Don’t forget is easy to tell other people what they should do with their money. Your loss isn’t my loss. even with an appropriate allocated portfolio losses like we seen will sting. it may sting less for the 62 year old guy that is sitting on 30 percent equitys then me sitting on 85% equities. However It still stings. And time isn’t something everyone has.
Anybody Buying Yet? Where’s the Bottom?
- Thread starter NEWHunter
- Start date
noharleyyet
Well-known member
"Lord let me get back to close to even and I'll put it all in the mattress savings & loan." -me
SAJ-99
Well-known member
When no one wants to buy.
Nick87
Well-known member
Reading all this sort of makes me glad I've been doing just that all along.
you bet it stings, regardless of ones age and/or their investment allocation.
After my post yesterday a few fellows ask me via pm about my selling puts at my age. Way back in the 1960's my husband said to me "with your positive attitude and desire to live life to the fullest we need to invest for income" So besides starting our own business, we bought real estate both for the investment but also the income. Today with the properties being paid for the income is nice. But we also invested in the stock market, both blue chip and OTC, bought gold and silver coins, even a few numismatic. We are way up on Gold/Silver at this point, but who knows what the future holds ?
When we got older we structured much of it with the intention of helping grandchildren with their college education and my desire for us to do as much as we could for as long as we could (-:
Back to the selling of puts. This is a small portion of the portfolio and I enjoy it, but I do not recommend "options" as an investment vehicle. I recently bid on a rifle that Brent would love, but even if I get it, I will never use it--but someone in my family will--or i could give it to Brent. (-: Either way, somebody someday will turn a buck on it, but I also dont recommend this as an investment vehicle--but like selling puts, I enjoy it (-:
Noharleyyet is not all wrong---we did that also, especially after 1987 )-; My best advise is to try not to pay interest, or at least not for long---credit cards, vehicles, even homes--
Good luck Guys and remember you can't buy youth or health. And it dont cost much to have a barbecue with your family tonight and shoot a hew hoops together in the back yard.
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The push for a broad fiscal response is ramping up. The money is already being spent and the the knives are unsheathed so they don’t miss carving their pound of flesh.
While everyone is distracted with payroll tax suspension the the real money will go out the back door.
this list will get longer.
https://projects.propublica.org/bailout/list
While everyone is distracted with payroll tax suspension the the real money will go out the back door.
this list will get longer.
https://projects.propublica.org/bailout/list
SAJ-99
Well-known member
thusby
Well-known member
Petroleum. Loading up on OXY and HAL right now.
Better believe I am happy to be proven wrong
Good luck - you are braver than me!
stealthy_bowman
Well-known member
Again, unless you believe this is the end, I see no reason not to buy things like an S&P index on the drastic declines that we have been having. If it is the end, then who cares anyway. As for me, I have a 15 year time horizon and I believe we'll get through this and many other obstacles along the way. I'll stop buying the dips (or crashes if you will) when I am within 5-7 years of retirement. Just put your helmet on, hunker down, and don't panic.
VikingsGuy
Well-known member
If OXY avoids bankruptcy you may have gotten a deal - if not you may get zeroed out. Not a market play for the kid's college fund, but could be a winner nonetheless.
thusby
Well-known member
Might as well dump some dollars until the opec meeting in July.
Dinkshooter
Well-known member
I wish I was not a bitter resentful person by nature...............but I am.
2008-2009 when my meager 401k halved.....not my fault
2016-Louis Bacon sticking it to potential sheep hunters of Colorado............. it would be interesting to see how many BHS he has killed. Such a conservationist.....not my fault.
I said no more 401k for me based on that bastard in 2016 and went automatic savings account deposit on paychecks vs 401K. Sure, I lost out on employer match a bit, but a man HAS to have principles.
December 2019, the wife bought a business with a self directed IRA. It's hers to win or lose and screw all the Wall Street Dickheads\ and whims. We're out.
YMMV.
2008-2009 when my meager 401k halved.....not my fault
2016-Louis Bacon sticking it to potential sheep hunters of Colorado............. it would be interesting to see how many BHS he has killed. Such a conservationist.....not my fault.
I said no more 401k for me based on that bastard in 2016 and went automatic savings account deposit on paychecks vs 401K. Sure, I lost out on employer match a bit, but a man HAS to have principles.
December 2019, the wife bought a business with a self directed IRA. It's hers to win or lose and screw all the Wall Street Dickheads\ and whims. We're out.
YMMV.
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Elkmagnet
Well-known member
There's a pile of empty 401k's for every wallstreet millionaire.
This is what I've been doing - put a bit in every time we get a 4-5% drop. The time horizon for when I will need this money is pretty far out so I'm going to take advantage of the dips when I can. A friend of mine from school is a finance wizard and was big on the idea of just buying an S&P 500 index fund regularly if you didn't want to get really deep into investing strategy.
Just to show the volatility that we are facing.
https://apple.news/AZRqIX4EtToSsOnTDSeKybg
https://apple.news/AZRqIX4EtToSsOnTDSeKybg
