Skull Pilot
Diamond Member
- Nov 17, 2007
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Personally, I've lost somewhere between $100k and $200k from my 401k thanks to a series of bubble bursts over the last couple of decades.
That's crap and you know it. You only lose money in the market if you sell at a loss. Fluctuations of portfolio value are not losses. And you should be moving away from equities as you get closer to retirement. If you don't bother to take an active role in your savings then it's you who are at fault. No one is plotting against you.
I have a friend who lost 70K and my sister's neighbor lost 150,000.00. And of course the government bailed out to the tune of trillions a lot of these crooks who caused the bust. But you're OK with that.
So they sold at a loss and are blaming someone else?
No one forced them to sell at a loss. No one forced them to buy stock. They could have bought bonds or stayed in a cash position if they wanted.
And I was not for any bail out including GM. I just don't blame everyone else for every little thing.