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Old 10-11-2008, 07:24 PM   #61
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IMF warns of financial meltdown

WASHINGTON/ COLOMBEY-LES-DEUX-EGLISES, France (Reuters) - The IMF warned on Saturday that the global financial system was on the brink of meltdown, while France and Germany pushed ahead with a pan-European crisis response to try to prevent the worst global downturn in decades.

At a joint news conference, French President Nicolas Sarkozy and German Chancellor Angela Merkel said they had "prepared a certain number of decisions" to present at a Sunday meeting of European leaders as they work feverishly to restore blocked credit markets to working order.

The United States appealed for patience, but the International Monetary Fund stressed that time was running short after leading industrialized nations failed to agree on concrete measures to end the crisis at a meeting on Friday.

"Intensifying solvency concerns about a number of the largest U.S.-based and European financial institutions have pushed the global financial system to the brink of systemic meltdown," IMF chief Dominique Strauss-Kahn said.
IMF warns of financial meltdown - Yahoo! News
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Old 10-11-2008, 07:40 PM   #62
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Buffett got a special deal with GE and Goldman - a 10% dividend on preferred shares callable at a 10% premium. The general public does not have access to those terms. His Berkshire Hathaway stock is down around 20% after the deals were announced. Goldman was in the 120s when his deal was announced - it is now in the 80s.
True - but just about every stock has collapsed since then. Compare Goldman to Morgan Stanley...

I am actually speaking about the opportunities post "Black Week" (Oct 6-10).

I agree that we won't get the same terms as a Warren Buffet throwing billions into a company, but I think that investing in battered "quality" stocks in the next few weeks/months is a good idea. The logic being is that the prices will probably not be this low for a very long time. If you wait for a recovery that is observable, you will miss out on some of the opportunity.

Obviously, there are no guarantees. I could lose every last cent that I've put into my IRA and 401k over the years. The good news - I have 30 years to try rebuild it. I think its worth a shot.
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Old 10-11-2008, 07:48 PM   #63
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Obviously, there are no guarantees. I could lose every last cent that I've put into my IRA and 401k over the years. The good news - I have 30 years to try rebuild it. I think its worth a shot.
True - everyone has a different time horizon and risk appetite. A lot of people who invested in 1997-1998 have seen flat returns on their stocks - the Dow and S&P first hit this week's levels in 1997 or so. These investors would have gotten much better returns by investing in Treasuries, and may have given up on the stock market.
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Old 10-11-2008, 07:54 PM   #64
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True - everyone has a different time horizon and risk appetite. A lot of people who invested in 1997-1998 have seen flat returns on their stocks - the Dow and S&P first hit this week's levels in 1997 or so. These investors would have gotten much better returns by investing in Treasuries, and may have given up on the stock market.
Indeed. The Irish stock market is right back to 1997, and (in my view) still hasn't bottomed out. That said, if you'd invested in, say, 1991, you'd still have got a decent return at current prices.
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Old 10-11-2008, 10:22 PM   #65
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I am the ultimate uber-bear, but I'm starting to think there may conceivably come a time, maybe in the not-too-distant future, when one may be persuaded to make some astute punts.
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Old 10-11-2008, 10:54 PM   #66
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So now that I have nothing for retirement, should I participate in the open enrollment at work or just wait?
I had to pull out my 401K after a long stint of unemployment late last year and earlier this year, then my son needed help after his company folded, and needed my help.
I'm starting over and needless to say, I'm not young. I don't want to jump in now and feel I should just start saving/investing everything I can. But to what/where?
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Old 10-12-2008, 12:42 AM   #67
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So now that I have nothing for retirement, should I participate in the open enrollment at work or just wait?
I had to pull out my 401K after a long stint of unemployment late last year and earlier this year, then my son needed help after his company folded, and needed my help.
I'm starting over and needless to say, I'm not young. I don't want to jump in now and feel I should just start saving/investing everything I can. But to what/where?

I would certainly match your 401k to your employer's contribution. It is "free" money - so to speak. Personally, I would max 401k contribution because it reduces your taxable income.

Right now, the safest bet is the Money Market Account (this should be an option to you). Once things seem a bit more settled - spread your selections evenly across five to six funds. These should all be rather cheap for the next few years and you can expect a decent return over the next 5 to 10 years (my theory).
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Old 10-12-2008, 12:52 AM   #68
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I have nothing to say about the global stock market class but I DID want to say "Hi" to AEON! Long time, man. . .glad to see you're still alive and kicking. I'd been wondering what had become of you.
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Old 10-12-2008, 08:42 PM   #69
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I have nothing to say about the global stock market class but I DID want to say "Hi" to AEON! Long time, man. . .glad to see you're still alive and kicking. I'd been wondering what had become of you.
Thanks. I'm still kicking.

I come in and read from time to time. I don't post as much these days. Probably because I'm leaning Obama. I'm still conservative, but at this point there really is no difference between the parties - they are both rotten and corrupt, both are responsible for this economic mess - so we might as well have someone that will give the US some international credibility (only because he's not too closely associated with Bush).
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Old 10-12-2008, 08:49 PM   #70
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You're expecting to continue to be stationed here at home for the foreseeable future then?
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Old 10-13-2008, 12:25 AM   #71
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You're expecting to continue to be stationed here at home for the foreseeable future then?
Hey Yolland!

Yes, I should be around for awhile. Thank You!
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Old 10-13-2008, 06:31 AM   #72
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The ATX (Austrian Trading Index) is up 10% on Monday morning. Same development for DAX (Germany)

Turnaround time?
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Old 10-13-2008, 09:47 AM   #73
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Or maybe a bear market rally.
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Old 10-13-2008, 10:25 AM   #74
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You never know. Would be time to invest if I had dollars to play.
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Old 10-13-2008, 01:48 PM   #75
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I'd be very surprised if today marked the end of the crash. Confidence is only slightly improved given the events of the weekend, but I don't think that confidence is made of steel. There are a slew of reasons why today is only an upward blip and that we're still in store for some continued losses. Any bad news in any way, shape, or form in the next several weeks is likely to bring big losses again.


However, I do wish I'd bought more of Apple instead of waiting to see how low it'd go.
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