S&P 500 Tops Previous Record High

[NW-Bound]

Heh, heh, heh...

The Oracle of New Orleans has finally spoken. Just what I have been waiting for. There's fairness in this world after all.

Next week, I will go shopping for stocks when my wife's check finally clears. Licking my chops in eager anticipation.

Buy, buy, buy... Heh heh heh...

 

[NW-Bound]

I cannot stop giggling with pleasure.

See my AA below as I post this, taken from Quicken, my friends. Look at that.

See the cash level, which includes the I-bonds as I stated. Even if I do not redeem the I-bonds, it's still a lot of cash to go shopping next week.

My prayers have been answered. My luck is changing with the Wheee proclamation.

 

[W2R]

Wow! You are sure over-loaded with cash.

I think you should spend some, soon. Maybe a round-the-world cruise on a really high end luxury liner?

 

[NW-Bound]

No way.

If stocks get cheap (with your help, thank you), I buy stocks. Instead of a world cruise now, I can have two later. Delayed gratification is my middle name.

 

[RobbieB]

My statements arrived in the mail today and say I made 90 grand in June.

Woohoo! Think I'll order up some caviar -

 

[Another Reader]

If you order caviar when you are up 90 grand, do you order Alpo when you are down 90 grand?

 

[RobbieB]

I wouldn't feed Alpo to my dog.

 

[NW-Bound]

S&P on 5/31: 2097.

S&P on 6/30: 2099.

If your FA made you so much money for June, he's a h*** of a trader to beat the market so soundly. Or that he picked the right stocks for the month, and concentrated on them.


PS. One of my stocks went up 19.6% in the last month. The next one went up 9.88%, then the 3rd one 9.64%. Would I want to concentrate my portfolio on these?

 

[MRG]

I wouldn't feed Alpo to my dog.

My dog won't eat it.

That's really me for the sake of self preservation, if he ate Alpo we'd both be ill.

 

[audreyh1]

Just saw this thread on the topic of yesterday's intra-day high. But what about closing values?

Let's see, a Google search tells me that the record S&P 500 at closing was 2130.82.

Yesterday at closing the S&P 500 was 2129.90 according to Yahoo.

CLOSE ENOUGH!!! I *LOVE* it! This is simply wonderful. I just hope that it continues. I just looked at my portfolio values, and honestly this makes my day.

The first sentence of the lead article on Yahoo Finance is, "Fears of a stock market crash are hitting new highs." I'm sorry, I'm just completely ruining their fun with all my Wheee-ing and happiness. I'll try really hard to improve.

Oh nooooooo!!!

At least I have some tax loss harvesting to do if we suffer a big drop (again).

 

[RobbieB]

My FA didn't do any trading that I know of, the bag just grew by itself. He did pick the stuff but that was last year.

 

[Totoro]

Really now, mr. Sachs? yahoo finance headline after the expected continuing record highs:
Yahoo!

Goldman stuck with a neutral call on equities on both three- and 12-month outlooks, but added that if stocks rallied further, it would reduce risk in that segment.

If stuff becomes more expensive, risk drops?!

It expected equities would remain stuck in a "fat and flat" range, offering little in the way of returns, but suffering from high volatility.

Things will be stable, except they won't be?!

Within equities, Goldman said it preferred defensive, low-volatility, stable growth companies.

As opposed to others who prefer aggressive high-volatility unstable shrinking companies?!

Incredible ..

 

[braumeister]

Really now, mr. Sachs?

Incredible ..

Sorry, but if you want real advice from GS, it's gonna cost you.

 

[Rowej]

So do we break this sideways trading range for a new leg up? Or back to S&P 1,800?

I hope back to 1800

 

[eta2020]

I hope this is not surprising


100 years of charts tell me this is what S&P 500 does all the time.

 

[marko]

All CaliforniaMan was trying to say was that he could see a head-and-shoulder pattern forming, but he was not yet sure if it is not a reverse head-and-shoulder.

You mean like his photo, right?

 

[wmc1000]

sold IVV that i bought post brexit today. Build up a bit of dry powder!

 

[eta2020]

S&P on 5/31: 2097.

S&P on 6/30: 2099.

If your FA made you so much money for June, he's a h*** of a trader to beat the market so soundly. Or that he picked the right stocks for the month, and concentrated on them.

You got it right His FA is a effing genius

 

[RobbieB]

He's not bad eh? I like him, he's worth his salt (1% AUM)

When I call him he answers the phone. Or his assistant does. Some real person.

I think he did one trade this year, sold the Lilly and bought Astra Zeneca.

I was up 60 grand from last month after Brexit and finished the month up 90 grand.

 

[NW-Bound]

If this guy makes this much for you, he makes even more for himself.

If I were him, I would not be in the office answering anybody's call. I would be in the Bahamas, swinging in a hammock, sipping pina colada while glancing at my smartphone every so often for my portfolio's total. When the market closes, and I finish my nap, it's time to walk to my favorite restaurant on the beach and see what fresh fish they have for dinner.

Your FA does not know how to enjoy life.

 

[eta2020]

Average FA has 165 clients. This guys made around 15 Million for his clients in flat month of June. Can you imagine what he will do in July? I would guess 60-100 million by now.


Not bad. He deserves to enjoy his life.

 

[kgtest]

If this guy makes this much for you, he makes even more for himself.

If I were him, I would not be in the office answering anybody's call. I would be in the Bahamas, swinging in a hammock, sipping pina colada while glancing at my smartphone every so often for my portfolio's total. When the market closes, and I finish my nap, it's time to walk to my favorite restaurant on the beach and see what fresh fish they have for dinner.

Your FA does not know how to enjoy life.

My cubemate made me laugh. He keeps talking about his horses, and his 20acres and the hay he makes with his land to feed the horses...

I says to him, wait a second, do you lease your land to farmers...how the hell do you bail hay and maintain your equipment to feed the horses if you are sitting next to me 40hrs /week typing on a keyboard...

He grins...a very big grin...and says "Boy do I have a sweet arrangement".

I say to my cubemate, please do tell...

He says to me, my neighbor owns and maintains the farm equipment, he does the farming and makes hay for me, in return I give him half of the hay.

I says, what the hell does your neighbor do for a living...


He's a financial advisor.

 

[NW-Bound]

I do not know what percentage of the portfolio the $90K represents, but unless the portfolio is big like $9 million so that it is just a small percentage (1% gain), when someone beats the market soundly then it means a concentration in a few stocks, or a sector.

Robbie, if my FA made me this money, I would look into what stocks I held, and asked the FA about his exit plan. No trees ever grow to the sky like Jack's beanstalk, not even something like Apple, or Cisco before it. So at some point one has to pick the ripe fruit and moves on. Not saying that I would sell a stock soon after it jumped a lot, but I would watch and understand if the trend was sustainable.

In Feb 2000, I watched in amazement when my portfolio jumped $30K in a good day (I picked my own stocks). I had less than now, and also was never fully invested so that this gain was big in terms of percentage. I never did sell, and when the market tanked later, these tech stocks crashed a lot harder than the market, and all my gains evaporated.

 

[RobbieB]

They are mostly large cap US dividend paying companies. A few tech stocks, like facebook that I would have never bought on my own because I hate them. Oh, and Phillip Morris too, another one I would never have bought, friggin' death peddlers.

My bag is less than a third of 9 mill and year to date it's over 10% up. And you think I should sell it eh?

That's why I pay a financial advisor to watch my bag -

 

[NW-Bound]

OK, if your portfolio is diversified, even if it is mostly of one sector of the S&P, then it is reasonably safe. Carry on.

One cannot count on any trend lasting forever, but of course there's nothing wrong with celebrating a victory.


PS. About not watching your FA because he's so good, a lot of people made that mistake with Madoff.