Opportunity of a generation
Is my summary of an article shared by the guardian this afternoon:
33 years since the shit hit the fan in similar epic proportions - how many of you were alive/able to take advantage of that opportunity?
Gold looks high, but stocks and crypto (for potentially other reasons than just beer), look low today, and I’ve bought a little.
Infections and deaths wise, Covid-19 probably hasn’t even started yet but I think the market will/has react/reacted sharply, and it’ll be a steady recovery from there.
My shitty pension pot has just been battered, and if Id saved the equivalent in cash for the last X years, today could well of been the day I’d lumped on the indexes.
Not financial advice, just me and a couple of beers talking.
Cheers all x
—————-
A day later:
Is the bottom in, or is there more to go?
Wish I had some cash :/
I'm sure some people will profit from this. I may buy more Steem to power up. Its a good thing I don't need my pension for a few years.
Pensions are for people who will survive that long... the trick is, have a lot of unhealthy vices. ;)
Well I may not have that long before I retire. If Steem doesn't moon I will need something else to live off. Life is about quality as well as quantity, but it doesn't have to be unhealthy.
My retirement fund says - I should smoke, drink and eat a lot more junk food.
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The bubbles may burst, but the bubble making machine keeps blowing out new bubbles. Housing market crash did not stop me from buying and selling. If I had disposable income, I would have to look hard at the coming days. I still think that the corona virus 19 is mostly hype. There have been more deaths from the plain old vanilla flu than corona virus, yet it is not an epidemic. The epidemic is how people and media and governments are reacting to the threat.
Yes, it feels like Corona virus is the scapegoat that points the blame away from greedy central banks and corporations.
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And here I am keeping my kid from school.
School is mostly propaganda anyway...
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Public school is a place were kids learn to be subjugated.
Gotta get them ready for the real word at a young age.
Good points! I moved some money around early this morning so I could pick up some stocks that I am hoping will have a pretty decent run. I also snagged a fraction of some BTC when it dropped below 6000.
Damn, I wish I would have been Buying Puts all this time
Wish I could afford to take advantage, but ya know. I've heard stories of young people bitching that their 401(k)s are down and I'm like ...you're not going to retire for like 30 years, calm down, it's better to have this happen NOW than THEN. But people are going to panic, because people. It's the soon-to-retirees who have the right to worry about it!
!BEER
Very true - this past month hasn’t been great for new retirees but there is time for most of us.
View or trade
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Too early to bet it all, but not a bad time to go shopping with some of it.
Korea is still at 2008 levels, but we may see 1997 levels soon and that was bad. In 1987 weren't interest rates decent? Now they are 0~1.5 in most places.
Just wait until every country has too many infected to bother testing, that's when it's a great time to buy. I wonder if the markets will close?
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So much hype... the CNN "Fear and Greed Index" actually hit 1 today, for the first time in the index's history... the scale is 1 to 100, with 1 representing a sentiment of extreme fear and 100 represented a sentiment of extreme greed, as it relates to people's underlying motivations for engaging in financial activity. It's as low as it can go.
Had an email from a friend who lives in South Korea. He pointed out that even though Korea was one of the first hard hit nations, life there is slowly returning to normal, and the number of new cases reported daily continues to decline. He also opined that the surrounding circus of fear is FAR more a political statement, than a health-related statement.
Either way, we have no money... but at current prices, it's certainly worth reinvesting any and all gains and earnings from crypto.
Covid-19 wasn't the cause of the crisis, it was just the trigger! So curing the disease won't cure the crisis as there is an underlying greater disease.
You are likely right here.
There is more to go, at least from an equities perspective.
If you are flagging you should give a reason. I wonder if you are anti-semitic.
Your are the last person on Steem who deserves a flag @hebrew. I need not read this persons posts to know what it's all about.
Watching your back.
Tops are bottoms are hard calls. People do get lucky sometimes... but that’s all it’s luck. I never traded FTSE much... even during my days. But 1600 on ES or S&P 500 looks like a good spot, which is about 800 point away.