Silver Spike!

Thats the truth. Any time theyre massive sell offs like that you can get great deals. Most of the major fund managers do the vast majority of their buying in times like that. Theres still some companies that havent even come remotely close to their 08 levels. AIG comes to mind, about 34 right now used to trade at 1500. Will it ever get back to 1500 probably not, but if it gets even remotely close to spitting distance a minimal investment in it pays off huge.

AIG is one of those toxic assets that are unlikely to ever produce the results that its shareholders desire. It went from $35 a share to practically zero before the government stepped in and orchestrated a $180B financial life preserver for them. That raised their share price to around $2. They then did a reverse split to get their share price back into the $30s. Saddled with the debt that they have makes it difficult for them to pay that off and pay their shareholders via a rising share price or strong dividends. Sorry for the rant. Can you tell I used to own some AIG shares?

Thanks, BB21. Yeah, it may have been a psychological game that I played on myself but it worked to keep me invested when others were throwing in the towel, selling everything they owned that was down in price, and converting those paper losses into REAL losses.



That was where I had some really good luck. I worked for an excellent company. They matched us with 3% in cash or 6% in company stock. I took the stock and it worked out REAL well. We also got a separate 4% contribution to our 401k plan as a replacement for the pension plan that we had early on that was replaced by the 401k plan. Towards the end of my career, I was putting 22% of my salary into my 401k plan, thanks to these matching funds.



Well, I'm not really bitter about it but I was pretty annoyed by it. I am realistic enough to understand that investing in the stock market can be a real gamble at times and that when one gambles one will lose sometimes. The timing of it probably bothered me more than anything. I only had $10k or so invested in AIG at the time, so not a big deal, but having it collapse 3 weeks after I bought it kind of stunk.



I can only hope that AIG has learned its lessons about "investing" in derivatives. There is no faster way to make or lose money than by involving yourself in the derivatives market. It is the rocket powered roller coaster of the investing world and the only device that allows people and companies to wager WAY more than they actually have. Unfortunately for many, we did not know that they were cooking the books on the LIBOR and manipulating interest rates in ways that absolutely prevented these interest rate derivatives from serving as the insurance against future interest rate rises. The banksters KNEW when they sold these derivatives that they were in fact worthless because they were manipulating the interest rates such that the derivatives would never pay off... until they were ready. It was a rigged game and AIG fell face-first into it. So did some other companies... like Lehman Bros., Bear Sterns, MF Global, PFG-Best, and Sentinel.



Yes, you may. Or, you may just be Act II of the same financial manipulation that caused so many problems in 2008. Keep your stops close, my friend, because what a person or a company does once, they can surely do again.

The spike down was perdicted with what happened in europe today the us dollar gained some ground dropping the price of silver and gold