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Just like I did last time (2009). Sell them and buy stocks on the upswing
have you considered cash instead?
I've been out of the market for five years. Everything is in CDs with my credit union. I am 67-years-old, retired, debt-free, and have a positive cash flow. Most of my estate is going to charity after I pass away.
So, there's never going to be any more crashes?
I've been out of the market for five years. Everything is in CDs with my credit union. I am 67-years-old, retired, debt-free, and have a positive cash flow. Most of my estate is going to charity after I pass away.
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.
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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.