Chatter

By geekboy

October 24, 2008 9:02 AM | Link to this

If you do not plan to retire in the next 5 years, this is the single greatest opportunity to create wealth in the last 80 years.

If you have any liquid assets that you have no immediate plans for, it is hard to go wrong with some of the heavily undervalued blue chips … GE for instance. Or IBM. Or Microsoft. These companies all have huge cash flow and will not only survive, but will gain strength by picking off losers (like Yahoo). I am buying.

By syd

October 24, 2008 9:14 AM | Link to this

We’re buying IBM right now.

By Ima Dummy Seller

October 24, 2008 9:29 AM | Link to this

Warren Buffett says thanks to you dumb as rocks, panicky sellers out there. He has been buying the past few weeks and his motto is something like this: “be scared when stocks are high (sell) and be smart when people panic (buy)!

I am picking up a few bargains myself but will make only a few hundred in profits a year from now while he makes more BILLIONS.

By Elle

October 24, 2008 9:37 AM | Link to this

I am not handling the market collapse at all well. I moved out of stocks in early 2007 to money market funds and bond funds and I still lost money. My bond funds had those mortgage backed securities in them. Although I have preserved most of my money, I don’t like the losses.

I wonder if my job will let me work until I’m a 100 years old.

By Phil

October 24, 2008 9:47 AM | Link to this

I’ve got to agree with geekboy - there’s a sale on Wall Street and I’m grabbing a shopping cart.

By willie

October 24, 2008 9:50 AM | Link to this

Speaking of Buffett…one of his best sayings ever was something like this….if you can’t handle seeing the value of your investments cut in half overnight, you have no business being in the stock market. For long-term investors, this is no big deal. However, I do feel badly for people that needed the money now or very soon.

By GaLiberal

October 24, 2008 10:29 AM | Link to this

Let’s all follow the Reagan/Rethuglicon economic solution: BUY BUY BUY. Buy a new car. Or 2. Or 3. Buy a new big screen TV. Get a sub-prime mortgage and buy a bigger home. Run up your credit card debt with junk you don’t need, but it’s your patriotic duty. Let’s have the government get out more tax cuts to the uberrich so our debt increases and the value of the dollar falls. Yes, we can spend our way out of this problem. Just buy, buy, buy. Make the rich richer and drive yourself deeper into debt so you have to work your entire life while the rich get even richer. Let them eat cake. That’s the Rethuglicons answer to everything.

When you vote Rethuglicon, you vote against your own best interests. And the economic crash that’s wiped out your job or your retirement is living proof.

By Bill Clarke

October 24, 2008 10:49 AM | Link to this

Start fattening up your pets and till your yard to grow rutabagas, turnips and collards. It might also behoove you (snicker) to trade in your car or truck for a beast of burden and a cart.

By GaLiberal

October 24, 2008 11:18 AM | Link to this

Let’s all follow the Reagan/Rethuglicon economic solution: BUY BUY BUY. Buy a new car. Or 2. Or 3. Buy a new big screen TV. Get a sub-prime mortgage and buy a bigger home. Run up your credit card debt with junk you don’t need, but it’s your patriotic duty. Let’s have the government get out more tax cuts to the uberrich so our debt increases and the value of the dollar falls. Yes, we can spend our way out of this problem. Just buy, buy, buy. Make the rich richer and drive yourself deeper into debt so you have to work your entire life while the rich get even richer. Let them eat cake. That’s the Rethuglicons answer to everything.

When you vote Rethuglicon, you vote against your own best interests. And the economic crash that’s wiped out your job or your retirement is living proof.

By Jason

October 24, 2008 11:22 AM | Link to this

Based on its (sustainable) annualized growth rate between the crash of ‘29 and the tech boom of the late ’90s, the Dow should currently be somewhere around 6900 points. That being said, I don’t think we’ve hit the bottom yet.

By Peadawg

October 24, 2008 11:27 AM | Link to this

Or we can do it the Democratic way. Higher tax, spread wealth(give handouts to lazy people). If Obama is elected, welcome to the United Socialist States of America!

By fcm

October 24, 2008 11:35 AM | Link to this

I am just ticked I don’t have any liquid funds (thank you divorce and no child support!) to buy.

Rhett told Scarlett there is money to be made in the tearing down of a civilization.

By J-Mo

October 24, 2008 11:39 AM | Link to this

From one Jason to another … I AGREE. We’ve not yet seen the bottom. Don’t be surprised when we trade below 7K.

By catlady

October 24, 2008 11:43 AM | Link to this

I left the market completely when the dot com bubble burst and my family’s worth took a big hit. Now: no debt, no stocks, no IRA. But I am a teacher so I will still end up getting screwed. I have worked 35 years but expect to keep on working, perhaps till it kills me.

By joan

October 24, 2008 11:50 AM | Link to this

I have been buying, but if Congress keeps tinkering with its idiot bailouts, and not letting capitalism work, I am not sure the market will have a chance to turn around.

By matt

October 24, 2008 12:30 PM | Link to this

Ah, Rethuglicon. How creative!

As for me, I’ve only started working at a real, full-time job and I’m glad I put my 401(k) in a money market fund. Although I did expect a recession and the market to go down, I certainly never expected 8500.

In the long term, the US as a whole will be forced to save more and spend less. I don’t necessarily consider that a bad thing. If you’ve ever wondered what drove the trade deficit so high, it was foreigners investing in our economy. By investing, I mainly mean buying up mortgages, commercial paper and stocks.

In other words, Greenspan printed out dollars like crazy when interest rates were <2% for three years. Foreigners bought the dollars with their own currency as fast as they could to keep their own exports cheap. But the money didn’t just sit in vaults, it was invested in the highest yielding and lowest risk things they could find. And behold, they found very high yields in a historically low-risk market, US housing.

Foreigners will obviously invest less in housing. However, their cash reserves still won’t sit in vaults. It will be spent more on consumption and every dollar spent on consumption will lower the value of the dollar, making our exports more valuable in the long run.

But a reduction in the trade deficit means importing less than you’re exporting, or selling more than you buying. We just won’t have the cheap credit anymore in the future, where people financed nearly for free new kitchens, pools, TVs, cars, whatever. We’ll save more and spend less, which hopefully people can adjust to.

Either that, or we become much more productive like we did in 90’s to pay back the 80’s debt. But I can’t say that will happen if Obama gets all his wishes for tax and spending increases. Stagnant and high-unemployment Europe, here we come.

By John McCain

October 24, 2008 1:06 PM | Link to this

Bush took all my MONEY

By Seen It All Before

October 24, 2008 1:07 PM | Link to this

If you think stocks are cheap now, just wait a few months.

You will be able to wallpaper your kitchen with stock certificates.

By James

October 24, 2008 1:12 PM | Link to this

This Democratic/Carter/Clinton/ACORN Community Organizer pushed Community Re-Investment Act Sub-prime Mortgage Economic Crash is just the beginning to the fall of the economy in the US if Obamahood Democrats win the presidency and majorities in both houses of congress.

If the Democrats reinstate the US oil drill ban, contnue to block building new refineries (as they have for the last 30 years resulting in going from importing 20% of our oil to now 80%), continue to block building nuclear power plants,etc. resulting in the enabling of the oil cartels to continue raising the price of each barrel of oil due to increased demand and no increase in supply (simple macro economics that evidently you have to fail to join the Democratic party)the US will double the 800 billion dollars the US spends for oil imports a year during the first Obamahood term. 800 Billion could better be spent in the US developing jobs by drilling for oil/natural gas, building power plants, developing new efficient energy sources (i.e. driving up US and World food prices by the currently government subsidized inefficent production of ethanol or pushing building electric cars with 200+lbs of hazardous batteries that must be continously replaced and disposed of instead of waiting for a safe battery to be developed is not efficient).

By Ima Dumba@@ Seller

October 24, 2008 1:59 PM | Link to this

I panic sell when hysterical, headline grabbing, writers post articles like this (taken from a stock message board):

**This Assoc. Press moronic writer is one reason we are having so much volitility in the markets. Just look at the headlines, then look at the Dow (now down less than 300) and the uninformed would wake up and sell everything today. Did you see dazzling headlines on the days Dow was up 500 points???? No!!

These pukes should be fired, but their puke bosses like headlines that grab peoples attention.

Stocks dive on belief global recession is at hand By TIM PARADIS

AP Business Writer

NEW YORK — Wall Street joined world stock markets in a sharp selloff Friday, with the Dow Jones industrials dropping nearly 300 points in early trading and all the major indexes falling more than 4 percent. The growing belief that the world will suffer a punishing economic recession has investors dumping stocks **

As Warren Buffett is saying, he is buying what most dummies are selling!

By Alex

October 25, 2008 10:35 AM | Link to this

I am using this time as a opportunity to buy blue chip stocks with at least a 4% yield.I still think we are in for a bumpy ride.

By Diana

October 26, 2008 8:40 AM | Link to this

This all started with the Democrats….Bill Clinton’s administration. As much as I dislike Bush and think he is not a good President this is NOT a Republican problem. My personal opinion is that Wall Street has not hit bottom yet and we may see a true capitulation by the end of December.

By Right on the Right

October 27, 2008 8:02 AM | Link to this

GaLiberal whines because he has obviously has NO MONEY and complains because he wants the rest of us to be knocked down to his level - poor and ignorant. Sorry, but you and your socialist friend Obama have it all wrong. Stop posting your drivel all over the Internet, get off you fat @$$ and get a job, and quit living off the government. The only person you have to blame for your failures is YOU. Obama won’t help you and his campaign promises are a lie. So GaLiberal, we could all care less that you can’t afford to buy stock. Leave it for the rest of us that know how to successfully manage our finances and support ourselves.