Thursday, November 20, 2008
Money Stop Selling Your Stocks, People Who Have Stocks! You Are Doing This to Yourselves! You Are Making Your Own Wealth Disappear!
Posted by Christopher Frizzelle on Thu, Nov 20, 2008 at 4:02 PM
News flash: The stock market is SO WEIRD.
Markets Dive in Last Hour, Carving New Lows
Wall Street doubled down on its losses on Thursday, just a day after financial markets closed at their lowest point in nearly six years.
In a day dominated by fear and uncertainty, financial markets plunged in late trading, carving new lows, in a melee of selling that cut across every sector of the market. Energy companies took the heaviest blows as the price of crude oil fell below $50 a barrel, and financial stocks sank sharply on fears that billions in government aid have done little to cure the financial and credit crises.
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1
If we tell the right people that everything is working fine, does that mean stocks go up? I don't understand any of this.
4
But can't you see the free market is working! As you well know, people only make rational decisions, especially when it comes to money!
Wait, what?
Wait, what?
5
But can't you see the free market system is working perfectly! As you well know, people only make rational decisions, especially when it comes to money!
Wait, what?
Wait, what?
7
@5, rational decision is exactly what trying to rush towards the exit before someone beats you means.
9
Um, I'm not selling. I'm buying.
Dollar cost averaging is cool.
It's the stupid people that are selling ...
Dollar cost averaging is cool.
It's the stupid people that are selling ...
10
Insert unsolicited plug for NPR podcast 'Planet Money' here. I never miss it now that the sky really is falling. And Will In Seattle I'm curious - what stocks have you been buying lately?
13
In real terms we have now wiped out about 13 years of growth (in terms of wealth).
I'm investing in wine. It's still rather a good investment, and should that change, it's still drinkable.
I'm investing in wine. It's still rather a good investment, and should that change, it's still drinkable.
16
It's possible people are selling because they need the money.
I had to sell off some mutual funds to cover some bills.
I had to sell off some mutual funds to cover some bills.
17
If you have money you won't need for 5-10 years, you should buy index-tracking funds. In the unlikely event that the market continues to tank and never recovers, your money will be useless anyway. If it recovers, you'll eventually make a killing.
18
I blame the buyers as much as the sellers. It takes two to tango, right? We bust drug buyers and drug sellers both don't we.
STOP BUYING, STOCK BUYERS! You're part of the problem too!
STOP BUYING, STOCK BUYERS! You're part of the problem too!
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