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Post by HighCotton on Aug 22, 2023 11:22:16 GMT -5
Impending is what I’m hearing on many fronts! Not sure I agree with all the chatter but it has brought some interesting conversation lately. My first thought is the Proverb: “Trust in the Lord with all thine heart and lean not to thine own understanding!” But to be practical, I like Dave’s rebuttal: www.ramseysolutions.com/retirement/stock-market-crashAnd when it comes to one’s portfolio, Diversify! It’s good to focus on the metals, too! Platinum, Gold, Silver… And Stainless Steel, Blued Steel, even some alloys… Ruger, Remington, Winchester, S&W, etc…whatever suits yer fancy!🤠 |
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Post by steiny on Aug 22, 2023 12:34:23 GMT -5
Don't have debt.
Be diversified in other things of value besides stocks.
Be able to take care of yourself.
Big fan of Ramsey's ideas.
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Post by deadeer on Aug 22, 2023 13:01:55 GMT -5
Hearing this, and a big covid resurgence and possible pandemic shutdown looming. This is chatter going around my workplace.
That's one of the main reasons I like the transportation industry I'm in. Most everything depends on and is moved by trucks. Mechanics/maintenance isn't hindered much by anything.
As long as I can afford gas to get to work, we are good.
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Post by Woody Williams on Aug 22, 2023 15:16:30 GMT -5
Hearing this, and a big covid resurgence and possible pandemic shutdown looming. This is chatter going around my workplace. That's one of the main reasons I like the transportation industry I'm in. Most everything depends on and is moved by trucks. Mechanics/maintenance isn't hindered much by anything. As long as I can afford gas to get to work, we are good. Ballot harvesting on the horizon |
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Post by greyhair on Aug 22, 2023 18:21:52 GMT -5
The same old advice is still good.
Diversify
Be patient
Learn to do your own research
Dont invest money you cant afford to lose
Dont panic sell when there is a big drop
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Post by greyhair on Aug 22, 2023 18:23:26 GMT -5
Barney Fife once said " I'll tell you the secret Andy. Buy low, sell high"
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Post by greyhair on Aug 22, 2023 18:23:47 GMT -5
Barney Fife once said " I'll tell you the secret Andy. Buy low, sell high"
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Post by beermaker on Aug 22, 2023 18:26:09 GMT -5
I don't pay as much attention to the stock market as I probably should. But, I do pay absolute attention to real estate and construction.
New and existing home sales are down. I communicate daily with the largest home builders in this part of the state. As of yesterday, new home showings are down over 50% from this time last year.
Families, mine included, aren't going to sell (try to) their current homes and buy something else at 2-3+% interest. Our current rate is 2.78%. My good friend in the mortgage business says that, assuming perfect credit and 20% cash down, 30 year rates start at 7%. Throw one wrench in that equation and start at 8%. So, new home sales are being limited to cash buyers, relocates, and those buying out of necessity. Death, divorce, etc. Why are so many yuppie apartment building being built? Because young folks are making good money, but don't have the cash to put down nor the credit history to purchase anything desirable.
In my current job, exterior improvements, business is rapidly declining. We did really well with folks who were refinancing, taking equity (cash) out of their mortgage, and investing back into their respective property. NO ONE is refinancing right now unless out of necessity.
I think the "worst to come" for real estate and construction is going to happen very soon.
By the way, has anyone else noticed that gas is north of $4 again? Sadly, I rarely pay attention to fuel prices. I have a company truck and my wife is very diligent about keeping hers fueled up.
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Post by jtkelly on Aug 22, 2023 19:01:45 GMT -5
Barney Fife once said " I'll tell you the secret Andy. Buy low, sell high" Barney is right. Nailed it. |
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Post by jtkelly on Aug 22, 2023 19:19:20 GMT -5
Barney Fife once said " I'll tell you the secret Andy. Buy low, sell high" Barney is right. Nailed it. I've been through a couple of "crashes" Been through the Carter years and "Your cash is trash, ain''t worth diddly." But you could buy an acre of un cut heavily forested "hunting ground" that was the Miami Dolphins training camp here in Indiana for $400 / acre or less and it took for ever to sell it. Warren Buffet has been through more crashes than I have, BRK.B. I bet my "safe" money with him. He said when he dies his wife gets a trust invested in an S&P index fund. I'm pretty good with that and a NASDAQ index fund. Metals? I pile up lead every time I take junk to the junk buyer. Didn't cost me anything and you can trade it easier than gold or silver or you can just use it and make it worth even more. If the crash comes what else have you got to do? Might as well pour bullets you can use or sell. Property? They aren't make any more land. But they sure can tax you out of it. Steal it from you for development or burn it. Buy land but buy what you would want any way. Plan a way to use it to your own benefit. Don't have to be timber but a lot of expensive timber don't hurt anything. If it is a pile of flooded scrub Sycamore, not worth anything, clear that trash trees and sell them for mulch, firewood, or pallets. Replant cypress, white oak, Christmas trees. They all have good value, grow pretty quick and you can get cash for them. Have a plan for it before you buy it. If you can't come up with a plan for it at least in your head, don't buy it. |
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Post by freedomhunter on Aug 22, 2023 19:26:05 GMT -5
It is a good time to put your guard up and maybe make some changes. I SMH at guys heavy in the market that trust in it idk about that. Most my clients have money in dirt right now
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