The Stock Market

[Doc Holliday]

Anyone here ever bought stocks? I played around with mutual funds after the 2001 crash and made a little bread to fund my habits.

Today I wished I had some money to toss around. China fell 9%, DOW 3 1/4% and NASDAQ almost 4%!

Dow tumbles 415 points, biggest one-day point loss since 2001, as investors eye China, thwarted attack on Cheney, drop in durable orders.
NEW YORK (CNNMoney.com) -- Stocks tumbled across the board Tuesday, after declining markets in China and Europe and a steep drop in durable goods orders triggered a massive selloff on Wall Street.

According to early tallies, the Dow Jones industrial average (down 382.29 to 12,249.97, Charts) tumbled 415 points, its biggest one-day point loss since the day the stock market reopened after the Sept. 11th attacks. On that day, the Dow lost 684.81 points.

source


EDIT: Old thread: http://www.the-nextlevel.com/board/s...ad.php?t=24037

[icarusfall]

The stock market is made out of magic, suspended in gelatin, and worshiped by people in suits.

It's fake.

[Gohron]

A lot of people believe that The Great Depression was engineered by the nation's rich so that they could get even more rich. Some people even go as far to say that Hitler was helped to power by these same people in hopes of a war to sky-rocket the economy.

I don't know about any of that but I definately believe the stock market is mostly engineered.

[Yoshi]

We need an attempt on Al Gore or Hillary's life to get the market to rebound.

[Advocate]

We need an attempt on Al Gore or Hillary's life to get the market to rebound.

Agreed.

[Doc Holliday]

...only if she's walking to Federal Hall when a bullet strikes her thigh spewing crude oil all over Ground Zero.

[Gooch]

Today was a good day for the bears! I started short selling last week and thank goodness for that as I think this sell-off will extend for a few more days, though I think it's a bit overblown. China's economy isn't as dependent on the equity markets like the U.S.'s is, but China was the prime catalyst after being down 9% overnight. You could feel that the market was waiting for a reason to sell-off just by the lukewarm reception to this week's huge private equity buyout of TXU. Just last week the market responded favorably to the Equity Office buyout. Then you had Greenspan's recession commentary yesterday, coupled with the perception that the markets were due for a correction, and BAM!

Anyone here ever bought stocks? I played around with mutual funds after the 2001 crash and made a little bread to fund my habits.

Mutual funds are terrible. Go for ETFs, specifically index ETFs if you want a diversified play. Mutual funds charge a lot of fees, have no transparency, end of day pricing (you can't sell out until after close), tax inefficiencies, etc.

[burgundy]

I don't know about any of that

This is really all you had to say.

[Cowdisease]

Mutual funds are terrible. Go for ETFs, specifically index ETFs if you want a diversified play. Mutual funds charge a lot of fees, have no transparency, end of day pricing (you can't sell out until after close), tax inefficiencies, etc.

For you stock guys, where is the best intermediary to go and buy index ETFs? I'm already investing in my work's pension fund and a separate ROTH IRA, but I'd figured that I should also expand my retirement net to stocks, and the best way to do so is with index funds.

[Dolemite]

A buddy of mine is a stockbroker, and it's a fucked-up business. The highs are great but the lows suck. He can have a good week and pull in $20,000 or more, but then not make anything for weeks (sometimes months if it's really bad) after that. It can be nervewracking at times.