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Subject: So... everyone getting ready for the crash of '11? rss

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Daniel Eig
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I just liquidated all the equity and bond holdings in my 401k, since it seems we're headed to the most idiotic market crash of all time. I'm also adding cash to my investment accounts to see if I can pickup some stocks on the cheap if (when?) the market crashes.

I can't believe I'm the only one worried about their stock and bond holdings being wiped out... yet the market seems to be holding steady - so I guess I'm an outlier.

When are people on this board planning on pulling out of the market? Wednesday? August 1st? Or are some of you planning on riding this out (or don't believe it will ever happen)?
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Welcome Rolling Stones
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I'm holding steady since I believe I will be dead within 5 years.

I also believe our leadership will steer us away from total catastrophe by executive order.

I could be wrong on both accounts.

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Matthew M
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dtolman wrote:

I can't believe I'm the only one worried about their stock and bond holdings being wiped out... yet the market seems to be holding steady - so I guess I'm an outlier.


Relevant analysis of the market's reaction to the debt ceiling negotiations:

http://fivethirtyeight.blogs.nytimes.com/2011/07/25/washingt...

Here's the summary at the end:

Quote:
The point is, however, that it does not necessarily tell us very much that markets have been “well-behaved” so far. We’re just now nearing the inflection point where we go from brinksmanship — a negotiating tactic — to the risk of an actual disaster.

What we should see, of course, is the pressure tending to mount on the markets with each remaining day, although the trajectory could be noisy within any 24-hour period because of contingencies related to the negotiations and to the broader economy.

If markets don’t start to react more strongly, the appropriate conclusion may be that Wall Street is as out of touch as Washington."



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MGK
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dtolman wrote:
I just liquidated all the equity and bond holdings in my 401k, since it seems we're headed to the most idiotic market crash of all time. I'm also adding cash to my investment accounts to see if I can pickup some stocks on the cheap if (when?) the market crashes.


...dude, if you're compiling funds in dollars and a crash does happen, you're going to get hard-fucked when the dollar crashes (which it will do). Best to convert into a currency that's currently trading high, like Swiss francs.

As for myself, I have no savings. I have lots of debt, though! I'm rather hoping the Canadian dollar drops a bit.
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Cool User
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I haven't pulled out of the stock market because I don't have much to pull/much to lose. Anyway, I'm not worried about stocks losing value. I'm pretty sure there will come a time in the next couple of decades where stocks, paper money, gold, and anything else that people use to give themselves a sense of security will become worthless.
 
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Trey Stone
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Holding steady. Just like when the last crash started and people freaked, there was a buying opportunity. People have been saying, "IT'S THE BIG ONE!!!" for a very long time.

Enough probably will say it this time to create another buying opportunity for the brave.

Steady as she goes.

If I had family, I might feel differently. But just being me, I'm ok with riding out the storm.
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Darren M
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Month over month change versus the USD:

Silver +18.7%
Palladium +11.0%
New Zealand Dollar +8.5%
Gold +7.5%
Platinum +6.3%
Canadian Dollar +4.7%
Australian Dollar +4.5%
Swiss Franc +4.1%
Japanese Yen +3.3%
British Pound +2.4%
Euro +1.8%

It usually pays financially to diversify investments into various currencies and across several asset categories... even more so for the peace of mind it allows.

You've got to believe the US government will not let this default occur and no doubt the majority of market participants believe that as well but if you look at the picture the currency and hard asset markets are painting there certainly seems to be a flight to other currencies/assets to hedge the risk that a default "might" happen.
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I keep a big position in EUR, delaying making it SEK for as long as possible, as markets always punish small currencies when something hits, as irrational as it may seem (every time bad news come from Greece, the euro gets more expensive for us, although it's them fknup).

And I've added a relatively large amount of cash to the investment account, to see if there are some bargains to be made devil And I'm looking already now, as people like you might pull out prematurely.

I'm not pulling out of anything myself though; that's too daytradish for my taste. I always suck at predicting anything, so I'll just hold on to what I have, and time will heal everything. You shouldn't buy stocks for money you need anyway. (Life is so fair - to make money, you first have to not need it.)
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fightcitymayor
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dtolman wrote:
I just liquidated all the equity and bond holdings in my 401k, since it seems we're headed to the most idiotic market crash of all time.
Sez who?
dtolman wrote:
I'm also adding cash to my investment accounts to see if I can pickup some stocks on the cheap if (when?) the market crashes.
Why would it crash now?
dtolman wrote:
I can't believe I'm the only one worried about their stock and bond holdings being wiped out... yet the market seems to be holding steady - so I guess I'm an outlier.
You are. All of the weekend nonsense & Monday arrived with a slight downturn. This morning things are scheduled to open up.
dtolman wrote:
When are people on this board planning on pulling out of the market? Wednesday? August 1st? Or are some of you planning on riding this out (or don't believe it will ever happen)?
Won't happen. I dumped more in last nite actually. Corporate profits are up across the board and companies are generally sitting on boatloads of cash. The last thing I'm worried about right now is a major U.S. stock market correction.


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Daniel Eig
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fightcitymayor wrote:
Won't happen. I dumped more in last nite actually. Corporate profits are up across the board and companies are generally sitting on boatloads of cash. The last thing I'm worried about right now is a major U.S. stock market correction.


So if the US defaults on a bond payments, and/or its credit rating is downgraded, you don't see the market plummeting?

 
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Jeff Brown
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I doubt there is going to be a crash in 11. I think there will eventually be one but not quite yet.

In any case I have a year supply of food for everyone in my family and have had it for many years. It's one of those weird things that mormons do, but something I am grateful for if for no other reasons than it helps to bring peace of mind.

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J
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jeff brown wrote:

In any case I have a year supply of food for everyone in my family and have had it for many years. It's one of those weird things that mormons do, but something I am grateful for if for no other reasons than it helps to bring peace of mind.


What's your address?
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Jeff Brown
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jarredscott78 wrote:
jeff brown wrote:

In any case I have a year supply of food for everyone in my family and have had it for many years. It's one of those weird things that mormons do, but something I am grateful for if for no other reasons than it helps to bring peace of mind.


What's your address?


I also have a several decades supply of boardgames so you are invited to boardgaming and food when it all goes down.
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Just placed a €500 bid on scrap metal processing and a €500 bid on solar panels. At very low stock prices of course; come in my trap short-sighted panic-sellers, come, come cool
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Mac Mcleod
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jarredscott78 wrote:
jeff brown wrote:

In any case I have a year supply of food for everyone in my family and have had it for many years. It's one of those weird things that mormons do, but something I am grateful for if for no other reasons than it helps to bring peace of mind.


What's your address?


I built up a 2 to 5 year supply of most of my critical medicines.
The issue will be keeping my house if we had a collapse and they still kept property tax rates high.
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I support your hoarding. I'd be awesome if all hoarders could have their hoarding done already, before any shits hit the fans, so that there will be stuff left in the shops for the sane people to buy once it hits.
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Pone McPoneface
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jeff brown wrote:
I doubt there is going to be a crash in 11. I think there will eventually be one but not quite yet.

In any case I have a year supply of food for everyone in my family and have had it for many years. It's one of those weird things that mormons do, but something I am grateful for if for no other reasons than it helps to bring peace of mind.



Very practical thing to do, for emergencies, a harsh winter, etc. But did you stock up on toilet paper? A years worth? Remember, when civilization collapses toilet paper will be the new currency worth having! Believe me I know, when I was in the army we were in the field for over two weeks cut off from any resupply (it was a part of training) and we ran out of toilet paper on day 2. We only had these tiny folds of harsh toilet paper in our MREs (meal ready to eat) which is in no way adequate for a grown man to use once, let alone 2 or 3 times in a day. It really turned into a "Lord of the Flies" scenario by day 4. You could literally own another human being if you produced a roll of Charmin, if you weren't torn apart first that is. Won't go into the sad and horrifying details, but I always have a multiple month supply on hand no matter what...lesson learned!

Also converting your currency into liquid assets like silver and gold is worth considering when the barter system becomes the way to shop.



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John O'Haver PhoDOGrapher
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I've recently sold almost half of my handguns to pay some medical bills and buy a new microwave and some guitars. I also tripled the amount of ammunition and fipled (5x) the number of cans of Dinty Moore Beef Stew I usually keep on hand. I'll pick up some more toilet paper on the way home from work. Thanks for that tip, Joe.
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fightcitymayor
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dtolman wrote:
So if the US defaults on a bond payments, and/or its credit rating is downgraded, you don't see the market plummeting?
The credit rating agencies have been in the room during these debt talks, so it's not like they wake up one day & panic. Same goes for Wall Street. Investors have already baked-in all of these debt concerns and the worst the DJIA could muster was a sub-1% drop. Not saying there isn't some up-and-down ahead, but nothing resembling the word "plummet." You nervous nellies could have gotten in at 10,000 if you just would have stopped listening to Fox News.

So sign up for my "5 ETFs That Can't Miss!" newsletter, and go buy some stocks!

Because honestly: who knows better than a guy with a lolcat avatar?

 
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Pone McPoneface
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Always happy to be of assistance when I can!

Also, consider investing in a Shotgun Reloader so you can manufacture new shotgun shells from your spent casings. MEC makes the best in my humble opinion. Not only is it fun, but you also have yourself a cottage industry in the new economy! Just be sure to stock up on primers, some bushings, and a good universal charge bar!

 
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Brian
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Sheesh, all this hoarding has me thinking I should be hoarding!

Maybe I'll just make a sign that says "Will Game 4 food". whistle
 
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jarredscott78 wrote:
jeff brown wrote:

In any case I have a year supply of food for everyone in my family and have had it for many years. It's one of those weird things that mormons do, but something I am grateful for if for no other reasons than it helps to bring peace of mind.


What's your address?
Don't do it, dude!

Mormon = No Beer
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Yes, much better to get my address with a year's supply of beer and liquor with the added benefit of cheese and peanut butter crackers for sustenance.
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William Boykin
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Toothpaste and multivitamins.

When the Zombie Apocalypse occurs, its going to be hard to get a balanced diet. One a Day can help.



Darilian
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I like the new direction of this thread.

I just did a quick inventory. Here's what I currently have on hand for the apocalypse:

-Approx. 10 gallons of booze (various)
-Approx. 120 beers, bottled
-Buttloads of laundry detergent (not sure why)
-150+ board games
-A closet full of clothes I will again fit into a few months into starvation
-A quantity of pocket knives, firearms, and ammo I'm not willing to disclose
-Hundreds of books I've been meaning to read but won't get around to until we no longer have electricity

How do I stack up?
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