I feel pretty good about my b&h, I have no intention to do anything with it today. Work goes on, construction site down the street still active, I will be doing travertine again after lunch unless the markets go haywire. Lots of calls already this morning from friends who think that I know more than I do. One friend turned on me and called me “a fukking sellout” for having a b&h fund!
Regarding the idea someone (Racket?) had about boomers retiring, my anecdotal experience is that a doctor friend of mine is now retiring at 63, another friend who has worked at Honeywell his whole life just put in his notice at 63, another guy I know who was a stock promoter and who had a second career with the USPS is retiring now being 71, and there are others. All are relying on their 401k’s and IRA’s, all have done well in the markets in the last 20 years.
Down goes the Dow
Report Thread
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Sprintgeezer wrote:
This thread is nuts, look at how many posts! Unbelievable! As I surf the letsrunboard while stretching, this is already at the top of the list and it’s not even 7am. What am I missing?
You are right, it should be dead. But it is staying alive by one who is hanging on to the idea that the OP will come true.
So hang on, it could be a long wait. -
Bought some AAPL
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Maserati wrote:
Regarding the idea someone (Racket?) had about boomers retiring, my anecdotal experience is that a doctor friend of mine is now retiring at 63, another friend who has worked at Honeywell his whole life just put in his notice at 63, another guy I know who was a stock promoter and who had a second career with the USPS is retiring now being 71, and there are others. All are relying on their 401k’s and IRA’s, all have done well in the markets in the last 20 years.
Just basic demographics really. Boomers are getting older and there's a lot of them. They're approaching or at retirement age. Will they hang on and work until the age of 70? Maybe, sounds like something a generation of over-zealous, self righteous flagellants would do -
LMAO I am with you, all the way. I can say that because I’m mot a boomer, thank god.
There are lots of double-dippers, though, working until 70 and even beyond—however, that won’t go on forever.
From the people I know, they have experienced both 2000 and 2008, and have seriously been rotating out of securities to avoid what they see as the coming drop, Dec made them nervous for the last time. Lots of retirement decisions and rebalancings just came after marker re-inflation -
Made serious inquiries about some Mediterranean RE early this morning, I would like to do this while the dollar is still relatively good
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Maserati wrote:
Made serious inquiries about some Mediterranean RE early this morning, I would like to do this while the dollar is still relatively good
Buying some property on Cote d'Azur? Can you buy me one too while you're at it? I'll pay you back I swear.
10,000 sq ft minimum too please. And a few acres of greenery for my dogs to run around. Thanks! -
LMAO it’s under 1000 sqft, sorry. But it’s prime, and we know the area intimately. Might be too late for that one, but have our eye on a much bigger one with an elevator for the car, that I can then drive into the garden or living room, as req’d. :^) That one, however, the 81 and 83yr old current owners want to retain a life estate, unfortunately they are pretty healthy. It is mint, right on the med...unfortunately, there is a busy road down below. We’ll see. Can get a good deal because of the retained life estate
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I have done so well there renting from connections that I only want to buy to diversify a bit more. Great rental deals
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Meetings until lunch, good luck to everyone today
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Racket wrote:
Maserati wrote:
Regarding the idea someone (Racket?) had about boomers retiring, my anecdotal experience is that a doctor friend of mine is now retiring at 63, another friend who has worked at Honeywell his whole life just put in his notice at 63, another guy I know who was a stock promoter and who had a second career with the USPS is retiring now being 71, and there are others. All are relying on their 401k’s and IRA’s, all have done well in the markets in the last 20 years.
Just basic demographics really. Boomers are getting older and there's a lot of them. They're approaching or at retirement age. Will they hang on and work until the age of 70? Maybe, sounds like something a generation of over-zealous, self righteous flagellants would do
Instead one can graduate from a private college with a degree in gender studies while experiencing world travel financed by student loans. A professional barista offers flexibility in lifestyle choices and gives one the opportunity to discuss with the like minded about the elimination of student debt and viability of reparations for those disadvantaged by white privilege. -
SP500 drops 0.45% and the headline is “major comeback”.
And, really, that is the news. New highs coming this week.
Bullish!
😂 -
Maserati wrote:
SP500 drops 0.45% and the headline is “major comeback”.
And, really, that is the news. New highs coming this week.
Bullish!
😂
The market can't put itself in a downward spiral even when tries hard.
"Melt Up" -
They learned their lesson late last year. In all honesty, I was not at all worried today. I am not worried now as the s&p closed down half a percent.
Trade crap = up
End QE = up
More QE = up
Retirements = up
Election run-up = up
Election result (no matter what, unless hard-core socialist) = up
Oil up = up
Oil down = up
Etc.
The domestic equity markets consist of inflation-protected securities, in the aggregate. -
Maserati wrote:
They learned their lesson late last year. In all honesty, I was not at all worried today. I am not worried now as the s&p closed down half a percent.
Trade crap = up
End QE = up
More QE = up
Retirements = up
Election run-up = up
Election result (no matter what, unless hard-core socialist) = up
Oil up = up
Oil down = up
Etc.
The domestic equity markets consist of inflation-protected securities, in the aggregate.
Global PMI = down....
https://mobile.twitter.com/JeffreyKleintop/status/1124382941184811009?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1124382941184811009&ref_url=https%3A%2F%2Fwww.zerohedge.com%2Fnews%2F2019-05-06%2Fworld-stocks-crash-global-economy-suffers-longest-losing-streak-history -
Since a shareholder cannot execute on particular business property, there is no intrinsic value, or equivalent value, to a stock. It is an intangible, a basket of rights, that is valued according to a number of criteria.
You watch, this will be managed just like everything else. There is no good reason that investor irrationality should, over whatever time frame, diminish the value of a stock relative to inflation.
Think of it as a means of the gov controlling the money supply. -
So, no bad days. YOLO. Life is GOOD.
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Maserati wrote:
SP500 drops 0.45% and the headline is “major comeback”.
And, really, that is the news. New highs coming this week.
Bullish!
😂
The Dow was forecasted to drop 2%. It rebounded to only a 0.25% loss. That is quite a big comeback. -
Why should there be, in the aggregate? There is no plague, no famine, no pandemic, no meteor strike, no huge volcanism...
What exactly is bad, that is not an externality? Of course we are killing the planet, the end is nearer every day—but that is external to the market as long as we have oil, and we do—and we will for your lifetime.
Even at that, necessity means opportunity, and opportunity is the potential for growth.
