Do not sell! It will come back. "The time to buy is when there is blood in the streets"
Posted on 02/27/2020 2:25:45 PM PST by fightin kentuckian
Like many Freepers I have a significant IRA account in the stock market. The last couple of weeks have been absolutely brutal and I've watched my IRA shrink by.... A LOT. I'm dying to hit a liberal so damn hard right now. This is frustrating as all get out.
I'm torn, part of me says "ride it out, the market will come back, be cool. It'll turn around in a day or two" and another part of me thinks that this corona scare downturn isn't near bottom.
How are you Freeper, in the stock market, handling this? AND for you Freepers who keep your money in your mattress, thank you but keep your comments to yourself. I'm looking for constructive comments here.
Do not sell! It will come back. "The time to buy is when there is blood in the streets"
#1 What is your long term goal,retired,nearing way off??
#2 Are you properly diversified for what ever that is ?
#3 If #2 is in place you/will do OK after Corno goes bye bye
#4 If not dont panic seek professional financial advise and not from Freerepublic.
Try Vanguard or Fidelity
You won’t get any ‘happy-talk’ from me. Let me know if you still want my opinion.
I wish I could afford, “penny interns” It does sound like fun.
It’ll go back up. It has to.
Watch reruns of Andy Griffith show.
“ 105.28 per share. A year ago.
CFR”
The banking industry has suffered from low interest rates more than a virus.
VWELX has been there done that,you are fine
Hanging in there!
It can only go down so far... Negative numbers are not possible.
Or interns named Penny. Although these days it would be Penni.
Went all cash at end of Jan with the first market hit from the Chinese lockdown. Then sat back and watched the market start going up again. Now watching it go down again. I have no prediction ability, just a lot of caution.
How much is it up since Trump took office? I would be a slow, persistent buyer right now, especially since Trump should win reelection.
Agree....well, maybe give it just a little bit more time :-)
If you sell in a downturn there’s as much likelihood of merely cementing what would have been a paper loss, as there is of coming out ahead by avoiding future loss. You’ll be guaranteeing that you’ve lost that money, in other words. Surely your 401K plan offers options that are better suited for such an environment, maybe a precious metals fund or a bond fund? Shift some into those temporarily to scrub off some risk, watch the market like a hawk and get back in at the first sign of a bottom.
Moved to bonds for short term protection. When things settle and start back up, back in.
I doubt China hates our economy more than they love theirs. All we have to do is get manufacturing going on our side of the Pacific. They have to have reasonable expectations of not unleashing a massively destructive plague on their population and, more importantly (to them), convincing the rest of the world that it’s safe to do business there again.
No, I don’t see China destroying their economy in the hope of nicking ours.
“The market is the ONLY place people run out of the store when they’re having a sale!”
I have been in the stock business for most of my adult life, both as a broker and a manager, now retired, and I thought I heard every pithy line about the market, but this is one I’ve never heard, and it perfectly describes the herd instinct.
As soon as I read it, I burst out laughing, and my dear wife asked what was so funny. I read to her what you wrote, and she burst out laughing also.
Thank you, and trust me, I’ll be using that line a lot in the near future.
A good rule is your age as a percent of portfolio in bonds.
Look at the performance of EFT TLT (long treasuries) vs SPY (s&p) over the last few weeks.
TLT is a great hedge against this sort of thing.
Because I am in Canada, i have some in Canadian bond and stock ETFs as well as US. Canadian bonds were doing well, but they are starting to sag now as well, as is the $CDN.
In the extreme, the flight to safety is US dollars and US treasuries.
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