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Market lost 632 billion today....did you peek?

17 years ago

Yes, it is only paper money until you go to sell, etc. And yes, it is pointless to look at daily changes in valuation, - the long haul is all that matters etc. And yes, it was a grand run, up until today. But that was quite a plummet. Worst in 5 years and a bit dizzying I must say.

I couldn't help myself. I peeked. Ouch.

How is your discipline? Did you peek? Are you stressing?

And where exactly did that $632 billion go anyway?

Comments (23)

3katz4me
17 years ago
Didn't peek - not stressing - I don't have anything in the market that I'm planning to take out anytime soon.
celticmoon
Original Author
17 years ago
Gibby, that is so mature and rational. I gotta get more like that.

I know I came through 2000-2002 relatively unscathed. Oblivious actually to the whole tumble. I was working more hours then and had no time to peek. Probably healthier for me in some ways!
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kudzu9
17 years ago
My concern is that I don't have more spare cash to pick up some bargains now! For those of us who have been investing for longer than the last few years, this is just another hiccup...
qdognj
17 years ago
Peek,no..Observed the decline moment by moment,guilty...And don't get too concerned because it is only a loss if you sell ;)
Looks like a positve open today, but there is more downside risk then upside gain over the short term..imho
zone_8grandma
17 years ago
Yes, I peeked (and winced). But we have a long term view, so not stressing. (Not happy, mind you, but not stressing).
I'll probably be watching CNBC periodically today....
western_pa_luann
17 years ago
Dh and I peeked, but we have no stress about it. In fact, we are plotting to do some extra investing today!
nancylouise5me
17 years ago
Nope didn't peek. Didn't matter, in it for the long haul. I'm like kudzu...looking at it as a way to invest more at lower prices. NancyLouise
steve_o
17 years ago
Ditto. I have so far to go before I need that money that the big swings aren't money earned or money lost.

However, it was a memory-jogger to think about rebalancing my portfolio. By now stocks probably are way overrepresented.
clg7067
17 years ago
The Dow isn't below $10,000, so I'm not worried.
celticmoon
Original Author
17 years ago
I am impressed. You all are so disciplined amd sensible. Good role models for me.

I have the discipline to 'stay the course' with my investment strategies. But I just have to look at the numbers meanwhile. And wince. And think idiotic thoughts like, "Oops, there goes my little red retirement Miata! Oh well." Pointless peeking.

I have a friend who always says, "Eh, it won't take any food off my table tonight." That's a healthy perspective too.
grainlady_ks
17 years ago
I told hubby I was taking money out of savings to contribute to my (housewife) IRA account. Buy low...

-Grainlady
quirk
17 years ago
No, but I update my "net worth" spreadsheet monthly, so I will tomorrow (1st of the month). But only because it's my "scheduled" peek. For a second I thought about buying some extra mutual fund shares, but I decided to stick to my normal buying schedule too. It's poor timing for me to buy extra; I'm "saving" for laser eye surgery, and don't want to put money I'm going to spend in a couple months into the market.

Last year, I hadn't been paying attention to the market, and was quite surprised at my normal monthly checkup to find a significant drop (I think about 7% or something that month?)... had to come home and ask my roommate (a finance investor for the World Bank) what the heck happened to the stock market this month! At least this time I know to expect it. (btw, she said "ups" are almost always gradual and "downs" are almost always sudden, so this would be part of the "normal ups and downs" of the market)
dave100
17 years ago
I've been waiting for a pullback like this to do a little bargain hunting. My idea is to wait 'till Friday and see how jittery investors feel about holding long positions over the weekend -- might be a good day to pick up a few shares here and there. Agreed, in the long scheme of things, this isn't even a speed bump yet.
housenewbie
17 years ago
Didn't peek; didn't even know about it until the mkts were closed.

Did peek today, at least at E-Trade. Nothing has particularly happened. I suppose my S&P 500 ira has taken a hit, again. I try to invest in non-correlated items so there's not a whole lot of roller-coastering in the entire portfolio.
Gina_W
17 years ago
Buy!
kudzu9
17 years ago
I read an analysis this morning that pointed out there have been about 200 trading days in the last century where the market has had bigger percentage losses than yesterday. Keep a longterm perspective and let others panic...
Chemocurl zn5b/6a Indiana
17 years ago
What? First I heard/read of it.

Just went and peeked...I feel as so many of you do.

Buy!
Keep a longterm perspective and let others panic.
in the long scheme of things, this isn't even a speed bump
(btw, she said "ups" are almost always gradual and "downs" are almost always sudden, so this would be part of the "normal ups and downs" of the market)
"Eh, it won't take any food off my table tonight.
I don't have anything in the market that I'm planning to take out anytime soon
Buy low...

Sue
joyfulguy
17 years ago
Chinese market was up over 100% in the past year, gov't. was concerned ...

... many components of Chinese market gov't. owned - so when gov't. talks ... they listen.

My money's still in my jeans - not enough correction, yet.

(Investment-related) "Shareclub" meets tonight - "Investment Group"'s different.

o j
chelone
17 years ago
I didn't even learn of the chaos until nearly 4PM that day; I'm in it for the long term, making myself sick by checking on "numbers" isn't the sort of stress and angst I need to add to my life.
ian_bc_north
17 years ago
Did I peek? Sure I did. Down about 2% and a bit more by now. Nothing to get stressed about. I did sell out one of my shakier stocks a couple of months ago and put the money into a government bond. The stock market has been looking pricey for some time now. BTW I am in Canada and Canadian bonds are paying about 4%.
jakkom
17 years ago
In the US, if inflation is running 2.7%, a 4% bond won't do much to keep you ahead, long term.

The Chinese stock market is underregulated, full of "froth" from unsophisticated investors, and gyrates wildly on rumors of what the Communist government might or might not do next. Most prudent investors work on the Hong Kong stock exchange, instead. The Beijing sell-off scared the markets for a variety of reasons, one of the biggest being that the Chinese hold an enormous amount of US debt, thanks to our idiocy in running up the deficit again, after finally achieving a balanced budget under Clinton. Any intimation that Beijing might stop or even reduce their buying US bonds scares the NYSE because it would be a big-item "hit".
Pipersville_Carol
17 years ago
No peeking here. I'm like you, clg7067, I only get concerned when the Dow goes below 10,000. The market seemed overheated lately anyway, it was due for a correction.
tom418
17 years ago
"The market seemed overheated lately anyway, it was due for a correction."

Well put.

I'm amazed at hom many investors had a screaming buying opportunity served to them on a silver platter last summer, and just waited and waited until November, at which time they said " Hmmm... The DOW was at 10700 in July, and now it's passing 12000. I think I'll buy some stocks now."

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