Stock Market

[CATCH17]

Any thoughts on Exxon? XOM

It’s incredibly low right now...

 

[Vintage]

I had most of my funds in my 401k in a SV fund for awhile (I feared correction; wasn’t counting on it coming from this). I lost out on some gains for sure, but I’ve been pretty insulated from this slide. That was blind luck and perhaps some stupidity on my part.

I’m itching to pull the trigger to re-enter....

 

[YosemiteSam]

Any thoughts on Exxon? XOM

It’s incredibly low right now...

There is a oil war happening right now between Russia and OPEC. A month ago, oil was in the $60s per barrel. The other day, it reached $20/barrel. It's something like $23 right now.

At some point the price will go back up though. The question is, what damage will have been done.

 

[Bigdog]

I lost a lot in my Roth but not worried at all since I don’t need it for another 20 years. What I am more concern about is I lost a lot on my kids educational IRAs for their college since they are going next year. I thought my financial advisor switched their accounts over to a more conservative funds last month or at least that what he told me he was going to do. I called the fund company last week to ask them something and asked what I had in their accounts. When they told me I was in total shock. I called my advisor re: this and he has not called me back yet.

 

[YosemiteSam]

I lost a lot in my Roth but not worried at all since I don’t need it for another 20 years. What I am more concern about is I lost a lot on my kids educational IRAs for their college since they are going next year. I thought my financial advisor switched their accounts over to a more conservative funds last month or at least that what he told me he was going to do. I called the fund company last week to ask them something and asked what I had in their accounts. When they told me I was in total shock. I called my advisor re: this and he has not called me back yet.

Ouch. This is why I manage my own stuff.

Trust is earned and not handed out. I don't know any financial advisers that I trust.

 

[Vintage]

I lost a lot in my Roth but not worried at all since I don’t need it for another 20 years. What I am more concern about is I lost a lot on my kids educational IRAs for their college since they are going next year. I thought my financial advisor switched their accounts over to a more conservative funds last month or at least that what he told me he was going to do. I called the fund company last week to ask them something and asked what I had in their accounts. When they told me I was in total shock. I called my advisor re: this and he has not called me back yet.

Do you have proof? Were you on a recorded line at all (from their end)?

 

[Bigdog]

Do you have proof? Were you on a recorded line at all (from their end)?

Not sure. It was a conversation over the telephone with my financial advisor who I have had for over 19 years. He said he was going to move the funds over to more conservative but don’t know when he was going to do it. I thought he said that day and that was in early Feb. I am just trying to figure out if ever happen. Nothing I can do it about it. The stock market will bounce back. It always does.

 

[Bigdog]

Ouch. This is why I manage my own stuff.

Trust is earned and not handed out. I don't know any financial advisers that I trust.

I have this guy for over 19 years and he is very honest. I am hoping that it it was done and the fund company gave me the wrong amount. I am just waiting for my financial advisor to get back to me to see what happen. Nothing anyone can do it about now. Life goes on.

 

[Robbieac]

I have this guy for over 19 years and he is very honest. I am hoping that it it was done and the fund company gave me the wrong amount. I am just waiting for my financial advisor to get back to me to see what happen. Nothing anyone can do it about now. Life goes on.

Ive noticed that even my very conservative investments including bonds have taken a big hit. Maybe he did make your kids investments “more conservative”, but nowadays even that hasn’t helped the money losses much.

 

[Vintage]

I have this guy for over 19 years and he is very honest. I am hoping that it it was done and the fund company gave me the wrong amount. I am just waiting for my financial advisor to get back to me to see what happen. Nothing anyone can do it about now. Life goes on.

It’s worth finding out and also following up on what robbieac said above too, as that could be an explanation.

I’m not sure in the realm of 529s. But in 401kland, calls are recorded, and corrections are made to make participant’s whole.

 

[Bigdog]

It’s worth finding out and also following up on what robbieac said above too, as that could be an explanation.

I’m not sure in the realm of 529s. But in 401kland, calls are recorded, and corrections are made to make participant’s whole.

Ok thanks. I put calls into my financial advisor. Just waiting for him to reply. It is educational IRA and since my daughters turned 18 in November I can’t put any more money in it. Which kinda stinks because I can’t take advantage of the low price right now to buy more. It is what it is though.

 

[morasp]

I totally pulled out today. I had been pulling some along the way after initially standing put and why I hadn’t responded lately.

Basically lost the gains from last 3 years. Hopefully live for another day. And ride the wave back up again. Bought in initially very low so after all these years still almost tripled investment.

I just might not live long enough to see it rebound . If I contract this virus myself will struggle to survive with my underlying conditions.

This pandemic doesn’t appear to be flattening as America isn’t heeding the warnings. A total shutdown appears inevitable which will devastate our economy.

The choice or balance between saving the economy versus lives.

Good move, there will be plenty of time to get back in could be this year or it could be next.

 

[morasp]

Ouch. This is why I manage my own stuff.

Trust is earned and not handed out. I don't know any financial advisers that I trust.

Right before this crash Fidelity was pushing hard to let them handle my money and I basically told them the same thing. I mentioned risk and they gave me the old cliché that not being in the market is risky due to inflation.

 

[shabazz]

I’m not an expert. I'm not even a big time investor. Just relaying my choices.

Obviously oil is ripe for the picking so the only thing one needs is expendable money to Be active in this venture, so of course this is a no brainer if one know how to handle commodities. However I just invested 40k in a top 5 Airline and an entity that has a portfolio consisting in 50% casinos, 25% sports betting, and 25% online gaming.

There isn’t any expertise here, because this is is like shooting fish in a barrel or throwing a dart against an entire wall. Virtually any investment will have great returns. I picked a particular Airline because I believe they are uniquely suited to come out stronger than the others and with the casinos . I didn’t want to just pick a company like Wynn, or Sands so I picked a company that has a casino, betting and gaming portfolio...as I like the other elements of betting and gaming to hedge my bets,( no pun intended)

Lastly, I don’t want anybody to believe that this is the best way to Go and more importantly with the loss of jobs during this crisis it’s essential to have an emergency fund first and foremost. This cash Is available because I had a larger amount that I was putting in CD’s from bank to bank just rate shopping and we all know that one trick pony is over for now

Just one non- experts thought process.

 

[Tabascocat]

I’m not an expert. I'm not even a big time investor. Just relaying my choices.

Obviously oil is ripe for the picking so the only thing one needs is expendable money to Be active in this venture, so of course this is a no brainer if one know how to handle commodities. However I just invested 40k in a top 5 Airline and an entity that has a portfolio consisting in 50% casinos, 25% sports betting, and 25% online gaming.

There isn’t any expertise here, because this is is like shooting fish in a barrel or throwing a dart against an entire wall. Virtually any investment will have great returns. I picked a particular Airline because I believe they are uniquely suited to come out stronger than the others and with the casinos . I didn’t want to just pick a company like Wynn, or Sands so I picked a company that has a casino, betting and gaming portfolio...as I like the other elements of betting and gaming to hedge my bets,( no pun intended)

Lastly, I don’t want anybody to believe that this is the best way to Go and more importantly with the loss of jobs during this crisis it’s essential to have an emergency fund first and foremost. This cash Is available because I had a larger amount that I was putting in CD’s from bank to bank just rate shopping and we all know that one trick pony is over for now

Just one non- experts thought process.

Virgin or Allegiant?

I’m going oil soon myself, just not quite yet.

 

[Rockport]

Ouch. This is why I manage my own stuff.

Trust is earned and not handed out. I don't know any financial advisers that I trust.

How many financial advisors do you know?

Folks, be careful taking advice from someone on an internet message board. There are indeed many financial advisors out there. Many charge a % of your balance and no other fees so the more you make the more they make. I’m not advising to go out and get an advisor, just saying don’t pay much attention to anyone here, including me, who act like they know everything there is about Wall Street.

 

[shabazz]

Really it’s one of the top 3 Airlines. I was told once before, by a mod not to mention the names of companies and to keep things ambiguous. I know numerous members of their leadership and am aware of the steps they had taken early on such as voluntary unpaid time off by their employees, early canceling of 3rd party maintenance, postponing of modifications such as Wi-FI modifications which are extremely costly.

BTW, one of the Airlines is reinstating some international flights to bring more citizen support home

But like I said before, it’s just a matter of time before all these companies get back on their feet, they may not get back to all time highs too soon but I can see their values doubling in a 6-8 month range which will outperform any CD on the planet

 

[shabazz]

Virgin or Allegiant?

I’m going oil soon myself, just not quite yet.

Look it up but I understand that their oil contract expires at the end of this month. If it’s not renewed there may be an opportunity to get it even cheaper. Here’s an excerpt. Best of luck

“The meeting also concluded with no directive about the production cuts that are currently in place but set to expire at the end of the month. This effectively means that nations will soon have free rein over how much they pump.”


https://www.cnbc.com/2020/03/08/oil...opec-deal-failure-sparks-price-war-fears.html

 

[YosemiteSam]

Here is a great video for you guys to watch. I've always said most people do not have any idea how the economy actually works. (credit, interest, growth, contraction, etc) This pretty much explains it.

Watch the whole thing, but pay very close attention to the deleveraging portion and where interest rates are. Depression portion. Then look around you and see what is happening...

 

[nightrain]

Any thoughts on Exxon? XOM

It’s incredibly low right now...

The problem with energy stocks is that with oil prices so low it will make no sense to maintain exploration operations. Better to jump in a little late (when global conditions improve) than too early.