I was just speaking to a local doctor who got burned in the market during the 2008 crisis. After losing 30% of his assets, he put his million dollar portfolio into bonds. But he didn’t just buy any sort of bond: he bought junk. He was telling me that “stocks were too risky” and that he needed to make “7% per year in bonds”, which I told him was “absurd” and that he was taking on more risk with that strategy than buying blue chipped stocks.
There is a great bubble in bonds. This man is “all in” on junk, ignoring principle drawdowns, providing dividends are paid.
There is a lot of panic in the bond markets these days. California munis dropped almost 4% today.
Look, I am a bull and want to own stocks. I am not shorting stocks because I believe the market can jump higher at any moment in time. I am a bull on housing, technology and finance. But timing is everything.
I will wait a little bit longer to make sure this isn’t a real full blown chinese sponsored melt down. If you bought stocks today, you just weren’t thinking about risk and may have to deal with the consequences tomorrow.
If you enjoy the content at iBankCoin, please follow us on Twitter
The Fly is God.
PMM punching my lights out. Where’s Bill Gross at?
Note- I am no longer Rob Carl the Great, as I have decimated all my earnings today.
Good luck to all of and you, and goodbye cruel world.
You’re beginning to grow on me lol.
LOL!
It must feel good to have trimmed your FRO before the heat wave.
we got The Fly whispering in one ear to go home & The Devil in the other to buy stocks
Well, you know who The Devil is, but unsure about me.
I am the light.
20 days since a post and Gold/Silver destroyed
JakeGint is dead
May he rest in peace
Jake, like DJ Jazzy Jeff, had his day in the sun.
He shall rise again.
Will pour some Pappy on the ground if he doesn’t.
http://www.youtube.com/watch?v=m7EFmC4tQ7I
terrific. Real music.
was great, thanks.
Awesome, played it while I was unclogging a toilet.
Set a great mood.Thanks for sharing.
i am home, safe in an unspecified bunker,with helmet on. i have statically placed food stuffs
and a large amount of toilet paper. OH WAIT, my moms calling ill get back to you guys later.
lol. Do you have a ham radio?
We should converse.
no, but im gonna get 1.
At home in my underground bunker.
Eyes peeled with a large pile of sandwiches.
FAZ mobile taking off. (not going for a ride.)
thats samiches
Fly,
Wanted to get your opinion on AAPL. Is it dead money or a buy at these levels? Thanks!
I SEE URINAL SHADOWS
Japan gone. China going. Just need Europe and bears are a movin
Then we can join if we haven’t started already
Any opinion on DEF?
Any ETF you can recommend?
All dips must be bought
Fuggit!
NUGT!
your failed your rehab again!
The best humor surfaces on down days, it’s funny stuff.
i was in the bunker, eating some ritz crackers, it was dark. i lit a candle, what i thought were sesame seeds, they were moving. they didnt tase bad, but it creap-ed me out a little cause i didnt look at the expiration date., i was relieved to see i still had 2 months til they expired. catastrophe averted.
Stand by.. for the fry.. I ain’t sayin the sell off is over…. However I suspect their will be Bear Balls on the spit shortly.. no pun
Le Fly is now in his innermost sanctum and wishes not to be disturbed except from the lad at the local deli delivering large roasted beef sandwiches.. however he mumbled this missive to me as he handed me $100 dollar tip.. yes.. AAPL is dead.. yet.. it shall rise again to new heights in the coming year..
USAC you don’t suck held fast lads
Whom else spit into the bears eye?
CMRE NICK HGTC PCC GBDC
check the divys boys
and when did PJP ever fail the LTP (long term port) ?
Written here a litany of what each “thinks” about issues and markets. My sublime naiveté is convinced the issue is defined by what we KNOW. What are the FACTS. For starters only, I believe facts support the future of our civilization will be dramatically affected by, stem cell and gene therapy, regenerative medicine, 3D printing, psychosis management, cloud refinements, etc. Show me the science that works and see the future $$$.
Dr,
I think Chinese are dumping US treasuries + emerging market bonds…
So many waited for so long for this bond bubble to burst and here it is… 30 year bull market os over.
Interesting times..
looking at booze stocks for my shopping list: DEO SAM TAP BEAM… all ideas welcome 🙂
I had $400K in 3 diff bond funds; high yield, tax free municipal, and intermediate term. I entered in late 2011. With dividends reinvested I was up $60K a month ago. I sold half then. With yields in the 3-5% range and prices in the last 2 weeks dropping 1-1.5% per day I exited the remainder a week ago when they dropped down to my cost basis. I, like millions of others, were using these funds as substitute savings accounts forced in by the Fed’s easy $$ policy and hunt for any yield whatsoever. I have no idea how far these funds will drop but the amount of $$ invested in them over the last few years is phenomenal and when people start seeing this loss of capital on a daily basis they get the f**k out in case it escalates.