Poll

7 votes (63.63%)
5 votes (45.45%)
4 votes (36.36%)
2 votes (18.18%)
2 votes (18.18%)
3 votes (27.27%)

11 members have voted

MrV
MrV
Joined: Feb 13, 2010
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August 21st, 2015 at 4:56:35 PM permalink
Hello, overdue correction.

Now let's see if the bubble affecting collectible Ferrari prices collapses.
"What, me worry?"
RaleighCraps
RaleighCraps
Joined: Feb 20, 2010
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August 21st, 2015 at 5:51:24 PM permalink
Quote: MrV

Hello, overdue correction.

Now let's see if the bubble affecting collectible Ferrari prices collapses.



I'm betting we see 20-30% on this correction, depending on what the fed decides to do/not do in Sept. Either way, once the free fall ends, we flat line for a few months.
Always borrow money from a pessimist; They don't expect to get paid back ! Be yourself and speak your thoughts. Those who matter won't mind, and those that mind, don't matter!
odiousgambit
odiousgambit 
Joined: Nov 9, 2009
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August 21st, 2015 at 6:17:21 PM permalink
Quote: RaleighCraps

I'm betting we see 20-30% on this correction, depending on what the fed decides to do/not do in Sept. Either way, once the free fall ends, we flat line for a few months.



we're pretty much at a 10% correction now and I have been buying

20% - it's possible, but if so, TINA* is dead. So what alternative is looking good now?

Well, maybe the sheer momentum ... and the fear of catching the falling knife... will take us there. Can't be ruled out.

30% will mean I missed the bottom, I won't have any purchasing power left. In any case a flat line for a few months will be OK as long as it's like 2009 with a steady climb back. Longer than that and I will get hurt.

* http://thereformedbroker.com/2013/02/05/t-i-n-a-or-the-sellers-dilemma/
the next time Dame Fortune toys with your heart, your soul and your wallet, raise your glass and praise her thus: “Thanks for nothing, you cold-hearted, evil, damnable, nefarious, low-life, malicious monster from Hell!” She is, after all, stone deaf. ... Arnold Snyder
teddys
teddys
Joined: Nov 14, 2009
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August 21st, 2015 at 6:51:05 PM permalink
I'm really sick of stocks. Of course I would not be saying that if I had picked winners. But I picked a bunch of individual stocks which are down a lot. So it goes . . .

I'm more into illiquid investments right now. Making a couple real estate plays. But maybe I'll buy more stocks if prices go down a lot. Or at least rebalance.
"Dice, verily, are armed with goads and driving-hooks, deceiving and tormenting, causing grievous woe." -Rig Veda 10.34.4
MrV
MrV
Joined: Feb 13, 2010
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August 21st, 2015 at 7:08:12 PM permalink
I helped fund the purchase of my 456 GT with profits from the sale of MGM and LVS stock.

As with most things, timing is everything.
"What, me worry?"
TwoFeathersATL
TwoFeathersATL
Joined: May 22, 2013
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August 21st, 2015 at 8:53:07 PM permalink
Quote: MrV

I helped fund the purchase of my 456 GT with profits from the sale of MGM and LVS stock.

As with most things, timing is everything.



"Your 456 GT"...,...,,
I'll race you in my Camry.
In reverse only, you can pick the road.
I could tell you a story about racing backwards.
But it might scare you away,
And you probably wouldn't believe it anyway ;-)

Edit,
Sparkles said no, no more racing backwards.
I have to retract my dare.
I did call R------ and have a laugh.
He was a passenger, just once, when this happened.
He's never been the same....
Youuuuuu MIGHT be a 'rascal' if.......(nevermind ;-)...2F
MrV
MrV
Joined: Feb 13, 2010
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August 21st, 2015 at 11:28:02 PM permalink
The best way to make good money in a casino is to own it.

Or a chunk of it.

Ah, gambling stocks!

Yeah, I made a good profit, and applied it towards the purchase of an entry level exotic.

Such is life.

As my Gambling God Alfred E. Neuman says:"What, me worry?"
"What, me worry?"
odiousgambit
odiousgambit 
Joined: Nov 9, 2009
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August 22nd, 2015 at 2:48:07 AM permalink
Quote: teddys

I'm really sick of stocks. Of course I would not be saying that if I had picked winners. But I picked a bunch of individual stocks which are down a lot. So it goes . . .

I'm more into illiquid investments right now. Making a couple real estate plays.


Unsolicited advice time.

Do you get illegal-level inside information from somebody on individual stocks? No, it appears. Then quit buying them. It's the age of ETFs. Don't know which ones to buy? Google it, like "S&P 500 etf" ... pops right up. Just make sure the fund has hundreds of millions of dollars in it at least and isn't weird like an etf for bbq'd pickle companies. Still don't know what to do? Call Vanguard or T Rowe Price and have them walk you through setting yourself up with a brokerage account you can access online. Or just set it up online. If working, pile into any 401k type stuff for sure especially if the company matches some of it.

If you have a decent horizon [more than 5 years] and use dollar cost averaging + diversification, you can't really miss. It's practically unheard of to lose money that way over 10 yrs and literally unheard of if over 15, Great Depression or Great Recession included. Those are well-known facts, and I'll add to that the remarkable outcome of a 30 year record and the absolute miracle of a 40 year one [that I hope to see, I was dead broke in 1982]

Quote:

But maybe I'll buy more stocks if prices go down a lot. Or at least rebalance.


You're a gambler and probably want to do market timing. You'll never get the stamp of approval from any financial adviser for that. Rebalancing though is very similar and an adviser will sing your praises for it. So you get your gambling fix and praise for it all at the same time! Rebalance sir! Now is the time! [but spread it out for dollar cost averaging]
the next time Dame Fortune toys with your heart, your soul and your wallet, raise your glass and praise her thus: “Thanks for nothing, you cold-hearted, evil, damnable, nefarious, low-life, malicious monster from Hell!” She is, after all, stone deaf. ... Arnold Snyder
EvenBob
EvenBob
Joined: Jul 18, 2010
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August 24th, 2015 at 12:06:59 PM permalink
Down over 1000 this morning, headed that way again
at 3pm EST. FOX business is covering it without commercial
breaks. Some are predicting insane mode in the last 15 min.
"It's not enough to succeed, your friends must fail." Gore Vidal
rxwine
rxwine
Joined: Feb 28, 2010
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August 24th, 2015 at 12:57:12 PM permalink
Quote: teddys

Of course I would not be saying that if I had picked winners.



Same thing said in casinos everyday.
The Hall of Unverified Claims is a vast place with many shelves.

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