Yeah, the same people that keep saying during tax free weekend you save 7%.

9/16/2008 1:14:06 PM

I'm actually reading the Intelligent Investor as well, great book so far. After reading the chapter on inflation and then take into account taxes on any gains (IF ANY) it is kind of depressing.

Anyone else hold any shares of ING? I just got back in the market recently and bought some ING stocks at $31/share a couple weeks ago and they are down to $26/share at the time of this post. They had some exposure to those Lehman Bros. assholes, $100M euros. The balance sheet for their company looks solid though and at the current price they have a PE ratio of 6.25.

9/16/2008 1:26:29 PM

why would you buy anything in the financial sector right now....?

9/16/2008 1:38:17 PM

Wow. He got suspended quickly.

9/16/2008 1:45:33 PM

^^ Because there's blood in the street?

9/16/2008 1:55:14 PM

i havent touched any financials since the fre/fnm bill

apparently, you can read most of the graham book online:
http://books.google.com/books?printsec=frontcover&id=NuoltFFAIzUC#PPP1,M1

it's still worth buying, though. highlight it, add notes, etc.

9/16/2008 2:00:57 PM

DOW up 108

[Edited on September 16, 2008 at 2:48 PM. Reason : ]

9/16/2008 2:48:08 PM

Damn, this is RacialHarmny, for full disclosure. Not sure why my other name was suspended?

Anyhow to answer agentlion's question, I bought into financial sector because I thought at the time it was a good price and near the bottom. I was wrong. I'm no professional, but I try to buy when stocks are low and I thought that 31 per share of ING (a very conservative bank) was a great buy. Now with it being 16% down I still plan on holding it.

I've got SMS alerts to my phone when it's reached a 10% increase from the price I paid and then I'll likely sell, be it next week or next 3-5 years, but not before.

[Edited on September 16, 2008 at 2:49 PM. Reason : x]

9/16/2008 2:48:27 PM

9/16/2008 2:51:26 PM

I moved all of my financials to a separate account and set up DRIPs. I'm not planning on touching them for several years, so hopefully the high dividends resulting from the low stock prices will help it grow as they rebound.

9/16/2008 2:58:26 PM

yeah I set up my account so all my investments are on the DRIP. Is there a reason your other stocks in other segments are not on that plan?

[Edited on September 16, 2008 at 3:04 PM. Reason : .]

9/16/2008 3:02:24 PM

if i waited to buy this morning instead of yesterday right before close, i could've saved 2 or 3 %.

in any case, i think the selling is overdone, atleast in the near term

9/16/2008 3:03:17 PM

Quote :

"Yeah, the same people that keep saying during tax free weekend you save 7%."

you save 6.75%

9/16/2008 3:24:47 PM

Ok so let me get your guys opinion on this. When averaging stocks down when they start heading back up do you take off your lower bought shares to lock in some profit, but therefore offsetting your average down. Or do you try and let them all ride in hopes you can get out of a stock completely if it moves high enough.

Example:

I bought 110 shares of ESLR back at 9.00
I bought 100 more shares at 7.00
I bought 100 more shares at 4.10

So after commissions I am averaged down to about 6.84 now. My question is lets say it makes it back up to 6 ish. Do you take off the 100 shares you got at 4.10 and the profit from those. Or let those shares ride in hopes of making it up over 7 and being able to profit on all your shares? I suppose this depends a lot on how the stock is trending but just trying to get a general idea. My thoughts would be to sell the 100 at 6 and subtract the profit from those shares from how much you are down on the shares left to get a better idea of your break even point. If the price heads up to say 8 then take off the shares at 7. If the stock heads down to 5 or lower then rebuy in again. Make sense?

9/16/2008 3:30:57 PM

sell the stock at a loss for a tax break

9/16/2008 3:45:53 PM

I have a few months before I need to figure that out, I feel certain a few of mine will still be low enough to take advantage of the write offs lol

9/16/2008 3:48:39 PM

if you've held the stock for less than a year, it's still considered a capital gain/loss... but if you've held it for less than a year, it's considered normal wages only on a capital gain.

do i have this correct?

[Edited on September 16, 2008 at 3:52 PM. Reason : ]

9/16/2008 3:51:41 PM

You don't save 6.75% either.

9/16/2008 3:53:14 PM

added some to my VWO position today (like $800)

put in an order for a few hundred bucks worth of NSMG (to add to my inconsequentially small current position), but it never got filled.

9/16/2008 7:36:10 PM

Fed "bails" out AIG with $85b loan in return for 80% ownership

I like the move. We had to let Lehman fail (you know, America is the main champion of free market capitalism) but letting AIG go down would cause a worldwide financial catastrophe...should be another wild one tomorrow

9/16/2008 9:21:17 PM

AIG has to sell its assets to pay the loan back within 2 years. I was hoping to scoop them up at a deal, but with there assets gone that still puts them in a bad place

9/16/2008 9:44:12 PM

Quote :

"You don't save 6.75% either."

well how much do you save?

9/16/2008 10:26:22 PM

You have ~6.23% if sales tax is 6.75%

9/16/2008 10:58:56 PM

Quote :

""You don't save 6.75% either.""

completely kiddin'

9/16/2008 11:03:28 PM

Well obv ^^^ didn't think so.

9/17/2008 7:56:37 AM

GE just keeps going down...

I'm down almost $20k in GE since last October.

9/17/2008 10:58:56 AM

I'm going to take that guys advice and buy a big tv instead of putting any more money in the market.

9/17/2008 11:05:39 AM

Morgan Stanley getting CRUSHED

9/17/2008 11:31:01 AM

buying GE

thinking about buying TEX

[Edited on September 17, 2008 at 11:54 AM. Reason : ]

9/17/2008 11:44:20 AM

I think it might be time to pull out of V -- while I'm still in the green.

edit: Sold 108 shares at $64.11. Need to pay off a few things (credit card -- engagement ring ) and I want some fluid money to put back into the market when it bottoms out. I'm thinking of dumping my XOM too.

[Edited on September 17, 2008 at 1:52 PM. Reason : ]

9/17/2008 1:48:27 PM

Quote :

"yeah I set up my account so all my investments are on the DRIP. Is there a reason your other stocks in other segments are not on that plan?"

I've got pretty good losses on all of my financials. The low stock price has created higher percentage dividends ehich should lead to more successful DRIPs. I mostly moved them to another account so that I wouldn't be tempted to sell covered calls and lose my shares before they rebounded. As is I'm not planning on touching them for several years.

Also I'm using my shares to secure a line of credit from Wachovia for another project.

9/17/2008 3:51:28 PM

picked up some GS @ 103

here's to risk

9/17/2008 3:59:55 PM

Sold the rest of my IAU.

9/17/2008 4:03:06 PM

Good think I rebought into AUY a week or so again, nice run thanks to gold prices up overall about 4% today versus the destroyed market so Im pretty happy.

9/17/2008 4:26:27 PM

Looks like it's time to head for the hills, guys...

Glad my family has a farm and some land to hunt.

9/17/2008 5:02:37 PM

The Primary Fund broke the buck!

http://consumerist.com/5051132/signs-of-the-apocalypse-even-money-market-funds-are-losing-money

9/17/2008 5:15:30 PM

DOWned

9/17/2008 5:39:08 PM

damn I bet inflation is going to sky rocket (already around 5% on the year) in the next year or so. Especially if the Fed cuts rates again.

So much debt, so little printed money.

9/17/2008 5:42:36 PM

They left rates alone yesterday.

No rate cuts to speak of. Believe it or not, they're still more concerned about inflation than about this mess.

9/17/2008 6:03:55 PM

^^ uh, not to mention the billions in credit they are creating for bail outs (= printing money). Bailouts are supposed to be near a trillion, now. Also,


Market pwnt


Go home

[Edited on September 17, 2008 at 6:18 PM. Reason : .]

9/17/2008 6:17:01 PM

Anybody watching the foreign markets?

Shit's going down tomorrow...

9/18/2008 12:25:02 AM

Morgan Stanley to be bought by Wachovia
Goldman going down next, too stubborn/proud to merge with a commercial bank

9/18/2008 6:46:39 AM

who's 401k is winning?

Quote :

"Your Portfolio's Rate of Return For the period (01/01/2008 - 09/17/2008) -26.72%"

[Edited on September 18, 2008 at 7:02 AM. Reason : we]

9/18/2008 7:01:30 AM

If gold keeps rising that is going to help offset a lot of other things in my portfolio thanks to my position in AUY.

9/18/2008 9:11:32 AM

In your face Ben.

Personal Rate of Return from 01/01/2008 to 09/17/2008 is -21.1%

9/18/2008 10:05:07 AM

don't you use scottrade? how'd you get it to compute that?

9/18/2008 10:14:55 AM

Not for my 401K. That is through Fidelity.

9/18/2008 10:39:45 AM

ah ok

9/18/2008 10:45:16 AM

Gainskeeper is awful. Why the hell can't I select a time period for unrealized positions?

9/18/2008 10:48:08 AM

WACHOVIA CP
(NYSE: WB)

NEW Real-time: 13.62 Up 4.50 (49.34%) 3:56pm ET

the street likes the RTCish plan very much. WaMu is also up big time.

9/18/2008 3:58:51 PM