Joined: 26/May/2008
Location: India
Online Status: Offline
Posts: 721
Posted: 08/Oct/2008 at 3:33pm
I have some cash.
Waiting for my next salary, which is some three weeks off.
Actually, prices are going down so much that I've actually started saving some money.
Never thought about saving anything earlier.
"History does not tell you the probability of future financial things happening" - Warren Buffett
Joined: 01/Jan/2006
Location: India
Online Status: Offline
Posts: 18403
Posted: 08/Oct/2008 at 3:46pm
Don't you carry credit cards?
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Joined: 26/May/2008
Location: India
Online Status: Offline
Posts: 721
Posted: 08/Oct/2008 at 4:19pm
I don't have a credit card. Aajkal banks bahut cautious ho gaye hain.
A friend who works with Kotak Securities and has a seven-figure salary was rejected a credit card by Citibank.
Edited by kumardiwesh - 08/Oct/2008 at 4:20pm
"History does not tell you the probability of future financial things happening" - Warren Buffett
Joined: 12/Feb/2008
Location: India
Online Status: Offline
Posts: 310
Posted: 08/Oct/2008 at 10:21pm
Paramount is your composure and ability to ignore whats happening in the markets when it gets too extreme. Construct a portfolio that you shouldn't need to liquidate atleast for the next 3 years. Be mentally prepared to face a time when your portfolio may be down and you want to buy more but cannot. Never lose control of your cash flows and you'll be fine after 3-4 years. If this is once in a century event, I hope we come out of it and use what we learn from it.
Be fearful when others are greedy. Be greedy when others are fearful.
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