MSM anchors---What a great time to buy stocks!

If anyone actually thought that the powers-that-be were done screwing
us seven ways to Sunday---think again.

It's hard to believe, but most of the talking heads on CNN, CNBC and other
the major networks are constantly repeating the same mantra.

"Don't panic! Don't sell! In fact, it's a great time to evaluate your
portfolio and buy at cheap prices!"

I hear this with each and every story about the stock market. They are
all doing the bidding of corporations and attempting to keep people in
the market and even encouraging people to buy!

I am no economist. However, it is obvious that the falling dollar and
the brunt of the recession haven't been fully realized. The bottom is
not here yet. Even a chump like me can figure that out! Furthermore,
it's not just about stocks tanking. With the falling dollar, will
that paper be worth anything in the near future???

I'm astounded that these bastards still aren't finished with us.

Without conscience, they encourage all of us to hang on to a ship
that they know will eventually sink.

Unbelievable.

to pay for it. :sarcasm:

and have a long time window thats not bad advice. Its really a simple formula, buy low, sell high. People panic and sell when stocks start to drop and that only guarantees their losses. I'm looking for a buying opportunity now and my self imposed time window is no more then ten years so I would roll with it for awhile and convert any stock profits to safe investments. Or I could lose my ass but over the past 20 years or so I am way ahead in the market.

If you're in for the long term, I can understand staying in and riding it out.

However, I cringed at the thought of people buying in right now. It seems
obvious that we haven't realized the bottom yet. Not even close.

I would love to capitalize on the times when we get to the 'fire sale' stage.
IMHO--it's going to get much worse and anyone who gets in now, will probably
lose a lot of money.

if the market continues to go down and you have that long time window just continue to buy. We made a killing in the 90's through mass quantity investing and incredible luck in timing.

and I'm afraid it will.

He said if you're still 10 of 15 years from retirement :scared: that you should ride it out, but if you'll be retiring "soon" (didn't say how soon soon was) and were planning on using your 401k as part of your retirement income, it might be a good idea to convert to cash.

That's some pretty ominous sounding shit.

.

Absurdly Overpriced Stocks and Bargains.....

That's right. Bargains.

You know, Absurdly Overpriced Stocks that are slightly less than even more Absurdly overpriced stocks.

they think the carnival ride will never end. The law of gravity eventually catches up. It's quickly spiraling out of control. You can tell by the panicked look in the eyes of all the people who are saying "don't panic".

stupid and greedy are interchangeable

Oh yeah. :(

Why people haven't figured out that everything that is reported in mainstream media is filtered through the opinions/beliefs of individuals making gargantuan sums of money is beyond me.

These people are so incredibly far from the average American.

If you don't buy, their own considerable portfolios will be hurt.

"I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful." - lecturing to a group of students at Columbia U

“A market downturn, doesn't bother us. For us and our long term investors, it is an opportunity to increase our ownership of great companies with great management at good prices. Only for short term investors and market timers is a correction not an opportunity."

"Your goal as an investor should simply be to purchase, at a rational price, a part interest in an easily-understandable business whose earnings are virtually certain to be materially higher five, ten and twenty years from now. Over time, you will find only a few companies that meet these standards - so when you see one that qualifies, you should buy a meaningful amount of stock. You must also resist the temptation to stray from your guidelines: If you aren't willing to own a stock for ten years, don't even think about owning it for ten minutes. Put together a portfolio of companies whose aggregate earnings march upward over the years, and so also will the portfolio's market value." -1996 Shareholders Letter

“View Mr. Market as having a disorder and being in a manic depressive state and take advantage of this state of disorder."

http://vinvesting.com/buffett/bquotes.html

And this is how the rich get rich, and stay rich. Buy on the cannons, sell on the trumpets. For every panicked seller out there, somebody IS buying. I wouldn't sell a thing right now, because all I would do is Lock In A Loss, which right now, exists only in the ether. There is no Loss, until one sells.

I wouldn't jump into the market willy-nilly in the midst of a panic, either; that way lies madness and ruin. But if there's a stock I'd been evaluating with solid fundamentals that's been trading high lately, maybe a little above my price range, but now with the panic selling has taken a big dip, this would be a good time to take a position.

I am not rich, I'm not even "well-off", but learning from the rich (particular smart, incredibly rich people like Buffett) is a worthwhile pursuit.

:puke:

This should be a reminder yet again exactly WHY the kinds of things that benefit rich people, or that rich people want implemented, never work for the middle class or poor, who are actually suffering; it is two different worlds. Rich people prosper during the same recessions and depressions that kill the middle class and poor, and for that very reason--they are the ones making a killing on it.

I remember the first time, as a kid, that I read somewhere that the Empire State Building and the Chrysler Building in New York City, were both built during the Great Depression, and I wondered how, since "everybody" was poor. I got the very first part of an education on how rich capitalists buy things up, when others are desperate and need money; how they undercut others; consolidate and monopolize industries; cut the pay and benefits, and increase the hours, of workers, who have no other choice for a job; and buy stocks. When times are desperate, it is a buyers' market, but only for those who have money, which is how they prey on the now-desperate.

The things that help the middle class and poor, on the other hand, "hurt" by limiting the power of, the rich. Rich people want "tax cuts" and crap like that, which obviously helps no one poor, (remember when the first Bush was "President," and proposed tax cuts--INCOME tax cuts!--for the recession of that time, and a reporter asked how that could possibly help, as they sometimes used to do, "But President Bush, these people are unemployed; they have no money..."). Poor and middle class people need the opposite: programs paid for BY tax money, and more of them, giving immediate relief by cash payments, and longer-term relief by jobs programs and new regulations curbing the abuses of corporations. It is the opposite.

Depression and recessions hurt and kill those who work, or are disabled, who have only a little money, and make the rich--with huge amounts of money just sitting around waiting to be invested and kept there, un-needed for expenses of daily life--prosper, by the SAME circumstances. Those who have much, win again by being predators; those who have little, suffer and lose even more, by being vulnerable and not controlling this system that is somebody else's. Evil.

It's amazing people hold any credibility in what the stock spielers on the financial channels say or think. Most are either on the "down-low" with the same people they promote and their networks make nice profits from advertising by their brokerage houses. Once upon a time I knew a "stock expert"...in fact, that was the show he was a regular guest on "Ask The Expert". What was his expertise? In bullshitting. He was paid an upfront fee from a company or broker to talk up a stock and then he'd pay the channel to appear on it to do his work. Anyone who listens to these goons deserve to loose their shirts.

As long as big banks write off billions of bad loans, as long as this regime squanders billions daily and as long as prices soar, this economy will head south. The bill collector is at the door...and we all will pay.

seriously. If you have the stomach and the nerves to watch your 401K plummet for awhile, in the end, the stock market will correct, prices will go up again and what your fund brought with lower prices will pay off for you. But if you can't stand it, then it's not a good time to buy in. Buy low, sell high is the ole' proverb.

But it's hard to find the good stuff in a cesspool that smells like Enron.

bullshit.

There was some good discounts in the Shanghai and Hong Kong markets this week.