An Open Letter to "The Market" in advance of Monday's Opening
This discussion thread was locked as off-topic by A HERETIC I AM (a host of the Personal Finance and Investing group).
(X-post from GD)
For many years we small, independent, individual investors have listened to pundits tell us in times like this "Don't panic", "Leave your money invested for the long term", "The Market will 'bounce' back", and other such platitudes.
In the meantime, as last week shows, you, "The Market" are utterly incapable of taking your own advice. The ONLY reason the market swayed by 2000 "points" last week is your PANIC.
You, just as the rest of us, have been able to predict this financial crisis along with a medical one since the movies "Virus", "Outbreak", "28 Days Later" and others were released; since the financial effects of the AIDS virus on one particular community, mine, became obvious; since the beginning of this COVID-19 outbreak in NOVEMBER.
And yet now 3-4 months in, in true Republican fashion, because it's affecting your own families and your own addiction to money, you are severely messing with all of our financial futures.
I am 63, non-symptomatic, so-far, but in multiple other high risk groups, therefore I may never get to enjoy my retirement. There are multiple reasons for that, one of which is financial. My 401K lost 50,000 this week. My independent accounts went down by more than 10,000. No, you, the MARKET will not bounce back for me (or many others in my position), or if it does, it will do so at a rate more commensurate with the gravity coefficient of Pluto, than that of Jupiter which is what us older people need.
I get it, your bonus comes from your 'clever' manipulations of The Market. Producing nothing, you, play with OUR money, whether or not you're actually doing it on our behalf. You will not look so clever when the money you stole from the rest of us doesn't buy you the food you need, the electricity you need, the clothes you need. It may not even get you to work. It certainly won't help all the small business and one-unit landlords who have gone into foreclosure because their tenants lost their jobs and couldn't pay the rent, so we couldn't pay the mortgage.
Market members, you need to start being part of the solution, rather than adding to the problem with your own greed and herd panic mentality.
Even better you need to follow the advice you give to us small investors and stop being so hypocritical.
Even better, you need to invest those billions of commissions in industries that need to stay afloat to keep all of us alive, and in sectors that can improve the situation for all of us. AND Tell us what those are so, if we have cash available, we can help those industries and maybe ourselves into the bargain.
While I completely understand the sentiment you are trying to convey, this group is not really the place for editorializing.
Please note the groups statement of purpose on the About this group page;
I see that you cross posted from GD, but if I may suggest you post this in the Economy forum, as that forum tends to cover a broader range of economic topics.
Again, I understand your point but this group is not the place for this sort of essay.
I respectfully ask that you delete the post.
Thanks in advance for your understanding
A HERETIC I AM, Group Host
Its been several hours since I put up the post above and the member has not responded.
I really dont want to have to do this sort of thing, but this is exactly why I sought the assignment as Host of this group in the first place.
While I understand the OPs frustration, the text is just full of misinformation, misunderstanding, hyperbole, exaggeration and displays a rather dramatic lack of understanding of how Stock Markets and those he seems to accuse, operate.
This sort of thing is perfectly fine for GD or even the Economy forum, and the OP should sonsider re-posting there if he wants some interaction with readers.