I just wish it would be concentrated towards those who need it. My job is uninterrupted working from home and I will get paid like normal. But I really feel for those who got tossed out of work because their companies had to shut down, and the companies themselves that are impacted, those are who really need the stimulus.Originally Posted by Boston Red
Last edited by Griffey012; 03-17-2020 at 01:21 PM.
"Today was the byproduct of us thinking we can come back from anything." - Joey Votto after blowing a 10-1 lead and holding on for the 12-11 win on 8/25/2010.
He says it will be means-tested, so I don't expect to get a check. If I do, I'll spread it around somehow.
Griffey012 (03-17-2020)
Got it, yeah I will be doing the same.
"Today was the byproduct of us thinking we can come back from anything." - Joey Votto after blowing a 10-1 lead and holding on for the 12-11 win on 8/25/2010.
So, uh, is it time we consider just suspending the stock market/trading yet, or are we going to wait until we're at like 10,000?
If that's what the market thinks the companies are worth, that's what the companies are worth.
lol right because the market is never irrational
good grief
Turning and turning in the widening gyre
The falcon cannot hear the falconer;
redsfandan (03-23-2020)
Of course the market is irrational. You have companies with market caps swinging by billions of dollars in 15 minutes. But literally, a company is worth (on a per share basis) what you can sell the shares for on the market. I'm not sure what's controversial about that statement. Because share prices are going down doesn't mean we should close the market. Just as we shouldn't close the market when share prices are irrationally going UP.
Of course roulette is irrational. You have players with chip stacks swinging by thousands of dollars in 15 minutes. But literally, a spin is worth what bet you can place on it. I'm not sure what's controversial about that statement. Because chip stacks are going down doesn't mean we should close the table. Just as we shouldn't close the table when chip stacks are irrationally going up.
Our planet is a lonely speck in the great enveloping cosmic dark. In our obscurity, in all this vastness, there is no hint that help will come from elsewhere to save us from ourselves. -- Carl Sagan (Pale Blue Dot)
OK
Because you're saying that's what the companies are worth as if the market is the ultimate authority. It's a snapshot of what people buy and sell for at that moment, only sometimes having anything to do with the actual worth of a company.
Turning and turning in the widening gyre
The falcon cannot hear the falconer;
It IS the ultimate authority at any given moment.
If you're buying or selling.
Turning and turning in the widening gyre
The falcon cannot hear the falconer;
The market can only be the ultimate authority if everyone in it is acting perfectly rationally based on perfect information. Without that, it's basically guesswork and gambling.
Our planet is a lonely speck in the great enveloping cosmic dark. In our obscurity, in all this vastness, there is no hint that help will come from elsewhere to save us from ourselves. -- Carl Sagan (Pale Blue Dot)
Of course. It's a market mechanism. If you don't need the market, you don't need the mechanism.
And if you think the market is irrational and wrong, and you are right about HOW the market is wrong (and can wait long enough for the information to come out to prove the market wrong), that's a pretty beautiful thing.
Again though, you're saying the mechanism tells us the value of the company, but the value of the company is an intrinsic fact (you can figure that out in hindsight, right?) that may or may not have any relation to the stock price at any given moment.
On the latter part, it's random chance almost always, certainly at the level where regular people are participating. It's 100% gambling. Should go up over time (maybe, we're seeing now that's more delicate than the 20th century maybe led us to believe) which makes it work out ok for retirement purposes, but otherwise I hope nobody is ever spending money they actually need.
Turning and turning in the widening gyre
The falcon cannot hear the falconer;
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