Missoula Griz Posted August 9, 2007 Share Posted August 9, 2007 2nd worst day in 07. http://money.cnn.com/2007/08/09/markets/ma...sion=2007080916 Quote Link to comment Share on other sites More sharing options...
muck Posted August 9, 2007 Share Posted August 9, 2007 Note to the world: The markets do things besides go up. Quote Link to comment Share on other sites More sharing options...
Missoula Griz Posted August 9, 2007 Author Share Posted August 9, 2007 Note to the world: The markets do things besides go up. Dont waste your time and open your 3rd quarter 401K statement. Quote Link to comment Share on other sites More sharing options...
muck Posted August 9, 2007 Share Posted August 9, 2007 Dont waste your time and open your 3rd quarter 401K statement. That's silly advice. Putting your head in the sand won't solve any problems. Open your statement, see who did what, and if you don't like how something performed, find out why. If you don't like the answer, fire them and give the money to another firm. ...and, if you don't like that answer, find a competent financial advisor (finding a competent one can be a challenge, fyi ... the guy that is nice and can carry a good conversation is not necessarily the guy to hire; hire the guy who understands something about risk and how to mitigate unwanted risk). And, regarding me personally, I manage all my own money and I haven't had a down month in nearly three years. I don't expect August to be any different. Quote Link to comment Share on other sites More sharing options...
TDFFFreak Posted August 10, 2007 Share Posted August 10, 2007 Note to the world: The markets do things besides go up. wa? Huh? You mean I shouldn't expect to make 25%-30% a year on my stock investments each year? Quote Link to comment Share on other sites More sharing options...
dmarc117 Posted August 10, 2007 Share Posted August 10, 2007 mmmmmm....me love the volatility Quote Link to comment Share on other sites More sharing options...
cdrudge Posted August 10, 2007 Share Posted August 10, 2007 wa? Huh? You mean I shouldn't expect to make 25%-30% a year on my stock investments each year?Of course not. Sometimes you can make 40 or 50% too. Give it a few days and the market will be back up. Just like the last time it went down 300 points. Just checked the retirement account and even with today's slump I'm still up nearly 10% for the year. Quote Link to comment Share on other sites More sharing options...
Missoula Griz Posted August 10, 2007 Author Share Posted August 10, 2007 That's silly advice. Putting your head in the sand won't solve any problems. Open your statement, see who did what, and if you don't like how something performed, find out why. If you don't like the answer, fire them and give the money to another firm. ...and, if you don't like that answer, find a competent financial advisor (finding a competent one can be a challenge, fyi ... the guy that is nice and can carry a good conversation is not necessarily the guy to hire; hire the guy who understands something about risk and how to mitigate unwanted risk). And, regarding me personally, I manage all my own money and I haven't had a down month in nearly three years. I don't expect August to be any different. Most 401K portfolios are diversified. When the market goes down, most likely there is a direct correlation to most 401K plans. This is not rocket science. Quote Link to comment Share on other sites More sharing options...
broncosn05 Posted August 10, 2007 Share Posted August 10, 2007 NFI - It's like clock work Quote Link to comment Share on other sites More sharing options...
billay Posted August 10, 2007 Share Posted August 10, 2007 Funny thing is, My 401 just got shifted from one company to another. I was slow in getting them back the paperwork, so all of my funds were put into bonds as a default position. I was just getting ready to send them my picks a day or 2 ago. Quote Link to comment Share on other sites More sharing options...
muck Posted August 10, 2007 Share Posted August 10, 2007 Most 401K portfolios are diversified. When the market goes down, most likely there is a direct correlation to most 401K plans. This is not rocket science. If a portfolio is directly correlated to the market, how diversified is it really? Quote Link to comment Share on other sites More sharing options...
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