Skidmore
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Mon Oct-06-08 11:23 AM
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This morning on MSNBC, I heard one of their economic analysts say that |
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that people should take any money they needed for the next five years out of the stock market. Did anyone else hear that. I wanted to post this earlier but because I wasn't in the same room as the television I couldn't see who it was nor did I catch the man's name. Did anyone else see this?
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bklyncowgirl
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Mon Oct-06-08 11:23 AM
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1. That was Jim Cramer. Scary news. |
Oceansaway
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Mon Oct-06-08 11:24 AM
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2. it was the mad money dude...the same |
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fukwad that told everyone to invest in this crazy market...
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mwb970
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Mon Oct-06-08 11:25 AM
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3. I missed the segment, but the idea seems logical. |
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I pulled my retirement fund out of stocks a year ago. I'll buy back in once the market hits bottom, and then just ride it back up again.
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Submariner
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Mon Oct-06-08 11:40 AM
Response to Reply #3 |
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I pulled out and a few months ago lamented that I probably lost about another 5% rise in stock income overall, but after what I've seen lost since Spring, I'm damn glad I got out.
The folks that are 100% in on their 401(k)'s must be heart sick.
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msallied
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Mon Oct-06-08 11:26 AM
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4. Just saw a headline that says Treasury bonds are the way to go right now... |
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Apparently they are soaring in the wake of this crisis.
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Max_powers94
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Mon Oct-06-08 11:27 AM
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5. I am out untill next year |
Median Democrat
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Mon Oct-06-08 11:29 AM
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6. Actually, People Should Do That In Any Event, Not Just Due To The Crisis |
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If you need money to use in five years, it should not be in the stock market. Always rebalance your portfolio, and not just due to the most recent gyration of the DOW.
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David Zephyr
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Mon Oct-06-08 11:39 AM
Response to Reply #6 |
13. That's a very good point you make. |
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Investments should be long term. You made a very good point that should be obvious, but isn't.
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billyoc
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Mon Oct-06-08 11:29 AM
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7. This is only conventional wisdom. Any money that you will need in the short term, |
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i.e., the next 5-10 years, shouldn't be IN the stock market. That money should only be in bonds or cash.
Nothing alarmist about a statement like that, just common sense. :hi:
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cliffordu
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Mon Oct-06-08 11:32 AM
Response to Reply #7 |
10. Gawddammmit, Billy. There you go again gettin' all level headed and handing out |
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non flammible specifics again.
You really can take all the fun out of a moanday mourning.
:patriot:
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billyoc
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Mon Oct-06-08 11:38 AM
Response to Reply #10 |
12. I hated to do it this time, I really did. |
high density
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Mon Oct-06-08 11:30 AM
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The stock market is not a place for short term savings.
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Blue_In_AK
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Mon Oct-06-08 11:32 AM
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9. We took our IRAs out of the stock market |
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some time ago and have put it in money market accounts where, although we're not making much, at least we've stopped the massive hemorrhaging. This is all really disturbing to people our age (60s) who have worked hard all our lives, paid our bills (and mortgages) and thought maybe we could feel somewhat secure as we've aged out of the workforce.
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David Zephyr
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Mon Oct-06-08 11:37 AM
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11. People are taking money out which is why it is falling. At some point, it will be a bargain. |
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People are parking their money into bonds, CD's, etc.
But at some point, the market will be a real opportunity, too.
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DU
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Fri May 03rd 2024, 10:00 AM
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