Better than the Toll Brothers stock you bought last January when you were telling everyone how the housing market was going to turn around and not affect the rest of the economy. You couldn't have been more wrong if you actually put effort into trying. And best yet, I'm actually up almost 2% since October and this should be pretty much the worst it will get for my non-mortgage-holding financials. Come on, Bernake, lower them rates again! Daddy needs a new pair of shoes!
LOL! Toll Brothers? Interesting, but I still don't see it in my portfolio. Glad you're up, but it ain't on that call you gave us regarding financials in October. Any way, I wish you luck. May we both make lots o' money.
The secret to making money in the stock market is to buy low and sell high. My sense is that it is getting close to low, and almost time to dig up that tin can I buried in the back yard after the '04 election and put it back into the U.S. stock market.
I'm not sure we're getting close to low yet. I think that there are some selected stocks which have been oversold, but the market is still pretty skittish. I also don't think we've seen the earnings estimates for '08 drop enough.
It needs to be said. Too many people buy when everybody else tells them it's comfortable (e.g., when it has already gotten high) and sell when everybody else tells them it's uncomfortable (when it has already gone back down). This is the secret to losing money in the stock market. As a contrarian, my view is that you can pretty much tell what to do with your stock market money by finding out what ordinary people who have good common sense about things like what clothes to wear think, and do the opposite!
Right now I'm only investing through my 401(k), so I'm glad the funds are going down in price so I can gobble up shares while they are down. A lot of emotion is put into portfolios. And acting on emotion is the worst kind of financial action. Tomorrow is going to be a fun-filled day on Wall Street...
it will be rough indeed http://ca.news.yahoo.com/s/reuters/080121/business/business_markets_canada_stocks_col
Yep, Asia got creamed today too, and that was coming off huge losses last week. Crappy structured debt products are anywhere and everywhere. People are very uncertain and Bernanke and Bush's shaky performance last week probably made things worse. - January 22, 2008 is shaping up to be quite a memorable day.
Man, I hope they keep falling. All of this action is driving down bond yields which mean I get a better rate when I refinance. Sachin
Thats a good point, but picking the lows and highs is the tough part. Its all relative. So unless you are going average into a position over time and buy/sell at different levels, its very hard. And even then, if you do so, and it keep moving against you, you will be forced to hold alot longer than you had hoped, or get out for some pain. Well some indicators/studies exist that currently study what the "retail crowd" (mom and pop investors) are doing just for that purpose.
