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Weekend Reading – The Subprime Meltdown Edition

With the big stock market drops making all the news these days, I thought it would be useful in posting some information as to why.

In other news:

What's your take on the sell off?  Are you selling off with the crowds or hanging in there?  Me?  I started dabbling in some financials yesterday afternoon. :)

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FT About the author: FT is the founder and editor of Million Dollar Journey (est. 2006). Through various financial strategies outlined on this site, he grew his net worth from $200,000 in 2006 to $1,000,000 by 2014. You can read more about him here.

{ 7 comments… add one }
  • Avatar Lawrence August 17, 2007, 12:22 pm

    FT, good call on this topic! I was just about to ask your thoughts on the markets’ current situations. To me it feels like the early 2000s when I lost a bunch . Should we expect a rebound some time in the Fall? The patterns seem similar. I think your idea of investing in the banks are a good idea. I’m not planning to sell anything right now, but I’m going to wait until Oct-Nov to see how the stocks are to reinvest. Thanks for reading my mind :) P.S. How’s your house coming along?

  • Avatar Mike August 17, 2007, 6:46 pm

    Am waiting to see if it will go down some more. Excellent time to buy!

  • Avatar Warren August 17, 2007, 9:08 pm

    I’d be a little hesitant to try and “catch a falling knife” in what could be a protracted drop in the market. Its much easier to jump in as things start to rise.

    I have a feeling this will be unwinding for a while, we haven’t heard the end of the credit issue.

  • Avatar Nabloid August 18, 2007, 10:41 pm

    Times like these just make certain stocks attractive and should be used to our advantage. It might seem like short term pain, but I think if you spot some opportunities, you’ll forget it while you enjoy the long term gain.

  • Avatar Rod Payne August 19, 2007, 6:30 pm

    FWIW, I just bought some RY-T (not an endorsement or intended as investing advice).

    My only other comment on the situation is the chuckles I get when I ask people how the points on the various indexes are calculated. someone told me the TSX dropped 500 points with a very perturbed look on their face. So, I asked them to explain what that means…..no idea. Sigh.

  • Avatar FrugalTrader August 19, 2007, 6:37 pm

    Hey Rod, I also bought some RY-T before the gap up. Hopefully it only goes up from here. :)

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