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On 3/11/2020 at 7:31 PM, EdLaFave said:

I don’t enjoy losing money, but I can think of one consolation prize of this well timed downturn 😁 😈 

Maybe don't say that outloud, Ed!  Hannity, Limbaugh, etc., are pushing the idea that the virus concern is a "hoax" designed to undermine you-know-who.  If people actually believe them, it could have negative health consequences.

Latest is the NBA has suspended the basketball season, and we're starting to see celebrities who have tested positive come forward, including Tom Hanks and his wife.  News is coming very fast.

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47 minutes ago, whyme said:

Hannity, Limbaugh, etc., are pushing the idea that the virus concern is a "hoax" designed to undermine you-know-who.  If people actually believe them, it could have negative health consequences.

To be fair I watch all the news channels and all of them have their biases which is unfortunate. I'm a moderate and independent voter. I have never heard those guys  at Fox call it a hoax, not once although Hannity is definitely a cheerleader for Trump. What I do hear is that some groups are hoping this event will get so bad medically and economically  that the man in the main office will pay the consequences of any missteps he may make. Thats sad.  Even the California governor said Trump has done everything he has asked of him to do concerning the Virus  and that the media  was being unfair .I saw the video, he really did say that. This pandemic is an opportunity to come together. We need to do that. I'm so tired of politics and Steve was probably right in saying it does no use talking politics.

Gotta go and wash my hands but let's keep the investment comments coming. Folks who read our  posts are learning what not to do!!

Best

Tony

P.S  go easy on the toilet paper. Walmart, Target and others are now limiting purchases.

 

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I don't want to derail this into a political discussion, but in case anyone is interested in following up on the comments above, here's a NY Times article from today about this issue, which quotes Hannity as using the word "hoax" and saying that it "may be true" that the virus is a fraud by the deep state designed to spread panic.  Some other hosts are quoted in there, too. https://www.nytimes.com/2020/03/11/us/politics/coronavirus-conservative-media.html

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Whyme

You may be right.

  Limbaugh and Hannity tend to get a bit ridiculous .I don't take anything they say seriously.  I don't watch or listen to them. it wouldn't surprise me. Tell my elderly Aunts  and uncles in their nineties living in Italy if they think its a hoax. It's serious.

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7 hours ago, tony said:

To be fair I watch all the news channels and all of them have their biases which is unfortunate.

My personal political views aside, the data is clear that we can’t both sides this. Fox News hosts have consistently and repeatedly reported things that are verifiably untrue. The same cannot be said for other outlets like CNN or the NY Times. 

Biases are subtle and subconscious and professionals do everything they can to overcome it, sometimes swinging too far in the other direction. Propaganda is something else entirely and for the sake of precision alone we shouldn’t confuse the two.

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13 minutes ago, tony said:

Wow Ed

Your comments

Tony, when I say something that is false, just provide the evidence and I'll immediately change my mind.

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C'mon Tony, stick around, don't let Ed's strongly expressed opinions drive you away.  Both you and Ed are excellent contributors here.  It's a strange unsettling moment, my 2¢ is that we should make an effort to give each other a bit of slack.  

By the way, it looks as if the markets are firmly into "bear" territory today, by whatever measure you'd care to propose.

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I agree with whyme! I hope you hang in there! I rely on the NYT, Seattle Times, NPR, The Newshour etc. for what's going on in the world. We don't have cable, just rabbit ears, seldom watch anything other than the public tv station.

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6 hours ago, EdLaFave said:

Tony, when I say something that is false, just provide the evidence and I'll immediately change my mind.

 

8 hours ago, EdLaFave said:

My personal political views aside, the data is clear that we can’t both sides this. Fox News hosts have consistently and repeatedly reported things that are verifiably untrue. The same cannot be said for other outlets like CNN or the NY Times. 

 

O.K guys but the fact is this statement  above is blatantly wrong. I should not have to spend an hour giving Ed proof for every statement  I make or to prove he is misinformed. The pundits on TV are all full of it regardless of what channel they are on. I agree Limbaugh and Hannity are the worse offenders but they are not always wrong either. All the news channels and even the Times have made mistakes with the truth. Sometimes in error but not always..Some retract their miscues and some don't.  This is no different to me  than finding the truth about investing.  You have to understand the motivations of  those who are  often giving you the information and check it out. Advisors and salespeople lie all the time under the umbrella of truth.  .  This requires objective analysis and research. Thats how I arrived at 403bwise. I was looking for truth and I wasn't getting it from advisors. I want truth from the news media and I am not confident I am getting it. I have no issue with front-page news in newspapers. Its the opinion pieces and the opinion shows. Many people think or confused punditry with real news just like some people believe an insurance agent is working in their best interest.

I do think we need to get away from this political discussion. let' s steer away from it and back to investing issues. I do think Ed tries to get my goat and I think he often succeeds.

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9 minutes ago, tony said:

O.K guys but the fact is this statement  above is blatantly wrong. I should not have to spend an hour giving Ed proof for every statement

You haven't spent even a second providing proof at all. You've just gotten exasperated and said I was blatantly wrong without providing any argument.

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3 hours ago, tony said:

I do think we need to get away from this political discussion. let' s steer away from it and back to investing issues. 

I agree with you Tony!

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5 hours ago, krow36 said:

I agree with whyme! I hope you hang in there! I rely on the NYT, Seattle Times, NPR, The Newshour etc. for what's going on in the world. We don't have cable, just rabbit ears, seldom watch anything other than the public tv station.

I agree with whyme too. You are taking this way too seriously Tony. Nobody cares about anybody's political opinions. The fact is that our opinions only count, and I mean really count, in the ballet box. That's why political discussions are banned on Bogleheads! They are pointless. 

How about getting back to my original question: how is everybody doing?

The market lost 10% today is worth talking about because this is where people find out their genuine risk tolerance and are they staying the course. WE ARE IN A GENUINE full-blown CRASH! This reminds me of 2000-2002 and 2008 and early 2009. Everything went down even my bonds! And I am not doing a thing as I have lived through two of the biggest stock market crashes in history. I have a decline of 8.0% YTD. For comparison to 2008, this 30/70 portfolio declined by 11.8%. 

Of course, I have an advantage as I have most of my money in fixed accounts and retired. But those who have 70, 80% or more in stocks, this is the chance to buy cheap stocks, either through rebalancing or other means, or will you ICTIA, (I can't take it anymore!) and let your emotions ruin a good plan. 

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https://money.cnn.com/data/fear-and-greed/

https://money.cnn.com/data/afterhours/

https://finance.yahoo.com/

^ for whatever reason I've been tuning into those sites to track the market and then I use Mint to track account balances.

Even with a 90/10 portfolio and today's loses, my net worth is just back to what it was in Oct/Nov 2019. I felt fine then, feelin' pretty fine now. Major contributions haven't changed, but I am splitting up my Roth IRA contributions into four chunks(two already done). As much as I think I can identify a market bottom, I figured I would play it safe an invest the amount of money over a 3-4 month period.

I haven't purchased individual stocks before, but I'm really thinking about a few companies. Everything I've invested so far is in index funds, so I already own those individual companies, but it would be neat to get a share of Berkshire stock for a Geico Insurance and See's Candy discounts 😛

Thanks for the previous posts about what you are saying to others. I need to listen to the recent podcasts - one of them seemed like it was in response to recent volatility.

Focusing on the market and retirement accounts won't do anything besides generate anxiety. I try to remind myself that real world activities are the best use of my time and this other junk will sort itself out.

Stay Healthy!

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We’ve been retired 28 years, mostly with an asset allocation of 40/60 with 5% bands before rebalancing. During the last year it’s crept up to about 44/56. As of tonight (Mar 12), it’s slid to 38/62. If it gets past 35/65, I plan to sell some bond funds and buy stock funds to rebalance. We are only pulling out about 2% which includes RMDs, so the downturn is not very threatening, so far anyway. Fingers crossed!!

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