I spent the last half of February renegotiating my contract position at a large, fairly secure government agency. Backup plan was to get in the pipeline for an airline pilot job. That’s been all the rage over the past few years because they’ve been taking everyone, promotions have been quick, and pay for captains tops out at over $300k/year. I would’ve needed to add some specific flight hours but it only would’ve taken a few months and it wouldn’t have cost me anything out of pocket. I got obstinate over a few thousand in salary thinking I had that backup plan. I’m extremely thankful they gave in.
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Hopefully you have an option in your plan to go money market and you’ve found it. That sounds like what you want.
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Buy opportunity of a lifetime may be coming up
Holy shit VIX 51
VTI (Total Market Fund) trading at -7% in premarket!
In before Dems gleefully pass even larger oil and gas subsidies than we already have.
https://mobile.twitter.com/realdonaldtrump/status/1227224631754489857
Gotta give him credit here, he nailed the peak
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Jfc the oil stocks. Down 30-40% across the board in the premarket.
That was 13 years ago, I didn’t know anything about the stock market back then.
This feels a lot like 2008 in terms of how quickly huge shit is happening and how much people are panicking.
To me the biggest risk this time is highly levered firms being unable to roll over debt. There is a huge flight to safety and with recession fears lenders are going to look to de-risk. Substantially every PE-backed private company has debt of 7-8x EBITDA and therefore has no margin for error.
Big difference between now and then is that the Fed can do whatever they want without congressional approval. Like they could just TARP it up and not even ask for permission as far as I can tell.
Me, a normal person: man, they can’t just bail out all the bad guys again, that would be a terrible look.
Fed: hold my beer?
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I haven’t watched CNBC in a while, but morning guys seem pretty SHOOK right now. I said earlier this wasn’t feeling like 2008. It’s creeping a little bit in that direction.
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They’ll definitely learn their lesson this time though. Especially when they face zero repercussions and in fact benefit personally from the mess they create.
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Right, so for the case you’re talking about, that’s already priced in. If I sell my stocks at close today that’s all baked into the price I will get. Jumping in and out of the market is just a game I choose not to play. And once you make that decision, then there is no choice at all and that is very liberating. This dip, including the 7% premarket this morning, hasn’t bothered me one bit.
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Baghdad Bob’s time to shine
Did a stop loss hit?
Driving in to work this morning I couldn’t shake the feeling that it seems completely ridiculous to be going about my life business as usual, like nothing major is happening.
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LOL Jim Cramer on CNBC saying he wants to hear reassuring words from MNUCHIN.
I don’t think this 15-minute circuit breaker is calming anyone down.
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Im sure Munchkin has this under control.
I told my 7th grader to say goodbye to her 529 account. 