Stock Market CRASH Thread....Are we all doomed?

[fang37]

A week has passed.

Nothing happening.

WHY?

[SoCal5252]

Pretty upset with my managed fund, been with them just over 2 years and had close to a 2% for that period, right up to this carnage.

My accountant recommended them because there're conservative and supposedly have the ability to 'turn on a dime' if things go south.

Well, here we are 3 weeks into this crash and no move on their part. I feel stuck now losing so much I almost have to stay with them to try and gain back these losses, if I can even come close I'll be telling them GoodBye.

I may have learned the hard way financial advisors are really only interested in collecting their management fees, at least this group anyway.

Made back about half of those losses in August.

Knowing now how fast things can go bad I'm still extremely apprehensive.

My hope is this stock fund can stay stable long enough for a boring 2% or so CD to come back into being. 'if ever?'

Edited October 16, 2015 by SoCal5252

[fang37]

I had a chat with Dr Faber last night & put this question to him.

He advised me directly to the point.

The conclusion was ...................................................................

You must pay me a lotta $$$ first.

[SpokaneAl]

Pretty upset with my managed fund, been with them just over 2 years and had close to a 2% for that period, right up to this carnage.

My accountant recommended them because there're conservative and supposedly have the ability to 'turn on a dime' if things go south.

Well, here we are 3 weeks into this crash and no move on their part. I feel stuck now losing so much I almost have to stay with them to try and gain back these losses, if I can even come close I'll be telling them GoodBye.

I may have learned the hard way financial advisors are really only interested in collecting their management fees, at least this group anyway.

Made back about half of those losses in August.

Knowing now how fast things can go bad I'm still extremely apprehensive.

My hope is this stock fund can stay stable long enough for a boring 2% or so CD to come back into being. 'if ever?'

I must have missed the crash/carnage - we had a bit of a correction, but I would not classify it as a crash. You don't mention your asset allocation but you did use the term conservative - if it is a conservative asset allocation perhaps you should be satisfied with your returns. And in regards to the firm being able to "turn on a dime" - good luck with that - I have yet to see anyone able to predict market moves with much reliability. They often get one move right and tend to live off the glory of that brief success for years to come. Edited October 16, 2015 by SpokaneAl

[SoCal5252]

Pretty upset with my managed fund, been with them just over 2 years and had close to a 2% for that period, right up to this carnage.

My accountant recommended them because there're conservative and supposedly have the ability to 'turn on a dime' if things go south.

Well, here we are 3 weeks into this crash and no move on their part. I feel stuck now losing so much I almost have to stay with them to try and gain back these losses, if I can even come close I'll be telling them GoodBye.

I may have learned the hard way financial advisors are really only interested in collecting their management fees, at least this group anyway

.

Made back about half of those losses in August.

Knowing now how fast things can go bad I'm still extremely apprehensive.

My hope is this stock fund can stay stable long enough for a boring 2% or so CD to come back into being. 'if ever?'

I must have missed the crash/carnage - we had a bit of a correction, but I would not classify it as a crash. You don't mention your asset allocation but you did use the term conservative - if it is a conservative asset allocation perhaps you should be satisfied with your returns. And in regards to the firm being able to "turn on a dime" - good luck with that - I have yet to see anyone able to predict market moves with much reliability. They often get one move right and tend to live off the glory of that brief success for years to come.

[fang37]

I wish that they would hurry up with this crash.

Make it a big one.

Then, something might be worthy of reading in the Somchai Times.

[sandyf]

I wish that they would hurry up with this crash.

Make it a big one.

Then, something might be worthy of reading in the Somchai Times.

Supposed to be scheduled for tomorrow, but time will tell, it usually does.

[fang37]

That is wonderful news.

Approx what time?

I would like to book a ringside seat.

Plenty of blood & dirty fighting, please!

[sandyf]

That is wonderful news.

Approx what time?

I would like to book a ringside seat.

Plenty of blood & dirty fighting, please!

The first move was made by the Keshe Foundation on Friday, their slogan is "Free Energy in exchange for World Peace".

The Pope is supposed to talk on the 20th.

[suzannegoh]

Yes, we were doomed:

http://profit.ndtv.com/news/market/article-dow-ends-158-points-higher-s-p-500-erases-2015-loss-1235865

[uksomchai]

Anyone interested in the EU market might like to watch yesterdays Daily Politics show on BBC. A very interesting interview with the ex greek finance Minister Yanis Varoufakis. I thought that they had sorted out the Greek mess but it seems not. According to him this November every single business in Greece from a one man band to a gigantic conglomerate has to pay ALL their taxes for 2016 in full, in advance. It also turns out that not a single Euro went to pay for anything in Greece but simply to pay of the interest on the debt they had. I thought the man was just a lefty idiot but it turns out that he has a rare trait in a politician ans that is morals. That is why he resigned. I'm far from being a money man in any way shape or form but it did give me a better insight into the Greek mess than I have had from watching other programs especially the news

[WorkingTourist]

Anyone interested in the EU market might like to watch yesterdays Daily Politics show on BBC. A very interesting interview with the ex greek finance Minister Yanis Varoufakis […] I thought the man was just a lefty idiot but it turns out that he has a rare trait in a politician […]

He has a long career in academics and is a professor of economics, so certainly not an idiot.

[uksomchai]

Anyone interested in the EU market might like to watch yesterdays Daily Politics show on BBC. A very interesting interview with the ex greek finance Minister Yanis Varoufakis […] I thought the man was just a lefty idiot but it turns out that he has a rare trait in a politician […]

He has a long career in academics and is a professor of economics, so certainly not an idiot.

I didn't mean to take the word idiot as an exact description but to many in the UK he is still a Lefty idiot. Like the new Labour leader and Chancellor. You can be well educated and intelligent but still an idiot.

Nothing to say about what he said then just to point out he is well educated ?

[bangmai]

Like this guy was saying on CNBC the other day.....If you like a stock at 10, you should like it more at 9...however, the attitude of the pros is: we didn't like it at 10, but we like it at 12, and at 20 it will be a "strong buy." I don't swear by Cramer (at him, sometime), but he , too, makes some great points...like when all the analyst list a stock as a "sell," it seems to often be a lot closer to its bottom than top. My personal experience was that a number of my stocks that were "avoid" shot up big this month. Chevron comes to mind. Exxon, as well. And the most unloved, uncovered sector led the rally: Utilities.

[johnson36]

Like this guy was saying on CNBC the other day.....If you like a stock at 10, you should like it more at 9...however, the attitude of the pros is: we didn't like it at 10, but we like it at 12, and at 20 it will be a "strong buy." I don't swear by Cramer (at him, sometime), but he , too, makes some great points...like when all the analyst list a stock as a "sell," it seems to often be a lot closer to its bottom than top. My personal experience was that a number of my stocks that were "avoid" shot up big this month. Chevron comes to mind. Exxon, as well. And the most unloved, uncovered sector led the rally: Utilities.

I agree with you 100%... When the professional analists recommend a sell it is after the stock has already dropped considerably and when the tell you to buy a stock it is after a considerable rise.

"Be fearful when others are greedy. Be greedy when others are fearful." ( Warren Buffett )

Baron Rothschild, an 18th century British nobleman and member of the Rothschild banking family, is credited with saying that "The time to buy is when there's blood in the streets."

Who wants to buy at the top of a rally ? not me

[WorkingTourist]

Since the catalyst seems to have been China, I found this quote from Tim Cook (CEO, Apple Inc.) on their latest financial call interesting:

[…] if I were to shut off my web and shut off the TV and just look at how many customers are coming into our stores regardless of whether they're buying, how many people are coming online, and in addition looking at our sales trends, I wouldn't know that there was any economic issue at all in China. And so I don't know how unusual we are with that, I think there's a misunderstanding probably, particularly in the western world, about China's economy, which contributes to the confusion.

[VIPinthailand]

me too I am an economist. ask me anything concerning your future American dream.

Edited October 28, 2015 by VIPinthailand

[bangmai]

Since the catalyst seems to have been China, I found this quote from Tim Cook (CEO, Apple Inc.) on their latest financial call interesting:

[…] if I were to shut off my web and shut off the TV and just look at how many customers are coming into our stores regardless of whether they're buying, how many people are coming online, and in addition looking at our sales trends, I wouldn't know that there was any economic issue at all in China. And so I don't know how unusual we are with that, I think there's a misunderstanding probably, particularly in the western world, about China's economy, which contributes to the confusion.

The misunderstanding is because the accounting methods used by the Chinese are a bad joke. Ford only made 20 million usd in China last Q, I think they were planning on 10 times that. Margins were excellent in the US, though, but the multi-nationals have very high expectations for Asian growth. Cummins was down big, yesterday.

[WorkingTourist]

The misunderstanding is because the accounting methods used by the Chinese are a bad joke. Ford only made 20 million usd in China last Q, I think they were planning on 10 times that.

Looks like car sales in China have been declining since January, but the trend turned in July.

August (where the “crash” happened) saw more car sales in China than the previous month, and September saw more sales than August.

Though there might be some seasonality to car sales, it’s not a market I follow.

Source: http://www.statista.com/statistics/276899/automobile-sales-in-china-by-month/

[bangmai]

http://www.wsj.com/articles/china-car-sales-driven-lower-by-slowing-economy-1441869976

[namarupa]

If you can't stand the heat, get out of the kitchen. Three questions to ask your financial manager before giving your hard-earned cash to him to play with: 1. How much of your own personal investment is in the portfolio you want me to purchase? 2. Show me your personal spreadsheets for the past five years displaying your performance. 3. If you are so good at managing funds, then why aren't you retired?

Me? Up 10% in the past two weeks. No fund manager. I buy single stocks that fit my criteria. Up over 40% compounded in the past 4 years.

Edited October 29, 2015 by namarupa

[SpokaneAl]

If you can't stand the heat, get out of the kitchen. Three questions to ask your financial manager before giving your hard-earned cash to him to play with: 1. How much of your own personal investment is in the portfolio you want me to purchase? 2. Show me your personal spreadsheets for the past five years displaying your performance. 3. If you are so good at managing funds, then why aren't you retired?

Me? Up 10% in the past two weeks. No fund manager. I buy single stocks that fit my criteria. Up over 40% compounded in the past 4 years.

Fortunately, in a bull market it does not take a great deal of skill to do well, and the last four years or so have really been terrific. I have done as well or close to what you did with no individual stock purchases or extensive analysis. I just maintained my consistent asset allocation via dirt cheap index funds and went on with life, just as I have done over the past thirty years.

[namarupa]

Well done! I basically purchase A++ stock (Valueline rated), high market cap, with at least a 3% dividend. Buy and hold. That's it.

Edited October 29, 2015 by namarupa

[fang37]

Late market adjustment!

Crash will commence next Tuesday @ 2pm - New York time.

It will be a big, big one.

[OneZero]

Late market adjustment!

Crash will commence next Tuesday @ 2pm - New York time.

It will be a big, big one.

I guess you still don't realize that the humor in what could be a serious thread (if it could even be call humor, more likely juvenile idiocy) has long passed it's expiration date.

[fang37]

I suggest that you lighten up.

Being over-sensitive in any market is a licence to failure.

[OneZero]

I suggest that you come to realize that attempting to be humorous once or twice may be welcomed (as I welcomed it), but endless repetition of the same thing has lost it's humor and wastes our time. I have appreciated your comments on other threads, but you are becoming monotonous on this thread.

[Naam]

Late market adjustment!

Crash will commence next Tuesday @ 2pm - New York time.

It will be a big, big one.

I guess you still don't realize that the humor in what could be a serious thread (if it could even be call humor, more likely juvenile idiocy) has long passed it's expiration date.

a serious thread?

[johnson36]

Late market adjustment!

Crash will commence next Tuesday @ 2pm - New York time.

It will be a big, big one.

I guess you still don't realize that the humor in what could be a serious thread (if it could even be call humor, more likely juvenile idiocy) has long passed it's expiration date.

Just ignore him. Obviously he is bored and doesn't know how and when to use humour, you think he would at his age !. I am sure if some one starts a topic on their partner getting cancer he will try is humour once more. He is bored with his life and is trying to entertain himself, nobody is laughing, only him. The Dow jones has gone from the 24th August low of 15667 to 17910 in 11 weeks. We will probably see 18000 this week and then the high is only 350 points away. There is no crash coming. He is just trying to scare investors. Anybody that bought in August / Sept / Oct is already doing well. I bought lots of shares on the dip in August

[fang37]

You guys may not enjoy my sense of humour. A level head is paramount in this game.

Too serious or too flamboyant spells disaster.

I entered the stockmarket in 1970. I have witnessed booms & busts. During a boom is too easy. Just buy & buy.

But, when to sell? That is the challenge.

I have been a chartist. I did not do my own research obviously. Best strategy - combination!

I was a bookmaker too.

So, it is not just a matter of picking the market & stocks. The quantum of each play is vital too.

How did I perform? Given the time involved, not worth it.

I was not a small player. Stockbrokers visited my home with their recommendations.

An observation. Invariably, punters have access to too much information.

BTW, I was a CPA too.

One of you is predicting the coming bull market. He is even stating how high the market will go.

In that case, he is either a BSA or in receipt of insider information. I'll have a big bet on BSA!

I wish each of you a lot of luck. Luck is necessary too.

Don't forget to inform the forum of your performance.

Bye