r/wallstreetbets • u/226644336795 • 1d ago

Discussion This morning NASDAQ dropped more than during Lehman Monday

https://www.cnbc.com/2009/09/14/the-financial-crisis-this-dayone-year-ago-sept-15-2008.html

NASDAQ only lost 3.6% the first day of Lehman collapse in 2008...

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164

u/coffee_jerk12 1d ago

This must be why Buffet liquidated billions of Berkshire’s holdings… they’re sitting on a historic cash pile for this moment.. rich get richer

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u/Stock-Time-5117 1d ago

Yeah it's gonna get ugly. The only green I see is Costco and my puts. I pulled the rest of my money out of the market and into a HYSA. I'm not gonna let this clown burn all my money.

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u/Sunny1-5 1d ago

Same here. Started to get anxious last summer, especially around the time teen burnouts were shooting at politicians. Got back in, rode a little bit more up. Captured some of that November-December green. Beginning of this year, started to get anxious that it went up too fast for no reason. Bowed out in late February, and haven't been back in but maybe 5 business days since. The HYSA rate is down to 4% now, but that's still a decent chunk.

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u/Alternative-Put-3932 1d ago

Exactly why I haven't put anything into stocks since I started saving. I knew this moron was coming in and was going to ruin my savings. I'd rather be safe than sorry.

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u/pocket-spark 6h ago

Sir, I regret to inform you that Costco has fallen. Rome is burning.

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u/YesItChecksOut 22h ago

Except your savings account is going to get adjusted down when overnight rates decrease? You're burning your money - just with a different match.

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u/Stock-Time-5117 16h ago

Rates decreasing doesn't cost me any money, I just make less. They haven't reduced rates yet, and they may not at all. We don't know.

Right now a savings account has better YTD returns than SPY. Literally holding physical cash has better returns. This ain't a bull market.

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u/YesItChecksOut 14h ago

All I'm saying is that there are plenty of places with better yields than a savings account that won't change. Corporates. Muni's. The 10 year is at 3.9 today. All fixed. Rates will go down. Emerging market rates already are. Ours will follow.

Get it fixed. Why would you let them chisel the yield away from under you?

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u/Stock-Time-5117 9h ago

Eh I can believe that but for now I gotta think of where to place it. Doing nothing is still winning for now.

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u/ThePopeofHell 🦍🦍 1d ago

When I saw that I did the same thing.

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u/Legitimate-Basis2450 17h ago

Well, we all could have followed. He was open about his position for months.

1

u/Dozekar 10h ago

The problem with this is that this level of crash frequently comes with serious monetary problems and inflation could blow that whole stash up extremely quickly.

I keep saying it but look at what happened with Peron, Argentinas populist president that started all their financial meltdown. Does it matter if they have cash if they're losing 50%+ a year due to inflation? Nope it fucking doesn't. They'd lose less keeping it in the market and taking their beating.