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SHELLY

SoWal Insider
Jun 13, 2005
5,775
802
I'm enjoying life. My thing is, I like explanations as to 'why' things happened and projections on the depth of the current situation, but what I most want is a good solid explanation on what I can do to take advantage of this current situation- take positive action.

...Torch and Pitchfork Futures.

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Capricious

Beach Fanatic
Jul 11, 2005
423
42
It's amazing that we never seem to learn. I remember when people were joyfully piling their life savings into Double Click, Infospace, Pets.com, and any other hairbrained dotcom that was hatched. After that crash, it seems that we would have understood where manias lead.

Not too many years later, I remember people who were quitting their jobs to become real estate investors, not paying attention to the fact that we had more $million condos and homes than millionaires who wanted them. I bought a lot, and sold it a year to the day later and it nearly trippled. Unfortunately, I used the proceeds to by a lot that is pretty close to worthless, but it was "the house's" money that I was playing with. So, I ended up back where I started, which I guess is better than many.

I have learned that when these inevitable busts occur, I have to economize even more, which is hard considering that I don't spend much, try to squeeze out more money to invest rather than giving up, and remind myself that money, although important cannot be the source of happiness. It sometimes goes away.

Seriously, good luck to all of you in weathering this. I don't find any joy in watching others suffer, with the exception of thieving politicians and executives who go to jail, however rarely it occurs.







You forgot the day traders.



A good portion (not all) of those who are "suffering" now
lived pretty high for a while, so it all balances out in the end.

Actually, if one can live high on borrowed money and then "walk"
away from one's debts, as many are inclined to do citing
"victimization" by "unscrupulous lenders," then have they
really suffered?

Or are those of us that never over-leveraged really the ones
that suffer, because it is us who pick-up the pieces:

http://finance.yahoo.com/expert/article/moneyhappy/113568

But it is a given that we (collective) never learn from history and
therefore keep repeating the same mistakes over and over.



Capricious

"Repeat as necessary"
(shampoo bottle)




"repeat as necessary"
(shampoo bottle)
 
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traderx

Beach Fanatic
Mar 25, 2008
2,133
467
You forgot the day traders.



A good portion (not all) of those who are "suffering" now
lived pretty high for a while, so it all balances out in the end.

Actually, if one can live high on borrowed money and then "walk"
away from one's debts, as many are inclined to do citing
"victimization" by "unscrupulous lenders," then have they
really suffered?

Or are those of us that never over-leveraged really the ones
that suffer, because it is us who pick-up the pieces:

http://finance.yahoo.com/expert/article/moneyhappy/113568

But it is a given that we (collective) never learn from history and
therefore keep repeating the same mistakes over and over.

What did daytraders do?
 

scooterbug44

SoWal Expert
May 8, 2007
16,736
3,327
Sowal
It is rather satisfying to see those who were "living large" while I did without and planned for the future get their comeuppance.

Too bad they have to drag the economy down with them!
 

30ashopper

SoWal Insider
Apr 30, 2008
6,853
3,468
55
Right here!
comedy relief -

08-10-08c_tom_tolles.jpg
 

ClintClint

Beach Fanatic
Jul 2, 2008
599
78
Equity Eradication, Evisceration, Ejection, Emasculation, Extraction, Emaciation, Eviction
The Bull has been castrated!
Now, the good news. The very fact that I posted this should be a great contraindicator. Today, today should be the bottom at 11:30 A.M.
 
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