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Thread: The 2015 Market Crash

  1. #211

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    Quote Originally Posted by creekster View Post
    I will probably regret this, but I don't think that is what he said at all. And what sort of victory are you trying to win here? Did somebody pee in your cheerios this morning? All I got out of MOl's orig post (which I have not reviewed) was a rather brusque comment that if PAC lost $$ at his age due to having a lot in equities that he got what he deserved. Which is true, if not very friendly, but also not at all what you just described. And then Moli said his old man pulled out of the market for his mission presidency, making clear that he did so without regard to investment principles, and then said (2x) that pops lucked out by being able to buy when the market was low after leaving it high and missing the crash. No timing, just luck.

    I certainly agree with the principles that you have been promoting, as it pretty much describes the plan I am following, but I really dont see what it is you are so strenuously objecting to with Moli here. Can't we all just get along?
    You forgot about the part when Moli totally dissed JL's retirement account when he compared it to his Dad's.

  2. #212
    It is NOT a monkey! creekster's Avatar
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    Quote Originally Posted by Northwestcoug View Post
    You forgot about the part when Moli totally dissed JL's retirement account when he compared it to his Dad's.
    totally.
    PLesa excuse the tpyos.

  3. #213
    The dude abides Jeff Lebowski's Avatar
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    Default The 2015 Market Crash

    Quote Originally Posted by Northwestcoug View Post
    You forgot about the part when Moli totally dissed JL's retirement account when he compared it to his Dad's.
    Yes! That was super mean.

    Seriously, I am happy for Moli's dad. And it seems that Moli can throw caution to the wind when it comes to his retirement planning. If everything goes south, he can always inherit money from his old man!
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  4. #214

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    Quote Originally Posted by creekster View Post
    I think there is a compliment for BYU71 in there!
    I read it as a qualified statement of acceptability. Kind of like "any two bit hustler knows to do Monte Carlo simulations in order to assess risk. Even byu71 probably does this, right?"

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    It is NOT a monkey! creekster's Avatar
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    Quote Originally Posted by Applejack View Post
    I read it as a qualified statement of acceptability. Kind of like "any two bit hustler knows to do Monte Carlo simulations in order to assess risk. Even byu71 probably does this, right?"
    Overcome the natural utah man; think half full, man, half full!
    PLesa excuse the tpyos.

  6. #216
    The dude abides Jeff Lebowski's Avatar
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    Dang it you guys. Stop trying to turn my dear friend BYU71 against me!


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  7. #217
    Senior Member byu71's Avatar
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    Quote Originally Posted by Jeff Lebowski View Post
    Dang it you guys. Stop trying to turn my dear friend BYU71 against me!


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    Yea, go wreck someone else's long time friendship. Ours is solid.

  8. #218
    Royal Rooter Green Monstah's Avatar
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    For a late-30s professional guy with a decent chunk of student debt (aggressively repaying), how much cash is an appropriate amount to have in savings?

    Between my employer's contributions and my 401k match, I get 22% of my annual salary and bonus deposited in retirement accounts, so I don't feel a ton of pressure there. I have about six months of salary in savings, and I keep grappling with the idea that I should use a big chunk to knock out some student loans that have 6.55 and 7.65 interest rates.

    If you are me, do you pay down the debt and keep only emergency cash (3 months), or do I stick with 6 months? (Keep in mind: I've paid down around 90k in student loans the last three years, so I am making large, chunk payments; I just work in a volatile industry where I can go from superstar to unemployed with a ten dollar decrease in the price of crude).
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  9. #219
    The dude abides Jeff Lebowski's Avatar
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    Quote Originally Posted by Green Monstah View Post
    For a late-30s professional guy with a decent chunk of student debt (aggressively repaying), how much cash is an appropriate amount to have in savings?

    Between my employer's contributions and my 401k match, I get 22% of my annual salary and bonus deposited in retirement accounts, so I don't feel a ton of pressure there. I have about six months of salary in savings, and I keep grappling with the idea that I should use a big chunk to knock out some student loans that have 6.55 and 7.65 interest rates.

    If you are me, do you pay down the debt and keep only emergency cash (3 months), or do I stick with 6 months? (Keep in mind: I've paid down around 90k in student loans the last three years, so I am making large, chunk payments; I just work in a volatile industry where I can go from superstar to unemployed with a ten dollar decrease in the price of crude).
    Tough call. Six months would be a lot more comfortable, but would be nice to eliminate that interest more rapidly.

    Do you have home equity? You could take out a line of credit and keep that ready in case of job loss. That would potentially justify reducing your stash of cash to a 3-month supply.
    "There is no creature more arrogant than a self-righteous libertarian on the web, am I right? Those folks are just intolerable."
    "It's no secret that the great American pastime is no longer baseball. Now it's sanctimony." -- Guy Periwinkle, The Nix.
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  10. #220
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    Quote Originally Posted by Jeff Lebowski View Post
    Tough call. Six months would be a lot more comfortable, but would be nice to eliminate that interest more rapidly.

    Do you have home equity? You could take out a line of credit and keep that ready in case of job loss. That would potentially justify reducing your stash of cash to a 3-month supply.
    Or perhaps use the home equity/line of credit to pay down student loans. As most know, mortgage interest is tax deductible. I faced a similar decision on how much to contribute to college 529 plans for my kids, how much to save for retirement, and how much to keep in savings in the event of job loss. Decided to refinance the mortgage and use the home equity to pay for kids college which reduced my taxes. One catch for using home equity/line of credit as a fallback in the event of job loss is that it is going to be difficult to get a loan if one is not employed.
    Edit: Didn't read the Dude's post closely in that he advises taking out a line of credit now rather than wait. I think that's good advice and would use those funds to pay down student debt and write it off on your taxes and keep personal savings at a 6-month supply. I think line of credits are tax deductible but am not certain since I'm using a regular mortgage/home equity to pay for college costs.
    Last edited by Paperback Writer; 03-03-2017 at 09:46 AM.
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    Quote Originally Posted by Paperback Writer View Post
    Or perhaps use the home equity/line of credit to pay down student loans. As most know, mortgage interest is tax deductible. I faced a similar decision on how much to contribute to college 529 plans for my kids, how much to save for retirement, and how much to keep in savings in the event of job loss. Decided to refinance the mortgage and use the home equity to pay for kids college which reduced my taxes. One catch for using home equity/line of credit as a fallback in the event of job loss is that it is going to be difficult to get a loan if one is not employed.
    Which is why you open the line right now, while currently employed. With my bank (credit union), I opened the line and then it just sat there ready for use whenever I needed it. Just transfer money between accounts using the web interface. Easy peasy.
    "There is no creature more arrogant than a self-righteous libertarian on the web, am I right? Those folks are just intolerable."
    "It's no secret that the great American pastime is no longer baseball. Now it's sanctimony." -- Guy Periwinkle, The Nix.
    "Juilliardk N I ibuprofen Hyu I U unhurt u" - creekster

  12. #222
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    Quote Originally Posted by Green Monstah View Post
    For a late-30s professional guy with a decent chunk of student debt (aggressively repaying), how much cash is an appropriate amount to have in savings?

    Between my employer's contributions and my 401k match, I get 22% of my annual salary and bonus deposited in retirement accounts, so I don't feel a ton of pressure there. I have about six months of salary in savings, and I keep grappling with the idea that I should use a big chunk to knock out some student loans that have 6.55 and 7.65 interest rates.

    If you are me, do you pay down the debt and keep only emergency cash (3 months), or do I stick with 6 months? (Keep in mind: I've paid down around 90k in student loans the last three years, so I am making large, chunk payments; I just work in a volatile industry where I can go from superstar to unemployed with a ten dollar decrease in the price of crude).
    Stick with the 6 months and pay off the debt in the next few years. You can always get a deferment if you lose your job, but you would have trouble making bills if you get a HELOC and lost your job.

  13. #223
    Senior Member myboynoah's Avatar
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    Quote Originally Posted by Jeff Lebowski View Post
    That stat blows me away too. Take the match and then pull your money out in a few years with a penalty. You are still money ahead! Why would you pass up free money? I don't get it.
    Quote Originally Posted by myboynoah View Post
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  14. #224
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    The market of the beast:

    https://www.bloomberg.com/news/artic...p-markets-wrap

    Today, I'm glad I sold yesterday. We'll see if I still am in the coming weeks and months.

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    The dude abides Jeff Lebowski's Avatar
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    Quote Originally Posted by beefytee View Post
    The market of the beast:

    https://www.bloomberg.com/news/artic...p-markets-wrap

    Today, I'm glad I sold yesterday. We'll see if I still am in the coming weeks and months.
    You are a market timer? Good luck with that.
    "There is no creature more arrogant than a self-righteous libertarian on the web, am I right? Those folks are just intolerable."
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  16. #226
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    Quote Originally Posted by Jeff Lebowski View Post
    You are a market timer? Good luck with that.
    Not on purpose I'm not. Just had some stock that I planned to cash out. Like I implied with my post, I have no idea if the market will go up on down.

    You think I would bump this thread of all threads if I was a market timer?

  17. #227
    One man.....one pie Moliere's Avatar
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    Just curious as to what day we agreed on to stop giving Obama credit for the economy and to start giving it to Trump?


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  18. #228
    The dude abides Jeff Lebowski's Avatar
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    Quote Originally Posted by Moliere View Post
    Just curious as to what day we agreed on to stop giving Obama credit for the economy and to start giving it to Trump?
    Better yet, why don't we agree that the POTUS has only a minor effect on short-term economic trends?
    "There is no creature more arrogant than a self-righteous libertarian on the web, am I right? Those folks are just intolerable."
    "It's no secret that the great American pastime is no longer baseball. Now it's sanctimony." -- Guy Periwinkle, The Nix.
    "Juilliardk N I ibuprofen Hyu I U unhurt u" - creekster

  19. #229
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    Quote Originally Posted by Moliere View Post
    Just curious as to what day we agreed on to stop giving Obama credit for the economy and to start giving it to Trump?
    You picked a funny day to make this point. Then again, maybe that was your intent.

    DJI with the largest single-day point decline in history. Damn you, Trump!
    "There is no creature more arrogant than a self-righteous libertarian on the web, am I right? Those folks are just intolerable."
    "It's no secret that the great American pastime is no longer baseball. Now it's sanctimony." -- Guy Periwinkle, The Nix.
    "Juilliardk N I ibuprofen Hyu I U unhurt u" - creekster

  20. #230
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    I lost about 2% of my portfolio's value today, but I made that in January, so.....I'm not terribly upset. I'm about where I was when the market closed for Christmas. Now, if it keeps going down like this the rest of the week, by Friday, all of last year will be gone.
    "Yeah, but never trust a Ph.D who has an MBA as well. The PhD symbolizes intelligence and discipline. The MBA symbolizes lust for power." -- Katy Lied

  21. #231
    One man.....one pie Moliere's Avatar
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    Quote Originally Posted by Jeff Lebowski View Post
    You picked a funny day to make this point. Then again, maybe that was your intent.

    DJI with the largest single-day point decline in history. Damn you, Trump!
    Yeah, it was a satirical post that mocked those that claim the president had a lot of influence on the economy and those that want to keep giving Obama and/or Trump credit for the ups and downs.

    The Dow was down 1,175 but the S&P was only down 113. Good thing my money is in SPDRs.


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  22. #232
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    Quote Originally Posted by Moliere View Post
    Yeah, it was a satirical post that mocked those that claim the president had a lot of influence on the economy and those that want to keep giving Obama and/or Trump credit for the ups and downs.
    Nicely done. I hadn't seen the market news when I first responded.

    Quote Originally Posted by Moliere View Post
    The Dow was down 1,175 but the S&P was only down 113. Good thing my money is in SPDRs.
    Ha! More sarcastic wit.

    DJI down 4.6%. S&P down 4.1%.
    "There is no creature more arrogant than a self-righteous libertarian on the web, am I right? Those folks are just intolerable."
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  23. #233
    Board Bookworm happyone's Avatar
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    Well, I'm no longer worth a million dollars

    I suppose what goes up must come down

    I may be small, but I'm slow.

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  24. #234

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    Quote Originally Posted by Moliere View Post
    Just curious as to what day we agreed on to stop giving Obama credit for the economy and to start giving it to Trump?


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    I like how unemployment dropped massively from 40% to almost nothing on the very day Trump took over!

  25. #235
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    Quote Originally Posted by Jeff Lebowski View Post
    Better yet, why don't we agree that the POTUS has only a minor effect on short-term economic trends?
    Yeah, the stock market is influenced more by these robots than the POTUS...




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