Bashers Taking Their Pot ShotsGo ahead bashers, take your potshots. Some how you think that SRU's share price is being valued at where they should be under normal circumstances. Fact is nothing could be further from the truth. Why don't you just try and find a stock that has not gotten slaughtered! SRU is like EVERY other stock and has gone down because of the U.S. banking system. This stock along with every other stock is oversold, no one can claim that it isn't, there is just a lot of people selling everything out of fear. There are some crooks behind all of this, they are feeding the media frenzy and selling short to make their cash. I always thought shorting should be illegal anyways and the fact that these people(I am sure this includes the bashers, except for Rob, he's to stupid to figure out shorting!) should burn in hell for what they have done to people's life savings. They are not helping this and if the government's trully wanted to correct the market they would stop all shorting. I do not know how these people can live with themselves, doing anything that it takes to scare the market even more?
I am not scared if what is going on, yes I have lost a lot of money but you know what, I have time on my side, I am down a lot in SRU, but that was just paper gains, I am in fact about even from where I bought the majority of my shares. It is the rest of my portfolio that has taken a big hit, my mutual funds especially. But like I say, I have time and in the end we will pull out of this, it may take 5-10 years but it will happen. We may even see some deflation along the way which will help some make it through. The one's I am most worried about is the baby boomers who have just entered retirement or were just about to. This includes my parents(thankfully my father is very conservative in his investing) and a lot of friends I have made in my life. My time line for retirement is still 20 years off so my portfolio is safe, it will have come back and had plenty of time to grow.
I also feel sorry for the millions and millions of people in the States who have lost everything, their home, their retirement., their vehicles. Their 401s have taken a huge hit and will take some time to come back. In the meantime, they have to put off retirement and stay in the workforce in order to get back to where they were. My heart truly goes out to them and hope that they will be able to pull themselves out of this. The governments are doing what they can, it just takes time and the markets need to hit their bottom and then we can get to rebuilding lives. Not even the best economists in the world didn't see this coming and I am sure there was not one average investor, nor banker who saw this coming. Some said that there would be some pain going forward but not one person thought that it would come to this magnitude.
What must be looked at is the fact that there is going to be a bottom and that China, India, Russia, Brazil and many other countries are in better shape and once this turns around they will continue their industrialization. This will lead to many jobs, higher metal prices than current, more demand for minerals, oil etc. and then the world will be able to pull itself out of this mess. There always will be light at the end of the tunnel.