SKEERED



  • U.S. stock markets were down sharply last week due to fears of the Corona virus & what it might do to world economies. Per this report this morning, I'm starting to think the pessimists may have it right?

    "But the toll keeps mounting at an ever-increasing pace, with health authorities on Saturday saying 46 more people had died in the preceding 24 hours, all but one in Hubei Province, China.
    Another 2,102 new infections were also confirmed, bringing the total to nearly 12,000 -- far higher than the Severe Acute Respiratory Syndrome outbreak of 2002-03.
    SARS, which is caused by a pathogen similar to the new coronavirus and also originated in China, killed 774 people worldwide -- most of them in mainland China and Hong Kong.
    The World Health Organization (WHO) declared the outbreak a global emergency on Thursday but later warned that closing borders was probably ineffective in halting transmission and could accelerate the virus's spread."
    https://news.yahoo.com/chinas-isolation-grows-virus-toll-reaches-259-035414994.html





  • Long term investment: undeveloped real estate. Preferably in low property tax bracket. Then think decades... 🥃



  • Well my Sprint nearly doubled today so I sold.

    The people that shorted Tesla aren't licking their wounds. They are dealing with the stumps of amputated limbs. Bulls make money. Bears make money. Pigs get slaughtered.



  • @Toker-V Yeah? I have some long held S that I maybe should exit. Thx.

    Edit: Ah, I see, merger w/T actually approved. Mind numbing.



  • Hell of a morning to sleep in. I'm down 6 figures but not selling (well actually just sold some bonds that gave me 17% in 11 months) but I'm waiting for the verdict on coronavirus before looking for bargains.



  • I follow @DrDenaGrayson on Twitter: https://twitter.com/DrDenaGrayson
    She worked on developing treatment for Ebola, and has been warning of pandemic since the outbreak began. If you want a crash course about the topic, she may be a good resource for you.

    With factories being closed in China, and as it spreads, it could get.....bad, economically speaking. But what the hell - playing the stock market is game for big boys and girls, right? Too bad it affects everyone else whether they consume the delicious poison or not.

    My jewelry sales seem to have tanked since about November, in this fantastic economy. Me - I need a set of tires, pronto. I thought the tires I had (bought 2018 in late summer/autumn) would get me through this trip and back to NY, but such is not the case. Stock market is so far out of my current realm I can't imagine being in a skeered position over it, but from my own viewpoint, I think people should be skeered. Be very, very skeered.....



  • As always, we are living in "interesting times."

    The S&P 500′s two-day loss of 6.3% was the largest since August 2015, when the Chinese government devalued their currency.

    I didn't sell, but I did listen to some market pundits on the radio this afternoon. They ain't buying either, & the old analogy of buying into a plummeting stock market, is like trying to catch a falling knife, was of course mentioned.

    When do the stock markets bottom?

    They always bottom, but that is the very tricky part about "market-timing."



  • S closed at $9.64. 💹 Still holding. If for no other reason than amusement value.



  • (Edited)

    An..interesting....graphic graph comparing Coronavirus numbers to SARS, Ebola, and others day by day since outbreak. Keep in mind Coronavirus can have several weeks from infection to symptoms.....
    https://twitter.com/WelshGasDoc/status/1232208118899257344



  • The sell-off continues, perhaps reaching a panic not seen since 2008, by tomorrow. From Reuters: "The S&P 500 finished 12% below its Feb. 19 record close, marking its fastest correction ever in just six trading days."

    Interestingly, one of the few stocks in the S&P 500 that was up today, is 3M, since a market analyst upgraded them because they make respirator masks. However, the stock has otherwise not done well, since hitting a peak in Jan. 2018. I confess to having owned some shares of it for the last 20 or so years. Long term, it has been a great stock to own, but if I was paying more attention, I should have dumped it. Another reason for me to have most of my money in mutual funds, where more focused managers change out of stocks, like I change out of socks & underwear, often.



  • @FritzRay Meh... if the management fees from all that extra churn don't eat up all the gains.

    It's all rigged anyhow.

    Stacked deck.

    Cold fact.

    Still, one can make a dime or three if they know how to play the game, are lucky and willing to risk an ulcer.

    Party on, Wayne! 🥃



  • @toby said in SKEERED:

    Party on, Wayne!

    Party on, Garth.

    And buy real estate -- they aren't making any more of it.



  • Yes, but talk to me after this has settled out. I've tried real estate, rentals, the stock market, & low-cost mutual funds. I'm still pretty-happy with the low-cost mutual funds.

    If you remember the depression-era saying: "I've got more time than money".

    A couple years back, I realized: I had "more money than time," unless there is an economic meltdown worse than the "Great Depression."

    You never know, but then, with 5 acres of mostly irrigated & rocky land, I'll go to eating our locally abundant rockchucks, trout, & asparagus.
    garlic asparagus 5-12-14.JPG



  • @FritzRay said in SKEERED:

    You never know, but then I'll go to eating our locally abundant rockchucks, trout, & asparagus

    And I'll club deer in the yard as they try to get into the deer-proofed garden, and eat them with the produce of that garden.

    Interesting times.



  • I guess the ride is getting bumpy today.....

    Was yesterday the day to cut and run, or are people going to panic now in case they don't close the markets on Monday(someone suggested this may need be done to prevent all-out collapse).

    Seems to me an honorable Captain(of Industry's Fortune) ought to go down with the ship. Of course, that's not the way the ship sails; the wealth must be protected.....after the steerage class passengers have been thrown overboard, of course.



  • I like real estate. So does the only guy that I know who was on the Forbes 400 list. I hate rental properties though.

    Some of my associates did $100 million in drugs sales in the seventies. I think the markup was very high 🙂

    Most got arrested and did some time. I've often wondered where all the money went.



  • The only saving grace in my portfolio this week, are my conservative Vanguard bond funds. It is a little strange, since the % gain of government bonds has plunged. But that means investors fleeing the stock market, drive up the price of bonds. Good for me now, but lower income in the long-run.

    However, it beats CD or money market investments.



  • My 401K from the Forbes guy's company is in Vanguard.



  • @Toker-V - You said you were down an amount, on the first day, that was a pretty hefty number. Have you made any changes, gone on a shopping spree, or feeling a little green around the gills and don't think it's Corona virus?


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