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Wed Jun 10, 2020, 04:57 PM

Apparently we just needed a pandemic for the best stock market ever

NASDAQ broke 10k today on news of interest rates staying at 0 for years to come, and Tesla now has a bigger market cap than Toyota despite not making any money and selling like 1/50th of the cars. Peak irrational exuberance is here.

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Reply Apparently we just needed a pandemic for the best stock market ever (Original post)
Calculating Jun 2020 OP
NameAlreadyTaken Jun 2020 #1
Sherman A1 Jun 2020 #2
uponit7771 Jun 2020 #4
Hugin Jun 2020 #3
dawg Jun 2020 #5
PSPS Jun 2020 #6

Response to Calculating (Original post)

Wed Jun 10, 2020, 04:59 PM

1. Apparently Wall Street is all that matters, not Main Streeet

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Response to Calculating (Original post)

Wed Jun 10, 2020, 05:01 PM

2. The Dow was down 282 points today

So it is difficult to really see what point it is you are attempting to make.

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Response to Sherman A1 (Reply #2)

Wed Jun 10, 2020, 05:05 PM

4. DOW isn't the whole stock market and the indexes are near all time peaks while 2 yrs out economic

... outlook is unknown.

No, we're not going to have a safe vaccine in 6 months ... that's "conceivable" but unlikely

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Response to Calculating (Original post)

Wed Jun 10, 2020, 05:01 PM

3. It's a giant money laundry/casino.

The NASDAQ out performing any of the other indexes is the best indicator of mass speculation and also a total disconnect from any actual economic reality.

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Response to Calculating (Original post)

Wed Jun 10, 2020, 05:31 PM

5. I've been using this opportunity to raise cash.

I might end up buying back in even higher, but only if certain risk factors get taken off the table. Right now, the risk-reward just isn't there for me.

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Response to Calculating (Original post)

Wed Jun 10, 2020, 06:03 PM

6. Here's how it works...

Discount window is open to anyone now with zero interest. Free money! What to do? Belly up, take out billions, then use it for stock buy backs, thus driving up the market. As an added benefit, all those billionaire CEO's whose compensation is tied to the company's stock price end up raking in more billions! What a country!

Note: Most of the loans/grants tied to the $2 trillion covid relief bills that big corporations are getting is being used for the same thing -- stock buybacks.

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