Stock Market

[noleclone2]

Anyone else thinking of taking some profit? I am toying with the idea of moving money out of my two 401K retirement stock heavy mutual fund plans into something more conservative in the two plan's offerings. Seems like 25% increase in DOW over the last 11 months is a bit ridiculous given as the markets had been already on a long run since then. October is the month for corrections.

But then again, I don't often move money around. Maybe next year it will go up the same...

 

[DukeFan1]

We've already had 3 stock market bubbles that have burst in the past 30 years, so we're about due for another one...too bad that regular people looking for modest retirement income will be the ones left holding the bag, along with employees laid off when the economy grinds to a halt once again, while the Wall Street lords and masters will get to recoup their losses by buying up all of the discounted stocks at pennies on the dollar, then wait for the next bubble to form...

 

[seminole97]

Anyone else thinking of taking some profit? I am toying with the idea of moving money out of my two 401K retirement stock heavy mutual fund plans into something more conservative in the two plan's offerings. Seems like 25% increase in DOW over the last 11 months is a bit ridiculous given as the markets had been already on a long run since then. October is the month for corrections.

But then again, I don't often move money around. Maybe next year it will go up the same...

With that out of the way, why not just rebalance things? I guess that's what you're leanin toward anyway, but seems like the smart thing to do to protect gains.
I'm not a pro, so this advice is free, and free of government oversight.

 

[noleclone2]

Yep-that is what I am doing, not cashing it all out, just going way more conservative to try to capture the gains made the last 5 years, which have been sweet. Got off the phone with Fidelity so it is a done deal. Someone bookmark this and bump when the DOW break's 30K next year.

 

[FSUTribe76]

Yep-that is what I am doing, not cashing it all out, just going way more conservative to try to capture the gains made the last 5 years, which have been sweet. Got off the phone with Fidelity so it is a done deal. Someone bookmark this and bump when the DOW break's 30K next year.

 

[Gonolz]

You could move the money into Garnet, but the real players buy Gold:

 

[seminole97]

MtGox reference?

Then lets use more current info:

"The infamous bitcoin exchange Mt. Gox, which declared bankruptcy in 2014 while owing creditors 45 billion yen ($414 million), has a stash of bitcoins held by its trustee that—at least for the moment—are valuable enough to pay off its creditors and then some, thanks to the cryptocurrency’s record-setting price surge this year. Bitcoin set a historic high two days ago (June 11), trading at over $3,000 a coin. The Mt. Gox trustee holds 202,185 bitcoins (pdf), which are now worth about $560 million, at the bitcoin price of nearly $2,800 today.

More than half a billion dollars worth of bitcoin just sitting in a trustee account hasn’t gone unnoticed. Mt. Gox creditors congregating on a sub-Reddit on discussion site Reddit have proposed many uses for this stash of money."

Tribe, what was the price of bitcoin when MtGox failed?
What is the price of bitcoin today?

 

[Fijimn]

MtGox reference?

Then lets use more current info:

"The infamous bitcoin exchange Mt. Gox, which declared bankruptcy in 2014 while owing creditors 45 billion yen ($414 million), has a stash of bitcoins held by its trustee that—at least for the moment—are valuable enough to pay off its creditors and then some, thanks to the cryptocurrency’s record-setting price surge this year. Bitcoin set a historic high two days ago (June 11), trading at over $3,000 a coin. The Mt. Gox trustee holds 202,185 bitcoins (pdf), which are now worth about $560 million, at the bitcoin price of nearly $2,800 today.

More than half a billion dollars worth of bitcoin just sitting in a trustee account hasn’t gone unnoticed. Mt. Gox creditors congregating on a sub-Reddit on discussion site Reddit have proposed many uses for this stash of money."

Tribe, what was the price of bitcoin when MtGox failed?
What is the price of bitcoin today?

If I own 560 million "dollars" of bitcoin, what can I buy outside child labor, drugs and comic books. I'm not really into those three commodities

 

[surfnole]

You could move the money into Garnet, but the real players buy Gold:

Are you being sarcastic?

Gold has performed horribly since the last market crash. However it will come roaring back in the next.

 

[seminole97]

If I own 560 million "dollars" of bitcoin, what can I buy outside child labor, drugs and comic books. I'm not really into those three commodities

Dude, you could buy a Dell. You could shop on Overtstock or NewEgg.
I know lots of IT services are sold in bitcoin.

Also, vendor integration mechanisms like bitpay are out there:

"The BitPay secure bitcoin wallet is giving consumers a powerful toolkit for getting started right with bitcoin payments, and the BitPay Card gives bitcoin users a fast way to convert bitcoin into dollars and spend their funds anywhere Visa® is accepted."

This stuff is still incredibly nascent, but it holds practical advantages that give it real world utility, and thereby value.

It is simply a hard money.
That has a utility.

 

[Gonolz]

Are you being sarcastic?

You new here? When am I ever not?

 

[DanC78]

We've already had 3 stock market bubbles that have burst in the past 30 years, so we're about due for another one...too bad that regular people looking for modest retirement income will be the ones left holding the bag, along with employees laid off when the economy grinds to a halt once again, while the Wall Street lords and masters will get to recoup their losses by buying up all of the discounted stocks at pennies on the dollar, then wait for the next bubble to form...

Why another one now?

 

[cfbfan23]

MtGox reference?

Then lets use more current info:

"The infamous bitcoin exchange Mt. Gox, which declared bankruptcy in 2014 while owing creditors 45 billion yen ($414 million), has a stash of bitcoins held by its trustee that—at least for the moment—are valuable enough to pay off its creditors and then some, thanks to the cryptocurrency’s record-setting price surge this year. Bitcoin set a historic high two days ago (June 11), trading at over $3,000 a coin. The Mt. Gox trustee holds 202,185 bitcoins (pdf), which are now worth about $560 million, at the bitcoin price of nearly $2,800 today.

More than half a billion dollars worth of bitcoin just sitting in a trustee account hasn’t gone unnoticed. Mt. Gox creditors congregating on a sub-Reddit on discussion site Reddit have proposed many uses for this stash of money."

Tribe, what was the price of bitcoin when MtGox failed?
What is the price of bitcoin today?

Are any of those bitcoins they're holding, yours?

 

[Spearhead04]

Good way to lose your butt is to try and time the market. Dow up .6% alone today

 

[seminole97]

Are any of those bitcoins they're holding, yours?

Nope.
To me one of the more interesting aspects of bitcoin is lack of counterparty risk (outside imagining the entire network decided to shut down).
Handing your coins over to someone else's wallet has a risk, like depositing with a hedge fund, or just having an account at MF Global.

 

[Formerly Rockymtnole]

Good way to lose your butt is to try and time the market. Dow up .6% alone today

But then the Treasury Sec says if tax reform fails the markets are going down.

 

[cfbfan23]

Nope.
To me one of the more interesting aspects of bitcoin is lack of counterparty risk (outside imagining the entire network decided to shut down).
Handing your coins over to someone else's wallet has a risk, like depositing with a hedge fund, or just having an account at MF Global.

How Corzine avoided prison time is beyond me. Friends in high places, I guess. What a POS.