33 years ago today.

NCST8GUY

Frozen H20 Guy
10/19/1987

It was also a Monday.

Black Monday (though it started on the previous Friday). I was in the 8th grade. We didn't have innernet, or readily available computers, but even our teachers towards the end of the day were saying "the stock market is crashing, worse than in 1929".

When I got home I could tell my folks were affected by this. I guess when you are 1 generation away from the Great Depression, some instances can cause a primal fear. I remember my mother telling me that night that she knew 2 people whom were taking PTO the next day, to buy stocks (that's how one had to do it back then if they weren't already in the game and had to call in their order) instilling confidence in me that everything will be alright.

I remember the "stocks" section of EVERY local paper showing the prior day's movements measured in 1/8ths LOL.

It was compared to 1929, and yet, we overcame.
 

aya28ga

Old Mossy Horns
Contributor
Black Monday. Certainly a bad day, and I'm old enough to remember it. Thankfully, I had a great advisor that told me in no uncertain terms "stay the course." I'm glad I took his advice.

Since then we've had a recession in the early '90s, the "dot-com bust" of the late '90s, the "Great Recession" of 2008, and the "Covid Crash" of early 2020. Those that "stayed the course" prospered; those that panicked and sold, lost out on opportunity. Not trying to brag, but I've come out on top every time, simply by following that advice of staying the course and sticking to the financial plan. In 2008 it was gut-wrenching, watching the bottom fall out and wondering if I could ever retire, but staying firm in my position and not cashing out proved to be the right move in the long term.

"playing the stock market" & "long-term investing" are two totally different views. The first is equivalent to playing the lottery, the second is based on solid planning. Investing should be a long-term strategy measured in decades, not day trading dreams......
 

double

Twelve Pointer
Even in a Great Depression someone is making money. I have been buying Carnival cruise line stock for several months now. It was over $50 a share precovid. Now it stays in the 13-18 range. I am sure it will go back to at least 35. Many millions of dollars have been made chasing the covid slump.


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Crappie_Hunter

Twelve Pointer
Contributor
Even in a Great Depression someone is making money. I have been buying Carnival cruise line stock for several months now. It was over $50 a share precovid. Now it stays in the 13-18 range. I am sure it will go back to at least 35. Many millions of dollars have been made chasing the covid slump.


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After the Covid market slump I purchased Ford, Carnival, and Delta Airlines.... I'm up 40% total on those 3.
 
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