401K rollover BS

Bones · Apr 3, 2008

I have a phat chunk of change to roll over from my 8 years at my last company and taking it to an investor this afternoon. Since the dollar is worthless should I mainly focus on overseas goods?

InDaShop · Apr 3, 2008

I have been 100% overseas for about 18 months now. Its not much better. There really isnt any GOOD place to hide your money from this economic downturn. But if you look at the DOW its still about the same level, just the value behind it is junk.

Thats my take, I am far from a pro at securities. I know I'm a trader, but I handle commodities. Like asking Kelly to work on a Porsche. Yeah he knows mechanics but I wouldn't let him touch a Porsche.

wngrog · Apr 3, 2008

I did that...Euro based stocks and went heavy into Petroleum.
I bought a pile of gold when it was at $700.....
All I have left other than that is thousands of nearly worthless shares of Pfizer

InDaShop · Apr 3, 2008

wngrog said:
I did that...Euro based stocks and went heavy into Petroleum.
I bought a pile of gold when it was at $700.....
All I have left other than that is thousands of nearly worthless shares of Pfizer

You can always request live shares be issued for that pfizer so you can at least wipe your ass with the certificates :flipoff1:

BamaTJ · Apr 3, 2008

We have a money mgt firm that manages our 401k, so they constantly move it and I have seen good returns still. They have put some overseas, but not all. There are talks about major hwy construction projects forthcoming across the US, so the goverment sub network will probably have life in it soon. Oil and gas is generally a good segment as they are still reporting record profits and going to ask congress for more tax breaks.

BamaTJ · Apr 3, 2008

InDaShop said:
You can always request live shares be issued for that pfizer so you can at least wipe your ass with the certificates

At least it is better than shares of Bear Stearns. My cousin is a managing partner in the energy trading division in Houston, and it is a tough time for him now.

wngrog · Apr 3, 2008

If Julie and I did not have so damn much of it it would be funny, but damnit. When I started the co. was on fire, 2:1 and 3:1 stock splits...tons of options....

When I left I gave back almost 5000 worthless options.

muchado · Apr 3, 2008

wngrog said:
If Julie and I did not have so damn much of it it would be funny, but damnit. When I started the co. was on fire, 2:1 and 3:1 stock splits...tons of options....

When I left I gave back almost 5000 worthless options.

So Nolen, I'm sure everyone's wondering... Do you get free "samples" :flipoff1:

I'd imagine the fringe benefits make up for the loss of stock options :flipoff1:

GStone · Apr 3, 2008

I'd go get hookers and beer and let the government bail me out somehwere down the road...like most of the dumbasses in this country.

InDaShop · Apr 3, 2008

BamaTJ said:
At least it is better than shares of Bear Stearns. My cousin is a managing partner in the energy trading division in Houston, and it is a tough time for him now.

HA I sold Bear short at $53.30, and bought it back at $50.75. Took a good clip. 20 minutes later they were trading at $28. **** I coulda made $15k had I not got out. But that **** went HYPER VOLATILE, and I got the fawk out. No regrets just missed opportunity.

Whats your cousins name? You know a majority of Bear Energy are former Calpine guys.