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Forum
-> Household Management
-> Finances
Sanguine
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Mon, Aug 24 2015, 9:59 am
I'm sure I'm not the only person here with stocks - HELP!!! Is this it? Should I kiss all my money goodbye? I don't have all my money is stocks (I don't even have so much money), but it will really hurt if the stock market crashes. Does anyone understand this business? HELP!!!
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amother
Powderblue
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Mon, Aug 24 2015, 10:23 am
I was waiting to see if anyone was going to post about this.
I'm also terrified.
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amother
Periwinkle
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Mon, Aug 24 2015, 10:25 am
What's going on with the stock? I heard about China, will that effect the U.S.?
Based on the advice of Rabbi Lazer Brody, prob best to get out as soon as possible. Thankfully I don't have our money in stock but I'm even thinking of changing some from dollars to gold if possible for future security.
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HonesttoGod
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Mon, Aug 24 2015, 10:39 am
I don't know much about stocks or investments but I do know that my 401K is invested partly in China and Asia Here's a prayer that fidelity know what they are doing.
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leah233
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Mon, Aug 24 2015, 10:42 am
I'm not invested in the market (though I wish I was). I can't imagine this will be different form any other "correction" .Of course if I really knew what will happen I would buy lottery tickets
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amother
Aubergine
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Mon, Aug 24 2015, 10:52 am
I have about 70% of my retirement in the market. Since I am not retiring tomorrow, I just sit back and watch the show. My dh, on the other hand, is having a hard time.
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Fox
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Mon, Aug 24 2015, 10:56 am
Relax, ladies! We've been through this before, and we'll go through it again.
If you're invested in companies with solid business models and outlooks, the value isn't going anywhere. You may have lost money on paper, but there will be a rebound.
If you're invested in mutual funds, you may not do as well as you hoped this year, but you probably won't lose money, even on paper.
It's counter-intuitive, but the stock market reacts to uncertainty in the world more than to actual facts. In other words, the stock market can handle bad news better than not knowing.
We've had a bull market for almost six years, and everyone's become complacent. A lot of experts have been warning that there would be corrections ahead.
At least at this point, there's no evidence that most companies are actually worth less. So sit tight and wait for a recovery. DH and I sold a lot during the 1987 crash -- stupidist thing we ever did financially.
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Sanguine
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Mon, Aug 24 2015, 10:56 am
It improved (a tiny amount) - At least a few stocks are making a drop of money. Before EVERYTHING was losing. Seeing anything gain is a good sign, right?
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m in Israel
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Mon, Aug 24 2015, 11:08 am
Unless you need your money in the short term, or have made lots of speculative investments, there is no reason to panic. Markets go up and they go down, and over time they pretty much always go up.
And my husband is really annoyed right now because he wanted to invest in the TVIX in the middle of last week and I didn't let him. . .(he has great market sense but a tendency to take risks -- and since he doesn't really have time to follow the markets I don't generally agree to short term trading. We could have more than doubled our money in 4 days )
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Fox
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Mon, Aug 24 2015, 11:15 am
To give some perspective, the Dow plunged a total of 21 percent in 2008 in response to the subprime lending crisis, and it plunged 28 percent on Black Monday in 1987.
So far, this doesn't look as dramatic. It may, though, prompt the Fed to leave interest rates alone -- they were widely expected to raise the prime.
Just based on my reading, it looks more like the media is whipping everyone up with pictures of traders with their heads in their hands -- as if that's how the stock market works these days!
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Sanguine
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Mon, Aug 24 2015, 11:26 am
Thanks all of you who gave me reassurance that I shouldn't be jumping out my window yet .
Now how will we know that it's reached the bottom and we should run out and BUY, Buy, Buy while the price are low? - Actually, it won't really help me. I have all I'm willing to invest already invested. I have to sell one to buy a different one and nothing is worth selling anymore
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Iymnok
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Mon, Aug 24 2015, 11:27 am
Are you doing day trading? Long term bounces back. If you need to liquidate tomorrow, then you have a problem.
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m in Israel
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Mon, Aug 24 2015, 11:36 am
Iymnok wrote: | Are you doing day trading? Long term bounces back. If you need to liquidate tomorrow, then you have a problem. |
Actually, markets like these are great for day trading -- they are so volatile, and day trading is all about cashing in on volatility. The people who are in trouble are those with regular investments who need to cash out in the near future for some reason or another, or people (like hedge fund managers) who need to show constant gains all the time.
Of course none of this means that YOUR individual stocks will be fine. Companies get decimated all the time, and in every plunge there are some companies that end up going belly up. But if you are basically diversified and in strong companies you are probably fine.
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Sanguine
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Mon, Aug 24 2015, 11:38 am
Iymnok wrote: | Are you doing day trading? Long term bounces back. If you need to liquidate tomorrow, then you have a problem. | Nope. It can sit but if I have to wait a year to get back to where I was last week I'm not making any money this year
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Sanguine
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Mon, Aug 24 2015, 11:41 am
m in Israel wrote: | Actually, markets like these are great for day trading -- they are so volatile, and day trading is all about cashing in on volatility. The people who are in trouble are those with regular investments who need to cash out in the near future for some reason or another, or people (like hedge fund managers) who need to show constant gains all the time.
Of course none of this means that YOUR individual stocks will be fine. Companies get decimated all the time, and in every plunge there are some companies that end up going belly up. But if you are basically diversified and in strong companies you are probably fine. | Wow, you know a lot. Most my stocks are strong companies. I'm going to see if my stockbroker has any advice now.
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amother
Gold
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Mon, Aug 24 2015, 11:42 am
Last week lost $40,000.I dont know what happened today to my money yet. dh keeps reminding me that we invested for long term.
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Miri7
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Mon, Aug 24 2015, 11:47 am
I am not in finance but my friends who are say NOT to pull out your money. China is devaluing its currency which caused the drop. In the long term that should be a good thing - and prevent a bubble and crash.
On Shabbat I was talking with a good friend in finance and asked her if she'd had a crazy week. She said no, that she was not troubled by this at all. It could be bad if you were planning to liquidate this week to buy a house or something. But if you're invested for the long term not to worry.
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Sanguine
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Mon, Aug 24 2015, 11:52 am
amother wrote: | Last week lost $40,000.I dont know what happened today to my money yet. dh keeps reminding me that we invested for long term. | Lost $40,000 ? I don't have that much to lose but you're taking it very well
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Sanguine
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Mon, Aug 24 2015, 11:55 am
Apple is going up! Paypal is going up! (Those are some that I have). Things are picking up
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Sanguine
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Mon, Aug 24 2015, 12:26 pm
I'm making money $$$ !!! (not tons but I am making money) - The panic is over. How long will it take me to make back what I lost over the past few days??
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