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re: Signs we may be nearing a bottom
Posted on 5/20/22 at 5:27 pm to slackster
Posted on 5/20/22 at 5:27 pm to slackster
quote:
Surely you understand why believing you sold all equities except energy in March is a little tough to believe, no?
I never claimed to know everything like some people on this board. That is why I asked that question. I was knowledgeable enough to know the interest rates alone would cause the market to drop. I also knew that the cost of energy was going up when the world turned against Russia. (30+ years in chemicals and refining)
So if I would have listened to the “experts” like you I would be down on my account for the year. I thought outside the box and took a risk. It worked out great.
I don’t care what you do. It’s your money to gain or lose. Why are you so concerned about my success? Does it make you feel bad that you are not having the same? I don’t live by a set of rules. That’s a pretty rigid stance to say you have to always hold on to your stocks. It’s something that someone who makes a commission off a client would recommend. I see what works for others and try to do that. Sometimes it doesn’t work but most time it does. I’m just passing on what I did to others. Take it or leave it. Nothing more.
Posted on 5/20/22 at 5:29 pm to slackster
quote:
Why didn’t you have them make the common sense moves you made in your account?
I’m not telling them how to do their job. I’m just getting another financial advisor. I have several and I’m figuring out which one I want to use when I retire.
I’m learning.
Posted on 5/20/22 at 5:47 pm to sawtooth
quote:
So if I would have listened to the “experts” like you I would be down on my account for the year. I thought outside the box and took a risk. It worked out great.
I don’t make short term investing decisions like going to 25% or higher cash. I’m not knocking those that do, I’m just clearing that up. As a result, I would NEVER categorize myself as an expert in the short-term movement of any investment. I do genuinely believe I’m well versed in financial planning and broad financial concepts, but I’m no expert on the 6 month direction of the market - I know enough not to be so naïve.
quote:
I don’t care what you do. It’s your money to gain or lose. Why are you so concerned about my success? Does it make you feel bad that you are not having the same?
I wish I had your 5 month return, but I’ll be fine.
quote:
I don’t live by a set of rules. That’s a pretty rigid stance to say you have to always hold on to your stocks. It’s something that someone who makes a commission off a client would recommend.
I’m not nearly as black and white as you seem to think. I rebalance and sell stocks most of the time. I also don’t mind 5-10% in cash in some circumstances. Also, if I was paid commissions, I would make more money with more transactions - it’s called churning.
[img]I see what works for others and try to do that. Sometimes it doesn’t work but most time it does. I’m just passing on what I did to others. Take it or leave it. Nothing more.[/img]
You’ve spent most of your posts since late April telling people the market is going down and you’ve got $350k to invest, but nothing about you selling when you decided to sell. Next time, don’t keep the good ideas to yourself.
Posted on 5/20/22 at 5:48 pm to sawtooth
quote:
I’m not telling them how to do their job. I’m just getting another financial advisor. I have several and I’m figuring out which one I want to use when I retire. I’m learning.
, of course. Posted on 5/20/22 at 6:00 pm to slackster
What’s funny about that? When I think the market bottoms out I am closing my account with Edward Jones and moving it and $50K in cash to another financial advisor. (One that several of my coworkers have been using). I’ll give that one a chance.
Financial Advisors are a dime a dozen. Finding a good one is a diamond in the rough. I’ll play them against each other till I find that diamond.
Financial Advisors are a dime a dozen. Finding a good one is a diamond in the rough. I’ll play them against each other till I find that diamond.
This post was edited on 5/20/22 at 6:00 pm
Posted on 5/20/22 at 6:20 pm to sawtooth
quote:
What’s funny about that?
It’s funny that you’re going to fire an advisor over 5 months of performance.
Why are you using so many advisors in the first place? Find someone you trust and work with him. You clearly like to be involved in some of the decision making, so find someone that will do that. Also, why would you do it at the market bottom? You’re convinced the market has a lot further to fall, so you’re going to consciously let your other money go down with it, then leave?
quote:
Financial Advisors are a dime a dozen. Finding a good one is a diamond in the rough. I’ll play them against each other till I find that diamond.
While I 100% agree with your conclusion here, playing FAs against one another for performance is a fool's errand.
If you’re going to an FA for strictly performance, you’re doing it wrong.
Posted on 5/20/22 at 6:25 pm to slackster
We are so far from the bottom! Has anyone gotten to the point where you would consider that you have sold out of panic? Probably not.
When the market panic sells off, you will be close. People with cash will swoop in and there will be a bottom and a capitulation.
When the market panic sells off, you will be close. People with cash will swoop in and there will be a bottom and a capitulation.
Posted on 5/20/22 at 6:36 pm to oneg8rh8r
quote:
We are so far from the bottom! Has anyone gotten to the point where you would consider that you have sold out of panic? Probably not. When the market panic sells off, you will be close. People with cash will swoop in and there will be a bottom and a capitulation.
We got a 20% pullback in 2018 without any real panic selling that I can recall.
Posted on 5/20/22 at 6:46 pm to slackster
quote:
FA for strictly performance
My financial advisor can save the cheesy birthday and Christmas cards. I have enough friends.
They are only there to make me money.
Period
Posted on 5/20/22 at 6:47 pm to slackster
quote:
that I can recall.
Listen to this guy! He spends his business day arguing with “amateurs” on TD.
A true professional.
LOL
Posted on 5/20/22 at 7:29 pm to JimMorrison
Thanks. Got confused which earnings you were using.
Started buying VTI and selling SPY puts today when the S&P500 finally went 20% down.
My simple strategy at this point is to pull the trigger again and again each 1% it goes down and roll any puts that are out of the money. The premiums are really nice with all this volatility. Wasn’t about to write SPY puts at all time highs. 20% down and I’m more comfortable doing that now.
Started buying VTI and selling SPY puts today when the S&P500 finally went 20% down.
My simple strategy at this point is to pull the trigger again and again each 1% it goes down and roll any puts that are out of the money. The premiums are really nice with all this volatility. Wasn’t about to write SPY puts at all time highs. 20% down and I’m more comfortable doing that now.
Posted on 5/20/22 at 8:14 pm to sawtooth
quote:
They are only there to make me money.
We’ll let me save you the fees - no FA is going to beat something like VTI if you just want to make money regardless of risk tolerance or retirement/estate planning.
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