diff --git "a/reddit_finance_43_250k_38.txt" "b/reddit_finance_43_250k_38.txt" new file mode 100644--- /dev/null +++ "b/reddit_finance_43_250k_38.txt" @@ -0,0 +1,10000 @@ + +[https://themarketherald.com.au/selfwealth-asxswf-finishes-december-quarter-with-yoy-revenue-growth-2021-01-12/](https://themarketherald.com.au/selfwealth-asxswf-finishes-december-quarter-with-yoy-revenue-growth-2021-01-12/) + +&#x200B; +I understand it's "just Zillow", but I do want to explore this hypothetical a bit. + +Home prices are becoming wildly insane in almost every market. + +What happens when the average earning American AND now the above average earning Americans are increasingly priced out of home buying? How does this actually go if we go down this path? + +Homes that were $250k 2 years ago are flying off the shelves at $400k+. Considering an additional ~15-20+% increase, how would this actually play out long term? Because the prices are not going to just all of a sudden go back to Pre-COVID pricing. + +So, Would we just hope and pray that at some point wages would catch back up? or hope that a crash happens? I want someone more knowledgeable than me to help me understand where this goes because I don't see it ending in anything less than madness lol. Wages are not rising fast enough for basic life stuff and rent let along home buying...and if the result isincome requirement to comfortably afford the average home is in the low to mid 6 figure range, what happens? +Hi guys, I own already some crypto (I don't want shill nothing) and I would like to invest for LONG TERMS, on others solid project. + +Would like to discover every good project YOU THINK will be very good in the future/next year. + +Don't tell me about shitcoins thanks! + +\-------------------------------------------------------------------- + +EDIT : Thanks to everyone! 500 Comments + +\-------------------------------------------------------------------- + +EDIT2 : **I think many people as me would like to discover good and new project to invest, I make here a recap.** + +(I own **only** 1 coins, I'm not shilling anything and it's not financial advice, just a recap for the most wrote crypto project in the comments and from what I understand.. and DYOR ALWAYS) (I'm gonna copypaste, thanks community!) + +**This is the list with more upvotes made by all of you!** + +[NOIA](https://coinmarketcap.com/it/currencies/syntropy/) (Syntropy) - bringing speed and security to every internet-connected device using their new routing protocol. Independent so anyone can use it. + +[IMX](https://coinmarketcap.com/it/currencies/immutable-x/) : Immutable X is the first layer-2 scaling solution for NFTs on Ethereum, with instant trade confirmation, massive scalability (up to 9,000+ trades per second), zero gas fees — without compromising user custody. The protocol is built on top of StarkWare’s proving technology, which allows users to retain access to Ethereum’s ecosystem and network effects. + +[TRAC](https://coinmarketcap.com/it/currencies/origintrail/) : (OriginTrail) - secure data interoperability and exchange as used in supply chain, personal, pharmaceutical, railway and other industries. Great adoption already occurring. + +[ROSE](https://coinmarketcap.com/it/currencies/oasis-network/) : Privacy-enabled smart contract Blockchain focussing on enterprise adoption, partnerships with Meta (Facebook), BMW and more, backed by big players in the crypto industry. + +[LRC](https://coinmarketcap.com/it/currencies/loopring/) : Solves most of the ETH gas issues. Has a new GME partnership for a NFT marketplace that has been all but announced. + +[RADIX](https://coinmarketcap.com/it/currencies/radix-protocol/) : What is Radix? (XRD) Radix ([www.radixdlt.com](http://www.radixdlt.com)) is the first layer-one protocol specifically built to serve DeFi. Radix is “layer 1 DeFi done right” because it is the only decentralized network where developers will be able to build quickly without the constant threat of exploits and hacks, where every improvement will get rewarded, and where scale will never be a bottleneck. + +[FLUX](https://coinmarketcap.com/it/currencies/zel/) : Flux is the new generation of scalable decentralized cloud infrastructure. Simply develop, manage, and spawn your applications on multiple servers at once. Ready for Web 3.0, Dapps, and more. + +[DCIP](https://coinmarketcap.com/it/currencies/decentralized-community-investment-protocol/) : Decentralized Community Investment Protocol (DCIP) is the first investment as a service (IaaS) and fully decentralized investment fund token on the BEP20 Binance Smart Chain network, which unlike the competitor tokens on the same network, DCIP holds real-world use cases making it unique – and these real use cases are not limited to the BEP20 network either, which benefit from the expanding Blockchain opportunities. + +[CRO](https://coinmarketcap.com/it/currencies/crypto-com-coin/) : Native token of Crypto.com + +[ELROND](https://coinmarketcap.com/it/currencies/elrond-egld/) : Elrond is a [blockchain](https://coinmarketcap.com/alexandria/glossary/blockchain) protocol that seeks to offer extremely fast transaction speeds by using sharding. The project describes itself as a technology ecosystem for the new internet, which includes fintech, [decentralized finance](https://coinmarketcap.com/alexandria/article/what-is-decentralized-finance) and the Internet of Things. Its [smart contracts](https://coinmarketcap.com/alexandria/glossary/smart-contract) execution platform is reportedly capable of 15,000 transactions per second, six-second latency and a $0.001 transaction cost. + +[ONE](https://coinmarketcap.com/it/currencies/harmony/) : Harmony is a [blockchain](https://coinmarketcap.com/alexandria/glossary/blockchain) platform designed to facilitate the creation and use of decentralized applications (DApps). The network aims to innovate the way decentralized applications work by focusing on random state sharding, which allows creating blocks in seconds. + +[DOT](https://coinmarketcap.com/it/currencies/polkadot-new/) : Polkadot is an [open-source sharding multichain protocol](https://coinmarketcap.com/alexandria/article/a-deep-dive-into-polkadot) that facilitates the cross-chain transfer of any data or asset types, not just tokens, thereby making a wide range of blockchains interoperable with each other. + +[LUNA](https://coinmarketcap.com/it/currencies/terra-luna/) : Terra is a [blockchain](https://coinmarketcap.com/alexandria/glossary/blockchain) protocol that uses fiat-pegged [stablecoins](https://coinmarketcap.com/alexandria/article/what-is-a-stablecoin) to power price-stable global payments systems. According to its white paper, Terra [combines](https://terra.money/Terra_White_paper.pdf) the price stability and wide adoption of fiat currencies with the censorship-resistance of [Bitcoin](https://coinmarketcap.com/currencies/bitcoin) (BTC) and offers fast and affordable settlements. + +[ALGO](https://coinmarketcap.com/it/currencies/algorand/) : Algorand is a self-sustaining, decentralized, blockchain-based network that supports a wide range of applications. These systems are secure, scalable and efficient, all critical properties for effective applications in the real world. Algorand will support computations that require reliable performance guarantees to create new forms of trust. + +[IOTA](https://coinmarketcap.com/it/currencies/iota/) : IOTA has fundamentally reengineered distributed ledger technology, enabling secure exchange of both value *and* data, without any fees. + +[HBAR](https://coinmarketcap.com/it/currencies/hedera/) : Hedera is the most used, sustainable, enterprise-grade public network for the decentralized economy that allows individuals and businesses to create powerful decentralized applications ([DApps](https://coinmarketcap.com/alexandria/glossary/decentralized-applications-dapps)). + +[OIN](https://coinmarketcap.com/it/currencies/oin-finance/) : OIN is described to be the first DeFi platform to provide liquidity mining and loans on Ontology, and ultimately on other top platforms through cross-chain functionality. The platform will build the bridge technology to seamlessly integrate Ethereum into its ecosystem, opening up to all of the current DeFi space. Cross-chain technology is crucial in DeFi and its growth as a legitimate financial infrastructure, after all, traditional finance also integrates the whole world, its currencies, and its different financial systems. + +[DIA](https://coinmarketcap.com/it/currencies/dia/) : DIA (Decentralised Information Asset) is an open-source oracle platform that enables market actors to source, supply and share trustable data. DIA aims to be an ecosystem for open financial data in a financial smart contract ecosystem, to bring together data analysts, data providers and data users. In general, DIA provides a reliable and verifiable bridge between off-chain data from various sources and on-chain smart contracts that can be used to build a variety of financial [DApps](https://coinmarketcap.com/alexandria/glossary/decentralized-applications-dapps). +Welcome to the Daily General Discussion thread of /r/EthTrader. + +*** + +Thread guidelines: + +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All [sub rules](https://www.reddit.com/r/ethtrader/about/rules/) apply here so please be familiar with them. + +*** + + Resources and other information: + +* Find the latest Altcoin Discussion thread in [this search listing](https://www.reddit.com/r/ethtrader/search?q=author%3Aautomoderator+title%3Aaltcoin&include_over_18=on&sort=new&t=all). + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! +https://www.afr.com/policy/economy/millennials-aren-t-socialists-they-re-just-poorer-than-their-parents-20201215-p56nil + +Anyone who is genuinely interested in why young people are moving to the left should look at the pyramid of credit that underpins the Australian economy. + +To read the Centre for Independent Studies' report on the Millennial embrace of socialism in the dying days of 2020 is to experience something of a time warp. Published about the time Alexandria Ocasio-Cortez was beginning her run for office in 2018, the document opens with the fall of the Berlin Wall on November 9, 1989, and was clearly intended to shock. +Chock full of esoteric graphs and sweeping platitudes, the libertarian think tank attempts to boil down what 1003 people born between 1980 and 1995 told their interviewers while answering a handful of leading questions. + +Participants were asked things such as, “Do you think capitalism has failed?” or “Are ordinary workers worse off today than they were 40 years ago?”; eventually the gotcha component consisted of a snap history quiz. In an effort to measure the participants' familiarity with “socialism” – a term never clearly defined – subjects were asked what they knew about figures like Mao Zedong and Vladimir Lenin but curiously not whether they had heard of Union Carbide or Bhopal. When the results inevitably came back showing a lack of familiarity, the authors wrote off the “youth” flirtation with socialism as little more than ignorance. + +“For a variety of reasons, youth are far less aware of socialism’s role in some of the greatest catastrophes in human history and have begun to view it benignly,” the report said. +With this, the authors perhaps revealed more about themselves than they intended. Even in victory, roughly three decades after the fall of the Soviet Union, they were still penning reports about their long-vanquished foe as if they were still mourning the loss of a sparring partner. It was as if hand-wringing about “cancel culture” was not as satisfying. +Anyone who is genuinely interested in why young people are moving to the left needs to look elsewhere – and a good place to start is the pyramid of credit that underpins the Australian economy. + +Australians, it may surprise many, are some of the most indebted people in the world – though the exact ranking depends on which measure is used and how the numbers are cut. The most recent OECD figures show the ratio of Australian household debt to net disposable income stands at 217 per cent – meaning the average household owes twice what it makes in the year. Measured relative to gross domestic product, the Bank of International Settlements puts Australian household at 119 per cent – second only to the Swiss. + +All that debt is beginning to weigh on the intergenerational transfer of wealth. If the social compact has been underpinned by the promise that each generation will do better than the last, a Grattan Institute report from 2019 shows that may no longer be the case. + +Guaranteed wage rises meant inflation would gradually eat a person’s debt over time, today flat wages mean debts grow. + +What they found is that the future young people face is bleak. On balance they are working more insecure jobs for longer, earning less at the same age than their parents were, spending most of their money just trying to survive and are more likely to hold debts than assets. +When it comes to housing, those aged 35 to 64 in 2016 took on twice as much debt as those of a similar age were doing in 2004. Meanwhile, home-ownership rates among young people aged 25 to 34 have fallen to 20 per cent, down from 60 per cent in 1981. + +Things are even more bleak when read alongside two other Productivity Commission reports released in mid-2020. Together they show how those who have come of age since the 2008 global financial crisis – triggered by massive fraud in the mortgage-backed securities trade – have watched their incomes decline by 2 per cent while they are locked into more unstable, more insecure jobs over their lifetime. + +When people feel as if the social compact has been run through a shredder, they start looking for alternative ideas about how to run things. + +How well a person fares in this world depends largely on class. Those whose parents own their home outright can always rely on the bank of mum and dad if they run into trouble or need help buying a house. Those left to rely on a wage have a much harder time as they work harder for longer, are paid less over time and are more likely to inherit their parents’ mortgage than the family home. + +Should they run into trouble, they are forced to go into debt or rely on a social security system paid at a level below the poverty line – or both, if the Australian government’s illegal robodebt scheme is any guide. If guaranteed wage rises once meant inflation would gradually eat a person’s debt over time, today flat wages mean debts grow and there are fewer ways to escape them. + +The issue with this is not about morality, but the inherent fragility that is being built into the economy. As a growing array of debts drive more people into precarity, it becomes more likely that when push comes to shove – such as a global pandemic or correction in the housing market – that everyone suffers. If history is any guide, what happens next is best summed up with a joke told by Brown University Professor Mark Blyth while explaining the Brexit vote and the advent of Trump. +“It’s a no-win scenario until elites figure out that at the end of the day, as I like to tell my American hedge fund friends, the Hamptons is not a defensible position,” Blyth said. +  +“The Hamptons are a very rich area on Long Island that lies along low-lying beaches. Very hard to defend a low-lying beach. Eventually people will come for you.” The same might be said of Point Piper, the pricey harbourside Sydney suburb – home to former prime minister Malcolm Turnbull – that sits on a peninsula surrounded by water in the 16th-most overvalued city in the world. + +The important point, however, is that when people feel as if the social compact has been run through a shredder, they tend to start looking for alternative ideas about how to run things. +Given the deal they are currently being offered, if young people really are embracing “socialism” – however the term is used and abused – it should come as a shock to no one. + +What exactly do they have to lose? +https://www.businessinsider.com.au/why-chinese-stocks-have-crashed-in-2018-2018-10 + +* Chinese stocks have lost more than 30% of their value since the start of 2018. + +* Fears of a slowing economy, rising debts and the impact of US President Donald Trump’s trade war have all played a role in pushing the Chinese market lower. + +* However, a wave of forced selling of company shares could see the market drop even more. + +* Hundreds of Chinese companies use their shares as collateral for loans, and are forced to sell when their share price drops below certain levels. + +* Analysts believe this trend is likely to exacerbate the major declines already seen in Chinese markets this year. +First step towards wealth creation is to stop buying things you don't need just because you want to show it off to your friends and family. Don't buy anything until you need it or you have solid reason for buying it. + +FOMO spending is one of the biggest wealth destroyer for everyone today in the era of Social Media. This FOMO buying is also very common these days in stock markets among retail investors. They are jumping in and buying stocks just because someone in their close friends/family has made money by investing in that stock. + +Don't gamble your hard earned money in the markets, there has to be a sound logic behind every stock purchase that you make. Most importantly that logic should be based on facts and not on emotions. + +As the great Warren Buffett says:- 'Investing is simple but its not easy.' +So a lot of these tech stocks that have fallen 50% were kinda justified in my opinion. Like Peloton even after the fall is still a 12B dollar company. Are there any tech stocks that fell that may actually be good from a value investment perspective. I would love to take advantage of people become fearful of tech if possible, but I don’t want to pay for a company that is not going to be profitable. The one I have found is alibaba, but I think a lot of that fall was more China-related than tech related + +Edit: I didn’t mean to put stock analysis and can’t fix it 😂 +**Disclaimers:** + +1. You do not have a permission to share this post outside of Reddit or otherwise use it for self-promotion, your YouTube channel, blog, etc. Some members asked for this but hope everyone recognizes that once it’s on the Internet obviously there’s little we can do to ensure the data is not being misused. As such, I will only be sharing the aggregated results and will delete the detailed data after posting this. +2. We’ve received hundreds of responses in a few short hours before mods removed the link (unfortunately the strict ‘no solicitation’ rule bans all external links. I disagree in this case, but it’s not my call). But, we’re a sub of close to 250k. As is the case with any survey, the results may be skewed due to the size of the sample. Please take the below with a grain of salt. +3. I apologize for having to post all charts as links. r/fatfire does not allow images in posts, so there was little flexibility. + +**Who is a typical** r/fatFire **user you may be chatting with?** + +He’s a guy, so let’s call him Dan. + +Dan lives in a high cost city in North America. He’s on his way to fatFire, although he’s still pretty early in his journey and has less than 500k to his name at the moment (but don’t hold that against him, he’s only in his late 20s-early 30s, after all). + +Dan currently works a white-collar job which helped generate most of his net worth to date. He’s married and has kids. Dan’s partner has definitely helped him accelerate his fatFire journey, but you should know that Dan is a successful man and would have made it on his own. Dan believes he will be able to call himself ‘fatFired’ when he finally reaches a net worth of $5 million. + +Now, let’s dive into what makes Dan different from Olivia, Ali and everyone else who frequents this forum and graciously agreed to take the survey. + +**Age** + +78% of users are between ages 26 and 50. 42% are between ages 26 and 35. + +[https://imgur.com/zxyxF5r](https://imgur.com/zxyxF5r) + +**Gender** + +The sub is overwhelmingly male (circa 85%). + +[https://imgur.com/DYPndaS](https://imgur.com/DYPndaS) + +**Where they are in their fatFire journey** + +This and the next question are perhaps some of the more surprising and controversial. The overwhelming majority of users (58%) indicated they are ‘on their way to fatFire’, and the number of individuals already ‘there’ (either fatFI and still working or completely fatFired) is relatively low (19%). + +[https://imgur.com/alprv1B](https://imgur.com/alprv1B) + +This shouldn’t shock the skeptics who have voiced their concerns about the sub experiencing an influx of folks who are still early in their fatFire journey. To an extent it also validates some of the more recent rule changes such as Mentor Monday posts which help isolate and re-direct some of the discussions. + +**Current net worth (excluding primary residence)** + +I was pleasantly surprised that almost every participant was willing to answer this understandably sensitive question. + +What may also surprise some is that 70% of responders have indicated that they themselves have a NW below what they would consider a minimal ‘fatFire’ level (more on that below – see the last ‘bonus’ question). + +More so, ***a quarter of responders indicate a NW below $500k***. Who are those people and what attracted them to r/fatFire? They may be lawyers or physicians just starting to emerge from their substantial student loan debt, or perhaps they are hopeful investors or ambitious business owners certain they will make it big. Time will tell. + +Equally important, are the truly fatFired members few and far between, or are they simply shy to partake in the survey? Unfortunately, that's not something we can answer based on the survey but we can certainly speculate about it further in the comments. + +[https://imgur.com/pRuQRsA](https://imgur.com/pRuQRsA) + +**Primary source of net worth and occupation** + +The next 2 questions go hand-in-hand. Unsurprisingly, most folks made most of their money through salaries/wages (76%) and investing in traditional vehicles such as stock market and real estate (48%). (Multiple answers to this question were permitted). However, fatFire members are oftentimes entrepreneurs (see the next question) and also don’t shy away from crypto and other riskier investments (14%). + +[https://imgur.com/s5WuNhH](https://imgur.com/s5WuNhH) + +Unsurprisingly, many redditors reported being a white collar professional (30%) or a business owner (24%). See the full list of professions included below. + +'Other' responses included arts & entertainment (Anna Kendrick, I know it was you. Please DM me), a student and an eBay seller. + +[https://imgur.com/igNNAxC](https://imgur.com/igNNAxC) + +**Where do you have the best chance to fatFire? And do you need to live in the Bay Area to 'make it'?** + +This next question was somewhat tricky. FatFire folks are oftentimes no strangers to travel and relocations. So, instead of asking participants where they live right now or where they are from (although I’m realizing it may be a good question for a future fatFire survey) I’ve asked where they’ve earned/accumulated the majority of their NW. + +Unsurprisingly, since the Asia-Pacific crew was fast asleep when the survey was live the overwhelming majority of folks (90%) reported North America as the place where they've generated their NW. + +[https://imgur.com/9Siy54U](https://imgur.com/9Siy54U) + +There’s a good spread of answers to the cost of living question. This one is perhaps the most subjective one and hard to measure. + +[https://imgur.com/ghXgbyn](https://imgur.com/ghXgbyn) + +**Marriage and kids** + +Most folks reported being married or in a committed relationship (67%), and believe getting married either unlocked their path to fatFire (22%) or at the very least accelerated it (40%). + +[https://imgur.com/RGiCIec](https://imgur.com/RGiCIec) + +[https://imgur.com/ho5wfMk](https://imgur.com/ho5wfMk) + +Most people either have kids or would consider having them in the future (just my guess, but being able to afford a good support network and some time off may be part of the reason why). + +[https://imgur.com/ho5wfMk](https://imgur.com/ho5wfMk) + +**What does it take to fatFire? The bonus question you’ve all been waiting for.** + +As the answers show and as has been indicated by the mods / members for some time now, there’s no clear consensus (well, it’s fair to say that most agree that anything less than $5 mil won’t cut it). + +However, a good chunk of people won’t be satisfied with anything less than $10 mil before they are willing to call themselves ‘fat’ (31%). The slight irony that's probably not lost on those who were patient enough to read through the whole post is that most of the responders are at least $9.5M away from reaching this mark at the moment. + +[https://imgur.com/BHnPhBd](https://imgur.com/BHnPhBd) + +&#x200B; + +**Thank you for sticking with me through this lengthy post. Would be glad to hear your thoughts on the results in the comments.** + +Edit2: After seeing a lot of “the DD is already done” and “I agree, been zen for awhile” comments, it helped me understand my real inclination for the post: Subreddit (Movement) integrity and public perception. As much as we dodge “we” etc., this is the closest thing to OWS 2.0. And it’s *actually occupying*... right where it matters: *in* the market. We have no leaders or clear credo. But we have cohesion with liking the stock and exposing how the criminals on Wall St. steal your savings, pensions, and retirement. An awakening is happening. Wall St. and their corporate owned media have 2 options or some combination of them: (1) flat out change the rules and tell the plebs to fuck off; (2) discredit the plebs and make them look “crazy.” + +We can’t control the first. We can control the second. And by appealing to our better nature (DD and education, rather than tabloid posts), we do all we can to discredit their spin. + +And so, while I think the DD is never done (even though there has been a lot already), and that being Zen is key... just peacing out hurts the image of the Hodlers because the vocal Minority takes over... much like how the vocal Left and Right on social media make their entire parties look ridiculous. The MSM won’t refer to any of the DD (because it would make us look rational and sane), but, if weren’t not careful with what we post and upvote, they will report on tabloid-like posts to depict us as nutjobs. + +—————— + +**TLDR**: +Our best contributors have left us or gone bravosixdark and the sub has been devolving. This has been happening since Autumn 2021. And has coincided with the GME drop. I fear that the growing chaos and divergence from the sub’s roots is the bigger FUD than any individual assertion/theory/etc. + +There was a time when DD littered the front page... + +...When you’d wake up in the morning and check the sub to see if Criand, Atobitt, HomeDepotHank, Leenixus, GlassCastle guy, Yelyah2, or any of the great DD contributors had posted some juicy new anaylsis of what’s been going on the past year. + +...When dank memes, songs, and well-developed montages pumped you the fuck up. + +. . . +Now? + +The current top voted post on the front page is about a raging hedgie and his smoothie. The connection to the stock? None. + +Anything that isn’t “MOASS/moon tmrw” gets downvoted, even if it is still in favor of the stock. + +Some of the top voted posts of the past few months? The “This is...” posts with a picture of people we already know about. MayoForceOne tracking. Tabloid. Sensationalist. Easy to spin as “culty/conspiracist.” + +The ongoing battle between options and DRS, and whether either is FUD. A false dichotomy? Yes. Stamped out in the raucus that is the debate is the idea that we should be getting back to the DD and giving new apes stuff to digest. Purple donuts mean nothing to them who don’t understand why to hold the stock. + +In sum, +I fear that whatever hedgie hired psychologist team is on the job knows that it is not any particular idea or theory that is the most effective FUD... but the deterioration of a cohesive society. Look at how your own country is divided by any number of given issues... it’s not your neighbor’s differing political views on a particular topic that FUD’s you about the future of humanity... it’s the amalgamation of all of the differing views and the fights over them, and the overall feeling of a disjointed and scattered fabric of society that can only be described as “chaotic.” + +This sub is there. And I’m sure it’s why many here have peaced out or gone dark. To avoid the shills/bots slamming them for contributing good DD or data (thinking of Yelyah and Leenixus, among others). To avoid ignorant apes for slamming them, even if the ignorance is innocent. To avoid the growing appearance that this sub is becoming a slamfest on anything FinancialSystem, rather than about the Stock. + +I hate the current system too. Since the days of Ron Paul, I’ve believed that the number one threat to Our future is the financial system and that we need to EndtheFed. + +I’ve loved seeing a growing collective conscience regarding the fed and the system and the threats they pose beyond a surface level “they’re fucking us.” +But we need to keep sub about the stock and educational, and not tabloid (ie. Hedgie rages with a Smoothie). New apes are counting on that. Current apes about the stock are as well. And I’m sure the Finance-owned Media loves to see us appear more and more “conspiracy” and “cult” minded. And it’s easy to spin it that way when we tabloid-esque posts keep being the most upvoted, as opposed to educational and data-driven DD. + +Edit1: this post was a spur of the moment rambling prompted by bankerSmoothie, and has gotten way more attention than I thought it would. BankerSmoothie was the straw that brike the camel’s back for me. What has been my deepest concern is the ghosting by our great DD contributors. You don’t know what you had until it’s gone. And these apes were doing it for FREE. Yelyah2’s data and modelling and the berating she’d get if the data was bearish... why does anyone care if you like the stock? Data is data and we’re here to learn and observe in real time. Leenixus and his DD. I watched as apes/shills/bots chewed him out, and he basically said “fine. Not wasting my time doing this just to grt chewed out. Peace.” And many of the DD writers don’t even have accounts anymore (Hank) or are bravosix (Atobitt). Hell, even Criand pokes his head in only once in awhile. Or Possibly6 and his Elliot Waves. And the chewing out he’d get (he was right BTW. Missed the bottom by ~$6). They leave because they get bitched on after doing so much for Free. Let’s get back to loving our DD contributors. + +The post is not meant to say we should prohibit fun and laughs (you’ll note the dank memes etc I reference with nostalgia). It is only meant to have us refocus on the educational and rational as the rule. And even the fun as the rule. But never the trash, low-effort, or forum sliding. +Not looking for a get rich quick scheme. I know this will take time. Please give me advice for someone who struggles with saving! I work an ok job, make about $22 an hour. Any advice or tips is welcomed. Besides the “give me your bank info” lol. Thank you! +Amazing utility and awesome team! This project is going to the parallel universe! + +&#x200B; + +✅ AI Contract Audits Live! Audit tokens for red flags to protect your investment! + +&#x200B; + +💪Amazing team from Fortune 500 companies! + +&#x200B; + +💲Huge marketing budget! + +&#x200B; + +😯 Already Incorporated and listed on Indacoin! More exchanges coming very soon! 🚀 + +&#x200B; + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +&#x200B; + +🚀MarketMove Madness! $10,000 Trading Competition IS LIVE!!! 🚀 + +&#x200B; + +🥇Main prize - 10,000 BUSD + +&#x200B; + +💥 But there is more: + +We decided to award more investors: additional 128,000,000 $MOVE in prizes ❗️ + +&#x200B; + +🥈40,000,000 in $MOVE + +🥉20,000,000 in $MOVE + +&#x200B; + +Top 4-10 - 4,000,000 in $MOVE + + +&#x200B; + +&#x200B; + +➕ MarketMania - The last 10 verified buyers (as per transactions on the blockchain) before the contest ends at 9 AM EST will receive 4,000,000 $MOVE tokens each. + +&#x200B; + +❗️Winners need to hold at least for 24 hours after the end of the competition. Any sells will get you disqualified instantly. + +&#x200B; + +❗️Check pinned for details. + + +&#x200B; + +&#x200B; + +➡️ Join here: [marketmove.ai/competition](https://marketmove.ai/competition) + +&#x200B; + +➡️ Join out TG: [https://t.me/MarketMoveAI](https://t.me/MarketMoveAI) + +&#x200B; + +➡️Announcements: + +[https://t.me/MarketMoveAINews](https://t.me/MarketMoveAINews) + +&#x200B; + +➡️Twitter: + +[https://twitter.com/MarketMoveAI?t=yPYQoEALc0JM7QffUEkyzw&s=09](https://twitter.com/MarketMoveAI?t=yPYQoEALc0JM7QffUEkyzw&s=09) + +&#x200B; + +➡️Website: + +[Marketmove.ai](https://Marketmove.ai) + +&#x200B; + +\[START: 10/08/2021 9AM EST , END: 10/10/2021 9AM EST\] +Edit on title - ...even though I didnt have a \*margin debit\* + +So after 2 fucking weeks of waiting without getting a call back and calling every day for an answer to my question about why I'm [missing shares for my proxy vote](https://www.reddit.com/r/Superstonk/comments/uevrvs/update_fidelity_hasnt_found_where_10000_dlls/), I finally spoke with someone who EXPLICITLY told me this: + +&#x200B; + +"I just heard back from the proxy team and they said those were lent because you have a margin account... they said they can lend your shares because you have a margin account, regardless of whether you had a margin debit or not" + +I just said, you know what, if thats the answer - I'm happy, but only if you can provide that to me in writing, because I can probably compile over a dozen references where fidelity reps have repeatedly said this is not the case, only if youre on the share lending program or if you have a margin debit. + +&#x200B; + +They even have a post with that written in BOLD, and on a fucking table. As soon as I get that in writing, I'm gonna post that shit all over and make it clear to everyone that fidelity is lying to their faces. + +To be clear, I have a margin account because I benefit from trading options - mostly i sell calls and puts on other securities... but if that comes at the expense of having my shares lent, then they can go suck a dick, I'm transferring the rest of my GME out to computershare and the rest of my positions to an options trading broker. + +&#x200B; + +https://preview.redd.it/1dgmax87a2z81.png?width=703&format=png&auto=webp&s=180b8fb94b6078e900d4fb89fb4daa88c0aea308 +# 🚨[MUST WATCH CARL HAGBERG AMA](https://www.youtube.com/watch?v=KHnpPfWdf78)🚨 + +&#x200B; + +[Artwork by absolute legend u\/Bye\_Triangle](https://preview.redd.it/qdx38zyclkx61.png?width=1000&format=png&auto=webp&s=566cd7567eaa8b04d3fdd1acd8fe9076ab763e6a) + +The focus of the sub from now until June 9 is going to be **VOTING** + +We don't make claims about catalysts around here. So I'm definitely NOT telling you that this could be the catalyst. + +But the importance of exercising your right to vote cannot be understated. **THIS IS OUR ONE SHOT TO PROVE TO THE SEC AND EVERYONE ELSE WHAT IS HAPPENING. GAMESTOP NEEDS OUR HELP!!** + +Fidelity users, TDA, WeBull, Vanguard, Schwab, and more all reported being able to get their hands on their control number and vote as of yesterday. Feel free to drop a comment below if you have already voted and want to show that off!! **WE ARE GIVING AWAY VOTED STICKERS (FLAIRS) TO EVERYONE THAT HAS VOTED!! 🚀🚀🚀🚀🚀🚀** + +Be sure to check your inbox and contact your broker if you have any questions. And also be sure that if you have multiple brokerages accounts, you will need to get a different control number for each one. So if you carry shares in 3 different brokerage accounts (I do, cuz I don't trust a bitch) then you will have 3 different control numbers and will be voting 3 different times. + +&#x200B; + +**Steps to Voting:** + +1. HAVE YOUR CONTROL NUMBER + +Obtained from your broker, not to be shared with anyone. This number should be confidential. + +2. INPUT THAT CONTROL NUMBER THROUGH OFFICIAL CHANNELS ONLY (THROUGH THE GAMESTOP CORPORATE SITE OR LINKS FROM YOUR BROKER). + +Do not input your control number unless you are 100% sure that the site is legit. + +3. UNDERSTAND WHO AND WHAT YOU ARE VOTING FOR. + +Take a moment to see what the board recommends you vote for if you are unsure. This community can not tell you how to vote, only you can decide that. + +4. SUBMIT YOUR BALLOT. + +5. SHARE WITH EVERYONE HOW PROUD YOU ARE TO HAVE VOTED. + +**Gamestop's Board of Directors is urging everyone to vote as soon as possible.** + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +🐈 **BUT PINK, WHAT IF I HAVEN'T GOTTEN MY CONTROL NUMBER YET?! 🦧** + +**Well, did you...** + +&#x200B; + +* Check your broker inbox for proxy info✔ +* Check your email✔ +* Send a message via your broker help/chat interface✔ +* Call your broker and request your control number✔ +* Look around the comments and other posts to see if any resources have been shared that might help you in your search✔ +* Check your broker's website for an FAQ- Many have a landing page with GME specific proxy info✔ + +Keep in mind some brokers just haven't issued them yet. And some are anticipating up to a week or longer wait before you can vote. Geez, it seems almost like they're having trouble finding the shares to vote or something. 🤔 + +**I can confirm that Robinhood and TDA are issuing control numbers that come up invalid when you enter them in the official Gamestop proxy website. I don't know what that means. I am still investigating why brokers seems to have their own landing page for proxy voting. Idk am not computer nerd, am just pink cat 🤷‍♀️ I can't wait to see what Carl has to say about that!!!!** + +[More info from Euroapes trying to vote!!](https://www.reddit.com/r/Superstonk/comments/mwpqdf/europoors_what_needs_to_be_done_to_be_able_to/?utm_source=share&utm_medium=web2x&context=3) + +[And a report from Degiro](https://www.reddit.com/r/Superstonk/comments/n8bq3m/how_to_vote_with_degiro_including_template_and/?utm_source=share&utm_medium=web2x&context=3) + +# [An important word from our Mod](https://www.reddit.com/r/Superstonk/comments/mxhcnq/beware_phishing_scams_are_trying_to_steal_your/?utm_source=share&utm_medium=web2x&context=3), u/StonkU2 about online safety + +[Oh lawd they votin](https://preview.redd.it/dooejuzjlkx61.png?width=842&format=png&auto=webp&s=fcf3640208cebd80324b221e5730509ed9e3d3f4) + +**As with anything, nothing changes if you don't VOTE!! 💪** + +# 📣📣Speaking of the importance of Proxy voting...📣📣 + +&#x200B; + +**Do you apes wish you knew why we keep talking about voting being the most important play right now?!** + +**Do you wish you could ask someone what proxy voting is?!** + +**DO YOU WISH SOMEONE WOULD JUST COME AND EXPLAIN WHAT THE HELL ALL THIS MEANS?!** >!Yes please dear God!< + +&#x200B; + +**You really loved having Queen Kong, Dr. T on our Superstonk Live YouTube. Now it's time for you to meet** [**~~your Swedish Grandpa~~**](https://www.reddit.com/r/PewdiepieSubmissions/comments/kkc6k5/my_swedish_grandpa_tried_lingonberry_g_fuel_for/?utm_source=share&utm_medium=web2x&context=3)**, Retail Shareholder Rights Expert, Mr.** [**Carl Hagberg**](https://optimizeronline.com/about/)**.** + +&#x200B; + +[Queen Kong says Carl is OG Ape 💪🦍](https://preview.redd.it/w4w4ikenlkx61.jpg?width=1024&format=pjpg&auto=webp&s=b99620abe63bee2c4c4c1892ea2b01e09e7d7774) + +*"Mr. Hagberg is considered to be one of the nation’s leading experts on individual stock ownership programs. He has helped over 100 companies (including companies and government agencies in several Eastern European and Central Asian countries) to launch, improve or remarket programs aimed at customers, employees, existing stockholders and other affinity groups.* ***He is also considered to be a leading expert on the proxy voting process and has served as Independent Inspector of Election, both in contested and uncontested situations, at over 300 annual and special meetings of shareholders."*** + +Just like Dr. T and many of the others I first learned about, I first saw Carl while watching the MANDATORY DOCUMENTARY FOR ALL APES, [The Wall Street Conspiracy](https://youtu.be/Kpyhnmd-ZbU) + +. This documentary first made its rounds in the subs in early February during the bleeding red days, and it really helped me gain some perspective. **I'm serious I will give you a 💩 flair if you don't watch this documentary. Watch it and learn of the apes that came before us.** + +# [Upon Dr. T's recommendation, everyone needs to read this comment from Mr. Hagberg to the SEC regarding overvoting!🚨](https://www.sec.gov/comments/4-725/4725-4611649-176367.pdf) + +**We are honored and thrilled to have Mr. Hagberg in time to discuss these issues before the annual meeting on 6/9 ( ͡° ͜ʖ ͡°)** + +&#x200B; + +[It's the most important thing you can do. Besides HODL!](https://preview.redd.it/rh61csszlkx61.png?width=900&format=png&auto=webp&s=8fbbe8179e5316e9837f0495c138b43d228334c9) + +# A note after speaking with u/Atobitt + +As you all know, Atobitt is going to be our host for this **GAME CHANGING AMA** 💯 + +He spoke with our guest on the phone earlier today to do a bit of a walk through before show time next week. He came back so excited he could hardly get a word in. He wanted me to express the urgency and attention we need to pay Carl and what he will be telling us. + +After speaking with Carl, Ato had this to say "I'm literally not worried about any of this anymore, I am now Zen". **THIS IS HUGE!** + +&#x200B; + +# JUST LIKE WITH DR. T... IF u/ATOBITT THINKS THIS IS A GAME CHANGER, THEN I AM JACKED TO THE TITS 🚀🚀🚀🚀🚀 + +&#x200B; + +# Change is coming +“Now that people are going back out again, GRPN will go up!” + +Stop it. + +“Nobody will be watching NFLX anymore, we should short it!” + +Really, stop it, you sound like an idiot. + +You only hear this type of armchair analysis from new traders. It’s not even fundamental analysis, it’s some arrogant mix of believing you figured out something nobody else has, and a twisted belief that predicting the market is easy (or even doable). + +Long term investors might choose stocks based off true fundamental research into a company’s overall health and prospects, or they might just pick the names of companies they use everyday (AAPL, AMZN, GM, etc.). Honestly, I’m not sure which way has a better success rate. Nor do I care. And why don’t I care? Because I’m a day trader. + +Half the time I don’t even know what company I’m trading, and I don’t want to know. + +All the matters is what is in front of me, what the market is doing, and am I ok holding overnight if needed. + +Roughly 75% of stocks follow the market (SPY is the best proxy), so I want to know how a stock is performing relative to that. If SPY is dropping, is the stock going up? If SPY is going up is the stock going up at a higher rate? + +If I pick a stock that has strength vs SPY and the market suddenly turns, I have some protection. The underlying has strength on its own (or weakness if you’re shorting). + +I also need to look at the 1/5/15 min chart, where are the moving averages, support/resistance, is there a continuation on the HA candles? Etc.etc.etc. + +And I check the daily chart. Why? Because if I do get stuck in the trade, I want to be comfortable holding for the short-term with some confidence it’s going back up (yes, good day traders are also good swing traders). + +Nowhere in this process do I care about the fundamentals or even the reasons why the stock is moving (unless it’s a sudden change - then I need to know if it has legs). + +There is no easy way to do this and anyone telling you different is either selling you something or about to lose a lot of money. + +Do 95% lose money? Maybe, I’m not sure where that stat comes from, but I wouldn’t be surprised if it’s true. I can tell you from my experience that around 95% of new day traders ask the wrong questions and show no desire to put in the time and effort needed to be successful at it. That doesn’t mean you need to spend years reading books on it before you trade, but you should at least know how to read a chart, have entry/exit strategies, use the best method. + +I constantly get questions from people, who are already in a trade, asking how they can find “support”, or wondering why their call option isn’t going up more. + +So stop trying to outthink the market, drop the “common sense” analysis, treat this like the job that it is, and then maybe you’ll become one of the 5%. +What has only been a few months in this bull run has already seemed to be an eternity for those who were with us here in January or earlier. Binance Smart Chain has brought on a flurry of action and the meta has shifted time and time again, leading to our current memecoin dominated market. + +Which is all fine and good, people love gambling in bull and bear markets, that will never change as serotonin is hardwired into our limbic system, but it certainly has made everyone wary as we continue to reach new heights. + +Still, with **ETH clearly on a moon mission to $10k**, it seems we have time before that inevitable top signal, this bull run likely continuing through this summer and at least through till the ETH July update. After all, we’ve seen about 3 or 4 “top signals” this bull run, but the 2017 bull featured 9 at least. + +So, we can expect the legitimate memecoins (I know that sounds ridiculous, but look at DOGE and tell me that coins with that level of market cap are anything less than legitimate) to continue mooning and for this market to press on, new buyers entering everyday. Imagine when the DOGE normies (that’s what they are at this point) start moving their memecoin holdings onto SafeMOON and down? Volume, volume, volume. + +So **HappyCoin, skyrocketing to an 8-figure market cap and 30k+ holders leading to a CEX listing in record time,** seems primed to be a fixture in the crypto space. Doxxed dev about to fly to LA to create larger influencer connections to pair with a weekly donation livestream that keeps gaining traction, this is the exact kind of project with the exact kind of branding (positivity, raising mental health awareness) that is built for our digital social space today and tomorrow. + +Seriously, **lead dev is flying to LA tomorrow** after starting this coin in what looks like a basement just a couple weeks ago. If that doesn’t have moonshot written all over it, I don’t know what does, but it’s been teased time and time again that we’ll be **seeing him in some videos with some giant influencers** which should accelerate HappyCoin into the mainstream. + +So enjoy being a part of a token that has already built relationships with several major mental health organizations, has already **secured a WhiteBIT listing,** has a **Certik audit on the way,** and has generally taken every right step to be more than the sea of trash that seems to keep filling and copying these successful business models ineffectively. + +Presenting a **strong buy signal at a $15M market cap,** I wouldn’t hesitate as the WhiteBIT listing will introduce this token to a whole new sea of buyers, invigorating some new hype that should flood the coffers. Also coming is a **video how-to tutorial to help convert all of these YouTube and TikTok normies into BSC**, which should help expand the entire market as a whole, another forward-thinking move by HappyCoin. + +CG, CMC, still on the way with another huge donation going out this Friday, don’t miss it. Check it out while you can still **buy the fucking dip.** + +[Website](https://www.thehappycoin.co/) + +[PancakeSwap](https://v1exchange.pancakeswap.finance/#/swap?outputCurrency=0xB0B924C4a31b7d4581a7F78F57ceE1E65736Be1D) + +[Telegram](https://t.me/happy_coinTG) +After struggling to paid off my credit cards debt (18k) for years and mentally push me into depression, I finally clear off my cc debt tonight, in this lock down period i managed to save quite a bit of cash (working from home, save on petrol and eat at home most days) and put my mortgage on hold for temp and used that money to pay off CC debt then cut both my cards and close the accounts. + +I'm 100% Cc debt free and I'm so much relieved now. + +I just finished reading barefoot investors and putting some of it strategies in place, my question what others books that you can recommend that catered for Australian ppl, I primarily looking books that teach me how to grow my wealth, but any finance book in general would be appreciated too :) + +And thanks to you all for the advices that I get from /ausfinance. +Saw there was another post but it didn't mention LUV as well. + +[https://www.barrons.com/articles/warren-buffetts-berkshire-hathaway-sells-huge-blocks-of-delta-southwest-stock-51585949991](https://www.barrons.com/articles/warren-buffetts-berkshire-hathaway-sells-huge-blocks-of-delta-southwest-stock-51585949991) +The increasingly-depraved debuts of Oreos with more stuffing indicate unstable amounts of greed and leverage in the system, serving as an immediate indicator of that the makings of a market crash are in place. Conversely, when the Oreo team reduces the amount of icing in their treats, markets tend to have great bull runs until once again society demands to push the boundaries of how much stuffing is possible. + +https://en.wikipedia.org/wiki/List_of_Oreo_varieties https://en.wikipedia.org/wiki/List_of_stock_market_crashes_and_bear_markets + +1974: Double Stuf Oreo released. Dow Jones crashes 45%. FTSE drops 73%. + +1987: Big Stuf Oreo released. Black Monday, a 20% single-day crash and a following bear market. + +1991: Mini Oreo introduced. Smaller icing ratios coincide with the 1991 Japanese asset price bubble, confirming the correlation works both ways and a reduction of Oreo icing may be a potential solution to preventing a future crash. + +2011: Triple Double Oreo introduced. S&P drops 21% in a 5-month bear market + +2015: Oreo Thins introduced. A complete lack of icing causes an unprecedented bull run in the S&P for years + +2019: The Most Stuf Oreo briefly introduced. Pulled off the shelf before any major market damage could occur. + +2021: The Most Stuf Oreo reintroduced. Market response: ??? +A little bit of background: I am an undergraduate economics student from Spain with quite a bit of passion in the subject. I am a Junior now. + +So this year I came to a US University as an exchange student under a bilateral agreement between my Uni and Purdue University. So far so good, love the American experience in many ways, but in others, I have been pretty disappointed with the classes I am taking here. + +My first two years of Econ in Spain were intense, but interesting and pretty integral. We started on the very basics on the first year, covering intro to Econ, univariate and multivariate calculus, intro to stats (Random Variables, probability, etc.), Micro and some other miscellaneous stuff such as legal frameworks for Economics. + +On the second year we moved onto more advanced coverings of these topics. I took Game Theory, Advanced Microeconomic Theory, Advanced Macroeconomics, Dynamic Macro, Industrial organization and more. + +Overall, most if not all courses we had to take in sophomore year involved at least some form of applied calculus, which we obviously learned in our first year. No course relied on simple algebra or visual solving methods; many included some form of constrained optimization. We even went on to learn intertemporal optimization. We use all these tools widely. In econometrics, although and introductory course, we also learn how to prove and derive stuff and work it all out. + +Although my University is somewhat known around Spain for being pretty tough and reputable on Econ, it still makes sense that calculus is an essential tool of most microeconomic courses, and that overall, math is a recurring tool in many classes. + +But now, I come into the US and it seems like all the ECON courses I am taking are a joke. None of them mention the slight use of calculus on their syllabus, and after two weeks of classes, it even seems like Professors are reluctant to that idea. They try to calm down their students saying things like "don't worry, we won't be going into hard math like calculus in this course". One class even had an introductory "math review" session in which **we were explained the properties of exponents and how to fucking plot linear equations.** It just baffles me and it feels frustrating that this year will be spent learning about applied economics without using math at all, not even simple supply and demand charts sometimes. Ever since I started college I have been told by many Professors and counselors that as an Econ student, the more math I take, the better. And I abide by it: not only do I love math but I love applying it. So taking Calc I and II in my first year isn't obviously enough, and that's why I feel great about having had to use math in so many other classes. But now, here, everything is explained in such a simple and straightforward way, with little to no reasoning, that I just feel like I am wasting my time. + +I'm taking Environmental Economics, Time Series Analysis, Behavioral Economics, International Trade and Linear Algebra + Diff Equations. The only two classes that seem math-wise are Time Series and Lin. Algebra+Diff Eqns, but still, why would the rest be taught at such a low level? + +The way college works in Spain is that on the first two years most classes are mandatory for all students enrolled in a specific major. Then, on the third and fourth year each student can branch out onto their preferable electives, which must be selected from a pool of econ or econ related electives. + +In my case, the ones that I was interested in most were developing Econometrics (micro and macroeconometrics, applied econometrics, proof based stats courses, time series...) and Micro (advanced behavioral econ, Information Economics, Advanced Industrial Econ, Environmental econ...), besides from others. So in order for my exchange agreement to work, I had to look for some of these courses in Purdue (or equivalent courses). This was already hard enough since it seems Purdue Undergrad Econometrics classes won't go further than Econometrics 101, unlike in Spain. But still, after finding some seemingly decent equivalencies, this is what I come across when actually attending the classes. + +I am aware that the Spanish university system is, by itself, quite different from other countries', even European ones. I know the US college system is way more flexible and open in terms of what you want to focus on during your years in college, that's great, but it seems this comes with the cost of -sometimes- lacking a strong base in essential knowledge in certain subjects. In all three classes I mentioned earlier, we had to be introduced to how supply and demand works, to what a model is, to how Econ is studied. How am I being taught this three years after I learned it, again? For anyone to be enrolled in upper level applied econ classes, I believe there should be a required and expected minimum level of knowledge and math skills. I am very frustrated and lost as to what to do and I am not sure anymore if coming to study to the US is worth it. + +**TL;DR: It seems that Econ classes in the US are a dumb joke compared to the classes I used to take in Spain. Almost no math at all and basic concepts from ECON 101 is what we've been taught so far (junior year taking upper level classes). I'm interested in quantitative economics and applied micro, am worried I'm not gonna learn much this year.** + +**EDIT:** Wow, thanks so much to everyone for their replies. Definitely didn't think this thread would get so many. All of your advice is greatly appreciated and I see things clearer now. I got a lot of new insights that will for sure help me out. Thanks so much, everyone!! +So, I recently learned that banks don't need to have the money on hand to lend it. This seemed reasonable to me given that they had reasonable confidence in future payments being able to cover the cost of the new loans, but then I learned that banks will literally create money in this process. Specifically I'm talking about Australia and USA here. + +So, when a banks lends let's say 300k out and receives 360k back, does this mean that the bank profited not 60k (the difference) but rather 360k because the 300k never existed in the first place? + +As an additional side note, what are the consequences of this 'new money' if this is true. This seems like it would be a driver of inflation to me. + +Thanks for the responses. +A little bit of background: I am an undergraduate economics student from Spain with quite a bit of passion in the subject. I am a Junior now. + +So this year I came to a US University as an exchange student under a bilateral agreement between my Uni and Purdue University. So far so good, love the American experience in many ways, but in others, I have been pretty disappointed with the classes I am taking here. + +My first two years of Econ in Spain were intense, but interesting and pretty integral. We started on the very basics on the first year, covering intro to Econ, univariate and multivariate calculus, intro to stats (Random Variables, probability, etc.), Micro and some other miscellaneous stuff such as legal frameworks for Economics. + +On the second year we moved onto more advanced coverings of these topics. I took Game Theory, Advanced Microeconomic Theory, Advanced Macroeconomics, Dynamic Macro, Industrial organization and more. + +Overall, most if not all courses we had to take in sophomore year involved at least some form of applied calculus, which we obviously learned in our first year. No course relied on simple algebra or visual solving methods; many included some form of constrained optimization. We even went on to learn intertemporal optimization. We use all these tools widely. In econometrics, although and introductory course, we also learn how to prove and derive stuff and work it all out. + +Although my University is somewhat known around Spain for being pretty tough and reputable on Econ, it still makes sense that calculus is an essential tool of most microeconomic courses, and that overall, math is a recurring tool in many classes. + +But now, I come into the US and it seems like all the ECON courses I am taking are a joke. None of them mention the slight use of calculus on their syllabus, and after two weeks of classes, it even seems like Professors are reluctant to that idea. They try to calm down their students saying things like "don't worry, we won't be going into hard math like calculus in this course". One class even had an introductory "math review" session in which **we were explained the properties of exponents and how to fucking plot linear equations.** It just baffles me and it feels frustrating that this year will be spent learning about applied economics without using math at all, not even simple supply and demand charts sometimes. Ever since I started college I have been told by many Professors and counselors that as an Econ student, the more math I take, the better. And I abide by it: not only do I love math but I love applying it. So taking Calc I and II in my first year isn't obviously enough, and that's why I feel great about having had to use math in so many other classes. But now, here, everything is explained in such a simple and straightforward way, with little to no reasoning, that I just feel like I am wasting my time. + +I'm taking Environmental Economics, Time Series Analysis, Behavioral Economics, International Trade and Linear Algebra + Diff Equations. The only two classes that seem math-wise are Time Series and Lin. Algebra+Diff Eqns, but still, why would the rest be taught at such a low level? + +The way college works in Spain is that on the first two years most classes are mandatory for all students enrolled in a specific major. Then, on the third and fourth year each student can branch out onto their preferable electives, which must be selected from a pool of econ or econ related electives. + +In my case, the ones that I was interested in most were developing Econometrics (micro and macroeconometrics, applied econometrics, proof based stats courses, time series...) and Micro (advanced behavioral econ, Information Economics, Advanced Industrial Econ, Environmental econ...), besides from others. So in order for my exchange agreement to work, I had to look for some of these courses in Purdue (or equivalent courses). This was already hard enough since it seems Purdue Undergrad Econometrics classes won't go further than Econometrics 101, unlike in Spain. But still, after finding some seemingly decent equivalencies, this is what I come across when actually attending the classes. + +I am aware that the Spanish university system is, by itself, quite different from other countries', even European ones. I know the US college system is way more flexible and open in terms of what you want to focus on during your years in college, that's great, but it seems this comes with the cost of -sometimes- lacking a strong base in essential knowledge in certain subjects. In all three classes I mentioned earlier, we had to be introduced to how supply and demand works, to what a model is, to how Econ is studied. How am I being taught this three years after I learned it, again? For anyone to be enrolled in upper level applied econ classes, I believe there should be a required and expected minimum level of knowledge and math skills. I am very frustrated and lost as to what to do and I am not sure anymore if coming to study to the US is worth it. + +**TL;DR: It seems that Econ classes in the US are a dumb joke compared to the classes I used to take in Spain. Almost no math at all and basic concepts from ECON 101 is what we've been taught so far (junior year taking upper level classes). I'm interested in quantitative economics and applied micro, am worried I'm not gonna learn much this year.** + +**EDIT:** Wow, thanks so much to everyone for their replies. Definitely didn't think this thread would get so many. All of your advice is greatly appreciated and I see things clearer now. I got a lot of new insights that will for sure help me out. Thanks so much, everyone!! +Lurker for nearly two years here. Some information held back to conceal my identity. + +I have no one to tell about this huge victory because I kept my debt a complete secret. I hope that someone who is in debt reads this and knows that you're not alone and you CAN get out of debt. Maybe not entirely. But the journey must start somewhere. I am super lucky I live in Canada where I don't have medical debt and I have a sibling who I could move in with. While I was in debt, my income was about $60k per year. I know this sounds like a ton of money but I live an extremely high cost of living area and when I started to get sick, my income dropped significantly (I am hourly). + +In May of 2018, I was diagnosed with a gynecological cancer (I am early 30's and it is not a common cancer for young women...which is why I wasn't diagnosed for some months) and had surgery to remove a large tumour. My tumour was Stage 1 and had not spread. I recovered and went back to work in August of 2018. That was ROCK BOTTOM. When I went back to work, my debt had hit $24,900 and yes, it was entirely on two credit cards with 19.99% APR. No bank would give me a consolidation loan. My parents and siblings did not have money to spare. My parents had just divorced and my siblings were making large life changes such as buying property (1 sib), having children (2nd sib), and going back to school (3rd sib)...I did not want to ask. I kept it a secret. + +My entire debt was racked up between March of 2017 and May of 2018. The triggering event was...my bf of 8 years dumped me out of the blue and left our shared apartment in March of 2017 (while I was at work...). I live in Vancouver, Canada, where a 1 bedroom is about $2000/month. Following being dumped, I had to find a new place to live in a city with a vacancy rate hovering around 1%. Rents were skyrocketing. + +When I was dumped, I had no debt. I also had NO savings, as I just thrown my entire savings account at my student loan to pay it off (HORRIBLE TIMING). So...always have an emergency fund. Do not start paying off debt until you have $1000-$2000 saved up...or else you'll just go into debt again. + +I went into debt to pay for an apartment deposit (rent, damage deposit, tenants insurance, moving van ect). Then my car (an old Honda that is still going today) needed extensive repairs (brakes). My hearing aids died in September (Yes, I am partly deaf, and no, these are NOT covered by Canadian health care...my hearing aids were $6000). And I started to get sick and work less. I had no idea I had cancer. I was not diagnosed properly until my third doctor's visit. Around this time, my work was wondering why I was coming in super late and wasn't producing good work. I am a professional (regulated profession, won't say which) and this was scary. I thought I was going to lose my job. + +So I racked up ALOT of debt. When I got sick and finally got a goddamn medical certificate signed by a doctor, I had to wait for my Employment Insurance to kick in, and paid my bills using credit cards. I had no short term medical insurance from my workplace. The benefits are shit...anyways. + +Here is what I did to get OUT of debt. + +\- I moved out of my expensive apartment, sold half of my belongings on Craigslist, and moved in with a sibling over 1 hour from my work (one way) into a really crappy apartment + +\- I sold things like my skis on my craigslist. This HURT. But it was cash. Threw that at debt. + +\- I started to work at home more to cut down on my commute (I realize this isn't feasible for a lot of people but basically, gas will KILL you, as will wear and tear on your car. If you can't work at home, move closer to work, move into a house with 8 PEOPLE, whatever it takes. Debt is an EMERGENCY). + +\- I threw every DOLLAR at my debt. Every payday, I kept an $x amount of money for my cellphone bill, rent, gas, and food, and threw the remaining $ at my debt. If the money wasn't in my account I could not spend it. + +\- Stopped buying ANYTHING. I cut my own hair. I made my lunch. I ate shit like crackers and canned soups. I stopped buying clothes. I sewed holes in my clothes. You name it. NOTHING. + +\- I did a balance transfer to get some debt onto a 0% card (10 months of no interest, pay $10 per month to maintain the balance) + +\- Took care of my mental health by going for walks, riding my bike, reading at the library, grabbing an ice cream, calling my friends, visiting my parents, writing in my journal, going for hikes ect. + +\- I got serious fatigue paying off my debt. I felt like I was throwing money at a fire and it never went out. This will happen. It is called debt fatigue. When this happened, I would go for a walk, cry in my car, write down how much I had paid off, write down what I would do when the debt was gone...it helped. You have to push through this. It is incredibly difficult but once the balances start dropping, it gets easier and easier. You start to see the light at the end of the tunnel. + +\- I've read this before. You sometimes cannot budget yourself out of debt. Sometimes, it is just too big. I just want people to know, you can be in the darkest hole of your life (for me, that was being dumped by my partner of 8 years at age 32, getting cancer that threatened my ability to ever have kids, and winding up in deep debt) and you MUST stick to the plan, write down your goals, and DO something about it. The bad times won't last. Tough people do. + +Fuck...I can't believe it is gone. Thank fuck. + +Always have an emergency fund. ALWAYS. If transportation or rent are killing you, be creative to the best of your ability, I know it is HARD out there, I am a renter in an insane market and I live in a CLOSET. My car is a piece of shit. My clothes have holes in them. But my debt is GONE. Do whatever you can! + +Bless you all. + +&#x200B; + +edit. Thank you for the gold. +The way it happened wasn't entirely pretty. My living situation at the beginning of covid got really bad (the landlord had always tended to show up unannounced, but during lockdown they also moved a stranger in without any prior notice, and ignored multiple reports from my unit and others that there's pervasive black mold throughout the building), and I had to move while also doing a buyout with the old place since my cosigner didnt want me to go the lawsuit route. During that I paused my debt consolidation loan payments to allow me to juggle my rent and my buyout installments, and i lost the settlements the company had negotiated for me. + +The first month after my buyout ended (July), I became eligible to work overtime at work. I got 40 total hours of OT during that month. + +I made $600 more than usual, but pretended I didnt. Since I'd already lost my debt consolidation settlements I skipped one more payment, just to put that money straight in the bank, just as an insurance policy to avoid pursuing more debt if there's an emergency. That payment would have been $400. + +I know skipping more payments than I had to wasn't the most ideal way to do things, but it's a huge mental weight off of my shoulders to know that if something happens next month I'll be prepared for once. +I wouldn't be saying this if this was a shitcoin. Or a memecoin. Or a coin with no use-case. Because $BOG is simply none of the above. + +I won't tire you with all the tech talk and specifics but essentially everything that they are developing is centred around [BogTools](https://bogtools.io/). It's a BSC protocol which provided oracles. These oracles are fully decentralised and work on-chain, and every time someone buys or sells the native token $BOG, it triggers the oracles to execute the code in their smart contracts. This means they can be used in a number of ways: + +* **DEX Limit Order Trading**: Being able to set a certain price for your BSC buy or sell order to execute and set "Take Profit" or "Stop Loss" -\*orders for any BSC coin on a decentralised exchange like PancakeSwap, not aware of anyone doing this on BSC right now. This will be available April 2nd! +* [BogRNG](https://docs.bogtools.io/getting-random-numbers): The way this works can get confusing, but it's essentially a random number generator which developers can use to build on-chain casinos, lotteries and games that need randomness. +* **BogCharts**: Using the oracles to get price data, the devs have already launched a [beta](https://www.reddit.com/submit#price) version of this for the BOG/USD pair and are aiming to create a free-to-use chart service for any and all BSC coins that displays truly live prices. +* **NFT Marketplace**: Yep, they're also doing NFTs. Their goal is to try to integrate their NFT marketplace with the oracles and use them to execute contracts allowing for the NFTs to have a use and to be gamified rather than just having speculative value. +* [BogARG](https://bogged.finance/): Alternate Reality Game. More on gamification, the devs have made the trading and staking of BOG into a game called Bogged. Every time you sell BOG your wallet gets stained with a shame token, $NGMI (Never Gonna Make It) which is permanent, as in it cannot be traded. This will bring the holder in a disadvantageous positions in further phases of the ARG. + +You can find the tokenomics and the rest of the details and facts either on [BogTools](https://bogtools.io/) or on the ARG website [bogged.finance](https://bogged.finance/), I just want to make a reference to the market cap at the time of writing to compare with other projects. + +So the native token, $BOG's **market cap** is currently just above **$20M, and a circulating supply of \~2,390,000 BOG**. In terms of competitors, I guess Berry Data can still be considered BOG's competitor. However, when one takes into account that BOG has released more fully functioning oracle products in 2 weeks of life than BRY has in over 6 months, not to mention that yesterday BOG surpassed BRY's market cap and then some easily, you'd start to think that BOG doesn't really have any competitive challengers on BSC. Comparisons can be made with ChainLink as well, however the fact that ChainLink is running on the ETH network makes using their services several times more expensive than using BOG's oracles, with BogTools having a much more ease-of-use approach to the whole ecosystem. ChainLink obviously has the backing of institutional money at this point, but that is irrelevant to the quality of the product itself. + +Lastly, I'd say it's laughable at the very least seeing that people still call this a "Meme/shitcoin". It is crystal clear at this point that the momentum that the project gathered early on by using the Bogdanoff memes was a genius way of getting people's attention focused on a project that actually has a useable product to offer, unlike 90% of the BSC scene right now. Yeah, I bought for the memes, but that's because at the time BogTools did not yet have a product roadmap. The developers have managed to create an ecosystem of useable products, filling the huge technological gaps that BSC has being such a new network, while at the same time integrating the native currency as the thing that fuels the whole project, increasing its value simultaneously as the project moves forward. + +When other shitcoins that typically flood these type of subreddits reach market caps of $100-500M, trust me, it’s early. +I grew up pretty poor - I remember my mom finding $4 on the sidewalk and crying because it meant we could eat. I remember not having all 3 utilities on at the same time for most of high school. We would light candles when the electricity was out, go to the YMCA for showers and fill up gallon jugs of water from the gas station to flush our toilet. I never felt poor at the time, but in retrospect it’s alarming how much we did without. + +I saved aggressively for the past 13 years, denying myself all personal luxuries because no matter how much is in the bank, it could all be gone in an instant. I’m finally starting to feel comfortable getting things for myself - new glasses that I should have bought years ago. A proper haircut (not one my husband did with the kitchen scissors). Shoes that aren’t from the thrift store. + +I’ve always made sure to prioritize my daughter’s needs, so she doesn’t feel like I did growing up. And don’t get me wrong, I’m incredibly grateful that I’m able to do that and love that she doesn’t experience that lack of basic care. And I would never let her know that I’m resentful of her attitude… + +But I can’t stand how flippant she is towards money and material goods. She’s constantly watching YouTube shows with wealthy kids, talking about how she wishes we were like them with a mansion and a pool, all the latest toys, etc. + +Last Christmas, I got her a $50 Robux gift card. To me, that was *huge*. I agonized over that decision in the store, but wanted her to be happy, so I got it. I could not believe her reaction when she opened it. “Only $50? That’s okay, I guess.” I was smiling on the outside, but internally screaming (I haven’t bought her Robux since). + +A few days ago, she saw $25 on the counter (it was to buy her yearbook). She took it, walked to Target without permission, and bought toys and candy. It’s not like she doesn’t have money - she has almost $400 in her personal bank account. But I could not believe how little regard she had for money. When I was growing up, I would *never* have taken cash from my parents, let alone $25 - that could have fed us for a week. (And yes, she got in massive trouble for stealing) + +Since then, I’ve really been struggling with resentment at her attitude. I’m so glad she’s so far removed from what I felt as a child. She really is a good kid - kind, cares about others. And I would never tell her this… but the darker side of me can’t help but feel she’s ungrateful and spoiled - especially when I almost never get anything for myself, in order to provide for her. + +Edit: thank you to all who have offered support and understanding! For those sharing critical opinions, judgment, or advice, I’m feeling like I need to explain/defend myself, so here’s some extra info: + +-She’s in third grade. + +-We talk about finances often, and she has her own savings account which she funds through chores (mowing the lawn, doing her own laundry, etc). + +-She’s aware of bills and what it takes to make a household run. + +-I don’t treat her poorly because of my feelings. + +-She does have screen time restrictions, and we encourage healthy perspectives as much as possible - trips to the library, making bag lunches to take to the homeless, donating toys to lower-income children, talking candidly about wealth and class in modern society, etc. + +-She got some pretty serious consequences for the theft and walking to Target by herself, along with a series of talks about the issue. + +-The Target is about a 5 minute walk from our house. No, she’s not supposed to go there. She is allowed to play in the small park right behind our house, with check ins every 15 minutes or so. She came clean as soon as she got back from Target, because she knew she had done something wrong and was feeling very guilty about it. + +-We don’t force her to do any chores! She wanted ways to earn money, we offered her several choices, and she picked the ones she liked. As for the lawn mower, she’s always 100% supervised, it’s a non-powered mower, and we live in a townhouse with the tiniest strip of grass - it literally takes 3 passes and it’s done. She’s not in any danger, and it’s certainly not “child abuse.” + +Edit 2: Wow! Definitely did not intend for this to turn into a parenting advice post. I mostly was wanting to share the conflicting feelings of being happy my child has a stable life, and disappointment that she hasn’t quite figured out gratitude yet. Thank you all for your feedback! I assure you that she really is a great kid and I’m very proud of her. +So this is my rant, against the hundreds of youtubers feeding off monetized videos sharing half assed, poorly researched topics that gather attention of thousands of Indian viewers through clickbaits. I found this video ([https://www.youtube.com/watch?v=\_4eDD4TPtLA](https://www.youtube.com/watch?v=_4eDD4TPtLA)) where the woman talks about a fundamental analysis of RIL but proceeds to show off her ability to calculate EV/EBITDA after 23 painful minutes of her fast talking everything in bold from RIL's annual report. Its very easy to get rid of your money when investing but very difficult to get it back if you spend your time learning through these poorly researched videos. Many times, I have come across people jumping into the stock market armed with best recommendations of the day from some random whatsapp group/youtuber daily recommendation/twitter feed and then complaining that this is a gamble. Isn't there any rule preventing random people from giving investment advice to masses without any quality review ? +We've been getting a lot of submissions on the debate about how much Bernie Sanders' plans would cost, and we thought we'd try consolidating into one megapost to centralize discussion and avoid displacing other economics content. Thanks to /u/geerussell for putting together this list. + +--- + +# Original Analysis and Responses + +* Gerald Friedman's analysis of Sanders plan: [What would Sanders do? Estimating the economic impact of Sanders programs](http://www.dollarsandsense.org/What-would-Sanders-do-013016.pdf) + +* CEA letter in response: [An Open Letter from Past CEA Chairs to Senator Sanders and Professor Gerald Friedman](https://lettertosanders.wordpress.com/2016/02/17/open-letter-to-senator-sanders-and-professor-gerald-friedman-from-past-cea-chairs/) + +* [NYTimes roundup of economists against Gerald Friedman's analysis](http://www.nytimes.com/2016/02/16/us/politics/left-leaning-economists-question-cost-of-bernie-sanderss-plans.html) + +--- + +# The high-growth debate, against: + +* Krugman: Follow-on to CEA letter [Worried wonks](http://krugman.blogs.nytimes.com/2016/02/17/worried-wonks/); [What has the wonks worried](http://krugman.blogs.nytimes.com/2016/02/17/what-has-the-wonks-worried/); [Wonkery has a well known liberal bias](http://krugman.blogs.nytimes.com/2016/02/18/wonkery-has-a-well-known-liberal-bias/); [Plausibility chart](http://krugman.blogs.nytimes.com/2016/02/19/plausibility/) + +* Delong: [We Need to Hold the Line on Analytical Standards Here: Bernie Sanders Blogging](http://www.bradford-delong.com/2016/02/we-need-to-hold-the-line-on-analytical-standards-here-bernie-sanders-blogging.html) + +* Bernstein: [I endorse...](http://jaredbernsteinblog.com/i-endorse/) + +* Thorpe: [Alternate analysis to Gerald Friedman](http://www.scribd.com/doc/296831690/Kenneth-Thorpe-s-analysis-of-Bernie-Sanders-s-single-payer-proposal#scribd) + +* FEE: [why Bernie must raise middle class taxes] (http://fee.org/articles/why-bernie-sanders-has-to-raise-taxes-on-the-middle-class/) + +## Roundups: + +* [NPR Roundup](http://www.npr.org/2016/02/17/467087858/top-wonks-take-aim-at-sanders-economic-plans) +* [WSJ against](http://www.wsj.com/articles/democratic-economists-say-bernie-sanders-math-doesnt-add-up-1455726507?mod=e2fb) +* [Mother Jones against](http://www.motherjones.com/kevin-drum/2016/02/sanders-campaign-has-crossed-neverland) + +--- + +# The high-growth debate, in favor: + +* Mason: [Can Sanders do it?](http://jwmason.org/slackwire/can-sanders-do-it/); [Plausibility chart](http://jwmason.org/slackwire/plausibility/) + +* Konzcal: [In Praise of the Wonk: Dissecting the CEA Letter and Sanders’s Other Proposals](http://rooseveltinstitute.org/praise-wonk-and-wonk-analysis-cea-and-sanderss-proposal/) + +* Kocherlakota: [Faster Growth IS Possible - And It May Well Be Desirable](https://sites.google.com/site/kocherlakota009/home/policy/thoughts-on-policy/2-18-16); [How Cheap Labor and Capital Suggest that Faster Growth is a Great Deal](https://sites.google.com/site/kocherlakota009/home/policy/thoughts-on-policy/2-19-16); [Growth Begets Growth: Reflections on Total Factor Productivity](https://sites.google.com/site/kocherlakota009/home/policy/thoughts-on-policy/2-21-16); [Thoughts on a Pro-Growth Policy Mix +](https://sites.google.com/site/kocherlakota009/home/policy/thoughts-on-policy/2-23-16) + + + +* Klein: [“Extreme” doesn’t mean what it used to, Sanders vs the CEA](http://ftalphaville.ft.com/2016/02/17/2153540/extreme-doesnt-mean-what-it-used-to-sanders-vs-the-cea/) + +* Galbraith: [Open letter response to CEA](http://big.assets.huffingtonpost.com/ResponsetoCEA.pdf) + +* Gerald Friedman [responds to Krugman](http://www.nakedcapitalism.com/wp-content/uploads/2016/02/Response-to-Krugman.pdf) + +* CEPR: [NYT Invents Left-Leaning Economists to Attack Bernie Sanders](http://cepr.net/blogs/beat-the-press/nyt-invents-left-leaning-economists-to-attack-bernie-sanders) + +* Himmelstein and Woolhandler: [Against Thorpe's analysis](http://www.huffingtonpost.com/david-himmelstein/kenneth-thorpe-bernie-sanders-single-payer_b_9113192.html) + +* Mark Thoma: [Here’s Why Bernie Sanders’ 5% Growth Plan Isn’t Crazy After All](http://www.thefiscaltimes.com/Columns/2016/02/23/Here-s-Why-Bernie-Sanders-5-Growth-Plan-Isn-t-Crazy-After-All) + +## Roundups + +* [FAIR on the "unicorn hunt"](http://fair.org/home/nyt-rounds-up-left-leaning-economists-for-a-unicorn-hunt/) +* [The Week on the response to Bernie's plan](http://theweek.com/articles/606698/why-are-bigshot-liberal-economists-hippiepunching-bernie-sanders) +* [IBTimes on the response to Bernie's plan](http://www.ibtimes.com/political-capital/bernie-sanders-economic-plans-questioned-critics-ties-wall-street-hillary-clinton) +* [New Republic against the criticisms](https://newrepublic.com/article/130157/pious-attacks-bernie-sanderss-fuzzy-economics) +* [Dollars and Sense roundup](http://dollarsandsense.org/blog/2016/02/links-on-the-kerfuffle-about-friedmans-sanders-analysis.html) +* [Mother Jones in support of Gerald Friedman's Analysis](http://www.motherjones.com/kevin-drum/2016/02/second-thought-maybe-bernie-sanders-growth-claims-arent-crazy-i-thought) + +--- + +If you have anything you'd like added, feel free to post in comments or [PM me](https://www.reddit.com/message/compose?to=jambarama) and I'll get it up in the body here. +I'm used to some contractors looking you over and deciding to overcharge. A project last year we got three quotes for using the same materials and everything was double the next highest on one bid. You could see the disappointment in the guys face when we looked at it and told him we were getting multiple bids, he knew he'd screwed up and we never got a call asking if they'd gotten the job. + +We've had horrible luck with landscape contractors. One showed up while we were out, dug out some shrubs that were not even in the area they were supposed to work on and left. When we called and asked what the hell happened they gave us the run around and we eventually found someone else. They tried billing us for the job they never did the following year and I had to deal with that. + +The latest one was a bed cleanup and mulching job, contract was about 3k more than I expected but I accepted it as they could do it quickly where the other companies were booked until the fall. They came, did an acceptable job but I don't think we got all the mulch we were billed for. My wife was annoyed at the crew just hanging out on their phones when the owner was not on site but it was a fixed price quote so I wasn't counting hours. When the bill came they'd added another 50% with no explanation. I just ignored it, a few days later they took several thousand off and sent a new bill and left me a message asking to talk about it. I pointed out their own contract terms say they have to give notice of changes in cost and they have to be accepted in writing. I'm now getting guilt about them being a small business person, they used more people than they quoted, etc. + +This is the third time I've gotten the same kind of overbilling from different companies and I'm just angry about it. It's feeling like they size me up, decide I'm a friendly outgoing guy with a little money and decide to play the haggle game. In the past I've just coughed up a few thousand to not have to deal with it and I feel like they all just rely on that. + +Can we afford to just pay it? Yes, but it's become the principle of the thing. I'm wondering if they are doing the same thing to people who can't or won't fight it and call in an attorney or make fraud claims. I feel like giving in just emboldens them. + +Curious as to how some of the people here deal with it. Do you just accept it as part of the price of success or do you hold firm and fight this kind of thing? +Buffett said at the Berkshire Hathaway annual shareholders meeting that it's not a productive asset and it doesn't produce anything tangible. Even with the shift in public perception around bitcoin, he still says he will not invest. + +Do you agree with him? I’d like to see opinions from both sides. +A co-founder of a successfull tech company. Sold quarter of my ownership to investors in a secondary transaction and quit my employment, still most of my wealth tied to that company. Net worth currently at 7M. Decided I had spent enough time working there. If everything goes well my NW will be around 20M-50M in a few years if the company IPOs successfully. + +I'm happy to start my fatFIRE career with a pile of cash of around 5M, but for some reason I still think everybody else is happier and making more. + +How much do you need to feel wealthy and why? +r/PersonalFinance has locked this post because it has turned into a legal issue. I copied the post and added more information to r/LegalAdvice. Please follow the post there if you want updates. Thank you all for your help and advice. The initial responses here were extremely helpful and I greatly appreciate it. + +https://www.reddit.com/r/legaladvice/comments/rl61cx/xpost_carmax_called_me_tonight_asking_i_return/ + +Original Post: + +I sold my car to CarMax today and the process went smoothly. It took a couple hours, but overall I was impressed. It's a car I bought new in 2018 and due to covid has low miles. They appraised it on-site for an hour and have me the price they quoted through their website. I was chuffed. + +Leaving the dealership I get this text message from an unknown number: + +> CarMax maintains the right to determine which customers it will conduct business with and, based on information in our systems, CarMax has elected to not do business with you. I don't know the exact reason, but it could be related to a prior interaction with CarMax or information you have provided. This decision is final and is applicable at all CarMax locations. + +I thought it was spam so I didn't respond, but I called carmax to tell them about this, thinking someone was using their info to scam people. The customer relations person was confused and said it was weird and gave me the corporate number and asked that I report it to them so they're aware. + +I gave up after sitting on hold, thinking I'd call back tomorrow. + +That's when the store called me directly and the manager asked that I bring back the bank draft immediately and they would give me the car. They said that corporate demanded it and they had zero information as to why. I was extremely skeptical and asked for common reasons why this could happen and he gave me nothing. He seemed nervous and asked me to call back tonight with a time I could come back or he would follow up tomorrow. + +I read the *signed* contract and the breach clause states they can demand to cancel a transaction if I misrepresented something at some point, which I haven't. + +I have nearly perfect credit, the loan is current, the car is in excellent condition (and they appraised it themselves) and we have a signed contract. My wife is on the loan and she signed everything right next to me. We didn't lie whatsoever. + +I called CarMax corporate and the nice customer service lady couldn't reach anyone at corporate (it's 6pm) so she's going to call the location GM and call me back by 7. + +I called the loan holder and they saw the loan payoff request from CarMax at 1:49pm today and confirmed the payoff amount the CarMax told me. + +I've also called my aunt, a lawyer, and told her the situation and I'll see what she says. + +But right now, I'm not doing squat. Unless they tell me how I was in breach of contract, I'm considering it valid. My only worry is that they won't pay off the loan (I already deposited the bank draft). + +All I can assume is that they didn't like the deal after the fact. They have an identical car (all options, color and mileage) listed on their lot for only $998 more than they paid to us, implying they're oy making $998 on the car they just bought from me. + +Either that or it's a case of mistaken identity? + +But seriously, has anyone ever heard of this before? What options do I have??? + +Thanks, PF. Let me know of there's a better sub for this question, but you guys are so helpful I thought of here first. :) + +Edit: corporate customer service just called back and told me that the information provide (i. e., none) was accurate and they want to unwind the deal, citing that they have the right to choose who they do business with. + +I told them that until they can show me how I breached the contract, I'm going to consider it valid and not do anything. She said she'll let legal know. + +No idea wtf their problem is. It's not like a car company has never lost money before. I can't imagine there's any other reason for this B. S. + +Final edit in r/PF: + +r/PersonalFinance has locked this post because it has turned into a legal issue. I copied the post and added more information to r/LegalAdvice. Please follow the post there if you want updates. Thank you all for your help and advice. The initial responses here were extremely helpful and I greatly appreciate it. + +https://www.reddit.com/r/legaladvice/comments/rl61cx/xpost_carmax_called_me_tonight_asking_i_return/ +So you diamond handed for 8 whole months. Picked up plenty of more shares, maybe even saw some gains along the way (or losses no judging). You didn’t sell you beautiful ape. You’ve seen the FUD, the theories, the DD… you’ve seen it all and survived it. The MOASS is finally here. The hard part is over right? + +Wrong. + +That was the easy part. The hard part is when things start actually moving into action. When the ticker slowly moves from 1,000 to 10,000 to 100,000 to 1,000,000 and so on. It may even drop at certain points. + +You will start to feel the temptation. *maybe I should sell at 37,000, I could buy a new house and pay off my parent’s loans* + +You will start to feel the anxiety. *what if this is the top. I don’t want to lose all my money. I can’t trust every ape out there after all. What if others sell first?* + +You might even feel fear. It may be the scariest moment of your life. + +This is the hard part. It’s gonna be harder than a freshman at cheerleader practice. You will be blamed for what is happening to the economy. You will be scared. + +But you need to hold. Hold for your family. Your friends. Hold for your fellow apes. Hold for what those fuckers did in 2008. + +I’m holding and I’m holding hard. Don’t forget the DD. They need your shares, and you name the price. Don’t cheapen yourself for selling less than what it’s worth. + +Harden your resolve, apes. The MOASS is coming soon, and when it comes, be prepared. Here comes the hard part. + +HODL. 🦍 +I can't imagine being one of the traders with weekly expiring calls that rightfully had a winning lottery ticket that some geriatric fucks on Wall Street, in the Federal Reserve, and in the federal government took away because it would be inconvenient to them +I strayed from my usual habit of only buying Cushelle toilet roll and instead bought a pack of Andrex as they were on offer in Morrisons. It's only when I've got home that I realise I'd been had. + +The Andrex toilet roll tube has a diameter of a whopping 46mm, with the overall roll having a diameter of 100mm. I paid £9.99 for a 24 pack, which works out as 41.63p per roll. + +By comparison, the Cushelle toilet roll tube has a much smaller diameter of 38mm despite the overall roll being wider at 110mm. They didn't have the 24 pack when I went to Morrisons, but Asda currently have it at 40.63p per roll. + +Dont make the mistake I did of solely going by the cost per roll. You need to either get your tape measure out or start counting the number of sheets per roll or they'll literally catch you with your trousers down. If you use other brands of toilet roll and have access to a measuring device I'd be interested to see how they compare. +Hello new poster here, need some minds/ideas please. I took on an automatic Nissan juke on finance in 2020 @ £160 a month all great! 1 year in needed new break pads for £600, frustrating but sorted that fine. Now 2.5 years in, engine check light comes on I’m told CVT is the issue likely need a new gearbox at a cost of no less than £3k looking at up to £7k. I was offered to pay for this on monthly instalments, mind you the car is now only worth about 7k. Couldn’t think of a worse idea tbh. I’ve also been offered to trade it in but my options are limited, only car even close to my price range is too high @ £280 a month for a second hand car, same age as my current one (2017) which I don’t feel comfortable with knowing the issues I’ve already had with the current one. I’ve been told if I add some money towards deposit I can get a better deal, but I’m not in a position to do that currently. So I’m now stuck with a car I’m paying £160 a month for but not getting any use out of. Does anyone know what options are potentially available to me? Would car finance company (Nissan finance) take it back? Could I claim a new gearbox from insurance and then give the car back? I’m now at a place where I’d happily give the car back because honestly it’s too much headache and I no longer have any desire to deal with it. Not sure if this useful information but yes I have gap insurance, I’ve been asked this a few times. Any suggestions are welcome. Thank you in advance ❣️ +Yesterday while I was hiking one of my favorite spots in St. Croix of the USVI, I came across [this plant](https://imgur.com/wbSPZoE) near the top of Goat Hill. + +This is an endangered and endemic plant to the island, with only a small population left in the East End preservation area and small patches along the Southshore. + +My tits are just as jacked as the rest of you but this is unaccpetable. + +Even for a bunch of crayon eaters, we are better than this. + +This is not the way. + +When I see whichever one of you did this on Mars, I expect an apology. + +BUY HODL + +That's all you do. Do not deface endangered plants in conservation areas. + +That is all, I'll see all of you in space. +So, this week, we saw the start of the total collapse of the modern financial system and the end of the Bretton Woods era of international monetary policy. + +Bold claim, yeah baby? You're probably thinking this has to do with the war in Ukraine or something, right? Well, it does a little bit, but mostly it has to do with what happened with RSX and LME this week, and a little bit with what happened with Rivian. + +**TLDR: Wall Street, China, and Russia are all broke and shit is going to get real over the next few months. Or, to put it another way, some dude named Noah moved next door and started building a boat in his backyard, and you're just beginning to feel some raindrops.** + +Let's start with the biggest shitshow out there, the London Metals Exchange, or LME. A fair number of people are comparing what happened with LME and Nickel to what happened when Apex Clearing turned off the buy button for the meme stocks back in January of 2021. And yes, I meant Apex Clearinghouse, not Robinhood you twits, Apex made RH do it, and a dozen other brokers as well. Vlad was just a fall guy, and not the cool kind that was on TV back in the '80s. + +What the LME did can be split into two parts: + +1. they had a massive short squeeze that was fucking up prices, amplified by uncertainty from the war in Ukraine, so they completely halted trading. This is entirely normal. It's happened dozens of times in the 144 years they've been open. Complete trading halts occur in all exchanges whenever shit starts getting fucked up. For example, US markets were shut down for a week after 9/11. +2. they fucking canceled 12 hours worth of completed trades. This is the part that should get your knickers in a twist if you were actually wearing any. + +Now, I know a lot of you are sitting there feeling smart thinking "I know why they did it! They're criminals and stealing!" Well, you're right, but that's NOT why they canceled 12 hours of completed trades, just like Apex didn't turn off the meme buy button because they woke up and decided they really needed to use their broker apps to get their fuck on with retail in a big 'ol gang bang. + +No, they did this for one reason and one reason only: survival. They were dead. LME let the Nickel market get so fucked up that they not only had to stop transactions, or unwind a couple at the end, they had to unwind 12 fucking hours worth of trading. I mean, these people are so goddamned incompetent that they didn't even realize they'd been shot in the head, skinned, and turned into a fucking rug for two whole shifts at Wendy's! + +Understand, they just set 144 years of skimming trades on fire. It's not little guys buying FDs on the LME, it's big boys and industrial giants. They all have lawyers and elected officials on retainer, and all of those clients are as done and gone as your made up Canadian girlfriend from grade school. + +I can't decide if the best part of all this is the cover story they put out, or how many dumbfucks didn't take three seconds to realize its bullshit. The idea that Xiang Guangda just said "I don't want to pay the margin call" and then the LME was like, "ok, well, I guess that sucks to be us, guess we'll just pour all this gasoline on ourselves and play with matches" is so laughable I just got a hernia from ROFLing so hard. Look, because I know you 'tards are all stuck on the shortbus trying to figure out what I'm talking about, I'll just drive ya'll on over to the explanation: + +Tsingshan (the company Xiang owns that has the short position) isn't some kind of nickel producer like the papers are saying. They make steel. They're the second largest (largest by revenue) steel making company in China. You know what that steel is used for? Construction. Know who hasn't had enough money to make a bond payment in over six months now? Every goddamned construction company and developer in China. What, you think they're paying their fucking materials bills? + +Here's a quote from the South China Morning Post attributed to Xiang: + +*“Foreigners have some activities going on \[against Tsingshan’s position,\] we are actively coordinating \[to tackle the problem\],” China Business News cited Xiang as saying in a report late on Tuesday. “We have received a lot of phone calls today – related government departments and leaders are very supportive to us. Tsingshan’s position, operation and management has no problems.”* + +Again, because I know you can't read, here's a translation of that quote into a picture. + +&#x200B; + +https://preview.redd.it/vuz2yzdu31n81.jpg?width=1366&format=pjpg&auto=webp&s=ae73a99e54aecf81b48364dea440c451de038d17 + +I specifically said there are no problems, so it's all okay! + +Now, why is it such a huge problem that Xiang has no money? Well, if he can't make the margin call, the short position, much like a politician or anyone who's daddy donated a library to get them into Harvard, fails upwards. First it goes up to Xiang's bank, which is also fucking broke. Then it moves onto the LME itself, which again, doesn't have the fucking money. So what does the LME do? Same thing the mobsters in Goodfellas did when the restaurant was too broke to steal from anymore, they set everything on fire. The reason the LME hasn't opened back up yet is because the short position is still there, and nobody who's responsible for that position has the money to cover it. + +Now, you might think, if you were smart instead of so dumb you went to Bangkok to get a TIE Fighter, why does this Xiang guy have such a large naked short position he can't cover? The answer is simplicity itself - he's broke, so he naked shorted his own shit to get paid, then got fucked when it went sideways. I mean, people here on reddit like to call themselves reckless degenerates, but lemme give you a full "trust me bro" on this one, ya'll ain't got shit on the stupid rich fucks that run the world. + +That's part one. What about part 2, RSX? Well, as many people who lost money Friday can attest, some serious, serious fucking of Put options occurred. Van Eck started to liquidate the RSX fund, but they didn't *say* they were liquidating it, so options couldn't settle as cash value. But they ALSO halted trading of the ETF, so options couldn't be traded either. And as a final piece of fuck you brokers weren't letting people borrow shares to even fucking exercise the put option themselves. Wild yeah? (someone else wrote a very good DD on this exact thing this morning, I highly recommend you go read it - no link because automod hates me every time I put a link in my posts) + +This is example number two of someone burning down the restaurant because they couldn't steal from it anymore. Whatever MM sold those options didn't have enough to cover them, so this shit with Van Eck not stating the fund was liquidating happened. + +That's strike two for all the market makers and exchanges being fucking broker than you when you've gotta go behind the Taco Bell because Wendy's is too high class for your ass. Let's see if we can a third K to finish them off. + +I give you Rivian, ticker RIVN, a truly shitty EV manufacturer, that like most of them can't actually make cars. These guys are such a clown show that they tried to raise the prices on the pre-orders from the people who waited years to get one. So they had earnings on 3/10, and it was just about as big of a disaster as you'd expect. Then, after hours, they dropped $6 bucks on nearly a million in volume. Everyone who bought puts printed, right? Nope. The next day in pre-market, on less than a third of that volume, the price magically shot back up $5.5 bucks, completely wiping out everyone's puts. By EOD the price had only dropped a total of $3 bucks from Thursday's close, and wouldn't you know it, the price of an ATM put option bought EOD on 3/10 was more than $3. I'd recommend taking a look at the volume numbers and corresponding price movement of RIVN throughout the day on 3/11 and drawing your own conclusions. + +This is like the, what, hundredth and a half time we've seen this exact thing play out now? It's not an accident. More money is traded every day in the market on options than stocks themselves. When the PFOF brokers that retail uses publicly refer to the MMs as "our clients", you know the fix is in. What makes the RIVN bit so interesting is a) how obvious it is, and b) that they're doing this while under DOJ investigation for this exact fucking thing. That tells me two things, 1) they don't think they'll actually be prosecuted - which, fair, they've got a whole lot of history on their side for this one, and 2) they don't have a choice 'cause they're running out of money. + +And why, you may ask are they out of money? Well, it's a mix of things. 1) all the attention from Reddit and the media and law enforcement has clients pulling money from Hedge Funds, leading to sell offs, which when you're leveraged at 137x, leads to a rapid collapse in your buying power. 2) Russian assets aren't just in freefall anymore, they've hit the ground and started drilling for oil. 3) remember where I was talking about China earlier? Yeah, their shit is worth even less than the Russian stuff, but thanks to Xi's brilliant leadership plan, people haven't realized that yet. Below, I have obtained exclusive photo evidence from some of my old SF buddies of Xi and his top councilor enacting their plan to save China's economy. + +&#x200B; + +https://preview.redd.it/di6pv7rv31n81.jpg?width=444&format=pjpg&auto=webp&s=a47798803b9b0d90c0e1ee5d1ac98b00f9dc9aa1 + +If we can't see the lines go down, then are they really dropping? + +As always, the official info coming out of China is a mix of fantasy, lies, and flat out ignorance, spiced up by a heaping helping of corrupt incompetence. Because Xi is a tinpot wannabe dictator with delusions of Imperial grandeur, he wanted to make sure that while he was hosting the Olympics everything went off without a hitch, so he told all the companies and rich people in China to make like autists and buy the fucking dip in the equities and bond markets. + +Because all those folks didn't want to get executed by anti-aircraft guns while their families went to the organ donor farms, they did. Which in this case, means throwing good money after very very very bad money. It's honestly difficult to describe just how badly China has sabotaged itself. I'm sure you all know by now about the ghost cities made up of structurally unsound buildings with no interiors, and in some cases no exterior walls. But, do you also know about all the railways to nowhere that aren't being serviced or maintained? Do you also know how many MORE shitty tofu-dreg buildings have been paid for by citizens' life savings that aren't yet built? Spoiler, it's a lot. + +Meanwhile, the property market in China is in free fall. Here's a chart of official chinese statistics on the price of housing. + +&#x200B; + +https://preview.redd.it/es47b4lw31n81.png?width=730&format=png&auto=webp&s=cbec2acc7cb3bd30d8620838dc53f0dbbe95d15f + +Taken directly from the National Bureau of Statistics of China + +Now, these prices all reflect worthless tofu-dreg empty apartments that exist only to sell to the next sucker/investor. Notice that trend line? Anyone know what happens when that price increase gets closer to zero? As our friend Lelu from the 5th Element would say "Big bada boom!". For another reference, look at the Dutch tulip market after it popped. Remember, these are the official Chinese govt numbers. I'm guessing the actual numbers have gone negative already. + +Western banks, particularly up in Canada, are extremely exposed to the bonds these empty shell apartments are backing. Western banks, again particularly up in Canada, are also heavily exposed to the commercial and residential real estate markets. Both of which are in massive fucking bubbles funded in large part by money from Wall Street, Russia, and China. Guess which of those are now broke (hint: it's all three of them). CMBS notes started going bad this month - there's a reason all the politicians all of a sudden decided we needed to be back in the office, and the mortgage missed payment rate is skyrocketing faster than the price of oil. I have not yet been able to figure out if the spike in missed mortgage payments is banks/wall street failing to pay on all the properties they've accumulated, if it's all the missing repossessions from the pandemic finally showing up, or if it's a leading indicator of a new crisis. + +I don't know how much longer the powers-that-be can keep these balls in the air, but it's not much longer. Assuming Russia follows their playbook from the disaster they had in Grozny in '94/'95, we're about to see the major cities in Ukraine get leveled by heavy artillery and rocket attacks. Which means you can pretty much kiss the Ukrainian wheat harvest goodbye, because all the infrastructure needed to support it will be rubble, along with the roads and bridges you'd need to get it out of the country. Couple that with what looks to be bad wheat harvests in the US and China barring some big weather pattern shifts, and we're going to see some massive price spikes in the price of bread and other food this summer. Expensive food = political instability and riots. + +The US will see a fresh round of "race riots" sparked by random online videos that are really about inflation and economic inequality, but the media and politicians will go full hog on the race angle, and people will buy it - if you need proof the general population is that gullible, look at how many think the Ukraine war is responsible for inflation and gas prices. South Africa and Turkey, plus an unknown number of Middle Eastern countries will see Syrian civil war/Arab Spring type uprisings - remember, the Tunisian revolt started as a protest about the price of bread. + +Finally, since this is already way, way, way too long for any of you to actually read through, much less comprehend, I'll cut the part about Bretton Woods and the dollar as the international currency super short - there used to be one global financial system that was set up after WWII in a conference at Bretton Woods, hence the name. By kicking Russia out of it, we forced the creation of a competing global economic system. Which will likely be headed by China. That pretty much guarantees another world war down the road, but hopefully not for a decade or two if we're really lucky. + +If I had the money to do so, I'd also buy farmland with wind turbines and/or solar on it. Real assets are about to be king, especially food and energy, which are the definition of real assets with inelastic demand. Oh, and I also just bought a Lincoln, because in addition to chips, the automakers are about to be short on metals too, and somehow a car counts as a fucking growth investment these days. + +I'll be honest, the vast majority of my portfolio - over 90%, is in direct registered shares of GME, with a couple shares of popcorn because fuck 'em, that's why. I think at least a couple of brokers are going to detonate like we're seeing with the LME and fuckery like what happened with RSX will become more regular. Whenever I have a big gain in my other positions, I pull most of it out and buy more GME shares and then DRS them. + +That IS financial advice by the way, but you probably shouldn't follow it. + +CS 10XXXX +I’ve wanted to get into trading and investment for a while, I was wondering if anyone could give some pointers and tips on how to start earning effectively and how to start turning profits with minimal funds( for example like a fiver or a tenner to start off with) because I feel like it’s vital that youngsters and new people on the financial trade aren’t left with a sour taste in their mouth when it turns out to be not as easy as some movies and influencors make it out to be +There's been a lot of hate on memes lately, maybe it's because the price has dropped and people are looking for something to vent at. I've personally really enjoyed the aspect of random memes thrown in with serious discussion. + +This is reddit, not the business section of your favourite broadsheet newspaper. That's not to say there shouldn't be serious talk about ETH, but at the same time let people post memes and lighten the mood in this place. + +An easier way to bet against finance personality Jim Cramer is in the works. + +Tuttle Capital Management — which previously launched an exchange-traded fund betting against Cathie Wood’s stock picks — **plans to debut the Inverse Cramer ETF with the ticker SJIM**, according to a [filing](https://www.sec.gov/Archives/edgar/data/1644419/000158064222005066/tuttleetfs485a.htm) + +with the Securities and Exchange Commission on Wednesday. If approved, the fund would provide investment results that are approximately the opposite of Cramer’s investment recommendations.  + +The host of *Mad Money* on CNBC is an outspoken and polarizing figure in the finance world, known for his ardent endorsements of various stocks, with mixed results. In 2021, he praised Ark Investment Management’s Wood just before her flagship fund plummeted, and he also famously tweeted to buy AMC Entertainment Holdings Inc. just prior to a 30% plunge. + +“Jim’s mission has always been to encourage long-term investing and a balanced portfolio that includes index funds and individual stocks,” a CNBC spokesperson wrote in an email to Bloomberg News. “He regards *Mad Money* as his classroom and believes educating those who want to pick individual stocks through insight and experience is the best way to help them take control of their finances.” + +The Inverse Cramer ETF would be actively managed, meaning financial professionals behind the scenes would monitor Cramer’s stock selections and overall market recommendations through Twitter or his television appearances, according to the filing. Fund managers would then sell those stocks short or use derivatives to produce a negative correlation to his recommendations. + +If Cramer said he was negative on a stock or ETF, the fund managers would take a long position.  + +Tuttle’s anti-Wood ETF, known by the ticker SARK, is up almost 90% since its launch in November 2021 and has attracted more than $350 million in assets. Tuttle was acquired by AXS Investments earlier this year. + +And for those who do have faith in Cramer, Tuttle is also planning a **Long Cramer ETF, or LJIM, to bet on investments that Cramer endorses.** The filings did not disclose the fees for the two funds, but SARK charges an expense ratio of 0.75%.  + +Source: [https://www.bloomberg.com/news/articles/2022-10-06/anti-jim-cramer-etf-will-bet-against-stocks-endorsed-by-cnbc-mad-money-host](https://www.bloomberg.com/news/articles/2022-10-06/anti-jim-cramer-etf-will-bet-against-stocks-endorsed-by-cnbc-mad-money-host?utm_content=billionaires&cmpid%3D=socialflow-twitter-billionaires&utm_campaign=socialflow-organic&utm_medium=social&utm_source=twitter) +SCHB (Total US Market ETF) - 60% + +VXUS (Total International ETF) - 20% + +AVUV (Small Cap Value ETF) - 10% + +QQQM - (NASDAQ 100 ETF) - 10% + + + + +I’m 21. Plan to buy and hold these funds over the long term. Would you change anything about this portfolio? +Just something I noticed within my friend group. Within my friend group of about 10 people mid to late 20s, 7 are more into investing now than before, including me. Maybe it has something to do with the pandemic and looking for alternate ways to make more money but in any case, it's an interesting observation that I noticed. Just wondering if anyone has the same observation within their own friend group. +**I. Bold headline to grab your attention** + +Some generic garbage about well known investment theories over multiple decades. How are they relevant to a 2 week hail mary prediction? They're not, but it gives the illusion I know what I'm talking about. + +Here is a [bearish article](https://www.marketwatch.com/story/stock-market-hasnt-seen-absolute-bottom-yet-says-mark-mobius-2020-04-14?mod=mw_quote_news) that I'm sure no one will take the time to read, but due to confirmation bias, put holders will automatically agree with. + +**II. Technical analysis** + +Generic fortune telling garbage such as "support" and "resistance" that makes believing in astrology look reasonable by comparison. (Number above where we are) is resistance. (Number below where we are) is support. Doesn't matter if we collapse through support like it's nothing or break through resistance like it's nothing, there is nothing that will prove the generic statements about support and resistance wrong. + +Also I drew some fancy lines that shows this is indeed a bull trap. + +**III. Some other useless garbage about other markets*** + +Mention commodities, including precious metals, perhaps treasuries to make oneself seem knowledgeable. More thoughts on what COULD happen versus what will really happen. + +**TLDR: this is a hail mary prediction that will gain me a cult following if I'm right and I'll just try again on a new account if I'm wrong. God I love reddit and this sub.** + +Edit: The rally from below 2200 to present levels was perfectly predictable, if you looked at fundamentals and technicals. No fucking way I'll say anything of the sort **BEFORE** the fact but I'm pretending to be a timeless sage in hindsight. + +These are interesting levels that I'm keeping an eye on: 2500, 2700, 2950. What does it mean and what tradeable insight are to be gained from these numbers? lol fuck if I know. Also there is a possibility of a rally to 2880 but I'm looking for an initial fall to 2760 this week perhaps maybe. +While I was on my way to FIRE, it was rapidly accelerated when I had a windfall inheritance. With two young children I was forced to evaluate my priorities. Being 38/M/married with $3.2M, +I wanted to make sure that we, meaning the entire family, were happy. + +Because the ability to pick-up and travel would be difficult with the kids for now, I decided to focus on FI. + +I still work, and I’ve honestly gotten better at my job. Because of the lack of fear of getting fired I can swing for the fences. I sell enterprise software and have decided to no longer climb the ladder. I’m making about $150K-$200K depending on the year, but live a lifestyle that I love. I go to the gym and come in late. I’ll take a few long lunches, and typically leave by 4 PM on most days. I still hit all my quotas, but I’m not kissing ass or showing off. I’ve actually started mentoring my coworkers recently when I find they are struggling. + +I leave my laptop at work most nights and don’t answer emails from home. I will check my schedule on Sunday nights to help plan the week. + +My wife and I take a few vacations a year, all paid by salary/bonuses as not to affect my principle in the market. + +I have about 15 years before I really RE, but this lifestyle means I get to enjoy my life until then as opposed to hating life. + +FIRE has many incarnations and it seems like this sub can get hung up on what it means sometimes. +So in my hypothetical world you all have $1,000,000 to invest before the closing bell today, and everything you buy has to pay a dividend. You're not allowed to have a job ever again, not even mowing yards or selling lemonade, and you own no other assets besides clothes. Normal rules regarding taxation etc. still apply. + +So question 1 is what do you buy? Question 2 is what does your life/home/city situation look like based on your total yield? +I've read a ton here recently about how much everyone loves QYLD. Here's what I see: + +Performance - 3 month - 2.60% + +Performance - 3 yrs - 9.87% + +EDIT: I left out the yield which is a crazy 11.5% - I've only see this height in REITS. + +ER .60% -- seems high for a dividend etf, but maybe not? EDIT: this high now doesn't seem so high if this etf is getting a lot of management. + +Here's what factset on [etf.com](https://etf.com) says: QYLD seeks yield from the Nasdaq-100 via options premium. Historically, investors came to the Nasdaq for growth, not yield. While that dynamic may be shifting as tech giants mature and begin paying dividends, the fact remains that pure-play S&P 500 funds offer more yield than the 'plain vanilla' Nasdaq-100 fund QQQ. Enter QYLD, which matches QQQ's Nasdaq-100 exposure, but earns income by selling call options and passes it on to investors net of fees. Covered call ETFs are hardly new, but QYLD was the first to apply it to the Nasdaq-100. Expect a generally less volatile return pattern from QYLD relative to QQQ. Use great care trading and monitor the asset levels. Also note that the fund's prospectus allows a bit of leverage. The fund rebranded and changed its name from Recon Capital NASDAQ 100 Covered Call ETF to Horizons Nasdaq-100 Covered Call ETF on Feb 28, 2017. + +I'm particularly interested in this line: "Use great care trading and monitor the asset levels". Does this mean this ETF is NOT a set it and forget it type? What does "monitor the asset levels" mean? + +Anyone help here? +**Introduction:** +&nbsp; + +Greetings, fellow ethtraders! Happy New Year! In the next few months, taxpayers across the US will be filing their 2017 tax returns. As an [Enrolled Agent](https://www.irs.gov/tax-professionals/enrolled-agents/enrolled-agent-information) and a ETH/cryptocurrency investor and enthusiast, I wanted to write up a brief guide on how your investments in ETH and other cryptocurrencies are taxed in the US. + +&nbsp; + +--- + +&nbsp; + +**1. Are ETH/cryptocurrency realized gains taxable?** + +Yes. [The IRS treats virtual currency (such as cryptocurrency) as property.](https://www.irs.gov/pub/irs-drop/n-14-21.pdf) That means if you sell ETH, BTC, or any other cryptocurrency that has appreciated in value, you have realized a capital gain and must pay taxes on this income. If you held the position for one year or less, it is a short-term capital gain which is taxed at your ordinary income tax rate. If you held the position for more than one year, it is a long-term capital gain which is taxed at your long-term capital gains tax rate. In most cases, this is 15%, but could also be 0% or 20% depending on your specific ordinary income tax bracket. + +&nbsp; + +**2. If I sell my ETH for USD on Coinbase but do not transfer the USD from Coinbase to my bank account, am I still taxed?** + +Yes. The only thing that matters is that you sold the ETH, which creates a taxable transaction. Whether you transfer the USD to your bank account or not does not matter. + +&nbsp; + +**3. If I use my ETH to buy OMG or another cryptocurrency, is this a taxable transaction?** + +Most likely yes. See #4 below for a more detailed explanation. If assuming crypto to crypto trades are not able to be like-kind exchanged, then continue on to the next paragraph here. + +This is actually two different transactions. The first transaction is selling your ETH for USD. The second transaction is buying the OMG with your USD. You must manually calculate these amounts. For example, I buy 1 ETH for $600 on Coinbase. Later on, the price of 1 ETH rises to $700. I transfer that 1 ETH to Bittrex and use it to buy 37 OMG. I have to report a capital gain of $100 because of this transaction. My total cost basis for the 37 OMG I purchased is $700. + +&nbsp; + +**4. If I use my ETH to buy OMG or other cryptocurrency, could that be considered a tax-free like-kind exchange?** + +Probably not. The new tax law says that like-kind exchanges only pertain to real estate transactions. [This was done with Section 13303, which replaced “property” with “real property” for all of Section 1031](https://www.congress.gov/115/crpt/hrpt466/CRPT-115hrpt466.pdf) (page 72 near the bottom). My personal interpretation: + +In 2018 and going forward, cryptocurrencies can definitely not be like-kind exchanged. + +In 2017 and before, it is a very gray area. I personally am not taking the position that they can be like-kind exchanged, because if the IRS went after a taxpayer who did this, the IRS would probably win and the taxpayer would owe taxes, interest, and probably penalties on every single little gain made from trading one cryptocurrency for another. + +[Here is a great interpretation of why trading cryptocurrency for cryptocurrency is probably not a like-kind transaction.](http://www.taxabletalk.com/2017/09/05/can-you-use-a-§1031-exchange-to-defer-gain-with-cryptocurrency/) + +In my opinion, the biggest factor is that like-kind exchanges must be reported on [Form 8824](https://www.irs.gov/pub/irs-pdf/f8824.pdf) and not just ignored. Therefore, if a taxpayer is claiming like-kind exchanges on crypto to crypto exchanges, he or she would have to fill out a Form 8824 for each individual transaction of crypto to crypto, which would be absolutely cumbersome if there are hundreds or thousands of such trades. + +[Here is another article about like-kind exchanges.](https://www.forbes.com/sites/greatspeculations/2017/08/15/cryptocurrency-traders-risk-irs-trouble-with-like-kind-exchanges/) + +[Here is the American Institute of CPAs' letter to the IRS, dated June 10, 2016,](https://www.aicpa.org/advocacy/tax/downloadabledocuments/aicpa-comment-letter-on-notice-2014-21-virtual-currency-6-10-16.pdf) asking them to release guidance on whether crypto to crypto can be like-kind exchanged or not. The IRS has not responded to the letter. + +&nbsp; + +**5. How do I calculate the realized capital gain or loss on the sale of my cryptocurrency?** + +The realized gain or loss is your total proceeds from the sale minus what you purchased those positions for (your cost basis). For example, you bought 1 ETH for $300 in June of 2017. In December of 2017, you sold that 1 ETH for $800. Your realized gain would be $800 - $300 = $500. Since you held it for one year or less, the $500 would be a short-term capital gain taxed at your ordinary income tax rate. + +&nbsp; + +**6. Which ETH's cost basis do I use if I have multiple purchases?** + +The cost basis reporting method is up to you. For example, I buy my first ETH at $300, a second ETH at $530, and a third ETH at $400. Later on, I sell one ETH for $800. I can use: + +*FIFO (first in first out)* - cost basis would the first ETH, $300, which would result in a gain of $500. + +*LIFO (last in first out)* - cost basis would be the third ETH, $400, which would result in a gain of $400. + +*Average cost* - cost basis would be the average of the three ETH, $410, which would result in a gain of $390. + +*Specific identification* - I can just choose which coin's cost basis to use. For example, I can choose the second ETH's cost basis, $530, which would result in the lowest capital gains possible of $270. + +&nbsp; + +**7. If I end up with a net capital loss, can I claim this on my tax return?** + +Capital gains and capital losses are netted on your tax return. If the net result of this is a capital loss, you may offset it against ordinary income on your tax return, but only at a maximum of $3,000 per year. The remaining losses are carried forward until you use them up. + +&nbsp; + +**8. What is the tax rate on my capital gains?** + +If long-term, the tax rate is 0%, 15%, or 20%, depending on your ordinary income tax bracket. If short-term, the tax bracket you’ll be in will depend on your total income and deductions. The ordinary income tax brackets are 10%, 15%, 25%, 28%, 33%, 35%, and 39.6% in 2017 and 10%, 12%, 22%, 24%, 32%, 35%, and 37% in 2018 and going forward. + +[Here are the 2017 and 2018 ordinary income tax brackets.](https://www.nerdwallet.com/blog/taxes/federal-income-tax-brackets/) + +[Here are the 2017 and 2018 long-term capital gains tax brackets.](https://www.nerdwallet.com/blog/taxes/capital-gains-tax-rates/) + +[Here is a detailed article on how the calculation of long-term capital gains tax work and how you can take advantage of the 0% long-term capital gains rate, if applicable.](https://www.kitces.com/blog/understanding-the-mechanics-of-the-0-long-term-capital-gains-tax-rate-how-to-harvest-capital-gains-for-a-free-step-up-in-basis/) + +&nbsp; + +**9. If I mine ETH or any other cryptocurrency, is this taxable?** + +Yes. [IRS Notice 2014-21 states that mining cryptocurrency is taxable.](https://www.irs.gov/pub/irs-drop/n-14-21.pdf) For example, if you mined $7,000 worth of ETH in 2017, you must report $7,000 of income on your 2017 tax return. For many taxpayers, this will be reported on your Schedule C, and you will most likely owe self-employment taxes on this income as well. The $7,000 becomes the cost basis in your ETH position. + +&nbsp; + +**10. How do I calculate income for the cryptocurrency I mined?** + +This is the approach I would take. Say I mined 1 ETH on December 31, 2017. I would look up the [daily historical prices for ETH](https://coinmarketcap.com/currencies/ethereum/historical-data/) and average the high and low prices for ETH on December 31, 2017, which is ($760.35 + $710.12) / 2 = $735.24. I would report $735.24 of income on my tax return. This would also be the cost basis of the 1 ETH I mined. + +&nbsp; + +**11. Can I deduct mining expenses on my tax return?** + +If you are reporting the income from mining on Schedule C, then you can deduct expenses on Schedule C as well. You can deduct the portion of your electricity costs allocated to mining, and then you depreciate the cost of your mining rig over time (probably over five years). [Section 179](https://www.irs.gov/publications/p946#idm140672412370912) also allows for the full deduction of the cost of certain equipment in year 1, so you could choose to do that if you wanted to instead. + +&nbsp; + +**12. If I receive ETH or other cryptocurrency as a payment for my business, is this taxable?** + +Yes. Similar to mining, your income would be what the value of the coins you received was. This would also be your cost basis in the coins. + +&nbsp; + +**13. If I received Bitcoin Cash as a result of the hard fork on August 1, 2017, is this taxable?** + +Most likely yes. For example, if you owned 1 Bitcoin and received 1 Bitcoin Cash on August 1, 2017 as a result of the hard fork, your income would be the value of 1 Bitcoin Cash on that date. [Bitcoin.tax uses a value of $277.](https://bitcoin.tax/blog/how-to-tax-bitcoin-cash-bch/) This value would also be your cost basis in the position. Any other hard forks would probably be treated similarly. Airdrops may be treated similarly as well, in the IRS' view. + +Here are a couple more good articles about reporting the Bitcoin Cash fork as taxable ordinary income. The second one goes into depth and cites a US Supreme Court decision as precedent: [one](https://www.forbes.com/sites/tysoncross/2017/10/17/yes-the-bitcoin-hard-fork-really-is-taxable-income-heres-what-you-need-to-know/), [two](https://www.bitcointaxsolutions.com/yes-bitcoin-hardford-is-taxable-income-heres-why/) + +&nbsp; + +**14. If I use ETH, BTC, or other cryptocurrency to purchase goods or services, is this a taxable transaction?** + +Yes. It would be treated as selling your cryptocurrency for USD, and then using that USD to purchase those goods or services. This is because the IRS treats cryptocurrency as property and not currency. + +&nbsp; + +**15. Are cryptocurrencies subject to the wash sale rule?** + +Probably not. [Section 1091](https://www.law.cornell.edu/uscode/text/26/1091) only applies to stock or securities. Cryptocurrencies are not classified as stocks or securities. Therefore, you could sell your ETH at a loss, repurchase it immediately, and still realize this loss on your tax return, whereas you cannot do the same with a stock. [Please see this link for more information.](https://www.bitcointaxsolutions.com/bitcoin-wash-sales/) + +&nbsp; + +**16. What if I hold cryptocurrency on an exchange based outside of the US?** + +There are two separate foreign account reporting requirements: FBAR and FATCA. + +A FBAR must be filed if you held more than $10,000 on an exchange based outside of the US at any point during the tax year. + +A Form 8938 (FATCA) must be filed if you held more than $75,000 on an exchange based outside of the US at any point during the tax year, or more than $50,000 on the last day of the tax year. + +The penalties are severe for not filing these two forms if you are required to. Please see the second half of [this post](https://www.reddit.com/r/Bitcoin/comments/1uccfz/i_am_a_tax_attorney_here_are_my_answers_to_the/cegm06s/) for more information on foreign account reporting. + +&nbsp; + +**17. What are the tax implications of gifting cryptocurrency?** + +Small gifts of cryptocurrency do not have a tax implication for the gift giver or for the recipient. The recipient would retain the gift giver's old cost basis, so it could be a good idea for the gift giver to provide records of the original cost basis to the recipient as well (or else the recipient would have to assume a cost basis of $0 if the recipient ever sells the cryptocurrency). + +Large gifts of cryptocurrency could start having gift and estate tax implications on the giver if the value exceeds more than $14,000 (in 2017) or $15,000 (in 2018) per year per recipient. + +[Here's a good article on Investopedia on this issue.](https://www.investopedia.com/university/definitive-bitcoin-tax-guide-dont-let-irs-snow-you/definitive-bitcoin-tax-guide-chapter-2-bitcoin-commerce-taxable-events-c-gifts-and-tips.asp) + +An important exception applies if the gift giver gives cryptocurrency that has a cost basis that is higher than the market value at the time of the gift. [Please see the middle of this post for more information on that.](https://www.reddit.com/r/Bitcoin/comments/1uccfz/i_am_a_tax_attorney_here_are_my_answers_to_the/ceglzi1/) + +&nbsp; + +**18. Where can I learn even more about cryptocurrency taxation?** + +[Unchained Podcast: The Tax Rules That Have Crypto Users Aghast](http://unchainedpodcast.co/the-tax-rules-that-have-crypto-users-aghast) + +[IRS Notice 2014-21](https://www.irs.gov/pub/irs-drop/n-14-21.pdf) + +[Great reddit post from tax attorney Tyson Cross from 2014](https://www.reddit.com/r/Bitcoin/comments/1uccfz/i_am_a_tax_attorney_here_are_my_answers_to_the/) + +&nbsp; + +**19. Are there any websites that you recommend in helping me with all of this?** + +Yes - I have used [bitcoin.tax](https://bitcoin.tax) and highly recommend it. You can import directly from an exchange to the website using API, and/or export a .csv/excel file from the exchange and import it into the website. The exchanges I successfully imported from were Coinbase, GDAX, Bittrex, and Binance. The result is a .csv or other file that you can import into your tax software. + +I have also heard good things about [cointracking.info](https://cointracking.info/) but have not personally used it myself. + +&nbsp; + +**20. Taxation is theft!** + +I can't help you there. + +&nbsp; + +--- + +&nbsp; + +That is the summary I have for now. There have been a lot of excellent cryptocurrency tax guides on reddit, such as [this one](https://www.reddit.com/r/Bitcoin/comments/1uccfz/i_am_a_tax_attorney_here_are_my_answers_to_the/), + [this one](https://www.reddit.com/r/litecoin/comments/7j4zri/lets_clear_this_up_taxes_on_crypto/), and [this one](https://www.reddit.com/r/CryptoCurrency/comments/73q3kf/clearing_up_misconceptions_about_cryptocurrency/), but I wanted to post my short summary guide on r/ethtrader which hopefully answers some of the questions you all may have about US taxation of ETH and other cryptocurrencies. Please let me know if you have any more questions, and I’d be happy to answer them to the best of my ability. Thank you! + +**Regarding edits:** I have made many edits to my post since I originally posted it. Please refresh to see the latest edits to my guide. Thank you. + +&nbsp; + +--- + + +**Disclaimer:** + + + +The information contained within this post is provided for informational purposes only and is not intended to substitute for obtaining tax, accounting, or financial advice from a professional. + +Any U.S. federal tax advice contained in this post is not intended to be used for the purpose of avoiding penalties under U.S. federal tax law. + +Presentation of the information via the Internet is not intended to create, and receipt does not constitute, an advisor-client relationship. Internet users are advised not to act upon this information without seeking the service of a tax professional. +I'm an old ape. Lurked through the end of 2020 and started commenting and posting a little here and there since losing my mind completely in January. My job lets me watch everything GME all day every day, and I'm an addict to reddit, social, and tickers. Today was special. I have no scientific evidence, just an opinion rooted in some deep personal experiences in this world, and things have turned a corner. I think we broke their backs today. Snapped their hopes in two. This was the most concentrated and coordinated attack I think I've seen, and it was for nothing, literally nothing, maybe less than nothing. The price is up a little and our resolve is stronger. To be dramatic the hedgies have cut themselves a thousand times in a futile attempt to drown us in their own blood. As this has failed, and we are not drowned, they fling their corpse at us as their final weapon. We are winning. Buy! Hold! and Buckle Up! This is the Way! 🐒🏙🐒🚀🚀🚀🐒🐒🐒🐒 +**Zillow Quits Home-Flipping Business, Cites Inability to Forecast Prices. Termination of ‘iBuying’ comes after company said it was halting new home purchases for rest of 2021** + +&#x200B; + +>Real-estate firm Zillow Group ZG -11.52% is exiting the home-flipping business, saying on Tuesday that its algorithmic model to buy and sell homes rapidly doesn’t work as planned. +> +>The firm’s termination of its tech-enabled home-flipping business, known as “iBuying,” follows Zillow’s Oct. 18 announcement that it was halting all new home purchases for the rest of the year. At the time, Zillow pointed to labor and supply shortages for its inability to renovate and flip houses fast enough. +> +>But Chief Executive Rich Barton said Tuesday that Zillow had failed to accurately predict the pace of home-price appreciation, marking an end to a venture the company once said could generate $20 billion a year. +> +>“We’ve determined the unpredictability in forecasting home prices far exceeds what we anticipated and continuing to scale Zillow Offers would result in too much earnings and balance-sheet volatility,” Mr. Barton said in a statement. +> +>Zillow’s share price was down about 12% in late trading on Tuesday, but before it announced the decision to end home flipping. +> +>The move represents a big hit to Zillow’s top line. Home-flipping was the company’s largest source of revenue, but it has never turned a profit...... + +[https://www.wsj.com/articles/zillow-quits-home-flipping-business-cites-inability-to-forecast-prices-11635883500?mod=Searchresults\_pos1&page=1](https://www.wsj.com/articles/zillow-quits-home-flipping-business-cites-inability-to-forecast-prices-11635883500?mod=Searchresults_pos1&page=1) +A former user named u/atayls loved to fear monger, and for years was predicting an imminent catastrophic equities and property market crash. + +He was banned from Reddit after having numerous alt accounts, swearing at people, making scores of failed predictions and even threatening to fight women boxing. + +I have collated his predictions to see how ridiculous they look in hindsight, and to help people to see to not take this type of fear mongering seriously. + +These silly failed (and failing) predictions deserve to be exposed- if anyone had actually taken this fear mongering seriously in the last 3 years they would have lost out majorly financially. Following doomsday predictors will ensure you lose money while the markets go both up and down. + +Demonstrated stupidity of atayls: + +8 August 2018- "I'm looking at around Q3 2019 for the US correction to commence." + +22 August 2018- "US equities begin correction at or toward end of Q2 2019. I'm operating on that basis and moving to be 50% cash by then. I would envisage this could spread down here quickly and could well precipitate further steep falls in property, and our economy would then sink into recession." + +1 September 2018- "I bet you... that we have a 50% fall within 5 years. You up for it? My view is that median house prices should be 2-3x median incomes. You can bump it up to 4-5x in hotspots perhaps." + +6 September 2018- "Currently moving to a 50% cash position by Q2 2019 in anticipation of a correction beginning around that time." + +8 September 2018- "Yeah I think this might show some of the property bulls that all is not as it seems. I stand by my 50%-70% correction figures and I think the this data supports my conclusion." + +9 September 2018- "It was 50%-70% in the next 3-5years. So the bet would have to be reflective of that." + +16 September 2018- "I agree with you. 40% is not happening. 50%-70% is the more likely outcome over the next 3-5 years. The median house price in Sydney will be around $500K." + +17 September 2018- "I reckon median house prices in Sydney will fall to roughly 2007 levels in the next 3-5 years. So that’s around $500k." + +24 October 2018- "50-70% by the end of 2023." + +8 November 2018- "I always mention the median house price for Sydney will get to around $500k." + +4 December 2018- "My view remains the same. I have estimated falls of 50%-70%. I think it is headed to 2007 levels at the moment. It could continue to fall further from there. 2001 would be the next level which would be $325K, and would undoubtedly be representative of a definitive crash." + +31 January 2019- "Sell now, rent somewhere nice where you intend to eventually buy, and wait out whilst property prices continue to fall. When you get closer to kid time buy back in." + +1 March 2019- "I reckon that CBA will fall to around $25." + +18 May 2019- "Yeah to get fall 50% I reckon 2-3 years is not unreasonable." + +18 May 2019- "50-70% falls over next 2-3 years as an economic recession strikes and equity markets enter a sustained bear market." + +18 March 2020- "I think we are heading to 4000. If it breaks through 4000 I think there is a reasonable chance that it will fall below the GFC level of 3400." + +7 April 2020- "It could fall 50% if that’s what you mean. But 30% is my minimum estimate. Over the course of this year." + +13 April 2020- "Prices will fall 60-90% over the next 3-5 years. This is our Celtic Tiger failure." + +13 April 2020- "this is the beginning of a cascade of falling prices. The initial falls will be perplexing to some property investors as it is so much again the grain. As the forced sales continue unabated there will be a FOMO effect on sellers, and the falls will accelerate. This is how we will liekly reach the 60-90% falls over the next 3-5 yearts. Anyone highly leveraged should be looking to liquidate ASAP to avoid bankruptcy." + +15 April 2020- "Apartments will fall in value 60-90% over the next 3-5 years." + +16 April 2020- "I regret to inform you that the person I am referring to, the *lunatic* who believes a 60-90% fall is possible, is indeed myself." + +30 April 2020- "I concede we have got to 5600 but I remain convinced this uplift is temporary and we will be much lower than March come December." + +30 May 2020- "Down 20% over next 12 months. 60%+ over next 3-5 year." + +2 June 2020- "December expiry XJO puts would seem OK. Or begin to accumulate BBUS, BEAR or BBOZ." + +16 June 2020- "Rates can go up. Property values can fall. The collapse of the property market has only just begun." + +20 June 2020- "COVID is getting much worse very quickly. This is going to destroy the world economy and cripple markets. Sell everything whilst you still can mate." + +21 June 2020- "The property market crash has begun. Over the next 3-5 years prices will fall at least 50%." + +22 June 2020- "If you have exposure to property sell now, or hedge immediately." + +11 July 2020- "It is a terrible time to be a property investor and it is only going to get much, much worse." + +3 July 2020- "Yeah I’ve been able to DCA into BBOZ BBUS SQQQ and SPXU at better and better prices. When this does blow up I’m going to have a war chest of inverses." + +27 July 2020- "I’ve held BBOZ and BBUS for over 12 months now. I’m satisfied with the performance of he product and it’s suitability to my portfolio." + +8 August 2020- "the beginning of the next equity correcrions start between now and the end of Sept" + +12 August 2020- "the depression has only just begun." + +14 August 2020- "the collapse has begun and it will be unstoppable." + +4 September 2020- "Tech wreck 2 has begun." + +5 September 2020- "I called this crash to the day" + +21 October 2020- "SYD/MEL property to fall 50%. The crash has begun!" + +22 October 2020- "It really is hard to find any positives for property now. The collapse has begun, and it will be brutal. I am pouring one out tonight for the property investors." + +29 October 2020- "don't worry about APT. The DEC 17 100 put will be just fine." + +13 November 2020- "LONG SQQQ SPXU BBOZ SNAS" + +13 November 2020- "Short APT WBC CBA TSLA" + +10 December 2020- "Bro, don't you worry just one bit, APT will be under 90 this time next Thursday." + +14 December 2020- Threatened a female to fight him in a "boxing match". + +21 January 2021- "I’m at hospital right now organising an assistant to help me deal with all the money after this imminent crash." + +1 February 2021- "good time to be holding BBUS and SNAS" + +1 February 2021- "crash, imminent." + +1 February 2021- "Sort of hard to see markets moving higher at present with so much going on and the uncertainly around it all." + +11 February 2021- "APT price target- $0." + +15 February 2021- "Bitcoin is worthless. Bitcoin is headed to zero, it’s not a question of if but only when." + +23 February 2021- "Tech is selling off. $TSLA looks headed for $70." + +9 March 2021- "Buy SNAS. Hold IVR Sell APT (short)." + +17 March 2021- "Bitcoin will soon be worthless. For Bitcoin and Crypto this is the beginning of the end." + +23 April 2021- "Apt price target- $4. Zip price target- 30 cents." + +1 August 2021- "Yeah the crash had already begun and April was actually a strong relief rally which probably sucked in even more people going long." + +2 August 2021- "Engineers are dumb cunts in my experience" + +3 August 2021- Called a number of other people cunts and other insults and was completely banned. + +Fortunately their multiple alt accounts were banned after this. +Used to be an engineer. Now in my late 30s I'm a "professional landlord". Quit my corporate job a few years back. To me, this has been the best thing I've ever decided to do. No, it's not 100% passive. But it's very damn near it. I have may be a maintenance call a month. Dozens of units. I manage my own rentals. I regularly do upgrades on my own and believe me I take my time and do it at my leisure. This is a completely different work life than my engineering career which was always crunch time all the time. + +From reading on this site as well as talking to a lot of people, I dare say 99% of investors and investor-wannabes aim to get a couple of investment properties and still keep their full time jobs until they retire in their 60s. In other words, 99% of the people I have talked to never seriously consider replacing their w-2 income with rental income. + +Why? Again, I'm convinced deciding to go this path has been the best decision I ever made. Especially having read recently about the massive layoffs in the tech sector. I never have to worry about being laid off again ever in my life. I don't have a boss breathing down my neck. I don't ever have to worry about trying to find a new job. I've never felt this kind of security in my entire adult life before. + +How come not more people aim to gain FI through REI? + +PS - Please don't PM me for secrets or whatever. I never attended any conference or any of that. Everything I learned online for free. +Just watched the China hustle, I’m a bit surprised that Chinese companies held by hedge funds, pension funds etc don’t produce reliable financial reports and there is no proper way to access them. +I’ve bought in to Alibaba at $142. And think of it as a long term investment. Watching the documentary I feel a bit uncomfortable in adding to my position. +Have any of you China investors watched the documentary? How do y’all feel? +Personally I want to load up alibaba at These depressed price levels. But feel unsure after watching the documentary. The reasons are many not being transparent, ethical issues etc. +I understand not all Chinese companies fall in to the category spoken about in the documentary. +I read an article earlier about Michael Burrys investing approach. He mentioned that he’s a true value investor inspired by Graham and Warren. + +He also mentioned that he tends to ignore P/E ratios and thinks that return on equity is both ‘deceptive & dangerous’. + +He prefers looking at EV/EBITDA. Any idea why he would prefer this over P/E? +I’ve tried to learn technical analysis and the different patterns of stock charts. There’s obviously thousands of courses and online videos about this sort of thing. But it seems that almost none of these patterns can be used sustainably over long periods of time, as external news events always triumph over any chart reading. + +The conclusion I have come to is that technical analysis is no different than astrology. It’s much better to look at the fundamentals of a business and it’s growth potential than to try and guess the next stock price based on some lines on a chart. + +The only question I have is: why do so many people try to use it and why are there so many fake YouTubers and scammers who try to sell you on this stuff? +I narrowly avoided being scammed out of the entire amount of my house downpayment by a fraudulent email that looked very similar to an email that my lawyer would send. It looked so good, all the right details where there. I was even talking about the last closing details with the lender this morning. + +I scheduled the wire but then realized my "something is fishy" internal alarm was going off. I called the lawyers office and confirmed that the account number on the wire transfer information was not their account, and that they hadn't sent me wire instructions. The scammer had nearly every critical detail about the house closing in the "Closing Disclosure". The right "From:" name on the email, but I noticed that the email address was not from my lawyer's domain. Once I confirmed that this was a scam, I had a VERY tense few minutes calling the bank to try to stop the wire transfer from completing. Thankfully I got the wire canceled before it was sent. + +I learned a very valuable lesson today. Never wire money without calling the main office to confirm, even if all the details look correct in the email. If that wire had gone out to the scammer, the house closing would have to be canceled, and I would be out major money. Once a wire has left the building, it's gone. + +Now I get to investigate and escalate a MAJOR breach of information somewhere between my lawyer and the lender's office working on this file. Turns out the Disclosure form they sent me was the EXACT disclosure form that my lawyer shared with the bank yesterday... So something is breached. + +Verify your wires. +Listen to the little voice that says “something is fishy”. + +FUCK, that was close guys. + +Edit: Also locked my credit for the time being. I asked the lender if they need it again and they said no. + +Edit: I know it wasn’t my email that was compromised because they used a document I hadn’t received up to that point. It was only sent between the lender and the lawyer. I also use the best email security I know how to: 2FA with Authenticator (not sms), one time codes in my safe if I ever lose my phone, strong unique password that I rotate regularly and is managed by 1password. +The directive that was received from Gamestop. I then explained about the clarification from Gamestop on how it SHOULD have been handled, and that they were supposed to put in new shares that were received from the DTCC, which of course, were never received. The supervisor said they expect to have some additional info next week and will communicate when it's clear on there end, but that Fidelity will process it properly in order to comply with Gamestop's splivvy specifics. + +I recorded the entire call, and made them aware that I was recording immediately after I was told I'm also on a recorded line. No objections came from their end so I have the call if it is ever needed and if they accidentally "lose" their recording of the call. + +Both people I spoke to were helpful and reasonable, and agreed there seems to be a firestorm brewing that will hopefully get cleared up quickly. + +I also offered to send them the clarification that RC sent, but they said it's unecessary because they have to wait for orders from their bosses on next steps. + +I'll send another update if I learn anything new but for now, I can confirm that Fidelity employees were told to implement it as a 4-1 split, no divvy shares, and that this order came directly from Gamestop. + +Also, not sure if Education is the right flair here, but don't know what really fits better than that. + +Good luck to all apes!! +🍿 Post to be updated with links to the earnings report as soon as they're released. 🍿 + +#🙏🥑🙏🥑🙏🥑🙏🥑🙏🥑🙏🥑🙏🥑🙏🥑🙏🥑 + +[Earnings Call Webcast](https://viavid.webcasts.com/starthere.jsp?ei=1424794&tp_key=d5ec83cadf) ~~<--- ENTER BEFORE IT FILLS UP~~ - STARTS AT 5PM EST + +~~[Earnings Call is FULL, use this link for a backup stream](https://www.youtube.com/watch?v=cvh0nX08nRw)~~ Backup link is full + +#[EARNINGS REPORT](https://investor.gamestop.com/news-releases/news-release-details/gamestop-reports-fourth-quarter-and-fiscal-2020-results) +I use a site called FastGraphs to pick stocks. I am interested in high-quality stocks (Dividend Champion) that have a favorable forecasted future. The program shows the price (back line) vs the fair value (blue and orange lines) as determined by the PE. The goal is to buy low (when the black price is below the blue FV line) and sell high (when the price is above the blue line). What I want to highlight is the highest-rated company on Earth, JNJ, is unaffected by war, Covid, or financial crisis. JNJ is rock solid. There are many others that stay the course every day of every year in case you are interested. + +https://preview.redd.it/ae5nw84n5k991.png?width=2552&format=png&auto=webp&s=a1a65c8933f25f66e2576cb8f00a86e8fa562fc9 +How do people even work some of these jobs unless they have a wealthy spouse? It makes no sense at all. A bachelor's degree in a bunch of tests to make 16 an hour. That's insanity. +Private health care and insurance is a huge market in the US. How many jobs would be lost there if universal healthcare became the norm? Would it be enough for a noticable recession? Is there a way to do this without any ill effects on tbe economy? +Last night I posted a bit of a half asleep cry for help in the daily thread. After a few red days I cashed out about a week ago and my life has been a mess. Driving around the suburb at night with my dog, unsure what I was meant to be doing or where I was meant to be going. Not even a trip to KFC could sort my head out. + +I saw a property online recently, standard half a mil, the entry price for the area I want to move into. I was doing the sums and, at the rate I’m saving, I won’t have a deposit for another 6 years. It feels like just yesterday I was on the precipice of living my life by the pool in my white linen shirt, lambo in the driveway and my wife’s mouth firmly wrapped around someone else’s cock. Now I’m here, counting pennies in my dollarmite account like a fucking 7 year old. + +Is this what years of economic management prioritising the needs of the rich has gotten us? A median house price going from 3x the average wage in my parents lifetime to 8x the average wage today? A life of servitude to a job that affords you mere survival? I’ve had enough. + +I’ve taken all my pretty pennies and I’ve thrown them back into four stocks I trust: BRK, AGE, EXR and PDN. Now, I’ve deleted the commsec app. As of this post, my phone will be snapped in half. I’m out. I don’t want to know. I can’t spend my life staring at the screen, willing the numbers to ignite my future dreams. At some point, I’m going to have to come back. I’m giving myself a month, but if it works for me, I’m staying out. Maybe my stocks blow up? Maybe I die? I don’t care anymore. +In principle, any rational investor should be economically motivated to buy and contribute to triggering the MOASS - small retail investors and big whales alike. + +Big whales have more power however, as they can: + +1. Make sure the transaction goes through lit exchanges, avoiding undesirable manipulations. +2. Contribute directly to price movements that may help trigger the MOASS. + +One could also think about reasons why big whales may want to avoid this: + +* If the MOASS is financially catastrophic, they may prefer not be part of what caused the catastrophe. This is however a weak argument because the real cause is not the buyer but the short-seller, and if one whale chooses not to do it, another one might. Also, if the catastrophe is imminent, taking part in the MOASS can be a lifesaver. +* There is an implicit threat to anyone in the financial world who dares to play against the big boys. This is likely, actually, as big finance is all about connections after all. However, this shouldn't stop disconnected whales from foreign countries or new risk-loving funds with capital and no reputation to lose. + +What do you think? Why don't we see big whales jumping on board? Or do you think they are actually here but somehow their presence and impact is unnoticeable? + +\* \* \* + +Edit 1: the downvotes indicate that either shills don't want us to debate this or that we are not open to debating. + +Edit 2: this evolved into a very interesting discussion, and several comments have raised valid points I was not aware of. Truly a learning experience. Feels amazing to be part of Superstonk not only because of the amazing company GME is or because of how we follow the path towards the MOASS, but also because of the **friendly Superstonkers who are willing to share their knowledge**. Extremely engaging, thank you very much. +🎉**Welcome to SafeGem Finance!**🎉 + +&nbsp; + + **Progress on all fronts:** + +&nbsp; + +- Total facelift for the brand: new logo, new website, and OWN crypto-verse +- OWN Mobile app in progress: SafeGem wallet+crypto education +- NFT Launchpad progress: First NFTs minted that will serve as digital certificates for GEMS +- Business case validated with top jewelry and precious stones dealers + +&nbsp; + +**From the devs**: “We worked really hard since launch to deliver on all fronts. All elements of the SafeGem ecosystem are being worked on, while keeping close contact with the community!” + + +&nbsp; + + + +📱 Telegram: t.me/safegemtokens + +💎 Website: safegem.finance/ + +🍰 PancakeSwap link [Use V1]: v1exchange.pancakeswap.finance/#/swap?outputCurrency=0xdfdec49462f7d3c3b0a48e729f77a0645cdfa7c0 + +🔗 Contract address: 0xDfDec49462f7D3C3b0A48E729F77A0645CDFA7c0 + +📈 Chart: poocoin.app/tokens/0xdfdec49462f7d3c3b0a48e729f77a0645cdfa7c0 + +🦄 Medium: safegemfinance.medium.com + + + +&nbsp; + + +**Project summary and features** + +&nbsp; + +**SafeGem is a deflationary, yield generation protocol, with a validated real-world use case**, that holds the key to revolutionize an entire industry, by providing a **never-seen-before authentication procedure for jewelry and precious stones in the blockchain through NFTs.** The SafeGem team is targeting top jewelry and precious stone dealers, and their business strategy is detailed in their latest medium article: +safegemfinance.medium.com/safegem-updates-and-business-case-70d3569e3283. + + +&nbsp; + + +**WHAT ELSE IS SAFEGEM OFFERING:** + +- 6% Fee on each transaction will be distributed among all holders + +- 5% Burning percentage of each transaction + +- more than 60% of total supply burned + +- Liquidity Locked for 1 year + +- Dev wallets locked for 2 months with gradual vesting times + +- Dev team with more than 10 years of experience that continuously works on our product + +- Big plans for the future, more changes coming up + +- More than 10.000 holders, 6.000 Twitter followers + +- Various marketing efforts through influencers + +- High-level team engagement +Your markets are run by bots. Now your daily threads are too. + +&#x200B; + +This thread is for plans and thoughts prior to the market open period. + +Maybe use this time to read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) [.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +&#x200B; + +Posts relating to the "Is /r/ASX_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. [You have been warned](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share). + +&#x200B; + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related](https://discord.gg/wsNDGTf5QH). +Gamified fundraising. + + +With all of the recent refocus in BSC as we enter the memecoin casino phase of the bull run (if anyone remembers this during the 2017 bull run on ETH memes, you know we’re still in for quite a treat) it’s refreshing to see some good come from all this wanton day trading. + + +Yes indeed, the recent run of charity coins is the absolute perfect application to all this gambling, and it honestly surprises me that it took crypto taking this turn for people to realize the opportunity in gamifying charitable donations. + + +Because as much as we all like risking our entire life savings for the promise of the monster gains of mass adoption, it helps to know that when we inevitably get financially ruined, well, at least some of it went to goodwill. + + +So you can see with a name like Happy, and a charitable cause that is emerging as people learn to speak more openly about the mental illnesses that plague us, that there is serious potential here to rewrite the game on how to source these types of donations and create a true foundation of social programs for BSC, and perhaps all of crypto. + + +At a tiny $7M circulating market cap, there is just so much room for this coin to run as people recognize the legitimacy of these charity coins in spite of their humble beginnings. When people understand that both charitable organizations skim off more than you think, and that casinos are perfectly acceptable avenues for money, and that a casino that donates to charity is an idea that only works in practicality on the blockchain, this is no joke to be just as valuable as a SafeMoon or even DOGE. + + +After all, $HAPPY has the same general game mechanics that make those tokens so appealing, but offers the kind of real world utility that attracts normies and provides lasting value. This is all on a project with burned liquidity and ownership renounced making this absolutely rug-proof. + + +And with the team currently in talks with a number of mental health organizations, they should have their first donation of $10,000 out the door Friday. If other charity tokens have been any sort of indication, there should be quite an uproar once this news is confirmed and publicly shared by the receiving organization. + + +Audit will also be delivered Friday with a whitepaper rumored to be coming sometime before that. CEX listings have also been given a heavy hinting, meaning WhiteBit could be just around the corner… + + +In other words, this should be one hell of a weekend and with a couple of whales having recently made their exit, there truly won’t be another buy opportunity like this. So take advantage of the entry point and thank me later. There truly won’t be anything as calming on the mind as $HAPPY in this new world of gamified fundraising. + + +Website - https://thehappycoin.co + + +Telegram - https://t.me/happy_coinTG  + + +Buy Link - https://exchange.pancakeswap.finance/#/swap?outputCurrency=0xB0B924C4a31b7d4581a7F78F57ceE1E65736Be1D  + + +Chart - https://poocoin.app/tokens/0xB0B924C4a31b7d4581a7F78F57ceE1E65736Be1D  +My dad is currently addicted to stocks and it seems to be worsening. + +I keep telling him to put his money in an index fund but he keeps pulling out his MBA and venture capital classes he took from Georgia tech and tells me to shut up. + +Although I tell him statistically most people lose money from day trading he keeps acting like he can beat the market with individual stocks (he says that in the most literal way possible) and He’s going one step further and making a trading bot now. + +I know he’s my dad and I don’t really want to fight him but I’m really worried about him seemingly gambling away his life savings. He is soon going to retire from his data-analytics job. + +And although I know that some very talented people make money out of trading bots and stuff but It really is going against traditional knowledge on how to invest as a individual. + +Previously posted this on WSB and immediately got a comment to put all the money in bbby. It was fun and all but I’d really like some actual advice + +Some additional context: I invest in individual stocks, bonds, and etfs. +I am a minor and a highschooler. +My investments total around 30000$ + +I read different stuff like john bogle, peter lynch, graham and etc to stuff on investopia. + +my dad is a data scientist who works as a r&d researcher or whatever. +He has a portfolio of like 300,000. + +Another edit: +He is a investor that often swings stocks +(What I was referring to the “day trading”) + +He has stuff like TSLA and google and 3M +And lots of dividend stocks I recommended. +I just can’t get him to bury the idea of actually making a day trading bot and swing trading. + +My portfolio is 70% stocks (etfs, reits, blue chips, dividend sfocks) and 30% bonds. (Corporate&treasury) + + +To be a little more clear: +He’s not retiring with 300k. He has real estate and if I recall correctly he has more in cash to what he has in stocks. His future plan is to expand the stock portfolio. + + +Lol you guys are kidding me right? +You keep asking me for his returns +He’s up 1% this year. So? +He got hit by the crash and bought the dip +That doesn’t mean he’s capable of making long term returns 😂 + +Who cares if he made money or not his logic is still flawed + +I literally had some dude post this on r/Gatech saying this is likely satire. I swear to god this is real. Why tf do you guys not take this seriously? This is a real problem to me + +I told my dad, he instantly downloaded reddit, and is currently going on a rampage to actually find this page. Thank you for all your kind opinions (sarcasm) and have a good day! +# 0. Preface + +I am not a financial advisor - and this is not financial advice. + +I was looking this up last night and it made me lose some sleep because everything started to click. + +Seriously I think I got maybe four hours at most. I'm flipping out. I need you guys to be reasonable and put me down if I'm on a nothing burger path. + +I'm throwing these thoughts to the wolves (you guys) to pick at it and get more discussion. + +[Reddit About To Kill My Hype](https://preview.redd.it/tmi76uorgzg71.png?width=300&format=png&auto=webp&s=1631634ac0548d1f2ba6479ce3754018cd1159f8) + +# 1. Futures Vs Options + +Both Options and Futures are derivatives. Which you can essentially think of as a side bet of an underlying asset. + +An options contract **does not** require the purchase or sale of the underlying asset. While futures contracts **do** require the purchase or sale of the underlying asset. + +>An **options contract** **gives an investor the right, but not the obligation**, to buy (or sell) shares at a specific price at any time, as long as the contract is in effect. +> +>By contrast, **a** **futures** **contract requires a buyer to purchase shares—and a seller to sell them**—on a specific future date, unless the holder's position is closed before the expiration date. - [Source](https://www.investopedia.com/ask/answers/difference-between-options-and-futures/) + +And you can get futures contracts for Equity Indexes. Or in other words you can get future contracts on "baskets" of stocks. + +>Equity Index Futures are derivatives instruments that give investors exposure to price movements on an underlying Index. Market participants therefore can profit from **the price movements of a basket of equities without trading the individual constituents**. An index futures contract gives investors the ability to buy or sell an underlying listed financial instrument at a fixed price on a future date. - [Source](https://www.jse.co.za/trade/derivitive-market/equity-derivatives/equity-index-futures) + +# 2. "Meme" Stock Basket + +It's without a doubt in my mind that a handful of "meme" stocks are following the same price movements, and they're all in this together. Notably: GME, AMC, KOSS, BBBY, EXPR. + +GME of course being the outlier that has massive, massive short interest. [Where the SI% is most likely hidden because of a swap of the short position through ITM CALLs](https://www.reddit.com/r/Superstonk/comments/orr9tf/speculative_piecing_together_the_itm_calls_and/). + +Here's all of them plotted: + +[GME, AMC, KOSS, EXPR, BBBY Price Movements](https://preview.redd.it/ckblnn14hzg71.png?width=1924&format=png&auto=webp&s=66b86ffac689405b7df9c705fc6cc18806777cc6) + +I'm getting convinced that these price movements are driven by derivatives around indexes/ETFs that contain the "meme" stocks as a basket because their price movements are so synchronous. + +Thanks to /u/turdfurg23 \- and I'm sure many others who he has worked with - one of the main ETFs containing GME, AMC, KOSS, BBBY, EXPR is **VTI**. The actual weights of GME in VTI is quite low. Extremely low. But, it's an example of a basket that holds these "meme" stocks. + +Again, I'm throwing this all to the wolves to help pick this apart. Because way more eyeballs on this right now is better than just myself looking into it. + +Best guess? Someone \*cough\* is on the wrong side of a futures contract trade for a basket which holds all of GME, AMC, KOSS, BBBY, EXPR, and other "meme" stocks. + +Because... + +# 3. "Meme" Stock Prices Spike Prior To Equity Index Rollover Dates + +When you open up a futures contract, you don't have to go to initial expiration and be forced to buy/sell. You can essentially "extend" the expiration of the position forward. You still maintain the same position, but your position isn't completely closed out. This is done by closing the original contract and then opening a newer contract for the **exact same underlying asset** **at the current market price**. + +This "rolling" of a futures allows you to maintain that same risky position beyond the initial expiration of the contract rather than being forced to close it out by buying/selling the underlying. The "rollover" is typically carried out shortly before expiration of the initial contract. But, by performing this rollover it requires the gain/loss on the original contract to be settled. Essentially a "partial" close-out of the initial contract. + +I saw this chart last night which really caught my attention. It's the Equity Index Futures expiration and rollover dates per **CME Group** (more on them in a little bit). + +I've circled a few rollover dates for the equity index futures. Interesting dates, huh? These are around the time when all of the "meme" stocks surged in price and subsequently GME flash crashed. + +[https:\/\/www.cmegroup.com\/trading\/equity-index\/rolldates.html](https://preview.redd.it/k07tbab6hzg71.png?width=917&format=png&auto=webp&s=2ab686dc3af9ea84440b71744cb9ae1c114d38e9) + +Take another look at the "meme" stock price chart. On there are two dashed green lines marking 3/11/21 and 6/10/21. Huge surges in price occur just before these dates. Afterwards - decay in stock price. + +But this does not mean that the futures **must** be rolled over on those specific dates. + +Actually, they can start to be rolled over **before** these dates within a defined timeframe. The ones circled in the table are basically the "deadline" dates, or the "Last Trading Day" dates. + +>**A futures position must be closed out either before the** **First Notice Day**\*\*, in the case of physically delivered contracts, or before the\*\* **Last Trading Day**, in the case of cash-settled contracts. The contract is usually closed for cash, and the investor simultaneously enters into the same futures contract trade with a later expiry date. - [Source](https://www.investopedia.com/terms/f/firstnoticeday.asp) + +So, the timeframe where rollouts can start is on of just before the "First Notice Day". Which is defined as follows: + +>A First Notice Day (FND) is the day after which an investor who has purchased a futures contract may be required to take physical delivery of the contract's underlying commodity. The first notice day can vary by contract and will also depends on exchange rules. +> +>**If the first** **business day** **of the** **delivery month** **was Monday, Oct. 1, first notice day would typically fall one to three business days prior, so it could be Wednesday, Sept. 26, Thursday, Sept.27, or Friday, Sept. 28.** **Most investors close out their positions before first notice day because they don't want to own physical commodities.** According to CME Group, only approximately 2.5% of futures contracts actually go to physical delivery. + +From the above, the "First Notice Day" is typically three business days prior to the first business day of the month of settlement. **And in some cases**, rollovers occur one business day prior to that, coming out to be four business days total. + +Which gives us these as possible "rollover" timeframes: + +|Futures Expiration Date|First Notice Day (T-3 from first business day of the expiration month)|Day Before First Notice Day (Some rollovers occur starting here)|Last Trading Day / Roll Date|"Rollover Period" (Timeframe where Equity Indexes are rolled)| +|:-|:-|:-|:-|:-| +|March 19|**February 24**|February 23|March 11|February 23 - March 11| +|June 18|May 26|**May 25**|June 10|May 25 - June 10| +|September 17|August 27|August 26|September 9|August 26 - September 9| + +Damn, look at that. February 24th should ring some bells. Likewise, May 25th. Rollovers initiate and must be completed by the Last Trading Day. + +Thus plotting it out on the chart gives this: + +[Equity Index Rollover Periods And Price Movements](https://preview.redd.it/dzvstm48hzg71.png?width=2206&format=png&auto=webp&s=82cf85c5287c36436b342901284a910cf28e4e47) + +This is potentially driving the price spikes because they close out their original contracts, eating some losses. + +>It is usually carried out shortly before expiration of the initial contract and **requires that the gain or loss on the original contract be settled.** + +Only for them to extend their futures expiration to the next quarterly expiration date by rolling the contracts. + +Meaning that they ate some losses in March by settling the losses, while simultaneously extending to June. Only to arrive at June to eat more losses by settling those losses, and simultaneously extending the futures to September. + +I know that quite a few others have posted about these price movement patterns as well. Please understand that many other amazing apes have noticed these quarterly movements. Credit where credit is due! But I've always scratched my head as to WHY those movements happened. And this... this shit just makes too much sense. + +So. Price run coming between August 26th and September 9th as they start closing based on losses? **Potentially amplified by the expirations of OTM PUTs**? Maybe triggering the MOASS? + +/u/jsross left me this very interesting [comment](https://www.reddit.com/r/Superstonk/comments/p2nxcn/elliott_waves_and_the_gme_cycle_what_to_expect/h8lplcc/?context=3) which makes me more jacked about the PUTs expiring: + +>So I asked someone that used to be a market maker (supposedly) about **what all purposes those puts could serve**. Here was his response: +> +>"sorry for the delayed response. **These puts can be used to limit capital requirements by decreasing margin**." +> +>So this makes sense, actually with the whole aspect of a hidden short position and the purpose of the puts. I'm wondering if those puts satisfied some of the margin requirements for SLD. If on this SLD cycle we run up, I think our whole thesis is actually proven as much as it can be, because they effectively just lost a buttload of margin with the puts expiring. +> +>So, here is what I'm thinking. As these quarterlies expire, they essentially have less capital for margin, resulting in a buy-in as we have seen before. (I'm not entirely sure how that process works). This would be evident in the run-ups, the cycles, the purpose, etc. Why would they need margin of they closed their short position? + +Sounds like it's possible that the PUTs are used as a hedge to decrease their margin and limit their capital requirements. + +**Oof**. + +If that's true, then each futures rollover period could become more explosive as the OTM PUTs expire. It already appears to be explosive for some stocks in the basket, such as AMC, which ripped upward to $70 on June 2nd. + +Referencing from /u/broccaaa's GME OI chart once again, you can see PUTs dropping off slowly as they expire worthless. They're not opening up more of these, and we can see that because the OI was around 2,000,000 at the end of January only to drop to about 520,000 today. Maybe they are unable to open up more PUTs for this hedging purpose. Who knows. + +[https:\/\/www.reddit.com\/r\/Superstonk\/comments\/o14ccz\/the\_naked\_shorting\_scam\_in\_numbers\_part\_deux\_up\/](https://preview.redd.it/97uvcpmahzg71.png?width=2560&format=png&auto=webp&s=dbbb7b0a9c5b7514043e191bd0c6fc1d0f27db59) + +I shittily drew in the trends following July 16th expirations. As of August 11th, the following is the total OI for CALLs and PUTs. It's still not back to normal, as many PUTs won't expire until January 2022. But, it's almost there: + +|CALL OI|PUT OI|Difference| +|:-|:-|:-| +|219,564|518,759|299,195| + +With all that, I'm going to leave you with something juicy regarding CME Group. + +# 4. CME Group & Citadel + +CME Group is the "Chicago Mercantile Exchange" located in, well, Chicago. Know who else is there? + +[No Caption Needed ](https://preview.redd.it/u3gy3xgchzg71.png?width=292&format=png&auto=webp&s=aef2e35c10d337f47767606661f7558864609e48) + +These guys are a **massive derivatives marketplace**. They're currently the largest options and futures contracts exchange of any futures exchange **in the world**. CME Group is where I got the above table for the "rollover dates" of Equity Index Futures. Odds are that they are being used to trade futures (or maybe even swaps) around the "meme" stock basket. + +I came across this post by u/TheLunarnautics when scrounging around: + +[https://www.reddit.com/r/Autisticats/comments/ojrh8x/chicago\_mercantile\_exchange\_cme\_group\_and\_citadel/](https://www.reddit.com/r/Autisticats/comments/ojrh8x/chicago_mercantile_exchange_cme_group_and_citadel/) + +I don't want to steal the OPs thunder by copy/pasting their stuff. **So seriously, go read it.** But the jist of it is: + +* Citadel has a stake in CME group. About [287,159 shares of CME as of May 21st, 2021](https://fintel.io/so/us/cme/citadel-advisors-llc). +* Citadel and CME Group have a long relationship together, going back to 2008. +* CME Group and Citadel established a clearing house for Swaps that are priced electronically and competitively, by Citadel's systems. +* Citadel has a massive amount of trades going through CME Group just in Credit Default Swaps. They accounted for \~11.5% of total trading of the contracts. + +# Definitely think it's worth looking into CME Group. + +Oh yeah. [Hedgies are fukd](https://www.youtube.com/watch?v=cgap9Ok4Z4k). + +[Buying More I'm Jacked](https://preview.redd.it/dpzf95zdhzg71.png?width=603&format=png&auto=webp&s=0fbc29ea14c0913c448d14d43ac00ae47909f900) +Hi, + +I am 27 years old about to be 28 and I make 65K a year in NJ. After taxes I make $52,435.44. + +I put $1,600 a month into a brokerage account and $300 a month into a whole life policy. My total savings as of now is about 25K. It was more but the recession... Not worried. It will come back. + +I am married but we do not have kids. + +As my salary increases I try to increase the amount I put away. It is not always easy but I manage. + +Am I saving enough? Should I save more? Or should I have more fun and continue on my current track? + +I have 5K in cash. I really want a new watch but I just keep thinking about the ROI on putting it in the market at this age. + +My parents say I save a lot already. They think I should have fun and treat myself. + +What should I do? +http://query.nytimes.com/mem/archive-free/pdf?_r=2&res=9507E2D71F39E333A25755C0A9679D946196D6CF + +100 years ago, medical prices were too cheap and there was too much competition: + +"at the present time, there are in existence downtown somewhere between 1500 and 2000 lodges, societies, and benevolent associations founded mainly by the poorer class of workingmen for a double purpose; namely, social intercourse and mutual aid or benevolence." + +"Today there is scarcely an east-side workingman who is not a member of some association which has a physician to take charge of its members... the market price per head is as follows: 1 dollar per year for an unmarried member, and 3 dollars per year for each married member, including his family." + +"For these terms, he is supposed to make as many professional visits in time of sickness as he is called upon to do. + +Many laws (and 100 years) later, medical prices are too expensive and there is too little competition. +I have no clue when the “bottom” of this crash will be, but I’ve seen a lot of people saying “it’s still got a lot further to fall” for reasons such as unemployment rates are going to go up, supply will go down, companies are going out of business and so on. All of these events are certainly correct, however that is not how the stock market works. The markets to not necessarily react to events on time. The markets started their rebound from the financial crisis in March 2009, despite economic data continuing to get worse for months after that point. Investors anticipate events in the future and sometimes react accordingly. Other times they don’t. Nobody can predict a market bottom, nobody knows when it will be. +I live in HCOL area and the idea of purchasing a place would take up a large amount of my NW. It's hard to justify when rents are "fine." Even in a rent vs own calculator a lot of times the numbers say just keep renting. Have any of you NEVER owned property? Do you regret it? Thanks + +Edit: I did not expect so many thoughtful responses! You’re giving me a lot to think about and I really appreciate it. +I work in IT for a large company. My team has been understaffed for years, and management has finally gotten the ok for new positions on my team. + +I just stumbled upon a job posting, equivalent to mine, but the pay range for it is above what I make. I’m the “team lead” for my team and have been leading mostly overpaid contractors for the last couple years. I’m also the expert for our very specialized application, so anyone new is going to be trained by me. What can I do about this? + +To add to my rage at this situation, I asked to get a raise about a year ago. Ultimately, after waiting for months, I was told it wasn’t going to happen. I’m well respected at my company, and get praise from both my direct management and other teams as an integral cog who makes our machine go. I don’t see why management would OK new positions at a higher pay rate to bring in people they know nothing about our systems when the won’t equally pay someone who has been performing at a high level for the last few years. + +Looking for any suggestions on how to go forward. + +Also, sorry for any bad grammar or formatting. I’m on mobile and quite pissed at the moment. + + + +Edit: Well this post blew up more than I expected! Thank you all for the continued advice. I can’t answer everyone, so I wanted to provide more insight. I work a government job (NAF) and came in with very little experience and no degree. They took a chance on me and brought me in at a very low pay rate for IT. I was working Software Development before, but they hired me for an Application Administration job with technology I’d never touched and never heard of. I’ve wildly exceeded their expectations, to the level I was promoted up a pay band within a year and asked to lead their team. However, as some have pointed out, I’m now stuck in the cycle of small yearly raises (3% or less per year) while also dealing with management that asked way too much of an already understaffed team. I’ve been considering leaving for a while, but there are benefits I’ll lose like 1 extra day off every other week, up to 2 work from home days a week (though that may be ending soon), etc. + +Also, to answer another question I see, I make $71k, but the job posting shows a range of $75k-$95k. I was told a year ago by management I was way underpaid and they’d fix that, only to be told a couple months later that they couldn’t do anything. That is the only time I’ve asked for a raise, considering we do get yearly raises. +I have lost count at how many scam replies I've had to things I've tried to sell via Gumtree. +I get: + +1 please email me at this address instead of wanting to talk in app +- please send me your email and full name so I can make payment via PayPal (PayPal don't need my full name and you can pay in app via PayPal) +- people wanting to 'buy it for a friend/colleague/relative' and then wanting to use Western Union +- people asking me for my PayID and full name and then sending fake PayID confirmation emails + + +I know we have Marketplace, but, Marketplace isn't much better: + +Potential Buyer - 'Hi, Is This Available?' + +Seller - 'Yes' +Potential Buyer '...... tumbleweeds' + +or + +Potential Buyer - 'Where you live is too far, can you sell it to me for 50% off because I have to come to you?' + +or + +Potential Buyer - 'Can I have it for $2 and a pack of pokemon cards? I'm poor' + + +Honestly, the second hand marketplace is a nightmare. + + +Rant over. +I see a lot of people talking about the "hidden" expenses of buying a home. While many things in life are uncertain, you can still plan for the most common scenarios. I'll be listing big ticket items below that a lot of people don't budget for, the average cost, and the average life expectancy. A house is likely the most expensive purchase you will ever make so you want to do your research before hand. Two things to note before I begin: + +1. Unexpected things can happen no matter how well you plan. My 17 year old tree got knocked down during a windstorm 2 weeks after I bought my house. My fence was fairly new and should have had a decade left in it, but trees are bigger than fences. As Mr. Gump once said, "shit happens." + +2. These prices ALL vary massively. I aggregated averages from various sites, but just because the median price is 7500 doesn't mean you won't be paying between 2k and 30k. I'll explain what to look for cost wise for each item, but remember that every scenario is unique so you need to do research for your specific circumstance. Now let's get started. + +**Roof** + +This is the most expensive one for most people. The average cost of a roof is $7500 dollars. The average life expectancy is 20 years. This varies greatly based on the material it is made out of, the size, and the climate you are in. The best way to get the most out of your roof is to keep it clean of things like moss build-up. I bought a 17 year old home. If the roof was the original I'd be looking at a huge cost in the not so distant future. Luckily mine was almost brand new, which is a sigh of relief for any homeowner. + +**Furnace** + +The average cost of a furnace is $3000 dollars. The average life expectancy is 18 years. This varies based on the brand you have and the climate you are in. The best way to get the most out of your furnace is to change filters on time and not use it when it's not needed. Unlike my roof, my furnace was an original with the house. Knowing it was on it's last years of life I upped my emergency fund by a few thousand dollars for when the sucker died. (RIP 2016, made it 21 years!) + +**Central Air** + +The average cost of a central air unit is $4000 dollars. The average life expectancy is 18 years. This varies based on the brand you have, the size, and the climate you are in. Someone buying a unit for a 1200sq foot home in Maine is naturally going to spend less than someone buying for a 2500 sq foot home in Arizona. (Assuming people in Maine even have them?) The best way to get the most out of your AC is to not use it when it's not needed. I had same story with AC unit as Furnace. They died about 6 months apart, but since I'd been planning for that for a few years it wasn't too devastating of a hit to me. + +**Wood Fence** + +The average cost of a wooden fence is $25 dollars per sq ft. The average life expectancy is 12 years. This quite a bit based on the material you use and the climate. Also if you don't like wood the cost for other materials will change a lot. This is the first item on the list that I will say you can save money on by doing the labor yourself. Without expertise you don't want to mess with building a roof or installing an AC or furnace. Fences aren't that bad though if you're relatively handy and you can cut the cost on half. + +**Washer/Dryer** + +The average cost of a Washers and Dryers is $500 dollars each. The average life expectancy is 10 years. This varies based on the brand and size. If you want a behemoth washer that is also basically a computer you'll be paying a lot more than a normal sized with with 2 knobs on it for heat and time. Make sure to clear the damn lint trap for your dryer! + +**Fridge** + +The average cost of a refrigerator is $1100 dollars. The average life expectancy is 14 years. This varies based on the brand and size. Barring something obvious like leaving it open for 16 weeks in a row there isn't really a way to keep it alive longer. Just make sure you go catch it if it's running. + +**Deck Repair** + +The average cost of deck repair is $1500. The average life expectancy is 15 years. This varies based on the size of the deck and the extent of repairs needed. This is also one that you can save a lot of money if you do it yourself. As for a new deck... you'll have to price that out yourself because it has a wider range than pretty much any of the other items based on size and materials. + +**Sprinkler System** + +The average cost of a new sprinkler system is $3000. The average life expectancy is 15 years if you don't go cheapo. This varies based on the size of the yard, climate, and how many installations you want. Repairs to a system can be 100-1000 dollars based on what is damage and where. + +**Hot Water Heater** + +Last item! The average cost of a hot water heater is $1500 dollars. The average life expectancy is 10 years. This varies based on the brand and size. A good way to expand the life of a hot water heater is to not drive your car into it like my cousin once did. (He did it to his own, not mine thankfully.) + +**Conclusion** + +So, these are all the items my realtor ran through with me. Hope it helps at least someone out there! + +In the 8 years I've been here I've had expected replacements to Hot Water, AC, furnace, Washer, and Dryer. I've had unexpected replacements to the fence. Everything else is still within it's normal life span so this list has been great for me minus one stupid wind storm. +For anyone who has been here a while you may have seen this post already, but this was requested so am reposting it and figured some more new people in the sub may find this helps! The 10 ways to find stocks is does not mean use their analysis, because for examples like Ausbiz they are good for finding stocks but I wouldn't trust any analysis by their guests. + +&#x200B; + +1. Ausbiz the call. They discuss 10 stocks everyday and its free to view and watch, they do 10 viewer picks everyday ranging from penny stocks to large companies. They recently discussed AVA for example, so they are open to anything. They also give a buy/hold/sell recommendation based on what they think. This can be a good starting point for building up a list of companies to look at. They also have a portfolio that is free to look at which they include stocks if both analysts agree that the stock is a buy. There is other stuff on Ausbiz you can view and you can search up a company to find any articles or if they’ve discussed it. + +2. Go through the asx300 or 500 and filter out sector and then do basic research on the remaining ones This sounds like a long grindy process but is actually quite quick if you have an idea for what you’re looking for. Let’s say you wanna avoid financials then you can just scroll through companies and have a chart on another monitor/tab and list down the remaining stocks that have a nice chart or market cap or whatever that you’re looking for. This process is even quicker if you’re looking for a company in a particular sector. + +3. Use stock screeners to filter out any factors you want, this can include stocks that pay dividends, stocks with a certain roe, stocks with a market cap under 200mill but make a profit and so on. Trading view are a website which I use when I screen stocks, however I very rarely use this method as one bad year can ruin a lot of filters and cause a good stock to not pop up. This strategy alone could be a whole post with what filters to use, how many to use and so on. This all depends on your strategy, risk tolerance and other factors so if you are going to use stock screeners you will need to test quite a few ideas out before you find what you’re comfortable with. + +4. Use sector maps, commsec for example has sector maps for large medium and small caps, these are often a good starting point. This is really useful if you want to know who the biggest companies in a certain sector are, as they are sized by market cap, and it also allows you to quickly find smaller companies which may have more potential. It also means you can quickly graph the companies and see if any in a sector are going against the trend, which could result in cheap companies or overvalued companies. You can then look up these stocks on the ASX website and find competitors or similar companies if you don’t want to go through the whole sector map. ASX compare them through market cap and a few other factors such as p/e which you can look at. + +5. Use reddit if you dare, not one I'd recommend but in a bull market almost anything works as it's easy to predict a stock if the majority are going up. That's how I did retail picks for last earnings season as it was evident early on retail was doing extremely well and not priced in unlike this season. If you are going to use reddit at least make sure you understand the company, because almost every week for the past 10 months I’ve seen people buy post pump and then comment on a post trying to understand why they got left bag holding. Make sure you have a strategy, just because one pick worked for you don’t presume the next 3 will. This shouldn’t need to be explained but as I said there’s constantly people left bag holding and stocks just vanish in getting mentioned. NZS is a perfect example and so is BRN, when BRN started crashing down nobody mentioned them and said how stupid people were for buying. Now all of a sudden the people holding BRN have all come back out, I’m not saying this to make fun of BRN I’m just using them as an example that companies can come as quick as they go. AVA is another example off the top of my head. + +6. Look at the ASX announcements page and check out companies that have released earnings, gives you an easy start to reading their results and understanding the company. This one isn’t very efficient and is not going to find you any gems unless you’re doing day trading on positive announcements/results. I tried this when I first started investing and found it was too hard to keep up with which announcements meant something and which sounded good but never affected the share price. Its easier just to follow the herd and make sure you get out without getting stuck bag holding. + +7. Use earnings calendars to find companies and then do research on them from there. This is how I found DDR from last earnings season, although I didn't post about them because I was unsure as I didn’t understand the business. This is a great strategy if you’re playing the earnings game and are willing to take some risk, the issue with this strategy is that you’re going off purely results and you need to force yourself not to get stuck to one stock unless you’re comfortable holding it for a long time. Earnings season is coming up in March and now is a great time to start scouting out companies which you may want to buy just before results. Companies also usually follow a short positive trend if good results and vice versa, this sounds like common sense but its important to remember. You may now be wondering, well why not just buy good companies post earnings? Less risk=less reward, its certainly a good and common strategy but it just means you miss the initial rocket if there is one. + +8. If you know you want a stock in a certain sector such as tech then look up tech companies through Google and go to news and often, you'll see sites such as motley fool and others mention tech stocks, now obviously don’t put much value into their analysis but it's a good start to finding stocks. This works although once again not the greatest because these websites often will post a list of companies that they think could do well without giving away too much info, but as I said this a good starting point if you’re new and don’t know how to find many companies. Obviously, you can’t do this every day because articles aren’t out that often so if you’re going to do this its best when one company is already getting hyped up such as when APT was booming and the majority of BNPL was following. + +9. My personal favourite, long term just organise stocks you come across into categories or sectors. After a few months you'll have quite a few watchlists with varying stocks. This gives the benefit of having everything organised and if you know travel is going to do well for example then you can quickly go over to your travel watchlist, pick a few stocks add it into a 'portfolio potential' list and this gives you a good starting point to do analysis. If you like the company, you keep it there and if you don't you put it back into whatever category it was in or delete it completely. This sounds straight forward, and it is, there’s no rocket science here. The major issue with it is that you need to keep up with macro trends and understand how sectors are doing and what their short/medium term future looks like. Tech is a good example of this as it was getting hyped the shit out of like a month ago, and now people aren’t talking about it much because its starting to pull back a bit. Everyone was saying Nasdaq is a great investment and blah blah, yet on a pullback it doesn’t get mentioned because people wanna look correct in the short term. + +10. Market index have an excel sheet they give to anyone who puts their email in with companies that pay a certain dividend and a few other features. This is mainly good for large caps only. + +You could also use a mix of all the above and figure out what works for you, but either way none of these strategies are guaranteed to work and some cant be relied on constantly over a long period. I personally do earnings calender and post earnings put stocks into different watchlists and analyse companies once the post earnings momentum dies down, but this is just me personally. You will notice there isn’t much TA in this post, but finding stocks through TA is not my specialty, so hopefully this helps as a good starting point. +To start with, I know some of you don’t like reading long posts so ill do the summary at the start in one sentence…Don’t buy every red day because you aren’t going to sell every green day. That is all, but if you want more detail well lets have a look at why. Now logically just because the market has a red day doesn’t mean everything is undervalued and cheap, much like when the market has a green day nobody panics and goes oh shit! Stocks are up 1-2%, quick sell sell sell!! Now im not talking about penny stocks here which crash 40% in one day, I mean large companies and the XJO. + +The first example to start with is the XJO and its probably the clearest and easiest reason to see why every dip is not a buying opportunity. Lets pretend you have watched the market the past year and you were looking to ‘buy the dip’, so presumably a red day. Well you would of done perfectly fine just buying 1 year ago and waiting and up around 20%, or you could of bought the month after when November had 5 great green days in a row and still be up about 15%... Or you could of waited until there was a string of atleast 3 red days and you would of got an entry point higher than both of those times if you bought in every time it dips for 3 days. Because I like to do weird comparisons, lets use skittles. If someone offers you money every week you aren’t going to keep saying no incase of money laundering one week and waiting until they get busted and then the next group starts offering you money, you are just going to take the money every week, THIS IS THE SAME! If your stock was cheap at $15 its not magically cheap still at $25 just because it fell a little bit from $30, same as if the stock was overvalued at $15, it is not undervalued all of a sudden at $23 because it fell from $30. + +&#x200B; + +https://preview.redd.it/amzv1j6kxim71.png?width=602&format=png&auto=webp&s=724c5ced7a4c30eb2a1cfe89c3d4f56f806531f9 + +But lets look at individual stocks, to start with I’m going to pick the 2 biggest on the XJO because its bias but it proves my point some more. We will start with CBA who this time last year were around $67 and are now $100, which is a 50% gain roughly. Now if you thought CBA was overvalued this time last year because of COVID, low interest rates and you thought the housing thing was going to be short lived, then fundamentally its still overvalued even on these red days in between. For example, in June it went from approx. $106 to under $100, no point screaming buy the dip because if it was overvalued last year…well you get the point. If you looked at CBA again recently though and thought things had fundamentally changed and there were worth $100 a share, then buying at $100 a share should be the goal, not to wait for a random big red day to buy at and ignore the price. To go back to the XJO this is the same thing, if you thought most stocks were overvalued 1 year ago, 6 months ago and 3 months ago then a 2% dip should not have any impact on your thinking. + +&#x200B; + +https://preview.redd.it/7fm7jb2lxim71.png?width=567&format=png&auto=webp&s=e9a971aa176b4b9aac52e6b1967d6bb410cf6c74 + +Next is CSL, who have had quite a volatile past year by their standards and have had some issues in terms of expectations. Some analysts think they will struggle to have any growth over the upcoming years and some still think it’s going to do fine because it’s a giant monopoly which historically has done great. CSL highlight perfectly why you shouldn’t just see every red day as a buying opportunity, because as you can see there has been plenty and if you just stuck to choosing a price you liked and had some conviction you would of done perfectly fine presuming you didn’t buy at $320. Let’s say you were watching them fly up to $320 late last year and were like well I think they’re only worth $270 but I really want some, so you waited for the 2 red days following and bought in around $300, well you would have had a perfect chance to buy them at $270 with some patience. What a stock or the market does day to day should not scream to you whether or not to buy the dip and sell the rip, you should find some price your happy with and stick to it. If you thought CSL was worth $320 for example, well it appears you were wrong in hindsight, but it also means you have had plenty of buying opportunities and waiting for another big dip would have had a big opportunity cost. + + + + +https://preview.redd.it/j303eswlxim71.png?width=554&format=png&auto=webp&s=37d8dec6f564a4fd6bfb36fb9ca98c072d9cd4bc + +This brings me on to probably the most important point which is opportunity cost. As Peter Lynch likes to say, more people have lost money waiting for a crash then they ever did from a crash. Now this isn’t possible if you don’t include opportunity cost, but if you include opportunity cost which is very big and real, then you realise trying to time dips and rips within the market is not investing…its just trading or gambling. I’m running out of ways to say the same thing but if you draw a diagonal line going up and you ask someone to pick a point on the line in hindsight they want, they will pick the bottom where you started, not at some ripple where it wasn’t straight up half way along. The same is for the markets, if you think they are overvalued then write down why and stick to it until it changes, just like if you think they are undervalued don’t wait for some silly 2% and then swap sides because it makes no sense. This is the same for a stock, for me personally its PME. I thought they were overvalued pre results at $55 and they ripped after results, but I didn’t buy because I think $40 is more of a fair value to get back in. Until you learn how to do basic stock analysis and figure out a rough price for a stock then any dip may make the stock look cheap, but in most cases with boomer stocks you’re better off just buying in if you want to hold long term and then just waiting. + +One thing I want to touch on quickly is Dollar Cost Averaging (DCA), which is quite popular for people bag holding. I personally don’t mind this strategy, its not one I use, but I can understand why people use it. If you are holding a stock for say 10+years and you aren’t sure how to value it then buying in once a month or every 3 months is great, because long term presuming the company is great it will slowly go up and when big dips do happen you will get the benefit without panicking every 2 seconds on whether you should buy because it’s a red day. This is possible with dozens of large companies from the the big 4, MQG, BHP, WPL, CSL, COH, PME, tech stocks and so on. The issue here is you need to pick a quality stock obviously, because a pile of shit is still a pile of shit in 10 years, it will just be smaller and worth less if it survives that long. + +Another summary with new examples! If you are investing long term a day or week of small red is not a buying opportunity or some great stock sale because stocks were lower 1 month ago and nobody was screaming buy then…yet because the stock is higher but red it is a buy? You wouldn’t buy a quarter pounder meal for $25 because it has a 50% sale sign next to it when you know its only worth $10, you would just buy something else or wait for it to hit $10. I’m struggling to figure out how to type this but if the market wasn’t undervalued 1 month ago at lower levels, its not magically undervalued now at higher levels because it’s a red day? That just doesn’t make sense, but ramble over and thankyou for coming to my TedTalk! + +Also, as market recaps have died, I thought I would start doing quotes again but at the end of these posts! + “It is important to draw wisdom from many different places. If we take it from only one place it becomes rigid and stale.” -Uncle Iroh +I started investing a few years back. I am confused as to when should I actually spend on anything like buying car or maybe gift myself an expensive watch or other luxuries. +I don’t necessarily hold back my life to invest but at the same time I don’t try to improve lifestyle and add materialistic depreciating assets. +But also, I don’t want to spend too much of my savings and loose compounding effect. +So, I am looking forward to any rule or something you guys have figured to save as well as improve lifestyle. +My land lord is selling his home. He wants to retire. He told me he plans to put the home on the market in April but if I was interested to let him know and I'd get first dibs. I told him I was and he told me to talk to a realtor and see if they can get me in contact with a lender. + +So far I have no realtor but got a pre approval going on. I been pre approved for his range of asking $160k-$170k (pre-approved for 160). I also had the home inspected. Major issues were the dryer vent needs to be fixed, water heater will need replacing soon and I will need to get the septic serviced. Roof had some shingles missing and Hvac was replaced in 2018. + +Homes in my area ( South East Georgia) for the same Sq ft can go for $150k-$190k. I know the market is hot and others are telling me compared to what is listed its a pretty good deal. I'm comfortable with putting 10% down and so far have a 4.6% interest rate. I'm sure he knows the home will sell quick if he puts it on the market but he also will be shelling out money to do so instead of just selling it to me. + + +My inspector gave me his wifes info. I looked her up she been in real estate for 18 yrs. I'm thinking of giving her a call but not knowledgeable on what exactly realtors do besides show homes which I don't need to be shown one. + + +What are my next steps besides wait on my pre-approval application to send me more minor steps to complete? How do I negotiate to getting some credit for the repairs the home will need in the near future? Or should I just bite the bullet hire an realtor and pay a little extra. + + +Thank you for any help. +If you read anything in the next 24 hours this is worth your time. + +For a project now sitting at 10 days old and 400k MC I am still super hyped about its future, yes the wider market has crashed so all projects are healing but this one still seems to be doing well by supporting its holders through passive daily gains of approximately 3%. Why is this? The awesome tokenomics in place redistributing 7% of the tx value per tx to bag holders (another 5% to the locked LP). This mechanic alone has been keeping this project holders staying strong at approximately 1000 holders as of this post. + +People are hodling this for another reason….this projects incredible future. The devs and foresite for this project dwarfs every other project in this subreddit. Once you read the whitepaper and understand exactly what this project is about you will understand that it is not going anywhere anytime soon and in fact will be a monster in the months to come. I wouldn't be surprised if this project hits 100M market cap in 3 months (given wider market recovery as well). + +The project has a number of ambitious products and community services this space desperately needs. Check these out + +Community + +The project is running weekly NFT charity events whereby Healing Potion will partner with another BSC project or identity in the BSC space to collaborate on a pixel art NFT to sell to their collective communities. The NFT is a 1:1 for that particular event with all proceeds being donated to charity! +The devs are running a weekly podcast for the moonshot space called Healing Potion Podcast where they chat about the weeks past moonshot opportunities and possible scams. This is an awesome idea and something that this community desperately needs, nobody is covering this space or looking out for the noobs! +Future down the track the team plan to sell their own Healing Potion/Fantasy/Potion themed NFTs to the community with funds being donated to upcoming artists or production houses! For example, there is talk of donating the release NFT sales to the producer of the Astartes Project! How awesome is that!! + +Products + +The team are currently working on a charting website and a dynamic price bot. It is day 10?!? If that does not show drive I do not know what does. They have some unique ideas about this website and bot that we will have to wait and see, but I hear it's going to supercede bogged and poocoin! +Their IDO launch platform will follow their charting website integrating the charting and launch platform for convenience. This is a fantastic idea. They also want to offer verified launches by inhouse auditing and verification of devs so we can all be protected from scams! +They are going to create a multidex platform combining the usual dex with a NFT marketplace. They call it the Cauldon project or “multidex” +There is talk of a game further down the track but I suspect that will be some time away + +I've been in this space for sometime now and I can honestly say that there is nothing else ambitious as this project in this space. It's awesome that they are combining pixel fantasy with this powerful future, this can only lead to success and phenomenal growth opportunities for all those who are involved. + +If anyone wants more info the soft doxxed devs are doing and AMA tomorrow at 7pm EST 19/05/2021. + +Project Information + +🧪1Q HPPOT’s +🧪30% Burnt to dead address +🧪400k MC\~ +🧪1000 current holders +🧪APY \~270% +🧪Soft Doxxed Devs +🧪Contract Renounced +🧪4 year LP lock +🧪12 years development experience +🧪Team across the globe +🧪Whitebit proposal in discussions + +Thanks for listening and hope to see you on the quest for wealth and regeneration of losses as one of us! + +Web: [https://www.healingpot.info/](https://www.healingpot.info/) +TG: [https://t.me/healingpot](https://t.me/healingpot) +Whitepaper: [https://supermoon.gitbook.io/healing-potion/](https://supermoon.gitbook.io/healing-potion/) +Pretty much what the title says. I just moved into West Houston area and bought a brand new house as primary but so far the change and the city has not been good for us so we have been thinking on the possibility to move back to our previous town in a year or so if things don't change and we can't get used to this new life. +I would like to keep this house as investment if possible and rent it. Depending on the house but rents in the neighborhood are in the range of $2. 3k - $3.3k/month. I would need to rent my house around $2.6k to barely cover mortgage, and scrow expenses. I see currently houses like mine are renting on the $3k line so maybe there is a chance. + +So like my question says, there are much bigger and better houses by this area that are posted at $4k, $5k, $6k and even more, do these houses get actually rented at that price? That seems pretty expensive to me honestly and can't see people paying that much for rent, so just want to get opinion from the experts. + +Thanks. +My essential stats: + +- 47m +- Wife, 2 kids (both under 10) +- $30mm NW ($2mm Home Equity, $4mm in cash, $24mm in diversified stocks, private equity funds, etc.) +- Current employed and make around $5mm a year. +- Current annual spending: $600K a year on housing, vacations, private schools, etc +- We live in one of the most expensive zip codes in the country on west coast + +I think about retiring often, especially when work is stressful. I work at a very high pressure company. Each year is a struggle and while i have significant tenure at the company, i always feel under the gun to produce or risk being replaced by a younger, more ambitious version of myself. I am new to this community but have been thinking about my own version of FatFIRE for a long time. + +I would appreciate advice on a few topics. + +1) How do I stop worrying that I “won’t have enough money”? I know this sounds ridiculous but it is really hard to make myself believe that I can support myself and my family on what i have in the bank for the long term. I don’t want to reduce my annual spending in retirement and i want to feel like even if the economy tanks and the market pulls back that I have enough to live well forever. I have a mental block on this topic. for some reason though. I always feel like i need “a little more”. How have. others dealt with this feeling? + +2) My job is very stressful, but i could power through for another 5-7 years i think. I think if i did so, i could easily retire with a $50mm NW. Thoughts on whether this is really worth pursuing? I don’t think my lifestyle would change significantly, but i almost feel like i owe it to my family to make this money if i can. It could make a difference for my family for generations to come. + +3) How have others figured out what to do next? I don’t golf, and while i have been very charitable over the years, i am not really passionate about a specific cause that I could throw my time into. I love my family very much, so i could spend more time with them. That being said, i think i need more of a purpose to make my life feel meaningful. Thoughts from anyone on how they figured out what to do with their time? + +4) Does anyone know of any good books for someone in my net worth range to read on these topics? I have a private wealth advisor at one of the big shops but he is not really helpful beyond the nuts and bolts of my portfolio. + +Thanks in advance +what is driving this surge in CAD (especially relative to USD) lately? just increased oil prices? canada also has a lot of forest, maybe lumber is a factor? we're at 5-year low in the USDCAD (1.21), looks like the next stop may be 1.10? + +anyone have any predictions for how this will play out? the lowest in recent memory is 0.96, back in 2007. + +how will this affect canadian companies like suncor, BAM, enbridge, and CNR? there doesn't appear to be much of a relationship between the TSX and USDCAD charts. + +i'm excited to start traveling soon and take advantage of my valuable loonies! +I live in the US, my family in Europe. + +My dad had a regular operation a few weeks ago, I stayed in touch and spoke every day etc. Then this morning...a complication. He's in hospital still, awaiting an operation. My mom was in bits, my brother shouldering a load, and I miss my dad and would like to just..be there. + +Am on a red-eye tonight, and will be back in the old country tomorrow afternoon. Budget in tact. Flights booked, car rented. + +You can't put on price on things like this, and a few years ago..5 in fact - this would have been a struggle - but this is an emergency that an emergency fund is made for...and I have this sub to thank for it. + +Edit: Holy shit balls. This blew up between me posting and getting to the airport + +Thanks for the gold...whoever it was! You are all good people. + +If you don’t have an EF. Start today. $10 stuffed in a drawer, $100 that you don’t take out from your checking account, $1000 in a savings account, $50K in a savings account and a credit card you can pay off + +It doesn’t matter, getting on top of money and being able to be in the situation where you can drop everything and do what needs done is priceless. If you’re married and have a partner on the same page...all the better (kudos to my wife - she’s shouldering our 2 year old for a week without me around) + +An emergency fund is freedom. And it’s a beautiful thing to have. +I had abandoned dividend investing for some time in search of the home run. ARKK is one that comes to mind. Yesterday I dumped $7k of my IRA into JEPI. I’m 34. You might say I’m crazy to leave growth on the table, but hear me out. I have a pension. I own my home. I have a 401k that’s maxed out yearly and in some very aggressive funds. I’m happy with 7% yield with a little growth. If I put half of my yearly contribution into a good dividend fund like JEPI or another, I’ll be into thousands of dollars in monthly dividend payments. I’m tired of the stress and have decided to let the pros who manage my 401k make the calls. +I work for a provider of store brand credit cards (think Victoria's Secret, Banana Republic, etc.). The *average* time it takes a customer to pay off a *single* *purchase* is **six years**. And these are cards with an APR of 29.99% typically. + I just found this token $PINKPANDA through a trader group I am in, a bunch of people from the community jumped in early and started shilling it everywhere, Youtube, Twitter, Insta, Twitch. Bags are super distributed and there are many people working to get PINKPANDA to the moon. The team has delivered on all of their promises and launched a full mobile app on iOS after only 1 week (Android app coming very soon)! It’s currently at $7m market cap and people are just starting to take notice. I think this might be the moonshot I’ve been searching for, for the last few months. + +PinkPanda is catching up to some big names. Influencers are going crazy over it. Moneytalk, FinanceBull, Stiggybuys, Natethewinner… and more will join in the hype. There are rumors that a collab with Tyler Hill is already in the works. + +Their founder just did a live interview earlier today with a big streamer and it’s obvious this is a legit project. I am starting to believe this can get as big as Safemoon. Their codebase is actually the same as safemoon but with some improvements like using Pancakeswap v2 instead of v1, and also the project has a use case! + +This is a description from the admins: + +“PINKPANDA is creating a non-custodial, fully on-chain, mobile-first decentralized exchange (DEX) that supports up to 5x margin/leverage trading--all with a seamless, centralized-exchange feel. We will lift up the BSC ecosystem and build the tools it needs to GROW. We’re also \*donating\* to cancer charities, with community voting to determine causes in the future. Our mobile App V1 is out on IOS already.” + +TOKENOMICS + +Total Supply + +\-10% tax on every transaction + +\-5% distributed to holders + +\-5% locked into the LP pool, REWARDS for holders over time! + +The website is pinkpanda.finance and their TG is PinkPandaDeFi + +And here are all the social accounts: solo.to/pinkpandadefi + +The team has applied to CMC and is rolling out serious marketing. It’s super EARLY for this gem. + +Check out the telegram, super cool and committed community - they are at 3400 members already. They talk a lot about WEN BAMBOO, LOL + +t.me/PinkPandaDefi + +Contract Address: 0x631e1e455019c359b939fe214edc761d36bf6ad6 + +(careful there are 2 copycat contracts on poocoin already, make sure you got the right contract!) + +The group is super friendly, everyone is really excited about the project. It is at over 3000 holders already with a TON of room to grow. + +I have loaded up my bags and am ready for the ride! +Greetings Apes! + +I'm not sure very many of you need this DD as I assume everyone at this point knows the thesis and has done their research. All of you have proven your mettle and diamond hands for months. + +https://preview.redd.it/blytmjxs3yl71.png?width=589&format=png&auto=webp&s=624cc21a88d65666362254bc3852391144d14768 + +I feel as someone that contributes in my own small way to this community that I should express my feelings toward some rumblings I have been hearing... + +As many of you have become aware there are cycles that effect the price of GME as more and more data becomes available to us with the passage of time, we are beginning to realize these. + +Retail should not attempt to trade these cycles for two reasons + +1. Selling shares reduces the potential effect of each run +2. While we have some evidence of these cycles we have zero knowledge of their reliability. Many times throughout this we have been surprised by SHFs ability to manipulate breakouts and expected movement. + +But with the idea of swaps and other derivatives operating on cycles greed can take hold as long term profits become ignored in order to profit off short-term movement. + +**This is not the way.** + +**MOASS only works because apes buy and hold** + +We may not do a lot to effect price discovery in the short term honestly retails cash injections are not really noticeable on short time frames. + +But the effects of the strategy employed **separately** by hundreds of thousands of apes is what forces MMs and SHFs alike into terrible positions week after week. Every share bought and held regardless of cost basis is another cut added to the thousands that will eventually bleed them dry. + +I know some of these cycles seem obvious but **the underlying causes are not yet fully understood**. However, greed is a strong motivator, and a definitive cycle encourages trading regardless of ideologies. + +**Remember that shares of GME represent a piece of a company that is carrying a short interest of 200+% and are part of a float that has over 300+% ownership. These shares carry potential energy unlike any stock that has traded before it, to trade these shares openly on the markets presents the short hedge funds a way out of what is currently an inescapable position.** + +Since technical analysis is my thing let me show you in the best way's I can prove the buy & hold strategy is effective and guarantees MOASS. + +# The Foundation + +Retails buy and holding present a difficult challenge to the SHFs and MMs alike by creating an almost impenetrable wall that they can't break though. That's right exponential floor guy was right...but maybe a little rigid in his analysis of what this meant. + +[An example of exponentially increasing price with every cycle](https://preview.redd.it/mbe21obojxl71.png?width=2454&format=png&auto=webp&s=0723dac584f19a06c71e96c63dc5e23231a0978a) + +This also gives a very good example of when the last time apes released shares into the market. Ever since the flash crash in march there has been little to no selling by retail. + +This theory is very simple **selling shares reduces the potential growth of each cycle**. + +Another visible effect of holding is that it reduces the amount of downward pressure that can be applied to the stock. So even though billions of dollars have been spent each time to drive the price down the lowest possible price keeps getting higher. + +[Consistently Higher Lows](https://preview.redd.it/twy38f0rrxl71.png?width=2460&format=png&auto=webp&s=0a1abebeb953b1be78e70c8daa1400956ed51502) + +# Illiquidity + +Another effect of buy and hold is that over time the stock becomes very illiquid. The short hedge funds continue to pump synthetic shares into GME's float and apes continue to buy them. Not only effectively reducing the number of tradeable shares but also forcing short hedge funds to create more synthetics in order to cover previous FTDs. + +These compounding losses worsen over time as long as the floor (shown above) continues to rise the constant losses on the short positions compound exponentially. + +Additionally the constant hammering of the bid in order to suppress day-to-day price action increases the spread between bid/ask. + +Meaning, when SHFs finally have to cover their cycle of price suppression that covering raises the price much much faster. Making the next cycle even more difficult to suppress. + +[Fucked Hedge Funds on the 1D timescale](https://preview.redd.it/r0nt761dvxl71.png?width=2460&format=png&auto=webp&s=de58f84186d92232b599821719b3ffeb814efe20) + +# A Little proof the shorts haven't covered + +Something new and old apes alike ask and probably the best theory to come out of that cesspool of paper hands over at meltdown. + +How do we know they didn't cover in January? + +Well maybe this helps explain it. + +[Representation of the \\"original\\" GME short position on long-term OBV. ](https://preview.redd.it/80ru50sc2yl71.png?width=2459&format=png&auto=webp&s=bddbd66f36eb1b33131b2569e960db4b27aaaefc) + +# Options + +I have not, nor will I ever encourage apes to participate in options on GME, unless they understand the risk involved. However, this is the only solution that I see that could possible satiate the inevitable greed of attempting to trade these cycles without sacrificing the floor apes have so diligently built. Nobody was ever hurt by a little education. + +So I think it's best to cover the advantages and disadvantages, best use case for GME, and some additional material. So apes can begin to educate themselves on this financial derivative. + +As always I consider better informed apes stronger apes. + +**Why not options?** + +Well for most people, especially inexperienced traders, the risk of options far outweighs the rewards. Losing money on these contracts essentially shovels hard earned money into the hands of Market Makers. Lack of understanding of options ultimately will lose people that do not understand them money. + +**Why Options?** + +Options present a contractual ownership in the underlying. They are a leveraged position meaning they represent control of 100 shares of the underlying per contract. As retail this can be beneficial as you can leverage a much larger number of shares than you can afford to buy at market with less capital exposure. + +**Best use case:** + +Options Yolo's of old are ineffective on GME. While we know the stock will go up it has been traditionally very difficult to predict exactly when. This is the primary reason so many apes have lost so much money on GME options and essentially why their use is frowned upon. + +The best use case for calls on GameStop are near or [in the money calls](https://www.investopedia.com/terms/i/inthemoney.asp) with far out [expirations](https://www.investopedia.com/terms/e/expirationdate.asp) (at least quarterly or greater). + +These give plenty of time for the price to move favorably, If the price moves against you you will suffer less in losses than you would if you owned the underlying. + +The most valuable part of a GME contract is without a doubt... + +*theta-* The term theta refers to the rate of decline in the value of an option due to the passage of time. It can also be referred to as the time decay of an option. This means an option loses value as time moves closer to its maturity, as long as everything is held constant. Theta is generally expressed as a negative number and can be thought of as the amount by which an option's value declines every day. + +The primary reason "cheaper" contracts are so affordable is that they have very little theta left and expire in a short time period. These options are cheaper because the risk present to the seller of the contract is lower. + +Meaning it is **more likely to lose you money.** + +**Educational Sources for learning more:** + +I highly suggest that anybody interested in options reads through these articles at a **minimum** and downloads a **paper-trading platform** with options like TDA's Think or Swim and practice options trading before ever considering using real capital on these risky investment vehicles. + +[Basic Guide to Options](https://www.investopedia.com/options-basics-tutorial-4583012) + +[Options Strategies for beginners](https://www.investopedia.com/articles/active-trading/040915/guide-option-trading-strategies-beginners.asp) + +[Options Greeks and what they mean](https://www.investopedia.com/trading/using-the-greeks-to-understand-options/) + +&#x200B; + +# Conclusion + +While the short interest on GameStop basically guarantees a squeeze the parties involved in shorting it have Trillions in assets. They can and will do everything in their considerable power to drive the price down on GME and maneuver themselves into a position that is more equitable. + +Buy & Hold prevents this buy constantly increasing the losses they sustain on their short positions they are left in a spot where they cannot get out from under them. + +**This is a siege not a battle, and they are starving.** + +https://preview.redd.it/jg8k6vomwxl71.png?width=630&format=png&auto=webp&s=5fe14811cc2c0890a162e3e4f7bdd5b3db43c7ec + +**One final note:** + +Ronald Wayne was one of the original founders of Apple, twelve days later, he sold his 10% share of the new company back to Jobs and Wozniak for US$800, and one year later accepted a final US$1,500 to forfeit any potential future claims against the newly incorporated Apple, totaling US$2,300. + +That stake would have been worth $264B as of market close Friday... + +Don't be a fucking Ronald... + +[Paper-handed bitch](https://preview.redd.it/d8vnqq05byl71.png?width=407&format=png&auto=webp&s=a03b856d9df31d20fc873fd4aa553a97a8a9b29b) + +Buy & Hodl + +&#x200B; + +If you want to see more information on this subject matter feel free to join me in the : + +If you missed my [Discussion on the GameStop thesis with Tradespotting check it out here](https://www.youtube.com/watch?v=cV5tyCAvdKk&list=PLLZAlefVs0gJCEi2OIKO1xdEnk3x1SMT5&index=3) + +Daily Live charting (always under my profile [u/gherkinit](https://www.reddit.com/u/gherkinit/)) from 8:45am - 4pm EDT on trading days + +Join me, on my [YouTube Live Stream](https://www.youtube.com/c/PickleFinancial) from 9am - 4pm EDT on trading days\* + +Check out the [Discord](https://discord.gg/BGmjnrvHnw) for more stuff with fellow apes + +**As always thanks for following along.** + +🦍❤️ + +\- Gherkinit + +**Disclaimer** + +*\* Although my profession is day trading, I in no way endorse day-trading of GME not only does it present significant risk, it can delay the squeeze. If are one of the people that use this information to day trade this stock, I hope you sell at resistance then it turns around and gaps up to $500. :)* + +*\*My YouTube channel is "monetized" if that is something you are uncomfortable with, I understand, while I wouldn't say I profit greatly from the views, I do suggest you use ad-block when viewing it if you feel so compelled.* *My intention is simply benefit this community. For those that find value in and feel compelled to reward my work, I thank you. For those that do not I encourage you to enjoy the content. As always this information is intended to be free to everyone.* + +\**This is not Financial advice. The ideas and opinions expressed here are for educational and entertainment purposes only.* + +\* *No position is worth your life and debt can always be repaid. Please if you need help reach out this community is here for you. Also the NSPL Phone: 800-273-8255 Hours: Available 24 hours. Languages: English, Spanish.* [*Learn more*](https://suicidepreventionlifeline.org/) +My father passed away last year and i just received my portion of his estate and it was way more than i ever expected. The people closest to me keep suggesting i invest in buying a home, but I’m only 22 and i don’t even know where i would want to live if i bought a house. I definitely want to pay off my car but i have no idea where to go from there. + +If possible I’d like to make this money grow, but i have no idea how to do that. Does anyone have any suggestions? + **The** **US** **Bond** **market** **is** **now** **down** **8.7**% **from** **its** **high** **in** **August** **2020**, **the** **largest** **correction** **we've** **seen** **in** **the** **last** **25** **years**. **The** **10-Year** **Treasury** **yield** **has** **moved** **from** **0.55**% **up** **to** **2.54**% **during** **this** **time**. + +Charting via [@ycharts](https://twitter.com/ycharts) and info from https://twitter.com/charliebilello/status/1511698694546116609?s=20&t=\_\_eNUVGaa1d6GxwHx00wwA +https://ir.citi.com/_tpHpW8MfaZ1QXwGmP1JGMGXXI95qXm3IMJzUJScLMb6XIjtOls6EbDehXMR3B_o9Opi7mdc5tQ%3D + +US banking giant Citi has authored a new report which suggests bitcoin could become “an international trade currency” as it evolves. + +The report, entitled “Bitcoin: At the Tipping Point”, charts the evolution of bitcoin from a form of payment to its current status as a store of value. The authors forecast that bitcoin’s core properties combined with its global reach and neutrality could see it morph into the “currency of choice” for international trade in around seven years. + +“Perceptions about what makes bitcoin important continue to evolve and create new opportunities while increasing its perception towards becoming mainstream,” the report states. + +“A focus on global reach and neutrality could see bitcoin become an international trade currency. This would take advantage of bitcoin’s decentralized and borderless design, its lack of foreign exchange exposure, its speed and cost advantage in moving money, the security of its payments, and its traceability.” + +Citi’s report explain that bitcoin, in the role of a global trade currency, could be used by importers and exporters to pay for goods and services directly – simplifying the process of international trade. A decentralized cryptocurrency may be preferred to a Central Bank Digital Currency, it argues, because “no government or outside entity can take steps that might affect the supply of the trade currency, helping to decouple trade from political considerations.” +The market isn't a hard science, it's equally driven by fundamentals as it is by market sentiment. If you understand that WSB is driven by an irrational cult-like echo chamber obsessed with meme stocks, what's wrong with betting against or along that by selling Theta + IV? It's obviously highly speculative and risky, but if you understand who you are betting against/with, it's not as stupid as some of you make it to be. For example, selling OTM CSP on GME/AMC knowing that there's an army of WSBs willing to die holding those stocks isn't such a dumb idea if you have the risk tolerance for it. + +I don't touch meme stocks, but my point is we are all learning and sharing. +My fiancée and I are HENRY (~500k) in our late 20s and starting to build NW at a healthy clip. Getting closer to FI feels good, but we have no idea what we'll do with it. + +On our current projections we could realistically RE mid to late 30s (not particularly fat, but by no means lean either). We think we'd like to travel a lot as a primary pastime, but how interesting is travel as a hobby after two years? Five? Ten? Twenty? The concern is that we'll get bored of travel and then... Won't know what to do anymore, or won't have any really full-time endeavors. We don't have kids and don't plan to. We aren't likely to start a hobby farm or similar. We're active, but is there realistically a limit on leisure happiness, or a point where you've leisured so much it that it is no longer fulfilling? +During the gilded age there were captains of industry/robber barons with billions and huge wealth inequality similar to we have now; global trade/globalization was higher than what we have now by 2%, immigration was high as it is now and the manufacturing giant of the US was surpassing the UK just as now China is surpassing the US. Just as China is doing IP theft so did Andrew Carnegie do to the UK and other titans of industry they literally say when went to the UK saw what they were doing and copied. Also after the gilded age the income inequality was reduced significantly by strong labor laws and unions and the move to a domestic consumption economy just as China from the trade war moved from a 50% consumption economy in 2013 to 76% in 2018 factor in the coming cold war and cold trade ties they likely move into a fully domesticated economy by 2025. It seems clear to me that history is just plagiarizing itself here as it often loves to do. +I live in a poor country (Macedonia) , it is 4th poorest country in europe, + +Please give me tips how to make some money from crypto (Around 0.10-5$ a day) , i have around 2 hours a day to spend on it , also if possible without fees and requiring to pay,watching ads is also ok , just no mining, my laptop is so weak to mine + +i have no money to invest in crypto,, + +i have no problem with doing surveys , preferably if i can get money without id as corrupt government tracks everything here and sells all data, even 2$ a day is enough to pay for food for whole month + + +[This Politico article](https://www.politico.eu/article/croatia-launches-euro-bid/?utm_source=POLITICO.EU&utm_campaign=b4bdde5ce3-EMAIL_CAMPAIGN_2019_07_05_05_42&utm_medium=email&utm_term=0_10959edeb5-b4bdde5ce3-190137661&_ga=2.18810041.1284569737.1562568206-1316352792.1562568206) says that Croatia is willing to join the euro zone, and if all goes smoothly, it will do join 3 years from now. This is ample time to personally prepare and profit from the situation. + +I of course am located in the country, which makes me wonder. + +What are the good reads on the topic? Where can i learn about what happened with other countries citizens upon their entrance? + +Could it be beneficial to take a loan in kuna beforehand so to get it converted to euro, or not? + +What about my bank account? Should i start converting my savings into euro? + +There are many questions, but in general i want to profit on this event. What would you recommend? + +&#x200B; + +PS.: I have tried to post this in /r/AskEconomics/ and in /r/personalfinance/ with little to no success. I understand this is a very specific question and a one-in-a-life-time event, but that's exactly why i want to talk about it! +Happy 6th consecutive rate hike everyone!! + +Well we all woke up to a small (relative to what is expected) rate hike by the BoC of **50 basis points to 3.75%**. For anyone who is not aware, the rate (aka overnight rate) is the how much retail banks are charged for short-term loans. It comes down the economic line by influencing rate that people get from their everyday lenders on stuff like savings accounts and mortgages. + +&#x200B; + +**Why?** + +The idea is to bring down demand for goods and services that have risen in the past few months. In general this hike would be about +$30/month to every variable loan, for every $100k outstanding. + +The risk of the BoC not doing enough to tamp down inflation is much greater than the risk of BoC spooking households and triggering a recession, and that is the unfortunate realities of where we are. The BoC has found itself in a bind, where they must slow down demand enough to allow supply to catch up. Make no mistake, this is a delicate balancing act, and supply chains are obviously not the only issue. From my POV, the BoC has to focus on only what it can do. + +Make no mistake, what the government and BoC did in 202 did 100% contribute to the inflationary bind we find ourselves today. That is not the issue. That is the past. The BoC now is fighting to prevent this inflation from becoming entrenched. Also keep in mind that fiscal policy is shared between provinces and the federal government, and the two must work together to stabilize the rocking ship we are on today. People tend to forget that the BoC is an independent institution. + +The sad thing here is, the true impact of these policies always get passed down to the middle class and lower. It's not the C-Suite level person on Bay Street...It is the mother of two who is a teacher and now sees her mortgage go up. Yes, I love analytical and data discussions, but sometimes I feel that the people affected get forgotten or become a stat. + +&#x200B; + +**What does each party say?** + +>Liberal: We are doing the right thing, reigning in inflation, and the 2022 spending was needed +> +>Conservative: The government overspent in 2020 and 1/3 to 1/2 of it was not even pandemic related +> +>NDP: Pause rate hikes and the government needs to restructure corporate tax to make companies pay more tax in a record profit environment + +&#x200B; + +I am not aligned anywhere politically by the way, I just listen and write what I hear! My biggest fear is that with fiscal policy and economic stabilization, there are no smart adults in the room. It seems that instead we have everyone blaming each other. + +Anyways, have a happy winter everyone, and may your gas and heating bills stay low. +Words I've read on here many times. I found three ways that didn't work. I started three accounts between January and the end on March. Thought I would go the Aggressive Growth stock mutual fund route. 19% per year seemed doable. Then I heard of ARK ETF's, and the performance of last year, and put everything into those. Then the bleeding started. Then I thought I would buy calls, make profit, and put the profit into blue chips. Problem was, no profit, more bleeding. Then I stumbled upon Thetagang. It has become my tourniquet. Within 6 weeks, I am on the road to recovery, and almost ALL CSP's. Still down a little, but should be totally healed within 45 days. I have opened and closed, AHT, CVM, ATOS, MVIS, OCGN, and UXIN. My one bad move so far was PLX. Got assigned, then sold that piece of crap. I could not have done it without the help I have received from you guys. Thanks +So I was looking at a new Samsung Tablet, cheapest price was Harvey Norman at $878. + +Saw an offer on the screen that said 1000 days interest free, +which I thought was a good option as setting a scheduled transfer every month for 2 years would be $37 a month. + +Then I read the fine print, $8.95 monthly account fee. +The so called interest free deal actually costs 24% over 2 years. + +So overall it's considerably worse than an interest loan as the monthly fee doesn't get lower as the debt is reduced. + +It seems to me that offering this type of deal to customers is unethical at best. + +Oh and there was also the 24% interest rate after 1000 days and the fact that the minimum repayments wouldn't clear the debt by then! + +Anyway end rant... I will be saving up for this tablet instead. +My mom and her boyfriend left and took their stuff while I was at work today and our home is paid every month so I'm going to be kicked out on July 1. I don't know what to do. My mom used to be fine, but my dad killed himself 6 years ago. My mom didn't work but said that the Army was sending money because my dad was in Iraq. My mom started doing drugs and dating a guy who sells drugs. He beat me up sometimes and stole my stuff a lot, and he tried to take money out of my wallet yesterday when he was on drugs, and I stopped him and hit him back. Then he and my mom got in a fight and now they're both gone. What can I do? I'm going to be a senior next year and I don't want to leave my school. Can I get the Army to send me the money that they were sending my mom? Please help. Thank you. + +Update: Thanks everyone for the advice. I called my friend and his mom said that I can stay there as long as I need to, that's a huge relief. For people asking about where I am, I live in Camden New Jersey, and I am a boy. Also, we don't own a house. My mom had been renting a trailer for us. I was worried because I know that people have gotten locked out of their trailers for not paying and I thought that they would do that if I couldn't pay. Thank you all for your help. + +And I haven't heard from my mom, but she and her boyfriend took all of their stuff including the mattress out of the bedroom and the thing she kept her clothes and stuff in, so I know they just left, but I don't know where they went. + +Update again: Wow I don't know what to say. Thank you to everyone for all of your advice and offers to help. I am at a friend's house, I think I'm going to stay here for at least a little while. My friend's mom said I can stay as long as I need to and I cried and then she cried. I feel so much better, just a few hours ago I was really afraid and didn't know what I was going to do and now I feel like I am going to be OK. Thank you all so much. + +I don't know what I'm going to do about my mom yet, but I will update again if I figure that out. +I believe that ITC is highly undervalued today and is a compelling company for you to look at: + +1. **Undervalued:** ITC currently trades at 15-16x 1-year forward EPS, almost 2SD below 5-year average. Downside risk is very low. +2. **Growth:** + 1. **Cigarettes** will probably continue to grow at 3-5% EBIT over next 5 years and have 75% EBIT margin (which is ridiculous) driven by habit forming business and moat around sourcing and distribution + 2. **FMCG and Agri will grow at 10-15%** (revenue) and form a higher mix of overall revenues over the next 5 years. Savlon and other hygiene products have performed well during the pandemic (e.g. Nim Wash, albeit off low base) +3. **Moats:** + 1. **Market leader in cigarettes:** They are the clear market leader with \~85% market share (cigarettes) and have proven that they can work with the government to ensure that their business is not disrupted + 2. **Strong brand recognition in FMCG:** Brands like Aashirvad Atta, Sunfeast, Bingo are #1 or #2 in their category. Firm has invested in building multiple other brands in FMCG which will reap returns over next 5 years (albeit at the expense of profitability) +4. **Dividend yield (at this price):** High dividend yield of 5–7% which will go up even further if stock falls (think of this as similar to your FD) +5. **High ROCE:** Consistent 30-35% ROCE is tremendous - there are hardly \~50 clean well-managed firms which have this type of metric over a long period of time +6. **Risks** + 1. **Government taxation on cigarettes:** Even though government taxes on cigarettes will probably increase (as GST revenue falls) - Smokers have not and are unlikely to quit. However, 30% of revenue from habitual smokers has stopped in COVID (this is something to remember) + 2. **ESG funds:** Certain set of ESG investors can no longer invest in tobacco due to ESG focus, however, I believe these funds have already sold their stake in ITC given the huge drop in prices + +**I feel that ITC is a steal for this price of Rs 170.** Over the next 5 years it can reach Rs 250-300 while giving a dividend yield of 6%. Total return on investment will be 16%. Downside risk with high dividend is pretty low. + +***Something to research and make your own independent assessment on before investing. I cannot stress this enough - it may be a long journey ahead, do research on your own before investing.*** + +Disclosure: a) I own shares in ITC. This gives rise to a potential conflict of interest. b) ITC manufactures Tobacco based products, some individuals are against investing in these type of companies for ethical reasons +** Edit - please don’t downvote this is a useful lesson to other naive investors ** + + +I have 20k in an isa that’s 100% invested in a global tracker fund. It had dropped a few percent (so a few hundred quid less than what I put in) so I put in a sell order on Friday night. My plan was to get it into a Marcus savings account. This is part of my easy access emergency fund and I might need to spend some of it in coming months. + +The value now is crashing hard and I think the sell order won’t go through till Monday morning (it’s with AJ Bell you invest). Have I done something stupid here? I’m worried I’ve sold in the trough of a temporary low. +hey wsb i'm going to invest my life savings in starbucks gift cards cause i think the dollar is going to go down, i plan to sell them in a couple years and make an absolute killing + +what are the tax implications of doing this?? + +what kind of investment vehicle are starbucks gift cards anyway? my polyamorous girlfriend says that they're most similar to bearer bonds, which makes sense; does that tie their value to starbucks' capitalization? +I've been picking my own individual stocks for a while now and have been consistently generating solid returns, but I would like to simplify my ROTH IRA. I know that SCHD gets a lot of love here (understandably so), but would it be wise to allocate 100% of one's retirement portfolio solely into a single fund? Or might there be a better option/strategy? + +I've read posts here about pairing SCHD with other funds or specific stocks, but the advice I've seen given doesn't seem to result in better returns (and often measurably worse) than simply holding SCHD on its own. + +For context: I'm 35, max out my IRA each year, but started late so my portfolio value is only \~25k. + +Any help, advice, or related discussion is welcome. Thanks! +Edit: I’m overwhelmed with the supportive comments here. I’ve been in a pretty bad place the last couple years, nearly done with a divorce. I’m starting to clean the house again and deal with some neglected bills. I’m surprised at the number of comments saying “you can get one at Dollar Tree.” No shit. Do you think I’m holding out for a bespoke couture luxury model dustpan? + +I also appreciate the PMs offering to help. I could use it but, for one it seems risky, for two I would suggest donating to a local organization that can help people in your community instead. + +Thank you for being part of this community! +Welcome to the Daily General Discussion thread of /r/EthTrader. + +Find the latest Daily Altcoin Discussion thread by selecting the top result on this [search page](https://www.reddit.com/r/ethtrader/search?q=Daily+Altcoin+Discussion&include_over_18=on&restrict_sr=on&t=all&sort=new). + +*** + +The thread guidelines are as follows: + +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All sub rules apply here so please review our **[rules page](https://www.reddit.com/r/ethtrader/about/rules/)** to become familiar with them. The rules page is also linked in the announcement bar above. +- If the top page becomes overloaded with memes, all but the top two voted may be removed. If we need to remove a bunch of memes from the top page, post memes in this thread first and upvote the best so the mods know which ones to keep + +*** + + Resources and other information: + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! + +Welcome to the Daily General Discussion thread of /r/EthTrader. + +Find the latest Daily Altcoin Discussion thread by selecting the top result on this [search page](https://www.reddit.com/r/ethtrader/search?q=Daily+Altcoin+Discussion&include_over_18=on&restrict_sr=on&t=all&sort=new). + +*** + +The thread guidelines are as follows: + +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All sub rules apply here so please review our **[rules page](https://www.reddit.com/r/ethtrader/about/rules/)** to become familiar with them. The rules page is also linked in the announcement bar above. +- If the top page becomes overloaded with memes, all but the top two voted may be removed. If we need to remove a bunch of memes from the top page, post memes in this thread first and upvote the best so the mods know which ones to keep + +*** + + Resources and other information: + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! + +DW8 released a company update today, which showed a staggering 580% month over month (MoM) growth. Much wow, many impressive! + +Except they didn't achieve 580% MoM growth, they actually had negative MoM growth. + +**Here's what DW8 published:** +The Company is pleased to advise that WineDepot shipped a total of 23,006 cases in April, up 580% on the same month last year (MoM). In total 9,215 orders were processed in April up 350% MoM. + +**Here's the definition of month over month growth:** +Month-over-month (MoM) growth shows the change in the value of a specific metric as a percentage of the previous month's value. + +**So what does this mean?** + +DW8 have put out a report advising MoM is up 580%, which to your average retail investor looks amazing. Except it's a total fabricated lie. Whilst they haven't published the true month over month data (deliberately, it would seem) [their graph](https://imgur.com/JO2W549) shows that total orders processed was down from roughly 13,000 in March to 9,500 in April (down 27% MoM). Total cases shipped was down from 25,000 in March to 22,500 in April (down 10% Mom). + +Whilst this may seem like an innocent mistake, this is the sort of fundamental stuff you learn in year 10 accounting. Month over Month growth is one of the most important metrics that startups use to track user uptake, and more importantly, company valuation, as this is the sort of thing you then show to investors for your Series A, Series B or Series C funding when you're a new company. DW8 know what MoM means, they've simply published this update hoping that retail investors don't know what MoM means, and as such they can turn their -27% MoM into a much better looking 580% MoM (compared to last year). + +For a company that deals exclusively in the tech startup space this is nothing short of intentional fraud. If you went into a meeting with investors and told them you had 580% MoM and then showed that graph you'd be laughed out of the building. Caveat emptor for anyone holding DW8, as they aren't doing nearly as well as they pretend they are. Is it not scam dream? +Last year I bought 20 eth with my wages from a part time job. Now I can't believe that the 20 eth I bought can pay off my entire student loan debt. Still going to hodl though +**TL;DR: MSM has continually reported on Melvin Capital's closure due to poor performance. MSM seems to want to push a hard narrative that Melvin are doing really bad, however, the other funds from Melvin capital actually show otherwise...Their brochure also shows a much high AUM than reported.** + +&#x200B; + +# LOOK WHAT I GOT MY HANDS ON... + +&#x200B; + +https://preview.redd.it/g0eikje28ov81.png?width=1458&format=png&auto=webp&s=1a38d24414097fc418a56383074f624d0b49e005 + +&#x200B; + +# [SAUCE.](https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=755016) This has EVERYTHING to do how Melvin charges fees etc. I need eyes... + +***We're gonna come back to this I promise...*** + +&#x200B; + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +&#x200B; + +***We've all seen this...*** + +&#x200B; + +https://preview.redd.it/9fsz40wj2ov81.png?width=1279&format=png&auto=webp&s=d5e8d000c2a9b73a88e0a201e70d3df0280b982f + +&#x200B; + +**Notice the reduction from $8.7 billion to $5 billion? Melvin has ALWAYS held more than this. In fact, it is reported to the SEC and from themselves, the entire Melvin network actually manages...** + +&#x200B; + +&#x200B; + +https://preview.redd.it/x208d84h7ov81.png?width=1219&format=png&auto=webp&s=0269c2f18fed07fec32ca77ffecaf0052ed85211 + +**Granted, it's been four months since then...but the inaccurate reporting tries to keep our eyes away from their other partner funds.** + +&#x200B; + +&#x200B; + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +&#x200B; + +# Did Melvin just report that they're still in the hole for GME? + +So we know they have around $21 billion in AUM (assets under management). Well they legally have to break this down into how and where...only by percentages. + +&#x200B; + +https://preview.redd.it/nj2xnj4vbov81.png?width=1936&format=png&auto=webp&s=24cd4925191f0de7a9abde8ba9d89d635cfa43fa + +Notice the $3 billion in *"Corporations or other businesses not listed above".* Well that is $3 billion that is **NOT** in any of Melvin's other funds... so where is it?... + +&#x200B; + +&#x200B; + +https://preview.redd.it/oh0zurifcov81.png?width=2014&format=png&auto=webp&s=bbc98c30b0f82cce25c678a0ac27173c39498c86 + +So its a separately managed client account....hmm...break it down more... + +&#x200B; + +&#x200B; + +https://preview.redd.it/y90m8bmtcov81.png?width=1998&format=png&auto=webp&s=6c48759ba80cbfe482ab73ac7b751e1fec9410f9 + +# HOT DAMN, Melvin holds a $2 billion bag of borrowing...in what you ask? EQUITY SECURITES... + +&#x200B; + +https://preview.redd.it/yy759si6dov81.png?width=1943&format=png&auto=webp&s=6445c4cc8a745cb71f805d75d419692522a50ef3 + +**And just so you know, Goldman and Morgan Stanley hold the bag...** + +# + +https://preview.redd.it/9e4bkn9ndov81.png?width=2032&format=png&auto=webp&s=65d6e123076a17a804e470f98586608bd1a33ff8 + +# Insert meme here.... + +&#x200B; + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +# + +# Key points from the broshureeeee + +&#x200B; + +[Remember these 'long only' funds...](https://preview.redd.it/71mg86js8ov81.png?width=1435&format=png&auto=webp&s=1e088dd02a9fab2125a8cda0650b146b7ce1583a) + +&#x200B; + +&#x200B; + +https://preview.redd.it/6dwhr3ba9ov81.png?width=1114&format=png&auto=webp&s=fc2e94c47474550c8f4ef5c1da26a73c892427cb + +**THEY BUY SHILLS.** + +&#x200B; + +&#x200B; + +https://preview.redd.it/try20jkt9ov81.png?width=1144&format=png&auto=webp&s=4721c40feb26711a60d8a5531248958d6aed8356 + +# STILL TALKING ABOUT SHORT SQUEEZE BABY. + +&#x200B; + +Love you all. + +&#x200B; + +Punny out. +I called out a different friend on it when they made a similar comment (swap Europe for Mexico) and they defended their position. I didn’t feel like opening bank statements to elaborate. It made me realize it’s not an argument worth having any more. Also makes me not want to hang out with them any more. + +This probably isn’t going to get any upvotes. I just wanted to vent. + +Edit for clarity: when I said they agree, I meant that they’re relating their situation to mine. I think everyone can agree that being broke sucks. +Foxconn Technology Group company Bharat FIH, a top domestic electronic manufacturing services ( EMS) player and the largest mobile phone maker to market leader Xiaomi, has filed papers with Sebi to raise around Rs 5,000 crore via an IPO, people in the know told Moneycontrol. + +"The IPO will comprise of a fresh issue component of Rs 2500 crore and an OFS ( offer for sale component) of Rs 2500 crore," said one of the persons cited above. Another person confirmed the same. + +Both spoke on the condition of anonymity. Parent FIH Limited is listed in Hong Kong. +Moneycontrol has reviewed a copy of the 100 percent promoter held Bharat FIHs DRHP, according to which the net proceeds of the IPO will be used for- + + + Funding capital expenditure requirements towards up-gradation and expansion of existing campuses. + + Investment in Subsidiary, RSHTPL, for financing its capital expenditure requirements; + + Funding working capital requirements of the Company; and + + General corporate purposes. + +Kotak Mahindra Capital, Citi, BNP Paribas and HSBC Securities are the Investment bankers working on the IPO. Shardul Amarchand Mangaldas and S&R Associates are the legal advisors. + +[moneycontrol article](https://www.moneycontrol.com/news/business/ipo/foxconn-india-arm-xiaomi-phone-maker-bharat-fih-files-for-rs-5000-cr-ipo-7853821.html) +Shouldn't the value of the VUSA track the value of the greater S&P 500 as a whole, or is the sell-off from American investors presenting a good buying opportunity for investors in other countries? + +An "optional" extra question - do CGT increases in one country which result in sell-offs result more generally in increases in the value of the same tracker funds held in other countries? +Mods can't do it all themselves/don't want to ruin the integrity of this sub that comes from free speech. There has been a bit of this happening recently (incorrect interpretations of SEC filings come to mind) and I don't actually think it's FUD, it's just excited apes. + +Not linguistic advice, I just like the truth. + +🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 + +Edit: u/michalxm suggested maybe a debunked flair? +I keep on top of my credit score pretty closely. I check CreditKarma at least once a month, and validate it by logging into MyEquifax to see the score offered there. + +I just applied for a new car loan, and - despite my published Equifax score of 780 - was surprised to be offered a rate lower than the rate reserved for "excellent" credit. When I asked the lender about this, they said my score was 670. I called Equifax to find out why they were vending a different credit score to the lender than to me. + +Evidently (and maybe I'm just late to understand this), there is no such thing as a "credit score". The score published by Equifax is their own model (which closely mirrors FICO), but *every lender can define their own scoring model*. This means that there's effectively an infinite number of models and no visibility into how you can increase your score against them. + +This is a rigged game, and carefully monitoring/grooming your credit does *not* necessarily result in a better score. +For the past 5 months I have turned $10k into $50k with just put credit spreads and nothing else and it has genuinely been super easy. I take a stock from my large cap watch list that’s on a three month low and set my strikes pretty conservative with 2 to 3 weeks from expiration (usually takes a 5% to 10% drop to reach break even prices) then all I do is collect the theta and rinse and repeat. If I see lots of plays I usually have most of my buying power in credits spread and a little cash left just in case if I need to roll out a credit spread. Getting a 20% return a month is insanely easy with this strategy but my question is, I am missing something? Is there a flaw in this strategy? If anyone has been doing two legged options for longer than I have is my strategy sustainable? What is the outlook if I continue this strategy for the next 3 years or so? Because I genuinely don’t know if I’m just getting lucky or this is an actauly sustainable strategy +https://www.bloomberg.com/news/articles/2021-06-22/microsoft-rallies-to-join-apple-in-exclusive-2-trillion-club + +>Microsoft Corp. took its place in the history books as just the second U.S. public company to reach a $2 trillion market value, buoyed by bets its dominance in cloud computing and enterprise software will expand further in a post-coronavirus world. +> +>Its shares rose as much as 1.1% to $265.64 on Tuesday in New York, enough for the software company to join Apple Inc. as one of only two companies trading at such a lofty value. Saudi Aramco eclipsed that threshold briefly in December 2019, but currently has a market value of about $1.9 trillion. +Saw this news today. Buffet is value investing god father for a lot of people include me. But this is not feeling good, this feels like insider trading. I feel this should investigate by officials. Any thoughts? +HAPPY people! + +What a few weeks it has been, If you haven’t been taking note of the market recently….You should be. BNB is on the rise, $500 is in sight and we should all be ready to load up our bags and start investing in tried and tested projects with potential. + +Loyal holders have kept the floor strong during the downturn, and continue to do so. Happy is on the edge of breaking out with new projects on the horizon. + +A brand new team has the reins of the project, and this is a group FULL of ideas to really make $HAPPY fly. Now is the time to be getting involved with the community, and feel for yourself the new vibe and direction the project is taking. All the signs are there for another boom of activity, and you should be along for the ride. + +So what’s in store for $HAPPY? An app is currently in development. Yep, you heard that right: An app. HAPPY wants to bring mental health resources right front and center stage. Not only this, but the official partner(s) of HAPPY: Up4MentalHealth will also have a place for their content.  + +A mental health focussed podcast is looking to bring the project to mainstream eyes and bring in a new audience. This isn’t an idea to be missed.  + +They have donated over $210,000 are CertiK audited, with a loyal team with a lot of online experience; One thing for sure. HAPPY is here to STAY. + + +With a 2.8 M market cap, I'm bullish on this one. Personally, I'm excited for what's to come. + +💛Website  https://www.thehappycoin.co +**This is not financial nor investment advice. These are ideas and opinions for information purposes only.** + +*This post will read bottom to top. It's easier for people to refresh the page and see edits at the top* + +**Historical supports and resistances:** + +116.5, 125.5, 132.5, 141, 145, 147.5, 150, 152.5, 156.5, 162.5, 172, 176.5, 182, 183.5, 184.5, 187.5, 190.5, 192, 195, 196.5, 197.5, 200, 209, 211.5, 214.5, 218, 226, 230, 234, 243, 250, 253, 256.5 + +[https://reddit-stream.com/comments/mkkj0p/](https://reddit-stream.com/comments/mkkj0p/) + +**Edit 17 4:02PM:** + +Ended around 186.13 for the day, small bounce in the last few minutes! + +Overall a great day, see you all tomorrow! + +https://preview.redd.it/9utatwgaver61.png?width=2145&format=png&auto=webp&s=07107ea1f9f4ad6e71a9a3f1f8660de506d818bd + +**Edit 16 3:46PM:** + +Low volume, should finish above 182 for the day. Added a new 182 support. + +https://preview.redd.it/m55bw4idser61.png?width=2146&format=png&auto=webp&s=182292f146fdc1499d5a723e19165fc881d8327b + +**Edit 15 3:04PM:** + +Back for power hour! + +[https://www.youtube.com/watch?v=5dyrEIkMzMY&ab\_channel=WardenElite](https://www.youtube.com/watch?v=5dyrEIkMzMY&ab_channel=WardenElite) + +**Edit 14 2:26PM:** + +Quick summary of how to detect a short squeeze 24 hours before the squeeze. + +Go to [https://www.tradingview.com/script/nO5Y6yTa-CV-VWAP-GME/](https://www.tradingview.com/script/nO5Y6yTa-CV-VWAP-GME/) and favorite the CV VWAP indicator. + +Then in TradingView, turn that indicator on under the favorites list. It's pretty simple to use. + +https://preview.redd.it/dcxwccsceer61.png?width=2197&format=png&auto=webp&s=6eba3d3edea03d5963ca0d7f7b014968c8a09270 + +Basically if the silver line goes near or above the dotted red line above, its a positive signal for an incoming short squeeze. Don't pay attention to the indicator during AH or PM. Only during trading hours. + +There's a couple false signals and intricacies of how to read the signals properly. I explained it early on in my stream today. + +**Edit 13 1:37PM:** + +We were quite close to crossing 200 like my friend in the chat had predicted. We touched 195. Close enough! + +I'll be back at power hour, mostly just sideways trading on low volume right now. + +**Edit 12 1:09PM:** + +Nothing crazy happening, we're sagging towards VWAP, volume dying down. + +https://preview.redd.it/5531tuwe0er61.png?width=2128&format=png&auto=webp&s=a7cc10e57ae3bae1601502b154e67abaa3dd3561 + +**Edit 11 12:14PM:** + +Local double top. Stock will consolidate a bit lower. + +https://preview.redd.it/ug0wdbqiqdr61.png?width=2132&format=png&auto=webp&s=ac5406bd3c251c4ad4505cab0b9c29ce1c275e4d + +**Edit 10 11:38AM:** + +Gap fill today. + +https://preview.redd.it/d78739y3kdr61.png?width=2131&format=png&auto=webp&s=8410c85f9819d570d653ef0e238a3df4655f215d + +**Edit 9 11:31AM:** + +WE GOIN UP! + +https://preview.redd.it/lpkd3agzidr61.png?width=2118&format=png&auto=webp&s=ed176aa74f0f373cbfbca18d84cf6799fdf162b4 + +**Edit 8 11:27AM:** + +Rough rough prediction for the week. Letting that IV crush. + +https://preview.redd.it/qgvay8dbidr61.png?width=2108&format=png&auto=webp&s=7322628fa111d5a456ec2ae02bb5a722cf1be9c9 + +**Edit 7 11:21AM:** + +Someone shorted 1m worth of Puts at the 200 strike. This is very bullish imo. + +https://preview.redd.it/91cbmrm3hdr61.png?width=2271&format=png&auto=webp&s=4d46c67175c6cab1a2d15cfa5b64ac5b13dde3e9 + +**Edit 6 11:19AM:** + +Mostly bullish in terms of options activity. Lots of long calls getting put in. + +https://preview.redd.it/cxagj1drgdr61.png?width=2441&format=png&auto=webp&s=50c2bfe22a2d9a932078620bbfa18a9fb1b8c246 + +**Edit 5 11:09AM:** + +Decently low volume. We're finding a good consolidation zone between 176.5 and 184 channel. + +https://preview.redd.it/ektlkcfyedr61.png?width=2279&format=png&auto=webp&s=a56fa213890669df2ff6a3d79924aaf99c1e7f9f + +**Edit 4 10:05AM:** + +I will be on in 10 minutes, did you all catch the dip? + +**Edit 3 9:34AM:** + +No one is selling haha. Look at that low volume! + +**Edit 2 9:31AM:** + +Reminder I have a meeting until 10:15 EDT. Use everything I showed you guys to find a dip! You guys got this! + +**Edit 1 9:28AM:** + +&#x200B; + +https://preview.redd.it/q8e2v8e0xcr61.png?width=353&format=png&auto=webp&s=a6ff8560f436c158223e4e3a5e7978c3061f2e71 + +# Begin reading here + +Hey everyone. **I'll see you all on my stream at 10:15 EDT, 45 minutes after market open.** I will try my best to explain things to you. Things are a bit chaotic right now, but I will try to make sense of it all. + +**DO NOT PANIC. DO NOT FEAR. THERE IS NOTHING WRONG WITH THE ATM OFFERING AND I WILL EXPLAIN WHY.** + +Nothing has changed. Buy and hold. TODAY IS A FIRESALE. + +https://preview.redd.it/cog67d3bvcr61.png?width=348&format=png&auto=webp&s=c67bce1f46d7cc0e79db0e27aa07e37d632caf71 + +See you at the stream: + +[https://www.youtube.com/watch?v=1KKGYADgP4A&ab\_channel=WardenElite](https://www.youtube.com/watch?v=1KKGYADgP4A&ab_channel=WardenElite) + +Also get in my discord: + +[https://discord.gg/GmRYtEWS](https://discord.gg/GmRYtEWS) + +Twitter: + +[https://twitter.com/warden\_elite](https://twitter.com/warden_elite) + +My tip jar: + +[https://ko-fi.com/wardenelite](https://ko-fi.com/wardenelite) +I know that there are various ways this could be implemented. Student debt is something I find alarming, as I think it effects a lot of potential economic movement since it has balooned in size. I guess I'm presupposing that the size of the debt is an issue, so if it isn't maybe gimme some info, but my ultimate question is which would be the best way to implement student debt cancellation? + +- Cancelling all of it, a la Bernie + +- Cancelling it based on income, like cancelling all at a certain income level + +- Cancel a portion of it scaled with income + +- Cancel based on completion/employment + +- Or I guess cancel none of it +For me, buying a newer and larger house has significantly improved day to day quality of life. There is no substitute for space. It did set FatFire back by a year or two but worth it. + +A Model X is a close second. As a parent, the rear doors save a lot of time. I don’t know why minivans are not more popular. + +What has improved your QoL significantly? +Long story short, I have terrible credit (it was once so good!). + +My TransUnion score is 585 and my Equifax is 582. + +I actually ended up going prison for a while and defaulted on everything. Literally every account I had. BUT, all of them are past 7 years now. They all say "closed", but they are still on my report. Is there a way to remove them? I assume they are doing a lot of damage. + +I am in Florida and the accounts would all be from NJ, NC, GA or FL. + +Thanks. + +**EDIT: Holy crap. Thanks for all this advice and the kind words. You can start to feel like a weirdo being a felon so it feels good to get legit advice and supportive comments even from Internet strangers. I did just notice something: I got my hard copy credit reports about 10 months before I got out (they sent them to the prison). All of the dates on those say "Removed by...." with the LATEST date being February of 2017. But now when I look at Credit Karma, some of the dates say 2019 or 2020?!?** +Hi all, I'll try and word my question as clear and comprehensive as possible. + +You hear of investors diversify their portfolios, shares, crypto, precious metals etc. + +When a recession is about to happen(I'm not saying there is) do they keep hold of their assets or do they sell everything off? + +Do they sell and rebuy when the prices are lower ? + +Do they just keep the fiat and live off that? + +Any insight, ideas and answers are welcome, thanks in advanced. +Never thought a day would come where I'd be writing this but my dad passed away about 20 days ago due to long standing illness. + +He has left a net worth of around __ in various bank fixed deposits, some policies and a now not so profitable (we're still breaking even) business behind. + +My mother (a senior citizen) and I (28/M) are the only legal heirs, I'm unmarried. + +There are some lands to our name which I won't get into right now, rest assured documentation is proper. + +For context, I earn about 1 (state govt job, about -__in hand post deductions) and my mother has about ___ pension. + +We don't have any debts/liabilities/emis, no money intensive future plans in the pipeline for now (like my marriage). + + +Most of the amount is in FDs, and I'll be putting the amount I get where I was a nominee to my mother's name aswell since its good for tax benefits and I want my mother to be the last signing authority on all that my dad has left behind. + +I'm considering about 85% of amount to invest in FDs (mother will have senior citizen benefits) and invest the remaining in simple index, next 50 and one other fund. I'm keen on fds since the interest would be enough without having to deal with extra headaches of tracking various investments. + +Am I on the right track? Or is there some glaring mistake in the plan that my not to financially equipped mind is overlooking? Any inputs/advises are appreciated. + +Edit : both dad and mum have 15L senior citizen saving scheme active + +Edit 2 : apologies for not providing enough info, my parents like an average middle class Indian kept their investments simple, them being senior citizens and my dad handled most. + +I invest via zerodha coin in an elss (switched after 2 years of ppf), and I invest in uti nifty 50 index and was about to start nifty next 50 sip aswell. + +I don't think lumpsum is good idea since the market is already at an high, even though in 10 years time it shouldn't matters much I guess? + +Edit 3: edited the specifics since post history is a thing. Might delete this in a while as I feel this has served its purpose. Thanks for the suggestions here. +Yesterday's thread on how many FatFIRE folks don't set out to be FatFIRE had me thinking that many of us likely feel like outsiders among other wealthy folks, or we don't adjust to a wealthy lifestyle. + +So what is a luxury that you see others spend huge amounts on that you still just don't understand? + +For me it's long multi-month cruises that cost north of $70K a person...I can hardly imagine a worse fate. +Greetings fellow autists. + +I’ve been meaning to give back to this community from which I’ve benefitted a lot since its founding, and decided to do a write-up on the modern EV Battery and Grid Storage sectors. I also wanted to do one for Magnis Energy Technology’s projects (MNS) and where it strategically fits in this high growth but very complex sector, so I combined the two DDs into what you have here. + +While I do hold MNS stocks, and **I WILL address the current Murdoch media/Twitter/HC campaign against MNS**, this post will first and foremost be to help understand the global EV Battery sector and related sub-industries/downstream markets. + +Then using this as a framework, I’ll share my own DD on MNS, their projects/holdings, and whether it is a good or risky investment choice within the sector & in the current ASX/media climate. Anything I couldn't fit in 40k characters will go into a FAQ comment. + +But *tl;dr* for those just wanting a quick answer, I am holding firm, with a **SP target of \~$2.15 by June 2022** depending on MANY factors. + +[Table of Contents](https://preview.redd.it/e2cxd8hdtn281.png?width=680&format=png&auto=webp&s=0531b6e9eaaecac5596795e218a660bc8ba7b55e) + +# 1 - Lithium Ion Batteries 101 + +Batteries are a way of storing electrical energy that can be collected at any point in time, then discharged for consumption at any other point in time, and due to its relative technological maturity and long lifespan, **the overwhelming majority of passenger electric vehicles (PEVs) made in commercial quantities today use Lithium-ion Batteries as their energy solution**. + +## 1.1 How does a lithium-ion battery work? + +A modern Lithium-ion Battery (or LiB), co-invented in the 1970s by Nobel Laureates **Professor M. Stanley Whittingham**, John Goodenough, and Akira Yoshino, is made up of 5 key aspects: the **Cathode**, **Anode**, **Electrolyte**, **Separator** and a **Cell form factor**. The way these batteries discharges or recharges electrical energy is by transferring electrically charged atoms (the **ions**) between the cathode material and the anode material through the electrolyte medium. The lithium part of LiBs sits in the anode. + +See diagram below for high level illustration. + +[Key components of a Lithium-ion Battery](https://preview.redd.it/l76ldfgpen281.jpg?width=734&format=pjpg&auto=webp&s=fa849cf89cf44e8b88948093a3a85f7f07c44b52) + +## 1.2 What exactly is inside your LiBs (Battery Cell Chemistry)? + +There are a large number of materials and chemical mixtures that can theoretically serve as the cathode or anode of a LiB, below are an example of several *classes* of cell chemistries. + +* **NMC/NCM**: Nickel-Manganese-Cobalt battery. the most common type of EV battery pre-2020 due to many L-ion battery makers already familiar with it. +* **NCA**: Nickel-Cobalt-Aluminum Oxide. Used by Tesla’s performance range models, due to good energy density and faster charging/discharge capability. +* **LFP**: Lithium-Iron-Phosphate. Cobalt and nickel free which makes it more ethical and cheaper to make. It is however much less energy dense. + +[Most common cell chemistry types in deployed EVs. ](https://preview.redd.it/3qvnpmjten281.png?width=1635&format=png&auto=webp&s=fe9c375002935da3a600039c174c0c0055c0de09) + +**T**he numbers in these cell chemistry codes refer to the ratio of metals. Mini example below. Mixing up the balance also affects the properties of the battery. Images source: [CNBC](https://www.youtube.com/watch?v=DFL8iQ3p3cI) + +[Simplified breakdown of NMC 811 chemistry](https://preview.redd.it/k38wuqlzen281.png?width=1826&format=png&auto=webp&s=0fbeb3ec449b0ffa2e77ef2bc64f713d7162bea9) + +Here are all the practical considerations when designing a battery cell chemistry, which affect their suitability and commercial viability for end consumer applications: + +* **Energy Density**: this measures how much energy can be stored and discharged per unit of weight (or kW/kg). Batteries need to carry their own weight in a mobility solution, similar to the curse of rocket fuel. +* **Material Availability**: how abundant are each metal/mineral that is required in various cell chemistry? +* **Cost**: materials + mine location + manufacturing process needs + scalability of process affects profit margins of a particular cell chemistry design. +* **Charging speed**: How quickly can the cell recharge from near zero to 80/90/95%? This affects the end user experience and usability of battery for various application classes. +* **Usable Lifespan**: How many charge cycles is the cell able to endure before degradation? More details [here](https://www.geotab.com/au/blog/ev-battery-health/). +* **Stability/Safety**: different cell chemistries and manufacturing processes may lead to more volatile batteries in certain environments. More info [here](https://www.youtube.com/watch?v=D3GDdZkN6fg) +* **ESG**: Environment, Social and Corporate Governance. Cobalt mining is a huge human rights issue. + +Due to the different end user applications possible, **there is no one-size-fits-all cell chemistry choice**, which we will discuss the most popular ones when we deep dive the EV Battery sector. + +However, it isn’t hyperbole to say that **advances in the cell chemistry of LiBs will make or break other electrified sectors**, which is why both Tesla and VW felt it worthy to create their respective 'Battery Day' in recent times to highlight their EV battery vision and strategies. Also the US Congress’s recently passed Infrastructure Bill allocates over $10 billion for the R&D and development of domestic EV Battery technologies and supply chain. (More learning [here](https://www.youtube.com/watch?v=l6T9xIeZTds)) + +## 1.3 Where are LiB cells most used? + +The overwhelming majority usage of LiBs are Passenger EVs and Consumer electronics (phones). This is true globally but even more so in USA due to relatively lower adoption in other vehicle classes. However it is projected that with the recent policy changes by the Biden administration, **stationary/grid energy storage and electrification of the government fleet will increase demand and adoption of LiBs in those subsectors**. [Info Source](https://bnef.turtl.co/story/evo2019/?utm_medium=Newsletter&utm_campaign=BNEF&utm_source=Email&utm_content=wirmay21&mpam=21051&bbgsum=DM-EM-05-19-M21051) + +[Source: Bloomberg NEF 2019 Outlook](https://preview.redd.it/4ti2dy7kgn281.png?width=829&format=png&auto=webp&s=663286e1c0324bde137b72838752fc73c02f4aa2) + +It is worth noting that this particular survey shown above oversimplifies 'Passenger EVs' which in Section 2.2 we will deconstruct and do some localisation analysis. + +## 1.4 What about Stationary (grid) Storage? Is LiBs used for that too? + +LiB cell chemistry for grid storage batteries is more diverse than EVs due to no requirement to be energy dense and slightly relaxed safety standards to serve grid stabilisation needs. You can scale a storage solution with much more land space than in a scooter, car or truck. This means many cobalt-free chemistries are actually possible and more cost-effective than NMC/NCA-based ones. [More info.](https://cen.acs.org/materials/energy-storage/Lowering-cost-grid-storage-batteries/98/i36) + +There are also alternative types of energy storage technology outside of LiBs that provides various advantages (and also drawbacks) in grid storage that add to the market competition. Most are in their infancy or have shown limited potential, however good to keep an eye on + +**Alternative A - Flow Batteries:** not designed to store energy for weeks on end. Good for utility and grid stabilisation applications. + +* **Pros compared to LiBs** + * **longer lifespans**: very low degradation rate + * **safely**: operates in extreme temperatures, little to no fire hazard. Chemistries are far less toxic to humans if exposed accidentally. + * **highly scalable**: just add more electrolyte to a larger tank! +* **Cons compared to LiBs** + * **higher capital cost**: about 40% higher than LiB at the MWh scale. + * **lower discharge rate**: not suitable for sub-second electrodynamics required in EVs. +* **A few notable companies/projects in this space (and what stage are they at)** + * **Primus Power** (pilot programs): since 2009. Flow battery design, Zinc-Bromine chemistry. \~1-10MWh delivered across US and Asia + * **ESS** (commercial): US-based, iron flow batteries. \~50-200 MWh delivered with 2GWh of further orders part of a SoftBank deal. + * **Jena Batteries** (pilot programs): developing metal-free batteries. \~1-10 MWh delivered. + * **Invinity Energy Systems RedT** + * **AMBRI** (research): MIT Spin-off. Scaling issues. sub-MWh systems being developed. +* More info on flow batteries [here](https://www.powermag.com/flow-batteries-energy-storage-option-for-a-variety-of-uses/) + +**Alternative B - Gravity-based system:** for grid stabilisation, pumped Hydro and analogous architectures that involves energy transfer using kinetic-electric conversion are also popular with governments. The idea is to use up excess grid electricity generated by pumping hydro from a lower reservoir to an upper reservoir, then release the energy when letting water flow back in the opposite direction passing through a generator. + +* **Pros**: + * Very cost effective from a material per wattage-hour. + * Can leverage existing dams (lower capital cost) +* **Cons:** + * Unsuitable for small scale applications. + * Efficacy impacted by weather and geological events. +* More info [here](https://www.youtube.com/watch?v=EoTVtB-cSps) + +## 2 - The LiB Sector in 2022-30 + +The world is decarbonising due to climate change. Two areas most actionable are clean energy transportation and grid stabilisation, both requiring LiBs to achieve 2030 goals. + +The demand for EV Batteries is easily outpacing Grid Storage so we will focus on that, and as both demand and supply ramps up exponentially, an appreciation of whether demand outpaces supply will help identify if we expect shortage of saturation which might influence investing in EV battery makers. + +## 2.1 - Who makes the most LiBs for EV application in 2021? + +Currently, China dominates the global LiB manufacturing market representing more than 40% of factory ownership (mostly CATL), but **over 70% in terms of factory output by geolocation** (cell suppliers LG Chem, SK Innovation and Panasonic all have large plants in China). + +Diagram below shows the largest cell suppliers' production stats as of early 2021. + +[Global EV Battery output is less than 200GWh, but the world needs 500GWh by 2025](https://preview.redd.it/bzxe2kpein281.png?width=2007&format=png&auto=webp&s=9cc29ef7d00ec9f1ff4831feff50e4feb7a90dcf) + +CATL only began making EV batteries at scale in 2016, and as can be seen above, they were able to grow exponentially once the first factory was set up. Other EV battery plants are experiencing the same amount of exponential growth in production capacity, but **less than 15 EV Battery makers in the world are currently provably producing gigawatt scale**. + +[Balance of supply and demand for LiBs \(in GWh\) for various scenarios](https://preview.redd.it/yt97vh6nln281.png?width=700&format=png&auto=webp&s=751e99e68f61ed6cf227ed57cf809bf7bdd0abb8) + +Diagram above summarises my extrapolation of the big picture of how demand targets based on pre-Glasgow pact compares to the electrification rate requires to hit net zero based on their climate models, and supply of LiBs based on current and future production targets by the top 10 makers will either under or overshoot depending on which way the world progresses and **also whether China continues to allow for export of LiBs from domestically produced supply**. + +There are scenarios where current players will dominate and provide all the batteries we ever need, but scenarios where a massive global LiB shortage will worsen due to over-dependence on Chinese factories in a late scramble to decarbonise roads in Americas and Europe. + +&#x200B; + +## 2.2 - Who consumes the most LiB batteries? + +Now on the demand side, the ‘passenger vehicle’ class in US, Europe and Australia is generally talking about sedans, SUVs, pickup trucks. Cars with hoods and doors. + +In South and South East Asia however, the next largest markets for EV, a much more divers e-mobility market exists and is often under-estimated in terms of market size. For example, India, the **fuel cost competitiveness of 2 & 3-wheelers are already beating their petrol counterparts** ([source](https://cleantechnica.com/2018/10/31/indias-1-5-million-electric-vehicles-why-youve-never-heard-of-them/)). Examples of 2 & 3-wheeler class mobility vehicles include e-scooters, motorbikes, and auto-rickshaws. + +&#x200B; + +[Source: Bloomberg NEF](https://preview.redd.it/ksgrh29wmn281.png?width=646&format=png&auto=webp&s=def1330b1c79bac17916af040af31181862b6f1c) + +The Indian EV market is expected to be worth $2b USD in 2023 by the Indian Government ([source](https://www.investindia.gov.in/sector/automobile/electric-mobility)), and **will grow to $3-5 Billion in LiB sales** in 2025 when factoring in the expect increase in sales and the average battery capacity/range performance of these electrified vehicle classes. + +&#x200B; + +## 2.3 - What about China? + +As mentioned earlier, China is not only the leader in EV Batteries, but also EVs themselves and have the largest electrification rate on passenger vehicles due to many low-cost short range cars that are [very popular](https://www.bbc.com/news/business-56178802). They, along with India, are also front runners in electrifying the 2 and 3-wheeler mobility class (though 3-wheelers are a comparatively much smaller market). The wattage demands of these are definitely less than PEVs but they are most likely to be electrified quicker due to lower barriers to entry for makers to electrify compared to 4-wheelers. + +[See sources for specific data points](https://preview.redd.it/jyp2itdvon281.png?width=699&format=png&auto=webp&s=7aad01fa339aeb7e51995e3a0d3956004ee28081) + +While the wattage also has a lot of mobility discussions to be had but due to their increasingly protective approach to their own EV market, I won’t discuss further but worth a look at these sources [\[1\]](https://www.maximizemarketresearch.com/market-report/global-electric-three-wheeler-market/75177/) [\[2\]](https://www.statista.com/statistics/318023/two-wheeler-sales-in-india/) [\[3\]](https://www.prnewswire.com/news-releases/china-electric-two-wheeler-markets-report-2021-2025-sales-demand-impacted-by-personal-commuting-logistics-and-deliveries-and-shared-mobility-application-301368386.html) [\[4\]](https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/china-s-auto-sales-rebound-may-be-short-lived-59140784) [\[5\]](https://www.statista.com/statistics/281170/china-commercial-vehicle-sales-by-model/) [\[6\]](https://www.bbc.com/news/business-56178802) + +The diplomacy between China and US is also a massive concern due to their increased competition for green dominance since Biden came into office. + +China can currently decide to ban export of LiBs they make, leaving US carmakers in the dust with very limited options. This is why in the recently passed US Infrastructure bill, it **outlines a** **PRIORITY Grant of $3 Billion USD** **for advanced battery manufacturers that use a US-centric supply chain** ([link to the Congress Bill](https://www.congress.gov/117/bills/hr3684/BILLS-117hr3684eas.pdf), see **Pages 1412-1418). There is also an additional $3 Billion for Cell chemistry and recycling innovation.** + +This highlights very active worries from the White House that they cannot simply depend on China's LiB output towards their own electrification strategy in case certain diplomatic matters such as Taiwan, South China Sea or Uyghur persecution flares up again. US intends to support local battery makers at all costs to ensure they have their own supply of batteries as they electrify transportation. + +&#x200B; + +## 2.4 - Which cell chemistries are most common, and trending up? + +Below is a summary of all major EV makers' promised or already delivered cobalt-free batteries in their upcoming PEV models. (Note: IM3NY’s date of reaching 1 GWh production rate is based on their own COO’s stated expectations). It's hard to get specific data about when a particular model line switched so I mostly worked with announced or released details on the general goals of the carmaker. + +[China was omitted due to unverifiable data on EV cell chemistry in the mainland](https://preview.redd.it/00cpys0nrn281.png?width=629&format=png&auto=webp&s=0d0999b0fec98c7f54bb9302d337ca9101c4ef4f) + +Sources: [\[1\]](https://arstechnica.com/cars/2021/10/tesla-made-1-6-billion-in-q3-is-switching-to-lfp-batteries-globally/) [\[2\]](https://pushevs.com/2020/04/23/possible-upgrades-with-ncm-712-battery-cells-from-lg-chem/) [\[3\]](https://www.spglobal.com/platts/en/market-insights/latest-news/metals/031721-volkswagens-plan-on-lfp-use-shifts-hydroxide-dominance-narrative-in-ev-sector) [\[4\]](https://www.cnbc.com/2021/06/28/renault-inks-gigafactory-deals-with-chinese-and-french-firms-.html) [\[5\]](https://www.autoevolution.com/news/ford-details-ev-strategy-ford-plan-includes-li-ion-lfp-solid-state-batteries-162005.html) [\[6\]](https://media.gm.com/media/us/en/gm/home.detail.html/content/Pages/news/us/en/2020/mar/0304-ev.html) + +Currently most major passenger EV makers are still on their journey towards transitioning to cobalt-free batteries, and LFP is the most commonly announced cell chemistry choice for current or planned models. However, some non-Tesla makers like VW, GM, Ford and Toyota are not limiting themselves to LFP and have simply announced **ambition dates for using cobalt-free LiBs and are not there yet**. + +Either ways from an investing standpoint, all EV makers need LiBs. When there's a gold rush, make and sell the shovels. + +&#x200B; + +## 3 - Now onto Magnis: a promising EV Battery player with enemies + +For the rest of this post I will focus only on the opportunities and valuation of MNS based on the current state of its projects/holdings, risks posed based on its past and ongoing challenges with regulators/media coverage, as well as the state of the EV and Grid storage battery sector as discussed above. + +Two other important links for further info: + +* [MNS 2021 AGM Corporate Presentation](https://wcsecure.weblink.com.au/pdf/MNS/02455326.pdf) +* [MNS Info site managed by another long term investor not on Reddit.](https://asx-mns.com/) + +## 3.1 - A brief history + +Magnis is, at its core, a holding company that owns & enables projects in the renewable energy and tech space. We will discuss each of these entities in some detail. + +[Overview of Magnis vertical as of Nov 2021 \(Source: AGM\)](https://preview.redd.it/jy7jdr99sn281.png?width=1227&format=png&auto=webp&s=b649e7cdbb9292db4ac331fe5e6f01428fea3467) + +Previously named Uranex, the company was first interested in Uranium mining, but pivoted to graphite (Nachu project) due to lack of offtake interest in the 2010s to develop it further. Then in order to get in early on the EV supercycle, Frank prioritised US LiB cell manufacturing over Aus. + +Due to this rapid evolution, a lot of board and staffing changes were needed to make the transition possiblel things were messy. + +The diagram below summarises this shuffle of board & staff based on my deep dive. The barbell lines denote the period each of these director was engaged, and the colour indicates their ‘focus’ area (my interpretation). (Source: many MNS ANNS). + +[Exact employment start dates are not always available\/estimated due to ASX reporting requirements only needed for board director appointments\/resignations.](https://preview.redd.it/n2l16sqzsn281.png?width=701&format=png&auto=webp&s=8b8fbae0810bca264c0fe3a55998cffdae4318f6) + +I’ve also drawn some boundary boxes around periods that I consider the ‘eras’ of Magnis in terms of their priority as a company. This is my own interpretation of the situation as an outsider not what the company itself has stated. + +Clearly there was a massive shuffle in the past 18 months, with only 3 Magnis directors that have remained onboard since its 2016 days: Frank Poullas, Peter Tsegas, and Prof Stan Whittingham. Names of ex-director/staffers I've highlighted in red are individuals that have known links to senior staff members in News Corp. More on this later. + +&#x200B; + +## 3.2 Imperium3 New York (or IM3NY) + +**IM3NY** is an American consortium that is currently building out an US EV Battery supply chain, with access to unique **cobalt-free LiBs that** **outperforms current LFP batteries in density and charging times**. + +**So what is the vision and USP of IM3NY?** + +* they aim to produce one of the greenest and highest performing LiBs in USA at GWh scale for the EV and Grid Storage markets. The first factory location will be the [Huron Campus, Endicott, NY](https://www.magnis.com.au/significant-news/new-york-lithium-ion-gigafactory-to-be-in-huron-campus-the-birthplace-of-ibm). This campus can support up to 5 GWh of production capacity which is in the works. +* they have exclusive US license to C4V's innovative and world leading cell chemistry for North America EV production. More about these cells in the C4V post. +* **already fully funded for 1.8GWh production** + +IM3NY has a well credentialed leadership team on the project: + +* **Dr Shailesh Upreti**: Chairman. Also the President, battery exprt and largest shareholder from C4V. +* **Chaitanya Sharma**: CEO. Former senior engineer with Tesla at Nevada Gigafactory. +* **Mike Driscoll**: CFO. Deep experience in manufacturing. +* **Bill Shannon**: COO. Deep experience at battery plants of Energizer, Panasonic, Duracell. +* **Paul Stratton**: SVP Marketing and Sales. Experience with senior development roles in Duracell and Gillette. + +Below is the manufacturing process that will be used to make the IM3 LiBs. + +[It is worth noting that due to the formation and aging steps of the first at scale batch requiring extra time, there may be a couple of months in news lag between factory line completion, battery cells 'produced' vs 'delivered'.](https://preview.redd.it/2hllkk86xn281.png?width=1091&format=png&auto=webp&s=36b5a8d74cfbf5633cb652d552ed13fd4665eacf) + +**Customers** + +Total minimum offtake value as of 2021-10-15 is $655 million USD [based on this ASX query](https://hotcopper.com.au/threads/ann-response-to-asx-query-letter.6332666/) + +Below are the known customers so far (some with minimum amounts in binding offtake): + +* **Sukh Energy (India)**: $243 million over 5 years +* **Omega Seiki Mobility (India)**: $160 million over 5 years +* **US Department of Defence**: details undisclosed +* **NYSERDA**: details undisclosed +* **\~30 more customers** going through qualification. Major EV makers in play + +&#x200B; + +**Factory Progress** + +https://preview.redd.it/qji4r5w7xn281.png?width=1077&format=png&auto=webp&s=b2a30f7339c1290590e99dc93ddff73c6a73606d + +**Upcoming milestones** + +* **Semi-automated production** *expected Q4 2021* +* **US Listing or Private Capital for 10GWh scale growth** *expected Q1 2022*. This is not Magnis being listed on OTCQX, but rather IM3NY itself. +* **Fully automated production at scale (1 GWh capacity)** *expected within 2022* + +&#x200B; + +**Why IM3NY is a great choice by Magnis over other upcoming EV-related projects?** + +* **US-centric LiB maker**. Zero dependency on China along the manufacturing supply chain +* **Technically sound and appropriately experienced leadership**. +* **Strong Government relationships**. NY Electric bus program, Defence contracts and a reputable director (Mona Dijani) with experience working with/for Department of Energy. Access to US Infra Bill subsidy for IM3 likely. +* **Quality ESG program**. +* **Strong focus on battery and manufacturing safety**. + +&#x200B; + +## 3.3 C4V + +Charge CCCV LLC. (C4V for short) is a cell chemistry company founded by Shailesh Upreti and Robert Dobbs. That have been developing and patenting next generation LiBs (including solid states) with certifications for over a decade. Shailesh is personally mentored by Prof. Whittingham. **Magnis has a 10% stake in C4V***.* + +**C4V Battery Cells' USP**: + +* 3 generations of advanced battery cells in various stages of piloting and commercialisation. +* Patented Cell Designs have already been provably adapted for entry-level and short range EVs, stationary (grid) storage, and military applications. +* **BMLMP cell chemistry**, which means ***No cobalt or nickel*** needed. +* **Developed one of the world's first working prototype of a commercial Solid State Battery.** +* **Long cell life and charge retention**: >95% charge retention at over 2000 cycles tested. +* **Extra Fast Charging capability**: over **85% recharging at 6 minutes** and 1 hour discharge maintained over 1000 cycles. This is rare amongst currently produced LiBs. +* **Price competitive**: BMLMP will be 10-15% due to no cobalt/nickel. Comparable to LFP batteries that Tesla and VW are moving towards +* Their closest competitors technically is Quantumscape. + +[C4V cell chemistry comparison to peers](https://preview.redd.it/yh6b8ml9xn281.png?width=997&format=png&auto=webp&s=fbf60cc80ae4489d944f16795884fb675219b3b2) + +&#x200B; + +**C4V Team (key staff)**: + +* **Dr Sheilesh Upreti (CEO, also Chairman at IM3NY)**: over 20 years of experience in developing and commercialising LiB cell technology. Authored 100 well-cited articles in journals, 25+ US/International granted patents. +* **Darryl Wood (CFO)** : ex HSBC and UBS for 20 years. +* **Kuldeep Gupta (VP Strategic Partnerships)**: >10 years working in energy sector. +* **Grace M. Pezzuti (Project Coordinator)**: IBM for 17 years +* **Tingting Zhang (Senior Battery Engineer)**: PhD in Materials Science and Engineering. 8+ years in Prof Whittingham's team. +* **Also Chaitanya Sharma (Board Advisor)**: while his focus is IM3NY as CEO, he works closely with C4V. + +**Collaborations**: + +C4V has many partnerships and collaborations for their cell chemistry and design. Below are just a few known ones: + +* **US**: [ABTC](https://www.greencarcongress.com/2021/11/2021109-usabc.html), [SIEMENS](https://www.chargecccv.com/updates/detail/2), +* UK: [MARTAC](https://www.manmonthly.com.au/uncategorised/new-lithium-batteries-deployed-uk/) +* **India**: [Epsilon Advanced Materials](http://www.uniindia.com/epsilon-advanced-materials-signs-mou-with-c4v-to-strengthen-india-s-domestic-supply-chain/business-economy/news/2564125.html), [Omega Seiki Mobility](https://www.outlookindia.com/newsscroll/c4v-bags-contract-from-omega-seiki-mobility-to-supply-nextgen-lithiumion-batteries/2160117) + +&#x200B; + +## 3.4 Nachu Graphite Project + +Magnis fully owns a world class shovel ready graphite deposit in Nachu, Tanzania. It houses 240ktpa of jumbo flakes with a 15 year ROM, total 174 MT @ an estimated 5.4% Graphitic Carbon reported in accordance with the 2012 Australasian code for reporting exploration results, mineral resources and ore reserves (JORC). + +https://preview.redd.it/zrix61bbxn281.png?width=685&format=png&auto=webp&s=c0fe18009c9c41f84b0bb5e3501a2ec60a6fda69 + +Relocations of local inhabitants are almost complete including construction of alternative accommodation. A binding contract with MCC has been signed for construction of the mine. A Bankable Feasibility Study conducted in 2016 with **NPV 10% of $1.69b with Internal Rate of return (IRR) of 98%**. This remains unchanged since 2016. + +&#x200B; + +## 3.5 IM3 Townsville + +Magnis Energy Technologies **owns 33.3% of iM3TVL** (or IM3TSV), a consortium with itself, C4V and Boston Energy and Innovation. It has the sole licence for C4V technology in Australia. + +The gigafactory has passed a financial decision to proceed to the next level, and is expecting construction to commence in 2022. According to a **completed feasibility study**, **3 stages for the 18 GWh are recommended** at 6 GWh each\*\*. NPV is AUD 2.55b with IRR 21%. + +**IM3TVL is not expected to progress till mid-2023 or later**. + +&#x200B; + +## 3.6 The Australian articles, HotCopper Wars & the ASIC raid; how to apply critical thinking to analyse the situation + +The biggest risk factor in most traders and investor’s minds is the news articles published in the past 2 months that seems to be unearthing a lot of dodgy history within Magnis and its chairman during the great re-shuffle period as well as criticising more recent updates. + +M**y conclusion is that most of the allegations/negative rumours are unfounded** or at least not as simple as ‘Frank bad, Magnis dodgy’, and **those throwing the dirt have ulterior motives or deep connections with former Magnis board members**. I'm sure what most people want to understand is why I'm still on the side of Magnis despite all this negativity. + +I will cover my direct counter-investigations to all the claims in these articles in my FAQ comment (post word limit etc.). here I'll just provide my methodology to critically thinking and truth finding about these allegations. + +&#x200B; + +**Consider the motive of all parties in the ring** + +There are several groups in this whole fiasco: + +* **Magnis and Frank.** +* **The Australian journalists.** Their primary goal is to write articles and subscribers for News Corp. +* **Ex-directors who provided The Australian with insider info.** We don't know who talked about what but it's clear they had to be former insiders during the period of the alleged conducts. Similarly the ASIC raid would've been only known to the party that raised a concern/complaint. +* **Shareholders commenting on social media (Twitter and HotCopper).** Their goal is simple; protect their investment from being downramped unfairly. This includes me. +* **HotCopper and The Market Herald:** TMH's founder Jag Sanger has a bad history with Frank; has both motive and opportunity to manipulate discourse on HC through moderation. I was collateral damage, permanently suspended for posting DDs like this one (no TOU breach). +* **Investors considering to buy in.** anonymous voices stirring on social media to downramp the stock even if they believe Magnis is innocent of the allegations. Cheaper buy-in then when the dust settles it re-rates to fair value again. Profit! + +&#x200B; + +**Consider the relationship of those talking and those silent** + +One of the biggest theories amongst LT holders who know Magnis quite well is that ex-directors with sway do not want Magnis to succeed and are pulling strings to keep sentiment on the company down. + +If you refer back to the timeline diagram of board members, note that several ex-directors have been highlighted in red. These are individuals that, with a bit of digging, you will identify as having close links to or even friendships with members of Murdoch media. James Dack for example has been [given nice life story articles](https://www.dailytelegraph.com.au/news/nsw/former-real-estate-giant-james-dack-takes-role-with-magnis-energy/news-story/ce3ab16d921efd6ed19798ba5d8f34dd) by Daily Telegraph staffer Annette Sharp. She also reported on his departure. + +These relationships is evidently mostly hidden and the causality unprovable, but given that ex-directors who leave unceremoniously are often not happy with their former employer, it's worth considering some bias in the reporting choices of the outlets with friendships to them. + +&#x200B; + +**Consider the timing of the publications and ASIC raid versus the timing of the reported activity** + +Some of this information that has been provided to The Australian was about activities back as far as 2018 (such as the photo of Peter Tsegas with allegedly. Why only disclose it when the SP begins to rocket? + +Also the ASIC raids happened months before the news articles began to surface, around the same time short selling picked up. The latter might just be a coincidence since short sellers always target rockets on the ASX, but the former could be a case of ASIC having already investigated/raided and didn't conclude wrongdoing, so whoever raised the original complaint decided to take the media route to still do some damage. + +&#x200B; + +**Consider what Magnis/ASIC/AFP can even disclose when countering allegations** + +ASIC and AFP [are NOT allowed to disclose the outcome of an investigation](https://asic.gov.au/media/4267241/public-interest-disclosures-policy-and-procedures-published-24-may-2017.pdf), only the fact that they are indeed investigating a company or individual through an RFI. This means if Magnis and Frank are 100% innocent the most we get from them is silence. However The Australian can now endlessly use the zinger "ASIC investigated Magnis chair". + +Similarly MNS may be under NDAs to stay quiet on certain matters; unable to defend themselves in some instances even if innocent. + +&#x200B; + +**Consider what is absolutely real and externally verified** + +Always look for alternative news sources and data when trying to determine if the claims about Sukh Energy being broke or Mona Dijani NOT being connected to Department of Energy. + +The Australian doesn't provide primary sources which puts the onus on us to do so. I'll share my sources in the FAQ section for at least some of the allegations. + +&#x200B; + +**Consider the worst case scenario and its impact on MNS** + +As IM3NY is fully funded now with a long line of customers. The only role Magnis really plays is be a majority shareholder. As long as that stake isn't fraudulent (which it clearly isn't given Prof Whittingham is a long term NED & Magnis is clearly marked as a IM3 and C4V partner on both their websites and recent slide presentations. + +Thus worst case, Frank/Peter is guilty of something and ASIC suspends them from directorship, after a bit of calming down, MNS would then be re-rated to its US-based project value and less enemies. + +&#x200B; + +## 4 - So…Bullish? Bearish? Scam? The American CATL? + +Setting aside the concerns with more attack articles from News Corp, and lets operate under the assumption that what Magnis is holding in IM3NY and C4V is legitimate, what is MNS worth and where do I think the SP will be? + +To do this I consider 3 aspects: Financials, Project/Sector Risks and Valuation methodologies. + +&#x200B; + +## 4.1 MNS Financials + +MNS has over $70m in cash and over $100m in Assets + Equities, which is enough to fully fund the IM3NY battery plant buildout to fully-automated cell production at 1.8GWh and to keep their own lights on for years. This is an excellent position to be in. + +However the cash came from an expensive CR process that included a number of shares and options issued, and a ST debt that needs to be repaid in 4 years with an interest rate above 10% p.a. + +[Image Source: simplywall.st](https://preview.redd.it/2lzzmo4dxn281.png?width=817&format=png&auto=webp&s=76ec9a36ccb733d8dd1ab126fd2b759dbc3a76a2) + +In addition to the 40c and 50c options yet to be exercised, there are a number of tranches for performance rights (free shares for certain directors) being issued at the $1b, $1.5b, $2b and $2.5b market capitalisation milestones. In the big picture not a big deal but worth being aware of. + +[Dilutionary factor given all classes of shares converted to ordinary](https://preview.redd.it/iw89v4jfxn281.png?width=698&format=png&auto=webp&s=8974c9291e73f69c01653faea939927d95ec3615) + +Also of note is that Frank himself holds 13m shares. + +&#x200B; + +## 4.2 Risks + +As always it's important to understand the circumstances and scenarios that could cause a setback in the company's growth/success/valuation. We've already discussed the local media and Magnis risk. What about the projects/holding entities themselves? + +**Key risks for IM3NY:** + +* **Delays in reaching autonomous production**. Barring another COVID-level interruption, any delays from their own timeline would not instil confidence in the capabilities of the leadership to running an actual business (as opposed to great R&D) +* **Major EV makers favouring vertical integration.** +* **Major EV battery producers also rapidly ramping up production capacity to meet global demand**. +* **Overexposure to American politics**. Not that we have it better here. +* **Financial model (profit margin) not yet complete**. IRR is typically 20-25% for LiB makers. +* **On-site Accident or other incidents**. +* **Battery Defects requiring recall**. + +&#x200B; + +**Key risks for C4V:** + +* **Lack of short term interest towards a new battery chemistry.** This is important to consider as front runner EV makers such as Tesla and VW as they have announced in big events their pivot towards LFP in the short term. HOWEVER with our Indian offtakers there's no issue of lack of sales; just maybe not the sexist market right now in the eyes of western investors. + +**Key risks for Nachu Graphite Mine:** I'll put my discussions in the FAQ comment for this + +**Key risks for IM3TSV**: **It** **doesn't happen**. That's okay as I do not think they will come into play till 2023 or beyond. + +&#x200B; + +## 4.3 Valuation, Price Targets based on everything above + +This is absolutely speculation, but is needed if you want to know when you should exit. I’ll break down what I consider when arriving at my valuations (plural because I have multiple approaches): + +**Base Assumptions (bull case)**: + +* Factory will be completed on time and **reaches a 1GWh annual production rate by EOY 2022**. +* All options exercised and performance right tranches issued (share dilution realisation) +* **Magnis stake diluted to 50.1%** due to IM3NY public listing/SPAC Q1 2022. +* C4V’s BMLMP cells continues to demonstrate competitiveness to LFP cells currently used. +* IM3NY goes public in Nasdaq or NYSE by Q2 2022 +* **USD to AUD conversion rate of $0.7 to $1** (for AUD SP) +* **SP Target is for June 2022.** + +**Influences**: + +* Biden's climate agenda (Infrastructure Bill passage), +* Glasgow summit/pact +* Indian connections and US-China trade tensions. + +**MC Approach** + +1. **Most optimistic** (Magnis' version, CATL and Quantumscape as peers): \~$6b or \~$5.60 SP +2. **Most conservative** ($1b/GWh and 25% of C4V IP value discount): \~$1.5b or \~$1.35 SP +3. **‘Realistic’ target** ($2b/GWh + 50% C4V IP discount): \~$3b or #2.7 + +**US-style unicorn mixture model approach for IM3NY** + +1. 1-3 years of forward growth priced in (1.8 GWh vs 5 GWh) +2. PE Ratio of 20:1, 30:1 or 50:1 (we know average EV Battery plants' IRR is about 20%) +3. US Infrastructure Bill subsidy of $150m, $250m or $500m received (improves IRR for first 5 years; accelerates expansions) +4. EV Battery price of $100 vs $120/kWh (affects financial model too) +5. Add static $250M AUD valuation for C4V +6. **Most optimistic (take the right parameters)**: \~$4.95B or $4.50 SP +7. **Most conservative (take the left parameters)**: \~$0.81B or $0.75 SP +8. **‘Average’ target (take the middle)**: \~$1.85B or $1.65 SP + +[Summary of the min-max-med SP predictions for MNS using valuation simulators. Geometric mean is IMO most likely Bull Case](https://preview.redd.it/s0v3hbd9io281.png?width=700&format=png&auto=webp&s=43dce2b52eb3623df0681c0f64c47d0471bddbd1) + +**Additional factors that could add a premium to valuation I did NOT incorporate to my model**: + +* US-centric supply chain (if China or other SEA reduces EV battery exports IM3NY wins hard) +* C4V’s Gen 2 and 3 Solid State batteries (no data to say if they compete well with other SSB plays but could be another game-changer in later part of this decade) +* Nachu or IM3TVL projects are omitted from valuation model. + +&#x200B; + +## 4.4 The Bottom Line + +I hope I have been able to be as balanced and un-pumpy about MNS here. My conclusion is obviously that it's a buy and hold beyond the current storm, at least to mid-2022, if not longer. There is risk and if those big ones materialise of course it would mean SP targets won't get reached. What I've provided is really still fairly high level. DYOR as always as this isn't financial advice. + +At the very least I hope the LiB sector info and approach to research/analysis is useful to y'all and even if you don't choose to invest in MNS that's 100% fine. + +MNS just one play in a large and diverse marketplace. But I think being a Magnis holder through the current situation is an excellent training in mental resilience, research skills, critical thinking and decision making under uncertainty. Just for these things, it's worth the play till I find something truly better. +We just went under contract on a place that was listed as being 1950 SQ ft. It's actually 2560. Seller and their realtor didn't bother to verify. Basically scored an extra 350k equity due to their lack of due diligence. Today is a good day. Man I love real estate. +Thanks everyone for sharing your experiences and the lessons that you've learned from your mistakes and successes. The thread is still open if you want to share. +Please keep sharing the knowledge with the r/investing community. + +I'll be sure to make a summary of the main themes and points that were repeating in the many stories and lessons shared so far in a follow up post. +I really don't get it. I first bought bitcoins in 2011 and I spent them, and yes, you can call me stupid because now, they would have worth way more. + +But I thought the point of bitcoin was to escape from fiat, banks, central banks and all this state corruption. + +But everyday, on every subs, on every twitter, someone wish his bitcoin were going to the moon. So what's the point, what's the goal ? Are we all going to cash out one day to enjoy our euros, dollars or yens ? + +I may be very stupid but I thought that we were building some kind of new world where, one day, fiat would not worth anything because we could buy eveything we want with our cryptos. + +But I'm probably too stupid. The proof is that - disclaimer - I don't have my driving license, I dont' want it and I don't want Lambo too. + +Again, sorry for my english, not my native language. +Hello Value Investor, + +So as Microsoft announced today it is going to acquire Activision Blizzard for $ 68.7 billion. + +The deal is going to be done in 2023 if there are no problems. + +Now I have some questions. + +1) Microsoft paid $ 95 per share so why is a stock trading less than the purchase price? + +2) Microsoft paid 68.7 billion, so for what I do 95 \* total number shares outstanding I get a result of 73.9 billion + +What am I missing here? +In my last post, I asked for your best Value Investments right now. The most common names were: BABA, INTC, FB, THECY, MU, MMM. etc. But... I got a lot of interesting ones I hadn't heard of before. The companies below are from your suggestions, but I have taken a quick look at them and taken the most promising ones. If you have any input on any of these stocks, please comment, and lets find the next 10 baggers! + +AN + +SNBR + +ASO + +HIBB + +TROW + +QDEL + +PGR + +SID + +REGN + +GILD + +HIMX +My friend was saying he expects higher than usual inflation due to higher government spending, but that it shouldn’t make much of a difference in his spending or investment decisions if his wages increased as well. Is this right? Or is the problem that wages usually don’t keep up with inflation? + +His point was that if inflation goes up and his wages goes up things even out. Stocks go up, debt goes down. + +So how might this kind of inflation actually affect us? +This is going to be a long thread with every event from last August on how Binance has stolen my grandfathers money, how they fuck you around, and why you shouldn't do business with them. Here we go. + +&#x200B; + +**July 17th, 2020:** + +Signed up on Binance, compeleted Basic verification. + +&#x200B; + +**August 12th, 2020:** + +Advanced Verifiation Successful + +Fiat Account Verification Successful + +Started Wire for $100,000 + +&#x200B; + +**August 14th, 2020:** + +Sent the wire of 100k from the bank + +Got an email saying they got the wire + +Go to login, and the account is disabled + +Got an email saying they accepted the wire + +Tried to reactivate and got an email saying + +> Your request to reactivate your account has been denied for the following reason: 7\_DAYS\_REFUSED + +&#x200B; + +**August 15th, 2020:** + +Sent them an email asking why the account got disabled. + +&#x200B; + +**August 17th, 2020:** + +Got a reply finally which said + +>Hello, +> +>Thanks for your reply! +> +>In order to assist this further, please reply with the following information: +> +>1) Video of you holding your ID along with them stating the following: "My name is XXXX YYYY, today is \[Today's Date\], I confirm that I'm in control of my Binance.US account and that I accept the terms and conditions." +> +>2) Most Recent Bank statement of the account utilized +> +>We look forward to hearing back from you soon! +> +>Best, +> +>Kai +Binance.US Support + +&#x200B; + +**August 19th, 2020:** + +We made the video and sent it in. This is in hindsight, a mess up on our part, as he sent the wire from his closed bussiness account, which is now a personal account to him. The assets of the company were sold, but obvisouly the bank account is still his. You don't sell you bank account with a business, that would make no sense since a dollar == a dollar. But this is what we replied with. + +>Attached is the video. I'm having trouble with attachment size, as it only allows up to 25mb, so I have to send the bank statement in another email. I had to make the video 720p. I'll also like to add that R\*\*\* Electric Construction Inc was my business but is no longer going since I've retired. Please see next email for the Bank Statement. + +&#x200B; + +**August 21st, 2020:** + +Didn't hear from them, so we sent another email + +>Sorry to reply again. Just trying to think of what it means about the 7 DAYS REFUSED, and the only verification that took a long time was the Advanced Verification, because I only had it half done for a week, I have quite a few emails about it saying failed during that time it wasn’t complete. I eventually finished it and have the email saying it was successful. Then I completed the Fiat Verification as well. I need the reason why it failed and what verification it was, so I know what to do. Does it have anything to do with the wire itself? If I can’t get verified for what ever reason, how do I get my money back? I’d like to just get this done and use your exchange. I’m getting worried, as I have no clue why my account was locked in the first place.  + +&#x200B; + +**August 24th, 2020:** + +Got a reply from them. + +> Thank you for letting us know. Our team is still reviewing your request and will update you as soon as possible. + +&#x200B; + +**August 29th, 2020:** + +>Following a recent review of your Binance US account, we regret to inform you that we will no longer be able to service your account with our firm. We are closing your account in accordance with our customer terms of service agreement that you agreed to upon opening your account. This decision was based on numerous factors including but not limited to our firm’s commitment to abiding by all Federal and State regulations and following all company processes and procedures. + +> +>We will need the following to initiate a return by wire transfer of the funds currently deposited on your account. Please provide: +Your Bank Name +An active Bank Account Number with that bank +The account holder name needs to match the name of the BAM account holder + +&#x200B; + +**September 1st:** + +We sent the info they were asking for, can't show it for obvious reasons. + +&#x200B; + +**September 11th:** + +No reply still, so we sent them an email + +> Hey, I still haven't received the funds back, and I haven't got anything that says you have sent it back to me. Just checking up on what's going on. + +Got an automated reply, as if they ticket got wiped out. + +>Hello, +> +>Thanks for reaching out - we're here to help! Our team is looking into your issue and will be responding to your original request soon. +> +>While we follow up on your issue, feel free to check out our frequently asked questions [https://support.binance.us/hc/en-us](https://support.binance.us/hc/en-us) +and blog [https://www.binance.us/en/blog](https://www.binance.us/en/blog)! +> +>Thank you and we will be in touch soon! +Binance.US Team + +&#x200B; + +**September 13th:** + +Get an email from another automated reply + +>Hello, +> +>Thanks for reaching out - we're here to help! Our team is looking into your issue and will be responding to your original request soon. +> +>While we follow up on your issue, feel free to check out our frequently asked questions [https://support.binance.us/hc/en-us](https://support.binance.us/hc/en-us) +and blog [https://www.binance.us/en/blog](https://www.binance.us/en/blog)! +> +>Thank you and we will be in touch soon! +Binance.US Team + +&#x200B; + +**Septemeber 14th:** + +Got a reply from them + +> Hi there, +> +>We will need the following to initiate a return by wire transfer of the funds currently deposited on your account. Please provide: +> +>Your Bank Name +> +>An active Bank Account Number with that bank +> +>The account holder name needs to match the name of the BAM account holder +> +>The information you provided us does not have a name that matches your Binance US account.  +> +>Best, +> +>Lando + +&#x200B; + +\*\*\*That is right, they asked for the same exact info we already sent them. + +This time we sent the same info, but explained how the bank account was his old bussiness. + +>My Binance account used my name XXX XXX, and I sent the wire transfer from my now closed companies bank account, R\*\*\* Electric Contruction. I hope that that isn’t a problem.  +> +>Please get back to me if there is a problem. If I have to prove I own the R\*\*\* Electric bank account, I can do that.  +> +>Thanks.  + +&#x200B; + +Got a fast reply from them: + +> Hi there,  +> +>Could you please provide us with a bank account in your name: XXX XXXX +> +>We are unable to wire funds back to an account that does not have XXX XXXX attached to it. +> +>Best, +> +>Lando + +&#x200B; + +No clue why they are trying to send back money to a totally different bank account than where the money came from but **we sent all the infomation to them for one of his personal bank account.** + +&#x200B; + +**September 15th:** + +Got a reply + +> Hello, +> +>The responsible team is now reviewing this, and we'll get back to you as soon as we can. +> +>Best, +> +>Lando + +&#x200B; + +September 18th: + +Haven't heard shit back from them. Looks like it takes them over 3 days to read two sentences. Sent them an email + +>Hey, it’s been a couple days since I last heard from you guys. If there is a problem with the information for the return wire, please let me know. I think signing up with my personal information then sending the wire transfer from my, now closed business R\*\*\* Electric, messed this whole process up. It’s been over a month, please keep me up to date.  +> +>Thanks + +&#x200B; + +**September 23rd:** + +This is where big dog Biggs comes into play + +> Hi- + +> +>We're looking into it now. +Sorry for the delay.  + +> +>Best, +> +>Biggs +Binance.US Support + +&#x200B; + +> Hello Mr. XXX XXXX, + +> +>Thank you for reaching out to us and if you can please help us with some information so that we can properly get your funds back to you. + +> +>\- Why did you wire the funds from a Business account? +\- Is R\*\*\* Electric Construction, Inc still in business? If so why was that account closed and do you have a new account opened? +\- Can you provide us with documents showing that you are the owner of R\*\*\* Electric Construction, Inc? +\- Written explanation of the various locations that you logged into Binance.US from? + +> +>Best Regards, + +> +>Binance.US- Support Team + +&#x200B; + +We replied saying: + + + +>1. My grandson is helping me with buying Bitcoin. He helped me signup, then left it to me to make the wire deposit. I didn't know it would be a problem send the wire from the R\*\*\* Electric bank account. + +> +>2. R\*\*\* Electric is no longer in business. I sold R\*\*\* Electric Construction to a company called XXX XXXX over a year ago. They bought the assets of the company, not the bank account, or my building. They don't use the R\*\*\* Electric name. I have the settlement statement attached. The bank account is still opened, and is the same account that I used when the business was in operation. + +> +>3.  There is the Asset Purchase Agreement (APA) and the Settlement Statement attached from when I sold the company. I hope this is sufficient. + +> +>4. I think there would be two locations. First one would be \*\*\*, which is where my shop is from when I had ran R\*\*\* Electric. Then the second location would be at my grandsons house in \*\*\*. We signed up for Binance and did the verifications from my shop, then the day the wire deposit was transferred, my grandson tried to login from his house to help me out with buying Bitcoin. Since then the account has been locked. + +> +>Thanks +> +>Sent with [ProtonMail](https://protonmail.com/) Secure Email. + +&#x200B; + +**September 23rd:** + +> Hello, + +> +>Thank you for providing us with this information. + +> +>We've escalated your request to the responsible department to review. + +> +>We'll respond as soon as we can with an update. + +> +>Regards, +CS Luke + +&#x200B; + +**October 4th:** + +> Hello Laurence, + +> +>So sorry for the delay in our response! + +> +>Can you please provide us with the most recent bank statement from the corporate account showing that you are an authorized signer for that account? + +> +>Additionally, can you also provide us with your last bank statement issued by Greenwood Credit Union? + +> +>We look forward to your update and to assisting you with this further. + +> +>Best, +> +>Kai +Binance.US Support + +&#x200B; + +&#x200B; + +**October 21st:** + +It took a little for my grandfather to get the information together, but we got everything together and sent it. + +>Hey, I have gathered all the information you need I would think. All documents are in the same PDF. Please see attached file.  + +> +>Thanks + +Response from them: + +>Hey Binancian, +> +>Thank you for contacting Binance.US Support. +> +>We've received your request and our friendly support team is reviewing your email, and we'll get back to you as soon as we can. In the meantime, we invite you to check out our FAQ and Social Media channels for more information: +> +>If you have any question regarding our Account Verification process and Security tips: +[https://support.binance.us/hc/en-us/categories/360003712873-Account-Verification-and-Security](https://support.binance.us/hc/en-us/categories/360003712873-Account-Verification-and-Security) +> +>You can find out everything you need to know regarding Deposits & Withdrawing assets here: +[https://support.binance.us/hc/en-us/categories/360003676674-Depositing-and-Withdrawing-Assets](https://support.binance.us/hc/en-us/categories/360003676674-Depositing-and-Withdrawing-Assets) +> +>All information regarding our Trading & Fees can be found here: +[https://support.binance.us/hc/en-us/categories/360003676634-Trading-and-Fees](https://support.binance.us/hc/en-us/categories/360003676634-Trading-and-Fees) +> +>More information regarding our Blog & Social Media channels can be found here: +Blog: [https://binanceusl.ink/blog](https://binanceusl.ink/blog) +Telegram: [https://binanceusl.ink/telegram](https://binanceusl.ink/telegram) +Twitter: [https://binanceusl.ink/twitter](https://binanceusl.ink/twitter) +Instagram: [https://binanceusl.ink/instagram](https://binanceusl.ink/instagram) +Facebook: [https://binanceusl.ink/facebook](https://binanceusl.ink/facebook) +> +>We look forward to assisting you! +\- Binance.US Support Team + +&#x200B; + +**October 29th:** + +Haven't heard anything so we sent them an email + + + +>Hey, I am just checking on the status of the return wire. It has been almost a week since I got an email saying you guys we're reviewing it. + +> +>Thanks + +&#x200B; + +**November 1st:** + +> This is being reviewed! Thank you.  + +> +>Best, +> +>Biggs +Binance.US Support + +&#x200B; + +**November 5th:** + +> Hello, + +> +>Thank you for reaching out to us, and we apologize for the delay. + +> +>We appreciate your continued patience regarding your Cash Account Verification. + +> +>Please rest assured, we are working expeditiously on this issue and have escalated this to our payment processor, Prime Trust. Your application is currently under manual review. All applications are reviewed in the order they are received. + +> +>I cannot give any specifics to the timeline of your review; however, as soon as there is a status update regarding your application, we will reach out to you via email. + +> +>Again, we sincerely appreciate your continued patience, and we will reach back out to you with an update as soon as we receive one. + +> +>Respectfully, +Leia +Binance.US Support Team + +&#x200B; + +Patient we we're for almost a month with no response + +&#x200B; + +**November 22nd:** + + + +>It has now been a whole month since I have sent you all my information proving that I own the R\*\*\* Electric bank account. It has been exactly 3 months now trying to get my money back. What is the problem here? I am losing my patience, how would you like it if a company locked your account and wouldn’t give you your $100,000 back? Why did you accept the wire transfer only to close my account a minute later and make me fight for my money? If within the minutes of you accepting the wire transfer and locking the account, that means you knew that you shouldn’t have accepted it. You guys are playing with me. It doesn’t take a month to review 5 pages of info and send a wire transfer. Do I need to buy a plane ticket and pay you a visit? Email doesn’t seem to be working too well. I have a cousin in California who is a judge as well and will take legal action. I didn’t want to play this card but I have no choice left, if this goes for another week. I want my money back. And where is the harm in sending back money exactly where it came from? I really don’t see why you have dragged this on for so long. Am I being targeted being over 80 years old? Are you waiting for me to die to keep the money?  +> +>Don’t give me a one sentence response. I want full detail of the matter and an estimation of when that money will be back in the Ryan Electric bank account. For all I know, I am getting bullshitted by you guys, and you may not even be doing anything to fix this. Just keep dragging it on for another year, maybe I’ll be dead by then. + +&#x200B; + +Well well well, you send them a nasty letter and they are right on top of it. + +> Hi- + +> +>I'm really sorry about the delay here, somehow this ticket was pushed back in our queue. We are definitely handling this and I reminded the team as well. They did ask for one more thing, can you get a note from your bank stating that the R\*\*\* Electric corporate account was closed? We will need that to proceed. I will be handling this going forward, don't hesitate in asking questions and I'll make sure I answer them in a timely manner. Thank you and again, apologies on the delay here.  + +> +>Best, +> +>Biggs +Binance.US Support + +&#x200B; + +This dude is acting like he is here to help, and he had us fooled. Anyways we apologized for that email. + +> Thanks Biggs. Sorry for my rant, I appreciate the response. The R\*\*\* Electric Corporate bank account is still open as I am still chasing invoices from when I was in business. The business itself is closed.  + +&#x200B; + +**November 23rd:** + +> Hi, + +> +>It's completely understandable. I need to follow up with the other team, just left them a memo and will touch base when I hear back. Feel free to message me if you do not hear from me tomorrow, but I expect to have an update then.  + +> +>Best, +> +>Biggs +Binance.US Support + +&#x200B; + +> Hi, you should be good to withdraw now. Let me know if you have any trouble doing so and apologies on the delay here. Thanks.  + +> +>Best, +> +>Biggs +Binance.US Support + +&#x200B; + +whooo big relief, so we think... + + We replied with + +>Thank you so much, this is a big relief. I thought the account was going to remain disabled, but it seem like everything is normal on the exchange. Could I continue doing business with you guys and use your exchange now that things are settled? + +> +>Sent with [ProtonMail](https://protonmail.com/) Secure Email. + +&#x200B; + +Biggs replied + +> Dear Mr. XXXX, + +> +>We are sorry about the delay and inconveniences we may have caused, but sadly we are going to stay firm on the decision made on Aug 29th. We kindly request you to withdraw the funds from the account in the next 72hrs.  + +> +>If you experience any issue with the withdrawal, please don't hesitate to contact us and we will help you as soon as possible.  + +> +>Best, +> +>Biggs +Binance.US Support + +&#x200B; + +From here, we have nothing but problems trying to do a wire withdrawal. Sent him an email. + +> When I go to the wire withdraw page, it has my name locked in and I can't change it to R\*\*\* Electric. Should I just wire it to my Greenwood Credit Union account instead, or do you think the wire will work with my name? + +&#x200B; + +> Greenwood Credit Union sounds like your best bet then.  + +> +>Best, +> +>Biggs +Binance.US Support + +&#x200B; + +So we try it, and it's not working, we sent an email to him again. + +> I started the wire, but I haven't received the confirmation email from Prime Trust. It's been around 20 minutes, checked my spam and everything. I added [info@primetrust.com](mailto:info@primetrust.com) to my contacts, not sure if that is the email to whitelist or not. Should I try to do another wire withdrawal? + +&#x200B; + +His response + +> I just asked the team if they sent one out or not, I will let you know what I hear.  + +> +>Best, +> +>Biggs +Binance.US Support + +&#x200B; + +**November 25th:** + +Wire isn't working, tried a bunch of things but the confirmation email never gets sent to confirm and start the withdrawal. + +> Hey, I went to the account and under withdrawals it said failed, but like I mentioned I never got the email to confirm it. I tried again, and the same thing is happening. I attached some screenshots. + +&#x200B; + +**November 27th:** + +>Hey Biggs, I’m not sure what to do about the wire transfer. I triple checked all the information and I know it’s correct. It knows the bank name automatically once I enter the information, which means to me the routing number is correct. It says failed under the status for each try I did. Even right after I put the info in, I never seen it say pending, or open, just failed. I’m not getting the email to confirm that I want to withdraw, so I don’t think your team will ever get it. I tried to use the checking account number instead of my savings and that didn’t work either. I can’t change the name of the wire to try to send it to the R\*\*\* Electric account, so I’m not sure what I should do. If you would let me buy DAI then get off your exchange, that would work, but don’t know the legality of that. Let me know, it’s been over that 72hr limit and I’m not sure what to do here.   +> +>Thanks + +&#x200B; + +His response + +> Hi, still looking for a solution here, don't worry I'll make sure it gets handled. Thanks.  + +> +>Best, +> +>Biggs +Binance.US Support + +&#x200B; + +**December 2nd:** + +> Can you try whitelisting this email then trying again? + +> +>[no-reply@primetrust.com](mailto:no-reply@primetrust.com) + +> +>Best, +> +>Biggs +Binance.US Support + +&#x200B; + + Still doesn't work, sent him a reply + +>The same thing is happening. Is it normal for it to say failed under the status on the withdraw page, as soon as you submit it? + + +&#x200B; + +Stuck in limbo, I tried to so a wire withdrawal 6 times, different banks, and even different account numbers for each bank. Never worked. + + + +>Hello Biggs, I have tried to withdraw to another bank account, this time with Washington Trust, and the same is happening as the other bank. What can we do here? Doesn't seem like wire withdrawals are going to work. + +> +>Sent with [ProtonMail](https://protonmail.com/) Secure Email. + +&#x200B; + +**December 6th:** + +**THIS IS THE REAL KICKER OF THE WHOLE STORY, GET A LOAD OF THIS SCHEME.** + +A little background here. I didn't try to do ACH originally because my grandparents are scared of online banking. I sent this email asking about doing ACH and if it is alright, and in the mean time, convicted my grandparents to sign up for online banking with Washington Trust, since that was the only bank that they have that was on Biances ACH list. + +Mind you the account has been active now for a couple months, with withdrawals only enabled. + +**December 6th:** + +>Hey Biggs, my money is still on the exchange and wire withdrawals don't work it seems. Is there a way to maybe go straight to Prime Trust to withdraw it? I see there is ACH, as well, not something I really want to do, but would it work if I setup online banking with Washington Trust? Or would it not work since my account is limited? +> +>Thanks + +&#x200B; + +**NO RESPONSE AT ALL BUT THEY FUCKING DEACTIVED THE ACCOUNT RIGHT AFTER THAT EMAIL ASKING ABOUT AN ALTERNATE WAY TO GET THE MONEY OFF THE EXCHANGE** + +&#x200B; + +**December 7th:** + +>Hey, I am looking to talk to Biggs. I just got my online banking setup with Washington Trust, and now my account is disabled with the $100,000 on there. I was just logged in yesterday. This needs to be fixed, I think I finally found a way to get it off since wire withdrawal were not working, which I have sent numerous emails to you about. I haven't received a response from you in a few emails now about my troubles getting the money off, and now you close my account?  + +> +>Please respond asap. Thanks + +&#x200B; + +**2 months pass, with no response.** + +**January 3rd:** + + Yet agian, the ticket got wiped. + +&#x200B; + +>Hello, +> +>Thank you for notifying our team! We've received your request [\#157521](https://support.binance.us/hc/requests/157521). +> +>We are currently experiencing a high volume of customer inquiries. While our team is answering all queries in the order received. One of our representatives will respond to you as soon as we're able to. +> +>In the meantime, while our system is not able to automatically process your verification. We have escalated your request to our OnBoarding department, and they will manually review your case during regular business hours (Monday through Friday). The moment we have an official update, we'll respond as soon as we can. +> +>If you have any questions about the status of your verification, please let us know! +> +>Respectfully, +Binance.US Support Team + +&#x200B; + +**January 6th:** + +>Hello, +> +>Thank you for notifying our team! We've received your request [\#171594](https://support.binance.us/hc/requests/171594). +> +>We are currently experiencing a high volume of customer inquiries. While our team is answering all queries in the order received. One of our representatives will respond to you as soon as we're able to. +> +>In the meantime, while our system is not able to automatically process your verification. We have escalated your request to our OnBoarding department, and they will manually review your case during regular business hours (Monday through Friday). The moment we have an official update, we'll respond as soon as we can. +> +>If you have any questions about the status of your verification, please let us know! +> +>Respectfully, +Binance.US Support Team + +&#x200B; + +**January 7th:** + +>Hello, +> +>Thank you for notifying our team! We've received your request [\#177681](https://support.binance.us/hc/requests/177681). +> +>We are currently experiencing a high volume of customer inquiries. While our team is answering all queries in the order received. One of our representatives will respond to you as soon as we're able to. +> +>In the meantime, while our system is not able to automatically process your verification. We have escalated your request to our OnBoarding department, and they will manually review your case during regular business hours (Monday through Friday). The moment we have an official update, we'll respond as soon as we can. +> +>If you have any questions about the status of your verification, please let us know! +> +>Respectfully, +Binance.US Support Team + +&#x200B; + +**January 8th:** + +Sent them an email + + + +>REQUEST #45390 + +> +>That's the request ticket number that goes with the emails, incase I get someone other than Biggs. I need to get my money off the exchange, and I have been trying wire withdrawals at different times, and none of them worked. I never got the confirmation email, on 5 or more tries. I tried different banks, and accounts, nothing. I never heard back about it either. I never done online banking, but I saw ACH on the withdrawals page, and since wire isn't working, I decided to bite the bullet and enable my online banking with Washington Trust. + +> +>My account has been limited from trading for over a month now, and only had it enabled to withdraw, which never worked with the wire method. I never got help form you guys, after sending multiple emails. + +> +>A couple days ago, I emailed you guys about trying this ACH transfer, asking if it would work. In the meantime I went ahead and got online banking setup anyway. The very next day my account is locked. Having it limited for months, then me emailing you the day before, asking about me trying ACH, then having the account DISABLED just before I got setup with my bank for online banking, looks like a scam. A lot of actions over the past 5 months have seemed like a scam. + +> +>What happened to Biggs taking this ticket personally until I got settled? Seems after I never got confirmation emails from the wire withdrawals, and adding Prime Trust to my email contracts/whitelist didn't work, he just stopped talking to me. + +> +>Last time I was ignored, I had to send a nasty email to you guys, then all of a sudden I started to get help. Then I cooled down, and yet again you guys are ignoring me. + +> +>This has been quite a few emails now without a response. + +> +>Get back to me soon, or I will have to take legal action. This is absolutely ridiculous. All my emails and screenshots I have taken, I am ready to go to court. + +&#x200B; + +**January 11th:** + + Sent them an email + +>You're killing me here with this whole thing. Not sure why you locked my account, could you please enabled it again with withdrawals only so I can get my 100k off of there trying this ACH method. +> +>Thanks + +&#x200B; + +**January 13th:** + + + +>Gave you guys a couple days to respond still nothing. What’s going on here? +> +>Sent from ProtonMail Mobile + +&#x200B; + +**January 18th:** + + + +>Hey Binancian, +> +>Your support ticket is [\#209721](https://support.binance.us/hc/requests/209721). We are working through a high volume of customer inquiries. Our dedicated support team is answering all queries in the order received and one of our representatives will respond to you as they are able. +> +>Feel free to read our FAQ and follow us on social media for the latest product updates and announcements: +\- FAQ: [https://support.binance.us/hc/en-us](https://support.binance.us/hc/en-us) +\- Twitter: [https://binanceusl.ink/twitter](https://binanceusl.ink/twitter) +\- Instagram: [https://binanceusl.ink/instagram](https://binanceusl.ink/instagram) +> +>Please note that our support emails are sent through a 3rd party (ZenDesk) so they will not include your anti-phishing code. +> +>We look forward to assisting you! +Binance.US Support Team + + + +>Hello Binancian, +> +>We wanted to let you know that we are still working on your ticket and apologize for the wait. Solving your issue is a priority to us, but at this time, we are experiencing a high number of support requests. All inquiries are being processed and responded to in the order received by our dedicated support team. +> +>Please DO NOT send any additional tickets or responses on your existing ticket as it can move your request further back in the queue. +> +>Please check out all of our FAQs on Support.Binance.US: [https://support.binance.us/hc/en-us](https://support.binance.us/hc/en-us) +> +>Thank you for your patience, and we will update you as soon as we can! +> +>Binance.US Support Team + +&#x200B; + +**January 22nd:** + + + +>What’s is going on here? Been weeks I’ve been waiting for a response. You can’t keep my money, I’m sorry, seems like you want to. So unlock my account for withdrawals please. Should be illegal for you to lock someone account with $100,000 on it.  +> +>Sent from ProtonMail Mobile + +&#x200B; + +**January 28th:** + +>Hello, I am still waiting for a response on what is going on here. My money is still on your exchange and need to get it off there. + +> +>Sent with [ProtonMail](https://protonmail.com/) Secure Email. + +&#x200B; + +>Hello, +> +>Thank you for notifying our team! We've received your request [\#232389](https://support.binance.us/hc/requests/232389). +> +>Please note all USD Verification applications are manually reviewed and processed in the order received. The moment we have an official update, we'll notify you by email as soon as possible. +> +>Sincerely, +Binance.US Team + +&#x200B; + +**January 31st:** + +>It’s been almost 2 months since you guys have responded to me. Stop fucking around and unlock my account so I can try this ACH withdrawal method. The $100k on there is mine, not yours. The account didn’t even have trading abilities yet you lock me out as soon as I mention trying ACH withdrawal in an email. So scammy, I can’t even believe this. No balls to respond back either huh? I know you see these emails Biggs.  +> +>UNLOCK THE FUCKING ACCOUNT. + +&#x200B; + + Agian another fucking new ticket number, really pissin me off. + + + +>Hello, +> +>Thank you for notifying our team! We've received your request [\#267722](https://support.binance.us/hc/requests/267722). +> +>Please note all USD Verification applications are manually reviewed and processed in the order received. The moment we have an official update, we'll notify you by email as soon as possible. +> +>Sincerely, +Binance.US Team + +&#x200B; + +Now we get an automated email about verification for a locked account? Makes no sense. + +&#x200B; + +**February 9th:** + +> Hello, + +> +>Thank you for reaching out to us. + +> +>Regarding your USD Verification, your application is currently under manual review. All applications are reviewed in the order they are received.  + +> +>We aim to get you on our platform in a timely manner and appreciate you providing accurate and valid documents to make this possible.   + +> +>Your status will be updated on the [App](http://binanceusl.ink/app) and you will receive an email once verified.  + +> +>If you have another issue, please create a new ticket. + +> +>If you'd like to reset your account, please create a ticket under 'Account Verification -> Reset Verification'. + +> +>Look forward to seeing you on Binance.US!  + +> +>Best, +> +>Biggs +Customer Service Specialist +Binance.US Support + +&#x200B; + +And that brings us to today March 5th, with no response, account still locked, and they still have my grandfathers $100k. I have expressed my situation on the Bianance forum months ago only to be attacked by people on there, white knights and the mod Symbolic. They are saying I deserve it since he sent the wire from a business account. Really? + +&#x200B; + +Lets bring these greedy fucks to their knees. Fuck Bianace and fuck their BSC copy cat chain with no innovation. Just a CZ money grab. + The rush to crowd into cities to be closer to tech jobs could be a thing of the past in the wake of the COVID-19 pandemic as more people embrace remote work and flee close quarters. And Seattle-based real estate company Redfin is “preparing for a seismic demographic shift toward smaller cities.” + + [https://www.geekwire.com/2020/boise-bozeman-bound-redfin-ceo-predicts-big-shift-smaller-cities-remote-work-takes-hold/](https://www.geekwire.com/2020/boise-bozeman-bound-redfin-ceo-predicts-big-shift-smaller-cities-remote-work-takes-hold/) + +&#x200B; + +I can certainly see this happening for the next few years, but hard to see this as a long term trend +# + +[Banner submission by u\/ElectricEasel](https://preview.redd.it/gy2xzn14xev61.jpg?width=11012&format=pjpg&auto=webp&s=b3f174b844a23eac95894b5088e6d575f54e7766) + +# Good Morning Superstonk! + +&#x200B; + +[To ease the pain](https://preview.redd.it/sggrybx9mev61.jpg?width=299&format=pjpg&auto=webp&s=07b6bedb0d70813005fb2e3fdfd2e8217a7e9eef) + +&#x200B; + +So, it’s Monday morning, the market opens in a few hours, you’ve got your coffee (or your beer for you Europoors) and you’re ready to sit down and have a read of Rensole’s daily DD…. + +Then you remember. And suddenly you feel worse than when your spouse asked you what happened to the Disneyland money you’d saved (YOLO, amirite?). Rensole’s DD is no more, and a chapter in the GME saga has closed. *HODL me* 😭😭😭 + +*This is a note to Rensole. Feel free to scroll down to Dr. Trimbath's picture if you’re just looking for the Daily DD* 😊 + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +Before I begin, I’m going to tell you that without Rensole and his daily posts, Pink Cats- and a lot of the comradery of this sub- would probably not be here. After reading about GME since December on WSB, I bought my first share on January 18, 2021. And I’ve been buying and HODLing ever since. But for any of you apes from the jungles of January, you know that the dip after January 28th felt like a punch in the gut. February was ***brutal***. I questioned my sanity, I cried in the shower, I mentally punished myself daily for continuing to hodl instead of just selling. I just threw my family’s savings into something I’ve been reading about on *reddit* FFS!! + +&#x200B; + +But then we migrated to r/GME, and our favorite Anchorman began showing up on our screens right on time every day. + +&#x200B; + +And he never relented. I remember days when he was sick or didn’t feel good. He still posted that beacon of hope, shining forever brighter, to lead all the apes into a new day of trading. How badly did you need that shit mid-to-late February? And Rensole was there to deliver rock steady words of stonkiness. It was like a hit of Hopium straight to the brain every morning. Friendships were built in those comments. + +&#x200B; + +Although I know he would never admit it himself, this community would **NOT** be where we are today without Ren. The gratitude I owe him for getting me through the slumps and shrugs in this GME saga is *infinite*. I never felt like I was HODLing alone. Thank you for all you’ve done for the apes. Though all you can hear sometimes are the haters, you have always been loved and appreciated by this community. Thank you for teaching us the power of being excellent to each other. We all owe you a beer on the moon. Cheers, Rensole and stay classy. :salute: + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +# 🚨BREAKING NEWS🚨 + +# AMA Confirmed with Dr. Susanne Trimbath, PhD Economist, to Livestream on Superstonk Live YouTube* April 29 at 3pm EST, With Questions curated and presented by u/Atobitt + +&#x200B; + +[Dr. Susanne Trimbath, PhD Economist](https://preview.redd.it/sn43dty7aev61.jpg?width=750&format=pjpg&auto=webp&s=e41dfb3f784cb8e089e7ebbf52773aa9e9be053f) + +**\*NON-MONETIZED CHANNEL** + +So the first time I heard about Dr. Susanne Trimbath ([bio](https://www.gminsight.com/bio-susanne-trimbath))was when I watched [this documentary](https://www.youtube.com/watch?v=Kpyhnmd-ZbU&t=2217s). (Skip to 16:50 if you're just looking for the Dr. T bits but I suggest you watch this whole video when you have time.) This legend first discovered Naked Short Selling in *1993.* And what was the response from officials when she told them about this activity? "You can't balance the world." + +&#x200B; + +**Well I don't know about you apes but I'm ready to balance the damn world.** + +&#x200B; + +So that brings us to Brick Tamland (u/Bye\_Triangle) with more info on this developing story... + +&#x200B; + +[Brick Tamland \(u\/Bye\_Triangle\)](https://preview.redd.it/acasio0h8ev61.jpg?width=1800&format=pjpg&auto=webp&s=00482ba6d647b34a211e9a5dc067ed42b7cbe722) + +We interrupt your regularly scheduled programing for some Breaking news + +\*Queue News-like music sting\* ***Susanne Trimbath... Now this AMA is going to be a heavy-hitter.*** + +Trimbath has a history that is very applicable to our current situation. Once the manager of the DTC, specifically working in Settlement and Clearing, Trimbath spent much of her career trying to destroy the corruption of Wall Street, with regards to Naked Short selling. + +Authoring two books on the subject of Wall Street corruption, Trimbath is eager to take this opportunity to speak to us apes about this very topic as it relates to the GME situation, but also the markets as a whole. + +Please, check out her books on the topic, they are extremely relevant: + +\-Naked, Short and Greedy: Wall Street's Failure to Deliver + +\-Lessons Not Learned: 10 Steps to Stable Financial Markets + +&#x200B; + +But Apes, Guess what! We saved the most exciting announcements for last. Not only are we having Susanne Trimbath on for an AMA... but it is going to be a livestream on our new \*\*\*NON-MONETIZED\*\*\* [Superstonk Live YouTube Channel](https://youtu.be/9rKS92zwh_o)! Mods have been working through the night to build a platform that apes can trust to host interviews such as this. (Stay tuned for more details on the channel.) + +Though, unlike the Domo Capital AMA, we will have one of our very own apes hosting the Q & A, with questions sourced from the AMA post as well as drawing from their own expertise. This person recently wrote a certain DD called "House of Cards" ... **That's right folks, your very own** [u/Atobitt](https://www.reddit.com/u/Atobitt/) **is our host!** Atobitt has been hard at work preparing for this interview, so you are going to want to stay tuned so you don't miss this. + +Tuesday, April 27th The AMA post will go up (for you to submit questions!) + +Thursday, April 29th, 3:00 PM EDT the AMA will be LIVE! [Link to YouTube Channel](https://youtu.be/9rKS92zwh_o) + +Back to you, u/PinkCatsonAcid + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +# GME wants YOU to VOTE (no, REALLY!) + +&#x200B; + +[Vote!](https://preview.redd.it/69zvcn8h7ev61.jpg?width=842&format=pjpg&auto=webp&s=5ee1ffc35c04359b5f85c8704a910588203ad631) + +So our friend u/StonkU2 did an awesome writeup [here](https://www.reddit.com/r/Superstonk/comments/mxhcnq/beware_phishing_scams_are_trying_to_steal_your/?utm_source=share&utm_medium=web2x&context=3) about the upcoming GME Proxy Vote. Essentially you need to make sure that you understand the following: + +* Your broker should contact you with proxy voting info and your Shareholder Control Number. This will likely show up in your broker inbox on your main dashboard sometime this week, if it hasn't already. But if you haven't gotten it yet today, don't freak out yet. I know I'm going to wait until at least Tuesday or Wednesday before calling to retrieve my Control Number because most brokers should have this info out by mid-late this week. Of course, it's ultimately best for you to check with your broker yourself if you ever have questions. +* DO NOT LET GO OF THIS CONTROL NUMBER WHEN YOU GET IT. APE PROTECC TICKET TO ROCKET SHIP LIKE IT WAS GOLDEN BANANA. GOT IT? That means don't go clicking phishy looking links around Twitter or reddit or ANYWHERE that isn't sent directly from your broker! I can however verify that the correct link is: [https://news.gamestop.com/proxy-online-0](https://news.gamestop.com/proxy-online-0) . This is the only place you should be sharing the Control Number!!! +* Did you hear me? **DO NOT CLICK ANY LINK TO VOTE THAT DOESN'T COME DIRECTLY FROM YOUR BROKER.** Pretend it's 2001 and you're downloading sketchy "music videos" on Limewire on the family computer. Just be vigilant. + +Now that I've made that point clear, I want you to understand how important it is that every shareholder exercises their right to vote. And that's not anyone's personal opinion, and don't let Shilly FUD tell you that you're somehow orchestrating something by exercising your right to vote. + +# Gamestop is asking shareholders directly to VOTE ASAP!!! + +Allow me to read you this excerpt from the 2021 [Gamestop Proxy Statement](https://news.gamestop.com/node/18846/html): + +*"Your* ***vote*** *is important. Even if you plan to attend the annual meeting, we request that you vote your shares* ***as soon as possible*** *by following the voting instructions contained in this proxy statement."* + +as well as: + +*"We are* ***planning for the possibility that the ANNUAL MEETING MAY BE HELD SOLELY BY MEANS OF REMOTE COMMUNICATION.*** *If we take this step we will announce the decision to do so in advance of the Annual Meeting, and detail on how to access, participate in, and* ***VOTE*** *at such meeting will be set forth in a press release"* + +So not only are they **SCREAMING AT US TO VOTE AS SOON AS POSSIBLE** (after your broker contacts you about it), they're also telling us that they're discussing a way to livestream it and let us apes in on the action in real time. Of course we will keep you updated here on the Daily, but also stay on top of your broker situation. Looks like something should be officially released by April 28, 2021 as far as details from Gamestop. + +&#x200B; + +[Banner submission by u\/itsdaynotdave](https://preview.redd.it/0wc2m40d7ev61.png?width=4001&format=png&auto=webp&s=5c7b9344215bcb487952d449f1975413bdc7ab0f) + +# A note from your friendly local Pink Cat + +If this is your first time reading my material, Hi! I'm u/PinkCatsOnAcid and I've been here in the GME Jungles of r/wallstreetbets, then r/GME, and now my lovely home of r/Superstonk. I've been memeing and vibing with my apes from the first drop of the Tendieman. I love this place. I am legitimately honored that I have been entrusted to help steer this rocket. I am going to echo what u/redchessqueen99 has said and swear to you this right now... + +**I WILL NEVER SELL OUT OR SELL ALL MY GME** + +If you ever see me posting something totally not PinkCats-like, I've been compromised. Y'all know I'm just a trippy cat that likes to meme and sometimes I hack up word-balls. And you know how much I like the stock. I'm not interested in *money,* I'm interested in *GME Tendies.* + +**I will never sell all my GME and I will never sell out this reddit account. You have my word.** + +I love you crazy mf-ers and I ain't going anywhere. You're stuck with me. 💎💅🚀 + +[Committed to you like Kenny to his shorts](https://preview.redd.it/v7huto5u1fv61.jpg?width=750&format=pjpg&auto=webp&s=09cce0e846ce21a93537520fe2e9bc638827a24b) + +Also, if I didn't get to you in yesterday's Flair Megathread, I will! I promise! And I will be doing another one very soon. That was fun and I had to cut it short to do boring mod stuff and fight some shills. 🔫 But we will resume on another weekend! + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +# More Notes on FUD tactics + +If you haven't yet, please read our Reigning Queen Red's [post](https://www.reddit.com/r/Superstonk/comments/mx887u/code_red_subreddit_weekend_update/?utm_source=share&utm_medium=web2x&context=3). She said it beautifully so I won't rehash here. Just beware of the new age psy-ops happening in this sub. And the mod team is taking extensive measures to crack down and clean up the page without limiting the free flow of conversation. I can tell you this- I certainly won't use the ban hammer with a heavy hand, but I think y'all know by now I have a nose for bullshit and won't tolerate any nonsense in here. The mod team is not afraid to ban an obvious shill. And remember... if you look and talk like a shill, we are probably going to mistake you for one. We're working very hard to clean house around the sub before our guest arrives. Bring facts and research with your posts, especially if requested to provide proof of claims. I've lost 2 subs. I'm not letting you take my Superstonk, shills. + +&#x200B; + +https://preview.redd.it/su8nu5fb7ev61.png?width=554&format=png&auto=webp&s=b53074f8efeab10c572d4a3460e7abd459686da5 + +&#x200B; + +In the words of Rensole... + +**Be excellent to each other!!!** + +Be friendly, help others! + +as always we are here from all different walks of life and all different countries. + +This doesn't matter as we are all apes in here, and apes are friends. + +Doesn't matter if you're a silverback a chimp or a bonobo. + +We help each other, we care for each other. + +**Ape don't fight ape, apes help other apes** + +**This helps us weed out the shills really fast, as if everyone is helpful, the ones who aren't stand out** + +remember the fundamentals of this company are great, so for the love of god if someone starts with trying to spread FUD, remind yourself of the fundamentals. + +There is no sense of urgency, this will come when it comes, be a week, be it a month be it six. + +We don't care, just be nice and lets make this community as Excellent as we can! + +&#x200B; + +**Links you should read if you have time:** + +[DD: Here's what happens if there is over-voting (More votes than shares issued)](https://www.reddit.com/r/Superstonk/comments/mya2a8/dd_heres_what_happens_if_there_is_over_voting/?utm_source=share&utm_medium=web2x&context=3) + +**Links to socials:** + +[https://twitter.com/PinkCatsOnAcid](https://twitter.com/PinkCatsOnAcid) + +[https://twitter.com/RedChessQueen99](https://twitter.com/RedChessQueen99) + +&#x200B; + +**Edits** + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ +Hey everyone! I'm new to this sub, but been trading for almost 3 years now. + +Had a great month and figured I'd share some stats, and answer any questions you may have. + +I started the month with a $73K account, built it up to $225K by 6/11 and kept it static there (locking in profit daily) until 6/21. + +After a couple red days I sized down to $75K to secure profits. The market can (and did) go from hot to chop back to hot on a dime, and the last thing I wanted to do after a strong green streak is give too much back. + +I ended the month at $131K, and locked in $319,885.43 in profits (before fees + taxes) - below is a screencap of TraderVue for the June stats. + +https://preview.redd.it/o0miyi7llo871.png?width=987&format=png&auto=webp&s=35eedd79005a0fc7f7b24715d01ebc0b06a35f2c + +Overall there was a TON of opportunity in June, and even though I executed fairly well, there was plenty of room to improve. Broadly speaking, here are some of the things I did well: + +* Sizing into winners +* Cutting loses quickly (most of the time) +* Focusing on my bread and butter setups and ignoring the noise +* Not adding to losers + +And here are some things I need to continue to work on: + +* Avoiding frontrunning trades, especially with size +* Not chasing, waiting for clear direction on super volatile names +* Not getting overly aggressive or overtrading choppy days + +I'll provide some samples of both long and short trades that I consider "highlights and lowlights." These are not necessarily best/worst in terms of P/L, but in terms of execution (IMO). + +# Long Lowlights + +$VIRI - closed P/L -$11,391.63 + +This was (by quite a wide margin) my worst trade of the month both in terms of execution and P/L. The daily chart (top) should've made me an extremely cautious bull - popping up after coming down from $17. Nine times out of ten, when you get a pop after a parabolic move, that's all it is and it comes back down. My aim was to scalp a pop coming out of the circuit breaker, but I got filled high and from there it was damage control. I poured gasoline on the fire by trying to average down instead of cutting the loss, and ended up with a big fat red trade. + +TLDR - Shouldn't have chased, shouldn't have scaled heavy into this, should've cut the loss quick, shouldn't have added on dip + +https://preview.redd.it/869j13rolo871.png?width=890&format=png&auto=webp&s=c4095513f76d6da1081ab560d44ceb5e0a48b350 + +https://preview.redd.it/t3yzgpoqlo871.png?width=908&format=png&auto=webp&s=21fc82153c24c84c44251f8329f4dda4b8bd2040 + +$BLIN - closed P/L -$5687.18 + +This was a case of having a direction bias + recency bias, paying attention to the fat green candle and ignoring the ugly red one before it. I got heavy anticipating another pump through HOD despite the chop and got rugged. While some might say "oh you should've held, it went back up," I'd actually say the only positive part of this execution was cutting the trade before the loss got too bad. The thesis failed, and it could've just as easily dumped another $1+ a share. + +https://preview.redd.it/4wsxuvdslo871.png?width=887&format=png&auto=webp&s=c943fda73db74b0f8daa7240f4d8684262e9931d + +# Short Lowlights + +$CLNE - closed P/L -$3248.83 + +The setup was there for a dump - failed breakout down to immediate support, anticipating a break. I have no qualms with \*taking\* this trade, but I got way too stubborn and should've cut the loser sooner. The moment it curled back up should've been the signal to abort, but instead I held thru a $0.40 a share move...and proceeded to have the unwind I was anticipated right after closing the trade + +https://preview.redd.it/9n2dlm7ulo871.png?width=906&format=png&auto=webp&s=98682db42e08b1a5aa17765e0bfb52b08ccf1f21 + +$WPG - closed P/L -$3302.58 + +This was a case of impatience and frontrunning. I was looking for a dump below $5 after coming down from $5.40, but once a mini-bounce started I got jumpy, instead of observing the chart stoically, which had formed a picture perfect head & shoulders pattern right before the dump I wanted. + +https://preview.redd.it/qyym1hiylo871.png?width=889&format=png&auto=webp&s=a8819847d76a582e4edc93c91f35ab3e35327c08 + +$ATHA - closed P/L -$3075.87 + +This is a great example of how to turn a winner into a loser. The massive gap down on the daily (top) gave me a short bias. We had a bounce up from the $9s and I was anticipating a top before further unwind. In reality, after a 50% dump, there's no reason to assume it'll keep dumping so I should've had zero bias. Now, the entry of this trade was perfect. Nailed the triple top, took a bit of profit, and instead of covering where I should've covered, I got greedy and added anticipating a dump below $11.30. Instead, we got a hefty bounce and I tried to get cute with damage control, which only dug the hole deeper. Decent trade idea, but skewed bias and terrible execution. + +https://preview.redd.it/fr1w3stzlo871.png?width=906&format=png&auto=webp&s=39702fc47e98d066c652fbd26572a5bc5b04240f + +https://preview.redd.it/iddnbv31mo871.png?width=924&format=png&auto=webp&s=ecabe436676a278e94cf97587576c4d3fc54564d + +# Long Highlights + +$ORPH - closed P/L $12350.34 + +Second best P/L trade of the month, great execution. Starter size under HOD with a mini cup and handle, then just traded around a core all afternoon. Never got too greedy and took profits all along the way, letting me safely ride through that volatility. + +https://preview.redd.it/rnchz632mo871.png?width=891&format=png&auto=webp&s=38777303fb6bb9061e92f62cbb2696553bc41b27 + +$WISH - closed P/L - $6427.91 + +Rode the blast through HOD from the low 11s, sized in aggressively as the trade confirmed. Didn't overstay my welcome and took profits along the way, all out at first sign of weakness. + +https://preview.redd.it/ng0nxyb3mo871.png?width=889&format=png&auto=webp&s=2bc357a9d2f7e55f9129e16ad327056f0e6595db + +$RAPT - closed P/L $8267.40 + +This name was so good to me that entire day - took several more trades on front and back side. But this trade was the highlight - took a started under HOD 31 and rode it up to 38, taking profit along the way and adding upon confirmation. IIRC I got partial fills on this too. + +https://preview.redd.it/0ywx1kg5mo871.png?width=899&format=png&auto=webp&s=674de1e0a00cf31479d1319e37ee63b0de4d989b + +# Short Highlights + +$ARPE - closed P/L $9887.88 + +Beautiful all day fader. Massive sellers at 7.80, scaled in short at the first sign of weakness. Covered some and held patiently, adding on the VWAP rejection. Could've held a bit longer, but captured the meat of the move. + +https://preview.redd.it/nw0y0sl6mo871.png?width=901&format=png&auto=webp&s=828a004bf685c49151d0edf774fd8b78c1ca9530 + +$UONE - closed P/L $5119.79 + +Had a bear bias based on weak daily chart and was waiting for $20 to break. Got in right when we failed VWAP/support and rode it down 3$ a share, adding on pops. + +https://preview.redd.it/9iindny7mo871.png?width=929&format=png&auto=webp&s=0881c4fc69c38da27a6eaa190a32465553f12612 + +$NOVN - closed P/L $11,314.76 + +Super extended from $14 and each HOD break looked weaker than the last, was looking for first fail to hit this hard. Nailed my starter position with flush after HOD break then added as a head and shoulders formed. Let the trade play out patiently down to the 15's. + +https://preview.redd.it/t1d3p1b9mo871.png?width=931&format=png&auto=webp&s=66878e3743358553fd0c73bfe314531ddb468f86 + +Charts are from TraderVue and my brokers are ThinkOrSwim (TDAmeritrade) and DASTrader (for shorts not available w/ TD). I post pretty regularly on Twitter as well. + +Again, feel free to ask questions! + +Edit: Not Financial Advice +**TL;DR: Just like Michael Burry and RC called out shorting on GME in their investor letters, secretive Swiss family office Memento S.A. openly called out naked shorting on their Sears stock and demanded something be done. This was months before Sears went bankrupt, and years before Sears "squeezed" alongside other zombie stocks last January 2021.** + +EDIT: Just got reported that I'm suicidal while playing PS4 so guesssss we're on the right track fuck you Kenny pay us + + +**EDIT 7: added at the bottom but we might have a Swiss investigtory journalist ape that might reach out to Memento S.A.!** + +In recent posts--whether discussing "The Big Mall Short" and how Carl Icahn, Apollo Global shorted malls in CMBX.6, or a recent post on negative cost to borrow rates--I've been finding ever more and more historical fuckery for older now non-existent stocks. Just last post, I covered how I had my own TIL with Krispy Kreme, and its insane FTDs when it first launched: + +&#x200B; + +https://preview.redd.it/ftc56qgb7bg81.png?width=1351&format=png&auto=webp&s=07e11a0b674bc7f6552161ffffefdf17bd595498 + +Not before going into the fact that Sears had its own NEGATIVE cost to borrow rate at one time. + +&#x200B; + +Sears is important to the GME saga for many reasons, not least of which it was one of the zombie stocks that sneezed in January, and was caught by users such as u/joncohenproducer in posts like these: + +&#x200B; + +https://preview.redd.it/u6h94s0x7bg81.png?width=915&format=png&auto=webp&s=aeb5540a48f46f55cc41978e340ce8f8f132337c + +As one of the most dark parts of the saga, the rise of zombie stocks (dead or bankrupted companies) and their securities moving both during and after the sneeze matters very much to what happened during the sneeze, what may have been planned for GME, and a history of the fucking of American & global workers, pensioners, and investors worldwide. + +Which is why I was surprised to find a quiet family office in 2017 had sent a letter just a few months within the year before Sears went tits up. + +&#x200B; + +https://preview.redd.it/vpuq2t8e8bg81.png?width=400&format=png&auto=webp&s=f1fa506d2c5d0a036ffc8681cceda2fcb84a6b1a + +The most recent family office that everyone now knows is Bill Hwang's Archegos, which may have blown up and potentially left Credit Suisse bagholding. They aren'y required to disclose in the same manners that hedge funds are with the SEC, and often lie in the dark. + +Which is why I was surprised to hear that one spoke up. Specifically about Sears, months before it went bankrupt. That family office was Memento S.A.: + +>\*\*About Memento:\*\*Memento is a Geneva-based long-term oriented value investor seeking to identify deeply undervalued opportunities in which boards of directors can take immediate and decisive action to significantly increase shareholder value. Memento is the investment manager of the Elarof Trust, a shareholder with nearly 2 million shares of ownership in the Company, and acts as family office of the Swiss-based Spadone family, the beneficiary owner of the Elarof Trust. +> +>Memento seeks to engage in constructive dialogue with Sears' Board and management. Memento has retained Olshan Frome Wolosky, LLP as legal counsel to advise on its engagement and discussions with the Company.  +> +>\*\*Investor Contact:\*\*Alessandro Mauceri + +&#x200B; + +[Either their current or old office in Geneva, Switzerland](https://preview.redd.it/diold3yx8bg81.png?width=1168&format=png&auto=webp&s=f3de8146f4a16bb4b1b168bfefa31efab808d885) + +This letter was addressed to Sears boardmembers in the wake of then fuckstick and hedgie extraordinaire CEO Eddie Lampert mismanaging the company into a fucking wall. What they chose to openly talk about (I could feel them wanting to wring some necks with this one) is something all GME and meme stock holders are accustomed to: + +&#x200B; + +[Baron von Fuckstick extraordinare Eddie Lampert](https://preview.redd.it/0v7o466szag81.png?width=1893&format=png&auto=webp&s=967b6e826e766dd029968aa2004124e5c204f5c6) + +The three slides reading Figure 1 2 or 3 are from the **actual** letter. All others are ones I included: + +&#x200B; + +https://preview.redd.it/4121ehyayag81.png?width=1546&format=png&auto=webp&s=ee5b91bad0aa6e385609def8aa3ebdd103ff33a8 + +*Link*: [https://www.prnewswire.com/news-releases/memento-delivers-open-letter-to-sears-holdings-board-300568216.html](https://www.prnewswire.com/news-releases/memento-delivers-open-letter-to-sears-holdings-board-300568216.html) + +&#x200B; + +GENEVA, Dec. 7, 2017 /PRNewswire/ -- **Memento S.A. ("Memento"), the family office of an investor in Sears Holdings Corporation ("Sears" or, the "Company") (NASDAQ:** [**SHLD**](https://www.prnewswire.com/news-releases/memento-delivers-open-letter-to-sears-holdings-board-300568216.html#financial-modal)**), delivered a letter to Sears' board of directors (the "Board") today to express concerns regarding historical patterns of alarming short-selling activity in the Company's shares and to ensure the Board is taking whatever actions may be required to curb any similar short-selling issues that may arise in the future.** + +The full text of the letter follows: + +December 7, 2017 + +Sears Holdings Corporation Board of Directorsc/o Corporate SecretarySears Holdings CorporationLaw Department3333 Beverly RoadHoffman Estates, Illinois 60179 + +# Dear Board Members: + +The Elarof Trust ("Elarof") is a shareholder of Sears Holding Corporation ("Sears" or, the "Company") with nearly 2 million shares of ownership in the Company. Memento is the investment manager of the Elarof Trust and acts as family office of the Swiss-based Spadone family, the beneficiary owner of the Elarof Trust.  + +We are a long-term oriented value investor seeking to identify deeply undervalued opportunities in which boards of directors can take immediate and decisive action to significantly increase shareholder value. + +Sears represents a significant investment for Elarof, and we have invested in Sears because of our belief in the long-term value of its vast national network of over 1,100 Sears and Kmart retail stores across the United States, the strength of its well-established proprietary brands, its position as the nation's leading provider of appliance and product repair services, and its insurance subsidiary. Our investment in Sears has taken in to consideration many factors, including its significant stakeholders who are closely aligned with its success, such as its vendors, customers, and over 140,000 employees. We believe Sears has the potential for strong financial performance once it addresses a few critical concerns including, among others, the high volume of short-selling activity in its shares. + +**We are writing at this time to highlight certain issues that have been plaguing the Company's shares on-and-off over the past two years that require your immediate attention to prevent further deterioration in shareholder value**. We have been closely monitoring these recent developments at Sears and, while we remain optimistic about the Company's potential for long-term growth and shareholder value creation, we seek to engage in constructive discussions with the Company's Board of Directors (the "Board") and management **to address our deep concerns surrounding the integrity of the Company's securities ("SHLD shares" or, the "Common Stock").**  + +&#x200B; + +[Figure 1 from their letter.](https://preview.redd.it/40ym0ra4zag81.png?width=399&format=png&auto=webp&s=d0a6eed09f14805a8c23ec6b60720799695b7d6c) + +**There have been several occasions over the past two years in which the market has indicated that more short positions exist in the market than SHLD shares available to borrow, as shown by the unusually high volume of short-selling activity relative to the Company's real available float of outstanding shares.** For the reasons set forth below, we believe that this shortage of available shares in the marketplace heightens volatility and places downward pressure on the share price. + +&#x200B; + +**We believe the Board must promptly investigate and address this activity to prevent further decline in shareholder value, including (i) the formation of an independent Board committee to look after the equity ownership interests of all shareholders, (ii) seeking an SEC investigation in to the potential violations of Regulation SHO and a temporary suspension of short-selling in SHLD shares, and (iii) the evaluation of strategic alternatives such as going private.** + +Our interests are aligned with all Sears shareholders in seeking stable and sustainable growth in the value of SHLD shares. As such, we respectfully request the Company provide its investors with adequate assurances that it is taking the steps necessary to effectively address the urgent problem of naked short selling in its shares by establishing sophisticated internal controls and seeking appropriate regulatory action. + +# Excessive Short Interest + +Naked shorting involves selling a stock short without first locating the shares for delivery at settlement. Such a practice is in violation of Regulation SHO, a 2005 SEC rule. Regulation SHO provides that brokerage firms may not accept orders for short sales without having borrowed the stock or having "reasonable grounds" to believe that it can be secured. **This is known as the "locate" requirement. The SEC further noted that the practice of naked short selling can be abusive and drive down share prices.** + +We have observed on several occasions that the number of shares of Common Stock outstanding have fallen below short interest activity as measured by real available float. **As shown below, short interest in SHLD shares has fluctuated between 12 to 19 million shares in the past two years. In early 2017 we identified that, not taking derivatives into account, there were more stocks lent than the real float, causing a deficit of 3.6 million shares.** + +[Figure 2 from their letter.](https://preview.redd.it/12jqiddxyag81.png?width=400&format=png&auto=webp&s=75949707d88c740b46e80b9dda95411595e4ca75) + +**We observed similar behavior in options activity for SHLD shares. Based on our analysis, it would not be possible for market makers to appropriately hedge their investments and, consequently, deliver the shares of options when exercised. If all of the open put or call contracts were exercised, it would be impossible for market makers to locate and deliver shares for settlement within the legally required time period of three business days.** + +**Sears' put open interest as a percentage of shares outstanding has fluctuated between 30% to 40% of the Company's market capitalization, indicating that between 30 to 40 million shares are waiting to be delivered for these contracts. This is despite the fact that the Company's real available float remains between 12 to 20 million shares.** + +&#x200B; + +[Taken from a Baker Street Capital slide deck on Sears, that I posted in another recent post](https://preview.redd.it/0fr33pq90bg81.png?width=1159&format=png&auto=webp&s=8e09b90cbb59a8dc490a1f504e02a7e597e150b8) + +The call open interest is also rising but remains well below the put open interest. + +**We have learned through our own experience in lending SHLD shares that several institutions/brokers were unable to timely locate shares when we recalled them. It took ten or more days for us to receive our lent shares back.** + +**We recalled about 1 million shares twice this year with various institutions/brokers in order to transfer the shares to another counterparty. In both cases our brokers failed to deliver, and the SHLD share price soared between 30 to 100% after our recall.**  + +&#x200B; + +[Remind you of any company?](https://preview.redd.it/ahclar710bg81.png?width=744&format=png&auto=webp&s=33e6281aceaa2f2c3605ba7d19c18066637b8880) + +**When asked to explain their delay, these institutions/brokers indicated that the shares may have been borrowed by market makers who are subject to less stringent locate requirements and who have the ability to return shares later in certain circumstances as a result. We observed that the SHLD inventories for borrowing stocks were massively below what was reported to the SEC, and Markit informed us that the double-counting of some stocks could cause them to be lent over several times. This is alarming and demonstrates that the same shares may be sold short more than once.** + +&#x200B; + +https://preview.redd.it/5q7k3okkzag81.png?width=905&format=png&auto=webp&s=d02249b30a0115c5380aa3dba66d0abd5fa3ca32 + +**We also note that the lending rate of Sears in 2017 has often reached levels close to 100%, indicating a high borrow cost that creates further incentives for naked short selling**. This high interest rate raises the specter that market makers are engaged in naked short selling to avoid the high borrow cost associated with covered short sales. + +Such behavior would violate the requirements of Regulation SHO. **As their only recourse to prevent such an outcome, institutions/brokers would be forced to buy SHLD shares in the open market, which risks causing a spike in the price of SHLD shares, a pattern that would artificially distort the Company's value and increase its volatility in the marketplace.** + +&#x200B; + +[From another post referencing this SeekingAlpha bit, mentioning a sneeze in early 2017 just a few months before this letter](https://preview.redd.it/qhjla6xt6bg81.png?width=1335&format=png&auto=webp&s=65eb535ddd4dc72847f8a943aff46a421aae4728) + +The shares of SHLD stock owned by restricted shareholders cannot be borrowed against in the marketplace to cover short sales. **Taking this in to account, the real float of Common Stock has fallen below the short interest on several occasions in the past two years**. Sears has reason to know this occurs based on the volume of short-selling activity in the marketplace compared to the percentage of outstanding shares restricted from securities lending. It is clear to us based on our own experience in securities lending of SHLD shares and monitoring the Company's real float that there have been repeated instances of widespread naked short-selling in the Company's shares, with the short interest exceeding total Common Stock outstanding when excluding restricted shares. + +&#x200B; + +https://preview.redd.it/y1ianbq26bg81.png?width=1280&format=png&auto=webp&s=62d44997260dcbf67c61d01fe72b188c59a56485 + +Naked short selling has the effect of placing immense downward pressure on share price over time, since an unlimited supply of any commodity, including SHLD shares, places downward pressure on its price. At a time when Sears' employees, vendors and customers worry about the Company's long-term viability, we believe that the Board must treat this particularly delicate matter with the highest priority. **Immediate action is necessary from the Company to prevent further destabilization and depression in the price of SHLD shares.** + +**We request that the Board establish an** ***Equity Ownership Committee*** **comprised of independent Board members for the purpose of protecting the interests of all shareholders by monitoring real float versus short interest and seeking stable and sustainable growth in the price of SHLD shares.**  + +We further recommend that the Board seek a temporary restriction on short-selling in the SHLD shares to allow the Company to instead focus on more urgent operational priorities. **In addition, we believe that these facts warrant an SEC investigation in to the repeated instances of naked short-selling of SHLD shares in violation of Regulation SHO.** + +Lastly, we recommend that the Board consider strategic alternatives such as going private to allow the Company to focus on enhancing long-term shareholder value instead of monitoring short-selling activity in the marketplace. + +We look forward to continuing our discussions and engaging with the Company to address these troubling concerns on behalf of all shareholders.  + +Sincerely, + +Alessandro Maucerimemento S.A. + +\----------------------------------- + +&#x200B; + +The letter reminds me of among many things in the saga, even the letters that investors like Michael Burry sent to GME: + +&#x200B; + +>**Through August 15th, a total of 11 trading days, 50,399,534 shares have traded. At this rate, for the month of August and for the third month in a row, the number of shares traded will exceed the total number of shares outstanding.** Because of such high volume, we maintain that GameStop could pull off perhaps the most consequential and shareholder-friendly buyback in stock market history with elegance and stealth.... +> +>Notably, as of July 31st, 2019, Bloomberg reports short interest in GameStop stock at 57,226,706 shares – **this is about 63% of the 90,268,940 outstanding GameStop shares at last report.** + +Or even Ryan Cohen, now Chairman of the company: + +&#x200B; + +>Unfortunately, it is evident to usthat GameStop currently lacksthe mindset, resources and plan needed to become a dominant sector player. The Company remains in long-term secular decline due to its apparent unwillingness to pivot with urgency and grow with gamers. As evidence, stockholders have seen the value of their equity decline by nearly 68% over the past three years and decline by nearly 85% over the past five years. 2 GameStop is also one of the most shorted stocks in the entire market, which speaks volumes about investors’ lack of confidence in the current leadership team’s approach... + +&#x200B; + +Both Michael Burry and RC are investing geniuses, and I know that given what happened with Sears and Memento S.A. watching while its stock was shorted into the fucking ground, they know even if not the specifics of this letter, know of the specifics of thousands of letters like this all watching as their stock gets stuffed into the cellar... + +&#x200B; + +**TL;DR: Just like Michael Burry and RC called out shorting on GME in their investor letters, secretive Swiss family office Memento S.A. openly called out naked shorting on their Sears stock and demanded something be done. This was months before Sears went bankrupt, and years before Sears "squeezed" alongside other zombie stocks last January 2021.** + +&#x200B; + +\------------------------------------------------------- + +EDIT 2: While we're here, reminded me of this Sears fact I saw in the T I L reddit of sub, but did you know: **"TIL Sears once sold on mail order an entire house as a giant DIY kit. There were over 370 home designs, and the house had over 30,000 parts worth 25 ton**s". And it could be assembled in 90 days! This was back when Sears was basically Amazon before Amazon! + +[for pun lovers, some pick me ups from mayo filled crime](https://preview.redd.it/x1osk7gmrcg81.png?width=785&format=png&auto=webp&s=e08f75c13567bc79f6471e21b60169369f0c77c8) + +Also someone pointed out this is apparently a really famous cheesy Sears ad. For pun lovers: + +[https://www.youtube.com/watch?v=4rqZZgVxnCk](https://www.youtube.com/watch?v=4rqZZgVxnCk) + +&#x200B; + +# EDIT: WOO! SOMEONE JUST POPPED MY CHERRY! I JUST GOT REPORTED FOR SUICIDAL THOUGHTS WHILE PLAYING ON MY PS4 LOL GO FUCK YOURSELF KENNY + +Also can anyone vouch? LOL look at the crisis number, this would be a funny irony: + +>A concerned redditor reached out to us about you. +> +>When you're in the middle of something painful, it may feel like you don't have a lot of options. But whatever you're going through, you deserve help and there are people who are here for you. + +&#x200B; + +>Text CHAT to Crisis Text Line at **741741** + +**That number...** + +EDIT 4: Last thing, some of you apes reminded me of an amazing thing that Dr. Trimbath said recently as she had apparently addressed what had had companies like Sears in her book "Naked Short and Greedy": + +[https://twitter.com/SusanneTrimbath/status/1490070909863956480?cxt=HHwWgMCsiaHm5a0pAAAA](https://twitter.com/SusanneTrimbath/status/1490070909863956480?cxt=HHwWgMCsiaHm5a0pAAAA) + +Whether it be GME, Sears, or any other injustice, find your pitchfork moment and protest against it. Buy, hold, DRS. + +&#x200B; + +EDIT 5: tres cool mes amis et mon apes! + +&#x200B; + +https://preview.redd.it/5auys6mp8gg81.png?width=620&format=png&auto=webp&s=5d29d53fb72ce132b5d8d09f3d566dc3eb511414 + +turns out we have a badass swiss ape from superstonk hot on the trail! Say hello to u/de_bappe! + +[https://www.reddit.com/r/Superstonk/comments/smggok/rc\_sears\_tweet\_cracked\_skull\_and\_sears\_a\_skull\_is/](https://www.reddit.com/r/Superstonk/comments/smggok/rc_sears_tweet_cracked_skull_and_sears_a_skull_is/) + +You can read their comment in u/Flokki_the_Monk, and I'm sure mods can verify further if needed (posts show their def Swiss! fondue gang 4 lyfe!) but they are looking to reach out to Memento S.A. potentially! + +>**Okay apes. I’m a independent journo based in switzerland and this got my butthole tingling like crazy. So I’m going to contact MEMENTO SA and try to get them to talk to me with this email. Can any wrinklier brains proof read this in case I got something wrong? Thanks** +> +>Hello +> +>My Name is ———, a journalist based in switzerland, and I’m currently working for ———. +> +>I’m researching any swiss involvement in the GamesStop incident from a year ago. It is my belief that the practice of naked shorting is being used to purposely bankrupt companies unlucky enough to be targeted by the entities that conduct the naked shorting. + +Go read that thread and provide u/de_bappe any proofreading or ideas you might have! + +&#x200B; + +[No friends lost here! We got your back u\/de\_bappe!](https://preview.redd.it/wd76z9e0agg81.png?width=1113&format=png&auto=webp&s=78da71571eae51d0ee8cf5f900e9027bb903baf5) +When I hit my FI number in a windfall, those who were close to me and knew about the number said things like, "Wow, this is so cool -- now you can do what you love." Or, "this must give you a lot of freedom." + +So, what I'm wondering is, can folks share some positive stories on how they are using their fat status to do what they love? Moments when you have to pinch yourself because your new life is so much better than the old one? I'm especially interested in things that aren't related to spending the fat stash -- instead, just a change in how you spend your time given the freedom that being fat affords. I'd especially love to hear from verified folks. +My dad left my mother in huge amounts of debt when they divorced, and she's never really financially recovered. I'm in my early-mid 20s, and save every single drop of cash that comes my way into creating financial independence for her. She's in her early 50s at the moment, and, according to her job/pension, should be working until 70. I'm doing everything I can to set her up for a much earlier retirement, even if it involves living on a very small amount of money for myself. I know I can make money for myself later, but I can't undo 20 years of being married to my father for her. At the moment she's debt free (!!!) and her ETA for early retirement is 5 years (or about 12 before the state thinks she should retire). That sets me up to start working on my own financial independence just before 30. + +Does anyone else do this for/prioritise someone else? I'm curious to know who else is out there - and if you have any tips? +Hello beautiful apeys! + +I saw BCG attacking the stonk I love so much and decided to use my weaponized autism to look into BCG and see what their real motive is. + +**TL;DR: I believe this lawsuit would have happened regardless if RC took over as Chairman or not. It is my theory that the sleeper agents on GameStop's board were purposefully mismanaging the company into the ground to help SHF drive the price down as part of their plan to Cellar Box it. I believe it was a coordinated attack from all sides.** + +**Company was being mismanaged by sleeper agents + naked shorts and then hire BCG to do a "turn around" and purposefully not do anything they said and pay them late, make the company look completely incompetent and then this eventual lawsuit would happen as a nail in the coffin for Retail sentiment.** + +**In an alternate universe where RC didn't take over and Reddit didn't figure out the criminal predatory naked shorts from hedge funds, if you heard about this lawsuit you'd likely panic sell and buy puts which would lead to GME's bankruptcy.** + +**Now that RC took over and changed the game, and fired all the sleeper agents, he likely has proof of bad actors sabotaging the company to defend against the lawsuit.** + +\------------- + +So I first started looking into any connections Citadel has with BCG and found some people who are tied to both places. + +Anuj Arora Vice President, Office of the CEO at Citadel Securities (Kenny) AND former Project Leader at BCG + +https://preview.redd.it/lnd4ugz9bdp81.png?width=843&format=png&auto=webp&s=1c78551b02707c8b9265fa56e213b598ad0b64e9 + +&#x200B; + +Carsten von der Linden, Chief People Officer and Managing Director at Citadel AND former Principal at BCG + +https://preview.redd.it/o9apaxhabdp81.png?width=830&format=png&auto=webp&s=3769cd324339cd4880a7a287034bb6df29b76f74 + +[https://www.crunchbase.com/person/david-opolon](https://www.crunchbase.com/person/david-opolon) + +David Opolon currently has 2 jobs. 1 working DIRECTLY with KENNY and 2 Principal at BCG. + +https://preview.redd.it/r0e19clmbdp81.png?width=822&format=png&auto=webp&s=faa038c7dc15c49d331dbee28de443988c90d61a + +Avi Tillu who worked at Citadel and BCG but we'll come back to him later. + +https://preview.redd.it/euqyxdj1ldp81.png?width=588&format=png&auto=webp&s=d382bbff7cbfe690350369fc7b6f159ba70f11c5 + +&#x200B; + +[Lawsuit in question](https://d12v9rtnomnebu.cloudfront.net/paychek/Boston_Consulting_v_Gamestop.pdf) + +https://preview.redd.it/z5azb80oldp81.png?width=650&format=png&auto=webp&s=dbb08e70795c130f878c1d0b915ae6b496e29b92 + +&#x200B; + +In 2019 we already know there were a bunch of sleezy sleeper agents on GameStop's board. I posted my theory in the TL;DR above. + +&#x200B; + +https://preview.redd.it/qd4mzshyxdp81.png?width=677&format=png&auto=webp&s=23c93278d2290ed6f439cd9d648a4774f2bee408 + +The GameStop before RC was failing hard. So hard that it had to be on purpose. And the actions they took with BCG just feels planned to me. GameStop paying the fees over 8 months late? Knowing that there were people on the board trying to sabotage the company, it feels like a setup for a lawsuit later. + +If the contract was signed under false pretenses and can be proven that bad actors had the intent on breaching the contract to lower the stock price in an eventual lawsuit, then they wouldn't need to pay the $30M now. + +Either that or they were trying to siphon money out of GameStop to hurt the books. You know, Just your general sabotage fuckery. + +But that's all just speculation without any proof, right?. + +We have a beginning to the conclusion and an end, but we don't have a line to draw from one to the other without resorting to speculation. + +Unless... there was another example of sleeper agents acting under false pretenses involving BCG.. + +*\*Googles\** + +OH SHIT look at [this](https://storage.courtlistener.com/recap/gov.uscourts.nysd.525729/gov.uscourts.nysd.525729.1.0.pdf).. + +&#x200B; + +https://preview.redd.it/njh3oe6hpdp81.png?width=657&format=png&auto=webp&s=20d0b6569ded3d2ede67370e78fe979c5bbe6d8c + +In 2019 BCG sued NCR for not paying their exorbitant fees. SOUND FAMILIAR!?? + +NCR [counter argued](https://law.justia.com/cases/federal/district-courts/new-york/nysdce/1:2019cv10156/525729/74/) that BCG basically placed a sleeper agent on the board to sell the contract to them. + +&#x200B; + +https://preview.redd.it/6y2g69b5rdp81.png?width=688&format=png&auto=webp&s=cbf6126013587f3e8c8c5eff87a0dcba609381b5 + +&#x200B; + +In 2018 NCR got new leadership and that was actually the reason for the lawsuit. The new leadership decided BCG's fees were dumb and not in line with the vision. SOUND FAMILIAR!?? + +&#x200B; + +https://preview.redd.it/qzsko51stdp81.png?width=676&format=png&auto=webp&s=6bb7c86bb0a15695901379428181d7354e1bc1ff + +This lawsuit with GameStop now could just be history repeating itself. + +New leadership comes in, turns the company around themselves, BCG get's mad cuz shorts r fuk, and sues because new leadership fucked up their plans to bankrupt the company. + +Remember Avi Tillu from a few pictures ago? + +He worked at BCG and at Citadel. And now works for Pimco. + +Who's Pimco? + +&#x200B; + +https://preview.redd.it/zv66fp7dvdp81.png?width=656&format=png&auto=webp&s=ec81a12b788c8e6d31c947954990aeec2ca1d17e + +This dude Bill Gross co-founded it and is an active short seller against GameStop. + +It just realllllly feels like a huge plot with people both: handing inside company info, and being placed in high ranking sleeper positions to fuck the company up. + +I believe when you look at all the pieces laid out and the people going from one place to another, it just jumps out at you and becomes obvious. + +And before someone says *"It's pretty common for people to jump from one company to the other, that doesn't prove anything"*, I'd like to remind you guys of this part of my [Rolling in The Deep Dive DD:](https://www.reddit.com/r/Superstonk/comments/pcklz0/rolling_in_the_deep_dive_hiding_money_in_the/) + +&#x200B; + +https://preview.redd.it/7dsew61owdp81.png?width=698&format=png&auto=webp&s=645cd32fad2d24a3b33b9c6a98894bc8c7afaa2e + +Anyone involved with Citadel can still be on Citadel's payroll and there can be no trail according to the rules and exemptions Citadel is granted. Based on all the things we're seeing it's just obvious there's so much fuckery going on behind the scenes. + +You'd have to be a shill to not see the connections. + +GameStop is and was the target of a major scheme involving multiple companies. I think we just found one more piece of the puzzle in this whole **"SHF ruining the world by naked shorting companies into bankruptcy to make money for themselves"** thing.. + +I don't think it's only GameStop. I think BCG is another arm of Citadel helping them place sleeper agents to destroy companies from within. + +Anyways that's my theory. + +\--------- + +By the way, RC if you're reading this, I think you may have missed a sleeper agent: + +&#x200B; + +https://preview.redd.it/ae1r9h7zvdp81.png?width=435&format=png&auto=webp&s=46a1791766f190e1c9a4241c0a9ef6f40f746a3e + +https://preview.redd.it/06qjme74wdp81.png?width=498&format=png&auto=webp&s=c14fe99eb266055dbcdf7c9840b5f6e04c3d88ec + +&#x200B; + +Edit: + +[https://www.prnewswire.com/news-releases/bed-bath--beyond-inc-announces-transformation-of-board-of-directors-and-additional-governance-enhancements-300835494.html](https://www.prnewswire.com/news-releases/bed-bath--beyond-inc-announces-transformation-of-board-of-directors-and-additional-governance-enhancements-300835494.html) + +https://preview.redd.it/3tzfpc9qfep81.png?width=729&format=png&auto=webp&s=1c98e18006e9abfc228d0c76ec7ffef7bcb7fdee + +&#x200B; + +Edit 2: + +RC CONFIRMING THE DD LESGOOOO + +&#x200B; + +https://preview.redd.it/sa8rxdwm8gp81.png?width=466&format=png&auto=webp&s=676f46657644a197122655bd4b4d334895f1130d +Lets break it down. I have around $17,000 to my name and turned 21 in January. I have a full ride scholarship and not a cent of debt. + +The specifics: + +\- $9000 of cash in my savings + +\- $6500 in Charles Schwab portfolio (6000 initial investment) ($500 gain) + +\- $500 in robin hood + +\- $250 in coinbase + +\- $250 cash + +\- $500 school fund + +I have a full ride in college and currently going to start my senior year in august. I will come out with no debt. I have a car that works fine and all paid off. I will be receiving about $2000 more in summer from my internship, and will try to find an internship during my fall and spring semester. + +My monthly expenses starting in august is roughly $200 for food and cellphone. (I'm very frugal). I will literally go out of my way to save a few bucks here and there if need be. My Pell grants and scholarships will pay for my living next year as well. I will have around $1,500 in miscellaneous expenses before senior year. I am an accounting major and will go a fifth year in college, that is paid for as well. I also live in Nebraska, so many things are cheap for me. + +I need ideas to know what else to do with my cash on hand. I'm tired of watching it sit there. I need some ideas. and will reply as soon as possible if any questions. + +P.s. My whole family lives pay check to paycheck, The only reason why I've saved so much is to not turn out like them. Thats literally the only thing that keeps me going. + +[edit: I fell asleep last night due to me working the night shift. Thank you so much for your input everybody I never expected something like this to blow up!] + +[edit: CREDIT SCORE: ***785*** (a lot of people been asking about that.) +It’s an opinion piece, so take it with an obvious side of salt. + +**Article:** +https://www.scmp.com/week-asia/economics/article/3151634/evergrande-sinic-fantasia-tidal-wave-chinese-debt-about-sink + +**Body:** +> As we know, dirt in Australia is rich in important minerals and there is a lot of it. Early settlers discovered large quantities of iron ore deposits and digging it up to make iron became a meaningful business in the early 1900s. One hundred years or so later, the Australian economy has become more reliant than ever on revenues from iron ore. + +> Yet Australia’s mining is not driven by domestic consumption but rather by overseas buyers, with around two-thirds of its total 2020 export revenues coming from minerals shipped overseas. + +> Australia’s economic growth continued year after year, with no sign of a recession, and money sloshed around all sectors of the economy until the pandemic hit and almost everything slowed to a crawl. I say almost everything because iron kept being dug up at a rapid pace, along with copper ore and coal, to meet strong demand from the Chinese property sector and railway expansion, which also drove a strong upward trend in prices. In 2020, iron ore alone made up 41 per cent of all exports from Australia by value, at about A$149 billion. + +> Unfortunately, 2021 has proved to be the year that the merry-go-round stopped and Australia’s mining industry, and indeed its economy, reached a turning point. The era in which China could be trusted to buy an abundance of Australian dirt, and pay good money for it too, has come to an end – and probably for good. Three things have happened recently that dashed hopes that mining would drive the economic recovery. + +> China has become progressively less keen on spending hard currency on imports, as suggested by the way it suddenly backed away from Australian products in 2020 blamed on a trade spat. This included copper, sugar, timber, barley and the tons of lobsters it refused to pay for or allow in. It would appear Beijing is holding onto its hard currency, indicating it may be getting harder to obtain. + +> China’s demand for iron, coal and copper ore and concentrates are now in a very sharp decline as a pending tidal wave of debt threatens to destroy three property developers – Evergrande, Sinic and Fantasia – and signal the end of China’s building boom. China’s infamous ghost cities are now starting to be demolished, releasing large quantities of scrap iron and copper. The Financial Times estimates there is an abundance of idle property that could house 90 million people, though most likely it never will. This inventory of steel and copper will be recycled, as recycling is cheaper and more energy efficient than smelting from ores. This reduces the need for imported Australian coal. + +> In the 2020s all roads will lead to Beijing, with the expansion of China’s new empire through central Asia to Europe and then south to its new friends in Africa. China has new sources of raw materials and other goods, for which it won’t have to spend its hard-earned US dollar reserves, and the relationships are soundly sealed through loans and infrastructure projects. + +> Simply put, China will no longer need Australian iron, copper and, in time, coal. + +> Steel production in China has already been slashed. As the funding problems surrounding Evergrande mounted it was easy to see where demand would go when construction stopped. With iron ore prices running at twice their average of the past 15 years – US$200 per metric ton versus an average near US$100 per metric ton – why keep making new steel for the construction industry and just build inventory for the sake of it? + +> Demand from other industrial sectors and infrastructure buildout will remain – in particular for railways, with internal expansion clearly defined through 2035. And by demolishing unused buildings and freeing up steel, domestic recycling businesses will benefit. In July the National Development and Reform Commission stated that China’s increased use of scrap would be boosted to 320 million metric tons of steel by 2025, or 23 per cent. It also set ambitious targets for recycling of non-ferrous metals such as copper, aluminium and lead. + +> No matter what analysts say at the moment, as they recover from the shocks of recent weeks, we can safely assume that the effects of the building boom “bust” will last a very long time. Just ask the Japanese about theirs, which dragged on for twenty years. + +> So here is the problem: China is in no great rush to buy iron ore. Or copper, aluminium, or lead. And if it was, it would rather not pay hard currency for it. Restocking of new steel supplies is not likely to happen this year, and I have no faith in analyst predictions that iron ore prices will jump again by the end of the year. By the time the scrap is used up, abundant supplies will be available from Central and West Africa. + +> This is not news to the Australians, who were expecting that African mines would still take several years to come online before disrupting exports from Australia. And the Aussies had been on-site in Africa for years anyway, with lucrative contracts to develop mines for various African governments. However, progress was apparently too slow and China saw an opportunity to jump in. + +> In 2012, China imported about 70 per cent of all the world’s iron ore transported by sea, or about 680 million metric tons, in addition to its domestic production of about 280 million metric tons. About 60 per cent of the imported ore came from Australia. These days, the estimated total output from fully developed mines in West Africa’s Guinea and the Central African republics of Congo and Cameroon is between 400 million and 600 million tons annually – or almost the entire amount China was importing by sea in 2012. + +> In both African locations, massive infrastructure is needed to move the ore out. Two railway lines, one in each part of the continent, amount to about 550km-600km, and then there are port facilities and the machinery required at the mines themselves. Originally, Australian and British firms were looking to construct this, but they got squeezed out by firms using Chinese investment and contractors, which were rather favoured by the respective African governments. Given that Cameroon and Congo see 70 per cent of their financing requirements covered by the Chinese, new alliances were forged, and the Australians saw their licences revoked and stripped from them. + +> It’s now all over, except for the shouting. Large lawsuits are incoming, seeking damages through international arbitration against the African governments for several Australian and British interests totalling some US$40 billion. But this won’t help the Australian economy, even if anything actually gets paid out. + +> China’s property sector will need to adjust and looks likely to end in a property crunch similar to what happened in Japan, which experienced a long period in which property prices held up while transactions stopped – which did nothing to help homeowners or the construction industry and all its suppliers. + +> This suggests that the Australian government is going to have to think long and hard about what it can do domestically to replace the significant revenue streams that are disappearing as exports falter. In its own way, it may have to do something like China and try to boost domestic demand, or at least figure out another way to make money. Perhaps it can rebuild its decimated manufacturing industry and jump on the global supply chain squeeze? How about making semiconductors? A new strategy is needed, and it must be put in place quickly, perhaps importing manufacturing knowhow from Korea or Taiwan. + +> Australia’s example shows how relying on a single customer is too dangerous in business, be it in finance – where I have been caught out occasionally with a hedge fund client blowing up – or digging and selling dirt. At some point everything comes to an end – even your #1 customer. + +> Unfortunately, China’s warning shot for Australia, over lobsters, timber and soft commodities last year, came too late, and now there is a big hole to fill. + +> Neil Newman is a thematic portfolio strategist focused on pan-Asian equity markets +Can someone please explain to me how this is a thing now? As soon as there is an economic meltdown, automatically we socialize it and bail companies out. What ever happened to just letting companies fail and succeed on their own? +Why is this a socialized thing now, ever since 2008? +Anyone else pissed off that we are paying so that corporations can keep on making profits? If not, please explain it to me. +Your markets are run by bots. Now your daily threads are too. + +&#x200B; + +This thread is for plans and thoughts prior to the market open period. + +Maybe use this time to read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) [.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +&#x200B; + +Posts relating to the "Is /r/ASX_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. [You have been warned](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share). + +&#x200B; + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related](https://discord.gg/wsNDGTf5QH). +I was just on the phone with Ally to verify the screenshots I've been seeing about Ally no longer supporting DRS shares. + +The issue appears bigger than this. It isn't just Ally, Apex no longer wants to be a custodian for IRA shares. Not only do they not want to be a custodian, they are in the process of reversing \*all\* drs transfers. Ally claims Apex is reaching out to ComputerShare to pull \*all\* direct registered IRA shares in their custodial name and sending them back to the self-directed IRAs. + +I then spoke to both ComputerShare chat as well as the GME phone line, both confirmed that Apex is the one in control of a container account and there is nothing an account holder can do to prevent it. + +One small loophole I found while discussing with a rep was that we know the site allows for a transfer to another custodial name, even a nonsensical one, as proven by u/youniversawme's post where he made ComputerShare the account owner. The rep on the phone admitted that if we were able to get this to work, it would transfer custodial ownership. At this point, it very much enters NFA territory. It seems that, on paper at least, they will be pulling our shares and we will need to find another custodian. + +Before the "I told you so's" come here and parade, we knew Ally and Apex were a risk, we always have. But I'd prefer to try to direct register my shares than keep them at a broker, and no I will not break them out of my retirement accounts and eat the taxes on that just for ape points among a vocal minority here. We remain individual investors, and this is best for mine and many other's situations. I believe the path forward for apes not willing to to exit their retirement accounts is to find a new custodian. Again, NFA. + +Edit: So I just followed up as they never emailed me followup statements. At this time, they denied my request to provide anything in writing, but they say they will be sending an email out to investors shortly. For anyone hoping to confirm, I would recommend calling them yourselves, as they have been up front about this every time I called today. Interestingly also, the reps appear to be in-the-know about this now. + +Edit2: I should also add that the rep seemed to indicate this was done for legal reasons, Apex may be arguing that there is no legal case for IRA custodians in ComputerShare when they don't "offer" that option. Not justifying the actions, just relaying what I heard. The official statement should be interesting. + +Edit3: + +TA;DR - Apes who used Ally to DRS their IRA accounts are going to have their shares pulled back out of ComputerShare and into Ally's control because the company they use as a clearinghouse (Apex) doesn't want to support this. Ally will be sending an official notice to the affected investors soon. +The true DeFi technology of the future. You literally grow your portfolio just by holding AERDROP. This team is about to change the whole game and no one is seeing it coming. Be one of the chosen few to get in on this at the beginning. + +Weekly Clubhouse Hangouts starting next week! + +[https://www.joinclubhouse.com/join/UrconduitPresents/w7id3qOF/PA3Oa8zO](https://www.joinclubhouse.com/join/UrconduitPresents/w7id3qOF/PA3Oa8zO) + +Succesful 3rd Party Token Aerdrops. Get this coin right now and grow your portfolio! This weekend alone we gave away 3 different partner tokens. Tons more incoming. + +[https://www.aerdrop.finance/](https://www.aerdrop.finance/) + +CMC Listing any day now! + +COINGECKO Listing Approved! + +AMA with Holders and interested investors this weekend went amazing. Lots of confidence behind the community. Come and join the most welcoming family on Tele. Read it here: + +[https://www.reddit.com/r/AerdropOfficial/comments/ncpy61/ama\_05142021/](https://www.reddit.com/r/AerdropOfficial/comments/ncpy61/ama_05142021/) + +Graph continues to prove that these HODLers are the real deal. With all the crypto dumping the last few days, we have remained strong in the 1-2M market cap range. We stand out as a long-term hold, in a sea of pump and dumps. + +Why does our team HODL through the storm? + +AERDROPS + +Our Aerfam receive sizeable airdrops at our milestones (next one is at 5k holders, less than 900 holders away!) + +AERSTATION LAUNCH + +What is AERSTATION you ask? + +Aerdrop will partner with new coins launching in to the BSC space, support them through launch, offer credibility by verifying the legitimacy of their project AND offer instant exposure to their large existing community of passionate hodlers. + +AER holders will receive a share of these 3rd party coins via AERdrops, which will be weighted relative to their AER holdings AND will be given the opportunity to become long term investors in a wide variety of exciting crypto projects from launch. + +This is a win / win situation, the partner coin gets instant credibility for their project, cross marketing opportunities and access to a large pool of crypto savvy investors. AER holders get early access to promising crypto projects at the ground level, FREE AERdropped coins AND the opportunity to choose to be part of many new community projects as they grow!! + +Yup!! You read that right, FREE tokens of AER + the hottest up and coming BSC projects! + +The best part?! THREE partnerships are already confirmed, and several additional negotiations are ongoing. The first 3rd party AERdrops are planned for THIS WEEK!! + +YOU DON’T WANT TO WAIT FOR THAT ONE! + +One partner has committed to providing $10-15k of tokens to Aerdrop holders on launch. Current partner projects are below: + +WeedShare + +[HUP.Life](https://HUP.Life) + +Chuck Norris Token – [https://t.me/chucknorrisroundhousetoken](https://t.me/chucknorrisroundhousetoken) + +COMMUNITY + +People come for the Aerdrops and stay for our amazing community! We know each other by screen name. We pump build each other up, laugh, joke, and work hard to make our project even stronger. In fact, why don’t you check out one of our holders amazing videos? : link to stevens vid + +So many other coins have reached millions/billions in market cap and have been totally useless. We are looking to provide REAL utility with a use-case never seen before in DeFi! + +Okay this sounds UNREAL, any other good news?! 📰 👌 + +The good news on this one is that the majority of positive catalysts for this project haven’t even happened yet. + +CG – Approved ✅ [https://www.coingecko.com/en/coins/aerdrop](https://www.coingecko.com/en/coins/aerdrop) + +CMC listings - ✅ Applied day 1 – Approval incoming any day now, traditionally a huge positive catalyst for defi projects + +Audit - ✅ Ongoing + +Detailed white paper - ✅ A living document, passionately written by the team of developers + +Dev doxxing - ✅ Scheduled for a 75M market cap milestone + +Aerstation platform - ✅ Bespoke platform currently under construction + +Exchange listings - ✅ Uniswap listing in the works +Easiest litmus test in the world. Tell me what a company is expected to ***earn, bottom line*** (free cash flow, net diluted earnings, owner earnings, or discounted cash flow) in the next 10 years, using the companies historical data, logical reasoning, and qualitative observations about company franchise and industry prospects, *without ever incorporating price into the analysis*. + +Can't do that? You're using price to arrive at value. Also known as speculating on crowd behavior, or the [Keynesian Beauty Contest](https://en.wikipedia.org/wiki/Keynesian_beauty_contest). +The blatant and criminal act of market manipulation using dark pools to re route a majority of retail buy orders and the consistent shorting and dodging of ftds by using married puts should be enough proof that Citadel is exploiting the MM privileges they have been granted. + +Just imagine any other party doing this in your face criminal market moves and they would get fucked faster in the arse by the sec than they could say "gimme a banana". + +It is making me furious and strengthening my grip on my gme shares by the minute I think about it. The sec needs to be defunded and not the us police. The true criminals of this world are the thieves that have been stealing the money of hard working folks through the years and blaming everything else on it like nature or the lower class. + +This blind greed and entitlement to market control has to end! +A rental in my hometown was demolished as the police tried to "flush out" a criminal that was in a 24 hour standoff/shootout with them. Looks like they attempted it with a wrecking ball. + +https://www.mlive.com/news/kalamazoo/2021/11/shooting-suspect-in-police-standoff-in-kalamazoo-confirmed-dead-24-hours-after-standoff-began.html +I've been in the stock market for a year now. Around this time last year I pledged that if after 1 year I had gained money from my initial investment I would donate money to a charity that works to end female genital mutilation [original post](https://www.reddit.com/r/ASX_Bets/comments/my2mw8/making_a_pledge_for_all_the_mutated_cunts_out/) + +Unfortunately I am shit at trading and shit at investing. I did not make any money, instead I am down ~12.5%. I bought all the dogs, and missed all the rockets. I made so many dumb decisions. I learned a lot, and part of what I learned was just how fucking stupid I really am. What a humbling year it has been. + +It hasn't all been bad though. I still have some gains as I have made friends along the way, and I cherish these degenerates. Although I can't put a monetary value on these gains, I will donate a dollar for every upvote and two dollars for every comment on this post to [share the dignity](https://www.sharethedignity.org.au). Because I am not rich this will be up to a maximum of $100. + +I have emailed the charity about the 10% refund but am yet to hear back [email](https://imgur.com/a/t87PGSU) + +EDIT: DONATION COMPLETE https://imgur.com/a/1vNckkH +I can offer you two valid and two rather unfortunate reasons. + +The two valid reasons: + +1. Nobody else offers any serious theory of how capital is structured how it works. Given that capital is one of the most important ascepts of the economy - the difference between wealth and poverty is roughly the difference between a combine harvester and a sickle - this is a very big omission. Keynesians and Neo-Classicals simply don't theorize about how capital works. The only competing capital theory to the Austrian one is the Marxists one but that fails because it does not take time preference / time discounting into account. + +2. There are very serious methodological issues with using the methods of the empirical natural sciences in the fields of the human sciences. How can you make an experiment about economic decision-making that is capable of isolating a single factor? How can you repeat that to verify it - with different people you cannot isolate a single factor, with the same people your problem is that they learn... avoiding confounding factors is nearly impossible in empirical social sciences. For example all those "research" about asking 1000 people what they think about X... how do you know that people who think a certain way about that thing are not much less or much more likely to deny participating and not answer? My nuclear physicis friend always gets very angry when social scientist say stuff like racism went down from 4.2 to 3.7 somewhere because just what the bleep do those numbers mean? What is the unit of measure? What does the number predict? Can anyone predict exactly what happens if the number reaches 2 or 7? In his nuclear reactor they can tell rather exactly what happens when certain numbers reach certain values (ka-friggin'-boom...) ... + +The Austrian method offers an alternative goes back to an old tradition in German philosophy (f. e. Edmund Husserl, Max Weber, Wilhelm Dilthey) saying that the proper method in the human sciences is "verstehen", i.e. an _empathic_ understanding how other people think and act, "putting yourself in their shoes". Austrians try to figure out how people think when they make decisions. + +http://en.wikipedia.org/wiki/Wilhelm_Dilthey#The_Distinction_between_the_Natural_Sciences_and_the_Human_Sciences + +This is a valid method for theoretization. Where Austrians go wrong is with the political application of the theory - much like you cannot directly apply perfect Euclidian geometry to the messy, bumpy real world, Austrian Economics has the same problem in politics. It cannot tell you which of the many economic interventions is the worst one. It cannot tell you whether if you remove one economic intervention the effects of some other intervention will be much worse because the previous one has counterbalanced it or not. (F.e. welfare and minimum wage counterbalance each other to a certain extent, one lowering labor supply and the other labor demand. Praxeology cannot tell you which one to remove or reduce first.) All it can tell you that if you would remove ALL interventions tomorrow the world would be a better place. That big-bang approach is a bit too idealistic for politics. So this is where there is a problem with Austrian Economics: in its application in politics. But on the level of pure theoretization it is a valid approach. + +The two unfortunate reasons: + +3. Consider that you are smart young guy at home with lots of free time. You don't have much life experince, neither have access to much empirical data, you could not verify them anyway, you have no research apparatus, and then there are of course the methodological difficulties mentioned above. But you have a good brain, you can read, you can think, you can use logic. Thus _the logical necessarily attracts you a lot more than the empirical_. I cannot go and conduct experiments but I can _think_ - and verify if the logic is right. Partially this is popular of course because understanding complex logic _makes you feel smart_. But also because it is so incredibly awesome that do can do science without building an LHC in your backyard - that you can do science by using nothing else than your brain. You carry a whole faculty in your head with all the apparatus in needs - how awesome is that? Thus smart young people with much free time sitting at home necessarily prefer the logical above the empirical. Same happens in /r/atheism, in /r/philosophy, in /r/politics... perfectly logical thinking but based on very, very limited sets of inputs... + +4. Computer programmers are overrepresented both in Libertarian circles and on Reddit. And computer programmers always prefer the logical to the empirical: that is their job - and passion. Their job is to get the logic right. Getting correct inputs into the logic is someone else's responsibility. Thus they care a lot less about inputs (empiricism, experience, observation) than about logic. This not a big fault, every profession has its certain sets of biases - but one needs to be conscious about it. + +(I am a bit different because I am an ERP programmer and what people expect from me is not only right logic but right outputs, so a large part of my job is going kickin' ass until the inputs are right. Thus I have a lot more respect for the empirical and experiential than most programmers I figure.) +The UK stock market could be in for a rough ride after the headline CPI print on Wednesday saw inflation top double-digits for the first time in 40 years. + +Bond yields shot higher as traders now appear to be preparing for further aggressive action from the BOE. This does raise serious concerns for the market’s mid-term direction, especially when combined with the central bank’s forecasts for sustained negative growth. + +The FTSE100 did manage to hold support near 7500 during yesterday’s declines, but profit-taking after its recent recovery could spark a retest of the index’s key 200-day MA, which has provided significant support, as well as acted as resistance, over the past year. If momentum swings back in favour of bears, a break of this important level could potentially expose the FTSE towards its June/July lows around 7000. + +Of course, all trading carries risk, and given the rebound in global sentiment, buyers could still step-in to support the market on a pullback to the 200-day line. + +Either way it will be interesting to see how the economic outlook evolves throughout the rest of the year, and what that means for equities. +You're exposing some deep deep shit. Please stay safe brother . The elite don't like dirt uncovered. + +Other people that have uncovered information in the past have been at great risk of loosing their life or have gone "missing" + +Please please stay safe. Take great security measures now. + +Thank you for everything you do . +Much love from a fellow ape ✊🦍👐💎👐💎👐💎 + +*Edit* this was not meant to spread any fud . It definitely got more traction than expected and was just trying to be appreciative and show some care. +I went to pick up my paycheck just now and saw it had been direct deposited into an account I don't own or have access to. I am still on probation at this job and am not eligible for direct deposit yet and did not sign any forms. I brought this to the attention of the office manager who immediately called the payroll company and admitted it was her mistake. The company is refusing to issue another check until Monday - which won't deposit into my actual account until Tuesday. I made it explicitly clear that I NEED that money today - I have all my bills set to automatically come from this check in addition to the fact I'm living check to check and don't have enough to survive on for 3 days. I literally have $3.97 in my bank account. Is there anything I can do? + + +EDIT: I received a call from corporate that the company is handling this TODAY, and my check should be in my account by early afternoon. I posted this in a hurry :) BUT thank you for all your answers, I'm realizing how awful my spending habits truly are and this may have inspired another PF post where I lay out all my debt and let you smarties help me out. Have a great morning everyone! + +Edit 2: I HAVE RECEIVED MY FULL CHECK IN MY ACCOUNT. I called every 10 mins until someone from corporate payroll handed it in, in person, at my bank. Also, I already downloaded YNAB just now. Stop telling me I'm irresponsible - message received but that isn't helpful. +I hang with you guys, not the YOLO's at r/WSB, but I'm reading tonight and they're all convinced that the crazy run on GME is just starting (they're also high on BB). + +Maybe I'm just feeling a little FOMO, but I have some FU money and thinking about throwing some money at GME and BB next week just for the rush. Anyone else thinking about it? +Welcome to the **/r/EthTrader** Daily Discussion thread. The thread guidelines are as follows: + +*** + +- Follow the Golden Rule. All other rules apply as well. Follow [this link](https://www.reddit.com/r/ethtrader/about/rules) to view the rest of them. The rules page is also linked in the announcement bar above. +- General discussion topics include, but are not limited to, events of the day, technical analysis, alternative Ethereum projects, or minor questions. +- Breaking news or other important content should be submitted as a separate post. +- In-depth altcoin discussions should be referred to the /r/CryptoCurrency discussion thread. To view the thread, [follow this link](https://www.reddit.com/r/CryptoCurrency/search?q=%5BMonthly+General+Discussion%5D&restrict_sr=on&sort=new&t=all) and choose the latest entry on the search page. +- Pumping, venting, trolling, or any other similar behavior should be redirected to the /r/CryptoMarkets trollbox thread. To view the thread, [follow this link](https://www.reddit.com/r/CryptoMarkets/search?q=Trollbox+Thread&sort=new&restrict_sr=on&t=all) and choose the latest entry on the search page. + +*** + +Thank you in advance for your participation. Enjoy! + +(Though it's no excuse of course) I have been rather busy this past month and recently got sick and forgot to pay my Chase credit card bill, which meant I ended up with a $25 late fee. I just paid today, which was about 2 days late, and immediately after paying online, I called their customer service number. + +Funnily enough, I didn't even have to ask for her to refund the late fee, because she knew right away that that was what I was calling for. I remained polite and she refunded it for me. (I also have the fact that I typically pay the bill on time and this was my first time paying late, so if you're a late payer, this is probably not the best policy). + +There's no harm in asking! +I had a job interview today and got the job but oh goodness... the bullcrap that you have to say just to get hired is just so cringey. + +An important value in my life is to be authentic, honest and down to earth, but when money and jobs are involved I start talking and acting the way they want me to...and honestly it makes me so sick. + +Money makes me desperate and I don't like it. + +I want freedom. Freedom from the rat race. Freedom from the bullshit they make you spew. Freedom to be myself in this scary world. I want to make money on my own terms. + +Today I started a little business of basically buying stuff at ridiculously low prices and flipping them for profit, but even after only one day I realized how hard it is to make any sort of money doing this. It was discouraging and slightly depressing. I'm not afraid of the grind and realize I have to work HARD for my freedom, but man, after today I'm feeling pretty hopeless. + +So this is kinda all over the place but here's my question (s): + +(TLDR): How did you get started? What was your epiphany? What can you do as someone who is trying to escape the rat race and improve his/her finances? +Almost every day people come to this subreddit asking the same basic questions over and over again. I've put this guide together to point you in the right direction and help you get started on your forex journey. + +&#x200B; + +A quick background on me before you ask: My name is Bob, I'm based out of western Canada. I started my forex journey back in January 2018 and am still learning. However I am trading live, not on demo accounts. I also code my own EA's. I not certified, licensed, insured, or even remotely qualified as a professional in the finance industry. **Nothing I say constitutes financial advice.** Take what I'm saying with a grain of salt, but everything I've outlined below is a synopsis of some tough lessons I've learned over the last year of being in this business. + +&#x200B; + +**LET'S GET SOME UNPLEASANTNESS OUT OF THE WAY** + +&#x200B; + +I'm going to call you stupid. I'm also going to call you dumb. I'm going to call you many other things. I do this because odds are, you are stupid, foolish,and just asking to have your money taken away. Welcome to the 95% of retail traders. Perhaps uneducated or uninformed are better phrases, but I've never been a big proponent of being politically correct. + +&#x200B; + +Want to get out of the 95% and join the 5% of us who actually make money doing this? Put your grown up pants on, buck up, and don't give me any of this pc "This is hurting my feelings so I'm not going to listen to you" bullshit that the world has been moving towards. + +&#x200B; + +Let's rip the bandage off quickly on this point - **the world does not give a fuck about you**. At one point maybe it did, it was this amazing vision nicknamed the American Dream. It died an agonizing, horrible death at the hand of capitalists and entrepreneurs. The world today revolves around money. Your money, my money, everybody's money. People want to take your money to add it to theirs. They don't give a fuck if it forces you out on the street and your family has to live in cardboard box. The world just stopped caring in general. It sucks, but it's the way the world works now. Welcome to the new world order. It's called Capitalism. + +&#x200B; + +And here comes the next hard truth that you will need to accept - **Forex is a cruel bitch of a mistress. She will hurt you. She will torment you. She will give you nightmares. She will keep you awake at night. And then she will tease you with a glimmer of hope to lure you into a false sense of security before she then guts you like a fish and shows you what your insides look like.** This statement applies to all trading markets - they are cruel, ruthless, and not for the weak minded. + +&#x200B; + +The sooner you accept these truths, the sooner you will become profitable. Don't accept it? That's fine. Don't bother reading any further. If I've offended you I don't give a fuck. You can run back home and hide under your bed. The world doesn't care and neither do I. + +&#x200B; + +For what it's worth - I am not normally an major condescending asshole like the above paragraphs would suggest. In fact, if you look through my posts on this subreddit you will see I am actually quite helpful most of the time to many people who come here. But I need you to really understand that **Forex is not for most people**. **It will make you cry. And if the markets themselves don't do it, the people in the markets will.** + +&#x200B; + +**LESSON 1 - LEARN THE BASICS** + +&#x200B; + +Save yourself and everybody here a bunch of time - learn the basics of forex. You can learn the basics for free - BabyPips has one of the best free courses online which explains what exactly forex is, how it works, different strategies and methods of how to approach trading, and many other amazing topics. + +&#x200B; + +You can access the BabyPips course by clicking this link: [**https://www.babypips.com/learn/forex**](https://www.babypips.com/learn/forex) + +&#x200B; + +Do EVERY course in the School of Pipsology. It's free, it's comprehensive, and it will save you from a lot of trouble. It also has the added benefit of preventing you from looking foolish and uneducated when you come here asking for help if you already know this stuff. + +&#x200B; + +If you still have questions about how forex works, please see the FREE RESOURCES links on the /r/Forex FAQ which can be found here: [**https://www.reddit.com/r/Forex/wiki/index**](https://www.reddit.com/r/Forex/wiki/index) + +&#x200B; + +**Quiz Time** + +Answer these questions truthfully to yourself: + +&#x200B; + +\-What is the difference between a market order, a stop order, and a limit order? + +\-How do you draw a support/resistance line? (Demonstrate it to yourself) + +\-What is the difference between MACD, RSI, and Stochastic indicators? + +\-What is fundamental analysis and how does it differ from technical analysis and price action trading? + +\-True or False: It's better to have a broker who gives you 500:1 margin instead of 50:1 margin. Be able to justify your reasoning. + +&#x200B; + +If you don't know to answer to any of these questions, then you aren't ready to move on. Go back to the School of Pipsology linked above and do it all again. + +&#x200B; + +If you can answer these questions without having to refer to any kind of reference then congratulations, you are ready to move past being a forex newbie and are ready to dive into the wonderful world of currency trading! Move onto Lesson 2 below. + +&#x200B; + +**LESSON 2 - RANDOM STRANGERS ARE NOT GOING TO HELP YOU GET RICH IN FOREX** + +&#x200B; + +This may come as a bit of a shock to you, but that random stranger on instagram who is posting about how he is killing it on forex is not trying to insprire you to greatness. He's also not trying to help you. He's also not trying to teach you how to attain financial freedom. + +&#x200B; + +99.99999% of people posting about wanting to help you become rich in forex are **LYING TO YOU**. + +&#x200B; + +Why would such nice, polite people do such a thing? Because **THEY ARE TRYING TO PROFIT FROM YOUR STUPIDITY**. + +&#x200B; + +Plain and simple. Here's just a few ways these "experts" and "gurus" profit from you: + +&#x200B; + +* **Referral Links** \- If they require you to click a specific link to signup for something, it means they are an affiliate. They get a commission from whatever the third party is that they are sending you to. I don't care if it's a brokerage, training program, hell even an Amazon link to a book - if they insist you have to click their super exclusive, can't-get-this-deal-any-other-way-but-clicking-my-link type bullshit, it's an affiliate link. There is nothing inherently wrong with affiliate programs, but you are literally generating money for some stranger because they convinced you to buy something. Some brokers such as ICMarkets have affiliate programs that payout a percentage of the commission you generate - this is a really clever system - whether you profit or blow your entire account, the person who referred you to the broker makes a profit off you. Clever eh? +* **Signal Services, Education & Training Programs, Courses** \- If somebody is telling you they are making a killing with a signal service and are trying to convince you to join it, I guarantee they are getting a piece of your monthly fee. And better still, these signal services often work...for about a week. Just long enough to suck a bunch of poor fools into it. You see people making money, you want in so you agree to pay the $200+/month subscription fee. You follow the signals and it looks like it's making money for a few days or weeks. Then it turns sideways, you start losing money hand over fist. Pretty soon you have lost most of your trading account because you blindly followed a signal service. And better still - when you go screaming at the person running the signal service they will be very quick to point you to their No Refunds policy. To add insult to injury, the buttfucker that referred you to the signal service in the past will likely listen to you getting mad, and then come back with something like "Sorry it didn't work out, but I just joined this other amazing service and it's working great, you should come join it to earn your money back. Here's my link..." You get the point here right? +* **Multi-Level Marketing (MLMs)** \- These people are scum. They are going to offer you training and education, signals, access to forex experts and gurus, and all kinds of other shit with the promise that you will live the dream and become financially free. They are also loading you into a pyrmaid scheme where you will be hounded to recruit other people and make money off them just like you got roped into it. A really prime example here is iMarkets Live (or IML for short). Don't touch this shit with a 10 foot pole. I don't care what they are claiming, you will lose everything using them. +* **Fund Managers** \- These people make my skin crawl. It's a classic scam and it works like this - somebody will post online about how much money they are making trading forex/commodities/stocks/whatever. Most of the time they won't explicitly post they are offering a trading service, rather they just put the message out there and wait for the ignorant masses (that's you) to contact them. They will charm you. They will lie to you. They will promise you the moon if you simply wire them some money or give them API access to your trading account. Care to guess what happens next? If you send a wire transfer (or Western Union...hell any kind of payment to them) they will vanish. Happens usually after they take a bunch of suckers for the ride. You sent them $2,000 and so do 9 other suckers. They just made $20,000 and are gone. With API access to your account, you will find your account gets blown super fast or worse - possibly leaving you open to persecution by the broker you are using. + +&#x200B; + +These are just a few examples. The reality is that very few people make it big in forex or any kind of trading. If somebody is trying to sell you the dream, they are essentially a magician - making you look the other way while they snatch your wallet and clean you out. + +&#x200B; + +Additionally, on the topic of fund managers - **legitimate fund managers will be certified, licensed, and insured**. Ask them for proof of those 3 things. What they typically look like are: + +* **Certified** \- This varies from country to country, in the US it's FINRA ([http://www.finra.org](http://www.finra.org)). They need to have their Series 7 certification minimum. You can make the case that other FINRA certifications are acceptable in lieu of Series 7, but the 7 is the gold standard. +* **Licensed** \- They need to have a valid business license issued by the government. It must clearly state they are an investment company, preferrably a hedge fund because they have some super strict requirements to operate (and often require $25,000+ in fees just to get their business license, so you know they at least have some skin in the game). +* **Insured** \- They need to be backed by an insurance company. I'm not talking general insurance for shit like their office burning down. I'm talking about a government-implemented protection insurance program - in the US I believe that is issued by the Securities Investment Protection Corporation ([https://www.sipc.org/](https://www.sipc.org/)). + +&#x200B; + +If you are talking to a fund manager and they are insisting they have all of these, **get a copy of their verification documents and lookup their licenses on the directories of the issuers to verify they are valid**. If they are, then at least you are talking to somebody who seems to have their shit together and is doing investment management and trading as a professional and you are at least partially protected when the shit hits the fan. + +&#x200B; + +&#x200B; + +**LESSON 3 - UNDERSTAND YOUR RISK** + +&#x200B; + +Many people jump into Forex, drop $2000 into a broker account and start trading 1 lot orders because they signed up with a broker thinking they will get rich because they were given 500:1 margin and can risk it all on each trade. Worst-case scenario you lose your account, best case scenario you become a millionaire very quickly. Seems like a pretty good gamble right? You are dead wrong. + +&#x200B; + +As a new trader, you should never risk more than 1% of your account balance on a trade. If you have some experience and are confident and doing well, then it's perfectly natural to risk 2-3% of your account per trade. **Anybody who risks more than 4-5% of their account on a single trade deserves to blow their account. At that point you aren't trading, you are gambling. Don't pretend you are a trader when really you are just putting everything on red and hoping the roulette ball lands in the right spot.** It's stupid and reckless and going to screw you very quickly. + +&#x200B; + +Let's do some math here: + +&#x200B; + +You put $2,000 into your trading account. + +**Risking 1%** means you are willing to lose $20 per trade. That means you are going to be trading micro lots, or 0.01 lots most likely ($0.10/pip). At that level you can have a trade stop loss at -200 pips and only lose $20. It's the best starting point for anybody. Additionally, if you SL 20 trades in a row you are only down $200 (or 10% of your account) which isn't that difficult to recover from. + +**Risking 3%** means you are willing to lose $60 per trade. You could do mini lots at this point, which is 0.1 lots (or $1/pip). Let's say you SL on 20 trades in a row. You've just lost $1,200 or 60% of your account. Even veteran traders will go through periods of repeat SL'ing, you are not a special snowflake and are not immune to periods of major drawdown. + +**Risking 5%** means you are willing to lose $100 per trade. SL 20 trades in a row, your account is blown. As Red Foreman would call it - Good job dumbass. + +&#x200B; + +Never risk more than 1% of your account on any trade until you can show that you are either consistently breaking even or making a profit. By consistently, I mean 200 trades minimum. You do 200 trades over a period of time and either break-even or make a profit, then you should be alright to increase your risk. + +&#x200B; + +Unfortunately, this is where many retail traders get greedy and blow it. They will do 10 trades and hit their profit target on 9 of them. They will start seeing huge piles of money in their future and get greedy. They will start taking more risk on their trades than their account can handle. + +&#x200B; + +**200 trades of break-even or profitable performance risking 1% per trade. Don't even think about increasing your risk tolerance until you do it. When you get to this point, increase you risk to 2%. Do 1,000 trades at this level and show break-even or profit.** If you blow your account, go back down to 1% until you can figure out what the hell you did differently or wrong, fix your strategy, and try again. + +&#x200B; + +Once you clear 1,000 trades at 2%, it's really up to you if you want to increase your risk. I don't recommend it. Even 2% is bordering on gambling to be honest. + +&#x200B; + +&#x200B; + +**LESSON 4 - THE 500 PIP DRAWDOWN RULE** + +&#x200B; + +This is a rule I created for myself and it's a great way to help protect your account from blowing. + +&#x200B; + +Sometimes the market goes insane. Like really insane. Insane to the point that your broker can't keep up and they can't hold your orders to the SL and TP levels you specified. They will try, but during a flash crash like we had at the start of January 2019 the rules can sometimes go flying out the window on account of the trading servers being unable to keep up with all the shit that's hitting the fan. + +&#x200B; + +Because of this I live by a rule I call the 500 Pip Drawdown Rule and it's really quite simple - **Have enough funds in your account to cover a 500 pip drawdown on your largest open trade**. I don't care if you set a SL of -50 pips. During a flash crash that shit sometimes just breaks. + +&#x200B; + +So let's use an example - you open a 0.1 lot short order on USDCAD and set the SL to 50 pips (so you'd only lose $50 if you hit stoploss). An hour later Trump makes some absurd announcement which causes a massive fundamental event on the market. A flash crash happens and over the course of the next few minutes USDCAD spikes up 500 pips, your broker is struggling to keep shit under control and your order slips through the cracks. By the time your broker is able to clear the backlog of orders and activity, your order closes out at 500 pips in the red. You just lost $500 when you intended initially to only risk $50. + +&#x200B; + +It gets kinda scary if you are dealing with whole lot orders. A single order with a 500 pip drawdown is $5,000 gone in an instant. That will decimate many trader accounts. + +&#x200B; + +Remember my statements above about Forex being a cruel bitch of a mistress? I wasn't kidding. + +&#x200B; + +Granted - the above scenario is very rare to actually happen. But glitches to happen from time to time. Broker servers go offline. Weird shit happens which sets off a fundamental shift. Lots of stuff can break your account very quickly if you aren't using proper risk management. + +&#x200B; + +&#x200B; + +**LESSON 5 - UNDERSTAND DIFFERENT TRADING METHODOLOGIES** + +&#x200B; + +Generally speaking, there are 3 trading methodologies that traders employ. It's important to figure out what method you intend to use before asking for help. Each has their pros and cons, and you can combine them in a somewhat hybrid methodology but that introduces challenges as well. + +&#x200B; + +In a nutshell: + +* **Price Action Trading (Sometimes called Naked Trading)** is very effective at identifying when trends will start and finish. This gives you the advantage of staying ahead of the market and predicting when a change in trend direction will occur. It has the disadvantage of being really easy to screw it up if you don't plot your support and resistance lines properly and interpret the chart wrong. Because you can identify a change in trend direction, you'll generally make more profit on a new trend than a technical strategy will. +* **Technical Analytics (or TA)** uses math and statistics to try and identify where the market is headed or confirm/reject whether a trend is happening. It has the advantage of being very math and stat driven which is hard to refute the numbers, but it has the disadvantage of being late to the party when it comes to identifying trends (hence why people call TA a lagging strategy). When people fail using TA, it's not because of the math - it's because you misinterpreted what the math is telling you. +* **Fundamental Analysis (or FA)** uses news and macro scale events to predict what is going on. A really good example right now is Brexit, what a clusterfuck that is. Every time some major brexit news breaks it causes all sorts of choas in almost every currency pair. Fundamental trading has the highest potential profitability per trade but it also has the highest potential drawdown per trade. + +&#x200B; + +Now you may be thinking that you want to be a a price action trader - you should still learn the principles and concepts behind TA and FA. Same if you are planning to be a technical trader - you should learn about price action and fundamental analysis. More knowledge is better, always. + +&#x200B; + +With regards to technical analysis, you need to really understand what the different indicators are tell you. It's very easy to misinterpret what an indicator is telling you, which causes you to make a bad trade and lose money. It's also important to understand that every indicator can be tuned to your personal preferences. + +&#x200B; + +You might find, for example, that using Bollinger Bands with the normal 20 period SMA close, 2 standard deviation is not effective for how you look at the chart, but changing that to say a 20 period EMA average price, 1 standard deviation bollinger band indicator could give you significantly more insight. + +&#x200B; + +&#x200B; + +**LESSON 6 - TIMEFRAMES MATTER** + +&#x200B; + +Understanding the differences in which timeframes you trade on will make or break your chosen strategy. Some strategies work really well on Daily timeframes (i.e. Ichimoku) but they fall flat on their face if you use them on 1H timeframes, for example. + +&#x200B; + +**There is no right or wrong answer on what timeframe is best to trade on**. Generally speaking however, there are 2 things to consider: + +&#x200B; + +* **Speed** \- If you are scalping (trading on the really fast candles like 1M, 5M, 15M, etc) odds are your trades are very short lived. Maybe 10 minutes to an hour tops. For the most part, scalping strategies will produce little profit per trade but make up for it in the sheer volume of trades. Whereas swing trading may only make a few trades but each one could be worth a significant amount of money. +* **Spread** (the fee you pay to the broker when you trade) - If you are a scalper, the spread is your worst enemy because you have to overcome it very fast to make a profit on your order. Whereas swing trading the spread hardly impacts you at all. + +&#x200B; + +If you are a total newbie to forex, **I suggest you don't trade on anything shorter than the 1H timeframe when you are first learning**. Trading on higher timeframes tends to be much more forgiving and profitable per trade. Scalping is a delicate art and requires finesse and can be very challenging when you are first starting out. + +&#x200B; + +&#x200B; + +**LESSON 7 - AUTOBOTS...ROLL OUT!** + +&#x200B; + +Yeah...I'm a geek and grew up with the Transformers franchise decades before Michael Bay came along. Deal with it. + +&#x200B; + +Forex bots are called EA's (Expert Advisors). They can be wonderous and devastating at the same time. /r/Forex is not really the best place to get help with them. That is what /r/algotrading is useful for. However some of us that lurk on /r/Forex code EA's and will try to assist when we can. + +&#x200B; + +Anybody can learn to code an EA. But just like how 95% of retail traders fail, I would estimate the same is true for forex bots. Either the strategy doesn't work, the code is buggy, or many other reasons can cause EA's to fail. Because **EA's can often times run up hundreds of orders in a very quick period of time, it's critical that you test them repeatedly before letting them lose on a live trading account so they don't blow your account to pieces**. You have been warned. + +&#x200B; + +If you want to learn how to code an EA, I suggest you start with MQL. It's a programming language which can be directly interpretted by Meta Trader. The Meta Trader terminal client even gives you a built in IDE for coding EA's in MQL. The downside is it can be buggy and glitchy and caused many frustrating hours of work to figure out what is wrong. + +&#x200B; + +If you don't want to learn MQL, you can code an EA up in just about any programming language. Python is really popular for forex bots for some reason. But that doesn't mean you couldn't do it in something like C++ or Java or hell even something more unusual like JQuery if you really wanted. + +&#x200B; + +I'm not going to get into the finer details of how to code EA's, there are some amazing guides out there. Just be careful with them. They can be your best friend and at the same time also your worst enemy when it comes to forex. + +&#x200B; + +**One final note on EA's - don't buy them. Ever.** Let me put this into perspective - I create an EA which is literally producing money for me automatically 24/5. If it really is a good EA which is profitable, there is no way in hell I'm selling it. I'm keeping it to myself to make a fortune off of. EA's that are for sale will not work, will blow your account, and the developer who coded it will tell you that's too darn bad but no refunds. Don't ever buy an EA from anybody. + +&#x200B; + +**LESSON 8 - BRING ON THE HATERS** + +&#x200B; + +You are going to find that this subreddit is frequented by trolls. Some of them will get really nasty. Some of them will threaten you. Some of them will just make you miserable. It's the price you pay for admission to the /r/Forex club. + +&#x200B; + +If you can't handle it, then I suggest you don't post here. Find a more newbie-friendly site. It sucks, but it's reality. + +&#x200B; + +We often refer to trolls on this subreddit as shitcunts. That's your word of the day. Learn it, love it. Shitcunts. + +&#x200B; + +&#x200B; + +**YOU MADE IT, WELCOME TO FOREX!** + +&#x200B; + +If you've made it through all of the above and aren't cringing or getting scared, then welcome aboard the forex train! You will fit in nicely here. Ask your questions and the non-shitcunts of our little corner of reddit will try to help you. + +&#x200B; + +Assuming this post doesn't get nuked and I don't get banned for it, I'll add more lessons to this post over time. Lessons I intend to add in the future: + +* Demo Trading +* Why you will blow your first account and what to do when it happens +* Trading Psychology (this will be a beefy one and will take a while to put together) +* Exotics vs Majors and which you should focus on as a newbie (aka how to blow your account in a single trade with exotics) +* Which Broker Should You Use? (This is covered in pretty good detail on the FAQ already - [https://www.reddit.com/r/Forex/wiki/index](https://www.reddit.com/r/Forex/wiki/index) \- so I may not bother) +* Hedging (there isn't really a good guide written on this anywhere) +* Doubling Your Risk to Save Your Ass or Lose a Shit Ton (aka Martingale & Anti-Martingale) +* Risk On/Off +* Forex Calendars +* Currency Strength / Heat Maps +* Swap +* Margin Calls (What are they and why are you getting them?) + +If there is something else you feel should be included please drop a comment and I'll add it to the above list of pending topics. + +&#x200B; + +Cheers, + +&#x200B; + +Bob + +&#x200B; + +&#x200B; + +&#x200B; +I want to make it very simple for you, apes; + +**If this market/economy were in a healthy place there would be no reverse repo.** + +There would be no reason for institutions to throw ALMOST A TRILLION DOLLARS into it, AT INTEREST. + +Banks would not be basically throwing fucking loans and credit cards at people to take their liabilities off of their hands. + +HOUSING WOULD NOT BE 20-30% ABOVE ASKING PRICE. + +Alternate currencies would not be pumped and dumped CONSTANTLY and always on a fucking weekend as if being used BLATANTLY by liability dodging financial institutions and a complicit government who is afraid of people fleeing to an alternative when their inflation rates are consistently fucking high. + +Apologies for this next bit, but I tend to speak softly- + +THIS MONEY WOULD BE IN THE MARKET IF THE MARKET WERE HEALTHY. THESE INSTITUTIONS ALL HAVE SPECIAL CONNECTIONS AND VERY INTELLIGENT ECONOMIC SPECIALISTS. DO THE PEOPLE ON INSIDE JOB SEEM LIKE THEY WERE CAUGHT OFF GUARD? + +**THEY DO NOT TURN DOWN THE OPPORTUNITY TO MAKE MONEY IN THE MARKET LIGHTLY. THE OPPORTUNITY IS GONE** + +They want to slow the velocity of money, and they want to stave off the inflation until their specific political agendas can be filled. + +We need government to stand up and be HONEST. I am tired of being lied to and gaslit by dickheads in suits. +[https://www.marketwatch.com/story/microstrategy-shares-slump-as-bitcoin-margin-call-looms-11655111047](https://www.marketwatch.com/story/microstrategy-shares-slump-as-bitcoin-margin-call-looms-11655111047) + +It's unfathomable that the CFO of an over-leveraged public company whose major (and virtually only) asset has declined by 56% would say, "not to worry, we won't face margin calls unless the decline reaches 70%". + +Well one week later, the decline in **the coin that shall not be named** has reached 65% pal. +Sorry long post. + +I've been chatting to my wife, and when our kids reach the age of 30 or are buying their first property (whichever happens first), we are thinking of gifting them 50% each of literally everything we can afford -= only leaving enough with us to ensure we will not become a financial incumbrance to them later. This includes selling the big family home and us moving into much smaller rented accommodation and throwing that money into the pot they get. + +We would make crystal clear to our kids 'This is it, this is the lot .. when we actually do die, and the solicitor reads that will, it's going to be pennies as we're just leaving ourselves enough to muddle through WHICH IS ALL WE WANT. Consider this, today, our actual financial legacy to you'. + +We'd get a shit-ton more happiness from seeing our children flourish than any material goods. And with them getting approx. £600,000 - £700,000 cash each (todays money) - I mean .. that's life changing stuff right there for a 30 year old or first time property buyer - so why make them wait until we kick the bucket and then we don't even get to see them use it? + +Why this post? + +Well, the idea seems somewhere between rare and non-existent in society - I don't know anyone else who has even considered this. + +So rare that me and the wife think maybe there's some problem conceptually - some tax ramification or legality or technical issue with the plan. I mean, I told my drinking friends and they looked at me like I was mental - but couldn't really explain why. My brothers think the idea is bonkers, but again, they can't really verbally articulate technically the problem, just 'Sorry Britboy, but that's madness mate' .. + +We will be about 62 years old when my kids hit 30. + +If anyone can say 'listen friend, that idea is perfectly achievable' OR 'listen friend, you ain't considered a few damn important factors to be honest ...' .. would hugely appreciate it.. +and I want to remind you that you're not alone. I'm broke as hell too. And so are so many of our customers. I see people with 2 kids in the back and $40 in their account depositing their paycheck to eat that week. I see the single woman living in her overdraft, getting charged $29 for each overdraw because she had a medical bill and now cant get her account positive. I see the elderly folks living Social Security check to Social Security check, barely keeping their heads above water. I see the rural farmer hoping the money from selling a calf will get him through the winter months. I see myself, the one put on part time, slowly draining my savings to be able to pay rent. + +And of course I see the wealthy people. But let me tell you, before working at a bank, I thought a lot of people were more well off than they are. We're all out here struggling through this capitalist shitshow of a world. + +I believe in you. + +Edit: quick note, the bank I work at services areas in Missouri, Oklahoma, and Texas, and my job involves video chatting and doing transactions for people in all of those places. I've been here since January +In 2010 legendary investor and founder of the Baupost Group Seth Klarman described in his annual letter 20 lessons from the financial crisis which were either never learned or else immediately forgotten by most market participants. With him at the helm the Baupost Group has averaged around 18% and that since 1982 - a spectacular return. Some of these lessons are even more relevant today. I took the most important ones and updated it for the current market. + +&#x200B; + +>Things that have never happened before are bound to occur with some regularity. You must always be prepared for the unexpected, including sudden, sharp downward swings in markets and the economy. Whatever adverse scenario you can contemplate, reality can be far worse. + +Nassim Taleb calls these “Black Swans”: an event that comes as a surprise, has a major effect, and is often inappropriately rationalized after the fact with the benefit of[ ](https://en.wikipedia.org/wiki/Hindsight)hindsight. Examples would be the Internet, the personal Computer, World War I, the dissolution of the Soviet Union, 9/11 and of course the Coronavirus. + +These all changed countries or continents for decades. With shutdown still in place in several countries in the world the economy’s output is much lower than it was at the end of 2019 - yet we reached an all time high in the stock market. New Mutations are evolving and there might be a sharp downturn in the future or there might not. History taught us that market crashes are much more common than we think. So it is important to be diversified in different asset classes, industries and countries to be protected against those changes. + +&#x200B; + +>When excesses such as lax lending standards become widespread and persist for some time, people are lulled into a false sense of security, creating an even more dangerous situation. In some cases, excesses migrate beyond regional or national borders, raising the ante for investors and governments. These excesses will eventually end, triggering a crisis at least in proportion to the degree of the excesses. Correlations between asset classes may be surprisingly high when leverage rapidly unwinds. + +With interest rates in Europe being partly negative and extremely low in the US, people are lulled into borrowing to get onto the Party of rising stocks, and that on margin. Margin on Portfolio reached an all time high in December of 2020 and the number of retail traders thanks to Robin Hood exploded even with the recent controversy. In addition - central banks in Europe and the US are printing money like there is no tomorrow. These money policies have driven stocks to a new high. And the excess of government debt mirrored that progression. Action always have consequences - but however harsh they may be one thing is certain: If the current price is higher, the returns won’t be as great in the future. + +&#x200B; + +>Nowhere does it say that investors should strive to make every last dollar of potential profit; consideration of risk must never take a backseat to return. Conservative positioning entering a crisis is crucial: it enables one to maintain long-term oriented, clear thinking, and to focus on new opportunities while others are distracted or even forced to sell. Portfolio hedges must be in place before a crisis hits. One cannot reliably or affordably increase or replace hedges that are rolling off during a financial crisis. + +We all chase profits, that is just how it is. However conservative positioning and a long-term oriented perspective is crucial. Most people in 2000 thought they would buy the dip when their favourite stocks started to decline, however the decline didn’t stop. The Nasdaq posted a loss of 77%, which would take 15 years to regain the dotcom bubble. During the financial crisis many couldn’t sell their stock because there were no buyers - even retail investors that thought they could get out couldn’t. + +During it Janus Funds were similar to ARK today. Investing in modern technology companies and industry they were one of the top cutting edge technologies. Janus were lauded as great money managers but the end of the bubble resulted in brutal loses. Cathie Wood is one of the smartest investors today, but one has to keep in mind the inherent risk that comes with her investment strategy. + +Similarly we saw extreme loses in GME. Chasing after returns purely on performance will not result in great results. + +&#x200B; + +>Risk is not inherent in an investment; it is always relative to the price paid. Uncertainty is not the same as risk. Indeed, when great uncertainty – such as in the fall of 2008 – drives securities prices to especially low levels, they often become less risky investments. + +This is the quintessential art of investing. Your returns will entirely depend on what price you paid. Microsoft was a great company, but buying it during the dotcom bubble would leave you 15 years with no returns and several other well known companies like Cisco or Intel never reached their dot-com peak. Your returns are entirely dependent on the price you pay and so is the risk factor. + +&#x200B; + +>Do not trust financial market risk models. Reality is always too complex to be accurately modeled. Attention to risk must be a 24/7/365 obsession, with people – not computers – assessing and reassessing the risk environment in real time. Despite the predilection of some analysts to model the financial markets using sophisticated mathematics, the markets are governed by behavioral science, not physical science. + +Because of this behavior we see certain securities being extremely highly valued like Zoom at the moment and certain sectors being very depressed like oil until recently. Yet oil is seen as extremely risky, even though the projected use of oil will increase in the next 10 years. That means that you can find bargains all the time. Those bargains are declared risky - while the overvalued stocks are declared safe. Microsoft after the dotcom bubble only recovered in 2016. 15 years of no gains at all - yet now Microsoft is treated like a company that will be a great stock forever. It is a great company, but the same was thought about companies like Polaroid or Kodak - we saw how it turned out. + +&#x200B; + +>Do not accept principal risk while investing short-term cash: the greedy effort to earn a few extra basis points of yield inevitably leads to the incurrence of greater risk, which increases the likelihood of losses and severe illiquidity at precisely the moment when cash is needed to cover expenses, to meet commitments, or to make compelling long-term investments. + +This can be highly dangerous and I see it all the time here on reddit. Someone wants to use the money in 3-5 years to buy a house, yet instead of proposing a portfolio that is safe and diversified in several asset classes, most propose a stock only portfolio and sometimes even sector or ARK ETFs. Research has shown that a stock only portfolio will beat pretty much every other asset allocation - that is over the long term. Due to the ups and downs of the market it doesn’t guarantee returns in 3-5 years or even worse can lead to loses. From 1929-1954,1973-1982 and from 2000-2013 the S&P 500 has shown long stretches of no absolute return. Investing before a correction that you cannot foresee would result in either big loses or in the inability to purchase that house - often both. So be conservative when you need the money. + +&#x200B; + +>The latest trade of a security creates a dangerous illusion that its market price approximates its true value. This mirage is especially dangerous during periods of market exuberance. The concept of "private market value" as an anchor to the proper valuation of a business can also be greatly skewed during ebullient times and should always be considered with a healthy degree of skepticism. + +This is especially true today. Many stocks are currently at outrageous prices. I don’t talk about the FANGMAN stocks - these have great growth and while still being historically overvalued not outrageously so. Several EV/Green/Biotech/Weed/Technology stocks are seen as the next big Google without decent cash flows and while competing in the same space. + +This is especially true for unprofitable companies at the moment. According to Joel Greenblatt: If you bought every company that lost money in 2019 that had a market cap over $1 billion, and so they’re about 261 companies, you’ll be up 85 percent so far until today. Something like that won’t be sustainable.Looking at the fundamentals behind the business often makes it clear how unreasonable some of these numbers are - and what returns should be expected of them (often negative) + +&#x200B; + +>You must buy on the way down. There is far more volume on the way down than on the way back up, and far less competition among buyers. It is almost always better to be too early than too late, but you must be prepared for price markdowns on what you buy. + +We saw that during the financial crisis and also again in 2020. Those that bought on the way down were generously rewarded. You never know when the bottom will hit especially since everyone will run around in panic like a beheaded henn. Researching the fundamentals of a company one can score great businesses for cheap. However they might go down a bit in the short term due to market panic. + +&#x200B; + +>Financial innovation can be highly dangerous, though almost no one will tell you this. New financial products are typically created for sunny days and are almost never stress-tested for stormy weather. Securitization is an area that almost perfectly fits this description; markets for securitized assets such as subprime mortgages completely collapsed in 2008 and have not fully recovered. Ironically, the government is eager to restore the securitization markets back to their pre-collapse stature. + +As SPACs and Bitcoin dominate the current market this warning is very important. SPACs and the companies behind them haven’t had the greatest return over the long term. With the explosion of SPACs going public, chances are high that those financial products can be very dangerous. Add the risk that SPAC managers often get big compensation packages and try to hide information to increase the price (DOJ Investigation from Clover), these investments should be taken with the utmost caution. Not only that but they also compete in the same space. + +The same applies to bitcoin. While I believe that cryptocurrencies will have a bright future, they have yet to be tested during prolonged market downturn where the market was negative not just a few week but several months or even years. No one know what the price will be then and some investors might wake up to a bad surprise. It is important to know these risks. + +&#x200B; + +>Ratings agencies are highly conflicted, unimaginative dupes. They are blissfully unaware of adverse selection and moral hazard. Investors should never trust them. + +That what makes short seller research so important. While there are a lot of crocks in the financial market (both on the long and the short side), these people often find what the rating agencies or investment banks ignore. If you invest into a company and there is a short report don’t dismiss it - often they include information that was previously overlooked. + +&#x200B; + +>Be sure that you are well compensated for illiquidity – especially illiquidity without control – because it can create particularly high opportunity costs. + +The OTC market absolutely exploded in 2020. Many of these are highly illiquid. Be prepared for the risk. + +&#x200B; + +>Beware leverage in all its forms. Borrowers – individual, corporate, or government – should always match fund their liabilities against the duration of their assets. Borrowers must always remember that capital markets can be extremely fickle, and that it is never safe to assume a maturing loan can be rolled over. Even if you are unleveraged, the leverage employed by others can drive dramatic price and valuation swings; sudden unavailability of leverage in the economy may trigger an economic downturn. + +Everyone takes debt at the moment. It is so cheap that many companies use debt to do buybacks or otherwise increase their price. Other people trade on margin and governments don't seem to care about debt. That can be highly dangerous. No one can control interests rates over the long run and bankruptcy is the most surefire way to delete any investment returns. Peter Lynch said: “If you have no debt it is very hard to go bankrupt”. While businesses with little or no debt might not rise to the same degree, they will reduce the chance of a wipeout significantly. + +&#x200B; + +>When a government official says a problem has been "contained," pay no attention. + +&#x200B; + +>The government – the ultimate short-term-oriented player – cannot withstand much pain in the economy or the financial markets. Bailouts and rescues are likely to occur, though not with sufficient predictability for investors to comfortably take advantage. The government will take enormous risks in such interventions, especially if the expenses can be conveniently deferred to the future. Some of the price-tag is in the form of back- stops and guarantees, whose cost is almost impossible to determine. + +We saw that in March the Fed stepped in and bailed out the market. A decrease in interest rates and intense money printing. However the question is: How long can it continue and what will happen to those expenses in the future? All action has consequences and we saw that some of them can end quite bad. + +Seth Klarman also added some false lessons, that are relevant without commentary. + +**False Lessons** + +1. There are no long-term lessons – ever. +2. Bad things happen, but really bad things do not. Do buy the dips, especially the lowest quality securities when they come under pressure, because declines will quickly be +3. There is no amount of bad news that the markets cannot see past. +4. If you’ve just stared into the abyss, quickly forget it: the lessons of history can only hold you back. +5. Excess capacity in people, machines, or property will be quickly absorbed. +6. Markets need not be in sync with one another. Simultaneously, the bond market can be priced for sustained tough times, the equity market for a strong recovery, and gold for high inflation. Such an apparent disconnect is indefinitely sustainable. +7. In a crisis, stocks of financial companies are great investments, because the tide is bound to turn. Massive losses on bad loans and soured investments are irrelevant to value; improving trends and future prospects are what matter, regardless of whether profits will have to be used to cover loan losses and equity shortfalls for years to come. +8. The government can reasonably rely on debt ratings when it forms programs to lend money to buyers of otherwise unattractive debt instruments. +9. The government can indefinitely control both short-term and long-term interest rates. +10. The government can always rescue the markets or interfere with contract law whenever it deems convenient with little or no apparent cost. (Investors believe this now and, worse still, the government believes it as well. We are probably doomed to a lasting legacy of government tampering with financial markets and the economy, which is likely to create the mother of all moral hazards. The government is blissfully unaware of the wisdom of Friedrich Hayek: “The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.”) + +&#x200B; + +Hope you enjoyed my little writeup. Feel free to post any questions! +So this is my rant, against the hundreds of youtubers feeding off monetized videos sharing half assed, poorly researched topics that gather attention of thousands of Indian viewers through clickbaits. I found this video ([https://www.youtube.com/watch?v=\_4eDD4TPtLA](https://www.youtube.com/watch?v=_4eDD4TPtLA)) where the woman talks about a fundamental analysis of RIL but proceeds to show off her ability to calculate EV/EBITDA after 23 painful minutes of her fast talking everything in bold from RIL's annual report. Its very easy to get rid of your money when investing but very difficult to get it back if you spend your time learning through these poorly researched videos. Many times, I have come across people jumping into the stock market armed with best recommendations of the day from some random whatsapp group/youtuber daily recommendation/twitter feed and then complaining that this is a gamble. Isn't there any rule preventing random people from giving investment advice to masses without any quality review ? +[original post](https://www.reddit.com/r/personalfinance/comments/4jyy8r/just_got_out_of_prison_and_owe_so_much_money/) + +It's been a year since I got out of prison and thought about updating for a few months but wanted everything to be absolutely settled before I did. I ended up moving to a more tech friendly city and the job search was still rough. I actually got a job offer 2 weeks after moving and was so excited to start. They asked about my background and I was totally honest with them. After some discussion, they still wanted to hire me but then a few days later I got a call saying HR wouldnt allow it. I was pretty beat up. Over the next few months I got a few interviews and even job offers but any time the background check came up I was denied. The only thing worse than not having a job is knowing you have the skills to get hired but something like this holds you back. Im not going to lie and say it was easy. I broke down some nights but picked myself back up the next day and put out my application again. I worked at a restaurant to make some kind of money and it was rough. I was coming home with $10 sometimes and wondered if this was really going to be my life. + +I continued to get calls from debt collectors but ignored them everytime. In the end of September I was having a particularly rough week making no money a work (serving tables) and had a job interview lined up. I didnt really have much hope for this job but figured screw it. Later that day they told me I had the job but at that point it didnt even bring me excitement as I've heard that line before. I did the usual background check and waited for the fatal call. A call came that Friday and was told I was to start on Wednesday of next week. I was confused and in disbelief. Everyday for a few weeks I expected someone to call me or pull me to the side work and tell me there's been a mistake. For the first three months I never even brung anything to put on my desk cause I figured it was any moment now. I worked there making more in one week sitting at a desk doing what I love to do than I was busting my butt for an entire month at a restaurant. + +Finally, one day in Janauary I was pulled to the side. The hiring manager asked me to see him in his office and he had a pretty serious look on his face. He sat me down and told me I've been doing very well these past couple of months. My supervisors are impressed with how fast I've caught on and they decided to give me promotion. I was blown away. So here I was, 4 months into a job and I was offered a promotion with a great raise. + +I still work hard everyday there. I study up and learn more and try to improve myself with programming everyday. I look back at those few months where I was job searching and know that I made it as far as I did because even on days I was so depressed I didnt even want to get out of bed, I still got up and tried. What else could I do? I still worry about the future but for now, I want to work here for a while getting as much experience and time behind me so my criminal history will pale in comparison to my skills and drive to succeed. Ive even managed to get a pretty good girlfriend who know all about my past and we've been dating for five months. She's supportive and is proud of how far I've gotten and how much I still do to make sure my past does not define me. I've helped a number of people start on their programming career and have even given presentations for new comers. Have I gotten some back lash? Yes, but screw those people. + +As for my loans, I've saved up an emergency fund for 6 months and as of 2 weeks ago, I paid the last bit I owe on my credit card. I still have a mountain of student debt but I pay it off bit by bit. I dont get anymore calls about money I owe and well, life is alright. I hope anyone who is in a similar situation as me can look at this and know, someone in the same boat as you has made it through and succeeded. + +--- + +TLDR; hard work and perseverance pays off. +The free banking systems of Canada and Scotland were renowned for their financial soundness and absence of large-scale bank crises as happened in the US or England. I understand to run a free-banking system you need commodity money, so we'd have to abandon the fiat system AND the central bank. + +How is central bank fiat money better than free banking commodity money practically? Is there any evdience or data to prefer the former over the latter? +Not including immigration as a way to fill gaps. Can economies still grow? Or do we have to plan for a world where economic growth isn't possible when fertility decreases begin to take hold? Is that even possible with the way our world works? +Hi guys! Recently my country is going to have election and it has sparked my interest in economics. I have a engineering in degree and I have zero idea about economics. + +How important is economics for an Engineer or a normal person? + +I'm very good with maths and I love analyzing numbers. Does it have any relation to economics? + +Any YouTube recommendation to learn about economics? +If you've paid any attention to the financial news over the last 2 years, you've seen the questions and critiques about Warren Buffett's cash position. In almost every interview he's asked why is he stacking cash or why Berkshire isn't outperforming the S&P 500. The majority of questions aren't as brazen, but rewatch some of his interviews and you'll see that 1 or 2 questions along those lines comes up. + +Take this article by CNBC from November of last year: + +*Being in the enviable position of having that much cash to spend seems unenviable at the moment, as far as Berkshire shareholders, and maybe even Buffett, are concerned. Buffett’s company is currently on pace for its worst annual stock performance since 2009.* + +*“He pinned himself into a corner a few years ago, saying I can’t have $150 billion in cash in three to four years and say that’s alright,” said Greggory Warren, a Morningstar analyst who covers Berkshire Hathaway.* + +*Underperformance versus the index, deals that have not worked out well, such as Kraft Heinz (thought it showed signs of life in its most recent earnings), and increasing willingness on Buffett’s part to consider share buybacks, all point to the the importance of moving that cash into investments that generate a return."* + +https://www.cnbc.com/2019/11/01/even-obvious-way-for-buffett-to-solve-big-cash-problem-is-a-puzzle.html + +I can spend all day finding each and every article from the past 2-3 years but you understand my point. + +As stocks soared to all time highs, people wondered just as they did during the tech boom whether Buffett had lost his touch. Now Buffett is sitting on a 125+ Billion dollar mountain of cash just biding his time. He's poised more favorably than he could ever ask for, and prices are just getting more reasonable by the day. + +TLDR: When you see Buffett stacking cash, he's not an idiot. He's waiting for prices to become reasonable again, which only happens after a significant market decline. + +I'm not saying he's an oracle, but he's rarely wrong. If history is any indicator, Berkshire is going to reap some mighty rewards. +They snuck this in under everyone's noses!!! IT'S APPROVED! + +Just waiting for confirmation for pubication in the Federal Register for passing & eventual enforcement!!! + + [https://www.dtcc.com/legal/sec-rule-filings](https://www.dtcc.com/legal/sec-rule-filings) + + [https://www.dtcc.com/-/media/Files/Downloads/legal/rule-filings/2021/DTC/SR-DTC-2021-005-Approval-Notice.pdf](https://www.dtcc.com/-/media/Files/Downloads/legal/rule-filings/2021/DTC/SR-DTC-2021-005-Approval-Notice.pdf) + +&#x200B; + +https://preview.redd.it/jyv2f7m4nd771.png?width=3844&format=png&auto=webp&s=aec6f688d3cefb9127ff7023c0b4f1eeac423a3b + +&#x200B; + +https://preview.redd.it/vu5fmq26nd771.png?width=3840&format=png&auto=webp&s=04ae835ca2d93ca0e0036ea344b9762c83d3e723 +Since 22 (currently 30), all I’ve ever wanted to do was FIRE by age 35 with 1M in liquid net worth. Always envisioned moving to some tropical paradise like Bali. At 30, currently have a liquid net worth of 521K and was on the way to hit 1M by 35. + +However, life threw me a curveball recently. The health of my parents rapidly declined and they are no longer able to support themselves financially completely without completely plundering their retirement accounts (which is already very modest). They never explicitly asked for help, but that’s because they never would. + +I recently moved back to my parent’s home at 30 to help them financially and took over the mortgage payments to start. My parents have 208K left on the mortgage - $2700 monthly payments and the loan is for 21 more years. Add in the rest of living expenses and my monthly take home pay is all but gone. + +There are two conflicting sides to me - brain and heart. One side that’s more logical says $2700/month invested at an average return of 7% over 21 years is 1.5M. The other side that’s more emotional says it’s your own mother and father...they sacrificed everything as first generation immigrants to provide you an opportunity at the American dream. For pretty much all of my big life decisions, the brain has won in the past. For this big life decision, the choice is easy. + +What is the purpose of money if you don’t use it to take care of or improve the lives of those you love? + +I don’t know why I feel compelled to share this here (probably because I have no one to talk to this about), but all I can say is life happens when you’re busy making other plans. And hug your parents and tell them you love them because they are only getting older. +I've blown up my account before and I promised myself that when I would trade again, I would need to be more disciplined and consistent with my original strategy. + +Since I found theta gang, I was doing quite well wheeling since November with decent return, especially with PLTR. I was very happy to see that my portfolio was consistently green, even on days with high volatility. However, I was tempted by the hype of GME and decided to throw all my gains + 20% of my portfolio on calls/stock when it was around the mid 300s. Needless to say, I exited today losing all my gains + a good percentage of my cost basis (mid-5 bagger). Yes I would be considered "paper hands" and yes I bought high, sold low. But the insanity of waking up every morning and being glued to my phone the entire day was such a mental burden. It affected my work performance, study habits and my general well-being. + +The enticement of 1000% returns and the constant banging of the short/gamma squeeze drum completely obscured the promise that I made to myself. + +So here I am, humbled once again, reminding folks that are tempted to deviate from their original plan, to be steadfast and patient. It's probably going to take a me a while to recover but this particular loss was much more visceral and a very expensive lesson to not get caught in the echo chamber that is WSB. I seemed to have forgotten that I was suppose to sell options to degenerates not join them. + +Anyway, love you theta gang. Always solid discussions and strategies here. + +Edit: Not 5 bagger, 20 bagger. My dumbass confused the bagger terminology for number of digits. +What’s with all these demo traders posting a shit tonne of how-to’s and guides on trading, even though they blew their last live account?! + +It’s cringey asf and it’s all recycled information. How about you take the advice yourself, get consistent results with low drawdown and then post, because then you’d have some credibility. + +Rant over haha +I don't know if this is the right place for this...I'm simply in pain for the sacrifices made and the lack recognition. + +My girlfriend works at a local hospital as a Rehabilitative nurse in the long term care wing. She has been employed at this facility for 5 years and has moved up in rank and pay due to tireless care and compassion for her residents. + +In May, the administration needed volunteers to work the Covid quarantine wing as they needed to separate the infected patients. This wing had 5-12 patients with one nurse to care for them all. +After discussing our fears and options for her to accept the role (and dangling bonuses and hazard pay in front of her) she took it with $1.50 extra per hour. For a total of $16.50 hr. + + +She worked the Covid unit for two months off and on as needed. As well as working other shifts. + +We have arrived at Xmas bonus time. Many CNA's work for agencies and float around to many employers, Brandie does not, she is an employee of the hospital. Word gets around that the secretaries, administrative employees found out their bonuses will be $750 due to the effort that these frontline heroes put forth in this unprecedented time. + +Brandie went to work on Friday anticipating the bonus letters for all employees on the floor. What she found was a release posted on a corkboard that in formed employees to choose from 2 options for their bonus: + +Option 1: A $20 gift card for a turkey + +Option 2: A T shirt with the hospital logo + +Brandie tested positive for Covid on Sun +I heard this line, “To reduce poverty by $1, it takes $111 of economic growth.” on a podcast that involves a debate of whether capitalism can remain in a system that is dedicated to avoiding climate catastrophe. The guy saying it claimed to be citing a study, but didn’t name it specifically, and I can’t find it. + +Whether it’s true or not, I don’t get what it means. How do you decrease poverty by a dollar amount? I can’t even think of a way to relate it to the global poverty line. Anyone have a clue? +My fiance and I were due to be married on Friday. She unexpectedly passed away this morning. I am signed up to start grief counseling and am doing my best with my loved ones to process this. I do want to be prepared for everything I need to take care of, and planning for this is helping distract me from this horrific event. + + She has over 2,000 in credit card debt, 20-30 thousand in student loans, and very little cash saved. She had a rare chronic illness that left her with some medical debt but I'm not sure quite how much. We are not legally married, bank accounts are separate, and have nothing except our lease and utilities in both our names. Am I responsible for any of this? I didn't think debt transferred, especially to non legally married couples. Are people going to try and call and guilt me into accepting her debt? We have 7 months left on our lease, am I able to break it? I could afford it but it would be tight and I have no desire to stay in the place where her final moments were. + +What do I need to do going forward? I know I need a death certificate. I've notified her work and doctors associated with her disease study. How do I go about cancelling all of the things in her name (phone plan, etc.) Is there a one size fits all thing I can do to just get it all taken care of at once? Her funeral is being handled mostly by her parents and grandmother, we are going to finish details later. + +Thanks in advance to anyone that helps. This is all so unexpected and I feel destroyed emotionally, the stress from all of these questions multiplies that grief and it will be good to have a plan ready for when I'm ready to tackle everything. +I sold my last company about 5 years ago and took on a consulting gig for the past 4 years. I did well at the consulting gig in 2019 and 2021, but 2022 has been rough, with my income barely exceeding my ~$250k year expenses for a mid 30's individual married with 3 boys (12, 8, and 5). 2023 will probably be rough again as well if my assumption about a recession is accurate, given my industry. + +From March 2020 COVID lows of ~$2 million, I hit a peak net worth of $10.5 million in November 2021 and steadily lost about $6 million over the last 12 months. I am now down to a net worth of $4.5 million (1/3 of my net worth is in a pre-tax retirement account). The source of the decline has mostly just been holding assets that have gone down in value, e.g., tech stocks like TSLA, AMZN, MSFT, META, etc., and crypto. In hindsight, I got lucky that the assets I happened to own did well, but I did not sell anything at the top or near the top, and now I have assets that are down anywhere from 35% - 75% from their peak. Dumb, yes I know. + +Throughout this year, I have incorrectly assumed that inflation is transitory, that the Fed would stop raising rates at some point, and that the market would recover. I have been wrong every single month, and I have another chance to be wrong on Thursday with the next CPI release. The challenge I face now is whether I finally accept the mistake I made, sell into some other lower-risk assets, or even just move to cash and then figure out my next plan. + +When I ask myself if I had this money as cash in my hands right now, would I buy the same assets I have right now, my answer is, for the most part, yes at these prices (maybe I'm a moron). The only thing I'd change is maybe selling 10% - 20%, so I had $300k - $600k in cash on hand. + +For anyone else that has had large gains from a concentrated position and then suffered a large drawdown, what did you do? How did you handle the mental anguish of letting such a life-changing amount of money slip through your fingers? Nearly every day, I think about how I should have sold last year, and it's clearly not healthy for my mind, but I can't stop fixating on how much of a mistake I made. I really can't believe it's been a year since the peak. + +If anyone has any advice that would be great. I feel really burned out and can't really see starting another company right now, and so for now, I'm still just going to do the consulting gig, but I hate it, and again, in hindsight, if I had sold, I probably had enough money not necessarily to retire but maybe to get pretty close and at the very least to quit this job. Now that door is closed, which makes me feel worse. After writing this entire thread and re-reading it perhaps I need some sort of therapist for morons but I'll just post it anyway. If you're just going to say I'm an idiot, that's fine, go ahead. It's certainly something I've thought every day for most of this year. + +Does anyone have any advice? +40% in B. Riley Financial (RILY): P/E of 3.7, ROE over 100%, EPS growing over 50% annually since reverse merger/IPO + + +30% in LGI Homes (LGIH): P/E of 13, ROE over 30%, EPS growing over 40% annually since IPO, I forsee a housing boom in the 2020's due to supply and demand dynamics but stock is still cheaply priced even if that does not occur + + +30% in Nexstar Media Group (NXST): P/E of 8, ROE over 30%, EPS growing over 40% annually since end of 2012, actually benefits from cord cutting/streaming (due to retransmission fees) despite market's perceptions +If you think of the whole world as a box, any new business is basically taking away business from other businesses or consumers are spending more. The total sum stays the same. The only way new wealth enters the system is when dollars get printed. Is my mental model correct? Or am I misinterpreting the definition of wealth? +As per title. +Bit of a fun post. + +What brought this to mind is I got a haircut and commented how cheap the prices were. Owner told me she hasn't raised her prices in 17 years since opening as she doesn't want to pay more tax (this is a solo person operation, ie not making huge $$$). I nodded and smiled politely but thought "avoiding paying tax is the stupidest reason to turn down income". + +What grinds your gears? +For example maybe you just bought SPY every month and reinvested, or maybe you held certain stock like T or KO for decades and watched it grow over time and you grew up. +Monday open: **175.85** + +Friday close: **222.00** + +We have climbed 46.15 points this week alone. We are jacking some tig ol' bitties here + +Crayon is chopped and bagged, tits fully jacked, beer cracked, BBQ ready. We are here to stay. We ain't leaving. This is the start. + +Keep up the good work team 🚀🚀🚀🚀🚀🚀🚀🚀 +Already posted this in another subreddit so I'm looking for your best ideas to profit from my thesis, assuming it comes true. I'm already long Natural Gas. + +Natural Gas is used for manufacturing nitrogen, which is used for fertilizer, and given the reduction in CapEx in the oil & gas industries over the past decade and push for Green Energy, I think we're going to have a shortage of it in the coming months. Farmers will struggle to get fertilizers and yields will decline. + +Fertilizer and food prices will go up. China has already curbed the export of phosphate (somehow this has barely made the news given the HUGE implications this could have) and I predict the problems are going to get worse as the months go by. + +Crude oil is going to anywhere b/w $130-$150 per barrel and Nat Gas can easily double from current levels too in the coming years. The push for green energy and has sucked hundreds of billions out of energy CapEx and government's ESG regulations are stopping new money from coming into the industry and increase the supply. + +Crude didn't rise in the last decade primarily due to the deflationary force of shale oil. Shale oil was driven by the Federal Reserve's QE making investors yield hungry and investing in high risk ventures they otherwise wouldn't have (like shale oil). That's primarily why we have had so many loss-making Zombie companies over the years. + +However, with the pandemic crushing shale oil, the flow of money has stopped. And shale oil fields don't last as long as conventional oil fields either. So this deflationary force is going to weaken considerably. + +Same for Nat Gas. I think the price can double in the years to come, especially with winters getting chillier in the West. This phenomenon is expected to persist in the coming years due to grand solar minimum. + +I realize supply side issues don't usually last long as the increase in profit incentivizes new players to enter the market and increase supply. However, this time it can be different due to govt and ruling class elites worldwide, from Price Harry to Bill Gates to Jeff Bezos, pushing for action against climate change while travelling in private planes themselves. +I always see people refer to SCHD as the golden egg for dividends yield. +Everyone here invest in SCHD. +Yes, even you (probably). +Many people tend to compare other ETF's to SCHD performances. + +But why? +I understand it's a great fund. +I understand it gives good dividend yield +I also understand it had a solid growth record. + +Yet, it's not the only worthy ETF out there. +There are so many others. + +So why SCHD became the facto for dividends yield? +It's almost feel like a meme at this point. + +I also see folks who put all their savings into SCHD. +Aren't you scared to put everything in one ETF? That sounds super risky. +In 2020, just at the start of Covid 19 Pandemic in the US, numerous members of the Senate sold / bought stocks using the knowledge given to them at a closed Senate meeting which was not yet available to the public. + +Millions of dollars of stock were sold and purchased. + +> Senator Kelly Loeffler and her husband Jeffrey Sprecher, the chairman of the New York Stock Exchange, made twenty-seven transactions to sell stock worth between $1,275,000 and $3,100,000 and two transactions to buy stock in Citrix Systems which saw an increase following the correction. + +> Senator David Perdue made a series of 112 transactions with stocks sold for around $825,000 and bought stocks worth $1.8 million. Perdue started buying around $185,000 in stock in DuPont, a company that makes personal protective equipment, on the same day as the Senate briefing up to March 2. + +> John Hoeven of North Dakota purchased $250,000 in health science companies in January, five days after attending a briefing about the pandemic. + +> On February 7, Senator Burr, the Chair of the Senate Intelligence Committee, stated in an open-editorial on how the government could respond to coronavirus that "Luckily, we have a framework in place that has put us in a better position than any other country to respond to a public health threat, like the coronavirus," However, on February 13, he and his wife sold between $628,000 and $1.7 million worth of stock through thirty-three transactions and on February 27, Burr stated that "There's one thing that I can tell you about this: It is much more aggressive in its transmission than anything that we have seen in recent history," at a Capitol Hill Club luncheon and his statement was later leaked in a secret recording. + +> On March 19, ProPublica published an article showing that Burr had sold stock shortly before the correction and Loeffler, Jim Inhofe, and Dianne Feinstein's stock selling was also reported. NPR asked Caitlin Carroll, Burr's spokesperson, for a comment on the alleged violations and she responded with "lol" and then clarified that "As the situation continues to evolve daily, he has been deeply concerned by the steep and sudden toll this pandemic is taking on our economy." + +After all this do you know what happened to these politicians? + +Absolutely Nothing. + +> No charges brought against participants and all investigations into senators closed. + +This is a fu*king disgrace! + +Crypto is about giving an equal playing field to us regular citizens. It’s about stopping corrupt people and their corrupt money. +Wow, 100,000 is a big milestone. For reference, [we passed 10k](https://www.reddit.com/r/ethtrader/comments/5tlyqd/rethtrader_reaches_over_10k_subscribers/) only 8 months ago on February 12. At that time the price of ETH had been fluctuating around $10-11 for a number of months, we hadn't seen an all time high for **about a year**, and would only begin an epic climb a month later. + +-- +-- + +What I like about this community: + +- **Pro-Ethereum** - Ethereum is revolutionising how the world transacts in the same way that the web revolutionised publishing. I think most here take it as almost a default position that Ethereum is currently the best tech (and community), by far, to enable the world to benefit from blockchain technology. That said we remain open to discussion of other approaches, because ultimately getting there is what's important, and the strongest network and tech will be the one that learns and adapts. +- **Pro-investor** - There is a now a wide breadth of opportunity in which to invest within the Ethereum ecosystem and I think EthTrader has filled a role to mitigate some of the dangers by exposing scams, and demanding improved ICO processes. +- **Sense of humour** - Personally I like that this community also does not take itself too seriously and appreciates the odd meme. + +-- +-- + +The future of r/EthTrader will see more integration with Ethereum itself, leveraging it for governance, rewards, pro-investor schemes like gamified ICO reviews, and much more. Anyone who has contributed to any of the top 4 Ethereum subreddits is invited to [participate in this](https://www.reddit.com/r/ethtrader/comments/7a33tw/update_ethtrader_dao_token_preregistration/). + +Thanks for the insights. Thanks for the jokes. And thank you, fellow moderators, for all your help. +Source: https://www.businessinsider.com/wall-street-wonders-how-tesla-will-pay-off-over-1b-in-debt-coming-due-2018-10 + +Money is tight and Tesla has some bills coming due: + +> In November the company needs to shell out $230 million for a convertible bond payment. And by the end of the year, it needs to have an additional $920 million in the bank to pay a loan due in March. It also has a small $157 million non-recourse loan due in December. +Perhaps it's just me, but I've been noticing a lot of comments and posts lately from people who really don't get what FI/RE is, or what it's supposed to be about. Maybe we've just got an influx of new users or something, but I wanted to make a post to clear a few things up. + +* First of all, FIRE **is not** limited to just the [MMM](https://www.mrmoneymustache.com/)/[ERE](https://www.amazon.com/Early-Retirement-Extreme-Philosophical-Independence/dp/145360121X) style, lean FIRE approach. Yes, getting super frugal and saving 75% of your take home so you can retire before 30 is **one** way to achieve FIRE. But it is not the only way. There are plenty of other approaches to this and plenty of reasons for why some people favor those approaches. + +* Second, FIRE **is not** limited to just people who retire before 30/35/40 or whatever imaginary cutoff you have in your head. I legitimately saw someone ask the other day if 55 was really "early" retirement. **Yes**, it emphatically is. An extra decade of your life outside of the workforce is *nothing* to scoff at. But really, FIRE isn't even limited to people who are retiring early. It's right there in the name "*Financial Independence* / Early Retirement". There are plenty of people in here who are doing this for reasons that have nothing to do with leaving the workforce before 65. + +* Third, FIRE **does not mean** you can't have [insert your preferred hobby/luxury/indulgence here]. I like the way Paula Pant phrases it. You can afford *anything*, you just can't afford *everything*. A lot of FIRE involves making decisions about what *your* priorities are. For some people that's just time to sit and read. For others it might be restoring luxury automobiles. And if you're the person in the latter position, that doesn't mean you can't still pursue FIRE. It just means you have make the choices about just how much of a priority it is and what you're willing to give up for it. + +So, those are a few things that FIRE is not. If you're still confused about it, I would encourage you to take a look at the sidebar and read up on some of the resources there. But I would add one more thing to what you'll find in the sidebar: + +* FIRE **is** personal. It's about pursuing *your* goals and *your* priorities. Not Mr Money Mustache's, or Jacob Lund Fiskar's, or (FIREguy8452 25m | 73% SR | 4.5% FI)'s. Yours. So don't get too caught up in seeing a lot of people talking about how you're "supposed" to approach FIRE. Their road to achieving their goals is not yours, and vice versa. + +Editing to add one because even though nobody's stated it explicitly, I seem to be seeing a lot of responses that assume it: + +* FIRE **does not** require that you make a 6 figure income. One of the casualties of the focus on super high savings rates and super short timelines is that it *really* discourages people with low, or even average, incomes from trying to pursue this lifestyle. Plenty of people come around here asking (or maybe not asking, maybe just lurking and wondering to themselves) "ok, I like the sound of this but how do I make it work on $40k a year", only to be met by a chorus of "you're not 'real FIRE' unless you're saving [percentage that would put their expenses below the poverty line]". When in reality they could still make a real impact on their life with a more modest (and yet still several times larger than the national average) savings rate. Ostracizing and excluding these people helps nobody. Not only are they worse off because they didn't get the help they were looking for. But *we* are worse off for losing their perspective too. I can practically guarantee you can learn more from someone making a 15-20%SR work on a teachers' salary than you can from someone making a 70%SR work on a programmer's salary. + +So, in the past few months, whenever a new ATH was reached I used to get reminded of this post: + +[https://www.reddit.com/r/IndiaInvestments/comments/k9yprf/are\_you\_guys\_booked\_profits\_in\_this\_all\_time\_high/](https://www.reddit.com/r/IndiaInvestments/comments/k9yprf/are_you_guys_booked_profits_in_this_all_time_high/) + +&#x200B; + +TL,DR: In Dec 2020, They(the OP of the linked post) felt that markets were overvalued at Nifty around 13000 and were confident that they can buy at Nifty 12500 levels again. Guess what, we are at Nifty 17000+ today. + +&#x200B; + +Further, there was another assertion that the "market-mood-indicator" will show extreme fear (<20) and they will enter again at that time. To cross check, I downloaded the market-mood-indicator(MMI) history XLS and guess what, it did go below 20 in March 2020. But Nifty was already at 14000+ when MMI was <20. + +&#x200B; + +So, what is the takeaway? I will keep my SIPs running. My monthly investment is around 1% of my total portfolio value, so I reckon that stopping a SIP and waiting for a correction is actually not worth the effort I need to put in (i.e. mental effort needed to decide if \*\*this\*\* is the right time to start my SIPs). In any case, I feel that any crash does get recovered in a few months, at worst a couple of years. So, since the money I am investing today is needed for goals which are farther away ( > 10 years) , it doesn't make sense to stop the SIPs now. What does the community feel ? +BA in a fight for survival, no airlines in the market for a Boeing's huge stockpile of planes, Lufthansa already applied for state aid. + +Don't be fooled by this dead cat bounce, significant recession oncoming. + +The cash I have is remaining just that for the foreseeable. + +Stocks trading at just 10 times earnings in Singapore, we're not there yet but that's probably where we're heading. + +Those patient with cash reserves hold the cards. +We’ve registered 12.7 million shares. At the current price of $121, that’s over $1,500,000,000 (1.5 billion). + + +Retail is THE whale. Everyone else is just a minnow. We own more of this company than any other single entity. We’re not selling. We’re not leaving. We will win. +Before I got a comfortable salary and savings, I was obsessed with getting the latest handbag and fancy jeans. +Now that I’m not worried about money anymore, I just go for practicality, fit and comfort. + +3 pack tshirts from Gap with soft cotton?! +Yes. +Maybe some expensive but zero logos shoes? Big yes. + +Somehow I’m just put off by anything flashy. Plus in the current economy, better to appear poorer I think. + +Healthy and fit body, clear skin, good hygiene and grooming - show more wealth than branded fashion. + +Wondering if anyone else feels like they’re over luxury shopping ?! I even find myself judging others for showing off somehow, not ideal but being honest +Hello folks, today was pretty fun, as it was my first full month of getting all dividend payments for my portfolio in a single month. I am currently on average to make $15.75/monthly from my monthly payers. + +My goal is to get my portfolio to $100/mo for dividend payers and then transition new capital to growth and continue to use the dividend income add to or build out small dividend positions. + +I track everything in a spreadsheet and determine minimum investment amounts to make $10/mo per position (at least that is my goal.) I have 6 dividend payers, but only 1 of them is over the $10/mo target right now. + +It's pretty fun, I don't obviously have a lot invested, nor do I invest more than a few hundred a month, but I do feel like I am on my way and I have a strategy in place. + +I'd be interested to hear your strategy? How are you using your dividends? +The increasingly-depraved debuts of Oreos with more stuffing indicate unstable amounts of greed and leverage in the system, serving as an immediate indicator of that the makings of a market crash are in place. Conversely, when the Oreo team reduces the amount of icing in their treats, markets tend to have great bull runs until once again society demands to push the boundaries of how much stuffing is possible. + +https://en.wikipedia.org/wiki/List_of_Oreo_varieties https://en.wikipedia.org/wiki/List_of_stock_market_crashes_and_bear_markets + +1974: Double Stuf Oreo released. Dow Jones crashes 45%. FTSE drops 73%. + +1987: Big Stuf Oreo released. Black Monday, a 20% single-day crash and a following bear market. + +1991: Mini Oreo introduced. Smaller icing ratios coincide with the 1991 Japanese asset price bubble, confirming the correlation works both ways and a reduction of Oreo icing may be a potential solution to preventing a future crash. + +2011: Triple Double Oreo introduced. S&P drops 21% in a 5-month bear market + +2015: Oreo Thins introduced. A complete lack of icing causes an unprecedented bull run in the S&P for years + +2019: The Most Stuf Oreo briefly introduced. Pulled off the shelf before any major market damage could occur. + +2021: The Most Stuf Oreo reintroduced. Market response: ??? +I saw u/ezrabetterdead's post yesterday regarding the RK spreadsheet project but there hasn't seemed to be any follow up on the sub being private. I created r/stocksheets to try and get the project going. I don't want to step on the toes of OP if they want to manage this project, but I saw a fair number of people eager join the effort and OP seemed to go dark. + +I have watch the RK tools videos several times and know that in order to get data into the sheets he is using a combination of Quandl for the integration point with Sharadar for the data feed. If OP wants to take over the sub I made I'm happy to hand it over but I want to at least have a place to gather some initial ideas on the sheet and the best way to go about collaborating on a project like this. +I saw u/ezrabetterdead's post yesterday regarding the RK spreadsheet project but there hasn't seemed to be any follow up on the sub being private. I created r/stocksheets to try and get the project going. I don't want to step on the toes of OP if they want to manage this project, but I saw a fair number of people eager join the effort and OP seemed to go dark. + +I have watch the RK tools videos several times and know that in order to get data into the sheets he is using a combination of Quandl for the integration point with Sharadar for the data feed. If OP wants to take over the sub I made I'm happy to hand it over but I want to at least have a place to gather some initial ideas on the sheet and the best way to go about collaborating on a project like this. +I've read almost all of the books on the /r/economics reading list (64 of 70). I've also read and studied Mankiw's Principles of Economics. Compared to a reasonably smart and accomplished undergrad at a state school, how much do I know and have yet to learn at the undergrad level? + +I ask because in the long run, I'm interested in maybe getting a masters or maybe even pursuing a doctorate (if I can get into a top 40 school) in Economics. +The market cap of all these airlines is less than the purposed 58 billion bailout. Why doesn't the government just buy all the shares and then own the airlines? +&#x200B; + +[Euro\/Usd 5min backtest result: ](https://preview.redd.it/a7rvzymrk9991.png?width=1366&format=png&auto=webp&s=e7effee84e0edff6e95d4d8f83a3ee16818b4411) + +Settings used: 15 point take profit, no stop loss, 0.9 sensitivity + +I can find similar results on usd/jpy + +What do you guys think of it? + +Code: + +&#x200B; + +\`\`\`// This source code is subject to the terms of the Mozilla Public License 2.0 at [https://mozilla.org/MPL/2.0/](https://mozilla.org/MPL/2.0/) + +// © RyoAsukae + +//@version=5 + +strategy(title = "Regression-Strat", shorttitle="Reg-Strat", overlay=true,initial\_capital = 1000, default\_qty\_value = 100, default\_qty\_type = strategy.percent\_of\_equity) + +src = close + +l1 = 25 + +l2 = 200 + +l3 = 600 + +lin1 = ta.linreg(close,l1,0) + +lin2 = ta.linreg(close,l2,0) + +lin3 = ta.linreg(close,l3,0) + +slope1 = (lin1 - lin1\[l1\])/l1 + +slope2 = (lin2 - lin2\[l2\])/l2 + +slope3 = (lin3 - lin3\[l3\])/l3 + +above = ta.crossover(close,lin1) and slope2 > 0 and slope2 > slope3 or ta.crossover(0,slope2) + +below = ta.crossover(lin1,close) and slope2 < 0 and slope2 < slope3 or ta.crossover(slope2,0) + +&#x200B; + +trueRange = na(high\[1\])? high-low : math.max(math.max(high - low, math.abs(high - close\[1\])), math.abs(low - close\[1\])) + +sensitivity = input(1.0,"Sensitivity") + +atr = trueRange/sensitivity + +short = below and ta.atr(10) >= atr + +long = above and ta.atr(10) >= atr + +p = input(50,"TP") + +l = input(50,"SL") + +Y = input(2021,"Year") + +M = input(1,"Month") + +D = input(1,"Day") + +date = time >= timestamp(syminfo.timezone,Y,M,D,0,0) + +strategy.entry("long",strategy.long, when = long and date) + +strategy.exit("exit","long",loss = l,profit = p) + +strategy.entry("short",strategy.short, when = short and date) + +strategy.exit("exit","short",loss = l,profit = p) \`\`\` +Here is mine? + +My daughter misplaced a $10 gift card and it made me start to think about some of the dumbest lost money moment of my life. Besides investments that didn’t work out. I thought about a time at work when I was asked to fly across the country to present to another team and as a token of appreciation the local manager gave me a $1000 Visa gift card. I put it in my wallet only to forget about it. I went to use it a few years later only to discover that it expired. On top of that or course the $1000 was added to my paystub for taxes. So lost the 1k and paid out of pocket for it as well. Dumb move. What is yours? +My wifes family has been poor all her life. Like really poor. But it wasn't always that way. Her great grandmother was a very well to do socialite who hung with families like the Kennedys. Her first husband died, and she remarried to a much younger man. The family had a large ranch and all the coinciding mineral rights in Texas along with liquid assets. Well, she died "without a will" and he got everything. He kicked the family off the ranch and sold it, keeping the money. + + My wifes dad, whose grandmother originally owned the ranch, was in prison, and gramps cut ties with my wife and her mom, to the point of telling the family, including her dad who she lost contact with, that my wife was dead. Well, my wifes dad died in prison (thinking my wife was dead), and all of the sudden he had my wifes phone number and knew how to get ahold of her. At this point he was well into his 80s, and living in a huge mansion (to give it prospective, it had an actual cave for a wine cellar, and he spent $150,000 on putting paths on the property using antique, slave made bricks). He had been letting my wifes aunt live in a falling down shack eating cat food. + +Well, about a year later he was dying, and asked my wife to come visit him. It was at this point he told her that her great grandma had had a will and the ranch was supposed to stay in her family, but he had hid the will and kept everything. To "make up for it" he willed ny wife $10,000. To put this in prospective, he gave several hundred thousand dollars to area churches, confederate graveyards, and friends. He gave the rest to his family, including family heirlooms that weren't even a part of their family. We had no way of proving anything. +I have a tenant who moved in 3 years ago to a quadraplex and since has been fighting with the other tenants. The other 3 tenants have been there 5 years. + +Yesterday he got into a physical fight with one tenant and then called the police on them and said he's going to file a restraining order so he's hoping they move out. Is there a way I can evict the tenant who is filing the restraining order? Before him, there were no problems. He even fights with my maintenance guys too. + +Anyone know what I should do legally? I'm in CA. +Welcome to the Daily General Discussion thread of /r/EthTrader. + +*** + +Thread guidelines: + +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All [sub rules](https://www.reddit.com/r/ethtrader/about/rules/) apply here so please be familiar with them. + +*** + + Resources and other information: + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! + +So after months of searching, comparing and finally deciding I finally went in on a new car. It was a 2022 Hyundai Elantra, I slapped a deposit down and after over a month of waiting out finally arrived Saturday when I purchased her she only had 14 miles on the odometer. I took her home and parked her in my driveway, this afternoon I called up the insurance company and had her insured. Then while driving 5 miles to drop my wife off at her father's house to set up for an Easter dinner some kid was not paying attention (texting) and drove right into the back of me. He was accelerating downhill and struck my stationary car without every having breaked, he hit me hard enough to push into the other stationary car in front of me. + + My wife and I were both banged up but the x-rays showed nothing's broken just a lot of inflammation. I can barely move my left arm or turn my head, my wife's back is hurting her severely. We just got home from the hospital and I'm sitting here just trying to process. + +This car had less than 200 miles on the odometer, I haven't even payed the taxes on it yet. The police took all of our info, placed fault on the driver who hit me, but didn't issue him a ticket. I just don't know what do to, I have been in touch with my insurance and his insurance, waiting to hear back from his adjuster tomorrow. Can anyone here please advise me on what I can do? I need help. If there's a better place to post, just let me know and I'll move this post. + +Edit: Thank you everyone for your advice, I'll be contacting my lawyer when the office opens! + +Edit 2: It's the next day, I woke up and my left arm is still screwy there's a sharp pain there, the neck and upper back pain is present as well and in the night I guess my right hand got inflamed because I can't close it all the way, or open it without pain. My wife is complaining that her neck is what's bothering her the most. + +Edit 3: I'm amazed by how much everything hurts and how there seems to be no rhyme or reason for most of it. My left shoulder, my left tricep, my left thumb and index finger are numb, my right hand won't close, my neck and back are expected, but my left foot has two toes with bruising, my entire chest, I've been nauseated as well. There's just random jolts and pain everywhere. This sucks on a couple different levels. +Good morning San Diago, + +I am Rensole, + +Do you smell that? + +\*insert flashy intro card\* + +&#x200B; + +https://preview.redd.it/64mg5duhsou61.png?width=680&format=png&auto=webp&s=4bb5ad1ada26c307f30c9f50a40cc2f4a0fb7bac + +# They are using trucks now! + +So yesterday I saw this was getting a lot of traction: + +[https://www.reddit.com/r/GME/comments/mvmtpy/looks\_like\_shitadel\_is\_hard\_at\_work/](https://www.reddit.com/r/GME/comments/mvmtpy/looks_like_shitadel_is_hard_at_work/) + +OMG NOES. + +Seriously guys relax, this is normal. + +In Europe you have to dispose of materials which have confidential information (client's names, addresses and or other stuff), then you need to shred it and dispose of it with a correct method and show this to the oversight committee that you disposed of it properly, you can't just throw it in a dumpster and be done with it. + +As an example, in the EU you need to keep your (accounting) books for 5 years minimum, then after that you need to dispose of it, so you call a professional company to dispose of it. + +Even though we would all love this to be proof of illegal activity, it's not it's more "business as usual then anything else. + +gdpr + +&#x200B; + +https://preview.redd.it/w16tgyaktou61.jpg?width=640&format=pjpg&auto=webp&s=b2659c1c370c751f8b1cc9c74b66ac8143c1076f + +# Some things about the sub + +I've seen a continuing trend emerge, people wanting to get the drones up and check what they're doing 24/7, cherry-picking data etc. + +Drones; + +As for the drones I'll be easy, you want to take pictures from street level because you notice something fine be my guest, but flying a drone and shoot video inside offices its where we have to draw a line. Because you may believe this is innocent but I think it's (at minimum) ethically questioning. + +So from now on, you post a drone video you will receive a temp ban, continued breaking will result in perma ban. + +&#x200B; + +Also something else that's REALLY bad imo is this: + +[https://www.reddit.com/r/GME/comments/mi8yi7/everything\_short\_author\_uatobitt\_explains\_how\_the/](https://www.reddit.com/r/GME/comments/mi8yi7/everything_short_author_uatobitt_explains_how_the/) + +Shit like this wont be allowed here anymore either, like holy shit do you guys really not see how this comes across ? the weapons aimed at his head is a step to far, honestly it's 10 steps to far, imagine people from the outside seeing this and it's easy to write this entire sub off. + +Because putting guns to peoples heads (even in drawings) can be seen as death threats, and that is NOT what this is about WE are all here because WE LIKE THE STOCK. + +Meming is one thing but this goes to far imo, if we want to be taken seriously we should act as a serious sub. + +&#x200B; + +Cherry picking; + +something I have a huge personal problem with is looking at an entire datasheet and people take only parts of it to build their thesis. You either use it in full or you don't use it, it's like saying all cars have 700 HP because I only used supercars in my control group, it just does not work. + +&#x200B; + +We have fought against other people thinking we are idiots, or a cult or whatever, the only way we can break those ideas and get taken seriously, is that we act as serious as normal investors. sure you can have memes you can have a laugh but realise that we want to be taken seriously we need to act accordingly. + +So let's go and keep the tinfoil hatting at a minimum from now on, and start doing serious thought out DD. there is a reason WSB lived as long as it does so let's drop the tinfoil and research more. I hope you guys can agree with that. + +&#x200B; + +Other subs; + +A lot of (new) posters are trying to stir shit up, saying other people are shills at the drop of a hat, same goes for other subs so let me be extremely clear about this. + +We like the other subs, I like WSB/GME/DDintoGME etc, you may not agree with how they run their subs and that's a personal thing, but do note that if we see hurtful comments made against other subs/mods of those subs we will take action, as we are one community and we should not allow shit flinging. + +Again if you have an issue, lets deal with it as adults, no emotion but facts. + +https://preview.redd.it/5ua5rv2dwou61.png?width=486&format=png&auto=webp&s=8276fd25382d034696db4aa59f58eb5ca025d967 + +# The man with the plan + +The US Senate Confirms Gensler as the SEC Chief to a full five year term + +[https://thehill.com/policy/finance/549312-senate-confirms-sec-chief-gensler-to-full-five-year-term](https://thehill.com/policy/finance/549312-senate-confirms-sec-chief-gensler-to-full-five-year-term) + +Glad to hear he's got the full 5 year appointment as imo wall street is a big machine with big parts who don't want to move or change, but giving him another 5 years means he can at least get some things moving and hopefully change it for the better. + +And by the looks of it it seems he hit the ground running + +&#x200B; + +https://preview.redd.it/2vuqznhpwou61.png?width=960&format=png&auto=webp&s=e8567d3bd69546cd64b3c48ebc038f644313dae0 + +The Sec said to examine fund disclosure rules after archegos, taken from bloomberg tv breaking news. + +&#x200B; + +https://preview.redd.it/8ufz7mbhwou61.png?width=640&format=png&auto=webp&s=7ea8d8ad7060a2deea1466b1a50ca11b93681cf3 + +Gamestop has announced another Amazon veteran to head the fulfillment stuff, glad to have you onboard Josh! + +&#x200B; + +# DTC-2021-007 + +[https://www.reddit.com/r/Superstonk/comments/mvh4yy/dtc2021007\_signed\_april\_20\_2021\_is\_forcing\_all/?utm\_source=share&utm\_medium=ios\_app&utm\_name=iossmf](https://www.reddit.com/r/Superstonk/comments/mvh4yy/dtc2021007_signed_april_20_2021_is_forcing_all/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) + +Great write up on what the DTC 007 rule could mean. it would be effective on July 9th. + +&#x200B; + +# DTCC-2021-005 + +Now this is a little bit of a hot topic, the rule was suddenly removed on the 12th this month, I remember someone contacting someone up high about this, the rule was removed due to a "filing" error, there was something wrong with how the document was set up, but it should get back on the website soon, that has now been close to two weeks. + +Now I'm addressing it because I've seen a lot of people post about it (or it just caught my eye more), it could very well be that it was a clerical error and it needs to be readded so we just have to wait and see. + +&#x200B; + +https://preview.redd.it/edh721j5you61.png?width=554&format=png&auto=webp&s=76f774cc7916dfb1e1fabf0fd247b97c322f1809 + +# EXCELLENT! + +Be friendly, help others! + +as always we are here from all different walks of life and all different countries. + +This doesn't matter as we are all apes in here, and apes are friends. + +Doesn't matter if you're a silverback a chimp or a bonobo. + +We help each other, we care for each other. + +**Ape don't fight ape, apes help other apes** + +this helps us weed out the shills really fast, as if everyone is helpful, the ones who aren't stand out. + +remember the fundamentals of this company are great, so for the love of god if someone starts with trying to spread FUD, remind yourself of the fundamentals. + +There is no sense of urgency, this will come when it comes, be a week, be it a month be it six. + +We don't care, just be nice and lets make this community as Excellent as we can! + +Remember one of the only ways to counter the Cointelpro we have seen is by being overly nice, so treat all the other apes as if you're dating and you wanna get to first base. + +&#x200B; + +&#x200B; + +https://preview.redd.it/ixd03zqazou61.png?width=400&format=png&auto=webp&s=43ad3e551f20976aa3a1ca1c255206b3e8c68e82 + +Remember none of this is financial advice, I'm so retarded I'm not allowed to go to the zoo 'cause they'll put me in the cage with the rest of my ape brothers. + +If anything happens throughout the day I will be adding it here. + +backups: + +[https://gmebackup.tumblr.com/](https://gmebackup.tumblr.com/) + +[https://twitter.com/rensole](https://twitter.com/rensole) + +[https://twitter.com/HeyItsPixel1](https://twitter.com/HeyItsPixel1) + +[https://twitter.com/warden\_elite](https://twitter.com/warden_elite) + +[https://twitter.com/RedChessQueen99](https://twitter.com/RedChessQueen99) + +[https://twitter.com/PinkCatsOnAcid](https://twitter.com/PinkCatsOnAcid) + +And I'll be posting updates as they happen here: + +&#x200B; + +Edit: + +## 15c3-3 + +As of April 22, 2021, broker-dealers will be required to bring themselves into compliance margin requirements. Rule 15C3-3 established the requirement to keep enough cash and securities in a segregated account that will cover a portion of the costs of a major market move. This one goes into effect as of today + +[https://www.sec.gov/news/public-statement/staff-fully-paid-lending](https://www.sec.gov/news/public-statement/staff-fully-paid-lending) + +[https://www.sec.gov/divisions/marketreg/mr-noaction/2020/finra-fpl-20201022-15c3-3.pdf](https://www.sec.gov/divisions/marketreg/mr-noaction/2020/finra-fpl-20201022-15c3-3.pdf) + +[https://www.law.cornell.edu/cfr/text/17/240.15c3-3](https://www.law.cornell.edu/cfr/text/17/240.15c3-3) +Hi all, + +Just wondering what folks think. If a sector's wages increase, either the price of that good will increase or that sector will consolidate to the lowest producer (either local or global). Furthermore, if that sector's goods diversify/feed into other sectors, those other sectors feel the ripple effect or need to find substitutes. + +Once a wage increases, it is extremely hard to decrease it. + +Thanks all +So, first off, you might be wondering, why sell now? "This cycle still has months to go! ETH will hit $10k! BTC will hit $100k" - well, maybe you're right (now that I've sold, you're probably right!), I actually do believe that the market still has a few months left in it, after all, we bounced back pretty well after this recent dip, but, I had a goal and I have to stick to that goal. + +For me, the goal when I bought in at 2017/2018 was paying off my mortgage (with of course enough to also cover any tax) + +I know that most users here have only like $500 invested, so, it's easy to scream "HODL!" but, believe me, once you get close to your goal, those dips become scary. For me, the weekend "dip" wiped off $40k in value. That $40k meant not paying off the loan, "damn, i was so close," I thought. + +And here's the thing, I've been just above the goal for a week or so, but I held because I got greedy - I bought into the hype. That 'dip' was a nice little reminder, "don't get greedy, stick to your goal and sell", so I waited for the dip to rise as best as I could and for the goal figure to be reached again (luckily this happened) and I sold. + +# Some history and lessons learned along the way + +I've been interested in crypto for many years, so I'd like to reflect on that time and put the lessons learned from each phase into a simple table here for y'all: + +|Year|What happened|Lesson learned| +|:-|:-|:-| +|Somewhere around 2010-2011|I remember talking to friends about BTC hitting $1 USD. They were skeptical and I didn't look into it further.|Learn and read more, don't listen to others.| +|2012|I looked into buying on Mt Gox but decided against it because it would mean sending personal information to Japan - I decided this was too risky.|Sometimes, you have to take a risk. Back then BTC was worth hardly anything, but my concern was a shady company in another part of the world having my passport details.| +|2013-2014|After some time away from PCs, I built a machine and decided to try some mining. I joined mining pools (like Nicehash) that later exit scammed and lost funds.|Not your keys, not your crypto. I kept my mining rewards on the pools website and also moved some to a dodgy trading platform that disappeared (Cryptsy)| +|2014-2015|I heard about the ETH ICO and had brief look into it but was too distracted with other financial matters so again did not buy.|This time there were no friends dissuading me, in fact, it was someone who I cannot remember messaging me and suggesting I look at ETH. I wasn't paying enough attention and didn't explore further.| +|2015-2016|Somewhere around here BTC was at like $1k USD. I remember thinking it was way overpriced.|Don't assume you know the right price of anything.| +|2017|Mania and hype. I had stopped paying attention to BTC. A friend mentioned that it had hit $10k USD. I fired up some of my old mining wallets and transferred them to exchanges and got serious.|The best time to invest was yesterday, the next best time is today. I had missed out enough, it was time to take the plunge. I had also been wrong about BTC (see above), so I wouldn't take the risk again that "$10k is too high" like some friends said at the time.| +|2018|The crash. I had invested in but seems it was too late, everything cratered.|HODL. I had read enough to know and understand that there might be another market cycle, there SHOULD be another cycle. I held onto basically coins that went -90%. I also learned that BTC is king, there would be no new bull market until BTC lead that charge, so I moved most of my value to BTC and told myself I'd wait.| +|2019-2020|Buying here and there. Unfortunately I missed the 2020 low because I needed money for other things, but toward the end of the year I got very interested in ETH 2.0 and decided I wanted to have a validator node (32 ETH). I used savings and my tax return to buy in.|Buy in a bear market, sell in a bull market. Buy in what you believe in and do the research. After being lax about learning I dove headfirst into ETH. I tested staking on the testnet, I played with DeFI.| +|2021|Our current bull cycle and hitting a personal goal.|From the beginning, I knew that I didn't care if I'd get rich and become a millionaire, my main goal was to pay off my house, if I could do that, that would be enough. Well, I hit that goal, went above it actually, and as you read in my intro, got greedy waiting for more gains since this "is just the beginning". A major dip shattered that greed and helped me realise that I should stick to the plan. I sold. Don't be greedy.| + +There you have it, many lessons learned throughout the years, but if I had to distill it into the most important ones: + +1. **Actually use the things you're buying, test them for yourself**. Make sure you really believe in what you hold, and not just because people are saying it will moon. +2. **Buy in a bear market.** And yes, there will be a bear market, of course, maybe not now, maybe in 6 months, but there will be one. Be ready. That is where I made my biggest gains. I know, this part is hard, when things are really bad (remember when BTC hit $4k in the "dip"), everyone loses faith and thinks, "it's going to $1k" - but that is just greed. DCA your way in for best results if you have to. +3. **Stick to your goals.** Don't be like me and get greedy, only to then get spooked. Thankfully, everything bounced back, but what if it didn't? I would've missed paying off my house because I got greedy waiting for ETH to rise even further. + +\--- + +Truthfully, I will never completely move away from crypto. I believe in it long term. Hell, I had less anxiety about moving BTC and ETH around than I did about requesting my exchange to withdraw to fiat. + +Who knows, everyone here is still super positive, the sub keeps getting new members (or maybe it's just people creating alt accounts?) the run keeps going, BTC hits $100k, ETH hits $10k and I will look at it like, "damn, maybe I should've held," but that's OK, it's very hard to time the market and hit the top just like you can pretty much never buy the bottom. + +I'll live with that because I'll have achieved at least one major goal. + +I hope you guys can do the same, and I hope you have the fortitude to 'hodl' when you need to, and sell when you need to, when it's your choice. + +EDIT: **Thanks for all the replies guys**. To answer some of the recurring comments and questions; yes, I sold out in phases, yes I still hold a small amount compared to what I sold (I won't shill projects here) including moons (this is an alt account). I will continue to post here and continue to post on this alt account. I've been posting here since 2017. Yes, I will continue to invest in Crypto. + +EDIT 2: **So, this blew up**. I've tried my best to read and reply to as many people as possible, and of course, many scammers have contacted me (so I'm glad I posted this with my alt account), I'll add a few more things here and leave it at that since I think this honestly has too much attention for what it is, I'm just a regular dude sharing some thoughts. + +1. Yes, everyone, the goal price considers my tax! +2. I'm not in the US +3. Yes, there are many financial advisors here saying that I made a terrible mistake and should've kept my mortgage. I guess everyone has a different situation and different goals, so consider their posts, even though they're having a go at me for making a dumb move - who knows, maybe their advice is right for you +4. Yes, this is real, and this is my alt account, it's not some conspiracy by whales to make you also sell. +5. The intention here is not to scare people off or also make them sell, I just wanted to share and reflect on what crypto has been for me. I didn't want this much attention. + +**TLDR;** I watched early crypto for a couple of years and did nothing. Then I dabbled with mining and got burned. Then I missed ETH ICO. Finally I got involved in the last run seriously and experienced the crash. Held till now and perhaps sold early, but thats OK. +Facts: GameStop Twitter account just gone black and Facebook is dead gray. +They want to told us that GameStop (old one) is dead and we are hours before reveal of new GameStop branding or even new name. + +I don't know if any ape figured this out but I'm putting all my money on it. New king is coming! + +Edit: To clarify why I said tomorrow. +As and marketing guy I know that disabling official Twitter acc for longer than day may cause investors to panic so my bet is tomorrow. +I have a cousin that is taking care of our three 5-7 year old kids on Saturday evenings for a few hours. What do we think is the current going rate for this? +$StopElon started off like most potential moonshots, with a vision and a plan. The plan is to take control of $TSLA stock with a 2/3 majority ownership and $StopElon from being able to have such a direct effect on the market. + +What no one envisioned was how there would be many converging factors that could allow this community to grow & become a rallying point for everyone that is fed up with market manipulation, the system always winning & Business leaders like Elon that have left the everyday person in the rear view mirror. + +Having a cause or being the newest token happens all the time. Coins are purely speculative and should be treated as such. With that said, $StopElon is only a week old, making exponential returns still possible. Any early clue that this is much more than the new token is the community being forged on social media apps, as we speak. $StopElon is available on Telegram in (16) different languages as the community has pitched in to design our ecosystem in a way that encourages coin holder engagement. + +Update: + +* Our updated website update is live! +* We have gained another 8000 holders, now at 18,500+ and total transactions have now surpassed 45,000 +* We are in the process of starting a WeChat to help connect our potential holders in China that are currently behind firewalls +* Next AMA on saturday 29th 4PM UTC! . +* The team has been in talks with many different exchanges as well. I do not expect much yet, but I have been impressed and surprised so far with every turn. +* $StopElon in the media. + +Check our TG for daily updates + +Tokenomics: 0.1% max buy/sell 10% tax total (to holders and LP) 40% initial burn (almost 50% burn as of now!) 5% dev marketing wallet 5% community wallet + +✅ Verified contract 0xd83cec69ed9d8044597a793445c86a5e763b0e3d + +Twitter: STOPELON (@STOPELON\_BSC) + +📷 English Telegram (@StopElon\_BSC) + +📷 Website: [StopElon.space](https://StopElon.space) + +📷 Chart: [https://charts.bogged.finance/?token=0xd83cec69ed9d8044597a793445c86a5e763b0e3d](https://charts.bogged.finance/?token=0xd83cec69ed9d8044597a793445c86a5e763b0e3d) + +🥞 Buy (v2, slippage 12%, 0,1% max) : [https://exchange.pancakeswap.finance/#/swap?outputCurrency=0xd83cec69ed9d8044597a793445c86a5e763b0e3d](https://exchange.pancakeswap.finance/#/swap?outputCurrency=0xd83cec69ed9d8044597a793445c86a5e763b0e3d) +I’ve been doing STR for a couple of years and it’s still hard to believe how low maintenance and how profitable it is. Makes me wonder why more people aren’t doing it. + +For example, I have a 4 bedroom 3 bathroom property that I paid $342k for. It’s in a smallish city (180k population) on the east coast. + +There are some Airbnb related expenses like $1200 a month on a housekeeper. Obviously I pay the utilities plus the cleaning supplies. + +Mortgage, insurance and taxes are about $2k a month. + +My total costs are about $4k a month, all in, or $48k a year. + +It generated $80k in revenue last year and is on track to do $90k this year. 2019 was a partial. + +It is incredibly profitable for what it is. + +I should also mention that it was set up as fully remote. I have not been at the property for 2 years since it was launched. Messaging is mostly automated so we’re talking about 15 minutes of work per day per property. + +I’ve been doing it for 2+ years but I am still waiting for the catch, for the “gotcha” in all of it. + +Update: + +Thanks to this discussion it’s becoming clearer why more people aren’t doing Airbnb. It invokes a lot of negative emotions. Whether or not those are warranted or really relevant when talking about an investment is a whole other story. +Hey ya'll, congrats on hodling through another week. You are stronger than you know, and we will all come out of this mess blessed. + +**TL;DR:** Over 7,000 resumes including the words "hedge fund" are posted on [Indeed.com](https://Indeed.com) with many being updated within the last month, and ALL 7,000 within the last 6 months. Although the information presented utilizes only one of a myriad of potential keywords, we have a unique way to get an inside look at the health of banks and hedge funds over time. This information can provide valuable insight into the current corporate climate and employee sentiment, as well as forecasting potential sweeping corporate changes (layoffs, dissolution) before they are made public knowledge. If they can see our personal talks and strategy on this forum, we can delve uncomfortably deep into their private business too. + +&#x200B; + +My specialty is intrinsic relational analysis. You can learn a lot about the inner psychology of an environment by monitoring the business' pulse (employees ) and extrapolating the info, concerning how it relates to the health of the business as a whole. As others have put it, rats simply jump off a sinking ship. You may be looking at the front of the ship and it looks brand new, but you can not see the huge hole in the back. You see the rats jumping, you know the end is near. + +&#x200B; + +My preferred analogy is to think of a corporation as a person. If a person is calm and healthy, their demeanor will reflect the same. If the person is undergoing a health crises or a period of great stress, you will be able to hear their heart beating through their chest. You'll see the the labored breathing, the sweating, the grabbing of the left arm. When you see them reaching for the aspirin, you can begin to infer they know they are about to be on life support. What I aim to demonstrate is that we are able to make an educated guess as to how close the hedge funds are to flatlining by examining how their employees are reacting to the current environment. + +&#x200B; + +One of the ways we are able to see the hedgies and banks reaching for the proverbial aspirin right this moment is through the resumes posted to various job search forums. I only chose [indeed.com](https://indeed.com) because it is free to search resumes, and it contains an ample sampling of a broad array of careers. However, if you want to try to really dive deep and see the true scope of the mass hedge fund and bank exodus, there are job boards that cater specifically to financial careers. You could even look on tech boards, engineering boards... The resumes listed on indeed are only the tip of the iceberg, and I encourage you to diversify your research into other job boards. + +&#x200B; + +**The Method:** + +&#x200B; + +Go to [resumes.indeed.com](https://resumes.indeed.com) and input "Hedge Fund" into the search bar. This will search all current resumes for those specific words. Other words to try are "Investments", "Portfolio", "Trading" "Spicy Mayonaisse", etc. + +&#x200B; + +What we are looking for next is the "recently updated" text in orange. Go back a couple months and see how many resumes have been updated or uploaded. It is an impressive amount for any search term you use. + +&#x200B; + +[Resume Data Sample 06\/26\/21](https://preview.redd.it/nldvu1808l771.png?width=960&format=png&auto=webp&s=d101d6ba8d5a3558c0a8177a7bd8de017b4de21a) + +&#x200B; + +Using this data, we can start to see a tiny glimpse into the psyche of the corporate employees. Much like trading is largely based on a FOMO/Fear cycle, the fear cycle is kicking in pretty heavily at this moment for the hedge fund employees. + +&#x200B; + +Tracking the information daily, we should be able to start seeing an exponential increase in updated or new resumes every time a hedge fund collapses quietly in the background, or when a bank starts announcing layoffs and giving a few weeks notice to their employees. Resumes are just one facet of data collection we can employ to get a grasp on the current situation and there are other methods of relational data collection that can be found, which will be explained in future posts. + +**Final Word:** + +That said, I am commissioned to love on hurting people, pray for them, and read between the lines when they can't quite express what they need to be said, or when they have hidden needs that must be met. Although there are some truly evil people in this world, many in the employ of hedge funds are wage slaves just like us. This is not to excuse their profoundly egregious behavior, however. There are consequences to everything we do, and the consequences of their actions are coming due. Do remember though, there is an abundance of good people stuck in less than desirable career choices out of absolute necessity. These hedge fund employees have the same medical bills, mortgages to pay, and children who are blissfully oblivious to their parents current financial predicament. While many are complicit in the criminal acts leading to this mess; ultimately loving your neighbor and being a true light, showing the enemy how to correctly live the right way by your own example is the only way we can ourselves find a path to healing after all this is done. Lead by example, and show those who have lost their way, their career and identity how to change the world for the better, and be better people. + +&#x200B; + +Be the change you want to see, stay strong, buy and Hodl, and God bless. <3 Silky + +&#x200B; + +I like cats. + +&#x200B; + +**EDIT:** + +Speaking of relational analysis, can someone please link that post about the Food Delivery Guy in the comments? If I remember correctly, his post was the one that started the wheels turning on this DD. Unique and fun bit to read if you get a chance! + +**EDIT 2:** Here is the food post, another unique way of looking at relational Data. Thank you kind apes for the quick response! [https://www.reddit.com/r/Superstonk/comments/o7uf1q/citadel\_office\_activity\_from\_the\_ground/?utm\_medium=android\_app&utm\_source=share](https://www.reddit.com/r/Superstonk/comments/o7uf1q/citadel_office_activity_from_the_ground/?utm_medium=android_app&utm_source=share) + +**Secret Edit:** + +Speaking of resumes, I am currently taking applications for a lady ape to share life with and marry. Maybe make some baby apes that will grow up in a world left better than when we came in. My mother says I am handsome. Thanks ma, I know its been a few decades, but i'll move out soon. +Came across this listing on Zillow and started thinking about what I would do to turn this property into a cash cow (just as a fun mental exercise, it’s too late to buy the property now) + +What would you guys do? + +Self check-in motel? Divide it into apartments? Airbnb? Rent by the room? + +Here’s the link to the listing: https://www.zillow.com/homedetails/615-Columbia-St-Elmira-NY-14901/29955925_zpid/?utm_campaign=iosappmessage&utm_medium=referral&utm_source=txtshare + +Needs a lot of love and isn’t an amazing location so maybe it’s just not worth it and I’m just trying to find a way to make it work just because I like the property from an architectural standpoint. + +I’d love to hear your thoughts! +**Full Disclosure:** Hello reddit. I was previously just a community member and investor in Creampye. Recently, the CEO of PYE contacted me personally and did something I have never seen in the crypto world before. He brought me out to the headquarters and signed me to a full time position. You heard that right. I am **a community member turned full time dev.** What I saw when I entered the office for the first time was incredible. This was even more impressive than I had previously imagined. Creampye is not just here for the bsc bubble. They are here to deliver industry-disrupting technology and have the firepower to make it happen. This is a team of highly experienced developers, entrepreneurs, and marketers with decades of experience. They are not just here to take part, **they are here to take over.** + +**Overview:** + +* The entire team of 15+ members showed our faces and listed our business address publicly. +* **Actual use case** CEX/DEX hybrid exchange which will focus highly on customer service and experience (much needed before the masses can adopt in to new crypto). Augmented reality, NFT marketplace, PYE Charts. $138,000 charity donation already made. Very extensive roadmap. +* Contracts have been signed with both WhiteBit and ProBit. Trading will go live next week. +* Team has over 15+ years of experience building businesses. Creampye team has done marketing campaigns over **$100m USD** in past projects\*\*.\*\* +* Relatively small Marketcap (30m). +* You are early - Project is 20 days old and growing exponentially. <900 reddit members. <5,000 members on telegram. <11,000 holders. Might be your last chance to be “early” +* Tokenomics pay out 5% **Passive income** for holders! +* The team has built a variety of very successful businesses already. These are not kids in their parents’ basement. They are legitimate business moguls running a full-on operation. +* Hacken audit has been passed (received a score of 100%) and the whitepaper has been published. + +**Who Runs Creampye?** + +If you hang around this world of crypto long enough, unfortunately you may run into some teams that you cannot trust. I invite you to look at the pinned tweet on Creampye’s Twitter (@creampyetoken). Our entire team of 15+ members has shown our faces, we each have a mini biography on the website, and there is a business address listed publicly. See for yourself. + +**What Is Creampye?** + +Creampye (Pye) is a new token focused on creating new technology in the world of crypto and simplifying the process for mass adoption. We are working on a new exchange, Pyeswap, that will become the industry standard for purchasing crypto. This exchange will make crypto far easier to buy than it ever has before. Not only that, much of the focus will be on a simplified, friendly user experience that makes it easy for any average Joe to purchase crypto. This is desperately needed before the masses can enter the market. It is almost impossible to teach a newcomer to the world of crypto the multi step process of acquiring BNB, using pancakeswap, and storing tokens in a wallet. PYE is going to change this by making it easier to purchase all crypto currencies and we will be focusing on customer service and experience. We are also launching PYEcharts in a few weeks, an NFT marketplace, and have just passed a completed audit with flying colors (Audit done by Hacken). + +**Charity** + +CreamPYE was created in order to make a difference. The token has included that 0.1% of all transactions are sent to a charity wallet. Our team has made due on this already by donating the first $138k donation to Action Against Hunger only two weeks into our existence! The team behind CreamPYE has been involved with numerous charities from business ventures in the past. We have donated millions of dollars to various charities and it is a core component of our team values. Here at Creampye, we are proving that the world of crypto can make a positive impact on the world through our charity donations. + +**The Entry Point. You are early.** Our goal is to become a top 10 token. We have the community, the experience, and the tech to back that goal. We were consolidating for the past few weeks and I have been posting about how it may have been the last time we saw those prices. We have just broken through the all time high, but with a market cap of only $30m, you are still early. When we achieve our goal of becoming a top 10 token, that is over a 1000x gain from here. The holders, the community, and the exposure are growing exponentially. We have had YouTube posts and mentions from some of the biggest names in the game, including Torin Hoffman, Conor Kenny, and Alexandrus 1337. Just last week PYE was mentioned on the Pardon My Take podcast, which pulls in 1.5 million daily listeners. The CEO is good friends with business mogul Gary Vee (video of them hanging out posted in telegram), and former Miami Heat player Damian Jones recently retweeted Creampye. These are many exciting developments in the early days of PYE. + +**In conclusion** +I have only given a brief overview here, but I invite you to do more research yourself. We are blazing our own trail in the world of crypto that will give investors access to an entirely new, user friendly ecosystem of programs. Many will try to replicate what we are creating for decades to come. We are a results oriented, relentless, and highly experienced team. The last piece of the puzzle is more eyes on the project. This will happen we get listed on Whitebit and ProBit within the next few days. The contracts have already been signed. It’s happening. CMC and Coingecko has been applied for, soft dates have been given for more exchange listings, and big news is happening every single day. Do your own research and if you decide to join the Pye fam, buckle up, its going to be a crazy ride! + +**Where to buy?** + +\-Ticker is PYE + +\-Pancakeswap [https://exchange.pancakeswap.finance/#/swap?outputCurrency=0xaad87f47cdea777faf87e7602e91e3a6afbe4d57](https://exchange.pancakeswap.finance/#/swap?outputCurrency=0xaad87f47cdea777faf87e7602e91e3a6afbe4d57) + +\-Website: [https://www.creampye.com](https://www.creampye.com/) + +\-Telegram Group: [https://t.me/creampyetoken](https://t.me/creampyetoken) + +\-Twitter: [https://twitter.com/creampyetoken](https://twitter.com/creampyetoken) + +\-Reddit: [https://www.reddit.com/r/CreamPYE/](https://www.reddit.com/r/CreamPYE/) + +\-Discord: [https://discord.gg/rT8GdwnN](https://discord.gg/rT8GdwnN) + +\-Chart: [https://charts.bogged.finance/?token=0xAaD87f47CDEa777FAF87e7602E91e3a6AFbe4D57](https://charts.bogged.finance/?token=0xAaD87f47CDEa777FAF87e7602E91e3a6AFbe4D57) +Positive options talk has been suppressed and FUDded for a year now. + +DFV held Far dated calls, was he wrong? FUCK NO. + +A wall street veteran saying how POWERFUL that RETAIL BUYING CALL OPTIONS is and was last January would and has set off massive alarm bells for the SHFs + +Multiple highly awarded comments on the orginal video post about options were deleted. Upvotes squashed and reddit outages all day. Sucks for the SHFs though, this just made the vid spread further. + +Call options are the number one thing they've tried to bury for the last year. + +They use ITM Put options to shit on the price for every big dip and retail can use smart Calls to raise the price and then EXERCISE those calls to squeeze the life out of them once and for all. + +They've been pretty successful at burying any positive options talk but still the truth has slowly been leaking out and apes are waking up. Apes will not be kept in the dark any longer RE options. + +u/gherkinit in particular has been fighting against this FUD for months and his posts and in particular the MOASS Trilogy DD are a must read for any apes wanting to understand options and how they have affected and will affect our beloved stock. + +Buy, hold, Drs & buy further dated call options if you know how and then EXERCISE them. (Cashless exercise, sell one call exercise another etc.) + +&#x200B; + +PS. + +Great info from u/ [**CunilDingus**](https://www.reddit.com/user/CunilDingus/)**:** "Call options with major expirations are important to price action. Don’t lose money on weeklies. The next major expiration dates are Jan 21, Feb 18, Mar 18 + +Research. Buy. Buy Calls. Hodl. DRS." + +PPS. + +I made similar comments in a few of the posts about this video today and they got a lot of awards and upvotes so I made a post. So you may have read something like this already. +&#x200B; + +https://i.redd.it/ehfxstjs46v61.gif + +&#x200B; + +Edit: + + +Thanks everyone for the feedback. I appreciate the different angles shared. I'm sharing the MT4 stats below just in case it can help clarify a few things. + +https://preview.redd.it/twbco9ry5dv61.png?width=848&format=png&auto=webp&s=77b986e7350f6429ef21f2b64ebb9064d5f9e45a + +Yes, this is a demo account. Some will say I won't be able to reproduce this in real life. Sure, it's possible, I'm not denying that. I know it first-hand having been in trading through the ups and downs these past several years. However, I've been able to put together a list of rules that I go by. I track every trade I take and I take the screenshots of the chart at the moment I trade it so I can refer to study it over the weekend. + +I risk between 2-3% of the starting capital per trade, and put a daily risk limit of 10% per day. I usually stay within 8% of the daily risk limit though. I still think that is pretty high, so I plan to cut all of it down by half (1-1.5% per trade, 5% max daily risk). Theoretically I just have to cut my lot size in half and I should be able to achieve this. + +I did however have one relatively big drawdown of 13-14%, although I attribute this one to a trade where my stop order was accidentally cancelled. Tried my best to hedge it but had to cut it at a loss before it became greater. + +Based on the comments I've gotten from everyone here, it looks like only time will really tell if I am on the right track or not. + +&#x200B; +This is a follow up to my posts about my experience FIRE'ing: +https://www.reddit.com/r/financialindependence/comments/9fesmd/help_me_decide_to_fire_or_not/?st=jr87spjo&sh=024c00c1 +https://www.reddit.com/r/financialindependence/comments/airigu/sofa_fire_4_months_into_a_lazy_early_retirement/?st=jxt6qzmw&sh=f7382012 + + +**Quick recap** + +FIRE'd 9 months ago at 35 years old, 1.6 million Canadian dollar, Software engineer. +Homebody, with dweebish tendencies. +&nbsp; + + +**Overall** + +Not much has changed on the surface. +Some days are great. +Yet some days I regret FIRE'ing and giving up more money and more professional achievements. But for now, it's hard to let go of the freedom and comfort of being FIRE. +I'm slowly learning more about myself and what I want/need in life. And these conflicting feelings are part of it. +&nbsp; + + + +**Finances** +Net worth hasn't moved in any meaningful way. Somewhere between 1.5MM and 1.6MM Canadian dollars. +I have a firm managing my portfolio using a passive index strategy. I know what most people here think about giving away 1% to a money guy, but I just love not having to do it myself, and it makes it easy for me to not become addicted to watching my net worth frequently. +I had some big tax return that will allow me to live another years without withdrawing. +&nbsp; + + +**Daily routine** +The mood is usually good. +My only daily structure remains a visit to the gym everyday. I usually plan to going at 10AM, but end up procrastinating until noon. +I go every week day. Since it's my only mandatory achievement, I would feel like shit if I skipped it for a trivial reason. +Then without any particular schedule, I do the chores and my hobbies. +oh, I have started journaling too, as an exercise for better mental health. +&nbsp; + + +**Hobbies** +I have been working a 2D video game which is nowhere close to completion, but scratches an itch need for creativity. + +Watched many movies on Netflix - like, properly, without laptop/phone checking. What a strange experience! + +I read more, and it feels good. Self development mostly. Got to read something else. + +Played modern 3D video games a lot for a couple of weeks. I don't really enjoy it these days. It feels wasteful. So I stopped altogether. + +&nbsp; + +**Work** +I still have money anxieties about not having an income. +To the point that I have applied to a few jobs to relieve it. +Got interviewed at 3 companies for software dev positions. Only one really interested me. + +- 3 times I mentioned that I was in no rush and taking my time to look for a good match. + +- 3 times I asked for top 5% salaries on the market. + +- 3 times I was rejected. + +&nbsp; + + +I would have been good at these jobs. And I'm good at interviewing usually. +I guess I asked too much $$$ and must have a conveyed that I did not ultimately care. +Still, these rejections scratched my ego. +I decided to give myself a few more months trying to figure out things without falling back to a 9-5. +Now that I have FIRE'd, I have a hard time tolerating how many interviewers act like they are so hot with their brain teasers, overly personal questions and idiotic comments about how you only know TECH v1.9 and they're using TECH v2.0. +They act like gatekeepers of Rome, but I feel like Caesar visiting the frontier. +Irrational, I know. But just telling you guys how I feel at the moment. +&nbsp; + + +**Expenses and travelling** + +My expenses have remained under control except for some splurging on travelling. +1 month travelling with my girlfriend picking more convenient/comfortable/expensive options than usual. Loved it. +Reaching this level of comfort for any trip, and getting my girlfriend to FIRE are two things making me want more money. +&nbsp; + + +**Socialization** +Getting a bit rusty with social skills. +Thankfully, a few friends and former colleagues have got back in touch recently and it was good seeing them. +But I need to connect with people more frequently. So it will either be addressed with new hobbies... Or a job, if it comes to this. +&nbsp; + + + +**What's next?** +More fo the same. +New social hobbies. +Meditation. +Addressing money anxiety by either finding an income and accepting that current life style is enough. +Hi, + +What services do you use to go frugal in your life? For example, buying from a thrift store, using free mobile data by some mobile sim provider, etc. + +&#x200B; + +Share your thoughts and experiences. + +location: Germany. +I'm in Australia, and our government has provided stimulus payments to members of the population under a certain level of income/if they're out of work. Australia has had big issues with its Centrelink agency (welfare) even before the pandemic, and this stimulus is a total 180 by our currently very conservative government. But, it does seem to have helped. I can imagine countries more inclined to spend money on such things would be going smoother. + +So, what are some of the measures being taken by nations with strong social welfare and safety net measures, and are they working? +So basically, I noticed a big hit on my credit about a month ago, and when I researched what it was, it was relating to a medical bill I must have received in college. I don’t remember what this bill is pertaining to or why my insurance would not have covered it at the time. + +It has been nearly a months since I sent the letter to the debt collector and I still have not revived a response. + +What other steps can I do to get this off my credit report? +Hi all, I never invested in my life, and it's time to start. I want to harness your collective knowledge in this regard, grateful for any suggestions you can give me! Some info about myself: I am 37yrs old, full-time employee living in Maryland. I started to contribute to my 401k with my employer in 2014. + +I am married, family, and mortgage (started 1yrs ago - 30yrs). I managed to save 96K so far in my savings account, and I was thinking to invest 50K and keep the rest as a rainy fund. I tried my best to educate myself on this matter, and I don't want my saving to get depreciated in the saving account and put them to good use. I have a medium time horizon (10/15yrs) and medium risk tolerance (anything over 5% would be great for me). What do you suggest? Vanguard? What's your view on Robo advisors in general? 2020 scared the hell out of me, and I am procrastinating my decisions. I don't come from a family that ever invested (I am from a country "allergic" to markets), and I am fearful that the financial apocalypse is coming, and I am the "idiot" who started investing with the worst timing ever. Grateful if you could put some "sense" and encouragement! Thanks! +Throwaway account because of media coverage. Sorry for the lengthy post. + +**TL/DR: Please ELI5 how I can make untaxable $1+ million grow? Should I take the entire amount or get a structured settlement for life? Imagine I really am 5 years old with poor impulse control and no understanding of money, so ELI5 your reasoning behind your advice. TIA!** + +I have no parents or close family, was poor all my life, and I'm just now on my way to a career that will be lucrative once I finish schooling. In my new career, I can retire at 62 with a reduced pension (67 with full pension) and after 1 year more of training and licensure, I will have a starting salary of around $75-80,000 which is more than I have ever made in my life. Within 8-10 years, if I stay put, I will be making over $100,000, around $125K when I retire. + +I have always toyed with the idea of becoming a medical professional. (Worked in EMS for 3 years). Nurse practitioner ($100K+/yr), physician ($300K+/yr), physician assistant ($100K+) are all careers where I can get full scholarships if I choose primary care. Anesthesiologist Assistant ($150K+/yr) is only a 2 year Master program but it's not considered a primary care profession so I'd have to pay tuition, plus the number of states AAs can practice in is limited. + +I'm currently in a public service profession, though I have been and done a lot of different things, mostly low-paying jobs beneath my education qualifications, and went years without holding down a steady job (and spent years working a job where I received a lot of cash and have nothing to show for it.) + +I love my job, I feel I like I might have finally found my way in life after much searching and instability. The only downside is I have to live in this city, my hometown, and I am a free-spirit type of person who not only loves to travel and see the world but I also can't stand city life. (Nurse practitioners and doctors can travel and get paid, it's called locum tenens) I really want to live in the country and own acreage but my current job requires city residence. + +Because of something that happened to me while I was underage, I will be receiving at least $1,200,000 in the very near future. If I receive that amount, I can expect $720,000 after attorney's fees. My attorney has assured me I will probably receive more than that due to me being underage and the extent of the damage. + +So let's just say I receive $1,200,000 (and attorney's fee has already been taken out, meaning I received $2 million) + +1. Do I take a lump sum or a structured settlement via annuity? Since I know absolutely nothing about money and how to make it work for me and have had a flighty type of bohemian hippie life, I was leaning toward structured settlement for 40-50 years, receiving a monthly payment of $2000-$2500. At least that would guarantee some type of financial security until my late 80s. It's not much but it's untaxable and if can cover my basic needs in the US or cover a lot more if I moved to another country (Costa Rica, Panama) where I can retire at any age on $1000/month or buy some land and go off-grid raising chickens on a homestead. +2. Should I take a lump sum, pay off debt (maybe estimated $100K total, with student debt, credit card debt, etc), and try to invest in index funds or the stock market? + +"Index funds" and "stock market" are buzz words, fwiw. I guess I'm asking for help or guidance. I want to be prepared to handle this unexpected windfall. I've read tons of stories of how people go broke within 3-5 years after receiving such a blessing or winning the lottery. I don't want to be that person. If there are any tips, tricks, books, podcasts, companies, or websites you can point me to, I'd really appreciate it. I've already started cutting back my online monthly subscriptions. Even though I just moved to a bigger place (I rent), for the past 3 years I lived very frugally in a one room apartment the size of most people's walk-in closets. My restaurant delivery bills were expensive though since I had no kitchen. + +At this point I don't know exactly how much I will receive. It could be more than I estimated above. My attorney thinks it will be. So if I get awarded $3 million, I will get $1.8K after lawyers fees. But once I take the structured settlement or lump sum, that's it. There's no turning back. I am terrible at doing taxes, it's literally all greek to me but this money is untaxable, I know that much. + +I'm childfree and without a partner or close family and I have no intentions on changing that. I did recently learn I have 4 nephews and a 1 niece from an estranged half sibling who died suddenly at age 40. I'm debating paying for their college tuitions, though we don't even speak and are just barely starting the beginnings of a relationship. (They have no mom or dad now and are being raised in lower-middle-class/upper-lower-class poverty from a hard background like I was.) I am also tempted to pay for my grandmother's nursing home, but I'd lie and say it was from an A-list celebrity I've been friends with for over a decade (really thinking about that, because her son, my uncle is evil and his kids, my cousins are evil too. They would have no way to contact this celebrity, the lie would hurt no one.) + +I learned a lot about so-called "family" when my terminally ill single mother died in her 40s. She died without teaching me anything about finances and she was a total mess (like I am), and it was only because i had a friend who was an attorney who helped me find a life insurance policy that lapsed and used his lawyering to get me $100,000 from her policy. + +To me, that was a ton of money. But everyone in my family from the above uncle and his kids to my uncle's friend came at me, not to help me grieve or to offer a shoulder to cry on, they came with palms outstretched (pay off their student loans when I haven't even paid off mine yet, invest in this scam, etc). Family who had never once been there for me or even spent time with me suddenly wanted to call me up or see me and it always came back to "Can I get...?" + +I was so depressed I ended up running away to another country and blowing through it all in under a couple of years on absolutely nothing of consequence. In my mind, I remember thinking, will my family be there for me if I'm penniless? I justified my deliberate actions by reading stories of people who had made and blew fortunes repeatedly. So I deliberately blew $100K and not even on sex, drugs, or booze like most people do. To be honest I don't have anything to show for it, but I really don't regret it. + +The only thing I regret is not taking care of my grandparents and I felt guilty for a long time after that, but luckily I apologized profusely to both my grandma and granddaddy and they forgave me. I was there for my granddaddy before he died, dropped everything, moved back to my hometown and changed careers to care for him. Sorry for the novel, but this is where my desire to care for my grandma comes into play. + +I'm a few years short of 40 and hopefully I'm mature enough to finally learn how to get a handle on my finances, but oftentimes I feel I was emotionally stunted in my teens because of painful experiences I faced, including what is now ironically, going to pay off. + +Any help or insight you can provide would be greatly appreciated. + +Moderators, please remove if this is the wrong place to post. Thank you in advance for your advice and compassion. +Suppose jack gets paid $20 an hour in 2020. + +Inflation causes the average cost of goods to go up 10% during that year. + +2021, Jack receives the same numerical $20 an hour, but his purchases power is reduced to $18 in "2020 dollars" + +Jack's employer is effectively cutting their cost to pay for Jack by $2 an hour. + +Lower cost of individual workers means that more workers can be hired both due to their deflated wages and because the company is saving $2 an hour. + +Is this all roughly correct or am I off on this? Id imagine that there are other forces that kick in due to labor competition but I think this roughly makes sense +To preface I understand how fortunate I am to have a job that allows me to work from home but there's a part of me which would love to have a few paid months off. Anyone else working from home feel that way? I think it doesn't help I've always struggled working from home so not having a work-life life separation is getting tough. +I think that Robinhood has a big problem on their hands (no surprises there). Maybe I never understood PFOF until now, but here is a breakdown of how they were **stealing my money and fudging the receipts** when I bought **fractional shares** with them. I would highly recommend that anyone else who bought fractional shares of GME from Robinhood, and then transferred to another broker, check the reported costs. + +# On Jan 27, 2021 I opened a Robinhood account and spent $300 on fractional shares of GME right at market close and into after market hours. I never had an account before this date. + +&#x200B; + +[1st purchase of 0.273305 shares for $100 at 4:07PM EST on Jan 27th, 2021](https://preview.redd.it/1j850zhbaa071.png?width=1210&format=png&auto=webp&s=62a987af1fde4763f27d5a8dcc85037048f35714) + +[2nd purchase of 0.309138 shares for $100 at 4:18PM EST on Jan 27, 2021](https://preview.redd.it/os31baxdaa071.png?width=1240&format=png&auto=webp&s=a6ab3f50e671001ea6ffd39eb95bb30981cad989) + +[3rd purchase of 0.296296 shares for $100 at 4:47PM EST on Jan 27, 2021](https://preview.redd.it/allbxhdfaa071.png?width=1116&format=png&auto=webp&s=28be426a740058742353c1bd35e08649b4fe418d) + +Like many others, after discovering how bad of a brokerage that Robinhood was, I decided to switch. I transferred all of my securities over to JP Morgan's YouInvest (one of the few brokerages that did not limit buying or selling of GME in January) in March. It has taken until recently for the cost basis information to show up in my new account. I've seen recently that people were posting some discrepancies in the way their shares were transferred over-- particularly the cost basis. So I decided to check mine. + +&#x200B; + +[The information transferred to my YouInvest account from Robinhood shows only one purchase of GME on 1\/27\/21 and SIX purchases of GME on 1\/13\/21...](https://preview.redd.it/hveupx3jaa071.png?width=1442&format=png&auto=webp&s=ea8dd3e7945b6c52ca25e632d70396c1ecdca9df) + +# To reiterate, I made my RH account on 1/27/21. There is no way that I could have purchased GME with them on 1/13/21. But wait, there's more... + +*Just look at those* ***unit costs***. That was the cost of a full share that RH is saying that they purchased a fraction of on my behalf. But on Jan 13, 2021 the price of GME was **nowhere near** that. + +&#x200B; + +[The highest cost for 1 share of GME on Jan 13, 2021 was $38.65 according to Yahoo. So these unit costs reported by RH are fake and made up to make the numbers make sense.](https://preview.redd.it/4rx2c8ykaa071.png?width=1684&format=png&auto=webp&s=1f3e73a2d880a46da64ae9806e19c3ff44dc008a) + +# The full breakdown looks like this: + +&#x200B; + +[I gave $300 to Robinhood and they spent only $252.02 to give me 0.8787 shares of GME](https://preview.redd.it/m1lqng2naa071.png?width=1456&format=png&auto=webp&s=fce487bde11ad100b72ad514adf469ee653fe707) + +# TL;DR Robinhood stole $50 from me and then fudged the dates and unit costs for my fractional shares in order for the numbers to make any sense. The way the purchases were recorded on my RH account documents and the way that they were reported to JP Morgan Chase are different. I never even had a Robinhood account on January 13th, 2021. If RH would have spent my $300 on 1/13/21 like these documents say, at the highest GME price, I would have owned 7.76 shares. Based on the reports that THEY sent to my new broker and the closing price of GME today, they owe me $1,360. + +**P.S. The true cost of trading <1 share of GME with Robinhood in January was $50. Not free at all.** +I am a fucking idiot and I truly hope I am the only one today who was fucking retarded. I put in a MARKET order call by accident with a shit ton of money and lost my money while trying to sell too swiftly back into the market immediately after buying. I was stunned. So much work down the drain. I blame my fucking self. Woke up at 9 am to profit and wasted it in a second and then some. DO NOT TOUCH YOUR ACCOUNTS WITH LACK OF SLEEP. I became over confident in my results and experience and made the fucking most stupid decision of my life thus far. + +Options are not something to be trifled with nonchalantly. PLEASE learn from me. Don't touch options without a lot of know-how. These can ruin your life. Please trade responsibly. I am not touching options for the rest of my life. Its always better to wait on return than rushing it. + +I understand why people get suicidal now. It will scare you straight. Be well and happy trading +Like the title says, I grew up poor. Today my dad is a homeless addict alcoholic and my mother lives on a disability check for her mental illness. Thankfully I was driven at a young age and went to college for my nursing degree. I had to work full time so I did all my prerequisite classes part time. After 8 years of going to school off and on, I became a nurse. I now have 51K in student loan debt, 3K in a car loan, 5K personal loan, and 6K in credit card/collection debt. Everything is high interest (my car is 9%!!). My credit score has been horrible since I let a bunch of bills go to collection in my early 20s- most of which I've paid off. I always thought that once I was a nurse, I'd have the money to pay everything off. + +After almost 4 years of struggling I became horribly depressed. My friend from nursing school were buying homes, paying for weddings, going on luxurious vacations, having babies.... and here I was calling the gas company begging them not to shut my gas off. I felt as if I was drowning and unable to catch my breath. I knew I had to do something differently. + +At this point, I had already sold anything worth money. I cut my bills to a minimum- I don't have cable or a fancy phone. I dont have designer purses or shoes. I rarely eat out or buy Starbucks. I have been eating SO much rice and beans. My only option was to get a better paying job. I quit my clinic job where I worked 4-10hr shifts, no weekends, nights, or holidays and took a job working 12hr night shift in the hospital about a month and a half ago (yay working weekends and holidays...). Way more stress. Way sicker patients. But I had to do it. I also have opportunities for overtime. + +1.5 months in to this new job and I have been able to get current on all my bills. This is HUGE for me. I paid off one of my 4 credit cards (it was only a $300 limit but a start) and a $175 collection. I have started to build an emergency fund. I've set aside a modest amount for Christmas. I am finally seeing some light. 65K is going to be one hell if a mountain to tackle but I want financial freedom more than anything. My mental health needs this. My goal is to build a $1500 emergency fund and pay off all credit cards by March 2020. That alone will save me hundreds of dollars a month in credit card payments that I can put toward my car, personal loan, and eventually my student loans. + +I refuse to follow my parents footsteps. I will take care of my mental health. I have this amazing career and I will not let it go to waste. Who ever said money can't buy happiness has never been poor. I dont need money to buy me expensive things I need financial security. I need to be able to buy food, pay my gas bill, pay for my health insurance and afford the copays and deductibles. I dont have any late bills this month and it feels so fucking great. + +TL;DR Lots of debt, resent my parents, I'm a nurse now and finally taking control of my finances for the first time at almost 30yrs old. +with the outbreak of Covid19, the premier of my province in Ontario Canada just announced that if you cant afford rent due to Covid19 you cant get evicted. Who is going to foot the bill? Any Canadian landlords worried? any solutions? +In other words, if most of your wages go into your house, and you currently earn less than $175k, you would have been better off as ~~a median~~ an average wage earner in 1993. + +This may be obvious in reality, but seeing the numbers was surprising to me. + +Maybe it's wages that are broken, not house prices. Now's the time to ask for a raise. + +(Note this only takes into account the capital value, not interest rates which were around 5% in 1993) + +**Edit:** Just realised the data I was looking at was *average* wages, not median + +*Sources* + +* https://www.ausstats.abs.gov.au/ausstats/free.nsf/0/402B58AD857DDD04CA2574FA00146390/$File/63020_FEB1993.pdf +* https://www.aussie.com.au/plan-compare/property-reports/25-years-of-housing-trends-property-market-report.html + I have seen multiple threads this month on this sub regarding fraud calls. Before I begin, does anyone know if it has always been like this, or the number has picked up in the past couple months? + +So my story. I received a call from Gujarat. A woman was on the other side, she knew my name and she knew that I had an education loan with my bank. But I think that is all she knew. +Basically, my bank account was made by my dad when I was 13, and since then it has been linked to his account. An education loan was taken on my account, but the payments are auto deducted from HIS account. Even though the sum is small, he hasn't yet paid it in full because of tax savings. But the caller didn't know that. +First they asked me if I had been making payments towards the loan. I told them that I don't make payments and my dad does, and then it struck me that this was for sure a fraud call. They also said that I paid 23k towards the loan, which is way off the mark. Then they asked if my money is auto deducted, and I told them you are the bank why don't you know, and then they hung up on me. + +Even though I avoided a scam, what is concerning here is that they knew I had an education loan. Has there been a leak that I am not aware about? + 💎WokeJamesBond - $WJB -Elon tweet Rugproof $400k mc💎 + +📷[**Meme**](https://www.reddit.com/r/SatoshiStreetBets/search?q=flair_name%3A%22Meme%22&restrict_sr=1) + +💎 WokeJamesBond 💎 + +A Binance Smart Chain deflationary token where 5% of every transaction is distributed to holders and 5% to liquidity. Launched at $90k MC under a hour ago and now it’s 400k+. + +0x6d552d7a699cdd570ebd249fc38c4f942a351d26 + +[https://bscscan.com/token/0x6d552d7a699cdd570ebd249fc38c4f942a351d26](https://bscscan.com/token/0x6d552d7a699cdd570ebd249fc38c4f942a351d26) + +\- 1,000,000,000 Total Supply + +\- 100% Liquidity Locked via Dxsale + +\- Dev Tokens Burnt + +\- 40% supply burnt and locked for one year + +\- 100% RUG PROOF - APE AND REST EASY AT NIGHT. + +With Dogefather at 10,000,000 Mcap and ElonGate at 100,000,000 This is a ticking time bomb! Community driven! + +Pancakeswap (v2): [https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x6d552d7a699cdd570ebd249fc38c4f942a351d26](https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x6d552d7a699cdd570ebd249fc38c4f942a351d26) + +🌐Website: coming soon + +❇️Telegram : [https://t.me/WokeJamesBond\_Official](https://t.me/WokeJamesBond_Official) + +Features: + +✅ 150 BNB Locked Liquidity till year 2100 on DxSale ✅ website coming soon ✅ Social Media up and running ✅ Marketing Starts Soon ✅ Noice Memes ✅PancakeSwap Version 2 + +Tokenomics: + +✅ 1,000,000,000 Total Supply ✅ 100% Liquidity Locked via Dxsale ✅ Dev Tokens Burnt ✅ 40% supply burnt and locked for one year + +Elons tweet: [https://imgur.com/gallery/xSFUIxa](https://imgur.com/gallery/xSFUIxa) +I was definitely expecting some sort of increase in price, but holyyy! If I knew I would have at least bet on it on CoinFantasy or something wtf… it took everybody by surprise. The real question that remains though, will it keep rising or a downfall is eminent? +I’m in my early 30s finishing up law school. I’ve secured a job at a big law firm that will start paying me 225k a year starting late 2023x What do I do with that money so that I have a secured future in 5 years? + +By the time I started working, I would have about $100k student loan (all federal loan, no private) , zero credit car debt, no other asset to my name besides a car. How do I turn myself around? Should I pay the student loan all out first? Should I build cash first? Should I buy a house? + +Currently renting in one of the most expensive metropolitan area in CA. + +Never had money in my family - simply do not know how to work this money for a bette future. + + +I’m writing this up mostly for myself, but also to have a post so that when people ask questions when I frequent these forums I can just redirect them here. It is long. It starts slow. There will be typos. There will probably be continuity errors, but the basics are here. This is my real estate story, with real numbers. + +I'm not selling a system, promoting a book or a website. I don't podcast. I don't need more partners. This is just for reference. + +I’m in a town in Idaho with 50,000 people. It has never had the boom and bust of other towns. It just seems to plug along with inflation. I’m about 40 now, a white dude from a working class family. I did well in school, had full scholarships in engineering but hated it and bailed out for an easy business degree. In addition to scholarships I started 2 small businesses in college. One was in niche publishing. It paid the bills and we sold it shortly after graduation for a decent profit that cleared all debt and left me enough to build out my other business. The other business made great cash flow but didn’t build much value. I married young and started a job I loved that paid poorly in 2002. I ran the side hustle business for cash that supported my terrible career choice (think small nonprofit/government). I lived in a trailer in a rough park and made it work for a couple years. + +I got promoted at work after college graduation and made a real salary, roughly 25,000 a year. So wife and I found an off market property and bought a 2400 sq ft ranch home on a liar loan that was mostly converted to a duplex. I finished the conversion and rented out the basement and lived in the top before house hacking was a term. This was probably late 2003 to early 2004. I could not have afforded the house on my salary alone. Wife didn’t work too much. Mostly minimum wage, part time plus business book keeping. + +The economy was booming and my side business was doing well. We did custom woodworking for high end homes. Most of my customers were outfitting cabins and vacation homes and paid in cash in advance. My parents had purchased a commercial piece of bare ground in the 80s for 10K only to find out it was zoned wrong, not subdivided and generally not easily built on. I needed to expand the side hustle so I decided to try to build on it. + +I went to the city planning department and they held my hand through creating a subdivision (with 1 lot), getting it zoned and figuring out what I could build. I hired a GC to build the shell and he generously stayed on as GC on paper while I hired subs and did a bunch of work myself. The city inspectors were very kind and helped me avoid pitfalls by answering calls from this random kid who had no business doing this project. I ended up with a 3000sq ft commercial shop and just $55,000 in debt. My parents held the land under it and I paid them modest rent and covered taxes and liability. + +2007 rolled around and the building was mostly paid off. But business took a weird turn. Clients started inquiring about making payments, taking credit cards, leasing fixtures etc. I took a long look at the total economy and decided my business was on the margin where it would fail in a downturn. I also suffered a serious health crisis that no longer allowed me to be hands on in the business that was very manual. I couldn’t even supervise much and productivity plummeted. Fortunately, another local business toured the facility to make a copy of it and instead I convinced them to take over my building in a lease to own situation. They moved in with a hefty down payment that paid off the building. But unfortunately for them the economy crashed and they couldn’t get financed within their contract period. I kept their deposit and they just paid rent for 5 years. I shuttered my business before it started taking losses. + +I got divorced and that was a big reset button financially. Since she didn’t work much she kept the house so she would have somewhere to live that basically only cost utilities. My kids would have a stable home. The dogs could stay. In exchange I kept 100% of my pension, my interest in the commercial building, my clothes and my truck. She got literally everything else. All the cash, the house, 2 cars, furniture, appliances, investments, and 100% of her family business. She got the short term stuff, I got the long term stuff. + +Child support was now a big financial drive for me and the obvious move was to house hack, again. I had rented a few cheap places but I needed to lower my cost of living and simultaneously have somewhere nice enough to raise kids. So in my 30’s I moved back into my parents’ basement to save money and start over. My salary was probably mid to high 30’s. After basic living expenses, child support payments and taxes I was pretty tapped out. Yes, I did pull my financial weight at my parents. + +It was 2012 and I felt I had limited options, short of a career change. I ended up building a big spreadsheet of all the local HUD houses and essentially gamifying the auction system. I figured out pricing, price drops and how they accepted offers at each stage. I developed a rough formula for buying at the right time with the right offer and snatched a 3000sq ft ranch home that had been a duplex for 75K. My agent was shocked. It had started at 120K. This is no longer possible as the houses get snatched up at 95% of value. Post 2010 was a magical 5 years. + +It was ugly inside. It had water damage, mold, foundation issues, access issues and code violations galore. I had to re-pour floors, Jack it up and build a new load bearing wall, gut everything. I spent 2+ years and 50K fixing it up completely. Brand new everything from wiring to plumbing, doors and windows, floors and drawers. I had been doing 100% of the work but I did bring in a contractor to finish the basement because it just took too long alone. I rented out the top and was about to move into the basement when my newish GF suggested I already spent so much time at her house maybe I should just move in rather than move again in 6 months. She would probably dispute the tone of that conversation. But I stand by my version. + +I moved in and started splitting expenses with her while I refinanced the duplex into a 10 year loan including all rehab that I couldn’t afford out of pocket. My plan was to have a couple properties and supplement my pension with rentals and get out at 55. I also wanted the duplex to pay off as my daughter hit college. I called it her college fund. She could have the rents for 4 years. So I was into it 75+ 50 = 125ish. Current rents are 1450. 6 years left on the note. Current value is…200? It is probably more valuable when sold as a single family in the current market, luckily I planned for that and the build accommodates re-conversion easily. + +The new GF thought that the duplex thing was pretty cool. She saw my rent checks come in and had always had an interest in rentals but never had the finances or knowledge to get into them- like a lot of people. So we decided to partner up. We would use her immaculate credit, our combined savings, my skills and her organization to buy a couple rentals. My debt to income ratio wasn’t shot but my payment was big and my salary was modest. She had a low payment and high salary, she was a prime borrower. + +We shopped with a realtor but it took a while to pull the trigger on a turnkey duplex. We found a portfolio lender who would do 10% down and low reserve requirements. In June 2016 we bought a decent turnkey duplex for 125k. It rented for 1150. We put it on a 15 year note and it barely cash flowed. I think after water it was actually $50 negative. But we weren’t in it for cash flow we were targeting retirement at 45 and 50 respectively. After a few upgrades rents are 1300ish. We are into it 130k. + +The target was buying 1-2 per year for 5-10 years and retire at 50-55 on rental income. The math said we needed 12 doors to entirely support our expected retirement budget, while somewhat leveraged, based on the average of 2/1 units in our area. I wanted 17 because….I want a cabin some day. + +We continued to write offers and just barely miss out, mostly because of late offers on hot properties. We had the only realtor in the world who kept tanking our offers by encouraging us to offer less money. Properties at the time were finally climbing out of the 2008 hole and owners who had been underwater for years were selling. Many agents don’t understand rental formulas and were just pricing like a SFH based on sq footage and location. This led to some bonkers pricing for investors where there were bargains and dogs. We were routinely prepared to offer 10K+ over on a mispriced rental and our agent just hated that. We missed some very good deals that were priced incorrectly. + +We started going directly to listing agents and offering. Then one day we had 2 accepted at the same time. The GF had a panic attack but we did the math and we could afford them both, barely. They both cash flowed and we got bank approval. They both needed some work and with that forced appreciation we would be in a decent equity position quickly. + +After this the GF decided to get licensed. The commissions off of 1-2 sales per year would more than cover the costs and more importantly we would have speed on our side. Then a weird thing happened. The MLS kind of dried up. The pricing smoothed out and things all hit just below the 1% rule. Then a little worse. Then a little worse. Outside investor money flooded our market and it got very competitive. We kicked ourselves for missing out on a year of fantastic random pricing. 1.5% deals had slipped away. We were still on track for a 10 year plan though, so no problem. + +By this time our combined income had risen to around 130K, mostly due to the GF making good money at her healthcare job. We planned to keep acquiring properties that didn’t really cash flow but would cover their costs and pay off somewhat quickly, typically 15 years. Then we started to find more off market deals. + +I bought a house at a yard sale by asking “is the house sold yet?”. It was not sold. It had been vacant since 1985. The family had inherited multiple houses and had been updating them and selling them but they were out of gas. It was zoned to be converted to a triplex. We paid cash, private money. I spent a year converting it and now it is a very nice duplex by the university. Ultimately it was too small to triplex it and there were some variance issues but we worked through them. 75k purchase. 40k rehab and convert. Appraised for 175. Refinanced 120 back out. Rents are 1250. + +Then I bought a second SFH that was in foreclosure through a family lead and flipped it. Bought 125 sold after 62 days for 165, put $3000 and 3 weekends into it. It really just needed cleaned and painted. In the basement we removed a couple walls that made no sense and it became quite nice. + +Then another yard sale. It took almost a month to actually get with the owner. She named a fair price and we literally faxed her paperwork from a public library while we were driving through a small town on family vacation. It was a bit of a beater house. No functioning bath, smelled like cats, junk everywhere but it was on an acre zoned for high density multifamily and apartments were being platted around it. I took 3 months to clean it and convert it to a rental unit. We are going to sit on it and consider building at some point. It barely cash flows. Bought for 120. Put 5k into rehab. Residential Appraises for 180. Had an offer from a developer for 200 but I’m not at long term cap gains yet. Rents for 1150. + +Then we bought a duplex with owner financing from a ‘for sale’ sign the GF saw while out on a run. It is on a 20 year note at 4% fixed, no fees. We are into it 125k and it rents for 1250. I think we have $10,000 cash in the deal total with rehab. The 20 year note limits cash flow somewhat. + +Along the way the GF really started to do well as an agent. Friends and family were starting to use her. Colleagues used her. People realized she was investor friendly and starting investing with her since she could actually run realistic numbers. She is a straight shooter in a market full of shady characters. Listing after listing rolled in. We started to leave units empty in case buyers got in trouble between houses. We started letting tenants break leases in order to buy. We started marketing specifically to people who needed 6 months to a year to repair credit before buying. We would set them up with a banker who could optimize their recovery then they would buy. Bankers loved it and started to refer to her more. + +In 2019 we looked back and realized non-rental real estate income was some integer multiple of our salaries. She planned to leave her job to become a full time agent and property manager. Just before she left we got a call to buy 3 quad plexes in our target area. Ironically they were agent owned but again, kind of priced funny. She used her income to qualify for those before quitting. Now she has 2 years of agent income on taxes selling 30+ properties a year. No W2 necessary. Quads were renting for 450-600 per unit, probably 500 average. Purchased for 260 x 3. The numbers make no sense until we raised rents to 600-675. All will hit 650 minimum by December 2020. The location, decent condition and economies of scale in having fewer roofs, yards, driveways and water mains per unit make this our best work:dollar ratio property. Appraisals were north of 300 each. + +We reevaluated our strategy. If the deals in the pipeline were on 30 year notes we could cash flow enough to cover our living expenses, right away, not in 15 years. The new stuff went on 30 year notes and the cash flow went way up. The old 15 year notes would still pay off and boost income significantly right as we plan to cut back on work. The 30 year notes would help us get to the 15 year mark while dealing with ups and down in commissions. It was game on for retirement acceleration and portfolio expansion. We still have the option to pay things off aggressively, but for now we are building back up our reserves after a buying spree. + +2 weeks ago another investor called looking to sell his 6 unit portfolio for cash within 10 days. Do we know anyone? The price was right. We closed Friday. All private money short term that we will refi if we don’t resell in 6 months. It is likely we will sell 4 of the units at market rates to essentially subsidize the last one into a mega cash flowing asset. It also has a value add basement that I started working on yesterday. If I finish in 6 months if will refi nicely. 90k purchase. 30K rehab. 200K retail. Rents of 1700. + +Yesterday I got an offer on the most recent flip we listed as well. Although that money is earmarked for taxes. This flip was purchased through door knocking when I noticed a truck moving furniture out of a house on a pre-foreclosure property. 102 purchase. 15 rehab 10 financing and holding. 160 net after closing. We patched, painted, basic landcape, bathroom fixtures, kitchen cabinets and backsplash, new appliances, some electrical upgrades. + +So here I sit typing this up. What does the future hold in real estate? I’m not the r/accidentalfire guy who makes 60% annual returns. I find or create 1% deals in my home market. They cash flow modestly but we have expanded to flip income, agent income, rental management and doing my own contracting work. I don’t feel like I found the magic formula. I feel like I use the basic formulas and went big at the right time. We leveraged hard and took more than a few leaps of faith. There were times we were essentially out of money and probably shouldn’t have gone deeper, but we found more money and went deeper. People around us have seen what we have done in relatively short order and that has snowballed into more success. + +The portfolio today is 2.5millon give or take. Debt is 1.5 give or take. Notes are staggered with 6-30 years remaining. True cash flow after vacancy, capex, repairs but NOT management is 3500 a month. It will hit 5000 temporarily while we have short term interest only loans out. After the upcoming sell off we will drop to 2.0 portfolio and 1.0 debt. That is the amount of leverage I am comfortable with right now. + +Next we will use the total portfolio income to build up a cash war chest. I am exploring a commercial line of credit so we can stop using hard money to flip, which is our single biggest expense until the war chest is big enough. If the market cycles down we will go on another spending spree. If it continues to go up, we have enough to be totally happy. My own personal hedge fund. + +Side note: being a partner with your significant other is a real strain at times. I can’t suggest it to anyone. The business strain comes home every day. But, if she is a rock star it might be worth it. At this point I am a glorified handyman and door knocker. She keeps things moving and brings in the cash. +For the more experienced folks. + +When tenant is late on rent, how long have you guys waited to start the eviction process. + +Have a tenant who has tons of money but has implied in the past few weeks that he’s not going to pay because he’s separating with his wife who is there. + +All parties have essentially stopped talking to me. He is 3 days late +According to [https://www.lexology.com/library/detail.aspx?g=06758146-7d71-4ead-a153-383afae6e988](https://www.lexology.com/library/detail.aspx?g=06758146-7d71-4ead-a153-383afae6e988); + +https://preview.redd.it/3vtgcl79ixd91.png?width=1518&format=png&auto=webp&s=cd50edd767a7cf75f79a7aa5109e350300813786 + +Deleted reports: [https://www.sec.gov/advocate/investor-advocate-reports.html](https://www.sec.gov/advocate/investor-advocate-reports.html) (corrected; see Edit2) + +edit: links appear to be there but upon clicking on them you'll get a 404 error. + +Here is a wayback link with the working links: [https://web.archive.org/web/20220414211517/https://www.sec.gov/advocate/investor-advocate-reports.html](https://web.archive.org/web/20220414211517/https://www.sec.gov/advocate/investor-advocate-reports.html) + +New Head of Retail: [https://www.linkedin.com/in/marc-oorloff-sharma-b547034/](https://www.linkedin.com/in/marc-oorloff-sharma-b547034/) + +Edit 2: good morning from California. This blew up, huh? Thanks to u/pratolina for finding the reports are still online when using a different path on the website; [About->Reports and Publications->Filter by Investor Advocate](https://www.sec.gov/reports?aId=edit-tid&year=All&field_article_sub_type_secart_value=All&tid=49) + +Edit3: a few people are asking for an AMA with Rick Fleming (the guy who left). This is up to the mods to decide. However, I’m personally indifferent about it. We know the system is broken and buy, hold, DRS is the best way to take this company out of the corrupted system. An AMA is unlikely to shed more light on it IMO, they’re all in on it… I would rather ask the new guy how he would improve the situation and eliminate dark pools and PFOF. Probably also a drop on a hot stone though. + +Edit4: [in his last report](https://www.sec.gov/files/sec-office-investor-advocate-report-objectives-fy2023.pdf) Fleming states that ‘he is stepping down’ (page 1). So I guess my title may be misleading, although people are forced to step down often enough. We might never know what was really going on unless a FOIA request could bring some insight. + +Edit5: I skimmed through the 2 latest reports and wrote some quick overview before work started: [https://www.reddit.com/r/Superstonk/comments/w8lv31/sec\_investor\_advocate\_head\_of\_retail\_a\_quick/](https://www.reddit.com/r/Superstonk/comments/w8lv31/sec_investor_advocate_head_of_retail_a_quick/) I appreciate everyone with a bit more time and brain to read and educate yourself and others by sharing your thoughts. + +Anyways. SEC is complicit until they’re not. + +BUY HOLD DRS + +Interesting times indeed! +Hey fatFIRE fam, + +Wondering if anyone else has achieved fatFIRE leaving their current company and just cloning/improving upon what their employer does. + +I have great pay but no equity. I have helped build this company into something that is currently printing money. I think I could peel off a decent number of accounts and have cash on hand to survive and finance operations for awhile. + +If anyone has gone this route I would love to know your journey. What had you wished you had known beforehand, etc. + +I have consulted with one attorney so far and have a laid a little bit of groundwork for making my exit and cloning my current employer. + +Also if you have been on the other side of this I’d like to know how you have dealt with it. + +Thx! + +Update 1. +No non-compete clause whatsoever + +Update 2. +Wow what a great community. I am really touched by the outpouring of insight and comments. I am trying to read in real-time and respond. Wish I could share more info. Thx again everyone. + +Update 3. +I am blown away by the generosity of spirit and for all of the thoughtful, insightful, and helpful comments. Thanks so much to everyone for words of caution, words of encouragement, not to mention the practical advice. This is without a doubt the nicest forum I have interacted with and I just have to say what a nice community! Hope I can give back a little bit. +[MOASS the Trilogy: Book One](https://www.reddit.com/r/Superstonk/comments/qvyjap/moass_the_trilogy_book_one/) + +[MOASS the Trilogy: Book Three](https://www.reddit.com/r/Superstonk/comments/qzcag6/moass_the_trilogy_book_three/) + +This is where it all starts to get a bit complex, I will do my best to walk you all through every step of this to make it easily understandable. + +I held off publishing this, particularly because of this section, for a while due to the complexity of some of the mechanics at play here. + +But after a year of hodling and learning I think most will grasp the importance of this... + +I truly believe, in no uncertain terms, that the mechanics outlined here present the best chance of a short squeeze on GME occurring. + +As do many others u/criand, u/leenixus, u/turdfurg23, u/Zinko83, and the people on my quant team who choose to remain anonymous. + +We may not all agree on some minute details. However, I think the past few days have shown that we agree that the fear of options and misinformation about them needs to be laid to rest. + +In the next two sections of this DD I will outline the mechanics and reasoning, and provide as much information as I can on the ideal points where retail is capable of applying the most pressure. + +As always I will be glad to answer any question on my livestream chat or as I can get to them on reddit. + +Edit 1\* I already see a false narrative being spun and want to get out ahead of it, I in no way am encouraging apes to buy weeklies, or lose their ass on far OTM the money contracts. This has happened too many times in the past and is the reason for much of the current sentiment around options. There are solid safe strategies and also riskier opportunities available if these cycles outlined in the first part of this DD play out. I intend to highlight some of those in the next part of this DD. If you don't know how to play options...Buy and Hold and now DRS are a large part of why these cycles are even present and can be tracked. But regardless of participation in options this research is meant to inform not instruct. + +Continued from Book one... + +&#x200B; + +# Part III: If January is so great, why did the price fall, huh pickle? + +Well the simple answer is, people sold. + +People realized massive gains and then paper-handed like crazy on the upswing, the rest realized massive losses on the downside and sold.  + +Not HF fuckery, not even the buy button getting turned off, just good old panic selling.  + +Sure some held, some didn't get out in time, and shit some were still buying on the way down. + +I'm not denying the existence of diamond handed apes but they were young, inexperienced, and not  + +yet prepared for the fuckery that would later reveal itself. + +What did they sell?  + +# They sold their options + +The SEC gave us the proof + +[ Call volume significantly higher than put volume ](https://preview.redd.it/9kdewsk6la081.png?width=1064&format=png&auto=webp&s=c7c126f8c7be2395ac5596bb09165cc9da15b6ff) + +[ Median increase in options volume of 437&#37; over the previous quarter ](https://preview.redd.it/2kcf1p7bla081.png?width=1148&format=png&auto=webp&s=2cc48cc4ef25b29e73622aadbabe1f37531b2df4) + +Every cheap single 3-2-1-0 DTE weekly, they sold their leaps, their monthlies, their quarterlies.  + +GME holders paper-handed ever single fucking one of them and why? + +**Cause you don't diamond hand options...** + +they are meant to capture profits on a move in the underlying equity.  + +When all those weeklies expired and were sold, what happened? + +The price tanked. From $483 to a low of $51 5 days later. + +[Hmm...a Friday options expire on Friday.  ](https://preview.redd.it/eul1afio8h081.png?width=1617&format=png&auto=webp&s=06e65866edf29d64918fdfbc65dd90a8f3cf1cf1) + +again, and again... + +[June is slightly deviated as the ATM offering of 5m shares provided ample liquidity](https://preview.redd.it/fsqxt7ppth081.png?width=1613&format=png&auto=webp&s=504dcca849a8db46fed356b7c3c5d17f7a1f28d6) + +Time after time retail sold their calls and they were able to bring the price down. + +&#x200B; + +Maybe we won't make the same mistake again. + +&#x200B; + +**Section 2: Delta Hedging** + +So to explain what happened here I will lay out delta hedging for you as clearly as I can. + +[ ](https://preview.redd.it/noffzc07ta081.png?width=1279&format=png&auto=webp&s=4e5ed8f0362225b59f77fdbc3c57db0bacb0383c) + +[ ](https://preview.redd.it/ltf3njnuxa081.png?width=1642&format=png&auto=webp&s=f219f1496d2cca1a7697d98faca872579aaa08c4) + +However on GME due to the massive retail ownership (via the options chain) in January, there was no liquidity in the market to hedge with shares, so instead they internalized the losses from the call contracts they wrote. Using their **massive** margin as leverage against, the delta they should have properly hedged. + +https://preview.redd.it/qe8ghxf1za081.png?width=1106&format=png&auto=webp&s=aa85f9283ee7e787f1b1988eeceb27591a1fe046 + +[ Staff Report on Equity and Options Market Structure Conditions in Early 2021 ](https://preview.redd.it/0edlly47za081.png?width=1227&format=png&auto=webp&s=132f6b1467e5bf6ebabe3854a77d84f6ce9bf3d0) + +This leads to Gamma Exposure since they did not properly hedge they now have their standard settlement period (T+2) to purchase shares to satisfy any exercised contracts. + +Once they are able to become gamma neutral again following the settlement period they can start buying puts with high delta to drive the price down. + +&#x200B; + +***Okay, now back to how this dropped the price in January.***  + +Since retail was selling out of their options which were squeezing the MMs Delta hedging, this selling of contracts allowed them to re-position and on January 27th they dumped an absolutely absurd amount of ITM puts onto the market + +[not a \\"gamma squeeze\\", retail buying cheap calls and MM buying expensive puts on the 27th](https://preview.redd.it/48tde8rc1b081.png?width=1116&format=png&auto=webp&s=37ee54de25f6b1687aa7ce5055147c031153c763) + +This statement from the SEC indicates that they price action we did see was simply the **ramp** since the contracts were sold off on Friday and cash settled there was little exposure to cover. + +Hence, no "gamma squeeze" + +Thursday, January 28^(th), they shut off the buy button. + +Friday, January 29th, The last significant chunk of retail options sold out. + +**GME options holders allowed them to cash-settle their contracts by selling out of them. ?Meaning, they could just use the losses they had internalized to satisfy their improper hedging.** + +This allowed them to sell off the massive numbers of shares they actually bought to hedge and simultaneously drive profits into their put contracts. + +&#x200B; + +[The exposure to calls on January 22nd and 29th, hedged at 1.00 delta represents a necessary hedge of 120 million shares.](https://preview.redd.it/z1u2gpn6zh081.png?width=1343&format=png&auto=webp&s=1991eee6f21980fa62062019048e82b84908ec89) + +👆 let this sink in, and one more time...okay LFG + +Why? + +Why not hold for the moon? + +Most of the contracts people FOMO'd into expired on January 29th, jumping into cheap OTM weeklies meant people weren't exercising them, they were taking their profits. As they have continued to to do on every huge run since. + +&#x200B; + + Well except this guy, apparently knew what he was doing, he sold some, sure... + +https://preview.redd.it/xp75u27o2b081.png?width=1215&format=png&auto=webp&s=9448cf367690fb89b2b01dc488ed5eaf504caa3d + +https://preview.redd.it/9d5qyigr2b081.png?width=1208&format=png&auto=webp&s=53b6d5fbeb41448a2f830ac6a681954c7df46d88 + +But he exercised a lot... + +Why is this important? + +Different time and place, right? + +**No, same mechanics that were true then are true now.** + +Sure options are more expensive but so is GME. + +**After the options expire if the call writers haven't properly hedged the contracts they wrote then, if contracts are exercised they need to go find the remaining shares at market.** + +# They have T+2 or they are forced to buy in. + +# !Forced! + +**No FTDs, no marking long, and no can kicking.** + +A **contractual obligation** to be provided 100 shares, immediately at the strike. + +So if they have not hedged, they now need to buy shares at current market price suffering not only the loss on the contract but also the price per share loss if the price is significantly higher by the time they settle. + +At this point I think it's pretty common knowledge that we own the float. + +# So "hypothetically" speaking, if a MM were to need to buy 100 shares to satisfy an exercise they would need to buy them from us, and we are not selling... + +https://preview.redd.it/sp3s3uqevh081.jpg?width=620&format=pjpg&auto=webp&s=cfaf560426970a0a30a03b39086e655d234a19a7 + +So what Daddy Gensler really did in his report is give retail the keys to MOASS... + +In the data provided in the SEC report, not only does it tell us exactly how we didn't MOASS, they also give us **the exact mechanism** which we need to assure their destruction... all we ever had to do was get off our asses and + +# Exercise + +That's right just like DFV... + +https://preview.redd.it/bkolynem4i081.png?width=708&format=png&auto=webp&s=2b5b54399b1fe2746fc9042796bc64ff9a09496d + +Because **leveraged retail is the largest hedge fund in the world**, one contract per Superstonk user would represent 68,900,000 shares + +&#x200B; + +**and if we exercised those contracts...** + +https://preview.redd.it/mevki6qwhi081.png?width=1170&format=png&auto=webp&s=55e9cc885c6c2dc3cca3f30ce3a078d96b14bb8e + +&#x200B; + +**STAYED TUNED FOR THE STUNNING CONCLUSION IN BOOK III: COMING SOON!** + +&#x200B; + +In the meantime a lot of it is covered here ... [talk with Houston Wade here explaining my current theory](https://www.youtube.com/watch?v=mntHdNqltkw) + +For more information on my theory and options please check out the [stream clips on my YouTube channel](https://www.youtube.com/c/PickleFinancial/playlists). + +Daily Live charting (always under my profile [u/gherkinit](https://www.reddit.com/u/gherkinit/)) from 8:45am - 4pm EDT on trading days + +on my [YouTube Live Stream](https://www.youtube.com/c/PickleFinancial) from 9am - 4pm EDT on trading days + +or check out the [Discord](https://discord.gg/BGmjnrvHnw) for more stuff with fellow apes + +**As always thanks for following along.** + +🦍❤️ + +\- Gherkinit + +**Disclaimer** + +*\* Although my profession is day trading, I in no way endorse day-trading of GME not only does it present significant risk, it can delay the squeeze. If you are one of the people that use this information to day trade this stock, I hope you sell at resistance then it turns around and gaps up to $500.* 😁 + +*\*Options present a great deal of risk to the experienced and inexperienced investors alike, please understand the risk and mechanics of options before considering them as a way to leverage your position.* + +***\*My YouTube channel is "monetized" if that is something you are uncomfortable with, I understand, while I wouldn't say I profit greatly from the views, I do suggest you use ad-block when viewing it if you feel so compelled.*** ***My intention is simply benefit this community. For those that find value in and want to reward my work, I thank you. For those that do not I encourage you to enjoy the content. As always this information is intended to be free to everyone.*** + +\**This is not Financial advice. The ideas and opinions expressed here are for educational and entertainment purposes only.* + +\* *No position is worth your life and debt can always be repaid. Please if you need help reach out this community is here for you. Also the NSPL Phone: 800-273-8255 Hours: Available 24 hours. Languages: English, Spanish.* [*Learn more*](https://suicidepreventionlifeline.org/) +My son was born in Indiana but we quickly discovered he was having issues breathing on his own. He was air lifted 2 hours away to Indianapolis where he spent 2 nights in NICU connected to ECMO. We discovered he never fully developed blood vessels to carry blood to/from his lungs and heart. + +He passed away 3 months ago and we recently received the bills. My GF was on Medicaid for pregnant women which covered $5,000 but the remaining balance is $208,000 + $50,000 for helicopter transport. The minimum payments are about $250/mo. We both work full-time but we'd never be able to pay it in our lifetime. + +Our situation seems bleak so just asking if we have any other options? + +Thank you guys. Much love to everyone. + +My phone won't stop vibrating and this is making me emotional right now. I showed my GF all of your replies and we will sit down tonight to sift through this together. + +You're all amazing and we appreciate you so much. I'll answer questions and post updates as I'm able to. + +Thank you again ❤️ +I'm 54 and a public company exec. I've been with Fidelity for 15 years and have over 11 accounts there. Their work in the past 24 hours, especially the absolute failure to engage with transparency in their own subreddit and through their CS accounts like /u/fidelityinvestments as they are deleting any posts that aren't positive or asks questions about transparency. They are also removing opinion posts they disagree with under their vague Rule #8 - I posted a note pointing out that they weren't using single user for all replies, but had individual customer support agent accounts with identifiable names and wondered if this direct account model would expose the reps to SEC action if it's found that their actions in the subreddit rise to manipulation. + +So, do like me and move everything away and DRS everything you can. It's clear that they are willing to trash their brand to prevent any real exposure to their practices. +I had recently graduated and I’ve been saving up all my money while living at home. I decided that investing into Real Estate early would be a great way to build some side income and hopefully retire early down the road. I did some research and started the journey. + +First the numbers if you don’t care about the story/process. + +* House: 4 bed, 2 bath, 2 kitchens, 2 living rooms (house with an attached in-law suite) +* Purchase Price: 185k +* Interest rate: 5% +* Down payment: 37k (20%) +* Loan Costs (inc 1.5% points) : $5472 +* Other costs (Taxes, Prepaids, Insurance): $4369 +* Total Cash to Close: $46,800 +* Renovation Costs: $9,700 +* **All in: $56,500** + +~ + + +* P&I: $800 +* Taxes: $550 +* Insurance: $110 +* Total Monthly Payment: $1460 +* ~Maint: $150 +* ~Cap Ex: $200 +* Total Monthly Expenses: $1810 +* Total Rent: $2650 +* **Monthly Cash flow: $840** + +I first started with Zillow’s data, I took their average renting price by city and divided by the average listing price of the houses in NY, PA, NJ. Unsurprisingly the top of the list was filled with D- places where you can buy a house for nothing. A bit lower on the list was a college town where the prices of the house haven’t risen with the increased rent paid by the students. + +I reached out to a local Realtor and told him what I was looking for while I set my Zillow alert. After a few dead ends on promising houses I finally decided to check out a 1500 sq ft family owned 3 bed 1 bath with attached in law suite that was on Zillow for like 40 days. I figured nothing sits on Zillow for over a month if it’s worth anything but the numbers all checked out. + +It was filthy and filled with junk but it had good bones, a decent location, 4 beds, 2 baths, 2 kitchens, 2 living rooms, and a large detached garage. The perfect set up for a college rental. It was listed for $199,999, I put my offer in at $175k and they ‘split the difference’ at my target price, $185k. I’ll spare the details on the 9 month buying process that took lawyers and hundreds of emails and phone calls, but I eventually got the house. + +Here’s the before pictures: https://imgur.com/a/nfMDZF5 + +I needed to completely renovate it in approximately 3 weeks as school was starting. This included: + +* 2 Tub Installation including new plumbing: $1600 +* Tiling 2 Showers (100 ft2) & 1 Floor (35 ft2): $1200 +* Hardwood Refinishing (615 ft2): $1840 +* Laminate Installation (540 ft2): $720 +* Subfloor Repair: $200 +* Sink drain and oven installation: $200 +* Rental application for town: $160 +* HVAC Cert: $225 +* Seller's failed inspection credit: -$1625 +* All Materials/items: $5158.5 +* **TOTAL Renovation Costs: $9678.5** + +It took a lot of help from my friends, family, and girlfriend (and contractors) but we somehow pulled it together. + +After pictures: https://imgur.com/a/rx6xoN7 + +To find renters I posted it on all the standard places and was contacted by a local recent graduate that helps fills rooms for 65% of first month’s rent (way cheaper than the standard full first months rent). I used his help and the online postings to fill all the rooms at a slight discounted rent (for this year only). Next school year I’ll have many more months to find tenants so I won’t have any problem getting full rent. + +The rent breakdown: + +* In law suite: $800 +* Each bedroom in the house: $550 x 3 +* Detached garage for self storage: $200 +* **Total Rent: $2650** + +The school is also growing very quickly and getting a ton of money, as well as the surrounding area, so I think this house will appreciate very nicely as well. As this was my first deal I’m not sure if I did everything perfectly or if I made a few rookie mistakes, feel free to comment on anything you see as extra ordinary. Thanks for reading this novel, I hope it inspires someone to take the leap! +I'm really trying to understand why people like dividends so much? Profitable companies can re-invest that money in their business, acquire new businesses, buyback shares, paydown debt, or issue dividends. + +People talk about using dividends for income. If I need income, I can simply sell some shares. If I don't need income, I can leave my shares as is and not trigger a capital gain. + +I'm curious to hear why people here like their dividends so much? +Pretty much what the title says. I just moved into West Houston area and bought a brand new house as primary but so far the change and the city has not been good for us so we have been thinking on the possibility to move back to our previous town in a year or so if things don't change and we can't get used to this new life. +I would like to keep this house as investment if possible and rent it. Depending on the house but rents in the neighborhood are in the range of $2. 3k - $3.3k/month. I would need to rent my house around $2.6k to barely cover mortgage, and scrow expenses. I see currently houses like mine are renting on the $3k line so maybe there is a chance. + +So like my question says, there are much bigger and better houses by this area that are posted at $4k, $5k, $6k and even more, do these houses get actually rented at that price? That seems pretty expensive to me honestly and can't see people paying that much for rent, so just want to get opinion from the experts. + +Thanks. +Every once in a while I have a feeling, sensing a rush of unstoppable energy. The feeling you get when lightning strikes five feet away from you, except more exhilarating and impossibly attractive. These moments--these sudden, quick explosions of energy that change the world--are rare but once you see it you want to grab it with every ounce of energy you have. + +Anyways, anon, I want to talk to you about $PINKPANDA. I’m a community member and am quite devoted--but not as devoted as other community members, who’ve even gotten PinkPanda tattoos. + +It’s really quite simple: (1) the PinkPanda dev team is insane, releasing their mobile app (Robinhood but for crypto) for both iOS and Android after only a week of development and then releasing weekly updates. V2 of the mobile app and website will be coming in a couple weeks and it’ll blow everyone out of the way. (2) The PinkPanda community is insane, constantly raiding and shilling and writing posts like these. Because we want you to join us, anon. + +Wondering what else is in store? Well, there’s VC investment coming, and the dev team doubles in size every couple weeks, and massive influencers like Tyler Hill and Steven Clarke are planning videos on PinkPanda. In 6 months, you will either thank me wholeheartedly for writing this post, or curse yourself for not listening to the rush of energy you’re feeling right now. + +Because when you feel the energy, anon, it’s time to grab it. + +💬 TG: https://t.me/PinkPandaDefi + +🌐 Website: https://pinkpanda.finance + +🚀 Contract: 0x631e1e455019c359b939fe214edc761d36bf6ad6 + +🚀 Buy: https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x631e1e455019c359b939fe214edc761d36bf6ad6 +A lot of my story is in my post and comment history, but the gist of it is, my mom passed away from cancer/liver disease in January, and left a mess for my father financially. She told him she had over 100k at Merrill Lynch, but it is nowhere to be found. We have found nothing so far to suggest it's anywhere. All my dad has right now is an IRA with over 50k. Our lawyer is going through and looking at institutions in our town to see if she has anything at each place, but he is taking months. + +I don't really know what to ask other than what could I be doing here to help? My dad is planning on refinancing the house and using equity to pay off debts that she had. She had two maxed out credit cards (one with 19k on it, and one with 4k, but the latter got paid off thanks to me), and a home equity loan (25k), which says to me she probably wasn't spending money wisely. We had no idea about the credit card with 19k for a balance. + +It just doesn't add up, though. there's nothing to show for over 100k being spent, and my dad made over 80k at his job for years. I just can't believe she spent all of it. There's nothing to show for it. It's crazy. My mom worked at a bank for over a decade, and was in a high ranking position, so she knew how finances worked. She did our tax returns the final year she was alive. It would be so not like her to blow through six figures, and on what? + +Merrill Lynch said her account closed in 2016. I swear I remember her saying she had something at Edward Jones, but we're waiting for the lawyer to find that. + +EDIT: I should probably mention that the credit card I paid off was connected to my dad (Chase told us this themselves), as I had to enter his social security number to access it. The other credit card he is not attached to at all legally, and so we haven't paid it. +I hate paying for parking even if it's $2.00 I would just rather walk a few more minutes and find free parking. + +Also I hate the idea of vallet parking. I am happy parking my own car. + +I have a max cap of $50.00 for an item of clothing. I could buy brand names but I don't care. Some cheap stuff has actually lasted me for years and it still looks ok despite thinking it would be the opposite. + +I am a woman and I'm in a business where looks are important but I think spending money on getting your nails done is a total waste. + + I have gotten my nails done a couple of times in my life and I would just sit there bored out of my mind until they would finish. Some women think that's pampering I think it's more like torture. +They would chip a week later forcing you to go in and cough another $50.00. +I don't understand how some women that make very little spend this on a weekly basis. + +Also I don't think most men really care about nails as long as they are kept clean and trimmed but I'm not a guy so who knows. I could have been missing out on so many dates because of my boring nails. 😮 😁 + + +I also don't buy imported groceries/produce unless I really have to and stick to local stuff which is 3 times cheaper or more where I live. + +However I will splurge on restaurants and booze and don't feel bad trying the most expensive restaurant in town. (Although I won't do it regularly and enjoy the hole in the wall spots just as much) + +I also spend on travel and rent nicer places and would stay in nicer hotels because my free time is sacred and I want to feel as comfortable as I can when I take time off. +Apologies for the longish post. + +Japan currently has run what feels like permanent deficits every year. It also, unusually, has had seemingly permanently low inflation. It's debt to gdp is enormous. + +Now historically, countries with these conditions usually end up in bad shape and have two choices. The reasons why amount to this: in order to sustain the country it's debt needs to be rolled over. But bondholders fear that the debt will not be paid in full either because the country is insolvent or unlikely to grow enough to pay it. + +So they can either default and suffer a deep economic recession, slash Federal expenditures, and raise taxes. + +Or they can have their Central Bank print the money, which causes inflation. + +Both of these options leave the country in shambles. + +Now we get to Japan. The fact that neither of these have happened suggests people do believe over time the debt will be paid back. That part isn't the mystery. + +If we consider the mechanisms of Japan's fiscal imbalances, if their entire debt was being funded by bondholders, then there need not be inflation because that deficit is made up by actual funds held by the public. + +However, this appears not the case. I read that about half of deficit is being purchased by the central bank. + +This is where things get really puzzling. That extra cash ends up funneling into consumers at some point. A lot of it's going in the form of social security and medical care. Don't those people spend the money on services and goods? And if it's not coming out of the wallets of the people themselves but out of thin air, why hasn't inflation occurred? Functionally, though not necessarily in magnitude, is this any different than the Weimar Republic? + +The only explanation I can come up and one I don't think is true is that in lockstep with the central bank purchasing these bonds, the citizens have been decreasing their consumption patterns and increasing savings, basically all of that newly printed money is going into everything that doesn't show up in the price level calculations. Probably just as reserves in the bank. But why? + +Does anyone have a better answer? +I work a factory job so I have a lot of time to listen to youtube. I'm wondering if anyone has any good listenable youtubers for learning about economics, and explanations of current economic events. + +Here's my current list if there's any critiques, or if you need something to gauge what I'm looking for: +Chris Norlund, EPB Research, Joe Blogs, KEVIN, Heresy Financial, Economics Explained. I had more but I purged a lot of the sensational/click-baity ones. + +I don't have much time to learn except at work so I'm specifically looking for things I can listen to. +Welcome to the Daily Discussion thread of /r/EthTrader. + +*** + +The thread guidelines are as follows: + +- All sub rules apply here so please review our **[rules page](https://www.reddit.com/r/ethtrader/about/rules/)** to become familiar with them. The rules page is also linked in the announcement bar above. +- This thread is meant to be more free and relaxed than the serious daily thread. Memes, lambos, moons are all welcome. +- If the front page gets overloaded with memes, all but the top two posted and voted on may be removed. Basically, please post memes inside this thread first and upvote the best so the mods know which ones to keep if we need to remove a bunch of memes from the front page. +- Important news worthy content is not permitted here and should be submitted as a separate post. + +*** + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Thank you in advance for your participation. Enjoy! + +In Bob Iger's book, the ride of a lifetime (great book by the way), I came across a famous quote by William Goldman: “In Hollywood, no one knows anything.” The quote is basically meant to say that no one can tell if a movie is going to be a hit or a complete bomb. + +I would rephrase this to - **In investing, no one knows anything**. + +This is a bit harsh and not entirely true of course, but my point is that even the great ones don't have a clue when a stock is close to bottoming out, when to buy or when to sell. + +Case in point: + +*Charlie Munger* \- Bought Alibaba at around 220$, started using leverage at around 120$ + +*Monish Pabrai* \- Bought Alibaba at around 220$, sold it, and bought Prosus somewhere between 65-75$ + +*Guy Spier* \- Bought Alibaba at around 220$, bought Prosus somewhere between 65-75$ + +*Bill Ackman* \- Bought Netflix at around 390$ + +*Seth Klarman* \- Large portfolio drop in almost all stocks as seen on DATAROMA + +To all of the above, I would also include *Li Lu* because Munger 100% consulted with him about Alibaba. + +If you look at DATAROMA, the most popular stock for the super investors (except for BRK) was Meta Platforms which is in free fall. + +Single stocks amount to approx. ¨10% of my portfolio. The rest are diversified ETFs. + +A decision I am happier and happier with. +Can you imagine an ETF or hedge fund run by our groups most powerful autists. + +No more pouring through pages of DD’s to load up on speccy’s, no need to refresh commsex every five minutes to buy the dip - finally a way of achieving guaranteed losses in record time. + +Does anyone have any nominations? +I understand that growth investing vs dividend investing are for people with slightly different goals. + +I see some individual companies like coca cola and microsoft have a good history of dividends and also growth so I understand investing in those. + +But for things like QYLD, JEPI, JAG, MAIN, and even DIVO, I would only look at those as something for people with less than 100k to invest because if you are investing more than 100k, you can compare these ETFs to purchasing an investment property which is likely to pay a similar amount per month in rental payments but also appreciate in value over time as well as expanding your portfolio into another sector. +Is it just about risk? being afraid of a natural disaster destroying your property or whatever? (which is a valid concern) +Throwaway account due to the sensitive mental health nature of this post - + +I was well on my journey to FatFIRE and made a decision about a year ago that at the time I thought it would be a good move but turns out to have just completely derailed me and am looking for some guidance and perspective on what to do. + +I was at a high-growth tech company for 5 years as one of the co-founders, taking them from zero to a PE exit and beyond. I cashed out a chunk of equity during this time as well. (\~1million worth). I was really enjoying my role building and leading the product teams, and probably only needed to stay on another 3-5 years to reach my goal of 5million NW to retire. In the back half of 2019 I had a really rough personal tragedy that just completely derailed me mentally (parent passed away). I fell into a really deep depression that I couldn't pull myself out of (yes I was going to therapy and such), and just couldn't continue with work. The job lost all meaning and enjoyment to me, just started questioning every day as I sat through meeting after meeting of "is this really how I want to live my life?". I thought about leaving for months and eventually decided to pull the trigger at the start of 2020. + +Fast forward to now: I'm still stuck in this depressive funk. I did have a nice year off living a bit of the retired life early and through a fair amount of counselling able to come to terms with what happened to my parent. However, I'm still stuck in this same depressive funk, and am just completely lost. I can't pull myself out of it. I find myself regretting leaving that job every day. It was the best thing professionally that ever happened to me, had me on the track for a nice FIRE in a few years, and I just threw it away. Meanwhile, every day just eats away slowly at my NW and is stressing me out, probably contributing to this downward depressive spiral. Financially, I still have some equity in the old company worth \~2million, although it can't be cashed out until after their eventual IPO in a year or two. + +Have any of you gone through anything like this before? How did you pull yourself together and get back on track? How do I get rid of these feelings so I stop living with so much regret and can actually move on? + +&#x200B; + +EDIT: Thank you so much for all of the amazing comments so far. They've all been tremendously helpful. + +Second Edit: I'm overwhelmed by all of the incredible support and insights. This is really incredible...I didn't think posting about this would garner so much support. I'm truly grateful for all of you taking the time to help. +Hey everyone, +I have a little bit of an issue and I would really appreciate some advice before I make a decision. + +My mother bought a block of land a few years ago and has been planning to build on it. She was approved for a loan a while back, but since then had an accident which has killed both of her arms. She wasn’t able to complete the loan paperwork due to excessive time in hospital, so now it’s all be revoked. + +She still owns the block, but in order for her to be able to secure a loan and build on it, she needs me to co-sign the mortgage with her. I’m 20 years old and still live at home and she keeps telling me this could give me a huge head-start in life. She tells me she will be the one paying the loan, but needs to use my income to secure the loan. She says because of this, she will leave the house to me in her will and not my brother and sister. However, she doesn’t want to put my name on the title of the house. To me this is a major red flag. I asked her what would happen if 5 years down the track I want to buy my own place with my girlfriend. She says that it would be easy because I could use the equity from the property to make a deposit, but if I’m not on the title then wouldn’t I just have a debt with nothing to show for it? Is there any way I could go about this or would refusing to do it be my best option? + +Please help me out. I’m pretty clueless with all this stuff. Thanks. + +EDIT: What would the situation be if I could talk my mother into transferring the title into my name? Judging from the way she speaks about it, she’d still be happy to be the one making the repayments, even if I was the owner. After all, if she’s promising to leave it to me after death, why not just do it in the beginning? That way, wouldn’t I be protected because I own the property? I could sell if it wasn’t being paid? Is there more too it or would doing it this way be a good decision? Would it even be possible? + +Also, I’m from Victoria, Australia. I’m a full-time carer for my mother and I get paid $1100 a fortnight from government benefits. It’s the best possible situation for me as I am also a full-time uni student who studies online. I’ve had many jobs in the past but I was required to work 30 hour weeks in order to earn the same amount. Being a carer means I can get paid comfortably, study without too much pressure and also help my mother. + +I’d like to thank everyone for the incredible advice. I already told her no a few weeks ago, but was just seeking some more information which has only solidified my decision. I won’t be doing it. She will sell the block and we will find a more affordable rental. I am not going to be roped into something so incredibly risky. I really appreciate the comments so thank you all again. + +ADDITIONAL EDIT JUST FOR HUMOUR: She even hired a ‘financial advisor’ who told me it was all a good idea. My mate told me to be weary seeing as she was paying his bills. Good thing I listened to my mate and not the ‘expert’. +I mean!!!!!!! We ALL deserve a roof over our heads, but how can one afford to pay $1500-2000 a month for a ONE BEDROOM in a crappy part of town. When one has a child and a minimum wage job. Sigh. +Hi all, + +I quit my job. + +My situation is I have worked virtually non-stop for the past 15 years, I have around £60k in savings, I am single, in my mid 30s with a low cost of living. + +My annual living cost is around £20k. + +I feel exhausted and want to get away for a while, travel, and forget about life worries, but at the same time the pull of money, to work and have an income is strong because this is all I know. If I do not work I do not earn money which means my money pot does not grow. +After completing my 4 year degree, I purchased 4 books in semester one. I realised throughout the semester that I'd used the books maybe 3-4 times (typical student). The cost of the books, $300, didn't seem feasible. +I looked into other avenues and found that the library has most books available for short (3-7 day loan). You can also scan a certain number of pages (I think it could be 10% - I'm in Australia - check this to ensure you aren't doing it illegally) and just scan the select few you need at the time. I did this successfully throughout my degree and found it rather easy and no major effort at all! + +By doing this, I spent approximately $50-100 for my remaining 7 semesters. In comparison, my colleagues spent $2500-3000 for the same educative experience. + +For those books that you absolutely need, either borrow from a friend, or buy second hand. You can save hundreds, if not thousands this way also! + +TL;DR - Books expensive. Borrow from library. Paid $300 buying books Sem 1. Spent $50-100 for remaining 7 semesters through borrowing/scanning pages I needed (see above for legal issues - unsure if countries have different laws). Colleagues spent $2500-3000 over the four years in comparison. +I was on the phone with Fidelity customer service last week. Long time Fidelity customer here, and I wanted to try my hand at option trading, but I accidentally turned on margin trading and had to call to get that removed. + +Anyway, the rep and I were chatting while he was doing stuff and he mentioned to me that he's been doing nothing but this kind of request because of transferring RH customers that had margin trading on by default and didn't even know until they switched. + +Then he also mentioned that Fidelity had more new accounts in 2021 so far -- in 6 weeks -- **than all of 2020**. + +Now, Fidelity is a large ass company. The fact that they got 10x the normal flow of new customers mostly because of RH doesn't sound great for the future of RH. + + +Puts on RH IPO. +I know a friend right now who has so much debt from college, that despite making a lot more money, cannot get approved for a house. + +In fact her debt to income from college is almost the same had she never went to college. + +People are being told to go to college to get a better job to afford things, but if they keep raising the cost of education, you won't be able to afford it anyway. How on earth does this make sense? +I am a wealth adviser and thought I would share some of the best tips I have for high income earners to consider in their financial planning. + +Please note this is all just general information, not targeted at anyone specific. + +Please do your own research and get good financial advice if your are unsure. + +&#x200B; + +**Goal Setting** + +Get together with your partner, and start setting goals. Make them SMART (specific, measurable, attainable, realistic and time bound). This gives you a platform to start working on your finances in line with clear objectives. It also empowers you to save and be disciplines, rather than pissing in the wind per say. + +Some common goals are: financial independence (What is that for you), bigger home, have kids, fund education, retire early, buy toys, travel big, work less, pay off debt, be tax effective, protect and support your family. + +&#x200B; + +**Cashflow Management** + +Understand your inflow versus outflow, what do you have for surplus and that's what you will be working with. Moneysmart have a good budgeting tool if you are looking for a place to start: [https://moneysmart.gov.au/budgeting/budget-planner](https://moneysmart.gov.au/budgeting/budget-planner) + +There is a high correlation between your savings rate and wealth, not so much income and wealth, most people with big incomes spend big, and that doesn't work out well in the long run. + +Australians usually have a fixed saving each month, where as the Japanese have a fixed spending each month, so Australians typically have lifestyle creep when they earn more, whereas the Japanese have savings creep when they earn more. + +&#x200B; + +**Invest** + +You all need an investment strategy that is appropriate to your goals, timeframes, risk tolerances and required returns. It doesn't have to be complex, it just needs to enable you to make investment decisions regularly with confidence. + +Super products and ETF's make this quite easy to implement these days, providing access to instant diversification and the ability to easily adjust your level of investment risk. + +Not investing is missing out on the wonder that is compound interest, the best time to start was yesterday, this link is great for understanding the power of compounding: [https://intl.assets.vgdynamic.info/intl/australia/documents/resources/10k\_simulations\_2021.pdf](https://intl.assets.vgdynamic.info/intl/australia/documents/resources/10k_simulations_2021.pdf) + +&#x200B; + +Top investing tips + +* Growth focused investments are best for high income earners, you can make better use of the capital gains tax discount and have the ability to better plan your tax outcomes by selling units in lower income years (i.e. Retirement, gap years etc). +* Dollar cost averaging is great, it is really a set and forget type approach that leaves markets to do the heavy lifting. +* In my experience those who try to time the market by switching to cash and back to stocks when they think conditions have improved often have horrible investing outcomes. +* Invest for the long term and avoid speculating. +* The market can remain irrational for far longer than you can remain solvent. Avoid investing in controlled economies (China/Russia) + +&#x200B; + +**Super** + +We have a generous super system, the tax advantages are significant, and everyone should consider boosting their contributions in one form or another. Its important to note, once you contribute to super, getting the money back out before retirement after age 60 is next to impossible, so be warned. + +This is not exhaustive, but some of the more effective strategies to implement. + +Super rules are complex and not all strategies will be appropriate or effective for your situation. + +&#x200B; + +* Concessional Contributions (also known as salary sacrifice) - most of us have a $27.5K limit each year, and our employees contribute 10% of gross salary (usually). + * So bridge the gap, you get a nice tax deduction for doing so, if on the top marginal tax rate (47%) the super contribution tax rate is 15% so an instant 32% arbitrage or $320 for every $1k you additionally contribute. + * Catch up concessional contributions can be really effective too, check you mygov > ATO portal for information on these, you must have a super balance under $500K at 1 july to be able to use them. +* Non concessional contributions (also known as personal contributions) - you are better investing for the long term in super than personally, assuming you wont access the funds until after age 65. + * We each have a $100kpa limit on making additional contribution into super. + * You don't get a tax deduction for these ones, but also no tax is taken on the contribution to your fund as you have already paid income tax on the funds. +* Spouse contribution - if you have a spouse on a low income, you can get up to a $540 tax deduction for making a $3k non concessional contribution to their super fund. + * Spouse must have taxable income below $40K and satisfy a few other criteria. + +&#x200B; + +**Protection** + +Having a protection plan sure helps me and my partner sleep at night, knowing if one of us gets injured or sick we are going to be ok financially and it wont derail our life plans. + +Especially so as we use debt to accelerate our growth of wealth and have ongoing obligations associated with that. + +Some cover you should consider include: + +* Death and Total and Permanent Disability (TPD) cover - this should at least cover your debts for most people. + * Usually effective to hold this cover in superannuation as your fund will get a tax deduction for your premiums, and any payment is made to a low tax environment and you would have access to your super (death and TPD are conditions of release from super). +* Trauma cover - arguably could be forgone since we have a great public health system, but can provides peace of mind if you cop a nasty cancer diagnosis allowing you to get the best care available. +* Income protection - You can protect up to about 70% of your gross income including super guarantee contributions. + * This cover replaces income if you are sick or injured and under care of a doctor. Not for self inflicted injuries! + * It is also tax deductible so usually a good idea to hold this cover in your personal name. + +&#x200B; + +**Debt/Gearing/Leverage** + +Borrowing can be really tax effective for investing. Any interest expenses related to loans you have taken out for investing to produce income are usually tax deductible. + +This is where the negative gearing can come into play, and you get a higher tax deduction than your investments are producing income. The idea is that you have a good amount of growth on these investments and there is a net financial benefit to you through lower tax and growth of wealth. + +Borrowing allows you to harness the power of compounding earlier than if you were to earn and save the money, being a high income earner you can usually borrow more than the average aussie as you can afford to repay the debt. + +Inflation does a bit of the repayment work for you, but long term stock market returns are around 10%, and long term interest rates around 4%, with inflation at 2-3%. + +A strategy for those with most of their money tied up in the family home is debt recycling, you can watch this video to learn a bit more on that here: [**https://youtu.be/CiMx\_oDISBM**](https://youtu.be/CiMx_oDISBM) + +&#x200B; + +**Get Organised** + +My favourite apps for being more organised: + +1. lastpass / dashlane - password mangers that make your life so much easier! +2. Google drive / Microsoft Onedrive - cloud storage system, access documents from anywhere +3. Sharesight - income and capital gains tax reporting on my investments (lose the spreadsheets) + +&#x200B; + +Hope this helps a few people out with where to start on their financial planning. + +Again this is just a very high level information, not advice specific to anyone in particular, get advice if you are unsure. + +Happy to take DM's if you want some more pointed guidance, but likely to just refer you to get professional advice. + +Sling me some upvotes if you found it useful :) + +Edit: cant edit the miss spelling in the title lol +Hi everyone — appreciate y’all’s advice / thoughts on the below! (Also don’t worry, I am planning on speaking with an attorney soon). + +At a high-level: + +I am marrying (in ~ 1 year) a partner with low-earning potential and high assets (family wealth). I have high-earning potential and low assets. + +Our views on prenups: + +My partner and I agree that our prenup should be written so that neither of us are disproportionately negatively impacted in the event of a divorce. She agrees that it would be unfair for her to take 1/2 of my earned income/investments since it won’t make a big difference to her but would make a massive difference for me. (If I strike it big and my NW eclipses hers then that’s a different story). + + +Complication: + +Her father firmly believes that all earned income during the marriage and after is to be split. + +My financial situation: + +I make $225k/year and expect my salary to grow ~10%/year (with the potential for several larger increases from promotions). My NW is ~$60k (I have sizable undergrad and graduate loans). + +Partner’s financial situation: + +She makes ~$65k/year as an elementary school teacher. She has roughly $2-3M in assets under her name. She is set to receive ~$10M-$20M in the future in the form of trusts and inheritance. + +Thank you so much in advance!!! +I am venting, but real estate industry needs to be brought under ACCC. The ads are misleading at best, fraudulent at worst, there needs to be truth in advertisement. Too much deviation between states, e.g. Vic requires price guide and section 32, Qld don't. A nationwide consistent information template for properties are required. Just like it is there for mobile plans or super funds etc. To make it easier to compare properties. Every room should be photographed and not excluded to hide something. + +Today my friend went to inspect a property in another city and showed us around using whatsapp. The beautiful pool and lawn in photos turned up to be an unmaintained dirty pool and the lawn was a brown dead patch :( + +Update: it seems Victoria has changed laws for better disclosure. +https://www.consumer.vic.gov.au/latest-news/sale-of-land-changes-in-effect-legislation-update +This may be asking for career advice, but I think the people in fatFIRE might actually have really good insight on this topic + +Lately I've looked at my life in Canada and thought "wtf am I doing trying to 'make it' here? It's foolish to do this in such an opportunity lacking nation. Something has to change" + +My understanding of the Middle East (such as Dubai, UAE etc) is that they're dying for good North Americian talent and pay handsomely for it. If this is the case, I'm willing to take advantage of it. + +I'm late 30's, no kids, work for a tech vendor as a Technical Account Manager, making good money but am looking for a solid 3-5 years of insane money. + +Is my perception warped; that if you took the same job here in N.A. and stuck in the M.E. you simply add a multiplier to it? + +Example, you make $200k/yr as a TAM working on large clients.... In Dubai or UAE it's $600k/yr? + +If there's that much oil money going around, I am willing to shift my life to get a piece of it. + +Edit: added more context +For what it's worth... + +This morning I called up Fidelity because I wanted to make sure my extended hours trading was enabled on my account...took 90 minutes on hold to get through. Apparently, they are slammed over at Fidelity, I asked the gal on the phone what's it been like today...she said because of all this stuff with Robinhood, they're looking at +700% daily volume for transferring accounts, which is quite amazing. + +Happy hunting! + +WE LIKE THE STOCK! + +STICK IT TO THE MAN! +I am overwhelmed for your sympathy and advice, I will try to answer each of you. Thank you for taking time to help me, your suggestions are going to have a great impact in my life. This is the first night I feel optimistic about the future. + +Edit#2 First of all: Thank you! I am grateful for all the incredible support and good advice. I am currently working on communicating with different institutions for tangible help like for starters, Legal. I will need to wait for the death certificate to actually start going places, the top priority is to dwell into SSN as so many of you rightfully pointed me to. I am doing well, I am peaceful I am optimistic. Friends of Reditt, you are all magnificent. +Happy 6th consecutive rate hike everyone!! + +Well we all woke up to a small (relative to what is expected) rate hike by the BoC of **50 basis points to 3.75%**. For anyone who is not aware, the rate (aka overnight rate) is the how much retail banks are charged for short-term loans. It comes down the economic line by influencing rate that people get from their everyday lenders on stuff like savings accounts and mortgages. + +&#x200B; + +**Why?** + +The idea is to bring down demand for goods and services that have risen in the past few months. In general this hike would be about +$30/month to every variable loan, for every $100k outstanding. + +The risk of the BoC not doing enough to tamp down inflation is much greater than the risk of BoC spooking households and triggering a recession, and that is the unfortunate realities of where we are. The BoC has found itself in a bind, where they must slow down demand enough to allow supply to catch up. Make no mistake, this is a delicate balancing act, and supply chains are obviously not the only issue. From my POV, the BoC has to focus on only what it can do. + +Make no mistake, what the government and BoC did in 202 did 100% contribute to the inflationary bind we find ourselves today. That is not the issue. That is the past. The BoC now is fighting to prevent this inflation from becoming entrenched. Also keep in mind that fiscal policy is shared between provinces and the federal government, and the two must work together to stabilize the rocking ship we are on today. People tend to forget that the BoC is an independent institution. + +The sad thing here is, the true impact of these policies always get passed down to the middle class and lower. It's not the C-Suite level person on Bay Street...It is the mother of two who is a teacher and now sees her mortgage go up. Yes, I love analytical and data discussions, but sometimes I feel that the people affected get forgotten or become a stat. + +&#x200B; + +**What does each party say?** + +>Liberal: We are doing the right thing, reigning in inflation, and the 2022 spending was needed +> +>Conservative: The government overspent in 2020 and 1/3 to 1/2 of it was not even pandemic related +> +>NDP: Pause rate hikes and the government needs to restructure corporate tax to make companies pay more tax in a record profit environment + +&#x200B; + +I am not aligned anywhere politically by the way, I just listen and write what I hear! My biggest fear is that with fiscal policy and economic stabilization, there are no smart adults in the room. It seems that instead we have everyone blaming each other. + +Anyways, have a happy winter everyone, and may your gas and heating bills stay low. +It’s interesting being on Ted Cruz’s side, but he’s really fighting for Crypto’s future. + +He’s now introduced this amendment and said he brought it up because he says there’s not 5 senators who can even explain what crypto is… +**Disclaimer: I'm currently in RAC with 2500 shares at $1.27 and may buy more in the lastest cap raise. TLDR at the bottom** + +RAC. Race Oncology. I don't think I've ever seen a more polarising biotech company discussed in this sub, and it appears the recent pre-clinical results + cap raise has put it back to the forefront of some people's minds. Most of us don't have any problems with buying into a dream - I suppose with all the speculative zero-revenue companies that get passed around here that's hardly a surprise. On top of the die-hard RAC believers (RAC-cultists? RACers? RACists? Kool-aid drinkers?), we also have a large amount of people calling the company a scam dream. + +The reason is pretty obvious - Dr Tendies and his rather impressive obsession with Haute Crapper, because let's be real very few people fully care about / understand the science (most of us can't even read so you're pretty elite if you can read this post). + +All of us can have differing opinions on how busy the Chief Science Officer should be, what they should do, and whether or not pre-clinical lab work or clinical trials is hardcore 24/7 (I don't think he actually does any of the trials personally. Also personally I found my limited experience with lab work to be boring - awful lot of waiting around for computers to run assays, reagents to mix etc. Clinical research instead relies heavily on data entry and analysis, which I'm not sure is better.) + +However, regardless of how eager or over-enthusiastic the CSO and some holders are (and I agree some of the price targets from Haute Crapper are absurdly high), I'm not sure how the directors (and Dr Tendies in particular) are going to manage any kind of rug-pull or run a lifestyle company. Seriously -> the good doctor holds 13,450,000 shares or 9.31% of the company as of the latest [annual report](https://onlinereports.irmau.com/2021/RAC/62/), and RAC typically trades <300k (often <150k) in daily volume. Not sure how he can dump all those shares without someone noticing a *Change of Director's Interest Notice*. + +But /u/n00ba7l1f3, can't they just siphon all the money in the company's coffers and run it as a lifestyle company? Perhaps dear viewer. Let's take a look at the FY21 annual report again: + +Non-executive director fees: $178 306 + +Employee benefits expense: $216 524 + +Travel and accommodation: $874 (yes, eight hundred and seventy-four) + +Share based payment expense (the big one): $2 276 196 + +Alright, so this last one is by far the most significant - as far as my smooth brain can tell half of it is options at very generous exercise prices (<$0.50), and the other half is at $2.150 strike. Issue though - if all the "lifestyle companying" predominantly entails employees getting options, how can they realise those gains in the low volume without an official ASX notice? + +**Now let's see what some other ASX oncology companies are up to** + +**IMM** - which has had a pretty bad fortnight, after they released [this annoucement](https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02449716-2A1337596?access_token=83ff96335c2d45a094df02a206a39ff4) on 10 Nov on their final results from a PhaseIIb study. Let's see - "*Statistically significant and clinically meaningful OS benefit confirmed now in three pre-defined patient subgroups (patients <65 years, low monocytes and luminal B)*". Sounds promising, bit odd with the sub-groups but they were pre-defined (unlike DXB) and in oncology with immunotherapies / targeted therapies it's pretty common to have drugs which only help certain patients - perhaps some of these subgroups had certain mutations which benefit from their drug? + +Oh wait, I see the big problem - "*In the total patient population... reflecting a survival benefit of +2.9 months (HR = 0.88, p = 0.197)*" and thus they didn't mention anything about statistical significance overall because there wasn't any to be had with 95% confidence intervals (CIs). Seems market didn't like that news too much. + +Which is a shame, because it turns out sometimes CIs don't have to be at 95%! Or so that's what **IMU** decided in [this announcement](https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02311873-3A556044?access_token=83ff96335c2d45a094df02a206a39ff4) released about a year ago, using 80% CIs for the only time I've ever seen in my life to say the key words STATISTICALLY SIGNIFICANT! Also they keep yammering about a one-sided p-value - it seems they mean they ran a one-tailed test. I'm no biostatics genius but I hope that's not what they meant because one-tailed tests are only if the estimated data is known to be definitely on one side of the reference data - aka absolutely not the case in a full on clinical trial for a new drug. + +Even though they have since stepped away from using the 80% CIs per [this announcement](https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02416151-3A574809?access_token=83ff96335c2d45a094df02a206a39ff4) in September (not that that would have been helped due to a p-value of 0.266), they sure are sticking by their one-sided tests. In all fairness, IMU is looking at a broad scope, these are still early stage trials with few participants, and there might be some misunderstandings on my part. + +**TLDR: But still, are we really going to cry and hate on an over-eager Dr Tendies from RAC who has no feasible way to dump all his shares, and ignore other biotechs which appear to use certainly unorthodox statistical analysis in a possible attempt to chase the 'statistically significant' buzzword?** +# Our Use Cases +## Firestarter: + +FireStarter is a unique Launchpad project developed by the Bonfire team. It is the second step towards the building of the Bonfire dApp ecosystem, which will provide the token with several new use cases. + +More info on Firestarter available on Telegram or Discord! + +# Q3 2021: + +This is the first step for the Bonfire NFT market. + +We're building the most unique NFT frictionless trading market, where you can analyze, track and discover in real time valuable blockchain-backed NFTs, navigating securely the markets with transparency and coziness. + +We have severely positive undisclosed plans for the NFT market in general. So keep updated in the next weeks! + + +# EOY goal : + +Our community will migrate to a fully functioning social media platform with an ecosystem running on the bonfire token. We aim to implement liquidity pools between friends, NFT AR/VR showrooms, full profiles, daily games and quests and so much more! + + +# Our Community! + +Having grown to 100k+ active holders since launching, we are amongst the fastest growing communities within the space. More importantly, our community has drive and passion like no other! We also have had an increase of 24k holders within the last two days! + + +Website - www.bonfiretoken.co/ + +WhiteBIT - Coming soon! + +CoinMarketCap - https://coinmarketcap.com/currencies/bonfire/ + +Coin Gecko - https://www.coingecko.com/en/coins/bonfire + +Discord - https://discord.gg/bonfire + +PancakeSwap - https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x5e90253fbae4dab78aa351f4e6fed08a64ab5590 + +Telegram - https://t.me/BonfireTG + +Our own subreddit - https://reddit.com/r/BonfireToken/ + +Twitter - https://twitter.com/token_bonfire +News that you all have been waiting for. + +CBDT decided to extend the due date for ITR filing. For most individuals, it is now **31 December 2021**. We'll have a detailed post on this tomorrow with all the new timelines. + +What does this mean? + +Gives you some more time to sort things out. Again, our request is to reach out to your tax advisor as early as possible. Get things done. Don't wait for the last minute. + + https://twitter.com/IncomeTaxIndia/status/1435969941618847747?s=20 +This might be a pretty dumb question, but I think I more or less understand the basic principles of buying your first rental property: you save enough for the down payment and hope you've run the numbers accurately enough to be in the green each month, and that the market doesn't collapse. All fine here. + +But it would be pretty tough to survive on a couple hundred bucks a month (if even that). So what about the second, third, fourth properties? How is it done? Are you just saving up for another down payment each time? Seems like the purchases would have to either be very spaced apart (10, 20+ years) or you have to have a much larger amount of upfront capital to buy more than one property. + +Is there something I'm missing? I take home a very comfortable 6 figure salary but I still don't see how I can afford more than one or maybe two rental properties. + +Edit: trying to keep it simple and "buy and hold" instead of rehabbing, because I've never even so much as painted a wall before. + +Edit: didn't expect all the replies and support, will be reading and addressing all of it. what a great community. thanks +Hello fellow day traders, I am thinking of quitting my 300k job to day trade full time. I was initially thinking of having day trading as my side job, but after living a year of morning trading - work - nightly stock market analysis, I came to a conclusion that I cannot sustain this pattern of life. I am a software engineer with shit work life balance, and it is just not sustainable style of life to have a side job. Also, I was losing motivation to improve myself as a software engineer and was performing badly while day trading in the morning. This eventually led me to get put in focus by my manager and after this incident, I have quit day trading as side job and focused on my work to keep my job. + +Now I am out of focus and back on track for exceeding expectation for my role, but the more I do my job the more I am realizing that I fucking hate my job. I am constantly having nightmares about my work and my manager, and more I work, more I realize that I don't have a passion for software engineering. Probably because of horrible WLB 60 > hours / week life, or because of my passive aggressive motherfucking manager. Also I always had that passion for day trading. I wanted to start trading again, but unless I was able to exert all my effort to trading, I did not want to start again. I did not want to be mediocre at both trading and software engineering. I will either have to give up on my dream of day trading full time, or do my best as software engineer. + +So before I get any older (27 right now), I want to try day trading full time. Before I make this happen, I was planning on creating some safety net for myself in case I get fucked and blow up my account. Here are following steps that I am planning + +1. Start applying for a new job in big tech companies with more WLB, like Microsoft, Google or Linkedin. This will create a better resume in case I get fucked and want to turn back to software engineering. Just be a mediocre here and day trade in the morning, and spend half of my time at work analyzing stock market and creating new strategies. +2. After about a year in the big tech growing my career (just for one more line on my resume), if I feel like I am prepared to start day trading full time, go for it. +3. Get fucked and turn back to software engineering. + +However, this initial plan was torn apart when the big techs started hiring freeze. They are no longer hiring people of my level. Also, while preparing for the interviews, I was thinking "what if I just spend all of my time (60 > hours / week + 10 hours preparing for interview) on day trading, analyzing market and creating automated trading systems? That sure will make such a huge difference on how I perform as a trader. I was already making 80% win rate and was on the path of increasing my account balance exponentially while I was day trading as a side job. Why not just quit up my job and go all in? + +&#x200B; + +While I was day trading part time, I have once blown up my $7000 account. Then I found an edge and I grew my account from $3000 to about $240000 in a year, from July 2020 to August 2021. I had doubts about my strategy when I started trading again late last month, but my strategies still worked and I turned $1000 to $1500 in a week. I feel pretty confident on my strategies, but I am not so sure that I will be able to create a new strategy that works as good as my current one, so no guarantee that I will be able to perform as right now. This is why I am very hesitant to quit my job. On the other hand, I am very confident that I will be much happier day trading. I have gave up my social life to trade for a year, and I don't regret that I have spent all my free time for trading during that time. I love learning stock market, and I love watching my predictions getting fulfilled in real life. + +&#x200B; + +So in summary, for anyone who are day trading full time, is there a big difference if you start to day trade full time? + +Do you wish that you have kept your original job and just do day trading as a side job? + +Or do you not regret having quit your job for trading? + +Did your mentality change when you started day trading full time? + +I would love to hear your thoughts people. Thank you for reading my long post in advance. +Firstly, to all the newbies that have just arrived in our slightly insane neck of the woods, welcome. + +Please note that you are not in charge here. + +Don't hassle the old timers, they've seen things you people wouldn't believe. Melvins **BRN**ing off the shoulder formations of the ASX. + +&#x200B; + +Secondly, before you ask anything or do anything, [have you read the Welcome post?](https://www.reddit.com/r/ASX_Bets/comments/iqpmfe/welcome_to_rasx_bets/) It has a lot of stuff which you shouldn't do. Including literally a list of stupid questions to not post. + +&#x200B; + +Third, did you read the [FAQ](https://www.reddit.com/r/ASX_Bets/wiki/faq) and [the wiki](https://www.reddit.com/r/ASX_Bets/wiki/index). They have a lot of stuff. + +If you read it and know more, then maybe add more to the wiki. + +Be the hero we need. + +&#x200B; + +Fourth, did you try just reading the existing posts. The query on how to trade on **US markets** has been asked dozens upon dozens of times. We don't delete them all. + +The daily thread (or weekend) updates daily and is generally much less moderated than the normal posts. People ask or say stupid stuff there. + +&#x200B; + +Finally, you may have noticed you can't post with your brand new reddit account. Our friendly robot mod /u/automoderator will delete your stuff very rapidly. Historically, we didn't auto-moderate comments, but the recent flood has made it a requirement. + +You just need to be totally **not** new to be allowed to comment. + +&#x200B; + +But today is your lucky day, this thread will be ignored by /u/Automoderator. So brand new questions can be asked. + +You see the upvote button. If someone answered a question you had, or they **ALREADY ASKED** the question you had, don't repost it to see your name in lights, upvote the comment. + +&#x200B; + +Remember, this subreddit is not about US markets. It is fine to ask how to access US markets as a person living in Australia, but this isn't **GME** central. + +&#x200B; + +PS. [The previously indicated warning to not post jokes about the Reddit survey question is still in effect. I believe we are up to 128 day bans for asking.](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/) +Like the title said: + +I'm 37 and I'm late to participate in 401k despite having past jobs that offered it. I feel like grade school should have classes on personal finance to equip people to make these decisions better but that's another topic. I made a crappy decision to not "give away my money" to 401k that I desperately needed reserved for my paychecks every week. Now I'm on board though and want to make right where I've gone wrong for so long. + +I'm looking at Fidelity and seeing that I should have at least three times my salary by age 40, put away. I'm nowhere near it. I've only been contributing now for 2 or three years at a rate of 8%. Each year I average a 3 to 5 percent bump in salary. When I got a 3% salary increase, I contributed 2% more to Fidelity and when I got a 5% increase, I contributed 3% more to Fidelity. I felt like this was a strong path being secure in retirement but I'm afraid it's not going to be enough. Should I put more in sooner than my annual raise? + +When my car is paid off should I continue making those amount payments into my 401k since I'm used to it? I just don't want to be stuck with no money when I retire some day. Thanks for any help/suggestions. +Welcome to the ETH Daily Discussion thread of /r/EthTrader. + +*** + +The thread guidelines are as follows: + +- All sub rules apply here. Please review our **[rules page](https://www.reddit.com/r/ethtrader/about/rules/)** to become familiar with them. The rules page is also linked in the announcement bar above. +- General discussion topics include, but are not limited to, events of the day, technical analysis, alternative Ethereum projects, or support issues. +- Breaking news or other important content should be submitted as a separate post. +- In-depth altcoin discussions should be referred to the /r/CryptoCurrency discussion thread. To view the thread, [follow this link](https://np.reddit.com/r/CryptoCurrency/search?q=%5BMonthly+General+Discussion%5D&restrict_sr=on&sort=new&t=all) and choose the latest entry on the search page. +- Pumping, venting, trolling, or any other similar behavior **should be reported** and redirected to the /r/CryptoMarkets trollbox thread. To visit this thread, [follow this link](https://np.reddit.com/r/CryptoMarkets/search?q=Trollbox+Thread&sort=new&restrict_sr=on&t=all) and choose the latest entry on the search page. + +*** + +* For newcomers who have basic questions about Ethereum, you can find answers by visiting /r/EthereumNoobies or our [Ethereum Education wiki page](https://www.reddit.com/r/ethtrader/wiki/education). + +* **[EXPERIMENTAL]** - To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Thank you in advance for your participation. Enjoy! + +Update: thank you so much for the responses and support. My plan of quitting early is temporarily on hold because one of my coworkers may be put on bedrest and another is at a different location all week. My boss maybe a shithead but the manager isn't and I can't leave her to run the shop by herself. I'll know more about what's happening by tomorrow after noon +Last week I I was hired at a new place that has better pay and better hours. Also my boss won't be stealing money from all her employees (that's a different story and I'm already reporting her to the proper channels) +I did a working interview in which I worked a full day and was paid for it. Friday my new boss called me to let me know how much I had made that day and that they would be sending me a check. I made more than twice what I make in a day at my current job. I have a week left of my notice but I'm struggling so hard right now and my new job wants me as soon as possible. Should I call my current boss and explain that I literally can't afford to complete my notice or do I tough it out for professionalism. Also I work in the dog grooming industry and most salons know each other and my current employer has a horrid reputation which she mostly lives up to. +Any thoughts and suggestions are super appreciated and welcome. Thank you. +I am 33 years old, my wife is 30, and we have a two-year-old. I’m an investor with 48 properties and over seven figures in stocks. + +I’ve recently really started to appreciate my wealth. I live in Ohio, so there is a reasonably cheap cost of living. + +What top jobs did you hire out that made your life easier (maid, nanny, driver, etc.)? + + +As silly as it sounds, the stress of coming home and our house is chaotic, toys everywhere etc make we want to higher someone just to put everything back at night, is that like a cleaner, organizer, maid? + +I really appreciate any help you can provide. + The rush to crowd into cities to be closer to tech jobs could be a thing of the past in the wake of the COVID-19 pandemic as more people embrace remote work and flee close quarters. And Seattle-based real estate company Redfin is “preparing for a seismic demographic shift toward smaller cities.” + + [https://www.geekwire.com/2020/boise-bozeman-bound-redfin-ceo-predicts-big-shift-smaller-cities-remote-work-takes-hold/](https://www.geekwire.com/2020/boise-bozeman-bound-redfin-ceo-predicts-big-shift-smaller-cities-remote-work-takes-hold/) + +&#x200B; + +I can certainly see this happening for the next few years, but hard to see this as a long term trend +Some context: I am a 16-year-old high school student. I've always been a big fan of dividend stocks, however, my parents are not allowing me to get a job as I should be focusing on school. I am a lazy guy, I do not like to work, and do not plan on working for very long in my life; getting paid for literally not doing anything is just so appealing to me. Currently, I have around $1,400 invested in dividend stocks, all saved from allowance and/or from my past shoe reselling experiences. I am also investing with my uncle, and we are consistently making $1,000 in profit every month, of which I get a 20% cut. Additionally, I have invested a thousand dollars into cryptocurrencies and hope to leave it there to thrive for a couple of years. + +Now the question is, my parents, do not think that I will be able to live off dividends in 20 years, despite me explaining to them how compounding works and how over time the small amount I have invested will grow into big numbers. Are they correct? I have always looked at dividend stocks as my escape out of the typical 9-5s that all my peers are working towards. However, now I am worried that I am delusional and I will be working for the majority of my life. + +If anybody has been in my position before and has gone through with it, how did it work out? Did you succeed or are dividends simply not enough to live off of? +**As I am sure everyone saw, last Friday the Fed’s O/N Reverse Repo figure hit a** [**record $1 Trillion**](https://fred.stlouisfed.org/series/RRPONTTLD)**, shattering all previous records. In my first ever DD in May (**[**here**](https://www.reddit.com/r/Superstonk/comments/nk1s2a/connecting_the_dots_citadels_treasury_market/)**) I hypothesized that the reason for the sharp increase in RRPs was due to Citadel and other SHFs shorting the Treasury Market** (from Atobitt’s The Everything Short)- my idea was that they were likely hitting FTDs on their shorts (since they may have shorted more bonds than exist) and needed to locate Treasuries to kick the can on the FTDs. Thus, the SHFs were using banks as intermediaries in order to get these treasuries on their books on the day they needed a locate. + +**It looks like I was wrong. Their shorts may have been contributing tangentially to the issue, but are not the driving reason for this record scramble for collateral.** The amount and diversity of participants is evidence that this is a systemic issue for Money Market Funds/Banks/Broker-Dealers- not just a few large SHFs needing Treasury collateral. **The real issue is worse. Much worse. There are signs that the entire banking system is straining under the weight of the massive liquidity injections from the Fed.** + +**Let’s take a trip-** + +&#x200B; + +https://preview.redd.it/ym0yjv5j9cf71.jpg?width=1280&format=pjpg&auto=webp&s=861edcff728a52d6c8782db0aa42bb70aeec5b7c + +&#x200B; + +# RRPs + +[Reverse Repos](https://www.investopedia.com/terms/r/reverserepurchaseagreement.asp) are extremely similar to short term cash loans. The Financial Institution (most often a [Money Market Fund (read here if you don't know what MMFs are)](https://www.investopedia.com/terms/m/money-marketfund.asp) takes $1M of cash, and gives it as a loan to a counterparty, who coughs up $1M of Treasuries as collateral to the MMF. Then the MMF gives the Treasury back to the counterparty at the maturity date of the RRP contract (in this case, the maturity is only one day) in exchange for the payback in full of the original loan. (These have been covered at length in other DDs, [read this if you’re still confused](https://www.investopedia.com/terms/r/reverserepurchaseagreement.asp)) + +(Money Market Funds are massive- they manage nearly $5 Trillion dollars as of the end of 2020) + +&#x200B; + +https://preview.redd.it/wylpbj0w9cf71.png?width=624&format=png&auto=webp&s=65749897e7b271ef9c328648788e6ed135cfe56e + +**The end result from a RRP is that the MMF is able to use its cash in order to secure Treasuries, and the counterparty gets a loan they can use to cover a short term obligation.** The terms Repo and Reverse Repo are interchangeable, they just mean opposite sides of the Repo trade. + +(Another way of thinking of it is the entity **borrowing** the cash (loan) and giving collateral can be called a “Repo Party”, the entity **lending** cash and receiving collateral can be called the “Reverse Repo Party”. Sorry if these terms are confusing) + +Credit to u/leisure_rules for [this great explanation](https://www.reddit.com/r/Superstonk/comments/os3cn6/daily_reverse_repo_update_0726_891203b/h6m9do7?utm_source=share&utm_medium=web2x&context=3): + +&#x200B; + +https://preview.redd.it/bviglo50acf71.png?width=1404&format=png&auto=webp&s=93c4042b33df71e507a994d3c6bc7402a5468423 + +**As many have pointed out, this massive figure is concerning because it is a symptom of a serious issue in the market.** MMFs typically operate by taking cash and lending into the “money markets”, aka short term (cash-like) loans, such as AAA+ corporate debt, T-bills, or overnight bank loans. Some MMFs are “government MMFs”, meaning they have to put the majority of their funds into government securities with short durations ([SPAXX for example, as pointed out by u/Criand](https://www.reddit.com/r/Superstonk/comments/oteezg/daily_reverse_repo_update_0728_965189b/h6uro7d?utm_source=share&utm_medium=web2x&context=3)) + +The MMFs are the largest investors at the RRP Facility- accounting for more than 80% of total volume. Since the govt MMFs have to invest the vast majority (99.5%) of their funds into T-bills (another name for short duration treasuries), they are scrambling to park as much money as possible into the RRP facility to maintain their legally required ratio of T-bills to cash. + +&#x200B; + +https://preview.redd.it/e8uds0m1acf71.png?width=608&format=png&auto=webp&s=5f53182e9ff91225ee65b8bde50e806b62f1fc72 + +Typically, these MMFs trade Repos with primary dealers (basically these are banks that are allowed to directly buy Treasuries from the Federal Government- [primary dealers are also explained in Part 3.5 of my Dollar Endgame Series](https://www.reddit.com/r/Superstonk/comments/oh0m2s/hyperinflation_is_coming_the_dollar_endgame_part/)) as these researchers explain- + +“**MMFs conduct the great majority of their repo investments with securities dealers, and primary dealers in particular.** Nondealer counterparties include insurance companies, educational institutions, government-sponsored enterprises (GSEs), and the Federal Reserve. Some MMF repos are centrally cleared and novated to the Fixed Income Clearing Corporation (FICC).” + +“**Access to MMFs in the repo market facilitates a range of dealer’s financing and market making strategies, indirectly connecting MMFs to a broader set of activity in the financial system.** As of December 31, 2020, MMFs held $877 billion of repo investments, or 82% of the total, with securities dealers. Of that amount, $642 billion repo investments were with primary dealers. Historically, primary dealers have been by far the largest MMF repo counterparties.” ([Source- SEC Money Market and Repo Research Paper](https://www.sec.gov/files/mmfs-and-the-repo-market-021721.pdf)\- also where I get these charts). + +As stated above, **MMFs are Repo counterparties** for dealers/banks/corporations. **Thus, the MMFs are lending cash to the dealers, and receiving T-bills as collateral (occasionally other types of collateral). Remember, a Repo from the counterparty’s (MMFs) point of view is basically a Reverse Repo since they take the opposite side of the Repo trade.** MMFs always want to LEND cash in order to get T-bills and debt securities, or just buy them outright. + +&#x200B; + +https://preview.redd.it/n30gqp94acf71.png?width=300&format=png&auto=webp&s=55145106ebb5edcea9787e3ae079cef3a217bb20 + +All these transactions occur in the “[Money Markets](https://www.investopedia.com/terms/m/moneymarket.asp)”- the opaque, hidden and secretive world of plumbing that runs throughout the entire financial system. Reporting here is very spotty- large parts of the markets are lightly regulated, and very few people actually know what is going on in them. This is concerning since large parts of the financial system rely on these markets- for example large corporations such as General Electric, PG&E, and even McDonalds use this markets to roll their short term debt, ensuring that they can borrow enough cash to pay bills each month. + +**Because this world is so unknown and opaque to most in the financial world, this market has been coined the “shadow banking system”.** This is because entities in the system, such as MMFs, **ACT** as banks (*ie depositors put money in, MMFs loan cash to corps/banks for collateral (Reverse Repos). Some retail clients of MMFs can even write checks from their MMF account, just like a checking account!*) but they are **NOT REGULATED** like banks- thus, **MMFs (along with other institutions) are called “shadow banks”**. + +They fall under much lighter regulation standards as “collateralized debt funds”. Post-2008, there was an effort to more tightly regulate these funds as banks/bank substitutes, but the bill failed (See: [The Payoff- Why Wall St Always Wins](https://www.amazon.com/Payoff-Wall-Street-Always-Wins/dp/1935212966)). + +In the midst of the 2008 Financial Crisis, Zoltan Pozsar, a Senior Analyst who was hired to work at the New York Fed, started diving deep into the Shadow Banking System. Obsessed with understanding it, he worked day and night for weeks, building a map of how it works, which NO ONE had ever done before. Here it is pictured below, from his seminal paper “[The Rise and Fall of the Shadow Banking System](https://www.economy.com/sbs)” + +&#x200B; + +https://preview.redd.it/m49ugz6dacf71.png?width=929&format=png&auto=webp&s=6b9cab66b56ea5b678a4daaeca409abfd3c9f422 + +As you can see, this system is INCREDIBLY complex. The map pictured above is just the executive summary map. The real map is very big (4ft by 3ft or so). I saw the real map in an online research paper years ago, but now it appears [that the link to it is broken on the NY Fed’s website](https://www.newyorkfed.org/research/economists/adrian/1306adri_map.pdf) ([same issue with a FT article](https://www.ft.com/content/9023cd92-fee7-315c-b896-928bb23bbb85)). Weird. + +If anyone finds it, please let me know. ([Extra Credit Reading- Shadow Banking: The Money View by Pozsar](https://www.financialresearch.gov/working-papers/files/OFRwp2014-04_Pozsar_ShadowBankingTheMoneyView.pdf)) + +This system is huge- trillions pass through it every day, and it directly touches most major banks, insurance corporations, broker-dealers, MMFs, and even some pension/hedge funds. Pozsar is one of a few experts who have a deep understanding of how this system works (along with Jeff Snider and Steven Van Metre) + +[Pozsar predicted a month ago that RRPs would rise above $1T, and eventually climb to $1.3T or more. ](https://www.bloomberg.com/news/articles/2021-07-05/zoltan-pozsar-sees-a-1-trillion-problem-for-money-markets-ahead)Looks like he was right. + +I’m not going to dive deep into the Shadow Banking system- **as I have nowhere near the knowledge that the aforementioned experts have**, and it would take FAR too long for one DD. If you would like to know more I suggest you read the above resources (or check out George Gammon’s interviews with [Jeff Snider](https://www.youtube.com/watch?v=n_sc-H5QYSo&t=5s) or [Steven Van Metre](https://www.youtube.com/watch?v=zEl_a37D158)). My focus is more macro-economics + financial history. + +OK, Back to Reverse Repos- what’s going on? + +# Three Driving Reasons for RRP Blowup: + +&#x200B; + +# 1. Loss of Faith in Primary Dealers/Repo Counterparties- Bank Credit Contraction beginning. CDS Rising. + +&#x200B; + +# 2. Collateral Supply Shortage- Caused by the Treasury drawing down the TGA (Treasury General Account) and hitting the Debt Ceiling (Treasury not issuing more bills/bonds). SLR exemption expired. + +&#x200B; + +# 3. Massive Treasury Demand- Spawned by “flight to quality” from FIs, Fed continues to pump $120B a month into the banking system. The Fed is EATING the Treasury Market. + +&#x200B; + +# Let’s cover these one by one. + +&#x200B; + +# Loss of Faith in Primary Dealers + +Typically, the MMFs can use the [primary dealers](https://www.investopedia.com/terms/p/primarydealer.asp) to source a large portion of their treasury demand. They would only occasionally use the Fed RRP window when their demand exceeded the market supply- this is because the Primary Dealers will usually pay a decent interest rate (like 1-3%) for the RRP, while the Fed’s RRP was pinned at 0.00% for years (until this July, which we will get into later). + +So why are the MMFs and other FI’s with cash to spare using the Fed’s RRP facility at near-zero interest rates when they could potentially make much more in RRP to banks? **They’re noticing something happening in the banking system.** + +**The entire banking system has begun entering a credit contraction.** Despite the trillions injected by the Fed, major commercial banks are afraid to make loans, and have been letting older loans mature without lending more- You can see this for yourself [here](https://fred.stlouisfed.org/series/TOTCI). + +&#x200B; + +https://preview.redd.it/xo70glafacf71.png?width=2334&format=png&auto=webp&s=9a72b010984abb8a50d172c5fe743a09ba9faad0 + +This is typical of a [credit cycle](https://www.investopedia.com/terms/c/credit-cycle.asp#:~:text=A%20credit%20cycle%20describes%20the%20phases%20of%20access%20to%20credit%20by%20borrowers.&text=During%20the%20contraction%20period%20of,loans%2C%20and%20other%20personal%20loans.), ([explained in depth in Part 3 of my Dollar Endgame Series](https://www.reddit.com/r/Superstonk/comments/ogzoco/hyperinflation_is_coming_the_dollar_endgame_part/)). In a recession, companies that are overleveraged start to go under, banks get worried about credit risk again and slow down/stop lending. What is weird about this contraction is that it is occurring in the midst of the greatest fiscal and monetary stimulus ever- the Fed is printing billions and shoving it into the banking system. The economy is supposed to be growing again and lockdowns are being lifted. + +**Further, notice that the credit contraction is more severe (steeper) than either 2001 or 2008. Banks are pulling back commercial and industrial loans more rapidly than in either previous recession.** + +Zooming in, we can see an initial spike in loans from banks due to Fed Stimulus in March 2020, then a steady downward contraction in bank credit even into July 2021- despite the $120B being plowed into the system every month, and a reopening from the lockdowns of 2020. + +&#x200B; + +https://preview.redd.it/y0bgv2pgacf71.png?width=2334&format=png&auto=webp&s=1a9c43851e88fa73825f62440b4ade573a0e4b05 + +Several important events have occurred in the past few months, notably [the closing down of personal lines of credit by Wells Fargo](https://www.cnbc.com/2021/07/08/wells-fargo-is-shutting-down-all-personal-line-of-credit-accounts-.html), and JP Morgan deciding to [hoard cash (ie, not lend) because it believes that “inflation is here to stay”.](https://www.cnbc.com/2021/06/14/jamie-dimon-jpmorgan-is-hoarding-cash-because-very-good-chance-inflation-here-to-stay.html) These are just more signs of the widening credit contraction. Why? + +In periods of high inflation, the value of debt gets wiped out. This is great for borrowers (consumers) but horrible for banks, since they rely on the interest and principal payments to retain their purchasing power so that they can buy other investments or make new loans. **Inflation (in the real economy) is almost always horrible for banks/credit lenders.** + +Thus, the big banks are starting to decide not to lend (for consumer loans) for fear of their investments being wiped out. This could be due to fear of counterparties defaulting, or fear of inflation continuing to soar. Banks are many things, but they aren’t stupid. (**also, hint, inflation is MUCH higher than even the Fed reports- likely real inflation is around 12-14% right now.** I can make a post on this later). The great ape [u/Dismal-Jellyfish](https://www.reddit.com/user/Dismal-Jellyfish/) has been making amazing posts on inflation- I suggest you go check them out. + +**If inflation keeps climbing higher and is not transitory, the banks will be faced with the prospect of losing hundreds of billions of dollars in their commercial loan portfolios as inflation eats away the value of the debt (that they OWN).** This will squeeze margins on them drastically, maybe even forcing a few into bankruptcy, and where they can, they will drastically raise interest rates (which a system this over indebted cannot support) just to survive. + +More ominously, the [Credit Default Swap](https://www.investopedia.com/terms/c/creditdefaultswap.asp) Rates (Yes, THOSE things from 2008) on the major investment banks are rising. (Notice how they also spiked earlier in the chart, during the last week of January when RH prevented buying of GME.) + +&#x200B; + +https://preview.redd.it/j66sbbaoacf71.jpg?width=1055&format=pjpg&auto=webp&s=cdf31a66216bbda8905a90031e8bf9c499e46966 + +&#x200B; + +The market views the banks’ credit risks as rising- likely the reason why bank ETFs like KBE are down >10% in the last two months. Credit Suisse’s credit risk is rising the fastest of all of them ([elaborated on in this post](https://www.reddit.com/r/Superstonk/comments/ox7p7a/wut_doing_credit_suisse/)). + +**Another interesting fact reported by Jeff Snider (mentioned by George Gammon**[ **in this interview**](https://www.youtube.com/watch?v=j1yyGieCC1w&t=876s) **at 6:20) is that T-bills received from the Fed’s RRP facility CANNOT be rehypothecated. All other collateral in the shadow banking system (aka collateral provided by primary dealers, banks, or others) can be rehypothecated 1-30x (or more, no one knows the exact multiplier), but T-bills from the Fed are specially marked to prevent rehypothecation.** + +Therefore, by using the Fed as their counterparty, MMFs get T-bills that aren’t (and cannot be) rehypothecated by anyone, and are thus MUCH safer. Further, they have basically no counterparty risk, because if the Fed runs out of money, it can just print more. + +**Why in the world would the MMFs use the banks as counterparties for RRPs when the collateral is rehypothecated and the counterparties could (potentially) default, when the Fed’s RRP facility is an option? It makes sense why they chose the Fed’s RRP facility.** + +# Collateral Supply Shortage + +The second thing driving the RRP figures into the trillions is the tightening of new supply of treasuries. This is because of a couple of reasons. + +\- First, the Treasury is drawing down the TGA (Treasury General Account) instead of issuing T-bill/bonds. The [Treasury General Account](https://www.investopedia.com/terms/t/treasury-general-account.asp) is the general checking account of the U.S. Government, which the Department of the Treasury uses and from which the U.S. government makes all of its official payments. The [Federal Reserve Bank of New York](https://www.investopedia.com/terms/f/federal-reserve-bank-of-new-york.asp) holds the Treasury General Account. + +It’s basically where the Treasury stores cash raised from issuing bonds, so that this cash can be disbursed to fund government programs (like Social Security, or the Dept. of Defense), along with making payments on the over [$28.5 Trillion National Debt](https://www.usdebtclock.org/). Typically, the TGA sits between $200-$400B, giving the government a small cash hoard in the case that it can’t issue bonds for a time. + +&#x200B; + +https://preview.redd.it/axiaxr2sacf71.png?width=1930&format=png&auto=webp&s=15ac0de03c8e8ccf443350484a8336903affe458 + +Treasury Secretary Mnuchin built this massive war chest during Covid because the government was able to borrow basically unimpeded, but Congress was unable to pass the second stimulus package until December 2020. At the peak, the TGA reached $1.8 Trillion, and hovered around $1.6 Trillion for months after. In February 2021, Yellen stated that she wanted to spend the money in this account rather than issuing new bonds, and that’s [exactly what the Treasury started doing.](https://www.reuters.com/article/us-usa-treasury-liquidity-explainer/explainer-u-s-treasurys-cash-drawdown-and-why-markets-care-idUSKBN2AM26A) + +So, since the beginning of this year, there has been less Treasury bond issuance than there otherwise would be, since Yellen can just pay for govt programs through the cash in the TGA rather than issuing new bonds. **Supply of Treasuries has thus been reduced since the beginning of the year.** + +**-The second reason for the collateral shortage is that the Fed now cannot issue any more bonds.** Just last week, as I am sure everyone saw, Congress adjourned for vacation without[ raising the debt ceiling. ](https://thehill.com/policy/finance/565745-missed-debt-ceiling-deadline-kicks-off-high-stakes-fight)This is crucial since it means that now, the Treasury legally cannot issue any more debt. Since the United States is running large budget deficits, it does not have the funds to pay for government programs and interest payments on the massive Federal debt- it typically borrows more (issuing new bonds) in order to pay off older bonds that are maturing (Like paying off your credit cards by getting a personal line of credit- genius right?). + +&#x200B; + +https://preview.redd.it/waw1gh23bcf71.png?width=1678&format=png&auto=webp&s=0aa65553239feea9d5e6f30e5cff54a9fe4d8e63 + +Now, with[ the debt ceiling left at around $28.5 trillion](https://www.wsj.com/articles/debt-ceiling-deadline-11627913756) (basically exactly where the current debt level is) the Treasury has no room to issue additional bonds. **New supply of T-bills and T-bonds is completely cut off.** [Yellen will now have to take extraordinary measures to avoid defaulting.](https://www.cnbc.com/2021/08/02/treasury-to-invoke-extraordinary-measures-as-debt-ceiling-returns.html) This is why I am not surprised that the RRP figures posted by u/pctracer keep showing \~[$900B figures](https://www.reddit.com/r/Superstonk/comments/ox83b4/daily_reverse_repo_update_0803_909442b/). **The figures will likely keep climbing as the collateral shortage gets worse.** + +# SLR + +\-Third, due to the SLR rule exemption expiring in late March 2021, banks need to hold billions of $ more in Treasuries on their balance sheets to remain within legal SLR limits. + +What is the SLR? Glad you asked. Let’s use the explanation I gave in my first DD as a guide: + +*"The* [*SLR (Supplementary Leverage Ratio)*](https://www.risk.net/definition/supplementary-leverage-ratio-slr) *is the U.S. version of BASEL-III capital adequacy norm and a Tier-1 leverage ratio; it varies from 3-5% common equity capital U.S. banks must maintain relative to their total leverage exposure. This is like a backstop to risk-weighted capital requirements”* + +Tier-1 Capital means the highest quality bank capital, i.e. bank reserves, shareholder equity, AAA+ bonds (in some cases) and **Treasuries**. + +Pulling from my DD again: \*"On April 1, 2020, the Federal Reserve Board of Governors (Fed) released an interim final rule (IFR) that allowed bank holding companies to exclude U.S. Treasuries and deposits held at Federal Reserve Banks from the calculation of their Supplementary Leverage Ratio (SLR) \*through March 31, 2021....\*\****This change resulted in a $55 billion reduction of capital requirements for the largest banks.*** *The stated rationale for this change was to allow banks to “expand their balance sheets as appropriate to serve as financial intermediaries and serve their customers.”* + +So, U.S. banks were allowed to temporarily exclude holdings of UST and cash kept in reserve at the Fed from their assets when calculating the ratio. Basically, this meant that the treasuries they owned could now be lent out to hedgies to short in the market for the duration of the Covid-19 crisis. **The banks were allowed to go down to a 0% reserve ratio, meaning they could have a portfolio of 100% liabilities backed by NO assets, (theoretically, though this didn’t happen in practice- banks were just able to leverage themselves up even further).** [Here’s a quick explainer on how SLR is calculated.](https://www.swfinstitute.org/news/84939/what-is-the-supplementary-leverage-ratio-and-why-is-it-important) + +[But, this SLR exemption (which lasted for a year) ](https://www.cnbc.com/2021/03/19/the-fed-will-not-extend-a-pandemic-crisis-rule-that-had-allowed-banks-to-relax-capital-levels.html)expired on March 31st, 2021- now they HAVE to have a higher amount of reserves at the Fed (reserves are like a bank account that cannot be withdrawn), **a large section of which are in the form of treasuries. They MUST maintain a minimum amount of Tier-1 Capital at the Fed.** + +**Since these bank reserve accounts cannot be withdrawn, the treasuries that sit there are locked in the system- they can potentially move between accounts at the Fed, but they can’t leave.** + +The Fed can use its own Treasuries for Reverse Repos, but not Banks’ Treasuries, since these need to be kept on hand to maintain the SLR. + +&#x200B; + +https://preview.redd.it/mchtpc07bcf71.png?width=1480&format=png&auto=webp&s=70514931163ab4067156aa8f5a5837c099d94bef + +**In fact, it’s interesting to note that the SLR rule being reinstated coincides almost perfectly with the beginning of the meteoric rise in RRPs.** [Check out the graph here.](https://fred.stlouisfed.org/series/RRPONTSYD) + +Once SLR was re-implemented, the banks pulled back all the treasuries they loaned out in the Repo market, in order to put these treasuries in their bank reserves so they could be compliant with the SLR. + +The SLR rule was heavily fought by the big banks, but the Fed passed it anyway. It’s likely that even Powell knew that exempting the banks from the SLR forever would be a [bridge too far](https://idioms.thefreedictionary.com/a+bridge+too+far#:~:text=An%20act%20or%20plan%20whose,Netherlands%20during%20World%20War%20II.), and create horrific risks for the banking system. + +# Massive Treasury Demand + +Lastly, the Fed is driving massive Treasury demand through its Open Market Operations. It is plowing $120B of liquidity into the markets every single month, $80B of which go into directly buying Treasuries (the rest in MBS). + +Why? Well, bond prices and interest rates are inversely correlated. So, by pushing up the price (buying up massive amounts) of Treasury bonds, the Fed insures that the interest rate on them stays low. **This is necessary given how overleveraged the system (and the Federal Govt) is; if interest rates climb too much, this could cause 2008 all over again (massive defaults and deleveraging as no one can pay the high interest rates).** + +&#x200B; + +https://preview.redd.it/yfcvjkndbcf71.png?width=597&format=png&auto=webp&s=67a3c634b5b4b08f008e69be31788db34fed6292 + +They say they will slow down “taper” bond purchases, but it looks like the pace of the buying is accelerating, not slowing down. So far, the Fed has purchased literally trillions of dollars of Treasuries in order to prop up the market and ensure the Federal Govt has enough money to pay interest and fund government programs (which it can’t do now that the debt ceiling is in place. + +**In fact, the Feds’ actions here are so aggressive that they are literally EATING the Treasury market. So far, they own about 30% of the ENTIRE Treasury bond market- and rising!** + +&#x200B; + +https://preview.redd.it/l6p7d2uibcf71.png?width=729&format=png&auto=webp&s=18858997ae6f03403c85a555e9a857f50cec76ac + +Thus, they are sucking billions of dollars of Treasuries out of the system EVERY DAY, ensuring that T-bill rates stay near-zero and as a byproduct taking all the pristine collateral out of the system. **Now, they are having to re-inject that collateral back into the system through the RRP facility to make sure that the Money Market Funds don’t blow up.** [**Powell knows this and it’s why he promised to keep the RRP facility open to all participants.**](https://alhambrapartners.com/2021/07/14/powell-admits-rrp-and-collateral-scarcity-still-unaware-of-what-it-means/) + +In fact, they have already started to get worried about this- they raised the % on RRP from 0.00% to 0.05% in mid-July, marking the first time in more than a year that the Fed has raised this rate. This may seem trivial- such a small amount doesn't matter, right? + +WRONG. **They did this to prevent a collapse of Money Market Funds.** Currently the 1 month T-bills are [trading around 4.5 basis points](https://www.wsj.com/market-data/quotes/bond/BX/TMUBMUSD01M) (basis points are 1/100th of a percent), or 0.045%- **extremely** **close to 0%.** + +This matters because MMFs have what is called a Net Asset Value of 1.00 (ie $1 asset for every $1 liability)- this means that **they aren’t supposed to lose money**. People who put money in expect them to act like a bank account, and when the NAV goes below 1.00 ([called breaking the buck](https://www.investopedia.com/terms/b/breaking-the-buck.asp#:~:text=Breaking%20the%20buck%20occurs%20when,operating%20expenses%20or%20investment%20losses.&text=When%20breaking%20the%20buck%20occurs,t%20bode%20well%20for%20investors.)), this means that the fund has started to lose money. Very quickly, people panic and start pulling their money out. Soon, a system-wide “run on the Money markets” begins with millions of depositors clamouring to get their money out. + +This actually started happening in 2008- [several money market funds broke the buck, a run on the funds ensued,](https://www.thebalance.com/reserve-primary-fund-3305671) and the companies that relied on the MMFs for short term funding (like Ford or McDonalds) suddenly found themselves strapped of cash- they couldn’t make their payroll. + +**Failure of the MMFs would be catastrophic to the banking system. With T-bill rates near 0%, a spike in demand could easily push the T-bills into the negative interest rate territory**\- **which means that MMFs would be making a nominal loss in their portfolio, thus breaking the buck. The Fed simply CANNOT allow this to happen, as this could quickly start a second 2008 financial crisis. Thus they raised the RRP rate to 0.05% to prevent any potential losses the MMFs might have had.** + +**The MMFs don’t want to buy T-bills outright (the original way they got them on their books) because the T-bills could enter negative interest rate category, or the Treasury could default on the payments. By using the Fed’s RRP Facility, they can essentially own the T-bill for a day, make the same amount as buying it outright, and be certain that their collateral is not rehypothecated. They can repeat this process every day to give the appearance that they own the T-bills and make some guaranteed interest. THIS is why they are rushing to the Fed EVERY DAY.** + +How does all this play out? No one knows exactly. What we can see clearly here is that the entire money market is being violently pulled around by the Fed and Treasury, who are trying to prevent bigger issues (i.e., a Debt Default) from occurring. + +**TL;DR: The Treasury and the Fed are creating massive collateral shortages in the shadow banking system which is driving Money Market Funds to use the Fed’s RRP Facility in record numbers. The huge liquidity injections from the Fed are putting enormous weight on the system and sucking collateral out, so MMFs are using RRP to get the T-bill collateral back on their books. Risks to the primary dealers are rising. New collateral (Treasury bond) supply is all but cut off for the foreseeable future.** + +&#x200B; + +# BUY, HODL, BUCKLE UP!! + +Nothing on this Post constitutes investment advice, performance data or any recommendation that any security, portfolio of securities, investment product, transaction or investment strategy is suitable for any specific person. + +Here is an [anonymised link to a Google Docs version of this post](https://docs.google.com/document/d/1_ibWK8wxjWlTOz8_zUJCaFCdW_22kcn2Cm18W9zid0g/edit?usp=sharing). I know y’all apes like PDF more so feel free to make this into a PDF and share it. (This is a dummy account, not linked to my personal email, I am not THAT stupid) + +**Side Note: A LOT of you have been asking me for updates on Part 4 of my Series “**[**Hyperinflation is Coming- The Dollar Endgame**](https://www.reddit.com/r/Superstonk/comments/o4vzau/hyperinflation_is_coming_the_dollar_endgame_part/)**” I just made the outline for Part 4 and will begin working on it, but this will take some time as I am extremely busy with work and trips this month. I promise you it is coming! I am running my arguments by former econ professors and colleagues of mine in finance to make sure my points are rock solid- this takes time unfortunately so it will be at least a few weeks until I can get this out.** +Lurker for nearly two years here. Some information held back to conceal my identity. + +I have no one to tell about this huge victory because I kept my debt a complete secret. I hope that someone who is in debt reads this and knows that you're not alone and you CAN get out of debt. Maybe not entirely. But the journey must start somewhere. I am super lucky I live in Canada where I don't have medical debt and I have a sibling who I could move in with. While I was in debt, my income was about $60k per year. I know this sounds like a ton of money but I live an extremely high cost of living area and when I started to get sick, my income dropped significantly (I am hourly). + +In May of 2018, I was diagnosed with a gynecological cancer (I am early 30's and it is not a common cancer for young women...which is why I wasn't diagnosed for some months) and had surgery to remove a large tumour. My tumour was Stage 1 and had not spread. I recovered and went back to work in August of 2018. That was ROCK BOTTOM. When I went back to work, my debt had hit $24,900 and yes, it was entirely on two credit cards with 19.99% APR. No bank would give me a consolidation loan. My parents and siblings did not have money to spare. My parents had just divorced and my siblings were making large life changes such as buying property (1 sib), having children (2nd sib), and going back to school (3rd sib)...I did not want to ask. I kept it a secret. + +My entire debt was racked up between March of 2017 and May of 2018. The triggering event was...my bf of 8 years dumped me out of the blue and left our shared apartment in March of 2017 (while I was at work...). I live in Vancouver, Canada, where a 1 bedroom is about $2000/month. Following being dumped, I had to find a new place to live in a city with a vacancy rate hovering around 1%. Rents were skyrocketing. + +When I was dumped, I had no debt. I also had NO savings, as I just thrown my entire savings account at my student loan to pay it off (HORRIBLE TIMING). So...always have an emergency fund. Do not start paying off debt until you have $1000-$2000 saved up...or else you'll just go into debt again. + +I went into debt to pay for an apartment deposit (rent, damage deposit, tenants insurance, moving van ect). Then my car (an old Honda that is still going today) needed extensive repairs (brakes). My hearing aids died in September (Yes, I am partly deaf, and no, these are NOT covered by Canadian health care...my hearing aids were $6000). And I started to get sick and work less. I had no idea I had cancer. I was not diagnosed properly until my third doctor's visit. Around this time, my work was wondering why I was coming in super late and wasn't producing good work. I am a professional (regulated profession, won't say which) and this was scary. I thought I was going to lose my job. + +So I racked up ALOT of debt. When I got sick and finally got a goddamn medical certificate signed by a doctor, I had to wait for my Employment Insurance to kick in, and paid my bills using credit cards. I had no short term medical insurance from my workplace. The benefits are shit...anyways. + +Here is what I did to get OUT of debt. + +\- I moved out of my expensive apartment, sold half of my belongings on Craigslist, and moved in with a sibling over 1 hour from my work (one way) into a really crappy apartment + +\- I sold things like my skis on my craigslist. This HURT. But it was cash. Threw that at debt. + +\- I started to work at home more to cut down on my commute (I realize this isn't feasible for a lot of people but basically, gas will KILL you, as will wear and tear on your car. If you can't work at home, move closer to work, move into a house with 8 PEOPLE, whatever it takes. Debt is an EMERGENCY). + +\- I threw every DOLLAR at my debt. Every payday, I kept an $x amount of money for my cellphone bill, rent, gas, and food, and threw the remaining $ at my debt. If the money wasn't in my account I could not spend it. + +\- Stopped buying ANYTHING. I cut my own hair. I made my lunch. I ate shit like crackers and canned soups. I stopped buying clothes. I sewed holes in my clothes. You name it. NOTHING. + +\- I did a balance transfer to get some debt onto a 0% card (10 months of no interest, pay $10 per month to maintain the balance) + +\- Took care of my mental health by going for walks, riding my bike, reading at the library, grabbing an ice cream, calling my friends, visiting my parents, writing in my journal, going for hikes ect. + +\- I got serious fatigue paying off my debt. I felt like I was throwing money at a fire and it never went out. This will happen. It is called debt fatigue. When this happened, I would go for a walk, cry in my car, write down how much I had paid off, write down what I would do when the debt was gone...it helped. You have to push through this. It is incredibly difficult but once the balances start dropping, it gets easier and easier. You start to see the light at the end of the tunnel. + +\- I've read this before. You sometimes cannot budget yourself out of debt. Sometimes, it is just too big. I just want people to know, you can be in the darkest hole of your life (for me, that was being dumped by my partner of 8 years at age 32, getting cancer that threatened my ability to ever have kids, and winding up in deep debt) and you MUST stick to the plan, write down your goals, and DO something about it. The bad times won't last. Tough people do. + +Fuck...I can't believe it is gone. Thank fuck. + +Always have an emergency fund. ALWAYS. If transportation or rent are killing you, be creative to the best of your ability, I know it is HARD out there, I am a renter in an insane market and I live in a CLOSET. My car is a piece of shit. My clothes have holes in them. But my debt is GONE. Do whatever you can! + +Bless you all. + +&#x200B; + +edit. Thank you for the gold. +Part Uno (you might want to read it first for background): [https://www.reddit.com/r/Superstonk/comments/odsded/peekaboo\_i\_see\_you\_79m\_hidden\_shorts/](https://www.reddit.com/r/Superstonk/comments/odsded/peekaboo_i_see_you_79m_hidden_shorts/) + +I'm BAAACK! + +After finding 79M hidden shorts in married puts, I asked myself "Can I do better?" I didn't disappoint. Don't get me wrong, I'm disappointed (yet also happy) that I found more shorts. + +In Part Uno, I searched for new deep OTM Put Options that have no business being opened and found 79M shares worth of options (about 792k opened Put options) opened during the Jan GME spike. I used a rather crude approach which was assuming worthless options are at the deepest OTM Put strike and then expanded that to strikes <= $5. Crude, but it worked fairly well. + +Here in Part Deux, I've improved on it by growing a wrinkle about options greeks. + +Using the same GME Options Data set I bought for about $21 from [https://www.historicaloptiondata.com/](https://www.historicaloptiondata.com/) for 2021 up to end of June, I did the following: + +1. Filtered the data set down to get two snapshots in time: Jan 19th, 2021 and Feb 1st, 2021. This is effectively bracketing the week before and week of the huge GME Jan spike. Whatever happens in here *should* 100% be tied to that crazy spike. (I just realized I'm undercounting a bit because the spike, T, was Jan 28th and Feb 1 is only T+2. I'm too lazy to rerun the process right now to expand out and you'll get the picture.) +2. Filtered out only for Puts (duh) because we're looking for Married Puts. +3. (NEW for Part Deux!) Filtered by *delta* which is an option greek that represents how much the option value changes per $1 change in the underlying stock price. I filtered for *delta* < 0.01 which means if the stock price moves by $1, the price of these options moves by a penny ($0.01) or less. These options are *literally* **worthless**. +Grow wrinkles about option greeks here: [https://www.investopedia.com/terms/g/greeks.asp](https://www.investopedia.com/terms/g/greeks.asp) +4. Summed up the total Open Interest for all remaining Puts. + +Total Open Interest for Puts with delta <= 0.01: + +|As of Jan 19, 2021|As of Feb 1, 2021| +|:-|:-| +|58,970|1,096,066| + +*Wut mean?* Over 1M **worthless** junk put options were opened in the 2 weeks (from Jan 19th to Feb 1st, 10 trading days) of our January spike. **1,037,096 worthless put options were opened.** Sink that in because those brand spanking, newly opened, absolutely worthless options are capable of hiding over **103,700,000 (103M) shares**. + +Updates: +1) Why worthless puts? See https://www.reddit.com/r/GME/comments/mgj0j1/the_naked_shorting_scam_revealed_lending_of/ +2) The prior 79M is a subset of this 103M. This approach is a more accurate way to count worthless options. +Below is a handy check-list for valuing investing the old-school Warren Buffett way. I thought you might find it useful. + +All the stats are derived from Buffett's advice over the years through shareholder letters and other sources. In my opinion, it is nearly impossible for a company to tick all of these boxes in the current market, but they are useful guidelines. + +Anything else you guys would add to the list? What other metrics / checks do you use? + +* Debt/Equity < 0.5 +* Current Ratio > 1.5 && < 2.5 +* Price/Book < 1.5 +* ROE > 8% consistent/increasing over last 10 yrs +* ROA > 6% +* Stable Book Value growth +* Stable EPS growth +* Stable Dividend growth +* Moat +* Interest coverage ratio (Income from operations/Interest expense) > 5X operating income +* Inventory turnover ratio (Cost of Revenue/Inventory) > 4 +* Free-cash-flow-to-revenue ({Operating cash flow + property, plant & equipment} / Revenue) > 5% +* P/E Ratio < 15 +* S&P rating > BB +* Reasonable Margin of safety (DCF intrinsic value/current price) + +&#x200B; + +&#x200B; +[This](https://www.reddit.com/r/investing/comments/qxeym8/buying_copper_stocks_now_that_prices_are_taking_a/) post about copper miners just hit the top of this subreddit, and it's a good example of the obvious astroturfing effort that's going on. + +Take a look at this account's [post history](https://www.reddit.com/user/KatheKnuth/submitted/) and you'll see a common pattern: a few karma-farming posts from a couple of months ago that invariably come in subreddits like /r/aww, /r/nextfuckinglevel, /r/MadeMeSmile, /r/funny, etc. Then nothing, then a submission to a stock subreddit. Anybody with experience moderating subreddits can pick this out as a bought account immediately. This is an extremely common pattern where people build up some easy karma on a clean account and then sell it for use in various promotional campaigns. + +Take a look at the post content and you'll see a pattern that will repeat: one or two paragraphs of content-free 'analysis' about events in whatever mining sector, then a series of 'pitch' paragraphs where they link to a random junior miner and include the ticker. Presumably this is an attempt to pump/draw attention to these stocks. + +I've been noticing this happening in /r/investing and /r/stocks over the past few months, here are a few examples that I picked up in just 15 minutes by searching for recent posts about 'mining', 'copper', 'gold', and other such keywords. On each of these posts note the exact same post framework and then click on the username -> 'posted' tab to see the exact same type of post history. + +* [/r/investing, 2 days ago, 'junior mining'](https://www.reddit.com/r/investing/comments/qvx11z/is_investing_in_junior_mining_stocks_worth_it/) +* [/r/investing, 8 days ago, 'copper'](https://www.reddit.com/r/investing/comments/qqs5bp/coppers_current_situation_is_concerning/) +* [/r/investing, 1 month ago, 'gold stocks'](https://www.reddit.com/r/investing/comments/qb8e3y/going_big_on_some_gold_stocks/) +* [/r/investing, 1 month ago, 'gold mining'](https://www.reddit.com/r/investing/comments/q8le51/investing_in_gold_mining_stocks_after_the_recent/) +* [/r/investing, 1 month ago, 'mining companies'](https://www.reddit.com/r/investing/comments/peh0q5/mining_companies_and_engaging_with_communities/) +* [/r/stocks, 4 days ago, 'copper prices'](https://www.reddit.com/r/stocks/comments/qudym9/why_do_copper_prices_still_go_down_despite_the/) +* [/r/stocks, 16 days ago, 'copper and lithium'](https://www.reddit.com/r/stocks/comments/qlsbil/im_about_to_invest_in_some_copper_and_lithium/) +* [/r/stocks, 1 month ago, 'copper prices'](https://www.reddit.com/r/stocks/comments/q3vsf4/will_the_recent_fall_in_copper_production_affect/) + +This is just quickly scanning over posts in these two subreddits over the past month - it's been going on longer than that and I'm guessing is probably in other investing-related subreddits as well that I just don't see. + +Anyway, I don't have any personal opinion on the stocks or sectors in question, but I do feel it's good to point this out and to remind everybody that when you're reading stuff on Reddit you are not necessarily reading agenda-free or good faith discussions, you are being marketed to. 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You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All sub rules apply here so please review our **[rules page](https://www.reddit.com/r/ethtrader/about/rules/)** to become familiar with them. The rules page is also linked in the announcement bar above. +- If the top page becomes overloaded with memes, all but the top two voted may be removed. If we need to remove a bunch of memes from the top page, post memes in this thread first and upvote the best so the mods know which ones to keep + +*** + + Resources and other information: + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). 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And I'd be a thousand times more terrified if I was on the opposite side of its bet. + +It's like an entity, but it isn't. Like there was this firm with thousands of *self-motivated* researchers. Like it's a firm that replenishes its unrestricted cash every two weeks, and it consistently publishes its own research and ruthlessly vets it all on the same exact minute it was posted. + +It operates 24 hours a day, 7 days a week, and if 4 more days were suddenly added in a week, it would still be putting in the hours too, without extra pay, and even if they're all holidays. + +It is terrifying to imagine for anyone to go against it and go between this firm and its gains -- that firm which has unlimited capital, unlimited energy, unlimited time, and unlimited morale... + +And it still keeps on growing. + +Shit's got eyes everywhere even in places as obscure as Luxembourg. That "firm", right now, as we speak, is singlehandedly slowly owning the entire float of a highly shorted company that the big firms have ganged on. You can't find its core because it doesn't exist, but its eyes will show up almost anywhere it wants to when it needs to find something. + +Actually, it's even more terrifying that it is just individual investors doing their own individually arrived at conclusions. Had this been a single entity or person, a negotiation or even an assassination would have already happened to stop it. + +But this "thing" only feels like a market force that exists, yet it doesn't. You can't grasp it. You can't sue it. You can't negotiate with it. Let alone, you can't even beg for its mercy. + +You can only feel its presence and how it's out to take you and all your money and send you to jail on its way, and it will do all of that while laughing at the stories of your divorce and private dinners and a thousand other jokes at your expense. + +There's a new player in the game, it's out to get you, and you can't even grasp its form. +I recently watched Rob Berger's video on YouTube regarding dividends and it was pretty eye-opening. I definitely never knew where the actual dividend payment per share comes from but it makes sense now. For those that aren't aware, you can look at 'Historical Data' of a security and see Open, High, Low, Close and 'Adjusted Close'. Look through the data until you find a dividend, and you'll see that dividend payments just come from the price of the stock. If the security is worth $50, and the dividend is worth $1/share, the adjusted close for that evening will be $49. It's value that we already hold that is being distributed back into our pockets as a check. + +So with that said and learning more about dividends, are they actually beneficial to investors? Do they actually lead to more wealth growth? + +Edit: [a couple of people have requested, so here’s the video I mentioned earlier](https://youtu.be/FEH8kZxaWS4) +First of all. Sorry if this is unpopular, but I needed to say it somewhere and the original r/wsb is just not the place. Since all of this GME started, wsb started to not feel the same at all. It's not what it used to be and now I am sad and concerned about it. + + For me, the peak was when it was around 1.8 million people in it, was just amazing, a incredible mix of actually good DD, video memes of really good quality, gains porn, lose porn and a lot of discussion for many companies (not just like 2 or 1 how it is going now) now is just low quality posts (90% fucking photos or ss of some stupid shit without actual value for the community) literally just looking for karma. + +Someone said in a comment: "wsb used to be smart people acting like retards, now is just full of actual retards" and I agree 100% with it. Do you even remember TSLA, PLTR, ARKK, NIO etc? No. WSB is now just A LOT of people that really don't understand what wsb was about, is obvious that this was going to happen when more than 7 million arrive in like 2 weeks, the older ones (us) are just now a minority in our own sub. + +This is absolutely not cool, I feel like we are actually losing something really beautiful, and that is the old (1 month ago) WSB. What do you guys think? Do you feel the same in any sort of way? And most importantly... Should we do something about it? + + +PLEASE DON'T LET THIS HAPPEN TO THETAGANG + +Thanks for reading +Hello fellow theta gangers! + + +I’ve been making a lot of premium lately. I have around 200k and sell both CSP’s and CC’s and bring in 5k a week, (Yes, 5k a week) on average in premium. I’ve read many posts and see that many people say that it would be possible to live off premium when the market drops or there is a extended period of time where IV is low. These scenarios all make sense why premium return would be low, but how low are we talking? The lowest return I get is on my Apple CC’s. It’s usually .05-1% a week. Would my return really get lower than this? + +Also, any theta OG’s out there remember what the premiums were like during the last financial crisis? Were returns really that bad? + +Thanks in advance!!! +Wow - what a week. This is an extension of my DD series on GME. If you haven’t read them and have time, they will provide some background on my previous predictions, some of which have already come true. + +# Previous Important Posts + +* [EndGame Part 1](https://www.reddit.com/r/wallstreetbets/comments/kwb827/gme_endgame_dtc_infinity/) (DTC Infinity) covered the short positions, the float, and potential snowball impacts of increasing prices, and argued that part of the reason that shorts haven’t closed was that it was pretty much impossible for shorts to close +* [EndGame Part 2](https://www.reddit.com/r/wallstreetbets/comments/l0czgs/gme_endgame_part_2_cohen_market_cap_potential/) covered Cohen, fair market cap analysis, and potential investors, in which I talked about the amazing mid-to-long term potential for GME. +* After the Citron tweet, I shared this [fan fiction on what looked like blatant market manipulation by shorts](https://www.reddit.com/r/wallstreetbets/comments/l1tg88/gme_how_shorts_manipulated_you_and_how_you_can_be/) on the day of the tweet, and offered some education on strengthening your position. This one got buried and is worth reading. + +# What’s happened thus far + +## Why did GME go up on Friday? + +The story here is more complex than paid media articles would like you to believe. GME has been driven up by 3 different forces: + +* Organic buying + * There is a mixture of growing positive sentiment in the investor world (not just WSB) about GME’s future + * There’s been a lot of good due diligence shared not just on WSB but even outside (for example, see gmedd.com) + * The Citron Backfire + * Shorts were on the ropes and kept looking for hail mary’s. They went to Citron and [coordinated a dump](https://www.reddit.com/r/wallstreetbets/comments/l1tg88/gme_how_shorts_manipulated_you_and_how_you_can_be/) to try to bring the price down. + * However, this backfired. Citron is so disliked in the industry that new wealth poured into GME in the face of Andrew Left’s pleas. Even when Benzinga brought Andrew Left on air, **minutes after he left** [they bought shares live on their show](https://youtu.be/mFiFWBrE5DE?t=5104)**.** + * The next day, our very on u/Uberkikz11 [was on Benzinga](https://youtu.be/GLzTU87MJMM?t=837) and more shares were bought. + * Larger investors piling in + * In my [EndGame Part 2](https://www.reddit.com/r/wallstreetbets/comments/l0czgs/gme_endgame_part_2_cohen_market_cap_potential/), I hypothesized that we’d soon see larger investors pile in. Then, on WSB, we saw posts from a [venture capitalist](https://www.reddit.com/r/wallstreetbets/comments/l0yzb5/a_venture_capital_perspective_on_gme/) as well as a [hedge fund investor](https://www.reddit.com/r/wallstreetbets/comments/l2zk5e/a_hedge_fund_managers_perspective_on_gme/) +* Gamma squeeze + * Once the organic buying started, we rolled into a gamma squeeze. Many people written about the gamma squeeze so I won’t repeat, see [this post](https://www.reddit.com/r/wallstreetbets/comments/l2t9bf/gme_i_think_this_is_a_gamma_squeeze_where_dealers/) for an example. +* Ultra low liquidity - In EndGame part 1, I talked about how the actual actively traded shares are much lower than the reported float, and **share availability has been reducing** driven by lots of diamond hands, not just among smaller guys like us but the larger folks too. +* I believe there were some short covers on Friday, but Ortex was still estimating 71M shares short at the eod. + +However, not many people have talked about why it **went down** + +## Why did GME come down? + +Here’s where things got interesting for me, and something I think happened again today (Monday) when GME climbed up over 100% but then had a rapid reversal, closing 20% above yesterday but closing below open. + +So Friday looked like a slam dunk - gamma squeeze, no shorts available to short, puts were getting exceedingly expensive as a short tactic. What happened? + +This is my fan fiction, based on what I saw. + +**I believe** [**market-makers**](https://www.nyse.com/markets/nyse/membership) **took a non-neutral stance and began actively shorting the stock after the second halt.** + +Market-makers are responsible for maintaining liquidity and functioning in the stock market, but they also have abilities that others don’t - for example they are legally allowed to naked short for “liquidity purposes”. They also have the ability to halt trading. + +There were two halts in the day on Friday: First, when GME was up 69% (heh heh), and then a few minutes later when it kept climbing after the first halt was relaxed. Note that at the time of the first halt, the **bid-ask spread was $10 on the underlying** a huge signal that there just were not enough shares to buy. + +However, after the second halt, something strange happened. Whereas a few minutes prior, there were no sellers willing to sell their shares below $75, **within 15 minutes** after the halt there were sellers at 70, 65, 60, and 56. Where did these sellers come from? + +&#x200B; + +[Incredible momentum reversal on Friday 1\/22 to push the price not too far above the 60c strike price. ](https://preview.redd.it/tt5zodp6pkd61.png?width=704&format=png&auto=webp&s=fa22980543213227bf5b3d17166129ac6cb65a65) + +My speculation? This was a coordinated **naked short ladder attack**. In this type of attack, short seller A sells to short seller B, who then turns around to short seller A at a lower price, etc. and with a **very small amount of capital** you can wreck the momentum of a stock and make people think that others are running for the exits. + +Notice how the stock dropped from a high of $75 on Friday to below 60 - the highest expiring SP for the 1/22 options, and stayed tight in range for the rest of the day. Now, for compliance reasons, MM are required to be neutral by EOD, so 20 minutes before close, MMs had to buy back all their short positions, which led to the strong close above 60. + +All this led me to believe that the **real fair market price for GME was above $65.** Without the market makers interference, GME would have closed higher. + +## A repeat on Monday + +The short ladder attack repeated on Monday. + +GME opened strong above $90, and quickly climbed to **a high above $155** before it was halted, immediately after the halt, a **short ladder attack again** drove the price down + +&#x200B; + +[Dejavu - Incredible Momentum Reversal after trading halts. ](https://preview.redd.it/qm81rd0dpkd61.png?width=637&format=png&auto=webp&s=4b4563e7dd2e626fb09dca69668c24631932e707) + +Both days, there **were rapid and significant reversals in momentum.** + +Now, I kept wondering - why would MM’s take the side of the shorts? What’s in it for them? One theory was that they were not adequately hedged, with the low liquidity of the stock meaning that the price was moving up too fast for them to acquire the shares they needed to. + +But then the news hit today: + +# A new opponent enters the ring: + +&#x200B; + +https://preview.redd.it/8htb0scgpkd61.png?width=926&format=png&auto=webp&s=228a8a84e592ea4642a61c5e07e07ae344ac8f2c + +That’s right, the **same Citadel** [**listed by the NYSE as one of their designated market makers**](https://www.nyse.com/markets/nyse/membership) is now invested in Melvin’s hedge fund and has a financial interest in the direction of GME’s share price. + +**Hey media - you want a manipulation story? You’re missing the big one.** + +# Now what? + +Shorts have pulled new dirty tactics each time they’ve been pushed to the edge. Paid media attacks, Citron’s fluff tweet + coordinated shorting, and now they’ve got the **actual people who get all the order flow on their side.** + +On the other hand, GME is still up over 20% and now trading at $88.00 after hours, which is well above the previous day’s high. + +&#x200B; + +https://preview.redd.it/rr5qet4ipkd61.png?width=724&format=png&auto=webp&s=96d28bf446a714906712503726f5903a681d5368 + +What this tells me is that GME’s **true price is still being suppressed**. They are using every tactic possible, even changing the [bid-ask spread rules](https://thefly.com/permalinks/entry.php/id3233043/GME;IRBT-NYSE-changes-bidask-differentials-on-options-for-GameStop-iRobot) on options to specifically target retail’s buying of options. + +We’re now playing the game against the folks who write the rules of the game. + +Some shorts may have covered today - with prices below $60 at one point they had some great opportunities to. However, there is **no way all of the shorts who need to exit covered today.** + +The short position still lost 20% from yesterday. They’ve got more fingers in the dam, but it’s definitely cracking. Also, **every call option purchased prior to 1/25 is ITM and profitable,** while **every put option purchased prior to 1/25 is OTM.** + +And, for some reason, the SEC still doesn’t want to enforce the threshold securities list for GME, where it’s now **been on for more than 30 days in a highly covered “short squeeze”.** + +&#x200B; + +https://preview.redd.it/rbrf6khjpkd61.png?width=936&format=png&auto=webp&s=7e4f432ff02dbf475a03cc68c54a5a0f5f0de429 + +# Margin impacts: + +Note that at this point, most brokers have increased margin on GME. This means that people that are long or short on margin will need to put up capital to hold their positions. + +This also means **puts will get more expensive** as people who sell puts will have to maintain 100% of the notional in their accounts to secure the put, so MMs will have fewer retail sellers of puts to absorb the demand. + +That means it’s not a bad idea to sell puts to acquire shares if you’re aiming for the long-term and not the squeeze, but keep in mind you’ll need the exact same capital as if you’d bought the shares, so it’s up to you on this. + +For shorts, a margin increase while the price is moving against you (even with retracements) is no good. + +# My speculation + +* Cohen and the GME board have been strangely silent this entire run. It’s possible they can’t say anything at all during the pre-earnings quiet period, but I’m sure they can see what’s happening. +* MMs will continue to play dirty, but at the same time they will need to continue to need to buy GME shares to delta hedge 1/29 and later ITM options as we get closer to expiry. + +# Things to be careful about + +As you can see, this is no easy win. I've been in GME for a few months but I've seen almost every trick in the book. In addition to the [suggestions I wrote about in this post](https://www.reddit.com/r/wallstreetbets/comments/l1tg88/gme_how_shorts_manipulated_you_and_how_you_can_be/), here’s some things to be careful about. + +* **Be careful about swapping ITM calls for OTM calls:** it can be tempting to trade-up your options for higher return, but be mindful of the delta impact. You may actually be driving the sale of shares by MMs when you don’t mean to. For example, if you sell a .5 delta call for 2 .2 delta calls, that’s net reduction of 10 shares that MMs have to hold long as leverage. +* **Be careful about being short any calls this week:** Not only do you limit your upside (which is dumb in the prospect of a squeeze), you could end up in a nightmare scenario. A call that ends OTM on Friday could end up ITM after hours if you didn’t sell it, and you may get assigned while the underlying continues to go up. +* **There are a few other dirty tactics shorts can play.** I’m not specifically going to share them here because I don’t want to give the ideas circulation, but + * **Choose your own limit sells based on personal sell points.** Don’t copy others and don’t try to be memey. Make your own decisions. + * **Stop sharing your positions publicly.** I know this is anti-wsb, and I think sharing them is great for this community, but in the case of GME it’s an **attack vector** for you. +* **Be careful of holding weeklies until expiration.** Remember the multiple trading halts? What if trading gets halted on Friday at 2pm and doesn’t resume for the rest of the day? **All your 1/29 calls would expire worthless. Depending on your broker and your cash positions, maybe even your ITM ones.** Roll (or sell, if you’re taking profits) your weeklies well before expiration. +* **Be careful about buying on margin.** Brokers are rapidly increasing margins. If you bought on margin with 2:1 leverage, and the stock went up 100%, you’d be in margin call even without a margin change. If the broker moves margin against you, you’ll get to margin call faster. +* **Don’t bet more than you can afford to lose.** I’ve been in GME long enough to know that just when you think going up is a sure thing (remember last Monday with the short sale restriction?), you can be surprised by a new trick. If you bet it all on weeklies all at once, you may not be able to recover from being wrong on the timing. Consider longer expiry or spreading your purchases out. I’ve held through multiple 30-40% drawdowns in the underlying; and **held through a 50% drawdown today**, so you need to be ready for the volatility. +* **Watch out for stop loss hunts.** It’s common practice for shorts to hunt for stop losses for cheap shares. If you’ve set a stop loss, be really sure about it. + +This is not financial advice; do your own DD. I’m holding over $1M in shares and calls. + +# 1/26 Update + +Hi everyone. Sorry for not posting or replying to comments. I was auto-banned from WSB when this post was auto-deleted by the auto-mod. Thanks to u/zjz to reversing the auto-deletion of the post though as it looked like it was helpful to the community. + +Hope you all made a ton of money today! + +**Quick Notes:** + +* At an after-hours price of **$209 a share**, **every call option, for every expiry, for every strike price is in-the-money. This is the third time this has happened for GME recently.** Amazing. What this means now is that market makers will need to buy a lot of shares to hedge for the calls expiring this week. Heed my above warnings. +* At this price, shorts **will start to get liquidated.** Combining the 400% weekly gain with the margin requirements increasing across the board, brokers will force close short positions. Starting maybe with the small guys, but it will cause a ripple effect. **Things could move fast.** Some funds may get additional bailouts this week to hold out. +* **You need to decide your own exit.** Only you know how much $ you're playing with, how much you're willing to lose, how important the $ is to you, etc. **Minimize you're regret, don't maximize your profits.** If you are thinking about taking profits this week, spread out your sells so you don't kick yourself over timing things poorly. Personally, I think we are in **unprecedented territory** and that there's no way all of the shorts have exited already, so we're not done. I could be wrong. See EndGame part 1. +* **Close spreads.** With every call ITM, you are at the risk of early-assignment. If you don't watch closely, you could be hit with sky-high hard-to-borrow fees and get killed on what you thought was a profitable trade. +* **Watch for ripple effects. This is already happening.** When funds get liquidated, they have to buy back all their other shorts (see AMC, BBBY) and sell their longs (look at BABA after-hours). Want to play GME without playing GME? Maybe throw a little $ at BBBY. You do you. +* In EndGame Part 2, I talked about potential investors, and how the higher price is gonna attract the bigger $. Today we saw Chamath, Winklevoss, and others. And then Elon tweeted and simultaneously stimulated the buying frenzy and scared the crap out of shorts. I'm just gonna copy what I said about this potentiality + * ***Elon****: (Least likely, completely improbable, but cataclysmic event). Elon hates shorts. Elon, with TSLA, went through the pain that GME is going through. TSLA almost went bankrupt because shorts were pushing the price down so it was difficult to raise the cash they needed to survive. Sound familiar?* ***Elon’s wealth swings more in a day than GME is worth in entirety.*** *Elon could* ***buy all the fucking float of GME with what he makes in 8 hours****. One call from fellow entrepreneur and* [*aspiring twitter-meme-god*](https://twitter.com/ryancohen) *would absolutely wreck the game.* + +1. ***If you are short gamestop****, you are one meme purchase by the richest man in the world away from a fucking cataclysmic event. "Hey son, I heard you like games. So I bought you gamestop. All of it." 🚀* + +&#x200B; + +&#x200B; +Checked my bank balance this weekend and noticed that over the course of the past 3 weeks using 6 transactions, starting on the 4th of February , someone has been pulling money out of my account and transferring it to some scam website. All of these were done through ACH transfers. + +At first, I figured it was someone I knew who has pulled shady shit before who might've gained access to my account or routing number but realized it might just be my computer that's compromised. + +I've closed/suspended all my accounts, contacted the merchant and my bank. The website basically said "tough shit, your loss" while my bank said they will conduct an investigation and give me a credit for the amount loss until they can determine whether I'm protected under their terms or not. They decided to break it up into two claims because the website operates under two different names (wtf?) for those specific transactions. + +I'm just wondering, am I screwed? This is my life's savings and thinking about how I might never see this money again is giving me an ulcer. + +EDIT: Bank is BoA + +&#x200B; + +EDIT 2 (3/2/21): +My investigation was resolved and I was able to get my money back! Took about two days for anyone seeing this in the future. I have to say, Bank of America did alright by me. + +I've frozen all my accounts and credit through the 3 bureaus and have an appointment with a detective tomorrow. + +For all of those who asked, I don't want to mention the site name because I don't want to get sued by them for something stupid but it's basically a currency exchange site where you can send payments anonymously. + +Thank you to all the people that sent me kind words either through this post or in PM's. No thank you to all the people that tried to scam me again in PM's +Hi guys. I’m in over my head and I hope you guys can give me some advice. This March, my husband and I started a renovation project on our kitchen and master bath. It has ended up costing more money than planned due to some issues discovered during demo. No big deal, we’ve been planning for this for 4 years. Just have to tighten the purse strings a bit and do more work ourselves. + +Then about 2 months ago, my husband lost his job as an internet technician. He was making $24/hr. I should also say that I am a chemist and I make $28/hr. The reno is costing us about $60k at this point (we did have to take out a loan for 30k which we are paying $700/mo on). We did refinance our home loan earlier this year so our mortgage is $750/mo now (it was closer to 1k before refinancing). + +My husband found a new job right away at a brewery (which was the plan once I was making the bacon anyways but that was going to be maybe next year…just bad timing). He makes $10/hr at the brewery. It’s okay I thought, we’re still in the green about 1k/month. + +Then I got home from a 3 day work trip today and he told me he got fired from the brewery. He applied for a better job at a different brewery in town, they contacted his current employer as a reference, his current employer fired him. + +At this point I don’t see how we’re not totally fucked. I am about to get a raise to $32/hr at work but unless he can find work ASAP, it’s not going to be enough. I need some new ideas. Our credit cards are almost maxed already and I recently balance transferred my credit debit to a new card at 0% apr for 18mo (something I hoped to never have to do). Our other big monthly bills are phone ($200), car ($230), and student loans ($170). + +I just don’t know what to do. We planned and scrimped and saved for years for our home improvements and life is just railing us hard all of the sudden. If all you guys can offer are words of support, that would even help a lot. + +TLDR; husband lost his job twice during expensive renovation and I am freaking out. + +EDIT: Thanks for all the advice! We had a long talk last night. I know my husband needs a job ASAP. Remember, he literally lost his job yesterday so he is looking. I talked to him last night about getting another technician job and doing Uber/Lyft. I’m going to talk to him again today and see what he’s applied for today. I hate that I’m going to have to be on his ass about it but he’s having a midlife crisis or something. This is of course having a toll on our relationship and I’m aware we have issues that go beyond the current situation. Also, we don’t have kids and live in the Midwest. It is frustrating and I was not okay with the $10/hr brewery job but he was happy and I wanted to be supportive. Also, selling the house is the very last thing we would consider doing, but I know it’s a possibility. +This is not about whether inequality is a problem or should be fixed. + +I am simply wondering about the mechanism. As far as I can tell, free markets and economic growth tend to coincide with or lead to massive wealth inequality. Why does that happen? + +I understand some people work harder, are smarter and also luckier than others. But shouldn't this balance itself out to a degree? As in, "regression to the mean" - even a successful man will likely eventually make worse or unluckier decisions and thus lose some wealth. Or: a successful business model will lead to a saturated market and competitors, thus eventually losing its edge. Or: a massive corporation eventually becomes stagnated and new, fresh competitors pull ahead. + +And yet, free markets seem to result in many, many billionaires, massive corporations, families that are rich for generations. What is the economic mechanism here? +[https://www.cnbc.com/2019/01/09/shutdown-highlights-that-4-in-5-us-workers-live-paycheck-to-paycheck.html](https://www.cnbc.com/2019/01/09/shutdown-highlights-that-4-in-5-us-workers-live-paycheck-to-paycheck.html) + +Government workers are far from alone in feeling stressed about not getting paid. Nearly 80 percent of American workers (78 percent) say they’re living paycheck to paycheck, according to a [2017 report by employment website CareerBuilder](http://press.careerbuilder.com/2017-08-24-Living-Paycheck-to-Paycheck-is-a-Way-of-Life-for-Majority-of-U-S-Workers-According-to-New-CareerBuilder-Survey). Women are particularly vulnerable: 81 percent of them report living paycheck to paycheck, compared with 75 percent of men. + +It's strange as there is Fed data that shows different story + + [https://www.cnbc.com/2019/07/20/heres-why-so-many-americans-cant-handle-a-400-unexpected-expense.html](https://www.cnbc.com/2019/07/20/heres-why-so-many-americans-cant-handle-a-400-unexpected-expense.html) + +Some 40% of Americans would struggle to come up with $400 for an unexpected expense. + +40%, not 80% +Those who have now multiple rental properties . How much personal money did you have at the time when you started your real estate journey ? +I’m asking because I’ve heard many people who are now multi millionaires saying that they started with almost nothing . +I'm sure some of you, like me, follow WSB and other places, if for nothing more than entertainment. It got me thinking about Gamestop today. I'm mildly annoyed with myself that I didn't do the legwork to understand it when I looked at it in 2019. Being the lazy person I am I saw eh, weak/negative earnings history, outdated business model, and didn't put any more effort into it. I typically don't pay any attention to short percentages. The concepts in play aren't especially hard to understand, and when at that time it was in the $2-5 range it was not unreasonable to think it had a lot more upside than downside, especially with the console cycle coming, even without the benefit of the short pressure. + +I'm not much into these kinda of asymmetric longshots with potentially huge upsides, because they tend to get into distributions, probabilities, long-tails, the weakness in black-scholes, all that jazz. I get it on a macro concept level but my math skills revolt and my brain ends up saying too hard, too easy for you to be wrong, leave it alone. Looking back when Gamestop was at $2 with the balance sheet strength it had left and the amount it was shorted at the time, this was a real wide-margin intelligent speculation. A speculation, but one with heaps of implied upside. Whether I could have held on throughout the unknowns of the pandemic, I don't know. And if congress hadn't acted or the fed acted differently, who knows. The outcome could have been very different. + +But now is a very different story. The stock isn't $2 anymore, it's $100 or $200, depending which minute of the day your ticker updates. The proposition has changed, not just for the next speculator looking to buy in, but every earlier speculator who already took a position. + +So what's a person to do who did take a flyer and gamble on it, or recognized the opportunity early and levied an intelligent speculation? How do you decide when it's time to cash your golden ticket and call your accountant. This is a classic prisoner's dilemma. Assuming the float reported is still accurate, and there is more than 100% of the outstanding shares sold short, then naked short selling has occurred and the short positions are really in the ditch. Last report I read, shorts borrowed several billion dollars to meet margin requirements and pray the GME holders flinch soon. + +Logically there has to be a ceiling, some price at which the last dollar is be extracted from the richest short seller, after which their lender of last resort has refused, and the bankruptcy's begin. Price appreciation beyond this is simply the greater fool chasing a story. I don't think there's a way to determine this empirically, since even if you could get all the necessary numbers and guarantee they were accurate, and you could nail down appropriate probabilities and the accompanying profit margins from each scenario, this involves not only a lot of human psychology but a good deal of politics, propaganda, lawyerly wrangling and the potential for backroom dealings. Not exactly the stuff of certainty or traditional value investing, but fascinating (to me, at least) as a spectator. This is a prisoner's dilemma. + +Every person who now owns GME long is a prisoner, and every short seller is a prison guard. As long as the prisoners stick together, up to the limit of bankrupting the collective short sellers the squeeze should continue and increase the collective payout. But as soon as the guards are able to flip a big enough holder or enough small holders to knock over that first domino, the formula tips and the second domino caves in, and so on down the line. This is the basis of the theory Malcolm Gladwell outlined in The Tipping Point. So each holder has to consider his or her own selfish interest of cashing out now before that occurs, versus the risk/reward of betting that the group isn't going to tip yet and staying in for a greater amount of price pressure upward, hoping they aren't left to catch a falling knife later. + +When is it going to tip, at what price, and how much yoyo action might occur in the meantime, before the final short is settled. I wouldn't even pretend to try and model this. That's Nassim Taleb territory, higher probability mathematics. I'd be fascinated to read about it, but not my bag. + +It did get me thinking about options. Is there an opportunity to buy a put option cheaply right now, which might possibly be priced very improperly at this moment. I don't know if one month is far enough out, but things seem to be moving reasonably fast now, so perhaps the dust is settled by then. If you could spend cheaply enough to buy a put option to sell at say $50 a month from now would that constitute a intelligent asymmetrical bet? At some point the shorts will either be liquidated or cover, the "ryan cohen" die-hard believers may stay for the turn around story, but the price pressure is off and all the gamblers start heading for the exits so they can participate in the next gamble. The prisoner's dilemma domino's will start falling. Even if the price eventually settled higher, the downward swing might very well spike down well below $50, or less, during this time. + +Looking at cnbc's put options for Feb and March the answer for me was no. Prices look too high for comfort, a lot of people smarter than me have probably already considered this and driven the price up, perhaps as hedges or speculations in the same vein as outlined above. I don't have the skill to figure out at $7 if a $40 PUT option one month out is an intelligent speculation to pick up, so for me it would still just be gambling. If that same put was 75 cents, I could accept it's likely at least a smart speculation, and if not it's cheap enough to take a flyer on. At $6 to $7 I can't. Long tails and options are a fascinating world. Shame I didn't pay more attention in math class. + +Curious who else has been ruminating on this, if you have any other perspectives. +Welcome to the ETH Daily Discussion thread of /r/EthTrader. + +*** + +The thread guidelines are as follows: + +- All sub rules apply here. Please review our **[rules page](https://www.reddit.com/r/ethtrader/about/rules)** to become familiar with them. The rules page is also linked in the announcement bar above. +- General discussion topics include, but are not limited to, events of the day, technical analysis, alternative Ethereum projects, or support issues. +- Breaking news or other important content should be submitted as a separate post. +- In-depth altcoin discussions should be referred to the /r/CryptoCurrency discussion thread. To view the thread, [follow this link](https://www.reddit.com/r/CryptoCurrency/search?q=%5BMonthly+General+Discussion%5D&restrict_sr=on&sort=new&t=all) and choose the latest entry on the search page. +- Pumping, venting, trolling, or any other similar behavior **should be reported** and redirected to the /r/CryptoMarkets trollbox thread. To visit this thread, [follow this link](https://www.reddit.com/r/CryptoMarkets/search?q=Trollbox+Thread&sort=new&restrict_sr=on&t=all) and choose the latest entry on the search page. + +*** + +* For newcomers who have basic questions about Ethereum, you can find answers by visiting /r/EthereumNoobies or our [Ethereum Education wiki page](http://bit.ly/2rMAXmq). + +* **[EXPERIMENTAL]** - To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Thank you in advance for your participation. Enjoy! + +Check out the Flippening website. Google searches for Bitcoin dwarf Ethereum. + +The whole market is linked to Bitcoins reputation, and we are going to dip while it falls away. The next rise will be based on our legitimate value, rather than their beautiful but fundamentally flawed vision +Whenever you look online, everyone has all of their reasons why dividend stocks aren’t good, why investing in strictly mutual funds that pay a much smaller dividend yield is the way to go, that you shouldn’t be investing in dividends, etc. How do you cut through the noise and actually decide to go all in with dividends? I feel that so many people that fight against dividends are looking for long term net worth growth, where as I’m just looking for financial independence and to create a passive income. + +Also, how do you fight off the pessimism that creeps in saying it will take you your whole life to invest enough to have enough dividends to matter? +🎉**Welcome to SafeGem Finance!**🎉 + +&nbsp; + + **Progress on all fronts:** + +&nbsp; + +- Total facelift for the brand: new logo, new website, and OWN crypto-verse +- OWN Mobile app in progress: SafeGem wallet+crypto education +- NFT Launchpad progress: First NFTs minted that will serve as digital certificates for GEMS +- Business case validated with top jewelry and precious stones dealers + +&nbsp; + +**From the devs**: “We worked really hard since launch to deliver on all fronts. All elements of the SafeGem ecosystem are being worked on, while keeping close contact with the community!” + + +&nbsp; + + + +📱 Telegram: t.me/safegemtokens + +💎 Website: safegem.finance/ + +🍰 PancakeSwap link [Use V1]: v1exchange.pancakeswap.finance/#/swap?outputCurrency=0xdfdec49462f7d3c3b0a48e729f77a0645cdfa7c0 + +🔗 Contract address: 0xDfDec49462f7D3C3b0A48E729F77A0645CDFA7c0 + +📈 Chart: poocoin.app/tokens/0xdfdec49462f7d3c3b0a48e729f77a0645cdfa7c0 + +🦄 Medium: safegemfinance.medium.com + + + +&nbsp; + + +**Project summary and features** + +&nbsp; + +**SafeGem is a deflationary, yield generation protocol, with a validated real-world use case**, that holds the key to revolutionize an entire industry, by providing a **never-seen-before authentication procedure for jewelry and precious stones in the blockchain through NFTs.** The SafeGem team is targeting top jewelry and precious stone dealers, and their business strategy is detailed in their latest medium article: +safegemfinance.medium.com/safegem-updates-and-business-case-70d3569e3283. + + +&nbsp; + + +**WHAT ELSE IS SAFEGEM OFFERING:** + +- 6% Fee on each transaction will be distributed among all holders + +- 5% Burning percentage of each transaction + +- more than 60% of total supply burned + +- Liquidity Locked for 1 year + +- Dev wallets locked for 2 months with gradual vesting times + +- Dev team with more than 10 years of experience that continuously works on our product + +- Big plans for the future, more changes coming up + +- More than 10.000 holders, 6.000 Twitter followers + +- Various marketing efforts through influencers + +- High-level team engagement + President Joseph Biden signed an executive order directing the Centers for Disease Control (CDC) to [extend its federal eviction moratorium through March 31.](https://www.abc15.com/news/national/bidens-executive-orders-will-extend-student-loan-pause-rejoin-who-stop-border-wall-construction) + +The protections had been set to expire January 31. +I work at a cafe which struggles to find people competent enough to hire. It isn't a hard job so anyone really with half a brain can do it but we can't find staff and the staff we do find are usually 16-17 year old school dropouts who aren't the brightest, but it'll do. Many of my customers are business owners who also say that struggle hard finding staff and it seems like no one wants to work. + +I'm no economist but I'm trying to figure out what this means for the our economy. Too many jobs with too little workers sounds like it could be a booming economy, but surely that wouldn't be right with how stagnant things are currently with things casually getting worse. + +Long story short, what causes this and what can this employee shortage mean for the future +UPDATE: + +After a level headed discussion with a supervisor from PM, he explained that my escrow was reassessed in January and the amount increased. Because I didn’t change my bill pay to reflect that, I was essentially short $18.09 every month since March. The money went into a “holding account” until I could make a full payment each month. So this past month, the money was released which is why my credit score took a dip all at once, instead of at intervals after each months shorted payment. + +I’d like to say I would’ve caught it after the first month when my credit took a dip, but still, I’m feeling rather foolish for not paying closer attention. + +Thank you all for your kind words and suggestions. Lesson Learned + + + + +As the title suggests, I received an email this morning saying PennyMac sent my loan to collections for late payments. I’ve never missed a single one. I was fortunate to not have been affected by COVID in terms of employment so I chose to continue making payments. + +As a result, my TransUnion Credit Score dropped a ridiculous 130 points. I’m planning on filing a dispute, but was curious if anyone had any experience fighting something similar and what should I expect. + +Any tips on what to have prepared, or anything to send in would be appreciated + + +Cheers +Berkshire slashed its stake in Verizon Communications (VZ) by 99%, reducing its holdings to just 1.4 million share from 159M. + +I feel kind of disappointed, I was about to enter VZ next week! + +Does this move change your thoughts on VZ? + +Would love to hear your thoughts. +&#x200B; + +So, its been another fortnight of mayhem, chaos and disorder in our perverted little corner of the Reddit Universe. + +The [Red Moon](https://7news.com.au/technology/space/super-blood-moon-2021-how-to-see-total-lunar-eclipse-and-best-times-across-australia-c-2926039#:~:text=%E2%80%9CBecause%20of%20the%20reddish%20colour,called%20a%20%E2%80%9Cblood%20moon%E2%80%9D.&text=%E2%80%9CAs%20the%20moon%20perfectly%20centres,sunset%20lighting%20up%20the%20moon.%E2%80%9D) seemed to get you all cray cray in the daily for a bit there...... + +&#x200B; + +Oh, before we get started a little reminder about [Rule 11](https://www.reddit.com/r/ASX_Bets/comments/nr3ckv/a_reminder_about_rule_11_alternative_bets_and/?utm_source=share&utm_medium=web2x&context=3) and the gambling criteria at the r/ASX_Bets table. + +&#x200B; + +Anyhow, we have a shit load to get through, plenty of new business, more than a few accounts that came Due at the End of **May**, so pour out your favorite mixed beer shoey and lets dive in...... + +&#x200B; + +**HOWEVER**.... + +*Before we begin, Lets pause an observe a moments silence for our resident taco,* u/tacomaster33, who has left us recently to devote time to less Autistic enterprises. + +*Taco is one of the earliest users on the sub, who fought the good fight when trying to convince you all to* ***YOLO*** *your job-keeper into slightly less degenerate stonks, posted up great DD and legit discussions on actual relevant topics.* + +&#x200B; + +*I have spoken to the taco at length, he will continue to lurk the dank corridors of Reddit and I'm sure you'll hear from him again.* + +&#x200B; + +*Good luck with the other ventures, salute to one of* r/ASX_Bets *OG's.....* + +&#x200B; + +&#x200B; + +https://preview.redd.it/87av7cqbnl271.jpg?width=480&format=pjpg&auto=webp&s=e14881dc091119f550912e72edac7004a3b70b97 + +&#x200B; + +&#x200B; + +**UPDATES:** + +&#x200B; + +&#x200B; + +\- u/jockr64 has come through on the [Charity Donations](https://www.reddit.com/r/ASX_Bets/comments/nlwu6e/sya_opening_sp_charity_donation/?utm_source=share&utm_medium=web2x&context=3) based on their **SYA** Opening Price Competition. Well done for following through, **Mods** respect all the Donations that come via our little Sub. + +&#x200B; + +\- u/TradeTragic has also come good on their [Donation Pledge](https://www.reddit.com/r/ASX_Bets/comments/nobmwl/vms_didnt_hit_15c_so_donated_10080_or_the/?utm_source=share&utm_medium=web2x&context=3), another fine example of Autism done right.... + +&#x200B; + +\- u/ElevatorRabbit has come through with some lovely [Loss Porn](https://www.reddit.com/r/ASX_Bets/comments/ni5ajy/all_my_doggies_lined_up_at_the_kennel/?utm_source=share&utm_medium=web2x&context=3). + +&#x200B; + +\- u/itsdankreddit bought a [TESLA.](https://www.reddit.com/r/ASX_Bets/comments/nhm2d9/lke_ban_bet_i_bought_a_tesla/?utm_source=share&utm_medium=web2x&context=3) + +&#x200B; + +\- u/Fun_Understanding_21 has released [Part 2](https://www.reddit.com/r/ASX_Bets/comments/nju9ls/if_you_bought_rasx_bets_dd_stocks_and_sold_them/?utm_source=share&utm_medium=web2x&context=3) of their r/ASX_Bets tracking series, takes a look at the highest/lowest % gains since the initial **DD** was posted on the Sub. + +(***I*** *{****C****an/****O****ften}* ***U****sually avoid pointing this out, but it feels like something is maybe missing from the list, something some lonely Autist posted a* ***DD*** *on a long, long time ago that topped out at a* ***2475***% increase if you sold it at the right time...) + +&#x200B; + +\- [u/DA12kL0rD](https://www.reddit.com/user/DA12kL0rD/) has been upping the shit-post game, with a [Lord of The Rings](https://www.imdb.com/title/tt0120737/) inspired [video effort](https://www.reddit.com/r/ASX_Bets/comments/nnjuuh/help_what_stock_should_i_buy/?utm_source=share&utm_medium=web2x&context=3). Not to be outdone, a single frame [Shit post](https://www.reddit.com/r/ASX_Bets/comments/nqaiwd/never_forget_how_far_youve_come/?utm_source=share&utm_medium=web2x&context=3), courtesy of u/vanillaflyweight, is one of the better ones I've seen for a while. + +&#x200B; + +\- u/StinkyFatWhale agreed to do some weird things if **LRS** [released and after market announcement](https://www.reddit.com/r/ASX_Bets/comments/nmky10/market_open_thread_for_general_trading_and_plans/gzq4glf?utm_source=share&utm_medium=web2x&context=3). Apparently they didn't, so no Whales were harmed in the following through of all the weird shit that's in the link..... + +&#x200B; + +\- **Mods** put up a post with an open invitation for anyone who [Wants their Personal Flair](https://www.reddit.com/r/ASX_Bets/comments/nleiso/personal_flairs/?utm_source=share&utm_medium=web2x&context=3) explained to them, or to hear the story behind a **Flair** they may have seen. + +&#x200B; + +&#x200B; + +**NEW BETS:** + +&#x200B; + +&#x200B; + +\- u/Crashworx stated they will buy a [TESLA](https://www.reddit.com/r/ASX_Bets/comments/nhm2d9/lke_ban_bet_i_bought_a_tesla/gz0azr1?utm_source=share&utm_medium=web2x&context=3) if **VML** ever goes above **25c** + +&#x200B; + +\- u/Dark_Raiden_ has a running [PUR vs VML](https://www.reddit.com/r/ASX_Bets/comments/nm2gyt/premarket_thread_for_general_trading_and_plans/gzmetbq?utm_source=share&utm_medium=web2x&context=3) bet going. + +Short story is its a race to the **9c** or **7c** line respectively, with caveats for NI pumps, other bans being enacted, possible Lizard man invasion etc... + +Its complex, read the link for details. + +Also, u/Dark_Raiden_ I'm going to need a loud, gloat filled '**FIRST**!!' with a tag when whoever ends up winning actually wins... + +&#x200B; + +\- u/AngryTennisDad has a drinking bet with an element of class attached, banking on [EXR touching .40 by Friday June 4th](https://www.reddit.com/r/ASX_Bets/comments/nkbwb3/market_open_thread_for_general_trading_and_plans/gzd3aho?utm_source=share&utm_medium=web2x&context=3) or they will down a [White Russian](https://en.wikipedia.org/wiki/White_Russian_(cocktail)) Shoey. + +Tick Tock........ + +&#x200B; + +\- u/maybethough is betting on Helium to rise, backing **RLT** to hit [$3 on or before June 30th](https://www.reddit.com/r/ASX_Bets/comments/njklkl/market_open_thread_for_general_trading_and_plans/gz8wsm6?utm_source=share&utm_medium=web2x&context=3) or it will be a month in the shadowland. + +&#x200B; + +\- A new bear bear has emerged from the woods, u/Coloneloscoppy. + +User has a running bet with the **Mods**, stating that their [Their BBUS](https://www.reddit.com/r/ASX_Bets/comments/njpq0p/us_market_crash_incoming_i_doubled_my_bbus_holding/gz8q6sm?utm_source=share&utm_medium=web2x&context=3) purchase will be above the buy price of $**1.2575** by the End of **August** or they will accept a years ban. + +&#x200B; + +\- Jumping into the reverse bear position is u/AureusStone, with a standing bet that if u/Coloneloscoppy ever sells their **BBUS** for a profit, they will accept a [Months ban](https://www.reddit.com/r/ASX_Bets/comments/njpq0p/us_market_crash_incoming_i_doubled_my_bbus_holding/gz8pyil?utm_source=share&utm_medium=web2x&context=3). + +&#x200B; + +\- u/StinkyFatWhale is back in the gamblers area, this time with a [TPD + Donation thing](https://www.reddit.com/r/ASX_Bets/comments/nj30l5/premarket_thread_for_general_trading_and_plans/gz7uqnk?utm_source=share&utm_medium=web2x&context=3). + +Its detailed, but its also pretty cool so check the link. + +&#x200B; + +\- u/dunny29 has popped the betting cherry, with the odd claim that they will [Adopt a Penguin](https://www.reddit.com/r/ASX_Bets/comments/nja7t5/ffx_firefinch_dd_26_week_plan_targeting_a_50_gain/gz7wfbv?utm_source=share&utm_medium=web2x&context=3) if **FFX** touches **69c** by **EOFY**. + +Let the record show that Coup's and dodgy governments will not stop the Penguins thriving. + +&#x200B; + +\- u/Blisser_the_Sniff stated **IMU** would be [15% lower](https://www.reddit.com/r/ASX_Bets/comments/nkkbsf/premarket_thread_for_general_trading_and_plans/gzdf0tc?utm_source=share&utm_medium=web2x&context=3) than $0.445 by **Monday,** successfully predicting its dip. + +&#x200B; + +\- u/helloclaire made a bet [signed in blood](https://www.reddit.com/r/ASX_Bets/comments/njklkl/market_open_thread_for_general_trading_and_plans/gz904j1?utm_source=share&utm_medium=web2x&context=3) stating **VML** would close at least **5%** up after a trading halt. + +\- u/fishman101 [got in on the bet](https://www.reddit.com/r/ASX_Bets/comments/njklkl/market_open_thread_for_general_trading_and_plans/gz95as3?utm_source=share&utm_medium=web2x&context=3) + +\- u/GlitteringFuntion5 [made it a 3 way](https://www.reddit.com/r/ASX_Bets/comments/njklkl/market_open_thread_for_general_trading_and_plans/gz97yln?utm_source=share&utm_medium=web2x&context=3) + +\- u/SirSithsalot [made it an awesome foursome bet](https://www.reddit.com/r/ASX_Bets/comments/njklkl/market_open_thread_for_general_trading_and_plans/gz908qm?utm_source=share&utm_medium=web2x&context=3) + +Let the Record show the bet was won, with **VML** closing **9.62%** in the green. + +&#x200B; + +\- u/check_meat bet a months ban **TLG** with be $1.8 [by the end of June](https://www.reddit.com/r/ASX_Bets/comments/nlbgyy/premarket_thread_for_general_trading_and_plans/gzhriz1?utm_source=share&utm_medium=web2x&context=3). + +&#x200B; + +\- u/Rosencrantz1710 has caught the gambling bug, this time around with a [Complex portfolio wager](https://www.reddit.com/r/ASX_Bets/comments/nq851w/market_open_thread_for_general_trading_and_plans/h0a35le?utm_source=share&utm_medium=web2x&context=3). Its due **June 30th**, or its a week in r/ASX_banned... + +&#x200B; + +\- u/WistfulWhiskers has bet **MAN** will be **40c** by the end of June or the will do an [improvised milk keg stand](https://www.reddit.com/r/ASX_Bets/comments/npoqxs/premarket_thread_for_general_trading_and_plans/h06hkie?utm_source=share&utm_medium=web2x&context=3) + +&#x200B; + +\- u/reecej_nz continues to lure people into their [bet](https://www.reddit.com/r/ASX_Bets/comments/monb6t/dw8_ceo_dean_taylor_interview/gu5759i?utm_source=share&utm_medium=web2x&context=3) with u/Bigfoot2077 [agreeing](https://www.reddit.com/r/ASX_Bets/comments/nqznu5/what_a_ride_lets_hope_its_a_half_pipe/h0dspvx?utm_source=share&utm_medium=web2x&context=3) and u/WowVeryJosh [following suit](https://www.reddit.com/r/ASX_Bets/comments/nqznu5/what_a_ride_lets_hope_its_a_half_pipe/h0enkwv?utm_source=share&utm_medium=web2x&context=3) , u/ssTilley [also agreeing](https://www.reddit.com/r/ASX_Bets/comments/mwp3vc/scam_dreams_ziptards_unite_a_mutated_mission_bans/gvmw063?utm_source=share&utm_medium=web2x&context=3) to be in on the madness.... + +&#x200B; + +&#x200B; + +**POLLING TIME** + +&#x200B; + +&#x200B; + +\- u/heavy798 bet that **POG** will touch **$2000 USD** by **August 30th** or [3 month ban](https://www.reddit.com/r/ASX_Bets/comments/njslv8/premarket_thread_for_general_trading_and_plans/gz93rxj?utm_source=share&utm_medium=web2x&context=3). + +However, some drinks were had and some words were said, resulting in an [Alternate option](https://www.reddit.com/r/ASX_Bets/comments/njslv8/premarket_thread_for_general_trading_and_plans/gz95lsk?utm_source=share&utm_medium=web2x&context=3) for the bet. + +So we leave it to the good folk of r/ASX_Bets to decide. + +Below you will find a poll with 2 options. + +&#x200B; + +If they lose the bet, u/heavy798 will: + +*- Accept a 3 month ban* + +or + +*- Mow their lawn in a Golden Speedo. Video Proof required.* + +&#x200B; + +Vote below............ + +&#x200B; + +&#x200B; + +**BANS** + +&#x200B; + +&#x200B; + +\- Before we get started, I'd like to take a moment to acknowledge u/FameLuck and their truly grotesque, but very well produced, [shoey effort to extend a bet deadline](https://www.reddit.com/r/ASX_Bets/comments/noozhu/fameluck_shoey_warning_ginger_face_reveal/?utm_source=share&utm_medium=web2x&context=3) on the **BPH** Approval. + +That's a lot of effort to avoid a Paddlin and as a result this ginger degenerate has earnt a 3 month extension... + +&#x200B; + +**-** All the bans from [Last Time](https://www.reddit.com/r/ASX_Bets/comments/nhlpe2/an_ode_to_the_damned_bans_and_updates/?utm_source=share&utm_medium=web2x&context=3) have been handed out. + +[*u/\_PixelRage*](https://www.reddit.com/u/_PixelRage/)*,* [*u/Jcit878*](https://www.reddit.com/u/Jcit878/)*,* u/keivan1375, u/PianistDesigner1423, u/ChalkyAus*,* u/Rookieblud will all be sent to the Shadow World this evening for various lengths, ranging from **1 week to 1 year**...... + +&#x200B; + +\- u/UhOhNoOnion had a bet that **LOT** will [touch 25c](https://www.reddit.com/r/ASX_Bets/comments/npoqxs/premarket_thread_for_general_trading_and_plans/h069w3f?utm_source=share&utm_medium=web2x&context=3) by **June 4th** or its a **3 Month holiday**. + +As with all touching, we can only hope its inappropriate, its a 3 month sojourn for you to r/ASX_banned. + +&#x200B; + +\- u/Mundane_Document8765 had a bet for **PUR** to hit 9c today [or a weeks ban](https://www.reddit.com/r/ASX_Bets/comments/nqzv6s/market_open_thread_for_general_trading_and_plans/h0evyiz?utm_source=share&utm_medium=web2x&context=3) + +&#x200B; + +\- [u/meragy](https://www.reddit.com/u/meragy/) has been banned for a **month** for failing to come good on results from the [Portfolio Challenge](https://www.reddit.com/r/ASX_Bets/comments/k3rpvm/daily_thread_for_general_trading_and_plans_for/ge50gre?utm_source=share&utm_medium=web2x&context=3), robbing the other competitors the chance at glory via a **DLC** purchase. + +&#x200B; + +\- u/Logicorluck bet **Z1P** [would close green](https://www.reddit.com/r/ASX_Bets/comments/nmky10/market_open_thread_for_general_trading_and_plans/gzp9pr2?utm_source=share&utm_medium=web2x&context=3) losing the bet by **3** cents locking in a **weeks** ban + +&#x200B; + +\- u/poimnas bet that [EXR finishes May within 32 - 38c](https://www.reddit.com/r/ASX_Bets/comments/njslv8/premarket_thread_for_general_trading_and_plans/gz9444e?utm_source=share&utm_medium=web2x&context=3) or week ban. + +Let the record show that closing price end of May was **0.235**... + +Ouch, its a week in Plucky land for you.... + +&#x200B; + +\- u/_Smoulder_ will take a weeks ban if **RAC** closes above $**3.42** Monday the 31st + +Let the record show they got cucked by **1c**, its off the the land of the damned for you......... + +&#x200B; + +\- u/here2FuckSpiders2 owes us some [house deposit](https://www.reddit.com/r/ASX_Bets/comments/npgnln/market_open_thread_for_general_trading_and_plans/h05kng7?utm_source=share&utm_medium=web2x&context=3) loss porn.. + +Tick fuckin tock.... + +&#x200B; + +\- u/nickmann owes us some **IMU** [proof](https://www.reddit.com/r/ASX_Bets/comments/nhkrnd/imu_to_the_moon/gyww30f?utm_source=share&utm_medium=web2x&context=3). + +Take note all, that [deleting your post](https://www.reddit.com/r/ASX_Bets/comments/nhkrnd/imu_to_the_moon/?utm_source=share&utm_medium=web2x&context=3) does **NOT** get you off the hook. + +What it does get you is extra time added to the ban if you don't come through... + +&#x200B; + +\- u/AdHot6827 promised us some [juicy loss porn](https://www.reddit.com/r/ASX_Bets/comments/mzbigt/market_open_thread_for_general_trading_and_plans/gw0by3g?utm_source=share&utm_medium=web2x&context=3) by the end of **May** in the event they lost their [Bet.](https://www.reddit.com/r/ASX_Bets/comments/mzbigt/market_open_thread_for_general_trading_and_plans/gw0by3g?utm_source=share&utm_medium=web2x&context=3) + +Contact has been made, yet we see no loss Porn. + +The end result is the terms they suggested in the original post - **3 year ban** + +&#x200B; + +&#x200B; + +**TLDR** + +&#x200B; + +'' όχι, χρησιμοποιώ το Διαδίκτυο '' - u/catch-10110 + +&#x200B; + +'' προσπάθησα πάρα πολύ για αυτό '' - u/Iamgaybear + +&#x200B; + +(Fuck knows what it says, I copy/pasted them from the daily......) + +&#x200B; + +Later c........... + +&#x200B; + +[View Poll](https://www.reddit.com/poll/nry9a9) +* GDP contracted 23.9% in the past quarter +* Supposedly the first contraction in 4 decades + +More details to be added + +edited with details.. + +* Trade, hotels, transport and communication saw 47% dip +* Manufacturing shrank 39.3% +* Construction shrank 50.3% +* Mining output shrank 23.3% +* Electricity and gas shrank 7% +* Bright spot - agriculture, growing at 3.4% + +But please have a sense of proportion - half of the quarter saw a near-full lockdown in India. So things don't have to all gloom and doom. +I love to read Annual and Quarterly Reports since they tell you the most of a company and let you build an overall picture of a business. + +However I could only always read them on Desktop, since they were clearly not optimized for Mobile consumption. Whenever I was waiting somewhere and felt like doing something productive I tried to read reports on my phone but it always felt like still wasting time since the hardest part was to actually read the lines. + +Therefore I created Stox a free iOS App that fetches SEC Reports and makes them adaptive to Mobile Devices. It’s super easy to read reports of all Public US Companies with it. + +Also I plan to add push notifications on custom stocks whenever they publish a report in a few weeks as well as extracted tables of balance sheets, cashflow and income statements. + +I am constantly trying to improve the tool so I would appreciate every feedback or feature request I can get. + +[Stox Download Link](https://apps.apple.com/at/app/stox-financial-reports/id1516151607?l=en) +When reading this sub recently, I noticed that a lot of people have probably flooded in because they want to take advantage of the dip in prices due to COVID-19. + +However, I think that has caused a lack of knowledge when it comes to stocks. i.e. How a market works, dividend stocks, intrinsic value of stocks, the causes and acceptance of fluctuations etc. +I think this is causing a bit of fear uncertainty and doubt amongst us all. +I'm not saying this is everyone but I just felt a few people in this sub haven't done their research. + +I recommend Khan Academy for more research into how a market works, and then doing deep research into companies before investing. +*EDIT added budget details + +My fiancé and I got serious about paying off our combined debt of over $120,000. So in 2019 we decided we would organize our debts. We took a really hard look at our spending and found *so many* holes in our budget where money would “leak out”. (Fast food being the biggest culrpit, damn you Chik-Fil-A) + +Our combined income is $5,000 a month. Rent/utilities/phones $1000 car payments/insurance are $1000, gas is $250 and $250 for food (almost all home cooked meals). + +That left us with $2500 to work with to make payments. + +$120,000 divided by $2,500 = 48 monthly payments to be debt free. That is how we set our goal in November 2019 to be 100% debt free in November 2023. + +We both took on extra work so I would say the extra income averaged around $500-$1500 a month. (That about covered the interest on the $120,000 debt) + +We organized our debts in order of smallest to largest, and calculated what was the biggest payment we would be able to make on the smallest debt. We made minimum payments on everything else. + +The $120,000 debt was in six accounts: + +$2,000 cc debt + +$3,000 cc debt + +$10,000 car loan + +$20,000 car loan + +$25,000 student loan + +$60,000 student loan + + +As humans, reaching goals provides a serotonin boost to the brain that pushes you to keep going. + +As we paid off the smaller debts off, the benefits were twofold: we got a motivation boost from crossing off a debt on our list, AND are now able to use the payment we used to make for that debt and roll it over to attack the next debt in line! + +We got so motivated by seeing our progress that we found other ways to earn money to make even bigger payments. + +I took on as much overtime as possible at work and because I learned another skill I was able to work Saturdays in another department. I also sold coins and trading cards some Sundays at the local flea market. + +My fiancé worked part time as an RN but work was super stressful even as part time. So she drove for Lyft to make extra income. + +We are now ahead of schedule by **two years** and are on track to be debt free by September of this year! + +Believe me, this journey was not easy. + +This is the personal journey my fiancé and I had growing up poor and not learning financial fundamentals and ending up with a $120,000 debt at 26. +Yes, I know it’s vain. Yes, this is an alt. + +I’m interested in non-invasive or minimally invasive treatments that actually work. In the future I may be open to plastic surgery, but not for a few decades. There is so much on the market and frankly, most of it just seems like a cash grab. + +I’ve worked really hard over the last decade to get to where I am. I’m 34. I’d like to preserve whatever youth I’ve got left and take care of myself now. And yes, I do work out and eat healthy. +Title edit: and I’m ok with that + +This isn’t a post that I’m trying to complain or whine. I’m content with the realization that I won’t realistically retire much before I’m 65. With that in mind, I’m going to be making a major change to my life. + +Current info: + +Married, single income with 5 kids + +Gross pay 65k, living frugally to save about 15%. Employer provided health insurance with a $2k out of pocket max + +However, I live 87 miles from work and have been driving that trip for far too long. This commute is costing me nearly $9,000 and 750 hours per year. + +I also work the afternoon shift and don’t get home from work until nearly 2am. Getting up at 7am is rough. + +So time for a change. + +My mother in law owns a business that she is ready to reduce the amount of time that she is working and has offered me a job running the store Monday - Friday during regular hours. She is working on figuring out health insurance and has always helped us out in the past. We will have to move across the state, but being less than 10 miles from work is now a very real possibility, making the pay cut much easier to handle. + +This isn’t really the epitome of independence, but I’m tired of being tired and burning through cars. Driving 3 hours a Day is insanely wearing. + +Anyways, thanks for reading and I’m happy to answer any questions/criticism. + +TL;DR - taking a 24% pay cut to drop a 188 mile daily round trip commute so I can enjoy my wife and 5 kids instead of just getting through each day like a zombie. + + +Edit. Thanks for the (mostly) positive comments. To me, my family is the priority and having the chance to have my own business and be home with my children is the goal. + +The likelihood of Lowe’s/HD moving in and pushing out the business is very low. I’m familiar with the area and the closest “big city” is Marquette, MI + +There are other opportunities for supplemental income. + +I��m done selling my life to an employer, I want to be with my family. + + +My wife and I are in our mid 20s. We have 2 kids and live in a MCOL part of the country. Combined, our salary is $120,000 a year and we get $15,000 in bonuses. Our monthly income (not including bonuses) is a little over $8,000 a month. Currently we are saving $4,000 a month in a combination of 401k, Roth IRAs and taxable accounts. In addition, our bonuses typically go 100% toward our taxable account. At this time, we have right at $180,000 in retirement and non retirement investment accounts. I was looking at a compound interest calculator, and with a 10% rate of return, we would have over a million in investments by 35 even if we cut our monthly savings to $3000 a month. We don’t really have a desire to FIRE. I feel like we save more as psychological safety net (both came from parents that were bad with money). We don’t bypass life as it is, we have taken 2 vacations this summer and are going on another this month and we do things as a family basically every weekend. But, we do have times that we will tap the budget for the week and skip small stuff like going to a movie or a dinner out together and it feels weird to say “we don’t have the money for that” when the money is in our savings. Should we cut down on the savings and put a little more into living life? +>Twenty two Indian startups and investors have urged PM, Narendra Modi, to allow start-ups to directly list abroad.  +> +>The signatories to the letter to the PM include unicorns such as Byju’s, Swiggy, Cred, Bharat Pe, and Urban Ladder, and heads of many investment firms who have invested in Indian startups.  +> +>Calling it the “single most significant big bang reform for the start-up ecosystem”, they have argued that an overseas direct listing would raise the profile of these startups, make greater capital pool available to them and allow specialised investors to invest in these companies -- especially in sectors such as Software as a Service (SaaS), InsureTech (insurance technology), Business to Business (B2B) logistics, Genomics and Biotechnology. + +[https://www.vccircle.com/allowing-startups-to-list-abroad-will-produce-multinational-giants-startups-to-pm](https://www.vccircle.com/allowing-startups-to-list-abroad-will-produce-multinational-giants-startups-to-pm) +The most important post of this week is IMHO: [SR-NSCC-2022-801 is the new SR-NSCC-2021-010💡](https://www.reddit.com/r/Superstonk/comments/u7bwvf/srnscc2022801_is_the_new_srnscc2021010/), because MOASS is threatened again by bad actors. + +I won’t go into detail which posts I consider forum sliding, but let’s just say we need to comment on this new proposition to prevent it. +Ive lived in 3 states, 3 major cities since covid 19 hit. (technically 4 because I had just moved out of a city right before covid). Property prices are bonkers in most places right now. + +I have seen people from tech cities blow past the real estate boom with no problem as they take money from high COL to low COL and are easily able to handle the 20-30% price jumps. + +I then see lots of middle class people and young couples say they are going to wait for the next few years for the market to correct. My question is, how can the market see a worthwhile correction if there is enough demand/hungry bottom feeders ready to buy/waiting to buy at the slightest drop? + +&#x200B; + +For personal reasons I ask this question because I want to buy a vacation home/investment property in austin tx, and I feel there wont really be much of a correction, because millions of other people are ready to rush into the demand curve the moment we see a slight drop in property prices. +> China said Friday that it will impose new tariffs on $75 billion worth of U.S. goods and resume duties on American autos. + +> The State Council's Customs Tariff Commission said it decided to slap tariffs ranging from 5% to 10% on $75 billion U.S. goods, in two batches effective on Sep. 1 and Dec. 15. + +> It also said a 25% tariff will be imposed on U.S. cars and a 5% on auto parts, which will go into effect on Dec.15. + +https://www.cnbc.com/2019/08/23/china-to-retaliate-with-new-tariffs-on-another-75-billion-worth-of-us-goods.html?__source=iosappshare%7Ccom.apple.UIKit.activity.CopyToPasteboard +We are all aware that there is a very special relationship between $GME and $XRT. And today we saw that relationship in action, BIG TIME! + +On a day when the wider market got crushed, historically crushed, all day long (only to miraculously end green, which is a whole different story), we saw components of the $XRT ETF deliver AMAZINGLY strong performance throughout the day. + +It very much looks like $XRT components are being pumped and supported for the sole purpose of balancing an attack on $GME. + +Here are the ETF components: + +https://preview.redd.it/r7v0fy6wdpd81.png?width=984&format=png&auto=webp&s=9dd11642b21eb764a41248597626a7021aa91574 + +Go ahead and look up today's performance for any of these at random. Most didn't just outperform the wider market, they inversed its daily lows or more, miracle comeback made by the indexes aside. I can't even begin to describe how unusual this day was for the $XRT basket. + +I started to build a Watchlist for these tickers and gave up when I got about 30-40 deep only because it was the same story over and over ... tons of GREEN, and all virtually on absolutely no news, save Kohls. + +If this isn't 100% evidence of how badly GameStop's ticker is being manipulated, I don't know what is. Take a look ... every $XRT component up and most up big, save one: $GME. + +https://preview.redd.it/jc3u0cwpepd81.png?width=860&format=png&auto=webp&s=9a18c502feadb28331727da1a5bfe2fa532e7d05 + +https://preview.redd.it/70ec85mqepd81.png?width=856&format=png&auto=webp&s=9e5d6b217a5c32d600e2922f449c0b32da1ca492 + +Pretty sure such blatant manipulation is costing them a ton of $$$$$ ... I can't see how this is sustainable. But they are leaving a ton of breadcrumbs. + +Buy. Hold. DRS. Shop at GameStop. They are trapped, and these sorts of tricks show their desperation. + +............................. + +EDIT #1: This following post got buried by the downvote army the other day, so let me use the popularity of this post to promote it: [https://www.reddit.com/r/Superstonk/comments/s9hak2/where\_can\_value\_be\_found\_in\_this\_market\_who\_is/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/Superstonk/comments/s9hak2/where_can_value_be_found_in_this_market_who_is/?utm_source=share&utm_medium=web2x&context=3) + +............................ + +EDIT #2: There have been a couple of questions about how it is that $GME got left behind today. Well, the answer is below ... they shorted the shit out of it. But they also shorted the shit out of $XRT, but it still managed to somehow run today, along with everything in it. I wonder if they figured out a way to focus all that $XRT short volume ratio (all 81% of it) onto our beloved. + +Crazy market happenings ... we knew the expiration of 160K deep OTM $GME puts would do something interesting, and here it comes. Things are getting spicy!!! + +https://preview.redd.it/42wiclnv2qd81.png?width=1646&format=png&auto=webp&s=5e00d2abe154b13ff2e8fa8d68700eb334588fcd + +https://preview.redd.it/xujvyv5w2qd81.png?width=1680&format=png&auto=webp&s=446a401eddad3b2a55615a86617f1aa9899ebc1b + +EDIT #3: Another very interesting tidbit on $XRT ... you and I see a systemically abused ETF, while others might be seeing a lifeboat: [https://www.reddit.com/r/Superstonk/comments/sby5zt/xrt\_you\_dirty\_dirty\_dog\_institutional\_ownership/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/Superstonk/comments/sby5zt/xrt_you_dirty_dirty_dog_institutional_ownership/?utm_source=share&utm_medium=web2x&context=3) + +&#x200B; + +EDIT #4: [https://www.reddit.com/r/Superstonk/comments/sbtw6b/show\_me\_gme\_and\_xrt\_are\_tied\_at\_the\_hip\_without/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/Superstonk/comments/sbtw6b/show_me_gme_and_xrt_are_tied_at_the_hip_without/?utm_source=share&utm_medium=web2x&context=3) +Hello people, + +What to do with Parag Parikh Flexi Cap Fund? It has returned just 2.68% since this year January. + +I also invest in Quant Active Fund and Index Fund which have returned more than 10% + +Is this happening with PPFCP because foreign investment is halted since Feb/March of this year and new SIPs are taking hit? + +Are you guys continuing your SIP in this Fund and what is your statergy? To blindly continue SIP? + +I have been investing in Quant and PPFCF since January this year and in Index since last September. + + + +Edit : Exit Load of PPFCF is 2% and Expense ratios is 0.76% +Seeing as how this is fatFIRE and not leanFIRE, what splurges have made life easier, happier, or better for you? + +These might be tame by some standards here, but here are the ones that I’ve added in recent years: + +- house cleaners +- gardener +- handyman to take of my house project list +- grocery delivery (Amazon Fresh) +- anything exercise-related +- art that makes me happy +- monthly massage +YouTube video at [https://youtu.be/afW963Ng9uQ](https://youtu.be/afW963Ng9uQ) + +FB is very undervalued for sure at only 18 times forward earnings + +Facebook/Instragram/Whatsapp are still cash cows despite the slow growth rate + +1 out of 3 people in the world already using their app so its difficult to find new users + +FB is spending about 1/3 to half of their cash to invest and grow their metaverse segment which their success is unknown + +but given the low valuations we are basically getting the MetaVerse business for Free! + +FB has tons of cash in their balance sheet to do sharebuy backs and this will improve their earnings per share in the future + +Be happy for the 40% crash from peak + +Be greedy when others are fearful + +Good luck and Take care + +Master Leong YouTube Daily Stock Market Insights + +&#x200B; + +&#x200B; + +&#x200B; +Relevant Article: [RBI is in uncharted territory with quantitative easing (livemint.com)](https://www.livemint.com/opinion/columns/rbi-is-in-uncharted-territory-with-quantitative-easing-11618244295776.html) + +Basically the title. Since I'm not well equipped to understand the second-order effects of this action, want to open the question to everyone here? +I have noticed that to some extent as my net worth has grown, that it is harder and harder to really appreciate the actual value of money. + +Specifically, has anyone noticed that above $10m, when your net worth goes up a million dollars it doesn't seem like a million dollars, rather just a number ticking from $10 to $11. You went up one. There is less of a feeling of an appreciation for the million dollars that it represents. + +I think it starts around $10m net worth, where a 10% return means that annually you are ticking up at $1m a year, but pretty soon its $1.1 then $1.2, and FIVE years later, you could be setting sights on $20m. The magic of compounding interest is real. + +When I was starting out, I counted every penny, and knew that for x hours worked, I could make y, and buy z. Three was a direct correlation between what I earned and what I spent. However, recently I find that I have less and less of a connection to the actual value of money. + +There are both positives and negatives to this. I'm not going to waste my time chasing $1k any more, but I also am not sure that I'm willing to spending $100,000 on that new car since it feels in some way like more than the actual $1m that my net worth went up. It's 100000 vs 1. + +I am hoping that some verified members might be able to share their own experiences with this subtle shift, what they learned and how they approached things. +In my extended family is a 50something ex-business executive who is now FATFIRED and living a good life. (Chris) All due to career success and excellent investments during his working years. + +His life is wonderful except when he interacts with his immediate and extended family. These are rural working-class folks who never had much luck with money but work like dogs in a variety of dirty jobs. On Holidays you can cut the tension with a knife when the extended family brings up all the money that they claim Chris took from the working man. They keep asking him for money and don't feel any shame doing so. They don't understand investing and strongly believe that no one should make more than $75K a year regardless of their education and skills. + +Do you feel this anger in your own working family? What do you make of it? +I was selling my home privately and was approached by a woman I knew who wanted to buy it - I didnt clue in til later that she is a wholesaler. + +She offered 25k less than my asking price (which was already priced below comparables) to "save me the cost of realtors, inspections, closing costs and walk throughs" as if I hadnt already taken care of all that and had no idea what was involved in selling a house. + +Then she explained how she would "buy" the house now and take over all the costs and continue to pay my mortgage and then actually do the closing and buyout in two years - a future sale agreement. Which MIGHT make sense to someone desperate to get out of their house asap and doesnt care about losing their hard earned equity (I reno'd the entire house myself after 15 yrs of ownership) + +There was no way I was going to do that. But the infuriating part is that later, through our mutual fb group, I find out she doesnt even HAVE the money to buy houses. She was pulling a wholesaler's *stunt* where she pretends to have the cash to buy and only puts the house under contract and then hopes to find a buyer before the closing date and flips the contract to the new buyer, making a profit and doing absolutely nothing to earn it, other than trying to take advantage of a perceived distressed seller which I was not. + +The RE industry is already rife with enough shady deals. This kind of ploy, often touted by RE "gurus" on how to buy houses "with other people's money" is bullshit, especially when the "buyer" does not actually have the means to buy the house like they pretend to. Whenever I see this vulture responding to other people who are advertising their homes, I warn them about her ploy because its just plain unethical. +Your markets are run by bots. Now your Weekend threads are too[.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +Read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) people. + +[Posts relating to the "Is /r/ASX\_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. You have been warned.](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share) + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related.](https://discord.gg/wsNDGTf5QH) +> Please, before using this strategy, use it with simulated trading so that you can master it. + +# The Strategy + +I'll try to keep everything simple and explain how to trade using this strategy. + +**Every day after the market closes:** + +* Look for stocks that made a big move up during after hours (at least 10%), see why they're moving and if it's because of news add them to your stock watchlist **A** +* Look for stocks that made a big move down during market hours (at least 15%), see why they're moving and if it's because of news add them to your stock watchlist **B** + +**The next day 1 hour before the market opens:** + +* Check stock prices in watchlist A and keep only those that have cooled down in after-hours pre-market +* Check stock prices in watchlist B and keep only those that made a move up of less than 5% in after hours and pre-market + +**What now?** + +* Usually the stocks that are left from the A watchlist will make another big run in the first hour of the market before cooling off again, you have to ride them for a quick buck. +* Usually stocks left in the B watchlist will bounce and start to rise slowly during the day creating a good daily trading opportunity, chart them and set your stop losses and take profits on historical supports + + EXAMPLES + +**Case 1 $BNTC - GOOD TRADE - EXAMPLE OF WATCHLIST A** + +On Wednesday during the after hours I noticed that BNTC was making a huge run and I shared the chart with some friends noting: *"If it cools off in premarket tomorrow we have a potential runner".* + +The next day, an hour before the market opened, it cooled down and looked like this, and as you can see right after that when the market opened it did another 25% run before cooling down again. A beautiful quick trade. + +[BNTC CHART](https://preview.redd.it/m89byfaixqz61.png?width=1188&format=png&auto=webp&s=fe55a67dc47b55adeb56e8ca765ac5016f3ba30e) + +**Case 2 $IHT - BAD TRADE - EXAMPLE OF WATCHLIST A** + +On Thursday during after hours I noticed that IHT was making a huge run and added it to my watchlist A, the next day I checked again and it was still up so I removed it, but a lot of traders due to FOMO ended up buying at the market opening and losing money as there was a lot of selling pressure from traders taking profits from the day before. + +[IHT CHART](https://preview.redd.it/8o0ede0qxqz61.png?width=1187&format=png&auto=webp&s=61e48e2ce6aa7fcc979fcf57b4dcbe1dbfe7c988) + +**Case 3 $WISH - GOOD TRADE - EXAMPLE OF WATCHLIST B** + +Wednesday during after hours I noticed that WISH plummeted 30% during the day and added it to my B watchlist. The next day I checked again and it was slowly rising during the pre-market and I shared it with the members of my discord. Indeed, as predicted, it rebounded and on Friday made a 20% move! + +[WISH CHART](https://preview.redd.it/7gync8yrxqz61.png?width=1181&format=png&auto=webp&s=0a8b054b00ca21fee04708a5b3fef7f97ee5ab15) + +# Conclusion + +By putting this strategy into practice you will learn which news is good to trade and which is not, when to buy and when not to, etc. If you need help I always reply to all private messages here and I would appreciate if you would follow me here on reddit so you can see all my future posts here! + +I hope you'll master this strategy and appreciate my work! And check my old posts for more daytrading examples! +We had the end of Help To Buy, interest rates hikes, less migration due to Brexit, huge inflation and cost of living increase, remote working allowing people to leave cities. Everything is pointing at less demand and less affordability, especially in metropolitan areas. So how is it possible that housing prices are stable or even going up? + +Edit. I've just realised migration didn't drop, it's the highest in history. However, other points still stand. +I am 32/Canadian and had a very high paying career that had a short shelf life. +During my high producing years I wanted to move out of Canada to another country where I could save as much as I could for my future because I knew my income would not last forever. + +"Abroad" was a weird term form me. Despite being Canadian and having lived most of my adult years in Canada I felt like everywhere was abroad for me. + + I was born in one of the poorest countries of Europe and lived there until I was 17 years old. The country has come a long way today but when I go back I never fit in. I definitely feel more connected with Canada than the country I was born in. + +I think a big reason why I focused so hard on work was to never get back to the level of poverty I grew up as a child. Think of North Korea and Venezuela in one combo. + In 1997 there was a complete lock down due to civil war and my family was lucky enough to survive because we had a vegetable garden and chickens. If you left your home you could be shot/robbed or worse be killed from stepping on a mine. The city was covered in them. + +The other reason was that women got treated like second class citizens where I was born and my childhood was a living hell where I wasn't even allowed to walk on the street alone (even after they took out the mines), talk to members of the opposite sex or have any friends. Dating was not a concept and if they know you are "dating" you have to immediately get engaged and then married and have children or else you are a "whore". + +I always had a bubbly personality when I was young, I liked to act, dance, and really liked learning. I was also interested in entrepreneurship and got a full scholarship at York University to study business but to my parents a woman is not suited for business and they pushed me to study molecular biology instead. I hated my University years. I battled depression and never really saw a future for myself with biology. + +I ran away from home at 19 and asked my local university what help was there for someone like me that wanted to start a business. To my surprise they were very helpful and told me about grants and loans I could apply to get started. +My first business was face painting and entertainment for children's birthday parties and events. +I remember I got a $5000 loan and it seemed like so much money at the time. It helped me buy my first car and get started. I grew my business from just me to having 10 employees, having permanent booths in theme parks and festivals in Canada. +It was hard work but I loved it. +During the time I was still in university and most of my work was summer/weekends so it worked out ok. + +I remember I was growing more and more fed up with my studies and walked out of my last exam with a smile feeling absolute freedom. I never finished my degree and I was so ok with it even if I was one exam away from graduation. +I didn't care about the crazy amounts of student loans I had accumulated. All I wanted was to grow my business and make money. It gave me that thrill that sitting in a lab using a microscope never did. + +One day I became curious about online streaming and after having a few drinks with a friend I made an application on a popular site (at the time). +The site was more like webcamming but you were allowed to do whatever you wanted on cam as long as there was no guys. + +I didn't think much of it because I was doing well with my other business. +At the time I had a rocky relationship with an ex bf and decided maybe going online and flirting with men would make me feel better about my break up. Then saw this email about the site I had previously applied had accepted my application. + +I did my first stream completely clothed, having fun and chatting with people. I made $4.00 usd which was shit but I had so much fun doing it so I started researching the industry more. +After a few more streams I decided this had a potential to be something big and I decided to make a business plan and focus on it entirely. I was constantly doing 10-12h on cam and loved to come up with new creative ideas to entertain people. + +I went from making $4.00 my first day to making just shy off a million dollars a year. +The money was not the focus but being the best at what I did was. + +During my high earning years I knew I had to save and plan for my future. Most of the other performers would have one good month making $150,000 then disappear and not be relevant again. I don't know how I managed to last in the industry for over 8 years, but I am greatful that my hard work was combined with luck and being at the right place/right time. + +I moved to Mexico when I was 26 years old. + +My life in Mexico was great the first two years. I was dating someone that was super supportive with my work schedule. It was the honeymoon phase. We would always eat out and enjoy nice places and expensive travel. I was always frugal with everything else but vacations and experiences. +Looking back my mistake was that I paid for everything and my bf at the time felt used to this cushy life that ended up expecting it. He was bad with managing money too and had a lot of debt which stupiditly I ended up paying off. + +During this time I had bought various income properties in central Mexico (in a retirement village) and the agreement was that since I was making more money with my online business which required long hours on cam, my ex was supposed to take care of property management. At first he was engaged then ended up not so pationate about it. I felt used and underappreciated. + +When I realized all this I was pregnant with our child. He told me he was unhappy living in a retirement village and wanted to move to a bigger city in Mexico. I told him we could try it out because it would offer more opportunities for our child as well. +That's where things went downhill. He constantly ignored me and refused to help with chores in the house. I had a high risk pregnacy so I couldn't do much myself either. + +After a few months he ended up cheating and experienced a mental break down, trying to commit suicide. +I was crushed. I didn't know what happened and despite my efforts to send him to get the best medical help in the country he never was the same. +I really wanted to help him get back on his feet again because I thought we were a team for life. I was wrong. + + He ended up leaving the country one day when my son was only a few months old and has not been back in over 3 years. I have never heard back from him and I don't know if he's dead or alive. + +I was crushed and myself experienced a complete burn out from work/personal loss at the time. Physically I became ill too and dropped down up 42 kg. +I knew I had to do something about it because I had a son to take care of. + +Looking back at it now it was an amazing opportunity for me to realize there was more to life than work. It helped me realize that I should have not provided everything just because I loved someone but let them provide and create on their own. If they refused I had to know they were using me as a wallet and to not get involved. + +RETIREMENT + +It's been one full year since I have been completely off work. It happened in 2020 out of all years. Before I tried to work on and off but my love for my job wasn't the same. + +I can say I feel much less stressed than I did years ago. My health is better and my sleep schedule is so much better than it was before. + +For the first time I now feel more Integrated in Mexico and I don't think I am missing out much not living in Canada. + +Where I live it's safe, it has a high quality of life and there's a lot of international business around. Not that I want to open a new business here but I think it's important to be surrounded by other people that have seen more of the world and are also successful. + +On top of that I have always felt like a hybrid of many cultures and being surrounded by people that have moved around the world means that we get to be hybrids together and they understand me better than say someone that lived in Canada/USA all their lives and never left the country. + +Mexico has many bad things as well but no county is perfect. Choosing the right location to live in Mexico is very important to not be affected a lot by the bad things. + +The pace of life is also much more calmer than in Canada and the US. This can be bad if you want to start a business here but it's a good place to be during retirement. + +Also people are a lot less "offended" from things and I find it's easier to make friends than it was in Canada. My general perception of Canada was that people in Canada are very helpful to strangers but much colder if you want to have a meaningful friendship. Of course there are exceptions but that was my experience. + +One thing I did not like about the western culture is the victim mentality that the youth of today are embracing. +If they can't get something they usually blame the government for not doing enough for them. + +Some women blame men for "the patriarchy" and some Canadians blame foreigners because 'they took away their cheap homes and they can't afford real estate' + +Having lived in a real "shit hole" country where women get treated like crap I want to remind you that Canada and the US are the land of opportunities compared to most of the world. + + Success is not guaranteed for anyone but all the information is free in English for you to look up and use it to your advantage. You don't even have to learn a second language to access it. + +Being a woman or a minority gives you the same legal rights as everyone else if not more sometimes. +I don't think most western feminists know what it's like to live in a muslim country. + +My point is: Westerners are not grateful enough for what they have. + +Complaining is human nature so of course it happens in Mexico but the majority know that their government won't do shit for them and they focus on what they can do as an individual. This can be bad too wich is reflected in the general sentiment Mexicans have for public property but that's another problem I won't get into. + +Overall i am happy where I have come in my journey. I know I haven't got it all figured out despite having a 4.5 million net worth I don't feel complete being 100% retired. + +I am currently building real estate in Mexico, investing in stocks and excercising to keep me busy. + +After things open up I will travel more but the urge to have everything figured out which I experienced immediately once I stopped working is less. + +Also: It's lonely at the top: + +I like to think of myself as an easy and approachable person, however I think having a different upbringing and dedicating and reaching high levels of financial success at a very young age, makes relating to most people not as easy. +I think humans form stronger bonds when they share and solve similar problems together. That's why I lurk in this forum from time to time. It makes me realize at the end of the day I'm not alone. + +A lot of the questions that get asked here on a daily basis are questions that I ask myself all the time. + + The funny part is that no one has the answers, I don't either and the more I live the more I realize that the answers don't matter. + + The only realisation I have so far is: + +The key to being rich is living in the moment, enjoying the company of your loved ones and being greatful for what you have. + +Don't let your brain trick you into overthinking and stay away from the compulsion to use fatFIRE calculators all the time. + +Just get out for a walk instead and leave your phone at home. +We could be hit by a car tomorrow and none of that shit matters as much as you think. + +Edit: since many have asked the country was Albania. +I responded here how I ended up in Canada: + +https://www.reddit.com/r/fatFIRE/comments/lh30x8/my_expat_fatfire_journey_abroad_long/gmwn401?utm_medium=android_app&utm_source=share&context=3 +I am Male, 19, and have been kicked out of my parents house. Prior to that, they tried to make me pay rent, but I really just coudnt find the money to do so as I am taking online cources and I blew all my savings on them. I literally have $65 to my name, and no clue what to do. Ive been living at a friends place, but I really dont plan to stay there for long. Any advice on what I should do? How can I make money? I just need some money so I can get on my feet and find a job for now. Anything helps, thanks everyone! +Sorry for the click bait title but the more i read posts in here the more i have issues with what some people say. + +It seems alot of people on this sub are save save save and FIRE but what is the point in saving past a point. + +I am 36 i put 22.5% in pension i have an emergancy fund worth 6 months salary and i am paying my mortgage. + +Why shoukd i save an extra £2000 a year over going on an extra ski-ing holiday every year. +Going on that holiday will give me 30 extra holidays before retirement or if i save i could retire 2 years ealier but would not make up the 30 holidays i would have missed, the same with buying new clothes and spending 2000 a year on meals out a year. + +Why is there a push to save and save for a an early retirement when you have no idea what physical condition you will be in to enjoy it. I know by late 60s i will not be able to ski as i do now even if i stay fit and healthy. + +I am selling a year in my 60s to buy all the years of my 30s and 40s but why is this frowned upon? +Hi All - Sorry if the title sounds asking, I wanted to get right to the point to get the attention of my target audience and not waste anyone else's time. + +I am looking to get some(or a lot of) motivation and learnings in RE Investing and hoping all the W2 earners making progress towards the dream of FI can help me. + +I know you all have limited time so I really appreciate you paying it forward and I hope I can be helpful by sharing the synthesis of all my learnings in the very near future. + +Just to break it down, looking for simple answers to the two questions below :) + +1. What is your cash flow income per month right now? Gross rental income - expenses(Principal, Interest + Insurance + taxes + Utilities + Vacancy + Property Management + Capex + Maintenance Repairs) + +2. How long did it take for you to get here? :) + +3. At what passive income, would you be in a position to quit your full-time job (if you wanted to)and still maintain your lifestyle? :) + +Just to give an example to make your life easier, your answer could be as simple as + +*1) $3.7k per month* + +*2) 3 years* + +*3) $8k per month* + +Hope you all are having a great memorial day! :) +Full Statement from PM's Office: [https://pm.gc.ca/en/news/news-releases/2022/10/28/prime-minister-announces-new-measures-support-ukraine](https://pm.gc.ca/en/news/news-releases/2022/10/28/prime-minister-announces-new-measures-support-ukraine) + +>The new Ukraine Sovereignty Bonds will be offered by participating financial institutions in denominations and rates of return which will be announced soon. Those who choose to invest in this bond will, in effect, be purchasing a regular Government of Canada five-year bond backed by Canada’s triple-A credit rating. Canada is the first country in the world outside of Ukraine to offer a bond for purchase in support of Ukraine. + +&#x200B; +This is not a hate post, but rather an exploratory one. + +My dad is 60 years old. He has about 6 close friends, who all retired before 65, who are on a defined benefit super scheme. He retired last year at 59 on $100k a year on this scheme, and his friends also retired on similar figures. + +For all those who are unfamiliar with the scheme- it was basically a super scheme that was started a few decades ago now that stipulated that people who worked a certain amount of years were guaranteed a percentage of their income for life. In other words, if my dad lives til 101 he will be getting $100k every year until he dies. + +Which returns to my question- how are we going to manage the cost of baby boomers retirement? Given that the average age of death is rising every year, this cost is going to be enormous. What sorts of things do you think we can expect from the government regarding this in the future? +I coded a crypto trading algorithm that places trades on Binance based on Reddit post sentiment on relevant cryptocurrency subreddits. + +&#x200B; + +Despite my rational mind telling me it's not the best decision to just let this run on a live account, I decided to bite the bulltet and let the script run for a week with the following configuration: + +* The bot scans the top 10 posts in hot on /r/cryptocurrency, /r/crypto_currency, /r/cryptocurrencies and /r/worldnews.  +* It looks for keywords in the posts title and description, containing any of the top 40 coins by marketcap +* It then analyses the sentiment of all posts that mention any of the top 40 cryptos +* If the compound sentiment is positive, the algo will buy that coin. + +With that logic in mind, here is last week’s performance broken down – all generated by the Reddit hivemind. + +I am now hodling 11 coins in my portfolio, all because they were talked about positively at the time on Reddit: BTC, ETH, ALGO, XLM, ADA, SOL, LINK, DOGE, MATIC, XTZ, LTC. + +Below I used matplotlib below to plot the daily gains/losses for all the coins: + +&#x200B; + +https://preview.redd.it/n0la9hlc67971.png?width=3341&format=png&auto=webp&s=f0424f87241031717f1af43f44bfb3f74f2fa56a + +Don’t want to jump any any conclusions just yet, but damn, this looks a lot better than I expected. I was fully prepared to incur some serious loss, but that’s not the case it seems. I trust the Reddit hivemind, for now, anyway. Yes there’s DOGE and LTC in there, but that can be avoided in the future by specifically excluding certain coins from being picked up. + +It’s going to be easier to visualise the overall performance using a scatter plot, like the one below: + +&#x200B; + +https://preview.redd.it/gpfhmgrd67971.png?width=3328&format=png&auto=webp&s=fbda4f82c893158f75f724e8728140f69e3382e6 + +You can see here, that on the last day, we only have 1 coin in minus, all the rest are above 0. + +Or better yet let’s just look at the raw data. + +BTC: +3.8% | ETH: 6.5% | ALGO: -0.2% | XLM: -2% | ADA: +8.8% | SOL: +1.77% | LINK: +4.8% | DOGE: +1.5% | MATIC: +8.6% | XTZ: +5.3% | LTC: 6.1% + +All that brings our Reddit crypto trading bot to an overall profit of **4.1% this week**, which again – considering that me, as well as the Reddit community had multiple concerns that this strategy might actually work, I am well surprised. + +I will let the bot run for another week, and then crunch the numbers once again. + +If you’re feeling brave, [give it a shot yourself](https://github.com/CyberPunkMetalHead/reddit-cryptocurrency-trading) \- the repo is open if you want to implement your own version. :) +Ever since i opened an account for investing, i started thinking about every penny i spent and how it can contribute to my portfolio if i added it. Every spent above 100€ is being audited before done😂 +I just started investing a couple of months ago, so do you think it will wear off or it gets crazier lol +Not really sure how we can go about doing this. + +But the person with the fridge that was empty made me feel pretty sad and scared for some folks. + +I want MOASS too but I hate the thought of you or your kids (mostly your kids) going hungry or cold. + +Apes assemble. Let's get a mod in here and figure out how we do this responsibly and anonymously. +There is a new type of ponzi scheme growing, and it's being promoted in this sub as a legitimate investment opportunity. And it has been giving me big 2017 bitconnnecccct vibes, so I wanted to warn all the newbies. + +These types of scamcoins are all over the sub right now. + +"Farming" and "Deflationary Tokens" can be indicators that the cryptocurrency you are buying is a scamcoin built to make developers (or at best, early adopters) lots of coin -- and to be promptly dumped on unsuspecting investors. + +Some examples: +Cobalt.finance +Goodboi.finance +Wynaut.finance ( Meowth and Wynaut) <- Being shilled right now, in this sub. +Shrimp.capital <- Being shilled right now, in this sub. +Hoge. + +There are heaps of examples of projects like these, and they all rely on the same model. + +First, The developer creates a smart contract which either: + +A) Burns 2-10% per transaction. + +B) Steals 2-10% per transaction and gives it to "stakers". + +C) Allows you to lock (stake) your newly purchased token to farm more of the token, or another shitty token. + +Fun fact: there are generators for these smart contracts avaliable on the internet for $100. + +Secondly, The developer puts the all the tokens and 1BNB in Pancakeswap or Uniswap, and burns the Liquidity Provider tokens. This is done to convince users that they cannot be "Rugged" by a developer removing the BNB from Pancakeswap -- rendering the tokens worthless. + +Thirdly, the developer announces the release of his token. Not before putting in a big buy order on Pancakeswap, gobbling up a large chunk of the supply and promptly dumping it on everyone who purchases after him -- who ignorantly think that because the LP token was burned, they can't get "rugged". + +If the coin you're thinking of investing in, fits this criteria, it's probably a pump and dump shitcoin. + +https://tokensniffer.com/tokens/scam maintains a list of known rugs and scams, but often once it's on this list -- it's too late. + +Nobody in a year is going to remember yet another "deflationary" coin that has 0 usecase. Goodboi will not be the next Dogecoin. + +Anyone shilling these coins has big bags and is just trying to dump them on you, and is complicit in perpetuating the scam. + +That is all. I'll try to get you guys some good gems in coming days btw. +I have a friend who told me I should read some econ papers if I wanted to know if I should pursue a degree in Economics, however, I am unfamiliar with where to get them and what are some good ones for people who haven't read them at all, or even if I should be reading them. Can someone help me? +As the subject says, I'm in year 2 myself (since 2020 - can provide verification of current financial situation). Would like to learn from people with significant years of experience about two topics: + +\- money management (how not to lose everything) + +\- life (how to live a happy and fulfilled life w/o money as a barrier) +There is an idea in contemporary culture that businesses are simply better at most tasks than government because they are motivated by profit and literally can't afford to lose money. Are there nay tasks, though, that can ONLY be performed by a government, or that can be more efficiently done by a government? + This is a TIKI like story of devs that failed but didn't give up. + +Daddy token **FAILED** the first time with a BANG. Live in front of 700 people on a voice call, the contract was torn apart by a botted 150 BNB transaction in the first millisecond of trading. + +Devs Anthony Lee and Harry Knight didn't run. Among growing criticism, they decided to do something about it, in a way that would benefit original believers. + +With a desire to do the right thing for the community, after days of exploring what went wrong, and after hiring what is probably best coding team in the world, Anthony and Harry improved on Olympus token with some very important modifications. 🔥 **$PHNX (phoenix) DADDY was REBORN**! + +With a supportive community, strong believers and a "FULLY TESTED" contract, Daddy Reborn will have a whitelisted presale on DXSale on Friday the 16th of July at 5pm UTC. + +💎BUSD rewards with manual buyback (auto buybacks have failed for many projects) 🔥 + +✔️Supported By The Community, Revived By The Community 🍪 + +📌$PHNX is a BUSD rewards token 🌱 + +🔰2% BNB converted marketing wallet means the project has funds to go the long haul 🔥 + +⚙️TOKENOMICS + +* Supply: 1B +* Marketing wallet 2% per txn +* Burn (Fee): 50% of total supply +* Redist in BUSD 4% per txn +* Liquidity: 10% per txn +* Manual buyback 2% per txn + +Join the community for more❗️ + +🌐Website: [https://www.daddytoken.net/](https://www.daddytoken.net/) + +📱Telegram: [https://t.me/thedaddytoken](https://t.me/thedaddytoken) + +🐦Twitter: [https://twitter.com/TheDaddyToken](https://twitter.com/TheDaddyToken) +Link to previous thread +https://www.reddit.com/r/financialindependence/comments/8pv2yd/38msingle_23_million_submitted_my_resignation/ + +So I quit this weekend. I was hoping to avoid why I was quitting getting out in my final weeks of work but between my boss and the two coworkers I'm closest to insisting to knowing why, it got out and now pretty much everyone knows. I was naive to think I could keep it a secret. I just told them I was retiring early for now, going to volunteer in Thailand and explore SE asia for the next year. + +Boss was floored, but he was happy for me. He offered for me to leave immediately but we both knew that would leave a mess so I will be around a few weeks. The majority of my coworkers have reacted with confusion and pessimism, as I expected. How can you afford to do this, you are not even 40 yet, did you win the lottery, so you traded a family life for this, and so forth. No one has been outwardly hostile to me but lots of people are either avoiding me or coming up and asking amusingly personal questions about my savings and family life. Lots of avoiding eye contact and frowns, lots of passive aggressive "you are going on permanent vacation so I won't bother you with this." I feel like I am in middle school again. + +The few people who I have judged over the years to be truly kind and decent people here have pretty much all privately told me how happy they are for me. That's been nice. + +[edit] Thanks for all the comments. True, I could have told a white lie or misleading, vague reason as to why I was leaving when asked by my boss and two coworkers. I'm a terrible liar, they would have seen right through it. If I they bought my lie, I would have still had to tell more lies when pressed for more details in my remaining time here. Who has the time or patience for that shit, right? + +Perhaps I could have done a better job just refusing to say why I am leaving. If I worked for a large company where I didn't see everyone else in the company every single day and there's that detachment there, that could work. This is a smaller business and my boss is a nice man who hired me out of college over a decade ago and who has taken care of me. True, I don't owe him anything and vice versa, but I'm not going to lie to him. I took a gamble that he wouldn't tell people and I lost. It is what it is. + +[edit 2] I have no desire to ever get married or have children, for reasons I have explains thoroughly in my previous threads. Having said that, I have no problem with people in here who strive for FIRE with their families. It is definitely still doable with a wife and children. Hell, you could definitely do it sooner if she is a high earner and frugal too, the tax benefits alone would be huge. I think it's wrong to project my values and expectations in life onto other people. I find it odd that so many people in this subreddit do so. + +[edit 3] Thx for the congratulations, I appreciate the kind words. +Honestly, I have XXX shares and could make a million at anything over 1,600 a share. I was planning on dumping earlier than most but a post on here changed my mind. It said something along the lines of “apes with less shares need the money the most”. It hits home and and it’s too true. Will be selling on the way down + +Edit: Thanks for the awards! Also sorry I can’t reply to everyone there’s way too many comments and I’m at work. +Finishing up my tax return with H&R Block and was absolutely blown away by one of the payment options. You can either 1) Pay with your credit/debit card or 2) Use your refund to pay...for a small additional fee of $39! This is robbery, right? + +Edit: Thank you for the awards kind Redditors! Hugs and kisses. + +The Indian power/electricity sector has been one of the worst performing sectors over the last decade. Most companies have given 0 to negative return over the last 10 years (Tata Power, NTPC, NHPC), a few companies are debt laden and have been classic examples of wealth destroyers (Reliance Power and Suzlon) and even the most efficient companies have given returns lower than a FD (Torrent Power). + +The underperformance of the Indian power sector can be attributed to + +Poor capital allocation and heavy debt undertaken by the companies + +The problem of counter-party risk for power generators from DISCOM (distributor companies) + +Sector overvaluation in the early 2010’s. + +Let us understand the power sector in India - +