The 2015 Market Crash

[Uncle Ted]

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[TripletDaddy]

lol CMBF thinks like Donald Trump

[Bo Diddley]

Yeah! Obama's economy is awesome!

[Donuthole]

A work associate of mine who "majored in finance" and "worked for UBS for a couple years" poked his head in my office and told me he was going to offer me some unsolicited advice: "never put any money in the stock market." I figured he was just overreacting to the morning's events, so I prodded him a bit. Apparently, he doesn't have any money in the stock market and he is genuinely offering me financial advice. I "might as well be gambling on the Strip" he says.

This is the same guy who has made it abundantly clear that he has no idea how to manage his finances. For example, through an accounting glitch, he was not paid for the 3 days of vacation he took (he didn't have any vacation saved up as a new hire, but was promised upon hiring that he could take those 3 days off, with pay). When his check was 3 days short, he freaked out, wondering how his family of 4 would get by until the next pay period. He and his wife both make 6-figure salaries, but this 3-day hiccup was going to doom them.

In other words, just the type of guy you want giving you financial advice. Which is why I wanted to make sure the board is in the know.

[Commando]

A work associate of mine who "majored in finance" and "worked for UBS for a couple years" poked his head in my office and told me he was going to offer me some unsolicited advice: "never put any money in the stock market." I figured he was just overreacting to the morning's events, so I prodded him a bit. Apparently, he doesn't have any money in the stock market and he is genuinely offering me financial advice. I "might as well be gambling on the Strip" he says.

This is the same guy who has made it abundantly clear that he has no idea how to manage his finances. For example, through an accounting glitch, he was not paid for the 3 days of vacation he took (he didn't have any vacation saved up as a new hire, but was promised upon hiring that he could take those 3 days off, with pay). When his check was 3 days short, he freaked out, wondering how his family of 4 would get by until the next pay period. He and his wife both make 6-figure salaries, but this 3-day hiccup was going to doom them.

In other words, just the type of guy you want giving you financial advice. Which is why I wanted to make sure the board is in the know.

Any other kernels?

[Bo Diddley]

A work associate of mine who "majored in finance" and "worked for UBS for a couple years" poked his head in my office and told me he was going to offer me some unsolicited advice: "never put any money in the stock market." I figured he was just overreacting to the morning's events, so I prodded him a bit. Apparently, he doesn't have any money in the stock market and he is genuinely offering me financial advice. I "might as well be gambling on the Strip" he says.

This is the same guy who has made it abundantly clear that he has no idea how to manage his finances. For example, through an accounting glitch, he was not paid for the 3 days of vacation he took (he didn't have any vacation saved up as a new hire, but was promised upon hiring that he could take those 3 days off, with pay). When his check was 3 days short, he freaked out, wondering how his family of 4 would get by until the next pay period. He and his wife both make 6-figure salaries, but this 3-day hiccup was going to doom them.

In other words, just the type of guy you want giving you financial advice. Which is why I wanted to make sure the board is in the know.

My major concern is that the children are ok. Please let me know if I can help in any way.

[old_gregg]

A work associate of mine who "majored in finance" and "worked for UBS for a couple years" poked his head in my office and told me he was going to offer me some unsolicited advice: "never put any money in the stock market." I figured he was just overreacting to the morning's events, so I prodded him a bit. Apparently, he doesn't have any money in the stock market and he is genuinely offering me financial advice. I "might as well be gambling on the Strip" he says.

This is the same guy who has made it abundantly clear that he has no idea how to manage his finances. For example, through an accounting glitch, he was not paid for the 3 days of vacation he took (he didn't have any vacation saved up as a new hire, but was promised upon hiring that he could take those 3 days off, with pay). When his check was 3 days short, he freaked out, wondering how his family of 4 would get by until the next pay period. He and his wife both make 6-figure salaries, but this 3-day hiccup was going to doom them.

In other words, just the type of guy you want giving you financial advice. Which is why I wanted to make sure the board is in the know.

i mean, he's right

[byu71]

It won't be 2008, but something more like late 2000 to 2003. This slide already started awhile ago, but the market will lose some not insignificant part of its value, say 33% or so, and will languish there for a couple years.

So, by your subsequent posts you were just kidding here?

We have a big screen TV in the reception area. An advisor was just sitting there in front of it with a glazed stare. He said, we are down 900, we have never seen a down 900. I said I have and he said no I hadn't. Well in '87 the market dropped 23% in one day. That is equivalent to about 3,800 points. Advisors with only 20 years experience are wet behind the ears.

[Moliere]

I sold all my stocks at 9:30 this morning and bought a ton of food storage :beprepared:

[cougjunkie]

Bright side, interest rates are dropping! Go refinance your home!

[TripletDaddy]

I sold all my stocks at 9:30 this morning and bought a ton of food storage :beprepared:

I sold everything at 830am. I should have waited another hour.

[thesaint258]

A work associate of mine who "majored in finance" and "worked for UBS for a couple years" poked his head in my office and told me he was going to offer me some unsolicited advice: "never put any money in the stock market." I figured he was just overreacting to the morning's events, so I prodded him a bit. Apparently, he doesn't have any money in the stock market and he is genuinely offering me financial advice. I "might as well be gambling on the Strip" he says.

This is the same guy who has made it abundantly clear that he has no idea how to manage his finances. For example, through an accounting glitch, he was not paid for the 3 days of vacation he took (he didn't have any vacation saved up as a new hire, but was promised upon hiring that he could take those 3 days off, with pay). When his check was 3 days short, he freaked out, wondering how his family of 4 would get by until the next pay period. He and his wife both make 6-figure salaries, but this 3-day hiccup was going to doom them.

In other words, just the type of guy you want giving you financial advice. Which is why I wanted to make sure the board is in the know.

This reminds me of a substitute teacher in our jr. high careers class who told us we had a better chance going to Vegas and making it shooting craps than we did being successful in life. He clearly wasn't happy with his life choices.

[byu71]

This reminds me of a substitute teacher in our jr. high careers class who told us we had a better chance going to Vegas and making it shooting craps than we did being successful in life. He clearly wasn't happy with his life choices.

I would agree the market and life are gambles. However, if you play it right you can be the house. You will lose sometimes, but overall come out ahead.

[Color Me Badd Fan]

So, by your subsequent posts you were just kidding here?

We have a big screen TV in the reception area. An advisor was just sitting there in front of it with a glazed stare. He said, we are down 900, we have never seen a down 900. I said I have and he said no I hadn't. Well in '87 the market dropped 23% in one day. That is equivalent to about 3,800 points. Advisors with only 20 years experience are wet behind the ears.

I was trying to parrot DDD's good advice which is that you should bet against a 1,500 point drop in the past week and go all in on the top of a dead cat bounce. The market has already lost about 12-13% of its value this year and it will eventually go to at least a 20% dip -- but that would mean the Dow would only have to go down to around 14,700. It was at 15,400 this morning. If I had to bet, I'd say the Dow eventually goes down into the 13k range at some point in time this year or next. That's not much of a bet when you consider what's happened to foreign markets and the US markets aren't going to completely buck the trend.

When I wrote the post, the market had already gained back around 50% of the morning's loss, in fact the drop was essentially where it's at right now at the time of this post. I was commenting on the overall terrible week that culminated in the rather shocking initial loss this morning.

[byu71]

I was trying to parrot DDD's good advice which is that you should bet against a 1,500 point drop in the past week and go all in on the top of a dead cat bounce. The market has already lost about 12-13% of its value this year and it will eventually go to at least a 20% dip -- but that would mean the Dow would only have to go down to around 14,700. It was at 15,400 this morning. If I had to bet, I'd say the Dow eventually goes down into the 13k range at some point in time this year or next. That's not much of a bet when you consider what's happened to foreign markets and the US markets aren't going to completely buck the trend.

When I wrote the post, the market had already gained back around 50% of the morning's loss, in fact the drop was essentially where it's at right now at the time of this post. I was commenting on the overall terrible week that culminated in the rather shocking initial loss this morning.

Thanks. Just like to be clear on what someone predicts so I can judge them later.