Comment on Who needs retirement when you can buy an asset that loses value over time?
MutilationWave@lemmy.dbzer0.com 9 hours agoPersonally I pulled everything out of index funds right before the market tanked. I know trying to time the market is a fool’s errand, but it was so obvious that the US was about to shit the bed.
Now if that money is worth anything in a few years I have no idea. If we pull through I will reinvest. I’m literally thinking about buying gold, something that I thought was stupid just a short time ago. I read that JP Morgan Chase flew $4 billion in gold to their vault in NYC a month ago. Other big banks are doing the same.
Fuck the big banks, don’t get me wrong, but they know about risk and hedging.
LastYearsIrritant@sopuli.xyz 9 hours ago
9/10 times you’ll miss the dip and get behind the curve. You have no idea how the market is going to react in the next 6 weeks, much less in the next 6 years.
Trump could have just as easily not implemented the two days of tariffs and the market could have gone up.
Now that the tariffs are off again, the market might bounce back higher than ever on Monday and you’re going to miss the bounce.
Of course he might say something incredibly stupid tonight and the market crashes, but again, 9/10 times pulling money out of the market means opportunities lost, not bullets dodged.
MutilationWave@lemmy.dbzer0.com 9 hours ago
You’re totally right and normally I would ride the dip. But we’re not in normal times. I’m thinking recession inevitable, depression possible. I’ll try not to miss the bottom of the dip, but that could be years from now. I’m happy with my decision.
He will say something incredibly stupid just about every day, you can take that to the bank. After delaying the tariffs again he announced 250% tariff against Canadian dairy because he misunderstood their variable tariff protection scheme. Even if the tariffs never officially come to pass, this on and off shit is terrible. The market is irrational but it hates uncertainty.
Clent@lemmy.dbzer0.com 8 hours ago
The first rule of investing is accepting you are not smarter than the market.
Not having that money invested is a huge mistake.
MutilationWave@lemmy.dbzer0.com 6 hours ago
Not having it invested has “saved” me thousands of dollars so far. This could be a full on depression coming. The market is not smart. It is irrational.