Reccession

GadsillaGadsilla Posts: 130 Bronze ✭✭✭
edited December 2018 in Community Cafe
Appears that a reccession is coming for Christmas. All major market indicators, Dow, S&P & Nasdaq are all down. It doesn't look good for the U.S economy. Are you guys ready 😊 ?

I feel quite lucky that I sold out on a mutual fund I made for myself some 4 months ago, with some nice profits. How do you guys think high yield funds will do ?

Comments

  • RocketDogRocketDog Posts: 784 Silver ✭✭✭✭
    @Gadsilla, I have been waiting for the real crash since 1999! When I joined the army to avoid repercussions of the recession-that-never-came. Imagine how angry I was when I got out of the army (after a tour in Iraq), and all my friends were living high on the hog in larger houses than they had when I enlisted. That's alright. I got lots of weapons training and became accustomed to 12-15 hour work days under pressure. Life seems easy now. I am prepped and ready for the crash if/when it comes.

    I get most of my advice from Peter Schiff and Lynette Zang. You might check out Lynette's videos over the past few months, she has addressed many types of investments. But basically she thinks most of them are a house of cards, due to derivatives and bail-in policies. I don't know specifically what she said (if anything) about high yield funds.
  • GadsillaGadsilla Posts: 130 Bronze ✭✭✭
    @RocketDog I don't watch others, I read economic metrics by myself. I have not been a perma-bear at all. However, the zero interest rate economy and all the debt in society there is now is telling me that these interest rate hikes will pop the current credit bubble. I've listened Schiff a few times. I asked specifically about high yield funds since one I built has been at basically at what you could expect from a high yield fund, with almost no growth averaging at about 0.1% a month. However, I've made a lot since the market volatility just kicked off.

    You shouldn't watch perma-bears since they'll always be expecting a recession, I've made great money for me and my clients during bull markets. Being a perma-bear doesn't cause much growth overtime and you end up wasting money. I'm curious, have you been able to produce any strong growth in your portfolio ?
  • RocketDogRocketDog Posts: 784 Silver ✭✭✭✭
    I have made my money off real estate and by moving around the country to grab high-paying technical jobs while living way beneath my means. Occasionally I make money on individually selected stocks. I have NO trust in the stock market or investments in the long run. I own a lot of precious metals.
    No I have not had any growth in my portfolio because I don't really have a portfolio because I do not trust banks or the stock market in the long run. At this point I don't think stocks, bonds, money market funds, or even savings accounts have any more certainty for payoff than a slot machine. They are a giant house of cards.
    You may be right, I may be losing an investment opportunity. We all have to choose to do the things our conscience can deal with. I sleep well, with my strategy.
  • GadsillaGadsilla Posts: 130 Bronze ✭✭✭
    Wow, that's interesting. So what do you think'll happen when the "house of cards" finally collapses ?
  • RocketDogRocketDog Posts: 784 Silver ✭✭✭✭
    I don't know. Some people speak of a currency collapse and hyper-inflation, with the dollar being replaced by the SDR. The collapse has been pushed off for so long, that it seems apparent that the financial system/markets are completely artificial. Even in life in general there seems to be a lack of rational cause and effect. Maybe they'll drop interest rates and bail out the banks again. Maybe it will work a second or third time. Maybe we'll go to war with Russia or Iran and hide our economic collapse in the chaos of a war-time economy. Maybe nothing will happen and people will just continue to get depression and anxiety and jump off buildings due to the lack of reality that they experience. Maybe I'm totally wrong. Maybe we have a rich and rosy future ahead after a small dip in the stock market. Who knows? But if we do have the collapse we should have had 20 years ago, I will stop being bearish.
  • GadsillaGadsilla Posts: 130 Bronze ✭✭✭
    Thank you for providing an insight into your perspective.
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