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sschullo

How is everybody doing?

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You know Ed, I'm glad you checked that. That's just a reminder you can't believe everything you read. I remember distinctly reading that it was happening  on several online news outlets. I think  it may have been copycat fake news starting at CNN.  I wish news sites would fact check. My relatives in Italy first alerted me that Corona  beer was losing sales because of the virus. Goes to show how far fake news can travel. 

 

CNN may have embellished  the story a bit to make it more newsworthy.

https://www.bizpacreview.com/2020/02/28/cnn-humiliated-after-firestorm-claiming-38-of-americans-wouldnt-drink-corona-beer-due-to-coronavirus-892272

 

On the other hand, business usually don't want to admit their sales are down because its bad publicity and may hurt the Brand reputation causing further loses. I'm sure Snopes has the story correct.

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1 minute ago, tony said:

Actually wouldn't the alcohol in the beer help kill it?  Don't they put alcohol in hand sanitizer?

Alcohol content is probably too low.

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IMUA 808

If my memory serves correctly, you are in Hawaii correct?  Glad you are still frequenting the site. Hope to hear more from you.

 

Tony

 

 

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Bringing this up:

We may be heading into a bonafide stock market crash! What an opportunity for young people under 40 years old to buy. If it was me, I would not be buying just yet. 

I wonder what the older and retired folks who visit this forum are doing. So little discussion when there is a crash. Crashes get most people's attention, especially those who might have taken on too much risk. 

But for young people, crashes are great as long as you buy cheap shares. But it takes a lot of nerve to do this. 

 

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Steve

This is serious pullback and younger folks are getting probably their first taste of a major  stock pullback in their young working years. With a spreading virus of this type, I don't expect it to suddenly go away. As a result the tumble will continue.  I hope I'm wrong. But there is no optimism when all you hear on the news is pandemic related. How can this not be serious when Apple just sent 12,000 workers home!! in California and Apple last month said the spread of the virus in China would cause it to miss revenue targets for the quarter ending in March and cause iPhone shortages.  And Apple is one of the big boys.

I will say again that Your constant reminders of the importance of bond allocation helped me make some moves last month that helps me sleep well 

I was at the doctor's office yesterday for a six months checkup. I had to sit in a room full of coughing people and today i have a sore throat. My worries are no longer the stock market. As far as I know there are currently no document cases of Corona virus in Virginia, I hope I'm not the first one!!

Stay well    I hope we can hear from others

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Ok. I did something that I should not have done. I switch over to 25/75 stock/equities back in December from 80/20. Afterwards, the market kept going up. I was shooting myself in the foot but than the coronavirus happened and the stock market tanked. So, now I'm down 0.17% for the year instead of 7% if i was in my 80/20 portfolio. I GOT LUCKY. I only switched because the market just kept going up and everyone was greedy, which made me cautious. I was expecting a correction but didn't know when. Again, LUCK. I will probably not do this again. I will switch back to 90/10 in the near future but in progressive steps until I reach 90/10.

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On 3/6/2020 at 10:03 PM, DK said:

Ok. I did something that I should not have done. I switch over to 25/75 stock/equities back in December from 80/20. Afterwards, the market kept going up. I was shooting myself in the foot but than the coronavirus happened and the stock market tanked. So, now I'm down 0.17% for the year instead of 7% if i was in my 80/20 portfolio. I GOT LUCKY. I only switched because the market just kept going up and everyone was greedy, which made me cautious. I was expecting a correction but didn't know when. Again, LUCK. I will probably not do this again. I will switch back to 90/10 in the near future but in progressive steps until I reach 90/10.

DK,

I am very happy you posted this. It takes a lot of courage to admit to yourself first that you did something that could backfire, but then admit to us here takes a lot more courage. The lesson for all of us is never, ever attempt to time the market. And you admitted that you were LUCKY! Now your challenge is to get back to 90/10. I would not want that challenge at all. 

Are you taking on too much risk? Psychology is powerful and it will ruin a good plan. 

Thanks again for posting. Knowing how others are dealing with the psychology is tremendous support for sticking with your plan, no matter what. 

It is eerie that only a few of us are posting during this MAJOR crash. 

Steve

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2 hours ago, sschullo said:

It is eerie that only a few of us are posting during this MAJOR crash. 

Alas, I think it's a pretty small community posting here even in the best of times.  Steve, I'm not yet ready to label this a "MAJOR crash"-- I think things would need to get worse before we reach full-on stock market crash territory as opposed to the typical scary bear market that comes around every few years (which is bad enough). That said, the abrupt and ongoing decline certainly has my attention.  My stock-heavy portfolio is down significantly and that really brings the need for conservative bonds, cds or cash in retirement to the foreground.  I'm still working and contributing, so I can roll with this and actually enjoy being able to by more equities at a lower price.  But I'm at the point of considering retirement, so I'm sensitive to the problems that would follow if this decline were to happen shortly after I begin withdrawing income from my accounts.  (Not to mention that this instability makes it hard to assess when I have enough of a nestegg to retire.)

I second Steve's remarks to DK: market timing will sometimes work, just as you will sometimes come out ahead at a casino.  But as a long term strategy, it's a poor bet.  Happy for your jackpot this time, though, DK.

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2 hours ago, sschullo said:

It is eerie that only a few of us are posting during this MAJOR crash. 

Maybe when the market closes today we will have officially crossed into bear market territory.

I haven't looked, but I can do rough math and I know I'm down over 200k. I was/am considering early retirement, my current job is highly insecure, and I'm getting my roof replaced tomorrow. I'm told this is a recipe for emotional disaster, but I feel nothing. I get paid on Friday and I'll be buying stock with whatever is left after I pay my mortgage.

If anybody needs a pep-talk to stay the course, let me know. Everybody knew this would happen, we just didn't know when. This changes nothing.

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1 hour ago, EdLaFave said:

Everybody knew this would happen, we just didn't know when. This changes nothing.

Well said!

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5 hours ago, EdLaFave said:

Maybe when the market closes today we will have officially crossed into bear market territory.

I haven't looked, but I can do rough math and I know I'm down over 200k. I was/am considering early retirement, my current job is highly insecure, and I'm getting my roof replaced tomorrow. I'm told this is a recipe for emotional disaster, but I feel nothing. I get paid on Friday and I'll be buying stock with whatever is left after I pay my mortgage.

If anybody needs a pep-talk to stay the course, let me know. Everybody knew this would happen, we just didn't know when. This changes nothing.

I am happy I can feel fine when the market goes up and not so good during times like this. However, I am most jubilant about the extremely low costs of my portfolio and how much I have saved in those low fees for years!

And we still don't know how much farther this crash could go. I agree that for most young investors, and some older who are risk-tolerant and don't need the money, its a buying opportunity. 

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