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Why have Republicans stopped bragging about the stock market?

Carnal_Flower said:
LOL

The Orange Genius is so incompetent. The markets wouldn't be responding so badly if he weren't such a fool. They're not only reacting to virus fears but to the total panic emanating from Trump. He's floundering, lying, pretending. He's totally incapable of conveying assurance. Hilarious since he has made the "stock market" his primary indicator of his "great economy." Dummy is making the whole situation worse.
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This is so true.

It just blows my mind that Trump and some of his followers on this thread immediately came up with bizarre conspiracy/blame theories rather than taking leadership and being straightforward about the reality of this being an international infectious disease situation. If they had done the latter, investors would be more confident that leadership is stable and an effective plan for minimizing social disruption is being developed.

I mean, this was clearly a case where telling the truth would have been so much easier and politically beneficial than panicking.
 
Adre said:
What DOW number causes Trump’s head to explode, 22,000?
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I think the correction becomes an official bear market somewhere between 23 and 24K. That would do it.

I think the odds are still against it getting that bad. The weekend is coming just in time.
 
Wrong Element said:
I think the correction becomes an official bear market somewhere between 23 and 24K. That would do it.

I think the odds are still against it getting that bad. The weekend is coming just in time.
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I think you're right.

Also Trump likely has made this worse by juicing the economy over the past few years. Not a lot he can do to try to slow things down now. The coronavirus impact is causing panic above and beyond what would normally occur, and is basically out of his control now.
 
Walmart is getting pummeled today. I guess their strong dependence on the Chinese supply chain has investors spooked.

Spent 2017-2019 around $100 a share, lept up to $120 in 2019 now appears to be deflating, went from $120 to $107 this week.
 
Pookie said:
I think you're right.

Also Trump likely has made this worse by juicing the economy over the past few years. Not a lot he can do to try to slow things down now. The coronavirus impact is causing panic above and beyond what would normally occur, and is basically out of his control now.
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Agreed.

I would add that the Market was already overinflated and a correction was due. However, the kind of drop we are seeing now is also indicative of a complete lack of faith in Trump and his administration.

Comments like the Coronavirus will go away on its own in warm weather and the gutting of our federal pandemic response teams are big factors as well.
 
Pence's first actions as Coronavirus Czar was to add the Secretary of the Treasury and the Chairman of the Federal Reserve to his task force.

Profits before people. :rolleyes:
 
RobDownSouth said:
Pence's first actions as Coronavirus Czar was to add the Secretary of the Treasury and the Chairman of the Federal Reserve to his task force.

Profits before people. :rolleyes:
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Was that before or after he went to his fundraiser?
 
Down over 900. Seems to be taking the afternoon dive now like the past week.
 
Never try to catch a falling knife. Good advise for working in the kitchen or playing in the market.
 

Reporter:
What will the stock market do, Mr. Morgan ?

J. P. Morgan:
It will fluctuate.

______________________


An excerpt from the 1987 Annual Report of Berkshire Hathaway Corporation.
© Warren E. Buffett, 1988.


"...Ben Graham, my friend and teacher, long ago described the mental attitude toward market fluctuations that I believe to be most conducive to investment success. He said that you should imagine market quotations as coming from a remarkably accommodating fellow named Mr. Market who is your partner in a private business. Without fail, Mr. Market appears daily and names a price at which he will either buy your interest or sell you his.

Even though the business that the two of you own may have economic characteristics that are stable, Mr. Market's quotations will be anything but. For, sad to say, the poor fellow has incurable emotional problems. At times he feels euphoric and can see only the favorable factors affecting the business. When in that mood, he names a very high buy-sell price because he fears that you will snap up his interest and rob him of imminent gains. At other times he is depressed and can see nothing but trouble ahead for both the business and the world. On these occasions he will name a very low price, since he is terrified that you will unload your interest on him.

Mr. Market has another endearing characteristic: He doesn't mind being ignored. If his quotation is uninteresting to you today, he will be back with a new one tomorrow. Transactions are strictly at your option. Under these conditions, the more manic-depressive his behavior, the better for you.

But, like Cinderella at the ball, you must heed one warning or everything will turn into pumpkins and mice: Mr. Market is there to serve you, not to guide you. It is his pocketbook, not his wisdom, that you will find useful. If he shows up some day in a particularly foolish mood, you are free to either ignore him or to take advantage of him, but it will be disastrous if you fall under his influence. Indeed, if you aren't certain that you understand and can value your business far better than Mr. Market, you don't belong in the game. As they say in poker, 'If you've been in the game 30 minutes and you don't know who the patsy is, you're the patsy.'...

...Following Ben's teachings, Charlie and I let our marketable equities tell us by their operating results - not by their daily, or even yearly, price quotations - whether our investments are successful. The market may ignore business success for a while, but eventually will confirm it. As Ben said: "In the short run, the market is a voting machine but in the long run it is a weighing machine.'..."​



​
 
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