Jump to content

Well that was a nice 300+ point drop...


Casper

Recommended Posts

I hope your not expecting it to improve anytime for the rest of the year.

I've lost 42% of my 401k value since January! I just wish it could go back up enough that I could break even and move it to 'safer' bets.

Link to comment
Share on other sites

Just talked to my financial advisor. He said if I didn't sell, I didn't lose. Hmmmm, I wonder if he knows what he's talking about....:wtf:

Of course, the contrarian view is that you should buy when there's "blood in the street" so it must be time to pony up another half mil for some more GE! Just like Harry's Carpet: I might lose money on EVERY transaction, but my plan is to make it up in VOLUME.

Link to comment
Share on other sites

Just talked to my financial advisor. He said if I didn't sell, I didn't lose. Hmmmm, I wonder if he knows what he's talking about....:wtf:

He's right. If you sell, then you will not make any money (or could lose money) but if you wait it out, chances are that it will rise again and you will be able to turn a profit.

The problem is the market drops, people freak and sell everything and that's when it crashes.

Edited by chevysoldier
Link to comment
Share on other sites

He's right. If you sell, then you will not make any money (or could lose money) but if you wait it out, chances are that it will rise again and you will be able to turn a profit.

Isn't this the same thing they were telling employees of Enron, Lehman Bros, and GM?

Link to comment
Share on other sites

Just talked to my financial advisor. He said if I didn't sell, I didn't lose. Hmmmm, I wonder if he knows what he's talking about....:wtf:

I hate glib statements like that.

Have you ever called your financial advisor when the market was up 20% and heard him say, "Well, if you don't sell, you haven't made any money"?

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
×
  • Create New...