Obama and my 401(k)!

stengun · #1 (**permalink**) 04-29-2009, 06:27 PM

Howdy Everybody,

I just checked my 401(k) and since 11-05-08 (The day after the election)until 04-17-09 (Friday), my 401(k) has increased 79.0%!!!!!!

Thank you President Obama!!!

Yeah, from 4-1-08 untill 11-04-08 I had a return of -13.4%!

From 4-18-07, the farest the online bit would go back, to 11-04-08, election day, I had a return rate of -14.8%!

From 01-20-09 to 04-17-09 I had a return rate of 33.7%

1.) Did Pres. Obama have anything to do with this?

2.) Did it take several years for all the "Good Stuff" that the Repubs do to finally kick in?

3.) Am I just a heck of a smart guy and outsmarted Wall Street?

4.) I'm just dumb as a rock and I got lucky.

I BS you not. These numbers came straight off my 401(k)'s online statement.

Paul

P.S. Actually what I did was listen to a bunch of guys at work that claim to know how the stock market works but really doesn't have a clue, then I just did the opposite!

joe g · #2 (**permalink**) 04-29-2009, 06:48 PM

Well mine has dropped 40% since december, just like ALL of my friends and co-workers,
why not tell us your secret
joeg

trularin · #3 (**permalink**) 04-30-2009, 06:24 AM

Mine is up a bit, not like these 14% reports, but it is not in the hamper like it was with "the other guy" in office.

As soon as I get close to what it used to to be, I am thinking of putting a bigger percentage into the protected fund.

cobra de capell · #4 (**permalink**) 04-30-2009, 08:16 AM

So, tell us what mutual fund (ticker symbols) returned those results this year - sounds impossible, sort of like it's really a minus not a plus.

Or, is your investment in the company that you work for?

Roger Cormier · #5 (**permalink**) 04-30-2009, 09:05 AM

Mine also gained !!!!!!!
Better than my losses last Year ;-) !!!!!!!!!!!!!!!!!!

DAVID GAGNARD · #6 (**permalink**) 04-30-2009, 09:36 AM

Mine are slowly as in verrrryyyyyy slowly coming back, at this rate, I'll probably be able to retire when I'm 80!!!!!!!!

, I'm 53 now............

David

Jamo · #7 (**permalink**) 04-30-2009, 10:16 AM

stengun...you one of those pirate "investors?"

392cobra · #8 (**permalink**) 04-30-2009, 10:19 AM

What would help the stock market on a daily basis is if "o",the TOTUS,would stay off TV and just STFU.

Every time he comes on and starts reading to us,the market takes a dump.

Today he came out read us his latest plan and the market dropped 150 points as he read.

stengun · #9 (**permalink**) 04-30-2009, 08:00 PM

Howdy Everybody,

Like everybody else, my 401(k) had been on a downhill slide. Every week, I put money into my 401(k) and the next week I had less money. More stock, but less money.

So, something like March '08 I took all my 401(k) and put it into a total bond fund. It was at $9.97 a share/unit. On Nov. 20, 2008 it was worth $9.98 a share/unit. I didn't make any money, but atlest I stopped losing money.

So, on Nov. 20, 2008, I took half of my 401(k) and bought company stock on the company that I work for. General Cable. http://www.generalcable.com/GeneralCable/. I bought in at $7.02 a share. Then, on Nov 21, 2008, I took the remainded of my 401(k) money and bought BGC at $7.62 a share.

Today, April 30, 2009, BGC closed at $27.14 a share. http://www.google.com/finance?client=ob&q=NYSE:BGC

Gee basic math.......

$1,000.00 divided by $7.02 share= 142.45 shares

142.45 shares X's $27.14= $3,866.09

Gee, this works out to about 386.6% increase.

Then $1,000.00 divided by $7.62 share= 131.23 shares

131.23 shares X's $27.14= $3561.58

Gee, this works out to about 356.1% increase

Add all this up, add in my contribution amount and based on the stock market's closing prices yesterday ( the online statement is always a day behind) and my rate of return was 79.9%

I'm not sure how this works, but it's what was stated on my online statement.

All the General Cable plants in the USA and Canada ( GC owns plants worldwide) are union plants. Myself and all my union brothers and sisters can buy company stock with our 401(k). Since we can do this and most do, it is my/our best interest that the company is profitable. The vast majority of us, sure there's a few dead beats, try to do our best. We have made a marked reduction in waste, and have cut operational cost as much as we can. Plus we are still working on this. The more profit the company makes, the more money we make. Plus the better the corporation preforms profit wise, the more the value of the stock goes up. This means my 401(k) is worth more. Plus my/our job doesn't move to Mexico or China.

Kinda a WIN-WIN for everybody.

Check out the link to the stock price. It had been on a steady roll since 9/11 until everything kinda went south. Looks like it's back on a roll again.

Paul

Jamo · #10 (**permalink**) 05-01-2009, 11:40 PM

Yup...good thing the Bush Administration pushed for going 100% digital.

427 S/O · #11 (**permalink**) 05-02-2009, 03:16 AM

Wish I had moved everything to 'auto parts companies' last fall.

BlueRooster · #12 (**permalink**) 05-02-2009, 05:01 AM

Yes Paul, you got lucky. And yes, obama had nothing to do with it.

Stentor · #13 (**permalink**) 05-02-2009, 11:29 AM

It's not typically viewed as a wise move to have half of your money invested in a single stock/security. Diversification of your assets helps hedge downside risk.

That wave you rode up over the last few months with GC stock can come down pretty quickly, as well.

Good luck.

cobra de capell · #14 (**permalink**) 05-02-2009, 12:20 PM

Plus, Obama doesn't like those that profit so much - he probably has someone monitoring this event, so stengun is now a target or at least a suspect.

392cobra · #15 (**permalink**) 05-02-2009, 01:29 PM

I called my Stockbroker/Advisor yesterday morning and asked him what I should be buying -

...he said "Canned goods and Ammunition."