mjkst27 Posted March 10, 2003 Report Share Posted March 10, 2003 I used to always contribute the max to my 401k, but had a change of heart after about 3 months of hard-core Stoolie education this time last year. Now I contribute as much as my company will match me on. If my company didn't do a match, I wouldn't participate. In other words, the only reason I contribute 8% to my 401k is because I essentially get a 4% raise for doing so. BY DEFINITION, the whole concept of retirement will be either non-existent or badly mutilated by the time I get there (a long long time from now), thanks to the working-over the Boomers are about to give it in the next 20 years or so. So why am I contributing to a retirement plan? So the gubbamit can rob me of it when times get real tough? Might as well pay the taxes and buy physical. I am sure this will put me in a much better situation come retirement time than if I had faithfully contributed to the lame Fidelity 401k. For the record all of my 401k money is in the money market fund. Fido will make it whole if the buck breaks. Link to comment Share on other sites More sharing options...
Guest Posted March 10, 2003 Report Share Posted March 10, 2003 Thanks for the party pics....I was almost expecting a view of naked rear ends but I see everything was quite normal or as normal as it gets around here.. A VERY WEAK market here today. Blast off on open, then an expanding formation at the highs and down she went... the all ords not quite red yet but will be by close. As Piles says, LOCK & LOAD..... Link to comment Share on other sites More sharing options...
K Wave Rider Posted March 10, 2003 Report Share Posted March 10, 2003 Link to comment Share on other sites More sharing options...
PileDriver Posted March 10, 2003 Report Share Posted March 10, 2003 Windy, Stoolie Short-n-hold 'folio These stocks are on a rocket ride to hell. With the exception of MOLX I'd avoid the ones now on Hold (where Rec=H). I covered CERS Friday for nice coin. Better off redeploying buck$ than waiting for it to go to zero I think I'll post a newer shortfolio soon since more turds have popped up since 1/23. How do you avoid "Glam Jams"? Simple, don't short glams! :grin: Link to comment Share on other sites More sharing options...
Oilman Posted March 10, 2003 Report Share Posted March 10, 2003 Here is somthing to think about: what about liquidating your 401K and eject the powder from the matrix. I am not saying I am going to do it, but just thinking out loud. If hypertiger is correct, then our 401k will not be worth anything anyway. Oilman Link to comment Share on other sites More sharing options...
PileDriver Posted March 10, 2003 Report Share Posted March 10, 2003 Thanks for the party pics....I was almost expecting a view of naked rear ends but I see everything was quite normal or as normal as it gets around here.. A VERY WEAK market here today. Blast off on open, then an expanding formation at the highs and down she went... the all ords not quite red yet but will be by close. As Piles says, LOCK & LOAD..... In June when Doc comes up and the weather is warm that's when we'll do the moon-shot in front of Nasty. Link to comment Share on other sites More sharing options...
DrStool Posted March 10, 2003 Report Share Posted March 10, 2003 Tanks for the only realtime nikme, realist! Link to comment Share on other sites More sharing options...
ThorAss Posted March 10, 2003 Report Share Posted March 10, 2003 There is one person who's done right by use of funnymentals - Jim Rogers. He doesn't use TA at all, he says. His commodities fund is up nearly 15% this year alone and closing in on 100% since he opened it after the Asian crisis in the fall of 1998. http://www.rogersrawmaterials.com Fundamental analysis can avoid great harm. HRFF told his clients to exit the stock market completely at levels of DJIA 10,500 and NASTY 2500 on Aug 9-10, 1999. He wonders how many of 'em LISTENED to what he had to say. Perhaps there are legions of people using TA successfully, consistently, over time. It sure is good for identifying major turning points in the markets. At least to the downside. SNOT in all cases but in enuff. Mid Jan this year is one ex. Mid Jan lASSt year, too. I think that fundamentals should be never used ST but should be used for the LT opportunities, areas to concentrate interest or to look for a change in trend. Sometimes the fundamentals of supply/demand over/undercapacity are way out ahead of price but often the fundamentals of P/E etc are way behind. Once a LT opportunity has been identified than one should use TA exclusively to trade it. Don't run towards a stampeding herd in other words. Even if they're running in the wrong direction, that won't stop you getting trampled. Link to comment Share on other sites More sharing options...
wndysrf Posted March 10, 2003 Author Report Share Posted March 10, 2003 Arch Crawford's "weird and strange" event: Just reported on Drudge over his radio show: N. Korea just fired off another missile into the ocean. Japanese newspaper says that U.S. is seeking a regime change in N. KOREA.... Clinton and Dole debate on 60 minutes.... Well, is that weird or what?? Link to comment Share on other sites More sharing options...
mjkst27 Posted March 10, 2003 Report Share Posted March 10, 2003 Oilman - something I have been doing is I roll my 401k's into IRA's when I change jobs. Then I roll the IRA money a little each year into a Roth IRA. I have been able to do this twice in 5 years due to job changes. The nice thing about a Roth IRA is I can do anything I want with it, so I have BEARX and some inverse funds. Sure beats the dead money conservative options in most 401k's. With the Roth I am building up a nice stash of money that is already tax-paid (except for any bear market gains which I'll have to pay tax on if I eject from the matrix), so that if I ever want to hit the eject button, all I need to pay is the penalty. Who knows, it might be worth quitting your job once to roll your 401 into a Roth Link to comment Share on other sites More sharing options...
TheDeepBlueSea Posted March 10, 2003 Report Share Posted March 10, 2003 Link to comment Share on other sites More sharing options...
PileDriver Posted March 10, 2003 Report Share Posted March 10, 2003 Oilman, I'm in the exact same 401K boat and I too am getting nervous about being in it. I just started contributing to it as a new employee so its not that big but I don't know how to break the "hostage clause". Luckily percentagewise most of my dough is in rollover IRAs, very little in current 401K but why even give that away. Scarey indeed. Link to comment Share on other sites More sharing options...
sheet4brain Posted March 10, 2003 Report Share Posted March 10, 2003 A VERY WEAK market here today. Blast off on open, then an expanding formation at the highs and down she went... the all ords not quite red yet but will be by close. As Piles says, LOCK & LOAD..... How are coping with the heatwave, aussiebear? Are the chooks under the house again? I got back in Newscorp putz again this morning after taking dem profitz last Friday. I hope you do the same. The banks are finally breaking down (keeping fingers crossed). Keep cool Link to comment Share on other sites More sharing options...
Guest Posted March 10, 2003 Report Share Posted March 10, 2003 In June when Doc comes up and the weather is warm that's when we'll do the moon-shot in front of Nasty. Oh is that what a MOON SHOT is?? D'oh, went straight over my head Link to comment Share on other sites More sharing options...
Oilman Posted March 10, 2003 Report Share Posted March 10, 2003 Thanks mjkst27 and PD for your responses. They have been brain washing us for so long now to max out out contribution to the 401k. When the dollar goes what will your 401k be worth? A question that I have been asking myself as i do more research about our government and economy. I am re-evaluating the situation every 8-10 months and if things are just getting worst, I might be liquidating 1/3 at a time. Oilman Link to comment Share on other sites More sharing options...
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