Down goes the Dow

the idiot wrote:

agip wrote:I'm thinking about buying REITs in size.

They are down 15% but at these interest rates should be very appealing.

They can refi their debt...and their dividends will be very appealing.

I started buying into REIT ETFs about 3 weeks ago ahead of the crash. They are down, not quite as much as the market they belong with. Hopefully they will rebound more sharply given the very favourable interest rates.

Retail will be way off (double wammy of the usual no disposable income in a recession PLUS no one will want to go to physical stores/malls due to virus) so commercial real estate will flounder.

REITs won't be able to refi because they can't cover debt service coverage ratios.

Calvin K wrote:

agip wrote:

The store shelves may be empty but we can get all the stock we want, 20% off, no lines.

I just bought a tech ETF, VGT. Will continue to buy.

You are buying at the second down wave, wrong move, there will be 3-4 waves at least.

There could more waves than that because the Orange One is about to jump in the pool. He wants an economic stimulus package NOW, and is meeting today with his "economic" advisors (rich pals). Yes, the greatest economy the world has ever seen (lead by Trump) suddenly needs big time stimulus.

At some point intervention is spitting into the wind. Of course spoiled over leveraged investors are praying for another stick save.

We have broken up for lunch. Guy here who was asking me about oil shorted the shlt out of it and has just made his life’s fortune. He’s taking our group out to a no-hold’s-barred steak dinner tonight. Wow, it was huge, and it happened right in front of me. He admits it was 5% smarts and 95% luck. What a day!

Very few of us are in to any great extent, and those who are, are really loaded and can afford anything. There is no excitement here, just me and a bunch of old geezers who have seen this more than a few times. I am thankful for their guidance.

2 guys are BRK-A holders and just came for amusement. They have done nothing for the past 30 years.

Met with broker, moving more into brokerage. He and others there are standing pat in their personal positions, not buying yet. Same with me. If these levels continue, selling will be triggered and prices will grind downward. Oil is the tricky play because the discount won’t last forever. Shale and its lenders will at some point be exposed. Would like to buy some Chevron, but don’t know when.

Again, watch lenders, euro especially.

Dammit let’s GO. This is still tepid. Still just a “normal correction”. We are back to June. This is the zone where I have difficulties, it is non-committal.

I might start buying select names tomorrow—MSFT, AAPL, AMZN, etc. Probably not oil. Maybe some car parts, not O’Reilly (up today). Cheap-crap food companies, maybe. Walmart. Maybe Costco. Food business with cheap third-world supply chains, like bananas and coffee. Etc. Who knows, busy afternoon looking for value.

Maserati wrote:

Dammit let’s GO. This is still tepid. Still just a “normal correction”. We are back to June. This is the zone where I have difficulties, it is non-committal.

I might start buying select names tomorrow—MSFT, AAPL, AMZN, etc. Probably not oil. Maybe some car parts, not O’Reilly (up today). Cheap-crap food companies, maybe. Walmart. Maybe Costco. Food business with cheap third-world supply chains, like bananas and coffee. Etc. Who knows, busy afternoon looking for value.

KMB up for the day. Darn if I didn’t sell it at 116 last year

Also Google and payment systems like Paypal, Visa, Mastercard

I expect Trump, as part of his stimulus, will be sending money to the healthcare industry. Most people have no way to pay the cost of virus treatment.

Nothing to worry about. Up 2.5% in an hour and a half. By the close we should be back to all time highs.

KMB yes, PG looking strong as expected

Orange Waves wrote:

I expect Trump, as part of his stimulus, will be sending money to the healthcare industry. Most people have no way to pay the cost of virus treatment.

The money will go to trump donors. that's the only way he knows how to think. Help only the people who help you. It's Trump University 101.

Lol the funny thing is that that is a possibility! Well at least a return to green

UTX will have been overlooked and obscured by handouts to other sectors.

Bought TMUS. Still window shopping.

Uncle B wrote:

It's a masscre

?

You investment neophytes crack me up.

agip wrote:

Nothing to worry about. Up 2.5% in an hour and a half. By the close we should be back to all time highs.

We're 600 points up from the day's low! Now that's a bull market!!

what would be interesting and worth looking out for is if this wipeout finally reversed the 12 year awfulness of value investing. This period has been shocking in how badly value has done vs., growth...maybe people will start picking up cheap companies now.

Just a thought...nothing I feel strongly about.

Growth will be the rebound IMO

Karz for kids is of course a Jewish scam.

Down, down, down goes the Dow.

Enjoy the ride.