Down goes the Dow

Ghost of Igloi wrote:

Return to under 10,000 as well. Beau geste.

I used to sympathize with Igy, thinking he was unjustly attacked for feeling the market was overvalued.

Now, I’m not so sure that he doesn’t simply have a bunch of short positions and he’s doing all he can to sow fear.

What I don’t understand completely is how personal he seems to take it. Lately he seems like he can’t wait for the market to inflict maximum pain on people, and he’s taking joy in it.

Life is too short.

can I post with a different handle wrote:

Ghost of Igloi wrote:

Return to under 10,000 as well. Beau geste.

I used to sympathize with Igy, thinking he was unjustly attacked for feeling the market was overvalued.

Now, I’m not so sure that he doesn’t simply have a bunch of short positions and he’s doing all he can to sow fear.

What I don’t understand completely is how personal he seems to take it. Lately he seems like he can’t wait for the market to inflict maximum pain on people, and he’s taking joy in it.

Life is too short.

Sowing fear,huh. Why don’t you man up and post with your usual handle to start? You chicken shlt.

So, driving stocks, bonds, housing, commercial real estate, beyond reasonable valuations makes your view inherently pure. You are misguided in your beliefs, and you and others are paying the price for that foolishness. I don’t blame you or other than being willing sheep to slaughter. Common really; thinking you get something for nothing. Rather I blame politicians, the Fed, Wall Street, for spinning a web that traps you in a belief system of nonsense, where you believe it is always win. Sorry, you lose. It is not different this time. You do stupid things, you suffer. I have some sympathy for you and others. That said, I have zero responsibility for the ignorant decisions you or others make.

can I post with a different handle wrote:

Ghost of Igloi wrote:

Return to under 10,000 as well. Beau geste.

I used to sympathize with Igy, thinking he was unjustly attacked for feeling the market was overvalued.

Now, I’m not so sure that he doesn’t simply have a bunch of short positions and he’s doing all he can to sow fear.

What I don’t understand completely is how personal he seems to take it. Lately he seems like he can’t wait for the market to inflict maximum pain on people, and he’s taking joy in it.

Life is too short.

Igy has sold his clients on his doomsday scenario. Rather than “you can make money most of the time”, his pitch has been “you will lose less in a downturn”. And since he takes a % of his clients investments, he does take it personal.

I’ll bet he’s been taking more calls lately than his more realistic colleagues. His clients can certainly not be happy with where he has positioned them.

Ghost of Igloi wrote:

interested in opinions wrote:

Thank you.

Just as for clarification, if I believe the market will go down I buy this fund and not short it, correct?.... the reason I ask is because today the S & P is off, but PSSCX is down not up.

You are looking at yesterday’s return; it is a mutual fund, so NAV is calculated by 7:00 PM eastern. If you look at the history it does much better than being just short the market because it is managed and has a bond component. Don’t worry about the expense ratio; funny really when many who post here are down 2% just today.

Do you own any of that fund? Are you happy with the returns?

It is insane to me that anyone would pay him for financial advice. He is the Alex Jones of investing. You would be better off spending 30 minutes on Investopedia and then following the main advice there.

Besides that, if Igy is always so certain stocks are bad, why even bother coming to this thread? Just invest in bonds and shut up. If you think stocks aren't worth investing in, you're not really someone who should be involved in the discussion here.

Again, I see both sides. I find it humorous to complain about bears here. Ghost didn’t start this thread nor NAME it, be honest.

Ghost & I have locked horns many times. His true identity is not really concealed, and I credit him for being upfront in that way.

He’s in Idaho, like my younger brother, who lives north of Moscow area. I don’t agree with my brother all the time, either! The “devil” you know is better than the one who hides, and we’ve got some pretty sneaky b@stards on here, let’s face it.

I never posted regularly here and never with a registered handle, so not trying to hide anything. Again, I never posted investment advice. Why so angry and so quick to call names?

Anyhow, I checked my account this morning and after reflection, it isn’t so bad. One small benefit I guess of not fully participating in the big run up the past several years.

My 401k is down a little over 9% and a small IRA is down a little over 12%. I don’t have other investments.

If your predictions of much further pain come true, that will start to hurt. But on the positive side, at least for me, after the initial shock of seeing one’s balance drop 100k (when not that many years to hoped retirement), you then just take it in stride. A benefit of living simply I guess.

jesseriley wrote:

Again, I see both sides. I find it humorous to complain about bears here. Ghost didn’t start this thread nor NAME it, be honest.

Ghost & I have locked horns many times. His true identity is not really concealed, and I credit him for being upfront in that way.

He’s in Idaho, like my younger brother, who lives north of Moscow area. I don’t agree with my brother all the time, either! The “devil” you know is better than the one who hides, and we’ve got some pretty sneaky b@stards on here, let’s face it.

Moscow, Idaho! My great great uncle Claude Treichler discovered the Lost Wheelbarrow Mine there back in 1940.

jesseriley wrote:

Again, I see both sides. I find it humorous to complain about bears here. Ghost didn’t start this thread nor NAME it, be honest.

Ghost & I have locked horns many times. His true identity is not really concealed, and I credit him for being upfront in that way.

He’s in Idaho, like my younger brother, who lives north of Moscow area. I don’t agree with my brother all the time, either! The “devil” you know is better than the one who hides, and we’ve got some pretty sneaky b@stards on here, let’s face it.

Jesse,

I got to Idaho in a way via a job interview at University of Idaho. I was a finalist for the Women’s Track Coach position in 1996. Two years previous I was in Boise for the NCAA meet. Liked both areas, quit coaching and moved here. It is not nearly as conservative as you imagine.

Igy

seattle prattle wrote:

Ghost of Igloi wrote:

You are looking at yesterday’s return; it is a mutual fund, so NAV is calculated by 7:00 PM eastern. If you look at the history it does much better than being just short the market because it is managed and has a bond component. Don’t worry about the expense ratio; funny really when many who post here are down 2% just today.

Do you own any of that fund? Are you happy with the returns?

Seattle,

I do own a 10% position in the A share fund that has lower expenses and I can purchase without a load as an employee. I am up 12% in six months. I have purchased the share class noted for less than a dozen clients to balance equity positions they do not want to sell for tax purposes.

It is exactly the opposite. If you have money why would you pay someone to give you bad advice, the same thing you get here or on the financial networks? All one has to do is look at the last five years or twenty years to see that is a true statement. I never said not to invest in stocks, and I would never advise that. I said stocks and bonds were expensive, and set to deliver poor returns over the coming years. Most here thought it was like shooting fish in a barrel. Well, its not working.

can I post with a different handle wrote:

[quote]Ghost of Igloi wrote:

Return to under 10,000 as well. Beau geste.

I used to sympathize with Igy, thinking he was unjustly attacked for feeling the market was overvalued.

Now, I’m not so sure that he doesn’t simply have a bunch of short positions and he’s doing all he can to sow fear.

What I don’t understand completely is how personal he seems to take it. Lately he seems like he can’t wait for the market to inflict maximum pain on people, and he’s taking joy in it.

Quite the opposite.

We have been warning you about a huge crash coming so you could protect your investments.

Instead you drank the market always goes up kool-aid and belittled those who were warning you. Now, instead of accepting the consequences of your inaction, you seek to place the blame elsewhere.

Really quite pathetic.

When one questions “the cult of equities” it challenges their religion. Their impulse is to attack you from every angle possible, personal or otherwise.

Can you provide examples where I (or others) have sought to blame anyone?

Have you read your own comment?

Giles Corey wrote:

can I post with a different handle wrote:

Can you provide examples where I (or others) have sought to blame anyone?

Have you read your own comment?

Wondering how come Igy posts non-stop about the DOW going to 10,000 and housing will be slashed 40-60% (during a pandemic where prices already down 25-30%) and doing so with vengeful glee, is blaming someone?

Okay, whatever. I actually don’t have much of a dog in this fight. I do wonder why a 70 year old man who recently battled a serious illness would spend his time doing so.

Oh ... unless he’s simply trying to continue to warn us that the worst is yet to come. Either way, I’ve never blamed anyone. I had money in the market and I’ve lost some. Oh well.

can I post with a different handle wrote:

Giles Corey wrote:

Can you provide examples where I (or others) have sought to blame anyone?

Have you read your own comment?

Wondering how come Igy posts non-stop about the DOW going to 10,000 and housing will be slashed 40-60% (during a pandemic where prices already down 25-30%) and doing so with vengeful glee, is blaming someone?

Exactly