| Vancouver Off-Topic / Current Events The off-topic forum for Vancouver, funnies, non-auto centered discussions, WORK SAFE. While the rules are more relaxed here, there are still rules. Please refer to sticky thread in this forum. |
 | | 
08-05-2024, 07:38 AM
|
#1 | | OMGWTFBBQ is a common word I say everyday
Join Date: Mar 2006 Location: Vancouver
Posts: 5,116
Thanked 3,794 Times in 1,779 Posts
Failed 68 Times in 42 Posts
| 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.
| 
|  | |
08-05-2024, 07:42 AM
|
#2 | | I contribute to threads in the offtopic forum
Join Date: Jan 2002 Location: Vancouver
Posts: 2,604
Thanked 939 Times in 220 Posts
Failed 79 Times in 32 Posts
|
Rekt, all I can say.
__________________
You Can't Change What You Don't Acknowledge
| |
| | |
08-05-2024, 08:25 AM
|
#3 | | RS.net, helping ugly ppl have sex since 2001
Join Date: Nov 2002 Location: 604
Posts: 9,089
Thanked 5,182 Times in 2,493 Posts
Failed 306 Times in 149 Posts
|
Good day to buy ... except TSX is closed.
| 
| | |
08-05-2024, 08:33 AM
|
#4 | | Willing to sell body for a few minutes on RS
Join Date: Oct 2016 Location: Ricemond
Posts: 11,602
Thanked 13,409 Times in 4,888 Posts
Failed 520 Times in 277 Posts
|
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.
| |
| | |
08-05-2024, 09:14 AM
|
#5 | | HELP ME PLS!!!
Join Date: Apr 2014 Location: Van
Posts: 5,832
Thanked 2,420 Times in 1,305 Posts
Failed 232 Times in 140 Posts
|
Yea I want to buy but we closed, buy the dip
| |
| | |
08-05-2024, 09:49 AM
|
#6 | | OMGWTFBBQ is a common word I say everyday
Join Date: Dec 2008 Location: Richmond
Posts: 5,097
Thanked 2,886 Times in 986 Posts
Failed 221 Times in 82 Posts
|
Last Friday was the best fucking Friday to dump a load into wealth simple for that sweet bonus what a great decision I made
| |
| | |
08-05-2024, 10:55 AM
|
#7 | | y'all better put some respeck on my name
Join Date: Dec 2002 Location: Vancouver
Posts: 18,730
Thanked 9,992 Times in 2,610 Posts
Failed 394 Times in 160 Posts
|
In the last few months, there has been an unrealistic run-up in many tech stocks like NVDA, so a pullback was expected.
| |
| | |
08-05-2024, 11:38 AM
|
#8 | | in the butt
Join Date: Aug 2016
Posts: 3,124
Thanked 4,092 Times in 1,465 Posts
Failed 201 Times in 109 Posts
|
Bring on another 20-30% drop across the board
__________________ Quote:
Originally Posted by Mr.Money
i hate people who sound like they smoke meth then pretend like they matter.
Originally Posted by ilovebacon
Does anyone have a pair of 25 pounds one-inch hole for sale at a reasonable price?
Originally Posted by BIC_BAWS
God, women in their early 30s are so baadd lmfao
| | |
| | |
08-05-2024, 11:56 AM
|
#9 | | "They call me Bowser...RawR!"
Join Date: Jul 2001 Location: Vancouver
Posts: 8,285
Thanked 1,007 Times in 395 Posts
Failed 60 Times in 31 Posts
|
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.
__________________
"Damn fine car Dodge... Ran over me wife with a Dodge!", Zeke
| |
| | |
08-05-2024, 12:24 PM
|
#10 | | I have named my kids VIC and VLS
Join Date: Oct 2001
Posts: 39,235
Thanked 15,962 Times in 6,495 Posts
Failed 2,158 Times in 740 Posts
| 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
__________________
Dank memes cant melt steel beams
| |
| | |
08-05-2024, 01:38 PM
|
#11 | | I keep RS good
Join Date: May 2001 Location: Cosmos
Posts: 28,729
Thanked 5,594 Times in 1,522 Posts
Failed 875 Times in 298 Posts
|
This ain’t even close to a crash lol.
| |
| | |
08-05-2024, 03:08 PM
|
#12 | | I *heart* Revscene.net very Muchie
Join Date: Mar 2011 Location: Vancouver
Posts: 3,918
Thanked 4,221 Times in 1,720 Posts
Failed 84 Times in 42 Posts
|
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.
__________________
Current: 2019 Acura RDX
Gone: 2007 Acura TSX, 2008 Mazda 3 GT, 2003 Mazda Miata LS, 2008 Mazda Miata GT PRHT, 2003 Mazda Protege 5
| |
| | |
08-05-2024, 03:10 PM
|
#13 | | I keep RS good
Join Date: May 2001 Location: Cosmos
Posts: 28,729
Thanked 5,594 Times in 1,522 Posts
Failed 875 Times in 298 Posts
|
expect things to get more volatile in the next coming months. sept is usually the worst performing month and that's coming soon.
| |
| | |
08-05-2024, 04:10 PM
|
#14 | | 2013, 2016, 2017 & 2018 NHL Fantasy RS1 Champion
Join Date: Aug 2005 Location: Vancouver
Posts: 7,153
Thanked 1,324 Times in 617 Posts
Failed 65 Times in 37 Posts
|
Le painful
| |
| | |
08-05-2024, 04:13 PM
|
#15 | | Old School RS
Join Date: May 2004 Location: Port Moody
Posts: 4,633
Thanked 4,127 Times in 1,256 Posts
Failed 129 Times in 79 Posts
| 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
__________________
I'm old now - boring street cars and sweet race cars. | |
| | |
08-05-2024, 04:44 PM
|
#16 | | Willing to sell body for a few minutes on RS
Join Date: Oct 2016 Location: Ricemond
Posts: 11,602
Thanked 13,409 Times in 4,888 Posts
Failed 520 Times in 277 Posts
|
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.
| |
| | |
08-05-2024, 06:27 PM
|
#17 | | I *heart* Revscene.net very Muchie
Join Date: Mar 2011 Location: Vancouver
Posts: 3,918
Thanked 4,221 Times in 1,720 Posts
Failed 84 Times in 42 Posts
|
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 
__________________
Current: 2019 Acura RDX
Gone: 2007 Acura TSX, 2008 Mazda 3 GT, 2003 Mazda Miata LS, 2008 Mazda Miata GT PRHT, 2003 Mazda Protege 5
| |
| | |
08-05-2024, 06:58 PM
|
#18 | | My homepage has been set to RS
Join Date: Nov 2008 Location: vancouver
Posts: 2,432
Thanked 2,709 Times in 636 Posts
Failed 337 Times in 75 Posts
|
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.
| |
| | |
08-06-2024, 02:35 PM
|
#19 | | RS.net, helping ugly ppl have sex since 2001
Join Date: Nov 2002 Location: 604
Posts: 9,089
Thanked 5,182 Times in 2,493 Posts
Failed 306 Times in 149 Posts
|
Bit of a nothing burger, over reaction. Couldn't even buy anything on sale today, it all trended back up.
| |
| | |
08-06-2024, 02:50 PM
|
#20 | | My homepage has been set to RS
Join Date: Mar 2004 Location: East Van
Posts: 2,160
Thanked 854 Times in 422 Posts
Failed 22 Times in 18 Posts
|
Overall markets are still down 10% from a week ago if you think it is at the bottom now.
| |
| | |
08-06-2024, 03:32 PM
|
#21 | | My homepage has been set to RS
Join Date: Nov 2008 Location: vancouver
Posts: 2,432
Thanked 2,709 Times in 636 Posts
Failed 337 Times in 75 Posts
| 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
| |
| | |
08-07-2024, 08:15 AM
|
#22 | | OMGWTFBBQ is a common word I say everyday
Join Date: Mar 2006 Location: Vancouver
Posts: 5,116
Thanked 3,794 Times in 1,779 Posts
Failed 68 Times in 42 Posts
| 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  | |
| | |
08-07-2024, 09:10 AM
|
#23 | | RabidMod
Join Date: Aug 2003 Location: Toronto
Posts: 6,759
Thanked 1,959 Times in 723 Posts
Failed 115 Times in 35 Posts
|
Dead cat bounce?
__________________ Geriatric Motoring Club Member #37 Quote:
Originally Posted by EvoFire I need to be reliably within 10-15mins of a baked pork chops rice with lemon tea. | | |
| | |
08-08-2024, 10:02 AM
|
#24 | | I contribute to threads in the offtopic forum
Join Date: Jun 2013 Location: Burnaby
Posts: 2,592
Thanked 3,051 Times in 826 Posts
Failed 412 Times in 112 Posts
|
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.
| |
| | |
08-08-2024, 10:05 AM
|
#25 | | OMGWTFBBQ is a common word I say everyday
Join Date: Nov 2010 Location: /
Posts: 5,096
Thanked 2,803 Times in 1,094 Posts
Failed 256 Times in 73 Posts
| 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!
__________________
2022 Velo N
2005 S2000
2007 CSX Type-S [Sold]
2002 RSX-S [T-Boned]
| |
| | | |
Posting Rules
| You may not post new threads You may not post replies You may not post attachments You may not edit your posts
HTML code is Off
| | |
All times are GMT -8. The time now is 06:19 AM.
|
You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today!
The banners on the left side and below do not show for registered users!
