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  1. #1
    Senior Member Zookeeper's Avatar
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    Reef Keeping Hobby and the "R" Word

    I work as a Financial Planner.

    By now, I'm sure that everyone is aware, that world stock markets have gone through a significant sell-off over the past few weeks.

    Stock markets are known in economics as "leading" indicators. This means that stock market activity tends to be indicative of what is coming economically. Right now, I can tell you guys, that the market sell-off around the world in that last three weeks means that investors as a collective certainly believe that we are now in, or are about to be in, a recession.

    Reef keeping is an expensive hobby.

    I'm curious as to how people feel. Are you worried about your own economic situation? Planning on getting out of the hobby? Delaying getting into the hobby?

  2. #2
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    having recently fired up the tank again after all the flatworms/redbugs/dinos
    I totally had to go about it on the cheap.only 2 MH instead of the 4 and things like that. it will be a mostly softie tank and some LPS so no need of reactors. all due to the cost of energy and impending costs coming like property tax increases.

    my wife just told me on friday that all her WALMART stock for the past 5 years in GONE!!!!
    another staff member was looking to purchase a house last week and when they went to pull there money out for a FIRST TIME HOME BUYERS PLAN they got a shock! only 5 g left out of 15grand

  3. #3
    Senior Member Zookeeper's Avatar
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    Hey Johnny.

    Exactly 5 years ago Walmart was trading at $58.95/share. Over that time period it was as low as $43.82 in Sep. 2005 and as high as $60.74 in Sep. 2008. Currently trading at $51.82 and carries a 1.8% dividend yeild. How can her stock be gone?

    The stock market has taken a nasty dip for sure, but what the heck was your friend in that it lost 75% of it's value?

  4. #4
    ijo
    ijo is offline
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    I don't plan on changing anything as my tank is only a 26 gallon running T5's... cost to run is not an issue.

    IJO

  5. #5
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    For me, it's more about the weak Canadian dollar again. So, I won't really change my current tank/spending, but I'm not planning an upgrade anymore (I was looking at upgrading from a 58 to a 180 with little reusuability between the two).
    58 gallon display, 20 gallon sump, Octopus Recirc 110, Mag9 return. Nova Extreme lighting.
    55lbs live rock.
    Yellow Tang, 2 Clowns, Kupang Damsel, Yellow Watchmen.


    24 gallon AquaPod, 24lbs live rock.
    Valentini Toby, Coral Beauty, various snails, hermits.


    12 gallon AquaPod, 12lbs live rock, lots of mushrooms.

  6. #6
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    Smile

    I'm not sure but I'll ask veronica to clarify what she told me.

  7. #7
    liv
    liv is offline
    Former Moderator liv's Avatar
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    It definitely hurt my stocks/trades & rrsp's. But, i've been trading for years, and I actually see this as a possible gain on my end by buying currently low stocks and within a few years sell for much higher. For a while, I thought about stopping my purchases of rrsp's but on the long run, its going to be a gain, and i'm not close to retirement, so those rrsp's can fluxuate as much as they want for quite a few years.

    as for my tank, I have slowed down on my purchases lately.. ( only did a few "needed" upgrades ) I say needed with brackets cauz the tank desperately needed more circulation.. corals are slowing the flow quite a bit more since the beginning. but that will be it for me for a while. I will concentrate on other things around the house. I have another baby on the way, so that will also mean I may have to look for another vehicule, and more baby clothing, baby room stuff.. bed etc.

    for you guys that lost prices on shares.. dont sell, thats what everybody is doing.. and its bad.. keep them, they will come back in time if you invested in fairly safe places. my 0.02 cents.

    I have also invested in a wood stove for this winter, I will be heating my place with wood only, cutting my gas bill to the minimum from now on.

    moving.. so temporarily out of SW :b8:
    planning next tank, possibly 60x30x20 on 2x plasma.
    updated: 2011/05/30

  8. #8
    Former Moderator a4twenty's Avatar
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    i'ce decided to hold off on upgrading and am only spending money on the important stuff for now. ( yeah right, just got a call that some 6" maxima's are coming in this week :b12: )

    but i wont be getting out of the hobby, just more careful about purchases.
    `

    120S RR tank with 60G basement sump / fuge

    Return Pump: Little Giant 4-MDQX SC
    Water Movement: MP40W, Seio 1500, (2) Hydor K4's
    Lighting: 400W SE MH with 10K Venture
    Skimmer: Euro-Reef RS250 with gate valve
    Other: RODI, RDSB, PO4/AC reactor


    My Gallery

  9. #9
    liv
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    absolutely.. can't miss a sale
    I'm also trying to help the local shops only and trying to stop bying from the net. helps are local economy.

    moving.. so temporarily out of SW :b8:
    planning next tank, possibly 60x30x20 on 2x plasma.
    updated: 2011/05/30

  10. #10
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    I am about to drop 1500$$ into a new setup! See my thread in reef discussions! I say meh, if everyone tightens up, the 'R' word will certainly become the dreaded 'D' word. As for shopping online, I agree. I am trying to see if the local sponsers can help me out on this huge puchase vs some conglomerate.
    I had my whole nest egg in BCE and sold @ 40 in May, figured it was more about what I could lose than about what I could gain.... the spoils are sitting in cash waiting for all this to bottom out... maybe Intel, I do not think computers are going away soon.

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