I upped my 401k contribution and increased my brokerage savings at the expense of my cash savings
.
- Thread starter SoapyCy
- Start date
L
LincolnWay187
Guest
Pretty sure Gunner was being sarcastic. There have been multiple threads about having to pay cash for cars and then that got extrapolated out into mortgages.
Why you do it at 20,250. It never quite gets to that nice round number, and if it does, you aren't very far off it.
No I agree. The market likes to target those round numbers but lots of people do the same so it usually never reaches.
Not yet. You need to look at balance sheets because the overleveraged will not survive. One you might look at is EPD, one of the best midstream operators but they do have a good amount of debt.
I get a bit worrisome when people I know talk about stocks. Please don't get me wrong, I am not saying some of you don't know what you are doing, but I fear that some may make dumb decisions.
Story time:
I have a friend who has founded a few large companies and is very connected in silicon valley. In the 90's, he knew the dot-com bubble was going to burst and he wanted to capitalize on it. He found a company he believed was VASTLY inflated by the bubble and decided 'I'm going to short $1 million in this stock" and he picked a few others as well (shorting smaller amounts). The other companies did tank; the company he shorted $1 million was Amazon. He owed more than 5 million dollars when it was all over. Even a highly-connected, super smart dude lost millions.
So, please please please understand one thing about the stock market: only put in what you can afford to lose.
Everything else like "Diversify your portfolio" and other catchphrases are dumb. Diversifying your portfolio for only the sake of diversifying is idiotic; that phrase means pick stocks you think will hit big, but don't put all your eggs in one basket. It doesn't mean get some energy, some AG, some tech, some financial. NO, that's what brokers and financial advisors tell you so they can sell you their GARBAGE. and I mean GARBAGE. Even when you're losing money, they're making money.
I kinda rambled there, but what I'm trying to say is DON'T BE A "KNOW IT ALL". I definitely don't know it all, if I know anything at all.
I wish everyone the best of luck.
And I put a bunch in BP yesterday. Lowest it's been since 1995? Sign me up.
Story time:
I have a friend who has founded a few large companies and is very connected in silicon valley. In the 90's, he knew the dot-com bubble was going to burst and he wanted to capitalize on it. He found a company he believed was VASTLY inflated by the bubble and decided 'I'm going to short $1 million in this stock" and he picked a few others as well (shorting smaller amounts). The other companies did tank; the company he shorted $1 million was Amazon. He owed more than 5 million dollars when it was all over. Even a highly-connected, super smart dude lost millions.
So, please please please understand one thing about the stock market: only put in what you can afford to lose.
Everything else like "Diversify your portfolio" and other catchphrases are dumb. Diversifying your portfolio for only the sake of diversifying is idiotic; that phrase means pick stocks you think will hit big, but don't put all your eggs in one basket. It doesn't mean get some energy, some AG, some tech, some financial. NO, that's what brokers and financial advisors tell you so they can sell you their GARBAGE. and I mean GARBAGE. Even when you're losing money, they're making money.
I kinda rambled there, but what I'm trying to say is DON'T BE A "KNOW IT ALL". I definitely don't know it all, if I know anything at all.
I wish everyone the best of luck.
And I put a bunch in BP yesterday. Lowest it's been since 1995? Sign me up.
So we should look at BP or listen to the first part where you say not to listen to people?
I am putting some more in my preferred small cap value fund today. Russell is still falling today, down 20% from peak as of yesterday. Not really trying to time the bottom exactly, just feel like it has gone down a ton and it's a decent spot to buy back. Plus this part of my portfolio is a little underweight from where I want it, and it will be 5-10 years before I need this money anyway.
I feel like I am a good long term investor (diversified, patient, etc), but once I hit like 55, I am gonna have to figure out a whole new process lol.
I feel like I am a good long term investor (diversified, patient, etc), but once I hit like 55, I am gonna have to figure out a whole new process lol.
I worry about these stocks rebounding due to ESG investing being on the rise.. I'm avoiding energy companies until I read up more on it. Also it is one of the most highly leveraged industries. Not the greatest time to take on that much leverage and record low forecasted pricing and lowering demand
Yes….as a normal practice but down markets are a unique time that might suggest you may want to be more aggressive in your investing than your usual dollar cost average routine.
My parents are very near retirement age and they re-arranged nearly everything a couple of years ago, getting much more conservative. While this stuff sucks for me, I'm hoping my parents can ride this out, get some of their money back in after things have bottomed out, and enjoy what they have afterward.
They got lucky due to their situation, if they were a few years younger things would be much different for them, to the point where they might have had to continue working for years longer than they planned. I feel for people in that position.
This is what I try to get through to people when I get pushback about “timing the market”.
Agreed. Yeah….staying in the market but also at the same time buying more when it dips is hardly what most experts warn about when they caution against trying to “time the market”.
I haven’t read the entire thread. Are people really suggesting otherwise???
There are a lot of rich people who don't know squat. It is really easy to be right about something and still not get a great win by not being in the right instrument. The rich dude would have done just fine shorting 3 or 4 companies that went bust even with the Amazon failure, just had to cut the loser off sooner and ride the winners.
Dividends also disappear rather quickly so you have to be careful with those. An example already...ouch.
https://www.zerohedge.com/markets/it-begins-occidental-first-us-energy-major-slash-dividend-capex
dont disagree there
if this is just the start, though, you should at least start to do it. when you think we've hit the floor go balls in man
