Colombian Market Drops 4.86+%, US Dow Drops 641 POINTS(2:19 pm) 6%+

Lipper says on Oct 6, 2008, 12:26:

By Lipper on Oct 6, 2008, 08:09 (today) in Off Topic.

If you own stock GET OUT NOW !

Not sure what happened to my post from a week ago but .........to all the people who said I was chicken little and sky is falling.............I TOLD YOU SO !

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miamimike says on Oct 6, 2008, 12:26:

En Colombia, la acción que más se desploma es Santander, en 16,16%; Ecopetrol, baja 5,03%. Las bolsas de Sao Paulo y Buenos Aires tuvieron que suspender operaciones. México cae en 6,07%.


La Bolsa de Valores de Colombia (BVC) cerró este lunes con una variación negativa del 4,86 por ciento en su índice general (IGBC), que quedó en 8.761,49 puntos por el desplome que registró la mayor parte de los mercados bursátiles.

En la jornada se negociaron papeles por un total de 131.603,09 millones pesos (unos 60,92 millones de dólares) en 2.707 operaciones.

La acción con el volumen más alto de negociación fue la de la Empresa Colombiana de Petróleos (Ecopetrol), que tuvo un descenso del 5,03 por ciento en su precio.

Las mayores caídas fueron para los papeles de Santander (16,15%), Éxito (6,59%) y Bancolombia (6,57%).

En lo que va del año el IGBC acumula un descenso del 18,07 por ciento.

Desde enero de 1999 no se suspendía dos veces en un mismo día las operaciones en el mercado bursátil de Brasil.

En Chile, el IPSA bajaba 6,8% a 2,430 puntos
http://www.portafolio.com.co/economia/finanzas/2008-10-06/ARTICULO-WEB...

On Sept 17, 2008: Senator John McCain said, as he had many times before, that he believed the fundamentals of the economy were "strong."Hours later he backpedaled, explaining that he had meant that American workers were Strong.

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miamimike says on Oct 6, 2008, 12:36:

For those who are waiting to buy that Colombian Condo at a great price, the day to buy may not be too far off.

Lipper-- Respectfully, I disagree with you. I have my faith in Investment Guru Warren Buffet of Berkshire Hathaway. He did exactly the opposite of what you suggest, he went out and bought 3 BILLION DOLLARS of General Electric Stock last week. Now, would Buffet, who knows a lot more about investing then any poster here on PBH, invest that massive amount if he believed the Market was a Loser. I think not,,,Now is a GREAT time to buy Quality Bluechip Stock if you have the funds, foresight and the stomach. Warren Buffet has all three in triplicate and thats why he is one of the world's Wealthiest persons,,,

On Sept 17, 2008: Senator John McCain said, as he had many times before, that he believed the fundamentals of the economy were "strong."Hours later he backpedaled, explaining that he had meant that American workers were Strong.

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bickerss says on Oct 6, 2008, 12:42:

miamimike - I agree, it could soon be a great time to buy with the peso going weaker and IMO prices that will fall. Have to agree with what you say on Buffet; he must be viewing these times with a huge amount of glee!! Just finishing one of his books now - great read.

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Ctg Bound says on Oct 6, 2008, 12:52:

Lipper,

Unless you think you are holding a bad stock.

Buy Buy Buy.

I don't play the markets anymore, but every time there has been a nice drop, I used to start throwing more money at it, and reducing the amount of cash at hand.

Any bull run, after a while start inceasing the amount of cash, seems obviouse but many do the opposite.

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miamimike says on Oct 6, 2008, 12:53:

Bickerss--Buffet was on the Charley Rose Show last week talking about the "WHY" of his investing 3 Billion $$ in GE Stock. He is ONE interesting person to say the least,,,Amazing he still lives in the same nondescript middle class house he bought decades ago, he doesn't wear his wealth on his sleeve for sure as many Bankrupt Wall street bankers did,,,he must be enjoying the last laugh

What Book on him are you reading?

On Sept 17, 2008: Senator John McCain said, as he had many times before, that he believed the fundamentals of the economy were "strong."Hours later he backpedaled, explaining that he had meant that American workers were Strong.

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bickerss says on Oct 6, 2008, 13:02:

Yes, he is a champ. I also follow closely Jim Rogers - another very smart man. Book is

Buffet the making of an american capitalist.
Great read.

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miamimike says on Oct 6, 2008, 13:08:

I'll have to check it out, Thx

BTW, just heard the Closing market price--the Dow was down at one point bt 800 points, but closed up(still down) by 500 points for "ONLY" a 300 point loss today. Big Money was made this afernoon by Day Traders of which I am not one of,,,

On Sept 17, 2008: Senator John McCain said, as he had many times before, that he believed the fundamentals of the economy were "strong."Hours later he backpedaled, explaining that he had meant that American workers were Strong.

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chingon says on Oct 6, 2008, 13:14:

I love watching the masses pull money out of the market as it drops then pour it in when it is high.. then blame someone else for the reason why they lost money. Stocks are low, you should be buying if you have the cash. Actually take your cash and put it under the mattress, it will be worth a lot in 20 years

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bickerss says on Oct 6, 2008, 13:16:

Try the Jim Rogers books as well - good read on an adventure and investing type theme.

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miamimike says on Oct 6, 2008, 13:21:

I've never read any of roger's Books yet, but Yes, He is also ONE interesting person. His Biking escapades alone are worth a read.

On Sept 17, 2008: Senator John McCain said, as he had many times before, that he believed the fundamentals of the economy were "strong."Hours later he backpedaled, explaining that he had meant that American workers were Strong.

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miamimike says on Oct 6, 2008, 13:26:

This None to happy Wall street Trader looks like he is going to Vomit as he looks at the Dow Volume Drop; http://www.miamiherald.com/

On Sept 17, 2008: Senator John McCain said, as he had many times before, that he believed the fundamentals of the economy were "strong."Hours later he backpedaled, explaining that he had meant that American workers were Strong.

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tomtom33 says on Oct 6, 2008, 13:27:

I would buy more stock if I could. However, 98% of my liquid money is already in stock. And it is staying there.

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BillBigD says on Oct 6, 2008, 13:27:

Buffett- Got to buy stock 10% below market price and also gets a 10% dividend per year. Not the same as you and I Miamimike. FYI he is down on this purchase right now, but I agree GE is a nice LONGTERM buy.

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Ctg Bound says on Oct 6, 2008, 13:44:

miamimike,

I don't read this sort of book normally, but it looks an interesting one:

http://www.ft.com/cms/s/0/e804eb80-8b5f-11dd-b634-0000779fd18c.html

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Lipper says on Oct 6, 2008, 14:08:

If you had gotten out last week when I TOLD YOU TOO, you could have jumped back in end of today and picked up some nicely under valued stocks! balk balk balk balk, chirp chirp chirp

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miamimike says on Oct 6, 2008, 14:26:

BillBigD says on Oct 6, 2008, 13:27 (today): flag

Buffett- Got to buy stock 10% below market price and also gets a 10% dividend per year. Not the same as you and I Miamimike. FYI he is down on this purchase right now, but I agree GE is a nice LONGTERM buy.
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BB ----my main point was that if Warren Buffet didn't have faith in the Market he wouldn't have invested 3 Billion $$$, no matter the 10% Sweetners you mention! I think that's a Valid Point! Since I once worked at GE(the Locomotive Div) located in my Hometown, actually down the street from my house and still having many old neighbors who still work there, I have always followed the stock closely. Hard to understand why, with their Huge Current Backlog of Foreign Backorders for the New Eco-Locomotives, why this stock hasn't been up more then it is. Its a great company!

On Sept 17, 2008: Senator John McCain said, as he had many times before, that he believed the fundamentals of the economy were "strong."Hours later he backpedaled, explaining that he had meant that American workers were Strong.

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spy1983 says on Oct 7, 2008, 10:49:

Yeah get all the weak hands out now please..Nice call after a 4,000 point drop already. You are a genius.

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spy1983 says on Oct 7, 2008, 10:50:

Miamimike...But they gave him terms no one else could get..And frankly I think it was more of a PR move. Which could be scary if they need to do that.

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BillBigD says on Oct 7, 2008, 18:53:

SPY-Your right on, terms were only for Buffett. Also they needed the money which is pretty scary. Makes you wonder if thier credit really should be rated AAA.

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gringoloid says on Oct 8, 2008, 10:14:

tomtom33 says on Oct 6, 2008, 13:27: flag

I would buy more stock if I could. However, 98% of my liquid money is already in stock. And it is staying there.

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so this is where you keep 98% of your money.........this chart really exudes a positive, upwards trend...........i mean this is sweet.........when i worked on wall st people would be all over me trying to get into a fund with a chart like this......

don't let not having anymore liquid money hold you back.......maybe you could sell one of your properties and put all of the proceeds in this fund......

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Tinto (Moderator) says on Oct 8, 2008, 10:38:

I'm tired of seeing pictures of brokers around the world with their head in their hands, rubbing their temples or some variation thereof. Every day in every country it's the same old thing; there's no creativity on the part of photographers. I'm ready for some pictures of people on the window ledge of a high rise building.

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gringoloid says on Oct 8, 2008, 10:43:

it's a strange story, but only two men jumped from the windows in the wall st area in 1929.......and six more in other parts of manhattan, making a total of 8 people. they made it sound like it was hundreds.

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asdfn says on Oct 8, 2008, 12:45:

well we already had a few guys bite the bullet now. some trader or broker or something shot up his whole family and then killed himself the other day, my coworker found the story I dont know where to pull it from.

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LDW says on Oct 8, 2008, 12:50:

And in international exchange markets, the US$ has been strong against all currencies except the Yen.

Good news for those retired in Colombia on fixed income sourced from the US.

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