Home › Forums › Financial Markets/Economics › Lot’s of bloody noses on Wall Street today
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LA_Renter.
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August 4, 2007 at 11:14 AM #70221August 4, 2007 at 11:14 AM #70298
LookoutBelow
ParticipantIts the "Casino Royale"….You can bet everybody has a system….just like Vegas, the House will win UNTIL it collapses. Why will it collapse ?….Unlike Vegas, the major players are greedy as hell and there are a tremendous amount of them, at least the mafia has more self control of greed than these traders and there are a lot less "House Controllers"…
On a level playing field, you might have a semblance of a chance, if you follow fundamentals and have a limit loss program… but on a hugely manipulated market (large intentional hedge fund moves, Big House Pump and Dumps, IE Cramer…short squeezes, PPT) like we have today, you have about the same odds as a "decent" card player has in Sin City. And lets not forget, the Street has perma bulls in their control of the media and whats reported to the "retail investor". I have studied it for years.
If you can find a stock or fund that is NOT manipulated because its not a High Flyer, then you can make the process work for you, if you trade the trends on the big boys, you'll get your tit caught in the wringer more times than you will win….until you eventually lose your stomach for this type of serious risk … or you go broke.
Right now, lam long on surfboard wax and diesel fuel for fishing… sitting on the sidelines in cash positions. When this silliness shakes out I "might" come back and play a little. But only with lunch money, not the rent money. I haven't taken a Tums antacid since my last puts scored in 05'….sleep like a baby too. lam liking 5.07%ROI with NO risk.
August 4, 2007 at 11:20 AM #70226GoUSC
ParticipantLookOutBelow,
I tell ya…I am sure enjoying my 6% returns with no risk and that nice check every month. I too am convinced the market is so manipulated it makes no sense to try and understand it. I am investing a little bit in the ProFunds short ETF’s. Just for fun with some of my play money.
August 4, 2007 at 11:20 AM #70302ParticipantLookOutBelow,
I tell ya…I am sure enjoying my 6% returns with no risk and that nice check every month. I too am convinced the market is so manipulated it makes no sense to try and understand it. I am investing a little bit in the ProFunds short ETF’s. Just for fun with some of my play money.
August 4, 2007 at 11:28 AM #70233bsrsharma
Participant“6% returns with no risk”
What is that, Can you please explain? I am not finding easy current accounts returning 6%.
August 4, 2007 at 11:28 AM #70310Participant“6% returns with no risk”
What is that, Can you please explain? I am not finding easy current accounts returning 6%.
August 4, 2007 at 11:57 AM #70245one_muggle
ParticipantLookout,
5.07%ROI in US dollars??? No offense, but that kinda blows. You can get better than that with a CD. Try IndyMac, Etrade, Eloan, ING… And if you are worried about the $100k FDIC limit, you can buy into several, if you’ve more than a few $100k, first good for you, but then you should probably have a firm managing your money.
Also, I don’t know what bad experience you’ve had, but even with my very conservative investing I don’t think I’ve had a year where I’ve lost to the market, at least nothing significant. Granted some years that means I have just lost LESS than the market. But, if I didn’t beat the market on average, I would just buy index funds and spend more time on other business.
-one muggle
August 4, 2007 at 11:57 AM #70322ParticipantLookout,
5.07%ROI in US dollars??? No offense, but that kinda blows. You can get better than that with a CD. Try IndyMac, Etrade, Eloan, ING… And if you are worried about the $100k FDIC limit, you can buy into several, if you’ve more than a few $100k, first good for you, but then you should probably have a firm managing your money.
Also, I don’t know what bad experience you’ve had, but even with my very conservative investing I don’t think I’ve had a year where I’ve lost to the market, at least nothing significant. Granted some years that means I have just lost LESS than the market. But, if I didn’t beat the market on average, I would just buy index funds and spend more time on other business.
-one muggle
August 4, 2007 at 3:15 PM #70283
CoronitaParticipantI think it was a great day. Capitalism works, long live capitalism!!! The market is finally punishing excessive risk taking, it is about time. BTW: I am too chicken-sh*t to short, so I lost money today (thought not too much since I have been holding much cash lately)but I am still happy to see the market start shaking out this crap. Who said" The market can stay irrational longer than you can stay solvent"? Genius. -one muggle
Hope you still have a job if a recession hits 🙁
August 4, 2007 at 3:15 PM #70360CoronitaParticipantI think it was a great day. Capitalism works, long live capitalism!!! The market is finally punishing excessive risk taking, it is about time. BTW: I am too chicken-sh*t to short, so I lost money today (thought not too much since I have been holding much cash lately)but I am still happy to see the market start shaking out this crap. Who said" The market can stay irrational longer than you can stay solvent"? Genius. -one muggle
Hope you still have a job if a recession hits 🙁
August 4, 2007 at 4:17 PM #70293lendingbubblecontinues
Participant“Hope you still have a job if a recession hits :(”
Does anyone really believe that vast numbers of people would lose their jobs during a “bursting of the housing bubble” led recession?!?!?
I, for one, will make more money during this bust.
August 4, 2007 at 4:17 PM #70370Participant“Hope you still have a job if a recession hits :(”
Does anyone really believe that vast numbers of people would lose their jobs during a “bursting of the housing bubble” led recession?!?!?
I, for one, will make more money during this bust.
August 4, 2007 at 4:24 PM #70295SD Realtor
Participantlending why wouldn’t people lose their job. Anyone in the engineering industry who has history of being through recessions in the 90’s should recall substantial layoffs. I know I recall them well. I worked at General Instrument at the time. We made digital satellite and cable boxes. About every 3 months our company would “reorganize”…
The cause of the recession is mostly irrelevant to the way that the recession will hurt employment.
In our upcoming recession I will be much less worried about my real estate business as compared to the digital design team that I run.
SD Realtor
August 4, 2007 at 4:24 PM #70372Participantlending why wouldn’t people lose their job. Anyone in the engineering industry who has history of being through recessions in the 90’s should recall substantial layoffs. I know I recall them well. I worked at General Instrument at the time. We made digital satellite and cable boxes. About every 3 months our company would “reorganize”…
The cause of the recession is mostly irrelevant to the way that the recession will hurt employment.
In our upcoming recession I will be much less worried about my real estate business as compared to the digital design team that I run.
SD Realtor
August 4, 2007 at 4:26 PM #70297ParticipantI work in shopping center development so I, for one, have something to be worried about. However, we have a good portfolio of operating centers to carry us in a down market. If need be I can cut back my hours during the lull periods, work on just entitlement projects (we have several big projects in Entitlement that will take 2+ years), and travel a bit. I have prepped for this by getting rid of all my debt and moving to investments that generate secure steady incomes.
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