Monday, February 05, 2018

Dow Drops 1,000

U.S. stocks resumed their downward trajectory after Friday's selloff, while European and Asian equities also slumped. Treasury yields fell and the dollar stabilized. Oil dropped and copper rose. The Dow Jones Industrial Average fell below 25,000 Monday, while sectors on the broader S&P 500 Index declined across the board. The Stoxx Europe 600 Index retreated for a sixth day, its longest losing streak since November, following similar moves across Asia as both regions took their cue from the U.S. rout on Friday. Yields on core government bonds in Europe fell, as did those of 10-year Treasuries. The pound slumped, and the euro declined.

More

Equity investors are looking for confirmation that recent declines represent the healthy correction many had expected after the stellar start to the year. The downward move was sparked by U.S. wage data on Friday that pointed to quickening inflation, which would lead to higher rates and, in turn, rising borrowing costs for companies.

"I think sentiment was a little too optimistic," said Brad McMillan, chief investment officer for Commonwealth Financial Network. "What was driving the market up in January? It wasn't the fundamentals, as good as they were, it was excessive confidence."

Comments

"What was driving the market up in January? It wasn't the fundamentals, as good as they were, it was excessive confidence."

Talk is cheap. Trump needs to do something besides play the reality TV show in his mind.

#1 | Posted by BruceBanner at 2018-02-05 03:15 PM

"how's your 401k doing?"

- Dotard Devotees

#2 | Posted by BruceBanner at 2018-02-05 03:20 PM

I think it's about to become Obama's economy again.

#3 | Posted by Zed at 2018-02-05 03:47 PM

Where are all the Trumptards now to bleat how Trump is solely responsible?

#4 | Posted by e1g1 at 2018-02-05 04:05 PM

I bet everybody who retired in the last 6 months based on the value of their 401(k) are sure glad they had a 401(k) instead of a pension.

Someone who saved for 40 years to get enough of a nest egg to last 30 years in retirement now only have enough for 27 years after the last 4 trading days.

#5 | Posted by hatter5183 at 2018-02-05 04:10 PM

It trump wants credit for the gains, he gets credit for the drops.

But we know that's not how it'll work.

He'll claim credit for obama's economy, then blame obama for his own crash.

#6 | Posted by SpeakSoftly at 2018-02-05 04:14 PM

I bet everybody who retired in the last 6 months based on the value of their 401(k)

Every 401(K) plan made available to me through my employer had a bond (not tied to the market) option. As people get closer to retirement they have the ability to move their 401(k) contributions and past gains out of market-tied mutual funds and into bond funds in order to provide a far more stable source of retirement income.

#7 | Posted by JeffJ at 2018-02-05 04:17 PM

Thanks Orange Adolf. So much losing!

#8 | Posted by aborted_monson at 2018-02-05 04:17 PM

It was due, I went 80% cash 6 months ago.

#9 | Posted by bat4255 at 2018-02-05 04:23 PM

"DO SOMETHING!"

~Dolt 45~

#10 | Posted by reinheitsgebot at 2018-02-05 04:24 PM

As people get closer to retirement they have the ability to ....
#7 | POSTED BY JEFFJ AT 2018-02-05 04:17 PM | REPLY

"No, no, no!! It's all Trump's fault, JiffyJeff!!" - DR Butthurt Quartet

#11 | Posted by SheepleSchism at 2018-02-05 04:25 PM

This is tragic because the dotard said the Dow is the best and most bigly indicator of the economy. Covfefe.

#12 | Posted by IndianaJones at 2018-02-05 04:26 PM

Awesome!

Nicely played.

So... basically the unwashed masses get an extra $75 in one pocket and then when you are not looking they take a $1000 out of the other pocket.

You guys just don't appreciate the work of our Stable Genius.

...

So much #Winning! gives me such a headache!

🤕

#13 | Posted by donnerboy at 2018-02-05 04:30 PM

Case in point that the DR Left cherishes bad economic news whenever a (R) is in office...

#14 | Posted by Rightocenter at 2018-02-05 04:34 PM

Buying opportunity!😎

#15 | Posted by MSgt at 2018-02-05 04:35 PM

My stock reporter is going bananas. Numbers I'd expect if companies had severe scandals. Just a Monday in Trumpville.

#16 | Posted by BruceBanner at 2018-02-05 04:36 PM

#14 Wow. You think people are happy about losing their savings? That's some messed up stuff.

#17 | Posted by BruceBanner at 2018-02-05 04:36 PM

I'm about 20 years or so away from retirement so this won't affect me. I do however feel very badly for those who are close to, or are at retirement, and didn't move most of their savings into more stable investments like bonds or T-bills.

#18 | Posted by JeffJ at 2018-02-05 04:38 PM

"No, no, no!! It's all Trump's fault, JiffyJeff!!" - DR Butthurt Quartet

#11 | POSTED BY SHEEPLESCHISM AT 2018-02-05

Sing it sheepishly!

But no way it is Humpy Trumpy's fault.

He only takes credit for Good things. Things that he is not remotely even responsible for. Things he sees on Fox News. Like the black unemployment rate and airline safety.

Trump is now a Player in the big leagues now.

A player that does not have a clue of the inner relationships of an economy as large and intricate as ours.

If he and Congress don't get their ----- together and pass a real budget they can take down the entire global economy too.

You know...

Like that last Republican President (He Who Shall Not Be Named ) did.

#19 | Posted by donnerboy at 2018-02-05 04:41 PM

They're saying maybe a 20% correction.

#20 | Posted by BruceBanner at 2018-02-05 04:41 PM

#11 the stock market is a valuation of the "future value" of the underlying company. So yes. It is.

#21 | Posted by BruceBanner at 2018-02-05 04:43 PM

The first major crash I went through since I started investing was Black Monday in Oct 87. Then the market fell over 22%, whereas this 8% pull back is just a needed/overdue correction and I would not be surprised if it fell a bit more before bottoming out which is why I'll wait a few more days before committing as I have an eye on GLW [Corning Inc.]. Rising treasury yields are much of the reason for the fall; that and panic selling just as in '87 and '08.

#22 | Posted by MSgt at 2018-02-05 04:48 PM

"I do however feel very badly for those who are close to, or are at retirement, and didn't move most of their savings into more stable investments like bonds or T-bills."

Get well soon!

#23 | Posted by snoofy at 2018-02-05 04:48 PM

It's the Democrats fault because they didn't clap during Trump's SOTU speech!

#24 | Posted by Gal_Tuesday at 2018-02-05 04:49 PM

#24

That's treasonous!

#26 | Posted by Corky at 2018-02-05 04:51 PM

Hey, wait! That extra $1.50 per week I got in my paycheck is now all gone. Must be the fault of that colored Kenyan guy, Hussein Obama-mama Ding Dong...
--Trump believers, most of whom with no retirement savings

#27 | Posted by catdog at 2018-02-05 04:53 PM

Some people I know are starting to realize that their pay increases due to the tax cuts are being negated by their increased health insurance costs. And so it goes.

#28 | Posted by Gal_Tuesday at 2018-02-05 04:57 PM

instead of a pension.

#5 | POSTED BY HATTER5183 AT 2018-02-05 04:10 PM | REPLY

California government pensions are tied to the stock market, or they'd be insolvent.

#29 | Posted by sitzkrieg at 2018-02-05 04:57 PM

"Some people I know are starting to realize that their pay increases due to the minimum wage being hiked is being negated by inflation costs. And so it goes."

just sayin....

#30 | Posted by eberly at 2018-02-05 05:02 PM

Um, "The fundamentals of our economy are strong"?

MSNBC‏ @MSNBC
Despite the dramatic fluctuations in the Dow, White House officials tell reporters that "fundamentally the White House believes the economy is strong."

#31 | Posted by Gal_Tuesday at 2018-02-05 05:02 PM

#22 | POSTED BY MSGT AT 2018-02-05 04:48 PM | FLAG:

They're saying it could be 20%

#32 | Posted by BruceBanner at 2018-02-05 05:03 PM

Case in point that the DR Left cherishes bad economic news whenever a (R) is in office...
#14 Posted by Rightocenter at 2018-02-05 04:34 PM

NOT. AT. ALL. Trump invited all of this on himself by taking credit for doing...well, not very much.
When you paint a target on yourself over and over, how can you complain when people take their shots?

#33 | Posted by e1g1 at 2018-02-05 05:03 PM

"They're saying it could be 20%"

They don't know ----.

#34 | Posted by eberly at 2018-02-05 05:04 PM

I bet everybody who retired in the last 6 months based on the value of their 401(k) are sure glad they had a 401(k) instead of a pension.
Someone who saved for 40 years to get enough of a nest egg to last 30 years in retirement now only have enough for 27 years after the last 4 trading days.

#5 | POSTED BY HATTER5183 AT 2018-02-05 04:10 PM | FLAG:

Just to put a number on this, state pensions have $4 trillion invested.

#35 | Posted by sitzkrieg at 2018-02-05 05:05 PM

#22 | POSTED BY MSGT AT 2018-02-05 04:48 PM | FLAG: Correction to my typo - it was over 28%, not 22, that the market fell on Black Monday.

#36 | Posted by MSgt at 2018-02-05 05:06 PM

Obama's fault.
LOL

#37 | Posted by Doc_Sarvis at 2018-02-05 05:07 PM

AS the wealth begins to flood upwards again, the tinkle down becomes a obvious fraud... until the next real crash, when the elite retreat to count their gains and the Dems are left to once again clean up the mess and take the blame for how long that takes; Starve the Beast still being werked for all it's worth.

#38 | Posted by Corky at 2018-02-05 05:08 PM

Case in point that the DR Left cherishes bad economic news whenever a (R) is in office...
#14 Posted by Rightocenter at 2018-02-05 04:34 PM

NOT. AT. ALL. Trump invited all of this on himself by taking credit for doing...well, not very much.
When you paint a target on yourself over and over, how can you complain when people take their shots?

#33 | POSTED BY E1G1 AT 2018-02-05 05:03 PM | FLAG:
Exactly. Goose, gander, all that stuff.

Trump toots his own horns constantly, but none so loudly as the one that says, I saved America's economy! The stock market is proof!

#39 | Posted by cbob at 2018-02-05 05:12 PM

"They're saying it could be 20%"

They don't know ----.

#34 | POSTED BY EBERLY AT 2018-02-05 05:04 PM | FLAG:

Blackstone's Tony James Sees Market Correction of 10% to 20%

Equity markets could fall as much as 20 percent this year, Blackstone Group LP President Tony James said. "Every historic norm says that stocks are very, very fully valued," James said Monday in an interview on CNBC, adding that the market decline could be 10 percent to 20 percent.

Hamilton Evans "Tony" James is president, chief operating officer and a director of Blackstone, a New York-based global asset management firm. He is also a known philanthropist. Born: February 3, 1951 (age 67), Wyandotte, MI Net worth: 1.89 billion USD (2018)

The Blackstone Group L.P.
Type: Master limited partnership
Traded as NYSE: BX
Industry: Financial services
Revenue US$ 7.484 billion (2014)
Net income: US$ 1.584 billion (2014)
AUM: US$ 311 billion (2015)[1][2]
Total assets: US$ 31.510 billion (2014)
Number of employees: 2,190 (2014)

#40 | Posted by BruceBanner at 2018-02-05 05:13 PM

One significant advantage of a 401K over a pension is that the remainder of a 401K can be inherited. I know of two persons that retired and then passed after only a few years. They both had most of their retirement in defined benefit pensions so there was relatively little to pass onto the next generation.

#42 | Posted by visitor_ at 2018-02-05 05:16 PM

49

yeah? so?

Tony James released this information before last Friday?

#43 | Posted by eberly at 2018-02-05 05:18 PM

42

You can have a 401-K in very safe investments....similar to what Pensions can invest into.

#44 | Posted by eberly at 2018-02-05 05:22 PM

"AS the wealth begins to flood upwards again"

again? when did it stop? or even slow down?

#45 | Posted by eberly at 2018-02-05 05:25 PM

Well this sucks. I just lost a -------- of money. Thanks Donnie. Now guarantee me the market won't continue plummeting over the next week. You can't. Because you're a huckster.

Y'know, all things being equal, most of us liberals would prefer that if Donald Trump has to be a ------ president then at least we make money on the market and out 401(k)s. But even that doesn't seem likely to happen. Dumbass Donald is not content to bankrupt the country morally. He's got to do it financially also. Lord save us from GOP controlled government.

#46 | Posted by moder8 at 2018-02-05 05:27 PM

#45

If you missed the part about yuuge permanent corp tax cuts and 1 percenter cuts accelerating the process, I'm not sure I can help you.

#41 | POSTED BY 2FRED

Supersizing his Constitutional right of the pursuit of sappiness.

#47 | Posted by Corky at 2018-02-05 05:31 PM

#46 | POSTED BY MODER8 AT 2018-02-05 05:27 PM | FLAG: President Trump is not in control of The Fed any more that obama was so if you want to blame someone for the start you should look to them first. Also, the underpinnings of the economy is good so unless you sold out of panic your investment should be fine; just down for a while which should be an buying opportunity for you.

My wife's 401k funds are down due to this pullback and since her monies, and the company's match dump in every Friday, it is purchasing shares at a lower cost basis [dollar cost averaging].

#48 | Posted by MSgt at 2018-02-05 05:36 PM

"I'm not sure I can help you."

LOL I know. I'm not asking for help.

You are the one who needs help with the English language. "Begins to flow upwards again"?

as though it stopped at some point in recent years.

#49 | Posted by eberly at 2018-02-05 05:40 PM

yeah? so?
Tony James released this information before last Friday?

#43 | POSTED BY EBERLY AT 2018-02-05 05:18 PM | FLAG:

What does last friday mean?

He said it before today's correction.

#50 | Posted by BruceBanner at 2018-02-05 05:44 PM

#49

Arguing the minor point is what people do who really have nothing else to say.

I could have said "Begins to flow upwards more quickly again", but everyone else knew what I meant.

#51 | Posted by Corky at 2018-02-05 05:45 PM

as though it stopped at some point in recent years.

#49 | POSTED BY EBERLY AT 2018-02-05 05:40 PM | FLAG:

It certainly accelerated and then slowed and now is in high gear. I understand the pessimism, but it doesn't have to be a defeat. We can stop this any time.

#52 | Posted by BruceBanner at 2018-02-05 05:47 PM

When this administration came in, and brought Mnuchin, Cohen, and Ross, I looked around to see what asset they could plunder. The strong dollar popped out, so I increased my percentage of non-dollar holdings, and redirected all new investing similarly. I had the best investing year of my life.

Then January was the best investing month of my life...and I got scared things were overheating, so I sold off a bunch of profits two weeks ago. I figure a new Forrester for the bride is better than playing roulette.

#53 | Posted by Danforth at 2018-02-05 05:49 PM

"It certainly accelerated and then slowed and now is in high gear"

can you provide a link on that? "and then", "and now" means what?

I'm happy to talk with you Bruce....Corky is just desperate for a friend....not today.

#54 | Posted by eberly at 2018-02-05 05:50 PM

"He said it before today's correction."

when exactly did he say it?

#55 | Posted by eberly at 2018-02-05 05:51 PM

#54 is just more proof the lawyers aren't the only pettifoggers around here.

#56 | Posted by Corky at 2018-02-05 05:55 PM

"...and I got scared things were overheating, so I sold off a bunch of profits two weeks ago"

I "reallocated" some assets in my retirement...not a major overhaul but I took some profit in some accounts.

Glad I did...

#57 | Posted by eberly at 2018-02-05 06:09 PM

What the frick are people whining about? The DOW is up 20% this year even after the recent drop. Anyone who didn't realize this was very likely should have been in T-Bills. Do people really expect their 401ks to return over 20% a year over the long haul, when that has never happened in history?

I am not defending the blustering blowhard in chief. If he had a clue he would have known that tax cuts only give a short term bump to stock prices, and would not have pumped the bubble for his ego. Stock prices revert to expected future profits over time. Those profits are largely based on how much money customers have to spend rather than tax rates. If you want to grow the economy, you have to encourage people to put money to work, not facilitate low cost wealth hoarding.

#58 | Posted by bored at 2018-02-05 06:10 PM

this year should be in the last year to date.

#59 | Posted by bored at 2018-02-05 06:11 PM

A fantastic time to be selling covered calls.

#60 | Posted by GOnoles92 at 2018-02-05 06:12 PM

#14 | POSTED BY RIGHTOCENTER

This might blow your economically-deficient conservative mind, but you can make money in bear markets. Don't be mad at we the DR Left for anticipating this; the signs were everywhere.

#61 | Posted by IndianaJones at 2018-02-05 06:13 PM

Whew! I am sure I don't even want to know how many trillions of dollars vanished today.

I am sure glad I didn't put my $1.50 into the stock market... at least I still have my crumbs to nibble on.

#62 | Posted by donnerboy at 2018-02-05 06:13 PM

#58 | POSTED BY BORED

You nailed it; click the 2Y chart and it is still absurd growth.

#63 | Posted by IndianaJones at 2018-02-05 06:14 PM

am sure I don't even want to know how many trillions of dollars vanished today.

If there are people getting $paid$ whilst the market declines, is it really a loss?

#64 | Posted by GOnoles92 at 2018-02-05 06:26 PM

An adjustment was inevitable. Hopefully people keep calm enough to not make things worse than they need to be.

#65 | Posted by jpw at 2018-02-05 06:35 PM

#64 You know the answer to that or you are in the wrong industry. Realized trading gains don't mean unrealized book losses didn't happen.

#66 | Posted by bored at 2018-02-05 06:38 PM

Realized trading gains don't mean unrealized book losses didn't happen. #66 | POSTED BY BORED

That's true... and there's always someone/something else on the other side of a transaction.

#67 | Posted by GOnoles92 at 2018-02-05 06:41 PM

Take a bow Trump supporters.

If he's responsible for when the stock goes up he's also that when it goes down.

#68 | Posted by Tor at 2018-02-05 06:55 PM

The President is a clueless a disaster! People are Saying this is Worst stock market Crash in the History of Crashes.

Ever! In the Entire Universe. That's what people are saying.

They are saying he made a train wreck of our economy. Sad!

Also, speaking of train wrecks, what's with Trump making all the trains wreck lately?

He did such a good job keeping the airlines safe but he is terrible with trains.

Poor Humpy Trumpy.

Trouble ahead trouble behind.

#69 | Posted by donnerboy at 2018-02-05 07:31 PM

Has he grabbed credit for this?

#70 | Posted by fresno500 at 2018-02-05 08:00 PM

poster 42, I've never heard of people with a defined pension plan being able to "choose" what their money is invested in. It's a plan that pays for "their" life. Not their free loading kids, (maybe you) that work for a non union shop. If the person that worked for years, lives a long time, they get paid. Not some whiny entitled Trump-like child that wants Daddy's money. Maybe your friends, lazy spawns should stop smoking meth and get meaningful jobs!

#71 | Posted by zelkova at 2018-02-05 08:23 PM

Our guys have a pretty good DB pension and it goes to their spouse for life if they have one when they die.

#72 | Posted by REDIAL at 2018-02-05 08:36 PM

#71 well said!

#73 | Posted by CVA43 at 2018-02-05 08:41 PM

the stock market is straight up gambling.

Just like a poker game, if you haven't figured out who the sucker is in the first fifteen minutes, then its you that is the sucker.

The people who have more (usually inside) knowledge and more money clean out the market every ten years or so. The house wins and the little guy loses.

#74 | Posted by bus_driver at 2018-02-05 08:59 PM

"Maybe your friends, lazy spawns should stop smoking meth and get meaningful jobs!"

Here here!!!

#75 | Posted by eberly at 2018-02-05 09:09 PM

Rough day. Glad I have time.

#76 | Posted by eberly at 2018-02-05 09:19 PM

www.google.com

Tony James said this today.

Big bold prediction while the market is already in decline.

#77 | Posted by eberly at 2018-02-05 09:23 PM

"there's always someone/something else on the other side of a transaction."

And when you lose, the Mnuchins, Cohns, and Rosses of the world win, bigly.

#78 | Posted by Danforth at 2018-02-05 10:43 PM

From Inauguration Day to Feb 5th - here's the performance of the DOW:
Trump - 22.7%
Obama - 38.5%

(for perspective...)

#79 | Posted by YAV at 2018-02-05 10:50 PM

Or, if you are confused:
Trump: +22.7%
Obama: +38.5%

#80 | Posted by YAV at 2018-02-05 10:51 PM

"Our guys have a pretty good DB pension and it goes to their spouse for life if they have one when they die."

There are usually options on how to take a DB pension. Single Life pays out until the recipient passes, with a minimum number of years paid (often 5).

Other options leave a spouse 50%, 75%, or 100%. Each successive option has a smaller current monthly payout, based on the age of the youngest spouse.

#81 | Posted by Danforth at 2018-02-05 11:12 PM

"If the DOW Jones ever falls more than 1000 points in a single day, the sitting President should be loaded into a very big cannon and shot into the sun at a TREMENDOUS Speed. No excuses!"

@ real Donald Trump, 25 Feb, 2015

#82 | Posted by oldwhiskeysour at 2018-02-05 11:15 PM

There are usually options on how to take a DB pension.

Ours is written into the CBA. Recipient passes, spouse gets 100% until he/she passes, all based on recipient's years of service.

#83 | Posted by REDIAL at 2018-02-05 11:18 PM

"Recipient passes, spouse gets 100% until he/she passes"

Does a single person get exactly the same?

#84 | Posted by Danforth at 2018-02-05 11:19 PM

Donald J. Trump‏ @realDonaldTrump

The stock market and US dollar are both plunging today. Welcome to @BarackObama's second term.
1:05 PM - 7 Nov 2012

#85 | Posted by Gal_Tuesday at 2018-02-05 11:26 PM

Does a single person get exactly the same?

Yes. Single person passes, it's over.

#86 | Posted by REDIAL at 2018-02-05 11:28 PM

Bruce Bartlett‏
@BruceBartlett
Follow Follow @BruceBartlett
More
The stock market just noticed that an unstable lunatic is president of the United States.

2:34 PM - 5 Feb 2018

#87 | Posted by reinheitsgebot at 2018-02-05 11:29 PM

"exactly the same"

Yikes.

The same pension is worth a lot more to a married couple.

#88 | Posted by Danforth at 2018-02-05 11:33 PM

Donald J. Trump‏ @realDonaldTrump

"President Trump is not getting the credit he deserves for the economy. Tax Cut bonuses to more than 2,000,000 workers. Most explosive Stock Market rally that we've seen in modern times. 18,000 to 26,000 from Election, and grounded in profitability and growth. All Trump, not 0...
5:50 AM - 14 Jan 2018

#89 | Posted by Gal_Tuesday at 2018-02-05 11:35 PM

The same pension is worth a lot more to a married couple.

Absolutely. I'm quite surprised the young gold diggers have not figured that out yet.

#90 | Posted by REDIAL at 2018-02-05 11:36 PM

In other news Bitcoin is below $7k...pushing closer to $6k now. I hate to say I told you so when it's costing so many suckers so much money.

#91 | Posted by gavaster at 2018-02-05 11:41 PM

I hate to say I told you so when it's costing so many suckers so much money.

Buying opportunity!!!

#92 | Posted by REDIAL at 2018-02-05 11:44 PM

Buying opportunity!!!

#92 | Posted by REDIAL at 2018-02-05 11:44 PM | Reply | Flag

I have an acquaintance that is saying that about bitcoin. He started buying in around $16,000.

www.worldcoinindex.com

#93 | Posted by 726 at 2018-02-06 06:49 AM

XMR is down to $186 from $370 2 months ago. Still profitable to mine it, but hopefully the downturn will restore some sanity to the high end video card market.

#94 | Posted by sitzkrieg at 2018-02-06 08:54 AM

but hopefully the downturn will restore some sanity to the high end video card market.

True that. Everyone has been putting high end cards in crappy computers to mine things..

#95 | Posted by boaz at 2018-02-06 10:49 AM

XMR is going to experience substantial growth in price soon so I'm happy it's down so low. The difficulty of mining it has increased tremendously in the last 6 months and the price has gone down. Now that more exchanges are using it, it is a gold mine waiting to happen. I don't see video cards getting any less expensive anytime soon.

#96 | Posted by humtake at 2018-02-06 11:44 AM

AMD is going to sell limited quantities at retail direct to gamers. No 6 or 8-pack purchases. Works for me, I'm waiting on Vegas64 to come in stock. No way in hell I'm paying 50%+ over retail for one though.

#97 | Posted by sitzkrieg at 2018-02-06 12:47 PM

"AMD is going to sell limited quantities at retail direct to gamers."

"Gamers."

I will believe cryptocurrency is a bust when GPU prices start acting like they're subject to Moore's Law again. I have two cards that can be used for mining and they're both going for one or two bills more than I bought them for... if you can even find one, which you can't, except in resale markets.

#98 | Posted by snoofy at 2018-02-06 12:51 PM

They're capping the quantities in individual sales so it will be a hassle to buy it for mining, you'd need multiple identities and shipping addresses, real hassle for a big mine to buy up stock. Allegedly. We'll see how that goes. I just need 1 new Vega64, but right now even on newegg it's a $650 card going for $1200.

#99 | Posted by sitzkrieg at 2018-02-06 01:30 PM

Why not let the market decide...

#100 | Posted by snoofy at 2018-02-06 02:20 PM

The market is working. AMD is consenting to sell direct at MSRP. If I don't want to wait I'll get a GTX 1080 instead for $600, I'm not stuck on the brand.

#101 | Posted by sitzkrieg at 2018-02-06 02:49 PM

"Someone who saved for 40 years to get enough of a nest egg to last 30 years in retirement now only have enough for 27 years after the last 4 trading days." - Hatter

Someone who invested 10K 40 years ago when the DJIA was around 805 would be very wealthy today. Had they started at zero and invested just 1-2% of their income each paycheck, they would be wealthy at this time.

EVEN IF THEY LEFT EVERY DOLLAR IN THE DJIA, both people would still be very wealthy.

#102 | Posted by jamesgelliott at 2018-02-06 03:11 PM

Snoofy would rather the government decide the percentage that the "market" would go up or down rather than it organicly reflect reality.

That being said, the DJIA, became divorced from reality when the government started pumping money into it a few years ago with something called Quantitative Easing. It was a form of trickle down economics.

#103 | Posted by jamesgelliott at 2018-02-06 04:01 PM

Up 825 today!
Thanks Obama!

#104 | Posted by Federalist at 2018-02-06 05:46 PM

The down market should put smiles on the faces of many of the wealth envy crowd here as the top 10% are now worth less [on paper]. Of course if any of you have IRAs/401s or pensions dependent on the market may feel a little differently.

#105 | Posted by MSgt at 2018-02-06 07:59 PM

So it is a random correction and in no way related to the release of memos implicating the opposing party of collusion with the FBI in the last election?

Short term memory loss is not a meme i rekkin.

#106 | Posted by mutant at 2018-02-07 10:06 AM

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