Very OT . What have we got to complain about ?
Submitted: Saturday, Oct 11, 2008 at 21:14
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Member - Willie , Sydney.
Andrew Forest has been losing , on average , $6.25 million a day for the last 4 months . And I thought I was doing badly in the market !
I think that figure is correct , but I could be wrong as my calculator did not have the capacity to go to $7.5 billion !
Cheers ,
Willie .
PS , Poor buggers only worth $2.5 billion now .
Reply By: Kim and Damn Dog - Saturday, Oct 11, 2008 at 21:42
Saturday, Oct 11, 2008 at 21:42
Bloody hell
Hang on a mo, while I get another drink......
The pensioners will be bleep tered with this news. Perhaps we can get them to donate a slice bread for the poor buggar.
Regards
Kim
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Reply By: Willem - Saturday, Oct 11, 2008 at 22:02
Saturday, Oct 11, 2008 at 22:02
I got no money so what happens on the ASX doesn't worry me......lol
I wonder how much Bill Gates has lost
Stick yer money in a sock under the bedroom floorboards....it is safer there.
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Reply By: Member - JohnR (Vic) - Saturday, Oct 11, 2008 at 23:13
Saturday, Oct 11, 2008 at 23:13
Hope he hasn't been taking out margin loans on his shares too.
Willie, I reckon Willem could have made a lot of money forward selling. I can't see the real logic of being able to sell shares you don't have. Otherwise you could short $100m say BHP and walk away. It's alright, I know the principles of covered and uncovered shorts. I just don't know why they want to allow it. As soon as short selling was allowed this week Wall Street crashed. It allows manipulation which is what so much of the losses are about, yes, covering losses I know but adds to others risk
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Reply By: Ozboc - Sunday, Oct 12, 2008 at 09:13
Sunday, Oct 12, 2008 at 09:13
Isn't it funny that those who have the most whinge the loudest .....
when is enough money enough ???
My previous employer grosses about 450 M a year - is owned by one guy - not a floated company yet pays employees CRAP money and tries to rip them off by any means possible.
Why do these people need to stock pile SO much money ??? there is so many houses you can buy - flash cars - boats - and yet they still pay employees CRAP money-- and these are the people that work very hard so that this person can stockpile such HUGE amounts of cash ........
when a boss says he cant give you a $1 per hour payrise then goes and buys a new Maybach or other expensive car --- you really have to wonder how people become so greedy and uncaring of fellow human beings .....
enough said -- will step down from my soap box now ..
Boc
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Follow Up By: Member - Willie , Sydney. - Sunday, Oct 12, 2008 at 12:18
Sunday, Oct 12, 2008 at 12:18
Boc ,
Who has "whinged" ? I am confused.
Willie .
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Follow Up By: Ozboc - Sunday, Oct 12, 2008 at 13:47
Sunday, Oct 12, 2008 at 13:47
I was actually talking in general -
Boc
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Reply By: Mike Harding - Sunday, Oct 12, 2008 at 09:47
Sunday, Oct 12, 2008 at 09:47
To me the whole thing proves that not one person on the planet has the remotest idea how the global financial system works.
Yet again history repeats itself as the working man provides the soft cushion for the rich and powerful to fall upon when their house of cards collapses.
Take 'em out and shoot the bastards I reckon - unfortunately these greedy, selfish and rotten people will survive and prosper.
Who said Marx was wrong?
Mike Harding
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Follow Up By: Best Off Road - Tuesday, Oct 14, 2008 at 21:00
Tuesday, Oct 14, 2008 at 21:00
You evil, left wing mongrel.
Please explain to me what is wrong with the wealthy sodomising the poor?
Next you'll be suggesting that Trade Unions are a legitimate bargaining basis for the masses.
You're a very bad man Harding :-)
Jim.
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Follow Up By: Mike Harding - Tuesday, Oct 14, 2008 at 21:26
Tuesday, Oct 14, 2008 at 21:26
>You're a very bad man Harding :-)
And I'm presenting my better side here too!!! :)
Mike Harding
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Follow Up By: Richard Kovac - Wednesday, Oct 15, 2008 at 00:20
Wednesday, Oct 15, 2008 at 00:20
It sounded OK to me Mike.. ;-)
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Reply By: Member - Willie , Sydney. - Tuesday, Oct 14, 2008 at 17:47
Tuesday, Oct 14, 2008 at 17:47
OK guys , jut to ease your worries over Twiggy's losses .
You can rest easy, as the poor bugger made up over a billion dollars today, when Fortesque put on 50% .
Phew , I was concerned for him too !
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Reply By: Member - Hughesy (NSW) - Tuesday, Oct 14, 2008 at 19:52
Tuesday, Oct 14, 2008 at 19:52
I know where your coming from Willie, but he really hasn't "lost" a cent.......unless he sells his shares.
I keep hearing on the TV about about "Mr Smith" and how he has "lost everything".
Well the only way you could lose everything is if you sold out of the market...which is really stupid.
The value of each share might have dropped 50% or more but in 12 months time when the shares have recovered that 50% and some, then they have made money.
If you have spare cash...now is the time to BUY and BIG!!!
Just wish I could have been the Lehman Bros CEO for a week.....at $22,500/hr I reckon I'd only do 40hrs too.
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Follow Up By: Mike Harding - Tuesday, Oct 14, 2008 at 19:59
Tuesday, Oct 14, 2008 at 19:59
>If you have spare cash...now is the time to BUY and BIG!!!
Jesus H Christ - will you people never learn!?
Mike Harding
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Follow Up By: Member - John (Vic) - Tuesday, Oct 14, 2008 at 21:49
Tuesday, Oct 14, 2008 at 21:49
Your right Hughesy its certainly closer to the bottom end and a market entry at current levels will give most people some very good returns in the next 12 months or so.
Spend sometime to do some research and plenty of very good buys out there.
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Reply By: Member - John (Vic) - Tuesday, Oct 14, 2008 at 21:45
Tuesday, Oct 14, 2008 at 21:45
FMG has been very good to me since Friday :-)
Its a traders market and with the volatility set to remain it will remain so.
Best trading year I have had, and the last few have been very very good to me.
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Follow Up By: Best Off Road - Tuesday, Oct 14, 2008 at 22:01
Tuesday, Oct 14, 2008 at 22:01
I've just celebrated my 25th wedding anniversary.
Two wonderful boys to boot.
Booming business with my beautiful wife.
Guess I'm lucky that the Stock Market holds little interest for me.
Jim.
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Follow Up By: Member - Willie , Sydney. - Tuesday, Oct 14, 2008 at 22:10
Tuesday, Oct 14, 2008 at 22:10
John ,
You must be happy with a 50% return in one day !
I bought a heap on Monday ( banks , oils , mining ) and am not complaining . I am still holding back cash though , as I think things will get nasty again befiore they get better . I hope not , but that is my gut feeling .
.........................................................................................
Jim ,
Each to his own - wise of you to stick to what you know . Too many people with "no idea" plonk all their savings into the stock market .
Willie
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Follow Up By: Member - John (Vic) - Tuesday, Oct 14, 2008 at 22:37
Tuesday, Oct 14, 2008 at 22:37
Willie like most of us I have watched FMG (amongst others) fall for quite sometime and figured that it was as close to bottoming as ever likely to be, given the actions to support the markets going on around the world.
So picked up a few on Friday and dumped the lot today, no complaints its not often you pick up such a sizable gain in such a short period of time.
Agreed the nastiness will remain and so will the buying opportunities for those who are cashed up and sure footed :-)
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