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That's okay; I never needed to retire, anyway

 
 
jespah
 
Reply Tue 4 Feb, 2003 02:25 pm
See: http://biz.yahoo.com/rb/030204/financial_aig_4.html and hey, my portfolio's nearly halved (I used to work for AIG [NYSE symbol: AIG] so I've got lots of their stock). The news story's headline is: AIG Charge Shocks Industry, Slams Shares Essentially, shares are now at less than $50 apiece, down from their all-time high of $103 at the end of 2003.

I also have Pfizer [NYSE symbol: PFE], see: http://finance.yahoo.com/q?s=pfe&d=v1 They're down to under $30/share (used to be about $50 or so, way back when). The url cited shows a bunch of bad news, including competition (Pfizer makes, among other things, Viagra) and lawsuits.

Anyway, it looks like I'll be working 'til I'm, I dunno, 87 or so.

I take it I'm not the only one who's taking a bath in the current market. Anyone else want to commiserate, and cry in their beer with me?
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Type: Discussion • Score: 1 • Views: 3,335 • Replies: 27
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littlek
 
  1  
Reply Tue 4 Feb, 2003 02:27 pm
I've got some Pfizer too.....
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New Haven
 
  1  
Reply Tue 4 Feb, 2003 02:28 pm
How about AOL stock? Down from a high of about $72 to about $12/share.
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New Haven
 
  1  
Reply Tue 4 Feb, 2003 02:30 pm
I never buy drug stocks. I 'll buy the Health mutual funds instead.
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Phoenix32890
 
  1  
Reply Tue 4 Feb, 2003 02:38 pm
Well, it's all according to the way that I look at it. If I had sold before the balloon burst, I would be a much richer lady than I am today. As it is, I am a bit in the "red" but nothing to get hysterical about, and I am still collecting my dividends. I have a couple of "stinkers", but it does not pay to unload them now.
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New Haven
 
  1  
Reply Tue 4 Feb, 2003 02:40 pm
Phoenix:

The dividends do help. But then , for the 2002 tax, we still have to pay taxes on them. Twisted Evil
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husker
 
  1  
Reply Tue 4 Feb, 2003 02:41 pm
I bought CISCO SYSTEMS (NasdaqNM:CSCO) a while back at $20.00 thinking that was the tanked - oops - been to $8.12 now at $13.00 or so.
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husker
 
  1  
Reply Tue 4 Feb, 2003 02:46 pm
I used to be one of the top folks at this site like ranked between 1 and 5 before they changed come of the rules, then took out a couple of my big winners, saying there was a program problem. Oh well there are about 48 people who subscribe to my stock picks - still and I'm not even in the top 10% anymore....
You can get a peek here:
Cornhusker
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husker
 
  1  
Reply Tue 4 Feb, 2003 02:49 pm
The idea is that they let you have $10,000 worth of one companies stock. So for each stock I started out with $10,000 in value.
So at this very moment I'm close to brake even.

Righ now my rank is 1082 out of about 3000
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New Haven
 
  1  
Reply Tue 4 Feb, 2003 02:49 pm
husker:

It could have been much worse. Twisted Evil
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jespah
 
  1  
Reply Tue 4 Feb, 2003 02:55 pm
Well, I inherited the Pfizer, so I guess I shouldn't complain about it (e. g. anything above $0 is gravy). But - AIG!

We had also taken a bath on SWEC (I think it's SGE on the NYSE; it's the old Stone & Webster stock, which is now Shaw Stone & Webster). Hubby worked there, so his retirement account was through them. They didn't just halve - went to something like 10% of their original value. We were lucky, though, in that he'd only worked there for 5 years. Guys who'd worked there for 20 years completely lost their shirts.

Working on my taxes now. Oof.
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New Haven
 
  1  
Reply Tue 4 Feb, 2003 03:01 pm
Good luck on the taxes!
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husker
 
  1  
Reply Tue 4 Feb, 2003 03:08 pm
Jes how long you own the Pfizer? That gunna be a short term or long term? fer cap. gains?
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jespah
 
  1  
Reply Tue 4 Feb, 2003 03:31 pm
I've had the Pfizer since, um, I think 2000.
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littlek
 
  1  
Reply Tue 4 Feb, 2003 03:42 pm
I bought mine at the begining of 2000, or was it the end of 1999.....?
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Sugar
 
  1  
Reply Tue 4 Feb, 2003 04:15 pm
My company had an all time high of $373 - now it's under $1.50......

I didn't get in at IPO, but it was pretty high when I vested, but I was being a "responsible adult" - 'invest for your future Sugar', 'savings accounts are for babies, Sugar', 'it's a nice way to plan for your wedding/house/future children, Sugar'.

Well pppppbbbbbbtttthhhhhhh to all that. Still broke, still got to pay for all that stuff. I'll have toilet paper though!

I don't even want to talk about my 401K. I thought I'd be able to borrow against it as a first time house buyer with no penalties. Wow, yeah, all $500 of it, and my company decided to stop contributing at the beginning of the year. Double ppppppppbbbbbbtttttthhhhh!!!!!!!!
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BillW
 
  1  
Reply Tue 4 Feb, 2003 04:21 pm
Don't worry ya'll, the nation's rich are going to be able to buy another vacation house and they'll get a tax deduct limit raised to $75,000 on their SUV's. These guys were doing so bad - remember all they lost was much, much more than what you have lost! And they pay all the taxes anyway!
0 Replies
 
husker
 
  1  
Reply Tue 4 Feb, 2003 04:50 pm
OK - what part of your income is the value of your car or suv?

ie: your income in $70,000.00 and your car or suv is $35,000 that would be 50%.
or income is $30,000 and car value is $35,000 that would be like 117%

lets say if your car was new this year, to keep it easier. Because mine new is like 50% but used is like 6%
0 Replies
 
quinn1
 
  1  
Reply Tue 4 Feb, 2003 08:52 pm
I guess Im lucky, I had to cash out the portfolio in 1998 or was it 99?? Anyhow... and have been holding back from going back in for the moment. Ive managed the rise and fall for others though, just glad Im not watching them now...probably about to jump out the window...and frankly, Id have a hard time not laughing at them.
When I hear about peeps like Sug, I say..yeah..that would be me, Im good.
Yeah, Ill prolly be working with Jes come 2055 Confused Ah well...in good company anyway!
Its okay, this too shall pass...when though...argh.
taxes...that should be a four letter word!!! dangit.
0 Replies
 
BillW
 
  1  
Reply Wed 5 Feb, 2003 11:15 am
I haven't looked at my porfolio in about 9 months. Now, it tax time and I have to <sigh>!
0 Replies
 
 

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