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

[Tony T]

Today we had the 2nd worst point decline in history: -1,033

Ugly 5 day chart:

[soulspinner]

Another correction. Hang in. Its way up over the last year.

[NYCfixie]

Long term it does not matter.

As of Monday, all upside since 12/1/17 was wiped out. Now it appears we are going farther back. Buy in now - for the long term - peeps while the gettin is good.

[Tony T]

NYT: Don't worry:
Few Americans Own Stocks, So Few Are Affected by Slump

The riotous market swings that have whipped up frothy peaks of anxiety over the last week have virtually no impact on the income or wealth of most families. The reason: They own little or no stock.

“For the vast majority of Americans, fluctuations in the stock market have relatively little effect on their wealth, or well-being, for that matter,” said Edward N. Wolff, an economist at New York University

Fake News! (really, this can't be true)

[kppolich]

again, bought a little more today

[saab2000]

Originally Posted by NYCfixie

Long term it does not matter.

As of Monday, all upside since 12/1/17 was wiped out. Now it appears we are going farther back. Buy in now - for the long term - peeps while the gettin is good.

I agree that it doesn't matter in the long term. There's no way the market's rises over the past year or even five were sustainable.

I'm making no changes to my long-term financial planning. Continual monthly contributions to low-cost index funds is what I plan to keep doing.

[unterhausen]

makes me wonder if next week is the big drop. Oh, well, at least my ophthalmologist is not going to bleat about the rise in his portfolio supporting his politics like he did the last appointment.

I'm a little worried that people are going to be buying the kinds of investments that I have. Although I'm not putting any more in right now, so it doesn't really matter.

[joosttx]

Originally Posted by NYCfixie

Long term it does not matter.

As of Monday, all upside since 12/1/17 was wiped out. Now it appears we are going farther back. Buy in now - for the long term - peeps while the gettin is good.

Not mine. Good luck

[echappist]

Originally Posted by kppolich

again, bought a little more today

as i have a pension, i'm buying on the dip now. Somewhat more palatable when the "security" I sell is the appreciating one (TSP G-Fund).

Harder to do is to sell bond index fund on the decline to buy more in my Roth account

[likebikes]

Originally Posted by unterhausen

I'm a little worried that people are going to be buying the kinds of investments that I have. Although I'm not putting any more in right now, so it doesn't really matter.

what type of investments do you have?

[Louis]

Originally Posted by likebikes

what type of investments do you have?

Campy Delta brakes:

[tuscanyswe]

Originally Posted by Louis

Campy Delta brakes:

Aha the risk free investment.

[oldpotatoe]

Originally Posted by Tony T

NYT: Don't worry:
Few Americans Own Stocks, So Few Are Affected by Slump

The riotous market swings that have whipped up frothy peaks of anxiety over the last week have virtually no impact on the income or wealth of most families. The reason: They own little or no stock.

“For the vast majority of Americans, fluctuations in the stock market have relatively little effect on their wealth, or well-being, for that matter,” said Edward N. Wolff, an economist at New York University

Fake News! (really, this can't be true)

LOTSA 401ks and other pension plans are effected by this..

[sitzmark]

Originally Posted by Louis

Campy Delta brakes:

Very well played ...

fitting analogy for the markets - value based on functional performance/return or collectability/trade value.

[verticaldoug]

Originally Posted by Tony T

NYT: Don't worry:
Few Americans Own Stocks, So Few Are Affected by Slump

The riotous market swings that have whipped up frothy peaks of anxiety over the last week have virtually no impact on the income or wealth of most families. The reason: They own little or no stock.

“For the vast majority of Americans, fluctuations in the stock market have relatively little effect on their wealth, or well-being, for that matter,” said Edward N. Wolff, an economist at New York University

Fake News! (really, this can't be true)

Actually it is true, but what it implies is far worse than you realize. It is not that Americans haven't invested in the market, it is most American have no savings (wealth) to invest in the markets. 5% of Americans control more than 50% of the wealth. 60% of the American population holds 4.2% of the wealth. So yes, vast majority of Americans are not affected by the markets since that is primarily a wealth effect. Income is a different matter.....