The Crash on October 10 2008.

I just saw my first experience in a bear Market on the week ending in October 10, 2008. It was crazy, everything was like a fire sell. Government go panicking, Hedge fund manager goes crazy, and my portfolio drop more than 50% (luckily I sold half of it earlier in the week). It was sad watching the portfolio I thought was cheap become even cheaper. The entire fundamental was throwing out of the window; people are driven by margin call and fire sell. Everything you study does not mean a thing. It’s all about cash preservation. Par non, Let point the finger at the government, the people that took out those loan, idiots whose parents paid for prep school, Yale, and then the Harvard MBA – (Quote from Andrew Lahde’s letter), and Wall street itself. The government who allow a 4 to 1 leverage, people lost themselves to greed of the rising home market, top end CEO that never learned to think for themselves, and greed from Wall Street. Is it wrong for people like Andrew Lahde’s to take the bet and took advantage of the idiots? No, they didn’t do anything wrong, but took advantage of their opportunity and cash in. So the result is a mess that will take years to clear, people will be send to jail. But the one that will suffered most, are the people who is about to retire and saw their 401K go down the drain.
The magnitude of this event was huge enough to cause the entire bank to stop lending to each other. A global crisis on the financial industry that caused a global governmental capital infusion to the banks to kept it from falling apart. I sat and watch and amaze by it. People are force to sell, stock prices plummet by each minutes. No sector was safe, no strategy was safe, and nothing could stop it. So it bottoms and here I’m waiting to put some more money to catch a ride up. While the unfortunate people looking for the 401k to retire. Yes the world is very unfair but that how it is. Unpredictability, so the one that capable of reading it best will end up on top. WALL STREET AT IT WORSE!!!!!!!!!! ; (