02-10-2021, 04:48 PM
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#2501
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Celebrated Square Root Day
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Quote:
Originally Posted by Enoch Root
What? Markets never sat after corrections. And 'buy low' is the oldest catch phrase in finance.
The only difference between now and 400 years ago is that they had to do everything in person and by hand.
Well, that plus the fact that they smelled terribly, and had bad teeth.
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How long did the 2008/2009 crash take to come back? I recall it was quite awhile?
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02-10-2021, 04:50 PM
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#2502
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Celebrated Square Root Day
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Quote:
- In general, the stock market is incredibly resilient in its recoveries from drops. In 7 of 11 historical drops, it only took one year for the S&P 500 to recover to its previous all-time high.
- During any time period since 1950, you could have closed your eyes for a decade and re-opened them to find the S&P 500 at a higher price.
- Market drops have become less frequent over time, but the severity of the drops has increased.
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Ah found some things on this. Sorry, I'm pretty new to this, Enoch.
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The Following User Says Thank You to jayswin For This Useful Post:
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02-10-2021, 04:56 PM
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#2503
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Franchise Player
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Quote:
Originally Posted by jayswin
How long did the 2008/2009 crash take to come back? I recall it was quite awhile?
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Yes, it was a while. But that was because it dropped more than 50% and many of the biggest banks and investment companies were teetering on the edge of collapse.
It was not because people didn't buy dips.
Do you honestly think that professional investors didn't buy low, prior to this new wave of 'super savvy' young retail investors? Like, seriously?
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02-10-2021, 04:58 PM
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#2504
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Franchise Player
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Quote:
Originally Posted by jayswin
Ah found some things on this. Sorry, I'm pretty new to this, Enoch.
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Are you presenting this as evidence that people were less inclined to buy low?
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02-10-2021, 05:03 PM
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#2505
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That Crazy Guy at the Bus Stop
Join Date: Jun 2010
Location: Springfield Penitentiary
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Quote:
Originally Posted by Enoch Root
What? Markets never sat after corrections. And 'buy low' is the oldest catch phrase in finance.
The only difference between now and 400 years ago is that they had to do everything in person and by hand.
Well, that plus the fact that they smelled terribly, and had bad teeth.
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Hey, come on now, that's still just as true for Britons today as it was 400 years ago.
Last edited by Cecil Terwilliger; 02-10-2021 at 05:05 PM.
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02-10-2021, 05:05 PM
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#2506
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Franchise Player
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I would argue the opposite. After 20 years of educating individual investors on the benefits of buying and holding for the longterm, that there are more 'buy and holders' now than ever before.
Buying index funds and holding is a very new investment strategy. In the past, tactical rotation was standard operating procedure for most investors.
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02-10-2021, 06:06 PM
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#2507
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First Line Centre
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Quote:
Originally Posted by Cecil Terwilliger
Hey, come on now, that's still just as true for Britons Edmontonianstoday as it was 400 years ago.
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Fixed. oops wrong thread. Truth hurts. Leaving it.
p.s. I am not stalking you Cecil. Just a coincidence. Oh, btw, you left your garage door open today. I closed it when I was going through your recycling. 
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02-10-2021, 06:16 PM
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#2508
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Powerplay Quarterback
Join Date: Mar 2006
Location: In my office...is it 5:00 yet???
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Quite the day for the weed stocks yet again.
SNDL closes yesterday at $1.65, opens today at $2.20 and runs all day to a $2.95 close, then runs up to $3.52 after hours. Wallstreetbets seems to have latched on now, I’m guessing it’s going to get pretty volatile now
Lots of other similar but not quite as large gains: TLRY up 60%, OGI up almost 40%. Wild day.
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02-10-2021, 06:23 PM
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#2509
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Franchise Player
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I got out today at $2.86 - more than happy with that
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The Following 2 Users Say Thank You to Enoch Root For This Useful Post:
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02-10-2021, 07:00 PM
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#2510
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Franchise Player
Join Date: Feb 2012
Location: NC
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I made a few hundred with the dogecoin. Decided to go after the hype and it paid off in a decent way for me. Got it at 0.04, has gotten to .08 a couple of times but then it fluncuates like crazy between .055 and .075.
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02-10-2021, 07:24 PM
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#2511
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Franchise Player
Join Date: Mar 2002
Location: Auckland, NZ
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Quote:
Originally Posted by ForeverFlameFan
I made a few hundred with the dogecoin. Decided to go after the hype and it paid off in a decent way for me. Got it at 0.04, has gotten to .08 a couple of times but then it fluncuates like crazy between .055 and .075.
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I bought at 0.1 and that was stupid. Thought it would keep going given its momentum..... noooope! Haha.
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02-10-2021, 08:34 PM
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#2512
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Franchise Player
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Quote:
Originally Posted by Manhattanboy
Anyone investing in Bitcoin?
The Globe refers to an ETF type fund that trades on the TSX called The Bitcoin Fund (TSX:QBTC-T) and which tracks the value of Bitcoin.
Not sure how much I would want to risk, not so much on the value of Bitcoin, but if it really took off how safe would the underlying shares or units (or whatever they are) be down the road?
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If you are asking if the TSX fund is safe, the answer is yes.
The way funds work is they are Unit Trusts. What that means is they are singular entities that do noting but hold the assets of the fund. And the unitholders have the only claim on those assets. So they are safe.
The underlying assets - whether it be bitcoin in this case, or whatever - can go to zero, but that is what you are betting against any time you make an investment.
The fund does not create any additional risk - unless the fund is leveraging the asset, but I don't think that is happening here.
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The Following User Says Thank You to Enoch Root For This Useful Post:
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02-10-2021, 09:57 PM
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#2513
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Franchise Player
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Quote:
Originally Posted by Manhattanboy
Anyone investing in Bitcoin?
The Globe refers to an ETF type fund that trades on the TSX called The Bitcoin Fund (TSX:QBTC-T) and which tracks the value of Bitcoin.
Not sure how much I would want to risk, not so much on the value of Bitcoin, but if it really took off how safe would the underlying shares or units (or whatever they are) be down the road?
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There is a crypto thread on CP where we argue about Bitcoin and others...I am long time HODLER and continue to believe in it long term. This fund would be as "safe" as any other moderate to high risk investment.
__________________
GFG
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02-11-2021, 07:52 AM
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#2514
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Franchise Player
Join Date: Aug 2012
Location: Seattle, WA/Scottsdale, AZ
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Sold half my IPL for a tidy profit.
__________________
It's only game. Why you heff to be mad?
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02-11-2021, 08:10 AM
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#2515
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Franchise Player
Join Date: Jun 2003
Location: N/A
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Bought SNDL yesterday @ $2.25 and sold this morning at open @ $3.55...will probably stay away from it now too volatile for me!
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The Following User Says Thank You to MJK For This Useful Post:
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02-11-2021, 08:19 AM
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#2516
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Scoring Winger
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Sold my DKNG today. I've been holding it since mid december and it was flat for most of that. Finally perked up over the past week or so but it started to dip again so I got out at a 17% profit.
Still holding SNDL although I almost sold when it dropped to $2.75 today.
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02-11-2021, 08:26 AM
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#2517
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Franchise Player
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Sold all my OPEN this morning. It's already run up 5% from when I sold...
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02-11-2021, 08:51 AM
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#2518
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Franchise Player
Join Date: Oct 2001
Location: Calgary, AB
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Quote:
Originally Posted by DoubleK
Sold half my IPL for a tidy profit.
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I am still under water with IPL even with the 30% jump today.  I am going to hang onto it for the meantime.
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02-11-2021, 08:59 AM
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#2519
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Franchise Player
Join Date: Feb 2012
Location: NC
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Loving the gains guys!
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02-11-2021, 09:16 AM
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#2520
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Scoring Winger
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Bumble (BMBL) IPO today, but trading has been halted the entire time. Was curious to see how much it would rocket up.
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