People At My Job Liquidating 401k...It Must Be Time To Buy

I work corporate finance and with respect to investing, financial markets, and securities analysis my co-workers all have a pretty unsophisticated understanding of the basics. I hate listening to them talk about their investments. Some of there stupid comments/strategies make me cringe, especially when they come from the accountants who think a CPA makes them some kind of financial authority. Anyhow, a lot of these folks are buzzing about the Dow being down 300…blah blah blah blah, and bitching about their 401ks saying their going to liquidate. Based on my experience when the little guy is selling out, a good rule of thumb is the market is likely oversold, or will be soon. If I had money, I’d be snapping up good companies whose shares, which were previously overpriced, are now looking like bargains bargains.

I moved my 401K out of equities to avoid this approaching storm in January 2008 . . . maybe this fall / winter is a good time to switch back to US stocks / financials again -

they sell, we buy. they panic, we celebrate. they shop @ gap, we do brooks brothers and munch on calamari at odeon with gorgeous women. screw em : ) - without mian st, wall street wouldnt be so profitable

projectplatnyc Wrote: ------------------------------------------------------- > I moved my 401K out of equities to avoid this > approaching storm in January 2008 . . . maybe this > fall / winter is a good time to switch back to US > stocks / financials again - Same, 100% cash since Jan

There are a lot of great companies out there that were bystanders during this meltdown. They’re going to do extremely well when we get through this current bear market. I would never liquidate my 401(k) unless I desperately needed the money.

I believe they were using liquidate in the context of moving out of securities into cash, not liquidating the 401k completely. Isn’t there a triple tax for early withdraw. I hope their not that stupid. Eating that would be asinine.

Time to buy Blackstone!!!

daj224 Wrote: ------------------------------------------------------- > they sell, we buy. they panic, we celebrate. they > shop @ gap, we do brooks brothers and munch on > calamari at odeon with gorgeous women. screw em : > ) - without mian st, wall street wouldnt be so > profitable daj - thats very insightful, and mature. perfect for the occasion as thousands lose their jobs, homes. we need more people like you on this planet. its insensitive, superficial, self-absorbed morons like you that give this industry a bad name. there’s little difference between you and a drug dealer, or gang lord when you have a life perspective like this.

The S&P is coming dangerously close to those July lows.

daj224 Wrote: ------------------------------------------------------- > they sell, we buy. they panic, we celebrate. they > shop @ gap, we do brooks brothers and munch on > calamari at odeon with gorgeous women. screw em : > ) - without mian st, wall street wouldnt be so > profitable daj no offense bro but your recent idiotic pseudo-elitist posts make me cringe “ur comment wont knock the rolex off my wrist”

daj, I am not offended by any of your posts. I really am not. I just mostly amused but I was seriously wondering where you get your material from? This is a serious question. I honestly dont dislike you.

rohufish Wrote: ------------------------------------------------------- > > > daj - thats very insightful, and mature. perfect > for the occasion as thousands lose their jobs, > homes. we need more people like you on this > planet. > > its insensitive, superficial, self-absorbed morons > like you that give this industry a bad name. > there’s little difference between you and a drug > dealer, or gang lord when you have a life > perspective like this. you idiot, i was being sarcastic. lighten up big dog. im losing money today, too. lots of it on AIG.

daj224 Wrote: ------------------------------------------------------- > > > you idiot, i was being sarcastic. lighten up big > dog. im losing money today, too. lots of it on > AIG. impresssive

MFE Wrote: > impresssive 7 is the double top resistance here, cant break it in the last few hours. so not that impressive. at least BKE hit new high…

Being from Canada and having no access to Buckle clothing or stores, it amazes me. How does a retailer continue to hold up so well in light of global recession starting 2009 (except China)? All Canadian retailers and 99% of US retailers are getting and have been hit large but this thing keeps making new highs… I’ve gotta see a pair of these jeans…

daj, all you can think of is money money money, in all situations and contexts. we’re all very money minded, but you just have your head screwed on with a couple fewer/more 360deg turns, i guess. good luck to you as you grow up.

Daj does have almost 150 posts since Friday night…

I’m an idiot. I fell into the whole put your money away and let it grow unfettered. Dumb. I should have moved to cash.

Moved 100% to cash in December 2007 (after breaking even). Sold all of my gold after being up 30 or 45% (can’t remember), and sold crude at like $95 or $90 (idiot!). Went totally cash. Now I’m 90% cash and about 10% high-yield debt. I used to berate my parents for being nearly 100% US Treasuries and municipals. Now they’re laughing all the way to the bank.

lol. good for your parents. i’d start dipping in now, however, and keep buying over next 12-18 months. i also have been all cash since sep/oct last year. just didn’t feel like i had the time to understand the situation with L3, job, family. now, with L3 done, am spending time on it.