Author Topic: Everything is fucked! Sell NOW!  (Read 6922 times)

GuitarStv

  • Senior Mustachian
  • ********
  • Posts: 14576
  • Age: 38
  • Location: Toronto, Ontario, Canada
Everything is fucked! Sell NOW!
« on: January 12, 2016, 09:15:30 AM »
http://business.financialpost.com/investing/global-investor/sell-everything-banking-giant-tells-investors-and-brace-for-cataclysmic-year

RUN, RUN FOR THE HILLS BEFORE THE CANNIBALS GET YOU!







. . . and we wonder why there are so few buy and hold investors . . .

Roboturner

  • Pencil Stache
  • ****
  • Posts: 504
  • Age: 31
  • Location: MCOL
  • No Snacks, Just Math
Re: Everything is fucked! Sell NOW!
« Reply #1 on: January 12, 2016, 09:24:05 AM »
HA and they laughed when I bought $100,000 worth of pickled herring to put in my doomsday bunker!

PathtoFIRE

  • Pencil Stache
  • ****
  • Posts: 695
  • Age: 40
  • Location: Dallas
Re: Everything is fucked! Sell NOW!
« Reply #2 on: January 12, 2016, 09:29:18 AM »
Yeah, but do I buy gold or frozen OJ futures?

I kind of wish that their predictions will come true, but I doubt it. I read CNBC for the entertainment, I like seeing articles directly contradicting each other, and I just wonder if anyone ever keeps track of these calls and predictions. It's a constant parade of so-called experts, and who can remember their records. I know at the end of 2015, there was one person predicting an S&P above 2200 by year's end, twice several weeks apart. Obviously that failed to materialize, but I can't remember his name, and when he pops up again to give another prediction, I'm sure no one else will remember the failed calls of the past.

acroy

  • Handlebar Stache
  • *****
  • Posts: 1702
  • Age: 42
  • Location: Dallas TX
    • SWAMI
Re: Everything is fucked! Sell NOW!
« Reply #3 on: January 12, 2016, 09:38:17 AM »
Bought $500 of Bic lighters. You know, for barter. Gold coins are worthless when the lights go out. haha!

Seriously, I hope it does tank. Down by 80% would be a good start!! So I can put some Sweet Stach to work purchasing some underprices assets!

Burn baby burn!!

Paul der Krake

  • Magnum Stache
  • ******
  • Posts: 4627
  • Age: 11
  • Location: UTC-10:00
Re: Everything is fucked! Sell NOW!
« Reply #4 on: January 12, 2016, 09:39:01 AM »
I called my 401(k) provider and they said I couldn't cash out my $456.44 without paying the 10% early withdrawal penalty.

Obama is already implementing unconstitutional money supply control policies, WAKE UP SHEEPLE!

Roboturner

  • Pencil Stache
  • ****
  • Posts: 504
  • Age: 31
  • Location: MCOL
  • No Snacks, Just Math
Re: Everything is fucked! Sell NOW!
« Reply #5 on: January 12, 2016, 09:39:47 AM »
I called my 401(k) provider and they said I couldn't cash out my $456.44 without paying the 10% early withdrawal penalty.

Obama is already implementing unconstitutional money supply control policies, WAKE UP SHEEPLE!

+1 THIS IS OBAMA'S AMERICA!

zephyr911

  • Magnum Stache
  • ******
  • Posts: 3628
  • Age: 41
  • Location: Northern Alabama
  • I'm just happy to be here. \m/ ^_^ \m/
    • Pinhook Development LLC
Re: Everything is fucked! Sell NOW!
« Reply #6 on: January 12, 2016, 09:44:07 AM »
I called my 401(k) provider and they said I couldn't cash out my $456.44 without paying the 10% early withdrawal penalty.

Obama is already implementing unconstitutional money supply control policies, WAKE UP SHEEPLE!

+1 THIS IS OBAMA'S AMERICA!
OMG ur rt its 2016 *sky falling*

4alpacas

  • Handlebar Stache
  • *****
  • Posts: 1896
Re: Everything is fucked! Sell NOW!
« Reply #7 on: January 12, 2016, 09:59:48 AM »
I called my 401(k) provider and they said I couldn't cash out my $456.44 without paying the 10% early withdrawal penalty.

Obama is already implementing unconstitutional money supply control policies, WAKE UP SHEEPLE!

+1 THIS IS OBAMA'S AMERICA!

I can't help myself. 

gillstone

  • Bristles
  • ***
  • Posts: 391
  • Age: 38
  • Location: The best state in the Union (MT)
Re: Everything is fucked! Sell NOW!
« Reply #8 on: January 12, 2016, 10:32:01 AM »
As a note of additional amusement...

RBS was one of the last banks to get that the housing market was collapsing in 2008.  They were a still trying to increase their holdings on default swaps and CDOs even as other investors were running for the hills.

Alternative headline:  Bank That was Horrible at Gauging Risk Craps its Pants

Retire-Canada

  • Walrus Stache
  • *******
  • Posts: 6836
Re: Everything is fucked! Sell NOW!
« Reply #9 on: January 12, 2016, 11:09:10 AM »
Thanks you so much! I just sold everything.

I've used the $$ to buy 55,000 titanium sporks. I betting it will be the "it" product for the discerning cannibal.

thepokercab

  • Bristles
  • ***
  • Posts: 486
Re: Everything is fucked! Sell NOW!
« Reply #10 on: January 12, 2016, 11:15:12 AM »
I for one agree.  I just liquidated everything and my asset allocation is now 100% in Powerball tickets.  It is the only way for your dreams to come true after all. 

AdrianC

  • Handlebar Stache
  • *****
  • Posts: 1024
  • Location: Cincinnati
Re: Everything is fucked! Sell NOW!
« Reply #11 on: January 12, 2016, 11:15:48 AM »
Bought $500 of Bic lighters. You know, for barter. Gold coins are worthless when the lights go out. haha!

Seriously, I hope it does tank. Down by 80% would be a good start!! So I can put some Sweet Stach to work purchasing some underprices assets!

Burn baby burn!!

While I understand the sentiment, an 80% drop would be a bit too much. Could our financial systems recover from a shock like that?

RBS has advised clients to brace for a “cataclysmic year” and a global deflationary crisis, warning that major stock markets could fall by a fifth and oil may plummet to $16 a barrel.

20%. Quite possible. Probable, even.

Permabear Hussman:

http://www.hussmanfunds.com/wmc/wmc160111.htm

Our expectations for a global economic downturn, including a U.S. recession, have hardened considerably in the past few weeks, with a continued expectation of a retreat in equity prices on the order of 40-55% over the completion of the current cycle as a base case.


One Noisy Cat

  • Stubble
  • **
  • Posts: 221
Re: Everything is fucked! Sell NOW!
« Reply #12 on: January 12, 2016, 11:49:45 AM »
    The market has climbed 290% since 2009. So naturally a 10% drop has some people in hysterics, especially since recessions happen every seven years or so. But as my Economics Forecasting professor used to say (before Bernie Madoff ripped him off of $2 million): the stock market has correctly predicted nine out of the last five recessions

Travis

  • Magnum Stache
  • ******
  • Posts: 2692
  • Location: South Korea
Re: Everything is fucked! Sell NOW!
« Reply #13 on: January 12, 2016, 12:43:49 PM »
    The market has climbed 290% since 2009. So naturally a 10% drop has some people in hysterics, especially since recessions happen every seven years or so. But as my Economics Forecasting professor used to say (before Bernie Madoff ripped him off of $2 million): the stock market has correctly predicted nine out of the last five recessions

A 10-20% drop will scare the lesser-educated and those who are new to the market.  I had almost nothing at stake in 2008 so I didn't experience the decline or the rise that followed.  290% is what other people experienced after sweating for a couple years first.  If all I've read for the last couple years is "7% average market increase and stop worrying" I'm going to be a a little nervous.  I'm not saying those people are right, but that will be the feeling.

Kaspian

  • Handlebar Stache
  • *****
  • Posts: 1536
  • Location: Canada
    • My Necronomicon of Badassity
Re: Everything is fucked! Sell NOW!
« Reply #14 on: January 12, 2016, 12:51:38 PM »
Thanks for the tip!  Index funds have been liquidated and everything now in pork bellies!

Gone Fishing

  • Magnum Stache
  • ******
  • Posts: 2755
  • So Close went fishing on April 1, 2016
    • Journal
Re: Everything is fucked! Sell NOW!
« Reply #15 on: January 12, 2016, 01:52:08 PM »
Thanks for the tip!  Index funds have been liquidated and everything now in pork bellies!

You should have saved some for salt and sugar. Mmmm, bacon!

The Happy Philosopher

  • Bristles
  • ***
  • Posts: 343
    • thehappyphilosopher
Re: Everything is fucked! Sell NOW!
« Reply #16 on: January 12, 2016, 02:03:02 PM »
Thanks you so much! I just sold everything.

I've used the $$ to buy 55,000 titanium sporks. I betting it will be the "it" product for the discerning cannibal.

I just googled titanium spork and there is a surprising variety to choose from...

Retire-Canada

  • Walrus Stache
  • *******
  • Posts: 6836
Re: Everything is fucked! Sell NOW!
« Reply #17 on: January 12, 2016, 02:42:37 PM »
I just googled titanium spork and there is a surprising variety to choose from...

Indeed. This is an asset class for the experienced investor only. Buy the wrong spork and well....hahaha...you might as well have just bought some spoons.

fattest_foot

  • Pencil Stache
  • ****
  • Posts: 751
Re: Everything is fucked! Sell NOW!
« Reply #18 on: January 12, 2016, 03:11:04 PM »
20% doesn't even sound that bad. 40% and I might pay attention.

But either way, I welcome it, as this will be the first year I max 401k's and IRA's. Plus hopefully a little extra in a taxable account.

Capsu78

  • Pencil Stache
  • ****
  • Posts: 714
  • Location: Chicagoland
Re: Everything is fucked! Sell NOW!
« Reply #19 on: January 12, 2016, 04:19:43 PM »
As a note of additional amusement...

RBS was one of the last banks to get that the housing market was collapsing in 2008.  They were a still trying to increase their holdings on default swaps and CDOs even as other investors were running for the hills.

Alternative headline:  Bank That was Horrible at Gauging Risk Craps its Pants

...and while they still had a major sponsorship in a Formula 1 team.  Nothing screams "fiscal conservativism" like a F1 team!

The Happy Philosopher

  • Bristles
  • ***
  • Posts: 343
    • thehappyphilosopher
Re: Everything is fucked! Sell NOW!
« Reply #20 on: January 12, 2016, 04:42:40 PM »
I just googled titanium spork and there is a surprising variety to choose from...

Indeed. This is an asset class for the experienced investor only. Buy the wrong spork and well....hahaha...you might as well have just bought some spoons.

I sense a business opportunity here ;)
www.certifiedtitaniumsporkinvestment.com

DavidAnnArbor

  • Handlebar Stache
  • *****
  • Posts: 2176
  • Age: 54
  • Location: Ann Arbor, Michigan
Re: Everything is fucked! Sell NOW!
« Reply #21 on: January 12, 2016, 05:08:52 PM »
   But as my Economics Forecasting professor used to say (before Bernie Madoff ripped him off of $2 million): the stock market has correctly predicted nine out of the last five recessions

What does the professor say now?  What a terrible thing to happen to the professor!!!

Abe

  • Handlebar Stache
  • *****
  • Posts: 1265
Re: Everything is fucked! Sell NOW!
« Reply #22 on: January 12, 2016, 07:21:15 PM »
Fibonacci numbers!?!?! Run!!!

One Noisy Cat

  • Stubble
  • **
  • Posts: 221
Re: Everything is fucked! Sell NOW!
« Reply #23 on: January 12, 2016, 09:57:30 PM »
   But as my Economics Forecasting professor used to say (before Bernie Madoff ripped him off of $2 million): the stock market has correctly predicted nine out of the last five recessions

What does the professor say now?  What a terrible thing to happen to the professor!!!

He is Irwin Kellner, who occasionally writes for marketwatch.com When I took his class 30 years ago he was chief forecaster for Manny Hanny (Manufacturers Hanover bank). Reasonably likeable, moderate guy, always wore three piece suits.  I don't know how much of a hit to his finances $2 million was, but I was sorry to hear about him getting ripped off