are you feeling the pinch

[MarkJ]

Originally Posted by Rez

Mark,
You are the only person I know of who is still putting money in the Stock market. Smart money was out there a while ago.

LOL Quite an assumption to think I am doing what my PS suggests and not my main body of post

All the best


Mark

[Pelagic]

As a lifelong sailor, I have always been ignorant when it came to investing in stocks and ultra-conservative about accumulating impulse luxuries or ever getting into debt. (I felt doing those would somehow compromise my freedom)

Ironically a philanthropic gesture to family gave back a tremendous windfall and until lately I thought that major banks were safe to store the cash to see me through my low-key retirement.

However Rez and a few other comments about the vulnerability of even the major banks makes me wonder….If you don’t keep it with the bank, how do you keep that money safe?

[philip van praag]

Originally Posted by senormechanico

Rangiroo,

You said,
"I really could care less if I'm saying "Welcome to Walmart" when I'm 75...as long as I have spent the previous 20 years floating around the planet...."

and you nailed it exactly. I'm 62 and only working part time with not much money, but I fondly think back on my cruising years every single day.

Steve B.

rangiroo & steve
at 45 thats how i see myself at 70, telling sailing stories to everyone weather they want to hear them or not.
"i remember when i was of the coast of ........"
and fully intend to shuffel of my mortal coil with an overdraft, and a note to my bank maneger saying. i though i would return the service you have privided over the years!

pelagic
if you stuff your matriss with 1mill you will bang your head on the cabin roof.
but if you laminate it try the bilge.

[seafox]

Not a very clever statement. There are billions of dollars traded on the share markets every day. It is still business as usual and plenty of investors are still getting in and out. For every seller there is a buyer thinking it is the time to get in.
Go to some share forums and make that comment. You will be shot down in seconds.

Originally Posted by Rez

Mark,
You are the only person I know of who is still putting money in the Stock market. Smart money was out there a while ago.

[ess105]

Agreed. To the extent I am qualified to comment, smart money merely shifts holdings in response to current and anticipated conditions. To be completely out is indicative of gambling rather than investing. There's a lot of people who get in, get out all or nothing and often get it right. Does this make them smart? One by one, sooner or later, each of them makes a bad call and lose big time. Smart money has long term horizons and acts accordingly.

[Therapy]

A letter from my ex-brokerage firm (10 months at least)

January 25, 2008




Dear client,

You have many choices on where to conduct your business, and I am grateful that you have chosen Smith Barney. Given the recent spate of news regarding credit issues affecting Citi and others in our industry, I want you to hear directly from me. That's why I’m sending you this letter and a snapshot of Citi's financial strength.

Despite recent headlines and widespread problems in the credit markets, Citi continues to be among the largest and strongest financial institutions in the world. In January, management took decisive steps to strengthen Citi’s balance sheet so the focus can remain on our clients. Citi raised $15.4 billion in capital through selling securities to a number of private and public investors, and the significant demand for these securities is a clear mark of confidence in our company.At the same time, Citi management is focused on deploying capital to the opportunities with the potential for high growth, while tightly controlling expenses and enhancing risk management—all key initiatives.

These changes will further strengthen Citi’s balance sheet, improve our capital ratios, diversify sources of funding and preserve Citi’s high credit ratings.

I recognize, as does Citi management, that our clients place their trust in us—at all times, but especially during periods of market volatility—and we work diligently every day to earn that confidence. We look forward to serving you in the years to come.

Please do not hesitate to contact meif you have questions.


Best regards,




XXXXXX X XXXXXXXXXX
Vice President - Wealth Management
Portfolio Manager
Financial Advisor

another HOOT!!

It took me over 20+ years to finally realize they do not have my intrests in their mind at all.

I called 3 market crashes and wanted to move stuff in large amounts and was talked out of it every time.
Not again.
I may lose but at least it will be my fault.

If they had just done what I asked (yes, I allowed myself to listen to "wisdom"from a "professional" - toatal BS) I would easily be able to go and buy that boat on "If you could have any boat you want" Easily.

BAH!!

[GordMay]

Marine business latest stock price review ~ By IBI Magazine
“All shares are correct as of Friday, January 18, 2008.”
Marine business latest stock price review

Meanwhile:
IBM riles employees with base pay cuts ~ By BRIAN BERGSTEIN
IBM Riles Employees With Base Pay Cuts

IBM employees are surely singing the blues after the firm announced that it's slashing the salaries of 7,600 employees by 15%. This comes after having paid $65 million to settle a 2006 court case requiring the firm to compensate employees for overtime What a concept – getting paid to work). Did I mention that Big Blue made over $10 billion in profit last year?

[pogo]

Geez. I cannot believe this thread and the commentary on investments strategies, etc.
God rest her soul, the last thing Mom said before she passed, "I have wasted my life."
GO LIVE, DON'T REMAIN IN THE RAT RACE FOR PITIES SAKE.

[Rez]

Originally Posted by Pelagic

As a lifelong sailor, I have always been ignorant when it came to investing in stocks and ultra-conservative about accumulating impulse luxuries or ever getting into debt. (I felt doing those would somehow compromise my freedom)

Ironically a philanthropic gesture to family gave back a tremendous windfall and until lately I thought that major banks were safe to store the cash to see me through my low-key retirement.

However Rez and a few other comments about the vulnerability of even the major banks makes me wonder….If you don’t keep it with the bank, how do you keep that money safe?

You can go in with a bunch of other guys and have a private vault. You can dig under your own home and put in a thoroughly hidden vault. If you have relatives with banks, their safety deposit boxes might be safe. But the best of all solutions are those you will think of that no one else would.

[MarkJ]

Originally Posted by pogo

.
God rest her soul, the last thing Mom said before she passed, "I have wasted my life."
.

I hope she didnt really feel like that. That would be a terrible thought. Of course she shouldnt feel like it bringing up a family - and unless you are emiling from inside the clink, Pogo, she would have been very proud of you and your siblings. Mothers can say things they don't really mean.

However in the broader context you, and she are spot on: we would do things diferently in retrospect. We would have gone sooner, we would have 'lived' more. The 20 year old guy on this board who owns his own yacht (prolly doesnt read this financial thread!!!) should just go now and see what happens.
its up to us old duffers to shove the young people on their way.

All that being said, any money invested helps.


Mark

[muskoka]

Originally Posted by ess105

Agreed. To the extent I am qualified to comment, smart money merely shifts holdings in response to current and anticipated conditions. To be completely out is indicative of gambling rather than investing.

Warren Buffett got completely out of the market in the 70's - he closed the Buffett partnership & sent all the money back to the investors. Jim Rogers now says he is completely out of the US market.

Neither of these gentlemen strike me as gamblers. Both are smart money. Cash is a smart move from time to time. This being one of those times IMHO.

Originally Posted by seafox

Not a very clever statement. There are billions of dollars traded on the share markets every day. It is still business as usual and plenty of investors are still getting in and out. For every seller there is a buyer thinking it is the time to get in.
Go to some share forums and make that comment. You will be shot down in seconds.

They were also piling into Nortel, Pets.com, Dr. Koop et al a few years ago. And as was wittily highlighted in an earlier post, those 'investments' would have been more profitably made on beer. They would have flamed you for that kind of advice but nonetheless beer would've been the better investment.

Originally Posted by Pogo

Geez. I cannot believe this thread and the commentary on investments strategies, etc. God rest her soul, the last thing Mom said before she passed, "I have wasted my life."
GO LIVE, DON'T REMAIN IN THE RAT RACE FOR PITIES SAKE.

Money is important. Reality TV, cars & designer goods etc. are a waste of time, but money is important. I'm personally very concerned about how the fruits of my labour are deployed to my best interests.

I'd recommend everyone to waste a few hours perusing Benjamin Grahams 'Intelligent Investor'. And for levity, follow that up with Fred Schwed's 'Where are all the customers yachts?'.

[MarkJ]

Originally Posted by muskoka

Warren Buffett is completely out of the US market.

Thats impossble as he is a publicly listed company, Berkshier Hathaway.

[MarkJ]

And buffet's mob have been on a buying spree in the last few days so at does that say?
www.kansascity.com | 01/23/2008 | Berkshire Hathaway buys 3 percent of Swiss Re

[ess105]

Originally Posted by muskoka

Warren Buffett got completely out of the market in the 70's

Warren Buffet did indeed close his partnerships in the 70s. You are quite correct in that. Why? Well, leading up to that point he had been buying into a textile company which happened to have a lot of surplus cash. He closed the partnerships in order to concentrate on using the spare cash in the textile company to buy up other companies thus turning the textile company into a holding company. Buffett *never* got out of the market. In the 70s, he shifted his focus to play a bigger game. That textile company was called Berkshire Hathaway. If there was ever money that could be called smart, it would have to be Buffett's. Thanks for the example.

[seafox]

It is good to see someone here who understands the concept of investing.

Originally Posted by ess105

Agreed. To the extent I am qualified to comment, smart money merely shifts holdings in response to current and anticipated conditions. To be completely out is indicative of gambling rather than investing. There's a lot of people who get in, get out all or nothing and often get it right. Does this make them smart? One by one, sooner or later, each of them makes a bad call and lose big time. Smart money has long term horizons and acts accordingly.