This Is EXACTLY Why We Tell People NOT To Buy Individual Stocks!
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I stopped listening and taking stock recommendations from these CZcamsrs, because at the end of the day, I end up with a bunch of confusing stocks without knowing when to take profit, so you see Iâm often in the red.
Yes, buying is one thing and knowing when to sell is another, thatâs why I do my own stock valuation.
Iâm a contractor, and my job doesnât permit me the time to properly analyze my holdings/evaluate stocks myself, so Iâve had a fiduciary actively restructuring my portfolio for the past 7 years now to match the present market condition and thatâs how Iâve been able to stay afloat, knowing when to buy and sellâŠmaybe you should do the same.
The advisor that guides me is Sonya lee Mitchell, most likely the internet is where to find her basic info, just search her name, She's established.
Selling well know stocks that WILL Rebound while they're down 50% is a horrible idea. Dave would NEVER say that about Mutual Funds. Just keep the money where it is and invest in Index funds going forward. Alibaba and Netflix WILL rebound over time.
Agreed.
Not will, "probably". That's why index funds are better
Baba will Netflix is done.
netflix is finished
@@famicomnintendoNetflix went woke trying to produce their original content. Basically they have to compete against everyone else now, but their new content is terrible. There is no growth there.
His fault wasn't him investing in individual stocks, but investing the money he needs in the near future.
Yup this is the issue.
Dude had 35k cash in a savings account Ramsey is a jackass for this advice
Exactly
What happened to the advice "no one gets hurt on a roller coaster unless you get off in the middle of the ride?"
The loss is only on paper. Wouldn't it be more prudent to wait for it to come back up before cashing out?
Correct.
The only way this should not be followed is if the investment is trash.
Now it would be a good to switch and buy low something else
because this isn't a roller coaster, it's a plane with both engines on fire. time to bail out.
Yes, yes and yes.
If he's OK waiting until 2030....
Yes
I disagree with Dave on this one! Selling stocks right now at a guaranteed loss is an absolute no go!
Absolutely. Dave is talking out of both sides of his mouth. Mutual funds are down too, but he is telling people not to sell them bc you don't lose until you sell.
Warren Buffett also said you don't realize losses on stocks until you still them. So if they are ok companies, he should just wait and not pull the IRA funds out with a tax penalty. Just stop funding the IRA and save separately for the car.
It depends on what the new opportunity would be. Say, selling one stock for another stock - where the other stock has a better outlook than the other.
@@bradleymaravalli2851 correct.
But thats not what he's saying.
Now is a great time to switch from a bad investment to a better one
@@Corn_Pops_Rusty_Razor yeah I was going to say the same thing. he tells ppl not to sell the index funds but sell individual stocks at a loss? so stupid... losing respect for dave which sucks b/c he seems otherwise the voice of reason...
Investing in individual stocks is totally fine if you are investing long term (5-10 years) in companies you believe and RESEARCH A LOT in
you can do the same with mutual funds and they are less on the risk scale
@@insideoutsideupsidedown2218 mutual funds are very expensive in the long run but agreed. If you are saving to purchase something like a vehicle I would park it in an ETF for sure
I agree absolutely. Nothing wrong with a balanced investment in single stocks. Just ensure you're diversified
@@mchmer5349 expensive? They are so many that are free or have .001% fees, thatâs not expensive
@@insideoutsideupsidedown2218 not exactly, we are talking about ~2x return in few years vs 20-100x return in few years. But buying grow stock, without looking at risk of competitors and how much TAM is left, is stupid. P/E is most important, but for grow stocks is future P/E you betting, so "oh I like them, and many investing in them" is not good investing strategy. And one more thing, never invest in individual stocks when you are planing to use this money in few years, this is not place for them.
The problem is not that the caller invested in individual stocks. The problem is that he invested in individual stocks with money that he should not have invested. The money he needed to buy the van should have never been put in stocks in the first place.
I know he did wrong but telling him to sell right now is the worst advice ever. Dude needs to wait.
No, it's just him getting financially beaten up more. Cut the losses and do it over correctly.
Great idea, hold onto an individual loser stock. Enjoy being poor
When the boat is sinking, you get off, not ride it to the bottom.
â@@alinatamashevich3354it likely will rise up
@@MaNarchicDRAKE those stocks actually quadrupled a year later
If he was buying index funds around the top, he would still be down today
Precisely. Just not as much. Dave is kind of silly. But for the layman, maybe itâs healthier this way.
Not as much though
He would be down significantly still. Would be getting his ask kicked like everyone else
@@rogerwellington8829 didnt the guy says he is investing in retiremet and that the stocks are just extra money
The mistake was not the stock. The mistake was riskimg dollars he needed for a car.
This would have been a mistake had he bought real estate, 401ks or paid off his mortgage.
You don't risk or sink dollars if you know that in the horizon a big expense is coming (replacing the roof, children, car replacements, etc)
investing requires good experience and knowledge to carry out a good and successful trade, I have lost a lot trying to trade all by myself May I ask which investments are good??>>>>>>
I understand your concerns, my friend. I recommend exploring passive index fund investing and expanding your knowledge in this area. Personally, I experienced both successes and challenges when initially seeking a reliable passive income......,,.,.,.,.
how do I get in touch with this consultant that assist??>>>>
STEPHANIE KOPP MEEKS, that's whom i work with look her
Thanks for these recommendations.....,,,
Iâm interested in investing in alternative assets but not sure how lucrative. I'd appreciate insights on their risks and potential rewards anyone.
I have a little bit of fear as markets are getting a bit too excited, you're better off seeking guidance from a license advisor
Agreed, experts know when to be fearful when everyone else is greedy and vice versa. I used to handle investing myself but faced losses in 2020, thus consulted an advisor at once and as of today, I'm about 10% shy of a million dollar after subsequent investments.
that's impressive ! I could really use the expertise of your mentor . who is the person guiding you please?
Personally, I get guidance from Nicole Desiree Simon, her qualifications speak for itself and most likely, the internet should have her basic info.
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing.
Sometimes I think DAVE wants his listeners to do something really stupid (like sell stocks right now) just to punish them for making a decision outside his program. That they deserve to loose money because they didn't follow his advice. There are a lot of times I think Dave is spot on, then there are times like this when I think he's an idiot. No matter who you follow for financial advice never never "drink all the Kool-Aid".
I don't necessarily agree. I think Dave knows there are plenty of other ways to make money (single stocks included), but he tried to teach the highest probability for the AVERAGE person to become wealthy. There are countless individuals who do not do Dave's exact plan and are still wealthy. Just keep in mind thay his advice is always for the average person who is typically not great with money.
I have individual stocks in a Robinhood account
Thank you for articulating that, I agree with you đŻ
You a millionaire? Shut up you clearly donât have the knowledge to be one so donât give advice
Dave is selling a program that he can not deviate from in anyway or else he invalidates it. Thatâs why heâs so ridged. In this case itâs very bad advice.
Why sell and not just hold on and build up more cash to replace vehicles and then invest in index funds? I canât see why you would just willingly put the nail in the coffin on a portfolio by selling it when itâs down 50%
nuts isnt it
His portfolio sucks!! It's time to invest in smart things, like mutual funds.
This is BY FAR some of the worst advice Dave has ever given! Until the investor sells he didnât lose a dime. So not only will he realize the huge loss but double down and put it into âTHEâ biggest loser of investment aka a vehicle. Maybe Dave hates this caller and personally has a vendetta against him⊠then again Dave tells God what he does and doesnât deserve at the start of every callâŠđ€Šââïž
@@MakerBees333 torn on this one. I do get what Dave is saying - if it was a bad decision then, itâs a bad decision now. Agree also that individual stocks are a loserâs game for most unless extremely disciplined, have a sizeable portfolio, and do not use margin at all. That said, man taking the loss fully seems extreme. You have to look at the stock. Is apple đ never going higher than todayâs close - doubtful. Funds too are getting torched - own plenty of voo, vym, schd, vti. Bad bad bad
Because he didnât truly understand why he bought it.
Would love to see more information concerning Daveâs mutual funds that he keeps hyping up even in these dark days.
The sun is shining again!
Dave always says the only ones that get hurt during a rollercoaster ride are the ones that jump off yet he is telling this guy to jump off
Crazy.
I can't believe he is telling this guy to sell stocks right now! Those of us with mutual funds handled through excellent advisors are also getting our butts kicked right now but holding out for a hopeful recovery!
You're right, Misti! He probably wouldn't say this if it was mutual funds.
A profound reason why you should NEVER listen to Dave when it comes to investing. Heâs good at getting people out of debt but his investing advice is foolish to say the least.
What did he say wrong
@@TheAwhi to sell! Hold not sell!
@@bryantc1701 heâs telling you to sell so a potentially foolish investment doesnât weigh in on your head
The companies the caller listed will all recover. He didn't have bad investments and would be a fool to cash out at such a loss.
@@ctconstrictors5193 thatâs subjective. Thatâs your guess, even if you may be right. In reality we donât know. As a general principle, some bad investments are just better off sold just to keep your mind at peace
Nothing is wrong with signal stocks. Stock go up and down all thee time.
He can just save up some money for a car. He doesn't need to sell anything.
Agreed
@@THAOpeacockcichlids Agreed as well.
Single
I invest in smoke signals
@Natural Healing Methods Yes, they go green most of the time!
I buy single stocks that pays dividends. I'm at a passive 20 bucks monthly which is amazing but I'm slowly building more.
Exactly. This guy just didn't know what stocks to buy and when to buy them.
Same. Dividend paying stocks with good balance sheets and long term growth or sustainability works totally fine. Buying this dip HEAVY!
I'm at $15 a month with my dividend stocks. Working my way to $20 and beyond.
WOW, $20 a month? You will be a millionaire...probably never lol.
@@martinramirezmi5457 lol probably not, but who knows? I just started. My goal in time is to get to $100 a month passively and go from there.
Dave was into get rich quick activities .
I invested in individual stocks years ago as low as $3 starting with companies like Exxon and Walmart in the 80s. Now I have over 30 stocks in my portfolios long term that are mostly oil/gas,REITs,tech,and Dividend Achievers. Prefer ETFS over mutual funds.
Already have the cash for my next used car, home remodel,travel,etc.
Cash for recessions and whatnot,large emergency fund,and zero debt.
Oil and gas ftw
@@weswest8666 Most people don't get that lucky.
BWT here here rock on.
For every story like this, there are prob 100s of ppl who lose money trying to do what you did.
You made your own mutual fund. Haha
Dave is sitting there acting like index funds haven't been down as well smh everything is down Dave nothing is exempt
Lol.
That's not true, gas is up.
@@wkdravenna true lol
yup. in fact only a handful of my individual stocks aren't down... novo nordisk, tesla, merck and pfizer. everything else is down. I am starting to really lose respect for Dave. telling someone to sell a stock when it's down is crazy. he would never say that about a mutual fund. ridiculous.
Facts
Imagine owning a 10-year old Minivan in 2032 and looking at the price of Meta and Baba stock...
He's kicking himself for selling the Meta already, if he did.
Meta?
Sorry, Facebook already blows.
Not sure what weird ideas Meta is going to try to implement but I'm not excited about any of them.
Have fun with your speculating. đđ
Do Dave know what I bonds are? Why would he tell the man to cash out I bonds or say it's a dumb investment when it's giving 9.62% guaranteedđ€ŠđŸââïž
no such thing as guaranteed.
Yeah, I don't get that either.
He doesnât know lol. Also physically canât cash them out for a year
If I maxed out the $10k already this year, do I have to wait a full 365 days to purchase my next $10k in ibonds, or can I do so on January 1st (the first day of the next calendar year)?
Daveâs investment advice is unwise, thatâs why
You just need more cash. Because now you could keep buying these dips of major companies that will be around when the dust clears. The only mistake he made was thinking he had enough dry powder to go individual stock fishing. But âsell it all at a lowâ is stupid advice.
He also made the mistake of investing money he was saving for a car
This all just shows you how easy it is to win when you have a lot of money at your disposal. Can just keep buying the dips without any need to worry about quick returns as you are rich enough to have the patience to wait. For everyone else.....it requires a more disciplined approach.
@@bartlemi5 agreed on that point
@@bartlemi5 he has it in an IRA. You'd have to be patient anyways if it's supposed to be for retirement.
Buy high, sell low. Not the brightest idea Dave.
Hold future purchase on individual stock. Watch them carefully. Start investing in more diversified mutual funds or ETFs.
His boat is sinking
Part of the problem was the caller invested in single stocks for a short term investment. Now he needs the money and the stock is in a low period.
buy high sell low dave Ramsey logic đ€Łđ€Łđđđ€Łđ€Ł
Its Givin Crim Jamer Vibes đ
Suggesting him to sell his stock now is like telling him to jump off the rollercoaster which is terrible advice. The individual stocks he has are amazing companies that will regain value but it is impossible to know when they will regain their value.
it's not a roller coaster he is on, it is a 2 prop plane with both engines on fire. Time to bail out.
The roller-coaster theory applies to a diversified portfolio that is more resistant to loss over the long term. He has his eggs all in one basket. He's better off moving that money into a better investment.
Only Ramsey preaches his way. If this guy had mutual funds and they were down would he preach he sell.
Sunk cost fallacy
The individual stocks he has are on fire and those companies are going to be forgotten in a few years. The tech sector as a whole will certainly recover, but if he was trying to pick the winners he accidentally picked the losers.
thanks for sharing. one of the best videos I have watched today.-
Or just buy more stock đ
ETFs > Mutual funds.
@@thegreatgatsby9583 only in taxable account
@@thegreatgatsby9583 what about index fund?
Ideally, it's not a great idea to have a bulk of your funds in single stocks. Even if you buy different individual stocks, you aren't really diversified.
Index funds would have been better (less risk, but less volatility), especially for the situation the caller is in.
Single stocks, ideally, should be a small part of your investments. Why? Cause when they fall, they REALLY fall.
Also, Series I bonds should NEVER be considered an investment vehicle, but rather a (slightly less liquid) savings vehicle that offers some protection from inflation.
@@glowiever ETFs >Index funds >Mutural funds imo
One of the best things I did was try to buy and sell single stocks with $500 just to see how good I was at it. I acted like it was $50000. I now only invest in mutual funds.
Lol
If the company doesnât have debt, has a 4-6% dividend and has an actual profit every year, then buy more.
Exactly this guy probably bought Netflix at the top
@SavageInvestor I have the feeling he rid buy at the top, but how does this advice help him?
I think he should sell them just because he doesn't understand business in general or the business of investing. He's about to lose his shirt for lack of understanding.
Dave couple of episodes before this one: âYou donât lose until you sell.â
Also Dave: âsell them nowâ
Make it make sense please because everything is down smh
Everything isnât down oil is up, gas is up, and etc. you have to do hard research
Heâs def Pushing a narrative
Dave is old . The right move would be to buy dip and average down On your losing stocks.
@@michaelbhim7585 agreed
đđđ
Dude dave is acting like his miracle mutual funds aren't down right now. Gimme a break.
Simple answer Cole.
Which strategy makes sense in the long-term?
Buying individual stocks is not a good long-term strategy.
He's always quoting Warren Buffet, but yet he doesn't believe in buying single stocks!?
I Bonds are definitely not a dumb investment.
Especially right now... making 7-9%...
@@jake-mv5oi yes but limited to $10k per year per person.
â@@MrMustangrick If I maxed out the $10k already this year, do I have to wait a full 365 days to purchase my next $10k in ibonds, or can I do so on January 1st (the first day of the next calendar year)?
@@Chris-kq3ix Jan 1st. It's based on the calendar year.
You may also be able to buy up to another $5K worth if you get a tax refund.
@@JeanValjean875 Thank you!
Why do people get rod of vehicles when they get over 100k miles?
Oh yeah, cause they don't maintain them. This is the reason weary on buying excessively used vehicles
Warren Buffet said Buy when everybody is selling. That is the time we are in now. Selling now is a bad advice in my opinion and have to disagree with Mr.Ramsey on this!
Facts! Buying heavy heavy right now for rest of the year!
@@calvinblack9459 Yes Sir!
He probably meant get out of those ridiculous individual stocks and buy mutual funds like an intelligent human being.
Well my fund which is comprised of individual stocks is down as well. So...what does that mean?
I don't understand why you are telling him to cash out when the stocks are lowđ€
Thatâs the stupidest advice ever from Dave⊠you only lose when you sell. Right now is called a âdipâ take advantage đ
@@harrykam28 I am surprised. Dave says many times to hold thru the lows and the loss only happens if you sell. So I don't know what happened here. I hope they explain why they gave this advice to sell and get out.
I needed this
Dave is good at getting people out of debt with basic advice, but his investing advice is absolutely terrible.
My dad was convinced the Iraq money would be revalued as well. And all of what they bought is still in a safe somewhere waiting for that to happen. They even "invested" in some for all us kids and I had to talk to my husband before we got married. It went something like "if this ever happens we will come into some money (but I doubt it will)."
I Bonds arenât a dumb investment. And selling stocks at a loss is pretty dumb too.
I would only sell at a loss for tax harvesting but I agree with you
If I maxed out the $10k in ibonds already this year, do I have to wait a full 365 days to purchase my next $10k, or can I do so on January 1st (the first day of the next calendar year)?
@@Chris-kq3ix you can buy 10k in a year (more if you use your tax return money)
My sisters bossâs BF (when she was in high school working at a daycare) tried to get all of them into the iraqi currency thing too. I thought stupid was concentrated in certain areas only
Hyperinflation is about to take a turn for the worse.
In general Stocks go up in the long run. If you are a long term investor you will be fine.
Depends on the stock tho. This is why Dave and most investment experts emphasize diversification.
I would diversify my stock even more lol
Lol the moment the caller said âbutâ
Hold your single stocks, do not sell low. If you believe in the company, buy more, itâs on sale.
Here comes this video as I watch Amazon waiting for it to crash more so I can buy đđ. I just need to stick to my SP500 index fund.
What happened to "The only one who gets hurt on a roller coaster is those who jump off in the middle of it". I would keep the stocks, hold on to the cars and start saving like crazy to replace one of them.
Your opinion on Tim Sykes for penny stock investing?
Raising my hand as an Iraqi Dinar investor (because all of my "smart" friends were doing it) - uh...yeahhhh - that was a $1000 loss.
Alright, I bought the dinar thing. Sounded crazy at first but I did enough research to convince myself to put in $200. I'm so dumb I thought I was "diversifying" because my job offered a 401k.
Sell them? What on earth is Dave saying, unless he has a large amount with Peloton, he should hold. He said he invested in companies like Netflix, why not hold and potentially make his money back and then some.
That may be because at 6:15 caller asked if he should use emergency fund or sell stocks for buying car
What mutual funds do y'all recommend? My mutual funds are all down.
I respectively disagree Dave.He both high quality stock at a bad time and high valuation. His loss will be confirmed only if he sell. I recommend for him to actually be patient for a rebound before he sell, or buy even more to average down (Only because those are good companies and they have tremendous cash flow).
Well said Rachel. Honda is on Fire right now! Their fuel efficiency if the brand new 2022 Super Cub is 188 mpg. The cars are some of the most fuel efficient on the road and have POWER to go with it.
Bought a minimum of Disney stocks. Bought cheap but wasn't wise to sell when they were almost $200 each. Now I have no choice but to keep them. Any advice? Thx.
MY grandma bought the dinari, you reminded me to ask her how thats going!!đ€Łđ€Ł
Do we sell stocks now, buy mutual funds today? Etfs? I mean mutual funds are down also, right?
Don't sell the stocks dude lol. You are going to regret it. Trust me. I know from experience.
I honestly don't see the problem with buying some blue chips, particularly if its in a company that an index fund you also have has invested in.
Wait until Dave finds out indexâs are made up of single stocks
Dave's point is an index is diversified: protects you from losses in individual stocks but 'protects' you from massive potential gains too. Cuts both ways.
@@stevenporter863 itâs a joke buddy
@@thatguy4026 My point was Dave doesn't mention the second part. Lol.
the only time I would sell when it's down is if I was planning on buying it back when it went even lower and get more shares you have to be careful though it doesn't start going back up so it's risky as most single stocks are but selling outright and not repurchasing is just accepting defeat and taking a loss and I think that's ridiculous if you don't need the money just hold it it will go back up eventually unless it's a company that's in trouble but it doesn't sound like he's picking ones that are risky
Not only that, you get to show the loss at tax time...
If you're under 40-45 definitely throw all your money in a fund a forget about it. If closer to retirement you might get more conservative, fixed income etc. You generally won't beat the market, and won't be able to time it. If you have a full time job and family you probably won't have the time to do the necessary research, and even then you'll still probably have bad returns. You'll just waste a'lot of time and have many sleepless nights. For this caller these stocks were sooo beaten up at the time, and the companies were pretty established one would've had odds in their favor in waiting for a rebound.
It's so hard to simply DCA in VT.
4:36 - Dave says "Cash out the I-bonds" I wonder if Dave knows what I-bonds are?
Quick question for you: If I maxed out the $10k already this year, do I have to wait a full 365 days to purchase my next $10k in ibonds, or can I do so on January 1st (the first day of the next calendar year)?
@@Chris-kq3ix first business day of 2023 you can buy again. If married you may consider buying a gift bond for your spouse and vice versa. Several good videos on CZcams about that.
I was thinking about selling my condo which is a rental. I was going to put $100,000 in one certain Stock. But I have a 401-k and some stocks are in Dow, Nasdaq, and S&P. I have lost some and gain some. I had for 24 years now, and I am so glad it has more gain than losses. I have friends that told me to put in Bitcoin or Disney and now they are out of those stocks. I am glad that you guys help make a decision owning one stock which I will not do.
Maybe I didn't hear everything. He has Series I Bonds? That's not a dumb investment. In fact, that's probably safest investment you can make right now.
With a heavy heart i should mention say âWhat a stupid adviceâ
Coming here 1 year later. FB went from 175 to 475. An index fund like S&P 500 returns are largely made up of a few big companies like FB. Hopefully this guy didnt cash out
I'd just keep the stocks and save up for the car (stop investing for a while). He picked decent companies. Investing is definitely scary these days, but what if those companies rebound over the next couple years?
What if they donât lol
I think the bigger problem is that he has invested money that he needs to be liquid in the short term. Being poorly diversified is also an issue. It's all tech stocks, which is also an issue since they're correlated with each other. He's trying to do too much at once and not getting anywhere.
Good thing this caller is following the total money makeover, lol
What is this advice đ sell at a low during a recession only because Dave doesnât like single stocks
I know 160k miles may creep up on you over several years, but itâs not an emergency that you raid your emergency fund for. Itâs a budgeted expense that he should have saw coming 100k miles ago
I am 2:15 in the video right now. I'd say pay for the van out of emergency fund and replenish the emergency fund as quickly as possible. And wait for the individual stocks to bounce back,sell them, and put them in mutual funds. Also personally I don't think single stocks are bad as long as it is done after you put 15% in mutual funds.
Sell?!!!!!!!!!!!!!!!!!!!!!! WOW wonderful advice Dave
He's right, far better to buy the index such as VGRO or VTI. DCA each month and forget about it. Individual stock purchases take way too much time.
Put a stop loss on your single stocks once you're done buying shares. So many order types to avoid big loses.
I bonds and individual stocks are not bad investments, but using investments as a savings account for money you may need within the next few months is a really dumb idea.
I bonds are more of a quirk right now than anything. Historically they had low returns
You guaranteed to lose if you sell at a loss
Don't jump off the roller coaster, the down part of the ride is the most fun.
I would do value averaging on those stocks.
If your buying good cash flowing low debt companies with large moats and shareholder friendly who have good dividend growth rates itâs okay to buy single stocks. I only buy dividend stocks since I plan to retire early. Etfs like voo are nice but the dividend growth rate lags
Why not buy stocks that are going to grow now and switch to dividend stocks when you retire?
@@superblump87 so Iâm 30 and I want to achieve Fire by 37-38. I am buying mostly dividend (Growth) stocks. So a mix of income and growth. My VOO and VT position basically have all the growth stocks in them anyway
@ SavageInvestor I've taken your advice and just bought some stock in Crown Castle? I'm guessing they would have large moats?
This is absolutely wrong. You donât become diversified overnight, but thatâs why you do your research. This is BUY AND HOLD, not day trading. The guy he mentioned, Buffett does this very thing.
Love my Honda still have my 2000 one
âGood futuresâ is NOT Netflix stock.
Only buy individual stocks if you know what you're doing! The price you pay matters! It is not an index fund. You aee an owner of a business. Know what you are buying and for how much.
Personally, I donât agree with Dave telling this guy to sell these stocks at all. If anything he should be dollar cost averaging into those positions if he truly believes in the companies. However, he should not have been buying stocks with money he was trying to save for a car. The volatility is way to risky, especially for the short term.
how do I call the show?
You gotta be a fool to cash out when youâre down
Iâm trying to plan for my retirement(I have none) and I understand that a recession is where many people make money, Someone I listened to on a podcast made a profit of $150k in less than a month. I'd appreciate any tips.
You may need to get some professional advice from an Investment planner if you need an aggressive return.
@Hillary You really do sound as though it's that easy.
This is a bs answer. Mutual funds and index funds are all down up to 40%. Keep your money in the stocks and save seperately for your car. Donât sell at a loss?!
What are you talking about? Most index funds are only down 20% YTD, which is basically the price back in Jan 2021.
Agreed
Even if he were buying indexes, right now he would be down. The real issue is he invested money without the proper time horizon.
Terrible advice. Dave just wants to punish the caller for what Dave believes was wrong, he isn't trying to help the guy make the best of a bad situation. The better answer is start saving everything you can for the new van. Shave off some of that emergency fund (maybe take it from $35k->$20k) and sell one of the vehicles to get you as close as possible to the cost of the van. Let the stocks rebound over time. If you're still short on the van, cash the bonds out because the loan on the van will cost you more than the bonds make you in profit.
Thereâs no need to do individual stocks or use margin. The goal is to not blow up your account long enough that compound interest starts having a significant effect. VOO and chill.
Truu
My stock portfolio is swimming in the toilet. But, i collect dividends every month and qaurter.