I have lost 25% of one of my two investments that I set a side for my golden years, thank goodness ........... :cam:

[General Ray]

the bulk investment ( the second one ) is in a CD, the banks got greedy, the building industry got greedy and Washington got greedy!

I have a good friend who has been in the building trades for almost 50 years and he told me 4 years ago, Ray, when the building bubble bust and it will the banks will fail one by one because they are making loans to people and builder's that not only can't afford the home they just built they are also having their home built by a builder who over price his home from the start all in the name of greed, he was dead right !!!!

The builder goes to the bank and says this home will sell for this price, lend me the money to build it, it's a great market right now, I make money and you make money Mr. Bank man plus the home owner gets their home, please approve their loan and everybody wins, you the bank, the home owner and me for building the house

Problem starts when the bank over looks some issues that should have rised a red flag like the home owners don't make enough money to pay for the half a million dollar house that was over priced in the first place and still feed their familys!

Then the banks decided to go for the gold while the fish were biting and give credit for home loans on older homes also ( That were over priced also to folks who couldn't make the payments ), why take a bite when you can have the whole pie, greed sets in here for the banks because everybody is happy and the housing market is great, lets go for it and make money, push those apps through and hand them folks the keys to their new front doors

My friend Gordy was right and at the time I didn't think much about it four years ago but did two years ago as work started to slow down abit, thats why I am in Alabama now and not in a dead housing market in Wisconsin and like in most of the rest of the country

Now I build pallets for Craig and feel much better about my future be it I am heading for home base and those golden years because believe it or not, the world still moves on pallets and some body has to build them and Miller Lumber Company does and I work their, I made the right move at the right time and will start to keep my money under my pillow instead of investing into the market of greed, the Stock Market were CEO'S get paid but not the investors

My friend Gordy

http://i229.photobucket.com/albums/ee238/Ray1954_photo/P6160063_2.jpg

And the truck I could have bought with the 25% lost in the market and still going up, fuff those pillows folks and lock and load

http://i229.photobucket.com/albums/ee238/Ray1954_photo/P6150061.jpg

 

[Ed SW Fla]

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[General Ray]

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[charlie (ky)]

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[Craig in Alabama]

I'll just go over to your place and look under yer pillow

 

[General Ray]

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[Craig in Alabama]

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[General Ray]

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[therick]

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[charlie (ky)]

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[Brian(upstateNY)]

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[Ed SW Fla]

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[Ed SW Fla]

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[Craig in Alabama]

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[Elson(La)]

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[Elson(La)]

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[General Ray]

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[BobinMIZZU]

1). What you pay for them. 2.) What you sell them for. What happens in the interim "don't mean doodley squat". The worst mistake is to pull out and sell when the market is low. People don't panic and sell their house just because property values decline. Makes no sense to do it with stocks either.

 

[General Ray]

low and sell high is how it's done but anymore there are no guarantees that when they go down they will go back up and at some point you have to say when will the bleeding stop, do I leave it or pull it.

Case in point is Elsons friend, will he recover the $200.000 he just lost in the market and should he just ride it out and risk what is left trying to recover the $200.000, I can't blame anyone for jumping out after watching their hard earn earnings flushed down the toilet.

If Elson's friend put the $200.000 he just lost in a CD at 4% for 6 months it would have earn $4040.00

That saying that you are in it for the long run only applies to the younger folks who invest in the market, us older folks have to be more careful and watch it close or like Elsons friend it will be gone in a flash with the age factor playing a major role if there's time for it to rebound.

I may be wrong here Bob but one thing is for sure, a lot of older folks are nervous because they are not just watching their investments go down a little at a time they are being wiped out in some cases, sure hope it turns around because those golden years won't be so golden for a whole lot of folks :sad:.

Good subject I think, lots of different views

 

[Fred (S. Indiana)]

Start with a large fortune...........