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WALLSTREET HITS THE “SHITTER”
4

Oct 11,2008 / CATEGORY: GOSSIP, PERSONAL

If you follow me on Facebook or Twitter you probably have been reading about my rants with the stock market. It’s hard to ignore the situation in the world wide economy (not just US) right now. The stock market has hit an historic low this past week, dropping about 40% from it’s high a year ago and 20% alone this past week. Major banks and investment firms went down and I expect more to go down. I am not going to go deep into what went wrong… we all know what went wrong. However I think we will bounce back in a few years so I am looking at this as a “SALE” on wall street where I can buy stocks and add shares to my retirement account at a discounted price. I never sold a single share (I actually bought this past week) only when you sell you lose. I am expecting a huge 2000+ point rally after Nov 4th (when Obama wins). We will see, perhaps I should stick to photography.

I have always been very interested in the economy and investing in general. If my photography business did not happen, I would have wanted to be a stock trader on Wall Street. Those guys are incredible and insane at the same time. So this week I want to show my respect to those guys by posting a collage of “traders in distress” images I grabbed from various financial websites this past week. There is hope and I have a feeling that we have reached the bottom. If you like you can comment on this situation below.

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Pam Arnais:
Stephan - I have a degree in economics and you are right on the money!! As much as the situation with our economy sucks, what we are going through is part of a cycle and we are in a trough. What is happening is partly a correction though - prices are going down and people are holding on to their money, which isn't necessarily a bad thing. What's bad however are these bailouts without restrictions on how the money is used -- hello AIG $400,000 executive vacation? If the Fed has to inject more money into the system because of these stupid bailouts then that will have an overall negative effect on the value of the dollar and inflation rates. Anyway, I completely agree with you about the fire sale on Wall Street and I'm excited about it! I wish Google was at $3 a share instead of $300, but oh well. Lemme know if you find out about any solid buys. --pam (October 12th, 2008 6:49 PM)
Stephan:
Kristel, that is Michael Douglas (Gorden Gekko) from the 1987 classic movie "Wall Street". I thought I will sneak that one in to see if any one will notice. Joe, anytime ;) (October 11th, 2008 9:04 PM)
Kristel:
The guy on the bottom right looks like Michael Douglas... that's the most I can contribute to this conversation, lol. (October 11th, 2008 5:58 PM)
Joe Wolenski:
Gordon Gekko. Classic. But where's Buffet? Counting his billions I'm sure. Stephan, I didn't know you were an learned investor. We still owe you dinner; we should chat. (October 11th, 2008 11:40 AM)
      
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