I bought some stock today

[mimitabby]

President Obama said now was the time to buy stock, so today I transferred funds out of a bonds account and put it into company stock. My company's stock is at an all time low, so if this gamble works, my money will double or better.

[Cary]

1. Godspeed. n/t

[Botany]

2. Now is the time to buy

as long as the company doesn't go belly up.

[bdamomma]

3. I hope it works out well for you.

[Jackpine Radical]

4. Better odds than a lottery ticket.

If you have a little cash to gamble, and are willing to wait a few years for the payoff, it's not a bad thing to do.

Personally, I'd invest in maybe Ford, because I don't think they'll actually fail, and eventually there's gonna be a market again for cars. Green cars.

[eridani]

5. Don't do it unless you are reasonably young

Suze Orman sez that nobody over 60 should be in the stock market. Also, diversification beyond one stock might be a good idea.

[mimitabby]

7. it's my retirement fund

most of my retirement fund is in very secure investments, but a little was still left in "funds" which of course, are a fraction of their former self. Why not use it to buy stock now? PS I'm 57

[DeschutesRiver]

32. Obama said "buying stocks is *potentially* a good deal if you have a long term perspective"

which isn't the same as telling everyone to buy stocks, which seemed to be how everyone took it. Key words: "potentially", and "long term perspective".

Given the current DOW 6800 approx: If I were a youngster, I'd still wait until we were about 10-20% off what I was reasonably certain was a bottom and then buy. If retirement was less than 10 years away, I wouldn't buy right now. If I had money I did NOT need for a fast approaching retirement, I'd do the same as if I were 20, and if it didn't work, who cares.

Couple of things to consider:

1. Something I noticed when viewing the DJIA chart: from about the 1950's until the early 1980's, the DOW never above 1,000. It was no to slow growth for nearly 30 years. The 14,000 high point is unusual. So far, we've slid back to 1996 levels.

http://finance.yahoo.com/echarts?s=%5EDJI#chart1:symbol=^dji;range=my;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined

2. There is plenty of "potential" for the market to bottom in the 3-4000 range, so could be as much as another 50% decline from our current 6800 range.

3. If your $100 stock declines 50% or to $50, you will need to make back 100% ($50 gain) just to get back to your original $100. That would take awhile even if the underlying company had no problems due this economic smashup, or esp. if the market does another 50s-80s style sideways movement with no to very small growth for the next 30 years.

So there is the "potential" that you will be 87 before you regain whatever is lost if we are not at a bottom right now. Not saying anything other than it is important to analyze this potential risk from all angles and not just think tha Obama gave a blanket "buy no matter where you are standing in life" recommendation.

I do hope it works out well for you in the end - good luck investing!

[Clio the Leo]

8. I plan on buying Suze and sending her to a deserted island somewhere...

..... with any earnings I make. The silence will be worth the cost.

[truebrit71]

9. Amen to that....

...

[eridani]

44. That she has more face time than strictly necessary--

--does not negate the fact that she has been right about a lot of things.

[DBoon]

11. thank you for the compliment!

I'm 53 years old, and being called "reasonably young" is a good thing to hear

[eridani]

45. There is a reasonable chance of recovery within 12 years before you turn 65

If your time frame is shorter than that, it would pay to be a bit more cautious.

[elleng]

24. Diversification is ALWAYS a good idea.

.

[Clio the Leo]

6. I'm planning to stick my toe in too.

Other than what's in my retirement portfolio, I've never bought stock. I have a little bit of cash to spend and it seems foolish not to at this point.

[polichick]

10. "If I can do it, you can do it." :)

http://www.youtube.com/watch?v=6vW9gUmooFg

[Bucky]

12. HA! I just posted a big ass rant on that

[mimitabby]

13. where is the ass rant?

link?

[Bucky]

14. My ass rants HERE

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=132&topic_id=8243214&mesg_id=8243214 My ass rants well

[Jennicut]

15. Those of us in our twenties or thirties can get away with it right now but everyone else should stay

out. We have years to wait and see the market rebound. Those who are near retirement or even in your fourties should protect your retirement. We have little in retirement to begin with.

[mimitabby]

17. those of us in our 50's

many of us who are "over the hill" have a lot more to play with than those of you in your 20's or 30's

I know a bargain when i see one.

[Jennicut]

18. True- we have very little in our budget to even spend on stocks but I worry about my parents

I want to see their money protected- they are both 61. :(

[ginnyinWI]

20. love your avatar!

My son worked on that movie. :) :) :) He's a CG modeler.

[Jennicut]

22. I adored that movie- my little girls talk about it constantly

They want to be Coraline for Halloween. Your son did a great job!

[ginnyinWI]

23. I'm excited for him.

He's not working for them anymore though--these guys move around from studio to studio a lot to get ahead. He's working for Animalogic right now--the people who made "Happy Feet".

[Jennicut]

28. Good luck to him. Must be a fun job.

:)

[KittyWampus]

56. I like your quilt signature.

:)

Been wondering if you made it.

[Justyce]

16. I'd like to invest a small amount, but I'm not really

sure what to invest in with so many companies going belly-up. Banks? Pharmaceutical companies? Insurance companies? Oil companies? Hmmm...

[ginnyinWI]

25. newbies should look into mutual funds.

They are a conglomeration of funds and tend to be more stable as the market goes up or down.

[Justyce]

30. Thank you both.

:hi:

[mimitabby]

33. aerospace

people are not going to stop flying and the airfleets are aging.

[elleng]

27. I agree with ginnyinWI,

mutual funds. Plenty research available on what/how they've done.

[slackmaster]

19. So if your company goes under

You lose both your job and your investment.

Been there, done that.

:argh:

[mimitabby]

21. i suppose that's true

but i didnt' dump ALL my retirement into stocks, just a small percentage. but more than I ever have before.

[CK_John]

26. Look at some staples like Clorox and food stuffs too. n/t.

[Froward69]

29. I bought Ford and GM

equal shares of both... I intend for a LONG TERM holding of them.

[AlCzervik]

31. We bought some about 2 months ago, it was my husband's turn to pick and he picked a loser

but we didn't invest a lot, you pays your money and you takes your chances. My pick is next, i'm still trying to figure out what to buy.

[TheCoxwain]

34. I was wondering whether to buy GE.. it was trading below 6 this morning.. and

Warren Buffet acquired 3 Billion worth roughly 20 bucks a pop at the time..

[we can do it]

47. I Got Some Last Month, Now I Might Get Some More

[totodeinhere]

35. Since so many stocks are worth next to nothing at this point,

I guess you don't have much to lose. And if by some miracle stocks rally, then you gain.

But personally, I am avoiding stocks like the plague right now because I don't think that the market has hit bottom yet.

[blindpig]

36. Useful idiots.

While I can certainly understand the motivation for the person of modest means to insure that they have money for retirement(necessary because social security is so inadequate) investment in the stock market is a dubious prospect.

Small time investors are useful idiots for the big fish in the pond. When you invest in the market you are effectively loaning your money to the big guys, providing them with more leverage which enables them to make more money. They make bunches, you make a bit, possibly a tidy sum, but when shit gets tough(and it always will given the cyclical nature of capitalism) they(usually with superior information to which you are not privy)bail in a big way and you're left holding an ever diminishing bag.

Is that not exactly what's going on now? And please don't go on about how much the big fish lose, it's a drop in the bucket to them and in no way affects their way of life. For many of us it means working until we're 70-75, like it or not, a massive loss of quality of life.

In any case the whole idea of profiting on the labor of others is obscene.

[demokatgurrl]

37. Please keep us posted. I'm still leery of it. n/t

[Two Americas]

38. why repeat the same mistakes?

Why repeat the same mistakes that got us into the mess?

This I cannot understand. The investment mentality ruined the country, and has crushed so many people. What we need is jobs, public infrastructure, and regulation of finance and capital. Wall Street works against all of that, and investing in it is certain to contribute to misery for the people. Haven't we learned that lesson yet?

I can remember what the country was like before Reaganomics, before everyone thought they were going to get rich by having their money - and their home - "work for them." The crazed grabbing for unearned wealth will always have horrific effects on a society, will always work against every cause we believe in, and also the game cannot be won by the small players.

Every dollar given to Wall Street is a dollar that will be put into the service of the right wing and used against us.

[mimitabby]

39. i didn't give my money to "wall street"

i gave my money to a company that i trust to do well and recover.

[TBF]

42. I assume your company is privately held? n/t

[Two Americas]

50. a family business?

A privately held company you mean?

[Lance_Boyle]

43. illogical and self-contradictory nonsense

"The investment mentality ruined the country..." "What we need is jobs, public infrastructure" <-- both of which require INVESTMENT.

[Two Americas]

51. public versus private investment

That is the decision. Private concerns don't build public infrastructure - their political agents have been busy as beavers destroying the public infrastructure.

The stock market does better when jobs are eliminated or outsourced and when wages are depressed. It is an Orwellian right wing talking point to call that "creating jobs."

I am taking a position oppositional to the right wing here. No more, no less.

[Hannah Bell]

61. buying stock, in most cases, doesn't = "investment". you're buying

the share not from the company to fund its capital needs, but from someone else like yourself.

[TBF]

40. I cashed out in 2000 and will bury money in my backyard before I give it to those yahoos.

These are the same people who took the bailout money (our tax money) and gave themselves huge bonuses and "retreats". In the past 3 months.

Remember your money is insured up to $250K in FDIC insured accounts through 2009. If you've got money past that you want to play with then ok, but think of it like a week at Vegas. Entertainment at best.

[iamthebandfanman]

41. i plan on doing the same by the end of the month

should have a lil cash saved up by then to make some small purchases (itll be my first go in the stock market)...

im 26 and figure ive got the time to 'let it ride' ...
lol

i dont plan on buying any expensive stocks tho, so ill be mostly investing in companies that i hope will make a recovery or possibly even new businesses to the market

[BooScout]

46. We've been buying stocks for months now....

Buy low...........sell high and never sell at a loss. We've done pretty well.

[Rockholm]

67. Very smart. Look at Citi. What 63 cents? It will go back up.

Somebody is going to do quite well.

[woolldog]

48. If you're going to buy stock....

please diversify. Don't put all your money into your company stock. What if the economy recovers but your company still boes belly-up? There are bad companies that fail in good economic times and in bad economic times.

If you're feeling healthy about the economy and the country's prospects then put your money into an index fund that mirrors the Dow Jones or the S&P 500. Don't bet all your money on one company. That's like going to Vegas and putting it all on Black.

[mimitabby]

55. good grief i put $1500 into the company!

My company is public, not private, and I am NOT sinking all my money into their stock.
what i meant is that i never ever buy stock, but this time i did, a whole $1500 worth.

[mzteris]

49. me, too - 6 cans

of veggie stock.

:rofl:

[leftstreet]

52. Only on DU. Investment threads and public assistance threads

Is it Class War yet?

:eyes:

[SoCalDem]

53. Soup stock is always a good bet

toss in some bones, some carrots, celery, onion, chopped potatoes, a bay leaf & you've got some tasty meals ahead :)

[MoonRiver]

54. You're brave.

My husband and I aren't going there. We're thinking about buying a couple of rental houses, though. We are just too close to retirement to take those kind of chances.

[ecstatic]

57. I want to too. Who manages your investments? Anyone else have

a good mgt firm they can recommend?

[snooper2]

58. I'm waiting till it hits about 58-5900

that's the bottom :)






I think :)

[garryowenII]

59. Way to go!!! I'm buying every other week.

[seemunkee]

60. Putting money in my companies stock purchase plan every pay check

Each quarter we get the stock at the closing price on the last day of the quarter minus a 15% discount. Right now its a good deal since analysts are listing us as a buy.

[bobburgster]

62. General Electric Stock?

Any thoughts on the viability of GE stock purchases at this time? $5.00 + or - a share seems hard to pass on.

[onlyadream]

65. I'm thinking the same thing...

when has it been this low?
It's still a gamble though - but the payoff can be big in 5-10 years.

[MilesColtrane]

63. Just remember that no more than 2/3rds of your retirement fund should be...

...in stocks at your age.

That percentage should be decreased as you reach retirement age. By 65 you don't want more than 30% of your portfolio in the market.

[Geek_Girl]

64. I bought some stock back in January

for 1.76/share it was a smaller company tech stock that seemed to be making profits despite the economy it's now up to 2.36/share.

I think it's just in what company's your invest in.
I really do believe this is a great time to buy stock if you have some cash lying around.

it's 101 of business Buy low Sell high!

[sfnative]

66. Good luck...

I was a day trader for many years. I don't see a bottom forming to the dow jones yet. It just broke the major support of 7500 set by the 2003/2004 sell off and that doesn't look good. When a stock or index breaks a well known support, traders panic and continue to sell and it takes quite a while for the bottom to form. I don't know what stock you picked, but you are brave for buying on the way down. I don't even a see a bottom forming with the DJIA yet. Just a pure downward sell off and that can be a dangerous place to buy.

Analysts often give buy/sell signals according to what will benefit their company or the owners of the company. Regular investors are often left holding the bag. Believe me, I learned the hard way in the 10 years I've traded. I thought the 2001 sell was bad. This sell off is catastrophic. I agree with DeschutesRiver's assessment of the possibility of the DJIA selling off to the support of 3800.

Good luck to all who are still invested in the market.