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 Replies: 14 / Views: 1,260 |
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Press Manager
 United States
1420 Posts |
What are the ramifications to YOUR portfolio now that S&P has downgraded the U.S. credit rating from AAA down to AA+?The repercussions of Standard and Poor's downgrading the U.S. credit rating from AAA to AA+ continue to wreak havoc on international and domestic markets, with the Dow Jones Industrial Average plummeting over 5% while the NASDAQ and S&P 500 each fell over 6%. What does this mean for you and your portfolio? APMEX CEO, Michael Haynes, has recorded a special message for APMEX clients discussing the ramifications of the downgrading from AAA to AA+. Read the rest of the artice and view the video here.
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Pillar of the Community
United States
931 Posts |
It didn't affect me at all. I am in real estate, sports cars, cash, and precious metals. I had my fill of stocks in 2008. I don't have any kids so there isn't much reason for me to act responsibly. I just need to keep food on the table and pay my taxes.
Edited by junior e
08/09/2011 10:58 am
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Pillar of the Community
United States
1064 Posts |
Going to ride out the stock market, as I've done before. I collect some silver, and have a few ounces of gold, but strictly as a collector of coins. I'm in the stock market for the long haul (Some prayers on my behalf probably wouldn't hurt!)
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Valued Member
United States
59 Posts |
im totally out of stocks also, this and any stock market dump wont affect me. for me its all about hard assets also - real estate, precious metals and guns
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Pillar of the Community
United States
667 Posts |
No changes, I'm young and I don't mind a fall in the stock market. It gives me an opportunity to buy more stock cheaper. I haven't changed my PM strategy much, I am still buying but not as much.
The farm is in the black and some cattle has been sold and the crops are doing well.
The other day job is doing well though I consider myself semi retired with it.
In short I am fine, I take this stance there is not a loss until you cash something in. I have diversified to the best that I can so if one market goes down I am safe. If they all go down at least we can still eat well unless we also get world record drought or something like that.
I would think some people who have no diversified and are retied might be in trouble. Those who bet the farm and are in debt might be n trouble.
I have been in the Stock Market from 1983 and never had one day of regret, the earnings have always been there. The key is moving them to safer places once I get near that age I will need the money.
Edited by mkfarm
08/09/2011 12:28 pm
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Pillar of the Community
United States
931 Posts |
It's too bad you have to work another job to keep your farm going. I grew up in the cornfields of Illinois and remember when the great farmer's got a new truck every couple years, drove a nice Oldsmobile or Buick..... spent their Winters working on the equipment or feeding the livestock. My how times have changed. I admire the small farmer still fighting to make a go of it. You are the last of a rare breed.
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Pillar of the Community
United States
5832 Posts |
Got lucky! Moved all my IRA back into a FGMNX fund early last week, made out ahead even with 2 days of blood bath market. Bought a NGC VG-10 1916-D Mercury dimes with some of my other profits. I'd sweat with the dividend stocks I bought last Friday and yesterday, but is not over yet. |
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Pillar of the Community
United States
5832 Posts |
Jackpot!
Back up at closing, so will see after market?
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Moderator
United States
16679 Posts |
My 401K as of last week 85% cash. I would rather be safe right now. I don't care who you are, you cannot predict the stock market. I heard an analyst Sunday call for a plus day on Monday. I'm in GLD and SLV as well as picking up some keys also. Great time to buy.
swcoin.ecrater.com
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Pillar of the Community
United States
4008 Posts |
Quote:
If they all go down at least we can still eat well unless we also get world record drought or something like that. - mkfarm My grandfather had a small farm back in the Great Depression times. They had virtually no money, bartered for what they needed but did not have, and never went hungry. This shows the power of land as a financial / personal asset. Can't raise chickens, beef, wheat, and a BIG garden in an apartment... or most anyplace else in town for that matter. Granddad tried real hard to sell some pigs for cash money one time but could not find any takers. That was when he turned to making "Moon". Funny how he could not get any money at all for a young pig but a pint of Moon could be sold for $1 any day of the week. Doesn't seem like much these days but $1 was real money back then. Of course, that dollar was probably a Morgan or a Peace silver dollar, so looking at it that way does make it seem more valuable. |
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Pillar of the Community
United States
3294 Posts |
I mostly bought into stocks when the DOW was below 8k in 2008 so I am not worried.
Edited by nod2003
08/09/2011 4:45 pm
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Pillar of the Community
United States
5832 Posts |
You're most certainly correct. I can't predict market, but the best I can say I have a good friend I get advises from. I don't say he's always right, but his formula are very good and he thinks PM are scams.
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Valued Member
United States
59 Posts |
whats your friend have his savings in then?
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Pillar of the Community
United States
5832 Posts |
He goes in and out of stocks constantly, pays taxes like some person year salary for short term gain. Mutual funds that he will moved around every quarter like he had me moved away from FDGFX to FGMNX 2 weeks ago. (Just checked instead of last Monday.) Not a single dollar he will invest in PM, Sunday I mention to him that gold is moving in Asia/Europe and email him the APMEX link. Scam he said to me. Go figure. That's when I posted that Kitco was taking orders in one of the post. |
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Moderator
United States
16679 Posts |
Scam or not I bought most of my gold at $600-$1100 and silver at $14-$24. I'm happy.
swcoin.ecrater.com
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Replies: 14 / Views: 1,260 |
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Posted 08/09/2011 10:51 am
