OT-Could Not Hold Back any longer, HAD TO BUY

[Old Time Hunter]

Ok, had a choice yesterday, either a 1876 Winchester chambered for .45-60 manufactured in 1885 or buying stock. I bought stock! And it wasn't stock to hold the iron. Figured I can not sit on the fence anymore, our financial house of cards is collapsing because the pillars of the institutions were not built on strong fundamentals like real value of objective goods and services (we do not make anything anymore, the middleman inflates prices without value on services), but real companies, with real products are being under valued by this. There is no way that we as a country or even as a global society will allow the largest companies to fold, therefore companies like GM, or GE, or Ford, or even the international Banking companies that together comprise 50% of the world's assets are absolutely great buys right now. I can not believe that common sense people are being oblivious to comapnies that still have positive profits, albeit not stellar and reduced projections, but profits from sales none the less are devalued to the point that dividend returns are 7, 8, even 9+%. Baby it's time to buy! Don't care much for his politics, but Warren does know how to make buck! My dividends will be buying that '76 for me within a year!

[Hobie]

Buy low and sell high.

[El Chivo]

I bought some earlier this year. Now I'm trying to buy a little more, but I wish I had waited. Still, what's important is the value when you sell, not what it says today. Mine is a Roth and I won't be selling for 12-15 years, if then.

I don't actually buy stock, but shares of a S&P 500 mutual fund which spreads out risk among our 500 biggest/most solid companies. But, yeah, share price is little more than half what it was earlier this year. Such a deal...

[Mokwaw]

I buy stocks & bonds every week. 12% of my pay goes into my retirement fund which is large cap stocks, small cap stocks and bonds, plus a little cash holdings. My retirement fund has taken a major hit this year, but I intend to ride it out and hopefully things will come back like a rocket launch. But if they don't I will just work longer until I feel I have enough to carry me and the wife thru. Doesn't do much good to worry over it.

[Ysabel Kid]

Worst week in the 121 year history of the market - almost the worst % drop overall - but that just means there are now deals to be had. The futures market over the weekend had the Dow up Monday, and the Asian markets all shot up nicely. Let's hope it stays!

[Blaine]

My fund has lost about 7-8,000 this last month or so........I'm about maxed out on the contribution, and I don't think I'll pull any back.......I believe that after the election, no matter which way it goes, the market should rebound pretty good......This is not good for my heart, though

[bogus bill]

I wish I had the choice of the rifle OR stock. But alass, I yam next to broke! The last 3 weeks has cost me close to $110,000 in my 401K! And I and my bride are retired. I guess we need to die sooner then schueled? Actualy, we are okay for now, but I am worried the most for her as she is 17 years my junior. You younger bucks might keep her in mind if I bail out, she will have a nice dowery of shooting irons and not much else.
Actualy, I am changing nothing in our 401 K, I am not selling at what I hope is the bottom, but I agree, now is the time to be buying. (I think). The part that really smarts for me is that I have a lot of Qual com in the 401K. Three weeks ago I was watching it close and was about to pull the trigger on a covered call play. Had I, it would have bought me a harley I always wanted. Now, I am down 5 harleys!!

[slickrock]

tell me more about your not so poor widow and do you have any photos of the guns?

[bogus bill]

Us just before we got hitched five years ago.

[bogus bill]

Hey, now wait a minute! I see you must live close to me! Oh-Oh.

[El Chivo]

wow some of you guys had some real money! Mine is only enough for my funeral. But if this goes on any longer I'll have to be left out for the coyotes.

[bogus bill]

The thing is some or all of us guys that worked all our lives, never missed a payment and saved for retirement are finding ourselves in the same boat as people that never worked and if they did lived over their means, bought new vehicles all their lives, houses they couldnt afford, etc. If obama has his way we all will be just alike! Even if I am wrong and Obama is a saint (and I know he isnt) there probley has been so much damage done already, I dont think any mortal man can do anything to really recover the economy. Even if that appears to somewhat happen the stage is set for the mother of all depressions at a later date! I remember what my dad said 55 years ago when I was envious of other guys driveing new hot cars and we had used clunkers. "any fool with the price of a postage stamp can buy a car!" Funny how you recall phrases like that!
If this comes down like it looks it could, the hard working nurds like us that never "used" the system will be the idiots that were working OT, and liveing tight and in our means while others were out playing and impressing people, and we all will find ourselves shoulder to shoulder in the soup line.
Awhile back on this or another site a question was asked if any of us thought there could ever be a civil war in this country again. Most all replyed no. But now I am not so sure. If anything could start one, I belive it could fire up between liberals and conservatives when we are all broke together, fighting whom we precived caused this mess!

[El Chivo]

The prices are fluctuating so much it's a tough call. I caught the bottom today. But that's all I am going to buy for the year, time to put some money into my own selfish wants and desires.

I was going over my old records and the share prices have not increased over 10 years ago. Assuming I have about 12 years to retirement, there just isn't going to be any significant growth. I might break even, but that whole pipe dream of the miracle of compounding, growth, the whole thing, is turning out to be BS for me. Be frugal? No percentage in it.

[BenT]

Ford at $2 a share is a good deal. They make a product. Even if they close some plants they will still be making a product that consumers need. Not to go hog wild but it's a stock that will be around like GM for quite a while it's worth picking up some shares.

[tman]

my 401k has definetly taken a beating. broker said at least 12 years to recoup the losses,IF THE MARKET COMES BACK, at its previous rate, yeah, right. stock market is a gamble, not a place for your pension or healthcare funds. fortunately, i have a seperate pension. i'll been contributing less to the 401k in recent years, banking it instead, don't think i made a bad move. unless your investments are of disposival income, stay away from the market.

[Sixgun]

Bogus Bill
---You and I think alike. Your Daddy was a smart dude as was my Dad. To this day (I am 54) I have never used a credit card. My credit number is "0". Big deal. If I don't have the cash, I don't buy it. (except my house which I paid off in 20)

I'm thinking (hoping) that SS will be there in 7 years when I retire. I'm hoping my Teamsters pension will be there if the crooks there don't steal it first. I KNOW my Winchesters & Colts will be there. I KNOW I will not have no stinkin tax to pay on them as everything I do is cash & carry. Screw the stinkin G-men. I put my trust in God & Green---------------------------Sixgun