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  1. #1 Correlation does not equal Causation 
    Ancient Fire Breather Retread's Avatar
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    Andrea Pescatori, an economist at the International Monetary Fund (IMF), attempted to test this theory in 2008.2 Pescatori measured changes in the S&P 500 as a proxy for stock prices and crude oil prices. He discovered his variables only occasionally moved in the same direction at the same time, but even then, the relationship was weak. His sample revealed that no correlation exists with a confidence level of 95%.

    Iíve seen that claim a hundred times and just shook my head. Finally someone put the pencil to it and proved it. The price of oil affects transportation and jobs, not much else.
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  2. #2  
    Senior Member Tecate's Avatar
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    I really need to work on planning for retirement. Itís been bothering me.
    Itís not a civil war until both sides show up.
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  3. #3  
    Ancient Fire Breather Retread's Avatar
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    Quote Originally Posted by Tecate View Post
    I really need to work on planning for retirement. Itís been bothering me.
    Iím not selling anything as noted by ďsearch for the freeĒ phrase. Otherwise, this is my all-encompassing recommendation.

    Spend 99 cents in the Kindle store or search the web for the free PDF version of:
    If You Can: How Millennials Can Get Rich Slowly
    by William J Bernstein

    This is kindle offering which the good Dr Bernstein says he would make available free if Amazon would allow it. A kindle is not required as free kindle readers are available for Windows, iPads, iPhones, Android etc. as is Adobe Reader for PDFs.

    There are a lot of additional reading assignments included in the book that, for the most part, are available through your local library although you may find you really want your own copy of some of them.

    Of primary interest is, after that first 15 minute read, you can create your own investment account and invest your initial learnings all in the next 15 minutes after the account is open.

    Somewhere in your next 1 to 3 days after finishing this book, search out the online information provided by Scott Burns. Google "couch potato investing" and do your own calculations regarding the results he presents.

    It truly is not about being a brain surgeon or a rocket scientist but about being determined to evaluate risk v reward, the damage of excessive expenses and a firm hand on the wheel.

    Do not be a trader but rather an investor.

    Don't follow the hot hand.

    Re-evaluate and rebalance regularly.
    It's not how old you are, it's how you got here.
    It's been a long road and not all of it was paved.
    . If you ain't havin' fun, it's your own damn fault
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  4. #4  
    Senior Member Tecate's Avatar
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    I’ve been debt free since 2006 and “save” cash big time. My mistakes? Lack of management. Too aloof about it all. I need to become more focused on the task at hand.

    On edit: I thought about starting a retirement planning thread, and procrastinated.
    Last edited by Tecate; 09-26-2020 at 05:45 PM.
    Itís not a civil war until both sides show up.
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  5. #5  
    Pork eating infidel old dog's Avatar
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    My 2 cents: Fear and greed are the primary forces driving the market.
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  6. #6  
    Senior Member Tecate's Avatar
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    Quote Originally Posted by old dog View Post
    My 2 cents: Fear and greed are the primary forces driving the market.
    Fear and greed drive the markets every single day, but it isnít the sports fan sitting on his couch with his baseball cap turned around backwards. Perhaps in the next couple of days, Iíll start that planning for retirement thread. Iím sure there are some great minds here, and perhaps some younger folks who can pick up some tips. Iím just not in the right mood tonight. I thank Retread much for his insight. My oldest friend hired someone to manage his. I donít know.
    Itís not a civil war until both sides show up.
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  7. #7  
    Ancient Fire Breather Retread's Avatar
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    Get your thread started and several of us can contribute what we went through and what went right and wrong.
    It's not how old you are, it's how you got here.
    It's been a long road and not all of it was paved.
    . If you ain't havin' fun, it's your own damn fault
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  8. #8  
    Pork eating infidel old dog's Avatar
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    Quote Originally Posted by Retread View Post
    Get your thread started and several of us can contribute what we went through and what went right and wrong.
    I could tell you what NOT to do but I don't want to make you cry.
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    Handle every stressful situation like a dog: If you can't eat it or play with it just piss on it and move on.
    *****************************************

    The United States Navy, fighting Moslem barbarians since 1801.

    *****************************************
    ďThere are decades where nothing happens; and there are weeks where decades happen.Ē Vladimir Ilyich Lenin
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