share market crash

the guy that predicted the russian meltdown also predicted the usa would go the same way within a few years... oops...

and it isnt just shares that is going to take a hiding....

one reason gold is where it is i suppose.. wasnt all that long ago it was in the 300's

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Originally Posted by 87County

great prices CBA $49, RIO $104, BHP $31

past experience indicates that it WILL bottom out

this maybe it or it could go another few%

in any case, a good time to do some BUY! BUY! (now wait for someone to make a joke about $ bye bye :) ) but not a good time to BORROW! BORROW! - in other words do it with your own money, not margins.

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yep, i'm on top of those bargains:D... A day/next few days like today only come along once or twice in a lifetime.

I agree about borrowing, I hate debt; my current debt levels are $0

The good thing for me is my portfolio is still up (from entry) so i can't complain to much about the last few days.:)

I just pity the people getting margin calls, because they would be big!:o

Price only matters when you sell.

The potential for real money is made when buying, not selling. A low sell price doesn't matter if the buy price was very low indeed :D.

It does not matter what the price is when you buy, it is when you sell that you determine if you made a profit or not.

I think we are both saying the same thing, from different directions :p.

If you sell for more than you buy, then a profit is there (ignoring comissions, etc). Pretty basic business sense really.

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Originally Posted by BigJon

The potential for real money is made when buying, not selling. A low sell price doesn't matter if the buy price was very low indeed :D.

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My granddad always used ot tell me

Its not what you sell if for thats, that important. Its what you bought it for, that is the more important bit

I won't be retiring anytime soon. My superannuation has dropped $70k over the last year.

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Originally Posted by p38arover

I won't be retiring anytime soon. My superannuation has dropped $70k over the last year.

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That is the reason why I don't put extra money into the government legislated saving scheme that is superannuation. I think it is a scheme that is bound for failure, just as the US one is. My spare money goes into investment properties.

This was coming like a slow train. Only peoples greed kept the market going. I got 80K + capital growth on my super last year and went conservative (70% cash) in November, sure, it was hard to pass over 20% plus growth, but, to me, this was going to happen for sure. I actually thought it would be later in 2008.
I lost 12 grand in the three weeks it took the fund to process the request. I would hate to think what it would be now if I stayed agressive portfolio.
So this is me today... :Rolling::Rolling::twobeers::clap2::BigThumb:

With humble apologies to those who have taken a serious loss.

David