Dow closes +141.53, up +950.92 for the week ending 10.31.08
Yeah, right - biggest weekly gain since 1974, after the greatest losses in the history of the world. Now I’m down just 300K for the year. Everything’s peachy keen.
Yep. DH is looking at switching jobs, and thanks to the stock market has lost all of the employer contribution to his 401k (three years worth) and then some. We would have been better off declining the 401k and putting the money in bank savings. If we didn’t have to worry about a massive tax hit, I’d do just that. I wonder how much my mom’s 401k lost before she lost her job three weeks ago.
I really feel sorry that you could not put some money with a global macro competent manager that can use short positions (not available though any mutual fund) and exploit opportunities around the world through aggressive currency speculation, bond market plays, positions in commodity markets, and shorting equities in extremely vulnerable global markets. I think it would be well worth the 2 and 20.
My only consolation is knowing that George Soros may be up this year. (I know that if he held his long positions in his equity portfolio that were reported in 6/30/08, he would lose a lot of money as most of it was in energy and basic materials. I think he dumped those positions when he shorted oil at $138.)
I hope Soros is the biggest winner in this.
Don’t kid yourself, the big one is yet to come.
And I regret that most people on this forum will not take short positions to take advantage of it.
Do you mean up or down? :hmmm:
I mean, “NON EXISTANT”!!
How’s the stock market doing this week?