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- Thread starter SoapyCy
- Start date
Well the first page of this thread and predections held up really well. But Cyched really outdid himself.
Looking back a couple months ago:
At my age, my stock allocation was probably a little high for my comfort. At one point I was down 20%, but never did anything. Yesterday, I was down 7% YTD so I finally made a little shift of my allocation to be more conservative. I've had a reminder set every quarter to look at my allocation but many years of gains made me lazy/greedy. I'm just happy it fought back because there was no way I was making changes when the market was down 20+%. This was for my 401k. For my Roth IRA the only thing I did was sell all my O. This was probably a dumb move as well.
Also, the few stocks that I held that I thought would do good in this market haven't done anything or negative. 3M, JNJ, and Roche. My one weed stock PLNHF, has also tanked.
At my age, my stock allocation was probably a little high for my comfort. At one point I was down 20%, but never did anything. Yesterday, I was down 7% YTD so I finally made a little shift of my allocation to be more conservative. I've had a reminder set every quarter to look at my allocation but many years of gains made me lazy/greedy. I'm just happy it fought back because there was no way I was making changes when the market was down 20+%. This was for my 401k. For my Roth IRA the only thing I did was sell all my O. This was probably a dumb move as well.
Also, the few stocks that I held that I thought would do good in this market haven't done anything or negative. 3M, JNJ, and Roche. My one weed stock PLNHF, has also tanked.
Did you change your investment allocation, or contribution allocation?
If you're young (30s,40s), you really shouldn't change your investment allocation. Just let it ride. Are you going to try to time every downturn over the next 30 years?
About a month ago I changed my contribution allocation to put more in US stock market rather than my normal allocations across funds.
JP Morgan, Wells Fargo and Delta report Q1 results today. Will be interesting if they give any forward guidance for the rest of 2020. CEO/CFOs will have to choose their words wisely during the conference calls.
Buying Levi Strauss assuming no ones jeans will fit when this is back to normal. Those sweats lie to you
Depends how they have to classify the credits. There is a chance that they may look ok for the first quarter and then be a complete disaster.
If the economy holds together at all, the banking industry should be showing some huge profits in the next year. Saw WFC put 3 billion in loan loss reserves, that is considered a loss when they do it. If the loans don't flop and you get back to normal with only a third in that area, you can pull 2 billion out and that then shows as profit.
I still don't understand this, but so far for 2020, I am up 2%, basically gained enough to offset the entire plunge already. This makes no sense. 401k balance is the highest ever. I guess thanks to the fed.
If you want to understand it better, go to your kids and tell them to give you a third of their savings account. Tell them at least they are doing it up front and seeing it leave now.