Galt's Gulch

That worked out well...

Posted by $ Abaco 4 years, 8 months ago to Economics
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Now, I'm just watching the market tumble off the cliff with cash in hand. When the pseudo-government health authority tells you not to worry - start selling...
SOURCE URL: https://www.galtsgulchonline.com/posts/1068c0199/south-china-morning-post-coronavirus-overtakes-sars-60-million-chinese-in-chinese-cities-locked-down~4n6uctk7ajbutl23o7ibkvzbe4

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  • Posted by mccannon01 4 years, 8 months ago
    "... with cash in hand." Based on the link it looks like you bailed about six weeks ago so, depending on what equities you bailed from, you could be in better shape today because of it.

    IMHO the market in general was bubbled up some and due for a correction. Between this virus hype and the Russian/Saudi oil dance, the correction was faster and deeper than it should have been. I figure buying opportunities are coming soon, but being retired I don't play the market like I used to.
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    • Posted by $ Abaco 4 years, 8 months ago
      Yep. Six weeks ago when we are all sitting around watching the Trump hate news networks I was very interested in this virus now in the news and started really studying it a couple months back. I knew it was a doosy and then it happened...The WHO made the statement that this isn't a big deal. The WHO is a cesspool of scroad from my experience and I knew to pounce when the pouncing was good.

      Bought a couple calls on a pharmaceutical today. If it goes worthless I'll be fine. Still not buying equities again. Bought a little PCG because our governor is too busy with this crisis to continue to bash it in the news "profits are evil, you know". It's amazing to look at investing via political intelligence. And my intelligence is all public. You don't have to bribe a congressman (they're exempt from insider trading, by the way). You can just grab what's published and dig in. What fun...
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  • Posted by freedomforall 4 years, 8 months ago
    Have faith, Abaco. Wall Street will still make big profits on the volatility ... at our expense as looters often do when they can control the rigged game. There are still more fake-outs to come.
    The big bonuses will be announced, after the bail outs.
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    • Posted by Dobrien 4 years, 8 months ago
      As a stockbroker my income is currently nil. Never got a bonus and never will. I must be one stupid broker.
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      • Posted by $ Abaco 4 years, 8 months ago
        I was once a Series 7 and 66. Regulations ate up too much of my time.
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        • Posted by Dobrien 4 years, 8 months ago
          40 years and I should h@ve gotten out long ago.
          The paperwork , the bullshit Continuing Ed . the regulations , the broker dealers covering their asses . The guilty until proving yourself innocent compliance oversight, and zero assistance in getting new clients. Zero ability to advertise your services. Online trading after you give a prospect an investment opportunity. It Sucks.
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          • Posted by $ Abaco 4 years, 8 months ago
            I remember the moment I was studying for the 66 and, after reading all the compliance limitations on how many emails you can send out (and all that bull hockey), I thought "you can't actually run this business". Then, under Obama it got out of control. Things like "know your client" where you are responsible if your client repeatedly refuses to cooperate with yet another form to be filled out. It was a joke. I'll never do it again. My old firm wants me back when I hang up this engineering position in a couple years. But, I'll only do analysis on the buy/sell stuff for portfolio support. No more of that crap I had to deal with just for the right of interfacing with the public. They've stymied the industry and now your average Joe investor wonders why his advisor never calls back...
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  • Posted by $ Stormi 4 years, 8 months ago
    So many questions. Do they think we are stupid to fall for his whole country take down as a sudden crisis? Where is Soros, Obama, all teh usual players in this. Obama poised to put idiot wife on Biden ticket, then take over? The common flue kills more people, even this year than this Pandemic. Why not use the antivirals they know work and stop all the tail chasing over vacciens and tests. Does anyone think this was not concoted to take control of everything?
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