https://www.democraticunderground.com/10142999878
... In total, investors have lost roughly $7.4 trillion, based on the 12-month drop in the Nasdaq.
... May I interest you in some tulips
A small sample of
my reply --
Very scary. Over past 10 years Vanguard's Info Technology Index grew just barely 5.570-fold
For a 18.7% average annualized total return (includes distributions through Friday's 11/25/22 close).
Over past 18 years: it grew 8.682 fold (12.8% annualized total return)
. . . I am a little bit sick and I am a little bit tired of investing in equities being equated to tulips or "the Wall Street Casino". Historically, innumerable studies and simulations have shown that one's chances of running out of money in retirement is much less for people with equities than those in pure "safe" fixed income investments. I choose not to gamble on a "safe" fixed-income only portfolio, no matter what the perma-bears say.
I was able to contribute far more to Democratic candidates because of investing in equities than I would have been in just "safe" investments. Had I done the latter, I would have been struggling to get by.
(the fund started 18 1/2 years ago and I wanted to pick whole years)
(I could have added that I was able to retire quite early and pursue my own research interests, but I didn't want to rub it in).
Actually, replying to "tulips" and "Wall Street Casino" posts isn't fun at all. It bothers me
a lot that blathering about tulips and "the Wall Street Casino, where the house has the edge" is a bug that has infected so many progressives. And thus end up with little more than Social Security to live on in their old age. And contributing $25 to Democratic campaigns when they could be donating $2,500. I consider shit posts like that as seriously harming my fellow progressives and I respond accordingly.
The thread was in LBN, which got locked (ahem, cough cough)
I went through the same thing
back in September in the Economy Group, and yes, with that person.
= new reply since forum marked as read