Quote:
Originally Posted by Overboost
Even my clients with millions to spend on motorsports have taken a wood shed beating in the stock market.
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They should "only" be down about 10% ATM if their money managers are worth their salt. They could still be showing gains for the year. I'm up 15% (before I cashed out) on the small amount of funds (very small) I manage myself. Our 401k on the other hand is down, but that's to be expected as it generally follows the market. So about 10%
Now, if we don't get things moving again, and quickly. We could have another plummet and see it fall off a cliff again. That's why I got out with my small money. Figured it was better in the bank as I don't see another recovery check coming from Washington. Unemployment is great, if it ever gets to those who need it like Andrew. Texas must be doing a better job processing unemployment claims as both my sister and her husband are making more money not working than before.
But for people like my wife and I, we don't qualify. So the recovery money was a welcome case of giving money to everyone who pays into the system rather than just business/corporate bailouts. We wouldn't mind another round of that.
In any case, I hope everyone is able to get back to doing the work they have chosen to support their families. Humans are creatures of habit and I think we are happiest when we have a sense of normalcy and things we can depend on. Namely, ourselves.