What percentage of "experts" forecasted the Dow meltdown?

Question

I am just curious, if there is a number for incompetence. 10th of millions of hard working citizens are loosing trillions in their 401k's since july 1999. How long will the deception last, because the once, the public realizes, the 410k's are an illusion, the dow will go down to 3000, where it belongs.

Answer 1

i went down 10 % sincce last month i think and with big numbers

thats alot of %

Answer 2

Certainly, the experts are an overwhelming lot of optomists by about an 80-20 ratio.  And I have no doubt what so ever that some 401k accounts from the 1999 period did suffer severely.  But I do not believe that there was trillions in losses at least not for those who stuck with it and continued adding to the accounts at a 6% rate and had a diversified holding, not just the over glorified growth stocks.  Their average assets should have increased about an average of about 8% annually including the period from 1999 thru 2002.  

Certainly, when the market sells off there is a great deal of concern among those who watch the value of their 401k accounts drop by 10%, 15% or even possibly more by those who chose to go the aggressive path.  And the economic policies of the U S government are not particularly confidence buiding.  There certainly is the possibility that the Dow may drop to the 3000 level again but that indeed would be quite a drop.  I don't see that happening myself, but it is overloaded with financials which could indeed have a detrimental effect or perhaps I should say has had a detrimental effect.  Too bad X was removed sometime ago by JP Morgan.   It could have propped up the average greatly.

Answer 3

401k's are an illusion but not for that reason, they will most likely make a you a millionaire in 30 years like the media will tell you, however the catch is that in 30 years a million bucks wont be enough to buy a nice car thanks to inflation.

Answer 4

7.3%

Answer 5

This is a selloff based on hard data.  Slowing economy and $140 oil is what has put us in this bear market.

THIS IS NOT A MELTDOWN

A meltdown would be a 50% drop with the brokers jumping out of windows.  We are 20% off of our highs right now.

401ks are a great vehicle for retirement preparation since that the days of pensions are long gone.

Less than 1% would be the percentage of "experts" that predicted this.