QueBota
Gold Member
Two things to think about. If you retirement account looses 50% of its value, it must go up 100% to return to its pre-loss level. During the first Depression, the folks who did not sell their stocks had to wait until approx. 1954 until they regained their pre-Depression value. Of course, things cost more in 1954 than they did in 1929, so they were technically still at a loss.
If your accounts are down, at this point the only practical thing to do is hold on and wait, selling at a loss is just about the worst thing you can do unless you are reasonably sure your accounts are heading lower.
In January 1999 General Motors (GM) was valued at $87.00 per share of common stock, opening price this morning is $1.77 and I believe it will eventually go to $0.00. All common stock shareholder equity will be wiped out. So what do you do if you are holding GM? Take your $1.77 and run, hold on and hope it regains value or potentially watch it go to zero.
If you had an extra $10K in cash would you gamble on 5649.71 shares of GM?
We are in a worldwide economic crisis that is unprecedented. There are so many factors that are screwed both here and abroad that there is no way to predict what is going to happen and every attempt to "fix" something sends waves throughout the economy.
We (The United States) are bankrupt and continue to borrow, spend and print with abandon. Hopefully, through the grace of God, we will be able to claw our way back but it is going to be difficult and by no means certain.
Dave
If your accounts are down, at this point the only practical thing to do is hold on and wait, selling at a loss is just about the worst thing you can do unless you are reasonably sure your accounts are heading lower.
In January 1999 General Motors (GM) was valued at $87.00 per share of common stock, opening price this morning is $1.77 and I believe it will eventually go to $0.00. All common stock shareholder equity will be wiped out. So what do you do if you are holding GM? Take your $1.77 and run, hold on and hope it regains value or potentially watch it go to zero.
If you had an extra $10K in cash would you gamble on 5649.71 shares of GM?
We are in a worldwide economic crisis that is unprecedented. There are so many factors that are screwed both here and abroad that there is no way to predict what is going to happen and every attempt to "fix" something sends waves throughout the economy.
We (The United States) are bankrupt and continue to borrow, spend and print with abandon. Hopefully, through the grace of God, we will be able to claw our way back but it is going to be difficult and by no means certain.
Dave
