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News Dow bouncing around -1000

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Homerboy said:
I work in the collections industry. A (short) recession actually helps us... though I don't want it to happen.
I'm guessing the health care industry will be looking for lots of extra hands in the near future too 🙁
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What makes this so much worse is we are in the middle of tax season and in Canada we are days before the contribution deadline for RRSPs. Plus the fact the Canadian markets all shut down at about 2 yesterday. That and the slide on it's own would be horrible but add in the other factors and I want to cry here...
 
TheVrolok said:
Turns out, if our institutions (Healthcare related) manage Coronavirus appropriately, the natural course of the disease isn't significantly changed, and the markets show any sign of recovery... Trump's reelection is almost guaranteed?

Maybe it'll trigger a longer term correction which is due anyway, I guess we'll see.
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I'm not so sure about how a small recovery helps at this point, we're just too far down.
If everything stops getting worse right now, we will not bounce back to where we were because some disruptions have already occurred and will need time to recover. The best case, as I see it, is the market recovering this week's losses by the end of the year, and I don't think this situation guarantees Trump's reelection by any means.
I also don't think this case is likely at all.
 
LurchFrinky said:
I'm not so sure about how a small recovery helps at this point, we're just too far down.
If everything stops getting worse right now, we will not bounce back to where we were because some disruptions have already occurred and will need time to recover. The best case, as I see it, is the market recovering this week's losses by the end of the year, and I don't think this situation guarantees Trump's reelection by any means.
I also don't think this case is likely at all.
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It takes a lot longer to blow a bubble than to pop it.
 
MomentsofSanity said:
I'm quite calm market wise. It's dealing with jumpy clients in panic mode that is the challenge. Walking people off the cliff all day.
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So far, the market has knocked a bit of froth off the top. Needs a much deeper drop to get P:E ratios anywhere near historic norms. I say, "Let them jump."
 
GOP got thumped in 2008 because Bush couldn't delay the damage he was doing to the economy long enough to blame it on Democrats. Seems they didn't learn their lesson. Lucky for them Americans have short memories and are fully conditioned to hate Democrats anyway.
 
well 6 months ago i put 80% of my 401k in a high interest savings account. When I see a slight non cratering maybe ill throw it all in.

I should say 80% of my contributions. I wasnt THAT smart.
 
JSt0rm said:
well 6 months ago i put 80% of my 401k in a high interest savings account. When I see a slight non cratering maybe ill throw it all in.

I should say 80% of my contributions. I wasnt THAT smart.
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I had a decent % of portfolio in cash, but did some recent buying.
I guess I could have sold Tuesday and still been in the green and cashed those out, but I hate doing the panic selling. Too easy to get caught in a whipsaw and end up losing money over just doing nothing.

Outside of my retirement accounts, I'm more hesitant to sell as some were short term gains and I didn't want to trigger taxes.

I have a long position in AAPL from the shutdown crash in 2018 I own at $165. Again, could have sold and owed a good amount of taxes as it had doubled... But would hate to hit worse case where I sell, pay a bunch of taxes, then miss the ride back up and end up in a weaker position. IDK.

Contributions mostly directed into cash.

It's bonus time too, so some extra cash on top of normal coming in.

I'll have a good amount of ammo when the smoke clears.

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fskimospy said:
This would be the part of your job I would hate. Talking down/placating angry and freaked out clients every market downturn.
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Nothing is more emotional than money. And no one listens when it's their money involved. I get it. But you have people like us for a reason. If you know better, don't waste our time!
 
MomentsofSanity said:
Nothing is more emotional than money. And no one listens when it's their money involved. I get it. But you have people like us for a reason. If you know better, don't waste our time!
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This is why I only look at my investments every quarter or so. I assume I’ve lost a significant amount of money in the last few days but I have no idea how much. As I’m not looking to access it for at least ten years what it’s doing today is largely irrelevant. It’s a video game score at the moment.
 
fskimospy said:
This is why I only look at my investments every quarter or so. I assume I’ve lost a significant amount of money in the last few days but I have no idea how much. As I’m not looking to access it for at least ten years what it’s doing today is largely irrelevant. It’s a video game score at the moment.
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my approach as well (except ~40 years), being only 33
 
fskimospy said:
This is why I only look at my investments every quarter or so. I assume I’ve lost a significant amount of money in the last few days but I have no idea how much. As I’m not looking to access it for at least ten years what it’s doing today is largely irrelevant. It’s a video game score at the moment.
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Jack Bogle approved!
 
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