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It's only beyond your control if you leave it out of sight and out of mind. The people that are selling and buying everyday on the stock market clearly don't think it's beyond their control. They are talking control.
Stocks are an asset. An asset has value. That value goes up and down. A loss is a loss. Period.
"Investors commonly justify poor investment decisions because of paper gains or losses. Consider these three examples
1. Although an investor officially recognizes a transaction when he or she sells the investment security, or covers a short position, many investors believe they haven't lost any money in a sinking investment because they haven't yet sold it. Even though there is no capital loss for tax purposes, there is still a loss in value. Keep in mind that a 25% loss in value on paper still requires a 33.3% gain on the remaining value just to break even. The odds that the investment will make money go down when paper losses mount"
We aren't done yet. I think before this recent round of selling ends we will hit the 2008 high. Another lost 10 years. Good news for you people that were regretting selling in 2008 and didn't buy back in. Your chance is probably coming up soon.
https://finance.yahoo.com/video/why-anthony-scaramucci-defensive-position-171721864.html
With all that said, there is nothing wrong about buy and hold if your time horizon is 30-40 years and you just don't want to think about it. When a young person asks me what to do, I often advise them to put money regularly in a SP500 index fund and then don't look at it for 40 years. I'm assuming that since they are asking that they have no interest in doing any better. With active trading, they can do better. But the SP500 is a decent way to go. It's "safe" as these things go. If the SP500 crashes, the economy is trashed anyways. It's annual return over the last 10 years is 11.04%. That's decent. Comparatively, the L2020 fund you are in had a 5.94% annual return.
I knew today would be bad. I was still shocked it was as bad as it was. We aren't done. I'm going into 2008 mode. I'm going to play the volatility. Sell the rips then buy back during the dips. Which in this decline, is the very next day.
I'm up all night changing diapers. What are you doing up all night?
Second, the market probably did need a bit of correction, but five years from now stocks will be well up from where they are now. Its not fun to watch this, so you don't watch it. Its like being in an airplane with lots of turbulence. You know the plan will eventually land safely as they most always do, but its not fun to experience.
My first bout of this kind of anxiety was the 2001 tech bubble, and since then learned things bounce back. I don't even look at my stock and 401K but feel assured that over t ime they will be fine.
In most cases, production hasn't moved. Many Chinese sourced goods are still sourced out of China. For a long time, companies absorbed the tariffs. Lately, they have been passing them on to the consumer. Some companies have moved, but many were moving their production out of China anyways. China isn't a cheap producer anymore. Other countries are cheaper.
It's simply not that easy to move production for a lot of things. It requires a tech base. A tech base that in today's world is uniquely Chinese.
https://www.cnbc.com/2020/03/05/coronavirus-apple-microsoft-google-look-to-move-production-away-from-china.html
The trade war could end tonight with a stroke of a pen.
"The trade war is the only thing we can get rid of easily."
I'm curious how this can be done "easily." Trade agreements are in place, but equally as important, manufacturing sources have shifted; plants have been shuttered and others built elsewhere. I.e., trade has substituted for in country manufacturing on extensive levels.
Production doesn't ramp up quickly w/o resources in place.
What are your thoughts on "getting rid" of a trade war "easily"?
I moved all my 401k funds to a guaranteed 5% return fund available through my former employer (I'm now retired.) I did that late last year when I kept hearing "recession coming." I have SS (taken at age 66,) a cost of living indexed pension from my former employer and I took an RMD from my 401k this year. So that provides enough for us to live on. Spouse will also have a pension and will take SS at age 70. We did buy LTC insurance for both of us about 10 years ago, so that helps if we need it. We also eliminated all debt.
I asked our financial advisor what to do in September 2008. He said ride it out. We are glad we did.