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The Business Of Upholstery => The Business Of Upholstery => Topic started by: kodydog on February 06, 2018, 09:19:51 AM

Title: Stocks dive, CNN is bullish on the economy.
Post by: kodydog on February 06, 2018, 09:19:51 AM
https://www.msn.com/en-us/money/markets/market-meltdown-heres-why-you-shouldnt-panic-just-yet/ar-BBILcw0?li=BBmkt5R&ocid=spartandhp
Title: Re: Stocks dive, CNN is bullish on the economy.
Post by: gene on February 06, 2018, 11:11:51 PM
I emailed this video to folks I talk to about stocks.

It's a joke in that being in ETFs I rarely look at the stock market.

https://www.youtube.com/watch?v=zDAmPIq29ro

gene
Title: Re: Stocks dive, CNN is bullish on the economy.
Post by: Mojo on February 07, 2018, 07:32:55 AM
Personally, I think the economy is in great shape. I learned a long time ago the best way to loose money in the market is to listen to experts.

My best friend is a heavy investor. I have never seen someone who has the midas touch with stocks. He is so heavily invested that on a down day on the market he will lose $ 75 - 100 K. He rarely gets rattled and holds during down times. He is pretty diversified and over the last two years has been buying select commercial properties. He told me yesterday he has a boat load of money parked in cash and bonds. He is a retired Delta Captain and has been a heavy investor for decades. He has done real well.

I used to day trade years ago but it was a ton of work and time consuming. I gave it up when I ran up against SEC rules for trading too much. When this business took off I found I no longer had the time to devote to trading. I admit though I do miss it. I had some loses over the years and had some big wins. I just found day trading to be a blast.

Mojo
Title: Re: Stocks dive, CNN is bullish on the economy.
Post by: 65Buick on February 07, 2018, 07:08:34 PM
I think the economy is in good shape too. We were overdue for a correction. It shouldn't be ignored, but people certainly shouldn't panic and start selling everything they have. Go long. It always comes back to where it was. Even if you sell and buy, you create a whole bunch of anxiety and probably won't really gain anything.
Title: Re: Stocks dive, CNN is bullish on the economy.
Post by: Mojo on February 08, 2018, 09:33:43 PM
I think the economy is in good shape too. We were overdue for a correction. It shouldn't be ignored, but people certainly shouldn't panic and start selling everything they have. Go long. It always comes back to where it was. Even if you sell and buy, you create a whole bunch of anxiety and probably won't really gain anything.

I agree. I used to find opportunity in down cycles. The trick was to sell out early, wait for the bottom and then reinvest again in the same stocks. I used to find solid performers like UPS, CSX and when overall stocks dropped I would sell quick and wait for the bottom. Then buy again and ride it em up again. I got caught a few times on the back side but for the most part caught the downturns quick enough to make money coming back.

This is why I say day trading was so time consuming. Some days it took watching stocks all day and doing research during the night. I miss the adrenaline rush on market moves but sure as hell do not miss the work involved.

Mojo
Title: Re: Stocks dive, CNN is bullish on the economy.
Post by: kodydog on February 09, 2018, 09:16:46 AM
Personally, I think the economy is in great shape. I learned a long time ago the best way to loose money in the market is to listen to experts.
Mojo

I agree. At this point in our lives Rose and I are ultra conservative with our investments. We held tight when the stock market crashed in 2008. I remember news casters telling us the housing market would never recover. I had friends who were convinced their property would never be worth what they paid.

Do you think the media can make the markets worse by the way they report it?
Title: Re: Stocks dive, CNN is bullish on the economy.
Post by: sofadoc on February 09, 2018, 11:54:07 AM
Do you think the media can make the markets worse by the way they report it?
There are way too many media outlets now, and not nearly enough news to go around. So reporters have to create news. And even if a news item is totally unsubstantiated, if you tell it long enough, it becomes real news.
Title: Re: Stocks dive, CNN is bullish on the economy.
Post by: baileyuph on February 18, 2018, 10:59:35 AM
The stock market has always been not easy to predict all the time.  Just try to make good investments
and don't do a panic sell.

My business has more work than I can do, I invest in it as well as the big business.

Often, I get the question "how long did it take to learn your business", my response:  "I will let you
know".  You don't if your keeping up with the new technology going on.  I can remember when we
reupholstered a layer at a time - this new furniture isn't usually built like that.  Integrated systems often
come off the machine and are installed.  This changes repairing and the processes of reupholstering.

Plus, I can remember when there were no air bags in cars, now they are every where (I do all uph btw).  Imagine doing this type of work if your life time has been spent working on 1955 cars!

So the learning process continues and so it is applied to investing also.

Doyle