Dear psycho stock "investors"...
Please refrain from selling off your investments every time a dirty piece of bad news hits the stands. You are causing a lot of pain and torture to us patient ones. Unless you are elderly and/or about to retire, i do not like you.
Thank you kindly,
J. "My 401K keeps going down the tubes" Savings.
ps: i'm not bitter ;)
Thank you kindly,
J. "My 401K keeps going down the tubes" Savings.
ps: i'm not bitter ;)
Labels: cockamamy indeed, rant, stock market
posted by J. Money at
2:15 PM
10 Comments:
Now now J, you know the lower prices go the more shares we can buy. Just think how great it would be if all stocks dropped to a penny today. Low prices are good for buyers. They're only bad if you're planning on selling.
I'm laughing all the way to the broker everytime stocks drop. Double digit dividend yields are your friend :)
very true my good friend...i just had to let it out a bit though, ya know?
the positive J. would have said "ROCK ON! My employer is finally depositing a cple months of missing 401k deposits into my account Monday!" but that would be too easy ;)
i like the way you think though - hopefully we'll run into each other on millionaire island one day.
As Adam pointed out, this is the other side of Dollar Cost Averaging. When the market dips, you buy more shares for the same price. The balance sheets now look pretty grim, but it's the balance sheet at retirement that counts.
Alternatively, it's like the clock was rolled back to 2006 and you can invest the same prices.
J - I totally feel your pain. My stock portfolio has been getting pounded. I have given up most of the gains from the last 2 years. And the most annoying part is it is mostly due to baseless jitters like you mentioned.
That being said, you just have to keep your mindset the same as Adam and step3. If you are in it for the next 20-30 years, nothing could be better than a huge dip right now, so we can buy a bunch of stock on the cheap.
Like Step said, it is like buying back in 2006. Party like it's 2006!!
I feel you J. I looked at my 401k today and wanted to shed a tear. I lost over $1500 over the past two days.
thx for all the encouragement and reminders guys! while it sux now, just gotta remember we're in it for the long haul...as hard as it is sometimes.
But I say party on 2006!
I know how you feel. It sucks when people react to the market rather than be proactive to the market. Oh well, it all works out in the long run.
yeah... morons... my company's stock dropped $10 in the last month. $5 of that was because of Goldman Sachs issued a sell rating. Currently we have 4x as many analysts with buy ratings than sell or hold!... It seems that a bunch of monkeys could do a better job issuing analyst reports than the GS.
My parents, who wanted to retire in about three years - no longer can retire. They have lost more money than I think I have even earned in my lifetime in the last 7 months. It really stinks.
Of course, my mother, being so positive, says they really still have gained money, because they bought these stocks wayyyy back, like during the civil war or something, and they are still worth more than what they actually paid. I don't understand how she can make fun of the situation when on paper she has LOST OVER A MILLION DOLLARS!
before the civil war?! hahahha....omg that's funny...now your parents losing so much money? NOT funny :( def. sorry to hear that, but i'm equally as impressed with their positive outlook! good for them. and let's hope it turns around within the next 3 years so they can get back to their original game plan.
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