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Old 08-18-2020, 04:35 PM   #166
Marcus
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Re: Some Thoughts on Financial Survival

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Originally Posted by North Star View Post
Stocks hit record high, eclipsing pre-coronavirus peaks

https://www.foxbusiness.com/markets/...ks-aug-18-2020
There's only one problem, it's a house of cards built by the Fed Reserve. They can turn the spigot off at anytime hence collapsing the house. They've done this before. It is their agenda.
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Old 08-18-2020, 10:17 PM   #167
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Re: Some Thoughts on Financial Survival

...My instinct says a downside correction is due, with stocks going down for awhile, perhaps, even crashing 50 to 80 percent unless a virus cure miracle appears soon..This high is based on optimism and hope, when most companies are not making a profit and are burning thru cash reserves...Who is going to bail out the government when the national debt causes a loss of faith in the American dollar and they can't print any more trillions of unbacked currency?....God help the next President, who will inherit this mess....
...I am considering selling half of my stocks (so far, all four bought early on, went up and they still have a "buy" rating for each from the so-called experts(who often play the pump up the price and dump game) plus sell half of mine that were owned before the pandemic..The choice now, is continue a Las Vegas gamble based on luck or sell and take a profit, then, wait for the next opportunity...In uncertain times, cash on hand is always KING...
...Greed is good...until, it isn't.....The positive side is that you may soon be able to buy boats at bargain basement prices....
...My old timer hero is Warren Buffett..He is currently dumping a good part of his stock portfolio in banks, oil, all four airlines, etc....something to seriously consider as you try to plan for the coming months......or, just hold long term and hope for the best....right now, best looks to be about 2024 or later...

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Old 08-19-2020, 11:54 AM   #168
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Re: Some Thoughts on Financial Survival

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Originally Posted by Bob Ballew View Post
...My old timer hero is Warren Buffett..He is currently dumping a good part of his stock portfolio in banks, oil, all four airlines, etc....something to seriously consider as you try to plan for the coming months......or, just hold long term and hope for the best....right now, best looks to be about 2024 or later...
fyi...Buffet announced that he just made more than a half billion into Barrick Gold major miner.
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― Frederic Bastiat, The Law
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Old 08-19-2020, 12:18 PM   #169
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Re: Some Thoughts on Financial Survival

...Changing times,,,rapid changes...He also said that gold has no real value, as, " It just sits there and looks at you"...I may take a shot at 3-D printers....Long term, it should be a winner...check out DDD...

some good news: due to the shortage in coins, kids are now accepting dollars from the tooth fairy..
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Old 08-19-2020, 01:56 PM   #170
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Re: Some Thoughts on Financial Survival

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Who is gong to bail out the government when the national debt causes a loss of faith in the American dollar and they can't print any more trillions of unbacked currency?
Actually this sets up a great scenario vs. China. They can sell us discounted goods (with free shipping subsidized by the US BTW) at 25% prices of a US produced product with their slave labor and zero quality oversight (think Lithium batteries and the Conception).
When the USD goes to .1% of face value, however, they're gonna be burning franklins for heat...
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Old 09-09-2020, 11:30 PM   #171
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Re: Some Thoughts on Financial Survival

...One thing is certain, trying to time the ups and downs of the market is a losing game..most people sell on panic and are sitting on the sidelines when the market takes off..Others buy just before the market corrects and they lose money for a year or perhaps more, before things turn around..
..Weighting the risks,I am doing the following: tracking certain stocks daily, placing buy orders at market lows and buying more if the market goes down even more...it is called dollar cost averaging and over time, it usually rewards well, as you are in play thru out the game while others are watching from the sidelines...At minimum,averaging has rewarded investors with at least a 10% return over the long haul. Life is always a risk...no risk, no reward..

Tip: do all your investing thru a Roth IRA account at an online stock brokerage firm that doesn't charge buy and sell fees. You can trade all you want at no cost and when you sell to draw the money out on retirement, profits are tax free...not a bad deal when most investments involve taxation of some kind..We trade thru T.D. Ameritrade at no cost...Wealth is usually built one of three ways: start a business that generates cash flow, buy stocks that pay dividends and buy rental real estate that generates cash flow...none of this is taught in schools..you have to teach yourself...

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Old 09-16-2020, 04:15 PM   #172
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Re: Some Thoughts on Financial Survival

Bob, I appreciate your fish and financial wisdom. It is inspiring. Right now I'm tied up in index funds but some day I'd like to have more control over my assets. It however, feels like a rather steep learning curve and hazardous one when in comes to investments.
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Old 09-18-2020, 12:49 AM   #173
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Re: Some Thoughts on Financial Survival

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Originally Posted by Bob Ballew View Post
...Changing times,,,rapid changes...He also said that gold has no real value, as, " It just sits there and looks at you"...I may take a shot at 3-D printers....Long term, it should be a winner...check out DDD...

some good news: due to the shortage in coins, kids are now accepting dollars from the tooth fairy..
Just an interesting observation regarding the 3D printers.
A year or two ago at the big dental convention in Anaheim almost every booth had 3D printers and the software that drove it.
In dentistry they are printing models, dentures, ortho appliances ( especially this since Invisalign's patents are expiring)

You might be on to something Bob
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Old 10-07-2020, 02:22 PM   #174
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Re: Some Thoughts on Financial Survival

I have been doing a modified Dave Ramsey plan for a few years.I use my credit cards for points and keeping track of spending.
Took most of my money out of the market.I don't have any debt but a very small mortgage and I have the cash to pay it off.Interest rate is low so I use my money to make money when I can.No car,boat or bike payments either.Sucks when your relatives or friends are cruising around in new vehicles with that fresh leather smell but sleeping in because I can feels pretty good too.
PMs went crazy so Im not buying now.Same with guns.
My brother in law told his new girlfriend when things go bad they should go to my house.If you are over 30 years old and live in a Hurricane zone or have harsh winters and don't have supplies you are a problem not an asset and not welcome unless you have breasts.I will make exceptions for breasts.Wife didn't like the remark but I made my point.
Dave Ramsey plan is simple.Dont spend more than you make,Dont waste money with credit card interest and don't buy anything but what you NEED to survive until you have cash,food,housing,vehicles taken care of.Then reward yourself with something nice with CASH after achieving your goal.Then set more goals.Once my remodel is done on the house I may get a nice dive watch.Probably not a Rolex or Tudor though.
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