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Thread: Boghies Account Talk

  1. #1177

    Join Date
    Mar 2006
    Location
    Raleigh, NC
    Posts
    3,416

    Default Re: This Does NOT feel like a Normal Market

    A not so nice bounce this morning. More of a spat.
    But, this is dumb money hour.....
    We shall see...

    However, early afternoon doesn't seem very sunny either. Yesterday might have been a dead cat bounce.
    Lookin' up at the 'G Fund'!!!

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  3. #1178

    Join Date
    Sep 2008
    Location
    Kentucky
    Posts
    5,260

    Default Re: This Does NOT feel like a Normal Market

    I honestly though we would get 2 days of POP. I guess yesterday was it.
    In Dog Beers I've only had two.

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  5. #1179

    Default Re: This Does NOT feel like a Normal Market

    Maybe we get a turn around Thursday afternoon? Maybe put in a huge tail on this day...wishful thinking


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  7. #1180

    Join Date
    Mar 2006
    Location
    Raleigh, NC
    Posts
    3,416

    Default Re: This Does NOT feel like a Normal Market

    Quote Originally Posted by LTJPFED View Post
    Maybe we get a turn around Thursday afternoon? Maybe put in a huge tail on this day...wishful thinking
    Kinda doubt it, but even if the EoD does pop up this is not a market for wishful thinking

    The only reason we have dumped so far is Federal policy - and, State policy where appropriate. This is the result of politics. In the end, I don't even know if things will change if the politics change. Once sucker punched we tend to be very careful not to get sucker punched again. As an example, why would people invest in an oil pipeline? We hope investment will happen if the opportunity arises. We need the fuel. But, less than two years ago we elected someone who was yammering about shutting down pipeline construction, reestablishing regulations, and locking up oil company executives. Promises made are promises kept. It is the gift that keeps on giving. We wanted this. We wanted this managed by the executive order of one man. Elections have consequences. Now, if I had the ability to stroke a check with a lot of trailing zeros I would think about this now in 'Merica. If I had $200 bucks to invest in Chevron I don't know if I would.

    Any of you want to invest in Keystone Pipeline v2024?

    I'm going to nope it.

    So, if folks think like me you ain't going to get any more fuel.

    GLHF
    Lookin' up at the 'G Fund'!!!

  8.  
  9. #1181

    Join Date
    Mar 2006
    Location
    Raleigh, NC
    Posts
    3,416

    Thumbs down Re: This Does NOT feel like a Normal Market

    Current Allocation (as of COB Monday, July 14, 2022):

    Fund Allocation Banal Thoughts
    G 60% Let's lose money more slowly
    F 10% Rode this pig, but a big rate hike is coming
    C 10% Nobody else wants to buy in, why should I
    S 10% Socialists hate small/medium sized businesses
    I 10% The EuroTrash look worse than we do

    Sciencey Stuff:
    Expected Annual Return: 6.00%
    Expected Risk: 4.78%
    Best Year: 16.92%
    Worst Year: -9.08%
    Biggest Dump: -13.38%

    More sciencey Stuff - Current Drawdown:
    Fund Drawdown Start Date
    F -14.61% July 2020
    C -21.11% January 2022
    S -33.82% November 2021
    I -25.61 September 2021

    I am gaining confidence that the steady hand of our gubmint will guide us toward an unforced error.

    The nice thing is that for those that did not just eat all of the losses the predatory recovery will be wonderful. When the pie gets smaller I still intend to eat well.
    Lookin' up at the 'G Fund'!!!

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  11. #1182

    Join Date
    Aug 2011
    Location
    Mississippi
    Posts
    904

    Default Re: This Does NOT feel like a Normal Market

    Best to you. I don't even want the anxiety of having just a little in right now. It's sort of been nice not worrying (and I know a better day lies ahead eventually).
    Scott Harrison
    Senatobia, MS

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  13. #1183

    Default Re: This Does NOT feel like a Normal Market

    Quote Originally Posted by rangerray View Post
    Best to you. I don't even want the anxiety of having just a little in right now. It's sort of been nice not worrying (and I know a better day lies ahead eventually).
    Hardest part is blocking out the noise and thinking there is an opportunity one way or another. Sitting on hands too but it's not always easy.

  14.  
  15. #1184

    Join Date
    Apr 2008
    Location
    Cleveland, Ohio
    Posts
    12,148

    Default Re: Boghies Account Talk

    I'm 100% "S" fund. I'm way past anxiety. Yep, Boghies November 2021 numbers for "S" fund are spot on. Not living the dream.
    May the force be with us.

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  17. #1185

    Join Date
    Mar 2006
    Location
    Raleigh, NC
    Posts
    3,416

    Exclamation Heard it on the Radio, Seen it on the InterWebs

    Ok, so Intuit's mortgage grinder business is selling home equity mortgages as:
    1. You can use your home equity as an ATM!!!
    2. and, you can use a home equity loan as a cash reserve!!!

    Sure, that's the ticket.

    Where have we seen that before

    For those that are a bit too young to have felt the pain of 2007 - 2009 here is reality:
    1. You LIVE in your house, it is not really a cash store
    2. and, the loan companies were 'calling in' home equity loans back in 2008/9.

    When a loan - or a credit card - company 'calls' it's loan you have to pay it back in full, refinance it, or go on some sort of payback schedule. So, that car you bought in 2019 using the HELOC loan is now due in full. And, you now have no 'cash' buffer.

    Don't be dumb.
    Lookin' up at the 'G Fund'!!!

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  19. #1186

    Default Re: Heard it on the Radio, Seen it on the InterWebs

    I established a Home Equity Line Of Credit decades ago simply to establish a resource that if I needed cash quickly for emergencies or a large purchase, it was available to me just by writing a check. I think I've used it twice (for vehicle purchases) in all that time.
    At some point I really didn't "need" it any longer because my other accounts and funds were growing and were just as accessible, but I've hung onto it anyway. It doesn't cost me anything if I don't use it. It just sits there.
    What I would like to point out is that, it's basically a lien against your home, and when you go to sell (which I am planning to do in a few years), the HEL account needs to be closed and gone. You can't sell and move on with that in existence.
    If you suck at managing money, then an HEL is probably not for you.

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  21. #1187

    Join Date
    Mar 2006
    Location
    Raleigh, NC
    Posts
    3,416

    Default Re: Heard it on the Radio, Seen it on the InterWebs

    I have direct experience with a credit card, but only heard about HELOCs being called from the media and a friend. Both happened during the depths of 2008/9.

    I had a credit card with a 7% interest rate back then - a VERY good interest rate at the time and not bad even now. My FICO/Credit rating was also very good and I had never missed a payment. Then in a billing statement the minimum payment was the full amount. Yowser. I was certain it was a mistake. I mean, credit card companies spend a lot of money finding suckers like me that have a balance. So I called. Dude on the phone just told me repeatedly that 'It was a corporate decision.'. They offered a payment plan with about twice the interest rate. I told them in no uncertain terms that I would close the card myself if they did not reverse this stupid decision. They didn't, I did. It was one of the dumbest things I have ever seen a business do. And, now that card company no longer exists.

    A friend of mine was using his HELOC as his emergency fund. He had very little or nothing on it, but it was 'called' and canceled by the provider. He had months to act, but sluffed it off.

    If a provider informs you that THEY will cancel the credit line than make sure YOU cancel it first and on your terms - and do so in writing. If a credit provider cancels credit it looks bad on your FICO/Credit score. If you cancel it had no affect. Plus, you don't want them auto-dumping you into a high-rate payback plan. Do things yourself, you will have at least a month to do so and I think you actually get three months.
    Lookin' up at the 'G Fund'!!!

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  23. #1188

    Default Re: Heard it on the Radio, Seen it on the InterWebs

    Ahhh, I see.
    My account has been transferred or sold once or twice to another financial provider, but never just "Cancelled" like that. That sucks.
    Last edited by Epic; 08-01-2022 at 12:07 PM.


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