Major stock crash imminent

Sorry. I thought I was conversing with an adult.

No, your 7th grade classmate.

You and I were never classmates. You couldn’t have passed the entrance exam. Now go to bed.

talk to a ... wrote:

Finish Leaf Raking Team wrote:

Financial advisors are worthless. Index it and forget it

Spoken like a person who only as a little toe in the markets. There are reasons those with one million dollars to fifteen million dollars in markets have full service financial advisors. Investors at large NYSE firms sometimes fall out with their advisors. They do not take their millions to a toll free number at Vanguard, the unhappy big guys go to another NYSE firm.

Not as you often as you would think. My net worth qualifies me to be amongst the group you reference and i have never had a financial advisor and do all my investing through an online discount brokerage and retirement accounts through work. Many of us feel that with assets in that range, we need to take responsibility for our own management of them.

As for indexing, not a bad place to start....

high net worth wrote:

talk to a ... wrote:

Spoken like a person who only as a little toe in the markets. There are reasons those with one million dollars to fifteen million dollars in markets have full service financial advisors. Investors at large NYSE firms sometimes fall out with their advisors. They do not take their millions to a toll free number at Vanguard, the unhappy big guys go to another NYSE firm.

Not as you often as you would think. My net worth qualifies me to be amongst the group you reference and i have never had a financial advisor and do all my investing through an online discount brokerage and retirement accounts through work. Many of us feel that with assets in that range, we need to take responsibility for our own management of them.

As for indexing, not a bad place to start....

Below $100,000, I understand why many use the Vanguard toll free phone number; below $100,000, I understand why many use discount brokers as a casino. There are break points at full service firms. It most likely will be worth it for you to go to a NYSE full-service firm.

high net worth wrote:

talk to a ... wrote:

Spoken like a person who only as a little toe in the markets. There are reasons those with one million dollars to fifteen million dollars in markets have full service financial advisors. Investors at large NYSE firms sometimes fall out with their advisors. They do not take their millions to a toll free number at Vanguard, the unhappy big guys go to another NYSE firm.

Not as you often as you would think. My net worth qualifies me to be amongst the group you reference and i have never had a financial advisor and do all my investing through an online discount brokerage and retirement accounts through work. Many of us feel that with assets in that range, we need to take responsibility for our own management of them.

As for indexing, not a bad place to start....

Perhaps you should read this before your millions are halved:

Jumanji wrote:

You and I were never classmates. You couldn’t have passed the entrance exam. Now go to bed.

But you know we are both in the remedial math class. The entrance exam was our poor scores.

talk to a ... wrote:

high net worth wrote:

Not as you often as you would think. My net worth qualifies me to be amongst the group you reference and i have never had a financial advisor and do all my investing through an online discount brokerage and retirement accounts through work. Many of us feel that with assets in that range, we need to take responsibility for our own management of them.

As for indexing, not a bad place to start....

Below $100,000, I understand why many use the Vanguard toll free phone number; below $100,000, I understand why many use discount brokers as a casino. There are break points at full service firms. It most likely will be worth it for you to go to a NYSE full-service firm.

You are dead wrong at least about online discount brokerages being a casino. It is the opposite. For those of us willing to learn about investing, the returns may be very profitable. You say "most likely will be worth it for you to go to a NYSE full service firm" and that's probably true. But i think you would be amazed how many self-directed investors are worth a lot of money. Frankly, I understood early on that the management of my money would probably be more profitable than the actual work that it took me to make it in the first place. So i wasn't afraid to put the time in and it paid off.

That said, my advice to anyone doing it for themselves is to keep it simple. I've avoided bonds for the most part, futures, options, stuff like that- too complicated and risky. Simple long term buy and hold. And index funds can make up the basis of one's investments and do well. Not all, but it can form the foundation quite adaquately.

Nonsense Brah wrote:

Mark’s Thoughts wrote:

[quote]Why adopt the language wrote:

[quote]Mark’s Thoughts wrote:

I would expect a ~20% correction from the highs in this environment, but it’s holiday season and we just bounced off significant S&P weekly support level today.

Why is a loss of 20% of value a "correction"? Isn't it really a decrease? Gains are called gains, not corrections. Why not call a loss a loss?

It’s just terminology adopted by the investing community:

Nah. It's sales language designed by those who sell investments and investment advice to the public and is meant to confuse.

Like "risk tolerance".

Well, you’re free to use “loss” if you want. I like “correction” or “pullback.” I’m not selling anything, but would never use “loss” because I try to gain no matter which direction the market is moving. I can definately understand why most would consider it a loss during the pullback.

This is 100% accurate. Unless you are retarded, you will always do better investing in index funds, etc. from someplace like Vanguard than you will with a so called “full service” outfit. This is beyond debate.

I’m sure the ones suggesting otherwise are protecting their own. Ignore their selfish posts.

“I've avoided bonds for the most part, futures, options, stuff like that- too complicated and risky. Simple long term buy and hold.”

I am assuming you don’t think bonds are complicated. If you were using the same strategy, how did you fare 2000 through 2013?

On one hand you stated you 100% agree with the poster to whom you are responding, then you destroyed NYSE firms without evidence. The high net worth individual to whom you responded never stated he had accounts at a NYSE firm. Neither of you truly now what you are missing. Since everyone who has an account at a NYSE firm is free to leave each firm at anytime, there are logical reasons so much money stays at NYSE firms.

Ghost of Igloi wrote:

“I've avoided bonds for the most part, futures, options, stuff like that- too complicated and risky. Simple long term buy and hold.”

I am assuming you don’t think bonds are complicated. If you were using the same strategy, how did you fare 2000 through 2013?

bonds are not hat complicated but I never saw the point. The returns are too low and i was doing well without them.

But honestly, they were just a bit more involved than i wanted or saw necessary.

During the years referenced, we (wife and I, joint accounts) did great. Picked the right stocks and rode them up, good mutual funds invested in through work to max. allowed, with company match, 403 B limits very high btw(!), and many of them were index funds, especially S&P 500.

Thanks for asking.

Wait, is there some shiny metal that rich old white guys cluster to that I could buy instead of stocks????

high net worth wrote:

Ghost of Igloi wrote:

“I've avoided bonds for the most part, futures, options, stuff like that- too complicated and risky. Simple long term buy and hold.”

I am assuming you don’t think bonds are complicated. If you were using the same strategy, how did you fare 2000 through 2013?

bonds are not hat complicated but I never saw the point. The returns are too low and i was doing well without them.

But honestly, they were just a bit more involved than i wanted or saw necessary.

During the years referenced, we (wife and I, joint accounts) did great. Picked the right stocks and rode them up, good mutual funds invested in through work to max. allowed, with company match, 403 B limits very high btw(!), and many of them were index funds, especially S&P 500.

Thanks for asking.

That is truly amazing, especially with no bonds since stocks were flat 2000-2013.

a foolish post wrote:

David Stockmkt wrote:

This is 100% accurate. Unless you are retarded, you will always do better investing in index funds, etc. from someplace like Vanguard than you will with a so called “full service” outfit. This is beyond debate.

I’m sure the ones suggesting otherwise are protecting their own. Ignore their selfish posts.

On one hand you stated you 100% agree with the poster to whom you are responding, then you destroyed NYSE firms without evidence. The high net worth individual to whom you responded never stated he had accounts at a NYSE firm. Neither of you truly now what you are missing. Since everyone who has an account at a NYSE firm is free to leave each firm at anytime, there are logical reasons so much money stays at NYSE firms.

Full service brokers, and that is who i assume you are talking about, are probably great for some people. I never tried one. I like investing too much and would be at odds with someone trying to give me advice. But I am the first to admit that it is like a second job. Esp. when the net worth gets up there, it takes a lot of attention. I can appreciate how most people would choose to delegate that.

Ghost of Igloi wrote:

high net worth wrote:

bonds are not hat complicated but I never saw the point. The returns are too low and i was doing well without them.

But honestly, they were just a bit more involved than i wanted or saw necessary.

During the years referenced, we (wife and I, joint accounts) did great. Picked the right stocks and rode them up, good mutual funds invested in through work to max. allowed, with company match, 403 B limits very high btw(!), and many of them were index funds, especially S&P 500.

Thanks for asking.

That is truly amazing, especially with no bonds since stocks were flat 2000-2013.

Igy, give the cherry picking a rest, will you? I don't care about the particular artificial windows (time frames) you create. This investing strategy has been quite profitable over the long term. You ---- slice---- and ----dice---- all you want. My investments are long term, thank you very much.

a foolish post wrote:

David Stockmkt wrote:

This is 100% accurate. Unless you are retarded, you will always do better investing in index funds, etc. from someplace like Vanguard than you will with a so called “full service” outfit. This is beyond debate.

I’m sure the ones suggesting otherwise are protecting their own. Ignore their selfish posts.

On one hand you stated you 100% agree with the poster to whom you are responding, then you destroyed NYSE firms without evidence. The high net worth individual to whom you responded never stated he had accounts at a NYSE firm. Neither of you truly now what you are missing. Since everyone who has an account at a NYSE firm is free to leave each firm at anytime, there are logical reasons so much money stays at NYSE firms.

Of course I agreed with the poster. He’s right!

Meanwhile you chastise me for not providing evidence while you do the same. I’m guessing this isn’t the first time you’ve been called a hypocrite.

By the way, the evidence you seek is a simple google search away. Do your homework.

OK. Check in with us a year from now updating your investment returns. Bull markets make geniuses and bear markets humility.