Fun times on Wall Street ahead for Monday

Catbird · 06-03-2012, 11:56 PM

Based on the Asian/Pacific markets, it's going to be an interesting day.

CNBC via Twitter:
"MARKET FLASH: Shares of SONY fall below 1,000 Yen for the first time since 1984."

WSJ via Twitter:
"Japan's Topix Index falls to its lowest mark since 1983 "

Sydney Morning Herald:
"The ASX200 has dived below 4000, wiping another $20 billion off the value of the local market as global woes grow. "

sandyd · 06-04-2012, 12:02 AM

If I didn't think it was gonna get worse, it'd be a great time to buy

jason · 06-04-2012, 12:07 AM

I just pulled the max I could out of my 401k into an IRA so I can play the markets.

sandyd · 06-04-2012, 12:11 AM

Best of luck to you jason

jason · 06-04-2012, 12:14 AM

It's all funny money anyway.

rb. · 06-04-2012, 12:18 AM

After working in an office of Canada's largest investment company this year, I can't imagine ever putting my money into the markets. Buying rental property will give me a much better ROI, and the harder I work for it, the more secure that small, cash investment is, and the better the return.

Good luck, Jason.

jason · 06-04-2012, 12:21 AM

rb. I'm stuck with money in the market in some form or another. I can't liquidate my 401k completely. The options given to me are limited in the 401k (it's really bonds, or some random company index [large, small, non-US]), so the IRA gives me control of my own destiny.

Additionally if I see something happening, moving assets in the 401k is slow, and doing it more than a couple of times results in the loss of being able to move assets for 6 months (because they consider you a trader instead of an investor)

sandyd · 06-04-2012, 12:28 AM

http://www.indexq.org/

Our 401k has a lame cash option so I'm getting almost no return but I got the damn numbers as cash on a paper.

Lets me sleep at night.

rb. · 06-04-2012, 12:33 AM

I understand the limitations, Jason. We have similar issues up here with registered accounts...RRSP (registered retirement savings plans), RESP (education), TFSAs (tax free savings accounts), etc. it is for this reason we don't willingly invest in them (outside of an emergency fund in a cash TFSA). Dh has a small LIRA (locked in retirement account) from a previous employer's contributions. All we can do is move it around in crappy options, the best is just a term deposit or GIC, which doesn't even keep up with inflation. Our view the last five years has been that paying off debt (only at 5%) pays more than investing in traditional markets. Til now.