On 20/07/2010 9:08 PM, Califbill wrote:
"bpuharic" wrote in message
...
On Tue, 20 Jul 2010 19:20:56 -0400, wrote:
On Tue, 20 Jul 2010 17:07:55 -0400, bpuharic wrote:
and there as many HF managers who saw this coming as economists
MOST hedge fund managers were betting against housing in 2007, that is
what hedge funds do.
except, of course, they told no one. the fine against goldman sachs
that depressed their first quarter earnings was for exactly this type
of screwing around
BTW I was reading an old Fortune magazine at Jury duty today (jan/feb
2010) and they had a list of the funds that did get it right this
year, one was up 265%. They also listed 1000 with their results for a
year and 3 years. I was looking at the Fidelity funds and most of them
were up this year, about half up over the last 3.
I guess I will dig out my 401k statement and see how it really did.
I know the last time I looked it was double what it was when I stopped
contributing in 1996.
too bad the right wing destroyed the pension system in this country
and let the rich replace it with 401k's.
For those of in demand for jobs, 401k's were great. I was with NCR for
17.5 years. Defined benefit plan and I get $234 a month when I turned
65. Other than one company, TI, I never would have got a pension. As did
not stay long enough to be vested. I did startups and small companies
mostly. Still get head hunters calls and I have been retired 8 years.
That 401K match or extra allowed me to have a large retirement backup.
Luckily the non retirement investments, and SS pay for my retirement
costs, so the 401K money still keeps growing. I invested in less risk
items in the IRA's etc. So did not lose the 60% you did. I figured out
that I have to watch out for myself. As I am the one most interested in
my money. Tip: Invest in oil health and sin. They always seem to pay. In
2002 I bought MO. I think it was Loogie who said bad investment. Bad
advice. Still pays near 5% dividend and value has gone up at least 300%.
I am against smoking, but have no qualms about profiting on people
burning up money.
I had MO in 1996 in the low 20's, sweet dividend too. And sold in about
the $55 range in 2004 when I started my exist out of USD. Was a sweet
ride. Might be a good buy here, but figure if I wait, might snag it at
$17 or so. Not liking the numbers I see heading into the fall.
--
Government has liberals, idealists and lawyers, but where is the common
sense?