Remembering the Lessons of the 2008 Financial Crisis - Allan Roth

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Rowan Oak
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Remembering the Lessons of the 2008 Financial Crisis - Allan Roth

Post by Rowan Oak » Thu Oct 11, 2018 9:16 am

I fear we have learned little from the plunge. Today, people are coming to me with portfolios that are nearly 100 percent in stocks. When I point out just how risky that is, I hear things like “I’m in it for the long run,” and “I’m certain I won’t panic and sell.”
Remembering the Lessons of the 2008 Financial Crisis
“If you can get good at destroying your own wrong ideas, that is a great gift.” – Charlie Munger

retiredjg
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Re: Remembering the Lessons of the 2008 Financial Crisis - Allan Roth

Post by retiredjg » Thu Oct 11, 2018 9:39 am

Excellent article! My favorite part...." It was an Imodium moment."

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rocket354
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Re: Remembering the Lessons of the 2008 Financial Crisis - Allan Roth

Post by rocket354 » Thu Oct 11, 2018 2:07 pm

I had bought a house at the peak in 2006. I was 92/8 when the crash occurred. My net worth dropped 150% during the GFC.

I now own three properties, and I'm 100/0. I am 10 years older with less time to recover, but still plenty of time. If these last couple days are just a prelude to a bigger plunge, then I'll ride it out.

I do agree that at some point (maybe really soon) there will be more than a few people experiencing a rude wake-up call.

2015
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Re: Remembering the Lessons of the 2008 Financial Crisis - Allan Roth

Post by 2015 » Thu Oct 11, 2018 9:49 pm

My favorite line was "This wasn’t supposed to happen..." That's usually when it does happen.

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