The Dow: 1000 point drop in 15 minutes?

[creekster]

When you type in an order, don't you punch in the numbers?

No idea. But I have read several articels on this and all have mentioned letters, (B vs. M) not numbers. '71 or VIking should be able to tell us.

[byu71]

No idea. But I have read several articels on this and all have mentioned letters, (B vs. M) not numbers. '71 or VIking should be able to tell us.

I don't know what they do to enter orders of that size . I know we have controls that won't let us automatically enter order of a certain size. Each investment advisor has his own limit. I guarantee you though I can't enter orders over 100,000 automatically and I would bet at a million even done manually, I would get a call from our trader.

Now Viking, he may not even have a limit and he can let you know how these really big numbers work.

I have done a 500,000 share order and had our regional office call to see if I was sure. When I told them the dollar amount came to $1,081, they laughed and said they should have looked and what the hell am I doing trades like that for clients. It is now worth $13,000 and the sad thing it got as high as $75,000 and he wouldn't sell. I should for full disclosure mention it was "his" pick.

[byu71]

those who lost their ass today are the long onlies/mutual funds.

LOL, the market was down 3.5%. You call that losing your ass. You really think the guys that blew out as the market dropped from down 300 to down 1000 were long mutual funds?

[Viking]

LOL, the market was down 3.5%. You call that losing your ass. You really think the guys that blew out as the market dropped from down 300 to down 1000 were long mutual funds?

yep.

[byu71]

yep.

OK, I will look tomorrow a the mutual funds I own and see how many took a hit more than 3.5%.

[byu71]

you don't think a single day 3.5% is losing your ass? I'd lose my job if that happened.

You guys have no idea how to manage risk. your bid is my ask

I don't know who "you guys" is referring to, so I will let it pass.

Let's not get to the point where your ego takes over and we get into some kind back and forth where I have to get down and dirty, OK.

[byu71]

ok. i don't want to get down and dirty with you anyway.

i just looked on morningstar and there are lots of funds down 4-5% today.

Cool, now we can have a reasonable discussion. I just looked at my 3 biggest mutual fund holdings. down, 2.93%, 3.28% and 3.24%. I would like to give the names out, but that might be considered giving specific advice. You will just hopefully believe I wouldn't lie to you.

I don't doubt there could be some funds down 4-5%.

[FMCoug]

On the plus side, if you're planning a trip to Europe, now is the time to go. The DOW is what gets the attention but if you look at the Euro today ... holy smokes.

[I.J. Reilly]

Mutual funds are just another way to get money from one rich dude's pocket into another rich dude's pocket. Rarely do the big ones outperform the market over any significant time period (say, 10 years), especially when you consider fees.

Markets are often held to be the height of the rational. I don't know that I believe that the way I used to.

[byu71]

Mutual funds are just another way to get money from one rich dude's pocket into another rich dude's pocket. Rarely do the big ones outperform the market over any significant time period (say, 10 years), especially when you consider fees.

Markets are often held to be the height of the rational. I don't know that I believe that the way I used to.

Rarely? That is a popular belief. I think I could agree with most mutual funds don't outperform the market. Maybe that is what you meant by rarely.

[I.J. Reilly]

On the plus side, if you're planning a trip to Europe, now is the time to go. The DOW is what gets the attention but if you look at the Euro today ... holy smokes.

The European markets are the real story. The dump on the Dow was just a weird thing that happened, but the big hit that the euro is taking was the real mover in the market (imo). Seems to reflect a belief that the problem with the PIIGS is real.

I wouldn't be surprised if this problem with the euro leads to the relinquishing of more sovereign control. Either that or at least the partial disbandment of the eurozone.

[creekster]

The European markets are the real story. The dump on the Dow was just a weird thing that happened, but the big hit that the euro is taking was the real mover in the market (imo). Seems to reflect a belief that the problem with the PIIGS is real.

I wouldn't be surprised if this problem with the euro leads to the relinquishing of more sovereign control. Either that or at least the partial disbandment of the eurozone.

Back when they adopted the euro I recall that many people, including myself, were somewhat skeptical that those wacky euros could be one happy family. They have done a rpetty good job so far, but now, in a tighter time, their history may win out.

[I.J. Reilly]

Rarely? That is a popular belief. I think I could agree with most mutual funds don't outperform the market. Maybe that is what you meant by rarely.

What I mean is that it is rare for a large-sized mutual fund (read: one that the average joe-schmo off the street could invest in) to outperform the market. If you don't have a lot of capital to be able to buy into a smaller mutual fund, or you don't have a personal manager doing it for you, you're better off buying into SPY shares through e-trade or something similar and letting the money sit there.

[FMCoug]

The European markets are the real story. The dump on the Dow was just a weird thing that happened, but the big hit that the euro is taking was the real mover in the market (imo). Seems to reflect a belief that the problem with the PIIGS is real.

I wouldn't be surprised if this problem with the euro leads to the relinquishing of more sovereign control. Either that or at least the partial disbandment of the eurozone.

They can piss and moan about us damn yanks all they want, but when the shi* hits the fan, greenbacks are still king.

[byu71]

What I mean is that it is rare for a large-sized mutual fund (read: one that the average joe-schmo off the street could invest in) to outperform the market. If you don't have a lot of capital to be able to buy into a smaller mutual fund, or you don't have a personal manager doing it for you, you're better off buying into SPY shares through e-trade or something similar and letting the money sit there.

I hope you know I am not trying to be argumentative here, although that is my nature. This is an area I have dealt in for over 28 years. Therefor, I have a lot of opinions and it is fun to talk about something I actually think I know something about. It really doesn't matter if anyone on here agrees with me, except I guess for my ego, because no one on here is a client.

That being said, I do know of several mutual funds the retail guy can get into that have outperformed the market over longer periods of time. That statement is not a solicitation. I am not looking for new clients. Unless you have over $100,000 and don't need the money for at least 5 years and you promise not to hassle me.