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Old 06-27-2016, 11:23 AM  
DaFace DaFace is offline
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Personal finance and investing megathread extravaganza

I know lewdog (and maybe others) have mentioned the desire to have a place to chat about personal finance stuff. We'll see if there's enough interest to keep this going in the long-term, but at least for now, here's a place to chat about whatever personal finance topics come up.



If you're just getting started thinking about saving and don't know where to begin, this flow chart can help. Ask for advice in the thread for more help!

Last edited by DaFace; 01-24-2018 at 03:49 PM..
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Old 02-05-2018, 02:40 PM   #1696
BroncoDork BroncoDork is offline
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It's weeks like this where I really wish I could time the market. I've had a lot of money evaporate over the past few days.
Maybe you'll get it right someday, best of luck. I'm only in mutual funds, American and Putnam, so if I want to move from aggressive equity funds to bond funds there is no fee. I was thinking there would be a correction, took five weeks into the year. There will be a rebound coming up, but I'm still expecting a bear or at least flat equity market through this year. Bond funds are yahhhhh.
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Old 02-05-2018, 02:59 PM   #1697
Iowanian Iowanian is offline
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Investing is a lot like driving in a demolition derby. You put in the work, earn extra money and spend it on something fun that could/should result in a return if you're skilled and have good luck.

Then you log into your accounts, hear the count down and back up and smash into something hard. you pull forward and back into a sorry dodge dart that is stuck on the rail, making some impact and a slight display for the crown for a while, feel a rush of adrenaline. You spin mud as you round the corner through the smoke of the wreckage of the cryptocurrency chevrolet that is smashed into the bitcoin buick...you put your foot down and spin mud as you blaze through the fog and smoke just in time to find yourself blindsided in the drivers door. Your seatbelt breaks and as your body catapults across the cab into the collision with the drivers door, you see the battery sparking.

Now, I'm trying to stay composed as Ricky "rainman" Bobby is running around on the track in his underwear screaming about being on fire, even though he's not....

Today, I'm sitting back up in the driver seat, I wiggled the positive cable on the battery cut into the seat, and even through the noise I can hear the starter turning and hoping the carb isn't flooding.

I'll try to tie the seatbelt together and if this fires back up, I've still got a strong motor and the radiator is in tact.


My biggest fight right now is the urge to put money in and buy into my same stocks at the discount rate.
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Old 02-05-2018, 03:02 PM   #1698
Hog's Gone Fishin Hog's Gone Fishin is offline
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Bought 8 shares Amazon 2 minutes before the close.

Edit : And lost $70 in the last 2 minutes .LOLOL ****!
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Old 02-05-2018, 03:07 PM   #1699
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Old 02-05-2018, 03:10 PM   #1700
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Sup, said Janet
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Old 02-05-2018, 03:23 PM   #1701
Hog's Gone Fishin Hog's Gone Fishin is offline
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Started the day with a 12 stock portfolio . 8 stop losses triggered. Down to 4 stocks and then added AMZN so now 5.

The only stock that was green for me today was a friggin Marijuana stock ACBFF. Go figure.
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Old 02-05-2018, 03:28 PM   #1702
JohnnyHammersticks JohnnyHammersticks is offline
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Watching people shit themselves over a 5% drop in a market that's up 25% in the last year provides a great window into why roughly 90% of day traders lose money.
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Old 02-05-2018, 03:33 PM   #1703
Hog's Gone Fishin Hog's Gone Fishin is offline
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Quote:
Originally Posted by Iowanian View Post
Investing is a lot like driving in a demolition derby. You put in the work, earn extra money and spend it on something fun that could/should result in a return if you're skilled and have good luck.

Then you log into your accounts, hear the count down and back up and smash into something hard. you pull forward and back into a sorry dodge dart that is stuck on the rail, making some impact and a slight display for the crown for a while, feel a rush of adrenaline. You spin mud as you round the corner through the smoke of the wreckage of the cryptocurrency chevrolet that is smashed into the bitcoin buick...you put your foot down and spin mud as you blaze through the fog and smoke just in time to find yourself blindsided in the drivers door. Your seatbelt breaks and as your body catapults across the cab into the collision with the drivers door, you see the battery sparking.

Now, I'm trying to stay composed as Ricky "rainman" Bobby is running around on the track in his underwear screaming about being on fire, even though he's not....

Today, I'm sitting back up in the driver seat, I wiggled the positive cable on the battery cut into the seat, and even through the noise I can hear the starter turning and hoping the carb isn't flooding.

I'll try to tie the seatbelt together and if this fires back up, I've still got a strong motor and the radiator is in tact.


My biggest fight right now is the urge to put money in and buy into my same stocks at the discount rate.
I wish I had one of your bee hives . I think I'd just go out there and bash it with a ball bat naked and then when they swarm me I'd douse myself with gasoline and light them up and call it a day.

I hate days like today.
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Old 02-05-2018, 03:46 PM   #1704
lewdog lewdog is offline
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Originally Posted by JohnnyHammersticks View Post
Watching people shit themselves over a 5% drop in a market that's up 25% in the last year provides a great window into why roughly 90% of day traders lose money.
Yup.

Iím not caring one bit about this. Wonít if it corrects 10% either. The past 2 years of gains were record pace. It wasnít going to keep up.
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Old 02-05-2018, 04:12 PM   #1705
Iowanian Iowanian is offline
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I wish I had one of your bee hives . I think I'd just go out there and bash it with a ball bat naked and then when they swarm me I'd douse myself with gasoline and light them up and call it a day.

I hate days like today.
Honey bees are just like investing....You get stung a lot and just when things are looking up, 70% of your bees die.

BUT...as long as I don't panic sell my equipment and stock, I can get some more bees and build these purple Baltic Avenue properties into Atlantic Avenue houses and leverage those into Pennsylvania avenue hotels.

Keep your eyes on the prize.
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Old 02-05-2018, 05:40 PM   #1706
TwistedChief TwistedChief is offline
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Yup.

Iím not caring one bit about this. Wonít if it corrects 10% either. The past 2 years of gains were record pace. It wasnít going to keep up.
I don't normally follow this thread but my profession is investing and this is 100% the right perspective. It doesn't mean you shouldn't worry about the move the last several days but you should also have the bigger picture in mind. We're basically back to early December levels.

There were any number of positioning metrics flashing 'euphoria' on a scale that we haven't seen post-crisis. Macro themes (long equities, long EM, short rates, short USD) have been dominating the trading environment and trending aggressively. All of these things rode the wave of sentiment up and now the same thing happens on the way down (you can blame a class of investors known as CTAs for amplifying these moves). This is how markets have operated forever.

Equities may still end up performing just fine over the next several months, but more likely than not the risk/reward (Sharpe in industry parlance) will just be poorer. So be prepared to feel less euphoric and more balanced. But this is what ultimately makes for a healthier market.

Said another way, the experience of investing in stocks is transitioning from feeling like being a fan of the Patriots to being a fan of the Chiefs.

Good luck, folks.
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Old 02-05-2018, 06:04 PM   #1707
ChiliConCarnage ChiliConCarnage is offline
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XIV is at termination levels right now in after hours. 85% down. svxy too
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Old 02-05-2018, 06:26 PM   #1708
Hog's Gone Fishin Hog's Gone Fishin is offline
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Originally Posted by TwistedChief View Post
I don't normally follow this thread but my profession is investing and this is 100% the right perspective. It doesn't mean you shouldn't worry about the move the last several days but you should also have the bigger picture in mind. We're basically back to early December levels.

There were any number of positioning metrics flashing 'euphoria' on a scale that we haven't seen post-crisis. Macro themes (long equities, long EM, short rates, short USD) have been dominating the trading environment and trending aggressively. All of these things rode the wave of sentiment up and now the same thing happens on the way down (you can blame a class of investors known as CTAs for amplifying these moves). This is how markets have operated forever.

Equities may still end up performing just fine over the next several months, but more likely than not the risk/reward (Sharpe in industry parlance) will just be poorer. So be prepared to feel less euphoric and more balanced. But this is what ultimately makes for a healthier market.

Said another way, the experience of investing in stocks is transitioning from feeling like being a fan of the Patriots to being a fan of the Chiefs.

Good luck, folks.
I used stop loss orders today and it looks like it saved me about 3k of losses based on where those stocks closed. Now I get a chance to rebalance at better prices.
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Old 02-05-2018, 06:29 PM   #1709
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It's interesting to see the different strategies at play here. In the short-term, I favor my strategy of screaming and crying while buying into face of the tsunami.
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Old 02-05-2018, 06:42 PM   #1710
TwistedChief TwistedChief is offline
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I used stop loss orders today and it looks like it saved me about 3k of losses based on where those stocks closed. Now I get a chance to rebalance at better prices.
All fair and true and stops are a sound method of risk management. But just because you saved that 3k doesn't mean you have to become re-invested again immediately because it went down further.

There are two schools of thought. One is that if you liked the market at X, the market at 95% of X is a real bargain. The counter to that is if you liked the market at X and it's now at 95% of X, something in your original thesis was entirely incorrect.

When you're invested in something, you are naturally going to be less honest about it than if you were a dispassionate outside observer. You stopped on some positions and now have the ability to view things more objectively. That is a huge advantage in a market that's been driven by euphoric sentiment.
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