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Scrapping CD's - Buying Stocks!

Over6T
  |     |   31 posts since 2012

As a geezer that has been 100% out of the market (and slept well) for over a decade, I'm cautiously buying severely depressed stocks. Like many of you, I've been through this kind of market gyration several times in my life. Yes, this virus thing is a bit different, but it sure feels like 2008 and 1987 all over again, albeit for different reasons. This time it could be broader, deeper and longer than earlier events... or not. Remember Y2K! Is this virus thing all a big nothing burger? I don't know, and it doesn't matter. I love a good sale!

So, as increments of my laddered CD portfolio mature I'm taking that money and buying into the bad news. Selected stocks are on sale right now at levels not seen for over a decade. Deposit accounts are offering bupkis, there's no incentive to get a sub 2% return.

I'm curious if others are doing the same... and, what impact that will have on Credit Unions and Banks.

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Buck
  |     |   2 posts since 2020
Your timing is bad and timing is everything. Being out of stocks for 10 years was not good and buy now, before we hit bottom is like trying to catch a falling knife. For literally 50 years, bond yields have fallen to now zero, not by accident but by Banksters selling worthless paper so they did not have to pay savers any interest. Stocks were the primary beneficiary and the whole system is collapsing, not just by pandemic but reality setting in...IT TOOK 50 YEARS FOR DOW OF 1933 TO RETURN TO 1928 LEVELS WHEN ADJUSTED FOR INFLATION.
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