Tiberius Posted December 25, 2018 Posted December 25, 2018 Better keep waiting, Trump isn't done yet. Quote President Trump has weighed dismissing Treasury Secretary Steven Mnuchin, a source familiar with the president's thinking told Bloomberg News. Another source told Bloomberg said that Mnuchin's future at the helm of the Treasury Department depends on whether the market continues to drop. https://thehill.com/policy/finance/422807-trump-has-weighed-dismissing-mnuchin-bloomberg
Cinga Posted December 25, 2018 Posted December 25, 2018 (edited) 6 hours ago, BigMcD said: Where are Trump’s tweets apologizing for the market? He sure loved to take credit when it was on the way up. That’s how narcissistic liars work! You're correct of course, about the narcissist part. I guess if PBO can blame Bush throughout his presidency, Trump can now blame Obama right? Edited December 25, 2018 by Cinga
Doc Brown Posted December 25, 2018 Posted December 25, 2018 On 12/23/2018 at 4:47 PM, Kemp said: Trump used to pat himself on the back when the stock market was going up. I know that everyone is shocked that he is not taking credit for the YUGE downturn. Worst December since the Great Depression. On another shocking economic front, the tax cut for the corporations and the rich has resulted in stock buy-backs rather than the cash trickling down. Who could have seen that coming? It's getting close to a good time to buy. Record unemployment, high consumer confidence, and a 3% GDP growth rate combined with a riverboat gambler constantly sending mixed messages in the White House could be a very good combination.
Kemp Posted December 25, 2018 Posted December 25, 2018 On 12/23/2018 at 6:25 PM, sherpa said: So what happens to the money from stock buy backs? TPS already answered it, so I will pass. 7 hours ago, Doc Brown said: It's getting close to a good time to buy. Record unemployment, high consumer confidence, and a 3% GDP growth rate combined with a riverboat gambler constantly sending mixed messages in the White House could be a very good combination. It might be a good time to buy. It might not. No one knows, including you. If it was possible to ascertain the top or bottom of the market, it would be easy for all of us to become rich. 1
DC Tom Posted December 25, 2018 Posted December 25, 2018 3 hours ago, Kemp said: TPS already answered it, so I will pass. It might be a good time to buy. It might not. No one knows, including you. If it was possible to ascertain the top or bottom of the market, it would be easy for all of us to become rich. I actually have the perfect market timing system. My mother always, without fail, manages to buy at market tops and sell at bottoms. She's still thinking "My stocks will bounce back." We haven't bottomed yet. When she says "My stock isn't doing anything, I have to sell it," then we've bottomed.
meazza Posted December 25, 2018 Posted December 25, 2018 13 minutes ago, DC Tom said: I actually have the perfect market timing system. My mother always, without fail, manages to buy at market tops and sell at bottoms. She's still thinking "My stocks will bounce back." We haven't bottomed yet. When she says "My stock isn't doing anything, I have to sell it," then we've bottomed. Please keep us posted. 1
TPS Posted December 25, 2018 Posted December 25, 2018 1 hour ago, DC Tom said: I actually have the perfect market timing system. My mother always, without fail, manages to buy at market tops and sell at bottoms. She's still thinking "My stocks will bounce back." We haven't bottomed yet. When she says "My stock isn't doing anything, I have to sell it," then we've bottomed. My indicator that the end of the Housing bubble was nigh, as an investment, my late mother-in-law bought a Florida condo that hadn’t been built yet. It was early 2007...
DC Tom Posted December 25, 2018 Posted December 25, 2018 57 minutes ago, TPS said: My indicator that the end of the Housing bubble was nigh, as an investment, my late mother-in-law bought a Florida condo that hadn’t been built yet. It was early 2007... Mine was, between me working at Ginnie and my wife doing high-end real estate closings,. knowing all the crap IO neg-am mortgages that had been written starting in 2002 that would start foreclosing in 2007. It was rather amazing to have enough data to call that almost to the month. The 2009 bear market...I remember talking to my mother on Easter, and her telling me "Oh, I sold all my stock a month ago, it was just going down and my financial adviser told me I should sell it." Easter was April 12; the market bottomed on March 9. She, on the "advice" of her "financial adviser" (which might be a Tickle Me Elmo doll) sold almost exactly at the bottom of a historically bad market. And yes, I told her next time she wants to do that to call me, and I'll buy her shares at a premium above the market. Her Tickle Me Elmo doll advised her that would be illegal. 1
Chef Jim Posted December 26, 2018 Posted December 26, 2018 17 hours ago, DC Tom said: Mine was, between me working at Ginnie and my wife doing high-end real estate closings,. knowing all the crap IO neg-am mortgages that had been written starting in 2002 that would start foreclosing in 2007. It was rather amazing to have enough data to call that almost to the month. The 2009 bear market...I remember talking to my mother on Easter, and her telling me "Oh, I sold all my stock a month ago, it was just going down and my financial adviser told me I should sell it." Easter was April 12; the market bottomed on March 9. She, on the "advice" of her "financial adviser" (which might be a Tickle Me Elmo doll) sold almost exactly at the bottom of a historically bad market. And yes, I told her next time she wants to do that to call me, and I'll buy her shares at a premium above the market. Her Tickle Me Elmo doll advised her that would be illegal. Elmo would be right. The wash sale rule applies to family members too.
DC Tom Posted December 26, 2018 Posted December 26, 2018 26 minutes ago, Chef Jim said: Elmo would be right. The wash sale rule applies to family members too. A private purchase of stock between two individuals away from the market isn't a wash sale. And even if it were, a wash sale isn't illegal. It complicates the tax accounting...but complicated tax accounting isn't illegal.
Tiberius Posted December 26, 2018 Posted December 26, 2018 Quote according to the Wall Street Journal, his advisers (as ever, treating him like a toddler) are exploring whether the Federal Reserve chair might be able to convince Trump to stop publicly attacking him: “With a view toward giving Mr. Trump a clearer idea of Fed Chairman Jerome Powell’s work and focus, administration aides have discussed setting up a private meeting between the two men early in the new year … While Mr. Trump has singled out the Fed as the source of market turbulence, former senior economic officials have privately warned the White House that the president’s tweets and statements are making matters worse.”
Deranged Rhino Posted December 26, 2018 Posted December 26, 2018 The fed will continue to be a target.
DC Tom Posted December 26, 2018 Posted December 26, 2018 2 minutes ago, Deranged Rhino said: Hey...another hockey stick graph. Global Warming and Global Banking are related. WAKE UP SHEEPLE!!! 2
Kevbeau Posted December 26, 2018 Posted December 26, 2018 37 minutes ago, DC Tom said: Hey...another hockey stick graph. Global Warming and Global Banking are related. WAKE UP SHEEPLE!!! At least the scale is consistent on this one.
Q-baby! Posted December 26, 2018 Posted December 26, 2018 Can’t wait for Trump’s tweets taking credit for any rebound in the market! He’s the greatest ever!
TPS Posted December 26, 2018 Posted December 26, 2018 1 hour ago, Deranged Rhino said: Is this supposed to mean something?
DC Tom Posted December 26, 2018 Posted December 26, 2018 4 minutes ago, TPS said: Is this supposed to mean something? Yes. Just not what he thinks.
plenzmd1 Posted December 26, 2018 Posted December 26, 2018 1 hour ago, Deranged Rhino said: that's some weak sauce there DR...you know that
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