As I’ve admitted many times, I am inexperienced and ignorant vis a vis the stock market. Other than short term trades during crashes - only a year ago did I start putting money into stocks, and now I am using the dry powder, albeit in dribs and drabs.
I really feel the media sensationalizes everything. Forget politics. But the weather. “The blah-blah-region is gonna see a bomb-my-butt-ibis-genosis” Or my favorite - “A wintery mix” and all the parents start parroting it and I feel like saying “Duh, it’s winter. It’s cold and wet”
“Investing” - which where it comes to stocks I continue to believe it’s 60% legit, 40% WWF Wrestling.
Geez, daily they talk about it with furry wild animals who poop on the woods. “Bear!” “Bull!”…
The cute starbursts, graphs, tickers. People who never ran a lemonade stand shouting “Strong buy!” “Conviction!” And then when it inevitably goes down they tell the people about the joys of ‘harvesting tax losses’. (I dunno, I had a few losses in my business life. I felt profits bought nicer stuff)
Now they are going on and on about .50% vs .75%. But but but! Powell told the reporter that .75% is not in consideration!!! Oh please. Stop it. This week in the Stanley Cup Finals, coaches will mix up player lines based on what is going on during the game. Things change.
“The Fed has done a good job engaging with the market” - what the heck? Did they do a good job spending a year telling the middle class “sorry but everything you rely on to get thru the week is gonna whack your taters with higher prices”?
Rant sort of over. I respect how most hear have succeeded and done well in this arena. And I’m hoping that by going quality and mainstream and leaving it alone for 4-5 years, I can do ok too.
But geez, sometimes it’s pure Barnum and Bailey time.
The sole one I’ll admit I watch - and thoroughly enjoy is the Judge. Scott Wapner and his investment committee people daily at 12 noon. CNBC. I so love him as a moderator - and I feel that guests are held accountable - good or bad for recommendations they make. Not to mention, a few of his investment committee…Liz Young and Shannon Shacoccia - well, let’s just leave it at they are extremely easy on my eyes:)
I know some go ga-ga over Jim Cramer…and I’m not qualified to decide if he’s good or bad, right or wrong- but I rarely pay attention. If I hear he is favorable on something I’m holding - frankly I get nervous.
When I was a kid I used to love Money Magazine - this guy Michael Sivy had great stock write ups.
There are hundreds of thousands who will gladly take your money and ‘advise’ you on what to buy…and most of them are either clueless or want to sell you stuff where they make fat commissions.
Worst of all is most of the annuity salesmen/women who masquerade their products in 'we protect your future with our ‘basket’ of investments - much of it some form of annuity deal where you are quite likely with high probability make them rich of commissions and up front fees, and every year thereafter as they take a ‘management fee’ right off the top - whether you are making money or losing it. Usually there is no way out other than a very big exit fee.
Read
Malkiel - A Random Walk Down Wall Street
Stanley - The Millionaire Next Door
Avoid Suze Orman and the other oracles on CNBC, MSNBC, etc. I remember Suze telling her listeners in the 2008 crash 'if you don’t feel comfortable leaving your money in the ‘down’ market, move it to ‘safer’ investments like bonds". Twelve months later the market recovered. those who listened to her ‘advise’ sold at the bottom. Bought high, sold low. A recipe for financial disaster.
Way way back when, I subscribed to a newsletter that recommended and tracked ‘zero debt’ dividend payers. Bought into a few. Been very nice to me. Still like dividend payers. Don’t go up as much as ‘tech stocks’ do, but don’t go down as much as ‘tech stocks’ do.
Right now I’d hate to be the one who invested heavily in the FAANG stocks. Down 40% most of them. Of course, they are still up over the past 5 years - but not all. Of course, if you had a crystal ball and sold them last December, you’d be happy, but who had the crystal ball?
