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Old 02-22-2021, 09:36 PM
Ken07AOVette's Avatar
Ken07AOVette Ken07AOVette is offline
 
Join Date: Dec 2008
Location: Alberta
Posts: 24,076
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Quote:
Originally Posted by roper1 View Post
Ken, I feel very badly for your friends & their dad. But they made some sort of catastrophic misjudgment call. How did they create that type of money in the first place? Every investor has ups & downs. To lose it all suddenly is quite unusual. !
2008 was a market crash. To say it was their fault is well unspeakable.

Their money was in mutuals, and when 2008 hit they were gone. They put their money in the bank, who talked them into mutuals. Not sure how that is a catastrophic misjudgement call made by them.

found this online-

Based on the U.S. history of previous market crashes, investors who are currently entirely in stocks could lose as much as 80% of their savings if the 1929 or 2001 crashes repeat. If we have a repeat of the 2008 crash, the loss would be “only” 56%.
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Originally Posted by Twisted Canuck
I wasn't thinking far enough ahead for an outcome, I was ranting. By definition, a rant doesn't imply much forethought.....
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