One of the first posts in the 2020 stock thread:
The only thing this clown is good at is being a racist ass hat.
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I know Bobman will here to explain how it is all 0% interest rates soon but I have to ask again WTF is happening. By any metric the US economy is in deep trouble with no real chance of a rebound until what late 2021? And yet we have 12 month returns for:
S&P 500: +6.1%
NASDAQ +27.2%
That doesn’t include the AH pump with Donnie’s stellar rose garden performance. I will admit Bobman has been right for the last 4 months so far. But there has to be some limit here right? We have a huge income cliff hitting in 11 days, massive unemployment, what is likely to be record setting bankruptcy filings later this year and Covid going buck wild.
Where is all this optimism coming from? I legit do not get it.
lol, TSLA and CMG. oops.
cnbc futures are 10-15 delayed. Investing.com has current futures prices. Up another 1% across the board.
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AMZN also up 50% YTD.
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STONK STONK
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My cynical analysis is some combination of (a) money machine go brrrr that is specifically targeted at keeping the indexes juiced and (b) the fact that, generally speaking, the Dow, Nasdaq, S&P, whatever tend to represent the biggest most well capitalized players in most industries. If you assume that anyone is going to be able to weather the storm, it is going to be these companies, and, when they do, they’ll be able to gobble up any good assets from the smaller players for pennies on the dollar. In the long run, that should be very good for those companies.
Stonks are not the economy and the biggest firms by market cap are largely unaffected by the virus.
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I’m a fan of the theory that the $billions per year gambled in casinos/sports/ponies plus spent on travel and entertainment had to go somewhere.
Yeah… David Portnoy has an army of idiots YOLOing on stocks with him. Everyone is a genius day trader now.
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No doubt. But Nasdaq being up 30% since July 2019 and over 100% in the last 4 years seems a bit insane to me. The valuations are basically at all time highs compared to actual earnings as well even compared to the .com boom.
Even if Covid hadn’t happened things are off the rails. And covid happened and will likely continue to happen for the foreseeable future.
FXE (1x Euro vs. Dollar) has been pretty good to me since I put over half my portfolio in it. There’s no crazy risks associated with that right? I mean other than Putin invading Germany or something?
I don’t quite get how a USD cash deposit has to be insured by the FDIC. But a fund that basically tracks the Euro vs. the Dollar doesn’t.
I may start dabbling in leveraged Euro vs. Dollar stuff.
Fidelity told me I can’t buy any more of their funds until September due to “4 or more round trips”. Of course they wouldn’t tell me at the time how many it takes to trigger their switch. I sold exactly 4. I’m sure this is stopping tons of fraud. GJGE guys.
I assume I can sell the 4 remaining international funds I have. But I think I’ll just hold on to those. Even if the US market crashes and drags everyone else with it, maybe they won’t crash as bad and they’ll bounce back quicker.
Since I already have some index fund saving plans how would I start looking for the next 1998 amazon stock? I know my dad is already in some hydrogen pennystocks because he believes that his could be one of the next things that really gets off. I am not really looking for stock advice but just a general outline what I should investigate first?
Futures spiking on the rumour from BBC that Oxford vaccine phase one trials going to have good results … market really seems to be reaching on vaccine news now.
Edit: reading that if the larger trial is successful they can start mass production by September. That does actually seem like particularly good vaccine news.
I’m shifting about $25k from equities to total bond at the close today. Not sure exactly where that puts our total AA because we have many different accounts with several funds in each, but it should put us back below 55% equity. I also forgot that I had changed all new contributions to 100% stocks back in March as the markets were crashing, so I changed new contributions to 100% bonds for now until I work out exactly where our AA stands. I want to head closer to 50% bonds as the market continues to rise.
I really should take the time to set up my spreadsheet to go retrieve to current price by the ticker symbols. Right now I log in to each account and manually transcribe the current value in each fund. I guess I could also sign up to one of those apps that do it for you, but I’m not comfortable sharing the account passwords and I think you have to for those to work.
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2019 was the first time I owed money, wife had her withholding set wrong and when some RSUs vested they barely took any tax out. What a nice surprise that was when we saw our return.
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+1 to this. I’m sure you could figure it out, but it’s trivial and well worth doing. I use Apple Numbers but I’m sure it’s similar in excel.
Yeah I want to move to the Google thing and that shouldn’t be too tough. The only issue is that we are still actively adding to 5 of the accounts (but only 3 bi-weekly) so I would still have to periodically manually update the number of shares in those accounts.