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08-05-2024, 07:38 AM
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#1 | | OMGWTFBBQ is a common word I say everyday
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| Aug 5th Market Crash
https://www.cnn.com/business/live-ne...nge/index.html
I'm not invested in investing, but this took me by surprise. How are you guys doing? I checked my investment funds and they all dropped various amounts.
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08-05-2024, 07:42 AM
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#2 | | I contribute to threads in the offtopic forum
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Rekt, all I can say.
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08-05-2024, 08:25 AM
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#3 | | RS.net, helping ugly ppl have sex since 2001
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Good day to buy ... except TSX is closed.
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08-05-2024, 08:33 AM
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#4 | | Willing to sell body for a few minutes on RS
Join Date: Oct 2016 Location: Ricemond
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Pretty damn bad. Luckily we pullled most of our capital out of stocks and into high rate interest savings when they were giving out gics for 4.5% on a one year.
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08-05-2024, 09:14 AM
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#5 | | HELP ME PLS!!!
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Yea I want to buy but we closed, buy the dip
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08-05-2024, 09:49 AM
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#6 | | OMGWTFBBQ is a common word I say everyday
Join Date: Dec 2008 Location: Richmond
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Last Friday was the best fucking Friday to dump a load into wealth simple for that sweet bonus what a great decision I made
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08-05-2024, 10:55 AM
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#7 | | y'all better put some respeck on my name
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In the last few months, there has been an unrealistic run-up in many tech stocks like NVDA, so a pullback was expected.
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08-05-2024, 11:38 AM
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#8 | | in the butt
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Bring on another 20-30% drop across the board
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08-05-2024, 11:56 AM
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#9 | | "They call me Bowser...RawR!"
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Past few days, I'm down about $30k. Not worried, corrections are normal. I've invested through a few market crashes and everytime, I've come out with more money than before.
Ignore it, stay invested and keep shoveling more money in. You're better off in the long run.
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08-05-2024, 12:24 PM
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#10 | | I have named my kids VIC and VLS
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| Quote:
Originally Posted by !LittleDragon  Past few days, I'm down about $30k. Not worried, corrections are normal. I've invested through a few market crashes and everytime, I've come out with more money than before.
Ignore it, stay invested and keep shoveling more money in. You're better off in the long run. | There are endless charts about investing which basically say, there’s no bad time to start, and there’s never a bad time to add to your investments, Lows or highs.
The only real “losers” in these times are people who move into retirement on a dip, and even then if you stay invested you’re retirement savings will still likely recover to some degree
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08-05-2024, 01:38 PM
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#11 | | I keep RS good
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This ain’t even close to a crash lol.
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08-05-2024, 03:08 PM
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#12 | | I *heart* Revscene.net very Muchie
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It turned out to be a surprisingly mild day after what was a very rocky start - I got the "down 10%" notifications for multiple stocks this morning but it all settled down by end of day. My RRSP is back to where it was about 5 weeks ago so no biggie - that's a pretty normal swing. My non-RRSP is where the up and downs were a lot bigger - I'm back to where I was in February which sucks but I feel good that it'll bounce back at least half way by end of year.
I do regret not exiting some of my position on Amazon when it hit $200 in July - that's always been a bit of a target number for me but I didn't expect it to happen and when it did I was too busy to figure out how much to sell and left it. If I had exited some of it I would have just bought back in today - $160 for Amazon is really cheap - I'm super bullish on their business. I was planning to sell a bunch of it to pay down my mortgage next year but now I might wait a bit to see it get back to $200 first.
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08-05-2024, 03:10 PM
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#13 | | I keep RS good
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expect things to get more volatile in the next coming months. sept is usually the worst performing month and that's coming soon.
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08-05-2024, 04:10 PM
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#14 | | 2013, 2016, 2017 & 2018 NHL Fantasy RS1 Champion
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Le painful
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08-05-2024, 04:13 PM
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#15 | | Old School RS
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| Quote:
Originally Posted by Badhobz Pretty damn bad. Luckily we pullled most of our capital out of stocks and into high rate interest savings when they were giving out gics for 4.5% on a one year. | So basically you are a ton worse off than if you had kept all your capital in stocks, even with this correction considered.
-Mark
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08-05-2024, 04:44 PM
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#16 | | Willing to sell body for a few minutes on RS
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Nah we sold our position in air Canada when it was 26 bucks. Made a killing cuz we bought it when it was 20 bucks.
Then threw it into gics due to fears of instability. I’m happy with the choices we made.
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08-05-2024, 06:27 PM
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#17 | | I *heart* Revscene.net very Muchie
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We're back baby! Financial crisis averted! https://x.com/gurgavin/status/1820633493711228968?s=61 Quote:
THE JAPANESE STOCK IS NOW UP ALMOST 11% TODAY
ITS ON TRACK FOR THE BEST DAY SINCE THE 2008/09 FINANCIAL CRISES
| Also there were clear signs this was coming 
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08-05-2024, 06:58 PM
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#18 | | My homepage has been set to RS
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I’m all up for a discount, I just wish I woke up at 6:30 lol
Last edited by RevYouUp; 08-05-2024 at 07:14 PM.
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08-06-2024, 02:35 PM
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#19 | | RS.net, helping ugly ppl have sex since 2001
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Bit of a nothing burger, over reaction. Couldn't even buy anything on sale today, it all trended back up.
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08-06-2024, 02:50 PM
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#20 | | My homepage has been set to RS
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Overall markets are still down 10% from a week ago if you think it is at the bottom now.
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08-06-2024, 03:32 PM
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#21 | | My homepage has been set to RS
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| Quote:
Originally Posted by whitev70r Bit of a nothing burger, over reaction. Couldn't even buy anything on sale today, it all trended back up. | Yea, it sucked so bad the Canadian market was closed on Monday
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08-07-2024, 08:15 AM
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#22 | | OMGWTFBBQ is a common word I say everyday
Join Date: Mar 2006 Location: Vancouver
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| Quote:
Originally Posted by whitev70r Bit of a nothing burger, over reaction. Couldn't even buy anything on sale today, it all trended back up. | At the time, it looked like it could have potentially been the start of something big, but alas it was just a blip  | |
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08-07-2024, 09:10 AM
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#23 | | RabidMod
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Dead cat bounce?
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08-08-2024, 10:02 AM
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#24 | | I contribute to threads in the offtopic forum
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A prudent investor invests consistently every month. If the market has a significant correction >5% market drop, and you have extra cash available, you can invest more that month.
It's nearly impossible to time the market over the long term, so don't bother.
It's also crazy that people think they can outperform the S&P 500 over the long term. Multi-billion dollar hedge funds can't outperform the S&P 500, yet the people who read motley fool think they can. If you're picking individual stocks, just don't be deluded into thinking you're going to outperform the market, that probability is low.
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08-08-2024, 10:05 AM
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#25 | | OMGWTFBBQ is a common word I say everyday
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| Quote:
Originally Posted by lowside67 So basically you are a ton worse off than if you had kept all your capital in stocks, even with this correction considered.
-Mark | Yeah up 11% YTD and 14% YOY. Gotten owned on GICs that I got for my mom, but I guess different risk/volatility for the seniors!
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