I sold my tech positions in the last 6 weeks thinking rise in Covid cases will tank the market and we will see another March lows. I sold Amazon, Apple, Alibaba, Netflix. Had I not sold anything, I would be 100k+ based on today's stock price. I am the biggest idiot. #personalfinance #investments #stock
Be glad you didn’t play spy puts 🤷🏻♂️
I cant say I blame you for cashing out but I think the market shows it's better to trim under performing securities as opposed to throwing the baby out with the bath water. There's a lot of people who said they've cashed out on blind. I wonder how they all feel about it right now. I wish I bought more back in March. Oh well.
The government has short circuited capitalism. The whole point of markets is you take the risk, you get the reward. Here they're bailing out the equity holders and removing that risk. Unreal. Now the fed has signaled they'll buy corporate junk bonds. Companies will issue debt and use the proceeds to buyback shares, thus driving up their own share price. All backed by Uncle Sam, with not one bit of real economic benefit - nothing made, no one employed, nothing new discovered. I have a fair amount in the market as well, and I've left it there. I'll benefit from this bullshit because I'm in the top 3% of net worth, but it infuriates me. Half this country doesn't own any stocks whatsoever. People can't fucking feed their family or pay rent because they're unemployed through no fault of their own. It's not like these corporations would disappear if they declared bankruptcy. The only thing that would happen is they'd restructure, and debt holders will take ownership from equity holders.
I don't get Amazon and Apple valuation. How could they just keep going up? Same with Tesla. They are barely meeting expectations.
Looks like you've been reading a lot of propoganda on media. Unlike what you think the Fed is doing, try looking up why a QE != Bailout, why junk corporate bond etf != junk corporate bond, and finally the fact that to be eligible for corporate bond buying (not etf, actual bond), the company must be IG(investment grade, exact opposite of junk) before March
At least you took a profit right? No body know the top and bottom. what you get is experience.
Be patient. You’ll be able to buy them cheaper than today some time later, could be months could be years, but pretty much going to happen.
at least you have stonk to sell. I have nothing ☹️
You should never time the market..i learned that during covid..i also cashed out everything I had and made 7k loss..but market started going up against my prediction..i jumped back 1 month later..as of today, I have recovered 7k loss and made 4.5k profit..! So never time the market
You are an idiot for selling, that’s correct. But what is the question?
And you've got to pay tax on the gains this year.
Welcome aboard “The pirates of the stock market”!