tag:blogger.com,1999:blog-27697009.post5033634162600197495..comments2024-02-29T03:21:35.007-08:00Comments on The Great Depression of 2006 : The Impeding HangoverJim in San Marcoshttp://www.blogger.com/profile/09435296419912935381noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-27697009.post-8159058209978253522007-08-03T22:19:00.000-07:002007-08-03T22:19:00.000-07:00Hi Anon 8:08I think I could cut and paste your rem...Hi Anon 8:08<BR/><BR/>I think I could cut and paste your remarks into my own biography, we think a lot alike.<BR/><BR/>The only thing I would add is, don't try to get rich. There are way too many people that want to help you in that endeavor, at your expense.<BR/><BR/>Sadly as you suggest, most people are too busy working to bother with the investment side. They pay for it in the end.<BR/><BR/>Life is a lot shorter than you think is is!<BR/><BR/>Thank you for your comments.Jim in San Marcoshttps://www.blogger.com/profile/09435296419912935381noreply@blogger.comtag:blogger.com,1999:blog-27697009.post-75915149212540313972007-08-03T20:08:00.000-07:002007-08-03T20:08:00.000-07:00I'm just an average guy who became a millionaire t...I'm just an average guy who became a millionaire through hard work. Politics had nothing to do with it.<BR/><BR/>I accumulated wealth because I was willing to work and I learned about money and finance.<BR/><BR/>The sad but painful reality is that those who don't understand money, which probably describes the majority of the US popluation, will never accumulate very much wealth, regardless of which political party they choose to support.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-27697009.post-11266253326095895062007-08-01T19:56:00.000-07:002007-08-01T19:56:00.000-07:00Hi Anon 11:35A lot of times what I think is not ex...Hi Anon 11:35<BR/><BR/>A lot of times what I think is not exactly what I say, I apologize. What I meant about 1974 was that very few people were in the stock market. You couldn't really buy 10 shares of stock at a time, the commissions would eat you alive. 10 shares of ATT at $15 would cost $150 for the shares and $300 commission plus $35 for an odd lot fee. A hundred shares would cost $1,500 plus $300 commission. So the middle class was not in the market.<BR/><BR/>A lot of the stock owners in the 74 bear market didn't sell, because the dividends were not cut. In actuality their yield on the investment went up as the stock price went down.<BR/><BR/>My major point in this article was to illustrate how almost everyone is now involved in the stock market.<BR/><BR/>Remember, 1929 burned people so bad that they were still not in the market until the early '80's--give or take a decadeJim in San Marcoshttps://www.blogger.com/profile/09435296419912935381noreply@blogger.comtag:blogger.com,1999:blog-27697009.post-86394971498665899542007-08-01T11:35:00.000-07:002007-08-01T11:35:00.000-07:00A bear market started in 1974 that did some damage...<I>A bear market started in 1974 that did some damage, but it didn’t really affect the general population (the DJIA went to 607). It affected the rich and the well to do, their net worth dropped considerably.</I><BR/><BR/>I disagree. It did affect the general population, in that it mobilized the rich to take back the modest gains that had been made by the poor and working classes, ushering in the "Reagan Revolution", the effects of which we are still suffering through.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-27697009.post-12293756340697275312007-07-30T19:30:00.000-07:002007-07-30T19:30:00.000-07:00I have a ramdom sampling to prove your point. Just...I have a ramdom sampling to prove your point. Just for fun, I signed up to play BeatTheStreet stock trading game. <BR/>All I did was short a basket of the home builders. Today my rank was in the top 1% and my gains are only a 1/3 of the leaders.<BR/>This game has 23,000 people registered. I did not do anything but the obvious (short homebuilders) and I am doing better than 99% (23,000) peopleI'm Not POTUShttps://www.blogger.com/profile/06885542838234710249noreply@blogger.com