[quote=spdrun]Personally, I’m hoping for another crash (at least in the stock market — since the property market in my region is still down where prices belong). I only trade short-term at this point, so it won’t hurt me much, but it would be a hell of an opportunity. I feel like I took advantage of 2008, but not ENOUGH advantage.
(They tend to happen once every 10-20 years, not necessarily once in a lifetime, so here’s hoping! And no, I don’t give a rat’s ass about people who are stupid enough to overleverage.)[/quote]
I hope you realize just how silly it comes across hoping for another “crash”. As to how much it will “hurt” you… you have no way of knowing how badly it would affect you.
I don’t think you quite understand the events that took place during this last financial crises. NO, that wasn’t a once every 10-20 year type thing. Yes, the stock market can take big dives but that wasn’t all that happened during this “Great Recession”. I suggest you take a closer and more in-depth look at the events that took place this last crash.
And hoping or wishing for something like that to happen again is just silly. Odds are if it did happen, it would affect many people in your life, your family’s life, your friends and neighbors. Job market, economy, financial system, your tenants, etc.
Even if your stock portfolio comes out ahead, no telling how much carnage it can cause in your personal or professional life. For example, I did well in the stock market during the meltdown (mainly because I was short selling the bond insurers and banks). However, I lost FAR more in my businesses with lost income due to the horrible economy, people losing jobs, etc.
It’s clear after that comment you don’t quite understand just how close we came to a meltdown. And financial meltdowns typically never work out that well for anyone.
[quote=AN]
this is coming from a guy who leveraged to get his 4 houses. Lets see… Economic crash causes stock to crash, your tenant looses their jobs, like in 2008, and they stop paying their rents. You still have to pay the mortgage while trying to get them evicted. When you got them evicted, you see that they just trashed your place and will cost you tens of thousands to repair. Yeah, that scenario sounds so desirable, just so you get pick up a few cheap stocks.[/quote]
I still don’t know the personalities on this board that well. Or their personal situations but yes, this example above is just one example of what could happen. Many people get cocky or too confident when things are rolling their way.
Wishing and hoping for a major systemic crash and meltdown so you can score some good stock entry points comes across as kind of silly to me. JMHO.
