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The loss is 4.15%. That sounds a whole lot better than a thousand points. I'm guessing baby boomers pulling out for retirement. The other factor is Bank of England rumor of raising its rates. If it does, the FED will surely follow suit. Could be a buying opportunity.
2700 point drop in the Dow since Jan 1 with two big hits and one minor.Quote:
Originally Posted by BushMasterBoy
I'm probably in too many high risk cats for my age, but I was trying to ride the wave.
Well, farts. I just checked again and today's hit just showed up. I lost the gains I made plus $21K. Fuck me.
My shiney new 401K, that has only seen two contributions, is -9%.
I see more long term.
After 2000, I learned that AFTER THE scaler multiple of the gdp/gnp/ppi growth is all setting up for a bubble.
There will be increase in MS relative to average change in money supply from foreign countries. In order for fed to reduce that is to issue new bonds to get the ms in control.
Some say that even 500b increase into US from foreign countries is nothing comare to entire M2. it is true, but it is damn a lot relative to average change.
You heard this from uncle prena first on 2/8 before barrons/wsj/cnbc/forbes.
If you are allowed to hold 2 months contributions in cash, do that, and then when you have big drops, put the cash back in. Dollar cost averaging is what us regular folks need. Keep plunking it in, and then when you get a hit, put more in. Then for 4 months, half in cash and half into holdings. I have done that for years and always beat the annual returns on my holdings just by buying at a low once a year.
My actual YTD loss was -3.75% at close today.Quote:
Originally Posted by BushMasterBoy
It just sucks that I lost on a big chunk of money I rolled over.
Not connected to the current correction, but our company stock took a huge hit in the past year or so. Company bought a petroleum and gas logistics company...then lost a major customer and that led to other issues. Amounted to a huge loss of $600m or thereabouts. My ESOP plan went from almost $30 per share about this time last year to around $4 per share now. There's just no good way to spin that.
The 401k took a little hit with the recent market correction but I'm not nearly as worried about that as I am the company stock.
Man, I am so thankful for defined benefit plans. My other plans took similar percentage hits, but I make much smaller contributions.
Yes it does. But right now it's so bad it's barely worth getting for free. I sure as hell don't wanna pay for it!Quote:
Originally Posted by foxtrot
Since I get more shares at the lower price I'm really hoping the company can pay down the massive debt they've incurred and the stock goes back up in the next few years. They pay it out (the ESOP) in lump sum when the employee turns 65 and I'm hoping it can rebound in that time...a little bit anyway.
ETA: A lot of co-workers are bitching that our company isn't offering bonuses due to the tax bill like so many other companies are doing. I'm all for the company keeping the money and paying their debt with it. That would be far, far better in the long run for the employees than a $1000 bonus now. But, long run doesn't buy a new 4k TV today. People are so short-sighted sometimes.