General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsClosing out the year... Brutal year in the stock market with more bad news to come.
The pandemic fueled bubble of 2021 created some stark evaporation of investors funds.
A few examples that make Tesla's losses pale.
1) During the pandemic, with the explosion of online shopping and the Fed pumping cash via QE, stimulus and UI, Shopify (SHOP) had a nice run, hitting a post split adjusted HIGH of $170/share.
Today it trades for $32/share.
2) Likewise, AMAZON (AMZN) hit a pandemic high of $190/share, adjusted for the split...
Today it's 85/share.
3) Upstart (UPST) became a popular pandemic era favorite, offering a 21st Century AI based online lending software application
In October of 2021 it was $400/share... it's been dropping ever since.
It's $13/share today.
TRILLIONS of dollars have gone POOF from the pandemic inflated bubble that existed in 2021...
And experts see a "real recession" coming in 2023... not like the mini one we had in 2022 with 2 straight negative GDP quarters.
Hold on everyone...keep seat belts fastened until the light turns off.
P.S.
For those who are curious, most of the $$ that went POOF went into hedge funds and banks shorting the market... a vast majority of the money LOST came from the retail investor either directly or indirectly through their Mutual Fund, Retirement Fund or Pension...
FSogol
(45,435 posts)WarGamer
(12,323 posts)I can post stories about kittens and butterflies if it makes you FEEL better.
https://happynews.com/
https://happynews.com/sneaky-german-shepherd-steals-a-babys-pacifier-and-gets-caught-on-camera-watch/
https://happynews.com/wild-parrot-falls-madly-in-love-with-woman-who-showed-her-kindness/
Bucky
(53,928 posts)Those of us watching our retirement savings fall down the staircase are gonna say words very much like "fud" a lot. No one's shooting the messenger, my friend.
WarGamer
(12,323 posts)Turbineguy
(37,285 posts)Initech
(100,028 posts)WarGamer
(12,323 posts)Everything should be just great...
Initech
(100,028 posts)If a Repuke steals the Presidency again in 2024, this country will definitely break up.
The republic is already in its death throes. A Repuke will kill it.
Yavin4
(35,411 posts)After 9/11, interest rates weren't higher than 2% for almost 20 years until this year. They are now 4% and that is killing stocks as well as the speculation economy.
(Note: my numbers may be off)
multigraincracker
(32,632 posts)Im down about 18% in the market, still up a bunch from my investments over time.
Partner got a great jobs a few months back and our household income has tripled. No loans out, everything, home car, etc are paid off years ago. We have lived well on my SS and pension for the last 5 years. Not looking to buy or sell a home, but now looking at a new car that will be a cash deal.
Just like 2008 for me and that was a great year too.
WarGamer
(12,323 posts)the family portfolio is down around 16% but my daily trader account (I'm a full time daily options trader) is actually up 12.88% on the year...
Fiendish Thingy
(15,544 posts)I survived 2008, the dot com bust, and the crash of 87.
If we go into a recession, I expect it will be short and shallow. Unemployment is at record lows.
Although the S&P is down 19% for the year, I think its entirely possible it will regain all the ground it has lost by mid-2023.
Groceries cost more, but gas is going down. My 8.7% SS increase kicks in a couple of weeks from now.
Im not worried- it could be a hell of a lot worse.
multigraincracker
(32,632 posts)08.
enid602
(8,589 posts)My IRA (100% in mutual funds) went down 23% from its high. I have not moved anything, and its currently down only 12%. The key is not to panic.
iemanja
(53,010 posts)It really sucks.
Bucky
(53,928 posts)If I was 35 I'd be excited, waiting for the market to bottom out and then start buying all those stocks at discount prices.
The bouncing of the market will hit everyone different, based on age.
Personally, I thank God for Obama's and Clinton's stock markets, cause over the past 25 years we've have record phenomenal growth at stunningly consistent paces. The only serious drops came from Bush era shenanigans and the bullshit trade war threats that Trump kept throwing at China. Oh, and that Covid thing.
I'm in a much better retirement position than my meager investment skills should allow. I count my blessings. It'll all grow back again, gradually. But I don't know if we'll ever have another growth run like the 90s and the 10s gave us. At my age, it's probably time to start shifting to a more conservative, less aggressive portfolio. And maybe remind myself my retirement account's purchasing power is a first world problem.