DJIA now below the level it was after the 150 point drop after the trading halt.
Almost 2100 points, >8%.
If the dow closes 200 points lower, that’ll be a bear market. 40 points lower for an S&P 500 bear market and 2 bucks lower for VTI.
pfffff, circuit breakers are for pussies. Should just let it be thunderdome.
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Even the stuff that goes up when the other stuff goes down is down today.
My stock sales went through this morning. I did an impressive job of nailing close to the bottom on all of them.
Apparently I can still cancel my fund sales. Tempting.
Ok I canceled them. Put all your money against the market tomorrow.
This isnt over. We will see a bounce tomorrow, and then right back down the chute. I called 20K by the end of March kinda jokingly, but its not out of the realm of possibility now.
Yeah I’m just gonna hold the funds. It’s about half my money so it won’t kill me with stress if it drops another 50%. I just couldn’t sit there and watch the whole thing go down 50%.
If it super tanks I’ll buy back in at some point. If it goes back up at least I didn’t completely miss out.
I put in an order last night to move all of our retirement funds in to short term bonds.
Hopefully it goes through sometime today. I’m not one to time the market but I think the market is going straight down for a little while. I’ll move things back in to equities once it looks like things are stabilizing a bit. I’m not worried about perfect timing, I just don’t want to lose 50% of our investments if things turn out really bad.
On the upside, my wife works for the state so there’s some pension involved in our retirement.
Buying Berkshire B. It’s at about 1.2x book value and exceptionally well positioned to benefit from the carnage with infinity cash.
Yeah that’s kind of where I was at. I really shouldn’t have been in all stocks anyway since I had enough money for my semi-retirement plans (travel, camp out a lot, make a little money here and there). That’s my biggest fear. I don’t want those to be dashed.
Although at the same time I’ve finally come to accept I may have to put them off for a year or more until this thing blows over. Traveling anywhere is going to get really dicey.
Shorting Berkshire B for obvious reasons :p
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We’re in our mid 40s so have another 20 years or so to be slaves to the man. We were in all stocks because I dealt poker in a shitty places for a long time and we were just barely scraping by for a long time and I was trying to aggressively make up for lost time…
How does 22% sound?
Were you investing back in '87?
Imagine 3x the losses today. Now that would get Trump impeached!
Or Exxon. Under book value and pays 7% dividend.
Carnival has great book value and pays a whopping 9.2% dividend. Quite a steal imo.
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Washington Prime Group pays a 25% dividend (increasing by the second), what could go wrong?
Berkshire just sold a billion euro bond at 0% coupon. Not only do they have a huge pile of cash, they would be able to essentially lock in free money in the bond market. Almost unlimited resources if the equity market gets to a point where they find great deals. Maybe Warren’s last big hurrah.
A lot of banks were absolutely crushed today down 15-20%. Many now trading well under book value. Not sure I understand them doing so much worse than the broader market unless it is about exposure to corporate bonds. This isn’t really a banking driven crisis, and liquidity and bank bailouts are one thing you can almost certainly count on from the US government if things get worse.