Up 2% in the last hour. I guess that qualifies as a quiet close.
Hanging at 25% down. Which is less than an average bear market.
The problem is that the last two big bear markets hit us 50%.
Up 2% in the last hour. I guess that qualifies as a quiet close.
Hanging at 25% down. Which is less than an average bear market.
The problem is that the last two big bear markets hit us 50%.
seattle prattle wrote:
agip wrote:
nah y'all misunderstand - I meant rumors.
There are trials going on all over the world - rumors are going to come out about their results, which will affect markets positively.
Doesn't mean we'll have a vaccine soon.
Although there is also a chance that an existing medicine will work against this virus, which would be awesome since that medicine is approved already.
if it were found that an existing med could treat it, yeah, the sky is the limit. Otherwise, even the news or rumors of a promising vaccine would be a nothing burger for the markets, imo, because it still assumes massive amounts of time for testing, production, etc. If i saw a bump like that, i would figure it's just some daytrading trying to for a quick trade or two.
Here, these sorts of efforts are likely to bring out some good news.
NYT:
Working at a breakneck pace, a team of hundreds of scientists has identified 50 drugs that may be effective treatments for people infected with the coronavirus.
Many scientists are seeking drugs that attack the virus itself. But the Quantitative Biosciences Institute Coronavirus Research Group, based at the University of California, San Francisco, is testing an unusual new approach.
The researchers are looking for drugs that shield proteins in our own cells that the coronavirus depends on to thrive and reproduce.
Many of the candidate drugs are already approved to treat diseases, such as cancer, that would seem to have nothing to do with Covid-19, the illness caused by the coronavirus.
https://www.nytimes.com/2020/03/17/science/coronavirus-treatment.html?action=click&module=Top%20Stories&pgtype=HomepageAnd you can tell it's serious because, if you look closely, the clock in the background says 6:10. Regardless if it's AM or PM, somebody's not joking around.
But seriously, how cool would that be?!
seattle prattle wrote:
And you can tell it's serious because, if you look closely, the clock in the background says 6:10. Regardless if it's AM or PM, somebody's not joking around.
But seriously, how cool would that be?!
read the whole story if you can get through the paywall - it's heartening to see groups of scientists around the world working together formally and informally. The speed of science is amazing these days.
I do, every night during the work week, in that i have a subscription - NY Times is the best!
Thx.
German company CareVac could have a vaccine by fall. Modern science is incredible. Even if its a few months after, all the initial reports were earliest would be late 2021. Some good news amongst the gloom.
Ghost of Igloi wrote:
Racket wrote:
Question to the boomers with money, is this what buying a house for 6 cents and a few coke cans in 2010 felt like? Did you know in 10 years you'd be a millionaire from doing absolutely nothing despite filling the house with tacky wallpaper and carpet (over hard wood floors lol)? Because that's how I feel right now buying into this stock market.
Millennials who let a once-in-a-generation dip go by officially replace boomers as dumbest ever
You’re a fool.
Figured you'd be in better spirits what with the global political economy totally cratering. Don't tell me one relief rally has you in the dumps
agip wrote:
seattle prattle wrote:
And you can tell it's serious because, if you look closely, the clock in the background says 6:10. Regardless if it's AM or PM, somebody's not joking around.
But seriously, how cool would that be?!
read the whole story if you can get through the paywall - it's heartening to see groups of scientists around the world working together formally and informally. The speed of science is amazing these days.
That actually is an interesting approach they're taking. By the way stuff like that is what quantum computing will hopefully speed up even more when it becomes more mature.
Racket wrote:
Ghost of Igloi wrote:
You’re a fool.
Figured you'd be in better spirits what with the global political economy totally cratering. Don't tell me one relief rally has you in the dumps
You would be wise to concentrate on your own choices and behavior rather than constantly blaming a convenient target. In regards to the market, if you think the market is a bargain, just wait. If you’re so set on buying a house, save your money, you’ll get your bargain.
I don’t know how many times I wrote about the dangers of buyback, discounted by most here. Now it is coming home to roost in a big way:
Ghost of Igloi wrote:
Racket wrote:
Figured you'd be in better spirits what with the global political economy totally cratering. Don't tell me one relief rally has you in the dumps
You would be wise to concentrate on your own choices and behavior rather than constantly blaming a convenient target. In regards to the market, if you think the market is a bargain, just wait. If you’re so set on buying a house, save your money, you’ll get your bargain.
OK
agip wrote:
also:
2019: Stocks up 31%
2020: Stocks down 30%
Without checking your data, I do want to make clear that up 31% in 2019 then down 30% in 2020 is a net loss.
As an example, begin at 100, up 31% gets you to 131. Lose 30% of 131 and you are at 92.
An 8% net loss for the two year period.
Giles Corey wrote:
agip wrote:
also:
2019: Stocks up 31%
2020: Stocks down 30%
Without checking your data, I do want to make clear that up 31% in 2019 then down 30% in 2020 is a net loss.
As an example, begin at 100, up 31% gets you to 131. Lose 30% of 131 and you are at 92.
An 8% net loss for the two year period.
true enough.
But after today
2019: +31%
2020: -23%
agip wrote:
Giles Corey wrote:
Without checking your data, I do want to make clear that up 31% in 2019 then down 30% in 2020 is a net loss.
As an example, begin at 100, up 31% gets you to 131. Lose 30% of 131 and you are at 92.
An 8% net loss for the two year period.
true enough.
But after today
2019: +31%
2020: -23%
Right about where it was in the early fall of 2017.
Giles Corey wrote:
agip wrote:
true enough.
But after today
2019: +31%
2020: -23%
Right about where it was in the early fall of 2017.
agreed again.
although I'd say the better measurement is 10 years at around 10% per year even after this.
agip wrote:
Giles Corey wrote:
Right about where it was in the early fall of 2017.
agreed again.
although I'd say the better measurement is 10 years at around 10% per year even after this.
I am a bit more concerned about the next 10 days, 10 months, than the last ten years
Ghost of Igloi wrote:
I don’t know how many times I wrote about the dangers of buyback, discounted by most here. Now it is coming home to roost in a big way:
https://twitter.com/NorthmanTrader
Buybacks helped make a lot of money for a lot of us. Danger is in the eye of the beholder.
Giles Corey wrote:
agip wrote:
agreed again.
although I'd say the better measurement is 10 years at around 10% per year even after this.
I am a bit more concerned about the next 10 days, 10 months, than the last ten years
always good to look forward.
but also good to use history as a guide. We got though a ton of massive problems over the last 10 years and got our 10% per year return.
We got through a ton of problems over the last 40 years and still got our 10% return.
I'm sure there were many Giles Coreys in every single one of those years scared to death of stocks, worried about losing.
What should they have done? Sold?
