It's A Bloodbath!
By Jim Bauer
@porwest (112876)
United States
May 9, 2022 5:37pm CST
It's brutal.
I am losing, on paper, thousands of dollars per day as the markets plummet. Worse, my Rivian stock took a massive crap today too after Ford finalized its deal to sell off 8 million of its 102 million shares which closed on Sunday with their underwriters.
In fact, my Rivian investment is down 66%. It's brutal.
Plus, money is pouring out of me like a sieve as it usually does this time of year. All the summer fun stuff you know and this year's budget has turned out to be exceptionally high.
But I am staying the course. I have been here before. Many times. And I always come out ahead. WAY ahead.
But it's brutal, I'm telling you. In the meantime it's brutal. It's a bloodbath and I am covered in it. I am being gutted alive.
Thank GOD I know what I am doing. lol
12 people like this
12 responses
@porwest (112876)
• United States
11 May 22
I am tightening my belt a bit. cancelled my TV service, as I realized I never watch TV any more. Comcast sneaking my rates up again was the last straw.
@TheHorse I have been wanting to cancel cable forever. I have U-Verse currently and I experience the same thing. The rates just keep going up. I watch hardly any TV at all, but my wife has it on constantly.
1 person likes this
@RasmaSandra (98033)
• Daytona Beach, Florida
10 May 22
I wish you all the best, I can tell you I would rather fight with my overdrafts and other problems than face what you are facing particularly when I know nothing about the stock market,
2 people like this
@RasmaSandra (98033)
• Daytona Beach, Florida
10 May 22
@TheHorse my mom invested some in Mutual Funds like Dreyfus and she had a broker consult her that money came very much in handy after she passed on in Latvia. It was not very much but enough to help us for some years,
2 people like this
@TheHorse (238325)
• Walnut Creek, California
10 May 22
@RasmaSandra I'm glad it helped you out. I think have enough saved up to last me a few years, but I am along way from retirement.
2 people like this
@moffittjc (128837)
• Gainesville, Florida
11 May 22
I'm with you on that! It's depressing seeing all our wealth fly right out the window! But, fortunately, it's only a paper loss at this point. Had I needed to cash in any of those investments, I'd really be in big trouble. But I'm not panicking. It's gut-wrenching to see the markets doing what they're doing right now, but like you said we must stay the course. And, like you, I've always come out way ahead after the market corrections. People like you and I know what we're doing, so we can still rest easy at night knowing that this will all benefit us in the long run.
1 person likes this
@moffittjc (128837)
• Gainesville, Florida
12 May 22
@porwest I increase my investments in times of market meltdowns. Gobble up those good stocks while the price is taking a beating!
1 person likes this
@porwest (112876)
• United States
12 May 22
@moffittjc Me too. I am buying like gangbusters right now.
1 person likes this
@porwest (112876)
• United States
11 May 22
Well, of course, as the old saying goes; cash is for cash. In other words, I always keep enough cash on the sidelines for emergencies, immediate needs, and the ability to buy into dips and take advantage of opportunities.
Is that actually an old saying though? lol
Yeah, paper losses are awful to look at. But when you know you have the right companies and have made the wisest investment decisions you know to make, you can still find a silver lining. Or that's what I tell myself.
Yep. The most money I have ever made is when the markets are in crisis mode. Go figure.
1 person likes this
@porwest (112876)
• United States
10 May 22
I am glad you know what you are doing, I would feel lost.
@nela13 One is only ever lost if they do not know where they are and can't locate a map. lol. The stock market can present challenges, but that's part of the fun of it. On top of that there are many ways to still make money regardless of what direction the markets ultimately go. But of course ultimately the markets only have one direction.
Up.
@dgobucks226 (37621)
•
15 May 22
Well, over the long term they say stock markets always bounce back. Although I think things will get much worse before they get better. Let's hope those in power eventually get a reality check and change policies although I doubt it. In the meantime, sit on your cash and wait for the bottom which will eventually come, and then put that cash to work!
1 person likes this
@dgobucks226 (37621)
•
20 May 22
@porwest Many analysists are now predicting a 30 percent drop in the S&P 500. Look for it to reach 3,500 around pre-pandemic highs. 
1 person likes this
@porwest (112876)
• United States
22 May 22
@dgobucks226 Unfortunately that prediction seems to what will happen. Still presents more opportunity long term even if it also provides for short term pain.
1 person likes this
@kaylachan (84815)
• Daytona Beach, Florida
10 May 22
I amigine it can't be easy with the market going up and down. At least you understand it and its pitfalls.
1 person likes this
@LindaOHio (222534)
• United States
10 May 22
Just stay the course and be patient You know it will turn around.
1 person likes this
@yoalldudes (35028)
• Philippines
11 May 22
Remember the MArch 2020 start of pandemic crash that was brutal. I saw a major holding company fro 1,200pesos to 400. But then it bounced back eventually.
1 person likes this
@porwest (112876)
• United States
11 May 22
That's the thing about the stock market. It always comes back and comes back higher. That has been true since the beginning of time which always makes me curious about the panic selling that happens all the time. Especially by seasoned investors.
