Will the stock market crash (June 24 2016 Update)?

[MU82]

Yep.  Even at 53, I know that this slide will someday look like the housing bubble or the dot-com bubble.  And the stocks I'm buying now are on sale.  The worst possible strategy would be to sell right now.

And anyone who is 60+ should already have a decent enough portion of their portfolio in bonds and fixed income products that they can ride out your first few years of retirement from assets that haven't been temporarily devalued.

Great point.

Look at a 50-year chart. 1987 and 2001-02 and 2008-09 look like little blips. You can't even see the 20% corrections like we had in 2013.

Buy great companies at good valuations. Hold. Reinvest dividends. Keep holding. Live happily ever after.

There are only so many Heisys who can predict every up and down. (And I'm really not mocking him. If he really thought to short Big Oil in 2014, he gets my props.)

[MU82]

Dead-cat bounce the last coupla days, or something real?

[Tugg Speedman]

Now What?

[Coleman]

Now What?

Some volatility for a little while.

Life goes on.

[muwarrior69]

Now What?

Wait for the dust to settle; then buy at discount prices.

[jficke13]

Now What?

Mostly, this just unwound the "we thought they would stay in" rally we had the last few days.

Sound and fury signifying not all that much.

[ChitownSpaceForRent]

Question, is this a good or bad thing for me, as I will be living in London for a year starting in September. For the short term, I think my money is going to go a lot further than it would have a week ago but I don't think I'll be staying out there after to find a job anymore.

[Lennys Tap]

Question, is this a good or bad thing for me, as I will be living in London for a year starting in September. For the short term, I think my money is going to go a lot further than it would have a week ago but I don't think I'll be staying out there after to find a job anymore.

If you're going there as a student with U.S. dollars in your pocket everything just got considerably cheaper. If you're working and getting paid in dollars that's really good too. Hard to say about the job part - a lot can happen in a year.

[mu03eng]

If you're going there as a student with U.S. dollars in your pocket everything just got considerably cheaper. If you're working and getting paid in dollars that's really good too. Hard to say about the job part - a lot can happen in a year.

We literally don't know whether it is good or bad for at least two years. Practically speaking there should be no changes for the next two years and the changes beyond that have to be negotiated between the UK and the EU.

[Tugg Speedman]

Mostly, this just unwound the "we thought they would stay in" rally we had the last few days.

Sound and fury signifying not all that much.

So the second largest country in the EU wants to leave and you think it means nothing?

Why is that?

[MU82]

My portfolio, which is mostly proven, blue-chip, Dividend Growth stocks but also includes bonds and cash, lost 0.9% today.

Compare that to the S&P 500, which lost 3.6%.

That's why I'm not sweating. I'm a conservative, long-term investor, not a trader. I don't listen to market noise or panic every time a "black swan" flies somewhere in the world.

[4everwarriors]

My portfolio, which is mostly proven, blue-chip, Dividend Growth stocks but also includes bonds and cash, lost 0.9% today.

Compare that to the S&P 500, which lost 3.6%.

That's why I'm not sweating. I'm a conservative, long-term investor, not a trader. I don't listen to market noise or panic every time a "black swan" flies somewhere in the world.

Yeah but, .9% of $10 mil is still a hellofa lotta cabbage, ai na?

[warriorchick]

My portfolio, which is mostly proven, blue-chip, Dividend Growth stocks but also includes bonds and cash, lost 0.9% today.

Compare that to the S&P 500, which lost 3.6%.

That's why I'm not sweating. I'm a conservative, long-term investor, not a trader. I don't listen to market noise or panic every time a "black swan" flies somewhere in the world.

But you looked. 

I didn't even do that.  I have people I pay to worry about that stuff for me.

[4everwarriors]

Hopefully you're drivin' ta work and dere not taken da bus, ai na?

[Jay Bee]

But you looked. 

I didn't even do that.  I have people I pay to worry about that stuff for me.

So you don't monitor the work of those you engage?

[naginiF]

But you looked. 

I didn't even do that.  I have people I pay to worry about that stuff for me.

Exactly my opinion.  We meet quarterly - in person twice a year and on the phone twice a year (to JB's point).

I will tell you that our main guy sent out a 'how you should think about Brexit' letter today so i'm guessing he had a number of his other clients calling him today.

[Dr. Blackheart]

Went to more of a cash position last week.  Time to buy.

[rocket surgeon]

     BLUE-LIGHT SPECIALS!!  this has to strengthen the market in the long run-especially as a few other countries are looking to leave the EU as well.  nothing wrong with having a say in your own biness.  it's bringing things back closer to home and getting rid of the liabilities before they really come home to roost 

[warriorchick]

So you don't monitor the work of those you engage?

Not on a daily basis.  I want to spend their time managing my stuff,  not talking people off the ledge.

[brandx]

Exactly my opinion.  We meet quarterly - in person twice a year and on the phone twice a year (to JB's point).

I will tell you that our main guy sent out a 'how you should think about Brexit' letter today so i'm guessing he had a number of his other clients calling him today.

Same here. I could care less about daily fluctuations and don't rush to check every time the market jumps or drops.

I pay someone to do that and like you, we get together quarterly.

JB was being his usual self - assuming anyone who doesn't follow his model is an idiot.

[vogue65]

Not on a daily basis.  I want to spend their time managing my stuff,  not talking people off the ledge.

Aren't we getting dangerously close to political talk?
Is everything political now?
Globalization on the march, the result of WWII and Boeing.
The dollar is stronger, come visit Italy, fly Boeing.
Buy American, sell British, no need for high priced number crunchers.

[GooooMarquette]

Now What?

Same as every time stocks take a dip. The ones I'm buying now are on sale. They will come back.

[MU82]

But you looked. 

I didn't even do that.  I have people I pay to worry about that stuff for me.

Some people do their own plumbing. Some do their own painting. Some do their own house repairs. Etc.

I hire professionals to do most of that (or am happy when Mrs. MU82 does it).

I happen to enjoy doing my own investing, and I happen to think I'm pretty decent at it. I also like that I don't spend money paying others to do it. Plus, I write about investing for a large Web site, and the research involved keeps me sharp and helps me as an investor.

We all have stuff we're good at and enjoy doing, and stuff we'd rather pay others to do.

[brandx]

Some people do their own plumbing. Some do their own painting. Some do their own house repairs. Etc.

I hire professionals to do most of that (or am happy when Mrs. MU82 does it).

I happen to enjoy doing my own investing, and I happen to think I'm pretty decent at it. I also like that I don't spend money paying others to do it. Plus, I write about investing for a large Web site, and the research involved keeps me sharp and helps me as an investor.

We all have stuff we're good at and enjoy doing, and stuff we'd rather pay others to do.

I've read some of your articles and it's pretty obvious you are quite knowledge able on the subject.. Makes a dope like me feel much better about paying someone else to do it.

[Tugg Speedman]

The Tories (Conservatives under Cameron) and Labor (under Corbyn) were both in favor of remain.  It lost and Cameron resigned and Corbyn is on his way out.

Simply Amazing.

To appreciate this ... imagine the US had a referendum yesterday and the democrats and republicans both supported it.  It lost and today Obama resigned and Paul Ryan is excepted to resign in the coming days.

That is the political earthquake that hit the UK/EU. 

You'll be telling your grandchildren about this event and what is coming next.