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Don't worry, it's a dead cat bounce.
About 2 months ago I became aware of a total freaking aberration due to the market collapse...
A dividend/income mutual fund that was paying a near 30% annual return paid out monthly at it's then current trading price...
Needless to say this is a phenomenal return on your money, and where every spare dime you have should be going as long as it was trading at the price it was trading at...I mean even if they lower the dividend, you have a long way to go before this becomes a bad investment...add in the fact that it was trading $20 below the price it was meant to trade at, a loss it was likely to regain as soon as the market calmed down...and you just can't get a better investment than this...
I threw every ing spare penny I could come up with into this fund while it was trading at that price...
My problem? Orice didn't stay down long enough for me to get more than a few thousdand into it. The price on the fund has now gone up 3 bucks a share and it is no longer a 25%+ dividend return when bought at it's current price, it is now only a 17%...locked in(barring lowering the dividend), which is still incredible by most market standards for an income fund...but not better than paying off most of my credit cards...which is a good return but only until the cards are paid off...whereas this fund has the potential for a lifetime 25%+ return at the price I was buying it at...and that's not taking into account the price of the shares going back up to their rightful trading price(which will be about a 200% return...)
Not only that but I was also plunging into Ford and now asshole copycats have driven that up to where it's no longer a no lose investment.
You assholes need to stop buying back into the market and driving prices up...it needs to stay down a while longer.
You
All
Don't worry, it's a dead cat bounce.
Buy!! Buy!! Buy!!!
I wonder how much Ford has raised in capital from people buying their stock. They look to be sitting fairly pretty with all the GM and Chrysler are going through.
It sucks ass...my Ford is up about 200% since the 2 months I first started buying it...worst ing news ever...er second worst...That stupid mutual fund is up about 30%in the same amount of time...I hate assholes that cause like this to happen. Obama needs to stick his stupid speeches and optimism up his ing ass.
IMHO, you should be sticking your own bad investing decisions up your ass. I'm doing quite well but then I'm no idiot.
I bought Dow Chemical and it's up over 100%. I'm going to use the gains to buy weed.
I get what Whottt is saying. It's pretty funny how people are turning very bad news (a ton of unemployment, for example) into good news ("Hey, it's not as BAD as we thought it would be!") and just diving back in.
Goes to show you how psychological and irrational the market is.
I still don't see how that's bad news for you, whottt. Stop being greedy, you're already ahead.
Save people. Just save. Get a safety deposit box or a safe if you think ur bank will just fold one day.
If the FDIC collapses will all that money you put in the safe be worth anything?
Are u related to Debbie Downer
Damn....how much in credit card debt do you have?but not better than paying off most of my credit cards.
Not much about 8 or 9 k probably most of them carrying around a 21% interest rate...the mutual fund is probably still a better return even at 17% given that they are almost certainly going to go up in price by about 200%...but that's not a certainty, whereas that -21% loss indefinitely is until I pay those cards off.
I could default since the balances are all small enough to where I won't get prosecuted, and was actually planning on doing that from the beginning but things changed...I found some stuf I want to buy and I don't feel like waiting 7 years to buy.
It's just pisses me off that the share prices are going up more quickly than I want them too...whereas if you want them too they take forever. I was enjoying the irony of this counter intuitive strategy...I'm not enjoying this irony. It's pretty much a no lose scenario but I still feel unlucky because I am getting the lesser of two positives.
...stop paying them and settle for about 30-40% of the balance in about 3 months....your credit score will only suffer for about 1-2 years...
That's not a bad strategy, I also thought about getting the loans I want then defaulting on my cards...but nah, the main card I would default on is actually a pretty good one for airline miles and hotel points and it's an American Express Card and they never expunge their inhouse credit records.
Also, every thing I am looking to buy is cheap now(mainly some land and an RV) but it might not be in 3 years.
I think I'll just stick to the straight narrow this time around as boring as that may be...I just hope the market stays dynamic(up or down I don't care) and doesn't stagnate, as long as that happens these sorts of aberrant investments will keep popping up, although I doubt I ever see a no lose investment like this mutual fund again in my lifetime...pity it was only available in the optimum situation for 2 months or so.
If you're worried about the government and our financial system collapsing, wouldn't it be wise to invest in something that has real value instead of having a bunch of paper locked away? Our economy is basically faith-based since our dollar isn't backed by anything tangible, so what do you think is going to happen to it if confidence is shot by something as devastating as the FDIC failing?
..you know Amex once canceled my credit just because I paid off my card balance in full! Idiots!it's an American Express Card
Land and water rights...If you're worried about the government and our financial system collapsing, wouldn't it be wise to invest in something that has real value
yeah they are funky like that. My Mom started paying off her balance and they got pissed off and dropped her limit bigtime while upping her interest rate. But this card I got gives you airline miles and hotel points for the same purchases...it's actually a really good deal and the interest rate is a typical one.
i am just saying save ur money. if u are worried about a particluar bank change or throw the cash in a safe spot. thats all.
Thanks for buying my new "prison sex" fund, whottt. The returns should stay good...for a while, anyway.
Could we be experiencing another great selloff?
Whottt and esmegmal, get your funds ready
I bought some C at $4.Could we be experiencing another great selloff?
Whottt and esmegmal, get your funds ready
Otherwise, I have some additinal liquidity to put to work . . .
Ehhh, 4? That seems a bit high brehI bought some C at $4.
Otherwise, I have some additinal liquidity to put to work . . .
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