It is inevitable at this point, sell your stocks and have liquidity, for the next 1 to 3 years life will be very tough. The only good news is that you can defer your mortgage payment for 1 year, save as much as you can in your expenses as most will be without a job and without pay.
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@2ssz, 100% stocks in your so-called "portfolio" is perfectly fine if you also have other assets which provide 100% or more of your expenses. That means you can afford to lose everything that you have in the market and life will continue as it always has. (i,e,. rentals, pensions, SS, etc.)
In addition, some people don't include their emergency fund as part of their so-called "portfolio" and older folks keep several years in cash or savings earning about 2% (less now, 1.7?). as an emergency fund. That is always laughed at by the young and adventurous as keeping money under the mattress and losing it to inflation. Keep laughing as they watch the clown show and have a glass of fine wine. If you are young and have a lot of years left, don't fret, you'll recover, all the rest of us did in the past.
Good luck to all, take precautions and stay healthy.
@1yhn, and that obviously does not include you as you addressed the entire thread of posters.
People got way too used to market returns. I know people that were 1-2 years away from retirement that had 100% of their portfolio in stocks - I seriously can’t imagine!!
146zBb0r At least somebody on this board understands what is happening.
This virus is the perfect excuse world stock markets have been waiting on to unwind the Ponzi schemes they have been playing on all of us for a very long time. The spread of this virus may have been perfectly planned to happen at this time.
I think you meant, Kowtow. Governors are kowtowing; rather than cowtailing. Just saying.
Agree with last poster. Governors are cowtailing to individuals that don't get the bigger picture and have never seen what a 3rd world country in shambles looks like. Governor's need to hear from its saner citizens that understand that those that do not have compromised immune systems need to get masks and go to work. A capitalist-based society without much of a very limited social safety net cannot just stay at home and think everything will be fine.
The DJIA is going to the value it started when they started artificially inflating it with QE which was about 8,000. The bubble is popping and the market is just looking for fair market value.
This not about making profit, we are entering into a U shape market with no income or limited income I. The horizons for the next 12 months, you can stay in denial mode or put your head I. The same, if you want to protect your family and your life it is wise to have enough amount of cash reserves to survive the next 12 to 24 months. This is not going to go away anytime.soon and corporate America is not going to save employees from this downfall.
Don't try to time the market as the last poster suggested. You will be sorry. Sure, they will go down. But where will you be when they come back up past your sell point? Not a happy camper.
The stocks will go down much more, save your money when you can!!!
So sell low and try to time the market? Not very sound advise.
There are ways to deal with depression. Work hard at that. You'll get through it.
Blame executives who for yrs spent trillions in buybacks to up their options instead of focusing on making stringer balance sheets. They should give back their option payouts.
It is a national crisis. Pray for a miracle.
You can thank all of the governors who are shutting down their states to in a somewhat futile effort to reduce the spread of this coronavirus. It will definitely cause economic destruction on a massive scale. There is not enough federal bail out money to undo the damage. What is the correct or best response to this? Millions of people will have their lives permanently hurt by this.