Bill Ackmann has a whole team of people working for him using sophisticated algorithms to time the market. Even with that advantage, most hedge funds can’t even beat the market. They make money only with commissions, people. Let’s be realistic here. An individual investor like you and me has even less of a chance to succeed at market timing, with much limited resources. That’s why buy and hold is always the best strategy at the end of the day. Also, why should I be upset about having $3.5M paper money going down to $1.5M? It was only worth $500k a year ago. The important number to look at is the number of shares that you’ve accumulated, not the share price itself. The more shares accumulated, the better.
Remember, I bought Tsla back in 2012 at $35. According to your reasoning, I should’ve sold it at $190 at 2013. Had I done that, I would’ve missed out on the opportunity of selling those shares at $950 seven years later. I’m pretty sure I will be able to sell those same share at a price much higher than $950 five years from now.
Again, not to mention the tax consequences of selling…
Back in 2000, my retirement account dropped 25% before I pulled out of market, then 15% in 2008, but now I pulled out early leaving it in cash with 1.27% gain. The entire drop is saved and further drop may be saved until I put back into investment.
It is not only for me, but few of my known people pulled out along with me.
I still feel it is premature until S&P touches 2000. With 30% unemployment estimated, I am fine to hold in cash level.
But, in taxable account, where reverse investment (spy puts) is possible, I made considerable progress in positive side (no issue paying tax on profits), but yet to time the bottom.
I may not exactly time the bottom, but a possible bottom for recovery. It is lot easier to identify the near bottom.
No bottom until the virus curve peaks.
As far as buying a Tesla. Who would buy now? It is a status symbol. Most people will find it repugnant to show signs of wealth in this coming period of austerity. Imagine if I pulled up in one in front of my tenants to collect rent.
If you did not sell before the market drops 10% (assuming you know crash is imminent) , do not sell at all. Ride with stock as it goes to the bottom and then returns up. At the bottom and during fall, markets become extremely volatile and timing is difficult. Selling at that time means you miss sharp bounce back and end up with huge losses. Buy the time market becomes stable, there is very little sharp gain remaining. Your losses from selling the stock at the bottom become permanent.
Exactly. Those who showoff that they did well in stock market, dress new trendy clothes, buy TSLA and buy new houses are in for the hottest shit if riot breaks out. Try to be as miserable as the majority.
Told @Jil at least three times here in this forum, he still didn’t learn. Control the desire to brag.
SAFETY FIRST.
Not only you didn’t do well, you did worse than most people - You should be projecting that perception.
One advantage unique to Tesla as a status symbol is its green and futuristic credential. Doesn’t hurt it’s made in America as well. It’s one thing to drive an imported Maserati. It’s quite another to drive an electric Model 3 made in the US of A.
Yes, I understand. I do not post on my own unless some one tells me “Buy now” ! Why do I need to get into bull trap now?
The only way to avoid answering “Buy now” is to keep quiet, not reply to them. May be that is what I need do.
This is not only from here, but also from reddit, they are unable to believe. It is human tendency. It is unfortunately not true, it is possible and there are plenty of people able to do it for many years.
The statement you quoted is I am talking to @jil about the right image to project now especially to your neighbors.
I put no new money to any of the trading portfolio. In fact, I withdraw profits now and then to fund purchase of rentals. I guess you miss me saying, if I lost all the money in the trading portfolio, won’t be trading anymore. If you’re referring those UPROs and SOXLs I bought - is tiny % of the portfolio - just to get myself into stock market now and then, a break from watching videos and Trump press conferences. Have not experience a medical crisis before, so don’t know what to expect. Seem quite serious if the whole world economy stalls.
Don’t drive your Tesla to Tahoe. It shouts out BA asshole breaking the quarantine. Might get your car vandalized or worst. Locals hated them before because they get stuck in the snow and symbolize the wealth disparity between the BA and elsewhere. In the coming chaos they could get you in big trouble.
The Mayor announced a $1000/day fine, during this crisis, on vacation rental usage. That means if a Tesla is parked in front of a vacation rental the neighbors will be calling cops.
I understand if Tesla car is not right for you and I might even understand if you don’t like their owners and/or crazy CEO but what I can’t understand is your Hate for the company. It’s American company making cars in America using American labor.
Why wouldn’t you want to see them succeed? Even if you think EVs are not the future, wouldn’t you rather see an American company at the top rather than a Chinese or European car company?
Don’t be a 4x2 
What is a GI cut, 4x4? Coconut cut? What I meant, don’t be so serious, be more carefree and relaxed!