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Discussion Starter · #1 ·
so with all the uglyness going in the market today,and seems like more to come,when is enough ,enough.at what point do you bail out and run for cover .what rule of thumb do some of you play by.i know if you cant stand the losses then you shouldnt be in there.heard that one before.but really,does it make sence to pull out and go savings untill this mess clears up.or do you stand pat and ride it out.be interesting to hear what some of you guys are doing to get threw the storm. mic
 

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I understand your concerns - it does seem as though the market has taken a big hit lately.

I'm at a point in my life where I actually welcome a downward correction. I invest a percentage of my income each month into a few mutual funds. When the market goes down I end up being able to purchase more shares (like buying a product from a store while it's on sale.) I have over 20 years + before I plan to retire.

Diversification is also the key. Don't throw all of your investments into one particular investment or sector. Spread it around.

I suppose that I would be a bit more worried if I was looking to retire in five years. Because the market will recover (at least it always has in the past), a correction is not necessarily a bad thing. And if you don't need the money in the short term then riding it out is your best bet.

I say "Let it Ride!" It'll rally again.
 

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I wouldn't bail now mic!

Like Rob says... now's the time to BUY! These downturns don't last forever and if you don't need your money right away... I'd let 'er ride. You don't lose if you don't sell. Tup:

Things WILL come back!

...at least that's what I keep tellin' myself everytime I look at my portfolio. :D
 

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You only lose money if you sell now. Leave your money where it's at if at all possible, and like Keysrob said, they're all on sale right now. Look at long term averages, and it'll all be okay. I'd hate to be close to retirement right now, and have a bunch of dough there.
 

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Discussion Starter · #6 ·
thanks for all the replys,but for me im trying to go out in 2 years.so,not being a genus with the market,would you still stand pat.just trying to keep what we have, kinda,
 

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I am buying myself near broke right now. When it rebounds ... I am a happy dude :mrgreen:

Rob - your still buying lunch though :shock:

lol
 

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SportJet said:
I am buying myself near broke right now. When it rebounds ... I am a happy dude :mrgreen:

Rob - your still buying lunch though :shock:

lol
Lunch? Well, I hope you enjoy those AM/PM corn dogs...
 

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Keysrob said:
SportJet said:
I am buying myself near broke right now. When it rebounds ... I am a happy dude :mrgreen:

Rob - your still buying lunch though :shock:

lol
Lunch? Well, I hope you enjoy those AM/PM corn dogs...
Them are kinda spendy arent they :mrgreen:
 

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mic - I'm not a financial advisor... and I didn't even stay at a Holiday Inn Express last night... but the best advice I can give in your situation is to consult with one that you trust. A lot of your decision to stand pat or sell will depend on what kind of stocks you have most of your money invested in. Are they Bluechips? Companies that have been around a while? Speculative no names? I think things will definitely turn around somewhat within 2 years... but again a lot of it has to do with what types of stocks you have. The futures market took a big jump this morning... so you just never know? Good luck with whatever you decide to do. Tup:
 

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I have 17 years until official retirement but would like to retire in 7. I am doing as Jim Cramer says, back up the truck and "Buy Buy Buy" . Stocks are on sale. In 5-10 years you will at least double if your buying now. If you only have 2 years , any financial advisor will say you should be in cash and bonds with minimal exposure to equities.
 

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I wish I knew more about stocks. Hope you do well Mics. Your good people~
 

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What are everyone's thoughts on Washington Mutual? Do you think it will get worse before it gets better. Any other sleepers that you will think will perform here in 2008...countrywide. Some of these stocks are risky , but I am young and willing to take some shots in the dark.
 

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uwhuskytb said:
What are everyone's thoughts on Washington Mutual? Do you think it will get worse before it gets better. Any other sleepers that you will think will perform here in 2008...countrywide. Some of these stocks are risky , but I am young and willing to take some shots in the dark.
Wamu may come back someday but I personally wouldn't gamble my money with them. I used to be a huge Wamu fan - stock holder, checking account, savings account, equity line, car loan, CD's, etc. I did fairly well on the ride up toward the peak. Unfortunately they were so heavily dependant upon their mortgage business that they are suffering tremendously right now. Fortunately, I was able to bail with a 28% gain before the big tumble.

I don't think they've bottomed out yet, either. They just announced layoffs of another 4,000 people and a 4th quarter loss of $1.6 billion. They're going to be hurting for a while. I wouldn't be surprised to see the stock drop from it's current price of $16 down to single digits before it levels off. (Of course I'm not a financial analyst and my thoughts are purely the opinion of one person.)

Washington Mutual has more problems than their stock price. Customer service has taken a huge hit. Probably from cost cutting measures and their need to employ inexpensive labor. I personally have wiped my hands of Wamu - I closed all my accounts and moved them away from the sinking ship. I just got tired of the dwindling service and uncompetitive rates.

Kind of sad for a once great institution. I wish them the best and hope they can turn it around.

As for Countrywide - I would steer clear of any mortgage related company right now. Wait until there's a glimmer of hope before you jump in. Again, just my opinion.
 
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