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Stock Market/ Who Dumped? Who is Staying the Course?

 
 
Reply Thu 20 Nov, 2008 06:41 am
Well, it looks like yesterday was the darkest day on the stock market in many years. A number of months ago, we had a nice, not so little nest egg. Although we are still ahead of the game, our holdings are, shall we say, much more modest.

As we bought stocks for dividends, and not appreciation, when things started going downhill, we decided to hang tight. Figure that this bear market will end in a few years, and the stocks will begin to appreciate.

What are your thoughts on the stock market? Have you sold out, or are you going to stay in?
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Type: Discussion • Score: 24 • Views: 12,507 • Replies: 69
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Woiyo9
 
  2  
Reply Thu 20 Nov, 2008 07:18 am
I decided to stay in and increase 401K contributions. I have not made a move regarding my existing portfolio. I have no idea if I did the right or wrong thing. Long term, I guess I will find out.

I have not heard from my "so-called" stock broker.
mismi
 
  2  
Reply Thu 20 Nov, 2008 07:33 am
@Woiyo9,
We stuck...and are still contributing.
0 Replies
 
cjhsa
 
  1  
Reply Thu 20 Nov, 2008 07:47 am
@Phoenix32890,
I had the bulk of mine in money market and bonds before this all began. About a month ago I pulled out of the international equity markets, but's that it. Like everyone else, I've lost a great deal on several of my investments. One mutual fund is off 40%....
0 Replies
 
dyslexia
 
  2  
Reply Thu 20 Nov, 2008 08:23 am
I too have lost beaucoup $ but am in too stay.
0 Replies
 
JPB
 
  2  
Reply Thu 20 Nov, 2008 08:26 am
We stayed and are still contributing. My head is still in the sand. I don't want to know the damages.
mismi
 
  2  
Reply Thu 20 Nov, 2008 08:29 am
@JPB,
me too JPB
0 Replies
 
CalamityJane
 
  2  
Reply Thu 20 Nov, 2008 09:46 am
@Phoenix32890,
I haven't sold anything and haven't bought anything either. I am just waiting
for this wave to pass.
hamburger
 
  1  
Reply Thu 20 Nov, 2008 09:54 am
@CalamityJane,
same here : haven't sold anything but are not buying either .

saw in the financial news that the saudis , the russians and the norwegians are buying north-american assets on the cheap .

IF you have spare cash and IF you can hang in for another five years or more , it's probably going to be o.k. - but that's no longer for us - we are a little more focused on the next five years .
certainly hoping that our company and various governmaent pensions will hold up .
there isn't much we can do about it - except not to spend too much money foolishly .
house is paid for , car is paid for ... ... we are no doubt better off than many others .
hbg
mismi
 
  2  
Reply Thu 20 Nov, 2008 09:59 am
@hamburger,
hamburger - I want to be like you when I grow up! Very Happy
maporsche
 
  2  
Reply Thu 20 Nov, 2008 10:10 am
@Phoenix32890,
I've doubled my 401k contributions trying to get things cheap. My company matches my contributions in January, so I'm hoping that the market drops down even more before then (a 50% drop would be nice).

I have 40 years to retirement, I'm not worried.
0 Replies
 
hamburger
 
  1  
Reply Thu 20 Nov, 2008 10:15 am
@mismi,
mismi : took us about 50 years to grow up - now we are pretending not to have to worry about much .
hbg
0 Replies
 
chai2
 
  2  
Reply Thu 20 Nov, 2008 10:28 am
I'm holding, and last month contributed a lump sum to my IRA to max it out.

Buy low
Sell high
Phoenix32890
 
  2  
Reply Thu 20 Nov, 2008 11:25 am
@chai2,
Quote:
Buy low
Sell high


We had bought quite a bit of one particular stock that, after we bought it, had shot up like a rocket. At one point, just before the bubble burst, Mr. P. asked me if I wanted to sell half of it. Since we buy for dividends, I saw no point in selling it. We didn't, and now that stock is in the crapper, with the rest of them. Crying or Very sad
0 Replies
 
roger
 
  2  
Reply Thu 20 Nov, 2008 12:30 pm
@chai2,
chai2 wrote:

Buy low
Sell high


Right. Buy it when it's cheap; sell it when it goes up. If it don't go up? Then don't buy it.

Approximate quote from Will Rodgers.
0 Replies
 
Foxfyre
 
  2  
Reply Thu 20 Nov, 2008 01:15 pm
We're down about 35% in our investments and we have moved into money market until the current crunch is over. We hope after things bottom and stablilize we'll be able to dollar cost average back in and recoup some or most of our loss before we need it for full retirement. (We're already at retirement age so don't have as much give room for the long term as you young squirts. If we were 10 years younger, we would still be in.)
0 Replies
 
Thomas
 
  2  
Reply Thu 20 Nov, 2008 02:28 pm
@Phoenix32890,
For the most part, I cashed out a little over a year ago. Currently I'm contemplating whether I should get back in, and if yes, when. No decision on that one yet.

So overall, I feel okay about the stock market.
Green Witch
 
  2  
Reply Thu 20 Nov, 2008 02:54 pm
Still in and even buying a few things I've been watching. I have 20 years until the money becomes crucial for my survival (or at least I hope I have 20). I have to believe in this country and our basic system or I might as well dig a bunker and start stockpiling ammo and canned goods like the paranoid wackos. I actual feel better now than I have for the last eight years as I watched our government dig this big hole of debt and world hatred. I believe we will rise from the Bush ashes a better, more stable nation. That is what I am investing in.
0 Replies
 
dlowan
 
  2  
Reply Thu 20 Nov, 2008 03:07 pm
@Thomas,
I can't cash out....I am in a superannuation fund, and I cannot claim it until I turn 65, or stop work.

I can MOVE it....but...

I am riding it out and being as philosophical about the ride as I can be.
0 Replies
 
dlowan
 
  2  
Reply Thu 20 Nov, 2008 03:10 pm
@Thomas,
Thomas wrote:

For the most part, I cashed out a little over a year ago. Currently I'm contemplating whether I should get back in, and if yes, when. No decision on that one yet.

So overall, I feel okay about the stock market.


I would have done that, if I could, about 6 months ago.

But, c'est la vie.
0 Replies
 
 

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