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Thread: Boy, that Dow

  1. #181
    Senior Member iris lilies's Avatar
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    Quote Originally Posted by Alan View Post
    I finally looked the other day and was relieved to only be down several hundred thousand, I thought it might have been more. I'll look again in mid-summer in hopes that we'll be on our way back to where we were.
    Yes, thatís me too. I avoided this thread for a week or more. I removed the Stocks App from my iPad because I donít want to know the value of the Dow. I turned off the radio because theyíre always yapping about Market plunges. that. Yet somehow I saw the number. I donít look at our own valuations because I have no reason to think it is better or worse.But if only if itís only a few hundred thousand down, thatís not a big deal, I can live with that.

  2. #182
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    Quote Originally Posted by catherine View Post
    It's true that our American/capitalist culture has turned greed from being one of the 7 deadly sins into being a virtue, but "buy low" is not a definition of greed IMHO.
    Well, I suppose you could buy low with no intention of sullying yourself with sinful profit, but what would be the point of that?

  3. #183
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    If it would only stay at a few hundred thousand down, I could live with it.... BUT with all businesses closing and no end of that in sight, I cannot see losing any more. I had too much in the market, so I tapped out some of my roth. I will sleep better. If we lose the rest of it, we still will have enough to live for the rest of our lives. In this case, we have enough. I guess you have to decide what is enough for you both in losses and money in hand.

  4. #184
    Senior Member catherine's Avatar
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    Quote Originally Posted by LDAHL View Post
    Well, I suppose you could buy low with no intention of sullying yourself with sinful profit, but what would be the point of that?
    Last night DH and DS decided on the movie of the night: Dark Waters. It's about how Dow Chemical intentionally poisoned a whole town so earnings on Teflon would not be impacted. That is greed in the name of profit. Phillip Morris intentionally withheld information about the dangers of smoking for decades until they were exposed by the media. That is greed in the name of profit.

    I'm not a theologian nor an ethicist, but IMHO, a retired accountant looking to bolster his savings by buying low during an economic slump is not in the same category. I absolve you (sarcasm intended).
    "Do any human beings ever realize life while they live it--every, every minute?" Emily Webb, Our Town
    www.silententry.wordpress.com

  5. #185
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    Buying the market now is maybe one of those get rich or go broke things (and maybe only so rich even so). Well let's hope it's get rich then

    By the by, I don't need to do either, I'm just doing as we're supposed to to have a retirement, regular contributions, even if it never materializes, well that was a possibility all along.
    If you want something to get done, ask a busy person. If you want them to have a nervous breakdown that is.

  6. #186
    Senior Member Rogar's Avatar
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    If I were a stock picker Amazon or Netflix might tempt me into a few dollars of investment. I suspect they are both overpriced. My risk tolerance is not up to any additional investments now, but it seems like there could be some market beaters aside from biotech, which I suppose are popular right.

  7. #187
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    I have little faith in my (or anyone elseís) ability to consistently time markets or pick stocks, so I maintain a static allocation in index funds that I rebalance to quarterly. That way Iím generally buying stocks when theyíre out of favor and selling when theyíre in favor. I keep a separate emergency reserve in cash and short term government issues, and our daily expenses come from a pension, annuities and a bond ladder, so Iím fairly certain Iím only risking capital I can afford to risk.

    Itís boring, but relatively safe. When people claim to have ď seen it comingĒ or to have sold at the perfect time, I can at least say that while no plan is bullet proof, my approach limits risk and is relatively cheap and easy to operate.

  8. #188
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    Quote Originally Posted by LDAHL View Post
    I keep a separate emergency reserve in cash and short term government issues, and our daily expenses come from a pension, annuities and a bond ladder, so I’m fairly certain I’m only risking capital I can afford to risk.
    I think this is an important distinction with this particular market.

  9. #189
    Senior Member Rogar's Avatar
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    I could get a little nervous about what would normally be called safe havens. I suppose the fed will just print up money to cover the remote possibility of a treasuries default and insured savings with illiquid banks. I could see municipal bonds taking a hit but the fed might bail them out depending. I'm less sure about investment class bonds. Maybe the government will come to the rescue if airlines or big oil get into trouble, but during the last financial crisis bailouts were not popular among all. Then there's the "high yield" bonds. A small part of my portfolio is a high yield bond fund. I think the bonds are pretty much in the junk category and I could have some concerns there.

    Other than grandma's sterling I don't own precious metals, but that safe haven or contrarian asset class has been taking a hit.

  10. #190
    Senior Member SteveinMN's Avatar
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    Quote Originally Posted by LDAHL View Post
    When people claim to have “ seen it coming” or to have sold at the perfect time, I can at least say that while no plan is bullet proof, my approach limits risk and is relatively cheap and easy to operate.
    My experience is that those folks may have caught the lightning bolt once but they won't do it a second time (on the way back up or down; whichever way the market is headed).

    Quote Originally Posted by Rogar
    A small part of my portfolio is a high yield bond fund. I think the bonds are pretty much in the junk category
    "High yield" is a euphemism for "junk". Kind of how they've changed the names for grades of meat. I have some of those, too, a very minor part of our portfolio. They can provide some nice upside potential but I would never predicate my financial future on them.

    Still waiting for the bottom of this market. I believe there will be at least a 50% drop in the Dow (not far from that now) before things level off. In the meantime, if Congress can agree on a "rescue" plan, I think the market will go up one or two thousand points on the day that's announced -- and then the market will go down again once people have had a chance to figure out what the plan covers and doesn't cover. There will be a bump the day a treatment or vaccine is announced by some university or clinic (not by Dr. Trump in the briefing room). And more drops as the death toll increases. There's nothing settled about this market yet. But if you're still in it, you ought to stay in it.
    Success is to be measured not so much by the position that one has reached in life as by the obstacles which he has overcome. - Booker T. Washington

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