I don't gamble, but can I buy shares?
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| Author | Content |
|---|---|
| TxtEdMacs Apr 01, 2009 10:17 AM EDT |
Seems like a Win - Win* to me. I roll the suckers legally. YBT * definition: in the Windows and out the Windows before the alarm sounds |
| softwarejanitor Apr 01, 2009 12:58 PM EDT |
Investing = Gambling... Especially in today's markets... |
| TxtEdMacs Apr 01, 2009 1:34 PM EDT |
Well swjan, place your bet and I take a share whether you win or lose. That's business, the kind I like. The only one better is banking. That is, Banker wins, "I made a fortune today, because I am super smart"; Banker loses, "I lost a bundle, but have no fear I will be bailed out, because I am part of the elite that cannot be allowed to fail". I only wish it were a joke. YBT |
| softwarejanitor Apr 01, 2009 4:28 PM EDT |
Banks aren't a safe bet either. The only stock I currently own is Wells Fargo. I used to work there. My shares are now worth a fraction of what I paid for them back in the 1990s. I'd be more upset if I hadn't gotten a bit of dividends from it over the years. I do kick myself for not selling a year or two ago when it was at $50+ a share. I think Wells Fargo wouldn't have taken such a beating if they hadn't bought Wachovia which looks to have been a bad buy. At one time I also owned stock in a previous employer, but after I left there they went Chapter 11 and then went private, completely devaluing the old common stock. C'Est La Vie. My 401k is now worth less than 1/2 what it was a year ago. I'd be more upset if I'd put any of that money there (what is there was contributed by my employer) -- I chose not to participate in contributing towards it because I had no faith in the market... and unfortunately it has turned out to be a good idea. I'd have withdrawn the money and taken the penalty except my employer has rules that completely prohibit withdrawals unless you qualify for a "hardship". Anyway, I'm not much of a gambler either... |
| TxtEdMacs Apr 01, 2009 5:47 PM EDT |
I do not wish to make light of your pain. However, when I talked of bankers I meant the top honchos that get top pay and retention bonuses even as the flee the destruction they wrought. Right now the system is rigged for those with connections, I remember too well seeing a V.P. devoid of any talent land on his feet when pushed aside. The only logical explanation I could ascribe to his imperviousness to failure was he had friends. On losses, mine are down by the same percentage. However, it was all my cash that went into those accounts. So I understand too well. By the way, most of what I write in the comment threads is not to be taken literally (an understatement), those that know my alias probably automatically apply a weak humor or ignore tag. You are now properly forewarned. Your Buddy Txt. (aka YBT) |
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