Could You Stay in Business or No?

Market went down 390 points on Friday . Trump announced the Reality that there is going to be a Lot of Unavoidable death the next couple weeks on Saturday .

2.5trillion in wealth has already evaporated. This week will be Epic im bettin.

This no normal turndown in the market. My dad has been wiped out a million in the market before costing many more millions in personal economic repercussion following.

When I asked my dad who has played And invested for 70 years and knew and constantly studied the Market "What happened"?

He got out his nice pen and wrote down on a piece of paper and pushed it over to me.

On that piece of paper one word.















GREED

Live to Fight another day.

 

Depends on the tax consequences.

I hope she listened. Keep your money and buy back in at bargain prices.

 

Is this the Bottom? The market has been driven hard on cheap money and false earnings.

The last 3 years earnings are gone, as they should be because that was fluff.

So at 20 it has returned to its real value baseline, if you can even call it that.

The economic repercussions have not even begun to happen yet.

Travel and tourism will be nothing as most people won't have a dime left on their credit cards and most retirees saw their savings melt. So knock out airlines,hotels, car rentals, cruise lines.

Speaking of criuise lines how easy you think it will be to get people back on those things after all they have seen of them on tv endlessly wandering the seas looking for a port .

And once again housing has done nothing but go up and up as have property values.They will take a hit.

My dad almost got wiped out back in the early 80s by the credit crunch of 18 % interest rates.

He owned outright millions of dollars of luxury homes he had built and millions of dollars of land to develop.
Dad despised banks.

There is a lot of bills to pay with taxes and insurance when you own all that and when your cash poor it can get bad. My dad slowly auctioned off houses for 50cents on the dollar of what he had into them just to keep up on taxes and insurance.

It took years for the economy to start to turn around and my dad slowly get rid of the houses. Than in 87 we had another recession but he was not as heavily leveraged so not so much of an impact.

The economy can come to a halt, and it did back in the early eighties but nothing like this.

Just gun shy. I have 2 brothers that are multi millionaires one of them probably around 20 million. He has been out of the market for a year and slowly selling off some of his commercial real estate.

I get a lot of wisdom thrown my way.

 

Wait, are you the guy who bought an old pre emission truck last year in IN and took it to MI?
Why your dad and brothers are millionaires and you are a wannabe o/o?

 

Cash out BEFORE the slide.

And with nobody issuing revenue guidance. And manufacturing at a standstill. The market has nowhere to go but down.

 

Classic!

 

Well... This is America and everybody can choose their path. It is a good ambition to build something from scratch, and even better to have a rich family to give a hand in case it goes awry. I would not mind....LOL

Anyway, Naples, FL, rich and beautiful town. I went there last year. You can feel the luxury is in the air.

 

I cashed out most of my portfolio in January (saved me a fortune) and reinvested in TeleDoc and some other teleconferencing companies that have been doing great. Been buying back some of what I sold in January, and so far, so good. My dad is my stock guru and he's tuned online in every second the markets are open. I wish I had his drive, and free time to play the markets.