Anyone else bothered that the Dow fell 2% today and Gold fell 10%?

  • Posted by a hidden member.
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    Apr 16, 2013 2:12 AM GMT
    http://online.wsj.com/article/SB10001424127887324030704578424253443034768.html?mod=WSJ_Markets_LEFTTopStories
  • Posted by a hidden member.
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    Apr 16, 2013 2:21 AM GMT
    No, gold is stupid.

    If stocks become worthless than gold will become worthless. Only idiots flood to it when the stock market falls.

    Quite frankly, commodities falling is a sign of recovery.
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    Apr 16, 2013 2:32 AM GMT
    Unintended saidNo.


    Why/
  • Webster666

    Posts: 9217

    Apr 16, 2013 5:17 AM GMT
    I was bothered that I lost 2 1/2% of one of my mutual funds.
    But, I know that the stock market goes up and down, and sometimes has wild swings (up or down), and that, over time, it always goes up.
    So, I'm not going to panic.
  • roadbikeRob

    Posts: 14345

    Apr 16, 2013 6:43 PM GMT
    No. I don't give a shit. Let the very rich fall into crushing poverty for all I care.
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    Apr 16, 2013 6:50 PM GMT
    roadbikeRob saidNo. I don't give a shit. Let the very rich fall into crushing poverty for all I care.


    You do realize that declines in the stock market affect everyone's retirement plans, right? Not just the rich?

  • conservativej...

    Posts: 2465

    Apr 16, 2013 6:52 PM GMT
    It's a little late to be cycling out of gold. And the U.S. markets. AMEX, NYSE, etc. They are in America after all.

    Globalize thyself swimguy.
  • roadbikeRob

    Posts: 14345

    Apr 16, 2013 6:52 PM GMT
    showme said
    roadbikeRob saidNo. I don't give a shit. Let the very rich fall into crushing poverty for all I care.


    You do realize that declines in the stock market affect everyone's retirement plans, right? Not just the rich?

    Who in their right mind can afford to retire other than the very rich.
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    Apr 16, 2013 6:52 PM GMT
    showme said
    roadbikeRob saidNo. I don't give a shit. Let the very rich fall into crushing poverty for all I care.


    You do realize that declines in the stock market affect everyone's retirement plans, right? Not just the rich?



    No he doesnt. People are overall kind of stupid with these things.
  • Posted by a hidden member.
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    Apr 16, 2013 6:59 PM GMT
    roadbikeRob said
    showme said
    roadbikeRob saidNo. I don't give a shit. Let the very rich fall into crushing poverty for all I care.


    You do realize that declines in the stock market affect everyone's retirement plans, right? Not just the rich?

    Who in their right mind can afford to retire other than the very rich.


    Ya know, I don't think Ive never gotten into a tiff with you here before, but this is really really dumb. Not everyone has enough saved and invested to retire as and when they want to but huge numbers of americans have retirement money invested in the stock market, either directly or through pension plans. So say that you don't give a shit about this is just stupid.
  • roadbikeRob

    Posts: 14345

    Apr 16, 2013 7:05 PM GMT
    showme said
    roadbikeRob said
    showme said
    roadbikeRob saidNo. I don't give a shit. Let the very rich fall into crushing poverty for all I care.


    You do realize that declines in the stock market affect everyone's retirement plans, right? Not just the rich?

    Who in their right mind can afford to retire other than the very rich.


    Ya know, I don't think Ive never gotten into a tiff with you here before, but this is really really dumb. Not everyone has enough saved and invested to retire as and when they want to but huge numbers of americans have retirement money invested in the stock market, either directly or through pension plans. So say that you don't give a shit about this is just stupid.
    Well that is their problem. I didn't invest in the stock market because it is too uncertain. There is just too much to lose. As for the large number of Americans who dumped a large chunk of their hard earned money into the stock market, well they did that on their own volition. Nobody held a gun to their head saying they had to invest in the stock market. So why should I give a shit about the stock market. Let it collapse.
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    Apr 16, 2013 7:08 PM GMT
    Knew it was coming any day and then BAM.
  • Posted by a hidden member.
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    Apr 16, 2013 7:09 PM GMT
    roadbikeRob saidNo. I don't give a shit. Let the very rich fall into crushing poverty for all I care.


    It's the rich that are benefiting from this and the average Joe that's losing big-time.
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    Apr 16, 2013 7:24 PM GMT
    roadbikeRob said
    showme said
    roadbikeRob said
    showme said
    roadbikeRob saidNo. I don't give a shit. Let the very rich fall into crushing poverty for all I care.


    You do realize that declines in the stock market affect everyone's retirement plans, right? Not just the rich?

    Who in their right mind can afford to retire other than the very rich.


    Ya know, I don't think Ive never gotten into a tiff with you here before, but this is really really dumb. Not everyone has enough saved and invested to retire as and when they want to but huge numbers of americans have retirement money invested in the stock market, either directly or through pension plans. So say that you don't give a shit about this is just stupid.
    Well that is their problem. I didn't invest in the stock market because it is too uncertain. There is just too much to lose. As for the large number of Americans who dumped a large chunk of their hard earned money into the stock market, well they did that on their own volition. Nobody held a gun to their head saying they had to invest in the stock market. So why should I give a shit about the stock market. Let it collapse.


    Okey dokey, then. Even though many people are indirectly invested through their pension plans at work and had no choice in it? Sounds like you don't give a shit about the little guy, either.

  • Posted by a hidden member.
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    Apr 16, 2013 7:50 PM GMT
    Gold has had all the makings of an asset bubble for a while now. It's not going to surprise anyone.

    May all of us live long enough to retire!
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    Apr 16, 2013 10:24 PM GMT
    Reading through the thread, I have to admit to being somewhat appalled by the general level of ignorance. Virtually the only two comments that made sense were the ones on dollar cost averaging and indirect market participation via pension plans. As for the rest, get thee to a CFP.

    I have to admit I was trying to test the level of apathy because when I was a young financial adviser starting out, my VP told me that, "Gays don't invest 'cause they think they're gonna die young." Although I was livid at the time, I've seen more and more evidence that despite our putatively higher levels of disposable income, we DO fail to save and invest as much as we should. In fact, most of us think we're doing enough just by doing a 401 (k) at work. Thoughts?
  • Posted by a hidden member.
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    Apr 16, 2013 10:25 PM GMT
    BTW, the market was up 1 % today.
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    Apr 17, 2013 1:12 AM GMT
    swimguychicago saidReading through the thread, I have to admit to being somewhat appalled by the general level of ignorance. Virtually the only two comments that made sense were the ones on dollar cost averaging and indirect market participation via pension plans. As for the rest, get thee to a CFP.

    I have to admit I was trying to test the level of apathy because when I was a young financial adviser starting out, my VP told me that, "Gays don't invest 'cause they think they're gonna die young." Although I was livid at the time, I've seen more and more evidence that despite our putatively higher levels of disposable income, we DO fail to save and invest as much as we should. In fact, most of us think we're doing enough just by doing a 401 (k) at work. Thoughts?


    Get thee to a CFA.

    Has anyone ever asked themselves what makes gold valuable as an asset? Does it give dividends? Does it create and sell products? Does it have rent?

    No. It is valuable because it has always been valuable and people always pay money for it without regarding the fact that it is ultimately worthless.

    "zomg society will crash I need to buy gold"

    ::Society crashes::

    thank god I have all this gold to do....whatever it is...that gold...does...
  • Posted by a hidden member.
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    Apr 17, 2013 1:22 AM GMT
    This is a pretty funny read:

    http://www.ritholtz.com/blog/2013/04/the-10-rules-of-goldbuggery/
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    Apr 17, 2013 3:51 AM GMT
    Chainers said
    swimguychicago saidReading through the thread, I have to admit to being somewhat appalled by the general level of ignorance. Virtually the only two comments that made sense were the ones on dollar cost averaging and indirect market participation via pension plans. As for the rest, get thee to a CFP.

    I have to admit I was trying to test the level of apathy because when I was a young financial adviser starting out, my VP told me that, "Gays don't invest 'cause they think they're gonna die young." Although I was livid at the time, I've seen more and more evidence that despite our putatively higher levels of disposable income, we DO fail to save and invest as much as we should. In fact, most of us think we're doing enough just by doing a 401 (k) at work. Thoughts?


    Get thee to a CFA.
    .


    Uh, no. The CFA is a series of 3 exams over 3 years designed for people who want to manage mutual funds. To go to one for a general financial plan is (a) overkill, (b) not likely to lead to good results as they lack breadth of knowledge in terms of taxes, pension plans, and insurance, and (c) likely to result in higher fees than a CFP would charge.

    Still, I'm glad someone here is au fait with some aspects of finance.
  • Apparition

    Posts: 3521

    Apr 17, 2013 4:03 AM GMT
    actually, thanks. i forgot it was time to buy low sell high mad catz. like winning the lottery every 2 years. so cyclical. so dependable.

    i love when the stock market drops, I make so much money a couple years later.
    2008 was a feeding frenzy of raining gold. buy buy buy.
  • Webster666

    Posts: 9217

    Apr 17, 2013 5:56 AM GMT
    As I have seen in these situations, in the past, and as I predicted, yesterday, the stock market made big gains, today.
    I was happy to see that my mutual fund that dropped 2.5%, yesterday, had gained 1.5%, today.
    Upward and onward...
  • rnch

    Posts: 11524

    Apr 17, 2013 5:59 AM GMT
    Webster666 saidAs I have seen in these situations, in the past, and as I predicted, yesterday, the stock market made big gains, today.
    I was happy to see that my mutual fund that dropped 2.5%, yesterday, had gained 1.5%, today.
    Upward and onward...




    market goes up.......market goes down.......market goes up........
  • Webster666

    Posts: 9217

    Apr 17, 2013 6:00 AM GMT
    mocktwinkles saidKnew it was coming any day and then BAM.


    No, you didn't.

    And, you must have been extremely disappointed to see the stock market take a big jump, today.