Stocks - The Best Buys 2

[cracher]

So Ottawa will bail out AC again if it really goes south? Because it will cost more than I'm comfortable with to cost-average down on this one.

[Fire]

Originally Posted by cracher

So Ottawa will bail out AC again if it really goes south? Because it will cost more than I'm comfortable with to cost-average down on this one.

The government will have to eventually, they can't let it collapse. The question is how low the stock price will drop. It was once below a dollar not that long ago.

[Manhattanboy]

Any thoughts as to whether it’s too late to move an RSP to cash? My plan is to retire in the next few years but would could leave those funds largely invested and withdraw over time.

[bluejays]

Originally Posted by Manhattanboy

Any thoughts as to whether it’s too late to move an RSP to cash? My plan is to retire in the next few years but would could leave those funds largely invested and withdraw over time.

My personal thoughts on this (I'm absolutely not a financial advisor), is it depends on your timeline. This thing could still absolutely drop further, but if your timeline is 2 years away for using the money, I'd personally keep it in. If your timeline is 4 months away as is the case for me, I'm forced to pull out. I think the real crap shoot is 1 year away - that seems to be the real unknown, but personally I don't have much confidence in this getting better in the near term.

[MoneyGuy]

Originally Posted by Manhattanboy

Any thoughts as to whether it’s too late to move an RSP to cash? My plan is to retire in the next few years but would could leave those funds largely invested and withdraw over time.

Recently retired financial advisor here and a CFP for another 10 days....

If you have at least three to five years I’d leave it invested. If you need cash in the next year or two then you should had that money in cash. The risk of moving to cash is missing the recovery, which I think is inevitable. We’re sitting in a lot of cash that we don’t need for several years and we’ll be dollar-cost averaging into a non-reg portfolio over the next few months.

[jeffporfirio]

Back when Covid-19 started getting out of hand in China, my 18 year old son said to me " maybe you should short airline and oil stocks"; totally dismissed him...

[bluejays]

Originally Posted by jeffporfirio

Back when Covid-19 started getting out of hand in China, my 18 year old son said to me " maybe you should short airline and oil stocks"; totally dismissed him...

It was very weird how late everyone reacted on the stock market. It was almost like it was on another planet when it was happening in China. In hindsight it was so foolish of all of us to react so late when there were ample warning alarms going off. And analysts are the ones we're supposed to believe now?

[Azure]

Good time to buy TSLA.

They are still ramping up production in China. Should be in a good position once the crisis is over.

Almost half the value of where it was 2 weeks ago.

NTLX? If the self isolating continues, one would think their subscriptions will trend up.

Zoom? If the work from home has to continue, they should be uniquely positioned to capture the market.

Of course, the market could crash even more still.

[MoneyGuy]

Originally Posted by jeffporfirio

Back when Covid-19 started getting out of hand in China, my 18 year old son said to me " maybe you should short airline and oil stocks"; totally dismissed him...

I’m impressed that an 18-year-old knows what that means, let alone that he had the idea.

[OMG!WTF!]

Going to be a nasty monday if they dont get an aid deal through the Senate tonight.

[Slava]

Originally Posted by OMG!WTF!

Going to be a nasty monday if they dont get an aid deal through the Senate tonight.

That country is insane. They did this in 2008 as well! The latest is a procedural vote at 9:45am. What this means is the market opens (it hit the limit down in about 3 minutes for futures this afternoon), and probably craters. Then the Senate will vote and I guess we'll see if they have a change of heart? Truth really is stranger than fiction!

I hate to predict anything, but my guess we limit down and get halted for 15 minutes and then the vote takes place. The vote I saw earlier tonight was 47-47, and they need 60 to pass this. Maybe they held another vote after that, I'm not sure, but you would think getting support to average people would be a no-brainer.

[afc wimbledon]

hopefully the GOP realise it will cost Trump more to cover up the massive bailouts they want to pay him than the bailouts themselves

[Slava]

Well here's why I hate making any predictions in these things. Futures were down about 650 points (Dow) and the federal reserve came out with an announcement that they'll do whatever it takes. In Europe there was some big stimulus this morning/overnight and now futures are positive. So, the rollercoaster continues and no one really knows what happens this week!

[DoubleK]

It's impossible to predict anything with the VIX this high.

I'll say invested, but my contributions will stay as cash for the time being.

[united]

Dipped out of SPXS this morning. That was a fun 10 days - entertaining if anything monitoring the variance, sometimes on an hourly basis. Normally would stay as far as possible from those crazy leveraged funds, especially with their decay, but in my view it was improbable the market wouldn't suffer a large loss by the end of the month so was worth jumping in for a reasonable amount. Back to all cash while monitoring the situation and stimulus in the USA.

Also convinced my last family members to get out on Friday and sit on cash for the time being. Three weeks behind schedule but better now than before incurring further losses.

[puckedoff]

If I sell a Canadian bank (non-hypothetically CIBC) and buy another Canadian bank (TD or RY, any of them really) can I claim the capital loss or is that ineligible due to superficial loss rule?

[Slava]

Originally Posted by puckedoff

If I sell a Canadian bank (non-hypothetically CIBC) and buy another Canadian bank (TD or RY, any of them really) can I claim the capital loss or is that ineligible due to superficial loss rule?

yes, you can claim it.

[DoubleK]

For those of you who were fully invested in 2008, how long did it take you to get back to even? 2 years?

[OMG!WTF!]

For the bottom in 2009 it took about four years to get back to 2007 highs.

[afc wimbledon]

Originally Posted by DoubleK

For those of you who were fully invested in 2008, how long did it take you to get back to even? 2 years?

wholly different problem though, 2008 was simple to solve, this isnt