743-Did We Get It Wrong? Reflecting on the Unexpected (?) Recovery of the Stock Market
Radical Personal Finance
Joshua J. Sheats, MSFS, CFP, CLU, ChFC, CASL, RHU, REBC, CAP
4.2 • 1.9K Ratings
🗓️ 9 September 2020
⏱️ 80 minutes
🧾️ Download transcript
Summary
In March, things looked really bleak. But the stock market recovered in a spectacular 5-month period.
Did we get it wrong? Do we regret anything we did?
Joshua
Transcript
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| 0:00.0 | Welcome to Radical Personal Finance a show dedicated to providing you with the knowledge, skills, insight and encouragement you need to live a rich and meaningful life now, while building a plan for financial freedom in 10 years or less. |
| 0:11.0 | My name is Joshua, I am your host. Today we're going to talk about how stocks |
| 0:16.4 | always go up. Radical personal finance listener Benjamin writes in in the Radical Personal finance Facebook group a few months back |
| 0:24.2 | Joshua stated something along the lines of quote if the fed in Congress can dump an |
| 0:28.9 | insane amount of money and save this sinking ship one last time that would be awesome it would also mean I would |
| 0:35.9 | triple down on my bed against the future of x y z close quote that seemed to have |
| 0:40.9 | happened I don't see how it's at all sustainable and actually reflects the real economic state the United States is in, |
| 0:46.1 | but the market is indeed at an all-time high again |
| 0:49.9 | Despite the apparent dismal economic future that looms, |
| 0:54.0 | sorry, that looms. |
| 0:55.0 | I took a strong cash position in late March. |
| 0:57.5 | It seemed wise at the time. |
| 0:59.0 | Six months later, I personally know many people who were out of work |
| 1:02.0 | whose companies in the corporate |
| 1:03.2 | event space have completely collapsed yet the market carries onward and |
| 1:07.3 | upward as if the realities of many of my colleagues have absolutely no bearing on |
| 1:11.4 | the economic state. |
| 1:13.0 | No regrets, no grudges, my family's social wealth and mental health are higher than ever. |
| 1:17.6 | This post is a small challenge to radical personal finance to address this fact. The bet on the US stock market feels like it is an almost |
| 1:24.9 | guaranteed bet at this point based on what the Fed has done. What do you do with this |
| 1:29.6 | information knowing that it is not sustainable? As for me, I will continue to bet on me. |
| 1:35.0 | I'll continue to increase my flows of income, |
... |
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