The Stock Market

linkedin is pretty legit

hard out there

Federal Reserve putting marginally less champagne on the table == desperate times on Wall Street.

suck it up bnw

HI DERE

Time to mortgage house, cars, even family members and put it all in AAPL. P/E ratio is 12.23 for the world's most successful company!

Done.

http://oi61.tinypic.com/2yor9mh.jpg

Shit! Two of my family members escaped so now I have to pay the money back.

AAPL: people forget this stock crashed 40% at 2013

iPad market is shrinking, Watch may be a disappointment so far, and Chinese slowdown is dampening market share growth expectations in China, plus I have a feeling the iPhone 6 launch captured a bigger than normal amount of pent-up phone demand and now the 6s launch will be weak because everyone anywhere close to needing a new phone bought the 6/6+ already. Still doesn't seem like a crazy buy right now, but I'm jittery about the market in general and staying away.

George Chen ‏@george_chen 22 minutes ago

BREAKING: Shanghai benchmark index lost over 7% with over 600 stocks down 10%, losing all key support levels and no one dares to step in now

https://twitter.com/george_chen

Now down 8.5% as I posted that...

whoa fuck

The crazy thing is that it's still only down to about their level six months ago and still 44% above where they were a year ago. Probably gonna fall further is my guess.

here we go

Saudi Arabia, Dubai and Abu Dhabi were all down 7-8% yesterday and the Chinese exchanges were expected to get hammered today. Oil is now at its lowest level since the 2008 financial crisis, i believe. Australia's exchange had AU$60bn wiped off it.

I was expecting the MICEX index to drop at least 5% today but it has only gone down about 2% - the FTSE has been hit worse already.

I sold all my shares three weeks ago - they would have fallen 9% if i hadn't.

http://i.imgur.com/sSetybU.png

Not quite sure how the Shanghai Composite went from 3100 in February to 5200 in June but it's worth noting that the losses today have only taken it back to its level five months ago.

Glencore and Anglo-American mining companies both closing in on 60% declines over 12 months:

http://i.imgur.com/aZ8pRSc.png

May mean people stop stealing railway lines and telephone cables for scrap, though.

IT IS HAPPENING AGAIN

now's the time to buy
assuming you have any money left

http://cdn.history.com/sites/2/2013/11/stock-market-crash-of-1929-newspaper-AB.jpeg

Good luck bnw

Buying in a falling market is great because at least you can always say buying today was a better decision than buying yesterday.

my brother called me last week with a stock tip and it's up 15% today

Is it some kind of ultrashort etf?

Market taking bnw advice

lol true. But I wouldn't be surprised to see another big dump before close.

https://pbs.twimg.com/media/CNLXnSkWgAAZQMK.png

Dan Davies
‏@dsquareddigest
what is happening today is called "a liquidation". Chinese policy has caused a large scale sale of securities portfolios for cash. So ...
5:29 AM - 24 Aug 2015

Dan Davies ‏@dsquareddigest 3h3 hours ago
... you don't buy anything until you know that the liquidation is close to having been completed. In fact you might even sell to raise cash
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Dan Davies ‏@dsquareddigest 3h3 hours ago
There is nearly always some sort of public piece of news that will tell you that the liquidation is ending. So watch headlines, not prices
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Dan Davies ‏@dsquareddigest 3h3 hours ago
Alternatively, you can just sit tight and come back in a month or so when the prices will have stabilised anyway
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Dan Davies ‏@dsquareddigest 3h3 hours ago
China is a massive creditor that is liquidating, not a debtor that is defaulting. I don't think this can turn into a crisis like 08
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Dan Davies ‏@dsquareddigest 3h3 hours ago
There's nothing to change your beliefs about the intrinsic value of financial claims - they just need to find new owners.
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Dan Davies ‏@dsquareddigest 3h3 hours ago
These are the conditions in which smart people with good risk management make a killing. A genuine crisis is when smart people get blown up.
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i enjoy these plunges since i had to shave my 401k down to the nubbins

xp oh yes, the #stockpitches come out in full force at times like these

Everybody's selling to pay for their Ashley Madison divorces.

lol the NASDAQ is now only off .3%. Whatta day we're having so far.

So far it looks like greed has the upper hand over fear in the US markets.

greed runs in both directions

i dont understand the stock market but dan davies is good i trust him

I don't know if he's right or not, I just know that there are always very strong-sounding arguments why this time it's not a crisis, whether or not it's actually a crisis.

An email from Tim Cook to “Mad Money” television host Jim Cramer helped save Apple nearly $80bn in its market value amid the China-induced slide on global stock exchanges yesterday.

After the company’s stock started the week 10 per cent down following a “Black Monday” for Chinese equities, Apple’s chief executive insisted in a rare intervention that consumer demand in Apple’s most important growth market remained “strong"

The world’s most valuable company clawed back $78bn in market capitalisation it had lost earlier in the day.

Seems legit.

In that set of tweets from dan davies, most seem to me fairly sound. The most perceptive one imo:

"China is a massive creditor that is liquidating, not a debtor that is defaulting."

But the next one bothers me:

"There's nothing to change your beliefs about the intrinsic value of financial claims - they just need to find new owners."

It's that word intrinsic that needs examination. During a liquidation of assets and the process of finding new owners, financial claims on the future are revalued against currency (which btw is 'currency', because it is currently liquid). He is simply asserting there is no reason to change one's beliefs, but those beliefs about the future are what set the value of those claims on the future, not some intrinsic value. The future is not realized.

This assertion seems muddled and without an evident basis.

Surely the revelation that Tim Cook is taking any kind of financial advice from Jim Cramer will cause Apple stock to plummet.

I feel like this slide is a response to lack of faith in the chinese's tinkering with their economy.. at least thats how I see it. I dont trust these dudes to make good decisions after the economic run up was fueled by building a bunch of ghost towns and gigantic empty apartment complexes all across china.

xp aimless i think this tweet clarifies

Dan Davies ‏@dsquareddigest 6h6 hours ago
A liquidity crisis isn't "just" a liquidity crisis - they can be the worst thing there is. But it's not the same as a fundamental crisis
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the economic run up was fueled by exports not building gigantic apartment complexes. one of the problems is they can no longer rely on export led growth (to maintain previous insane growth rates) and need some domestic demand

was fueled by building a bunch of ghost towns and gigantic empty apartment complexes all across china.

― panettone for the painfully alone (mayor jingleberries), Monday, August 24, 2015 2:43 PM (7 minutes ago) Bookmark

not a fair read of the economy

double rainbow chart pattern forming

Shanghai Composite down another 7.5% today. I don't think there will be a huge knock-on effect in Europe and the US immediately, though.

European exchanges are all rising. Could see Chinese exchanges falling again tomorrow and for the rest of the week. As someone pointed out on Twitter, there was no good reason for them to grow 150% - 180% over the course of the last eighteen months so no reason for them not to fall back over the next few weeks. It's unlikely to be hugely catastrophic for the economy as a whole but the bubble seems to have been caused in large part by the Chinese government encouraging small investors to plough cash into the markets. You're going to get a lot of individuals who have borrowed money to invest completely wiped out.

I'm more concerned about the end of ultra low rates than I am about China. I think China is just sparking panic because people are already on edge for other reasons and any catalyst could have set the markets off. I'm guessing there will be a lot of ping ponging between panic and relief in the coming months.

lol