Posted by JML755 on January 22, 2010 at 08:13:06 from (66.184.63.110):
In Reply to: Stock Market posted by Fixerupper on January 22, 2010 at 06:08:01:
dhermesc said: (quoted from post at 11:54:01 01/22/10) Agree with the mirage statement.
The other issue, every month thousands of companies send billions of dollars withheld through 401k plans to "investors" that buy stock based on their equations of the stock mix that their fund owns. No one checks to see if the individual company is actually worth the price being paid or times their purchases to take advantage of a temporary lull in price. With billions to put somewhere every month the market has been driven up, reguardless of fundimentals. Essentually the NYSE is a Ponzi scheme.
Good point about the 401Ks. In addition to playing with the fund mix of stocks, the 401K managers MUST buy into funds that YOU dictate. I.e. if you say that you want 25% of your weekly contribution to go toward "Pacific Rim" funds or "Small Cap" funds, guess what? They MUST buy those funds with YOUR money regardless of which way the market is heading. Now, they may play games and hold it for awhile and mix up the individual stocks in that category, I'm not sure what the regs say about that, but at the end of the day, when you get your statements, you sould see x number of units of xyz fund purchased. Unit price may be up or down, but YOU dictated what YOU want your money invested in.
As for the Ponzi scheme, by the time an individual investor puts his money into a "hot" stock that may be on the rise, the guys with the big bucks who are "in the know", have gotten a phone call from the analysts on Wall Street and driven the price up to the point that they can sell out to you and make a profit on THEIR investment. Chances are you've bought at the peak and it's downhill from there. Just hope that YOUR 401k and mutual fund managers were the "guys in the know". LOL.
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