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3 minutes ago, TwiceHorn said:

 

Thus my question.  Seems like bad stewardship, but pension funds have been doing that for a while now.

Today, a defined benefit pension seems like a really bad idea, but they were the standard retirement plan for quite some time.  Did they ever really work or were they always a Ponzi scheme?

I don't think they were a Ponzi scheme, I just don't think they understood the population that they served.
Actuaries were far to slow to realize that life expectancy was growing, and it was growing faster then they could ever catch up with. And it was a double edged sword that was causing these problems, because the cause was driven by the retiree medical benefits that companies/gov't entities also paid. 
And when healthcare was able to deliver live extending medicine (heart surgery, cancer treatments, etc) then the pension/health care providers were now on the hook for much longer periods of time and at higher costs than ever expected, nor did the actuaries see it coming.

Anectodal proof - my dad "scammed" his way into a full county gov't pension, at age 82 he had triple bypass surgery and has survived until today. That is almost 7 years of pension and much higher medical costs, and it all get rolled into the underfunding of that counties pension and medical coverage (well not underfunded, because I don't think healthcare costs are prefunded like pensions).
His father had a heart attack when he was 58, and died 1 day later in the hospital - that heart attack today would have likely been treated and he'd have been up and around for years to come. He would have likely been around long enough that I would have remembered him, but it wasn't so I have no memory of my grandfather who died shortly after I turned 2. 

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  • That's why I'm out. There is no end game, IMO. This has to be fixed outside of the market and I got too nervous about what that entails for retail investors. They will always be last on the list, if o

  • Rusty Shackelford
    Rusty Shackelford

  • I'm not a financial advisor. This is not financial advise. I don't work in finance. I do not have a degree in finance. Actually, I have a BA and I'm bad at math past Cal I. I won't apologize for the l

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When companies with MC in excess of $1TR go up 19% in 7 days (looking at you AMZN) you know that's normal.

Well...a first for me. Still holding long in my main account but in my “play” account which had grown substantially...I just sold my AAPL position at $280. The gains the last few weeks have been nuts and I don’t see how they maintain through earnings and this recession (however long). I’ll take my 35% year-to-date gain on a large position. 

Holding strong on AMZN, NVDA, GOOG, SPCE and BYND...and will get back in AAPL when a little more dust settles.

Edited by Tailgate

https://apple.news/AQbjT7MKOQPOgmKT-lp827A
 

Isn’t furlough the correct term for this?

 

i mean, ‘stopped sending paychecks’?

 

Ive never heard anyone say they’ve ceased paying employees without the context of ‘furlough’, laying folks off, or firing.


Well maybe before.....

dd4f2296-2186-45d6-b42a-10966b4f9263_tex

2 hours ago, Tailgate said:

Well...a first for me. Still holding long in my main account but in my “play” account which had grown substantially...I just sold my AAPL position at $280. The gains the last few weeks have been nuts and I don’t see how they maintain through earnings and this recession (however long). I’ll take my 35% year-to-date gain on a large position. 

Holding strong on AMZN, NVDA, GOOG, SPCE and BYND...and will get back in AAPL when a little more dust settles.

Still kicking myself for not picking up AMZN.  BYND had done quite nicely this month. 

22 hours ago, TwiceHorn said:

A great question is why the fuck is the Canada Pension Plan investing in LBOs?  If the debt isn't junk, it's got to be close.

When you have a drought you see all the skeletons exposed at the bottom of the lake.  Some jackass manager who was taking a kickback very likely made that not so slick move. 

32 minutes ago, Anastasis said:

Still kicking myself for not picking up AMZN.  BYND had done quite nicely this month. 

I think it's very easy to kick ourselves right now.  It's hard but gotta see the big picture.  I think most of us protected the downside and cost ourselves some upside.  I'm totally ok with that in the position I'm in.  When I was still worried about growth I likely would have been more aggressive.  Shit changes. 

My thoughts are with the dozens of small business owners I know personally who are getting the absolute shit kicked out of them.  I have lots of friends and family type industry investments...I'm not looking for any distributions, just hope these people survive.  Hope I'm wrong and this all turns around faster than the cards show. 

40 minutes ago, Anastasis said:

Still kicking myself for not picking up AMZN.  BYND had done quite nicely this month. 

Ya, it took me a while to bite on AMZN at $900 and again at $1,100. Because I thought that was pricey then...damn...they need to announce a split on the 30th.

5 minutes ago, Tailgate said:

Ya, it took me a while to bite on AMZN at $900 and again at $1,100. Because I thought that was pricey then...damn...they need to announce a split on the 30th.

I bought some during the Christmas crash in 2018 and sold it in February. Told myself I'd buy back in when it hit 1500 again and it just didn't get there.  

Last 30 minute sprint to get positive!

BRRRRRRRR, baby, BRRRRRRR

How do we get a negative price for oil? 

  • Popular Post
3 minutes ago, mdmost said:

How do we get a negative price for oil? 

 

giphy.gif

7 minutes ago, mdmost said:

How do we get a negative price for oil? 

Because you touch yourself at night

Yeah but not with West Texas Intermediate. 

Edited by mdmost

2 minutes ago, mdmost said:

Yeah but not with West Texas Intermediate. 

More of a Brent guy eh?

So if you have the ability to take possession by end of month, you could get PAID $37 for every barrel you buy? That’s incredible

5 hours ago, Dnaguy said:

Today is going to end up like 1% up isn’t it?

 

Nope...

giphy.gif

5 minutes ago, stone oak said:

More of a Brent guy eh?

xiaflex-curved-couch.png
 

Fuck man. It’s a medical condition. No need to get persona.....

 

Oh wait. BRENT. Nm.

12 minutes ago, stone oak said:

More of a Brent guy eh?

 

 

2 hours ago, Lurch said:

So if you have the ability to take possession by end of month, you could get PAID $37 for every barrel you buy? That’s incredible

That only if you bought that contract today; contract expires tomorrow. 
Anxiously awaiting more fireworks tomorrow

2 hours ago, Lurch said:

So if you have the ability to take possession by end of month, you could get PAID $37 for every barrel you buy? That’s incredible

Yet XOM is only down 4% today???

2 hours ago, Lurch said:

So if you have the ability to take possession by end of month, you could get PAID $37 for every barrel you buy? That’s incredible

6c5587a9-5b4b-4439-9ba7-e3dc8b108838_scr

2 hours ago, Lurch said:

So if you have the ability to take possession by end of month, you could get PAID $37 for every barrel you buy? That’s incredible

Yeah I was thinking like a million barrels. Do they give me the money now or after I pick up?

Next thing we know, MBS will get popped and we’ll have a Black Swan paired with multiple full-scale regional destabilization deaths happening.  Guess I’ll pour me a drink and watch the world burn. 

5 minutes ago, Trey3216 said:

Next thing we know, MBS will get popped and we’ll have a Black Swan paired with multiple full-scale regional destabilization deaths happening.  Guess I’ll pour me a drink and watch the world burn. 

And buy puts....definately buy some more puts.

 

Brrrrrrrrrr

 

Goddamnit JPow.

I actually did start buying some longer term SPY puts this afternoon, which I hadn't done in weeks. Nothing too crazy yet, basically just cost averaging down the 225 July puts that I never got rid of a couple of weeks ago(down about 80%, lulz) I think earnings will show that software/tech companies are holding up pretty well, but other sectors will be worse off. Only the tail end of Q1 will show the effects of the shutdown, but Q2 guidance will be interesting, assuming companies even bother to quantify it. I assume the most fucked will just claim that they aren't in a position to provide guidance and leave it at that.

1 hour ago, Trey3216 said:

Next thing we know, MBS will get popped and we’ll have a Black Swan paired with multiple full-scale regional destabilization deaths happening.  Guess I’ll pour me a drink and watch the world burn. 

 

1 hour ago, Blotto said:

And buy puts....definately buy some more puts.

 

Brrrrrrrrrr

 

Goddamnit JPow.

I actually did start buying some longer term SPY puts this afternoon, which I hadn't done in weeks. Nothing too crazy yet, basically just cost averaging down the 225 July puts that I never got rid of a couple of weeks ago(down about 80%, lulz) I think earnings will show that software/tech companies are holding up pretty well, but other sectors will be worse off. Only the tail end of Q1 will show the effects of the shutdown, but Q2 guidance will be interesting, assuming companies even bother to quantify it. I assume the most fucked will just claim that they aren't in a position to provide guidance and leave it at that.

too late

markets already priced it all in 

3 minutes ago, Fudge Nuggets said:

No idea why that would be considered bad news.  Is N Korea now some sort of global economic force?

Uncertainty in leadership of a country sitting on nukes seems concerning enough. 2020 gives no fucks. 

4 minutes ago, Fudge Nuggets said:

No idea why that would be considered bad news.  Is N Korea now some sort of global economic force?

Because South Korea could be overrun with Refugees.  Not exactly a good time for that 

1 minute ago, Trey3216 said:

Because South Korea could be overrun with Refugees.  Not exactly a good time for that 

Didn’t happen the other times their Dear Leader croaked.

3 minutes ago, Anastasis said:

Uncertainty in leadership of a country sitting on nukes seems concerning enough. 2020 gives no fucks. 

There’s uncertainty every day with those wackos.

5 minutes ago, Fudge Nuggets said:

There’s uncertainty every day with those wackos.

Known unknown vs unknown unknown or some such. 

9 minutes ago, Fudge Nuggets said:

Didn’t happen the other times their Dear Leader croaked.

They weren’t necessarily on speaking terms the last couple times either.  

Still keeping my most of my powder dry. And we are back to where I bailed.  Nibbled on some oil and amazon but I think more pain is on the way.  
 

If I protect the nest egg and miss out on some upside I’ll be ok.  Was a good piece on Buffett and Berkshire staying put in a lot of cash as all this shakes out.  
 

https://apple.news/A4HvZPB6GT5O-tRqt1NU8PA

Edited by ChiTownDoc
Link

Cramer on CNBC telling everyone to go read a history book.  This fucking guy. 

Edited by Anastasis

1 minute ago, Anastasis said:

BYND must have a breakthrough on a corona vaccine. 

SBUX deal in China. Where they will be opening production at some point later this year.

1 hour ago, Fudge Nuggets said:

No idea why that would be considered bad news.  Is N Korea now some sort of global economic force?

because I was wrong, and it affects the market because it wasn't already in the price
and everyone would rather have the crazy dictator that you know than the one that you don't know, or a military coup to run a nuclear state....just my guesses

19 minutes ago, Anastasis said:

BYND must have a breakthrough on a corona vaccine. 

they're announcing synthetic bats.  risk free exotic eating

37 minutes ago, Anastasis said:

BYND must have a breakthrough on a corona vaccine. 

Who knew doubling your sodium intake would be the cure for the Rona?

1 hour ago, Tailgate said:

SBUX deal in China. Where they will be opening production at some point later this year.

What could go wrong?  Building fake meat product in China

Begun the great sell-off, they have

Edited by 52-80

3 hours ago, Anastasis said:

Cramer on CNBC telling everyone to go read a history book.  This fucking guy. 

As if any of his fanboys can read...

3 hours ago, Anastasis said:

BYND must have a breakthrough on a corona vaccine. 

Acquired Tegridy Burgers.

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