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The Market Thread Got Me Thinking...

monkeyswrench

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Specifically @shintoooo 's post about investment brokers and such taking a header after losing "everything" in 08. Most here are in the more solid "upper middle-class", or some reasonably close facsimile there of. I'm not...at least not anymore. In 08, people lost big, but it took some time to trickle down to me. In '10, it was over for me. It had been a slide, but the bottom for me was then.

Losing "everything" as a percentage based outlook is different for people. Some here could lose a million, and be pissed off. If I lost a million, I'd owe quite a bit for quite some time. Totality of loss though, is the same. Finding yourself at a zero point, a bit different than heavy losses. It's not about landing on your feet, it's about getting back up after landing flat on your back, in a hole.
Either you can lay there, and wait for someone to cover you, or you can get up.

When you're at the bottom, there's only one way to go, up.



Today is Friday the 13th of May. For me, a real important date, a turning point. This is the third time since 05 that the calendar has lined up like this. I didn't give up in 05 when most figured I would. When I lost everything in 10, I knew that "everything" wasn't much of anything...I was still there to make something happen.

In the coming weeks or months, some here may lose some money. Others may make some. In the end, loss nor gain effects the fact we are mortal. Spend your time more wisely than your money. Money comes and goes, but time is the only thing we are given, and the only thing we can't get more of.

Enough with my meandering thoughts. Have great day! I'm off to weld something, or hit something with a hammer...hell, maybe both!
 

shintoooo

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we-spend-our-lives-chasing-money-but-money-is-less-valuable-than-life-1541732968.jpg
 

MPHSystems

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Specifically @shintoooo 's post about investment brokers and such taking a header after losing "everything" in 08. Most here are in the more solid "upper middle-class", or some reasonably close facsimile there of. I'm not...at least not anymore. In 08, people lost big, but it took some time to trickle down to me. In '10, it was over for me. It had been a slide, but the bottom for me was then.

Losing "everything" as a percentage based outlook is different for people. Some here could lose a million, and be pissed off. If I lost a million, I'd owe quite a bit for quite some time. Totality of loss though, is the same. Finding yourself at a zero point, a bit different than heavy losses. It's not about landing on your feet, it's about getting back up after landing flat on your back, in a hole.
Either you can lay there, and wait for someone to cover you, or you can get up.

When you're at the bottom, there's only one way to go, up.



Today is Friday the 13th of May. For me, a real important date, a turning point. This is the third time since 05 that the calendar has lined up like this. I didn't give up in 05 when most figured I would. When I lost everything in 10, I knew that "everything" wasn't much of anything...I was still there to make something happen.

In the coming weeks or months, some here may lose some money. Others may make some. In the end, loss nor gain effects the fact we are mortal. Spend your time more wisely than your money. Money comes and goes, but time is the only thing we are given, and the only thing we can't get more of.

Enough with my meandering thoughts. Have great day! I'm off to weld something, or hit something with a hammer...hell, maybe both!
First: It’s been established that I am low class.


I think the people who “took a header” were already unbalanced before they “lost it all”. IME, people who were unethical on their way up hit harder when they fall. Ethical people take a hit, take a moment to dust themselves off and start climbing again.
 

ltbaney1

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id like to think im set up pretty well to weather the storm i think is coming, more importantly to me, my wife and kids are set. if i get nocked down, it wont be the first and im sure it wont be the last.
 

rivrrts429

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You can give up
You can give in
... or you can give it all you got.

I’m not concerned with what may, or may not, be on the horizon. I’m at my best when I’m up against a wall regardless. I’ve sold off just about everything except the house. Some of the sell off was because I wanted to be prepared and some of it was forced when my marriage unexpectedly desolved. Either way I’m more confident today than I’ve ever been. Perspective is a powerful motivator.
 

badgas

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Losing ?

In real estate you " Lose Everything " when you have too much debt and can't afford the payments and the courts take the property.

In the stock market you " lose everything" when you are 100% invested in Enron. You lose " 1/2 of everything " when you panic and sell stocks after a correction or crash.

You make money in the market when you stay on the roller coaster.



Some good wisdom from buffet on the market

“If you aren’t willing to own a stock for 10 years, don’t even think about owning it for 10 minutes.”​


“Our favorite holding period is forever.”​


“The most important quality for an investor is temperament, not intellect.”​


“Forecasts may tell you a great deal about the forecaster; they tell you nothing about the future.”​


“The stock market is a device for transferring money from the impatient to the patient"​

 

nameisbond

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My dad was a stock broker from 74 till 02. He was more of a hedge fund manager, before it became a thing. He also did corporate finance as a side gig to his trading. He's an expert at short selling. He was short 87, dot.com bust and even the financial crisis. A few of his past clients still in contact for financial advice.

Most stock brokers are not really traders. Lots of guys in his office in those crashes, lost big. No suicides though. One guy in his office lost $12 million in the dot.com bust and was fired. He went back to teaching.
 

zhandfull

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I’ve learned timing is everything. Some here on this site cannot even imagine losing one year of equity gains. If it plays out like I’m thinking they may lose 3 or 4 years of gains. Time will tell and I have been wrong before.😁
 

lbhsbz

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If all your wealth can disappear in an instant such that you have none, then you never had shit to begin with.
 

grumpy88

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Specifically @shintoooo 's post about investment brokers and such taking a header after losing "everything" in 08. Most here are in the more solid "upper middle-class", or some reasonably close facsimile there of. I'm not...at least not anymore. In 08, people lost big, but it took some time to trickle down to me. In '10, it was over for me. It had been a slide, but the bottom for me was then.

Losing "everything" as a percentage based outlook is different for people. Some here could lose a million, and be pissed off. If I lost a million, I'd owe quite a bit for quite some time. Totality of loss though, is the same. Finding yourself at a zero point, a bit different than heavy losses. It's not about landing on your feet, it's about getting back up after landing flat on your back, in a hole.
Either you can lay there, and wait for someone to cover you, or you can get up.

When you're at the bottom, there's only one way to go, up.



Today is Friday the 13th of May. For me, a real important date, a turning point. This is the third time since 05 that the calendar has lined up like this. I didn't give up in 05 when most figured I would. When I lost everything in 10, I knew that "everything" wasn't much of anything...I was still there to make something happen.

In the coming weeks or months, some here may lose some money. Others may make some. In the end, loss nor gain effects the fact we are mortal. Spend your time more wisely than your money. Money comes and goes, but time is the only thing we are given, and the only thing we can't get more of.

Enough with my meandering thoughts. Have great day! I'm off to weld something, or hit something with a hammer...hell, maybe both!
I agree with what you say but its easier said then done for me . On the subject you lived it and did it . I completely agree with you on what is truely important in life . I wish i had your strength but i dont .
 

monkeyswrench

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I agree with what you say but its easier said then done for me . On the subject you lived it and did it . I completely agree with you on what is truely important in life . I wish i had your strength but i dont .
I don't know if it's a strength thing. Physically, surely not. Mentally? Maybe...but I know at times I'd felt like those that took the header. Failure is supposed to be how we learn, not what we feel. As long as my kids have a home and food, I haven't failed. I haven't been able to watch my bank account grow, but I've been able to watch my kids grow. A fair trade I think, not knowing tomorrow's tests.
 

PaPaG

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Warren Buffets says “ When the tide goes out, it’s easy to see who’s wearing a bathing suit”
😉
Great saying by the greatest and most successful investor of all time. Back in 95 I thought WHO IN THEIR RIGHT MIND would pay 30k for 1 share of BK stock, now at 465,000 per share I wish it was me...
 
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