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Thread: Boy, that Dow

  1. #191
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    I read somewhere that the best investor is the lazy investor. One who does dollar cost averaging and only looks at his or her portfolio occasionally. One that does not panic but stays the course.

    I took a glance at our portfolio last week, then closed out and vowed to not look at it again until this crisis is over and the market settles down. We moved into a more conservative portfolio last spring because we are entering the distribution stage in the next year or two. So the loss was not as bad as it could have been if we had kept the original allocation. But of course a loss is not really a loss unless you cash out.

    BTW, we are in index funds and the rebalancing is done for us at Schwab. So our account is on automatic pilot.

    We are fortunate that I have a pension, my husband has social security and we have a couple of annuities. So we are going to sit tight, stay frugal and ride this out.

  2. #192
    Senior Member jp1's Avatar
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    I had sold some stuff before all this, not because I'm a market timing genius, but because I was in the process of rebalancing and didn't quite finish... Now, between having a whole bunch of cash that I'll be reinvesting into index funds once things calm down a bit, and the fact that I'm still aggressively saving, but buying at lower and lower prices, I'm reasonably confident that if I can keep working another 10 years I should be fine.

  3. #193
    Senior Member dmc's Avatar
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    I rebalanced a little back in February, sold some stock. I rebalanced again a week or so ago, bought some stock. If it keeps dropping I may have to rebalance again. I like it better when I’m selling stock.

  4. #194
    Senior Member jp1's Avatar
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    We should all be holding off on that rebalancing. The Texas Lt. Governor has a plan for saving the economy. Admittedly it’s a bit of an odd plan for someone from the party of ‘family values’ but heck, desperate times (and what could be more desperate than a falling stock market) call for desperate measures.

  5. #195
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    Quote Originally Posted by jp1 View Post
    We should all be holding off on that rebalancing. The Texas Lt. Governor has a plan for saving the economy. Admittedly it’s a bit of an odd plan for someone from the party of ‘family values’ but heck, desperate times (and what could be more desperate than a falling stock market) call for desperate measures.
    As a grandparent myself, I think I understand where he is coming from. I think he is saying he would sacrifice himself for them to have a normal life. That is different than saying what could be more desperate than a falling stock market.

  6. #196
    Senior Member JaneV2.0's Avatar
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    As far as I'm concerned, all those oligarchs who want me and others to die to save the bloody stock market (like that's a solution) can go first. But they're not keen on dying themselves, their advice is for the rabble, the "47%." #NotDyingForWallStreet

  7. #197
    Senior Member jp1's Avatar
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    Quote Originally Posted by Tybee View Post
    As a grandparent myself, I think I understand where he is coming from. I think he is saying he would sacrifice himself for them to have a normal life. That is different than saying what could be more desperate than a falling stock market.
    Personally I don’t want to die for the Dow. And wouldn’t want any of my older friends and family to do so.

    And at the end of the day it’s just a stupid idea like so many republican ideas. If we stop socially isolating it’s not like just old people will be affected.*. Lots of worker age people will also get sick and have to take time off/drop dead and ultimately the economy will be worse off than it would be if we as a society act like mature adults and do our best to slow the spread of this disease.

    *let’s look at liberty university about 3 weeks from now to see how the republican stupidity of ‘pretend like this isn’t a big deal’ plays out.

  8. #198
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    JP, I never said I wanted to die for the Dow or that anyone else should, either. Please do not mischaracterize what I said.

  9. #199
    Senior Member JaneV2.0's Avatar
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    It's reported that South Korea--a country that took this pandemic seriously--is almost back to normal. Their economy will probably rebound quickly. Our foot-dragging, denial, and misdirection won't serve us well. Listening to Governor Cuomo having to beg for medical equipment is chilling, as is Trump's reply--basically "Get it yourself; it's not my responsibility." Disgraceful.

  10. #200
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    Quote Originally Posted by Molly View Post
    I read somewhere that the best investor is the lazy investor. One who does dollar cost averaging and only looks at his or her portfolio occasionally. One that does not panic but stays the course.
    .
    There’s a great web site called “The Oblivious Investor”.

    To me, it’s one of those “never assume you’re the smartest guy in the room” things.

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