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re: Being "recession proof"
Posted on 7/8/13 at 2:33 pm to rintintin
Posted on 7/8/13 at 2:33 pm to rintintin
quote:
I hear stories of people who lost millions in the 2008 crash. Where does this money go? And can it be recovered?
Um I'm not sure if this is serious.
But....The money doesn't go anywhere till you sell the stock. You technically only lost money if the stock took a dump and then you sold.
Posted on 7/8/13 at 4:22 pm to barry
quote:
Um I'm not sure if this is serious.
But....The money doesn't go anywhere till you sell the stock. You technically only lost money if the stock took a dump and then you sold.
Which is what I was wondering in asking that question. Someone who "lost millions" would regain that money if they stayed put until the market rebounded. So the people who lost millions were people who dumped their stock when it crashed. Or people who held onto stock that never rebounded. Which brings up another question:
Which companies never rebounded? Thus leaving stockholders dry whether they held on or not. I know Lehman Brothers and another banking giant were left to crumble.
I told you I was naive to this.
Posted on 7/8/13 at 8:02 pm to barry
quote:This is a terrible way to view your portfolio. A lot of people believe this and it causes them to make bad moves, like ride a bad stock all the way into the ground believing they haven't actually lost the money yet. If you ask an expert if you should hold or sell a stock that you own, how much you paid for it will not factor into his decision, and it shouldn't.
You technically only lost money if the stock took a dump and then you sold.
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