Posted on 03/17/2021 5:18:56 PM PDT by entropy12
Yes, and I did very well. Think about if it had not bounced back as quickly as it did.
All the gains folks celebrate...evaporate. Often times it takes years to get back to even, losing those same years of growth.
I’m afraid of the markets. Too close to retirement. Afraid in that the little guy investor doesn’t stand a chance when large 20%/30% corrections occur due to computerized trading by huge investment firms.
I’ve spent years attempting to understand the ins/outs of investing. The one thing I’ve learned without a single doubt...stock analyst and the talking heads don’t know diddly squat. They have just enough head knowledge to make many believe their market sages. Fact is..they’re just guessing.
We are sooooo long in these markets without a substantial correction pulling out all the bad/puffed up nonsense.
Last March proved to me just how quickly you can lose 40% of the value of your portfolio. I choose a tad lower returns for safety.
The connected billionaires will be sipping alcoholic drinks all day. The rest of us will be violently stabbing each other with sharp sticks over the last piece of rat meat. When there are less than five hundred million of us left, Utopia will arrive... /s
I am not putting ANY NEW MONEY in markets right now. That time was March-April 2020.
Right now I am liquidating longs bought last March-April, after holding period of 1 year for long term cap gain tax rate.
My view of the future is more up-beat. Robots will perform all the menial and mundane jobs, humans will have abundant free time on hand, and everyone will receive a check in the mail so no need to find menial jobs. And everyone will be driving EV’s, internal combustion engines will only exist in museums and airplanes.
A just machine to make big decisions
Programmed by fellas with compassion and vision
I hope you're right. However, a lot of people are not invested in the stock market or in real estate. And many who are, will need to divest because of debts. The Fed already owns most of the defaulted mortgages in the nation, having purchased them from banks so banks don't fail. They're at a tipping point, because when inflation hits, then people will need to spend money on food and goods and will default on massive loans. Real estate is in a massive bubble, and prices exceed what people can bear. When it collapses, so will the stock market. We're in for a massive depression ahead. Back in 2008 I had relatives lose their homes because they were over-leveraged in mortgage loans. In my area, adult kids can't afford the homes for sale. Those who do buy, are over-leveraged.
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