OT - Dow plunges 1,175 - worst point decline in history

[cash05458]

I am not a finance economy fellow...but watching, say, the guardian, literally gaslight normal americans for knowing/feeling the economy isn't in good shape and stating that they are listening to propaganda to think otherwise as the economy is in such fantastic shape...

And then this just this morning, says a good bit to me...

https://www.theguardian.com/business...-markets-slump

[Ken Robb]

Originally Posted by redir

All because of a dumb jobs report.

Well, there might be some other influences like a major dispute in the Middle East.

[jamesdak]

LOL, figures! I'm withint about a week of deciding if I'm retiring early. A guess on a positive note, my investments really aren't part of my retired living budget plans so there is that.

[unterhausen]

Last year sometime, I moved my retirement around in TIAA. Through an oversight, it all went into stocks. So my returns on that account have been really good because of the bubble. Just rebalanced it a week ago. Also rolled over a mostly stock account last week. So that money is currently in cash. Better to be lucky than good, I think.

[tylercheung]

Originally Posted by C40_guy

Speaking as an economist...

It depends.

ah the dismal science!

[the bottle ride]

Originally Posted by redir

All because of a dumb jobs report.

The discretionary Sahm rule in effect…. Of course we will see revisions (regardless of administration)

By almost every single measure stocks were expensive- it’s healthy to have a pull back.

I think it is always important to remind ourselves that trees don’t grow to the sky.

[kppolich]

Nice little buying opportunity this morning, ey?

[fa63]

And algorithmic trading

Originally Posted by redir

All because of a dumb jobs report.

[Cyzemup]

Originally Posted by kppolich

Nice little buying opportunity this morning, ey?

That’s if you had access to your account…

[makoti]

Originally Posted by jamesdak

LOL, figures! I'm withint about a week of deciding if I'm retiring early. A guess on a positive note, my investments really aren't part of my retired living budget plans so there is that.

I retired at the peak of covid, just as the economy faltered, inflation exploded, and a war was on its way.
Textbook bad time to retire.
So far, so good. Recovered what I lost (today not included) and then some, and I expect the same will happen here. The key for me was I didn't really have to take much out of my investments to live, so they were able to bounce back.

[deluz]

I read this was due to overvalued stocks and signs of a recession but this is all really my fault, the market opposes to whatever I do.
My 401K was not going anywhere this year so I put some of my money into an aggressive growth fund (after all the gains were already made) and that is when the market crashed. I figure I have lost $15K since doing that. I am absolutely sure if I took my money out the market would instantly rebound. But no, I am not going to take the loss and leave it in so you can look forward for a further downturn in the market.

[redir]

I think it's gonna blow over. The thing about the jobs report is that it is as it is becasue everyone is employed. Also construction and service sector is still hiring. I think the Wall St. Tycoons love to take advantage of an iffy jobs report. It literally happens every time. Take advantage of the down turn then turn it back up.

[Elefantino]

I don't have much hair left to set on fire.

[jamesdak]

Originally Posted by makoti

I retired at the peak of covid, just as the economy faltered, inflation exploded, and a war was on its way.
Textbook bad time to retire.
So far, so good. Recovered what I lost (today not included) and then some, and I expect the same will happen here. The key for me was I didn't really have to take much out of my investments to live, so they were able to bounce back.

Yep, thanks for the confirmation on how I see it.

It's all about quality of life for me. That means time is way more valuable to me then money. Sort of the same reason I've stayed at my current job for years vs chasing promotions and raises. I get off pretty much everyday at 2:30 and go home to ride. Way more valuable to me then more salary.

And a belated congrats on the retirement.

[tv_vt]

I thought this was interesting. It's very hard to 'play' the market. Will just ride this out. Don't need to draw on principal now anyway.