401K ala Covid
09-21-2020 | 08:46 PM
#12
Gets Everyday Off
Joined: Aug 2016
Posts: 6,995
Likes: 1
From: Fully Retired
Sir John Templeton said a bull market is built on climbing a wall of worry. This is a perfect example. People on the sidelines who eventually will get into the market, propelling it up. I’m not the expert, he was.
09-25-2020 | 12:53 PM
#13
Gets Weekends Off
Joined: Nov 2017
Posts: 350
Likes: 0
I don’t usually react to noise and turbulence in the markets, but this morning I finally had my Sell Mortimer Sell moment. I’m out and sitting in cash at least through the election and possibly all the way to the inauguration at this point. Just too many outside forces acting on the market and I just can’t justify letting it ride this time. Even if we get a quick SnapBack, I’m alright with just sitting on the sidelines for a little while and see where this all goes.
09-25-2020 | 05:52 PM
#14
Line Holder
Joined: Sep 2015
Posts: 310
Likes: 13
and a day like today is a reason why very, very few can outperform the market by timing it based on gut feeling. Neighbor pilot was convinced in Mid March that the S&P would hit 1,100 and went to all cash. It’s now 3,300. He’s now borderline suicidal as he’s said he could nearly retire if he just kept to his long term buy, hold, and readjust thesis ala Warren Buffett who he is a huge fan of. He said it just didn’t make sense and panicked. “IF” the market drops 10-15% and your time horizon is at least 10 years, then be glad you can buy more at lower levels. If you go all cash now and the market slowly moves up over the next few years never dropping more than a couple percent, then what? Get back in based on gut feeling. That’s a way to lose.
09-26-2020 | 09:15 AM
#15
Gets Weekends Off
Joined: Oct 2017
Posts: 3,457
Likes: 26
I can’t believe the email that the company just put out!!! Maybe we should go with the concession they are offering or some of us are going to be screwed! At least they were able to put together a video with a good explanation on it.
https://youtu.be/dQw4w9WgXcQ
https://youtu.be/dQw4w9WgXcQ
09-26-2020 | 09:19 AM
#16
Gets Weekends Off
Joined: Dec 2017
Posts: 381
Likes: 0
I can’t believe the email that the company just put out!!! Maybe we should go with the concession they are offering or some of us are going to be screwed! At least they were able to put together a video with a good explanation on it.
https://youtu.be/dQw4w9WgXcQ
https://youtu.be/dQw4w9WgXcQ
That Rick Rolled thing might have been funny....30 years ago.
09-26-2020 | 09:30 AM
#17
Gets Weekends Off
Joined: Oct 2017
Posts: 3,457
Likes: 26
09-26-2020 | 03:34 PM
#18
That/It/Thang
Joined: Aug 2020
Posts: 3,468
Likes: 287
and a day like today is a reason why very, very few can outperform the market by timing it based on gut feeling. Neighbor pilot was convinced in Mid March that the S&P would hit 1,100 and went to all cash. It’s now 3,300. He’s now borderline suicidal as he’s said he could nearly retire if he just kept to his long term buy, hold, and readjust thesis ala Warren Buffett who he is a huge fan of. He said it just didn’t make sense and panicked. “IF” the market drops 10-15% and your time horizon is at least 10 years, then be glad you can buy more at lower levels. If you go all cash now and the market slowly moves up over the next few years never dropping more than a couple percent, then what? Get back in based on gut feeling. That’s a way to lose.
09-26-2020 | 03:39 PM
#19
Gets Weekends Off
Joined: Oct 2006
Posts: 3,655
Likes: 301
I have never understood the idea of someone, who is 20+ years from retirement, wanting their 401k and the market to continue to increase without corrections. You are investing "X" in every paycheck, and not selling it for 20+ years. Why would you want the price of the stock to continue to rise, lowering your buying power, resulting in less shares to sell when you are ready to retire. Dollar cost averaging is what makes long term investing so beneficial, buy the highs, buy the lows, jut keep buying.
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