The ongoing financial turmoil and financial discussion thread - Page 13 - Calgarypuck Forums - The Unofficial Calgary Flames Fan Community

Wookie · 10-09-2008, 01:44 PM

And the TSX starts to tank again.

down 540 now

Nancy · 10-09-2008, 02:06 PM

Wow, another 7% haircut for the S&P500.

Claeren · 10-09-2008, 02:08 PM

At least we hit bottom earlier in the week though! I mean really, what is a thousand+ points with tons of further downward momentum between friends!? lol

Claeren.

Ronald Pagan · 10-09-2008, 02:16 PM

I've got my finger on the button to buy some Gazprom when I see an uptick.

Nancy · 10-09-2008, 02:20 PM

Are we at -40% now... is this on par with the crash of 29?

kevman · 10-09-2008, 02:50 PM

/\ I too would like to know where the last month stands in history...

On the plus side Gold spiked hard an hour ago... coupled with the dollar it's at an all time CDN high...

arsenal · 10-09-2008, 02:52 PM

I remember hearing something on CNN that what is happening now, is different than what happened in 29.
I can't remember off the top of my head exactly what was said.

Claeren · 10-09-2008, 02:52 PM

Quote:

Originally Posted by Nancy

Are we at -40% now... is this on par with the crash of 29?

The scary thing for foreign investors in the USA is that the market has lost another 40% (or whatever it works out to now) on the exchange rate in the past 3 years or so.

Brutal.

And it is not whether this is bottom or not that concerns me, it is how long it is before it ever recovers that has to concern people. There is no rule that it has to go up after it has gone down, it can very well just stay down for an extended period as a new financial/global order works itself out.

Claeren.

Nancy · 10-09-2008, 02:58 PM

According to Wikipedia, it looks like it crashed by about 40% over two months in 1929 then stabilized for a while, before it continued its ride down until bottoming out at -89% in 1932. It wasn't until 1954 that it recovered to 1929 levels. If you were 40 years old in 1929, your portfolio would not have recovered before retirement.

MelBridgeman · 10-09-2008, 03:11 PM

the execs at AIG are lovin it
http://www.reuters.com/article/ousiv...49886E20081009

Bunk · 10-09-2008, 03:15 PM

This is the best explanation I've heard of the financial crisis - from 60 minutes:

http://www.cbsnews.com/video/watch/?id=4502673n

Really scary.

Phanuthier · 10-09-2008, 03:18 PM

Wow so AIG had another luxery resort vacation THIS weekend, but just got cancelled at half moon bay.

http://www.bloomberg.com/apps/news?p...X0b4k&refer=us

Phanuthier · 10-09-2008, 03:20 PM

Also, high-tech heavyweight (but normally turbulent anyways) Micron cutting 2,850 jobs. I have some friends that work for Micron.

Thank you Vista

Cowboy89 · 10-09-2008, 04:31 PM

Quote:

Originally Posted by Claeren

The scary thing for foreign investors in the USA is that the market has lost another 40% (or whatever it works out to now) on the exchange rate in the past 3 years or so.

Brutal.

And it is not whether this is bottom or not that concerns me, it is how long it is before it ever recovers that has to concern people. There is no rule that it has to go up after it has gone down, it can very well just stay down for an extended period as a new financial/global order works itself out.

Claeren.

We're not going to be Japan. This isn't the forth horseman. Just as monetary policy theorists boasted that we'd achieved a new paradigm of prosperity and proper economic management in the 1990's, there are people thinking that this represents a tipping point to another paradigm shift of deflation. If you need money out of your investments short term (The next few years), take what you can get now. If you have money sitting on the sidelines that you won't need for that short term period, pile it in you won't be disappointed in their performance in 5 years, pending you carry a well-diversified portfolio.

This whole "end is nigh" talk just comes from a world that hasn't really seen or experienced a major recession in 20 years. The sun will rise and set tomorrow. Relax.

Displaced Flames fan · 10-09-2008, 04:35 PM

Man, I wish I could afford to sink 10% more of my income into my TSP fund right now.

HotHotHeat · 10-09-2008, 06:52 PM

Unbelievable.

Wookie · 10-09-2008, 07:00 PM

Quote:

Originally Posted by HotHotHeat

Unbelievable.

Ouch..

Now who's leading who? They reacting to today here, or are we going to reach to them tomorrow..

Wookie · 10-09-2008, 07:04 PM

CEO --Chief Embezzlement Officer.

CFO-- Corporate Fraud Officer.

BULL MARKET -- A random market movement causing an investor to mistake

himself for a financial genius.

BEAR MARKET -- A 6 to 18 month period when the kids get no allowance,

the wife gets no jewelry, and the husband gets no sex.

VALUE INVESTING -- The art of buying low and selling lower.

P/E RATIO -- The percentage of investors wetting their pants as the

market keeps crashing.

BROKER -- What my broker has made me.

STANDARD & POOR -- Your life in a nutshell.

STOCK ANALYST -- Idiot who just downgraded your stock.

STOCK SPLIT -- When your ex-wife and her lawyer split your assets

equally between themselves.

FINANCIAL PLANNER -- A guy whose phone has been disconnected.

MARKET CORRECTION -- The day after you buy stocks.

CASH FLOW-- The movement your money makes as it disappears down the toilet.

YAHOO -- What you yell after selling it to some poor sucker for $240 per share.

WINDOWS -- What you jump out of when you're the sucker who bought

Yahoo @ $240 per share.

INSTITUTIONAL INVESTOR -- Past year investor who's now locked up in a nuthouse.

PROFIT -- An archaic word no longer in use.

Bob · 10-09-2008, 07:14 PM

Quote:

Originally Posted by HotHotHeat

Unbelievable.

Oh my God.

Caged Great · 10-09-2008, 07:15 PM

Is this going to stop any time soon, or are we going to start going into the negative numbers?