Roughly $11.1 trillion has been wiped away from the U.S. stock market since Jan. 17, the Friday before President Donald Trump took the oath of office and began his second term, according to data from Dow Jones Market Data.
Some $6.6 trillion of that figure was lost on Thursday and Friday alone — the largest two-day wipeout of shareholder value on record, Dow Jones data showed.
The top 10% wealthiest Americans own over 90% of stocks…
https://markets.businessinsider.com/news/stocks/stock-market-ownership-wealthiest-americans-one-percent-record-high-economy-2024-1?op=1
I do feel bad for the people who left their 401k in the market instead of government securities. trump has been saying he’d do this dumb shit since the campaign.
But bitcoin is going to…oh.
Oh well, at least gold is… Oh.
GME to the moon!
Not exactly sure how one is supposed to transfer one’s 401k to government securities on such a short timescale…
Trump was elected in November. I had every cent moved out of US stocks by mid December. My tax burden is already less than what I would have lost if I kept them money where it was.
There was plenty of time if you were paying attention. If you didn’t move your money, unfortunately, that’s on you.
Edit: SPY puts with 20%. The 40% bonds. 30% forex. 10% cash. But what the fuck do I know. I didn’t make any money and you all know exactly what you’re talking about and I’m full of shit.
It’s a 401k. I can’t move my money out of it without taking a tax penalty.
Look up the video on investing at market peaks.
Bro he literally said the tax penalty is less than his loss
L2Read.
Yes there is a tax penalty. as I said in the original comment.
However, that tax is less than the amount lost since December. As I said in the original comment.
No it is not. Tax rate is ~20-30%. Market has dropped 10% since November. What is this batshit advice?
Just move it to stuff that guarantees 40% plus. 2ez. git gud. /s
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So your 401k is just a single fund and that’s it?
That sucks bro
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I don’t understand then, are they just bilking each other?
If the billionaires are buying en masse to profit off this, someone is selling. If billionaires own the majority…they’re…selling to each other and losing?
A potential explanation is this is the Russian fall of communism / transition to oligarchy moment, where regular people will get rid of the “worthless” stocks fearing no bottom, and the top 1% will buy them for pennies on the dollar.
What if you short the market?
Putting a lot of money into shorts (money you can barrow mind you), is essentially massively selling stocks you don’t have with the promise of buying them back later.
If a lot of rich people do this, it will trigger a panic sell, get the price low, they buy back the “barrows stocks” at cheaper rate and now they have profit and some people have sold, so the stock is lower.
They can now buy more stocks and we’re back to the first step but with the rich having a higher share than before cause of the panic sellers.
I wonder if we’ll get another high return iBond this year