Author Topic: Buying Low - Who else can not resist this correction?  (Read 17291 times)

h2ogal

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Buying Low - Who else can not resist this correction?
« on: August 24, 2015, 12:21:28 PM »
So, unless you really need a workout, don't waste your energy on the facepunches, I already know Im not supposed to try to "Time the Market"...

BUT, I had a little too much cash in the allocation anyways, so I did some re-balancing this week.  Bought about 10K of Total Market Index fund and 2k of International.

Who else is feeling the urge to buy right now?

DoubleDown

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Re: Buying Low - Who else can not resist this correction?
« Reply #1 on: August 24, 2015, 12:35:12 PM »
"I know I shouldn't try to time the market BUT..."

Haha.

ozzy

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Re: Buying Low - Who else can not resist this correction?
« Reply #2 on: August 24, 2015, 12:39:25 PM »
Yup, me too. I bought some small-cap (IJR) and mid-cap (IJH) near the bottom today and they're already up over 30% in just a few hours! Unreal!  Stocks are on sale!!

Great buying opportunity for the long term buy-and-hold investor.

I'm a red panda

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Re: Buying Low - Who else can not resist this correction?
« Reply #3 on: August 24, 2015, 12:40:14 PM »
Well, I don't know if this is the low or not.  So no, I didn't put in a new order.

So I'm sticking to my plan of buying on Fridays.  Maybe this Friday it will have gone up again; but it might have gone down even more.


The only exception is for an individual stock I have my eye on for other reasons than to hold long term. If it dips below 40, then we are buying.

Helvegen

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Re: Buying Low - Who else can not resist this correction?
« Reply #4 on: August 24, 2015, 12:52:20 PM »
I'm not planning on changing course right now, just investing biweekly on the usual schedule. I don't have any real spare change to blow on the market with until October. The price of blowing a good chunk of my savings on paying off my student loans in June. Is what it is.

geekette

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Re: Buying Low - Who else can not resist this correction?
« Reply #5 on: August 24, 2015, 01:08:03 PM »
We're post fire, so this drop doesn't fill me with glee.  However, we're doing a Roth conversion to create some income to avoid Medicaid territory. So there's that.

ysette9

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Re: Buying Low - Who else can not resist this correction?
« Reply #6 on: August 24, 2015, 01:11:10 PM »
We got a small chunk of extra cash last week and after a discussion that bordered very closely on a "timing the market" decision, ended up sticking it into VTIAX. Then we took a step back and realized that putting money into VTIAX is exactly what we do normally anyway since that is what our current asset allocation strategy is dictating. haha

h2ogal

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Re: Buying Low - Who else can not resist this correction?
« Reply #7 on: August 24, 2015, 01:15:50 PM »
Hah!   

The correction just makes you look really hard at your cash that you are otherwise too lazy to bother with!

Retire-Canada

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Re: Buying Low - Who else can not resist this correction?
« Reply #8 on: August 24, 2015, 01:17:18 PM »

Who else is feeling the urge to buy right now?

Yup. Bought some ETFs this AM during the worst of the dip.

I would have bought some any ways this month, but I made it happen a week earlier and I am putting off some expenses so I invested about double what I normally would have.

I'll be buying some more next month whether the market goes up or down. Having it go down is just some extra motivation to save a bit more than usual and put off spending that can wait.

Sailor Sam

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Re: Buying Low - Who else can not resist this correction?
« Reply #9 on: August 24, 2015, 01:18:48 PM »
Oh man, I want to. But I only have $1800 in easily available cash. Anything above that will take a couple days to transfer in from a money market account.
 

katthjul

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Re: Buying Low - Who else can not resist this correction?
« Reply #10 on: August 24, 2015, 01:36:30 PM »
I am currently re-balancing from bonds to stocks, but is going to take 3-4 days to complete. The decision was made because I recently changed the bond index funds in my portfolio; I did not know about the current state of the market. The best part is that I "found" an old CD that I had completely forgotten about, which changed my actual stocks/bonds allocation to 60/40 instead of 80/20.

ZiziPB

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Re: Buying Low - Who else can not resist this correction?
« Reply #11 on: August 24, 2015, 01:43:23 PM »
I am fully invested and don't have any spare cash at the moment but I did some tax loss harvesting today: put in an order to exchange one international fund for another in the taxable account.  My normal auto-investment days (401k and taxable) are not until next week.

h2ogal

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Re: Buying Low - Who else can not resist this correction?
« Reply #12 on: August 24, 2015, 01:46:08 PM »
Quote
The best part is that I "found" an old CD that I had completely forgotten about,

Hah!  H2oGuy better guard his tool shed....I may FIND an old diesel-powered thing-a-ma-jig to sell on Craigs List and convert to S+P if this keeps up!!

Gone Fishing

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Re: Buying Low - Who else can not resist this correction?
« Reply #13 on: August 24, 2015, 01:54:41 PM »
Mostly invested, but I did get a timely refund check that got thrown in along with some spare change scraped up from here and there. Probaly doesn't make much of a difference in the long run, but it is a little fun to get in on the action!

Tjat

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Re: Buying Low - Who else can not resist this correction?
« Reply #14 on: August 24, 2015, 02:06:40 PM »
This briefly occurred to me this morning, but I don't really have cash on hand as I invest most of my surplus each month. So that will continue.

neil

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Re: Buying Low - Who else can not resist this correction?
« Reply #15 on: August 24, 2015, 02:20:31 PM »
Yup, me too. I bought some small-cap (IJR) and mid-cap (IJH) near the bottom today and they're already up over 30% in just a few hours! Unreal!  Stocks are on sale!!

Great buying opportunity for the long term buy-and-hold investor.

I have IJH/IJR in my 401k (commission free trading, yay) and I saw this after the fact.  I have a hard time believing the index was actually down this far and glad to see us little guys can get in on arbitrage events on occasion.  Sadly, getting up at 6am regularly just to fiddle with early market stuff is generally not worth it for me.

thedayisbrave

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Re: Buying Low - Who else can not resist this correction?
« Reply #16 on: August 24, 2015, 02:21:14 PM »
Yep, bought some EM in my personal account (which seems to be a trend nowadays) and did a shit ton of TLH in Mom's account (yay!).  She just moved to Vanguard from an advisor and it was going to cost a pretty penny in capital gains taxes for her to get out of those expensive funds they had her in so it was a timely correction for her :) She kept saying how "scary" the correction was and I had to, well, correct her ;)

smiller257

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Re: Buying Low - Who else can not resist this correction?
« Reply #17 on: August 24, 2015, 02:35:35 PM »
Lots of people are freaking out. I'm retired and not freaking out, here's why: http://www.weretiredearly.com/Blog/2015/08/24/market-correction-dont-freak-out/

ozzy

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Re: Buying Low - Who else can not resist this correction?
« Reply #18 on: August 24, 2015, 02:45:18 PM »
Yup, me too. I bought some small-cap (IJR) and mid-cap (IJH) near the bottom today and they're already up over 30% in just a few hours! Unreal!  Stocks are on sale!!

Great buying opportunity for the long term buy-and-hold investor.

I have IJH/IJR in my 401k (commission free trading, yay) and I saw this after the fact.  I have a hard time believing the index was actually down this far and glad to see us little guys can get in on arbitrage events on occasion.  Sadly, getting up at 6am regularly just to fiddle with early market stuff is generally not worth it for me.


Yup, I was shocked too.  I placed market orders shortly after the open, and noticed my broker took a very long time to fill them (like 15min).  I believe there were temporary problems with the exchanges today. 

Then when I saw my IJR position up +35% at noon it was the fastest gain I've ever seen in my life!  It was up +31% as of close today!  Ye-ha!!

hodedofome

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Re: Buying Low - Who else can not resist this correction?
« Reply #19 on: August 24, 2015, 02:51:39 PM »
Yup, me too. I bought some small-cap (IJR) and mid-cap (IJH) near the bottom today and they're already up over 30% in just a few hours! Unreal!  Stocks are on sale!!

Great buying opportunity for the long term buy-and-hold investor.

Just insane, glad to know they fixed everything from the flash crash in 2010. Oh wait...

YoungStache

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Re: Buying Low - Who else can not resist this correction?
« Reply #20 on: August 24, 2015, 03:39:44 PM »
How come I can't see today's price on VTSAX? It is the same as friday's quote. Do mutual funds have another schedule?

BarkyardBQ

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Re: Buying Low - Who else can not resist this correction?
« Reply #21 on: August 24, 2015, 03:44:11 PM »
How come I can't see today's price on VTSAX? It is the same as friday's quote. Do mutual funds have another schedule?

Try again in 15 minutes. They update at 6pm EST.

hodedofome

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Re: Buying Low - Who else can not resist this correction?
« Reply #22 on: August 24, 2015, 03:45:38 PM »
How come I can't see today's price on VTSAX? It is the same as friday's quote. Do mutual funds have another schedule?

You can look at VTI which is down -4.02% today. I'd expect VTSAX to be the same.

radtek2112

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Re: Buying Low - Who else can not resist this correction?
« Reply #23 on: August 24, 2015, 03:51:32 PM »
Just bought $5000 of VTSAX....BOOM!  Although it is really not abnormal for me to throw extra cash in every few month, might just be better "timing" than usual (or not).

YoungStache

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Re: Buying Low - Who else can not resist this correction?
« Reply #24 on: August 24, 2015, 03:53:51 PM »
Would it be better for me to place an order now (when the market's closed), or wait until tomorrow?

BarkyardBQ

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Re: Buying Low - Who else can not resist this correction?
« Reply #25 on: August 24, 2015, 03:55:20 PM »
Would it be better for me to place an order now (when the market's closed), or wait until tomorrow?

Market is already closed, if you place an order now you will get tomorrows price.

YoungStache

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Re: Buying Low - Who else can not resist this correction?
« Reply #26 on: August 24, 2015, 03:56:39 PM »
So would it be better to wait? Like buy if tomorrow drops again, but hold off if it goes up.  But tomorrow could start lower right?

Mississippi Mudstache

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Re: Buying Low - Who else can not resist this correction?
« Reply #27 on: August 24, 2015, 03:57:33 PM »
I'm not a fan of market orders in general, but definitely not when the market is closed. The market can do some weird things during open and close. If you place a limit order overnight, you'll be fine.

BarkyardBQ

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Re: Buying Low - Who else can not resist this correction?
« Reply #28 on: August 24, 2015, 03:57:42 PM »
So would it be better to wait? Like buy if tomorrow drops again, but hold off if it goes up.  But tomorrow could start lower right?

If you have X set aside to invest, the best time to invest X is when you decide it's for investing.

fartface

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Re: Buying Low - Who else can not resist this correction?
« Reply #29 on: August 24, 2015, 04:01:25 PM »
I was waiting for the S&P to hit 1700 before investing my cash hoard; but I might invest $10K this week and another $10K come October.

SirFrugal

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Re: Buying Low - Who else can not resist this correction?
« Reply #30 on: August 24, 2015, 04:19:26 PM »
Who else is feeling the urge to buy right now?

Nope.  We've had over 6 years of a rather steady bull market, and the only place the recession has ended is in Obama's cooked books.  We'll probably get a dead cat bounce when Yellen announces no rate hike this year, but 3 months from now stocks will be lower than they are today.  Its not that I want to try to time the market, its just that I really hate catching knives.  I'll probably hop in when the dow is below 12,000, and a week later be kicking myself for not waiting for sub 10,000.

YoungStache

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Re: Buying Low - Who else can not resist this correction?
« Reply #31 on: August 24, 2015, 05:36:04 PM »
I'm on the vanguard website and was trying to set up an order for VTSAX, but don't see an option for setting a buy limit?

Heckler

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Re: Buying Low - Who else can not resist this correction?
« Reply #32 on: August 24, 2015, 05:42:26 PM »
I'm curious if it's the buy and hold indexers who reverse the "sell,sell,sell" trend.




If  I had spare cash, I'd also have bought today, but I just spent it last week on bonds to balance out my allocation from this years gains.  Doh! 


PS - I couldn't bring myself to spend the $9.95 fee to buy with the $300 dividends cash I had on hand - that would have been a 3% fee.

chowdan

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Re: Buying Low - Who else can not resist this correction?
« Reply #33 on: August 24, 2015, 06:00:51 PM »
Who else is feeling the urge to buy right now?

Nope.  We've had over 6 years of a rather steady bull market, and the only place the recession has ended is in Obama's cooked books.  We'll probably get a dead cat bounce when Yellen announces no rate hike this year, but 3 months from now stocks will be lower than they are today.  Its not that I want to try to time the market, its just that I really hate catching knives.  I'll probably hop in when the dow is below 12,000, and a week later be kicking myself for not waiting for sub 10,000.

Someones MrBearish :)

I dont see a reason to not be bearish though :). The only problem we have currently is the FEDs. They are running out of fuel, but have the steam roller running at 110%.

I have a money market account that i use to "play" with. I've got different spec stocks(main reason for the account), however I've recently been making a fair amount off of $MYY due to the market crashing and this morning I got a nice little 20% gain on a quick trade of $XIV thanks to the little crash that we had:)

I'm still in $MYY for the short term loss that we are BOUND to see. Long term trading, i would not own anything that is in this play money portfolio.

With your "play" money account, timing is everything.

Eric

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Re: Buying Low - Who else can not resist this correction?
« Reply #34 on: August 24, 2015, 06:21:06 PM »
Who else is feeling the urge to buy right now?

Nope.  We've had over 6 years of a rather steady bull market, and the only place the recession has ended is in Obama's cooked books.  We'll probably get a dead cat bounce when Yellen announces no rate hike this year, but 3 months from now stocks will be lower than they are today.  Its not that I want to try to time the market, its just that I really hate catching knives.  I'll probably hop in when the dow is below 12,000, and a week later be kicking myself for not waiting for sub 10,000.

You sir, need some gold!  And guns!  Probably a full zombie apocalypse prep kit for the coming End of Days too.  LOL

cheddarpie

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Re: Buying Low - Who else can not resist this correction?
« Reply #35 on: August 24, 2015, 07:29:34 PM »
I am loving this! (Both the market and this thread!) I wish I had more cash to invest right now ... even if it drops further (which it will), I know it will go up again before I need to touch any of my savings unless I have some sort of crazy emergency (zombie apocalypse? Probably.)

I'm going to start a new thread on this question but would be curious what you guys think about timing the market for tax loss harvesting. Is this the time to do it??

Thanks!
CP

TomTX

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Re: Buying Low - Who else can not resist this correction?
« Reply #36 on: August 24, 2015, 07:29:59 PM »
We got a small chunk of extra cash last week and after a discussion that bordered very closely on a "timing the market" decision, ended up sticking it into VTIAX. Then we took a step back and realized that putting money into VTIAX is exactly what we do normally anyway since that is what our current asset allocation strategy is dictating. haha

There is a very big difference between predicting "when is the next crash" or " what will the market do next?" and recognizing the market has had a correction and stocks are on sale for 10% off.

Predicting the future versus recognizing the current condition.

okits

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Re: Buying Low - Who else can not resist this correction?
« Reply #37 on: August 24, 2015, 07:46:03 PM »
We got a small chunk of extra cash last week and after a discussion that bordered very closely on a "timing the market" decision, ended up sticking it into VTIAX. Then we took a step back and realized that putting money into VTIAX is exactly what we do normally anyway since that is what our current asset allocation strategy is dictating. haha

There is a very big difference between predicting "when is the next crash" or " what will the market do next?" and recognizing the market has had a correction and stocks are on sale for 10% off.

Predicting the future versus recognizing the current condition.

Thanks for this - makes me feel less bad for being a dirty, dirty market timer and buying today. 

Going to assess the overall situation and place a few limit orders with my remaining cash (about 2%.) New cash infusion next week, so if the correction deepens I'll have more to invest into it.

mrpercentage

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Re: Buying Low - Who else can not resist this correction?
« Reply #38 on: August 24, 2015, 07:47:09 PM »
Sitting in a fair amount of cash. Looking for long term opportunities. You can make a killing on crashes like today but you can lose your shorts too. Limit buys on companies I want to stick with for years will most likely be the plan forward. It does drop faster then it climbs. A little caution with a clear head I think is prudent. Best of luck to the Bulls tomorrow. I suspect it will spike up and be followed by another sharp sell. Who knows the severity. I am looking to buy but the set up is still bad. Every move will be long term focused with the acceptance of almost inevitable short term loss. I have my eyes on about 4 stocks. 2 new positions.

FLA

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Re: Buying Low - Who else can not resist this correction?
« Reply #39 on: August 24, 2015, 07:54:23 PM »
This is killing me, normally when this happens I up my 403B and Roth contributions as high as I can possibly stand. But now disabled and cannot contribute to retirement plans. I am so upset about this, I have to put it totally out of my head and not read any finance news, lol


this is how upset I was- I may have to have brain surgery down the line, I stupidly chose Cobra, my plan is cheap if you use the resources of the medical system I worked for. HR guy said, "just do Cobra until you feel well enough to pick a NYS plan, you have 60 days."  That was fine, I was not anticipating brain issues. They happened. So all my neuro stuff has to be done at the competing hospital because we don't offer it to the level I need. I have my first test there tomorrow, $1500 +30% of total bill. I'm guessing brain surgery will probably be 10 times that if I can get a doc to let me do a drive by and not stay overnight, lol.  Nearing day 60, I call NYS Market Place Plans, HR totally wrong, if you take Cobra at all, you cannot switch until Jan 1. Sucks, I better start saving to cover mounds of uncovered costs. But this sounded better:

So I have 18k left in an EF (not counting Roth principle), i actually researched ways to invest outside of retirement funds and figured I could safely put in 15k and post-pone the remote (I hope) possible brain surgery to Jan 1.  Then I kinda thought about it and realized there probably is something bad going on up there if I could've come up with such an immensely risky, stupid plan. 

enjoy the "sale"!

MacGyverIt

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Re: Buying Low - Who else can not resist this correction?
« Reply #40 on: August 25, 2015, 10:05:03 AM »
Surprising how many nay-sayers there are out there (the so-called experts), predicting the market will drop to as low as 7000 within the next few years. What gives??? I'd put in an order for some Vanguard VTSAX goodness on Sunday and, in my ignorance is bliss weekend, had no idea of Friday's drop. The order went in (10k) on Monday --- however, as is the case with anything "market timing" related, no telling if this will be a "deal" or not.

No reason for me to worry though, I have no intention of cashing out anytime soon and it only matters on the day you sell...

HankERJourney

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Re: Buying Low - Who else can not resist this correction?
« Reply #41 on: August 25, 2015, 10:30:38 AM »
Yep, I did put 20k USD into Vanguard ETF's on Monday. May be it was not yet the bottom (and we are now in a suckers rally, some say), and if September brings more bad news and a new bottom in the market, I will buy again. I was waiting for a correction, so let's use this :-)

economist

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Re: Buying Low - Who else can not resist this correction?
« Reply #42 on: August 25, 2015, 11:26:26 AM »
These min-crashes this year have been so frustrating for me because the market always seems to recover before my 401k contribution goes through. The market is heading back up today, I'm hoping it doesn't fully recover before Friday.

h2ogal

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Re: Buying Low - Who else can not resist this correction?
« Reply #43 on: August 25, 2015, 11:36:35 AM »
Already recovering.     Naughty market timers have a little luck sometimes.   

zephyr911

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Re: Buying Low - Who else can not resist this correction?
« Reply #44 on: August 25, 2015, 11:52:49 AM »
If you have a meaningful amount of cash that you don't need for anything else, why isn't it already invested?

I'm already investing at my maximum sustainable rate and I'm 100% on the "credit cushion" end of the e-fund issue. If I were in a comfortable place with that cushion, I'd think about using it to buy ahead, but I feel no urgency on the subject.

fb132

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Re: Buying Low - Who else can not resist this correction?
« Reply #45 on: August 25, 2015, 12:08:08 PM »
Already recovering.     Naughty market timers have a little luck sometimes.
It means nothing, it can drop again tomorrow or thursday or friday...we simply just don't know.

Kaspian

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Re: Buying Low - Who else can not resist this correction?
« Reply #46 on: August 25, 2015, 12:15:45 PM »
These min-crashes this year have been so frustrating for me because the market always seems to recover before my 401k contribution goes through. The market is heading back up today, I'm hoping it doesn't fully recover before Friday.

Haha....  I can relate to that. I'm dollar-cost-averaging each paycheque biweekly on Mondays and it seems the market likes to take a dump the following Monday.  Been happening all this year.  But I know if I flip to the other Monday it'd be just like changing lanes in a traffic jam or switching lines at the supermarket.  ...Which are all no-win situations.

Retire-Canada

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Re: Buying Low - Who else can not resist this correction?
« Reply #47 on: August 25, 2015, 12:16:31 PM »
If you have a meaningful amount of cash that you don't need for anything else, why isn't it already invested?

Because you have:

- expenses to pay that can be deferred
- some discretionary money for luxuries that you can re-purposed if motivated
- a LOC at a very low interest rate that can be used to fast FWD your next planned investment deposit

You can also re-balance your investments to free up cash according to your asset allocation.

« Last Edit: August 25, 2015, 01:52:02 PM by Vikb »

h2ogal

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Re: Buying Low - Who else can not resist this correction?
« Reply #48 on: August 25, 2015, 02:36:34 PM »
DOH!   Down Again.   Threw in another $10K this afternoon!!  DO NOT TAKE ME INTO A CASINO!!  apparently I have a little bit of a problem.....

KittyCat

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Re: Buying Low - Who else can not resist this correction?
« Reply #49 on: August 25, 2015, 02:53:15 PM »
Well, I finally got started with investing with Vanguard (outside of starting my Roth IRA last week). Tossed in 107k, but dunno when the purchases will be made. I am just happy that it's as if I had started investing 10 months ago.