Appreciate this community. Nice to see I'm not alone in losing thousands and thousands of dollars in a span of a few weeks.
I know this board is full of investors and traders of all levels, but I want some honest real opinions, ideally from more informed members here, how long do you really believe this “bear” market or whatever this is…will last.
I'll be honest, I work at a very big retail business (be it a commodity), owned by one of the larger FAANG stocks and I will tell you, you would never ever know we were in a recession or being close to one. There has never been so much excessive wealth in history (correct me i'f I'm wrong here) and clearly, technology (growth companies) where most of these people are making their fortunes are not just gonna die away, because clearly, seems like we are at the point of no return, like it or not as far as counting on tech, so I just can't really see this “stagnation” happening as long as in the past?
And I know at the end of the day, know one really knows, except possible the Fed and the very small percentage of entities who basically control us all in the end.
Background on myself: in my late forties, live very minimalist, don't need much to live and my expenses are low, and trying not to be worrying about my portfolio in the next 5 years, possibly/hopefully mostly be out of this market and living off what I have. 60% of my savings in the market, was slightly in the green 3-4% yesterday for the first time, then down like 5% today.
Thanks.
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