Investing General Discussion

This is definitely one of the steepest drops in the market over such a short time span. Probably not a good sign that we pull out of it.

Sanrith Descartes said:

Boomers running for the safety of shit they know. Gold and cash.

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Yeah kind of surprised it took this long. Seen several people ask the last week on other boards should they stop contribuiting to their 401k.

Captain Suave said:

Christ. This is not what I wanted when I'm trying to buy a house.

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Offers due today on what would have been the perfect house. RIP fantasy.

My private investments have been in total 100% hold on and see what happens since the 1st. Not my doing but I can only invest when a private company wants an investment....

Warmed up, think I'll go out and smoke a cigar and watch as usual.

Captain Suave said:

Offers due today on what would have been the perfect house. RIP fantasy.

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Are you implying the cash you needed on a house deposit in the immediate future was out there in the stock market?

That's not really ever a wise choice.

Borzak said:

Yeah kind of surprised it took this long. Seen several people ask the last week on other boards should they stop contribuiting to their 401k.

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That's always funny to me.

What other item do people purchase that when the price falls, they say "woah, maybe I should stop buying this." Much better to buy when it's at the highest price it's ever been!

Now, retirees asset balancing out of stocks, sure, because you're not contributing anymore and want to hold onto a higher value. But people still accumulating? That's backwards thinking.

Jysin said:

Are you implying the cash you needed on a house deposit in the immediate future was out there in the stock market?

That's not really ever a wise choice.

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There's always a transition point where you go from not expecting to buy a house to expecting. This was that point. Just bad timing. I also dislike debt so I'd be going heavy on equity, and it would have been dumb to leave multi-six figures sitting in cash for months at a time, especially up until this month. If the market continues like this and stays down I just won't buy and life will move on.

We're finally in correction territory. 8% more and we're officially in a bear.

Gravel said:

That's always funny to me.

What other item do people purchase that when the price falls, they say "woah, maybe I should stop buying this." Much better to buy when it's at the highest price it's ever been!

Now, retirees asset balancing out of stocks, sure, because you're not contributing anymore and want to hold onto a higher value. But people still accumulating? That's backwards thinking.

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I guess "some" people do it out of semi panic thinking that gold will hold value even in a large downturn more than stocks. Which as you pointed out why if you wanted to hedge not hedge when you could buy it cheap if your plan is for it to go up in a downturn. I don't know either. Of course it's also advertised in a lot of ways to be the savior when the bottom falls totally out so who knows what people do or why.