Monday Stock Market - Ouch! - Page 2

flatbutt · 09-20-2021, 03:01 PM

Up and down is the way of the market. I bought in when the DJI was around 10,000. I dumped a bunch more in when it was around 20,000.

drcoastline · 09-20-2021, 03:18 PM

Evergrande default I think is largely the cause of today?

cantdrv55 · 09-20-2021, 04:18 PM

Quote:

Originally Posted by masraum

Outstanding and congrats!

Thank you!

Chocaholic · 09-20-2021, 04:26 PM

Quote:

Originally Posted by cantdrv55

Thank you but it’s scary though. Should be able to weather the bad market with what I’ve got in place.

Ok…with a statement like that, I have to ask…how did you know when you had enough? Now if you have a fat pension and a wife who will work for another decade, no fair!

cantdrv55 · 09-20-2021, 04:35 PM

Quote:

Originally Posted by Chocaholic

Ok…with a statement like that, I have to ask…how did you know when you had enough? Now if you have a fat pension and a wife who will work for another decade, no fair!

I’ve added up my annual expenses plus cost of medical insurance out of pocket (over budgeted $21k/yr just in case) plus annual vacation expenses of $7500 plus charitable contributions. Then I multiplied the sum by 33 which is more than the 25 that the 4% rule by the Trinity Study suggests. That’s what we have in savings, investments and pension. The key is keeping annual expenses as low as possible without sacrificing quality of life in retirement. We’ll still be in FatFIRE though.

greglepore · 09-20-2021, 05:16 PM

Quote:

Originally Posted by drcoastline

Evergrande default I think is largely the cause of today?

Yes, and Wed-fri is a buy opportunity. Don't panic.

drcoastline · 09-20-2021, 05:29 PM

Quote:

Originally Posted by greglepore

Yes, and Wed-fri is a buy opportunity. Don't panic.

wildthing · 09-20-2021, 06:07 PM

I bought one stock today.

I don't care what the market does in a given day. I only care that it goes up in 20 years.

When I'm closer to retirement I will have cash that I will need for the next 5 years. Everything else is in stock.

McLovin · 09-20-2021, 09:53 PM

It’s going to be an ugly September and October.

tabs · 09-20-2021, 11:39 PM

Quote:

Originally Posted by drcoastline

Evergrande default I think is largely the cause of today?

You think?

The mood in Equities is uncertainity.about just how bad Evergrande can get..will the contagion spread causing the house of cards to collapse. IS THIS THE BIG ONE? A CRISIS? The big Boyz have been moving with stealth last week.

The question is ..What will the Chinese govt do to put the lid on this?

So far the sheep have been complacently grazing as the waters still appear to be calm. I figure if China cant paper over the cracks..the dam will be collapsing in about 3 months or so..that is when it will hit the USA

On Saturday I was going to write WE ARE IN CRISIS! But there is still somedoubt in my mind...so I didnt? It is time to watch and see. The Red Storm warning flag has gone up.

So far what is happening is over the horizon in a foreign land where it is difficult to gauge the severity of what is going on, on the ground.

tabs · 09-20-2021, 11:52 PM

The postings so far indicate to me that you Boyz are clueless sheep. Sheep get sheared.

drcoastline · 03:57 AM

Quote:

Originally Posted by tabs

The postings so far indicate to me that you Boyz are clueless sheep. Sheep get sheared.

Being sheered isn't being dead. Pigs get fed hogs get slaughtered. Don't be a hog.

This is interesting. Mitch McConnell says the GOP will vote for the US to default on its debt
https://www.msn.com/en-us/news/politics/mitch-mcconnell-says-the-gop-will-vote-for-the-us-to-default-on-its-debt/ar-AAOE7RD?ocid=msedgntp

and this

Xi moving China to economic system 'that doesn't exist anywhere in the world'
https://www.msn.com/en-us/news/world/xi-moving-china-to-economic-system-that-doesn-t-exist-anywhere-in-the-world/ar-AAODV65?ocid=msedgntp

KFC911 · 09-21-2021, 03:56 AM

Quote:

Originally Posted by cantdrv55

Same here. I just submitted my retirement notice in writing this morning!

.... signed,

Johnny Paycheck

Congrats!

KFC911 · 09-21-2021, 04:05 AM

Quote:

Originally Posted by wildthing

I bought one stock today.

I don't care what the market does in a given day. I only care that it goes up in 20 years.

When I'm closer to retirement I will have cash that I will need for the next 5 years. Everything else is in stock.

I've been "in retirement" since I Johnny Paychecked my corporate gig 13 years ago... I was 100% in equities (the liquid portion) back then .... losing 40% "again" then was NOT fun, knowing I was leaving behind my major income stream. I endured the huge corrections 4-5 times over decades... then recovered nicely. But no mas .... time ain't always on yer side ...

Just ask Mick

.

zakthor · zakthor's Garage

Neat graph of concentration in tech. Surprised when I saw it, doesn’t seem healthy.

Makes me want to hold the sp495, or 480.

KFC911 · 09-21-2021, 07:55 AM

^^^^ The FAANG evaluations are totally realistic imo

...

Until they are not

.

tabs · 09-21-2021, 07:57 AM

Reverse Repo 1.2T a day..

The chinese are selling USD to buy Yuan to prop up.a shaky RE mkt.

Tishabet · 09-21-2021, 10:54 AM

As of this AM my portfolio is down 3% over trailing 14d.

I moved about half of my investments out of the market and onto safer ground at the end of June, partially because I foresee correction but also because majority of my regular job earnings comes in the form of FAANG stock grants so (as illustrated in the post by zakthor) I'm very exposed to the forces of the market there as well.

Tidybuoy · 09-21-2021, 11:06 AM

I'm down $10k from a week ago.

My biggest problem is that I did an in-service distribution from my Roth 401k to my Roth Ira and Principal Financial sent it to the wrong account. This had to be reversed and redone and it's now been 3 weeks since my initial transfer and it still has not posted. I should be buying with that money but I don't yet have access.