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WWAW losing all your money

FranksWirecutters

Glow nigger. Got any of those IPs for me?
This was when I was selling cars and I made a pretty large commission on a pre-owned Jaguar XJ that was absolutely flawless for it's age and just traded in a day before so the price wasn't negotiable because of it's condition. Some guy in Saratoga Springs NY called and inquired about it and bought it on the spot over the phone. I was in Massachusetts so I told him he needed to register the car himself in NY and he understood. So I drive from Boston to Saratoga Springs which was about 4 hours. I get pulled over in the guys car because I forgot to put the dealer plate on and drove 200 miles with no plates. The cop wasn't understanding at all, especially since I was also driving on a suspended license. I had to call the guy who bought the car to come meet me about 10 miles from his mansion because I had gotten pulled over and was in trouble. He came and we finished the deal and I had to wait for my tail car to catch up to me as I got arrested for driving with a suspended license and also a warrant for a non violent crime. I had a tail car that was following me so I needed to also wait for him. He was way behind because he drove super slow and that XJ flew. He was an old guy who's job at dealership was to do jobs like this. So he just said ok and turned around. I had to spend the weekend in an upstate NY jail as I straightened everything out, and overdrafted because of it.

The $1000+ commission ended up costing me over 6k.
Opie, Anthony, and Patrick have the best fans.
 
Shit doesn’t just constantly go up forever. Don’t try to time the market just buy and hold and forget about it.
This is the fucking truth. Just focus on weathering the storm. It’s only a loss if you actually sell.

The economy and stock market enjoyed like 12 or 13 years of money printing and bond buying to prop the shit up by keeping treasury yields low. Then you had the massive stimulus (aka more money printing) when Covid hit.

I don’t even know how the money to Ukraine fits into this because I’m bored with it all but I imagine it’s just more massive spending. The point is it’s been a long time since we’ve felt some serious pain in the markets.

They’re raising rates for a reason, and it’s to destroy demand because its too risky to let it continue to run hot. I personally believe it’s a good thing to let the shit cool off.

Edit: Disclaimer - I’m just a jabroni with no licenses, credentials, or qualifications so just consider me a gay virgin Patrick
 
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This is the fucking truth. Just focus on weathering the storm. It’s only a loss if you actually sell.

The economy and stock market enjoyed like 12 or 13 years of money printing and bond buying to prop the shit up by keeping treasury yields low. Then you had the massive stimulus (aka more money printing) when Covid hit.

I don’t even know how the money to Ukraine fits into this because I’m bored with it all but I imagine it’s just more massive spending. The point is it’s been a long time since we’ve felt some serious pain in the markets.

They’re raising rates for a reason, and it’s to destroy demand because its too risky to let it continue to run hot. I personally believe it’s a good thing to let the shit cool off.
whenever there's gonna be a massive money-printing is a good time to buy stocks, gold, etc. Seems counter-intuitive but since the value of money goes down the value of assets (relatively) goes up
 
buy a house a few years ago and steadily invest in something boring like a total market ETF. market goes up, I buy the same each month. market goes down, I buy the same each month. time is on my side so I don't care, I'm investing for retirement decades from now

I know people buying houses right now that pay 50% more than I do for the same amount of house and will continue to for 30 years
 

StentClassic

Cars aren't built like they used to be.
the-simpsons-grampa-simpson.gif
 
buy a house a few years ago and steadily invest in something boring like a total market ETF. market goes up, I buy the same each month. market goes down, I buy the same each month. time is on my side so I don't care, I'm investing for retirement decades from now

I know people buying houses right now that pay 50% more than I do for the same amount of house and will continue to for 30 years
This is my tired, boring ass strategy and I’ll be retired by 45. I’m actually in the middle of job change that should give me a $30k/year raise that might let me make that 44 or even 43. Boring strategies work.
 

Cuphead

Formerly know as Fat Abbot
If you're feeling that down about It I recommend pulling any other money you have in the market out as its only going to get worse. Remember the #1 rule of investing is only investing what you can afford to lose.
 
Faggots keep telling me "buy the dip" .."the housing bubble will burst"....I've lost half of my fucking money this year and have no property. Feeling pretty down in the dumps like I've worked every day of my life for nothing. I hope the people behind the covid financial nonsense fucking die. Nice listening to bad advice, stupid.
I started an IRA in the Fall of 2008 after the Dow went below 10,000. By December I'd lost a lot of that initial money. 2 years later, that investment started looking like a very smart decision. Today, all my compound interest reflects the fact that I started at that time. I'd also recommend holding back some investment until November just to see how bad things get.

Don't look at this short term. Even 10 years is too immediate of a payoff for what most people are doing. Without giving out too much info, are you early 20s, late 20s, early 30s?
 
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