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Strategies & Market Trends : Galapagos Islands -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (56652)	11/20/2008 12:33:07 AM
From: Libbyt	Read Replies (1) \| Respond to of 57110

I know quite a few people who have cashed out their retirement funds. I do too....and those who are still in the market are very angry with "the system" and they are looking for someone to blame for the downturn in the market. Most people I know are "buy and hold" investors and they would never consider trading in the market. Some of the "buy and hold" investors are IMO starting to question if they've made the right decision. Others are ~still considering selling~ and having more diversified investments. I grew up in a fairly affluent area, and some individuals I know have literally lost a fortune. However, the fortune that they still have would be to most people considered an amazing net worth, and not a reason for severe depression! This downturn has affected almost everyone....from the very wealthy, to those who are barely getting by from pay check to pay check. The very wealthy are dropping their memberships in country clubs, giving up the show horses they kept for their teenage daughters, and firing some of the household help that they normally would employ. I know this doesn't sound like a hardship to most people, but the trickle down effect is hurting everyone. Everyone seems to be cutting back on unnecessary expenses. The positive aspect of this downturn has made more people really understand that true wealth lies in good health, family, and personal happiness. There are some things that money can't buy! Maybe some that will lose their job will find that there is another position that will be more rewarding. Some might find that they've been forced to make a change that in the long term will be more favorable to their personal happiness and their personal wealth. IMO in the future executive salaries of publicly traded companies as well as executive compensations are going to come under increased scrutiny. A private company won't have that scrutiny, since they won't have a responsibility to report to their shareholders. Maybe this market meltdown will force more companies to become privately owned?