What stocks are you buying now? Part 32

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BreadManPanarin

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Mar 15, 2017
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It astonishes me at how all the people who go marching in the street over social issues that are largely irrelevant to their daily lives sit around idly while the government kneecaps their retirement funds.

That is because most people have little to nothing saved for retirement. Most of the people on this board probably are in the to 10% of stock holders and I know for a fact Im not rich by any means.

Who Owns US Stock? Foreigners and Rich Americans.

Social issues effect their lives, most people in the country have no stake in the stock game. The separation of wealth, even in the USA is getting worse every year.

Interestingly this is completely expected to happen at this point and not even a bit surprising based on the Strauss Howe Generational Theory.

Strauss–Howe generational theory - Wikipedia

According to this theory history is cyclical, repeating after four 'turns,' each lasting 20-25 years. The first turn is the high, a period of relief after the previous period's crisis has ended (the last one was WW2, approx 80 years ago). The second turning is an awakening, when people start to get back to reality after the high. The third turning is an unraveling, in which people are unhappy with the way things were in the previous two turnings and are now becoming pessimistic about the future. Finally, the fourth turning is a crisis; some unexpected major event that will involve everyone and completely change the way people think from before the crisis occurred to after it ends (sound familiar?) Then the cycle begins again with a new high.

According to the theory we entered the Fourth Turning of this particular 80 year cycle in 2008, and we are due for our next major crisis by ~2028. At this rate I'd be surprised if it takes that long. Social cohesion seems to be rapidly unraveling since Covid emerged.

The good news is that if this theory plays out the crisis will inevitably be followed by a recovery (albeit after much pain). The bad news is that this theory is not bullish for stocks or general economic prosperity over the next decade. LOL

If nothing else, it is an interesting theory.

https://www.amazon.com/The-Fourth-Turning-audiobook/dp/B00005UPTV/
 
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pepperMonkey

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Aug 2, 2005
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And go where? Ain't one leaving just because of higher taxes. Most 1st world countries are starting to tax the rich. The wealth gap needs to be shrunk if it doesn't. We could see more and more violence as the years go by.
I understand why the government is doing what it is doing. And they are right in trying to close that wealth gap. It's the way they are doing it is the problem. Look at California and the massive migration out of there. Silicon Valley is shrinking as we speak. A ton of them has been migrating to Austin, Texas because of it. Well, do this to all wealthy and the wealthy will do whatever they can to preserve their way of life and their wealth. An extra 5% tax? Sure they wouldn't leave. An extra 10% tax? They may rage but probably tolerate it but to be dinged double what they have been paying? Yeah, I think many will leave. Sure, a lot of first-world countries are starting to tax the rich. Well, the world isn't just first-world countries. The uber-rich can simply go to cheaper places and live in their own walled-up private gardens.
 

Mike8

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Jun 24, 2002
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It astonishes me at how all the people who go marching in the street over social issues that are largely irrelevant to their daily lives sit around idly while the government kneecaps their retirement funds.

How are retirement funds being kneecapped?
 

The Crypto Guy

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Jun 26, 2017
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Too bad I bought a whole bunch earlier today at $54.5k. Sigh. Technical analysis was never one of my strengths.
Haha yea i gave up trying to predict what is going to happen a long time ago. Normally whatever I think is going to happen, the opposite occurs :laugh:
 

pepperMonkey

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Aug 2, 2005
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X

bc it has more space on it so as time goes on and my portfolio expands I never have to worry about a lack of space on my device...

If you only plan on holding bitcoin and a couple alt coins get the S but I know myself and there will be too many sexy alt projects down the road that I'll need to be in on.
Umm...my opinion only but if you own a lot of $$$ in crypto, I would seriously consider having more than one hardware wallet and spread your holdings. I got Nano S's simply because of this. Albeit, I don't really have enough crypto to technically rationalize this (yet) but here's hoping I would in the future, lol
 
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ZDH

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Mar 6, 2008
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Umm...my opinion only but if you own a lot of $$$ in crypto, I would seriously consider having more than one hardware wallet and spread your holdings. I got Nano S's simply because of this. Albeit, I don't really have enough crypto to technically rationalize this (yet) but here's hoping I would in the future, lol

In its history a Ledger has never been successfully hacked, so I have no concerns. My keys are backed up in a steel "pill" so I have no concerns of losing it to fire either. No theft concerns either, my Great Pyrnees is always patrolling. ;)

But I do appreciate you looking out for me. :thumbu:
 

BreadManPanarin

Registered User
Mar 15, 2017
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Haha yea i gave up trying to predict what is going to happen a long time ago. Normally whatever I think is going to happen, the opposite occurs :laugh:

Usually I don't buy nearly as much in one shot as I did today, but I was worried about getting it in before earnings reports. Just a lapse of discipline. I should have split it into 4-6 smaller purchases over the course of today and tomorrow. Oh well. $54.5k vs $51.5k doesn't much matter in the long term.
 

pepperMonkey

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Aug 2, 2005
5,252
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In its history a Ledger has never been successfully hacked, so I have no concerns. My keys are backed up in a steel "pill" so I have no concerns of losing it to fire either. No theft concerns either, my Great Pyrnees is always patrolling. ;)

But I do appreciate you looking out for me. :thumbu:
But what if they accidentally eat you pill??? lol.

Seriously though, I don't really have concerns about it being hacked although I do believe, at its current version, will be hacked sooner or later. What I'm more concerned about is keeping it all in one basket and somehow losing it. Whether by your pill getting eaten by your patrollers, losing your key in a fire, earthquake, tornado, losing access to your bank deposit box, or whatever.
 

ZDH

Registered User
Mar 6, 2008
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But what if they accidentally eat you pill??? lol.

Seriously though, I don't really have concerns about it being hacked although I do believe, at its current version, will be hacked sooner or later. What I'm more concerned about is keeping it all in one basket and somehow losing it. Whether by your pill getting eaten by your patrollers, losing your key in a fire, earthquake, tornado, losing access to your bank deposit box, or whatever.

Fair enough, knowing me I would be worse off with more wallets and keys to keep track of than just one but I definitely see your point as well.
 

Primary Assist

The taste of honey is worse than none at all
Jul 7, 2010
5,910
5,699
Seems like a good buying opportunity for crypto (but isn't it always?) and that tomorrow might be a great buying opportunity for equities. If the sell-off continues then people will just end up buying back once the economy is firing again and earnings keep rolling in. This correction/gap down was also inevitable since just about all major indices are at/near record highs due to the stimulus and reflation efforts.

Plus, as they said on Bloomberg after hours, there really isn't any proof that capital gains tax rates have an impact on market performance.

Capital Gains Tax Rate and Stock Market Returns - CXO Advisory

Don’t Fear a Higher Capital Gains Tax. That Usually Doesn’t Affect Stocks.
 

Laodongxi

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Mar 8, 2011
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