Supposed Businessman Doesn’t Understand Stock Market

A deleted tweet by a moron

Proving once again that he knows nothing about nothing, Biff implied via Twitter that if your 409K [sic] wasn’t 70%, 80%, 90% up that you are doing something wrong. This is not true.

If you are fortunate enough to have some money socked away for retirement, and you are invested in some low-cost market-tracking index funds, you are probably doing well in your 401K. Depending on your age, you could be up 40-50%.

There is no way a responsible investor would be up 70%, 80%, 90%. The level of risk required to garner that level of return is not advised. You would have to be a brilliant stock picker who went all in and won. Even the experts know this is generally futile. Ask John Bogle’s ghost. Also, your 401K plan would not allow this, as they have a fiduciary responsibility to provide balanced allocations.

If you’re lucky enough to have pennies to save, at least save enough to get your company’s match. If you’re young, time is on your side; while there may not be a planet or retirement when you are older, it doesn’t hurt to plan ahead anyway.

If Trump had put his inheritance from his father into the broad stock market, instead of fucking around with real estate, he would have ended up significantly wealthier. He might even be an actual billionaire.

Oh, and BTW, the stock market under Trump is still not performing as well as it did under Obama.

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11 Comments

  1. It’s hard for me to really narrow down the things I hate most about this man, but his ability to bully himself into prominence and wealth (which, as you point out, COULD be higher) really fucking pisses me off. He is such a poster child for failing upwards it’s hard to believe he’s real. 2016 was such a textbook example of incompetent man getting the job/promotion/raise/accolades over an incompetent woman because she is seen as bossy and weak, you couldn’t have made it up any more perfectly.

    So the insult of him having so much, and now the highest office in the land, not despite incompetence but despite literal self-sabotage…the insult is hard for me to bear.

  2. Reading that tweet, the first thing that stood out to me is WHY ARE WE YELLING, BOOMER? The second thing: 40…9? LOL. If that isn’t proof of privilege, I don’t know what is. I’m not even American and I know it’s a 401k. Must be nice to not have to think about money enough to get that wrong.

  3. I’LL TELL YOU WHAT I’M DOING WRONG! I’M INVESTING IN LOW COST INDEX FUNDS SO I DON’T GET MY ASS HANDED TO ME WITH THE NEXT CRASH THAT IS COMING JUST AS SURELY AS EVERY OTHER ONE HAS! I ALSO HAVE AN HONEST-TO-GOD PENSION, SO FUCK YOU SHITBAG.

  4. there is just a lot of fuckery to decompress in that one tweet. Not sure which is worse the 409k thing or thinking that anyone would be reckless enough to invest their retirement into anything volatile enough to have those kinds of returns. Just so much stupid.

    • …the levels of unbridled stupid on display in the current administration surely have to be making a bid for inclusion on the list of super-dense materials – & it exists at room temperature, even…sadly however I fear it is clearly too volatile (far from being as stable as advertised) & very likely combustible so probably no more use on an industrial scale that on a presidential one?

    • Let’s, for fun, take a look at the top 5 performers in 2019 in the S&P 500. Which basket is the one where all your eggs go, eh?
      1) Advanced Micro Devices
      2) Lam Research
      3) KLA
      4) Target
      5) Qorvo
      6) Chipotle
      And I included the last one because, yes, I think it’s a grand idea to let it all ride on e coli central!

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