Wall Street opens in half an hour or so...

An hour in on the Australian Market and we are down 2.2 %

Some are predicting 3-5%, I doubt it will be that much.

Bradman wrote:You did mention qunts. To think you're retirement is in the hands of 20somethings with less business nous than a milk bar operator.

Actually that's unfair milk bar operators actually have to work for a living.

Hehehe, I actually said as much to my "advisor" this morning. I actually was very close to converting my portfolio to cash when the market dived from 6600 to 6000 12 months ago, but was assured "let's just ride this out". FFS, we could be heading for low 4000s from this point.

Qunts.

Some good bargains at the moment. Would be a brave person to get in though.

D!ckhead advisor said to me today "It's a great time to buy now, because dividends are yielding better than cash rates."

Jeez, that fills me with joy. Does that mean when the market was revving around in the 6000s that it was severely over-valued (i.e. yields were not as good as cash rate but everyone was in a buying frenzy) and therefore will take forever for us to regain our losses?

Qunts.

skully wrote:Farkin blood-bath. Will be ugly today on the ASX.

Farking greedy farkin investment bankers. HTF do you fark an institution the size of Lehmann Borthers.

Firstly, you lump serious moolah into a black hole called the US prime mortgage market, and then "assist" other banks and institutions
to do the same before the black hole caves in.
In your wisdom you pay $$millions in bonuses to 20 something year old "whizz kids" for doing a job any trained parrot could accomplish -
ie., squaking down a phone without REALLY knowing WTF you're about.
These "whizz kids" only know a bull market, so when the bear inevitably bites back, panic strikes and nerves fray, as they, too late, realize a falling bear market ALWAYS spirals down at a faster rate than a bull market rises.

Cheers Merls. Possibly the best explanation I've had so far.

I hope thousands of these "wizz kids" lost their jobs.

skully wrote:D!ckhead advisor said to me today "It's a great time to buy now, because dividends are yielding better than cash rates."

Jeez, that fills me with joy. Does that mean when the market was revving around in the 6000s that it was severely over-valued (i.e. yields were not as good as cash rate but everyone was in a buying frenzy) and therefore will take forever for us to regain our losses?

Qunts.

He will be right on some things. There will be a stack of stocks who are in effect the baby with the bathwater.

The trick is finding them though. Some of the Infra stocks like BBI are currently on a 30% yield with some superb assets and no need refinance anything for over a year.

skully wrote:Cheers Merls. Possibly the best explanation I've had so far.

I hope thousands of these "wizz kids" lost their jobs.

You can spit in their faces next time you are in Maccas.

He's still a qunt.

But I'm not bitter. Like fark I'm not.

JGK wrote:

skully wrote:Cheers Merls. Possibly the best explanation I've had so far.

I hope thousands of these "wizz kids" lost their jobs.

You can spit in their faces next time you are in Maccas.

Whisper out there is that AIG (American International Group) may be next to topple.
they looking to borrow $75 billion just to survive!

That's the Manure Scum shirt sponsorship farked then ....

Merlin wrote:Whisper out there is that AIG (American International Group) may be next to topple.
they looking to borrow $75 billion just to survive!

That's the Manure Scum shirt sponsorship farked then ....

No probs.

We're insured.

I think the HR policy at my firm is to take in the most smug and arrogant 20-23 year olds and put them on a graduate program.

Send them overseas business class to do some so called "training"

Pay them shit loads.

And after it all, they just leave to bigger and better things anyway.

Farkin HR Divisions. I have a solution - a small thermo-nuclear device.

Would make not a jot of difference to the 3000 strong company I work for if they nuked the barstewards tomorrow.

Douglas Adams had it right when he sent them all (along with telephone sanitisers and hairdressers) on the B-Ark to the Sun.

We'd be up shit street without saniteen engineers, but . . .