Going cash today

[bimmerfrk]

Originally Posted by 2000cs

Slow down; all major (and many other) firms have contingency plans, pandemic plans and work-from-home plans. Especially in NYC. We will see disruption if schools/subways are closed, but work will continue. In fact, there likely will be a huge Wall Street competitive advantage in being at work (regardless of work location) while others are scrambling to implement their plans.

Office workers can work remote. Can cops, firefighters, nurses, plumbers, building maint crews, power plant workers and so on?You think about white collar employees. And how much work you going to get done when your kids are home running around the house.

Would not be surprised to be in Milan's situation in a week or so.

[2000cs]

Originally Posted by bimmerfrk

Office workers can work remote. Can cops, firefighters, nurses, plumbers, building maint crews, power plant workers and so on?You think about white collar employees. And how much work you going to get done when your kids are home running around the house.

Would not be surprised to be in Milan's situation in a week or so.

I am an executive at an electric utility. We will keep the lights on. We have plans and are already implementing (have been for over two weeks now). Our vendors, from materials to law firms, are on this too. The market operators (PJM, ERCOT, MISO, etc) are on this too.

White collar (office workers) can work remotely. System Operations, Market Operations, powerplant workers and line workers must be able to work. So we have taken extra measures to ensure they are all safe and there is adequate coverage.

Our industry also covers each other; if someone had a people shortage we and others would come to their aid to ensure continuing operations and grid stability.

Have a little confidence that the plans are good enough and the decision makers well informed enough to get this mostly right, regardless of industry, at least in the critical industries. Perhaps we will have a diet soda shortage, but it won’t be for lack of banking, financial transactions including markets/trading, electricity, natural gas, gasoline, water, etc.

Rather than worry, imagine yourself in charge of the hospital, utility, subway, school, whatever and create a plan. Then realize that has already been done, by teams, and in many cases simulated or tested.

We will be fine. Disrupted, but fine.

[RickFLM4]

I think there will always be emergency service workers on staff. This isn’t a situation where the entire population is actually sick and can’t work.

However, curtailment of delivery services and warehouse workers (Amazon / Walmart / super markets) would be very disruptive in light of our growing reliance on e-commerce and delivery. I expect those businesses are doing well right now. Similarly, disruptions in broadband and / or wireless would likely be disruptive. Hopefully, we don’t get to any of that. I think today is mostly about Saudi Arabia and Russia not playing nice.

[Tyga11]

Market down 10% today. I really hope folks aren't panic selling when they are long...be strong folks.

[WhiskyPat12]

Originally Posted by Tyga11

Market down 10% today. I really hope folks aren't panic selling when they are long...be strong folks.

Dow is likely going to end the day almost 10% above opening, about 2000 pts

[RickFLM4]

Originally Posted by WhiskyPat12

Dow is likely going to end the day almost 10% above opening, about 2000 pts

Which is around where it started Thursday morning.

[TboneS54]

Too bad if you pulled out yesterday lol

'course it could go down again 10% if Trump starts sneezing.

[Rmtt]

Originally Posted by Tyga11

Market down 10% today. I really hope folks aren't panic selling when they are long...be strong folks.

I started buying this week. But as I said in another thread, I look at it as I'm getting a lot more quantity of what I've been buying all along since the price is much cheaper. Even if it drops a little more....I won't be touching it for 20+ years or so I hope!

So in the end, I can't see not benefiting from it.

As for my other stuff, I'm seriously looking at Boeing as they are 50% down. Plus a couple other things....but I want to see what dividends are doing first. But those will be held long term as well.

[RickFLM4]

I bought a little bit yesterday for long term holding too. I’ll take some RCL if it goes down a little more even without them sailing for a month. Interested in leaders that can weather the storm not little up and comers with weak balance sheets.

[AlpineWhite_SJ]

Still going with the plan - leave retirement in the market, heavier cash position to fund some home projects and time off from working. Will begin to look for deals with a portion of it once I have a better picture of budget needed to be on the safe side until working again. Getting taxes out of the way helped too.

[MisterF80M3]

I haven't started buying more stocks yet. I think there is still more bloodbath. Feels like a bull trap right now.

Will most likely buy RCL or CCL. An airline, most likely DAL. And an oil stock, XOM.

[Bimmer Nerd]

Originally Posted by MisterF80M3

I haven't started buying more stocks yet. I think there is still more bloodbath. Feels like a bull trap right now.

Will most likely buy RCL or CCL. An airline, most likely DAL. And an oil stock, XOM.

Solid choices. Planning on RCL/CCL as well. What's your take on FANG & NCLH?

[WhiskyPat12]

Dow opens down 2250 at opening and trading halted

[Hapbob]

Was thinking of a M2. But stock market says no you aren’t. Likely to take years to recover my loss so far. Never thought would see stock prices cut in half.
But I was wrong. Crazy
Hap

[AlpineWhite_SJ]

Originally Posted by Hapbob

Was thinking of a M2. But stock market says no you aren’t. Likely to take years to recover my loss so far. Never thought would see stock prices cut in half.
But I was wrong. Crazy
Hap

Yep, and who knows how much further it will go. Uncharted territory the next few months. I feel for those closer to retirement who were still in equities and for those who already retired like my parents who aren’t earning much of anything interest wise.

[someguywithanm3]

The OP timed it really well.

I got out way earlier (didn't time it as well), but I'm glad I did.

[ASAP]

Originally Posted by Hapbob

Was thinking of a M2. But stock market says no you aren’t. Likely to take years to recover my loss so far. Never thought would see stock prices cut in half.
But I was wrong. Crazy
Hap

If you want a new M2 Comp... you can get one hell of a deal right now...

[Run Silent]

Originally Posted by Rmtt

I started buying this week. But as I said in another thread, I look at it as I'm getting a lot more quantity of what I've been buying all along since the price is much cheaper. Even if it drops a little more....I won't be touching it for 20+ years or so I hope!

So in the end, I can't see not benefiting from it.

As for my other stuff, I'm seriously looking at Boeing as they are 50% down. Plus a couple other things....but I want to see what dividends are doing first. But those will be held long term as well.

Yup - although ETF's are probably still a better plan. Over the last 2 weeks, I've purchased right at $70K worth of additional ETF's, mostly when the DOW was between 20,500 and 23,600. As such, some of these purchases are in the negative right now, since the bottom hasn't been reached yet most likely. Regardless, I am in a strong position to make some solid returns when it does come back.

Primary purchases were QQQ, DIA, VOO, and VOOG.

[Rmtt]

Originally Posted by Run Silent

Yup - although ETF's are probably still a better plan. Over the last 2 weeks, I've purchased right at $70K worth of additional ETF's, mostly when the DOW was between 20,500 and 23,600. As such, some of these purchases are in the negative right now, since the bottom hasn't been reached yet most likely. Regardless, I am in a strong position to make some solid returns when it does come back.

Primary purchases were QQQ, DIA, VOO, and VOOG.

Nice.....ETF's have been where I have been buying as well. VOOG and VOO primarily.

But I set a limit on myself of $25K. I'm no expert by any means, but I keep an emergency fund that would last almost 2 years and figured it could be pared down a little.

I still have to get past the "hoarding cash" disorder that I have....although I have gotten much better. I'm overly cautious about everything!!

[Run Silent]

Originally Posted by Rmtt

Nice.....ETF's have been where I have been buying as well. VOOG and VOO primarily.

But I set a limit on myself of $25K. I'm no expert by any means, but I keep an emergency fund that would last almost 2 years and figured it could be pared down a little.

I still have to get past the "hoarding cash" disorder that I have....although I have gotten much better. I'm overly cautious about everything!!

Yup - the hording cash mentality - aka My Wife when I met her. She is much better, but when we first met, she had about 2 years gross salary sitting in her checking account at 0% interest. I was speechless. lol.

[RickFLM4]

Originally Posted by Run Silent

Yup - the hording cash mentality - aka My Wife when I met her. She is much better, but when we first met, she had about 2 years gross salary sitting in her checking account at 0% interest. I was speechless. lol.

Well it could have been worse... could have been on credit cards instead of in the bank!

[Run Silent]

Originally Posted by RickFLM4

Well it could have been worse... could have been on credit cards instead of in the bank!

Yeah, luckily, not believing in debt was one of my main requirements when it came to getting serious with anyone. She is amazing with money.