Down goes the Dow

you guys accusing each other of being lemmings.

Well, maybe that's not such a bad thing. The point is to be a lead lemming, and early adopter. Then when others follow, you prosper.

Oh, but they follow the leaders off a cliff to their death, you say!

Wrong. Urban myth, and they do no such thing.

So, i think you are actually completing eachother. You want to be part of a mass movement. Just better to be part of the early wave when many following in your footsteps.

Seattle,

Perhaps, we’ll see how long it is fashionable to purchase equities at higher prices each day. Not my idea of a bargain when buying with one hand and selling with the other. Oh well.

Igy

Ghost of Igloi wrote:

I admit to not being as frugal as Flagpole.

After reading recent pages of this thread, I agree that there is a lot you could learn from Flagpole.

I remember when Cabbage Patch Dolls were selling for $1,000. Should have got in then. Hummels had their day, as well. And then there were those Beanie Babies.

Ghost of Igloi wrote:

Seattle,

Perhaps, we’ll see how long it is fashionable to purchase equities at higher prices each day. Not my idea of a bargain when buying with one hand and selling with the other. Oh well.

Igy

As you so often point out, there are two sides to every transaction. If someone is buying at a high price, then someone is selling at a high price. At least one, and possibly two, people are making money.

seattle prattle wrote:

Could you put that into something i can understand? The recent one about being on a ship with a drunk captain particularly comes to mind.

Got to love ending the week on an up-note, don't you?!

Again.

Iggy posted some charts.

What about them so confuses you?

Ghost of Igloi wrote:

Seattle,

Perhaps, we’ll see how long it is fashionable to purchase equities at higher prices each day.

Igy

You've been singing the same song for 3 1/2 years. Equity purchases made in 2015, 2016, 2017 have done quite well.

Only time will tell if you're wrong again about purchases made this year.

mellon wrote:

Ghost of Igloi wrote:

Seattle,

Perhaps, we’ll see how long it is fashionable to purchase equities at higher prices each day.

Igy

You've been singing the same song for 3 1/2 years. Equity purchases made in 2015, 2016, 2017 have done quite well.

Only time will tell if you're wrong again about purchases made this year.

Only time will tell if your purchases made since 2011 will pay off. I say they won’t?.

Ghost of Igloi wrote:

mellon wrote:

You've been singing the same song for 3 1/2 years. Equity purchases made in 2015, 2016, 2017 have done quite well.

Only time will tell if you're wrong again about purchases made this year.

Only time will tell if your purchases made since 2011 will pay off. I say they won’t?.

And that’s why you are a lousy financial planner.

Veritas wrote:

Ghost of Igloi wrote:

Only time will tell if your purchases made since 2011 will pay off. I say they won’t?.

And that’s why you are a lousy financial planner.

And I can tell you know very little about market history. I suggest you crack the books.

Ghost of Igloi wrote:

Veritas wrote:

And that’s why you are a lousy financial planner.

And I can tell you know very little about market history. I suggest you crack the books.

I know enough history to tell that a 2011 investment in the Dow has more than doubled.

Ghost of Igloi wrote:

mellon wrote:

You've been singing the same song for 3 1/2 years. Equity purchases made in 2015, 2016, 2017 have done quite well.

Only time will tell if you're wrong again about purchases made this year.

Only time will tell if your purchases made since 2011 will pay off. I say they won’t?.

Igy, this reasoning is faulty.

The stock may fall 'eventually' to a level below what he/she purchased it in 2011, but that doesn't mean he has to continue holding it. And if he now holds a stock that has significantly appreciated in value, the likelihood that he will be able to sell at a profit is greater than the likelihood that he will sell at a loss.

I think your agruement that current levels are unsustainable is a lot more believable than your assetion that you made years ago at the early stages of a bull market.

seattle prattle wrote:

Ghost of Igloi wrote:

Only time will tell if your purchases made since 2011 will pay off. I say they won’t?.

Igy, this reasoning is faulty.

The stock may fall 'eventually' to a level below what he/she purchased it in 2011, but that doesn't mean he has to continue holding it. And if he now holds a stock that has significantly appreciated in value, the likelihood that he will be able to sell at a profit is greater than the likelihood that he will sell at a loss.

I think your agruement that current levels are unsustainable is a lot more believable than your assetion that you made years ago at the early stages of a bull market.

You don’t understand. Igy always looks at the worst case scenario. It’s in his nature. He’s a very unhappy guy living a life that he pretends to enjoy, but really loathes. It’s obvious from his posts here that his self image is in the crapper. He wants us to fail at our investments so that we will come down to his level. Misery loves company.

seattle prattle wrote:

Ghost of Igloi wrote:

Only time will tell if your purchases made since 2011 will pay off. I say they won’t?.

Igy, this reasoning is faulty.

The stock may fall 'eventually' to a level below what he/she purchased it in 2011, but that doesn't mean he has to continue holding it. And if he now holds a stock that has significantly appreciated in value, the likelihood that he will be able to sell at a profit is greater than the likelihood that he will sell at a loss.

I think your agruement that current levels are unsustainable is a lot more believable than your assetion that you made years ago at the early stages of a bull market.

Seattle.

Perform an experiment, start with your personal investment statements month ending March 2000 and compare it to February 2009. Time weight your return money in/out. Lets here what the actual percentage return was. That is a much longer time period than what I am suggesting.

Igy

Veritas wrote:

Ghost of Igloi wrote:

And I can tell you know very little about market history. I suggest you crack the books.

I know enough history to tell that a 2011 investment in the Dow has more than doubled.

I know enough that it takes half as much to be at that level again.

I am glad you know so much about a guy that has accomplished things you dream of but never even try.

Cherry pick much?

Over the long durations, the stock market has been a profitable creator of wealth for market participants.

Yes, you can pick any number of downturns that might support a short-sighted inference that it is otherwise. And you could base your entire investment philosophy/strategy on that short term trend. And you might even find some communist blogs on the internet that support your inferences (ok, that part is a little over the top, granted).

But that is not to say that overall, the market is and has been a very viable and profitable vehicle for creating wealth.

It certainly has been for me regardless of some downturns along the way.

Seattle,

It certainly not cherry picking when your at record extreme valuations and comparing to the same. You just want to believe that in the end the averages will work for you. Sure you stay invested, don’t need the money it doesn’t matter, but that has nothing to do with my point.

Igy