How much did you lose in the stock market meltdown?
- Thread starter stinkynuts
- Start date
People always say it is only a paper loss, but I don't necessarily agree with that. I sold most of my equities back in January. Just did a calculation and I saved about $300,000 in losses.That's nothing Stinkynuts...I know people who are down $1MM....but guess what? They don't care. The losses are on paper only;
Yes, people who don't sell may get back even in say 3 years. But I can buy back all the stocks (more shares than i sold since it is cheaper) today and in 3 years, I would be up $400,000 instead of being even. That to me is not just a paper loss, it is real profits. Of course, the hard part is knowing when to go back in, but even if I don't catch the bottom, it still sets up future potential profits
Bingo. I have lost a shit load. Missing a once in a lifetime...or decades opportunity to buy triple the number of shares I am sitting on.People always say it is only a paper loss, but I don't necessarily agree with that. I sold most of my equities back in January. Just did a calculation and I saved about $300,000 in losses.
Yes, people who don't sell may get back even in say 3 years. But I can buy back all the stocks (more shares than i sold since it is cheaper) today and in 3 years, I would be up $400,000 instead of being even. That to me is not just a paper loss, it is real profits. Of course, the hard part is knowing when to go back in, but even if I don't catch the bottom, it still sets up future potential profits
I will when I buy, not sure I guarantee “should”
That's okay, your signing anything....lol but I just if it gets really low, at some point it's going to go back up.
Rebound yes - but over the next 3-5 years is the estimate a lot of my much-smarter-about-markets-then-me friends. Most of them cashed out the last few months and now are day trading until they see the timing is right to buy back into the markets.Actually, it's not true.
It's a balance transfer with a 0% rate for one year. I had to pay a 3% fee though. But still, since the market is down 25%, in one year I think it will rebound more than 3% to recoup my losses and make a small profit.
I hope you're right for you situation, but history/experience is pointing to 3-4 years to get back to where you bought in. Good luck S.N.
Nothing. I sold everything in November. As soon as I heard rumblings that China had a new virus. I won't be getting back in for a while. Companies will be hit large this quarter and maybe next. I'm projecting Dow down to 14,000 at the bottom
StinkyNuts, did you read the fine print on that offer?Actually, it's not true.
It's a balance transfer with a 0% rate for one year. I had to pay a 3% fee though. But still, since the market is down 25%, in one year I think it will rebound more than 3% to recoup my losses and make a small profit.
If this is similar to other offers I have received for my Credit Cards; that 3% fee equates to $900. The balance transfer has a promo rate of 0%....but the $900 fee is being charged interest at your usual Purchase Rate of 19.99%.
When you make payments to your Credit Card, the Bank prorates the payment and applies it proportionally to each category on your Credit Card. This is perfectly legal; Banks apply your payments in this manner in order to ensure they collect the most interest they possibly can.
$30,000 Balance Transfer/$30,900 Balance = 97%
$900 Fee/$30,900 Balance = 3%
So, if you were to make a $900 payment right now thinking you will clear off the Fee on which you are being charged interest; what happens is the Bank will only apply $27 to the fee and the remainder to the Balance Transfer. You will continue to pay interest on that $900 over the course of the 12 month promotion...the only way not to pay interest is to bring your Credit Card balance back to $0.
None of the above.
I cashed out in January of my trading plus retirement accounts of all equities, my preferreds have low book costs and high yields and fixed income won't touch because I still have good yields to maturity, since then have been playing mostly the options market with some short trading but those positions I've ended/filled today. Will stay cash but will execute trades given market for short term opportunities but given we're headed into a recession it's a waiting game. When I see signs of upturn I will look for bargains in certain sectors and take advantage to build my portfolio again.
VBB
I cashed out in January of my trading plus retirement accounts of all equities, my preferreds have low book costs and high yields and fixed income won't touch because I still have good yields to maturity, since then have been playing mostly the options market with some short trading but those positions I've ended/filled today. Will stay cash but will execute trades given market for short term opportunities but given we're headed into a recession it's a waiting game. When I see signs of upturn I will look for bargains in certain sectors and take advantage to build my portfolio again.
VBB
StinkyNuts, did you read the fine print on that offer?
If this is similar to other offers I have received for my Credit Cards; that 3% fee equates to $900. The balance transfer has a promo rate of 0%....but the $900 fee is being charged interest at your usual Purchase Rate of 19.99%.
When you make payments to your Credit Card, the Bank prorates the payment and applies it proportionally to each category on your Credit Card. This is perfectly legal; Banks apply your payments in this manner in order to ensure they collect the most interest they possibly can.
$30,000 Balance Transfer/$30,900 Balance = 97%
$900 Fee/$30,900 Balance = 3%
So, if you were to make a $900 payment right now thinking you will clear off the Fee on which you are being charged interest; what happens is the Bank will only apply $27 to the fee and the remainder to the Balance Transfer. You will continue to pay interest on that $900 over the course of the 12 month promotion...the only way not to pay interest is to bring your Credit Card balance back to $0.
Thanks for the info. That is very sneaky of them. I did the math, and if you add the fact that they charge 20% on the $900, it's more like a total of 4% a year instead of 3%. Still, I hope to come out ahead.
Ouch. That is tough, but it will rebound, it may be a few years though.60% of my retirement investments.
Nice timing!Unrealized loss so didn't lose anything yet. The markets will come back, they always do. No need for alarm.
It appears 3 people lost over 1M! That is crazy. That's 4,000 one hour sessions with a good sp.
Only if they cashed out which would be the wrong thing to do right now. It's like real estate... if housing crashes and property values decrease, owners don't have a material loss unless they sell. These losses are all on paper.Nice timing!
It appears 3 people lost over 1M! That is crazy. That's 4,000 one hour sessions with a good sp.
The man that successfully predicted the 2008 financial crisis says the fallout from COVID19 will be many times worse.
https://cryptopotato.com/peter-schi...-be-worse-than-the-2008-financial-crisis/?amp
https://cryptopotato.com/peter-schi...-be-worse-than-the-2008-financial-crisis/?amp
I’m wondering the same. I’m down by about a mill but thankful for the dividends coming in. Wondering if anyone knows what’s to come for the real estate.Does anybody know how this will affect the real estate market in Vancouver?
Bank of Canada just reduced the Overnight Rate (again) by 50bps. That's 1.00% over the course of 14 days.I’m wondering the same. I’m down by about a mill but thankful for the dividends coming in. Wondering if anyone knows what’s to come for the real estate.
If the cost of money becomes cheaper, people are able to qualify for larger mortgages; ergo, real estate prices should continue to remain stable....it has to. The stock market can go sideways, but the largest asset most Canadians have is real estate. If real estate crashes, so does consumer confidence; and it's all downhill from there.
