OK, look, I may be way wrong.But it sure looks like there will be no last-minute grand plan fiscal deal. The markets and economy might not take this very well.IMHO, we're being telegraphed a message:http://finance.yahoo.com/news/najarian-completely-everything...Am I the only one here considering taking everything off the table today?Alan
Am I the only one here considering taking everything off the table today?Probably not, but unlike Jon, most investors don't have the ability or the Cahonas to turn on a dime and re-invest money as quickly as he does as he monitors every tick of the market(s) 24 hours a day.Even if you were to avoid any sudden sell off in the market related to the "fiscal cliff" unless your smart enough to predict any sudden rally that might result from a resolution (which likely would occur with our markets closed) you may very well do yourself more harm than good. Especially if you are like a lot of investors, after shooting themselves in the foot, that wait, and wait, and wait, for a pullback that doesn't come.Question; do you know anyone who got scared out of the market during the crash of 2008 and is still not back in, or if they are, got back in at higher prices?Then there is the question as to how bad, over the long term, the fiscal cliff would actually be. Lets see, we have a long term debt problem. The fiscal cliff will raise revenue and reduce spending. Hmmm; how might that impact the market over the long term?I can't speak for anyone else, but in my case I always keep a high level of cash for when opportunities present themselves, if anything, I'm thinking the "fiscal cliff" may just end up being a opportunity for me.B
You are believing the part of the message which you are choosing to believe:Josh Brown of Fusion Analytics said that he had closed out his books for the year."We raised a little bit of cash, but we're nowhere near fully out of the market," he said.Not out.Rosecliff Capital's Mike Murphy was hedging his bets."We're sticking with our long positions," he said, adding that he put on protection. Not out.Joe Terranova of Virtus Investment Partners also wasn't adding to any positions, adding that his Apple (AAPL) holdings were half of what they were.The one area that still holds upside beyond the "fiscal cliff" was financials, Terranova said. Not out.Denny (not out) Schlesinger
I'm more inclined to this view:http://www.latimes.com/business/la-fi-fiscal-cliff-qa-201212...Even if no deal is reached, doomsday predictions are overblown, many say..."We're not overly concerned," said David Hefty, chief executive of Hefty Wealth Partners in Auburn, Ind. "The thing to keep in mind is that what hurts investors, what hurts the market, are things that are unexpected."He added: "Everybody has 2008 burned into their minds. They think the 'fiscal cliff' will be the next 2008 event. A 2008 event is when nobody sees it coming, and everyone is blindsided. Nobody's going to be blindsided by this."
I can't speak for anyone else, but in my case I always keep a high level of cash for when opportunities present themselves, if anything, I'm thinking the "fiscal cliff" may just end up being a opportunity for me.B been out of the market for a while now........the dollar will appreciate as we go over the cliff.......but the market is set to go down for a year or so.......just my bestest guess......I think we have seen the parts of the E wave....one....now two...and here comes three......to be followed more than likely by four and yes the huge opportunity five......then I go in.....Dave
Am I the only one here considering taking everything off the table today?Alan Aren't you glad you didn't?Denny Schlesinger
<< Aren't you glad you didn't? >>Sort of. At most, I would have missed a 2-3% move.The current vote on taxes was the easy stuff.But the bigger issue has merely been kicked down the road by 2-3 months. We still need to deal with the much more contentious entitlement reform and debt ceiling limits..........I'm not at all optimistic. Alan
Sort of. At most, I would have missed a 2-3% move. More if you reinvest the proceeds after deducting Uncle Sam's pound of flesh tax.Denny Schlesinger
Sort of. At most, I would have missed a 2-3% move.A 2% move on "everything" is a pretty big move don't you think? Considering the alternatives out there you are talking about giving up a year's return (with the alternatives) in the space of a couple days and you are still faced with the decision of what to do now.I'm not at all optimistic. LOL, given that optimists regularly get there face ripped off in the markets I'd say you are sitting pretty. :<)B
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Rat