quote:

Originally posted by ulsterman:
Our accounts are down about 2% and it's still early.

Talked to our money manager. "Open a bottle of bourbon and hang on. It will hurt but you'll be OK."

You do realize that your money manager gets paid based on what you have invested right? Go watch the scene in the wolf of wall street with Matthew McConaughey. Your money manager doesn't know what is going to happen next. What he does know if you get out he doesn't get to make his fees.

quote:

Originally posted by Hildur:

quote:

Originally posted by ulsterman:
Our accounts are down about 2% and it's still early.

Talked to our money manager. "Open a bottle of bourbon and hang on. It will hurt but you'll be OK."

You do realize that your money manager gets paid based on what you have invested right? Go watch the scene in the wolf of wall street with Matthew McConaughey. Your money manager doesn't know what is going to happen next. What he does know if you get out he doesn't get to make his fees.

Let me guess... Edward Jones??

About a year ago, mid-October 2020, I was buying VGT for about $325/share. During this last little dip (Sept. 22nd) I was bought some for $410/share. Today it closed at $422/share.

It's not for everyone, it's expensive to buy and you have to believe 'Technology' is going to be with us whether we like it or not. VGT is a Technology theme based ETF. This isn't advice and I'm not a Financial advisor. I'm frequently wrong about stock and women.

quote:

I'm frequently wrong about stock and women.

I'm always wrong about women!

And I'm frequently wronged by stocky women.

Maybe you should ask this guy.

A Crypto-Trading Hamster Performs Better Than Warren Buffett And The S&P 500

What if we told you there was a hamster who has been trading cryptocurrencies since June — and recently was doing better than Warren Buffett and the S&P 500?

Meet Mr. Goxx, a hamster who works out of what is possibly the most high-tech hamster cage in existence.
It's designed so that when Mr. Goxx runs on the hamster wheel, he can select among dozens of cryptocurrencies. Then, deciding between two tunnels, he chooses whether to buy or sell. According to the Twitch account for the hamster, his decision is sent over to a real trading platform — and yes, real money is involved.

Look, we're not telling you to follow in this hamster's financial decisions or that this process is scientific in any way. The human behind this hamster's account and money has not been made public.

But what we can tell you is his portfolio is up nearly 20% since he started trading in June, according to his Twitter account. And as of Sept. 12, Mr. Goxx was performing better than Bitcoin, the Nasdaq 100, Warren Buffett's Berkshire Hathaway and the S&P 500.
While Mr. Goxx's methodology is random at best, it does remind us that where people get their financial advice from is certainly changing.

We've seen people getting tips from TikTok and from two kids in Baltimore.

And in recent years, there's been more stock-picking on Wall Street from bots. NPR's Planet Money even built its own in 2017 that invested money based off President Donald Trump's tweets.

link: https://www.npr.org/2021/09/25...arren-buffet-s-p-500

I'm not so big on crypto right now. China is slamming the door on it (and a lot of crypto is mined in China.) I remember hearing a while back that India is doing similar. I figured at some point the governments would feel threatened by crypto, and drop the hammer.

https://www.reuters.com/world/...-trading-2021-09-24/

quote:

Originally posted by BBMW:
China's going to do what the US has been doing in these situations, come up with money to spackle over the financial hole, and everyone goes happily on their way.

quote:

Originally posted by Leemur:
Hard to say if the Evergrande thing is contained or just smoldering for a big blow up.

China has already put 120 billion yuan into Evergreen, while claiming publicly that it wouldn't bail them out.

quote:

Originally posted by Hildur:

quote:

Originally posted by ulsterman:
Our accounts are down about 2% and it's still early.

Talked to our money manager. "Open a bottle of bourbon and hang on. It will hurt but you'll be OK."

You do realize that your money manager gets paid based on what you have invested right? Go watch the scene in the wolf of wall street with Matthew McConaughey. Your money manager doesn't know what is going to happen next. What he does know if you get out he doesn't get to make his fees.

I'm not an idiot. We don't base our investments on scenes from movies.

quote:

Originally posted by Hildur:
You do realize that your money manager gets paid based on what you have invested right? Go watch the scene in the wolf of wall street with Matthew McConaughey. Your money manager doesn't know what is going to happen next. What he does know if you get out he doesn't get to make his fees.

A money manager working for a bank doesn't know, but a good Financial Advisor does know what will happen long run.

Many sources said a good Financial Advisor would charge a flat fee and wouldn't receive commissions based on your investments. Most of those types seemed to recommend Boglehead type recommendations for investing: 70/30 index funds and bonds or target funds.

Next I heard the really good Financial Advisors only accept clients with more at least one to ten million to invest. There do seem to be some advisors that do lots of financial and retirement management well.

quote:

Originally posted by bryan11:
Next I heard the really good Financial Advisors only accept clients with more at least one to ten million to invest. There do seem to be some advisors that do lots of financial and retirement management well.

My financial advisor went for quite a while only accepting a $1 Million dollar minimum investment but when his son decided he wanted to come in and learn the business, the minimum was lowered, then dropped as he wanted the kid to learn about smaller investors as well.

He's very good at financial and retirement management.

And even the worst financial advisors have had better than decent rUN for the last twelve or thirteen years.
That is why anyone managing their own portfolio has been able to do as good without paying their advisors a healthy fee for doing the same thing.
Ymmv.

This message has been edited. Last edited by: old rugged cross,

The market always has a sell off pending.

You cannot time the market so get in, hang on and enjoy the ride.

Say what you will, my advisor has gotten me 9.52 percent net over the last 10 years. Yes, I pay her. Yes, she is worth every penny.

quote:

Originally posted by ulsterman:

quote:

Originally posted by nhracecraft:
This market is due for a solid 10% (maybe even 15%) correction! Just Sayin'...

It is well on its way.

I disagree. Typical September for the market. Day traders beware. Hold tight and look for bargains.

quote:

Originally posted by Flash-LB:

quote:

Originally posted by Hildur:
You do realize that your money manager gets paid based on what you have invested right? Go watch the scene in the wolf of wall street with Matthew McConaughey. Your money manager doesn't know what is going to happen next. What he does know if you get out he doesn't get to make his fees.

A money manager working for a bank doesn't know, but a good Financial Advisor does know what will happen long run.

Its still a guess, if they all really knew why would they need customers? They'd just invest their own money. There's always a few that guess correctly but there's many more that don't. Some things can be predicted but many can't (who saw covid coming?).

Vanguard Index Funds 10 year avg annual return:

SP500: 14.8%
Total Mkt: 14.7%
Extended Mkt: 14%

expense ratios around .05%

load up on these long-term with adequate cash and maybe a total bond fund.

don't need to pay an advisor. they don't know anything you can't read in the WSJ.

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quote:

Originally posted by Sig209:
Vanguard Index Funds 10 year avg annual return:

SP500: 14.8%
Total Mkt: 14.7%
Extended Mkt: 14%

expense ratios around .05%

load up on these long-term with adequate cash and maybe a total bond fund.

don't need to pay an advisor. they don't know anything you can't read in the WSJ.

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I agree with this post, but...
Leaves 2 unanswered questions...
1] How do you decide what % of your retirement to put in stocks and what % in bonds?
2] Which "total bond fund" ?? There are many and some are better than others.

The equity (stock) vs Bond percentage is solely based on your investing window and risk aversion. The closer to retirement the more bond percentage you should have. If retirement is imminent you should be at 50-50 or 40-60. Ymmv