Is the Stock market Affecting Your HT Buying Habits?

Discussion in 'Archived Threads 2001-2004' started by Peter Overduin, Jul 24, 2002.

  1. Peter Overduin

    Peter Overduin Supporting Actor

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    Well; here it is, Wednesday morning and we are just going down, down, down. This has dramatically affected the status of my assets. Much like a mortgage, when the value of what you own is less than the amount you owe, it becomes tougher to get loans, credit, etc., and you pay higher interest rates. Asset/liability ratios, net orth, etc., are critical to maintaining excellent credit relationships, and mine are taking a beating. In a market of decling real estate values are sinking stock markets, my net worth has declined subtstantially. The acceleration of paying down debt is the only way I can now increase my net worth. Depressing.

    That I have substantially reduced my 'Wish List' in both the hardware and software sides. In a sense, I am just what economist do not want to see, and in fact dread. When the markets (which often do not reflect the economy at large) begin to suffer such catastrophic losses as we are now experiencing that consumers stop spending, we get caught in a an even greater down ward spiral. Till now, consumers are still spending. For me, that is now being dramatically curtailed. Just FYI, I normally spend qbout 300 bucks a month on HT related product.
     
  2. Jefferson

    Jefferson Supporting Actor

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    When you start out with plenty o' nothin'.....the stock market doesn't affect that too much. so, i'm still collecting .......some of my friends have been hit pretty hard.
     
  3. Clinton McClure

    Clinton McClure Casual Enthusiast

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    That happened last year when the market crashed and I lost my $36k/yr job as a production supervisor and almost $10k in stocks. I almost lost my car (was 3 payments behind) and was just this side of filing bankruptcy two months ago. Luckily, my parents were able to rally and help me get my car refinanced at their bank which cut my payments in half. Now I'm working two part-time jobs: The first is helping a friend's dad remodel a house and the other is at a local country club because everywhere I apply tells me I am either not qualified (no college degree) or over-qualified.

    I was even turned down for a job with the Dept. of Revenue because I was "over-qualified". Apparently, they think that I'll only work there for a couple months before I move on up in the state jobs so they're not going to waste their time with me. What they can't understand is I need a job because I have bills to pay, I need medical insurance and I need a retirement plan. I'm so desperate for a full time job now, I have even applied at Wal-Mart.
     
  4. PatrickM

    PatrickM Screenwriter

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    I have the same experience as Clinton. When the tech sector sank early last year I was given the package which wasn't that bad a thing because it allowed me to spend 8 months with my son and take the summer off but it also altered my HT buying drastically since my 7 digits worth of options disintegrated into the high 5 digits.

    Goodbye Dynaudio, goodbye Krell, goodbye DLP projector...

    Patrick
     
  5. Tim Abbott

    Tim Abbott Second Unit

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    This is from today's Boston Globe


     
  6. SteveA

    SteveA Supporting Actor

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    Yes, the stock market has affected my HT purchasing, but not for the reason you'd expect. Since the market is down, I see it as a great buying opportunity and just put a little money into the market that otherwise might have been spent on DVDs or more HT gear.
     
  7. Joe Bernardi

    Joe Bernardi Supporting Actor

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    I took my money out of accounts that were losing horribly and bought DVDs with much of it.
    Better to have DVDs than lose all my money. [​IMG]
     
  8. Mark Zimmer

    Mark Zimmer Producer

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    Luckily, I invested most of my assets in DVDs. I won't have to worry about a HT shortage for quite some time as long as I can pay the light bill. [​IMG]
     
  9. Todd Hochard

    Todd Hochard Cinematographer

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    Yes, because I'm doing what SteveA is doing.[​IMG]
    It's buy low, sell high, folks.[​IMG]
     
  10. Josh Lowe

    Josh Lowe Screenwriter

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    Yes, I closed some of my positions and used the money to buy a TV. I figured I might as well have fun with it rather than watch it all disappear.

    I've lost over 50% of the money that I invested 2 months ago. I'm sure the market will turn around and I'll get that money back, but it's still very frustrating.
     
  11. Michael Mathius

    Michael Mathius Supporting Actor

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    I've lost over a third of my portfolio in less than 3 months[​IMG]
    My dvd buying spree has indeed slowed down[​IMG] Guess it's time to replay some of my favorites.
     
  12. Charles J P

    Charles J P Cinematographer

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    Not me personally, because I'm only 23 so I just keep plugging away at my 401K knowing that low markets mean I get more stock for my money. One of managers however, confided in me that he has lost over $500,000 in the last year, which leads me to the conclusion that he is grossly overpaid. Of course, his comment was "easy come, easy go".
     
  13. Edwin-S

    Edwin-S Producer
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    Of course, his comment was "easy come, easy go".
    ------------------------------------------------------------

    Actually, this statement is the one that causes me to conclude that he is grossly overpaid. If it was only his money going I wouldn't give a shit but it's guys with attitudes like his that has resulted in people's money, that doesn't come so easily, disappearing as well.
     
  14. GordonL

    GordonL Supporting Actor

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  15. Blu

    Blu Screenwriter

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    No effect on me and my buying habits at all!
    The stock market has little effect on me going up or down!
     
  16. DanaA

    DanaA Screenwriter

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    To be honest, I got so sick of the market that I started redoing my home theater instead. Spent a bundle, but now, with the market so low, I might gamble and start putting some money into the market. The problem is in reading when the bottom might hit, but, if we could, we'd might be rich. Anyway, for now, all it will take is a few more companies filing for bankrupcy protection or being caught cooking their books or something else to plunge the market into further decline.
     
  17. MikeF

    MikeF Stunt Coordinator

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    I -- and incidentally, most people I know who practice securities law -- do not invest in the capital markets, even by way of mutual fund. Too risky, in my humble opinion.
     
  18. Peter Overduin

    Peter Overduin Supporting Actor

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