"Did you open it?"


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"Did you open it?"

Postby gh » Wed Oct 22, 2008 10:19 am

Has this bit of catchphrase caught up with you yet? No end of people now ask that question, referring, of course, to your latest 401k/IRA statement.

From my small circle of experience, the answer for most is no! They know the news is bad and prefer to take the Scarlett O'Hara route.
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Postby gm » Wed Oct 22, 2008 10:34 am

I'm down to $259...anyone wanna trade? :)
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Re: "Did you open it?"

Postby tandfman » Wed Oct 22, 2008 12:20 pm

gh wrote:Has this bit of catchphrase caught up with you yet? No end of people now ask that question, referring, of course, to your latest 401k/IRA statement.

From my small circle of experience, the answer for most is no! They know the news is bad and prefer to take the Scarlett O'Hara route.

If people were afraid to open their third quarter statement, which reported their values as of 9/30, they're not going to want the year-end statement even to be put in their mailbox, assuming things keep heading the way they have headed been since 9/30.

Another bad day in the equity markets today, all over the world. USA probably worst of all.
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Re: "Did you open it?"

Postby malmo » Wed Oct 22, 2008 12:46 pm

gh wrote:Has this bit of catchphrase caught up with you yet? No end of people now ask that question, referring, of course, to your latest 401k/IRA statement.

From my small circle of experience, the answer for most is no! They know the news is bad and prefer to take the Scarlett O'Hara route.


The year is 2008. People manage their 401k accounts online in this day and age. Your 401k statement is already old news.
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Re: "Did you open it?"

Postby tandfman » Wed Oct 22, 2008 1:22 pm

malmo wrote:The year is 2008. People manage their 401k accounts online in this day and age.

Some people do and some people don't. Many people decide on an investment allocation that makes sense, and just stick with it, looking at their balance only when the statements come, if that often. If it's truly a retirement savings account, and retirement is many years away, there's not much point in worrying about it on a daily basis or managing it online.

Of course some people have nothing to worry about because they've chosen to ignore equities all along. Over the years, they've foregone much growth opportunity but they've slept better.
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Re: "Did you open it?"

Postby Marlow » Wed Oct 22, 2008 1:25 pm

tandfman wrote:Of course some people have nothing to worry about because they've chosen to ignore equities all along. Over the years, they've foregone much growth opportunity but they've slept better.


I am so freakin' brilliant, I did them one better. I not only stayed out of equities, I turned a cold, hard shoulder to stocks, bonds, mutual funds . . . :twisted:

Them 20s in the mattress are starting to look mighty fine from where I'm astanding!!
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Postby tandfman » Wed Oct 22, 2008 1:41 pm

Not as fine as a 401(k) invested entirely in a fixed account.
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Re: "Did you open it?"

Postby malmo » Wed Oct 22, 2008 2:36 pm

Marlow wrote:
tandfman wrote:Of course some people have nothing to worry about because they've chosen to ignore equities all along. Over the years, they've foregone much growth opportunity but they've slept better.


I am so freakin' brilliant, I did them one better. I not only stayed out of equities, I turned a cold, hard shoulder to stocks, bonds, mutual funds . . . :twisted:

Them 20s in the mattress are starting to look mighty fine from where I'm astanding!!


psssst, tracknut ....stocks are equities.
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Postby tandfman » Wed Oct 22, 2008 2:50 pm

Mattress guys don't have to know that. :)
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Re: "Did you open it?"

Postby gh » Wed Oct 22, 2008 3:00 pm

malmo wrote:
gh wrote:Has this bit of catchphrase caught up with you yet? No end of people now ask that question, referring, of course, to your latest 401k/IRA statement.

From my small circle of experience, the answer for most is no! They know the news is bad and prefer to take the Scarlett O'Hara route.


The year is 2008. People manage their 401k accounts online in this day and age. Your 401k statement is already old news.


I don't, and apparently all the people who said the same line to me don't either. Sorry we're not all as hip as you.
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Re: "Did you open it?"

Postby SQUACKEE » Wed Oct 22, 2008 3:04 pm

gh wrote:
malmo wrote:
gh wrote:Has this bit of catchphrase caught up with you yet? No end of people now ask that question, referring, of course, to your latest 401k/IRA statement.

From my small circle of experience, the answer for most is no! They know the news is bad and prefer to take the Scarlett O'Hara route.


The year is 2008. People manage their 401k accounts online in this day and age. Your 401k statement is already old news.


I don't, and apparently all the people who said the same line to me don't either. Sorry we're not all as hip as you.


I dont check my 401k online. I am in it for the long run, not gonna change it, have a high risk and low risk stuff, dont really understand any of it And i will open my statement when i get it and sigh and have a cold one. :D
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Postby Cooter Brown » Wed Oct 22, 2008 5:30 pm

Lost 33% so far! Woo hoo. good thing i'm 25 years from retirement. Time to buy more shares.
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Postby hammer forever » Wed Oct 22, 2008 6:06 pm

today the on-line website for my 401(k) said "closed for repairs".

In another matter, I just participated in a "national transportation survey" supposedly sponsored by the national government; the introductory letter said there would be over a thousand participants- and in the first envelope with the introductory material was a five dollar bill! Then when I received the "travel diary" in the mail, two singles! I did the diary part, was called on the phone and dictated my destination and mode of transportation information to the individual who called- now I'm waiting for more money......
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Re: "Did you open it?"

Postby malmo » Wed Oct 22, 2008 7:22 pm

gh wrote:
malmo wrote:
gh wrote:Has this bit of catchphrase caught up with you yet? No end of people now ask that question, referring, of course, to your latest 401k/IRA statement.

From my small circle of experience, the answer for most is no! They know the news is bad and prefer to take the Scarlett O'Hara route.


The year is 2008. People manage their 401k accounts online in this day and age. Your 401k statement is already old news.


I don't, and apparently all the people who said the same line to me don't either. Sorry we're not all as hip as you.


Hip? Is that some sort of childish state of consciousness to ascribe to in the Bay Area?

You're a grown man. It's 2008. We are in the information age. It's your money. You should know what's going on with it.
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Postby malmo » Wed Oct 22, 2008 7:28 pm

tandfman wrote:Mattress guys don't have to know that. :)


Your account at First Mattress Bank is insured by FDIC (Fire Department is Coming)

Nothing to worry about.
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Re: "Did you open it?"

Postby DrJay » Wed Oct 22, 2008 7:54 pm

SQUACKEE wrote: And i will open my statement when i get it and sigh and have a cold one. :D


Best investment strategy I've heard in along time. :)
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Re: "Did you open it?"

Postby gh » Wed Oct 22, 2008 8:06 pm

malmo wrote:
gh wrote:
malmo wrote:
gh wrote:Has this bit of catchphrase caught up with you yet? No end of people now ask that question, referring, of course, to your latest 401k/IRA statement.

From my small circle of experience, the answer for most is no! They know the news is bad and prefer to take the Scarlett O'Hara route.


The year is 2008. People manage their 401k accounts online in this day and age. Your 401k statement is already old news.


I don't, and apparently all the people who said the same line to me don't either. Sorry we're not all as hip as you.


Hip? Is that some sort of childish state of consciousness to ascribe to in the Bay Area?

You're a grown man. It's 2008. We are in the information age. It's your money. You should know what's going on with it.


My money is safe and I don't need to log on to find out. I spend too much time online as-is. Your holier-than-thou attitude is wearing very thin here.
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Postby gh » Wed Oct 22, 2008 8:17 pm

I've also had enough of your blanket assignation of "Bay Area" attributes. Or any area to anyone; am I making myself clear?
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Re: "Did you open it?"

Postby malmo » Wed Oct 22, 2008 8:51 pm

gh wrote:Hip? Is that some sort of childish state of consciousness to ascribe to in the Bay Area?

You're a grown man. It's 2008. We are in the information age. It's your money. You should know what's going on with it.


My money is safe and I don't need to log on to find out. I spend too much time online as-is. Your holier-than-thou attitude is wearing very thin here.[/quote]

Holier than thou? It's a straightforward, common sense observation for the 'hip crowd'. Sorry it bothers you, you should just say 'thank you.'
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Postby malmo » Wed Oct 22, 2008 8:54 pm

duplicate post
Last edited by malmo on Thu Oct 23, 2008 7:15 am, edited 1 time in total.
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Postby malmo » Wed Oct 22, 2008 10:41 pm

I've also had enough of your blanket assignation of "Bay Area" attributes. Or any area to anyone; am I making myself clear?[/quote]

I'd love to see the day when you abide by your own rules. But they're so vague who could possibly know where the landmines are.

Since you are the primary starter of political threads, and have a blind eye to posts that are clearly political, unless that is, they run contrary to your political tastes. When that happens you come down hard with irrational threats of banishment.

Perhaps it would be best that you lead by example and quit starting and allowing ALL political threads. I assure you that we guests would follow your lead and you might even get more traffic here. More than a few lurkers feel the hostile vibe that predominates this place and are discouraged from participating. All of them want to talk track without having to sift through your political biases and hidden landmines.
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Re: "Did you open it?"

Postby Marlow » Thu Oct 23, 2008 3:47 am

malmo wrote:psssst, tracknut ....stocks are equities.

See? Sometimes ignorance IS bliss! I bet I've lost less money that ANYONE else here!! 8-)
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Postby gh » Thu Oct 23, 2008 8:17 am

malmo wrote:I've also had enough of your blanket assignation of "Bay Area" attributes. Or any area to anyone; am I making myself clear?


I'd love to see the day when you abide by your own rules. But they're so vague who could possibly know where the landmines are.

Since you are the primary starter of political threads, and have a blind eye to posts that are clearly political, unless that is, they run contrary to your political tastes. When that happens you come down hard with irrational threats of banishment.

Perhaps it would be best that you lead by example and quit starting and allowing ALL political threads. I assure you that we guests would follow your lead and you might even get more traffic here. More than a few lurkers feel the hostile vibe that predominates this place and are discouraged from participating. All of them want to talk track without having to sift through your political biases and hidden landmines.[/quote]

Allow me to make life easier for you by suggesting that you channel a corollary to the Law of Holes (when you're in one, stop digging) that we'll call the Law of Minefields: when you're in one, stop walking.

And I'll make it easier for you; you may continue to post on the track-related Forums, but since this one is too tough for you, you're no longer welcome here. Any posts by you here will be considered a request to ban you from the other forums as well. Is that clear enough for you?

This thread had nothing to do with politics until you started your sociopathic piss on other peoples' discourse. We don't need your ongoing insults.
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Postby bad hammy » Thu Oct 23, 2008 8:26 am

malmo wrote:More than a few lurkers feel the hostile vibe that predominates this place and are discouraged from participating.

Waaay too ironically funny, coming from the most hostile regular around.
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Postby SQUACKEE » Thu Oct 23, 2008 8:33 am

bad hammy wrote:
malmo wrote:More than a few lurkers feel the hostile vibe that predominates this place and are discouraged from participating.

Waaay too ironically funny, coming from the most hostile regular around.


When he went after my wife instead of me i decided to ignore him forever. Thank you Garry. I think i love you. :P
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Postby Daisy » Thu Oct 23, 2008 8:44 am

bad hammy wrote:
malmo wrote:More than a few lurkers feel the hostile vibe that predominates this place and are discouraged from participating.

Waaay too ironically funny, coming from the most hostile regular around.


I think its fair to say that it can get pretty intense around here sometimes. But that is normal for any message board and this one is far less problematic than others i have seen.
Last edited by Daisy on Thu Oct 23, 2008 10:16 am, edited 1 time in total.
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Postby lonewolf » Thu Oct 23, 2008 8:55 am

I have Good News-Bad News stories as relates to investments in equities.

Good News: I have not lost a penny in the current stock market. I essentially liquidated stocks two years ago, and invested most of the money in a "can't miss" refinery refurbishment that was destined to make me rich AND famous. :)

Bad News: I lost it early. The refinery project collapsed under the weight of Environmental Regulations and I took a whupping. :(

Good News#2: I invested the rest of the money in a secondary recovery project in a mature oil field, which has proven to be a brilliant move that will more than compensate for the refinery debacle.. :D

Bad News#2: Well head price of crude oil has dropped from $147/bbl to $70/bbl. :cry:
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Postby SQUACKEE » Thu Oct 23, 2008 9:05 am

lonewolf wrote:Bad News#2: Well head price of crude oil has dropped from $147/bbl to $70/bbl. :cry:


And why is this bad news? :P
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Postby kuha » Thu Oct 23, 2008 9:06 am

bad hammy wrote:
malmo wrote:More than a few lurkers feel the hostile vibe that predominates this place and are discouraged from participating.

Waaay too ironically funny, coming from the most hostile regular around.


I'll add my "second" to bh's observation.
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Postby Mighty Favog » Thu Oct 23, 2008 9:40 am

Getting back to the original topic...

I have a defined-benefit retirement that my employer can't touch (state teacher system) so my 401k is more of a plan for living well at retirement instead of simply paying bills. In terms of track fans, in retirement I'd like to go to Zurich and failing that maybe Penn but the current statement makes it look like the HS dual meet down the block is in order. But I've got 22 more years to wait and see...

If gh is Moe, is malmo Larry or Curly?
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Postby Marlow » Thu Oct 23, 2008 9:56 am

Daisy wrote:He went after your wife Squackee? That's more than intense, apparently the irony label sticks.

That was a low-point, even for him. :(
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Postby lonewolf » Thu Oct 23, 2008 1:05 pm

SQUACKEE wrote:
lonewolf wrote:Bad News#2: Well head price of crude oil has dropped from $147/bbl to $70/bbl. :cry:


And why is this bad news? :P


Well, bad news for me: My income is down over 50%. While I may save $40-$50 month at the retail gasoline pump, I lose many thousands in income. Income that is derived from investing at $150/bbl expenses and operating costs which must be recovered from $70/bbl oil.

Actually, "cheap" oil is not necessarily good for even those outside the oil industry. It is all one big domino game. Massive layoffs in the oilbiz will affect jobs and spending in other facets of the economy. Reduction in capital spending will result in less production and less taxes at both corporate and individual level.

It is short sighted to groan over "obscene" profits in the oil industry when they are actually far less than the ROI in many other industries. Most people outside the industry have no comprehension of the humongous amount of capital required to acquire leases, perform exploratory surveys, conduct seismic, drill wells (of which are 90% wildcats are dry holes) and develop production and transportation facillities. The fact that Company X made $ Y profit is meaningless and irrelevant.

And, BTW, chances are part of your managed 401 K is invested in oil.

I could go on but suffice it to say, I took little solace at filling up a $2.17/gallon this morning
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Postby bad hammy » Thu Oct 23, 2008 1:11 pm

lonewolf wrote:It is short sighted to groan over "obscene" profits in the oil industry when they are actually far less than the ROI in many other industries. Most people outside the industry have no comprehension of the humongous amount of capital required to acquire leases, perform exploratory surveys, conduct seismic, drill wells (of which are 90% wildcats are dry holes) and develop production and transportation facillities. The fact that Company X made $ Y profit is meaningless and irrelevant.

You sound like an oil company shill . . .

:P
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Postby lonewolf » Thu Oct 23, 2008 1:15 pm

Well, admittedly a self-employed oil company shill. :) Still the truth.
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Postby kuha » Thu Oct 23, 2008 1:35 pm

lonewolf wrote:Well, admittedly a self-employed oil company shill. :) Still the truth.


You are our very favorite "Fat Cat"!

Not that you're either overwight or feline, of course.....
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Postby lonewolf » Thu Oct 23, 2008 2:54 pm

kuha wrote:
lonewolf wrote:Well, admittedly a self-employed oil company shill. :) Still the truth.


You are our very favorite "Fat Cat"!

Not that you're either overwight or feline, of course.....


Make that "Ex-Slightly Over Optimim Weight Cat" :)
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Postby SQUACKEE » Thu Oct 23, 2008 3:07 pm

lonewolf wrote:
kuha wrote:
lonewolf wrote:Well, admittedly a self-employed oil company shill. :) Still the truth.


You are our very favorite "Fat Cat"!

Not that you're either overwight or feline, of course.....


Make that "Ex-Slightly Over Optimim Weight Cat" :)


I just wanna be able to say at a cocktail party without lying that," Oh yes i was just e-mailing one of my friends in oil about this whole petrolem business in terms of the effect on stock dividens and what not."

Sorry about your drop Mr. Wolf but i have hunch the prices might possible go up just a tad in the near future. Feel free to P.M with any questions you might have. :P
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Postby jazzcyclist » Thu Oct 23, 2008 3:08 pm

I have a couple of early 60's co-workers who were planning on retiring at the end of the year, but their plans have now been indefinitely postponed.
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Postby lonewolf » Thu Oct 23, 2008 4:45 pm

Yep, Squak, . Thanks for the condolences. This is just a hiccup. I am not shorting oil. It takes a lonnnng time to make that stuff. . 8-)
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Postby tandfman » Thu Oct 23, 2008 8:54 pm

jazzcyclist wrote:I have a couple of early 60's co-workers who were planning on retiring at the end of the year, but their plans have now been indefinitely postponed.

I've spoken to several people in the same situation. It seems to be a common thing, which is understandable given the fact that most people who are approaching retirement are planning to have a certain level of post-retirement income, and to the extent that level depends on the size of their retirement savings, they're now in trouble if they've followed the common advice to keep a good percentage of those savings in equities.
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