Don't underestimate the power of compounding. I am up 2.56% today, and there are 250 trading days in a year.
So, 1.0256^250 = 555. I would be a billionaire long before the year end.
Don't underestimate the power of compounding. I am up 2.56% today, and there are 250 trading days in a year.
So, 1.0256^250 = 555. I would be a billionaire long before the year end.
That is bad. Sorry for your luck.How's this for bad luck. My wifes company moved their 401K from John Hancock to Vanguard on 12/31. Why is this bad luck? Because all of her assets in the old 401K were sold at the end of business on 12/31 and weren't reinvested in Vanguard until after close today! We were totally out of the market today due to no fault of our own. UGH! Figured it cost us at least $10K. Oh well. As long as the market continues these gains the rest of the year.......
Just looked at my 401(k), and my YEAR-TO-DATE rate of return is 12.40%. Woot!!!!
Isn't there some saying about don't count your eggs......My portfolio will be up 400-500% in 2013!
How's this for bad luck. My wifes company moved their 401K from John Hancock to Vanguard on 12/31. Why is this bad luck? Because all of her assets in the old 401K were sold at the end of business on 12/31 and weren't reinvested in Vanguard until after close today! We were totally out of the market today due to no fault of our own. UGH! Figured it cost us at least $10K. Oh well. As long as the market continues these gains the rest of the year.......
Just so you know, that was probably for 2012, not 2013!Just looked at my 401(k), and my YEAR-TO-DATE rate of return is 12.40%. Woot!!!!
Um, you think his 401K would let him buy those things? LOL!As there was no MF that went up that much in a single day, I also wondered what single stock would go up that much. There are, but they are usually small microcap stocks. So, did he put it all in his company stock?
Anyway, I myself do have a position that went up 12.72% today!
It's a triple-leveraged ETF called SOXL (Semiconductor Bull 3X) that I mentioned once before in another thread. I use it as a market-timing play, and have not had more than 1% of portfolio in this position as it is extremely volatile. I could easily give back all the gain tomorrow. See http://www.early-retirement.org/forums/f44/lol-s-market-timing-newsletter-57042.html.
The next runner-up in my portfolio is X (US Steel), up 8.55% today. So, I hope that if MelBay 401k was really up 12.4% in one day, he would tell us what he held.
Some of youse guys are gonna jinx us all...
I assume the next time the market dives you'll report that you'll be bankrupt in X days.
The most unlucky scenario would be if I became a billionaire this year. That would have meant hyperinflation Zimbabwe style. No, nobody can be that pessimistic!
And if the market tanks? Hey, misery loves company. Remember all the camaraderie here during the Great Recession of 2008-2009, when people licked their wound at market close and commiserated about the money lost that day? Without down periods, life would be dull.