Author Topic: Stocks Taking a Hit (Read 1357 times)

Ben · « **on:** October 01, 2021, 08:50:19 AM »

The stock market has yesterday (and likely today) taken its biggest hit since the covid started. Interestingly, my Ameritrade portfolio of individual stocks actually went up a little bit. My Vanguard index funds of course went down with the overall market. I think I might throw some cash into them today.

MillCreek · « **Reply #1 on:** October 01, 2021, 09:07:18 AM »

Last month, when the market took a dump, I made my annual $ 7K IRA deposit into VBIAX when it was at a relative low point.

K Frame · « **Reply #2 on:** October 01, 2021, 09:13:50 AM »

I'm sticking with my regular program buys.

grampster · « **Reply #3 on:** October 01, 2021, 09:16:30 AM »

The Market is an artificial construct created by politicians their billionaire oligarch campaign contributors and the Fed. It's about money and power.

The proof of that is the near non existence of interest rates in safe places like savings, cash accounts and CDs.

Consider this: If the Fed allowed interest rates to rise slowly up to about 4% over the next 6 months, the stock market would crash because millions of people who attempt to save some $$$ would get out of the market and into safer forms of investing money.

K Frame · « **Reply #4 on:** October 01, 2021, 09:27:34 AM »

Wow. Just.... wow.

You forgot the Illuminati and the Buildabergers....

brimic · « **Reply #5 on:** October 01, 2021, 10:01:17 AM »

Quote from: grampster on October 01, 2021, 09:16:30 AM

The Market is an artificial construct created by politicians their billionaire oligarch campaign contributors and the Fed. It's about money and power.

The proof of that is the near non existence of interest rates in safe places like savings, cash accounts and CDs.

Consider this: If the Fed allowed interest rates to rise slowly up to about 4% over the next 6 months, the stock market would crash because millions of people who attempt to save some $$$ would get out of the market and into safer forms of investing money.

There is nothing the Fed can do to prevent the system from self-destructing, they can only prolong it. Fiat currencies are fatally flawed and always have a point where they are no longer viable.

charby · « **Reply #6 on:** October 01, 2021, 10:30:17 AM »

Quote from: K Frame on October 01, 2021, 09:13:50 AM

I'm sticking with my regular program buys.

#metoo
20% of pay every 2 weeks

Kingcreek · « **Reply #7 on:** October 01, 2021, 10:44:54 AM »

I received my e-docs for my RMD yesterday. I’m dragging my feet and not going to draw anything out until I see the inevitable market rebound.

Brad Johnson · « **Reply #8 on:** October 01, 2021, 02:30:11 PM »

This thread made me curious. I looked at my Vanguard accounts and noticed something interesting. There's a consistent period of downs centered on the 20th of each month. +/- 1 day. Not huge downs, but still low relative to remaining days. For the last year it's regular enough across all three accounts that I' seriously considering using it as my default "buy day". I'll do more research this weekend.

Brad

French G. · « **Reply #9 on:** October 01, 2021, 02:50:38 PM »

Between Evergrande and people eventually realizing that baskin Robbins 46th flavor is a disaster I predict rough market times ahead. I got ammo, puzzling on lamp oil and whatever else I need as we return to the Stone Age.

Ben · « **Reply #10 on:** October 01, 2021, 05:18:04 PM »

Nuts. I was away from the computer most of the days and the market seems to already have made up the loss. Oh well.

As an unemployed bum, I no longer do the 15% out of every paycheck to my TSP. Nor do I contribute money in the bank to stocks at set intervals. I'm closer to "use it" mode than "grow it" mode. I only will add money anymore during significant market drops, like at the beginning of covid.

JTHunter · « **Reply #11 on:** October 01, 2021, 10:33:32 PM »

Comments made by Janet Yellen the other day didn't help matters either.

French G. · « **Reply #12 on:** October 01, 2021, 11:45:35 PM »

I don't have much of a 401 having just started over last year. Been thinking on it all week, been semi defensive all year but now just moved everything out of stocks. Will wait, re-buy my dividend fund and max out contributions when it crashes this winter.

K Frame · « **Reply #13 on:** October 05, 2021, 01:11:56 PM »

Revisiting this...

Dow is up 400 today, recovering yesterday's losses... and my two primary tech holdings are getting absolutely sodomized...

Ben · « **Reply #14 on:** October 05, 2021, 01:14:34 PM »

They've been talking about tech continuing to take big hits through 2022. The only tech I own is in whatever Vanguard puts in my index funds, but whatever percent that is will surely drag those funds down.

charby · « **Reply #15 on:** October 05, 2021, 03:55:55 PM »

Quote from: French G. on October 01, 2021, 11:45:35 PM

I don't have much of a 401 having just started over last year. Been thinking on it all week, been semi defensive all year but now just moved everything out of stocks. Will wait, re-buy my dividend fund and max out contributions when it crashes this winter.

Market timing doesn't always work, when saving for retirement it's best just to make regular payments into a a diverse portfolio and do minor adjustments. I've been doing that at a min of 15% of annual salary for the past 22 years and I have amassed quite sizable amount. I was self managing it until I hit $150k or so, now I have 2 financial advisors that do that for me and they are doing a better job overall than I could. I've managed to weather everything since 2000, I tried to market time when I was self managed and I ended up leaving some gains on the table, fortunately I didn't get to much of a loss on speculation of different stocks. I'm 14-15 years away from retirement, I'll probably go very conservative with my investments in 10 years or so as I get closer to that retirement age.

MillCreek · « **Reply #16 on:** October 05, 2021, 04:21:27 PM »

I am probably two years or less from retirement, and I am currently in 54% stocks and 46% fixed income and cash. I anticipate staying approximately 60/40 through retirement.

JTHunter · « **Reply #17 on:** October 05, 2021, 04:35:44 PM »

Quote from: K Frame on October 05, 2021, 01:11:56 PM

Revisiting this...

Dow is up 400 today, recovering yesterday's losses... and my two primary tech holdings are getting absolutely sodomized...

As of 3:30 CT, Dow Jones was only up 311 pts.

K Frame · « **Reply #18 on:** October 06, 2021, 07:14:40 AM »

"Market timing doesn't ~~always~~ work"

Fixed that for you.

The only market timing that works long term is a continuous plan of regular investments and not turning into a mouth breathing panic monkey when the market does a downturn.

People on the intardnets who tell you that they can let you know their secret for making millions by timing them market for the low, low prices of $XX are lying.

Back in 2007 or so when the *expletive deleted*it hit the fan we had a couple of people here bail out of the markets, locking in their losses. Then they never re-entered the market. But did come back to whine about how much money they lost out on when the markets rebounded.

At the same time I watch my accounts lose between 75-80% of their overall value. It was rough to watch, but I doubled down, upped my contributions as much as I could, and quit obsessing over the numbers.

I'll retire in a few years as a multimillionaire.

cordex · « **Reply #19 on:** October 06, 2021, 07:17:06 AM »

Quote from: K Frame on October 06, 2021, 07:14:40 AM

I'll retire in a few years as a multimillionaire.

Hopefully that buys more than a loaf of bread in a few years.

charby · « **Reply #20 on:** October 06, 2021, 02:09:34 PM »

Quote from: K Frame on October 06, 2021, 07:14:40 AM

"Market timing doesn't ~~always~~ work"

Fixed that for you.

The only market timing that works long term is a continuous plan of regular investments and not turning into a mouth breathing panic monkey when the market does a downturn.

People on the intardnets who tell you that they can let you know their secret for making millions by timing them market for the low, low prices of $XX are lying.

Back in 2007 or so when the *expletive deleted*it hit the fan we had a couple of people here bail out of the markets, locking in their losses. Then they never re-entered the market. But did come back to whine about how much money they lost out on when the markets rebounded.

At the same time I watch my accounts lose between 75-80% of their overall value. It was rough to watch, but I doubled down, upped my contributions as much as I could, and quit obsessing over the numbers.

I'll retire in a few years as a multimillionaire.

If I wrote that exactly, someone would try to pick a argument with me on here. I think they are all scared of you.

I should be a paper millionaire in 8-10 years. Hell, if I retire at 63 and I live to 85 my pension will have paid out close a million to me.

ConstitutionCowboy · « **Reply #21 on:** October 06, 2021, 06:30:03 PM »

I'm stickin' with my buy plan as well. I like the secure stuff. You know; guns, ammo, reloading supplies, toilet paper ...

Woody

K Frame · « **Reply #22 on:** October 07, 2021, 07:30:41 AM »

"If I wrote that exactly, someone would try to pick a argument with me on here. I think they are all scared of you. "

They've obviously never seen a picture of you. Hell, even I'm scared of you...

"Hell, if I retire at 63 and I live to 85 my pension will have paid out close a million to me. "

Iowa public employee pension? Nice. I'd like to have had a job with a pension on top of my 401k, but outside of public sector there's very little in the way of pension jobs now.

charby · « **Reply #23 on:** October 07, 2021, 08:52:33 AM »

Quote from: K Frame on October 07, 2021, 07:30:41 AM

"If I wrote that exactly, someone would try to pick a argument with me on here. I think they are all scared of you. "

They've obviously never seen a picture of you. Hell, even I'm scared of you...

"Hell, if I retire at 63 and I live to 85 my pension will have paid out close a million to me. "

Iowa public employee pension? Nice. I'd like to have had a job with a pension on top of my 401k, but outside of public sector there's very little in the way of pension jobs now.

And I pay into it every paycheck. I'd probably have a bigger nest egg investing the money in an IRA but it's nice to know you have a set amount every month in retirement.

MillCreek · « **Reply #24 on:** October 07, 2021, 09:14:14 AM »

Since I have been in healthcare my entire working life, I have never had a pension. My wife does as a school teacher. I bought myself a pension a couple of years ago by buying a single-premium fixed annuity. It started paying me $ 1000/month for life earlier this year. If I die before the annuity premium is paid out, my wife gets the remaining premium as a lump sum. if I were to wait until FRA to start collecting SS, this will give me a fixed income of about $ 4500/month with SS and the annuity, but I doubt I will wait until FRA.

News:

Author Topic: Stocks Taking a Hit (Read 1357 times)