The Most Dangerous Investing Decision You Can Make

The Most Dangerous Investing Decision You Can Make BY  for Daily Reckoning

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What is the most dangerous investing decision you can presently make?

Your choices are these:

A): Buying and holding through thick, through thin, through peak, through valley

B): Loading up on “FAANG” stocks (Facebook, Apple, Amazon, Netflix, Google) — plus Microsoft

C): Chasing biotechnology stocks in pursuit of a COVID vaccine jackpot

D): Going “long” the S&P

E): Heeding The Daily Reckoning’s investment advice

In the spirit of transparency, we eliminate E from contention — rightly or wrongly.

A-D are your choices. Have you made your selection? Answer shortly.

Let us first look in on that pit of quicksand known otherwise as the stock market…

More Long Faces on Wall Street

Markets sank deeper into the muck again today.

The Dow Jones plunged another 525 points today. The S&P dropped 78. Percentage wise, the Nasdaq fell even lower — 330 points.

What do the experts have to say?

Ian Shepherdson, chief economist for Pantheon Macroeconomics:

It’s hard to be optimistic about September and the fourth quarter, with the chance of a further relief bill before the election receding as Washington focuses on the Supreme Court.

JPMorgan’s John Normand has this to say:

Even if just coincidence, September has become the month when most of investors’ widely-held reservations about the global economy and markets have converged. These include an early-stage downshift in global growth; a rise in US/European political risk; and virus second waves. The only missing component has been the use of systemically-important sanctions in the US/China conflict.

Perhaps these are next?

Finally, we turn to Art Hogan, chief market strategist at National Securities:

September is a historically tough month and this one has been a quagmire of headwinds. Today is reflective of that.

As we reminded you yesterday: History says September is the stock market’s cruelest month.

59 Years Until the Next Rate Hike?

Gold, meantime, took another solid whaling today — down $42. Why?

Chicago Federal President Charles Evans claims he and his fellows may increase interest rates before attaining their blessed 2% inflation.

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