Sell

User Forum Topic
Submitted by davelj on June 2, 2020 - 5:27pm

In my view...

You should pretty much sell every risk asset that you can - pretty much. This recent rally is a gift from the market gods to de-risk in the face of financial armageddon.

Amazingly, incredibly, beyond all reason... the S&P500 is down just 10% from it's (significantly overvalued) February all-time high. Despite what's likely to be 15%+ peak-to-trough decline in GDP, 15%+ unemployment, profit decimation, overwhelming corporate and personal bankruptcies, myriad bank failures... and no bullets left in the Fed's gun where rates are concerned... stocks levitate. I would argue that this stock market is the most overvalued US market I've ever seen - possibly including 1999/2000.

And it's all a trade - just like all of the classic sucker rallies. Only the big liquid names are moving and driving the indices higher. No one wants to actually "hold" anything. Everyone thinks they'll be the first ones out the door.

The good news is that the banks are *much* better capitalized than they were going into the Financial Crisis. The bad news is that they're going to need every dime of that capital to stave off a crushing wave of bad commercial and CRE loans. Drive down whatever street near you has a lot of strip malls. I live in Mexico now but I drove down Broadway in Chula Vista the other day and just looked on either side of the street - restaurants, nail/hair salons, small hotels, miscellaneous services and retail... at least 1/3 of these businesses will fail by year-end. They simply do not have the wherewithall to survive. And the others will limp along for years afterward. Virtually all restaurants are fvcked. Even if they can seat using social distancing guidelines, only a small percentage can break even. It could be 18 months before there's a "normal" restaurant business. Hospitality (resorts, hotels, vacation rentals)... fvcked. Total wipeout. Airlines and other human transportation... fvcked. Energy... fvcked. I could go on and on and on. And then think about the employees of all of these businesses... there could be 10 million jobs that simply don't return to the US economy for several years - even after there's a vaccine.

Yeah, there will be a bump in economic activity after we hit bottom and then followed by the vaccine (whenever that becomes available). But that bump will ultimately leave the economy (still) in a pretty big hole and, to add insult to injury, there will be a certain, albeit modest, percentage of folks whose behavior is going to semi-permanently change even after things normalize. They're going out less, traveling less, spending less, saving more. When you have a highly-leveraged tanker like the US economy that grows 2-3% in a good year and all of a sudden you have a modest percentage of folks that change behavior like that... you have a long-term disaster on your hands. As the saying goes, "everything important happens at the margin"... and at the margin, things are going to he11 in a handbasket.

Another piece of good news is that the bank regulators are trying to get ahead of things and using forebearance tools - as opposed to capital tools - to try to right the ship. I think that's smart - they should've done more of that during the Financial Crisis (as opposed to cramming capital down everyone's throat) - but... it's still going to get very, very ugly. There are so many permanently damaged businesses out there - eg, think about all of the commercial real estate and how these owners are going to deal with massive waves of bankrupt leasees. Yes, there are regulatory tools that can help but when you see these being pulled out, you'll know the Powers That Be are panicking. This freight train is going to level pretty much everything in its path - I'll be very surprised if it's not worse than the Financial Crisis.

Drive around your town or city. Look around. Think about the businesses that aren't coming back. Think about the folks whose jobs aren't coming back for a long time. Think about how behavior is going to change even after things begin to normalize. Think about the leverage and how the banks are going to cope with all of this. Think about what this means for corporate profitability - short-term and long-term and then what that means for nosebleed-level stock valuations.

Meanwhile, our fair-haired Nero fiddles while Rome burns.

Discretion is the better part of valor. Sell.

I could be wrong. But I doubt it.

Submitted by flyer on September 1, 2021 - 12:25am.

Yes, scaredy, no one can deny the body, as we know it, has a termination date. No amount of money anyone acquires will change that. However, there are many theories, metaphysical, religious, yes, even scientific, etc., wrt the continuation of existence in many forms, beyond this realm, and those are for each of us to embrace as we choose. (or not)

Submitted by scaredyclassic on September 1, 2021 - 8:40am.

flyer wrote:
Yes, scaredy, no one can deny the body, as we know it, has a termination date. No amount of money anyone acquires will change that. However, there are many theories, metaphysical, religious, yes, even scientific, etc., wrt the continuation of existence in many forms, beyond this realm, and those are for each of us to embrace as we choose. (or not)

The Buddhist friends I give money to every month in Escondido explained that there is no Me separate from the entire universe, so my constituent parts will never die, but merely be transformed. Sounds reasonable.

I was walking the other nite with my youngest and said I was ready to die anytime, I had done enough, but that I was not quite prepared to suffer. He said to wait a bit because he still needed me. I didn't get into the issue of whether we actually had independent selfs.

Submitted by flyer on September 2, 2021 - 12:21pm.

There are definitely many different theories concerning the essence of being. It sounds like you've found yours, and I'm glad your son let you know how much he cares about you. A reason well worth living for.

Submitted by scaredyclassic on September 2, 2021 - 1:30pm.

flyer wrote:
There are definitely many different theories concerning the essence of being. It sounds like you've found yours, and I'm glad your son let you know how much he cares about you. A reason well worth living for.

Well, he used the word need, not love
But I'll settle for need

Submitted by Coronita on September 4, 2021 - 9:20am.

Finally got around to doing my august numbers. I'm not doing as well this year versus last. I guess I went too conservative too early. Not the 50-60% the rest of you folks are getting... Oof

Ytd 21.65%, mainly due to lucky bets with Pfizer and Fuji Films and horseshit speculation on Avigan will be useful in Asia the fight against COVID that someone talked about awhile ago among my circle of friends. It's a crapshoot, who knows. same folks speculated on Moderna before it took off, which I missed the boat...(or I should say, I got out of the boat way too early, like always) ...indexes are ok. I'm getting crushed by PG&E... Things have slowed down quite a bit. 3 months prior is 3% . 1 month prior was @ 0.96% I'm at 43% cash/mm right now at the moment. probably also not a good decision.Probably will end up negative in Sept, knowing me

Submitted by sdrealtor on September 4, 2021 - 12:31pm.

FWIW my numbers are net worth all assets including RE. if you add that in yours will be much higher also. On investment accounts we are about the same YTYD

Submitted by plm on September 4, 2021 - 12:33pm.

21.65% YTD is very good until you see that sp500 is doing 22.56% But its all relative, 21.56% is better than what I'm doing so far. At least I'm no longer negative like I was back in March.

I just don't have any control of my account. Being a long term holder I don't want to sell anything and pay the taxes on the gains. So only tiny changes from buying different stocks with the dividend payouts. So I'm a passive investor but not with an index fund.

Submitted by Coronita on September 4, 2021 - 1:09pm.

plm wrote:
21.65% YTD is very good until you see that sp500 is doing 22.56% But its all relative, 21.56% is better than what I'm doing so far. At least I'm no longer negative like I was back in March.

I just don't have any control of my account. Being a long term holder I don't want to sell anything and pay the taxes on the gains. So only tiny changes from buying different stocks with the dividend payouts. So I'm a passive investor but not with an index fund.

I think long term I can't beat the indexes. But even so, I don't think I want to camp out in just one or a few indexes. Indexes are great when the markets are moving up. But I'm trying to move stuff so it's more balanced.. That said, some of my other funds have a large overlap with what's inside the index funds.

Like some of the "income" funds invest mainly in dividend paying stock that also happens to be part of the S&P500 index or others. So my understanding is that one got to be careful that even if your goal was to allocate away from what's contained in index funds, you got to make sure what you pick up doesn't end up picking some of the same stocks.

Fidelity contrafund is similar, and does investments in a lot of high flyers. Contrafund is pretty popular among Fidelity 401k plans, along with the Magellan funds, which I think are now closed.

So in my 401k I have allocations to contrafunds, but since there's so much overlap with some index funds, I'm light on indexes in those 401k accounts...I'm in a unique situation that I negotiated with Charles Schwab, so I can pretty much buy any Vanguard fund inside Charles Schwab and they'll waive all fees they normally charge for funds not theirs....I wasn't able to get them to waive the fees for Fidelity funds. The issue is Schwab doesn't have access to Vanguard voyager class shares. So that's why I still keep around a Vanguard accounts along with Fidelity and Schwab.

I guess things matter less now that everything is trying to move to an ETF. and all three are $0 commission.

Submitted by plm on September 4, 2021 - 1:21pm.

Coronita wrote:
plm wrote:
21.65% YTD is very good until you see that sp500 is doing 22.56% But its all relative, 21.56% is better than what I'm doing so far. At least I'm no longer negative like I was back in March.

I just don't have any control of my account. Being a long term holder I don't want to sell anything and pay the taxes on the gains. So only tiny changes from buying different stocks with the dividend payouts. So I'm a passive investor but not with an index fund.

I think long term I can't beat the indexes. But even so, I don't think I want to camp out in just one or a few indexes. Indexes are great when the markets are moving up. But I'm trying to move stuff so it's more balanced.. That said, some of my other funds have a large overlap with what's inside the index funds.

Like some of the "income" funds invest mainly in dividend paying stock that also happens to be part of the S&P500 index or others. So my understanding is that one got to be careful that even if your goal was to allocate away from what's contained in index funds, you got to make sure what you pick up doesn't end up picking some of the same stocks.

Fidelity contrafund is similar, and does investments in a lot of high flyers. Contrafund is pretty popular among Fidelity 401k plans, along with the Magellan funds, which I think are now closed.

So in my 401k I have allocations to contrafunds, but since there's so much overlap with some index funds, I'm light on indexes in those 401k accounts...I'm in a unique situation that I negotiated with Charles Schwab, so I can pretty much buy any Vanguard fund inside Charles Schwab and they'll waive all fees they normally charge for funds not theirs....I wasn't able to get them to waive the fees for Fidelity funds. The issue is Schwab doesn't have access to Vanguard voyager class shares. So that's why I still keep around a Vanguard accounts along with Fidelity and Schwab.

I guess things matter less now that everything is trying to move to an ETF. and all three are $0 commission.

Just going to stick with SP500 index fund for my 401k. I don't know enough to choose different funds, I figure the top 500 US companies would be better than most funds. As for my brokerage account, not trying to diversify, just buy stocks that go up the most. Doesn't matter much if you don't sell. It's more praying that the stocks you own do well.

Submitted by Escoguy on September 4, 2021 - 7:12pm.

sdrealtor wrote:
Coronita wrote:
Yeah, well I was one of the people that actually took some money off to the side to be a little more cautious. But you know when I did that, it wasn't significant enough to save my accounts when the markets declined...since when the markets declined the rest of my portfolio took a hit...at the same time, when the markets climbed fast, my portfolio didn't climb as fast...Slow going up fastcoming down still...Story of my life....I should have just left things alone...

50-60% is impressive. I think my 1 year underperformed @ 27%

50-60% would have been nice. no early retirement for me...

Im sure you did great. Part of that roughly 60% was leveraged real estate though it wasn't highly leveraged. Someone highly leveraged on real estate would've done amazing also. I'm sure we know at least one or two of those also

As an accountant by profession, I almost have this instinct to track net worth/values/change in net worth, but for my personal funds/assets, I take a slightly different approach.

I do mark securities/stocks to market and combine that with liquid funds/change in debt to get a monthly/year to date net change.

For property, I track two values, a core equity value which is probably 30% below current market but more of a "if the world goes to hell value".

I have a side calculation which I call "unbooked equity" or unrealized gains which is closer to the current market. I do slowly bring up the "go to hell value" over time to book a portion of the market gain. This practice is inspired by the accounting for German insurance companies which for many years held real estate at the acquisition cost which created "hidden reserves". Of course, Warren Buffet would figure this out long ago. Still it does make me think of that summer back in Munich as an auditor after the wall came down.

If I go off the mark to market value, the 14 month gain since June 2020 is a solid 33% but overall lagging the market as I've kept about 10%-30% in cash to buy more property (10% current).

If I factor the "unbooked equity", things look much better, and I come in at 53%.

I need to keep some perspective here, the amount is over $2M in gains in 14 months which is probably more than I will spend on discretionary items for a few decades. It certainly begs the question if going to work still makes sense.

My normal target return going forward is only about 4% which may well be too conservative. Eventually all the stimulus measures will peter out and the economy and real estate will converge at some natural growth rate which I estimate at about 1.5%. I'm not saying sell or even change the allocation, but I think the past 14-18 months have had greater returns than the next 5-6 years combined. Hope I'm wrong but am making long term consumption and spending plans based on what I think is a sustainable rate.

Submitted by Coronita on September 4, 2021 - 11:23pm.

This is a really interesting discussion on how to properly determine net worth and evaluate performance, particularly on things that have not been realized.

I'm not an accountant so for the most part I don't understand this, lol.

Perhaps, I'm way oversimplifying my goals, but I'm not as concerned about total net worth or appreciation of my net worth also long as I can achieve a steady stream of income from sources other than a job based on what I have, and maintain those stream(s) of income for decades to come.

Ideally, I'd like to have a steam $150k-$200k/year income stream assuming all my major expenses have been paid off (housing, kids education). Some of this comes from rental, but ideally also from other income bearing investments.

If I have a crapload of money, I wouldn't care how low this return was (up to the point that it would be ideal to at least be above the rate of inflation). And would rather pick the lowest and safest returns that meets that steady income stream and beats inflation slightly in exchange for some more predictability of being able to be consistent 20-30-40+years from now. How I go about doing this, I'm trying to figure this out. I think $90-100k comes from rental income, that I understand could vary and go up and down to, but to some extent is more constant than other things. What I'm trying to get a handle on is, how get the remaining $50-100k/year from other sources.

These unusual 22%+ S&P500 gains are nice, but I wouldn't count on this being typical for the long term.So I'd like to take some of these usual larger gains these past few years and put them into something more predictable and "stable"... Real estate aside, I think I need about 4-5% consistent return on everything else, with an asterisk. 4-5% on "everything else" would allow me to meet my objectives IF those returns could be used right now..The problem is part of that "everything else" is retirement accounts that cant be touched for another 12 years minimum. So gains in those accounts aren't going to be very useful in the case of an early retirement. Between retirement and non-retirement, it's a 50/50% split.

So not sure how to convert some of these short term wins into long term consistency, albeit at a lower return rate. I already tried to do this by reducing my exposure to the domestic stock market, but I don't think what I'm doing really helps. Because while on UP days, my accounts aren't rising as fast as someone else fully vested, on down days, my accounts aren't necessarily going down less than others that are fully vested....they also still take some sizable hits....

I'm trying a little experiment with my kid's 529 account. I recently exchanged 80% of my kid's 529 account from traditional indexes into a time based fund-of-fund with a target date. 80% of the 529 went to this Vanguard Target Enrollment 2024/2025 Portfolio, which does a portfolio allocation based on a need to use the funds in 2024/2025.

The returns so far are a lot lower than what was in index funds, but I'm hoping that lower return buys a lot more stability for the next 3 years. I'm not as concerned about chasing the highest returning funds. The funds thus far has grown to $300k since making regular monthly contributions starting in 2006, and if more is needed, I could dip into other sources. Just want more predictability now that we are getting closer to needing to use it.

Same idea could be said about my holdings if my goals are early retirement.

Submitted by gzz on September 5, 2021 - 1:06pm.

“ It certainly begs the question if going to work still makes sense.”

Pedantic alert: It raises the question!

I am in the same happy boat, I saw my net worth passively grow more than past 1.5 year than all my labor income my first 12 years in the workforce, age 16-28, and all my savings from 16 to 34.

I enjoy my work and have long term commitments to clients and staff. My earning ability and skill level is at its peak and early retirement seems wasteful. There’s also a feeling of keeping up with my peers from school, though I realize that’s foolish. It isn’t so much want to be on top, but I still want to at least keep up with the average, which I have done so far but wouldn’t if I retired.

A factor that is no longer present is that 5-10 years ago I wanted to help family members who were economically struggling. The booming economy lifted all their boats and now I am happy to see them pay off their mortgages and buy new cars.

Finally, working is more enjoyable when you don’t have to anymore.

Submitted by scaredyclassic on September 5, 2021 - 3:04pm.

I find myself in a position today where I could never work again and enjoy the same lifestyle even accounting for high medical insurance with no worries, even for scaredycat.

The problem for me is I could not afford large future expenses I might want to make. I couldn't afford to pay cash for a kids medical school. I couldn't give large cash down payments for houses. I couldn't help out with free cars and stuff. I also need to send money to the Escondido Buddhists...

I'd like to be able to do all those things. If I kept working, I could, and not feel impact about future anxiety. Also, I sometimes like work and don't want to be a useless old man who no one listens to. Worse, I could turn into an old guy who talks about prior work days. Ugh. I hate old guys like that

Therefore although I do not feel like working on Tuesday, or this weekend, I'll be heading in later today.

Even if I were to die tomorrow, I would feel about this life direction it is correct

Submitted by svelte on September 6, 2021 - 8:28am.

scaredyclassic wrote:
I find myself in a position today where I could never work again and enjoy the same lifestyle even accounting for high medical insurance with no worries, even for scaredycat.

The problem for me is I could not afford large future expenses I might want to make. I couldn't afford to pay cash for a kids medical school. I couldn't give large cash down payments for houses. I couldn't help out with free cars and stuff. I also need to send money to the Escondido Buddhists...

I'd like to be able to do all those things. If I kept working, I could, and not feel impact about future anxiety. Also, I sometimes like work and don't want to be a useless old man who no one listens to. Worse, I could turn into an old guy who talks about prior work days. Ugh. I hate old guys like that

Therefore although I do not feel like working on Tuesday, or this weekend, I'll be heading in later today.

Even if I were to die tomorrow, I would feel about this life direction it is correct

Sounds like you are in a similar boat as I am, scaredy. Have hit my goals early but not sure I am ready to retire.

My original goal was to retire at 65, but I'm beginning to question whether I want to stay in that long. My wife and I have been talking about that.

The house is close to being paid off. We could live better than anyone in either of our families - ever! - even if I retired now.

The problem is - once I exit the workplace, if I decide a year or two down the road I shouldn't have it would probably be hard to reenter. It is probably a one-way door.

So for now, I decided to stay. It will afford us more $$ to do with what we want in retirement - in reality it will be more money to pass on to our kids. My wife's still working anyway, so even if I retired it would not mean more travel right now. Inflation has kicked up and if that continues, it could be that we'll need that extra few years on income to keep pace with inflation. I'll probably be re-evaulating every six months or so.

I've also been returning to genealogy and recently updated the family tree with the ages they all died. It's all over the board as one might expect, but out of the 28 ancestors nearest us in the family tree (through great-grandparents):

- 4 passed in their 90s (93, 93, 90, 90)
- 5 passed in their 80s (89, 83, 82, 82, 81)
- 12 passed in their 70s
- 2 passed in their 60s
The other 5 passed before that.

How much time do we have left? How much of it do we want to spend in retirement? The answers are unclear at this point.

Submitted by scaredyclassic on September 6, 2021 - 9:01am.

I think the answer for me will be to keep working as long as I'm making decent money, am not too age impaired, and I can drag my ass around without too much difficulty. Kind of like the pre retirement era. Work, then die.

I didn't believe it when I was younger, but serving others may be the purpose of living. I'd rather theoretically help pay for day care for grandchildren than be day care for them.

I'd rather give than take,not because I'm a morally superior person, but because it's more pleasurable. Maybe it's actually less moral, for this motive.

Submitted by flyer on September 6, 2021 - 9:38am.

I think staying actively engaged in whatever is meaningful to you for the duration of life is very healthy both mentally and physically.

Haven't "had" to work for years, but we're busier than ever with extremely interesting projects/activities that benefit us as well as others, and hope they continue as long as we live. Still have time for "retirement" activities as desired, but no need to "retire" in order to enjoy those things.

Submitted by scaredyclassic on September 6, 2021 - 3:18pm.

If it was more lucrative, I might be interested in shepherding as an old man. I talked to a shepherd in a local preserve who was watching 100 plus grazing sheep for weed control. He seemed to be having a good day. Obviously, need good sun coverage.

Nice how no humans were involved.

I think I prefer goats tho.

Submitted by Coronita on September 6, 2021 - 3:48pm.

scaredyclassic wrote:
If it was more lucrative, I might be interested in shepherding as an old man. I talked to a shepherd in a local preserve who was watching 100 plus grazing sheep for weed control. He seemed to be having a good day. Obviously, need good sun coverage.

Nice how no humans were involved.

I think I prefer goats tho.

I sort of want to open my own shop for fun. But I quickly realized working on my car are fun, working on someone else's car, especially if they are going to be a pain in the azz would not be.

I guess more realistic is when my kid goes off to college in 3 years, I want to be able to hit every track Speed Ventures or SCCA allows me to go. Put a car on a trailer for the weekend and trying to come back in time for school and work isn't practical for most events.
Other than that, have everything else I need already. ok maybe I need a hydraulic lift at home.

Submitted by The-Shoveler on September 7, 2021 - 11:52am.

"hydraulic lift at home"

Yep top of my wish list too.

To be honest retirement scares the crap out of me.

Submitted by Coronita on September 7, 2021 - 12:04pm.

The-Shoveler wrote:
"hydraulic lift at home"

Yep top of my wish list too.

To be honest retirement scares the crap out of me.

Me want.
https://www.bestbuyautoequipment.com/car...

But these actually are decent...

https://www.costco.com/quickjack-5%2C000...

Submitted by The-Shoveler on September 8, 2021 - 6:20am.

Need something like this and a two story garage to put it in.

https://www.ebay.com/itm/203121988280?ch...

Now just need to convince the wife we need it.

Submitted by davelj on October 15, 2021 - 11:45am.

[Sorry, just getting back to this thread...]

I have one word for investors: BUYYYYYYYYYYYYYYYYY!!!

Kidding, of course. I think. Actually, I'm not sure, maybe folks should be buying. I have no idea.

I've been totally wrong about this incredible, amazing rally so really no one should listen to me. After almost 25 years of having a pretty good understanding of how financial markets work, I have come to the conclusion that my views are no longer relevant and possibly counterproductive... I simply don't understand how markets work; today's prices tell me so. Ha!

Cryptos (including "joke" currencies with multi-billion dollar valuations), NFTs, $30 trillion in "free" money via the Global Powers That Be, 6% (alleged) inflation vs 3% 30-year treasury rates (might be the weirdest of them all), Price/Whatever ratios (further and further) in the stratosphere... none of it makes any sense to me. But it appears to be the new reality. No amount of negative news about anything appears to crack these markets - in fact, the opposite. So, there you have it.

I wish everyone the best of luck in these strange - sorry, new normal - times.

Submitted by scaredyclassic on October 15, 2021 - 12:16pm.

"the market can remain irrational longer than you can remain solvent" used to be good advice, but I think I'd limit it nowadays to "the market can remain irrational" and edit the remainder.

Or perhaps...

"It is very risky to be prudent."

Further proof we are living in a video simulation.

Submitted by Coronita on October 15, 2021 - 2:57pm.

I am convinced it's not one particular person that is wrong about the market. It's whoever posts next about any sort of direction in the market, the markets are bound to go the opposite way the next week! So never say what you think/want to happen.

With that.

The markets are going to fall bigtime next well. Sell. Dump immediately. It's going to crash big time. You are all idiots for staying in this market. Get out while you can...Trust me, you're wrong. You are a fool to stay in this market next week. I sold something this week because I know next week it the markets will be down.

There...

You are welcome!

Submitted by The-Shoveler on October 15, 2021 - 3:29pm.

If we can prove we are a simulation, I would feel better about it.

IMO after 2008/9 the TPTB got together and decided nothing can ever be allowed to crash for any length of time ever again.

Now that that's said I expect a big crash to start next week.

Submitted by scaredyclassic on October 17, 2021 - 8:18am.

The-Shoveler wrote:
If we can prove we are a simulation, I would feel better about it.

IMO after 2008/9 the TPTB got together and decided nothing can ever be allowed to crash for any length of time ever again.

Now that that's said I expect a big crash to start next week.

You don't need proof. Just accept this is a simulation, and feel better.

Submitted by sdrealtor on October 17, 2021 - 11:29am.

davelj wrote:
[Sorry, just getting back to this thread...]

I have one word for investors: BUYYYYYYYYYYYYYYYYY!!!

Kidding, of course. I think. Actually, I'm not sure, maybe folks should be buying. I have no idea.

I've been totally wrong about this incredible, amazing rally so really no one should listen to me. After almost 25 years of having a pretty good understanding of how financial markets work, I have come to the conclusion that my views are no longer relevant and possibly counterproductive... I simply don't understand how markets work; today's prices tell me so. Ha!

Cryptos (including "joke" currencies with multi-billion dollar valuations), NFTs, $30 trillion in "free" money via the Global Powers That Be, 6% (alleged) inflation vs 3% 30-year treasury rates (might be the weirdest of them all), Price/Whatever ratios (further and further) in the stratosphere... none of it makes any sense to me. But it appears to be the new reality. No amount of negative news about anything appears to crack these markets - in fact, the opposite. So, there you have it.

I wish everyone the best of luck in these strange - sorry, new normal - times.

Never underestimate the power of the passage of time.

Maybe it's time to consider marriage as well

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