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Discussion Starter · #1 ·
I'm out of the market. Going with CD's. The brokers keep telling me not to worry, I'm in for the long haul. Bull ****. I'll be 60 this year.

http://finance.google.com/finance
 

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I left the market last week. My bags were full and the clerk said they were out of Jiff Peanut butter until the new batch comes in the 25th.
 

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It's me, really
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From my experience, brokers don't consider your money their money. They do not buy in. Therefore, it's your loss, your problem. That is unless they are trying to sell then it's always "long term" so they have "market fluctuations" to hide behind. The only one who cares about your money is you, period.
 

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Yeah... I remember hearing the same story from my broker just before the stock market took a dump at the end of the ot com boom. I watched my mutual funds lose 20k, and all the while my POS broker saying..... "you can't just panic." "Don't react emotionally." He actually got mad at me for moving all my money to a money market acct. Then it took them 2 months to actually close the accounts and give me a check. I filed a complaint with the S.E.C. which accounted for absolutely nothing. The whole stock market industry is a bunch of crap. I will never ever deal with Morgan Stanley ever again over that whole fiasco.

I saw my broker in the supermarket a year later and yelled at his stupid arse in front of everyone. Called him a crook and a scumbag. He never even returned my calls after I closed my accounts with them. It's like John Larkin sez.
 

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To the best of my knowledge, even the best of the FDIC accounts, be they money markets, or cd's, won't hardly if ever cover the cost of living increase at least you are pretty assured that the money will be there when you need/want it. I would rather make a personal cash loan to an attorney before I would ever invest money with a brokerage house. Of course, I don't have you guy's money, either. I am so distrustful of things in general that at work they developed a special name for me. Honest to God, they call me Garynoid, from the work paranoid. Just thought that I would share.
 

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chrisgarrett46 said:
I'm out of the market. Going with CD's. The brokers keep telling me not to worry, I'm in for the long haul. Bull ****. I'll be 60 this year.
Like racing the only way to make a small fortune from the stock market, is to start with a large one. Years ago, 60 Minutes (or one of the Prime time news shows) did a show about buying stocks by throwing darts at a board with just co. names on it. Tossing darts matched the best *advise* of any broker.
 

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Doc1of7 said:
Like racing the only way to make a small fortune from the stock market, is to start with a large one. Years ago, 60 Minutes (or one of the Prime time news shows) did a show about buying stocks by throwing darts at a board with just co. names on it. Tossing darts matched the best *advise* of any broker.
i think i saw that!
 

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I've always just viewed it as gambling on a larger, more addictive scale.
 

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Orlando_87GN said:
I've always just viewed it as gambling on a larger, more addictive scale.
I think of it more of as a PONZI scheme. Just don't be on the last layer and you'll be ok.

I think the plan of buy and hold is out dated and short sighted. Check out a book called "Who Took My Money" by Robert Kyosaki. It gave me a whole new view of why I don't buy and hold.

Isn't that why they call them "Brokers" they don't have any money and if they were that great they'd be rolling in it. Ask to see these guys personal portfolio and they will balk. They are in the business of selling securities not investing.

You need to know what you invest in or it is probably better to be in some type of guaranteed return type of investment(Bonds, CDs, etc...).
 

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My 401K lost 30g's in the past 8 weeks. I *was* planning on retiring in 2 years but the way this [email protected] is going, I'll be lucky to retire at all... My opinion? It's huge conspiracy to keep the boomers working (and paying SS) until they die! I think I'll cash it all in and buy a Hemi-Cuda!

Russ
 

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Discussion Starter · #11 ·
As I said before, I am definitely cashing out my mutuals and going with CD's. The local bank here has a 5%, 7 month cd. With the stock market, everytime I make some money, I lose it again.
 

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Discussion Starter · #13 ·
ULYCYC said:
Buy a fleet of turbo Buicks with all your money :cool:
Or I could just enjoy the benefits of a nice fleet enema.
 

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S10xGN said:
My 401K lost 30g's in the past 8 weeks. I *was* planning on retiring in 2 years but the way this [email protected] is going, I'll be lucky to retire at all... My opinion? It's huge conspiracy to keep the boomers working (and paying SS) until they die! I think I'll cash it all in and buy a Hemi-Cuda!

Russ
I owned a 70 HEMI-CUDA. :D
 
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