The Correction Has Already Begun

[EastWest Gal]

Nobody asked me whether I did go to IKEA.

Yes, I did, and just came back from an errand afterwards. And yes, we did eat their $1 breakfast. Here's a photo of that deal from the Web, which I linked from an article in the Toronto Star reviewing the nutritional value of this meal. See: https://www.thestar.com/life/health..._for_ikeas_1_breakfast_but_is_it_healthy.html.

Now, I did not take my own photo for comparison, but I will certify that they gave me only about 1/2 to 2/3 of the potato shown in that photo. No matter though, as it still filled me up, and as a result I am not eating lunch today.

If the market keeps on tanking, soon I will be eating meals like this every day in order to reduce my WR.

I'd have to drive 90 minutes to the nearest Ikea store. I guess I'll make my own breakfast.

 

[Blue Collar Guy]

I'd have to drive 90 minutes to the nearest Ikea store. I guess I'll make my own breakfast.

 

[NW-Bound]

It's only 3 miles for me.

And if the market crashes and I have to move into my 25' motorhome, there's a Walmart that's 1 mile from that IKEA, and I can park there and walk to have breakfast everyday.

Oh wait. The market goes up today. Well, will it hold? Hmmm... One must always have a contingency plan. You never know.

 

[Blue Collar Guy]

It's only 3 miles for me.

And if the market crashes and I have to move into my 25' motorhome, there's a Walmart that's 1 mile from that IKEA, and I can park there and walk to have breakfast everyday.

Oh wait. The market goes up today. Well, will it hold? Hmmm... One must always have a contingency plan. You never know.

 

[easysurfer]

Dow suffers worst day drop since mid-may. Things good get interesting.

 

[Winemaker]

Dow suffers worst day drop since mid-may. Things good get interesting.

While you guys buy breakfast on sale, I'm headed for some equities if this keeps up(down).

Unless it's different this time...

 

[marko]

Dow suffers worst day drop since mid-may. Things good get interesting.

But isn't there a difference between an organic correction (things just getting overpriced) and a drop in value due to an outside event (geopolitical, terrorism etc)?

This thread is about a coming correction. Possible/likely but I don't see this week's drop being related to a correction as much as a headline issue.

IMO they're different, but I'm not an expert on the intricacies that define a correction.

 

[HadEnuff]

I read an "article" advising me to sell everything and buy gold, which conveniently enough, was being sold by the publisher of the article.

When I advised DW that we were now 100% in gold, she asked me why, if gold was the sure thing to be in, they were selling.

Well...I explained...."it's too complicated for a woman to understand. It's guy stuff"...that went well.

 

[H2ODude]

I was at Fidelity brick and mortar yesterday to execute a weird international funds transfer for DS in Africa. Bunch of older folks collecting for a "quarterly update" meeting which I tried once but didn't find all that entertaining. I couldn't help but chuckle at the concern being expressed at the day's drop. I've given up worrying about such things. As they say...meh.

 

[Proteus126]

I was at Fidelity brick and mortar yesterday to execute a weird international funds transfer for DS in Africa. Bunch of older folks collecting for a "quarterly update" meeting which I tried once but didn't find all that entertaining. I couldn't help but chuckle at the concern being expressed at the day's drop. I've given up worrying about such things. As they say...meh.

DS going in with the Nigerian Minister of Interior?

 

[Totoro]

My index tracker (vanguard VT) in EUR now has an official -2% YTD performance. Thanks to the EUR rise (or more correctly: dollar drop) of course, but still.

From my perspective a correction indeed seems to warming up, and given the Shiller PE is at 30 or so, there is plenty of room towards the bottom.

Hopefully it keeps going for a while so I can finally up my allocation. Not that I expect it, there are no external shock events. But who knows.

 

[Newventurer]

I'd have to drive 90 minutes to the nearest Ikea store. I guess I'll make my own breakfast.

Farther for me...guess I'll just virtually eat my IKEA breakfast, fewer calories...and none of those troublesome screws putting things together

 

[H2ODude]

DS going in with the Nigerian Minister of Interior?

No, but whenever I go in for these that's what I tell Fido rep it's for and they recoil in horror! It's for his son's preschool tuition; whenever he needs large money transferred there he cannot do it "from" there. Like when buying a vehicle. This time it had to be converted to B pounds.

 

[NW-Bound]

While you guys buy breakfast on sale, I'm headed for some equities if this keeps up(down).

Unless it's different this time...

The two actions are not mutually exclusive. One can eat cheap meals to have more money for stocks, you know.

I am back up to the boondocks home which is a long way from IKEA, but probably can make myself a $1 lunch (I don't eat breakfast).