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skidMark
14th October 2008, 12:33
Just read this,

thank fuck about sums it up.

http://msn.nzherald.co.nz/section/3/story.cfm?c_id=3&objectid=10537359&ref=rss

Skid.
Winston001
14th October 2008, 12:45
Amen brother, amen.
Ixion
14th October 2008, 13:55
Sounds familiar



prices peaked at 381.17 on September 3, 1929. The market then fell sharply for a month, .. Prices then recovered more than half of the losses over the next week, only to turn back down immediately afterwards. The decline then accelerated into the so-called "Black Thursday", October 24, 1929. ..On Monday, October 28, the first "Black Monday", .. the slide ....

An interim bottom occurred on November 13, with the Dow closing at 198.6 that day. The market recovered for several months from that point, with the Dow reaching a secondary peak (ie, dead cat bounce) at 294.0 in April 1930. The market embarked on a steady slide in April 1931 that did not end until 1932 when the Dow closed at 41.22 on July 8, concluding a shattering 89% decline from the peak. This was the lowest the stock market had been since the 19th century.


The consolation is that no matter how bad things get, they can always get worse.
SPman
14th October 2008, 15:02
You think the worst is over!

Hah! - dream on - it's only just begun!
skidMark
14th October 2008, 15:10
You think the worst is over!

Hah! - dream on - it's only just begun!


I know, but its better than it dropping like a stone.
jrandom
14th October 2008, 15:40
I know, but its better than it dropping like a stone.

Worried about your portfolio, eh, Mark?

:laugh:
skidMark
14th October 2008, 15:41
Worried about your portfolio, eh, Mark?

:laugh:

If you had been following it closely you would realise it doesn't just effect investors.
jrandom
14th October 2008, 15:45
... it doesn't just effect investors.

Don't you mean 'iffect envestors'?
Timber020
14th October 2008, 21:26
If you throw a dead cat out of an 20 story window in wall street, when it hits the road is will bounce up in the air for a moment. But its still a dead cat. It just happens to have bounced up for a minute.
skidMark
15th October 2008, 00:00
If you throw a dead cat out of an 20 story window in wall street, when it hits the road is will bounce up in the air for a moment. But its still a dead cat. It just happens to have bounced up for a minute.

what if theres a trampoline, or it gets snagged on a flagpole on its bounce?
Number One
15th October 2008, 06:18
If you throw a dead cat out of an 20 story window in wall street, when it hits the road is will bounce up in the air for a moment. But its still a dead cat. It just happens to have bounced up for a minute.
Indeed. Don't get too comfy yet folks!

BTW - sorry Skidmark but I did have a wee chuckle that you posted this up. Only my mental model I know but it just didn't seem to fit with the SM posts of old - you really have settled down...good for you dude :sunny:
tri boy
15th October 2008, 06:23
Winter 09 will be the turn around point. (northern hemisphere summer). MHO
Alot of pain to come yet, and NZ will be a few months behind in the recovery.
This Xmas will be a tight one for many NZ families, and the new year financial hangover will be a real bitch. Make your own pressies this year.
Manxman
15th October 2008, 16:44
I subscribe to this sentiment...http://www.kiwibiker.co.nz/forums/showthread.php?t=83979 :Punk:
tommorth
15th October 2008, 17:02
Manxman thats great pity most of them will retire with millions and not a care in the world

I've got a book with photos from the states during reccesion in the 30s and the union wars etc scary stuff