https://youtu.be/MkTw3_PmKtcthe idiot wrote:
Ghost of Igloi wrote:idiot,
Yea, and at $90.33 2020 GAAP EPS estimate trading highest PE since Tech Bubble. Take that to a 2013 price multiple and you are well below 1500. Q1 GAAP EPS at $11.57; last time we were there the S&P 500 was at 1,000.
The Feds $Trillions bought you nothing but time.
You’ll sadly see I am correct.
Igy
Igy,
I have not doubt you are sharing information that is factually correct. And yet, the markets refuse to go into free fall...
I promise I will eat crow if the markets ever get below 1500. That said, time is running out for you... come 31 December, if it's not below 1500, I'm expecting you to surrender your dignity peacefully... :-)
So, who didn't buy when the Dow was at like 18k and VIX was at 80 just a couple months ago?
Racket wrote:So, who didn't buy when the Dow was at like 18k and VIX was at 80 just a couple months ago?
Me. I waited too long. It was up maybe 15% from the bottom before I started buying back in.
VIX was at 80 for a reason... even if you KNOW you should be buying, it's way too unnerving to be putting your money down...
the idiot wrote:
Racket wrote:So, who didn't buy when the Dow was at like 18k and VIX was at 80 just a couple months ago?
Me. I waited too long. It was up maybe 15% from the bottom before I started buying back in.
VIX was at 80 for a reason... even if you KNOW you should be buying, it's way too unnerving to be putting your money down...
That's true, VIX at 80 is scary and can definitely be unnerving. However, I started buying in when we first got under 25k and continued to buy all the way down. I assumed, like everyone else, that we'd go lower than we did, but I wasn't about to miss out on a market crash. Boomers are determined to keep Millennials out of the club they managed to get into (by nothing more than pure luck, high inflation rates in the 80s, and cheap housing policies) and they'll do anything to prevent sharing even a tiny fraction of the wealth. You must always be ready to strike at a moment's notice.
Racket wrote:... they managed to get into (by nothing more than pure luck, high inflation rates in the 80s, ...
High inflation in the 80s was accompanied by bone-crushingly high interest rates. My world view has been shaped by living through that time. Me, I've never, not once, not ever, taken a variable rate mortgage (since buying a first house in 1992), and in every case, it WOULD have been better (would have saved me money). I was scarred by the 80s. My first car loan (~ $2000 maybe?) was in 1987. I don't remember the interest rate. My brain blocks out scary things...
the idiot wrote:
Racket wrote:... they managed to get into (by nothing more than pure luck, high inflation rates in the 80s, ...
High inflation in the 80s was accompanied by bone-crushingly high interest rates. My world view has been shaped by living through that time. Me, I've never, not once, not ever, taken a variable rate mortgage (since buying a first house in 1992), and in every case, it WOULD have been better (would have saved me money). I was scarred by the 80s. My first car loan (~ $2000 maybe?) was in 1987. I don't remember the interest rate. My brain blocks out scary things...
You could also put money in a savings account without being laughed at.
I got an offer for a "high interest savings account" the other day. Can't wait to put my money in an account that gets *checks offered rate* oh 1.7% wow yeah let me just do that real quick.
The biggest problem right now for Millennials is in the housing market. Barrier to entry is too high because of lack of supply and overabundance of rent seekers (the true enemy of us all) who provide absolutely no value at all to the economy.
That modest house you see down the street was for sale in 80s and 90s. Nowadays? It's for rent only, and it's not cheap.
Racket wrote:You could also put money in a savings account without being laughed at.
Do you mean in the mid-80s when I was doing my undergrad, and getting up to no good? I didn't have two nickels to rub together, let alone put away money in a high interest savings account. High inflation and high interest rates generally do not favour the poor, among which I was a proud member as a young student.
the idiot wrote:
Racket wrote:You could also put money in a savings account without being laughed at.
Do you mean in the mid-80s when I was doing my undergrad, and getting up to no good? I didn't have two nickels to rub together, let alone put away money in a high interest savings account. High inflation and high interest rates generally do not favour the poor, among which I was a proud member as a young student.
I don't mean you, I just mean in general.
High inflation does favor those with fixed debts, usually.
Racket wrote:That modest house you see down the street was for sale in 80s and 90s. Nowadays? It's for rent only, and it's not cheap.
We bought a place in a fairly expensive market last fall; a condo we will move into when my spouse retires and we move back to the continent. I will grant you that home ownership is way out of reach for young people. I could only barely afford it because we have two incomes, are in our peak earning years nearing the late middle / early end of our careers. Many of my younger colleagues have moved to less expensive (and less desirable for the most part) places to be able to buy (and to generally have lower cost of living).
You’re on Twitter more than Trump.
I read to learn. You might try it.
Stater of the obvious wrote:
You’re on Twitter more than Trump.
#stayathomedetectordude
this...market...is....stupid
Ghost of Igloi wrote:
I read to learn. You might try it.
Ever hear of books?
agip wrote:this...market...is....stupid
3080... go SP500!
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