MAGA: My Accounts Got Annihilated
- Thread starter Pitt666
- Start date
Once people knew Trump would be the next POTUS, they should have reallocated appropriately. If people choose to generate and accumulate wealth within a system designed to leverage markets and lobby governments for the benefit of corporate interests instead of through hard work and market stability, then don't complain when those interests come at the sacrifice of your interests. But, by all means, let's keep at each other's throats.
Yup. Its one big casino and the little guy doesnt have the cheat code that politicians and mega corps/traders have. The market stopped reflecting real value from a corporation perspective long ago. Its why I went all cash a while back and lost out on pretty big gains as I just didnt trust the underlying market conditions. Yet the market continued to rise. So now Im rooting for a significant "correction" and then I might dip my big toe back in. Fortunately Im at a point in my life where I dont need huge gains from the market.
That's a good place to be, you lucky boomer.
Too bad it takes a while and a few corrections before many of us figure things out.
A friend of mine had a little nest egg bequeathed to him from his Dad due to Dad's early exit from this temporal plane. he parked it with the financial advisor his father's mother used for her retirement savings. His pot grew to about a half mill by 2008. So, he loses at least a third of it and asks the advisor why he had no warning. The advisor, of course, babbled some platitude and the kid told him to cash it the eff out. He put it all in CDs and now sleeps well each night.
Maybe not the wisest investment strategy going forward; but it was a good move since the kid is a nervous nellie. It was worth it to see the advisor lose his sh!t when he lost the account. He has 20 years to go to retirement. Rising rates may leave him also in a nice place eventually.
People who “play” the market get played. My friend has a saying for businesses that applies well to the market. Pigs get fat and hogs get slaughteredThat's a good place to be, you lucky boomer.
Too bad it takes a while and a few corrections before many of us figure things out.
A friend of mine had a little nest egg bequeathed to him from his Dad due to Dad's early exit from this temporal plane. he parked it with the financial advisor his father's mother used for her retirement savings. His pot grew to about a half mill by 2008. So, he loses at least a third of it and asks the advisor why he had no warning. The advisor, of course, babbled some platitude and the kid told him to cash it the eff out. He put it all in CDs and now sleeps well each night.
Maybe not the wisest investment strategy going forward; but it was a good move since the kid is a nervous nellie. It was worth it to see the advisor lose his sh!t when he lost the account. He has 20 years to go to retirement. Rising rates may leave him also in a nice place eventually.
I had always just picked high performing mutuals and ETFs and set them and forgot them. Then after covid I got into buying and trading stocks. I did really well. And for greedy. So I got into a much of prospective crap and got crushed. So that’s when I got out and was living in my fears So I didn’t take advantage of the rise that occured under Xiden.
Theoretically you can perhaps anticipate or get ahead of major events by getting in or out completely. But imo unless you have insider info or are a professional in this area it’s best to pick a sound strategy and forget out it. The market almost always comes back
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