'Black' Friday

**William** · 10-10-2008, 03:24 PM

Originally Posted by slimboyfat

And is it a good idea to buy lots of shares now in decent companies and hang on for the long term?

If you can wait 3-5 years, I would say "yes"

**William** · 10-10-2008, 03:26 PM

Originally Posted by Travelmate

should buy more....stocks are cheap...at the mo...

The only issue I have with this is that things here in Aus got so bad today a rumour went around that the Aus Govt had started to buy stocks. Not too sure right now if that is true, but if it is it would give an inflated price on certain shares.

**William** · 10-10-2008, 03:27 PM

ha - I see the SET has just halted trading - chickens

bkkandrew · 10-10-2008, 03:29 PM

Originally Posted by good2bhappy

some analists/wankalists are talking about the dow dropping to 7500

In March I said 6000 if that counts...

**good2bhappy** · 10-10-2008, 03:32 PM

^doom merchant
I hope your wrong, but I am seing a great dividend yield at the moment!

**kingwilly** · 10-10-2008, 03:34 PM

depends on the Shares you buy.

Imagine the clever dicks that bought $50,000 of Lehamn bank 2 days before it collapsed......

then you'd have nothing.

Actually William on todays figures I really did work for nothing in thailand for 5 years.....

**William** · 10-10-2008, 03:34 PM

^^do US companies pay dividends? I ask only because historically then never used. I'm going out on a limb here, but have Microsoft ever paid a dividend?

**William** · 10-10-2008, 03:38 PM

Originally Posted by kingwilly

Actually William on todays figures I really did work for nothing in thailand for 5 years.....

Feel for you mate. I lost $20k within half an hour of opening today. I turned to my work mate and said: "at least now I know what it feels like to play poker".

**good2bhappy** · 10-10-2008, 03:40 PM

you've only lost it if you sell it!
FTSE at 4000!
Freefall in Europe!

**Rattanaburi** · 10-10-2008, 03:41 PM

As for that 7500 Dow well I gues nothing is impossible. It does seem a bit extreme but most people were caught by it going below 11,000 then 10,000 then 9,000. I guess that ban on shorting is to end soon whatever effect that will have I don't know. I just don't think a lot of people have money to buy summer homes in Spain and to put into stocks at the moment. And the shock of this and the lack of trust inthe markets will last for quite some time for the average investor.

When people are happy they drink alcohol and they drink it when they are sad. Alcohol might be a good stock to invest in and while you are worrying if you have invested in the right stock you can invest in alcohol to relieve your stress. It's win win win.

**good2bhappy** · 10-10-2008, 03:45 PM

well the only compensation would be a falling baht

**William** · 10-10-2008, 03:46 PM

^

Aus Dollar was at about 97c on the US a few months ago. Now I think it's at 70c

Lucky b'stards like KW are laughing all the way to the bank

**pickel** · 10-10-2008, 03:47 PM

Originally Posted by Rattanaburi

Alcohol might be a good stock to invest in and while you are worrying if you have invested in the right stock you can invest in alcohol to relieve your stress. It's win win win.

Actually, in some cases you would have been better off investing in beer instead of stocks and returning the empties for a refund.

**Travelmate** · 10-10-2008, 03:49 PM

hmmm going straight to the pub after work........

**kingwilly** · 10-10-2008, 03:49 PM

Originally Posted by good2bhappy

you've only lost it if you sell it!

Margin loan.

nuff said.

**Marmite the Dog** · 10-10-2008, 03:56 PM

Seeing as I am already broke, the markets can do what the hell they like and it won't make any difference to me.

**Travelmate** · 10-10-2008, 03:59 PM

"Selling is unstoppable in New York and Tokyo,"
In Australia, where the S&P/ASX200 plummeted a record 8.3 percent, market watchers were calling it "Black Friday."

Shit.

**Butterfly** · 10-10-2008, 04:03 PM

today is the 911 of financial markets, it's cahos,

about fucking time

if we do reach 6000 for the DOW, then it's bargain time

**Butterfly** · 10-10-2008, 04:06 PM

Originally Posted by Travelmate

should buy more....stocks are cheap...at the mo...

Yeah, but it could get cheaper

Originally Posted by William

The only reassuring thing about this is that with my stock portfolio down about 60%, there's no point selling - might as well lose the lot

It's panic time, when this starts, there is no end to it, it's a herd effect, unstoppable, you can only hope that you will NOT be taken with the crowd

Originally Posted by kingwilly

Margin loan.

You are super fucked !!!

**MeMock** · 10-10-2008, 04:10 PM

Originally Posted by William

Originally Posted by kingwilly

Actually William on todays figures I really did work for nothing in thailand for 5 years.....

Feel for you mate. I lost $20k within half an hour of opening today. I turned to my work mate and said: "at least now I know what it feels like to play poker".

I'm with you William, also with Macquarie, lost a little more then you in the same amount of time. Done 40% overall.

It's funny as I thought I would be really depressed but it is almost exciting in some strange way. I saw my Dad tonight and at the same time we asked each other 'how much did you lose today' before bursting out laughing.

I'm getting ready to start buying. Have a look at BBI and CQT, however if you want to play it safe start buying shortly some more large diversified miners, Woodside, Woolworths, Telstra Corp. and Westpac.

**Looper** · 10-10-2008, 04:12 PM

Originally Posted by Butterfly

it's bargain time

I thought just that after watching the ASX self-flagellate for weeks only to fall another few percent on Tuesday. I piled in some more cash. The market has since nose-dived 18%. I sometimes feel there is a mystical anti-midas connection between my forays into the share market and the over health of the global economy.

Watching the ticker counter is like watching a car accident on you-tube. You don't want to look but you can't help it. Doesn't feel real but I am sure a redundancy notice will fix that

Good excuse to fuck off to Thailand if nothing else. I heard there was a few bucks to be made teaching English?

**Butterfly** · 10-10-2008, 04:12 PM

Originally Posted by William

I'm going out on a limb here, but have Microsoft ever paid a dividend?

they do, last one was 0.11 for 2008Q3, TTM was 0.43

Originally Posted by William

I see the SET has just halted trading - chickens

Wouldn't be surprised if governments start suspending trading in all country for a week, just to calm things down,

I think their massive pre-empt intervention is now backfiring, creating panic instead of stopping it,

if we have a bank run, then we are fucked, even if the fundamentals are ok

**Travelmate** · 10-10-2008, 04:13 PM

Originally Posted by MeMock

It's funny as I thought I would be really depressed but it is almost exciting in some strange way.

Freak

**good2bhappy** · 10-10-2008, 04:15 PM

FTSE hit 3900 on opening before starting to come back to 4100

**kingwilly** · 10-10-2008, 04:19 PM

Originally Posted by Butterfly

Quote: Originally Posted by kingwilly Margin loan. You are super fucked !!!

I know.

I've been bleeding badly since december.

I had set it up as a means to negatively gear my australian holdings (for xwife) and leverage my rather meagre funds (I am a teacher afterall) to a greater buying power.

Worked well for a few years, lsat six months has totally fucked all that.

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