Bloody hell - it's MELTDOWN on the FTSE

WTF?_2

GracieP wrote: »

The Dow has just taken a massive tumble in the last hour. I was starting to think it would close "up" today, but I can't see it recovering between now and closing.

'Only' down 2% though. These days, that's a result :money:

Treadmill

See the FTSE crash tomorrow, theres no big announcements to stop the pace. FTSE would have kept on going down past 8% without Brown and Darlings announcement and rate cut. As it was it finished at over 5% down and made the all time top 10 percentage falls, three of which have occured this month. It says something about the state of the equities market when a 5% fall is considered getting off lightly.

turbobob

Dow down 2%
NASDAQ down 0.83%
S&P 500 down 1.13%

Will be interesting to see what the Nikkei does overnight..

Dithering_Dad

borntobefree wrote: »

LOL:rotfl::rotfl:That's so funny 'cos I remember DD laughing at posters ( in his own inimitable way:rolleyes:) when they said they were moving their pension money to cash early in 2008. I remember this so clearly as I had just joined MSE. Apparently, moving your money to cash was for only for the truly financially foolish (imagine DD at his most dismissive) or people just about to retire. Bet you wish you'd listened and got out earlier hey DD. He's also chided people for using cash ISAs. This from a man who came to MSE because he owed a ton of money on credit cards.

And oh, the irony, then he had a campaign against Edinvestor for given poor financial advice LOL

DD Financial Wizard. Go buddy...:money:Buy High, Sell Low

Sorry btbf, but I don't remember this at all. The only 'advice' I've ever given on MSE is that people should build an emergency fund of at least 3xmonthly outgoings, make pension contributions and to pay down their debts.

We had a lot of people coming into the MFW board telling us that we were mad to pay our mortgages off because it was the 'cheapest debt you'll ever have' and that we should invest in the stockmarket insetad for greater returns. I argued that this was fine for long-term investments such as pensions, but for mortgage repayment it was the equivalent of using an endowment (and we all know how well they turned out).

I think I've since been vindicated on this advice with recent events.

If you're going to troll me, then please get your facts right. It's well known on the MFW site (and possibly in here now) that I have been consistent with the above views.

As far as EdInvestor is concerned, I had one run in with her about the way she gave direct advice to people, telling them to 'dump their endowments' or to 'stop paying into pensions and use ISAs instead' without taking the time to find anything out about the OP's individual circumstances. Direct advice is frowned upon on MSE, instead she should have provided information and allowed the OP to make their own decisions (a bit like dunstonh does).

I think I've been vindicated on this suggestion because I notice that Ed has modified her ways (after a few more people complained) and now provides suggestions instead of direct advice.

On the subject of cash ISA's; these are great for holding emergency money but not for long-term investing because of the erosion of savings by inflation. Anyone with any sort of financial experience (including Ed Investor) will tell you the same. Investing within a Stocks & Shares ISA in a cash fund is not the same as investing in cash ISAs. Again, I think you need to do some research on investing and the concept of actively managing a portfolio by moving money from risky stocks into more stable cash funds and government bonds during times of economic turbulence.

I feel I have been vindicated in moving my pension from volatile shares into Fixed interest bonds and cash because my portfolio would have dropped by £7k (so far) had I not actively managed it.

I hope this helps you in future - please try and remember it because on the three other attempts to troll me, you've used the exact same incorrect load of tosh.

You're a bit of a pathetic troll borntobefree, because every time you try to get one over me, you end up with egg on your face. As I remember last time, we had fun over one of your early posts where you created a thread simply to brag about you having a £650k house. Oh how we all laughed at you on that one. :rotfl:

Here was the 'brag' post you created:

Borntobefree making a fool of herself (again)

borntobefree wrote:

Hi

I am 45. I bought my first flat in 1987 in London. Since then I have paid out the following:-

£140k interest, £92K capital and £15k endowment, $15k moving costs. Total £262k.

Last summer someone would have paid £650k for my house.

My point is if I hadn't have bought I would have to rent. The current rental value of my house is £2.5k per month. My house would have to fall a long long way before I would have been better off renting...:D:cool:

B2bF"

Shame on you for making people who missed the boat on HPI feel worse and for trying to mock people who have to rent because they missed the boat.

Now go away B2bf, you sad person and try and calculate how much your "£650k house is worth now".

Pobby

Sharp recovery this morning. Now up 106 points. All this is freaking me out. Pass the valium please.

Realy

Pobby wrote: »

Sharp recovery this morning. Now up 106 points. All this is freaking me out. Pass the valium please.

They are trying to get rid of you before you can draw your pension.:D

Pobby

Well they are doing a good job methinks. Now where did I put that speach about boom and bust, oh yea, and the other one about not letting the housing market get out of control?

borntobefree

DD I can't provide the evidence because:-

1) I don't have the time to trawl through your stupid rantings/ posts
2) We all know you delete all your posts anyway and will have done this by now.

You DID tell posters not to put their pension money into cash early in the year.

As for the insults - water of a duck's back.:cool:

WTF?_2

borntobefree wrote: »

LOL:rotfl::rotfl:That's so funny 'cos I remember DD laughing at posters ( in his own inimitable way:rolleyes:) when they said they were moving their pension money to cash early in 2008. I remember this so clearly as I had just joined MSE. Apparently, moving your money to cash was for only for the truly financially foolish (imagine DD at his most dismissive) or people just about to retire. Bet you wish you'd listened and got out earlier hey DD. He's also chided people for using cash ISAs. This from a man who came to MSE because he owed a ton of money on credit cards.

And oh, the irony, then he had a campaign against Edinvestor for given poor financial advice LOL

DD Financial Wizard. Go buddy...:money:Buy High, Sell Low

I'd go back and take a look for that discussion but let me guess - Dithering Dad has deleted or edited all his 'contributions' yes? Am I right?

(I was PMed around the original time that DD first started laying into me by another member warning me about how DD'd done something similar to EdInvestor in other forums on the site before 'settling' in this group. I guess that's what the poster was referring to. :think: )

chucky

Born to be Free just give up now...

Just forget about this user name and create another one - less embarrassing for yourself... that's what all the other nutters do...