The stock market will never be the same...
 

...at least not in our lifetime.

I've learned a $100,000+ lesson the past few weeks. :helpme

I'm 37 so I have a while before I retire but I feel very sorry for those people who retire in 10 years or less and who've seen their portfolio values plummet.

Here is my new investment plan:

BUILD MORE SITES.

SOCK AWAY MY SAVINGS IN CASH, CASH EQUIVALENTS, GICs etc.

PAY OFF THE MORTGAGE.

DONT EVER WATCH CNBC AGAIN.

I'm taking the slow, secure road to being a millionaire from here on.

I'll never trust the stock market again.
:thumbsup

Oh my God are you sure Mr.Wizard?

That sucks and I listen to Clark Howard and you hear these old people and they are freaking out. My heart goes to them.I think its been too crazy. Companies making huge profits but dont meet expectations so their stock drops.Its nuts. I think it has to come back to reality.

Very wise to put all your assets into guys who pump their joy sticks to dirty pictures then after the moment has passed they call their credit card company an deny ever visiting your site:thumbsup

I've learned a $30k lesson too.

:( :(

A good lesson for everyone: "It's not what you make, it's what you keep".

Remember that 'ol saying? :)

good one

Sorry to hear about the loss, glad to hear the lesson learned.

I remember when the market was like 3,000, then blam, it skyrocketed. I never trusted that. Was kind of like how they said my house tripled in value less than a year after I bought it.

That stuff just isn't realistic.

I'm around that bracket too :(

that's funny, through all this, my internet assets are the assets that continue to hold their value.

Porn assets are proving to be more stable than stocks. Now I am just going to continue to let those porn assets throw off cash and save the cash rather than put it into stocks.

I was certain that your power of thought was retrograded, well you certainly provide enough evidence that it is every time you post:321GFY

that sucks, its sickening to see that money evaporate isnt it.

I just keep telling my self "thank god for porn".

I've found over the past 10 years its negative events like this that spur me on to build my business even more. I remember a few years back when Yahoo stopped using Google's search results my business crashed bigtime but it made me work even harder and I think I ended up ahead. I hope thats the case this time around too.

Do you really think your savings are safe in dollars? :helpme

In 10 years, 1m will be 500k, purchasing power adjusted. Some people can be so naive. :)

investing is gambling. not a source of income. to many people make this mistake.

Thats why its important to always have a business that continually provides income and produces cash - in addition to the savings account, wise guy. :upsidedow

Good plan :thumbsup

I was thinking about whether I can trust keeping my money in cash/gold/under my mattress.

I figure if that shit hits the fan with the dollar/currency then I'll have bigger problems than worrying about my savings....like how to barricade myself in my house from the looters and rioters outside since all hell will probably break loose.

http://www.pornhero.com/iamlegend1.jpg
Oh no, the US dollar has just been devalued. My $1 million is only $500k now. and nobody wants to buy my gold.

http://www.pornhero.com/iamlegend.jpg
Oh no, here come the looters and rioters. Better hit GFY and get some sound advice from the know-it-alls like Eriic, xmas13 and IllTestYourGirls - who probably never had any savings in their life.:1orglaugh

Holy shit man, you serious?? I thought I lost a shitload... I agree, CNBC, Cramer and the rest of the pieces are shit are good for nothing :2 cents:

Sorry to hear about your loss.

I'm glad I got out of the market when I did. I got a 91% return, cashed out and put it all in gold when it was $600 to $700 an ounce. If gold takes off like I do believe it will...

Paying off mortgages and saving money is not an investment plan.

1m is not "rich" now, won't be in 15 or 20 years.

Also, if you make a lot of money, you are already "rich". :)

yeah it sucks monkey balls. But hey, easy come easy go. I still thank god everyday for the adult internet business and that fact i dont have to:

- get up with an alarm clock.
- fight rush hour traffic TWICE a day like I used to.
- forced to do what a retarded boss says
- need annual "Performance Reviews" yuck.

and so on and so forth.

This isn't the first time the stock market took a dive and it won't be the last.

You have a $100K portfolio... it is now worth $70K... You wait 10 years... the exact same stock without adding any new additions is worth $150K...

Basically you don't sell stock when it takes a dive.. .you buy a ton of it...

The additional $20K you bought when it was low is worth $45K in that ten years.. you get the idea.. I hope.

I hope your right... I havent sold the stock yet but it hurts to see $100k evaporate in a matter of weeks.

I do think though that this time is different. This isnt just a fear of a slowing economy or a terrorist attack. This exposes a fundamental instability/flaw in the system. Its a system that can do longer be trusted.:2 cents:

That's what everyone says every time we have a bear market. This is a typical bear market. And btw, "unprecedented" events occur in every bear market.

Currently, all the major indices are down 30% from their highs. The average bear market declines 20 - 30% peak to trough. Historically, the worse bear markets decline 50% from peak to trough. Lets say this particular bear market is going to be a really bad one. That means at most, the major indices will decline about 20% further from here. Also, your average bear market lasts approximately 600 days. Were about 300 days into our bear market.

All of the permanent damage will be done in the financials and housing sector. With a few exceptions, just about every other sector will recover just fine once wall street determines the economy is no longer in recession or heading deeper into recession.

The days will grow much slower if you keep looking at it. Don't sell. Just leave it alone, forget about it and turn off CNBC. Look at it again in 5 years. This is not the first time it's happened and won't be the last. But until your faith is restored, keep any new income stashed away...and start building up that savings account.

It's hard to keep your chin up when 100k is out the door and even harder to imagine brighter days in the market...but the other option is scooping up tons or bargin stock out there. And i'm sure that's hard to think about when 100k has been lost and even harder to actually do when in that mind frame....definately not for the faint of heart.

gold guns ammo

yeah man...5% GICs look pretty good right about now

if you can, you have to average down at these prices... yes you need more money and can be down more, but if you down 100k i assume your stock dropped over 40%... you can bring your average down big time, and when things will start to recover you can brake even ALOT sooner

Yep. But we need to get people to turn off the FUCKING TV and start to think again for themselves.

Tell that to people who bought stock in Lehman right before it tanked thinking it was a bargain...

You are right to a degree, but you are oversimplifying things a bit :2 cents:

good rule is buy when everyone else is selling :thumbsup

you can find exceptions to every rule... but those that buy stocks now, will make some nice $$ when the market rebounds within a few years

This is a GREAT time to invest. I've never seen so many great bargains in my life. Great companies are on sale.