500 or bust?
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I just read the article and it doesn't surprise me. What continues to blow me away is the "statements made" by the "spokespeople" do not have any emotion, emphathy, or do they hint that they had better do something fast.
No wonder WFC's logo or "brand" is the stage coach. Welcome to the 21st Century WFC!
The big buzz kill for me is having to deal with the POS VM software. Having to go in a half hour early just to boot my PC really ticks me off. I don't even give a S about the rest at this point. I'm going to brand my name on a cedar shingle and hang it on the top of my door.
jimmymac
no offense but would you please STFU?
who are u? MF Ghandi
this is a once in a generation buying opportunity.
people have NEVER needed guidance and advice then they do now.
Risk is as CHEAP as Ive ever seen it in my 26 years
time to go “all in” when the broken clock Prozac perma-bears start to make sense. stocks go up over time.
When in the last 26 years did the Govt take seniority over Common holders? Stocks go up over time? GE is same price as in the mid 90's, think you and I could find a 1000 others that have made nothing over the past 10 years. Going All in here would be asking for big trouble based on what has happened in the past 6 months.jimmymac
no offense but would you please STFU?
who are u? MF Ghandi
this is a once in a generation buying opportunity.
people have NEVER needed guidance and advice then they do now.
Risk is as CHEAP as Ive ever seen it in my 26 years
time to go “all in” when the broken clock Prozac perma-bears start to make sense. stocks go up over time.
[quote=CDO Squared]jimmymac no offense but would you please STFU? who are u? MF Ghandi this is a once in a generation buying opportunity. people have NEVER needed guidance and advice then they do now. Risk is as CHEAP as Ive ever seen it in my 26 years time to go “all in” when the broken clock Prozac perma-bears start to make sense. stocks go up over time.
When in the last 26 years did the Govt take seniority over Common holders? Stocks go up over time? GE is same price as in the mid 90’s, think you and I could find a 1000 others that have made nothing over the past 10 years. Going All in here would be asking for big trouble based on what has happened in the past 6 months.[/quote]
This is what you should have written:
I am going to go “all in” now beacause i am looking for BIG gains
based on
WHAT HAS HAPPENED IN THE LAST SIX MONTHS.
Because I have learned to never look out the back window,
like most investors.
I am also very bullish now because everyone ELSE is bearish.
I also know that since no one has made money in a decade, the odds favor that the next decade will be way over the norm. ala 1982 one of th e4 best buying opps EVER (after 13 crap years)
[quote=CDO Squared] [quote=fritz] [quote=CDO Squared]jimmymac no offense but would you please STFU? who are u? MF Ghandi this is a once in a generation buying opportunity. people have NEVER needed guidance and advice then they do now. Risk is as CHEAP as Ive ever seen it in my 26 years time to go “all in” when the broken clock Prozac perma-bears start to make sense. stocks go up over time. [/quote]
When in the last 26 years did the Govt take seniority over Common holders? Stocks go up over time? GE is same price as in the mid 90's, think you and I could find a 1000 others that have made nothing over the past 10 years. Going All in here would be asking for big trouble based on what has happened in the past 6 months.[/quote]
This is what you should have written:
I am going to go "all in" now beacause i am looking for BIG gains
based on
WHAT HAS HAPPENED IN THE LAST SIX MONTHS.
Because I have learned to never look out the back window,
like most investors.
I am also very bullish now because everyone ELSE is bearish.
I also know that since no one has made money in a decade, the odds favor that the next decade will be way over the norm. ala 1982 one of th e4 best buying opps EVER (after 13 crap years)
[/quote] Spot on. A decade from now, people will look at this time frame as the single greatest buying opportunity in their lifetime. Fortunes will be made coming out of this if you are smart.
jimmymac
no offense but would you please STFU?
who are u? MF Ghandi
this is a once in a generation buying opportunity.
people have NEVER needed guidance and advice then they do now.
Risk is as CHEAP as Ive ever seen it in my 26 years
time to go “all in” when the broken clock Prozac perma-bears start to make sense. stocks go up over time.
No I am not anyone special. Just a realist. keep telling yourself this is a great buying opportunity. You probably have a fresh copy of "stocks for the long run" on your desk. We are writing new history and in my humble opinion we have a 5 to 10 year period where things will be very difficult. this is the beginning, not the end. The market may rebound later this year but it will just be the calm before the real storm. Like fritz said the government is moving up the capital structure. Keep telling yourself its a great opportunity and average down for your clients cuz stocks are cheap. Thats laughable. Stocks are so expensive based on real earning this year and next.
Prechter is calling for market at 400 and Oil to 10.00 based on his cycle work. Thats the DOW not the S&P. Seems a little low, but based on all his valuation we are overvalued right now by at least double on many measures. Market could rally here and would be almost nothing, but think the way things are shaping up anyone who thinks the next 3000 points is up vs down is going to be in a world of hurt. I think when you throw the psychological damage in with the reality of the economy and the fact that baby boom generation begins retiring in 3-5 years we are only just getting started on the downside. Hope I am wrong believe me, but this buying opp of a lifetime stuff is a joke. We are about at the same level as the S&P 500 was in 2002, does anyone think the economy and financial industry is in the same shape as then?? Dont think there was one house underwater in 2002 in the U.S?
SPX earnings we about 37 bucks in 1993 ish peiod. spx was near where it is now. peak earnings were 80-90is 2007. wanna cut it in 1/2? 3/4? what?
pick a number THEN
wipe out ALL productivity gains in that decade (greatest increase ever)
wipe out all tech gains (greatest ever)
and then for the hell of it wipe out THE REAL STORY?..a monster growing massive global free market MF economy.
china
india brazil
eastern europe etc etc
free markets
the HORSE IS OUT OF THE BARN AND IT WILL NOT BE STOPPED
FREE MARKET CAPITIlism
stocks are SO cheap it is beyond words.
emerging markets are the simgle greatest buy in our lifetime
go buy ur t-notes girly man
that is the REAL bubble
ull be spitting up blood SOON at 2.6% on a 10 yr tbond
[quote=WSxAG]
Mark it down. While not at the bottom, we are in a bottoming process. Been at this for 25 years. The Crash of '87 was far scarier and the Post 9/11 complete unknown was far more worrisome. Economy still not at '73-74 or '81-82 levels. Believe what you care to believe and enjoy your no-yield precious metals and T-Bills. I personally would like to thank all those who sold great companies to me at bargain basement prices and have allowed me to build, on sell-offs, a marvelous high-dividend yielding equity portfolio that will fund my, above average, retirement 15-20 years from now. Its not a "Stock Market" its a Market of Stocks - go do your job and find those opportunities for your clients -its what they are paying us for. Now, about that retention . . . [/quote] I am open to change my mind as things play out, but i'll mark down your call, but give us your names which are bargains and the marvelous high yielders, because from what Ive seen this year we set a record for S&P stocks cutting dividends..92 have cut their dividend and expect that list to double or triple.Fritz,
Strong Balance Sheets, High Cash Balances, and strong product line(s) companies with solid brand identification, sold off indiscriminently during severe downdrafts. What I've done is to build a decent cash position while the markets were climbing to have capital during a downturn. I set price targets that I believe to be so ridiculous that if I could buy them at that price I would. They're out there. Was I up last year - nope, but I was only down about 12% overall.10/10/08 (11/20/08)
as John Templeton said
"NEVER, say…its different this time"
Your looking out the back window brother.
Stocks are so cheap.
Like most people, I have nothing new to add to the topic. I just want to see it at 100 pages.
[quote=jimmymac24]
Mark it down. While not at the bottom, we are in a bottoming process. Been at this for 25 years. The Crash of '87 was far scarier and the Post 9/11 complete unknown was far more worrisome. Economy still not at '73-74 or '81-82 levels. Believe what you care to believe and enjoy your no-yield precious metals and T-Bills. I personally would like to thank all those who sold great companies to me at bargain basement prices and have allowed me to build, on sell-offs, a marvelous high-dividend yielding equity portfolio that will fund my, above average, retirement 15-20 years from now. Its not a "Stock Market" its a Market of Stocks - go do your job and find those opportunities for your clients -its what they are paying us for. Now, about that retention . . . the crash of 87 was much scarier?? I would rather have that then bleed a slow death. thats what will make this much worse. The damage done today will take years to recover. The market recovered very quickly after 87 and 911. This has been and will be a much slower process because the damage is much more severe. I know everyone needs to use history to convince themselves things are gonna get better but reality is this is all new and very bad and the only period that compares to this is 1929. Stop kidding yourselves with all this buying opportunity bs. our economy is in dire straights and it will take at least as long as it took to create this mess to fix it. [/quote] Really? 1929? Does anyone forecast 24% unemployment? A 65% contraction in GDP? and apparently you missed that wonderful timeframe of 12/99 - 3/03 when the indices fell three straight years for the first time since the Crash of '29, the NASDAQ shedding 70% from peak to trough. This market has been down for just over a year, down severely, yes but we survived that and we'll survive this.For the people who have been waiting for that stage coach carrying the retention check. I am told 2-3 more weeks. What the heck would take them so long? They want to announce the official name change and retention at the same time. My guess is the stage coach is gonna be a little short on cash. It is beginning to look like smoke and mirrors. I guess the thought will be "well I know we did not pay a normal retention package but at least you now know what the name of your new company will be". As if that will be a consolation prize. I hope I am wrong. In the meantime I spoke with a C/MS manager today and was told they would announce their package this week. It only took them about 3 weeks and we are at 4 months and counting. I also spoke to him about what they would pay to move but he could not give me the exact figure for my level but over 200% for sure. I will meet with him next week to get the exact figure. My guess is somewhere around 250%.
[quote=WSxAG]Fritz,
Strong Balance Sheets, High Cash Balances, and strong product line(s) companies with solid brand identification, sold off indiscriminently during severe downdrafts. What I've done is to build a decent cash position while the markets were climbing to have capital during a downturn. I set price targets that I believe to be so ridiculous that if I could buy them at that price I would. They're out there. Was I up last year - nope, but I was only down about 12% overall.[/quote] 12% not to shabby.. I may have had a shot at even if it were not for the thrashing i took on the fixed income stuff that I moved into early 2008. Saw the bad coming (nowhere near what it turned out to be), but the preferreds and some other stuff hurt . Then there is the money with outside managers like Brandes and the likes which were a bloodbath.