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Markets still falling like whoa

Llano Estacado

By Llano Estacado
in Business and Markets

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Eastwood
Eastwood

That's why I'm out. There is no end game, IMO. This has to be fixed outside of the market and I got too nervous about what that entails for retail investors. They will always be last on the list, if o

Rusty Shackelford
Rusty Shackelford
Eastwood
Eastwood

I'm not a financial advisor. This is not financial advise. I don't work in finance. I do not have a degree in finance. Actually, I have a BA and I'm bad at math past Cal I. I won't apologize for the l

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ZB'Tejas

ZB'Tejas 593

Posted
Posted
16 minutes ago, bluto said:

Idk wtf I’m doing but I just pulled 70% of my target retirement fund accts off the table in my roth.

To go into cash waiting for a better reentry? I've gone cash in a few stocks that have run back up but not yet touched anything in my 401K target funds.

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bluto

bluto 4,908

Posted
Posted
How old are you?

35. This all just feels like way too much way too soon, and I felt the market was overheated pre covid.

 

I think I’m going to roll a decent chunk of it over into Exxon for the dividend factor. Worth noting I work at a big 4 so I have to be careful of what I get into regarding audit independence, most etfs/mutual funds are permissible.

 

(Again, idk shit, just being semi conservative. I still have over half my Roth rolling along.)

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washparkhorn

washparkhorn 9,939

Posted
Posted

And we are "officially" in a recession - according to the NBER. 

Quote

The usual definition of a recession involves “a decline in economic activity that lasts more than a few months.” However, in deciding whether to identify a recession, the committee weighs the depth of the contraction, its duration, and whether economic activity declined broadly across the economy (the diffusion of the downturn). The committee recognizes that the pandemic and the public health response have resulted in a downturn with different characteristics and dynamics than prior recessions. Nonetheless, it concluded that the unprecedented magnitude of the decline in employment and production, and its broad reach across the entire economy, warrants the designation of this episode as a recession, even if it turns out to be briefer than earlier contractions.

https://www.nber.org/cycles/june2020.pdf

This is Fed week for a decision on rates (no change expected). 

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Coelenterate Fuccboi

Coelenterate Fuccboi 13,082

Posted
Posted
36 minutes ago, bluto said:

35. This all just feels like way too much way too soon, and I felt the market was overheated pre covid.

 

I think I’m going to roll a decent chunk of it over into Exxon for the dividend factor. Worth noting I work at a big 4 so I have to be careful of what I get into regarding audit independence, most etfs/mutual funds are permissible.

 

(Again, idk shit, just being semi conservative. I still have over half my Roth rolling along.)

Your strategy will be based on your personality. At your age, being very aggressive is the smart play, IMO. I’d stay away from target funds as they are not aggressive enough for me. At least keep it all invested .

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McCroskey

McCroskey 1,504

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5 hours ago, Sbbruin said:

I'm basically back to where i was pre-pandemic.   I can't figure the why's or wherefore's of any of this, so I let it ride all the way down, and all the way back.

Same, though I did infuse some cash in early April into BA, DAL, and NCLH when they were each near bottoms and the last 3 weeks are the sole reason I'm now up on the year.  Still have a little ways to go to get back on ALK and JBLU.

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LTtxfan

LTtxfan 49,140

Posted
Posted
15 hours ago, Harrison Stafford said:

CHK was up 176% today.  The market loves bankruptcy.  Money is easy to make and fun.

 

 

Yesterday Up $45.... now down $30 premarket

Chesapeake Energy Corporation (CHK)

NYSE - NYSE Delayed Price. Currency in USD
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69.92+45.12 (+181.94%)
At close: June 8 4:00PM EDT

37.95 -30.40 (-44.48%)
Pre-Market: 8:50AM EDT

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B00M

B00M 6,409

Posted
Posted
17 hours ago, bluto said:

Idk wtf I’m doing but I just pulled 70% of my target retirement fund accts off the table in my roth.

Targeted retirement funds are dogshit anyway so no ragrets. High management fees for mediocre returns. Dollar cost average into index funds and you'll be better off. 

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bullzak

bullzak 413

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Posted

I love to listen to people bitch about the Fed. It helps me ID who missed the move. 

Rule Number One is Dont Fight the Fed. Rule Number Two is see Rule Number One. Been that way forever. 

Fed signaled during the last crisis they were going to reflate and easy money helped propel the bull. Same thing this time with even more fiscal policy from Congress. 

Doesn't do any good to bitch about it, but you have to recognize the effects. 

My BIL was a floor trader who shorted all the time after 2009 because he was playing the way he thought things should be, instead of the way things are. 

More worried about being the smartest guy in the room, rather than making money. 

Now he lives in a fucking van down by the river. 

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52-80

52-80 19,137

Posted
Posted
39 minutes ago, UT_OB1 said:

My 401k doesn’t have many options besides target retirement funds. 
 

speaking of 401ks mine is now back to roughly the exact same number it was at late February. I dont understand. 

same...but check if you have a self-directed account option.  mines linked to fidelity and gives access to a bigger world of investment

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UT_OB1

UT_OB1 2,210

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Posted (edited)

I don’t see that option on our portal (BOK).  Is that something you’d normally have to contact the mgmt company for?  
 

RGAGX is my best performing fund at +20% for the year, but my 2040 and 2050 are in a 4 way tie for second with a coupe others at 10%. 
 

Edit - the 2040 is RFGTX. It says the annual mgmt fee is 0.00%, other expenses and Aquired (underlying) fund fees and expenses are 0.01 and 0.37 respectively. Is that considered high?

Edited by UT_OB1
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52-80

52-80 19,137

Posted
Posted
2 minutes ago, UT_OB1 said:

I don’t see that option on our portal (BOK).  Is that something you’d normally have to contact the mgmt company for?  
 

RGAGX is my best performing fund at +20% for the year, but my 2040 and 2050 are in a 4 way tie for second with a coupe others at 10%. 

your plan administrator can answer that.  i just found my SDA option by digging around our 401k hosting service/site. 

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drewlaws

drewlaws 126

Posted
Posted
19 hours ago, bluto said:

35. This all just feels like way too much way too soon, and I felt the market was overheated pre covid.

 

I think I’m going to roll a decent chunk of it over into Exxon for the dividend factor. Worth noting I work at a big 4 so I have to be careful of what I get into regarding audit independence, most etfs/mutual funds are permissible.

 

(Again, idk shit, just being semi conservative. I still have over half my Roth rolling along.)

I'm no expert but I'm pretty sure moving from a broadly diversified portfolio to a single stock is the opposite of being conservative.

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LTtxfan

LTtxfan 49,140

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Posted (edited)
1 hour ago, closetohumping said:

https://www.google.com/amp/s/finance.yahoo.com/amphtml/news/ibio-coronavirus-pandemic-lucky-break-100110935.html

ibio May be worth a look

 

Thought this was funny....

For iBio, the Coronavirus Pandemic Was a Lucky Break

"The novel coronavirus pandemic caught iBio (NYSE:IBIO) stock at a good time.  The company just finished building a 130,000-square-foot facility near Texas A&M University to produce proteins when the pandemic began in China."

 

"The company is also developing vaccine candidates for third parties. It has a license agreement with the University of Natural Resources and Life Sciences, Vienna; a strategic relationship with Beijing CC-Pharming Ltd.; and collaboration agreements with AzarGen Biotechnologies (Pty) Ltd, The Texas A&M University System, and Fraunhofer Center for Molecular Biotechnology. In addition, the company offers a range of product and process development, analytical, and manufacturing services. iBio, Inc. is headquartered in New York, New York."

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Baconboy

Baconboy 135

Posted
Posted
6 minutes ago, closetohumping said:

I’m actually up but I feel down.   Airlines stunk early.   Wandering of Ford is still headed for bankruptcy?  I think there were rumors 

Ford is sitting on ~$38B in cash after its recent $8B debt offering. Supposedly there was demand for $40B from investors for the debt. Perhaps they should have offered the bonds at lower interest rates (the offering was at junk rates ranging from 8.5% - 9.625% depending on the term) since there was so much investor demand? Regardless it's clear there are a lot of investors who are confident Ford is going to make it to 2030, and I haven't heard anything about bankruptcy. That said anything's possible and I'm all ears if you've heard something different.

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