Who gets more sympathy?

[OldWiseGuy]

Someone who has lost their home in a natural disaster, or someone of the same age who has lost just as much in a stock market downturn?

 

[Left]

In my honest opinion, those who invest that much in the stock market, should know there's a chance of losing it...

 

[OldWiseGuy]

In my honest opinion, those who invest that much in the stock market, should know there's a chance of losing it...

As well as those "who dwell carelessly in the coastlands"?

 

[Go Braves]

Don't know how much good sympathy would do in either way, unless it came along with some prayers & help. I agree that folks who invest in the stock market ought to know plenty well there's a chance of it being lost. There's a long history of that happening. Even with a good stockbroker and all that, losses can happen. Now with natural disasters like Harvey, that's a different story. Many of the folks who got their houses totally flooded did not have flood insurance on account of them living in areas that had never flooded before, and weren't considered to be at risk for flooding.

 

[pakicetus]

Someone who has lost their home in a natural disaster, or someone of the same age who has lost just as much in a stock market downturn?

This post's version of you should talk to the version from the "Why Aren't the Poor Getting Ahead?" thread.

 

[PreviouslySeeking...]

Um, the person who lost their home. That said, the sympathy is about what was lost and not value.

You lose your home in a natural disaster and you may be homeless and literally have no physical possessions beyond what you are wearing. Whatever was in the house may be destroyed and/or irretrievable. Photos, mementos, items of emotional and monetary value - all or mostly gone.

You lose money on the stock market- well that has always been a riskier investment than an owner occupied home. People feel sympathy, but the loss isn't seen as acute because that person may not have even lost the lion's share of their savings. For most Americans- the bulk of their assets is their home.

 

[dqhall]

Someone who has lost their home in a natural disaster, or someone of the same age who has lost just as much in a stock market downturn?

I lived in an area about seven feet above sea level. It was classified as a flood zone. I used to worry as they were always talking about rising sea levels. I decided if I ever moved, I would move to higher ground. I moved seven miles inland to a home that is about 17 feet above sea level. I do not have to worry about flooding.

In the 1990's a lady friend of mine got me into penny stock investing after being a devoted fan of a stock promoter radio talk show host. It was the first stock I bought. I lost most of my life's savings. The radio talk show host who falsely promoted the stock I bought was indicted for securities fraud.

Radio Talk Show Host Is Indicted on Stock Fraud

That was my worse year in the stock market. This year one of my accounts is up about 12 percent year to date. One who successfully studies securities analysis does not need sympathy. I was able to buy some long term investment grade corporate bonds when interest rates were higher. That helped too.

 

[NothingIsImpossible]

Well one of them is just a natural disaster that happens that you can't really control per say, though you could move. The other is just a form of gambling. Odds aren't in your favor usually.

But then again when I see people who live in areas like Florida and they have to repair or replace their house every hurricane season I don't fully feel bad for them. You choose to live there. Its like living in Hawaii next to an active volcano then wanting people to feel bad every few months when the lava destroys your home.

 

[Rick Otto]

Someone who has lost their home in a natural disaster, or someone of the same age who has lost just as much in a stock market downturn?

You can't equate the two so easily.
If you still have a home, and compassion is a limited commodity... your stock loss leaves me cold.

 

[OldWiseGuy]

Don't know how much good sympathy would do in either way, unless it came along with some prayers & help. I agree that folks who invest in the stock market ought to know plenty well there's a chance of it being lost. There's a long history of that happening. Even with a good stockbroker and all that, losses can happen. Now with natural disasters like Harvey, that's a different story. Many of the folks who got their houses totally flooded did not have flood insurance on account of them living in areas that had never flooded before, and weren't considered to be at risk for flooding.

So the homeowners deserve the sympathy even though many have flood insurance? (You are using those who didn't as a red herring here.)

 

[OldWiseGuy]

This post's version of you should talk to the version from the "Why Aren't the Poor Getting Ahead?" thread.

Why?

 

[OldWiseGuy]

Um, the person who lost their home. That said, the sympathy is about what was lost and not value.

You lose your home in a natural disaster and you may be homeless and literally have no physical possessions beyond what you are wearing. Whatever was in the house may be destroyed and/or irretrievable. Photos, mementos, items of emotional and monetary value - all or mostly gone.

You lose money on the stock market- well that has always been a riskier investment than an owner occupied home. People feel sympathy, but the loss isn't seen as acute because that person may not have even lost the lion's share of their savings. For most Americans- the bulk of their assets is their home.

I don't consider mementos an asset with monetary value. I don't keep mementos so I have no way to empathize with those who have lost theirs.

I don't own a home but my investments are insured. Anyone living near the sea, especially in areas such as the southern and eastern coasts, should have flood insurance. Those who were told that they were in no danger of flooding could have bought flood insurance very cheaply because of this. Why they didn't is unfathomable to me (no pun intended).

Regarding the stock market. The best advice is to diversify, and to not panic if the market goes down, as it has always come back. Total market index funds are a good way to weather these storms, and in fact are an excellent time to buy.

One of the big problems I see with flood damage to homes is that the owners are in no condition, physically, mentally, or financially, to clean up the damage and restore the structure, so with the help of the media they become objects of pity.

 

[OldWiseGuy]

You can't equate the two so easily.
If you still have a home, and compassion is a limited commodity... your stock loss leaves me cold.

How about working class retirees whose pension funds are wiped out in a stock market crash. No sympathy?

 

[NothingIsImpossible]

As much as people are talking about flood insurance, that doesn't cover everything. Such as lost pictures, art, personal mementos, pets, memories....etc. If you had a electronics there, there is no way to recover what is on them. Just the device itself.

So on that end I guess I could feel bad for those people more, however face still remains they choose to live in such places.

 

[OldWiseGuy]

As much as people are talking about flood insurance, that doesn't cover everything. Such as lost pictures, art, personal mementos, pets, memories....etc. If you had a electronics there, there is no way to recover what is on them. Just the device itself.

So on that end I guess I could feel bad for those people more, however face still remains they choose to live in such places.

Plus the fact that they had weeks in which to move their memorabilia to a safe place.

 

[Rick Otto]

How about working class retirees whose pension funds are wiped out in a stock market crash. No sympathy?

Plenty of sympathy,but no cash. I turned down a ticket to college - a degree in architecture with an open invitation to the do or class (kickbacks) because I instinctual knew the whole system is rigged and corrupt. That's one reason I never made enough money to even invest in the stock market.
What I really pity is people thinking the stock market is a better bet than a good relationship with their creator
Try trusting him alone with your dignity.

 

[OldWiseGuy]

Plenty of sympathy,but no cash. I turned down a ticket to college - a degree in architecture with an open invitation to the do or class (kickbacks) because I instinctual knew the whole system is rigged and corrupt. That's one reason I never made enough money to even invest in the stock market.
What I really pity is people thinking the stock market is a better bet than a good relationship with their creator
Try trusting him alone with your dignity.

I prospered through rental property. The key is to keep rents low, keep the property in tip-top shape, respond to tenant needs, keep bad people out, and retire the mortgage as soon as possible.

Of course this is counter to every business model concerning this enterprise, but I think God would approve.

 

[Rick Otto]

I prospered through rental property. The key is to keep rents low, keep the property in tip-top shape, respond to tenant needs, keep bad people out, and retire the mortgage as soon as possible.

Of course this is counter to every business model concerning this enterprise, but I think God would approve.

Well done, and i agree.
I believe God will take care of you, even if the devil steals your money.

 

[OldWiseGuy]

Well done, and i agree.
I believe God will take care of you, even if the devil steals your money.

True. My fortunes are in God's hands (and in a trust fund for my kids).

 

[Go Braves]

So the homeowners deserve the sympathy even though many have flood insurance? (You are using those who didn't as a red herring here.)

Nope, I'm not.

Far more victims of Hurricane Harvey don't have flood insurance than Katrina victims

The minority of Harvey victims who've got flood insurance do of course still deserve sympathy. Most folks have things in their house that insurance cannot replace, family heirlooms, photos, things of that nature. They also still have to go through the hassle of submitting the claim, waiting for it, all that. My family has been through that several times.

It's not "the" sympathy, as if it's something that only goes to 1 or the other. Feeling more sympathy for some folks doesn't mean lacking any for others.