Kinda puts the Capital GAINS tax debate off the table . . .

[dawgball]

Wondering why your so negative on mutual funds, Dawg. Many have no choice--you and I are self-employed; we have all kinds of choices in how we save for the future; if your a clock-puncher and all you have is a couple of crappy, high-fee mutual funds as choices--don't you still contribute so you don't have to pay taxes on that part of your income?

I am extremely down on mutual funds because they are, for the most part, a scam.

Here's a link to a story that expresses my thoughts in writing better than I can: http://www.fastcompany.com/magazine/128/made-to-stick-the-myth-of-mutual-funds.html

They are completely sold with a fear-based method. The first thing they tell you is that you are too dumb or don't have enough time to do this. Well, if you agree then you will be in that big boat people are talking about here. I feel that it is more important for me to spend a little bit of time learning about this than watching American Idol at night.

Second: "diversification is your only free lunch" BULLSHIT! How much has that diversification (that you paid someone a nice chunk for) protected the American public's assets in the last 6 months?

I wouldn't be so down on mutual funds if they weren't sold in the manner that they are.

"Hey, you don't have time for this. Just give us your money and we'll protect it for you. This mutual fund has out-performed dawgball's jerk-off rating for the last 3, 5, 10 year span. So you should buy this and pay me 5% up-front because A shares are going to save you money if you plan on keeping it in here for 5.23454233 years or more. Did I mention that I'm a lot smarter than you on financials just because I passed a test but don't really have ANY real world investing experience?"

Historical performance is not indicitive of future results.

 

[DOGS THAT BARK]

Yes, you are like most. But DTB assumes we all should be smart enough to guess peaks and valleys of the market. We should have all made a killing the last 7 years.:shrug:

Smurph

I am no better at guessing peaks and valleys than edward is at picking winners in sports.

People with 401Ks are a lot diff than those purchasing stocks individually--and same for mutual funds as Dawg states.

401Ks and mutual funds do not afford one the use of very important tool call stop loss.

They will let you ride the ups cycles - as they go up continuely adjust sell price (stop loss) it lets your profits run but limits your losses. Maybe more importantly it puts your game plan in effect without emotion coming on should I sell today.

I have some stocks listed on otb or pink sheets that you can not use stop losses on and have fared much poorer when I have to decide whether to place the sell order than have it done automatically.

I certainly sympathize with area yyz spoke of on those near retirment that had 50% wiped out in months with few years to recoup.

--but no broker should ever let a client that close to retirement be invested that heavy in stocks. That is ultimate no no . They should primarily be in safe securities--now the 50's age bracket is tough-as your trying to boost that retirement fund and more prone to risk/reward scenerio.

 

[BobbyBlueChip]

Dow Jones Industrial Avg.

01/22/01 - 10,659
10/06/08 - 9,956
1/20/09 - :shrug:

8,281

 

[DOGS THAT BARK]

unbelievable--what a glutton for punishment
Would have thought you'd let this thread slink off into sunset after seeing your errors intially

HmmmI see you made post pre market when MSNBC and liberal media was on their obama bounce hoopla.

Your lesson for today--
As an investor would you buy stock in company that just got new CEO with 0 experience or qualifications--

Investors buy on fundamentals--not hope-change yes we can -rhetoric.

OK Lets play your silly little game AGAINof piclking one or 2 time periods out of 8 years to a point--however I will use some of revelence

1-19-07 day before Dems take control of congress
Dow 12,467 ---today 7,949

11-4-08 day Obama elected pres
Dow 9,625--two days later dow 8,695

1-20-09 O now pres--dow drops 332 Nasdaq 88.47
now 7,949

I personally hope that O will live up to just half the rhetoric we've received and that your stance on dems taking over in 06 and the hope/change of his election was confinded to opinion and no monetary action.

Oh almost forgot--
:shrug: :shrug: :shrug: :shrug: :shrug: :shrug: :shrug:

 

[BobbyBlueChip]

Your lesson for today--
As an investor would you buy stock in company that just got new CEO with 0 experience or qualifications--

With this balance sheet, no - but you stopped investing in this country a long time ago even before the new CEO came in.

I realize that when 2000 started, that the last administration came in, they talked about running the country like a business as if that's a good thing. But it's a horrible metaphor because their motives should be different.

Continue with the "punishment" or whatever is you think you do in an argument

 

[UGA12]

I personally think blaming Bush or the Dem controlled congress alone is ridiculus. There are many factors going back to the 90's. What I dont understand is why people are amazed when the market drops. Do you really think that it is going to do nothing but go up forever. I mean there has to be corrections and to some degree even recession in order to clean out all the garbage before the rise begins again. Blame who you will, but it is a fact it will continue to happen throughout time, no?

 

[BobbyBlueChip]

I agree. Let me know when you see me blaming the market on the President or the Congress.

 

[BobbyBlueChip]

Somehow you forgot when market was @ 14,000.

Thank you, Barrack.

Hopefully, those who stayed with the courage of their convictions didn't lose too much.

God Bless America

 

[Skulnik]

Thank you, Barrack.

Hopefully, those who stayed with the courage of their convictions didn't lose too much.

God Bless America

Thank you Ben Bernanke

 

[THE KOD]

:00hour :0008 :00hour


GO OBAMA !

 

[yyz]

.....and I still have the same glorified savings account I had 5 years ago.

I look at the money tumbling in over the past several months and think, "This baby is really coming along!"

Then, I realize, "Oh, that's right.......I had this amount in here 6 years ago."

 

[ssd]

Skulnik wins the prize.

Market rallies have been because of Fed low rates...


Though I highly doubt many of you would enjoy the read, try
http://www.amazon.com/dp/1591845564

explains it all in very good detail.

If you want another indicator - look at the price on the Eur-Usd and overlay the chart on the SnP 500.

Correlation is amazing.

It might also surprise you that the most recent QE-Infinity program has mainly benefited foreign-owned banks operating on US soil......much like qe-2 did.

Fundamentals and economic indicators be damned....Ben wants to devalue the US dollar as the only possible way to start a self-sustaining recovery is through exports......consumer is not spending. Problem is, Euro-zone (Germany)and Pan-Asia (China- Japan) will only accept taking it up the ass on forex disparities for so long.

 

[BobbyBlueChip]

15,000!

You still shorting the market, Hedgie?

 

[BobbyBlueChip]

Remembering fondly how dogs said we'd all go broke and he was up for the challenge of keeping his money growing in these horribly socialist conditions

Hopefully, the courage of his convictions hasn't hurt him too much.

 

[BobbyBlueChip]

15,000!

You still shorting the market, Hedgie?

16,000

:toast:

 

[Duff Miver]

16,000

:toast:

Ain't Obama GREAT?

 

[BobbyBlueChip]

16,000

:toast:

17,000!!!!

 

[theGibber1]

17,000!!!!

This is great news! This really helps the poorest people in this country. At last they are finally getting a leg up.. Pet Smart went up 13% today. I hope all those people in the ghettos had a few shares lying around they can cash in
P Obama promised more equality and to bring up the poor and middle class.. No more rich white wall street fat cats getting even richer like under Bush.........oh wait...:shrug:

Haaha! Its not that im complaining or unhappy with the current system (even cashing in a bit myself) but the hypocrisy is laughable! If Romney had won the election the headlines would be all about Romney printing money for his already rich friends.. Meanwhile the number of people on food stamps are at record highs blah blah

But oh no.. The rich keep getting richer and the poorer keep getting poorer but nobody here cares about that as much as they did a few years ago????????????????????????

Black unemployment at 11% anyone care.....? Anyone? Hello is this thing on?

No? Oh not anymore.. Got it.

Happy Trading:0008

 

[BobbyBlueChip]

This is great news! This really helps the poorest people in this country. At last they are finally getting a leg up..

Have you ever heard of trickle down?

 

[Skulnik]

Have you ever heard of trickle down?

"500,000 full-time jobs were lost in June while 799,000 low-paying part-time jobs were created. That's the most since 1993. Those 800,000 low-paying part-time jobs, that's what you need to know."

"The news media and the Democrat Party got together again from basically 2004 on and did everything they could every day to drive Bush's approval numbers down, to drive up hatred of Bush, to diminish any achievement. When Bush had unemployment of 3.3% they called it a recession. Obama's unemployment rate's a phony 6.1% and we're in the biggest recovery you've ever seen."

From Rush Limbaugh.

:shrug: