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Thread: current market and koi hobby...

  1. #11
    Jumbo 111whalen's Avatar
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    Lots of good points. JR mentioned the string theory-must be reading some of my sources. Morningstar has a very neutral (I believe) evaluation except brokers buy/sell stocks just like realtors sell properties. It took forever for the realtors to change their tune. Brokers? I believe the same. One of the bottom lines is the consumer-many people living over their head (or fish). This does affect me-as my portfolio shrinks I am less inclined to buy fish. Anyone else? You can blame the politicians or other groups but we are all in this together. If you operate economically in a conservative manner (I don't mean politics) you will survive this R. We have, in my opinion, a long way to go down-financials and oil, etc. Good luck to all my koi friends and dealers.
    Full Time Koi NUT
    SoCal beats NorCal KOI UNIT
    Mark W
    CKHPA

  2. #12
    Oyagoi kingkong's Avatar
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    gut check

    Nobody is going to feel sorry for a hobbyist that can't spend 10 g's for a fish. I think the koi prices are as inflated as real estate was.

  3. #13
    Jumbo
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    I don't have any advices for anymore, 'cause most people have more moeny than me when koi is concerned. For me, I will never spend a penny from tomorrow's money on a hobby or become worthless in a unctrollable/unpredictable way.

    Bush and Berneke suck, combined they suck big time. Look bad at what they both say just 6 damned months ago. Poor Bush is working on a job he is not qualified for, but he begged for and we happily gave it to him. It is our fault, so take it on the chin folk.

    Bern is a total idiot on finance. He screwed up so many times and so often. He could have cut the damned rate by a quater point when Bush anounce the 145Billion rescue package and everything would have been happy. Now everyone wants half point next tuesday. This world will be a mess with anything less.

    As far as koi is concerned, I will say keep you green in your wallet. No, convert it to RMB and keep the deposit slip in your safe. In a year, the RMB will mean a lot more.

    stan

  4. #14
    Daihonmei aquitori's Avatar
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    Quote Originally Posted by saratogatan View Post
    I don't have any advices for anymore, 'cause most people have more moeny than me when koi is concerned. For me, I will never spend a penny from tomorrow's money on a hobby or become worthless in a unctrollable/unpredictable way.

    Bush and Berneke suck, combined they suck big time. Look bad at what they both say just 6 damned months ago. Poor Bush is working on a job he is not qualified for, but he begged for and we happily gave it to him. It is our fault, so take it on the chin folk.

    Bern is a total idiot on finance. He screwed up so many times and so often. He could have cut the damned rate by a quater point when Bush anounce the 145Billion rescue package and everything would have been happy. Now everyone wants half point next tuesday. This world will be a mess with anything less.

    As far as koi is concerned, I will say keep you green in your wallet. No, convert it to RMB and keep the deposit slip in your safe. In a year, the RMB will mean a lot more.

    stan
    Tan, your words of wisdom have enlightened me...

  5. #15
    Oyagoi Bob Winkler's Avatar
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    interesting stuff... most of all that some would take an equity loan out to buy koi. Surprising on so many levels, but I suppose not also as I hear of people who I know are "upside down" refinancing their house to buy the boat they want. Then wonder why they are always in trouble....Why should koi be any different from any other "big" purchase? maybe I answered my own "question"

  6. #16
    Daihonmei aquitori's Avatar
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    Quote Originally Posted by Bob Winkler View Post
    interesting stuff... most of all that some would take an equity loan out to buy koi. Surprising on so many levels, but I suppose not also as I hear of people who I know are "upside down" refinancing their house to buy the boat they want. Then wonder why they are always in trouble....Why should koi be any different from any other "big" purchase? maybe I answered my own "question"
    Bob you have enlightened yourself...

  7. #17
    Oyagoi kntry's Avatar
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    I'm beginning to seriously worry about our country and my finances. Ya'll are talking about equity lines of credit, 80/20% ratios on homes loans, appraisals overstated, etc. I'm guilty of all of the above, forced on me by a drunk and Louisiana crooked politics. Hope ya'll aren't surprised.

    I've had to refinance my house 4 times & get 2 equity lines of credit in the last 4 years after my DH was on his Harley and hit head on by a drunk.

    I understand that a lot of people get into trouble with refi's and equity lines of credit because they spend on big toy items to keep up with the Jones' but not all are that way. I talk to many people daily, mainly single Moms left with a bunch of kids and bills to fend for herself. They all have the same story.

    I just got off the phone a few minutes ago with a single Mom, 4 kids, house note is increasing several hundred $$ a year where she can't afford it due to insurance rip offs and outrageous property values after Katrina.

    I kinda got off the subject so to answer your question, if people had money before this mess, I think they will tighten up their belts a little but not noticeably to the rest of us. If they were working class like most of us, they'll have to cut back somewhere and hobby/fun things will have to be the first to go.

    When your electric bill increases $200-$300 a month, vehicle fuel triples in 2 years, yada, yada, this govt. couldn't give a rat's patut about us.

  8. #18
    Oyagoi kingkong's Avatar
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    Well, my Gandfather predicted all of this mess.I thought he was nuts. The people are getting fed up with politicians. What goes around comes around.

  9. #19
    Meg
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    Oyagoi Meg's Avatar
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    Quote Originally Posted by kingkong View Post
    Well, my Gandfather predicted all of this mess.I thought he was nuts. .
    that is why they call them wize old men ....
    old ladies too.
    we forget to give them credit, they been there done that

  10. #20
    Daihonmei
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    This is not a political thing, as both republicans and democrates live beyond their means and leverage their futures. And poor Bernake has nothing what so ever to do with this. what this is a cultural disconnect. Most of American is presently living on all they make 'plus a little' they borrow every year. So we have 'mortgaged' our future to live for today. And you do not need to have a house to mortgage your future. You can do it with car leases, car loans and credit card debit. It is a national disease like obesity and like obesity it can 'kill' you.
    For those looking to find a better way, pick up the paper back book entitled 'The Millionaire next door'. I give a copy of that book along with a copy of my book on Municipal bonds to my new high networth clients. Nothing in them that is particularly profound. Just a reminder that the very wealthy get that way thru three techniques- 1) living below your means 2) saving and compounding of money and 3) never making major investment mistakes.

    Stan, hating politicians and blaming bureaucratic wanks is not going to help. Nor is it their 'fault'. In fact we have no one to blame but ourselves for this current recession. Too much leveraging of future earnings and no savings- it is really that simple.
    The banks and finance companies were forced to lend/lower standards by congress and they were more than happy to lend as they made a fortune and they could instantly sell the paper to wall street as they certianly wouldn't have written those loans if they were going to be part of their inhouse portfolio. Wall street leveraged the paper and invested the money in more leveraged securities. rating companies rubber stamped the paper as AAA evenr though no one would have considered it AAA for their own portfolios. Now the arbitrages are in place and they can't be unwound. There is no market for the former AAA paper and lenders want additional collateral. This forces more sale of stocks. It is a vicious cycle with no bottom in sight. So the feds are doing what they can to keep liquity in the system. This can only go so far.
    Just today someone asked me to call them when the rates get lower so they can go to their mortgage broker and get a lower mortgage rate- to buy more stocks at these bargin prices!! Nutzzz. Until one has 20% equity in a home, is saving 10% of their net pay, has no credit card debit or home equity loan, has maxed out the 401K and has six months of monthly household expenses in the money market or a CD ladder, they have no business buying individual stocks. JR

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