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...the market is crashing and he wants to sell before we lose everything.
That is the mentality that causes people to lose money in the stock and bond market. Sure the market is down, but selling now will only guarantee losses. You essentially bought high sold low. Which is the opposite of what is good.
Right now is a prime time to invest money because truthfully the market can't sink too much lower from what I've been looking at. I believe the bubble popped and we are on the rebound.
Free markets work if people will let them, and they will also bite back if you try to tamper with them. Which is what happened. A group of people got greedy/stupid and now the markets bit back; big time.
I'm currently watching a couple energy companies, one in particular that was was trading at an average of $100 and is now trading ~$25. Mainly due to the fact that one of their primary lenders was one of the banks that went bankrupt amid the crisis. Anyway, they had to divest some assets in order to keep from getting put into junk status. But I have faith in their CEO. He has brought several companies out of near failure and has a square head on his shoulders. He seems very magnanimous which is what I look for. Not to mention the company's assets and operations are diversified, they have a strong foundation,
But I digress. Unless you absolutely had to sell (which shouldn't be the case anyway because you shouldn't invest money you may need within the next 5-10 years since stocks aren't all that liquid) then that was not the wisest decision. Anyway...
Regarding the market on the whole, not necesarrily your financial situation Sweetdragon.
On that regard, the company that owns my TV studio has watched it's stock take a complete dump. When they bought our studio almost 3 years ago their stock was near $10/share. As of friday it was .47 cents a share.
If I had the extra money, my goodness would I gobble that stock up.
The company bought more studios then they could handle, coupled with that good old buzzword 'these tough economic times'. They'll sell the lesser stations and rebound. If only I made enough money to have extra to spend I'd ride that wave all the way in...
soo....what exactly is the company that owns your studio?
Would that be insider information?
Would that be insider information? I'd take it if it were in the form of a friendly pm. :bigggrin:
Icrontic — Home of the Big Beef Burrito since 8-8-2000, fool.
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