I’m getting depressed. This is so ugly…
I know…it seems like there is no cure. I thought after bailout scene will change but it seems like it might end below 10k today… What and who can stop this blood bath? Can Chuck Norris do this?
Well just think of the buying opportunities once we hit 5,000? 
JoeyDVivre Wrote: ------------------------------------------------------- > I’m getting depressed. This is so ugly… yep, it’s hard not to get depressed in this environment. Luckily I am <30 and maybe it’ll be tough times for next 3 years, but I’ll rebound. I feel sorry for the individuals that were close to retirement but now have been let go, and saw there options go to zero. I’ve heard several individuals out there losing 80%+ net worth that was tied up in their company’s stocks, Bear Stearns & Lehman Brothers, Wachovia. Reminds me of Enron folks.
Cash is the king in this market…
I feel a knot in my throat… We should all get down on our knees and pray and then light a candle.
didn’t take brasil long before it was halted -10%
Anybody remember if we got halted on the first trading day after 9/11??
Wow, this post, coming from you Joey, is seriously a tough blow for me. I kid you not, I was driving back from my hometown last night, anxious as all hell about our economy/markets, and I was seriously thinking about starting a thread on here asking for some words of reassurance from you. Just looking for any glimmer of optimism. Though I don’t always agree with you, I have a tremendous amount of respect for you. You are something of a financial father figure to me and I’m sure many others on here, and I was hoping you might have some little nugget of knowledge that might give me reason to cheer up about this whole mess. Now, hearing you say this, well… it just sucks. This situation looks grim. I can’t stop reading about it, thinking about it, it is absorbing all of my attention. I was a barrel of sunshine just a few weeks ago, but my opinion has changed dramatically. As a youngster of only 22 years, I never thought I would even have to remotely consider some of the possibilities that seem all too likely at this point, nor did I ever expect to be so deeply impacted on a personal level by such a global/macro issue. It is truly depressing.
Aspiring Analyst Wrote: ------------------------------------------------------- > Wow, this post, coming from you Joey, is seriously > a tough blow for me. I kid you not, I was driving > back from my hometown last night, anxious as all > hell about our economy/markets, and I was > seriously thinking about starting a thread on here > asking for some words of reassurance from you. > Just looking for any glimmer of optimism. Though I > don’t always agree with you, I have a tremendous > amount of respect for you. You are something of a > financial father figure to me and I’m sure many > others on here, and I was hoping you might have > some little nugget of knowledge that might give me > reason to cheer up about this whole mess. > > Now, hearing you say this, well… it just sucks. > This situation looks grim. I can’t stop reading > about it, thinking about it, it is absorbing all > of my attention. I was a barrel of sunshine just a > few weeks ago, but my opinion has changed > dramatically. As a youngster of only 22 years, I > never thought I would even have to remotely > consider some of the possibilities that seem all > too likely at this point, nor did I ever expect to > be so deeply impacted on a personal level by such > a global/macro issue. It is truly depressing. You once told me, don’t get emotional about stock. Don’t! The bid is 16 1/2 and going down. As your broker, I advise you to take it.
Its definitely pretty bad out there. Then again, we’ve had it so good for so long that sometime like this was bound to happen. Willy
Aspiring Analyst Wrote: ------------------------------------------------------- > Wow, this post, coming from you Joey, is seriously > a tough blow for me. I kid you not, I was driving > back from my hometown last night, anxious as all > hell about our economy/markets, and I was > seriously thinking about starting a thread on here > asking for some words of reassurance from you. > Just looking for any glimmer of optimism. Though I > don’t always agree with you, I have a tremendous > amount of respect for you. You are something of a > financial father figure to me and I’m sure many > others on here, and I was hoping you might have > some little nugget of knowledge that might give me > reason to cheer up about this whole mess. > > Now, hearing you say this, well… it just sucks. > This situation looks grim. I can’t stop reading > about it, thinking about it, it is absorbing all > of my attention. I was a barrel of sunshine just a > few weeks ago, but my opinion has changed > dramatically. As a youngster of only 22 years, I > never thought I would even have to remotely > consider some of the possibilities that seem all > too likely at this point, nor did I ever expect to > be so deeply impacted on a personal level by such > a global/macro issue. It is truly depressing. Wait a minute…maybe it just looks depressing to me because I spilled coffee on my lap this morning or my wife decided to sleep in this morning leaving me lonely or I’m out of cat food or I’ve got to call my lawyer this morning or whatever. A 22-yr old should be full of optimism because this just doesn’t matter. The great moments in life are ahead of you. You get to stand on the altar and watch down the aisle as the most beautiful woman in the world who is also your best friend walks toward you. You get to be there when your first child breathes his first breath. You get to watch him/her play a solo in a band concert or hit a homerun in Little League or win the spelling bee. Global markets look terrible, but life is good and, in times like this, you need to take inventory of those other things and just learn to count your wealth differently.
JoeyD = Light of hope.
JoeyDVivre Wrote: > > Wait a minute…maybe it just looks depressing to > me because I spilled coffee on my lap this morning > or my wife decided to sleep in this morning > leaving me lonely or I’m out of cat food or I’ve > got to call my lawyer this morning or whatever. > > A 22-yr old should be full of optimism because > this just doesn’t matter. The great moments in > life are ahead of you. You get to stand on the > altar and watch down the aisle as the most > beautiful woman in the world who is also your best > friend walks toward you. You get to be there when > your first child breathes his first breath. You > get to watch him/her play a solo in a band concert > or hit a homerun in Little League or win the > spelling bee. Global markets look terrible, but > life is good and, in times like this, you need to > take inventory of those other things and just > learn to count your wealth differently. Haha, thanks for the inspirational pep talk, Joey. Something tells me it was a bit forced, as you were probably Alt-Tab’ing as you wrote that to watch the market descend into sub-10,000 territory. It’s strange. I know that I personally, as well as the vast majority of us on this board, will be alright despite even some of the most catastrophic of scenarios. We are mostly smart investors, possessing undergrad and higher diplomas, various certifications, intellectually competent, etc. And as you mentioned, my youth is an asset. I already live in relatively modest standards, I am not preoccupied with material things, and I am ready, willing, and able to make some sacrifices, expect some setbacks, and adapt. Still, I just feel anxious for the country as a whole. This genuinely seems like a perfect storm. A nation that allowed itself to become dependent on credit is now facing the possibility of a complete implosion of the credit markets. I just feel like we can no longer take it as a given that the US will be an economic powerhouse even when times are rough. I still would like to think that we can work our way out of this in a couple years after weathering an inevitable recession, but I just have this gnawing feeling that a massive Black Swan type of event is now a distinct possibility, whereas I never could have imagined that being the case even just a few months ago.
JoeyDVivre Wrote: ------------------------------------------------------- > A 22-yr old should be full of optimism because > this just doesn’t matter. The great moments in > life are ahead of you. OK, I’m 28, but I’m starting to feel better. > You get to stand on the > altar and watch down the aisle as the most > beautiful woman in the world who is also your best > friend walks toward you. Now I’m depressed again. And the aisles are the side bits of a church. > You get to be there when > your first child breathes his first breath. Getting better again. > You > get to watch him/her play a solo in a band concert > or hit a homerun in Little League or win the > spelling bee. …And depressed again. > Global markets look terrible, but > life is good and, in times like this, you need to > take inventory of those other things and just > learn to count your wealth differently. I have lots of beer!
I hate to be mean, but if you had 80% of your net worth tied-up in the company you work for you are a moron.
trek7000 Wrote: ------------------------------------------------------- > I hate to be mean, but if you had 80% of your net > worth tied-up in the company you work for you are > a moron. unless you couldnt help it…
farney Wrote: ------------------------------------------------------- > trek7000 Wrote: > -------------------------------------------------- > ----- > > I hate to be mean, but if you had 80% of your > net > > worth tied-up in the company you work for you > are > > a moron. > > > unless you couldnt help it… EXACTLY. Many had options that had not vested but waiting to vest. Some people knew IB were in trouble and WANTED to get laid off back in Feb, just so they would automatically vest and then they would sell all their holdings.
… and depressed again You get tired of your wife. You get a divorce. You get half your net worth taken away.
JoeyD has one of the best posts here! So cheerful!