Never fight against the fed - I am the biggest idiot

Google
frow

Go to company page Google

frow
Jul 9, 2020 26 Comments

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

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TOP 26 Comments
  • LinkedIn
    U💰S💰D

    Go to company page LinkedIn

    U💰S💰D
    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.
    Jul 9, 2020 7
  • 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.
    Jul 9, 2020 3
    • 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
      Jul 9, 2020
    • @Google Apple is a long story. Amazon I believe is now over priced. I can tell u about Tesla. Tesla made record deliveries last quarter in the thick of the pandemic. I believe what the market is pricing in, is that the bay area techies with huge increases in their stock/esop holdings, and a lack of availability of the option to spend on vacations/expensive services etc. Might end up buying a Tesla
      Jul 9, 2020
  • eBay
    ofmrna

    Go to company page eBay

    ofmrna
    Be glad you didn’t play spy puts 🤷🏻‍♂️
    Jul 9, 2020 0
  • Basecamp
    yIhi17

    Basecamp

    yIhi17
    Welcome aboard “The pirates of the stock market”!
    Jul 9, 2020 0
  • Your first mistake is having such a heavy position in 4 companies assuming this is a large percent of your portfolio.
    Jul 10, 2020 3