The Sisko Posted March 18, 2020 Share Posted March 18, 2020 I sold out in 2008, but did it too late. This time around, I didn't fall for the old banana in the tailpipe trick. We sold out last Tuesday and I'm not regretting it one bit. Mrs. Sisko and I are getting to a point age-wise where we'd be paring back on stocks anyway. I'll get back in but I'll wait a bit for things to calm down a bit and the overall percentage of stocks in my portfolio will be lowered. If we were younger, it might be different, but for now, I'll sit on the cash. Speaking of which, I'm pretty sure that when I do decide to get back in, Berkshire Hathaway will probably make up half of my stock portfolio with the other half going back into an index fund. They're sitting on a mountain of cash and I trust their judgement on when/what to buy more than I do my own. I understand the problem with trying to time the market, but in the face of something like this, staying in is just self-punishment iMO. If I have to forgo some upside to preserve capital, so be it. 2 Link to comment Share on other sites More sharing options...
FanboyOf91 Posted March 18, 2020 Share Posted March 18, 2020 Link to comment Share on other sites More sharing options...
FanboyOf91 Posted March 18, 2020 Share Posted March 18, 2020 Ouch. Link to comment Share on other sites More sharing options...
techboy Posted March 18, 2020 Share Posted March 18, 2020 32 minutes ago, The Sisko said: Speaking of which, I'm pretty sure that when I do decide to get back in, Berkshire Hathaway will probably make up half of my stock portfolio with the other half going back into an index fund. They're sitting on a mountain of cash and I trust their judgement on when/what to buy more than I do my own. At this point Berkshire is basically a low cost, well diversified fund. I wonder, though, what's going to happen when Buffett and Munger decline or die, and they're not exactly spring chickens. That's a lot of manager risk. 2 Link to comment Share on other sites More sharing options...
The Sisko Posted March 18, 2020 Share Posted March 18, 2020 9 minutes ago, techboy said: At this point Berkshire is basically a low cost, well diversified fund. I wonder, though, what's going to happen when Buffett and Munger decline or die, and they're not exactly spring chickens. That's a lot of manager risk. Agreed. I suspect that their successors will probably decide to pursue a similar model of keeping the cash cows and periodically buying when they see value. If they don't do quite as well as Buffett/Munger with new purchases, they should still have a decent floor under them due to the existing holdings. Who knows though. Nothing's ever guaranteed. Link to comment Share on other sites More sharing options...
PleaseBlitz Posted March 18, 2020 Author Share Posted March 18, 2020 Lessons learned from last time. https://www.fhfa.gov/Media/PublicAffairs/Pages/FHFA-Suspends-Foreclosures-and-Evictions-for-Enterprise-Backed-Mortgages.aspx Quote News Release FHFA Suspends Foreclosures and Evictions for Enterprise-Backed Mortgages FOR IMMEDIATE RELEASE 3/18/2020 Washington, D.C. – Today, to help borrowers who are at risk of losing their home, the Federal Housing Finance Agency (FHFA) has directed Fannie Mae and Freddie Mac (the Enterprises) to suspend foreclosures and evictions for at least 60 days due to the coronavirus national emergency. The foreclosure and eviction suspension applies to homeowners with an Enterprise-backed single-family mortgage. Earlier this month, FHFA announced that the Enterprises would provide payment forbearance to borrowers impacted by the coronavirus. Forbearance allows for a mortgage payment to be suspended for up to 12 months due to hardship caused by the coronavirus. “This foreclosure and eviction suspension allows homeowners with an Enterprise-backed mortgage to stay in their homes during this national emergency," said Director Mark Calabria. “As a reminder, borrowers affected by the coronavirus who are having difficulty paying their mortgage should reach out to their mortgage servicers as soon as possible. The Enterprises are working with mortgage servicers to ensure that borrowers facing hardship because of the coronavirus can get assistance." FHFA will continue to monitor the coronavirus situation and update policies as needed. 1 1 Link to comment Share on other sites More sharing options...
FanboyOf91 Posted March 18, 2020 Share Posted March 18, 2020 We're in a recession. Link to comment Share on other sites More sharing options...
PleaseBlitz Posted March 18, 2020 Author Share Posted March 18, 2020 At least they expect it to be over by July. Link to comment Share on other sites More sharing options...
TradeTheBeal! Posted March 18, 2020 Share Posted March 18, 2020 (edited) On 3/16/2020 at 10:07 PM, hail2skins said: Market crash??!! Futures hit their limit up tonight at +800, which implies an opening +1000. 😀 I'm not sure if the same circuit breakers apply to the market upside as they do for market crashes. For example, can the S&P rise by over 7 percent during the trading day without causing a 15-minute halt. Put down the crack pipe. Edited March 18, 2020 by TryTheBeal! 1 Link to comment Share on other sites More sharing options...
Elessar78 Posted March 18, 2020 Share Posted March 18, 2020 41 minutes ago, The Sisko said: Agreed. I suspect that their successors will probably decide to pursue a similar model of keeping the cash cows and periodically buying when they see value. If they don't do quite as well as Buffett/Munger with new purchases, they should still have a decent floor under them due to the existing holdings. Who knows though. Nothing's ever guaranteed. Look at what happened to Vanguard after Bogle passed—I think it wasn't a day after he passed that they released some crazy-ass funds that went totally against his beliefs. Link to comment Share on other sites More sharing options...
Cooked Crack Posted March 18, 2020 Share Posted March 18, 2020 Link to comment Share on other sites More sharing options...
The Sisko Posted March 18, 2020 Share Posted March 18, 2020 1 hour ago, Elessar78 said: Look at what happened to Vanguard after Bogle passed—I think it wasn't a day after he passed that they released some crazy-ass funds that went totally against his beliefs. As I said, there aren’t any guarantees. However, I think the successors would have to be aware that investors are watching for this, and any indication of it would cause a rush to the exits. It’s a little easier to sell out of a single stock than it is to get out of a family of funds, especially if it makes up a large part of the offerings in your company’s retirement plan and you’re all but trapped like a rat. Link to comment Share on other sites More sharing options...
Nerm Posted March 18, 2020 Share Posted March 18, 2020 Regarding Boeing /SpaceX, I follow a lot of discussions regarding the aerospace/rocket industry. There seems to be such frustration about Boeings NASA contracts, and more specifically the Space Launch System (SLS). It seems that once or twice per year there are announcements that the SLS deadlines are pushed back further, and the $ that Boeing is receiving will be increased. This leads to a lot of space enthusiasts being enraged about wasteful NASA spending that could be directed to hiring SpaceX to do the job faster and for much less money, because Boeing never gets any closer to completing the SLS. What I hear a lot of people inside the industry writing is that Boeing is meeting the actual goal of the program, just not the publically stated goal. They insist that the SLS is never supposed to actually fly. The goal of the SLS is to keep engineers in the rocket industry employed, primarily in Alabama. They claim the unstated goal of the program is to make sure that people stay in the industry, not to create something that would ever be used. Sounds like noble use of time for our nation's best and brightest. Link to comment Share on other sites More sharing options...
The Sisko Posted March 18, 2020 Share Posted March 18, 2020 Good thing we’ve got Tя☭mp and the Grand Oligarch’s Party to drain the swamp!🙄🙄 1 Link to comment Share on other sites More sharing options...
Corcaigh Posted March 18, 2020 Share Posted March 18, 2020 (edited) It’s been a bloody few weeks for sure, but I do not expect it will last forever and I am not planning to sell any of my stock holdings for a decade or so. Toward the end of 2019 I had shifted my allocation to a more ‘conservative’ 60/40 stock/bond ratio. I will continue my current course, maxing out my 401k in total market bond funds, and weekly purchases of domestic and international total market stock funds in my after tax investment accounts. Edited March 18, 2020 by Corcaigh Link to comment Share on other sites More sharing options...
c slag Posted March 19, 2020 Share Posted March 19, 2020 1 2 Link to comment Share on other sites More sharing options...
BatteredFanSyndrome Posted March 19, 2020 Share Posted March 19, 2020 1 8 1 Link to comment Share on other sites More sharing options...
First Colony Posted March 19, 2020 Share Posted March 19, 2020 17 hours ago, Cooked Crack said: Ford and GM may start to use their plants to manufacture ventilators: https://www.axios.com/coronavirus-gm-ford-ventilator-manufacturing-0af6de9e-42ff-4b5f-aa95-f53ed638b161.html Link to comment Share on other sites More sharing options...
88Comrade2000 Posted March 19, 2020 Share Posted March 19, 2020 Walmart is reducing their hours even more. It's now 7am to 8:30pm starting today. Also, on Tuesdays; one hour before opening will be for Seniors only. Link to comment Share on other sites More sharing options...
sportjunkie07 Posted March 19, 2020 Share Posted March 19, 2020 13 hours ago, c slag said: Trump bernie pic They aren't wrong. there is some hypocrisy from the trump side. For the record I disagree with both of them. No bailouts ever. For citizens and especially for companies. All it does is kick the can down the road, devalue our currency, and make it harder for the less financially fortunate in the long wrong. We have a broken monetary policy and no one is man enough to tackle it because it will hurt the world economy and no leader wants to be seen as responsible for it. This is a cycle that will continue until it's gets so bad that we have to go to a different system. 1 Link to comment Share on other sites More sharing options...
Corcaigh Posted March 19, 2020 Share Posted March 19, 2020 2 hours ago, Rdskns2000 said: Walmart is reducing their hours even more. It's now 7am to 8:30pm starting today. Also, on Tuesdays; one hour before opening will be for Seniors only. I wonder what hours 7-11 will operate. 1 1 Link to comment Share on other sites More sharing options...
visionary Posted March 19, 2020 Share Posted March 19, 2020 Link to comment Share on other sites More sharing options...
Riggo-toni Posted March 19, 2020 Share Posted March 19, 2020 3 Link to comment Share on other sites More sharing options...
visionary Posted March 19, 2020 Share Posted March 19, 2020 (edited) Edited March 19, 2020 by visionary Link to comment Share on other sites More sharing options...
skinsfan999 Posted March 19, 2020 Share Posted March 19, 2020 Assuming these stimulus checks go through, has anyone heard "who" the checks would apply to? I've heard the term "Americans" thrown around, so I wasn't sure if that meant checks would only go out to citizens, or if that would include other tax payers like permanent residents. Link to comment Share on other sites More sharing options...
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