Things you MUST do! And if you don't, then maybe you should not be in the GAME!
Cramer 3:16
For Money so loved the world, that it gave us beloved America, that whosoever believeth in it shall not be poor, but have riches for everlasting life.
For Money so loved the world, that it gave us beloved America, that whosoever believeth in it shall not be poor, but have riches for everlasting life.
posted by Elmo at 8:10 PM
6 Comments:
For the record. I did not lose a damn dime in my 401K last year. In fact, I gained three tenths of one percent. How much did you lose after I was made fun of for dumping into the "stable fund" in Feb of '08? 35%-40%!!!! Sucks to be you....
True story.
Video is down.
I lost 50% of my 401K. Any advice on what to do. I called my broker, but nada was done.
Well, damn. You got raked over the coals already. But first, dump your broker. You need to manage your own shit. I just recently started pulling out of my stable fund and started putting money into value funds(I only have a select array of mutual funds to invest in where I work). Your portfolio may give you a lot more options which can be harder to manage. But here is were I am with the mess we call our retirement gamble...
I think the bottom is here or near. There will be a stagnate feel for the next couple of years as the foundation forms. So now is the time to put money into safe value funds and some growth funds, even though the returns will be small to flat at first the "trickle up" will occur and the more money you put into the foundation the more return you will get from the inevitable up market. It will not be the bonanza profits the crooks and liars made...but that is what got us into this mess to begin with.
Thanks for the advice. I will make a call later today.
My 401K got out of fractions today and jumped 5%. Shit will level out and will be more like poring a slab. But the steady among us will see the light in a couple of years and that light will be clear and bright...
Shit,Elmo,We had our whole clientele in Double inverse funds tied to the Dow and the S&P. The problem was, everything kept jumping up. It would dip, then jump right back up, bleeding off profits. Clients were all very unhappy, even tho we kept telling them of the "approaching storm"... Some of them even threatened lawsuits. In May 2008, we moved everyone into safe funds and out of our put spreads and Double inverse investiture. At month's end, the business closed its doors, victim to the Greed of our affluent clientele who just weren't making enough return on their investments.
Three months later 13,000 jumps out a fucking window. I called my ex-boss and asked him if he wanted me to run the numbers to see how much we would have made the bastards, just for shits and giggles. He was just fucking sick, at himself, and at the nature of the beast that is today's market. DOUBLE Inverse Funds. That's 2 X whatever the dow or S&P goes down...
I told him, well, dont' feel bad, you told them so. And they all moved their money to some Charles Schwab, Merrill Lynch cocksucker who stuck them all in performance funds which just amped their losses tenfold.
I will tell you this- I'll NEVER put a dime in another fund or stock ever again, just like I won't put money in a slot machine. It's all bullshit, and just playing the game gives dicks like Kramer a percentage.
Buy property, buy what the fuck ever, hell INVEST in friends, family and your children. Cause even if you do get rich playing the market, you'll just end up like these bastards.
Hell, I'll stay fucking poor. I have my standards, after all.
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