Quote:
Originally Posted by rsmurano
The famous line 1.5 years ago: even a 12 year old could have seen this downturn coming. I sold out most everything 1/1/2022 and got back into oil fund last year for a few months, money market fund that pays over 5%, got into apple late last year and got out a couple months ago, in a tech index fund, and bought into an AI company. Most of our money is in 5.x% money market.
IMO, we are heading for a crash, just as big as 2007/2008. Consumer debt, China downturn, insolvent banks, only 7 stocks supporting the whole market, federal reserve is clueless, corrupt administration.
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Got out of Apple too early +/- $190 now. 2007/2008 was an anomaly due to the crazy bank financing. Not optimist about the situation but it will not be like Covid onset. Corrupt administration and fed reserve is clueless? Recall someone with the initials ending with a T chose him. On bright side a lot of seniors can not complain about low returns from banks. They were the most vocal about low bank interest rates.