What the "Dow" is happening?

[fortune11]

This is a classic example of why this whole business?s of financial advisory is the biggest scam yet

Market up - I told you so , didn?t I

Market down ? opportunity !  When is it an opportunity ? Down 2% down 5% down 10 % ?  They never tell you do they . ?

Then you Hear Mumbo jumbo about ?dollar cost averaging?

They can never lose , can they

reposting from back in October

 

[morekaos]

This is a classic example of why this whole business?s of financial advisory is the biggest scam yet

Market up - I told you so , didn?t I

Market down ? opportunity !  When is it an opportunity ? Down 2% down 5% down 10 % ?  They never tell you do they . ?

Then you Hear Mumbo jumbo about ?dollar cost averaging?

They can never lose , can they

reposting from back in October

And on that date the Dow was pretty much right where it is now...so?

 

[Irvinecommuter]

This is a classic example of why this whole business?s of financial advisory is the biggest scam yet

Market up - I told you so , didn?t I

Market down ? opportunity !  When is it an opportunity ? Down 2% down 5% down 10 % ?  They never tell you do they . ?

Then you Hear Mumbo jumbo about ?dollar cost averaging?

They can never lose , can they

reposting from back in October

And on that date the Dow was pretty much right where it is now...so?

Why do we need a financial adviser to tell me anything?

 

[fortune11]

This is a classic example of why this whole business?s of financial advisory is the biggest scam yet

Market up - I told you so , didn?t I

Market down ? opportunity !  When is it an opportunity ? Down 2% down 5% down 10 % ?  They never tell you do they . ?

Then you Hear Mumbo jumbo about ?dollar cost averaging?

They can never lose , can they

reposting from back in October

And on that date the Dow was pretty much right where it is now...so?

Point is simple - what is the ACTUAL content of the financial advisor ?advice?  - there is no SPECIFITY ? just an attempt to explain what happened (-after reading media) and / or handholding when clients are depressed (therapist) .

The burden of proof is on your profession . This is not directed at just you in particular

 

[morekaos]

This is a classic example of why this whole business?s of financial advisory is the biggest scam yet

Market up - I told you so , didn?t I

Market down ? opportunity !  When is it an opportunity ? Down 2% down 5% down 10 % ?  They never tell you do they . ?

Then you Hear Mumbo jumbo about ?dollar cost averaging?

They can never lose , can they

reposting from back in October

And on that date the Dow was pretty much right where it is now...so?

Why do we need a financial adviser to tell me anything?

Because in numerous instances stopping clients from committing financial suicide is the job.  Left to their own devices people act emotionally and in herds.  I know, you are smarter than that but I can tell you from experience that stopping clients from selling into pain or buying into euphoria (Bitcoin) can be a 24/7 job.  Also, making people do what they do not emotionally want to do (buy at lows) is Herculean.  Saying buy low and sell high sounds obvious and easy, in practice, it is not.  Buying cheap means everyone hates the asset and is trying to get out of it, selling expensive means everyone is fighting to buy it (houses in 2005). Paying for competent advice is a circuit breaker that keeps people from doing the wrong thing at the wrong time...when properly utilized it is worth every penny.

 

[Irvinecommuter]

This is a classic example of why this whole business?s of financial advisory is the biggest scam yet

Market up - I told you so , didn?t I

Market down ? opportunity !  When is it an opportunity ? Down 2% down 5% down 10 % ?  They never tell you do they . ?

Then you Hear Mumbo jumbo about ?dollar cost averaging?

They can never lose , can they

reposting from back in October

And on that date the Dow was pretty much right where it is now...so?

Why do we need a financial adviser to tell me anything?

Because in numerous instances stopping clients from committing financial suicide is the job.  Left to their own devices people act emotionally and in herds.  I know, you are smarter than that but I can tell you from experience that stopping clients from selling into pain or buying into euphoria (Bitcoin) can be a 24/7 job.  Also, making people do what they do not emotionally want to do (buy at lows) is Herculean.  Saying buy low and sell high sounds obvious and easy, in practice, it is not.  Buying cheap means everyone hates the asset and is trying to get out of it, selling expensive means everyone is fighting to buy it (houses in 2005). Paying for competent advice is a circuit breaker that keeps people from doing the wrong thing at the wrong time...when properly utilized it is worth every penny.

And yet you are a libertarian/conservative who believes that people are better of making their own decisions.

 

[fortune11]

And notice all the MAGA world hailing the tax cut as ?game changing?  last year ? Remember ?

Equity market is down now since the tax cuts were passed and the PE multiple has shrunk as well

SUGAR HIGH anyone ?

Never trust a conservative boomer age analyst  in financial media - be it online or on TV . Their political leanings and how it biases their commentary  become their downfall ...

 

[morekaos]

Ultimately, they do. I am more of a component of the decision making process.  Example,  at the beginning of the year I had several clients lusting to invests substantially in the Bitcoin market.  As you saw in the bitcoin thread I was aggressively against any such investment.  The clients, ultimatum made the decision to not enter that market, due to no small part to my opposition.  Now, although it is hard to prove a negative, I can tell you that if they had made those investments on their own they would have lost hundreds of thousands, perhaps millions of dollars.  I did not benefit financially from that (or lack there of) transaction.  However my clients do not see it that way and credit the guidance with saving them from themselves.  Our relationship adds value and therefore they see no problem in paying me for my advice and insight.

 

[Irvinecommuter]

And notice all the MAGA world hailing the tax cut as ?game changing?  last year ? Remember ?

Equity market is down now since the tax cuts were passed and the PE multiple has shrunk as well

SUGAR HIGH anyone ?

Never trust a conservative boomer age analyst  in financial media - be it online or on TV . Their political leanings and how it biases their commentary  become their downfall ...

Larry Kudlow is a joke now...the ultimate globalist shilling himself on tariffs.

Can't wait for Trump to hire Peter Schiiff and have Schiff come out and tell me how great deficits are.

 

[fortune11]

I think I speak for many people on this forum when I say this ?

MAGA supporters have used every opportunity last two years to litter this forum almost every day with hail trump and republican policies as the reason for the stock market miracle we got blessed with

And now when markets blow up , it is ?healthy? and ?much needed ? and ? nothing in the large scheme of things ?

The economic related posts have also died down relatively speaking

So what is it ? Have we decided yet

 

[Liar Loan]

And yet you are a libertarian/conservative who believes that people are better of making their own decisions.

To be a libertarian means you believe in maximizing personal liberty.  Seeking out the advice of an expert and engaging in private commerce is the very essence of liberty.  If investors don't like morekaos' advice, they are free to switch advisers or manage their own investments.  Nobody is putting a gun to their head.  Yet it also means they have to take personal responsibility for their own poor decisions, something many people don't like.

Expecting the government to fund your retirement and health care is anti-liberty.  It means you are willing to exchange your freedom for a feeling of security.  Most people would be much more secure if their payroll tax and medicare taxes were invested in the stock market and allowed to compound for 40 years, but they are willing to exchange all of that compounded wealth for a feeling of being secure that those tiny social security checks provide in old age.

 

[Irvinecommuter]

And yet you are a libertarian/conservative who believes that people are better of making their own decisions.

To be a libertarian means you believe in maximizing personal liberty.  Seeking out the advice of an expert and engaging in private commerce is the very essence of liberty.  If investors don't like morekaos' advice, they are free to switch advisers or manage their own investments.  Nobody is putting a gun to their head.  Yet it also means they have to take personal responsibility for their own poor decisions, something many people don't like.

Expecting the government to fund your retirement and health care is anti-liberty.  It means you are willing to exchange your freedom for a feeling of security.  Most people would be much more secure if their payroll tax and medicare taxes were invested in the stock market and allowed to compound for 40 years, but they are willing to exchange all of that compounded wealth for a feeling of being secure that those tiny social security checks provide in old age.

And what happens when a lot of people make bad mistake?  What if people who make right/proper choices but have bad things happen?  What if a person worked hard for his/her entire life and do the "right" things but then the world changes and destroys their savings/plans?  Do we just declare social bankruptcy and walkaway? 

That's the problem with Libertarians and the business mentality to running a nation/society.  You don't get to toss people aside when they no longer benefit society like you do with debts and debtors in bankruptcy.

 

[Liar Loan]

And what happens when a lot of people make bad mistake?  What if people who make right/proper choices but have bad things happen?  What if a person worked hard for his/her entire life and do the "right" things but then the world changes and destroys their savings/plans?  Do we just declare social bankruptcy and walkaway? 

That's the problem with Libertarians and the business mentality to running a nation/society.  You don't get to toss people aside when they no longer benefit society like you do with debts and debtors in bankruptcy.

I think you're kind of missing the point, which is your prior characterization of libertarians was incorrect.

 

[paperboyNC]

Most people would be much more secure if their payroll tax and medicare taxes were invested in the stock market and allowed to compound for 40 years, but they are willing to exchange all of that compounded wealth for a feeling of being secure that those tiny social security checks provide in old age.

https://www.statesman.com/business/20140214/report-more-us-workers-cashing-out-401k-accounts

 

[Liar Loan]

Most people would be much more secure if their payroll tax and medicare taxes were invested in the stock market and allowed to compound for 40 years, but they are willing to exchange all of that compounded wealth for a feeling of being secure that those tiny social security checks provide in old age.

https://www.statesman.com/business/20140214/report-more-us-workers-cashing-out-401k-accounts

Congress cashes out the Social Security trust fund and private workers cash out their 401(k)'s.  The irony is rich, isn't it?

 

[eyephone]

I think I speak for many people on this forum when I say this ?

MAGA supporters have used every opportunity last two years to litter this forum almost every day with hail trump and republican policies as the reason for the stock market miracle we got blessed with

And now when markets blow up , it is ?healthy? and ?much needed ? and ? nothing in the large scheme of things ?

The economic related posts have also died down relatively speaking

So what is it ? Have we decided yet

To describe it best. It?s like a troll farm. For example they said that they didn?t see a salt cap reductions when they did their taxes early this year. (Which is for tax year 2017)
No shit the cap on salt deductions is for fiscal year 2018.

So they try to spread false rumors that there?s no effect because of the new tax law. Who called them out? Of course I did.

 

[fortune11]

I wrote a lengthy post on this ?libertarian ? b/s fantasy that many republicans have , especially in OC .

They read ayn rand and get a hard on and think they are John Wayne or John galt

True libertarianism may have worked when this was an empty land (let?s not even consider the natives yet) and you could build a self sustaining life on a farm of your choice .

Now every single thing you do has an externality as you are always connected to other citizens . Ever buy insurance for your business  libertarians? 

 

[Halos]

You guys' think this sucker has more room to run? Or are you in the plateau camp  ;D

 

[Irvinecommuter]

I wrote a lengthy post on this ?libertarian ? b/s fantasy that many republicans have , especially in OC .

They read ayn rand and get a hard on and think they are John Wayne or John galt

True libertarianism may have worked when this was an empty land (let?s not even consider the natives yet) and you could build a self sustaining life on a farm of your choice .

Now every single thing you do has an externality as you are always connected to other citizens . Ever buy insurance for your business  libertarians?

I always thought that economic libertarian philosophies were there to make rich people (or people who think they will become rich) feel morally and socially superior and served as an excuse as to why rich people don't have to care about those not as rich.  Basically, you get what you deserved and that being rich makes you somehow a better or smarter person. 

Trump is classic example of this.

 

[Irvinecommuter]

Another 500 points!  It's like monopoly money at this point. 

hmm...awfully quiet from Trump and his "economic advisers"