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I enjoy watching financial media too. It's a very dangerous past-time right now.
Some fool is going to say something contradictory every 15 minutes for shock value. Don't let any shock pieces make your decisions. Don't let anyone scare you into making rash decisions. YOU maintain charge of your emotions. That's why you have to have a plan. But remember Mike Tyson's famous quote. "Everybody has a plan until you get punched in the mouth". It's really true. I certainly won't get this perfect either. I don't have to. I type a lot of this stuff repeatedly. Partially because I need to remind myself.
Tell me what has actually changed since we were at all-time highs last week? The market will remain too liquid. The only difference is the flu scare. That can definitely peel a few percentage points of growth off the next few quarters in a lot of sectors. It sure won't be like last year when corporate profits soared. Oh wait, that didn't happen. Earnings and revs were actually pretty flat and sometimes down. That's why the market was so terrible last year. Oh wait, that didn't happen either did it? Don't expect the market to be rational in the short-term. It rarely is. This is an election year. Thankfully we aren't at zero rates yet. The bear will come and those who are still working can invest through it. I miss that. Now I have to keep dry powder ready. Cash, and stocks like my overweight Utes. Those can be converted to shares of $100 AAPL or $500 AMZN if that makes sense. No that is not my prediction but I hope you get the point. It's all about the plan. It's highly likely you will face the bear at least twice before you retire. If you are smart, and I'm confident you are, it will be easier each time. Maybe we get lucky and we are chasing new highs by summer. You get yourself in shape for the big one. We know it's coming some year soon. I can't emphasize enough how much more pleasant it is if you can do some shopping while others are terrified and cashing out and making the deals even better.
I know you watch the other thread. If you see me chasing falling knives that will likely be left behind when/if the market rebounds soon please call me out. It's so tempting and about the opposite of what I should do. That was a not so stealth way of telling you to stop buying XOM. You have to be overweight by now and you have no idea where the new bottom will be. You are seriously giving me flashbacks of myself doubling and tripling down on CSCO, MSFT and INTC as they fell from glory 20 years ago. I'm honestly not trying to embarrass you on a public forum. Been there, done that. and waiting a decade to get back to even is not a sound investing strategy. The opportunity cost is enormous.
I enjoy watching financial media too. It's a very dangerous past-time right now.
Some fool is going to say something contradictory every 15 minutes for shock value. Don't let any shock pieces make your decisions. Don't let anyone scare you into making rash decisions. YOU maintain charge of your emotions. That's why you have to have a plan. But remember Mike Tyson's famous quote. "Everybody has a plan until you get punched in the mouth". It's really true. I certainly won't get this perfect either. I don't have to. I type a lot of this stuff repeatedly. Partially because I need to remind myself. Tell me what has actually changed since we were at all-time highs last week? The market will remain too liquid. The only difference is the flu scare. That can definitely peel a few percentage points of growth off the next few quarters in a lot of sectors. It sure won't be like last year when corporate profits soared. Oh wait, that didn't happen. Earnings and revs were actually pretty flat and sometimes down. That's why the market was so terrible last year. Oh wait, that didn't happen either did it? Don't expect the market to be rational in the short-term. It rarely is. This is an election year. Thankfully we aren't at zero rates yet. The bear will come and those who are still working can invest through it. I miss that. Now I have to keep dry powder ready. Cash, and stocks like my overweight Utes. Those can be converted to shares of $100 AAPL or $500 AMZN if that makes sense. No that is not my prediction but I hope you get the point. It's all about the plan. It's highly likely you will face the bear at least twice before you retire. If you are smart, and I'm confident you are, it will be easier each time. Maybe we get lucky and we are chasing new highs by summer. You get yourself in shape for the big one. We know it's coming some year soon. I can't emphasize enough how much more pleasant it is if you can do some shopping while others are terrified and cashing out and making the deals even better.
I know you watch the other thread. If you see me chasing falling knives that will likely be left behind when/if the market rebounds soon please call me out. It's so tempting and about the opposite of what I should do. That was a not so stealth way of telling you to stop buying XOM. You have to be overweight by now and you have no idea where the new bottom will be. You are seriously giving me flashbacks of myself doubling and tripling down on CSCO, MSFT and INTC as they fell from glory 20 years ago. I'm honestly not trying to embarrass you on a public forum. Been there, done that. and waiting a decade to get back to even is not a sound investing strategy. The opportunity cost is enormous.