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S&P 500 Plunges 7%, Triggering Market-Wide Stock Trading Halt
- m0zg 7y agoI've been dollar cost average buying for a few days now. Not too much, a few tens of thousands of dollars a day. Please carry on with the panic, everyone.
- FreedomToCreate 7y agoFor context, you are being downvoted for being smug and not adding anything to this conversation.
- qqssccfftt 7y agoThat's literally all of this website
- ForHackernews 7y agoFor context, you are being downvoted for saying the quiet part loudly.
- dang_ur_dumb 7y agoThe most truthful comment of all time.
- ForHackernews 7y agoCongratulations on being rich and somehow dumb enough to think you can time the market while also believing that dollar cost averaging is a good strategy. If you are so sure you know where the bottoms are, just buy them. Don't waste your time with DCA.
- dylan604 7y agoI don't know why you call it dumb. This is what happens in every down turn. The people with money take advantage and increase their possessions while the people without money lose theirs. The rich get richer. The more severe the down turn, the more drastic the swing.
- ForHackernews 7y agoHistorically, DCA is a dumb strategy: https://business.time.com/2012/11/15/is-dollar-cost-averaging-dumb/ https://business.time.com/2012/11/15/is-dollar-cost-averagin... Instead of having all these tens of thousands of dollars sitting around, he should have invested them years ago. Some people think they're clever by waiting to "buy the dip"; others think they're being clever by "spreading out the risk" (with DCA). They're both silly attempts at market-timing. Our OP commenter is a unique doofus who has come to HN to brag about combining two different (& contradictory) losing investment strategies.
- m0zg 7y ago^ found a guy I've been buying from.
- bluGill 7y agoDollar cost averaging works for me because I didn't have those dollars sitting around last year. Like most people my main source of investment funds is my 401k contribution which is divided up over the course of the year. I suppose in theory I should have figured out the entirety of my 401k contributions from the time I start my first job until I retire, take out a loan for that amount and invest it, then when I retire pay the loan off. The numbers work out on paper, but nobody would give me such a loan so in practice it doesn't work even if the tax advantages would be allowed for such a scheme.
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- awinder 7y agoI think you need way more than a few days to be talking about dollar cost averaging lol
- Brain_Thief 7y agoThis is hands-down the most cringeworthy comment I've ever seen on HN.
- dang 7y agoIf you keep posting flamebait to HN we're going to ban you. I've lost count of how many warnings we've already given. https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html
- SilasX 7y agoWe just had this thread about the plunge/halt. Merge? https://news.ycombinator.com/item?id=22525238 https://news.ycombinator.com/item?id=22525238
- dang 7y agoComments moved thither. Thanks to both of you!
- talkingtab 7y agoPrevious thread on HN (just hours ago) with more information and many good comments https://news.ycombinator.com/item?id=22525238 https://news.ycombinator.com/item?id=22525238
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