Actually did something right with the stock market

BlueFox

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Last Febuary I called my broker since I wanted out of the stock market. This was because it was obvious to me that the virus in China was going to be a disaster here, and everywhere. We sold everything that was non taxable, and moved other stocks into safer stocks. So today the broker called me, and said I was one of the few people who got this right. While the market is down a lot, my remaining stocks are only down 2%. Personally I would have rathered payed tax on a profit versus losing 2%, but it will recover. It took me 70 years, but I finally did something right in the stock market. :)

While for me this has worked out so far, I realize others have lost their lives from this mess. My condolences to everyone affected by Covid-19, and hope a vaccine is soon available.
 
Last Febuary I called my broker since I wanted out of the stock market. This was because it was obvious to me that the virus in China was going to be a disaster here, and everywhere. We sold everything that was non taxable, and moved other stocks into safer stocks. So today the broker called me, and said I was one of the few people who got this right. While the market is down a lot, my remaining stocks are only down 2%. Personally I would have rathered payed tax on a profit versus losing 2%, but it will recover. It took me 70 years, but I finally did something right in the stock market. :)

While for me this has worked out so far, I realize others have lost their lives from this mess. My condolences to everyone affected by Covid-19, and hope a vaccine is soon available.

Good job! Would have been better if you short or buy put options with everything you got. It’s easy to say now , but in February it was on a trajectory to the moon in an election year. Most people were licking their chops for 2020.
 
Good luck with your decision.
I remain fully invested.
Even picked up some extra shares of ARWR during the dip.
 
Academic studies have consistently shown that "TIME" in the market beats "TIMING" the market. Time will tell if your strategy really paid off. Good luck!
 
During this administration the markets have really been on a roller coaster. I am not in individual stocks but more of a 401k plan. I told myself last year if I recoop my money I would move to a safe fund until after election. So I did just that, keep in mind I want to retire in a couple years so wouldn't have time to recoop if a large loss like now. I was really wondering if I had made the right decision because I missed the recent market sore but after this year's drop I was glad I did it that way.

The market will recover and those with time should end up in good shape.
 
Academic studies have consistently shown that "TIME" in the market beats "TIMING" the market. Time will tell if your strategy really paid off. Good luck!

True statement, I rode the market from 10,000 to 5000 back in 2009 and then back to 29000. This time around I’m zero worried. Time and age is wisdom.
 
Academic studies have consistently shown that "TIME" in the market beats "TIMING" the market. Time will tell if your strategy really paid off. Good luck!

True statement, I rode the market from 10,000 to 5000 back in 2009 and then back to 29000. This time around I’m zero worried. Time and age is wisdom.
 
The problem with TIMING the market is that you need to be right TWICE... when to get out, and, more importantly, when to get back in. The latter is harder than the former.

Many "speculators" who got out before the Feb sell-off are now scratching their heads wondering when to get back in!

Those of us who are long term "buy & holders" don't agonize over the normal shorter term volatility (or bear markets & recessions) that happen every 5-6 years.
 
Also, if you don't sell you don't have to worry about taxable events.
Last year I sold a huge portion of my biotechs to put into another biotech stock.
The enormous capitol gains tax hit I had to pay this year for selling them was terrible!!
 
For those worried about the current recession, here's an interesting graphic illustrating what typically happens after!


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