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#101 2008-11-18 07:03:17
#102 2008-11-18 18:48:34
#103 2008-11-18 18:56:43
- Marc Grayson
- Member
- Posts: 8860
Re: How Low will it Go? (Dow touched down to 7882 so far)
Dow 6,000, baby, on or around 1/20, when Obama is in office.
"‘The sense of being perfectly well dressed gives a feeling of inner tranquility which even religion is powerless to bestow." Ralph Waldo Emerson
"Looking good and dressing well is a necessity. Having a purpose in life is not." Oscar Wilde
#104 2008-11-18 19:02:37
#105 2008-11-18 19:20:48
#106 2008-11-18 19:37:23
#107 2008-11-18 21:46:22
- tom22
- Member
- Posts: 295
Re: How Low will it Go? (Dow touched down to 7882 so far)
Mark's predictions may well be right. I wouldn't bet against them. Unlike Mark I attribute the decline to the Greenspan Bubble years. But I think GWB is a good act to follow. Eight years from now we will be a lot better off. I think we are close to hitting 1933. Soon the direction will be up.
PS: I own Ford and will buy more. Does anyone really know these companies? Did anyone hear Mr. Mullaly say today that if the bailout money is offered Ford won't take the money? Wall Street really doesn't understand the midwest. Who would have thought that the Great Gatsby could be an economic tract?
#108 2008-11-18 23:12:01
- iammatt
- Member
- Posts: 520
Re: How Low will it Go? (Dow touched down to 7882 so far)
Last edited by iammatt (2008-11-18 23:18:20)
#109 2008-11-19 06:52:37
#110 2008-11-19 07:51:42
- Tony Ventresca
- Member
- Posts: 5132
Re: How Low will it Go? (Dow touched down to 7882 so far)
Lots of iGents here, coming out of the woodwork. Frankly I'm starting to find some of you guys creepy. WTF? Have the investment bankers, corporate lawyers, doctors, pharmacutical executives, and self-sovereigns infected this place too? I thought those greedy shitheads were only found on BBR, with their wannabe interns on Stylishforum? I'm getting embarrassed to be associated with this place.
No matter how you spin it, the stock market is still a place for people with money to separate greedy suckers from their money. It's a playground for the rich & powerful, like American politics. It does not serve the people, the ones who are forced at gunpoint to pay for everything, both the successes and the failures of the "smart money". It's just a big hustle, buoyed by a weird mix of greed and fear.
But needn't worry about a revolution: the "patriotic" brainwashing has been thorough. You and your 50+ bespoke custom suits will be fine.
Tom22 may be wrong on the analysis, but where did all the "smart money" lead us over the last 3 months?
"I saw it coming, but no one would listen to me." Whatever. Hindsight is always 20/20 and there is no reason to believe the current analysis is any more accurate.
#111 2008-11-19 09:14:23
- Marc Grayson
- Member
- Posts: 8860
Re: How Low will it Go? (Dow touched down to 7882 so far)
http://www.portfolio.com/views/blogs/daily-brief/2008/10/17/hedge-fund-manager-goodbye-and-f-you?utm_source=iwtytbr&utm_medium=email&utm_campaign=11132008
"‘The sense of being perfectly well dressed gives a feeling of inner tranquility which even religion is powerless to bestow." Ralph Waldo Emerson
"Looking good and dressing well is a necessity. Having a purpose in life is not." Oscar Wilde
#112 2008-11-19 10:18:15
#113 2008-11-19 11:27:02
- Voltaire's Love Child
- Member
- Posts: 120
Re: How Low will it Go? (Dow touched down to 7882 so far)
I'm still hoping for 2500 or even lower. Wait until worker producitivity numbers take a nice dip - which they will when no one buys the hype any longer. And if the U.S. auto industry fails (which it already has, for all practical purposes), the ripple effect, even today, will reach small tsunami level. Shit, even Toyota's down's 23-25%. The Thirties Depression followed only about a decade of spectacular stupidity: the current mess has three decades behind it. Even the saner goldbugs are shaking in their Earth shoes. There is no bottom to this mess. Remember, the U.S.S.R imploded when it did not because of structural problems, which could've continued for decades; but because the average Soviet citizen not longer believed anything the Politburo and Pravada said. That's what the neo-cons never understood, with their bare-faced lies, one after another (I guess Strauss didn't take the "noble lie" to it's logical conclusion, the fucking idiot): a nation cannot survive, or it certainly can't thrive, collective cynicism. That's something that the historians and theorists always leave out of their "collapse of empire" analyses.
"Hellhound on my trail, hellhound on my trail . . . . "
#114 2008-11-19 11:58:39
#115 2008-11-19 18:13:37
- iammatt
- Member
- Posts: 520
Re: How Low will it Go? (Dow touched down to 7882 so far)
Last edited by iammatt (2008-11-19 18:21:57)
#116 2008-11-19 19:17:25
#117 2008-11-20 15:11:25
- Skink
- Member
- Posts: 143
Re: How Low will it Go? (Dow touched down to 7882 so far)
Think like a man of action, and act like a man of thought.
#118 2008-11-20 16:44:37
#119 2008-11-20 16:50:32
- Film Noir Buff
- Dandy Nightmare
- From: Devil's Island
- Posts: 9345
Re: How Low will it Go? (Dow touched down to 7882 so far)
It's like someone used half of your money without your permission and lost all of it and then when you give them the other half to pay off the debt and at least leave you are even, they decide not to settle the debt but to gamble again with the other half.
#120 2008-11-20 17:41:43
- Marc Grayson
- Member
- Posts: 8860
Re: How Low will it Go? (Dow touched down to 7882 so far)
I never thought I'd ever see the day when Citigroup would be a penny stock, but, it is.
"‘The sense of being perfectly well dressed gives a feeling of inner tranquility which even religion is powerless to bestow." Ralph Waldo Emerson
"Looking good and dressing well is a necessity. Having a purpose in life is not." Oscar Wilde
#121 2008-11-21 07:55:31
#122 2008-11-21 07:56:37
#123 2008-11-21 11:30:15
#124 2008-11-21 19:20:13
- tom22
- Member
- Posts: 295
Re: How Low will it Go? (Dow touched down to 7882 so far)
Citi has been the target of the shorts since the summer. I don't claim to be able to read financial statements but I have come to the conclusion that they are written in a way that sophisticated investors have a hard time reading them as well. What is Citi worth? GE: 13 bucks? can this possibly be right?
#125 2008-11-27 16:10:35
- Marc Grayson
- Member
- Posts: 8860
Re: How Low will it Go? (Dow touched down to 7882 so far)
Just don't take investment advice from Jim Cramer...
http://www.youtube.com/watch?v=SGkrNJ19DSU&feature=related
"‘The sense of being perfectly well dressed gives a feeling of inner tranquility which even religion is powerless to bestow." Ralph Waldo Emerson
"Looking good and dressing well is a necessity. Having a purpose in life is not." Oscar Wilde