Asked a buddy who is a financial advisor: “How many of your clients sold everything at the bottom during the panic this spring?” Number was 2 couples. He said they shared one thing: Both couples are retired and watch cable news all day long every day.
I sold 50% of my equity holdings on May 1st and according to vanguard what I have remaining has earned me a 0.5% negative return since I started investing in 2016, so I guess I need to watch less cable news.
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Fox and CNN both started showing me promoted tweets the moment "cable news" showed up in a Girdley tweet. Also: TESLA SHORTS TESLA ELON MUSK ROBINHOOD TRUMP MALE PATTERN BALDNESS (That'll show the ad algos!)
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That's basically my non-sponsored feed haha.
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It's early, but if we're only up from here this will be a singular event in financial history. Never before will we have seen such a huge economic event so irrelevant to the markets. IMVHO, no way this market lasts through September. Unless they make it fucking rain money...
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I kicked myself initially for not selling things off in February - there was one Friday I remember thinking that the bottom was about to fall out, and lo, it did that next monday. But in the end I'm back up to about where I started...
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Now I'm kicking myself because I did start keeping my new contributions in cash. Probably should have bought the dip ¯\_(ツ)_/¯
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