I'm starting to smell.....

[jawjateck]

.....some fear in the stock market. Down another 2.5% this morning. If we could get a little bit of panic, I would be all over it. I have my shopping list ready to pick up some bargains.

 

If the VIX hits 40ish, I'm buying. Who else is licking their chops?

[+ bigjoey]

.....some fear in the stock market. Down another 2.5% this morning. If we could get a little bit of panic, I would be all over it. I have my shopping list ready to pick up some bargains.

 

If the VIX hits 40ish, I'm buying. Who else is licking their chops?

 

I am looking at quality stocks with high yields. Apple easily comes to mind as paying more than government bonds (and stronger, too). Much of Apple's earnings come from services and not just selling phones.

[mattr]

I think we are approaching panic mode... The drop in Oil prices is a mixed bag for sure but other than the oil sector, the US economy still seems solid. I always keep some cash on the sidelines for a buying opportunity like this.

[jawjateck]

No down 3.5%. VIX up to 31. Yummy!

 

Just waiting for scaredy-cats to puke out those stocks, so I can buy 'em on the cheap.

[jackjackjack]

I say, " Hold on to your money." Cash is king for now and in the near and maybe distant future.

[Rudynate]

My financial advisor recommended I liquidate my position in Boeing and buy Amazon.

[jawjateck]

I say, " Hold on to your money." Cash is king for now and in the near and maybe distant future.

 

I'm with you on that. I'm not investing a single dollar in the market at this time. I'm looking to make a few short-term trades if we can squeeze out a panic bottom in the next day or so. Get a bounce, then sell those suckers. Pocket my profit.

[+ stevenkesslar]

To quote Jamie Dimon, directly from Davos, I just don't see how we're headed into a global recession, and I'd bet that we'll hit bottom sooner or later and by Election Day we'll all be breathing a sigh of relief, at least about the economy.

 

I just don't buy that cheap oil is bad. Dimon said consumers are spending 80 % of what they are saving on gas. That has to be helping the economy. The people who are saying cheap oil is bad probably also think cheap sex is bad. What kind of fool would think that?!

[craigville beach]

To quote Jamie Dimon, directly from Davos, I just don't see how we're headed into a global recession, and I'd bet that we'll hit bottom sooner or later and by Election Day we'll all be breathing a sigh of relief, at least about the economy.

 

I just don't buy that cheap oil is bad. Dimon said consumers are spending 80 % of what they are saving on gas. That has to be helping the economy. The people who are saying cheap oil is bad probably also think cheap sex is bad. What kind of fool would think that?!

 

with the average consumer having more cash available to spend, some could spill over to escort marketplace. LOL. I don't know if there is a relationship between the two but, it is fun to think there is.

[mattr]

To quote Jamie Dimon, directly from Davos, I just don't see how we're headed into a global recession, and I'd bet that we'll hit bottom sooner or later and by Election Day we'll all be breathing a sigh of relief, at least about the economy.

 

I just don't buy that cheap oil is bad. Dimon said consumers are spending 80 % of what they are saving on gas. That has to be helping the economy. The people who are saying cheap oil is bad probably also think cheap sex is bad. What kind of fool would think that?!

 

Cheap oil is bad for people working in the oil exploration industries (layoffs) and for companies who have positions in oil at much higher prices. It is also a potential problem for the banks that lent them the money to buy the oil. If those companies go bankrupt, the banks are left holding the bad loans similar to what happened during the mortgage crisis although at a much smaller scale. I think part of the sell off in the financial sector is an overreaction to this potential problem.

[jawjateck]

Just put a pot of coffee on....smells delish. I'm waiting to see what happens when the margin clerks start calling clients this afternoon. Forced liquidations....love it!

[+ stevenkesslar]

Just put a pot of coffee on....smells delish. I'm waiting to see what happens when the margin clerks start calling clients this afternoon. Forced liquidations....love it!

 

I didn't realize you were a sadist! Such provocative words from such a nice young man.

[jawjateck]

I didn't realize you were a sadist! Such provocative words from such a nice young man.

Wall Streeters are ruthless. I have simply learned how to play their game.

[+ stevenkesslar]

Cheap oil is bad for people working in the oil exploration industries (layoffs) and for companies who have positions in oil at much higher prices. It is also a potential problem for the banks that lent them the money to buy the oil. If those companies go bankrupt, the banks are left holding the bad loans similar to what happened during the mortgage crisis although at a much smaller scale. I think part of the sell off in the financial sector is an overreaction to this potential problem.

 

I saw a chart in TIME about census tracts in the US where average incomes have gone up or down in the last 5 years or so. The dark green areas, meaning those with the biggest (over 5 %) increases in median income were heavily concentrated in areas like North Dakota and West Texas. Clearly it had to be related to fracking and energy. I'm all for fracking, and its helped economies that were the "also rans" in the go go era of 2005 or so, but probably most of the US, where median incomes are flattish, is being helped by lower gas prices.

[jawjateck]

Just took off my trade on TWTR....nice! That was a sweet reversal from a new low back into the green on an ugly day. Might have to celebrate tonite.

[+ stevenkesslar]

with the average consumer having more cash available to spend, some could spill over to escort marketplace. LOL. I don't know if there is a relationship between the two but, it is fun to think there is.

 

Yeah, cheap oil probably primes the pump for more whoring.

 

I think the algorithm goes something like this. Oil price ($/barrel) / lube price (10 oz. bottle) - rubbers purchased (12 pack box) = increased sperm ejaculation x whore rate (average Rentmen $/hr). If the ratio is higher than 1.5 it means that people are spending at least 50 % of every $ saved on gas for escort cock.

[Frequentflier]

Like some others that posted in this thread, I heard Jamie Dimon this morning. Also heard Jack Bogle. Listening to both calmed my nerves While its human nature to avoid buying when the screen shows red, I buy index funds every time I see a big drop and let automatic dollar investing do some of the work (although I skipped a few this month as I heard many say there were bigger down days ahead). I too have a few (very few) individual stocks I've got on my shopping list (buy limit orders) at flash crash or lower prices. I like a reliable dividend and respective P/E ratios.

[jackjackjack]

'The global financial system has become dangerously unstable and faces an avalanche of bankruptcies that will test social and political stability, a leading monetary theorist has warned.

"The situation is worse than it was in 2007. Our macroeconomic ammunition to fight downturns is essentially all used up," said William White, the Swiss-based chairman of the OECD's review committee and former chief economist of the Bank for International Settlements (BIS).'

 

As you can see, there is not a consensus to the thinking below. We all make/have made our money in different ways....one being the market. I think everyone should invest at their own tolerance level. Just remember, when you invest, keep an open mind and don't let something sneak up on you and bite you in the ass..

 

To quote Jamie Dimon, directly from Davos, I just don't see how we're headed into a global recession, and I'd bet that we'll hit bottom sooner or later and by Election Day we'll all be breathing a sigh of relief, at least about the economy.

[+ stevenkesslar]

Like some others that posted in this thread, I heard Jamie Dimon this morning. Also heard Jack Bogle. Listening to both calmed my nerves While its human nature to avoid buying when the screen shows red, I buy index funds every time ...

 

I heard Bogle too and agree 1000 %.

 

To prove how stupid whores can be, I prevailed on multimillionaires clients for about a decade that I knew something about stock market timing. After about a decade of trial and error I was left with a net return of about zero. Which at least I could say was about the same as my rate of return on my index fund IRA for the same decade.

 

Meanwhile, I bought housing when I thought it was cheap, in a sort of dollar cost averagjng way, and in about 2012 or so I thought I was likely headed to foreclosure. Now I can look back and say I bought almost everything at about as close to the bottom as I possibly could have.

 

In 2014 I thought I'd try my hand one more time at active stock picking. I put $20,000 into Ameritrade and by Sept. 2014 I was riding about a $6,000 paper profit and thinking I was a genius. Then it started to collapse. The worst buy was EMES, a golden boy fracking stock selling at one point for $150 a share. I bought it for between $50 and $15 a share. Still, it had a guaranteed dividend of 10 % a year, so I thought, regardless of oil prices, how can I lose? Except then EMES started to lose money and the dividend went away. Today it went down by one third, from $3 a share to $2 a share. I'd suggest its a good buy, except I have no idea whether it will just end up in bankruptcy.

 

The $20,000 I invested in Jan 2014 is now worth $7,000. How dumb am I? Except that the real estate I own has gone up on paper way more than that in any one month alone since 2014.

 

My conclusion is that Elizabeth Warren is more or less right. These are all rigged games. I happened to know enough about housing to be able to know what looked like a bubble and what looked like a bust. Most people could not figure that out. With stocks, turns out I am as hopelessly stupid as just about everyone else.

 

Back to Bogle. At some point in 2014 when I was feeling like a genius I read one of his typical essays that said something like this. If you are an average saver, and think you can beat index funds, take a modest percentage of your assets, like $20,000, and try to beat the market. My guess is within 5 years 90 % of you will underperform the indexes. I had a funny feeling I was going to prove him right. Turns out so far that I an just as dumb as the average fool, both in terms of how much I'll risk, and how badly I'll do when I risk it.

 

As one of my escort buddies said, none of this adds up to very much in whore money. But it cements my lifetime conviction that anybody involved with stocks or mortgages is just as bad a whore as me, and probably worse. The only difference between them and me is they are even better at fucking people.

[bigvalboy]

I heard Bogle too and agree 1000 %.

 

To prove how stupid whores can be, I prevailed on multimillionaires clients for about a decade that I knew something about stock market timing. After about a decade of trial and error I was left with a net return of about zero. Which at least I could say was about the same as my rate of return on my index fund IRA for the same decade.

 

Meanwhile, I bought housing when I thought it was cheap, in a sort of dollar cost averagjng way, and in about 2012 or so I thought I was likely headed to foreclosure. Now I can look back and say I bought almost everything at about as close to the bottom as I possibly could have.

 

In 2014 I thought I'd try my hand one more time at active stock picking. I put $20,000 into Ameritrade and by Sept. 2014 I was riding about a $6,000 paper profit and thinking I was a genius. Then it started to collapse. The worst buy was EMES, a golden boy fracking stock selling at one point for $150 a share. I bought it for between $50 and $15 a share. Still, it had a guaranteed dividend of 10 % a year, so I thought, regardless of oil prices, how can I lose? Except then EMES started to lose money and the dividend went away. Today it went down by one third, from $3 a share to $2 a share. I'd suggest its a good buy, except I have no idea whether it will just end up in bankruptcy.

 

The $20,000 I invested in Jan 2014 is now worth $7,000. How dumb am I? Except that the real estate I own has gone up on paper way more than that in any one month alone since 2014.

 

My conclusion is that Elizabeth Warren is more or less right. These are all rigged games. I happened to know enough about housing to be able to know what looked like a bubble and what looked like a bust. Most people could not figure that out. With stocks, turns out I am as hopelessly stupid as just about everyone else.

 

Back to Bogle. At some point in 2014 when I was feeling like a genius I read one of his typical essays that said something like this. If you are an average saver, and think you can beat index funds, take a modest percentage of your assets, like $20,000, and try to beat the market. My guess is within 5 years 90 % of you will underperform the indexes. I had a funny feeling I was going to prove him right. Turns out so far that I an just as dumb as the average fool, both in terms of how much I'll risk, and how badly I'll do when I risk it.

 

As one of my escort buddies said, none of this adds up to very much in whore money. But it cements my lifetime conviction that anybody involved with stocks or mortgages is just as bad a whore as me, and probably worse. The only difference between them and me is they are even better at fucking people.

 

Love the post.

 

FWIW...If you have real estate, don't sell (ever)....If you are thinking about buying real estate, don't buy. Let the market correct itself first.

[jackjackjack]

With stocks, turns out I am as hopelessly stupid as just about everyone else.

.

Well, you're right. not everyone. haha. We've all made investments that we regret.

...or should have made and we didn't.

[jawjateck]

SK.....there's no question financial markets are rigged, and yes, it ticks me off, but I studied how they are rigged and use that info to profit. I prefer to profit from it more than I complain about it.

 

Oh and BVB, hope you will forgive me....I bought a property during the real estate crash of 2009, but am selling it now. 100% return, not too bad.

[+ FreshFluff]

.....some fear in the stock market. Down another 2.5% this morning. If we could get a little bit of panic, I would be all over it. I have my shopping list ready to pick up some bargains.

 

If the VIX hits 40ish, I'm buying. Who else is licking their chops?

 

So you think the high VIX indicates a false panic rather than a true correction and that the market will come back in the medium term (over the next year)? If that's true, I'm less confident. Over the weekend, I considered taking all my money out of equities. With issues the commodities markets as they are, I have a feeling that there's another 6 months to a year of this left

[bigvalboy]

SK.....there's no question financial markets are rigged, and yes, it ticks me off, but I studied how they are rigged and use that info to profit. I prefer to profit from it more than I complain about it.

 

Oh and BVB, hope you will forgive me....I bought a property during the real estate crash of 2009, but am selling it now. 100% return, not too bad.

 

There are exceptions to my rule.... Very few bought at the bottom of the market, so if selling makes sense for you now, by all means do it. But don't wait, I see a down turn coming, or at the very least little to no growth this year and next.

[+ dutchmuch]

I have certainly altered / cancelled my appointments schedule with masseurs...