Activity Feed › Discussion Forums › Business, Finance & Legal › Investments, IRA’s, 401’s etc.
I’m retired and 70 now so I’ll trace the paper trail from when I was 20:
- 20-25 was living from paycheck to paycheck and spent any surplus on hookers nice cars and beer.
- 25-35 got much better jobs with pension plans and agressivly socked spare dough into high risk stock market plays.
- 35-45 stock market bounced around and I was always on the wrong end so lost nearly all my dough.
- 45-65 hooked up with an outfit with an amazing pension plan, hired an advisor who put 25% of my wages into an IRA, annuities and conservative bonds, no stocks. Lost a sh*tpile as the market soared, but there was no risk if the market tanked.
- 65-present Living off SS and the pension, with the annuities coming due in a staggered fashion over the next five years. I’ll die before I can spend all my money.
I now have zero interest in what the stock market does, and even the bond market. Inflation is not a concern because my major income streams are inflation adjusted. I’m happy but sad I didn’t figure it out as a younger man.
@jim-frame
Did my undergrad at CU. Loved it! Michigan’s just cold. Boulder’s cold, but at least you can go skiing. ????
A family member got his PhD in math and went straight to Wall St and the world of hedge funds. He’s done exceptionally well financially. But from what I hear it’s not a nice world.
- Posted by: @flga
Some people I know with weighty portfolios have already liquidated everything even though it has tremendous tax consequences attached.
I had to laugh cause investment advice in Florida reminds me of this movie
https://youtu.be/VosZzVlqxTg?t=17
I would guess that as long as the folks over at the FRBNY don’t start sneezing, or calling in sick, you’re gonna’ be alright.
- Posted by: @james-fleming
when Peter Lynch managed the Fidelity Magellan fund from 1977 until 1990 it averaged a 29.2% annual return
Posted by: @norman-oklahomamutual fund manager … the fact is that the next pick is just another flip of the coin.
Lynch had some luck in noticing companies that grew rapidly, but a big part of his success was working at watching what was going on at the business operation and product level and not just looking at only graphs, earnings “guidance”, and today’s headline. In some ways his approach resembled Warren Buffett.
. - Posted by: @norman-oklahoma
2. A large percentage of the money the investment banks/brokerages make are commissions on sales to “the little guy”. Therefore, the salesman/brokers are encouraged to churn accounts.
That is true of a lot of money managers who get commissions. Avoid them and use a flat-percentage manager.
But there are several on-line brokerages an individual can use with very low trading fees, some even zero-cost trades. I wouldn’t be trading individual stocks if I had to pay the traditional commissions.
It does bother me that I don’t know how they are making money, other than on using any cash in that account.
. - Posted by: @am95405
Boulder’s cold, but at least you can go skiing.
My son is into hiking and climbing, so the Boulder option is awfully attractive to him. Michigan’s program is more prestigious, but Boulder is a shorter plane flight for us, so I’m kind of hoping he opts for it.
It could be said that he is also locking in the loss of potential gains, an average of 8% – 10% per year in the medium to long term, as well.
@mark-mayer
Looks like I might have been wrong Sunday night. But it would definitely seem to be too late to sell now. I still think that it will recover within a few weeks.
- Posted by: @bill93Posted by: @mark-mayer
Sit tight. It’s a variety of the flu and not much more. It is fatal in ~2% of cases, and I suspect most of those are elderly and infants.
True. The difference is the mortality rate is actually lower than most kinds of flu, but it is much more contagious due to a long incubation where people can pass it on before showing symptoms.
Seems I should have said SOME kinds. Seasonal flu varieties are being quoted at 0.1% in the news versus 2 to 3% for this one and much higher for a few.
It is quite worrisome that the recent California case can’t be traced to a contact. How many cases are incubating from contact with her source? How many contacts did she have before diagnosis?
. - Posted by: @norman-oklahoma
But it would definitely seem to be too late to sell now
I sure hope so, 1190 in one day. I dumped what little medical stock I had on Sunday night with sell orders for Monday morning. Glad I did.
@flga Now is the time to buy!
Contrarians rule!!!
@jim-frame take care. Your city seems to be the epicenter of the US virus developments.
.The Covid-19 case is in Sacramento, which is about 15 miles from me — the UC Davis Medical Center isn’t on the main campus here in Davis. But things are certainly getting interesting!
If China which is where it all started has started to recover after just 2 months, I would say this is the time to buy what Warren Buffet said he missed out like Google & Facebook or Tesla.
- Posted by: @bill93
But I’m not sure we’ve seen the bottom yet.
No one knows when the bottom will hit. If your broker tells you he knows when that will be then I would start looking for other brokers because he was not able to tell you when to sell but now he knows when the bottom will hit?
@jim-frame
Just heard on the local NPR a patient is being test for the virus in Belleville, IL about 10 miles from where I sleep and the town where SWMBO teaches. Belleville is about 10 miles SW of downtown StL.
Bottom fishing is risky business but it can sure pay off big time. As soon as some pharmaceutical corp. pops in with an antidote announcement that WORKS the market will change. We will need Bill93’s crystal ball to predict the timing, ????
Log in to reply.