Quote:
Originally Posted by Pete F.
That's also what Larry Kudlow said several times, buy the dip..........
At 27K, 26K, 20K........
However no bear market has ended in a month, ever......
Between 1926 and 2017, there have been eight bear markets, ranging in length from six months to 2.8 years, and in severity from an 83.4% drop in the S&P 500 to a decline of 21.8%
This one has totally unknown components that have no historical precedent.
The Imperial College report that I posted in another thread says it is likely that absent a miracle the Covid-19 virus will require social isolation of populations and therefore disrupt our economy for a year and a half.
I am hoping for a miracle but unwilling to bet the farm on one.
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Please tell us who said it would be over in a month?
Who? Who are you responding to? No sane financial advisor ever told anyone to buy stocks on the dip and use the profits to pay your mortgage at the end of the month. Your time horizon needs to me measured in years, not months.
If you bought an S&P 500 index fund in any of those bear markets, there was time within the next few years that you did terrific.
But you know more about finance than Larry Kudlow, obviously. He's associated with Trump, so he can't be competent and dedicated, it's not humanly possible. He has to be an idiot and a crook.
YOU are the one acting as if a month matters, by stating (correctly) that if you bought when the DJIA was at 25k, you are now down. It doesn't matter how you're doing 7 days later. It matters how you did from the time you bought, to the time you sold.
Even professionals who try to time the bottom, usually can't do it, and often they wait too long and get back in when things have rebounded higher. You don't want to miss much of the rebound, because that's the opportunity.
If you buy a good mutual fund today with money you won't need for a few years, there's a 95% chance you'll make a killing. Ask anyone who bought in late 2008 or early 2009.
No one here saw you make a post about the economy until 10 days ago. You are giddy about this because you see the political opportunity. And you're right to be giddy about it from that perspective, as Biden had little chance if the DJIA was at 30,000 and more importantly, if unemployment was below 4%. The level of the DJIA means absolutely nothing to anyone who isn't selling that day. Unemployment levels, matter a lot more.
You've never posted once about the benefits of low unemployment during this administration. Not once. If it skyrockets, how long before you post? The first report that unemployment shot up (and it's likely coming soon, could easily be over 10% soon), you'll quickly ejaculate and then post about it.