Monday: Buy Stock! Invest in America!

Discussion in 'Archived Threads 2001-2004' started by MikeDeVincenzo, Sep 15, 2001.

  1. MikeDeVincenzo

    MikeDeVincenzo Stunt Coordinator

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    Dear Members of the Home Theater Forum,
    On Monday, we can all make a difference for America's economy. Clearly, the attack on the WTC was not only designed to destroy thousands of lives (an unforgivable sin), but to disrupt our already faltering economy. It is no secret that many (NOT ALL) home theater hobbists have a good amount of disposable cash. I appeal to all of you to invest in America on Monday and buy stock. While it may take losses in the short-term, this investment in America will pay off in time, and is ESSENTIAL to showing the terrorists that our confidence in America has never been stronger. So please, INVEST. Make a difference.
    Thank you.
    [Edited last by MikeDeVincenzo on September 15, 2001 at 08:38 AM]
     
  2. Eric Scott

    Eric Scott Second Unit

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    You wouldn't by any chance be in the business would you? Maybe you have some depressed stocks?
    I do not see the any other reason for this rationale.
    WRITTEN BY ERIC'S INVESTMENT ADVISER.
     
  3. Edwin Pereyra

    Edwin Pereyra Producer

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  4. Danny R

    Danny R Supporting Actor

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    A sudden rally in stocks at this point would be a bear rally, which would be certain to fall, wasting the money spent in the short term.
    Real bull markets are created by solid financial stability across the economy.
    The best advice is to not panic and sell. I wouldn't advise simple buying at this time unless it is for the long term (money you will not need for >5 years).
     
  5. Robert McClanahan

    Robert McClanahan Stunt Coordinator

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    I just put 100% of my retirement fund into stocks.I believe this is the right thing to do whether I lose money or not.
     
  6. Peter Overduin

    Peter Overduin Supporting Actor

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    The Toronto Stock Exchange here in Canada - the only one open on Friday - dropped over 200 points. Certainly the terrorist act had much to do with it, however, on Friday there was also very bad economic news released in the US, showing clear indications that the economy is, in fact, in recession with no clear signs as to when it will turn around (11 straight months of decline, with the biggest one in August, not good). Consumer confidence, the one bright spot in the numbers for both the US and Canada, will be shaken in the months ahead and will further weaken the economy.
    I more than half expect Greenspan to reduce interest rates as early as tonight or tomorrow morning, before markets open, however, I would expect that economic realities will the hit the markets by afternoon, after a brief, cautious, patriotic morning where numbers may not move too, too much.
    I admire your president's actions so far. He has been involved, prudent and resolved. That will inspire some stability, perhaps, but with Continental laying off 12,000 workers, we all must realize that patriotism will not keep numbers up when all pointers show a dismal economy, now made worse by terror.
    In the end, corporations are accountable to their stock holders, and brokers to their clients. I will follow my broker's advice and do two things: Sit Tight, and Buy Low.
    But, your point is not lost on me Mike. If we all retreat out of the market, taking our cash with us, there will be unmitigated disaster. To that end, I have instructed my broker to buy something tomorrow, probably an airline stock, because I believe its the right thing to do, and because I believe its a good investment. While they will suffer in the short term, and security measures will cause problems, it is worth noting that Europe, where I lived for years, has had much greater security for many years, and still profited. Both the airlines and the travelling public will adjust, and be the better for it.
    Good luck, and God Bless America!
    [Edited last by Peter Overduin on September 16, 2001 at 12:34 PM]
     
  7. paul_v

    paul_v Second Unit

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    In normal war, war is good for the economy. The up and coming war will not be a normal one. If our airlines do not recover and people refuse to fly then that will be our downfall. Good airline business = good hotel business = good tourist business = money into the economy. I am flying on vacation to Orlando in October, God help me. I was going to cancel the flight but then I realized that out of the 1000 or so flights taking off from DFW the chance of my plane being highjacked is pretty slim.
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