massive crash coming bfs everywhere, page-24

a learned colleague told me 12 months ago to expect a large downturn in the markets, with this drop peaking (making its most dramatic fall) in early '09.

back then the bears were well in the minority, but i took the advice and started to shutdown holdings in all but 1 stock. as i held no resources i figured any further gains in the industrials were going to be hard to come by, and having no knowledge of how resources stocks are valued, decided to simply consider if any further highs in MY holdings were possible.

walking away from media, healthcare, and a large leisure holding, at or near record prices, i eliminated ALL debt and concentrated on how to recognise the signals for the downturn, read up on the causes, and prepare for investment at the bottom, which if the same as early 2003, should be fairly easily recognised.

the scale & duration of this downturn are the obvious questions, NOT will it happen.

i WAS a bull, hence my investments across several growth sectors 5-10 years ago, but recognised that the market doesnt always grow, or at least certain sectors dont. i understand many resources stocks may do very well despite the current fears, but equally realised my holdings wouldnt stand the pressure.

all the very best for 2008 to all posters, and as mentioned, be prepared to only play with PLAY MONEY, and dont get caught in any massive debt trap.

fortunes can be made in any part of life - it doesnt have to be NOW.