The Financial Markets

[TrebMaxx]

Just wondering if there are any financial gurus out in Chiefs land. I just recently inherited a modest sum of money and with the markets going crazy like they are right now I am not sure what to do with it. I will be seeing a financial adviser, but thought it would be interesting to see what others think.

Throw out your best opinions on what you would do if in my shoes.

[beavis]

Originally Posted by Stewie

Hindsight is 20/20 baby. No one invests when the market is crap, but they should. Looking back I'd say, "You're fools for not investing in 19xx or 20xx...!"

Tell me this. Are you dropping 10K today in this market? Are we at a bottom? I've heard 8500 before we hit bottom.

Um... you are just making my point for me. You say you would have lost a ton of money if you had invested at a certain time, but ignore the fact that the exact opposite would have happened had you selected a different time period 6 months later.

Most people should be dollar cost averaging, be it through their 401k or any other investment vehicle.

[Buehler445]

Originally Posted by TrebMaxx

This has been my thoughts all along. The stock market is just too shaky ATM. I also don't think it has bottomed out yet.

Thanks for all that posted their thoughts, lots of thought provoking dialogue. I even researched running a hog farm and realized really quickly that is definitely out of the picture.

The biggest thing is do your homework. Even do your homework on the people that are helping you with the homework.

[TrebMaxx]

Originally Posted by Buehler445

The biggest thing is do your homework. Even do your homework on the people that are helping you with the homework.

Very good advice!

[petegz28]

I will tell you now "asset allocation" is the key to long term finacial success. A good financial planner will help you put together a good solid portifolio. Remember 3 things..

1. No one cares about your money more than you, so learn about money
2. It's not what you make, it's what you keep
3. The hardest part of making money in the market is the waiting.

As far as mutual funds go, stock mutual funds are 10-15 year investments unless you are lump sum investing, which I would advise you not to do.

[petegz28]

Originally Posted by Fairplay

Exactly my thinking Stewie. Everyone seems to think we already hit the bottom and are going up from here on out a couple days ago.

I disagree, but thats just me.

Why would you think we would keep going down?

Keep in mind that everyone who said the first dip down, way back last year, was screaming that it was a buying opportunity. Those very same people now are screaming things will still go lower and the end of the world is upon us.

The biggest problem is you don't "hit" a bottom. That is a daytrading mentality. Bottoms are "formed" over time.

My guess is we have probably seen the lows. We will back and fill, maybe retest the lows even, over the next month or two, then we will get a strong move which should start the first leg of the next bull market based on stronger than expected x-mas shopping due to oil and energy easing.

Couple that with the fact that the Fed and now the rest of the world have all but backstopped the market, it is clear that what has been driving us down will be resolved and removed from the equation.

[88TG88]