Can't take it anymore!

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Oct 6, 2008 4:46 pm

I sold out of some american funds today. 115k in am funds in may 08 went to 86k today and sold off about 50k. markets going lower. I'll get back in at 8000. no reason for the worm to turn .

Oct 6, 2008 4:48 pm

No.

Oct 6, 2008 4:56 pm

no what?

Oct 6, 2008 5:03 pm

mark my word eventually going to 8000. I'l wait and report back.

Oct 6, 2008 5:05 pm

am mny mkt. when it hits 8000. i'll buy the same funds.

Oct 6, 2008 5:19 pm

You must really hate your money.

 
You will pay fees, yet again, to get back into funds you shouldn't have moved out of in the first place. Said fees would have been better off buying MORE SHARES to build more wealth since you believe and know the markets will turn around.
 
Apparently you hate simple math and reasoning as much as you do your own wealth. Sucks to be your clients (if you are, indeed, a FA)
Oct 6, 2008 5:28 pm

c shares buddy! go ahead ride the market down. 2% div reinvested isn't going to save you this time.

Oct 6, 2008 5:30 pm

Yeah. the 1% back end fees on C's make you a ******* genius.

Oct 6, 2008 5:32 pm

I said i went to c share money market, same fund family. i'm brighter  than you think!

Oct 6, 2008 5:37 pm

It's just gambling, the worst thing would be if you make money. Eventually, you will trade against yourself to the mean, and then below. It's inevitable. Trust me, I know.

Oct 6, 2008 6:07 pm
ezmoney:

I sold out of some american funds today. 115k in am funds in may 08 went to 86k today and sold off about 50k. markets going lower. I'll get back in at 8000. no reason for the worm to turn .

 
So you took short term money, put it into the market during a bear market, took a 25% hit, then went to cash?  I don't think you are as bright as you think you are.  My first question is, why only 50K?  If the market is going 20% lower, why not dump all into the mmkt?
Oct 6, 2008 6:39 pm
ezmoney:

I sold out of some american funds today. 115k in am funds in may 08 went to 86k today and sold off about 50k. markets going lower. I'll get back in at 8000. no reason for the worm to turn .

 
I must say, I do consider myself to be the most freaked out person on this board.  With pre-retiree accounts down easily 20% now.  I have a few years cash stored away and VA's with living benefits (hopefully for the long term).  The mutual funds are getting killed, especially the "balanced" ones...those mother effers.
 
Anyways, I would love to be buying here if I had the money personally.  But as much as I want to sell, I know it is the wrong thing.
 
The thing is, the market will turn on a dime for no reason at all.  It may rally for a week, maybe 2 months, whatever.
 
What if the market never reaches 8000?  What then?
 
I won't get on your case for selling because I know I wake up in the middle of the night too, but the point to sell left the station long ago.  (Hopefully).
Oct 6, 2008 6:43 pm

Down 20% is not terrible.


I always just remember, it's not my money, anyway. Seriously, they pay us for discipline, EZ is free to gamble.
 
Some CFP on Fox was saying folks should sell their 401ks down to 25% equity. No data gather, goals, timelines, nothing. They should take her before the board of ethics.
Oct 6, 2008 8:11 pm

Here's by biggest concern for people jumping out of the market...this thing could gain back 10-15% in a matter of DAYS (I mean, WHEN it starts to come back, which we don't know when). So if your account (or a client's) is down, say, 25%, and you miss a 10-15% rally, you just locked in a 10-15% loss by not being in the market. I gree, I think it WILL continue down. But if you are going to be in the market for the long-term, and you didn't know enough to get out in 2007, then you're sort of stuck.

Oct 6, 2008 8:34 pm

YOU SHOULD HAVE BOUGHT MORE!! You're the broker and capitulated to fear ... hate to say it but that was LAME.

Oct 6, 2008 9:35 pm

Its great to see that everyone is pretty much in agreement that the market will keep going down. This is bullish news.

I was buying this afternoon - etf's  - Consume staples, healthcare, aerospace and defense, insurance, DVY

Oct 6, 2008 11:11 pm
ezmoney:

I said i went to c share money market, same fund family. i'm brighter  than you think!

 
EZ, is this your personal money or client money you're talking about?
Oct 7, 2008 12:26 am
Indyone:
ezmoney:

I said i went to c share money market, same fund family. i'm brighter  than you think!

 
EZ, is this your personal money or client money you're talking about?



If it is C-shares, it's probably his personal money...he wanted to take advantage of those no-load shares.....

Personally, I think E-Z just called a bottom for us...but not at 8000.

Oct 7, 2008 8:19 am

benz pymnts are fine. recurring revenue will more than withstand this market even after the 25% paycut. wouldn't want to be a transaction broker. new money will be dead in the water for 3 mths easy.

Oct 7, 2008 9:59 am

May I respectfully submit to members that are perhaps feeling more than " on the edge " this really is the time for you to offer Value Added Service to your clients. Easy to handle making money for clients not so when we are in " situations ". Review , prepare and look at options for your clients. I realize very well this is not " pretty " but again this is why you are a professional and this is why you have clients. If you panic ..... I can absolutely guarantee that your clients will panic. Continue to work on a logical approach and not an emotional resposne.