Kramer Says Sell - Doom Time
- Thread starter Wesley
- Start date
Lehman Brothers bankruptcy has resulted in a sale for $2 of all assets in their European group to Nomura of Japan. Looks like $2 buys you a lot of paper and Europe may be ready for some bombshells also. Ameritrade Primary Money Markets through another party associated with Lehmans was infused with $50M from Ameritrade since money markets funds were frozen for 35000 of their customers after selling for 97 cents to the dollar this week. $2.5 Trillion sits in money markets. Many people are now moving this to treasuries their money market funds that they plan to retire with.....
Short selling is null and void on 800 financial firms but the pensions and major capital groups are now selling out some of the stocks such as Wachovia and of course WaMu, $350B bank failure sold to JP Morgan this morning. The debate will go on about foreign policy. Suspect we will not hear about foreign policy tonight from ole Miss.
Short selling is null and void on 800 financial firms but the pensions and major capital groups are now selling out some of the stocks such as Wachovia and of course WaMu, $350B bank failure sold to JP Morgan this morning. The debate will go on about foreign policy. Suspect we will not hear about foreign policy tonight from ole Miss.
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Best idea I have heard in days. I think I will leave work early and get a start on that.
That advice is better than the WE'RE ALL DOOMED MESSAGE cramer is spouting out.
This market falloff is a God Send for anyone just starting their career (as long as you're already employed). If you're a long term investor and not a short term trader you're getting huge "discounts" in the markets right now. This is the perfect time to dump loads of cash into your 401 K unless you're near retirement in which case you shouldn't have much stock in your portfolio anyway if you know what you're doing.
Cramer's advice to Sell now is the worst thing you can possibly do as a long term investor! You haven't actually lost any money until you sell and realize the loss or the Company goes under entirely. If you have 5 years you can go without the money in your portfolio I'd be willing to put money on the fact that a market reflecting fund will make up more than it's lost this past 5 months.
