All my shares down 40%

[ace00]

In hindsight yes,but at the time the doom and gloom o'meter was set to end of the world, just as it is now.

But the point is that 2001 was a sector collapse (I.T / telecoms). We are in the midst of a systemic collapse now.

[Ruprect]

Yesterday I looked in horror at the value of my personal pension that I've been pouring thousands in over the past 3 years since I've been contracting. It was worth 30% less than what I had paid in. Same goes for my ISAs and non-ISA funds. These falls are no respector of sector, continent or risk factor.

Today I find that the FTSE is down up to another 10%. This means each £100 I put into the market in the last 3 years is worth only about £60-65 now.

What a kick in the teeth for trying to do the right thing.

And it would not have been better buying a house. Stamp duty, house price falls, interest rates going up - fckd there too.

Cash? I have 30% of my portfolio in cash or premium bonds. But the return on this is less than real inflation.

If I'm this fckd then imagine how much pension funds are going to be hit by in every company in this country. Imagine how much hit insurance companies are who are invested in with-profits funds etc.

Totally fckd my friends.

It is god's will.

HTH.

[sasguru]

In hindsight yes,but at the time the doom and gloom o'meter was set to end of the world, just as it is now.

I think the doom and gloom o'meter is off the scale now.
But the point is valid.
It's different this time (TM) has switched to being used negatively now by the same mugs who used it positively in the boom.

[Bagpuss]

Fear and Greed, same as it ever was..........


<edit> seriously this has been on the cards for 5 years or so, Vince Cable et al warned about it. I bought a house in 04 and expected to see the price I bought it for again possibly less. I'm a realist..so I've been hording cash. However I never expected it to be this bad, where even cash isn't safe. The bull market has gone on too long we seem to have missed a downturn which means this one is like a double whammy. The whole financial system had been operating without sense. It's going to be painful, thankfully I have no mortgage or debts, I pitty those who do.

[contractor79]

It may well be God's will. We put our faith in rubbish corrupt financial systems and not in Him.

[AlfredJPruffock]

But the point is that 2001 was a sector collapse (I.T / telecoms). We are in the midst of a systemic collapse now.

Aye Ace

You are perfectly correct.

It is a systemic collapse.

Back in Feb I qouted Alan Greenspan , arguably the creator of this mayhem who said the Credit Crunch heralds 'A disturbing New Economic Reality'

Yet people here are still in the 'old way of thinking ' eg property prices will go up - the market will bounce back etc

Ive said it before and I will say it again -

Folks - you ain't seen nothing yet.

[Ruprect]

It may well be God's will. We put our faith in rubbish corrupt financial systems and not in Him.

So you're an old testament vengeful punishing god believer rather than the forgiving benevolent new testament type?

[AlfredJPruffock]

So you're an old testament vengeful punishing god believer rather than the forgiving benevolent new testament type?

The Lord Giveth and the Lord Taketh away.

The Lord Loves the One who Loves the Lord.

At the End Time Chant : Hare Hare - Hare Krishna - Hare Ramma

[Ruprect]

The Lord Giveth and the Lord Taketh away.

The Lord Loves the One who Loves the Lord.

At the End Time Chant : Hare Hare - Hare Krishna - Hare Ramma

And god said: "adam, thy shall stick it all on Red"
And Adam said: "but lord, I have a really good feeling about black"
And god said: "adam, the unbeliever will be punished. Stick it on Red"
And adam said: "ok lord, if you insist, you can be very pushy"
And lo, the croupier did spineth and it came up zero.
And god did laugheth and say "adam, why are you listening to me you fool, I am only a voice in your own head"

[NickFitz]

oh come on guys, property ain't exactly gonna grow year on year now that's dreaming

old rules no longer apply folks

There are, and always have been, only two rules:

1. The value of your investments can go down as well as up;
2. It is impossible to reliably predict which of those will happen next.