I’m actually scooping a couple of stocks now, hoping that things turn around. Right now, through google’s profolio app on their site, I have lost about 2 grand (good thing its not my money)
this thread fucking long so i aint gonna bother to check about the 401k. i got a question about it.
my job got 401k plan but i dont know if i should sign up for it since i know shit about it. can someone give me a rundown on it?
another question… if i sign up for it at the job im at right now and later quit, what will happen to my 401k plan?
- Yes you should sign up for it. It is basically a way for you to save money for yourself prior to your retirement. It is best to start early.
- Your job will send you forms to either withdraw money out of it (less taxes) or once you go to your new job you just simply transfer it over.
Maxing your 401k is so crucial.
i started my roth ira this year. i’m putting in the maximum each year. i’m so proud of myself.
depends
if your job matches a certain percent then go for it, but make sure your 401k is invested in something that is low risk like a money market account or CD instead of the company stock or the stock market in general or you’ll run a huge risk of going broke
if your job doesn’t match it, you’d be better off investing on your own
So should I worry about the money in my EmigrantDirect online savings account with all the shit that’s happening right now?
^^ bump. Guess I shouldn’t be worried in any way?
No, its FDIC insured. Unless you have over 100k in there :woot:
fixed according to the Handout (bailout) bill
:tup: How you been man? Haven’t hit you up in awhile
Which means longer for your money to be returned. FDIC rules state you will get your loot back but it could be 8+ months of waiting. Think Katrina check. Yeah. Ain’t that a bitch.
trying to get my real estate thing bumping but things are moving too slow so a brotha has to get a gig
Did you hear that the bailout is higher now? This is a sad day.
you absolutely have to be shitting me. does the gov’t pay interest on the wait?
is the wait a function of holdings or how badly the institution is screwed?? i havent heard anything about this. which somewhat makes sense, considering what the possible ramifications are… no one wants to be caught dead for causing a financial system collapse.
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No, not shitting you. Its my job to break this stuff down for the market.
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Its a combination of both, lol, function and the insitution is screwed.
Hence the reason Im trying my best to give you guys a lot of information before or as it happens with the economy (cant tell you everything cause id lose my job). Its my job to actually break down a fuck up in the market (rules, regulations, buyouts, mergers, collapses…etc.)…along with breakdowns of IPO an secondary filings… yeah.
Here is something I would like all of you to have fun with an get your mind hurting:
The Bailout total… tell me-- (well i know)-- but tell me where did the final numbers for the bailout come from?? How did the total come about.
along with that
take this and then think on it
$700+ Billion with 14% interest
Kthxbye
According to many unknown sources the 700 billion was something along the lines of We want a big number.
Now as the secretary of the Treasury, isn’t it easy to get the total # of toxic debts out there on the market easily rather than try to pay a premium to buy those toxic mbs’s.
Chris cox is a moron for not lifting the marking to market rule during this time. What this basically does is assigns a market value based on demand out there on the market. Essentially no one wants to buy these MBS securities therefore banks have to mark them to the market value of junk status, basically worthless. There is a possibility that the 700 bil to buy all the toxic debts will turn a profit but no one really knows the real value of all the outstanding mbs’s out there.
I saw on CNN, i think it was John Ramsey, explaining this and making sense of it all that I don’t see why we’re still going through with this 700billion bailout. Of all the toxic MBS’s out there, there’s only a +5% risk of default at the moment. His plan was to account for all the MBS’s out there, and apply a 10% premium to cover the 5% default and then some. It’d be a lot cheaper than 700 billion.
Wasn’t there $800 bill that was used for the same thing before the bill was proposed…
The 2009 edition of “The 100 Best Stocks You Can Buy” is now available on Amazon, I got my copy yesterday. This is the sixth year in a row I’ve bought his book. John Slatter, the author is getting very good at finding value, and I am pleased as pie that my company made the list this year 
Well, although I’m not convinced we’re at a market bottom, it does look as if the banks are fighting any more price drops. Each “bad” day we’ve had recently, I’m watching good banks go down in price from 5-11% or so, then spring right back the next day. If you enjoy day trading you could make some quick cash there.
However, it looks like credit card companies are being priced to fail now. American Express and GE (They operate a lot of store credit cards) are both super cheap, and that’s in spite of Buffett owning/adding money to. I’m buying both.
Holy fuck… the stock market is so fucked.
All the money I had into my stock account is disappearing. By the thousands… :wasted:
Fuck that shit… I’m not putting any more money in that shit for a while.
I feel now is the time to buy though…Ford stock is 2 bucks!!! Shiiiiiiiiiiiiiiiiiit