Sell

[Coronita]

[quote=svelte][quote=sdrealtor][quote=ltsddd]
Or how about the guy in San Diego who went from renter to owning multiple rentals in a span of a year or two. He was featured in the SD Union Tribune. I remember reading the articles about them and thought to myself, why wasn’t I as “smart” as they were. Just curious how it ended for them.[/quote]

Not sure if you are referencing them but a couple young guys were featured in the UT after opening a century 21 Brokerage in San Marcos. They got crushed though The main guy was able to hold onto some properties for several years avoiding foreclosure. Eventually he lost them but he lived mortgage free for years.[/quote]

Probably not who you’re talking about, but there was that kid (early 20s?) from Sacramento who drank the kool aid and bought rentals all over the country. I don’t think he owned more than 10 but it ended very poorly…if I’m not mistaken he used no-doc loans to get them. He started the website “iamfacingforeclosure” and when all the properties were gone he changed his name and went into real estate. His original name was Casey Serin.

https://en.wikipedia.org/wiki/Casey_Serin%5B/quote%5D

In these bubbles, most of the people who drink the coolaid after the “investment advice* hit mainstream got burned. People and insiders who got in early and knew to get out without trying to figure out what the peak was did very well. Back at my old dot.com company, of my my directors for out at $325/share and went into bonds. and when the stock went to $400+ share he didn’t even blink, saying he always did well enough with his options and earned everyone not to be greedy. He was so right…

It’s really hard to digest. When you’re seeing gains after you sell, impulse is you sold at the wrong time….

[Coronita]

I’m curious what’s going to eventually happen with Barstool founder and his minions….

https://finance.yahoo.com/news/barstool-portnoy-reveals-personal-investment-211130483.html

Particular when days become “six figure loss days” lol

[an]

[quote=Coronita]Crash and burn. Dow down 600pts. heh heh.[/quote]
So, who’s buying more today?

[Coronita]

[quote=an][quote=Coronita]Crash and burn. Dow down 600pts. heh heh.[/quote]
So, who’s buying more today?[/quote]

I’m waiting and will buy a little here and there after a day or so. Edit, my buy order for Verizon executed.

Mainly buying it for the 4% dividend and imho better than ATT.

[The-Shoveler]

I may buy some more SPYD (yield is about 6% currently), if it goes down some over the next few days.

I think a rotation into value could start soon.

[ltsddd]

[quote=svelte]Probably not who you’re talking about, but there was that kid (early 20s?) from Sacramento who drank the kool aid and bought rentals all over the country. I don’t think he owned more than 10 but it ended very poorly…if I’m not mistaken he used no-doc loans to get them. He started the website “iamfacingforeclosure” and when all the properties were gone he changed his name and went into real estate. His original name was Casey Serin.

https://en.wikipedia.org/wiki/Casey_Serin%5B/quote%5D

That’s not it. The kid I am talking about is Japanese-American. He was around 15-16. On the cover of his book he’s looking smart in a dark suit.

The reason I brought him up is I remember I got a good chuckle when I read an article about him and his book. You didn’t have to be a genius to make money with semi-conductors and then with the telecoms and .com that followed. I was trying to draw the parallel between the stock picking “geniuses” during the tech-boom/dotcom to today’s robinhood crowd. It won’t end well for them.

[ltsddd]

[quote=an][quote=Coronita]Crash and burn. Dow down 600pts. heh heh.[/quote]
So, who’s buying more today?[/quote]

Not me. Nasdaq is back down to the level of about two weeks ago (Aug 25). I am going to sit tight.

[scaredyclassic]

the decline is a hoax perpetrated by antifa shortsellers; once they are taken into custody, the market will resume its normal trump-caused march ever higher.

[The-Shoveler]

I think the current Robinhood crowd ect… does have an advantage boomers did not during the 1999-2003 boom/bust as really big bubbles/crashes were not in recent memory as much as they are now.

So maybe they are better prepared than most think.

[Coronita]

[quote=The-Shoveler]I think the current Robinhood crowd ect… does have an advantage boomers did not during the 1999-2003 boom/bust as really big bubbles/crashes were not in recent memory as much as they are now.

So maybe they are better prepared than most think.[/quote]

Ha ha ha. Unlikely…. Number one reason people get burned? Greed and denial.

I think though this isn’t the big correction. I was checking some bay area companies that friends started or work at… out of 6 companies, 4 of them have filed to go public… So I think we are only in the second inning. All these companies will try to IPO over the next few months, and that in itself will drive another round of craziness.

[ltsddd]

[quote=Coronita][quote=The-Shoveler]I think the current Robinhood crowd ect… does have an advantage boomers did not during the 1999-2003 boom/bust as really big bubbles/crashes were not in recent memory as much as they are now.

So maybe they are better prepared than most think.[/quote]

Ha ha ha. Unlikely…. Number one reason people get burned? Greed and denial.

I think though this isn’t the big correction. I was checking some bay area companies that friends started or work at… out of 6 companies, 4 of them have filed to go public… So I think we are only in the second inning. All these companies will try to IPO over the next few months, and that in itself will drive another round of craziness.[/quote]

Or your friends’ companies are today’s version of pets dot com. Opportunists that took advantage of the feeding frenzy to cash in. That in itself may indicate the bust is around the corner.

Pets went from IPO at $11 to self liquidation in about 10 months.

[Coronita]

[quote=ltsddd][quote=Coronita][quote=The-Shoveler]I think the current Robinhood crowd ect… does have an advantage boomers did not during the 1999-2003 boom/bust as really big bubbles/crashes were not in recent memory as much as they are now.

So maybe they are better prepared than most think.[/quote]

Ha ha ha. Unlikely…. Number one reason people get burned? Greed and denial.

I think though this isn’t the big correction. I was checking some bay area companies that friends started or work at… out of 6 companies, 4 of them have filed to go public… So I think we are only in the second inning. All these companies will try to IPO over the next few months, and that in itself will drive another round of craziness.[/quote]

Or your friends’ companies are today’s version of pets dot com. Opportunists that took advantage of the feeding frenzy to cash in. That in itself may indicate the bust is around the corner.

Pets went from IPO at $11 to self liquidation in about 10 months.[/quote]

My dot.com company went from $300ish/share IPO to $450-500/share to $5-10/share in a year. It was a fun ride. Feel sorry for the retail speculators….
But you can’t fix stupid.

The new stupid is the Robinhood day traders…

You guys remember Peregrine Systems here locally in SD? Lololol

[sdrealtor]

[quote=sdrealtor]Dow up about 10% since this post. Nasdaq up closer to 20%. Like the say. Don’t drink the water in Mexico. Glad I didn’t

YTD trading portfolio not as good as Coronita. Up 30%.
YTD long term conservative dividend/total return portfolio. Up 8%[/quote]

Per Rich’s request Im updating. Its been a steady climb since last update in late August. I sold a bunch of things today in the trading account with goal to get to 30 to 40% cash by election. I think I may be catching up to Coronita a bit who sold last week.

YTD trading portfolio up 37%.
YTD long term conservative dividend/total return portfolio. Up 11%.
YTD combined up 16%

[Rich Toscano]

I definitely did not request that you post your personal investment returns here, just to be clear on that.

People kept posting their returns during a market meltup, so I asked if they’d keep doing that if OP was right and the market tanked. It was meant as friendly teasing, not a request. Also note: the market has not tanked.

[sdrealtor]

Understood. Im just updating and knew you were being tongue in check. Im starting to thin my positions to my core long term holdings so Im ready for the next buying opportunity so I’ll be ready if and when it tanks. Just documenting the path so I can back up claims or get roasted as time permits

[Author]

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