Stock Market Today

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If you calculated the GDP as it had been up until 1994, we have been in a recession for about 15 years with -2.3%-ish GDP growth, this is WITH the fuckery that that's been going on in real estate which is the US Government giving management of public pension funds to Blackrock, Vangaurd, etc, who then use this trillions and trillions of dollars to play with to buy up all real estate and drive a bubble to prop up GDP.
 
We had some of the biggest days in the major indices during the Biden administration and after Biden withdrew: Dow +40,000 and S&P + 5500.

This dip was primarily due to the Fed refusing to cut interest rates. Even a .25% rate reduction likely would have significantly stemmed this dip.

I also concede that international markets contributed as well.

Not here to defend Harris - just to say, markets typically don’t give a damn who is in office. Markets love financial predictability and stability. No President - Biden, Trump, or (potentially) Harris - have control over the Fed Reserve overnight funds transfer rate OR international markets. (Just like no president has a ‘gallon of gas’ dial or a ‘gallon of milk’ dial on the Resolute Desk.)
 
Yeah, I ain't even gonna look. I ain't retiring any time soon so IDGAF.
I'll check in the morning; it's going to be bad I'm sure.

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we can always invade NYC, and get $13,000 per month in food stamps, and $5,000 in cash

 
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My retirement is at a minimum 12 years out so....
I was on track to retire early in 1-2 years; until mid-July when the slide down began. Now it's likely 2-3 years, perhaps 3-4, I'll see in the morning when the dust settles. Still it's not a real loss until you sell.
 
I was on track to retire early in 1-2 years; until mid-July when the slide down began. Now it's likely 2-3 years, perhaps 3-4, I'll see in the morning when the dust settles. Still it's not a real loss until you sell.
Exactly. I get a kick oit pf people saying " I lost 10 grand out of my 401k". Well, are you fixing to retire ? No ? Then you haven't lost shit, yet.
 
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Trying to figure out how hard resource and energy stocks will get hit????
 
I hope I'm wrong but I'd expect it to be rocky for awhile, even if Trump gets elected.

Not sure if today was a correction or an over-reaction. I have a feeling it is a bit of both. Didn't know about the Buffett thing but that is fucked up. Always seems to work out like that for 'those guys' for some reason :lol: :dunno: :(
 
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Well, don't want to loose a big chunk....going to need it in a couple years.
with nearly everything down, you will likely lose money now if you sell. best is to just hold and wait for the market to recover.

Always good to know your cost basis and when you purchased so you can adjust what you paid to today's dollars to determine the paper loss or gain more accurately. Especially before you sell anything.

if you're planning to retire soon, look into "sequence of returns risk" to be sure you understand its' impact. It's one reason why I track my change in market value on many time scales (monthly, quarterly, YoY, yearly, over several years etc.) For example if your change in market value annual average for the last 10 years is $X and %Y, it will tell you how much (on average) you make or grow (or lose) in your account(s) per year.

If you withdraw that full change in market average annual value out each year, it will impact future growth/income because you're reducing reinvestment. The ratio of what you need (for living expenses in retirement, i.e., your withdrawal) vs what you make (in change in market value), is up to you.


All IMO, of course. I'm not a financial advisor; but I learned early on that no one cares more about my wealth than I do, so I learned how to manage it for myself. Doing so enabled me to become an accredited investor in my 30s; but I made plenty of costly errors along the way too.

Good luck to all!

edit: and of course, the tax implications of anything you do!
 
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I hope I'm wrong but I'd expect it to be rocky for awhile, even if Trump gets elected.

Not sure if today was a correction or an over-reaction. I have a feeling it is a bit of both. Didn't know about the Buffett thing but that is fucked up. Always seems to work out like that for 'those guys' for some reason :LOL: :dunno: :(
depends on when Buffet sold, as far as I can see the market started going down since the Monday in mid-July after the weekend that Bozo Biden dropped out and Kameltoe was selected. There was enough toward the end of July (31st IIRC), to keep me from a net loss for the month of July, but the decline really accelerated in August. Buffet got out, but I don't think it was before the decline, maybe before the worst of the accelerated decline?

I think this is a correction for the pandemic fiat money printing and failure of the monetary system (Biden, Congress, Fed Reserve,...) to manage it effectively...they couldn't keep the bubble going any longer; I actually thought this downturn wouldn't start until after the election, especially if Trump was elected. I think that was what the demoncrats planned, but it didn't work...but they'll find someone or something to blame as always, not those who actually caused it.
 
Maybe 1000's of layoffs and billions in stock buybacks over the last 5 years wasn't such a great idea after all. Now corporations are mad they're getting stuck holding the bag a for the most part..
 
What about Buffett and his rich inner circle of friends selling at the peak?
That sure didn’t help. Didn’t he let go of more than 1/2 of Berkshire’s Apple shares?

When players as big as Berkshire Hathaway start moving measurable holdings of entities the size of Apple, it’s gonna make waves. Like rolling over in an OG 80s waterbed - your spouse is gonna wake up.

But I think that points back to the axiom that the major stock indexes - Dow S&P - thrive under predictability. They are reactionary and tend swing wide and fast in response to significant holding shifts like Buffett just made.

I wholly agree with others who have said ‘I ain’t planning on retiring soon, so I’m not going to worry about it’

I will say, yesterday looked disappointing in a vacuum - but even considering that dip, the market has still paid me close to 3x the amount I have contributed this year. I’ve always said if the marked just matched my contributions 1:1 over the long haul, I will be fine.
 
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