diff --git "a/reddit_finance_43_250k_4.txt" "b/reddit_finance_43_250k_4.txt" new file mode 100644--- /dev/null +++ "b/reddit_finance_43_250k_4.txt" @@ -0,0 +1,10000 @@ + +* Find a mentor + +Mentors have been through all the mistakes a beginner trader will encounter, and can offer invaluable advice to speed up the learning curve. Even so, nothing can replace real world experience and most traders will still go on to experience the same mistakes themselves before learning + +* Join a community + +Trading can be a solitary job. It can be beneficial to talk ideas with other traders. Communities/chatrooms are also good for idea generation, and acting as scanners. Essentially you have many other traders looking at similar stocks and talking about tradeable charts. You should not join chatrooms to chase alerts as the end goal is to become independent in your trading + +* Put in the effort, accumulate screen time + +For most trading days I have watched the charts for the majority of market hours (9:30 to 4:00). I say this to show the amount of screen time I have personally accumulated. On top of that the time spent on weekends reviewing and journalling trades, charting potential setups for the week ahead (even though a lot can change on Monday). + +* Practice + +Watching the markets is good, but nothing will beat real trading experience. I missed 2 trading days this year out of 252 days, with a total 8136 trades (granted, the first half of the year I was overtrading massively in learning stages) + +* Start with very small capital while having a stable income + +Growing 10k to 50k should be the same as growing 50k to 250k (for the most part, unless your strategy runs into liquidity issues). Prove you can do it with a smaller account first. Then you must conquer emotion and discipline once you are trading bigger dollar amounts. + +It's easier to learn while having another source of income rather than trying to become profitable while living paycheck to paycheck on trading income. + +## End + +The best part about trading is that the only limit to your success is yourself. Compared to many other traders I am still only a beginner and have so much yet to learn. The potentials of trading are huge and my journey has only just begun. My goal next year is to cross $1M profits and keep scaling up. + +Hope this helps those starting out just like I did in the beginning. Feel free to ask any questions! I also post trades & charts daily on my twitter [Valckrie](https://twitter.com/Valckrie) +Tried to get a $500K loan from Nab Bank, they said no probs dude. I later asked, what if I was to use Nab Equity Builder and Buy your Stonks, they looked at me funny and told me to shove it. I said ya'll give them First Home Owner's a leverage of 20:1 but only give me 1:1. I want $10,000,000 exposure to NAB shares... They are currently discussing this with their risk management team which they will get back to me soon... +I've been with my company for just shy of 4 years. I started working for them on Sept 28, 2016. I thought I was going to hit 100k in my 401k back in March but damn you Corona virus! Ive been waiting for this day for sometime and also - same day, we hit $1M net worth. I am so damn proud of my husband and I. + +Back in 2013, my husband and I bought our first rental property on an FHA loan and 3% down. We lived in a tiny 1 bedroom for 2 years and the first floor covered our mortgage 100%. We purchased our second rental property in 2017, and put 20% down and moved out 1 year later, profiting $1890 between the two properties a month. Now we are living in our 3rd rental property, and have been living well below our means. We save 60-70% of our income which immediately goes into saving and retirement. When all of my friends are purchasing new vehicles, and spending copius amounts of money on their wardrobes, I'm content with spending money on experiences with my family that we will remember forever. + +Currently we are looking for a single family home and though we were approved for $700k, I'd feel most comfortable in a home worth $375-$425k. It's simple. Live below your means. I'm proud to say we have $245k in cash just waiting for houses to come on the market. I'm hoping for a housing market crash so we can buy in cheap, but we will see. I have no one to tell, except Reddit but it's 6:35am, my daughter's asleep, we have one more baby on the way (due Jan 2) and couldn't be happier right now. +Yes, I’m in this market to make profit but I want to do that with legit projects not f#cking dog coins with no vision, technology or even any sort of back up. + +&#x200B; + +For real, how can people invest this blindly in something that has no back up what so ever. It’s literally hype driven and that’s it. + +&#x200B; + +Would much rather invest in coins with real technology behind them like ETH and ADA or any coin that has real intrinsic back up like Aurum’s gold backed tokens. Or old and very stablished coins like BTC. + +&#x200B; + +These meme coins and a fad and won’t be around for too long… +What did you do with your bachelor degree in economics? I am interested in knowing what did you do with it and what careers did you pursue? Did you regret it or was it something that was worth it?? +Here’s an odd one… + +I rented a beautiful property to a couple in their twenties, and one of the tenants learned to simply dislike me by default. + +We had a very courteous relationship, and I did my absolute best to ensure that they were well taken care of - always responding immediately to repairs, driving out there (5 hours away) to make sure they were taken care off when they smelled oil leaking in the basement, providing a $250 rent reduction for a Christmas gift (they took $300 but I didn’t call them on it, it was Christmas!) + +Then, the realtor happened. I brought in a realtor in April to potentially put the house on the market. I spoke with the tenants ahead of time, to ensure that they would be alright with showing the house (as outlined in the lease). They agreed. + +The realtor was a complete jerk. She was incredibly rude to the tenants, and their immediate response was to send me a letter from their lawyer threatening litigation for showing the home outside normal business hours. + +I had no idea this was transpiring, so I immediately called them, apologized, and terminated my relationship with the realtor - who also threatened to sue me, and to whom I had to pay $500 to leave me alone. + +The tenant in question never spoke to me again, but his animosity was very loud. + +I spoke with his counterpart, who was very kind and friendly. We came to an agreement that they would leave at the end of May. They then asked to stay through June. I began advertising the house for July availability, and found many qualified tenants at increased rent and less utilities. The tenants then asked to stay through July. I reluctantly agreed to help, and began advertising for August. I lost most of those potential renters. + +They then informed me that they were leaving at the end of June, asking that they not be charged for July (this was midway through June). I reluctantly provided them prorated rent for half of July, because I couldn’t be left in the lurch. + +I’m going in on Saturday for the move out inspection, cleaning, and maintenance, which of course I invited them to. + +There only reply was that they had turned off the power three weeks ago without telling me. + +How do I respond to this? Should I just expect tenants to hate me regardless of how above and beyond I go to ensure they are taken care of? +I’m gonna be honest here + +I’ve seen SO many “Gurus” show up this year on Instagram, TikTok, YouTube and god knows what other platforms + +All claiming they made really great returns but just started trading this year....in March...literally at the bottom of the market. + +Please don’t listen to these guys + +People who’ve made all their money on one or two stocks from just throwing money at the literal bottom of the market don’t know what they’re talking about + +I know this seems obvious but man I’ve seen so many, and just today I had my brother in law tell him his barber was giving him day trading advice + +To those asking: Read a book to learn, idk where you should start. + +Wanna learn TA? @butimnotatrader on YouTube provides some crazy predictive stuff to the T - https://youtube.com/channel/UCfsjoc_1Q9ue1pL0BpehqmQ + +Cue banks Confluence 2.0, teaches you about setting support and resistance, I think this is a paid video that got uploaded? - https://youtu.be/9X3tQcwE5hQ + +Macro economics? Some dude named Steve on YouTube where his wife makes him props (don’t know the channel name) he’s really good at explaining trickle down/up economics + +Don’t listen to Graham Stephen or meet Kevin, I don’t hate them, just...ugh. Clickbait. + +Other than that I have no clue where you should start. Everyone kinda sucks. +Had a ton of medial a debt in my late teens and grew up in a family with no zero financial literacy and zero savings. I am the first in my family to no longer have accounts in collections, to invest for retirement and practice fiscal responsibility. Hoping to teach my niece and nephews the same skills, see them get an education and lift the curse of generational poverty. + + +[https://www.npr.org/sections/money/2012/07/19/157047211/six-policies-economists-love-and-politicians-hate](https://www.npr.org/sections/money/2012/07/19/157047211/six-policies-economists-love-and-politicians-hate) + +Eliminate the corporate income tax. Completely. If companies reinvest the money into their businesses, that's good. Don't tax companies in an effort to tax rich people. + +Therefore, should Biden actually eliminate corporate tax and add better taxes (wealth tax)? +Hi all, + + Can someone explain what's going on with TSX Ventures Index over the last month? + + It's been dropping a lot since its peak in mid February. I was hoping it would quickly recover its dip but it seems like it's doubling down on its own dip. + + I'm thinking maybe it has to do with the dip in tech stocks and rise in US bond yields. + + Could we see the TSXV doing another run up on the pandemic recovery? +**EDIT 1: There is an issue with Reddit right now and my images are not loading. I've added IMGUR links instead. Furthermore, I cannot see the upvote total for this post, which is still stuck at 1.** + +**EDIT 2: The comments in EDIT 1 seem to be fixed now. I also added an example of how the additional deposit could have been made in shares rather than cash. This would force the short seller to buy enough shares to meet their new margin requirement. Otherwise, it was a legitimate margin call to cover a short position.** + +**\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_** + +There are significantly underfunded short positions on GME. With the recent spikes in price, it puts an even bigger strain on these positions because they must deposit more money to keep their accounts current with the new price. I'll use some simple numbers to describe what this means. + +If you have $100 in a deposit account to "cover" your short position and the price skyrockets, you must make an additional deposit to meet the new price. So the account holder will deposit an additional $20 to make their account current. To do this, the short seller can either deposit shares or cash in their account. If you cannot meet this requirement, a [margin call](https://www.investopedia.com/terms/m/margincall.asp) will occur. I believe the uptick in volume this morning resulted from short sellers purchasing enough shares to meet the new requirement. It could also be from them covering the position, directly. I could be wrong but the outcome is still the same. Take a look: [https://imgur.com/vdzZUaa](https://imgur.com/vdzZUaa) + +https://preview.redd.it/qg1iw979a2471.jpg?width=1891&format=pjpg&auto=webp&s=0bd6b0348a886d8fd229f23a213028d94991b8fa + +We had at least 2,000,000 shares traded within 20 minutes which boosted the price by roughly $45. This means there are now MORE positions which are underfunded and must make additional deposits to meet the increase in exposure. Ergo, we should have a domino effect. The "sideways" trading occurs between these purchase periods because retail investors continue to diamond hand their stonk. + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +What does this mean? Volume upticks like this will drive the price up. Once that spike is over, the price will trade sideways (basically) until another volume spike occurs. We know this because apes basically forgot how to use the sell button. This will send the price up again. Rinse, wash, repeat. + +However...... + +Think back to the House of Cards - Part III. Remember the example I gave of Goldman Sachs when they were being "bought in"? What did they do? + +They shorted **EVEN MORE** than they purchased on that day to keep the price down. As I am writing this, it is literally happening with GME. + +[https://imgur.com/abvlt1L](https://imgur.com/abvlt1L) (pictures AND links are really f\*ckey with Reddit right now) + +https://preview.redd.it/lxhaj37aa2471.jpg?width=1902&format=pjpg&auto=webp&s=c5d787fa3fdcd6cc783da7c052338821129d9874 + +I honestly do not believe this is retail selling, but rather, a flash-crash to drive the price down. I wrote about it in Citadel Has No Clothes when it happened on March 10th. I would have a hard time believing this a few months ago, but after seeing Goldman Sachs get caught doing the same exact thing, it's become obvious: this is their textbook move. The goal is to return the price to a point it was at prior to the increase this morning. Obviously, this will prevent more market makers & broker-dealers from having to make additional deposits. + +This is not normal behavior and is HIGHLY unlikely that retail is responsible. Prepare for EXTREME volatility and know that these actions are performed to prevent OTHER BROKER-DEALERS from being margin called. + +As you continue to hold, **THEIR** problem will become worse and worse. It will **ONLY** work if you sell. Once the short attack is over, you should see the price rebound. We know that $350 has been a dangerous point for them because they triggered a flash crash at $350 on Mar10 (Mario day). Low and behold, they *done-did-it* again + +[https://imgur.com/NnLH3We](https://imgur.com/NnLH3We) + +https://preview.redd.it/d813st4ba2471.jpg?width=1893&format=pjpg&auto=webp&s=e0080c01e8e2a8061c2f771bf4ba9aedf10cf79c + +To me, this is us catching them in their lies. There would be NO NEED for this if their positions were covered. It is blatant market manipulation and we are SUFFOCATING THEM. + +DIAMOND.F\*CKING.HANDS + +\*Not financial advice\* +Hello, i dated a guy back in 2020 and he did a lot of stocks and set me up with a account on a app called tradinging212. My new b/f has cryptocurrcies and he is telling me my ex was stupid and the stocks he bought me are boomer and he has made me buy worthless stuff and i should just sell them and buy bitcoins. + +The issue is my ex called himself stupid whenever he talked about money while my new b/f is very confident both of them are very different and i dont understand who is right and who is wrong and i have stuff in my app that i dont understand. + +I understand what these companies are and i can see when he bought them for me. + +Berkshire Hathaway $170 100% + +JPMorgan Chase $86 100% + +Johnson & Johnson $130 100% + +Then i have something called "Risk it for a Biscuit" in the pie options and inside this i have stocks what i think are ETFS. However when i read this subreddit i cant see anyone talking about them. + +Im in the UK and all i can remember is him saying was something about conversions rates are better in GBP not USD, but i dont understand what is going on. + +iShare Core S&P 500 GBX - CSP1 - 33% + +iShare Core MSCI EM IMI - EMIM - 21% + +Vanguard FTSE Developed Europe - VERX - 12% + +iShare MSCI World Small Cap - WLDS - 10% + +iShare S&P 500 Information Technology - IITU - 7% + +iShare NASDAQ 100 - CNX1 - 7% + +iShares core MSCI Japan IMI - SJPA - 4% + +Vanguard FTSE Developed Asia - 3% + +iSh FTSE 100 GBP - 2% + +Vangaurd FTSE 250 GBP - 2% + +would someone be able to help me with this and try to explain to me so i can understand how this works for myself? +I've been with my company for just shy of 4 years. I started working for them on Sept 28, 2016. I thought I was going to hit 100k in my 401k back in March but damn you Corona virus! Ive been waiting for this day for sometime and also - same day, we hit $1M net worth. I am so damn proud of my husband and I. + +Back in 2013, my husband and I bought our first rental property on an FHA loan and 3% down. We lived in a tiny 1 bedroom for 2 years and the first floor covered our mortgage 100%. We purchased our second rental property in 2017, and put 20% down and moved out 1 year later, profiting $1890 between the two properties a month. Now we are living in our 3rd rental property, and have been living well below our means. We save 60-70% of our income which immediately goes into saving and retirement. When all of my friends are purchasing new vehicles, and spending copius amounts of money on their wardrobes, I'm content with spending money on experiences with my family that we will remember forever. + +Currently we are looking for a single family home and though we were approved for $700k, I'd feel most comfortable in a home worth $375-$425k. It's simple. Live below your means. I'm proud to say we have $245k in cash just waiting for houses to come on the market. I'm hoping for a housing market crash so we can buy in cheap, but we will see. I have no one to tell, except Reddit but it's 6:35am, my daughter's asleep, we have one more baby on the way (due Jan 2) and couldn't be happier right now. +# The GameStop Reddit + +If you’re looking for the GameStop Reddit, you’ve come to the right place. r/superstonk is a one stop shop for all things GameStop. Financial news about GME, updates on GameStop Earnings, and discussions on the upcoming short squeeze. + +r/superstonk’s over 500,000 members have cemented this subreddit as the GameStop destination addressing questions like… + +- GameStop Stock manipulation? 👍🏽 + +- [What is Direct Registered Shares otherwise known as DRS?](https://www.reddit.com/r/Superstonk/comments/ptvaka/when_you_wish_upon_a_star_a_complete_guide_to/?utm_source=share&amp;amp;amp;amp;amp;amp;amp;amp;amp;utm_medium=ios_app&amp;amp;amp;amp;amp;amp;amp;amp;amp;utm_name=iossmf) ✅ + +- What is ComputerShare? 💫 + +- Do I own my GameStop Shares? 🙋 + +- [The GameStop x Immutable Partnership](https://www.reddit.com/r/Superstonk/comments/sjhi6f/gamestop_forms_partnership_with_immutable_x/?utm_source=share&amp;amp;amp;amp;amp;amp;amp;amp;amp;utm_medium=ios_app&amp;amp;amp;amp;amp;amp;amp;amp;amp;utm_name=iossmf) 🤝 + +- Was GameStop Stock Manipulated? 😡 + +- What are synthetic or phantom shares? 😶‍🌫️ + +- What is naked short selling? 😳 + +- Why is GameStops Stock Still High Reddit? 💨 + +- Why are Reddit users buying GameStop? 💰 + +- Is it Too Late to Buy GameStop? 👎🏼 + +Learn the story of GameStop Chairman Ryan Cohen, Keith Gill also known as DFV, and hedge fund manipulation to suppress the worlds best Gaming company. + +Dive deep into our GameStop Reddit r/superstonk and learn about the Immutable X partnership, NFT marketplace, and future of Gaming as we know it. Get a better understanding of how Loopring, Immutable, GameStop, and other potential mega partnerships are creating the next phase of human connectivity. + +## Information on GameStop 👈🏽 + +The answer lies inside of r/superstonk. Be sure to check out our [GME Daily Discussion](https://www.reddit.com/r/Superstonk/comments/spuz09/gme_daily_discussion_new_to_the_sub_start_here/?utm_source=share&amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;utm_medium=ios_app&amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;utm_name=iossmf), the [Beginners Guide to GME](https://www.reddit.com/r/Superstonk/comments/njwv6n/the_gme_masters_guide_a_dd_campaign_for_apes/?utm_source=share&amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;utm_medium=ios_app&amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;utm_name=iossmf), and the [GameStop Due Diligence Library](https://fliphtml5.com/bookcase/kosyg) for more information on all the above. + +Start by exploring our subreddit’s “About” and “Menu” section. And If you have any questions, feel free to reach out to any 🦍 , we welcome all. + + +——————————- + +Don’t forget to Buy, Hold, DRS, and support the best company in the world. 💎 🙌🏽 + +This is not financial advice, I just like the stock. + +TLDR Read my comment + +Edit* [MOMMA WE MADE IT!](https://www.reddit.com/r/Superstonk/comments/sq5our/we_did_it_stop_search_result_for_the_term_were/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) + +Edit* +I also eat crayons and paint water color paintings with my wee wee +The same questions are asked everyday and it's ruining the quality of the sub. + +Is 212 good or legit? +What ETF should I buy? +Is Greggs/ weatherspoons/ Cineworld/ Aston Martin a buy? +What is an ISA? Should I make an ISA? + +An FAQ or a warning to use the search bar would help this sub so much. Currently it feels like groundhog day every time I come on. Happy to help make one but feel there would be people much more qualified. +We all know this story: /u/Zinko83 and /u/MauerAstronaut came out with the DD on Variance Swaps a few months ago, with /u/Criand hopping in shortly after. And in a surprising twist, he was ***ENCOURAGING*** options, which as we ALL know are basically the devil. Right? + +/u/Criand got pushed back on so hard that it led him to retract statements and put out clarification. It was an ***AGGRESSIVE*** reaction that had myself, and probably many others, a little confused. We all trusted /u/Criand \- his theories on futures and swaps had been groundbreaking and we finally felt like collectively, we understood at least some of what was going on with our favorite company. And then not much later, he convinced us that ***DRS IS THE WAY***. And he was right! So why was he betraying us and "pushing" options? + +&#x200B; + +[BAD DOG!](https://preview.redd.it/8x0z0f543la81.jpg?width=317&format=pjpg&auto=webp&s=42eea681b34d0ec8390a17525d91f05682e7ef90) + +I don't mean to be "The Options Guy." I've dabbled in the past; some wins, some losses, but I'm certainly no expert. But I understand the concept, and I understand the basics of the greeks - enough to realize that 99% of the opposition to "options pushers" is ***FULL*** of misconceptions and in some cases, purposefully misleading information. + +I've posted before about how Thomas Peterffy was ***CLEARLY*** talking about exercising call options (that post is [here](https://www.reddit.com/r/Superstonk/comments/qya14y/thomas_peterffys_interview_had_nothing_to_do_with/?utm_medium=android_app&utm_source=share)) And now we find that this random video of Charles Gradante was (allegedly) suppressed; a video in which he spells out plainly that Call options were absolutely ***FUCKING*** Market Maker's day up last January. I see this all happen, and just a few days later we have this AH craziness with MSM pushing out NFT "news" as an explanation. + +This ***ISN'T*** a coincidence. **I am now 100% convinced that the AH move was meant to be an IV pump**, with the added benefit of controlling the narrative on the NFT marketplace. They ***NEEDED*** to price us out of options, and that little mini pump and dump was the quickest, and probably cheapest way to do it, on top of that added bonus of getting boomers to dismiss NFTs as a thing that matter. + +Even ignoring the variance swaps DD, I want to be very clear and explain to you all the reason that call options played such a big role in the January sneeze, and why ***DRS + Call Options*** are a death blow to shorts. We need to learn from history; not just GME's initial Sneeze, but also from another short squeeze example; the ***VW short squeeze***. + +&#x200B; + +[Oligatory: YOU ARE HERE](https://preview.redd.it/x3onlls53la81.png?width=397&format=png&auto=webp&s=ddeb3cb6c85b08cc214811c35398d793f7bce1db) + +I'm sure you've read the articles that explain the VW short squeeze that occurred in 2008. One fateful day, Porsche announced that it had essentially locked up 74.1% of the float, causing shorts to scramble and close out. You've also probably heard the theory that RC kept tweeting at 7:41 as a nod to this number. Personally, I think that theory is likely the right answer. + +But here's the thing: the final catalyst that kicked off the VW short squeeze wasn't JUST that Porsche owned 74.1% of the float. In fact, they didn't! They had accumulated shares representing 43% of the float, but in a turn of events they had ALSO purchased call options for shares equivalent to 31% of the float. Yes you read that right, **the VW squeeze was kicked off in part by an enormous purchase of call options.** + +I already know what a lot of the responses to all of this will be. ***"How do we know that Market Makers are even delta-hedging?"*** The fact is, they probably aren't. According to this guy Charles, that's what happened in January: MMs weren't hedging call options initially, but it got to a point where they couldn't keep ignoring it, and they ***HAD*** to start hedging, at least partially. Here is why. + +The rules that govern call options are ***DIFFERENT*** than the rules governing regular shares at settlement. We all are keenly aware that when you buy shares, they can delay delivery by over a month before there are any real consequences, and even then there are a million ways for them to keep kicking that can. That's what we've been seeing and dealing with all year - it's plain as day that they can hide FTDs out of view, whether it's by rotating through ETFs or by creating more synthetics, or whatever other methods that we probably don't even know about. + +Well, with call options, when you exercise, the seller must deliver the security by t+2. I'm not 100% sure on this area so I'd love some help here, but I would swear I've read some MM exemption that they get t+6, but I might be completely misremembering that. Either way, once an FTD happens at T+2, this is the giant kicker, as per the ***OCC Clearing Rules, Rule 910 Part B:*** + +"***If  the  Delivering Clearing Member  has  not  completed  a required  delivery  by  the close  of  business  on the delivery  date,  the Receiving Clearing  Member  shall  issue a  buy-in  notice,  in  paper  format  or  in automated format  through the facilities  of  a  self-regulatory  organization that  provides  an automated communications  system,  with respect  to the undelivered units  of  the  underlying security,  within  20 calendar  days  following  the  delivery  date,  and shall  thereupon buy  in the  undelivered securities."*** + +So with regular shares, you'd get T+2 before the FTD, but then Market Makers get T+35 before getting in trouble/being forced to buy in (assuming the underlying isn't on the threshold list). Like I said, in this case they have over a month to juggle things around. But with exercised call options, if they fail at T+2 they are immediately forced to issue a buy-in of the underlying, which has to happen within 20 days. At least that's my understanding. + +This is why Thomas Peterffy was shitting his pants back in January. As he said, "according to the current rules," brokers would need to go out into the market and buy the shares. + +&#x200B; + +[Actively Soiling His Drawers](https://preview.redd.it/mq0p4w0a3la81.jpg?width=434&format=pjpg&auto=webp&s=792d33181c26cf042db08c0caf040ee102387429) + +But that's only a small piece of why call contracts are so deadly. What I would argue is more important, even, is the leverage. We all know that DRS is the way. Again, ***DRS IS THE WAY***. But with DRS'ing, we need to collectively purchase and register something like 50 million shares to "lock the float." At current prices, that means we need to register $7 billion worth of GME shares. And as you all know, the price of GME is volatile so that is bound to go up over time - with our current cost basis averaging probably $160ish we'd need $8 billion. + +With call options, to "lock" the same 50 million shares, we would need to own 500k contracts. We don't want to buy low-delta crap, so a contract can be expensive. But at say, $3k per contract, we'd only need to invest $1.5 billion to "lock the float." Also, what probably makes this even scarier for hedgies is that there are several hundred thousand of us here - so unlike DRS which is going to be very slow going, this is something that is actually attainable if it catches on, even just in this sub! + +We also know already that we've probably got somewhere between 10 and 20 million shares locked via DRS. This is great and it plays into making calls that much deadlier. Remember back to the Peterffy interview - he said "we had 50 million registered shares." By "we," he meant the NSCC members who can pass those around through the share borrow program, ie; brokers. Well now, "we" only have maybe 30 million registered shares. + +The point is this: statistically, some % of ITM Call contracts are going to be exercised. Market Makers know this, and can probably delay hedging until they absolutely must do it. ***So when do they have to hedge?*** When they do the math and recognize that they are about to owe a lot of shares to those that DO choose to exercise. Because at they point if they don't, they are ***guaranteed*** to get fucked. + +Last time around, we know the number was around 150 million shares worth of calls that they were short on. My hypothesis is that it'd take much less these days, because they are likely even more short than they were last year, and because we have locked up a significant portion of the float. I don't think it's possible to know an exact number, but if we make waves here and the OG sub starts catching on, like they did with the recent AH activity, it's game over. Kaboom. + +&#x200B; + +Alright, I know this has been a novel. I am going to reiterate over and over, that ***DRS IS THE WAY***. If you have shares, why would you trust a broker to hold them for you? But the ***ULTIMATE*** death blow to shorts is a slew of options contracts with decently high deltas, ***ON TOP OF DRS***. And bonus points for anyone that exercises and then DRS's the shares. MM's won't hedge at first, but eventually they ***HAVE TO***. This was the position they were in last January, and what made them freak the fuck out enough to turn off the buy button. It's not some theory. It's been proven at least ***TWICE*** now between the January sneeze and the VW squeeze: options give leverage and force a squeeze faster than individual shares. + +Cue the anti-options FUD, but hey I'm ready to take it on. **Let's fucking go SuperStonk.** + +EDIT: like my peterffy post, since this blew up and my dm's are now full of options questions, I really want to link /u/digitlnoize's options DD. If you are looking for a primer, these posts do a really great job of laying out the basics. + +Part 1 [here](https://www.reddit.com/r/Superstonk/comments/qunfd5/apes_guide_to_options_part_1/?utm_medium=android_app&utm_source=share) + +Part 2 [here](https://www.reddit.com/r/Superstonk/comments/qz0oy6/apes_guide_to_options_part_2_the_search_for_more/?utm_medium=android_app&utm_source=share) +At the beginning of 2020 I didn't even know how to buy a stock. Now I have over 44k invested with about $1,800/year in dividends. It's not much, but still it's like I give myself a little raise every time I add to my portfolio. I never knew growing up how to make my money earn me more money. Family always told me the stock market was a scam and school didn't teach anything about it. I wish I would have figured this out when I was 18 or 19 instead of blowing all the thousands I'll never get back. +I don’t mean this in a condescending way. I don’t mean to start an argument, or be socially disruptive. I’m not here to ruffle feathers. + +I’m here to be truthful and literal. + +1.) People give opportunities to who the relate to. White people see a hardworking White man who deserves a shot, and they’ll put him on. It might take 10 try’s but that White man will eventually be put on. Professional Black people never give shots to hardworking broke black people cause they think they’re better than them. Hence we are the only demographic that can’t get in through relatability. + +2.) Being a “Hood dude” means your psychology is different. The hood isn’t a place. It’s a tool to disenfranchise. It’s a weapon used against people that an environment wishes to subjugate. This doesn’t mean you’re stupid, or not deserving. But it means you communicate differently emotionally and have different morals than most of the people you’re working for. + +3.) White professionals tend to only see things through their experience. “Stop making excuses”. “Pull yourself up by your bootstraps”. “Life sucks get over it”. Not realizing that everything they’re commenting on or experience is magnified 10x for a Black man from the hood. + +4.) Unless you grew up seeing your family killed, seeing your friends killed, not eating for days (or only eating chips and candy), seeing the women around you molested, having a decrepit visual of blight everywhere you go, and being indoctrinated to participate in the black market economy (crime) from a young age, and all with no Father around... You won’t understand. + +Bettering myself is so hard. So fucking hard man. I’m drowning. White keys to success aren’t working for me. I’m scattered and lost. And alone. Contemplated suicide last week for the first time. It is what it is. I’m about to be homeless very soon. I have enough money for a greyhound ticket. I just want to be seen as human. +Currently have 3M€ (2.5M in an investment fund doing well {around 13-16% yoy} and 500.000€ cash). Many years ago I bought a stake in a company that is being sold and will net me an additional 7-8M€ after tax. I live a comfortable but not excessive life in Spain and my earnings more than cover my living expenses plus occasionally luxuries/hobbies. What on earth do I do with the extra? I have an initial meeting with JP Morgan private bank next week and another with Santander private bank. My fear is that this is such an unknown for me, I will make bad decisions because I don’t have enough knowledge. +Grateful for any advice. CGT is around 24-26% here. Rent and additional expenses around 150.000€ annually (earnings exceed this). I’m 45, love my job and nervous about messing this up. Very keen to donate a significant chunk either via a foundation or privately. +So, I'm not sure if this is an appropriate sub to post my story. By all means, remove it if I'm breaking a rule. I'm not a huge reddit person, so if anyone knows any other subs where this story would belong, please let me know. This story takes place in the USA. + +I want to start off by saying that my story isn't particularly exceptional. There are absolutely people out there who have come into far more money and wasted it all. I have had people tell me that it'd be more surprising if I *hadn't* messed up as I did, due to my age and utter lack of guidance or foresight. But I'm not here to spout excuses, nor am I looking for judgment or any "You should have used it xxx way instead." This happened 6 years ago - it's far too late. I certainly do wish I had come to a place like this for advice back in the day, though. I am posting this to share my experiences - either for entertainment purposes, eye-opening information, or as a warning to others who come into any sizeable amount of money. + +Let me be the perfect example of everything you DO NOT DO with a large amount of money. It has taken years for me to build up the courage to sign back into my old bank account and look at this information and these numbers. I literally could not bring myself to do it for a very long time. The first time I tried, I had to turn the screen off almost immediately. And that was 5 years after it was all over. I have spent a long time just trying to forget and pretend this never happened - even going so far as to omit this part of my story entirely when I share my life experiences with others. But, I am trying very hard to face myself and my problems lately, and this is part of it. I can honestly say that these mistakes have absolutely *fucked* up my entire life and taken my only chance away from me to gain a proper foothold in society and be on the same level as anyone else who was able to go to college and get a properly paying job. Now, my situation itself is fairly rare. But, I think universal lessons can be taken away from this. Hell, regardless of any of that, maybe this will simply entertain a few people at how fucking *stupidly* easy it is to waste this much money. + +I won't get too much into my life story, because it's very long and complicated. But basically, I had slightly older middle-class white parents with good jobs. They both had type-2 diabetes and didn't manage it. So, they both passed away at different times once I turned 18 and had just finished high school. The rest of my family didn't give a shit about me after that, instead my half-siblings and my dad's new girlfriend (parents had divorced 2 years before dying) just vultured and stole away 1/3 of my dad's life insurance money that really should have went to me, because they were all financially stable and didn't need it, whereas I literally had nowhere to go and couldn't get any help since I was already 18. If there was anywhere I could go for help, I sure as hell didn't know about it since I grew up without needing social assistance or anything like that. + +But in any case, my 1/4 portion of my dad's life insurance was $116,000. (Mom's was just 10 grand and I wouldn't get it until 1 year later and it was also wasted in the same way so I won't elaborate on that part) If anyone is curious about how it was so high, he was an airplane mechanic at a major international airport in Houston. He had life insurance through his job through MetLife. + +I continued living in his house until I got the eviction notice. (It wasn't paid for and I couldn't afford the payments on it.) Then I just ran around like a chicken with its head cut off, staying at hotels at a weekly rate (the one thing I did right - use weekly rates if you need to stay for a prolonged period of time!!) and ordering pizza every night because I didn't have a stove to cook on and was too much of an idiot to just buy bread and microwaveable food or something. + +You'll find a lot of that in this information I'm going to share - I was just a fucking idiot. I was 18 years old (turned 19 soon after getting the money) and I grew up in Texas where we have a garbage educational system even compared to other states. My parents never taught me anything about financing since they had so much damn money every paycheck that they never had to worry about saving or investing properly. I literally had no idea what to do and didn't even think of even asking online for advice, much less going to see a financial advisor. I didn't know they existed! + +Now, I will let my bank account speak the rest for itself. The following is a video of me scrolling down my transactions on my bank's website. This account has been closed for years now, so I see no danger of anyone causing any harm. It's not like the account numbers are shown in full or anything. And yes, I used Hypercam to record because OBS wasn't working. :') It's a pretty long video, so it's probably easier to fast-forward it a bit. I open a text document and briefly explain some major purchases. + +[https://www.youtube.com/watch?v=e52uLIr\_A2I](https://www.youtube.com/watch?v=e52uLIr_A2I) + +The Too Long Didn't Watch version is: + +The $116,00 was deposited on November 19, 2013. By June 30, 2014 it was gone. + +\- $33,000: old house in the slums of Toledo, OH that I did not realize was in the slums because I did not research the area beforehand and even ignored a warning from my real-estate agent's husband about the area because 19 yo me was an idiot. **I lost $25,000 here** because I only was able to sell it back for **$8,000** due to vandals. + +\- $17,000: Two different overpriced used cars bought from dealerships that together did not last me beyond mid-2016. + +\- $5,000: Paying for the repairs of my car by myself after I swerved due to ice on the highway and crashed it. Did not know that auto insurance pays for repairs even if it's your fault. \*facepalms\* + +\- $2,600 on an Alienware PC that stopped worked after 3 months because I accidentally spilled water on it and thus was not covered under the warranty. + +\- Thousands on a big TV, furniture, and appliances that ended up getting left behind at the Toledo house because I didn't have enough money to move it to the next place I went to live at with my partner after fleeing the Toledo slums. + +And the rest? Eating out/food delivery every day due to being too afraid to drive after the wreck and witnessing people driving like maniacs every time I went out on the roads in Toledo, ordering lots of anime figures and various goods of that nature, tons on digital entertainment like Second Life money, cosmetic items on mmorpgs, and currency for mobile games that I no longer play. + +Combine all of this with earning no income from any sort of job, and that shit just drained riiiight on out. + +It is now April 2020. I will spare the details of my personal situation and everything that had happened personally over all these years, but I have ended up homeless multiple times. I have type-2 diabetes that was diagnosed *before* my parents passed away, and all of that eating out has permanently ravaged my health and progressed the disease to the point where I now feel very lethargic from simply eating a few slices of bread. I have also been unable to afford health insurance to pay for medicine for years. And now that I finally moved somewhere (Michigan) that has a way for the poor to get health insurance, this corona shit just exploded and I can't go see a doctor to get any medicine because the bus system won't take anyone anywhere for a non-essential medical trip. If I wasn't working part-time at a grocery store right now, I'd be fucked and homeless. Again. + +All that stuff I bought with the money? Yeah, I don't have any of it anymore. The ONLY thing I still have is the $2,000 Alienware laptop that I bought alongside the PC. It runs like shit now since it's been 6 years, and it probably will stop working at any moment. Being forced to move around a ton and ending up homeless caused me to lose everything else I had. (Which wasn't even that much - most of the money had went to eating out and making big dumb purchases that didn't last) I'll add that my mental state was actual garbage throughout all of this as well. I have often felt as though I'm living in a post-apocalyptic alternate reality that was caused by my mistakes. It has taken this long to feel comfortable looking at this bank information. I still wince. I have to laugh at myself to keep from plunging back into the sea of regret and despair. I've floated in that sea from the moment I started wasting that money. + +And there that's my story. I saw my $1,200 stimulus deposit two days ago and just laughed at it. I'm going to pretend it doesn't even exist. I fucking *know better*. I walked through the fires of Hell to learn not to waste money, heck if I'm going to repeat the past even on a small amount. + +If anyone would like me to send them my account statements (they're in formats unfamiliar to me like .ofx, .qbo, and .csv) in order to make any sort of compilation of data or even to study out of curiosity, just send me an e-mail. (I've got reddit messages turned off) You can find it in the About tab of my Youtube channel. + +Thank you for your time. I am happy to share my experiences, no matter how idiotic and full of shitty mistakes, if it can help anyone at all, or even make a single person laugh. +And why did we instead started listening to the uneducated opinions of billionaire superstars, who have already shown through their work ethics on their companies that they could not care less about decentralisation, have no vision for the space apart from profit and memes, and are now working behind closed doors on something that could potentially result in a major fork, where the core issue not only isn't technical, but could be absolutely catastrophic for transactional freedom and decentralisation of miners. + +Please people, please stop feeding them with attention, clicks and your time. Let their own incompetence be their downfall and let people like the aforementioned blockachain pionners and many more that we know exist, provide the appropriate counter arguments. +&#x200B; + +https://i.redd.it/bti3667c1ku11.png + +By trading tokens, you admit that you have the required lawful limit and authority to enter under + +a binding legal agreement moreover you have read and agreed to all the terms and conditions + +stated on the website and the Swachhcoin whitepaper. If you don’t agree to the stated terms + +then you must not purchase any Swachh tokens. As the Sale Event is conducted electronically, + +any member might partake over it, provided that he is, at least, 18 years old (or over, as required + +by the laws that may be applicable to each Participant) and that he has authority to enter into a + +binding agreement in order to purchase tokens from this website. It may be each participant’s + +obligation to go along with all relevant laws of participant’s jurisdiction, including anyhow not + +restricted to bitcoin cryptocurrency regulations, tax and contracts laws. Sawchhcoin operators + +under holds no responsibility for your conduct, and will not withhold any taxes for you. We exhort + +that only the individual members with the necessary and pertinent experience and knowledge to + +manage cryptographic tokens, cryptocurrencies and/or blockchain based frameworks participate + +in this sale of tokens. +Last autumn I've explained him one or two things about dividends and he was excited. Basing on the companies he knows he bought three stocks (AT&T, Coca-Cola, and Waste Management) and now told me that he has "more than $2 in dividends already". +**Before I start:** I received my PhD studying drug delivery platforms of small molecule and protein based immuno oncology therapeutics in 2019 from one of the world’s best universities. I will not disclose anymore personal information since it looks like this forum is under a lot of scrutiny. + +&nbsp; + +Let me give you all a little historical background to Immuno oncology (I/O). I/O is an incredibly hot field of cancer therapeutic research today that harnesses your own immune system to fight off cancer. Think of a vaccine that trains your body to kill off cancer cells. In ideal cases, the patient gets some flu like symptoms (that’s their immune system being activated), and then they go into full remission, with their immune system protecting their body from cancer. + +&nbsp; + +The first major blockbuster I/O therapeutic that was FDA approved was Nivolumab, an anti-PD-1 antibody. It was approved in 2014. One year later, Yervoy (CTLA-4) was FDA approved. Three years later (2018), Professors James Allison and Tasuku Honjo share the nobel price in medicine for discovering CTLA 4 and PD-1, respectively. In other words, this shit is a big deal, and is now believed to be the ideal therapeutic modality to cure cancer. + +&nbsp; + + +**Okay-Superstonk time** + + +&nbsp; + +The other night I was watching the wall street conspiracy, after it was mentioned in a couple of superstonk interviews. About 10 minutes in, they start disclosing an example of naked short selling of a biotech company called “Viragen”, and how their treatment could cure multiple sclerosis and metastatic malignant cancer. There was this stock broker and an ex employee of Viragen talking up this treatment, and how it could cure cancer. + +&nbsp; + + +Their stock was naked short sold on the open market, tanking their share price, and preventing them from raising funds, destroying their credit, and ruining their future prospects. Sound familiar? + +&nbsp; + + +I rolled my eyes and called bullshit: you know how often universities “cure” cancer? About once a week. Odds are that this was some bullshit treatment, or it was some minor tweak of chemistry on a chemotherapeutic. Yeah, the medical and scientific community would “suffer”, but honestly, no big deal. + +&nbsp; + + +But then they called out the drug name: Omniferon, which immediately struck me as an interferon therapeutic, as early stage drug companies are rarely creative with their names. I immediately stopped watching, and looked into Viragen. What I found got my blood boiling. + +&nbsp; + + +There’s no longer very much information about Viragen, but what I found was that: Viragen was a biotech company founded in 1980, and their lead candidate was a multitype human interferon alpha, starting their clinical trials in the early 2000s. + +&nbsp; + +What is interferon alpha, can it cure cancer, and why do we care about a company founded in 1980? Well, to get started, interferon alpha is a protein based immune cytokine that modulates immunity. In ape-speak, this thing can jump start your immune system. Useful for things like… I don’t know, cancer, covid, Hepatitis, HIV, etc? There are currently over 3000 clinical trials recorded on the use of interferon alpha for dozens of different diseases: https://clinicaltrials.gov/ct2/results?cond=&term=interferon&cntry=&state=&city=&dist= + +&nbsp; + + +So wait, this company was working on an immunotherapeutic all the way back in 1980? Yep, it looks like it. Before oncologists had even coined the term immuno oncology, these guys were trying to do it. Let’s look at the timing of their drug development and compare it with another therapeutic: Peginterferon alfa-2a and alfa-2b, two modified single type interferon alphas that is sold today be Merck. They were clinically approved in 2001 and 2002, respectively. Viragen’s multitype interferon was hot on the heels of Merk’s therapeutics, with phase II clinical trials in Europe ongoing around the same time: https://www.bizjournals.com/southflorida/stories/2001/06/18/daily33.html + +&nbsp; + + +In vitro studies showed that their multitype interferon was superior to Merck’s interferon in vitro: https://www.biospace.com/article/releases/viragen-inc-multiferon-r-shows-potent-activity-in-preventing-the-progression-of-malignant-melanoma-study-to-be-published-/ (just a heads up, as a scientist, I can tell you this study drew the wrong conclusions from the data, but thats not the point. This was a legitimate company trailblazing one of the hottest biopharma fields today) + +&nbsp; + + +Lastly, in spite of all of the naked short selling of Viragen, they were still able to get clinical approval of multiferon in Sweden: https://www.thepharmaletter.com/article/viragen-s-multiferon-approved-in-sweden. + +&nbsp; + + +So let’s recap. Viragen was an early trailblazer of today’s massive field of immuno oncology, which lead to two nobel prizes in 2018. They gathered a team of talented scientist, technicians, clinicians, and businessmen to drive forward a potentially groundbreaking cancer therapeutic. They were shortsold into the dirt because shortsellers in the early 2000s did not understand what I/O was. In spite of all this, they developed an immunotherapeutic that had enough clinical success to be approved in Europe, in spite of their inability to raise funds on the stock market. Imagine what they could have done if they weren’t short sold? + +&nbsp; + + +This leads to another question that really gets my blood boiling. What other companies are developing new therapeutics, or trailblazing new scientific, medical, or engineering modalities that are getting short sold into the ground? I know of three companies off the top of my head in the EV space (QS, TSLA, and RIDE…DO NOT BUY THESE COMPANIES RIGHT NOW, GME IS THE MOASS) + +&nbsp; + + +Short sellers are not innovators. They are not scientists. They do not have the ability to think outside the box and see what others do not. They do not understand the technologies they are shortselling. They do not know the feeling of spending countless nights in the lab trying to achieve their vision, frustrated by all of the setbacks, but driven by the potential of their work to change the world. Short sellers are parasites, taking advantage of innovative technologies that the average investor does not understand. They naked short sell, and spew FUD to make money, all while driving perfectly good companies in the dirt. + +&nbsp; + + +Fuck these guys. They all belong in jail. Short selling should be banned. I’m not selling. +I've heard this statement brought up in some debates I've had over taxation policy, particularly coupled as evidence for the statement "if you tax the rich, they will leave" and so I ask where this happens or happened to be the case despite reliable evidence to the contrary (such as [here](https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3389850) and [here](http://www.peri.umass.edu/fileadmin/pdf/published_study/Migration_PERI_April13.pdf)). + + +In one particular discussion I had over this, the other side cited a rather sketchy documentary about Sweden that only vaguely alluded to "many people leaving the country \[of Sweden\]" due to "the high taxes" and only mentioned the founder of IKEA in particular ([this one](https://www.youtube.com/watch?v=jq3vVbdgMuQ), I wouldn't recommend watching it since it gives no reliable sources throughout and only relies on the testimony of some individuals), but this discussion got me thinking about where exactly the evidence is for this. + +So my first question is the one in the title: Are high taxation policies in Scandinavian countries such as Sweden (or just Sweden) causing rich people to leave Scandinavia, if they are leaving? If so, is there any reliable academic research that gives evidence for this? + +And my second question is: Is there any reliable academic research that gives evidence to the idea that countries that impose high taxes on the rich causes rich people to leave said country? + +I hope to not spark a flame war here nor is "taxing the rich causes them to leave" a view that I hold. I'm only asking if there's any reliable academic research that confirms these ideas despite much of the other reliable academic research on the topic suggesting the contrary. +HPQ-Silicon Resources Inc: tickers (hpq.v - tsx and uragf - otc) has developed technology that reduces the cost of producing silicon-based spherical nanopowders & nanowires, making this company an essential leader of the renewable energy revolution moving into the future. + +HPQ is currently being shorted by cynical wall street investors trying to leech off of the company’s value. These predatory tactics are limited, however, as HPQ has a growing legion of loyal supporters that will soon send shorters into oblivion. + +Why is HPQ being targeted by shorters? HPQ has the backing of the Quebec government and is partnered with Pyrogenesis, an equally promising green-solutions company that has attracted the attention of the ARK investment portfolio. HPQ’s nano silicon powder will be instrumental in making silicon batteries, hydrogen fuel cells and solar panels to deliver on a promise for a greener future. HPQ has recently surpassed industry expectations by producing silicon nanopowder smaller than 100 nanometers, which is critical for these applications. + +The HPQ/PYR dream team has the ability to produce economically viable Si-NPs (nano size of is totally customizable) using a process that is SCALABLE. This breakthrough is exclusive to HPQ Silicon and holds the key to renewable energy profits in the aforementioned sectors. As a result of this potential, HPQ has already secured NDA’s and orders for their product from electric vehicle manufacturers. + +HPQ’s ability to produce high-quality silicon powder at far cheaper rates than its competitors (with little to no environmental footprint) makes this company a highly strategic acquisition by TESLA and other EV companies. You owe it to yourself to do some due diligence in this company if you consider yourself a renewable/green investor, or wanting to join the movement of sending cynical shorts crying home to their mothers. + +This is the year that HPQ reveals its partnerships that will bring the renewable energy revolution to reality; a disruptive innovation in silicon production using low-cost, green technology, creating a paradigm shift in energy storage & generation. +The S&P 500 is almost exactly at the same place it was in January. The Dow hasn't recovered as well yet, but it is still at where it was in October. This is true despite COVID-19 preventing trillions of dollars in economic activity. + +I understand some of mechanisms used to fight the financial crisis in 2008 and how we are using them now. However this crisis seems to be totally different than 2008. The lost economic activity is directly from people not being able to work. It isn't value being lost on a balance sheet when investments fail. It isn't companies going into financial distress because they don't have the cash flow to continue operating. Those problems seem solvable by pumping extra money into the system to get through the temporary disturbances. This seems different. This is people literally not producing value and that lost value is never going to come back. + +How is the stock market not reacting to this? Isn't this a sign that the stock market either was in a bubble previously, is in a bubble now, or is being propped up by huge inflation that is right around the corner? +Hey guys! My name is illbus and I'm 15 rn. My school is planning a trip to Tokyo, Japan in ~14 months, and I don't think my family can afford to pay for it. I'm willing to do anything (legal) to make the money myself since (a.) I really hate burdening others with my problems, and (b.) My mother is more likely to say yes if I'm able to get the money myself. If I could, I would get a job, but there's not a ton of places to work as a 15 y/o in a prominently older city. + +I'm good at photo retouching, but no one wants to hire a 15 y/o with no experience. I've also worked with scanlation teams (people who voluntarily translate Japanese manga to other languages) as a proofreader. Currently, I have almost 80$ saved, which is less than 1% of the amount I need. + +If possible, I'd also like to help others be able to go since I like helping people, so if you have any advice about that, please let me know. + +I really appreciate anyone who answers and tries to help. +Our population has barely grown, and we continue to add new homes. Yet housing prices are up nearly everywhere. I might expect this in San Francisco. But Cleveland? Pittsburgh? I know individuals with 50 to 75 homes they rent. Is that business model radically distorting the market? Most people I know with “typical” jobs are in the $10-12/h range, not enough to pay a $2,000/month rent. So, where is this heading? +Fair warning, I’m still fairly new to investing. I’ve been investing for about a year and doing theta strategies for a few months. + +Also, I will admit that on top of wheeling, I also have been doing lots of covered strangles way OTM which are my preferred theta strategy for stocks I want to hold longterm. + +Anyway, traditional buy-and-hold investing was always stressful to me, and I finally understood why: + +First, when you’re only holding shares, you’re stuck in a position where you always need the stock to go up. Down = bad, sideways = bad. Then, if the stock goes up, you’re faced with having to decide between selling and holding. Selling too early = bad. Holding too long = bad. And you face the same choices when you have to decide whether to close a losing position. + +Worse yet, all your gains are unrealized until you sell. So to lock in profits, you have to decide you’ve ridden the momentum as far as you can, then find the next big thing, and on and on. It’s time intensive to DD the right stock each time, and the more you do it the likelier you are to get it wrong eventually. Not only is it unsustainable, but losses are proportionally much greater than gains. For example if you lose 50% of your capital, you now need to make a 100% gain to get right back to where you were before. A proportional loss will always be twice the size of a proportional gain ($1 lost = $2 gained). + +And on top of all that, any income that you pay yourself from your shares will eat into future profits. To use any of that money you have to exit your position, no way around it. Long term investments are money you won’t see for years, for better or worse. + +And this is all just in regards to “low risk” shares, let alone the added risk that comes with using margin, buying options, or naked trading. + +Since employing theta strategies, there is always a way to profit from any kind of stock movement. Down = CSP. Sideways = covered strangle. Up = CC. If it’s a stock you want to keep longterm, sell further OTM. Stock is losing volatility = sell closer to the SP. Gaining volatility = covered straddle. Just want to buy normal shares = CSP ITM. Just want to sell CC without using capital to buy shares = PMCC. Want to reduce volatility on your overall position = wheel. Use premium as income or roll it into more shares. I haven’t really explored diagonals and verticals yet but that opens even more doors. + +You can use margin with relative safety by using it as collateral on a CSP. Of course you should take a more conservative approach and close out losing positions at a small loss to avoid assignment, but you’re only risking a fraction of the true value of your margin. Not sure you can find a lower risk way of using margin than that. And since the biggest “cost” of a CSP is the collateral, you’re greatly reducing the cost of the CSP to begin with. + +The possibilities are endless and you can actively manage your portfolio without giving up any ground on the positions you want to hold longterm. Time is always on your side, so rather than having to fight FOMO and trying to beat the crowd to the next big move, you’re rewarded with being patient. And as long as you’re mindful of delta, you can check your positions once or twice a day and step away without stressing that you’re missing a critical movement. + +I’m sure I’ve made mistakes in this post so please feel free to correct any or point out anything I may have missed. +January holder here. One of my biggest concerns in the early days of this whole saga was centered around the Prisoner's Dilemma. If you aren't familiar with the Prisoner's Dilemma, imagine two people involved in a crime separated in different cells. They both know if they keep their mouths shut they will both go free. The wrinkle is the DA has offered a deal - the first person to rat out the other goes free. This changes the whole dynamic. The only way to *guarantee* you go free is to snitch on your partner. The outcome which will help everyone get what they want is now the riskier path to take. A version of this was depicted in *The Dark Knight* with the two ferries armed with bombs and each detonator was given to the other boat. + +The first time I learned about GME, I understood it. This is not my first rodeo in the stock market and you didn't have to explain what a short squeeze was to me, I just needed to see the numbers. The numbers on GME showed what was possible - a short squeeze like the world had never seen before. However, because of the unique distributed nature of this short squeeze by retail investors an enormous Prisoner's Dilemma formed and I was unsure how this would play out. GME is a very unique situation and I don't know of any historical examples like it. + +Holding GME stock was like being a prisoner with **1,000,000 other prisoners** anxious to get out and make a quick buck. If a third of them decided to sell, the whole thing could fall apart and we'd all leave empty handed, or worse, broke. + +But you know what? I'm still here. And you're still here. Despite two days that had insane price drops and immense pressure on apes to sell (especially those who got in at high prices), we're still holding strong. In fact, many of us doubled down and bought more. It actually gives me hope in humanity that millions can trust others enough to put their own hard earned cash at risk. It's kind of...inspiring. + +My sister bought GME at $320 in January. She hasn't sold a single share. Do you know why she hasn't sold? It's because she trusts you. I no longer think about the GME Prisoner's Dilemma because I trust you too. We've been thrown under a giant mountain of weight and told to sell our shares and protect our money. + +But the mountain didn't crush us. + +It just turned us into diamonds. +Hi, + +I am 44. Married. I live in a smaller midwest tech hub and have accumulated about $8M in net worth. That is a $950k 401k for myself, about the same for my spouse's 401k, $650k paid off house, about $4M in various Vanguard funds, $250k Roth IRA. $150k in unsold vested company RSUs. Some 529s for my 2 kids (age 14 and 11) that probably have $200k or so. + +I have some amount of anxiety and have held about $700k in cash the past several years (anywhere between 10 to 20% cash position). I know that is/was kind of dumb. But I've *never* been an optimistic person in life and always expect a massive crash to happen or worse. I mean I expected WWIII to occur in 2016 and it might actually be happening in 2022 instead. + +Add it up and our net worth is probably close to $8M. So while I definitely haven't been optimal in financial investing, it seems I've done somewhat ok. + +I previously tried two financial advisors-- horrible and high fees. Tried a robo-advisor. Back to self-managed with index funds. Mainly buying VTSAX, VWILX, VBTLX, VTMGX, etc. Sitting at a 83% equity, 17% bonds or so. + +Part of my problem is that I'm not really living life. I've lived in the midwest my whole life. I've been with a single woman my whole life (my wife who I met at 22 and married at 24). I spent my 20s in grad school. At the same company ever since. Everything is kind of "bla". There is probably a so-so chance I could get divorced at some point because things have been a bit strained. On the other hand, I don't think I ever could either since I do love her (but who knows she could divorce me). + +Money can't buy happiness. I know. + +\* Even though I'm not that inspired by my job anymore, I think I need to milk my \~$800K/year compensation while I can because the gravy train probably won't last. I'd love to reach a $10M net worth and then maybe "try" something different like a job at a startup company where equity is all paper value. My wife makes between $100k and $200k. + +\* I know I should keep working my cash position down to probably 5% or less. I don't feel comfortable moving $200K at a time, so every few weeks I dump another $50-60k in Vanguard fund and am trying to do so at a rate that exceeds my income. But maybe dollar cost averaging says I should just be brave and take my $700k position down to $300k in one fell swoop. + +\* I know that I should spend more money on vacations or other ways to enjoy life. Trying to do so but my two kids have anxiety issues and don't like to do anything. + +\* I drive a 6-year old Hyundai and should maybe buy a BMW I've always kind of wanted. + +When my kids finish high school, I absolutely want to make sure I'm spending midwest winters someplace warm. I hate winter. Yet still live here. + +I could also see myself finally just moving to out West at some point. Part of me wants to do so now (I've plateaued in my career since the action is out West), but I have a 14-year old with serious social anxiety issues and a wife who is also change adverse. And frankly I'm finally starting to make some friends and community connections around here which has been a struggle. + +Somebody advise/inspire me :-) Money can't buy happiness but maybe I can manage it better. + +And I know I sound pathetic. Tons of people would be thrilled to be in my position. +The Royal Swedish Academy of Sciences has decided to award the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2021 to David Card “for his empirical contributions to labour economics”, and to Joshua D. Angrist and Guido W. Imbens “for their methodological contributions to the analysis of causal relationships”. + +#### Nobel Prize Committee + +* [Video announcement](https://www.youtube.com/watch?v=nUTRasDkXK0) +* [Summary](https://www.nobelprize.org/prizes/economic-sciences/2021/summary/) +* [Press release](https://www.nobelprize.org/prizes/economic-sciences/2021/press-release/) +* [Popular science background: Natural experiments help answer important questions](https://www.nobelprize.org/uploads/2021/10/popular-economicsciencesprize2021.pdf) +* [Scientific Background: Answering causal questions using observational data](https://www.nobelprize.org/uploads/2021/10/advanced-economicsciencesprize2021.pdf) + +#### Press coverage + +* [NYT: Nobel in economics goes to David Card, Joshua Angrist and Guido Imbens.](https://www.nytimes.com/2021/10/11/business/nobel-economics-prize-david-card-joshua-angrist-guido-imbens.html) +* [CNN: Nobel Prize in economics awarded to David Card, Joshua D. Angrist and Guido W. Imbens](https://edition.cnn.com/2021/10/11/business/nobel-prize-economics-winner-2021-intl/index.html) +* [CNBC: Nobel Prize in economics awarded to David Card, Joshua D. Angrist and Guido W. Imbens](https://www.cnbc.com/2021/10/11/nobel-prize-in-economics-awarded-to-david-card-joshua-d-angrist-and-guido-w-imbens.html) +* [AP: 3 US-based economists win Nobel for research on wages, jobs](https://apnews.com/article/nobel-prizes-business-europe-3cbc672f994ae6f4f486a68b52c2bb32) + +This page will be expanded with additional news coverage and commentary as the day progresses. Please direct all Nobel discussion here. +Don't qualify for credit or medicaid. + +Faced with the choice to either keep my teeth for $1800 a piece, or lose them forever for $200 a piece. + +Dreaming of life with a mouth full of healthy teeth and no more pain, or trouble eating food, or shame keeping me from smiling. + +MEANWHILE, the rich get richer and richer. +Probably use $1800 teeth to wipe their dog's asses. + +Wondering how long I can delay this choice and keep a full set of teeth before they end up killing me. Can they wait another 4 years until we have the chance at a president who gives a shit about people like me? + +If I was born in any other developed country, I wouldn't have to dream or wonder about these things. + +In those countries, teeth are a right. +Considering the chip shortage has been going on for a year or so now, I'd expect some company to step in and start producing them. Is the barrier to entry too high? Trade secrets / patents? Something else? +Cathie Wood is a living, breathing meme IMHO, and I can’t believe I held on even this long. She’s over-invested in now-illiquid companies, and every few days she makes a new pronouncement to keep herself in the headlines, but then she trades in entirely different directions. Buys Z, sells Z. No wonder outflows are accelerating. I give her another 6 months before it’s down 80%+ for the 18 months preceding. Sorry, rant over. + +P.S., If you’re in ARKs, get out now!! +Are all of you deploying your algos for millions at HFT firms? Are you able to sell your algos for money to retail? Probably most of you are not. Then why are you not sharing your code with the rest of the group? Even if 5000 of us would use your exact same algo, it’s not like we’re going to simultaneously pump and dump any stocks. Rather than hoarding your algo, it might be worthwhile just sharing your code so others can really learn, and some may even be able to offer concrete suggestions to improve it. I haven’t written an automated algo myself yet, but did share a stock screener I wrote last month after being a few weeks into Python: https://www.reddit.com/r/learnpython/comments/hnf51x/rate_my_stock_screener/?utm_source=share&amp;utm_medium=ios_app&amp;utm_name=iossmf. Some of the comments will really help me out in writing a new version of the code, plus I might have helped some new coders on their way. You should try it some time! + +**Edit 1**: Some of you are arguing that you would not share something you’ve worked hard on yourself. Well, imagine all Python API builders thinking the way you think. The community would’ve been absolutely nowhere with that mindset. If you think you’re really solving a unique problem, then I get it. But probably 99% of what people are hoarding right now isn’t going to be nearly as groundbreaking as they think it will be. + +**Edit 2**: Apart from the typical boomer comments like muh millenium entitlement muh algo communism, there were some very useful inputs in the comment section. A big thanks to [penetrativeLearning](https://www.reddit.com/r/algotrading/comments/huunrh/whys_everyone_hoarding_their_algos/fypebd8/), [po-handz](https://www.reddit.com/r/algotrading/comments/huunrh/whys_everyone_hoarding_their_algos/fypeaye/), [captainbisquick](https://www.reddit.com/r/algotrading/comments/huunrh/whys_everyone_hoarding_their_algos/fyur1md/), and [sommi](https://www.reddit.com/r/algotrading/comments/huunrh/whys_everyone_hoarding_their_algos/fyptrnt/) (4th paragraph only) for sharing some wisdom. +*On a throwaway because I don’t want my annual salary/personal information associated with my personal reddit account* + +I got into IT at 16 and joined the Air Force reserves at 18, under the top IT “job.” So I have a total of 5 years of experience, which has allowed me to earn a job on civilian side, with an annual salary of $90,000. On top of AF Reserves (part time), IT (full time), I am a server at a high end restaurant, working nights, where I make roughly $2,000/month (part time). Which sums up my salary to roughly, $120,000/yr. + +I have a $20,000, 6 month emergency fund, a Roth IRA, TSP, 401k, and a normal saving account with about $30,000 in it. My current credit score is 760. + +So my question is what should I do next? My parents want me to buy property but it feels very rushed. I’m currently renting for $1,500/month and my lease ends very soon. I don’t necessarily want to have a mortgage at 21 but I don’t want to rent and practically pay a mortgage. + +Any advice is welcome, thank you folks. + +Edit: Forgot to mention that I am single. Also, I have about $50,000 in blockchain investments that i’m willing to sell off if the opportunity is right. +When I first embarked on my investing journey I joined ausfinance to try to get some ideas as to how I could make money. + +Turns out they don't know anything except for Vanguard, how is anyone supposed to make money from Vanguard? + +So I ventured out into the wilderness of ASX_Bets and found our Messiah Melvin Butters spreading the word of our Lord and saviour BRN. + +Since that day my portfolio has seen nothing but green and i couldn't be happier. + +Thank you Melvin and the ASX_Bets community from saving me from eternal damnation +Sources: + +https://en.m.wikipedia.org/wiki/Government_spending_in_the_United_States + +https://www.ukpublicspending.co.uk/government_spending.html?show=n +This is kind of part 3 of what's been happening so here are some links to the first 2 posts as well as a link to the original post on WSB about this story: + +Original post - +[My broker (Questrade) wants me to sign an NDA saying I won't talk shit about them after offering me $1200 USD as compensation for losing $50000 from outages](https://www.reddit.com/r/wallstreetbets/comments/frz0fp/my_broker_questrade_wants_me_to_sign_an_nda/) + +Post #2 - [Questrade Legal Contacted me](https://www.reddit.com/r/wallstreetbets/comments/fsnubq/contacted_by_questrade_legal_team_for_permission/) + +Post #3 (Original post on WSB)- [Got a call from police regarding "threats" to Questrade last night... I was read some of the posts you guys made on their sub](https://www.reddit.com/r/wallstreetbets/comments/ft80y4/got_a_call_from_police_regarding_threats_to/) + + +So in the original email where they mention legal action they accused me of threats, extortion and defamation. + +>"We ask that you remove these posts immediately and you cease to use social media to post defamatory and misleading statements about Questrade in an attempt to extort funds from the company. If you do not remove these posts, you are put on notice that this will become a legal matter. Our legal department are already investigating two prior posts you made where you stated that you were ready to "burn down the building" as well as making the following statement: “ if I can’t get my money back I’ll be sure they lose an equal amount in whatever way I can.''" + +Obviously the quotes in the email don't provide full context but the cops understood that and read it back to me. + +Paraphrasing here but this is the comment regarding burning down the building: + +>What is going on with Questrade support? This is such a joke. It pretty much feels like all they're saying is "too bad so sad" and "fuck you". Honestly getting tired with this.. I feel like I'm going crazy... getting ready to burn down the building. What a joke + +So obviously I was saying it as a figure of speech in a time of frustration and not serious in anyway regarding it but regardless Questrade took it to the police. + +The other comment about "if I can't get my money back I'll be sure they lose an equal amount in whatever way I can" was meant as in them losing potential/current client's commissions. Obviously I didn't mean any harm which I clarified in my reply to the original email. + +Basically the police cautioned me and said they don't think I was serious. + +The call I got was around 1:30am EST and I asked if they usually call this late and the officer said that they were just getting to it cause they had more pressing matters (assuming COVID19). + +Just a waste of police resources in general if you ask me. Especially during this time. Like the guy from the TradeDesk said to me in an email... + +>"To keep things in perspective, the world is reeling from a tragic situation. Thousands of people have lost their lives. Our staff have been working around the clock to help our clients get through this unprecedented crisis. In response to our genuine attempts to find an amicable solution, you have threatened and insulted our staff. I urge you to think about your actions." + +I would urge Questrade to think about their actions. + +The officer also asked me if I was the one writing posts about "Questrade killing someone's wife"(?) and I think something about Hitler but I was able to clarify that it wasn't me writing those posts and it was other people who were likely upset. + +Just find it pretty ridiculous that police had to waste their time going through screenshots sent by Questrade of their sub... + +Not sure why they would waste the police's time with this but it ultimately resulted in nothing. It was, in my opinion, obvious that those comments were both said out of frustration and I removed them (along with all comments) at the request of a Questrade employee as well anyway. + + +I think what people should take away from this though is how poorly Questrade is treating its clients. If I were to phone them and be upset I don't want to be scared of potentially having a criminal charge brought forward on me because they took something I said out of frustration seriously and involved the police. Honestly think their handling of this matter has been incredibly unprofessional throughout. Upsetting to think this was a company I used to admire and recommend to countless people. + +Even just a few days before all this happened I was recommending them to friends - https://imgur.com/a/DHVOHhE + +It's amazing to me how poorly they've handled all this and how in less than 3 weeks my opinion of them has done a complete 180. + +What a joke. + + +I'm sure you guys worked this out for yourselves but just want to point out how it's weirdly convenient that they saw the "threats" last week but the police only contacted me after I refused to take down my posts about them... (15 hours after the deadline Questrade gave me to take down the posts) + +Proof I was contacted by police since some people think I am lying about it- https://imgur.com/a/rVU3KfR + +________________________________________________ + +Guys if you want to help get the word out and potentially save other Canadians from signing up with this nightmare of a broker **please tweet this thread at Questrade or Business Insider or marketwatch or bloomberg or anyone else that can write about it.** I don't have an active twitter account so can't really do it myself but would appreciate it immensely. + + +I think it's important for Canadians to know that they could potentially get contacted by the police if they say something to their broker out of frustration or anger. + +People should know what kind of company they are dealing with. + +You can also email the News Tips email on sites with links to these threads if you want. + + +Thanks guys. + +edit: + +To contact cbc: + +https://www.cbc.ca/mediacentre/contact + +and + +gopublic@cbc.ca + +______________________________ + +Edit 2: To those saying I'm in the wrong. I can agree that I shouldn't have said some things but what I want to point out is this + +I understand that but if they were worried about the threat why did they wait until after my second round of postings to bring it up? + +Why wasn't I contacted by police sooner regarding it. + +How is it that police only contacted me about 15 hours after the deadline they gave me to take down my posts had passed? + +If there was a concern of safety they had screenshots of the posts Thursday March 26 at 5:53 pm EST at the latest. + +How is it police only contacted me April 1st at 1:16AM EST? + +13 hours and 16 minutes after the deadline had passed. + +Police also had screenshots of posts made on Mar 30 and Mar 31. + +Obviously I can't know but it seems like they only went to the police after I refused to take down the posts. + +Here's a more clear timeline: + +Step 1 - lose money + +Step 2 - post about it on /r/Questrade (and only /r/Questrade) on every single post and warn people + +Step 3 - mod on /r/Questrade asks for my number + +Step 4 - TradeDeskGuy calls me to talk to me + +Step 5 - TradeDeskGuy says he's gonna see what kind of compensation he can get me + +Step 6 - TradeDeskGuy asks me to remove my posts while he is "going to bat for me" (no joke he really said that) + +>While I review your complaint below can you do me a solid and remove repetitive posts on wherever you posted online. You can keep your original complaint if you wish. Your entitled to vent your frustration but there are limits to that. We have thousands upon thousands of happy clients which you were probably one of prior to the outages and you spamming the boards is giving your bias. It is not a fair representation of Questrade nor does it help when I go to bat for you. + +>I was told you already apologized to those responsible for responding to social posts so I thank you for that. + +>Thanks + +Step 7 - I comply and delete even my original complaint + +Step 8 - Receive 1200USD offer + +Step 9 - Decline offer and post about what happened everywhere I can think of + +Step 10 - Get asked to remove my posts again (by TradeDeskGuy): + +>I have just been notified that you have posted information from our private discussions on Reddit. These discussions were confidential and constituted good faith attempt to resolve your complaint. Your Reddit posts are inaccurate, misleading and contain defamatory content. As we discussed, you incurred a loss as a result of trading in high risk options, which you failed to mention in your posts. + +>We ask that you remove these posts immediately and you cease to use social media to post defamatory and misleading statements about Questrade in an attempt to extort funds from the company. If you do not remove these posts, you are put on notice that this will become a legal matter. Our legal department are already investigating two prior posts you made where you stated that you were ready to "burn down the building" as well as making the following statement: “ if I can’t get my money back I’ll be sure they lose an equal amount in whatever way I can.'' + +>If we do not receive your confirmation by 12pm on March 31, 2020, that you will discontinue posting defamatory content on social media, you will leave us no choice than to commence legal action. + +>To keep things in perspective, the world is reeling from a tragic situation. Thousands of people have lost their lives. Our staff have been working around the clock to help our clients get through this unprecedented crisis. In response to our genuine attempts to find an amicable solution, you have threatened and insulted our staff. I urge you to think about your actions. + +Step 11 - I don't + +Step 12 - Mar 31 12pm passes + +Step 13 - 13.5 hours later I get a call from the police regarding the "threats" that I had deleted in Step 7 + +I think Step was the wrong word to use in all this but does that clear up the timeline for you? +[Original Post from two years ago](https://www.reddit.com/r/fatFIRE/comments/bukk9z/sharing_my_re_experience_currently_at_4_months/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) + +I was fatFIREd two years ago. The writing was on the wall and I knew I would be laid off at some point, I just didn’t know when. Over the past two years, with some of my free time, I took up a competitive sport. This weekend I finally achieved a goal that I had been trying in this sport for 8 years. It reminded me how far I had gone since my original post, and I figure I would provide an update. + +1). I thought I would have a lot of time without a full time job. I ended up buying / running businesses in three different categories and run them as owner. I also started a non profit. And I went deep into two competitive sports, one in the winter and one in the summer. At one point it felt busier than when I was working full time. So eventually I hired managers for my businesses and just manage the mangers so I become an absentee owner. Less profit, but I bought my time back. + +2). My wife and I had been W2 earners almost our entire lives until I fatFIREd two years ago. Since then I’ve learned about tax breaks and deductions available to businesses, mostly from depreciation and tax credits. It’s eye opening and refreshing which helped with continued growth in our NW. + +3). One of my biggest regrets with my older kids was that I had almost zero recollection of their infant years because I was working so hard. Over the past two years I got to spend a ton of time with my youngest son. There was a sense of redemption and making up for lost time / memory. I was really really happy about that. + +4). In the original post I shared my mental health issues due to the stressful job. I was already back in decent shape when I was fatFIREd two years ago. Now I’d say I am mostly in a state of bliss. + +5). My wife still works a corporate job. Two years ago when I no longer had a corporate job, I did the math considered both going FIRE. I told my wife to share this with her boss. She was immediately promoted and then promoted again this year. + +6). Sometimes I do feel a lack of purpose, especially after I hired mangers and I basically fired myself from the day to day operations. When I did that I wanted to buy my time back, and now I sometimes feel I have too much time. But with covid I really don’t want to reduce their hours, not when I don’t really need the money but they need the job. After my youngest son enter kindergarten, I’ve considered working again for established non profits to advance causes that I care about. But then I look their pay, look at our marginal tax rate of over 50%, look at how much I am paying my managers in order for me to have time to do this job, and our daily portfolio swings, and ask what’s the point. I haven’t quite figured this one out yet. + +7). I’ve gotten really good at fixing things around the house and I’ve accumulated a great collection of tools. The other day I installed a level 2 EV charging station by myself. + +8). I am totally refreshed on geometry and soon algebra 2 to help my oldest son. It’s going to get more difficult when I have to relearn calculus. + +9). I started drinking wine almost every night and gained some covid weight... + +EDIT: I haven’t visited this forum for a while and I just sorted by best. I am proud to say that these days I usually make breakfast for my wife and kids lol. 20 years in financial services in the west coast, my biological clock wakes me up at 6. +Trying to add some levity instead of the usual “please help me with XYZ problem as I am trying to make money.” + +Background: Liquid NW about 15.5M. Invested 100% in broad market funds. Still working medium stress jobs that we like bringing in about 900k HHI. Keeps us occupied. No kids. + +Relevance to FatFIRE: soliciting people’s funny experiences with stealth wealth. Might come across as self congratulatory, sorry. + +I used to love nice German cars, nice restaurants, travel, but since COVID a lot of that has gotten reset and I realized I didn’t mind not having as many expensive things. In fact, it has been strangely freeing. I ditched my AMG roadster last month and haven’t looked back. + +I am liking the whole stealth thing, but there can be some awkward interactions. Was at the dentist today and had to get a crown replaced, but have already used most of my dental insurance this year on frequent cleanings (which I like). New benefits person working there and they were concerned and were explaining to me various payment plans and options available and I was staring at them like they were a crazy person. I saw the bill ($1300) and I am wondering why were we talking for 5 minutes about this, she should’ve just said what the amount is up front and we would have saved time. I looked at my shoes and clothes and then I got it. Old ratty crap. I also felt embarrassed of thinking this way because I realized for a lot of people this is real money. Our primary residence is on the water and worth 4.5M in today’s market so I’m not actively trying to be frugal. + +I have a friend who is higher NW who likes going into car dealerships dressed in casual clothes (read: like a bum) to see how they will treat him. That’s weird to me, maybe he gets off on that but I can see how it is entertaining. + +Am I just an abnormal tightwad or getting old and jaded on nice things? Or is it COVID and we have fewer wants now in this weird world and gotten used to it? Y’all feeling similar? Or have I strayed from or don’t belong to the FatFIRE way anymore? + +What experiences have people who live comfortably here have had when not flashing wealth that made you think “that was weird” or “that was funny”? +I hear this all the time. Take bigger risks when you are young. When you are in your 20’s its fine to go heavy in high risk/high reward stocks. But this is flawed reasoning. + +The truth is taking big risks when you are young is more risky because of opportunity costs. People always mention compounding interest over decades. But fail to apply this to investing in risky stocks when you are young. + +Lets say you are 20 years old and you have $10k to invest. Its common to hear people say you can be more risky since you are so young. And even if you do YOLO and lose it all you can easily recover. But think opportunity cost. What did you really lose doing a YOLO? + +$10,000 + +Invest in an index fund that returns 8.5% annualized return + +Withdraw at 65 years old + +That $10k becomes $400k. So you basically lost $400k because you YOLOed on a risky stock. + +If you hold till 70 you lost $600k. + +At age 90 you can give your children and grandchildren $3.2 million. Or you could have fun and lose it all on a risky stock. + +Bottom line is a young persons greatest asset is TIME. Throwing investment time away by taking unnecessary risk is a massive mistake. + +I’m not saying don’t buy stocks that are risky hyper growth companies. But also don’t gamble needlessly. Because you are gambling much more than that couple hundred or thousand you see next to the stock ticker. +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! + +30s M married with no kids (yet). ~5m NW and >1m annual income in UHCOL area. Worked hard and got lucky to get to where I am now, and have all the trimmings of a good life (nice house, cars, clothes, no money stress). Life isn’t perfect: work is stressful and even all the $ in the world cannot buy perfect health for me and my family. But generally things are pretty good and It’s important not to lose perspective on just how lucky I am to be in this position. + +Yet my problem with fatFIRE is the waiting for years of savings and compounding to get me to my fire target (~25m). Sometimes it feels like the movie Click where I just want to hit fast forward 10-15 years to get the destination where I’ll feel like I truly have control over my life without money dictating where I live and how I spend 10+ hours a day. But I also know don’t want my life (especially what should be some of my best years) to pass me by. + +High class problems to have, but it’s been tough to buy in to fatFIRE and deal with the work grind and save a lot while also living for the moment and being present. Curious how others have dealt with this. +From what I understand, working conditions such as work-life balance will be better for labor in a labor market where the supply of labor is low compared to the demand for labor. Meaning they are in-demand. Therefore you see better work conditions for engineers and IT people who have a higher skillset. + +Doctors and nurses clearly have a very high skillset. There is a large barrier to entry: you need to study for years and years and you need to have a very high talent in order to become a doctor or nurse. Not many people can become one. The occupation is held in high regard in society as well. There is a shortage of doctors and nurses all over the world and therefore you see these occupations in the immigration list. + +So why do they have such a horrible work-life balance and work-life conditions? Shouldn't market forces mean that they would be able to bargain for and get the best work-life balance out of all the occupations there is in an economy? +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! + +So I just got a call from the "IRS Crime" division regarding tax fraud from 3 random years. They said I owed nearly $4,000 and that I better not hang up the phone or the police would knock on my door within 30 minutes with a warrant for my arrest. They said if I hung up the phone, it would flag their system as me being unwilling to cooperate and legal action, including my arrest, would be put in motion.. + +Total scam.. right? + +EDIT: so this blew the fuck up!! + +I firstly want to thank everyone for taking the time to respond. We're just a small sample size of the world and so many of us have knowledge and experience (some good, some not so good) about these scams. You guys have reached out to more people than you could possibly know. + +Secondly, let's be vigilant out there. These scams affect the elderly and vulnerable and we need to take care of our own. + +Lastly, fuck these shady bastards and their vulturous ways. + + +Hi everyone, + +I invested $2000 when ETH was around $35 a share and I sold it all at $352. I'm now out of the game. + +While I do believe in ETH long-term, being in debt I stupidly had way more invested than I could comfortably lose. Everyday I stressed over the numbers - the last correction for example was horrifying, though I didn't let fear at the time get to me. + +I was able to pay off all my credit card and student loan debt, and I still have a few thousand leftover to put in savings for an emergency fund. + +I no longer owe anything to anyone and I love the peace of mind with that. And finally I won't be checking Coinbase 50 times a day. + +I will probably regret selling as ETH continues to climb, but I know the regret will never compare to the pain I could have felt if I lost everything. + +Just wanted to share. Best of luck everyone. +Currently people have more money in the bank due to less money going out. People are bored, stuck in front of their computers and stocks only ever go up, right?... + +Ah, we can go outside again. Let's go on holiday, the pub, buy a new car to go to places...etc +Mark was early, too early. Meta should have remained an internal project + + +Instead, he took a risk and took the company in the new direction with the greatest deal of publicity. Changing their ticker, name, mission. All on display for the world to see, as if to say, look at me, look at us, place your eyes on our newfound identity. + + +It's very fitting, for the de facto social media industry leader to take this approach. Very fitting, for a once young and innovative Mark Zuckerberg to want to matter again, after years of declining market share and increased competition. + + +The issue is one that is shared among the modern investing world. One driven by jargon and VC capital endlessly pouring into the "next big thing". One where appearance matters much more than actual substance. You might even say this is reflective of society at large, perhaps even one where Zuckerberg helped mold. The issue lies in the fact that we live in a world where simply changing your name to include a buzzy new catchword such as crypto, NFT, or Metaverse can increase your company's valuation multiple times without changing much else. + + +But for how long? Eventually when the music stops and the madness of discretionless investing is over, when the cost of capital has tripled, quadrupled, will your firm truly stand the test of valuation? Time to get back down to brass tacks. +Blue Ocean strategy is a strategy that generates high growth and profits through the creation of new demand in an uncontested market space, rather than competing with other companies for customers in the same space. + +The blockchain is this blue ocean and Elements Estates is the strategy. The platform is bringing an unparalleled and uncontested investment opportunity for distressed assets in the SEE region. With the ELES tokens you will be able to participate in the purchasing of a property in the SEE region, which normally only was accessible for big investors. These properties are curated and managed by a world-class team of professionals who have been involved in some of the biggest real estate deals in the region. + ESO Ecosystem is as follows: + +1. ESO Pay +ESO Pay works like Paypal, Fasapay, which can collaborate with various merchants such as Forex, SMEs, Online Business, etc. + +2. ESO Cash +ESO cash works like EVO or digital currency as a means of paying parking, Hospitals, Online Rider Service, Online Stores, etc. + +3. ESO Shop +Serves as a Digital UKM which will advance the home industry going national and international with the help of a professional ESO team. + +4. ESO Network +ESO Network is a holding company engaged in Network Marketing with premium quality products in the contents of people who are experienced in the network world with a proven marketing plan. + +5. ESO Finance +Holding this one is a definition that handles acquisition, financing and franchising. Eso finance works as an Acquisition is to buy a majority or as an owner of a business entity whether it is experiencing a financial crisis or not. Funding or financing works to provide financial assistance to a business based on the draft proposal offered to ESO management, and the command will review and review the feasibility. Franchising is collaborating with merchants who want to expand their business to various cities or regions. + +6. ESO Exchange +As a means of instant exchange for both cryptocurrency, Virtual Currency and Equity Forex. The way it works is not a place for trading but as a means of buying and selling BTC, ETH, Stellar, Doge and other cryptocurrencies, Fasapay, Perfect Money, Skrill, Neteller, Paypal and also a mechanism of forex withdrawal equity. +Blue Ocean strategy is a strategy that generates high growth and profits through the creation of new demand in an uncontested market space, rather than competing with other companies for customers in the same space. + +The blockchain is this blue ocean and Elements Estates is the strategy. The platform is bringing an unparalleled and uncontested investment opportunity for distressed assets in the SEE region. With the ELES tokens you will be able to participate in the purchasing of a property in the SEE region, which normally only was accessible for big investors. These properties are curated and managed by a world-class team of professionals who have been involved in some of the biggest real estate deals in the region. +Blue Ocean strategy is a strategy that generates high growth and profits through the creation of new demand in an uncontested market space, rather than competing with other companies for customers in the same space. + +The blockchain is this blue ocean and Elements Estates is the strategy. The platform is bringing an unparalleled and uncontested investment opportunity for distressed assets in the SEE region. With the ELES tokens you will be able to participate in the purchasing of a property in the SEE region, which normally only was accessible for big investors. These properties are curated and managed by a world-class team of professionals who have been involved in some of the biggest real estate deals in the region. +If you came from absolutely nothing, were you ever envious of the ultra wealthy peers born with a silver spoon, whereas you were slogging to build your career/wealth? + +While I'm on the right track, sometimes it's easy to whine when I see people born into wealth not having to worry about anything. On the other hand, I have to build every single thing with nobody who can guide me. + +Edit: Referring to jealousy of people who didn't have to work for their wealth and inherited. +Hey friends. I graduated nursing school right when COVID started last year. I went straight to work in a COVID ICU, and I’ve worked almost every day for 10 months (seriously I only take 1-2 days off each month). This ridiculous amount of overtime has helped me save up a ton. I’ve been very frugal- I live in an old apartment and drive an old beater truck. My goal has been to save up $120,000 to buy a house with cash, but I don’t think I’ll make that goal for another 10 months. I’ve been broke my whole life. What should I do with all of this money? +Sources: + +https://en.m.wikipedia.org/wiki/Government_spending_in_the_United_States + +https://www.ukpublicspending.co.uk/government_spending.html?show=n +# 0. Preface + +I am not a financial advisor and I am not providing you financial advice. + +I know that many, MANY people have looked into swaps, equity swaps, total return swaps, and so forth over the months. There's quite a few DDs on the matter! I either never saw the posts or did not dig into them until lately. So please know that the Equity Total Return Swap stuff is **not** my original theory. I've just tried to expand on it to fit the pieces together. The price movements, the Deep OTM PUTs (DOOMPs), ITM CALLs, and where Short Interest went. Which I'll discuss here. + +I'm stealing this image from u/Chucry. Really sorry - I love the picture too much. + +[ \/u\/Chucry pup](https://preview.redd.it/nztuwxstzej71.png?width=1596&format=png&auto=webp&s=6c036251c00072a7400a7cd4ceaecfd1d65d0c22) + +[https://www.reddit.com/r/Superstonk/comments/p5rxo0/exclusive\_footage\_of\_ucriand/](https://www.reddit.com/r/Superstonk/comments/p5rxo0/exclusive_footage_of_ucriand/) + +# 1. Equity Total Return Swaps - Hidden Short Interest + +[/u/quiquealfa](https://www.reddit.com/u/quiquealfa/) described their theory about Equity Swaps being the main culprit in the meme stock price movements to me. So we started digging into the theory. + +I was googling in a chain about Credit Default Swaps that led me to Equity Default Swaps which led me to 'Synthetic Prime Brokerages' which then led to Total Return Swaps, which finally led me to this post: + +[https://www.reddit.com/r/Superstonk/comments/ojh2eh/ultimate\_wargame\_theory\_the\_beginning\_total/](https://www.reddit.com/r/Superstonk/comments/ojh2eh/ultimate_wargame_theory_the_beginning_total/) + +Which I think is so amazing. It discusses Total Return Swaps and all of the players who may be involved in this "meme stock" situation. As u/Blanderson_Snooper calls them - the "Voltron Fund". This isn't just Melvin Capital and a few other SHFs being short. It's likely to be a massive amount of SHFs and SFOs around the world that abused naked shorting on a basket of stocks, putting not just the SHFs and SFOs at risk but the market makers and banks at risk as well. + +Basically, they're all fucked if these stocks squeeze. The SHFs. The SFOs. The Market Makers. The Banks. All of them involved. + +[ https:\/\/www.investopedia.com\/terms\/t\/totalreturnswap.asp](https://preview.redd.it/0q8bjzzvzej71.png?width=768&format=png&auto=webp&s=cd83ff1f210cb56545f1393fde8e0d109c2fe96f) + +The thing with Equity Total Return Swaps is that it's a type of derivative that, essentially, allows naked shorting. It's not an uncommon derivative either - it's a very popular instrument used by Hedge Funds which has blown up in popularity over the past decade. + +There's actually a term for this type of exposure. And it'll probably piss you off. It's called a "synthetic prime brokerage" because of how you're borrowing the prime broker's benefits. + +[ https:\/\/www.hedgeweek.com\/2005\/09\/08\/equity-swaps-alternative-trading-equities](https://preview.redd.it/fry8cqhxzej71.png?width=856&format=png&auto=webp&s=95041fc94556d1ae86d6dffcddc8f2b5cc6bbe0c) + +The way that it allows naked shorting is because the Hedge Fund "borrows" prime brokerage privileges through the swap. **The Hedge Fund is not short on its balance sheet but they are effectively short through the exposure of the derivative**. The counterparty of the swap is the one who is short the underlying. But, because the broker dealer can short for the sake of liquidity, **they do not need to report short interest on the stock by internalizing the orders and selling against their own "inventory".** + +Reg Sho must have pissed them off how they couldn't "legally" naked short - so they went off and created a new derivative so the game could continue on. + +The Hedge Funds can enter into many of these swaps and get short exposure to the stock without directly shorting it. They can enter into **tons** of these swaps and create tons of synthetic shares without ever worrying about the short interest being reported. + +Sneak attack! Any stock could have an actual SI% which is well over 100% and it isn't even reported! + +This doesn't come without risk however. The liability of locating the share for the short position is now on the counterparty rather than the Hedge Fund. + +But if you know of a few stocks which retail doesn't care about and are bankruptcy jackpots, you can abuse the hell out of the Equity Total Return Swaps. Churning away that synthetic share machine. + +Unless of course, one stock (GME) gets overexposed with **reported** SI and causes a short squeeze play where retail and institutions pile into the stock. + +What happens from the start: + +1. The Hedge Fund opens a Equity Total Return Swap with a counterparty. +2. The counterparty is the one with the short position on their balance sheet. SI is not reported due to broker dealer privileges. +3. The Hedge Fund gets returns if the stock goes down. +4. The Hedge Fund will go under if the stock shoots up in price too much. They're not short on their balance sheet but they are short the swap. +5. If the Counterparty did not hedge the position, the counterparty is on the hook to buy up shares that were shorted. +6. If Equity Total Return Swaps were abused to add too many synthetics to the share pool, and a short squeeze play occurs, the counterparty is **absolutely** fucked. + +# 2. Portfolio Swaps and "Meme" Stocks + +Something fun you can do beyond an Equity Total Return Swap is something called a "Portfolio Swap". Which is basically a basket of Equity Total Return Swaps. Read the below and think of how all the "meme stocks" move in tandem: + +[ https:\/\/www.investment-and-finance.net\/derivatives\/p\/portfolio-swap](https://preview.redd.it/ts1rr5kzzej71.png?width=1014&format=png&auto=webp&s=a2cbe08d27fb53604bd3cc832154333febd5b97b) + +There's a basket of "meme" stocks that move in tandem, signaling that some counterparty (or counterparties) are on the hook for a ton of swaps and that these "meme" stocks are most likely shorted as a basket through Equity Total Return Swaps. + +Here's a sample of just a few stocks and how their prices are quite related. GME, AMC, KOSS, BBBY, EXPR: + +[ GME, AMC, KOSS, BBBY, EXPR](https://preview.redd.it/342a50w00fj71.png?width=2428&format=png&auto=webp&s=bfb7ecef36fd6e7a6131279ba0ea3973ec764a5c) + +The prevailing theory is there's a massive amount of Portfolio Swaps against these meme stocks, where so many entities can be pulled under if these squeezes occur. + +Hmm. + +Why is BoA closing locations and why are they lit up like a Christmas tree every night? + +Why are other banks and Citadel doing those night shifts all the time? + +Because if they are on the other end of these swap trades which were abused to create short squeeze plays across the market, then they are **screwed**. + +Which means many meme stocks can be decent squeeze plays. Because if the SHFs go down (and consequently the counterparties of the swap trades), then they liquidate all positions and buy back the short positions on these stocks. Many stocks can have massive short interest that is hidden through the swap derivatives. + +But in my opinion, **GameStop is the backbone to it all** because it had an alleged reported SI% of 226% in January. Note that the 226% was **reported** SI. **The shorts from the swaps are unreported.** + +GameStop had a massive reported SI. So it was, and is, the most overexposed short position of the SHFs. Melvin and other SHFs got cocky and shorted the stock directly rather than entering into swaps because it's a more profitable bet. They exposed themselves to the world - significantly - and here we are. + +Rest In Peace, Dumbass(es). + +That all being said, the swaps are just one part of the picture. The stocks are being shorted and have been shorted through 'synthetic prime broker' derivatives. + +**WHAT** is driving the price spikes every quarter? That's how I dove into futures. Because having an understanding of **why** the prices move every quarter and fitting the price movements with swaps gives you complete Zen mode. You can go out and enjoy life instead of watching the ticker 24/7 knowing that all the puzzle pieces fit together. + +# 3. Future Roll Dates; Loss Of Hedging The Swaps Causes Quarterly Squeezes + +I made a post about futures roll dates because they oddly lined up with the price surges: + +[https://www.reddit.com/r/Superstonk/comments/p37osl/are\_futures\_or\_swaps\_the\_secret\_sauce\_to\_price/](https://www.reddit.com/r/Superstonk/comments/p37osl/are_futures_or_swaps_the_secret_sauce_to_price/) + +With futures Roll date deadlines of: + +|Futures Expiration Date|Deadline of Futures Rolling| +|:-|:-| +|March 19th|March 11th| +|June 18th|June 10th| +|September 17th|September 9th| +|December 17th|December 9th| + +These deadlines I'd refer to as the end of "volatility" because all futures must be rolled by this date. Once the roll period ends, the quarterly squeezes end. + +The settlements of the swaps is also around these quarterly dates. So, there's a wombo combo around the "Quad Witching Days" of March 19th, June 18th, September 17th, and December 17th. This wombo combo of the futures roll period and swap settlement forces them to hedge their swaps by buying the underlying stocks. + +Because the counterparties don't want to buy-in the shares to hedge their position for the Equity Total Return Swaps, the counterparties instead hedge the swaps with other derivatives. + +And from the following, they could be using futures (maybe even forwards) to hedge risk against these swaps: + +[https://www.clarusft.com/the-imm-roll-for-swaps-what-is-it-and-what-are-the-volumes/](https://www.clarusft.com/the-imm-roll-for-swaps-what-is-it-and-what-are-the-volumes/) + +These futures can't protect them year-round, because the future/forward contracts **require** the underlying asset to be bought or sold unlike options if they go to expiration. + +To avoid the forced purchase/sell of the underlying asset, futures can be settled for cash or rolled forward to a later expiration date before a specific deadline date called the "Roll Date". + +In the case of settling the futures, they are settled prior to the "First Notice Day". The "First Notice Day" is the third business day prior to the start of the month that the contract expires in. They settle **before this date** to avoid physical settlement. Which gives: + +|Futures Expiration Date|Dates Futures Are Settled (On or before this day)| +|:-|:-| +|March 19th|February 23rd| +|June 18th|May 25th| +|September 17th|August 26th| +|December 17th|November 24th| + +But once they settle the futures, it leaves their swaps exposed to the volatility of the upcoming futures expirations and during the roll period until the deadlines of March 11th, June 10th, September 9th, December 9th. Their hedge against the swaps is practically gone, and they are forced to start buying-in the stocks to go delta neutral: + +>... (3) In effect, **the cash-settlement of the first future removes all risk of this contract, and traders are left with the risk from the underlying swaps that were hedged by this expiring contract.**...Of most importance during this process is managing the effect of (3). This is the so-called “Stub” position that a trader is running – a position that is almost unhedgeable and certainly very difficult to manage. **This is because all liquidity is concentrated in the first futures contract – such that hedging any risk that settles before the expiry of this front contract is virtually impossible.** + +This ends up creating the following time periods where the counterparties must hedge by buying the underlying stock and driving gamma squeezes across the meme stocks: + +|Squeeze Start (First Notice Day)|Squeeze End (Futures Roll Date Deadline)| +|:-|:-| +|February 23rd|March 11th| +|May 25th|June 10th| +|August 26th|September 9th| +|November 24th|December 9th| + +They're not only putting the SHFs at risk by driving the prices, but putting **themselves** at risk because if the SHFs go under then they have to buy up the short positions anyway due to being the bagholders. Which then brings the entire set of dominoes down. + +Trading is a tough game . Don't you think? + +**HUGE Note:** The cycles are getting more violent each time. This cycle **could be** the MOASS. And with everything lining up for September being a crackdown of margin requirements + a possible market crash, you may lose **big time** if you try to day trade. Not to mention selling shares hurts the squeeze plays. + +**Other Note:** The cycles don't necessarily have to start on these dates. The futures can be settled at any date prior to the "First Notice Day", causing a loss of hedging against the swaps at an earlier date. Today's run could have been for an entirely different reason such as T+2 settlement from August monthlies. But in my opinion, I'd say this run is due to the lack of hedging because they have fewer DOOMPs to hedge with. I'll discuss the DOOMPs later on. + +Gamma Neutral spikes during these squeeze events, as provided by /u/yelyah2 or as I say "hell yah 2". The first ape who ever helped me out when I started researching. She inspired me from the get-go. + +Stealing a chart from /u/yelyah2, "Gamma Neutral" has spiked above $10,000 in the previous March and June runs, signaling that indeed a hedging problem occurs to drive the price runs: + +[ https:\/\/www.reddit.com\/r\/Superstonk\/comments\/pasn91\/190\_maximum\_gme\_gamma\_point\/](https://preview.redd.it/cmfw8ud30fj71.png?width=1135&format=png&auto=webp&s=7e4864c268bb17b8c3e042e4266158ae4eff7dd8) + +From /u/yelyah2's post explaining the spike of Gamma Neutral: + +>Gamma Neutral (GN) and Gamma Maximum (GM) - This helps identify **momentum. The GN** represents the underlying price that would create a total market gamma of 0 across all GME options (all expiration dates) for a given date, whereas the GM represents the underlying price that would create the maximum gamma across the market. +> +>In general, a sudden increase in gamma indicates a sharp upward in momentum that continues until that gamma drops. +> +>The GM seems to act like a ceiling, but fun things happen when the underlying crossing that threshold! + +And right now, gamma girl is seeing evidence of their bullish signals flashing for another quarterly price run - lining up with the futures roll period and the quarterly patterns as identified by other apes such as /u/pwnwtfbbq and /u/Minimal_Effort_73. + +I know many other apes have identified the quarterly runs as well. I'm very sorry if I did not mention you. The two apes above are the main posts I have been tagged in, so I know them off the top of my head! It's so difficult to remember all of the posts over the past few months. + +Putting it all together based on the futures roll period and loss of hedging against the swaps results in the following chart. The green shaded area is not arbitrary. It is the period between the "First Notice Day" and the "Futures Rollover Deadline". It's scary how closely it lines up. And kablam - just as expected - it's getting ready to rocket off: + +[ Quarterly Price Movements And ETRSs](https://preview.redd.it/dljirbi50fj71.png?width=2435&format=png&auto=webp&s=0bc7787ac68fac52d80ec34a12d73edd69bee41a) + +# 4. ITM CALLs; SI% Dropped From 226% In January - Where'd It Go? + +Bringing up these charts from /u/broccaaa that you've probably seen a million times now, an anomaly of ITM CALLs appeared in great numbers in January, February, and March: + +[ \/u\/broccaaa Suspicious ITM CALLs](https://preview.redd.it/fsi8lxw60fj71.png?width=1712&format=png&auto=webp&s=deb2b5b7991073a473a72981378ae95cc598a830) + +These ITM CALLs were bought and immediately exercised. Their OI never appeared on options data which leads us to conclude that they were exercised on the same day. Doing this transfers shares to the exerciser since the options are fully hedged against. + +The ITM CALLs were paired with an absolute ungodly amount of DOOMPs (Deep Out Of The Money PUTs), roughly 110 million shares worth, that have been untouched and allowed to expire worthless: + +[ \/u\/broccaaa GME Option Open Interest; PUTs and CALLs](https://preview.redd.it/blyxvbf80fj71.png?width=1716&format=png&auto=webp&s=42ccdec9a915e004e83d845a8a342c0ff32ad204) + +From [my post over here](https://www.reddit.com/r/Superstonk/comments/oc4f79/well_there_it_is_more_mathevidence_pointing_to/) I did some math and came up with the ITM CALLs and OTM PUTs lining up with roughly the amount of shares that SI% dropped by in January from 226% to 30%. Meaning that these were most likely used to hide SI%: + +[ Rough Calculation of SI Dropping Based On ITM CALLs](https://preview.redd.it/grxh4pl90fj71.png?width=2030&format=png&auto=webp&s=c485f03b8cfd21d489495c9717384ebd5dd9dc9e) + +But wait... [the SEC document](https://www.sec.gov/about/offices/ocie/options-trading-risk-alert.pdf) describes these anomalies as a "Buy-Write Trades" to reset failure to delivers? + +If a failure to deliver is reset, it won't pull the SI% away because the short is still on the shorter's balance sheet. On top of this - the failure to deliver would cause another failure a few days later. So if it was used for a FTD reset then we should have seen these anomalies of ITM CALLs non-stop, which we did not. + +Likewise, we did not see nearly enough FTDs at the time to justify this many buy-write trades. + +So what happened? + +My friend "Assets" on Discord described that the ITM CALLs could have been used as a pure risk-swap of the short position from the SHFs to fake-out to the world that the shorts have been closed. /u/quiquealfa also kept hammering this theory my way. And yep, sure as hell makes sense. + +What happens is that Citadel (or another counterparty) pulls the short position from the SHFs books by giving them synthetics to cover with through the ITM CALLs, and then they enter into Equity Total Return Swaps to reposition their portfolio so that they're still effectively short the stock. + +**Reposition**? + +Hmmm? + +[ https:\/\/www.reuters.com\/article\/us-gamestop-melvin\/hedge-fund-melvin-capital-has-closed-gamestop-position-spokesman-idUSKBN29X0EN](https://preview.redd.it/ovjp9h0b0fj71.png?width=908&format=png&auto=webp&s=c2ab0828cf012915425aea0277859293ceb789d0) + +Legally speaking... they're not lying. + +I do believe that Melvin closed their original short position (directly shorting GameStop) but they're still effectively short through the exposure of Equity Total Return Swaps and that Citadel took the short position bag: + +1. Melvin and other SHFs buy up ITM CALLs with low OI so that the counterparties are guaranteed. +2. Melvin and other SHFs exercise the ITM CALLs to obtain synthetic shares from the counterparty (Citadel, Virtu). +3. Melvin and other SHFs deliver the shares to the clearing house to close out of their original short position. +4. By delivering synthetics through the ITM CALLs, the counterparty (Citadel, Virtu) is now net short the trade and must hedge the short position to avoid forced buy-ins. +5. Melvin and other SHFs open Equity Total Return Swaps with the counterparty to reposition their shorts and still have short exposure - only this time, the shorts aren't on their balance sheets. +6. Short Interest drops because it is no longer reported on the SHFs balance sheet. Rather, it's on the broker-dealers who have special privileges for the sake of liquidity. +7. Counterparties open up DOOMPs to hedge these synthetics/Equity Total Return Swaps. +8. If the stock goes up, the SHFs are still screwed because they are "short" through the derivative exposure. Citadel and Virtu are also screwed by taking on the bag. Why would they do this and take the risk? They probably already have bags with other Equity Total Return Swaps or are involved in them through their own Hedge Funds. + +And thus, it is a fake-out that the squeeze is "over". + +Sure. They "covered". With synthetics. But they went straight back into the short position through derivative exposure and the entire short position is even bigger than before because they doubled down. + +The anomaly in February, honestly, could have been them pulling the risk from Archegos if Archegos was indeed short GameStop. Pull them off of the table before they go under and **really** bring things down. + +And we can be pretty damn sure of this whole risk-swapping bullshit because of: + +* The mechanics around Equity Total Return Swaps hiding Short Interest +* The mechanics around Portfolio Swaps and how "meme" stocks move in tandem +* The "losses" of Melvin over the quarters from premium payments for the ETRSs. Seriously - how do you lose 54% in January, get 22% gains in February, and then go back to 54% losses in this bull market? +* The ITM CALL and OTM PUT anomalies +* The fact that futures/forwards/other derivatives can be used to hedge against Equity Total Return Swaps +* The quarterly price runs happening exactly around the time when derivative settlements occur and volatility is injected into the market, especially for swaps. + +Hey Shorties. Citadel. Virtu. Banks. You guys ever watch IT 2? 🖕**🐶**🖕 + +[ Not Scary At All](https://preview.redd.it/tv3rkipc0fj71.png?width=1908&format=png&auto=webp&s=18d6a4876d280bdfc583f4f83eb23b10d91cdeb5) + +# 5. OTM PUTs (DOOMPs) Hedged The Swaps/Shorts; Each Cycle is More Explosive + +To leave you, I have a theory for the OTM PUTs that were opened in January. The near 1.1 million OI worth, or 110 million shares worth. + +This can be even **more** tit jacking for you guys. + +From the following study: [https://www.researchgate.net/publication/326471260\_What\_Drives\_the\_Price\_Convergence\_between\_Credit\_Default\_Swap\_and\_Put\_Option\_New\_Evidence](https://www.researchgate.net/publication/326471260_What_Drives_the_Price_Convergence_between_Credit_Default_Swap_and_Put_Option_New_Evidence) + +There's statistical evidence of DOOMPs (very low DOOMPs, in our case <$5 strike) being used to hedge against swaps and short positions. This paper discusses Credit Default Swaps (CDS) but, Equity Return Swaps are roughly equivalent in structure and can be applied here. + +[ What Drives the Price Convergence; Pg 9](https://preview.redd.it/1c5qeh8f0fj71.png?width=721&format=png&auto=webp&s=cf77c1c46616f8474d6e02021e81adb97f42e257) + +[ What Drives the Price Convergence; Pg 23](https://preview.redd.it/w420lzgf0fj71.png?width=724&format=png&auto=webp&s=4664041890372cf5a63d9971155c0a07411ce0b6) + +These DOOMPs are further described to hedge risk here if you want more fun reading: [https://core.ac.uk/download/pdf/39665201.pdf](https://core.ac.uk/download/pdf/39665201.pdf) + +>The common features amongst credit derivatives is their ability to transfer credit risk from one counterparty to another, and their payoff is materially affected by credit risk. + +When they pulled the (reported) short position from the SHFs balance sheets, the counterparties had to hedge against those additional shorts and (possibly) the new swaps. How to do so? Open up DOOMPs. The following is a chart that shows total PUT OI (not Deep OTM) but it is a great visual to see the PUT anomaly: + +[ \/u\/broccaaa GME Option Open Interest; PUTs and CALLs](https://preview.redd.it/vtj04ash0fj71.png?width=1716&format=png&auto=webp&s=a6b51839693e60048bdbfe94ad82096666a9c332) + +And by "DOOMP" this means **deep** out of the money PUTs. Like, bankruptcy-low bets. It's **impossible** that the stock would go this low. So rather, these were used as bankruptcy credit bets for the credit hedging. + +In the study, they state in their sample of hedging that the majority of DOOMPs are opened and mature within six months. They found roughly 77% of their sample did so: + +[ What Drives the Price Convergence; Pg 2](https://preview.redd.it/dxdymr3j0fj71.png?width=719&format=png&auto=webp&s=aaa820860740e19cd434b282e68b45f90d017146) + +It would be curious if 77% of the DOOMPs opened in January expired as of July 16th, right? + +/u/Quiquealfa did some quick maths regarding this. Because he's my goddamn quant (also my original source of the swap DD that I stole from). Guess what? He came up with \~76.5% DOOMPs (under $3.5 strike) that expired as of July 16, 2021. + +Looks pretty close, statistically, to a risk hedge for those shorts that they took on from the SHFs: + +[ \/u\/quiquealfa DOOMP Data - Expirations Within 6 Months](https://preview.redd.it/onj1inik0fj71.png?width=1453&format=png&auto=webp&s=58f4349f7baacaf7581e2165c44c9b00d43a9b40) + +If the culprit of the runups is hedging the swaps via buy-ins, then they were mostly protected for the March and June runs due to the DOOMPs. + +It was a slow runup in March and we didn't see the price boom until the final 3 days of the roll period. There were about 1,200,000 OTM PUTs (all strikes) during this time. Lots of hedging protection for the runup. + +But then June comes around, and it was a much more violent roll period. I believe Gamma Neutral started to spike more frequently here as well. I was expecting Gamma Neutral to spike around June 4th but /u/yelyah2 showed that it spiked two days earlier than expected. There were about 800,000 OTM PUTs during this time. The loss of PUTs made it harder to hedge during this runup. + +And here we are, days before the expected run to start, with the price starting to surge. It could be other underlying reasons but I think it's due to the additional loss of DOOMP hedging, as OTM PUT OI is now down to roughly 500,000. + +Here's /u/broccaaa's chart, once again, for a visual of what I mean. It has arrows pointing roughly to when the price runs occurred. I shittily drew in what the OI for PUTs is as of today. You can see that the majority of their hedging through the DOOMPs is **gone** and has been decrementing for each quarterly sneeze: + +[ \/u\/broccaaa's Chart Extended](https://preview.redd.it/ybnvmhyl0fj71.png?width=2298&format=png&auto=webp&s=9733213bd1100e51574a4cc59b75d0fa40ffa420) + +It's quite frightening that the price is already above $200 and it hasn't even hit "First Notice Day". + +Maybe there's an even **MORE** violent squeeze coming due to lack of hedging with the DOOMPs. + +Guess we'll just have to wait and see. + +[ Quarterly Price Movements Compared](https://preview.redd.it/6og6cdon0fj71.png?width=2438&format=png&auto=webp&s=514c9850ff0f32cd7ea2d3ed439f4cd15dcb78f1) + +Much love. May MOASS come soon. 😎 +Every article I read paints the picture that the housing market dropping 20% will be a disaster for the country but for low income earners like myself I might be able to actually afford something decent in a short while. During the pandemic prices were moving up so fast I thought it was over for me and the media was celebrating this. I guess im supposed to feel guilty that I may not be priced out of owning home? + +There’s all this talk about addressing housing affordability but when it actually starts to happen people scream the sky is falling. I don’t get it. Do people earning less than 100k per year even have a goddamn voice in this country? +Anyone else noticing massive turnover in personnel at work recently? + +I had heard people talking about "the great resignation" and honestly didn't see it happening at the start of the year, but all of a sudden in the last few months we have had a massive wave of resignations. + +I work in an engineering company and we must have almost a quarter of our roles open at the moment, to the point where management is getting very nervous about losing key personnel and talking about hiring in contractors to tide us over. + +I figure there has been a build up of people who would have otherwise left in the last two years but have hung around to play it safe during the pandemic. + +Is this happening elsewhere or is it just my company? +&#x200B; + +[Emoji eyes on June 18, 28, 29](https://preview.redd.it/jpdy9nt0geb71.png?width=175&format=png&auto=webp&s=49f197fdbd847b3a8e18f63c5fb7652956305a9f) +Hey everyone! Great to be here and I'm looking forward to spending an hour chatting. I'll do my best to answer anything I'm able to - I've been working in markets for a long time now (17 years!) and have been pushing for regulatory reforms since 2012 when I testified before the Senate Banking Committee. We recently launched an effort to build a grassroots advocacy campaign at [we-the-investors.org](http://we-the-investors.org) and I'm excited for the opportunity to help retail advocate on its own behalf. +First of all, I can't wait to be berated in the comments. + +I'm gonna be blunt, I have seen a whole lot of dumb shit over the last week. A lot more than normal. And compounding all of that is an unprecedented amount of legitimate emotional involvement here. So let me get started by saying outright that people getting emotionally involved with trading stocks always lose. Short, long, whatever. It doesn't matter if you're a 19 year old throwing in your life savings or Bill fucking Ackman not being able to admit he was wrong with Herbalife. Letting your emotions be a major factor in trading is a fantastic way to lose money. + +And a whole lot of you are really emotionally involved with this GME, AMC, whatever. + +To the point: I am not making a buy/sell/hold/whatever recommendation. I have no special insight in to what's happening with GME or whatever else. What I can tell you is that it is for sure not worth $300. + +So let's dispel one quick thing: this is not David vs Goliath. It also isn't the little man vs hedge funds or WSB vs big finance. It might have started out that way, but if you only read one thing [read this](https://www.bloomberg.com/opinion/articles/2021-01-29/reddit-traders-on-robinhood-are-on-both-sides-of-gamestop): + +>Many of the big retail brokerages, including Robinhood, route a lot of their customer orders to Citadel Securities, so it ends up seeing a large percentage of retail trades in U.S. stocks. It can see if retail traders are mostly buying or mostly selling or mostly pretty balanced. You might expect—I certainly expected—to see that retail traders were buying more than they were selling this week. The stock seemed to be rocketing up on frenzied retail sentiment, and the posters on WallStreetBets were all claiming that they would never sell and keep buying until it hit $1,000. + +>But here’s what Citadel Securities’ retail flow looked like in GameStop this week: 1 + +>[Graphic here](https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i9SnRzR8AM1c/v0/800x-1.png) + + +>Retail investors were net buyers on Monday but net sellers for the rest of the week (through yesterday), and all in all quite balanced: About 49.8% of retail orders (that Citadel Securities saw) were to buy, and 50.2% were to sell. + +>What do you make of that? One reading would be: “Retail investors on Reddit might have started the GameStop rally, but they’re not piling into this stock now, and the price action this week is coming from professionals.” Or as one Twitter user put it, “past the retail ignition, the rocket ship was mostly intra-fast money warfare.” + + + +So, just to be clear about this, there is massive institutional money on both sides of this trade, and retail is a toddler sitting at the world series of poker. + +**Understand that melvin does not need to cover in the way a retail trader needs to cover**. +You, and everyone else, have no idea what Melvin's position looks like, and they can reorganize and exit a position before you ever knew it happened. You don't know how hedged they are, you don't know what their collateral looks like, and you don't know if they've covered and restructured a short at last week's prices. You simply don't know. You only know what's been presented in the news, which is almost certainly bullshit. + +This thing could come to an end as fast as it started and you won't know what happened for weeks. You might go take a shit at 1pm today and come back to GME trading at $16 because Ken Griffin got on CNBC and announced they restructured their short at an average price of $200, and were happy to sit on it. Make no mistake, you'll get kicked in the nuts and have your ball taken away faster than you can comprehend. + +**Emotions** +The problem with this whole "strike back at wall street" narrative is that lots of you are getting really worked up over this trade. Losing money sucks, but losing money and feeling like you got shit on by the big guy is going to hurt. This isn't a moral crusade to them, it's 25 billion dollars. So if you're out here putting money and emotions on the line that you can't afford to lose there won't be a happy ending. + +Want to fight the good fight against wall street? Write your congressman, Tweet AOC or Ted Cruz, get you a fucking picket sign and go wave it around on the streeet. But dropping money on GME that you need in life ain't gonna change anything except your net worth. + +TLDR: + +1) know and understand who is playing this game. And that they have access to tools, leverage, and markets that you do not. You're playing Le Chiffre at Casino Royale right now, you might think you're James Bond but there's a good chance that you're just the fat dude in the corner. + +2) Short squeezes end fast. As fast as they started. If you're new to trading then understand buying GME at this price can mean all of your money will evaporate before you had time to make a TikTock about it. + +3) Get your emotions out of play here. This whole nonsense political narrative is only going to cause you to make trading mistakes. Can't handle that? then maybe it's not a good idea to sit at this table. + +Lastly, if you really just can't get yourself out of the whole "fight the hedge funds" nonsense, at least understand that you're spending money that you likely won't get back. If that's worth it to you then have at it. But don't fool yourself in to thinking otherwise. + +**E: Completely unrelated**: I hate reddit awards, reddit doesn't need your money. Go buy like a hundredth of a share of VTI or something. +We said in the beginning we’re doing things differently at MicroPets! + +Please enjoy a sneak peek into the initial artwork from our development partner, Cubix. + +**CHECK OUT THE FIRST LOOK VIDEO: https://www.youtube.com/watch?v=yaSS5VeIeqg** + +🔥 This is just one of the SIX different environments players will be challenged with as they navigate the MicroPets Runner game and earn rewards. + +😲 Each environment will have its own unique obstacles as the player plays the game, which gets faster and more challenging the longer the user plays. + +This isn’t a game trailer or anything like that. Instead, we’re showing you what we see and what we approve as we build the game, bringing you as an investor into the development process. Part of our commitment to transparency and community because we wouldn’t be here without you! + +🚀 There will be custom sound effects and music design integrated as well making it into a more immersive experience. + +*😎 How cool is it to see and be part of a game being built?* + +Everything is on track and going extremely well. + +&#x200B; + +Thank you for your support! + +&#x200B; + +\-The MicroPets team + +&#x200B; + +Telegram: https://t.me/MicroPets + +Website: micropets.io + +Game First Look: https://www.youtube.com/watch?v=yaSS5VeIeqg +I’m trying to grasp if billionaires actually pose a significant impact on the working class. On the consumer side I wouldn’t think they would trigger much inflation outside of stocks since their consumption for food, cars etc. are similar to a working class consumer. Perhaps on the income side they cause a suppression of wages by extracting excess value but wouldn’t competition generally minimize that excess? What am I missing or is there no fundamental problem with billionaires? +No CGT. + +Flexibility to move around to pursue more FOMO. + +The chance to experience multiple different shit memes, shit DD, shit pumps, other local highlights. + +Move to overseas markets for a while. See what it's like to lose money in other parts of the world. + +Invest in speculation, pump up your meme stocks, take advantage of T+2. + +Live in multiple parts of your girlfriend's husband's house; go dumpster diving in each state. + +Equity Builder for leverage if you desire greater losses. + +Dealing with mods? Yeah, but no dealing with ETFs. + +No pesky dividends. + +Make more money than a mortgage would cost. + +More internet losers, in more places. + +Invest in memes, not profitable companies; be a more degenerate member of society. + +End up in a place with screaming neighbours? No worries, move subreddits in 6 months at no real cost. + +You are not a "failure" as a meme stonker. The narrative needs to change for us to progress as a country. +I'm a newbie to value investing and have been binging on Roaring Kitty's Youtube videos for the past couple of weeks. I see he takes into consideration a lot of factors to figure out if the company is undervalued or if the company won't go bankrupt (which I believe is his style of investing) .But how does he figure out the value of a stock. Say even if he's ballparking , what is that based on? I'm sure it can't be a simple straight forward formula where you plug in the numbers and outputs the value. If he says a particular company at this current price will be a 4-5 bagger, or sometimes he says "I'd prefer this stock under 10$" how does he determine the value ? + +(p.s I'm a beginner so any article or books or tips y'all think would help me out in this learning process would be appreciated ) +Where are all these „is [insert russian stock] a good buy posts comming from? +I mean seriously? Read the newspaper guys. +Imho nobody can seriously think about putting money in a stockmarekt that is likely gonna stay closed for non-russians and call it vAlUe InVeStInG +So recently, I found out that my grandparents have been renting out the two other units in their triplex for $900 a month, far, *far* under market value for a unit in Portland, Oregon, USA. It's not in the suburbs. It's in the city proper. The triplex takes the form of an upstairs unit, a middle unit, and a basement unit. They live in the middle one and rent out the top and bottom ones. I felt their story is worth sharing, although I'm not sure if this is the right place. Please let me know if it's not! + +My grandmother immigrated from China to the United States in the 1960s fleeing the Cultural Revolution. She and my grandfather worked as grocery store clerks for 40 years, despite my grandfather having a degree in mechanical engineering, because the language barrier meant he couldn't sit for the state engineering board exam. They put my father and two aunts through college. Originally, the house they bought was a duplex, having only the upstairs and the middle floor, with them sharing the mortgage with another family. That other family eventually sold my grandparents the other half of the duplex for $100,000 (decades ago, can't remember exactly when I think in the 90s). They later added the basement to make a triplex. + +Now, they own the entire house free and clear and rent out the top and bottom units. An old lady lives on the top floor with her son, who has since moved out, but she keeps renting it. My grandparents charge her $900 a month and have raised the rent one time (it used to be $850) in the past ten years. The bottom unit was listed for $950 and rented out to two young men. + +The market rate for a two-bedroom flat in their area is 50% more than what they're charging. When they reviewed applications for the bottom unit, they only wanted to rent to working-class people. + +When I asked them why, they said that it was because when they came to America, they were poor too, and they felt like they were giving back to the community by renting out the units at far below market rate. I told them that they could be making a lot more money, and my grandmother said (translated from Chinese): "I don't need more money. I'm old and retired, and the house is paid off. Between your grandpa and I, we get around $2,000 a month from pensions and Social Security. A few hundred dollars more a month won't do us any good. Even if we have a boatload of money, that money only lasts one lifetime. When I pass on, I won't get to take any of it with me. We already have enough to live comfortably, so why charge more?" + +Anyway, that's all I wanted to share today. Never posted before in this sub so sorry if it doesn't go here. +I don’t understand why so many people think “value investing” means buying a company that is trading “cheaply” relative to the cash flows it has produced in the past, often focusing on bad businesses in bad industries with little to no growth prospects. + +The value of a business is the discounted cumulative free cash flow to equity holders you expect it will generate as a going concern. + +The last time I checked, “growth” is a pretty darn important variable in forward models. In the “old days” you could find net nets and great (cheaply priced) franchises because of the vast asymmetry of information, having to request then comb through reports. You could buy predictable businesses at a discount with extrapolated cash flows because of this asymmetry. + +As financial information became democratized and everyone could access it, then screen it, and with the rise of institutionalized investing, those inefficiencies disappeared, forcing investors farther out on the conviction curve. Meaning, investors would need to start actually having an imagination and assigning more value to qualitative factors and deciding which future case they want to hang their hats on. + +Investing is hard...but fun and rewarding when you do well. Take time to understand the fundamental characteristics of the industry the business you’re studying is operating in and the changes in bargaining power between all the players. + +Value investing is not dead. It’s the only way to invest long-term without risking your shirt. It’s perfectly fine to trade, but just know what game you’re playing when you get into it. When you buy a stock you should pretend you are buying the entire business at that price, and only able to sell it every few years. Because of that, make sure you’re happy with the skills and honesty of the people at the top (and the prospects) of allocating your capital. + +Planning on writing much more on process, looking forward to joining your community. Much love ✌🏼 + +All the best +Howard + +@Howard_dAnconia on the twitters +I've been investing in dividend growth stocks for 7 years now, and this is my current portfolio. + +A couple of notes: + +\- The 13k pay for a around 57% of my expenses. Not quite FI, but getting there. + +\- I own 73 stocks, which is too high for my taste, so I'm re-balancing to focus on my core stocks + +\- The portfolio payout ratio is only 39%, based on forward earnings. This is a key metric I focus on. I value strong financials and dividend growth over current yield. + +&#x200B; + +https://preview.redd.it/kxndbp7a5gr71.jpg?width=1153&format=pjpg&auto=webp&s=0b3752c1ff016f662bba95a27535669e6b4274be + +&#x200B; + +EDIT: Since a lot of you have asked for it, here are all the stocks I own, as well as some I sold. + +&#x200B; + +https://preview.redd.it/hvjcr98vdir71.jpg?width=1920&format=pjpg&auto=webp&s=79403e2523711b651efab198a91e6b6f39ad0a2d +I see a lot of complaints online about boomers holding on to the majority of the wealth and the younger generations are getting shafted without a way to build their wealth. I find this (static view) hard to believe, as the boomers can't really take their wealth beyond the grave, and the younger generation will have to, by definition, acquire wealth that is passed on in due time. Is this not the case? Why are some millennials complaining when the boomer wealth simply \_must go somewhere\_ in a few decades? + +Assuming boomers cannot take wealth beyond grave, where do the money actually go? Is there a study of how wealth transfers across generation due to the passing of members of the older generation? Do they mostly get gobbled up by family, or government, or the real-estate market? Or is the wealth going to simply "pass through" the millennials from their inheritance straight to the debt collectors such as student loans? +We all agree that the idea of budgeting yourself out of poverty is utter bullshit, but one thing I never see anyone talking about is how hard it is to have self-control when you're poor + +You chronically don't have enough money to do what you want to do. + +Your car breaks down? You're fucked. + +A relative or yourself get sick? You're fucked. + +And there's bills, food, gas, rent. + +If you're poor, most likely you work a lot and earn very little. You are deprived of energy, nutrition, and happiness. + +Then you get like, 300 extra bucks. You've wanted to get pizza for three months. You've walked past that expensive book you've wanted to buy for months. There's that bicycle you've wanted for years. That nice phone (yours sicks, of course). That pretty dress. Those nice shoes. + +For MONTHS you've wanted that. MONTHS. Willpower is a limited resource. You've been forced to economize every dollar for necessities for a lengthy period of time. + +Chances are that you're going to spend those 300 hundred dollars in something you don't need because you are TIRED. Deprived. Unhappy. You have these 300 hundred dollars now. You don't know when the next 300 hundred will come. You could indeed put them aside... but that byke? When will you have the money again? + +You've worked 12 hours and you're coming home. Your fridge is empty. You should go to the grocery store, pick food, get home, get the bags home, cook the food, eat the food 2 hours later. You are too tired for that. You still have to clean your house up and have a shower. It's three weeks that you want pizza. You say "fuck it" and buy pizza even if you can't really afford it. + +Rich people spend their money better because they know they are going to have more money. There's no rush because if they can't buy the bicycle this month, you will be able to another time. They could afford pizza last week, so it's easier to say no to pizza this week. They worked 8 hours, there's time to clean up. Other money is going to come. + +We are just human beings. We are constantly bombarded with ads and things and new needs created by new markets (smartphones didn't even exist in 2007. Now you literally can't function in society without one and an internet connection. You literally can't find a job if you don't have at least a smartphone). Poor people do tend to do poor choices when it comes to money, but it's just physiological (I, at least, do many). You can only go so far with depriving yourself of pleasurable things. + +Sooner or later you are going to break and spend your money on something dumb because you are exhausted. + +It's not just a matter of not materially having money. No one considers energy, time and willpower, resources that you quickly finish when everything you have to do it grind your teeth and keep going. + +EDIT: I meant 3 hundred not 300 hundred sorry lol I'm tired +Mine favorite is those days where the S&P reaches a new record high and my brokerage account loses money. + +It’s the best, you guys. + + +The. + + +Best. +For those not familiar, there are lots of land available in Western US (CA, AZ, CO, NV) for dirt cheap prices. Prices are generally under $1000/acre. The land is usually un-useable, meaning: no water, no power, no sewer, restrictive zoning laws, and hours from civilization. + +I’m not questioning why the land is cheap, I understand that these are generally garbage unusable bits of land. + +What I don’t understand is the cottage industry that seemingly revolves around buying and selling this land. There are hundreds of these small private land companies generally owned and run by one person. They may own 5-20 of these land properties, and have them listed for sale with the option financing via the seller with very generous terms. The entire transaction is done online and they generally take credit card.\` + +Who is buying this land from them? I have seen parcels bounce between multiple re-sellers, which implies they sometimes sell to each other? How is there possibly enough sale volume to sustain hundreds of these little land business year over year? + +I just don’t understand from a business perspective. Presumable they must be making a decent return, otherwise why would they continue to exist and turnover property? + +Is there some kind of other purpose for these businesses that I am not seeing? Maybe tax advantages? + +Here is an example of one, seems sketchy/scammy to me[https://www.wglands.com/property/?sort=&loc=&beds=&baths=&terms=&status=available](https://www.wglands.com/property/?sort=&loc=&beds=&baths=&terms=&status=available) +My fiancée and I are recently engaged and she just told me that the place I thought they were renting is actually owned by her and her sister. + +After her father left them, it looks like they pooled their finances and bought a townhome about 4 years ago. + +It’s under her and her sister but all three (mom, sister, fiancée) have been splitting the mortgage and evenly the last four years. + +She told me she is looking to get out of it by signing it over to her mom (she’s not looking to gain anything from it, it looks like she just wants to gift it her and get out of the mortgage) + +I am just wondering how this could affect us in the future once we’re married. Provided there were never any late payments and they were financially responsible, is it possible for her to actually remove her name from her mortgage and not affect our own finances once we pool things together? I am wondering if this would ruin for example, the First time home owners programs the government provides if we were to try to buy our own place. + +Also idk how this looks like on her report when we are applying to rent an apartment +I go to a casino and walk over to the first table I see. The sign above the table says, "Kelly's Game". The dealer says, "Place a bet and The House will flip a coin. If you win the flip, The House will pay you 150% your money back. If you lose the bet, The House will keep 40% and return the remaining 60% to you." + +"That sounds great," I say. *Positive expected value. If I bet a lot, I should expect to get 105% of my money back on average. That's a good bet.* "What's the catch?" + +"Ah, yes. There *is* one more rule," says the dealer. "You must bet all of the money you have each bet or not at all." + +### How many times should I bet? + +My intuition tells me that the more times I bet, the better I should do. The law of large numbers should mean that over time, my overall winnings per bet converge on my expected value of 105%. In the long run, I feel like this is a rational bet. So, my strategy will be to make the bet 800 times and see where I am at.  + +Since I'm betting all my money on each bet, I can only actually test my strategy once. Let's think of that as a single universe, my universe, where we see a single unique chain of events. But, before I actually go to the casino and bet it all, I want to guess what my universe will likely actually look like. To do that, we will simulate a multitude of universes, each completely independent of the others.  + +Here's 1,000 simulations of my strategy where each colored line is my total bank, each simulating a single possible universe where I execute the strategy faithfully: + +[1000 simulations of 800 sequential bets of 100&#37; of the bank with 50&#37; to go 1.5x or 0.6x](https://preview.redd.it/wq79mdbxf0s61.png?width=820&format=png&auto=webp&s=f229d1e4ee4463721ff82f13a0338ef0a576b8b8) + +Notice the log Y scale. The dashed grey line with slope of 0 is breaking even. Negative slopes are losing money, and positive slopes are winning against The House. + +The dotted black line is what I expected to gain, 105% per bet for 800 bets, netting me an expected 80,000,000,000,000 more than I started with. If I take the average of an infinite number of universes, my mean return *is* equal to the dotted black line.  + +**But I only sampled 1,000 universes.** After 800 bets, only 1 universe in 1,000 has (just barely) more money than they started with. The more bets that I make, the worse it gets for me. The typical (median) return marked by the dashed white line is 1,000,000,000,000,000,000 *less* than what I started with (since you can never reach 0, you always get 60% back). I have a few tiny fractions of a penny left and a dying dream to recoup my money. + +**The typical universe is very, very different than the average of all possible universes.** I'm not from a mean universe. I'm from a typical, likely, universe. The median of a small number of samples more accurately reflects my reality than the mean of the infinite set. While the total money in all universes grows at 105% per bet, the money leaks from the typical universes to just a few extremely rare, lottery winner universes. There are some small number of universes in the set where I win an ungodly amount of money, but in almost every *other* one I lose big. + +Why is this so? In short, there are many more ways to lose money than to win money. Let's look at all four of the possible universes of 2 sequential bets: + +[There are more ways to lose than win](https://preview.redd.it/csnn9uf2g0s61.png?width=581&format=png&auto=webp&s=d01610db7effcc89e7d9bb78f1a8adeb4406c04b) + +There is 1 way to win and 3 ways to lose. The average winnings are still 105% per bet, compounded to 110.25% over two bets, but 75% of the time you lose money and 25% of the time you win big. The more times you bet, the worse it will typically get for you since you are more and more likely to be in one of the exponentially growing number of losing universes rather than the rare, exponentially rich ones. + +In this game, the rational number of times to bet depends on how much you care about losing 40% or more of all of your money. Since I consider having a 50% chance to lose 40% of my money too unpalatable, the number of times it is rational for me to bet is zero, even though the bet is positive expected value. + +*Screw this game.* In the universes where I bet 800 times I've lost all my money. In one of those universes, I go back home and wait for my next paycheck. + +### How can I win the game? + +When my paycheck comes in, I go back to the casino and back to the same table with the same dealer. "Your game is rigged," I say. "I want to bet against The House with my paycheck again, except this time I won't bet everything I own every time. I want to bet less and see how it goes."  + +The dealer considers this, and says. "Fine. But you must pick a percentage and you must make every bet with that percentage of all of your money." + +"Great. I'll bet half my money each time." *That way if I lose in the beginning, I'll still have money to bet with.* + +Let the gods simulate another 1,000 universes, using our new strategy: + +[1000 simulations of 800 bets of 50&#37; of your bank with 50&#37; to go 1.5x or 0.6x](https://preview.redd.it/tq552k45g0s61.png?width=820&format=png&auto=webp&s=ca4db3d2b64d8902fee2172377227407bdf88cf2) + +After 800 bets, half of our universes have made money, and half have lost money. Keep in mind that **nothing has changed except how much of my total bank I use to bet**. My typical universe is doing much better than before, but a far cry from the 80,000,000,000,000 return that my infinite selves are earning on average. + +After 800 bets, I'm right back to where I started. The dealer says, "The House is feeling generous. You may now choose a new percentage to place on each bet. What will it be?" + +*Reducing my bet size improved my situation. Perhaps even smaller bets will continue to make things better.* + +"Twenty five percent," I declare as I lay down last week's paycheck on the table, again. The gods flip the coin 800 times in 1,000 universes yet again: + +[1000 simulations of 800 bets of 25&#37; of your bank with 50&#37; to go 1.5x or 0.6x](https://preview.redd.it/1hg1jvr9g0s61.png?width=820&format=png&auto=webp&s=1288c977cb6e6b9b50a7d80c758e3ca7d1e33472) + +Now my typical universe is making good money, most of them are up more than 10x, and some as much as 100,000x. Now, satisfied, I finally get up to leave the casino with my money in my pocket. *But, I have to know.* I look at the dealer and ask, "So what's the optimal bet?" + +### Kelly's Criterion + +*In probability theory and intertemporal portfolio choice, the* [*Kelly criterion*](https://en.wikipedia.org/wiki/Kelly_criterion) *(or Kelly strategy or Kelly bet), also known as the scientific gambling method, is a formula for bet sizing that leads almost surely to higher wealth compared to any other strategy in the long run (i.e. approaching the limit as the number of bets goes to infinity). The Kelly bet size is found by maximizing the expected value of the logarithm of wealth, which is equivalent to maximizing the expected geometric growth rate. The Kelly Criterion is to bet a predetermined fraction of assets, and it can seem counterintuitive.* + +To calculate the optimal bet size use + +[Kelly's criterion](https://preview.redd.it/c1oiagsag0s61.png?width=126&format=png&auto=webp&s=8734d6f709c4e43ade29656a60e9cf9b3ad87b9a) + +where  + +**{b}** is the the percent your investment increases by (from 1  to 1 + b) + +**{a}** is the percent that your investment decreases by (from 1 to 1-a) + +**{p}** is the probability of a win + +**{q=1-p}** is the probability of a loss + +**{f\*}** is the fraction of the current bankroll to wager (i.e. how much to bet) + +Using the calculator, you can see the **the optimal bet size is 25%** of your money on each bet: + +https://preview.redd.it/bks0yqccg0s61.png?width=820&format=png&auto=webp&s=b023fcc98a3ebb31f4ade5732166c8b37042870a + +Looking again at the above graph, that means that **the optimal betting strategy typically yields less than the expected value** for the strategy. + +### Kelly's Criterion Bet Size Calculator + +[Here's a spreadsheet](https://docs.google.com/spreadsheets/d/1gXIAsFgf86_RPiiG8qfoKScj9e4v5DZp4k1FgvbTQC4/edit?usp=sharing) to play around with the above equation and calculate optimal bet sizes.  Make a copy and edit the cells highlighted in yellow to see what the optimal bet is. Read more in this [awesome Nature Physics paper](https://www.nature.com/articles/s41567-019-0732-0) and this [great article an AMMs](https://research.paradigm.xyz/uniswaps-alchemy). +#HOLY MOTHERFUCKING SHIT + +Gonna make this one short and sweet so all the smooth brains who don’t like big walls of text can take this info in. + + +🚨STRAP THE FUCK IN🚨 + + +President and Co-Chief Investment Officer at Citadel James Yeh + + +James Yeh is President and Co-Chief Investment Officer at Citadel and a member of the Portfolio Committee. James oversees Global Quantitative Strategies, Global Fixed Income and Macro, as well as the advanced analytics that support Citadel’s fundamental equities businesses. + +James joined Citadel as one of the firm’s first employees in 1993, after completing his Ph.D. in Physics at the University of California, Berkeley. James was instrumental in building Citadel’s statistical arbitrage business and pushing the firm’s expansion into new strategies. Over his career, James has led a number of Citadel’s key businesses including Citadel Global Equities and Global Quantitative Strategies. + +James serves as a Charter Trustee of Princeton University and is a Director of the Princeton University Investment Company. He earned an A.B. summa cum laude in Physics from Princeton and a Ph.D. in Physics from the University of California, Berkeley. + + +Take notice of that second paragraph. + +This fucking dude has worked there since the absolute pile of shit they call Citadel was created. He is the next one down from the devil himself. + +Here is his profile for reference : https://www.citadel.com/leadership/james-yeh/ + +GUESS FUCKING WHAT. + +#HE’S RETIRING + +https://www.prnewswire.com/news-releases/james-yeh-to-retire-after-distinguished-25-year-career-with-citadel-301425841.html + + +#BUCKLE THE FUCK UP + + +#TLDR: PRESIDENT OF CITADEL RETIRING AFTER BEING WITH THEM SINCE THE START AND THIS HAS NOT BEEN MENTIONED ON SUPERSTONK +With Christmas coming up and costs continuing to rise, I thought it might be useful to repost this list of ways you can earn some extra money here in the UK. I know when people typically think of using sites/apps to earn a few extra quid that "50p surveys" are the first thing that comes to mind, so I'm sharing this list to show that there are much better options out there for folks in the UK who have some spare time on their hands and could use an extra few hundred pounds. + +So with that said, I decided to create this guide detailing how I would approach a few different scenarios because, after 2 years of earning money from online work and having tried out many different means of generating extra income, I'd like to think I can offer some advice in this area. + +The 3 Scenarios are: + +**(1)** How I would go about Earning **£200-£300** in the next 30 days if I had no money to spare. + +**(2)** How I would go about Earning **£400-£500** in the next 30 days if I had £100-£200 to spare. + +**(3)** How I would go about Earning \~**£150** from referral offers. 1-2 days needed to complete, Payout times vary from one day to several weeks. + +&#x200B; + +# Part 1: Earning £200-£300 in 30 days (No money needed) + +If I was dead set on making an extra £200-£300 in the next month or so, the sites below would be my target for online earning. Of course, I can't guarantee exactly how much I will earn from using these sites every month, but below you can see how much I earn on average from using them. + +I don't have any special skills or qualifications. When I started working on these sites, I had no experience in any of the types of work that I do now. If I can work on these sites and Earn £200-£300 per month, then you definitely can too. + +&#x200B; + +**Userlytics** **/** **Ustertesting** **(£30-£60 per month):** With this site, you test out the usability of apps and websites and get paid for it. The pay can be very good and the work itself is actually very engaging. I quite enjoy using this site. + +Your work will consist of completing a series of tasks and instructions and interacting with prototype or production websites or mobile apps while speaking out loud to share your thoughts, emotions, criticisms, and suggestions. It probably sounds very different to the type of online work you usually do because, well, it is. It's certainly a site where the work doesn't feel like a chore, I would highly recommend it. + +&#x200B; + +**Appen** **(£50-£200 per month):** So this is a site where you can apply to work on various projects and tasks online. I open the Appen app daily and there's never a day when I'm not greeted by a variety of tasks that I can apply for. The rate of pay is very competitive, with some jobs paying up to $20-$25 per hour. Most jobs pay around $15-$20 per hour (which is still fantastic for online work) and I have never found it difficult to qualify for projects. + +The site is legit and it actually feels like real work for good pay. The potential earnings from this site over the course of a year can easily enter the £100s or even £1000s, so if it's not on your radar it really should be. + +Apply for as many projects as you can, it's well worth taking the time to apply because even if you get one project, that's hours of work at a great hourly rate. + +&#x200B; + +**Prolific** **(£20-£60 per month):** I would go as far as saying it's one of the top task/survey/study sites out there. With Prolific you get paid cash for engaging in the research of Academics and Universities from around the world. There are Surveys and studies about scientific research, new products and public opinion. From minutes to hours, to multi-part studies over longer periods, there's a respectable range of studies to participate in. + +It Pays out to Paypal, has a range of interesting surveys and the studies on the site pay a minimum of $6.50 per hour. + +You should also install the browser extension for chrome so that you get surveys while they're going. + +&#x200B; + +**Neevo** **(£30-£40 per month):** Companies submit projects to Neevo to help improve their AI systems. When you’re a match for a project, you’ll be asked to complete a set of simple tasks, which could be in the form of text, audio, images or even video. + +It's a straightforward 'task for pay' site. They payout through Paypal and the variety of projects is good. Also, I think it's cool that you're helping to train AI, although this is the basis for most of these 'task for pay' sites nowadays. + +My advice would be to keep your eyes peeled for projects with bigger payouts, Some of the lower-paying projects aren't really worth it for the time you need to put in. + +&#x200B; + +**Dscout** **(£20-£50 per month):** So with this site you are rewarded for helping with Market Research. The way this works is that you are given "missions" where you offer your opinions/feedback on various products or services in exchange for payment. + +The Pay is very good and payout is received promptly through Paypal. I also like that you answer photo and video questions, it keeps me that bit more engaged. + +Check as often as you can for available missions and apply for all of them. It may take a little bit of time to get your first mission but once you do, more and more will appear. + +&#x200B; + +**Respondent** **(Payout varies quite a bit but definitely has high earning potential):** + +I'm sure some of you have heard about Respondent, It's a site where you get paid for taking part in various studies. The studies can be both remote and in-person but these days most of the available studies are remote. + +It doesn't take long to apply to studies so even if you don't qualify, you haven't wasted too much time. Also, the pay is excellent when you do qualify, with studies paying between $15-$200, depending on the type of study and the amount of time it takes (Generally ranges from 15 minutes to an hour). + +It's not a site that you can depend on for frequent payouts, but even if you land a few studies that pay $50, $100, $150 etc each, you're doing very well for the time you put in, So I think this one is worth checking every day if you have 5 minutes to spare. + +&#x200B; + +**Intellizoom** **(£20-£40 per month):** This is a site similar to Respondent where you get paid to take part in studies. It doesn't take long to set up your profile and get started and some people I know have had a lot of success using this site. + +&#x200B; + +**UserInterviews (£30-£60):** Another site where you can take part in studies and get paid for it. Some people seem to have a lot of luck with this site, and it pays quite well too. + +&#x200B; + +# Also: + +These Earners are a little different since they aren't really 'online work', but they have served me well in the past too... + +&#x200B; + +**Facebook Marketplace:** Sell your old stuff. This one should honestly be mentioned in every thread where someone has asked how to make some extra cash in a hurry. + +We all have stuff we don't use anymore lying around the house and as obvious as it may sound, the items that seem old and worthless to you will be new and exciting to someone else. + +I'm talking anything, literally anything: Old clothes, books, plant pots, technology you don't use anymore, pots and pans, empty jars, homemade crafts etc. + +Old Clothes seem to really sell fast, which isn't surprising because people get excited when they see something that's their style and really cheap. So clear out your wardrobe. + +If you're into crafts, you could sell stuff you've made there too. Last summer I made large painted flower beds out of pallets and sold them, just because I had some pallets and paint laying at home. + +The point is, You could easily make £50-£100 or more if you do a thorough sweep of your house for stuff you don't want/use anymore. + +&#x200B; + +**Vinted:** A fantastic Site/App where you can sell your old clothes. Maybe it doesn't sound like your thing or you don't think you have anything fashionable enough to sell. Believe me, You can sell any item of clothing here. + +Old hoodies, shoes, gifted clothing that you never wore etc. I've sold my old clothes here in the past and been pleasantly surprised with a nice few sales. + +&#x200B; + +**Fiverr:** Offer your services as a Freelancer and get paid. You can earn a lot from the "gigs" you post, but you'll need to have some kind of service you can offer that people will pay for. I'd recommend taking a look at what other people are posting and seeing if you could offer similar work. + +&#x200B; + +**Rover:** Saving the best for last. This one is quite a lovely site where you can offer your services as a dog sitter/dog walker. You can have dogs dropped off at your home and get paid to look after them for a duration of time. + +It's ideal for people who miss having pets or who get a bit lonely working from home sometimes. The pay is usually around £20 per day for dogsitting, maybe £6-£10 for dog walking. If you're at a loose end anyway or just feel like having a furry companion during your free time, This site is a lovely way to earn a little money and make some canine friends. + +You just make a profile and enter your address so people in your area can find you, Bonus points if you have a dog in your profile photo with you. + +&#x200B; + +&#x200B; + +&#x200B; + +# Part 2: Earning £400-£500 in 30 days (£100-£200 needed) + +This one is quite a unique means to make extra money in a short period of time, It's called Matched Betting. It's a very simple process but it's imperative that you read the Guides in full before you begin. + +Matched Betting is where you use bookmaker sites to complete various 'Free Bet' offers (e.g Bet £10, Get £30 in Free bets), but the whole idea behind the process is that every time you "make a bet", you match that same bet on the exchange (meaning the value of your qualifying bet will always be returned to you). + +So for example, if I bet £10 for Real Madrid **to Win** on the Bookmaker Site at odds of 2.5, I then also make a Matched bet on the Exchange (This is a separate site such as Smarkets or Betfair) where I bet for Real Madrid **not to win** at odds of 2.5 (or as close as I can get to those odds). In this way, I am covered in all outcomes (win, lose or draw), and it allows me to fulfil the requirements of the bookmaker's offer (e.g Bet £10 and get £30 in Free bets). The money from my initial bet has now been returned to me and I also have a £30 free bet credited to my account. + +When I receive my £30 free bet, It's the same process of matching again but this time using my free bet on the bookmaker site. This is where I secure a profit, because I'm not using 'real money', and even if I lose on the bookmaker site, I will be paid out on the exchange. + +This one is great if you can spare some money to get started. Your money isn't 'invested' or 'tied up' in anything, It's just that you'll need cash in order to complete the various free bet offers. You can withdraw your money at any time, but most people leave £100-£200 in their accounts just because it's easier than depositing money every time you want to do an offer. Over the course of 30 days, that £100-£200 or so will grow to £600-£700. + +The main advantage of Matched Betting is that it really doesn't take a lot of time to hit that £500 profit mark. Over a 4 week period, I worked my way down through the list of welcome offers, nice and handy, and having completed 20 offers at 15 minutes per offer, I came out at **£470 for 5 hours total of work.** + +Not to knock paid projects/survey sites, but if you don't have the time or desire to invest in that kind of online work, the obvious advantage with Matched betting is speed and simplicity. + +EDIT: I've received a lot of messages asking for more resources on matched betting. For those interested, you can find the process explained in full detail in this [**Guide**](https://www.reddit.com/r/beermoneyuk/comments/wvr98r/a_guide_to_matched_betting_how_to_make_your_first/)**.** + +**NOTE:** If you have a history with gambling, do not come near Matched Betting. Matched Betting is not gambling, but the fact you will be using betting websites to facilitate a profit is too much of a temptation- It's not worth it. + +&#x200B; + +# + +# Part 3: Earning ~£150 from Referral Offers + +The offers below will allow you to earn a minimum of \~£150. This is a handy list if you need to earn a decent amount of money in a short amount of time. For a lot of these offers, you can withdraw the money you earn back to your bank account in the same day, but for a few of the offers, it will take longer. + +**Important:** In order to get the bonuses from the offers below, you will need to sign up to each app/site through a referral link. There is a subreddit called 'beermoneyuk' where you can find referral links for any of the below-mentioned offers by searching the subreddit for 'Zilch', 'Luno', 'Snoop' etc. and you'll find plenty of posts with referral links and more detailed steps on how to complete each of the offers below: + +&#x200B; + +Zilch **(£5):** Sign up through a referral link, Verify your ID and you will see 500 points (worth £5) appear in your account. + +Shares **(£5):** Sign up through a referral link and verify your ID. Deposit £1 and you will Instantly receive £5 which you can withdraw after 30 days. + +Snoop **(£5):** Sign up and link a bank account. After 28 days you will receive an amazon voucher by email worth £5. + +Luno **(£10)**: No referral link needed for this one, Just download the Luno app, sign up & verify ID (5 mins) and enter a BP code into the 'rewards' section of the app. You will instantly be credited with £10 BTC. Absolutely free, No Deposit or Purchase necessary. + +Monese **(£10)**: Deposit and spend £1 to receive £10 to your account. + +Monzo: **(£5)** Deposit and spend £1 to receive £5 to your account. + +Mode **(£10)**: You make a deposit of £20, buy £20 worth of Bitcoin, sell the £20 worth of Bitcoin back to GBP again and you get your £10 credited Instantly (It will show as pending and be available to withdraw in 24 hours). + +Blockchain **(£10):** You make a deposit of £20, buy £20 worth of Bitcoin, and you get your £10 credited Instantly. You can then sell everything back to GBP and withdraw your £10 bonus after 7 days. + +Cashapp **(£10):** Free £10 when you sign up through a referral link and send £5 to another Cashapp user (Someone you know who will send the £5 back to you). + +Wombat **(£20):** Sign up and open a general investment account, you will receive £20 for free. Invest your £20 and hold it for 90 days. + +Coinbase **(£27)**: No deposit or purchase needed, just go to the site and earn \~£15 by learning about different cryptocurrencies. Earn an additional £12 by signing up to the site through Quidco and making a single transaction. There is no minimum amount for this transaction, simply buy the smallest amount of a cryptocurrency that you can on Coinbase and you will be eligible for the cashback. + +Revolut **(£12):** Sign up to Revolut and go to the "learn" part of the crypto section of the app, you can earn around £12 for completing the cryptocurrency quizzes, which you can then convert to GBP and withdraw. + +Remitly: **(£23):** Make a transfer of £100 ( to yourself) and only pay £75, securing you a profit of around £23 after Remitly's transaction fees. + +Swissborg **(€1- €100):** Deposit £100/ €100, Don't buy anything. As soon as you make the deposit you will get a Reward Token, you 'scratch it' to reveal an amount between 1-100 euros in the app's currency, sell it back to euros/GBP and instantly withdraw your original deposit + Profit. + +&#x200B; + +&#x200B; + +And that's it, I hope this guide will be of help to some people, if you have any questions or suggestions don't be afraid to comment. + +Cheers +I am doing pretty well all things considered. 24, 60k invested, 70%+ savings rate. Thanks to a new job with salary increase, I have already reached my savings goal for the year. But my friend is really struggling right now. He has lost his job a la Covid. He needs money for school fees and he might have to go back home to another country if he doesn’t find the money in 2 weeks. No one is giving loans to international students. + +I have this money and he has no clue since I live so cheap. I could give it to him. It is only a couple of months of savings to me. If he doesn’t pay it back, I don’t know if I will resent him but it won’t hurt me practically. Right now, I could give him the money, no skin off my back, never see it again and I think it would be fine even friendshipwise. I would end the year with 5k less investments. + +But it would be stupid wouldn’t it? It is so much money. Maybe another year of work before retiring? I can’t believe I am even considering this. I am usually so selfish/super practical. + +EDIT: I am not planning to sell my investments. Just give some money instead of investing over the next couple of months. +Sorry if this is entirely irrelevant, but I just wanted somewhere to celebrate this achievement. It’s taken me the last year to pay off all of my debt which totalled around £8700 last September. + +This morning I paid off the final £475 of a bank loan I took out a few years ago which was £6850 when I made my first payment towards it at the end of October last year. + +This has felt at times like a day that would never come. I’ve had to make adjustments, postpone my ‘debt free’ date numerous times because of life getting in the way, but for the first time in a long time I can actually breathe freely without that weight on my chest. + +Next steps I’ve planned are as follows; + +Save up for Christmas shopping, and also save to pay my car insurance outright (due 21st December). After this I’m going to save up a £4000 emergency fund, then I’m going to save again and treat myself to a new car. For now though, I’ll be celebrating with a meal out this weekend with my girlfriend who has supported me through the highs and lows of the last year. + +Just wanted to finally say I did it. No debt to my name anymore. It feels like a never ending spiral staircase, but there IS a top and you CAN reach it! + +Thanks to everyone on this sub also for the incredible knowledge I’ve picked up whilst reading through many posts. You guys are awesome! + +Edit: A huge thank you to all of you leaving lovely comments, didn’t expect this post to gain so much traction at all! I’d reply individually but I’m currently at work and don’t have the time, so THANK YOU!!! +(Updated September 5th, 2020) + +&#x200B; + +\*Please note that I effective Sept. 14, 2020 I am deactivating my account. This post will remain as a public service; however, I will be unable to reply to further questions. + +There are two problems: + +1. I've contributed to other threads, particularly options, and I'm being downvoted on things that I am correct on by people who obviously don't know anything and are asking questions that are covered in any basic options tutorial, and then get upset when you point out they're wrong. +2. I've managed to attract some unsavoury attention by someone who is clearly trolling the threads and the mods aren't doing anything about it. + +&#x200B; + +There's a lot of good, smart, hard-working people here on Reddit but there are also a lot of trolls and people who are obviously very immature, and the mods clearly aren't doing their job. I can't participate in that. + +&#x200B; + +# Background + +&#x200B; + +**You may have heard about off-shore tax havens of questionable legality where wealthy people invest their money in legal "grey zones" and don't pay any tax, as featured for example, in Netflix's drama, The Laundromat.** + +&#x200B; + +**The reality is that the Government of Canada offers 100% tax-free investing throughout your life, with unlimited withdrawals of your contributions and profits, and no limits on how much you can make tax-free. There is also nothing to report to the Canada Revenue Agency. Although Britain has a comparable program, Canada is the only country in the world that offers tax-free investing with this level of power and flexibility.** + +&#x200B; + +Thank you fellow Redditors for the wonderful Gold Award and Today I Learned Award! + +&#x200B; + +(Unrelated but Important Note: I put a link at the bottom for my margin account explainer. Many people are interested in margin trading but don't understand the math behind margin accounts and cannot find an explanation. If you want to do margin, but don't know how, click on the link.) + +&#x200B; + +As a Gen-Xer, I wrote this post with Millennials in mind, many of whom are getting interested in investing in ETFs, individual stocks, and also my personal favourite, options. Your generation is uniquely positioned to take advantage of this extremely powerful program at a relatively young age. But whether you're in your 20's or your 90's, read on! + +&#x200B; + +Are TFSAs important? In 2020 Canadians have almost 1 trillion dollars saved up in their TFSAs, so if that doesn't prove that pennies add up to dollars, I don't know what does. The TFSA truly is the Great Canadian Tax Shelter. + +&#x200B; + +I will periodically be checking this and adding issues as they arise, to this post. I really appreciate that people are finding this useful. As this post is now fairly complete from a basic mechanics point of view, and some questions are already answered in this post, please be advised that at this stage I cannot respond to questions that are already covered here. If I do not respond to your post, check this post as I may have added the answer to the FAQs at the bottom. + +&#x200B; + +# How to Invest in Stocks + +&#x200B; + +A lot of people get really excited - for good reason - when they discover that the TFSA allows you to invest in stocks, tax free. I get questions about which stocks to buy. + +&#x200B; + +I have made some comments about that throughout this post, however; I can't comprehensively answer that question. Having said that, though, if you're interested in picking your own stocks and want to learn how, I recommmend starting with the following videos: + +&#x200B; + +The first is by Peter Lynch, a famous American investor in the 80's who wrote some well-respected books for the general public, like "One Up on Wall Street." The advice he gives is always valid, always works, and that never changes, even with 2020's technology, companies and AI: + +&#x200B; + +[https://www.youtube.com/watch?v=cRMpgaBv-U4&t=2256s](https://www.youtube.com/watch?v=cRMpgaBv-U4&t=2256s) + +&#x200B; + +&#x200B; + +The second is a recording of a university lecture given by investment legend Warren Buffett, who expounds on the same principles: + +&#x200B; + +[https://www.youtube.com/watch?v=2MHIcabnjrA](https://www.youtube.com/watch?v=2MHIcabnjrA) + +&#x200B; + +Please note that I have no connection to whomever posted the videos. + +&#x200B; + +# Introduction + +&#x200B; + +TFSAs were introduced in 2009 by Stephen Harper's government, to encourage Canadians to save. + +&#x200B; + +The effect of the TFSA is that ordinary Canadians don't pay any income or capital gains tax on their securities investments. + +&#x200B; + +Initial uptake was slow as the contribution rules take some getting used to, but over time the program became a smash hit with Canadians. There are about 20 million Canadians with TFSAs, so the uptake is about 70%- 80% (as you have to be the age of majority in your province/territory to open a TFSA). + +&#x200B; + +# Eligibility to Open a TFSA + +&#x200B; + +You must be a Canadian resident with a valid Social Insurance Number to open a TFSA. You must be at the voting age in the province in which you reside in order to open a TFSA, however contribution room begins to accumulate from the year in which you turned 18. You do not have to file a tax return to open a TFSA. You do not need to be a Canadian citizen to open and contribute to a TFSA. No minimum balance is required to open a TFSA. + +&#x200B; + +# Where you Can Open a TFSA + +&#x200B; + +There are hundreds of financial institutions in Canada that offer the TFSA. There is only one kind of TFSA; however, different institutions offer a different range of financial products. Here are some examples: + +&#x200B; + +* The Canadian big 5 bank branches and most other financial institutions offer a TFSA that allows you to buy mutual funds, hold cash, GICs, term deposits, and possibly ETFs. This is a good choice if you want guaranteed returns or diversified investing. +* There are a number of on-line banks such as Tangerine, Simplii Financial, Oaken Financial, and many more that offer the TFSA. +* The discount DIY brokerage arms of the big 5 banks give you more choices, including stocks, warrants, bonds and options. There are also standalone brokers like IBKR Canada, Questrade, Qtrade, and Virtual Brokers, among others, that offer this. +* Some brokerages and financial advisors also offer TFSAs that give you these investment choices, in different formats such as: + * Traditional brokerage, where a stockbroker invests your money (BMO Nesbitt Burns, RBC Dominion Securities and others) + * Financial advisor who will invest your money according to a plan you put together with the advisor (TSI Network and many others) + * "Robo" advisors such as Wealthsimple, RBC InvestEase, BMO SmartFolio, or Wealthbar + * BMO's AdviceDirect, which is a semi-directed hybrid between standalone DIY investing and fully-advised investing, where you operate on a DIY basis but have access to a registered investment advisor (a live person) who can give you suggetions and advice. + +&#x200B; + +# Insurance + +&#x200B; + +Your TFSA may be covered by either CIFP or CDIC insuranceor both. Ask your bank or broker for details. + +&#x200B; + +# What You Can Trade and Invest In + +&#x200B; + +You can trade the following: + +&#x200B; + +* GICs, mutual funds, term deposits +* individual common and preferred stocks listed on an "approved exchange" which are the TSX, TSX-V, NASDAQ, NYSE, and about 20 other exchanges worldwide, but not the US OTC pink sheets. +* stock-like securities like REITS, ETFs and ETNs, including 2x and 3x leveraged +* gold and silver certificates +* warrants +* cash of many countries (CAD/USD/EUR/GBP/AUD/NZD/JPY/CHF and many others) +* government debt of most countries, subsovereigns like Canadian provincial bonds, and debt of most corporations +* listed options (both calls and puts) on individual equities, and ETFs and ETNs that trade on the Montreal Exchange or various options exchanges in the USA (the main one being the Chicago Board Options Exchange) and the rest of the word (but see FAQ for details) +* gold, silver bullion certificates +* shares in certain private companies -- but consult your tax advisor on this + +&#x200B; + +# What You Cannot Trade + +&#x200B; + +You cannot trade: + +&#x200B; + +* futures, including commodity futures, and financial futures such as single stock, index, and interest rate futures +* options against futures +* contracts for difference (which are big in Europe and the U.K. but AFAIK either not allowed or in very limited usage in the USA and the Canadian provinces and territories) +* foreign exchange forward contracts (aka spot forex) +* option spread positions (see FAQ for details) +* crypto (bitcoin, ethereum etc.) +* collateralized debt obligations and related securities (e.g. mortgages packaged as tradeable securities) + +&#x200B; + +# Borrowing to Contribute + +You can borrow money to make your TFSA contributions, e.g. against a HELOC or personal line of credit, or other source of credit; obviously you are then obligated to pay back the lender. A TFSA is not a margin account, however, therefore you cannot borrow against securities in a TFSA. + +&#x200B; + +# Rules for Contribution Room + +&#x200B; + +Starting at 18 you get a certain amount of contribution room. + +&#x200B; + +According to the CRA: + +**You will accumulate TFSA contribution room for each year even if you do not file an Income Tax and Benefit Return or open a TFSA**. + +The annual TFSA dollar limit for the years **2009 to** **2012** was **$5,000**. + +The annual TFSA dollar limit for the years **2013** and **2014** was **$5,500**. + +The annual TFSA dollar limit for the year **2015** was **$10,000.** + +The annual TFSA dollar limit for the years **2016 to 2018** was **$5,500**. + +The annual TFSA dollar limit for the year **2019** is $**6,000**. + +The TFSA annual room limit will be indexed to inflation and rounded to the nearest $500. + +Investment income earned by, and changes in the value of TFSA investments will not affect your TFSA contribution room for the current or future years. + +&#x200B; + +[https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/tax-free-savings-account/contributions.html](https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/tax-free-savings-account/contributions.html) + +If you don't use the room, it accumulates indefinitely. + +&#x200B; + +Trades you make in a TFSA are truly tax free. But you cannot claim the dividend tax credit and you cannot claim losses in a TFSA against capital gains whether inside or outside of the TFSA. So do make money and don't lose money in a TFSA. You are stuck with the 15% withholding tax on U.S. dividend distributions unlike the RRSP, due to U.S. tax rules, but you do not pay any capital gains on sale of U.S. shares. + +&#x200B; + +You can withdraw \*both\* contributions \*and\* capital gains, no matter how much, at any time, without penalty. The amount of the withdrawal (contributions+gains) converts into contribution room in the \*next\* calendar year. So if you put the withdrawn funds back in the same calendar year you take them out, that burns up your total accumulated contribution room to the extent of the amount that you re-contribute in the same calendar year. + +&#x200B; + +# Examples + +&#x200B; + +E.g. Say you turned 18 in 2016 in Alberta where the age of majority is 18. It is now sometime in 2020. You have never contributed to a TFSA. You now have $5,500+$5,500+$5,500+$6,000+$6,000 = $28,500 of room in 2020. In 2020 you manage to put $20,000 in to your TFSA and you buy Canadian Megacorp common shares. You now have $8,500 of room remaining in 2020. + +&#x200B; + +Sometime in 2021 - it doesn't matter when in 2021 - your shares go to $100K due to the success of the Canadian Megacorp. You also have $6,000 worth of room for 2021 as set by the government. You therefore have $8,500 carried over from 2020+$6,000 = $14,500 of room in 2021. + +&#x200B; + +In 2021 you sell the shares and pull out the $100K. This amount is tax-free and does not even have to be reported. You can do whatever you want with it. + +&#x200B; + +But: if you put it back in 2021 you will over-contribute by $100,000 - $14,500 = $85,500 and incur a penalty. + +&#x200B; + +But if you wait until 2022 you will have $14,500 unused contribution room carried forward from 2021, another $6,000 for 2022, and $100,000 carried forward from the withdrawal 2021, so in 2022 you will have $14,500+$6,000+$100,000 = $120,500 of contribution room. + +&#x200B; + +This means that if you choose, you can put the $100,000 back in in 2022 tax-free and still have $20,500 left over. If you do not put the money back in 2021, then in 2022 you will have $120,500+$6,000 = $126,500 of contribution room. + +&#x200B; + +There is no age limit on how old you can be to contribute, no limit on how much money you can make in the TFSA, and if you do not use the room it keeps carrying forward forever. + +&#x200B; + +Just remember the following formula: + +&#x200B; + +This year's contribution room = (A) unused contribution room carried forward from last year + (B) contribution room provided by the government for this year + (C) total withdrawals from last year. + +&#x200B; + +EXAMPLE 1: + +&#x200B; + +Say in 2020 you never contributed to a TFSA but you were 18 in 2009. + +You have $69,500 of unused room (see above) in 2020 which accumulated from 2009-2020. + +In 2020 you contribute $50,000, leaving $19,500 contribution room unused for 2020. You buy $50,000 worth of stock. The next day, also in 2020, the stock doubles and it's worth $100,000. Also in 2020 you sell the stock and withdraw $100,000, tax-free. + +&#x200B; + +You continue to trade stocks within your TFSA, and hopefully grow your TFSA in 2020, but you make no further contributions or withdrawals in 2020. + +&#x200B; + +&#x200B; + +The question is, How much room will you have in 2021? + +Answer: In the year 2021, the following applies: + +(A) Unused contribution room carried forward from last year, 2020: $19,500 + +(B) Contribution room provided by government for this year, 2021: $6,000 + +(C) Total withdrawals from last year, 2020: $100,000 + +&#x200B; + +Total contribution room for 2021 = $19,500+6,000+100,000 = $125,500. + +&#x200B; + +EXAMPLE 2: + +Say between 2020 and 2021 you decided to buy a tax-free car (well you're still stuck with the GST/PST/HST/QST but you get the picture) so you went to the dealer and spent $25,000 of the $100,000 you withdrew in 2020. You now have a car and $75,000 still burning a hole in your pocket. Say in early 2021 you re-contribute the $75,000 you still have left over, to your TFSA. However, in mid-2021 you suddenly need $75,000 because of an emergency so you pull the $75,000 back out. But then a few weeks later, it turns out that for whatever reason you don't need it after all so you decide to put the $75,000 back into the TFSA, also in 2021. You continue to trade inside your TFSA but make no further withdrawals or contributions. + +&#x200B; + +How much room will you have in 2022? + +Answer: In the year 2022, the following applies: + +&#x200B; + +(A) Unused contribution room carried forward from last year, 2021: $125,500 - $75,000 - $75,000 = -$24,500. + +&#x200B; + +Already you have a problem. You have over-contributed in 2021. You will be assessed a penalty on the over-contribution! (penalty = 1% a month). + +&#x200B; + +But if you waited until 2022 to re-contribute the $75,000 you pulled out for the emergency..... + +&#x200B; + +In the year 2022, the following would apply: + +(A) Unused contribution room carried forward from last year, 2021: $125,500 -$75,000 =$50,500. + +(B) Contribution room provided by government for this year, 2022: $6,000 + +(C) Total withdrawals from last year, 2020: $75,000 + +&#x200B; + +Total contribution room for 2022 = $50,500 + $6,000 + $75,000 = $131,500. + +...And...re-contributing that $75,000 that was left over from your 2021 emergency that didn't materialize, you still have $131,500-$75,000 = $56,500 of contribution room left in 2022. + +&#x200B; + +# + +For a more comprehensive discussion, please see the CRA info link below. + +# FAQs That Have Arisen in the Discussion and Other Potential Questions: + +&#x200B; + +&#x200B; + +1. United States citizens who are resident in Canada: U.S. citizens residing in Canada are in a unique situation because the U.S. taxes on the basis of citizenship, whereas Canada taxes on the basis of residency. Also, the TFSA is not treated by the Canada-U.S. tax treaty in the same way as the RRSP. Because of the way these rules impact on your personal circumstances, it may or may not be advisable for you to open a TFSA. Do not rely on advice randomly given on Reddit for this. Consult with a tax lawyer or accountant for advice. +2. Equity and ETF/ETN Options in a TFSA: can I get leverage? Yes. Options are an excellent way to get high leverage in a TFSA. You can buy puts and calls in your TFSA and you only need to have the cash to pay the premium and broker commissions. Example: if XYZ is trading at $70, and you want to buy the $90 call with 6 months to expiration, and the call is trading at $2.50, you only need to have $250 in your account, per option contract, and if you are dealing with BMO IL for example you need $9.95 + $1.25/contract which is what they charge in commission. Of course, any profits on closing your position are tax-free. You only need the full value of the strike in your account if you want to exercise your option instead of selling it. Please note: this is not meant to be an options tutorial; see the Montreal Exchange's Equity Options Reference Manual if you have questions on how options work. +3. Equity and ETF/ETN Options in a TFSA: what is ok and not ok? Long puts and calls are allowed. Covered calls are allowed, but cash-secured puts are not allowed. All other option trades are also not allowed. Basically the rule is, if the trade is not a covered call and it either requires being short an option or short the stock, you can't do it in a TFSA. +4. Live in a province where the voting age is 19 so I can't open a TFSA until I'm 19, when does my contribution room begin? Your contribution room begins to accumulate at 18, so if you live in province where the age of majority is 19, you'll get the room carried forward from the year you turned 18. +5. If I turn 18 on December 31, do I get the contribution room just for that day or for the whole year? The whole year. +6. Do commissions paid on share transactions count as withdrawals? Unfortunately, no. If you contribute $2,000 cash and you buy $1,975 worth of stock and pay $25 in commission, the $25 does not count as a withdrawal. It is the same as if you lost money in the TFSA. +7. How much room do I have? If your broker records are complete, you can do a spreadsheet. The other thing you can do is call the CRA and they will tell you. +8. TFSA-->TFSA direct transfer from one institution to another: this has no impact on your contributions or withdrawals as it counts as neither. +9. More than 1 TFSA: you can have as many as you want but your total contribution room does not increase or decrease depending on how many accounts you have. +10. Withdrawals that convert into contribution room in the next year. Do they carry forward indefinitely if not used in the next year? Answer :yes. +11. Do I have to declare my profits, withdrawals and contributions? No. Your bank or broker interfaces directly with the CRA on this. There are no declarations to make. +12. Risky investments - smart? In a TFSA you want always to make money, because you pay no tax, and you want never to lose money, because you cannot claim the loss against your income from your job. If in year X you have $5,000 of contribution room and put it into a TFSA and buy Canadian Speculative Corp. and due to the failure of the Canadian Speculative Corp. it goes to zero, two things happen. One, you burn up that contribution room and you have to wait until next year for the government to give you more room. Two, you can't claim the $5,000 loss against your employment income or investment income or capital gains like you could in a non-registered account. So remember Buffett's rule #1: Do not lose money. Rule #2 being don't forget the first rule. TFSA's are absolutely tailor-made for Graham-Buffett value investing or for diversified ETF or mutual fund investing, but you don't want to buy a lot of small specs because you don't get the tax loss. +13. Moving to/from Canada/residency. You must be a resident of Canada and 18 years old with a valid SIN to open a TFSA. Consult your tax advisor on whether your circumstances make you a resident for tax purposes. Since 2009, your TFSA contribution room accumulates every year, if at any time in the calendar year you are 18 years of age or older and a resident of Canada. Note: If you move to another country, you can STILL trade your TFSA online from your other country and keep making money within the account tax-free. You can withdraw money and **Canada** will not tax you. But you have to get tax advice in your country as to what they do. There restrictions on contributions for non-residents. See "non residents of Canada:" [https://www.canada.ca/content/dam/cra-arc/formspubs/pub/rc4466/rc4466-19e.pdf](https://www.canada.ca/content/dam/cra-arc/formspubs/pub/rc4466/rc4466-19e.pdf) +14. The U.S. withholding tax. Dividends paid by U.S.-domiciled companies are subject to a 15% U.S. withholding tax. Your broker does this automatically at the time of the dividend payment. So if your stock pays a $100 USD dividend, you only get $85 USD in your broker account and in your statement the broker will have a note saying 15% U.S. withholding tax. I do not know under what circumstances if any it is possible to get the withheld amount. Normally it is not, but consult a tax professional. +15. The U.S. withholding tax does not apply to capital gains. So if you buy $5,000 USD worth of Apple and sell it for $7,000 USD, you get the full $2,000 USD gain automatically. +16. Tax-Free Leverage. Leverage in the TFSA is effectively equal to your tax rate \* the capital gains inclusion rate because you're not paying tax. So if you're paying 25% on average in income tax, and the capital gains contribution rate is 50%, the TFSA is like having 12.5%, no margin call leverage costing you 0% and that also doesn't magnify your losses. +17. Margin accounts. These accounts allow you to borrow money from your broker to buy stocks. TFSAs are not margin accounts. Nothing stopping you from borrowing from other sources (such as borrowing cash against your stocks in an actual margin account, or borrowing cash against your house in a HELOC or borrowing cash against your promise to pay it back as in a personal LOC) to fund a TFSA if that is your decision, bearing in mind the risks, but a TFSA is not a margin account. Consider options if you want leverage that you can use in a TFSA, without borrowing money. +18. Dividend Tax Credit on Canadian Companies. Remember, dividends paid into the TFSA are not eligible to be claimed for the credit, on the rationale that you already got a tax break. +19. FX risk. The CRA allows you to contribute and withdraw foreign currency from the TFSA but the contribution/withdrawal accounting is done in CAD. So if you contribute $10,000 USD into your TFSA and withdraw $15,000 USD, and the CAD is trading at 70 cents USD when you contribute and $80 cents USD when you withdraw, the CRA will treat it as if you contributed $14,285.71 CAD and withdrew $18,75.00 CAD. +20. OTC (over-the-counter stocks). You can only buy stocks if they are listed on an approved exchange ("approved exchange" = TSX, TSX-V, NYSE, NASDAQ and about 25 or so others). The U.S. pink sheets "over-the-counter" market is an example of a place where you can buy stocks, that is not an approved exchange, therefore you can't buy these penny stocks. I have however read that the CRA make an exception for a stock traded over the counter if it has a dual listing on an approved exchange. You should check that with a tax lawyer or accountant though. +21. The RRSP. This is another great tax shelter. Tax shelters in Canada are either **deferrals** or in a few cases - such as the TFSA - outright tax breaks, The RRSP is an example of a deferral. The RRSP allows you to deduct your contributions from your income, which the TFSA does not allow. This deduction is a huge advantage if you earn a lot of money. The RRSP has tax consequences for withdrawing money whereas the TFSA does not. Withdrawals from the RRSP are taxable whereas they are obviously not in a TFSA. You probably want to start out with a TFSA and maintain and grow that all your life. It is a good idea to start contributing to an RRSP when you start working because you get the tax deduction, and then you can use the amount of the deduction to contribute to your TFSA. There are certain rules that claw back your annual contribution room into an RRSP if you contribute to a pension. See your tax advisor. +22. Pensions. If I contribute to a pension does that claw back my TFSA contribution room or otherwise affect my TFSA in any way? Answer: No. +23. The $10K contribution limit for 2015. This was PM Harper's pledge. In 2015 the Conservative government changed the rules to make the annual government allowance $10,000 per year forever. Note: withdrawals still converted into contribution room in the following year - that did not change. When the Liberals came into power they switched the program back for 2016 to the original Harper rules and have kept the original Harper rules since then. That is why there is the $10,000 anomaly of 2015. The original Harper rules (which, again, are in effect now) called for $500 increments to the annual government allowance as and when required to keep up with inflation, based on the BofC's Consumer Price Index (CPI). Under the new Harper rules, it would have been $10,000 flat forever. Which you prefer depends on your politics but the TFSA program is massively popular with Canadians. Assuming 1.6% annual CPI inflation then the annual contribution room will hit $10,000 in 2052 under the present rules. Note: the Bank of Canada does an excellent and informative job of explaining inflation and the CPI at their website. +24. Losses in a TFSA - you cannot claim a loss in a TFSA against income. So in a TFSA you always want to make money and never want to lose money. A few ppl here have asked if you are losing money on your position in a TFSA can you transfer it in-kind to a cash account and claim the loss. I would expect no as I cannot see how in view of the fact that TFSA losses can't be claimed, that the adjusted cost base would somehow be the cost paid in the TFSA. But I'm not a tax lawyer/accountant. You should consult a tax professional. +25. Transfers in-kind to the TFSA and the the superficial loss rule. You can transfer securities (shares etc.) "in-kind," meaning, directly, from an unregistered account to the TFSA. If you do that, the CRA considers that you "disposed" of, meaning, equivalent to having sold, the shares in the unregistered account and then re-purchased them at the same price in the TFSA. The CRA considers that you did this even though the broker transfers the shares directly in the the TFSA. The superficial loss rule, which means that you cannot claim a loss for a security re-purchased within 30 days of sale, applies. So if you buy something for $20 in your unregistered account, and it's trading for $25 when you transfer it in-kind into the TFSA, then you have a deemed disposition with a capital gain of $5. But it doesn't work the other way around due to the superficial loss rule. If you buy it for $20 in the unregistered account, and it's trading at $15 when you transfer it in-kind into the TFSA, the superficial loss rule prevents you from claiming the loss because it is treated as having been sold in the unregistered account and immediately bought back in the TFSA. +26. Day trading/swing trading. It is possible for the CRA to try to tax your TFSA on the basis of "advantage." The one reported decision I'm aware of (emphasis on I'm aware of) is from B.C. where a woman was doing "swap transactions" in her TFSA which were not explicitly disallowed but the court rules that they were an "advantage" in certain years and liable to taxation. Swaps were subsequently banned. I'm not sure what a swap is exactly but it's not that someone who is simply making contributions according to the above rules would run afoul of. The CRA from what I understand doesn't care how much money you make in the TFSA, they care how you made it. So if you're logged on to your broker 40 hours a week and trading all day every day they might take the position that you found a way to work a job 40 hours a week and not pay any tax on the money you make, which they would argue is an "advantage," although there are arguments against that. This is not legal advice, just information. +27. The U.S. Roth IRA. This is a U.S. retirement savings tax shelter that is superficially similar to the TFSA but it has a number of limitations, including lack of cumulative contribution room, no ability for withdrawals to convert into contribution room in the following year, complex rules on who is eligible to contribute, limits on how much you can invest based on your income, income cutoffs on whether you can even use the Roth IRA at all, age limits that govern when and to what extent you can use it, and strict restrictions on reasons to withdraw funds prior to retirement (withdrawals prior to retirement can only be used to pay for private medical insurance, unpaid medical bills, adoption/childbirth expenses, certain educational expenses). The TFSA is totally unlike the Roth IRA in that it has none of these restrictions, therefore, the Roth IRA is not in any reasonable sense a valid comparison. The TFSA was modeled after the U.K. Investment Savings Account, which is the only comparable program to the TFSA. +28. The UK Investment Savings Account. This is what the TFSA was based off of. Main difference is that the UK uses a 20,000 pound annual contribution allowance, use-it-or-lose-it. There are several different flavours of ISA, and some do have a limited recontribution feature but not to the extent of the TFSA. +29. Is it smart to overcontribute to buy a really hot stock and just pay the 1% a month overcontribution penalty? If the CRA believes you made the overcontribution deliberately the penalty is 100% of the gains on the overcontribution, meaning, you can keep the overcontribution, or the loss, but the CRA takes the profit. +30. Speculative stocks-- are they ok? There is no such thing as a "speculative stock." That term is not used by the CRA. Either the stock trades on an approved exchange or it doesn't. So if a really blue chip stock, the most stable company in the world, trades on an exchange that is not approved, you can't buy it in a TFSA. If a really speculative gold mining stock in Busang, Indonesia that has gone through the roof due to reports of enormous amounts of gold, but their geologist somehow just mysteriously fell out of a helicopter into the jungle and maybe there's no gold there at all, but it trades on an approved exchange, it is fine to buy it in a TFSA. Of course the risk of whether it turns out to be a good investment or not, is on you. + +Remember, you're working for your money anyway, so if you can get free money from the government -- you should take it! Follow the rules because Canadians have ended up with a tax bill for not understanding the TFSA rules. + +Appreciate the feedback everyone. Glad this basic post has been useful for many. The CRA does a good job of explaining TFSAs in detail at [https://www.canada.ca/content/dam/cra-arc/formspubs/pub/rc4466/rc4466-19e.pdf](https://www.canada.ca/content/dam/cra-arc/formspubs/pub/rc4466/rc4466-19e.pdf) + +&#x200B; + +# Unrelated but of Interest: The Margin Account + +# + +**Note: if you are interested in how margin accounts work, I refer you to my post on margin accounts, where I use a straightforward explanation of the math behind margin accounts to try and give readers the confidence that they understand this powerful leveraging tool.** + +&#x200B; + +## [How Margin Loans Work - a Primer](https://www.reddit.com/r/CanadianInvestor/comments/hbskjb/how_margin_loans_work_a_primer/) + + +This is it folks. Cryptocurrency is dead. Everything you saw up to this point was a complete joke. Satoshi started BTC way back in 2009 and it was pretty shocking when he hosted SNL last weekend, but this is the world we live in. + +Seriously, how many crashes do you need to see to know that there’s utility in cryptocurrency? Escrow is being replaced, expensive lawyers are getting put down, P2P solutions are available for everything, and there’s even solutions for the unbanked. + +Oh yeah, and some room for our favorite, **memecoins.** + +It’s outrageous to try to take down something that has a life of its own, so don’t worry about the power trips of a few elites who can’t stand up to the wave that BTC has brought on. If China can’t stop crypto, you think some dipshit CEO can? + +Altseason is still well underway and no traditional finance bros will be the ones to stop crypto, it will only be crypto that stops crypto. Once you understand that, you’ll understand just how comfy it truly is out here. + +Saturna has from conception been one of the most prolific coins raising **to a crazy $110M market cap in just four days** before the recent news slammed it back down. As we recover, expect the **40,000 holders** to rally back in, FOMO buying the dip (as we’re already starting to see with people waking up across the world) and setting the momentum back on track. + +If you think that one week in this project is just tapering off, you’ll unfortunately just plainly be wrong. Any coin with real development behind it has mooned time and time again and it’s clearer and clearer, especially with **today’s AMA**, that this team has smart direction and has executed quickly on its plans. + +Saturna is where you want to be if you’re still planning on never being a wagie again. But there’s not much more time to catch the dip so don’t waste another minute. + +Website - [https://saturna.co/](https://saturna.co/) + +PancakeSwap - [https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x1e446CbEa52BAdeB614FBe4Ab7610F737995fB44](https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x1e446CbEa52BAdeB614FBe4Ab7610F737995fB44) + + +This is it folks. Cryptocurrency is dead. Everything you saw up to this point was a complete joke. Satoshi started BTC way back in 2009 and it was pretty shocking when he hosted SNL last weekend, but this is the world we live in. + +Seriously, how many crashes do you need to see to know that there’s utility in cryptocurrency? Escrow is being replaced, expensive lawyers are getting put down, P2P solutions are available for everything, and there’s even solutions for the unbanked. + +Oh yeah, and some room for our favorite, **memecoins.** + +It’s outrageous to try to take down something that has a life of its own, so don’t worry about the power trips of a few elites who can’t stand up to the wave that BTC has brought on. If China can’t stop crypto, you think some dipshit CEO can? + +Altseason is still well underway and no traditional finance bros will be the ones to stop crypto, it will only be crypto that stops crypto. Once you understand that, you’ll understand just how comfy it truly is out here. + +Saturna has from conception been one of the most prolific coins raising **to a crazy $110M market cap in just four days** before the recent news slammed it back down. As we recover, expect the **40,000 holders** to rally back in, FOMO buying the dip (as we’re already starting to see with people waking up across the world) and setting the momentum back on track. + +If you think that one week in this project is just tapering off, you’ll unfortunately just plainly be wrong. Any coin with real development behind it has mooned time and time again and it’s clearer and clearer, especially with **today’s AMA**, that this team has smart direction and has executed quickly on its plans. + +Saturna is where you want to be if you’re still planning on never being a wagie again. But there’s not much more time to catch the dip so don’t waste another minute. + +Website - [https://saturna.co/](https://saturna.co/) + +PancakeSwap - [https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x1e446CbEa52BAdeB614FBe4Ab7610F737995fB44](https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x1e446CbEa52BAdeB614FBe4Ab7610F737995fB44) +Robinhood may seem like the quick and easy way to buy stocks but they are against you! + +On January 28th, they did not allow people to buy more shares; they only allowed people to sell. They were about to default so they turned off the buy button and shorted the stock in order to drop the price. Go back and look at the ticker for January-February: $483 > $43. The law enforcement agency of the stock market, the SEC, has gone on record stating this as fact. + +When Dog Crypto had its run up in April, they did this same tactic 3 more times. They will do it again! + +The best companies are Fidelity or Computershare. Yes, they take a couple days to get an account but it’s okay, we’ll wait. We’re saving you a seat. We’ve waited 9+ months already. The squeeze won’t happen all in one day. But don’t wait too long because we’re in ~90 day cycle and the price is going to start rising again over the next couple weeks. + +This is for CYA purposes only—>I am not a financial advisor and this is all my own opinion. + +EDIT: For people transferring from Robinhood to another broker, I'm quoting u/AMKoochie "Keep record of your cost basis. RH has not been purchasing shares. So they end up stuck purchasing share now for whatever price they are forced to buy at now. + +Once those shares make their way over, keep an eye on your cost basis. It most likely won't show up for a week or 2, but when it eventually does show up you may see a difference of hundreds or even thousands of dollars. Many many people have. + +It's helpful for tax purposes as well as evidence of fraud." + +ALSO EDIT: You are loved and I want the best for you. + +EDIT III: A lot of questions on how to transfer out of RH to a new broker. When I did it months ago, I setup an account with Fidelity then called them. They are so used to this request that it's super easy for them to do. They handle the rest for you by putting in a request to your old broker. I think there used to be a DD for this with phone numbers. I can't seem to find it so if someone does, I will add it to this edit. +I think most people have seen those comparison that if you’re make a certain amount, you’re top percent in the world. + +I recently saw that $32,400 per year puts you at top 1% income in the world. + +Should we really use these numbers as a basis to justify people who complain about their wages? After all, everything also costs more in the US. For instance, for a family of 3, making $21000 a year is considered poverty but at the same time, take that to some 3rd world country and you’re living in luxury. +Go to any youtube stock stream and play back to 9:30-ish and watch from there. You can find one that shows the full NBBO tape. + +This morning we saw a controlled pump & dump from opening bell to trigger a downward halt and create panic and headroom for OTC maneuvers. + +How they "hacked" the VWAP / LULD: + +The LULD is triggeres when the price moves away from the **average price**. +When the stock surges straight from open, that won't trigger the circuit breakers because the volume weighted average price is going up at nearly the same rate as the trading price. + +**BUT THEN** they drop it 5% on less volume, this means the stock price falls significantly below the average price, enough to trigger a downwards halt and spread fear and panic (obviously GME investors are immune to fear at this point but whatever). + +Notice the dip finishes and the halt starts at **exactly** the same price point as the morning pump begins. + +The fact that they did the same thing with popcorn at the same time means that this was a derivatives/ETF maneuver to the concentrated short basket. No wonder XRT short interest is sitting at 441% again. + +SEC, wake the fuck up. This is plain and obvious manipulation out in the open and if the regulators do not react to this event, it will prove beyond doubt that they are complicit in crime. This is my opinion. + +I encourage everyone to file a complaint at the SEC, DOJ, FBI, and the Financial Ombudsman. + +____________ +**EDIT**: I went and watched the tape from this morning again. It's so fucking obvious. + +- One minute after open, price hits 182.5x and starts going up up up fast. + +- Price goes up to nearly miss 200 and then goes down down down. + +- Halt starts at 182.6x - seriously you can't tell me this is not planned and executed market manipulation + +**EDIT 2** Check this out. Look at the asks and the tape just before the halt!! It's uncanny! Tens of thousands of shares being sold at *EXACTLY 182.79*!! As soon as ONE SINGLE FUCKING SHARE ORDER goes through at 182.62, the halt starts..... + +THEY KNEW EXACTLY WHEN THE HALT WAS GOING TO START. + +Straight up planned collusion. Popcorn too, same story + +**EDIT 3:** go to a stock stream with lvl 2 data. Rewind to 9:37:30 and watch the asks build up at 182.79 + +It's obvious that a lot of people know that this is where you get off before the halt. + +**EDIT 4:** this is the ask side at 9:37:55 + +>200 @ 182.79 on AMEX + +>1000 @ 182.79 on ARCA + +>1800 @ 182.79 on BATS + +>13,700 @ 182.79 on BYX + +>7000 @ 182.79 on DRCTEDGE (mayo man) + +>17,100 @ 182.79 on EDGEA (also mayo man) + +>400 @ 182.79 on IEX + +>100@ 182.79 on MEMX + +>2000@ 182.79 on NSDQ + +>3900@ 182.79 on NSDQ + +>5000 @ 182.79 on NYSE + +That's OVER 50,000 shares going for 182.79 !!? +Am I supposed to believe that this is a coincidence?? "Free market"!? LMAYO. + +Aight I'm out for now. Good night everyone. Stay sharp. Moass tomorrow 😉 +**Holy shit at the money people spend on food!** + +And I was the exact same way when I landed my first job out of college. You know what I'm talking about--biscuit and Starbucks on the way to work, lunch out with coworkers and pizza and beer at the local tavern for dinner! Every night! All week! Professional money spender! And more beers and dinners on the weekends! Woohoo! + +Wait. Where did all my money go? And how the hell did I gain 40 pounds in six months? If you're nodding your head you've fallen into the brand-new-job-big-salary-eat-out-because-I-can trap. And you have to stop it. It's killing your bank account, it's killing your financial freedom and it's killing *you*. (Literally--I was on the edge of type 2 diabetes and had hyperglycemia during routine physicals.) + +**What you know you need to do: *STOP EATING OUT*** + +But how??? How do I stop eating out??? Fast food is *soooo* good! And cooking is *soooo* hard! Well, first off, not really--you're just attuned to that garbage 'food'. You're going to break free of both these stereotypes and someone has already invented it..... + +>Crockpot. It's the crockpot. Crockpot. Crockpot. Maybe you call it a slow cooker, but I'm from Georgia and here it's a crockpot. + +***!STOP!***--If you do not own a crockpot I highly recommend you go buy one from Amazon and buy the biggest one you can afford! + +Get one with a timer that switches to warm after the cook settings: *JUST GOOGLE IT CAUSE MODS DONT LIKE LINKS!* + +**BOOM!** $39 investment. We're going to make that back in.... *three days*. Are you ready? We're going to make enough food for dinner *AND* left overs for lunch. + +I'm going to give you some of my super-secret-I-eat-this-every-week-crockpot-meals that are delicious, cheap, filling and easy. Yes. The crockpot makes *all* of those possible. + +**MEAL 1: Thick Cut Porkchop with Potatoes and Carrots** + +>Servings: 4 + +>Ingredients: + +>1 Can Beef Broth (50 cents) + +>1 Packet Brown Gravy Mix (50 cents) + +>1 Packet Onion Soup Mix (50 cents) + +>1 Package of 4 Thick Cut Porkchops ($7) + +>6 Carrots (50 cents) + +>4 Large Gold Yukon Potatoes ($2) + +>Sack o' Salad ($2) + +>Total cost for lunch and dinner: $13/4 about $3 each. + +>Spray or wipe crockpot with cooking oil. Add beef broth, gravy mix and onion soup mix and stir. Place porkchops in broth. Chop carrots and potatoes and add to top of porkchops. That's it. + +>PREPARE THIS BEFORE YOU GO TO BED FOR THE NEXT DAY! Put it in the refrigerator and pull it out in the morning. Cook on low for 8 hours. When you get home make your salad and dig in. Use the left overs for lunches and/or dinner for during the week. + +**MEAL 2: Sausage, Potato and Kale Soup** +>Servings: 4 + +>1 Pound Italian Sausage ($4) + +>1 White Onion ($1) + +>1 32 Oz Box of Chicken Stock ($1.50) + +>1 Bag of Prewashed Kale ($3) + +>3/4 Cup Heavy Cream ($1) + +>5 Large Gold Yukon Potatoes ($2) + +>1 Head of Garlic ($1) + +>Total cost: About $14/4 = 3.50 a serving + +>Brown italian sausage with chopped garlic and chopped onion. While meat is browning add to crockpot the 3/4 cup of heavy cream, chicken stock, and chopped yukon potatoes. Add browned sausage and top with half the bag of kale. (I get two recipes per bag of kale). + +>PREPARE THIS BEFORE YOU GO TO BED FOR THE NEXT DAY! Put it in the refrigerator and pull it out in the morning. Cook on low for 8 hours. When you get home dig in! Use the left overs for lunches and/or dinner for during the week. + +**MEAL 3: Super Awesome Easy Chili** +>Servings: A Lot (6-8?) -- I eat this *all* the time and it's delicious. Stores really well in the refrigerator (and chili gets better over time!) + +>3 Cans of Black Beans ($2) + +>2 Cans of Hot Chili Beans ($1) + +>2 Cans of Red Kidney Beans ($1) + +>8 Cans of Diced Tomatoes ($6) + +>1 Pound of Ground Beef ($4) + +>1/2 Cup of Chili Powder ($1) + +>1/4 Cup of Garlic Powder ($1) + +>1/4 Cup of Onion Powder ($1) + +>3 Tablespoons of Cumin ($1) + +>3 Tablespoons Black Pepper ($1) + +>Edit: The spice proportions are correct! This makes nearly two gallons of good (about 7L). + +>Edit: Salt to Taste($1) + +>Total cost = $20/8 = About $2.50 per serving + +>Drain the tomatoes and kidney beans but don't drain the black or chili beans. Brown the ground beef. Add everything to the crockpot and stir like crazy.... and that's it! + +>PREPARE THIS BEFORE YOU GO TO BED FOR THE NEXT DAY! Put it in the refrigerator and pull it out in the morning. Cook on low for 8 hours. When you get home dig in! Use the left overs for lunches and/or dinner for during the week. + + +It's easy guys. It's really easy. You spend 15 minutes a night and you make *tons* of food for lunch and dinner and you save a LOT of money! AND ITS GOOD FOR YOU! (better than Wendy's--that's for sure!) AND ITS EASY! + +**Stop spending your money on eating out and go full crockpot! I am much happier and much wealthier!** + +EDIT: For our vegetarian friends. You can't get any more simple than this! + +**MEAL 4: Baked Potato** +>Servings: As many potatoes as you bake + +>1 Potato + +>Cover in tin foil and place directly in crockpot. Cook on low 4-6 hours or keep on warm all day. + + +**MEAL 5: Vegetable Soup** +>Servings: However much you want to make + +>Tomatoes, Potatoes, Green Beans, Zucchini, Carrots, Peas, or Onions + +>Vegetable Stock + +>Onion Powder, Garlic Powder, Salt and Black Pepper + +>Add vegetables in any proportion you desire to crockpot and add vegetable stock until covered. Season to taste. Cook on low until vegetables are tender. + +EDIT 2: I live in Georgia and shop at Kroger--prices may vary. If you live in Canadia or buy organic free range vegetables harvested by hipsters with a minimum of a master's degree you will obviously pay more. + +EDIT 3: "Just learn to cook!"--Yeah, okay guys. I agree. I cook more than just in a crockpot. This post was inspired after I read a /r/personalfinance about a single guy who spends $1300 a month on food because "he didn't have enough time to cook with work". I wrote a very long comment and just made it into a post. The point was you can eat decent food in a short amount of time and save money by planning one day ahead. + +EDIT 4: I agree fresh vegetables are better and these aren't the *healthiest* recipes. This post was just to encourage those that eat all the time to transition to something healthier... and then they can transition to something even healthier... and on and on until they've become a raw vegan, growing their own vegetables, saving the whales and composting regularly. + +EDIT 5: Electricity costs: Crockpots seem to consume between 200W and 700W per hour. That's between 2 and 6 kWhs for 8 hours of cooking. That's about 15 to 60 cents. It seems insignificant relative to the overall cost of food. + +EDIT 6: I'm not a shill or marketing person for crockpot. I'm a mechanical engineer. Don't believe me? My first post on reddit ever was about bolt failures: https://www.reddit.com/r/spacex/comments/3e20vs/bolt_failure_modes/ctatj1y/ + +Take off your tin foil hat..... and use it to wrap a baked potato to put in your *new crockpot!!!* +I live in a third world country and even 2 dollars a day can definitely change my life in a long run. but i can't do most of the surveys since they usually require KYC. are those games that give you crypto for playing actually work? i even couldn't withdraw my BAT earned with Brave since it also needs KYC. + +Edit: Thank you everyone for the suggestions! you all have my upvotes. + +Edit2: Man I've been upvoting and answering you guys for the past hour or something i think! thank you all so much you helped me a lot! i wanted to continue but it's 23:15 here i have to sleep and wake up early. + +I'll continue upvoting everyone tomorrow! agian, thank you all! +Hey is anyone in here a millionaire or ever made a million dollars? What’s your advice on how to make a million dollars? Obviously I could just save my money for a long time and have a million in like 25 years or longer but what’s advice on how to make a million dollars in like 10 years? I’m 25 years old and am 6 months in to electrician apprentice +For some products I imagine attracting customers early on works. For instance to get them into your product ecosystem, like Apple. + +For a restaurant.. People who eat at a discount are also less likely to spend more on other products. So is it then just a way to fill more tables? Or is something else at play? +I recently have been watching this youtube channel for a month now and I just saw some threads from last year in bad economics saying how he just spreads misinformation here and there, but I just want to know how you guys think of him now. What do you guys think of him now? Because to be honest I kinda enjoyed his videos because it is well made in the sense of its editing and productions are of high quality. Do his contents are of high quality as much as his production values of his videos? +I'm a dummy when it comes to economics. This is just a question that popped up in my head, maybe this is the right place to ask. + +Grateful for answers and clarification. +This isn‘t normal behavior in the stock market! + +Remember when the Coca Cola stock dumped like 2% because CR7 removed some Coca Cola bottles from his table in front of a camera during a press release, implying that Coca Cola is unhelathy for an athlete like him? Yeah so that was shitty news and the consequence was that the stock dumped a couple of dollars. + +Now what’s happening with GME is that, a ton of people are direct registering their shares, constantly buying stock, fucking herds of people outside of Gamestop stores waiting in line to get their hand on a new console or whatever, filled stores with customers and most importantly NO BAD NEWS whatsoever and still the stock dumps like 35% in a matter of two weeks from 250$ to 160$!!! + +This just confirms my (our) thesis that the stock still gets heavily manipulated and kenny trust me i‘m just going to buy drs and hodl even more, as a matter of fact i just bought 4 more you dumb fuck. The MOASS is happening whether u like it or not!! + +BUY HODL DRS +🚨🚀🚨🚀🚨 + +Edit: No I‘m not suicidal nor have i the intention of harming myself, but thanks for looking out for me. +Misses works part time, was considering a full time job. It looks like full time child care would total 85% of what her income would be. + +So what’s the point in both parents working full time if this is the case. It’s abit odd to me that parents who don’t work get their childcare mostly paid for ? +Sorry if this is entirely irrelevant, but I just wanted somewhere to celebrate this achievement. It’s taken me the last year to pay off all of my debt which totalled around £8700 last September. + +This morning I paid off the final £475 of a bank loan I took out a few years ago which was £6850 when I made my first payment towards it at the end of October last year. + +This has felt at times like a day that would never come. I’ve had to make adjustments, postpone my ‘debt free’ date numerous times because of life getting in the way, but for the first time in a long time I can actually breathe freely without that weight on my chest. + +Next steps I’ve planned are as follows; + +Save up for Christmas shopping, and also save to pay my car insurance outright (due 21st December). After this I’m going to save up a £4000 emergency fund, then I’m going to save again and treat myself to a new car. For now though, I’ll be celebrating with a meal out this weekend with my girlfriend who has supported me through the highs and lows of the last year. + +Just wanted to finally say I did it. No debt to my name anymore. It feels like a never ending spiral staircase, but there IS a top and you CAN reach it! + +Thanks to everyone on this sub also for the incredible knowledge I’ve picked up whilst reading through many posts. You guys are awesome! + +Edit: A huge thank you to all of you leaving lovely comments, didn’t expect this post to gain so much traction at all! I’d reply individually but I’m currently at work and don’t have the time, so THANK YOU!!! +As of 2018, statista reported that there are over 28 billion Blockchain wallets. This clearly shows just how cryptocurrencies have taken the world by storm. Thanks to the many cryptocurrencies and exchanges available out there, crypto enthusiasts can now travel, spend, and earn cryptocurrencies almost anywhere from their Blockchain wallets. However, there is a catch. + +Unless you have access to a reliable exchange with support for the most useful cryptocurrencies and a superb customer care, spending or earning crypto can be a little tricky. In fact, even having the most popular crypto assets is not enough. + +There are just too many unreliable and unsecure crypto apps and exchanges. For instance, reports indicate over 980,000 Bitcoins have so far been stolen from exchanges. Other reports indicate that over 50 percent of exchanges and crypto apps are unsecure. Additionally, even the most secure exchanges and crypto app resources have failed to entice crypto enthusiasts as they have no significant rewards yet that makes mad profits from stored tokens on their platforms. Furthermore, the issue of high transaction costs and increasing network congestion especially with top crypto assets is something we cannot avoid. + +One concept that we are very fond of is the +concept of being climate positive. At Poseidon, +we see a product or service as being climate +positive when at least 110% of the carbon +emissions are offset using carbon credits. +Assume a particular pair of shoes is responsible +for 20kg of carbon emissions. If you purchase +this pair of shoes and at the same time purchase +22kg of carbon credit from Poseidon, you have +effectively turned the purchase climate positive +as you ensure the continued sequestration of +more carbon dioxide than the pair of shoes has +caused. +We advocate this concept to all our clients, and +while it is not mandatory, we are proud to say +that every of our conversations showed that +being climate positive is the right way forward. +By making every purchase climate positive, we +more than account for the environmental +carbon dioxide stress of our lifestyle choices +and do our part to reverse climate change. +Compliance and +voluntary markets +The compliance market is a global market that +is the result of the Kyoto Protocol and the Paris +Agreement, both part of the United Nations +Framework Convention on Climate Change +(UNFCCC). The challenge with the compliance +market is that there is no unified regulation and +that even within countries there are multiple +regulatory frameworks that are so incompatible +that trading amongst them is challenging and +in some cases not possible. This is one of the +many reasons why carbon markets have not yet +reached their required scale. +Voluntary markets allow everyone to participate +in them, be it a government, corporation or an +individual. Voluntary carbon credits allow the +support of any qualifying emissions reductions +project around the world and can be bought +anywhere in the world. Poseidon focuses on +voluntary markets as we believe only these can +scale quickly and globally, create a unified +market that can trade across borders, and +establish a single price for a ton of carbon +credit that will allow this market to grow to the +size nature needs it to be. + +One concept that we are very fond of is the +concept of being climate positive. At Poseidon, +we see a product or service as being climate +positive when at least 110% of the carbon +emissions are offset using carbon credits. +Assume a particular pair of shoes is responsible +for 20kg of carbon emissions. If you purchase +this pair of shoes and at the same time purchase +22kg of carbon credit from Poseidon, you have +effectively turned the purchase climate positive +as you ensure the continued sequestration of +more carbon dioxide than the pair of shoes has +caused. +We advocate this concept to all our clients, and +while it is not mandatory, we are proud to say +that every of our conversations showed that +being climate positive is the right way forward. +By making every purchase climate positive, we +more than account for the environmental +carbon dioxide stress of our lifestyle choices +and do our part to reverse climate change. +Compliance and +voluntary markets +The compliance market is a global market that +is the result of the Kyoto Protocol and the Paris +Agreement, both part of the United Nations +Framework Convention on Climate Change +(UNFCCC). The challenge with the compliance +market is that there is no unified regulation and +that even within countries there are multiple +regulatory frameworks that are so incompatible +that trading amongst them is challenging and +in some cases not possible. This is one of the +many reasons why carbon markets have not yet +reached their required scale. +Voluntary markets allow everyone to participate +in them, be it a government, corporation or an +individual. Voluntary carbon credits allow the +support of any qualifying emissions reductions +project around the world and can be bought +anywhere in the world. Poseidon focuses on +voluntary markets as we believe only these can +scale quickly and globally, create a unified +market that can trade across borders, and +establish a single price for a ton of carbon +credit that will allow this market to grow to the +size nature needs it to be. +Have natural resources - check + +Having an educated population - check + +Being able to create complex technologies with high added value - check + +My country (Brazil) lacks an educated population and high value-added technology, so I understand it to be poor. But Russia, has a Soviet legacy of industry and a population skilled in technology, see the war and space capabilities they have, in addition to some national car brands. So it tortures me that Australia has 1/6 of the population but six times the GDP per capita. It makes no sense. +I've read that Marxism has fallen so out of favor in economics that there are few, if any economists who take it seriously. + +I'm not a Marxist if for no other reason than it requires the discredited labor theory of value, but Marx did make some amazing predictions, including the mass displacement of workers by technology (and yes, I know he dropped the ball on a number of others—he should have taken Malthus seriously). + +Perhaps a better question would be, "what place, if any, does Marx have in economics today other than as a historical curiosity?" +# The GameStop Reddit + +If you’re looking for the GameStop Reddit, you’ve come to the right place. r/superstonk is a one stop shop for all things GameStop. Financial news about GME, updates on GameStop Earnings, and discussions on the upcoming short squeeze. + +r/superstonk’s over 500,000 members have cemented this subreddit as the GameStop destination addressing questions like… + +- GameStop Stock manipulation? 👍🏽 + +- [What is Direct Registered Shares otherwise known as DRS?](https://www.reddit.com/r/Superstonk/comments/ptvaka/when_you_wish_upon_a_star_a_complete_guide_to/?utm_source=share&amp;amp;amp;amp;amp;amp;amp;amp;amp;utm_medium=ios_app&amp;amp;amp;amp;amp;amp;amp;amp;amp;utm_name=iossmf) ✅ + +- What is ComputerShare? 💫 + +- Do I own my GameStop Shares? 🙋 + +- [The GameStop x Immutable Partnership](https://www.reddit.com/r/Superstonk/comments/sjhi6f/gamestop_forms_partnership_with_immutable_x/?utm_source=share&amp;amp;amp;amp;amp;amp;amp;amp;amp;utm_medium=ios_app&amp;amp;amp;amp;amp;amp;amp;amp;amp;utm_name=iossmf) 🤝 + +- Was GameStop Stock Manipulated? 😡 + +- What are synthetic or phantom shares? 😶‍🌫️ + +- What is naked short selling? 😳 + +- Why is GameStops Stock Still High Reddit? 💨 + +- Why are Reddit users buying GameStop? 💰 + +- Is it Too Late to Buy GameStop? 👎🏼 + +Learn the story of GameStop Chairman Ryan Cohen, Keith Gill also known as DFV, and hedge fund manipulation to suppress the worlds best Gaming company. + +Dive deep into our GameStop Reddit r/superstonk and learn about the Immutable X partnership, NFT marketplace, and future of Gaming as we know it. Get a better understanding of how Loopring, Immutable, GameStop, and other potential mega partnerships are creating the next phase of human connectivity. + +## Information on GameStop 👈🏽 + +The answer lies inside of r/superstonk. Be sure to check out our [GME Daily Discussion](https://www.reddit.com/r/Superstonk/comments/spuz09/gme_daily_discussion_new_to_the_sub_start_here/?utm_source=share&amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;utm_medium=ios_app&amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;utm_name=iossmf), the [Beginners Guide to GME](https://www.reddit.com/r/Superstonk/comments/njwv6n/the_gme_masters_guide_a_dd_campaign_for_apes/?utm_source=share&amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;utm_medium=ios_app&amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;utm_name=iossmf), and the [GameStop Due Diligence Library](https://fliphtml5.com/bookcase/kosyg) for more information on all the above. + +Start by exploring our subreddit’s “About” and “Menu” section. And If you have any questions, feel free to reach out to any 🦍 , we welcome all. + + +——————————- + +Don’t forget to Buy, Hold, DRS, and support the best company in the world. 💎 🙌🏽 + +This is not financial advice, I just like the stock. + +TLDR Read my comment + +Edit* [MOMMA WE MADE IT!](https://www.reddit.com/r/Superstonk/comments/sq5our/we_did_it_stop_search_result_for_the_term_were/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) + +Edit* +I also eat crayons and paint water color paintings with my wee wee +Hi all, + +My boyfriend and I recently saw a townhouse in Irvine, California that we thought may be a good investment property. The listing price is $760,000 with $299/month HOA fees and has 2 bedrooms / 2.5 bathrooms. We'd occupy one of the bedrooms (for approximately 3 years), and ideally rent out the other room for a minimum of $1,500/month. After both of us move out, we'd (again, ideally) rent out the full townhouse for a minimum of $4,000/month. After doing calculations, it doesn't appear that we'd breakeven on monthly rental cash flow (note this is from estimating $5,175 monthly payments including mortgage principal + interest for 30-year fixed rate loan at 6%, HOA fees, homeowner insurance, property taxes, utilities) and we'd likely still have to cover a portion of monthly costs, but we believe the property will appreciate due to the coveted neighborhood (abundant amenities, close to airport and SoCal beaches, safe neighborhood, some of the best public schools in the country). Our plan would be to eventually cash-out refinance to purchase another property (and lower that interest rate..). Is this the right move for us, and does it make sense to purchase an investment property that doesn't cash flow but may appreciate quickly? + +Here are a few things to note: + +* We're both first-time home buyers so we'll take any advice we can get! +* My boyfriend's yearly salary is $130,000 and mines is $85,000 - we don't have any debt, have enough money for a minimum 20% down payment, have an emergency savings fund, and regularly contribute to 401Ks as well as max out both of our Roth IRAs. +* We can see this townhouse potentially being our "starter home" for a few years down the line before having kids +Hey, first time posting here. Hope this post will be ok. + +This is problematic in regards to personal information discretion, but my issue is: + +I realized I'm being significantly underpaid in comparison to others who do the same work as me. + +I feel frustrated and upset about that fact. Not sure how to approach from here. + +How would you approach the situation? + +--- + +**EDIT 1:** Thanks for all the answers. There are many good ones in-between! + +There are also a few that clearly want to see the world burn 😅 + +I had never expected this many replies, so please don't hold it against me for not answering each one of you. + +--- + +**RESULT:** + +First off. Again, thank you to all of you, who pitched in with your personal experiences, hardships, concerns, and advice. I have read through most of all ~2000 of them 😅 + +I have chosen to simply delete and bury the faulty email, and I will add a bit about being careful to not forward email-chains in our security newsletter this month instead. This way it will benefit everyone in the company to be wary of forwarding email-chains. The WHOLE chain will be forwarded. + +I had a sit-down with the boss-man, and he agreed to give me a raise, and a promotion. +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 +I mean I have a book for 10 bucks which means I just need 2k people to buy it. How can I promote my book? I don't even want to be a best-seller or anything just need $20k.. +I know this sounds like a stupid question but I'm trying to understand more nuance in the history of economics. Growing up, and on most of the internet, Capitalism has rarely ever been defined, and more just put in contrast to something like Communism. I am asking for a semi-complete definition of what exactly Capitalism is and means. + +A quick search leads you to some simple answers like private ownership of goods and properties along with Individual trade and commerce. But hasn't this by and large always been the case in human society? Ancient Romans owned land and goods. You could go up to an apple seller and haggle a price for apples. What exactly about Capitalism makes it relatively new and different? + +Thank you, +Saturday I was at work at the grocery store. At the end of my shift my boss comes by and thanks me for helping him find mistakes in the inventory a bit earlier. I go along well with my boss, he's cool and jokes easily so I just go like "yeah you know I've become aware that this place can't function without me. My services are about to become more expensive, you pay me $7.50 but I'm more like a $9.00 employee". It was just a joke and I thought he would laugh it off but he goes "you know, you're not wrong, I'll think about it". An hour ago at the end of today's shift he told me that I would now be paid $9.25/hr. I really wasn't expecting it! As you can imagine I'm very happy about it, this is a big pay bump for me! So nice to see my hard work (and stupid jokes) recognized for once. +I am 21 and I'm getting into investing, definitely leaning towards being a long term value investor. I am currently reading up on investing through books and websites like investopedia and I also noticed this reddit community being fairly serious and helpful. + +More context, I am ready to start investing and I know the fundamentals. I have 10k saved up and I have a pretty stable minimum wage job on the side, while also studying. + +So I was wondering how you guys make your DD. Obviously I'm not looking to copy and paste methods, but I'd like some ideas and inspiration to be able to analyse a company/stock by myself and create my own method. You can also refer me to links, videos and other resources. + +Any and all help is appreciated! + +Edit: I'm blown away by the response and I'd like to thank all of you. Looks like I have a lot of reading and learning to do and I'm excited. Again thanks for every response I have read them all, though I can't respond to them all +Bought 3225 units of SCHD last month. + +&#x200B; + +https://preview.redd.it/z1prb7mmba9a1.png?width=557&format=png&auto=webp&s=1e92187f1caafa0ac8599ecbc9ed4a2a8c6eb518 + +As per tipranks dividend calculator, if I don't contribute anything and drip for the next 20 years at 7% share price increase per year and 10% dividend growth, the initial investment will result in 1870% in total return with $900k in annual dividend payment. + +&#x200B; + +https://preview.redd.it/zt8w2r3mda9a1.png?width=1052&format=png&auto=webp&s=1a8624eb852909f684795fca5443e138adcf2912 +There are only 21 Million Bitcoin that will ever exist. Currently there are only 18.5 Mil in circulation. Of this, 4 million bitcoin are considered unrecoverable bringing the supply down to 14.5 Mil. Of the bitcoin that is mined everyday, that entire supply is bought by Greyscale alone. With other companies adding bitcoin to their balance sheet, thousands of bitcoins are being accumulated by the day lowering the amount in circulation even more. In the coming months and years we will start to see financial institutions buying bitcoin to provide financial serves such as ETFs and derivative products. + +There is literally not enough bitcoin for everyone to go around. It is an asset in high demand and very little supply. The days of being able to afford 1 bitcoin is already over for the middle class. The days for the middle class not being able to afford 0.1 Bitcoin is coming. + +If you have the privilege of owning 1 BTC, you are blessed. If you have ANY amount of BTC you are blessed. Anyone that is considering selling their bitcoin to take some profits then think again. Big institutions are sitting there WAITING to steal it from you. This currency was made for us little guys, not them. If you sell your bitcoin then you don't deserve to be apart of this market. You are taking a gift and giving it to the people who want to control you. Whether Bitcoin goes to 1Mil a coin or zero, keeping control of this currency is all that matters. Bitcoin is not just about money, it's a movement. It allows us to have a voice in an unfair system where we are controlled by the elite few. It allows us to say that we choose to NOT participate in your game. Bitcoin is power, and to give up the power you have to the powerful is sad. Remember the reason you originally bought, and no matter how high bitcoin goes, remember the reason we HODL. This will be a bumpy ride and I wish you all the best. +41yo single male - just hit $3.2M in net worth today. + +Honestly, none of it was by design - kind of fell into it. A lot of it came from tech - and I was only able to benefit because I very randomly became connected to a group of people who pulled me along with them. + +I'm pretty good at my job, but I try not to kid myself that that's the only driver. I've gotten where I have through luck and the kindness of others. I do my best to try and pay that forward. + +Looking back on it all, the key is to be a good egg. It's important to be smart and good at your job -- it's just as important to be kind. That's what allows you to build relationships that create opportunities. + +It's all just very, very humbling.... still trying to process.... + +&#x200B; + +\---------------------------------------------------------------------------------------------------------------------------------------------------- + +**Age 29 (moved to US to do an MBA at Wharton):** + +* I moved to the US about 11 years ago - at the height of the financial crisis - to attend business school (MBA at Wharton). +* Could not afford it by myself - my starting salary in a 3rd World country was $7K/year, although I'd built it up to $40K/year over an 8-year period. +* Wharton gave me a 40% scholarship and then I basically cashed in all my savings ($50K) and took a loan in order to afford it. +* Was fortunate enough to get a job offer that sponsored my H-1B (work visa). + +&#x200B; + +**Age 31 (graduated Wharton, joined McKinsey): -$80K net worth due to school debt.** + +* Was able to land a job at McKinsey & Company -- starting salary of $120K +* Based out of Atlanta -- unlike my colleagues in NYC or SF, able to save 50% of my after-tax salary with low rent etc. When on projects, we expensed meals and stuff - so never spent the bulk of my salary beyond loan repayments. +* Maxed out retirement contributions to a proprietary McKinsey fund, although I mostly just invested in US equities using index funds +* Didn't really invest in shares beyond S&P 500 index funds because of McKinsey restrictions on trading shares (it was possible, but just complicated) + +&#x200B; + +**Age 35 (left McKinsey, went to an SF non-profit):** **$400K net worth** + +* Net worth mostly from the retirement funds, the balance was in selected shares (US equities) +* Eventually received my green card sponsored by McKinsey - and was like "Adios!" +* Decided to do more non-profit work and joined tech non-profit in the SF Bay Area. Took a 33% paycut as well as the increase in cost of living -- my rent basically doubled from $1.6K/month in Atlanta to $3.2K/month in SF). Did not regret it. +* Decided I wanted to eventually buy an apartment in SF and spent two years saving - also made the decision to not invest in my 401(k) at the non-profit (and forego the match) - in order to save about $200K for a downpayment. + +&#x200B; + +**Age 37 (left non-profit, bought an apartment, moved to for-profit tech):** **$500K in net worth** + +* Bought a small apartment in SF - extremely cash poor. Decided to take my time furnishing it -- took about 3 years because I didn't want to take on any debt. Had to borrow a little bit from family to finish buying the apartment - paid them back in two years. Mortgage was about $550K. +* Left non-profit for a tech for-profit company. Was recruited by a friend from the original non-profit at a Director level. Salary went up to $180K with about $40-50K in RSUs. +* I'd spend about $5K/month on living expenses (mortgage, HOA, food, etc.) - and save the rest (after paying back family for down payment help). I'd save about $2-3K /month - and invested heavily in cloud computing stocks. (Reference the Bessemer Venture Partners index for info there.) +* Also re-started investing in my 401(k) with matching, took advantage of ESOS and other schemes. + +&#x200B; + +**Age 38 (acquisition by another tech company): $800K in net worth** + +* Our company got acquired in an all-stock deal -- the acquiring company's shares became like a rocket ship and jumped up 3-4x +* Salary was $220K, so was saving as much as I could (apart from some family support that I'd send back home -- as my dad was getting older) -- but most of the increase in net worth came from equity (about an additional $400K/year in RSUs) +* Apartment also added about $100K in value over price appreciation +* Personal expenses hadn't really changed - apart from food and the occasional travel, it was a pretty simple life. I like to read and since public libraries have online book collections.... my Amazon expenses have gone way down... +* Gave sister $50K for a downpayment for an apartment. I sold some equity to do it - swallowed the tax bill. + +&#x200B; + +**Age 40 (poached to 3rd tech company): $1.2M in net worth** + +* Some friends at the original tech company that got acquired became the C-suite at another company... their mandate was to take the company public +* They poached me - and offered comp of $275K and equity but obviously no guarantees that it would amount to anything +* It was a leap of faith - I was turning down this known rocket ship at the 2nd tech company where I was highly valued and that I know would have delivered about $2-3M in equity over 3 years. But I trusted my friends and decided to join them. +* Personal expenses hadn't really changed +* Because COVID had hit - I gave my brother $50K in family support, but otherwise saving the rest of my salary. + +&#x200B; + +**Age 41 (IPO): $3.2M in net worth** + +* About 1 year later, we actually did IPO! Ton of work to get it IPO ready, and very proud of our team. +* Ironically enough, we IPO'd before I hit my 1-year cliff - just hit it 2 days ago and had $2M in equity (mix of ISOs and double-triggered RSUs) transfer to my account. +* No real change to expenses - and because of tax and insider trading implications I can't liquidate it just yet. + +&#x200B; + +**What happens next?** + +* I still have 3 more years to go with the company - if I hold on then that's another $2M/year in equity (lots of assumptions are embedded into that) +* Eventually, I'll have to decide when to get off the hedonic hamster wheel. Depending on share price - will happen over the next 1-3 years. I don't exactly have a retirement number but somewhere between $5M - 10M? +* It's a little surreal, but I've had to appoint wealth advisors and accountants (no more TurboTax!) to manage my investment portfolio and taxes. +* I'm conscious of avoiding lifestyle creep - I'll probably sell my apartment and buy a single-family home in SF (allocating $1.5M-2.5M for it) - but apart from that will have a very simple life. Focus will be on health and wellness, spending time with my loved ones, maybe settling down with a partner, and going back to more mission-driven work. +Welcome to the Community Discussion thread of r/EthTrader. + +This thread is a place for community meta discussion - to learn or make suggestions for how community members could be better served. Donuts are a welcome topic here as is non-donut related discussion. + +[Earn donuts for providing uniswap liquidity on the DONUT-ETH pair](https://cloudflare-ipfs.com/ipfs/QmajDWDWim8r6muJP1DgFysEAiWVYFf5spw9itY5MgX24W): 100k donuts distributed each week. + +[How to register for Donuts](https://www.reddit.com/r/ethtrader/wiki/donuts/how_to_register) + +[Previous Community Discussion](/r/ethtrader/comments/hcjo38/community_discussion/). +Throwaway account, but hope to be more active here now that I can be anonymous. I’ve posted a couple times to my personal account that were well received and popular, but I ended up deleting because I was nervous about anonymity. + +31, married, no children, LCOL. + +Told my wife tonight that we became millionaires today... she said, “Ok” then proceeded to reheat leftover pasta while I celebrated with a protein shake. + +I thought this was pretty humorous and don’t really have any close confidants to share with, so hopefully you all can help me celebrate! + +Cheers! +So it basically does nothing unless congress forgives that tax. It will be due next year and owing Uncle Sam money is worse than owing money to the mob. Save it in a separate account where you can’t access it easily with an automatic transfer when you get paid. + +Out of sight out of mind. +I'm finding it quite difficult to find good analysis of the UK market/UK shares to invest in. + +For the US, there's Mad Money (taken with a pinch of salt, but provides useful overview of market trends, etc.), and a load of Motley Fool podcasts and analysts on Fintwit to discuss with, and I've done well out of my entirely US based portfolio so far. + +However I want to invest more in UK listed shares, particularly as the £ strengthens against the $. + +What equivalent sources of information for the UK market do people use? + +I know Motley Fool have a UK service but I don't find it nearly as good as the US one. Most of their articles are very clickbaity ('My top three multibaggers' etc.) and lack the more rigorous analysis of their US counterpart. + +Any pointers would be gratefully received! + +Thanks in advance, +I've seen some stocks recently that have blown up over night and I've started to wonder how people figure that out? I know it requires research and everything, but where would I begin with that? + +Any type of advice or direction to go would be very helpful. I've seen alot of talk about stocktwits, but I have no idea how to use the app correctly yet or who to even follow on there. +My neighbour's husband recently passed away unexpectedly. I witnessed how his demise opened the floodgates of troubles in their life, particularly for his wife. It broke my heart. + +His wife has been a traditional homemaker. Aunty has always been a joyful and giving woman but her entire life came to a standstill after his death. Their daughter was supposed to start college this year, but this misfortunate circumstance has changed their life. Both of them were completely clueless about their household finances and financial liabilities. + +**It hit me hard when I realised that there is no way under any law to find out information regarding a deceased person's assets, policies, properties, investments and funds even by their successors unless they are already equipped with this information. It's a scavenger hunt after that.** + +She asked me for help since I work in consulting. I was disheartened when I came to know she has never visited a bank and had no clue about any of his current or savings accounts, policies, or investments. He never shared any relevant details with her. She confided that he was a loving and dutiful husband. Their marriage was traditional where her responsibility was to manage the family and he was to manage the finance and outside responsibilities. While he sometimes discussed but never shared any exact details. + +Now she feels completely handicapped. Between handling crematory responsibilities, and dealing with guests to day-to-day expenses she exhausted all the funds she had with her. She had no clue about any documentation and paperwork. Witnessing their struggle to access their own claims and funds, facing financial responsibilities while dealing with the loss & trauma has been exhausting, even for me. + +**I too had never shared the actual details about my bank accounts & investments with my parents.** In our family, while we discuss finances very openly, my father still hasn't shared all details. + +It is crucial to discuss and share household and personal finances with family, in detail. It is alarmingly essential to be open and inclusive about your finances with your loved ones. + +**Most women in India who are between their 40-60's were married to men older than them. They were not allowed opportunities or the privileges to be financially independent. They were conditioned to not involve themselves in matters of business and finance. Women also tend to live longer than men. These women will be faced with similar circumstances in the last years of their lives unless they are actively equipped.** + +Further, in India, parents also seldom share their true financial circumstances and decisions with their children and vice-versa. I realised that in a society where survival means protecting self-interests from very early on, the head of the family or anyone in any position of power is so deeply engaged in managing responsibilities & safeguarding their interests that they rarely trust others with it. + +Sudden death in the family can lead to a complete breakdown of stability for the family. + +It is truly sad that in a lifetime, we aren't being able to say the most important things to the people that matter the most. + +I wonder how truly big this problem is. + +**Do you/your parents have open conversations about your finances with your family? If not, why?** + +**Have you discussed the details of funds, assets, and policies in detail with your family? How do you do it? In an excel sheet?** +[Feds Seized Robinhood CEO's Phone in GameStop Trading Halt Investigation (vice.com)](https://www.vice.com/en/article/wx5p8z/feds-seized-robinhood-ceos-phone-in-gamestop-trading-halt-investigation) + +Looks like Vlad is feeling some heat right now! Maybe another 12M for clients and 58M for the lawyers...... /s + +In its filing, Robinhood states that the fallout from these restrictions still have the potential to be disastrous for the company. “We have become aware of approximately 50 putative class actions … relating to the Early 2021 Trading Restrictions. The complaints generally allege breach of contract, breach of the implied covenant of good faith and fair dealing, negligence, breach of fiduciary duty and other common law claims. Several complaints further allege federal securities claims, federal and state antitrust claims and certain state consumer protection claims based on similar factual allegations,” the S-1 states. + + +The best part: + + The company said that the incident was bad for the company and “resulted in negative media attention, customer dissatisfaction, litigation and regulatory and U.S. Congressional inquiries and investigations, capital raising by us in order to lift the trading restrictions while remaining in compliance with our net capital and deposit requirements and reputational harm. ***We cannot assure that similar events will not occur in the future.”*** + +If this last statement is not a sign to get out of Robbing the Hood, I don't know what would. +I don't know if someone else here can relate. But after hitting my number I started enjoying much more of the free things I couldn't do while I was too busy making money. Playing chess, going for a swim in the ocean, going for a hike, walking my dog, cooking. About 99% of things I enjoy the most now are free. And they have always been free but I just couldn't enjoy them much before because for some reason I was always feeling guilty about not being rich enough or something. +Hey all, I recently created a basic stock screening file based on the intelligent investor. I was a bit surprised to find a few big names there, but one that really stuck me was Intel. +Is it really a bargain rn in term of Graham? And within his principles +Curious if any of you are "all-in" in saving/investing as much as possible or if you have a spending outlet/hobby to keep a healthy balance. + +For me, it's golf. Unfortunately, it's an expensive hobby, but I'm not willing to give it up over the next 15 years for a couple added years of financial independence. Luckily, I can keep all my other expenses in relatively check and still save a decent chunk of my salary (~50-60%). +[https://nyti.ms/2RakMyO](https://nyti.ms/2RakMyO) + +# I Quit New York + +Cameron Carling, 38, left to pursue a dream life in Costa Rica. Then he quit that, too. + +**Interview by** **Alex Williams** + +**Jan. 20, 2020** + +I moved to New York in 2007 from Los Angeles, where I had been living after college at U.C.L.A. You show up in New York for a week in September, and you’re like, This is the most magical goddamned place on the planet. This is where all of the things are happening in the world. + +I had no job, and figured that New York would just provide for me, and it nearly didn’t. I was on the verge of running out of borrowed money when I landed a job at a huge tech company via a temp agency. That turned into a full-time gig, and I ended up working there for 11 years. + +I met my wife, Marcella, two weeks after I arrived, at a party. New York was awesome as a couple with no kids. We would go to outdoor movies in Bryant Park, see the symphony in Central Park. + +But after a decade or so, I started to burn out. Part of it was that my wife and I had two kids and we were living in an 1,100-square-foot apartment in Brooklyn. It’s a common refrain, but trying to raise a kid in New York is like growing an oak tree in a thimble. + +Also, I’m originally from Utah, and wanted to be closer to nature, but in New York it’s hard to find a tree that’s not growing out of cement. One day I was out on a terrace at work and listening to the hum of the city, and it just felt so unnatural. + +“Menacing” is too harsh a word, but it’s this hum of anxiety. Everyone is so tense, so hunched. Even the cars feel hunched. I thought, I’ve got to get out of here. + +A buddy of mine had already given me a book called “Tools of Titans,” and that got me into the FIRE movement. It stands for Financial Independence, Retire Early. The idea is that you learn to cut out luxuries and extra expenses and try to boost your personal savings rate as high as 70 percent of your income. + +There’s this concept called geo-arbitrage, where you take your savings and move to a place with a lower cost of living. + +My wife had always wanted to live abroad, so I started running the numbers. If we moved to a cheaper country, I thought I could just retire, and we’ll all be happy. I could write a book. + +My wife speaks Spanish, and wanted our kids to learn it as well, so Spain was one option. We went on a fact-finding trip to Granada and Valencia, but life there rhymed too closely with New York. We’d still be living in an apartment building, in a city. It was New York with an accent. + +We figured we couldn’t look at every single country, so let’s just zero in on one. Costa Rica comes up on the list of everyone’s favorite places to vacation. It’s beautiful, there’s tons of outdoors stuff, and it has good international schools, which became sort of the tail wagging the dog for us. + +The whole family went down there on spring break and ended up in a town called Playa Potrero. It had this great view of the ocean, and you could hear howler monkeys in the jungle. You get swept up by the beauty of it. Also, it is very New York opposite. There’s one road. + +My wife was an elementary schoolteacher, but she took time off for the kids, and was just working part-time. She loves New York and was hesitant, but she felt outnumbered. She felt everybody needed more space. + +For the most part she was trying to support me on this I’ve-got-to-get-out-of-here mission. I was in this mind-set of, I’m never going to work for a company again, so I put in notice at work, and then it was a mad dash to start packing up our lives. + +We moved to Costa Rica in June 2018. Soon after we got there, Marcella took a job teaching first grade at the dual-language school our kids went to. So we did a swap. I became what they call an “amo de casa,” a house husband. + +We ended up spending a little more on housing than we wanted to. We knew people who lived a little more rustically, with no washer, dryer, no air-conditioning. You can get that for $300 a month. + +But we didn’t know how long we were going to be down there and we wanted to land in a good spot. So we rented a modern two-bedroom place on the beach. It was $3,000 a month, but it had a pool, and we would open up the gates to the backyard, and that was the sand. + +I took about three months to decompress, but I realized pretty quickly, I couldn’t retire. This is insane. I’ve worked all my life. I get a lot of joy and fulfillment by creating things. + +And so, I started writing a book with a friend of mine back in Utah who wanted to adapt his podcast into a book. That was an interesting part of the move. I was 38 and just starting out as a writer. + +People said you can’t do that, it’s too hard. But moving to a new country was this way to uproot some of these limiting beliefs, the idea that you can’t just go and do something totally different. Sure you can. + +So I was writing the book, but my full-time job was mostly taking care of the house and grocery shopping. I had this very silly, not-real vision of riding my bike to the store and filling up my little basket with fruits and vegetables, but in reality, the roads are obscenely dangerous. + +There’s so much rain that they’re designed with a drop-off of three feet on either side for drainage, and everyone uses the same road — and when I say everyone, I mean cars, people on foot, people on bikes, dogs. You try going down the road and all of a sudden a cow appears out of nowhere. + +We ended up having to buy a car, a big Toyota S.U.V., but you pay at least 50 percent more for a car there than you would in the United States, because of all the taxes. + +The nice thing about the town was that there was a very intense, small-town feel, so breaking into the expat community was not super-difficult. But we were looking for an integrated experience, and it was much harder to break into the local community. + +I tried to volunteer a couple of times, but my Spanish wasn’t up to snuff. Also, my wife has always been more the social connector, and I’m the introvert who can sit inside all day long. But she was working full-time, so we were in the wrong roles. + +Our kids loved it there, and probably would have stayed forever, but we already knew by about three or four months that it wasn’t the right place for us. That December, we took a weekend trip to see the Arenal volcano, and I was like, This is going to be great, we’re going to go out into nature. + +We were staying at this random Airbnb, this giant place like a furniture showroom way out in the middle of nowhere, and there was a bat in the ceiling that was making all this noise. I had just tried to hack a coconut in half with a dull machete and almost cut my toe off, and it was like, All right, what are we doing? + +We were already planning to head back to New York for the winter break, and when we got there I met up with a former colleague of mine at my old company, and she was setting up a new team in Austin. I thought, O.K., we’ve got to start making some moves in another direction. + +We moved from Costa Rica to Austin after 11 months, but I think we had to move to Costa Rica to end up in Austin. It was all about that relativity. Speaking for myself, I had to have that swing, to go there and say, “That’s not right, the answer is somewhere in the middle.” + +I now ride my bike to work, safely, every day. It’s 15 minutes along the lake. It’s beautiful. The kids are going to a Spanish immersion school and they’re doing great. + +We live in a historic neighborhood called Clarksville, and we checked all the boxes: We got the rescue dog, and my daughter got some cowboy boots. We’re settling into this new life. But again, who knows? I might just be a serial leaver. + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +I thought that my (editorialized) headline would nicely sum up my thoughts on the guy. Evidently it did not as my post was removed...sorry mods :) The lesson here is: don't attempt to perform "geographic arbitrage" without doing an ounce of research ahead of time about the place you are moving to. This goes for international moves, like the author's, but also for moves to different regions of your own country. You are setting yourself up to be scammed ($3000 rent in Costa Rica??), but it is also deeply disrespectful to locals if you do not make an attempt to fit into the culture and customs. This man even had the advantage of a Spanish-speaking wife yet made little attempt to learn the language or venture outside of the "expat" (cringe) areas. +Because I know most people in here aren't seeing the big picture with Ethereum on a protocol level let's go over a few (very) important things coming in the near future. + +Metropolis (Ethereum 3.0) - This upgrade is slated for Aug/Sept and will be the first upgrade since Homestead (Ethereum 2.0) from early last year and for reference Frontier (Ethereum 1.0). Metropolis will bring with it some huge upgrades. + +Raiden - Currently Ethereum can process a max of 15 transactions per second, Bitcoin can do about 7. This is nowhere near what Visa does at 40k/tx per second. You've heard of Bitcoins lightening network which will enable Bitcoin to do infinite tx/sec? Well Raiden enables the exact same thing on Ethereum by creating what are called "Payment Channels". Not gonna go into too much detail but it's like Bob and Carol agree to put a $100 deposit into an account and write notes saying one or the other owes $x amount, then on a predetermined day one of you squares up the account by making one large transaction on the Ethereum blockchain. + +ZN-Snarks - You know how your friends tell you Ethereum isn't anonymous like Monero or ZCash? Well ZK-Snarks will enable you to selectively make transactions public or private. It's the same standard used for ZCash but implemented on the protocol level on top of Ethereum. This is a big part of Enterprise Ethereum Alliances road map which is why JP Morgan is working with ZCash to implement it into Quorum (JP Morgan private Ethereum Chain) as well. Ethereum is basically taking all the best features from other coins and implementing them. + +Ice Age - Currently, there are ~93 Million ETH circulating with 5 ETH created every 15 seconds (15% annual inflation) during the last upgrade (Frontier) there was an "Ice Age" coded into Ethereum which would slow down the creation of ETH on a curve that would eventually freeze up Ethereum. The reason for this was to force the developers to finish up Metropolis before the network froze up. One side effect of the ice age is that the creation of ETH slows down thus reducing the rate of inflation but also increasing the transaction time. We're beginning to see the first effects of it and by August it'll be 5 ETH created every ~30 seconds. + +Casper - Shortly after Metropolis, Ethereum will release the actual figures for Casper as well as the first of 5 phases which will move Ethereum from PoW (Proof of Work) using mining rigs and computers to approve transactions to PoS (Proof of Stake). What happens with PoS is instead of miners running all the time, you will have people holding ETH "Stake" their ETH and basically lock their ETH up in a smart contract while running software on their internet connected computer. In return for locking their ETH up, they will earn interest on it at an undermined rate (figures Vitalik has floated around varies from 6-12% annually). Not everyone will be able to stake, Vitalik has stated that the inflation rate of ETH will drop from 15% currently down to 0-2%. With basic supply and demand math you should be able to figure out what that means for the price. + +Casper is a major reason people are stocking up on ETH. Imagine if in 1 year you could lock up 1000 ETH and earn 120 ETH per year? If the price is $1000/ETH you're talking USD $120k annual without selling any of your original ETH. + +Edit: some typos, was writing on the treadmill. +As a Millennial, I don't know if I can handle any more "once in a life time" disasters/events, but with everything going on, I've kind of started wondering....what exactly SHOULD we do to prepare ourselves? It's hard to compare our situations to the past wars given the technological risks now a days...and I know it may not even get that far...but I can't stop thinking about it. + +We're already seeing supply chain issues, but like, should I call my propane company and top off now? What about gas? + +Stock up on canned goods and dry goods? (If toilet paper goes missing again I swear to GOD....) + +Should we pull what money we have out of banks? Delete our passwords and saved data in case of cyber attacks? + +Like...what actually should we do? + +NOTE - This isn't a political discussion - this is about survival and how we cope with what's about to happen. I don't care who's fault this situation is. I just want to know how to survive it. +Hi. I bought cryptos in 2012 and I've been hodling all this time in deep cold storage. I'm what you would call a crypto millionaire. I'd like to know what other people in my situation are doing regarding the tax man. Do you disclose your holdings? All? Some fraction? Nothing? What are your future plans? What if your net worth goes 10x or 100x or 1000x in the upcoming years? How are you preparing? Do you have or plan to have some kind of corporate structure to handle your wealth? If so, in which country/ies? +So, I'm thinking about graphs like [this](https://www.ft.com/__origami/service/image/v2/images/raw/http%3A%2F%2Fcom.ft.imagepublish.prod.s3.amazonaws.com%2F7da2f0f8-c89e-11e7-ab18-7a9fb7d6163e?dpr=1&fit=scale-down&quality=highest&source=next&width=700). The implication of this claim would be some form of neo-colonialism where the developed world screws over poorer countries by maintaining their lifestyle while moving all the bad side-effects to the third world. Does this claim hold any truth? +I mean that's enough to have 100% control right? + +Also, when it is reported that he offers to buy Twitter, from whom is it? Wouldn't he just buy all the shares? Or are many of them not on the market? +I know it’s possible. But how realistic is it? Especially someone who is fairly new to day trading. + +I have been involved with stocks for a couple years and lost enough in options to learn a bit about it. But I’d like to get to a point that I could trade as a full time job. Thanks +**TLDR: Conditions are primed right now for a significant increase in hedgie buying power. The delta sensitivity test spike is a harbinger of change, and more often then not... significant price increases....** + + + +**Background** + +My work is built on the idea that the market is largely unpredictable, but one particular kind of behavior is certain - hedgies gonna hedge. It's written into their algorithms. Specifically, they like to delta hedge and gamma hedge. This work tries to profit on this one particular type of buying/selling behavior, and works well for giving guardrails for stocks with high options volume relative to the underlying equity volume. + +The primary indicators included in these graph include: + +• **Delta Neutral (DN)** \- This represents the underlying price that would create a total market delta of 0 across all options (all expiration dates) for a given date and ticker. In general, it acts like a floor to the underlying price, but if the price drops below the delta neutral, then it tends to shoot back up above that line. + +• **Gamma Maximum (GM)** \- This represents the underlying price that would create the maximum gamma across the market. The GM seems to act like a ceiling, but fun things happen when the underlying crossing that threshold! + +• **Delta Sensitivity Test** \- This represents the % change in the total market delta associated with a 5% increase in the underlying stock price. Significant spikes represent unusually large hedging patterns based on the options mix, and can indicate the potential for significant buying / selling power on the underlying ticker. + +&#x200B; + + **Graphs** + +Here's GME below, with the mother of all delta spikes (green), along with the other indicators you're used to seeing, the DN (grey), gamma max (red) and close (blue). + + + +https://preview.redd.it/2pojhah19n481.png?width=1421&format=png&auto=webp&s=7736f343b7644f2597240d15f096bb5fbb1399e1 + +Here are the key points I want you to take away from this: + +* The underlying is back below the DN, but notice that the DN isn't dropping quickly with it. This means that the options market thinks the equilibrium is still around $200, not $150, and options buyers/sellers aren't buying/selling like the underlying price should be $150. +* Because the options mix is not dropping with the price, and the market equilibrium is still back at $200, it's created a situation where small changes in price result in much higher levels of purchasing than usual. +* As you can see above, these delta sensitivity test peaks occur BEFORE surges, so small price increases in the underlying tomorrow will get bonus buys from hedgies, to the tune of an 814% increase in hedgie buying with a 5% increase in the underlying. +* So again, look and see how these spikes happened before the January surge, in the February dip, in the March drop, at the beginning of August and the middle of October. + +I'll show you a selection of other graphs so you can see the spikes in action + +&#x200B; + +&#x200B; + +&#x200B; + +https://preview.redd.it/midnypd49n481.png?width=1421&format=png&auto=webp&s=0f8a58a644f442ef15f71717e38369b3f3222ef4 + +&#x200B; + +https://preview.redd.it/6ibcabn69n481.png?width=1421&format=png&auto=webp&s=7407a1014edc881f9c80bfd0dc76ee12e9177b50 + +&#x200B; + +https://preview.redd.it/5c4mi1h99n481.png?width=1421&format=png&auto=webp&s=0c22756b13ce4d3decf007c98de10f8dc5ce5796 + +&#x200B; + +https://preview.redd.it/6rp3vx5b9n481.png?width=1421&format=png&auto=webp&s=296cce42b6e63272d5387290685042d263b8622f + +&#x200B; + +https://preview.redd.it/bph5ekbc9n481.png?width=1421&format=png&auto=webp&s=fb3a844013777107ed343bc1a9a16734c5829188 + +&#x200B; + +https://preview.redd.it/t78qr9ld9n481.png?width=1421&format=png&auto=webp&s=a37c4638c3213a6bd413df609e2eaa05360d8700 + +&#x200B; + +https://preview.redd.it/9lt0r1if9n481.png?width=1421&format=png&auto=webp&s=271874eba3487020839efb2f22f1e6282266cba6 + +&#x200B; + +So as you can see, the spikes aren't PERFECT, but they are harbingers of change, and more often than not, signal a significant increase is coming. + +God speed, and hold strong. + +&#x200B; + +**Caveats and Limitations on Use** + +These graphs contain output from my personal model. I am not qualified to provide financial advice, and have no experience trading professionally. This model has not been peer reviewed, so use this output at your own risk. + +This model serves to help Redditors make investment decisions, but still requires Redditors to consider other relevant information, including earnings reports, news, relevant events, momentum and reversion to the mean in the underlying stock. Redditors should think critically about emerging information, and not make decisions solely based on this output. + +In performing this analysis, I relied on raw daily options summaries from historicaloptionsdata.com. I have not audited or verified this data and other information. If the underlying data or information is inaccurate or incomplete, the results of this analysis may likewise be inaccurate or incomplete. + +These graphs are not predictions of the future; they are indicators based on the assumptions. Emerging results should be carefully monitored with assumptions adjusted as appropriate. + +&#x200B; + +**TLDR (in case you dumb dumbs didn't find it at the very top): Conditions are primed right now for a significant increase in hedgie buying power. The delta sensitivity test spike is a harbinger of change, and more often then not... significant price increases....** +I lurk here because I am entertained by the enthusiasm. Many of you remind me of myself 15 years ago. I think many of you younger guys who read this sub just learned an important lesson, so I'm going to bring it home. + +NOBODY KNOWS WHAT THE FUCK IS GOING TO HAPPEN NEXT. + +TA is good at interpreting the past, but if it was able to actually predict the future then somebody already wrote a script that can suck the value out of that play faster than any of our monkey brains can. + +This is true regarding ETH, BTC, the price of gold, the S&P, bond yields, you name it. Trading is not much different than gambling in the short term + +Two Warren Buffet quotes (I think): + +"The market can stay irrational for longer than you can stay solvent." + +In other words the market doesn't give a shit how smart you think you are, you either need the ability to wait or you should not be in it. + +"The market is a voting machine in the short term and a weighing machine in the long term." + +In other words, what we just saw over the past 2 months was the voting machine. Now the weighing machine is kicking in. Perhaps we were a little overbought, fine. If you have time to wait then you'll see another cycle happen. If not, then you shouldn't be in it. + +Good luck, young bucks. Keep reading these subs for fun, but remember: + +NOBODY KNOWS WHAT THE FUCK THEY ARE TALKING ABOUT. +With the Constantinople upgrade and issuance reduction (3 ETH per block to 2 ETH per BLOCK) around the corner, many argue that the bottom is either in or near, since the ETH inflation rate will be dropping to essentially match that of BTC's. + +Others argue that BTC has farther to fall and will drag everything else with it. + +So which is it? Has ETH bottomed or not? + +[View Poll](https://www.reddit.com/poll/9yg8r6) +[Link to article](https://www.dailymail.co.uk/news/article-9857687/Biden-set-announce-new-eviction-moratorium.html#comments) + +Disclaimer- My post is being downvoted by many people. I understand the frustration, that is why I posted the article so people would be aware of what is happening. I am in no way agreeing with what the CDC is saying in any way, just want the info out there so landlords/tenants know exactly what is going on due to the news cycle moving so fast these days. Thank you. +AutoModerator has been up all night looking at charts and seems to have fallen asleep + +*** + +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! + +So I’ve been poor all my life 26M. I got really lucky and won 20k on the horses. 6k of it is going on self improvement (hair transplant and a few other things) 3-3.5k of it is going on paying off some bills for my mum and spoiling her rotten. That leaves me with about 5-6 left after other treats and stuff. Not really sure what the hell to do with it. Is there anything that I could do with it over the next 3-4 years that coupled with saving I could raise the 20k I need for a house deposit in my home town, to basically help fund living in an apartment in London? + +I have lived paycheck to paycheck and it’s nice to think about my older years and having some financial freedom there. + + +Any tips or helps would be really appreciated, thanks. +$17k CC debt at the start of 2020, spread across 4 cards +\+ $8k emergencies over the year += $25k total CC debt paid this year + +$52k net income 2020 (aka take home pay) +HCOL area (USA), my income is around the 40th percentile for my area + +How I did it: + +**50/30/20 Rule, budget based on net income** + +* I try to keep necessities at 50% of take home pay +* Max. rent is 25%. **This is my #1 rule.** I’ve learned that every other area of my finances suffer if I’m paying too much for rent. +* Max. transportation is 7%. **This is my #2 rule.** A large car payment will gobble up all sorts of financial goals. + +**Budget Breakdown for 50% Needs** + +* 25% Rent: I share a house with a few people. I’m so sick of roommates but it’s the only way to keep it this low. +* 5% Utilities: Water, sewer, garbage, gas, electricity, internet, yard, cell phone +* 7% Transportation: Old but reliable car, \~$1k in maintenance/repair per year, remaining costs are gas, parking, tolls, washes, registration, roadside assistance +* 8% Food: I let myself splurge here, within reason, 75% of this goes to groceries and 25% to restaurants. +* 5% Healthcare: My employer pays my insurance premiums, otherwise this would be higher. + +**Get rid of all possible interest** + +* 0% APR Transfers: Opened 2 new CCs at the beginning of the year to do balance transfers; and one of my existing cards offered 0% on transfers so I transferred its balance to a new card, then transferred a different balance to this card, wiping out future interest. There were transfer fees but they were far less than I would have paid in interest. This got me out of future interest for about 2/3 of the debt. +* Avalanche Method: Made min. payments on everything then threw all my extra cash at the highest interest debt. +* After paying off the interest-accruing cards, I paid off cards in the order of 0% promo expiration dates. +* Used my debit card for all new purchases (excluding emergencies). + +**Stare those CC balances in the face!** + +* I had a spreadsheet tracking all my CCs: running balances, interest rates, 0% promo end dates, and payments (past and forecasted). **This was really important because it showed how much I needed to increase future payments if I got behind.** +* It also felt good to see those balances go down and reinforced the reward of paying them down. +* Even though I knew I had racked up a chunk of debt, I didn’t appreciate the total amount because it seemed like a few grand here or there because it was spread across a few cards, not almost $20k (scream face). + +**You Need a Budget** + +* I started ynab in August and that really showed my spending habits. I hated it at first, I still do sometimes (I’m a planner and it’s very anti-forecasting). +* It showed how much I was living on next month’s income, and where I was overspending. +* Ynab is also helping me save better so I can handle emergencies without using my CC or efund (my efund is pretty much: it’s this or homelessness). + +**Advocate for Yourself** + +* I was promised a well-earned raise mid-year that my company kept postponing, and assuring me it would be retroactively applied once the amount was determined. I asked about it monthly and after a few months of being told it was pushed back again, I pointed out how long I had been waiting and that their commitment to me kept getting pushed aside because something else was perpetually more important. I got the raise in the next few weeks and applied the retroactive pay toward my CCs. +* I wasn’t sure if I should include this but it was part of my journey. I would have spoken up for myself without the debt, but my sheer determination to pay it off by the end of the year pushed me to stop accepting, “it’s coming,” and insist on a different answer. + +It took steadfast drive and attention. all. year. long. But I did it! I don't really have anybody to share this with, so many loved ones have had their worlds upended this year. And I wanted to share what worked for me in case it helps someone else. + +I know how hard this year has been for so many people and I'm really grateful I was able to do this. I know the feeling of bills coming in and having nothing to pay them with despite my best efforts. I did everything I could possibly think of to get rid of this debt this year so I'm not living on such a shaky foundation. +>The Senate’s newest member sold off seven figures worth of stock holdings in the days and weeks after a private, all-senators meeting on the novel coronavirus that subsequently hammered U.S. equities. + +>Sen. Kelly Loeffler (R-GA) reported the first sale of stock jointly owned by her and her husband on Jan. 24, the very day that her committee, the Senate Health Committee, hosted a private, all-senators briefing from administration officials, including the CDC director and Anthony Fauci, the head of the National Institutes of Health of the United States, on the coronavirus. + +>“Appreciate today’s briefing from the President’s top health officials on the novel coronavirus outbreak,” she tweeted about the briefing at the time. + +>That first transaction was a sale of stock in the company Resideo Technologies worth between $50,001 and $100,000. The company’s stock price has fallen by more than half since then, and the Dow Jones Industrial Average overall has shed approximately 10,000 points, dropping about a third of its value. + +>It was the first of 29 stock transactions that Loeffler and her husband made through mid-February, all but two of which were sales. One of Loeffler’s two purchases was stock worth between $100,000 and $250,000 in Citrix, a technology company that offers teleworking software and which has seen a small bump in its stock price since Loeffler bought in as a result of coronavirus-induced market turmoil. + +https://www.thedailybeast.com/sen-kelly-loeffler-dumped-millions-in-stock-after-coronavirus-briefing +I spent my career at FAANG (I'm FIRE now) in the Seattle area. I viewed my position as a winning lottery ticket. Anyone at a higher leadership level at a FAANG makes such an insane salary (by a comparison to any normal income) that FI is clearly possible. Since every one of my peers should have made $300k annually or often much more, you would expect that they're all working because they love the work, not because they still need the money. + +Even with these high salaries, the majority of my co-workers spent a significant percentage of their income. They would talk about anxiously waiting for a stock vesting to pay off some bills. They'd talk about how their car payment (on their Tesla, or fancy BMW) was almost done, which was a relief because it was hard to make ends meet. + +I remember talking to someone who was certainly making 7 figures a year, and had been for years. They said they needed probably another 10+ years to be able to retire, if they could cut down on their expenses. With complete seriousness they said that their third vacation home was probably too expensive, and they needed to really figure out a family budget. + +In the end, if you make a "decent" income, it is 100% about lifestyle creep. It's not necessarily about living like a college student (e.g. leanfire). Lifestyle creep's impact surprises people. It's not always about a third vacation home. Sometimes it's about the slightly more expensive car, and the slightly more expensive vacation, and the slightly nicer clothes. Next thing you know, you've received lovely 5% a year raises, with 6% a year expense increases. That's digging a hole, not improving your situation. + +Anyway, my main point is that income is necessary up to a certain point to be able to achieve FIRE, but the majority of people above that line shoot themselves in the foot all on their own :) +I've noticed an up tick in posts about people feeling they're a failure, starting too late and unhappy about their savings rate. + +My guess is that in many cases people feel like this because there are posts frequently about people on $100K a year with $150K in savings and asking what to do with their money. + +For all who a are anxious about this, let me tell you. Majority of people in Australia and on this sub are not earning such amounts and many do not have anywhere near as much savings. They are outside the bell curve! Do not compare yourself to such earners! + +If you're $50K a year and manage to save $20K - 25K you are doing very well. In 2 years that's $50K, in 4 years it's $100K (Not including any interest growth). + + +To all that are saving $5K a year, you are doing well. Keep going. + +To all that are saving $10K a year, you are doing well. Keep going. + +To all that are saving $20K a year, you are doing well. Keep going. + +Do not let doubt get in the way of your savings. Savings is cumulative. + +"Water can break concrete with enough time" + +Just keep plugging away fellow AusFinance members! +We have grown to the kind of size we only dreamed of in the time it takes to get a bad nights sleep. We've got so many comments and submissions that we can't possibly even read them all, let alone act on them as moderators. We wrote software to do most of the moderation for us but that software isn't allowed to read the Reddit new feed fast enough and submit responses, and the admins haven't given us special access despite asking for it. + +We're suffering from success and our Discord was the first casualty. You know as well as I do that if you gather 250k people in one spot someone is going to say something that makes you look bad. That room was golden and the people that run it are awesome. We blocked all bad words with a bot, which should be enough, but apparently if someone can say a bad word with weird unicode icelandic characters and someone can screenshot it you don't get to hang out with your friends anymore. Discord did us dirty and **I am not impressed with them destroying our community** instead of stepping in with the wrench we may have needed to fix things, especially after we got over 1,000 server boosts. That is pretty unethical. + +To add to this, people are co-opting our name on twitter. I won't mention their accounts, but lots of handles with "wsb" and "wallstreetbets" in them are pretending to speak for us. They're saying things that we don't agree with, driving traffic to derivative communities and shitty pixelated merch stores, and generally making it harder for us to define who we are. There's also too much political bullshit in a community that was never *ever* political. The only way I want to occupy Wall St is in a suit myself or rent-free in the mind of a blown up short. + +~~That is why I'm throwing my support behind the Twitter handle in general. We need a way to PUBLICLY reach out to the staff of the infrastructure that is failing us so the world can see that we aren't doing anything wrong here if they don't respond. We need to be able to respond directly to a reporter that is lying to the world about our clubhouse. We can't be expected to meet any expectations when we aren't given the tools we need.~~ + +~~That's not to say I approve of every message or will even be in the loop for all of them, but it's clear to me we can't do nothing and we need a megaphone.~~ + +~~We'll do our best not to pretend to speak for you, but to try to speak with the volume our name now seems to command to get shit done for us.~~ + +EDIT: As of recent developments the aforementioned twitter handle is obviously not legit anymore. Phew. + +If I buy x20 stocks of a particular company on an app like Robinhood for example at $6 each, I spent $120 and I now own x20 stocks of this company until I decide to sell. I can decide to sell at any time I want. Stocks go up and down in price all the time so as long as I sell on a day when the stock price is higher than what I paid I will make a profit. I will only lose money if the stock price goes down and then it NEVER goes back up. +————- + +It can’t possibly be this simple. There’s always stories going around about how people lost tons of money with stocks and I question why didn’t they just hold onto their stocks until the price goes back up? Please enlighten me with how stock buying and selling actually works, if not as I’ve explained. +Obviously, we all know that inflation is nuts right now. I've seen gas spike, groceries spike, everything spike. But nothing has hit me like this. + +I buy a bag of dog food about every 2-3 weeks. The bag is 15 pounds and cost about $37. My experience buying the same bag the last three times went like this. + +1st visit: noticed the manufacturer reduced the bag from 15 pounds to 12 pounds. Price also reduced a bit, down to about $30 I believe. Fine by me. + +2nd visit, 3 weeks later: 12 pound bag now back to original price of $37. + +3rd visit, 2 weeks later: 12 pound bag now costs $46, and was told it's the cheapest thing they've got in the store. + +This is getting brutal, man. I'm paying more money and getting less for it and it keeps getting worse every time I go in the store. +So my company had an employee stock ownership program. I have about $100k in it. Our company is 8 years into a 15 year plan to release all the shares . It was bought out by an investor and we were told all the shares will now be released and expect that figure to double. So now I’m looking at approximately $200k. + +I am in the US and am 46 years old. I can cash that out at about a 34% tax rate plus a 10% penalty or roll it all into my 401k without any taxes or penalties. + +My boyfriend of 8 years whom I’ve been living with for 3 years wants me to cash it out and pay off his mortgage of $138k. His idea is that he will pay me back over the next 15 years. He says he will pay me about $350 per month. He is subtracting the $600 a month rent I currently pay from the money he will pay me back. + +He thinks it’s a great idea and better to invest in real estate than the stock market. So if I did this he would put my name on the deed and I would have equity in the house. He thinks it makes sense. + +I don’t because once I retire we would either have to sell the house or do a reverse mortgage for me to have income (retirement) to live off of. + +Would there be any future financial benefit for me to follow his plan? Is a 401k still a better option? + +I don’t come from money, I have no family that will ever leave me an inheritance. I feel like I will never have this opportunity to save for the future again and I don’t want to mess this up. + +I also am not financially in a spot where I can just up and leave him and buy a house on my own. These last 2 years have been extremely financially difficult for me. +It feels like 90% of the front page posts I see from this sub are about how someone is making a killing with their quarters they have earned a day or how we should be impressed that a humble 20 year old already has a dividend portfolio going. + +Any way we can limit/ban these posts that are the exact same thing every single day? They add nothing. And when people criticize or give feedback, it’s not unheard of for others to come in yelling “no one asked for feedback, don’t discourage OP!!1”. + +I’m not sure the purpose of those posts if people don’t want anyone to be critical. Is it just karma farming? Is it looking to get a pat on the back? + +Come on, mods. This sub can do better. + +Edit: FWIW at the time of writing, there are no fewer than 5 of these posts on the front page of this sub today. +I just watched an interview with Wes Christian on investor Matt Khor's youTube channel and it blew my mind. Wes estimated that naked shorting has stolen trillions of dollars from the American economy in the last two decades, or as he calls it "financial treason." In his words it has "stolen retirement from a generation." + +I should add that Wes is a lawyer that has been fighting crooked hedge funds and brokers for decades. + +I don't know how to change the title, but that should have been "naked shorts" not "naked shares." +I've seen endless posts today asking "why is this stock down" "how do you deal with the dips"? If this is freaking you out, maybe lessen your exposure to equities, especially individual stocks. +Retail investment is at an all time high, interest rates are nil, we have a pandemic going on while valuations are at all time highs. +If a 2% dip in indexes freak you out, please learn more about the markets before investing your money. +Like what is wrong with some of these people?? The vast majority of people who use this sub is specifically because they are POOR/STRUGGLING. We post here for advice, tips, and support. We don’t post here so we can get X amount of comments from judgmental assholes who say over and over, “Just get a job” “sounds like you’re the problem” “get over it” “this is your fault” “work harder” “How is this possible for you to be poor??” ”Just move, I don’t see the issue.” + + +Let me tell you something, because I think I speak for most of us. I work beyond full time. I work side jobs in my free time, including on my lunch breaks everyday. My circumstances are *none* of your business, but my circumstances are still valid. Everyone’s are, especially if they’re making an effort to escape them. I was born into a very lower class family, my parents were from poor families. Most of us born into this are already off on the wrong foot. Poverty is a vicious cycle most of us are all fighting like hell to break and get out of. It takes time. It takes effort, which again, the vast majority of us are giving that full effort. We are **trying**, we really are, but living in/coming out of poverty is fucking *hard.* Not to mention that our society does not make escaping poverty easy. It costs money to move. It costs money to learn a trade, go to school, go to the doctor, get mental health help. While of course, it’s not impossible (we know this), so many people act like escaping poverty is a quick fix. This is untrue. + +To add to that, there are different tiers to poverty. Some people are born into it, others fall on incredibly hard times, some people get fucked over by their families or loved ones (eg: taking loans out in our names, ruining credit, stealing our money, etc etc), some people are disabled, some people just make mistakes, learn from them, and are trying to pick up the pieces. And the sad fact is ~~some~~ many people, despite working hard which so many of you claim we don’t do, are only one or two paychecks away from poverty, just barely staying afloat, and doing all they can. It. Happens. Maybe not to you - and congratulations to you all - but it happens to people every single day. We are living it. It’s literally all around you. + +We are still human. I’ll repeat that: **we are still human.** + +Some days, we just really need to vent. That’s all. It doesn’t mean we aren’t trying. But working hard, trying to be strong, dealing with the stress, it all gets to you. That’s part of the whole “being human” thing. It’s a heavy weight to carry. That’s what, in my opinion, this sub is for. Being able to relate and hear others out, and offer advice, it’s what helps people continue to push through when they feel like giving up, and makes the weight a liiiiiittle less heavy. + +You don’t get to call someone lazy, make general shitty judgments and overall rude assuming comments about how they got where they are nor why they’re where they are now, when the *only* thing you know about their lives is exactly what is posted here. + +So if you’re the type of person to judge and criticize those on this sub who seek out advice or just want to vent, maybe step away from the screens and take a good hard look at yourself. Reflect on your poor character and be better. Having some perspective will make life a little less miserable for you, and maybe you’ll gain a little empathy. We may be struggling, but at least we treat others with respect. Because for a lot of us, who we are and our determination to live better lives despite any circumstances and the holier-than-thou ignorant bullshit around us is almost all we have. The last thing we need is to be kicked while we’re down. + +We won’t stand for it. I know I won’t. Not anymore. + +Edit: and to those who have dealt with this and/or are just struggling right now, I hear you. I see you. You are more than your circumstance, and you’ll get through this. Keep fighting the good fight and vent when you need to. Better days are coming! + +And of course you will always have people who victimize, or just won’t help themselves or don’t take accountability (it still doesn’t justify insulting and degrading them, but I know there are people who need to recognize certain issues when they’re in their own way). But just speaking generally, being in a bad financial position doesn’t mean you aren’t trying. Everyone is different, what works for some doesn’t work for others. Just...be freaking nice to people? Offer constructive advice? Or just don’t say anything at all if it’s nothing good or necessary. +Basically what do economists think about the economy of the Nordic countries? What were successful policies to increase and maintain a high GDP per Capita? How does the future look for these countries? Is their high standard of living sustainable? +Thank you in advance. +So about 20 minutes ago, I got a "hey, did you fly to Germany overnight?" Unauthorized login email from pornhub. Checked it, sure enough someone logged in with my password. Don't give two shits about someone watching porn on my account, so I immediately went to work on the rest. + +I don't share passwords with any accounts, but pornhub one was an oddly secure password that probably couldn't be brute forced... I assumed breach. + +Changed all my exchange passwords that were tied to the same email, and switched all their 2fa to my phone instead of email. That's when I start getting login failure notices... Of course they hit the exchanges first. + +After that I damage controlled financial institution accounts, and sure enough started seeing login failures on those. About 15 minutes after I got the pornhub notice (when serious damage would've already been done) I got a "possible breach" notification from capital one assistant. + +I totally am usually asleep right now. Pornhub may have just saved me tens of thousands of dollars, and is apparently more reliable than all my financial institutions. + +****Update and FAQ: + +Thanks so much for the awards and responses! I just thought this was a funny near miss and wanted to share my maniacal laughter, had no idea it would blow up like this. + +So, turns out it was my phone that was malware compromised. Factory reset, extended authy to everything for now, all passwords changed, all financial institutions alerted. + +As has been pointed out a few times in comments, it's likely they accessed pornhub first because if I had linked crypto wallets or bank accounts for tipping, they could just send all meh money to their verified account. Probably a super easy front door way of scooping a couple BTC up from unwitting peoples... Hadn't thought of that, I just assumed they were testing access. + +No, having a pornhub account doesn't mean I pay for porn, just that I like to save playlists and favorites. Some of you are living in the 90s of internet porn. + +Amazed at how many people assume that the breach came from pornhub. Frankly, it seems like they guard info better than anyone else I deal with. I would never think of putting personal information into any porn site... Pornhub's app has always proven to be secure and well supported. + +All credit accounts frozen, all financial institutions contacted. Net loss of ZERO. They attempted a $7000 wire transfer out of my checking account that my small town bank ofc called me about, and a $1300 credit card purchase that got declined as sketch. Otherwise it seems I beat them to all accounts. + +****EDIT 2: + +Since so many people are asking about my phone... It's an Android, brand new Motorola sealed in box. No, I don't know the source, just know that it happened in a 2 hour window before I got all my security up and running, during which time I used it for work a lot and downloaded a lot of my standard programs. + +I just ran my basic security check, and thing came up red af, so I didn't even bother trying to treat... I only have had it for a week, reset was easy. +I need to pay for out of state tuiton in college. It's going to be about $5000 a month and my dad is going to pay $2000 so i need to figure out how to generate the difference. Investment budget is around 5000-$10,000. +I go to a casino and walk over to the first table I see. The sign above the table says, "Kelly's Game". The dealer says, "Place a bet and The House will flip a coin. If you win the flip, The House will pay you 150% your money back. If you lose the bet, The House will keep 40% and return the remaining 60% to you." + +"That sounds great," I say. *Positive expected value. If I bet a lot, I should expect to get 105% of my money back on average. That's a good bet.* "What's the catch?" + +"Ah, yes. There *is* one more rule," says the dealer. "You must bet all of the money you have each bet or not at all." + +### How many times should I bet? + +My intuition tells me that the more times I bet, the better I should do. The law of large numbers should mean that over time, my overall winnings per bet converge on my expected value of 105%. In the long run, I feel like this is a rational bet. So, my strategy will be to make the bet 800 times and see where I am at.  + +Since I'm betting all my money on each bet, I can only actually test my strategy once. Let's think of that as a single universe, my universe, where we see a single unique chain of events. But, before I actually go to the casino and bet it all, I want to guess what my universe will likely actually look like. To do that, we will simulate a multitude of universes, each completely independent of the others.  + +Here's 1,000 simulations of my strategy where each colored line is my total bank, each simulating a single possible universe where I execute the strategy faithfully: + +[1000 simulations of 800 sequential bets of 100&#37; of the bank with 50&#37; to go 1.5x or 0.6x](https://preview.redd.it/wq79mdbxf0s61.png?width=820&format=png&auto=webp&s=f229d1e4ee4463721ff82f13a0338ef0a576b8b8) + +Notice the log Y scale. The dashed grey line with slope of 0 is breaking even. Negative slopes are losing money, and positive slopes are winning against The House. + +The dotted black line is what I expected to gain, 105% per bet for 800 bets, netting me an expected 80,000,000,000,000 more than I started with. If I take the average of an infinite number of universes, my mean return *is* equal to the dotted black line.  + +**But I only sampled 1,000 universes.** After 800 bets, only 1 universe in 1,000 has (just barely) more money than they started with. The more bets that I make, the worse it gets for me. The typical (median) return marked by the dashed white line is 1,000,000,000,000,000,000 *less* than what I started with (since you can never reach 0, you always get 60% back). I have a few tiny fractions of a penny left and a dying dream to recoup my money. + +**The typical universe is very, very different than the average of all possible universes.** I'm not from a mean universe. I'm from a typical, likely, universe. The median of a small number of samples more accurately reflects my reality than the mean of the infinite set. While the total money in all universes grows at 105% per bet, the money leaks from the typical universes to just a few extremely rare, lottery winner universes. There are some small number of universes in the set where I win an ungodly amount of money, but in almost every *other* one I lose big. + +Why is this so? In short, there are many more ways to lose money than to win money. Let's look at all four of the possible universes of 2 sequential bets: + +[There are more ways to lose than win](https://preview.redd.it/csnn9uf2g0s61.png?width=581&format=png&auto=webp&s=d01610db7effcc89e7d9bb78f1a8adeb4406c04b) + +There is 1 way to win and 3 ways to lose. The average winnings are still 105% per bet, compounded to 110.25% over two bets, but 75% of the time you lose money and 25% of the time you win big. The more times you bet, the worse it will typically get for you since you are more and more likely to be in one of the exponentially growing number of losing universes rather than the rare, exponentially rich ones. + +In this game, the rational number of times to bet depends on how much you care about losing 40% or more of all of your money. Since I consider having a 50% chance to lose 40% of my money too unpalatable, the number of times it is rational for me to bet is zero, even though the bet is positive expected value. + +*Screw this game.* In the universes where I bet 800 times I've lost all my money. In one of those universes, I go back home and wait for my next paycheck. + +### How can I win the game? + +When my paycheck comes in, I go back to the casino and back to the same table with the same dealer. "Your game is rigged," I say. "I want to bet against The House with my paycheck again, except this time I won't bet everything I own every time. I want to bet less and see how it goes."  + +The dealer considers this, and says. "Fine. But you must pick a percentage and you must make every bet with that percentage of all of your money." + +"Great. I'll bet half my money each time." *That way if I lose in the beginning, I'll still have money to bet with.* + +Let the gods simulate another 1,000 universes, using our new strategy: + +[1000 simulations of 800 bets of 50&#37; of your bank with 50&#37; to go 1.5x or 0.6x](https://preview.redd.it/tq552k45g0s61.png?width=820&format=png&auto=webp&s=ca4db3d2b64d8902fee2172377227407bdf88cf2) + +After 800 bets, half of our universes have made money, and half have lost money. Keep in mind that **nothing has changed except how much of my total bank I use to bet**. My typical universe is doing much better than before, but a far cry from the 80,000,000,000,000 return that my infinite selves are earning on average. + +After 800 bets, I'm right back to where I started. The dealer says, "The House is feeling generous. You may now choose a new percentage to place on each bet. What will it be?" + +*Reducing my bet size improved my situation. Perhaps even smaller bets will continue to make things better.* + +"Twenty five percent," I declare as I lay down last week's paycheck on the table, again. The gods flip the coin 800 times in 1,000 universes yet again: + +[1000 simulations of 800 bets of 25&#37; of your bank with 50&#37; to go 1.5x or 0.6x](https://preview.redd.it/1hg1jvr9g0s61.png?width=820&format=png&auto=webp&s=1288c977cb6e6b9b50a7d80c758e3ca7d1e33472) + +Now my typical universe is making good money, most of them are up more than 10x, and some as much as 100,000x. Now, satisfied, I finally get up to leave the casino with my money in my pocket. *But, I have to know.* I look at the dealer and ask, "So what's the optimal bet?" + +### Kelly's Criterion + +*In probability theory and intertemporal portfolio choice, the* [*Kelly criterion*](https://en.wikipedia.org/wiki/Kelly_criterion) *(or Kelly strategy or Kelly bet), also known as the scientific gambling method, is a formula for bet sizing that leads almost surely to higher wealth compared to any other strategy in the long run (i.e. approaching the limit as the number of bets goes to infinity). The Kelly bet size is found by maximizing the expected value of the logarithm of wealth, which is equivalent to maximizing the expected geometric growth rate. The Kelly Criterion is to bet a predetermined fraction of assets, and it can seem counterintuitive.* + +To calculate the optimal bet size use + +[Kelly's criterion](https://preview.redd.it/c1oiagsag0s61.png?width=126&format=png&auto=webp&s=8734d6f709c4e43ade29656a60e9cf9b3ad87b9a) + +where  + +**{b}** is the the percent your investment increases by (from 1  to 1 + b) + +**{a}** is the percent that your investment decreases by (from 1 to 1-a) + +**{p}** is the probability of a win + +**{q=1-p}** is the probability of a loss + +**{f\*}** is the fraction of the current bankroll to wager (i.e. how much to bet) + +Using the calculator, you can see the **the optimal bet size is 25%** of your money on each bet: + +https://preview.redd.it/bks0yqccg0s61.png?width=820&format=png&auto=webp&s=b023fcc98a3ebb31f4ade5732166c8b37042870a + +Looking again at the above graph, that means that **the optimal betting strategy typically yields less than the expected value** for the strategy. + +### Kelly's Criterion Bet Size Calculator + +[Here's a spreadsheet](https://docs.google.com/spreadsheets/d/1gXIAsFgf86_RPiiG8qfoKScj9e4v5DZp4k1FgvbTQC4/edit?usp=sharing) to play around with the above equation and calculate optimal bet sizes.  Make a copy and edit the cells highlighted in yellow to see what the optimal bet is. Read more in this [awesome Nature Physics paper](https://www.nature.com/articles/s41567-019-0732-0) and this [great article an AMMs](https://research.paradigm.xyz/uniswaps-alchemy). +Like I understand that the wealthiest people on earth have a LOT of the worlds money but what would happen if all that money and the people it belonged to were to suddenly vanish one day and be removed from the global economic equation? +I have been reading the book: The oil factor by Stephen Leeb written in 2004. He talks about the inverse relation between (rapid) increase in oil prices, lowering supply and high demand, but he takes a detour. The dotcom bubble dropped sp500 -40%, nasdaq -80%, 16trillion USD wealth went to 7 trillion. The fed lowered rates to 0.75%, boosted borrowing and home prices served as a healthy collateral, which can only go up right? US was highly in debt before the bust, but after… oh with low rates causing booms in home prices, more debt. In this 2004 books he says, if home prices would fall it would be taking down the banking system (1:6 leverage at that time so 18% default was needed to make the banks insolvent, we know later the leverage was 1:20 so 5% default was enough). What would cause home prices to fall? Policies to curb inflation, aaaand when did the fed start to raise rates? Yes, early 2007. No more cheap refinancing causing defaults (subprime etc), and booooom. + +Amazing book btw on oil, I would recommend it :) thought I would share my joy of finding this out, maybe Burry read this book also in 2004? +I've been investing in dividend growth stocks for 7 years now, and this is my current portfolio. + +A couple of notes: + +\- The 13k pay for a around 57% of my expenses. Not quite FI, but getting there. + +\- I own 73 stocks, which is too high for my taste, so I'm re-balancing to focus on my core stocks + +\- The portfolio payout ratio is only 39%, based on forward earnings. This is a key metric I focus on. I value strong financials and dividend growth over current yield. + +&#x200B; + +https://preview.redd.it/kxndbp7a5gr71.jpg?width=1153&format=pjpg&auto=webp&s=0b3752c1ff016f662bba95a27535669e6b4274be + +&#x200B; + +EDIT: Since a lot of you have asked for it, here are all the stocks I own, as well as some I sold. + +&#x200B; + +https://preview.redd.it/hvjcr98vdir71.jpg?width=1920&format=pjpg&auto=webp&s=79403e2523711b651efab198a91e6b6f39ad0a2d +I majored in econ for 5yrs, after spending 2yrs in highschool, and am still astounded at how often I learn basic economic principles *after* formal studying (que jokes that I didn't really study hard, or am inherently dumb, etc....I promise my education NEVER went over the reality-of, and implications-of, the facts that we swapped to a fiat system with a private Federal Reserve, not in 7yrs of study :/ ) + +SO....my understanding now, which I can't find evidence-against, is that banks no longer need a 10% reserve requirement for loans-issued? IE, for a bank to loan-out $10M last year, it'd need $1M of funds on its books at all time, **minimum**, for some pretty obvious reasons. + +But my understanding is it wasn't "reduced" it was **eliminated**, this isn't just "unfair" but I fail to see how it will lead *anywhere* other than implosion of our financial system.. specifically: + + - Re "Unfair": if I own a bank, and I make money off interest people pay on loans, then I want more $ in my reserves so I can make more loans (ie where I create value/earn money), but w/o this reserve-limit I can now write, what, **as many loans of whatever value I want??** I can have $50K at my bank, and $200M of loans floating around? + + - Re "implosion": I was personally happy to get free-money with the stimulus $$, but I shuddered at their ability to snap their fingers and hand-out that type of $$....while also making it easier for banks to "gamble"....all while the baby boomers are rapidly swapping-over from earning/producing, to retirement/consumption...I fear the ONLY viable way to keep some of our "ponzi-esque" programs afloat, is to print more $$ to "cover them" but of course this just inflates the currency even moreso and there's GOTTA be an upper limit, other countries go bankrupt and I understand it has to be far worse for that to happen to the US because of our allies, because of how much the world's finances are pegged to our dollar, but surely those reasons don't hold us forever, if we want to keep acceleating inflation-rates, and accelerating the rise in annual debt increases for the country, **eventually** the rest of the world would say No (eventually) + +Thanks a ton for any insight to help me better understand this, and to be clear I'm non-partisan (moreso than "non-partisans" typically come, I do not watch any mainstream news, have never in my life identified as lib/dem or repub/conserv., only when college-age did I think I was a libertarian/crypto libertarian but for past decade i'm "nothing" or "independent", I don't see a great deal of difference between either of the main parties in the US, this post is strictly economics not partisan!) + +Again thanks for any help/understanding here, to my brain it almost reads like our economy is looking more & more like the Titanic... +Hi ! + +I was reading the comments of two threads on this subreddit this morning and saw that a lot of new investors did not know about the 15% whitholding tax on US dividend in TFSA. + +So quick reminder, most US stocks that are held inside a TFSA will have a 15% tax on the dividend they pay. You don't need to do anything, they take it before you get the money. (Correct me if I'm wrong on this) + +HOWEVER, the capital gains are tax free. So for example if you bought 10 MSFT for 100$ and sold them at 200$ one year later, you would have made 1000$ tax free but had lost 15% of the dividend received. ( 2,24 x 15% = 0,33$ ) + +To save the 15% tax, you need to hold US stocks in an RRSP because they're is a tax treaty between US and Canada. + +For more details : [Article about this](http://www.lucierwealth.ca/Should-you-ever-hold-US-stocks-in-your-Tax-Free-Savings-Account-(TFSA).aspx#:~:text=Unlike%20Canadian%20income%20producing%20assets,avoid%20the%2015%25%20withholding%20tax.) +I see a lot of new posters here talking about how they are a former WSB user, lost a lot of money, but now have outsized gains "due to Thetagang." They then proceed to show CSP or even Credit Spread positions on tickers like AMC, TSLA, RIOT, PLTR, TLRY, etc. These users are still taking on massive risk. Let me explain. + +The standard thetagang strategy is selling out-of-the-money puts on a ticker the user would not mind owning. By definition, these puts are less than 50 Delta meaning as the stock increases the strategy will profit at a rate of <50% of the underlying movement (this decreases as the stock goes up more). However, you still have all the downside of the stock. This means if we get an extended downturn or even a prolonged pullback, you are open to all the downside of these uber-growth stocks that **historically perform the worst in the bear market**. + +Thetagang tends to reduce volatility on a given underlying at the expense of some returns. However, if you are targeting at +200% IV underlying, you should still expect a very high portfolio volatility. That works great when we have the longest raging bull market in history. However, if this thing turns down, you are going to be stuck holding WSB style loses with no ability to sell calls anywhere near your cost basis. + +All I'm saying is you need to pay attention to the underlying and understand how you would feel if the stock shit the bed. If you don't have a plan for your meme stock dropping by +50% over the next year, you probably should reconsider your strategy. + +I personally have allocations to CSPs on GME. However, these are: + +1. Way OTM +2. A small percentage of my portfolio +3. A stock I would not mind owning if it cratered to $20, $10 or even $5 over the next 2-4 weeks. + +Again, I'm not saying don't do these strategies. I'm just saying please be aware you can still have WSB style loses with thetagang. + *Disclaimer: I am not a financial advisor. This entire post represents my personal views and opinions, and should not be taken as financial advice (or advice of any kind whatsoever). I encourage you to do your own research, take anything I write with a grain of salt, and hold me accountable for any mistakes you may catch. Also, full disclosure, I hold a net long position in GME, but my cost basis is very low (average \~$67--I have to admit, the drop today was too tasty so my cost basis went up from yesterday)/share with my later buys averaged in), and I'm using money I can absolutely lose. My capital at risk and tolerance for risk generally is likely substantially different than yours. In this post I will go a little further and speculate more than I'd normally do in a post due to the questions I've been getting, so fair warning, some of it might be very wrong. I suspect we'll learn some of the truth years from now when some investigative journalist writes a book about it.* + +Thank you everyone for the comments and questions on the [first](https://www.reddit.com/r/investing/comments/l5l413/gamestop_big_picture_the_short_singularity/) and [second](https://www.reddit.com/r/investing/comments/l6xc8l/gamestop_big_picture_the_short_singularity_pt_2/) post on this topic. + +Today was a study in the power of fear, courage, and the levers you can pull when you wield billions of dollars... + +Woops, excuse me. I'm sorry hedge fund guys... I meant trillions of dollars--I just briefly forget you control not just your own but a lot of other peoples' money too for a moment there. + +Also, for people still trading this on market-based rationale (as I am), it was a good day to measure the conviction behind your thesis. I like to think I have conviction, but in case you are somehow not yet familiar with the legend of DFV, you need to see these posts (fair warning, nsfw, and some may be offended/triggered by the crude language). The last two posts might be impressive, but you should follow it in chronological order and pay attention to the evolution of sentiment in the comments to experience [true enlightenment](https://www.reddit.com/user/DeepFuckingValue/posts/). + +Anyway, I apologize, but this post will be very long--there's just a lot to unpack. + +# Pre-Market + +Disclaimer: given yesterday's pre-market action I didn't even pay attention to the screen until near retail pre-market. I'm less confident in my ability to read what's going on in a historical chart vs the feel I get watching live, but I'll try. + +Early in the pre-market it looks to me like some momentum traders are taking profit, discounting the probability that the short-side will give them a deep discount later, which you can reasonably assume given the strategy they ran yesterday. If they're right they can sell some small volume into the pre-market top, wait for the hedge funds try to run the price back down, and then lever up the gains even higher buying the dip. Buy-side here look to me like people FOMOing and YOLOing in at any price to grab their slice of gainz, or what looks to be market history in the making. No way are short-side hedge funds trying to cover anything at these prices. + +[Mark Cuban](https://www.youtube.com/watch?v=EhZZnVs-KM4)\--well said! Free markets baby! + +Mohamed El-Erian is money in the bank as always. "upgrade in quality" on the pandemic drop was the best, clearest actionable call while most were at peak panic, and boy did it print. Your identifying the bubble as the excessive short (vs blaming retail activity) is [money yet again](https://youtu.be/Gxan42tXhbo?t=164). Also, The PAIN TRADE (sorry, later interview segment I only have on DVR, couldn't find on youtube--maybe someone else can)! + +The short attack starts, but I'm hoping no one was panicking this time--we've seen it before. Looks like the momentum guys are minting money buying the double dip into market open. + +CNBC, please get a good market technician to explain the market action. Buy-side dominance, sell-side share availability evaporating into nothing (look at day-by-day volume last few days), this thing is now at runaway supercritical mass. There is no changing the trajectory unless you can change the very fabric of the market and the rules behind it (woops, I guess I should have knocked on wood there). + +If you know the mechanics, what's happening in the market with GME is not mysterious AT ALL. I feel like you guys are trying to scare retail out early "for their own good" (with all sincerity, to your credit) rather than explain what's happening. Possibly you also fear that explaining it would equate to enabling/encouraging people to keep trying to do it inappropriately (possibly fair point, but at least come out and say that if that's the case). Outside the market, however...wow. + +# You Thought Yesterday Was Fear? THIS is Fear! + +Ok short-side people, my hat is off to you. Just when I thought shouting fire in a locked theater was fear mongering poetry in motion, you went and took it to 11. What's even better? Yelling fire in a theater with only one exit. That way people can cause the financial equivalent of stampede casualties. Absolutely brilliant. + +Robin Hood disables buying of GME, AMC, and a few of the other WSB favorites. Other brokerages do the same. Even for people on 0% margin. Man, and here I thought I had seen it all yesterday. + +*Side note: I will give a shout out to TD Ameritrade. You guys got erroneously lumped together with RH during an early CNBC segment, but you telegraphed the volatility risk management changes and gradually ramped up margin requirements over the past week. No one on your platform should have been surprised if they were paying attention. And you didn't stop anyone from trading their own money at any point in time. My account balance thanks you. I heard others may have had problems, but I'll give you the benefit of the doubt given the DDOS attacks that were flyiing around* + +Robin Hood. Seriously WTF. I'm sure it was TOTALLY coincidence that your big announcements happen almost precisely when what has to be one of the best and most aggressive short ladder attacks of all time starts painting the tape, what looked like a DDOS attack on Reddit's CDN infrastructure (pretty certain it was the CDN because other stuff got taken out at the same time too), and a flood of bots hit social media (ok, short-side, this last one is getting old). + +Taking out a large-scale cloud CDN is real big boy stuff though, so I wouldn't entirely rule out nation state type action--those guys are good at sniffing out opportunities to foment social unrest. + +Anyway, at this point, as the market dives, I have to admit I was worried for a moment. Not that somehow the short-side would win (hah! the long-side whales in the pond know what's up), but that a lot of retail would get hurt in the action. That concern subsided quite a bit on the third halt on that slide. But first... + +**A side lesson on market orders** + +Someone printed bonus bank big time (and someone lost--I feel your pain, whoever you are). + +During the face-ripping volatility my play money account briefly ascended to rarified heights of 7 figures. It took me a second to realize it, then another second to process it. Then, as soon as it clicked, that one, glorious moment in time was gone. + +What happened? + +During the insane chop of the short ladder attack, someone decided to sweep the 29 Jan 21 115 Call contracts, but they couldn't get a grip on the price, which was going coast to coast as IV blew up and the price was being slammed around. So whoever was trying to buy said "F it, MARKET ORDER" (i.e. buy up to $X,XXX,XXX worth of contracts at any price). This is referred to as a sweep if funded to buy all/most of the contracts on offer (HFT shops snipe every contract at each specific price with a shotgun of limit orders, which is far safer, but something only near-market compute resources can do really well). For retail, or old-tech pros, if you want all the contracts quickly, you drop a market order loaded with big bucks and see what you get... BUT, some clever shark had contracts available for the reasonable sum of... $4,400, or something around that. I was too stunned to grab a screencap. The buy market order swept the book clean and ran right into that glorious, nigh-obscene backstop limit. So someone got nearly $440,000 PER CONTRACT that was, at the time theoretically priced at around $15,000. $425,000 loss... PER CONTRACT. Maybe I'm not giving the buyer enough credit.. you can get sniped like that even if you try to do a safety check of the order book first, but, especially in low liquidity environments, if a HFT can peak into your order flow (or maybe just observes a high volume of sweeps occurring), they can end up front running your sweep, pick off the reasonable contracts, and slam a ridiculous limit sell order into place before your order makes it to the exchange. Either way, I hope that sweep wasn't loaded for bear into the millions. If so... OUCH. Someone got cleaned out. + +So, the lesson here folks... in a super high volatility, low-liquidity market, a market order will just run up the ladder into the first sell order it can find, and some very brutal people will put limit sells like that out there just in case they hit the jackpot. And someone did. If you're on the winning side, great. It can basically bankrupt you if you're on the losing side. My recommendation: Just don't try it. I wouldn't be surprised if really shady shenanigans were involved in this, but no way to know (normally that's crazy-type talk, but after today....peeking at order flow and sniping sweeps is one of the fastest, most financially devastating ways to bleed big long-side players, just sayin'). + +**edit** *so while I was too busy trying not to spit out my coffee to grab a screenshot, /u/piddlesthethug was faster on the draw and captured this: https://imgur.com/gallery/RI1WOuu + +Ok, so I guess my in-the-moment mental math was off by about 10%. Man, that hurts just thinking about the guy who lost on that trade.* + +Back to the market action.. + +# A Ray of Light Through the Darkness + +So I was worried watching the crazy downward movement for two different reasons. + +On the one hand, I was worried the momentum pros would get the best discounts on the dip (I'll admit, I FOMO'd in too early, unnecessarily raising my cost basis). + +On the other hand, I was worried for the retail people on Robin Hood who might be bailing out into incredibly steep losses because they had only two options: Watch the slide, or bail. All while dealing with what looked to me like a broad-based cloud CDN outage as they tried to get info from WSB HQ, and wondering if the insta-flood of bot messages were actually real people this time, and that everyone else was bailing on them to leave them holding the bag. + +But I saw the retail flag flying high on the 3rd market halt (IIRC), and I knew most would be ok. What did I see, you ask? Why, the glorious $211.00 / **$5,000** bid/ask spread. WSB Reddit is down? Those crazy mofos give you the finger right on the ticker tape. I've been asked many times in the last few hours about why I was so sure shorts weren't covering on the down move. THIS is how I knew. For sure. It's in the market data itself. + +**edit** *So, there's feedback in the comments that this is likely more of a technical glitch. Man, at least it was hilarious in the moment. But also now I know maybe not to trust price updates when the spread between orders being posted is so wide. Maybe a technical limitation of TOS* + +I'll admit, I tried to one-up those bros with a 4206.90 limit sell order, but it never made it through. I'm impressed that the HFT guys at the hedge fund must have realized really quickly what a morale booster that kind of thing would have been, and kept a lower backstop ask in place almost continuously from then on I'm sure others tried the same thing. Occasionally $1,000 and other high-dollar asks would peak through from time to time from then on, which told me the long-side HFTs were probably successfully sniping the backstops regularly. + +So, translating for those of you who found that confusing. First, such a high ask is basically a FU to the short-side (who, as you remember, need to eventually buy shares to cover their short positions). More importantly, as an indicator of retail sentiment, it meant that NO ONE ELSE WAS TRYING TO SELL AT ANY PRICE LOWER THAN $5,000. Absolutely no one was bailing out. + +I laughed for a minute, then started getting a little worried. Holy cow.. NO retail selling into the fear? How are they resisting that kind of price move?? + +The answer, as we all know now... they weren't afraid... they weren't even worried. They were F\*CKING PISSED. + +Meanwhile the momentum guys and long-side HFTs keep gobbling up the generously donated shares that the short-side are plowing into their ladder attack. Lots of HFT duels going on as long-side HFTs try to intercept shares meant to travel between short-side HFT accounts for their ladder. You can tell when you see prices like $227.0001 constantly flying across the tape. Retail can't even attempt to enter an order like that--those are for the big boys with privileged low-latency access. + +The fact that you can even see that on the tape with human eyes is really bad for the short-side people. + +Why, you ask? Because it means liquidity is drying up, and fast. + +# The Liquidity Tide is Flowing Out Quickly. Who's Naked (short)? + +Market technicals time. I still wish this sub would allow pictures so I could throw up a chart, but I guess a table will do fine. + +&#x200B; + +|Date|Volume|Price at US Market Close| +|:-|:-|:-| +|Friday, 1/22/21|197,157,196|$65.01| +|Monday, 1/25/21|177,874,00|$76.79| +|Tuesday, 1/26/21|178,587,974|$147.98| +|Wednesday, 1/27/21|93,396,666|$347.51| +|Thursday, 1/28/21|58,815,805|$193.60| + +What do I see? I see the shares available to trade dropping so fast that all the near-exchange compute power in the world won't let the short-side HFTs maintain order flow volume for their attacks. Many retail people asking me questions thought today was the heaviest trading. Nope--it was just the craziest. + +What about the price dropping on Thursday? Is that a sign that the short-side pulled a miracle out and pushed price down against a parabolic move on even less volume than Wednesday? Is the long side running out of capital? + +Nope. It means the short-side hedge funds are just about finished. + +But wait, I thought the price needed to be higher for them to be taken out? How is it that price being lower is bad for them? Won't that allow them to cover at a lower price? + +No, the volume is so low that they can't cover any meaningful fraction of their position without spiking the price parabolic almost instantly. Just not enough shares on offer at reasonable prices (especially when WSB keeps flashing you 6942.00s). + +It's true, a higher price hurts, but the interest charge for one more day is just noise at this point. The only tick that will REALLY count is the last tick of trading on Friday. + +In the meantime, the price drop (and watching the sparring in real time) tells me that the long-side whales and their HFT quants are so certain of the squeeze that they're no longer worried AT ALL about whether it will happen, and they aren't even worried at all about retail morale to help carry the water anymore. + +Instead, they're now really, really worried about how CHEAPLY they can make it happen. + +They are wondering if they can't edge out just a sliver more alpha out of what will already be a blow-out trade for the history books (probably). You see, to make it happen they just have to keep hoovering up shares. It doesn't matter what those shares cost. If you're certain that the squeeze is now locked in, why push the price up and pay more than you have to? Just keep pressing hard enough to force short-side to keep sending those tasty shares your way, but not so much you move the price. Short-side realizes this and doesn't try to drive price down too aggressively. They can't afford to let price run away, so they have to keep some pressure on at the lowest volume they can manage, but they don't want to push down too hard and give the long-side HFTs too deep of a discount and bleed their ammo out even faster. That dynamic keeps price within a narrow (for GME today, anyway) trading range for the rest of the day into the close. + +Good plan guys, but those after market people are pushing the price up again. Damnit WSB bros and Euros, you're costing those poor long-side whales their extra 0.0000001% of alpha on this trade just so you can run up your green rockets... See, that's the kind of nonsense that just validates [Lee Cooperman's](https://youtu.be/mI-nItz56Fs?t=279) concerns. + +On a totally unrelated note, I have to say that I appreciate the shift in CNBC's reporting. Much more thoughtful and informed. Just please get a good market technician in there who will be willing to talk about what is going on under the hood if possible. A lot of people watching on the sidelines are far more terrified than they need to be because it all looks random to them. And they're worried that you guys look confused and worried--and if the experts on the news are worried....??! + +You should be able to find one who has access to the really good data that we retailers can only guess at, who can explain it to us unwashed masses. + +# Ok, So.. Questions + +**There is no market justification for this. How can you tell me is this fundamentally sound and not just straight throwing money away irresponsibly??** *(side note: not that that should matter--if you want to throw your money away why shouldn't you be allowed to?)* + +We're not trading in your securities pricing model. This isn't irrational just because your model says long and short positions are the same thing. The model is not a real market. There is asymmetrical counterparty risk here given the shorts are on the hook for all the money they have, and possibly all the money their brokers have, and possibly anyone with exposure to the broker too! You may want people to trade by the rules you want them to follow. But the rest of us trade in the real market as it is actually implemented. Remember? That's what you tell the retailers who take their accounts to zero. Remember what you told the KBIO short-squeezed people? They had fair warning that short positions carry infinite risk, including more than your initial investment. You guys know this. It's literally part of your job to know this. + +But-but-the systemic risk!! This is Madness! + +...Madness? + +THIS. IS. **THE MARKET!!! \*Retail kicks the short-side hedge funds down an infinity loss black hole\***. + +Ok, seriously though, that is actually a fundamentally sound, and properly profit-driven answer at least as justifiable as the hedge funds' justification for going >100% of float short. If they can be allowed to gamble INFINITE LOSSES because they expect to make profit on the possibility the company goes bankrupt, can't others do the inverse on the possibility the company I don't know.. doesn't go bankrupt and gets a better strategy from the team that created what is now a $43bn market cap company (CHWY) that does exactly some of the things GME needs to do (digital revenue growth) maybe? I mean, I first bought in on that fundamental value thesis in the 30s and then upped my cost basis given the asymmetry of risk in the technical analysis as an obvious no-brainer momentum trade. The squeeze is just, as WSB people might say, tendies raining down from on high as an added bonus. + +I get that you disagree on the fundamental viability of GME. Great. Isn't that what makes a market? + +Regarding the consequences of a squeeze, in practice my expectation was maybe at worst some kind of ex-market settlement after liquidation of the funds with exposure to keep things nice and orderly for the rest of the market. I mean, they handled the VW thing somehow right? I see now that I just underestimated elite hedge fund managers though--those guys are so hardcore (I'll explain why I think so a bit lower down). + +**If hedge fund people are so hardcore, how did the retail long side ever have a chance of winning this squeeze trade they're talking about?** + +Because it's an asymmetrical battle once you have short interest cornered. And the risk is also crazily asymmetrical in favor of the long side if short interest is what it is in GME. In fact, the hedge funds essentially cornered themselves without anyone even doing anything. They just dug themselves right in there. Kind of impressive really, in a weird way. + +What does the short side need to cover? They need the price to be low, and they need to buy shares. + +How does price move lower? You have to push share volume such that supply overwhelms demand and price therefore goes down (man, I knew econ 101 would come in handy someday). + +But wait... if you have to sell shares to push the price down.. won't you just undo all your work when you have to buy it back to actually cover? + +The trick is you have to push price down so hard, so fast, so unpredictably, that you SCARE OTHER PEOPLE into selling their shares too, because they're scared of taking losses. Their sales help push the price down for free! and then you scoop them up at discount price! Also, there are ways to make people scared other than price movement and fear of losses, when you get right down to it. So, you know, you just need to get really, really, really good at making people scared. Remember to add a line item to your budget to make sure you can really do it right. + +On the other hand.. + +What does the long side need to do? They need to own as much of the shares as they can get their hands on. And then they need to hold on to them. They can't be weak hands either. They need to be hands that will hold even under the most intense heat of battle, and the immense pressure of mind-numbing fear... they need to be as if they were made of... diamond... (oh wow, maybe those WSB people kind of have a point here). + +Why does this matter? Because at some point the sell side will eventually run out of shares to borrow. They simply won't be there, because they'll be safely tucked away in the long-side's accounts. Once you run out of shares to borrow and sell, you have no way to move the price anymore. You can't just drop a fat stack--excuse me, I mean suitcase (we're talking hedge fund money here after all)--of Benjamins on the ticker tape directly. Only shares. No more shares, no way to have any direct effect on the price whatsoever. + +Ok, doesn't that just mean trading stops? Can't you just out-wait the long side then? + +Well, you could.. until someone on the long side puts 1 share up on a 69420 ask, and an even crazier person actually buys at that price on the last tick on a Friday. Let's just say it gets really bad at that point. + +Ok.. but how do the retail people actually get paid? + +Well, to be quite honest, it's entirely up to each of them individually. You've seen the volumes being thrown around the past week+. I guarantee you every single retailer out there could have printed money multiple times trading that flow. If they choose to, and time it well. Or they could lose it all--this is the market. Some of them apparently seem to have some plan, or an implicit trust in certain individuals to help them know when to punch out. Maybe it works out, but maybe not. There will be financial casualties on the field for sure--this is the bare-knuckled capitalist jungle after all, remember? But everyone ponied up to the table with their own money somehow, so they all get to play in the big leagues just like everyone else. In theory, anyway. + +And now, Probably the #1 question I've been asked on all of these posts has been: **So what happens next?** Do we get the infinity squeeze? Do the hedge funds go down? + +Great questions. I don't know. No one does. That's what I've said every time, but I get that's a frustrating answer, so I'll write a bit more and speculate further. Please again understand these are my opinions with a degree of speculation I wouldn't normally put in a post. + +# The Market and the Economy. Main Street, Wall Street, and Washington + +The pandemic has hurt so many people that it's hard to comprehend. Honestly, I don't even pretend to be able to. I have been crazy fortunate enough to almost not be affected at all. Honestly, it is a little unnerving to me how great the disconnect is between people who are doing fine (or better than fine, looking at my IRA) versus the people who are on the opposite side of the ever-widening divide that, let's be honest, has been growing wider since long before the pandemic. + +People on the other side--who have been told they cannot work even if they want to, who wonder if congress will get it together to at least keep them from getting thrown out of their house if they have to keep taking one for the team for the good of all, are wondering if they're even living in the same reality. + +Because all they see on the news each day is that the stock market is at record highs, or some amazing tech stocks have 10x'd in the last 6 months. How can that be happening during a pandemic? Because The Market is not The Economy. The Market looks forward to that brighter future that Economy types just need to wait for. Don't worry--it'll be here sometime before the end of the year. We think. We're making money on that assumption right now, anyway. Oh, by the way, if you're in The Market, you get to get richer as a minor, unearned side-effect of the solutions our governments have come up with to fight the pandemic. + +Wow. That sounds amazing. How do I get to part of that world? + +Retail fintech, baby. Physical assets like real estate might be a bit out of reach at the moment, but stocks will do. I can even buy fractional shares of BRK/A LOL. + +Finally, I can trade for my own slice of heaven, watching that balance go up (and up--go stonks!!). Now I too get to dream the dream. I get to feel connected to that mythical world, The Market, rather than being stuck in the plain old Economy. Sure, I might blow up my account, but that's because it's the jungle. Bare-knuckled, big league capitalism going on right here, and at least I get to show up an put my shares on the table with everyone else. At least I'm playing the same game. Everyone has to start somewhere--at least now I get to start, even if I have to learn my lesson by zeroing my account a few times. I've basically had to deal with what felt like my life zeroing out a few times before. This is number on a screen going to 0 is nothing. + +Laugh or cry, right? I'll post my losses on WSB and at least get some laughs. + +Geez, some of the people here are making bank. I better learn from them and see if they'll let me in on their trades. Wow... this actually might work. I don't understand yet, but I trust these guys telling me to hold onto this crazy trade. I don't understand it, but all the memes say it's going to be big. + +...WOW... I can pay off my credit card with this number. Do I punch out now? No? Hold?... Ok, getting nervous watching the number go down but I trust you freaks. We're still in the jungle, but at least I'm in with with my posse now. Market open tomorrow--we ride the rocket baby! And if it goes down, at least I'm going down with my crew. At least if that happens the memes will be so hilarious I'll forget to cry. + +Wow.. I can't believe it... we might actually pull this off. Laugh at us now, "pros"! + +We're in The Market now, and Market rules tell us what is going to happen. We're getting all that hedge fund money Right? Right? + +Maybe. + +First, I say maybe because nothing is ever guaranteed until it clears. Secondly, because the rules of The Market are not as perfectly enforced as we would like to assume. We are also finding out they may not be perfectly fair. The Market most experts are willing to talk about is really more like the ideal The Market is supposed to be. This is the version of the market I make my trading decisions in. However, the Real Market gets strange and unpredictable at the edges, when things are taken to extremes, or rules are pushed beyond the breaking point, or some of the mechanics deep in the guts of the Real Market get stretched. GME ticks basically all of those boxes, which is why so many people are getting nervous (aside from the crazy money they might lose). It's also important to remember that the sheer amount of money flowing through the market has distorting power unto itself. Because it's money, and people really, really, really like their money--especially when they're used to having a lot of it, and rules involving that kind of money tend to look more... flexible, shall we say. + +Ok, back to GME. If this situation with GME is allowed to play out to its conclusion in The Market, we'll see what happens. I think all the long-side people get the chance to be paid (what, I'm not sure--and remember, you have to actually sell your position at some point or it's all still just numbers on your screen), but no one knows for certain. + +But this might legitimately get so big that it spills out of The Market and back into The Economy. + +Geez, and here I thought the point of all of this was so that we all get to make so much money we wouldn't ever have to think and worry about that thing again. + +Unfortunately, while he's kind of a buzzkill, [Thomas Petterfy](https://www.youtube.com/watch?v=7RH4XKP55fM) has a point. This could be a serious problem. + +It might blow out The Market, which will definitely crap on The Economy, which as we all know from hard experience, will seriously crush Main Street. + +If it's that big a deal, we may even need Washington to be involved. Once that happens, who knows what to expect.. this kind of scenario being possible is why I've been saying I have no idea how this ends, and no one else does either. + +How did we end up in this ridiculous situation? From GAMESTOP?? And it's not Retail's fault the situation is what it is.. why is everyone telling US that we need to back down to save The Market?? What about the short-side hedge funds that slammed that risk into the system to begin with?? We're just playing by the rules of The Market!! + +Well, here are my thoughts, opinions, and some even further speculation... This may be total fantasy land stuff here, but since I keep getting asked I'll share anyway. Just keep that disclaimer in mind. + +# A Study in Big Finance Power Moves: If you owe the bank $10,000, it's your problem... + +What happens when you owe money you have no way to pay back? It's a scary question to have to face personally. Still, on balance and on average, if you're fortunate enough to have access to credit the borrowing is a risk that is worth taking (especially if you're reasonably careful). Lenders can take a risk loaning you money, you take a risk by borrowing in order to do something now that you would otherwise have had to wait a long time or maybe would never have realistically been able to do otherwise. Sometimes it doesn't work out. Sometimes it's due to reasons totally beyond your control. In any case, if you find yourself there you have no choice but to dust yourself off, pick yourself up as best as you can, and try to move on and rebuild. A lot of people had to learn that in 2008. Man that year really sucked. + +Wall street learned their lessons too. Most learned what I think most of us would consider the right lessons--lessons about risk management, and the need to guard vigilantly against systemic risk, concentration of risk through excess concentration of leverage on common assets, etc. Many suspect that at least a few others may have learned an entirely different set of, shall we say, unhealthy lessons. Also, to try to be completely fair, maybe managing other peoples' money on 10x+ leverage comes with a kind of pressure that just clouds your judgement. I could actually, genuinely buy that. I know I make mistakes under pressure even when I'm trading risk capital I could totally lose with no real consequence. Whatever the motive, here's my read on what's happening: + +First, remember that as much fun as WSB are making of the short-side hedge fund guys right now, those guys are smart. Scary smart. Keep that in mind. + +Next, let's put ourselves in their shoes. + +If you're a high-alpha hedge fund manager slinging trades on a $20bn 10x leveraged to 200bn portfolio, get caught in a bad situation, and are down mark-to-market several hundred million.. what do you do? Do you take your losses and try again next time? Hell no. + +You're elite. You don't realize losses--you double down--you can still save this trade no sweat. + +But what if that doesn't work out so well and you're in the hole >$2bn? Obvious double down. Need you ask? I'm net up on the rest of my positions (of course), and the momentum when this thing makes its mean reversion move will be so hot you can almost taste the alpha from here. Speaking of momentum, imagine the move if your friends on TV start hyping the story harder! Genius! + +Ok, so that still didn't work... this is now a frigging 7 sigma departure from your modeled risk, and you're now locked into a situation that is about as close to mathematically impossible to escape as you can get in the real world, and quickly converging on infinite downside. Holy crap. The fund might be liquidated by your prime broker by tomorrow morning--and man, even the broker is freaking out. F'in Elon Musk and his twitter! You're cancelling your advance booking on his rocket ship to Mars first thing tomorrow... Ok, focus--this might legit impact your total annual return. You need a plan, and you know the smartest people on the planet, right? The masters of the universe! Awesome--they've even seen this kind of thing before and still have the playbook!! Of course! It's obvious now--you borrow a few more billion and double down again first thing in the morning. So simple. Sticky note that Mars trip cancellation so you don't forget. + +Ok... so that didn't work? You even cashed in some pretty heavy chits too. Ah well, that was a long shot anyway. So where were you? Oh yeah.. if shenanigans don't work, skip to page 10... + +...Which says, of course, to double down again. Anyone even keeping track anymore? Oh, S3 says it's $40bn and we're going parabolic? Man, that chart gives me goosebumps. All according to plan... + +***So what happens tomorrow? One possible outcome of PURE FANTASTIC SPECULATION...*** + +End of the week--phew. Never though it'd come. Where are you at now?... Over $9000^(\*)!!! Wow. You did it boys, and as a bonus the memes will be so sweet. + +^(\*)*side note: add 8 zeros to the end...* + +Awesome--your problems have been solved. Because... + +&#x200B; + +.. + +&#x200B; + +**BOOM** + +&#x200B; + +Now it's **EVERYONE's** problem. [Come at me, Chamath](https://twitter.com/chamath/status/1353886305277472768), **THIS** is **REAL** baller shit. + +Now all you gotta do is make all the hysterical retirees watching their IRAs hanging in the balance blame those WSB kids. Hahaha. Boomers, amirite? hate when those kids step on their law--I mean IRAs. GG guys, keep you memes. THAT is how it's done. + +Ok, but seriously, I hope that's not how it ends. I guess we just take it day by day at this point. + +Apologies for the length. Good luck in the market! + +Also, apologies in advance for formatting, spelling, and grammatical errors. I was typing this thing in between doing all kinds of other things for most of the day. + +**Edit** getting a bunch of questions on if it's possible the hedge funds are finding ways to cover in spite of my assumptions. Of course. I'm a retail guy trying to read the charts and price action. I don't have any special tools like the pros may have. +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? +AutoModerator has been up all night looking at charts and seems to have fallen asleep + +*** + +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! + +Stop panic selling. The short sellers are trying to scare you with what robinhood did. Just hold and go on a different app that'll let you buy and sell GME, AMC, BB again. Don't let them scare you and don't let them win! +Without all the crap shilling happening, I would like to know which gems, based on fundamentals, tokenomics and market sectors you guys think have a lot of potential to keep growing in the next few years. Thanks! +I’m 39, and a few years out from retiring (43). My net worth is about $3 million. And the only real job I’ve ever had is in the Army. I own three rental properties because the army makes me move every few years. (In 16 years I’ve never had a problem filling a house next to a military base) + +The leadership tells me how to get promoted. There’s no politics in it until (maybe) O6 (colonel). + +Strategically there’s three rules. +1) be an officer +2) volunteer for every deployment to a tax free zone. +3) don’t get divorced. + +It’s not easy, but the money is guaranteed. + +My pension is going to be worth about $63k a year. (With my portfolio, Is this FatFIRE?) +Hello! I am in the midst of writing several articles about the Canadian housing crisis. I am looking into the various arguments for/against landlords economic value in the economy. +- What are some potential implications to an economy if being a landlord is more profitable than being innovative? +- what role or necessity to landlords play in an economy? (Not developers but just landlords) + +Any articles/sources are welcomed. Ideally tailored to the non economic reader. Thanks +I have bounced around on this sub for the past few months and I really to have to say it’s disappointing. + +I mostly index, because I recognize few people can beat the market. I pick stocks for 5% of my portfolio and thought this would be a breath of fresh air compared to r/stocks. I was wrong. This sub really seems to be pretty low quality in terms of discussion, and many people seem to chase returns without a fundamental understanding of investing. + +Most people seem to be under the impression that “big company” + “low PE” = great investment. The impulse to chase the most recent shiny thing in the news is so clear. + +For a sub that really presents itself on a model made popular by Warren Buffet, many don’t seem to follow his philosophy at all. +I just received an unsolicited email on a protonmail email ID which I use exclusively for Zerodha. + +It's an advertisement for commoditybiz.in from a generic email garv4youlove@*****.com. + +Domain authenticition has also failed. + +I have taken great pains to ensure that this email ID is dedicated and never given out anywhere else or logged in from unknown machines or browsers. We all know once an email ID is out on the market the list is sold ad nauseum very quickly. + +As a long time member of this sub I know people take cyber security seriously here and would rather not put this on Twitter before asking here. + +Paging /u/nithin_kamath /u/knadh_zerodha + +Is this a genuine email from you guys or has there been a breach? + +I'm willing to provide the screenshots of the email barring my personal details. + +Needless to say this is not acceptable. +Correct me if I am wrong, but Economics is indirectly the study of human choices, humans who are usually not rational. So Psychology seems to be a good solution instead of relying on rational choices in Maths like Game Theory. And afaik, Psychology has been incorporated with Economics in a branch called Behavioural Economics. + +So why don't every Economist move to Behavioural Economics? Why still depend on the old paradigm of mathematical models and neoclassical/synthesis Economics? I got this interesting [question on ResearchGate similar to mine](https://www.researchgate.net/post/Why-do-economists-continue-to-use-quantitative-methods-knowing-that-collectives-cannot-be-reduced-to-individuals). In it, there are some 'interesting' answers: + +> Economics is a new, although non revealed Religion, since it argues that we have to do this and that in order to maximize our objective function (profit or social welfare). Of course there exists the Arrow's impossibility theorem: http://en.wikipedia.org/wiki/Arrow's_impossibility_theorem. Personally, after studying an intensive MPhil program in Economics, I am sure that they simply don't care about the predictability of theory, they just care about conquering higher positions in the Bank sector, big multinational organizations like EU, IMF etc. In a few words: Every body knows that the Standard Model cannot predict anything, but they use it in a normative sense: If you cut the wages, then ... and finally ... the growth will start again and bla bla bla... (See the failures of IMF in Greece recently.) + +> I think the mathematicians who calculate "risks" are using the false mathematics or they are getting some money to conclude that the "products" have small risks! I checks the books of mathematics that they teach in economic departments. Nothing exists e.g of fuzzy logic, and non-classical mathematics. I believe that this is one basic reason for the situation that have been imposed on some countries, e.g. Greece! + +> These models should take socio-political factors in their equation, not only BLIND and predicted figures and numbers as my dear friend Costas suggested (False mathematics) + +> Dear James, the Economics literature is full of endogenous and exogenous variables. The problem is not the accuracy of the data input, since every regression is a projection and given that, if errors have zero mean, we have no problems at all. The problem is that: 1)Either we have sticked with Standard Neoclassical Model, like living in 1870 where the inventions of Thermodynamics were the top knowledge. 2)Or we are using Econometrics, tons of it, with so many sub-branches but an overall R-squared of 0.05! So, probably the mathematics used in Economics are either not updated (1870) and false, as Costas wrote, or simply cannot be applied (since R^2=0.05). At any case, Economists do exactly know their lack of ability and, they just continue to reproduce normative teachings. The problem would be one more of a scientific debate, if they were not able to cut our wages and our living standards... +I get the value of insurance for farmers and merchants because it amortizes breakage over millions of people over decades, so one sunk ship or one bad harvest don't drive people to bankruptcy. But health insurance seems different. + +For me to benefit from health insurance, I should get more in healthcare value than any dollar value I lose in my monthly premium. But for the insurance company to benefit from my subscription, they should deliver less healthcare value than the dollar value I pay to them + overhead + profit margins. And that's assuming all insurances companies act in good faith and pay what they promise and in time. And if you count the penalties against pre-exsiting conditions, it seem like health insurance can only pay off if you will suffer from unexpected health conditions after signing the contract, which is a really poor way of "turning profit". + +So why should insurance ever be more affordable than paying out of pocket? It seems like insurance is a gamble. You bet you're going to get sicker than what you pay for, and the insurance company bets you're going to be healthier than what you pay. Being that any bet the insurance company makes against you (anything they quote you is bet they feel confident making) is backed by more data and analytics than you will ever be able to match them. Sure some people can profit, but in practical terms, the house always comes out on top. So why is it ever beneficial to have a health insurance? +Context here: [Spoof on CRED](https://youtu.be/lGmwMHsii04) + +Note: This post might seem like bit of rant. But I want to know from fellow CRED users if they have been able to use the coins to anything meaningful apart from cashback. + +I have been using CRED app for almost 2 years now. Till this day I found cashback is the only worthwhile feature. Apart from the miniscule cashback I haven't used my coins on any other rewards. + +None of the feature rewards offers excite me, as almost all products listed are available at cheaper price directly in market. Imagine sitting with more than 10 lakh worthless coins, it's frustrating to say the least. + +The MagicPin Vijay Raaz spoof youtube advertisement exposes this aspect of CRED. + +Edit 27-Apr-2021 : As shared by few here, let's burn all CRED points to contribute to oxygen delivery by Milaap. Hope it reaches properly to the needy. +How’d u do it? +When did you start? +How long did it take? +What’s the current value of your portfolio? +And if you are retired what do you do now since you no longer need to work? +Please no political debate. I'm just curious from an economic standpoint how these businesses stay around yet I see plenty of other companies (small to large enterprise) not surviving 2020. +What if the employees in any company or workers in any factory had part ownership of the private enterprise ? There is no state controlled distribution like in a communist system, everything is privately owned by the people who work in the particular company. + +I started reading Das Kapital recently, and the Part 3 : "Production of absolute Surplus Value" struck me. What if the workers too had equal risk in the enterprise as the investor - in both profit and loss ? + +Workers owning the means of production would certainly help with the productivity, especially after an incentive to profit right ? Then why isn't a system like this in place ? +I know I've read this here before but had a real-life experience with it yesterday that I thought I'd share. + +Going into the interview I was hoping/expecting that the range for the salary would be similar to where I am now. When the company recruiter asked me what my target salary was, I responded by asking, "What is the range for the position?" to which they responded with their target, which was $30k more than I was expecting/am making now. Essentially, if I would have given the range I was hoping for (even if it was +$10k more than I am making it now) I still would have sold myself short. + +Granted, this is just an interview and not an offer- but I'm happy knowing that I didn't lowball myself from the getgo. +I've noticed an up tick in posts about people feeling they're a failure, starting too late and unhappy about their savings rate. + +My guess is that in many cases people feel like this because there are posts frequently about people on $100K a year with $150K in savings and asking what to do with their money. + +For all who a are anxious about this, let me tell you. Majority of people in Australia and on this sub are not earning such amounts and many do not have anywhere near as much savings. They are outside the bell curve! Do not compare yourself to such earners! + +If you're $50K a year and manage to save $20K - 25K you are doing very well. In 2 years that's $50K, in 4 years it's $100K (Not including any interest growth). + + +To all that are saving $5K a year, you are doing well. Keep going. + +To all that are saving $10K a year, you are doing well. Keep going. + +To all that are saving $20K a year, you are doing well. Keep going. + +Do not let doubt get in the way of your savings. Savings is cumulative. + +"Water can break concrete with enough time" + +Just keep plugging away fellow AusFinance members! +We do this once a year in this sub and I think now is the time. + +Please post the mutual funds you have invested in and also share your rationale behind selecting that fund. + +This would not only help people who have just started investing in mutual funds but also to those semi experienced people. We can adjust our portfolios accordingly. + +It would be helpful to mention the number of years you are planning to invest in the selected mutual funds and weather you have done SIP or Lumpsum. + +Thanks in advance. + +PLEASE UPVOTE THE POST TO GET MORE VISIBILITY. IF SOMEONE CAN PIN THE POST FOR A DAY THAT WOULD BE GREAT TOO. +Let’s say, for example, the car is somewhere around $250,000. How much money would someone have to make (without any bottlenecks) that would allow them to live comfortably with a car like that? + +Is there a rule of thumb for how much money should be spent on specific assets? +I guess I could crosspost this to r/AskHistorians as well. + +The main thesis of Guns, Germs and Steel is how our environment shapes our societal evolutionary trajectory and the main thesis of Why Nations Fail (more generally Acemoglu's work) is that geography has little to no influence on the way societes evolve but rather institutions are the key factor. + +Acemoglu gives the example of North/South Korea to illustrate how geography is not a significant factor but also has other published works in which he details how African societes evolved with regards to the colonial period and demonstrate that being closer to the equator does not play a significant role. + +Are these two contradictory or am I reducing them too much to allow them to coexist ? + +Thanks + +Edit: thank you so much for your answers everyone, I'll try to read them all and answer if I have any contribution to make +It’s just a circle jerk of someone with 23% VOO to someone with 25.5% VOO then a smattering of the most popular ETFs. This sub is boring as fuck. It’s the same shit daily. “Ohhhh I’m 123 years old and I put $900 into VOO and ARK series ETFs when you said they would dip” + +Fuckin hell + +https://nypost.com/2020/03/25/richard-burr-sued-for-dumping-stocks-ahead-of-coronavirus-panic/ + + +The lawsuit accuses Burr of violating the STOCK Act, a 2012 law that bans members of Congress from profiting from non-public information they learn on the job. Burr was one of just three senators to vote against the law. +TLDR; OCC asking SEC if they can manipulate the market + +[\\"thereunder\\" - in accordance with the thing mentioned](https://preview.redd.it/5s8zzu2fkop71.png?width=991&format=png&auto=webp&s=8d4b15a8223f2b7a25110c0e9e62654f1e77d115) + +**This order approves the Proposed Rule Change.** + +https://preview.redd.it/ny0x7itjkop71.png?width=816&format=png&auto=webp&s=0204d59b72b2d4d13d8148d4e26785c36dee8b42 + +What this means is that OCC is asking the SEC to give them more room for manipulation. With these rules implemented, their board of directors would have more power in electing, clarifying authority and make other administrative changes. + +[wtf](https://preview.redd.it/wn78ybzkkop71.png?width=1066&format=png&auto=webp&s=b1b9448b5964fd015d1f5881718489c277594b88) + +1. Rule 1104(b) - authority to delay the immediate liquidation of a suspended Clearing Member’s margin deposits and to use such deposits to borrow or otherwise obtain funds from third parties +2. Rule 1106(e) - authority to determine not to close out a suspended Clearing Member’s unsegregated long positions or short positions in options or BOUNDs, or long or short positions in futures +3. **Rule 1106(f) - authority to execute hedging transactions to reduce the risk associated with any collateral or positions not immediately liquidated or closed out pursuant to Rules 1104(b) and 1006(e)** + +[Link to the rules.](https://www.theocc.com/getmedia/e8792e3c-8802-4f5d-bef2-ada408ed1d96/default-rules-and-procedures.pdf;) + +I'll keep reading but need apes help to understand what this really means. + +edit1: rule 1104(b) + +[if chairman of president think liquidation is not good for occ, NO LIQUIDATION](https://preview.redd.it/7rik866nkop71.png?width=846&format=png&auto=webp&s=201ccbf74273496fef0b0f4c4f41d6727bebc6a8) + +rule 1106(e) + +[if chairman, ceo or coo think that closing suspended clearing members longs\/shorts in futures is not good for occ, NO CLOSING POSITIONS](https://preview.redd.it/co98j8xpkop71.png?width=804&format=png&auto=webp&s=226243750535f81485eea795257eb6c1e9821ce6) + +rule 1106(f) + +[if chairman, ceo or coo think that occ can't close longs\/shorts in options or BOUNDs, or can't close longs\/shorts in futures, or can't liquidate margin deposits of a suspended clearing member, NO CLOSING POSITIONS AND NO LIQUIDATION](https://preview.redd.it/zlij1nvrkop71.png?width=790&format=png&auto=webp&s=0c9d59e7cb2ae6ebb2f57b56dccc69d42c64ab91) + +edit6: thanks u/Blanderson_Snooper + +https://preview.redd.it/3tliqojxkop71.png?width=833&format=png&auto=webp&s=945765fb9f62c59325a8645cec34851e3934926c + +edit8: could this possibly be a good thing? ask u/Rejectbaby + +https://preview.redd.it/rwadcgfzkop71.png?width=882&format=png&auto=webp&s=7117435650306632e9bb9fb675fc80eabb9914cb + +edit11: okay, we've got CFTC coming in hot. [Link to document.](https://www.cftc.gov/sites/default/files/filings/orgrules/20/06/rule060920occdco001.pdf) Again, don't be angry, keep a cool & clear head and ~~let's oust these motherfuckers.~~ Let's find out what this really means. + +>The proposed rule change by OCC concerns enhancements to OCC’s overall framework for +> +>managing liquidity risk. Specifically, the proposed changes would: + +&#x200B; + +https://preview.redd.it/ubfs9l6fnop71.png?width=969&format=png&auto=webp&s=23b75f587cbe875e056c050f4354714b84389084 + +https://preview.redd.it/7i11pl9gnop71.png?width=963&format=png&auto=webp&s=ac8e5b82cf490cdc892cb5792486fb0f250da91b + +edit12: thanks u/KosmicKanuck for this comment, check their 3rd edit, [link to the comment](https://www.reddit.com/r/Superstonk/comments/pv5z2v/comment/he7wyzq/?utm_source=share&utm_medium=web2x&context=3) + +https://preview.redd.it/b0du0yhvqop71.png?width=871&format=png&auto=webp&s=94c97e10023aef7e0e1a702769563ddcc7afc545 + +edit13: to clarify, rules 1104 and 1106 have been around for a while, this filing doesn't say that these rules are changed, only that OCC's board of directors and lower level execs can now enact these rules. This, to me, implies that somebody might plant someone (or already has) in the OCC board and they're sitting there like a manchurian candidate. Could be wrong. *drops mic* + +*picks up mic* edit 14: okay, I've been made aware that some of the things I said look like I'm calling for action and that wasn't my intention so I removed them and cleaned up irrelevant edits, and left the ones I believe are more relevant to the topic. There is also this [*counterpost*](https://www.reddit.com/r/Superstonk/comments/pvc7l7/occ_fud_is_being_spread_and_smooth_brains_are_too/)*,* make of it what you will, but it basically lists the same comments that I listed in my edits. + +OP of that post also says: + +>**Stop getting emotional about things you don't understand. Be zen.** + +It is unfortunate that this is how the post ends. There is, of course, more to the story then just staying zen. And just because I removed the stuff that looks FUDdy doesn't mean that I won't call for action. Fuck that. This is now a call for action. I had no idea until I found this that the market is **this manipulated**. These institutions are literally cheating and destroying the meaning of free markets. I invite every ape able to write to their representatives, ask questions on their twitters, if you don't understand something, just as OP said there, don't get emotional, **but don't just be zen either**. If you are able to do something to stop these things from happening again, then do it. + +I left a quote from Mike Tyson earlier but I believe this one is more appropriate. + +*Injustice anywhere is a threat to justice everywhere.* + +&#x200B; +An average house in London could be bought at £400 000, at current rate it’s (£1=$1.39) $556 000. + +Let’s divide that by current $O price $65.25. + +$556 000 / $65.25 = 8 521 shares. + +Now let’s multiply these 8 521 shares by their [current dividend.](https://www.nasdaq.com/market-activity/stocks/o/dividend-history) + +8 522 x 0.235 = $2002 monthly! + + +At the same time if I bought said house I’d be able to charge £1400 rent which gives me $1946 but I’d also have to be bothered with tenants maintenance etc. + +Are there any flaws in my logic? Is investing in O more efficient than purchasing a house? +I know this is gonna seem like a stupid question but hear me out. + +We all know that if more people are buying, then the price goes up, and if more people are selling then the price goes down. But how does this actually work? What ACTUALLY determines the market price of a stock that I see on my screen right now? + +For every person that buys a stock, someone has to sell it to them, and vice versa right? So that means that the simple action of buying a stock can't push the price higher, because behind every BUY is a SELL. + +What/who is actually changing the price of the stock in the market? + +Again sorry for the dumb question. +These swings are gut-wrenching and this one is particularly gruesome. However, as some have pointed out... these happen with relative frequency in crypto land and every single violent dip has (eventually) been met with a return to ATHs. + +I find the dips aren't so scary if you stop and understand why crypto is uniquely insane with volatility. + +1. Crypto's market cap is still small compared to, say, global stocks. Total crypto market cap is $278 billion right now. Apple almost has that much *cash on hand*. This lack of inertia means it can fly all over the place. +2. Crypto is basically completely unregulated. That means money can come and go extremely rapidly. In most markets, large banks have to account for what they are doing most of the time. This red tape provides a degree of smoothing you don't get in crypto. +3. Crypto investors are relatively young and emotional, leading to exaggerated panic selling and FOMO. Seasoned investors have emotions too, but act more methodically. They would, for instance, have scheduled accumulation or divestment plans rather than waking up one day and saying 'oh shit' and pressing the sell (or buy) button. +4. Crypto investors are relatively young and inexperienced. Rather than focus on fundamentals like developer mindshare, network effects, scalability, roadmaps, etc and make long term bets based on them, they're just chasing hot numbers and looking to get rich overnight. I would venture to guess many young traders didn't even factor in taxes when trading during 2017, which may be the true cause of this panic selloff; folks are having to liquidate completely just to pay the tax man. + +There are probably more, but these are the big ones. + +The good news is that none of this undermines the central promise of cryptocurrency or Ethereum. + +1. Crypto took off because people woke up to its power: autonomous computational services. DNS with no ICANN. Casinos with House. Checking accounts with no bank. This is a big, big, BIG deal from an innovation perspective and everyone knows it. +2. Ethereum is *by far* the coin best-positioned to capitalize due to its existing network effects (primarily developer mindshare at this point), true scarcity (thanks to network effects), strong governance, and coming scalability and privacy improvements. +3. Whichever coin leads will REALLY lead. It won't be like "oh we have Ford and GM and Toyota that are all relatively equal". It will be like Facebook or the Internet itself... network effect dominant. +4. Unlike the late 90s internet, crypto is poised to roll out much faster. The dot com bust happened at a time when the necessary infrastructure simply wasn't there yet and wouldn't be for a decade. We had no broadband and no smartphones. Web 2.0 wasn't even a thing yet... the web was basically still brochureware and some very rudimentary e-commerce. With crypto, there is no hard infrastructure to build. It's already here. We just need CASPER and z-Snarks and what not to be hard-forked in and we're off to the races. There is hard work to be done around UX, security, scams, etc but the road looks a lot easier than building a global IP network to handle trillions of packets a day. + +I'm still a holder of Eth as i have been through all previous downturns. I've watched millions come and go and honestly, with some gains in fiat, these things don't rattle me anymore. I believe in the tech wholeheartedly and think you should too. + + +Hi Everyone + +Since most people get to buy/sell real estate properties (flats, lands, commercial , etc.) only few times in their lifetimes, everyone learns something or the other that they wish they knew before. + +**What was your learning?** + +It could be related to + +* tactics from real estate agents +* some obscure law that you didn't knew about +* something you realized you should have thought of checking/considered before buying that land or flat, etc. +* legal issues or missing some documentation or due diligence +* etc. + +Want to pool your experience and learnings together for everyone to learn from! + +Footnote: Originally posted on r/india but no traction whatsoever. Hoping to get helpful responses from here. +I was reading this book (sci-fi) and early on a character explains to another character what "money" really is. + +I'll just copy-paste, so please bear with me. TY + +--------------------------- + +“To be clear: by ‘money,’ I do not mean the physical instruments—the paper and the coins—but the unit of value that money represents. How does a given unit of money come into existence?” + +Tighe was about to answer when he realized with surprise that he did not know. + +“Do not be embarrassed. Many MBAs do not know either.” + +“The reality is that only 5 percent of all money is created by governments in the form of cash in circulation. The remaining 95 percent of money is created by commercial banks whenever they extend credit to a borrower.” + +Tighe looked at Joyce quizzically. Joyce nodded for him to pay attention. + +“For example, when a new mortgage is originated, that money does not come out of a bank vault. Instead, the money is created as a result of the loan. The bank supplies it to the borrower as a bank credit, with the borrower promising to repay the principal plus interest at a future date. This new debt is registered with a federal reserve or a central bank to the commercial bank’s account, allowing it to now loan out more money based on a multiple of that new loan—usually at a ratio of ten or more to one. So the more money the bank lends, the more it has available to lend.” + +Tighe frowned. “Hold on. How can that be?” + +“Because in the modern world money does not represent value, Mr. Tighe—money represents debt. And the more debt that is created in the world, the more money there is.” + +Tighe looked again at Joyce. + +“To be clear, it is very important that banks get back this virtual money they loan out—and with interest—or the bank will become insolvent. However, as long as loans keep getting repaid, a bank can continue creating new money in the form of credit.” + +“And so it continues, with new money being created all the time as more and more people, companies, and state and local governments borrow. But this system has a weakness . . .” + +Another line appeared on the graph. It was labeled Payments Due and began well above and not far behind the rising debt line—chasing it uphill. + +“Banks lend only the principal. However, loans must be repaid plus interest—and with long-term loans like mortgages, the total interest payments far exceed the principal itself. Unless the overall money supply keeps growing, there will never be enough money to pay back all the loans plus interest. + +This is why we see ‘growth’ as the central mantra of finance. Why consumers are urged to ever-greater consumption, why prices continue to rise—because new debt must feed ever-growing interest requirements. + +Most shocking to the layman is the fact that repaying debt destroys money. If most debts were paid off, far from helping the economy, it would increasingly paralyze it. No debt would mean there was no money. + +Recall the Great Depression, Mr. Tighe. Between 1929 and 1933 the overall US money supply was reduced by nearly a third. As bad loans were written off, there was less money overall to meet interest obligations, resulting in a cascade of failure. The Great Depression wasn’t a case of too much debt. It was a case of too little debt.” + +Tighe raised his eyebrows, bewildered. + +“Debt powers modern economies, which is why it is constantly growing. The greater the debt, the larger the money supply, the more economic activity—but also the more interest that needs to be repaid to keep the system running.” + +------------------- + +I know, I know... I'm reading fiction and I shouldn't take it too seriously, but I was just wondering if there was any basis of truth to this? + +**Thanks** +You want to explain your strategy to a friend or colleague who has a good understanding of financials and/or algorithmic design including the indicators and/or mathematics you rely on. How long will it take for you or how many core indicators do you use? + +The reason why I‘m asking is that I feel my strategy and dependencies has became really complex and I‘m constantly changing things. It feels like a never ending story and its on the edge of that I could almost not say anymore if certain indicators conflict eachother. It feels similar of doing a painting and you question yourself if the next step will ruin or enhance it. + +For me to explain it to someone would approx take 4 hours to scribble it on paper. +Even for people who come from /all/. + +For those coming from /all/, Ethereum is a cutting-edge blockchain-based distributed computing platform, featuring smart contract functionality. It provides a decentralized virtual machine, the Ethereum Virtual Machine (EVM), that can execute peer-to-peer contracts using a crypto-fuel called Ether. + +Read more here: https://redd.it/77gytn + + +Tell us what excites you the most about Ethereum. + + +EDIT: Trying to keep up with the new comments but it's a bit difficult. Wait a few minutes until I get to your comment. Also, don't worry I won't run out for a very... very... long time. + +Due to the dinosaur speed of Bitcoin, it can take a little bit of more time before I can purchase additional batches of GOLD. ETH should be accepted as a means of payment so I could instantly purchase GOLD on Reddit and I would purchase even more daily. + + + +$17k CC debt at the start of 2020, spread across 4 cards +\+ $8k emergencies over the year += $25k total CC debt paid this year + +$52k net income 2020 (aka take home pay) +HCOL area (USA), my income is around the 40th percentile for my area + +How I did it: + +**50/30/20 Rule, budget based on net income** + +* I try to keep necessities at 50% of take home pay +* Max. rent is 25%. **This is my #1 rule.** I’ve learned that every other area of my finances suffer if I’m paying too much for rent. +* Max. transportation is 7%. **This is my #2 rule.** A large car payment will gobble up all sorts of financial goals. + +**Budget Breakdown for 50% Needs** + +* 25% Rent: I share a house with a few people. I’m so sick of roommates but it’s the only way to keep it this low. +* 5% Utilities: Water, sewer, garbage, gas, electricity, internet, yard, cell phone +* 7% Transportation: Old but reliable car, \~$1k in maintenance/repair per year, remaining costs are gas, parking, tolls, washes, registration, roadside assistance +* 8% Food: I let myself splurge here, within reason, 75% of this goes to groceries and 25% to restaurants. +* 5% Healthcare: My employer pays my insurance premiums, otherwise this would be higher. + +**Get rid of all possible interest** + +* 0% APR Transfers: Opened 2 new CCs at the beginning of the year to do balance transfers; and one of my existing cards offered 0% on transfers so I transferred its balance to a new card, then transferred a different balance to this card, wiping out future interest. There were transfer fees but they were far less than I would have paid in interest. This got me out of future interest for about 2/3 of the debt. +* Avalanche Method: Made min. payments on everything then threw all my extra cash at the highest interest debt. +* After paying off the interest-accruing cards, I paid off cards in the order of 0% promo expiration dates. +* Used my debit card for all new purchases (excluding emergencies). + +**Stare those CC balances in the face!** + +* I had a spreadsheet tracking all my CCs: running balances, interest rates, 0% promo end dates, and payments (past and forecasted). **This was really important because it showed how much I needed to increase future payments if I got behind.** +* It also felt good to see those balances go down and reinforced the reward of paying them down. +* Even though I knew I had racked up a chunk of debt, I didn’t appreciate the total amount because it seemed like a few grand here or there because it was spread across a few cards, not almost $20k (scream face). + +**You Need a Budget** + +* I started ynab in August and that really showed my spending habits. I hated it at first, I still do sometimes (I’m a planner and it’s very anti-forecasting). +* It showed how much I was living on next month’s income, and where I was overspending. +* Ynab is also helping me save better so I can handle emergencies without using my CC or efund (my efund is pretty much: it’s this or homelessness). + +**Advocate for Yourself** + +* I was promised a well-earned raise mid-year that my company kept postponing, and assuring me it would be retroactively applied once the amount was determined. I asked about it monthly and after a few months of being told it was pushed back again, I pointed out how long I had been waiting and that their commitment to me kept getting pushed aside because something else was perpetually more important. I got the raise in the next few weeks and applied the retroactive pay toward my CCs. +* I wasn’t sure if I should include this but it was part of my journey. I would have spoken up for myself without the debt, but my sheer determination to pay it off by the end of the year pushed me to stop accepting, “it’s coming,” and insist on a different answer. + +It took steadfast drive and attention. all. year. long. But I did it! I don't really have anybody to share this with, so many loved ones have had their worlds upended this year. And I wanted to share what worked for me in case it helps someone else. + +I know how hard this year has been for so many people and I'm really grateful I was able to do this. I know the feeling of bills coming in and having nothing to pay them with despite my best efforts. I did everything I could possibly think of to get rid of this debt this year so I'm not living on such a shaky foundation. +Questions: + +1. Should we contact our mortgage and credit card companies and see if they can help us? or will that cause more issues, that I don't know about? +2. Are there programs for people that lost their jobs with the mortgage companies or credit card companies? Can you tell me what to expect? +3. EVERYTHING IS DUE in 3 days, on the 15th. +4. What do we pay first, what can we let go until we are back on our feet? + +Backstory: + +After 10 years, my husband went in to work yesterday and was told that "effective immediately" his position no longer exists in the company. He had to clean out his office, leave the company phones, and he has to return the company cars and all other company items by Friday. They did not offer him a severance pay, and our insurance was cancelled, and he will be mailed his final paycheck in 2 weeks. + +This came completely out of the blue, with zero notice. They just re-structured the company and they could replace my husband's salary with 3 new workers. + +When my husband was hired on, they gave both him and I nice cars to drive, a gas card, unlimited phone plans with the latest phones etc. It was a good package. For 10 years, he was very successful and never got reprimanded or written up. + +Now, we are left in shock, trying to figure out what to do financially until we figure everything out. + +We have a backup car - we just need to get it registered and get a new battery and new tires. + +We have 5 long term rental properties - 2 of which are currently un-rented due to major remodels and 1 Vacation Rental that has been very successful, but has remained empty for the last 4 months - and we can't seem to get that rented at any price - but that is a different story. And we have our primary home. - So, right now, we have income from 2 of our 3 properties. That is it, after my husband lost his job. + +We have NEVER missed a house payment or credit card payment in over 25 years, our credit score is in the mid 600's because of our debt ratios. + +We have about 12k in mortgage payments each month, and another 8k in credit card payments, and 3k on loan payments. + +The mortgages are our highest priority. All of our properties cash-flow, and we are easily able to cover our mortgages, except for the 2 in the middle of remodels. + +We have credit cards in both of our names and both of our business names, most of which are maxed out due to the remodels, but would have been paid back within a few years after the remodels were completed. + +We can't pay everything without the 10k. We have workers working on the remodels. + +We don't have a clue how to begin to handle this. + +Do we call our Mortgage and Credit Card Companies and tell them what happened, and try to work with them? Or will that start a domino effect, and we will be in a worse situation. + +Today is the 12th, and everything is due on the 15th. + +PLEASE! Give us some guidance. I feel the clock ticking and I don't want to make a mistake. + +I anticipate, it will take him a few months to find a comparable job. + +I have been working full time on the remodels with our workers for the last few years. I can get one finished immediately, and the other one is going to take a few more months. But I can't see spending any more money until my husband finds another job. + +If you have ANY practical ideas - I would so welcome them! + +Thank You! + +xoxox + +Kai +Suggested someone sell AMC this afternoon on Twitter and got a lot of flak from WSB bros. Getting tired of people hyping that wave given the tickers involved are so overextended. (Sorry if this post is clutter; just needed somewhere to vent.) +So, I'm sharing a secret tip of mine that I've used to make most of my gains this season. + +**A technique I've refined to find amazing, under the radar Twitter profiles.** + +Because in my opinion, following the correct accounts on Twitter can have a huge benefit to your success in this space. + +I'm not talking about huge influencers. I'm talking about those insane, under the radar accounts with a few thousand followers who are just freaks at finding gems. + +**So, here's how.** + +When you come across a project/coin that has done incredibly well, search the $Cashtag in Twitter (e.g. $PILOT), but then select the three dots in the top corner for 'Advanced Search.' + +In the advanced search, re-enter the $Cashtag in the top field and then scroll to the bottom to find 'Dates.' Here, you can select an exact date range to refine your search! + +**The important part: choose dates before a coin started to blow up.** + +For example, search $PILOT and select the date range October 10, 2021, to October 15, 2021. + +The result? + +You'll find whoever was talking about PILOT before it blew up. These are people who had conviction before anyone else (and even enough conviction to post about on Twitter about it). + +You can now follow these accounts and wait for the next project they talk about. + +You'll end up finding the most amazing accounts who will provide the alpha going forward. + +**EDIT: Then you DYOR on these projects!! I'm not saying ape blindly into whatever they call next haha, it's a starting point for finding new projects then commencing your own research.** + +Lastly, some of these smaller accounts have Telegram or Discords in their bio, so you can interact with them directly. This lets you dive even deeper. + +Hope this helps! WAGMI +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? +I lurk here because I am entertained by the enthusiasm. Many of you remind me of myself 15 years ago. I think many of you younger guys who read this sub just learned an important lesson, so I'm going to bring it home. + +NOBODY KNOWS WHAT THE FUCK IS GOING TO HAPPEN NEXT. + +TA is good at interpreting the past, but if it was able to actually predict the future then somebody already wrote a script that can suck the value out of that play faster than any of our monkey brains can. + +This is true regarding ETH, BTC, the price of gold, the S&P, bond yields, you name it. Trading is not much different than gambling in the short term + +Two Warren Buffet quotes (I think): + +"The market can stay irrational for longer than you can stay solvent." + +In other words the market doesn't give a shit how smart you think you are, you either need the ability to wait or you should not be in it. + +"The market is a voting machine in the short term and a weighing machine in the long term." + +In other words, what we just saw over the past 2 months was the voting machine. Now the weighing machine is kicking in. Perhaps we were a little overbought, fine. If you have time to wait then you'll see another cycle happen. If not, then you shouldn't be in it. + +Good luck, young bucks. Keep reading these subs for fun, but remember: + +NOBODY KNOWS WHAT THE FUCK THEY ARE TALKING ABOUT. +If you are a paying platform member, you probably know what I mean. + +If you are not, I will try to summarize it and maybe this will serve as a warning for other people eyeing with his platform. + +I have been paying for his research platform for two years now (1000+ USD in 2 years). I liked him on youtube, liked his investing philosophy, he seemed authentic, he said smart things and I learned a lot from him and also I felt like his expensive platform gave some value to me because he explained his reasoning. (although he didn’t update it too regularly so I was already somewhat disappointed) + +He always communicated his buys and sells shortly after he did them and he always described in detail why he did what. But about a week ago he sold all his positions from his “model portfolio” without saying a word and only let his subsribers know after the fact. + +When people asked him why, he literally just said that it was for “personal reasons” and because he wanted to restructure his platform in order to give us more value and he wanted to start a completely new portfolio. (He did not specify what he meant by more value AT ALL) + +So when people were asking him in the comments his answers were that “Thanks for sharing”, and he “already explained it” (meaning these vague “explanations” above) and than he entirely disabled the commenting option on the topic and also on some of the stocks that were in this model portfolio and were significantly down. + +Since I was so frustrated by this shady behavior I was checking youtube if other people complained (they did.) So when I saw that Sven replied to these (I think pretty fair) questions that “Thanks for your input” or “The explanation is only for the platform members” I got upset because he didn't explain this to platform members, he had to ban commenting because of it and now in the public he acts like he did which is just clearly dishonest. + +My theory is that he had a good couple of years with his stocks when it was a bull market and he needed these good returns to sell his platform. So since most of the stocks in his portfolio declined 25-55% in 2022 he wasn’t able to SELL and market his platform on these bad returns so he just simply started a new portfolio which he already proudly shows in his youtube video thumbnails with 1 mn USD. + +He was always preaching about long-term investing and long-term mindset, so even though his stocks were down, why didn’t he stick with them? + +Why couldn’t he communicate clearly with his subscribers? + +Why was it necessary to sell the current portfolio to start a new one? I’m pretty sure he has lots of money from his expensive platform members, why not start it with that money while keeping the long term portfolio? Or why not start a new one with smaller amounts? + +And I mean, how shady is BANNING the comment section and than acting in the public like he shared this information with the platform members when he didn't??? + +Does any platform member know anything else about this? + +And what do you guys think? + +Sorry if I’m rambling a bit, but this made me so disappointed in him. I thought he was one of the good ones, but now he seems pretty unauthentic and scammy, only in it to make himself rich and get new customers, and not caring about the people who payed him the money he now has... +In Germany its very common to rent your entire life, in the uk its very common to become a home owner. +Whst effects does this have in the economy and wealth inequality? + KWATT Token currently is an ERC20, Ethereum based smart contract. Upon completion of the blockchain development, the token will be swapped to the KWATT Coin that will interact with our blockchain. + + + The total coin offering is for three hundred million coins (300,000,000). + + + Our first plant will launch with a capacity of generating 10 megawatts of power every hour. Upon seasoning the plant operations, our infrastructure will be able to increase output capacity to 40 megawatts per hour. 1 megawatt is equivalent to 1000 kilowatts. 1000 kilowatts powers approximately 650 households for one day. Peak or off-peak usage of the power at different times of the day can cause this average to deviate. + + + The maximum annual output capacity of the plant is 346 million kilowatts per year. Due to maintenance and general down time for repairs to the plant, expected annual output capacity is estimated at 300 million kilowatts per year realistically. + + + Each KWATT Coin embodies an annual supply of 1 kilowatt of electricity within it. + + + A typical Waste to Energy plant depreciates to its salvage value over 50 years. Regular maintenance and upkeep will allow us to extend life beyond that. + + This means holder of KWATT Coin will be able to apply their energy to one of two places each year for the next 50 years. They can either sell their energy to the UK National Grid or they can choose to apply it towards 4NEW’s cryptocurrency mining farm. + + The price of 1 kilowatt for electricity is a very stable metric. Over the past 50 years, the global average retail price is approximately $0.15 USD per kilowatt, inflation adjusted. + + 4NEW will never authorize any additional coins issuance over and above the three hundred millions coins being launched in this initial coin offering. Therefore, any future growth in 4NEW plant sites will always rely on the supply of the coins being issued in this offering. + + Each year management will apply 35% of its net profits towards a reinvestment strategy to enable future development of plants. This will ensure longevity and scalability to 4NEW over a sustained period of time.4NEW Insiders and Founders will be restricted from selling any coins until January 1st, 2019. + + Any KWATT Coins not sold in the offering will be burned. For the avoidance of doubt, all burned coins will release the supply of the energy that was embodied within the coin, allowing that unencumbered energy to be freely sold to the UK national grid or applied towards the mining farm at management’s discretion. + + At the start of each year, KWATT Coin holders will be able to choose a desired application of their energy the coin holder owns as represented by the total amount of KWATT Coins in their control at the time of this election. + + Therefore, if the coin holders desire to sell their energy to the UK national grid then the respective option can be selected. Alternatively, if the coin holder were to select the mining farm then the energy will be applied to the mining farm. Any decisions not made within the allotted time frame at the start of each year, will leave the management the right to determine the allocation of the energy at its discretion. +I frequently get Redditors sending me links showing that the PRC economy is inevitably going to stagnate or implode. + +* [Example 1](https://np.reddit.com/r/changemyview/comments/o2k9uo/cmv_we_ought_to_lose_all_hope_about_the_situation/h279tap?context=100) +* [Example 2](https://np.reddit.com/r/changemyview/comments/o2k9uo/cmv_we_ought_to_lose_all_hope_about_the_situation/h28t1r6?context=100) +* [Example 3](https://np.reddit.com/r/AusFinance/comments/or53qu/cmv_i_think_that_the_australian_economy_has/h6gewuf?context=100) + +I am also a fan of u/polymatter, and he's made a 4-part series about what he claims is an inevitable brick wall for China's success: + +* [Demography — China's Reckoning (Part 1)](https://www.youtube.com/watch?v=vTbILK0fxDY&list=PLR5tswn4SFyUOm3QusvlFGbPCCAN_uXnK) +* [Housing — China's Reckoning (Part 2)](https://www.youtube.com/watch?v=EgVXRtq5EIg&list=PLR5tswn4SFyUOm3QusvlFGbPCCAN_uXnK&index=2) +* [Water — China's Reckoning (Part 3)](https://www.youtube.com/watch?v=nRUc4gTO-PE&list=PLR5tswn4SFyUOm3QusvlFGbPCCAN_uXnK&index=3) +* [National Insecurity — China's Reckoning (Part 4)](https://www.youtube.com/watch?v=y87R3Lp0jd0&list=PLR5tswn4SFyUOm3QusvlFGbPCCAN_uXnK&index=4) + +I used to think that "*if China's economy collapses, then India will fill its shoes*", but with India collapsing under the strain of COVID-19, I now strongly doubt that this is possible: + +* [Tens of Millions Plunge Into Poverty in Covid-Ravaged India](https://www.bloomberg.com/news/articles/2021-05-07/tens-of-millions-plunge-into-poverty-in-covid-ravaged-india) +* [Poverty may be COVID-19’s legacy in India](https://www.eastasiaforum.org/2021/07/15/poverty-may-be-covid-19s-legacy-in-india/) +* [India’s Public Health Collapse Is a Ticking Time Bomb for the Whole Region](https://thediplomat.com/2021/04/indias-public-health-collapse-is-a-ticking-time-bomb-for-the-whole-region/) +* [India COVID: Collapsing nation’s dark death penalty call as oxygen runs out](https://www.news.com.au/world/coronavirus/global/india-covid-collapsing-nations-dark-death-penalty-call-as-oxygen-runs-out/news-story/b68abae86a1e8d8e1632dc92c96e3eb9) + +So if India is crippled by COVID-19, will a Chinese economic stagnation or implosion doom the world into perpetual economic stagnation? + +* Alternative rising powers like Brazil, Mexico and Indonesia [are also similarly crippled by COVID-19](https://covid19.healthdata.org/projections), if not to a greater extent than India is. +* The Western world may not be able to resume being the economic engine of the world, as most Western nations have high COVID-19 death rates, and once the pandemic is over, we are burdened by skyrocketing debt rates (I know that national debt isn't necessarily bad, but we seem to be betting on being able to pay off the debts through economic growth, despite the fact that growth isn't certain). +* Technologically-advanced Asian nations like Japan, Taiwan, South Korea and Singapore are themselves facing severely aging populations and economic stagnation. +* Many countries are dependent on Chinese investment and resource demands. Will they implode without Chinese backing, considering that India and others will be unlikely to step into China's shoes? +EDIT: Updating to include Wes Christian as a reviewer. + +I have officially finished the HOC part II and submitted it to Dr. T, Wes Christian and Dave Lauer (u/dlauer) for review. They are welcome to share among their peers, as well. + +I have shared this document with the MOD team and asked them to keep it hush-hush until we receive feedback. They can give their impression, but not any detail. + +That being said, it is a 24 page word document explaining how big the House of Cards truly is. Instead of trimming out vital information, I have decided to double-drop parts II & III at the same time once I have feedback from the experts. + +I appreciate everyone being patient and ask for you to give our experts the time they need to fully review the findings. This is important and I appreciate all of their efforts to make the story airtight. + +💎🚀 +"After the Great Recession, we went through a decade in which economic life was defined by a lack of demand. Now, after the COVID recession, we’ve entered a period in which economic life is defined by a lack of supply” +I’m not hating on those subs, they have their place. Moe Szyslak gave you a hot tip because he was mysteriously outside Marge Simpson’s house for 14 hours yesterday and saw Bill Gates come for a visit? No it does not mean that Hyper Globo Mega Net is going to the moon. Every time someone pumps dogshit.v and a mark says “it’s not on WS” all you can do is be thankful for them. + +And you want to go on a rocket to the moon? All in on AC yeee hawww that’s awesome man yolo420 literally. But please shut the fuck up when it dips 3-6%. It’s not crashing, it’s not ignoring fundamentals. To the moon! Shame it’s a two year trip... + +And honestly the worst of all are the fucking “should I go all in on VGRO or XGRO uwu” crowd. Jesus dude who gives a fuck? O no one of your 6 mass market ETFs has 1.5% overlap good bye sleep. You can’t even live a micro second and apply the ETF philosophy while on an investing Reddit and build a half decent broad portfolio yourself? It’s some daredevil move to pick a Canadian telecom, a railroad, a bank, a REIT and a utility? Wow it’s almost like that absolutely crushes the God and lord SPY over the last 20 years! + +Don’t even get me started on the fucking ethical investors. +https://www.marketwatch.com/story/long-island-iced-teas-stock-rockets-nearly-500-after-changing-name-to-long-blockchain-2017-12-21?siteid=yhoof2&yptr=yahoo + + +B U B B L E +Alright boys and girls. If you're struggling to become a "trader" listen closely.. I trade for a fund and here is some solid advice from someone who does this for a living. Plus, I've had a few whiskey's so I'm more inclined to offer advice than I normally am.. Don't judge me - it's Friday night here.. + +I'm probably going to receive flak for this from "traders", but again, I get paid full-time to do this shit so either listen or don't. I don't care. + +Basically, I'm sick and tired of watching a bunch of fakers offer a bunch of fake advice to a bunch of rookies trying their best to learn how to trade. I was taught by a mentor who had been doing this shit for 30+ years and I wouldn't be where I am today if it wasn't for him so I want to pay it forward. + +&#x200B; + +**Rule #1: Risk Management.** + +This is THE only way to make money. The best FX-specific funds in the world are right no more than 60-70% of the time each month AT BEST. Some are only right 40% of the time and still make money.. HOW? Risk management. Risk only a % of each trade and trade like a sniper- take only the most high probability setups and and move your stop once it goes in your direction. If it reverts and stops you out, it means you're wrong and you don't want to be in the trade anyway! + +&#x200B; + +**Rule #2: Have a target** + +Yes, the turtle traders "rode the trend".. but they also traded in an era where once a derivative broke out of a range it kept going. Now days you have false breaks/fakeouts/washouts, sideways action etc. If you don't have a target, how do you know where to get out? Don't worry if you get out way too early - as long as you get your profit. Which brings me to; + +&#x200B; + +**Rule #3: Don't get FOMO (Fear of Missing Out)** + +Don't chase a trade. Period. If you miss the entry, who cares. You're trading a market that's open 24/5. There's always another opportunity. On the contrary, if you get out of a trade too early - who cares!? You got your profit, now let it run and look for a reversal. OR, if if consolidates, look for another move in the same direction. DON'T GET CAUGHT UP ON WHAT-IF'S! + +&#x200B; + +**Rule #4: Stay Zen** + +This sounds hippy AF but trading will take your mind to dark places you didn't even know existed. Stay zen. A full loss? No problem. 4 losses in a row. No problem. This is part of trading. Stay zen and keep your emotions at the door. All strategies will experience a draw-down. If you don't want that and you don't like losing then you're in the wrong game. You NEED to be able to handle losses. + +&#x200B; + +**Rule #5: Make your own analysis** + +Don't listen to "hot tips", analysis or anything from other sources. And please, for the love of god, DON'T PAY FOR TRADE ALERTS!!!! DYOR (Do Your Own Research), make your own analysis/bias and **stick to it**. This includes ignoring the "pro's". No one is right 100% of the time - if you go against the "experts" who's to say it's not the one time they're wrong!? I once held long a Euro trade when every news source in the world devalued the Euro... I was right, they were wrong - that was one of my largest monthly commissions that month.. I also once held a crude trade when everyone, including CNBC was talking about tanking crude prices - I made 10% on my portfolio that month.. + +&#x200B; + +**Rule #6: Get realistic** + +Oh, you've got $1,500 to trade with? Yeah.. you won't be trading full-time next year. Sorry. It doesn't work like that. Anyone claiming to make 100% of their portfolio in a few months is lying. Either that, or they have BUT they won't keep it up. If they do, they'll go down in history as the best trader in the world. The average FX-specific fund averages 4-7% per month. At my fund, we aim for 5-10% per month. This is top 1% in terms of "funds" / "professional traders". If you're a retail trader you can probably make adjustments to trade a little differently and maybe improve your performance. But again, if you have $1,500 to trade, don't expect it to be $200,000 in 12 months. That's not how it works. Why do it then? Well, all you need to do is beat government bonds (4.75% .. ?) and you've made a "successful investment". How do people become rich from trading then? .. well, they manage money of course.. if you manage $1,500,000 and make 7% and keep a commission, you'll earn far more than 10% on a $1,500 account.. + +&#x200B; + +**Rule #7: STOP LOOKING FOR THE HOLY GRAIL !!! It DOESN'T exist !** + +Want proof? Fine.. I have gone through and taken examples of how it doesn't matter what strategy you have, you CAN be successful. So, here are SEVEN different strategies on the SAME CHART (gold) that are all profitable. The point being that in the same bullish move it doesn't matter what strategy you use, there are multiple opportunities to enter. + +Strategy 1: + +https://i.redd.it/wrwl1170xcx21.png + +Strategy 2: + +https://i.redd.it/fx9gqma3xcx21.png + +Strategy 3: + +https://i.redd.it/8tli4yv5xcx21.png + +Strategy 4: + +https://i.redd.it/grbcy2n7xcx21.png + +Strategy 5: + +https://i.redd.it/98siamy8xcx21.png + +Strategy 6: + +https://i.redd.it/i3fjz2taxcx21.png + +Strategy 7: + +https://i.redd.it/thgudhwcxcx21.png + +**Rule #8: Stick to your strategy** + +This is important. If you encounter a string of losses - DON'T CHANGE YOUR STRATEGY. Just because you're going through a drawdown doesn't mean your strategy no longer works. This is where risk management comes in.. if you're only risking 2% per trade you can sustain a drawdown.. if you're punting at 10% per trade you're quickly going to burn out. + +&#x200B; + +**Rule 9: Stay true to your analysis** + +You're either right or you're wrong. If you're in a trade and it goes your way then reverts, are you going to close or hold? Once you enter a trade you shouldn't be "guessing" you should know "it's going to go to here" - you're either right or you're wrong. Don't be scared by a simple pull-back. + +For example, in the situation below, if you enter where it says entry and you expect it to reach your profit target.. would you close when you see the choppy action in the red box? A rookie would get scared and close. A professional would hold knowing that they're right and it will eventually hit their profit. If it doesn't, it means they're wrong and that's what their stop is for - the most they're willing to risk. If you're never willing to take a full loss, you'll never be willing to take a full win. + +https://i.redd.it/lk818xn28dx21.jpg + +&#x200B; + +**Rule #10: Find your style** + +Are you wanting freedom? Then don't scalp. I spend no more than 10-15hrs per week looking at charts. That's how I like it. I won't want to be like some of my colleagues where they left a full-time job only to.. look at a chart full-time.. What's the point!? + +But hey, if you're into that stuff and you like watching each tick, then good luck to you. If you're new to forex, start on a daily or 4hr then work your way down to intraday. Most strategies can be slightly altered from a daily chart to suit a 5min chart. + +&#x200B; + +**Conclusion** + +There's some good reading for ya. I'm now more than tipsy so should probably go drink some water. If you have any questions, ask away. Don't expect a quick reply. + +Remember, it takes years to learn this shit. Don't beat yourself up if you hit a 'slump', just keep chugging along and you'll get there in the end! +US total market cap as % of GDP is much higher compared to the rest of the world. This number is currently at 150% compared to 120% for Japan, 100% UK and only around 60% for Eurozone. The gap has narrowed over the last few months (US was at 200%), but remains well above historical averages. USD also appreciated by 20% against most other currencies during this period making other markets cheaper. + +Now there are good reasons why these markets have a lower valuation. Namely slower growth and demographics. But at the same time I think it more than compensates by being cheaper. + +Consider the Eurozone which is almost 3x cheaper. Structural issues, high debt, Russia conflict. But the countries are working on structural improvements and integration. With the UK gone it will be much easier. Japan has the demographics issue and high debt too. However, yen is currently at a 24 year low, there is no inflation and a massive structural opportunity for higher labour participation and foreign investment. These are areas that the government is working on. + +Let's go a bit further and consider some emerging markets. My two favourites are Poland and Indonesia. + +Poland is roughly the size of Spain in terms of population and size, and has a third of its debt. It has one of the best growth prospects in the EU. Excellent geographic location close to the centre. A bridge between east and west. Will massively benefit from the coming integration of Ukraine. However, the total market cap of all public companies there is $180bn. That is roughly the market cap of Adobe. Spain in comparison has a market cap of $800bn. + +Indonesia has a market cap of around $400bn which is the size of Nvidia and smaller than Tesla. This is a country with a population almost the same size as the US. Has a huge young working age population that will continue to grow over the next decade fuelling consumption. The country is growing at 5-6% a year. It is arguably becoming one of the next large, low-cost manufacturing centres with many companies abandoning China. + +TLDR: US is expensive and its dominance may not last forever. You would be wise to diversify into the currently cheap global markets. Please due your own DD. +So Daron Acemoglu (and 2 other economists) wrote a paper titled "Can't We All Be More Like Scandinavia" in which they argued that countries with "cuddly capitalism" (countries with generous welfare states) free ride on countries with "cutthroat capitalism" (countries that don't have very generous welfare states) because the latter has longer working hours and more incentives for innovation while the former has less. + +They essentially say that innovation from "cutthroat capitalist" countries has a positive externality that benefits "cuddly capitalist" countries. + +Their answer to the question overall is no, because (according to them) if everyone became like Scandinavia, then global growth rates would decrease due to less innovation. + +Here's their paper: https://scholar.harvard.edu/files/jrobinson/files/varieties_of_capitalism_april_9_2013.pdf + +Is this true? + +From what I know, voxeu responded to this paper and argued that Scandinavian countries may actually be MORE innovative when measuring triadic patents and other metrics like R&D, venture capital, researchers per 1000 people employed, etc. + +Here's their response: https://voxeu.org/article/nordic-innovation-cuddly-capitalism-really-less-innovative + +But if I'm being blunt, I'm a layman when it comes to economics and thus im not very smart in this field. I felt way out of my depth reading these 2. + +So I was hoping for your guys' insight because I'm not sure what the consensus is. Thank you very much ! :)) +In 2020 I was made redundant from an events job because of the pandemic / lockdowns. + +I got a new job 3 months later in the automotive industry. + +The number one question my colleagues would ask is “when are you upgrading your car?” which started to make me feel like I was being looked down on for having a cheap car parked outside the office, whilst everyone else had a brand new BMW / Merc / Range Rover. + +Despite my relatively low wage, I eventually folded and went into my nearest BMW dealership and ordered a brand new 2 series on finance (PCP). £300 monthly for four years and then an optional balloon payment of £13,000 at the end to own it. + +I knew deep down that it was the wrong decision, but my urge to “keep up with the joneses” was too strong. + +Delivery was promised 3 months later. Those months go by, and nothing. I chase the dealer. “Due to the chip shortage, we are looking at another 3 months.” Then you’d wait, and nothing, repeat ad nauseam. + +Eventually the reality of the cost of living crisis came to light. I emailed the dealer and requested a cancellation. I got my £100 deposit back, but more importantly I felt a weight was off my shoulders. + +I may not have a brand new car, but I have peace of mind now, and I think that’s worth way more. I’ve decided to put the money I would have spent on the car into a Vanguard index fund. Just thought I’d share this in case anyone else is in a similar situation. +That's it, that's the advice. I really can't believe people are still doing it. + +Actual quote from an article I just read, from somebody who got destroyed by the flood.. + +>"It seemed astute to move into a flood area after the last flood, because it's a little bit cheaper and we could afford a place here,.. +> +>...We just thought it might flood again in 30 years or something like that, and we'd totally avoid it. But yeah, here it is. We couldn't believe it." + +They knew it was a flood zone, that suffered bad floods recently, decided it sounded like a bargin. Despite the mountains of evidence pointing towards Australia only suffering worse floods, bush fires and extreme weather over the coming years. + +As this sub is about 'getting out of debt, investing, and saving for retirement.'. And I haven't seen this mentioned, yet people are repeatedly walking into this trap.. the advice seems relevant for preventing debt and securing a retirement.. Just don't buy in a flood zone. + +You can download the flood maps of any area online. Likewise you can check an area for bush fire risk etc. it's not a lesson you want to learn the hard way. It could be the biggest financial mistake you ever make. + HappyCoin has been on a meteoric rise these past two weeks, stifled only by the market and the falling price of BNB. But if you think all the use case in cryptocurrency also evaporated with the paper hands in this market, think again. + +If you’ve paid attention to anyone giving anything remotely resembling financial advice, it’s to buy when you see red and sell when you see green. So what’s going on with the market? Is it red or is it green? What do you think you should do? + +It takes a person of incredible will and constitution but I know you’re capable of it. + +I know you’re capable of getting on board with a brand that donated $50,000 last Friday to the American Foundation for Suicide Prevention, and has another big done lined up this Friday. I know that you’re on board with a marketable image and a **doxxed founder currently in LA onboarding new influencers.** + +I know that you know this is the new bottom for cryptocurrency and it’s time to truly make a difference in your life and latch onto a life changing opportunity. + +With CG, CMC, and WhiteBIT listings all in tow, **HappyCoin and it’s 68,000 holders** (almost **as many as BakerySwap, a $1B** market cap company) are poised to smash through 100,000 making the sky the absolute limit for this token. + +So while the market might be uncomfortable, the best way to handle the stress is to see it as an opportunity. The market is longer than one day, one week, or one month. It’s going to rebound and you’ll be glad you latched on before the bounce. + +So keep your heads up $HAPPY people, and think about what this will look like when the market inevitably rushes back up **(not your first dip, right?).** + +**Oh, and I’m hearing there’s a special announcement live on twitch, 6pm EDT.** If you’re on the fence, now would be a good time to tune in. + +$HAPPY is still going to be the coin that blasts upwards when the dust clears and people realize cryptocurrency is bigger than one man, company, or nation. So are you gonna stand tall or are you gonna follow the rest of the sheep? + +[Website](https://www.thehappycoin.co/) + +[Telegram](https://t.me/joinchat/r8ChT0DN36RkMjU5) + +[CoinGecko](https://www.coingecko.com/en/coins/happycoin) + +[PancakeSwap](https://bogged.finance/swap?token=0xB0B924C4a31b7d4581a7F78F57ceE1E65736Be1D&slippage=12) +Is it something that is considered tenable or desirable? Is it egregiously flawed in some way involving morals, ethics, rights? How is non-use if force or aggression principle maintained? +Bloomberg tried to give Kenny an easy PR layup of a softball interview, no questions on short-selling or his Congressional testimony, and even an applause-track to make it sound like his mayo-hole produced useful noises... oops: + + “Ken Griffin is a liar. He lied to Congress last year and he is lying to Chicagoans now." -Governor Pritzker + +[https://www.audacy.com/wbbm780/news/local/richest-illinoisan-takes-aim-at-gov-pritzker-calls-chicago-like-afghanistan](https://www.audacy.com/wbbm780/news/local/richest-illinoisan-takes-aim-at-gov-pritzker-calls-chicago-like-afghanistan) +I always hear that its a crap degree, you cannot use it for anything, you cannot get a job. You learn nothing of any use. + +But on the other hand many of the richest people on earth have economics degrees and the average salary seems to rival many stem fields. + +I dont get it. + +I like economics but im absolutely warned away from studying it at every turn. + +Why is this ? Is it really that bad ? +Throwaway account, but hope to be more active here now that I can be anonymous. I’ve posted a couple times to my personal account that were well received and popular, but I ended up deleting because I was nervous about anonymity. + +31, married, no children, LCOL. + +Told my wife tonight that we became millionaires today... she said, “Ok” then proceeded to reheat leftover pasta while I celebrated with a protein shake. + +I thought this was pretty humorous and don’t really have any close confidants to share with, so hopefully you all can help me celebrate! + +Cheers! +For those who haven't read it, the [FCA has published](https://www.fca.org.uk/publication/research/understanding-self-directed-investors.pdf) research into the sudden, and recent, rise of self directed investors. With the following interesting points: + +**18% of new investors over the last 3 years are aged 18-24** driven massively by the popularity of apps such as Freetrade and Trading212. This represents a 3x increase on previously research. + +**Those individuals who were investing in volatile high-risk products had a high degree of self confidence and claimed knowledge** but found actually this was misplaced. + +* Investment decisions were placed on gut instinct +* Predominately choosing 'hyped' investments or using big name brands as 'safe' investments like tech companies +* Motivated mainly through making money quickly and the novelty of the apps + +**Investors with less than 3 years experience use 'alternative' sources of information** getting their investment research from: + +* 27% - YouTube +* 25% - Social Media (Instagram/TikTok) +* 19% - Influencers/vloggers + +**Only 41% of new investors believed that losing money they invest was a genuine risk** with quotes such as + +* *If you don't take risks, you won't get the hard gain* +* *investing for about 18 months in FX as it was the most lucrative and easily accessible. Shortly after went into crypto* + +**59% claim that a significant investment loss would have a fundamental impact on their lifestyle** with many stating they would dip in and out of their investments when short on cash + +&#x200B; + +The quote that really stood out to me as the definition of this newest generation of 'investors' + +*"I started looking at investment w2bsites like Vanguard, but felt completely out of my depth. Apps like Trading212 are really easy to use and the accessibility really catered to me"* + +*"Trading was something new I could put my mind to. My flatmate got me into it and I was it as an interesting way to pass some time"* +So I was doing my morning walkthrough of new FINRA violations and caught this BEAUTY for [Goldman Sachs & Co LLC](https://files.brokercheck.finra.org/firm/firm_361.pdf). Anyone else recognize the significances of that date range? It's the SAME timeframe that USS GME was prepping for liftoff. + +Don't trust a F\*CKING THING these ass clowns tell you. The data you see is whatever they WANT you to see. + +[https:\/\/files.brokercheck.finra.org\/firm\/firm\_361.pdf](https://preview.redd.it/ddrvcf5q1v271.jpg?width=1017&format=pjpg&auto=webp&s=f95b0f68490fa145b37fbc08ee310caa79d0ca87) + +No one knows what data was unavailable to reconstruct the trade, but here's a simplified [list of requirements](https://www.bobsguide.com/articles/trade-reconstruction-a-growing-pain-point-for-firms/): + +https://preview.redd.it/yodbupak3v271.jpg?width=1039&format=pjpg&auto=webp&s=7e12ad71b850cee9ad735efc848adce551e71ed3 + +The data is coming out, apes. Their f\*ckery continues. + +&#x200B; + +DIAMOND.F\*CKING.HANDS +[Feds Seized Robinhood CEO's Phone in GameStop Trading Halt Investigation (vice.com)](https://www.vice.com/en/article/wx5p8z/feds-seized-robinhood-ceos-phone-in-gamestop-trading-halt-investigation) + +Looks like Vlad is feeling some heat right now! Maybe another 12M for clients and 58M for the lawyers...... /s + +In its filing, Robinhood states that the fallout from these restrictions still have the potential to be disastrous for the company. “We have become aware of approximately 50 putative class actions … relating to the Early 2021 Trading Restrictions. The complaints generally allege breach of contract, breach of the implied covenant of good faith and fair dealing, negligence, breach of fiduciary duty and other common law claims. Several complaints further allege federal securities claims, federal and state antitrust claims and certain state consumer protection claims based on similar factual allegations,” the S-1 states. + + +The best part: + + The company said that the incident was bad for the company and “resulted in negative media attention, customer dissatisfaction, litigation and regulatory and U.S. Congressional inquiries and investigations, capital raising by us in order to lift the trading restrictions while remaining in compliance with our net capital and deposit requirements and reputational harm. ***We cannot assure that similar events will not occur in the future.”*** + +If this last statement is not a sign to get out of Robbing the Hood, I don't know what would. + + +I know am thinking little ahead of time, but people who own petrol bunks in India make a lot of money and owning a petrol bunk few decades ago wasn't as expensive as it is today, people have been owning it from generations. + +What you think about EV stations? Would it be less expensive to own it if someone enters early during this disruption? + +There are two more possibilities that I thought: + +1. Automobile companies can themselves own EV stations directly and general public won't get an opportunity. +2. Old local players with petrol bunks will simply revamp their place in such a way that they are able to cater needs of both types of the vehicles. This may create an entry barriers for new folks willing to get in. + +Again, I understand am thinking bit ahead of time and we are discussing about possibilities only. +FINAL UPDATE: Computershare has communicated to me that they do NOT have any knowledge of Gamestop releasing an NFT in the form of a dividend. Debunked by Computershare. +If Gamestop confirms in the future I would like Ryan Reynolds to play the part of the CS ape. + +http://imgur.com/gallery/I2ZewJB + + +Lots of speculation on an NFT dividend from Gamestop. I thought it would be a good idea to run that by computershare. + +I used Computershare's general inquiry tool to ask a hypothetical question about dividends and what would happen with an NFT if I were holding as book entry or dividend reinvestment. I wanted to ensure I had total control over the dividend if that were to happen... + + +This is the response I received: + +https://imgur.com/YnvxRWj + +"Dear Sir/Madam: + + + +Thank you for contacting Computershare, the transfer agent for GAMESTOP CORP. We appreciate the opportunity to be of service to you. + +GameStop is still preparing to release a Non-Fungible Token (NFT). The shareholders will be notified once it is declared. + +Should you have other account related questions, please call us at (800) 522 6645 during regular business hours. Please note that any available representative can assist you. + + + +Sincerely, + + + +Computershare Investor Services + + + +Our ref: GME / ######### / ######## + + (removed the reference numbers) + +Attachment: None(1) + + + + + +Online Account Access: Most shareholders can manage their holdings online with free access to Computershare’s Investor Center website. Use this simple tool to quickly and easily update account information, sign up for electronic delivery of documents and more. + +Enroll FREE today at www.computershare.com/investor. + +Got a question? Ask Penny, Computershare’s virtual agent, at https://www-us.computershare.com/Investor/Help. + + +I contacted CS immediately to verify the email address it came from. It was confirmed via phone that it was in fact their email. I've reached out to GameStop investor relation via phone and email without a response. + +Confirmation bias to the max! + +EDIT: I've been sitting on this since yesterday. Didn't want to post because the email addresses seemed off to me. If somone wants to initiate a chat with Penny and confirm for themselves and respond back here go for it. I confirmed over the phone. + +MOD team can message me and I can provide anything need to confirm. The email is legit. +Heres the modmail I sent yesterday +https://i.imgur.com/gUXIzGd.jpg +(fixed link again) + +UPDATE #1: I appreciate all the skepticism and feedback. I want to be clear that my intent with this post was to raise awareness on the surprising content of the email and get some help digging into it. I made an effort to reach out to computershare multiple times as well as several phone calls to Gamestop investor relations including an email. I went as far as messaging Gamestop on a social media platform asking for help to get ahold of someone from the investor relations team before posting here. I'm not advocating for anyone to make any financial decisions based on this. I'm not a financial advisor. The DD previously posted on reddit speaks for itself. If you don't understand any of this, read the DD. + +I'll update if I learn anything new. This can not be confirmed by anyone but Gamestop. Do I believe it? Yes. I like the stock. + +Update #2: Received a call from CS supervisor and reaffirmed the email is real. On their internal update board there is no information on an NFT from Gamestop. The CS liason to GS is making contact to speak about the content in the email. CS is investigating internally who and how this info was sent. It is not a BOT generated response. It had to be sent by whoever reaponded. There is no agent user ID in the notes. I will likely have a follow up from them on Monday. Still trying to make contact with GS investor relations as well. + +Update #3: +Received two more emails from computershare. 1800 yesterday and another 34 minutes later. + +http://imgur.com/gallery/VxpXDLq + +Update #4: Got another email today. I have no idea why they sent another one. I've had zero contact since my last call. I guess they needed to let me know they sent the info in error for a 3rd time.. +CS email #3 https://imgur.com/gallery/6e5qvwV +My husband and I (we are both 48) have been very fortunate with our jobs and have always had very simple tastes, a combination which has resulted in a net worth of 8.1M+ (no house, we are now renting). Our goal is to retire at the end of the year and potentially move overseas or at least out of our HCOL state. + +We have a child in college who will be graduating next year with no student loans and enough money for grad school. Also, he has a stock account worth about $250k. + +From my husband’s POV, we have set him up more than most and it’s time to let him work hard and earn his own way. For me, it is not as easy - I feel quite guilty that we are leaving the workforce during our prime earning years and the thought that we are off relaxing and spending our money instead of increasing his down-the-road inheritance feels a bit selfish. He also is majoring in a field that perfectly fits who he is, but is not going to be high paying as a career. + +My two questions: + +1. How do people with this type of net worth manage the whole inheritance issue with their kids? My kid is bright and amazingly hard working (has had jobs/internships the entire time he was in college), but I want to protect him from ever struggling financially. Maybe I am even afraid of him being not “well-off” to be honest (which is crazy as I did not grow up with money and had student loans and no money until I was 30). + +2. How much of inheritance is “enough”? + +Thanks for any input. What should be an exciting time for me is really being impacted by this guilt about stopping work so early. +If I didn’t know any better, I’d say Solana is gonna hear from the SEC pretty soon. Their ability to shut down the network on a whim today proves extreme centralization, thus making them a security. And, this has happened several times. Other areas of concern are they have 600 nodes managed by three companies, 95% of total tokens are owned and controlled by VC, Team members, and the foundation. 5% of tokens in circulation are available to purchase. Most of that 95% of the market is locked in staking and has a two day unlocking period. Sending good vibes to the small bag holders that big bags don’t dump. After thoroughly reviewing the project, I’m just not brave enough to catch this flight. +I apologize in advance for how morbid this post is. I am in no way supporting this, I'm merely curious. + +Let's hypothetically say that when covid-19 first started, the U.S. decided to do nothing and simply let the disease run it's course and kill anyone that was vulnerable. In March, the Imperial College of London estimated that without intervention, as many as 2.2 million Americans would die. The Insurance Institute for Highway Safety places the value of a human life at around $10 million dollars. By this calculation the 2 million excess deaths would cost the economy $20 trillion. + +However, most of the deaths would be senior citizens who are at the end of their working life and have no more earning potential. Their remaining assets would likely be transferred to their families after death. Covid-19 has already cost the US $16 trillion; from a strictly economic standpoint, would it have made more sense to not address the virus and let it run rampant? +Only a few days left until the new year, what are your top 3 stock picks for 2022? + +If possible, add 1 simple sentence to explain why are you bullish. I'll start first: + +1. Foot Locker - Beaten down due to its boring performance, healthy balance sheet, and below intrinsic value +2. Zillow - Got rid of Zillow Home (the biggest mistake they made), now they're back on the right track +3. iRobot - Strong brand, good product, punished due to temporary Covid-19 related issues +I'm a guy in my early 30s and just sold my startup for over $50M. The money hit my account today. + +I've always loved to travel. I previously spent 3 years of my life backpacking, just hopping between hostels around the world. Last year, I was invited to spend a week at the Cheval Blanc in the Maldives and it was a truly eye-opening experience, the first time I got to experience real luxury. + +I'd really like to start my retirement with a bang. What FAT destinations can you recommend? And perhaps more importantly, which luxury travel advisors? + +&#x200B; + +UPDATE: + +Whoa, I didn't expect such massive response. This has been super helpful. + +I especially wanted to thank /u/CupResponsible797 for putting me in touch with Berkeley Travel, communicating with the team there has been super impressive. I'll be starting my first trip with them in just a couple of days. +YouTube for example is full of people trying to teach you how to profit from stock trading, what is the point of wasting time micro managing stocks when index funds exist? Am I missing something? +&#x200B; + +[https:\/\/betterdwelling.com\/canada-has-the-biggest-gap-between-real-estate-prices-and-incomes-in-the-g7\/](https://preview.redd.it/67n7a099ffd81.png?width=944&format=png&auto=webp&s=bde520a377012e4190ed554d07f33f2c4d203b08) + +Since 2005, *house price-to-income* ratios across Canada rose by over 67%. Ontario and BC obviously have it even worse. + +Among the G7 countries, the comparison is outstanding. The second country that worsens its housing affordability is Germany, with a 28% surge from the 2005 baseline. + +According to any economic metrics, something really dangerous is going on in Canada. And yet, many Canadians believe this is totally normal. Time will tell, I suppose. +$17k CC debt at the start of 2020, spread across 4 cards +\+ $8k emergencies over the year += $25k total CC debt paid this year + +$52k net income 2020 (aka take home pay) +HCOL area (USA), my income is around the 40th percentile for my area + +How I did it: + +**50/30/20 Rule, budget based on net income** + +* I try to keep necessities at 50% of take home pay +* Max. rent is 25%. **This is my #1 rule.** I’ve learned that every other area of my finances suffer if I’m paying too much for rent. +* Max. transportation is 7%. **This is my #2 rule.** A large car payment will gobble up all sorts of financial goals. + +**Budget Breakdown for 50% Needs** + +* 25% Rent: I share a house with a few people. I’m so sick of roommates but it’s the only way to keep it this low. +* 5% Utilities: Water, sewer, garbage, gas, electricity, internet, yard, cell phone +* 7% Transportation: Old but reliable car, \~$1k in maintenance/repair per year, remaining costs are gas, parking, tolls, washes, registration, roadside assistance +* 8% Food: I let myself splurge here, within reason, 75% of this goes to groceries and 25% to restaurants. +* 5% Healthcare: My employer pays my insurance premiums, otherwise this would be higher. + +**Get rid of all possible interest** + +* 0% APR Transfers: Opened 2 new CCs at the beginning of the year to do balance transfers; and one of my existing cards offered 0% on transfers so I transferred its balance to a new card, then transferred a different balance to this card, wiping out future interest. There were transfer fees but they were far less than I would have paid in interest. This got me out of future interest for about 2/3 of the debt. +* Avalanche Method: Made min. payments on everything then threw all my extra cash at the highest interest debt. +* After paying off the interest-accruing cards, I paid off cards in the order of 0% promo expiration dates. +* Used my debit card for all new purchases (excluding emergencies). + +**Stare those CC balances in the face!** + +* I had a spreadsheet tracking all my CCs: running balances, interest rates, 0% promo end dates, and payments (past and forecasted). **This was really important because it showed how much I needed to increase future payments if I got behind.** +* It also felt good to see those balances go down and reinforced the reward of paying them down. +* Even though I knew I had racked up a chunk of debt, I didn’t appreciate the total amount because it seemed like a few grand here or there because it was spread across a few cards, not almost $20k (scream face). + +**You Need a Budget** + +* I started ynab in August and that really showed my spending habits. I hated it at first, I still do sometimes (I’m a planner and it’s very anti-forecasting). +* It showed how much I was living on next month’s income, and where I was overspending. +* Ynab is also helping me save better so I can handle emergencies without using my CC or efund (my efund is pretty much: it’s this or homelessness). + +**Advocate for Yourself** + +* I was promised a well-earned raise mid-year that my company kept postponing, and assuring me it would be retroactively applied once the amount was determined. I asked about it monthly and after a few months of being told it was pushed back again, I pointed out how long I had been waiting and that their commitment to me kept getting pushed aside because something else was perpetually more important. I got the raise in the next few weeks and applied the retroactive pay toward my CCs. +* I wasn’t sure if I should include this but it was part of my journey. I would have spoken up for myself without the debt, but my sheer determination to pay it off by the end of the year pushed me to stop accepting, “it’s coming,” and insist on a different answer. + +It took steadfast drive and attention. all. year. long. But I did it! I don't really have anybody to share this with, so many loved ones have had their worlds upended this year. And I wanted to share what worked for me in case it helps someone else. + +I know how hard this year has been for so many people and I'm really grateful I was able to do this. I know the feeling of bills coming in and having nothing to pay them with despite my best efforts. I did everything I could possibly think of to get rid of this debt this year so I'm not living on such a shaky foundation. +I have always wanted to post a REAL warning about Jr. Mining and exploration stocks to all my fellow penny stock investors. + +My background is as a miner in northern Manitoba, Canada. 16 years as a underground mining, and my spouse is a geologist. I know mining and this isn’t a BS post and I ain’t hating on any individual stock or investor. + +What I wanted to tell everyone who invests in theses type of stocks is BEWARE! I wish I could show everyone on this chat how hard and how expensive it is to create a mine! + +Everyday I see people talk about a mining company with great drill results and/or inferred resources. That is just the first BABY👶🏼 step to creating a mine. The work to go from ore zone find to actually making money is a massive amount and that takes years!!! It takes years just to get permission to build a mine especially on land claims and water resources/pollution. + +I spent a portion of my childhood summers in a diamond drill camp my mother worked at as a cook. That huge ore zone that was discovered in the late 90s is still sitting there even though the company stock went up into the dollars per share. Nothing ever materialized. No mine, millions invested and spent with not a rock mined. +In 2008 I watched my father invest a big chunk of his portfolio into a nickel project that seemed like a no brainer. Still to this day no mine! despite camps and roads built and ground broken. Shares went 🚀🚀🚀based off of drill results. I believe they went as high as 0.70$ share and in 2 years it was .01$ a share. Millions invested and spent and nothing yet a decade later. + +So take this as a friendly reminder and warning. Drill results are nice but they don’t produce money💸. Inferred ore zones are nice but they don’t produce money💸 +Huge evaluations based off of ore in the ground but nothing produced is dangerous and extremely risky. +If the mining company you are investing in doesn’t already produce then get ready for a long drawn out process. + +If you are lucky enough to make money on the news of good results then I’m all for it, good for you! Just don’t think or expect a mining stock to hold those levels unless product is being made! +Good luck fellow investors. Hope this helps your future DUE DILIGENCE!!!! +[I retired at 52 with a $3 million net worth — here are 10 things that surprised me about early retirement](http://uk.businessinsider.com/early-retiree-shares-10-things-that-surprised-him-after-he-quit-his-job-2017-4?r=US&IR=T) + +I guess it's what many here already know... but a good read nevertheless. +I’m not hating on those subs, they have their place. Moe Szyslak gave you a hot tip because he was mysteriously outside Marge Simpson’s house for 14 hours yesterday and saw Bill Gates come for a visit? No it does not mean that Hyper Globo Mega Net is going to the moon. Every time someone pumps dogshit.v and a mark says “it’s not on WS” all you can do is be thankful for them. + +And you want to go on a rocket to the moon? All in on AC yeee hawww that’s awesome man yolo420 literally. But please shut the fuck up when it dips 3-6%. It’s not crashing, it’s not ignoring fundamentals. To the moon! Shame it’s a two year trip... + +And honestly the worst of all are the fucking “should I go all in on VGRO or XGRO uwu” crowd. Jesus dude who gives a fuck? O no one of your 6 mass market ETFs has 1.5% overlap good bye sleep. You can’t even live a micro second and apply the ETF philosophy while on an investing Reddit and build a half decent broad portfolio yourself? It’s some daredevil move to pick a Canadian telecom, a railroad, a bank, a REIT and a utility? Wow it’s almost like that absolutely crushes the God and lord SPY over the last 20 years! + +Don’t even get me started on the fucking ethical investors. +I have three call options, one with a 510 strike price. Just before the halt, I got notifications from my broker that all three options were in the money. Before the halt was lifted, I was notified that all three were no longer in the money. + +How much more theft are we going to put up with? How much more blatant can you get? The American market is just as bad, if not worse, than the LME. These idiots seem to have forgotten why there was a French revolution. At some point, people will decide enough is enough. +Wallstreetbets sub exists for a reason... this place is literally titled ASX Bets, yet we have this influx of noobs already trying to karma farm with worse versions of the memes that already exist on WSB anyway. + +Petition to get a USA trading megathread that all dumb fuck "how 2 buy GME pls?" shit goes in? Dunno about others but I come here to see people talk about how to lose money on Aussie pennies... +I was doing fine for a few years. Then on my anniversary with my husband my car broke down, I was without it for a week so I had to rent a car for like $700. Cool okay that was fine, no big deal I can handle that. Then I got COVID. Out for two weeks with no pay. Then my cat got sick and I spent $1000. I have insurance for him and I was waiting for my reimbursement check to come in the mail but someone broke into our apartments mail room and wow, my mailbox was one of the sections that was broken into. Then I had to have surgery, and then complications arose from surgery and landed me into the emergency room. What was supposed to take two days to recover will now take two weeks and AGAIN I am out another paycheck. Late on rent. Can’t afford groceries. + +The line between poverty and lower middle class is so fucking thin. Idc what anyone says you are one emergency away from losing everything. Now I have to decide if I want to risk my health going into work or if I want to risk a roof over my head and be healthy. Fuck this. Fuck the fact that healthcare costs so much money. I hate America. + +EDIT: I am so upset. I’m totally veering off topic now but I know I am not the only person who is going through it right now hence why this sub exists. No one should have to live like this or choose between their health and their job. There shouldn’t be homeless people. No one should have to choose between food and rent. I just want everyone to be healthy and happy and have a roof over their heads, including me and my husband and our cat. I am so disappointed. + +My husband doesn’t work because he goes to school full time. I support that decision 10000% and he has officially stopped working since last semester. I could handle all of our bills and I was completely fine with it. I cut out all of my lavish expenses for him. No mani or pedis. Learned how to do it myself and even cut my own hair now. I don’t spend money going out to eat… like I did everything I was supposed to do and even still, somehow we ended up in this situation. Sorry for my rant. Sorry for anyone who is going through it, too. I am so so sorry. + +SECOND EDIT: I was not expecting this post to blow up like it did. I’m trying to respond to everyone but if I forget to reply, I’m sorry! Thank you to all of those who had such kind words and I appreciate you all sharing stories of your struggles. It does not make me feel good knowing other people have been in similar situations, but hey, it helps to know I am not alone. + +A lot of people have pointed out the “class” systems or statuses, is that what you call them? Anyways after this post I realized I am most definitely considered lower class. I appreciate everyone’s input on this as I had absolutely no idea, and it was very eye opening reading everyone’s responses regarding that. + +Some people have negative things to say about either me getting a better paying job or my husband getting a job and I would like to clarify a few things: First off, my husband had a job for 14 years working with the same company. They worked with his school schedule just fine until they switched management during holiday season, and the new manager is refusing to work with his school schedule. His school schedule is 8:30am and he gets home around 8:30pm, Monday through Friday and it’s a medical program that is pretty rigid and requires a lot of studying. He has been looking for a job but a lot of places now won’t hire him because of his school schedule. + +As for me, I make the most money I can make in my field for someone who had been in my field as long as I have which, to be honest isn’t too long, it’s about average. Yes I have applied to different places, but it’s either too far from where I live, or the pay doesn’t match my current take home pay, also I have a chronic illness and I NEED my health insurance and cannot afford a gap or wait 6 months after a probation period in order for it to kick in, and a lot of the other places I applied for do not offer insurance that compares to the one I currently have. + +I am not making excuses, and if you see it that way idk what to tell you. I made this post because I was frustrated and if anyone else was struggling with this, I want them to know they are not alone. + +Please remember that everyone’s situation is different and just because you worked full time while going to school or you just bought a house to get yourself out of debt, please just realize that there are challenges that others face that maybe you don’t have to. And, that’s awesome you’re in a good place, but please remember that not everyone is lucky like that right now. + +I appreciate all of you giving your advice and sharing your stories. Thank you all so much. + +THIRD EDIT: Some people really just want to be rude and it’s completely disheartening. No, I was not about to let my cat die. No, I didn’t mind paying the $700 to rent a car. It has nothing to do with me being lazy and not wanting to work, like honestly why are you here? This is subreddit is called POVERTY FINANCE for a reason. People don’t just end up in this situation because they feel like it. Unfortunate shit happens. I must reiterate that I was fine paying all of that stuff until I got COVID and then had surgery and had to be out of work for a month due to complications of surgery. Stop shaming people for stuff that is completely out of their hands. I didn’t know I was going to get COVID. I didn’t know I would have complications from surgery. Some of y’all are REACHING. + +But not all of y’all. A lot of everyone that has commented has been so sweet and I love every one of you and I truly hope that you all get in a better place financially. + +FOURTH EDIT: Some of y’all are something else. Finding reasons to shame me for my choices for taking my cat to the vet. Please take your time to read my post or don’t bother wasting your time commenting dumb crap saying pEtS aRe A lUxErY or you will be banned and blocked because I’m tired of answering dumb questions for people who aren’t taking the time to read. No shit, Sherlock. I understand pets are a lUxErY. I have pet insurance. I got reimbursed 90% so in actually I will only be paying $100. Did you miss the part where I said my mailbox was broken into? I’m sorry, but how is that my fault? How is that my fault that I got COVID and suffered complications from a surgery? Stop trying to find reasons to support your stupid “tidbits of advice” as it’s not advice, you’re just trying to be a jerk. + +I came her for a safe space to vent so if you cannot respect that then go do something valuable with your time, call your mom, burn some toast, but please, just go away. Thanks. + +FIFTH EDIT: I just want to thank everyone who has given me suggestions in order for me to get through this. A lot of people have suggested food banks, which I really didn’t know were an option. I found a local one and I will be going there probably sometime today and tomorrow to get basic groceries. + +I didn’t know short term disability was a thing, I called HR from my employer and it actually turns out that I qualify, I wasn’t really told how much I will be getting but I’m just grateful that I am getting some thing, it will definitely help keep my head above water. Thank you to all who suggested that. + +I will also be selling some plasma either sometime today or tomorrow, I don’t know how often I can do it but I will do it as often as I need to. + +And generally just thank you to everybody who have given me such supportive and kind words, I know this is just a temporary series of crappy events, my husband and I will get out of this I am 100% sure of that. I hope that anybody else who is experiencing the same thing will soon feel relief as well. +Given almost all etfs are at an all time high or just a couple of points under, should one buy etfs now? Of course nobody knows whether the market is gonna go down, but it seems so likely... +I have been investing in the market since high school. My first few years I was just day trading, in and out of this stock and that listening to what anything on the internet was saying. I invested in two companies that were completely broke and eventually went bankrupt losing entire investments. Then I started to listen to Warren buffet and the books he recommended and slowly got better but still loved to gamble in the “sure” things online. Anyways the last couple years I have been killing the market.. a little under 40% CAGR. I think I’ve finally have a decent investing philosophy. This last month it all paid off as the stock I have been investing in for years went up a little over 40% giving me a $19,000 gain in a month. This was a weird feeling because it was awesome but it really didn’t feel like I was 19,000 richer. Just kind of seems out of touch. Has anyone else experienced this feeling after having their first great payout? + + +P.S I’m stoned writing this. +Been around for a while and we go through periods of Ethereum vs Bitcoin mentality. This shouldn't be the case because Bitcoin will always remain important in the world of crypto; it's death and loss if credibility will be bad for the entire space. + +At this point the flippening seems to be immenent. I know 90% of the people here are either hxc Ethereum fans or relatively new to the sub, so I think now might be a good time to remind everyone to not shit on Bitcoin(ers) when the flippening actually happens. We want them to join this space. + +Edit: theFlippening is the point in time where Ethereum becomes the dominant coin in market capitalization. Up until now Bitcoin has held that spot. Metrics can be seen at www.flippening.watch + +Removed a sentence because it was stated to be against the rules. +https://twitter.com/DanPriceSeattle/status/1309696726425628672 + +Restaurant industry profit margins are very low, so it seems to me that any franchise paying this much would be bankrupt instantly. +This is kind of part 3 of what's been happening so here are some links to the first 2 posts as well as a link to the original post on WSB about this story: + +Original post - +[My broker (Questrade) wants me to sign an NDA saying I won't talk shit about them after offering me $1200 USD as compensation for losing $50000 from outages](https://www.reddit.com/r/wallstreetbets/comments/frz0fp/my_broker_questrade_wants_me_to_sign_an_nda/) + +Post #2 - [Questrade Legal Contacted me](https://www.reddit.com/r/wallstreetbets/comments/fsnubq/contacted_by_questrade_legal_team_for_permission/) + +Post #3 (Original post on WSB)- [Got a call from police regarding "threats" to Questrade last night... I was read some of the posts you guys made on their sub](https://www.reddit.com/r/wallstreetbets/comments/ft80y4/got_a_call_from_police_regarding_threats_to/) + + +So in the original email where they mention legal action they accused me of threats, extortion and defamation. + +>"We ask that you remove these posts immediately and you cease to use social media to post defamatory and misleading statements about Questrade in an attempt to extort funds from the company. If you do not remove these posts, you are put on notice that this will become a legal matter. Our legal department are already investigating two prior posts you made where you stated that you were ready to "burn down the building" as well as making the following statement: “ if I can’t get my money back I’ll be sure they lose an equal amount in whatever way I can.''" + +Obviously the quotes in the email don't provide full context but the cops understood that and read it back to me. + +Paraphrasing here but this is the comment regarding burning down the building: + +>What is going on with Questrade support? This is such a joke. It pretty much feels like all they're saying is "too bad so sad" and "fuck you". Honestly getting tired with this.. I feel like I'm going crazy... getting ready to burn down the building. What a joke + +So obviously I was saying it as a figure of speech in a time of frustration and not serious in anyway regarding it but regardless Questrade took it to the police. + +The other comment about "if I can't get my money back I'll be sure they lose an equal amount in whatever way I can" was meant as in them losing potential/current client's commissions. Obviously I didn't mean any harm which I clarified in my reply to the original email. + +Basically the police cautioned me and said they don't think I was serious. + +The call I got was around 1:30am EST and I asked if they usually call this late and the officer said that they were just getting to it cause they had more pressing matters (assuming COVID19). + +Just a waste of police resources in general if you ask me. Especially during this time. Like the guy from the TradeDesk said to me in an email... + +>"To keep things in perspective, the world is reeling from a tragic situation. Thousands of people have lost their lives. Our staff have been working around the clock to help our clients get through this unprecedented crisis. In response to our genuine attempts to find an amicable solution, you have threatened and insulted our staff. I urge you to think about your actions." + +I would urge Questrade to think about their actions. + +The officer also asked me if I was the one writing posts about "Questrade killing someone's wife"(?) and I think something about Hitler but I was able to clarify that it wasn't me writing those posts and it was other people who were likely upset. + +Just find it pretty ridiculous that police had to waste their time going through screenshots sent by Questrade of their sub... + +Not sure why they would waste the police's time with this but it ultimately resulted in nothing. It was, in my opinion, obvious that those comments were both said out of frustration and I removed them (along with all comments) at the request of a Questrade employee as well anyway. + + +I think what people should take away from this though is how poorly Questrade is treating its clients. If I were to phone them and be upset I don't want to be scared of potentially having a criminal charge brought forward on me because they took something I said out of frustration seriously and involved the police. Honestly think their handling of this matter has been incredibly unprofessional throughout. Upsetting to think this was a company I used to admire and recommend to countless people. + +Even just a few days before all this happened I was recommending them to friends - https://imgur.com/a/DHVOHhE + +It's amazing to me how poorly they've handled all this and how in less than 3 weeks my opinion of them has done a complete 180. + +What a joke. + + +I'm sure you guys worked this out for yourselves but just want to point out how it's weirdly convenient that they saw the "threats" last week but the police only contacted me after I refused to take down my posts about them... (15 hours after the deadline Questrade gave me to take down the posts) + +Proof I was contacted by police since some people think I am lying about it- https://imgur.com/a/rVU3KfR + +________________________________________________ + +Guys if you want to help get the word out and potentially save other Canadians from signing up with this nightmare of a broker **please tweet this thread at Questrade or Business Insider or marketwatch or bloomberg or anyone else that can write about it.** I don't have an active twitter account so can't really do it myself but would appreciate it immensely. + + +I think it's important for Canadians to know that they could potentially get contacted by the police if they say something to their broker out of frustration or anger. + +People should know what kind of company they are dealing with. + +You can also email the News Tips email on sites with links to these threads if you want. + + +Thanks guys. + +edit: + +To contact cbc: + +https://www.cbc.ca/mediacentre/contact + +and + +gopublic@cbc.ca + +______________________________ + +Edit 2: To those saying I'm in the wrong. I can agree that I shouldn't have said some things but what I want to point out is this + +I understand that but if they were worried about the threat why did they wait until after my second round of postings to bring it up? + +Why wasn't I contacted by police sooner regarding it. + +How is it that police only contacted me about 15 hours after the deadline they gave me to take down my posts had passed? + +If there was a concern of safety they had screenshots of the posts Thursday March 26 at 5:53 pm EST at the latest. + +How is it police only contacted me April 1st at 1:16AM EST? + +13 hours and 16 minutes after the deadline had passed. + +Police also had screenshots of posts made on Mar 30 and Mar 31. + +Obviously I can't know but it seems like they only went to the police after I refused to take down the posts. + +Here's a more clear timeline: + +Step 1 - lose money + +Step 2 - post about it on /r/Questrade (and only /r/Questrade) on every single post and warn people + +Step 3 - mod on /r/Questrade asks for my number + +Step 4 - TradeDeskGuy calls me to talk to me + +Step 5 - TradeDeskGuy says he's gonna see what kind of compensation he can get me + +Step 6 - TradeDeskGuy asks me to remove my posts while he is "going to bat for me" (no joke he really said that) + +>While I review your complaint below can you do me a solid and remove repetitive posts on wherever you posted online. You can keep your original complaint if you wish. Your entitled to vent your frustration but there are limits to that. We have thousands upon thousands of happy clients which you were probably one of prior to the outages and you spamming the boards is giving your bias. It is not a fair representation of Questrade nor does it help when I go to bat for you. + +>I was told you already apologized to those responsible for responding to social posts so I thank you for that. + +>Thanks + +Step 7 - I comply and delete even my original complaint + +Step 8 - Receive 1200USD offer + +Step 9 - Decline offer and post about what happened everywhere I can think of + +Step 10 - Get asked to remove my posts again (by TradeDeskGuy): + +>I have just been notified that you have posted information from our private discussions on Reddit. These discussions were confidential and constituted good faith attempt to resolve your complaint. Your Reddit posts are inaccurate, misleading and contain defamatory content. As we discussed, you incurred a loss as a result of trading in high risk options, which you failed to mention in your posts. + +>We ask that you remove these posts immediately and you cease to use social media to post defamatory and misleading statements about Questrade in an attempt to extort funds from the company. If you do not remove these posts, you are put on notice that this will become a legal matter. Our legal department are already investigating two prior posts you made where you stated that you were ready to "burn down the building" as well as making the following statement: “ if I can’t get my money back I’ll be sure they lose an equal amount in whatever way I can.'' + +>If we do not receive your confirmation by 12pm on March 31, 2020, that you will discontinue posting defamatory content on social media, you will leave us no choice than to commence legal action. + +>To keep things in perspective, the world is reeling from a tragic situation. Thousands of people have lost their lives. Our staff have been working around the clock to help our clients get through this unprecedented crisis. In response to our genuine attempts to find an amicable solution, you have threatened and insulted our staff. I urge you to think about your actions. + +Step 11 - I don't + +Step 12 - Mar 31 12pm passes + +Step 13 - 13.5 hours later I get a call from the police regarding the "threats" that I had deleted in Step 7 + +I think Step was the wrong word to use in all this but does that clear up the timeline for you? +What I'm reading is that we need to bail out companies in order to maintain jobs. Wouldn't it be far more efficient just to pay a UBI-type thing? (Note: I'm not advocating UBI *per se*, rather as a stop-gap in the current crisis.) + +Arguments/my reasoning: + +* If businesses are failing because no one is using them (e.g. air travel), then they are going to continue to need bailouts. Thinking bailouts are a one-time thing vs. ongoing UBI-type payments is unrealistic. + +* We've already seen companies using the cash to buy back stock. OK, we can put in legislation to stop that, but paying people would be far more efficient. + +* Giving working people money maintains money flow - working people buy necessities, rather than investments. + +* Medium/long-term, we would realise either a) we don't need this/that industry or b) this industry needs to be more efficient. It would provide a huge opportunity for innovation and entrepreneurship as people try to fill the vacuum left by collapsed companies. + +I am a complete econ-novice and my reasoning is probably super-naive, so I'm def here to learn! +A hopefully slightly reassuring reminder to readers of UKPF that the average UK salary is £25k. It is £30k if you only look at those in full-time jobs. Keep in mind salaries are 32% higher in London. +Those on incomes of £100k and above are comfortably in the top 2% in the country. + +Only a third of those aged 25-34 own their own home. + +The average savings held are £9,633, for those aged 25-34 it's £3,544. + +Casual readers might look on here and think they are hopelessly behind their contemporaries - you're not, 'normal' is a lot different to what you might think. You're not doing so bad. Stay positive. +[Right now the USA has an unemployment rate - UR - of only 13.3%.](https://www.nbcnews.com/business/business-news/unemployment-rate-falls-13-3-percent-economy-gains-surprise-2-n1223236) However, [according to the Washington Post, "more than 40M people have filed for Unemployment Benefits.](https://www.washingtonpost.com/business/2020/06/04/unemployment-claims-coronavirus/) + +Finally, [according to FRB of St. Louis, there are 164.4M Americans in the workforce.](https://fred.stlouisfed.org/series/CLF16OV) + +So when I do the math, I see that we should be having a 24% Unemployment Rate in the USA. Why is it only 13.3%? +It is absolutely mind boggling that the media has spent the past day or so spreading these bullshit stories suggesting that retail and "meme stocks" pose a serious threat to the market. + +How is it that the ultra rich can basically GAMBLE in the stock market with over-leveraged positions, Dark Pools, insider information, etc. for YEARS and there is nothing to worry about. + +All of a sudden a group of people find out about some bullshit that the ultra rich are doing to generate infinite money and BAM, HOLY SHIT GUYS, THE ENTIRE MARKETS AT RISK OH NO!!!!!! + +I have never lived through an event quite like this. Every day I go online or watch TV and we see some old white guys malding over how dog shit of a company GameStop is. Like, if its so bad, why the fuck do you care? + +The irony is that the more they talk about it, the more obvious it is that GameStop is the ultra rich's kryptonite. + +"Meme stocks" are not a threat to the entire market, they're a threat to the financial terrorists that have been running rampant throughout our markets for decades with ZERO repercussions. I for one am glad that somehow, some way, we found a way to stop all the criminal bullshit that happens daily and quit literally goes unpunished. + +As an XX HODLer just know, if all it takes is for me to simply live my life and NOT sell a few shares of a company that is responsible for YEARS of amazing childhood memories than fine, that is exactly what I will do. + +EDIT: Thank you all for the comments, without going through and replying to every single one just know that it is nice to see we haven’t lost sight of the true endgame. No matter what bullshit they throw at us we stay Zen and focused on the goal; making a fuck ton of money and changing the world for the better. I am proud to be apart of this community. I have been here since March and will never leave. Apes forever strong! See you all on the moon. + +EDIT 2: WOW, I just woke up and honestly can’t believe the traction this post got. Top of r/all? Jeeze. Anyways, please know that I am not claiming we, the apes, have literally crumbled the economy. I am saying that this is the narrative the media is starting to write and it’s bullshit. Please try your best to read my post entirely before commenting. For those that read it, thank you for the comments! Hope everyone has a great day! +I spent my career at FAANG (I'm FIRE now) in the Seattle area. I viewed my position as a winning lottery ticket. Anyone at a higher leadership level at a FAANG makes such an insane salary (by a comparison to any normal income) that FI is clearly possible. Since every one of my peers should have made $300k annually or often much more, you would expect that they're all working because they love the work, not because they still need the money. + +Even with these high salaries, the majority of my co-workers spent a significant percentage of their income. They would talk about anxiously waiting for a stock vesting to pay off some bills. They'd talk about how their car payment (on their Tesla, or fancy BMW) was almost done, which was a relief because it was hard to make ends meet. + +I remember talking to someone who was certainly making 7 figures a year, and had been for years. They said they needed probably another 10+ years to be able to retire, if they could cut down on their expenses. With complete seriousness they said that their third vacation home was probably too expensive, and they needed to really figure out a family budget. + +In the end, if you make a "decent" income, it is 100% about lifestyle creep. It's not necessarily about living like a college student (e.g. leanfire). Lifestyle creep's impact surprises people. It's not always about a third vacation home. Sometimes it's about the slightly more expensive car, and the slightly more expensive vacation, and the slightly nicer clothes. Next thing you know, you've received lovely 5% a year raises, with 6% a year expense increases. That's digging a hole, not improving your situation. + +Anyway, my main point is that income is necessary up to a certain point to be able to achieve FIRE, but the majority of people above that line shoot themselves in the foot all on their own :) +In a 1987 letter Warren Buffett wrote: “after ten years on the job, a CEO whose company retains earnings equal to 10 per cent of net worth will have been responsible for the deployment of more than 60 per cent of all capital at work in the business.” + +I understand that he's talking about the importance of allocation skills but I can't figure out how he gets to the 60% figure. What am I missing? + +Edit: Thanks all for explaining to me like I’m a 5 year old. Extrapolating from the example, the higher the ROE and the longer the time period the more dominant the role of capital allocation. Makes intuitive sense but nice to see it illustrated through math. +Title says it all. I always do my own research, but have done well by previously being pointed in the right direction. High risk coin suggestions are welcome - additional information on why would be a bonus for me. + +Edit: Wow - thanks for all the input this far. I have a lot of suggestions to go research. For clarity, I already have a relatively diverse portfolio. This 1k is for sinking into an up and comer. + +2nd Edit: Since this exploded, I feel it is necessary to let you know where the money went. I put it into TRX at .074. Good speed and best of luck to everyone. +My grandparents (80 and 85, Georgia) get phonecalls from "the Department of Treasury" letting them know they have won $xxx, xxx and all they need to do is send $1000 to some person for "taxes" and then they will receive the money. + +To my knowledge, they have sent $30k in total. + +The situation at hand: my grandma got a letter saying she won $4.5 Million from "Mega Million" and she has to put up $150k (the lottery fund is putting up $250k "on her behalf") and then she will get 4.5M. She also is told she will receive a 2017 Mercedes. She is awaiting a loan for the 150k to come through. + +She is keeping this as secret as possible from her two children (50s). I do not know what to do. My grandparents are okay financially, but this loan would be an extreme hardship. + +Things we have tried (as a family): +- blocking phone numbers on their phones +- calling the scammers ourselves +- showing them Google searches that indicate the phone numbers belong to scammers +- having friends in the police come to their house and read the letters and give their opinion + +Clearly nothing is working. Any advice would be great, thank you. +TLDR: Left some ETH in poloniex when they suspended service in my state. When they didnt un-suspend service when laws changed, I asked for my coins back. They balked at helping me. Its been 1 month, not sure if they ever plan on answering and I'm out 270 ETH (+ other alts). +------------------------------------------------------------------------------------------------------- + +EDIT: As another user as suggested, I'd really appreciate the upvotes for visibility. I hope that this benefits the greater crypto community by educating on the dangers of keeping your funds in an exchange. I also hope this serves as a huge red flag for poloniex users and prospective users. This is how much they care about you (not even enough to have a real person answer your multiple tickets and emails). +------------------------------------------------------------------------------------------------------- + +DOUBLE EDIT: Last night I received a message from poloniex that my ETH withdraw has been initated! Finally got my eth back, thanks to everyone who upvoted, I know that this thread is the only reason I got my funds back. Unfortunately, the Monero and Bitcoin that I had in poloniex were not withdrawn (despite having specified the deposit addresses and balance with “decimal precision”). I’m hoping that these withdraws are also processed, but I’m just thankful that my ETH was returned. Although I was planning to, I have not contacted the SEC or any other regulatory body. From responses on this thread, I realize how many other people are in a similar boat. I hope that poloniex finds a way to increase its capacity to meet customer demand. +------------------------------------------------------------------------------------------------------- + + +I am writing this to make people aware of just how bad customer service has gotten on Poloniex. I have been a customer and user of poloniex since 2015. Most of my eth that I now own was traded for on their exchange. I live in New Hampshire, USA which means back in ~October 2016 my account was "temporarily suspended" due to local laws (which have long since been overruled). + +Poloniex announced a couple weeks in advance that they were going to be shutting down service to NH, so I prepared by withdrawing as much of my funds as possible. I was able to get most off without a problem but there was still a handful (~270) of ETH that I was unable to withdraw before the window closed. At the time I wasnt worried. The note from poloniex stated: + +>You will receive an email with instructions. In brief, you will have until October 6, 2016 (two weeks from the date of this notice) to close any open orders and withdraw your funds. If you aren't able to locate this email, please contact Support for assistance. +>Although your account will be suspended, your data will remain on file. If you attempt to log in, you will be restricted to areas only for viewing and exporting historical data. When we resume operations in New Hampshire, you will be able to log back into your account with all of your historical data and any remaining balances intact. +>Our legal team is working closely with the State of New Hampshire Banking Department and other regulatory agencies to verify that changes in their statutes apply to the services offered by Poloniex and to seek licenses where necessary. This is a nascent industry; as the regulations around it mature, these types of service disruptions may not be entirely avoidable, but we have been and will continue to be proactive in educating regulators and monitoring both existing laws and upcoming changes to these laws so that we can limit interruptions wherever possible. + + +I assumed that as soon as the laws changed (which they did in January), poloniex would re-enable service to NH and I would be able to access and continue to trade my coins at that time. + +Fast forward to May 23 (one month ago)...Despite the NH law changes, poloniex still had not re-enabled my account. The 270 eth that were worth ~$3,200 USD in October are now worth ~$89,100. I decided enough was enough, I needed to take my eth out of poloniex once and for all. As instructed, I contacted support by opening a ticket explaining my situation. I waited over a week and recieved no human response from poloniex. I submitted a new ticket 8 days after I submitted the first, this time I used a different label on the ticket. On submitting this ticket I recieved this automated email: + +>Before closing your Poloniex account you have a chance to provide proof of residency outside of the suspended Country/Estate. +>If you would like to submit proof of residency outside of the suspended Country/Estate please reply to this message and ask for an agent to begin the process of updating your Poloniex profile, do not send any document via email or ticket, the support agent will guide you through uploading the necessary files to your Poloniex profile. +>If you really is a resident of the suspended Country/Estate or prefer to close the account, please login to your Poloniex account and reply to this message providing the exact amount you have on balance of each currency, with decimal precision, and an address for the final withdrawal to be processed for each. +>Please provide an address for each of the currencies, Poloniex may not trade in your behalf. + + +I provided all the information they needed that same day, waited another week, still no human response. + +On June 6th, I submitted another ticket stating that I really needed to withdraw these funds and that I had still not recieved any human response despite fulfilling all automated requests. + + +I waited 5 more days before I finally got message from what appears to have been a human: + +>I do sincerely apologize for the late reply, due to regulations we are unable to process the withdrawal of the whole balance at once unless you submit your full SSN number, i have cleared just cleared the SSN field on your profile, please let me know If/when you upload it and i will send it to verification immediately + >If you prefer not to complete the profile page, your account will be re opened in a limited manner so you can withdrawal the coins yourself at a rate of less than $2000 United States Dollar equivalent per day. +>Best regards, +>Christopher Bologna +>Poloniex Support + +That same day, I logged in, updated my SSN field and replied to the ticket letting them know I had done so. I recieved this response from the same agent: + +>Thank you for entering your SSN, we can now proceed with your full withdrawal,Please log into your Poloniex account and let me know exactly how much you have on balance of each currency, with decimal precision, and address to send the coins to. + +Despite having already provided this info in a previous ticket, I provided it all again. The email response I got (June 10): + +>I will now forwarding you ticket to a agent that will assist in withdrawing your coins and i am afraid there is no time frame for re allowing NH customers,if you need quick access to the coins you wont be able to access them so it is strongly recommended that you send the coins to a wallet you control + +And that was the last I heard from them on this ticket, no one has touched it. + +Two days ago (June 20), I created yet another ticket letting them know that I had recieved no help on my previous tickets and that I really needed my funds from them. I also told them I planned on creating a new ticket each day that I did not recieve a response (which I have). + +Anyhow I'm starting to get a little dejected. I am not sure I'll ever see my ETH again. I'm wondering if I should start seeking legal counsel? Would it be worth the money and effort just to extract 270 ETH that was mine in the first place? If anyone has any ideas I'm happy to hear them. I just want this to be yet another warning to you all, get your coins off exchanges, especially ones like poloniex who seem to get shadier each day. +Hey guys! last year I made a spreadsheet to help myself budget- I'm terrible at sticking to a budget so I made a sheet that breaks it down so that I just have the ability to break it down to a daily manageable amount. + +[Heres what it looks like](https://imgur.com/a/ojaju7a) + +I grew up very poor and had NO sense of what or even HOW to start budgeting. I was taught that money would disappear if I didn't use it, so I just USED it. Even now I still feel anxiety about money and can spend recklessly if I'm not careful. Another problem I faced is that I have ADHD, so impulse control can be hard, and it can also be hard to keep track of every purchase and focus on a bunch of aspects of a budget. This spreadsheet is made so you only focus on ONE number. + +&#x200B; + +The sheet was set up with three goals in mind: + +&#x200B; + +1. that it be easy to use +2. that it focuses on a daily budget that supports long term goals- instead of a long term budget that doesn't have daily support +3. that it be a good starting place for people who have never saved before + +&#x200B; + +So how does it work? + +The main budget is divided into three core areas: + +&#x200B; + +* Income: You use this to fill in your income and choose to have a monthly, weekly, or bi-weekly pay cycle. If you are a worker who is tipped it includes an area where you can add tips, my suggestion is put in your minimum average income from tips- So for example, if you usually make 100 from tips a week, even if you get extra, try to program your budget around the 100 minimum average. +* Expenses: There you can add your expenses. Utilities are bills that are for electricity, heat, phone, internet, or water. Bills are important expenses that you can't miss and are integral to living. Finally, expenses are other things you need to allocate money for- whether it be gas, lunch expenses, transportation- ect. Within your expenses there are TWO areas to which you need to pay attention:-Credit Card Payments: this is new to this year's sheet, use the tab below to fill out your information for up to three credit cards. Decide whether to pay the minimum payment OR choose an amount to pay. The tab will allow you to see how much you're paying and how much interest you're accruing. Once you have filled it out, your budget will adjust accordingly.-Big Purchase: Use this tab to create a budget for a large purchase, and adjust your budget easily and automatically to finance this purchase! +* Budget summary: Finally the most important part of this sheet is the budget summary- Here you will see just how much you can spend. This money is shown in three ways, the lump monthly sum, a weekly amount, or a daily amount. As long as you don't go over that number, you will have enough money for the rest of your budget. It will also feature a breakdown of what your budget it, where your money is going, and what your income VS spending is! + +&#x200B; + +[~~Here is a link to the sheet~~](https://docs.google.com/spreadsheets/d/1YCjtrGVKUM7siXilSaqnlHXwemH-QGBEULZBm5bEDMg/copy) + +&#x200B; + +ou use it like this + +* Go in +* Make a copy +* Change the numbers +* Decide what percentage of your income you want to be saved +* Budget. + +The sheet includes three charts: + +* A bar graph as a simple visual tool to see if you are spending more than you are saving +* A pie chart to see where your money is distributed +* A daily Pie chart to see realistically where your money is going compared to your target savings + +I don't work well with a lot of budgets because I have issues imagining the big picture. By giving myself a daily/weekly/monthly budget I can make sure that on any given day I haven't spent more than I'm allowed to- and if I do i can see where I'm borrowing from or where that money is supposed to come from. + +&#x200B; + +^(NOTE: All Images in the spreadsheet are from vecteezy) + +EDIT: + +# [NEW COPY LINK](https://docs.google.com/spreadsheets/d/1Jm0-n4TP98Vb5FkYKAZIqYOxO1rE9DJV7dWo_zFO31E/copy) +I’ve often heard that having a tax rate that is too high would negatively impact economic growth, but im somewhat confused as to exactly what the mechanism is. + +I’ve heard it argued that taxing the rich more will lead to less investment, but if the money is spent on redistribution to the poor/middle class, shouldn’t it make up for that by giving rich people more money because those people will spend more on goods and services? + +I’ve also heard it argued that high taxes and subsequent spending would hurt economic growth because it would reduce the incentive to work, but I don’t really get that argument either. If people go from working say, 40 hours a week to 30 hours week, wouldn’t that not hurt growth but just hurt the total GDP? Like as long as labor gets more efficient shouldn’t growth still happen? + +At the same time though, it seems impossible to me that we could just increase taxes on the rich forever without any downsides, so what gives as taxes go up? +I'm still so salty about this. + +Last night I went out with 3 friends to celebrate one of their birthdays. After we ate 2 of them wanted to take pictures near the view where we ate and the other one had to use the restroom. They all bailed before the check came and I didn't think much of it when it happened. They didn't come back. I had one of them text me that they ran into other friends while taking pictures and the one in the bathroom left in a rush apparently because of babysitter emergency. I was dumbfounded at the audacity. + +I budgeted for 20-30 dollars for myself. Quite reasonable, I didn't drink or have any extras. They were all wasted from a series of drinks. + +175 was the total. It was my entire weekly budget. I didn't want to stiff on a tip because I've been there before and it sucks. + +I texted them the receipt for them to cashapp me or something. Only 1 of them did it (babysitter emergency) so I feel that her situation was geniune. The other two got really offended. The birthday girl said I should be willing to spot her for her birthday. Nah, not when you drink 60 dollars in drinks and order a 30 dollars freaking steak. (All of which when we were dining I thought I could make better at home but that's a different pet peve). + +I don't go out to eat. This was supposed to be a treat. My first girls night out. Now I'm sitting here trying to figure out how to make my existing groceries last longer because I'm out 100 I didn't expect to be. + +Just to be petty I texted her mom the receipt (we've known each other since we were in middle school). I told her mom that we didn't agree to me paying and her daughter just bailed. I asked if she'd be willing to pay for her daughter because 100 dollars is taking away from my family. I haven't even bought my daughter her holloween outfit.. she's only 1 but still I wanted to do something for the holiday. + +Sorry for the rant. I'm a mix of disappointment and just anguish. I didn't even enjoy my dinner because I kept thinking the food was mediocre for the price. +Please don’t downvote me. I am simply trying to understand. + Do any of you not for guilty for attempting to charge people for shelter during a global pandemic in which everyone is told to stay home? I understand the simpleton arguments like “how can someone not afford one months rent without income” and “you shouldn’t have signed the lease if you can’t afford it”. But, in my eyes those arguments don’t hold any validity during the unprecedented times we live in. The average American family couldn’t afford a $400 emergency before this even happened, so how can they be expected to handle an entire months rent, groceries, utilities, and all other payments when so many peoples jobs have closed? How can you genuinely believe it is morally justified to charge people for the one place that provides them safety in a time like this? + +EDIT: +I’d like to thank all of you that took the time to attempt to have a constructive conversation about this. Ive learned a lot from posting this and I’m hoping other have as well. +My biggest takeaways are that landlords shouldn’t be demonized during this time bc many of you are struggling as well (which is something I hadn’t really thought about before), and our (renters and landlords) issues are not with each other, but are instead with banks, mortgage companies, utility companies, and any other agency that is forcing people (renters and landlords) to pay during a global pandemic. + +I’m hoping this post allows for us to empathize with one another more as well as use our collective frustration to make systemic changes happen that benefit all people rather than corporations. Once again, thank you to all that helped make this post productive. Stay safe y’all. Solidarity. +UPDATE: I went and chatted with my boss. it went well he went to have a sit down with the GM for the establishment to see what the next steps are, and we outlined some future goals it sounded promising hopefully it will end well :). +Asking here as I suspect that there will be knowledge individuals who understand this crisis. + +I thought the Ofgem price cap was there to prevent energy companies making record profits at the expense of consumers being gouged. I also thought that the price cap was going up because energy wholesale costs were rising (so, I appreciate that energy companies can’t buy energy units for £10 and be capped at selling those to us for £8). + +But… energy companies are making record profits. I mean, RECORD. + +So why does the price cap have to go up?! Is it just that we have a legislative mechanism that we can’t control. If energy companies are still making 10s, 100s millions and billions in profits, shouldn’t the price cap remain where it is? +Yes, it looks like a stupid question, but it’s really killing me. + +Real Estate is clearly the most profitable way of investing money and it doesn’t even require big capital at the beginning. Even if monthly income would be slightly negative, there is big value of selling partially paid off real estate after X years. + +So considering it, it would be natural that everybody with proper credit score should invest in as much properties as it’s possible. + +So why most people don’t? What downsides and risks am I missing? + +EDIT: Thank you for so many detailed answers. As I suspected I wasn’t aware of all the difficulties and risks. I hope this can help more people. +https://www.cnbc.com/2020/09/23/mark-cuban-americans-should-get-a-1000-dollar-stimulus-check-every-2-weeks.html + +Cuban says that all American households, no matter their income level, should receive a $1,000 stimulus check every two weeks for the next two months. He proposed this same idea in May and says "I still believe in doing it the exact same way" today. + +Additionally, families would have to spend each check within 10 days, or they would lose the money, Cuban says. He believes this "use it or lose it approach" would be beneficial because it would promote spending, which would help businesses stay open and stimulate the economy. + +Without mandating the money be spent within 10 days of receipt, Cuban believes many Americans will save it. "People are uncertain about their future, so rather than spending, they save," he says. He has a point: Many Americans have been saving more amid the pandemic than ever. In April, the personal savings rate hit a record high, according to the U.S. Bureau of Economic Analysis. + +Thanks for the awards. +There's been lots of posts here [such as this one](https://www.reddit.com/r/ValueInvesting/comments/lxoc3e/is_there_a_free_source_that_calculates_for_me_dcf/) asking for automated DCF's and DCF questions so I'm sharing something I created. The mods have allowed me to post it. + +DCF tool: [tracktak.com](https://tracktak.com) + +Here's an example for IRobot: [https://tracktak.com/stock/irbt-us](https://tracktak.com/stock/irbt-us/discounted-cash-flow?cagrYearOneToFive=0.18&ebitTargetMarginInYearTen=0.1&yearOfConvergence=3&salesToCapitalRatio=2.5) + +If you need help on how to do a DCF, I wrote some docs here: [https://tracktak.com/how-to-do-a-dcf](https://tracktak.com/how-to-do-a-dcf) + +The tool is based on Aswath Damodaran's fcffginzu DCF spreadsheet: [http://www.stern.nyu.edu/\~adamodar/pc/fcffsimpleginzu.xlsx](http://www.stern.nyu.edu/~adamodar/pc/fcffsimpleginzu.xlsx) + +I use it to quickly verify if a stock has a margin of safety based on my projections for it's revenue growth and margins. + +It calculates the beta based on industry average and ERP based on the residing country. It does not use the CAPM model as aswath damodaran does not either. + +Any suggestions for improving just say :). + +See r/tracktak for updates. + +Thanks +I noticed that in those subreddits more and more beginners are posting and advertising coins - mostly not because they really understand the tech behind it - but to pump it up. So beginners are trying to fool other beginners.Now i decided to write down some basic advice to avoid mistakes. + +1) only play with money you can afford to lose. + + +2) NEVER EVER make a buy or sell that is triggered by a feeling of 'not wanting to miss out on a sudden development'. also known as fomo: fear of missing out. Invariably, you will make bad decisions if you do. + + +3) never buy on a sudden upswing. Especially if you don't know why it's swinging up. You may be buying into a hype curve triggered by other people's fomo. When that happens, you'll lose big in the correction that follows. The one exception is if you see a spike and then also find a good reason. When segwit was finally locked in for bitcoin, all the uncertainty ended and the price shot up for a very good reason. Jumping on that train can be a good decision. + + +4) when you finally take a profit and sell, walk away. Don't keep looking at the price. If you do and you see it going beyond the sell price, you may be tempted to jump in again and take a bit more profit. Not only do you pay 2 extra transaction fees, but you will also risk buying into an overshoot which corrects 2 minutes later, and you lose the profits you realized 5 minutes earlier. + + +5) understand that by playing carefully and with consideration, you may actually miss an occasional coin suddenly increasing in price. that is not to be helped. However, it also means that you are not making a lot of blind gambles that will cost you a lot of money. + + +6) do some research, and only buy into projects for which you actually understand the purpose and which you believe may work in real life. a coin needs more than fanboys shills to be valuable long term. + + +7) be very carefull when buying during a time period when there is a lot of euphoria and all coins are going strong. If the entire market is going strong, all coins do well, even the shitty ones + + +8) learn to recognize pump and dump cycles and avoid them. the saying in poker is: if you don't know who the sucker is, it's you. don't be the sucker. + + +9) look at the long term prices and use baselines, triangles and fibonaci and try to think of what you think the correct value to buy is. with some basic effort you can figure it out and set the buy order and walk away. + + +10) Do NOT try to play the game of buying and selling dips. buy dips if you want to play that game, but don't sell with the idea of buying back shortly after to game the dip. this is a good recipe for disaster. If you were holding NEO 2 days ago when it was 0.0039 BTC and sold with the idea of buying back at 0.0033, you'd be cursing yourself badly now that it shot up to 0.0064 + + +11) when buying, don't just look at the timeline, also look at the order book. If you see big sell walls that are not balanced by buy walls, it may be better to wait for the price to drop some more. + + +12) doing the things above takes time and consideration. you will miss out from time to time by waiting to long, but you will also not make catastrophic errors. Also long as your positions are string, you can continue to keep playing the game. + + +Ok this was more than I had planned to write down, and nothing in it was rocket science, but it may help beginners. I surely did not start making decent profits until I started doing this. +According to Why Nations Fail, China appears to have a significant amount of the issues seen in failing nations, albeit does seem to have fairly strong institutions. + +So the question is, can China avoid the fate of states with their similarities, by massive state spending on developing an innovative knowledge run state, or is it destined to fail? + +Edit: I realise it's a more normative than positive question, but still interested. And not looking for some crappy communist capitalist slap fight either. More interested in extactive vs inclusive societies and how that may manifest in China's future. +When you do a google search, you'll find that most results say that only around 10% of traders make money. But as I search through Youtube, I realize that there are a lot of videos that teach Tech Analysis, give free strategies, some endorse their course for some money. I hypothesize that some of these maybe frauds, maybe they're really losing money. So I wonder, why are there a lot of these youtubers, tiktokers, twitter accounts that boast to earn a lot of money when statistic say that only 10% really earn money? +Ethtrader has literally turned into shitpost memes stacked on top of more memes. General discussion has turned into chickens with their heads cut off. How come nearly more than 50% of the posts on the front page of this subreddit are memes? +I am the guy whose bank account details were changed by Zerodha without any authorisation from my side. [Link to previous post](https://www.reddit.com/r/IndiaInvestments/comments/ma3638/review_of_customer_support_and_shady_practices_by/) + +I raised a complaint with SEBI Scores 11 days ago. That complaint was forwarded to NSE last week, and yesterday, I received a call from Zerodha CS rep, admitting their mistake. In Zerodha's words, "Sir, I escalated your query to the DP team, and while checking, they also updated your account details that's why new account details is reflecting on console. Please send a hard copy of account modification form with cancelled cheque to us authorising this change". They were even ready to arrange for a pickup if I were in blr. + +Few takeaways from this incident: +1. SEBI Scores works in timebound manner! +2. Looks like there's not much checks and balances while changing bank account details associated with your demat. +3. Zerodha won't even bother reading and understanding your query before giving a template reply, unless you raise a complaint. +Hi all, + +I am a stay at home mom of two and my husband works 16 hours daily but we can barely afford the basic necessities. Our car is on the verge of break down but cant afford to get it fixed. We live in a very old house in a run down area. We have $105 to our names atm. Our combined credit card debt is like $2000 so no we are not even spending excessively. + +Anyway, after much thought, I convinced my husband and we opened an OF. we are both in great shape, late 20s. Poverty took all my dignity and self-worth so stripping for money cant be worse. As for my kids, all the stress and shame i deal with daily because i cant provide for them as much as i want to and when i have to tell them no when they want an activity or buy something etc because we cant afford it…I would rather them have a good life and deal with the aftermath when or/if they find out when they grow up than continue living like this. + +I dont know how people say money cant buy happiness because poverty is the most soul crushing, degrading, stressful, and depressing thing ever. I cant even tell you the amount of shame, guilt and anger I deal with on a DAILY BASIS! + +Am I wrong for this decision? Maybe. Will i lose family and friends over it? Probably. + +Do i care? Not anymore. Put your two cents in and let me hear. + +Thank you all! + +Edit: for those who asked or are curious, my husband does general labour and food delivery. +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! + +And why did we instead started listening to the uneducated opinions of billionaire superstars, who have already shown through their work ethics on their companies that they could not care less about decentralisation, have no vision for the space apart from profit and memes, and are now working behind closed doors on something that could potentially result in a major fork, where the core issue not only isn't technical, but could be absolutely catastrophic for transactional freedom and decentralisation of miners. + +Please people, please stop feeding them with attention, clicks and your time. Let their own incompetence be their downfall and let people like the aforementioned blockachain pionners and many more that we know exist, provide the appropriate counter arguments. +I decided to pull the trigger and buy a house, but my downpayment money is all in the stock market. + +I'll have to sell about \~100K probably in Jan or Feb for the downpayment. Sad part is my dividend tracker website has told me that I'll break the 10K/year in dividends before the end of 2021. That's a milestone that I've been looking forward to achieving for a while now! + +Anyone else feel the pain of having to sell some of your cherished div stocks because of "life"? +Some background. We bought our house in the tail end of 2019. Got a variable rate with 20 basis point discount. When costing everything out we stress tested ourselves at 6% and everything looked good. Then in Feb of 2020 we found out we were having twins. We made it through with family help and wfh till September of last year when we had no other option but to put the kids in daycare. It started at over $3k a month, we're in Ontario, but manageable because mortgage was still low as was everything else and we had savings outside of our investments to rely. + +Now its July 2022 and our savings are depleting fast and based on our projections by the next rate hike we'll be in the negatives. I switched our mortgage to another variable rate with an 80 point discount. Even with the penalty, we come out ahead. Child care is a bit lower but we're looking at $2k per month until they're 5. So, we have to dip into our TFSA to cover the next year for childcare. Don't know what we'll do past that as the kids have to be in daycare till their 5. + +It fills me with crazy anxiety as I wanted to be able have money to invest more while the markets are at a discount but instead we're selling at the bottom, close to the bottom. + +Hope everyone else is doing good. How do you all cope? +https://www.cnbc.com/2020/09/23/mark-cuban-americans-should-get-a-1000-dollar-stimulus-check-every-2-weeks.html + +Cuban says that all American households, no matter their income level, should receive a $1,000 stimulus check every two weeks for the next two months. He proposed this same idea in May and says "I still believe in doing it the exact same way" today. + +Additionally, families would have to spend each check within 10 days, or they would lose the money, Cuban says. He believes this "use it or lose it approach" would be beneficial because it would promote spending, which would help businesses stay open and stimulate the economy. + +Without mandating the money be spent within 10 days of receipt, Cuban believes many Americans will save it. "People are uncertain about their future, so rather than spending, they save," he says. He has a point: Many Americans have been saving more amid the pandemic than ever. In April, the personal savings rate hit a record high, according to the U.S. Bureau of Economic Analysis. + +Thanks for the awards. +Hey guys! last year I made a spreadsheet to help myself budget- I'm terrible at sticking to a budget so I made a sheet that breaks it down so that I just have the ability to break it down to a daily manageable amount. + +[Heres what it looks like](https://imgur.com/a/ojaju7a) + +I grew up very poor and had NO sense of what or even HOW to start budgeting. I was taught that money would disappear if I didn't use it, so I just USED it. Even now I still feel anxiety about money and can spend recklessly if I'm not careful. Another problem I faced is that I have ADHD, so impulse control can be hard, and it can also be hard to keep track of every purchase and focus on a bunch of aspects of a budget. This spreadsheet is made so you only focus on ONE number. + +&#x200B; + +The sheet was set up with three goals in mind: + +&#x200B; + +1. that it be easy to use +2. that it focuses on a daily budget that supports long term goals- instead of a long term budget that doesn't have daily support +3. that it be a good starting place for people who have never saved before + +&#x200B; + +So how does it work? + +The main budget is divided into three core areas: + +&#x200B; + +* Income: You use this to fill in your income and choose to have a monthly, weekly, or bi-weekly pay cycle. If you are a worker who is tipped it includes an area where you can add tips, my suggestion is put in your minimum average income from tips- So for example, if you usually make 100 from tips a week, even if you get extra, try to program your budget around the 100 minimum average. +* Expenses: There you can add your expenses. Utilities are bills that are for electricity, heat, phone, internet, or water. Bills are important expenses that you can't miss and are integral to living. Finally, expenses are other things you need to allocate money for- whether it be gas, lunch expenses, transportation- ect. Within your expenses there are TWO areas to which you need to pay attention:-Credit Card Payments: this is new to this year's sheet, use the tab below to fill out your information for up to three credit cards. Decide whether to pay the minimum payment OR choose an amount to pay. The tab will allow you to see how much you're paying and how much interest you're accruing. Once you have filled it out, your budget will adjust accordingly.-Big Purchase: Use this tab to create a budget for a large purchase, and adjust your budget easily and automatically to finance this purchase! +* Budget summary: Finally the most important part of this sheet is the budget summary- Here you will see just how much you can spend. This money is shown in three ways, the lump monthly sum, a weekly amount, or a daily amount. As long as you don't go over that number, you will have enough money for the rest of your budget. It will also feature a breakdown of what your budget it, where your money is going, and what your income VS spending is! + +&#x200B; + +[~~Here is a link to the sheet~~](https://docs.google.com/spreadsheets/d/1YCjtrGVKUM7siXilSaqnlHXwemH-QGBEULZBm5bEDMg/copy) + +&#x200B; + +ou use it like this + +* Go in +* Make a copy +* Change the numbers +* Decide what percentage of your income you want to be saved +* Budget. + +The sheet includes three charts: + +* A bar graph as a simple visual tool to see if you are spending more than you are saving +* A pie chart to see where your money is distributed +* A daily Pie chart to see realistically where your money is going compared to your target savings + +I don't work well with a lot of budgets because I have issues imagining the big picture. By giving myself a daily/weekly/monthly budget I can make sure that on any given day I haven't spent more than I'm allowed to- and if I do i can see where I'm borrowing from or where that money is supposed to come from. + +&#x200B; + +^(NOTE: All Images in the spreadsheet are from vecteezy) + +EDIT: + +# [NEW COPY LINK](https://docs.google.com/spreadsheets/d/1Jm0-n4TP98Vb5FkYKAZIqYOxO1rE9DJV7dWo_zFO31E/copy) +I currently have 4 rentals. One is a single mom who works at a bar. I reached out to her the day my state announced: "all bars to be closed for 30 days." I've avoided her messaging me awkwardly. She's been a good tenant, always paid on-time or earlier, and has updated the property by a few hundred bucks w/ improvements she can't take w/ her. I told her if she had the extra money she could pay, if not, then please keep her money and we could square up whenever she could. + +She told me she could pay half, I told her it was up to her, and I wouldn't press her until this stuff got sorted out, but I would be keeping accurate records. + +It's easy to be heartless in the REI game. But at the end of the day, treating people like you wanted to be treated usually ends well. Especially, when it's a good person and they aren't paying not cause they don't want to, but literally, because they can't. + +Anyway, there's my dump for the night. It's always the right thing to do the right thing. Maybe it bites me in the butt and I lose money. And maybe my reserves go crazy low, but I'll sleep well at night. +There’s enormous demand for childcare, but salaries are low. I know that childcare facilities have to obtain lots of licenses, and it seems difficult to set up new facilities, but there still seems to be a big gap between costs and wages. Is all the profit going to owners of childcare companies? I don’t understand the economics of childcare. +Hope its ok to post this here, I know none of my friends would care much or be happy for me but I just need to say it because for once I'm actually proud of myself :) + +$610 per week at my crummy job over the last 19 months. Feels great to finally reach this goal! I know I've been nothing short of a failure so far momma, hope one day I can make you proud for real +Just a quick reminder: the new #Token Pre-Sale date is Friday March 16th, 2018 at 19:00 GMT. We have increased the amount of tokens to 25,000,000 which means that in the pre-sale we will be selling 50% of the #CEDEX Coins. #diamond #blockchain #exchange +To understand the world which the Vertex experts will help investors navigate through, it is important to grasp how the crypto market exploded. ICO markets brought record investment levels during 2017. The idea of an ICO pre-dates 2017, but up until this year, it was a crowdfunding tool that was not particularly popular. Bitcoin’s exponential growth brought many new participants to the crypto market, and a few big-ticket projects called attention to ICOs as mechanisms to support new projects, participate in crypto economies, and get a return on investment, which caused the market to start growing exponentially. +To understand the world which the Vertex experts will help investors navigate through, it is important to grasp how the crypto market exploded. ICO markets brought record investment levels during 2017. The idea of an ICO pre-dates 2017, but up until this year, it was a crowdfunding tool that was not particularly popular. Bitcoin’s exponential growth brought many new participants to the crypto market, and a few big-ticket projects called attention to ICOs as mechanisms to support new projects, participate in crypto economies, and get a return on investment, which caused the market to start growing exponentially. +A hopefully slightly reassuring reminder to readers of UKPF that the average UK salary is £25k. It is £30k if you only look at those in full-time jobs. Keep in mind salaries are 32% higher in London. +Those on incomes of £100k and above are comfortably in the top 2% in the country. + +Only a third of those aged 25-34 own their own home. + +The average savings held are £9,633, for those aged 25-34 it's £3,544. + +Casual readers might look on here and think they are hopelessly behind their contemporaries - you're not, 'normal' is a lot different to what you might think. You're not doing so bad. Stay positive. +TLDR: Left some ETH in poloniex when they suspended service in my state. When they didnt un-suspend service when laws changed, I asked for my coins back. They balked at helping me. Its been 1 month, not sure if they ever plan on answering and I'm out 270 ETH (+ other alts). +------------------------------------------------------------------------------------------------------- + +EDIT: As another user as suggested, I'd really appreciate the upvotes for visibility. I hope that this benefits the greater crypto community by educating on the dangers of keeping your funds in an exchange. I also hope this serves as a huge red flag for poloniex users and prospective users. This is how much they care about you (not even enough to have a real person answer your multiple tickets and emails). +------------------------------------------------------------------------------------------------------- + +DOUBLE EDIT: Last night I received a message from poloniex that my ETH withdraw has been initated! Finally got my eth back, thanks to everyone who upvoted, I know that this thread is the only reason I got my funds back. Unfortunately, the Monero and Bitcoin that I had in poloniex were not withdrawn (despite having specified the deposit addresses and balance with “decimal precision”). I’m hoping that these withdraws are also processed, but I’m just thankful that my ETH was returned. Although I was planning to, I have not contacted the SEC or any other regulatory body. From responses on this thread, I realize how many other people are in a similar boat. I hope that poloniex finds a way to increase its capacity to meet customer demand. +------------------------------------------------------------------------------------------------------- + + +I am writing this to make people aware of just how bad customer service has gotten on Poloniex. I have been a customer and user of poloniex since 2015. Most of my eth that I now own was traded for on their exchange. I live in New Hampshire, USA which means back in ~October 2016 my account was "temporarily suspended" due to local laws (which have long since been overruled). + +Poloniex announced a couple weeks in advance that they were going to be shutting down service to NH, so I prepared by withdrawing as much of my funds as possible. I was able to get most off without a problem but there was still a handful (~270) of ETH that I was unable to withdraw before the window closed. At the time I wasnt worried. The note from poloniex stated: + +>You will receive an email with instructions. In brief, you will have until October 6, 2016 (two weeks from the date of this notice) to close any open orders and withdraw your funds. If you aren't able to locate this email, please contact Support for assistance. +>Although your account will be suspended, your data will remain on file. If you attempt to log in, you will be restricted to areas only for viewing and exporting historical data. When we resume operations in New Hampshire, you will be able to log back into your account with all of your historical data and any remaining balances intact. +>Our legal team is working closely with the State of New Hampshire Banking Department and other regulatory agencies to verify that changes in their statutes apply to the services offered by Poloniex and to seek licenses where necessary. This is a nascent industry; as the regulations around it mature, these types of service disruptions may not be entirely avoidable, but we have been and will continue to be proactive in educating regulators and monitoring both existing laws and upcoming changes to these laws so that we can limit interruptions wherever possible. + + +I assumed that as soon as the laws changed (which they did in January), poloniex would re-enable service to NH and I would be able to access and continue to trade my coins at that time. + +Fast forward to May 23 (one month ago)...Despite the NH law changes, poloniex still had not re-enabled my account. The 270 eth that were worth ~$3,200 USD in October are now worth ~$89,100. I decided enough was enough, I needed to take my eth out of poloniex once and for all. As instructed, I contacted support by opening a ticket explaining my situation. I waited over a week and recieved no human response from poloniex. I submitted a new ticket 8 days after I submitted the first, this time I used a different label on the ticket. On submitting this ticket I recieved this automated email: + +>Before closing your Poloniex account you have a chance to provide proof of residency outside of the suspended Country/Estate. +>If you would like to submit proof of residency outside of the suspended Country/Estate please reply to this message and ask for an agent to begin the process of updating your Poloniex profile, do not send any document via email or ticket, the support agent will guide you through uploading the necessary files to your Poloniex profile. +>If you really is a resident of the suspended Country/Estate or prefer to close the account, please login to your Poloniex account and reply to this message providing the exact amount you have on balance of each currency, with decimal precision, and an address for the final withdrawal to be processed for each. +>Please provide an address for each of the currencies, Poloniex may not trade in your behalf. + + +I provided all the information they needed that same day, waited another week, still no human response. + +On June 6th, I submitted another ticket stating that I really needed to withdraw these funds and that I had still not recieved any human response despite fulfilling all automated requests. + + +I waited 5 more days before I finally got message from what appears to have been a human: + +>I do sincerely apologize for the late reply, due to regulations we are unable to process the withdrawal of the whole balance at once unless you submit your full SSN number, i have cleared just cleared the SSN field on your profile, please let me know If/when you upload it and i will send it to verification immediately + >If you prefer not to complete the profile page, your account will be re opened in a limited manner so you can withdrawal the coins yourself at a rate of less than $2000 United States Dollar equivalent per day. +>Best regards, +>Christopher Bologna +>Poloniex Support + +That same day, I logged in, updated my SSN field and replied to the ticket letting them know I had done so. I recieved this response from the same agent: + +>Thank you for entering your SSN, we can now proceed with your full withdrawal,Please log into your Poloniex account and let me know exactly how much you have on balance of each currency, with decimal precision, and address to send the coins to. + +Despite having already provided this info in a previous ticket, I provided it all again. The email response I got (June 10): + +>I will now forwarding you ticket to a agent that will assist in withdrawing your coins and i am afraid there is no time frame for re allowing NH customers,if you need quick access to the coins you wont be able to access them so it is strongly recommended that you send the coins to a wallet you control + +And that was the last I heard from them on this ticket, no one has touched it. + +Two days ago (June 20), I created yet another ticket letting them know that I had recieved no help on my previous tickets and that I really needed my funds from them. I also told them I planned on creating a new ticket each day that I did not recieve a response (which I have). + +Anyhow I'm starting to get a little dejected. I am not sure I'll ever see my ETH again. I'm wondering if I should start seeking legal counsel? Would it be worth the money and effort just to extract 270 ETH that was mine in the first place? If anyone has any ideas I'm happy to hear them. I just want this to be yet another warning to you all, get your coins off exchanges, especially ones like poloniex who seem to get shadier each day. +[Elon Musk latest Tweet](https://ibb.co/60xctB8) + +On Wednesday Night, Elon Musk tweeted: + +Tesla has suspended vehicle purchases using Bitcoin. We are concerned about rapidly increasing use of fossil fuels for Bitcoin Mining and transactions, especially coal, which has the worst emissions of any fuel. + +Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at a great cost to the environment. + +Tesla will not be selling any Bitcoin and we intend to use it for transactions as soon as mining transitions to more sustainable energy. We are also looking at other Cryptocurrencies that use <1% of Bitcoin's energy/transaction +This checklist might save your day or at least save you some dollars. + +You might think that you would never FOMO into a stock or you might be wondering if this applies to you. Ask yourself these questions to find out if you need the checklist. + +- Have you ever thought of buying some super hyped shares at ATH? + +- Did you consider dropping your savings into the flaming hot coals of BRN and hoping you don’t get BuRNed? + +- Have you thought about joining ‘the team’ in the short squeeze on GME? (there are no teams in retail investing it’s every man for himself) + +- Do you use ASX_Bets or WallStreetBets? + +If you answered yes to any of the precursor questions below then you are in danger of a FOMO trade and need this checklist. + +~~~~~~~~~~~~~~~~~~~~~~~~~ +HOW NOT TO FOMO CHECKLIST +~~~~~~~~~~~~~~~~~~~~~~~~~ + +1. Ask yourself why you want to buy the stock. Are you jealous of others gains? Do you want to be part of that weeks big thing? If yes to either then do not buy. Jealous trading is bad trading. + +2. Warren Buffet said “be greedy when others are fearful and fearful when others are greedy.” Ask yourself if people are being greedy with the stock you want to buy, do not buy if they are. + +3. Ask yourself “am I being a sheep?” Sheep do not make money on the stock market, they don’t even understand the stock market, they are sheep. Don’t be a sheep. + +4. Where did you see the stock? If it was on the news don’t buy it. If it’s trending on one of the subreddits then it’s probably too late. + +5. Is it often appearing on the subreddit and being regularly pushed by the same small crowd? Watch out cause without proof they are probably bag holders hoping to pass the bag to you. + +6. Can you explain to somebody what the company does and why it is a good idea to buy it? If not then you shouldn’t buy it yourself. + +7. Is the market mostly red or mostly green that week? Sell on green weeks and buy on red weeks. It might feel like the other way around at the time but that’s emotional trading. + +8. Is it a meme stock? If yes then be an early adopter or don’t adopt at all. + +9. Have you got spare capital? If money is no issue to you or if you are making a small punt that won’t harm your finances then go ahead. If you are making a big, late move into a meme stock then you’ll be seeing red. + +10. Does it have 🚀 emojis in the DD’s? If yes then disregard all previous steps and bet your house on it. +Nine days ago I called my mortgage co. and asked for them to draw up an early renewal, the rate was 5.19% and I had ten days to reply. Just had a gut feeling it was going up. Cost is $200 extra per month and the early renewal fee was $1600. That’s over $13K over the next 5 years… hope I made the right choice… +Honestly, I didn’t want to post this myself since there’s probably two dozen of these posts in the queue, but all of the recent ones look like they’re written by 8 year olds. + +Normally this belongs in the daily advice thread, but because of recent events and concerns over Robinhood’s ability to serve customer(I been telling y’all for years) we can have a thread in it + + +So here we are: recommend and discuss brokers, fees, features, mobile apps, whatever. In general I think everyone is best served by Fidelity, Schwab, or Vanguard. TD is another major player but for those unaware they are in the process of being acquired by schwab. All three of those actually have phone numbers where you can call and speak to a person about your account. + +For the younger crowd; a phone call is similar to voice to text, but instantaneous. + +Also, feel free to chat apps or whatever too, + +E: [here is an overview of what happened with Robinhood](https://reddit.com/r/investing/comments/l7t4pg/an_explanation_of_why_robinhoodapp_nonnefariously/). No conspiracy theories or anything included, just a technical explanation. + +Also, [my comment and subsequent conversation around liquidity concerns at Robinhood](https://reddit.com/r/investing/comments/l7qlfh/_/gl88dzj/?context=1) + +Please note - I don’t have any special insight here, this is strictly my and others interpretation of the tea leaves. Feel free to discuss, and explore other interpretations. Whatever broker choice you make is up to you, the important thing is that it is an educated choice since it’s ultimately your money. + + + +#**No referral codes. Posting a referral code will result in an immediate no questions asked permanent ban** + +Thanks. +How do I stay away from getting scammed while buying a property? + +My family is buying our first home. We found the agent online & he showed us few flats. We liked one and did some negotiation & now have a good price for it but I'm a bit sceptical because we found the agent online & I've been scammed once before (It wasn't related to property & wasn't a very big amount either but it was enough to make me paranoid) + +Here's some info on the flat: +The ones selling are the first owner of the flat. A little bit of their loan is still remaining which they will clear from the money we give. + +Any help would be very appreciated. Thank you! +I'm from Argentina and every time I find myself talking about economics with someone who actually knows their stuff, they always tell me that globally Argentina is known as uniquely difficult to understand for foreigners when it comes to economic case studies. Is this true? Or is that just us wanting to feel special? +With Christmas coming up and costs continuing to rise, I thought it might be useful to repost this list of ways you can earn some extra money here in the UK. I know when people typically think of using sites/apps to earn a few extra quid that "50p surveys" are the first thing that comes to mind, so I'm sharing this list to show that there are much better options out there for folks in the UK who have some spare time on their hands and could use an extra few hundred pounds. + +So with that said, I decided to create this guide detailing how I would approach a few different scenarios because, after 2 years of earning money from online work and having tried out many different means of generating extra income, I'd like to think I can offer some advice in this area. + +The 3 Scenarios are: + +**(1)** How I would go about Earning **£200-£300** in the next 30 days if I had no money to spare. + +**(2)** How I would go about Earning **£400-£500** in the next 30 days if I had £100-£200 to spare. + +**(3)** How I would go about Earning \~**£150** from referral offers. 1-2 days needed to complete, Payout times vary from one day to several weeks. + +&#x200B; + +# Part 1: Earning £200-£300 in 30 days (No money needed) + +If I was dead set on making an extra £200-£300 in the next month or so, the sites below would be my target for online earning. Of course, I can't guarantee exactly how much I will earn from using these sites every month, but below you can see how much I earn on average from using them. + +I don't have any special skills or qualifications. When I started working on these sites, I had no experience in any of the types of work that I do now. If I can work on these sites and Earn £200-£300 per month, then you definitely can too. + +&#x200B; + +**Userlytics** **/** **Ustertesting** **(£30-£60 per month):** With this site, you test out the usability of apps and websites and get paid for it. The pay can be very good and the work itself is actually very engaging. I quite enjoy using this site. + +Your work will consist of completing a series of tasks and instructions and interacting with prototype or production websites or mobile apps while speaking out loud to share your thoughts, emotions, criticisms, and suggestions. It probably sounds very different to the type of online work you usually do because, well, it is. It's certainly a site where the work doesn't feel like a chore, I would highly recommend it. + +&#x200B; + +**Appen** **(£50-£200 per month):** So this is a site where you can apply to work on various projects and tasks online. I open the Appen app daily and there's never a day when I'm not greeted by a variety of tasks that I can apply for. The rate of pay is very competitive, with some jobs paying up to $20-$25 per hour. Most jobs pay around $15-$20 per hour (which is still fantastic for online work) and I have never found it difficult to qualify for projects. + +The site is legit and it actually feels like real work for good pay. The potential earnings from this site over the course of a year can easily enter the £100s or even £1000s, so if it's not on your radar it really should be. + +Apply for as many projects as you can, it's well worth taking the time to apply because even if you get one project, that's hours of work at a great hourly rate. + +&#x200B; + +**Prolific** **(£20-£60 per month):** I would go as far as saying it's one of the top task/survey/study sites out there. With Prolific you get paid cash for engaging in the research of Academics and Universities from around the world. There are Surveys and studies about scientific research, new products and public opinion. From minutes to hours, to multi-part studies over longer periods, there's a respectable range of studies to participate in. + +It Pays out to Paypal, has a range of interesting surveys and the studies on the site pay a minimum of $6.50 per hour. + +You should also install the browser extension for chrome so that you get surveys while they're going. + +&#x200B; + +**Neevo** **(£30-£40 per month):** Companies submit projects to Neevo to help improve their AI systems. When you’re a match for a project, you’ll be asked to complete a set of simple tasks, which could be in the form of text, audio, images or even video. + +It's a straightforward 'task for pay' site. They payout through Paypal and the variety of projects is good. Also, I think it's cool that you're helping to train AI, although this is the basis for most of these 'task for pay' sites nowadays. + +My advice would be to keep your eyes peeled for projects with bigger payouts, Some of the lower-paying projects aren't really worth it for the time you need to put in. + +&#x200B; + +**Dscout** **(£20-£50 per month):** So with this site you are rewarded for helping with Market Research. The way this works is that you are given "missions" where you offer your opinions/feedback on various products or services in exchange for payment. + +The Pay is very good and payout is received promptly through Paypal. I also like that you answer photo and video questions, it keeps me that bit more engaged. + +Check as often as you can for available missions and apply for all of them. It may take a little bit of time to get your first mission but once you do, more and more will appear. + +&#x200B; + +**Respondent** **(Payout varies quite a bit but definitely has high earning potential):** + +I'm sure some of you have heard about Respondent, It's a site where you get paid for taking part in various studies. The studies can be both remote and in-person but these days most of the available studies are remote. + +It doesn't take long to apply to studies so even if you don't qualify, you haven't wasted too much time. Also, the pay is excellent when you do qualify, with studies paying between $15-$200, depending on the type of study and the amount of time it takes (Generally ranges from 15 minutes to an hour). + +It's not a site that you can depend on for frequent payouts, but even if you land a few studies that pay $50, $100, $150 etc each, you're doing very well for the time you put in, So I think this one is worth checking every day if you have 5 minutes to spare. + +&#x200B; + +**Intellizoom** **(£20-£40 per month):** This is a site similar to Respondent where you get paid to take part in studies. It doesn't take long to set up your profile and get started and some people I know have had a lot of success using this site. + +&#x200B; + +**UserInterviews (£30-£60):** Another site where you can take part in studies and get paid for it. Some people seem to have a lot of luck with this site, and it pays quite well too. + +&#x200B; + +# Also: + +These Earners are a little different since they aren't really 'online work', but they have served me well in the past too... + +&#x200B; + +**Facebook Marketplace:** Sell your old stuff. This one should honestly be mentioned in every thread where someone has asked how to make some extra cash in a hurry. + +We all have stuff we don't use anymore lying around the house and as obvious as it may sound, the items that seem old and worthless to you will be new and exciting to someone else. + +I'm talking anything, literally anything: Old clothes, books, plant pots, technology you don't use anymore, pots and pans, empty jars, homemade crafts etc. + +Old Clothes seem to really sell fast, which isn't surprising because people get excited when they see something that's their style and really cheap. So clear out your wardrobe. + +If you're into crafts, you could sell stuff you've made there too. Last summer I made large painted flower beds out of pallets and sold them, just because I had some pallets and paint laying at home. + +The point is, You could easily make £50-£100 or more if you do a thorough sweep of your house for stuff you don't want/use anymore. + +&#x200B; + +**Vinted:** A fantastic Site/App where you can sell your old clothes. Maybe it doesn't sound like your thing or you don't think you have anything fashionable enough to sell. Believe me, You can sell any item of clothing here. + +Old hoodies, shoes, gifted clothing that you never wore etc. I've sold my old clothes here in the past and been pleasantly surprised with a nice few sales. + +&#x200B; + +**Fiverr:** Offer your services as a Freelancer and get paid. You can earn a lot from the "gigs" you post, but you'll need to have some kind of service you can offer that people will pay for. I'd recommend taking a look at what other people are posting and seeing if you could offer similar work. + +&#x200B; + +**Rover:** Saving the best for last. This one is quite a lovely site where you can offer your services as a dog sitter/dog walker. You can have dogs dropped off at your home and get paid to look after them for a duration of time. + +It's ideal for people who miss having pets or who get a bit lonely working from home sometimes. The pay is usually around £20 per day for dogsitting, maybe £6-£10 for dog walking. If you're at a loose end anyway or just feel like having a furry companion during your free time, This site is a lovely way to earn a little money and make some canine friends. + +You just make a profile and enter your address so people in your area can find you, Bonus points if you have a dog in your profile photo with you. + +&#x200B; + +&#x200B; + +&#x200B; + +# Part 2: Earning £400-£500 in 30 days (£100-£200 needed) + +This one is quite a unique means to make extra money in a short period of time, It's called Matched Betting. It's a very simple process but it's imperative that you read the Guides in full before you begin. + +Matched Betting is where you use bookmaker sites to complete various 'Free Bet' offers (e.g Bet £10, Get £30 in Free bets), but the whole idea behind the process is that every time you "make a bet", you match that same bet on the exchange (meaning the value of your qualifying bet will always be returned to you). + +So for example, if I bet £10 for Real Madrid **to Win** on the Bookmaker Site at odds of 2.5, I then also make a Matched bet on the Exchange (This is a separate site such as Smarkets or Betfair) where I bet for Real Madrid **not to win** at odds of 2.5 (or as close as I can get to those odds). In this way, I am covered in all outcomes (win, lose or draw), and it allows me to fulfil the requirements of the bookmaker's offer (e.g Bet £10 and get £30 in Free bets). The money from my initial bet has now been returned to me and I also have a £30 free bet credited to my account. + +When I receive my £30 free bet, It's the same process of matching again but this time using my free bet on the bookmaker site. This is where I secure a profit, because I'm not using 'real money', and even if I lose on the bookmaker site, I will be paid out on the exchange. + +This one is great if you can spare some money to get started. Your money isn't 'invested' or 'tied up' in anything, It's just that you'll need cash in order to complete the various free bet offers. You can withdraw your money at any time, but most people leave £100-£200 in their accounts just because it's easier than depositing money every time you want to do an offer. Over the course of 30 days, that £100-£200 or so will grow to £600-£700. + +The main advantage of Matched Betting is that it really doesn't take a lot of time to hit that £500 profit mark. Over a 4 week period, I worked my way down through the list of welcome offers, nice and handy, and having completed 20 offers at 15 minutes per offer, I came out at **£470 for 5 hours total of work.** + +Not to knock paid projects/survey sites, but if you don't have the time or desire to invest in that kind of online work, the obvious advantage with Matched betting is speed and simplicity. + +EDIT: I've received a lot of messages asking for more resources on matched betting. For those interested, you can find the process explained in full detail in this [**Guide**](https://www.reddit.com/r/beermoneyuk/comments/wvr98r/a_guide_to_matched_betting_how_to_make_your_first/)**.** + +**NOTE:** If you have a history with gambling, do not come near Matched Betting. Matched Betting is not gambling, but the fact you will be using betting websites to facilitate a profit is too much of a temptation- It's not worth it. + +&#x200B; + +# + +# Part 3: Earning ~£150 from Referral Offers + +The offers below will allow you to earn a minimum of \~£150. This is a handy list if you need to earn a decent amount of money in a short amount of time. For a lot of these offers, you can withdraw the money you earn back to your bank account in the same day, but for a few of the offers, it will take longer. + +**Important:** In order to get the bonuses from the offers below, you will need to sign up to each app/site through a referral link. There is a subreddit called 'beermoneyuk' where you can find referral links for any of the below-mentioned offers by searching the subreddit for 'Zilch', 'Luno', 'Snoop' etc. and you'll find plenty of posts with referral links and more detailed steps on how to complete each of the offers below: + +&#x200B; + +Zilch **(£5):** Sign up through a referral link, Verify your ID and you will see 500 points (worth £5) appear in your account. + +Shares **(£5):** Sign up through a referral link and verify your ID. Deposit £1 and you will Instantly receive £5 which you can withdraw after 30 days. + +Snoop **(£5):** Sign up and link a bank account. After 28 days you will receive an amazon voucher by email worth £5. + +Luno **(£10)**: No referral link needed for this one, Just download the Luno app, sign up & verify ID (5 mins) and enter a BP code into the 'rewards' section of the app. You will instantly be credited with £10 BTC. Absolutely free, No Deposit or Purchase necessary. + +Monese **(£10)**: Deposit and spend £1 to receive £10 to your account. + +Monzo: **(£5)** Deposit and spend £1 to receive £5 to your account. + +Mode **(£10)**: You make a deposit of £20, buy £20 worth of Bitcoin, sell the £20 worth of Bitcoin back to GBP again and you get your £10 credited Instantly (It will show as pending and be available to withdraw in 24 hours). + +Blockchain **(£10):** You make a deposit of £20, buy £20 worth of Bitcoin, and you get your £10 credited Instantly. You can then sell everything back to GBP and withdraw your £10 bonus after 7 days. + +Cashapp **(£10):** Free £10 when you sign up through a referral link and send £5 to another Cashapp user (Someone you know who will send the £5 back to you). + +Wombat **(£20):** Sign up and open a general investment account, you will receive £20 for free. Invest your £20 and hold it for 90 days. + +Coinbase **(£27)**: No deposit or purchase needed, just go to the site and earn \~£15 by learning about different cryptocurrencies. Earn an additional £12 by signing up to the site through Quidco and making a single transaction. There is no minimum amount for this transaction, simply buy the smallest amount of a cryptocurrency that you can on Coinbase and you will be eligible for the cashback. + +Revolut **(£12):** Sign up to Revolut and go to the "learn" part of the crypto section of the app, you can earn around £12 for completing the cryptocurrency quizzes, which you can then convert to GBP and withdraw. + +Remitly: **(£23):** Make a transfer of £100 ( to yourself) and only pay £75, securing you a profit of around £23 after Remitly's transaction fees. + +Swissborg **(€1- €100):** Deposit £100/ €100, Don't buy anything. As soon as you make the deposit you will get a Reward Token, you 'scratch it' to reveal an amount between 1-100 euros in the app's currency, sell it back to euros/GBP and instantly withdraw your original deposit + Profit. + +&#x200B; + +&#x200B; + +And that's it, I hope this guide will be of help to some people, if you have any questions or suggestions don't be afraid to comment. + +Cheers +I see a lot of new posters here talking about how they are a former WSB user, lost a lot of money, but now have outsized gains "due to Thetagang." They then proceed to show CSP or even Credit Spread positions on tickers like AMC, TSLA, RIOT, PLTR, TLRY, etc. These users are still taking on massive risk. Let me explain. + +The standard thetagang strategy is selling out-of-the-money puts on a ticker the user would not mind owning. By definition, these puts are less than 50 Delta meaning as the stock increases the strategy will profit at a rate of <50% of the underlying movement (this decreases as the stock goes up more). However, you still have all the downside of the stock. This means if we get an extended downturn or even a prolonged pullback, you are open to all the downside of these uber-growth stocks that **historically perform the worst in the bear market**. + +Thetagang tends to reduce volatility on a given underlying at the expense of some returns. However, if you are targeting at +200% IV underlying, you should still expect a very high portfolio volatility. That works great when we have the longest raging bull market in history. However, if this thing turns down, you are going to be stuck holding WSB style loses with no ability to sell calls anywhere near your cost basis. + +All I'm saying is you need to pay attention to the underlying and understand how you would feel if the stock shit the bed. If you don't have a plan for your meme stock dropping by +50% over the next year, you probably should reconsider your strategy. + +I personally have allocations to CSPs on GME. However, these are: + +1. Way OTM +2. A small percentage of my portfolio +3. A stock I would not mind owning if it cratered to $20, $10 or even $5 over the next 2-4 weeks. + +Again, I'm not saying don't do these strategies. I'm just saying please be aware you can still have WSB style loses with thetagang. +[Elon Musk latest Tweet](https://ibb.co/60xctB8) + +On Wednesday Night, Elon Musk tweeted: + +Tesla has suspended vehicle purchases using Bitcoin. We are concerned about rapidly increasing use of fossil fuels for Bitcoin Mining and transactions, especially coal, which has the worst emissions of any fuel. + +Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at a great cost to the environment. + +Tesla will not be selling any Bitcoin and we intend to use it for transactions as soon as mining transitions to more sustainable energy. We are also looking at other Cryptocurrencies that use <1% of Bitcoin's energy/transaction +In my case, I noticed more windshield cleaners in traffic lights and several car dealer agencies closing their doors around Sydney. +Tell us what you've noticed. +Interesting little thread on [Twitter](https://twitter.com/EpsilonTheory/status/1355526361570541572). + + +*We’ve started tracking the narrative structure of* r/wallstreetbets*. Over an 8 hour period y’day, we tracked \~30,000 posts. Of those posts, 97% were removed by mods/filters. It’s all bots, all the time.* + + +*BTW, you're also being played on Twitter. Me, too. I used to think it was the quality of my tweets that drove my follower count going up or down. LOL. I can track almost to the hour when Twitter turns on or off their promotion algos for my stuff.* + + +*This isn't about bots or any individual mode of spoof. It's about how ALL of social media has been successfully gamed by investment pros, is being successfully gamed by investment pros, and will be successfully gamed by investment pros. Meet the new boss, same as the old boss.* + + +*And by investment pros I don't mean "hedge funds" (although yes, that, too).* + +*I mean* [*@elonmusk*](https://twitter.com/elonmusk)*, I mean* [*@Benioff*](https://twitter.com/Benioff)*, I mean* [*@chamath*](https://twitter.com/chamath) + +*I mean every billionaire who goes on Twitter or CNBC to tell you \*how to think\* about their latest promote.* + +What are your thoughts? +I keep hearing that a recession will happen due to inflation in the future and I'm getting worried some people are posting so many conflicting stories every day and all the time. I hear soft landings for the US economy I hear a second great recession I'm hearing it won't be until 2024/25 it's all over the place and I'm so confused. +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. + +*** + +Resources and other information: + +* 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). + +* 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. + +* **The daily thread will no longer be stickied so please remember to upvote it for visibility.** + +*** + +Thank you in advance for your participation. Enjoy! + +Context for the question about price freezing: + +> To control inflation, Argentina’s government imposed a 90-day price freeze on 1,245 mass consumer products. The information was released by the newspaper Clarín. +> +> Secretary of Commerce, Roberto Feletti, asked companies to send price lists by October 1st. Prices will remain unchanged for consumers until 7 January. The government’s expectation is to send a clear signal of price stabilization. +> +> The “3-month stabilization agreement” was presented by the secretary Feletti to 40 entrepreneurs this morning. They represent the main food and other foodstuffs factories. + +https://playcrazygame.com/2021/10/14/argentina-freezes-prices-on-1245-products-for-90-days/ +I spend $3100 per month (on average). But in Jan-March, I spent $3900 per month. Yikes. Some of the spending was out of my control, some of it was impulsive (don’t be mad at me, Dave Ramsey!) + +Overspending by $2500 is normally bad, mmk. + +But the power of **paying myself first** saved my butt. + +401k – automatic. + +Roth – automatic + +HSA – automatic + +Savings – automatic + +Every month, I put away $2K+ without ever seeing it. + +So even though I overspent by $800 each month, I still made progress during those months. + +All because I pay myself first. + +Just a quick anecdote that might inspire you to pay yourself first and provide that all-important safety net. +I know there are a lot of Cathie Wood fanboys on here, but I want to ask a legitimate question. What great trades has CW made during this downturn. Seems like every single trade she has made has gone to shit especially her top 10 holdings. Every time she buys something it drops like 7% the next day. Has she made any good trades recently? + +Also shut the fuck up about "Highest conviction stocks" and "5 year time horizon". Both of those are buzzwords she uses to keep you locked in. Repeating them again and again makes you look like a brainwashed cult member. Like No... REALLY? You're telling me shes buying stocks she believes to be high conviction? As opposed to stocks she thinks are going to fail? When the hell did the 5 year time horizon start? Her funds been out for a few years already and I am starting to think the time horizon ended in Feb. +Welcome to the Community Discussion thread of r/EthTrader. + +This thread is a place for community meta discussion - to learn or make suggestions for how community members could be better served. Donuts are a welcome topic here as is non-donut related discussion. + +[Earn donuts for providing uniswap liquidity on the DONUT-ETH pair](https://cloudflare-ipfs.com/ipfs/QmajDWDWim8r6muJP1DgFysEAiWVYFf5spw9itY5MgX24W): 100k donuts distributed each week. + +[How to register for Donuts](https://www.reddit.com/r/ethtrader/wiki/donuts/how_to_register) + +[Previous Community Discussion](/r/ethtrader/comments/hcjo38/community_discussion/). +If I were to live a lifestyle where I constantly have to use credit cards due to spending more money than I earn, eventually debts will spiral out of control, I won't be able to pay them back, I won't be able to borrow money any more, and not only do I end up where I started in terms of financial constraints to my expenditure, I'm worse off because I have a mountain of debt I wouldn't otherwise have to contribute to out of my income. Unless we're talking about something like a house, where realistically it makes sense to 'buy now, pay for later' and borrowing isn't irresponsible. + +When it comes to policy at state and international level, however, this type of thing seems to be the norm. Nations behave like an individual maxing out credit cards to sustain a lifestyle they can't pay for, which eventually must come crashing down. I know that in theory, governments should take advantage of economic cycles, borrow money during bad times to stimulate the economy and keep the coffers full, then run a budget surplus when the good times are back and pay off all debts until the next economic downturn. I practice, this doesn't happen, though. Nations seem to be in a permanent budget deficit, permanently borrowing, permanently in debt, regardless of what the economy is doing, and it looks as though this will remain the case for the foreseeable future. + +Are the governments of the world aware that economies running on borrowed money is unsustainable, and simply lack the political will to do anything about it because of how unpopular measures to correct this would be, so kick the can down the road for the next people in power or until the whole system collapses? Or do the rules that apply to individuals not apply to economies, and debt can continue forever sustainably? It is assumed you can continue to borrow perpetually if growth outstrips debt? Isn't this assumption irresponsible, then? +Saw this question in another subreddit and I just want to know what it’s like in this one. I've been considering going to university for an economics program so I was wondering if you guys could share with me what your day to day life as a economist is like. + +EDIT: Thank you so much for my first award! I’ve read a lot of the comments already (three days late because of ongoing exams), but I’m looking forward to learning more about economics. +Dear investors, i wish you a good day. + +I started investing in November 2017 and before i realised what was happening, my super fast gains ended in a bursting bubble and a year of decreasing prices. Im down 52% of my investement and i would love to see how this community is holding up. + +&#x200B; + +Im sure we will see new ATHs in the futute so im not that concerned about my actual "loss". Lets see this subreddit as a support group where we are here for each other (even if its quite tocix from time to time). Dont loose hope because this technology can and will change the future. + +Happy holding and trading everyone! + +[View Poll](https://www.reddit.com/poll/9l9do1) +I am trying to understand how cryptocurrencies have value. I always thought money had value because you can translate it back to gold or silver, and this made cryptocurrencies look like an absolute joke thing. In university i took a basic economic class and there i found out that we dropped the gold standard a long time ago. I was taught that the money we use today has value because people trust it has value and trust that people will accept it as a currency, and the demand for it determines its worth. Is this true? Could someone just clarify it a little bit, maybe with an example? I don't think i understand it well enough. And if i am off my rails, please correct me. +Hi, first post here. Long story short, DeKalb county (GA) recently contacted me to inform me that half an acre in a residential area that my father purchased in the 70’s is about to go up for auction in less than two weeks unless I/we’re willing to pay the property taxes that are past due. The total is less than $2k and it seems like a no brainer but I would like any advice before I cough up the cash I.e. the possibility of other leans against it, do I contact an attorney etc. I’ve never owned land before and am admitting to being a complete novice in this field in addition to being skeptical. Any and all advice is welcomed and appreciated. Thanks! +Which is better investment? + +1. Buying a flat and save rent. (will need to take house loan of approx 50L). + +2. Live on rent and invest in mutual funds. + +I live in delhi and come in 30% tax bracket. If I take house loan to be payable in 5 years, the interest(with 8% interest rate) that IDelhi will have to pay would be around 10L. If I apply for income tax exemption under section 24 for the interest of house loan, I reckon, I can potentially save \~60-70K in taxes every year for 5 years. So, effective interest to be paid for 5 years will be 7L(not 10L). + +Rent saved will be 12L(20k per month). + +The overall profit will be 5L(12L-7L) if I buy a flat.(and peace of mind). + +If I invest in mutual funds, i might get 20%(approx) returns for 50L invested in 5 years. That sums up to 20L. If I subtract rent paid for 5 years, (20k per month), overall returns will be (20L-12L) 8L. IOverall profit will be 8L if don't buy a flat. + +These calculations are made leaving some important factors such as appreciation of property. Buying a flat doesn't seem a bad option to me, but I know many people with approx same conditions, don't prefer to buy flat these days. Am I leaving out something more to be considered here? +It’s just a circle jerk of someone with 23% VOO to someone with 25.5% VOO then a smattering of the most popular ETFs. This sub is boring as fuck. It’s the same shit daily. “Ohhhh I’m 123 years old and I put $900 into VOO and ARK series ETFs when you said they would dip” + +Fuckin hell +*Disclaimer: I am not a financial advisor. This entire post represents my personal views and opinions, and should not be taken as financial advice (or advice of any kind whatsoever). I encourage you to do your own research, take anything I write with a grain of salt, and hold me accountable for any mistakes you may catch. Also, full disclosure, I hold a net long position in GME, but my cost basis is very low, and I'm using money I can absolutely lose. My capital at risk and tolerance for risk generally is likely substantially different than yours.* + +Rather than doing a writeup of Friday, I think the time I have at the moment would be better spent going over some conceptual market mechanics. As I mentioned in my previous post that covered some light analysis of the week, my first glance was that Friday was a low conviction, low volume day where momentum traders/and volatility arbitraging HFT algos were skirmishing, and a slightly deeper look tells me that's probably the case for almost the entire day, up to the last minutes before close. + +There was a bit of a push toward the end of the day just to extract maximum interest charge pain. Keep in mind also that on Friday many of the retail brokerages still had issues with GME, and GME price was also protected from aggressive short-side attack due to the uptick rule. + +# Capital Flow, Liquid Float, and Price + +Ok, so let's go with a diagram I put together while thinking about how to best answer a ton of questions related to the mechanics behind triggering a squeeze. This is not very formal--just conceptual to help you think about the relationship between price, liquid free float, and capital required to move things around. + +[Capital Flow to Price Volatility Leverage Conceptual Diagram](https://u.teknik.io/DDa8Y.PNG) + +As you can see in the diagram, I figured it would be conceptually clearest to model the relationship kind of like a seesaw. + +On the left you can see that people selling tends to increase liquid float, moving the fulcrum of our conceptual seesaw to the right, except in the case of selling to people who are planning to buy and hold, which moves the fulcrum to the left. + +The lower the liquid free float, or the further to the left the fulcrum goes, the greater the likely impact of any particular capital flow (net selling or buying) on share price. Importantly, as the diagrams on the right half show, it's not a linear relationship. The closer the liquid free float comes to 0%, the faster the price volatility increases... theoretically approaching infinity as liquid free float approaches 0%. + +I find it sometimes help to think of the extreme case to help clarify. On the extremely liquid side, if you have all of the tens of millions of GME shares in play, dropping $10,000 in to buy shares probably doesn't even register on the ticker. On the other extreme, if what if there was only 1 share in play? That same $10,000 instantly prices GME at $10,000 a share--if you can even get the person holding it to sell! + +Since company value is estimated mark-to-market, GME would instantly become rated one of the most (if not the most) valuable companies in the world. This is in no way true, of course, as you could not subsequently sell all the rest of the shares at that price, but as far as a whole bunch of market mechanics and market participants are concerned, they would have to treat it that way until another transaction took place to re-price the company. + +So, in the grand scheme of things, in terms of difficulty of initiating what magnitude of a squeeze, the primary factor is locking up actively traded/liquid free float. Also important to keep in mind, locking up the float is only very gradually noticeable until you get very close to locking it all down, and you reach a point where suddenly each fraction of free float being locked up has parabolically greater impact on price volatility, reaching its limit where going from 2 actively traded shares to 1 actively traded share doubles price volatility sensitivity to capital flow by just locking up a single additional share. + +So simple, right? Actually, yes. However, don't mistake simple for easy (absolutely not the same thing in this case). + +# Market Games + +So, GME and other high short interest stocks are looked at in two ways by many market participants. On the one hand, you have normal investors and traders who don't really pay attention to it at all, and, if they do, they see it as a tool for price discovery that is otherwise neutral and dampens volatility (people tend to short stocks as price goes up, and cover shorts as price drops, so normal shorting activity is at least in theory supposed to help keep price stable). + +Then you have what I'll call market gamers. These are people who are willing to look through the veil of what various mechanics in the market are theoretically intended to accomplish, and just pay attention to what they actually do. There are a number of market mechanics that get really strange in extreme circumstance, and shorting is one of them, as using it to the extreme can absolutely crush a company's share price and actually harm the company badly. The counter to that is the increasing risk of a squeeze, which gets worse with extreme price volatility. + +Imagine it this way. Short interest in a stock is like the stock comes with a very strange feature--a closed wormhole portal into the brokerage account of the short position holder that, if slammed with a high enough day or week end price, blows open and sucks their account capital through, and possibly their broker's capital too, until they've patched it closed again with shares of stock they were short. + +That's not how you're supposed to look at it, but that's kind of how it actually works in practice. Most wall street types would find it appalling and wrong to think about it that way, but with Millenials and younger jumping in to the market we're talking about generations of people who grew up watching things like people doing [4 minute speed runs](https://www.youtube.com/watch?v=hSYY4k52GEs) through games intended to take[\~100 hrs](https://howlongtobeat.com/game?id=21614) to complete, using nothing but the mechanics of the game in ways entirely unintended by the developers. That's kind of what GME is like, from a certain point of view--a speed run through the market, blitzing and confusing everyone watching--throwing a ton of money at hedge funds' short interest until you blow a hole in their account and suck the capital out with the force of a black hole. Of course people are getting jumpy. + +# Battleground - Strategy and Tactics + +In a way, GME has turned into a battleground stock in the minds of many wall street people. Wall Street vs WSB is basically the way it's been depicted in the media, and a number of them seem to be taking it personally. + +With a battleground stock I find it helpful to think of it like a literal battleground, but with territory marked out by stock price. It helps you consider the impact on each 'side', what their motives are, and tactical and strategic implications. The reason I think this way is that once a stock becomes a battleground, the issue is no longer about price discovery--it's about proving a point or accomplishing a specific goal, which changes the dynamics of the trade. + +In my opinion, the retail strength/defensive line is at the $148 level as mentioned in my previous post analyzing the week. This is based on the majority of volume being in the runup from $30 to $148, which triggered the first squeeze. + +My guess is short-side strength hardens at the $350 level, based on that being the level at which the whale plugged the first squeeze. What this means is that you can expect some short-side people to actively short more at that level, possibly following through on momentum, as many of them want to prove a point that GME is a <$20 stock, as stated by a number of them on CNBC. $350 might seem like a low number given Friday's close, but remember that Friday trading was subject to the uptick rule, so the short effectively could not push back, and was instead fighting a rearguard action to bleed the long-side advance as much as possible, and lure them off their strength as much as possible. + +Say what? Is there a point to those analogies like that? Why yes, of course, because those analogies are very good mental models for what is going to happen in a short squeeze campaign. + +Remember, in the grand scheme of things, the goal of the long side is first and foremost to lock up liquid float. That means buying and holding shares. The question is.. how much will it cost you to move the needle on that, so to speak. the higher the price the short side can force you to pay to lock up float, the longer it'll take and the more expensive it will be. It is also like fighting far from your supply lines in that respect, in that there will be weaker hands mixed in far beyond hard support levels, such that quick pushes by the short side will shake them out, loosening float back up. + +How about on the long side? You want the short side to overextend themselves by shorting the price down on momentum, and hopefully get them to keep building up short interest at the lowest price at which they will do so. This means having to have the patience to see the price go as low as you can tolerate before you start losing your key support to despair. Why? Because it means you're buying the shares they throw at you at a lower price (costs less to move the needle on locking up liquid free float) and also that their short position is at a lower average price, lowering the price it will take to trigger a squeeze. + +The above is why, in some cases, you will see a sharp dip before the vertical move in a squeeze. You can essentially lure the short side into an ambush by falling back to lower and lower price points, which allows you to continue to lock up free float at ever cheaper prices while the short side thinks it is winning. Once you think you've accumulated enough to prevent covering without a parabolic price move, you spike the price back the other way and it's effectively game over. It can take some time to play out to its conclusion, but that is the essence of it. + +Let's make it concrete and put some numbers to it. let's say you need to lock up 10mio more shares for the squeeze (no idea, just using the number for easy math). If you can buy it all skirmishing at the $200 line, you'll pay $2bn to do it. If instead you've extended to the $300 line, you're going to pay $3bn. If you're an alpha-seeking whale, why pay 50% more to accomplish the same thing if you can get away with it? If you recall, I referenced seeing what I thought looked like this type of ticker behavior in my 3rd post. + +That being said, you might not mess around with those types of tactics at this point if you think you're already close to blowing up the next short interest holder. + +If you think you're close, then you're looking at the most efficient way to make the last tick at trading close as high as possible. + +That is very similar to the price action we saw on Friday at the end of the day, as mentioned earlier. If you think about it, if the goal is the have the price at/above a certain point at the end of the day, what is more efficient? Rush in the morning, then have to pay that higher price level for the whole day to maintain it, or wait until later in the day, as late as you think you can manage, and then push to that point at the very last tick? + +That, at least, is a very high level view of what you're trying to accomplish, but it gets very complicated in the details. If you're dueling with a good HFT algorithm, you can run into things like the price getting spiked to trigger halts to run out the clock (kind of like fouling someone in basketball), which gets harder in the final minutes of trading due to the wider LU/LD allowances, but still doable, even if you have to do it by sucking price level up (maybe to give you 5 mins to call your buddy at Blackrock to dump shares onto the ticker or something like that). + +Another thing to keep in mind. One of the reasons these things can roll on for a long time, is it might not be a one and done blowout (possibly on purpose). Think about it--if you can get people to keep piling short interest in--particularly for emotional reasons, you can ring the register as many times as they are willing to keep doing it to ultimately prove their point. Think of the Citron guy who re-shorted back in around what.. $90 or $100 I think? All because he wanted to make his point when he got blown out at the move off of $30. There are people piling back in right now. Who knows how many times they're willing to reload the short float. + +Ok, so this post is much longer than I originally intended anyway, but I think the diagram and some of the descriptions above should provide a good amount of food for thought and discussion. A number of people asked me why I said that price to squeeze was secondary at this point. If you haven't already figured out why, try to think about it, or maybe ask in comments and someone can help with a further discussion. + +A couple of final points: + +* Assuming the long-side people continue to lock up liquid float, remember that volatility can get greater in BOTH directions. This can mean that you get wiped out if you're somehow still trading GME on margin, as a quick price collapse can get you margin called even if the price quickly rebounds later. +* Greater volatility means you should mentally prepare for big dips as well as swings to the upside. Pre-market and after hours trading don't have circuit breakers, so it could get wild during those times too. +* Also with extreme volatility you end up possibly hitting halts more frequently. After the first frustrating day of this happening with GME I made myself a basic thinkorswim thinkscript study so I'd have a handy reference on whether it looked like this was going to happen. For those of you on ToS, use it on the 1 minute chart. Note that the LULD tolerances are different in first few minutes and toward the end of the day, so you'd have to adjust the parameters (or just keep it in mind). I use it with the step lines vs the default line. If price crosses the guard lines then you're getting close--if it crosses the circuit breaker line then you're about to be or already are getting halted. Here is the code: + +&#8203; + + input TrailingPeriodLength = 5; + input CircuitBreakerPercent = 10.0; + input GuardMultiplePercent = 70.0; + + def trlAvg = Average(close, TrailingPeriodLength); + + plot trailingAverage = trlAvg; + + plot upperStop = trlAvg * (1 + CircuitBreakerPercent / 100); + plot lowerStop = trlAvg * (1 - CircuitBreakerPercent / 100); + + plot upperRail = trlAvg * (1 + CircuitBreakerPercent / 100 * GuardMultiplePercent / 100); + plot lowerRail = trlAvg * (1 - CircuitBreakerPercent / 100 * GuardMultiplePercent / 100); + +Also, I got a comment in another post telling me to get a job lol. Actually I have one, so I'm not sure how much I'll be able to post from Monday forward. As I've mentioned in a few comments on prior posts, I actually am not active on social media normally. I just created this account to try to help people use this probably once-in-a-lifetime event and the intense interest it's generating to help people learn to become better investors and traders. I'll try to keep posting, but maybe not as regularly, and probably shorter (which I know some of you will be happy about :)). + +Hope you all have a good rest of the weekend. Good luck in the Market on Monday +Lumber is up, Proctor and Gamble is about to raise prices on diapers, gas is going up, etc. + +Is this literally just because of Covid? If so, can someone provide more detail than just “it’s a pandemic” - aren’t most of these goods manufactured in China? It’s my understanding they’re past the pandemic (or so they say) so exporting goods shouldn’t have any effect no? + +Thanks everyone for your knowledge. +This isn't a bash thread, I've been seeing a lot of "just starting out", "where should I put my first $1000", etc and I'm genuinely curious why you're looking to start out in dividend stocks? Why not invest in growth stocks/ETFs that hold them and then when you hit your goal, sell and move into dividend stocks? Even reinvesting the dividend probably won't get you to your goal passive income stream as fast as just investing in ETFs/index funds and then moving into dividend stocks. Again, not hating on dividend stocks myself, I own 10k in QYLD/O/T in my Roth with them reinvesting (once they get back in the green I'm probably going to move them into VOO/VTI), but my question is why is your portfolio starting out in dividend stocks? +For instance, where I live rent is expensive and housing supply is limited. If EVERYONE here had an extra $1000 a month, they could afford to pay more. So wouldn’t the market price of rent pretty quickly adjust to the new normal? + +And wouldn’t the same principle apply to many things in the economy? +**TL;DR** : Why didn't the government give the bailout money directly to homeowners to remedy the failing mortgages? Banks still get their money and people get to keep their homes + +My extremely basic understanding is that the market crashed because banks were giving out subprime mortgages that were bound to default, ranking them improperly, and then going mad creating derivatives based on these mortgages. + +When what was happening became evident as homeowners started inevitably defaulting on their loans, and foreclosing on their underwater homes the securities and then the entire global market that depended on them tanked because banks had ridiculous debt to capital ratios, and this loss in liquid money made it impossible for banks to continue to operate. + +These banks were too big to fail, so the idea was huge sums of cash injected straight into the banks. Nobody really liked this solution as it seemed to justify the risky behavior of the banks, but it seems it had to be done as there was no other alternative. + +Or was there? + +If the banks were failing because their mortgages were crap, people couldn't pay, and the properties were underwater, why not give the money directly to the homeowners to remedy the crap mortgages? The banks still get the same amount of money from the government, and homeowners get to keep their homes. + + +Things I understand may be complicating factors: + +* the banks would end up with less total liquid cash because they do not get the cash value of the homes foreclosed. (But they would in theory have more money over time as homeowners continue to pay mortgages) +* I am uncertain how this affects the derivatives based on the mortgages, but surely it is better than letting them become completely worthless due to foreclosures, no? + +Why couldn't the Obama administration do this? + + +This was inspired by the Jon Stewart interview with Joe Rogan. He mentioned that he asked this question to an Obama finance person at the time, and their response was that it would create a "moral hazard" for homeowners that they would be bailed out if they couldn't pay. The cognitive dissonance in this statement is risible. What about the moral hazard for giant banks? + +Edit: + +>"There is no way, in my opinion, that Washington is going to bail out an investment bank. Nor should they,” + +-Jamie Dimon in September 2008 +Is Tucker right about the economy? "inflation will get much worse, only way out of inflation in all history is recession" + +my question is why is recession the only way out of inflation? What does happen in recession time that calm down inflation? +New Jersey fined Uber $649 Million for Saying Drivers Aren’t Employees. New Jersey has demanded that Uber pay $649 million for years of unpaid employment taxes for its drivers, arguing that the ride-hailing company has misclassified the workers as independent contractors and not as employees. + +A audit uncovered $530 million in back taxes that had not been paid for unemployment and disability insurance from 2014 to 2018. Because of the nonpayment, the state is seeking another $119 million in interest. + +&#x200B; + +[https://www.nytimes.com/2019/11/14/nyregion/uber-new-jersey-drivers.html](https://www.nytimes.com/2019/11/14/nyregion/uber-new-jersey-drivers.html) +It’s quite simple really. They’ve never seen this level of retardation. I’m 100% DRS’d; every single share I own is in Computershare. I LITERALLY don’t even know how to sell, or what my password is. I couldn’t sell if someone had a gun pointed at my head, because I don’t know how. There is simply no way to compete with this level of stupidity. All of their algorithms, psychological tricks, and fear don’t work on idiots of this magnitude. + +I just don’t fucking care. These assholes won’t see me sell a single share until we’re talking phone numbers buddy. Until then, I’m not interested in logging in and trying to figure out how to sell, there’s no need for me to. + +Until then, I’ll continue to go to the job I hate, make money, pay off debt, and buy more when I can. I’m not selling my one chance at financial freedom. I trust the ChairMan who’s going to HODL. 🦍🦍 + +EDIT: I’m not suicidal. Some shills have reported me as suicidal though LOL. How odd. +https://news.gamestop.com/news-releases/news-release-details/gamestop-announces-voluntary-early-redemption-senior-notes-0 + +*wink-wink, nudge-nudge: one time dividend paid in crypto* + + +*edit: [The MOASS Preparation Guide](https://www.reddit.com/r/Superstonk/comments/mm5qle/the_moass_preparation_guide/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) trust me, go read it.* +Just looking for a different perspective. Full disclosure: I am a black person. It’s been a bit lonely. I have often been the “token” in my peer groups, at work, and in school. I’ve been in my line of work for 10 years (we serve law firms) and have only done deals with 1 black client. Just wondering. + +Edit: Someone has asked for my story and I figure it’s only fair that I also share. + +I’m 33. $1.2M net worth. + +I own a small portfolio of real estate (about $2.5M worth) and have worked mostly internet marketing over the last 10 years. I’m currently working on starting a business. COVID-19 as well as some office politics has forced me to start thinking about my next move. We have about $200k in stocks and I’m sitting on about $150k in cash. I have a goal to hit somewhere between $5M and $10M net worth by the time I’m 50. + +I grew up in a small town. In a way, I believe that I am lucky. I had an innate desire to learn and I thoroughly enjoyed it. As a result, I did very well in school. My nerdy ways kept me out of trouble and, with time, teachers took a liking to me. + +Because we were poor, I spent most of my nights going to work with my mother. She drove a school bus during the day and was a janitor night. I helped her clean at night until my freshman year of college. Some nights were tough; we’d get home at 2 in the morning and I’d still have to be ready for school in the morning. I’m thankful that she had always put school first because she knew it was my ticket out. This experience did teach me the value of hard work and the experience of working toward a dream. She always wanted to buy a house some day (and she eventually did). + +When I graduated, I was awarded the Gates Millennium Scholarship (full ride to any university in the country). I will say that this was my greatest financial advantage. I came out of college without any debt and I joined a small startup right out of school. It didn’t IPO or anything, but I was able to watch, learn, and get a bit closer to the money. + +While growing up, I read any books I possibly could about money and tried my hardest to execute. I got to a place where I was making six-figures at a pretty young age which made me comfortable enough to try my hand at real estate. If I lost money, it wouldn’t put me out on the street.I didn’t have mentors, I didn’t know anyone else that did it, I just trusted the math. + + + +Regarding unique challenges specific to being black: + +1) The feeling that in order to reach the same level as many of my colleagues, I have to hold myself at a much higher standard. (I.e. it’s difficult for me to feel relaxed, mainly because I am the only black guy). My work is performance based and while on business trips I have colleagues that will get shit-faced drunk and do embarrassing shit as a result. I don’t think I can do that. The consequences for me are much greater in my opinion. + +2) The feeling that many of my colleagues have greater financial support from family than I do. I gotten recommendations for expensive items, only to find out that it was a gift from a family member. I have colleagues who’s parents have helped them with down payments for homes, paid for vacations, paid for weddings. I’ve had to cover all of those expenses myself. We once asked my mother-in-law to buy a mattress (in her own house) for my wife and eye and she was so mad, she didn’t talk to us for the rest of the weekend. + +3) The constant fear of irrational judgement from non-black people who don’t know me. I live in a nice neighborhood. We are one of three black families in the entire neighborhood. This is embarrassing to admit, but I spent $15k on landscaping because I knew that I was the only black person that lived on a corner lot, off of the Main Street. Therefore, people would see me, and potentially judge my yard it wasn’t pristine. + +4) The fact that I will have to take care of my parents in old age. They don’t have enough money to retire and it’s too late for them to do anything about it. Many of my colleagues won’t have to think about this or have concerns about it. + +5) Because I’m the only black person in my entire company and have been for over 10 years, the surprising lack of awareness or understanding. Having said that, I understand that businesses owners and coworkers don’t have to care. It’s about getting the work done and making money. But the flip side to that is how this plays out during happy hours and the stories that are shared about past experiences. + +6) The lack of exposure to the inner workings of how things work, mainly because you come from of lower social economic status. Mistakes are made, sometimes embarrassing ones that may also have social consequences. + +I will add this, I like thinking about money because I feel that it can be an equalizer in many ways. It won’t solve all the problems but it will help my family sit on a more even playing field. + +Edit:I want to thank everyone who has contributed to the conversation. It has really been eye-opening. The response has been greater than I ever imagined. Please keep the comments coming. + +To respond to a point that seems to be recurring, I do recognize that a number of these issues are not race specific and have a bit more to do with socioeconomic status. However, I would add that they are a significant enough part of the black experience that they cannot be ignored. While I will admit, that I may have a bias of viewing these issues through the lens of my own race, it certainly (in my opinion) should be part of the conversation. I largely raised these points because I had a feeling that they would resonate with other black people in this sub and it would help to spur conversation. +My grandmother passed away in March of 2019. Her kids, who had been fighting over who would get everything were shocked when they found out she had made a will. Turns out she knew exactly what was going to happen and left everything to me. Needless to say they dont speak to me anymore. + +Fast forward to today. I'm selling the house and land so that I can pull my family out of debt and buy our own home. After all that, I will still have a chunk of money. What should I do with it? I wanna use this money the right way so that set my family on the path to success but I must admit I'm clueless. + +I've lived paycheck to paycheck so long that I've never even thought about investments or what to do with spare money because ive never had any. Any advice would be appreciated. Thank you. +While browsing on my phone last night, I came across [this ad](https://imgur.com/a/d4ISK) recommending holding real gold and silver in a self directed IRA account. Please do not follow this advice. It's horrible and Reddit should be ashamed of selling this type of advertising to their users. + +Edit: I want to thank the r/personalfinance moderator /u/dequeued and Reddit admin u/liltrixxy for their quick attention and response in [resolving this.](https://www.reddit.com/r/personalfinance/comments/62141f/reddit_is_advertising_really_bad_ira_advice/dfj7i8k/) + +Edit 2: I know I spelled ads wrong in the title. I, like most people, fall for common [homonyms](https://www.youtube.com/watch?v=WZLkcFns8Ks) when typing fast and posting without proofing. + +Edit 3: Thank you reddit for correcting my grammar because it does matter. + +Edit 4: I do use an ad blocker but this is on the reddit app on my phone. + +Edit 5: [See this thread for why it's a bad idea to hold physical gold and/or silver in a self directed IRA.](https://www.reddit.com/r/personalfinance/comments/62141f/reddit_is_advertising_really_bad_ira_advice/dfiwa9g/) tl;dr: Placing a physical commodity inside a tax advantaged account is pointless because it doesn't produce earnings, it sits. Self directed IRAs open you up to fraud. Fees you have to pay a special custodian. Cost of storage. When RMD hits, your stash of gold will be valued and your RMDs will be based off that valuation and physical gold will start being sold off to meet the RMD regardless of what they can sell for and with disregard to future valuation. Lack of diversification. High volatility, etc. [See u/SIave's comment about the difference in earning between physical gold and the stock market](https://www.reddit.com/r/personalfinance/comments/62141f/reddit_is_advertising_really_bad_ira_advice/dfiytwk/) and [/u/benny_kurrell's comment](https://www.reddit.com/r/personalfinance/comments/62141f/reddit_is_advertising_really_bad_ira_advice/dfjh0dz/?context=3). +Like what is wrong with some of these people?? The vast majority of people who use this sub is specifically because they are POOR/STRUGGLING. We post here for advice, tips, and support. We don’t post here so we can get X amount of comments from judgmental assholes who say over and over, “Just get a job” “sounds like you’re the problem” “get over it” “this is your fault” “work harder” “How is this possible for you to be poor??” ”Just move, I don’t see the issue.” + + +Let me tell you something, because I think I speak for most of us. I work beyond full time. I work side jobs in my free time, including on my lunch breaks everyday. My circumstances are *none* of your business, but my circumstances are still valid. Everyone’s are, especially if they’re making an effort to escape them. I was born into a very lower class family, my parents were from poor families. Most of us born into this are already off on the wrong foot. Poverty is a vicious cycle most of us are all fighting like hell to break and get out of. It takes time. It takes effort, which again, the vast majority of us are giving that full effort. We are **trying**, we really are, but living in/coming out of poverty is fucking *hard.* Not to mention that our society does not make escaping poverty easy. It costs money to move. It costs money to learn a trade, go to school, go to the doctor, get mental health help. While of course, it’s not impossible (we know this), so many people act like escaping poverty is a quick fix. This is untrue. + +To add to that, there are different tiers to poverty. Some people are born into it, others fall on incredibly hard times, some people get fucked over by their families or loved ones (eg: taking loans out in our names, ruining credit, stealing our money, etc etc), some people are disabled, some people just make mistakes, learn from them, and are trying to pick up the pieces. And the sad fact is ~~some~~ many people, despite working hard which so many of you claim we don’t do, are only one or two paychecks away from poverty, just barely staying afloat, and doing all they can. It. Happens. Maybe not to you - and congratulations to you all - but it happens to people every single day. We are living it. It’s literally all around you. + +We are still human. I’ll repeat that: **we are still human.** + +Some days, we just really need to vent. That’s all. It doesn’t mean we aren’t trying. But working hard, trying to be strong, dealing with the stress, it all gets to you. That’s part of the whole “being human” thing. It’s a heavy weight to carry. That’s what, in my opinion, this sub is for. Being able to relate and hear others out, and offer advice, it’s what helps people continue to push through when they feel like giving up, and makes the weight a liiiiiittle less heavy. + +You don’t get to call someone lazy, make general shitty judgments and overall rude assuming comments about how they got where they are nor why they’re where they are now, when the *only* thing you know about their lives is exactly what is posted here. + +So if you’re the type of person to judge and criticize those on this sub who seek out advice or just want to vent, maybe step away from the screens and take a good hard look at yourself. Reflect on your poor character and be better. Having some perspective will make life a little less miserable for you, and maybe you’ll gain a little empathy. We may be struggling, but at least we treat others with respect. Because for a lot of us, who we are and our determination to live better lives despite any circumstances and the holier-than-thou ignorant bullshit around us is almost all we have. The last thing we need is to be kicked while we’re down. + +We won’t stand for it. I know I won’t. Not anymore. + +Edit: and to those who have dealt with this and/or are just struggling right now, I hear you. I see you. You are more than your circumstance, and you’ll get through this. Keep fighting the good fight and vent when you need to. Better days are coming! + +And of course you will always have people who victimize, or just won’t help themselves or don’t take accountability (it still doesn’t justify insulting and degrading them, but I know there are people who need to recognize certain issues when they’re in their own way). But just speaking generally, being in a bad financial position doesn’t mean you aren’t trying. Everyone is different, what works for some doesn’t work for others. Just...be freaking nice to people? Offer constructive advice? Or just don’t say anything at all if it’s nothing good or necessary. +I invested in bitcoin and ethereum via Coinbase early this year, and it’s been falling ever since I bought it. Do I sell, or hold? What’s going on with crypto? +What I'm reading is that we need to bail out companies in order to maintain jobs. Wouldn't it be far more efficient just to pay a UBI-type thing? (Note: I'm not advocating UBI *per se*, rather as a stop-gap in the current crisis.) + +Arguments/my reasoning: + +* If businesses are failing because no one is using them (e.g. air travel), then they are going to continue to need bailouts. Thinking bailouts are a one-time thing vs. ongoing UBI-type payments is unrealistic. + +* We've already seen companies using the cash to buy back stock. OK, we can put in legislation to stop that, but paying people would be far more efficient. + +* Giving working people money maintains money flow - working people buy necessities, rather than investments. + +* Medium/long-term, we would realise either a) we don't need this/that industry or b) this industry needs to be more efficient. It would provide a huge opportunity for innovation and entrepreneurship as people try to fill the vacuum left by collapsed companies. + +I am a complete econ-novice and my reasoning is probably super-naive, so I'm def here to learn! +41yo single male - just hit $3.2M in net worth today. + +Honestly, none of it was by design - kind of fell into it. A lot of it came from tech - and I was only able to benefit because I very randomly became connected to a group of people who pulled me along with them. + +I'm pretty good at my job, but I try not to kid myself that that's the only driver. I've gotten where I have through luck and the kindness of others. I do my best to try and pay that forward. + +Looking back on it all, the key is to be a good egg. It's important to be smart and good at your job -- it's just as important to be kind. That's what allows you to build relationships that create opportunities. + +It's all just very, very humbling.... still trying to process.... + +&#x200B; + +\---------------------------------------------------------------------------------------------------------------------------------------------------- + +**Age 29 (moved to US to do an MBA at Wharton):** + +* I moved to the US about 11 years ago - at the height of the financial crisis - to attend business school (MBA at Wharton). +* Could not afford it by myself - my starting salary in a 3rd World country was $7K/year, although I'd built it up to $40K/year over an 8-year period. +* Wharton gave me a 40% scholarship and then I basically cashed in all my savings ($50K) and took a loan in order to afford it. +* Was fortunate enough to get a job offer that sponsored my H-1B (work visa). + +&#x200B; + +**Age 31 (graduated Wharton, joined McKinsey): -$80K net worth due to school debt.** + +* Was able to land a job at McKinsey & Company -- starting salary of $120K +* Based out of Atlanta -- unlike my colleagues in NYC or SF, able to save 50% of my after-tax salary with low rent etc. When on projects, we expensed meals and stuff - so never spent the bulk of my salary beyond loan repayments. +* Maxed out retirement contributions to a proprietary McKinsey fund, although I mostly just invested in US equities using index funds +* Didn't really invest in shares beyond S&P 500 index funds because of McKinsey restrictions on trading shares (it was possible, but just complicated) + +&#x200B; + +**Age 35 (left McKinsey, went to an SF non-profit):** **$400K net worth** + +* Net worth mostly from the retirement funds, the balance was in selected shares (US equities) +* Eventually received my green card sponsored by McKinsey - and was like "Adios!" +* Decided to do more non-profit work and joined tech non-profit in the SF Bay Area. Took a 33% paycut as well as the increase in cost of living -- my rent basically doubled from $1.6K/month in Atlanta to $3.2K/month in SF). Did not regret it. +* Decided I wanted to eventually buy an apartment in SF and spent two years saving - also made the decision to not invest in my 401(k) at the non-profit (and forego the match) - in order to save about $200K for a downpayment. + +&#x200B; + +**Age 37 (left non-profit, bought an apartment, moved to for-profit tech):** **$500K in net worth** + +* Bought a small apartment in SF - extremely cash poor. Decided to take my time furnishing it -- took about 3 years because I didn't want to take on any debt. Had to borrow a little bit from family to finish buying the apartment - paid them back in two years. Mortgage was about $550K. +* Left non-profit for a tech for-profit company. Was recruited by a friend from the original non-profit at a Director level. Salary went up to $180K with about $40-50K in RSUs. +* I'd spend about $5K/month on living expenses (mortgage, HOA, food, etc.) - and save the rest (after paying back family for down payment help). I'd save about $2-3K /month - and invested heavily in cloud computing stocks. (Reference the Bessemer Venture Partners index for info there.) +* Also re-started investing in my 401(k) with matching, took advantage of ESOS and other schemes. + +&#x200B; + +**Age 38 (acquisition by another tech company): $800K in net worth** + +* Our company got acquired in an all-stock deal -- the acquiring company's shares became like a rocket ship and jumped up 3-4x +* Salary was $220K, so was saving as much as I could (apart from some family support that I'd send back home -- as my dad was getting older) -- but most of the increase in net worth came from equity (about an additional $400K/year in RSUs) +* Apartment also added about $100K in value over price appreciation +* Personal expenses hadn't really changed - apart from food and the occasional travel, it was a pretty simple life. I like to read and since public libraries have online book collections.... my Amazon expenses have gone way down... +* Gave sister $50K for a downpayment for an apartment. I sold some equity to do it - swallowed the tax bill. + +&#x200B; + +**Age 40 (poached to 3rd tech company): $1.2M in net worth** + +* Some friends at the original tech company that got acquired became the C-suite at another company... their mandate was to take the company public +* They poached me - and offered comp of $275K and equity but obviously no guarantees that it would amount to anything +* It was a leap of faith - I was turning down this known rocket ship at the 2nd tech company where I was highly valued and that I know would have delivered about $2-3M in equity over 3 years. But I trusted my friends and decided to join them. +* Personal expenses hadn't really changed +* Because COVID had hit - I gave my brother $50K in family support, but otherwise saving the rest of my salary. + +&#x200B; + +**Age 41 (IPO): $3.2M in net worth** + +* About 1 year later, we actually did IPO! Ton of work to get it IPO ready, and very proud of our team. +* Ironically enough, we IPO'd before I hit my 1-year cliff - just hit it 2 days ago and had $2M in equity (mix of ISOs and double-triggered RSUs) transfer to my account. +* No real change to expenses - and because of tax and insider trading implications I can't liquidate it just yet. + +&#x200B; + +**What happens next?** + +* I still have 3 more years to go with the company - if I hold on then that's another $2M/year in equity (lots of assumptions are embedded into that) +* Eventually, I'll have to decide when to get off the hedonic hamster wheel. Depending on share price - will happen over the next 1-3 years. I don't exactly have a retirement number but somewhere between $5M - 10M? +* It's a little surreal, but I've had to appoint wealth advisors and accountants (no more TurboTax!) to manage my investment portfolio and taxes. +* I'm conscious of avoiding lifestyle creep - I'll probably sell my apartment and buy a single-family home in SF (allocating $1.5M-2.5M for it) - but apart from that will have a very simple life. Focus will be on health and wellness, spending time with my loved ones, maybe settling down with a partner, and going back to more mission-driven work. +I am about the pull the ripcord on my career on Monday--I am about 50. + +After the 1-year notice period, assuming no other arrangements are made that alter the timeline, I will go from making about $2.5M+ per year to living off of my accumulated investments which, obviously, generate far less per year. But, they are enough. + +I phrase the question above because I think the concept of **time** relative to wealth is sadly missing in most of the threads on FatFIRE. I think part of being FatFIRE is actually enjoying wealth when you're young enough to do so (that's the RE in FIRE) and not merely accumulating as much as possible and dying at your desk. + +This message is for those who are on their way up, in aggressive accumulation mode. Give this concept some thought, and feel free to tell me that I am wrong. But think about it. + +EDIT: To those doing the math trying to figure out which choice is mathematically superior, you’re missing the point (the answer is $10 million, BTW). Instead, make the second choice $500 million rather than $50 million, or $1 billion even; but the nub of the issue is whether—once you’re clearly FAT—it makes sense to trade time/youth for even more money assuming you’d like to do something else with your life than make money/work. + +If working and accumulating more is really your jam—and you’re not just doing it because you’re scared, unsure of yourself, lost, etc—then fine. But, if you think there may be more to life than your career, perhaps this is worth some thought. + +Walking away from $2.5M+ per year isn’t easy and I’ve lost count of all the messages I’m getting asking me what I do to make that money. Those people understandably envy that kind of earning potential, but the answer really won’t help them and it distracts from what I’m saying. +They say if you ask a poor person for money advice is poor and with rich it's rich. So I have been asking advice of people who have become financially independent, at least money isn't a stressing factor in their lives. + +Oh my god. "Save 20% of income and invest it." I explain money is tight and hardly any left to buy a single stock. "Oh then ask for a raise or job hop." OK, my review is 6 months away, and in the Mean time what else? "A side Hustle! Whatever you make there invest it!" Tried and got burned out, actually made me work less from exhaustion. + +So I asked "what did YOU do?" And the story is what you expext; my parents paid for college, I got into tech, my dad knew someone in the company, etc. + +They are giving me advice they didn't follow through with. They could have just said "I don't have any experience with that, I grew up in privilege." +Wallstreetbets sub exists for a reason... this place is literally titled ASX Bets, yet we have this influx of noobs already trying to karma farm with worse versions of the memes that already exist on WSB anyway. + +Petition to get a USA trading megathread that all dumb fuck "how 2 buy GME pls?" shit goes in? Dunno about others but I come here to see people talk about how to lose money on Aussie pennies... +Hey guys! last year I made a spreadsheet to help myself budget- I'm terrible at sticking to a budget so I made a sheet that breaks it down so that I just have the ability to break it down to a daily manageable amount. + +[Heres what it looks like](https://imgur.com/a/ojaju7a) + +I grew up very poor and had NO sense of what or even HOW to start budgeting. I was taught that money would disappear if I didn't use it, so I just USED it. Even now I still feel anxiety about money and can spend recklessly if I'm not careful. Another problem I faced is that I have ADHD, so impulse control can be hard, and it can also be hard to keep track of every purchase and focus on a bunch of aspects of a budget. This spreadsheet is made so you only focus on ONE number. + +&#x200B; + +The sheet was set up with three goals in mind: + +&#x200B; + +1. that it be easy to use +2. that it focuses on a daily budget that supports long term goals- instead of a long term budget that doesn't have daily support +3. that it be a good starting place for people who have never saved before + +&#x200B; + +So how does it work? + +The main budget is divided into three core areas: + +&#x200B; + +* Income: You use this to fill in your income and choose to have a monthly, weekly, or bi-weekly pay cycle. If you are a worker who is tipped it includes an area where you can add tips, my suggestion is put in your minimum average income from tips- So for example, if you usually make 100 from tips a week, even if you get extra, try to program your budget around the 100 minimum average. +* Expenses: There you can add your expenses. Utilities are bills that are for electricity, heat, phone, internet, or water. Bills are important expenses that you can't miss and are integral to living. Finally, expenses are other things you need to allocate money for- whether it be gas, lunch expenses, transportation- ect. Within your expenses there are TWO areas to which you need to pay attention:-Credit Card Payments: this is new to this year's sheet, use the tab below to fill out your information for up to three credit cards. Decide whether to pay the minimum payment OR choose an amount to pay. The tab will allow you to see how much you're paying and how much interest you're accruing. Once you have filled it out, your budget will adjust accordingly.-Big Purchase: Use this tab to create a budget for a large purchase, and adjust your budget easily and automatically to finance this purchase! +* Budget summary: Finally the most important part of this sheet is the budget summary- Here you will see just how much you can spend. This money is shown in three ways, the lump monthly sum, a weekly amount, or a daily amount. As long as you don't go over that number, you will have enough money for the rest of your budget. It will also feature a breakdown of what your budget it, where your money is going, and what your income VS spending is! + +&#x200B; + +[~~Here is a link to the sheet~~](https://docs.google.com/spreadsheets/d/1YCjtrGVKUM7siXilSaqnlHXwemH-QGBEULZBm5bEDMg/copy) + +&#x200B; + +ou use it like this + +* Go in +* Make a copy +* Change the numbers +* Decide what percentage of your income you want to be saved +* Budget. + +The sheet includes three charts: + +* A bar graph as a simple visual tool to see if you are spending more than you are saving +* A pie chart to see where your money is distributed +* A daily Pie chart to see realistically where your money is going compared to your target savings + +I don't work well with a lot of budgets because I have issues imagining the big picture. By giving myself a daily/weekly/monthly budget I can make sure that on any given day I haven't spent more than I'm allowed to- and if I do i can see where I'm borrowing from or where that money is supposed to come from. + +&#x200B; + +^(NOTE: All Images in the spreadsheet are from vecteezy) + +EDIT: + +# [NEW COPY LINK](https://docs.google.com/spreadsheets/d/1Jm0-n4TP98Vb5FkYKAZIqYOxO1rE9DJV7dWo_zFO31E/copy) +Unemployment rate 3.6%, 2 openings for every unemployed person, etc. Basically there are millions who don't have a job **and** are not looking for a job. + +Anecdotally I see how bad it is as I am sure everyone else does too. My local restaurants have poor services and close early due to staffing issues. Airlines are cancelling flights. Companies have drastically lowered their standards for hiring. I can go on... + +I am still scratching my head why we still have this issue long after government handouts ended. + +I know many have retired and most of them will probably never return to the workforce. But I suspect they make up a relatively small portion of the supply shortage of workers. I have questions about the rest. Are they living on sustenance level somewhere and gave up on the rat's race? Where are the able-bodied workers who for whatever reason are not working and why are they not working? Why is my local McDonalds still so understaffed? +Tomorrow, I am spending a significant amount of time with a federal prosecutor who specializes in white collar crime, specifically money laundering. + +What is our best example of something we have actual evidence of and we are not extrapolating? + +He was taking me seriously when I mentioned I wanted to chat with him about it and he said “give me your best and let’s see what we can do”. + +So let’s go Apes. What’s the best example I can give over the course of a couple beers? + +Edit: appreciate the visibility y’all are giving this. Sorry if I stop responding - I’m getting tired (I’ll have some more time in the AM to read) and I’m going to spend the rest of tonight rereading FTD posts, everything short and cost basis posts. + +Keep the ideas coming! + +Edit 2: whoa. Just woke up. Getting to work now, apes! + +Edit 3: we got a little busy but we chatted a bit. I told him about the response I got here and he wants to see it. We are grabbing breakfast tomorrow. Promise I’ll report back. Thanks for all the help, apes! +From a historical perspective is capitalism “real”? + +In an economics course I took a few years ago, one of the things talked about was that many economists, and some economic historians, have largely ditched terms like “socialism”, “communism”, “capitalism”, etc because they are seen as imprecise. What was also discussed was that the idea of distinct modes of production are now largely seen as incorrect. Economies are mixed, and they always have been. + +I know about medievalists largely abandoning the term “feudalism”, for example. So from a historical & economic perspective, does what we consider to be “capitalism” actually exist, or is that the economy has simply grown more complex? Or does it only make sense in a Marxian context? + +I’m not an economic historian by training so I’m really rather curious about this +My grandparents (80 and 85, Georgia) get phonecalls from "the Department of Treasury" letting them know they have won $xxx, xxx and all they need to do is send $1000 to some person for "taxes" and then they will receive the money. + +To my knowledge, they have sent $30k in total. + +The situation at hand: my grandma got a letter saying she won $4.5 Million from "Mega Million" and she has to put up $150k (the lottery fund is putting up $250k "on her behalf") and then she will get 4.5M. She also is told she will receive a 2017 Mercedes. She is awaiting a loan for the 150k to come through. + +She is keeping this as secret as possible from her two children (50s). I do not know what to do. My grandparents are okay financially, but this loan would be an extreme hardship. + +Things we have tried (as a family): +- blocking phone numbers on their phones +- calling the scammers ourselves +- showing them Google searches that indicate the phone numbers belong to scammers +- having friends in the police come to their house and read the letters and give their opinion + +Clearly nothing is working. Any advice would be great, thank you. +I see a lot of people asking about how to diversify or set up their portfolio. + +For them, i just want to assemble some insights to make a better decision. + +The Baseline ETF to cover the whole market are World etfs, the most referenced of them is MSCI World. It is following an index of the whole market that its trying to mirror. + +Now, when you try to diversify your portfolio by choosing other etfs or stocks that you think will perform better because you read sth about it, then you become an active investor and often even go for sector bets like green energy without knowing. All those new etfs are barely 3 years old. + +There are a lot of professional fund managers that do exactly this, they try to predict etfs and stocks that they think will perform better than (msci)world after some years. Usually their scope is 5 years. + +The interesting fact ist that 90% of those acive fund managers perform significantly worse than vs just investing the same amount in msci world. [https://www.marketwatch.com/story/why-way-fewer-actively-managed-funds-beat-the-sp-than-we-thought-2017-04-24](https://www.marketwatch.com/story/why-way-fewer-actively-managed-funds-beat-the-sp-than-we-thought-2017-04-24) + +Then there are all of those robo-advisors that claim to balance your portfolio with AI so you get the best without researching yourself. Guess what, 90% performed significantly worse than just msci world, especially during a crisis like corona.[https://homemade-finance.de/robo-advisor/](https://homemade-finance.de/robo-advisor/) + +Since these people do nothing else but scan the market every day to make pick better performing etfs and shares, introduce AIs, and still fail should be something to keep in mind. I personally stopped trying to assemble some complicated portfolio to reduce the US overweight or get in Emerging markets or bet on clean enegery. + +I just split 40% to Bank and 60% in one world etf of my choice. I know it sounds boring but in the long run staying passive and simple can pay off. +I have spent the majority of my life severely depressed, and I'd say I've let this illness ruin my life. That's not the point of this post though; I am somehow now in a ok job for a few years and am for the first time trying to take care of my self. + +Some info: + +\- Earning 42k a year in Germany, around 30k after tax. It is extremely unlikely I will ever earn much more than this. I have never earnt this much. + +\- I have no savings, no emergency fund. I recently moved which drained the majority of my cash so I'm extra low now, but in general nothing. + +\- No investments/private pensions + +\- Around 11k Student debt at around 150eur a month. 2k credit card debt. + +\- No children, very unlikely I ever will. I have a cat that costs me around 200 euros a month all inclusive that I'd like to keep as my companion. + +\- No investing/financial literarcy beyond using basic budgeting software. + +\- No driving license. I'd like to get this and this will be a significant expense for me in the next few years. + +\- Around 5k (if lucky) in music + photo assets I've collected up over the last 15 years. + +My first step is to get together around 6months cash emergency, then plan to put whatever hundred euros a month I can into some ETF funds. My question is: is it even worth me trying to invest/build a portfolio? I don't expect to ever have any real estate, real money, or retire really. I can expect no inheritance/family help. When trying to make a plan I get so intimidated by my peers with several thousand in savings and investments, and feel it's too late. + +I'd appreciate some advice from anyone a bit more literate to me, whether it's worth spending the rest of my working life with almost no entertainment/life budget desperately trying to catch up. I already know I've ruined my life, am a failure, should have done everything differently, so I'd ask those keen to remind me of this to refrain. + +Many thanks for any direction/advice offered. +To all economists out there, I'm starting to learn more about economics but there are some lessons that I struggle with because of lack of examples and sometimes I'm having a hard time understanding it. Hoping you guys would share some simple examples about my question. Thanks a lot +I own 20 units with 45 tenants across 7 buildings. Over the past 3 years, I have observed more and more of them turn to heroin and it sucks. They all moved in with jobs, sobriety, and no pets. + +Whether it's a curled and burned spoon I find tucked away in the basement, or a p-trap jammed full of used broken syringes under a kitchen sink. Or the stink of a couch I drag to the dump after the HAZMAT team does their best to scrape the rotting flesh of my previous tenant's corpse off it. + +The pet-free apartments that they sneak pets into a year after moving in, and I only find out because I can smell the urine in the hallway after they stop changing the litter. The filth that comes with addiction. Destroying lives and houses one tenants at a time. + +I'm in a town of 20k people in the midwest. I've known some of these people for almost a decade. They were productive members of a society that was once productive, and I'm the last thing between them and homelessness. I've already had to send a few to the streets to keep their neighbors safe. + +Just a vent but this sucks. Drugs suck. Needles scare me, but I've been collecting them like stamps. + +Being a landlord is glamorous. +Back again for another rant... + +I feel like I can't go one day without thinking about being poor. I am constantly planning and budgeting and thinking of ways to make money. + +When I'm not working I'm calling places to attempt to get extensions on my bills. I'm doing surveys and scanning receipts several times a week for pocket change. + +I'm just tired. Physically and mentally, I'm tired. I couldn't imagine what a small hand-up could do for me. Like if I could just get ahead for a little bit I would be fine... + +I'm sure others feel the same. +4 months ago I received a promotion to manager level with a couple of people reporting to me. I was given a 10% raise and told that I won't be eligible for the end of year remuneration review. I wasn't overly excited by this.considering my experience, skill and new responsibilities. + +Last week I had a chat to my boss and their boss. I respectfully told them I feel underpaid and underappreciated and gave my case as to why I deserve more (without giving a figure). I also told them that there are a lot of opportunities out there for someone with my skill set. + +Long story short I received another 25% on top of the 10% because they couldn't afford to lose me. This is life changing money for me and my family and I'm so glad I put myself out there to have a chat that can often be very uncomfortable. For me a 20 minute conversation has resulted in a huge positive change in my life! + +I think its important for people who feel underpaid and underappreciated to have a chat to their bosses. It might result in something, in my result in nothing but its always worth giving it a try. + +I don't know if this will inspire anyone else to have that chat but I really hope so. I'd love to hear from anyone who will give it a try, including the outcome. Ive got my fingers crossed for you🤞 +Because I know most people in here aren't seeing the big picture with Ethereum on a protocol level let's go over a few (very) important things coming in the near future. + +Metropolis (Ethereum 3.0) - This upgrade is slated for Aug/Sept and will be the first upgrade since Homestead (Ethereum 2.0) from early last year and for reference Frontier (Ethereum 1.0). Metropolis will bring with it some huge upgrades. + +Raiden - Currently Ethereum can process a max of 15 transactions per second, Bitcoin can do about 7. This is nowhere near what Visa does at 40k/tx per second. You've heard of Bitcoins lightening network which will enable Bitcoin to do infinite tx/sec? Well Raiden enables the exact same thing on Ethereum by creating what are called "Payment Channels". Not gonna go into too much detail but it's like Bob and Carol agree to put a $100 deposit into an account and write notes saying one or the other owes $x amount, then on a predetermined day one of you squares up the account by making one large transaction on the Ethereum blockchain. + +ZN-Snarks - You know how your friends tell you Ethereum isn't anonymous like Monero or ZCash? Well ZK-Snarks will enable you to selectively make transactions public or private. It's the same standard used for ZCash but implemented on the protocol level on top of Ethereum. This is a big part of Enterprise Ethereum Alliances road map which is why JP Morgan is working with ZCash to implement it into Quorum (JP Morgan private Ethereum Chain) as well. Ethereum is basically taking all the best features from other coins and implementing them. + +Ice Age - Currently, there are ~93 Million ETH circulating with 5 ETH created every 15 seconds (15% annual inflation) during the last upgrade (Frontier) there was an "Ice Age" coded into Ethereum which would slow down the creation of ETH on a curve that would eventually freeze up Ethereum. The reason for this was to force the developers to finish up Metropolis before the network froze up. One side effect of the ice age is that the creation of ETH slows down thus reducing the rate of inflation but also increasing the transaction time. We're beginning to see the first effects of it and by August it'll be 5 ETH created every ~30 seconds. + +Casper - Shortly after Metropolis, Ethereum will release the actual figures for Casper as well as the first of 5 phases which will move Ethereum from PoW (Proof of Work) using mining rigs and computers to approve transactions to PoS (Proof of Stake). What happens with PoS is instead of miners running all the time, you will have people holding ETH "Stake" their ETH and basically lock their ETH up in a smart contract while running software on their internet connected computer. In return for locking their ETH up, they will earn interest on it at an undermined rate (figures Vitalik has floated around varies from 6-12% annually). Not everyone will be able to stake, Vitalik has stated that the inflation rate of ETH will drop from 15% currently down to 0-2%. With basic supply and demand math you should be able to figure out what that means for the price. + +Casper is a major reason people are stocking up on ETH. Imagine if in 1 year you could lock up 1000 ETH and earn 120 ETH per year? If the price is $1000/ETH you're talking USD $120k annual without selling any of your original ETH. + +Edit: some typos, was writing on the treadmill. +It seems to be a consensus among economists that immigration is generally beneficial. + +However, I came across this paper (https://www.aeaweb.org/articles?id=10.1257/jep.25.3.83) which argued that removing all restrictions on labor mobility could increase world gdp by roughly 50-150%. + +Is this true? Is this paper reliable? + +On one hand, I'm generally sceptical of claims that big and that grandiose. On the other hand, it seems like a legit paper (and it has over 700 citations) + +Thanks in advance! +I'm a socialist (or, some flavour of one) and I often hear people try to blame all of Africa's problems on the west and the legacy of colonialism. But I have my doubts about this. So what are the accepted explanations among economic theory and research for the poverty of Africa relative to Europe (and North America and the West Pacific) +So I was out with few work people not friends. Came time to pay the bill. And somehow this loud lady in the group decided on a 15% tip. + +I said hold on… this isn’t US and I don’t support tipping at all. I hate everything it stands for, its origins and what it represents. And we got into this argument about how servers do it tough etc etc. In the end some people tipped and some including me didn’t. I probably won’t be asked to go on this work shit again, which to me is a positive but I am wondering if I should have just shut my mouth. What are your thoughts? +Our population has barely grown, and we continue to add new homes. Yet housing prices are up nearly everywhere. I might expect this in San Francisco. But Cleveland? Pittsburgh? I know individuals with 50 to 75 homes they rent. Is that business model radically distorting the market? Most people I know with “typical” jobs are in the $10-12/h range, not enough to pay a $2,000/month rent. So, where is this heading? +So originally I wrote this about large caps but we all know things start small and or small things contribute and play a part in the big game plays :) + +Plus I am a Canadian so be nice to see what we have here hah + +One thing I love about the modern investing landscape is people are choosing progress, ethical, future orientated companies. + +Is there a money reason, of course hah + +But still we have seen Tesla, Crispr Therapeutics AG, Virgin Galactic (SPCE), and so many others soar. + +I am curious is there a good list of these companies that are leaders in there area of innovation, good ethics, or future leaning? + +The above are great but oh my god soooo over priced hah (Tesla hate incoming) so yah thought I would see what all companies you guys like or watch. + +Or just companies you think are doing or going to do big things and why. +Hello Mr. Casey, + +I read your WSJ article today. I feel deceived by you. + +You requested to speak with me, so I took time out of my day to do so. We talked for 20 minutes, during which time I conveyed to you my sentiments about the Bitcoin ecosystem and the matter of MtGox's collapse. My message was unambiguously a positive one. I didn't focus whatsoever on the personal funds I lost at Gox. Indeed, the impetus for your call was my heartfelt post on Reddit. + +Yet, you ignored everything I said. The only quote that you published from me in the Journal's cover story was ""That's gone now," said Mr. Veerhoos, who is based in Panama City, Panama. "There's no chance of getting that back now."" + +Is that really the takeaway you had from our call and from my letter? Is that your idea of journalism? Did I come across with the sentiment of a despairing investor whose confidence has been rattled? It seems you were happy to completely ignore my sentiments, preferring instead to cherry pick the one fact that is least important, in order to paint a narrative that Bitcoin's biggest problem is that it's not "regulated." I didn't expect you to quote everything I said, but should you not have maintained at least a modicum of fidelity to my message? + +I have dedicated my life to building and supporting the Bitcoin project. I don't give a damn about the money I lost at Gox. That's not important. What is important is that Bitcoin is resilient and enduring, and will continue to grow and change the world for the better. It is a story of human progress through technology. It is a story of the good seeping into the cracks of a corrupted financial system. It is a story of passionate people struggling against all odds to remedy the calamities brought down upon society from the most potently misguided people and institutions on Earth. + +Next time you spend your efforts casting a pall over this cause, please don't ask me to contribute mine. + + -Erik Voorhees + +PS - I will be posting this letter openly on Reddit. I will post your reply if you'd like. And if I do, I won't cherry pick the most misleading points of it, and I will spell your name correctly. + + + +Thinking cap on: for a market misperception to make sense, there needs to be a broader expectation by the market that in the long run, the market will perceive things accurately. There needs to be some sort of trust in the market as a long run weighing machine. Hypothetically speaking, you put enough GME apes in, and you no longer have that, with hedge funds fueling the fire to get their own bag. A [WSB sentiment ETF is even beating the market.](https://getquantbase.com) (which I think is pretty brilliant tbh) + +Now, I still firmly believe in value. But for me, what it would take to say it's dead is probably another two to three years of what's happening right now. At that point, high risk investing is no longer a fad (would be about twice as long as tulip-mania) and the "investors" that entered the market to make a quick buck and then got burned, still have their loss porn communities to come back to and start again. Is this all a naive take? Would love to hear some intelligent discussion. +I actually can’t believe what I’m seeing. + +&#x200B; + +Last Friday I submitted two buy orders of GME. A 50 stock order in the morning and a 20 stock order in the afternoon; both at market price. + +&#x200B; + +https://preview.redd.it/ysgor6pva6s81.png?width=1978&format=png&auto=webp&s=d634ab88c89994862516e103cd686c45df1c89d1 + +&#x200B; + +I thought I would see if I could find my orders on the time and sale sheet. I found them. Here they are. + +&#x200B; + +https://preview.redd.it/gdquusuxa6s81.png?width=2838&format=png&auto=webp&s=d74e67fb17e4fd8799e13347808a73e085607101 + +https://preview.redd.it/ityjiguya6s81.png?width=2918&format=png&auto=webp&s=3d7a64c85b071f843a49d0ab9c8874c80caddc2a + +&#x200B; + +The times are noticeably behind what my broker is telling me, but it’s less than a second and the price matches. They are undoubtably my orders. + +&#x200B; + +The column next to the price is the exchange. NQNX is the Nasdaq Trade Reporting Facility. I had no idea either. I know it’s off-exchange, but what really is it? + +&#x200B; + +>The Nasdaq TRF electronically facilitates trade reporting, trade comparison and clearing of trades for all U.S. equities. The TRF handles transactions negotiated broker-to-broker, or internalized within a firm. + +\- NasdaqTrader + +&#x200B; + +Ok, so my broker got my order and either shipped it directly to another broker or settled it internally and pocketed the difference. It never saw an exchange. + +&#x200B; + +Yesterday I submitted an order to sell 4 shares at market price. + +&#x200B; + +https://preview.redd.it/mr8tk6y5b6s81.png?width=1864&format=png&auto=webp&s=7caf0c9655424d2a886572d69b878c8ec582541c + +&#x200B; + +I’ll give you one guess which exchange my order was on. Yessir, right to the NYSE. + +&#x200B; + +https://preview.redd.it/llvoxp57b6s81.png?width=2814&format=png&auto=webp&s=79547baf96d83b26d5bea543bc6c7bd7b893a808 + +&#x200B; + +So buy orders get handled behind the scenes but sell orders go straight to the NYSE? Cool. + +&#x200B; + +tl;dr I submitted 3 orders of GME over the last 7 days. Two buy orders were routed off-exchange and the sell order was routed to the NYSE. +If you're in this subreddit then you probably know about the huge energy bill increases coming in winter. You may also know that a huge number of people are living paycheck to paycheck, especially after the last energy bill rise. Over 2 million or 3% of the population are using foodbanks, and that was the case even in 2019. Many homeowners are overleveraged, with the interest rate rises and all. And there's a global food and fertilizer crisis too. + +When the bills go up, unless you're really wealthy your two options will be to not pay if you can't afford it, or to pay and reduce your disposal income if you can. Energy suppliers will go bust (will they get bailed out?). Spending will reduce which surely leads to economic contraction. But many might also default on their mortgage or be unable to pay things like rent and credit card debt. + +So what's the best thing to do if you have investments and are still able to make savings now? Is it bad to have savings in GBP, should we buy USD? Or just hold US stocks? A lot of other countries are in the same position too. +Most of the advice here tends to be quite conservative and actually quite good. E.g people will say get funds instead of trying to pick stocks, or possibly get a tracker vs active, or maybe get a tracker here vs there, or global, that sort of thing. But whenever anyone recommends an individual stock (not just on this sub but on any investing sub on Reddit), whenever I buy it on that basis, it then proceeds to tank massively. + +And it got me to thinking that it's a bit suspicious, because whenever I've picked stocks myself, even with no experience at all, they seem to have gone up by 15-30% since October. But whenever I buy anything based on a Reddit recommendation, 50% drop. + +Examples, MGC Pharma, Corsair, AMD, Palantir, Serica Energy, XP Power. + +Don't worry I didn't buy GME or AMC, even as a complete noob I'm not that gullible. But the point is the above stocks are by a huge margin the worst performing in my portfolio. Everything (including stocks I've picked myself, random funds etc) are all up by at least 10% (granted that's a bit of an exaggeration, I do have one or two which are down by around 5%. But the ONLY things I have which are down literally 30% or more are things talked about on Reddit. + +So what's going on? Is there some sort of scam going on, or are people who have the balls to give investment advice actually worse at picking stocks than a complete noob? +How was the market sentiment back then? Go and talk to anybody around me nowadays, including a barista in the coffee shop. Everybody seems to talk about "investing" in stocks and/or crypto. Kinda **foollish** to think that I am not a part of the mob driven by trends too. Although I tend to consider myself as a "value investor" with long-term horizon (however, nowadays who doesn't). + +There is a reason for equity price to inflate so much (QE / helicopter money / low interest rate etc), but boy, it's not a healthy way for society to have so many market participants chasing short-term gains. +Modern accounting allows for a small trick that many companies take advantage of. As an investor, you should be wary of it. + +The trick is to cleverly conceal stock-based compensation (SBC) within share repurchases. + +Some investors look at the statement of cash flows and calculate Free Cash Flow (FCF) by taking the Cash Flow from Operations (CFO) and subtracting CapEx. Unfortunately, SBC is treated as a non-cash expense and added back to Net Income in computing CFO, which means that the FCF number calculated is likely inflated. + +More astute investors realize that there’s no such thing as a free lunch. So, they treat SBC as a cash expense and ignore the line item that adds it back to Net Income in the statement of cash flows. While they are closer to the truth, they too are likely underestimating the impact of SBC. + +Let me explain with the example of Apple. Here’s their [latest 10-K](https://www.sec.gov/ix?doc=/Archives/edgar/data/320193/000032019321000105/aapl-20210925.htm). + +If you look at their statement of cash flows, they have a SBC expense of [$7,906 million](https://imgur.com/a/Dtcf2ff) in the operating section. + +So far so good. Now let’s take a look at the [financing section](https://imgur.com/a/ZR4IN6G) (all numbers are in millions): + +* Proceeds from issuance of common stock = $1,105 +* Payments for taxes related to net share settlement of equity awards = ($6,556) \* +* Repurchases of common stock = ($85,971) +* Net cash flow related to common stock transactions = ($91,422) + +*\* negative sign represents cash outflow* + + You can see the shares outstanding in the [balance sheet](https://imgur.com/a/uzvFqwb) (all numbers are in thousands): + +* Shares outstanding at the end of fiscal 2021 = 16,426,786 +* Shares outstanding at the end of fiscal 2020 = 16,976,763 +* Net change in shares = 549,977 + +So Apple used $91.4 billion to repurchase 550 million shares. This works out to $166 per share. But AAPL shares never traded as high as $166 in fiscal 2021 (Oct-2020 to Sep-2021). Something’s fishy here. + +Let’s look at the notes to the financial statements. Specifically [Note 8](https://imgur.com/a/Q6qxSri). There you go. The company repurchased not 550 but 656 million shares. But it also issued 106 million shares to employees. + +So, of the $91 billion cash used in common stock transactions, only $76.6 billion (550/656 * 91) was truly used for repurchase. The other $14.8 billion was actually used for SBC (distributed as shares instead of dollars). + +This means that the actual SBC of $14.8 billion is nearly double the reported figure of $7.9 billion! + +Where does this $6.9 billion differential show up? Not on the balance sheet, the income statement, or the statement of cash flows. It shows up in the lower share count, or a lack of it. There’s your sleight of hand. + +Here’s a [summarized view](https://imgur.com/a/Y8wL5le) of this gimmick. This isn't to pick on Apple. A lot of companies do this and it may be a natural consequence of the compensation policies. The lesson for us investors is that we should be skeptical of the reported SBC and repurchase numbers and adjust our cash flow expectations accordingly. Cheers! +I was barely managing our new rent increase, and I thought we were going to be ok with cutting back on a few more extras. But this… this could be my 13th reason. There’s no reason for it to be this high. There’s no lights on during the day because of the heat as it is.(all our windows are blacked out to keep some cool air inside) I don’t run big appliances except for laundry on Saturday night . Our ac stays set at 76 and that doesn’t help get the indoor temp below 81 during the day, but I can’t turn it off and risk heat exhaustion. And what makes less sense to me is the usage!!! Less than this time last year and almost triple the amount. I have 4 kids that return to school in less than three weeks, and the little bit I was able to save for back to school is going to have to go toward a light bill! I’m so angry. I don’t even know what to do anymore. The thought of being homeless again after 6 years of fighting to get where we are now…the hours and hours I wasted working overtime instead of spending time with my kids…all for nothing! I give up + +Update: after getting some sleep finally, I was able to find some more information on the insane charges this month. +Base rate : $0.070/kWh +PCRF: 0.075/kWh this is charged to pay back the cost to generate power and can change month to month. +33 days billed +3156 kWh used. +With that being said-I think I am angrier at the fact that I feel the power company is double dipping- and they’re essentially charging every one twice-so this is bullshit. But they were nice enough to have a list of resources that might help with the costs that they’ll accept. And they do offer average billing so I will definitely ask about it on Monday when I call them. +I was told by r/AskHistorians this question is more fitted for economics, so please forgive me if this question is too history related. + +I recently started to wonder through all farming slaves did (the crops, cotton, etc). through all the transportation, and buildings slaves labored at. (ex: white house ). Through what little slavery did for the economy and capitalism in America( from what I heard slavery wasnt really better for the economy but i may be wrong). Through everything the slaves did before the conclusion of the civil war, what did they contribute? + +Basically, would America be where it is today if it weren't for slavery? Or was their impact on America's success too minuscule? +Feel free to check your area's Living wage; this is the same [calculator](https://livingwage.mit.edu/) used in "The Fight for $15", which started in 2012. [CHECK RENTS HERE](https://www.huduser.gov/portal/datasets/fmr/fmrs/FY2022_code/select_Geography.odn) \*\* + +Adjusting for [inflation](https://www.bls.gov/data/inflation_calculator.htm) in 2012, $15 is about $19.40 today. However, the cost of housing and other expenses has outpaced inflation and wage growth. [Productivity](https://fred.stlouisfed.org/series/OPHNFB) has tripled since 1970, yet we have lower living standards, and the [birth rate is plummeting as a result](https://en.wikipedia.org/wiki/Demographics_of_the_United_States). + +[Living Wage Calculation for New York-Newark-Jersey City, NY](https://livingwage.mit.edu/metros/35620) \- I live in Manhattan, so the $26 is the minimum for me, but in an area with over 15 million people, it is still well above $20/hr + +[Living Wage Calculation for Bronx County, New York](https://livingwage.mit.edu/counties/36005) \- I grew up here, In one of the poorest areas in the united states; a one-bedroom now costs $2,000/mo. Without social safety nets, an individual can't support oneself or live within a two-hour commute of the city center. How is this economic model sustainable? If you use the inflation [calculator](https://www.bls.gov/data/inflation_calculator.htm) and this [data](https://www.huduser.gov/portal/datasets/fmr/fmrs/histsummary.odb?inputname=5600.0*New+York%2C+NY+PMSA) and compare it with [this](https://www.huduser.gov/portal/datasets/fmr/fmrs/FY2022_code/select_Geography.odn), you can see rent has outpaced inflation. + +MIT Research states explicitly: + +>[The living wage model does not allow for what many consider the basic necessities enjoyed by many Americans. It does not budget funds for pre-prepared meals or those eaten in restaurants. It does not include money for unpaid vacations or holidays. Nor does it provide money income to cover unexpected expenses such as a sudden illness, a major car repair, or the purchase of a household appliance such as a refrigerator. Lastly, it does not provide a financial means for planning for the future through savings and investment or for the purchase of capital assets (e.g. provisions for retirement or home purchases).](https://livingwage.mit.edu/resources/Living-Wage-Users-Guide-Technical-Documentation-2022-05-10.pdf) + +This is literally only enough money to not be homeless, starve or die from preventable disease. The barest of the bare minimums. +What is it called when you purposely suggest a high price to a buyer so that the second lower price seems more reasonable? (For example: "Oh you can't give me $1,000, could you at least give me $500?") +To my limited understanding, Sweden has nailed their economic model – they manage to sustain a high-innovation, socially-supportive economy that I think should be the model for America and elsewhere. + +As I understand it, this is the result of mechanisms that include: + +* High income and consumption taxes, with substantial government spending allocated towards free healthcare and education +* Incentives for entrepreneurship (inc. paid leave of absence to start a company) +* Low taxes on capital (wealth, property, inheritance) + +My question is in the title: Why do they prefer income and consumption taxes to taxes on capital (are they intending to incentivize entrepreneurship, or is this not the explanation)? And does this have downstream effects for inequality (Sweden seems to have a pretty low Gini coefficient)? +According to the film "The Big Short", many economists and banks think that the housing bubble burst won't happen because "who doesn't pay their mortgage?" Why did economists-- including Alan Greenspan-- think there won't be a housing crisis? I get that one of the points the film has mentioned is that there hasn't been a housing bubble burst in history and people have become complacent, but it seems naive to think that that will never be the case, especially that there have been alarms raised by other economists before? +Been around for a while and we go through periods of Ethereum vs Bitcoin mentality. This shouldn't be the case because Bitcoin will always remain important in the world of crypto; it's death and loss if credibility will be bad for the entire space. + +At this point the flippening seems to be immenent. I know 90% of the people here are either hxc Ethereum fans or relatively new to the sub, so I think now might be a good time to remind everyone to not shit on Bitcoin(ers) when the flippening actually happens. We want them to join this space. + +Edit: theFlippening is the point in time where Ethereum becomes the dominant coin in market capitalization. Up until now Bitcoin has held that spot. Metrics can be seen at www.flippening.watch + +Removed a sentence because it was stated to be against the rules. +Stat- https://twitter.com/stats_feed/status/1519298692238352387?s=21&t=zcO8B3AXLEGnCN5BvKTzqQ + +I always thought robots will kill jobs. But in South Korea that doesn’t seem to be the case. +Hello everyone, + +I just found this sub recently and have enjoyed reading all of the discussion that goes on about "boring" dividend stocks! After the market crashed in March last year, I figured it was the best opportunity to start investing that I was going to find for a good while. I consistently put away a fixed percentage of my paychecks into my brokerage no matter what the market looked like (although it was mostly green, to my luck lol). I thought I would show my top 10 holdings by total value, share my investing philosophy, and hopefully receive any feedback or advice from you all. (Yield and P/E are pulled from Nasdaq). + +&#x200B; + +|Ticker|Sector|Value|Yield|P/E (TTM)| +|:-|:-|:-|:-|:-| +|ADM|Consumer Staples|$456.51|2.72%|17.69| +|TROW|Financials|$415.80|2.19%|16.29| +|GD|Industrials|$401.52|2.70%|14.98| +|MMM|Industrials|$390.10|3.25%|19.32| +|QCOM|Information Technology|$384.15|1.79%|25.30| +|TXN|Information Technology|$378.50|2.34%|30.09| +|JNJ|Health Care|$374.97|2.42%|30.23| +|WBA|Consumer Staples|$363.74|3.62%|(N/A, negative EPS)| +|VZ|Telecommunications|$353.16|4.57%|12.63| +|O|Real Estate|$347.83|4.50%|51.62| + +Honorable mentions: T, AFL, ABBV, PFE, MCD, USB, NUE. I also own 2 ETF's: SPHD and VYM. + +My main goal for dividend investing is to buy companies that pay a steady AND increasing dividend, and buy them when they appear to be "undervalued." There are a lot of ways to determine the worth of a company, but I personally like to find strong companies whose P/E ratios are currently below the S&P 500 average, or whose P/E ratios are below their typical level. I am a huge fan of the Dividend Aristocrats, as they have increased their dividends consistently through **multiple** market crashes. Keep in mind that not every Aristocrat is a good buy at any time though; some may be on the verge of falling off the list due to the climate of the market (ie. a global pandemic). I also prioritize healthy payout ratios and steady dividend growth over high yields. If you are buying a company with a yield over 4-5%, do some research to be confident in that company's ability to keep paying that yield in the future. + +I made an active effort to have at least 1 or 2 companies in each sector to diversify sector-wise (NUE for materials, O for real estate, VZ, T for telecom., TXN, QCOM in IT). Another goal of mine is not let any one company take up more than 5% of my portfolio. Currently, ADM is sitting at \~4.5% of the total value, so I'll probably not be buying more shares at least for a little while. + +Going forward, I will continue my habit of stowing away a percentage of my paychecks for dividend stocks. It really is a weight off your shoulders when you just buy and hold, and when you don't have to worry about the market being in a bubble, etc. One of my favorite sayings is, "Time in the market > timing the market." + +Anyway, I'm looking forward to any feedback, advice, or stock picks you all might have! Happy investing! +&#x200B; + +https://preview.redd.it/yyqfv0thufq71.jpg?width=1568&format=pjpg&auto=webp&s=5bdf185ad893ded06ed7f32f2cdb64f25560c3d8 + +(Edit) Note: US IPs are experiencing this across the board, while Euro IPs are reporting they are not. + +TLDR; For the last several days Go0gle has stopped associating (auto filling) the word perjury with Ken Griff1n when searching (try it yourself). Virtually every other name you search (including 'random name' and 'mickey mouse' will complete the word perjury when you start to type it. DRS is the way. + +======= + +A couple days ago [I posted about this](https://www.reddit.com/r/Superstonk/comments/pwm32v/the_social_dilemma_a_case_study_into_evidence/?utm_source=share&utm_medium=web2x&context=3), and it was lost in the noise. Since this is still actively happening, I felt it was worth bringing it to light again so more people can see the lengths K3n will go to to protect himself. You think when you search Go0gle (or any other search engine), you're receiving an unbiased view of the internet, free from manipulation, and that hasn't been massaged based on monetary incentives. You think you live in a world of free information flow on the internet. + +Guess who else is being protected... + +https://preview.redd.it/mgwojerqxfq71.jpg?width=1585&format=pjpg&auto=webp&s=6570c54f9038fa667d365b0c04e3abb999e56e1d + +Recommend watching the following documentaries on this topic to learn more about what's going on with your internet searching: + +The Creepy Line (Amaz0n Prime) + +The Social Dilemma (N3tflix) + +&#x200B; + +Please let me know what other names associated with this mess are hiding from the public through this subtle yet blatant search manipulation. + +&#x200B; + +# DRS is the way. + +&#x200B; + +Edit: It brings a smile to my face to imagine a Google analyst deep in he bowels of Alphabet HQs getting a pop-up notification of a **trending search** that hits their blacklist *'Ken Griffin + perjury'* and wondering "Hm... what's this?" thinking to himself *'why did thousands of IPs from all over the globe just now search this?'*, as he took off his Google hat for a second, placing it slowly down on his desk, he clicks the disable button on the "don't show Griffin + perjury news" (camera pans to the side of this noble character... to reveal an Ape riding a rocket to the moon tattoo (one of us, can be heard chanting in the background as the scene cuts to Ken's trial)... likely there is no analyst like this, but one can dream. The movie deserves it... if I were the one writing :D + +Edit 2: Worth noting. This post is at 98% upvoted (at 7.5k votes) at 11:03am EST and I've added the phrase "DRS is the way." in two places. I'm curious to see if that upvote diminishes with this phrase being included. I will report back later. + +Edit 3: Checking back in... 30 minutes later. This post is now 94% upvoted (at 11.1k votes). I'm an engineer, so I think I can do this math, but someone please correct me if I'm wrong (I assume upvotes cancel downvotes in the total represented)... in that case a drop from 98% (at 7.5K upvotes and 150 downvotes = 7.65k total at edit 2 above) to now 94% (11.1k upvotes and 667 downvotes = 11.7k total as of this edit) means the last 4.1k voting between edit 2 and this edit required 517 (or 667-150 = 517) downvotes to bring the average to 94% on the total upvote of 11.1k as of now. + +So... + +After the words "DRS is the way" were added to this post. The percentage of downvoting increased from 2% (150 of the first 7.65k) to 12.6% (517 of the last 4.1k votes) to make the total 94% upvotes at 11.1k upvoted (as of the time of this edit). + +or... if I'm being fair in considering alternative explanations... it's possible that being at the top of the sub brings a lot more "this isn't directly about what I want to see... so I'll downvote" sentiment. That said, the post was at the top for a good 30 minutes prior to edit 2 above and was fluctuating between 98-99% since it started. So I see this as unlikely to be the main contributing factor to the uptick in downvoting here. + +Just providing the data and some thoughts of my own. I'll let others draw their own conclusions. + +Edit 4: Looks like my edit 3 section included the name of the sub triggering the automod to remove this post. I'm hoping it can be fixed. I've edited that part to read "the sub" instead of the name. + +Edit 5: It's back up. Thanks mods, appreciate you. + +Edit 6: Searching the term now brings you directly to this post. + +"Fate it seems is not without a sense of irony." + +https://preview.redd.it/sunfzznwygq71.png?width=2125&format=png&auto=webp&s=f38d9b7a482e60226b0e6a528cb0f172ced486c4 + +Edit 7 (1:45pm EST): continued analysis of the voting ratio... current upvote total is 22.1k with 91% upvoted (continuing to fall and approach the 12% rate we've seen since edit 2 above). This means there are a total of approximately 1,989 downvotes as of now. From previous points of reference we know that 150 of the first 7.65k were downvotes (2%). From Edit 3 we know that about 517 downvotes (12.6%) came with the next 3,600 upvotes (the time between edit 2 and 3). Since edit 3 another 11,000 upvotes have been registered along with approximately 1,322 downvotes (1989 - 150 - 517) which represents 12.02% downvoting since the last recording at edit 3. + +**The downvoting percentage has been holding steady at 12%** since edit #3 and after the words "DRS is the way" were added to this post. + +To summarize. This post saw the front page here about an hour after it was posted. It made it to the top post by the 90 minute mark. At the 2 hour mark I noticed the upvoting was steady between 99-98%. During edit 2 (about 30 minutes after this post was at the top spot) I added "DRS is the way" to it in two places... after sitting at the 1-2% downvote mark the first 5k votes, the post drastically changed to a consistent 12% downvote right after the mention of DRS was included. + +To me, this is proof that either approximately 1 in 8 apes dislike DRS enough to downvote posts that mention it, but not enough to comment about it under the post (I don't see many comments saying anything negative about DRS since I've added it), or the more simple conclusion might be that a network of accounts are downvoting DRS mentions. + +========== + +Edit 8: Since I was asked... here is the TLDR for the edits (downvoting analysis in real time; and how it relates to DRS mention)... + +TLDR edits; Before the mention of DRS being added to this post (second edit) the first 5k votes were 1-2% downvotes (I'd say 1.5% based on it fluctuating between the two at that time). Since I added "DRS is the way" to this post the downvoting has steadily been 12-13%. + +There is no explanation I can think of to explain this sudden change from consistent 1.5% downvote to suddenly a 12% downvote... other than to point to the obvious conclusion that: + +# a network of bot accounts are downvoting posts that mention DRS. +I'm sure that most people who joined this sub seek out the knowledge on the world of 3,000+ etfs. Yes, there are etfs that invest in thematic to women ceo's to water to leveraged. I don't know about you guys but all I really learned on this sub is either you go VTI and VXUS or you are a sore loser. People will put you down if your fund doesn't start with V. They said in the long run, you don't really beat the market. Or maybe you do. If you are that naive and boring investor, I get it but it doesn't mean you have to shoot down when someone put their money in any other ETFs. For people who are new to ETFs and want to learn, this sub is full of boring assholes for sure. That being said, if you are offended, I'm talking about you. And about "chasing past performances." That's too. Yes. You. +Everyone is comparing the split to Tesla, and entirely missing the real comp- Overstock. This has always been about Overstock. RC bought in to GME right after overstock proved out the concept to end naked shorting. + +Here's what is going to happen- here soon the company is going to announce that the shares they are providing via dividend will be in the form of tokenized securities and delivered to the new GameStop wallet on the nft marketplace. + +Your existing shares will stay wherever they are and continue to be tradeable via your brokerage on analog exchanges. + +Your new shares will be tradeable on GameStop's own marketplace only. + +Brokers can't pay you cash in lieu of a tokenized security. Shorts can't provide fake shares and then just FTD them endlessly. + +If you are DRS'ed, Computershare gets you your tokenized shares immediately. + +If you aren't, your broker likely can't provide you shit because there aren't enough tokenized securities in existence to provide you them. + +Shorts now have two options- they either buy all the fake shares back out of brokerages to clear their obligation to provide tokenized shares. Or they try to buy tokenized shares for the shorts on their books. Either way, it's forced buying of GME and moass. + +This is exactly how Overstock did it, and they set important precedence in lawsuits that they won. + +Hedgies r fuk. DRS if you want to get what will become the most in demand digital property in history delivered to you. + +Edit since this gained some traction- I want to highlight one other thing because I think it's super important. For awhile I've wondered why RC didn't just partner with overstock/TZero to issue tokenized securities. + +The answer is now very obvious. TZero just hired a new CEO. The guy was a top exec at the NYSE and a board member of the DTCC. TZero is centralized. Basically, the wolves are taking over that hen house. + +Loopring as we know is fully decentralized and RC chose them to provide the plumbing of his exchange in part for that reason. + +RC knows the way, and this is the way. +Hi guys, I’m a former WSB member who grew disenchanted with the sub after the GME fiasco and the irrational pump and dump and siege mentality that developed over there. I’ve decided to rotate away from the overvalued growth stocks that are popular now and want to get into more value based positions. I have read Security Analysis by Benjamin Graham as well as The Intelligent Investor so I understand the basics of the strategy. My question for you is what platforms/ sites do you use to do research and what factors do you look for in a stock and do you have any stock recommendations? +Thanks for all your help, I’m excited to be in a community that isn’t dominated by insane and irrational children. +I updated my dividend chart today after buying a few shares this week and I’m making $100.06 a month if you split the payments evenly per month. I’ve been waiting for this milestone since I started 2 years ago when I was 18 and I really feel like I’m making progress now. I don’t have anyone to share this with but I’m really excited about it. +*Edit: There's a lot of great responses and info about my questions in the comments! Will try to incorporate that into the post as I go, or make a followup tomorrow!* + + + +First off, my position: 1900 shares of GME @ 30, plus 5 calls @ $250. Peak value was nearly 500k. + +https://preview.redd.it/96g5d07z45f61.png?width=1007&format=png&auto=webp&s=4e983f8d1a6b56bcf4201d32a56b0c2535886d5b + +*This is not financial advice, I'm not an expert, etc* + +\*\*WHY SHOULD WE STILL HOLD?\*\* I know there's a lot of sentiment around solidarity, and sticking it to the man, and 'fuck it, I'm down so much anyway'. NONE OF THESE ARE GOOD REASONS TO HOLD. I'm here to talk about the actual reasons to hold. + +Here's our biggest problem: **Misinformation** + +There is a lot of information being spread around like manure. Mostly unread, mostly un-disseminated, basically just a whole bunch of positive sounding claims meant to serve as confirmation bias. + +How do we ensure we're not just buying into bullshit? **By determining exactly what data we have available to make decisions as of right now**. That is what I intend to review (and hopefully gather from you apes) here today. + +**A REVIEW OF THE FORCES ACTING ON GME** + +1. **Fundamental Value:** This isn't relevant right now. GME is presently a $20/share company, even with Ryan Cohen shooting magic rainbows out of his ass it's not worth more than $60 until they actually start changing their business model. When that happens the value will go up, for now 30% above expected online revenue growth doesn't mean shit in the bigger picture. +2. **Momentum:** This is the biggest reason we hit $500/share, and the biggest reason we're still at $90, way above fundamental value. Here's something to consider: **Momentum, not the squeeze, is why the share price is where it is -** rather, the growing global awareness of the squeeze provided the evidence needed for everyone to rush to get onboard. But, people are also idiots. Momentum can change directions quickly from an upward to downward pressure, and can be easily manipulated, as we've seen. +3. **THE SHORT SQUEEZE:** What actually causes the high short interest to result in raised share prices? Short sellers who are actually (not theoretically) pressured into closing their positions at an overall loss, and en masse. If most of the shorters can wait out or hedge against their losing positions, then there never has to be a mad rush to buy up shares at whatever price. *Do you actually think Melvin Capital was at any point margin called?* If/when they exited, they did so in an orderly fashion that best served their interest, to the point that they were straight up given a multi-billion dollar bailout by their competitors! These people don't play by the same rules as you, you fucking braindead monkey. +4. **The Gamma Squeeze:** Last Friday, for the second Friday in a row, a vast majority of calls expired In The Money, and a bunch of call owners were owed shares by today (T+2 rule). The theory behind the gamma squeeze is that call sellers didn't have good risk models and didn't hedge their calls well enough, and so didn't actually own enough underlying shares to hand over, and now need to rush to buy them at market price. Could that be why there was a massive spike from 80 to 150 this afternoon? Maybe. **But a gamma squeeze can also backfire**. All those people assigned shares may not have the tens of thousands in cash ready to buy, or the margin to borrow. That means all those shares get dumped back on the marketplace. +5. Straight up motherfuckin dirty illegal manipulationOh, best believe it happened, and is still happening. Just to review the hits: + 1. DTCC and/or Retail brokers prevent buying, artificially suppressing demand for Thu price drop and locking up people's money till they could transfer elsewhere. + 2. Sudden increases to margin requirements and severe margin calling + 3. A massive media campaign to announce shorts closed positions and everyone is in Silver + 4. Retail brokers cancelling orders, restricting limit prices, enforcing unwanted stop losses (eToro), + 5. Illegal coordinated short ladder attacks to drive down price and fish for stop losses and paper hands. + +&#x200B; + +**OK, BUT YOU KNEW ABOUT ALL THIS. WHAT'S IMPORTANT NOW IS** + +***WHAT EVIDENCE DO WE ACTUALLY HAVE ABOUT THE CURRENT STATE OF PLAY?*** + +&#x200B; + +No, really, I'm asking. Our advantage is in our ability to crowdsource information. I will edit and update this list as information is shared. Meanwhile I'll try to flesh out a framework as best I can. + +**Argument #1: The Squeeze is not Squoze because Short Interest is still high** + +* Claim: As long as the Short Interest exceeds the Float, there is a supply problem for short sellers. This *may* translate into pressure from lenders on short sellers over time, driving the squeeze. +* Evidence needed: What is the current short interest? + * S3 partners provides estimates using a model, and as of today claim it is only **51% of free float**:Source: [https://twitter.com/S3Partners/status/1356317744300490752](https://twitter.com/S3Partners/status/1356317744300490752) + +https://preview.redd.it/7e4mes1qf5f61.png?width=277&format=png&auto=webp&s=cfb3da83d0aaaeb2256e11bf7a3e3eaf8b31de90 + +&#x200B; + +* Ortex data provides another estimate using another model, and as of yesterday claims it is only 27 mil shares, only a million shares difference from S3Source: [https://www.ortex.com/stocks/26195/shorts](https://www.ortex.com/stocks/26195/shorts) + +https://preview.redd.it/yo2s5e2cg5f61.png?width=1691&format=png&auto=webp&s=d83701a452b5aaa079e3a3948cecbbb3feb77b5a + +&#x200B; + +* **REAL DATA:** The SEC releases reported short interest twice a month. The most recent data we have is from Jan 15, and wasn't released to the public until Jan 27.\*\*On Jan 15 the SI was 131%.\*\*The next report for Jan 31 won't be available until Feb 9.Frankly, we can't rely on the REAL data, because it's delayed too long to be relevant. +* Evidence needed: What is the actual free float? + * I still need help finding this. I know 71 Million shares have been issued overall, but a lot of that is locked up in institutions that would have to report any selloffs within 3 days. If 27 million shorts still need to close, how many shares are readily available? + * Yahoo Finance puts Float at 46.89 mil shares, FWIWSource: [https://finance.yahoo.com/quote/GME/key-statistics/](https://finance.yahoo.com/quote/GME/key-statistics/) + +**Argument #2: There hasn't been enough trading volume for shorts to possibly close** + +* Claim: assuming \~27 mil shorted, not enough shares exchanged hands since the price blew up to close those positions. +* Evidence: Someone explain to me how this isn't enough volume for shorts to cover. Mark Cuban said pretty much the same thing in his AMA today. + +|Date|Trade Volume| +|:-|:-| +|2/2 Tue|77.8m| +|2/1 Mon|37.3m| +|1/29 Fri|50.5m| +|1/28 Thu|58.5m| +|1/27 Wed|93.3m| + +**Argument #3: Short Sellers will are under pressure to close, so the squeeze is coming** + +* Claim: Short sellers are bleeding money trying to outlast us with their losing positions, and will eventually prefer (or be forced) to close out the loss rather than be caught in the squeeze. +* Evidence needed: Shorts are (on average) in a losing position at current share price ($90), and can't just close right now at profit +* Evidence needed: Any external pressure on shorters to close their position at a loss rather than waiting us out for the price to drop further + +&#x200B; + +**Argument #4: Market manipulation shenanigans didn't work, and retailers didn't sell off en masse, creating the liquidity shorts need to close cheaply.** + +* Claim: Price dips happened during low volume trading (short ladder market manipulation etc), and the longs are holding fast. +* Counterevidence: THE MOTHERFUCKING $300 PRICE DROP YOU DUMB FUCKING NUGGETS +* Evidence: This popular screenshot of Fidelity's order ratio:Source: [https://eresearch.fidelity.com/eresearch/gotoBL/fidelityTopOrders.jhtml](https://eresearch.fidelity.com/eresearch/gotoBL/fidelityTopOrders.jhtml) + +https://preview.redd.it/5jnmtl00l5f61.png?width=1021&format=png&auto=webp&s=d9e676fbd3e0811f826463f14d4b9c12971ed6b2 + +* Counterargument: Order counts don't mean shit. For every share traded there is a buyer and a seller. So 100k buyers buy one share each, and 40k sellers sell 3 shares each. Or 20k buyers place 5 buy orders for one share each, and there are less buyers than sellers overall. WHO KNOWS? This strikes me as very insufficient evidence for bullishness, serving only as confirmation bias for bagholders. +* **Evidence needed:** Something more concrete that better proves that more shareholders held than sold. +* Evidence needed: other brokerages data on buy vs sell orders. Fidelity is just one broker, and a retail broker at that. Hedgies don't trade with Fidelity. + +&#x200B; + +**Argument #5: The biggest dips were driven by short-ladder attacks during low volume periods** + +* Claim: the decrease in price from 500 to 90 is mostly fueled by artificial suppression of demand and fake selling (short ladders), and not so much by change in momentum. +* Evidence: At this point its guesswork based on limited evidence provided by redditors. Essentially, round share numbers sold within microseconds at fractional prices + * [https://www.reddit.com/r/wallstreetbets/comments/la682h/visual\_representation\_of\_a\_short\_ladder\_attack\_4/](https://www.reddit.com/r/wallstreetbets/comments/la682h/visual_representation_of_a_short_ladder_attack_4/) + * [https://i.redd.it/qoyvz8grr3f61.jpg](https://i.redd.it/qoyvz8grr3f61.jpg) +* Counterargument: short ladder attacks are straight up not real, conspiracy theory confirmation bias invented by WSB itself: [https://www.reddit.com/r/wallstreetbets/comments/latax6/short\_ladders\_are\_not\_real/](https://www.reddit.com/r/wallstreetbets/comments/latax6/short_ladders_are_not_real/) +* Evidence needed: I've seen but can't find better video evidence showing the stream of rapid trades at fractional prices and round share counts (100 shares at a time), could use that. \\ +* Counterargument: The artificially reduced volume from Robin Hood and other brokers limiting access has now been largely removed, as RH allows 100 shares and by now people had time to transfer funds to another broker. Damage to momentum was done, but if there is still a valid thesis it should just mean people can buy the dip, right? +* Evidence needed: That the price dips over the last 48 hours haven't been accompanied by massive trading volume. I'm seeing a lot, especially compared to Thursday's artificial suppression: + +https://preview.redd.it/77a0euotp5f61.png?width=1884&format=png&auto=webp&s=62b0af04608cb5fb235895d8bbd03b9e19a00588 + +&#x200B; + +**Argument #6: 'You are here on the VW short squeeze chart'** + +* Claim: See how the famous VW short squeeze also had a massive price drop before it blew up? That's us right now. +* Evidence: A single, solitary chart + +https://preview.redd.it/mx6fs2f5r5f61.png?width=1242&format=png&auto=webp&s=60cc9096c46097b7328c59c2572b3466e5241131 + +* Counterargument: the VW scenario was not the same as the GME play. VW share liquidity plummeted literally overnight when it was revealed that Porsche had bought up 90% of the float (check me on that fact, I'm repeating secondhand info). See the big dip AFTER the squeeze? How do we know we aren't *there*? +* Evidence needed: IDK, some kind of coherent explanation of why VW dipped like that, and why a similar dip would be expected in the GME Play + +&#x200B; + +&#x200B; + +Will edit with more, my primate fingers are hurting from trying to press the keys and my handler needs to readjust my helmet. +I'm also starting a new project that might +make much more money but it might not +work out too, but just like the first one I +have people working for me so I still have +time, what do I do. +Russia has kept their stock exchange closed through all of last week, and has announced it will be kept closed today and tomorrow at the very least too. + +How long can Russia seriously keep their exchange closed before they have no choice but to open it? And what are the consiqences for the country for keeping it closed indefinately? +Berkshire is now outperforming the S&P 500 over the past 10 and 20 years while quickly closing the gap for the past 5 years. This is nuts, not only because of how well growth has done versus value this past decade but also because Berkshire currently trades at a sub 10 PE ratio while the S&P 500 trades at a PE ratio over 40. + +Original inspiration for the post and graphs of performance: + +[https://twitter.com/oabdelmaged1/status/1390103777940738050](https://twitter.com/oabdelmaged1/status/1390103777940738050) +I posted a few days ago about massive water bills I was having that I thought was tenant abuse. I had 4 separate plumbers out to the property to look for any signs of leaking toilets or water main leaks etc... After having nothing discovered I was at a total loss for what the issue was and really thought tenants were just throwing pool parties every night. + +&#x200B; + +Long story short: This morning my insurance agent who just wanted to help out took a look around the property and discovered not 1 but 2 toilets with bad flappers. How on this planet four master plumbers failed to spot this but my insurance guy figured it out in 20 minutes is so beyond me. + +I've wasted about $3,000 trying to figure this out and in water bills. + +&#x200B; + +I am looking into Submetering ASAP as this was one of the bigger eyeopeners I've ever had in my entire life. + +&#x200B; + +Jesus. Fucking. Christ. +I have $6,035 dollars and I just turned 17 a few days ago, I've been busting my ass without a dad in my life my mom gets paid child support just to not have a job and takes care of her other kids whose dad is a bum and doesn't pay child support but yet they all live off of my dads money which is suppose to come to me but I don't get a cent out of it. I work six days a week and earned a manager position at my job, I've held this job for two solid years. Just thought I would post to kinda vent and maybe receive some praise for the things ive been through and done, seems like nobody gives a fuck about me. How are other guys my age doing? how much money do yall have saved up? + +&#x200B; + +edit: I don't live with my mom, I live with my grandparents who she also lives with currently. +My name is Nick Timiraos. I'm a WSJ reporter covering the Federal Reserve and U.S. economic policy and author of Trillion Dollar Triage, my book about the economic-policy response to the pandemic. + +I started reporting for the Journal in 2006 about U.S. housing and mortgage markets. + +This year, I've been reporting on [the U.S. economy's 40-year inflation high](https://www.wsj.com/articles/can-central-banks-maintain-their-autonomy-11661525673) and the ways the Fed is trying to fix it [without raising unemployment](https://www.wsj.com/articles/inflation-jobs-fed-recession-economy-11650294297). I've interviewed [the Fed chair](https://youtu.be/BwYrbCG_C_U) and [former Treasury Secretary Larry Summers](https://www.wsj.com/live-qa/breaking-down-the-us-economic-outlook-with-larry-summers/BB75F38B-A4D8-478B-9959-FF6FB68D80D0).  + +I'm fresh from yesterday's press conference following the September Fed meeting and ready to answer your questions about what lies ahead for the central bank and the U.S. economy at large. + +PROOF: https://i.redd.it/gwcs5kyaubp91.jpg + +UPDATE: That's all the time I have for now. Thanks for all the great questions. + +I’ll also be hosting a live reader Q&A session with Larry Summers and Minneapolis Fed President Neel Kashkari on Tuesday, 9/27 at 1pm ET. You can submit your questions for the panel and watch the conversation here: https://www.wsj.com/live-qa/the-economic-outlook-with-larry-summers-and-the-fed-neel-kashkari/36F3D235-F312-44B3-92D0-443D93D4CE09 +New Jersey fined Uber $649 Million for Saying Drivers Aren’t Employees. New Jersey has demanded that Uber pay $649 million for years of unpaid employment taxes for its drivers, arguing that the ride-hailing company has misclassified the workers as independent contractors and not as employees. + +A audit uncovered $530 million in back taxes that had not been paid for unemployment and disability insurance from 2014 to 2018. Because of the nonpayment, the state is seeking another $119 million in interest. + +&#x200B; + +[https://www.nytimes.com/2019/11/14/nyregion/uber-new-jersey-drivers.html](https://www.nytimes.com/2019/11/14/nyregion/uber-new-jersey-drivers.html) +I've been a member of this subreddit for quite a while now. I think the member count was still 25-30k or something. In that time, I've noticed some changes in the post quality. + +Observation #1 + +Earlier, any personal related query used to be strictly confined to the pinned thread in the subreddit that gets updated every few days. Earlier, some of my personal posts were actually not published because a sentence in the post made it a personal query. But now, I see personal, very individual queries as standalone posts. The very same post is posted in thread as well, which feels like spray-and-pray kind of an approach. + +Due to so many individual advice posts, more general queries are getting lost in the crowd. + +&#x200B; + +Observation #2 + +The quality of questions - + +1. Some of the questions that are being asked here have such a factual singular answer, that it could be easily answered through quick internet search +2. Some questions can so mainstream beginner level that it can be answered through reading wiki (this is a grey area though... sometimes, these beginner level questions have certain nuance, but I'm referring run-of the-mill 'I'm X years old and an investment noob. How do I get started?') +3. Other questions are so close in context to already active questions, that they could have been avoided (and just added to available threads or comments) + +These recent evolution have, at least for me, resulted in me spending more time separating wheat from chaff. I just wanted to open a discussion to see if we can figure out a way to streamline and consolidate. + +I was an early adopter of Quora as well. The quality of material there was AMAZING back then and I contributed a lot. But, as the adoption grew, the quality of question degraded drastically and I left the platform. I suppose the S-curve of adoption and quality is true after all. + +I want to see this community grow, but it is difficult to engage when I'm spending too much time to search for meaningful, non-redundant conversations. + +If I'm the only one who thinks this way, please downvote and ignore. Otherwise, let's see if we find some ways to further streamline the subreddit! + +&#x200B; + +EDIT: Based on some comments, it seems the interpretation is that I'm being critical of beginners' posts. That is not the case. + +Let me lay bare my thinking process. I'll have to introduce few concepts: power law, collision theory, and spillover effect + +&#x200B; + +* **Power law** is apparent everywhere when it comes to forums. Where people think the distribution is normal, it is actually exponential - + * How many 'experts' do you think we have in the subreddit? Just survey the frequent commenters and you'll get a picture. In this 101k member list, I would estimate it to be 50-100, and that might very well be higher + * The growth of this subreddit has been exponential recently. I'll assume the #expert joining among them would be very small + * Compare that with the number of beginners (and, hence, the number of posts) we will have on the subreddit + * You are already seeing the effect. Number of comments in the available threads are increasing. Many of them are same questions in different dressing. The 'expert' cannot answer the same question every time. So, there has to be a solution to that + * Add to this some low-effort and lazy questions. Adding noise to the overall thread + * With so many queries and so few of those who answers, you WILL see lower rate of replies +* I'm using **Collision Theory** in a loose sense + * Frankly, not all 'experts' are coming here with a single mind focus to help people out. They are also coming to learn more + * Now, if they have a time budget for both (learn and help), they WILL adhere to it, irrespective of amount of material on subreddit + * Now, they will engage in X capacity, whether there's 2X need or 100X need. Only few will be lucky + +But, if they have to work hard to search for 'learn' component from all the posts, they will no longer think it is worth the effort. This is a delayed and second order effect of increased number of posts. + +* **Spillover effect** of perception says that if signal/noise is decreasing and learning opportunities are going down for them, maybe they will look for greener pastures + +Everybody loses in long term due to all the noise and repetitions. + +Beginners will have to help 'experts' so that they can do the same. + +\*'expert' is in quotes because I'm using it in loose sense - Someone who has been on this subreddit for a while and learned through osmosis here and through her/his own research +So basically I googled ‘wa lithium license’ and this is what I found, https://www.wa.gov.au/system/files/2022-08/IR-F09-Application-form-Works-approval-licence-renewal-amendment-registration.docx +I figured a we could get a lawyer to fill it, then we get a section somewhere in WA to go hunt, digging. + +Basically just figured I’d see how many of you degenerates would be interested in joining the expedition, of course it will be hot and dusty and will eat fuck all and drink a lot, sleep under the stars and basically dig 24/7. Kinda of similar to that Zac Efron movie. +Paid off my $1.3 million dollar home, making me Mortgage Freeman. Took me just under 4 years. I’m pretty proud of myself. I have no one else I can tell. Keep grinding people. + +Edit: fellas changed to people + +Edit: My first award! Thank you kind stranger! +Because I know most people in here aren't seeing the big picture with Ethereum on a protocol level let's go over a few (very) important things coming in the near future. + +Metropolis (Ethereum 3.0) - This upgrade is slated for Aug/Sept and will be the first upgrade since Homestead (Ethereum 2.0) from early last year and for reference Frontier (Ethereum 1.0). Metropolis will bring with it some huge upgrades. + +Raiden - Currently Ethereum can process a max of 15 transactions per second, Bitcoin can do about 7. This is nowhere near what Visa does at 40k/tx per second. You've heard of Bitcoins lightening network which will enable Bitcoin to do infinite tx/sec? Well Raiden enables the exact same thing on Ethereum by creating what are called "Payment Channels". Not gonna go into too much detail but it's like Bob and Carol agree to put a $100 deposit into an account and write notes saying one or the other owes $x amount, then on a predetermined day one of you squares up the account by making one large transaction on the Ethereum blockchain. + +ZN-Snarks - You know how your friends tell you Ethereum isn't anonymous like Monero or ZCash? Well ZK-Snarks will enable you to selectively make transactions public or private. It's the same standard used for ZCash but implemented on the protocol level on top of Ethereum. This is a big part of Enterprise Ethereum Alliances road map which is why JP Morgan is working with ZCash to implement it into Quorum (JP Morgan private Ethereum Chain) as well. Ethereum is basically taking all the best features from other coins and implementing them. + +Ice Age - Currently, there are ~93 Million ETH circulating with 5 ETH created every 15 seconds (15% annual inflation) during the last upgrade (Frontier) there was an "Ice Age" coded into Ethereum which would slow down the creation of ETH on a curve that would eventually freeze up Ethereum. The reason for this was to force the developers to finish up Metropolis before the network froze up. One side effect of the ice age is that the creation of ETH slows down thus reducing the rate of inflation but also increasing the transaction time. We're beginning to see the first effects of it and by August it'll be 5 ETH created every ~30 seconds. + +Casper - Shortly after Metropolis, Ethereum will release the actual figures for Casper as well as the first of 5 phases which will move Ethereum from PoW (Proof of Work) using mining rigs and computers to approve transactions to PoS (Proof of Stake). What happens with PoS is instead of miners running all the time, you will have people holding ETH "Stake" their ETH and basically lock their ETH up in a smart contract while running software on their internet connected computer. In return for locking their ETH up, they will earn interest on it at an undermined rate (figures Vitalik has floated around varies from 6-12% annually). Not everyone will be able to stake, Vitalik has stated that the inflation rate of ETH will drop from 15% currently down to 0-2%. With basic supply and demand math you should be able to figure out what that means for the price. + +Casper is a major reason people are stocking up on ETH. Imagine if in 1 year you could lock up 1000 ETH and earn 120 ETH per year? If the price is $1000/ETH you're talking USD $120k annual without selling any of your original ETH. + +Edit: some typos, was writing on the treadmill. +**EDIT 2: See top comment chain from the mods. I'm satisfied and thank them for their diligence.** + +Original post: + +Constantly seeing the *thetagang* feed being flooded with 80%, 300%, 2,500% gains. Not only is that blatantly ex-WSB bros upset that they can't get their sweet karma on that cesspool anymore, but there's also almost never an explanation of a strategy that was used. + +"Long Tesla" is not a theta strategy. + +"GME $800 puts" is not a theta strategy. + +Can a rule be added similar to "positions or ban"? Positions & strategy or the gain posts get removed? + +**EDIT:** + +* It doesn't need to be long or complicated. Even "Mostly sold 20-delta CSP's on RKT" is fine. +* For those saying "but I use other strategies too!" and "but it's all *options!"*: would you go into r/BMW and post about your Audi saying "but they're both *cars!*". No. That would be ridiculous. Of COURSE we also use other strategies or made 600% on TSLA or hold long stock positions. This isn't r/optionsgang or r/investinggang, it's r/thetagang. Let's keep it that way. +http://www.philly.com/business/a/john-bogle-dead-vanguard-obituary-20190116.html + +The Godfather of indexed mutual funds and a legend in the industry. RIP Jack. + Over the past month or so, analysts have consistently called [Beyond Protocol](http://beyond.link/) the next top three coin. Examples include [Crypto Rick](https://www.youtube.com/watch?v=0U4Dk-rGRkc), [Satoshi Sean](https://www.youtube.com/watch?v=IH1N6KWSShA), and [KIFS Crypto](https://www.youtube.com/watch?v=WLHgVep3tcI). Although a lot to consider, I generally agreed. This is a team from Stanford, IBM, Cisco, Amazon buoyed by Hollywood execs (it shows in their insane marketing; check out [this](https://www.youtube.com/watch?v=1txFf7Cv8K8) overview video). They are solving a big problem: devices in the future will need to pay each other digitally. The Gartners of the world have said there will be more transactions between devices than humans. + +Then I watched an [interview](https://www.youtube.com/watch?v=FCt0R3N9uC4) with the CEO Jonathan Manzi and Tijo Bear. It’s long -- 38 minutes. While I was watching it, it dawned on me that Beyond Protocol will be bigger than Bitcoin. + +Devices don’t need just to be able to pay each other, they need to be made secure so they can open up to the world. The world can then develop on top of them. Beyond Protocol has built a frictionless technology which can be adopted with one line of code which makes spoofing -- the biggest pain point in cybersecurity right now -- probabilistically impossible. They do this by leveraging hardware signatures and distributed ledgers. Manzi explains it in less than 45s in [this](https://twitter.com/FlameCryptos/status/1404846333861765122) video tweet (watch it, everything will click!) + +What Beyond Protocol has built does two critical things. + +First, it makes devices secure for the first time. Now secure, they can open up. And now developers can build applications on top which unite them. Just from a smartphone, Apple’s App Store brought us applications which changed the way we live: Uber, Instacart, etc. Beyond Protocol’s Mega App Store will allow developers to build apps on not just an iPhone, but literally every device in the universe. + +Second, it allows devices to pay each other. And the “pay each other” part can get really nuts quickly. It can be autonomous vehicles paying each other for priority in a traffic grid. Or, it can be simply microtransactions which represent the amount of energy expended for a secure message to be sent between devices. Beyond Protocol is literally building the new Internet for devices. They are doing what the biggest companies in the world have tried to do in business consortia over the past decade but failed due to the battle of egos that always goes on -- one company trying to gain dominance over others. Beyond Protocol is opening a can of whoop-ass on all that. They’re going all open-source protocol, just like ARPA when the internet was started, and they will win. Don’t bet against an idea which time has come. + +I am a proud member of their Street Team by the way. I will do my best to answer any questions you might have. Some resources below (posted from their Telegram): + +**Project Resources** + +* Website: [https://beyond.link](https://beyond.link/) +* Overview: [https://docsend.com/view/upvdx52](https://t.yesware.com/tt/aed21ab06ca24fc63982391bc4ed65bd473053f8/d23ff61e3d1130a193936fdabbf873ae/d17006a780aa537bd6eb3bd5557561a9/docsend.com/view/upvdx52) + +**Technical Resources** + +* Whitepaper: [https://docsend.com/view/si72wby](https://t.yesware.com/tt/aed21ab06ca24fc63982391bc4ed65bd473053f8/d23ff61e3d1130a193936fdabbf873ae/34ec60331652c9fa9229cf23e041693a/docsend.com/view/si72wby) +* Technical Overview: [https://docsend.com/view/bujtxem](https://t.yesware.com/tt/aed21ab06ca24fc63982391bc4ed65bd473053f8/d23ff61e3d1130a193936fdabbf873ae/322da09cfa7d9122c41049bd96273ccf/docsend.com/view/bujtxem) +* Technical Roadmap (2021 Q2 update): [https://docsend.com/view/xu3zgbf6gtbvyfse](https://t.yesware.com/tt/aed21ab06ca24fc63982391bc4ed65bd473053f8/d23ff61e3d1130a193936fdabbf873ae/1694620ec8820ffba91c540e237ef9f1/docsend.com/view/xu3zgbf6gtbvyfse) + +**FAQ** + + +*Q: Do you plan to ICO/IEO?* + +A: To fund our project, and to seed our cryptocurrency, Beyond will sell its tokens from time to time ahead of a public listing. To date, Beyond has sold 4.96% of its token supply to project backers and allocated 6.07% to advisers. Beyond last sold its tokens in a private sale with a market capitalization of $100,000,000.00. + +*Q: How can I buy Beyond tokens?* + +A: We have sold tokens to-date in a private pre-sale to parties which we believe can help advance our project as partners. For inquiries related to this, kindly see the pinned post in our Telegram group. Telegram group link on website: [https://beyond.link](https://t.yesware.com/tt/aed21ab06ca24fc63982391bc4ed65bd473053f8/d23ff61e3d1130a193936fdabbf873ae/0376a14814c50b49c2f2b2d917de24a8/beyond.link/) + +*Q: When do you plan to launch?* + +A: Beyond is in stealth mode. We plan to unveil key partnerships in Q3 2021 ahead of a token generation event (TGE). + +*Q: Who are your key advisors?* + +A: Some of our advisors include: + +* Anoop Nannra (Global Blockchain Practice Leader at Amazon; Formerly: Global Head of Blockchain, Cisco) +* Stephen DiFranco (Former SVP/GM IoT, Broadcom) +* Brian Forde (Sr. White House Advisor to Obama; Co-Founder Digital Media Initiative, MIT Media Lab) +* Greg Silverman (Co-Founder/CEO of Stampede Ventures; Formerly: President, Warner Bros) +* Brian Weinstein (President/COO, Bad Robot) +* Peter Boni (Managing Principal, Kedgeway) +So is this true? He owned a house with his partner and couldn't afford to pay for it by himself when they split up so they sold up. He is living with parents now and paying into a LISA with the aim of buying again as "first time buyer" in a a few years. + +I'd not heard this before and when i questioned him he said he wasn't sure on the timeframe off the top of his head, and I couldn't find anything about it when Googling. He stands to lose money in a LISA or have it locked away for a very long time if this isn't correct. + +ITT: Virginity analogies +I've been reading quite a bit about 2022 projections...conflict of rising interest rates vs. economic progress/reopenings. However, the recent volatility in the market has already probably priced in some of the interest hikes. + +Personally, I have some big purchases in about 2 years time that I do need cash for, so I'm debating whether I should pull out some of my riskier investments into a HISA or cash. What are people thinking about how to market will fare? What're your strategies to mitigate risk? Thanks! +Is there literally no regards to laws anymore, completely? Is nobody looking into this? Isn't this signaling a lot of red flags? Is this absolute fuckery, at the highest degrees possible happening right now? + +When do you see people religiously buying, DRSing and holding to a stock, while the value of that stock doing the exact opposite of what is supposed to do? It's exactly inverse to the basic law of supply and demand. + +Is literally the life for the average person about being shat on by the wealthy on all angles? +Thinking cap on: for a market misperception to make sense, there needs to be a broader expectation by the market that in the long run, the market will perceive things accurately. There needs to be some sort of trust in the market as a long run weighing machine. Hypothetically speaking, you put enough GME apes in, and you no longer have that, with hedge funds fueling the fire to get their own bag. A [WSB sentiment ETF is even beating the market.](https://getquantbase.com) (which I think is pretty brilliant tbh) + +Now, I still firmly believe in value. But for me, what it would take to say it's dead is probably another two to three years of what's happening right now. At that point, high risk investing is no longer a fad (would be about twice as long as tulip-mania) and the "investors" that entered the market to make a quick buck and then got burned, still have their loss porn communities to come back to and start again. Is this all a naive take? Would love to hear some intelligent discussion. +I don't know the numbers or degrees, but I know that economic downturn certainly harms human life, and isn't just 'about the money'. Unemployment raises death rates for sure, right? And I'm sure other people die due to decreases in goods and services available. It's also not like quality of life counts for nothing, and bad economic times clearly hurt quality of life for many people, and may also shorten life expectancy for some. Long story short: Depression also bad, yes? + +So, it seems clear to me that our actual goal is to balance the interests - preventing the disease from harming people, and preventing the economic contraction from harming people - in the way that does the least damage overall. How is it more 'compassionate' to ignore the consequences of the economic component, when it does real damage as well? + +Am I missing something in this reasoning? And if not, do we have some vague idea about where the balancing point is in all this? +[https://en.wikipedia.org/wiki/Towards\_a\_New\_Socialism](https://en.wikipedia.org/wiki/Towards_a_New_Socialism) + +The book outlines in detail a proposal for a complex planned socialist economy, taking inspiration from [cybernetics](https://en.wikipedia.org/wiki/Cybernetics), the works of [Karl Marx](https://en.wikipedia.org/wiki/Karl_Marx), and British [operations research](https://en.wikipedia.org/wiki/Operations_research) scientist [Stafford Beer's](https://en.wikipedia.org/wiki/Stafford_Beer) 1973 model of a [distributed decision support system](https://en.wikipedia.org/wiki/Decision_support_system) dubbed [Project Cybersyn](https://en.wikipedia.org/wiki/Project_Cybersyn). + +[https://www.reddit.com/r/badeconomics/comments/31k18o/planned\_economies\_work\_and\_market\_economies\_dont/cq2c0fg?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/badeconomics/comments/31k18o/planned_economies_work_and_market_economies_dont/cq2c0fg?utm_source=share&utm_medium=web2x&context=3) +u/TheCowardMcCall i present to you your newly knighted tendie overload bear. I was getting some serious boomer death stares wandering in here with KFC and taking photos with it so you cucks better appreciate it. + +u/StinkyFatWhale your bear has been released back into the wild, might wanna get a refund. + +These little shits are much like the ASX, dont do anything after 11am, sleep all day, and makes me wonder why people invest so much into something so dumb it can only eat one type of leaf and be high all the time. + +For all the others who have spono'ed a bear today, soz didnt see them until now, im not going back anytime soon, will end up on some sort of CrimeStoppers list. + +https://preview.redd.it/wxoybmkc84n61.jpg?width=2000&format=pjpg&auto=webp&s=07abcced3a3bfd0858b0ddeb7be59bffbcea8e7d +Being that most of this sub is just a rate my portfolio thread, it seems you guys dont know how to construct one from scratch. Im by no means some financial overlord but I do work in the industry and I think I can give you some guidelines as far as how to assemble one instead of just asking a bunch of other people (who also have no idea what theyre doing), so lets get started. + +&#x200B; + +First, this is only going to cover the equity portion of your portfolio - most of you seem to be 19-29 so you shouldnt have bonds anyway. Keep enough cash to sleep at night but I wouldnt suggest bonds for you youngins quite yet, especially since they yield basically 0 at this point. + +Second, these portfolios are fine for your trad, roth, or individual account. They are supposed to be long term investments; you want day trading go somewhere else. + +Third, you guys are the least patient group of people ever. A few months ago every thread was just stanning the ark funds being like 100% of your portfolio then as soon as they go down you post about value funds, dividends and even bonds, LMAO! If you have conviction in your strategy you just DCA into all your funds. The corrections are just when things are on sale. Nothing of note has changed with ARKs style, approach or management team other than minor analyst turnover, so if you liked them in December, you should like them just as much now. + +Fourth, lets touch on international stocks. Over long periods they do not seem to outperform US stocks. However, they can be uncorrelated so you CAN decrease volatility in your portfolio with increased diversification. Just know you might be sacrificing a bit of long term gains. Now, theres no scientific reason why me, you or anyone can say that they're CERTAIN that US stocks will outperform foreign over the next 40 years, so you can have intl exposure if you want to, I personally dont have any but up to 25% I think is ok. 40% like some target date funds I think is too high. + +Fifth, none of these percentages are concrete. People like to think in 5s and 10s so these are just some general starting points, it doesnt matter if the prices of the ETFs and the value of your portfolio only work out to 7s and 13s, its fine. + +Sixth, I used mostly Vanguard ETFs for these, but any equivalent is probably fine. Theres not much difference especially in indexes, pick invesco, schwab or fidelity if you want. + +Seventh, QQQ is pretty popular and the idea of using that instead of VOO is pretty interesting, something to consider if you want, but I dont have strong enough conviction to say its objectively better and using a crazy 10 year tech run might not be the best advice, but I dont think its bad advice either. + +Eighth - Be careful when looking at historical returns presented as "evidence." Most people would say that going back 1 month proves nothing, same with one year. But what about 5 years? 10 years? is a 20 year sample size good enough? Ok, you're going all the way back to 1926? Wouldnt the last 20 years be more indicative of the current market than when people were on horse and buggy? There's no concrete cut off date when the sample becomes large enough but the super small and super large samples both seem silly to me. There are some trends that you might be able to pick up on, but be careful when people just throw out some of these and use it as fact for their whole investment thesis. The people who shouted value in 2015 because growth just had a crazy run, valuations were high and value tends to outperform over the long term have been absolutely buttfucked by growth bulls the last 5 years. Its fine to have a tilt, but try to have a portfolio that will do ok even if you're wrong. + +Ok, enough qualifiers, lets do this. + +Portfolio 1 - I dont know anything but I want to invest + +VT - 100% + +You get max diversification and minimum volatility by investing in the entire earth. You only have to worry about buying one thing the rest of your life and you're probably going to outperform your robinhood trading meme moron friends. This is fine and if you just want maximum simplicity and getting one etf the rest of your life prevents you from impulse trading just do this for 40 years and youll have a nice juicy net worth when you're old. + +Anything beyond this you are basically weighing certain things that you think will outperform (for example, I think VTI will outperform VT over 10, 20, 40 years etc. However, I am being more specific by buying only US stocks. This has some risk, albeit small imo. Because its added risk, you have a chance of outperforming and a chance of underperforming. As the portfolios get more complex, we will be specifying more, adding more risk, thus more chance to outperform and more chance to underperform. + +Portfolio 2 - I want to control my ratio of US and intl exposure, but I'm still very new + +VTI, VXUS - any % you want + +VT is 60/40 which I think is WAY too much intl so you can make it 85/15 or 90/10 or 50/50, whatever you want. If youre really feeling frisky, you can split VXUS into VEA and VWO (developed and emerging markets) but just VXUS is totally fine. + +&#x200B; + +Portfolio 3 - Differentiating by market cap + +VOO, VXF or VOO, VO, VB + +The general VTI is about 72% large cap, 24% mid cap, 9% small cap. Mid and small caps tend to outperform over long periods while also being more volatile. This makes sense because a small company can 10x easier than a huge company like JNJ or JPM can. However, they are generally less proven, tenured, have less cash flow, more debt and less market share, so they can bust more easily as well. Personally, I'm a big proponent of having a larger weight of smalls/mids than the general VTI. You dont want to cut out the big dudes entirely (who wants to miss out on the faangs?) But having a bigger weight than 25ish % *could* give you more long term gains. + +&#x200B; + +Weighting Growth vs Value. + +These portfolios are a bit more complicated since I separated market cap size as well as value vs growth etfs. Key point is I would high recommend having some of each, not going exclusively one or the other. + +Portfolio 4 - Value bent, conservative + +VONV - Lg value 25% + +VUG - Lg growth 25% + +VXF - Smids 15% + +VIOV - Small value 10% + +VFQY - Quality factor 10% + +VIG - Dividend Appreciation 15% + +Small cap stocks and value stocks have outperformed historically so if you want to mimic that you can add quality factor, extra small value weight and VIG (div appreciation is companies that continuously raise their dividend, meaning they have the balance sheet stability to do so, usually more solid companies). You can alter the weights any way you like + +&#x200B; + +Portfolio 5 - Value bent, aggressive + +VONV - lg value 20% + +VUG - lg growth 20% + +VXF - smids 20% + +VIOV - small value 20% + +VBK - small growth 10% + +VFVA - Value factor 5% + +VFQY - Quality factor 5% + +This goes heavy into small caps and has 2 factor based funds. I'd say this is about as aggressive as a growth/tech bear can be. + +&#x200B; + +Portfolio 6 - Growth bent, aggressive + +Tech companies have huge margins and much lower overhead, theyve dominated and going against them seems wrong to you. Legacy banks, brick and mortar stores and consumer staples are not where the money is going. The internet is here, the future is now, to the moon baby! + +VUG - lg growth 40% + +IVOG - mid growth - 20% + +VIOG - small growth 10% + +VIOV - small value 10% + +VOE - mid value 15% + +VFMO - momentum factor 5% + +&#x200B; + +Portfolio 7 - Tech Bull, very aggro bro + +VTI - 50% + +VGT - Tech 15% + +ARKK or ARKW - Mrs wood sitting on your face 15% + +WCLD - Cloud computing 10% + +VWO - Emerging markets 10% + +&#x200B; + +Portfolio 8 - I just did molly, make me a 'folio dude - a hyper aggressive portfolio which I think is a bit excessive but not necessarily bad. + +VTI - 40% + +ARKG - ARK genomics 10% + +ARKW - ARK internet 10% + +WCLD - cloud computing 5% + +IBUY - online retail 5% + +BETZ - sports betting 5% + +HERO - Video games/esports 5% + +VWO - Emerging markets 5% + +VFMO - momentum 8% + +GBTC - Bitcoin 2% + +&#x200B; + +&#x200B; + +Hopefully these give a decent view of how to modify or deviate from just VT or VTI/VXUS. Theres nothing wrong with those, but they aren't guaranteed to be the best either. And if you want to be uber aggressive, thats fine, most of you are like 19. Just do it in a measured way and stick to the strategy for years, dont switch it up every 6 weeks, DCA for a decade and you'll all be fine. +Just wondering how many people are still doing the grind after making enough to retire (or close to it). I figured it would be really low, but after talking to a couple I found that wasn't necessarily true. + +For those of you that aren't crypto-millionaires, how much money would you have to have to consider quitting your day job? +My AP Econ class is exclusively Keynesian, but there are tons of notable economists like Friedman, Sowell, and Hayek from the Austrian and Chicago schools. Are those schools valid? + +If so, then why aren’t we taught Austrian or Chicago theory by College Board? +Hello! + +I remember starting at bitcoin a few years ago. When bitcoin broke single digits for the first time, I thought that was a triumphant moment for bitcoin. I watched and admired the price jump to $15.. $20.. $30.. wow! + +Today, I see $17,539 per BTC. I still don't believe reality sometimes. Bitcoin has changed my life, and I have far more money than I can ever spend. My aims, goals, and motivations in life have nothing to do with having XX million or being the mega rich. So I'm doing something else: donating the majority of my bitcoins to charitable causes. I'm calling it 🍍 The Pineapple Fund. + +Yes, donating ~$86 million worth of bitcoins to charities :) + +So far, The Pineapple Fund has/is: + +* Donated $1 million to Watsi, an impressively innovative charity building technology to finance universal healthcare. + +* Donated $1 million to The Water Project, a charity providing sustainable water projects to suffering communities in Africa + +* Donating $1 million to the EFF, defending rights and privacy of internet users, fighting for net neutrality, and far far more + +* Donated $500k to BitGive Foundation, a charity building projects that leverage bitcoin and blockchain technology for global philanthropy. + +If you know a registered nonprofit charity, please encourage them to apply on the fund's website! While I prefer supporting registered charities, I am open to supporting charitable causes as well. Check out the website :) + +# 🍍 https://pineapplefund.org/ + +All transactions are posted on the website for full transparency :) + +----- + +edit: **Pineapple Fund does not donate to individuals. Please do not post your addresses or PM.** + +edit 2: Thanks for the gold! Highlighting new comments is a really useful feature <3 +I'm a guy in my early 30s and just sold my startup for over $50M. The money hit my account today. + +I've always loved to travel. I previously spent 3 years of my life backpacking, just hopping between hostels around the world. Last year, I was invited to spend a week at the Cheval Blanc in the Maldives and it was a truly eye-opening experience, the first time I got to experience real luxury. + +I'd really like to start my retirement with a bang. What FAT destinations can you recommend? And perhaps more importantly, which luxury travel advisors? + +&#x200B; + +UPDATE: + +Whoa, I didn't expect such massive response. This has been super helpful. + +I especially wanted to thank /u/CupResponsible797 for putting me in touch with Berkeley Travel, communicating with the team there has been super impressive. I'll be starting my first trip with them in just a couple of days. +38, ~$1.5mm NW, LCOL, wife stays home with 3 young kids + +Take the red pill: $550k/yr fortune 100 VP; likely could plan for 15 year run as a VP to fatFIRE by 53, somewhat likely I could get to SVP or C-Suite with commensurate increases in salary over next 5 to 10 years. Live in same city as corporate headquarters, not a ton of travel required. Good boss and mentor in the company and perceived as “top talent.” Anything could happen of course but feel pretty confident about this. + +Take the blue pill: $750k/yr at C-suite. Pre-IPO international co recently expanded into US. Exit expected w/in 4 years with $1.5mm payout (conservative estimate). If this happens would expect no problem finding next role. + +Wwyd? Why? Thanks! + +EDIT: Wow, thank you all very much - it’s like a chorus of mentors (and some trolls). A couple of comments: staying put (red pill) would be easier on the family. Jumping ship opens a wider range of outcomes - I could hit my number sooner or not...at the cost of a few really important years with the kids. + +It’s not a start up, but it is pre-IPO. The comp and equity likely don’t make sense because (1) the equity is a conservative estimate and (2) I’ve negotiated the annual comp up. + +I recognize now I should have reversed “red” and “blue.” I haven’t watched the Matrix in 20 years. + +Thanks again internet mentors. +This will be pretty long, so apologies for my A.D.D bretheren and sistren out there. + +So after seeing this recent influx of new investors we've had and what seems like a large amount of people throwing money away by getting burned following pump and dumps, being the empathetic cunt I am I thought it would be a good idea to create a thread where we can dive in a little bit to our own (basic) DD processes for finding companies to invest in. + +Note I said INVEST IN; i.e hold for more than a week at a time without being impatient. I know that might be against the "spirit" of this sub, but there's nowhere else on Aussie reddit where we can talk about a balance of trying to get growth without boring cunts telling you if you aren't putting all your money in a white bread boring ETF, you're basically acting like Scarface with a mound of cocaine. + +And yes, we know, "i JuST pIcK tHe sToCK wItH ThE MoSt rOcKeTs hAr hAr 🚀🚀", but if you legit just want to keep throwing your money away then by all means - it's your money. + +Note this is going to be more on the surface level, not going into things like Technical Analysis (TA, aka dissecting graphs, also aka "reading tea leaves"), and more about what are good tools out there, what are useful metrics to know about companies to try balance safety vs. rockets, and where to find them, etc. + +Again, this is just how \*I\* do it to try and find stuff that's still fun enough/good returns while not just being joke gambles, and note I'm not saying I'm either some badass investor multimillionaire or a professional advisor. + +My intent here is influenced by my own wasting money/being a dumbass a couple of years back, just like you guys are now, and buying into shit like BRN too high at peak meme level and being left bag holding - which is literally what I'm aiming to warn you against here so you don't have to go through the same shit. + +So, let's get started with the first things you'll need - the tools. In some ways we're really fortunate to have so many options online nowadays for companies that offer analytics and screening tools for stocks, but in other ways we're not as a lot of them are pretty shit. + +There's really only a couple of things you need to get by in my opinion for initial, screener-level DD, without having to spend hours and hours of your day diving into boring shit. + +**TOOL #1** + +That said, your first stop should be to bookmark this URL: + +[https://www.tradingview.com/screener/](https://www.tradingview.com/screener/) + +I've tried pretty much every other tool out there online, and only **Tradingview's** screener offers the best combination of: + +* Free +* Quick/responsive UI +* Excellent range of filters +* Works on most devices +* Has Dark Mode so it doesn't burn my eyes (personal preference) + +It's worth just making a Free account so it can remember your preferences etc.; I don't see any reason to pay them money for the basic needs, but if you want more advanced stuff feel free. + +This tool provides pretty much every listed company on every major exchange in one spot; since we're here to lose money on the ASX though, you just toggle the little "flag" icon on the top right to Aus, and you're ready. + +**THE FILTERS** + +Now, this will depend on a lot of things regarding your personal investment "strategy" and risk tolerance, but bear in mind the whole point of filtering is to exclude shit companies that have crap figures that make them less safe - or at least have growing revenue if you're after specs. + +If you're after the pure gamble route of chucking money onto a company that people are hyping based on raw sentiment in the hopes of fluking a multi-bagger (aka a stock that goes up several hundred %), then you should probably leave this thread and go into the daily and chase whatever Pump and Dump is being pushed today and hope you get lucky. + +You literally might as well just go bet on a horse with this "strategy" and forget the stock market. + +For me PERSONALLY, what I try and look for is stuff that walks the line between Boomer (yawn) and Rocket (gambling). + +That is to say, stuff that isn't going to be a snoozefest ASX200 company (with some exceptions) and gain you Ausfinance-like 10% max gains per year, but also not dogshit that makes no money and relies purely on media coverage or social media bandwagon crap that will die as soon as the hype dies down and leave you holding worthless bags. + +The goal *FOR ME PERSONALLY* (get the idea yet?) is to try and find stocks that end up with gains within the 50%-80% range... any higher, awesome what a bonus; any lower, and well as long as they end up around the \~20% gain mark then you're still pissing on pretty much any other mildly safe spot to put your money into in the current climate. + +So, some metrics to become familiar with - + +**Price to Earnings (P/E ratio):** yes, I know this is to ASX\_Bets what kryptonite is to SuperAutist, but it's one of the most basic figures to determine at least one main aspect of a company's general value relative to the share price. + +It's also good because it can literally scale with your risk tolerance; if you want riskier stuff, then just scale the P/E ratio higher. Of course, this doesn't work for spec stuff that doesn't actually *have* a P/E ratio; in those cases, I tend to use **Commsec** or a similar tool under "Company Financials" to look at the yearly revenue and see if it's at least trending up as a substitute. + +When most analysts out there say that "the stock market is currently overvalued", they are typically looking at its total P/E ratio. In this case, higher = more and more overvalued, and basically, "risky" a company is. + +At the moment, there are 1799 ASX companies listed on Tradingview in total; if I put in a P/E Ratio of Below 30 into its filters, that number quickly drops to 321, which is a good initial sign about how many companies aren't earning decent coin relative to their listed price. + +Totally depends on how risky you want to go, and the lower the number generally the lower the "rocket potential" will be (but still not always). + +**Return on Equity (RoE):** literally, shows how much income they made vs. the amount the shareholders own. Again it's a nice way to show how well a company uses the investments they get to make profit. The higher = the better they are at making money from equity. Let's set this to a minimum of 30 for the sake of this discussion. + +**Performance - yearly:** this is how what I try and do differs from "value investing" a.k.a pure Warren Buffet style Boomer stuff, which traditionally tells you to find stuff that has been down and in the red for the past X amount of time but is actually worth more, buy in and be patient, blah blah. + +I prefer to look at stuff that has been in the green over the past year as a sort of 'sentiment filter'; I just set this to "greater than 0" personally. + +Here's an example of why the "sentiment factor" matters. Let's take a look at the company **Zimplats (ZIM)** which otherwise almost always scores massively high on filters like this. + +*Edit: at the time of posting this DD guide, ZIM was still wallowing around in negative sentiment. It passed a 'qualified audit' soon after (in February 2021), which turned the sentiment around greatly and the resulting jump in their chart you'll see happened. The overall point still stands, however.* + +Massively profitable, extremely low P/E ratio, continually growing revenue... yet take a look at its performance the past year: + +[https://www.marketindex.com.au/asx/zim](https://www.marketindex.com.au/asx/zim) + +Looking at raw value, you'd think there would be no reason why this company wouldn't be soaring. But because it doesn't have very *positive sentiment*, it wouldn't pass the cut here even if it seems illogical. + +I also like to put 6 month (and maybe even 3 month) performance filters to "greater than 0" as well so you can see stuff still has good sentiment. Let's set this to "Above 0" for both yearly and 6-monthly. + +**So with the filters of: P/E Ratio <30; Return on Equity >30; Yearly + 6 month Performance >0**, we're already down to only 28 companies on the whole ASX! So what next? + +**Market Cap:** in the most basic terms, how big the company is. Not literally, of course, but relative to its listing on the market. You'll see in this filter that what I always call the King of the Boomer Stocks FMG is the biggest in market cap, and to me it's been the default place to dump any money when I couldn't be bothered doing more research over the past year. + +Find me another boomer stock that's returned over 130% AND pays a ridiculous dividend... I'll wait. One of my other babies, Champion Iron (CIA) was also found doing this method and it's returned about 40% since I've owned it. Note that both of these are influenced by high iron ore prices, however they're both rock-solid companies and require less thought to put money in them than to chuck them in a pointless "HISA" bank savings account which is "high" in name-only during this environment. + +But hey, we're not here to be boomers, so go ahead and **Sort that Market Cap column from Low to High** instead and look for some of the smaller companies: + +Now we're getting interesting... but oh wait, it's full of yet more boring mining stocks - if that's what you're after, go for it and then jump down to the next step, but for me I want to click on the Sector filter and get rid of any "Non-Energy Minerals" classification. + +Once we've purged them, we're now left with 15 companies on the whole ASX. Oh, what do you know - there's CI1 which recently jumped up over 100%, nice. Feel free to browse through its Balance Sheet column and have a look at some juicy financials for a small company if you have the time. + +Otherwise, let's use it as the example for the next step, seeing we don't really know much about the company other than these raw numbers. + +The next place you'll want to go is here: + +**TOOL #2** + +[https://www.marketindex.com.au/](https://www.marketindex.com.au/) + +Why? Great site, fast, simple, clean UI. Just search for CI1 in the search bar, and you'll be directed to here: + +[https://www.marketindex.com.au/asx/ci1](https://www.marketindex.com.au/asx/ci1) + +What we want from here is to scroll down to the **Announcements** section, and click on the "Price Sensitive Only" filter so we can see all the most important company public announcements made to the ASX. + +Find the most recently quarterly or half-yearly report, and take the time to have at least a quick scan over the Financials section if you couldn't be bothered reading the whole thing. + +Does it look like their year on year trends are growing? If so, is it decent growth? Is there anything that could be warping the numbers (i.e: did they get an injection of JobKeeper? Did they sell some assets off so it makes their income numbers look better than they actually are? Do they have plans to diversify from mining to uranium-powered dildos?) + +You can learn a lot about a company from a scan of these. + +This is also often a good time to have a look at the **management team**; most company reports will have a cheesy "Our People" section with each of the bigwigs. + +For those in control of the company, it doesn't hurt to have a look at some of the *past* companies they've been involved in and see how they faired. Did they bomb? Were they kicked out or was there some dodgy shit before they left? All worth factoring in. **LinkedIn** can be your friend here as it details past work history. + +If you're still happy, then you may want to go back and **toggle off the Price Sensitive Only filter** and have a look at recent announcements for Insider buy-offs or sell-offs. + +It's not the be-all and end-all, but a lot of people consider it a bad sign if management of the company are continually selling off their slices of ownership - why would they give a fuck if the company does well if they're not fully invested themselves? + +Once you're pretty confident with this, you're probably at the point where you can jump in and buy from your preferred broker; one other nice little thing I sometimes like to do is jump onto Simply Wall Street and chuck the company into their search bar: + +**TOOL #3** + +[https://simplywall.st/stocks/au/commercial-services/asx-ci1/credit-intelligence-shares](https://simplywall.st/stocks/au/commercial-services/asx-ci1/credit-intelligence-shares) + +It's not perfect, but it's a decent "surface level" reinforcement about where the company sits; if their "snowflake" isn't totally red then the company has at least some fundamentals to base your investment on. Again, if you're after companies like Z1P that are trading on PURE sentiment with just revenue and no real path to profitability, they still show up looking pretty badly here. + +One last thing worth mentioning before you finally buy is probably also: + +**Buy/Sell ratio:** the ASX is literally a market, and mostly works on basic supply and demand like any other economy. E.g: the more people want something and the less people willing to give it up, the more likely the price is to be driven up. + +**Commsec (**[https://www.commsec.com.au/](https://www.commsec.com.au/)**)** is the best platform for seeing this in real time imo; you don't need to actually pay to trade *with* Commsec, just have an account so you can see this list. If there's a lot fewer sellers than buyers, then it's *usually* a good sign that it won't be dumped, but this can also change quickly if there's a lot of people jumping on and off (usually happens with the memes posted on here.) + +So, yeah, that's about it - again, you can play around with the filter numbers higher or lower in Tradingview to scale things accordingly if you want riskier stuff, which is fine. + +I just don't see the logic in gambling money into companies that literally can't prove they can make cash yet when there are nearly 2000 companies in total to choose from. But that's just me, cause I am a semi-pussy. + +And that's how I do *MY* due diligence - how about you? +Recently, [I made this post](https://www.reddit.com/r/ValueInvesting/comments/smg7ev/what_are_5_stocks_youd_like_me_to_research/). Later, I followed up [with this post](https://www.reddit.com/r/ValueInvesting/comments/sr24fm/you_gave_me_5_stocks_to_research_here_are_the/). From those suggestions, the 5 stocks this time are: CLF, CROX, INTC, KR, and THOR. The format shall proceed like so: + +* Summary of Operations +* Strategy +* Growth and the Future +* Valuation + +While deeper analysis is possible for some of these, the goal is a concise elevator pitch, in line with what Peter Lynch recommends when making decisions to buy or sell. I included everything that I thought should satisfy a curious investor. **Edit: $1.5 billion in CLF piece. Was a typo.** + +^(Also, should have clarified last time. Each of these valuations assumes a 10% discount rate.) + +# CLF + +**Summary of Operations** + +Cleveland Cliffs (CLF) is a leading, American steel manufacturer. It employs a vertical operation, with enterprises that mine iron ore or acquire scrap metal. These raw materials are processed down the line into steel products, and excess raw materials are sold to other producers. Customers primarily use their products for: + +* Automobiles +* Infrastructure and manufacturing, which includes electrical power +* Distributors and converters +* Other steel production + +Additionally, most of these customers are North American. About 45% of sales are under fixed-price contracts that typically last a year. + +**Strategy** + +Their vertical model makes them self-sufficient among the community of steel manufacturers and gives them a competitive advantage. For example, when the semiconductor shortage reduced automobile production and thus steel sales there, they were able to redirect of their steel volume to other customers. Even so, they experienced a decline in revenues from a major event like COVID in 2020. + +Nevertheless, the recent acquisitions, vertical model, strong relationship with employees, and ability to adapt to new products, make CLF a strong business. + +**Growth and the Future** + +There are many factors to consider here. On the one hand, government spending on infrastructure will directly benefit CLF, and as more of the worlds urbanizes and develops, more of the world will need CLF’s goods. + +On the other hand, loosening of beneficial trade restrictions could let in cheaper steel products and capture part of their market. Increase in fuel costs (they rely heavily on fossil fuels for electrical needs) and the rise of lighter alternatives to steel in auto-manufacturing could depress sales. + +These considerations in mind, modest growth seems possible. + +**Valuation** + +With recent acquisitions, annual free cash flow of $1.5 billion seems possible. + +* Growth Assumptions: 5% +* Intrinsic Value Per Share: $27 + +# CROX + +**Summary of Operations** + +Crocs, Inc. is a producer of casual footwear, mainly known for their product, the “croc,” a clog known for its flamboyantly bizarre appearance, high comfort for the foot, and low cost for the buyer. + +Over the last five years, the company has both grown its revenues and operating margins, with a majority of sales (62%) occurring in the Americas. It sells its shoes to wholesalers, through its own retail stores, and through digital sales (the latter of which experienced significant growth after COVID). Its production is globalized, but most of it occurs in China and Vietnam. + +**Strategy** + +Crocs’s strategy is centralized on the strength of its brand and patents. The recognizable nature of the croc, supercharged with marketing and merchandising opportunities, make it unique in the world of shoe sales. Not very many brands, down to a specific type of shoe, are this well known. The croc is cartoonishly ugly, the kind that makes it fun to wear, as if to say to everyone, “I don’t care about what you like; I care about what I like.” This conceit is further bolstered by the comfort of the shoe and its practicality (waterproof and odor-proof). + +The balance sheet is leveraged to finance growth. Debt-equity is high at 1.94, but the Current Ratio is a good 2.63. Its long-term debt is about $680 million, worth at least a few years' free cash flow. + +**Growth and the Future** + +Crocs is optimistic about its growth. It believes it can *quadruple* revenues by 2026 by focusing on its expanding digital sales, a strong marketing campaign, and deeper penetration of Asian markets. It believes the size of the casual footwear market is about $30 billion with no clear leaders and thus primed for a conquest. + +Owners will benefit from its buyback campaigns. Since 2018, buybacks have reduced shares in circulation by about 16%. + +**Valuation** + +* Growth Assumption: 15% +* Intrinsic Value Per Share: $77 + +# INTC + +**Summary of Operations** + +Intel is the world’s largest producer of semiconductors and computer chips, offering a diversified product portfolio for different computing needs: personal, server, cloud, graphics, Internet of Things and so on. + +In 2021, Intel reported $79 billion in net revenue and about $12 billion in free cash flow. Dell, Lenovo, and Hewlett-Packard account for 43% of their net revenue. By region, China accounts for 27%, and Singapore and the U.S. each about 18%. + +**Strategy** + +With its healthy balance sheet and high cash generation, Intel sustains its own operations without taking on debt or needing to dilute shares. The company uses this cash to expand its manufacturing capabilities, in order to meet the demand of the current, global chip shortage and operate at a tremendous economy of scale. + +Since Gellsinger returned as CEO, he has stepped up commitments to capex and R&D. This caused free cash flow in 2021 to be notably lower, as were the number of buybacks that had been increasing earnings per share the last five years. Gellsinger believes previous management neglected the underlying fundamentals of the company, hurting product quality and the brand. Recently, smaller semiconductor manufacturers have been capturing market share from under Intel’s nose. Still, it retains the bulk of that market and has significant financial resources that competitors do not have, which Gellsinger intends to employ and turn the company around in the 2020s. $20 billion will be spent to develop the largest chip factory ever seen, right outside of Columbus, Ohio (among other projects). + +**Growth and the Future** + +Intel is a solid company, but the growth from these capital investments will take about five years to realize, which lower free cash flow for now. It’s unclear how these will materialize into strong financial results. Gellsinger is right to focus on the fundamentals, and there is certainly demand to fill, but a big “What if?” remains. Can these intense expenditures produce growth for a company that is already quite large? + +The weakening of the brand is the problem. AMD and Nvidia could continue to grow as well and could offset Intel’s gains over the next decade. Where they lack scale, they have quality and are going to be first in line to satisfy chip demand. + +The decline in buybacks is concerning too. While an accounting tactic, it did return value to shareholders. + +**Valuation** + +* Growth Assumptions: 5% first five years, 9% second five +* Intrinsic Value Per Share: $40 + +# KR + +**Summary of Operations** + +Kroger is the second-largest grocer in the United States (also the owner of Harris Teeter). While mainly a retailer for other food producers, it does have its own store-brand lines for some of its products. It also owns many small grocers that operate under their local names. + +**Strategy** + +The business is partly vertically integrated with its own store brands that are either produced by Kroger directly or by contracted third parties to Kroger’s specifications. Otherwise, Kroger mainly sells goods provided by many different brands. Further vertical integration comes from fuel sales on site to make stops more convenient and integrated. + +Otherwise, the company steadily expands horizontally (about 3% compounded growth) by building or acquiring new stores (occasionally acquiring other grocers). Digital sales and data analysis have been lowering costs and enabled Kroger to use its scale to meet customer needs like never before, allowing them to maintain revenues in the face of COVID. + +**Growth and the Future** + +Kroger is a profitable and stable company. Its size, customer appeal, and the perennial need to eat food give it a decent moat to grow steadily over time, but this is unlikely to be a multibagger. Its frequent share buybacks are where most of the returns will come for those who are long on the company, and since it is rarely exuberantly priced, the buybacks are unlikely to be wasted cash. + +**Valuation** + +* Growth Assumptions: 3% +* Intrinsic Value Per Share: $25 + +# THOR + +**Summary of Operations** + +Thor Industries is the largest manufacturer of recreational vehicles (RVs) in the world, mainly through subsidiaries that they have acquired (many of which were in the last few years). It records the operations of its businesses under three segments; North American Motorized (21% of revenues), North American Towable (50%), and European (26%). “Other” operations account for the last 3%, and they mainly sell parts. + +Despite having so many subsidiaries, their approach to them is very hands-off, preferring to let the management work out their own relationships with suppliers, dealers, and employees. Subsidiaries even continue to compete amongst themselves. The nature and purpose of these acquisitions, therefore, is a curiosity. + +The balance sheet is decent but somewhat leveraged. Operating cash flows have grown about 16% per year over the last decade. Much of this is continually reinvested into new PPE or further acquisitions. + +**Strategy** + +Like automobiles in general, RVs are a cyclical and seasonal industry. Factories are typically designed with the ability to increase and reduce productivity in response to demand with flexibility and without much incurred cost. + +Nevertheless, the strategy of this company is the sum of the strategies of its subsidiaries. Thor is not stating any vision of leveraging its size and scale. This is strange, considering the concerns it’s expressed in its risk factors (see annual report) about both suppliers and dealers continuing to consolidate, potentially putting Thor in a vice that could depress its margins. + +The company seems like an investment mogul whose specialty is the RV industry. That’s not bad per se, but returns will depend on the acquisitions being at low cost relative to the earning power of the asset. + +One proactive thing I can see is that their website has a handy interface to match you with an RV product out of their many subsidiaries, based on a handy Q&A feature. They also acquired a supplier called Airxcel in the last quarter, which they hope will meet supply needs, but it’s unclear how much they will continue to acquire with such integration in mind, given their decentralized model. + +**Growth and the Future** + +Much of the company’s growth has therefore been enabled by horizontal acquisitions over the past decade. With the current market share that it has (over 40% in towable and motorized segments), there are not many more opportunities for consistent growth by this method. + +Growth would then depend on an organic rise of the RV market. When you think it about it, there is no way this market should be anywhere close to the one for normal cars. RVs are more akin to luxury items and have narrower uses. While it is similar is in its cyclicality, but COVID had caused a recent and anticyclical spike in demand for RVs, as customers find these products are generally a safer way to travel or have vacations, which the recent regime of lockdowns and social distancing have made difficult or worrisome. + +It’s then a question of if this results in a paradigm shift, where these new customers continue to buy and use RVs well after the pandemic after developing a fondness for them. Otherwise, revenues will plateau or crash in the near future as quickly as they ballooned. Conservative growth assumptions are warranted. + +**Valuation** + +* Growth Assumptions: 7% first 5 years, 0% second 5 +* Intrinsic Value Per Share: $36 +Reading Rich Dad Poor Dad has me all fired up about assets currently. Obviously there’s the stock market, but I’m wondering if 20k is enough to get my foot in the real estate world. I’m aware of the FHA loan I have not used, (I just recently turned 18 and am still in high school) +I guess my question essentially is, if you had to start over with 20k what would you do? +What are some major questions that the most respected economists are working on today? Is there any issue that has two "evenly matched" sides and no true consensus yet? +I've never liked tipping just because plenty of companies make billions from the service they provide, and I think they should be the ones paying more. It's the business that takes advantage of the employees, the customer, and possibly other businesses. This happens with ride-sharing apps, delivery apps, restaurants, bars, you name it. Oftentimes these businesses charge pretty dang high too. So why make the customers pay twice for the service? Also, why do people think it's rude not to tip? +I'm just gonna keep it real. There's me and some others on this board that are aware of the problem, and occasionally I'll talk about it inside various threads: Most of you trade like retards. Risk management is not in your vocabulary. There's no justification. No financial analysis. No technical analysis. No plan. It's just "High IV? OK me sell now." If this is honest to god how you trade, I'm gonna sound like a total dick here but you do deserve to lose everything you're trading with, if only to prevent you from losing an even bigger amount later on with your "fool proof strategy" of wheeling 100IVR stocks in a bull market. Unfortunately, a massively traumatic loss (or a few) seems to be the only way to get people to snap out of glaringly stupid trading methodologies. + +I said this a million times to people throughout 2020, but when you're in a bull panic people never listen until they get destroyed the second the market slows down even a bit. This isn't even tough. This is just a slow/chugachug type market, neutral-bullish, and a lot of people here are suffering badly on over-allocated positions, because they're in *deeply* overvalued garbage with prices built on sentiment rather than fundamentals. And if you don't understand how you can be "cash-secured" and still deeply over-allocated, you don't know what you're doing. I'd also say if you're trading theta strategies on momentum stocks, you probably also don't know what you're doing (Ah said it). But seriously, imagine where you'd be in a prolonged market contraction, which our overvalued equities market is just begging for at this point: little doggy sitting in the middle of the house on fire dot jpeg. + +IV is dead. Theta strategies are not the only strategies there are in trading. ADD active management usually does more harm than good -- sometimes there's just no trades. Maybe, just maybe, there's some market environments where your one-trick pony should sit the fuck still. Maybe then you'd be able to find the time to read a book or two on fundamental or technical analysis (preferably both), learn how to trade shares or long premium on stocks that actually deserve capital allocation, and stop this madness. + +Now let me show myself out so you can read more threads on how people hate their job and want to make 5k per month passive income off the wheel strategy. I'm beyond flattered that so many people think I, as a random internet guy, can so easily show them how to do that. +No stamp duty. + +Flexibility to move around to pursue better job opportunities. + +The chance to experience multiple different lifestyles, suburbs, restaurants, parks, other local highlights. + +Move overseas for a while. See a bit of the world. + +Invest in shares, pump up your super, take advantage of compounding. + +Live in multiple parts of Australia; go on road trips to highlights in each state. + +Equity Builder for leverage if you desire. + +Dealing with landlords? Yeah, but no dealing with tenants. + +No maintenance costs. + +Live in a nicer place than a mortgage would cost. + +More friends, in more places. + +Invest in businesses, not unproductive assets; be a more useful member of society. + +End up in a place with screaming neighbours? No worries, move in 6 months at no real cost. + +You are not a "failure" as a renter. The narrative needs to change for us to progress as a country. + +Edit: it seems some people are taking this the wrong way. **This is not saying "renting is BETTER than buying"**. It is for the people who are down on themselves/depressed that they can't scrape together a deposit - or choose not to - and have people looking down on them for it for no real reason when there are actually *multiple* positive aspects to renting. +The greys are taking over. Please reconsider flipping homes and making them all grey and white/adding barm doors. To me, it's an over-used look and causes loss of characteristics in the home. Can we try something different? + +Edit: spelling + +Edit 2: thanks for the awards. As soon as I see a potential flip that's been treated like this, I pretty much move on. Good luck everyone! +My wife and I are 33 and own two duplexes in addition to our personal home. We’ve worked hard and saved over the years to get to this point. My two younger brothers have made comments recently that it’s wrong for me to own property and charge someone else to live in it. Their argument is that it’s taking advantage of the lower class, contributing to high house prices, etc. They’ve both struggled financially due to poor decisions (dropping out of college, consumer debt, losing/quitting jobs…). + +How do you all respond to this? My primary points have been: (1) landlords pay a lot of money and take on financial risk in order to provide places for people to live, and it isn’t wrong get rewarded for that; (2) home ownership isn’t for everyone, and people who can’t/don’t want to own homes need landlords; and (3) the alternative to landlords would be widespread government-run housing, which would decrease living quality for renters since governments aren’t driven by a profit incentive to keep places nice and desirable. + +Any other thoughts? +Pretty much as the title says. It's mostly my mother who seems all hurt when I pointed out that me being able to financially take care of them is the same chances as a snowballs in hell. I can *reasonably* take care of myself, but money is tight and I budget like a champ. I *can't* take care of them. The thing that really had me rolling my eyes was the expectation that she would be taken care of like her siblings (not her) took care of my grandmother... My grandmother who at the age of 96 died with 350K in her retirement account. Where as my mother has zero money in any form of retirement and never completed high school/GED. + +So anyone else have parent's who expected their children to pull them out of poverty? Are you attempting to frugal/poverty budget in some money for them? I personally garden and can help out with food but as for any extra cash I'm pretty much pulling up empty pockets. +Since all the other streaming services have come online I don't really see anything that sets Netflix apart other than they were first. I wouldn't actually be able to tell which one I am watching aside from the branding. + +They have also lost a lot of content due to all the other services such as Disney starting. + +Does a company necessarily need a Moat to be successful? +### The Royal Swedish Academy of Sciences has decided to award the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2020 to Paul R. Milgrom and Robert B. Wilson “for improvements to auction theory and inventions of new auction formats”. + +#### Nobel Prize Committee + +* [Video announcement](https://www.youtube.com/watch?v=XIl-OBg1jmg) +* [Summary](https://www.nobelprize.org/prizes/economic-sciences/2020/summary/) +* [Press release](https://www.nobelprize.org/prizes/economic-sciences/2020/press-release/) +* [Popular science background: The quest for the perfect auction](https://www.nobelprize.org/uploads/2020/09/popular-economicsciencesprize2020.pdf) +* [Scientific Background: Improvements to auction theory and inventions of new auction formats](https://www.nobelprize.org/uploads/2020/09/advanced-economicsciencesprize2020.pdf) + +#### News Coverage + +* [CNN: Nobel Prize in economics awarded to Paul Milgrom and Robert Wilson +](https://edition.cnn.com/2020/10/12/business/nobel-prize-economics/index.html) +* [CNBC: Nobel Economics Prize awarded to Paul Milgrom and Robert Wilson for work on commercial auctions](https://www.cnbc.com/2020/10/12/nobel-economics-prize-awarded-to-paul-milgrom-and-robert-wilson.html) +* [Washington Post: Nobel Prize in economics awarded to Paul Milgrom and Robert B. Wilson for their work improving auction theory](https://www.washingtonpost.com/business/2020/10/12/nobel-prize-economics-awarded-paul-milgrom-robert-b-wilson-their-work-improving-auction-theory/) + +This page will be expanded with additional news coverage and commentary as the day progresses. Please direct all Nobel discussion here. +I was reminded of the old New Yorker cartoon with the above caption over the last few days as I first read the "let's introduce ourselves" thread and then the "let's talk about how much crypto we hold in our HNW portfolios" thread (answer, apparently not much, unless you got to be HNW through crypto). What I found was that a lot of people in this forum are in their 20s and not HNW currently and a lot of people have a zealous, and perhaps almost messianic belief in the power of crypto (what one might have called "irrational exuberance" in a more cynical age). + +So what's the purpose of this semi-rant? Just to remind everyone that while the purpose of this forum is to discuss Fat Fire, there are a lot of people here who are neither FI nor RE currently, so take everything here with a grain of salt, particularly the opinions of those flogging new and exciting asset classes with exponential growth opportunities. + +Having lived through the inflation of the '70s, the crash of '87, the Internet bubble of the late '90s/early 2000s, the subprime crisis of the mid 2000s, three wars, a couple of oil booms and busts and about four stock crashes, large and small, I just have to say there are no asset classes which can resist the forces of gravity forever, there are no industries which will always be there and your best chance at financial success/FIRE is keeping up your skills, your professional networks and owning your own business/having a professional degree. And, if you're investing, you're going to learn more from r/bogleheads than you will here. + +Rant over. Now get off my lawn. +> My cousin in law was interested in investing. He opened a Robinhood account. And, he seemed to be enjoying the markets. As many of us do, or have done, he got interested in options. He believed he had “no margin” selected on his account. + +> So, he began buying and selling options. Fast forward to sometime this past week and his account showed him owing $700k+. How does a 20 year old with no income get access to that kind of leverage/exposure?! + +https://www.marketwatch.com/story/finance-isnt-worth-losing-your-life-over-the-heartbreaking-story-of-a-rookie-trader-who-racked-up-700000-in-debt-2020-06-14 + +https://twitter.com/billbrewsterscg/status/1271802132979748866?s=21 +I was just in dunkin donuts it took me 25 minutes to get 2 black coffees and only 2 people were inclined in front of me. A guy waiting was chatting with another guy waiting saying nobody wants to work. + +I hear people saying people arent gonna work jobs they dont like for low pay and bad benefits but how do people actually take this hard stance? At some point dont you have to pay your rent and feed yourself? What are peoppe doing for money? + +During covid we had the federal unemployment but now that that has ended what are peoppe doing? Are two worker households choosing for one person not to work? Are people moving back in with family and cutting expenses? How are people surviving? +WWII bombed most of the industrialized world to ash, leaving the US intact (unless you count Pearl Harbor, which was a military base and not an industrial district). The industrial behemoths of the era, Britain, Germany and France were all bombed to smithereens, deprived of young potential workers, and bankrupted to the bone. + +The Russians practiced scorched earth on thousands of miles of their land, lost 20+ million men, and experienced terrible famines. The Japanese had their major cities and industries burned to ash. The Chinese were embroiled in civil war, and experienced the greatest famine the world has ever seen. + +The Middle East states had their natural resources exploited by westerners, and their borders were engineered to cause sectarian conflicts. Southeast Asia and India were still under the yokel of colonialism. + +To me, this seems like the BIGGEST reason for the success of America. Not American Exceptionalism tarnished by hippies or automation or taxation reforms or civil rights reforms. Sure, feminism has exploded the labor supply, "trickle down economics" weak regulation and nonexistent anti trust litigation have allowed strong concentration of wealth and power... But what about the simple fact that WWII eliminated any viable competition for American industry for half a century? + +I mean, a boomer male that can assemble something in a factory competed with like 70m other American males in 1945. A millennial that can assemble things competes with **billions** of males, females and children that are willing to take 100th of his salary. Of course they could sustain a family on one paycheck back in the 50\`s! + +Has my layman opinion made me overestimate the importance of this factor in wage stagnation and reduction in quality of life? When we discuss on how baby boomers had it better, why do we never mention they simply had no fair competition? +I've been doing some research into a few UK listed companies, noted below. + +**Velocys LON: VLS -** [https://www.velocys.com/](https://www.velocys.com/) + +Velocys aim is to work with aviation & aerospace to create sustainable fuels and help achieve net zero emissions. + +Their process transforms waste into clean fuels using a process called the Fischer–Tropsch process, which converts carbon monoxide and hydrogen into liquid hydrocarbons + +Basically domestic refuse and woody waste is received, sorted and prepared at their plant. The solid waste is then heated to a high temperature to break it down and convert it into synthesis gas (carbon monoxide & hydrogen), which is used to synthesise hydrocarbons using the Fischer -Tropsch technology. This is fundamentally different to incineration; instead of being burnt, the carbon is converted into fuel. This is much better use of household waste than incineration or landfill, plus this fuel would see a 70% reduction in greenhouse emissions compared to conventional jet fuel, and a 90% reduction in particulate matter from engine exhausts. + +Notably, their sustainable biofuels require no aircraft engine modification or change of airport infrastructure. + +Collaborating with British Airways and Shell, planning permission was successfully granted earlier this year for the Altato Immingham plant in Lincolnshire ([https://www.altalto.com/immingham/](https://www.altalto.com/immingham/)), a project that will take over 500,000 tonnes of household and office waste each year, and convert them into over 60 millions litres of clean jet fuel. The plant aims to be operational in the mid 2020s. Velocys are leading this project, assembling and licensing all the technology components into an integrated design. They are also developing a plant in Mississippi that will create fuel for road transportation in the US, from paper and lumber industry waste. This plant is Pre-FEED (completion by end of Q1 '21), and federal permitting completed. + +I found this extract very interesting applicable for their primary project, taken from the the UK Gov White Paper on our Net Zero future ([https://www.gov.uk/government/publications/energy-white-paper-powering-our-net-zero-future](https://www.gov.uk/government/publications/energy-white-paper-powering-our-net-zero-future)). “Jet zero and green ships: By taking immediate steps to drive the uptake of sustainable aviation fuels, investments in R&D to develop zero-emission aircraft and developing the infrastructure of the future at our airports and seaports, we will make the UK the home of green ships and planes.“ + +Share Price: 8.10p + +Market Cap: £87.05m + +Previous Month Performance: +24.53% + +I suspect this hasn't exploded yet, because of tie ins to aviation and subsequent lower demand. However if you believe aviation will make a comeback, and the future is green, then this could be a solid play over the next 12-18 months. I've already taken a 40,000 share position in this and will just sit on this. Perhaps Greta Thunberg may pass on the boat trip and fly to the USA next time. + +**SIMEC Atlantis Energy LON: SAE-** [https://simecatlantis.com/](https://simecatlantis.com/) + +SIMEC Atlantis aim to become the leading independent sustainable power generator in the UK. They are involved with the design, construction, installation, testing, operation and maintenance of power projects across the globe with more than 1,000 megawatts of power projects in various stages of development, aiming to have 250 megawatts operational by 2021. + +Their core offering is tidal power generation from Atlantis, where they are recognised as world leaders in the sector, with operations and projects across the UK, Canada, India and China. The worlds largest tidal energy plant currently under construction in Scotland, entitled 'MeyGen', is an Atlantis project, phase 1A of this is already operational. + +Compared with offshore wind, tidal hasn't been able to compete in recent years, which is probably why you don't hear too much about it, however the UK government has also proposed a restructuring of the CfDs pots in 2021, where they are looking to separate offshore wind and tidal into separate pots. In simple terms, tidal will have a greater chance of winning CfDs and therefore increased revenue support which will massively benefit the Atlantis MeyGen and other UK projects. + +They also operate in the Waste-to-Energy space following their acquisition of the Uskmouth Power Plant, Newport, Wales. This formal coal powered station is in the process of being converted to use a waste-derived energy pellet as fuel and deliver 220 MW of power to the grid. This project will be a world first conversion of a coal fired power plant, and if successful will provide a blueprint for other conversions across the world. There is growing public concern about what happens to your household waste, to put it in perspective across a 20-year life of the project, the waste used to produce the pellets would will a volume equivalent to more than 46,000 Olympic sized swimming pools - waste that would otherwise end up in landfill. + +They also have a Turbine and Engineering Services division that designs, supplies and maintains tidal turbines and subsea connection equipment. + +Share Price: 19.01p + +Market Cap: £93.98m + +Previous Month Performance: -19.09% + +I'm bullish on Tidal especially where the gov CfD proposals apply, plus unlike wind, the moon rarely takes time off so it's a fairly reliable source of power. Additionally if they're able to show commercial success at the Uskmouth Power Plant then the potential here for growth is incredible, with thousands of coal plants worldwide approaching their end of life and being phased out, conversion to a waste pellet fuel (as opposed to biomass like the Drax powerplant) would be the most sustainable way to both manage excess waste and also improve the environmental performance of a coal plant. I have taken a 10,000 share position in this. + +**Biome Technologies LON: BIOM -** [https://biometechnologiesplc.com/](https://biometechnologiesplc.com/) + +Comprises of two operations, Biome Bioplastics and Stanelco RF Technologies. + +Biome Bioplastics is a developer of highly-functional, naturally-based plastics. Bioplastics are designed so that the biodegrade or compost at the end of their useful life. They are made to be chemically identical to their oil-based counterparts, and can be directly substituted. The production process requires much less energy, and is overall a much more sustainable method of providing plastic in our day to day lives whilst also managing the end-of-life process. Growth here is driven by new product launches, and the trajectory of demand for bioplastics increasing with pressure for a low carbon economy and better management of plastic waste. End of 2019 saw this division report revenue of £3.4m compared to £1.9m in 2018. Quarterly revenues ending Sep 2020 were £1.6m, 48% ahead of the previous quarter and 131% ahead of the same period last year. + +Stanelco RF Technologies designs, builds and services advanced radio frequency systems. Whilst historically a large part of their business, demand for products produced by this division has been reducing, and as such my focus is more on the aggressive growth on the bioplastics side becoming dominant. + +Share Price: 185p + +Market Cap: £6.87m + +Previous Month Performance: +0.81% + +My view is that plastic isn't going anywhere, and bioplastics sit in a rapidly expanding market to help mitigate the downsides associated with plastic use. A handful of big clients could easily multiply the sales for this company. I expect aggressive growth for bioplastics to continue, but since this is a nano-cap level and AIM being AIM, really it's a gamble, so I'm only going to put a small amount in this, circa £100 / approx 500 shares. + +\_\_\_\_\_\_\_ + +I hope others find this useful. As always DYOR. Comment below if you want to add anything, I know these aren't all pure green plays, we do really need to move away from burning things for power and move to renewables and electric vehicles, however that isn't going to happen over night. The best way to kickstart and maximise value of this transition is to make use of the existing infrastructure in a more sustainable way and managing our waste in the process. If anyone has any other suggestions then let me know. +I've been doing some research into a few UK listed companies, noted below. + +**Velocys LON: VLS -** [https://www.velocys.com/](https://www.velocys.com/) + +Velocys aim is to work with aviation & aerospace to create sustainable fuels and help achieve net zero emissions. + +Their process transforms waste into clean fuels using a process called the Fischer–Tropsch process, which converts carbon monoxide and hydrogen into liquid hydrocarbons + +Basically domestic refuse and woody waste is received, sorted and prepared at their plant. The solid waste is then heated to a high temperature to break it down and convert it into synthesis gas (carbon monoxide & hydrogen), which is used to synthesise hydrocarbons using the Fischer -Tropsch technology. This is fundamentally different to incineration; instead of being burnt, the carbon is converted into fuel. This is much better use of household waste than incineration or landfill, plus this fuel would see a 70% reduction in greenhouse emissions compared to conventional jet fuel, and a 90% reduction in particulate matter from engine exhausts. + +Notably, their sustainable biofuels require no aircraft engine modification or change of airport infrastructure. + +Collaborating with British Airways and Shell, planning permission was successfully granted earlier this year for the Altato Immingham plant in Lincolnshire ([https://www.altalto.com/immingham/](https://www.altalto.com/immingham/)), a project that will take over 500,000 tonnes of household and office waste each year, and convert them into over 60 millions litres of clean jet fuel. The plant aims to be operational in the mid 2020s. Velocys are leading this project, assembling and licensing all the technology components into an integrated design. They are also developing a plant in Mississippi that will create fuel for road transportation in the US, from paper and lumber industry waste. This plant is Pre-FEED (completion by end of Q1 '21), and federal permitting completed. + +I found this extract very interesting applicable for their primary project, taken from the the UK Gov White Paper on our Net Zero future ([https://www.gov.uk/government/publications/energy-white-paper-powering-our-net-zero-future](https://www.gov.uk/government/publications/energy-white-paper-powering-our-net-zero-future)). “Jet zero and green ships: By taking immediate steps to drive the uptake of sustainable aviation fuels, investments in R&D to develop zero-emission aircraft and developing the infrastructure of the future at our airports and seaports, we will make the UK the home of green ships and planes.“ + +Share Price: 8.10p + +Market Cap: £87.05m + +Previous Month Performance: +24.53% + +I suspect this hasn't exploded yet, because of tie ins to aviation and subsequent lower demand. However if you believe aviation will make a comeback, and the future is green, then this could be a solid play over the next 12-18 months. I've already taken a 40,000 share position in this and will just sit on this. Perhaps Greta Thunberg may pass on the boat trip and fly to the USA next time. + +**SIMEC Atlantis Energy LON: SAE-** [https://simecatlantis.com/](https://simecatlantis.com/) + +SIMEC Atlantis aim to become the leading independent sustainable power generator in the UK. They are involved with the design, construction, installation, testing, operation and maintenance of power projects across the globe with more than 1,000 megawatts of power projects in various stages of development, aiming to have 250 megawatts operational by 2021. + +Their core offering is tidal power generation from Atlantis, where they are recognised as world leaders in the sector, with operations and projects across the UK, Canada, India and China. The worlds largest tidal energy plant currently under construction in Scotland, entitled 'MeyGen', is an Atlantis project, phase 1A of this is already operational. + +Compared with offshore wind, tidal hasn't been able to compete in recent years, which is probably why you don't hear too much about it, however the UK government has also proposed a restructuring of the CfDs pots in 2021, where they are looking to separate offshore wind and tidal into separate pots. In simple terms, tidal will have a greater chance of winning CfDs and therefore increased revenue support which will massively benefit the Atlantis MeyGen and other UK projects. + +They also operate in the Waste-to-Energy space following their acquisition of the Uskmouth Power Plant, Newport, Wales. This formal coal powered station is in the process of being converted to use a waste-derived energy pellet as fuel and deliver 220 MW of power to the grid. This project will be a world first conversion of a coal fired power plant, and if successful will provide a blueprint for other conversions across the world. There is growing public concern about what happens to your household waste, to put it in perspective across a 20-year life of the project, the waste used to produce the pellets would will a volume equivalent to more than 46,000 Olympic sized swimming pools - waste that would otherwise end up in landfill. + +They also have a Turbine and Engineering Services division that designs, supplies and maintains tidal turbines and subsea connection equipment. + +Share Price: 19.01p + +Market Cap: £93.98m + +Previous Month Performance: -19.09% + +I'm bullish on Tidal especially where the gov CfD proposals apply, plus unlike wind, the moon rarely takes time off so it's a fairly reliable source of power. Additionally if they're able to show commercial success at the Uskmouth Power Plant then the potential here for growth is incredible, with thousands of coal plants worldwide approaching their end of life and being phased out, conversion to a waste pellet fuel (as opposed to biomass like the Drax powerplant) would be the most sustainable way to both manage excess waste and also improve the environmental performance of a coal plant. I have taken a 10,000 share position in this. + +**Biome Technologies LON: BIOM -** [https://biometechnologiesplc.com/](https://biometechnologiesplc.com/) + +Comprises of two operations, Biome Bioplastics and Stanelco RF Technologies. + +Biome Bioplastics is a developer of highly-functional, naturally-based plastics. Bioplastics are designed so that the biodegrade or compost at the end of their useful life. They are made to be chemically identical to their oil-based counterparts, and can be directly substituted. The production process requires much less energy, and is overall a much more sustainable method of providing plastic in our day to day lives whilst also managing the end-of-life process. Growth here is driven by new product launches, and the trajectory of demand for bioplastics increasing with pressure for a low carbon economy and better management of plastic waste. End of 2019 saw this division report revenue of £3.4m compared to £1.9m in 2018. Quarterly revenues ending Sep 2020 were £1.6m, 48% ahead of the previous quarter and 131% ahead of the same period last year. + +Stanelco RF Technologies designs, builds and services advanced radio frequency systems. Whilst historically a large part of their business, demand for products produced by this division has been reducing, and as such my focus is more on the aggressive growth on the bioplastics side becoming dominant. + +Share Price: 185p + +Market Cap: £6.87m + +Previous Month Performance: +0.81% + +My view is that plastic isn't going anywhere, and bioplastics sit in a rapidly expanding market to help mitigate the downsides associated with plastic use. A handful of big clients could easily multiply the sales for this company. I expect aggressive growth for bioplastics to continue, but since this is a nano-cap level and AIM being AIM, really it's a gamble, so I'm only going to put a small amount in this, circa £100 / approx 500 shares. + +\_\_\_\_\_\_\_ + +I hope others find this useful. As always DYOR. Comment below if you want to add anything, I know these aren't all pure green plays, we do really need to move away from burning things for power and move to renewables and electric vehicles, however that isn't going to happen over night. The best way to kickstart and maximise value of this transition is to make use of the existing infrastructure in a more sustainable way and managing our waste in the process. If anyone has any other suggestions then let me know. +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. + +*** + +Resources and other information: + +* 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). + +* 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. + +* **The daily thread will no longer be stickied so please remember to upvote it for visibility.** + +*** + +Thank you in advance for your participation. Enjoy! + +Fellow Apes, I have seen a lot of discussion on the possibility of hedge funds covering and whether or not they could have covered during the RH shutdown. I have done some analysis and would like to shares my results. This is not investment advice and should not be construed as such. + +I know you guys can't read, but I highly recommend learning how to read and reading this.🚀🚀🚀 + +**Part 1: What Happened on the 28th?** + +As we all know, last Thursday on the 28th RH and other brokerages disabled the purchase of GME shares at a critical moment that very well may have been the beginning of the squeeze. This is a significant day because it broke momentum, and many users seem to believe that the hedge funds planned this moment to strategically cover their short positions. + +[Here is a graph of the 28th with some of my analysis](https://imgur.com/a/XyG9sfV) + +[Here is a tweet from Ihor (S3) stating the short interest data as of the 28th](https://twitter.com/ihors3/status/1355194252674953219?s=20) + +Per S3, Short Interest was 62.9M as of the 27th and 57.8M as of the 28th. The net SI is (57.8M)-(62.9M)= -5.08M. This means the net short position reduced by 5.08M shares, however, many users claim that hedge funds may have used this opportunity to shift their short position higher so that they could minimize losses by covering on the way back down. + +Well lets say that's what happened, and lets assume it was carried out flawlessly. We will also assume this happened in a vacuum, i.e. retail did not contribute to any volume, so that we can get a liberal estimate. + +To establish a short position at a higher price, hedge funds would be borrowing to short sell shares for the first 30 minutes as the price quickly rose to $482.85. If the entire volume during this period of time was hedge fund short selling, than they would have opened 15.8M more short positions. ~10M in volume happened in the first 10 minutes, so at best they would have 10M more shares sold short between $275 and $350, and the remaining 5.8M positions would be opened between $350 and $480. + +This means that if shorts added to their position at this time, the best they could have done is add ~15.8M short positions at an average ~$300. This is assuming **no covering** was done during this period of time, which is highly unlikely considering the price **went up.** + +Now, during the freefall following RH trade restrictions, there was only 10.4M in volume. If hedge funds used this moment to cover old positions at a reduced price, they would have only been able to cover 10.4M positions, and 5.7M of those positions would have been covered at a cost greater than $300, only 4.7M could have been between $300 and $112. This is a minuscule amount of covering despite the ideal period of time, and it doesn't even account for that fact that **covering would drive the price up, not down.** + +Lastly, after the nosedive there was a bounce of ~9.2M in volume. If we were to assume hedge funds were again able to add more short positions here to transition into a better average, they would only be able to add 9.2M at an average of ~$250. Once again, however, adding positions would have drove the price down, not up. + +So even in the most ideal situation using RH's restrictions and ignoring market mechanics, shorts would have only been able to add 25M ideal short positions at an average of ~$280, while covering only 10.4M at exorbitant costs. + +This likely didn't happen, for several reasons. + +First, S3 reports that short interest decreased by 5M on the 28th. Now of course there is plenty of volume to cover after the first half of trading, however, they would be at non-ideal prices. + +Second, this theory is impossible because when shorts cover en mass, the price would increase not decrease, and when shorts sell en mass, the price would decrease not increase. + +Third, this is assuming that 0 volume was from retail investors trading between eachother, also highly unlikely given the hype at the time. + +Fourth, in order to sell something short you need to borrow a share, and we know that, at that time, GME was **hard to borrow.** + +What is more likely is the **inverse** of the above, which would mean shorts covered 15.8M shares at an average cost of $300, then short sold 10.4M shares at an average of $250, before further covering 9.2M at an average of $250. **Despite ideal circumstances, that is not an ideal result for hedge funds.** + +That means hedge funds **are not** kicking back and counting stacks after swapping their positions to $480 sell points, that would be impossible. + +**Part 2: What About Last Friday?** + +Now this was an important day, GME fought hard and closed at above $320. What makes this day confusing, however, are the claims that short interest drastically decreased. + +[Here is a chart of the 29th with my analysis](https://imgur.com/a/nU0JOXs) + +[Here is a tweet from S3 claiming short positions decreased by 30M shares by the end of Friday](https://twitter.com/ihors3/status/1356018482471718916?s=20) + +Now I won't get into detail about the other factors that call this claim into question, you can look into those on your own. What I want to go over is **how could it be remotely possible?** + +S3 claims 31M shares were covered on the 29th, however the share price had a net decreasing trend. There were only 2 notable upward rallys, and combined they only account for 24M shares. If hedge funds covered the whole 24M in volume it would still be 6M shares off and thats not even accounting for retail investors trading between themselves. Where did the other 6M shares go? I find it hard to believe they could cover 6M shares with no significant upward momentum while retail investors were buying shares in a frenzy on friday. + +[Also note that Short Volume was 17.6M on Friday](https://fintel.io/ss/us/gme) + +So on Friday there was 50M in volume. 17.6M of that volume was due to shares sold short, so SI would be (57.8 SI as of the 28th)+(17.6M shares sold short) = 75.4M. In order for short interest to have decreased to around 27M as [S3 said](https://twitter.com/S3Partners/status/1356317744300490752?s=20), it would have required the covering of (75.4M)-(27M) = 48.4M shares. **How do you cover 48.4M shares when there is only 50M volume and 17.6M of that volume was used to ADD SHORT POSITIONS?** + +**There simply was not enough volume to cover a net 31M shares. At most, 32.4M shares TOTAL could have been covered if EVERY single purchase of GME was by a hedge fund with a short position, which would make SI (75.4M)-(32.4M) = 43M. It is highly unlikely that not a single retail investor, insider or institution purchased GME shares on Friday, so the actual SI is likely much higher.** + +Furthermore I want to draw attention to **other times shares were covered** and their effect on the price, and you tell me if hedge funds could cover 31M NET shares last Friday. + +[S3 claims](https://twitter.com/ihors3/status/1355249817048522755?s=20) that from Jan 12th to Jan 14th, the SI went from ~69M to ~62M, a decrease of 7M shares. On the 12th GME was worth $20 and by the 14th we saw a high of $43, an &gt;100% increase. + +They then claim that from the 14th to the 25th, there was a slight steady increase in SI as the share price crawled towards $50. From the 25th to the 27th there was literally **exponential growth** in the share price **despite no change in SI**. But then, all of a sudden, on the 28th there is a net decrease of 5M short positions and a significant reduction in price, and on the 29th there is a net decrease of 31M shares along with a steady decline in price. How could that be remotely accurate? + +There was 50M in volume on the 29th, how could the purchase of &gt;31M shares by a single entity, not even accounting for retail, result in a net decrease in share price? + +**Part 3: How Could They Do It?** + +[Read this post, and the sources within it, in detail](https://www.reddit.com/r/wallstreetbets/comments/ld5rd9/evidence_pointing_to_shorts_did_not_cover/?ref=share&amp;ref_source=link) + +Shorts can use deceptive options trades to trick you and other short interest analyzers into believing they have covered **when they have not** + +There were $43M worth of mid March 800c purchases, you do the math. + +Why was their a silver rush pulled out of thin air on monday? Why is the media still aggressively spreading FUD? Why are there bots everywhere in WSB? Shorts haven't covered, they can't cover and they wont. They also **did not** shift themselves into an advantageous short position last Thursday, there was only 19M in short volume total and minimal volume during ideal circumstances. They want you to think they covered, they also want you to think they have a better short position. + +They want you to think this is over because there may not be enough shares for them to cover even if they wanted to. If there were they would have repositioned on Thursday. Brokerages restricting buying for retail investors was likely due to the fact that shorts couldn't find the shares to cover, nor could they find enough shares to reposition. They really need your shares and want to funnel them away from retail. + +TLDR: Seriously, read this whole thing. I know you won't, but do it. Hedge funds did not transition to better short positions during the RH fiasco last Thursday, it would have been impossible to do so in meaningful amounts. They also did not cover 31M shares last Friday, it would have been impossible based on volume alone. They want you to think they did, they need you to, but they did not. + +Disclaimer: I am not a financial advisor, nor am I licensed or in any way qualified to dictate or advise your trading decisions. This is not financial advice. This analysis is not meant to influence, inspire, or inform you regarding your trades. This analysis was written purely as speculation and could be entirely incorrect. I found my own analysis interesting and wanted to share my unprofessional opinion. Furthermore, while these numbers are accurate as per their sources, they may not account for other factors that relate to the stock’s activity. I own shares of GME. + +Monke Storng Together🦍, Memestonk to the Moon🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 + +Edit: [Fintel has since altered short volume data](https://www.reddit.com/user/RubinoffButtChug69/comments/lfdcv1/fintel_changed_their_short_volume_data_after_my/?utm_source=share&amp;utm_medium=ios_app&amp;utm_name=iossmf) +Article from [Yahoo Finance](https://uk.finance.yahoo.com/news/uk-investors-amc-gamestop-blackberry-expr-koss-meme-stocks-markets-mudrick-capital-152044275.html + +On Wednesday the cinema chain closed 95% higher on the day at $62.55, bringing its year-to-date gains to more than 3,000%.) + +AMC have come out and pleaded with investors not to buy their stock and artificially inflate the price and people just continue to pile into meme stocks. 80% of AMC shares are now held directly by retail investors. + +A lot of investors are about to get their whole hands burnt, not just their fingers. +Welcome to the Daily Discussion [Serious] 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. +- 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, memes, or any other low-effort content should be redirected to the Daily Moontalk thread. To visit this thread, [follow this link](https://www.reddit.com/r/ethtrader/search?q=Daily+Discussion+%5BMoontalk%5D&restrict_sr=on&sort=new&t=all) and choose the latest entry on the search page. + +*** + +Resources and other information: + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our [Ethereum Education wiki page](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. + +* **This thread will no longer be stickied so please remember to upvote it for visibility.** + +*** + +Thank you in advance for your participation. Enjoy! +Here's the crucial paragraph: + + +>But suppose you, personally, decide to cut back on your meat consumption. +> +>As demand for meat falls, the price of meat will fall. As we’ve seen in the past, Americans on the whole [eat less meat when it’s expensive and more when it’s cheap](https://www.vox.com/2016/8/18/12248226/eat-less-meat-campaign-fail). That effect will be even more pronounced in poorer countries like China, where meat consumption is [clearly constrained by income and has been surging in recent years](https://www.motherjones.com/environment/2018/07/the-chinese-are-eating-more-meat-than-ever-before-and-the-planet-cant-keep-up/) as the country gets richer. + +[source](https://www.vox.com/2018/11/27/18112540/what-can-we-do-to-stop-climate-change) + +Something doesn't seem right, because by that logic, if demand for meat increases, then meat prices would go down? Or in a similar vein, as electric car sales go up, gasoline consumption would also go up? + +I think initially consumption of meat might go up (because of oversupply), but eventually the meat supply will adjust and prices will stay the same (if not higher than they're now, since the economies of scale effect reduces). +First of all, I’d like to start off by stating this post is completely nonpartisan. GME is not a political debate, it’s a class war. + +Okay, let me ask you guys this — how many of you knew that when the pandemic began, the FED pumped $3 trillion dollars into the markets? I watch the news in the background all day, every day, and I didn’t know at the time when the injections were happening. This news would have been of great interest to me since I day trade, so it would not be something that I wasn’t paying attention to. I just simply wasn’t looking in the right places. + +You may not have been aware of the pump either because they were discreet. MSM that isn't financial news never mentioned them. And we were even misled about it. How many times did you hear Trump brag that markets being at an all-time high? This literally had nothing to do with how well the economy was doing. Or the markets for that matter. The record high is completely artificial. + +This isn’t a political issue; this is a class issue. What should infuriate you most is that people were literally starving, unable to pay their rent, and job losses were reaching record highs, while our government withheld aid to desperate Americans, and even took a vacation in the middle of their debate about it. But the Federal Reserve wasted no time (in March 2020) spending trillions of dollars bailing out banks. Again. + +It was not to protect your retirement accounts. They claimed there was not enough liquidity in the markets, and Fed Chair Jerome H. Powell stated he will do whatever it takes to prevent another Great Depression. But their actions are what is about to cause the next potential Great Depression. + +Not only was $3 trillion pumped into the market, but the Federal Reserve also lent an additional $1 trillion a day to large banks for 14-days. None of that was taxpayer money, by the way. The FED was just printing money. They loaned TRILLIONS OF DOLLARS to big banks, while the U.S. Government told the American people they didn’t even deserve a $600 check of their own, taxpayer money. + +The banks, investment firms, and hedge funds got too greedy and pumped too much into the market ([Here’s what the s&amp;amp;amp;p currently looks like if you haven't seen this image](https://imgur.com/AV3OIrs)), and the SEC and the DTCC were complicit. Now, there’s too much liquidity. There is more borrowed money than real cash in the market and it has no real value. It’s a house of cards, ready to fall at any moment. The wheels are in motion. It is happening. Correction is imminent. + +The SEC realized the market bubble at least 6 months ago. You may have heard that big banks recently had huge record-setting sales last week on bonds and were taking advantage of a recent dip in Treasury yields. That was a lie. The SEC told brokers that as of April 22nd, they must have the capital to cover every share they borrowed from investors and lent out to hedge funds. So, banks needed billions of extra capital on hand by April 22nd or they would have had to recall shares. + +I personally believe that the crash has begun and has been in motion since early February. I wrote [a post about it](https://www.reddit.com/r/Superstonk/comments/munkug/the_market_collapse_has_already_begun_and_has/?utm_source=share&amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;utm_medium=web2x&amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;context=3) yesterday, after realizing the trends for every stock on my watchlist have been extremely unusual. I received hundreds of comments from people saying they’re noticing the same unusual trend. + +The crash isn’t obvious to the average person because the stock market has continued to report record highs, every week. However, my trading strategy focuses entirely on penny stocks that are owned by hedge funds known to manipulate the market. Most stocks I invest in are all complete garbage, but I look for pump and dumps, obvious manipulation patterns, and anticipate runners based on near-identical charts of multiple companies. So, none of the stocks on my watchlists are in any of the benchmark indexes like the s&amp;amp;amp;p 500, Nasdaq, and the Dow. + +In one of the most interesting comments, [Comotron](https://www.reddit.com/user/Comotron/) explains it perfectly: "High-momentum stocks, which are risky at any time of the market cycle, are particularly so in the weeks prior to a bull market top. There could be a 'smaller dip first, followed by another rise for a few months and finally a much larger correction that officially ends the bull cycle. That’s the conclusion I reached upon analyzing all U.S. bull markets since 1926. Stocks that are riding a wave of momentum do not crest in unison with the broad market averages. They instead start to lose steam several weeks in advance. It is probably fair to say that "penny stocks" fall into the "high-momentum stocks" category. Either way, based on historical data, there appear to be credible indicators that suggest a market correction might happen in the near future.” + +That information is **fucking. fascinating.** From early December to mid-January, the market was ridiculously bullish. I literally made more money in one month than my annual salary. Then all of a sudden, every single one of my stocks just started trending downward, had a short rise, and have continued to bleed for the past few weeks. All of them. Exactly the same time. And exactly like he said in the comment. + +There has definitely already been a mass sell-off of securities by hedge funds who have lost AT LEAST 70 billion dollars in the past quarter, because of the tremendously dangerous and reckless risks they’ve taken recently, which alone would have crashed the market without the pump from the Federal Reserve. As we know, the hedge funds knew it would too, but gambled with our money anyway. This is just the beginning. There is a domino effect of bankruptcies on the way for hedge funds. + +We know the media has recently reported that investment banks and hedge funds had record-breaking quarters recently. Which, technically they did. But that’s because losses are only reported when you sell. They have not covered any of the short positions yet and are paying millions of dollars every single day until they do. In fact, capital from the mass sell-off isn’t going towards paying off their debt, millions of dollars are going towards suppressing this information, manipulating the market for more capital, and reducing losses. What they’re doing is completely illegal and the media is not reporting it, the left or the right-wing media. It’s because they’re all controlled by billionaires. In the past three months, I have never seen so much lying and corruption in my life. + +As the SEC’s deadline to secure capital approaches there have been other signs that things are going to blow up very soon. For instance: + +* The SEC announced in a press release that it will award a record-breaking $114 million to whistleblowers whose information and assistance lead to the successful enforcement of SEC and related actions. +* Gary Gensler was confirmed as the new chairman of the Securities and Exchange Commission (SEC) on Wednesday. He was sworn on Saturday. What’s interesting about that is that it’s not typical to be sworn in on Saturdays. The last SEC chairman to be sworn in on a Saturday was George Bradford Cook, and it was before the Watergate scandal broke. + +When all this does break, they will try to change the narrative. They’re going to blame it on retail traders and say overvalued stocks bought during the pandemic caused the crash. Fox will probably even blame the Biden administration. But either way, they’ve already started pushing an alternative narrative. For example, CNN linked an interview with some dude (I really don’t care enough to look for his name or the video, because I don’t find him credible) who owns a market intelligence company. The guy apparently predicted every single market crash since 1987’s Black Monday. I watched the whole interview, and he went on and on about how there will be a market crash soon and said the reason is that tech stocks are overvalued right now. If he were an actual market expert explaining the upcoming market bubble, he would have mentioned any of the information above, but he didn’t. He strictly talked about tech stocks. + +So, yeah, it’s out there. Billionaires control the stock market, media, and our politicians. + +I don’t know about you guys, but I’m fucking sick of it. And for that, they need to pay. + +**The Ceiling/Floor:** + +There are many factors in all this that we need to calculate into our ceiling/floor. First of all, we should demand back the $17 trillion dollar bailout given to banks, that was gambled away recklessly, and will inevitably crash our economy. + +$17 trillion / 55.6 million (float) = $303,571.00/share + +That would be my floor if there was no market bubble. But there is. And it’s their fault. Therefore, our floor should hold them accountable for the massive amount of money Americans are about to lose when the market crashes. The only problem (for hedge funds) is that no one knows how much this is going to cost. + +For that reason, I believe GME is priceless. They can't afford to keep the price down, once the squeeze begins. We literally choose the price. The limit does not exist. + +I believed it before, but I see it now. And I have all the information, which makes me believe we are owed this money. Not just for past for corruption, but to cover future, unavoidable losses. + +I ask you all to stop fighting about the floor and ceiling, take down your sell limits, and repeat after me: + +**“My shares are not for sale.”** + +Stop thinking about selling. I will remind you again that we own the float. They’re paying millions of dollars in interest each day and will eventually be forced to cover. Force the liquidity to dry up. Watch buy orders rise from $1,000, $5,000, $10,000…$1,000,000…because they’re not being filled. + +Sell when you feel comfortable and believe it’s an amount you deserve. Everyone has different risk tolerances, not everyone will sell at the same time, and we know the original members of r/wallstreetbets have an extremely and unusually high tolerance for risk. So, trust us and each other. + +This really is a revolution. As Scaramucci Tweeted, this is like the modern-day French Revolution of finance. Gamestop is a MOTHERFUCKING (Keith) GILL-OTINE. + +This is the way. + +[Trust me. Everything is going to be fine.](https://www.youtube.com/watch?v=jbWHZwD5rGQ&amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;ab_channel=FlashReborn) + +Edit: Since this hit r/all, I thought I would mention that I am a female because WSBs has gotten a lot of criticism about it being a "boys' club". It isn't. + +Edit 2: Yo, Mr. Gensler - FOR SOME REASON, Jay Clayton and the mainstream media were unable to figure most of this information out. (I know, crazy!) So, will I be receiving my $114 million whistleblower check in the mail...or...? Also, Jay Clayton might not be aware he's out of a job yet. You guys may want to let him know. Not on top of things, that one. +I’m not saying that these other countries didn’t grow at all, but compared to China it’s not much. I know that manufacturing was the prime reason why chinas economy grew, but why would they choose China specifically? From what I’ve heard it was because the communist government lessened restrictions to allow companies to manufacture and invest in China, but why would they choose to manufacture in China as opposed to other nations which were open for investment before China opened its markets? Or why couldn’t they just spread out manufacturing across all Asian countries instead of basing most of it in China? +I was listening to economist Thomas Sowell (who is African American himself), who claims that black poverty in the U.S. fell by 40% from 1940 to 1960, but this drop began slowing after Lyndon Johnson unveiled his Great Society program in the 60s, and poverty rates have remained relatively constant since then. + +Sowell claims welfare programs increased single-parent households among blacks in the U.S., which in turn led to increased poverty and impeded black progress in America. + +Are welfare programs and single parent households indeed to blame for poverty? Or are there other factors that he is overlooking? +This will be pretty long, so apologies for my A.D.D bretheren and sistren out there. + +So after seeing this recent influx of new investors we've had and what seems like a large amount of people throwing money away by getting burned following pump and dumps, being the empathetic cunt I am I thought it would be a good idea to create a thread where we can dive in a little bit to our own (basic) DD processes for finding companies to invest in. + +Note I said INVEST IN; i.e hold for more than a week at a time without being impatient. I know that might be against the "spirit" of this sub, but there's nowhere else on Aussie reddit where we can talk about a balance of trying to get growth without boring cunts telling you if you aren't putting all your money in a white bread boring ETF, you're basically acting like Scarface with a mound of cocaine. + +And yes, we know, "i JuST pIcK tHe sToCK wItH ThE MoSt rOcKeTs hAr hAr 🚀🚀", but if you legit just want to keep throwing your money away then by all means - it's your money. + +Note this is going to be more on the surface level, not going into things like Technical Analysis (TA, aka dissecting graphs, also aka "reading tea leaves"), and more about what are good tools out there, what are useful metrics to know about companies to try balance safety vs. rockets, and where to find them, etc. + +Again, this is just how \*I\* do it to try and find stuff that's still fun enough/good returns while not just being joke gambles, and note I'm not saying I'm either some badass investor multimillionaire or a professional advisor. + +My intent here is influenced by my own wasting money/being a dumbass a couple of years back, just like you guys are now, and buying into shit like BRN too high at peak meme level and being left bag holding - which is literally what I'm aiming to warn you against here so you don't have to go through the same shit. + +So, let's get started with the first things you'll need - the tools. In some ways we're really fortunate to have so many options online nowadays for companies that offer analytics and screening tools for stocks, but in other ways we're not as a lot of them are pretty shit. + +There's really only a couple of things you need to get by in my opinion for initial, screener-level DD, without having to spend hours and hours of your day diving into boring shit. + +**TOOL #1** + +That said, your first stop should be to bookmark this URL: + +[https://www.tradingview.com/screener/](https://www.tradingview.com/screener/) + +I've tried pretty much every other tool out there online, and only **Tradingview's** screener offers the best combination of: + +* Free +* Quick/responsive UI +* Excellent range of filters +* Works on most devices +* Has Dark Mode so it doesn't burn my eyes (personal preference) + +It's worth just making a Free account so it can remember your preferences etc.; I don't see any reason to pay them money for the basic needs, but if you want more advanced stuff feel free. + +This tool provides pretty much every listed company on every major exchange in one spot; since we're here to lose money on the ASX though, you just toggle the little "flag" icon on the top right to Aus, and you're ready. + +**THE FILTERS** + +Now, this will depend on a lot of things regarding your personal investment "strategy" and risk tolerance, but bear in mind the whole point of filtering is to exclude shit companies that have crap figures that make them less safe - or at least have growing revenue if you're after specs. + +If you're after the pure gamble route of chucking money onto a company that people are hyping based on raw sentiment in the hopes of fluking a multi-bagger (aka a stock that goes up several hundred %), then you should probably leave this thread and go into the daily and chase whatever Pump and Dump is being pushed today and hope you get lucky. + +You literally might as well just go bet on a horse with this "strategy" and forget the stock market. + +For me PERSONALLY, what I try and look for is stuff that walks the line between Boomer (yawn) and Rocket (gambling). + +That is to say, stuff that isn't going to be a snoozefest ASX200 company (with some exceptions) and gain you Ausfinance-like 10% max gains per year, but also not dogshit that makes no money and relies purely on media coverage or social media bandwagon crap that will die as soon as the hype dies down and leave you holding worthless bags. + +The goal *FOR ME PERSONALLY* (get the idea yet?) is to try and find stocks that end up with gains within the 50%-80% range... any higher, awesome what a bonus; any lower, and well as long as they end up around the \~20% gain mark then you're still pissing on pretty much any other mildly safe spot to put your money into in the current climate. + +So, some metrics to become familiar with - + +**Price to Earnings (P/E ratio):** yes, I know this is to ASX\_Bets what kryptonite is to SuperAutist, but it's one of the most basic figures to determine at least one main aspect of a company's general value relative to the share price. + +It's also good because it can literally scale with your risk tolerance; if you want riskier stuff, then just scale the P/E ratio higher. Of course, this doesn't work for spec stuff that doesn't actually *have* a P/E ratio; in those cases, I tend to use **Commsec** or a similar tool under "Company Financials" to look at the yearly revenue and see if it's at least trending up as a substitute. + +When most analysts out there say that "the stock market is currently overvalued", they are typically looking at its total P/E ratio. In this case, higher = more and more overvalued, and basically, "risky" a company is. + +At the moment, there are 1799 ASX companies listed on Tradingview in total; if I put in a P/E Ratio of Below 30 into its filters, that number quickly drops to 321, which is a good initial sign about how many companies aren't earning decent coin relative to their listed price. + +Totally depends on how risky you want to go, and the lower the number generally the lower the "rocket potential" will be (but still not always). + +**Return on Equity (RoE):** literally, shows how much income they made vs. the amount the shareholders own. Again it's a nice way to show how well a company uses the investments they get to make profit. The higher = the better they are at making money from equity. Let's set this to a minimum of 30 for the sake of this discussion. + +**Performance - yearly:** this is how what I try and do differs from "value investing" a.k.a pure Warren Buffet style Boomer stuff, which traditionally tells you to find stuff that has been down and in the red for the past X amount of time but is actually worth more, buy in and be patient, blah blah. + +I prefer to look at stuff that has been in the green over the past year as a sort of 'sentiment filter'; I just set this to "greater than 0" personally. + +Here's an example of why the "sentiment factor" matters. Let's take a look at the company **Zimplats (ZIM)** which otherwise almost always scores massively high on filters like this. + +*Edit: at the time of posting this DD guide, ZIM was still wallowing around in negative sentiment. It passed a 'qualified audit' soon after (in February 2021), which turned the sentiment around greatly and the resulting jump in their chart you'll see happened. The overall point still stands, however.* + +Massively profitable, extremely low P/E ratio, continually growing revenue... yet take a look at its performance the past year: + +[https://www.marketindex.com.au/asx/zim](https://www.marketindex.com.au/asx/zim) + +Looking at raw value, you'd think there would be no reason why this company wouldn't be soaring. But because it doesn't have very *positive sentiment*, it wouldn't pass the cut here even if it seems illogical. + +I also like to put 6 month (and maybe even 3 month) performance filters to "greater than 0" as well so you can see stuff still has good sentiment. Let's set this to "Above 0" for both yearly and 6-monthly. + +**So with the filters of: P/E Ratio <30; Return on Equity >30; Yearly + 6 month Performance >0**, we're already down to only 28 companies on the whole ASX! So what next? + +**Market Cap:** in the most basic terms, how big the company is. Not literally, of course, but relative to its listing on the market. You'll see in this filter that what I always call the King of the Boomer Stocks FMG is the biggest in market cap, and to me it's been the default place to dump any money when I couldn't be bothered doing more research over the past year. + +Find me another boomer stock that's returned over 130% AND pays a ridiculous dividend... I'll wait. One of my other babies, Champion Iron (CIA) was also found doing this method and it's returned about 40% since I've owned it. Note that both of these are influenced by high iron ore prices, however they're both rock-solid companies and require less thought to put money in them than to chuck them in a pointless "HISA" bank savings account which is "high" in name-only during this environment. + +But hey, we're not here to be boomers, so go ahead and **Sort that Market Cap column from Low to High** instead and look for some of the smaller companies: + +Now we're getting interesting... but oh wait, it's full of yet more boring mining stocks - if that's what you're after, go for it and then jump down to the next step, but for me I want to click on the Sector filter and get rid of any "Non-Energy Minerals" classification. + +Once we've purged them, we're now left with 15 companies on the whole ASX. Oh, what do you know - there's CI1 which recently jumped up over 100%, nice. Feel free to browse through its Balance Sheet column and have a look at some juicy financials for a small company if you have the time. + +Otherwise, let's use it as the example for the next step, seeing we don't really know much about the company other than these raw numbers. + +The next place you'll want to go is here: + +**TOOL #2** + +[https://www.marketindex.com.au/](https://www.marketindex.com.au/) + +Why? Great site, fast, simple, clean UI. Just search for CI1 in the search bar, and you'll be directed to here: + +[https://www.marketindex.com.au/asx/ci1](https://www.marketindex.com.au/asx/ci1) + +What we want from here is to scroll down to the **Announcements** section, and click on the "Price Sensitive Only" filter so we can see all the most important company public announcements made to the ASX. + +Find the most recently quarterly or half-yearly report, and take the time to have at least a quick scan over the Financials section if you couldn't be bothered reading the whole thing. + +Does it look like their year on year trends are growing? If so, is it decent growth? Is there anything that could be warping the numbers (i.e: did they get an injection of JobKeeper? Did they sell some assets off so it makes their income numbers look better than they actually are? Do they have plans to diversify from mining to uranium-powered dildos?) + +You can learn a lot about a company from a scan of these. + +This is also often a good time to have a look at the **management team**; most company reports will have a cheesy "Our People" section with each of the bigwigs. + +For those in control of the company, it doesn't hurt to have a look at some of the *past* companies they've been involved in and see how they faired. Did they bomb? Were they kicked out or was there some dodgy shit before they left? All worth factoring in. **LinkedIn** can be your friend here as it details past work history. + +If you're still happy, then you may want to go back and **toggle off the Price Sensitive Only filter** and have a look at recent announcements for Insider buy-offs or sell-offs. + +It's not the be-all and end-all, but a lot of people consider it a bad sign if management of the company are continually selling off their slices of ownership - why would they give a fuck if the company does well if they're not fully invested themselves? + +Once you're pretty confident with this, you're probably at the point where you can jump in and buy from your preferred broker; one other nice little thing I sometimes like to do is jump onto Simply Wall Street and chuck the company into their search bar: + +**TOOL #3** + +[https://simplywall.st/stocks/au/commercial-services/asx-ci1/credit-intelligence-shares](https://simplywall.st/stocks/au/commercial-services/asx-ci1/credit-intelligence-shares) + +It's not perfect, but it's a decent "surface level" reinforcement about where the company sits; if their "snowflake" isn't totally red then the company has at least some fundamentals to base your investment on. Again, if you're after companies like Z1P that are trading on PURE sentiment with just revenue and no real path to profitability, they still show up looking pretty badly here. + +One last thing worth mentioning before you finally buy is probably also: + +**Buy/Sell ratio:** the ASX is literally a market, and mostly works on basic supply and demand like any other economy. E.g: the more people want something and the less people willing to give it up, the more likely the price is to be driven up. + +**Commsec (**[https://www.commsec.com.au/](https://www.commsec.com.au/)**)** is the best platform for seeing this in real time imo; you don't need to actually pay to trade *with* Commsec, just have an account so you can see this list. If there's a lot fewer sellers than buyers, then it's *usually* a good sign that it won't be dumped, but this can also change quickly if there's a lot of people jumping on and off (usually happens with the memes posted on here.) + +So, yeah, that's about it - again, you can play around with the filter numbers higher or lower in Tradingview to scale things accordingly if you want riskier stuff, which is fine. + +I just don't see the logic in gambling money into companies that literally can't prove they can make cash yet when there are nearly 2000 companies in total to choose from. But that's just me, cause I am a semi-pussy. + +And that's how I do *MY* due diligence - how about you? +How to Buy GME etc [Loophole] + +Robinhood and other shitty brokerages are allowing us to buy 2, 5, or very low numbers of GME. However, they are allowing option contracts. + +Here’s a trick that ~~will work.~~ + +**Update Feb 1 [Loophole Closed](https://www.reddit.com/r/ClassActionRobinHood/comments/la6sll/rh_blocks_exercising_of_gme_call_options/?utm_source=adioking&utm_medium=your_mom&utm_name=golden_fuckboy) ** + +1) Go to next nearest option expiration (Feb 5 as of today). +2) Scroll all the way down the call list. +3) Buy GME call option with the lowest +x.xx% (0% would be no premium at mark). +4) Immediately exercise. + +I just exercised 2 contracts and now have 200 shares, blocking the shorts. You can repeat this process over and over if you are buying a lot. + +Best of luck out there! Let’s get them!!! + +P.S. ~~If you can afford 100 shares but can’t afford the risk, you can sell (heh...) some shares after you exercise and take risk off the table.~~ + +_Update:_ A screenshot has made it to me that Robinhood is blocking same day exercise so you would need to carry into the next trading day to exercise. + +_This is NOT financial advice and is for informational purposes ONLY. You can lose 100% of anything you invest._ + +EDIT: + +1) This works for pretty much any stock. + +2) There’s a catch. You need enough money (please don’t use margin) to cover 100 shares. The way exercising works is you pay for the 100 shares at the strike price. + +Example: + +- $GME is $300 +- The 2/5 $50c is $250 so it costs $25,000 +- Cost to exercise would be $50 x 100 ($5000). +- Total cost: $30,000 (same as buying 100 shares) + +After exercising you could then sell shares at open market and de-risk if you like and hold the remainder. +Lesson one is "stock basics" summarized: (2 videos) for every buyer there's a seller, for every seller there's a buyer, fear and greed drives prices, what fundamental analysis means, what technical analysis means. + + +lesson 2 is ETFs summarized: (video 1) Bull markets are opportunities, bear markets are bigger opportunity's, Bear markets never last, always followed by bull market. (video 2) The market is volatile in the short term in the long term it always goes up, what an ETF is, different types of ETF indexes. (video 3) Expands on the different types of ETFs (bonds, commodities etc). (video 3) A 35min video on dollar cost averaging lol. (Video 5) summarizing the last 4 videos. + + +Lesson 3 is Steps to investing summarized: (video 1) A good business increases value over time, a valuable business has higher sales, earnings and cashflow. (video 2) invest in businesses that are undervalued or fairly valued, stocks trade below its value because investors have negative perception of the company + + +lesson 4 Financials summarized (all 4 videos) where to find financials, how to use a website (Morning Star) to screen stocks, how good is the company at making money, Look for companies that have growing revenue, check growth profit margin and net profit margin of company compared to industry. + + +Lesson 5 Stock Valuation summarized (2 videos) go here: [https://tradebrains.in/dcf-calculator/](https://tradebrains.in/dcf-calculator/) and look at what the calculator is asking for, go to Morning Star find the needed numbers that are required, bam you got the intrinsic vale. + + +Lesson 6 Technical Analysis summarized: (all 4 videos) What are candles sticks, what do they mean, support and ceilings, consolidation levels. + + +Lesson 7 The 7 step formula summarized: (3 videos) See what I wrote in lesson 3 and lesson 5. + + +lesson 8 Winning portfolio summarized summarized: (video 1) Diversify, keep portfolio balanced, different sectors (video 2) More sectors, Dividends (video 3) More on sectors, more on dividends, what are different stock caps (large cap, small cap etc) + + +Lesson 9 finding opportunities summarized: (video 1) see lesson 3, (video 2) creating a watch list,monitor news, company announcements, stock price, financials + + +Lesson 10 psychology of success summarized: (2 videos) basically: common sense. + + +Lesson 11 Finding a broker summarized: (1 video) look at fees and commissions, see minimum deposit, check margin rates, make sure it has a good trading platform. + + +I just saved you 18 hours and $1000. +I've been investing for a couple years. Most of my stock picks have been large cap companies, lots of tech and consumer products. I follow trends, buy the dip, yadda yadda. + +About a year ago I started putting extra money into ETFs. For those, I have focused on tech heavy funds, clean energy, next gen stuff- all Vanguard or low cost funds. Now that my portfolio is split evenly between individual stocks and ETFs, I've noticed a surprising trend: + +My ETFs beat my stock picks almost every day. Today is a great example- in a mixed market, my individual stocks are (collectively) down -$195, but my ETFs are (collectively) up $110. And it is like this fairly consistently. On a good day for the markets as a whole, my ETFs are always beating my stock picks. Sure, there are times I have an individual stock that might pop and outperform my ETFs, but more regularly, my collective stock picks rarely outperform my collection of ETF picks. + +I guess I am just saying that I am done trying to pick the next winning stock, spending my valuable time pouring over charts and digging through the news for rumors. I am liquidating my individual stocks and dumping it all back into my ETF picks at the next market dip. + +[edit] SO MANY PEOPLE asking what my ETF picks are. I am not a financial expert, so I don't claim that these are the best, but I have: VGT QQQJ VOO SCHA ARKK and VBIX (which is a mutual fund, not an ETF). My plan is to add some crypto, maybe another ARK, and at least one ETF that focuses on low volatility to hedge against a falling market. +&#x200B; + +https://i.redd.it/bti3667c1ku11.png + +By trading tokens, you admit that you have the required lawful limit and authority to enter under + +a binding legal agreement moreover you have read and agreed to all the terms and conditions + +stated on the website and the Swachhcoin whitepaper. If you don’t agree to the stated terms + +then you must not purchase any Swachh tokens. As the Sale Event is conducted electronically, + +any member might partake over it, provided that he is, at least, 18 years old (or over, as required + +by the laws that may be applicable to each Participant) and that he has authority to enter into a + +binding agreement in order to purchase tokens from this website. 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As the Sale Event is conducted electronically, + +any member might partake over it, provided that he is, at least, 18 years old (or over, as required + +by the laws that may be applicable to each Participant) and that he has authority to enter into a + +binding agreement in order to purchase tokens from this website. It may be each participant’s + +obligation to go along with all relevant laws of participant’s jurisdiction, including anyhow not + +restricted to bitcoin cryptocurrency regulations, tax and contracts laws. Sawchhcoin operators + +under holds no responsibility for your conduct, and will not withhold any taxes for you. We exhort + +that only the individual members with the necessary and pertinent experience and knowledge to + +manage cryptographic tokens, cryptocurrencies and/or blockchain based frameworks participate + +in this sale of tokens. +Pigzbe goal is to help children and their families learn the principles of 21st century finance through cryptocurrency savings and hands-on play. +Financial literacy will be an important 21st-century skill, and finding ways to introduce earning, saving and managing money principles at a young age will help children begin to develop these necessary skills. + +Pigzbe is a digital piggy-wallet for children aged 6 and up, powered by Wollo, your child’s first cryptocurrency. Think of Pigzbe as a friendly, tangible financial assistant that will teach children the principles of modern money in an exciting and safe system that harnesses children's natural drive to learn through self-correcting, +practical experimentation. + +Wollo is Pigzbe’s native token, and when used with the Pigzbe digital wallet provides an effective, age-appropriate learning experience for children, while enabling families to come together as microfinancing networks. + +Pigzbe is here to contribute to the building of an open, decentralised world where financial education is accessible to anyone, anywhere. Our goal is to accelerate the uptake of cryptocurrencies globally with a token, and a product, designed to empower the young and young at heart. + +Pigzbe combines the latest in connected technology, tangible interface design, and blockchain technology to reach an a new generation of children and families by ushering in a new piggy-banking paradigm powered by their children’s first cryptocurrency and wallet. + +https://www.pigzbe.com/ + + +Navibration, a Spain-based technology company with a patented technology that has been backed by the Government of Spain, is creating a next-generation navigation system which will redefine not only the way we move in unknown places but all of the details and secrets of them. All this will be achieved through Navibration Experiences, where content will be created by the users. Each new tour created will be available for sale on the platform and will be controlled by smart contracts to ensure transparency, proper incentives, and user engagement. + +Navibration is the world’s first decentralized social network of audio-guided (which is geolocated) routes from different cities globally and also known as Navibration Experience. Navibration is a navigation system by vibration with which an individual can move about anywhere in the world with no Internet connection or maps, and no need to look at your device. It is designed wholly for use on foot. It is a Patented navigation system. Participants of this platform will be rewarded equally base on their contribution. The Blockchain technology is incorporated into the Navibration Experience ecosystem with a multiplatform tool that is made available on these platforms: desktop version, tablets, and smartphones. + + +I am a consistently profitable Day Trader. I say this because you should not take advice from someone that isn’t successful enough to make a living at it. Of course anyone could say this, so judge the quality of the advice for yourself. + +I’ll also note that I’m an asshole. Not to everyone though. If you really need help and you’re clearly putting in the effort, I’ll give you my time and energy to help improve your trading. But if your lazy and just want to make quick $$, I’m going to call you out. + +As I’ve said before in other posts - Day Trading is NOT easy. Anyone that tells you otherwise is either an idiot or trying to sell you something (or both). + +I’ve also said that even though it is difficult, it is very doable. If you put in the time and effort there is no reason you can’t be a profitable Day Trader. + +Around six months ago I wrote out some tips on here, these can be added to those, although some are repeated given how important they are. + +So, in no particular order: + +1 - Do not restrict yourself to just “Day Trading”. Every great Day Trader is also a great Swing Trader. Anyone who tells you that Day Traders never hold positions overnight immediately disqualifies themselves from saying anything else, as they are a moron. In fact, I typically won’t Day Trade a stock unless I like the Daily chart. Why? Because let’s say I buy a stock and the market reversed. Now if I picked the right stock (more on that in a bit), it won’t drop as much as the market does, but I’m still down on it. For this example I buy 2,000 shares of stock XYZ at 50 and SPY goes from 390 to 388.20. The stock might drop to 49.60. I know the stock is strong, the technicals are all in line, and it’s well above its Daily support indicators. I also know SPY hasn’t had a technical breakdown. Rather than take the $800 loss, I can hold XYZ confident that on the next bounce for the market that it will go above $50. + +The point is - be flexible. + +2 - Speaking of being flexible, have many different tools in your trading repertoire. You don’t have to just go Long or Short. Sometimes a better play might be a Call Debit Spread for instance. Many mornings I’ll see a volatile stock up a lot (Boeing for example). So instead of buying the stock, I’ll do a CDS instead. On BA I did a 255/260 CDS for a $1.20 debit, and sold it later for a $3.60 credit - a 200% return (gave $120 per contract, got $360 per contract, for a net gain of $240 per contract). I might have made more just buying the stock, but instead I took a conservative approach just in case the market reversed. + +3 - Do not hold a position, either in stock or options, through earnings. The result is too unpredictable with the stock, and the options will lose tremendous value through IV reduction. It’s a pure gamble. + +4 - Get off that one stock. Maybe you got your ass kicked by a stock early in the day. So you keep going back to it so you can get “even”. At the end of the day your account doesn’t care if you lost $1,000 in one stock and made $1,000 in another. Choose the stocks based on the market and the technicals, not because it “beat” you earlier in the day. + +5 - Stop chasing losses and/or prematurely taking profits. Traders tend to stay in losing trades longer than they should, and exit profitable ones too early to lock in their gain out of fear. This also goes for averaging down - don’t do it. Averaging up works a lot better. + +6 - Understand your trade before you enter it. If you buy a Stock at $50, do you know what your stop will be? Do you have the right entry? And with options, what is your exit strategy if it goes against you? Know where is support/resistance, VWAP, etc. And most important - what is the market doing? Note - I rarely use stops, almost all of my stops are mental, but this is an individual traders choice. I’ll just note that you should not be using stops on stocks that have huge swings. You’ll get knocked out of a trade before you ever had a chance. + +7 - If you don’t fully understand something, don’t do it. For example, don’t enter into an option spread unless you completely get how it works, how to leg out if it goes against you, and when to take profits. Take the time to learn it before you do it. + +8 - Very Important, perhaps most important (I did say these would be in no particular order) - when Day Trading you want to be going long on stocks that have Relative Strength against SPY and short on those that have Relative Weakness. I am NOT talking about RSI (a crap indicator btw). I’m talking about when SPY drops during the day, notice which stocks held up. Those are the ones you want to buy when SPY rebounds. I can not stress enough how important and central this is to your success. A vast majority of stocks will follow the market. If on the 5 min chart SPY is down down down and stock XYZ is up up up, or even flat, you know that stock is strong. That’s the one you want to have when SPY rebounds. + +9 - Many Day Traders trade on their own. However I have found that trading in a solid community of traders, with a great chat room only increases your success. Especially for beginners. + +10 - However, if you’re in that chat room, don’t chase someone else’s day trade unless you analyzed it yourself. You may miss some opportunities doing this, but you’ll also prevent yourself from being trapped in a trade you didn’t understand. + +11 - The idea you “missed the big move” has no basis in reality. If stock XYZ is up $20 you might figure you already missed the action and move on - this is a mistake. Look at the technicals. Chances are this is still a good opportunity, especially if there is relative strength against SPY. + +12 - You’re not smarter than the market. You haven’t thought of something that others haven’t already considered. This type of thinking leads you to make decisions before you have technical confirmation that you’re correct. Institutional buyers have more resources and information than you, and whatever you’re thinking, they’ve considered. You can see the actions they took by looking at the charts. Your decisions should be based on the charts, not because you think NFLX will go down since the pandemic is ending. That’s not “brilliant insight”, it’s just a way to go broke. + +13 - Day Traders trade what is in front of them - price action, technicals on the Daily and 5/1 minute (mainly), market conditions of that day, volume, etc. A great trade at 10am could be a terrible idea an hour later. You need to be nimble, to move quickly and to trade what you see at that moment. + +14 - If you’re too anxious about any one trade your position size is too big. + +15 - Don’t overtrade. Sometimes Day Trading is boring. Don’t force a trade just because you haven’t traded in awhile. Wait for the right opportunity, it will come. Last Thursday, I hadn’t traded for two hours, and then SPY started dropping. I notice BHC was still going up. I bought 5,000 shares at 33.25 and exited at 33.75. 50 cent gain for $2,500. Small example, but the point is, I waited for my moment. + +There are many more tips but hopefully this list is helpful. + +Also, reading through this forum I see a constant stream of bad advice. I also see a never-ending army of trolls that disrupt any worthwhile post. I know many successful Day Traders that won’t post on this forum specifically because of the trolls. Personally, I don’t care...I’m sure they’ll pop up here once again, as always. Just know that they will get ignored unless they ask a legitimate question. + +Good luck! + +EDIT: I’ve gotten so many chat requests that Reddit won’t let me respond to them all. So if I haven’t responded to you, either send me a direct message or wait a bit and I’ll hit you back when they open it up again. +Yeah that’s right, I fucking said it. + +I’ve noticed the FUD campaign has been shifting lately, It’s shifted towards calling al you retards actually retarded for buying GME at it’s height. While yeah, buying high and selling low is actually retarded, I am not disputing that. + +But what I’ve noticed is that no one seems to be mentioning the fact that Robinhood (and by extension the DTC) LITERALLY HIT THE ‘OFF’ SWITCH ON BUYS. That’s fucking right it was a great play before 28/1 even at 300 or 400. (If you bought at 300 after 28/1 you may actually be retarded) + +The FUD campaign (or general memory loss from all the weed stonks) has made most of you forget that WE WERE FUCKING ROBBED. + +Never forget that GME is not over. + +Never forget that we were ROBBED of millions of dollars, not only in evaporated gains, but in actual investments with hard earned cash. + +20@226$GME 26/1 + +Edit: DTC + +Lots of people seem to be understanding this post as saying GME will go up diamond hands etc. This is not what the purpose of this post is. + +The purpose of this post is to make people remember that this was not fair play. + +If all you retards calling me retarded and delusional could learn to fucking read, that be great. + +Edit 2: + +As a response to all the arguments that it wasn’t a great play purely based on the fundamentals. + +It was never about the fundamentals in the first place, it was a risky bet based on the incoming short squeeze that was purely stopped dead in it’s tracks because of the RH/DTC restrictions. +The only reason I can think of is that cutting Russia off from the SWIFT network would push some countries to adopt a blockchain-based monetary system, which in turn would reduce their reliance on a US-centric international monetary system. + +Is this the main fear? Is it the ONLY fear? +I recently became a millionaire this past month at the age of 29, but realized that my life has not materially changed in any way. I still have to continue going to my day job as I can't afford to live off my investments in my HCOL area. I've done some calculations and my fatFIRE number is 7-8M. I would be able to live very comfortably on that number and could splurge here and there but I would still need to budget. With inflation, that number could be 10M when I turn 40 in a decade. This is also assuming that I stay single and/or have no kids in the future. + +Growing up, being a millionaire was always viewed as extraordinary accomplishment and it still is, but today a million dollars doesn't take you very far. The term millionaire was created in the 1700s or 1800s. Adjusted for inflation, a million dollars in 1900 would be worth around 30M today. I don't think you need 30M to be considered rich, but a millionaire is not what it once used to be. +I recently received a $100,000 inheritance and would like to invest for long-term growth. I'm 29 and my time horizon is long (\~30 years). I already own a mix of value stocks, tech, and index funds. + +Given the current market situation, would you invest $120,000 right now or wait several months to see if there is an additional correction? I am strongly considering holding cash or perhaps spreading out my buys over a period, but am unsure what my plan should be. + +**P.S.** I know the correct answer is "It won't matter in 30 years." But let's ignore that for the sake of this post. +Just curious. Always been interested in RE investing, but since looking at it closer, I’ve been wondering whether it’s the best use of my cash. + +Enlighten me ! + +EDIT: I mean historic stock market returns of 6% +I don't know if someone else here can relate. But after hitting my number I started enjoying much more of the free things I couldn't do while I was too busy making money. Playing chess, going for a swim in the ocean, going for a hike, walking my dog, cooking. About 99% of things I enjoy the most now are free. And they have always been free but I just couldn't enjoy them much before because for some reason I was always feeling guilty about not being rich enough or something. +Hey everyone, I wasn’t quite sure what sub to ask this on but this one seemed the most appropriate. The title kind of says it all. I’m 20 years old, relatively fit and getting better everyday, no real close friends, pretty disconnected from family, and no SO (not that I’m here for the pity party). I’m going to a community college currently and I’m almost finished with an AA in Psychology. Took me a couple years but I don’t think college is really for me. I’m currently working a minimum wage job with no chance of a promotion (my boss said that herself) and it gets me just enough to put gas in my car and occasionally get a decent meal. I remember in high school we’d always have military people over basically saying you can find your purpose in the military. Would a military career work out in both short term and long term? Just looking for any advice at this point. + +I’m on mobile so sorry for any mistakes. + +Edit: Well this got bigger than expected haha. I just got off work and I want to thank everyone who took some time to help me out. I got a ton of messages, I’ll try my best to respond to each one. Thanks everyone, for the advice and words of wisdom. I have a lot to think about to say the least. + +Edit 2: Just finished reading the last of the messages I got, I really appreciate everyone that took some time to message me and offer advice. Thank you to everyone who shared their story and experiences with me, and thank you for your service. I still need to look into what job specifically I want to do, most people said to look for one that would be useful in the civilian sector. I definitely plan on continuing my education, especially if the benefits help cover it. I’ll spend my day doing some research, responding to some messages, and looking for recruiters. Thanks everyone. +I've noticed an up tick in posts about people feeling they're a failure, starting too late and unhappy about their savings rate. + +My guess is that in many cases people feel like this because there are posts frequently about people on $100K a year with $150K in savings and asking what to do with their money. + +For all who a are anxious about this, let me tell you. Majority of people in Australia and on this sub are not earning such amounts and many do not have anywhere near as much savings. They are outside the bell curve! Do not compare yourself to such earners! + +If you're $50K a year and manage to save $20K - 25K you are doing very well. In 2 years that's $50K, in 4 years it's $100K (Not including any interest growth). + + +To all that are saving $5K a year, you are doing well. Keep going. + +To all that are saving $10K a year, you are doing well. Keep going. + +To all that are saving $20K a year, you are doing well. Keep going. + +Do not let doubt get in the way of your savings. Savings is cumulative. + +"Water can break concrete with enough time" + +Just keep plugging away fellow AusFinance members! +[ARTICLE](https://www.cnbc.com/2019/01/11/apple-iphone-retailers-are-slashing-prices-across-china.html) + +&#x200B; + +The Iphone gig is up. + +Apple Inc. is fine, since it has more than enough cash the weather the storm. + +The investors who bought the stock near the peak, on the other hand.... +Edit: Sorry forgot to mention investors asked to choose a number between **0 and 100** + +Response frequency provided here: + +[http://imgur.com/bbaDc.jpg](http://imgur.com/bbaDc.jpg) + +The highest possible correct answer is 67. To go for 67 you have to believe that every other muppet in the known universe has just gone for 100. The fact we got a whole raft of responses above 67 is more than slightly alarming. + +You can see spikes which represent various levels of thinking. The spike at fifty reflects what we (somewhat rudely) call level zero thinkers. They are the investment equivalent of Homer Simpson, 0, 100, duh 50! Not a vast amount of cognitive effort expended here! + +There is a spike at 33 - of those who expect everyone else in the world to be Homer. + +There's a spike at 22, again those who obviously think everyone else is at 33. + +As you can see there is also a spike at zero. Here we find all the economists, game theorists and mathematicians of the world. They are the only people trained to solve these problems backwards. And indeed the only stable Nash equilibrium is zero (two-thirds of zero is still zero). However, it is only the 'correct' answer when everyone chooses zero. + +The final noticeable spike is at one. These are economists who have (mistakenly...) been invited to one dinner party (economists only ever get invited to one dinner party). They have gone out into the world and realised the rest of the world doesn't think like them. So they try to estimate the scale of irrationality. However, they end up suffering the curse of knowledge (once you know the true answer, you tend to anchor to it). + +In this game, which is fairly typical, the average number picked was 26, giving a two-thirds average of 17. Just three people out of more than 1000 picked the number 17. + +I play this game to try to illustrate just how hard it is to be just one step ahead of everyone else - to get in before everyone else, and get out before everyone else. Yet despite this fact, it seems to be that this is exactly what a large number of investors spend their time doing. + +Originally sent in an email newsletter by John Mauldin at http://www.frontlinethoughts.com/ +It does not matter if you invested in GME, made money on NOK, or you are just interested in the stock market. + +Today different brokers took down from MILLIONS of retail traders the opportunity to partecipate actively in the stock market to save some billionaires hedge funds. + +In the last generation most of the people thought about the stock market as something abstract and only reserved to the richest getting richer, only having a clue about what Wall Street is thanks to movies. + +For few years in wich the possibility to partecipate was estended to a lot of retail users, and guess what happened? Most retail users (up to 80%) lost money having no idea what they were doing. + +In the last few weeks GME has been the opportunity for normal people to take something back from the people controlling the market, and when they were finally succeeding, guess what? + +They cut us out. + +I do not know how today will be called but it will go down in history books after the Wall Street Crash of 1929 and the crash of 2008. +The cost of recruiting, onboarding/training, etc often exceeds the cost of paying an already established employee more. Just remember that next time you talk yourself out of asking for a raise. + +Edit: Ok, so I've only been responding to push notifications and didn't realize this is the top post on Personal Finance. Wowsers. + +Also all of you have provided so many good comments and insights I failed to point out. What a sub you have here. + +Edit: My phone is so old that trying to turn off the push notifications is causing it to freeze. Front page life is hard. I'm still in disbelief this made the front page. More importantly the collective participation has been amazing. From useful to funny, you guys killed it. Thanks to employers who weren't afraid to offer their own food for thought. It made for a more valuable thread. +I setup a WealthSimple account last year with a plan to contribute $250 every two (2) weeks. I'm not too well versed in investing so figured this would be ideal. + +I choose the investment plan with a risk level 2. The portfolio is 35% Equities and 65% Fixed income & Gold. + +Recapping the year, the portfolio had a net deposit of $9,500 with a current MV of $9,436.28, total return of -$63.72 (-0.7%). + +The Fixed income & Gold holdings have gone down in Feb 2021, which is resulting in the decrease for the overall portfolio. However, wondering what are your thoughts on this strategy and any recommendation to improve my overall return? + +Thanks! + +Edit: Thanks everyone for the comments/insight! When I setup the portfolio, it recommended a level 2 risk level. It’s my fault, didn’t really look into it and just accepted it. I’m in my early 30s so will bump up the risk level for sure and look at other ETF options as recommended below. +AutoModerator has been up all night looking at charts and seems to have fallen asleep + +*** + +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! + +I am 17 planning to major in Economics. The problem is I only read 5 pages in an hour. The book is filled with history and unnecessarily deep words. Should I have basic knowledge of history first before reading "Why Nations Fail"? What should I learn first before reading this book? +As far as I know, Buffett hasn’t made any great buy for 15 years, except for Apple. I wonder why. + +Has Buffett lost his investing edge? + +Or is that the nature of great value investing opportunities; they can be absent from the market for as long as fifteen years. + +Or has Buffett actually made great buys in the past 15 years that I’m not aware of? + +What do you think? +This will be pretty long, so apologies for my A.D.D bretheren and sistren out there. + +So after seeing this recent influx of new investors we've had and what seems like a large amount of people throwing money away by getting burned following pump and dumps, being the empathetic cunt I am I thought it would be a good idea to create a thread where we can dive in a little bit to our own (basic) DD processes for finding companies to invest in. + +Note I said INVEST IN; i.e hold for more than a week at a time without being impatient. I know that might be against the "spirit" of this sub, but there's nowhere else on Aussie reddit where we can talk about a balance of trying to get growth without boring cunts telling you if you aren't putting all your money in a white bread boring ETF, you're basically acting like Scarface with a mound of cocaine. + +And yes, we know, "i JuST pIcK tHe sToCK wItH ThE MoSt rOcKeTs hAr hAr 🚀🚀", but if you legit just want to keep throwing your money away then by all means - it's your money. + +Note this is going to be more on the surface level, not going into things like Technical Analysis (TA, aka dissecting graphs, also aka "reading tea leaves"), and more about what are good tools out there, what are useful metrics to know about companies to try balance safety vs. rockets, and where to find them, etc. + +Again, this is just how \*I\* do it to try and find stuff that's still fun enough/good returns while not just being joke gambles, and note I'm not saying I'm either some badass investor multimillionaire or a professional advisor. + +My intent here is influenced by my own wasting money/being a dumbass a couple of years back, just like you guys are now, and buying into shit like BRN too high at peak meme level and being left bag holding - which is literally what I'm aiming to warn you against here so you don't have to go through the same shit. + +So, let's get started with the first things you'll need - the tools. In some ways we're really fortunate to have so many options online nowadays for companies that offer analytics and screening tools for stocks, but in other ways we're not as a lot of them are pretty shit. + +There's really only a couple of things you need to get by in my opinion for initial, screener-level DD, without having to spend hours and hours of your day diving into boring shit. + +**TOOL #1** + +That said, your first stop should be to bookmark this URL: + +[https://www.tradingview.com/screener/](https://www.tradingview.com/screener/) + +I've tried pretty much every other tool out there online, and only **Tradingview's** screener offers the best combination of: + +* Free +* Quick/responsive UI +* Excellent range of filters +* Works on most devices +* Has Dark Mode so it doesn't burn my eyes (personal preference) + +It's worth just making a Free account so it can remember your preferences etc.; I don't see any reason to pay them money for the basic needs, but if you want more advanced stuff feel free. + +This tool provides pretty much every listed company on every major exchange in one spot; since we're here to lose money on the ASX though, you just toggle the little "flag" icon on the top right to Aus, and you're ready. + +**THE FILTERS** + +Now, this will depend on a lot of things regarding your personal investment "strategy" and risk tolerance, but bear in mind the whole point of filtering is to exclude shit companies that have crap figures that make them less safe - or at least have growing revenue if you're after specs. + +If you're after the pure gamble route of chucking money onto a company that people are hyping based on raw sentiment in the hopes of fluking a multi-bagger (aka a stock that goes up several hundred %), then you should probably leave this thread and go into the daily and chase whatever Pump and Dump is being pushed today and hope you get lucky. + +You literally might as well just go bet on a horse with this "strategy" and forget the stock market. + +For me PERSONALLY, what I try and look for is stuff that walks the line between Boomer (yawn) and Rocket (gambling). + +That is to say, stuff that isn't going to be a snoozefest ASX200 company (with some exceptions) and gain you Ausfinance-like 10% max gains per year, but also not dogshit that makes no money and relies purely on media coverage or social media bandwagon crap that will die as soon as the hype dies down and leave you holding worthless bags. + +The goal *FOR ME PERSONALLY* (get the idea yet?) is to try and find stocks that end up with gains within the 50%-80% range... any higher, awesome what a bonus; any lower, and well as long as they end up around the \~20% gain mark then you're still pissing on pretty much any other mildly safe spot to put your money into in the current climate. + +So, some metrics to become familiar with - + +**Price to Earnings (P/E ratio):** yes, I know this is to ASX\_Bets what kryptonite is to SuperAutist, but it's one of the most basic figures to determine at least one main aspect of a company's general value relative to the share price. + +It's also good because it can literally scale with your risk tolerance; if you want riskier stuff, then just scale the P/E ratio higher. Of course, this doesn't work for spec stuff that doesn't actually *have* a P/E ratio; in those cases, I tend to use **Commsec** or a similar tool under "Company Financials" to look at the yearly revenue and see if it's at least trending up as a substitute. + +When most analysts out there say that "the stock market is currently overvalued", they are typically looking at its total P/E ratio. In this case, higher = more and more overvalued, and basically, "risky" a company is. + +At the moment, there are 1799 ASX companies listed on Tradingview in total; if I put in a P/E Ratio of Below 30 into its filters, that number quickly drops to 321, which is a good initial sign about how many companies aren't earning decent coin relative to their listed price. + +Totally depends on how risky you want to go, and the lower the number generally the lower the "rocket potential" will be (but still not always). + +**Return on Equity (RoE):** literally, shows how much income they made vs. the amount the shareholders own. Again it's a nice way to show how well a company uses the investments they get to make profit. The higher = the better they are at making money from equity. Let's set this to a minimum of 30 for the sake of this discussion. + +**Performance - yearly:** this is how what I try and do differs from "value investing" a.k.a pure Warren Buffet style Boomer stuff, which traditionally tells you to find stuff that has been down and in the red for the past X amount of time but is actually worth more, buy in and be patient, blah blah. + +I prefer to look at stuff that has been in the green over the past year as a sort of 'sentiment filter'; I just set this to "greater than 0" personally. + +Here's an example of why the "sentiment factor" matters. Let's take a look at the company **Zimplats (ZIM)** which otherwise almost always scores massively high on filters like this. + +*Edit: at the time of posting this DD guide, ZIM was still wallowing around in negative sentiment. It passed a 'qualified audit' soon after (in February 2021), which turned the sentiment around greatly and the resulting jump in their chart you'll see happened. The overall point still stands, however.* + +Massively profitable, extremely low P/E ratio, continually growing revenue... yet take a look at its performance the past year: + +[https://www.marketindex.com.au/asx/zim](https://www.marketindex.com.au/asx/zim) + +Looking at raw value, you'd think there would be no reason why this company wouldn't be soaring. But because it doesn't have very *positive sentiment*, it wouldn't pass the cut here even if it seems illogical. + +I also like to put 6 month (and maybe even 3 month) performance filters to "greater than 0" as well so you can see stuff still has good sentiment. Let's set this to "Above 0" for both yearly and 6-monthly. + +**So with the filters of: P/E Ratio <30; Return on Equity >30; Yearly + 6 month Performance >0**, we're already down to only 28 companies on the whole ASX! So what next? + +**Market Cap:** in the most basic terms, how big the company is. Not literally, of course, but relative to its listing on the market. You'll see in this filter that what I always call the King of the Boomer Stocks FMG is the biggest in market cap, and to me it's been the default place to dump any money when I couldn't be bothered doing more research over the past year. + +Find me another boomer stock that's returned over 130% AND pays a ridiculous dividend... I'll wait. One of my other babies, Champion Iron (CIA) was also found doing this method and it's returned about 40% since I've owned it. Note that both of these are influenced by high iron ore prices, however they're both rock-solid companies and require less thought to put money in them than to chuck them in a pointless "HISA" bank savings account which is "high" in name-only during this environment. + +But hey, we're not here to be boomers, so go ahead and **Sort that Market Cap column from Low to High** instead and look for some of the smaller companies: + +Now we're getting interesting... but oh wait, it's full of yet more boring mining stocks - if that's what you're after, go for it and then jump down to the next step, but for me I want to click on the Sector filter and get rid of any "Non-Energy Minerals" classification. + +Once we've purged them, we're now left with 15 companies on the whole ASX. Oh, what do you know - there's CI1 which recently jumped up over 100%, nice. Feel free to browse through its Balance Sheet column and have a look at some juicy financials for a small company if you have the time. + +Otherwise, let's use it as the example for the next step, seeing we don't really know much about the company other than these raw numbers. + +The next place you'll want to go is here: + +**TOOL #2** + +[https://www.marketindex.com.au/](https://www.marketindex.com.au/) + +Why? Great site, fast, simple, clean UI. Just search for CI1 in the search bar, and you'll be directed to here: + +[https://www.marketindex.com.au/asx/ci1](https://www.marketindex.com.au/asx/ci1) + +What we want from here is to scroll down to the **Announcements** section, and click on the "Price Sensitive Only" filter so we can see all the most important company public announcements made to the ASX. + +Find the most recently quarterly or half-yearly report, and take the time to have at least a quick scan over the Financials section if you couldn't be bothered reading the whole thing. + +Does it look like their year on year trends are growing? If so, is it decent growth? Is there anything that could be warping the numbers (i.e: did they get an injection of JobKeeper? Did they sell some assets off so it makes their income numbers look better than they actually are? Do they have plans to diversify from mining to uranium-powered dildos?) + +You can learn a lot about a company from a scan of these. + +This is also often a good time to have a look at the **management team**; most company reports will have a cheesy "Our People" section with each of the bigwigs. + +For those in control of the company, it doesn't hurt to have a look at some of the *past* companies they've been involved in and see how they faired. Did they bomb? Were they kicked out or was there some dodgy shit before they left? All worth factoring in. **LinkedIn** can be your friend here as it details past work history. + +If you're still happy, then you may want to go back and **toggle off the Price Sensitive Only filter** and have a look at recent announcements for Insider buy-offs or sell-offs. + +It's not the be-all and end-all, but a lot of people consider it a bad sign if management of the company are continually selling off their slices of ownership - why would they give a fuck if the company does well if they're not fully invested themselves? + +Once you're pretty confident with this, you're probably at the point where you can jump in and buy from your preferred broker; one other nice little thing I sometimes like to do is jump onto Simply Wall Street and chuck the company into their search bar: + +**TOOL #3** + +[https://simplywall.st/stocks/au/commercial-services/asx-ci1/credit-intelligence-shares](https://simplywall.st/stocks/au/commercial-services/asx-ci1/credit-intelligence-shares) + +It's not perfect, but it's a decent "surface level" reinforcement about where the company sits; if their "snowflake" isn't totally red then the company has at least some fundamentals to base your investment on. Again, if you're after companies like Z1P that are trading on PURE sentiment with just revenue and no real path to profitability, they still show up looking pretty badly here. + +One last thing worth mentioning before you finally buy is probably also: + +**Buy/Sell ratio:** the ASX is literally a market, and mostly works on basic supply and demand like any other economy. E.g: the more people want something and the less people willing to give it up, the more likely the price is to be driven up. + +**Commsec (**[https://www.commsec.com.au/](https://www.commsec.com.au/)**)** is the best platform for seeing this in real time imo; you don't need to actually pay to trade *with* Commsec, just have an account so you can see this list. If there's a lot fewer sellers than buyers, then it's *usually* a good sign that it won't be dumped, but this can also change quickly if there's a lot of people jumping on and off (usually happens with the memes posted on here.) + +So, yeah, that's about it - again, you can play around with the filter numbers higher or lower in Tradingview to scale things accordingly if you want riskier stuff, which is fine. + +I just don't see the logic in gambling money into companies that literally can't prove they can make cash yet when there are nearly 2000 companies in total to choose from. But that's just me, cause I am a semi-pussy. + +And that's how I do *MY* due diligence - how about you? +I’m trying to escape the scam artists flooding in. This seems like the last refuge for those fleeing shitposters and stock pumpers. Does anyone know any other subs where the r/pennystocks and wsb veterans might be moving to? Thanks lads! Canadian btw:) +So about 3 weeks ago I had a hernia repair done. After meeting with the surgeon, speaking with the scheduler and my insurance, I was told that my surgery was going to be completely paid for by the insurance, as I had already met my deductible and my company's insurance is pretty good. + +A couple of weeks after the surgery, everything got billed out and just like I was told, I owed nothing. However, a couple of days ago I saw that a new claim popped up and that I owed $2,702 for a service I didn't know what it was. I checked my mail and there was a letter from American Surgical Professionals saying that it was determined that surgical assistant services were necessary to the procedure. The letter also said that as a "courtesy" to me they bill my insurance carrier first, and surprise, they said they weren't paying, so I have to incur all costs. I was never aware of any of this, nobody told me this could happen and I was completely out and had 0 control over what was going on during my surgery. + +Why is this a thing? Isn't this completely illegal? Is there any way I can fight this? I appreciate any help. + +EDIT: Forgot to mention, the surgery was done at an in-network hospital with an in-network surgeon. + +EDIT2: Since I've seen many people asking, this happened in Texas. + +EDIT3: This blew a lot more than I was expecting, I apologize if I'm not responding to all comments, since I am getting notifications every two seconds. I do appreciate everyone's help in this, though! Thank you very much, you have all been extremely helpful! + +EDIT4: I want to thank everyone who has commented on this thread with very helpful information. Next week, I will get in touch with my insurance and I will call the hospital and the surgeon as well. I will also send letters to all three parties concerned and will fight this as hard as I can. I will post an update once everything gets resolved. Whichever way it gets resolved... + +Once again, thank you everyone for your very helpful comments! +**EDIT 2: See top comment chain from the mods. I'm satisfied and thank them for their diligence.** + +Original post: + +Constantly seeing the *thetagang* feed being flooded with 80%, 300%, 2,500% gains. Not only is that blatantly ex-WSB bros upset that they can't get their sweet karma on that cesspool anymore, but there's also almost never an explanation of a strategy that was used. + +"Long Tesla" is not a theta strategy. + +"GME $800 puts" is not a theta strategy. + +Can a rule be added similar to "positions or ban"? Positions & strategy or the gain posts get removed? + +**EDIT:** + +* It doesn't need to be long or complicated. Even "Mostly sold 20-delta CSP's on RKT" is fine. +* For those saying "but I use other strategies too!" and "but it's all *options!"*: would you go into r/BMW and post about your Audi saying "but they're both *cars!*". No. That would be ridiculous. Of COURSE we also use other strategies or made 600% on TSLA or hold long stock positions. This isn't r/optionsgang or r/investinggang, it's r/thetagang. Let's keep it that way. +**EDIT 1: There is an issue with Reddit right now and my images are not loading. I've added IMGUR links instead. Furthermore, I cannot see the upvote total for this post, which is still stuck at 1.** + +**EDIT 2: The comments in EDIT 1 seem to be fixed now. I also added an example of how the additional deposit could have been made in shares rather than cash. This would force the short seller to buy enough shares to meet their new margin requirement. Otherwise, it was a legitimate margin call to cover a short position.** + +**\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_** + +There are significantly underfunded short positions on GME. With the recent spikes in price, it puts an even bigger strain on these positions because they must deposit more money to keep their accounts current with the new price. I'll use some simple numbers to describe what this means. + +If you have $100 in a deposit account to "cover" your short position and the price skyrockets, you must make an additional deposit to meet the new price. So the account holder will deposit an additional $20 to make their account current. To do this, the short seller can either deposit shares or cash in their account. If you cannot meet this requirement, a [margin call](https://www.investopedia.com/terms/m/margincall.asp) will occur. I believe the uptick in volume this morning resulted from short sellers purchasing enough shares to meet the new requirement. It could also be from them covering the position, directly. I could be wrong but the outcome is still the same. Take a look: [https://imgur.com/vdzZUaa](https://imgur.com/vdzZUaa) + +https://preview.redd.it/qg1iw979a2471.jpg?width=1891&format=pjpg&auto=webp&s=0bd6b0348a886d8fd229f23a213028d94991b8fa + +We had at least 2,000,000 shares traded within 20 minutes which boosted the price by roughly $45. This means there are now MORE positions which are underfunded and must make additional deposits to meet the increase in exposure. Ergo, we should have a domino effect. The "sideways" trading occurs between these purchase periods because retail investors continue to diamond hand their stonk. + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +What does this mean? Volume upticks like this will drive the price up. Once that spike is over, the price will trade sideways (basically) until another volume spike occurs. We know this because apes basically forgot how to use the sell button. This will send the price up again. Rinse, wash, repeat. + +However...... + +Think back to the House of Cards - Part III. Remember the example I gave of Goldman Sachs when they were being "bought in"? What did they do? + +They shorted **EVEN MORE** than they purchased on that day to keep the price down. As I am writing this, it is literally happening with GME. + +[https://imgur.com/abvlt1L](https://imgur.com/abvlt1L) (pictures AND links are really f\*ckey with Reddit right now) + +https://preview.redd.it/lxhaj37aa2471.jpg?width=1902&format=pjpg&auto=webp&s=c5d787fa3fdcd6cc783da7c052338821129d9874 + +I honestly do not believe this is retail selling, but rather, a flash-crash to drive the price down. I wrote about it in Citadel Has No Clothes when it happened on March 10th. I would have a hard time believing this a few months ago, but after seeing Goldman Sachs get caught doing the same exact thing, it's become obvious: this is their textbook move. The goal is to return the price to a point it was at prior to the increase this morning. Obviously, this will prevent more market makers & broker-dealers from having to make additional deposits. + +This is not normal behavior and is HIGHLY unlikely that retail is responsible. Prepare for EXTREME volatility and know that these actions are performed to prevent OTHER BROKER-DEALERS from being margin called. + +As you continue to hold, **THEIR** problem will become worse and worse. It will **ONLY** work if you sell. Once the short attack is over, you should see the price rebound. We know that $350 has been a dangerous point for them because they triggered a flash crash at $350 on Mar10 (Mario day). Low and behold, they *done-did-it* again + +[https://imgur.com/NnLH3We](https://imgur.com/NnLH3We) + +https://preview.redd.it/d813st4ba2471.jpg?width=1893&format=pjpg&auto=webp&s=e0080c01e8e2a8061c2f771bf4ba9aedf10cf79c + +To me, this is us catching them in their lies. There would be NO NEED for this if their positions were covered. It is blatant market manipulation and we are SUFFOCATING THEM. + +DIAMOND.F\*CKING.HANDS + +\*Not financial advice\* +I have always read and followed the teachings of benjamin graham. The intelligent investor is one of my favorite books. But a month ago I found a group based around speculation and the next 🚀 going to the moon. Well to make a long story short i wiped out 100% gain from a 8 month investment to being negative 25%. Hardest lesson ever learned. I'm sticking with value investing and the ways of obi-wan-kenobi I mean benjamin graham. I had the hardest time pulling the trigger on it because it went against everything I have ever read. But the moon was just so tempting. I went away from value investing to pure speculation and lost huge. Lesson of this story is I'm retarded and glad to be here. +https://twitter.com/DanPriceSeattle/status/1309696726425628672 + +Restaurant industry profit margins are very low, so it seems to me that any franchise paying this much would be bankrupt instantly. +So I’ll start by saying that I don’t believe in Bitcoin as an investment and have never invested in it or have any regret about not doing so. + +It’s bugging me that many friends and colleagues who have never invested (other than blindly into a pension) are now an expert on Bitcoin and how I’ve got it all wrong but can’t explain where the value is or what the actual investment is other than it’s of a limited supply and gets infinitely harder to mine. + +Its also become much more accessible than last time with the likes of revolout allowing quick currency exchange into it and others, the ease of it again will push the value up. + +Then you have ‘influencers’ who are on the band wagon too singing it’s praises. Not to mention the likes of Elon Musk’s musings. + +There’s talk of it being recognised by the worlds biggest economies UK/USA/China etc, but why would they recognise it and not just create a new crypto currency and then have total control rather than a crypto currency they can’t control. + +Then there’s the environmental factors, latest reports are that Bitcoin uses more energy than Argentina. Once again the humankind has discovered a new novel way of killing the environment, profit over planet. + +So whilst I think the technology of blockchain will play a part of the future, the brand of Bitcoin is a flash in the pan and ripe for another bust. + +After all, ‘When the shoeshine boy......’ +All people learning, studying, or just interested in economics surely heard about economists like Keynes or Friedman and their arguably groundbreaking influence on economic theory. But I wonder about significant changes in economic theory in this century. Are there any and if so, which? + +Sorry if this isn't too specific. It just crossed my mind and I am not sure if there is better place to ask such a question. +Everyone says to learn a trade. Except most tradesmen, not all, will tell you to stay in school. Why does reddit have a fetish with the skilled trades? +**EDIT:** Love you apes. Sorry again for the crass language and the tone. It was part frustration, part trying an alternate strategy to reach people. I will try and fix my typos and errors as I find them but this took me like three hours to write and I really need to get some work done. + +**EDIT 2**: I updated the percentages on the numbers chart, as people correctly pointed out the implied increase negated the need for the 100% base. Thank you so much for everyone taking the time to understand. I do want to mention that I'm not saying the MOASS is on a date. I just wanted to get attention drawn to a point of data that, to me at least, seems urgent and critical for apes to see, especially while the price dips. I always reserve the right to be wrong. Thank you all so much for your comments, I appreciate them all and read them as I can. + +**PREFACE** + +I am screaming from the rooftops about this to any apes who will listen. The bells are tolling for hedgies and no one is noticing or caring. I've made two other posts trying to draw attention to this and both got downvoted into obscurity or spammed with cries of "Shill!" + +I try to make every post respectful, concise, and as clear as possible but that isn't working and this needs to be heard, so I'm going to go crass. Prepare for a meandering, poorly edited, train of though addled wall of text! I'm going to worry less about citing and more about getting this out there. I'll edit in citations later if anyone fucking pays attention and this doesn't get downvoted to hell. + +I love all you apes, but the hedgies are bleeding out right in front of us and you dense mother fuckers are busy upvoting cat videos and low effort memes to the front page instead of useful discussion. You aren't all diamond hands, you're diamond skull too. If I need to make a puppet show I will, you're going to understand how important today is. + +**TOPIC** + +Today is the settlement date for the short interest reports due to FINRA twice a month. These dates are as important as FTD cycle dates but no one ever fucking pays any attention to them. Every single time these dates come around the price will bump UP by 25% to 35%. What did we see this cycle? A DROP OF 40%! + +This is the first time in a year that the price fell for a SI report cycle. It has always risen by as much as 500% during the Jan squeeze or as little as 22% in April while the stock was running flat but it ALWAYS GOES UP! + +**Pay the fuck attention here**. The price goes up when these dates come around, not down. There is a very simple reason why, if you give two shits about it you can read my first DD: + +[https://www.reddit.com/r/Superstonk/comments/nztx4l/finra\_short\_interest\_reporting\_the\_current\_price/](https://www.reddit.com/r/Superstonk/comments/nztx4l/finra_short_interest_reporting_the_current_price/) + +**GRADE SCHOOL LEVEL EXPLANATION** + +I'm going to use an analogy and then a real world example with numbers to try and hold as many people's hands here and explain what's happening. + +Let's say you get a small cut and it bleeds a little bit. You're not going to die. You get cut again and again and again and you're still not going to die but every cut makes the bleeding come faster and faster. Eventually so many cuts will accumulate that the bleeding will kill you. + +Now imagine you're getting these cuts but don't want anyone to know you're bleeding, so you cover the cuts up with bandages. You're still fucking bleeding, you're still going to die, but at least nobody knows it. People can see you're a little cut, but no one can clearly tell you're fucking hamburger and being held together by duct tape and stubbornness. + +Now what happens when you run out of bandages and you get a new cut. That cut is going to show, people are going to see it. Worst, your old bandages need to be changed from time to time. You're now not just fucked, but everyone is going to start realizing you're fucked and they're going to go after your weak ass. + +That's the hedge funds right now, they're out of bandages. + +These pieces of shit have been creating synthetic shares of GME for months now, since before the Jan squeeze. In Jan they were over 100% short, so what happens when someone buys a share of a stock that has no shares to sell? The price goes up. It goes WAY the fuck up. To counter, the hedge funds have been creating synthetic shares. + +There are piles and piles of DD on this topic, please use the DD search button and read some of them if you're lost. + +So, let's say it's April 16th. You have synthetically created MILLIONS of shares of GME and apes keep buying. You create more shares every time they want to buy more so that the price doesn't climb. But every time you create shares you have to balance your books. Luckily, the SEC is shit at their jobs and you can fudge 10% or so of the shares you create out of thin air, but there is still just way too many shares getting created day after day. + +Then, here comes a settlement date on April 30th. In that time you've synthetically created 20 million shares and fucked the stock price in the process, only letting sell pressure materialize. You even got super sneaky and only marked half the shares you created out of thin air as short. You're still holding your dick and 10 million fucking shares that have to be balanced before your system creates an automated report and sends it to FINRA. Fuck. OK, so you start buying up deep in the money calls and shoving hundreds of thousands of shares into them, but there's only so many of those in a day. Here you are three days before the report is due and you've still got 7 million shares to fucking deal with. No option, you're going to cover 6 million of them, let the stock price concentrate a few percent, and then short the fuck out of it in a couple days. The report you send in, which is completely fucked and not even close to accurate, only shows you have 20% of the stock shorted, because you managed to lie about half of them, shove a quarter of them into options, juggled the rest into the share price for a couple days. April 30th hits and the report fires, you now can start the stupid fucking cycle all over again! + +**MIDDLE SCHOOL LEVEL** + +If you're with me so far, then I'm proud of you and you get a star. + +The hedgies are trapped in this cycle, it is married to the FTD cycle that everyone focuses on, but both of these cycles feed each other and compound on each other. + +Every time a report is due they have to cover whatever amount of shares they can't hide into options. If you want to know more about how hedge funds hide their shit in options, please use the DD button, there are a lot of VERY deep dives into that topic. + +Every time there is a settlement date looming, the shorts cover any open excessive shares they haven't yet hidden. Every time. Without exception. + +Now, half you retards skimming here read this as 'the shorts have covered'. THE SHORTS HAVE NOT COVERED! They are not closing the hundreds of millions of short positions they have open every settlement cycle, what they are closing is a fraction of the shares they created. Their strategy is to balance their bullshit between "accounting errors" and not marking synthetic shares as being short, shoving shares into options, and covering the remained. They cannot over do any one of the three. If they pump too many shares into options, the next FTD cycle will hit too hard. If they fuck up their report too much, it will cross the line from a fine and end up with jail time. If they cover too much it will send the share price too high. They use ALL THREE! + +**WHAT HAPPENED** + +I hope you're still with me, we're almost there.... + +&#x200B; + +[Pretty pictures](https://preview.redd.it/g49n3z9peh571.png?width=1866&format=png&auto=webp&s=45312c14e7656455d6791d0e765be717c4eed00e) + +[Scary numbers!](https://preview.redd.it/zlu198bxvh571.png?width=308&format=png&auto=webp&s=b1b91ba7bd00b5f164716d4d5390fd666b18dd7b) + +Here is a chart of settlement dates, the high that resulted from the date, and the low a day or two previous to the high. The highs are always (except for in 2 exceptions) the day BEFORE settlement. For the two exceptions, the high was two days before settlement. The lows occur before the high within a day or two. Lastly is the percent increase. + +You can ignore everything the Jan and Feb squeezes, their behavior is not typical for reasons I really shouldn't have to explain. You can see that before settlement the price always goes up. Always. + +**This settlement cycle, for the first time ever the price went down, it went down 40 god damn percent.** + +That's not a weird fluke, that's a fucking alarm bell ringing and everyone is ignoring it to watch anchors on CNBC yell at each other. + +**EXPLANATIONS** + +There are three possible solutions to why the price went down but only one of them makes any logical sense. Now, deep breath, you have to apply deductive reasoning. I will now attempt to make my case for the three arguments and why only one of them can be true. Hold onto your butts. + +**ARGUMENT 1**: *SHF managed to hide their short positions using their usual tactics, and sell pressure was so high they never needed to cover the shares they typically have to.* + +I want to point your attention to everyone's favorite datapoint, OBV: + +&#x200B; + +https://preview.redd.it/evzz891m7h571.png?width=1298&format=png&auto=webp&s=e1385a64ef72920fb447d91a2019252dd8244008 + +OBV is not the answer to all questions, but it can show us with a good enough clarity that no one is selling. After April 12 the OBV has only increased. This flat out tells you people are buying and not selling. Notice at the end there, the last few days, that dip is fucking pathetic. Even the paper hand bitches that joined in the last two weeks haven't sold. + +So the sell pressure didn't deflate shit, what about options, maybe they just shoved so many god damned shares into options this week... + +[https://www.optionsonar.com/unusual-option-activity/GME/latest-trades](https://www.optionsonar.com/unusual-option-activity/GME/latest-trades) + +Well, nope, according the optionsonar this week isn't exceptional. No more deep ITM buys then we'd expect to see. So they didn't hide the shares and they didn't cover the shares. This argument is fucked. + +**ARGUMENT 2**: *Hedge funds lie, they're just going to lie on this report.* + +This argument is slightly more plausible but still doesn't cover it. I want to emphasis, these dates are married to the FTD cycle. The FTD cycle is the noose around the hedgies necks. The cycle is strangling their stupid asses out. If they could just cheat away their short positions, they'd have been doing that YEARS ago. + +What's that I hear you saying over you bowl of cheerios with no milk? "Oh, but they're desperate now and trying desperate measures" They've been desperate since Feb when the dick parked behind them started inching into their asses. They've been doing everything they possibly can since at least Feb with no way out. If it was as simple as lying don't you think they would have tried that by now? + +I don't want to tell you jack shit about me, who I am or what I do in the real world, but I do have personal experience on this front, I do know what I'm talking about. The SEC may have their thumbs up their asses but if you fuck the dog too much, they will have no choice but to prosecute you. You can stick a finger or two in, but when you go balls deep there will be consequences. + +[https://www.ussc.gov/sites/default/files/pdf/research-and-publications/quick-facts/Securities\_Fraud\_FY19.pdf](https://www.ussc.gov/sites/default/files/pdf/research-and-publications/quick-facts/Securities_Fraud_FY19.pdf) + +Fraud, actual fucking fraud, not the stupid ass bullshit people on here like to call fraud, but REAL fucking fraud gets the government wet. USDAs will jump on them, it's a slam dunk easy case, the government gets to collect a bunch of sweet cash from their restitution payments, probation offices get to toss them onto the low risk caseload and check in with them a couple times a year. Everyone on the federal side wins. Again, I don't want to say too much but I know what I'm talking about on this topic, these assholes get prosecuted, they get years of probation and sometimes small stints in prison. Worst of all, you lose your ability to EVER practice finance again. Scarlett letter, they're fucked. + +So, they might push the envelope, they might fudge the numbers egregiously, but they wont erase 100 million shares and expect it not to get found. + +Reports like those sent the FINRA are created with automated workflows. In order for them to fraudulently mark all of their synthetic shares as long a worker at the bottom of the barrel would have to have gone in and done it. Some programmer, trader, or middle manger would have knowingly put his career, his freedom, his family's security on the line. For what? So his job lasts a couple weeks longer? So his boss will give him a thumbs up? Fucking no, no one is that stupid. No one is going to gamble away their entire life for a couple more weeks at a paycheck or a good performance review. + +If it were that simple, if cheating at that level were an option, they would already be doing it. + +I'm running in circles here but this is the first time the price dropped from a settlement, not just didn't go up, fucking dropped by 40%. It was shorted to shit. This isn't Ken going in with some whiteout and a pen, there are dozens of people involved with this action and they aren't all going to sacrifice themselves for no god damned reason, especially when they could get a sweet whistleblower reward for reporting it. + +**ARGUMENT 3:** They aren't going to cover. + +When you rule out all the other possibilities, what you're left with is the only logical argument. These assholes are unable to or unwilling to cover the shares they need to. + +Maybe the number of them is so egregious there is no point. + +Maybe the move to the Russell 1000 on the 25th will make the entire exercise pointless. + +Maybe there's too much scrutiny on them with the SEC finally investigating. + +Who the fuck knows, all I know is, they didn't cover. + +&#x200B; + +They didn't hide them all, they didn't sell them all, they aren't going to willingly go to jail, **THEY'RE SURRENDERING** whether intentional or not. + +When the report gets published on the 25th, it will show all the shares they couldn't fudge or hide. It will show tens of thousands of shares. Not just 20%, it'll be 60% minimum, and it'll be just the tip of the iceberg. That number will only represent a couple weeks of shorting. + +Blood in the water, the sharks will circle. This is massive. + +Apes need to fucking see this. Everyone is crying over a little price dip while the god damned final blows are being struck. + +You may downvote this again, spam accusations of Shill, but I'm not going to stop trying to get this topic to people's attention. + +I'm done for now and will go back to a polite demeanor. + +To all the apes who took the time to read, thank you! +I used to own VZ but got out of it because I was a new investor and the volatility was too stressful for me at the time. Now that I know a little more, I've been thinking about jumping back in. And let's face it, we are approaching a 52 week low. But why is this dropping like this? It seems like with all of the activity going on within the company (5g, the Tracfone deal, partnerships with Disney & Apple, etc) that the stock would be going in the other direction. What am I missing here? +My 15-year-old son is obsessed with money and thinks it's a kind of power that produces a kind of freedom and all my conversations with him are about ways to make money and ways to build wealth and I find it's worrisome and excessive, especially for someone his age + +so I want to ask you Is this normal or not? +I can’t help to notice how many popular stocks recently have been following a pattern of manipulation, particularly $GEO and $WISH. Their pattern is distinctly different from the manic buying that happened early on with $GME. + +With $GME the behavior was that traders bought shares over a period of many days. This can be seen in the rise and fall of the stock over a period of well over a week (Jan 21 - Feb 4 2021). This makes a lot of sense as retail investors generally are not constantly making trades and don’t even possess software to issue fast trades (most brokers have a delay in order execution). This is what I’d expect if a stock is being manipulated by a group of people, coordinating actions takes time and no everyone is a professional trader. + +With $WISH and $GEO, we see a different pattern (although both were pumped on Reddit). Here, there is a fast rise and a fast fall over the course of 1 day. Interestingly enough both rallies end at market close when they started. The next day the rallies mysteriously die and both stocks return to normal. If both were being pumped by a group of independent individuals, I just don’t see how such a pattern would emerge, especially if the individuals were not already seasoned traders (which the general public is not). + +Why is this highly suspicious? +First both rallies end at day end. This is setting a perfect trap for individual investors who are not constantly checking the market. With such a strong rally the general public is bound to believe that the rally will continue on the next day. Also, they’re likely to check the news at the end of the day. + +How could an attacker profit? +By planning the date in advance, one or many attackers can simply buy low priced options for the given date at the expected strike price. By coordinating a mass buying (GEO and WISH have relatively low volume and market cap), the attacker can raise the price (especially due to mark to market). His options would substantially rise in price, which he could unload at a hefty profit. By selling the stock to the general public the day after the rally, the price would go back down (again, most of the general public is unlikely to quickly sell, hence the price would go back to what it was). The attacker makes a hefty profit on the options, and likely no loss (maybe even a profit) on the stock. I estimate that 200M would be able to easily make such moves for both GEO and WISH. 200M is not an insane amount for a fund. + +Both rallies look extremely suspicious to me, what do folks think? +In short, I started out with just the 6% pre-tax employer match on day one to a traditional 401k and gradually increased my contributions to the Roth 401k after-tax option. Last Friday at close my balance was at $399k and some change, and have been waiting for this moment. +If US has the privilege of printing their own money to pay off previous debts and buy goods from around the world, why can't they just print it endlessly and pay it off altogether ( especially foreign debts ? ) Would that immediate flow of Dollars out to the world destroy the economic fabric of the world? +Of course, no one person is a hero. And certainly NOT me. I’ve got a lot of studying to do to figure out if I can be helpful. But I think I can. Whether it’s now or a month or six months. But I like what you are doing. And I will try to help however I can. Let me know how you think I could help. Maybe it’s one day taking a position in GME or maybe it’s just exposing the greed and corrupt of some people (you know who!). I will also help however I can with the BCG stuff. I never thought my comment on BCG would lead to meeting this community. But I’m glad it did. Thanks again for having me 👊 +My father makes around $40,000 annually. I have been raised in an apartment complex, and my family is incredibly dysfunctional. + +I plan to start at community college in part bc it feels like the most financially “safe” decision, especially since both years of community in my city are free. I admittedly don’t have an idea of what I want to major in. + +However, what I do know is that in spite of my issues w depression and anxiety, I am really hoping to move out of my income bracket. I don’t know how to pay taxes. I know nothing about potentially buying a home and about how to save my money. I am miserable over the fact that I have grown up poor in such bad circumstances. + +How can I be smart about my financial planning over the next few years? +No stamp duty. + +Flexibility to move around to pursue better job opportunities. + +The chance to experience multiple different lifestyles, suburbs, restaurants, parks, other local highlights. + +Move overseas for a while. See a bit of the world. + +Invest in shares, pump up your super, take advantage of compounding. + +Live in multiple parts of Australia; go on road trips to highlights in each state. + +Equity Builder for leverage if you desire. + +Dealing with landlords? Yeah, but no dealing with tenants. + +No maintenance costs. + +Live in a nicer place than a mortgage would cost. + +More friends, in more places. + +Invest in businesses, not unproductive assets; be a more useful member of society. + +End up in a place with screaming neighbours? No worries, move in 6 months at no real cost. + +You are not a "failure" as a renter. The narrative needs to change for us to progress as a country. + +Edit: it seems some people are taking this the wrong way. **This is not saying "renting is BETTER than buying"**. It is for the people who are down on themselves/depressed that they can't scrape together a deposit - or choose not to - and have people looking down on them for it for no real reason when there are actually *multiple* positive aspects to renting. +Volkswagen AG, the world's second-largest automaker, has joined Tesla's lobbying camp in calling on the Indian government to lower import duties on electric cars to spur demand for cleaner vehicles. + +Gurpratap Boparai, managing director of Volkswagen's Skoda Auto India, said that even if import tariffs on electric cars were cut to 25 percent from the current level of up to 100 percent, it would not pose a "huge threat" to domestic companies in India, but would instead help drive investment. + +[Volkswagen Joins Tesla in Calling on India to Lower EV Import Duties](https://www.asiantechpress.com/volkswagen-joins-tesla-in-calling-on-india-to-lower-ev-import-duties.html) +There’s a lot of new people on here that don’t really understand the play going on right now on both sides and I felt like we need to clear up some misconceptions so you can make your own decisions. + +**Why no spike today?**: + +First of all, we can’t know on what day the Squeeze happens / they cover their shorts. +All we know is it has to happen sooner or later since the hedgefunds are losing millions if not billions EVERY SINGLE DAY THEY DON’T COVER.  +They use several tactics to delay it, but they can’t circumvent it. +They’re bleeding, and all the retail investors holding are slowly sucking the blood out of their fat ugly bodies. + +It might take just a few days, or weeks... +But eventually, when they cover, WE retail investors get to set the price. +That’s why you keep seeing 10k (or 69420$) is not a meme. Because it’s not. + +We also know they’re down BAD. Why? +Because they’re attacking us any way they can and wasting millions doing so. + +So let’s see what tactics they are using: + +**Short ladder attacks**: + +What is a short ladder attack? +The big hedgefunds are putting in lower and lower bid prices between themselves. There is little to no volume on those trades, and since no one can buy, it "looks" like the stock is plummeting. It’s only effective if we would sell. + +https://www.reddit.com/r/wallstreetbets/comments/l9ay2s/short_ladder_attack_explained/?utm_source=share&utm_medium=ios_app&utm_name=iossmf +https://www.reddit.com/r/wallstreetbets/comments/la6vcb/wall_street_plan_trying_to_psychologically_scare/?utm_source=share&utm_medium=ios_app&utm_name=iossmf + +Just look at the volume. People are not selling: +https://www.reddit.com/r/wallstreetbets/comments/la5upr/dont_panic_and_just_look_at_the_fucking_volume/?utm_source=share&utm_medium=ios_app&utm_name=iossmf + +**Infiltrating WSB and other social media**: + +Here are some random screenshots I took of WSB Synth. Notice the people saying to jump ship and to take GME gains and invest into FORD. Obvious shills. There’s tons of them. Always new, or old accounts that suddenly post again. All those people came in just in time when the short ladder attacks started, just to make it look like people are panic selling and convince us to sell: +https://www.reddit.com/r/wallstreetbets/comments/lahqex/notice_the_two_obvious_melvin_employees_time_to/?utm_source=share&utm_medium=ios_app&utm_name=iossmf + +**Manipulating the Media**: + +Here are some News channels caught lying / manipulating the market: (SEC if you read this...) +https://www.reddit.com/r/wallstreetbets/comments/la8n7o/fake_news/ +https://www.reddit.com/r/wallstreetbets/comments/la6e16/cnn_back_off_this_is_a_lie_literally_a_5_second/ +https://www.reddit.com/r/wallstreetbets/comments/l9runf/the_silver_squeeze_is_a_hedgefund_coordinated/?utm_source=share&utm_medium=ios_app&utm_name=iossmf +https://www.reddit.com/r/wallstreetbets/comments/la8x7g/bloomberg_now_insisting_gme_is_old_news_ha/?utm_source=share&utm_medium=ios_app&utm_name=iossmf + + +Now let’s get some clarification on **SILVER:** + +There is so much misinformation swirling around concerning Silver. People don’t seem to realize 3 things: + +1. **Silver is not a get rich quick move. Silver is a LONG TERM HOLD move.** GME is a risky short term play. So YOU decide what makes more sense to get in right now. (Personally I sold all my stocks to buy GME today. YOLO)  +2. The actual Silver sub on reddit does not advocate buying SLV, nor do most of them believe SLV is the move to make.  +3. The hedge funds would love for you to go all-in on Silver and ignore the GME opportunity. Every dollar spent on SLV instead of GME is a double win for them, since SLV is inverting GME and they own a ton of Silver and that’s why they’re pushing this narrative in the media.  + +SLV inverting GME: +https://www.reddit.com/r/wallstreetbets/comments/la4mog/stop_buying_slv_you_smooth_brained_retards_its/?utm_source=share&utm_medium=ios_app&utm_name=iossmf + +The amount of paper contracts or IShares SLV available is basically infinite. Physical silver is a rare physical commodity with a finite supply, and a very low supply of retail sized bars/rounds/coins. + +**IF** you want to go into silver for whatever reason, buy physical. But that’s just my retard opinion. + +**SILVER ISN’T “REDDITS NEXT BIG PLAY“.** You guys need to realize the GME situation is very unique and WSB is not, and never was about starting crazy short squeezes. GME is a rare opportunity where the big guys actually fucked up BIG TIME. + +Silver squeeze not happening links: +https://www.reddit.com/r/wallstreetbets/comments/la1o04/there_is_no_silver_short_squeeze_happening_none/?utm_source=share&utm_medium=ios_app&utm_name=iossmf +https://www.reddit.com/r/wallstreetbets/comments/la1xhf/guess_who_owns_tonnes_of_slv_options_fuck_citadel/?utm_source=share&utm_medium=ios_app&utm_name=iossmf +https://www.reddit.com/r/wallstreetbets/comments/l9runf/the_silver_squeeze_is_a_hedgefund_coordinated/?utm_source=share&utm_medium=ios_app&utm_name=iossmf + +Well. Let’s see to what extend they fucked up exactly:  + +**Short Version:** +The short version is that a review of the **'strategic fails–to–deliver'** data indicates that institutional insiders may have counterfeited a massive number of Gamestop shares which is why they tried to stop retail investors from buying more shares on Thursday. + +There are are **71 million shares** of GME that have ever been issued by the company. Institutions have reported to the SEC via 13F filings that they own more than **102,000,000** shares (including the 13% of GME stock is owned by Ryan Cohen). That is already 30,000,000 shares more than even exist. + +On top of the shares reportedly owned by institutions, retail investors may currently hold 50+ million shares (counting both long holdings and call options – both ITM and OTM). + +Once you include call options, **retail investors may already hold more than 100% of GME (not just 100% of the float, more than 100% of the actual company)**. This would be definitive proof of illegal activity at the highest levels of the financial system. + +Long version here: https://www.reddit.com/r/wallstreetbets/comments/l9rk78/sec_doj_60_minutes_public_data_suggests_massive/?utm_source=share&utm_medium=ios_app&utm_name=iossmf + +**At these levels it’s NOT about the price, it’s about the number of shares in the hedgefunds possession. That’s why they want you to sell so bad.** + +🤚🏼💎🤚🏼💎🤚🏼💎🤚🏼💎🤚🏼💎🤚🏼💎🤚🏼💎🤚🏼💎 + +Last but not least I’m holding because this is a once in a lifetime opportunity. I’m holding because I hope to see a better future and I’m holding for all you out there. +To the Moon or zero. + +🦍🦍🦍 APES. STRONG. TOGETHER. 🦍🦍🦍 + +Disclaimer: +This is not financial advice, I’m literally an ape. I just like the stock. Do your own DD and avoid the fake new and/or resurrected accounts here and the manipulative Media. + +Edit: wanted to post a few new posts but it seems like I’m shadow banned. No one can see my posts. +I don’t know if I got caught in some kind of spam filter. +u/only1parkjisung can a mod confirm this? +I have a lot of free time, basically i stay home almost all the time. My goal is to get rich, how would you recommend me to spend my free time? Read specific book? Look something on websites? Thank you +So in our current generation you cannot afford a house with average wage. True for AUS and USA + +Was this inevitable? I have been thinking about it and I conclude that it is inevitable, but I wanted to check my thoughts on here to get a better perspective from people more knowledgeable than me. **Disclaimer, my economic education is just 1 Microeconomics class in 1st year College** + +If you think about it, unless a major scientific breakthrough happens land is limited. You can make artificial islands but good luck getting the permit to do that in a western country that cares about the environment. + +Therefore, the amount of supply is going to get butchered as population grows, and over time more established families absorb more and more land to grow their wealth. + +So the land that is actually going to be left for people who don't have any is going to be very little. + +Unlike most things, you can't realistically just create more land. Yes, jobs become more productive as people get more educated over time, and as technology improves over time. But we are not at the point where we can just create more land. Therefore it is obvious that home prices will outpace wages. + +Wages outpacing the price of a thing should only happen if said thing becomes easier and less resource intensive to manufacture to the point where competition between citizens doesn't matter. + +In the middle ages books were expensive, because printing didn't exist. + +As technology improved and books became easier to mass produce, books became cheaper. To the point where books will remain affordable even if everybody in the world wants to own the same book. + +Even if everybody in the USA wanted a Holy Bible, the holy bible can be printed affordably to everybody with average wage due to the efficient printing technology we have. For a long time until the trees die out you can fulfill the need of everyone to have a bible. + +This doesn't apply to land. There is only ever going to be small and diminishing amount of land left unless scientific breakthroughs happen. + +(HYPOTHETICAL) + +If there is enough land for 10 million people, and there are 30 million people who don't have land. Due to the law of supply and demand, coupled with the fact that the demand for land is nearly infinitely inelastic, (and by nearly infinitely inelastic I mean the demand curve is almost a straight vertical line because EVERYBODY wants a home) it doesn't matter how high the average wage is, house price growth will ALWAYS trump average wage growth. + +Inelastic demand of homes due to everybody wanting a home is impossible to beat, and should be impossible to beat for any policy and government. + +If the average wage out of those 30 million Americans is 50k, the house price is going to be so high that only 10 million of those 30 million can afford it, meaning 20 million are going to be unable to afford, this is the law of Supply and Demand, the consequence of markets in general shifting towards the point of equilibrium... The point where the price is as high as possible, but low enough that the amount of people willing to buy the thing is exactly the same amount as how much of that thing actually exists. + +If the average wage of the 30 million Americans is 100k , the house price will inflate so that only 10 million of those richer Americans can afford it. + +If the average wage of the 30 million Americans is 1 million, the house price will inflate again. + +If the average wage is 10 million, it will still inflate. + +And it is even worse than this, because there are like 200 million other Americans who already have a home, but want more homes so the competition is going to inflate the prices even higher. + +&#x200B; + +So I am asking people on this subreddit, is there a long term solution (LONG TERM, PERMANENT) to rising home prices? Specifically home prices outpacing wage growth? Because from Basic Microeconomics, as long as the demand for homes is inelastic as it is today (Because culturally everybody wants a home, and everybody expects themselves to have a home, and everybody expects their friends to have homes, and you kind of have higher social status if you own a house and don't pay rent) , it is economically impossible for wage growth to even equal home price growth. +I'm going to create an updated list of new crypto projects that the community thinks is worth investing in this month. We've done this before but often the threads just become cluttered, so I'm going to try to keep this one more organized. + +[Upfiring](https://upfiring.com): ICO going on now. Really unique project that has the potential to be a gold mine. It's P2P file-sharing but seeders get compensated with UFR tokens. This could completely take uTorrent/BitTorrents market cap as people will definitely want to seed files on this app and get tokens for it. I myself would use this app if successfully made, and with that low of a market cap the potential is huge here. + +[RedPulse](https://coin.red-pulse.com/): ICO starts today, Whitelist is already closed (I think?). "China’s economy is already the 2nd largest in the world in terms of nominal GDP, and 1st in terms of purchasing power parity (PPP). However, as a market for investment and industry participation, it remains incredibly difficult to understand. This disconnect presents a huge opportunity to platforms and services that can bridge this informational gap. The problem is made all the more challenging to solve by several critical circumstances." + +[EnjinCoin](https://EnjinCoin.io): ICO is going on now. Really big market for this type of thing, the e-Sports market and crypto will be a realistic use case in the future. I love this project and think people will actually use it, as opposed to 99% of the other projects which sound great but have no real uses. + +[Airswap](https://www.airswap.io): Decentralized exchange like 0x. Really cool project, will be watching this one. + +Grid+: ICO starts October 30. "Grid+ leverages the Ethereum blockchain to give consumers direct access to wholesale energy markets. This decreases costs, shifts production closer to demand, and moves us all toward a cleaner energy future." (Backed by Consensys) + +Salt - Blockchain-based loans. + +DNT - We've already seen it at 4x this price, so it could happen again. The project itself is alright. + +I will actively add projects as they are suggested here. + +I am 16 y/o girl and have five younger siblings. I don’t have a job because school takes all of my free time, but I’m planning on getting a job over the summer. + +My family is pretty lower class and we need food stamps to get by and are in crazy debt. We are currently filing for bankruptcy. + +As you can see, the situation is pretty terrible, but it only gets worse. Since my parents don’t have healthcare, my dad has not stepped in a doctors office in years. He is very obese and lives a very sedentary lifestyle, as he has a job where he drives around all day long sitting, then comes home and sleeps. I’m afraid this won’t last him long. It’s very hard for my mom to get a job that fits around all of her children’s schedules and her medical issues. + +It can get stressful, as a lot of pressure is put on me as the “one who will save us” and “the smart doctor who will pay off all our debts”, yet having pretty bad unmedicated ADHD that makes it unbelievably hard to pay attention in class. The fear of failure is quadrupled the normal amount teenagers have as a lot is riding on me succeeding, especially the future of my younger siblings. + +I don’t know what to do. If he gets sick, he won’t be able to work, leaving us with only medical bills and no source of income. The best case scenario would be for me to somehow get a stable job before something happens, and by then my sister can drive everyone around so my mom can get a job. However, I don’t see that happening anytime soon. My life calling is to join the medical field, which would leave me also in debt, broke, and with a minimum wage job until I graduate for a very long time. + +I live in Texas, USA if that helps. + +What can we do to prepare? + +Edit: This is unbelievable. I thought only a single person would answer a single sentence about just getting a job. Now I can’t even reply to all of y’all, there’s so many of you! So this is your reply for all the people I didn’t get to. I appreciate you all so so much, and will look into everything you guys told me. I appreciate the time you took out of your day just to help a stranger. I know I would like I broken record, but I really do appreciate all of y’all so much. I haven’t prayed in a long time, but I’m getting down on my knees and praying for everyone else who has helped me today. Bless you all so much💛💛 +### The Royal Swedish Academy of Sciences has decided to award the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2020 to Paul R. Milgrom and Robert B. Wilson “for improvements to auction theory and inventions of new auction formats”. + +#### Nobel Prize Committee + +* [Video announcement](https://www.youtube.com/watch?v=XIl-OBg1jmg) +* [Summary](https://www.nobelprize.org/prizes/economic-sciences/2020/summary/) +* [Press release](https://www.nobelprize.org/prizes/economic-sciences/2020/press-release/) +* [Popular science background: The quest for the perfect auction](https://www.nobelprize.org/uploads/2020/09/popular-economicsciencesprize2020.pdf) +* [Scientific Background: Improvements to auction theory and inventions of new auction formats](https://www.nobelprize.org/uploads/2020/09/advanced-economicsciencesprize2020.pdf) + +#### News Coverage + +* [CNN: Nobel Prize in economics awarded to Paul Milgrom and Robert Wilson +](https://edition.cnn.com/2020/10/12/business/nobel-prize-economics/index.html) +* [CNBC: Nobel Economics Prize awarded to Paul Milgrom and Robert Wilson for work on commercial auctions](https://www.cnbc.com/2020/10/12/nobel-economics-prize-awarded-to-paul-milgrom-and-robert-wilson.html) +* [Washington Post: Nobel Prize in economics awarded to Paul Milgrom and Robert B. Wilson for their work improving auction theory](https://www.washingtonpost.com/business/2020/10/12/nobel-prize-economics-awarded-paul-milgrom-robert-b-wilson-their-work-improving-auction-theory/) + +This page will be expanded with additional news coverage and commentary as the day progresses. Please direct all Nobel discussion here. +I see this expression all the time, but I don’t really see how it plays out in reality. + +Isn’t almost all the money owned by the rich being continually invested? +I am a consistently profitable Day Trader. I say this because you should not take advice from someone that isn’t successful enough to make a living at it. Of course anyone could say this, so judge the quality of the advice for yourself. + +I’ll also note that I’m an asshole. Not to everyone though. If you really need help and you’re clearly putting in the effort, I’ll give you my time and energy to help improve your trading. But if your lazy and just want to make quick $$, I’m going to call you out. + +As I’ve said before in other posts - Day Trading is NOT easy. Anyone that tells you otherwise is either an idiot or trying to sell you something (or both). + +I’ve also said that even though it is difficult, it is very doable. If you put in the time and effort there is no reason you can’t be a profitable Day Trader. + +Around six months ago I wrote out some tips on here, these can be added to those, although some are repeated given how important they are. + +So, in no particular order: + +1 - Do not restrict yourself to just “Day Trading”. Every great Day Trader is also a great Swing Trader. Anyone who tells you that Day Traders never hold positions overnight immediately disqualifies themselves from saying anything else, as they are a moron. In fact, I typically won’t Day Trade a stock unless I like the Daily chart. Why? Because let’s say I buy a stock and the market reversed. Now if I picked the right stock (more on that in a bit), it won’t drop as much as the market does, but I’m still down on it. For this example I buy 2,000 shares of stock XYZ at 50 and SPY goes from 390 to 388.20. The stock might drop to 49.60. I know the stock is strong, the technicals are all in line, and it’s well above its Daily support indicators. I also know SPY hasn’t had a technical breakdown. Rather than take the $800 loss, I can hold XYZ confident that on the next bounce for the market that it will go above $50. + +The point is - be flexible. + +2 - Speaking of being flexible, have many different tools in your trading repertoire. You don’t have to just go Long or Short. Sometimes a better play might be a Call Debit Spread for instance. Many mornings I’ll see a volatile stock up a lot (Boeing for example). So instead of buying the stock, I’ll do a CDS instead. On BA I did a 255/260 CDS for a $1.20 debit, and sold it later for a $3.60 credit - a 200% return (gave $120 per contract, got $360 per contract, for a net gain of $240 per contract). I might have made more just buying the stock, but instead I took a conservative approach just in case the market reversed. + +3 - Do not hold a position, either in stock or options, through earnings. The result is too unpredictable with the stock, and the options will lose tremendous value through IV reduction. It’s a pure gamble. + +4 - Get off that one stock. Maybe you got your ass kicked by a stock early in the day. So you keep going back to it so you can get “even”. At the end of the day your account doesn’t care if you lost $1,000 in one stock and made $1,000 in another. Choose the stocks based on the market and the technicals, not because it “beat” you earlier in the day. + +5 - Stop chasing losses and/or prematurely taking profits. Traders tend to stay in losing trades longer than they should, and exit profitable ones too early to lock in their gain out of fear. This also goes for averaging down - don’t do it. Averaging up works a lot better. + +6 - Understand your trade before you enter it. If you buy a Stock at $50, do you know what your stop will be? Do you have the right entry? And with options, what is your exit strategy if it goes against you? Know where is support/resistance, VWAP, etc. And most important - what is the market doing? Note - I rarely use stops, almost all of my stops are mental, but this is an individual traders choice. I’ll just note that you should not be using stops on stocks that have huge swings. You’ll get knocked out of a trade before you ever had a chance. + +7 - If you don’t fully understand something, don’t do it. For example, don’t enter into an option spread unless you completely get how it works, how to leg out if it goes against you, and when to take profits. Take the time to learn it before you do it. + +8 - Very Important, perhaps most important (I did say these would be in no particular order) - when Day Trading you want to be going long on stocks that have Relative Strength against SPY and short on those that have Relative Weakness. I am NOT talking about RSI (a crap indicator btw). I’m talking about when SPY drops during the day, notice which stocks held up. Those are the ones you want to buy when SPY rebounds. I can not stress enough how important and central this is to your success. A vast majority of stocks will follow the market. If on the 5 min chart SPY is down down down and stock XYZ is up up up, or even flat, you know that stock is strong. That’s the one you want to have when SPY rebounds. + +9 - Many Day Traders trade on their own. However I have found that trading in a solid community of traders, with a great chat room only increases your success. Especially for beginners. + +10 - However, if you’re in that chat room, don’t chase someone else’s day trade unless you analyzed it yourself. You may miss some opportunities doing this, but you’ll also prevent yourself from being trapped in a trade you didn’t understand. + +11 - The idea you “missed the big move” has no basis in reality. If stock XYZ is up $20 you might figure you already missed the action and move on - this is a mistake. Look at the technicals. Chances are this is still a good opportunity, especially if there is relative strength against SPY. + +12 - You’re not smarter than the market. You haven’t thought of something that others haven’t already considered. This type of thinking leads you to make decisions before you have technical confirmation that you’re correct. Institutional buyers have more resources and information than you, and whatever you’re thinking, they’ve considered. You can see the actions they took by looking at the charts. Your decisions should be based on the charts, not because you think NFLX will go down since the pandemic is ending. That’s not “brilliant insight”, it’s just a way to go broke. + +13 - Day Traders trade what is in front of them - price action, technicals on the Daily and 5/1 minute (mainly), market conditions of that day, volume, etc. A great trade at 10am could be a terrible idea an hour later. You need to be nimble, to move quickly and to trade what you see at that moment. + +14 - If you’re too anxious about any one trade your position size is too big. + +15 - Don’t overtrade. Sometimes Day Trading is boring. Don’t force a trade just because you haven’t traded in awhile. Wait for the right opportunity, it will come. Last Thursday, I hadn’t traded for two hours, and then SPY started dropping. I notice BHC was still going up. I bought 5,000 shares at 33.25 and exited at 33.75. 50 cent gain for $2,500. Small example, but the point is, I waited for my moment. + +There are many more tips but hopefully this list is helpful. + +Also, reading through this forum I see a constant stream of bad advice. I also see a never-ending army of trolls that disrupt any worthwhile post. I know many successful Day Traders that won’t post on this forum specifically because of the trolls. Personally, I don’t care...I’m sure they’ll pop up here once again, as always. Just know that they will get ignored unless they ask a legitimate question. + +Good luck! + +EDIT: I’ve gotten so many chat requests that Reddit won’t let me respond to them all. So if I haven’t responded to you, either send me a direct message or wait a bit and I’ll hit you back when they open it up again. +I see posts like “bought BB at $23, I think it’s a great company, I’m in it for the long haul” and I find it interesting because over the course of the past several months nothing has changed fundamentally within the company, yet the stock was trading at a mere $7 30 days ago. My question is, why did you guys not pick it up then? Was it not a great company 30 days ago when the share price was $7? What made it a better company when the share price reached $23? + +I’m curious. Did you guys really recently buy BB because it’s a great company and you did your own DD? +Interested to hear from people earning normal salaries in comparison to the rich lawyers, bankers, trust fund babies on here. I always thought how could someone earning 24k live in a place like London but it must happen as not everyone is on a 50k salary. +(31M) I have been building my tech company past 8 years and have the opportunity to sell the business and stay on to continue to run it. My take home would be $10M pre tax, $300k base salary plus bonus, and $5M earnout to stay 3 more years. The acquirer is a public strategic and has good reputation for making good on the earnout. I definitely want to start another business but don’t want to regret selling if I’m 3 years out from potentially 3x my current exit situation. Anyone regret selling too early or happy they did and successfully launched a 2nd company? +Now is the time to buy. It could be rough for 1 year, 3 years, 5 years etc. but show me a time where after 10 years the market did not rebound and it’s a very small percentage. + +You think the upper class invests only when the market is hot? No. They invest when the market is shit. They invest in real estate when it is shit. They invest in crypto when it is shit. They invest when proven assets are shit and real the reward when they are hot. + +Don’t fret. Ride the wave and keep buying SCHD, VOO, VTI, DGRO, and VYM if able. Also, if the stock market tanks for 10 straight years we have much bigger issues on our hands and you won’t give two shits about your portfolio +&#x200B; + +https://preview.redd.it/yyqfv0thufq71.jpg?width=1568&format=pjpg&auto=webp&s=5bdf185ad893ded06ed7f32f2cdb64f25560c3d8 + +(Edit) Note: US IPs are experiencing this across the board, while Euro IPs are reporting they are not. + +TLDR; For the last several days Go0gle has stopped associating (auto filling) the word perjury with Ken Griff1n when searching (try it yourself). Virtually every other name you search (including 'random name' and 'mickey mouse' will complete the word perjury when you start to type it. DRS is the way. + +======= + +A couple days ago [I posted about this](https://www.reddit.com/r/Superstonk/comments/pwm32v/the_social_dilemma_a_case_study_into_evidence/?utm_source=share&utm_medium=web2x&context=3), and it was lost in the noise. Since this is still actively happening, I felt it was worth bringing it to light again so more people can see the lengths K3n will go to to protect himself. You think when you search Go0gle (or any other search engine), you're receiving an unbiased view of the internet, free from manipulation, and that hasn't been massaged based on monetary incentives. You think you live in a world of free information flow on the internet. + +Guess who else is being protected... + +https://preview.redd.it/mgwojerqxfq71.jpg?width=1585&format=pjpg&auto=webp&s=6570c54f9038fa667d365b0c04e3abb999e56e1d + +Recommend watching the following documentaries on this topic to learn more about what's going on with your internet searching: + +The Creepy Line (Amaz0n Prime) + +The Social Dilemma (N3tflix) + +&#x200B; + +Please let me know what other names associated with this mess are hiding from the public through this subtle yet blatant search manipulation. + +&#x200B; + +# DRS is the way. + +&#x200B; + +Edit: It brings a smile to my face to imagine a Google analyst deep in he bowels of Alphabet HQs getting a pop-up notification of a **trending search** that hits their blacklist *'Ken Griffin + perjury'* and wondering "Hm... what's this?" thinking to himself *'why did thousands of IPs from all over the globe just now search this?'*, as he took off his Google hat for a second, placing it slowly down on his desk, he clicks the disable button on the "don't show Griffin + perjury news" (camera pans to the side of this noble character... to reveal an Ape riding a rocket to the moon tattoo (one of us, can be heard chanting in the background as the scene cuts to Ken's trial)... likely there is no analyst like this, but one can dream. The movie deserves it... if I were the one writing :D + +Edit 2: Worth noting. This post is at 98% upvoted (at 7.5k votes) at 11:03am EST and I've added the phrase "DRS is the way." in two places. I'm curious to see if that upvote diminishes with this phrase being included. I will report back later. + +Edit 3: Checking back in... 30 minutes later. This post is now 94% upvoted (at 11.1k votes). I'm an engineer, so I think I can do this math, but someone please correct me if I'm wrong (I assume upvotes cancel downvotes in the total represented)... in that case a drop from 98% (at 7.5K upvotes and 150 downvotes = 7.65k total at edit 2 above) to now 94% (11.1k upvotes and 667 downvotes = 11.7k total as of this edit) means the last 4.1k voting between edit 2 and this edit required 517 (or 667-150 = 517) downvotes to bring the average to 94% on the total upvote of 11.1k as of now. + +So... + +After the words "DRS is the way" were added to this post. The percentage of downvoting increased from 2% (150 of the first 7.65k) to 12.6% (517 of the last 4.1k votes) to make the total 94% upvotes at 11.1k upvoted (as of the time of this edit). + +or... if I'm being fair in considering alternative explanations... it's possible that being at the top of the sub brings a lot more "this isn't directly about what I want to see... so I'll downvote" sentiment. That said, the post was at the top for a good 30 minutes prior to edit 2 above and was fluctuating between 98-99% since it started. So I see this as unlikely to be the main contributing factor to the uptick in downvoting here. + +Just providing the data and some thoughts of my own. I'll let others draw their own conclusions. + +Edit 4: Looks like my edit 3 section included the name of the sub triggering the automod to remove this post. I'm hoping it can be fixed. I've edited that part to read "the sub" instead of the name. + +Edit 5: It's back up. Thanks mods, appreciate you. + +Edit 6: Searching the term now brings you directly to this post. + +"Fate it seems is not without a sense of irony." + +https://preview.redd.it/sunfzznwygq71.png?width=2125&format=png&auto=webp&s=f38d9b7a482e60226b0e6a528cb0f172ced486c4 + +Edit 7 (1:45pm EST): continued analysis of the voting ratio... current upvote total is 22.1k with 91% upvoted (continuing to fall and approach the 12% rate we've seen since edit 2 above). This means there are a total of approximately 1,989 downvotes as of now. From previous points of reference we know that 150 of the first 7.65k were downvotes (2%). From Edit 3 we know that about 517 downvotes (12.6%) came with the next 3,600 upvotes (the time between edit 2 and 3). Since edit 3 another 11,000 upvotes have been registered along with approximately 1,322 downvotes (1989 - 150 - 517) which represents 12.02% downvoting since the last recording at edit 3. + +**The downvoting percentage has been holding steady at 12%** since edit #3 and after the words "DRS is the way" were added to this post. + +To summarize. This post saw the front page here about an hour after it was posted. It made it to the top post by the 90 minute mark. At the 2 hour mark I noticed the upvoting was steady between 99-98%. During edit 2 (about 30 minutes after this post was at the top spot) I added "DRS is the way" to it in two places... after sitting at the 1-2% downvote mark the first 5k votes, the post drastically changed to a consistent 12% downvote right after the mention of DRS was included. + +To me, this is proof that either approximately 1 in 8 apes dislike DRS enough to downvote posts that mention it, but not enough to comment about it under the post (I don't see many comments saying anything negative about DRS since I've added it), or the more simple conclusion might be that a network of accounts are downvoting DRS mentions. + +========== + +Edit 8: Since I was asked... here is the TLDR for the edits (downvoting analysis in real time; and how it relates to DRS mention)... + +TLDR edits; Before the mention of DRS being added to this post (second edit) the first 5k votes were 1-2% downvotes (I'd say 1.5% based on it fluctuating between the two at that time). Since I added "DRS is the way" to this post the downvoting has steadily been 12-13%. + +There is no explanation I can think of to explain this sudden change from consistent 1.5% downvote to suddenly a 12% downvote... other than to point to the obvious conclusion that: + +# a network of bot accounts are downvoting posts that mention DRS. +**Should I retire at 30 with $5M (today) or at 40 with $10M (in 10 years)?** + +Through 99% luck, 1% work, and living well below my means, I have reached $5 million USD, an amount that I never would have imagined ten years ago. + +Most of my teenage & early adult years have been focused solely on obtaining "traditional success" and money. This has been at the negative expense of fun, friendships, romantic relationships, & health. Throughout high school & college, I did not party or date. Instead, I stayed up late to spend hours studying/working in hopes of getting into that good college or landing that nice corporate job. This trend continued by working long hours to get that next promotion. + +My net worth is comprised of investing a significant % of W2 income & lucky gains in tech stocks (I will likely never replicate these gains in my lifetime) Current pay is 200k W2, working 60h per week. It would not be an exaggeration to say that I hate my job. I am burned out from the long hours and do not enjoy the office politics. I do not have any identity attachments with my role or industry. + +I believe I am in a unique position to walk away from it all. This free time would be spent on the things I've neglected most for most of my adult life (friendships, romantic relationships, health & fitness). **What would you do?** + +**Other info:** + +* Single, male, 30, based in US. +* If I retire now, I would spend 6 months in the States & 6 months slow traveling (living) in cheap countries. Even with the slim budget by fatfire standards, you'd be surprised how far money goes for nice modern 1 bedroom condos & eating out in cities like Bangkok, Taipei, Mexico City, HCMC, Lima, etc. The goal is not to simply save money by choosing these places. I genuinely enjoy visiting other countries, especially for food. +* My average spend the past few years has been about $30k/yr (only spend has been on rent, utilities, & groceries). I drive a 2009 Toyota. I plan to increase spending to $60k/yr immediately if I retire now. +* I'm comparing the $5M vs $10M decision based on the thought that even if I retired today with no additional income, $5M will grow to $10M with a CAGR of 7.18% over 10 years solely through market gains, by the time I reach 40. For easy math, I would retire with $5.6M (giving me 10 years of spending at $60k/year and leaving the $5M to potentially grow to $10M) +* Recently, I've had some health issues that had me questioning if my work would really matter to me or anyone when I am near death, whether that is soon or when I'm in 100 years old. + +[https://cagrcalculator.net/](https://cagrcalculator.net/) + +Most of my thoughts are pushing me towards retiring now at 30. I don't see the value of getting to $10M at this point in my life. I just want to be happy + +Please let me know your comments, thoughts, suggestions, etc. Any opinions either way will help me solidify my decision. Thank you so much for your time & input. +I only found Economics Explained, and after watching 2 videos and skimming through the video library, it became clear to me, that this person had some strong opinions about anti taxation, which doesn't do the width of economic literature justice, and isn't very scientific. + +More specifically I am specialised in Spatial and Transport Economics and would love to see people talking about this as a quick way to explain to people what I mean. +Don’t think anyone will be too surprised by this. + +I think I’ve been to the my local cinema twice since covid, initially it was very busy but the last visit to see Thor it was very quiet for such a big film. +Writings been on the wall since the start, for those that bought shares, treat it as a good learning exercise. I made the same mistake with HMV a decade ago. + +https://www.bbc.co.uk/news/business-62607998.amp +My QLD driver licence details were stolen in the Optus ‘cyberattack’ so I’m trying to get ahead of everything. + +I can’t get a new driver licence number. Surely this can’t be correct? I have to wait until my details are used by a criminal first? Live chat with Department of Transport and Main Roads this morning. +At the beginning of 2020 I didn't even know how to buy a stock. Now I have over 44k invested with about $1,800/year in dividends. It's not much, but still it's like I give myself a little raise every time I add to my portfolio. I never knew growing up how to make my money earn me more money. Family always told me the stock market was a scam and school didn't teach anything about it. I wish I would have figured this out when I was 18 or 19 instead of blowing all the thousands I'll never get back. +I am the guy whose bank account details were changed by Zerodha without any authorisation from my side. [Link to previous post](https://www.reddit.com/r/IndiaInvestments/comments/ma3638/review_of_customer_support_and_shady_practices_by/) + +I raised a complaint with SEBI Scores 11 days ago. That complaint was forwarded to NSE last week, and yesterday, I received a call from Zerodha CS rep, admitting their mistake. In Zerodha's words, "Sir, I escalated your query to the DP team, and while checking, they also updated your account details that's why new account details is reflecting on console. Please send a hard copy of account modification form with cancelled cheque to us authorising this change". They were even ready to arrange for a pickup if I were in blr. + +Few takeaways from this incident: +1. SEBI Scores works in timebound manner! +2. Looks like there's not much checks and balances while changing bank account details associated with your demat. +3. Zerodha won't even bother reading and understanding your query before giving a template reply, unless you raise a complaint. +Labeling this DD because, aside from having to do with *an offer to be paid to post DD*, I actually performed due diligence on the [offer](https://imgur.com/a/tziYjXQ). + +If you think those alarm posts yesterday about top posters here/YouTubers getting paid to distract apes during the MOASS was FUD, I'm here with [proof](https://i.imgur.com/ybOBrfA.jpg) it's totally fucking true. (Details edited out for privacy. More on why below...) **I have now sent unedited proof of the company to mods just for public integrity so you all know I'm not making this up. ~~No I will not publicly out them right now~~ [Update 4/18](https://www.reddit.com/r/Superstonk/comments/mtc4xu/buying_influence_the_pump_and_dump_scheme_preying/?utm_medium=android_app&utm_source=share)** + +[Update 1: I posted part of the phone call for the naysayers](https://www.reddit.com/r/Superstonk/comments/msdr64/yall_wanted_proof_here_is_the_first_60_seconds_of/?utm_medium=android_app&utm_source=share) + +Some of you may know my username from memes. Sometimes I overdose on crayons and throw up a colorful DD. Some people think I'm crazy because I've posted some kinda out there theories (I stand by every one of them). But I'm just doing my thing, posting about GME in a few main stock subs since January. Cruising around reddit being a trippy lil pink cat 🐈🍄💕 + +In the last couple of weeks I feel the tides have changed on the battlefront. Obvious paid shill accounts with the ol' adjective-noun-number format in their username started commenting way more hateful, personal stuff on my posts. All kinds of messages that seemed like they were meant to be not too aggressive, but make me paranoid none the less. After I made a few seemingly big connections in my recent posts, my account was reported for self harm. (I am a perfectly happy and content lil kitty, don't worry 🙂). Things started getting a little spooky. I also got over [100](http://imgur.com/a/02FrYiS) new followers just after posting that same OP. (I'm not going to link it here because that's not what this post is about.) + +**Did you hear me?!** *Over 100 new followers in like a 2 hour time frame. After a post that got like 30 upvotes and some Q comments.* + +Which brings me to why I'm posting this now. I was approached yesterday by a brand new reddit account to *Get paid to write posts/DDs/memes in our stock subs, but only about certain NASDAQ/NYSE/OTC/EURO companies. NOT GME* + +I scheduled a phone interview yesterday afternoon because... y'know... curiosity killed the cat. And of course I (legally) documented it. I am not implying the company itself is malicious, that's not for me to decide, therefore I will not be sharing it here. I have thrown it into the void of the SEC and my local reps, along with all the other things I've shared with them. Not as a whistle-blower, because my evidence doesn't necessarily prove (or disprove) anything directly. + +But it sure jacked my tits in the confirmation bias dept. + +As I said, I'm not going into detail about what was discussed. But I would be paid to post DD and other content about a certain assigned company or stock and essentially, it seemed to me, to "pump" that stock in our beloved subs (ok I can actually prove that with the offer itself). It is in fact a real media company making this offer. I think they are paid to come to us top posters and try to ~~bribe~~ distract us away from talking about GME. The woman I talked to was just a rep that knew nothing of reddit or how it works, but she said their "expert team of social media analysts familiar with reddit has been watching me and chose to approach me."🤷‍♀️(Please don't out yourself here if you're among us ༼ つ ◕_◕ ༽つ as I've tried very hard to avoid calling anyone out or accuse of anything directly.) + +I did not give them my real name. They got a burner phone number to [contact me](http://imgur.com/a/itcxxer). I actually requested they just call me Pink for the phone call 🤭👑 + +**I want you to know I'm certainly not taking the offer.** I am not going to be paid to blow up this sub with posts about other stocks besides my precious GME. Like, I literally don't care about them. And nothing will ever pay me enough to mislead or distract my fellow apes. There is no other situation like GME, we all know that. I just got enough information from them to validate that this is a very legit offer, and now I have it. It's my own confirmation bias that all of this is legit, it's not just in our heads. + +GME has already changed my life. This community is literally like family even though I don't know a single 1 of you apes. I want to help, I want to support, I want to educate, I want to boost morale. Paying me to spam distractions during such a critical time? + +Your downvote bots didn't work. + +Your hateful, personal comment attacks didn't work. + +Your onslaught of sudden followers didn't work. + +Your paranoia inducing messages didn't work. + +Your self harm report didn't work. + +AND THROWING MONEY AT ME WON'T WORK. + +🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 + +🦍🤝💪APES TOGETHER STRONG BABY🦍 🤝💪 + +**STAY EVER VIGILANT MY DUDES** ✌ + +🗣Shout out to my real followers I'm buying you all drinks on the Moon 💎💅💕 + +Edit: I was told on the phone that I would post in the same subs I'm already active in. So while this is an opportunity to be an "influencer", it is meant for me to post about *the companies that pay them, in the subs I am already established i.e.- Superstonk, WSBNew, and GME* + +I should also note that their company clients can directly choose my reddit profile and my "expertise/reddit presence" and hire me from a list of these "influencers". They mentioned having contact with 7 other people on "stock reddits" (lol). Idk who I didn't wanna ask 🤷‍♀️ +I keep hearing about this and wondering if its true or false. They claim that rich countries buy resources from developing countries and those rich countries manufacture. This manufactured goods are significantly more expensive than the resources they bought from thus they get more money than those poorer countries. While the rich countries wealth grows very fast the poor countries grow at a slow rate since they dont manufacture. Is this true? Another question I am gonna add. What can these poorer or developing countries do to get richer? +I met a new client recently. He’s American and has just bought a luxury home in a ski resort in Europe to diversify outside of the US. + +Due to the way in which he has purchased this asset and based on the assets he’s told me he owns (not bragging just talking about his other homes, global offices and investments) I believe his net worth to be $100m+ + +The guy is in his late 70’s, just recovered from an illness that nearly killed him and isn’t in great health. + +What shocked me the most, was his motivation to work. His wife asked if he could take three weeks vacation this year to do a tour of Europe. It was as if she had asked him to kill their first born. He said he has never had a vacation that long and 5 days was the most he could do. + +I don’t know if I’m impressed or saddened by it. He seems very happy and has a great sense of humor, but surely at this point in life you want to spend with family and friends and experiencing new things. + +Are these people common? What are your thoughts on this type of living? + +EDIT: This post really blew up, I just want to clarify that I don't mean this in a judging way. In my mind I was analysing the age difference and what fundamentals that caused. + +For me, I'm working as hard as I can so that I can retire as soon as possible. But I think I'd be a hell of a lot more successful if I lived for work in the way this guy does. I've just never met anyone quite like that before - I know some other very wealthy 70 year olds who are still working most days, but they also ski and cycle and are generally in very good health. +I'm having trouble understanding the argument from my friend. +I know people need somewhere to live but I don't understand how being a landlord is contributing to the economy. To me they rent their place to people who cannot afford to buy a house. +But the rent can be higher than the loan installments. And in the end you own nothing. They don't create wealth. In fact, in my country they take advantage of people's desperation and increase prices when they can. They don't create invoices/receipts, so the money I pay to rent is not declared to the fiscal authorities. + +Would you help me understand this? + +What am I missing? + +Thank you. +“Compound interest is the eighth wonder of the world. He who understands it earns it… he who doesn’t… pays it.” - Albert Einstein + + +this is a great calculator with chart - [https://www.hdfclife.com/financial-tools-calculators/compound-interest-calculator](https://www.hdfclife.com/financial-tools-calculators/compound-interest-calculator) + + +# Example One - Ajay, 23 years old, just started a job of 40k rs per month, no previous savings or investments. + +Lets say Ajay starts a modest SIP of Rs 4000 per month. He lives in bangalore which is a high cost city. + + +for the next 5 years, he pays the same Rs 4000 / month even if his salary increases. He expects to withdraw this amount at the age of 70. + + +He will stop paying any amount after the 5th year and let the compounding do its magic. + + +So, Rs 4000 / month SIP, 13% annual returns, 70-23 = 47 years of investment time, 5 years of SIP payments. + + +After **47** years, his investment of **₹ 2.40 lakhs** will grow to **₹ 7.74 cr (at 13% pa).** + + +If he has a house paid off by then, hopefully 7.74Cr in 47 years would be worth something. + + +# Example Two - Rahul (not Gandhi lol), 40 years old, Software Developer, earns 25 LPA, married and two kids. + +Rahul is currently paying the home loan of his fancy apartment and a new car. His wife doesnt work anymore and after paying for the school fees of 2 kids, he is left with Rs 30k / month. + + +He currently has a Fixed Deposit of Rs 10 lakhs fetching him a measly 6% per annum. He never invested in stock market because of his father's beliefs. + + +So now he wants to start an SIP of Rs 10k per month and put a lumpsum deposit of Rs 10 lakhs. this 10k / month SIP will be payed for 20 years. + + +He will encash at age 60 (20 years investment duration). + + +So at 13% pa, at the age of 60, he will get **2.47Cr**. had he NOT put the initial deposit of Rs 10 lakhs, he would be looking at just **1.15Cr**. + + +# Example 3 - Mukesh, 21, is a auto driver in Mumbai. He earns Rs 40k / month. His family is in Bihar and is recently blessed with a baby boy. + +He sends all his savings to Bihar and his family spends almost all of it. They have a bank account but don't have any FDs. Gold and Village land is the only savings they have. + + +Mukesh learns a lot by reading Hindi Business newspapers and ferrying customers near dalal street. He dares to ask questions to his riders about mutual funds and other savings options. Some of his riders give genuine advice, some just laugh at him. + + +Mukesh also knows that without english education and good quality schooling, his son will meet the same fate as him. So he decides to setup a modest SIP of just Rs 1000 / month in his son's name. + + +He decides that he will pay these SIPs till his son is 18 years of age and then let his son pay those EMIs for the rest of his life. + +With no initial deposit, Rs 1000 / month SIP, 13% pa, 18 years payments, his corpus grew to 8.63 lakhs after 18 years. Not a lot of amount. + + +His son stopped the SIP payments at age 18 and soon forgot about his father's investments. + + +After many years, at the age of 60, Mukesh's son rediscovered his father's SIP investment which was stopped when he turned 18. This corpus has now grown to **19.71Cr (at 13% pa)**. He couldn't believe his eyes. + + +Had he continued the SIP payments from age 18 to 60 of just Rs 1000 / month, he would be looking at **Rs 21.83Cr**. Not a lot of increase. +Hey all, + +Robbie here, co-founder at Immutable - GameStop's NFT partner. We've had a *tonne* of questions on the specifics of the roadmap, roll-out, and our joint vision for NFTs. This subreddit is one of the most passionate communities in the world, and I want to start sharing more information with you directly as we build the ultimate destination for gaming NFTs together with GameStop. + +We're going to be dropping content over the next few weeks diving into what this integration will look like, details on Immutable and our vision for the space, and answering questions you might have. + +Today, I wanted to drop some exclusive insights to this community first, visualising what it means when an NFT marketplace builds with Immutable X. We’ll be dropping more content in the coming weeks. 👀 + +\- Robbie ([https://twitter.com/0xferg](https://twitter.com/0xferg)) + +&#x200B; + +P.S. highly recommend checking out our CTO's post on Immutable's [shared orderbook](https://immutablex.medium.com/immutable-x-protocol-orderbook-solving-order-fragmentation-610c2bf5375b), and why this will position the GME <> IMX marketplace to have a huge amount of content from day 1. Highly encouraged reading if you haven’t seen it yet. + +P.P.S We just hired [Riot's General Manager of Southeast Asia to lead Immutable's games,](https://twitter.com/0xferg/status/1499694532761649154) which will be featured & traded on GameStop's marketplace. + +https://preview.redd.it/7u0v6gbxjgl81.jpg?width=1921&format=pjpg&auto=webp&s=7bf77692476bd0c40fc25d9782c34973d15c2794 +In my case I received a pretty significant inheritance and my friend knew the relative who passed away was well off and asked if I had gotten an inheritance and when I told her that I had, she kept throwing out ballpark numbers until I indicated which range it was in. She then gave me all kinds of “advice” about quitting my job, leaving my husband and getting a grotto installed at my home. As if all of that wasn’t obnoxious enough, now simple texts that shouldn’t involve $$ now do. Example: We’re going on a road trip soon and instead of asking if I’d be willing to drive, she sends this: “Any chance we could take your car but I drive? I get so car sick if i don’t. Mine has 160,000 miles on it and I still owe $13,000 - so the less I drive it on trips the better.” I’m worried that her knowledge of my finances will forever taint our friendship and I don’t know if there’s anything I can do about it. + +Edit: I absolutely don’t mind her driving my car and not using hers, that’s truly not an issue! It just seemed a bit odd that she threw the balance of the loan into it. I can’t recall a time when making driving arrangements with a friend anyone had mentioned how much they owe on the car. This could all be my totally warped perspective, but I immediately felt like I needed to offer to pay it off for her or something. The good news is, I didn’t! + +Edit #2: She just asked me to co-sign on a $30k loan for a pool for her. :| +Never thought of this. If you're married does your number needed to retire double or increase substantially? + +Maybe the same question but, what if you have dual incomes? Does the amount needed cut in half or decrease at all? + +I guess my lack of knowing what retirement funds exactly fund is my problem? +My previous post here had a lot of people come out and say Shkreli has done a terrible job of managing his previous companies and using unscrupulous means to get to where he is today. I'm curious how you can do that and come out with 40 million dollars. + +It definitely was not salary. So how do you get 40 mil in the bank doing a poor job? Genuinely curious +I am an inexperienced real estate investor. I offered the seller 20k over asking on a multi family unit. Upon inspection we found leaves and soil that had washed up from the toilet and sewer line in the basement. the seller refused to investigate or remedy this issue. There may be a break in the pipe and this is a costly repair in this city. He clearly has knowledge of this issue and hasnt disclosed it. What are my options before we head to closing? The seller also refused to have the stucco exterior examined for moisture behind the walls when theres issues with the flashings on the roof. Is this customary and prudent business practices for sellers when they’ve received above asking price. He is not even willing to offer a credit. +Hey everyone! It's Warden. I'm taking a brief moment to write a chart analysis post because **I feel that we are nearing a critical junction point**. The volume today has been extremely low, currently sitting at around 1.7 million, and I feel that a lot of people are sensing that something big is coming. I've emptied the rest of my bank account into the dip today to buy more tickets to the moon. + +There's a lot of questions people are wondering at this point. + +When do we squeeze? + +What happens at the Apex of a wedge? + +Are there any important catalysts coming up? + +These are all questions that have answers, and I will try my best to address these. My thesis for this post, is that **as the stock breaks out of the wedge, if it chooses to follow the uptrend, it becomes increasingly expensive and impossible for shorts to bring this down any further. We may possibly climb to a point of no return for the shorts.** Let's examine why by starting with understanding what a wedge is. + +**The wedges I will reference in this post are symmetric wedges.** + +# Why wedges form, and what they mean fundamentally: the long and short theses + +**We are indeed nearing the Apex of the Mother Of All Wedges (MOAW)**; this is the ultimate hedgie wedgie. I wanted to provide a fundamental explanation for why this wedge has formed and what it means for the stock. + +Let's examine the simple uptrend. This is when the price forms higher lows, and higher highs. + +https://preview.redd.it/0ow58qcozbx61.png?width=1228&format=png&auto=webp&s=7f501695cd83669a2a1decb3c2c00d9287e8941e + +And we also know what a downtrend is. Lower highs and lower lows. + +https://preview.redd.it/9jo273vuzbx61.png?width=1256&format=png&auto=webp&s=bc6d22c85c97b4436e3231220cc3aa7fac974b1e + +And uptrend is called the **frontside**, and the downtrend is called the **backside.** The thesis of people trading the frontside, is that they think it will go up. For short sellers, they trade the backside, because they think it will go down. + +Now if you get a really volatile stock, you might end up with a combination of the two theses, with two parties doing different strategies. This is why a wedge forms. Both theses are valid, and so both parties continuously trade in this wedge pattern. + +https://preview.redd.it/e7jvt1kd0cx61.png?width=1242&format=png&auto=webp&s=603621ecb51b5732735bc30ec339843c6ddb210c + +The short side thesis and strategy looks like this: + +https://preview.redd.it/onotnpjr2cx61.png?width=1164&format=png&auto=webp&s=cb41c92ad2a6006143e750b21f17154e66829214 + +Imagine the opposite for longs. They buy at the dips, and the sell at the peaks. + +Thus, combining these two theses, we can conclude that: + +When the stock moves up, that's **buying plus covering.** + +When the stock moves down, that's **selling plus shorting.** + +Simultaneously, Longs and Shorts are both making money because they both have valid theses. One thinks the price will go down, and the other thinks it goes up. + +# Why the short thesis is invalid. Understanding OBV, the Spread, and FINRA's own short volume data + +**However there is a big problem with the short thesis for GameStop.** + +The short thesis is actually invalid. + +https://preview.redd.it/7ze2foyz1cx61.png?width=2062&format=png&auto=webp&s=10549bec5dce5197da52ab5204f6fa54d30aafa4 + +Notice how throughout the entire duration of this triangle, OBV is flat. On Balance Volume info: [https://www.investopedia.com/terms/o/onbalancevolume.asp](https://www.investopedia.com/terms/o/onbalancevolume.asp) + +&#x200B; + +Take a look at a normal stock like Palantir. When a short thesis is valid, the price breaks out to the downside after the Apex. Palantir in the below picture, was a short side success. **Notice how OBV falls during a short side success.** + +[PLTR](https://preview.redd.it/s5d0jawj4cx61.png?width=2067&format=png&auto=webp&s=6b2ca4791a1926035b777a5bdb783853333482ac) + +Or Activision. In this case, **OBV goes up when the longs win.** + +[ATVI](https://preview.redd.it/vf7mgxbz3cx61.png?width=2061&format=png&auto=webp&s=b7ad83288ae0ff764c1127ace082cb58edfb8d31) + +**I challenge you to find a stock that doesn't follow these rules on a macro level timescale.** + +OBV increases, if there is more volume during uptrends than volume during downtrends. That means there is greater buying interest. Vice versa. + +When there is an imbalance of buyers and sellers, at the Apex of the triangle, there will be a "breakout". **This is because, at the apex, one of the two trends breaks. Either the upside or the downside trend is violated, forcing one of the parties to flip their thesis.** So if we go to the upside, the short sellers would flip to long side either by buying stock, or finally covering their shares. + +So what about a flat OBV? + +[GME](https://preview.redd.it/0cidbb045cx61.png?width=2061&format=png&auto=webp&s=f79cf98e9860e4b76b95632c0d12fbb8cae66c1b) + +I believe it means that throughout the duration of the wedge starting 2/24, nobody was f\*king selling. It was almost exclusively shorts short selling combined by less covering than shorting and retail buying in. + +In a way, it's actually an illusion that they are tanking the price. In reality, the real price is whatever the uptrend line is. So here, I think the "real price" is around 155 dollars. **We've actually been climbing up at the macro level.** I think this has to do with the spread. + +If you look at the Level 2 order book, you see the highest bid is 160.6, and the lowest ask is 160.74. + +https://preview.redd.it/2xhnfm2x5cx61.png?width=458&format=png&auto=webp&s=b364e3142324dea832e79c86cc386d38247c961c + +The goal of short selling is to tank the price. So you typically sell on the Bid. When you want to cover your shares, you want to ideally also buy on the Bid, because buying on the Ask is more expensive. However the issue is that liquidity is low, so if you have a deadline to cover FTDs, you need to buy on the Ask a lot. You actually end up losing money and the amount you lose is roughly equal to the average spread multiplied by how many shares you shorted. **The only way to profit from short selling, is if people sell more than they buy after you short.** Trading is a Zero Sum game, so the goal of short attacks is to paper hand people. + +The problem is we see consistent higher buy:sell ratio, meaning that more people are buying than selling. **Thus** **you probably can't make money if you short millions of shares, because eventually when you cover:** + +**A) You lose money from the Spread** + +**B) The price is already increasing from an excess of buyers.** + +Furthermore, what's even worse, is that the daily short volume percent is greater than 50% on average. + +u/dinghino crunched FINRA's own short volume numbers and concluded that the majority of daily volume was short selling. Here's his tool for grabbing historical data: [https://github.com/dinghino/stocks-historical-data](https://github.com/dinghino/stocks-historical-data) + +https://preview.redd.it/f9ofzm1x7cx61.png?width=2098&format=png&auto=webp&s=1370117bc4f55b069038b4c670422e01e3175ff1 + +Keep in mind FINRA both underreports short volume, and total volume. So the data we have is limited in reliability. There is a probability that short volume might be <50%. I have not been able to find other data sources that can confirm or reject this analysis. + +Okay, so first, we realize that they cannot really profit from shorting at the downtrend, and second despite this fact, they are shorting more than half the daily volume. + +Ouch. + +Now let's tie in the last two pieces of the puzzle. So how can there be a flat OBV if there are an excess of buyers? I believe it's because the Bid has been hit so much more than the Ask from the short sellers that it has caused the price to be artificially lower than normal. Thus, there's an increased number of days that the stock ends in the red, decreasing OBV. + +**I believe that the OBV is actually trending upwards. It's an illusion that it's flat.** The Bid has been hit from selling more than buying has hit the Ask. Therefore the net direction is down. The excess of retail buyers balances this out and causes the OBV to end up going flat. + +**We are not losing this fight. We are in fact holding strong and buying.** + +Furthermore, from the updated institutional data for Q1 present so far in Bloomberg, we see a couple institutions "derisking" and others actually buying more shares. Some institutions appear to be out, but a lot more are actually in. **Institutions are HOLDING so far, and perhaps actually buying.** + +https://preview.redd.it/bmfd4vj2acx61.png?width=2554&format=png&auto=webp&s=bf57f6fb1fea6df4fdecdf5e1d86713be9270091 + +Keep in mind that this is a **TINY SUBSET** of all the **Q1 13F updates that will be filed before 5/17**. **I will be closely watching everyday to see what the majority of institutions are doing.** + +I believe 5/17 will be a very important deadline for us to find the new data. + +So great, everyone is holding thus far, shorts keep shorting, and the spread and buyers are killing them. Lol. + +# After the Apex, shorts will drown. + +After the Apex, the downtrend breaks. Shorts will be forced to create a new downtrend. + +https://preview.redd.it/iyennh85bcx61.png?width=1943&format=png&auto=webp&s=d111a1b72b0add2ac7e8e72785c5e804bdc8f8db + +If they haven't given up, they'll likely react with a large short attack in an attempt to establish a downtrend. + +https://preview.redd.it/jl7wfta3dcx61.png?width=2225&format=png&auto=webp&s=a5d246531d1792e7a1580605d918f91f864c66b2 + +However, given that GME is hard to borrow, they can only short a limited amount of shares. And because people won't sell, the shorts will be stuck trying to short into an uptrend due to the excess of buyers. **This is the short staircase, the establishment of a new uptrend slightly below the Apex that will slowly choke the shorts to death.** Every time they try to bring it back down, they have to eventually cover on the Ask. Couple that with the buying pressure, their short attacks get weaker and weaker each time as this uptrend slaughters their P&L. + +Take Tesla as a historical example. + +A short staircase choked the shorts. They were like "oh fuck, I'm screwed, better cover". + +https://preview.redd.it/6s4ec3fvccx61.png?width=2062&format=png&auto=webp&s=570438c7eebe40fe5ec82ad578b1570031f78b5b + +&#x200B; + +Seriously. I see no fucking way out for the shorts. To create a downtrend, you need a continuous supply of shares to short. Or you need people to sell. **Both options are out of the question.** + +**The catalyst might actually be the chart itself. Not so much a fundamental change in the company. But a fundamental change like a new CEO can certainly light the fuse.** + +# Summary/TLDR + +Wedges form because Longs and Shorts both see a profitable strategy. + +Shorts are not able to profit because of the Spread and the excess of buyers. OBV is flat because everyone is buying and holding. + +The price might drop after the Apex, but an uptrend will form that will smother the shorts. Eventually they will panic cover. + +Bloomberg shows recent institutions are buying and holding on average. + +**After the Apex, the short thesis of being profitable from shorting becomes invalid (if not already).** + +**5/17 is an important date. It reveals the poker hand of the Longs as 13F Q1 filings are due by then. If they are still holding, then shorts are DOOMED.** + +The price isn't actually decreasing from these short attacks. **It's actually steadily increasing. The drops are an illusion.** + +&#x200B; + +Thank's for reading. I'm as bullish as ever on this stock. + +\-Warden +I like Dr Wolff but feel he blames capitalism for that which it inherently can’t be responsible for. + +Take his example in this vid for instance + +Per his analogy, the employee (us), would have agreed to not partake in said ventures profitability, in exchange for the security of a stable income. The entrepreneur (Harold) doesn’t have that security, so if the business fails, he would sustain losses. We on the other hand could walk away scot free. + +Capitalism would also allow us to partake in profits if that’s what we want. We’d simply start a restaurant of our own or develop an equity agreement with Harold. + +Why do all of capitalism’s critics accuse it for things it isn’t responsible for? + +https://youtu.be/2mI_RMQEulw +4 years ago today I was sitting in the Atlanta airport and getting more and more annoyed that the FIRE community was being overtaken by the leanFIRE way of thinking. + +So I created a new subreddit called fatFIRE to be a place where people who were interested in FIRE, but on a higher standard of living, could come together and discuss issues without the noise of “just cut your expenses down to the bone and buy vanguard index funds” parroted endlessly. + +We will always be a smaller community (because that’s how wealth works) but seeing 100k subscribers is amazing! I’m so gratified to see real in depth discussions happening every day. + +Happy cake day everyone! + +PS my original account u/tamo42 got banned from Reddit for unrelated stuff, and that’s probably the best thing that could have happened for fatFIRE. The mods have done a great job at fostering community since then. +Honestly, I didn’t want to post this myself since there’s probably two dozen of these posts in the queue, but all of the recent ones look like they’re written by 8 year olds. + +Normally this belongs in the daily advice thread, but because of recent events and concerns over Robinhood’s ability to serve customer(I been telling y’all for years) we can have a thread in it + + +So here we are: recommend and discuss brokers, fees, features, mobile apps, whatever. In general I think everyone is best served by Fidelity, Schwab, or Vanguard. TD is another major player but for those unaware they are in the process of being acquired by schwab. All three of those actually have phone numbers where you can call and speak to a person about your account. + +For the younger crowd; a phone call is similar to voice to text, but instantaneous. + +Also, feel free to chat apps or whatever too, + +E: [here is an overview of what happened with Robinhood](https://reddit.com/r/investing/comments/l7t4pg/an_explanation_of_why_robinhoodapp_nonnefariously/). No conspiracy theories or anything included, just a technical explanation. + +Also, [my comment and subsequent conversation around liquidity concerns at Robinhood](https://reddit.com/r/investing/comments/l7qlfh/_/gl88dzj/?context=1) + +Please note - I don’t have any special insight here, this is strictly my and others interpretation of the tea leaves. Feel free to discuss, and explore other interpretations. Whatever broker choice you make is up to you, the important thing is that it is an educated choice since it’s ultimately your money. + + + +#**No referral codes. Posting a referral code will result in an immediate no questions asked permanent ban** + +Thanks. +Hello together, I don't know if this is the right subreddit, but maybe you can help me (or point me somewhere): + +So I've gotten a Bachelor's degree last year in Economics and started a Masters. + +But I fucking hate it. What used to be a general dislike turned into full on hatred once the pressure of having no degree if I fuck up was gone. + +What do I hate about it? +Well, mostly the fact that all the jobs I could get (as far as I know) involve me sitting in front of a screen all day. Analysing stuff I don't care about to make money I don't need (well, I need money, but not that much). I used to be a lot more career minded, had some student jobs and internships at good companies in consulting (Big 4), banking, and technology. Hated it all. And looking into these people's faces - most of them didn't seem to be happy. Additionally, some experiences I had made me a lot more spiritual and to some extent dislike material pursuits. + +I don't know what to do. I'm 26 now, in my second semester. I'm paying my bills with my part-time job, but I don't plan to stay in Customer Service forever. + +Honestly, I liked doing research (that's what got my grades up to an good or acceptable level). But I don't want to slave away getting a PhD and being stuck in the ivory tower. + +I was thinking about staying in the master's and either get an internship while I'm still in it, or drop out and starting to work at some NGO (think more Oxfam and less IMF), union or something similar. Doing tangible things to help everyday people. + +Has anybody experienced anything similar? +I'm really just so pissed off and sad. I feel like I actually only got a raise because they knew my hours were getting cut, and they didn't want to make me feel bad. I can't believe this. And I was getting commission, but since I'm not full-time "for the time being" I don't receive commission. Overall my monthly income is now $1,000.00 less... I'm just venting and I do realize it could be worse. Still, this sucks. I'm 24. I have hospital bills (\~$80/mo), credit card bills (\~$215/mo), other fucking bills, (\~$300/mo). I was saving up to move out of my parents' buuuuuuut that's not happening now I guess. + +My employers have told me not to get a second PT job at the moment because "it's only temporary" and "it could only be a month or two" Well what the fuck does that mean? No one tells me anything at this company. This is fucking bonkers. I feel like sticking my head in a microwave. +Fuck Chase. Opened a Chase savings account a year ago for the bonus, and when i closed it out last week they ended up giving me 19 cents more than I had in the account after accrued interest. Called their customer service several times and got a "too busy" signal/couldn't get through, today sat on hold for like an hour to talk to customer service because a banker at my branch said it was likely just a clerical error, and when I finally got through they said that i owe them money, and because my account is pending closed I cant transfer it or mobile deposit (according to the customer service rep), but have to hand deliver 19 fucking cents to the physical branch. Fuck Chase, they're never getting a dime from me again + + +I've been landlording for 5 years and had several challenges arise but this is the first time a tenant has died. + +Long story short: House is paid for. I rent it out. Things go well first year. Covid happens and I decide to not raise rent on any of my rentals for 2 years because times are hard for everyone. The tenants at said house start to struggle and lose their employment during Covid. I start a payment plan each month and they are able to pay the rent over across 3 fees spread out over each month. They are living paycheck to paycheck. + +They suddenly are really late and miss their promise to pay. I investigate and find out the one of the tenants changes job and they are paid on different weeks. I wait an extra week and they pay everything and things return to normal. + +2 months later (now, days before Christmas) car wreck. Husband dies and other family in critical care... + +I tell them not to worry as they try to find funds for burial. I'll work with them on their rent. I really don't think they will be able pay in the future since the major "bread winner" has passed. I have a plan on what to do but I'm reaching out to all of y'all to see what you would do in my situation. + +What do you do? + +The house is paid for. Taxes and insurance continues to increase. Their are occasional issues with this house and I've already thrown away 8 months profit replacing HVAC and various appliance that wore out this year (it was expected). I'm financially okay, but have other plans for this money and this is a business, but I am by no means going to evict a single mother and her kids after losing their father just before Christmas. These tenants have rented from me for about 3 years. That's some of the background. +Long time lurker, first time poster. I landed a remote role as a contract developer such that my annual base compensation is 1cr+. Till now I was earning 20lpa as a salaried person with PPF and MF as the investment options. I used to file my own taxes and never talked to any CA. My family (extended family also) is also all service class and they do not have a CA as well. In a nutshell we are very simple middle class folks living in govt housing minding our business and writing exams to land jobs. + +With the new contract there are so many changes that I am at my wits end as to where to begin. Till now I have collected some information but I am laying it out here to discuss with the community. I thought of putting this in bi-weekly thread but I felt this can serve as a generic information post for folks looking to invest largish amount of money. I am going to update this with more information as I find. + +It would be great if the community can contribute the questions I should ask myself or Google around to make a path to success. + +Few questions I am looking at: + +1. As a contractor I would serve as a professional. I won't have any of the usual tax saving schemes like PF or 80C. My ITR will also change from ITR-1 to ITR-3. What are the tax saving instruments which I can employ? + +2. Does making a large investment in real estate sound good in the changed scenarios when I will be remote always? Till now I never thought I could buy a house in next 5 years. +