Very funny ad (mutual fund store) for corp people
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This may be slightly off topic but:
Something to think about. I find something odd about sending your life savings to people you have never met(and will never meet). You have no idea where your money actually is,who is handling it and if some fund manager will be running off to the Caribbean with it, at the first sign of trouble.
The reality is most of the investors in this country do just that.
If people work as hard to safeguard their cash as they did to earn it ,the Bernie Madoffs out there would not go on for years before getting caught.
Something to think about. I find something odd about sending your life savings to people you have never met(and will never meet). You have no idea where your money actually is,who is handling it and if some fund manager will be running off to the Caribbean with it, at the first sign of trouble.
The reality is most of the investors in this country do just that.
If people work as hard to safeguard their cash as they did to earn it ,the Bernie Madoffs out there would not go on for years before getting caught.
Very true. Most have an unrealistic confidence in the financial world, assuming safe guards are there to protect against fraud. Bernie proved a lot. I personally have lost total confidence in the financial system, corporate world and the gov't. When I was younger I had confidence in all of them.
I had no choice. The mattresses all got full.
firebroad
Minister of Fire
Ever since getting creamed in the market in the 80s, i dont bet on something i know nothin about,or have no control over. (except marriage) Live and learn.
I personally have lost total confidence in the financial system, corporate world and the gov't. When I was younger I had confidence in all of them.[/quote]
DITTO ON THIS
DITTO ON THIS
I've done all right but just don't have the confidence in the market as I did 10 years ago no way.I blame the government for my feelings just don't trust as I did.
BTW what is meant by ymmv
If i were heavily into the market id be a nervous wreck. Every blip on the radar has the market gyrating. Seems like its one terrorist attack or poor financial report or natural disaster from a meltdown. But, we are born gamblers so for some it must be exciting.
I don't find it particularly exciting, nor do I react to every swing, nor do I consider myself a gambler. I'm a buy and hold investor, not an active trader. I still own shares I bought in the early-mid 1980's, some with eye-popping gains. I've lived through a few market "crashes" and come out just fine in the long run...and it's the long run that counts for me. I'm by no means a nervous wreck. Different strokes.
Iv got a relative with a lot of money in the market, about 1 million.Hes been saving 50% or more of his salary his whole life and hes about 56. He lost about half of it in 2008. Has since gained most of the loss back, but he did lose 5-6 years of time in recovering.
The dot com bust and the 2008 real estate bubble had some pretty obvious warning signs 1-2 yrs before they happened. We went to most cash positions a year before both. True we didn't make a lot of money in those years, but we also kept losses to a minimum. My sense says we're riding a QE bubble right now and it is showing up in equities. Companies seem overvalued which usually means a correction is due. I think we'll be pulling back and going to mostly cash again soon.
firebroad
Minister of Fire
I mostly saved my money in CD's. When interest rates went south, I started putting a large chunk away in an annuity, and I have a deferred comp program where I work, and that is stock based, as well. Got busted in the chops a couple of times with plummeting stocks, and am just keeping my fingers crossed for the next 6 years.
As it is, the two companies that I deal with are just itching to get at whatever liquid savings I might have stashed away for a rainy day. Every six months one will contact me to increase my contribution, and the other will be calling to try to interest me in some wonderful investment.
Does anyone else think this is kind of like plugging a leak with ice cubes?
As it is, the two companies that I deal with are just itching to get at whatever liquid savings I might have stashed away for a rainy day. Every six months one will contact me to increase my contribution, and the other will be calling to try to interest me in some wonderful investment.
Does anyone else think this is kind of like plugging a leak with ice cubes?
Faith in the market is only as good as faith in the us economy and the Govt that runs it. Paper assets will lose its appeal if the govt fails to come out of its tailspin into debt.Not much in the way of a sure thing out there anymore.
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