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Join Date: Apr 2001
Location: Linn County, Oregon
Posts: 48,887
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Seems like good bargain hunting to me, Wayne. I assume you're thinking long term?
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"Now, to put a water-cooled engine in the rear and to have a radiator in the front, that's not very intelligent." -Ferry Porsche (PANO, Oct. '73) (I, Paul D. have loved this quote since 1973. It will remain as long as I post here.) Last edited by pwd72s; 10-10-2008 at 12:02 PM.. |
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10-10-2008, 11:59 AM
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Unregistered
Join Date: Aug 2000
Location: a wretched hive of scum and villainy
Posts: 55,652
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Everyone is pulling out.
We'll see 7000 in less than 60 days. It'll take 4 or 5 years to see 9000 again. I see the bottom around 6600. Then I'll get back in. |
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10-10-2008, 12:02 PM
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Monkey with a mouse
Join Date: Oct 2000
Location: SoCal
Posts: 6,006
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Smart moves, IMO.
You gotta buy when everyone else is selling and there is certainly "blood in the streets". I would cost average if/as prices fall further. Best, |
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10-10-2008, 12:05 PM
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Join Date: Feb 2006
Location: Mt. Doom
Posts: 1,019
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I bought up some GE, that's some dirt cheap stock there. Yes, going long on it. I think I might have to buy up some more
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3.2 targa |
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10-10-2008, 12:12 PM
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Unregistered
Join Date: Aug 2000
Location: a wretched hive of scum and villainy
Posts: 55,652
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I've bee wrong before, we'll have to wait and see.
BTW, who's the tool that gave Wayne's thread one star? I bumped it up a bit. |
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10-10-2008, 12:17 PM
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Registered
Join Date: Apr 2001
Location: Linn County, Oregon
Posts: 48,887
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Buy Low-sell high, right? Wayne thanks for posting the Wall St. Journal bit.
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"Now, to put a water-cooled engine in the rear and to have a radiator in the front, that's not very intelligent." -Ferry Porsche (PANO, Oct. '73) (I, Paul D. have loved this quote since 1973. It will remain as long as I post here.) |
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10-10-2008, 12:18 PM
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Monkey with a mouse
Join Date: Oct 2000
Location: SoCal
Posts: 6,006
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Quote:
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10-10-2008, 12:22 PM
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Unregistered
Join Date: Aug 2000
Location: a wretched hive of scum and villainy
Posts: 55,652
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Quote:
 I've lost enough over the past 14 months to qualify me as "the guy you don't take financial advice from". It's allot easier to be an expert when the market is going up. Last edited by sammyg2; 10-10-2008 at 12:26 PM.. |
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10-10-2008, 12:23 PM
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Back in the saddle again
Join Date: Oct 2001
Location: Central TX west of Houston
Posts: 57,059
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I'm just beginning my foray into the market, and this seems like a good, but slightly scary time.
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Steve '08 Boxster RS60 Spyder #0099/1960 - never named a car before, but this is Charlotte. '88 targa  SOLD 2004 - gone but not forgotten
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10-10-2008, 12:26 PM
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Registered
Join Date: Apr 2001
Location: Linn County, Oregon
Posts: 48,887
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When panic selling ensues...bargains abound.
Damn, wish I had a crystal ball. At my age, can't afford to move on a whim, so wait & see. Should I sell treasuries, place it in the market? Dunno at this point. I do wish the politicians would just shut up. Seems like whenever one of them opens his mouth about how he'll fix things, the market takes a hit.
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"Now, to put a water-cooled engine in the rear and to have a radiator in the front, that's not very intelligent." -Ferry Porsche (PANO, Oct. '73) (I, Paul D. have loved this quote since 1973. It will remain as long as I post here.) |
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10-10-2008, 12:27 PM
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I don't see any energy/utility stocks in your mix.
NRG Energy, the company I work for, has taken a beating in the last few days just because the price of natural gas has dropped. I'm not saying you should buy NRG and not saying you shouldn't, but there are certainly some energy stock deals out there that should be looked at.
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2014 Cayman S (track rat w/GT4 suspension) 1979 930 (475 rwhp at 0.95 bar) |
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10-10-2008, 12:39 PM
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Back in the saddle again
Join Date: Oct 2001
Location: Central TX west of Houston
Posts: 57,059
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Quote:
Yeah, NRG, Calpine, Dynegy and Reliant have all taken a beating.
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Steve '08 Boxster RS60 Spyder #0099/1960 - never named a car before, but this is Charlotte. '88 targa SOLD 2004 - gone but not forgotten
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10-10-2008, 12:44 PM
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Friend of Warren
Join Date: Oct 2000
Location: Lincoln, NE
Posts: 16,547
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I don't see the market making 400-500 point gains in the near future, so I am going to wait and see how much lower it is going down.
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Kurt V No more Porsches, but a revolving number of motorcycles. |
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10-10-2008, 12:44 PM
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N-Gruppe doesn't exist
Join Date: Jun 2005
Location: *%@#ing GPS, where am I? Oh wait I see the Space Needle.
Posts: 4,394
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8509
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Ted '70 911T 3.0L "SKIPPY" R-Gruppe #477 '73 914 2.0L SOLD bye bye "lil SMOKEY" "Silence is Golden, but duct tape is SILVER.” other flat fours:'77 VWBus 2.0L & 2002 ImprezaTS 2.5L |
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10-10-2008, 12:58 PM
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Registered
Join Date: Dec 2004
Location: san jose
Posts: 4,982
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where are those real time tools? thanks
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10-10-2008, 01:17 PM
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Dept store Quartermaster
Join Date: Jul 2001
Location: I'm right here Tati
Posts: 19,867
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Interestingly, I bought a fifth of Irish whiskey at around 7,800.
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Cornpoppin' Pony Soldier |
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10-10-2008, 01:24 PM
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Join Date: Feb 2006
Location: Mt. Doom
Posts: 1,019
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Quote:
General Electric
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3.2 targa |
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10-10-2008, 01:26 PM
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GE is part energy, but they're in a ton of other stuff too.
They're pretty much the gold standard of blue chips even though they haven't done well of late, so they're usually a safe buy.
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2014 Cayman S (track rat w/GT4 suspension) 1979 930 (475 rwhp at 0.95 bar) |
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10-10-2008, 01:38 PM
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Banned
Join Date: Mar 2007
Location: Ft.Lauderdale, FLORIDA
Posts: 2,813
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What what what....'89 Carrera for $8k? Where?
Ooops, sorry Wayne. But you have to understand, for me that was kind of like waving a steak in a dog's face. I couldn't take my eyes off that sentence for about 10 seconds....  Anyway, I agree with you completely. Next week I think I'm going to take a look at the stocks you've mentioned and a few others and see what I can steal- N! |
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10-10-2008, 01:58 PM
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My two cents:
If global governments and central banks can avert collapse of banking system and thus prevent quasi-depression, then even if we get a major recession, many stocks look to me like screaming buys. I am seeing scores of stocks at 8X P/E, 0.5X P/S, 15% FCF yields, 4-6% dividend yields. Market P/E is around 11.3X on 2008E (using SPX/SP50), similar to trough of 1990/91 recession. Looks like 10.3X on 2009E but the consensus earnings for 2009E are optimistic (do you think SPX/SP50 2009 earnings will grow +10%?) If not, then I can see market going to P/E of 1970s or even 1930s, with a very severe recession/quasi-depression, and very high "true" interest rates (treasury yield may be low but that won't reflect true cost of money to companies/consumers). In those periods, market P/E was 5-8X. And the earnings will be considerably worse than consensus thinks. So, I want to see banking system and credit markets improve, before I bet on a sustainable market recovery (as opposed to an oversold or short-covering rally). The easiest things to watch are LIBOR, LIBOR-Tbill spread, CP rates and issuance, Corporate-Treasury spread, and CDS, so stock market will take its cues from those.
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1989 3.2 Carrera coupe; 1988 Westy Vanagon, Zetec; 1986 E28 M30; 1994 W124; 2004 S211 What? Uh . . . “he” and “him”? Last edited by jyl; 10-10-2008 at 08:33 PM.. |
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10-10-2008, 03:37 PM
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1979 Porsche 930 3.4
1989 Porsche 911 Carrera 3.2
