Worst year since 1931 for "buying the dip." Yes sir! another low point for Biden.
I am now officially declaring Biden as the worst POTUS in history. Making Carter and obummer the 3rd and 2nd worse prezzes all time. Bet Jimmy C. is glad he has lived to see himself get off the cellar floor. Not one, but now two prezzes are worse than him!
As for the market, it is just a "scoreboard" registering the realities of a tanking economy. Many of us know Biden did not actually win the election, his handlers stole it. But, Biden did get many real votes and those morons are idiots! Yes, "moronic idiots" which is far worse than just being either a moron or an idiot. If such moronic idiot voters would affect only themselves, I wouldn't care, but that's not how it works and now we are all paying the price.
And before moronic idiot #1, Goosey, chimes in with still another stupid comment, no, I am not blaming Biden for my investing decisions. I own 'em. But, that's not the point. Many people, through no fault of their own, are paying a price for a failing, a FLAILING, economy.
Shame on all of you who voted for that stupid Sleepy Joe.
Bingo
Wonder how his investments are faring? I know he said he owns AMD (which has gone from 160 to 60) and NVDA (which has gone from 300+ to 120+).
This is what happens when you take an economy growing at 6% (under Trump) and throw "stimulus" at it and raise taxes to pay for the stimulus and keep things shut down (dem cities) for political reasons and declare war on AMERICAN energy. The Fed, though certainly late with their response, are fighting all of that with interest rates (which won't do it alone), and I fear we have further to fall before things are done to correct the problem (remove the clown from the WH and the dem control of the House).
Either Goosey is reeling with his investments, like just about everyone else, or he KNEW the stock market would tank under Biden and yet supported that moron anyway. This is worse than experiencing a downturn in the market. Knowingly voting for/supporting someone who will harm our nation. Wow! Of course, it is not a surprise. Trump said weeks before the "Grand Theft Election" if Biden "won" (which he actually didn't) then the market would tank, the economy would crash, illegals would pour across the border, as would deadly drugs, etc...a long list of dire predictions, all of which have come true.
As for the market, true, it is down, but if you're in for the long haul, like I am, it's merely a hiccup and represents huge buying opportunities. One of those investing gurus summed it up perfectly, saying: a store puts a shirt on sale, a name brand, a brand you like, marks it down from $39 to $22 and you....don't buy it! Then when the price goes back up, you swoop in and buy three shirts. Dumb! This is exactly what some investors are doing. Good stocks, good companies have tumbled, and some people are selling rather than buying. If you think it is a lousy stock/company you shouldn't have owned it in the first place. But if you bought it, then hold it and even add to your position.
Of course I am buying NVDA and AMD here! Great cash generating businesses with tremendous growth. They are cyclical, so this is a great time to buy - when their earnings are impacted by macro headwinds and the market multiple is more “normal.” When the next rate cutting cycle begins, they should do very well.
And yesterday’s 2 year T note at 4.2+% yield. Thank you, I will take that too!
The USD is strong. Real strong.
My cost basis in NVDA is in the $30s and AMD around $15. Last time I really loaded up on them was when the Fed was hiking rates in 2018.
Don’t fight the Fed. That is really all you have to know.
Three posts of opinion with no assertions of analytical superiority, all backed by reasonable logic and presented in a non-confrontational manner.
I like it.
Well, it was a green day. On paper I made a bundle today, which just means I'll give it all back (and then some) next week .
don't play politics with your investments
You kinda have to do so.
The more Biden attacks fossil fuel extraction, the higher the price will go.
And it won't end quickly when someone more friendly to proven energy takes office, either. It will take years to ramp up production to the point where it makes a meaningful impact on the GLOBAL price of energy.
In the meantime, I suspect coal will make a decent comeback to help the Europeans keep from freezing to death during the winter.
This is all politically driven, much like the price of Tesla and battery stocks were inflated because of politically initiated subsidies to fuel their popularity.