The average 401(k) balance rose by 466% since the market bottom in March 2009. https://www.cnbc.com/2019/05/09/401k-balances-skyrocket-in-the-decade-since-the-market-bottom.html
If there is a "holy grail" entry signal, this is probably it. More experienced traders knew this was the time to go all in. I recall Bush Jr. making a similar statement in the post 911 market which also saw the market lift off - most chip stocks doubled or trippled in the following months. Point being, when the market is at multi-year lows and the president tells the public buying now is a good idea, really is.
Well even those comments were considered controversial because what if the market had gone lower. Many thought it was irresponsible for the president to be giving stock market advice.
Prefacing any statement with "potentially" completely negates any accountability one has for that statement. If the market had gone lower,he was shielded by "potentially". If it goes higher,everyone calls him a genius because the media wanted him so badly to be a genius they constructed his entire character.
Yeah. Exactly. Should the president of the US be saying “ buy stocks now!”? Of course not. No financial advisor can say that. You are just anti-Obama so you are looking to criticize. If he didn’t say “potentially” and stocks did go lower you would criticize him for that.
What does he know. Guy is a community organizer and did nothing for 8 years. Prolly did America a favor with nothing. The only something obamacare is a headwind to the economy. The holy grail is not in the entry. 2 occurances even without ‘potentially ‘ do not make it statistically reliable. The minimum sample size is 30 The holy grail is in the ENTRIES. How many people reached financial freedom. By simply sticking with a 401k and blind monthly entries. Even if you count from 2000 with 2 major bears. Vs. how many have gotten rich from day trading.
Would you be defending if he was firm in his assertion and the economy went tits side up? And a constitutional scholar and professor of law
point 1 - the best thing he did was probably nothing.. tits side up is mostly the Fed's easy money.. but he put in nothing but head winds.. environmental regulations, obamacare... name 1 thing he did that is actually PRO-business? point 2 - I would never ask 'scholars' and 'professors' with zero executive experience to run even a company.. and he had to muddle thru 8 years, multiple disasters in foreign policies.
That is why next downturn will be the most painful one in history, that is if it happens of course. Some people do no say if but when. It has been instilled into our DNA that in the long run stocks go up, no one currently envisioning a situation where market could stand still for 10-20 years. Pure fantasy at this point.