2008 crash? What did you do?

sandwitch

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May 20, 2018
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#1
For those who have been investing for a while - when the 2008 crash happened how did you feel and what did you do/regret?
 

*SynergyX*

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Sep 30, 2009
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2,130
#2
Panicked for awhile initially...what else could one do.

But what kept me from total destruction was not having more invested than i could afford to lose, there is not get rich quick in this game.

Always kept in mind that nothings guaranteed - its an educated "gamble" on a number of companies after all.

So that allowed me to look the other way and just hope it turned around at some point. When it did start turning around increased by investments significantly, again only with what i was willing to lose if it went sour.

with these things its your mind that is your worst enemy --> have to train your mind to remain objective.

#Steinhoffwipedme
 

SauRoNZA

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Jul 6, 2010
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#3
You ignore it.

Falling into the panic trap is how money is lost because the loss is only realised when you sell.
 

LCBXX

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Apr 11, 2006
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#6
I watched as the US Government bailed out, and supported, the institutions that bribed it to turn a blind eye in the years leading up to the crisis.
 

NarrowBandFtw

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Feb 1, 2008
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14,063
#8
For those who have been investing for a while - when the 2008 crash happened how did you feel and what did you do/regret?
I felt quite vindicated as I was telling people things have to come crashing down eventually for a while and was laughed off while they invested in property and I didn't.

What I did was rub their noses in it and buy property soon after :p
 

McT

The Humble Scot!
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May 19, 2009
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#9
If you are able to, when a crash happens, investing in quality stocks at the right time will yield great rewards.

Selling in a crash is the worst timing possible. Like [MENTION=97943]SauRoNZA[/MENTION] says, it's only a loss if you sell. The only proviso to this is a company that's going belly-up, e.g. Steinhoff.
 

sandwitch

Active Member
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May 20, 2018
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61
#10
If you are able to, when a crash happens, investing in quality stocks at the right time will yield great rewards.

Selling in a crash is the worst timing possible. Like [MENTION=97943]SauRoNZA[/MENTION] says, it's only a loss if you sell. The only proviso to this is a company that's going belly-up, e.g. Steinhoff.
I like [MENTION=97943]SauRoNZA[/MENTION]'s mention of objectivity - I need that because I've knee-jerk reactions I need to watch out for but I was wondering how many people saw it as an opportunity and how many people were worried their investments would never recover (that charming warning: Past performance is not a guide to future performance, nor a reliable indicator of future results or performance is kind of intimidating.)

BTW, You don't think Steinhoff would recover?
 

cguy

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Jan 2, 2013
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#14
My stock/options grants plummeted, but I hade enough cash to put down a deposit on a flat, so I bought one then (“buy at the bottom”/“when there’s blood on the streets” strategy). It was a great investment, and the stock grant price bounced back and far exceeded the original price anyway (took many years though).
 
Last edited:
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#16
I lost over a bar. Still trying to make it back. Haven't invested in single stocks ever again. Unit Trusts or index funds now.
 

Hendrix

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Aug 2, 2012
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#17
I was pretty worried but didn’t do anything, just sat through it, and it payed off.
I’m expecting another crash anytime soon...
 

sandwitch

Active Member
Joined
May 20, 2018
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61
#18
I was pretty worried but didn’t do anything, just sat through it, and it payed off.
I’m expecting another crash anytime soon...
I'm preparing for one now. I'm trying to ween myself off stalking my investments daily so I can see a bigger picture when any crash or big dip happens.
 

smb3

Senior Member
Joined
Mar 28, 2006
Messages
854
#20
I started working that year (well Dec 2007). Worked for an American company with an office in South Africa

I was actually unaware of the 2008 fin crisis and it's effect on companies, but I ended up with a really low starting salary which was unfortunate.

I do expect some sort of huge correction soon. This capitalism is starting to show it's limits.
 
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