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Comment by skybrian | Hacker News Reader

Best time to buy in a few months, but maybe the sale isn’t over yet?

It would have been, if all the major trading platforms weren’t having technical issues and nobody could login. They’re starting to get resolved now, but people missed out on a 3% increase by the time they did.

It would be interesting to see a list of which platforms failed, and which ones did not. Anecdotally, I read comments saying that "my adult brokerages are failing, but Robinhood is working."

It's pretty straightforward -- in the US, both Schwab and Fidelity were down, with Fidelity back around 10am ET and Schwab around 1pm ET

The tinfoil-hat-wearing part of my brain is saying there's a button these companies push to ensure that "ordinary people" get locked out of trade opportunities arising from such volatility.

It's certainly more likely it's unusual load knocking the services down. ("Never attribute to malice what can be explained by incompetence.")

They do have a saying about catching a falling knife at Wall Street. This is definitely not my expertise though, I'll let others comment.

What’s the wall street saying? The only one I know is that a falling knife has no handle. I’m curious if wall street traders think they can do it.

It's the flip side of btfd.

If you catch a falling knife (buy an asset whose price is falling dramatically fast) there's a chance that you'll get cut deep

Other thing said to me by then-CEO of Goldman (during my new trader / out of school training months / Goldman onboarding), he said "there's 3 ways of making it in this business: be smarter, be first, or cheat. Now, I don't cheat. And although I like to think we have a lot of pretty smart people in this building, it sure is a hell of a lot easier to just be first. "

The Schiller PE Ratio hit 36.1 3 weeks ago, with an EFFR of 5.33% (!)

It's still 33.6, and the historical average is 17.1, with an average EFFR of 4.61%

And the historical average didn't even have the (slight) headwind of boomer retirement plan liquidations that we have now.

So yeah, there's a long way to go.

I have been reading about it back since from 2009-2010's and Zerohedge glory times.

Redo your numbers leaving out the years before stock buybacks became legal. You'll get different answers (though we are still in wtf territory)

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