So basically you are saying the air is being let out of the

Post #46,176 by orion 7/19/02 10:57:55 PM Reply	So basically you are saying the air is being let out of the balloon? The balloon being the stock market, and over the years it was slowing blowing up to more than it could handle? Then someone let the cork out of the balloon (or untied it, whatever) when the scandles hit, and people paniced? Now Corps are being hit for cheating on their annual statements, and the market tanks some more? The smart thing then should be to wait until the balloon starts to inflate again? *I am free now, to choose my own destiny.*
Post #46,224 by ben_tilly 7/20/02 2:43:15 PM Reply	You are getting somewhat closer However the balloon didn't slowly blow up to more than it could handle. It was damned quick about it, and the stories of fortunes made caused others to jump onto the bandwagon. Also the scandals aren't what caused the thing to deflate. There were scandals on the way up as well. What caused it to deflate is that enough people got burned that they ran out of suckers. Now people will repeatedly get burned until fantasies get replaced with a more realistic understanding. The scandals now just cause some more people to get burned, and others to get scared. This is good. This is healthy. When people stop asking why the markets don't walk on air, they have a chance to really recover. And finally, your final comment about waiting until the balloon starts to inflate again shows that you still don't get it. If your investment strategy is based on inflation and deflation in speculation, then you are speculating (aka gambling), not investing. It isn't about seeing the market inflate and deflate. It is about the fact that long-term the market tracks the overall country better than any other investment, and long-term that grows. Stop asking how you can make a quick buck, and you might just find yourself making a lot more of them in the end. (Albeit not quick ones.) Cheers, Ben "... I couldn't see how anyone could be educated by this self-propagating system in which people pass exams, teach others to pass exams, but nobody knows anything." --Richard Feynman
Post #46,230 by orion 7/20/02 3:35:37 PM Reply	I am not looking to make a quick buck I just want my investments to grow over the years so that I have enough to live on when I retire in 35 years. I don't want to invest my money, and then lose it all because the whole market has gone to hell. I think I'd be better right now stuffing my money into a matress, at least there I won't be losing any of it unless someone robs my house and steals the mattress or the money. *I am free now, to choose my own destiny.*
Post #46,239 by ben_tilly 7/20/02 7:26:58 PM Reply	There is an old saying... "A bull can make money. A bear can make money. But a hog never will." What that refers to is how fear about your money can lead to bad decisions. People with a decent understanding who are following basically reasonable strategies consistently make money. But people who get emotional about what they have made and lost always make bad decisions and lose. Both Another Scott and I have thought-out courses for long-term investing. I see both of us coming out OK. Neither of us is likely to freak out if we lose a ton of money. (Which it is guaranteed that we will both do.) Neither of us is going to freak out if we miss a killing (which will also happen). If you can get over the fact that it is your money and accept reality with similar equinamity, then it will all average out in the end. (Though the current market may take longer to average out than most. :-) However if you continue with, "Things can't get worse! Oh my God, I have to get out until things turn around! I just want something left in 35 years!" then things aren't likely to turn out so well. Cheers, Ben "... I couldn't see how anyone could be educated by this self-propagating system in which people pass exams, teach others to pass exams, but nobody knows anything." --Richard Feynman
Post #46,262 by orion 7/21/02 1:25:15 AM Reply	I can honestly say that I have no idea what to do. I am totally baffled here. All I ever seem to do is just lose money. I can't seem to get another job right now, not even a low paying one. Everything is stacked against me. *I am free now, to choose my own destiny.*
Post #46,277 by ben_tilly 7/21/02 10:26:03 AM Reply	And I can honestly say... I am not suprised. I have a pretty good idea what is wrong as well. But I don't know how to communicate that. Ben "... I couldn't see how anyone could be educated by this self-propagating system in which people pass exams, teach others to pass exams, but nobody knows anything." --Richard Feynman
Post #46,300 by orion 7/21/02 4:19:13 PM Reply	I can say that I am better off not investing money right now, the only real payoff would be me committing suicide and my wife collecting on the insurance money. Everything else appears to be one big scam and/or a black hole that just sucks in money. I have no idea what to do about my financial situation, it keeps getting worse. No job, investings all going bad, about to lose my house, etc. I just have the most rotten luck of anyone I know. Meanwhile some 18 year old kid starts a rumor on a Yahoo Message board and then dumps his stock in the company when the price goes up due to the rumor. They appear to be the only ones making money. *I am free now, to choose my own destiny.*

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