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WookieMan saysIt could drop 50% tomorrow and I'd be okay by the time I reach 50.
There are people here under 50?
I read "One Up On Wall Street" by Peter Lynch when I started investing, and I always remembered Lynch saying "Options are a fast game played by some of the smartest people in the world."
That was enough to keep me out of options. I don't short stock either. Or buy mutual funds (except for Vanguard index funds). I just straight out own shares.
I gave you all plenty of warning.
Now, here comes the Depression.
Certain industries will be fucked though for sure.
5)25-30% of renters not paying and haven’t been paying
6)40% of businesses not paying rent
10)shipping traffic way down Due to lack of demand
7)housing dipping down (7% so far)
My SIL is the only one I know not working
WookieMan saysMy SIL is the only one I know not working
My SIL lost high paying corporate job at Marriott HQ. BIL lost high paying IT job.
WookieMan says\My SIL is the only one I know not working
My SIL lost high paying corporate job at Marriott HQ. BIL lost high paying IT job.
I worry about next year
It was about a year a half after the fall 1929 stock market collapse before folks began to realize they were living in something worse than what we now call a "recession".
Winehorror, where was the BIL doing IT? I'm curious as to what industry that was affected.
joshuatrio saysWinehorror, where was the BIL doing IT? I'm curious as to what industry that was affected.
Oracle
Blue saysHe can try at communication sw/hw co. they are still hiring.
What company is that?
I can see that a rational analysis would have called for the stock market to fall, and still seems plausible.
If we hit say August 15th and states are still trying to lock back down
WookieMan saysIf we hit say August 15th and states are still trying to lock back down
They are trying to further sink the economy so that even a slight improvement will make President Biden (and his unelectable Vice President) look brilliant and effective.
.
Buffet said he just loved Wells.
It would require another stimulus round or we're forced to completely open back up and deal with the consequences.
Look, our economy was heavily based on service jobs already which is where we stashed the underclass, there to be our servants when we wished luxury and convenience. Now we have abandoned them and withdrawn to our castles to await the coming of the great vaccine and these people are left in the cold without a job and with the businesses that employed them folding by the thousand every day.
Now big corporations are frothing at the mouth to raise shareholder value by laying off white collar workers who survived the past three months working from home. Come September, they’ll have the green light. Come September, a whole fuck ton of teachers are also going to get the pink slip. And we will still be in a pandemic with media hyping the fear to the moon.
Think that will be good for the economy?
The stock market bounced back based on ONE CALCULATION! That we were going to have a V shaped recovery, and everything would be back to normal by summer or at least by Fall. As that...
- said so many Hipsters in April 1930Whether you like it, or not, the Fed will buy up the entire stock market if it has to, to support asset prices. It's a little more talented than the 1930's Fed, which has been attributed with causing the crash back then.
Fed will buy up the entire stock market if it has to
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Those of you who know me a bit from my history know that I don’t pull this trigger lightly. I didn’t fall for all the bear schemes in the last five years. I’ve been a bullish investor for the past 10 years.
The last time I did this (everything to bonds) was in December of 2007.