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Personal Finance Thread

vcs

Well-known member
been considering buying some stocks lately. mainly blue chip stocks whose prices are down now due to the virus.
I don't see things picking up to their pre-COVID levels for quite a while yet. I would go for companies building remote work/networking/virtual presence and similar sort of technologies. Their shares have probably already shot up though.
 

Daemon

Well-known member
I don't see things picking up to their pre-COVID levels for quite a while yet. I would go for companies building remote work/networking/virtual presence and similar sort of technologies. Their shares have probably already shot up though.
Yep. Look at Zoom and Citrix for instance.

I think Oil is worth a look right now, even if there are talks of prices going to single digits when we run out of space to store the damn thing. I wouldn't touch any small-mid size players in the market though, maybe ETFs tracking the actual commodity or one of the big boys like Shell/BP etc.
 
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silentstriker

The Wheel is Forever
Convinced my wife to let me put some money into an index fund when the markets started going down.


Crashed the next day. She is not happy.
 

CricAddict

Well-known member
Hope you guys are all holding up well.

Seeing some really depressing stories right now about people (mostly small business owners and freelancers) who're getting wrecked financially.
I trade actively and quite high risk. I am good for now and have actually gained some money both in stocks and crypto in the dead cat bounce post the crash. But my brother runs a business on his own and has got badly hit by this :(
 

Daemon

Well-known member
There will be some reflection on how to better diversify supply chains not just for large corporations but also on a national scale. Probably a kick up the ass for SMEs to quickly adopt digitisation as well. Governments might stop looking at helicopter money as a fringe policy.

It probably won’t change life as we know it but theres impetus to have some change for sure.

I’m more or less talking out my ass and experiencing my first major recession though so I wouldn’t be surprised if I’m way off the mark.
 

sledger

Spanish_Vicente
There are business models that will be completely killed off by this. There is absolutely no doubt in my mind about that whatsoever.
 

sledger

Spanish_Vicente
And this observation relates heavily to social issues, rather than those that are purely economic or whatever. When not working in an academic capacity, I do quite a bit of consultancy. I wouldn't be at all surprised if that the face-to-face method of delivery I've pretty much always adopted is probably gone now, or at least will be massively scaled back. The upshot of the current situation, once the worst of it comes to an end, is that people will be travelling less, working from home more, and (I expect) have much reduced enthusiasm and appetite for meeting strangers. What this all equates to, is basically the end of my current way of doing things.

This is not necessarily a bad thing at all tbh. But it will be a change, and a big one at that. For me, and for loads of other people, it will not be a case of simply shifting everything online (although that will be a big part of it), but to create entirely new services and products etc. that can be delivered online. Using Zoom/Teams/Google Hangouts or whatever will not be as fun as the traditional way of engaging people, but it is the future.

There will of course be a need to maintain face-to-face interaction for all sorts of things, because some things just can't be delivered/communicated as effectively online. Teaching, the other big part of my job, is one such example. But these things will be more and more scaled back and/or done differently. The idea that everything will go back to being "normal" is absolute pie in the sky.
 

Flem274*

123/5
i hope you're wrong sledger. if more physical isolation is thing we get out of this along with recession, it's pistol in mouth time.

introversion and solo activities are great for regaining energy but i know from experience i go insane if i don't have anyone to annoy.
 

nightprowler10

Global Moderator
Man, you guys and your investing. Here I am just happy that my father isn't crushing me with any more crippling debt. I just invest enough to get the company's 401(k) match (plus a bit more) and never look at it again.
 

Burgey

Well-known member
I’ve managed to keep the entire Burgey Team employed, for which they are rightly very grateful.
 

Daemon

Well-known member
Only because the governments paying their wages.

Which actually means all the Australian posters’ tax dollars are being used to fuel TBT and his posting.
 

honestbharani

Well-known member
Interesting thoughts. I am sure consulting will not be the same again and also the IT services sector will see how much more they can scale down onsite presence. Personally, I feel it is the travel tourism and hospitality industry that will take the biggest hit though. It really survive on people basically splurging and it is gonna be very rough for them to bounce back from this. The social media age has played a great role in getting this industry scale some amazing heights but that is pretty much gone now. I feel even the education sector may take a hit with lesser number of students ready to go overseas.
 
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