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re: Cash Gang Check-in Thread
Posted on 11/25/20 at 8:13 am to JohnnyKilroy
Posted on 11/25/20 at 8:13 am to JohnnyKilroy
I'm cash heavier, but that has more to do with taking profits in the run-up. I get nervous when markets are at all-time highs.
1
Posted on 11/25/20 at 8:26 am to Auburn1968
quote:Well, that's not cash gang. Cash out or bust!
I'm cash heavier, but that has more to do with taking profits in the run-up.
Posted on 1/7/21 at 9:51 am to castorinho
Update:
The market is at a new ALL TIME HIGH and has risen 18.53% since the week prior to the election
The market is at a new ALL TIME HIGH and has risen 18.53% since the week prior to the election
Posted on 1/7/21 at 9:55 am to JohnnyKilroy
Cash gang won’t check back in until a big correction. They won’t mention all the money making chances they missed in the intervening months
This post was edited on 1/7/21 at 9:56 am
Posted on 1/7/21 at 10:07 am to JohnnyKilroy
quote:LINK
Update:
The market is at a new ALL TIME HIGH and has risen 18.53% since the week prior to the election
Posted on 1/7/21 at 10:59 am to JohnnyKilroy
I was all cash prior to the March drop and didn't put any back in until two months ago. Put half my trading cash on WFC then which is up 17% since so feeling a little bit better about it. Also made 30% on a small CHWY bet. The rest haven't really moved (up 3% on SPY).
Posted on 1/7/21 at 11:02 am to Mootsman
gang gang gang gang
Posted on 1/7/21 at 11:16 am to JohnnyKilroy
quote:
The market is at a new ALL TIME HIGH and has risen 18.53% since the week prior to the election
I was and am heavily in cash rn, maybe I'm a fool because this shite is non-stop pumping.
Posted on 1/7/21 at 11:34 am to Old Money
Good luck on your re-entry timing
Posted on 1/7/21 at 1:34 pm to JohnnyKilroy
Not me. I'm about to start working on building up my on-hand stores of on-hand gold and silver coinage though. The incoming admin is talking about forgiving lots of student debt, getting rid of stepped up basis, rumors of a 100-day nationwide lockdown and that's all on top of knowing tax revenues are going to be absolute shite come April even though the federal government still spent its normal frickton on top of two massive stimuli to the taxpayers (as well as a fat chunk to "foreign ngo's").
We're currently paying a little over a half a trillion just to service the current debt.
Tell me, what happens to the value of a fiat currency whose value is largely based on the faith of its government to pay off its debts when that government begins snowballing debt and has no plans to level it off, much less begin paying it down?
Do you know what that's going to look like next year? It's going to look like "frick cash", that's what it's going to look like.
We're currently paying a little over a half a trillion just to service the current debt.
Tell me, what happens to the value of a fiat currency whose value is largely based on the faith of its government to pay off its debts when that government begins snowballing debt and has no plans to level it off, much less begin paying it down?
Do you know what that's going to look like next year? It's going to look like "frick cash", that's what it's going to look like.
This post was edited on 1/7/21 at 1:38 pm
Posted on 1/7/21 at 2:41 pm to Bard
My dad, a staunch republican and "the world is going to end" type of guy any time a democrat is elected, sent an email to me a while back telling me to go to cash if Biden gets elected.
I sent him a picture of the market performance the past five presidencies, noting that democrats were in office during the largest increases and that the market ended up for all of them. And that it would be incredibly foolish to sell everything. So I had zero thoughts of selling.
ETA: Actually Carter and GW ended with the market lower than when they took office
ETA2: Why the downvotes...this is the money board. You literally would've made a terrible financial decision if you went to cash because a Democrat (or Repub for that matter) was elected president the last 30 years. It's financial fact.
I sent him a picture of the market performance the past five presidencies, noting that democrats were in office during the largest increases and that the market ended up for all of them. And that it would be incredibly foolish to sell everything. So I had zero thoughts of selling.
ETA: Actually Carter and GW ended with the market lower than when they took office
ETA2: Why the downvotes...this is the money board. You literally would've made a terrible financial decision if you went to cash because a Democrat (or Repub for that matter) was elected president the last 30 years. It's financial fact.
This post was edited on 1/7/21 at 5:30 pm
Posted on 1/7/21 at 2:46 pm to Mootsman
quote:
I was all cash prior to the March drop and didn't put any back in until two months ago.
Holy shite...you missed one of the greatest income producing opportunities the market has ever seen. What the hell were you waiting for?
Posted on 1/7/21 at 3:09 pm to Old Money
quote:Why not hold your cash in an inflation hedge such as Bitcoin?
I was and am heavily in cash rn, maybe I'm a fool because this shite is non-stop pumping.
Posted on 1/7/21 at 3:35 pm to castorinho
quote:
Good luck on your re-entry timing
I play options mainly in the acct i'm referring to, I have a stock account but I don't look at it ever.
This post was edited on 1/7/21 at 3:36 pm
Posted on 1/7/21 at 3:38 pm to TigerTatorTots
quote:
Why not hold your cash in an inflation hedge such as Bitcoin?
I played crypto back in 2017/2018 when it was popping off. I frankly just don't understand what I'm "investing" in with most cryptos so I've kind of stayed away due to my own lack of knowledge. We'll see if it will hold steady with these new highs, I'll eventually have to do some real research.
Posted on 1/7/21 at 4:22 pm to Old Money
quote:I specifically said Bitcoin. You'd be up somewhere between 100-500% if you bought in 2017/2018. Don't dabble in the non-BTC shitcoins
I played crypto back in 2017/2018 when it was popping off.
ETA:
quote:
We'll see if it will hold steady with these new highs, I'll eventually have to do some real research.
Better hurry before this thing hits $100k a coin at the rate its going
This post was edited on 1/7/21 at 4:23 pm
Posted on 1/8/21 at 9:43 am to Chucktown_Badger
quote:
My dad, a staunch republican and "the world is going to end" type of guy any time a democrat is elected, sent an email to me a while back telling me to go to cash if Biden gets elected.
For me it's not so much an R vs D issue as it is a ledger issue. I'll copy/paste my reasoning on Poli:
quote:
Now let's combine that with a few things we know:
1. We've had two major stimuli bills this year, they were on top of normal spending.
2. This second one also included EVEN MORE spending that went overseas.
3. Tax revenues are going to be VERY LOW in April due to the COVID impact through 2020.
4. We currently pay a little over a half-trillion each year just to service the current debt.
All of this means we've added a LOT of deficit spending while not taking in nearly as much revenue as projected.
Don't get scared yet because, in the words of the late, great Billy Mays... THERE'S MORE!
The incoming administration is planning or has at least made mention of thinking about doing the following:
A. Removal of "stepped up basis". This is part of inheritance law that allows the taxation on the sale of inherited property to be based on the difference of sale price versus current value as opposed to sale price versus original value.
-----What this means is that if your parents left you their home in their will and it was $40k when they bought it but is now worth $200k when you inherit it and you sell it for $205k only $5k of that is taxable (the sale price minus the value upon date of inheritance). Under that same scenario, but without the stepped-up basis, $165k of that sale is taxable (the sale price minus the price your parents paid for it).
B. Forgiveness of student loans. I'm not sure of the criteria (ie: some, all, only specific ones, only for certain degrees, etc). Each forgiveness just dumps more onto the deficit for that year and onto the overall federal debt.
C. 100 Days of Nationwide Lockdown. Biden has come out and said he's absolutely against this but he's shown he's a pretty weak character and enough of his surrogates have echoed this to make it a possibility worth mentioning.
Regardless of whether C happens or not we have a looming situation where we've had massive spending but massively decreased revenues. That's going to add quite a chunk to our debt. Couple that with the printing presses putting our Dollars like they are Monopoly money and you would swear someone wished on a magic crystal for a scenario for incredible inflation over the coming year.
That's why I'm buying physical gold and silver. Everything points toward shite hitting the fan over the next few months. If I'm wrong then I lose a little money but if I'm right I make a lot. At the very least it's a damned smart hedge.
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