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CoronitaParticipant[quote=ucodegen][quote=flu]Well, I guess the average person doesn’t understand when wall street stops investing in main street….Main street businesses go under, and then that 4-5% unemployment ends up being much worse… And for those folks that think things can’t possibly get worse, obviously they haven’t been financially decimated enough to understand.[/quote]
These days, wall street doesn’t invest, it speculates. It might be better if wall street left main street to the individual investors – your dividends might get juicier because the share price wouldn’t be priced so tight against yield.[/quote]Not completely true. For example, plenty of investment capital chasing startups and new tech, and yes jobs…So long as the economy is in a growth mindset. That, however, would change, if folks get their wish and the system collapses.
Then of course, there’s the other mind set, for which some of the alt-right thinks everything is rigged, and everything is a conspiracy, at which point those, folks tend to just stick their money in their mattress (so to speak)…And yet complain about how their money isn’t growing. Some of these were the same ones thinking real estate prices in coastal CA was going to fall an additional 50+% after they already fell 30-35% in some cases….Go figure.
CoronitaParticipantSo… I think I figured out a way to guaranteed a Hillary victory.
If I buy this right now…
http://www.ebay.com/itm/111117675438
It is currently $1335, but ebay is running a ebay Bucks 3x offer for the next 6 hours…Up to 8% off, or $100 max/per iterm…
So that’s like buying 1 ounce at $1235/ounce…
Spot price is like $1283 right now.
So almost $50 below spot…A maximum of $500 eBuys reward (5 ounces) per quarter…
Of course, if I were to do that, Hillary will win, and Gold prices tank. Because obviously, that’s exactly why my contrarian skill would do. lol.
CoronitaParticipant[quote=AN][quote=teaboy]Whhhhhhhhhhyyyyyyyy??????
Why did I sell everything on Friday?!!Perhaps I should market myself as a short-term contrarian indicator.
tb[/quote]LoL, I did the exact same thing. But look on the bright side, it might all come crashing down again if Trump win :-). At the very least, you’re not expose to any crazy swing.[/quote]
I wouldn’t feel bad about it. Any profit (as small as it is) is still better than a capital loss.
Besides, we don’t know if Hillary is definitely going to win. It would be a very rude awakening if the vote goes the way that BrExit went tomorrow. And we won’t know until tomorrow.
On the bright side, we’re only talking about a 2% difference between friday and today. Not completely earth shattering
CoronitaParticipant[quote=AN]flu, I think you’re making a big assumption. Keep in mind that most Americans don’t have that much saving. So, it’s unlikely they’ll have 401k/IRA much less 529. So, it’s not really ironic that they want to blow up Wall Street. They collapse Wall Street won’t hurt them much. They’re already hurt. It’s really important to step in their shoes and understand why they feel the way they do.
For my own selfishness, I don’t want anything to change, because I’m benefiting from it, just like you are. But I’m also fully aware of it not benefiting those who are on the bottom rung and sympathetic to why they’re upset, fed up, and just want to blow the shit up. It’s really the crony capitalism that people associate with Wall Street that they want to blow up, not really Wall Street itself. People are just fed up with all the lip service about crony capitalism, yet, neither party did much about it. If anything, Hillary will keep the ball rolling, which is why the hardcore Bernie and Trump supporters really hate her.
There will be main street without wall street, but there won’t be wall street without main street. Main street just will look very different without wall street.[/quote]
Well, I guess the average person doesn’t understand when wall street stops investing in main street….Main street businesses go under, and then that 4-5% unemployment ends up being much worse… And for those folks that think things can’t possibly get worse, obviously they haven’t been financially decimated enough to understand.
CoronitaParticipant[quote=AN][quote=flu]Dow futures up 220pts
S&P up 26ptsAnd all it took was the FBI excusing Hillary.
Anyone still think Wall Street would be ok with Trump?
What would be a total shock for the markets is if Trump still ends up winning…[/quote]I don’t think anyone thinks Wall Street would be OK w/ Trump. Not even Trump’s supporters. That’s the whole point. Trump supporter thinks the system (including Wall Street and the Media) is rigged against them. So, this would just confirm their thinking. As for why Wall Street wants Hillary, it’s all about the devil we know vs the devil we don’t. It’s all about uncertainty that spook Wall Street. Nothing new there.[/quote]
The irony is that if people REALLY hated wall street, they wouldn’t be so dependent on their 401ks, IRAs, Roths, 529’s, public pensions that invests in Wall Street instruments. Burning down the system is like burning your own house down that depends on the system…
Whether people want to admit it or not…
There is no main street without wall street.
And there is no wall street without main street.CoronitaParticipantDow futures up 220pts
S&P up 26ptsAnd all it took was the FBI excusing Hillary.
Anyone still think Wall Street would be ok with Trump?
What would be a total shock for the markets is if Trump still ends up winning…
CoronitaParticipantCome to think about it… the church/priest/whatever that came out and said voting for democrats is damning those people to hell… Didn’t they just violate what IRS Ruling 2007-41 said was prohibited?
http://www.christian-attorney.net/church_political_campaign_activity.html
CHURCHES POLITICAL CAMPAIGN ACTIVITY AND TAX EXEMPT STATUSPolitical activity by a Church can jeopardize its tax-exempt status under IRC § 501(c)(3).
Partisan Campaign Support or Opposition Prohibited:
A church, as a tax-exempt organization under Internal Revenue Code (“IRC”) § 501(c)(3), is absolutely prohibited from directly or indirectly participating or intervening in any political campaign in support or opposition to any candidate for elective public office. See Treasury Regulation §1.501(c)(3)—1(c)(3)(iii).
This prohibition applies to all national (federal), state, or local elective public office campaigns.
See IRS Revenue Ruling 2007-41 (provides concise summary of law, factors, and 21 situational factual examples covering a wide range of issues within this topic).
Note: A church pastor or minister may mention a candidate or a near future election but may not speak in favor of (or encourage the congregation to vote for or against) a particular candidate.
CoronitaParticipantJust pointing out the hypocrisy of some churches. I don’t quite see how a church/pastor/reverend what have you could say with a straight face that voting for one candidate over the other would damn someone to hell.
In fact, I find it interesting that a church would be partial and try to sway voter decision because of faith, commenting that one is actually “evil” while the other one, known women fondler, gets a free pass. Hence the snarky comment about sex offenders.
The church and the leaders should just STFU…Afterall, I thought that was part of the reason why we had seperation of church and state.
CoronitaParticipantHave you heard? If you vote for a Democrat , you are going to hell.
http://www.sandiegouniontribune.com/news/politics/sd-me-church-bulletin-20161102-story.html
Lol… I guess Catholic priests molesting little boys get a free pass to heaven as long as they pretend to repent.
CoronitaParticipantIt really depends on individual tolerances. Just pointing out, if you don’t like the rental pool and location, don’t do it. Not worth even bitching about it. Expecting others to change is an unrealistic expectation. The problem is most likely your expectations, not other people.
CoronitaParticipant[quote=HLS]Freedom of speech allows him to say whatever he wants.
However, the slightest hint of discrimination when
it comes to renting/selling property could cost him everything that he owns.I know he’s an expert in almost everything and would never pay anyone to do anything, so hearing what the judge would say about his
racism would be interesting (especially if it were a ‘Black’ or ‘Latino’ judge) when he represents himself.[/quote]Not exactly. In the age of social media, there is no such thing of freedom of speech, in practice. All it takes is one off color remark, reposted with a #YouAreScrewed hashtag, and then well, you have a very big PR nightmare.
If in doubt, ask former Clippers owner Donald Sterling.
CoronitaParticipantIn general, I have a rule of thumb.
If you can’t respect your customer, or can’t do business with your customer without feeling some sort of contempt for them, then you probably shouldn’t be doing that business, because you probably won’t be very successful in the long run.
In this particular case. If you really think the rental pool is “trash” and if “trash people” really bother you, well then you probably shouldn’t be doing this.
It won’t take much to push you over, or say something or do something to get in hot water.
Besides life is too short to spend your time dealing with people you don’t like. It’s not like you desperately need the extra income. Or get someone to do it so you aren’t so attached to it.
Can’t hate the ones that feeds you the income.
CoronitaParticipant[quote=teaboy]flu, thanks for sharing.
by “transaction costs” I meant the buy/sell spread. Per my understanding that’s the main “cost” when I’m buying/selling equities, and how the moneymakers make the bulk of their money. Pls correct me if i’m wrong.I’ve been sitting on my hands waiting to sell more, since I feel the only way is down (short term; 1-2 yrs) and we’re overdue a stock market correction and economic recession. But my main fear is that after selling I’ll be stressing every day on when to buy back and then will fail at that even if I sell at a reasonable good time.
I’m also thinking of selling my sfh in Poway since i’m sure housing cant keep going up once the recession bites. But I probably wont do anything about it.
tb[/quote]
The way I plan of getting back into the market is after November ( assuming a steep selloff)…. I plan on just monthly dripping back into index funds. I’ll be happy with a -3%+ correction from this point on. Maybe $5-10k per month, rather than trying to move the entire bulk of my funds in at one shot. That way, regardless of how the market always does, I’m forcing myself to reinvest. If those regular monthly purchases end up being at the wrong time, it will be less damaging that one big wrong time purchase.
I have no plans to sell any homes since I still need a place to live, and the others cash flow well, which would be part of my retirement “pension”
CoronitaParticipant[quote=teaboy][quote=flu]I’m out..Period. Of the remaining 10%, 5% is in physical metals.
[/quote]Flu, out of interest what % cash were you before you went 90%? I went from 100% equities to 50% cash / 50% equities (S&P500 ETF) about 3 months ago.
I have been considering selling some more equities to go 75% cash but that would require paying cgt (+ transaction costs) so i’ve been procrastinating.I’ve not had much luck with timing the market previously, so my default position is to stick to time in the market.
But, you’ve been fairly prescient in the past.Do I hold and risk regretting not selling or sell and risk regretting not holding?
in two minds,
tb[/quote]I was slightly less than 50% in the stock market already. The bulk of it was in index funds that tracked dow, s&p I’ve had for a very long time that I normally don’t touch.
I don’t know. Perhaps I am over reacting. Maybe by next Tuesday it won’t matter. I personally don’t think we will see too many more positive events for the rest of the year to push the markets higher. And any unexpected negative news I think will just be magnified. My transaction costs were $0 for index funds, and 9.95 from Schwab. So it wasn’t an issue. The only issue is I am locked out from.vuying back those index funds from the same account for the next 90days. There are ways around it though.
I did not touch my kids 529 account. It’s split equally 3 ways between domestic stock index, inflated protected short term bonds/treasuries, and international stock index
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