Down goes the Dow

Sh||tcoin Gambler wrote:

carmine9 wrote:

s+p 500 down 21.5% YTD.

NASDAQ probably far worse

Bitcoin is down 16% in the last 24hrs and now 52.13% YTD. Comparing something intrinsically worthless to other assets like stocks and real estate is absurd. But I think real estate and S&P will hold value much better than all the shtcoins over the next 2 years. My own valuation of bitcoin and all the other shtcoins is $0 USD fiat because it’s complete dogsh*t, serves no purpose in society, and the price it trades for doesn’t change that. long-term investment thesis for the S&P is strong so I’m happy to ride out the ups and downs long term. I would much rather own real companies that do real things than bags of hot air/dog turds that don’t do anything (ie crypto), but during these Covid stimulus times, these delusional libertarian morons (ie fans of Elon Musk, Jack Dorsey, Michael Saylor, Cathy Wood, Vitalik Buterin, etc) were all over YouTube telling me to HFSP/HFBP because they wanted to bet on the latter in hopes of getting rich quickly due to a mania during this delusional euphoria period following Covid stimulus monies and I think they lost and it won’t come back. Just 4months to a year ago, I had idiots commenting to me on youtube saying I want my 100%-300% return annually, just zoom out, etc, not the lousy 7 to 10% average return in the S&P. ROFL 🤣

Even politicians fell for the scam. sad 😞

Some libertarian Americans hoping to change their financial fortunes talked crypto shtcoins at the dinner table during Thanksgiving, 2021, and convinced family members to put retirement money into crypto at 60k/coin in November, 2021. Sad 😞

Some super bowl fans listened to Lebron, Tom Brady, Matt Damon, etc and bought crypto at ~42k in Feb 2022 and fell for it too. Sad 😞

agip wrote:

Sh||tcoin Gambler wrote:

Bitcoin is down 16% in the last 24hrs and now 52.13% YTD. Comparing something intrinsically worthless to other assets like stocks and real estate is absurd. But I think real estate and S&P will hold value much better than all the shtcoins over the next 2 years. My own valuation of bitcoin and all the other shtcoins is $0 USD fiat because it’s complete dogsh*t, serves no purpose in society, and the price it trades for doesn’t change that. long-term investment thesis for the S&P is strong so I’m happy to ride out the ups and downs long term. I would much rather own real companies that do real things than bags of hot air/dog turds that don’t do anything (ie crypto), but during these Covid stimulus times, these delusional libertarian morons (ie fans of Elon Musk, Jack Dorsey, Michael Saylor, Cathy Wood, Vitalik Buterin, etc) were all over YouTube telling me to HFSP/HFBP because they wanted to bet on the latter in hopes of getting rich quickly due to a mania during this delusional euphoria period following Covid stimulus monies and I think they lost and it won’t come back. Just 4months to a year ago, I had idiots commenting to me on youtube saying I want my 100%-300% return annually, just zoom out, etc, not the lousy 7 to 10% average return in the S&P. ROFL 🤣

Even politicians fell for the scam. sad 😞

Some libertarian Americans hoping to change their financial fortunes talked crypto shtcoins at the dinner table during Thanksgiving, 2021, and convinced family members to put retirement money into crypto at 60k/coin in November, 2021. Sad 😞

Some super bowl fans listened to Lebron, Tom Brady, Matt Damon, etc and bought crypto at ~42k in Feb 2022 and fell for it too. Sad 😞

the sad part is that their losses in btc will make many disillusioned with investing and they'll walk away from it. Saying they always lose. Esp as they are losing in stocks and bonds now at the same time.

Which explains why there is so little wealth passed on generation to generation in this massively rich nation. Americans are bad long term investors.

Although I think making target date funds the default in most 401ks is going to make a big difference, I think. Those are great, great. great innovations for individual investors. And should help families build up large stores of wealth.

Ghost of Igloi wrote:

agip wrote:

the sad part is that their losses in btc will make many disillusioned with investing and they'll walk away from it. Saying they always lose. Esp as they are losing in stocks and bonds now at the same time.

Which explains why there is so little wealth passed on generation to generation in this massively rich nation. Americans are bad long term investors.

Although I think making target date funds the default in most 401ks is going to make a big difference, I think. Those are great, great. great innovations for individual investors. And should help families build up large stores of wealth.

When the Fed enabled politicians to do stupid stuff that should be expected. You flood the market with liquidity, drive interest rates to zero, then some are surprised with the result. Crypto, SPACs, meme stocks, real estate triples, used cars triples, Cathy Wood stocks fad, and even the most idiotic company stock gets a through the roof bid. You see the company names, the weirdest, most cool hipster, explodes higher only to burn like the Hindenburg. Poetic justice only beginning to be delivered.

Ghost of Igloi wrote:

agip wrote:

the sad part is that their losses in btc will make many disillusioned with investing and they'll walk away from it. Saying they always lose. Esp as they are losing in stocks and bonds now at the same time.

Which explains why there is so little wealth passed on generation to generation in this massively rich nation. Americans are bad long term investors.

Although I think making target date funds the default in most 401ks is going to make a big difference, I think. Those are great, great. great innovations for individual investors. And should help families build up large stores of wealth.

When the Fed enabled politicians to do stupid stuff that should be expected. You flood the market with liquidity, drive interest rates to zero, then some are surprised with the result. Crypto, SPACs, meme stocks, real estate triples, used cars triples, Cathy Wood stocks fad, and even the most idiotic company stock gets a through the roof bid. You see the company names, the weirdest, most cool hipster, explodes higher only to burn like the Hindenburg. Poetic justice only beginning to be delivered.

agip wrote:

Ghost of Igloi wrote:

When the Fed enabled politicians to do stupid stuff that should be expected. You flood the market with liquidity, drive interest rates to zero, then some are surprised with the result. Crypto, SPACs, meme stocks, real estate triples, used cars triples, Cathy Wood stocks fad, and even the most idiotic company stock gets a through the roof bid. You see the company names, the weirdest, most cool hipster, explodes higher only to burn like the Hindenburg. Poetic justice only beginning to be delivered.

what does 'drive rates to zero mean?" In a loan there's a lender and a borrower. They find a happy medium and the market clears. there is massive demand for bonds from borrowers, and we had a low-inflation enviro. So the interest rates were low. This fantasy where the Fed is an all-powerful god is just so nuts to me. They control one interest rate and maybe reduce longer rates by 20-50 bps max. Big frikken deal.

Abd there has been speculation in crazy stuff since investing was invented. Humans don't need the Fed to have speculative craziness. Ask Isaac Newton.

Ghost of Igloi wrote:

agip wrote:

what does 'drive rates to zero mean?" In a loan there's a lender and a borrower. They find a happy medium and the market clears. there is massive demand for bonds from borrowers, and we had a low-inflation enviro. So the interest rates were low. This fantasy where the Fed is an all-powerful god is just so nuts to me. They control one interest rate and maybe reduce longer rates by 20-50 bps max. Big frikken deal.

Abd there has been speculation in crazy stuff since investing was invented. Humans don't need the Fed to have speculative craziness. Ask Isaac Newton.

Come on, that is silly. The Fed purchased $5 Trillion in bonds from 4/2020 thru 2/2022. Prior to that they purchased $3.4 Trillion in bonds from 2/2008 thru 2/2022. Meanwhile the Federal government reduced tax, shoved money out the door as there would never be any consequences. Guess what? Wrong, 40 year inflation high. Really dumb, not deserving of hero worship. All of them. Stupid turds.