r/WallStreetbetsELITE • u/Soft_Cable5934 • 1d ago

Loss Fuck. We are doomed

Post image
673 Upvotes

94% Upvoted

369 comments sorted by

View all comments

116

u/Dalcoy_96 1d ago

What a complete fucking waste. My dad who isn't a Trump supporter but fell for the whole strong man "I'm gonna fix everything" schtick, works in finance and couldn't believe Trump unleashed the tariffs. 🤷

22

u/monadicperception 1d ago

Finance people are actually quite clueless. Spouse is in finance and I, the lawyer, actually dictate our investment strategy (and we pulled out early this year so we’ve been spared the bloodbath). I attribute it to lawyers being trained to spot risks and to mitigate risks. Also, having an understanding of how the law works is a huge competitive edge.

3

u/AdagioHonest7330 22h ago

I find lawyers to be the absolute worst with investments. Lol trained to spot risks. Usually the lowest paid back office cost center in any Wall Street firm.

2

u/rectumreapers 1d ago

Explain MAGA lawyers than 🤔

10

u/monadicperception 1d ago

I know a few. My explanation of all MAGA is this: they are incredibly self-centered individuals. Seems to be a pre-requisite to the MAGA “movement.”

1

u/LaZZyBird 19h ago

MAGA lawyers and to some extent Vance are the equivalent of court historians hired to rewrite history and provide the intellectual justification for Trumps bullshit.

They are arguably the worse of them all, because they are the key enablers giving this clown and visage of legitimacy.

1

u/Ok-Confidence9649 1d ago

I was reading about the 2007-2008 crisis and crash and how most economists did not see it coming. There is a small list of people credited with predicting it. But after reading that, I have realized no one is going to warn or save us. We truly have to look out for ourselves.

1

u/Repulsive-Smell-6722 21h ago

We all saw this coming. I know I did. I completely sold off all of my stock holdings in December. I was able to buy 60 acres of land. I think I'll sit tight for the next few years.

1

u/veerKg_CSS_Geologist 21h ago

Hmm, I briefly considered pulling everything out in December (when the market was quite high), but only pulled out about half because of tax year reasons. I figured I’d pull out the rest in the new year. Anyway, the market has gone down since…

1

u/jbond1326 20h ago

It is impossible to time the market, missing the best 10 days can absolutely crush your overall returns. Derisk a bit, but hopefully you didn’t pull out completely