it's a heck of a show from the sidelines.

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I was down about 10k by the time I got out but would have lost a lot more than that today.
Only time will tell if it's the right move.

Looks like a repeat of Wed.
Tabs is getting warmed up!

The white limo took it pretty good!

If the market is going to drop...this day is the best for me...the last trading day of the month.
My biggest investment is a dividend utility stock that buys back shares with the dividend today.

The lower the price is...the more shares are bought.

One thing we must remember, wall street firms do not invest their own money.
They make money investing OTHER PEOPLE'S MONEY.

You win, they win.
You loose, they win.
Markets go up, they make money. Markets go down, they make money.
If they go down a whole bunch, it might take them longer to make money but they always do.
Sure there is always a sacrificial lamb offered up but in the long run, the ones that really get hurt are regular ole people on main street.
Heck even in 2008 the big investment forms got bailed out or gobbled up but didn't really go away.

As soon as Henry Paulson and Ben Bernanke realized how badly they screwed the pooch, the first thing they did was run to nancy pelosi and ask for $700 billion to cover up the mess.
Quote:
Nocera, Joe (October 1, 2008). "As Crisis Spiraled, Alarm Led to Action". The New York Times.



Worst case they have to live off a $20 million golden handshake and lay low until they start up another investment fund in a few years.
The hedge fund managers are not loosing their own money, they are loosing the money of people who invested in the funds. Are they really the ones that should be screwed over?

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A repeat of Wednesday for today.

Buy low, sell high.