Stock Market and The Elder

Apostanator

I had some money to invest back around 1999. An elder from my old congregation worked at Morgan Stanley, he recomended to me a stock named Delphi. This was a relatively new issue back then and he said it was a good stock with a good dividend. I did not buy it because my gut feeling was telling me that he was pushing the stock and was in it for the commision. Anyway, today the trading in Delphi was halted on the New York stock exchange it went below a buck. This ass of an elder said it was a good buy when he tried to sell it to me at $20.00 per share!!! Man.....The longer I'm out, the more I trust my gut !!!! I guess, buyer beware even from a so called friend.

candidlynuts

guts are a good thing to have..

but.. regarding delphi...... you watch, it employs/employed thousands of americans...its filing bankruptcy and i bet you a dozen toothpicks that in a year or two they " restructure" and start manufacturing in mexico/ india/china, somewhere with cheaper labor and whammo! their stock will be waay on up there again.

Jourles

Any financial advisor who points you to put most, if not all of your money into one stock or company, is probably doing it out of emotional or commission based reasons. People get emotionally attached to stocks and try to persuade their friends and family to join in too, without doing any DD. Other "professional" financial brokers might be getting a small percentage of a "stock of the week" that their institution is pushing(doesn't really happen anymore in the big firms).

Either way you look at it, never go all in with one stock unless you've got the extra disposable cash to lose. You never know what can happen. Diversify, diversify, diversify. Pick one or two stocks from various different markets -- such as one stock from tech, one stock from bio, one stock from energy, and so on. Research thoroughly.

Jourles, of the "got nailed pretty bad in 2001 by being overweight in tech class"

p.s. Delphi was doing average back in '99. But in the last year or so, the writing was beginning to be seen on the wall. The US auto industry may go the way of the airline industry.

Jourles

their stock will be waay on up there again.

That's the problem. With almost every bankruptcy filing, the common stock(that the general public can buy) gets wiped out. Even the bond holders pretty much get screwed. Right now, only the short term day traders can manipulate the stock. But we're talking only pennies in either direction. Very risky to put a lot of money into just to play.

I quit!

A dub working as a stock broker, that's interesting. I would think there would be too many conflicts of interest for a dub to be a good broker. Anyway I think it is dangerous to give anyone advise on the market. I would feel bad if they lost a lot of money.

one

The US auto industry may go the way of the airline industry.

I dont know what the real problem is/was with airlines (too much competiton or what) but transition is under way in the auto industry, some will be winners.

watch gasoline, hybrids and hydrogen/ICE to fully electrical powered by hydrogen-fuel-cells as soon as the oil industry find the way to keep control of the fuel source, not easy.

rembember dos, ms-dos, windows, windos95, XP.

Innovation, everyone had to follow one man, Bill Gates.the winner.

BTW

TV an PC will be one thing pushed by digital tv transmission, DTV (and Gates) and high definition digital tv HDTV

Dansk

I remember an article in an old Watchtower or Awake stating that buying stocks and shares isn't gambling. It didn't sit right with me as I thought of the Wall Street Crash - and other stock market crashes since. To me, stocks and shares is gambling (no, I'm not against gambling - but I was as a Dub!).

Anyway, since leaving Dubdom I realised how the Borg invests in stocks and shares and THAT'S the real reason it states it isn't gambling. HYPOCRITES!!

As everyone knows, one can easily lose money on the stock market as one can by doing the lottery. I've put money on the lottery a few times with my wife. Won a couple of tenners (or, rather, Claire did), which is about $30.00. I've considered investing in stocks and shares but don't know where to start. I know there are certain ones that are considered safe.

Interesting thread!

Ian

upside/down

Yeah yeah...

Anyone here remember Level3 stock?

All the Dubbies were gonna be "spiritual" Warren Buffets... Jojoba was certainly going to bless this stock...and make all the Dubbies rich...so they could "pioneer"...uh...riiiiight.

I laugh...so MANY self-righteous, arrogant...Dubbies (all my in-laws) put ALL there eggs in the Level3 basket...it ain't worth SHIT!

hahahahahahahaha

u/d(of the you know it's all Satan's fault class)

RunningMan

Well, bear in mind what was going on with stocks in the late 90s. Just about anything would make a lot of money. He may have legitimately believed in the stock. However, the most important thing to remember with any investment, is that you should pick an investment that matches your personal risk profile. If you have loose cash and are willing to roll the dice, don't invest any more than you can afford to lose. If you can't afford to lose, pick something more conservative.

upside/down

If you have loose cash and are willing to roll the dice,

Hmmm....are we talking about the stock market or Vegas?

Oh that's right...if it's bequeathable....it's OK...as long as you bequeath it to "mother".

I wonder if I leave a stack of 1000 dollar black chips to "mother", if she'd take 'em....? Hell yes she would.

Hypocritical Bitch....

u/d(of the WTS is a snare and a racket class)

Stock Market and The Elder

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