Our financial system is crumbling this week.

[BenNX74205]

I've stayed out of this thread because I know jack squat about it, but I'd think right about now would be a good time to buy stocks, wouldn't it?

I wish I knew what to buy. Never done it before.

I'd wait for a while because I think the worst is yet to come. But in general it's better to buy when the market is down. As a young person it's a good opportunity to get in, so hopefully I'll be able to get in somehow as well.

[TheoSqua]

I've stayed out of this thread because I know jack squat about it, but I'd think right about now would be a good time to buy stocks, wouldn't it?

I wish I knew what to buy. Never done it before.

I tend to agree. Not only do I wish i knew more about stocks, I also wish I had money to buy stocks!

[AWvsCBsteeeerike3]

I've stayed out of this thread because I know jack squat about it, but I'd think right about now would be a good time to buy stocks, wouldn't it?

I wish I knew what to buy. Never done it before.

I would offer advice, but my 4 retirement stocks right now for the year are down (in no particular order) 22.9%, 22.6%, 25.4% and 22.5%.

[clevername]

My biggest problem is the stock market is just kinda reported as a number. I don't have the patience to sift through all the info.

So, is the Dow way down because stocks directly affected by the mortgage crisis are down or are all stocks down even if they don't deal with the mortgage crisis? I'm not going to buy stocks that are already failing due to a screwed up system, but I would if their prices are just temporarily being dragged down by this mess and are more likely to rebound.

[Freed Roger]

I agree - for retirement - buy stocks for long-term - maybe not quite yet, but soon when at bottom.

This is obvious - But the big question is - which stocks? many stocks/companies are gonna go under - so you need to pick the ones that will still be standing when the dust clears.

My problem is how do you do this with a 401K? Most of our 401Ks -we are basically given a list of mutual funds to pick from. ours is w/ Fidelity. who's going to read all those prospectuses? Who knows what assets those mutuals hold? This puts you in the slippery position of trusting those guys on Wall St who control the mutual funds. its hard to give them that trust

[AWvsCBsteeeerike3]

I agree - for retirement - buy stocks for long-term - maybe not quite yet, but soon when at bottom.

This is obvious - But the big question is - which stocks? many stocks/companies are gonna go under - so you need to pick the ones that will still be standing when the dust clears.

My problem is how do you do this with a 401K? Most of our 401Ks -we are basically given a list of mutual funds to pick from. ours is w/ Fidelity. who's going to read all those prospectuses? Who knows what assets those mutuals hold? This puts you in the slippery position of trusting those guys on Wall St who control the mutual funds. its hard to give them that trust

I'm guessing Growth Fund of America isn't going to go under.....

[clevername]

and that's my biggest problem.

I'd buy right now with ScottTrade or e-Trade or whatever if I knew which ones to buy. Or if I even knew where to research to decide on which ones to buy (any suggestions there?).

At the same time I don't think I can trust the wall street folks to just choose them for me.

[thrill]

Buying individual stocks as a layman is retarded (no offense if you do).

[jim]

Buying individual stocks as a layman is retarded (no offense if you do).

Timing the market is also a bad plan as well.

[Freed Roger]

Buying individual stocks as a layman is retarded (no offense if you do).

Timing the market is also a bad plan as well.

I guess I agree with both of these. but now the alternative to "going it alone" is blind faith in Wall St. stock pickers (mutual funds)...

or burying coffee cans of cash in your back yard.