I did liquidate all my financial assets over the past half year except BP. Thats the only stock I am still holding. Just over 150k worth. Sold all bond funds before and after the bond "crash". Sold my last stock, TM, on Friday. I do not trust the government shutdown folly to keep investors harmless. There is good chance investors and others will pay the bill for the Big Gov SD damages, but not the government itself or its employees and retirees. The Government protects its own over the people. Every time. It seldom takes responsibility for its actions. I will start buying back some stocks slowly when the market drops 10% from Friday. I think a 10-20% drop over the next few weeks is probable if the SD doesn't end this week. Will stick with BP, because that company will probably not be affected by the general market downturn and because it has shown to be an outstanding corporate citizen in the aftermath of the Macondo disaster. Wall Street has lost part of me though. I am planning to reinvest a good portion of the proceeds in farm and ranch land in Montana.
today's pps looks okay. divvie's fine. BP's probably the cleanest wheel on the bus now as a result of 'cando. if global markets drop just a good excuse to double down on shares from this level. heh, let's BP!
i'd like to see BP investigate some of the larger law firms farming claims - find enough fakers to prove fraud and racketeering back at the large law firms doing this. won't get a penny from the lil claimholders taking the freebies but could knit together an interesting reverse lawsuit and clawback from the lawfirms who knowingly farmed and fabricated fake claims.
I hope you are right although 10% is merely a correction that shouldn't surprise anyone. But if the government actually bumps into the debt ceiling there may very well be angst and 20% becomes a real possibility. The market almost always overreacts to bad news. I have seldomly tried to time the market but this is one of those exception especially since I was already raising cash for land purchases. It just urged me to pull the trigger on TM on Friday, the last stock I was still holding besides BP.