A 10% drop in the NYSE value is not great news but at least it's nothing like China's market. Those suckers are looking at a 40% downward adjustment.
I read that the head of a metals exchange was detained by a mob of dissatisfied investors and delivered to the local police because of alleged malfeasance. If the bastiges want to emulate US capitalistism maybe they should adopt some Old West policies too, like lynching.
RX Reven' wrote:SnowMongoose wrote: All I know is that my Telsa stock is down SIXTY points in less than two weeks. I mean, I'm anticipating it recovering and then some when the Model X drops, but damn!Oh, we're measuring this in automotive terms. OK, the first new car I ever bought was a 1986 Mazda B2000…I could buy one for every day of the week at its original sale price with what I’ve lost today alone.
So the good news is that you have not lost much today!
And I guess I was wrong, I thought the car would bounce higher, still -500 is not a bad day in today's market environment.
J.P. Morgan on what the stock market is likely to do:
"It will fluctuate."
Forecast a huge up today since the rest of the world ignored China;s meltdown on Tuesday. I think the chickens are tired of running in one direction so they will now run in the opposite direction for a bit until they get scared and run back this direction...
Once upon a time the market had something to do with the value and profits of a company that made stuff. How quaint and naive that seems in today's market.
Today we pour money into an apparatus that has no rules, no logic, no honesty and no driver. It is a great mirror on society.
NOHOME wrote: Forecast a huge up today since the rest of the world ignored China;s meltdown on Tuesday. I think the chickens are tired of running in one direction so they will now run in the opposite direction for a bit until they get scared and run back this direction...
it still does to a degree … it's just that all the other crap has just as big, if not bigger effect on the ups and downs
Well, today was a thrill ride.
The Thunderbolt Luna Park in Coney Island, Brooklyn, New York
All I can say it was a good time to be sitting on cash. I bought in again around 15,600 ark on some stuff that was seriously discounted.
Would now be a good time to get a Vanguard account and buy up some Index funds?
PHeller wrote: Would now be a good time to get a Vanguard account and buy up some Index funds?
Its always a good time to have a vanguard account. But the market is going to do what ever it darn well feels like. I got 37 years till I can retire so this is just a bump in the road.
wearymicrobe wrote:PHeller wrote: Would now be a good time to get a Vanguard account and buy up some Index funds?Its always a good time to have a vanguard account. But the market is going to do what ever it darn well feels like. I got 37 years till I can retire so this is just a bump in the road.
This man speaks the truth.
well, generally speaking, the people who 'win' get in low and cash out high. I know i'm about to change my investment makeup, which was pretty diversified before the decline really began this month.
madmallard wrote: well, generally speaking, the people who 'win' get in low and cash out high. I know i'm about to change my investment makeup, which was pretty diversified before the decline really began this month.
Generally speaking that's kind of bullE36 M3. The people that win are the ones that save a correct percentage of there income over a very long period of time, starting when they are young, and who readjust there allocations at appropriate times. Then live within what they are able to save and invest in the long run. Yes the market can kick you in the nuts when you least expect it but that's why as you get older your risk profile goes down if you have saved for a long enough time.
Of course the market is VERY VERY skewed right now as there is a E36 M3 ton of money, like way to much money, chasing "safe" investments and not enough of them to go around. So people take the next risk class up and then up again trying to chase some magically 4% return that does not exist in the current environment. Thinking that the return is dictating the safety of the investment when that is not the case right now.
in reply to wearymicrobe:
I would agree that you were right up until the last 10 years. At that point the stock market got gamed by Wallstreet, Washington and a vicious cycle of uncontrolled greed. In 2008, the entire street was exposed as a collection of criminals no better than organized crime, and rather than any punishment being doles out, they were told to go about their business as usual. Not only that, but the Fed agreed to spoon feed them the last group of responsible investors by effectively taking their returns from "Safe" to "Zero".
The fact of the matter is that the rest of the planet's markets are in no better shape than China's.
Course, I might just be a cynic also
The right group of people made a killing today because they knew what was going to happen, got in and got out before lunch; its like milking a cow, just go up and down and the money pours out.
wearymicrobe wrote: Generally speaking that's kind of bullE36 M3.
I'm sorry if you were troubled by what I said, but in the context of what was being asked in the last couple posts, it most definitely was not bulls.
PHeller wrote: Would NOW be a good time to get a Vanguard account and buy up some Index funds?
He didn't ask about a projection spread out across his entire adult life...
Some of the issue is there is a difference between speculative investors (folks who work the market for a living) and retirement investors (folks like us just hoping to build a nest egg). They operate on different sets of goals. The former generally cause crap like this to happen as they chase short-term profits. The latter will do themselves a favor by generally ignoring it.
Ian F wrote: Some of the issue is there is a difference between speculative investors (folks who work the market for a living) and retirement investors (folks like us just hoping to build a nest egg). They operate on different sets of goals. The former generally cause crap like this to happen as they chase short-term profits. The latter will do themselves a favor by generally ignoring it.
The thing is that is is more than a "Difference". Its a conflict of interest. The short term speculative investors are there to actually pump the money out of the long term investors accounts. Since they know the rules of long term investing, and the real life habits of the herd, it makes that pool of money literally a sitting duck for these guys.
NOHOME wrote: The thing is that is is more than a "Difference". Its a conflict of interest. The short term speculative investors are there to actually pump the money out of the long term investors accounts. Since they know the rules of long term investing, and the real life habits of the herd, it makes that pool of money literally a sitting duck for these guys.
So beat them at their own game. Invest in a vanguard total market index, don't touch it for 35 years, and retire. If you're not trading, it's awfully hard to get taken advantage of by speculative investors/traders.
And to the person that said the last 10 years is different, I'm sure the experts agree with you. In fact, they've said that every ten years for the past hundred .
Flynlow wrote:NOHOME wrote: The thing is that is is more than a "Difference". Its a conflict of interest. The short term speculative investors are there to actually pump the money out of the long term investors accounts. Since they know the rules of long term investing, and the real life habits of the herd, it makes that pool of money literally a sitting duck for these guys.So beat them at their own game. Invest in a vanguard total market index, don't touch it for 35 years, and retire. If you're not trading, it's awfully hard to get taken advantage of by speculative investors/traders. And to the person that said the last 10 years is different, I'm sure the experts agree with you. In fact, they've said that every ten years for the past hundred
Canuks can't own Vanguard accounts or I might be tempted to have some exposure. We pay "Financial Advisers" 2.7% to take our money and use it as toilet paper.
Bailed just before it all went to E36 M3 last time and not going back. Got enough to get to the grave buried in car parts. What more can I ask for?
Another personal reason for staying out is that Americans living in Canada would have to pay taxes on any profits to both the Canadian and the US governments. The tax treaties only cover "Earned Income" as in your paycheck, not investment income.
In reply to NOHOME:
Gotcha. I can understand your frustration then. Still, for those in the U.S. it is a good strategy. Are there no options similar to vanguard?
Regarding the taxes, as long it is only on the profits, it is still to your advantage as long as you're making money with your investments. 50% tax on earnings-only is better than 0% tax on no growth/holding cash.
If you've got enough to GRM your way through retirement and keep yourself in cars and parts, you'll probably be fine haha.
FSP_ZX2 wrote: Invest in LEGOs; they have outperformed the market in the last 15 years. Whodathunk?
But does that require not building them?
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