Sold BAC.
Bought VOD, VZ, T, TEF, CCI
Bought VOD, VZ, T, TEF, CCI
Investing Strategies. What is your move?
- Thread starter PimTac
- Start date
Maybe there were a few "lessons learned" that can be used the next time the world goes into chaos mode. But there could be many more future events that could make the impacts of the pandemic look like a cake walk. But if that ever happens, money won't be important anymore anyway.I have mentioned this before and was proposing it. The Fed should have been raising rates albeit slowly when they had the chance years ago. The fears of wrecking the economy would not have transpired had they raised 25 basis points twice or three times a year unit they got to around 2%. This would have been right before thehit. We stayed at zero for way too long.
The Fed should be more proactive rather than reactive. Being reactive put them behind the curve.
Ridiculous. We are the 4th or 5th largest economy in the world, by ourselves. Capitalism abounds here.
You wanna get filthy rich? Are you willing to work? Come to CA. That's my experience.
Look up Peter Zeihan's latest You Tube on California. His picture isn't so rosy.
It really doesn't matter how big your economy is. I am an economy of 1.
According to Forbes, the average salary in CA is $73K and the average salary in SC is $50K. Doesn't sound like most people are getting rich there either given the COL. I will tell you what my dad taught me - if your really good at what you do, you will make a lot of money doing it anywhere its valued. Possibly you would have gotten rich in a bunch of other states as well. Maybe it was you - not California?
Either way, Investing in an asset somewhere and working there are two different things. If I own rental property and can't evict for non payment - which is completely predictable by state - then that is going to be a problem. So they failed to understand the predictable risks.
CA and WA do ok despite freeloading and crooks at all levels. They could be much better.
I've invested in assets here. The return is well into the 7 figures.
Excellent news. I own some tech stocks so presumably I own California assets as well - albeit I am not doing as well as you.
However I don't own assets that I rent to people that even in normal times it would take months to evict. If I did choose to do that - which might be worth the risk - I wouldn't ask for anyone's sympathy when it backfired.
Like 20 years ago I bought a whole bunch of worldcom stock at $0.61. The next day it bumped to a buck or so and I cashed out. I think it finally went into the $0.20 's before they filed for bankruptcy It was a stupid move. I knew it was a stupid move. Had I lost all of it I would not have expected any sympathy. I was young. I wouldn't do it now. Same thing.
I wasn't talking about stock in CA companies. I was talking about properties. The stock is on a different level altogether.
Apologies to you, I just struggle with people's comments about my home state. CA has taken this broken man, picked me up, dusted me off and gave me a life. I will never forget the opportunity here, even for someone like me.
JHZR2
Staff member
You have an “I deserve” mentality.
What happens to your business? You learn to charge less, get paid less, you adapt to the means and ability of your clients. And if you refuse and your client base dries up, then you go out of business. This is supposed to balance naturally. You don’t really get to set prices and then complain when someone won’t pay. That model has created its own issues.
And honestly, this isn’t an attack on you. You just said what happens to your business…
The flip side of your question is an intriguing one. What happens when the “responsible” folks who saved for six months of expenses run out. I think that’s what nobody wanted to find out, thus why they printed money like crazy….
1932 Depression ... but it would be far worse in today's society by the way people react to chaos.
JHZR2
Staff member
Agree. I was thinking along the exact same lines.
I don't have many stocks, the ones I have had for a long while are Raytheon, Suncor, Taseko... medium length of time Daimler and Paccar...short length of time Arbor metals.
What? Not just MY business...ALL businesses. I was personalize it in an attempt to get the point across that this would effect real people but the damage would've been generalized and widespread. The problem wouldn't been my prices. The problem would be customers lost their jobs and have ZERO money to pay anyone.
It's a strange world when my desire to keep my livelihood as well as the livelihoods of 25 other people I employ as well as the livelihoods of tens of millions of Americans intact gets labeled as having an "I deserve" mentality.
Hey, you know what also happens in a depression? Tax revenue drops off a cliff. How do you think the government would fund its budget? That's right, it would sell debt. We'd likely end up in the same place as far as debt except it would've also been widespread unemployment and significant pain for most Americans for years. That's a sweet plan!
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SMH...
JHZR2
Staff member
Again, I used “you” because you said your business.
The problem would be your prices. People with limited money would prioritize. Probably roughly in the order of lodging, food, utilities, transportation, health.
Not everyone will be laid off or have nothing. That has never been the case. In 1933, unemployment was 25%. That meant that the other roughly 75% of people would still have work. Some folks would do something to make ends meet. Even in 2020, some folks sat, some folks worked. Not everyone had the same situation. So all the same, you want to keep your livelihood, you’re going to either work with folks of lesser means and issues paying, or they will do without and you’ll just make less. Very simple.
Your idea of what your livelihood is worth in that situation is potentially different than others’ view on it or reality. You might need to take a 50% pay cut. Or put some of your staff at fewer hours, or take a loan. This is the nature of business, small business especially. Many fail due to different situations.
The government sure would take on debt to continue operations. Heck, it does that every day normally. That’s not the issue per se. The issue is printing trillions in handouts, loans that were never expected to be repaid, money supply nobody could chase, and indebtedness that you or I or our kids and kids kids will need to pay off but will never be able to. Not ok.
And frankly, that’s really what this is all about. Not your business or you. It’s the endless money that isn’t real, sucking things ultimately dry, and for what end? And to what next perturbation that has the potential to be worse than the last. You think you deserve $x/yr compensation and to keep your business. So you also deserve to pay off $y that is your share of the National debt as a result. Will you? Neither will anyone else. So then what? Nobody knows what will happen when debt goes sky high. Devalue the dollar? Do something else? What economic waves and issues will happen? That’s the point.
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Also, the survivability of a lot of businesses during the pandemic was due to how they reacted and changed operations. Depending on the actual business determined how much room they had to adapt and try to continue as normal as possible. And a lot of people didn't even want to work in the first part of the pandemic not knowing if they'd possibly end up dead or not until things were better known how to handle the changes needed to try and continue operations. How each business handled the impacts and how some quickly adapted to stay in business is the reason fewer failed than thought. Not all could adapt, or could afford to adapt.
Of course, not all businesses survived the pandemic, it all depended on many factors. The impact of the pandemic will last a long time, It's still being felt now in other ways with on going supply chain "catch-up" and the related infation when society "turned the corner" and wanted to buy everything in existence which turned on the supply vs demand inflation monster. And greedy businesses "riding the infation train" as long as people will put up with that nonsense doesn't help matters either.
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www.reuters.com
Of course, not all businesses survived the pandemic, it all depended on many factors. The impact of the pandemic will last a long time, It's still being felt now in other ways with on going supply chain "catch-up" and the related infation when society "turned the corner" and wanted to buy everything in existence which turned on the supply vs demand inflation monster. And greedy businesses "riding the infation train" as long as people will put up with that nonsense doesn't help matters either.
Pandemic destroyed fewer U.S. businesses than feared, Fed study shows
Fewer than 200,000 businesses in the United States may have failed during the first year of the COVID-19 pandemic, a lighter toll than initially feared and one that may have had relatively little impact on unemployment, according to Federal Reserve research.
www.reuters.com
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Tesla earnings after the market closes today. It will be interesting, even if good, one might look forward to the dramatic decrease of order back logs and substantial increase of unsold cars. Impossible to figure out the "market" but could be used as an excuse if the stock gets hit, even if the earnings good.
July unsold inventory at 2,700 units. Most being the more expensive S and X but also Model 3.
Global backlog down 17% first two weeks of June and 50% smaller at the end of June than it was end of May
US order backlog at 11 days end of June down from 27 days mid May.
May make markets feel the incentives and Tesla price cuts affect on their sales is waning.
BTW- this is not a Tesla bash, talking investment and the other side of the coin for any company when earnings come out, then people scratch their head on why a particular stock did not react like they thought.
Tesla coverage is a media darling, media knows it and creates interest and advertising. The valuation is insane but I said many times, I dont fight markets, doesnt mean I buy into them either at a valuation like this for products already being sold by many companies.
I am eager to see by the end of the year what will come once competition arrives in the coming year and years. Not invested in this one and being this isnt a wildly held stock by institutions I think explains the wild swings. Stay tuned after the market!
July unsold inventory at 2,700 units. Most being the more expensive S and X but also Model 3.
Global backlog down 17% first two weeks of June and 50% smaller at the end of June than it was end of May
US order backlog at 11 days end of June down from 27 days mid May.
May make markets feel the incentives and Tesla price cuts affect on their sales is waning.
BTW- this is not a Tesla bash, talking investment and the other side of the coin for any company when earnings come out, then people scratch their head on why a particular stock did not react like they thought.
Tesla coverage is a media darling, media knows it and creates interest and advertising. The valuation is insane but I said many times, I dont fight markets, doesnt mean I buy into them either at a valuation like this for products already being sold by many companies.
I am eager to see by the end of the year what will come once competition arrives in the coming year and years. Not invested in this one and being this isnt a wildly held stock by institutions I think explains the wild swings. Stay tuned after the market!
Also, the survivability of a lot of businesses during the pandemic was due to how they reacted and changed operations. Depending on the actual business determined how much room they had to adapt and try to continue as normal as possible. And a lot of people didn't even want to work in the first part of the pandemic not knowing if they'd possibly end up dead or not until things were better known how to handle the changes needed to try and continue operations. How each business handled the impacts and how some quickly adapted to stay in business is the reason fewer failed than thought. Not all could adapt, or could afford to adapt.
Of course, not all businesses survived the pandemic, it all depended on many factors. The impact of the pandemic will last a long time, It's still being felt now in other ways with on going supply chain "catch-up" and the related infation when society "turned the corner" and wanted to buy everything in existence which turned on the supply vs demand inflation monster. And greedy businesses "riding the infation train" as long as people will put up with that nonsense doesn't help matters either.
Pandemic destroyed fewer U.S. businesses than feared, Fed study shows
Fewer than 200,000 businesses in the United States may have failed during the first year of the COVID-19 pandemic, a lighter toll than initially feared and one that may have had relatively little impact on unemployment, according to Federal Reserve research.
Gov picked the winners and losers.
Mom & pop ACE Hardware store forced to close….. Home Depot had 400 cars in the parking lot and people spending their stimulus cash.
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