Few more weeks like today we might see some good buying opportunitys eh ?
May Peace Be With You
Yikes!!!! aint half of it. More like Faaaaaaaarrrrrrrrrr............!
My portfolio (long term blue chip) has been decimated and my super is dissappearing faster than a black hole. At this rate, If I live that long, I'll be still working in my nineties. This is not "the market" doing it's thing. There has to be dark forces out there manipulating. I firmly believe that short selling should be made a treasonable offence punishable by the ultimate sanction. Seizure and distribution of assets followed by severe death !
On the super thing; Not sure it's a good idea to switch plans on the way down. All you do is lock in the losses. I don't think that's a great plan. However, i am seriously considering a SMSF to put some spare cash into (assuming I don't need it to live for today). There is another thread on that idea.
Add salt to the wounds as the AUD does a "Led Zeppelin" against most major currencies. Aussie wealth and purchasing power is getting slammed.
Everyone must realise their destiny ....
May Peace Be With You
and perspective gets thrown out the door - AGAIN.
where is the xjo back to now ? - early 2006 ? late 2005 ? - so what ?
is it back to 199X - NO - 198X - NO.
calm down then. as mentioned, reallocate and reenter when you feel more comfortable.
Just say you started with $100k super, and the your super had fallen by 30% to $70k and you were expecting it to fall further. Surely it would be best to put the $70k into cash and have it earning positive interest and preserving the capital allowing you $70k+ to have available to place back in shares once the market turns around. Rather than letting it fall further and then only having maybe $50k or less exposed to the market when market turns around.
I agree, though, and it's what I've done but the downside of course is that you can miss the initial gains when there's a recovery, and it complicates the tax situation. Depends on the reason for the downturn, doesn't it? If it's a defined one-off event, e.g. the Sept 11th plunge, confidence will likely only be shaken briefly. But in the present mess, confidence has been severely shattered, partly because we don't know what bad news is still out there, and the fundamentals globally are looking more and more like recession.
I suppose we all pass or fail the "sleep test" in different ways. I'm not happy watching my capital diminish every day, but someone in their 20's will take a different view.
That's because the only ones that believe our economy, and housing market will remain unscathed in a global slowdown... usOriginally Posted by asxgorilla
Those of us who are actually conservative and responsible - and not riddled with debt and idiocy, are being punished for the acts of the moron-"battlers" buying over-priced assets they can't even afford ... sigh.
I say raise the rates, trash the RE market, flush-out all those with 0% deposit loans through defaults and bankruptcy, and start fresh
At least that way the AUD would have some blooming purchasing power here in Australia at least.
On another topic, what's the quickest, easiest way to hedge for currency fluctuations? Go down to the bank and buy Euros? We're always saying to diversify stock-portfolios, but how many of us diversify our currency-holdings?
Heck, at the current speed - we could be at .75c in a few days
Oh, and don't think that it's only currency-holders who get hurt by a lower AUD. Granted, the miners will be better off in the long run, but not if they fall another 30%. When you eventually sell, you'll have lost money locally - and purchasing power internationally, double trouble there Just annoyed at a lot of people praising the lower aud, is all.
The answers to our future are often found in the past.
Choices are the waves that roll against us.
Exactly the dilemma I am wrestling with at the moment Buddy. Where is the other thread on this idea?On the super thing; Not sure it's a good idea to switch plans on the way down. All you do is lock in the losses. I don't think that's a great plan. However, i am seriously considering a SMSF to put some spare cash into (assuming I don't need it to live for today). There is another thread on that idea.
That's what they said when the All Ords was at 5500.Few more weeks like today we might see some good buying opportunitys eh ?
I like short-sellers because without their pessimism there would be too much optimism, which means bigger bubbles and harder crashes.I firmly believe that short selling should be made a treasonable offence punishable by the ultimate sanction. Seizure and distribution of assets followed by severe death !
Isn't this the sunk cost fallacy?Not sure it's a good idea to switch plans on the way down. All you do is lock in the losses.
As a value investor you should be celebrating with this sort of bargain :-) and I am celebrating.
I picked up bargain last couple of weeks
AMP at $6.20
FBU at $5.00
FUN at 39 cents
more SUN today at $10 bucks
BXB escape me with with 3 cents margin damn it .. I put in at $7 drop to about $7.05 and $7.03 and never came back down ...
I'm still loaded with cash..as stock drop time to lock and load
"cash - a call option with no expiration date, an option on every asset class, with no strike price.” Warren Buffett