[LuckyStrike]

That is the headline at the Drudge site today. First I think oh ****. But then I remind myself that I have another thirteen years before I reach full retirement age. How do you make money? Buy low and sell high. I'm not selling, I'm buying, for another thirteen years if I live that long. So....if the stock market is going to heck in a handbasket, that means I'm buying low. Great! So it's a good thing. Yeah, that's it. It's a good thing.

[BanditFlyer]

Originally Posted by LuckyStrike

That is the headline at the Drudge site today. First I think oh ****. But then I remind myself that I have another thirteen years before I reach full retirement age. How do you make money? Buy low and sell high. I'm not selling, I'm buying, for another thirteen years if I live that long. So....if the stock market is going to heck in a handbasket, that means I'm buying low. Great! So it's a good thing. Yeah, that's it. It's a good thing.

Countrywide just got bought by BofA and the market reacted negatively. I expect that it will be good for BofA's stock price later in the year. There's likely to be some real buying opportunities in the financial companies this year. I read somewhere that Merryl Lynch is a bargain.

[Mulderator]

Originally Posted by LuckyStrike

That is the headline at the Drudge site today. First I think oh ****. But then I remind myself that I have another thirteen years before I reach full retirement age. How do you make money? Buy low and sell high. I'm not selling, I'm buying, for another thirteen years if I live that long. So....if the stock market is going to heck in a handbasket, that means I'm buying low. Great! So it's a good thing. Yeah, that's it. It's a good thing.

I just bought a considerable amount of stock later this afternoon before the market closed. So--you can be sure it will go down again on Monday!

[LuckyStrike]

Originally Posted by Mulderator

I just bought a considerable amount of stock later this afternoon before the market closed. So--you can be sure it will go down again on Monday!

Aha! So you're the one!

[Knotbored]

I agree with buy low-sell high (or don't sell-just hold.)
I held some Boeing stock from mid-1960's till 2 years ago- it went from $500 to $35000 by way of stock splits and dividend reinvestment. Durring that period it once shrunk to $250 value.

[linskyjack]

What would you do if retirement was next year? You wouldn't retire!

[BanditFlyer]

Originally Posted by linskyjack

What would you do if retirement was next year? You wouldn't retire!

You'd put your 401k into Berkeshire Hathaway(Buffet has a reputation for finding bargains in markets like today's market) and Bank of America : http://money.cnn.com/2008/01/11/news...ey_mostpopular

And gold.

By the end of the year, you'd be up 50%(can't wait to see how this prediction turns out ).

[BanditFlyer]

Just don't let the Arabs and Chinese beat you to the punch: http://money.cnn.com/2008/01/11/news...ey_mostpopular

Make no mistake, this year is the best buying opportunity since October 2001.

[LuckyStrike]

Originally Posted by linskyjack

What would you do if retirement was next year? You wouldn't retire!

Yes I would. Because four or five years before my planned retirement I would have started looking for opportunities to move my savings out of higher risk investments and into stable investments with guaranteed returns.

[linskyjack]

Oh, so you would have moved out of the stock market five years before retiring and put your money in CD's, cash or bonds. Now for the sake of argument, when did you start investing for your retirement, and what was your portfolio's basic makeup through most of those years.

[LuckyStrike]

Originally Posted by BanditFlyer

You'd put your 401k into Berkeshire Hathaway(Buffet has a reputation for finding bargains in markets like today's market) and Bank of America : http://money.cnn.com/2008/01/11/news...ey_mostpopular

And gold.

By the end of the year, you'd be up 50%(can't wait to see how this prediction turns out ).

I wish I could. My employer chooses the investment house to manage our 401K's. They have changed investment houses four times in the last twelve years.

[Stoner]

Originally Posted by BanditFlyer

Just don't let the Arabs and Chinese beat you to the punch: http://money.cnn.com/2008/01/11/news...ey_mostpopular

Make no mistake, this year is the best buying opportunity since October 2001.

I think so myself. But there is going to be a portion that also represents inflation.
IMO....that makes 2 reasons to invest (wisely of course) in the stock market this year.

By the end of the year, you'd be up 50%(can't wait to see how this prediction turns out

Rather doubtful.
But greed does sell.

[BanditFlyer]

Originally Posted by LuckyStrike

I wish I could. My employer chooses the investment house to manage our 401K's. They have changed investment houses four times in the last twelve years.

Roll it over into an IRA. Then you can do whatever you want with it(I'm pretty sure you can even buy certain REITs).

[BanditFlyer]

Originally Posted by Stoner

I think so myself. But there is going to be a portion that also represents inflation.
IMO....that makes 2 reasons to invest (wisely of course) in the stock market this year.

I think the main places where inflation will take place will be energy prices, and I think the main reason for that inflation will be the continued weakness of the dollar. For that reason, I think it makes sense to buy stock in oil companies.

Originally Posted by Stoner

Rather doubtful.
But greed does sell.

There are always certain investments that do ridiculously well. If you'd have bought Martha Stewart's stock after she got convicted, you'd be up roughly 50% within a year I'm guessing(don't remember the exact numbers and I'm too lazy to look it up ). What's going on with the finance companies is very similar to the Martha Stewart buying opportunity.

[LuckyStrike]

Originally Posted by linskyjack

Oh, so you would have moved out of the stock market five years before retiring and put your money in CD's, cash or bonds. Now for the sake of argument, when did you start investing for your retirement, and what was your portfolio's basic makeup through most of those years.

Heh, with you everything is for the sake of argument, but OK I'll bite. I didn't start saving for retirement with a 401K until I went to work for my current employer at the age of forty two. Prior to that I was self employed and my investments consisted of our home and a little bit of farm ground. My wife and I both defer 12% of our income, her employer matches with 4% of her gross and my employer matches with 5% of my gross. We choose our investments from amongst a variety of investment options offered in our employer's plans. We're mostly invested in mutual growth funds with good potential for growth but high volatility.