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HUGE sell off today!

Home The Lounge HUGE sell off today!

  • Avatar EntrepreneurMD 
    Participant
    Status: Physician
    Posts: 407
    Joined: 06/10/2019

    In before EnterpriseMD comes in to tell us all how last night he predicted that today would happen.

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    Now that’s ridiculous.

    You specifically chose me (or my twin, Enterprise) because you know I predicted today ages ago, although yes I was screaming about this carnage yesterday in my posts.

    Thanks for the acknowledgement by you, and all that liked. You’re all too kind.

    #238988 Reply
    Lordosis Lordosis 
    Participant
    Status: Physician
    Posts: 2222
    Joined: 02/11/2019

    The best possible scenario for me is for the market to take a huge dump and gave a very prolonged recovery over the next few decades.
    However if the market turns it around and keeps cranking higher for a few more years I would be happy as well.

    EntrepreneurMD you keep making the prediction that the market is going to crash between tomorrow and 2021. How is that useful? If it is tomorrow you guessed right. If it is not anytime soon your prediction will be long forgotten and no one would care. Soon and gloom gets attention. Just like in the media.

    “Never let your sense of morals prevent you from doing what is right.”

    #238990 Reply
    jfoxcpacfp jfoxcpacfp 
    Moderator
    Status: Financial Advisor, Accountant, Small Business Owner
    Posts: 8366
    Joined: 01/09/2016

    I

    It’s just because I bought $100K of stock yesterday. Never fails.

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    please announce your future purchases from here on so I can time my TLH with your buying

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    I actually put the order in the day before, but after 4 pm. I could have given you lots of notice. But buying when I have the money has served me well over the years, so I just keep doing it. While I would have been better off buying today than yesterday, I’m quite confident I’ll be up from the purchase price when I spend the money in a few decades.

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    THIS is the most important and relevant comment on this thread. And the “been better off” reference implies a one-time transaction, not the behavior over a lifetime of saving/investing.

    Johanna Fox Turner, CPA, CFP: I am not your financial advisor; any responses are for general purposes only
    http://www.fox-cpas.com/for-doctors-only ~ [email protected]

    #238998 Reply
    Avatar G 
    Participant
    Status: Physician, Small Business Owner
    Posts: 1905
    Joined: 01/08/2016
    although yes I was screaming about this carnage yesterday in my posts.

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    actually, you were predicting it last week.  carnage at the open.  you know, the day that the market opened up and ended up?

    give me a break.

    Avatar Dusn 
    Participant
    Status: Physician
    Posts: 199
    Joined: 01/02/2018

    Heading towards a recession with astronomical levels of national debt is not my idea of fun.

    #239003 Reply
    CordMcNally CordMcNally 
    Participant
    Status: Physician
    Posts: 3073
    Joined: 01/03/2017
    You specifically chose me (or my twin, Enterprise) because you know I predicted today ages ago, although yes I was screaming about this carnage yesterday in my posts.

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    I’m pretty sure the last prediction you made (which, if I recall, you said was a sure thing because of how good you had gotten at market timing) said that the next day the market would be down 100-200 points at some point, most likely at the open. You were so sure of it that you said you would renounce your market timing tendencies if you were wrong. If I remember correctly, the market stayed positive from start to finish and ended up several hundred points higher. You did come back and say that you were wrong, albeit, very tongue-in-cheekish. You learned nothing while the posters on this forum learned plenty about you.

    “But investing isn’t about beating others at their game. It’s about controlling yourself at your own game.”
    ― Benjamin Graham, The Intelligent Investor

    #239005 Reply
    jfoxcpacfp jfoxcpacfp 
    Moderator
    Status: Financial Advisor, Accountant, Small Business Owner
    Posts: 8366
    Joined: 01/09/2016

    In before EnterpriseMD comes in to tell us all how last night he predicted that today would happen.

    Click to expand…

    Now that’s ridiculous.

    You specifically chose me (or my twin, Enterprise) because you know I predicted today ages ago, although yes I was screaming about this carnage yesterday in my posts.

    Click to expand…

    EMD, I happen to like you and respect your accomplishments. However, and again with all due respect, saying that “I predicted today ages ago” is contradictory and self-defeating. Anybody could do that. You can’t have it both ways.

    Johanna Fox Turner, CPA, CFP: I am not your financial advisor; any responses are for general purposes only
    http://www.fox-cpas.com/for-doctors-only ~ [email protected]

    #239006 Reply
    Liked by angeladiaz99
    fatlittlepig fatlittlepig 
    Participant
    Status: Physician
    Posts: 1313
    Joined: 01/26/2017

    LOL, I don’t have anything else to add (for once)

    #239011 Reply
    Liked by Tangler, MPMD, Lordosis, Tim
    Avatar Ghetto 
    Participant
    Status: Physician
    Posts: 126
    Joined: 08/13/2017

    Heading towards a recession with astronomical levels of national debt is not my idea of fun.

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    Where is Crixus when you need him???

    #239016 Reply
    Avatar Larry Ragman 
    Participant
    Status: Other Professional
    Posts: 639
    Joined: 08/30/2018
    Earnest refinancing bonus

    Heading towards a recession with astronomical levels of national debt is not my idea of fun.

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    Where is Crixus when you need him???

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    WCI banned him a few months ago for sock puppeting.

    #239018 Reply
    CM CM 
    Participant
    Status: Physician
    Posts: 1210
    Joined: 01/14/2017

    Heading towards a recession with astronomical levels of national debt is not my idea of fun.

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    The next recession will trigger massive deficit spending. The current debt/GDP will seem conservative by the time we recover.

    Erstwhile Dance Theatre of Dayton performer cum bellhop. Carried bags for Cyd Charisse (gracious). Hosted epic company parties after Friday night rehearsals.

    #239019 Reply
    Liked by Dusn
    Avatar EntrepreneurMD 
    Participant
    Status: Physician
    Posts: 407
    Joined: 06/10/2019

    In before EnterpriseMD comes in to tell us all how last night he predicted that today would happen.

    Click to expand…

    Now that’s ridiculous.

    You specifically chose me (or my twin, Enterprise) because you know I predicted today ages ago, although yes I was screaming about this carnage yesterday in my posts.

    Click to expand…

    EMD, I happen to like you and respect your accomplishments. However, and again with all due respect, saying that “I predicted today ages ago” is contradictory and self-defeating. Anybody could do that. You can’t have it both ways.

    Click to expand…

    Hi Johanna,

    I was responding to a sarcastic comment about me predicting today’s market activity yesterday with a follow-up sarcastic remark, but with some truth behind it as well.

    The point behind my remark is not my prediction of today literally, but my acknowledgement of the probable end of a bull market back to the CYAI days when I noted my hesitance to invest my reserves in the market, and to have made recent investment into commercial real estate instead. I moved in two years ago, subsequently the markets have been essentially flat for about 18 months now. In spite of the criticism of the large CD holdings, the reality is if I had put those holdings in the markets I would have less today than I started with, and would be worrying about all the current market turmoil.

    Clearly recent data shows world economies (and markets) are at risk. I was merely pointing out in general that buying on the dips now is not worthwhile because you will likely ultimately wind up with investment shares that are cheaper than today after the next recession, even with a typical melt up in the interim if that even happens. I don’t think I’m trying to have it both ways. I am not predicting the markets will just double from here.

    Without some sort of basic market understanding, you can’t make educated decisions. It’s becoming increasingly likely that I have been selling into high markets, rather than buying on a dip that’s likely going to be proven, in hindsight, to be buying high. It’s that faith in myself that has gotten me to this point, it’s been working for me.

    “Anybody could do that.” Yes, if people are going to buy or sell stocks or mutual funds they should continuously grow their fund of knowledge so that poorly timed purchases and sales are minimized in times like this. How can these sites make us better investors if we are stagnant?

    In reality, only time will tell. Hope to be continually accused of getting lucky.

    #239032 Reply
    Liked by Jack_Sparrow
    fatlittlepig fatlittlepig 
    Participant
    Status: Physician
    Posts: 1313
    Joined: 01/26/2017

    After a while (actually a long time ago) the false modesty mixed with arrogance gets old… Fatlittlepig will refrain from commenting further.

    #239034 Reply
    Avatar StarTrekDoc 
    Participant
    Status: Physician
    Posts: 2150
    Joined: 01/15/2017

    Oh now I get it. People try to mask their admiration with criticism, skepticism, you name it:)

    Now that admiration has upgraded me from Entrepreneur  to Enterprise level!!! Yeah!!

    Trying so hard to be wrong about the bull/bear market cycle, I’m failing at this miserably. What a failure I am.

    Thanks Hiking!

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    Haha! Sorry I got your name wrong, not sure why I typed Enterprise, maybe I had Star Trek on my mind…

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    You rang 😉   Picard says ‘Make it so’

    #239060 Reply
    Liked by ENT Doc, Tangler
    xraygoggles xraygoggles 
    Participant
    Status: Physician
    Posts: 113
    Joined: 10/26/2018

    I just put in an order for a large lump sum 401k investment to max out my yearly 55k contribution, should go into effect in a day or two. Maybe I should have stuck with average contributions monthly? Oh well.

    Btw, why does every single post nowadays ultimately end up with snarky comments to EMD followed by a very lengthy and hard to decipher comment by the man himself? Like clockwork.

    #239066 Reply

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