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(USA Today)   Bad: Thanks to Stock market turmoil you lose $11 billion in less than a week. Good: you are so rich your reaction to losing $11 billion is ¯\_(ツ)_/¯   ( usatoday.com) divider line
    More: News, Berkshire Hathaway, Warren Buffett, Stock market, Stock, Berkshire Hathaway stake, Buffett, Investment, Berkshire Hathaway stock  
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1688 clicks; posted to Business » on 09 Feb 2018 at 1:35 PM (22 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



17 Comments     (+0 »)
 
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2018-02-09 12:59:58 PM  
it me
 
2018-02-09 01:09:58 PM  
I calculated how much I lost this morning from the peak.  It's 9.2%.  Just a few weeks ago I was asking myself if I could stick with this level of risk and handle losing 20-30% of my money.  I decided I was.  It doesn't feel that bad.  I've got 25 years to get it back.
 
2018-02-09 01:47:54 PM  

Rapmaster2000: I calculated how much I lost this morning from the peak.  It's 9.2%.  Just a few weeks ago I was asking myself if I could stick with this level of risk and handle losing 20-30% of my money.  I decided I was.  It doesn't feel that bad.  I've got 25 years to get it back.


And it is time that is your best weapon on this, but you already knew that.
 
2018-02-09 01:55:48 PM  
Looks like a five digit loss for me in a week.  Still feeding the IRA but getting a bit nervous about this jumping off Wall Street for Main Street.
 
2018-02-09 01:58:10 PM  
I pulled out on February 4 (in anticipation of Monday) - moved everything into bonds. Now I'm rooting for this to be the big one.
 
2018-02-09 01:58:15 PM  
I can't understand these people being completely wiped out by this. What were they betting on derivative based derivatives backed by derivatives on margin secured by a HELOC and car title loan for good measure?
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Smokey:  You got to be a stupid muthafuka to lose yo life savings when the market only dropped 10%!
 
2018-02-09 02:02:17 PM  

peterquince: I pulled out on February 4 (in anticipation of Monday) - moved everything into bonds. Now I'm rooting for this to be the big one.


Oh no.  In a similar thread I was told I was wrong to hope for a crash.  Even if it is caused by people bundling up crap and selling it as if it were gold.  The only good answer is to root for the market to climb forever!  Even if we have to print zimbabwe amounts of dollars to bail out everything (except me, I never get bailed out, I am not too big to fail.).
 
2018-02-09 02:10:07 PM  
That's because all the money is on paper. It's not physical cash. I've lost >$40,000 so far, but it's not affecting my lifestyle because it was never cash in my bank account. I'm only 39, so I have time to make it back.
 
2018-02-09 02:19:27 PM  

AmbassadorBooze: peterquince: I pulled out on February 4 (in anticipation of Monday) - moved everything into bonds. Now I'm rooting for this to be the big one.

Oh no.  In a similar thread I was told I was wrong to hope for a crash.  Even if it is caused by people bundling up crap and selling it as if it were gold.  The only good answer is to root for the market to climb forever!  Even if we have to print zimbabwe amounts of dollars to bail out everything (except me, I never get bailed out, I am not too big to fail.).


Nope. I'm rooting for a huge drop and then a quick recovery. Mind you I only have about $37 invested. But it would be nice to have timed the market well.
 
2018-02-09 03:19:41 PM  
Why would he care about losing $11B in paper equity?

And he didn't have that $11B like... a year ago before the huge stock market surge. Easy come, easy go.
 
2018-02-09 03:26:23 PM  

Rapmaster2000: I calculated how much I lost this morning from the peak.  It's 9.2%.  Just a few weeks ago I was asking myself if I could stick with this level of risk and handle losing 20-30% of my money.  I decided I was.  It doesn't feel that bad.  I've got 25 years to get it back.


Lost about the same amount by Wednesday, last night I had gained most of it back. Only down about .5% now.
Much ado about nothing. But that's the MSM for you, got to keep everyone in a panic and scared.
 
kab
2018-02-09 03:54:45 PM  
You don't "have" anything until you cash out.
 
2018-02-09 04:28:15 PM  

Bullseyed: Why would he care about losing $11B in paper equity?

And he didn't have that $11B like... a year ago before the huge stock market surge. Easy come, easy go.


Right?!  All you really have is today.
 
2018-02-09 05:56:29 PM  

kab: You don't "have" anything until you cash out.


Yup, and you didn't lose anything unless you cash out.

If you're young, stock market drops should be thought of as a buying opportunity.

Hell, I knew a little old lady businesswoman when I was in college from helping her convert her store's accounting software over from an electromechanical device to a real computer, and when the Black Monday stock market crash happened her response was to mortgage her big fancy fully paid for home and buy Walmart stock.

Her unassailable reasoning was that "half of buying low and selling high was buying low, and right now it's pretty damn low".
 
2018-02-09 07:53:36 PM  
Does this mean the smug people bragging about being '401k millionaires' a few weeks back will stop patting themselves on the back?

Almost as annoying as the BTC crew.
 
2018-02-10 07:17:39 AM  
Unrealized gains/loses subs.
He think he will be okay; +109bil cash.

Buffett is the ultimate value investor and will possibly be hanging it up within the next 2 years. I get the feeling he is waiting for something that will make his $bac deal look small.
 
2018-02-10 01:21:57 PM  
It's Warren Buffet, he's working on dumping most of his sizable fortune into charity before he dies anyway, so losing 11 billion is just less to deal with for him.  Now, the question is, how do I get his attention focused on a charity I like to call, "My house needs a pretty thorough renovation and a couple of rooms added on.  I just got laid off from my second job, and my brother and his family just asked to move in with me and my family, until they can get back on their feet, which means I'll never get them out of the house."  I think about ten million would let me have enough investment income to cover the necessary expansion and I wouldn't have to get another second job.  Only good thing about it is the opportunity for time with the family I have barely seen in the past five years and perhaps even a bit more than 4 hours of sleep a night.
 
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