Down goes the Dow

The Unkle wrote:

Racket wrote:

All the common everything trades are up man. Fed isn't raising rates until 2023. The only reason to sell anything in the meantime would be to escape government regulation crackdowns like on Google, Amazon, or Facebook. That's pretty much the only headwind.

The economy is in tatters and will only be made far worse as we get pushed into at least 4 months of lockdowns.

The Street loves it.

But, at some point, doesn't the market have to reflect the economy?

So basically it just sounds like take a good chunk of cash and just throw it in and let it ride...

Man, the true middle class is getting absolutely destroyed by all of this. Not getting much of these market gains, getting their savings devalued by the USD getting pumped, and still has to go to work in person and not remote.

The Unkle wrote:

Racket wrote:

All the common everything trades are up man. Fed isn't raising rates until 2023. The only reason to sell anything in the meantime would be to escape government regulation crackdowns like on Google, Amazon, or Facebook. That's pretty much the only headwind.

The economy is in tatters and will only be made far worse as we get pushed into at least 4 months of lockdowns.

The Street loves it.

But, at some point, doesn't the market have to reflect the economy?

The economy only sucks if you're poor and they weren't buying stocks or houses anyways. Sucks to say it like that but it's true.

For everyone else this has been one of the biggest windfalls in history. Middle class America basically got forced to halt their sh!tty financial habits of frivolous spending and proceeded to save more money than God and reduce a massive amount of debt. Banks were offering 3-6 month mortgage deferrals without any justification - you could just take it with no penalty and tack it on to the end of the loan. The way I see it, you can either sit here and rail against the "unfair" Federal Reserve and enjoy that .8% high yield savings account or you can hop on the train to Millionaireville

Racket wrote:

Swaglord_the_real_one_1_one_1 wrote:

Which ETFs are up 300%??

Probably most bull 3x leveraged ones

nah

the ones I bought 10+ years ago

agip wrote:

Racket wrote:

Probably most bull 3x leveraged ones

nah

the ones I bought 10+ years ago

Should have put it all in TSLA 10 years ago instead of boomer ETFs. Then you'd be the richest person on here

Racket wrote:

agip wrote:

nah

the ones I bought 10+ years ago

Should have put it all in TSLA 10 years ago instead of boomer ETFs. Then you'd be the richest person on here

yeah and I shoulda bought bitcoin 10 years ago too.

BTW convertibles are up 50% this year.

what the heck.

judging by CWB

Then when the TSLA is back to $55 you would wish you kept boomer investments that actually make financial sense. ?

and for Winona's sake, I'm not a boomer.

I'm an Xer

Ghost of Igloi wrote:

Then when the TSLA is back to $55 you would wish you kept boomer investments that actually make financial sense. ?

I think TSLA is kind of a bubble hype stock a little. But how does it "not make financial sense"?

The value of a stock is what investors expect in the future.

Revolutionizing the way people transport themselves, and also having a valuable global brand... those are def super valuable if it works out right.

What does TSLA do that is so revolutionary? The company does not make money. It continues to survive off being able to sell shares at ever higher prices and by the sale of green energy credits to fund operations. Look for yourself on page 41:

https://www.annualreports.com/HostedData/AnnualReports/PDF/NASDAQ_TSLA_2019.pdf

Trading at 1,200 x “earnings” is a ridiculously stupid investment at this price. Along with Bitcoin poster children of this age of excess and foolish behavior.

Ghost of Igloi wrote:

What does TSLA do that is so revolutionary? The company does not make money.

There is hype in the current price for sure.

How is it not revolutionary? Imagine they produce a cool, reliable, EV that everybody wants. They control the servicing, etc. Battery replacement and recycling. They have new tech, iPhone-like upgrade cycles, etc.

That's a huge cash cow.

agip wrote:

and for Winona's sake, I'm not a boomer.

I'm an Xer

I didn't say you were a boomer, I just implied ETFs were boomer creations.

Nothing necessarily wrong with that. Boomers also created ranchers. That's my ideal mansion - one giant single level rancher

Racket wrote:

agip wrote:

and for Winona's sake, I'm not a boomer.

I'm an Xer

I didn't say you were a boomer, I just implied ETFs were boomer creations.

Nothing necessarily wrong with that. Boomers also created ranchers. That's my ideal mansion - one giant single level rancher

Ja, with one of these parked in your driveway, def.

Swaglord_the_real_one_1_one_1 wrote:

Ghost of Igloi wrote:

What does TSLA do that is so revolutionary? The company does not make money.

There is hype in the current price for sure.

How is it not revolutionary? Imagine they produce a cool, reliable, EV that everybody wants. They control the servicing, etc. Battery replacement and recycling. They have new tech, iPhone-like upgrade cycles, etc.

That's a huge cash cow.

I take it you did not read the most recent Annual Report. You are deluding yourself, TSLA is clearly not a huge cash cow but rather a cash dumpster fire. The cash comes from selling stock and diluting current shareholders. Recent investors have simply paid up front for ten years of future earning. Not very wise in my view, but I wish you the best of luck with your theory.

Racket wrote:

agip wrote:

nah

the ones I bought 10+ years ago

Should have put it all in TSLA 10 years ago instead of boomer ETFs. Then you'd be the richest person on here

Okay, I bought Tesla maybe a year and half or two years ago. Admittedly i've been shook-out a few times along the way, but still doing really well, and it is a significant holding for me.

Have rode the 3x leverged ETF rockets for most of my investing history, including the small cap and the tech. and nasdaq.

Saw the promise of Aaple and Google 20 years and in the subsequent years Amazon and Netflix and invested accordingly.

Other good ventures out there with positions but not to the levels of those mentioned above.

Lost some on bitcoin.

Market now seems obviously reacting to positive developments on a relief package and to powell's comments yesterday, but let's not forget the January bounce we usually see and this would be a good time to position accordingly, albeit on a short term basis, as it may come to be.

[quote]seattle prattle wrote:

Lost some on bitcoin.

How?

Tesla hit all time high today.

As did bitcoin pretty much -- equaled the high that was briefly reached 3 years ago

when it crashed a couple of years ago. Cut my losses and moved on.

But if I can do a little bit of reflecting, as us boomers are want to do, taking the loss was perfect move since i took the capital remaining and put it into the market at a perfect time to ride it back up. Good move there.

I don't trust bitcoin.

agip wrote:

Racket wrote:

I didn't say you were a boomer, I just implied ETFs were boomer creations.

Nothing necessarily wrong with that. Boomers also created ranchers. That's my ideal mansion - one giant single level rancher

Ja, with one of these parked in your driveway, def.

https://en.wikipedia.org/wiki/Ford_Country_Squire

Don't mind if I do

Igy - the Nasdaq having best year since 2009. Did your clients miss out on that?