Holy Market Meltdown Batman

WSS2 · Oct 03, 2011, 03:13 PM

In the words of Samuel L. Jackson in Jurassic Park:

"Hold on to ya' butts"

YouAre_GivenToFly · Oct 03, 2011, 04:52 PM

Good thing I don't have any money to invest, anyway!

WSS2 · Oct 03, 2011, 05:08 PM

Scary, scary news...posted here before...if anyone here reads this and is thinking about investing. WAIT, unless you can take 5-10 years horizon and are willing / have to cojones to stomach severe volatility in the short-term...Look at Bank of America and Citigroup stock...feeling A LOT like 2008

YouAre_GivenToFly · Oct 03, 2011, 10:37 PM

The company I work for had an IPO about a year ago... very glad I didn't invest the little I had back then, since its trading about $3 lower than the IPO. I'm putting all my money in savings for right now... sure its only making 1%, but its not losing any!

BH · Oct 04, 2011, 03:34 PM

Quote from: YouAre_GivenToFly on Oct 03, 2011, 10:37 PM
The company I work for had an IPO about a year ago... very glad I didn't invest the little I had back then, since its trading about $3 lower than the IPO. I'm putting all my money in savings for right now... sure its only making 1%, but its not losing any!

Wow, your getting 1%! I need to move my savings account!

WSS2 · Oct 04, 2011, 03:36 PM

haha yeah I'd check that...you're probably earnings more like 0.1% in your account...sadly not kidding there either

For reference, the 5 year U.S. Treasury is yielding less than 1% ... i.e. give then government 100 bucks, you'll get 105ish back....in 5 years

YouAre_GivenToFly · Oct 04, 2011, 09:18 PM

Yep I've got an ING savings account @ 1%.... when I opened it back in 2005 or so it was 4 or 5%.... those were the days.

WSS2 · Oct 05, 2011, 08:14 AM

haha man...ING does have great CD / savings rates....yes, crazy to think earning 1% in your savings account is "killing it"