Thread: share market crash

already the US dow futures is down 500.... tomorrow is going to be another day of negatives - apparently.

I think saturdays real estate auction results (in melb or anywhere else that does auctions) will be VERY interesting and telling ... i'm thinking a few pass ins from lack of bids!!!

Originally Posted by Camo

Mate of mine had 400k invested in MFS

went from $6 to $0.70 in 2 days and he had to sell at $0.90c

now has nothing.. poor bugger

But thats how it goes I guess

Like they say don't invest if you cant afford to lose.


Martyn

Originally Posted by Bushie

Like they say don't invest if you cant afford to lose.


Martyn

I think that is a very negative attitude. Most winners couldn't afford to lose at some stage in their life, but they went ahead anyway. Some lost it all and had to start over, some were lucky and didn't. Either way, the right attitude is everything.

I suppose it'll be those who geared up heavily ( ie borrowed money ) to invest who'll really feel the pain ... would that be part of the reason why there's been such a big fall .. i.e. highly geared investors being forced to sell to meet their margin calls ?

Originally Posted by waynep

I suppose it'll be those who geared up heavily ( ie borrowed money ) to invest who'll really feel the pain ... would that be part of the reason why there's been such a big fall .. i.e. highly geared investors being forced to sell to meet their margin calls ?

i think thats a small/minor part of it. i counted 6 people at work avoiding calls from margin lenders....

Superfunds pour in billions of dollars every year, margin accounts would be a fraction in comparison.

.... its bigger than that.

My guess is the US will fall tonight if DOW futures are any indication, probably about 5% give the futures where down 500 points a few minutes ago.

so many people are throwing around theories and then so many people are saying they knew it was coming....

Some are saying it will be a bear market for the next few years, some are saying it will be a global recession within a year... who really knows.

I know that its a once in a lifetime correction, and history shows the best time to buy is just after a correction... thats what i did today, and will do tomorrow and for the next month and more. BUY BUY BUY.

Look on the bright side.
The price of oil is $87 for Brent Crude this morning , down from $100.
If the US goes into recession the price will fall quite a bit.

I am a self funded superannuant and my capital has taken battering, down to about my buy in price minus my pension for the year so far.

I am happy with my shares and I have enough cash to tide me over for quite a while. I wish I had more cash to buy with though.

I still wonder about the lemmings. Australia's economy is in great shape and the dividend percentages are really looking good on some stocks now.
Regards Philip A

Originally Posted by BigJon

I think that is a very negative attitude. Most winners couldn't afford to lose at some stage in their life, but they went ahead anyway. Some lost it all and had to start over, some were lucky and didn't. Either way, the right attitude is everything.

But i think in this case the bloke was stupid to sell and not hang in there for them to go back up. As i said before , that sort of dealing is what sends the price down.

God i wish i had $50,000 sat in an accout doing nothing. I could clean up at the moment. So cheap bargin shares around

Originally Posted by BigJon

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.

Firstly, I applaud you for investing!

Just one point.. property has crashes too. Its just been a while now and everyone has forgotten. Never in history has there been a property boom without a "correction" afterwards.

Believe me... people do get burnt in property...