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  • I've lost thousands of dollars

    I know that I have lost thousands of dollars as a result of the stock market reaction to the recent horrifics, however for some reason I really don't care right now.

    I've decided to just let it ride as I think that would be best for the economy.

    Anyone else feel that way?

  • #2
    I'm sorry to hear that, WW.

    I agree that these are difficult times for us all, financially.

    Your views and actions, are admirable!
    [email protected] "Where there is love, there is no imposition"- Albert Einstien.

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    • #3
      Same boat here, WW. Gotta let it ride.
      Dave Kiefner
      [i]Die Wahrheit ist eine Perle. Werfen sie nicht vor die S

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      • #4
        Think long term WW, the stock market by nature is a long term investment tool for the majority of us. Although money can be made on speculation the majority of it is made by owning profitable companies for a long period of time. Don't make a rash decision that will cost you in the long run.

        This may even be a good time to buy stocks as the price is low and the prospect for recovery is good.
        Graeme

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        • #5
          If you need consoling ww, I'm here for you...
          People have more fun than anybody.

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          • #6
            It depends on what you are holding?

            Koenig

            ps
            I have been short on most things for three years know!!!!! My posting is not ment to tease you about loosing money but to ease your mind, some things are safe!!!Despite the losses you will be back up if your in traditional long term safe areas.....

            [ 10-12-2001: Message edited by: koenig ]
            #||||
            "I think the mistake a lot of us make is thinking the state appointed psychiatrist is our "friend."

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            • #7
              I wish I had the money to invest.

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              • #8
                That's the beauty of not having thousands of dollars...never having to worry about losing it!!

                (Heyyy Nite you were typing that the same time i was lol...money isnt' everything...so they tell me)

                [ 10-12-2001: Message edited by: jellybean40 ]
                "You did what you knew how to do...and when you knew better, you did better." ~~Maya Angelou

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                • #9
                  WW,


                  If you did buy a stock however that was a flyer and obviously overvaluated, when you bought, consider selling it. I'm talking about company's with little or no history, like a internet start-up. If you bought a company with solid management and a even long term trading history, keep it.

                  Juring the market crash of 1987 the people that where in the same posistion as you that sold, long term stable company's made it worse for themselves by selling. They had sold at a loss, suddenly when things returned, they no longer had the money to come back into the market and those companies that where surviving took off again.

                  Sheep get slaughtered!!!!!!

                  In 87 I know a couple that cashed out of all stocks, RSP's, mutual funds at a big loss. They ended up taking on huge debt, net result they had to sell there house to pay off debts. If they would have held course the stocks they sold rebounded so much that they would have doubled even tripled the money and would have been able to buy a nicer house.

                  Koenig

                  tip-Buy Gold stocks if you can!!!!!!
                  #||||
                  "I think the mistake a lot of us make is thinking the state appointed psychiatrist is our "friend."

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                  • #10
                    WW,

                    I am in the same boat--have lost thousands, but will ride it out. It is too late to sell now.

                    Retired
                    Retired

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                    • #11
                      Well WW, your post made me dig out the ol' portfolio (both pages of it) and take a look. While I "lost" a lot of dollars on paper, I am $185.14 ahead when I compare only the money taken out of the family's pocket to my current holdings. At the current rate of decline however, I should be in the negative by,................ now. Oh well, what are you going to do. As long as you are not retiring tomorrow, let it ride.

                      And Nite. Do you have a defered comp plan at work? If you can afford to live without $25 a paycheck or so, even that can give you enough extra at retirment time for a little vacation or a new car.

                      [ 10-12-2001: Message edited by: DesertRat ]

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                      • #12
                        DesertRat, Is that the same as a 401k retirement plan?
                        "To each his own"

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                        • #13
                          WOW ,sorry to hear alll the losses. Yesterday I made 3800 + by manipulating my 401K from one plan to another. In doing so I picked up over 100 shares. Talk about lucky, if I had waited till today I wouldnt have made near as much due to the Anthrax news.

                          I bought when it was as low as it had been ,waited it out till it got back up and sold,therby making a good profit. With the recent news, it'll go down again, I 'll wait awhile until it eaks up and then buy some more. Being a 401K, I cant touch it till I retire.

                          If your plan allows it, you might consider moving your funds to a more stable plan. I basically switch mine back and forth,sometimes several times a week by watching the market and the conditions.So far I've done very well. Perhaps you could do the same and minimize your losses.
                          "The American People will never knowingly adopt Socialism. Under the name of "liberalism" they will adopt every segment of the socialist program,until one day America will be a socialist nation without knowing how it happened."

                          Norman Thomas

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                          • #14
                            Yes, we lost thousands too. But, witht he illness of our son and the War, I find myself very calm about it.
                            Times have changed so much. I think the WTC tradegy has made a lot of people rethink their lives. What once seemed so important isn't. I look at the skies and trees more now.....and I take time to smell the roses!

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                            • #15
                              "And Nite. Do you have a defered comp plan at work? If you can afford to live without $25 a paycheck or so"

                              Not always. Some weeks really get that tight.

                              Comment

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