What have I missed?

[lindismith]

Piggington has done me well:
1. I didn’t buy a condo in 2005 when everyone around me was pressuring me to “get in or get priced out forever.”
2. I saved many friends from making a disastrous decision to buy by turning them on to Piggington also.
3. I took heed of calls for a recession last year, and ramped up marketing efforts for my business which resulted in my single biggest month ever last month. (I find things are still quite shaky, however.)
4. When I found out about MBS and REITS, I told my financial planner to make sure I had nothing to do with them in my portfolio.
5. And although I need a new car, I’m hunkering down, and holding on to the old one that’s paid off as I’m concerned our economy is going to take a big hit, and I know I’ll want that extra $400-$500 a month a new car would chew up.

My thanks to all of you!

So my question is this: what have I missed?

I am very, very concerned about the future. Does anyone have any input?

[Bugs]

That’s a pretty impressive list you have going there.
Kudos.

[Bugs]

That’s a pretty impressive list you have going there.
Kudos.

[Bugs]

That’s a pretty impressive list you have going there.
Kudos.

[HLS]

Quite simply there are two things that will determine how well you weather the storm CASH and DEBT…
You want more of the first and less of the second.

That being said, there is nothing wrong with manageable debt. For someone with $5,000 in CC debt and $200 a month minimum payment (regardless of interest rate)
I would rather see $5,000 in their bank account with that $200 monthly payment than no cash in the bank and no $200 payment.

Many “wealthy” people have gotten into financial trouble due to lack of liquidity.

I am also VERY concerned about the future, and feel that CASH reserves give me more security than anything else.

For now, I don’t care if it doesn’t outpace inflation. You make hay when the sun shines. I see a lot of clouds right now.
There’s still way too much “irrational exuberance” in my opinion.

Expect a storm with rain, sleet, snow, floods, a hurricane, tornado, and a tsunami. Be prepared for them all.
If it only rains or snows you will have no problem.

Storms don’t last forever. There’s a rainbow after a good rain.

I’ve never wanted to be more wrong in my life.

[HLS]

Quite simply there are two things that will determine how well you weather the storm CASH and DEBT…
You want more of the first and less of the second.

That being said, there is nothing wrong with manageable debt. For someone with $5,000 in CC debt and $200 a month minimum payment (regardless of interest rate)
I would rather see $5,000 in their bank account with that $200 monthly payment than no cash in the bank and no $200 payment.

Many “wealthy” people have gotten into financial trouble due to lack of liquidity.

I am also VERY concerned about the future, and feel that CASH reserves give me more security than anything else.

For now, I don’t care if it doesn’t outpace inflation. You make hay when the sun shines. I see a lot of clouds right now.
There’s still way too much “irrational exuberance” in my opinion.

Expect a storm with rain, sleet, snow, floods, a hurricane, tornado, and a tsunami. Be prepared for them all.
If it only rains or snows you will have no problem.

Storms don’t last forever. There’s a rainbow after a good rain.

I’ve never wanted to be more wrong in my life.

[HLS]

Quite simply there are two things that will determine how well you weather the storm CASH and DEBT…
You want more of the first and less of the second.

That being said, there is nothing wrong with manageable debt. For someone with $5,000 in CC debt and $200 a month minimum payment (regardless of interest rate)
I would rather see $5,000 in their bank account with that $200 monthly payment than no cash in the bank and no $200 payment.

Many “wealthy” people have gotten into financial trouble due to lack of liquidity.

I am also VERY concerned about the future, and feel that CASH reserves give me more security than anything else.

For now, I don’t care if it doesn’t outpace inflation. You make hay when the sun shines. I see a lot of clouds right now.
There’s still way too much “irrational exuberance” in my opinion.

Expect a storm with rain, sleet, snow, floods, a hurricane, tornado, and a tsunami. Be prepared for them all.
If it only rains or snows you will have no problem.

Storms don’t last forever. There’s a rainbow after a good rain.

I’ve never wanted to be more wrong in my life.

[(former)FormerSanDiegan]

Sounds like the only thing you you missed out on was shorting the stock market starting about a year ago. As I recall there were some folks on this board calling for a huge decline in stocks starting at that time.

Luckily you didn’t do this because the S&P 500 is up about 12% (+ 1.7% or so in dividends).

The lesson: Better to try to avoid a disaster than to bet on one.

Reducing debt and raising cash are the best approach to weathering a storm. Good show.

[(former)FormerSanDiegan]

Sounds like the only thing you you missed out on was shorting the stock market starting about a year ago. As I recall there were some folks on this board calling for a huge decline in stocks starting at that time.

Luckily you didn’t do this because the S&P 500 is up about 12% (+ 1.7% or so in dividends).

The lesson: Better to try to avoid a disaster than to bet on one.

Reducing debt and raising cash are the best approach to weathering a storm. Good show.

[(former)FormerSanDiegan]

Sounds like the only thing you you missed out on was shorting the stock market starting about a year ago. As I recall there were some folks on this board calling for a huge decline in stocks starting at that time.

Luckily you didn’t do this because the S&P 500 is up about 12% (+ 1.7% or so in dividends).

The lesson: Better to try to avoid a disaster than to bet on one.

Reducing debt and raising cash are the best approach to weathering a storm. Good show.

[JWM in SD]

Hey HLS,

Thanks for having the courage to start posting on this board despite being “in the biz”. Your posts have been a godsend of rationality that was beginning to be sorely lacking here since about Feb 07.

JWM in SD

[JWM in SD]

Hey HLS,

Thanks for having the courage to start posting on this board despite being “in the biz”. Your posts have been a godsend of rationality that was beginning to be sorely lacking here since about Feb 07.

JWM in SD

[JWM in SD]

Hey HLS,

Thanks for having the courage to start posting on this board despite being “in the biz”. Your posts have been a godsend of rationality that was beginning to be sorely lacking here since about Feb 07.

JWM in SD

[HLS]

Courage ???

To me it’s just honesty & truth.

I have a different attitude towards all this nonsense. It’s just money. It’s gambling in the pusuit of greed, not happiness. So is the stock market. People will disagree with me until the next crash.

Ya win some, ya lose some.
If I had found this board sooner, I woulda been here. I wasn’t hiding.

Life’s too short. Ya gotta believe in something.
I believe that I need some lobster and beer, so I’m going to Mexico for a break.

Loans are still funding, the sun is shining, tenants are paying their rent, and life is good.

We’re all in the same boat. Some have suites, some have balconies, some have oceanviews and some have inside cabins.

If the ship sinks, we’re all going down. 😉

PS: THANKS JWM

[HLS]

Courage ???

To me it’s just honesty & truth.

I have a different attitude towards all this nonsense. It’s just money. It’s gambling in the pusuit of greed, not happiness. So is the stock market. People will disagree with me until the next crash.

Ya win some, ya lose some.
If I had found this board sooner, I woulda been here. I wasn’t hiding.

Life’s too short. Ya gotta believe in something.
I believe that I need some lobster and beer, so I’m going to Mexico for a break.

Loans are still funding, the sun is shining, tenants are paying their rent, and life is good.

We’re all in the same boat. Some have suites, some have balconies, some have oceanviews and some have inside cabins.

If the ship sinks, we’re all going down. 😉

PS: THANKS JWM

[Author]

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