So...... anybody else lose any money? by 6ixStringJack

REAL WORLD EVENT DISCUSSIONS

So...... anybody else lose any money?

POSTED BY: 6IXSTRINGJACK
UPDATED: Monday, November 3, 2008 06:07
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Monday, November 3, 2008 5:32 AM

Heh... Wall Street Kid I thought I was...

I won't get into actual numbers, but after I saw my net worth raise about 18% from my market play after about 2 years of stacking, I've had the pleasure of watching those gains disappear and I'm now about 20% in the red.... not entirely as bad as the DOW as a whole, but ouch, right?

Important thing is, I'm not hurting and I didn't put all of my eggs in one basket by any means. Diversifying means a whole lot more in a downturn than just diversifying your stock portfolio. Some will learn in time, and others will struggle to catch up. Hopefully nothing in our lives ever puts us all to that test. I still say the sky isn't falling.

That's probably weird to hear from someone who said it would when it wasn't, right?

I'm just a lot more comfortable now than I was 2 years ago. My advice to everyone who is, forget about keeping up with the SQ. Nothing wrong with driving a 28 year old car (like I am) and stacking that cash. Every little bit helps, and even being able to live with an extra paycheck as a coushin after 6 months or a year or two or 3 of paying down that debt is a boon when you're used to running out of cash before the next check comes.

You want real, you've found it here. You all knew how strung out I was when I was in debt up to my eyeballs.

Hope you're all doing well,
~6

"A government is a body of people, usually notably ungoverned." http://www.myspace.com/6ixstringjack

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Monday, November 3, 2008 5:46 AM

SIGNYM

I believe in solving problems, not sharing them.

I did. Have an annuity in the S&P, some position in agricultural commodities, and some money in a hedge fund with Lehman. Since I can afford to hang on the only problem is the the Lehman fund which is being decided in bankruptcy court, so I count that as my only real loss. Not much on stocks, tho, so most of my money is elsewhere (real estate purchase at the last bottom of the cycle, Treasuries, munibonds, insured deposits, some gold etc.)

---------------------------------
Let's party like its 1929.

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Monday, November 3, 2008 5:53 AM

6IXSTRINGJACK

Sorry to hear about any forced losses you're facing Signy. That really hurts and is some fear that all of us over exposed in any area is feeling right now. I hope those losses are minimal to you in the big picture.

I do really respect your ability to hold firm and not do any panic selling. I'm down anywhere from 5 to 50 percent on some of my stocks right now but I refuse to sell anything. GE is my biggest loser right now, but I believe in the company's ability to weather the downturn in the long run. Nobody has locked in any losses until they sell. I may be riding it down to a very deep bottom in the long run, but I figure I'd be losing a lot more by cashing out now instead of looking at the long term.

Hard to do when we live in a world where usually only the next quarter matters, and more recently it seems, every single day matters.

I still watch the portfolio everyday like an obsessed maniac, but I haven't moved a single position since this started.

Like you, I have my eggs in several baskets.

Win some, lose some, right?

"A government is a body of people, usually notably ungoverned." http://www.myspace.com/6ixstringjack

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Monday, November 3, 2008 6:07 AM

FREMDFIRMA

Well, it's sucking as far as income, and the taxman is to blame, as usual...

But my investments are not bouncy and untrustworthy paper, and being what they are, haven't tanked, far from it.

Me, I play vegas rules - and for anyone unfamiliar with what I mean by that, it's an old trick used in casinos at the blackjack table.

Every fifteen minutes, take half your winnings and stick them in your pocket, and never, EVER under any circumstances remove them - works best if you have a zipper on it too, cause if the casino workers see you doing it they'll sic the shills and B-girls on you, who'll yank it right out and toss it on the table as you're losing, or steal it from you (which gets them a cut, of course) while feeling you up to distract you.

And even then, getting OUT of there with the roll is still tricky since the pitboss will give the nod to the appropriately anonymous and unconnected thugs (who also get a cut if they succeed, of course) to try and roll you on the way to your car, or do a bump-n-mug on you as you drive home.

Yes, I've beaten casinos in my much much younger, wilder and stupider days, and am especially not welcome in Atlantic city for sending two of those goons to the ER - Funny how that act of self-defense got me suddenly blacklisted from the Casino I just left, yes ? and over a mere $135.00 USD won at dollar blackjack by a mere kid barely out of their teens.. what a bunch of greedy dicks.
http://casinogambling.about.com/library/weekly/aa120202.htm
They've even thrown an old lady out the door for winning a single jackpot at Nickel slots, believe it or not.

They're theives, and what's worse is they reneged on the 50 Million they were supposed to put back into the cities education and housing budget, and no one ever bothered to try and make them, but I digress....

Basically, vegas rules means securing your winnings HARD, and then defending them with rabid vigilence until they are properly secured.

And never allowing panic, trickery or inattention to provoke you into throwing them away, neither.

As it is, I don't really consider the stash mine, even, that pile, all that I have, will go to ensure the survival and prosperity of my niece, along with all my records, notes, operating manuals and... other stuff.

A legacy she has earned, and not only the choice to take her life in that direction if she wishes, but also the *means* to do it - or, she could take the blue pill and go to college on it, or both, or somewhere in between, but ultimately, up to her.

All the options I never got.

Which is kind of funny, cause other than the rare few who could possibly tell, if she does take that path she gets all the aliases and contacts as well, and can play the "highlander" option if she really wants to.

Oh the hilarity of knowing when I do finally cap it, no one will buy it even when it's true, the most perfect revenge to have them looking over their shoulders... FOREVER!

(insert typical maniacal laughter here)

-Frem

It cannot be said enough, those who do not learn from history, are doomed to endlessly repeat it

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