I have invested a fair bit in spaceship and it has been steadily declining since the start of the year. I'm getting worried as this is my life savings. Anything using them, how are you coping with this decline?
Thoughts on Spaceship Decline
lightfoot on 09/03/2022 - 16:22
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So what, every time I go to fetch eggs from my chickens that I should carry twenty different baskets to carry an egg in each?
Correct… it decreases risk…
Decreases the risk of losing all/multiple eggs due to dropping, but increases the risk of any egg being dropped.
@Chandler: Most people don't mind the chance of losing one or two eggs, can still make an omelet, but don't want the risk of losing all eggs at once…. Thus the saying…
@jv: True. I was just highlighting that only stating it decreases risk isn't the full picture, because you are increasing your risk of dropping something.
@Chandler: no, that's not how risk works.
You're increasing the likelihood but decreasing the severity
@Chandler: if you want to take things literally to ridiculous levels then technically it doesn't increase the risk of dropping if you have suitable carriage devices at which point we are wondering why tf we are carrying eggs in baskets in the first place
But even if I drop my entire basket of eggs, some may survive
Your next post "Collected all the eggs from my chickens and put them all in one basket. Tripped up on the way back to the house and dropped the basket. All eggs are now broken. Nothing for breakfast. How do I get the basket company to give me compensation for all the lost eggs I put in a single basket?"
Depends if the basket company provided adequate protect for the eggs that the basket is designed to carry.
House chickens in the kitchen.
Just above stove, the egg goes straight into the pot, while the chicken is slow cooked. Win win.
Well maybe not for the chook…
or… don't put all your eggs in one spaceship (I'm looking at you.. Elon)
A co-worker was laughing at me for having my savings in 3 different banks (in case one goes under). They just don't get it :(
Agreed I don’t talk to closed minded people about finances. I’ve got money spread across shares, crypto, banks, etc etc.
Either you have over half a mil in savings or you don't know about the financial claims scheme that guarantees $250k per account holder per institution. Of course that's never actually been put to the test and the government isn't likely to let any of them fail and will just bail them out anyway.
I have an offset account with my wife, savings account which I don’t use, St George bank for Cardless withdrawals (never used it as 99% of places I go to accept card) and multiple neobanks so you don’t actually know idonotknowwhy situation or others.
True, but the unexpected might happen. Probably a few unhappy peeps who can't access/lost their money in Russian accounts right now.
Yeah but I don't want to be without the money for however many weeks/months it takes for that to kick in.
I'd be laughing at your for keeping cash as inflation eats it away.
Just my 4 months living expense / car repair buffer man.
Banks have guarantees so you literally cannot lose your money though, so I don't think it's them that doesn't get it.
Or one spaceship.
Haven't used Spaceship but it's just a fund right? Investing in share market? If so it's not Spaceship that's down, it's the market. In my completely uneducated view it's temporary, just like every market downturn in history. As long as you don't need the funds in the immediate future try to just ignore it.
^^^ This.
If you're investing, learn what you are investing in, and the factors that influence the price to go up and down. Eg. War in Ukraine, interest rates
Correct but depends on the dip, it took nasdaq 19 years to recover to the peak it was before the dot com bubble, so the risk is there even for long term investors
Dips are for buying and rips are for selling.
You make it sound so easy. It isn't.
You make is sound so difficult. It isn't.
You just got ‘rektrading’.
Cut back on KFC and DCA when prices are cheap.
You invested in a spaceship and it hasn't 'taken off'?
Spaceshuttle Challenger
"O" wow, I see what you did there
Need Another Seven Astronauts?
easy to find, they're all over Florida
Can you give an idea of the amount?
Either you can cut your losses but generally the market is quite down at the moment, so maybe wait for a couple of months.You've not anything but time worrying about numbers on the 💻.
It would be good to practice patience, take a seat and chill.
Nice flex, but what if $2k is in fact the portion of OP's life savings put into spaceship? They may have worked on their savings as hard as you did on yours (assuming you did work hard on yours) so no need to laugh at the number. Loosing "everything" seems to still be OP's legitimate concern.
Nice flex, but what if $2k is in fact the portion of OP's life savings put into spaceship
And I will refer you to the next sentence in relation to $2K being their lifesavings if they are so worried. If you only have $2K to invest and are worried, then it is clear that you have invested more than they could afford to lose and simply expected numbers to go up. Or are you disputing this fact?
OP also fails to understand that there is volatility right now across markets and it is not isolated to Spaceship.
It would appear you invested more than you could afford to lose
@Lucille Bluth: Actually they said 2K in losses. Given that the market is down about 10% since it's highs then I'd say they probably have about 20k-50k invested.
I understand its not nice to see your savings go away like this, but in the grand scheme of things 2k isn't a big amount. Now, I am not a financial advisor but share markets require patience and if you wait for sometime, it will get better.
$2k lost?
So you sold your stake?
Or are you lying & just saying that the current market value is down $2k ?
They obviously mean loss in value, tactless.
You haven't lost until you sell. Just enjoy the ride and ride the wave 🏄
What did you expect? The market is in decline, why would spaceship be any different? Surely you did research on this before putting your life savings in?
Normally the share market is quite hard for people to understand which is why ETFs were invented. ETFs in itself reduce the risk of individual investors picking stocks based on 'their' knowledge.
Obviously the risk is lower with ETFs as you're investing in a broad range of stocks in the underlying, but it is no guarantee of performance especially past performance of a fund. Spaceship i believe is concentrated on IT growth stocks and we are seeing a downtrend with that sector.
I think for the orginary citizen they would only look at oh look 40% returns, but not take into the fact that the fund started at the bottom of the market thus generating exceptional returns over a year.
What did you expect?
What can anyone expect in these times?
They can expect that the market will go down.
Share markets across the world are currently on a rollercoaster ride (Covid recovery, Ukraine crisis). I am not surprised that Spaceship funds are also declining. If you are a new investor, this is probably a good time to get in. For a person like you (and me) who are already investing in Spaceship, I reckon the values will eventually go up. I am currently on a $20 fortnightly plan, but I plan to keep this unchanged for now. As others have said, don't put your eggs in one basket. This advice may be coming too late for you, but if you are actively investing, I suggest you also look at other investment options such as shares, managed funds, property, etc. In doing so, you are spreading your risk. This is not financial advice, so please study and review your options that suit your financial goals and risk appetite.
This is not financial advice, so please study and review your options that suit your financial goals and risk appetite.
Spoken like a true financial adviser
Share markets are in decline and you have invested in shares.
My suggestion is to not look at it. If you had an investment property would you get it revalued every day?
I thought spaceship was for small investments?
I'm down a couple of years pay since Xmas but have continued to add to my investments. Sometimes you have to ride out the storm and wait for the blue skies.
I'm down a couple of years pay since Xmas but have continued to add to my investments.
Ooft. You either have A LOT invested or you don't make a lot of money. (I suppose it could be both depending on what you're invested in!)
The global markets are down about 10% from their peak. How can you be down a couple of years pay? Also spaceship invests in fangs doesn’t it? I prefer to invest directly. These are almost speculative investments because P/I ratios are very high. One blip and their heat comes off. This is not diversification.
I've been investing since the late 80s. Total portfolio in and outside of Superannuation is equivalent to 16 pre-tax years of my FY20/21 pay which was my last year of full time professional work.
Super is down a years pay. Outside super is down 1/3 of a year. Apologies for the inaccuracy but it's been a big hit on paper.You make me feel better. I was up about a year's net pay, but now am only up about half a year's net pay. I know to sit and wait, I'd even put more in now if I had a significant amount lying around.
Holy moly so you actually got in near the ground floor for stocks. This downturn is nothing compared to the decades of great markets you've been lucky to get. Ride it out no sweat.
or YOLO everything into crypto coz we going to the moon babyyyy!!
Holy moly so you actually got in near the ground floor for stocks.
That is such a misinformed statement on so many levels.
On a personal level I have ridden it out through so many market downturns and corrections.
Oct 1989
Jul 1990
Oct 1997
Sep 2001
Oct 2002
GFC 2007/2008
May 2010
Aug 2011
Aug 2015
Feb 2020You do realise that Australia has had a stock exchange since 1859? Now that would have been getting in on the ground floor.
/facepalm They really do live among us.
@brad1-8tsi: Lol the downturns you’ve faced are nothing compared to the profits you’ve made. Stop having a cry sitting on your mountain of profit. Keep booming boomer.
Sadly you can't time the market. Look at covid.
Think how much you could of got off bank interest.
Bank interest? Accounting for inflation?
Of course, people can time the market.
Professional traders get can +60% of trades right.
@rektrading: A totally blind (to the market) trader, over time, should get +60% of trades right. The share market has it’s ups and downs, but smooth out the bumps and it’s been rising since it’s inception
A totally blind (to the market) trader, over time, should get +60% of trades right.
I don't understand when you say over time. At what time frame is over time?
Professional (share) traders are a classification under tax law.
How to determine if you are a share trader
Determining if you are a share trader is the same as determining whether your activities are considered to be carrying on a business for tax purposes.Under tax law, a business includes 'any profession, trade, employment, vocation or calling, but does not include occupation as an employee'.
To determine whether you are a share trader or a business of trading shares, the following factors have been taken into account in court cases:
the nature and purpose of your activities
the repetition, volume and regularity of your activities
whether your activities are organised in a business-like way
the amount of capital invested.
https://www.ato.gov.au/Individuals/Capital-gains-tax/Shares-…People who buy and hodl stonks over time are not professional traders unless they meet the classification requirement.
@rektrading: Jesus mate, “over time” meaning they might loose from today’s trade, but gain from tomorrow’s, next week’s and next month’s.
“over time” meaning they might loose from today’s trade, but gain from tomorrow’s, next week’s and next month’s.
I still don't understand your definition of over time.
What is the time frame between the open and close of their positions? What do you mean with loose from today's trade?
@rektrading: So 40% wrong. Fund managers are professional traders and rarely beat the index consistently.
yeah but its risk v reward - if you mess up one time you are down a lot.
Not sure why you get negged, I did the same thing with same results. Worldwide panic events are pretty obvious things that will affect the market.
Probably because people who claim they’re experts at timing the market are in the same category as those who claim to be experts at roulette
@BigBirdy: It has nothing to do with being an expert, and you don't even have to be good at timing. A worldwide pandemic panic was always going to tank markets, and they were always going to come back up. You sell somewhere on the downward, and buy back in at a lower point than that. You don't have to perfectly time the top or the bottom. Any difference is profit.
could have*
Someone is finding out that share markets go up and down.
Never put all your eggs in one basket.
Buckle up, it's going to be rough (although Australia again looks like will weather the storm better given our natural resources.)ETFS will go up and down. Our market has been on fire for the past 1.5 years since the initial crash, hype reigns supreme and then people pull out.
Who invests their life savings anyway on the market!?
Who invests their life savings anyway on the market!?
Who has ✌️👍👍 and ❤️ to BTFD.
Who invests their life savings anyway on the market!?
I yoloed at ETH at ATH 2022.
HAHA
It's not over yet…
Yep those who started investing only in the past 2 years have many lessons to learn.
Who invests their life savings anyway on the market!?
People who have time and an income.
Buy high, sell low. Isn't that what everyone else is doing?
I call it the reverse robin hood.
But the name guarantees it will go to the moon!!
look mate either DCA or just HODL - might not be today, or next month or even next year…but one day it might be OKAY (then hope to god you gain enough to cover those fees!)
or cash out now and buy in 12 mths when its bottomed out and make a fortune.
If the world ends tomorrow then you would have been better off spending that money on junk food and getting fat instead.
Well I’m already fat sooo
Damn lost $600. Thanks for reminding me to check OP. Now I'm tempted to cashout and run. Dont like the monthly "management fee" either.
Only lose if you sell Bruhz
remember if you cash out you capitalise your loss.
You'll need to invest to the market again while it is low to make sure you can recover.
Unless ATO cracks you down on wash-out sale.
Swap spot for derivatives.
Don't put all your eggs in one basket?