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Posted: 8/23/2001 6:45:15 PM EDT
Since the first part of March 2000, I've lost close to $180,000.00 or about 90% of my investments. Technology and margin were killers. I've never seen a Nasdaq decline like this one. Hopefully it will pick up one of these days.
Link Posted: 8/23/2001 6:50:17 PM EDT
Originally Posted By musicman: I've lost close to $180,000.00 or about 90% of my investments.
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Whoa! That's a load. My IRA stuff (mostly aggressive growth mutual funds) are down about 28% from two years ago. My other investments I've moved to money markets.
Link Posted: 8/23/2001 6:52:59 PM EDT
Wow, thats a lot. I've lost a lot but not near that. I could have sold most of my holdings and purchased my land I was talking about. OR at least put down a nice down payment. It will eventually pickup but it will take years...
Link Posted: 8/23/2001 9:58:54 PM EDT
I lost my job, the GAW, and soon my dignity, all due to a FDCGH.
Link Posted: 8/23/2001 10:03:18 PM EDT
[Last Edit: 8/23/2001 10:04:43 PM EDT by raven]
I'm doing better in this crap market than i did in the boom market, percentage-wise. Learned how to trade and manage my money. Was up as high as 327% in May, cashed out at 70% this month. Getting my capital together right now to get back into the market. I made spectacular gains in 1999 and 2000, but my losses were equally breathtaking. I've learned a lot about trading this year.
Link Posted: 8/23/2001 10:06:31 PM EDT
None, to much of a gamble. [whacko]
Link Posted: 8/23/2001 10:19:41 PM EDT
I didn't really loose anything in last 2 years but my stock option at work took a beating.
Link Posted: 8/23/2001 10:38:30 PM EDT
Enough!, I'm changing jobs, cashing in my shares.
Link Posted: 8/23/2001 10:42:20 PM EDT
Originally Posted By yobo: I didn't really loose anything in last 2 years but my stock option at work took a beating.
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My options went from a high of $65 to .24 [>Q]
Link Posted: 8/24/2001 4:26:40 AM EDT
I talked a friend into buying some Iridium when it first came out. He wound up losing $30,000.
Link Posted: 8/24/2001 4:43:29 AM EDT
Nothing. In order to lose I'd have had to sell. All my investments are in blue chips in my 401(k) anyhow. It hasn't gained, but hasn't lost either. I can't touch it for 30+ years anyhow...
Link Posted: 8/24/2001 5:35:05 AM EDT
Originally Posted By Bubbles: Nothing. In order to lose I'd have had to sell
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Exactly! If you haven't sold, you haven't lost a penny. My stock has taken a beating, but I thoroughly expect it to go back up.
Link Posted: 8/24/2001 5:35:50 AM EDT
Well,year 2000 was not good. Annuity return was 0% --IRA return was O%-- Mutual Funds in Nasdaq last time i checked were down a couple of thousand. My wife's 401K is in Nasdaq and it's down thousands also! I still firmly believe the decline in nasdaq can be traced to the day the clinton administration announced their suit against Microsoft. Just have to love them liberal coc$$#@kers!!!Ben
Link Posted: 8/24/2001 5:37:03 AM EDT
I would rather not think about it as it brings tears to my eyes, but figure along the lines that it could have purchased 2 each of the following full autos with the money and still have plenty to purchase some ammo: M-60 Colt Thompson M-16 1919
Link Posted: 8/24/2001 5:43:01 AM EDT
Originally Posted By EX-RAIL: I still firmly believe the decline in nasdaq can be traced to the day the clinton administration announced their suit against Microsoft. Just have to love them liberal coc$$#@kers!!!Ben
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I and several friends believe this is the case also. Don't you love that they wanted to punish a company that has done the most to make computers user friendly and compatible with the net. Before someone starts bemoaning the toes that got stepped on by Gates, SO WHAT!! If those other products that supposedly got 'squashed' were any good, they would have made it anyway.
Link Posted: 8/24/2001 5:45:21 AM EDT
Who in their right mind would sell in this market? I have lost Zero.
Link Posted: 8/24/2001 6:13:56 AM EDT
LARRYG, I was watching the market very closely at the time the suit against Microsoft was announced. The coincidence of the downturn in the market just so happens to have been the day of the Microsoft suit. I find it hard to believe how little coverage this has generated! All us little people with our lifes savings tied up in IRA's & 401K's that will wait years to recoup the losses from this bungled mess,is staggering. I know people that have to put off retirement because of this fiasco. I do agree it's not a loss until you sell,but what a kick in the ass for the short term. Ben
Link Posted: 8/24/2001 6:19:37 AM EDT
Hielo got that right. However, I can seriously and honestly say that even if I sold in this market I still would make money. Matter of fact being un-employed I have been dipping into it a lil at a time. As I am sure any of you guy that have had conservative investments for over 3yrs., If you look at your cost basis you should have some gains.
Link Posted: 8/24/2001 6:24:22 AM EDT
Link Posted: 8/24/2001 6:25:01 AM EDT
On paper it looks to be about 140k so I refer to my IRA as just an I now. However, this has caused me to go on major gun buying spree under the guise of diversification. [:D]
Link Posted: 8/24/2001 6:38:53 AM EDT
Originally Posted By hielo: Who in their right mind would sell in this market?
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Only old widowed pensioners like my mother! She's required by law to sell so much per year. And she depends upon selling some beyond that too. Gee, Thanks Mr. Clinton! You've done so much good for everyone breaking up that evil monopoly![puke]
Link Posted: 8/24/2001 7:00:58 AM EDT
While it doesn't compare to musicman's loss...I am down quite a bit (and that's just in my NON 401K monies). Technically I haven't lost anything, because I haven't sold my stocks. But the valuation of my holdings is quite down...all NASDAQ stocks at that. Here's the oldest lesson in the stock market: You don't MAKE any money or LOSE any money if you don't sell.
Link Posted: 8/24/2001 7:07:18 AM EDT
Don't EVEN get me started !!!!! Jay Arizona
Link Posted: 8/24/2001 7:50:45 AM EDT
Ditto on not selling! But my 401k is down to $135k and last summer it was over a quarter million! Doh! But I'm in for the long term. It will bounce back.
Link Posted: 8/24/2001 7:57:07 AM EDT
Originally Posted By JThompson: I would rather not think about it as it brings tears to my eyes, but figure along the lines that it could have purchased 2 each of the following full autos with the money and still have plenty to purchase some ammo: M-60 Colt Thompson M-16 1919
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Smart man. I did the same thing. Cashed profits in July of 2000 and bought a nice Colt M16A1. I don't see the market volatility in machine guns.
Link Posted: 8/24/2001 7:59:48 AM EDT
Haven't sold for a loss yet, but from the high... down about $250M dollars, or -10%
Link Posted: 8/24/2001 8:05:15 AM EDT
Pretty much staying even (and thus not going anywhere). Guess I better make some changes. [:\] Tyler
Link Posted: 8/24/2001 8:10:37 AM EDT
Tyler, your a kid right? (forgive me if I am mistaken...) but there is no need to churn your account. This is the time to buy, not sell. Buy until it hurts! Squeeze every last dolalr you can scrape up and dump it into your favorite stock that has tanked. You are going to be holding for 20 years or so anyway, but it now whiel tere are bargains laying all over the place. BUY!
Link Posted: 8/24/2001 8:19:43 AM EDT
I havn't lost much value, but I am buying like a maniac. Geez, 2001 stocks at 1998 prices!!! what could be better. I don't sell a good stock, so I don't lose- except on paper.
Link Posted: 8/24/2001 8:24:18 AM EDT
Originally Posted By hielo: Tyler, your a kid right? (forgive me if I am mistaken...) but there is no need to churn your account. This is the time to buy, not sell. Buy until it hurts! Squeeze every last dolalr you can scrape up and dump it into your favorite stock that has tanked. You are going to be holding for 20 years or so anyway, but it now whiel tere are bargains laying all over the place. BUY!
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I am a couple years older than you - but I am new to this game. Thanks for the advice (feel free to offer more) [:)] Tyler
Link Posted: 8/24/2001 8:46:26 AM EDT
While you're buying up bargains, you might want to take a lesson from the guys who lost 50+% of their investment and diversify your portfolio. Just a thought...
Link Posted: 8/24/2001 9:40:36 AM EDT
Sorry Tyler, no offense was meant. As to diversification, that is always a good gamble, but I am in it for the long haul, and invest almost every stray cent I get. I like to buy stocks of companies whose products I like and use, so far it has worked out quite well for me. I am soooooo tempted to buy up lucent right now, though every single thing I read tells me I shouldn't. I look at their stable of patents and know what it is worth, I just can't see them actually going under. But then I come to my senses and buy up my tried and true stabe that has been performing quite well (averaged 14% in the past year).
Link Posted: 8/24/2001 10:14:38 AM EDT
Luscent was just over 18 this morning. It's a deal compared to 99-00 prices, but it will probably be many years before it ever gets near 100 again. I agree completely what was stated earlier about the crash beginning the day Justice (RENO) went after MS. The 90s was the economy MICROSOFT built. Bill GATES, NOT Bill Clinton. The only thing I could figure out as to why they were doing it was that Bill Gates wouldn't give Clinton enough payoff.
Link Posted: 8/24/2001 10:20:34 AM EDT
No offense taken hielo. I haven't gotten out of the Tech stocks yet (I know, that's bad). Being a Microsoft Certified Systems Engineer (W2K) I still like my Microsoft stocks. Since Bill (Gates) deals with the Devil, I have made money with Microsoft. I need more diversity other than tech stocks - I just am not that knowledgeable about what all is "out there" Tyler
Link Posted: 8/24/2001 10:29:49 AM EDT
Wow, some of you guys have lost entire houses. I only lost a couple of new cars. And most of that, really, was "paper" loss, where a stock skyrocketed before tanking again; my net loss is probably only a car or two. Are we allowed to pump our favorite investments?? I have one that I think is going to make it big. If it doesn't, I'm screwed, but I fully believe it will.
Link Posted: 8/24/2001 10:56:51 AM EDT
[Last Edit: 8/24/2001 11:05:31 AM EDT by ar50troll]
I was not going to post here fo fear of getting everyone pissed off, but the thread keeps on going. I am sorry you guys lost out. I made a ton, right before the bubble burst in October I got out. I work in the financial world and saw it coming a mile away. I am sorry fo all you guys who listened to your broker while he saved his ass. Between Quallcomm, Juniper, Cisco, and Compaq I netted over $250K in 2000. The DSL providers(many of whom are now bankrupt) were also a great source of income for about 9 months in 2000. I made over $15K in Northpoint DSL in less than 3 hours! Now there penny stock, long ago delisted. Remember, if your gonna trade technologies, pay damn close attention to what is going on and NEVER, NEVER rely on your broker, he is going to take care of himself long before he takes care of you! If your going to dick with tech stocks and NASDAQ be prepared to move your stuff around regularly. Don't fall in love with any particular stock. If you make 10 or 15 points on it, SELL IT. Sorry to hear so many of you Pro GUnners had trouble. PS. I would stay away from Lucent for now. not the best idea in the world. If you REALLY think they will bounce back, look me up in 5 years and we will have a chuckle over the "former" Lucent Technologies. Do your homework about Avaya before you think Lucent is a "BUY". AR50Troll
Link Posted: 8/24/2001 8:21:34 PM EDT
I got out five months before the top and did good. Left some money on the table but, oh well. Had to pay big time capitol gains. Alt. min. tax also. We could hit the final bottom sometime between now and new years. Then begin the climb back up. How will you know the bottom? Remember it is always darkest before the dawn. When it looks the worst, buy. Stay away from the sucker rallies. The impending all out war in the Middle east may be the trigger. If you havn't sold yet hang in there. Better days are a comming.[beer]
Link Posted: 8/24/2001 8:25:38 PM EDT
Now is the time to buy, not sell. I haven't sold anything in over a year, but I bought some stock in Gateway the day before yesterday when it reached its most recent 52 week low.
Link Posted: 8/24/2001 8:57:18 PM EDT
Try to keep a balance aggressive?conservative, 60%stocks, 40mmf, still down probably 20%. But, try not to even look at my monthly statements all that much, in it for the long haul at my age.
Link Posted: 8/24/2001 10:56:52 PM EDT
I lost EVERYTHING a little over a Year ago. Been saving like crazy since then. Am going to stay out of the market for quite awhile and just squeeze every nickel and dime out of my paychecks that I can.
Link Posted: 8/24/2001 11:01:34 PM EDT
[Last Edit: 8/24/2001 11:14:17 PM EDT by raven]
"It's not a loss until you sell" I hear this and am dumbfounded. Do you sincerely think your crappy dotcoms or Lucent stock is going to approach even 25% of the price you bought it? Once a stock loses 8% of its value from where you bought it, the odds are it'll just continue losing. You should never, ever meet margin calls either. If you bought a stock at $100 that is now at $10, it lost 90% of it's value. But it will have to appreciate 900% to get back to where it was when you bought it. Think about it. The best thing to do is sell once your positions start losing more than 8-10%. Minimize your loss. Sell out your devalued positions so you can put the money to work in stocks that have a future.
Link Posted: 8/26/2001 10:37:59 PM EDT
I've been doing about 30% percent so far for this year. Would have done better but its hard to keep track of 9000+ stocks in the major markets. Most of the time I seem to find stocks that are going on the computer seem to be trending up only to go into a congestion (non trending) phase. Its very frustrating since the money sits there so long only to be stopped out at a later date.
Link Posted: 8/26/2001 10:42:07 PM EDT
-about $700. not much, but it still hurt. My next investment will be land. All you "long term" investors, keep in mind that long term could be 50 years.
Link Posted: 8/26/2001 11:24:33 PM EDT
Originally Posted By musicman: Since the first part of March 2000, I've lost close to $180,000.00 or about 90% of my investments. Technology and margin were killers. I've never seen a Nasdaq decline like this one. Hopefully it will pick up one of these days.
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Got me beat by some. I sat down a couple of weeks ago and figure it out to be just about what two 2001 corvette conv.with all the toys would have cost me. mmk
Link Posted: 8/27/2001 4:13:06 PM EDT
Originally Posted By Bubbles: . . . In order to lose I'd have had to sell. . .
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On a roller coaster, the only ones hurt are those who jump off. Agree with raven, about bailing sooner. Could've only lost 20% instead of more. . . 20/20 hindsight.
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