Has the stock market destroyed anyone else here other than me? And I am not joking when I say destroyed. Most of my savings have been wiped out. I played risky and now I have lost almost everything.

 

Hang in there man. Better days are ahead.
I'm not in the same age group as you so I'm invested less risky, but still hit hard.

I'm guessing that everyone here is hurting to some extent, and probably some to the extent you are.

Try not to dwell on it. My thinking is that there's a whole lot more worse off than we are, so things could be much worse for us.

Colin

 

I think we have all taken a major hit

 

Pretty beat up over here, too. Stay the course.

 

dont try to sell and minimize loss...historically there is always recovery after market downs. this time it will take more time to recover. today is not like 2001 crisis, much bigger. to be honest from now on dont look at your holdings every day and get upset about it.wait and ignore it.or else u r going to destroy yourself emotionally..

its not going to recover quickly and all of a sudden, just stay in there, try to invest your money in liquid and less riskiest things.

this is a world wide crisis, u r not alone here...

 

I doubt if anyone is NOT hurting.

 

Yes, My investments are dwindling away to almost nothing and we were informed by my employer this week that my office will be consolidated to the NJ office on April 1st, so it's time to find a new job too. At least we got 4 months notice I guess.
Good Times!

 

to be honest canada got the lowest hit compared to others. i was in europe those guys were hit big time.

this is nothing like other recent crisis. this is a fundamental errror made by US and affected everything. but it doesnt mean the reason is only US.

let me tell u guys what i tell to my clients.

i guess people who lost a lot r people who has aggressive 5-10 year portfolios loaded with equity, of canadian US and international. first of all u agree that besides offering substantial return on these investments, u agree the fact that it can go vice versa while frist allocating your money to these funds.

if u r not needing this money for 5-10 years why would u bother the current value and worrying whats going to happen. i know its sad,and i definitley understand, since u need this money in that horizon you have enough time to recover and rebound.

its normal to be emotional about ur hard -earned money but looking at your goals, this is part of economic cycle.and we r now coming to the trough of the graph.Looking at the last 40-60 years including the great depression at the end market find its balance and rebound. so dont worry and be patient.

u can sell right now but u r going to crystilaze your loss.

let me give u an example. u have a semi-flat tyre, u r on high-way. first u dont have spare tire, at if u stop the tire is going to go completely flat for sure.
but if u know that in 10kms ,which u can afford to go, there is actually a gas station where u can pump some air or even repair your tire.why would u feel upset about ur semi-flat tyre and stop in the middle of the road and hope someone will give u their spare tire. just go with the air u have , the road is going to be a bit hard since the amount of air is low, but at the end of the road there is cure.

hope this helps.

 

i feel you man. I lost abit too in mutual funds, not too much luckily.
I always had the principle to invest amounts of money in stocks (or mutual fund equities) that you can truly **** on. Stocks are a form of gambling, more of a long term less risky type, but gambling all the same. I feel no pity for those who have to come out of their retirements and go back to work due to their losses.
It's the same to me as throwing your life savings on a poker table. You took the risk, don't cry about it. Tim Hortons is always hiring.

 

Took/taking the hit like most people. Hangin in cuz selling will make the loss real. I'll wait and hope for recovery.

 

Not rub salt in the wounds but I am actually going to be sitting very well. I owned 20% of an oil field company that I sold right at the peak of things (dont hate me I usually end up taking a beating on all of my buisness deals). I also got a raise last week my house however which I bought as an investment is likely worth less or even with with what I paid for it .
It will come back as long as you dont panic we will all be ok in the long run.
PS I also cashed out ALL of my stocks about 4months ago some of which I had for 10years for one I got lucky on stocks.

 

I got sooo lucky. A guy I played tennis with approached me about handling my savings, I took a look at what they were doing and it wasn't quite up to market. So I got another guy I know to handle it, transferred 80% over and he put it into a savings fund, and then slowly started to invest, real real slow. This happened in February. Sometimes not having a clue works out, lol.

 

I had several stocks that were extremely diversified and in the past 10 years
made a great deal of $. Two years ago our adviser told us to bail out and get
into money market accounts....we did. I haven't made any money in the last
year but my losses haven't exceed $500, guess I'm better off than most. Our
property losses are far greater on one of our houses, close to 50% and it
hasn't hit bottom yet....best guess 2010!
Gary

 

^+1

To a couple of the other posters out there-

-our market has been more deeply affected than the US.

-knowledgeable investing in the stock market is not the same as gambling or throwing money on poker table

-no one truly knows if we are close to the trough yet. most experts thought that 1000+ points ago


Good luck to all and keep the seat belts fastened

 

My stocks are down over %70 and my Mutual Funds about %20. This is a good time to be buying good stocks if you have cash on hand. Not worried though the market will come around eventually.