The ongoing financial turmoil and financial discussion thread - Page 48 - Calgarypuck Forums - The Unofficial Calgary Flames Fan Community

Slava · 02-23-2009, 09:32 PM

Quote:

Originally Posted by Nancy

Ahem, "here is a graph of the day..."

Just giving you a hard time. I do love that site though, and actually sent it to another CPer last week. What can I say...I just like all of the pretty pictures!

macker · 02-23-2009, 09:32 PM

[quote=fotze;1678276]Hey, you are the team I am cheering for in this thread, but I think get the feeling more and more that I am an "oilers fan".

Could be worse :
http://www.time.com/time/specials/pa...878509,00.html

Quite the starting line up that is

macker · 03-02-2009, 09:49 AM

Monday March 2, 2009

Glenflame · 03-02-2009, 09:50 AM

Monday March 2, 2009

macker · 03-02-2009, 09:52 AM

Don't forget to get your RRSP contribution in

Glenflame · 03-02-2009, 09:54 AM

It looks like diving turnament

macker · 03-02-2009, 10:02 AM

http://www.berkshirehathaway.com/letters/2008ltr.pdf

Even one of the greatest investors of all time admits he made some stupid recent investments. Says the US is basically "all in" so where does that leave things if they fold....

Slava · 03-02-2009, 10:27 AM

Quote:

Originally Posted by Glenflame

Monday March 2, 2009

No big deal if you are one of the proponents of October always being the worst month on the stock markets though I guess?

I still think that things are going to be good sooner rather than later. Make your RRSP contributions, save the tax (which is a virtually guaranteed return) and enjoy the long-term benefits of buying low.

Slava · 03-02-2009, 10:42 AM

Quote:

Originally Posted by fotze

I gotta give you props, you sure like to look at the bright side.

Well when you go out and predict that the market will hit 7500-7700 and we currently sit around 7600, I suppose I have my reasons/bias!

macker · 03-02-2009, 10:45 AM

Quote:

Originally Posted by Slava

No big deal if you are one of the proponents of October always being the worst month on the stock markets though I guess?

I still think that things are going to be good sooner rather than later. Make your RRSP contributions, save the tax (which is a virtually guaranteed return) and enjoy the long-term benefits of buying low.

__________________________________________________ _______________

I bought some MFC for $14.50 on February 19th. Thought I was buying low....Today it is $11.55 so are you still going to give me $20 for it

Anyways, I agree with buying low but be careful out there and don't be soo sure we are at our lows in this market. The experts have become amateurs in this market (look no further then Buffett) and there is no rush to buy something today that you can get cheaper tomorrow. My MFC doesn't look too bad when held up to Buffetts Conoco purchase that he bought high at the top of the market...

Nancy · 03-02-2009, 10:47 AM

Funny thing is, the media is blaming today on AIG's record loss ($62b), but AIG is up 13% or so. Prolly because the US government just gave AIG another $30b.

Speaking of AIG, its losses have been doubling every quarter. God help us if this continues.

Nancy · 03-02-2009, 10:49 AM

Quote:

Originally Posted by fotze

Which prediction revision was that one under, I've lost count.

Hah... I was just about to Google that very picture. I also have the whistling melody to "Always Look on the Bright Side of Life" going through my head.

macker · 03-02-2009, 10:51 AM

Quote:

Originally Posted by Nancy

Funny thing is, the media is blaming today on AIG's record loss ($62b), but AIG is up 13% or so. Prolly because the US government just gave AIG another $30b.

Speaking of AIG, its losses have been doubling every quarter. God help us if this continues.

__________________________________________________ ______________

That's what happens when you let a "safe and secure" insurance company play around in the derivatives market. That and they were the ones supposedly insuring all the garbage wallstreet was writing. I am actually surprised that they don't need more money. I guess that may come next quarter though...

Regorium · 03-02-2009, 11:00 AM

Quote:

Originally Posted by Slava

No big deal if you are one of the proponents of October always being the worst month on the stock markets though I guess?

I still think that things are going to be good sooner rather than later. Make your RRSP contributions, save the tax (which is a virtually guaranteed return) and enjoy the long-term benefits of buying low.

Yeah, it's pretty awesome to stay this optimistic. I remember you and MoneyGuy telling people to buy buy buy since last February.

Next question - 8000 or 6000 next? I say 6000.

Claeren · 03-02-2009, 11:03 AM

Quote:

Originally Posted by Slava

Well when you go out and predict that the market will hit 7500-7700 and we currently sit around 7600, I suppose I have my reasons/bias!

Its funny how I am always wrong in whatever I say, then what I say happens, and then you say that is what you said would happen.

Wouldn't it just be easier to agree with me in the first place?

I think nationalization of the banks is starting to be more fully priced into the markets but the collapse of the industrial base (in GM and Chrysler already being effectivily insolvant and Ford right behind them) is not (Collapse of one of the two sectors is priced in, but I don't think the markets want to contemplate the collapse of both at the same time). When America's entire economic output is basically tied to an admittedly large service industry, a hit and miss tech industry and a decently large tourism industry where does that leave the DOW? Below 6800 that is for sure.

Currency is still where the big movements are going to take place IMO though. In 10 years it will be the massive revaluation in world currency(s) (or the lack thereof, with Japan style flatlining) that will be the big story in terms of who came out of it all with cash and who did not.

Claeren.

macker · 03-02-2009, 11:07 AM

Forget about your house of cards
And I'll do mine
Forget about your house of cards
And I'll do mine

Fall off the table,
Get swept under
Denial, denial

The infrastructure will collapse
Voltage spikes
Throw your keys in the bowl
Kiss your husband goodnight

Forget about your house of cards
And I'll do mine
Forget about your house of cards
And I'll do mine

Fall off the table,
And get swept under

Denial, denial
Denial, denial
Your ears should be burning
Denial, denial
Your ears should be burning
Denial, denial

-Not directed at anyone just a song that I can't get out of my head today for some reason...

Slava · 03-02-2009, 11:07 AM

Quote:

Originally Posted by Claeren

Its funny how I am always wrong in whatever I say, then what I say happens, and then you say that is what you said would happen.

Wouldn't it just be easier to agree with me in the first place?

Claeren.

I must have missed the post where you predicted 7500-7700? Mine was in another thread and while its foolish to try to predict its fun and entertaining.

The main premise doesn't change though. We are low in the market, no question. You will be happy to have bought now in 4-5 years.

Glenflame · 03-02-2009, 11:38 AM

Quote:

Originally Posted by Nancy

Funny thing is, the media is blaming today on AIG's record loss ($62b), but AIG is up 13% or so. Prolly because the US government just gave AIG another $30b.

Speaking of AIG, its losses have been doubling every quarter. God help us if this continues.

Not surprisingly, AIG might need another 30 billion or more after three months and same to Citi & BA. They financial companies don't want to scare you if actually they need a couple of trillions.

http://forum.calgarypuck.com/showthr...=62777&page=49

Glenflame · 03-02-2009, 11:44 AM

Quote:

Originally Posted by macker

__________________________________________________ ______________

That's what happens when you let a "safe and secure" insurance company play around in the derivatives market. That and they were the ones supposedly insuring all the garbage wallstreet was writing. I am actually surprised that they don't need more money. I guess that may come next quarter though...

This is a quartly payment!

HotHotHeat · 03-02-2009, 11:46 AM

Warning: Extremely depressing article ahead....

President Barack Obama showed a great deal of gumption in standing before Congress last night delivering his first speech to the joint assembly. All the trappings of power were on display as members of the House and Senate, the Supreme Court, the Joint Chiefs, the Cabinet, and the VIP guests hugged and waved at each other, radiant in their tailored attire only two nights after the Hollywood stars put on their own show on Oscar night.

http://globalresearch.ca/index.php?context=va&aid=12493

*Please resist the urge to cry foul based on the fact that this article is not from mainstream media. The author is well respected and very knowledgeable.