Club Cobra - New, New Chat Thread

Did you mean that my stock portfolio was down to $2.00 when I bailed out? If so, I'd either be looking for a job or a window to jump out of. I do not have either in mind.

Where did the donkey come into this coversation?

Glad you got a job teaching .. maybe you now can confuse the crap out of your students.

wtm442

10-10-2008 11:31 AM

Quote:

Originally Posted by 4RE KLR (Post 887801)

America is in the toilet from buying from every other country on the planet, right? The economy will continue to free fall, until Americans get PISSED OFF and stop buying crap made in other countries. That will bring the buyers back to American made products.

Steve I think you are a little off base, IMHO. All of this meltdown is due to the housing market that was overheated. When the prices of housing fell (the bubble burst), tons of people were in the negative equity due to the stupid loans that Fanny and Freddy were giving out like candy (interest only, sub-prime, adj rate, etc). So the people (who would never had gotten a home loan 20 years ago) were defaulting on their loans that were being created by stupid congressional interference in the mortgage business, associations like ACORN and others that forced (strong-armed) many banks into making these stupid loans, and many greedy people at high levels. So the banks started hemorrhaging as defaults mounted. The extremely risky mortgage derivatives that were bundled and sold to big investment banks went into the crapper. Its very complicated, but it has very very little to do with imported goods.

All of this free-fall is due to about 3 to 5% of the mortgages going into default.

The only thing that will fix this problem is the "free market system" and time. Of course, with Obama as President, the time to recovery will be increased dramatically.

4RE KLR

10-10-2008 11:44 AM

Yea, I know. I just think that importing as much as we do vs. exporting is not helping matters one bit.

It seems the more crap we import from China, the more crap we get.

With the "SWAP" markets hitting the skids we are in for a long hard ride for sure. This kind of nonsense (started by Bill Clinton, Thank you very much) should be outlawed!

392cobra

10-10-2008 04:04 PM

Ford ended at $2.01. It's even a better deal now Steve.:)

4RE KLR

10-10-2008 05:23 PM

Yea, It got down to $1.90. I am not ready to jump in, but you know there are tons of undervalued stocks just ripe for the picking.

Buy and hold, don't panic sell.
I think the odds would be in an investors favor on many stocks right now.

392cobra

10-10-2008 05:27 PM

Apple (aapl) tasted mighty fine at $90.

Lots of bargains.

wtm442

10-10-2008 07:12 PM

I hear ya. We definitely import a lot of crap. But we also export a lot of stuff too. Rather than try to restrict imports, the gov't should be "helping" companies to export more stuff with tax incentives.

Well, just spent 4 hours cleaning the Cobra, but I still had time to get in a nice evening ride. Temp was about 69°F at 6 PM and now at 10 PM its all the way down to 54°F.

All right Red Sox - ahead by a run so far.

wtm442

10-10-2008 07:16 PM

Forget individual stock right now. Diversify and reduce risk with mutual funds for now. Of course, you always can take a flyer on a stock or two, but only a small % of your portfolio. I'm going to wait until after the election and then consider what to buy. Right now its CD's, bonds and money market funds.

Ron61

10-11-2008 02:40 AM

:)

Ok a solution to your problem. All of you send me $10K to hold until 8 years from now when Obama is out of office. Then the value of money, gold, silver and everything else will raise. And you can contact me with my brand new $12 million car in Europe. Also invest in Frog and Turtle farms as that is all people will be able to afford to eat. :LOL:

Ron :p

wtm442

10-11-2008 03:55 AM

Quote:

Originally Posted by Ron61 (Post 888040)

:)All of you send me $10K to hold until 8 years from now when Obama is out of office. Ron :p

I'd rather invest in the Sealy Posturpedic bank. :LOL:

Part of the meltdown is due to Barack O'Drama. All of his rhetoric about dramatic increases in the capital gains tax has many people worried. My CPA sister owns an accounting/tax company and she has told all of her clients to sell any investment with very large gains before the O'Drama tax increases become effective.

Ron61

10-11-2008 04:11 AM

:3DSMILE:

Warren,

Under my plan there won't be any capital gains to worry about. Notice I said for 8 years until Obama is out of office. If each of the 10K plus members of CC sent me $10K, the only gain would be mine. I could then move to another country, but whatever cars I wanted, become a citizen there, come back here as an illegal alien and get all of the benefits and live well. And you could claim that $10K off of your income tax as a gift to the needy.

Ron :LOL:

392cobra

10-11-2008 05:42 AM

Quote:

Originally Posted by wtm442 (Post 888046)

Part of the meltdown is due to Barack O'Drama. All of his rhetoric about dramatic increases in the capital gains tax has many people worried. My CPA sister owns an accounting/tax company and she has told all of her clients to sell any investment with very large gains before the O'Drama tax increases become effective.

Very good advise.
I wonder if O really believes people will allow themselves to be sitting ducks for their profits to be stolen .%/

392cobra

10-11-2008 05:44 AM

Quote:

Originally Posted by Ron61 (Post 888040)

:)

Also invest in Frog and Turtle farms as that is all people will be able to afford to eat. :LOL:

Ron :p

Frenchy said you can eat her for free.:eek:

Ron61

10-11-2008 06:11 AM

:D

Fred, tell her I said thanks but Warren and Tru are already ahead of me for her services.

I guess I can start hunting wild pigs in the upper canyons. But I will do it the way we used to when I was young. With rocks and large sticks. Of course I could run quite well then too. :LOL:

Ron :p

392cobra

10-11-2008 06:40 AM

Well,I guess I need to put on a couple hundred miles this morning before The Big Game* at noon.

* Texas - Oklahoma

Ron61

10-11-2008 07:05 AM

Your weather must not be to bad if you are going to ride a couple of hundred miles this morning. It is in the low 50s here and the wind is blowing around 15/25 MPH according to the weather. To cold and windy for me to be out doing a lot. Enjoy the ride.

Ron :p

4RE KLR

10-11-2008 07:23 AM

Nice outside, shorts and a golf shirt.

Warren,
If you wait too long you will miss the free fall.
Better jump in now while you still can. :LOL:

I see that Chrysler and GM are considering a merge. I am not sure how this will shake out but I think a lot will happen in the up coming week. With the G7 and the G20 meeting this weekend. I think they will come up with something to calm investors nerves a little.

Funny thing.
I heard on TV yesterday (I cannot remember which show, Beck, or Dobbs Maybe?)
"This downturn is getting serious, it is beginning to effect the rich people. Now something will get done"

4RE KLR

10-11-2008 07:25 AM

OH, BTW:
Ron, I seemed to have misplaced your address. I was thinking your investment idea is about as good as I have herad, and need to get the 10K in the mail.

Will you take a check? :LOL:

Ron61

10-11-2008 07:41 AM

:LOL: :LOL:

Steve,

Get the check in the mail as quickly as possible. Everyone had better get them to me before Obama is elected or you will be giving them to him.

I voted yesterday. So now I can complain all I want as I vote every year, but since I beat some of you to it, I get to complain more right now. Crap, it took me three days to read all of the darn propositions they had stuck on the ballot, and of course this school district had another one wanting more money. They have had them on every ballot for the past ten years and I have yet to see a new building or anything else show up for all that extra money they add to our property taxes except the school board is now well paid.

Ron :confused:

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