Denise Weiser, 65, of Alton, said that she and her friends came to Lumière even when her city’s casino, Argosy Alton, was opened. Light is his favorite place. She has called so often in the past few weeks, asking for an opening date, that “security knows my name now,” she chuckled.
While most private investors are horrified to see share prices plummet as it affects the value of their pensions and investments, others take a different approach.
Instead of getting upset as global indices plummet to a third, they now see it as an opportunity to buy stocks at much lower prices than before.
It may sound counterintuitive, but there is meaning behind the strategy, which has the backing of the world’s most successful investor, the American billionaire Warren Buffett.
He said investors should be greedy when others are afraid and fearful when others are greedy. “
With investors now frightened, his mantra suggests that the time has come to be greedy for bargain prices. The goal is to buy and hold over the long term, giving them years to recover their value. So should you buy today?
Elie Irani, 45, from Lebanon, who has lived in Dubai since 2006, says most of us like to buy things when they fall, but stocks are a rare exception.
People are excited when, for example, their favorite smartphone sells at a discount, but panic when the stock market goes down 30%, he says.
Irani, who works for a cybersecurity company and is a member of SimplyFI.org, a nonprofit community of investment enthusiasts in the UAE, says investors should keep a cool head because markets have been here before .
They fell during all the other major pandemics, including the Spanish flu of 1918, the Sars, the swine flu, the Ebola virus and the Middle East respiratory syndrome (Mers), but have always recovered. “Why should this time be different?” Asks Irani.
Shares may have dropped by about a third since the takeover of Covid-19, but dot.com crash in 2000, and financial crisis of 2008, they halved.
The market is not particularly cheap, by historical standards. Before the crisis, the S&P 500 traded at around 33 times its profits, an even higher valuation than before the Wall Street crash, according to the Shiller PE ratio.
By the close of trading on Friday, the index fell to 24 times earnings, but remains above its long-term average of 16.70 times earnings. During previous downturns, the Shiller index fell to a single digit.
Irani rebalances his portfolio of low-cost exchange-traded funds (ETFs) by selling part of his bond holdings, which increased during the crash, and using the profits to top up his falling stock funds. Indeed, sell high and buy low.
Another SimplyFI member, Mauricio Moura da Silva, 43, plans to invest a large lump sum to take advantage of today’s low prices.
The Franco-Brazilian IT consultant distributes his money over three low-cost ETFs: iShares Core MSCI World UCITS ETF, which invests in equities from developed countries; emerging markets fund iShares Core MSCI EM IMI UCITS; and iShares Core Global Aggregate Bond UCITS, which tracks a global portfolio of high quality bonds.
I’m investing for the long haul, so if the markets continue to fall after investing, that doesn’t worry me much, “said Da Silva, who has lived in Dubai for four years.” Over time, I should finish well ahead.
If you’re wondering if you should follow their example and invest in today’s hyper-volatile market, remember that these two investors are passionate, know the risks and the rewards, and are ready to take them. .
You should never invest money in stocks that you will not need for at least five years, and preferably several decades, as part of a strategy to create long-term wealth for retirement. Older investors who are closer to receiving their pensions should be cautious as they have less time to recover losses.
Stuart Ritchie, director of wealth counseling for AES International, warns against negotiating for short-term gain. When the market drops more than 20%, it takes on average more than 500 days to recover. Invest only if you take a long-term view, “he says.
Don’t panic or sell either. This will only lock in your losses and prevent you from recovering later.
“If you cashed in last Monday, for example, you would have missed the three-day rally that followed, which saw the S&P 500 climb 20%,” said Ritchie.
Any attempt to reconsider market movements will backfire, the best strategy is to sit there and see it, he adds.
Christopher Davies, chartered financial planner at The Fry Group, says that if you plan to leave your money on the market, short-term volatility is nothing to worry about, but should be seen as a natural part of the market cycle.
Those considering investing new money must accept that they are exposing their capital to extreme volatility. “Just because the market has gone down doesn’t mean it won’t go down further,” said Davies.
Also, don’t overestimate your own risk tolerance: if you lose your courage after investing, you risk selling before you can reap the rewards, he says.
Davies said nervous investors should consider pouring money into the market for several months to avoid being punished by another downturn. “The downside is that you will reduce the benefits of any market recovery during this period,” he says.
SimplyFI board member Demos Kyprianou says no one should invest before creating an emergency cash fund worth at least six months of spending. “If you don’t have this safety net, or if you fear for your job, now is not the time to buy,” he said. “You may need this money to survive.
Accept that you will never get exactly your timing, by buying at the lowest of the market. If the market is down 30%, does it matter if it has increased by 3 or 4% in recent days? You always get a big discount.
Mr. Kyprianou recommends balancing your equity holdings with bond funds. “If you’re young, you might want 80% in stocks and 20% in bonds. You could increase your bond exposure to 40% as you approach retirement.
One simple method is to combine a global equity fund such as the Vanguard FTSE All-World UCITS ETF with the iShares Global Govt Bond UCITS ETF, he says.
If the idea of investing in this market gives you sleepless nights, don’t do it. The crash could have continued.
Instead, Mr. Kyprianou suggests you watch the market and learn. “There will be other accidents. Just be ready for the next one,” he added.
In addition, some investors may have other financial priorities such as paying down debt or simply covering their bills until the crisis passes.
Warren Flay, 58, of New Zealand, who has lived in the United Arab Emirates for nine years, wants to take advantage of the relative strength of the United States dollar against its national currency, the New Zealand dollar. We are putting money into the mortgage on an investment property with us, to reduce it before the Kiwi recovers, he says.
When the opportunity arises, Mr. Flay, who works as a health and safety audit trainer, will focus on the stock market.
Meanwhile, orthodontist and Simply FI member Karthik Jayakumar, 42, urges investors to stay calm at times and avoid reckless decisions.
Jayakumar, an Indian national who has lived in the UAE since 2003, says that constantly tinkering with your wallet does more harm than good. “It’s like making a cake, if you keep opening the pan, you’re going to spoil it,” he adds.
If you are already investing a regular monthly amount, continue if possible and consider investing a single amount if you have money to spare.
Just make sure that you can leave the money invested for the long term, wherever the madness of the market is going now.
Updated: March 29, 2020 12:28 PM
Uber and Lyft suspend services in cities across the country due to protests
- Uber and Lyft have said they will suspend routes and deliveries in cities where curfews are in place.
- Over the weekend, Uber temporarily closed its doors in parts of California and Minnesota.
- New York, Los Angeles, Washington D.C. and others declared a curfew on Monday evening.
- The commendable scooters have also become a mainstay of the protests. Lime and Bird say they are removing vehicles from certain cities at the request of local officials.
- Visit the Business Insider home page for more stories.
Uber and Lyft said they are suspending transportation and delivery services in cities where curfews are imposed to discourage new protests like the ones that rocked the country last week.
In recent days, Uber has temporarily suspended trips and deliveries to Minneapolis, San Francisco, Oakland and Los Angeles.
“Our field teams work closely with each city to best support them based on their needs and the local situation,” an Uber spokesperson told Business Insider in a statement. “Some cities have asked to completely suspend operations while others want to make sure Uber is available for essential services. We also use the Uber app to notify drivers and drivers of city curfews and remind them that Uber should only be used for emergency purposes during this time. “
A Lyft spokesperson said the company “follows the direction of local government across the platform”, but declined to comment on future plans for its bike-sharing subsidiary, which operates in cities like New York. , Chicago, Washington DC and Minneapolis.
Micromobility – commendable bikes and scooters in cities across the country – has also become a pillar of protests.
Sunday, Capital Bikeshare, property of Lyft suspended service without warning as protesters converged near the White House. In Portland and Indianapolis, local news featured images of Lime scooters smashing store windows, and Dallas a widely shared video showed a Bird scooter used as a ram against a car windshield.
—Fox12Oregon (@ fox12oregon) May 30, 2020
A Lime spokesperson said the company was proactively removing its bikes and scooters from “selected” cities when recommended by local authorities. “Safety is our top priority and we are actively working with cities to balance this with the need for affordable transportation options,” they said.
Bird said it is also in contact with local offices in all of the cities where it operates and plans to adjust availability based on these requests.
On Sunday, cities in at least 15 states imposed curfews, and many are expected to impose similar orders throughout the week as protests continue. New York Governor Andrew Cuomo announced a curfew for the city, the world’s largest carpool, at 11 p.m. Monday. at 5:00 a.m. Lyft also operates Citibike in New York and Jersey City.
In some cases, such as Chicago and Los Angeles, public transportation has also been suspended under curfew rules, leaving night workers with few options for getting to and from work.
TILT Holdings Announces Results and Webcast Dates Canadian Stock Exchange: TILT.CN
The fourth quarter and fiscal 2019 results will be released on Thursday, June 11.
The results for the first quarter of 2020 will be published on Tuesday June 23.
CAMBRIDGE, Mass., June 01, 2020 (GLOBE NEWSWIRE) – Announcement by TILT Holdings Inc. (TILT or society) (CSE: TILT) (OTCQB: TLLTF), a fundamental cannabis technology platform including assets to support brands worldwide it will publish the financial results for its fourth quarter and its financial year 2019, which ended on December 31, 2019, after the close of the stock market on Thursday June 11, 2020, in accordance with the exemption announced previously. The Company will host a webcast with the investment community at 5:00 p.m. Eastern time on the same day.
The company will release financial results for its first quarter 2020, which ended on March 31, 2020, after the market close on Tuesday, June 23, 2020. The company will webcast with the investment community at 5:00 p.m. from the East on the same day.
A live webcast with the ability to ask questions and view the company’s presentation will be available in the Investor Events and Presentations section of the company’s website at https://investors.tiltholdings.com/ ir-calendar. Please visit the TILT website at least 15 minutes before the start of each call to register, download and install any necessary audio software. The webcast will be archived for approximately 30 days.
TILT Holdings serves cannabis brands around the world through a strong network of portfolio companies engaged in technological innovations that support long-term success. TILT serves more than 2,000 brands and retailers of cannabis in 33 states in the United States, as well as in Canada, Israel, Mexico, South America and the European Union. As a market leader in cannabis technology and related products and services, the main assets of the company include the wholly-owned subsidiaries Jupiter Research, LLC, a company that focuses on the vast potential of inhalation through innovative design, development and manufacturing, and Blackbird Holdings Corp. , a company that provides operational and software solutions for wholesale and retail distribution. The company also has cannabis operations in states like Massachusetts, run by Commonwealth Alternative Care, Inc .; and Pennsylvania, led by Standard Farms, LLC. Based in Cambridge, Massachusetts, with offices in the United States and London, TILT has more than 350 employees and has sales in the United States, Canada and Europe. For more information, visit www.tiltholdings.com.
Executive Vice President of Business Development
Tel: (303) 872-7255
Email: [email protected]
Tel: (480) 867-6090
Email: [email protected]
This press release contains forward-looking information based on current expectations. Forward-looking information is provided to present information about management’s current expectations and plans for the future, and readers are cautioned that these statements may not be appropriate for other purposes. Forward-looking information may include, but is not limited to, the timing of year-end and first quarter financial results, the timing of webcasting, management opinions or beliefs, the outlook, opportunities, priorities, targets, goals, permanent objectives, milestones, strategies and prospects for TILT, and includes statements regarding, among other things, future developments, future operations, strengths and strategy of TILT. In general, forward-looking information can be identified by the use of forward-looking terminology such as plans, plans or does not plan, is expected, budget, planned, estimates, forecasts, plans, plans or does not plan, or believes, or variations of such words and expressions or declares that certain actions, events or results may, could, could, could or will be performed, occur or be accomplished. These statements should not be interpreted as guarantees of future performance or results. These statements are based on certain important factors, assumptions and analyzes that have been applied to reach a conclusion or make a forecast or projection, including TILT’s experience and perceptions of historical trends, TILT’s ability to maximize value for shareholders, current conditions and expected future developments. , as well as other factors considered reasonable in the circumstances.
Although these statements are based on management’s reasonable assumptions as of the date of these statements, there can be no assurance that they will be fulfilled under the conditions described above and that this forward-looking information will prove to be accurate, as actual results and future. events could differ significantly from those forecast in this forward-looking information. Therefore, readers should not place undue reliance on forward-looking information. TILT assumes no responsibility for updating or revising forward-looking information to reflect new events or circumstances, unless required by applicable law.
By their nature, forward-looking information is subject to risks and uncertainties, and there are a variety of important factors, many of which are beyond the control of TILT, and which may cause actual differences between actual results and those discussed in forward-looking information. looking statements.
CSE has neither approved nor disapproved of the contents of this press release.
The casinos in downtown Saint-Louis and Saint-Charles reopen. And dedicated players return | Local company
A man, who gave Tony his name, said that he usually plays at the River City Casino in southern Saint Louis County, but he came to Lumiere because Saint Louis County did not authorized the reopening of River City or the Hollywood Casino at Maryland Heights. He thought that opening all the casinos at once could have spread people a little more.
The only other casino in the area that reopened on Monday was Ameristar St. Charles, the state’s largest and busiest casino. It had about 5.3 million admissions last year, more than 4.1 million and 350,000 more admissions to Lumiere than the state’s second busiest casino, River City.
After the doors opened at 11 a.m., a steady stream of people headed for the Amistar St. Charles game room. At noon, a few hundred people were on the ground.
It was the first time in more than two months that Gerald Parmentier, 81, and his wife had ventured from their home in Washington, Missouri. Before it closed, they visited Ameristar several times a week.
“Everyone is wearing a mask, or almost everyone,” said Parmentier. “It’s better than going to Walmart.”
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