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  • January 14, 2008 at 4:44 PM #135991
    Running Bear
    Participant

    Gents,

    I think you are looking at this period with the wrong mentality. We are in pretty uncharted territory and until we see some things wash through the current system I would be thinking in terms of wealth preservation not wealth accumulation. There will be plenty of time to earn money on this downturn but wait for the bottom to show itself and then get in. Missing 10% on the bottom is better than getting in 30% early. I found a chart of the Dow around the 1929 crash with comments from “experts” of the time. If you are going to do some knife catching in the current market play with money that you can throw away. Think of it as buying lottery tickets.
    http://www.gold-eagle.com/editorials_01/seymour062001.html

    My2Cents

    January 14, 2008 at 4:52 PM #135700
    nostradamus
    Participant

    Chief Running Bear, that’s my point! I’m preserving funds now so that I can buy at the bottom.

    I liked the last quote on your chart:

    “All safe deposit boxes in banks or financial institutions have been sealed… and may only be opened in the presence of an agent of the I.R.S.” -FDR

    January 14, 2008 at 4:52 PM #135897
    nostradamus
    Participant

    Chief Running Bear, that’s my point! I’m preserving funds now so that I can buy at the bottom.

    I liked the last quote on your chart:

    “All safe deposit boxes in banks or financial institutions have been sealed… and may only be opened in the presence of an agent of the I.R.S.” -FDR

    January 14, 2008 at 4:52 PM #135900
    nostradamus
    Participant

    Chief Running Bear, that’s my point! I’m preserving funds now so that I can buy at the bottom.

    I liked the last quote on your chart:

    “All safe deposit boxes in banks or financial institutions have been sealed… and may only be opened in the presence of an agent of the I.R.S.” -FDR

    January 14, 2008 at 4:52 PM #135958
    nostradamus
    Participant

    Chief Running Bear, that’s my point! I’m preserving funds now so that I can buy at the bottom.

    I liked the last quote on your chart:

    “All safe deposit boxes in banks or financial institutions have been sealed… and may only be opened in the presence of an agent of the I.R.S.” -FDR

    January 14, 2008 at 4:52 PM #136000
    nostradamus
    Participant

    Chief Running Bear, that’s my point! I’m preserving funds now so that I can buy at the bottom.

    I liked the last quote on your chart:

    “All safe deposit boxes in banks or financial institutions have been sealed… and may only be opened in the presence of an agent of the I.R.S.” -FDR

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