Comments on: Friends Don’t Let Friends Bail Out of the Market http://genxfinance.com/2008/09/30/friends-dont-let-friends-bail-out-of-the-market/ Helping a unique generation achieve financial independence. Sat, 20 Mar 2010 15:15:15 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: savings account http://genxfinance.com/2008/09/30/friends-dont-let-friends-bail-out-of-the-market/#comment-107127 savings account Fri, 20 Feb 2009 12:14:55 +0000 http://genxfinance.com/2008/09/30/friends-dont-let-friends-bail-out-of-the-market/#comment-107127 Excellent advice as usual. When I look at the present economic climate, I have to think” I'm still lucky yet" Excellent advice as usual. When I look at the present economic climate, I have to think” I’m still lucky yet”

]]> By: The Best Buying Opportunity in History? | Rollover USA http://genxfinance.com/2008/09/30/friends-dont-let-friends-bail-out-of-the-market/#comment-106861 The Best Buying Opportunity in History? | Rollover USA Wed, 18 Feb 2009 15:46:49 +0000 http://genxfinance.com/2008/09/30/friends-dont-let-friends-bail-out-of-the-market/#comment-106861 [...] X Finance. He blogs primarily to an audience in their 20’s, 30’s, and 40’s and insists that ‘friends don’t let friends bail out of the market.’ It’s our duty as financial professionals to help people make prudent moves. The idea of pulling [...] [...] X Finance. He blogs primarily to an audience in their 20’s, 30’s, and 40’s and insists that ‘friends don’t let friends bail out of the market.’ It’s our duty as financial professionals to help people make prudent moves. The idea of pulling [...]

]]> By: cat http://genxfinance.com/2008/09/30/friends-dont-let-friends-bail-out-of-the-market/#comment-93212 cat Sat, 08 Nov 2008 09:46:17 +0000 http://genxfinance.com/2008/09/30/friends-dont-let-friends-bail-out-of-the-market/#comment-93212 Only chickenharted live the market at this point, the market can't be all the time on the bottom, anyway it'll go up, the tendetion always changes Only chickenharted live the market at this point, the market can’t be all the time on the bottom, anyway it’ll go up, the tendetion always changes

]]> By: Bruce Brammall http://genxfinance.com/2008/09/30/friends-dont-let-friends-bail-out-of-the-market/#comment-92702 Bruce Brammall Tue, 04 Nov 2008 11:44:50 +0000 http://genxfinance.com/2008/09/30/friends-dont-let-friends-bail-out-of-the-market/#comment-92702 Great site, guys. I'm a financial adviser in Australia and have, thankfully, not been having too many clients wanting to panic sell, even though our market has done even worse than most other major Western countries since November 1, 2007. We have been off about 45% at our worst. That's partly because we drove so much higher to start with, because we supply so much to China in the way of resources and we're being punished as China's growth slows. It probably doesn't make a lot of news over in the US, but the Reserve Bank of Australia (equivalent of your Fed) has cut the official cash rate from 7.25 per cent to 5.25 per cent in three moves in September, October and November. They cut by 0.75% today, after a move of a full 1% last month, which shocked the hell out of the whole nation. No-one saw that one coming. Even though our underlying economy is in great shape, there's plenty of fear and loathing about what's going to happen next year, as North America, Europe, the UK and Japan start to slide. We trade with the rest of the world and there's true fear happening. There are big parts of our stockmarket that would appear to be screaming buys at the moment also. And I'm working with clients to get them to dip their toes. We're not having bank failures. We've got two of the biggest mining companies in the world (BHP and Rio Tinto) and I think we'll come out fine. A recession? Possibly. But it'll be shallower than most of our other western colleagues. Good to see the website. Bruce "Debt Man" Brammall, www.debtman.com.au Great site, guys. I’m a financial adviser in Australia and have, thankfully, not been having too many clients wanting to panic sell, even though our market has done even worse than most other major Western countries since November 1, 2007. We have been off about 45% at our worst. That’s partly because we drove so much higher to start with, because we supply so much to China in the way of resources and we’re being punished as China’s growth slows.
It probably doesn’t make a lot of news over in the US, but the Reserve Bank of Australia (equivalent of your Fed) has cut the official cash rate from 7.25 per cent to 5.25 per cent in three moves in September, October and November. They cut by 0.75% today, after a move of a full 1% last month, which shocked the hell out of the whole nation. No-one saw that one coming.
Even though our underlying economy is in great shape, there’s plenty of fear and loathing about what’s going to happen next year, as North America, Europe, the UK and Japan start to slide. We trade with the rest of the world and there’s true fear happening.
There are big parts of our stockmarket that would appear to be screaming buys at the moment also. And I’m working with clients to get them to dip their toes. We’re not having bank failures. We’ve got two of the biggest mining companies in the world (BHP and Rio Tinto) and I think we’ll come out fine. A recession? Possibly. But it’ll be shallower than most of our other western colleagues. Good to see the website.

Bruce “Debt Man” Brammall, http://www.debtman.com.au

]]> By: Mike Rowan http://genxfinance.com/2008/09/30/friends-dont-let-friends-bail-out-of-the-market/#comment-91891 Mike Rowan Tue, 28 Oct 2008 14:36:52 +0000 http://genxfinance.com/2008/09/30/friends-dont-let-friends-bail-out-of-the-market/#comment-91891 Jeremy, I always enjoy reading your posts....this one reminds me of when I was a financial advisor with UBS, and people wanted to dump everything right after 9-11. It would have been the worst possible thing to do in hindsight. Also, we are organizing a financial blog community at www.erollover.com, and would love to get your permission to have a link to your site there, and also to extend you the offer of having a post on retirement on our front page, taking the place of the one from the Financial Woman. Check it out and let me know if you would like to contribute. Thanks, Mike Rowan Jeremy,

I always enjoy reading your posts….this one reminds me of when I was a financial advisor with UBS, and people wanted to dump everything right after 9-11. It would have been the worst possible thing to do in hindsight.

Also, we are organizing a financial blog community at http://www.erollover.com, and would love to get your permission to have a link to your site there, and also to extend you the offer of having a post on retirement on our front page, taking the place of the one from the Financial Woman. Check it out and let me know if you would like to contribute.

Thanks,

Mike Rowan

]]> By: Jim http://genxfinance.com/2008/09/30/friends-dont-let-friends-bail-out-of-the-market/#comment-91726 Jim Sun, 26 Oct 2008 18:53:15 +0000 http://genxfinance.com/2008/09/30/friends-dont-let-friends-bail-out-of-the-market/#comment-91726 I don't quite subscribe to the theory that because the market is down we've reached a bottom, but that also doesn't mean we should all rush out an liquidate our holdings. I tend to like stocks right now that have 25% of their market value in cash and pay a hefty dividend. If you use this strategy to find both domestic and international names, you'd be earning an attractive yield to wait for a recovery and you'd also be hedging any currency risk to the dollar due to a runaway government on a spending binge of epic proportions! How longs can we go before the inflation gig is up? I don’t quite subscribe to the theory that because the market is down we’ve reached a bottom, but that also doesn’t mean we should all rush out an liquidate our holdings. I tend to like stocks right now that have 25% of their market value in cash and pay a hefty dividend. If you use this strategy to find both domestic and international names, you’d be earning an attractive yield to wait for a recovery and you’d also be hedging any currency risk to the dollar due to a runaway government on a spending binge of epic proportions! How longs can we go before the inflation gig is up?

]]> By: Super Saver http://genxfinance.com/2008/09/30/friends-dont-let-friends-bail-out-of-the-market/#comment-91711 Super Saver Sun, 26 Oct 2008 16:09:43 +0000 http://genxfinance.com/2008/09/30/friends-dont-let-friends-bail-out-of-the-market/#comment-91711 Jeremey, I think it's interesting that neither you nor the commenters show any sign of fear. Probably, means the market can go quite a bit lower. I never thought the Dow would cross 8000 this year. While I am not pulling out funds, my plan is to wait until Dow 4000 or 12000 before adding new money:-) In the meantime, I'm hedging with options and plan to use inverse ETFs when the next rally happens. Jeremey,

I think it’s interesting that neither you nor the commenters show any sign of fear. Probably, means the market can go quite a bit lower.

I never thought the Dow would cross 8000 this year. While I am not pulling out funds, my plan is to wait until Dow 4000 or 12000 before adding new money:-) In the meantime, I’m hedging with options and plan to use inverse ETFs when the next rally happens.

]]> By: Using CD Ladders To Save Wisely : Generation X Finance http://genxfinance.com/2008/09/30/friends-dont-let-friends-bail-out-of-the-market/#comment-91428 Using CD Ladders To Save Wisely : Generation X Finance Thu, 23 Oct 2008 23:47:49 +0000 http://genxfinance.com/2008/09/30/friends-dont-let-friends-bail-out-of-the-market/#comment-91428 [...] bailing out of the stock market may not be a good idea, unsteady economic times like today’s tend to make you look around for [...] [...] bailing out of the stock market may not be a good idea, unsteady economic times like today’s tend to make you look around for [...]

]]> By: 25 Resources To Help You Get Through The Financial Crisis — Broke Grad Student http://genxfinance.com/2008/09/30/friends-dont-let-friends-bail-out-of-the-market/#comment-91385 25 Resources To Help You Get Through The Financial Crisis — Broke Grad Student Thu, 23 Oct 2008 11:06:05 +0000 http://genxfinance.com/2008/09/30/friends-dont-let-friends-bail-out-of-the-market/#comment-91385 [...] Friends Don’t Let Friends Bail Out of the Market [...] [...] Friends Don’t Let Friends Bail Out of the Market [...]

]]> By: doctor S http://genxfinance.com/2008/09/30/friends-dont-let-friends-bail-out-of-the-market/#comment-91335 doctor S Wed, 22 Oct 2008 21:33:51 +0000 http://genxfinance.com/2008/09/30/friends-dont-let-friends-bail-out-of-the-market/#comment-91335 Not only friends, but family members as well! My mom is in her late 50's and very late in to the retirement game as she works 2 different jobs. She got very scared and wanted to move her money out of what it was in but for her sake I told her to keep it where it was b/c she isnt planning on retiring within the next 5 years at least. My friends on the other hand are another story, they are all giving me crap b/c their money is with my company (large financial service compnay focusing on mutual funds) and returns are bad. But they are bad everywhere unless you were in a hedge that bet against subprime. It will fix its self over time. Great post. Not only friends, but family members as well! My mom is in her late 50’s and very late in to the retirement game as she works 2 different jobs. She got very scared and wanted to move her money out of what it was in but for her sake I told her to keep it where it was b/c she isnt planning on retiring within the next 5 years at least.

My friends on the other hand are another story, they are all giving me crap b/c their money is with my company (large financial service compnay focusing on mutual funds) and returns are bad. But they are bad everywhere unless you were in a hedge that bet against subprime. It will fix its self over time. Great post.

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