How Are People Coping In The Current Global Crash?

[ExpatJ]

Morning all- no doubt like me you are tuned to cnbc and/or checking the financial news compulsively right now.

I am now 70% cash in my porfolio after big sell off this morning (took a hit, but overall up on my equity trades for the year); 20% stocks (these were my worst performers over the last year and so far down no point in selling now anyway, but i have long term 20 year time horizon for stocks so can live with them), 10% gold.

Thinking of putting more into gold.

How are others dealing with the situation?

[soi41]

ExpatJ.

You are doing the classical mistake most small investors (me included). When the market is bleeding: TIME TO BUY. So my advice would be spend 20% of yuor cash buying this afternoon. Yes it might continue down Monday=BUY MORE. Good stocks IMO at the moment are stocks close to the government to take charge, those "political" stocks are ITD. PLE, ADVANC. INTUCH, WIN. All own by families close to the PT-party. And as we are in Thailand, we all know how things are working.

Best of luck to you.

[terryp]

you aint seen nothing yet, if you buy now your mad...next week is going to be a blood bath

Rumours all over the net about how Italy is about to have a run on its banks starting today when Europe opens(Larry Kudlow) Gold is about to get hit so wait and buy gold NOT silver

But remember its all a gamble whatever you do as it is all totally manipulated

[pomchop]

you aint seen nothing yet, if you buy now your mad...next week is going to be a blood bath

Rumours all over the net about how Italy is about to have a run on its banks starting today when Europe opens(Larry Kudlow) Gold is about to get hit so wait and buy gold NOT silver

But remember its all a gamble whatever you do as it is all totally manipulated

The tide comes in, the tide goes out.

When the tide comes in everyone wants to go jump into the ocean until they are usually in over their heads.

When the tide goes out you get to see who has lost their pants.

Edited August 5, 2011 by pomchop

[midas]

ExpatJ.

You are doing the classical mistake most small investors (me included). When the market is bleeding: TIME TO BUY. So my advice would be spend 20% of yuor cash buying this afternoon. Yes it might continue down Monday=BUY MORE. Good stocks IMO at the moment are stocks close to the government to take charge, those "political" stocks are ITD. PLE, ADVANC. INTUCH, WIN. All own by families close to the PT-party. And as we are in Thailand, we all know how things are working.

Best of luck to you.

someone could very well have made this same comment as you at the beginning of 2001........................

[ExpatJ]

ExpatJ.

You are doing the classical mistake most small investors (me included). When the market is bleeding: TIME TO BUY. So my advice would be spend 20% of yuor cash buying this afternoon. Yes it might continue down Monday=BUY MORE. Good stocks IMO at the moment are stocks close to the government to take charge, those "political" stocks are ITD. PLE, ADVANC. INTUCH, WIN. All own by families close to the PT-party. And as we are in Thailand, we all know how things are working.

Best of luck to you.

Well i hedged- and kept 20% in stocks...Good point about those companies with family connections

[Artamus]

Best way I know how to deal with it is to switch off the TV, go outside and have a good time.

[cloudhopper]

Well your gold certainly appears to have held up quite well so far c/w the other genres and if the CBs are unwilling/successful in inflating, your cash will have increased purchasing power in a deflationary credit collapse.

[lazygourmet]

Best way I know how to deal with it is to switch off the TV, go outside and have a good time.

+1

[rucus7]

I have to admit after reading this post I felt concerned. I checked my two accounts. Everything appears to be in order. The money is still in both socks under the sink.

[WilliaminBKK]

Buy into dividend paying company's I guess. Gold and currency scare me.

What scares me more is the mutual fund kids who manage my money have no clue what recession really means, they talk job growth/loss as the barometer and when I am looking at them I think I have shoes older than them.

[likewise]

different ways of handling this, if you already have stocks of certain company, buy more so average cost goes down, of course gotta make sure you do not need that money to pay the rent

Just wait till the storm passes and go out and enjoy yourself

[flying]

As for the markets you dont have to bleed today.

Yes many will say blood in the streets time to buy...up to you.

I am not a market person but if I were to re-enter ( I won't ) it would be energy & commodities only.

As I mentioned in the gold thread...cycle types forecast a low in early August but these days a low is

never what those waiting to get in or get more hope it is. But still they also forecast 3rd week of August could be a last chance to get physical at reasonable premiums. All interesting to read but I am set where I stand.

As I have said many times in the last 3 years in the Financial crisis thread.....these years have been a prepping gift. Now is not the time to start prepping & hopefully you are where you want to be in that regard.

Lastly one more thing from the cycle types........

(I do not position my life by what cycle types say... but find them to be interesting to read & then watch to see how accurate they were.)

They say War cycles are coming together this coming September.

Given the recent rumblings of Israel towards Iran I have wondered the same.

At the end of the day who knows eh? You do what you can & position yourself based on what you see

as possible outcomes ahead.

Good Luck

Edited August 6, 2011 by flying

[retailking]

Short the Euro and Yen.

Classic mistake made by traders is to assume money will move into gold. Golds gonna drop like a ton of bricks, all who r heavy on gold will sell and stay in cash.

Right now short euro, thats the best trade.

wait for september to start buying stocks.

goodluck

As for the markets you dont have to bleed today.

Yes many will say blood in the streets time to buy...up to you.

I am not a market person but if I were to re-enter ( I won't ) it would be energy & commodities only.

As I mentioned in the gold thread...cycle types forecast a low in early August but these days a low is

never what those waiting to get in or get more hope it is. But still they also forecast 3rd week of August could be a last chance to get physical at reasonable premiums. All interesting to read but I am set where I stand.

As I have said many times in the last 3 years in the Financial crisis thread.....these years have been a prepping gift. Now is not the time to start prepping & hopefully you are where you want to be in that regard.

Lastly one more thing from the cycle types........

(I do not position my life by what cycle types say... but find them to be interesting to read & then watch to see how accurate they were.)

They say War cycles are coming together this coming September.

Given the recent rumblings of Israel towards Iran I have wondered the same.

At the end of the day who knows eh? You do what you can & position yourself based on what you see

as possible outcomes ahead.

Good Luck

[midas]

Short the Euro and Yen.

Classic mistake made by traders is to assume money will move into gold. Golds gonna drop like a ton of bricks, all who r heavy on gold will sell and stay in cash.

Right now short euro, thats the best trade.

wait for september to start buying stocks.

goodluck

As for the markets you dont have to bleed today.

Yes many will say blood in the streets time to buy...up to you.

I am not a market person but if I were to re-enter ( I won't ) it would be energy & commodities only.

As I mentioned in the gold thread...cycle types forecast a low in early August but these days a low is

never what those waiting to get in or get more hope it is. But still they also forecast 3rd week of August could be a last chance to get physical at reasonable premiums. All interesting to read but I am set where I stand.

As I have said many times in the last 3 years in the Financial crisis thread.....these years have been a prepping gift. Now is not the time to start prepping & hopefully you are where you want to be in that regard.

Lastly one more thing from the cycle types........

(I do not position my life by what cycle types say... but find them to be interesting to read & then watch to see how accurate they were.)

They say War cycles are coming together this coming September.

Given the recent rumblings of Israel towards Iran I have wondered the same.

At the end of the day who knows eh? You do what you can & position yourself based on what you see

as possible outcomes ahead.

Good Luck

" Golds gonna drop like a ton of bricks " - why ?

" stay in cash." which currency ?

[jamescollister]

Bit of a worry all this, checked my ducks, chickens and fish. Still there, won't starve. Rubber trees are still producing and if the price doesn't go under 100 Baht a kilo, there will still be money for beer. What more do you need. Jim

[55Jay]

Think we'll see a fuller impact on Monday of US getting knocked down to AA by 1 of 3 and in coming months, the actual details of that latest US budget "plan" start coming out. Seemingly omni-present "special commissions".

If I had the US Gov's financial plan as my own, and had to answer a loan or credit card app's simple questions - How much do you make? How much to you owe?, reckon I would never be approved and worse, my credit score would of been in the toilet long ago.

The hypocrisy of US politicians was on display (again) a couple weeks ago on this issue. We were indifferent to the whole credit rating process while we were a comfortable AAA, but with the threat of a possible downgrade, politicians (on camera even) pulled the ratings guys up to the Hill to question what right private institutions have in assigning credit ratings to governments in the first place. I say the US Gov got their just deserts for that stunt, which was akin to some McCarthy style rant or Mafioso intimidation tactic. Didn't work. In fact think all the raised voices and indignant blustering by the US politicians had the opposite effect. We got put on the negative outlook list and now, one of 'em had the brass gonads to down grade. I sense there will be a few more helpings of Humble Pie to come, instead of Apple Pie. Side order of bitter pill in lieu of vanilla ice cream.

As for my reality on the OP Q, trying to consolidate to cash even as baht ~usd rides 29 point something range. Never thought I would be praying for 30. Took a $40/mo tax hike on my pension earlier this year when the "Making work pay" credit ended. I know, I know, it's not a tax increase. I explained to Thai wife and she failed to see that logic spurned by Democrats, but I'm sure that 40 bucks is going to a worthy cause back in the US of A. Portfolio up to 62k last week, the highest I can remember in a decade. Was going to sell it off, didn't want to be "emotional" and after hearing the AA down grade news early this morning, checked, down to 54k. Presume we are in for another ride down. If it creeps anywhere back toward 60 for even a second, I'm on the phone. Ridden this roller coaster two too many times. I'm done with it. I'll take cash for now.

The medium term CDs on other primary capital, for me anyway, has been my more recent bread and butter at 2.23% for a supplemental monthly top up. Fear it'll look more like the rest of the world's interest rates very soon.

Lose the job, I'll be in LOS full time surviving on what's left, and with the Baht sliding around the 29.XX range, I'll actually have to re-do the math for the visa monthy income test, worse if interest earning rates take a big cut. Who knows what things will look like at the end of this year/next year. Might end up being neutral to shift some funds into Thai bank for the annual visa show money. If it ends up being a more consistent gain, that'll be a watershed moment.

[ExpatJ]

Will be intresting to see what happens on Monday after the downgrade..i predict an initial drop followed by rally in the week- but the news from europe will cause another major crash in coming weeks i believe now that Italian bonds are under attack.

I sold at a loss last week so am mostly cashed out and can enjoy the show so to speak- but am waiting to jump in again soon with some value buys of major Thai growth stocks and a US plus Asia mutual fund or two.

Edited August 7, 2011 by ExpatJ