Buddy of mine who came into a little money recently for some reason asked me what he should do with with it. I told him "fvck if I know" and suggested he see the guy who handles my puny little portfolio and who has served me well. Buddy told me that my guy recommended just banking the money temporarily until after the first of the year, that if there was going to be a decline that was when it would bottom out, and that they expect the market to get strong again beginning in the second quarter. This all assumes a Biden victory.
Looks like Dow is telling Trump to start packing!
- Thread starter meridian
- Start date
They are all just guessing. Everyone in that business is always just guessing. But if you talk smooth enough you can convince people that you actually know what the hell you are talking about. I've reviewed reams of academic data on the markets to know they are all full of shit.
It's a sales job.... and the good ones are legit personal counselors that save people from their own worst instincts. That's about it.
Understood. And that's pretty much is what this guy has done for me. He really doesn't claim to know what the markets are going to do beyond knowing they'll be a little crazy in the short term when things are in flux and that it's best to not expect long term gains if you're not willing to be in the game for the long term.
My guess is pick a 70-30% mix of stock-bond ETFs that don’t cost to get. Make the mix across standard sectors. Buy reliable ETFs. Don’t buy any that are high relative to the market.
Sit and watch.
(Don’t waste money on an expert.)
Unfortunately, you did not understand why I posted what I posted. I posted it to get the reactions from our friends here. It was the most incredible number I can remember. In case you try to exaggerate/criticize what I said, the keywords are "AS I REMEMBER."
My post was to get the conversation going. It was not to critic Trump the hero of "the free market." There are hundreds of other things I can/could criticize Trump, the stock market performance is not one of them. I could have used the term "despite of," but that would be so corny
Furthermore, what is surprising to me about this pandemic is today's stock market performance is so independent of the economic condition. This is neither the praise nor the criticism of Trump. I have been trying to figure out but so far totally blank!
I am glad to hear that your investment is doing OK. Again, that is not my point at all! In fact, my portfolio has done quite well. Even after this week's clobbering, my Schwab portfolio is still ahead by $1M+. I have no reason to complain.
To answer another point of yours, no, I don't think I have posted about "the market vs Trump," except that one line comment you felt so sensitive about.
Last edited:
Similar threads
