diff --git "a/reddit_finance_43_250k_250.txt" "b/reddit_finance_43_250k_250.txt" new file mode 100644--- /dev/null +++ "b/reddit_finance_43_250k_250.txt" @@ -0,0 +1,10000 @@ + +-**Q4 Sales guidance $140B-148B, below $155B expected** + +More details here: + +https://www.cnbc.com/2022/10/27/amazon-amzn-earnings-q3-2022.html +What happens when a country admits or declares that it cannot effectively pay back its national debt. At $20,000,000,000,000 our debt spreads out to over $60,000 per citizen. the new budget being put forward will push us to $29 trillion by the end of 2026. Who will hold accountability for this massive burden being passed on to my generation? Debts must be payed back and it seems as if the people who have been racking up the most of it have no plan to eliminate it before their generation dies off. We have a massive college debt problem that has acted as economic shackles to imprison our future work force. Millennials (I hate the term) are not saving due to ridiculously low interest rates that mean you are losing value to inflation when you are not spending your money and keeping it in a bank. With baby boomers and gen X ers aging you can also consider the irony that our upcoming generation will be paying social security to support their retirement on top of working to pay back their impossible mountain of debt they will be leaving behind. This system is finite. It CANNOT support it self. The older generation and those before them have rigged the game badly it has become impossible for the new players to beat. This IS a very big problem for our future. This is the world you are raising your kids to grow up in. They will be a slave to the debt you left behind. Some how nobody seems be able to even just admit that this is a problem worth seriously considering. People know we have debt but have become so accustomed to the idea that borrowed money holds no consequences that we shrug it off and say we will worry about it some other day. What day? When do we plan on fixing this? Every year our debt rises. If we can't even slow it down how do we plan to reverse it. We don't. We can't. A day will come in the future when the very last of the dying generation that put us here says "sorry, we cannot fix this for you." Consider this. If that day comes, and we fully come to an agreement that our debt cannot be payed back and that our nation has become bankrupt, what happens then? +Looking for some advice. I have saved -- a lot. I'm terrible at investing and keep putting it off so it's currently in a low yield savings account. I have just under $500k in savings and my husband and I are house hunting. If we paid all cash, we'd be left with about 50-60k but we both have steady jobs. + +With interest rates at 2.5% or so, is it stupid to consider paying all cash? Should I finance and finally get around to learning about investing instead? + +ADDED: Thank you, everyone. A little bit of background - I grew up poor with parents who had no idea about investing. It's less that I have been scared, and more that I an ignorant about it and have not spent the time researching it. This has ended and now is the time. I am married, 32, and have no other debt after paying off student loans. I do max out my 401K every year (and have since 22) and a ROTH IRA. + +&#x200B; + +Another update in comments! +This is THE most pathetic thing I’ve ever seen. There are people on Twitter (KTOV now, GNUS previously) that are @ing and demanding PR from CEOs. “Like, look Bryan, I know you’re concerned that the $100 you put in RobinHood is now $89, but we are literally trying to cure cancer”. + +These companies literally owe you nothing. Especially you fucks who have no idea what the company you are investing in does. Rocket emojis and “to the mooon” are not reasons to invest. + +Rant over. Expecting this to be removed, but please feel free to keep if any of the mods are feeling similar. + +Edit: Thanks for upvoting this into oblivion and keeping it front and center. With that being said, KTOV & HTBX to the moon? +I have seen a few of these posts, and wanted to share our experience as first time homeowners! It's been a ride, and I know there are people browsing who are beginning the journey of homeownership - so feel free to learn from our mistakes! + + +My husband and I talked about and researched homes for about 2 years, and then began the buying process in 2020. We live in a large midwest city where nice homes were selling for $300,000 (listing at $250,000). Our budget was $175,000 for a condo with less than $200/month fees or a house <$240,000. We had a spreadsheet for cost/property taxes/fees that we used. + + +We found a gorgeous, spacious, 25 year old half duplex for $245k. 2 full bath, 2 legal bedroom, a basement "legal" bedroom and an office. It's in a very nice area. Our relator assured us that if we got the house for $245k it was a steal. We ended up getting all of our closing costs covered and a credit for carpet. Part of the sale was that it was not contingent on inspection and seller was not expected to pay for repairs. + + +Here's what we really spent this year: +\- $4000 carpet + $1000 to replace rotted subfloor sections from dog pee we began to smell in April +\- $6000 for Furnace/AC (on special) +\- $5,500 for a rotten patio door + water damage +\- $500 gutter work/upgrades +\- $250 dehumidifier +\- $500 heating vents for basement +\- $600 plumbing repairs (took two visits to fully resolve issues) +\- $175 fireplace/chimney inspection repairs +\- $50 landscaping help (cut overgrown bushes/trim low hanging branches) +\- $1700 in unpaid property taxes that legally we were required to pay (we tried to fight this) +\- $1500 property tax jump 2021 +\- $100 fridge filters (who knew) +\- $500 garage spring/pin pad/new remotes +\- $1000 scam "handyman" +\- $200-$500 tools/minor repairs + +Things for 2022/The future: +\- Electrical work $TBD - we have a huge list of non-urgent work +\- Water softener - $1500-$1700 estimate +\- Washer/Dryer replacements $1000?? - they're in terrible condition but my clothes still smell clean...for now. +\- Pest Control $TBD if needed (mice prevention/carpenter ants/spider spray) +\- Garage will need a new motor when it dies $500 +\- Roof is overdue $5000 for our half +\- Windows - There's are 11 on our half that are showing wear +\- Bathroom upgrade - minor water damage from previous owner +\- There is some sort of issue under the kitchen sink that will need to be dealt with eventually +\- Add custom closet organizers/panty organizers $1000 budget? +\- Replace warped front door $2000+? +\- Landscaping/cut down tree in front $?? +\- Fresh layer of indoor paint (someday....) +I'm seeing so many promotional posts or clickbait titles to random "news" and shill level content rather than what we want to see: Discussion on the market. It's really annoying the past few days when you can't find a single post about price or market health but there's a bazillion on ICOs and different projects. +[https://www.bnnbloomberg.ca/cn-strike-means-quebec-has-less-than-five-days-of-propane-left-premier-1.1351730](https://www.bnnbloomberg.ca/cn-strike-means-quebec-has-less-than-five-days-of-propane-left-premier-1.1351730) + +It's just so funny if propane will actually over, considering that Quebec is all pro green and against dirty oil and gas from Alberta. I live in Montreal myself, but maybe people needs a kick to understand things. + +Have you ever seen a pipeline on strike? +I am currently a 19 year old Uni student who is having a hard time when is comes to finance. This hasn't really been an issue for me until I have realised that I am missing out on so much stuff normal 19 years olds do. + +Lately I have been feeling shitty because of this and wanting to make a change about my situation. As the title says, I am a 19 year old uni student who makes little money off online surveys. I'd say I make around $20 a week off surveys which is good for a cheap 6 pack on the weekend with the mates but that's about it. + +I recently applied for Centerlink youth allowance due to being a full-time Uni student but was instantly rejected due to my parents earning too much which is fair enough but at the same time it's not like my parents are loaded due too having many kids + one with special needs and a lot of other stuff which I wont go into detail about. + +Jobs are hard to find at the moment especially when you have no experience in the workforce. I am sending at least 15 resumes a week and haven't heard back from anyone in the past 2 months. + +I don't know what to do at this point, I am tired of missing out on meetups or going to places which my mates due to lack of money, feeling like i'm wasting my life away and feeling very shitty about myself because of it. + +What steps can I take to improve my financial situation? + +Thanks! + +Edit: Thank you so much for all the replies! I feel a lot better about my situation now have a good idea as to how I can overcome this situation. +Malta To Allow use of Crypto by $100bln  Igaming Industry + +The  Malta Gaming Authority, one of the world’s biggest authority when it comes to online gaming, has just issued a white paper to consult on the use and acceptance of Crypto by online gaming companies. This is massive news for crypto in general. Malta’s IGaming industry, an industry that has huge international companies like Betsson, is thought to generate over $100 billion in turnover. By allowing gaming companies to start accepting crypto, Malta once again has placed itself on the forefront as a crypto jurisdiction. This follows the news of major exchange, Binance, opening up in Malta as well as the imminent introduction of the new legislation regulating ICOs. + +This follows a speech by Malta’s Prime Minister, Joseph Muscat said that cryptocurrency will become the “future money”. Prime minister  Muscat asked his audience: “Have any of you ever thought about what gives paper money its value when it’s ultimately just pieces of paper? It is because society attributes value to it. Now some people, who in my opinion are geniuses, are arguing that value can similarly be attributed to virtual currencies.” + +If Malta’s government will continue in this approach, the island will inevitably see more companies using blockchain technology embarking on Maltese shores. + +Source https://ellulschranz.com/malta-allow-acceptance-crypto-igaming-companies/ + + + +So I'm 22 and for a few months now I've been working this freelance gig that comes out to around £1750 per month. The trouble is everyone in my family has been making under £12500 their whole lives and so have never filed taxes, which obviously I'll have to. Since I won't have made over that threshold for another 8 months, does that mean I pay tax from a period starting at my employment or is it just the first year that I make over £12500 across the 12 months in that year? + +Something else is I send a decent chunk of money to my partner abroad who's still studying, how would I work that into my self-assessment? Is there any tax rules for sending money like that? + +Sorry if these are dumb questions, I'm just worried since I've only just realized no one in the family has a clue 😂 +New investor here. An agent just flat out refused to work for me because my price point was too low. I was looking for properties I could buy in the 30-60k range, reached out to an agent of an interesting looking property, but we found out the property was no longer available. So I just asked the agent if they could keep on the lookout for me, and he responded by saying that it wasn't worth his time. Like, ouch, my first setback. I thought agents were the best way to find property. If agents won't work for me because my price point is too low, then what am I to do to find deals? +Hi Everyone, + +Just bought a really small house for myself and to AirBnB when I'm not using. House is tiny – less than 1,000 Sq Ft. It's in pretty rough shape though. + +I've been getting quotes from contractors for it and the prices they've been asking for are more than the house is worth! + +Here's what I need done – roofing; siding; floors need to be leveled; new drywall needs to be placed throughout the house. + +I'm not looking for high quality, just someone to get the fundamentals done and I can do the rest of the finishes. + +Does anyone have any tips on how to do this cheaper? The quotes I've been getting have been 60k+. I assume materials for this job would run maybe 15k to get it to the state I want it in. + +Any tips would be greatly appreciated. Want to start using it, but can't afford the renovations at these rates. +https://www.cambridge-news.co.uk/news/uk-world-news/tesco-clubcard-vouchers-shoppers-overcharged-19100314 + +Anyone noticed this tactic from Tesco lately? They've been setting "low" prices if you purchase via Clubcard and hiked-up prices without it. + +Seems like another shady data collection tactic. +I have a question regarding a margin account. Let say I have a $10,000 margin account, shouldn’t my options buying power than be $20,000? I have messaged my broker about this and they replied saying margin isn’t allowed on options. This confuses me because I have seen numerous people online showing buying options or selling options using margin. Can someone here maybe help me out and clarify this, thanks. +I'm new to trading and I'm trying to wrap my head around the fundamentals. I always see people say "never risk 1-2% of your account". Say if you have $100k and are trading stocks, does this mean: + +1) I'm only purchasing $1-2k per trade and risking the entire amount + +or + +2) I am buying $100k worth of the stock and setting my stop loss so that I will only lose $1-2k + +Being new to all this I realise that could be oversimplifying things and have it completely wrong. Happy for anyone to impart some wisdom on how the risk ties in with position sizing! Cheers +I am just curious if it's even possible to become very wealthy after a certain age. I know it takes a lot of work and the right idea, but just wondering if it's even possible for someone who is in their early 30s to work their butt off and become wealthy after the age of 40. I am basically asking for myself as I want to make something of myself, more than I have. I never knew what I wanted to do with my life and still don't really. I am considering starting a business, but I know that's not a simple process. However, it's pretty much one of my only options as I am not particularly talented or well educated in anything else. I mean there are things I've enjoyed, but never took them seriously enough to make money from them. I just wanted a little advice really. +We are a couple with combined income of £80k (50k and 30k). We have c. £65k cash to put down as a deposit for our first house (we're 29/30yo). + +We've been looking at houses around the £300k mark, maybe creeping up to £325k so able to put down 20%. Putting this over 35 years, with really good rates at the minute, we'd be paying c. £875 a month (would plan to over pay but prefer to have it over longer and reduced monthly payment for security). + +We have however just seen a perfect house for £400k and have started to wonder if we should stretch ourselves further. Looking at mortgage quotes we're being told we could borrow up to £380k so doable on that side. We could put 15% down and over 35 years our monthly repayments would be c. £1100. + +Our monthly income is around £4650. With housing bills (Council tax, utilities, WiFi, etc) I guess the overall cost of housing would be around £1600, so about a third of our income. + +No kids at the minute (but maybe at some point) and car nearly paid off with no other sizable bills so it seems doable but is quite a daunting figure. + +With these numbers what would you do? +https://www.cnn.com/2020/02/16/investing/stocks-week-ahead/index.html + +Why do stocks continue to rise in the face of anxiety about the coronavirus? Ongoing support from the Federal Reserve, a stable outlook for corporate earnings and fear of missing out may have something to do with it. + +The latest: The Dow finished the week up 1%, while the S&P 500 closed 1.6% higher. Both indexes hit all-time highs mid-week. The STOXX Europe 600 index rose nearly 1.5% after climbing to a fresh midday record on Friday. Even the Shanghai Composite managed to lodge a 1.4% increase for the week. +Not seeking financial advice but opinion to do research on: + +I have a 1 yr old son. I have $100 and a custodial brokerage account. What would you put it in? I was leaning towards SCHD. I figure the growth and dividend should be pretty sweet in 17 years. Of course I’ll be adding over time... +Good Morning Everyone! + +With the FED minutes out of the way but still mildly inconclusive the market can begin to stabilize a bit after the last few days of uncertainty. It's likely that the rate increase of .25% has been priced in and the possibility for no rate increase at all will be a bullish signal. + +Moderately low ETF FTDs for today as well as MM FTDs + +ETF + +https://preview.redd.it/zypsvcrqcei81.png?width=341&format=png&auto=webp&s=3ca2f7eb8212ce399548ad8775e7ccda3e7a11f8 + +MM + +https://preview.redd.it/xmpwm61vcei81.png?width=2120&format=png&auto=webp&s=8a62aaf440e73b0ed9684267456480e39bf43a56 + +So if we see any significant upside movement it will be due to continued delta hedging of yesterdays slight increase, and or pre-hedging of this Friday's OPEX expiration. + +This hedging the run up in advance can dilute the volatility of the T+2 gamma exposure event next week. A similar tactic was applied moving into Nov. 19th last year. + +With some bullish sentiment returning to the market, it could support our climb up. + +GME trend technicals are looking good + +[ADX & DMI+\/- on the 1D](https://preview.redd.it/uxabcj8pbei81.png?width=1574&format=png&auto=webp&s=b0a4a273157bd2a5bed88f70a11a825354b834c0) + +[Still trading slightly above our current support we could see another test of 130 today. The call OI from 130-135 really dies off and there is not much to support a move beyond that. If we fail to maintain support \(more likely due to low expected volume\) or the market turns downward I expect we will drift back towards max pain at 125 or our low support at 120. ](https://preview.redd.it/uby7a8ifeei81.png?width=1733&format=png&auto=webp&s=ad8ee7e416db12910f357c47c83d9a4cd50cf33a) + +**DIX Pics** + +[Dark pool volume still elevated ](https://preview.redd.it/zv8u7qlbfei81.png?width=2506&format=png&auto=webp&s=acb3b3c1fee97d9edfa7852be15ba5e1c006dd4f) + +[IV holding steady no significant increase yesterday these low volume slow climbs tend to stabilize volatility which is beneficial for those holding variance swaps](https://preview.redd.it/huk6dyngfei81.png?width=2509&format=png&auto=webp&s=2abbfb3d03853caa30c10b5056b1fc211b2a7dc3) + +[GEX still climbing](https://preview.redd.it/ukcev9tifei81.png?width=2475&format=png&auto=webp&s=c82e9f197f2fe69a2cc8be11281868aceb545928) + +&#x200B; + +[Thanks to u\/Brave-Vacation6792](https://preview.redd.it/9x1zmdf9iei81.png?width=1225&format=png&auto=webp&s=b61fee9f810be596e3486525f86d74afefa9e065) + +**You are welcome to check** [my profile](https://www.reddit.com/user/gherkinit) **for links to my previous DD, and YouTube Livestream & Clips** + +Historical Resistance/Support: + +46, 92, 98, 100, 104.50, 116.5, 125.5, 132.5, 141, 145, 147.5, 150, 152.5, 157 (ATM offering), 158.5, 162.5, 163, 165.5, 172.5, 174, 176.5, 180, 182.5, 184, 187.5, 190, 192.5, 195, 196.5, 197.5, 200, 209, 211.5, 214.5, 218, 225.20 (ATM offering) 227.5, 232.5, 235, 242.5, 250, 255, 262.5, 275, 280, 285, 300, 302.50, 310, 317.50, 325, 332.5, 340, 350, 400, 483, moon base... + +# After-hours + +We fell a little below our expected range today toward close, large number of ITM 1DTE puts bought towards the end of the day. But still did well given the overall decline in the S&P. Tomorrow is the options expiration day for this Quarterly cycle. We may begin to see a significant amount of hedging occur, if we do not I expect next week to yield some decent gains as Quarterly ETF and Index options gamma exposure is settled. Thanks for tuning in, see you tomorrow. + +\- Gherkinit + +https://preview.redd.it/ueze99asjgi81.png?width=692&format=png&auto=webp&s=428363eaa7b5a1fc24e5a899af6834dcdc4894c2 + +[Fellow to the lower trend support from this morning but we are setup nicely for a bounce.](https://preview.redd.it/okurddiukgi81.png?width=1576&format=png&auto=webp&s=24c3217cc01a547b6400e9b91a213a9705b3dc30) + +Edit 4 2:31 + +Finding a soft landing on this support at 123.4, 50k shares borrowed a little while ago precipitating the tail end of this drop. Buy pressure mounting looks like we could move up into close if demand picks up. + +https://preview.redd.it/3evamxiw3gi81.png?width=1579&format=png&auto=webp&s=16f2db231b6d46e25b6a3e9ae2fd8cdea6abec44 + +Edit 3 2:03 + +Dropped back down to max pain we could see a bit lower, If you look at Nov. 18th we are tracking almost exactly which could mean big up tomorrow if the pre-hedge their exposure. + +https://preview.redd.it/jqe61aatyfi81.png?width=1573&format=png&auto=webp&s=10f724cfc189c47ab2665d3b96423ef39d7ef9f2 + +Edit 2 12:08 + +Intraday trend is weakening. Looks like we are gonna head back down to the 126-127 range, this looks like an attempt to siphon off some of the IV that was building earlier. + +https://preview.redd.it/g31b5p9befi81.png?width=1593&format=png&auto=webp&s=6ecf87d625da1d91a452268da48b9fc37c4f2ff1 + +Edit 1 11:15 + +Very low volume slow climb, continuing to inverse the overall market outperforming once again, and moving into our 3rd test of the 130 resistance today. If we can break 130 there is still a bit of a dead zone up to 135. The positive trend is however staying strong. + +https://preview.redd.it/hzu2txyt4fi81.png?width=1588&format=png&auto=webp&s=b66340e652cc523201b3aaf59833a52e308c1d23 + +# Pre-Market Analysis + +Low volume and basically flat for much of pre-market today. + +Volume: 7.48k + +Max Pain: $125 + +Shares to Borrow: + +IBKR - 100,000 @ 1.8% (drop of .8% in the rate here) + +Fidelity - 2,306 @ 1.5% + +[GME Pre-market on the 1m](https://preview.redd.it/s4pv71hngei81.png?width=1589&format=png&auto=webp&s=84a7ea8f356d71cd1a58eee510841dbbd3069418) + +TTM Squeeze + +[looking very similar to the May run up right now](https://preview.redd.it/33iw6c34hei81.png?width=2453&format=png&auto=webp&s=02d8d748dcac3e27ca48ef85b81c950ea4dca436) + +[Little weaker signal but only a couple points off](https://preview.redd.it/vx9vbk8qhei81.png?width=2448&format=png&auto=webp&s=d2c63cfa67375b59a9c91046418cc9b353428b3f) + +CV\_VWAP + +https://preview.redd.it/o82uu73ghei81.png?width=2455&format=png&auto=webp&s=92fd5a67b7e4c5a348c2a5e93ce918c9c9a34c91 + +**Disclaimer** + +*\* Although my profession is day trading, I in no way endorse day-trading of GME not only does it present significant risk, it can delay the squeeze. If you are one of the people that use this information to day trade this stock, I hope you sell at resistance then it turns around and gaps up to $500.* 😁 + +*\*Options present a great deal of risk to the experienced and inexperienced investors alike, please understand the risk and mechanics of options before considering them as a way to leverage your position.* + +\**This is not Financial advice. The ideas and opinions expressed here are for educational and entertainment purposes only.* + +*\* No position is worth your life and debt can always be repaid. Please if you need help reach out this community is here for you. Also the NSPL Phone: 800-273-8255 Hours: Available 24 hours. Languages: English, Spanish.* +Live in NYC. Business is a single-member LLC Internet business with no employees. Net profit annually is $400k. I have not elected to do the S-corp election "pay yourself $100k in salary / $300k in dividends to avoid self employment tax" thing that everyone says to do. + +Everything I read online says this is "worth it", starting at $50k in net profit, but then whenever I run the numbers, it's usually \~$5k in savings, for a mountain of additional paperwork and complexity. + +Am I missing something? Everything I read seems to forget: + +* Going from 0 employees to 1 employee has a cost - setting up a payroll system etc. +* The fact that I'm in New York City likely adds additional weird considerations, taxes, liabilities, insurance etc. +* TCJA QBI deductions are 20% of profit until 2025 - **this is huge!** s corp salary doesn't get this +* SEP IRA contributions are 25% of profit up to $61k + +Am I an idiot, or does every S-Corp vs LLC tax calculator out there seem to miss out on the big picture here of the overall cost of making this switch? + +I have run this by multiple CPAs, and they typically do the same thing - they run this basic calculation, tell me to do the S-corp, but then they forget about QBI and paperwork costs and say "oh". + +Have you done the S-corp election switch? Are you happy you did it, or do you regret it? What is your TOTAL savings, inclusive of software, operational, mental and opportunity costs? + +Please call me out on my BS if I have something wrong here. I'm desperately trying to find the right answer because [every time I read an article like this](https://gusto.com/blog/taxes/s-corp-tax-savings-calculator), I feel like I'm taking crazy pills. +This is not FUD, I've bought ETH in early 2016, I believe in it and I think it's the future. The technology it brings is nothing short of revolutionary and I believe it will stay with us for decades. I believe these are the times of a new world monetary system being built. The Strauss-Howe generational theory fits very well into this thesis. It might not necessarily be Ethereum that powers the next decades of financial development, but I believe that our future will be decentralised, trustless and programmable. +These are exciting times for everyone around here. Many, many of you are new, fortunes have been, and will be made and lost. + +I just want to leave you with one sentiment: Stay within your risk tolerances. Never risk more than you are willing to loose, let alone you can afford to lose. Study the market and its pivot points, pre-set your physical and/or mental stop losses and do not trade more than you can handle. +Many of you haven't experienced a propper downturn in the market yet. I was trading on the day The DAO was hacked, the slippery slope was UNBELIEVEABLE, stock traders like to say that you take the stairs up, but the elevator down, so be ready for that! It might look all peachy now, but I assure you, nothing goes up forever. This is not to say that there will be any kind of a significant crash today, tomorrow, in the next weeks, months or even years - just remember, I don't have a crystal ball and neither do you, nor does anyone else. Regardless, please, for your sanity's sake, please be aware that there is a not unsignificant chance of a fringe event that can occur at any moment which will turn this bull run upside down, and there might not be the liquidity in the market for you to get out at the price you would like. + +Well then, to sum up, I wish the very best luck to you all and I hope that more than a few of you will look beyond simply investing and trading and will also apply yourself to contribute something more to this community by building upon the system in any capacity you can, be it programming, marketing or entrepreneurial ventures. +Hello everyone I wanted to document and hopefully inspire some younger people. I grew up pretty poor. I decided to join the military at 19. My plan was to save as much as possible so I could start my new life. I join the service as an E-1 with $5 in my wallet. 7 years later and i'm an E-4 and I have managed to save/invest a little over $103k. I have always lived on base in a barracks. I'm single and receive no bonus pay nor do I get BAS. I have done what everyone says to do yet very few actually follow, I spend less than I make and I invest the difference. When I get a pay raise I save all of it. I still live as if i'm an E-1 7 years later and iv had many pay raises along the way from either promotion or yearly pay increases due to inflation yet iv never spent more than when I first joined. Some would say this is unreasonable and some friends even make jokes that this cant be sustained long term. But in reality I have no debt and i'm able to have more fun with my income than most because I have minimal bills. It's not always how much you make.... it's usually how much can you save. + +My income is $2,746 before tax +currently I invest 28% of my paycheck (5% matched) into my TSP(401k) split 70% C fund and 30% S fund. +C fund = SP500 index +S Fund = Small cap stocks index + +Each month I invest $500 into a Roth IRA in SWTSX + +My monthly bills are between $750-$1100. +Most of my money is spent on fun or travel due to no car payments or housing costs. Biggest expenses are car insurance and internet. +https://puu.sh/FTRgO/e2479604d5.png + + +My goal is to retire from the military after 20 years of service with an estimated net worth of $600k and a pension of 40% of my base pay for the rest of my life. If I retire as an E-6 that would give me $1,668 a month ($20,025 yearly). I estimate ill live off of $35k-45k annually meaning ill need to make sure my investments can cover the remaining $15k. After assuming the 4% SWR I should be more than fine after 20 years of service. + +I post this not to brag. I wanted to show that people of lower incomes can do this FIRE thing also. Don't be discouraged by these people who make $150k a year because I've never made more than $35k a year. Focus on getting out of debt and when you finally do it just keep investing the difference. +Due to a really hectic couple of work weeks, I have not been able to keep up with the food I prepped for dinners. I now have 2 week old chicken fajita mix, with fully cooked chicken, peppers, onions, and seasoning. It doesn’t smell rancid, but I’m also worried the seasoning might help make the scent if it’s starting to spoil. +Would I be crazy to consider using it anyways, or is it wiser to just cut my losses? +Just a few days ago I was introduced to this man via the movie "Collapse", and have since watched a few of his lectures on Youtube. + +What do you folks make of this guy? He seems like any other conspiracy theorist, only he appears to do an especially good job of straddling the boundary of believability (at least for me, someone who is inherently skeptical). + +His stuff on peak oil has really got me thinking as well. Nobody can deny that there is a finite amount of fossil fuels on Earth, and that modern civilization is extremely dependent on them. Is there any way of knowing whether Earth's recoverable oil reserves are dwindling or not? + +His predictions are pretty catastrophic. Is there anyone out there able to shed some light on this fellow? Reddit users seem to be pretty good at spotting bullshit and absurd claims... is there a major flaw in this man's thinking? + + + +Same as above + +Laws set to force banks to have local ATMs https://thismon.ee/a/851529 + +Think this would help those who are heavily reliant on cash, like the elderly, disabled etc. + +Edit: https://www.thisismoney.co.uk/money/markets/article-8515291/Laws-set-force-banks-local-ATMs.html +**Listen up Retards, I have no idea idea what I'm talking about, but you should stop panic selling and get back in GME, HODL, and DO NOT LOOK at your balance for the next six months.** + +I'm late to GME and bought into the hype. Every day I've been tracking GME and got really close to selling, but before I sold, I decided study u/deepfuckingvalue activity for insights into why GME. I found a comment about that locked me in and want to discuss with you retards. + +The news screams at us that the market is over valued. Time and time again a company has $40bn market cap on a measly $2bn revenue with $500mm profits. Who in their right minds would say a company is worth $40bn when it would take 80 years to see ROI. OVER VALUED TRASH. Even UBER report billions in losses but institutional investors are still riding a wave on overvalued trash, why shouldn't we do the same? + +GME is a good buy compared to loads of other OVER VALUED trash on the market. + +>People talk up the demise of GameStop yet here they are about to generate over $2b in revs in a single quarter at the tail end of a console cycle. - u/deepfuckingvalue + +$2bn in revenue in a quarter is not bad. In 2020, GME had revenues of $6.5bn with $300mm in losses down from $8.3 revenue with $491mm in losses in 2019--their worst year since each year before they were turning a profit. Amid a global pandemic GME manages to hold onto revenue and contain losses, they even came close to a profit in Q420 with only $20mm in losses down from $84mm in Q419--amid a global pandemic with Q420 ending in October and not including holiday sales. + +Look at UBER and SNAP. In 2020, UBER had $14.15bn in revenue AND $8.6 BILLION IN LOSSES yet currently $113bn market cap. OVER VALUED TRASH WITH HUGE LOSSES. Or SNAP. In 2020 it had $2.5bn in revenue, $945mm in losses and currently has $94bn market cap. OVER VALUED TRASH WITH HUGE LOSSES. + +If GME is over valued trash like these smart buys then it must be valued at $100bn, maybe $50bn. But wait, GME market cap rests at a modest $3.4bn. WTF?? So you mean to say GME's revenues are 2x its stock market value while closing in on losses but UBER and SNAP are killer buys with $100bn market cap with no end to their bleeding $$. THE EXPERTS SAY ITS BECAUSE THE SHIFT TO DIGITAL!!! + +>The “shift to digital” thesis is way overblown. - u/deepfuckingvalue + +The financial news screams at us saying digital has killed brick in mortar, blah blah blah, we live inside computers now--see PROOF we are on WSB ALL DAY!! If brick and mortar were dead then why would Amazon purchase Whole Foods? Why do companies like PELOTON have retail stores ALL ACROSS THE COUNTRY? Why did e-commerce sales only represent 11% of all retail sales in the US in 2019? BECAUSE THE SHIFT TO DIGITAL IS WAY OVERBLOW BULLSHIT THEY FEED US. + +GME has losses, sure, but they are containing costs with revenue exceeds their entire stock market value. GME is bringing in loads of $$ and their nearly contained losses are way under leading trash-buy stocks like UBER and SNAP. Brick and mortar is alive even in a pandemic--just wait until after the pandemic. People like to visit shops and get their buy on quickly--that's why AMZ bought Whole Foods and online retail only represents a fraction of brick and mortar retail sales. GME is not going anywhere anytime soon. GME is undervalued compared to the rest of the trash on the overvalued market. That's why I'm holding, will stop looking at the ticker price, and will no longer join in discussion about GME on WSB. + +See you all in the summer of 21 ✋💎🤚 + +This is not financial advice. I have no idea what I'm talking about. I just like the stock. 🚀🚀🚀🚀🚀🚀 + +<a class="embedly-card" href="[https://www.reddit.com/r/GameStop/comments/eoak9y/gme\_reported\_preliminary\_holiday\_sales\_nineweek/fecg4if](https://www.reddit.com/r/GameStop/comments/eoak9y/gme_reported_preliminary_holiday_sales_nineweek/fecg4if)">Card</a> + +<script async src="[//embed.redditmedia.com/widgets/platform.js](//embed.redditmedia.com/widgets/platform.js)" charset="UTF-8"></script> + +GME: [https://www.macrotrends.net/stocks/charts/GME/gamestop/financial-statements](https://www.macrotrends.net/stocks/charts/GME/gamestop/financial-statements) +UBER: [https://www.macrotrends.net/stocks/charts/UBER/uber-technologies/income-statement](https://www.macrotrends.net/stocks/charts/UBER/uber-technologies/income-statement) +SNAP:[https://www.macrotrends.net/stocks/charts/SNAP/snap/income-statement](https://www.macrotrends.net/stocks/charts/SNAP/snap/income-statement) +PTON Showrooms: [https://www.onepeloton.com/showrooms](https://www.onepeloton.com/showrooms) +E-commerce: [https://www.statista.com/statistics/187439/share-of-e-commerce-sales-in-total-us-retail-sales-in-2010/](https://www.statista.com/statistics/187439/share-of-e-commerce-sales-in-total-us-retail-sales-in-2010/) +H&R REIT (HR-UN.TO) has presented us their long awaited spin off plan. However, the new spin off plan was not as I anticipated. As revealed, they will be creating only 1 new enclosed mall retail REIT (Likely PMZ.UN, known as Primaris). PMZ.UN will be almost exclusively of enclosed malls in secondary markets. HR.UN will retain the rest and sell off select assets. + +HR.UN goal is to sell their USA grocery anchored joint venture retail (ECHO), and some offices. Some offices will be retained for redevelopment. It is likely HR.UN will remain as it is today, less the enclosed malls through the Spin Off, less their USA retail joint venture called ECHO through a sale (which was a good grocery anchored asset), and will slowly sell off the office properties as opportunities present themselves, in a manner that will not create excess realized gains to ensure HR.UN can retain as much cash as possible for residential and industrial developments. This will take time. + +&#x200B; + +\------------- + +&#x200B; + +**Primaris REIT** + +This REIT is mostly secondary enclosed malls. Arguably, one of the worst of all REIT asset classes. 94% of the portfolio is enclosed malls primarily in secondary markets, 34% of those assets are in Alberta, 5% Manitoba, and 4% New Brunswick. HOOPP (Healthcare of Ontario Pension Plan) is providing \~ 3.8M Square Feet of enclosed malls, valued at about 26% of assets, and in return will hold about 26% of the new REIT. In my view, this is a way for both HOOPP and HR to dump their enclosed mall portfolio in a bundled up pure play secondary enclosed mall portfolio. This REIT will be of low debt, around 30%. I would view this as a necessity, as banks do not like to offer high LTV ratio against enclosed malls, and HR will likely need to do hefty buybacks to sustain the REIT's discount to NAV. Also, HR is trying to have this REIT obtain an investment grade credit rating. I am not sure if this will be possible, due to the asset class. Not many REITs in Canada have an investment grade credit (HR, REI, AP, SMU, SRU, FCR). As a H&R unit owner myself, I would sell this spin off once the units are received. This is one of the lowest demand portfolios out there for investors and will always trade at a discount IMO. + +This secondary location enclosed mall portfolio I expect will fetch a 20%-30% discount to NAV. Worse than my original estimated 15-20% discount. As I reviewed the portfolio in depth, the more I can see these are mostly sustainable, but lower investment demand secondary properties, with a few higher potential properties bundled in (Dufferin, Orchard Park). + +&#x200B; + +\------------- + +&#x200B; + +**The NEW HR.UN** + +&#x200B; + +HR.UN will be a better REIT than it is today by removing its enclosed mall portfolio, but will retain its diversified structure for at least 5 years. This reduces the immediate upside to the REIT to close the discount to NAV, which is the biggest disappointment to this plan. Long term, however, it is better for investors, as over the next 5 years they will retain as much cash as possible while developing their residential through self funding (by selling their office holdings). As HR.UN will continue to be diversified, ***it will continue to fetch a diversified discount,*** similar to what we are seeing today. One reason management decided to keep industrial with residential, was to maintain their investment grade credit rating. Either industrial or Residential on their own, would be too small for an investment credit rating. + +The end result is 1 REIT (Primaris) in a very low demand secondary enclosed mall portfolio, and a diversified REIT of Office (Slowly sell off over 5 years), USA Retail (which is a joint venture and will be sold off likely soon), Residential, and Industrial. Their residential is the crown jewel. The industrial portfolio is a great asset, but holds a portfolio of around 50% ownership, making it much more difficult to fetch a top premium to NAV when they eventually sell it (over 5 years down the road). + +&#x200B; + +\------------- + +&#x200B; + +**Spin Off Discounts to NAV Estimates** + +&#x200B; + +Retail(Mostly retail, some residential developments) will likely get a 20-25% discount, depending on how aggressive their buyback strategy is to support the price, and HR (Office, Residential, and Industrial) will likely get a smaller 12-20% discount. The discount on HR will narrow as they sell their office, but this is their 5 year plan. I believe HR's IFRS NAV estimates are in line with their true value. HR went through a large IFRS write down in 2020. + +&#x200B; + +A 15% discount to current NAV (22.29 - 15%) = $18.95 + +A 20% discount to current NAV (22.29 - 20%) = $17.83 + +A 25% discount to current NAV (22.29 - 25%) = $16.72 + +&#x200B; + +NAV I do expect to go higher, so adjust your estimate accordingly. The question is, how much will the market discount the Retail and Diversified REITs to NAV?  Note, Enclosed Mall will be about $5.50 of NAV (1/4), while the remaining is around $16.98 (3/4) of current stated NAV. + +&#x200B; + +Primaris' 94% secondary market of enclosed malls has one of the lowest investor demands out there for a REIT, even as a pure play entity. Even as a deep value play, I do expect it to be out of favor, and will need a high distribution yield to entice value investors to hold in their portfolio. That yield will come with a low unit price below NAV. The yield on this REIT is planned at 20 cents, which is around 3.6% yield. This is not enticing. An enclosed mall portfolio around a 6% yield would be more in line with the market. That would mean Primaris would trade at $3.60/unit (If NAV is $5.50), which would imply a 40% discount to NAV. The final result will be interesting to watch, and for everyone's sake, lets hope we don't see a 40% discount to NAV trading price. Would you hold an enclosed mall REIT in secondary markets for less than 6% yield? + +For diversified discount, we can look at HR as it is right now, which is trading at a 25% discount to NAV. Remove some of the discount due to Retail being removed, and lets say a 12-20% discount to NAV. Obviously 12% being the best case scenario, and 20% being the worst. 12% I do not believe will happen overnight but may be reached over the 5 year timeframe. + +&#x200B; + +Average it out around 20% after the spin off between the two, and we are looking at $17.83/unit combined. This is disappointing. The discount to NAV on HR.UN should compress, as they continue to sell off their Office and become more of a pure play REIT. But this will take time, and even after 5 years it will still be, as presented, a Residential/Industrial REIT, not a pure play REIT. + +&#x200B; + +Keep in mind the fact that HR's total distributions after spin off, is only going up to 72 cents. A far cry to pre-pandemic's $1.38/unit. Income investors will be lost, but investors looking for long term capital gains may increase. + +&#x200B; + +A special distribution will be announced likely during the Q3 Earnings as they earlier stated. The unit price should drop the same amount as the special distribution that is declared on ex dividend. When announced, it should support the unit price until ex dividend. + +So yes, there is upside. Upside to $17.50-$19.00 is very likely, depending on forward NAV upward revisions (CAP rate compression coming out of the pandemic) + +&#x200B; + +\------------- + +&#x200B; + +&#x200B; + +**Personal Investment Strategy** + +&#x200B; + +My personal strategy, as I have mentioned many times, is a 30% 12 month return target. I do not believe HR will provide that to me going forward. The risk/reward here is not enticing. A 30% return would imply HR would trade at full NAV in 12 months, which I do not believe is likely. I am moving HR to my more permanent long term income focused holdings (smaller position), as I do like the long term strategy in HR.UN. I will sell Primaris once the units are distributed. Other holdings I would put in this long term holding category would be AP, REI, FCR. Great REITs, but not going to reach my 30% annual return targets. So in turn, I will sell some (but not all) of my HR, and continue my strategy for 30% annual returns. This is currently targeted by purchasing MPCT (\~40% Upside to NAV), AX (\~45% Upside to NAV), and D (\~38% Upside to NAV when Eglinton is approved). I do not believe these 3 will trade at NAV, but for their own individual reasons, I do believe their 12 months returns will be much higher than HR from here. + +&#x200B; + +\------------- + +**Disclosure** + +&#x200B; + +I own HR and have owned HR for a while, will sell HR into strength, will likely hold a small position in HR.UN as a long term holding, and sell the Primaris spin off. I do believe in HR.UN's longer term strategy, but it does not line up with my personal strategy for the majority of my portfolio as outlined above. There is a chance H&R's spin off will not be approved by unit holders. I do not want to get into this discussion, but it is a possibility to be aware of.Do your own research. This is not financial advice. + +&#x200B; + +\------------- + +&#x200B; + +Finally, I have been writing up on H&R for quite a while, providing my personal opinions. Although the summer has been weak for most REITs, I am happy the end result has been a positive return on investment to my readers. Again, always do your own due diligence. I cannot predict the future, but do my best due diligence in effort to obtain the lowest risk and highest return I am capable of on a small basket of individual REITs/Stocks through public information. + +&#x200B; + +\------------- + +&#x200B; + +**Here are some research links for your review:** + +&#x200B; + +[https://www.hr-reit.com/wp-content/uploads/2021/10/Primaris-REIT-Investor-Presentation-FINAL.pdf](https://www.hr-reit.com/wp-content/uploads/2021/10/Primaris-REIT-Investor-Presentation-FINAL.pdf) + +&#x200B; + +[https://www.hr-reit.com/wp-content/uploads/2021/10/HR-Post-Spin-Investor-Design\_Investor-Presentation-Final.pdf](https://www.hr-reit.com/wp-content/uploads/2021/10/HR-Post-Spin-Investor-Design_Investor-Presentation-Final.pdf) + +&#x200B; + +[https://www.hr-reit.com/wp-content/uploads/2021/10/Final-Revised-Strategic-Repositioning-Oct-2721.pdf](https://www.hr-reit.com/wp-content/uploads/2021/10/Final-Revised-Strategic-Repositioning-Oct-2721.pdf) + +&#x200B; + +\------------- + +&#x200B; + +Recent Write Ups on Dream Impact (MPCT-UN.TO) and Artis REIT (AX-UN.TO) + +[https://www.reddit.com/r/CanadianInvestor/comments/qemxso/dream\_impact\_reit\_mpctunto\_by\_retiredceo\_toronto/](https://www.reddit.com/r/CanadianInvestor/comments/qemxso/dream_impact_reit_mpctunto_by_retiredceo_toronto/) + +&#x200B; + +[https://www.reddit.com/r/CanadianInvestor/comments/qa4hbv/artis\_reit\_by\_retiredceo\_a\_sandpiper\_target/](https://www.reddit.com/r/CanadianInvestor/comments/qa4hbv/artis_reit_by_retiredceo_a_sandpiper_target/) +Just looked at my tangerine savings account and winced. 0.2% interest. I want to be able to access my money within 3 to 6 months of notice, and the 0.9% interest on short term GICs barely seems worth bothering with the inconvenience of having it tied down either. +Hi everyone, + +I had sent $12,000 ($12,050 to cover wire transfer fees) to Kraken on December 27th and they've still not credited my account with the funds. I have emailed them around 25 times, and I have not gotten a single reply other than the automated email once you submit a support ticket. I'm quite worried about my funds and it seems like the best way to get some support from them is by making a reddit post. I'd really appreciate if you can upvote this post so someone from their team can reach out to me. I've also PM'd them on reddit but have not gotten a reply from them unfortunately. My support ticket number is: #XXXXXX. Thank you all! + +**UPDATE**: Someone from their team reached out to me and told me that they've received my wire and they'll deposit the funds shortly. Thank you so much for helping me get visibility on this issue. You guys are the best :) +Mount Holland, or better known today as Earl Gray, is managed by Covalent Lithium, a 50/50 Joint Venture between Wesfarmers and SQM (Sociedad Quimica y Minera de Chile S.A). Kidman Resources bought the tenements for the Mount Holland Gold Mine in late 2015 which was unknowingly hiding the current 189Mt lithium deposit beneath the gold. Through local and international interest for the lithium rights, legal issues over tenement ownership with MZN, forming a 50/50 partnership with SQM and **over 3 years of drilling**, the end result was a takeover by WesFarmers in May 2019 to the tune of $1.90 per share, a 47% premium to the closing share price of $1.29 on Wednesday May 1st 2019, representing a value of $776M AUD. + +The question is, who would be able to recognise the value and get a 300-400% return? + +# Australian Lithium Deposits + +Mount Holland sits at #4 of our home-grown Big 5. With respect to lithium deposits, jurisdiction, mineralogy, tonnes and Li2O grade are the critical components for the successful development of a deposit. All of the most viable deposits are in 'safe' jurisdictions like Australia, Canada, United States (sorry AVZ holders); they are spodumene dominant (lepidolite is trash), and are typically large tonnages developed over sills (the pegmatites are somewhat close to parallel to surface, and not steeply dipping, or economically favourable to open pit). + +So when reviewing who can be the next big deposit, these are all things we need to consider but are not necessarily essential. + +&#x200B; + +&#x200B; + +|*JORC DEPOSITS*|JURISDICTION|MINERALOGY|TONNES (t)|Li2O Grade|Contained Lithia (t)| +|:-|:-|:-|:-|:-|:-| +|Greenbushes (IGO)|AUS|Spodumene|360Mt|1.50%|5,400,000| +|Pilgangoora (PLS)|AUS|Spodumene|309Mt|1.40%|4,3260,00| +|Wodgina (MIN)|AUS|Spodumene|259Mt|1.17%|3,030,300| +|Mount Holland (WES)|AUS|Spodumene|189Mt|1.50%|2,835,000| +|Kathleen Valley (LTR)|AUS|Spodumene|156Mt|1.40%|2,184,000| + +&#x200B; + +# Significant Events Timeline + +From beginning to takeover, the Mount Holland lithium project took **1230 days**. + +&#x200B; + +[Timeline with Major Catalysts](https://preview.redd.it/h7lwohv6fzi91.png?width=1065&format=png&auto=webp&s=8165744146c1f7ecd945bb007545b291033de791) + +December 18th 2015: KDR buys the 1.2MOz Mt Holland Gold Deposit + +April 13th 2016: KDR is approached by local / international companies for lithium rights at Mt Holland, which prompts KDR to review historical core + +June 21st 2016: 6.3km of pegmatite strike identified by KDR + +August 10th 2016: Drilling begins to look for extensions of the deposit + +August 25th 2016: First two drillholes intercept \~94m thick pegmatites + +September 21st 2016: Drilling results double the known strike length to 1100m x 750m x 80m + +October 3rd 2016: More spodumene drill results + +October 11th 2016: More spodumene drill results + +October 28th 2016: More spodumene drill results + +November 8th 2016: More spodumene drill results + +December 5th 2016: Drilling extends strike to 1400m, maiden resource estimate of 128Mt @ 1.44% with 1400m x 900m x 300m + +January 23rd 2017: Drilling extends pegmatites 450m to the north + +February 28th 2017: WSA sells 2 tenements to KDR for $6M in equity + +March 20th 2017: WSA sells a further 19 tenements for 5% equity stake in KDR + +March 28th 2017: Metallurgical testwork results of 62% recovery to produce 6.5% Li2O + +July 10th 2017: Judge rules in favour of KDR for lithium tenement rights over MZN + +July 25th 2017: SQM invests $110M USD for 50% equity stake in Mt Holland + +September 12th 2017: KDR and SQM execute Joint Venture + +October 3rd 2017: Scoping study with 25 year LoM, NPV10 of $1148M AUD and 57% IRR + +November 29th 2017: More spodumene drill results + +December 19th 2017: More spodumene drill results + +December 21st 2017: KDR and SQM complete Mt Holland Joint Venture + +December 18th 2018: PFS and Maiden Ore Reserve of 94.2Mt @ 1.5% Li2O + +May 2nd 2019: WesFarmers takeover + +# Significant Intercepts + +This is a some of the many significant drill results, along strike in all directions, that KDR announced from August 2016 through to December 2017 which were utilised to prove up the maiden Mineral Resource Estimate (MRE) at 94.2Mt @ 1.5% Li2O (WES/SQM would prove up another almost 100Mt). + +It is evident these large pegmatite systems which are over 100Mt require numerous **true width** intercepts of 20-30m+ and more. + +* 52m @ 1.53% Li2O from 206m to end of hole +* 45m @ 1.81% Li2O from 231m to end of hole +* 39m @ 1.93% Li2O from 189m to end of hole +* 11m @ 1.04% Li2O from 126m downhole and 27m @ 1.73% Li2O from 153m to end of hole +* 34m @ 1.35% Li2O from 176m downhole and 29m @ 1.31% Li2O% from 218m downhole +* 93m @ 1.52% Li2O +* 7m @ 1.83% Li2O from 75m and 68m @ 1.82% Li2O from 111m +* 14m @ 1.55% Li2O from 93m, 15m @ 1.53% Li2O from 114m, 23m @ 1.67% Li2O from 142m, 11m @ 1.67% Li2O from 172m, 14m @ 1.89% Li2O from 185m and 3m @ 1.43% Li2O from 205m +* 3m @ 1.86% Li2O from 117, 18m 1.63% Li2O from 134m and 43m @ 1.55% Li2O from 167m +* 13m @ 1.28% Li2O from 69.25m and 71m @ 1.58% Li2O from 120m +* 68m @ 1.00% Li2O from 121m +* 85.7m @ 1.75% Li2O from 93.9 +* 8m @ 1.63% Li2O from 62m, 5m @ 1.62% Li2O from 95m, 75m @ 1.63% Li2O from 126m +* 8m @ 1.78% Li2O from 111m, 8m @ 1.23% Li2O from 125m and 42m @ 1.31% Li2O from 143m +* 14m @ 1.87% Li2O from 119m and 45m @ 1.48% Li2O from 143m +* 7m @ 1.63% Li2O from 72m, 3m @ 1.62% Li2O from 86m and 56m @ 1.61% Li2O from 107m +* 63m @ 1.64% Li20 from 81m incl. 8m @ 2.19% Li20 from 124m +* 35m @ 1.74% Li20 from 46m incl. 3m @ 2.17% Li20 from 49m +* 35m @ 1.42% Li20 from 28m +* 38m @ 1.61% Li20 from 31m incl. 6m @ 2.18% Li20 from 37m +* 46m @ 1.54% Li20 from 50m incl. 3m @ 2.15% from 88m +* 47m @ 1.46% Li20 from 108m and 27m @ 1.51% Li20 from 160m +* 81m @ 1.63% Li2O from 105m +* 79m @ 1.68% Li2O from 117m +* 75m @ 1.80% Li2O from 99m +* 78m @ 1.84% Li2O from 116.34m +* 72m @ 1.80% Li2O from 137m +* 75m @ 1.67% Li2O from 118m +* 42.7m @ 1.68% Li2O from 61.4m and 24m @ 1.94% Li2O from 115m +* 46m @ 1.73% Li2O from 103m +* 43m @ 1.94% Li2O from 150m +* 49m @ 1.93% Li2O from 153m +* 40m @ 2.00% Li2O from 159m + +# The Timeline (But This Time Its Visual Sections) + +This is a chronological order of visual cross-sections put out by KDR from July 2016 through til December 2017. This is a visual representation of how Kidman were reporting the progression of drilling results. Hopefully even those without any significant experience in reviewing mining publications, will be able to realise the scale of the pegmatite system that KDR had uncovered. + +&#x200B; + +[July 2016: Historic drillholes for Gold ended in unknown width spodumene pegmatites](https://preview.redd.it/t3d272o32zi91.png?width=624&format=png&auto=webp&s=e9453ab0db5a30d68999a2536556229181872c1d) + +&#x200B; + +[6th September 2016: Extensional drilling for lithium found the pegmatites to be \~100m thick](https://preview.redd.it/cxuz9ye52zi91.png?width=624&format=png&auto=webp&s=b0c486abf8906fc37e0d00c8cd20f6ebd704cad0) + +&#x200B; + +[21st September 2016: Drilling along strike to identify a flat lying pegmatite sill](https://preview.redd.it/our9soy62zi91.png?width=624&format=png&auto=webp&s=2b783db2d34c64ab6a63aacc5352f1a21e1f3218) + +&#x200B; + +&#x200B; + +[October 11th 2016: Further drilling along strike](https://preview.redd.it/20q0ync82zi91.png?width=624&format=png&auto=webp&s=506e5053f7401cd4e21cbd36a02551513eaf0efc) + +&#x200B; + +[5th December 2016: 1400m strike and Block model for maiden Mineral Resource Estimate of 128Mt @ 1.44&#37; Li2O](https://preview.redd.it/gxkmmsbb2zi91.png?width=629&format=png&auto=webp&s=515ff5b2d18f633cc8fb622cfb8a3f66a04b27ed) + +&#x200B; + +[5th December 2016: Early conceptualization for the open pit - lithium mineralisation to the north was unknown, but open](https://preview.redd.it/vhkiztfc2zi91.png?width=586&format=png&auto=webp&s=55767a831bfe7f21fc9795e4105feb7acedfbe53) + +&#x200B; + +[23rd January 2017: Drilling the north confirmed the pegmatites continued for 1500m](https://preview.redd.it/5tq70skd2zi91.png?width=624&format=png&auto=webp&s=8ba9fa21128566a974fac0451e9da2935c18219c) + +&#x200B; + +[25th July 2017: Regional scale of the pegmatite system](https://preview.redd.it/cd0ws2ee2zi91.png?width=624&format=png&auto=webp&s=194c206fe7602f98825516664b70e02b6b2a2897) + +&#x200B; + +[25th July 2017: Modelled scale of the pegmatite system](https://preview.redd.it/tsctn4eg2zi91.png?width=624&format=png&auto=webp&s=05057f31c16457eef7f9d8e0f23a58ef47d60387) + +2nd May 2019: WES acquires KDR for $776m + +# Shaping Up The Lithium Developers + +The below companies are those which have a definable hardrock deposit to some degree. It doesn't specify ownership percentages, but in terms of ASX Lithium exposure, these are the companies which should be monitored for progress. We can disregard anything that isn't spodumene, so goodbye LPD, ZNC, EMH (technically zinnwaldite) and PAM. EUR also gets binned for being in Europe. A40 goes into the bin for being a delisted pile of trash. I think it is reasonable to also remove AVZ, LTR and CXO as those likely won't get much bigger than what is currently priced in. + +This leaves the projects managed by SYA, PLL, LLL, GL1, LRS, RDT, ESS, WR1 and A11. + +Below are some published cross-sections from many of the above companies. + +|Code|Company|Price|Market Cap|Stage|Jurisdiction|Project (Green=JORC)|Mineralogy| +|:-|:-|:-|:-|:-|:-|:-|:-| +|ASX:AVZ|Avz Minerals Ltd|$0.78|$2,752,409,000|Developer|AFRICA|Manono|Spodumene| +|ASX:LTR|Liontown Resources Limited|$1.68|$3,688,110,604|Developer|AUS|Kathleen Valley / Buldania|Spodumene| +|ASX:CXO|Core Lithium Ltd|$1.40|$2,426,765,558|Developer|AUS|Finniss|Spodumene| +|ASX:SYA|Sayona Mining Ltd|$0.27|$2,240,385,299|Developer|CANADA|NAL / Moblan / Authier / Tansim / Lac Albert|Spodumene| +|ASX:PLL|Piedmont Lithium Inc|$0.90|$1,616,624,057|Developer|US|Carolina / Authier + NAL / Antlantic|Spodumene| +|ASX:LLL|Leo Lithium Ltd|$0.51|$493,812,982|Developer|AFRICA|Goulimana|Spodumene| +|ASX:GL1|Global Lithium Resources Ltd|$1.91|$393,107,510|Developer|AUS|Archer / Manna|Spodumene| +|ASX:LRS|Latin Resources Ltd|$0.12|$223,770,914|Advanced Explorer|S.AMERICA|Salinas / Catamarca|Spodumene| +|ASX:LPD|Lepidico Ltd|$0.03|$194,998,778|Developer|AFRICA|Karibib|Lepidolite| +|ASX:RDT|Red Dirt Metals Ltd|$0.51|$153,704,715|Advanced Explorer|AUS|Mt Ida|Spodumene| +|ASX:GT1|Green Technology Metals Ltd|$0.70|$141,050,000|Developer|CANADA|Seymour, Root, Wisa|Spodumene| +|ASX:EUR|European Lithium Ltd|$0.09|$120,420,544|Developer|EUROPE|Wolfsberg|Spodumene| +|ASX:ESS|Essential Metals Ltd|$0.46|$112,304,422|Developer|AUS|Pioneer Dome|Spodumene| +|ASX:ZNC|Zenith Minerals Ltd|$0.30|$103,428,700|Advanced Explorer|AUS|Waratah Well / Split Rocks|(Eucryptite / Zinnwaldite / Amblygonite)| +|ASX:EMH|European Metals Holdings Ltd CHESS|$0.79|$90,336,253|Developer|EUROPE|Cinovec|Lepidolite| +|ASX:PAM|Pan Asia Metals Ltd|$0.48|$35,112,110|Developer|THAILAND|Reung Kiet|Lepidolite| +|ASX:WR1|Winsome Resources Ltd|$0.25|$33,778,500|Advanced Explorer|CANADA|Cancet / Adina / Sirmac-Clappier|Spodumene| + +AVZ + +[AVZ: Manono](https://preview.redd.it/7923zogwgyi91.png?width=869&format=png&auto=webp&s=548081cce4844bbc7a9354223289fb744fdb2aaa) + +A11 + +[A11: Ewoyaa](https://preview.redd.it/mqe28eq3hyi91.png?width=910&format=png&auto=webp&s=c10613dffce978a83102410ea41053bb146c5810) + +CXO + +[CXO: BP33 ](https://preview.redd.it/80nf6gq7hyi91.png?width=778&format=png&auto=webp&s=44caf54a6c008a6bc9b230d9325c2580860c0bd9) + +ESS + +[ESS: Cade](https://preview.redd.it/tjbjcglagyi91.png?width=472&format=png&auto=webp&s=b9ab3a38f035b446a23f5d4bc813b8095549239c) + +GL1 + +&#x200B; + +[GL1: Manner and Archer](https://preview.redd.it/vur0375ioyi91.png?width=892&format=png&auto=webp&s=5f6a8742d4d46a56e4281d1a21bc16cbc472579d) + +GT1 + +[GT1: Seymour](https://preview.redd.it/l0okcaygnyi91.png?width=876&format=png&auto=webp&s=6396e2c5a2d451ec44e3fbb675a377a938a7b065) + +LRS + +[LRS: Colina](https://preview.redd.it/r7zrmx1chyi91.png?width=743&format=png&auto=webp&s=7ccdf43a5ed98dba8fa3228b774babfa1cb1cd70) + +LTR + +[LTR: Kathleen Valley and Buldania](https://preview.redd.it/ov18htp1iyi91.png?width=1128&format=png&auto=webp&s=4e5d2b152a287259b155f166f876959f397344c5) + +SYA + +&#x200B; + +[SYA: Moblan South](https://preview.redd.it/ng0tnsn7iyi91.png?width=757&format=png&auto=webp&s=3feb0a8dcc37e412e455869f43950c67297244cb) + +WR1 + +&#x200B; + +[WR1: Cancet](https://preview.redd.it/kty8jfxeiyi91.png?width=466&format=png&auto=webp&s=238b6c6a34ec8a2c4eabaa78dc6e0966f5897901) + +# TL;DR + +"Yeah yeah hit us with the tl;dr you cunt", "I'm not reading that", "I can't read", "I only looked at the pictures", "lithium go brrrrrrrrrrrrrrr" etc. + +That's it. There are no recommendations, no financial advice (sorry ASIC), no DYORs, no GLTAHs. It is just a review of how The Mt Holland site came to be in the hands of WesFarmers, followed by a look at how some of our current ASX listed developers are progressing. Hopefully looking into the success of previous companies in the sector can enable more people to learn how to recognise the potential significance of mineral assets; as they say, history doesn't repeat itself but it often rhymes. + +To summarise, it's a matter of looking for companies who have the potential to find Tier 1 deposits, and the most logical places to begin are those finding extensions to currently known deposits. It will be those companies who are able to find 20-30m+ **true width** intercepts of spodumene pegmatites close to the surface, in good jurisdictions, with good management and then you need to be willing to hold. The above companies are just some of the many which could be of interest in a lithium developer watchlist. + +Will edit formatting tomorrow if anything breaks. +*I'm doing a series of posts about the shaky foundations of major Australian coal power stations, the renewals behemoth PowAR plotting to replace them and the impact on ASX listed electricity companies.* + +1. [*Yallourn Power Station \[Victoria - 1480 MW\]*](https://www.reddit.com/r/ASX_Bets/comments/o8mdc5/an_overanalysis_of_yallourn_power_station/?utm_source=share&utm_medium=web2x&context=3) *<- YOU ARE HERE* +2. [*Vales Point B Power Station \[New South Wales - 1320 MW\]*](https://www.reddit.com/r/ASX_Bets/comments/o9wehg/an_overanalysis_of_vales_point_b_power_station/?utm_source=share&utm_medium=web2x&context=3) +3. [*Callide C Power Station \[Queensland - 840 MW\]*](https://www.reddit.com/r/ASX_Bets/comments/obc3ll/an_overanalysis_of_callide_c_power_station/?utm_source=share&utm_medium=web2x&context=3) +4. *Powering Australian Renewables Fund (PowAR)* + +# Flooded Mine, Idle Plant + +Yallourn Power Station is a brown coal power station in Victoria that's been in the news because the coal mine that feeds the power plant is [at risk of flooding](https://www.abc.net.au/news/2021-06-18/scramble-to-solve-yallourn-mine-flooding-threat/100226204). + +Based on information available from [AEMO](https://aemo.com.au/), Yallourn needs a electricity spot price of about ***$56 per MWh*** to make the repairs to the mine worthwhile (since the plant is only scheduled to operate till [2028](https://www.abc.net.au/news/2021-03-10/yallourn-power-station-early-closure/13233274)). In June 2021, the [ASX Energy Futures](https://www.asxenergy.com.au/futures_au) market indicates that average electricity spot price in Victoria till 2024 will be about ***$46 per MWh***; it's been below $46 per MWh for most of 2021 and 2020. + +# Ok... so what? + +*Electricity generation is a zero sum game and the coal power plants in Australia are basically in a fight to the death with each other. When a power plant closes it means all the remaining power plants make more money since the supply of electricity is reduced.* + +So, the total or partial loss of Yallourn Power Station will cause electricity prices to rise on the National Electricity Market (NEM), particularly for Victoria and South Australia. + +Most generators on the NEM would be winners but [AGL](https://www2.asx.com.au/markets/company/agl) would be the biggest winner. This is because AGL owns the nearby [Loy Yang A Power Station](https://en.wikipedia.org/wiki/Loy_Yang_Power_Station) as well as other big, high-margin coal power stations in NSW. When Hazelwood Power Station shut down 2017, AGL had some it's most profitable years. + +AGL also owns the Loy Yang coal mine which could be used to keep Yallourn going at partial capacity and protect jobs. + +# How can you be so sure Yallourn is in trouble? + +I can't be sure - this is just a bunch of reasonable assumptions + +The main reason why Yallourn won't make it to 2028 is that the capital $$ required to repair the mine wall will not survive a Net Present Value (NPV) analysis because: + +**1. Actual generation at Yallourn Power Station has been declining year after year since 2015-16.** + +The brown coal power stations in the Latrobe valley have high fixed costs and low fuel costs so it's really important that these plants generate 80%+ of their max capacity. Yallourn will only manage to generate 70% of it's max capacity in 2020-21 whereas Loy Yang A will manage to get up to 85%. Yallourn hasn't achieved 80%+ since 2017. + +https://preview.redd.it/eywq2mguap771.png?width=708&format=png&auto=webp&s=e9e19f2a6b26d498e62cbd17ab76b910c4fd15ce + +**2. Closing Yallourn increases earnings from other power stations owned by the same company.** + +Yallourn power station is owned and operated by [EnergyAustralia](https://en.wikipedia.org/wiki/EnergyAustralia), which also owns [Mount Piper Power Station](https://en.wikipedia.org/wiki/Mount_Piper_Power_Station) as well as some smaller gas peaking plants in NSW and SA. These are much newer plants and has enjoyed high earnings due to higher spot prices caused by Yallourn outage. Basically, if you are EnergyAustralia, you have to make sure repairing Yallourn will also cover the money lost at your other power stations. + +https://preview.redd.it/egwea1cc8p771.png?width=929&format=png&auto=webp&s=1048dc5e642e5ef31a93dcd94f4be6396acb8b69 + +**3. Financing will be difficult and expensive due to low electricity prices and high emissions.** + +Coal projects all around Australia have [not been able to get financing](https://www.smh.com.au/business/companies/coal-plant-owner-alinta-calls-for-canberra-to-step-in-as-banks-retreat-20210610-p57zxq.html) for plant repairs and upgrades. This means that the 'discounting' (cost of taking the risk) applied to the mine repair will be higher than other projects in the power industry. + +https://preview.redd.it/hq9e4uxt6p771.png?width=1266&format=png&auto=webp&s=4fc0ec63a65d86ebdea0cccc118bf1ddad62fce1 + +# End Game + +So where to from here for Yallourn? + +The mine wall will be stabilized but more spending will be needed to fix the issue permanently, the company will not be willing to spend the money for the reasons above. + +EnergyAustralia will probably reduce the capacity of Yallourn Power Station to 740MW from 1480MW. This will allow them to keep it running for another year or 2 by mining unthreatened parts of the Yallourn mine and maybe even buy some coal from AGL's Loy Yang mine 30 mins away. + +# Ok, so what do I do to profit? + +I'm still setting the scene and trying to give examples of the type of risks that exists in big engineering operations, so stay with me! + +I'll do posts about "New" AGL, AXL, ORG, AST and SKI soon. + +# Why did you do this... ? + +*Mostly because I spent a lot of time detangling the power industry and wanted to document it somewhere! I decided to post here instead of LinkedIn because it would probably be more fun.* + +*I also wrote this up because electricity stocks on the ASX are complex, with a lot of history and moving parts. To make matters worse, I think analysts do a terrible job of covering any heavy engineering business. So hopefully these write up will help you make sense of the electricity industry if you are looking to invest.* +I ask because i just tried setting up a vanguard account and saw the minimum was a thousand dollars. I have a good safety net in my bank and very little debt, but I still don't feel comfortable throwing a grand into an account. I'm not trying to get rich, but I'd at least like to make some "passive" income comparable to interest i might accrue with money into a savings account. + +Edit: forgot about betterment as well. +This is a story all about how some kids flipped our household upside down. And I like to take a minute, so just sit right back and tell you how we all became the kings of our lives. + + +Our Story: + +Started on the normal train of graduating college, joining the workforce and not realizing much about money. Stumbled through this for a few years and met a cute girl. Everything is going great until the day I walked past a coworker. I still remember the day (June 24th) when I looked over said coworkers shoulder and saw she had a retirement page open. We started talking retirement savings, so I asked what she was contributing (I had been doing 10%, which I had been told by my parents is the perfect). Well turns out she was maxing out her retirement every year and we were making the same paycheck. Well if she can do it so can I. And that started the rabbit hole into personal finance, MMM, Dough Rollers, R/personalfinance, and all things money for about 3 years. + +It took a solid year to finally understand how it all worked and what I had been missing. Started maxing out my 401k and told the then long term girlfriend to max hers as well. Fast forward about 4 years and we are now married (after spending too much on a ring and a wedding but cash flowing it all) and now its time to max out IRA's as well. Sitting fat dumb and happy living the newlywed DINK life. + +Continue on this path and everything is great until kids decided to come early. And by kids I mean twins. The amount of stress I went through trying to excel spreadsheet our lives out of this new "expense" was immense. Thankfully at this point we had established savings and health insurance to cover the birth. Oh yeah, and the twins were looking healthy as well. + +Fast forward and thankfully we have 2 wonderful babies. (Side note, anyone who has yet to have the joy of children, all you care about at that point is their health, and thankfully for us, besides an extended NICU stay, ours had no extenuating circumstances.) Everything is fine though because we are renting a cheap house, everyone is healthy, and our our retirement savings are still being maxed out. + +And then the lease is up, which wasn't going to work anyway because in a condo with the 3rd floor parents room with the next bedroom on the ground floor is not conducive to having newborns. Maybe it is time to buy? Well the market is hot where we want to live so its another rental for a year. After many Grandparents visits in a 2 bedroom house which means they sleep on our bed as we take the couch time is running out. Rent is still cheap though so we can continue to max retirement savings and now save what we had in the past for a wedding towards a down payment. + +Sleeping on a couch too many nights in a row will make that new house seem more and more necessary, and thankfully one popped up around the corner that checked all the boxes. Only problem was it was about 100,000 more than I would have ever wanted to spend. Many late nights and wine talks and spreadsheets were had and it was decided that we can afford the house . We jump through the hurdles of a first time home purchase, while balancing beginning childcare and after some remodels are back to stable life of everything being maxed out, starting some college fund savings, and no longer paying rent. Instead we are paying down a mortgage that matched our entire life savings at that point. + +We have finally made it to the boring middle, with schools we like, the neighborhood we want and stable jobs. That is until 2 years later said jobs said it is time to move. Bring on the U-haul trucks, explaining to the kids why we have to leave and the stress of finding a new house in a market that is hotter then the one we are leaving. It was at least decided to rent out the "forever" house because we may come back for jobs and if we do, this is where we would want to live. + +Move happens, things are broken, living with parents while searching for a new house gets long and after too many offers, we finally find a home in the neighborhood we love and close again. Deplete all savings to close and do small remodels on the new house just so the twins bedroom is not covered in blue and orange walls. But there is a problem. The neighborhood is great and above our normal lifestyle which means the public schools are not so great because everyone goes to the local private schools. + +Time for Mr. Spreadsheet to come out again. Problem is this time there is no way to make it balance. Something has to give. And this is where our financial freedom finally pays off. All of those years of savings, the living with roomates and putting raises into retirement instead of saving, the weekend vacations vice a cruise have built us enough of a cushion to finally take the foot off of the gas. How do we pay for this private school? We cut money from the one anchor I have pushed for our whole lives, and stop maxing out our retirement savings. It seems like an obvious choice to most, but the lost sleep from stepping away from that life is hard to explain to those not on the FI path. + +So what made me sleep well, the spreadsheets again. Seeing how we had built such a nest egg in retirements, in that the flywheel had already been brought up to speed and contributions were no longer driving its momentum brought some much needed rest to my eyes. + +So we adjusted and slowed down retirement savings. And started paying for after school dance classes and soccer teams and all the things you want your kids to enjoy knowing that we might have to work a few more years, but that our early contributions made all the difference in our ability to splurge now and still sleep soundly at night. + +And now we have caught up to today, with a family of four, with a nest egg approaching 7 digits sleeping soundly at night. + +What I want to get someone from this is the following: + +1. The early work is what matters. If you can save in your 20's the rest of life is put on easy mode. + +2. Life happens. It is beautiful but brings challenges you couldn't have planned for, even in a spreadsheet. + +3. Don't live on the extremes. Pick up the Philosophy of Money and remember to keep your life from the extremes because that is what causes plans to fail. You want the plan that will last for 20-30 years, not the one on rice and beans forever. + +Well this has turned into a Memoir. + +TLDR/ Was dumb. Found PF. Established good habits. Life happened. Turned out alright because of early decisions. Thanks for reading. +Background: + +* 32F, married, no kids, living in MCOL state. +* $4.1M in cash. +* $0.3M in retirement accounts and 529 plans. +* $0.25M in stock exposure across brokerages. +* $0.4M more cash after tax and monthly expenses by end of year from our cash comp. +* A few investments in Series B-E startups that might never become liquid. +* No home. +* Unused $2.46M liquidity access line with SOFR+2.4% rate from a PWM group we use. +* Possible $20M secured credit line. Main banking relationship has visibility into our company's assets and offered it if we collateralized a portion of our equity. + +We have an imbalanced amount of cash mainly because we sold a few hundred bps of the company we started together in a founder secondary two years ago. My husband and I left it untouched as we decided it would be our "stop loss", emergency fund, and something we can reach into quickly if we ever found a desired home or interesting investments. Market conditions also deterred us from heavily averaging in a position (turned out to be a good thing). + +We don't own a home because we just never had the reason or lifestyle creep that impelled us to buy one. Our work kept us living in hotels for about 150+ days per year, and we both grew up in very low income families. Instead, we paid off our parents' mortgages and he moved into my parents' home with me. + +The main driving force for our house search is my age. We want 3 kids, and the window of opportune time is shrinking. And for arbitrary reasons, we do eventually want a $1,000+ psf primary residence of 3000-8000 sf before retirement. + +We've narrowed down to 2 options: + +* (A) Buy a $1.5M land lot, and set aside $3M for construction of a "forever home". Then we'll also probably have the flexibility to pour in up to $8M towards construction if we wanted to, a year from now. +* (B) Buy starter homes in 3 cities for $1.5M\~ each. A SFH in current city and condos in the other two places we frequent (Omotesando and Zurich). + +I'm aware that I'm in a position to afford (A) with leverage, but I'm very risk-averse because of how concentrated our net worth is in a single company. + +My rational mind tells me to go with (B). Aside from the potentially long wait which could sink our plans to start a family, it's fairly obvious that (A) is a lifestyle excess that will eat a lot of our bandwidth, bring about unnecessary stress with zoning, permits, reviews etc., and hamper further wealth generation. + +But (A) is not without its merits. I'd give it 0.65 delta that we will have another $4M of cash within 2 years. If we go with this approach, we pre-empt and save much time having to sell the starter SFH or start building later. The architect we've chosen also has ideas for a multi-pavilion layout for the house that will let us opt to build $3M-8M piecewise, so we can still fall back on a cheaper build. + +P.S.: Sorry for the long read! + +**Questions:** + +1. Would you skip the starter homes in my shoes? +2. For those of you who *built* a forever home, how long did it take and was it worth the wait? +3. Did you have unforeseen problems raising kids or going about your social life with obviously one of the nicest houses in the city? (Our architect has a similar pedigree to Olson Kundig/Lake Flato.) +As the title states, we should be looking at around 120-140k in real estate proceeds depending on how the closing shakes out in the next little bit. + +We will need this money and use additional money saved to put down on the closing of our home construction. I’m wondering what people would do to grow this for roughly one year. + +I have researched some HYSA’s but would like to bet more without much risk or penalty for withdraw at the year mark. Thanks in advance!! +I have like 5 or 6 credit cards, none of which have any annual fees or anything. I never use them, they just sit there with open credit lines. + +Is there any downside to this? +Pretty new to investing so still confused about some things. + +For example if I buy 5 TD stock for $73.66, then again I purchase 6 more for $75.29. My avg price becomes $74.47. Will my gains be on my average price or the prices I have bought the stocks at? + +I know this may be a noob question but I just want to confirm. I use wealthsimple btw to buy my stocks. + +Thanks! +I'm a programmer and uni student who recently sold a side project I've been working on for a little over 2mil USD. I have no debts (free uni) and spend maybe $2000 a month on rent and food. I've been working very hard so don't have expenses outside of that, as I haven't had any days off in about two years (uni plus the project). + +I would really like to take time off to rest. I'm wondering what the best way I should store the funds are in a way which provides me 80-90k spending money a year while also still accruing. Ideally I'd like to live a very luxurious life and I plan on coming back to work once I'm ready and, but honestly I don't know anything about investing or finance other than to keep things low risk. Any and all advice would be appreciated. It would be nice to be significantly wealthy by retirement age as I also have some big plans for giving away money to certain causes important to me. + +Update: I am very happy to go back to work and work hard after a little bit of time off. I have been offered jobs ranging from $200-$400k (software engineering & cto roles) because of the success of the project, which I would have to relocate for. Honestly, I just want to be at the point at 28-30 where I can live a really amazing life (fly business class every week to a new holiday destination, take whatever girl I like wherever, etc). if you guys could provide advice that would be really helpful. thanks! + +Yes, BTC is a hedge against inflation. But please stop rooting for fiat currencies to collapse. + +The collapse of fiat would bring immeasurable pain to the world. Most of your friends and family would be left destitute. The economy would collapse so severely that, even with your relative wealth increasing, the quality of your life would decrease. + +The truth is that 1 million dollar btc is not incompatible with a strong centralized economy. Bitcoin has plenty of utility even if the worlds of fiat, stocks, and bonds proceed apace. It can still have massive growth potential without you wishing destruction upon the world as we know it. + +I understand being skeptical of the goodwill of institutions. I understand being fearful of hyperinflation. But to chuckle with glee and hope for the world to burn is not a productive attitude. Simply be glad to be involved with a promising new asset class, and accept, WITH HUMILITY, that if bitcoin maximalists are right, it could create a tremendous amount of suffering. + +Get rich, fine. Just don't fucking dance. + +[https://www.youtube.com/watch?v=chWCcec\_gzg](https://www.youtube.com/watch?v=chWCcec_gzg) +Following this rabbit hole: + +https://preview.redd.it/7ffme2alfvu61.png?width=960&format=png&auto=webp&s=052146b72b18402884f9ae5c7f39c2a8e37f6101 + +I set out to find the shares. + +**Institutional:** + +Piecing information from the following websites and attempting to show accurate data according to latest filing dates in each by googling the "company name + **13F gme**"**:** + +[https://news.gamestop.com/stock-information/institutional-ownership](https://news.gamestop.com/stock-information/institutional-ownership) + +and + +[https://money.cnn.com/quote/shareholders/shareholders.html?symb=GME&subView=institutional](https://money.cnn.com/quote/shareholders/shareholders.html?symb=GME&subView=institutional) + +and + +[https://www.marketbeat.com/stocks/NYSE/GME/institutional-ownership/](https://www.marketbeat.com/stocks/NYSE/GME/institutional-ownership/) + +&#x200B; + +Top 30 HODLers including Mr Cohen so top 31 + +Fidelity: **9,276,087** + +Mr Cohen: **9,001,000** + +Blackrock: **8,489,953** + +Vanguard: **5,053,431** + +Senvest: **5,050,915** + +Maverick Capital: **4,658,607** + +Dimensional Fund Advisors: **3,934,919** + +Morgan Stanley: **3,168,279** + +D.E Shaw & Co: **2,841,563** + +SSgA Funds Management: **2,445,216** + +Susquehanna: **2,444,172** + +Charles Schwab: **1,233,570** + +Permit Capital LLC: **1,225,898** + +Must Asset Management Inc: **956,839** + +Paradice Investment Management LLC: **886,432** + +Nuveen Asset Management LLC: **856,902** + +Northern Trust Corp: **830,764** + +Bank of New York Mellon Corp: **640,094** + +Voloridge Investment Management LLC: **600,561** + +Russell Investments Group Ltd: **536,993** + +Alliancebernstein L.p: **428,586** + +Principal Financial Group Inc.: **376,530** + +Rhumbline Advisers: **196,460** + +ETF Managers Group LLC: **164,900** + +Wells Fargo & Company MN: **164,820** + +Clear Creek Financial Management LLC: **147,568** + +California Public Employees Retirement System: **134,913** + +Hussman Strategic Advisors Inc.: **123,000** + +Public Sector Pension Investment Board: **121,073** + +Miller Value Partners: **115,835** + +California State Teachers Retirement System: **95,920** + +Total for top 31 HODLers: **66,201,800** shares. + +There were more listed but the values were too low to even matter for me to bother calculating at this point. If the data is accurate it's like another 2 or 3 million shares roughly just eyeballing the list. + +&#x200B; + +**Top 10 Funds:** + +iShares Core S&P Small-Cap ETF: **3,645,620** + +Vanguard Total Stock Market Index Fund: **1,473,607** + +Morgan Stanley Institutional Small Co. Inception Portfolio: **1,415,967** + +iShares Russell 2000 ETF: **1,400,982** + +Vanguard Small-Cap Index Fund: **1,277,399** + +Vanguard Small-Cap Value Index Fund: **773,337** + +Vanguard Extended Market Index Fund: **769,302** + +iShares Russell 2000 Value ETF: **642,726** + +Vanguard Strategic Equity Fund: **506,537** + +iShares S&P Small-Cap 600 Value ETF: **472,273** + +&#x200B; + +Bringing the grand total to **78,579,550** + +That's just for the top 31 HODLers + the top 10 ETFs. + +78,579,550 - 70,771,778 = **7,807,772 extra** shares. + +&#x200B; + +&#x200B; + +Adding in DFV: 200k shares = **8,007,772 extra** shares. + +&#x200B; + +Goldman Sachs as of April 1st lists 900k shares according to + +[https://www.gsam.com/content/dam/gsam/pdfs/us/en/fund-resources/full-portfolio-holdings/small-cap-equity-insights-holdings.pdf?sa=n&rd=n](https://www.gsam.com/content/dam/gsam/pdfs/us/en/fund-resources/full-portfolio-holdings/small-cap-equity-insights-holdings.pdf?sa=n&rd=n) + +("Per end date" 1/31/2021 but pdf says still good as of April 1st. They also own 12m of AMC for some reason) + +That's **8,907,772** shares. + +JP Morgan France as of December 2020 annual report (But page indexed in April which could mean they still hold) lists 900k shares according to: + +A fundsquare.net link on Google but it has some strange identifier codes which I don't want to copy and paste. Just type in Google: **"gamestop" "Security Description"-gamestop.com after:2021-01-01** you'll see a PDF somewhere on the first page + +That's **9,807,772** **extra** shares. + +Someone did a poll in Superstonk recently, I'm sorry I can't find your username, pm me if you want credit but they said they estimate Superstonk alone has 25 million shares. + +That's **34,807,772 extra** shares. + +Should we keep going? Just using the top 31 HODLers + top 10 ETFs + Superstonk alone, we're at **113,387,322** shares when there's only supposed to be **70,771,778** + +***There. Is. No. Float.*** + +We're already at 144%. Not counting the rest of the institutions, the rest of the ETFs, insider holdings, and don't forget there are **OTHER COUNTRIES** in the world... Not counting all the other millions of apes with hands of diamond. + +**TL;DR Only counting top 31 HODLers + top 10 ETFs + recently polled Superstonk ownership, the ownership percentage is at 144%. Every available share is synthetic. At the rate they've been going, we literally could be at 20x to 50x the shares.** + +Edit: I am just ape who eats and also snortd crayons so I could be off on any of this information and I think just continuing this path of finding the shares is healthy for apes who like to do something while waiting for tendies. +So today I got a new message request and I clicked ok...and this message popped up: + +&#x200B; + +https://preview.redd.it/f8pd96vfu2571.png?width=630&format=png&auto=webp&s=0ddadd52c1d72b3b264c36a80faa1fc4f0e62ebe + +This is the profile + +&#x200B; + +https://preview.redd.it/8lzyesmiu2571.png?width=338&format=png&auto=webp&s=9bf68ad003809c411480622c0bf2204f00411701 + +So I am not sure what to do in this instance. I have extremely thick skin - but that is some abusive shit in there. So time to name and shame these fuckers + +So u/FinancialBluebird372 \- bring it on mother fucker! + +I will tag mods in here too, and happy to verify that this was sent to me directly. + +r/Rensole, u/atobitt, u/redchessqueen99, u/pinkcatsonacid. + +Take care out there Apes... + +&#x200B; + +EDIT: The reason I wanted to post this is to make the r/Superstonk community aware. I know I am a thick-skinned mother fucker - and this sort of shit does not get to me...but I know that this would get to some people, and it is just not right that any person should be exposed to this kind of abuse. We are not offending anyone\* by investing our own money...... + +\*....oh wait - there are some FUCKERS that are going to be seriously affected by MOASS...and they are some "choice" sub species of the human race. Messages like this confirms that they have no regard for any other life form other than themselves. They do not even care about their own fucking children or else a posting like this would be impossible to make. I would not wish any harm to an enemy's family - it is not their fault! +Recent home buyer here. + + +At these low interest rates (2% + EURIBOR, which is currently negative), I happy to keep paying the mortgage as per schedule, but when do I know it makes sense to offload investment and contribute towards the mortgage? + + +As long as my portfolio generates more than the interest for the mortgage? Surely the math can't be that simple. + + +Currently my mortgage payment is 57% principal, 43% interest. If I contribute 20-30k more, it becomes more like 70/30 then. I want to know when would be the time to do that? + + +I can contribute towards my mortgage at any time without additional fees by the way. +I've noticed that there is a certain preference in this sub for ETFs over mutual funds; in particular Vanguard (presumably due to lower fees than other ETFs?) ETFs over anything else. I'm wondering why that is, and why nobody is considering mutual funds offered by their local bank. + +To specify: I'm not talking about active vs passive funds, but rather a mutual fund that tracks a specific index, e.g., MSCI world. For example, my bank has a mutual index fund that tracks MSCI world at 0.22%, which should be somewhere around Vanguard's ETF (?). Yet, because it's from my local bank, I don't need to pay anything for buying or selling. + +So where does this preference for ETFs come from? +Hello everyone, + +With which ETFs would you best recreate All World ex-US ETFs (e.g. VEU) that don't exist here in Europe? I'm interested in accumulating funds. + +Thanks in advance! +I'm living in Belgium, and I use KBC bank to receive salary and its credit cards for online payment and insurance. + +For daily expenses and travelling though, I found Revolut a much better choice as it offers better management of cash in/out. As Revolut now operates as a bank, which means there's deposit insurance of 100k euros, should I use it as my main saving bank? + +Wise is used mostly to transfer money (another currency) but I wonder if it's operating as a bank, or just a digital financial institution (thus, less safe as a savings account)? + +Lastly, would you rather use Revolut or Wise as for daily expense, as they both offer a nice web/mobile UI to manage your money? Especially with instant balance update, which no traditional banks in Belgium have. I slightly prefer Revolut which allows me to see transactions from different (virtual or physical) cards separately. +Hi all. I'm an EU citizen who's moving to Munich next year. + +I own an apartment in the Netherlands (50% paid off) so I'm considering what would be the best course of action in regards to my mortgage. + +I think selling and using the leftover money (~180k) to buy a house in Munich is not a good idea, for a few reasons: + +- I cannot afford anything desirable in Munich with my base salary. +- Property prices in my city (in the Randstad) have been growing steadily in the past years. In Munich the prices are stagnant. I expect this trend to continue. +- Buying property in Germany is expensive: fees add up to over 10% of purchase price. On a 1MM+ house this is quite a lot of money. +- No tax incentives for owning property in Germany. Please correct me if I'm wrong. +- I don't think I'll stay in Munich for more than 10 years. + +I also don't think that selling and investing the 180k would be preferable to renting out the property (at around 1500/mo). Rental income would be tax free (the house itself, minus the mortgage debt, would be taxed in Box 3), and I expect the property prices to keep increasing. I have some concerns though: + +- Managing a rental from abroad might be hard/expensive if I have to hire a company for this. Any idea what this would cost? +- My mortgage contract doesn't allow renting out. I would have to either pay it off fully or switch to a buy-to-let mortgage. Both options incur an early termination penalty (around 4k). + +Paying it off means selling all my current investments (ETFs via ABN AMRO) and putting all my eggs in a single basket temporarily. This also means I would pay Box 3 tax on the full value of the house (est. about 4k per year). + +I haven't researched yet the costs of a buy-to-let mortgage, but I feel like this could come out cheaper than paying it off. The calculation here is fairly complex. On one hand the Dutch Box 3 tax would be lower or even zero (because of the debt), on the other hand I would be paying for the mortgage interest and also capital gains tax in Germany on my investments. Furthermore inflation seems to be picking up, it could be healthy to have some debt. Edit: I forgot to calculate in the investment yields. They should be much higher than the mortgage interest rate, making this a fairly easy choice. + +If I keep my current investments, should I transfer them to a German bank or keep them in the Netherlands? Germany will tax investment gains, and it could be a hassle to get this information from a bank in the Netherlands, which taxes total wealth. Edit: Note that this question is about the ease of filing tax returns in Germany, not about where the investments are taxed. + +Let me know if I'm wrong or if I missed something, or what you'd do in this case. Thanks. +Hello all, + +I am a Romanian citizen, living in and fiscally resident in Belgium. Two years ago I started to educate myself about investing and I started investing part of my small savings. I built a portfolio of about 22,000 euros. I am using Degiro, on their Irish website as I wanted a platform in English. + +I tried to built a diversified portfolio and at the same time to invest in fields that I was hoping will continue to grow (IT, robotics). I would like to invest long term but I would also be interested in obtaining short term gains, if/when possible. + +This is the distribution of my portfolio: + +iShares Core MSCI World UCITS ETF - 41% + +ISHARES EUROSTOXX MID UCITS ETF -15% + +VANGUARD INFORMATION TECHNOLOGY ETF - 14% + +SPDR S&P EO DIVID.ARISTOCR.ETF - 11% + +ISHSIV-AUTOMATION&ROBOT.U.ETF - 11% + +AMUNDI ETF EM ASIA - 8% + +\- How does it look? Do you have any suggestions in terms of the ETF distribution or the ETFs ? I’ve seen that many recommend to have 2-3 ETFs. Is there a downside with having more ETFs (besides paying the 2,5 euros per exchange fees to Degiro)? + +\- When I started to invest I didn’t know that it’s apparently better to go for accumulating ETFs rather than distributing ones so I have 2-3 distributing ETFs. Is the difference so important for someone residing in Belgium and given that in any case I invest ‘manually’ the dividends received? Would I need to pay as taxes 30% of the dividends I got, even if the value of the dividends is small (20-30 euros)? I have declared the dividents I received but I am not sure how this works. + +\- Do you have any idea if/how I could see the dividends paid by the accumulating ETFs? Degiro seems to show only the distributing ones and the dividends of the accumulating ETF would in any case be too small to buy even a single unit of those accumulating ETFs. + +\- My most successful investments has been my fist one, VANGUARD INFORMATION TECHNOLOGY ETF, which I cannot buy since a while due to the new European regulations. Do you have any suggestion with what I could replace it? Do you have any suggestions of ETFs or other products I should consider? + +\- Timing of new purchases. Since 2-3 months ago, the market has gone visibly down, basically cancelling almost all the gains I had made since I started investing. I know that timing the market is not recommended but given that many people expect a bear market and that they usually last about 1 year, is it not better to wait some months and buy later, say in 5-7 months from now, at lower prices? + +\- Does any of you have experience with day trading from Belgium? Is that something worth considering/educating myself about or not really worth it? I am not really comfortable with the idea of margin trading or shorting stock, because I don't want to lose my hard-earned money and because I don't have any experience going short/using margin. Moreover, what are the chances of earning in a bear market? + +Sorry for the long post. I hope you can help me with at least some of my questions. + +Thank you! + +Edit1: Sorry for the missing article in the title. +Hi everyone, first post so please go easy on me! + +I’m a Brit resident, working, and paying tax in Germany. I moved here in 2020 under the withdrawal agreement, but my contract is only until the end of 2022. This might get extended, or I have the freedom to take up another job in Germany. Sadly, thanks to Brexit, freedom of movement in the wider EU no longer applies to me. + +I’m therefore trying to figure out a way of investing that can be flexible to such uncertainties and won’t leave me with complicated tax issues/problems - whether I return to the UK in the next 12 months or stay here for another few years or longer. + +For personal reasons, until this year I’ve not been able to risk my existing capital (£15k in a UK Help to Buy cash ISA, plus several thousand in an emergency fund) by investing, nor substantially increase my cash savings. This has now changed: I’m now able to set aside at least €1500 and perhaps as much as €2000 a month. + +I am familiar with the UK system of stocks and shares ISAs as a way of reducing tax, but am a bit at a loss in Germany. Is there some kind of equivalent tax-free “wrapper”? + +If not, what is the best way for someone in my position to invest, and what should I be wary of? + +I have set up Trade Republic, though I note that some of the frequently mentioned investments on here (such as VWCE) don’t seem to be available - perhaps there are others that are similar? So I’d be interested in any comments about specifics - platforms like Trade Republic, specific ETFs, etc. - though these are widely discussed so I’m also happy for pointers and to do my own research. + +But I’m also and particularly interested in general issues and gotchas: let’s say I put €1500 per month into (whatever investments) via an app. What do I need to be aware of? Are there any taxation issues that I have to declare in an annual German tax return? + +What happens when I return to the UK - do I have to sell those investments (with whatever capital gains tax Germany imposes) and transfer the resultant € to £ (incurring fees), or can I continue to hold those stocks - and if so, what happens with tax across jurisdictions? + +Thanks for your help. +Where do you end up paying less taxes generally (taking into account wage differences(edit)? + +Also, would you ever consider moving countries in order to save taxes / save more money? +Hey. I am new in the world of investing and i want to make my first steps although a little afraid. + + +I want to buy an etf for long term but my only problem is what will happen if let's say Degiro website just disappear? If the go broke and just close the site. How am i safe? If i can't login to my account to retrieve anything? + + +This is the only thing stopping me right now from buying. +**I have two overarching questions:** + +1. **How can I best optimise my savings & plan my finances right now - what kind of investment products should I look into and where do I find what I should know?** +2. **What can I do to achieve financial goals that are not currently affordable? What numbers should I look at and what should my financial benchmarks be?** + +**About me/us:** I am an Indian national living in Austria since 2015. I turned 30 this year. I have a Rot-Weiß-Rot Plus Karte and will hopefully have a Daueraufenthaltstitel (permanent residence permit) once my current card expires in 2022. I worked as a PhD Student (comparative cognition & animal behaviour) here from 2015 to 2018, was unemployed for about a year, quit academia and changed fields and found a job in mid-2019. I now have a permanent contract and am slightly above a starter position in digital marketing & SEO. + +My partner is Austrian and is currently looking for a job. She is just about done with her master’s (also in animal cognition) and will also likely quit academia. We are currently not factoring in any money from her. She has support from her family for livelihood and some savings. She has some life savings, but we will leave that out of all the number crunching. + +**Financial situation:** I am currently debt-free and have no financial dependents. I make €1,850/month (\~€26,000 p.a.) after taxes (€2,650 p.m. / €37,000 p.a. before taxes)^(\*). + +^(\*) ^(I have no idea how "good" my salary is in my field; coming from academia, I have very low standards for salary/job security and am unsure of what kind of money I can expect / work towards in the "real world" (having a stable job with these numbers already puts me) *^(WAY)* ^(above all my friends who are in academia).) + +I currently have approx. €8,000 in my savings account (of which I've designated €2,500 as an "emergency fund") and the INR equivalent of about €12,000^(+) invested in about 75 mutual funds in India: I didn't know better when I made those investments and it is one of the things I need to fix. + +^(+ I am somewhat underestimating the Euro amount after considering losses due to the current market situation, Indian taxes on profits, currency conversion and transfer fees.) + +**Lifestyle:** Sustainability & technological forwardness (if that’s even a term) are very important to us. We rent a small flat in the city and do not own a vehicle. We’ve been reducing the crap we buy and the energy we use. I enjoy cooking so we don’t eat out often (once a week tops, typically at the local “pay as you wish unlimited buffet”). We don’t like "going out", partying, or going to movies/doing other "expensive" social things. Going for a walk around the river or sitting at home gaming is much more fun. This results in me spending less than €900 in a typical month (incl. rent and all). I spend more only if we holiday (rare) or when I buy PC/Camera parts (once every few years). This has been a constant for us and will likely not change regardless of how much money we make. + +We do not like kids, and do not plan to have any (measures already taken); our “family” will eventually be 2 (medium-large sized) dogs and a cat. + +**Our goals:** + +**Short term:** Get a goddamn car (as soon as financially sensible):I bought a used Hyundai i10 during my PhD (no public transport to research station) but sold it off last year (it was hemorrhaging my finances; cost of ownership was close to double the cost of purchase). However, not having a car makes things very inconvenient for us the moment we want to go out of the city. We visit family every week and public transport outside the city ranges from spotty to virtually non-existent. It's starting to get VERY frustrating. + +That said, we absolutely DO NOT want to use a vehicle with a combustion engine (both on principle and from a cost-of-ownership perspective). We would ideally like an electric hatchback with which we can finally start traveling again (mostly long distance road trips) with up to 4 people and our pets. We would like to keep the car as long as it can be kept. I'm open to used vehicles, but I don't know what the reliability on used EVs is like (any my used i10 has sort of scared me in this regard). My partner has pledged €5,000 from her savings towards an EV for calculations' sake (and this might increase once she has a job). + +Austria has a €5,000 subsidy, but only for new electric car purchases. There is a local bank that offers an EV loan of max. €35,000 at 0% interest for up to 5 years (comes to €584 per month if you take the full €35,000) as part of their push for sustainability. + +**Mid- to long-term:** Build a house or buy one if something suitable is available (??-10 years from now)We’d like something that doesn’t burn stuff, uses solar, perhaps geothermal, and can harvest/recycle water. Ideally, something that's as self-sustaining as possible. Unfortunately, such things rarely seem to be priorities here which means finding something to buy could be difficult. + +I have NO idea what my targets should be, and any advice here would be amazing. + +*NOTE:* My partner owns her old family house and the land it's on, but the house itself is structurally unsafe and will likely need redevelopment. No idea what the costs are like on this. Eventually, she will also inherit her family's current property. + +**Long term:** Supplement social-security retirement income (25-35 years from now?)Again, absolutely no idea what my targets should be and how this works. Advice would be amazing. + +I will get done with my legitimation for FlatEx Austria this week and then can start putting money into ETFs, etc. I will slowly start pulling my money out of the Indian mutual funds (I'll sell once they're doing well - some have already made 30% returns since I bought just as the COVID-Crash happened) and into AUT (will wait for better exchange rates before transferring via TransferWise, unless someone has any better ideas) and invest that money in EUR. + +My German is around B2 but deciphering financial and legal jargon is hard (hell this is tricky in English, let alone German). I have a degiro account but was advised against using it because I would then have to navigate taxes by myself. + +*^(I wish they'd have taught me how to deal with all of this real world shit instead of teaching me trigonometry in school.)* +Hello, I'm insane and really want a beach house (do or die), but I need to figure out how to do it without going broke, or taking a toll on my mental health. + +Currently I live in a great neighborhood but about an hour from the beach. My house is worth 1.1M and I owe 255k on it. It's on a 2.375% 15 year fixed mortgage with payments about 3k/month (including taxes/insturance etc). + +**Option 1:** I can pay this off in 2 and a half years, then start saving up for a beach house. + +Beach houses start at about 1.65M where I live in today's money. By the time I finish paying off my house and save for a downpayment for the beach house, the house will probably be 2M+. (2.5 years to pay off the house 3 years to get a 25% downpayment (which I think it what banks look for for a second home right?). + +Advantages: + +* Will end up with 2 properties. Can rent out my current house for 4.5k/month without a house payment. +* Could stay in my current house and airbnb the beach property and only go down there when I want (weekends/holidays). + +Disadvantages: + +* The beach house will go up in value. for a 1.65M dollar property if it goes up 4% a year that's 66k compounding per year more. I'm not sure I can out earn that! The inflation of the house will outpace my paycheck. I may be priced out by the time I want it. + +**Option 2**: Sell my house now, get about 720k (after taxes/realtor fees), then put it towards the beach house with a 900k mortgage at 5.25-5.5% (market rate). That puts the mortgage/taxes/insurance at 6.5k per month. + +Advantage: + +* The beach house would be locked in at 5.5% interest rate for 30 years. The prop 13 taxes in California would be locked in +* I'd get to be at the beach now + +Disadvantage: + +* The commute to work from the beach is twice as long +* It would be like half of my paycheck for a 6.5k/month payment. I'm single and am down to get roommates or even airbnb the property while i'm on vacation +* AirDNA says it could get upwards of 8k/month. I'm also crazy enough to live in the garage at the beach house and airbnb the whole house throughout the year to pay the sucker down faster. + +What would you guys do? Wait on it and have 2 properties in the end? Or jump on it now? thanks for the advice. +If we're going to crowdfund things that will benefit bitcoin, we need to start thinking about where we can get the best bang for our bit. + +Seeding Universities with bitcoin (like with MIT) is absolutely the direction we should be going, not sponsoring a UFC fighter because we want to one-up Dogecoin... That's not what we should be doing. + +Here are some past and future hackathons taking place: + +http://texasbitcoinconference.com/hackathon + +http://boost.vc/hackathon/ + +http://sf.bithack.co/ + +Misc: + +http://www.angelhack.com/sponsor/ + +https://us.pycon.org/2014/sponsors/ + +https://ep2014.europython.eu/en/sponsors/sponsoring-information/ + +http://nz.pycon.org/sponsors/prospectus/ + +http://www.pyohio.org/sponsors/ + +Credit to /u/lifeboatz and /u/welikecoin for finding links. + +Edit: Added links +Questionable if this is directly financial advice, but wanted to pass on some learnings that will save people a lot of money if the situation arises. + +Getting locked out of the house is very stressful and we have recently been taken to the cleaners by a 'rogue' locksmith. Long story short we were charged £600+ for a job that should have been no more than £100. In the process of trying to claw back the money from our credit card provider but unlikely to be successful! Knowing this information before the situation will hopefully be useful as its likely in the heat of the moment you won't know exactly what to expect! + +This website is great for finding 'genuine' locksmiths as well as highlighting the key signs of scammers - [https://www.locksmiths.co.uk/faq\_category/hiring-a-locksmith/](https://www.locksmiths.co.uk/faq_category/hiring-a-locksmith/) + +A short summary: + +1. Don't be drawn in by the 'from £39' from Google searches, use the website above or look for local businesses with good reviews +2. Make sure you get a quote and are dealing with the company you contact, not a contractor +3. If they immediately try and drill the lock, this is a big red flag +4. Highly unlikely that a replacement lock cylinder will cost more than £50, if they are asking for more than that, be suspicious +5. Make sure you have a spare key at a neighbors or at work! Costs no more than £10 to get a spare key and will save you untold misery! + +Edit: some good comments so adding point 5 + 'you need money to make money'. I started out with mid 4 figures and I don't know how people can successfully start out with much less. A lot of my learning so far has been trial and error, but if I hadn't had my margin to cover me, I'd have blown my account within a week. + +So how much did you start with initially? + +3 figures +4 figures +5 figures +6 figures +Hi I'm new into this, i think I have a little idea about the basics but I still wanna learn trading the right way, preferably for free. You have any advices about books or YouTube channels please feel free to tell me +Last week, someone asked what percentage of retired households have at least $1,000,000. By the time I found time track down data and build a model, the thread has dropped way off the front page and I thought the rest of you might be interested in the answer. By my calculations, around 27% of households headed by someone 60 or older have a million dollars or more in assets. I took 3 different pieces of data (below) and built a financial model that made some assumptions around the current age of people who became a millionaire when younger. It's not perfect because the millionaire data is individuals and I had to make aging assumptions but it's probably within a percentage or two of the real number. + +I'm surprised by how high the number is, but I guess if 11% of all households are millionaires and older Americans have more money then it makes sense. + +Nearly 11% of households are millionaires, I had to do a weighted average of white, black and Hispanic averages. +https://www.washingtonpost.com/news/wonk/wp/2017/10/03/white-families-are-twice-as-likely-to-be-millionaires-as-a-generation-ago/?utm_term=.c3d1123bb7f6 + +Distribution of what age millionaires make their first million. +http://www.businessinsider.com/it-takes-the-typical-self-made-millionaire-at-least-32-years-to-get-rich-2015-3 + +Distribution of people by age: +https://www.statista.com/statistics/241488/population-of-the-us-by-sex-and-age/#0 +Back in September I received a text from Venmo saying there was a password change request. Since I hadn’t made the request, I logged into my account and saw that a bunch of money was transferred into my Venmo account from some business I didn’t recognize and then transferred out into my bank account. I reported the hacking to Venmo and changed all of my passwords and such. Turns out someone had hacked my account and created a business profile attached to my personal one. This fake business account then received money from a different fake account. Not sure if they had meant to transfer that money into my bank account. I asked Venmo support what to do with the money and they said to just transfer it back into my Venmo. No other instructions and no further news on where this money came from. They seem totally unconcerned as to where this money came from. Does anyone have experience with a situation like this? Is there a time limit before the money is safe to claim for myself? It has just been sitting in my Venmo for months. No one has contacted me about it. I’d feel bad if it had been a mistaken transfer from an stranger but this was definitely from a hacker who probably scammed someone else. +I retired early-ish today, having hit financial independence a couple of years ago. + +Not entirely sober at this point, so I'll keep it simple. + +51/M/5'11"/175lbs ... no, wait, wrong subreddit. + +I'm 51, just hit earliest unreduced pension after 30 years of full-time work. My wife and I have been living on that pension amount for years now. The rest of my salary, and her half-year salary, and our rental income have all gone to paying off our four rental properties - which we did a year ago. + +I liked my job (IT) well enough, but it was stressful (IT). My wife asked me for a few months why I was working that stressful job for money we clearly didn't need. That is, if we were financially independent, and my job was hurting me at least as much as it made me feel good, why was I working for someone else? Finally, I had no good answer. + +So my life and time are now my own and we have more money available than we have been used to living on, and now we have the time to use it. So, now what? That's \_not\_ a desperate cry for help to you all - rather just a bright-eyed head-shake of question to myself. + +I've really appreciated your stories and wanted to chime in at this inflexion point of financial independence. +Hi Reddit, + +Bit of background 18M, working full time and looking to get a car (living with parents) + +Should I finance a car? The car I am looking at is around 200 a week and down payment of around 2k or more if it's a better idea (not sure). + +&#x200B; + +I have two options with all pros/cons I can think of: + +1. By the car outright. I'd be saving for at least 8 months based on my budget, and saving a lot, more than half my salary. I don't have many expenses other than expenses for my current car (my parent's), boarding etc. +2. Finance a car. I'll have money for other stuff. I've always been against debt but now the time is here it seems better to pay over 3 years rather than saving every dollar I possibly can. + +Am I missing something? I don't want to make a stupid decision at this age. My job has reliable income only thing I can think of to go wrong is COVID lockdowns, which even then seems unlikely. + +Please let me know those more experienced! + +&#x200B; + +Thanks :) +A massive housing/banking collapse is coming to Australia. Follow my logic + +- Even prior to coronavirus, 1.3 million people were negatively gearing investment properties in Australia (aka writing off interest payments because the rental yield does not cover mortgage repayments) [https://www.abc.net.au/news/2018-12-12/housing-industry-insiders-issue-negative-gearing-warning/10602484] + +- Australian property is among the most expensive in the world [https://www.realestate.com.au/news/worlds-priciest-homes-how-australian-house-prices-compare-to-the-rest-of-the-world/] + +- 27.4% of the Australian workforce is now unemployed or underemployed [http://www.roymorgan.com/findings/8363-roy-morgan-unemployment-and-under-employment-march-2020-202004080900] + +- We have ~300,000 Airbnb's with extensive travel shut downs with no end in sight (limited domestic and no international travel) [https://www.rent.com.au/blog/airbnbs-australia] + +- ~18-25% of the Australian index is weighted to retail banks exposed to highly leveraged and now unemployed australian's [https://www.asx200list.com/] [https://mobile.abc.net.au/news/2020-03-21/mortgage-pause-coronavirus-nab-commonwealth-anz-westpac/12076690] + +- Banks are allowing people to put mortgage repayments on hold, but interest accrues [https://mobile.abc.net.au/news/2020-03-21/mortgage-pause-coronavirus-nab-commonwealth-anz-westpac/12076690] + +- Prior to the crash household debt to GDP was trending upwards with ~20% of people already experiencing mortgage stress [https://www.ardea.com.au/australian-household-wealth-and-its-hidden-exposure-to-the-housing-market/] + +- A significant number of the ~800,000 international students are unlikely to be back this year with borders shut down (https://www.studiesinaustralia.com/studying-in-australia/why-study-in-australia/international-students-in-australia) +Howdy everyone, + +&#x200B; + +Change of pace from the technicals! Today will be a nice crash course on the public accounting industry. + +If you're new to my Tax Series I highly recommending saving/skimming my earlier topics. They're super helpful to help gain and understanding of things and **might make conversations with a CPA a lot easier!** + +[Part I - Income](https://www.reddit.com/r/Superstonk/comments/niz85x/tax_cheat_sheet_part_i_income/) + +[Part II - Deductions](https://www.reddit.com/r/Superstonk/comments/nk9bv8/tax_cheat_sheet_part_ii_deductions/) + +[Part III - IRAs and Other Deductions](https://www.reddit.com/r/Superstonk/comments/nnyc9d/tax_cheat_sheet_part_iii_iras_and_other_deductions/) + +&#x200B; + +This was the most requested topic and the one I'm most qualified to talk about! **BOY do I have a lot to say about it.** + +Get comfy and buckle up. Time to teach you all about the public accounting world. . + +&#x200B; + +**Fun Fact #4**: Here's a story from one of the clients I worked on, K9 security dogs are an asset to a K9 security company. A K9 can only be a security dog for so long before they age. Hence K9s lose value over time as they preform K9 services. Therefor, K9s are considered depreciable assets and the depreciation can be deducted on the business's tax return. **LOL** + +&#x200B; + +# A Serious FYI Before Going Forward + +I have worked in the tax industry for 2+ years and am an active CPA. I have worked in Big 4 accounting firms, Middle Market accounting firms, and start-up accounting firms. Everything I am sharing is based on my own experiences from working with multiple CPA firms. I am providing all of this knowledge because I enjoy giving back to the community and want to help spread awareness. + +&#x200B; + +**I have not and received any compensation for my recommendations. Nor has anyone asked me to push a certain narrative.** I wouldn't post anything here that I wouldn't do myself. And **even though I'm a CPA** and can probably research everything that I need, **I will still be hiring a CPA to do my taxes post-MOASS and beyond.** + +&#x200B; + +I like keeping things casual and fun here. As certain topics come up I will post some serious titles if I want a point to be strongly considered. + +&#x200B; + +Thank you. Back to the fun now. Let's get sexy. + +# What is a CPA? + +&#x200B; + +A Certified Public Accountant (CPA) is a certification awarded by the state you live and operate in. For tax returns, they are the one signing your return. They will also be calculating your tax liability for documentation and support the numbers on your return. + +# What Does It Take to Become a CPA? Is it Hard? + +Here's a niiiiice little list of the steps you need to follow to get those fancy letters next to your name: + +&#x200B; + +1. **Graduate from a 4-year University with 150 qualified semester hours, or 225 quarters, including required accounting courses.** This is typically 5 years of schooling. *(Most CPAs get a Master's Degree to meet this requirement. Some accounting firms require a Masters Degree.)* This credit, if approved by your state's Board of Accountancy (BOA), allowed you \*\*t***o start taking CPA Exams***\*.\* +2. **Pass 4 CPA exams within a limited window**. Most people fail. If you don't pass all of them within this allowed window, you'll lose credit for the exam you passed first! I'd say each one take about a month to study for (roughly 100 hours of study time for each 4.5 hour exam) +3. Pass the AICPA Ethics Exam +4. \*Some states require you to pass a state-specific exam after this +5. \*Some states require you to have a minimum work hour requirement before you can be licensed. Usually **2,000 hours in related work or \~1 year.** +6. After all this you apply to your state's BOA. Only after they approve your application will you be allowed to say you're a CPA. +7. You need to renew your license every few years. **There are continued learning requirements** that you have to meet or you will lose your title. + +**Tl;dr:** It's hard to become a CPA. Most people with the title are very qualified :) You can search for all CPAs in your state by going to your state's BOA website. + +&#x200B; + +# A Truth You Probably Won't Like to Hear + +Most Apes here will have very easy tax returns ***initially***\*\*.\*\* I would estimate a CPA firm could finish and file it within a few hours. It may not seems that the price you're paying for services is worth it. + +See most people don't really need an accountant to do their taxes for them. They get their W-2 in the mail (what you get if you have a job), maybe they have some interest and dividends from stock, and they take a standard deduction. This can all be done with $25 worth of turbo tax and it will take 30min. + +**That being said, I highly recommend hiring a CPA firm to take care of this. Here's why:** + +# Why the **** Would I Pay a CPA Thousands of Dollars if It's so Easy??? + +&#x200B; + +&#x200B; + +[Dank Memes](https://preview.redd.it/qjzfzro4wa271.jpg?width=600&format=pjpg&auto=webp&s=97cb0cda1d4d64a246ed4e9c81cc69efebec8c3f) + +1.**A CPA Reduces Your Risk** + +***This is the most important thing in my opinion.*** + +&#x200B; + +You've probably seen this meme or something similar. It's not really accurate, but it bring up a good point. Unless you are deliberately trying to hide stuff (fraud - if you do this I hope you get caught), you will probably won't run the risk of jail time. **You will be fined....a lot**, especially if you underpay your tax liability. Let me be clear, Jail time is a real threat, especially when you have foreign activity. But are you going to be thrown in jail for paying $300 less than what you should have? I doubt it. + +&#x200B; + +**When a CPA signs your tax return, they are now liable for its accuracy.** Post-Enron (would love to cover this at some point....it's fascinating), CPA firms are required to document and store all workpapers to support their calculation. **This is valid for all returns** (Business, Gifts, Trusts/Estates, Non-profits, etc.). + +&#x200B; + +If there was an error on the return, or if you get audited, the IRS will go to the CPA firm and request all documentation and calculations they used to support the amount of tax you owed/paid. Post-MOASS, you will suddenly have millions of dollars of income\*\*. Do you really want to take-on all that risk and hope you did everything right? Do you have any work to support your calculations?\*\* + +&#x200B; + +This alone makes it 100% worth it. + +&#x200B; + +2. **CPAs Are Highly Specialized** + +I've gotten a lot of great questions from Apes on how to set up businesses, non-profits, private foundations, etc. I am not an expert in any of those areas. These experts do exist. A lot of CPA firms have entire departments specialized on one aspect within tax. + +&#x200B; + +* **Want to know the difference between an S-Corp and LLC?** There are people who work on entity structure/design all day +* **Did you start a business (or want to), but aren't sure what states you owe tax in?** State & Local department will help you out +* **Want to set-up trusts for your Grandkids?** Yup, there's probably a Trusts and Estates team you'll talk with +* **Want to build a real-estate empire?** There's a ton of rules (and tax advantages) in real estate. + +&#x200B; + +I could go on for a while. The top people at accounting firms, partners, are experts with 10+ years of experience in a certain field. + +By paying them, you can spend your days driving lambos, donating your time and money to make the world better, and traveling....while the accountant researches all day working for you. + +Last thing I'll say is there are way too many tax forms. It's impossible to know every single thing. You may have seen on my earlier posts that I've listed some tax forms you probably haven't heard of (or know that you needed). I promise that the Partners of CPA firms know way more than me. I'll chat about partners later in this post. + +&#x200B; + +This is why I recommend paying to play. I'm a frugal individual, but **this is the wrong thing to try and save some money on.** + +&#x200B; + +**3. They Can Take Care of Your Estimated Tax Payments** + +&#x200B; + +I've gotten a lot of questions on handling estimated tax payments (will make a post eventually). Do you know you can have your CPA calculate your federal and state ETPs for you. No work on your end! You get to see all their math at the and. + +Different states have different filing rules. Your CPA will tell you where/how to make all estimated tax payments, the estimated amount you'll pay to avoid penalties, and when they're due by. + +&#x200B; + +**4. Do You Enjoy Doing Your Taxes? Do You Like Stressing About Them?** + +This is for comedic relief, but it's still valid. I don't need to explain this anymore. + +&#x200B; + +I could go on. But I've made my point. + +# OK I get It. Where do I find a CPA? + +Great Question! Let me Introduce you to the world of Public Accounting: + +# What is Public Accounting? + +&#x200B; + +[My Experience Summed Up](https://preview.redd.it/g44byetiqa271.jpg?width=1080&format=pjpg&auto=webp&s=d7bef15ad0bc2513b8f2e79dbda1622ff53b2edd) + +Most of you might be unfamiliar with this industry. It's actually huge. Allow me to explain. + +&#x200B; + +Public Accounting firms are companies that provide a wide range of specialties within the business/accounting world. + +&#x200B; + +Here are the most popular services: + +* Tax +* Audit +* Risk Assurance +* Consulting +* Financial Planning/Wealth Management +* Valuations + +Notice I've been only talking about tax. There are other important aspects within the accounting world. + +Lots of Apes will need financial planners. **I am not knowledgeable on this industry. I only know tax.** What I will say is that public accounting firms can easily refer you to their consulting/financial planning/wealth management leaders within the company. + +**Speculation:** I don't have evidence to support this. Just a got feeling. I would expect that if you're a client and you want let's say.....A Trust Attorney, A Lawyer, a Certified Financial Planner (CFP), they will probably know experts in that field. See my section on Partners below. + +# Quick Breakdown of the Main Roles in Public Accounting + +There are more levels, but I'm summarizing the ones you'll probably speak with. + +1.**Partners** + +These are the top dogs of the company. They are the ones who will probably speak with and they will sign you return. They are owners of the company. Their main focus is bringing in clients and advising in their specialized industry. You want this person to be specialized in the areas you're interested in. + +**2. Managers** + +These people will be overseeing your tax engagements. Once the return is prepared, they will be preforming high level review, based on their calculations to verify that your tax return has been filled out correctly based on their math. + +**3. Staff (ME)** + +The newbies. They are responsible for preparing your return and providing supporting math from the information you have us. A staff won't know everything, which is why managers will review return drafts multiple times, then send back down to the staff for revisions. Think of this as like writing an essay and sending it to someone for feedback. Believe it or not it's an art. + +# How Does the Process Work? + +**1. Sign Engagement Letter/Statement of Work** + +Before work can be started, you'll sign a contract (sometime called a SOW). This basically says you're hiring the CPAs to work on these tax returns along with the hourly billing rates that each level of employee on your tax engagement will charge. + +**2. Provide All Relevant Information to Accountant** + +They're going to ask you for info. I'll tell you what they want. + +**3. Provide follow-up answers to Accountants if/when they run into questions about you** + +You're a new client. The first year is always challenging. They might have to ask additional questions later on. Please respond. + +**4. Accountant Prepares Return** + +This doesn't matter. You're too busy being retired :) + +**5. You will get to look at the return** + +When the return has been manager-approved, you will get on a call with the manager/partner and get to look at your return before it is filed. Once you approve it, the accountant will file the return with the IRS and or the needed states. If payment is required, they will either take care of this for you, or instruct you on how to make the payments. + +That's it. + +# What Will They Ask For? - Read Me + +Your CPA will send you a laundry list of things they'll need from you to complete your return. Some are personal questions (Did you move? Do you own Crypto? Did you get married? Etc.). Some are physical documents. All reputable firms have a secured portal where you can upload these. Usually there is a standardized form where you can just fill in the answers and send back. + +Most importantly, **we will need copies of your tax returns from previous years**. We need this for documentation; it will help us know what we need to request from you this year, and there may be information in a prior year return that can reduce your tax liability. + +Have you heard of **SALY**???? SALY is every Accountants best friend. SALY = Same As Last Year. This means that **everything included on your last year's tax return will be needed.** + +Examples include: - ***this is why you should read my other posts as I talk about these in detail*** + +* Bank accounts (1099s) +* W-2s from your job +* Social security numbers +* Stock portfolios (1099s) +* Property Taxes paid + +\*\*\*\*\*\*\*\*This means....**if you've open up new accounts**, new brokerage accounts, new job, new IRAs, etc., **we have no way of knowing.** A lot of Apes Transferred out of Robinhood to another broker. We will need info on this. **If you've done new things this year, we need to know!!!** + +**SAVE YOUR RECEIPTS.** **SAVE EVERYTHING.** If you're planning on donating a lot of stuff to charity, we need proof that you made those contributions. I need physical proof you donated $50,000 to this charity. Trust me is not acceptable. **If you don't have proof to support your numbers, we can't use them in your return.** + +# How Not To Piss Off Your Accountant + +**This isn't as hard as you think.** Here's an insider's ~~3~~ 4 tips to not make your accountant hate you (it's a real thing) + +1. **Don't be a Stingy A-hole** + +&#x200B; + +[The Worst Client](https://preview.redd.it/jv2yojp2db271.jpg?width=1080&format=pjpg&auto=webp&s=9362db111ef7c924f701f396cac3045a68b35971) + +This is the most accurate accounting meme I've found. We are provide a huge service and it's worth whatever price. You want your accountant to like you....we'll do an extra good job if you're nice! I doubt Apes will really be rude. More so just venting. Yes it's a real thing. + +**2. Please Respond When We Ask For More Info** + +[F-You if You Do This](https://preview.redd.it/ks6rr7mldb271.jpg?width=828&format=pjpg&auto=webp&s=eab8e24aba56d1398b36ef5601cdb10be7a43ac9) + +This is the most common thing. **Every. Freaking Time.** You are not the only client at an Accounting Firm. Just because taxes aren't due until April 15th, doesn't mean you can just wait to respond a month later on April 12th. There are multiple levels of review. If you do this, you're going to make some poor 20 year old work until midnight on April 15th (and we might make an error that late at night). A few days is totally fine. But for my fellow ADHD/Anxiety Apes (I have both), please don't forget :D + +&#x200B; + +3. **Do NOT Send a PDF of your Business Activity** + +[This Happens WAY Too Much](https://preview.redd.it/1s1lyr62fb271.jpg?width=801&format=pjpg&auto=webp&s=5a56566a1aca04f64a736e9924702edbe37ed8d4) + +Not relevant as much for individuals. **More so for businesses.** We use excel a lot. We need excel to run special calculations on your income. If you own a Business, or anything that requires a list of income/expenses, don't send me a PDF of it. Send it in excel. I don't want to retype everything by hand. And if I convert to excel, it will create a lot of bad formatting. + +**4. Adding** u/Shotgun516 **'s comment here as they bring up a good point:** + +"Two other things... + +As a cpa I would say another thing not to do to piss us off is to **\[don't\] act like you know our field better than us.** It’s okay to ask questions and to be speculative when you see your return, but don’t act like you know more than us. + +In my ten plus years of experience, I’ve worked with a lot of accountants and different sized firms. If your current accountant takes forever to get back to you, or you have to contact them several times before they even get back to you...find another company! There are SO many qualified firms out there and if they don’t act like you’re a priority, then you need to find someone that does" + +**That's it! The process isn't as scary as you'd think!** + +# So What CPA Firm Should I Go To? + +**Most Partners are Salespeople.** I would assume a majority of CPA clients were just done through networking. A lot of the process I described above will me similar or exact at every company. + +The industry is divided into a few categories of CPA Firms: + +1.**Big 4 Accounting (Deloitte, KPMG, PwC, EY)** + +These are the 4 largest accounting firms in the world. **They are located in** **~~every major city~~** **most US states and Countries**. (u/HodorTargaryen pointed out they are not in every state. See I'm not perfect :) ) They handle almost every Fortune 100 Company. They also do tax returns for professional athletes and celebrities. Cream of the Crop. + +They have large teams, experts, for probably every niche in tax. They will probably be the most expensive as a result. I would also expect they would know the lawyers at the largest law offices. There is a price for prestige. + +**2. Middle Market Accounting Firms (BDO, Grand Thornton, Crowe)** + +These are the next largest firms. Their clients aren't as huge in size as the Big 4, but are still large. Middle Market firms will still have all the niche groups as Big 4, but there not as clearly separated. A staff at MM might work on a trust return then work on a corporation. At Big 4, every "team" will only work on 1 type of return/specialty/industry. + +**MM Firms are located in most cities. Some might be in a specific US region.** For Example: Plante Morane focuses mostly in the Midwest. Moss Adams focuses in the west coast. If you like the idea of these firms, I would recommend either the largest ones in most cities, or one with 20+ offices in your region. + +I would guess these would be slightly cheaper than Big 4, but not by a considerable amount. + +**3. Boutique Firms** + +These are more local firms with only a few locations. Rather than thousands of employees nation-wide, they may only have 15 people. Rather than being large in size, they focus on being really specialized on one or a few industries within tax. This could translate to a Big 4-level of knowledge, but in a more personal setting and only with a few areas. + +You can check your local area for these, but be sure to look at the partners and their specialties/backgrounds. + +I would guess they'd be cheaper than #1 and #2 but not by anything considerable. + +**4. Mom & Pop Shops / Freelance CPAs** + +These are local local CPAs. I doubt their ability to properly handle high net worth clients. They will be the cheapest in price. **I recommend avoiding.** + +# Research? + +Here's some reviews and rankings to get you started in the right direction + +[Top 50 Accounting Firms of 2022](https://www.vault.com/best-companies-to-work-for/accounting/vault-accounting-50) + +[Top 50 Accounting Firms for Client Interaction](https://www.vault.com/best-companies-to-work-for/accounting/best-accounting-firms-to-work-for/client-interaction) + +I used [Vault.com](https://Vault.com) and [Glassdoor.com](https://Glassdoor.com) to ready employee reviews of accounting firms as interview-prep. Since you'd be clients and not employees, I'm not sure how important employee reviews of the companies are. + +Every reputable accounting firm will have all of their partners listed on the company website (they are owners of the company after all). I would recommend checking a few in your local area once you've narrowed down a few firms. + +**See if their specialties align with what you want to do with you money Post-MOASS.** Do you want to own a lot of businesses? Want to start your own business? Want to set-up a non profit? Trusts/Estates? Want to set-up a business in another country?? Only you can answer that. + +**Try and find a personality fit if possible.** Accounting firms love bragging about how much they give back and volunteer (Google CSR Report). Look at the organizations that some of these companies are involved with and see if they align with you personal values? That's how I scored a Big 4 internship in college. + +# What Should This Cost? + +I really don't have an estimate as I don't know billing hourly rates of every accounting firm. I hope I've explained why price shouldn't be the only factor. You're paying for expert knowledge, liability protection, convenience, and a professional reference to other professionals you may need to meet with. + +There's also a chance a partner sees your income and offers you a deal to stay with them long term (especially if you're young). I will just throw out $15,000 with little information. It could end up being $5,000 or $20,000+. Will definitely get more expensive when you add in businesses, gifts, trusts, etc....but again, **it is worth paying an expert than trying to figure it out yourself. Haven't we all worked hard enough?** + +# When Should I Reach Out? + +**Post-MOASS.** When I say "high-net worth clients" the **minimum net worth a partner would expect would be $20M+** (aka 1 share of Gamestop). If you show up to a partner with $10k in your bank account and try to convince them t*hat the squeeze is not squoze* they will probably laugh at you. Wait until you are legit wealthy. Partners are Salespeople as well as Accountants. They may reach out to you first. **Never hurts to start researching.** + +# My Recommendation + +**I do not know what best for you.** I hope I've provided enough insight to point you in the right direction. + +**I'd recommend 2 strategies:** + +* Find a large firm with experts in every area that you'd be interested in getting involved in Post-MOASS +* If you don't like the idea of a large, corporate firm, find a boutique firm in your area where the partners are highly specialized in the areas that you care about + +Most importantly, **don't let money be the only factor in your decision making**. It will be 100x better to overpay for high-quality, then to get a really good deal and have to deal with set-backs. + +# Tl:dr + +In my professional opinion, you should hire a CPA to do your taxes from now on after MOASS. There is no correct way to go about finding one. Regardless where someone works, a manager or partner in tax is qualified to help you. + +# Closing Notes: + +&#x200B; + +* We're going to get to Gifts/Estates/Trusts! A lot of this information builds off each other, so I think getting through some basic loss/deduction rules will be helpful before we branch off into other tax entitles +* I've gotten a lot of interesting *and specific* questions on State Taxes. For right now, **the answer is I don't know!** The rules are all different and can change at any time! This is why most accounting firms have an entire team dedicated to JUST State & Local Taxes. +* I will put together **a step-by-step easy guide** on how to find out all of your state questions online (it's not as advanced as you think. This is what we do in public accounting) +* **Foreign apes,** I see your comments! I just ask you to be a little patient! Let me get through the rest of the fundamentals and I will get a post for you guys! I honestly know nothing about this area (just yet)! +* If you find any interesting articles/videos/topics about highly specific things, feel free to comment/DM them and I will try my best to explain. +* **Don't get too comfy.** If MOASS this summer, I would expect most state to add or increase their tax rates as a result. No idea if/when they would be pass + +&#x200B; + +Thank you so much for reading :) + +# Topics I Will Cover in the Future: + +* Gift Tax, Trusts and Estates +* Foreign Apes / Non-US Residents +* Estimated Tax Payments/ How do Understand Your State's Tax Rules +* Non for Profits / private foundations / etc. +* Rich People Things +* Tax Entity Structures +* How to Do Your Own Tax Research +* Other? Comment below! + +# Sources + +[https://klasing-associates.com/tax-preparers-may-liable-much/](https://klasing-associates.com/tax-preparers-may-liable-much/) + +[https://www.businessnewsdaily.com/11205-when-should-you-hire-cpa.html](https://www.businessnewsdaily.com/11205-when-should-you-hire-cpa.html) + +[https://www.vault.com/company-profiles/accounting/pricewaterhousecoopers-llp/company-reviews](https://www.vault.com/company-profiles/accounting/pricewaterhousecoopers-llp/company-reviews) +Hi All, + +hoping you can help. My fixed rate mortgage is coming to an end and im looking to a new rate as early as tomorrow, however im having some difficult choices. In short i have 3 options + +2 Years fixed at 2.7% + +5 Years Fix at 2.7% + +or +10 years Fixed at 2.29% + + +These are all with my current mortgage lender, ive looked at comparison sites and no one seems to beat this. So am i mad for considering a 10 year fixed rate? + +For further context i am looking at upsizing at some point soon so worry that this might affect my future plans. I understand there is a review of interest rates due on Thursday, which frustratingly is a few hours before my appt with the mortgage advisor. + +So should i fix for 10 years, what are the negatives i might not be considering? + +Many thanks in advance + + +*Edit* many thanks for all the helpful comments, i hope others found it useful as well. To answer common questions it is a portable mortgage and its with a large bank so should be ok when im looking to move in the not too distant future. + +I've decided to go ahead and Fix for 10 years, it gives me piece of mind and fingers crossed its also the most optimal financially as well. Many thanks once again all :) +So, I’ve been telling people since CME announced the bitcoin futures market that institutional investors will short BTC for massive profits. it makes sense that they would and it’s 100% what I would do if I wanted to make the most money possible. Of course it requires more capital than 99% of us can ever afford. + +It’s simple really: + +Buy a ton of btc and hike the price up to new ATH”s. +When the futures market opens, short btc at its all time high. +Dump all btc holdings causing a flash crash. +Close short positions with huge profit. +Rebuy cheap btc with all that profit. + +Rinse, wash, repeat? + + +It seems I’m not the only one who see’s this writing on the wall. In fact it seems the idea is catching on pretty quick which is awesome as it gives people a chance to alter their strategies so as to navigate this possibility.. + +Now, with that said, at what point do we reach.a critical mass of people who plan to act on this? Does game theory kick in and the bankers instead just buy futures contracts instead of shorting them? + +In that case they can drive the price up as everyone sells and make money by exercising the futures contract for gains on btc, all while lifting btc beyond the economic reach of the many. + +In other words, it probably doesn’t matter what we do. The big money will do the opposite and make it hurt regardless.. + +My optimistic 2 cents. +I need $400 by MONDAY to keep a roof over my and my son's head. I do have a way to get the money, and I know I need to be a big girl and suck it up for the sake of my son, but I really don't want to. I know someone that will pay me for \*favors\* if you know what I mean. I did this once before and I fell into a deep depression and was honestly a neglectful mother at that time. I'm scared that will happen again. I need to keep a roof over our heads, but i don't want to turn into a shell of myself like before. Could anyone who has been thru this before give me tips on how to cope with doing this? Or if there is another way to make money as quickly please tell. +Over the weekend, my parents were killed in a car accident. I'm a twenty year-old college student, and an only child, and I have absolutely no idea where to begin on dealing with everything and am feeling very overwhelmed with it all. I figured everybody here at personal finance would have some tips. + + +My dad's parent's passed away years ago, and my mom's side of the family doesn't talk to us since years ago, so I can't really turn to family for advice on how to handle this. + + +They had a will, but I haven't taken a look at it yet. + + +Currently, our possession's consist of; + + +My mom's SUV, my dad's Honda Civic, and my Toyota Camry. + + +A four bedroom home in which I live in (I lived at home with them) + + +They own rental properties in Canada, and I know my dad has investments in the stock market. + + +And they have savings and checking accounts. + + +I guess my question is where do I go from here? How can I not make an already bad situation worse by mishandling everything? + + +Thanks in advance. +Can anyone help shed some light on what I could be missing to explain why my estimated tax return is smaller than my actual tax return? Happy to be corrected if I’ve missed something that’s staring me right in the face. + +Previously I’ve plugged the figures into pay calculator to see roughly what I’m expecting in terms of tax return and it’s been pretty accurate in what I receive back from the ATO. + +Lodging my tax return this year I’ve received $1958. + +My taxable income of $69156 is the same in pay calculator and in the ATO. I paid $17589 in tax. + +I did lodge my notice of intent to claim form for my after tax super contributions. +First and foremost, we're all individual investors and this is all just my opinion based on the current information available to me. This is not financial advice. How you choose to invest is of no business to me, I just felt like giving some perspective that I'm not seeing on this sub right now. + +I've been invested in GME a year. Migrated/followed from sub to sub. + +For a whole year now we've been told to be weary of calls to action. + +How many times in the past year have apes been told to go to this website or to use a link that will be beneficial for ape and the GME movement only to see them used as data phishing attempts, for one example. + +I'm personally so weary of calls to action I haven't even used the DRS bot. If we look at the data from CS we see we have over 100k accounts yet the last time I looked at DRSbot it only had like 8k accounts...so I don't see the point of putting any data that could somehow benefit SHF into the DRS bot, but I digress. I'm not trying to shit on the DRSbot, I'm just trying to show how much I don't jive with "calls to action". All I know is "Buy. DRS. Hold". + +That being said, I have never seen such an **urgent** call for action as I'm seeing right now with options. + +I don't have an opinion on options because I am absolutely ignorant to all things options. + +That being said, the point I'm trying to make is that I've been here a year. For a **year** we've been told to be weary of calls to actions. For a **year** whenever we saw a mass call to action like this it was immediately followed by people saying "be weary of calls to action" and I'm not seeing that right now. + +Apes have been hyping the last half of January for a few months now. + +Here we are, just weeks from that date, CS up over 100k accounts, everyone only **just** learned how to DRS....and now all of a sudden *options* are being shoved down our throats en masse. + +Food for thought. + +**Edit** + +I do find it suspect that this is happening at this particular time in the ape journey. + +We've only been DRSing since the summer. + +GME is cheaper now than at **any** time we've been DRSing. + +Now that it's easier for apes to DRS (we know the right brokers to start from, now-or we have accounts at CS already up and running) than ever before we are seeing this push for the *more expensive and harder to understand* options play. + +I don't think it's a coincidence. +There is a lot of talk about elon musk and michael saylor and other big players , and how much they are doing for btc adoption , which is great. They deserve the spotlight. + +I just wanted to take some time to show appreciation for andreas antonopolous. The average person will never know about him, and the mainstream media will never mention his name. But he has played such a big role in making so many people understand what bitcoin really is. In my humble opinion, we wouldn't be where we are today without him. + +A smart, humble, patient individual with a rare ability to deconstruct and make sense of the most complex of subjects. A true visionary who doesnt care about the financial gains that may come along with bitcoin, but about the potential for this technology to better people's lives. + +If it wasn't for him, I would have dismissed bitcoin as hype couple years ago. He was the only one who made things click. Thanks to him I saw the light. + +So thank you Andreas for all your hard work and passion. + + +***Edit*** this little post from a nobody just blew up. Goes to show you the kind of admiration and respect the people in the community have for him. I never even imagined the man himself would read this and reply, but he is such a man of the people that he actually did. + +Andreas, keep up the good fight. The history books will remember your name. +https://www.irs.gov/newsroom/irs-to-recalculate-taxes-on-unemployment-benefits-refunds-to-start-in-may + +The IRS updated its guidance on the reporting of unemployment compensation revised by the American Rescue Plan enacted on March 11, 2021. It applied to me and I thought this might be helpful for others like myself. +Yes you heard it here first folks first time home buyer wanting to get in the game and start building wealth, Im young and ready to go through the experiences of owning a rental property. I am decently-confident(lol) I can maybe get 200-300 more in cash revenue by turning another room into a third bedroom, but closing the deal how the numbers look right now I cashflow neutral. I still do believe this was the right move, however definitely wasn't a home run deal especially for first time purchase. Thoughts? +My wife and I are on track to being debt free by the time we are 30 (Hurray!). Next goal- children! What should I expect when it comes to the medical expenses involved in child birth? How should I prepare? What type of insurance coverage should I make sure we have? I have no clue when it comes to any of this, so all advice is appreciated. +Join me, won't you, on a magical thought experiment. + +You find yourself sitting on a couch, wearing a pair of crocs, and playing angry birds. You have a few DVDs to return to blockbuster. All the news stations are talking about the Deepwater Horizon oil spill. And you realize, holy crap, what year is this? You grab a newspaper to check the date and suddenly realize, newspapers are still a thing! You aren't dreaming. This is real. You know what you need to do. You need Bitcoin. All the Bitcoin. Where does one even get Bitcoin in 2010? Or should you mine it? It's going to take a little research. So you open a browser to start figuring this out. + +Good god, Yahoo! homepage, by default. Anyway, you figure things out and begin to sink every penny into it. Bitcoin is at 3 cents! You sell everything you've got. You don't need your car, right? Retirement accounts? Screw it, it's worth the tax penalty. Pokemon cards--actually maybe hang on to that one. Once you're out of things to sell, it's time to start borrowing money from anyone and everyone you know. They'll thank you later. All the bitcoin. You need all the bitcoin. + +Until finally, the family stages an intervention: + +"Let me get this straight. You gave everything away? Everything?" + +"I didn't give it away. I bought a digital asset." + +"Can we see it?" + +"I mean... it doesn't exactly work that way." + +"So you gave all your money to some 'Tasoshi' guy on the internet? Who is it?" + +"Well, we don't know WHO Satoshi is, that's not the point. But no, I didn't give the money to him. I bought--" + +"Is this like, some kind of cult? Did you join a cult?" + +"I'm going to be the richest person on the planet. You just have to wait a few years and--" + +"You think this guy on the internet invented money, and he sold it to you, for... all your money?" + +"I didn't say he invented money. He invented a currency that doesn't rely on a central authority. It's non-inflationary because you can--" + +"But you already told me you can make more of it with graphics cards." + +"Yes, but you can't make more forever. It'll hit a hard-cap in 2140 and every four years they--" + +"2140!? What are you on?" + +**\*\*FAST FORWARD A FEW YEARS\*\*** + +"Honey! What can we say. You were right, we were wrong. Bitcoin is at $10. Sell it now and just think how rich you are!" + +"Sell at $10!? Are you nuts?" + +"What price are you waiting for?" + +"I don't want this to lead to another intervention." + +"What like, $20? $30? Oh dear god, honey, please don't tell me you're holding out for it to go over $100." +**TL;DR:** I became FI on 3/1/2017 with 1.001M in investments and 1.401M net [worth](http://imgur.com/moBGZGO). 38 years old, married, 99% single income, no kids, self-discovered FIRE in 2004, began career as a retail pharmacist on 8/15/2005, loathed my job but stuck with it, income 125k-150k, 75% savings rate, had opportunities that many did not but took good advantage of those opportunities, many things worked in my favor while some things did not, made a lot of good decisions and a few bad ones, did not buy stupid things. I will likely RE on 3/30/2017 with SWR of 2.99% (30k/yr) with forty different hobbies and interests to pursue (including a sub three-hour marathon, currently in 3:04 condition) [stuff](http://imgur.com/0ajOsTQ) . AA: 60% VSCIX, 20% VFWAX, 20% VWLUX. What follows is targeted toward the general population and might seem a bit elementary at times to r/FI. Ask away… + + +~~ + + +**How and Why I Retired at 38 without Couponing**: A Waldenesque Account 11.5 Years in the Making + + +When I wrote the following pages, or rather the bulk of them, I lived alone with my wife, in the woods, a quarter mile from any neighbor, in a house which I had built to a certain extent by myself, in the proximity of a nameless pond, in Readyville, Tennessee, and earned my living by the labor of my hands counting pills for revoltingly irresponsible and unappreciative individuals. I have lived there 5 years and 11 months. At present I aspire to be a sojourner in civilized life again. + + +It has been said that retirement is merely a decision to stop trading time for money. Since I no longer need more of the latter to sustain my standard of living, and since I do not enjoy and never have enjoyed the primary method at my disposal to acquire the latter, I have decided that the former is of more value to me going forward in life. I will say little about my 11.5 years of experience as a retail pharmacist, other than to confirm what I already knew from the beginning to a much lesser extent: people are stupid, ignorant, obese, hateful, difficult, obnoxious, bigoted, misinformed, irresponsible, and intellectually lazy. Instead of dwelling on that horrible industry any longer, it is my hope that the following financial information might be of some use to members of a younger generation who are planning their own future independence. Be forewarned however that early retirement might also be a financial bubble in its own right. I discovered and strived on this principle beginning in 2005, but it seems to have exploded in popularity around the time of the market rebound of 2013-2014. The philosophy of financial independence only provides practical outcomes for the potential retiree as long as there are others who will keep obliviously running on their self-imposed treadmills. Productivity must be high (Americans work themselves too death), and the cost of goods must be low (Americans exploit slave labor overseas). This would not have been possible fifty years ago, and it may very well end up impossible fifty years from now. If you believe that our parents and grandparents had an easier financial adventure to navigate than the one we currently have, you seriously need to take a step back and compare what each generation would consider a decent standard of living. + + +Throughout my life, there have been a variety of circumstances that have aided me in my goal to retire before the age of forty as well as a few unforeseen (and perhaps, unforeseeable) obstacles that have set me back. I will now share several instances of both, including how much each has saved or cost me (including opportunity costs of subsequent investments). I would be wise to begin with the favorable circumstances that were primed before my life even began. I was born a healthy white male in the United States during the 20th Century. Essentially, I won at life on easy mode. Few other countries and time periods would allow a set of financial rules in which a person could become so financially solvent by doing so little, and I can think of no other country in which so many people have self-imposed financial treadmills that will keep raking income for me long after I decide to step off of my own. Granted that being a white male in this country does not provide the full array of unfair advantages that it once did, I can still say with little doubt that there were countless unknown instances in which my identity made my pursuit of early financial independence much more attainable. + + +I was also born intelligent. It is nothing to brag about. I say it merely because it is relevant, and because it is true. I did nothing to deserve or acquire this quality. In fact, I could have very easily squandered what advantages my genetic makeup provided me. Despite having an IQ that places me in the top two percent of the population, I scarcely managed to graduate in the top fifteen percent of my high school. I satisfied only the bare minimums for a full scholarship to MTSU. I freely admit that I completely mailed it in on my education from seventh through twelfth grade. I rarely took a book home. I did not try. Video games, music, and the opposite sex were far more important to me than keeping a 4.0. I was, however, responsible enough to know what I had to do to when the time arrived. I knew when I had to cease goofing off and become a more responsible individual. The complete independence of college made me try once more. With high school behind me, my analytical mind was awoken. I started seeing many aspects of life in a different way. Most importantly, I remember the need to craft a long-term plan. In short, my current state of financial independence would be impossible if I lacked the mental capacity to obtain it. + +*Bipartisan political rant redacted* At the time of writing this announcement, I have benefited from $20 Trillion in national debt that I will likely never have to pay back. I was essentially gifted my share of trillions of dollars in services at no cost. Rates of taxation are currently way too low to sustain the country’s bloated standard of living. The bill will doubtlessly be passed onto future generations. But not my future generations. I have no future generations. (Savings: $60,000). This is my fair share of the national debt. + +As I previously stated, I did only what was necessary to earn a full ride to MTSU (Savings: $13,000). I was also granted a second scholarship during my sophomore year just by taking the time to complete a two-page form (Savings: $2,000). My parents also allowed me live at home while attending college (Savings: $20,000), bought me a car in high school that lasted throughout college (Savings: $20,000), bought me another car for graduating college, which I drove until it died fourteen years later (Savings: $30,000). My parents also provided me with enough money to get our initial home repairs started (Savings: $10,000) and assumed the debt of the majority of my pharmacy school education and living expenses out of a sense of parental obligation (Savings: $100,000). My parents are also financially responsible people who emerged from dirt-floor shotgun shacks in rural Tennessee before amassing a net worth of $500,000 that will one day be an inheritance for my sister and me (Savings: $250,000). I truly had not realized how much my parents helped me financially until I typed this paragraph. I also fully appreciate now why it has been said with much despondency that inheritance is the true way of earning money in America. + + +The story of how I ended up as a highly compensated pharmacist is not an exciting one, but it is a necessary detail of how I arrived at my current state. I think it is fair to say that I was semi-indoctrinated as a child with the notion that I was smart enough to go to college and become a physician one day. American parents in the late 20th century had an unhealthy obsession that doctors and lawyers were what all intelligent children should become. So that is the path I obliviously started pursuing, and two years into college, I was dreading where was I headed. Since I wanted out of medicine but didn’t want to waste all of my science credits, I had to choose between optometry, which required Calculus III, or pharmacy. Fortunately, the contemporaneous job market was working strongly to the advantage of my decision to avoid Calculus III. At the time I had switched my career plans, pharmacists were making $50,000 yearly and were projected to be making $75,000 by the time that I would be graduating in six more years. Due to additional unforeseen shortages, that figure ended up exploding to over $125,000 (growing to $150,000 by the time of my retirement). Upon graduating, we all had dozens of job offers due to those shortages. A six-figure job fell right into my lap. I even negotiated a rate $3.50/hr higher than their opening offer (Savings: $125,000). That pharmacy window is now closed due the eminent bubble burst from an abundance of graduates marching out of the abundance of recently opened schools. + + +This brings me to an important point: I did not pick the career that I wanted to pursue. Reflecting back, I would much rather have tried astronomy, cartography, paleontology, cryptography, or meteorology. I picked what the market demanded. I will leave it to the philosophers to debate if this is truly what one should do in practice, but it benefited me greatly in financial matters. Over the past 11.5 years, I merely had to show up, look semi-presentable, count pills, answer questions that could have easily been Googled, listen to left wing complaints that big pharmaceutical companies are robbing the consumers yet never hear anyone consider other avenues to resolve their health problems, and listen to right wing complaints about how Obama is trying to kill them by raising the copay of their $500 morbid-obesity-fighting Crestor prescriptions from $20 to $30. Ironic rants coming from intellectually and physically lazy individuals belonging to the party of so-called personal responsibility were as common as any other aspect of the job. But I digress. + + +Nothing could have been more important than my having stumbled into this single epiphany early in life: Happiness does not come from material possessions. Americans tend to buy things that they don’t need to impress people that they don’t like with money that they don’t have. I do not buy things just because I can. I have lived well below my means by saving 70-75% of every paycheck. I have made investments early in life and witnessed the miracle of compounded interest. As far as my investments choices are concerned, I went with small-cap indexed mutual funds with a low expense ratio (VSCIX). The single mistake of choosing an actively-managed fund over an indexed fund would have cost me $100,000 or more over the past 11.5 years alone. What benefit would I have received to beat the market by 1% if the person actively managing my finances was charging me 3%? For the love of all that is holy, avoid financial advisors, particularly those without legal fiduciary responsibilities to their clients! And those doomsday warnings from conservatives about how the market will soon and inevitably collapse? Nothing but sour grapes from those who missed the bullish bandwagons, opting instead for the illusory security of gold and bonds. In fact, I could have very easily reaped even bigger rewards by treading on the riskier grounds of buying individual company stocks, but Warren Buffet, I am not. + + +So upon graduating, I accepted the overnight position at CVS in Ohio from 2005-2010 for two reasons: it minimized interaction with the intolerable general public, and it paid 5-10% more than the dayshift (Savings: $60,000). I could scarcely let this point pass without mentioning that one-third of that additional income was entirely unearned or unwarranted. I say this because it was company policy that an overnight pharmacist be paid the bonus differential only from midnight to 8am (not from 8pm to 8am as they were doing in Ohio). I neglected to ever point out the mistake to my supervisor. I also received a $1/hr raise in 2013 for taking over as pharmacy manager for six months. The raise was intended to be temporary, but someone forgot to take it away once I reverted back to my regular staff position. I neglected to draw attention to this little tidbit as well (Savings: $10,000). + + +No purchase regularly has a larger financial impact than a primary dwelling, and I say with much pride that our first home was a very simple one. There is much debate among investing communities whether a house should be considered an investment or an expense, but I tend to agree with the latter camp. I cannot claim that I have a Waldenesque receipt of every expense that went into the process, but I bought what we needed. I did not buy what we could afford. Lenders will tirelessly provide calculations of how much house a person can afford; how much house a person actually needs does not make its way into the equation. These quotes are based on mortgages that financially enslave a person to the bank for 15-30 years. Typically, this means working until very late in life, especially if homeowners elect for refinancing at some point down the road. The purchase price for our house in 2005 was $120,000, but I also invested $40,000 in rehabilitation to bring the total cost to $160,000. Bear in mind that I made this sensible purchase during a troublesome era in which financial institutions were carelessly pawning off McMansions onto people scarcely earning minimum wages. Such individuals who would have acquired a house priced similarly to ours via the 30-year mortgage plan would have ended up paying in excess of $400,000 for that house, including $250,000 in interest alone. I paid ours off in less than three years, including about $10,000 in interest. + + +Our next house was even more sensible than the first. I exercised great patience and found a 28-acre tract currently worth $150,000 for only $85,000 (Savings: $65,000). I also contracted the house myself with the help of my father. Members of the family did what we could to keep costs down (design, permits, clearing, site prep, outdoor utilities, roofing, flooring, trim, cabinetry installation, painting, and cleanup). Subcontractors were hired for the balance. A well-insulated, energy efficient $200,000 house ended up costing only $120,000. It should be of note that the final cost was artificially low due in part to cheaper labor from the contemporaneous weak construction market of 2010-2011 (Savings: $80,000). The most important savings on the house came from the purchase of the Japanese roofing tiles. A domestic company acting as a middleman quoted me $30,000 as the cost to import the roofing material. For some inexplicable reason, they opted to include the Japanese business card of their supplier in the information packet that they sent. Taking just two minutes of my time, I emailed the contact myself and asked if I could purchase from them directly. The price she quoted me was $15,000 (Savings: $15,000). It never hurts to try. + + +We decided to build our home in the income-tax-free State of Tennessee. Conservatives here are too dense to appreciate that a shift from consumption-based taxes to income-based taxes would benefit the overwhelming majority of them immensely. I profit from their stupidity (Savings: $50,000). On a related note, knowing the tax code makes an enormous financial difference. Among other shady decisions in the legal gray area, I have turned hobbies into small businesses, taken vacations in the interests of running those businesses, and even claimed a single $7,000 reforestation credit for simply improving and planting on my property (Savings: $20,000). In the 1% chance that I get audited, I can reasonably defend every deduction I have ever made because the tax code is needlessly complicated and nuanced. In essence, it is designed to benefit only the rich and knowledgeable. “I don’t understand all of that tax stuff” is not a good reason for any taxpayer to remain ignorant about it. One can spend a single weekend learning the system like I did and easily save $20,000 over the course of a lifetime. I know most people have wasted far more time than that by binge watching something irrelevant on television. I will leave it for the reader to compare the potential savings versus the time spent. My advice is to relocate as much of your spending to the before-tax column as is legally permissible. I should also say that relying solely on those tax preparation programs to maximize your savings is not a wise move. They do not teach a person how to think critically. Such a quality is not innate; it must be learned and practiced. + + +Timing has played an indispensable role as well, but it has been far from perfect. I consolidated my federal student loans for my parents in 2005 at a ridiculously low interest rate (2.3%). Interest rates on student loans are currently north of 6% (Savings: $125,000). The financial crashes of 2008 and 2011 happened when I had little invested in the markets, but I kept investing and soaking up index funds at artificially deflated prices. Then came the inevitable rebound of 2013-2014, thanks largely to partisan politics and the Republican gift of corporate corruption that allowed no real regulations against Wall Street in the wake of the recent financial crisis. I was also fortunate that I was born heterosexual. Why? For the first eight years of my marriage (2007-2015), I would have paid 5% more in income taxes if I felt biologically compelled to share my life with someone who had matching genitals (Savings: $50,000). Somehow that would not have seemed fair. And while I am on the subject of marriage, allow me to proudly declare that I married a great woman who is neither shallow nor materialistic. Two months salary on a diamond ring? Not trying to impress anyone. She much preferred an antique birthstone that defies conventional customs and looks way more spectacular (Savings: $20,000). $15,000 Wedding? No inadequacies in need of compensation. Got married, honeymooned in Vegas, and loved it (Savings: $14,000). Will I ever buy a fancy $10,000 box to bury someone in the ground? I am not an idiot, nor do I want anyone in my family to be buried in an idiot box. Life is not a competition to acquire status symbols. Break out of this mentality of doing things that you think you are supposed to do! The primary reason a person cannot retire early is because that person spends far too much. The open secret to creating wealth is to spend less, be content with less, and worry less about financial matters that you cannot control. Adapting is easy; complaining wears you down. But if you remain determined to compete with your coworkers, go ahead and do so while I apoplectically rue the times when I had some. + + +I lead a simple life and maintain no expensive hobbies. A lot of men in this region look forward to the point in their lives where they can become overweight so that they look proper while fishing in a $20,000 boat. More power to them. Each person has a right to carry his existence how he chooses, but the worst I have ever done with my hobbies is to drop $2,000 on a bicycle that loses barely 5% of its value on an annual basis. But even this decision was much later in my career, and the hobby has the benefit of helping me keep healthy. Staying healthy also keeps doctor bills lower and/or nonexistent. There are no outrageously expensive professionals to allow me access to outrageously priced prescriptions to control my health. There is no need to purchase material things to compensate for the depression of not being healthy and feeling good about oneself. Even being able to keep the thermostat higher in the summer is a benefit. One can easily add more clothes in the winter, but one cannot easily remove insulating adipose in more temperate conditions. + + +Every purchase I make is on credit card, which earns 1-5% in amazon credit (Savings: $20,000). I then purchase the things that I need on amazon via my own 5% off click-thru links (Savings: $5,000). The savings were even greater before amazon started collecting sales tax. I may have neglected to report all of those purchases in years prior, just as all of the readers may have made similar mistakes. We dropped the worthless cable television subscription in 2013 (Savings: $5,000). We dropped our cell phone plans in 2006 (Savings: $15,000). We dropped the services of the home telephone company and purchased a $200 ooma in 2008 (Savings: $6,000). We maintain smaller wardrobes. We rarely purchase alcohol. We never buy tobacco or other drugs. We make smaller charitable contributions in life and are smart enough not to belong to a religion that often suggests you consistently contribute to their maintenance. Tithing would have yielded a potential loss of $250,000, and I am enlightened enough to know that religion does more harm than good to humanity. Instead, we will be leaving everything to worthy charities when it is our time. While there is no real sacrifice or benevolence on our part, I doubt that it will make any difference to the people who will be receiving it. And then there are the smaller things in life: stretching oil changes to 7500 miles, avoiding a daily coffee habit, rarely paying $1-$2 for bottled water and sodas, leaning toward the dollar menus at fast food restaurants, reflecting before purchasing, making good use of the library, etc. It all adds up. + + +Perhaps the greatest savings arrives from fighting the indoctrinated societal pressures of having children. Let’s be honest: everyone loves their children but very few people are truly happier by having them. I need not argue my point. Studies show support for my position. I would go so far as to suggest that people simply have them out of ritual or expectation, only to wish later that they had waited until further down the road, had fewer children, or had never reproduced at all. Of course no one is going to wish his children away once they have become attached to them, but it is my position that most people would be happier without an enormous responsibility that they have never known. No one seems to appreciate the true opportunity cost of children: $250,000 each not including college. I will be just fine with our dog. + + +With all of these benefits, you might be wondering what circumstances did not work in my favor. To start, I will have to return oddly to the summer of 1992 when my father was religiously engaged in raising cattle for show competitions. In an attempt to engage me in his interests, I was given one of his prized heifers in exchange for grooming and showing her at county fairs. She sold several months later for $1,700, which was an abundance of wealth for an eighth grader to come into. I was very much into collecting comic books at that point and tried to convince my dad to co-invest with me in a copy of Actions Comics #1 in Good condition for $4,000. (For you non-collectors, Good condition is an evaluation to conclude that a book is sufficiently damaged enough to be worth only 10% of its Mint condition price). My father wasn’t going for my idea. Today, that book would be worth around $250,000. I should have tried harder. Deliberate understatement. + + +I also failed to gain admission into the pharmacy school at UT Memphis. At the time, it was the only program in the State; now there are six (part of that pharmacy school bubble that I mentioned earlier). So why did I fail to gain admission? First, I did not focus on the interview as much as I should have because I had already been granted acceptance to the school that I ideally preferred (but which was way more expensive due to being privately funded). I did not hit a home-run like I did with the first interview, but I am certain that I performed well enough to be offered a position. Second, I feel that I was passed over for being a white male. UT Memphis made it a point to advertise that they had the largest female and minority body of any pharmacy school in the country. I do not point this out to cry discrimination or to argue points against diversification. I do not even wish to dispute its fairness. I have already stated that my gender and race have served me in ways I cannot begin to appreciate, but after learning of the qualifications with which some of my classmates were accepted, I can safely say that this was one instance in which who I am did not serve me well (Cost: $40,000). I should have tried harder. Deliberate understatement. + + +While I am on the topic of education, allow me strongly emphasize that private schools are no better than public schools merely because they are privately funded. Most people do not realize that the cost difference is purely the amount of the bill that the taxpayers carry; it is not due to the quality of education. Private schools might seem like better atmospheres to certain types of people, but I strongly urge the reader to not be a fool. Attend public university. + + +If I were to define insurance, I would say that it is a form of quasi-voluntary socialism in which the healthy give to the unhealthy, the responsible give to the irresponsible, the careful give to the careless, and the lucky give to the unlucky. My employer has spent $70,000 on my medical policy over the past 11.5 years. I have personally spent $30,000 on my part of that policy. I have used no more than $5,000 (Cost: $25,000; or $95,000 if CVS had just given the money directly to me instead). It is simply not fair that I do what I can to stay healthy and save money, only to have the vast majority of my premiums given to people who do not take care of themselves physically and mentally. Yet I must recognize my inability to do anything constructive about it. I must maintain a policy to protect against disaster, especially with the ACA now mandating it. Without a medical insurance policy, I could easily be hit by a bus and get wiped out financially (and perhaps literally) in the blink of an eye. Or I could get cancer. Or I could lose an arm. I even purchased life insurance, as well as accidental death and dismemberment insurance, because my duty to protect the narcotic supply was not without its hazards (Cost: $10,000). I also carried homeowners insurance and full vehicle coverage for far too long (Cost: $10,000). This is a game we all play, and we tend to play it with a surplus of caution. But I must be mindful that in a parallel universe, I could have very easily lost everything. This brings me to the worst insurance policy that I bought, which I call Ted Cruz insurance. It appeared to me that his influence was going to drive the country to default on its loans and crash the financial markets in 2014. I moved my money into safer investments for a short period and missed out on a small portion of the surging market (Cost: $25,000). Cruz either blinked, or he is not as stupid as his political positions indicate. Lessons learned. Do not try to time the market. + + +I paid off our mortgage way too early. This looked like a smart move in 2008 when the financial markets were crashing and burning around us, but that perspective was based on a short term view. The $120,000 loan offered at 5% annual interest now seems reasonable compared to the 10% annual interest that the market has earned since 2005. The smart move would have been to carry the loan and invest my extra finances in the market (Cost: $100,000). Lesson learned, but I could have just as easily been wrong. We also bought our first house at the height of the housing bubble. I watched enough house flipping shows on television to know something suspicious was upon us, but the timing of my graduation ensured that I could do nothing about it. We only received $125,000 back out of the house in which we had invested $160,000, but these losses were carried back over into gains by building during the weak construction market that I mentioned earlier. However, my hatred of humanity also drove me to acquire more land than was necessary for our second house. Twenty-eight acres of privacy in this area cost $85,000. We are almost ten minutes from civilization. Granted that this real estate purchase could be considered an investment, and quite an intelligent one as I mentioned earlier, but we do not plan on ever selling the property. Improper exterior construction planning on my part also led to more backfill, fencing, replanting, and yard maintenance (Cost: $10,000). I do not wish to delve further into that. There is also the matter of additional fuel costs from being so far removed from civilization, and I drove a very fuel-unfriendly car for fourteen years that I chose when I was only twenty-three and not thinking of such matters (Cost: $5,000). But as it was, we spent too much time in the high income-tax State of Ohio and paid greatly for the decision (Cost: $30,000). Relocating back to Tennessee was the smart move financially. + + +I should have accepted more of the overtime offered to me when I was much younger and the job was much easier. The earnings from each shift would have been worth double what each shift would be worth now if the money were properly invested. I should have accepted the $2/hr raise offer to make the move to dayshift six months earlier than when I did, at which point the offer had passed (Cost: $30,000). I also held too much emergency savings in municipal bonds from 2012-2016. Municipal bonds are terrific at avoiding federal taxes, but there were many better investments to be made in a surging market. Put simply, I was not sure how much longer I would be able to survive my job when it started becoming very difficult from 2011-2013. I felt that I had to keep a certain amount of liquidity, and I let those investments sit around for far too long. Such a decision is easy to second-guess but difficult on which to place a cost. Social security will likely be only 75% solvent when I elect to receive it, but the lost earning potential from the tax-free loan that I have paid into the system will end up being the far greater blow (Cost: $100,000). If only people were responsible enough to save on their own instead of the government doing it for them. + + +There were also the two big vacations that we took to Japan and Europe (Cost: $10,000). We waited until later in my career to visit these wonderful places, a decision which helped prevent greater opportunity costs, but I would have held no regrets either way. They were worth every dime. Eating out at casual dining restaurants is a killer for me. It is my weakness. I love food. We do not often dine at expensive places, but paying $25-$30 three or four times per week certainly adds up (Cost: $100,000). I also tip 22% on average because I find it distasteful and highly unethical to be frugal at the cost of others. + + +While I can never be entirely certain of future outcomes, conservative retirement models based on historical market performance suggest that a 38-year-old individual with an asset allocation of 80% in equities and 20% in bonds should be able to earn an average annual return of 6% after-inflation and safely execute an annual withdrawal of 3% from said portfolio with far less than a 1% chance of market volatility causing him to go broke before dying. In terms of real numbers, I will begin my first year of retirement with $1.001M, should on average earn $60,000 in interest, withdraw on average $30,000 in living costs (with subsequent increases for inflation), and end my first year of retirement on average with $1.031M. Simulations suggest that the average principle balance should be around $10M after sixty years if spending an inflation-adjusted $30,000 per year. If one analyzes the simulations from the perspective of maximizing spending, a withdrawal of $34,000/yr would still have failed to deplete the portfolio over any sixty-year span. + + +The seemingly large discrepancy between the 6% return and 3% withdrawal is not to ensure a growing principle, but rather it is an implemented failsafe that has been designed to offset the costly effects of potential downturns in the volatile market during the critical early phases of retirement (known as sequence risk), as well as the known hidden costs of inflation. In the overwhelming majority of scenarios, however, the principle amount remains untouched and does indeed grow exponentially. The ultraconservative model I have followed also makes a few catastrophic assumptions: no social security income, no supplemental income, no inheritances, no national healthcare plan, no disability payments, no spending adjustments for recessions, no spending reallocation for hyperinflating sectors, no observance of the known reduction in spending with age, no liquidation of our excess land, and no ability to downsize or tap into home equity. The only risky assumption I have provided the model is that the ACA subsidies (or some form of them), which I will cover shortly, remain intact until Medicare eligibility. In other words, the likelihood of me ever having to earn another dime for as long as I live is still substantially lower than the likelihood of an event catastrophic enough to reshape the global financial culture beyond the point of recognition. + + +Pre-retirement annual expenses for my wife and I were $38,000 and can be broken down in the following manner: Food $10,000 (Grocery $5,000 / Dining $5,000), Medical $4,000 (Insurance $3,000 / Costs $1,000), Transportation $5,000 (Vehicles $2,000 / Gasoline $2,000 / Insurance $1,000), House $5,000 (Utilities $1,000 / Internet $1,000 / Taxes $1,000 / Insurance $1,000 / Maintenance $1,000), Other $14,000 (Supplies $4,000 / Vacations $3,000 / Entertainment $3,000 / Miscellaneous $4,000). I have assumed the following cost adjustments to our expenses going forward: an increase of $1,000 to fight the inevitable fits of boredom with more complex entertainment, a decrease of $2,000 for having more time to prepare food at home, a decrease of $2,000 for lower fuel consumption, a decrease of $1,000 from dropping the homeowners insurance policy, a decrease of $1,000 to due to increased flexibility in scheduling vacations, and a decrease of $3,000 due to gaming a quasi-loophole in Affordable Care Act tax credit policy. Allow me to elaborate on that last point. + + +Citizens with incomes below the Federal Poverty Level are ineligible for these Federal credits because these individuals are supposed to be covered under State (not Federal) Medicaid programs. However, State Medicaid programs disqualify people who have a high net worth through means testing. An individual claiming an income just above the Federal Poverty Line, whether the income is real or not (e.g. Roth conversions), qualifies for ACA credits because the determination process for ACA credits does not take net worth into consideration. ACA credits for individuals just above the Federal Poverty Line pay for the monthly premiums in their entirety, or about $6,000 per year. Furthermore, there is no increase in income taxation for claiming an annual income of $16,000 because the income on which this credit qualification is based is calculated prior to deductions and exemptions that would convert a Gross Income of $16,000 into a Taxable Income of $0. In other words, an individual with an annual income of $0 has the same tax burden as an individual with an annual income of $16,000 (due to standard deductions and exemptions), but a high net worth individual with an income of $16,000 qualifies for a $6,000 tax credit while a high net worth individual with an income of $0 qualifies for nothing. Due in large part to the questionable structure of the process for determining ACA subsidies (and tax policies in general), our annual expenses post-retirement will decrease from $38,000 to $30,000 (adjusted annually for inflation). I have even budgeted conservatively and expect our living expenses to be closer to $27,000 for the first year. This gives us a higher standard of living than 99% of human beings who have ever existed. Let it be known that any similar couple who cannot live on $30,000 per year has serious emotional issues in need of resolution. I must also say that I do not feel the least bit guilty for taking free healthcare coverage. I have paid far more into the system than I will ever get out, and I actually take care of myself unlike the majority of Americans. + + +So what am I going to do with myself going forward? Instead of waking up and going to a job every day that I loathe, I will spend time doing things that will better serve myself and humanity as a whole: cycling, running, swimming, exercising, weightlifting, bowling, golfing, kayaking, collecting things, socializing, visiting my parents, spending more time with my own family, mentoring students, volunteering, deconverting religious adherents, learning Rubik’s cube algorithms, writing, painting, warning anyone who will listen about the danger of pain clinics, reading, studying, listening to music, watching movies and television, playing video games, housekeeping, organizing, cooking, picking up litter, looking at the stars, metal detecting, going to yard sales, improving my Spanish and Japanese, monitoring investments, building a treehouse and a cabin, traveling, retreating into nature, sleeping, and relaxing. I might even try my hand at opening a business, writing a novel, making a movie, or recording an album. I can finally do whatever I want, whenever I want, wherever I want. Life is an opportunity to navigate existence in the most meaningful way possible. In the end, I may not have chosen the safest and smartest path at each fork in the road, but I fully intend on being content with the decisions I have made. I will also come to appreciate fully that financial stability is not the sole measure of my worth. +Terra / LUNA, once in the top 10 of the crypto capitalization list, crashed more than 99% from its all-time high and its holders saw their portfolio being destroyed in a few days. This event caused a general cryptocurrency bloodbath as a reaction. + +**A police report has been filed yesterday by a Singapore citizen. He claims that he knew of more than 1000 Singaporeans that invested in LUNA and UST. UST was sold as the stablecoin that will remain pegged to $1 but it dropped to $0.1 because the ponzi scam collapsed. LUNA became worthless overnight. A total of $32 Billion dollars is lost.** + +&#x200B; + +https://preview.redd.it/gw1wis9yovz81.png?width=490&format=png&auto=webp&s=062d7d2e45318b44da00dabb4609cd2204f59335 + +&#x200B; + +https://preview.redd.it/9c1csg20pvz81.png?width=494&format=png&auto=webp&s=feb1bcab38e711f2d52bdd65bd30fd0d3694cd2a + +&#x200B; + +https://preview.redd.it/pcr2kio1pvz81.png?width=493&format=png&auto=webp&s=53750a393ca29239a45dbc797d64ed9e0ac44518 +If we, the tax payers, wipe the slate clean should student loan borrowing be allowed for future generations/students? + +What have you got to say for anyone and everyone who has paid their loans back. No matter their circumstances. + +Should the people who opt for forgiveness be penalized or be given a fresh slate to incur other debt? + +This is an insult to anyone and everyone who has made even a single student loan payment. You insult their time they spent paying back to the pot. + +Whether you down vote to oblivion or upvote to the sky. I’d like to know your opinion. + +Edit: If loans were to be forgiven in the near future, I would take the LSAT go to the most expensive school that would take me. Pay for all 3 years in advance with an additional 40k/year for “living expenses” and demand it all be forgiven. + +And then of course withdraw from the program after forgiveness. + +Edit: y’all saying college should be free are looking for adult daycares for people to go and “figure” themselves out. So what, the state raises you until you’re 23, 24, 25. Then what after you spent 120,000 dollars on an elf spotting certificate and partying crazy. You gonna complain the state should give you a job digging holes just to fill them in and at a top tier wage? + +No accountability today. News flash, this country is in trouble and it has everything to do with entitlement. + +Edit: I am actually for 0% rates for the loans and spaced maybe over 180 payments. If you play the system correctly there is no reason anyone should be coming out of school with over 65,000 in loans. If you went over it’s because you didn’t work, get any scholarships, took out more to party, or went to an out of state school or private school which is just stupid. +This has probably been asked before, but couldn't find it. I hope this is the right place to post. + +How inaccurate is this movie? They take moments to describe the film story shortcuts that were taken, but sound hard on the numbers and facts. + +How close is this to the consensus of what happened? + +I do math well, but have never looked at economics(probably need to). + +Thank you! +We know there are democratic reps and their assistants that are reading WSBs right now. + +So I’ve made a list of questions we’d like to see asked and answered. +No more bullshit! + + +1. Vlad, Confirm date, time and timezone you referred to when you said that 5am was when you were given notice to new margin requirements on the 28th of January. + +2. DTCC confirmed they waived their margin requirements 30minutes before market open on the 28th of January. You stated those margin requirements were the reason for limiting purchasing of AMC and GME. If those requirements were waived, why did you limit the sale, and why did you lie during our last meeting? + why were those trading restrictions continued after Robinhood was aware of the margin requirements being lifted? + +3. Citadel, you’ve had adequate time sense out last questioning to verify if someone at Citadel was in direct contact with Robinhood regarding GME and AMC directly. Was any current or prior employee, contractor or fulltime, in contact with Robinhood directly regarding these tickers? + +4. Citadel, you injected several Billion dollars into Melvin Capital and also have financial ties to Robinhood. Do you believe that is a conflict of interest + +5. Vlad, who made the offer to restrict buying on AMC and GME? Why were those stocks specifically picked when you chose to restrict + +6. Vlad, Why did you restrict buying of shares and options when you could have made restrictions on options alone to satisfy what you claim were increased margin requirements. When someone has cash to purchase shares that are not on margin why restrict them? + +7. Vlad, free and efficient markets would dictate that if there were ever a moment in which stock needed to be paused, it would have been paused for both buying and selling and that options contracts would be adjusted for time. Why was this not your approach? + +8. Why didnt the SEC step in and halt trading + +9. Why does IBKR say they were worried about locating shares? Why were shorts not forced to close their positions? + +10. Vlad, did Robinhood reachout to the SEC for recommendations regarding how to handle the AMC and GME stock before cutting off retail investors and not Hedgefunds? + +11. Melvin, do you know what a short ladder is? + +12. Melvin, were you aware there was a handful of traders after the stock was restricted that were using a shortladder technique to further drive down share value of AMC and GME? Their trading charts were almost identical which is a statistical impossibility unless automated systems were artificially brining down those shares. + +13. Melvin, did you increase your short interest in GME during the January 28th retail stock restrictions? + +14. Melvin, do you or anyone at your company have any have knowledge of contact with media, including social media, to spread false information regarding GME or AMC? + +15. Citadel, do you or anyone at your company have any knowledge of contact with media outlets, including social media, to spread false information regarding GME or AMC? + +16. Vlad, were you or anyone at Robinhood in contact with Interactive Brokers about GME or AMC, anytime in the leading up to the January 28th stock restrictions? + +17. Vlad, the ceo of Interactive Brokers admitted on live TV(Feb 17th) that if buying restrictions were not set on retail investors then share price of GME would have forced shares to go into the 1000’s. Causing shortsellers like Melvin to default on their brokers leaving brokers covering themselves. Was this the real reason you cut off retail investors? + +18. Citadel, the number of shares that failed to deliver on GME is massive. Were the “failures to deliver” an artificial tool used to drive down share price? Do you have knowledge of someone who did? + +19. Melvin, did you take advantage of stock “failure to deliver” to bring down share price of GME and AMC? Do you have knowledge of someone who did? + +20. Melvin, last time you admitted to a gamma squeeze of shares on GME. Is it still possible if another buying frenzy happened that an actual short squeeze would take place? + +21. DFV, do you think that if another buying frenzy happens on GME and AMC that another potentially huge short squeeze will happen? + +22. Melvin, what is your current short interest in AMC and GME? + +23. Citadel, if another buying frenzy happens on stock like AMC and GME, what kind of a loss could citadel directly see? + +24. DFV, are you confident enough in GME to allow your options to execute and buy more shares at a deep discount? + +25. DFV, what could executives at GME do to protect their shareholders at this point? +At the end of my interview today, they asked me what my salary expectations were. If I threw a number too low, I'd lose money. A number too high, they'd move on with the next candidate. Instead, I told the recruiter, "I'm very flexible when it comes to salary requirements. What has your organization budgeted for this role?" She told me that was a great question and gave me a range. + +I learned this off PF, thanks yall. + + +Edit; + +Some users have brought up other ways, I highly recommend reading it below. +To all the long-term equity investors who do their due diligence before investing out there. + +- How do you decide which stocks to examine further? What factors or screening methods do you use? + +- How do you go about understanding the underlying business and evaluating the management and the industry? Where do you get the information from? (Eg. Company’s website, Screener) + +- How much research do you do before deciding whether to invest or move on to the next one? + +- If you decide you like the company, How do you decide what you pay for it? + +- What do you do after investing in a company? Do you keep up-to-date with the latest developments and make buy/hold/sell decisions? Do you forget about making the investment? + +- anything and everything else I am missing. :) + +I understand the research process is going to vary from industry to industry, company to company. But, there are going to be some parts that you do that are common for every company regardless of the industry, market cap. I want to know about that. + +Thank you so much. :) +What am I missing here? + +Take an example of the [Shiram Finance fund](https://www.stfc.in/fixed-deposit-online), giving an annual return of around 6.5% whereas the best corporate bond mutual fund, as per value research, has given 1 year return of 3.79%([link](https://www.valueresearchonline.com/funds/selector/category/129/debt-corporate-bond/?end-type=1&plan-type=direct&star-rating=5%2C4&exclude=suspended-plans&tab=returns-short-term)). And the lowest is at 2.82%. What is the difference? + +If I am not doing apple-to-apple comparison, please point out how? Also, is there are any debt mutual funds which invest in Shriram Finance, Reliance and other corporate debts with returns comparable to the one I shown above? +Did you guys know there was supposed to be a "quarterly cycle" starting today? Of course you did! And so did SHFs! + + +It's laughable that their only way to "win" a battle (against weekly options purchasers, mind you - hodlers are unphased), is to jump through a whole host of regulatory hoops just to subvert the *timing* of this quarterly run-up. They have not, and likely will not, successfully avoid another run-up in the short term (imo pre 2022), they've merely found another way to kick the can. It's the perfect week for them to do it too - there's only half a trading day left this week. + + +How far down the road have they kicked it? Will they cycle actually show up? Honestly, who cares - DRS and NFTs will absolutely fuck this game to oblivion. + + +Apes will register the float over time, it's only a matter of when. + + +Loopring has stated that there WILL be an announcement in Q4. A counterfactual wallet is coming that will enable NFT adoption on a scale never before possible. The NFT marketplace is real, and it's on the way - whether or not a dividend is included is merely icing on the cake. + + +RC is dropping shitpost hints on a regular basis. I'm not waiting for a "quarterly cycle" to force the hedgies liquidation, and neither should you. If GameStop doesn't trigger MOASS, Apes will. + + +Buy, Hold, DRS, Shop! + + +No cell, no sell! + + +[This is the official $GME Megathread for r\/Superstonk.](https://preview.redd.it/gzy9yfftoov71.png?width=778&format=png&auto=webp&s=7ce125aa2d7455f994d74a4192f1a04b7d14448c) + +**Please keep ALL conversations contained to Gamestop and directly related topics.** + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +# Brand new to the sub? Start here! + +***You must read the*** [***Superstonk Rules***](https://www.reddit.com/r/Superstonk/wiki/index/rules) ***before commenting or posting on*** [***r/Superstonk***](https://www.reddit.com/r/Superstonk/)*.* + +https://preview.redd.it/u7nzd0m0pov71.png?width=1651&format=png&auto=webp&s=df5232178c4035ba1c069f9306b30453b42946cd + +The extremely talented and dedicated [u/zedinstead](https://www.reddit.com/u/zedinstead/) has created this beautiful collection of the most important, groundbreaking **D**ue **D**iligence in PDF format that can be easily accessed and shared. If you're looking to familiarize yourself with the GME bull thesis or the underhanded tactics of the short sellers involved in this trade-- then this is for you: + +# [GME.fyi](https://fliphtml5.com/bookcase/kosyg) + +[r/Superstonk](https://www.reddit.com/r/Superstonk/) employs strict posting requirements to ensure our community stays moderately free from trolls and other such bad actors. As such you may find you have trouble posting if you haven't fully read and understood our rules. + +**Posts keep getting removed?** [Find out why.](https://www.reddit.com/r/Superstonk/wiki/index/rules) + +**Not enough** [**karma**](https://www.reddithelp.com/hc/en-us/articles/204511829-What-is-karma-)**?** Here's a [quick guide](https://zapier.com/blog/how-to-get-karma-on-reddit/) on how to get it. + +**Want to learn more?** [Check out our extensive Wiki](https://www.reddit.com/r/Superstonk/wiki/index) and [FAQ](https://www.reddit.com/r/Superstonk/wiki/index/faq) + +**Eager for more even more GameStop info?** [gmedd.com](https://gmedd.com/) is a spectacular resource. + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +# Flair Links + +[📚 Due Diligence](https://old.reddit.com/r/Superstonk/search?q=flair%3A%22%F0%9F%93%9A+Due+Diligence%22&restrict_sr=on&include_over_18=on&sort=relevance&t=all) | [📚 Possible DD](https://old.reddit.com/r/Superstonk/search?q=flair%3A%22%F0%9F%93%9A+Possible+DD%22&restrict_sr=on&include_over_18=on&sort=relevance&t=all) | [💡 Education](https://old.reddit.com/r/Superstonk/search?q=flair%3A%22%F0%9F%92%A1+Education%22&restrict_sr=on&include_over_18=on&sort=relevance&t=all) |[📈 Technical Analysis](https://old.reddit.com/r/Superstonk/search?q=flair%3A%22%F0%9F%93%88+Technical+Analysis%22&restrict_sr=on&include_over_18=on) | [🗣 Discussion / Question](https://old.reddit.com/r/Superstonk/search?q=flair%3A%22%F0%9F%97%A3+Discussion+%2F+Question%22&restrict_sr=on&include_over_18=on) | [🤔 Speculation / Opinion](https://old.reddit.com/r/Superstonk/search?q=flair%3A%22%F0%9F%A4%94+Speculation+%2F+Opinion%22&restrict_sr=on&include_over_18=on&sort=relevance&t=all) | [💻 Computershare](https://old.reddit.com/r/Superstonk/search?q=flair%3A%22%F0%9F%92%BB+Computershare%22&restrict_sr=on&include_over_18=on&sort=relevance&t=all) | [📰 News](https://old.reddit.com/r/Superstonk/search?q=flair%3A%22%F0%9F%93%B0+News%22&restrict_sr=on&include_over_18=on&sort=relevance&t=all) | [🤡 Meme](https://old.reddit.com/r/Superstonk/search?q=flair%3A%22%F0%9F%A4%A1+Meme%22&restrict_sr=on&include_over_18=on&sort=relevance&t=all) | [👽 Shitpost](https://old.reddit.com/r/Superstonk/search?q=flair%3A%22%F0%9F%91%BD+Shitpost%22&restrict_sr=on&include_over_18=on&sort=relevance&t=all) | [📳 Social Media](https://old.reddit.com/r/Superstonk/search?q=flair%3A%22%F0%9F%93%B3Social+Media%22&restrict_sr=on&include_over_18=on&sort=relevance&t=all) | [☁ Hype fluff](https://old.reddit.com/r/Superstonk/search?q=flair%3A%22%E2%98%81+Hype%2F+Fluff%22&restrict_sr=on&include_over_18=on&sort=relevance&t=all) | [HODL 💎🙌](https://old.reddit.com/r/Superstonk/search?q=flair%3A%22HODL+%F0%9F%92%8E%F0%9F%99%8C%22&restrict_sr=on&include_over_18=on&sort=relevance&t=all) + +You can also find the main flairs in the sidebar on New Reddit and under the "About" page on mobile. + +**Mod Flairs** + +[📣 Community Post](https://old.reddit.com/r/Superstonk/search/?q=flair%3A%22%F0%9F%93%A3+Community+Post%22&include_over_18=on&restrict_sr=on&t=all&sort=relevance) | [📆 Daily Discussion](https://old.reddit.com/r/Superstonk/search?q=flair%3A%22%F0%9F%93%86+Daily+Discussion%22&restrict_sr=on&include_over_18=on&sort=relevance&t=all) | [🏆 AMA](https://old.reddit.com/r/Superstonk/search?q=flair%3A%22%F0%9F%8F%86+AMA%22&restrict_sr=on&include_over_18=on&sort=relevance&t=all) | [🚨 Debunked](https://old.reddit.com/r/Superstonk/search?q=flair%3A%22%F0%9F%9A%A8+Debunked%22&restrict_sr=on&include_over_18=on&sort=relevance&t=all) | [📖 Partial Debunk](https://old.reddit.com/r/Superstonk/search?q=flair%3A%22%F0%9F%93%96+Partial+Debunk%22&restrict_sr=on&include_over_18=on) | [🔔 Inconclusive](https://old.reddit.com/r/Superstonk/search?q=flair%3A%22%F0%9F%94%94+Inconclusive%22&restrict_sr=on&include_over_18=on&sort=relevance&t=all) | [⌚ Pending Review](https://old.reddit.com/r/Superstonk/search?q=flair%3A%22%E2%8C%9A+Pending+Review%22&restrict_sr=on&include_over_18=on&sort=relevance&t=all) | [🥴 Misleading Title](https://old.reddit.com/r/Superstonk/search?q=flair%3A%22%F0%9F%A5%B4+Misleading+Title%22) + +**No CS/DRS Mode** + +[New Reddit Filter](https://www.reddit.com/r/Superstonk/search/?q=-flair_text%3A%22%F0%9F%92%BB%20Computershare%22&restrict_sr=1&sr_nsfw=) | [Old Reddit/Mobile Filter](https://old.reddit.com/r/Superstonk/search/?q=-flair_text%3A%22%F0%9F%92%BB%20Computershare%22&restrict_sr=1&sr_nsfw=) + +To filter out CS/DRS posts, click the links above or type `-flair_text:"💻 Computershare"` into the search bar. + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +***What's This Post All About?*** + +The first thing you'll notice is a stickied comment right at the top. We call this the "Front Desk". Every day a moderator will create a new sticky comment that includes links to community announcements, fantastic posts that deserve more attention, and generally the simplest and easiest way to interact with the moderators of this community. The rest of the post is designed for general discussion and content/questions that might not need their own post. + +If you are new please mention that when you comment. There are no stupid questions but "shills" (paid accounts with the intent to disrupt the sub) are real. This community sees a lot of trolls. If you do not distinguish yourself as someone with genuine questions it is likely that members of our community will assume you are just spreading "FUD" (Fear, Uncertainty, and Doubt). I hate that I have to give you this warning but it is just the nature of the beast at this point. + +Please have fun, play nice and be civil. Many of our rules are heavily enforced. Debate is welcome but if it devolves into personal insults please report the comment. *Ape no fight ape!* +&#x200B; + +[With Increased Volume Comes Increased Prices](https://preview.redd.it/em6qdh3pyd5a1.jpg?width=1000&format=pjpg&auto=webp&s=44159d2ed2263ef4e9543c7be1a78d6d5f4ebfff) + +On March 22nd of this year, Ryan Cohen added 100,000 shares of GME at prices from $96.81 to $108.82 (approximately a $10 million dollar add to his position). Adjusted for the split, this equates to adding shares at $24.20 - $27.20. + +Ryan added these shares on a Tuesday (after Thursday earnings). I believe he (and other insiders) can add shares as early as Monday. + +What if I told you that the March buy was the trial run with the plan always targeting this week? Ryan committed $150 million to towel stock/options earlier this year (before reversing course). Imagine if Ryan put $150 million into the stock we all love this week. + +The SHFs tantrum pre-earnings and this past Friday have set the table to make insider purchases even more impactful. + +Buckle Up. Here comes the volume. +Especially in light of the fact that all the other world markets sank. + +I only lost a little on a bear spread, so it’s not an angry question; I’m just baffled and maybe there’s a logical reason behind this massive green move on a day like this. +When I was just starting my real estate investing journey three years ago, I told a few friends and family I was getting in the game. My holdings have increased quite a bit since my first purchase, and I'm not quite comfortable disclosing how many I own nowadays. + +How do you all answer to this sort of question? +Wish I knew about this sooner. Less than 1/10th of the capital requirements of my usual CSP’s and 10% return on capital per trade. + +Any tips for a noob? Currently selling spreads on QQQ a few times a week. +Welcome back to my weekly $100k Wheel Portfolio updates! I'm posting an update video every Friday on my YouTube channel, and we're now on Episode 11! I didn't want to break any community guidelines by linking my channel, but you can find it in my Reddit bio, or by searching "Money Crow" on YouTube. + +I also plan to continue posting this type of update every Monday on r/thetagang. + +I began making trades on September 21st 2020, 73 days ago as of market close 12/3/2020: + +Cash used as Collateral + Cash Balance = + +$107,170 + +Net Liquid Value if I bought back all open contracts = + +$104,658 + +I made 6 trades since Ep.10, and I'm excited to share the progress! + +Screenshots, spreadsheet, and individual updates with a ton of information that I like tracking: + +Ep.11: + +http://imgur.com/gallery/EsbyBLQ + +Ep.10: + +http://imgur.com/gallery/iDtBzHV + +Ep.9: + +http://imgur.com/gallery/7ceJqxn + +Ep.8: + +http://imgur.com/gallery/MChXNRX + +Ep.7: + +http://imgur.com/gallery/7tasiEu + +Ep.6: + +http://imgur.com/gallery/arX40UF + +Ep.5: + +http://imgur.com/gallery/BGs4lqE + +Ep.4: + +https://imgur.com/gallery/nxidYcK + +Ep.3: + +http://imgur.com/a/9lI7T4R + +Ep.2: + +http://imgur.com/gallery/liQPVZ9 + +Ep.1: + +http://imgur.com/gallery/PP9lNH2 + + +As always, I appreciate any comments, questions, and suggestions. Thanks! + + +Here is the spreadsheet template that I use, in case any of you would like to make a copy of it and use it for yourselves. On the 2nd sheet, it also includes a calculator to help you reach annualized target rates. If you encounter any problems, please comment and I will try my best to assist. Also open to suggestions. +https://docs.google.com/spreadsheets/d/1ynGzkCEKH_YXemoHDkaqeBrWUIDHz8reN6O4mt5JMgc/edit?ts=5f7b9661#gid=0 +Guys I thought I understood how to sell a csp. I thought I was supposed to get premium upfront as a sold this and then if anything I would be assigned the shares if this fell to my strike price $95. Can anyone help me and am I fucked. I know I know don’t use options until you know what you’re doing, but I’ve done homework I’ve just never sold csp before. Anyone help is appreciated a lot thanks +Hi guys, +Can someone help me understand why investing in QYLD makes sense and when? Although QYLD provides dividends but QYLD itself is volatile and wouldn't it eat your dividend profits? + +Thanks! +I thought it was a pretty good Yield with the Growth seeming to explode over last couple years and It’s fairly close to its ATH. Was curious what others thought, potential downsides or any other information. I currently mostly have SCHD / DGRO + QQQM and was looking into both ABBV and everyone’s favorite around here O. +How are you wonderful Apes doing on this fine February weekend? As for me, I am sitting here counting down the minutes until another one of those HYPE WEEKS that we all love begins! But before that, I wanted to provide an update on my previous post on Monday 7th, that explored 9 of the WALLS that are closing in on the hedgefucks and could trigger MOASS: + +[https://www.reddit.com/r/Superstonk/comments/smjczz/the\_walls\_are\_closing\_in\_a\_comprehensive\_look\_at/](https://www.reddit.com/r/Superstonk/comments/smjczz/the_walls_are_closing_in_a_comprehensive_look_at/) + +I am actually working on a follow-up DD currently, that has a list of *at least another* 9 such WALLS that could also trigger MOASS. But so much has happened over the last couple of weeks, that I wanted to give an update on what has been happening with the original list of 9. In most cases these WALLS have pushed in further, so relax and HODL as you learn about how Kenny and his buddies are now even closer to Davy Jones' Locker 🏴‍☠️: + +&#x200B; + +**WALL 1: GameStop-Immutable X-Loopring can trigger MOASS by organic growth** + +Any closer now? Absolutely! Robbie Ferguson, the Co-Founder of Immutable X, shared more details about the Gaming NFT platform and it's looking *even more like a game-changer* than when the initial news came out: + +https://preview.redd.it/yvd28lqfkqi81.png?width=688&format=png&auto=webp&s=b750fca9c50ab7d7947dcbf39e00d49e840a059a + +And there are more hints as to how Loopring may also be playing an essential part in the 'triumvirate', with Loopring adding Immutable X's IMX tokens now to their Level 2 Exchange: + +https://preview.redd.it/wjrfoac6lqi81.png?width=568&format=png&auto=webp&s=ba167da4344d431d7fdd7ed9e2e3a590f5637afb + +As for what part exactly Loopring may bring to the table, [u/DrinkDrPepperSpray](https://www.reddit.com/user/DrinkDrPepperSpray/) presented this tit-jacking snippet of info to us: + +https://preview.redd.it/foj6bghxqqi81.png?width=698&format=png&auto=webp&s=19818067a1b68a6cf9a730458ac003919b0a67f9 + +It is no wonder then that, as we await the official announcement of the exact details of the partnership, Byron Wiebe (Head of Community at Loopring) tweeted the following: + +https://preview.redd.it/yocpjhvhrqi81.png?width=624&format=png&auto=webp&s=92e7c3e4ab67e67239455477c02c13951285d404 + +I anticipate the organic growth will accelerate once everything is publicised, meaning this particular WALL towards MOASS will also start speeding up with it! And when could it go public? + +https://preview.redd.it/se2nv9h8uqi81.png?width=577&format=png&auto=webp&s=0f573922561c9fdc7704e16c5e2dc968323c8109 + +If the deadlne is 21/2/22, then I guess 22/2/22 looks like a potentially fun date to launch something... + +&#x200B; + +**WALL 2: GameStop has the technical means to proivde shareholders with an NFT-based dividend, the issuance of which would trigger MOASS** + +No news that I am aware of in these last couple of weeks, specifically related to this particular WALL. However I do want to share a *very* intriguing [comment](https://www.reddit.com/r/Superstonk/comments/smjczz/comment/hvyc0mu/?utm_source=share&utm_medium=web2x&context=3) that u/Wolfguarde_ made in response to my first post: + +https://preview.redd.it/k3m7vexfsqi81.png?width=645&format=png&auto=webp&s=84698d5ed18c68cb7c4bb34a63329e718f9f9532 + +Purely speculation, of course, but it is a quite compelling concept. One that very feasibly GameStop could utilise, to prevent the possibility of an NFT-based dividend being set a cash value by nefarious brokers, in order to help out their short hedgefund cronies. The issuance of an NFT dividend carries with it many unknowns, not just attempts to place equivaltent cash values but also lawsuits. The most famous digital dividend so far was that issued by Overstock in 2020, although as I [reported](https://www.reddit.com/r/Superstonk/comments/ptvq89/the_overstock_court_ruling_in_utah_yesterday/) below about half a year back, it did result in a long and costly lawsuit launched by the hedgies against that company: + +https://preview.redd.it/dv78m0vuusi81.png?width=629&format=png&auto=webp&s=7dab02c892c7e081904c286f149e0a2d7067e3e0 + +https://preview.redd.it/o8tc24g7vsi81.png?width=437&format=png&auto=webp&s=3acab4e787d62d39efa4138e49b3ee22b7a5f472 + +Overstock ultimately won the ruling, and as I detailed in the post, the case has set an important "with prejudice" precedent now. However no doubt GameStop would still have considerable wariness to issue an NFT dividend, due to the potential legal threats that could ensue. However mechanisms such as the one described above by u/Wolfguarde_, which are almost a gamification of the process and would be utilising the technology of their partner Immutable X, would make such legal action more difficult. I certainly hope that if GameStop do issue a dividend, it is in a form such as this because the shorts would then be left miserably powerless to follow any courses of action to prevent MOASS. + +&#x200B; + +**WALL 3: The 10-K filings** ***hinted*** **that a MOASS triggering share recall may be possible, but the partnership could provide the technical means to achieve this too** + +Check Byron's tweet shown in the follow-up about Wall 1 above. Is it even possible to be *"re-architecting the global financial infrastructure"* without contemplating leaving that old infrastructure behind altogether...? + +&#x200B; + +**WALL 4: GameStop spins off the NFT division to create a new company, a path which could lead to MOASS by facilitating a full share count/audit** + +[u/bloodshot\_blinkers](https://www.reddit.com/user/bloodshot_blinkers/) publised an extensive post on this just a couple of days ago, where they already [called it now](https://www.reddit.com/r/Superstonk/comments/sua3fk/gmerica_a_spinoff_company_of_gamestop_and_the/): + +https://preview.redd.it/0f0l9gcvvqi81.png?width=673&format=png&auto=webp&s=6288b0b973c1050105cf0df34edeca3cb77c312b + +Who am I to disagree with such bold predictions? 🍌 + +&#x200B; + +**WALL 5: SEC Proposed Rule 87 FR 6652 prevents continued use of Swaps to hold back MOASS** + +There is still time to provide comments in favour of this critical rule, as it is open to public comments until March 21st. Gary Gensler himself has tweeted a reminder that this, amongst a few other proposals, can still have arguments in favour submitted: + +https://preview.redd.it/jjwikivswqi81.png?width=580&format=png&auto=webp&s=bbcceb724874dbe386ce518fbe5ea61520d74fd6 + +Give the man what he's asking for: [https://www.sec.gov/regulatory-actions/how-to-submit-comments](https://www.sec.gov/regulatory-actions/how-to-submit-comments) + +&#x200B; + +**WALL 6: SEC and DoJ investigation could lead to SHFs being shut down, their short positions being force closed, and thus potentially leading to the MOASS** + +This has certainly been the talk of Superstonk town in the last few days, as the DoJ investigation seems to be hotting up! There have been plenty of posts about how the trail has gone from the smaller hedge funds and now up the food chain, including to the likes of huge Prime Brokers such as Morgan Stanley, as [shared](https://www.reddit.com/r/Superstonk/comments/suw4le/bloomberg_216_in_case_you_missed_itlets_keep_the/) by [u/Caicosblue](https://www.reddit.com/user/Caicosblue/): + +https://preview.redd.it/5ki8axy7yqi81.png?width=700&format=png&auto=webp&s=3905dbc8f9ca05f558eebd99b7e46eb8cf09161e + +But certainly the biggest of the news is that Citadel, or at the very least some of their employees, are also being questioned now as part of the investigation. This was [broken](https://www.reddit.com/r/Superstonk/comments/sv88c0/citadel_securities_officially_named_in_doj_probe/) to the sub by u/demoncase: + +https://preview.redd.it/mn1a9adsyqi81.png?width=697&format=png&auto=webp&s=a9894060362e0e8b93d6a0ed7558c41e53248d8e + +The investigation seems to have a lot of moving parts, with the [latest](https://money.usnews.com/investing/news/articles/2022-02-18/u-s-prosecutors-explore-racketeering-charges-in-short-seller-probe-sources?src=usn_rd) story being the possibility to even press charges of racketeering under the RICO Act: + +https://preview.redd.it/q7xdtdriysi81.png?width=782&format=png&auto=webp&s=8c7922aaceed5dcdcce33cde83f89880d4df06be + +Of course this particular WALL may still have a way to go before leading to any concrete action by the DoJ, but I do concur with the general [sentiment](https://www.reddit.com/r/Superstonk/comments/svnihd/anti_fud_doj_investigation_of_citadel_and_shfs_is/) that [u/SchroedengersCat88](https://www.reddit.com/user/SchroedengersCat88/) shared in his post very recently: + +https://preview.redd.it/xs8c6n1izqi81.png?width=700&format=png&auto=webp&s=f2b88507182d610c2379ed8576b09b27b4b51dee + +What cannot be denied is that this particular WALL continues to be pushing in at the shorts every single day now. The possibility of one or more of the bad actors being ensnared and shut down, thereby forced to close their short positions, and thus triggering a domino effect that leads to MOASS continues to grow. + +&#x200B; + +**WALL 7: Shorting is becoming both difficult to carry out and a LOT more expensive than even a couple of weeks ago** + +The Cost to Borrow has been fluctuating up and down, but the "highs" are certainly getting higher. An example was set on the 8th, as shown in this [post](https://www.reddit.com/r/Superstonk/comments/snul33/ortex_maximim_cost_to_borrow_almost_at_11/?utm_medium=android_app&utm_source=share) by [u/Bananito\_To\_The\_Moon](https://www.reddit.com/user/Bananito_To_The_Moon/) on Tuesday 8th: + +https://preview.redd.it/mul1lnwzksi81.png?width=706&format=png&auto=webp&s=4b76f75c0bbc1770575ed300892eb429d2c5be7b + +It would not surprise me in the least if CTB continues to have high volatility, before potentially shooting up to a level where the SHF with the least capital cannot afford to stay in the game any longer. The result? Potentially another one of those dominoe effects that could trigger MOASS at some point. + +&#x200B; + +**WALL 8: Utilisation approaching 100% again - something that last happened in January 2021** + +[u/Fantasybroke](https://www.reddit.com/user/Fantasybroke/) has been updating us with daily posts about this, and as of Friday 18th it is now 9 days of being at 100% utilisation: + +https://preview.redd.it/abx15zsy0ri81.png?width=585&format=png&auto=webp&s=36e6f7aaeb7a2d66486db15a19e82a5a0ff49d20 + +When utilisation reached 100% back in September 2020 (not longer after RC bought in), it took about two weeks before the squeeze that commenced in the January "Sneeze" started. If this level of utilisation continues, personally I think it will only be a matter of time before another consistent increase in the share price also continues. And at some point, that may well lead to the weakest of the SHFs on the wrong side of this trade receiving that long awaited call from Marge. + +&#x200B; + +**WALL 9: Ortex Short Squeeze Signal flared again...** + +Finally in this section looking at the previously identified WALLS, I posted on [10th February](https://www.reddit.com/r/Superstonk/comments/sp9pc2/ortex_short_squeeze_signal_flared_up_again_this/) how this signal flared for a *second* time and the significance of this: + +https://preview.redd.it/35k1sgtr1ri81.png?width=642&format=png&auto=webp&s=85c75507417ae74500d0c125fbbfb1ec574e5c8e + +If this signal flares again soon for a *third* time in quick succession, I am definitely going to tighten my seat belt even harder... + +&#x200B; + +**TL;DR** + +The 9 WALLS that I previously posted as closing in from all angles on the hedgies, have continued to squeeze in over the last couple of weeks. What's more, there are at least **another 9 WALLS** that I have *also* identified in addition to these as well! Stay tuned for another update in this WALLS series, as I look into yet more ways that hedgies r well and truly fukd. + +&#x200B; + +**Shameless Plug...** + +Some of you beautiful primates may know me as the Ape behind the **"Planet of the Apes"** [posts](https://www.reddit.com/r/Superstonk/comments/rr82up/planet_of_the_apes_2021_endofyear_update_members/): + +https://preview.redd.it/vozhmcllpsi81.png?width=663&format=png&auto=webp&s=4a37a5bb025db2eadcb2295821999bcbc8d1e2b3 + +Since my last update at the end of last year, I have received a few messages from Apes in places whose flags are not represented on the above image. Granted, all our national flags have now been outdone by the one true flag to rule over them all: + +https://preview.redd.it/fm0lt7umqsi81.png?width=382&format=png&auto=webp&s=1fb687b93886430ced6b6914365d72131fffa144 + +But I still intend to post a Spring Update to this series in a few weeks from now, and want to make sure there is even wider global representation. So, if you are a Superstonker who cannot find their flag in the image above, please reply with a comment (or if you are a lurker lacking the karma, then send me a direct message). Hopefully this post can get enough upvotes that some Apes in the places not coloured green on my map can see it and respond! + +https://preview.redd.it/w531vkwjrsi81.png?width=1704&format=png&auto=webp&s=834a6af46dab067ebb1938d211cc10eeeaa2d460 +Here's a link to the story, which makes a pretty solid case for the fraud behind bitcoins current boom and impending burst: https://medium.com/@bitfinexed/are-fraudulent-tethers-being-used-for-margin-lending-on-bitfinex-5de9dd80f330 +Started in October 2017, thought I was late (everybody does), did it anyway. I'm buying every month and updating the charts. I kinda had a vision I will stack myself to million dollars (and euros eventually). The longer my journey has been, the more realistic this aim is getting. I'm documenting this stuff in this blog. Hope it will give you inspiration to do something similar. Don't feel depressed if you 'cannot get a full coin' or some other amount of Bitcoin because 'the price is already too high'. I can tell you I wanted to have 10 coins (in 2017) but I immediately realised its gonna be impossible with my salary. So what? I started stacking the best I can. You can stack the best you can. The outcome will always be better than if you never start stacking. Love yourself, stack some sats! + +[https://er-bybitcoin.com/stacking-em-volume-17-december-2021/](https://er-bybitcoin.com/stacking-em-volume-17-december-2021/) +I'm currently making about $4300/month. With tax, insurance, and some other cut that my employer take - I'm taking $3000/month. My rent is $875. I paid $70 for water, since my roommate moved my water bill from $20/month increased to $70/month. I have no idea what she is doing at home. And my electric bill is from $130/month in the winter to $300/month in summer time since she moved. It blew my mind how much electricity and water she is using. I'm not home a lot. And she is home 24/7. Because she doesn't work and she also doing her study from home basically. I usually spend about $200-$300/month for groceries. Now I spend $500/month. For entertainment I spend about $150. I also send money to my mom. After my dad died, I help for his funeral. It just from there I become broke and broke because I have to use my saving for my dad funeral and my sick mom. I'm taking more debt and I can't barely saving anything now. I decided to do fasting because I can save more money, not only I lost bunch of weight from not eating. I also spend it on something stupid like making sure there are coffee, creamer, and some other groceries so my roommate can have some things she can use. + +I like to buy expensive good food, because I'm just by myself. And I don't really eat that much. + +I was able to paid off some of my credit card bill before she moved in with me. And now, I just kept on adding new credit card bill into my account. She gave me $200-$300/month. And that's not enough. I told her that I will help her out until she finish with school last August as she was mentioning. +But things falling apart on her end, she has to stayed until December now. +I don't know how to save money anymore. +I barely can pay my credit card bill now and I got a new car because I had an accident and my ex husband to be not letting me to sell my old one because he said it is still part of the martial assets. Which is make sense. He was also asking for $500 alimony from me while I'm struggling with my financial filling up my apartment. +He didn't let me take anything from my house. Not even a bed or blanket. I was sleeping on air mattress for couple weeks in the winter time. And decided to buy super cheap bed that causing me more back problem and more medical expenses on my end. + +I didn't even have any cooking ware, utensils, or plates and glass. I was using all papers until I can afford it. +I have all of that now. I have all this credit card debt because I have to fill my apartment so I can have things to use for cooking, couch, bed, TV and all the things comes with it, and also just some regular thing you need for a house. + +I honestly don't know what to do. I have lawyer bill to pay that kept on adding as my ex told me that I don't deserve any money because I decided to leave. All my hard work for 7 years didn't mean anything for him. + +I'm paying about $500/month for my credit card bill. That is the minimum payment. +What should I do now? +I can cut more on my groceries probably. And just drink my protein shake. Will that be healthy enough? +And I have a dog now. I adopted her a month ago. More expenses on my side, because my and my ex have a dogs together. But he just won't stop harrasing me and sending me letter everytime I picked my dogs from him. + +I have more medical expenses as well. Because I'm seeing therapist, psychiatrist, and my regular doctor so I don't kill myself with all the things that happened in my life. + +Can someone help me out planning my financial? +I'm so depressed right now. I don't know how to handle all this financial stress. +I have been trying to save money. But it's been harder lately. +Hello all, + +I really thought we would encounter at least some greater real world usage by now, but atm we only have ponzi like DeFi Apps, NFT that suck all the "usage" and copycats all over the place. I seriously thought crypto would have a better impact by now or at least some useful usage, kinda disappointed. + +Most tokens feel so useless, a lot are just made for governance, but really how is that decentralized? A centralized system where everyone can only vote once is way more fair than a decentralized governance where the biggest whales dictate everything. + +And if they are not only made for governance, they are made for staking/farming aka ponzi like tactics, which is very short term. Most of the DeFi apps can function well without the token and just use the native token they operate on, but the team behind it just wants to milk as much as possible so they create a token and give high APY to make it "useful". High APY where they give the same token you stake is never going to end well. Don't ever hold these tokens long term. + +Then we have all the copycats. If you have one dApp or chain that's "successful", everyone is copycatting it. Just look at the amount of EVM compatible smart contract chains, it's getting out of hand. Or STEPN which attracted a decent chunk of users, got copied straight after and so many more examples... + +Pretty much all smart contact chains have the same dApps trying to milk every DeFi user there is. Most unique dApps still come from Ethereum and they all get copied to the cheaper chains. + +Crypto projects like STEPN are P2E games, all these games are made for short term. Enjoy the gains while it lasts, because the unlimited high emission is going to kill every P2E game. They also attract a TON of bots, so you pretty much are competing with perfect human like players. + +Then we have countries that are pretty much dictatorships that "adopt" bitcoin, while in reality they just buy bitcoin with the money they steal from their country. Statistics already show these countries aren't adopting bitcoin in anyway. Also very funny how you see a posts here in front page about some house being sold for BTC for the first time in a country. Like really? Bitcoin has been around for so long and we are proud because of one single private transaction? Lmao. + +So really, what did crypto achieve that's really something to show off with? Curious to see others opinion. +Edit: thanks to everyone who responded! This community is actually helpful and I appreciate it. I will not be using a debit card ever again and will be calling my bank when the charge goes through 🫡 + +I immediately showed the charge on my card to the bartenders and they got the manager. The original bartender who took my order took my card never had me sign anything or gave me a receipt, handed the card back to me, then ignored me to take several other orders (it was super crowded). The manager was intoxicated I'm pretty sure and told me "we will fix it, what's the name on your card?" They couldn't find it in the system. He told me "that must mean they already cancelled it so no worries, plus it's just pending so it's not actually out. Don't worry my computer guy is coming". Then the manager disappears and does not help me further basically saying oh well. + +I wake up today to another charge on that card from *today* for that bar for $45. I did not make a second charge with this card (considering they literally overdrafted me the last time I used it). + +What can I do here? I am already dealing with a dispute from a hotel on my credit card, is having two disputes going on SUS? How do I get my now $300+ for my single vodka Red Bull back?? I know I can contact the bar again but they were so unhelpful last night that I feel they will be useless. I was not drunk and I had 6 friends with me as "witnesses" and none of them got overcharged. + +It is still in pending so theres a chance this gets taken off I guess but I'm just trying to think of what I should do next and freaking out a bit :') +The last weeks I’ve read a lot of people talking about Europe’s gas problem especially Germany. Let me clarify a few things for you: + +First of all the basics since most of you don’t know: + +**Germany is located in the center of Europe**. It’s that one place that you’ve probably seen on a map in your history class about world war 2. Yea the one with the *cross symbol*. + +Secondly since **we will all freeze like in Russia:** + +Germany has mild winters. There’s rarely snow in the majority of the country. It’s usually between 0-10C ( **~30-50 Freedom units** ) + +Let’s talk about gas price. Yes it went up. But did you know that even tho we are europoors we actually aren’t THAT poor? It’ll go up for me for example 70€/month. That’s 70$. + +And since we talk about money Germany is rank #4 when it comes to GDP. And we also have something called “a social program” + +I KNOW! Scary words! But let me explain! In the worst case scenario the government actually *cares* about the less fortunate and helps them with money. So even if you can’t afford gas you probably will end up getting support and still be able to pay! Sounds ridiculous I know but shit works. + +I really appreciate that you care this much about our well being but things are really not looking as bad as some might think. Probably because the last time you heard about a Europe crisis Germany was also a major topic but I promise it’s different this time! + +Yours, + +Friendly German + +Edit: The meme hit the front page? Time to get the popcorn and sort by controversial lmao +Two months ago, I ran what I thought was a fool proof strategy on selling far expiry TSLA cash secured puts. The sheer number of replies and private messages warning me not to do this, was mind blowing. If I did not take your advice, I would have essentially been facing bankruptcy. Thanks to this community for looking out for a random dumb internet stranger. Learnt more here, than from my friends who kept telling me, “TSLA stonks are ridiculously undervalued”. Appreciate all the support here for naive investors. +[https://prime.economictimes.indiatimes.com/news/72699376/fintech-and-bfsi/im-on-the-verge-of-losing-my-money-kredx-investors-cry-flawed-ratings-foggy-practices](https://prime.economictimes.indiatimes.com/news/72699376/fintech-and-bfsi/im-on-the-verge-of-losing-my-money-kredx-investors-cry-flawed-ratings-foggy-practices) + +It seems the risks of investing in bill-discounting has caught up with investors, what's more concerning are the allegations of understating risks and misselling. + +&#x200B; + +Link for those without an ETprime subscription - [Article Link](https://drive.google.com/file/d/1vzuuReGnvphGL3Os3c_pBFe8npsIont4/view?usp=sharing) +Starting April 2022, EPF+VPF contributions above 2.5L per finyear is gonna attract taxes. + +My employee+employer contribution is about 70k per month (12% of basic salary). About 8.4L per year go to my PF account. + +How is the tax calculated on this? Flat 30% on 8.4L or 30% on (8.4-2.5)L? +How does an average blue collar worker on 75k (me by the way) buy a property in these bigger metropolitan areas. I was just having a look on realestate.com at the average house price in these cities and it’s ridiculous for what you’re getting. + +In North Queensland (where I’m from) a 1mil property will get you up on top of hill with an uninterrupted view of the ocean, beach access, a huge pool, gated community, green grass, palm trees galore and somewhere between 5-6 bedrooms. In Syd or Mel, that sort of money is just your average unit/townhouse. + +So my questions are; + +1. Are average/median income earners (like myself) buying or renting in these cities?? + +And 2. When people are on something below $90,000 per annum with a deposit for a property of something between 900k and 1mil, are the banks approving them for loans even tho their salary is only around 8-10% of the cost of a property worth somewhere between 900k-1mil?? + +Apologies if these questions sound a bit confusing +So it’s been around 3 months since I’ve paid my electricity bill. It’s around 200 dollars now. I know this doesn’t seem like much but when you’re as poor as me 200 feels like 20,000. I won’t be able to pay it because I am just barely even keeping up with my rent payments. I’m one month behind on rent so I’ve been trying to play catch up. So when will my power get cut off? I just don’t want it to be a surprise. +Whilst I don’t think she has the greatest command of economics I find her journey quite interesting. + +- aspiring first home buyer +- despair at the system and how hard it is to buy competing with investors +- finally buying an apartment after adjusting her search +- probably thinking she bought the top when Covid hit +- experiencing equity gains and exploring investment opportunities +- deciding property is most appealing due to leverage +- now seeking to become a property investor +- recognises the irony of person position now but still supports reform of the system + +It’s almost like the transformation is complete. It resonates with me as I went on a similar journey. + +Where ever you are on it recognise you’re on a journey and don’t despair. + +[link to article](https://www.smh.com.au/money/investing/i-d-hate-me-too-why-i-ve-decided-to-become-a-property-investor-20210916-p58s1p.html) +Guten Morgen to all of you Great Apes around the world! 👋🦍 + +As of today, GME is officially part of the S&P MidCap 400! You may have noticed the absolute ridiculousness in the last few minutes of trading yesterday - clearly there was some manipulation happening. We've known this of course, but it's always so helpful to have the daily confirmation. I applaud the strength of our collective Diamantenhände through all of these psychological attacks. The short hedge funds know that time is running out, and they have been steadily trying to shake us, to make us distrust each other, to make us question the very thesis behind the MOASS. + +It won't work. We know the DD is solid. GameStop has completely reversed course over the past year, and today is a stronger company than ever, with huge opportunities for growth and the leadership and resources to capitalize on them. The MOASS is inevitable, and Apes will be ready when it does. + +Today is Wednesday, August 4th, and of course you know what that means! Join other apes around the world to watch low-frequency updates from the German markets! + +###🚀 Buckle Up! 🚀 +*** + + +- 🟥 120 minutes in: **$154.62 / 130,12 €** *(volume: 1451)* +- 🟩 115 minutes in: $155.36 / 130,75 € *(volume: 1430)* +- 🟥 110 minutes in: $154.71 / 130,20 € *(volume: 1332)* +- 🟥 105 minutes in: $154.84 / 130,31 € *(volume: 1313)* +- 🟥 100 minutes in: $155.60 / 130,95 € *(volume: 1286)* +- 🟥 95 minutes in: $155.91 / 131,21 € *(volume: 1107)* +- 🟥 90 minutes in: $155.93 / 131,22 € *(volume: 1074)* +- 🟥 85 minutes in: $156.43 / 131,65 € *(volume: 1046)* +- 🟩 80 minutes in: $157.29 / 132,38 € *(volume: 985)* +- 🟥 75 minutes in: $157.04 / 132,16 € *(volume: 959)* +- 🟩 70 minutes in: $157.62 / 132,65 € *(volume: 911)* +- 🟩 65 minutes in: $153.60 / 129,26 € *(volume: 714)* +- 🟩 60 minutes in: $153.14 / 128,88 € *(volume: 633)* +- ⬜ 55 minutes in: $153.08 / 128,82 € *(volume: 525)* +- 🟩 50 minutes in: $153.08 / 128,82 € *(volume: 402)* +- ⬜ 45 minutes in: $153.02 / 128,78 € *(volume: 389)* +- ⬜ 40 minutes in: $153.02 / 128,78 € *(volume: 370)* +- ⬜ 35 minutes in: $153.02 / 128,78 € *(volume: 327)* +- ⬜ 30 minutes in: $153.02 / 128,78 € *(volume: 277)* +- 🟩 25 minutes in: $153.02 / 128,78 € *(volume: 186)* +- 🟥 20 minutes in: $152.96 / 128,72 € *(volume: 186)* +- 🟩 15 minutes in: $153.02 / 128,78 € *(volume: 91)* +- ⬜ 10 minutes in: $152.96 / 128,72 € *(volume: 58)* +- ⬜ 5 minutes in: $152.96 / 128,72 € *(volume: 54)* +- 🟩 0 minutes in: $152.96 / 128,72 € *(volume: 43)* +- 🟥 US close price: $152.75 / 128,55 € *($152.80 / 128,59 € after-hours)* + + +*** +FAQ: I'm capturing current price and volume data from German exchanges and converting to USD. Today's euro -> USD conversion ratio is 1.18824964. I wrote and maintain a C# application that assists me in fetching this data and updating the post. If you'd like to check current prices directly, you can check [Lang & Schwarz](https://www.ls-tc.de/de/aktie/gamestop-aktie) or [TradeGate](https://www.tradegate.de/orderbuch.php?isin=US36467W1099) + +I've asked u/thecactusblender to cover a few days later this week when I am not certain I'd be able to run this thread. Thank you so much to them for stepping in to help! + +Diamantenhände isn't just a thread on Superstonk, it's a community that gathers daily to represent the many corners of this world who love this stock. We all love seeing the energy that people represent their varied homelands. Show your flags, share some culture, and unite around GME! +No one on BSC is making the progress the BogTools development team is doing right now. The product is unique, the tokenomics are sound and it will revolutionise the way people interact with all BSC tokens and decentralised exchanges. + +I think it's worthwhile clarifying that I'm no big player, I am a small bag holder when it comes to $BOG, or any crypto in general. My nominal profits when this project skyrockets (when, not if) will not be life-changing, however I consider myself responsible to amplify the huge potential I saw in this project to anyone looking to invest their money into something that can easily use its own technological capabilities to promote itself. + +# What is BogTools? + +**BogTools** is a BSC smart contract which provides decentralised on-chain oracles and code execution on the BSC blockchain. Every transaction of of the project's native token, $BOG, prompts the smart contract to execute commands on the BSC network based on information acquired from the transactions. + +To put it simply, BogTools can be used by anyone, both retail investors and developers, for different but equally promising functions. A great example of this is BogCharts. + +**BogCharts** uses the BogTools oracles which provide live price updates to create live price charts. These charts are truly live, as the price information comes straight from the blockchain, removing the middle man, and can be used completely for free by retail investors, contrary to many existing services which either lag behind the true price, or charge a fee for retail investors to use their service or even both. BogCharts can be deployed by BSC coin developers who will pay a fee for the service in the native currency, $BOG, supporting the $BOG ecosystem. + +**BogLimit** is a BogTools project that has huge potential for BSC, as it will allow users to place limit orders on BSC decentralised exchanges (PancakeSwap, etc.), again using the fool-proof BogTools oracles for price updates, ensuring that the limit trade order actually goes through and is not missed due to irregularities in price tracking. + +**BogRNG** (RNG: Random Number Generation) can be used for deploying ARGs, casino games and lotteries. BogRNG uses an off-chain function as a mechanism to hash and compare a randomness request made by a user with the number that is already stored on-chain to make sure that the whole process is truly random and fair. + +**NFT - ARG**: The project has already seen its first ARG (Alternate Reality Game) on [bogged.finance](https://bogged.finance) which included the generation of a shame token, $NGMI, issued to anyone who sold a share of their $BOG holdings. This token is non-tradable from the user's wallet and acts as a disadvantage for the next stage ($NGMI holder has 20% chance of losing their NFT, Sminem) and possibly for future ARG endeavours of the project. + +A brand-new native NFT marketplace will be launching very soon. The first set of 500 exclusive NFTs were distributed among $BOG stakers which in the upcoming days will be submitting their designs for their custom NFT, Sminem. The developers plan on making the NFTs released under BogTools useable, whether that be gamifying them (collectibles that can be used in on-chain deployed video-games) or even giving discounts to products and exclusive access to $BOG-related websited to NFT holders. + +TL;DR, BogTools is a smart contract platform with the potential to become mainstream on BSC, bound to attract attention from [big players](https://twitter.com/cz_binance) in the crypto space. + +# This sounds complicated, what's in it for me? + +Every piece of technology developed by the BogTools team is in one way or another designed to be beneficial to give the $BOG holder privilege over others. Essentially, by buying $BOG you are supporting a project whose main goal is to offer holders an **easy, useable** and **fun** experience in the crypto world, while also having immense potential for profits to be made. + +# Who are the developers? Who are the competitors? Are funds safu? + +The initial liquidity has been locked in a contract on BSC for a minimum period of 6 months, this contract can be viewed [here](https://bscscan.com/address/0x7f8a7e4b7066790fcec0ab13bbf935c647236293). Also, $BOG's contract is open source and readily available for anyone to inspect [here](https://bscscan.com/token/0xd7b729ef857aa773f47d37088a1181bb3fbf0099#readContract). + +There are 2 co-founders and one contracted developer working for BogTools at the moment. One of the co-founders is fully doxxed, his name is Luke Martinez and you can find him on [Twitter](https://twitter.com/LukeBogTools), LinkedIn or in the BogTools Telegram and Discord. All 3 of the developers are very active, both on Telegram and on Discord and give constant updates on new features, when they are expected to be deployed and are always on the look-out for community feedback. An very recent example includes the process of choosing the new logo for the project's website scheduled to launch this weekend, [BogTools.io](https://BogTools.io). + +$BOG's main competitor is Berry Data ($BRY). They have an \~4 times larger market cap at around $15M, they have been around for more than twice the time $BOG has been around and are only just now releasing their first product. The fact that the token's contract is almost identical to the contract of an ERC-20 token's contract sets the $BOG dev team even further ahead from their competitors; they have developed the project's infrastructure from the ground up and have asked for the opinion of the community for a lot of decisions so far. + +TL;DR, funds are safu. + +# This is all I really care about, when moon? + +$BOG is not even 2 weeks old. Its initial supply was set to 2,500,000 BOG. All transactions incur a 4.5% fee: 4.4% is redistributed to the $BOG stakers and 0.1% is burned, which has brought the current supply down to about 2,380,000 BOG (the fees are bound to be reduced as the project develops). + +It's current market cap is less than $3.5M and its price is \~$1.43, which imho makes it insanely undervalued for its potential. I first got involved at about $0.60 already thinking I was late to the party, but if you consider the market cap value that other projects on BSC reach without even having a useable product, + +I can easily see this doing a 20-50x, in the **short-mid term**. with far greater expectations for the long-term. If I'm going to be honest, half of the coins created on BSC don't even last a month and the vast majority of the ones that last for longer do not have the technology to back their value; enter BogTools. + +TL;DR, moon soon. + +&#x200B; + +Tech aside, one of the things I really appreciate about $BOG is that its community is far more positive and helpful than any other small market cap coin community I've been in before, and if you have been on small market cap coin Telegram groups you know what I'm talking about. + +# How do I get involved? + +You can follow the main [Twitter account](https://twitter.com/bogtools), read the [lightpaper](https://boggedfinance.medium.com/the-bogged-protocol-lightpaper-16c7394e250f), the [press release](https://pastebin.com/ApskT8LU) and definitely join the Telegram and the Discord channels (links on [bogged.finance](https://bogged.finance)). + +Also, there are guides on [how to buy](https://imgur.com/a/xKRwCIN) and [how to stake](https://imgur.com/FJmLvDq) $BOG. Before staking, I'd suggest you do some research on what impermanent loss is and how it can affect your money. + +&#x200B; + +This is a very, very exciting project and I think it's pretty obvious why. +Hi, I am Lucas, I am 14 and I have wanted to invest for about a year and a half. Last night I got Stockpile, which allows you to buy fraction stocks. Right now I have enough to buy about 1.58% of a share, not 1.58 shares. Would this be a smart investment? I plan to put much more money when I get it. Amazon Stock has grown a LOT. Also I don't wanna hear shit about crypto here, just saying. +SHF didn't close at $40 pre-split ($10 now) and they aren't going to close if it hits $10. As Mark Cuban told us from beginning, their goal is to never close. More shares are owned by retail today than when the price hit $40 pre-split. + +Sure some people sold over the last 2 years but if you look at every daily retail broker chart published (like Fidelity) and every monthly retail buy/sell ratio charts from the EU, GameStop consistently has more retail buys than sells by a large margin. It's safe to assume this is the case across all brokers who service retail investors. Retail positions have grown and will continue to grow, regardless of the price. + +Let's also look at the daily reported short volume, which is currently at 70% over the last 30 days and has been around 60-65% since the sneeze. If shorts are covering positions with more shorts, then they aren't really covering, they are 'can kicking" and the problem is compounding. Opening new short positions to drive the price down to try and close out old short positions, still leaves them with a short position and because the shares they created to open the new short position didn't come from a long-term holder, a DRS holder or a retail holder, they have now added even more synthetic shares. + +However, there is a major difference this time compared to the last time the prices were hammered down. This time, in addition to more retail strength, the liquidity pool has shrunk, GameStop has cash reserves, is on the cusp of profitablity, solid inventory, is reducing expenses and looking for acquisition opportunities. + +To make it even worse for SHF, GameStop could announce a NFT dividend at any time! That thought alone has to scare anyone short GME. Their only play is to try and get old investors to sell and prevent new investors from buying. All these people fleeing Tesla and crypto are looking for a place to put their money and SHF don't want them looking our direction. They need GME to look like a bad investment to stay in and a bad one to get into if you haven't already. + +So just remember, the price is fake, shorts are in the worst position they have ever been in and we likely won't ever see $40 pre-split again but if we do, shorts still won't close and retail will continue to buy. + +As for me, I didn't sell at $350 pre-split, I didn't sell at $40 pre-split and I won't sell today (in fact I bought 100 more yesterday). I'm almost 50 and if I retire in 10yrs, my life wouldn't change if everything I have invested into GME is lost, but if MOASS hits before I retire, the lives of my entire family changes. True generational wealth! This is my chance to make a difference for me, my family and for everyone else who is being robbed by Wall Street every single day. I'm not leaving! + +The price is fake. Buy, hold, DRS and stay zen. +Hi everyone. I’m a machine learning researcher currently looking into use cases of deep learning in financial simulations. I thought I would share some thoughts: + +Consider the following: + +https://imgur.com/a/y5EwdaO + +The above post shows two sets of simulations. They are around the AAPL stock (the actual value of the stock is the thick white line) over the same time period. The colorful trajectories in the back are all the simulations (1500 of them). The projections are forecasted from March 1st, 2020 + +Notice how the one that was guided by the deep network is better able to center the stock and capture its spread. This model helps predict a “wider” interval if the stock is more volatile and a narrower interval if not + +I’m not sure how interested people are in this, but I could share some more information if anyone would like! +Back in 2013 when the entire market cap hit $1 Billion for the first time, it was really scary to put a considerable amount of money in BTC. You might like Bitcoin and find it interesting but doubt would still creep up in your mind about its staying power and the fact that one bug could bring it all down. Mt. Gox got hacked, 800,000 BTC stolen, it crashed from $1200 to $190 by 2015, so how do you even believe that 5 years later it would be a sustained $200+ billion market? Yet here we are. + +As long as the Bitcoin blockchain is churning out new blocks of unstoppable transactions, that's all that matters. Naysayers don't understand that this is all Bitcoin needs to do: Churn out new blocks every ten minutes. And with every new block, a monumental amount of energy and work is stacked on top of the previous block, and so on, and so forth, making it stronger. [At 99.98% uptime for 11 years](https://www.buybitcoinworldwide.com/bitcoin-uptime/), it's sticky enough to now [last much longer than that](https://en.wikipedia.org/wiki/Lindy_effect). This network will be transferring and storing trillions of dollars within this decade and beyond. +So basically, my mom passed away when I was 16 and I've been on my own ever since. I've had zero real world financial guidance as my mom was sick through my teens and she was a single mom of 2 kids. I couldn't keep up with bills and used credit cards to survive for a couple years. I've always only been able to afford the minimum payments so I've never really made headway paying them off. I was okay like that for a bit until I took a huge pay cut and couldn't make it anymore. I took out several payday loans over the last year and am in way over my head. I also had a huge lapse in mental/physical help (diagnosed borderline personality disorder and manic depressive) and it basically led to a total shut down where I just stopped paying my bills for months in order to survive off my paycheck and just feeling completely lost /hopeless, coupled with wasting money in unhealthy coping mechanisms. I'm now roughly $4000 in debt with 3 accounts in collections and 4 delinquent loans, one of which I just got a court summons for and I'm freaking out. I can't afford to pay everybody. Please help me start in the right direction. +I'm in Colorado, 22 years old and I make about 28k a year. + +Edit: I am currently in treatment for my disorders and I am getting married in 2 months if that affects anything. Also changed to $4000 bad typo to make + +Edit 2.0: IM SO SORRY THAT I CANT REPLY TO EVERYONE. I am so overwhelmed with the support I'm receiving. From resources to donation offers and partners in mental health. I honestly expected one or two replies. I'm getting a plan together and feel so much more confident in tackling this. Thank you all so much. +There are a lot of tax posts around about how to get your taxes done free in person, but I wanted to share this info if you're like me and prefer to do them myself at home. + +TurboTax changed what forms are about to be filed for free and the 1099G you get from government rebates and unemployment payments is not one of them. They will charge you $39.99 to file. + +H&R Block, on the other hand, will not charge you for that same paperwork. There is no fee for using the free version, and you can save a copy of your return at the end for your records. I did two sets of taxes yesterday and neither one cost anything but my time. + + +While I’m not renting I have been wondering why it’s so competitive recently and rents are increasing in many places. What’s driving the low vacancy rate? + +Immigration has been fairly low during covid so I’d hazard a guess that it’s not migrants driving rents up (currently). + +Is the supply of rental houses suddenly very tight? Are those who previously rented out an extra property not doing that anymore? Is everyone shifting their rental property over to an Airbnb? + +Also where are people living if they can’t find a rental? I haven’t noticed a huge spike in homelessness. + +Ps realise floods may have impacted certain regions but this has been going on for a fair bit before the summer floods. + +Edit: I had naively thought that rental markets may be tight all over Australia but I am primarily talking about Queensland I guess. Are rental markets in other locations not as tight? +I am going to be intentionally vague in this post . . . + +I am speaker of the house and my husband is an ape. He was squeezing my huge sand bags one night a few weeks ago and I mentioned I was working on a bill that subsidized microchip companies. + +Next thing I know, this ape goes wild on chip company call options. Anyways, I am so nervous about this that I think I might leave the country and head to Taiwan. +700 billionaires own as much wealth as 65 million **households.** The mimimum wage hasn't been raised for 13 years. + +But if you ask the politicians or the lawmakers, they'll keep saying that crypto is the problem and why we should ban it. LMAO. We're living in a clown world. + +Wake up people. If they hate crypto that much, that means crypto is on regular people's side. That's why they hate crypto so much. +Not sure if this is where I should post this but here it goes. I'm 35 years old and I haven't filed taxes in about 7 years. I would always go to the accountant my folks used and he would handle everything for me and my folks for like $125 or something. Several times we ended up not doing it on time and having to do two years at once. So when we didn't go one year, no big deal. And it just kept not being a big deal until suddenly it's 7 or 8 years later. I'm sort of paralyzed at the idea of it all and just keep burying my head in the sand the last couple of years. The IRS hasn't ever said anything about it, but it's this weight that kind of hangs over me that I need gone. + +I don't know if I should go talk to guy my folks used (if he's still doing it) or go to big tax company or get a lawyer or what. I never did anything complicated, just basically hand over my stuff from work and go about my day. I make about 40k now up slowly from 35k or so back then. Any suggestions would be greatly appreciated. + +Edit: Filed a tax return. Not haven't paid taxes. Sorry for my poor verbiage. +Taking the plunge, I have a personal assistant starting in January. She's going to help run the house and help out with my commercial real estate business (weekly/monthly bookkeeping, tenant emergencies, etc). 30 hrs/wk. I've been struggling to manage both the business and home life as a single dad, so it was either get someone to help or step back from the real estate and accept being RE stay-at-home dad, which I'm not quite ready to do. + +Posting to see if anyone has tips/suggestions on how they operate their house with a PA, what works what doesn't? Do you give them a separate credit card, or segregate a household operations checking account? I was thinking to manage everything through google sheets - to do lists, any type of list, house "operations manual", etc. + +We don't have a big house, so they'll be a staff of one, with the idea being that they outsource more of the "hands on" work to become more of a true household manager as the role (and finances) grow. + +I need to get payroll set up and talk with insurance about "all the things" (including harrassment rider etc just to be safe), I'm familiar with that from the business side, I'm more wondering what did and didn't work in your house? TIA +Anybody and their mother can make a QuantConnect + TradingView account and make a simple Python script using some indicators. + +I skimmed through the top posts from the previous year (and the comments on them). The overall vibe in this subreddit is, it's vastly understated how complicated it is to have a winning strategy. + +I just want to make sure I don't waste time going into this if simple things like RSI + MACD divergence + Bollinger bands don't "win". + +What is the simplest known strategy that is even remotely winning? +What's the best way to measure 30 day volatility average as a single number return for currency pairs? + +Suppose a model train service is configured, the deployment-rig to trade a currency pair runs. Now you want to identify which currencies have the greatest volatility to benefit from trade over. + +Background: Python, CNN's Keras, Binance. Looking to identify which pairs have highest 30 day volatility to trade upon. + +My initial thoughts is the [average (sum/total) of standard deviation of closing price over 30 days](https://www.fool.com/knowledge-center/how-to-calculate-annualized-volatility.aspx). Intuition says there should be a quick trick to get the 30 day volatility over a time interval which is proving a good challenge to source. + +&#x200B; + +&#x200B; +I was having my best day of trading so far. Made $300 before lunch. Everything was going smooth. Made a couple more after lunch to be up $420. I got cocky and risked way too much on a poor setup. Just like that I was down to $250. I took a break came back and then before I knew it was in the negative and then luckily somehow came out just above even. + +I work so hard to make gains and then a moments lapse in judgment and I’m back down. Does anyone have tips? It’s especially difficult in the afternoon to maintain my focus and then not get emotional. + +Edit: I have realized although I have a proven strategy I am not yet a professional that can go all day long without breaks. Mental fatigue is surely a major part of my issues. I realize now I need to set profit goals and learn when to walk away. At this point it’s about surviving to trade another day. +Hi, throwaway. + +I got a loan out just before the pandemic. + +Due to a number of circumstances my life is totally fu*ked.. + +I don't have any life plans, and don't feel like trying anymore. I have nothing left, no work, no money, no friends. I'm 29 btw. + + +Needless to say I attempted suicide 5 months ago. Sadly failed and woke up 2 days later. + + + +The loan company keep calling every single day. I don't even pick up. However have paid my monthly installments every month up until now. + +Now I have no money left. Should I just tell them it's over? It's not a huge amount, but I don't know how much longer I'll be here. + +I heard a default goes down on your credit, how bad is it? +* The risk for holding GME long term is very low, while the reward for holding GME "short" and long-term is extremely high. +* Ignore MSM and social media FUD. This is their main play right now. At this point I think a lot of apes are immune to their shit. +* Be careful when looking at Credit Rating Agencies' ratings for GME, GameStop, banks or other financial institutions. Don't trust them. They have every incentive to lie to you. This might be their next play to hold off as many retail investors from FOMOing on GME when it starts to moon. +* The price is wrong, bitch! +* All shorts must cover. + +That is all. +You probably have heard a buzz brewing recently about Smartlands SLT. This is partly due to a spike in price last week (113%). I wanted to share some exciting information on the project and also resources you can use to look into it. Always DYOR, but here are some quick bullet points. + +What is Smartlands? + +Smartlands is a small Cap that has been around since 2017 and has slowly been building the legal and technical framework to allow fractional issuance and ownership of assets over the blockchain. This means you can invest in various assets: Agriculture, real estate, precious metals, etc... for whatever amount you want and still get the same return as the institutional investors in the Wall Street Boys Club. Smartlands is powered by the SLT token and uses the energy and cost efficient Stellar network. (Unlike those other DeFi projects that require expensive gas fees on Ethereum ;)). + +Why will the price of SLT increase? + +The Platform is finally going live in April after 3 years of hard work and preparation with several projects. In addition to the platform going live, the SLT coin is going to be listed on several exchanges including a tier 1 exchange (details coming soon...). Agroxy is one of the projects going live in April and it is a network of over 15,000 farmers who buy, sell, and trade agricultural equipment and supplies. Also, Colliers International (global real estate powerhouse) is partnered with Smartlands. Smartlands is focusing their efforts in Ukraine, and their partner link on the website partner page goes directly to 52 different commercial real estate listings in the Ukraine by Colliers International.... (HINT, HINT). Nothing has been announced yet, but the writing is on the wall. Currently the SLT coin is only available in 2 places which has created a barrier of entry for people to invest in SLT. But this is also why it is so cheap at the moment, and like many other coins that finally get listed on big exchanges, it will skyrocket immediately upon listing. Here is your chance to get in early before the rocket takes off. + +What are the tokenomics? + +This is one of my favorite reasons for looking into Smartlands. The SLT token is required to use the platform and 33% of fees are all sent back to SLT owners who have their tokens staked! With ONLY 5.1 MILLION COINS IN CIRCULATION, you can see how the price will exponentially explode (Easily over $100 per coin)! Just take a look at some of the other DeFi projects on Ethereum. The Market Cap for this gem is only 8.5 Million right now. If it hits 1 Billion Market Cap (conservative estimate) you are looking at $200 USD per SLT (currently only $1.67)... + +Anyways I could probably write a lot more, but I want to keep it relatively short and concise. If you want to find out anymore info about SLT, drop into their telegram chat below. The community is very friendly and very helpful. + +Resources: + +[www.smartlands.io](https://www.smartlands.io/) + +Telegram + +[https://t.me/smartlandschat](https://t.me/smartlandschat) + +Where to buy SLT with XLM + +[www.stellarterm.com](https://www.stellarterm.com/) + +Lobstr Wallet + +Where to buy SLT with BTC + +Whitebit Exchange + +More exchanges coming soon. +I think the top two for me are.. + +1) people think that the more complex and intricate their strategy is = more success. + +2) “ You can predict the market “ - The market may present you with news, price action and your technical indicators all showing a strong buy/sell.. and than boom goes the other way. That’s why I don’t care about what I can “ make “ but more importantly what I’m willing to lose. +They show up every few days (sometimes daily) and are only made by people who do no real research and want easy answers. They contribute nothing to the subreddit and prevent people who want to get into more technical analysis from taking this sub seriously. + +If the wiki could have a simple answer that explains the +90% fail rate and difficulty of the market the posts could focus on actual DD and discussion. + +I am extremely discouraged by these constant posts and do most of my actual posting in private chatrooms since I don't feel like t he majority of the people here are serious. +Hi, + +I have been trading on and off for the last 5 months since I turned 18, made a quick profit and then decided to call to quits when I ran into losses. I am starting back up with the mindset of 6 wins + 4 losses and I am fine. My SLs should be no more than 150 pips below my entry and my TP should be no more than 200 pips above my entry. I aim to work by scalping on major currency pairs such as the GBP USD as I am English - so I understand how traders react to news on the GBP side of the pair. + +Does anyone have any key strategies they use to help them succeed more often than not - I am looking at Fibonacci, but not currently trading with it and I can only call a trade 40% of the time. I am struggling to understand other strategies and it would be very helpful to have some help in understanding how to trade with other strategies. Thank you :) + +Also, I have purchased Forex courses and they were a complete waste of my money which I could have invested into my trading account. + +Have a nice day, + +Luke +I can see the appeal in swing being that you make more profit and it’s less stressful. Are there any other reasons?? I’m a scalper . But it’s mostly because it was the way I was taught. Also new here and to trading forex spent the past few months analyzing and this last month trading. +So everything started back in June 2015. After using Coinbase as my "online btc vault" for about 4-5 months keeping anywhere from $2500 worth of btc to $10,000. I got very interested on how their "Vault" system works and how safe it is. After testing it out and experimenting with it for over a week i was able to find one of the most major exploits on the site. In a nutshell what the exploit allowed me to do was to put my account into negative balance while withdrawing the btc, which basically resulted in me being able to cashout infinite Bitcoins even if i didn't have them on my account. Instead of abusing the exploit i have decided to help Coinbase fix the exploit by telling them step to step instructions on how to reproduce the bug on hackerone. After they were able to fix the exploit i was rewarded a measly $5,000 bounty, which i thought was unfair and was expecting to get upwards of $25,000. I helped them fix something that could have damaged them in hundreds of thousands of dollars, maybe even Millions if the exploit was executed correctly with the right amount of people. Anyway so after i got my bounty and moved on they put some kind of "secret" ban on my account, which i was unaware of and got no email at the time telling me the account was banned or locked in any kind of way. So i find out that they put lock on my bitcoins and whatever i would send to my coinbase wallet i couldn't withdraw or use it in any way. I sent them few support emails and got no clear response. After further investigation into their Vault i was able to discover almost identical exploit which resulted in the same manner as the previous one. After informing Coinbase on the new exploit it took them few months to reply on hackerone and after they did they fully put ban on my coinbase account for no relevant reason and after that they sent me request on hackerone to give them further instructions, which they clearly knew that i was unable to do that because moments before they asked for that they had banned my account. Time passed with no clear reply from Coinbase and they labeled the newer exploit as "Informative" Rewarding me with no bounty. After trying to replicate the new exploit on a new account it was clear that they had fixed it and didn't reward me for it. + +I didn't want this to go public and tried to deal with Coinbase in private, but with no clear resolvement i have no other choice, but to just put this out for everyone. + +Proof: + +first exploit resolvement on hackerone: http://i.imgur.com/GgD0L0l.png + +proof of the first exploit being performed correctly: + +http://i.imgur.com/x2miZOk.png +http://i.imgur.com/bUKlXhY.png + +proof of ban from coinbase after they fix the second exploit: + +http://i.imgur.com/C3uyA2V.png + +second exploit being marked as "Informative" after they had fixed it and banned me from accessing coinbase: + +http://i.imgur.com/Z8EXORY.png + + +NOTE: I only used Coinbase to keep my bitcoins in their wallet. I have never used Coinbase as a mean to buy or sell my bitcoins. + + +UPDATE: Coinbase has emailed me saying that they will re-open all of my reports on Hackerone and reevaluate them. Let's see where that will lead. +So I have a friend who lives in Spain and his girlfriend worked in the US for 3 months in 2018. During that time she filed her taxes. Yesterday she and 60 other Spanish citizens in the same program as her received $1200 in their US bank account. This shit show was so rushed and we’re slowly going to find out how little of the money truly helped our economy. + +TLDR: checks going out to everyone in the world and their mom, SPY -69p 4/20 +In 2012 I spent 30BTC on Silk Road (after tumbling my coins three times but I have a feeling that whole process was unnecessary) for a single sheet of acid. They were Jerry Bears from a vendor in the Pacific Northwest that went by HouseOfSpirits. I spent that money joyfully and gratefully because, for the time time in over a decade, I could find really good acid. + +Today that would be worth $1,500,000 + +Or $15K per hit. I have around five of them left. I think that qualifies as the most expensive acid in the world. + +No ragrets +**DISCLAIMER**: I copied and pasted all *italicized* content from the linked articles. None of the quoted items are my own. NONE OF THIS IS FINANCIAL ADVICE EITHER. I'm just presenting publicly available content in a different way. My comments are in (parenthesis). **Bold stuff really stuck out to me.** + +**Tweet #1** Jun 2, 2019 - “Hello Twitter! #myfirstTweet + +**Tweet #2** Nov 30, 2019 - Retweet of this article + +[https://www.businessinsider.com/chewy-cofounder-how-he-created-multibillion-dollar-empire-2019-11](https://www.businessinsider.com/chewy-cofounder-how-he-created-multibillion-dollar-empire-2019-11) + +>*He told Business Insider that the key to the company's success was providing an online service that Amazon wasn't, and understanding the emotional connection that pet owners have with their animals.* +> +>​​*With Chewy behind him, we asked Cohen what's next and whether he sees another opportunity in the pet world.* +> +>"*I think the opportunity was there — and building Chewy was probably my best idea for the best space," he said, adding: "Never say never. Let's see what the future holds."* + +(RC was a week or two away from launching an online jewelry store with his partner Michael Day (who?) when he pivoted completely and went another way after visiting a local pet store. He wanted to sell something he actually cared about. They tossed the jewelry idea, sold off everything, and started Chewy) + +**Tweet #3** Dec 31, 2019 - Retweet of this article + +[https://hbr.org/2020/01/the-founder-of-chewy-com-on-finding-the-financing-to-achieve-scale?utm\_source=twitter&utm\_medium=social&utm\_campaign=hbr](https://hbr.org/2020/01/the-founder-of-chewy-com-on-finding-the-financing-to-achieve-scale?utm_source=twitter&utm_medium=social&utm_campaign=hbr) + +>*“From that point on, the mission was larger. I was even more committed to making Chewy an industry leader, because it was no longer just our own money on the line. Larry had gone out on a limb for us. I felt that responsibility.”* + +(This was after Larry Cheng invested $15,000,000 in Chewy. He originally said no but checked on RC 6 months later and saw they beat the metrics they promised him) + +>*“I approached every subsequent round of financing, including PetSmart’s acquisition, in a similar way—by underpromising and overdelivering on sales. Our mission was straightforward: to build a best-in-class, customer-obsessed pet retailer.* ***We also wanted to leave everyone who’d backed us a winner.”*** +> +>*“Ultimately we raised six rounds of financing totaling more than $350 million from T. Rowe Price, BlackRock, Greenspring, Lone Pine, Verlinvest, and the investment bank Allen & Company."* +> +>*Our investors were happy too. The early-stage ones made huge gains, and the later-stage ones earned significant money. Investing in Chewy had made a lot of careers, and I’m proud of that. Those investors put their trust in me and my vision, and I repaid them with returns. The same would soon be true for BC Partners and PetSmart.* + +*(*He cares about your investment just as much as you do. Don't think for a second he doesn't appreciate the commitment of a bunch of individual investors who like the stonk.) + +>*“When I think back to why raising the money to help grow the business was one of the best moments of my life, I realize it’s because* ***the journey was far more exciting than getting to the finish line.*** ***I relished the challenges of disrupting an entire industry and trying to delight customers to a degree that had never been achieved before****. The excitement I felt from putting together a world-class team of employees and investors, succeeding against all odds, and building a multibillion-dollar retail leader from nothing was unequivocally the greatest of my career.”* + +(His favorite part of all of this is the process of disrupting entire industries and jacking our tits. I might have paraphrased the last part lol) + +**Tweet #4** Jan 26, 2020 - Retweet of this article [https://www.forbes.com/sites/joanverdon/2020/01/26/ryan-cohen-started-a-company-that-took-on-amazon-and-sold-it-for-3-billion-now-hes-thinking-about-whats-next/?sh=2d0af3c25579](https://www.forbes.com/sites/joanverdon/2020/01/26/ryan-cohen-started-a-company-that-took-on-amazon-and-sold-it-for-3-billion-now-hes-thinking-about-whats-next/?sh=2d0af3c25579) + +>*“Now, a decade later, after selling Chewy for $3.35 billion and exiting the company, Cohen is still thinking about the best way to beat Amazon.”* +> +>*“It’s harder now, he says, but still possible.”* +> +>*“Back then, Cohen used the 1997 Jeff Bezos letter to Amazon shareholders as a roadmap for how to grow Chewy. Bezos’ comments about the need to scale, to achieve market leadership and to make bold bets, became Chewy’s playbook.”* +> +>***“We knew we needed to be number one or that we would fail,”*** *he said. “If we were number two or three, we wouldn’t have a sustainable business. We needed to build an even larger pet business than Amazon or anyone else in retail.”* +> +>*"Since leaving Chewy, Cohen has been looking at investments, both public and private, but hasn’t yet seen, or come up with, an idea as good as Chewy."* +> +>***“And the best idea to bet on could be the one that everyone says can’t possibly succeed.”*** +> +>*“Sometimes the best strategy is just to* ***be patient*** *and wait for that,” he said.* +> +>*“But he shared these thoughts about how a new e-commerce idea might compete in an Amazon world.* +> +>***Sell something the customer connects with emotionally.”*** +> +>*“I look at almost everything that comes to me, but I say no to 99.9% of it. That was true at Chewy too in terms of just programming all of our executives that generally the best answer is no. As Warren Buffet says, the difference between successful and really successful people is really successful people say no all the time.”* + +**Tweet #5** May 4, 2020 - Retweet of this article [https://www.entrepreneur.com/article/349890](https://www.entrepreneur.com/article/349890) + +>*“Everything I know — from empathy to the principles of making money — I learned by following in the footsteps of my late father, Ted Cohen.”* +> +>*“Looking back on his life and influence, the following five principles he showed me were critical to my success building Chewy.com and investing.”* +> +>***Disciplined capital allocation is one of the most important skills for running a successful business.*** +> +>*Free cash flow was our unwavering governor of growth.* +> +>***Delight your customers*** +> +>*My father showed me how building lifelong relationships with customers was far more valuable than optimizing for short-term profits.* +> +>***Be the person others want to follow*** +> +>*We didn't disrupt the pet industry by accident. Our team made huge sacrifices.* +> +>*You don't get that level of dedication by leading through fear. My father always said, "You catch more bees with honey than with vinegar."* +> +>***Take the long view*** +> +>*“My father was never looking to make a quick buck. He had no interest in material possessions. Every year, through thick and thin, he invested his savings into the stock market. He believed the real money was made through time in the market, not timing the market.”* +> +>*My father never invested in any fancy funds or paid management fees. He bought blue chip companies and held them forever.* +> +>*Key to our success was obsessing over customers and market leadership. Over the long term, customers and profits intersect.* +> +>***Trust yourself*** +> +>*Entrepreneurs don't operate with a handbook. My father taught me how to be independent and trust my own moral compass.* +> +>*For 45 years, he was the first employee to open his office and last one to leave. He showed me how perseverance and discipline ultimately pay off.* +> +>*Above all, he taught me that the best decisions come from heart, instincts and empathy.* +> +>*Dad, I will forever be grateful.* + +Tweet #6 Aug 4, 2020 - Retweet of this article + +[https://www.cnbc.com/2020/08/04/chewy-co-founder-ryan-cohen-this-is-the-side-hustle-id-start-now.html?\_\_source=twitter%7Cmakeit+](https://www.cnbc.com/2020/08/04/chewy-co-founder-ryan-cohen-this-is-the-side-hustle-id-start-now.html?__source=twitter%7Cmakeit+) + +>*By the time Cohen was 15, he was making thousands of dollars a month off affiliate-link websites he built himself.* +> +>*As his late father taught him, “just as important as making extra money with a side business is saving. My father showed me how to invest and only spend what is left after saving.”* + +**Tweet #7** Aug 16, 2020 - Retweet of Zack Friedman’s Tweet of his of his article: + +​​​​[https://www.forbes.com/sites/zackfriedman/2020/08/16/entrepreneur-chewy-founder-ryan-cohen-shares-his-best-advice/?sh=a9ca6cd5840d](https://www.forbes.com/sites/zackfriedman/2020/08/16/entrepreneur-chewy-founder-ryan-cohen-shares-his-best-advice/?sh=a9ca6cd5840d) + +(This is the one where RC is sitting on a Chess Board in the image…) + +**(I believe this is when RC Ventures started scooping up $GME shares… GameStop filling on Aug 28, 2020 said he had 5,800,000 shares. Everyone should actually read this one it's really good. I’m only copying and pasting a few parts, so take 10 mins and do some reading.)** + +&#x200B; + +>*Friedman: You were rejected by 100 different investors. What did you learn from the process? What made you keep going when you kept hearing no?* +> +>*Cohen: For me, each no sounded like they just didn’t understand my vision. It was frustrating at times, but never discouraging. Those “no”s never made me doubt my strategy – it was the opposite. I was motivated by all the rejections and they just got me fired up.* +> +>***I understood that thinking big was likely going to be misunderstood along the way. I’m contrarian by nature, so being misunderstood often validates what I’m doing.*** +> +>*Friedman: Let’s talk about execution and scale. You’ve said that you used Zappos as a model. You also were inspired by Jeff Bezos and Amazon’s growth and model. How do you go from idea to platform to scale? What was the process and how did you scale so quickly?* + +*(His answer is long, you should read it…im picking a few one liners here and there)* + +>*“We prioritized long term growth over short term profitability.* ***The last thing you want to be is a subscale e-commerce company.*** *You’re a dead man walking, and Amazon will crush you. We rapidly expanded our product offering to include all pet food and supplies so there was never a reason to shop elsewhere. By 2018, 90% of our revenue was from repeat customers.”* +> +>*Friedman: What’s the most misunderstood thing about entrepreneurship?* +> +>*Cohen: Don’t let the pictures or magazines mislead you, it’s not at all glamorous. Negotiating with vendors, reading long contracts, conducting nonstop interviews, convincing investors to give you money, combined with a constant stream of everyday problems, is not fun.* +> +>***The Type A in me is competitive and loves to win, but the day-to-day feels like you’re losing. If you think you’re winning you’re probably not doing a great job building your company.*** *Even as our sales grew into the billions, I always felt behind. Whether that’s the right mentality or not, that’s how I’m wired.* +> +>*Friedman: What are three pieces of advice you would give to an aspiring entrepreneur?* + +***(again long answer, you should read it but I like this part…a lot)*** + +>*“My dad had a glassware importing business, and he told me about how he was talking with his dad one day. His dad had pointed at two trucks. “You see those trucks there?” he’d said. “If what’s in one of those trucks will make you more money, and what’s in the other truck will make your customers happier, choose the one that makes your customers happier, even if you make less money.”* +> +>*Second, I was never afraid to say no.* +> +>*Third, my biggest risk would have been not taking risk. The risk of going head-to-head against Amazon. The risk of insourcing fulfillment. The risk of building a company in Florida rather than a popular tech hub. The risk of spending $3 million a month on TV ads, more than Home Depot budget.* ***The risk of hiring expensive executives*** *even though we weren’t profitable. These decisions were some of the most controversial and r****equired me being comfortable betting against conventional wisdom,*** *and were often contrary to the advice of my board. Suffice it to say, I was not the most popular board member.”* +> +>*Friedman: You’ve said that your dad, Ted, has been an important mentor in your life. My deepest condolences to you and your family. What did you learn from your dad?* +> +>***“Through watching him work, I learned many things, one of which was to double check everything, to read through every detail of a contract, to triple check all my numbers so I knew them inside out.*** +> +>*Dad also showed me discipline, by being the most disciplined person I ever knew.”* +> +>*Friedman: What’s your favorite thing that you like to do with Tylee, your dog?* +> +>*Cohen: I like to take a few minutes every day and sit with her in the sun. It’s my time to unplug and smell the fresh air.* + +(Having a dog similar to Tylee, this warms my heart since I do the same. ) + +**Tweet #8** Nov 21, 2020 - Retweet of this article: + +[https://www.cnbc.com/2020/11/20/former-chewy-ceo-ryan-cohen-urges-gamestop-to-become-the-amazon-of-video-games.html?\_\_source=twitter%7Cmain](https://www.cnbc.com/2020/11/20/former-chewy-ceo-ryan-cohen-urges-gamestop-to-become-the-amazon-of-video-games.html?__source=twitter%7Cmain) + +(THIS IS A GOOD ONE, READ IT!) + +>*($GME) Stock Market Value: $828 million ($12.71 per share)* +> +>*Activist: Ryan Cohen* +> +>*Percentage Ownership: 9.98%* +> +>*Average Cost: $5.98* +> +>*What’s Happening:* +> +>*On Nov. 16, 2020, Cohen sent a letter to the company’s board, urging them to immediately conduct a strategic review and to provide stockholders with a credible and publicly available roadmap for cost containment, prioritizing profitable retail locations and geographic markets and building the e-commerce ecosystem.* +> +>*Behind the Scenes:* +> +>***Cohen resorted to this public letter because his private attempts were not productive.*** *GameStop sells video games and consoles and has been bearishly compared to* ***Blockbuster.*** *Cohen does not make that direct analogy, but he certainly paints the picture of a company that is on that same path if it does not change.* + +(This part is pretty juicy) + +>*"...a large part of the shareholder base is comprised of index funds such as BlackRock (12.12%), Vanguard (8.12%) and State Street (4.0%), who are reluctant to back an activist without the cover of an ISS or Glass Lewis recommendation.* ***However, what is interesting here is there is an unusually high short interest, with approximately 90% of the shares in lending programs, so we don’t really know who has loaned their shares, who can vote them and who can recall them before the meeting.*** + +(Holy shit I think RC called their bluff…he was aggressive about getting on the board because he knew they lent out their shares and he would have no problem getting in if they voted on it…4D chess move) + +**Tweet #9** Dec 9, 2020 - RC tweets the embarrassed emoji (also written as :$ ) and this fine video of Jim Cramer [https://www.thestreet.com/video/why-jim-cramer-says-stay-away-from-gamestop](https://www.thestreet.com/video/why-jim-cramer-says-stay-away-from-gamestop) + +Here is the link: [https://www.youtube.com/watch?v=yPQPl6yWKhI](https://www.youtube.com/watch?v=yPQPl6yWKhI) + +[5:58](https://youtu.be/yPQPl6yWKhI?t=357) in this video. Cramer hypes the shit out of Chewy…I can see why RC is blushing lol.) + +[10:20](https://youtu.be/yPQPl6yWKhI?t=617) is when Cramer is asked about GameStop. (If you wanna laugh play it at .5 speed) + +>“I hate these guys, I’ve hated them for a long time. They managed to go up on some sort of a short squeeze…coming right back down.” + +(Wait play that back…this was December 9, 2020. WTF is he talking about?) + +&#x200B; + +**Tweet #10** + +https://preview.redd.it/my2evehfbgd91.png?width=1188&format=png&auto=webp&s=ceb029dbbab9a00fc9b03b15daf0c1307858a3d9 +Good Morning You Diamond Fisted F\*cks ! + +Well congrats on not being a paper-handed bitch and welcome to another day of smashing the blunt end of your crayon into charts. + +https://preview.redd.it/kuwaf20lhdb71.png?width=589&format=png&auto=webp&s=90db2a631b6c3f7f96f7ba53dc91f0fa705bbc68 + +We got absolutely smashed down yesterday arguably some of the most concentrated effort I have ever seen to drive the price of a stock down. + +Now we can bounce... + +If you guys haven't had a chance to [Check out this weeks forward looking TA](https://www.reddit.com/r/Superstonk/comments/oi6c88/jerkin_it_with_gherkinit_forward_looking_ta_for/) + +Join us in the Daily Livestream [https://www.youtube.com/c/PickleFinancial](https://www.youtube.com/c/PickleFinancial) + +Or listen along with our live audio feed on [Discord](https://discord.gg/HbqnUVsSrH) + +(save these links in case reddit goes down) + +*(this post will read from top to bottom)* + +(*feel free to ask me questions below, but if you can google it yourself please use common sense)* + +Historical Resistance/Support: + +116.5, 125.5, 132.5, 141, 145, 147.5, 150, 152.5, **157 (previous ATM offering)**, 158.5, 162.5, 163, 165.5, 172, 174, 176.5, 179, 180.5, 182, 183.5, 184.5, 186, 187.5, 190.5, 192, 195, 196.5, 197.5, 200, 209, 211.5, 214.5, 218, **225.20 (new ATM offering)** 226, 232.5, 235, 242.5, 250, 255, 262.5, 275, 280, 285, 300, 302.50, 310, 317.50, 325, 332.5, 340, 350, 400, 483, moon base... + +A nice bounce from our after hours low of $151 closing the day solidly up $16 dollars even though MSM will only note the -.024%. Thank you all for tuning in. I will see you bright and early tomorrow for more gains. + +\-Gherkinit + +https://preview.redd.it/t3jwtjhgnfb71.png?width=2072&format=png&auto=webp&s=162b6e6073fcde447cd6abd8d69a79aa21893b0b + +&#x200B; + +[Another $50 million...](https://preview.redd.it/ge3ouldwnfb71.png?width=357&format=png&auto=webp&s=da1f5b7f6ef2a5dccd159fa57297e5759e277ccf) + +Edit 8 2:40 + +Broke through resistance. Upgraded rocket for more thrust = bullish + +https://preview.redd.it/627fcrmt8fb71.png?width=1637&format=png&auto=webp&s=65d02057855617753f187eef370b1050d12d73f3 + +Edit 7 2:16 + +Nice trend reversal looking to the test at 162.5 this is a good signal moving towards power hour + +https://preview.redd.it/1vmsekrf4fb71.png?width=1642&format=png&auto=webp&s=250bcdfc211c8b42974e7c0624d2c146dee6908d + +Edit 6 1:20 + +Break up from this intraday descending wedge? + +https://preview.redd.it/8z4gikmgueb71.png?width=1639&format=png&auto=webp&s=cc3e2e579b8b692ee923e60eb30de072c252bbfd + +Edit 5 11:49 + +Head and shoulders fell off expect a drop to \~161. Volume drying up as well. + +https://preview.redd.it/dtej22o3eeb71.png?width=1635&format=png&auto=webp&s=6b48b1437cf42fcbfa59c01956ca46902c214a90 + +Edit 4 11:39 + +Fell down below VWAP on that sloppy head and shoulders but looks like we are bounce back before bottoming out + +https://preview.redd.it/s7mj906iceb71.png?width=1632&format=png&auto=webp&s=b03b4f0adaa3148db7418a1816ad7e29649d0cb6 + +Edit 3 11:13 + +Nice double bottom bounce into an ascending channel hopefully this will see us another test @ $170 + +https://preview.redd.it/o75mcvsy7eb71.png?width=1623&format=png&auto=webp&s=4f01e376e39cb8ad547a52e16d830146857d4daa + +Edit 2 10:28 + +Still buying itm puts $2m worth in the last 28 minutes. But they are running out of open contracts...lol. As soon as the pressure let's up we go REEEE again. + +https://preview.redd.it/wm9w22mszdb71.png?width=1634&format=png&auto=webp&s=ba7037478804d72ed3d4ddb9b2f0b71f2bf176d6 + +Edit 1 9:46 + +Straight up consolidation at 170 almost 1m volume + +https://preview.redd.it/xexpn96asdb71.png?width=1636&format=png&auto=webp&s=16b18f3bd25bc9abfa9a3be2ffd6c3d2f5e4e0f7 + +# Pre-Market Analysis + +Sitting around 70k volume with 150k shares to borrow. Our pre-market volume is actually pretty high so far . I expect 157 to be a strong support yet again. Between GME's and ETF option chains, it looks like they have dropped near $0.5B on tanking the price this week. Expect more fuckery today. + +https://preview.redd.it/v12de1vohdb71.png?width=1634&format=png&auto=webp&s=553e7ba0b13f852ec6711c09e84937889238af1c + +Another thing to not, due to the big price drop yesterday and massive European market volume this morning we are seeing a spike in CV\_VWAP. I will monitor this for a jump to the signal line. + +https://preview.redd.it/2ihwfc3qhdb71.png?width=1301&format=png&auto=webp&s=94c75615e1863157f4a9c3877c3b07ce2c002a58 + +The rest of the technical indicators have broken down currently due to adverse market conditions, If we bounce and return to the expected price movement I will let you guys know. + +Disclaimer + +*\* Although my profession is day trading, I in no way endorse day-trading of GME not only does it present significant risk, it can delay the squeeze.* + +*\*My YouTube channel is "monetized" if that is something you are uncomfortable with, I understand, while I wouldn't say I profit greatly from the views, I do suggest you use ad-block when viewing it if you feel so compelled.* *My intention is simply benefit this community. For those that find value in and feel compelled to reward my work, I thank you. For those that do not I encourage you to enjoy the content. As always this information is intended to be free to everyone.* + +\**This is not Financial advice. The ideas and opinions expressed here are for educational and entertainment purposes only.* + +\* *No position is worth your life and debt can always be repaid. Please if you need help reach out this community is here for you. Also the NSPL Phone: 800-273-8255 Hours: Available 24 hours. Languages: English, Spanish.* [*Learn more*](https://suicidepreventionlifeline.org/) +"Two of the largest Wall Street banks are trying to measure the market impact of Donald Trump’s tweets. + +Analysts at JPMorgan Chase & Co. have created an index to quantify what they say are the growing effects on U.S. bond yields. Citigroup Inc.’s foreign exchange team, meanwhile, report that these micro-blogging missives are also becoming “increasingly relevant” to foreign-exchange moves. + +JPMorgan’s “Volfefe Index,” named after Trump’s mysterious covfefe tweet from May 2017, suggests that the president’s electronic musings are having a statistically significant impact on Treasury yields. The number of market-moving Trump tweets has ballooned in the past month, with those including words such as “China,” “billion,” “products,” “Democrats” and “great” most likely to affect prices, the analysts found." + +Source: https://www.bloomberg.com/news/articles/2019-09-09/jpmorgan-creates-volfefe-index-to-track-trump-tweet-impact +"Two of the largest Wall Street banks are trying to measure the market impact of Donald Trump’s tweets. + +Analysts at JPMorgan Chase & Co. have created an index to quantify what they say are the growing effects on U.S. bond yields. Citigroup Inc.’s foreign exchange team, meanwhile, report that these micro-blogging missives are also becoming “increasingly relevant” to foreign-exchange moves. + +JPMorgan’s “Volfefe Index,” named after Trump’s mysterious covfefe tweet from May 2017, suggests that the president’s electronic musings are having a statistically significant impact on Treasury yields. The number of market-moving Trump tweets has ballooned in the past month, with those including words such as “China,” “billion,” “products,” “Democrats” and “great” most likely to affect prices, the analysts found." + +Source: https://www.bloomberg.com/news/articles/2019-09-09/jpmorgan-creates-volfefe-index-to-track-trump-tweet-impact +Edit - Thanks for all your input! I've made a follow up post on the matter! - + +[**04/11/2021 - The Fake Squeeze... Continued**](https://www.reddit.com/r/Superstonk/comments/moq8aj/04112021_the_fake_squeezecontinuedwill_the_margin/) + +&#x200B; + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +&#x200B; + +Quick Edit - I should've mentioned the biggest point of all... + +# JUST BECAUSE THEY MIGHT TRY THIS, DOESN'T MEAN THEY WILL BE SUCCESSFUL! WE AIN'T FUCKING LEAVING! + +**We have to believe they'll try absolutely anything at this point.** + +&#x200B; + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +&#x200B; + +**Edit - Okay, so let me clarify a few things!** + +&#x200B; + +* I think that highlighting a potential ‘fake run up’ will HELP people HODL even more! The biggest test for some people will be to take profits at $1000, with MSM pushing that the squeeze is finally over. + +**Surely providing some DD about how it is NOT REAL will HELP people HODL through it, rather than paper hand?** + +&#x200B; + +* Also, one major flaw in my post was the lack of accountancy for FOMO. This is a very real thing and would create heaps of buying pressure, screwing their plan altogether. It is a dangerous play for sure. I’d like to paste a comment I made below to some of the concerns. + +&#x200B; + +*Thanks for your comment! Let me just address some of things you've said and we can discuss.* + +*As I've explained, major HFs could have shorted long holdings of smaller HFs. When they liquidate, not only does it not affect them (much), but they're actually profiting.* + +1. *Very risky indeed, but when the inevitable squeeze is going to happen wouldn't you try everything possible to mitigate it?* +2. *Long whales only stock is not in GME. When these HFs liquidate, many of long whales other positions are going to be negatively affected.* +3. *Please remember not everyone who owns GME is an ape. There are people who have no idea of the fuckery afoot.* +4. *FOMO is the reason its a risky play.* + +&#x200B; + +* \*'\****The buying pressure could be too much'.*** **Well if the buying pressure is from HFs this time, there's a lot more room for fuckery. As Melvin stated before, the january squeeze was not shorts covering, more retail investors. If this squeeze creates buying pressure from BOTH retail and HFs, they are so fucking screwed. Hopefully FOMO hits again and they get fucked. I think I need to clarify this - I DONT WANT A FAKE SQUEEZE.** + +**I just want people to be prepared if there is one. We see $500 and then back to $100 (fire sale) and everyone telling us it's over.** + +&#x200B; + +If my tin foil hat is too tight, I apologise. But yesterday I stated a 'fake squeeze' and didn't really describe much as to why. This is a follow up to my speculation behind it. + +I thought carefully following up with it and believed that showing DD about how there could be a fake run up( before the actual one) would allow people to HODL. (not financial advice though motherfuckers). + +As always, thanks for your critique. I appreciate this post was a little more out there but as a community, we credit or discredit these kinds of things. Don't bash me. Give me a counter DD, I'll happily link it at the top of the post! + +# ______________________________________________________________________________ + +&#x200B; + +&#x200B; + +GOOOOOD MORNING APES AND APETTES + +**It's the FUD PATROL...........** + +&#x200B; + +[roar](https://preview.redd.it/yd38bxzg4hs61.png?width=829&format=png&auto=webp&s=a7633e229be06e9a367d83dc0b460cd98037104d) + +&#x200B; + +Firstly, I want to say thanks for all the comments and support on my previous post. Irrespective of my theories, the message got across that we should just question every motive behind MSM, even when it's confirmation bias. + +A lot of people were sceptical of the 'fake squeeze' theory. Instead of filling up that post, why not make it today's report! I apologise I'm not FUD BUSTING today but this is still good.... *(right?)* + +&#x200B; + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +&#x200B; + +# The fake squeeze theory + +So let me quote my previous post - + +>**You are led to believe Melvin was the only sinking ship in this battle and to save their fund, covered and made a fake squeeze to make everyone believe it’s all over.** +> +>Remember the DD stating there would be a fake squeeze to shake everyone? +> +>And regarding the question ‘what about a margin call’? Well can you not see Citadel have had weeks to fuck around and do whatever is necessary to prepare themselves. **I think Melvin is going to be the controlled explosion to FUD everyone into believing it’s over and for paper hands to take what they can get.** + +&#x200B; + +So I decided to do what any good agent of FUD PATROL would do. I set out to back up my claim. + +&#x200B; + +Let's clear some things up around Melvin. A lot of people were saying + +*'That would be suicide for Melvin'* + +*'Their reputation would be destroyed'* + +*'Why would Melvin purposely post losses?'* + +&#x200B; + +**You have to understand, this is bigger than Melvin. This is obvious otherwise Citadel wouldn't have invested a $2.5 BILLION 'bailout'. I believe Melvin is a pawn in a much bigger scheme here.** + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +&#x200B; + +**Let's go back. Why would Citadel bailout Melvin with $2.5 Billion?** + +The answer is obvious. To stop them being margin called and liquidated. Well this would only be an issue if Citadel had a large exposure on positions that Melvin held. So let's take a look at three of the biggest positions Melvin held and cross reference these with Citadel Advisors. + +(to clarify, in the event Melvin liquidated, their shares would be sold causing a mass drop in price. If Citadel went long on this stock, it would harm their portfolio) + +&#x200B; + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +**Advance Auto Parts - Melvin** + +https://preview.redd.it/189z16zs7hs61.png?width=1639&format=png&auto=webp&s=26342096df60e868b45361293b863b0422bd6c69 + +That's $196,888,000 by the way. + +**Citadel** + +[Oh so in December, Citadel increased their position and bought over 600,000 shares... that's exposure...](https://preview.redd.it/oezh2s8e8hs61.png?width=1382&format=png&auto=webp&s=c64a8d4a0d2c05cd4fbad48515490d00c56d4834) + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +&#x200B; + +**Expedia Group - Melvin** + +https://preview.redd.it/r7nzkiyb9hs61.png?width=1594&format=png&auto=webp&s=887bab36c43dfba05ec4e2c400b231cd521adec7 + +**Citadel** + +&#x200B; + +[Oh , So they increased their position in Expedia ALSO by over 430,000 shares](https://preview.redd.it/b9v85wyr9hs61.png?width=1376&format=png&auto=webp&s=34f1d5238d21ccb667559150017bfcc7e38eba90) + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +&#x200B; + +**Mastercard - Melvin** + +&#x200B; + +https://preview.redd.it/29smfqx9ahs61.png?width=1644&format=png&auto=webp&s=adf875309c9a7d6ef6225d2d8c5ee234faa81b1e + +**Citadel** + +&#x200B; + +[Not as bad but still a huge exposure if Melvin were to liquidate over $1 billion...](https://preview.redd.it/jrrhgqaoahs61.png?width=1380&format=png&auto=webp&s=fd6ab67b6b7c0919c4d5050d26f203aaf0327018) + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +&#x200B; + +**LAST BUT NOT LEAST - FACEBOOK - MELVIN** + +&#x200B; + +[$1.2 billion in shares](https://preview.redd.it/02lmj3c9bhs61.png?width=1644&format=png&auto=webp&s=351e8fdf96d3d978ad8c7a14fe3a23e178364985) + +&#x200B; + +**Citadel** + +&#x200B; + +[$13 billion in call options alone...These would've been fucked.](https://preview.redd.it/99nes9gebhs61.png?width=1379&format=png&auto=webp&s=fc320583f464102cb72a332f33dfd57aa67b5679) + +&#x200B; + +So as we see, this means that if they were margin called and liquidated these positions, Citadel would've taken a huge hit. + +&#x200B; + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +&#x200B; + +# So what has happened to the stock values? + +**They've gone up....** + +&#x200B; + +https://preview.redd.it/yvrwzlq4chs61.png?width=741&format=png&auto=webp&s=43fbaf92beda0ac50e02299c7eb587af171c88f6 + +&#x200B; + +https://preview.redd.it/asa3sam8chs61.png?width=735&format=png&auto=webp&s=05398e8298957fd1ce92428964c84b0e4edaadce + +&#x200B; + +https://preview.redd.it/ej4wffpdchs61.png?width=761&format=png&auto=webp&s=d61b6fe0f8e03e7358ef4d7ccf0520d1ddbb7eef + +&#x200B; + +https://preview.redd.it/ifoi810jchs61.png?width=752&format=png&auto=webp&s=2e266cb6ab986070d2da2bc6a032ab2e28edbd3c + +&#x200B; + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +# So what does this prove exactly? + +Well nothing yet. The juicy stuff is below. We have a background on the relationship between Citadel and Melvin. + +**If I was Citadel and knew Melvin was going to collapse, I could prepare and orchestrate a 'fake squeeze'.** + +How would I do it? + +&#x200B; + +**First - I'd take a short position in these stocks, so when they do collapse, I can make money. Let's look at the change in short interest....** + +&#x200B; + +&#x200B; + +https://preview.redd.it/aqnfp0yndhs61.png?width=1360&format=png&auto=webp&s=fdceebdc6189e9b69f7eeaffa0b3a9c6293e326d + +**So for Expedia, the price went up $12 but 1.5 million more shares were shorted? That sounds like an awful move?** + +&#x200B; + +&#x200B; + +https://preview.redd.it/he6rdbv0ehs61.png?width=1378&format=png&auto=webp&s=860a157140f8ce606656c5a649ef74693822eb0a + +**Looks like someone shorted the shit out of this back in January...** + +&#x200B; + +&#x200B; + +https://preview.redd.it/f8ei4vibehs61.png?width=1369&format=png&auto=webp&s=f61463868c8148070e39d786b4440e1438dbbfd0 + +**Mastercard being shorted to oblivion...** + +&#x200B; + +&#x200B; + +https://preview.redd.it/e49jw3yhehs61.png?width=1376&format=png&auto=webp&s=23eecfdf0dd31f1f4f295226d61a0d93a31ad39c + +**Who the fuck shorts a stock as it's going up????** + +&#x200B; + +**\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_** + +# Recap + +&#x200B; + +* Citadel is exposed to Melvin big time +* Know their collapse is imminent due to their position on GameStop +* Prepare yourself to profit off of their demise by taking short positions in their biggest holdings +* Make them a sacrifice and push them over the edge + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +# The Fake Squeeze... + +When Melvin is inevitably liquidated, GME shares will of course go up. This is the controlled explosion I was referring to previously. Melvin will buy all of the shorted shares from paper hands at $300,400,500 etc. Their position is closed out. What does this mean? + +**There are now more shares available to borrow and short again. This is exactly what the likes of Citadel will do. Borrow these shares that have been returned and short it to oblivion, driving down the price once again, claiming I'tS aLL OvEr.** + +**It's key to remember, Citadel have a much higher point before being margin called.... Hence, the opportunity for a fake squeeze.** + +**\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_** + +# Bonus Round! + +**Advance auto parts institutional ownership?** + +&#x200B; + +https://preview.redd.it/ex806r1cghs61.png?width=423&format=png&auto=webp&s=f7b83eb60aeb702e91c3d523b0c90da1836d00cd + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +**TL;DR** + +Citadel were massively exposed to Melvin and could not afford for them to liquidate. They could now have short positions on these and use Melvin as a sacrifice to push them to liquidate. This would create another controlled squeeze as Citadel make money on the short positions and also borrow (and short) all the stock Melvin is buying back. + +&#x200B; + +&#x200B; + +As always, I wrote this while cracked out on ritalin and my keyboard is nearly on fire. I will edit this later on for any inconsistencies and please comment and help me either prove this more or edit the plot holes! + +&#x200B; + +&#x200B; + +&#x200B; + +**IF IN DOUBT, HODL IT OUT** + +&#x200B; + +**FUD PATROL OUT.** + +&#x200B; + +*Disclaimer- this is in no way financial advice. Do not base your investment decisions on any of my previous, current or future posts.* +No evictions right now. Say a homeowner has a tenant that can’t pay rent due to covid, and this puts the owner in impossible situation that he has to sell. You’d be able to get a house at a cheaper price, and eventually evictions will resume. Have any of you done this? +I’m trying to do some calculations but I don’t know how much repairs costs. For example, the only repair I had in the last year in my apartment that I rent was a $150 exterminator for the whole year (I rent the place for $4300) I’m wondering if I should calculate that it costs 15%, 20%, 25%, etc? +This property was purchased as part of our partnership program with out of state investors (we are not taking new investors on at this time). This one has not been smooth from the beginning. The sellers proved to be very dishonest with us in just about everything. + +The property sits in a great neighborhood in the center of town. Not very many rentals are in the area, and hardly any duplexes like this one. One unit was occupied by the owners mother in law, the other had just had a tenant placed. We were told they were both paying $495 rent. This meant the property would easily fall into the 2% + monthly ROI range we are looking to get for our out of state investors. We knew we would need to do cosmetic work on the mother in law side if she ever decided to move, but because she was paying close to market rate, we had no interest in kicking her out, and knew because she was living pretty dirty there wasn't any sense in doing the work until she was out. All together we had budgeted up to $2k in minor repairs, but we managed to get everything needed either negotiated in the purchase contract or what ended up being about $500 total to fix what was left. + +While we were closing on the deal, the guy that had just moved into one of the units moved out, but we had tenants that wanted to move to that area of town that had been with us for close to a year, so we knew we had unit taken care of anyway. As the end of the month came around the mother in law in the other part of the duplex refused to pay rent, saying she had only been paying $350 before. We explained we had in writing that she had been paying $495...long story short, we managed to avoid an eviction, but she didn't get out until the 6th...and left a major mess behind. [https://imgur.com/a/24G0HKZ](https://imgur.com/a/24G0HKZ) + +As we were dealing with the mother in law...the tenants we had just moved into the other half of the duplex started getting crazy. Saying they wanted locks on every door in the house (including interior doors) and a new shower, and a whole other list of demands. Keep in mind they had just moved in and claimed they loved the place less than a week before. Turns out the girls mother was the reason behind all these strange demands, but during all this we also found out they had adopted at least 5 more cats and 3 more dogs during that WEEK! (they only had one dog in the previous property they rented from us) I'm an animal lover, and try to keep all my properties animal friendly, but this many animals in a small 1 bedroom duplex violates city code. Without going into all the mind boggling conversations and issues, lets just say we agreed to part ways before they ever paid rent...but we would keep their deposit as rent as long as they got out in a timely manner. You can pretty much guess...they left, but also left a major mess behind we had to deal with. Hard to believe they were there less than a week and had already trashed the place! [https://imgur.com/a/IfiS4Co](https://imgur.com/a/IfiS4Co) + +So that brings up to date. We now have another tenant from our wait list moving into the unit the we just got the animal people out of, and we are about half way through the renovation on the other unit. (starting paint today) Looks like we will spend about $2.5K total on the reno of that unit, but we'll be able to raise the rent to $550 for that side, so it is money well spent. We will have new tenants in there before the end of the month, so the duplex will be fully rented and hopefully this rental will finally be stabilized after a terrible start. Even with all the bumps, the total investment will be right around $43K total, and with the increased rent we are now grossing over $1K month. With the popularity of this area of town continuing to grow, we see a steady increase in rent in the future, making this a great long term investment for our investor and us. I'll update with new pics once the renovation is complete. +EDIT: Amounts removed as it seems to have upset some people. + +EDIT 2: Thanks to all, I don't need anymore comments on this one. We will amend the gift so it is to both of us and not just me. + +#EDIT 3: I called Halifax and they confirmed the money can just be gifted to myself, no need to gift it to my partner as well, and they even said they don't even need a letter or bank statements at all. + +Mum gifted me £x of which £y (slightly lesser amount) will be used for a house deposit. My girlfriend also is putting up £y for her half of the deposit. This means I would be putting in the same deposit as my girlfriend. + +Mortgage broker sent us a template letter for my mum to sign which states that the money is gifted to both me and my girlfriend. My girlfriend isn't comfortable with this, as it was only gifted to me so we can go in with an even amount in the house. + +We asked the broker about this, and she said it would better to have it gifted to both of us and to leave the template as it is. I assume the mortgage application she put in for us states it was gifted to both of us and she can't correct it. We've already had the mortgage application accepted. + +What should we do? +Here is the list: + + 0x00c12ff00b7b2340a006e8d7f91ef42b5c3ec48f: 100 ETH (used 0 ETH so far) + 0xfb6494df0cf00f566feba0f2389ea16c4838e290: 250 ETH (used 249 ETH so far) + 0x5b8d84105a7a1c34ed556e835a37be4d6c535463: 275 ETH (used 275 ETH so far) + 0x00085d09967848b3878467669388811515739a52: 100 ETH (used 0 ETH so far) + 0xc6090117186ae093f528689927e0c6b4738fb291: 650 ETH (used 650 ETH so far) + 0xe93c3f5548e6967046c56aadea1a8a9afa90c33e: 650 ETH (used 650 ETH so far) + 0x3d95674e5a52b39b5f9a3633c88690de9585fcc6: 500 ETH (used 500 ETH so far) + 0xe547f9d6cf793d197dab8cf4f2a8c8c7f9ba63b8: 500 ETH (used 500 ETH so far) + 0x9d61fe8c9c766be8a12d2405da18797059a59036: 350 ETH (used 350 ETH so far) + 0xad02aee7353c4d5c35a05725aba811d4ea88ae4a: 350 ETH (used 350 ETH so far) + 0x005fac7a59e2008acc2c8e132faa8dde606ed0cb: 1000 ETH (used 1000 ETH so far) + 0x007c5b29b40ed7fd691b0cd2430751f9e4831697: 2000 ETH (used 2000 ETH so far) + 0xeb68aa2764b4a9a943658b2e61db4c902b2ebf85: 7693 ETH (used 7692.99 ETH so far) + 0xa65e9fec4f892ef6e9fe3888ed9b0eb6aab1f0fd: 6000 ETH (used 5999.05 ETH so far) + 0x2840c1162114780f3b617b030621022571c2bcb0: 25000 ETH (used 25000 ETH so far) + 0xfe5fb336166cc6e55af9ae922ebc952f3de42327: 25000 ETH (used 25000 ETH so far) + 0x2d0efca5e73e90c7707931678dfaef38c068ac10: 1500 ETH (used 1500 ETH so far) + 0x00e3fd9efefafdd1032b2540c02d45aa68c3d587: 5000 ETH (used 5000 ETH so far) + 0x00f1ca994227a6ed2fdc86f68a7cd72f95fd873a: 680 ETH (used 680 ETH so far) + 0xcc89405e3cfd38412093840a3ac2f851dd395dfb: 500 ETH (used 500 ETH so far) + 0x00d3b51fe558ee09c3ba4f9a3eb10053f855b2eb: 11757 ETH (used 11757 ETH so far) + 0x008fdad031b1236c58561477a585d7ce7df834c4: 550 ETH (used 550 ETH so far) + 0x0080cdc66a5a0d17745de6e12fbc5fecb6b5460a: 3000 ETH (used 2999.9 ETH so far) + 0x00ac1c84d1d0a2eaf6e8f504c7c96e6e82cb6333: 30000 ETH (used 29999.9 ETH so far) + +I have been looking a bit at the source code for the Status ICO. When you send ether to the contract you either end up in the buyNormal() function or in the buyGuaranteed(). buyNormal() enforces a maximum gas price of 50 gwei, but buyGuaranteed() does not. + +The list of guaranteed buyers and their associated limits have been set beforehand by calling setGuaranteedAddress(). This function also emits an event GuaranteedAddress(). I created the above list from those events. I haven't checked yet how many of those buyers have already made use of their limits. + +If you are a 'normal' buyer: The contract definitely enforces 50 gwei maximum gas price and also rejects your transaction if you already sent another one less than 100 blocks ago. So if you feel like 'trying again', you should probably switch to a different address or wait 100 blocks. + +**Edit**: I updated the list with amounts that each address made use of. Looks like it's mostly done - so from now on it's even playing field regarding gas prices and anything over 50 gwei won't work. +**SUMMARY** + +Segregrated Witness (SegWit) was activated on the Bitcoin network August 24, 2017 as a soft fork that is backward compatible with previous bitcoin transactions ([Understanding Segregated Witness](https://thewalletgenius.com/understanding-segwit-segregated-witness/)). Since that time wallets and exchanges have been slow to deploy SegWit, some admitting in December 2017 that they have not even started work. If users demand SegWit now it will temporarily releive the transaction backlog while bigger solutions like Lightning are developed. + + +_________________________________________ + + +**TODAY's NEWS/DEVELOPMENTS/VICTORIES** + +- [Conomi promises SegWit "in a few days"](https://www.reddit.com/r/Bitcoin/comments/7mhe33/coinomi_we_are_releasing_segwit_in_a_few_days/) +- [Bitpanda implements Segwit!](https://www.reddit.com/r/Bitcoin/comments/7m2sh9/bitpanda_update_segwit_implementation_bitpanda/) +- [Pirate Bay provides a bech32 SegWit address](https://www.reddit.com/r/Bitcoin/comments/7m26vv/the_pirate_bay_gets_it/) Which one of you emailed them to request this ;) +- [Spreading the message to Twitter: Daily Reminder: switch to segwit wallets and exchanges immediately](https://www.reddit.com/r/Bitcoin/comments/7m0y9h/daily_reminder_switch_to_segwit_wallets_and/) +- [Segwit adoption increasing! Please help to raise awareness!](https://www.reddit.com/r/Bitcoin/comments/7m1vah/segwit_adoption_increasing_please_help_to_raise/) +- [Spread the word and help the SegWit adoption. Also have fun;)](https://www.reddit.com/r/Bitcoin/comments/7m37dl/spread_the_word_and_help_the_segwit_adoption_also/) + +______________________ + +**MEMPOOL/SEGWIT STATISTICS** + +- [BitInfoCharts.com - Average Transaction Fees](https://bitinfocharts.com/comparison/bitcoin-transactionfees.html#3m) - $40USD per Tx (down from $55) +- [Blockchain.info - Unconfirmed Transactions](https://blockchain.info/unconfirmed-transactions) - 173K Unconfirmed Tx's (down from 274K) +- [SegWit Charts](http://segwit.party/charts/) - 10% SegWit Tx's + +__________________________ + + +**BACKGROUND** + +Subhan Nadeem has pointed out that: + +[If every transaction in the Bitcoin network was a SegWit transaction today, blocks would contain up to 8,000 transactions, and the 138,000 unconfirmed transaction backlog would disappear instantly. Transaction fees would be almost non-existent once again](https://hackernoon.com/bitcoin-owners-you-need-to-do-these-two-things-right-now-a73122dd23d4). + +A few thousand bitcoin users from /r/Bitcoin switching to making their next transactions SegWit transactions will help take pressure off the network now, and together we can encourage exchanges/wallets to rapidly deploy SegWit for everyone ASAP. Let's make 80%+ SegWit happen fast. You can help by taking one or more of the action steps below. + +___________________ + +**ACTION STEPS** + +1. If your favorite wallet has not yet implemented SegWit, kindly ask them to do so immediately. In the meantime start using a wallet that has already implemented SegWit. +2. If your favorite exchange has not yet implemented SegWit, try to avoid making any further purchases of bitcoin at that exchange and politely inform them that if they do not enable SegWit within 30-days they will lose your business. Sign-up for an account at a SegWit deployed/ready exchange now and initiate the verification process so you'll be ready to bail +3. Help educate newcomers to bitcoin about the transaction issue, steer them towards SegWit wallets from day one, and encourage them to avoid ever purchasing bitcoin through non-SegWit ready exchanges that are harming bitcoin. +4. Spread the word! Conact individuals, websites, etc that use bitcoin, explain the benefits of SegWit to everyone, and request they make the switch + +IMPORTANT NOTE: The mempool is currently still quite backlogged. If you are a long-term holder and really have no reason to move your bitcoins at this time, wait until the mempool starts to clear and transaction fees go down before moving your bitcoins to a SegWit address or SegWit friendly exchange. + +__________________________ + +**SELECTED TOP EXCHANGES BY SEGWIT & BATCHING STATUS** + +| Exchange | Segwit Status | Batching Status | +|---------------------|---------------|-----------------| +| Binance | *NOT READY* | **Yes** | +| Bitfinex | Ready | ? | +| Bitonic | Ready | ~~?~~ **Yes** | +| Bitstamp | **Deployed** | **Yes** | +| Bittrex | ? | **Yes** | +| Coinbase/GDAX | *NOT READY* | No | +| Gemini | Ready | No | +| HitBTC | **Deployed** | **Yes** | +| Huboi | ? | ? | +| Kraken | Ready | **Yes** | +| LocalBitcoins | Ready | ? | +| OKEx | ? | ? | +| Poloniex | ? | **Yes** | +| QuadrigaCX | **Deployed** | **Yes** | +| Shapeshift | **Deployed** | No | + +[Source 1](https://bitcoincore.org/en/segwit_adoption/) + +[Source 2](https://www.reddit.com/r/Bitcoin/comments/7kherf/what_exchanges_batch_there_withdrawal_txs_to_save/) +___________________ + +**SELECTED WALLETS THAT HAVE SEGWIT ALREADY** + +Make sure you have a SegWit capable wallet installed and ready to use for your next bitcoin transaction + +| SegWit Enabled Wallets | Wallet Type | +|------------------------|-------------| +| Ledger Nano S | Hardware | +| Trezor | Hardware | +| Electrum | Desktop | +| Armory | Desktop | +| Edge | iOS | +| GreenAddress | iOS | +| BitWallet | iOS | +| Samourai | Android | +| GreenBits | Android | +| Electrum | Android | + + + +______________________ + +**FAQs** + +If I'm a HODLer, will it help to send my BTC to a SegWit address now? + +- No, just get ready now so that your NEXT transaction will be to a SegWit wallet. Avoid burdening the network with any unneccessary transactions for now. + +Can you please tell me how to move my bitcoins to SegWit address in Bitcoin core wallet? Does the sender or receiver matter? + +- The Bitcoin core wallet does not yet have a GUI for its SegWit functionality. Download Electrum v3.0.3 to generate a SegWit address. + + A transaction between two SegWit addresses is a SegWit transaction. + + A transaction sent from a SegWit address to a non-SegWit address is a SegWit transaction. + + A transaction sent from a non-SegWit address to a SegWit address is NOT a SegWit transaction. You can send a SegWit Tx if the sending address is a SegWit address. + + [Source](https://howtotoken.com/explained/send-bitcoin-faster-cheaper-SegWit-transactions) + +What wallet are you using to "batch your sends"? And how can I do that? + +- Using Electrum, the "Tools" menu option: "Pay to many". + + Just enter your receive addresses and the amounts for each, and you can send multiple transactions for nearly the price of one. + +Why doesn't the Core Wallet yet support SegWit? + + - The Core Wallet supports SegWit, but its GUI doesn't. The next update will likely have GUI support built-in + +Why isn't a large exchange like Coinbase SegWit ready & deployed when much smaller exchanges already are? Why do they default to high fees? Where is the leadership there? + +- Draw your own conclusions based on their own words: + + [March 2016 - Coinbase CEO Brian Armstrong has reservations about Core](https://blog.coinbase.com/what-happened-at-the-satoshi-roundtable-6c11a10d8cdf) + + [Dec 2017 - Coinbase is STILL working on Segwit](https://blog.coinbase.com/bitcoin-segwit-update-3ab0484e4526) + + + +____________________ + +**SEGWIT BLOG GUIDES** + +- [HowToToken.com - How To Send Bitcoin Faster And Cheaper Over SegWit Transactions](https://howtotoken.com/explained/send-bitcoin-faster-cheaper-SegWit-transactions/) + +______________________ + +**PREVIOUS DAY'S THREADS** + +There's lots of excellent info in the comments of the previous threads: + +- Day 1: [If every Bitcoin tx was a SegWit tx today, we'd have 8,000 tx blocks & the tx backlog would disappear. Tx fees would be almost non-existent once again. THE NEXT BITCOIN TX YOU MAKE, MAKE IT A SegWit TX. DOWNLOAD A SegWit COMPATIBLE WALLET AND OPEN A SegWit COMPATIBLE EXCHANGE ACCOUNT RIGHT NOW](https://www.reddit.com/r/Bitcoin/comments/7kyzxn/if_every_bitcoin_tx_was_a_SegWit_tx_today_wed/?utm_content=comments&utm_medium=user&utm_source=reddit&utm_name=frontpage) +- Day 2: [I will repost this guide daily until available solutions like Segwit & order batching are adopted, the mempool is empty once again, and transaction fees are low. You can help. Take action today](https://www.reddit.com/r/Bitcoin/comments/7l9tda/day_2_i_will_repost_this_guide_daily_until/) +- [Day 3: ARE YOU PART OF THE SOLUTION? News: Unconfirmed TX's @ 274K, more exchanges adding SegWit, Core prioritizes SegWit GUI](https://www.reddit.com/r/Bitcoin/comments/7ljpf5/day_3_i_will_repost_this_guide_daily_until/) +- [Day 4: Unconfirmed TX's @ 174K](https://www.reddit.com/r/Bitcoin/comments/7m6zd0/day_4_i_will_repost_this_guide_daily_until/) + +Edit: Bitonic batching status updated to 'Yes' + +Would any of you be interested in weekly updates starting next week? +I plan on buying calls for some health care stocks which is the only sector I believe hasn’t had an absurd run up. If I can’t find contracts for the desired 100 limit I will increase it to 150 and at maximum 200 +If you have any suggestions for tickers I should buy contracts for place it in the comments. + +Any feedback is appreciated +SO and I sitting (and continuing to save) on a decent pile of savings (150k) trying to figure out what to do with the prospect of potential persistent inflation, been umming and ahhing a while about what to do like put it into a house or invest more in shares (have some in there already). + +Anyone else thinking what to do? I feel like it’s a bit of analysis paralysis at the moment with record high housing prices and very high share prices, and then inflation creeping ever closer as well as other factors happening globally. + +Discuss! +Merry Christmas everyone. I'm coming on 30 and as titled am going to be volunteering out bush for a year. There will be no internet access and I think no phone coverage. + +I've about 4k in a CBA savings account and car which I fully own. No medical insurance for myself and plan to be continuing comprehensive insurance for the car (although I won't be using it much as I'll be living on site). + +Other than cancelling spotify and such things, what ought I to be doing? Anyone have tips for basically not being in contact with civilization for half the time? + +Edit: +I also have signed up to Ambulance Victoria's 3 year coverage thingo. +SO and I sitting (and continuing to save) on a decent pile of savings (150k) trying to figure out what to do with the prospect of potential persistent inflation, been umming and ahhing a while about what to do like put it into a house or invest more in shares (have some in there already). + +Anyone else thinking what to do? I feel like it’s a bit of analysis paralysis at the moment with record high housing prices and very high share prices, and then inflation creeping ever closer as well as other factors happening globally. + +Discuss! +Ok - I could have also named this "help me make my kids & grandkids trust fund babies"... + +I'm a big believer in Yang-style UBI (universal basic income). I also have zero confidence our nation would ever go for it. + +I'm also a big believer in the principles of work and savings that have led us all to financial independence movement itself. The hard part of the standard FI approach for me, though, is the idea to retire as young as you can and deplete all or most of your assets over the rest of your life. + +Has anyone here done calculations -- using the principles of FIRE -- how you could live leanFIRE or regularFIRE on a fatFIRE nest egg and leave multi-generational income stream behind? +Am I missing something? When I search realtor.com and Zillow for foreclosures, there are no results in my area (Lexington KY). Everything I see online says all the foreclosures moratoriums are expired. Being a decent sized city, I expected to find some. +Last week two friends of mine, asked me for advice since they wanted to start investing. Today my GF just told me she had been thinking of investing some money. + +They all know I've been an investor for a long time, but I swear we have never discussed investing or anything related to the stock market before. + +By the way, you can imagine how this conversations went: "I've heard that it's a good time to invest", "I just read that Netflix and Zoom are benefiting from the pandemic", " what about companies investigating a vaccine, they will become rich", "a friend of my friend is an investor in Tesla and had make thousands of Euros", "how can I buy stocks, do I use my bank account"... + +Don't you think maybe it is time to think about what Joe Kennedy said just before the stock market crash in 1929: "You know it's time to sell when shoeshine boys give you stock tips. This bull market is over.”  + +Edit: I just typed "how to invest in stocks" in Google Trends and I was amazed at the graph, it seems like searches are rising exponentially! +>NVIDIA today announced that its board of directors declared a four-for-one split of NVIDIA’s common stock in the form of a stock dividend to make stock ownership more accessible to investors and employees. +> +>The stock dividend is conditioned on obtaining stockholder approval at the company’s 2021 Annual Meeting of Stockholders ― to be held virtually on Thursday, June 3, at 11 a.m. PT ― to increase the number of authorized shares of common stock to 4 billion shares. +> +>If approval is obtained, each NVIDIA stockholder of record at the close of business on June 21, 2021, will receive a dividend of three additional shares of common stock for every share held on the record date, to be distributed after the close of trading on July 19, 2021. Trading is expected to begin on a stock split-adjusted basis on July 20. + + [NVIDIA : Announces Four-for-One Stock Split, Pending Stockholder Approval at Annual Meeting Set for June 3 (Form 8-K) | MarketScreener](https://www.marketscreener.com/quote/stock/NVIDIA-CORPORATION-57355629/news/NVIDIA-nbsp-Announces-Four-for-One-Stock-Split-Pending-Stockholder-Approval-at-Annual-Meeting-Set-33321310/) +Everyone knows about the top liquid funds, but FT-UST had a special place in most debt fund portfolios looking for that edge in getting 8-9% returns.. + +It was not uncommon for investors to have over 50% of the debt folio concentrated in Ft-UST + +But since Voda issue emerged, diversification has become important, and rest of the debt fund space is a bit murky + +Some of the funds Ive picked out based on high AUM (indicating good corporate investors backing) are + + +1. ICIC prudential savings fund (low duration) + +2. Aditya Birla Sun Life Corporate Bond Fund + + +3. IDFC Corporate bond + +4. Aditya Birla savings fund (UST) + +5. HDFC low duration fund + +6. HDFC corporate bond fund + + +7. HDFC credit risk fund + + +Which of these funds/fund houses and associated managers have good reputation? + +Also any other debt funds worth looking at? +Everyone saw this post: + +[https://www.reddit.com/r/Superstonk/comments/oh60ea/gme\_nft\_developler\_clarifies\_that\_there\_is\_no\_set/](https://www.reddit.com/r/Superstonk/comments/oh60ea/gme_nft_developler_clarifies_that_there_is_no_set/) + +And then there is this post right below it: + +[https://www.reddit.com/r/Superstonk/comments/oha4cx/hes\_not\_playing\_4d\_chess\_hes\_playing\_enders\_game/](https://www.reddit.com/r/Superstonk/comments/oha4cx/hes_not_playing_4d_chess_hes_playing_enders_game/) + +and this one too: + +[https://www.reddit.com/r/Superstonk/comments/oh6mbq/matt\_finestone\_head\_of\_blockchain\_at\_gamestop/](https://www.reddit.com/r/Superstonk/comments/oh6mbq/matt_finestone_head_of_blockchain_at_gamestop/) + +There is also a comment by [u/NotFromReddit](https://www.reddit.com/u/NotFromReddit/) on the the first post that everyone should read. I am also a software developer. + +I don't think our hype was misplaced. They probably are trying to build a blockchain system that will literally replace the DTCC when Citadel can't issue our fucking dividends. As a software developer for over a decade now, I just want to say that I don't think I've ever seen a project completed on time. Ever. They say a project can be delivered On Schedule, On Budget, or Bug Free but you can only pick two. + +I love hype dates. I know people get upset being let down, but they are essential to our community. Some people don't like them and that's fine, for some of us, reading the DD and the theories and getting hyped and let down over and over again is half the fun. + +In this case, RC and crew just prepped you for a let down. That says a lot. They are in touch with community, saw the amount of hype this specific date was generating, and are throwing us the proverbial bone. They just confirmed they have a team built and assembled and they are working away but don't want to give any dates as to when they'll be ready. This is typical of any good software developer. Hell, he could even still be on target for the scheduled date, but doesn't want to commit because its fucking software development. A bug that pops up can take 10 minutes or 10 weeks to properly fix. You just don't know sometimes. + +Just my 2 cents. Stay hyped my dudes. Remember the core tenant of our strategy has never changed: Buy and Hold. How you want to have fun doing that is up to you, but be mindful that we all get amped in different ways and that's the beauty of being and ape. We are individuals of all types and goals with a common investment strategy. +I have an extra 4k that I can invest would it be wise to invest in JEPI and use the dividends to buy other stocks? I'm still somewhat new to all of this so if you have any other suggestions I'm all for it. +VYM = Vanguard High Dividend Yield ETF - [https://investor.vanguard.com/etf/profile/VYM](https://investor.vanguard.com/etf/profile/VYM) + +Most of my portfolio is in growth stocks, (VTSAX+VTIAX) and I have become interested in dividends and would like to throw any extra money I have in them + +Would I be going wrong to put it in VYM? I would keep the growth funds but this would be purely extra money. I would prefer one fund over picking several individual stocks + +What are your thoughts on VYM? It seems like the dividend yield is around 3.7% but it also the stock value itself has seen growth +Some background, I am 27 working as an Accountant (industry, no CPA) in a HCOL area making about 70k/year pretax. Last year my expenses were split about 35% needs, 15% wants, 50% savings. No kids/house and no plans on either (spouse agrees) I discovered FIRE about 3 years ago but thanks to family being financially knowledgeable I have been investing since 21 when I entered the workforce + +Something that is often talked about is how especially in the early years, the growth of your portfolio has more to do with contributions than how the market is doing. Because of this, it seems like the fastest way to "jumpstart" your FIRE journey is to save aggressively for many years early on and then once compounding starts to have more of an impact, back off some and let your money work for you. + +This is where my conundrum comes in. At what point do you start to back off? One year of aggressive savings early on can easily shave several years off of FIRE and early in life the future value of a dollar is incredible. This can often make it hard to justify buying things with a higher price tag such as trips, upgrading my computer (6 years old), etc. I have found in the short term this isn't a big deal, but over several years it starts to wear on you. I am not miserable, or anything, more just feel like I live in a bit of a groundhogs day, and considering how even a couple more years of this could shrink my fire date by 5+ years it can feel hard to justify lowering my savings rate by anything significant. + +Have any of you dealt with this? The one more year syndrome of a high savings rate early in your saving careers? How did you start to wean yourself off to something more "reasonable". +Has anyone noticed a decline in nearly all food type businesses? Whether it be coles/wooles 1/4, 1/2 etc roast chickens looking like shrivelled up prunes, KFC's wicked wings looking closer and closer to popcorn chicken by the day, or restaurants reducing portion size or ingredients used. + +I realised this post lockdown (melbourne) but still during covid, where we all had to produce vaccine passes, wear masks, and sit as socially distanced tables, my partner and i visited our favourite restaurants due to being starved of the experience. It seemed like cheaper ingredients were substituted in, or the sushi roll that was once 6 pieces was now 4, etc. It made sense due to it being hospitality and being immensely impacted due to covid. + +Now it just seems across the board though, any food business is cutting corners, take away containers that used to be bursting are now 3/4 full, menu items are the same price but substitute cheaper ingredients in, it seems food business is scraping the barrel to provide pre-pandemic product at price levels matching inflation. + +What's everyones experience lately as I don't know if going mad or this is an early sign of economic times to follow. +My partner and I (DINK) are at stages in our careers where the earnings after tax really begin to plateau. We will be able to comfortably achieve chubbyFIRE soon enough but I feel that once you get past a NW of 2-3m their are fewer and fewer jobs/careers that can offer an income that would make a meaningful contribution. + +To get past this stage I personally am considering a move into property development. I was curious to hear if other people had made this move or had overcome this barrier in other ways? +I've been having some inner conflict about this recently. I had kind of a realization that the main reason I have been planning out an FI track the last couple years is because I am too lazy and undisciplined to focus on my profession and career growth, and the associated sacrifices. Not because I want the freedom to pursue other endeavors. + +I have a pretty great career (aerospace engineer) which is relatively high paying but to be honest I really don't care about it outside of the occasional interesting challenge. I am a good worker but I essentially have no interest in advancing and 'climbing the ladder'. I have an inkling it is for negative reasons, like that I am unconfident in my abilities and the competitiveness, so rather than try to play the game I resign to the fact that I am where I am, but that I can focus on saving (the easier sacrifice to me), and check out entirely 20+ years ahead of everyone else. + +I really do not relate to my peers' focus and hustling in their careers. Even while finding my work engaging and challenging at the end of the day in the office I'm thinking "what the hell am I doing here". I feel ambivalent about it, like I should be focusing passionately on something rather than just accepting my current trajectory to retirement, but I also don't feel particularly drawn to anything else. Other than just simply not having to go to work. Is this a normal attitude to have? are others simply better at faking it and disciplining themselves to care? I could use some wisdom if this seems relatable. + +Yesterday, I sat with my husband and had an easy going conversation about what our family goals should be for the upcoming year. One of the goals I mentioned to him and want to work on is reducing food cost (eating out/ groceries). + +I started following Dave Ramsey a few years ago and have really grown up financially. I feel like we’ve made big changes and are moving in a good direction. We are still in baby step 2. We have zero credit card debt and zero car payments (2 vehicles). The only debt I have is a loan 20k. I took out the loan against my TSP to help my husband buy back his military time and the other debt is our mortgage. I mention all this to say, It’s been a few years that I’ve kept an organized budget book. + +With yesterday’s conversation in mind. I started adding all the food expenses from Jan 01, 2021 until today. Food only (grocery stores and eating out at restaurants / fast food joints) we’ve spent $18,743.89 + +Yes $18,743.89… I am so shocked and sick of myself. Wtf ??? Like what the f?!!!! +I am changing this, there is no way I am going to let another year go by with this behavior. I plan to change this by meal planning for my family (family of four). On a weekly basis and eating out 2 times a month. I want to go to the grocery stores with a list to be better organized. + +Just a reminder to review your budget, there is always the chance of improvement. + +Sorry for the improper grammar typing from a mobile and a bit flabbergasted. SMH + +Edit: a few people have asked me what buying back his military time is? My husband left the military after 10 years of service afterwards he became a fire fighter. The state we live in allows prior service members to buy up to 6 years. Once it is paid in full those 6 years are added towards his retirement for the fire department. I hope that makes sense. + +Also thank you ALL for your input. This is my first post and I am paying attention to the good advice. +It’s my first credit card and I’m looking to use it as a joint card with my partner for groceries, bills, life etc. How do people find it for this use? +I have a decent paying job and my wife and I can probably retire in the 50-55 range if we are reasonably frugal, which we are. My job is 8 hrs, regular work week, lots of vacation and benefits....but I hate it. Every day here is miserable. + +&#x200B; + +Why? + +&#x200B; + +Because I have nothing, really to do. I have a series of tasks that I may or may not be asked to accomplish. Nothing to contribute, nothing to achieve. No sense of pride or personal value. I will do the same thing next week as I did last, and the same in 10 years. 20 years. And I'll mostly surf the web for at least 50% of my time. It's killing me to be so...unnecessary. I collect samples at a chemical plant. That's it. + +&#x200B; + +I'd love to go back to school and get a trade, but is the working world really any better for anyone else? The worst problem I have with my job, and literally every job that I've ever had, is that I am bored, most of the time, just wiling away the hours until I can go home. I'm wishing away my life so that I can 'retire', only by the time I get there, my kids will be moved out and I'll have had an empty life of misery behind me. So what was really the point? Am I going to restart at 55, or be to ruined from living 25 years with my brain switched off, and not have the power to boot up again? + +&#x200B; + +I sat in a meeting this morning while the power's that be argued about how to micromanage our time, and was literally thinking how I could go about breaking my own arm so that I could access a few weeks of paid sick leave. That's really not what I want out of my working years. + +&#x200B; + +That said, it's totally stable and secure, and I'll never have to worry about money as long as I work here. + +&#x200B; + +Which is worse? Are things really better out there? I hear so many horror stories about others' jobs. And I have never enjoyed any job I've had so I have trouble envisioning that change could be an improvement. + +&#x200B; + +Is the grass really greener on the other side of the fence, or is it only because I'm not over there fucking it up? +[https://twitter.com/JCap\_Research/status/1359653781395316737](https://twitter.com/JCap_Research/status/1359653781395316737) + +&#x200B; + +A lot of their claims seem absolutely fictitious. For starters: + + 1. Verisk and insurance related risks have already been accounted for due to the lawsuit that ensued. + +2. Ross Norgard sold his shares down by force of margin call post divorce. + +3. Competitive tenders are perfectly normal and I can show some where Nearmap competed with Eagleview and won. + +4. "Hacking" the system to reduce bandwidth consumption of their mapping is no hacking. Exporting to ESRI is perfectly normal consumption. + TL:DR + +This is my DD on MGX, I am a value investor and I pick stocks that match my definition of undervalued and low risk with bag potential. Please DYOR before buying any stonk you see on ASX\_BETS!!!! + +## Who are they and what do they do? + +*Mount Gibson Iron Limited (ASX:MGX), together with its subsidiaries, engages in the mining and processing of hematite iron ore in WA, Australia.* + +SP: 41c +MC: $504m +Category: Iron commodities, Value Investing, LOW RISK + +## The Good Shit + +\- Current share price is **cheaper** than the value of tangible assets per share + +\- Current share price is 72% backed by **CASH**. + +\- Company has been **profitable** for >5 years + +\- **Minimal debt**, fully serviceable with their cash reserves + +\- Regular dividend payout well covered by earnings + +## Why has the share price dropped so much? + +1. Fall in iron ore prices + The price of iron ore commodities has fallen from a high of $219.77 USD/T in July 2021 to a low of $116.47 USD/T in the last week. This is largely due to a trade retaliation from China, who has forced its steel industry to reduce output, most likely in response to Australia’s nuclear submarine deal with the US, among other political jabs and prods at China. + +This has brought down the share prices of the entire iron ore sector in what could be described as a panic sell. However, what most people have missed is that MGX’s main mining project was developed while expecting profit with Iron Ore prices falling to $80 USD/T, meaning the company still has a healthy profit margin. + +2. Possible short selling activity + +The MGX price began to drop around August, a bit before the iron ore sector dropped. At that point there was no real explanation as to why, so I speculate it was short selling pressure. + +## Why is it a good time to buy? + +The Net Tangible Assets (NTA) per share is ABOVE the current share price, meaning the share is **undervalued**. Furthermore, the company has managed their debt well, meaning they are very unlikely to go insolvent. + +Current Market cap: 504m +Gross Profit in last FY: 121.19m +Current Share Price: 42.5c +Shares on issue: 1,187,980,278 +NTA (includes cash below): $719.7m +Cash + Short Term Investments: $364.7m +Amount each share is backed by Net Tangible Assets = 60.5c + +According to FY2021 Appendix 4E and Statutory Financials ([https://www.mtgibsoniron.com.au/wp-content/uploads/2021/08/MGX-2020-21-Financial-Report-Final-Signed-and-Audited-plus-Appendix.pdf](https://www.mtgibsoniron.com.au/wp-content/uploads/2021/08/MGX-2020-21-Financial-Report-Final-Signed-and-Audited-plus-Appendix.pdf)) + +## Current Mining Projects + +### Koolan Island + +The Koolan Island mine is in the Buccaneer Archipelago, WA. This project is currently in its early phase, stripping processing bulk waste and reinforcing the mine structure to *facilitate increased ore production, sales and cashflow from the second half of financial year 2021/22* onwards. + +The stripping phase of mines always tend to have high costs and inconsistent production as the quality of iron ore is variable. The project is still generating earnings before interest and tax of $104,115,000 and is expected to be even more profitable following its completion in \~Dec 21, where it will be able to drill into significant quantities of high-grade iron ore. The good stuff is coming! + +### Other Projects: Shine/Extension Hill (Midwest) + +The earnings before interest and tax were $19,542,000 for this financial year. Don’t expect much news from these 2 projects. Extension hill is in late rehabilitation stage and Shine is operating with a steady profit, projected mine lifespan of 2 years with the possibility of an additional 2 years. + +## What could affect the price? + +While I expect a slow climb back up to \~$1.00 per share over the next 3-6 months, there are some factors to consider which may make the share price volatile in the short term. + +Iron Ore prices: Although the iron ore prices have been accounted for within the company, it is likely that a further drop in iron ore prices will trigger sell-offs in the iron sector. We may also see a rise in Iron Ore prices if major producers like BHP/Rio Tinto reduce supply. + +AUD vs USD: Just remember as an Australian company selling commodities valued in USD, we want a weaker Aussie dollar vs US dollar. + +Political relationship with China: While its quite doubtful that the current LNP will seek to repair relationships with China, it is quite possible that if the ALP were to win the next election cycle, we could see favourable trade agreements set up. + +Buy back: This is the super tendies rocket ship that I’m secretly hoping for. A company with such high cash reserves and low share price may issue a Buy Back, which will trigger a huge increase in price as more investors do fundamental analysis into this company and realise it is undervalued. + +. + +. + +Thanks for listening and remember to fuck off if you think any of this is financial advice 🚀🚀🚀 +The DD on MYE I did the other day was cathartic. Seemed to help me crystalize my conviction. Making my thoughts explicit also holds me accountable in future when the dust settles. + +That gave me the idea to do a DD here on a pick I did last year, am still holding, and I think is still an opportunity. + +Disclaimer as with anything here: I’m retarded. But you’re more retarded if you don’t do your own fucking DD, so fuck you if you think this is advice. But without further ado, I present to you… + +# Myer (MYR) + +**The Department Stores Question** + +Let’s address the obvious elephant first. Are department stores a dying business model? + +Answer: No. + +Pack it up boys we're done. + +That being said, a lot of department stores are going to go bankrupt and already have. If mature business models are all about market share, then it matters if the market gets smaller. Whether or not there is a market later on is the real question here, and I think that there will always be a market for in-person shopping. Further to this, I think there will always be a market for the anchor style destination stores with diverse home goods, clothing, and accessories. + +My opinion, yeah. But if you do not believe me, then it would seem instead the position is that that all brick-and-mortar retail is dead. Smaller specialty stores exist on foot traffic from the larger anchor stores. If the big anchor department stores die, it’s reasonable to expect the smaller shops to flounder too. Grocery stores are a pseudo anchor, but after you go grocery shopping you don’t tend to stick around, so it isn't quite the same. Ultimately the position is that online shopping accounts for more or less *all* consumer discretionary spending. + +I think this thesis has some merits. Online shopping has been a growing rapidly. Every year more and more people decide to take their purchasing online. That is true. However, to believe that online shopping will completely replace in-person shopping would seem to indicate that there are no inherent disadvantages to online shopping and conversely, no advantages to brick-and-mortar. + +Stepping back a level and looking it at a meta level. The pie of consumer discretionary is shopping and it’s not a zero-sum game. Online has increased its share. When it’s convenient to shop online, or when there are advantages to doing so (e.g. better selection of products), online will succeed. I think that’s why you see electronics and books really take off in that space. But there are also some real disadvantages to shopping online. + +* Example 1: I bought a pair of Olympic weightlifting shoes last year online. I really wanted try them on first, but these things unfortunately are not commonly held in stock in the normal shops in Aus. I ordered online figuring I can return them if need be. Problem is they were too small and it took me a long time to realize that. Well past the return date. Either way, it’s a fucking hassle to return shit too, whatever way you slice it. I would have preferred to buy it at a brick-and-mortar store so I could try different sizes and get the feel right. I just was forced online by the circumstances of the item, not my own preference. +* Example 2: I like fancy dress shirts. I own a good hundred or so. Having tried on and worn literally thousands of dress shirts, I know that size is only a very basic guide. Brand and cuts matter. Like shoes, you really really need to put a dress shirt on to know if it fits you or not. Maybe try a few sizes. I like getting to do this before I buy. This is the same for most clothes really. Slacks, jackets, not just dress shirts. And I am a dude. It’s much easier for a dude. For women, fuck me dead. +* Example 3: I once bought a few shirts off a company that sells them online. Presumably a pretty good deal price wise. No shipping. A lot of people recommended the brand in different forums. So I choose a few that seemed nice in the photos. They arrived. All good. But… I mean, I wasn’t entirely disappointed with what they looked like, but certainly I was surprised. Photos seemed much different. Then there was the fit of them. My shoulders were just not designed for the arm hole cut for these things. They looked great if I stood still with my arms at my sides, but otherwise were very uncomfortable. I’ve never bought shirts online since. + +In my own lived experience, there’s a place for brick-and-mortar. And I’m willing to spend a bit more if I don’t have to go through the hassle of returning shit in the mail and waiting weeks to finally get the shoe size right. Or end up with a dud of a set of shirts or clothes that I don’t like to wear. + +Then there is the whole other thing called browsing. Personally, browsing a website just doesn’t cut it. Until we can VR ourselves into a virtual shop front, I think browsing is only really possible if you’re in a store. + +I think online shopping works best if you know exactly what you want and you are just trying to find it. This is how I shop usually. I know what I want before I’m even in the store. I left my house to go to that specific store to find that specific thing. I don’t want to spend a minute longer doing anything else. + +My wife on the other hand doesn’t know what she wants. Half the time she goes to the shops and end up leaving with nothing at all because nothing really grabbed her attention. Why did she go to the store? Fuck if I know, but she wanted to “shop.” I guess I shouldn’t complain, because the other half of the time I see like 6 different charges from every known department store in Australia. I mean, I figure you could probably get all of that from one, but I’m evidently retarded. + +What about walking through the mall to find out about stuff you wanted but didn’t know you wanted? Aka. window shopping. This is typical during holidays when you don’t know what to buy and need some inspiration. How do you even do that online? I don’t think you can. + +What about going to the mall to go to the nice mid-tier restaurant that is based there? Then deciding to have a walk through the mall as part of the experience? + +All these things matter because it means that in-person shopping is a thing. The pie for shopping is being split between in-person and online, but there is always going to be a place for a brick and mortar because there are things that are annoying to buy online, there are things that are not practical to buy online, and there is the experience itself that cannot be replicated online. + +I would argue even further that the online and in-person dynamic is interrelated. Have you ever looked online for what you want and bought it in a shop? Or maybe vice versa? I certainly have done the former, in large part because I don’t want to wait for the shipping, or deal with the returns process as above. Online is as much an advertising platform as it is a virtual shop front in its own right. + +If at all anything, my point is that the idea that the department store is dead is a cliché and overblown idea. In-person shopping still has its place. The real question is not whether department stores will exist, but which department stores will exist. The slice of the pie of in-person shopping is shrinking without a doubt, so only the fittest and best positioned will survive. + +This is where we come to the question of Myer. + +**Profile** + +Everyone knows who Myer is, but if you are truly autistic: Myer is perhaps the most iconic name in Australia when it comes to shopping. Department store with over 100 years of history in Australia. Perhaps only Qantas could compete with it for the most well known Australian brand. + +They 60 stores around Australia in most of the major cities. Myer commands prime spots in many of the best malls in the country. And despite all the fuss about dying retail and so forth, they get millions of customers visiting their stores on a yearly basis and turn over billions in revenue. + +**Competition** + +Myer’s position in the marketplace is in mid to upper tier retail clothing and housewares. I think this is a good spot for them. It’s above the fray when it comes to the bottom of the market Kmart / Big W war to be the Walmart of Australia. + +David Jones is Myer’s real competition, but in some ways Myer side steps even that, given DJ tends to pitch to a hoity-toity crowd more so. Myer’s target demographic is much more solidly middle and upper-middle class. As such, I think Myer’s potential customer demographic is much larger than DJ and they face less of a threat of competition from DJ for customers. + +Furthermore, DJ is struggling, and while on the surface this would seem to indicate a flaw in the department store business model, I see it as indicating that Myer has weak competition, and is therefore better positioned to capture more of the market. + +On the flip side, DJ may find it harder to make headway with Myer’s customer base because DJ price themselves outside of the affordability of Myer’s target demographic. It’s easier to sell a bit down market than up. Myer could well be perfectly positioned to benefit from the demise of David Jones. + +Furthermore, and apart from all that, Myer in 2020 had 5 million ‘Myer One’ members, and they account for a large chunk of the revenue, so it would seem they have a solid and loyal customer base. + +**John King** + +In 2018, John King took over as CEO. His experience included reviving UK department store House of Frasier back in the late 2000s. A major part of that revival was building an online portal for the UK retailer. Unsurprisingly, under his leadership, Myer launched hard into the online space. + +Last year, Myer’s website accounted for close to 20% of the company’s revenue for FY20. It had grown by 61% off the prior year. COVID had a part to play in this increase, but the growth of its online footprint had been progressing rapidly and well before the lockdowns. The seeds had been planted 3 years prior and had been growing ever since. What COVID really did was demonstrate that Myer as a brand has legs outside of just being a bland department store in a mall. + +Recently Myer expanded on this theme by doing a deal with Amazon for click and collect. Time will tell whether that is a worthwhile investment, but it does potentially drive some foot traffic into the store, which can hardly be considered a bad thing, and I believe provides a further revenue stream for Myer. + +In addition to the online move, King was very quick to jump onto Myer’s dreary customer service problems in stores. Years of apparent neglect at executive levels led to arrogant staff that were difficult to even find on the sales floor. In the first year as CEO, King visited nearly every store in the country. He spent a day each week working the floor himself. + +He also took an axe to a bloated and top-heavy bureaucratic management team, slashing a large portion of the deadwood from the company. He reversed course on plans to expand the head office into expensive and under the circumstances inappropriately lavish high-rise. + +Similarly, King has taken many steps to reduce costs in the company overall by reducing some of the excessively large store footprints and exiting unprofitable product lines. He put a lot of focus into building up strong profitable brands rather than chasing net money losing sales. + +**COVID** + +Fast forward to the last 12 months. COVID has put every company through the wringer. Travel, Hospitality, and Retail took the brunt of it. These companies were essentially put through an intense and lengthy stress test. Companies that were in serious financial stress prior to the lockdowns were liable to fail. Myer did not. + +To be fair, they did post a loss, but it can be mainly attributed to impartments, aka intangible value changes. Looking at their cash flow Myer had top line revenue of 2.16 billion, gross profit of just under 1 billion (roughly 44% GP), and an EBITDA of 134.7 million. + +Their latest balance sheet shows them with 86million in cash on hand with receivables and inventory adding up to 407 million. That does look shaky with current liabilities of 659, but about 40% of that is debt which under the circumstances Myer should be able to juggle. No-one holding those bags wants Myer to fail. The fallout of losing an anchor store like Myer for places like Westfields and others would be significant. + +**Solomon Lew** + +This brings me to Mr. Retail himself, Solomon Lew. The guy is literally part of the World Retail Hall of Fame. Billionaire business man whose relationship with Myer goes back as far as his teens when he supplied dresses to Myer with his small clothing business at the time. He went on to become chairman of Coles Myer back in the early 00s before being ousted by the board. + +Since then, Mr Lew formed Premier investments. Premier is maybe best known for its retail brand Smiggle, but also owns Just Jeans, Peter Alexander, and several other well-known clothing brands. You may be familiar but Premier also trades on ASX under PMV. It's a $20 stonk. + +FY20 Premier had a record result, 29% up from FY19 despite COVID. The group generated 1.2 billion in revenue at a 61% gross margin. They’ve been growing and posting solid profit since the first year of operation. + +Why do I mention Solomon Lew? Well, he’s on the board of Myer. He has been for a while, and he’s been at odds with others on the board for most of that time. He launched a takeover attempt a few years ago to try to turn around the then sinking ship. + +His latest attempt to spill the board was at the end of last year. He was successful. One of the major institutional holders that had opposed him in the previous spill did an aboutface. And while there hasn’t been a lot of media attention since, it is evident Lew has taken the helm with the resignation of the previous chairman. + +This, in my opinion, is a very good sign for Myer. In part because Mr. Lew is one of the best retailers in Australia. It's also helped by the fact that Solomon Lew might be the biggest bag hodler in Australia right now. He put down 100 million dollars a few years ago to buy an 11% stake in the Myer. This is back when Myer traded for $1.20, so he’d be down about 75% on that 100mil right now. + +Long story short, Myer now has a legendary retail billionaire with some skin in the game and a personal connection to the brand now heading up the board. Indeed, Solomon Lew showed a glimmer of what might be to come when he played hard ball with the landlords last year over rent for his Premier brand stores. In a drag out fight with Scentre Group (Westfield) and other big landlords he managed to force them into some significant rental concessions. + +**The Fundamentals** + +But while all those good vibes are great, is Myer even making money these days? Answer: Yes. But barely. + +* The Good: 2.1 billion in revenue which produces about 300million in operating cash flow. The company owns about 2 billion in tangible assets. +* The Bad: It’s posted negative statutory net profits 2 out of the last 3 years. Both of which were massive losses (at least on paper) and has had negative growth most of the last 10 odd years. +* The Ugly: It’s racked up a 1.6 billion dollar debt between FY19 and FY20. 1,000% looks nice until you realise it’s the D/E ratio. + +To be fair, the underlying profit for the last 3 years has been positive. The right downs on intangible assets really make it look much worse than it is. The reality is that Myer has been improving it's underlying profit since 2017. + +Per share, the current financials works out to be $2.63 SPS, 23.4cents CPS, and 21cents BPS. FY20 EPS was in the negative due to the statutory write downs, so for the purposes of evaluation FY19 EPS of 5.1cents might be considered a reasonable figure to use as a substitute under the circumstances. + +Using these metrics and the typical valuation multiples in the same sector, Myer’s price could be fairly priced anywhere from 58cents (P/B), to 82cents (P/E), all the way up to $3.52 (P/S). Averaging just P/E & P/B, fair pricing shoots around 70 cents. Twice where it currently sits. That’s current valuation, mind you. + +**Historical Performance** + +Looking at the underlying profits under John King, Myer has been able to reverse the trend of negative growth in FY19. That positive trend was continuing in 1H20. During this time, Myer had cut its long-term debt in half and was building a stronger balance sheet. That is probably one of the reasons Myer was able to survive COVID thus far. It was able to draw on its sizable asset base for credit. + +Going back 5-10 years, Myer routinely posted 2.7-3.0billion in revenue. Net profits of 100+ million. It’s been a slow slide to where we are now. However, with a leaner operation and more adept leadership, it’s not unrealistic to imagine Myer building back to those levels. 2.7billin only 20% above its 2020 revenue, which keep in mind included shutting down stores for a couple of months. + +Myer’s boasted a market cap of 1.5 billion in its first few years on the exchange. Their share price managed to get in the high 3-dollar range. A similar market cap now would put their share price solidly in the $2 dollar range. + +As mentioned, their revenue is only 20% less than what it was back then, even with COVID throwing a wrench. When compared to the 80% gouge in their market cap, it makes you think that a more fair pricing estimate of 70cents is probably not far off the mark. Indeed, it makes me question why everyone is so pessimistic about the company in general. + +Though, we know why. Department stores. That and now the debt. Thinking about it, I expect the exceptionally low share price right now is pricing in the immediate uncertainty over Myer being able to service its debt, combined with its ultimate future in retail. This just means it makes it a risky spec. But it also means a valuable one, since it’s well and truly below an otherwise blind evaluation of its intrinsic value on its metrics alone. + +**Servicing the Debt** + +If we projected out a conservative 2-3 years of continued progress on the turnaround, it’s reasonable to foresee Myer back at 2.7 billion revenue. They would only need to grow about 7-10% per year. And considering in FY19 they posted 2.5billion without COVID locking down their stores for months out of the year, it also seems reasonable to expect a big bounce in the first year of full open operations. + +With a 2.7 billion revenue at similar operating margins as FY20, they would be pulling in around 400 million in operating cash flow. This is in line with historical results. That would put their metrics at: $3.30 SPS, \~10cent EPS, with maybe 30cent BPS (factoring small improvement to equity as they pay down debt). That puts fair value around 1.25 to 2.30 depending on how much you weight P/S. + +In reality, sales growth would shrink fixed costs as a percentage, and so their overall position would improve more dynamically. Further cost cuts and potential improvements in margin with the stronger AUD reducing imports costs on clothing would also have a major effect on the bottom line. Then there is the opportunity improve the overall operational position through concessions from landlords who would be shooting themselves in the foot by killing off an important anchor to their malls. + +**The Future of Myer** + +At this point we enter pure crystal ball gazing on potential moves Myer could make strategically. Trying to get much from this is as meaningful as pissing in the wind I suppose, but I do think that Solomon Lew and John King both show in their own history the likely path forward. + +Mr. King has shown himself adept at building an online presence and making a business lean. I think that Myer can continue to build on its online brand and expand on that footprint. The scalability of this is evident in other online retailers. Myer has the advantage of having the brick and mortar as an anchor to this, mitigating some of the annoyances of online, and giving it a slight edge. It’s also damn good advertising for people who might decide to buy at the shop anyway. Furthermore, Mr. King’s tank commander approach at firing off dead weight management and improving the store experience will hopefully also continue to prove fruitful. + +Mr. Lew has demonstrated in his career an ability to foster strong brands. This happens to be one of Myer’s best assets being a 100 year old iconic Australian fixture. Mr. Lew Premier Investments portfolio of retail clothing brands may find a good match with Myer in the long run. I could envision Myer becoming a vehicle for these brands. Perhaps folded into the Premier group itself, or perhaps becoming the exclusive outlet (allowing Premier to dramatically cut costs on their own brick and mortar footprint). There’s a lot of potential here, and I think it’s a big positive for both halves. + +I think Myer is in a good position to become the premier department store of Australia, featuring premium brands exclusive to Myer. It can brick wall against its exposure to online by co-opting it. The near-term debt issue is the main hurdle I think, as otherwise it is evident there was some progress in King’s turnaround. Now that turnaround is backed by legendary Solomon Lew for good measure. + +It hard to say what FY21 will show, but there are a lot of opportunities for success. First half results I believe come out in March, so we’ll have an insight into the financial situation at that point. But if it’s moving in a positive direction, I think Myer may be able secure its future for the next decade, and the overall value for a shareholder in this position is in the many multiples. My opinion is that this has the potential to be a 10bagger in 2-3 years. + +**\*\*\*\*\*\*\*\*\*\*** + +**EDIT**: I enjoyed some of the points made by commenters. It seems like Myer generates a lot of debate. I cannot respond to it all, but I felt a small edit was due. Specifically, a question from /tassiboy42069 inspired me to write more on the topic of this stock. + +*“OP in terms of competition, remember how Uniqlo and Zara pretty much reinvented fast retail for clothes and brought down an entire segment of aussie clothes shops?* + +*Im wary of this happening to Myer. Thoughts on any competition that can upend our thesis on myer?”* + +Good point. It feeds into a deeper analysis of the rest of the market that I didn’t go into a lot of depth on. I like your question so I’ll extrapolate a bit. + +**“Fashionable but Practical” Brands** + +I think Uniqlo, Zara, and H&M have pitched to a younger market demographic that want to look fashionable but don’t necessarily want to fork out the money for a recognised designer label. “Fashionable but practical.” I think there is also a dark horse in Harris Scarfe, which seems to do a pretty decent job in store atmosphere and their homewares departments, but I think comes up slightly lacking in their overall range, and certainly doesn’t have the same sort of quality level in clothing. I think in that sense these stores are not necessarily competing for the same customers as Myer and David Jones. + +This feeds into the point people have raised about Target. They were also going for a similar “fashionable but practical” sort of profile. However, I think the issue with Target was that it wasn’t authentic. They were Kmart’s supply chain dressed up as generic designer clothing. Ironically, Kmart sometimes had better quality stuff for cheaper anyway. + +Uniqlo, Zara, and H&M fit that profile much more authentically. I like Uniqlo myself. I buy t-shirts, gym clothes, underwear & socks from them. The basics mostly, which fits their minimalist sort of design at a good price. However, I don’t really look to them for the more important stuff like dress shirts and pants, etc. While the quality of their basics is pretty good for the price, when it comes to the regular cloths, it still isn’t the same as a good quality designer brand that you might find at Myer or David Jones. Same with Zara and H&M. It looks trendy, but it’s often made with cheap polyester mix fabrics and so forth. + +**The Myer and DJ Dynamic** + +This builds on a larger point of the dynamic between Myer and David Jones. I think the clothing that DJ sell is generally on the same level as with Myer. One of their largest brands, Country Road (also owned by Woolworth Holdings Limited, who owns DJ), is on level with many of the other brands you find in Myer like Blaq, Rodd & Gunn, and Gazman. I would argue that David Jones and Myer have similar supply chains, in terms of the sort of mid- to upper-tier designer clothing. The main difference is that DJ tries to sell it for 3x the price as Myer. In weird way, David Jones is to Myer what Target is to Kmart. + +Furthermore, when you look at Myer’s clothing range, you see a broader appeal across age groups and socio-economic positions than DJ. The thing that sets Myer (and DJ for that matter) apart from places like Uniqlo, Zara, and H&M, is that they house legitimate designer labels the people would recognise. I would argue that the quality level of the clothing is objectively higher too. People that are shopping at Myer are the type that might go to one of the speciality branded stores specifically for a level of quality and status that you get from wearing a recognised brand. + +**Cannibalization from Specialty Stores** + +This draws me to a separate point that I didn’t fully explain above. Outside of an anchor store, what is the point of a department store? What advantage does it have over these smaller brand specific stores? There is a valid thesis in saying that the big store concept is dead because it is being cannibalised by the specialty retail market. I don’t discount that there is an element of that. + +**The Department Store Question (continued)** + +I see the position of the department store needs to be refined at a department by department level. I think Myer is starting to do this too. They used to sell Apple products and TVs. They have exited their Apple distribution and are getting out of the big electronics and whitegoods. This is a not a profitable business for a department store any longer, with better specialty shops like JB HI-FI and Harvey Norman doing a much better job of it. + +However, in designer clothing, accessories, dress shoes, beauty & perfume, textiles & bedding, crockery, plates & silverware, kitchen appliances, and luggage I can see a department store having an edge over individual shops. A department store acts as a hub for smaller designer brands who may not have a big enough presence for a large retail footprint and consolidates a large range of selection into one place (which creates the element of customers being able to browse across brands and ranges). Departments stores may also have the economies of scale such that they can house more prestigious brands that other specialty stores might not have the resources to feasibly stock (e.g. Royal Daulton) or are otherwise not interested in due to having their own specific store branding. + +I think if Myer can effectively hone the product range and shed the unprofitable sections of their business, you could see a smaller but much more profitable business emerge. This is my point with Solomon Lew and his Premier Investments. I speculate at the strategic play that Mr. Lew had in mind when he first acquired an 11% stake in Myer. I believe he had plans with regards to his own retail brands in conjunction with Myer. It is definitely true that Myer hosts many of those brands right now. As I mentioned, I envision there could be mutually beneficial arrangements between Premier and Myer in terms of brand distribution in future. + +**\*\*\*\*\*\*\*\*\*\*** + +**TL:DR** \- Myer's your mother's favourite stonk and it'll probably will make her a lot of money if they don't go bankrupt. They just need to adopt Z1P payments, mix some CBD oil into their beauty care section, sell lithium batteries... mine some uranium... and viola Bunnings snags for everyone. +This seems like a new scam, no one at bank of America has heard of this scam or knows how to help me get my money back. + +Here is the summary: + +I have a BOA cash rewards credit card, which i pay off in full at end of every month. + +I paid my entire balance off Jan 2, 2021 for a total of $4500. all was well. + +I login to my online banking on Jan 24 and notice i have $5200 balance on my card. i think no way i spent this much, so i look at transactions, and indeed, new purchases are $1200 and one mysterious line item from Jan 21 that reads: "ACH PAYMENT REFUND" $4000. + +I call bank of America, to ask, what is this?? they say that is a partial refund of my original payment that i made on Jan 2, for the amount of $4500 and they refunded $4000 out of that payment. as some one called BOA saying they over paid on the credit card payment and wanted a partial refund. + +So i tell them, well, i did not request a partial payment refund. and where did this refund go, as i dont have it in any of my accounts.... + +They give me the last 4 digits of the account number it went to. its none of my accounts. + +So basically some one called BOA asking for a partial refund of an overpayment on a credit card payment, AND asked the refund to be sent to some unknown account number which I do not own. + +How can this even be possible to send a refund to a totally random account that a caller provides??? + +So far i spent 9 hours on the phone with BOA, they keep bouncing me between credit card fraud and billing agents. I already spoke to 9 different agents, they have no idea what to do, they all pass the ball to the next agent. + +Credit card fraud says since its not a fraud purchase but a payment refund its a billing issue, then billing says its a fraudulent billing issue so they transfer me to credit card fraud. rinse and repeat. + +I went to my local bank, sat with a banker lady for 3 hours while she was on the phone with what seems the same exact people/departments (fraud and billing), she too was getting bounced around between the same departments. + +at the end she said she will forward this higher up, and hopefully i will hear something in the next week or two from them. + +Have any one heard of such a fraud?? + +Im not sure what to do at this point, its been about 1 week since i was at the bank and heard nothing so far. +OMG BUY TLSA SELL TLSA SELL EVERYTHING BUY EVERYTHING FREAK OUT FREAK OUT FREAK OUT + +FREEEEEEAK OUT speaking of FREAKING OUT the rumor is they played this song at the meeting today + +https://www.youtube.com/watch?v=EVZh4WcdC3s + +i can't confirm the rumor, SHOULD WE BUY LE FREAK OR SELL THE FREAK OMG HELP OMG SHOULD WE BUILD BUNKERS SHOULD WE BUILD GARDENS WHAT DO WE DO + +http://www.cnbc.com/2015/12/16/fed-raises-rates-for-first-time-since-2006.html + +http://www.businessinsider.com/federal-reserve-announcement-december-16-2015-12 +Guten Tag to this worldwide community of Apes! 👋🦍 + +Less than 10 minutes into the trading session yesterday, and GME had already hit $231 - at which point the SHF algorithms kicked in and shorted aggressively to try to contain the breakout. That 8-minute candle was quite exciting to see! Nevertheless, with nearly 60% short volume for the day they were only able to push it down a tiny bit. The early-August FTD numbers combined with the tightening vise of the quarterly futures cycle are putting more and more upward pressure on GME. Apes will HODL with Diamantenhände for as long as it takes to see that day come. + +Today is Thursday, September 2nd, and you know what that means! Join other apes around the world to watch infrequent updates from the German markets! + +###🚀 Buckle Up! 🚀 +*** + + +- 🟥 120 minutes in: **$210.80 / 178,39 €** *(volume: 794)* +- 🟩 115 minutes in: $211.08 / 178,62 € *(volume: 786)* +- ⬜ 110 minutes in: $210.80 / 178,39 € *(volume: 712)* +- 🟥 105 minutes in: $210.80 / 178,39 € *(volume: 698)* +- 🟥 100 minutes in: $211.16 / 178,69 € *(volume: 696)* +- 🟩 95 minutes in: $211.20 / 178,73 € *(volume: 678)* +- 🟥 90 minutes in: $210.84 / 178,43 € *(volume: 676)* +- 🟩 85 minutes in: $211.08 / 178,62 € *(volume: 673)* +- 🟥 80 minutes in: $210.87 / 178,45 € *(volume: 577)* +- 🟥 75 minutes in: $211.30 / 178,81 € *(volume: 577)* +- 🟥 70 minutes in: $212.66 / 179,96 € *(volume: 541)* +- 🟩 65 minutes in: $213.65 / 180,80 € *(volume: 439)* +- 🟩 60 minutes in: $212.25 / 179,61 € *(volume: 428)* +- 🟥 55 minutes in: $211.85 / 179,27 € *(volume: 400)* +- 🟩 50 minutes in: $211.86 / 179,29 € *(volume: 386)* +- 🟩 45 minutes in: $211.80 / 179,24 € *(volume: 369)* +- 🟥 40 minutes in: $211.75 / 179,19 € *(volume: 356)* +- 🟥 US close price: $212.97 / 180,22 € *($210.57 / 178,19 € after-hours)* + + +*** +FAQ: I'm capturing current price and volume data from German exchanges and converting to USD. Today's euro -> USD conversion ratio is 1.1817. I wrote and maintain a C# application that assists me in fetching this data and updating the post. If you'd like to check current prices directly, you can check [Lang & Schwarz](https://www.ls-tc.de/de/aktie/gamestop-aktie) or [TradeGate](https://www.tradegate.de/orderbuch.php?isin=US36467W1099) + +Diamantenhände isn't just a thread on Superstonk, it's a community that gathers daily to represent the many corners of this world who love this stock. Many thanks to the originator of the series, DerGurkenraspler, who we wish well. We all love seeing the energy that people represent their varied homelands. Show your flags, share some culture, and unite around GME! +After dealing with some plumbing issues that repeated within the 1 year we had her and her children as tenants we decided that we were not going to renew the lease as we have had to file insurance claims twice due to water leaking into the units below and that landlord having complaints and such. I was cooperative and understanding so that went ok. However, the tenant did not pay the utility bill for this month and has already moved out of the unit without telling us. Her new landlord contacted me a few weeks ago and I answered his questions as needed. Since she is out she doesn't owe us anymore rent from what I remember. Should I contact the landlord and explain to him the situation? If so how should I do it without causing any issues or anything as I don't want to cause anymore issues or anything. + +If there is any important information that needs to considered that I left out please let me know so that I can see about adding it to help narrow down to the best approach. + +&#x200B; + +Edit: Please understand that I have limited experience as a landlord and will have only been 1 for a year in the fall so my experience/understanding of everything is limited at the moment. I have not contacted the new landlord or anything and my tenant just got back to me so we should be finalizing everything very soon. +My wife and I about to inherit $250k from the death of a family member. We both have high paying 6 figure +++ jobs and are currently house hacking a 3 family that has doubled in value over the past 4 years via market appreciation and major gut remodel renovations to all 3 units + mechanicals. The house needs nothing and is currently paying our mortgage + taxes + utilities 100%. My wife has $50k in student loans, I have none. We both have under 10k in credit card debt. I have 2 nice vehicles that I currently have loans on. + +My question is - is it a dumb idea to attempt to purchase 2 properties with this inheritance? I would like another multifamily property (If I can find one) \~$400-$500k in this area, and she would like a beach front townhouse in Costa Rica (\~$350k brand new) that we can use for Airbnb 80% of the time and live in the rest of it. The new multifamily in our area would be our primary residence since she would need to visit her workplace once every couple weeks or so. Does this sound like a dumb idea? I'm thinking $\`100k down on the brand new townhouse and $100k down on the multifamily, leaving $50k for some improvements since it's unlikely we can find a brand new multi, or even one in perfect condition. I'm also not apposed to one that needs a bit of work since that is what we did with our currently multi. + +Does this make sense? I'm looking for advice on how a seasoned investor would go about this? I should also add that we have spent a lot of time in Costa Rica and have close friends that live there. So it's not like I picked a random beach I saw in a magazine and suggested we buy a place there. +If not, then I cannot see any way they can be profitable in the future. What am I missing ? Everything seems "Free". There has to be a catch. Uber, Amazon also run in losses but atleast they have *some*(growing) revenue. +As of now, 5% of Auto Loans are behind payments and nearly half of them are underwater. Lots of NINJA loans were given out between 2020-2022. What will be impact on india if more mortgages start failing? +Six month update can be found here: + +https://www.reddit.com/r/financialindependence/comments/ayen19/my_first_six_months_of_fire/ + +TLDR: I FIREd one year ago and man, has this year gone by quickly. The plan worked and while it’s been a wonderful time I did have some surprises along the way. + +**A Brief Recap** + +I’m not using a throwaway account and my identity is easy to discover so I won’t be using any actual figures. Suffice to say I’m on the fat side of FIRE but by most definitions, it’s pretty low on the Fat scale. + +I had a 25 year career in television news in NYC. My income was higher than average but in no way close to some of the software engineers or doctors on this sub. In my six month update someone guessed my income was 200k and another person suggested it was 500-600k. I never got close to 200k and neither did my wife. + +The original plan was that my wife and I would retire at the same time but since she likes her job and can do it from anywhere, she continues to work. At any time she can decide to stop working and the plan stays the same. + +Major events in our lives that helped us FIRE started with a literal fire. In 1997 my wife’s house burned down and we were able to turn tragedy into triumph by investing the insurance money as we rebuilt the house. I have two rental properties. I’m trying to sell one at the NJ shore now but there isn’t really demand for three unit rentals. Oversized single family homes, however, are selling for ridiculous prices. + +Although frowned upon (or worse) on this sub we have owned a timeshare for 20 years and loved it while working. It’s been even better now that we can travel more. Went to Utah in April and are planning to go to Arizona in November and Colorado in January or February. In Oct. of 2020 we’re going to Hawaii. + +**Labor Day** + +This had a lot of significance for me through the years. When I was a kid it meant going back to school after spending the summer at my parent’s vacation home / rental property at the Jersey Shore. As an adult it meant that the long weekends I’d take were over and it was back to a regular schedule. Now that I live here at the Jersey Shore for six months, it means I watch all my friends do those things and I enjoy the weather, the boat, Waverunner, paddle boarding, and running on the boardwalk without any of the crowds that were here in the summer. Labor day used to be an end to something now it’s the beginning of something new as I prepare to go back to CA for six months. + +**First Year Observations** + +I wanted this year to be a test for what life will be like going forward. We wanted to watch our spending carefully and live as frugally as possible just to make sure we had everything right. I avoided big ticket items. The golf cart that came with the house we bought in CA needed to have all the batteries replaced at a cost of around $900 or we needed to buy a replacement golf cart, probably $3,500. When I was working it would have been an easy decision – buy a new one. I did nothing and will decide what to do when I return to CA next month. Since our spending was good, I’m leaning toward a new one but some big expenses are coming up. One of the air conditioning units broke at our house in CA but rather than fix it, I’m also waiting until we return in October. + +My rental in CA is going well and my excellent tenant wants to stay another year. He did ask for some big ticket items like having a retractable awning installed on the patio and replacing the curtains with blinds or shutters. I’ll probably add the awning since it will increase the property value but not the window treatments. + +The biggest surprise for me was that our eating out budget was way more than I thought it would be and not in the place I thought. I figured we’d go out to eat a lot more when we’re living in CA since we have lots more retired friends there. It turns out we just have dinner at different friend’s houses. In NJ since our kitchen is small and family and friends visit on the weekends, we’ve gone out a lot more than expected. It won’t break the budget but it was surprising. I’m surprised how much we spend at our local microbreweries but that’s where we hang out with most of our friends so it’s money well spent – and the beer rocks. + +**Lifestyle inflation** + +In my 6 month update I mentioned that I believe that some lifestyle inflation is not only inevitable, but necessary for a happy life while you pursue FIRE. My biggest lifestyle splurge was my boat. I thoroughly enjoy it and was willing to pay for that experience. Unfortunately after only four years my boat had a major engine issue that would have cost $10,000 to fix but luckily it was under warranty. Now I’m looking at new boats – we’ll see if that’s in the budget. + +**Getting FIRE Right** + +My key takeaway after a year out of work is that perfect planning and perfect execution are impossible. I split my time between the two highest tax states – that definitely wasn’t perfect planning. The good news is that you can be pretty far from perfect but still succeed. I've literally had people on this sub call me an idiot or stupid for things I’ve done. For instance I’m not an advocate of maxing 401k or IRA at the expense of not investing in a taxable account. I never maxed those accounts myself. Now that I’m retired I don’t have to worry about a 72t, I just withdraw from my taxable brokerage. I use a version of the three bucket method and was told it’s just a mind trick and doesn’t really do anything for you. That’s fine but it’s a mind trick that works for me – no need for perfection just success. + +**The Retirement Reality** + +We pinch ourselves and ask “how is this possible” on a daily basis. During the winter months we live in a gated community in southern CA with the most [stunning mountain views](https://i.imgur.com/JVlmHza.jpg) you could ask for and we live at the beach with an awesome boat and waverunner to enjoy on a daily basis in the summer months. I had [this picture](https://i.imgur.com/Tq5rPLN.jpg) hanging in my office when I was working and now this is my life. It was definitely worth it. We’re members at and play tennis where the largest non-major tennis tournament is held in Indian Wells. Here’s [Roger Federer practicing.](https://i.imgur.com/MbYxOpM.jpg) + +I was surprised that I didn’t do nearly as much hiking as I thought I would and I plan on changing that once we get back to CA. + +In my previous update I said that I’d lost 40 pounds and compete in half marathons and now triathlons. Well, I came in second place in my age group at a trail half marathon in Utah and my wife came in first in her age group at the same race. + +I had a crazy mishap at what would have been my second triathlon this summer. I got chemical burns to both my corneas from the anti-fog spray I used on my goggles. I was basically blind for two days and it took over a week for my eyesight to return to normal. I’ve already signed up to do that tri again next year, not letting anything keep me down. + +Another six months past and we have not been bored for one second. As a matter of fact, I haven’t even had time to read a book (though I am writing another one). + +We’re just taking things as they come and enjoying life. +Is it possible to add a contract to our rental lease such that if the tenant successfully buys a property they can be released from their rental agreement early with an end date say 2 weeks after their purchase settlement? + +I'm asking as the landlord. When we first bought property one of the biggest hurdles was timing the rental lease with finding the right property at the right price and not having to spend too much on lease. We ended up paying 6 weeks rent to break lease early and the real estate agent made zero effort to help re-rent the place early. + +I'd like to take away that burden from our renters if they do find themselves in a position to buy. Simultaneously I don't want really want to be taken advantage of. +What type of lawyer would be right for this kind of legal advice? +Is there a sub this question is better suited to? +Have any other landlords out there achieved something similar? +Are there any financial implications I'm not thinking of? Besides the cost of readvertising to re-rent.... +So I was just checking out the pension calculator here: + +&#x200B; + +[https://www.standardlife.co.uk/c1/pensions-and-retirement/saving-for-retirement/pension-calculator.page](https://www.standardlife.co.uk/c1/pensions-and-retirement/saving-for-retirement/pension-calculator.page) + +&#x200B; + +I am 27 with no pension doing a PhD. Looking at jobs I could be earning anywhere from 32 to 44k depending on whethe ri go into data science or consultancy. However if I plug 44k into this calculator and I put 20% a year in from when I will finish my PhD with an 8% employer contribution (may be conservative) even at the age of 68 I won't have a moderate pension. + +&#x200B; + +This seems nuts. + +&#x200B; + +Whilst I am not sure the calculator takes into account pay rises it seems like if I were to go for the data sciencey jobs that start at 32k and aren't obvious how they go up I would be fucked regarding a pension and really my only choice is consultancy. + +&#x200B; + +then ontop of all of this I still dont have property or anything so 20% is waayyyyy too bigger contribution while trying to get a mortgage. +So I've been a heroin addict for 5 years up until last august. I survived a lot of shit that I shouldn't have but so glad I did. Anyways I've been interested in crypto for even longer than that and due to being a homeless junkie of course I never actually invested. A couple months sober I started to make my first purchases and couldn't be happier with my gains. I'm a small fish just trying to secure a future. Anyone else find crypto to be helpful to distract them from drug or alcohol abuse??? PS -still a total stoner when it comes to THC 😹 +Let's please try to elevate the discussion...... I'm not saying we can't celebrate but as we have more and more people joining this thread let's give them more substance than just HODL, Moon, Lambos and flippening.. if we can't take our selves seriously how can we expect people to take this seriously. + +I'm trying to appeal to your higher intellect and urge you to consider before posting. Is this adding any value? If someone new to ether is reading this what will they gather from this post? How does this help our cause? + +Again I'm not saying we can't celebrate but let's save those celebrations for the significant mile stones.. not every time we recover from a correction. It makes it look like we our selves don't believe enough.. I leave you with quote "the loudest one in the room is the weakest one in the room" - Frank Lucas +I popped over to leanfire and had sort of a shower thought: if the 0-15% LT capital gains bracket is a hair under $40k and you're living off $40k in investments, does that mean only ~$500 is taxable? + +Then I thought, "it's not that simple, if you contribute (using more or less my own numbers here) 250K to a taxable account and have a final portfolio value of 750K after Y years, that's 500k in gains, and that's all the LT taxable gains." + +So what does this realistically look like from a tax standpoint? If you want to withdraw 40K/year from that 750k number above, what would the tax burden actually look like? For simplicity let's say that you have no 401k or job you're also pulling money from; you're surviving purely on those $40k/yr withdrawals. +I’m 26 making around 56K/year and I have about $9,000 in student loan debt. I will be acquiring $40,000 shortly and I’m looking for advice on how to properly invest it. Thanks in advance! +Hello there, + +A friend of ours is offering to loan us a substantial amount of money - above £100k. This would be written up officially as a loan through solicitors. However, they are very wealthy and have said we do not need to pay this back, which is amazing. So really, the money would be a gift. I believe they want to do it this way due to tax reasons. + +We plan to use this to clear our mortgage. +My worry, however, is that they would have recourse to recover this money from us at any point if they decide to as it will be written up as a loan. + +If we take this gift/loan from them, and then as agreed, don’t repay, how do we protect ourselves from them coming after it. We will obviously speak to our solicitor about this in depth, but is there a way to write in a clause about this to the agreement? such as ‘the loaner agrees that after 5years the debt is written off’. Or is this not a safe way to do it. I’m just concerned that there will be no repayments from us to them to show if they bring it up. + +I am leaning towards saying we would rather take the tax hit to have the money as a gift. + +To be clear, I don’t think they would come after the money, but circumstances do change and you never know. + +Edit to add. We already own our home, not looking to move or buy another property and the person is unlikely (and hopefully won’t) die within 7 years. I’m not sure their reasoning for it being a loan actually now I’ve properly read up of gift tax. However, if there was no loan contract, would that be better or worse for us in the eventuality they wanted it back? + +Also to add, we were worried about ringing our lender and paying off the money and saying it was a gift, or a loan. Will they question where the money came from. Perhaps that was the reason behind friend saying it needs to be a loan? (Sorry, my husband has been speaking to friend as it is his connection. My brain is the one wondering about the finer details, it took us an age to get on the property ladder, I don’t want to mess anything up!) +Over this weekend there seems to be a message that labelling something as misinformation is FUD, this could not be further from the truth. + +Misinformed people make misinformed choices. + +Having a community that analyses every aspect of information and picks up things that are incorrect or wrong, or items that just need tweaking is a STRENGTH. +Sorry for my ignorance if this is common knowledge stuff—but for people who have started with a lump sum of money and have acquired wealth from investing (not a job with regular salary, etc), how do they have “daily” money so to speak without withdrawing from investments? I know that most investments come with penalties and are not meant for constant withdraws, but are more of a long term thing. +I preface the following as a vent: + +I’ve been noticing a material uptick in the mega PE funds (KKR, Apollo, BX) introducing their offering to the HNW/UHNW folks through a more recently created distribution channel. + +Many a blue moon I have come across prospective clients to our MFO with the most fee ridden investment products. I-capital feeder funds? Unnecessary insurance products? Front and backload mutual funds? Funds with 12b1 expenses?? Blah. It’s shameful the amount of “overhead” we’ll call it, that is so prevalent across the world of investing. + +For every policy or product sold, there are literally years and years of superfluous and avoidable fees the client bares, and I���m sure in some cases, without even knowing. My particular least favorite is the I-capital structures I’ve seen, placement fee to the broker, annual feeder fund management fee, and even an incentive fee to the feeder fund?? All on top of the underlying managers 2/20 fee. Oh and that’ll go on for 10 years, please and thank you. + +I have no problem paying for performance, but the overhead involved here is just ludicrous. + +On the topic of Interval funds and liquidity structures like B-REIT and other liquidity mismatched products (BCRED?), of course it sounds good and everyone wants in on these steady yeti “returns”, till there is a liquidity crunch (and there always is) and now all of a sudden you can’t even access your money (and that’s after waiting the 1 year mandatory investment period). You’ll submit redemption instructions, get prorated like everyone else, and oh, if you didn’t read the fine print, you’re going to have to resubmit your instructions every quarter to be considered part of the redemption Pool. + +I literally met with Starwood a few weeks ago and they were pitching how great their private reit was. Needless to say we politely told them to F off. However many people aren’t as comfortable/informed to read offering memorandum and understand the egregious economics and mark ups that firms tend to charge. + +Just a vent, but as an admirer of efficient markets, it is frustrating to see people get into such inefficient products, especially when, if you have the scale, you can just go direct. + +Anyway, I’ll get off my soap box. Thank you for listening. + +Curious to hear other folks experience with such things. Positive experiences? Negative? In between? + +Article on the topic here - https://www.barrons.com/amp/articles/starwood-reit-blackstone-breit-withdrawal-limits-51670167909 + +Edit - Great twitter thread explaining the predicament specific to these types of funds: https://twitter.com/philbak1/status/1600277515146182656 ; 3.62% annualized fees on "NAV" per poster's math. + +Edit - added more details, changed tone to be less…venty and self righteous. +Fatfire members, how do/did you keep from feeling like every service worker is robbing you when they come to your house and see how you're living? Yes, we do our due diligence, read reviews and ask for references but whenever I get the invoice and it's higher than the estimate, I feel robbed. + +I hope it makes sense. This isn't about being cheap. This is trying to understand if you have experienced prices going up based on where you live? Final invoices being higher? How have you dealt with it as your NW has gone up? +I have $5000 sitting in my savings. I am a hard working single mother with two jobs. I’ve recently come into the stock and crypto word with investments and of course as any beginner, I’ve made a lot of mistakes. I think my only promising stock right now is Apple, which I own 11 shares, but you can imagine my disappointment when I only received $2.40 as my first dividend. + +I like Reddit for the honesty and obvious sarcasm people have here. + +So I’m just wondering. What are some stocks you would recommend? I of course will Do my own research with each stock, but I don’t really have a lot of ideas given my “noobie” experience. + +Thanks for your time! +Backstory: + +Archegos Capital, a prop trading firm run by Bill Hwang (apparently not a smart man), managed to completely blow up his $80 billion portfolio in true WSB fashion, the sheer idiocy and magnitude of this blowup makes us all look like mormon choir boys. This fucking guy had 5:1 leverage on $16 billion of capital invested in china growth/tech *at the peak of the fucking tech surge*, and *didn't fucking de-leverage* during the most obvious sector rotation ever 6 weeks ago. It's all gone now. Liquidated. To zero. He was heavy into china tech / growth stocks on 5x margin, $80 billion portfolio. Poof. + +Margin calls probably started on Monday of last week, where forced liquidation took place. Rumor has it, all of the different PB's this guy borrowed margin from agreed to an orderly selloff during the forced liquidation, but some unknown PB front ran them like a total cocksucking wench and liquidated all at once, causing a violent crash in BIDU and Viacom. Source: https://twitter.com/EnergyCredit1/status/1376211566056644608?s=20 + +Here's more on the backstory: + +https://twitter.com/DoveyWan/status/1375769056486203394?s=20 + +Positions: any CS 4/16 p. I'm betting Credit Suisse takes a huge loss from this poor line of credit, and it hits the news in the coming weeks. +Hey guys. Just a little confused about the upcoming fork. I tried looking but can't seem to find a straight answer. I'm sounding like a total noob but I can't find anything. + +When is the fork? Will there be a new coin? What should everyone do if they are holding on Coinbase or other exchanges? + +Thank you in advance. +Seeing a number of posts with brokers telling clients something to the effect of ‘If you have the correct number of shares in your account, that’s all that matters.’ + +No. The issue isn’t how many shares I/YOU/WE hold in our individual accounts. The issue is how many shares EXIST. They think we’re too dumb to look beyond the surface and when we do, they want us to feel dumb for trying. + +If this truly were a straightforward stock split, 4:1, then yes, it’s simple in theory. Whatever the float was, multiply it by four. Then take the price and divide it by four. However, that’s not what GameStop Corp filed for. + +If the split went down as GameStop intended, that means that GameStop created a pool of new shares to provide an additional three shares as a dividend for every one share in the current float. They allocated those shares to Computershare who then took from that new pot of shares to distribute three new shares for every one share currently held in Computershare. Once that distribution was made, the remaining shares should have then been allocated to the DTC to perform a similar distribution to brokers. If the DTC never distributed those shares (around 200mil?) to brokers and instead just instructed brokers to split shares, that means two things… + +1. The DTC did something with 200mil(?) shares that were entrusted to them. That’s about $8bil worth of stock at the current price. +2. The supply of $GME has again been significantly and artificially inflated beyond what any previous synthetics had already done. And that means that the true value of the shares in our accounts (wether the ‘correct number of shares’ or not) has been artificially decreased. + +If you have to explain the laws of supply and demand to a broker, there’s a 99.99% chance that you dialed a wrong number and are actually talking to your drunk uncle Billy who drinks Coors out of an old peanut butter jar. Again, if your broker is telling you not to worry and that you have the correct number of shares, they’re either complete morons or they think that we are morons and will give up if they dismiss the details. Ask yourself which is more likely…don’t stop pressing the issue. +Hi, I want to get into algo trading after doing discretionary forex trading in the past, but I have no understanding of coding and when I looked at quantstrat in the wiki it did not make much sense to me. Do you have any suggestions of how I should learn to code and what the best resources are with the objective of algo trading? A lot of suggestions I have seen online are for coding things like web development, which does not seem as relevant? Many thanks! +https://www.cnbc.com/2019/03/01/new-york-leaders-publish-open-letter-asking-amazon-hq2-to-come-back.html + +Around 40 union leaders, local officials and business owners asked Amazon to reconsider New York for its HQ2 in an open letter published as a full-page ad in The New York Times. + +The Times reported that Cuomo has been reaching out to Amazon executives, including CEO Jeff Bezos, about reconsidering its plans in the city. + +Amazon has yet to show signs that it's willing to rethink its decision. +Mods - hope this post is OK. Posting here rather than r/careers etc. because I'm interested in an Aus perspective. + +I graduated about 4 years ago with a Bachelors in Marketing and Management and currently work a fairly uninteresting Account Manager role. I've completely lost interest in the work and the prospect of working similar jobs throughout my career makes me pull my hair out. + +I'm strongly considering returning to uni to complete a Bachelors of CompSci but I'm concerned about having to get a part time/casual job and how I'll cope paying rent and bills, and also if I'm falling into the idea that the grass will be greener if I make a big career switch. + +For those that have been in a similar position and made the decision to go back to study, how did you manage the short term impact to your earnings? If you graduated and made a career switch, would you say the move was worth it? + +EDIT: Thanks for the great responses everyone. +I bought DigixDAO tokens which are obviously associated with Digix. I was going to buy Slock.it tokens as a way to invest in Slock.it. Then I heard Slock.it won't create a DAO for the crowdsale due to liability concerns... yet I see mention of an ICO for "The DAO" on the Slock.it blog. + +How does "The DAO" relate to other DAOs? Is there a difference between initial "The DAO" tokens sold to investors and subsequent DAO tokens that are created within "The DAO"? How does Slock.it fit in to it all? + +* Happy to report I am no longer confused. Thank you everyone. +safemoon website - https://safemoon.xyz/ + +safemoon whitepaper -https://safemoon.xyz/wp-content/uploads/2021/03/SAFEMOON-WHITE-PAPER.pdf + +Memecoin with huge potential! + +100% community-owned, automatic LP and RFI static rewards - what's not to like? + +SafeMoon employs 3 simple functions: Reflection + LP acquisition + Burn-In each trade, the transaction is taxed a 10% fee, split 2 ways. - 5% fee = redistributed to holders - 5% fee is split 50/50, half of which is sold by the contract into BNB and paired with the remainder of the $SAFEMOON tokens and automatically added to the liquidity pair on Pancake swap. + +Make sure to join the Telegram group. + +GET IN EARLY WHILE YOU + +edit - I forgot to mention that it's being listed on Hotbit around some time next week so get in before it TRULY TAKES OFF!!!!!!!!!!!!!! + +EDIT - We have done a 5X since I posted this and we aren't even listed on WhiteBit yet!!! This will be insane once we get listed and millions of people can purchase it from there!!! +I’ve been trying to figure out how to word this because a lot of people have encouraged me to give tips and tricks here. I made another post all about evictions and homelessness. You can find it on my profile. + +Here’s my story: + +In August of 2020, I fled an abusive relationship, and I, unfortunately, do not have any surviving family. I was an only child. My parents passed away. My grandparents also passed away, and I never really knew any cousins or aunts or uncles I could call for help. I ended up on the streets. Shelters were either at capacity or you could only come in at night. It was HARD. I cried myself to sleep night after night when I was able to sleep. I won’t leave anyone under the impression that it was an easy, happy time. + +I scraped by on food from food banks, shelters and motel rooms when I could afford them or a church was willing to fund them. I really thought I was done for. I didn’t have any real skills. I stupidly dropped out of college when I met my ex, thinking we’d have a family and he’d take care of me. (NEVER do this!) I was alone and scared in a city I wasn’t particularly familiar with with almost no friends nearby. + +For months, I didn’t really do much to better myself. I blame this on the mental health issues I was dealing with due to abuse and my own general laziness. Some days it was easier to focus on the here and now rather than the future. If I was fed and sheltered for the night, I avoided thinking about what I was going to do the next day. + +Then, one day, I woke up and I really decided I didn’t want to live like this. I scoured the internet for jobs. Applied like crazy. I had very little work history, and no working phone, so I would miss interview calls if I wasn’t somewhere with WiFi. Then, one day, I was walking past an office building, and there was a sign on the door that they were looking for a secretary. I called the number and they had me come in the same day, and I got the job. Honestly, it was pure luck, but don’t be above checking out local bulletin boards or office buildings and seeing if somewhere is hiring. A lot of times there’s so much online that you miss the perfect opportunity. + +I dutifully show up to work every single day. I offer to do extra work a lot just because I’m so grateful to be there. I used my first check to buy clothes for work. I used the second check to secure housing. Now, I have a job, and I’m not homeless. It’s hard, but I promise it feels soooo good once you better yourself. + +I still struggle. I won’t lie. I used up my check for housing and I don’t have anything left until my next check, but I have some place to sleep at night. I know I have money coming in next week. It’s honestly a great feeling. Of course, I feel the pressure a lot of times. I feel like I’m still failing sometimes, but I look back and see how far I come and I know I can make it. + +I’m here if any of you need moral support or resources in your area. Don’t be afraid to reach out to me. ❤️ +Decentralized payment platform. + +Pay with whatever currency you want, wherever you are with additional options like escrow, continuous payments, and automated taxation and accounting. + +Here are my top reasons on why I am holding REQ. + +1)Token burning - The way I understand it, REQ tokens are burned with each transaction. This means REQ tokens will automatically appreciate in value. This alone is worth HODLing REQ tokens. + +2)Currency Agnostic/Mass Adoption - The game changer for me is the fact that REQ can be used with fiat. The problem with most dApps is they are tightly coupled with cryptocurrency, and crypto isn't quite mass adopted yet. Joe six pack can use Request with fiat because of it's lower fee's over Paypal's and not care about the 'blockchain magic' that's going on beneath the hood. If normies start using Request, you know what that means? Mass Adoption! + +3)REQ is backed by Y-Combinator - Need I say more? Y-Combinator is the Harvard of startup accelerators. As a matter of fact Y-Combinator is harder to get into than Harvard! If REQ is being backed by these guys, then obviously they are doing something right. Remember Y-Combinator has backed Reddit, Coinbase, Airbnb and Dropbox to name a few. Ironically, if it weren't for Coinbase or Reddit, I probably would'nt even be into crytpo. + +4) We're already as low as we can get. Every coin has its day. There are tons of sh#tcoins that have 2x'ed, 3x'ed with time and don't have a fraction of the awesome use cases that Request has. If you get in now, rest assured that the only way we can go is up. If you guys have seen REQ ambitious roadmap, you know that once this baby gets rolling, it's going to be too late to jump in if aren't in already. Do you really want to be the 'guy' that sold all his Request tokens the week before it mooned? Or the guy that sat on the sidelines while this coin was sitting under ico price? Yeah, don't be that guy. + +5)Colossus - This is only a FEW weeks away guys. I mean, if you can't HODL for a few weeks, then just stop investing. Everyone in crypto thinks they are entitled to a 10x overnight. Even the most successful ico's of all time took time. Imagine if you sold all your ETH one month after the Ethereum ico! Anyway, REQ is delivering a site, that will actually be useful, in less than a FEW WEEKS. + +6)Fee's - REQ token holders we will receive 0.1 - 0.5% of the fees. So this along with the token burning is an easy way to make passive income. I mean it just doesn't get any better than this. + +7)Request is a Platform - If we look at the most successful ico's of recent memory, Ethereum, Stratis, NEO, LISK, etc they are all platforms. There is a common misconception that Request is a just another dApp but that is not the case. + +There are a lot of other reasons, that I might add on later. But feel free to add to this list. + +I think sometimes Investors forget why they invested in Request and sometimes we need to be reminded of the potential of this coin. Like I said other coins have mooned doing much less. We're next up to POWR! +We often hear stories here about how people got into AMD or NVDA at $10. That's fantastic but I would like to know: + +> **How did you find these great buys and can we duplicate your process?** + +And + +> **Using that same method, what current stocks look like the next AMD or NVDA (before they mooned)?** + +We're especially interested in stories that describe a great research method that hopefully we can duplicate. + +A couple of caveats: + +* You can share other stories that's not AMD or NVDA, but try to keep it in the tech growth sector if possible. + +* Try to avoid stories of "Well it was so cheap so I just Yolo" or "I heard it on Reddit." That's great for you but it's not a process we can duplicate. Remember, it must be a "high conviction" buy for you, not just a random dart throw. +Feeling slightly dejected after getting rejected for a graduate job I had my heart set on, and for now am in a job unrelated to my degree that doesn't have amazing pay ( $60k) in a non major city. + +I was wondering if people who had experience perhaps not breaking into a field or job they are happy with straight out the gate advanced their career, and in what timeframe. + +Also open to timelines generally as im curious. + +Apologies for the lack of hard hitting finance chat +Guten Morgen to all of you Great Apes around the world! 👋🦍 + +I'm so sorry for the delayed start today! Fortunately we're all *very* well-versed in eagerly waiting for something to happen while HODLing GME with Diamantenhände. + +Yesterday was another extreme volume day, but there were certainly some stronger forces at play trying to keep the price down. If you haven't yet read u/Criand's most recent DD post, I highly recommend reading it now. It lays out a very compelling case for another run-up in the coming days, perhaps even triggering the MOASS. Either way, apes are ready for whatever happens - shorting the stock clearly doesn't make us sell, bull traps clearly don't make us sell, and we are just as prepared to HODL through the rocket ride to the moon. + +Today is Thursday, August 26th, and you know what that means! Join other apes around the world to watch infrequent updates from the German markets! + +###🚀 Buckle Up! 🚀 +*** + + +- 🟩 120 minutes in: **$198.90 / 169,48 €** *(volume: 1543)* +- 🟥 115 minutes in: $198.72 / 169,32 € *(volume: 1486)* +- ⬜ 110 minutes in: $198.78 / 169,38 € *(volume: 1331)* +- 🟩 105 minutes in: $198.78 / 169,38 € *(volume: 1327)* +- 🟩 100 minutes in: $198.71 / 169,31 € *(volume: 1307)* +- 🟩 95 minutes in: $198.68 / 169,29 € *(volume: 1276)* +- 🟥 90 minutes in: $198.46 / 169,10 € *(volume: 1208)* +- 🟥 85 minutes in: $199.35 / 169,86 € *(volume: 1093)* +- 🟩 80 minutes in: $200.38 / 170,74 € *(volume: 873)* +- 🟥 75 minutes in: $200.00 / 170,41 € *(volume: 867)* +- 🟩 70 minutes in: $200.47 / 170,81 € *(volume: 797)* +- 🟥 65 minutes in: $199.92 / 170,35 € *(volume: 552)* +- 🟩 60 minutes in: $199.95 / 170,38 € *(volume: 385)* +- 🟥 55 minutes in: $199.94 / 170,36 € *(volume: 275)* +- 🟩 50 minutes in: $199.95 / 170,38 € *(volume: 262)* +- 🟥 45 minutes in: $199.89 / 170,33 € *(volume: 227)* +- 🟩 40 minutes in: $199.92 / 170,35 € *(volume: 207)* +- 🟩 35 minutes in: $199.91 / 170,34 € *(volume: 199)* +- 🟩 30 minutes in: $199.85 / 170,29 € *(volume: 197)* +- 🟥 25 minutes in: $199.83 / 170,28 € *(volume: 175)* +- 🟩 20 minutes in: $199.86 / 170,30 € *(volume: 149)* +- 🟩 15 minutes in: $199.83 / 170,28 € *(volume: 104)* +- 🟥 US close price: $199.65 / 170,12 € *($201.00 / 171,27 € after-hours)* + + +*** +FAQ: I'm capturing current price and volume data from German exchanges and converting to USD. Today's euro -> USD conversion ratio is 1.1736. I wrote and maintain a C# application that assists me in fetching this data and updating the post. If you'd like to check current prices directly, you can check [Lang & Schwarz](https://www.ls-tc.de/de/aktie/gamestop-aktie) or [TradeGate](https://www.tradegate.de/orderbuch.php?isin=US36467W1099) + +Diamantenhände isn't just a thread on Superstonk, it's a community that gathers daily to represent the many corners of this world who love this stock. Many thanks to the originator of the series, DerGurkenraspler, who we wish well. We all love seeing the energy that people represent their varied homelands. Show your flags, share some culture, and unite around GME! +Is there any basis for the common claim on reddit that the youth of today has it much worse than previous generations? And if that's the case how true is the common sentiment that milennials have gotten screwed over by previous generations? +This question was verbatim asked in /r/askphilosophy, and I'm interested in seeing how it's responded to by this field compared to the other, even if you all know relatively little about the inclusivity of philosophy departments. Rather, why does the mainstream rarely, if at all discuss Marxian thought? +I know that it's due to the invasion of Ukraine. I just don't understand why this is having an *immediate* impact on gas prices. + +Nordstream 2 wasn't delivering any gas supplies yet, so the postponement of that doesn't change current supply. All the other pipelines are still running. European sanctions haven't yet included oil supplies. Russia hasn't cut off supply yet. So why are prices going up right now? Current demand and supply should be the same, no? + +Is it that people are anticipating a supply shortage in the near-future and they're buying up reserves in order to speculate, and this behavior is causing the price to rise? Or is the price rise mostly contained in the futures contracts (which would make sense), and not reflected in spot? +I saw this [graph](https://prnt.sc/mic5g6) that comparing M2/GDP ratio among countries. you can find that those countries had M2 like 150% of GDP at some period. in contrast the US always has so little [M2 compared to GDP](https://fred.stlouisfed.org/graph/?g=dZn) although the US has been passed the QE era it's still only 70% of GDP. how does it so different? +[https://www.cbpp.org/research/federal-tax/corporate-tax-cuts-mainly-benefit-shareholders-and-ceos-not-workers](https://www.cbpp.org/research/federal-tax/corporate-tax-cuts-mainly-benefit-shareholders-and-ceos-not-workers) + +If corporate tax cuts aren’t offset by tax increases or spending cuts, the resulting increased deficits would reduce national saving, meaning less capital would be available for investment in the economy and interest rates would consequently rise.  This would ultimately reverse any increase in investment caused by the rate cut, preventing productivity and workers’ wages from rising.  For corporate tax cuts to produce sustained wage gains for workers, they must be offset with some combination of tax increases and spending cuts. + +So lowering corporate tax rate is good but, got to have other sources of revenue such as Land Value Tax? So would that mean that Trump lowering the corporate tax rate is bad?- because he didn't cut spending or increase taxes in other places as well? +I'm an Economics graduate that's worked in non-related fields for the last decade. Now I've been offered the opportunity to work as an economist for the State Government. + +Despite my education, I honestly have no idea what a working economist does on a day-to-day basis. Is the day spent collecting data, building linear regression models, and summarising the outcomes (be it descriptive or predictive)? + +Can those that work as economists please help shed some light on this for me? Thanks. +Latest from [Reuters](https://www.reuters.com/article/us-retail-investing-robinhood-debt-exclu/exclusive-robinhood-explores-raising-more-debt-to-fulfill-reddit-fueled-order-frenzy-sources-idUSKBN2A13HG) is they are looking for another $1bn on-top of the $3.4bn raised in the last few days. + +If the YOLO trades go wrong and Robinhood is left holding the can, are we in for some nasty volatility? +Hello, redditors. 32M here. I am currently living in an Asian country (with low cost of living). Fortunately, I inherited a huge sum of money. My current net worth is about $1.6M in cash/stocks/bonds and $300k in real estate. + +I am working in IT industry in a senior/managerial position. The work is all right and the pay is good, but I am very fed up with office politics (My branch alone has >1,000 employees). Worse, I have a mild mental illness and the stress will make me relapse once or twice every month. On top of that, I have never been a fan of 9-5 schedule. So, I am thinking of quitting. + +I estimate that my annual expense would be $10k for a lean lifestyle or $30k for a cozy one. I do not have any debt and do own a house. Thus, I only need to pay for food, bills, medical cares, etc for myself and my SO. We don't plan to have kids though. + +I have about a decade of experience on investment. My portfolio is about 50% stocks and 50% bonds/cash. Over the past few years, I averaged 5% annualized returns. Based on my expense, I would have to withdraw about 2% from my portfolio each year. + +Do you think this is an ok withdrawal rate? I am quite concerned as I still have 40+ years ahead. If I quit my job, I might be able bump up my returns to 7-8%, as I can give it more time and I really enjoy researching & investing. What do you guys think? + +Secondly, I am quite nervous on how other people would react. It might be just my imagination, but I think the society expects people of my age to keep working full-time. Honestly, I do not think I will just stop working altogether. Most likely, I will start a small business or find a freelance work - anything that I can work from home on my schedule and demand only 20-30 hours a week. Still, I am quite afraid to be perceived as wanting to quit out of laziness. + +Thanks a lot. I appreciate your responses. +According to the SEC, if anyone receives yield on any asset, that asset suddenly becomes a security! + +So millions of people owning apartments for rental income makes all of them operators of unregistered security schemes. It satisfies the Howey rule - the apartment owner receives rent based on the work of the tenant. The owner of the apartment themselves don't do any work to generate the rent, they just bought the apartment and put it out for rent. The tenant pays the rent. + +When the owner buys the apartment and rents it out, he does so with an expectation of profit based on the work of others. + +That makes it a clear security, according to the smooth brains over at the SEC! + +BOOM, just like that Gary Gensler became the owner of every single apartment thats put up for rent across USA. Its game over, everyone. + +If you own a rented out apartment, you must immediately contact your local SEC field office to "come in and talk". + +PS: Obviously, for those who dont pay attention to regulatory news, this is about Gensler/SEC claiming any token that has yield could potentially be a security.. + + +EEdit 2: One of the misconceptions comes from misunderstanding how staking technically works, and confusing that with lending activity like Celsius/Blokcfi. When you "stake" into a network, you dont give anyone control or rights over your coins, you dont form an investment contract. When you deposit coins on a centralised entity like Celsius, that is not staking no matter what Celsius or others may call that. That is just lending - you give them control of your assets, they generate returns for you (or in Celsius' case - losses). + +When you stake into a network, you actually run nodes, risk your assets for various lockup times, slashing penalties etc. There is no common enterprise - you are doing the work yourself by running validator nodes and producing blocks. There is an expectation of profit but not from the works of others. You are staking into a decentralized network, securing it and getting rewarded for your own activity. + +For a legal analysis of this, see: https://www.coincenter.org/does-the-merge-change-how-ethereum-is-regulated-no/ +I really can not stand how they are handling Bitcoin. It is clear they do not want a truly decentralized system to flourish, despite what their framework says. + +I am not a fan of secret agendas and greedy hands. It is possible to make money and be respectable, but Coinbase has chosen a different path. + +It saddens me because Coinbase was my entry point into crypto, and now I feel they've aligned themselves against what the entire system should stand for. + +Goodbye Coinbase. For your sake, I hope you can redeem yourself. But for now, you are losing a customer for a company with standards and values that actually reflect in their actions. + +Edit: For anyone wanting to do the same. https://support.coinbase.com/customer/portal/articles/2063066-how-can-i-close-my-account- + +A Few reasons: The way they handled the release of Bcash [(Roger Ver defended the Insider Trading)](https://www.ccn.com/insider-trading-non-crime-roger-ver-bites-back-gdax-re-opens-bitcoin-cash-trading/), The CEO Brian Armstrong is [clearly against Bitcoin](https://twitter.com/Tom_Horvath/status/949207156338946048), They have yet to implement segwit in a timely manner. It is clear to me they would like to make money over sticking to their standards and values. As stated above, it is possible to do both. + +Another: [Spamming the network](http://bitcoinist.com/mempool-coinbase-spamming-bitcoin/) + +Edit: While I have some attention. Please consider donating to Coin Center. They are a non profit focused on educating governments about cryptocurrencies. I think they do good work. https://coincenter.org/donate +Basically daytrading has pretty much consumed my life. Been at it full time now for around 3 months and it is all I think about. It's getting to the point where I literally dream about charts on a regular basis. + +I am aware that this is definitely not healthy. Whenever I have a red day - I honestly feel terrible, while I'm noticeably feeling better on green days. + +Just wanted to let this out there since I don't really talk to anyone about daytrading. + +Anyone in the same boat? Anyone have some tips? + +Edit: Appreciate all the responses and glad to see I'm not alone here. + +My keytakeaways: + +1. Take a break every once in awhile and focus on something other than daytrading. +2. Accept losses as part of the game and focus on trading well rather than P/L. +3. Evaluate results at a longer term time frame rather than day to day. +4. Better be a bagholder in a dream rather than IRL lol. +https://www.irs.gov/newsroom/irs-to-recalculate-taxes-on-unemployment-benefits-refunds-to-start-in-may + +The IRS updated its guidance on the reporting of unemployment compensation revised by the American Rescue Plan enacted on March 11, 2021. It applied to me and I thought this might be helpful for others like myself. +It appears there's still some chaotic good left in the world. Earlier today, someone or a group of individuals began using tornado cash to send ETH to known wallets of celebrities. Recipients included Donald Trump, Jimmy Fallon, Beeple, Shaq, Brian Armstrong, Randi Zuckerberg, BitBoy and many more. + +&#x200B; + +https://preview.redd.it/i6ppnxs70rg91.jpg?width=828&format=pjpg&auto=webp&s=1a9f5214310bde915513de3ba1c50bbc611ca9fc + +Basically, what this does is create a situation where "if everyone is guilty, then no one is." Either the U.S. actually imposes sanctions on innocent and "guilty" recipients, or none at all, because good luck proving someone actually intended to receive the ETH from TC. + +And yes, in all likelihood it will be easy to show you were a part of a dusting attack, but now exchanges can't simply blacklist any wallet that interacted with Tornado Cash. Wealthy groups could even use TC to take down competitors. For example, if I don't like a DAO, I can simply send it a few ETH from TC and then watch them struggle to off-ramp their treasury. + +This type of attack was pretty obvious to crypto users from the beginning, but you can be sure congress never expected this to happen. +Hello all, I am new to the investing world. I recently set up a Roth IRA with fidelity and put index funds in there, with diversified allocations that change over time depending on my age. My question is, should I invest 500 each month to max out the Roth, or should I try and time the market for lows and fund then? + +Also, I have made a taxable account that I want to put 8,000 dollars into, with addition index funds, but this one containing more diversity such a real estate index. Both accounts are for the long term. Should I invest a set dollar amount to this account each month as well? Basically I am looking for advice on dollar cost averaging vs watching the market and waiting to invest. Thank you everyone!! +Does anyone feel like whenever you are literally just coming up for air, there’s a huge wave that knocks the wind out of you? I’m just so so tired. I’m tired of going through pregnancy alone and working 50 hours a week. I’m tired of coming home exhausted but having to go to food banks because I can’t afford groceries. I’m tired of not having enough money for gas and not knowing if my car is going to make it until winter. After bills i have $6 to my name. How the fuck can i save for a baby with just $6? Just when I thought that I was going to be able to rest before work tonight, I noticed that my garbage disposal is backing up and I had to buy a $1 plunger at Dollar tree. It didn’t work, surprise surprise. I’m tired of struggling and I’m not sure if I can be a good parent with all this shit going on. Had anyone felt this way? + +Edit: please don’t DM me and imply that I’m putting myself in this predicament by not going on child support. I’m not in the place where I can. In my state, I have to wait until the child is born to put my BD on child support. If asked I will gladly explain why I’m alone and pregnant but for the love of god please don’t make me feel bad by saying “oh my SO would NEVER do that to me”. Like WTF, I’m just asking for guidance without any judgement about being poor, single and pregnant. For everyone else, I really appreciate the other comments 💖 +My wife and I bought a villa. I found out that the local council has submitted plans to rezone that street to allow 4 storey units. + +It's 450m from a train station and the council has submitted to change zoning to allow units and multi level commercial premises. + +Since we own a villa (in a group of 3 free-standing villa's), I wonder what this might mean for us if it goes through and we're rezoned. +Everytime i place a trade, i get so excited and let my emotions take over + +It seems like every 5 seconds im checking the trade to see how much ive made. If it moves up, its the best feeling ever but if it moves down (even if its still in profit) its the shittiest feeling ever. This whole cycle repeats until the trade closes. + +Im trading on a demo account which makes me worried for when i do put in actual money as that would make everything 1000 time worse. + +Any advice in how to stay calm? +Quick story - My friend is in a Carpenter's Union in New York City. He's only 21 years old and just bought a house in Jersey. A nice 2 bed room house that cost at least $250,000. He comes from modest backgrounds and just saved up money from his union job that he began working in at 18. I got to see it last night during his house warming party. As I left the fiesta with 3 friends, we had a heated discussion about his salary. My friends were kind of freaked that he was making as much money as he is (and saying that it's basically retarded). Regardless of the debate probably starting from jealousy, why the hatred to the fact that a carpenter is pulling in $25 an hour? Good on him. More people should be getting paid a decent living wage. + +So my question - why are so many against labor unions? Shouldn't we all be trying to pull in as much money as we think we're worth? Why be against organizing yourself in a manner that allows you to earn a higher than expected wage? + +I'm asking here because I'd like to see economic reasoning, not political reasoning as to why unions supposedly hurt our economy. + +*Edit - I also understand the exploitation and corruption that brews in many unions, but this is true in any organization. For every corrupt labor union, there's at least one corrupt employer. Either side of the coin tries to exploit the system to get their maximum share of the pie.* +https://www.businesswire.com/news/home/20180801005635/en/Fidelity-Rewrites-Rules-Investing-Deliver-Unparalleled-Simplicity + +Probably not earth shattering if you're only paying five basis points on VTSAX but still pretty interesting. Wonder how they'll make money? +All the markets, especially crypto, are getting hammered. I'm probably wrong but it seems the biggest cause is the chip shortage followed by the war in Ukraine and gas prices. People are pulling out of the markets and either are holding cash or buying homes. Chip shortage may be resolved by 2023, the war and Ukraine may last years, odds are we may hit a Recession. What's everyone's thoughts and long term investing strategy (besides holding) during these crazy times. +All the markets, especially crypto, are getting hammered. I'm probably wrong but it seems the biggest cause is the chip shortage followed by the war in Ukraine and gas prices. People are pulling out of the markets and either are holding cash or buying homes. Chip shortage may be resolved by 2023, the war and Ukraine may last years, odds are we may hit a Recession. What's everyone's thoughts and long term investing strategy (besides holding) during these crazy times. +I am a 24 year old managing director of a small business (circa £1,000,000 turnover per annum since it was started 4 years ago). A foreign company in the same industry have set up in the UK and offered to purchase 100% of my shares for circa £500,000. My company does not have a brilliant net profit margin but we have a some high profile clients who are loyal to us and this is one of the main selling points. + +We have been in negotiations for a few months and their directors have flown into the UK to meet me on several occasions. They have one employee in the UK who is currently running their UK operations. They want me to remain with the company as I am quite integral to the work we do. They have appointed an independent accountancy firm who are currently carrying out due diligence. + +I have owned 49% of the shares in the company for a little over a year. I have owned the remaining 51% of shares for under 3 months. The deal is due to be finalised in March. + +I have a few questions and if you feel that you can answer any of them it would be greatly appreciated. + +1. What tax can I expect to pay on this £500,000 given my shareholding situation outlined above. +2. I want to gift half of the money to my parents who have helped me get to where I am - what tax implications will arise here? +3. I want to put the remaining money into an ISA and an investment fund as a contingency so I know I will be comfortable when I retire. Where can I find more information on this and is this recommended? +4. I took a small business loan circa 12 months ago for £100,000 and put a personal guarantee down for £45,000. Is there a way for me to get out of this? + +Any other advice is welcome. I am new to this subreddit so I apologise to the mods if questions like this get asked a lot. If you think this would be more suited to another subreddit, please let me know. + +Thanks + +Edit - the company is profitable but struggles for cash flow. The new owners are injecting capital to overcome this problem. I however have had to work with this cash flow struggle and have drawn a tiny salary over the last ,2 years (literally enough to feed myself and go to the cinema once or twice a month). As such, I am not in a position to commit to paying any professionals until I am certain that I am going to be able to work with the heads of terms being prepared by their lawyers. In an ideal world I would have brought my own lawyer and accountant into the picture far earlier than this. As such, I am scouring the web for help because that is all I can do at this point. +I read a lot on here on how much people in tech and other industries make but not so much banking. Banking is a pretty broad field so this is aimed at anyone who works in banking no matter the area. Trying to get a read on the market as it's hard to find salaries online for Australia. I earn about $75k incld super, in the call center at a bank working from home, 40 hours a week. First job out of uni, 1 year in. +If you didn’t get a chance to be apart of the launch it’s not too late. Supermoon is still projecting huge gains over the next week as the initial marketing push continues to be rolled out. The devs are working hard to ensure we make history with our launch,and there is a few more seats left on the rocket ship, just bring your own spacesuit. + +So far the devs have under promised and over delivered from celebrity endorsements to transparent voice chats where lots of folks are able to ask questions and have them answered promptly. + +This week SuperMoon plans to roll out more influencer marketing and are even looking at physical advertising space in New York City. In under 48 hours we’ve already managed to achieve an 8m market cap, 5200 holders and a very lively and active community which is monitored by admins and mods around the world 24/7. + +The moon is yours. + + +🌙 10% tokenimics, 5% reflection combined with burn and AMM + +🌙 50% burned at launch + +🌙 CMC and GC applied with all requirements met + +🌙 NFT minting and market place + +🌙 SuperMoon trading card game in q3 + +White paper: https://supermoonfinance.s3-eu-west-1.amazonaws.com/WHITEPAPER.pdf + +Telegram: https://t.me/Supermoon_Finance + +Website: Supermoon.finance + +TechRate audit : https://supermoon.finance/wp-content/uploads/2021/05/Supermoon-Finance.pdf +I have a disorder called delayed sleep phase syndrome and it can make my sleep somewhat irregular but for the most part, I sleep from roughly 4am-3pm. Unfortunately, the only therapy that shows results for this disorder (light therapy) is non-responsive for me, so there's very little I can do to fight it. + + +I have for most of my working life (so only a few years really) been a waiter. I was running my own cleaning company for a bit but the return diminished after about a year so I went back to waiting. + + +I love serving tables. I work in a fast casual family restaurant and for the most part, I really enjoy the work. I like earning what I make, and I like interacting with people and entertaining. Unfortunately, serving doesn't really pay the bills (between 60 and 100 dollars a night, 3-4 shifts a week). and I can't work doubles because of my sleep. + + +For a long time, I struggled to keep a job because I would sleep in. I would have a good month (waking up every morning) and get a job making decent money, mostly sales, but then I would inevitably be worn thin by my bodies natural cycle and sleep all day. And it's still a fear in my life. I'm confident, capable, and a devoted learner but I just can't work with the 9-5 life. Are there any jobs that pay well but don't require me to get up in the morning? + + +I'm not looking to get rich, I just want to be able to start a career and support myself. I really want to move out and start a life, which doesn't seem impossible. And who knows, maybe one day I'll win the lottery :) + + +&nbsp; + +Edit: I'm willing to go to school, but would prefer a shorter program. +Good Morning Apes! + +I know for the first time in the last six-months I was unable to release a weekly DD. A grueling weekend appliance shopping, arguing with moving companies, and explaining ethernet to a service technician, left me broken and battered. Yesterday, I simply did not have enough time to push something out. + +**So let me use this time to quickly cover my expectations for this week.** + +As I'm sure everyone is aware Jenna Owens is no longer COO at GameStop, she will receive whatever compensation is due as per her contract and the rest of the c-suite will take on her duties and responsibilities in the near term. + +Honestly as I see it, operations, is Ryan Cohens are of expertise it seems likely that he could use this opportunity to give himself more access to the day-to-day operations. I also don't think the hands-off nature of chairman suits his management style. But this is obviously just my own speculation. + +The fact of the matter is shorts will absolutely take advantage of a c-suite exec leaving in the middle of a so far "unannounced" transformation. I'm sure the MSM articles are already running wild with the idea. + +From a technical side we should realize some gamma exposure from last Friday (T+2) today and tomorrow as we closed decently above max pain. Hopefully this will offset some of the inevitable short interest. Here is the Consolidating wedge we have been trading within since the Aug 24th run. I would like to see us hold this or at at worst the EMA 180 (red) going into November. + +[Weekly TA on GME 1D timescale](https://preview.redd.it/dbpod1759zw71.png?width=2451&format=png&auto=webp&s=0bb8bc3ae187031282dcaa5bcbf9137165ec846a) + +For more information on my futures theory please check out the clips on my YouTube channel. + +Check out this weeks analysis here: N/A + +Join us in the Daily Livestream [https://www.youtube.com/c/PickleFinancial](https://www.youtube.com/c/PickleFinancial) + +Or listen along with our live audio feed on [Discord](https://discord.gg/HbqnUVsSrH) + +(save these links in case reddit goes down) + +Historical Resistance/Support: + +116.5, 125.5, 132.5, 141, 145, 147.5, 150, 152.5, 157 (ATM offering), 158.5, 162.5, 163, 165.5, 172.5, 174, 176.5, 180, 182.5, 184, 187.5, **190**, 192.5, 195, 196.5, 197.5, 200, 209, 211.5, 214.5, 218, 225.20 (ATM offering) 227.5, 232.5, 235, 242.5, 250, 255, 262.5, 275, 280, 285, 300, 302.50, 310, 317.50, 325, 332.5, 340, 350, 400, 483, moon base... + +# After-Party + +Well that was a sweet day. If this movement was all gamma exposure, I'd be shocked it's possible some of the FTDs from last week got kicked with married put calls but the options OI doesn't support that theory very strongly. If we continue up in after hours and pre-market however it is likely. + +I guess we'll need to check the 12/1/21 FTD report for FTDs today when it's released. The Loopring news may have made a bigger splash than expected. + +Either way it feel nice being green. Thanks for tuning in, I'll see you all tomorrow. + +https://preview.redd.it/q3p0hrv9j1x71.png?width=695&format=png&auto=webp&s=622d05b8fa54d423523c124abe095a0b17449a58 + +Edit 9 3:16 + +Volume is drying up a bit and the lower high on this last peak looks like we might be done with the up for today, we may see a small push into close . + +https://preview.redd.it/ahkxc8cma1x71.png?width=1601&format=png&auto=webp&s=b46387f4aa72cfbb23f1dec3b5257ec54c3f0ba4 + +Edit 8 1:42 + +Triangles! looks like an upside break. + +https://preview.redd.it/75lh20wnt0x71.png?width=1602&format=png&auto=webp&s=72828895c4b024ba7e03db407347f4c9ae102333 + +Edit 7 1:38 + +First break to the downside of the 1m EMA 120 this could be a signal of downward price movement. We broke to the upside of the long-term trend we now have support around 196. + +https://preview.redd.it/wthyneb7t0x71.png?width=1600&format=png&auto=webp&s=e04104a75a1b674f28841965f74719b59c7cbc19 + +Edit 6 1:01 + +199 LFG! + +https://preview.redd.it/qipqr50hm0x71.png?width=1599&format=png&auto=webp&s=21a033271f9d2e8762d12456fd14294dce72d9e5 + +Edit 5 12:13 + +Pushing up into 197 on this one before seeing a rejection. Holding the EMA 60 (green line) means the uptrend is likely to continue. + +https://preview.redd.it/d35wm41zd0x71.png?width=1624&format=png&auto=webp&s=ef8795443906135fa9f0c01acec2b3bca5badc98 + +Edit 4 11:11 + +Second rejection at 195, time to find a support...higher than 190 is bullish, support at 190 could see a fail and a drop below. + +https://preview.redd.it/h54b4ptu20x71.png?width=1617&format=png&auto=webp&s=6a9b18527554481f54aa0ff5be58fea461000f95 + +Edit 3 10:46 + +Finally got a hard rejection at 195, we consolidated on the 190 resistance and are moving back up again. + +https://preview.redd.it/y84if13fyzw71.png?width=1627&format=png&auto=webp&s=7da690034e2507761c346f35ff6c150b95e4fb61 + +Edit 2 10:17 + +Big breakout out of that consolidating wedge to the upside and a slight rejection on the old long-term trend around 194, we could consolidate and continue up. + +https://preview.redd.it/crifspv9tzw71.png?width=1631&format=png&auto=webp&s=f80d6ff3560d1097cdbc099c3c9fcae581fe1500 + +Edit 1 9:45 + +Looks like the the market has run out of fucks for Jenna Owens, RIP + +https://preview.redd.it/38sns6kenzw71.png?width=1619&format=png&auto=webp&s=0e1b1c97a49dc584154b98649d2c1f1561ecee4d + +# Pre-Market Analysis + +11.7k Volume so far. Shares to borrow are... + +IBKR: 40,000 + +Fidelity: 754,365 + +Actually far more stable in the pre-market than I would have expected. 180 acting as a solid support no extreme price action means the market may not be taking the departure of the COO that unfavorably. + +Supports to the downside - + +* EMA120 - $178.52 +* EMA160 - $169.47 +* EMA180 - $164.14 + +[GME pre-market on the 1m](https://preview.redd.it/h8ti8ihldzw71.png?width=1621&format=png&auto=webp&s=256b59231063023cb85c9640192c806e4b1d0b6b) + +Oscillators still look really good TTM Squeeze, BBKC, MACD and ADX all showing bullish signals going into this morning. + +**Disclaimer** + +*\* Although my profession is day trading, I in no way endorse day-trading of GME not only does it present significant risk, it can delay the squeeze. If you are one of the people that use this information to day trade this stock, I hope you sell at resistance then it turns around and gaps up to $500.* 😁 + +*\*My YouTube channel is "monetized" if that is something you are uncomfortable with, I understand, while I wouldn't say I profit greatly from the views, I do suggest you use ad-block when viewing it if you feel so compelled.* *My intention is simply benefit this community. For those that find value in and want to reward my work, I thank you. For those that do not I encourage you to enjoy the content. As always this information is intended to be free to everyone.* + +\**This is not Financial advice. The ideas and opinions expressed here are for educational and entertainment purposes only.* + +\* *No position is worth your life and debt can always be repaid. Please if you need help reach out this community is here for you. Also the NSPL Phone: 800-273-8255 Hours: Available 24 hours. Languages: English, Spanish.* [*Learn more*](https://suicidepreventionlifeline.org/) +[Post 1: Basics: CALL, PUT, exercise, ITM, ATM, OTM](https://www.reddit.com/r/investing/comments/hdft5z/how_to_not_get_ruined_with_options_part_1_of_4/) + +**Post 2: Basics: Buying and Selling, the Greeks** + +[Post 3a: Simple Strategies](https://www.reddit.com/r/investing/comments/hgomwv/how_to_not_get_ruined_with_options_part_3a_of_4/) + +[Post 3b: Advanced Strategies](https://www.reddit.com/r/investing/comments/hgp05y/how_to_not_get_ruined_with_options_part_3b_of_4/) + +[Post 4a: Example of trades (short puts, covered calls, and verticals)](https://www.reddit.com/r/investing/comments/hlb9ns/how_to_not_get_ruined_with_options_part_4a_of_4/) + +[Post 4b: Example of trades (calendars and hedges)](https://www.reddit.com/r/investing/comments/hu8uh9/how_to_not_get_ruined_with_options_last_post_part/) + +`---` + +This is a follow up of the [first](https://www.reddit.com/r/investing/comments/hdft5z/how_to_not_get_ruined_with_options_part_1_of_4/) post. + +**The basics: Volatility and Time** + +Now that you understand the basics of intrinsic and extrinsic values and how together gives a price to the premium, it is important to understand how the extrinsic value is actually calculated. The intrinsic value is easy: + +The intrinsic value of a call = share price - strike (if positive, $0 otherwise) + +The intrinsic value of a put = strike - share price (if positive, $0 otherwise) + +The extrinsic value is mostly based on two variables: volatility of the share price and time. + +Given the historic volatility, and the predicted volatility, how far can the share price go by the expiration date? The longer the date, and the higher the share volatility, the higher the chance of the share to change significantly. + +A share that jumped from $25 to $50 in the past few weeks (hello NKLA!) will have much higher volatility than a share that stayed at $50 for several months in a row. Similarly, an option expiring in two months will have a higher extrinsic value than an option expiring in one month, just because the share has more chances to move more in two months than a single month. + +The extrinsic value is calculated as a combination of both the expiration date (how many days to expiration, hours even when you are close to expiration), and the implied volatility of the share. + +Each strike, call or put, will have their own implied volatility. It is quite noticeable when you look at all the strikes for the same expiration. Sometimes, you can even arbitrage this between strikes and expiration dates. + +**The basics: Buying and Selling contracts** + +Until now, we have only talked about buying call and put contracts. You pay a premium to get a contract that allows you to buy (call) or sell (put) shares of a specific instrument. + +As your risk is the cost of your premium, you can notice that buying options is a risky proposition. + +To make a profit on the buying side: + +1. You have to be directionally correct. The price must go up for calls, down for puts. +2. AND the share price move must be bigger than the premium you paid. +3. AND the share price move must happen before the option expiration. + +You will notice that it is pretty unforgiving. Sure, when you are right, you can make a 100% to 1000% profit in a few months, weeks, or even days. But there is a big chance that you will suffer death by thousands of cuts with your long call or put contracts losing value every day and become worthless. + +We were discussing earlier how volatile stocks can have a high extrinsic value. What happens to your option price if the share is changing a lot and suddenly calms down? The extrinsic portion of the option price will crater quickly because volatility dropped, and time is still passing every day. + +The same way you can buy options, you can also sell call and put options. Instead of buying the right to exercise your ITM calls and puts, you sell that right to a 3rd party (usually market makers). + +To make a profit on the selling side: + +1. You have to be directionally correct. +2. OR the share price does not move as much as the premium. +3. OR the share price does not move before the option expiration. + +Buying calls and puts mean that you need to have strong convictions on the share’s direction. I know that I am not good at predicting the future. However, I do believe in reversion to the mean (especially in this market :)), and I like to be paid as time is passing. In case you didn't guess yet, yes, I mostly sell options, I don’t buy them. This is a different risk, instead of death by a thousand cuts, a single trade can have a big loss, so proper contract sizing is really important. + +It is worth noting that because you sold the right of exercise to a 3rd party, they can exercise at any time the option is ITM. When one party exercises, the broker randomly picks one of the option sellers and exercises the contract there. When you are on the receiving end of the exercise, it is called an assignment. As indicated earlier, for most parts, you will not be getting assigned on your short options as long as there is some extrinsic value left (because it is more profitable to sell the option than exercising it). Deep ITM options are more at risk, due to the sometimes inexistent extrinsic value. Also, the options just before the ex-dividend date when the dividend is as bigger than the extrinsic value are at risk, as it is a good way to get the dividend for a smaller cash outlay with little risk. + +In summary: + +* Buying a call, you hope the price to go up significantly. + * Max loss is the premium. You lose money with time. + * Max profit is infinity, minus the premium. +* Buying a put, you hope the price to go down significantly. + * Max loss is the premium. You lose money with time. + * Max profit is the strike price, minus the premium. +* Selling a call, you hope the price to not change much, or to go down. + * Max loss is infinity (just don’t sell straight calls, at most do verticals - see next post). + * Max profit is the premium. You profit from time. +* Selling a put, you hope the price to not change much, or to go up. + * Max loss is the strike price. + * Max profit is the premium. You profit from time. + +**The Greeks** + +Each option contract has a complex formula to calculate its premium (Black-Scholes is usually a good initial option pricing model to calculate the premiums). + +Things that will determine the option premium are: + +* Current share price +* Strike price +* Call or Put +* American or European style options +* Cost of money (or risk-free rate) +* Volatility +* And the time to expiration + +There are four key values calculated from the current option price: delta, gamma, theta, and vega. In the options world, we call them ‘the Greeks’. + +**Delta** is how correlated your option price is compared to the underlying share price. By definition 100 shares have a delta of 100. If an option has a delta of 50, it means that if the share price increases by $1, the new price of your option means that you earned $50. Conversely, a drop of $1 means you will lose $50. + +Each call contract bought will have a delta from 0 to 100. A deep ITM call will have a delta close to 100. An ATM call will have a delta around 50. Note that on expiration day, as the intrinsic value disappears, an ATM call behaves like the share price, with a delta close to 100. Buying a put will have a negative delta. A deep ITM put will have a delta close to -100. Selling a call will have a negative delta, selling a put will have a positive delta. + +**Gamma** is the rate of change of delta as the underlying share price changes. Unless you are a market maker or doing gamma scalping (profiting from small changes in the share price), you should not worry too much about gamma. + +**Theta** is how much money you lose or profit per day (week-end included!) on your option contracts. If you bought a call/put, your theta will be negative (you lose money every day due to the time passing closer to the contract expiration, and your option price slowly eroding). If you sold a call/put, your theta will be positive (you earn money every day from the premium). It is important to note that the theta accelerates as you get closer to the expiration. For the same strike and volatility, a theta for an option that has one month left will be smaller than the theta for an option that has one week left, and bigger than an option that has 6 months left. In the third post, I will explain how you can take advantage of this. + +FWIW, with the current volatility, I get 0.1% to 0.2% of Return On Risk per day, so roughly 35% to 70% of return annualized. I don’t expect these numbers to keep like this for a long time, but I will profit as long as we are in this sideways market. I also have an overall positive delta, so I will benefit as the market goes up, and theta gain will soften the blow when the market goes down. + +**Vega** is how much your option price will increase or decrease when the implied volatility of the share price increase by 1%. If you bought some puts or calls, your vega will be positive, as your extrinsic value will increase when volatility increases. Conversely, if you sold some puts or calls, your vega will be negative. On the sell side, you want the actual volatility to be lower than the implied volatility to make money. + +This is why we often say that you sell options to sell the volatility. When volatility is high, sell options. When volatility is low, buy options. Not the opposite. This also explains why some people lose money when playing stock earnings despite being directionally correct. Before earnings, the option price takes into account the expected stock price change, so the volatility is significantly higher than usual. They bought an expensive call or put, numbers are out, share price moves in the correct direction, but because suddenly the volatility dropped (no uncertainty about the earnings anymore), the extrinsic value of the option got crushed, and offset the increase in intrinsic value. The result is not as much profit as expected or even a loss. + +**Bid/Ask spread** + +Options are less liquid than the corresponding shares, especially given the sheer quantity of strikes and expiration dates. The gap between the bid and the ask can be pretty big. If you are not careful about how you enter and exit the trade, you will transform a profitable trade into a losing one. Due to the small contract costs, the bid/ask spread adds up quickly, and with the trading fees, they can represent 10% or more of your profit. Beware! + +Never ever buy or sell an option at the market price. Always use a limit order, start with the mid-price, or be even more aggressive. See if someone bites, it happens. If not, give up $0.05 or less, wait a bit longer, and do it again. Be patient. If you are at mid-price between the bid and the ask, and you think this is a fair price, and the market or time is on your side, again just be patient. It is better to not enter a trade that is not in your own terms than overpaying/underselling and reducing your profit/risk ratio too much. + +**LEAPs** + +Leap options have a very long expiration date. Usually one year or more. ETF indexes, like SPY, can have leaps of 1, 2, or 3 years away. They offer some advantages as they have a low theta. A deep ITM Leap can behave like the stock with 30% of the cost. Just remember that if the share drops by 30% long term, you will lose everything. Watch out! This is a personal experience of mine in 2008, where I diversified away from a few companies to many more companies by buying multiple leaps. It was akin to changing 100 shares into options with a delta of 250. However, when the market tanked, all these deep ITM leaps lost significantly (more than if I only had 100 shares). Good lesson learned. You win some, you lose some. + +**Number of shares** + +The vast majority of options trades at 100 shares per contract. But during share splits, or reverse splits, company reorganizations, or special dividend distributions, the numbers of shares can change. The options are automatically updated. + +The 1:N splits are easily converted as you just get more contracts, and your strike is getting adjusted. For example, let’s say you own 1 contract of ABC with a strike of $200 controlling 100 shares (so exposure to $20k). Then the company splits 1:4, you are going to get 4 contracts with a strike of $50, with each contract controlling 100 shares (so still the same exposure of $20k). + +The N:1 reverse splits are a tad more complex. Say you have 1 contract of ABC with a strike of $1, controlling 100 shares (so exposure to $100). Then the company reverse splits 5:1, you are going to still get 1 contract, but with a strike of $5, with each contract controlling 20 shares (so still the same exposure of $100). You will still be able to trade these 20 shares contracts but they will slowly trade less and less and disappear over time, as new 100 shares contracts will be created alongside. + +**Brokers and fees** + +In my experience, ThinkOrSwim (TOS owned by TD Ameritrade, being bought by Schwab) is one of the very best brokers to trade options. The software on PC, Mac, iPad, or iPhone is top-notch. Very easy to use, very intuitive, very responsive. Pricing on contracts dropped recently, it’s now $0.65 per contract, with $0 for exercise or assignment. You may actually be able to negotiate an even better price. + +I also have Interactive Brokers (IB), and that’s the other side of the spectrum. The software is very buggy, unstable, unintuitive, and slow to update. I tried few options trades and got too frustrated to continue. Too bad, it has very good margin rates (although if you are an option seller it is not really needed, as you receive cash when you open your trades). However, it’s perfectly acceptable to trade plain ETFs and shares. + +**Market Markers** + +Most of the options you buy or sell from will be provided by the Markets Makers. Do not expect that you will get good deals from them. + +You will see in the third post how you selling a put and buying a call is equivalent to buy a share. When you buy/sell a call / put from the market makers, you are guaranteed that they will hedge their corresponding positions by buying/selling a share and the opposite options (put/call). + +The [next](https://www.reddit.com/r/investing/comments/hgomwv/how_to_not_get_ruined_with_options_part_3a_of_4/) post will introduce you to simple option strategies. + +`---` + +[Post 1: Basics: CALL, PUT, exercise, ITM, ATM, OTM](https://www.reddit.com/r/investing/comments/hdft5z/how_to_not_get_ruined_with_options_part_1_of_4/) + +**Post 2: Basics: Buying and Selling, the Greeks** + +[Post 3a: Simple Strategies](https://www.reddit.com/r/investing/comments/hgomwv/how_to_not_get_ruined_with_options_part_3a_of_4/) + +[Post 3b: Advanced Strategies](https://www.reddit.com/r/investing/comments/hgp05y/how_to_not_get_ruined_with_options_part_3b_of_4/) + +[Post 4a: Example of trades (short puts, covered calls, and verticals)](https://www.reddit.com/r/investing/comments/hlb9ns/how_to_not_get_ruined_with_options_part_4a_of_4/) + +[Post 4b: Example of trades (calendars and hedges)](https://www.reddit.com/r/investing/comments/hu8uh9/how_to_not_get_ruined_with_options_last_post_part/) +https://www.wsj.com/articles/greece-once-in-crisis-joins-negative-rates-club-11570640925?shareToken=st41c05cd052b54d56aa5329eb9f4f571c + +Apologies if there are paywall issues. +TL;DR: Greece issued €487.5 million worth of three month bonds yielding -0.02%. + +It's obviously a short duration, but still a watershed moment. +Hi all, +I've been trading options for five years now and have refined my strategy to the point where's I'm making 2-3x more than my day job. + +I expect to have two years of expenses saved in the coming months. + +What other things do I need to consider? +>Neoliberalism is contemporarily used to refer to market-oriented reform policies such as "eliminating price controls, deregulating capital markets, lowering trade barriers" and reducing, especially through privatization and austerity, state influence in the economy. + +\- Wikipedia +I am trying to understand in simple terms how the economy works, so if my model is too simplistic let me know. + +Say I work at a company, and in a week of work I can make them 10 chairs. They sell the chairs at a higher price, so I spend my whole paycheck on one chair. The company how has essentially 9 free chairs, but I don't have any more money. If all business generally run like this, no one else has any money either so they have no one to sell the chairs to. Where is the money coming from that people spend on the other 9 chairs to generate a profit for my company? +Like the Maxwell eqns of EM and the axioms of math, what be an equivalent in economics that serves as foundation for the rest of the theory? Would optimisation (cost min or profit maximization) qualify as a universal truth of Econ? + +Sorry for the wordy title + +Thanks +My understanding is that free-trade globalist policies can have negative effects on industries in developed nations, for example the downfall of the automotive industry in Australia. Are there 'middle ground' policies that governments can adopt to boost bi-lateral or multi-lateral deals and embrace globalism whilst not promoting overly protectionist policies? +Title is a little self explanatory though without a doubt I will be pursuing a major in economics, I have quite the passion for it. For now I'm only doing two first year courses not too mathematically heavy so I have some free time. I have very little maths abilities and I am currently reading Basic Economics by Thomas Sowell. Though I understand his economic opinions are quite the outlier with current economic school of thought. (What would be the name of the current mainstream economic theory these days if there's such a thing?) + +So in a general sense I'm open to any tips that would allow me to be more prepared. But I would like to be familiar with more economic terms and theories and know what mathematics I should expect. + +Thanks in advance. +In the past few decades there has been significant social pressure for women to persue careers and enter the workforce. Let's say 2/3 of women enter the workforce, now the supply of labor has drastically increased. Since the supply of jobs hasn't changed, would this contribute to stagnating wages? + +If so, have there been any attempts to quantify the effect size? Is the effect localized to jobs women prefer (like healthcare)? + +I'm curious if this thought process is logical and if there are any confounds i didn't think of. + +Further reading and sources are greatly appreciated! +I read a Bloomberg article [here](https://www.google.com/amp/s/www.bloomberg.com/amp/news/articles/2018-07-24/automakers-saved-on-tax-cuts-here-s-how-much-they-may-give-back) saying that Ford spent $509M on tariffs and saved $208M in Q1. Seems like they should more than offset. What am I missing here? +https://www.bloomberg.com/opinion/articles/2021-03-02/berlin-s-rent-controls-are-proving-to-be-the-disaster-we-feared?utm_medium=social&utm_content=view&utm_source=twitter&utm_campaign=socialflow-organic&cmpid%3D=socialflow-twitter-view + +Are rent controls the best solution or is there another way? +I often hear people say that China "will surpass" the US as the largest economy in the world. + +But the US is the largest economy by GDP nominal, which we know is less accurate than PPP. By GDP PPP China is already the largest economy. + +What is the reason of this apparent confusion? +Never been here but i need some help. So a friend of mine is 99% convinced he is on some sort of blacklist and whenever he is distracted or sleeping or opens a trade the market will hit his stoplosses or directly go opposite. He says one time he was awake for 3 days(gotta love drugs) and trading and nothing happened and when he finally went to sleep all his stoplosses triggered. I mean, there is most likely manipulation going on in most markets, but specific to him.. no way. Give me some arguments to help him realize he is saying total BS +Never been here but i need some help. So a friend of mine is 99% convinced he is on some sort of blacklist and whenever he is distracted or sleeping or opens a trade the market will hit his stoplosses or directly go opposite. He says one time he was awake for 3 days(gotta love drugs) and trading and nothing happened and when he finally went to sleep all his stoplosses triggered. I mean, there is most likely manipulation going on in most markets, but specific to him.. no way. Give me some arguments to help him realize he is saying total BS +Never been here but i need some help. So a friend of mine is 99% convinced he is on some sort of blacklist and whenever he is distracted or sleeping or opens a trade the market will hit his stoplosses or directly go opposite. He says one time he was awake for 3 days(gotta love drugs) and trading and nothing happened and when he finally went to sleep all his stoplosses triggered. I mean, there is most likely manipulation going on in most markets, but specific to him.. no way. Give me some arguments to help him realize he is saying total BS +So, the question is as old as investing but I can't find a good answer to it, maybe you can help shed some light on this. + +Someone makes a few hundred thousands or even millions of $ investing and trading. + +Why would they want to charge for a course or program to teach others? + +If what they teach doesn't hurt them as an investor (some secret strategy that when spread to the world would make it less effective) then they EITHER have no motivation to charge 2 to 10k when they can easily make that money on their own with no responsibility towards others, salesmanship and hours spent working for someone else OR they can do it for free, if they really want to help others and THAT is their true motivation and they feel like they have a mission or a vocation of sorts. + +But why charge for it and turn something that makes you free into just another job where you have to respond to others? + +Is there really a good reason or those who do that are actually just scammers or kind of? +Hey, I am a teenager who is interested in trading. Mainly ethical trading, but I don't know if thats relevant to my question. Apps like robinhood seem nice because of their simplicity, but I noticed you have to be 18 to use them. So I guess my only option is a custodial account. + +I see sites/apps like Loved that seem nice, but also many other sites like Schab, Betterment and Tradestation. + +Does anyone have any advice on what I can do and what platform I should sign up for? +Is there any significant differences between trading the 2? Both heavily otherwise completely rely on technical analysis right? + +I think some brokers offer more leverage on forex trading which might make it more attractive i guess. + +But bitcoin can be more volatile so it's more profitable if ure good at TA? +So I currently make about 0.16% a day day trading which is like 3% a month but when I swing trade I can make upwards of 20% in 2-3 months. Am I just bad at day trading or is swing trading better? + +I trade on the TSX +(Toronto stock exchange) if that makes any difference. +A 2 or 3 would have less chance to occur even if there is more profit. A 1:1 would also be the most consistent with higher chance of take profit hitting. +I just got a text from Coinbase giving me a verification code for my account, which I didn't initiate. + +Then I got a call from "Coinbase." The guy on the line said I needed to change my password. When I told him I'd call Coinbase back, he stuttered and said, "Uh, what for? We're on the line now." I told him to scam someone else and that I was calling the FBI (lol). He called back and started with how I needed to change my password. I again told him not to call me and that I was going to contact the FBI. + +I don't use Coinbase anymore (don't really dabble in cryptocurrency anymore), but I changed my password (online, not over the phone) anyway.If someone calls asking for sensitive information, tell them you'll call the company back and give it to them then. YOU be in control of the call, not them. Just wanted to give everyone a heads up! + + + +Edit: Apparently, the number that called me \[(888) 908-7930\] IS from Coinbase, according to an article posted by u/[obavijest](https://www.reddit.com/user/obavijest) ([https://blog.coinbase.com/announcing-coinbase-phone-support-1-888-908-7930-5a7c8385b47d?gi=58c3bc37c002](https://blog.coinbase.com/announcing-coinbase-phone-support-1-888-908-7930-5a7c8385b47d?gi=58c3bc37c002)). Still not sure why THEY would call ME, especially since I haven’t used them in over a month. He was specifically calling about changing my password, and after the 2nd time I picked up, he told me to click the link in my email. I find it suspicious that he wasn’t okay with me calling them back, and to click a link in my email. + +Edit 2: yes, I know number can be spoofed to look like the real thing. That’s why I told them I’d call them back, didn’t give them my information, and posted this. +To pay medical bills for my child. I’m just so sad all around. I did it for a loving reason but I just thought I’d share it’s ok to just be sad sometimes. And to have set backs. We felt like we were finally in the clear and felt like we had our shit together. It was a beautiful 4 months. I can’t stop crying and I didn’t think I was materialistic. + +Edit: I’m overwhelmed by the love and kind words. Thanks so much everybody. Reddit community is the best. ❤️ +I am 62 and my husband (70) of 39 years is being swept away from me by one of the cruelest diseases as he is in the early stages of alzhiemers with recent indications that the disease is progressing at steady rate. He was (still has his license) a CPA and always handled our finances. It was not a marriage of my husband controlling me through controlling the money. I was not ever interested in the budget, most everything is in both of our names except for a couple of investments in my name only, which I established to have something in my own name. I did not have a retirement account in my name only so I bought a CUNA CMFG deferred premium annunity for $30,000. The ending contract value is $32,165.12 as of 9/02/18. The other money I have is an etrade account (used to be capital one I believe) where I have bought stocks starting when my son was in highschool and he opened an account as a minor with me as guardian for an economics class. I opened my own stock account at the same time.. I bought stocks that appealed to me for random reasons for the past 10-15 years. There is about $25,000 in there now. With the current chaotic environment in our country now, who knows if there will be .25 in it before long. + +I know I will have to hire an attorney/cpa for assistance as my husband's disease takes more of a hold. It is such a painful loss to whom he has always been for him now not be able to be responsible for the finances of our family. My questions therefore are should I leave the deffered annunity where it is what about or the stocks? Although I do not think I will need to access this money in any short time period, the future is uncertain and I do want it to be accessable if I need it quickly. Thank you, I am feeling somewhat embarrassed that I do not know more about finances. I recognize that I am going to need to handle the responsibility for our finances/my finances whether I feel emotionally able to handle thisor not. +If you are looking to buy in now is a horrible time. When the greed becomes insane (as it is now just look at the front page right now) you should simply wait a few days for everything to settle back down first. All I see when the market is green is posts about how we are just at the start of a bull run and Bitcoin will be millions soon and we will all be rich. But literally every time everything comes back down in a few days. +If anyone is seriously considering buying in now just wait a little while first before we get in. +But also mind you fuck me I don't know jack shit about this lmao +So. I'm 28 years old. While I've technically been alive during a recession, I've never worked through one. I was in college during the 2008 crisis, and was in junior high / middle school during the dot com crash. + +Any perspective would be invaluable, but I'm also interested in the perspective from freelancers, as I'm a freelancer myself. I imagine most "normal" people would worry about layoffs, so would the equivalent for freelancers be clients dropping because they can't afford to pay for your services? + +Also, is a recession as scary as it sounds? Like... what's the practical financial impact on your life? + +Right now, everything is great. I'm able to pay off my debt (student loans, no CC), put money in investments, maintain my emergency fund, and reward myself. Because I'm a freelancer, it's taken me about 3-5 years to reach this level of stability, but now it feels great, and it's really worrisome reading about all these predictors of an upcoming recession. + +Side note -- do you think we'll see another crash as bad as 08 in our lifetime? + +Thanks in advance for your time and responses. + + +Hello...again... + +Original Post: [Held financially hostage (18f) by my brother...](https://www.reddit.com/r/povertyfinance/comments/u4w40u/held_financially_hostage_for_life_18f_by_my/) + +Sadly my brother has found my post history. This account will go quieter. I'm not only being surveillanced, but he also knows about me having changed all banking information about me and planning to move away. And all else from the above post... + +&#x200B; + +I need your help since he's urging me about some things... I mean, he's done quite a lot for me, he's taken over 2500 dollars of debt of mine and paid them off. He's picked me up when I was far away from home (100 miles)... and I can pay him out in case he wants that back. But he's pressuring me about him who would always let me live with him in case something happens to me and that I'm ungrateful for not offering him the same. + +&#x200B; + +He's currently threatening me about reddit knowing about our circumstances not fully or correctly, he's claiming this is all bogus and I should not listen to you all for advice, as you did not go through the life and obstacles he went through (him starting with 12k of debt into his work life) + +&#x200B; + +Now he's threatening to commence nefarious stuff in his words, or at the very least, as soon as our mother is dead, sit on my doorstep and break in, to have a place to stay at... The issue is, our mom is sick and I kno she won't have too long on this earth, if all continues to boil up even more .... + +&#x200B; + +So I might just end up in college, or later on in life with a dude set out to track me down for whatever nefarious purpose. + +He's claiming that him ending up in prison or alike is my responsibility then... + +&#x200B; + +Oh man... I'm kinda scared. I have about some savings in my bank account right now to keep me afloat, and no active income. I dunno if I should move away immediately and just rent a room with airbnb or something... + +&#x200B; + +Anyone got any advice? Am I in a dangerous situation? I'm torn. I know this is all emotional manipulation by him but I have no responses. I am permanently manipulated, permanently insecure and I can't defend myself. +Im a 19yr old and after many years of being a stoner I’ve always thought back on how much money I’ve wasted on something ill never get back. Some might say you can’t put a price on memories but the truth is for me that I don’t remember 80% of the shit I’ve done while high. + +At the beginning of this pandemic I was a little happy I now had an excuse to just stay at home and smoke my weed but I quickly started to see things differently. I was now wasting away my days and gaining absolutely nothing. + +So around New Years I decided I wanted to take a break and just breath and see if I could do more or even be just as happy without weed. After just a few weeks I understood that all it did was make my mind foggy and take away my time. Recently I became very intrigued by crypto currencies and it boggled my mind how bulletproof Bitcoin seemed to me. I do believe it can be a major asset in the future and if not Bitcoin it self it’ll at least pave the way for the others. + +So I’ve decided I will now take all the money I save from not smoking anymore and put it into Bitcoin mostly and other cryptos and stocks. I will do so by DCA and I’m so excited to see where this goes. I hope this post can maybe point other young adults in the same direction and to be smarter with your money. + +EDIT: Thank you guys for all the meaningful words and support, y’all got me feeling all warm and fuzzy inside lol + +EDIT 2: +I see a lot of you guys saying why don’t I just grow my own MJ and then take the profits to buy Bitcoin or stocks afterwards. I could do this as I do live in a country where it’s legal. But I guess I didn’t make it very clear that PERSONALLY I’ve always had my doubts of being a daily user and I’ve taken breaks or tried quitting before but I always came back to it. Even trying to smoke in moderation always brought me back to using daily. To my luck I was able to throw dabs away and just stick to flower as I found that to be much better more my health and mentality. However the main goal of this post was to show people how the real reason I’ve been able to go full on cold turkey is by simply replacing a bad habit with a good one. Investing. This wasn’t to persuade everyone but simply help push those who were on the edge like I was. + +I’ve already gotten tons and tons of comments about how I’ve inspired many to change and I’m so glad to have helped. KEEP IT UP! Your future self’s will thank you +Is it financially advantageous to just stay in the first house we ever bought? + +There are opportunities to buy way further away from work for less and possibly cash in on a hot market, but I’m not sure if I would even like the area anyways. + +Am I somehow missing out on the property game if I just stay in one place forever? +I'm trying to transfer an account from Betterment to Vanguard worth over $2M. + +Betterment requires a so-called "Medallion Signature Guarantee" from a bank for all outgoing transfers over $250K. All of the standard advice I can find online is "just ask your bank, it's easy". + +The problem is that my bank (Citibank) is only licensed to provide MSGs up to $2M in value, and I can find literally nothing online about how to get an MSG for more value than that. + +I'm considering selling my account down to $1.9M or so and just taking the tax hit, but surely there must be better options out there? +We all know that finally getting a foot on the property ladder is an important milestone, and struggling to reach that point can sometimes be a source of huge frustration for those of us who haven't got there yet. Buying your first home is almost always cause for celebration, but how many of you had regrets after your first purchase? + + +Edit: Also keen to hear where you bought. I get the sense that someone who dropped more than half a million on a studio apartment in Sydney would have a few more regrets than someone who spent the same amount somewhere more regional. +Interactive Brokers, portfolio margin. I do safe Covered calls with protective puts, on leaps I don't want to sell yet, and my account is all equity at this point. If I wanted to borrow against that I could probably get 75% (?) of my account value as a cheap loan for other uses- home improvement etc. + + + +I would leave enough for maintenance margin- but the put/call spreads are so small that even 5-10% of the equity would be enough, even in a crash. + +So would I just do a transfer to my linked checking account at Chase, and ignore that it's greater than my cash balance in IB? And the next month I would see interest, and buying power reduced? Simple as that? + +EDIT 2 Got my answer. One comment is from someone who does exactly this. You can use a debit card against margin, or call them and have money wired to your bank account against margin, and they advertise the rate on this card as under 1.5% so same as trading margin rate. If you have big account it's even lower- but variable. + + +EDIT based on a few comments that Schwab allows this, I found this on IB site...a Debit card you can use against margin. Wonder if they'd approve a 1 million debit card transaction on a condo lol...but doesn't mention any limit. Just a calculator of how much you can borrow, and for laughs I put in "10,000,000 long stock" and it said 8.5 Million limit if portfolio margin. + +https://www.interactivebrokers.com/en/index.php?f=26451 +As we all know, leveraged ETFs serve to amplify the daily effect of the indexes. + +$1 in S&P returns $4,059 from 1928 to 2020 + +$1 in 3x leveraged S&P, over the same time period, returns $2,763,322, or 681x. +(Source: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2741701) + +Jack Bogle admitted that, in theory, leveraged equities would give the best return over the long run, provided that one gets bailed out during the downturn. +(Source: https://youtu.be/k6ra5POdsYg?t=10m20s) + +Despite its long-term superior performance, a major drawback of leveraged ETF is that it would take longer than a typical investor's investment time span to recover from 99.9% losses, so it by nature does not merit to be included in every human's portfolio. + +Edit: From my understanding, this type of leveraged ETFs, assuming it existed back then, lagged behind the actual indexes for the first 10, even 20 years, because of the Great Depression (index recovered a lot quicker because smaller loss). However, 30, 40 years in the leveraged version leaves index behind the dust. This is one more perspective I wanted to add: could leveraged be the ultimate "long"? + +Now I guess my question is, disregarding its effectiveness as an investment tool, how can leveraged ETF be sustainable? Under the assumption that the fund survives that long, wouldn't all the money in the world be sucked into these leveraged ETFs in say, 100 years? +I'm trying to not be too highly allocated to any one stock in my trading account, but as a result, I'm using less than half my account right now. Looking for some other stocks to trade on right now, and figured I would consult with the gang and see what everyone else believes in and why. + +My top choice right now is CLF. Mainly for their vertical integration which I feel like gives them a good measure of control over the entire steel making process, the fact that they've been around since 1847 which to me speaks of doing at least something right to survive that long, and the upcoming infrastructure bill, which I would assume is going to "Buy American" and set CLF up for some good business. + +The fact that they JUST bought a large scrap metal recycler (news came out this week) adds to my conviction, and supports my belief in their vertical integration. (I got lucky in that I had a 20.5C that I bought out of at the end of last week since I wanted to hold on to my shares, and then they popped on the scrap metal recycler news this week.) + +Options are juicy enough my taste (1-1.5%/week) at the 30 delta level either way (P or C), so I've been opening strangles for a while and I'll probably continue opening for another while. I'm not trying to do anything fancy with them. + +That all said: this is my top pick right now because I believe in them long term, but I still don't want to overallocate towards them JUST IN CASE. + +So whats your top conviction stock, and why? +We all know basic spreads, condors, ect. Does anyone here trade more complicated strategies that most people aren’t aware of? If so please share the strategy and your experience with it. +##PREFACE +This post is about [**BlackRock**](https://i.imgur.com/EHtH9nB.jpg) and how I believe they're involved in the Gamestop saga. I'm a simple man with few wrinkles, if you had asked me what a call option was last year I would have assumed you were talking about the automated choices you get on some robotic phone lines, so yeah this may come across as childish and naive. I'll be mostly just looking at 13F documents to look for patterns and to try and build a picture of events as they unfolded. I've read many posts about BlackRock but I've yet to see one post that ties everything together [**like I see it in my head**](https://i.imgur.com/7OvFsrl.jpg). + +Please note I don't come to any definite conclusions here, this is just my opinion and it's definitely not financial advice. I also didn't know Reddit posts had a 40k character limit so this is posted in 3 parts. [**Yeah it's big**](https://i.imgur.com/eqMXsM8.jpg), but I've tried to break it down into sections to make it easier to take in. + +*** +*** + +##TOO APE, DIDN'T READ: +BlackRock might be a force for good, but too soon to tell. + +*** +*** + +##TLDR: + +*(This is as short as I can make this)* + +- BlackRock is run by Larry Fink who debatably knows Wallstreet better than anyone else and he seems to be on a mission to clean things up. + +- BlackRock built one of the greatest market risk detection systems on the planet called Aladdin so Fink clearly knows what's happening with Gamestop. + +- I tracked GME institutional ownership back to March 2017 and found GME was getting shorted as far back as that. + +- BlackRock was [**willing to accept US Treasury bonds as collateral**](https://i.imgur.com/IeRVj8G.png) in share lending (possibly the only company to do so), and from Atobitt's everything short we know Shitadel had easy access to UST bonds. This implies BlackRock gave Shitadel a cheap way to start shorting GME. + +- BlackRock had held millions of GME for years and then sold shares in bulk at 2 points; when Gamestop needed shares for a stock buyback and when RC wanted to buy shares, both times BlackRock seemingly sold at a big loss. This seems like BlackRock was doing both parties a favor. + +- Fidelity and Dimensional Fund Advisors had also lent out GME for years, they then decided to sell all of their GME shares in Q1 2021, to do this they first had to recall the shares and I believe this caused the January squeeze, due to their shares having been rehypothecated for 4 years. + +- It wasn't only Gamestop where Fidelity sold shares, they sold their entire supply of 21 other stocks which all squeezed in Jan, so I think Fidelity caused these squeezes too. + +- I then looked at the 2020 market crash and [**BlackRock went into this without buying puts to protect themselves like they had done during previous crashes**](https://i.imgur.com/XuoZ0Ik.png), they also sold $ hundreds of billions worth of stock and then bought right back into the exact same positions mere weeks later. To me it seems BlackRock (possibly with the help of Vanguard) helped crash the markets so they could get the [**SLR**](https://www.risk.net/definition/supplementary-leverage-ratio-slr) (leverage) rule relaxed. This rule change meant the shorts could go even harder on their short positions thanks to banks having easier access to US Treasury bonds. + +- BlackRock made it easy for the shorts to borrow shares, then made it easier for shorting to happen during the pandemic and they sold GME to Gamestop and RC when they both needed them (at great cost to themselves). It just seems to me that BlackRock laid out a long trap over the past 4 years to hurt the shorts and cause the MOASS. Fidelity and Vanguard may have had a hand in this too; Fidelity also sold to Gamestop during the stock buyback and then caused all the squeezes in Jan, and Vanguard pretty much copied BlackRock's actions during the 2020 crash which led to the SLR rule change. Why did they do all this? Partially for self-interest, BlackRock & Vanguard have increased their positions in a lot of heavily shorted stock so will benefit from the many imminent squeezes (I'm eagerly awaiting the next 13F documents to see how their holdings look now). I also think they enabled the MOASS for the reason below: + +- My opinion is that BlackRock et al wanted to crash the markets so they can be rebuilt with sustainability in mind. [**BlackRock is apparently the key to redistributing $120 trillion worth of investment into sustainable companies**](https://uk.finance.yahoo.com/news/great-reset-blackrock-fueling-120-210000214.html), and I believe this will happen during and after the MOASS; BlackRock will pull out of any non-eco-friendly companies and push money into eco-friendly ones. + +- Larry Fink has been urging CEOs to release ESG data for their companies, ESG stands for Environmental, Societal and Governance and it measures non-financial factors like pollution, deforestation, gender and diversity policies, bribery and corruption, lobbying, executive compensation and many more points showing how "good" companies are at their core. I believe post MOASS high scoring ESG companies will boom while the others will dwindle. + +- Gary Gensler has also started pushing hard for ESG data to be released, implying this concept is accepted by the US government too. + +- The Great Reset is a term relating to sustainability and meeting net zero targets, it started getting used during the pandemic with the idea of "building back better" but so far, there's been very little done towards this so far. + +- The government has been quiet about the Great Reset, but John Kerry (currently serving as the first United States Special Presidential Envoy for Climate) said last year that the government will support the Great Reset and that the Great Reset "will happen with greater speed and with greater intensity than a lot of people might imagine" call me a tinfoil hat, but that sounds like a reference to the MOASS to me. + +- Finally I looked at how the DTCC have been working on [**Project Ion**](https://www.dtcc.com/~/media/Files/Downloads/settlement-asset-services/user-documentation/project-ION-paper-2020.pdf) and [**Project Whitney**](https://www.dtcc.com/~/media/Files/Downloads/settlement-asset-services/user-documentation/Project-Whitney-Paper.pdf) for the past 6 years, both of these are about digitizing securities to be traded on blockchain, particularly Ethereum (sound familiar?) + +- The SEC recently just happened to bring on a crypto expert (Gary Gensler) as their Chair around this time. + +- Additionally 45 different countries are currently researching CBDCs (central bank digital currencies) and the Federal Reserve is looking into a digital dollar too, which may come out with the arrival of a new crypto stock market. + +- The DTCC's own papers say that a point of resistance for a new digitized system is fighting the status quo and not fixing what isn't broken. Cue the MOASS. This will decimate the markets leaving a perfect opportunity for a new blockchain based stock exchange where the digital dollar can be introduced too. + +- Gamestop's crypto announcement could well be one of the first companies to trade on this new system. + +- Overall I believe there's been a 4 year plan in motion to crash the markets to the point they can be rebuilt from the bottom up. BlackRock might have enabled this, but Shitadel & Co were the perfect stooges to demonstrate just how badly the current system can be abused and why change is needed. + +- Finally there seems to have been a FUD campaign against BlackRock and the concept of the Great Reset, almost as if Shitadel is pissed off all of this is happening and they're now spreading FUD about these things just like with Gamestop. + +- I honestly believe that our buying and holding isn't just yielding us tendies, but that we're part of the greatest revolution ever that will help fight climate change and weed out corruption. + +*** +*** + +##HONORABLE MENTIONS: + +*(in alphabetical order)* + +- **/u/Atobitt** (the maestro himself) wrote [**The Everything Short**](https://reddit.com/r/GME/comments/mgucv2/the_everything_short/) which I'll explore in Section 5. + +- **/u/BarTPL0** wrote [**this post**](https://old.reddit.com/r/Superstonk/comments/mysvq9/dtcc_anticipates_completion_of_prototype/), the only one I've seen on Superstonk which mentions Project Ion, I'll mention this in Section 9. + +- **/u/Bladeace** wrote a post called [**'The NYSE threshold list: collapsing shorts and launching the MOASS'**](https://reddit.com/r/Superstonk/comments/oao9oo/the_nyse_threshold_list_collapsing_shorts_and/) which I'll look at in section 4. + +- **/u/BurnieSlander** wrote [**The Matrix is Everywhere. A Quant DD**](https://reddit.com/r/Superstonk/comments/nzajpv/the_matrix_is_everywhere_a_quant_dd/) which I'll touch on in Section 5. + +- **/u/Criand** has more wrinkles than a pruned avocado and I could read his posts all day long, but I'll just be looking at his [**The Bigger Short**](https://reddit.com/r/Superstonk/comments/o0scoy/the_bigger_short_how_2008_is_repeating_at_a_much/) post in Section 7. + +- **/u/Get-It-Got** wrote [**this post**](https://www.reddit.com/r/Superstonk/comments/ns7k6q/could_gamestops_liftoff_unravel_corporate_junk/?utm_source=reddit&utm_medium=usertext&context=3&utm_name=Superstonk&utm_content=t1_h1lw3ow) on HYG — IShares IBOXX $ High Yield Corporate Bond ETF, which I'll touch on Section 6. + +- **/u/--GrinAndBearIt--** made [**this post**](https://reddit.com/r/Superstonk/comments/ms4syp/blackrock_currently_has_3_exmember_inside_the/) which I'll look at in Section 8. + +- **/u/hell-mitc** wrote [**this post**](https://reddit.com/r/Superstonk/comments/mrstka/its_just_a_bug_bro_part_4_it_has_to_be_a_fucking/), if you're reading this I hope I can put your mind at ease in Section 7. + +- **/u/ringingbells** made [**this meme post**](https://www.reddit.com/r/Superstonk/comments/oizcqz/an_actual_unpopular_opinion/) which I'll address in Section 5. + +- **/u/SamBradfordSuperFan** recently wrote [**this post**](https://reddit.com/r/Superstonk/comments/okjctq/explaining_the_gme_token_it_has_launched_the/) explaining elements of Gamestop's crypto token and how there's a need to wait for Ethereum update EIP 1559. I'll look at this in Section 9. + +- **Special thanks to /u/variousred** who proof read this post, offered suggestions and helped make me feel this wasn't all just a load of rubbish. + +*** +*** + +##TOPICS WE'LL BE COVERING + +🔹🔹🔹(**PART 1**)🔹🔹🔹 + +##1. WHAT IS BLACKROCK? + +##2. LARRY FINK + +##3. ALADDIN + +##4. GME INSTITUTIONAL OWNERSHIP + +🔹🔹🔹(**PART 2**)🔹🔹🔹 + +##5. SHARE LENDING + +##6. BLACKROCK'S EXPOSURE + +##7. THE 2020 CRASH + +🔹🔹🔹(**PART 3**)🔹🔹🔹 + +##8. THE GREAT RESET + +##9. CRYPTO MARKETS + +##10. NEGATIVE SENTIMENT + +##11. CONCLUSION +*** +*** + +*If you already know a decent amount about BlackRock and Aladdin then feel free to start at section 4.* + +Otherwise buckle up and let's get on with this! + +*** +*** + +##1. WHAT IS BLACKROCK? +- BlackRock (BR) is a massive international investment company that's been around since 1988. They have $9 trillion in assets under management (according to latest 2021 figures) and they use the money from investors to buy assets, such as shares, exchange-traded funds (ETFs), bonds, real estate etc. + +- They charge fees for their services and their investors are typically very wealthy. They take a strategic approach offering bespoke portfolios based on the needs of individual customers. Just like Fidelity, BlackRock is very customer oriented and while their main goal is to make money for their clients, they do this is a controlled and measured way aiming to maximize returns while minimizing risk. + +- Hedge funds differ from the above approach in that they use high-risk investment strategies in the hopes of getting massive returns. A favourite hedge fund tactic is obviously naked shorting, which is highly profitable when it works (tee-hee). I'm gonna be blunt here and assume if you're investing with Shitadel, you don't really get a choice where your money is used. BlackRock is starting to offer portfolios which contain only eco-friendly companies, but I imagine with Shitadel your money just gets dumped in a big pot to be used for shorting or investing in mayo. + +- BR manages about $1 trillion of pension and retirement funds for millions of Americans, which shows just how many large investors trust BlackRock. Their stock portfolio currently shows over 5k companies with a combined value of $3.4 trillion and they own over 10% of equity in hundreds of large companies (Gamestop included). + +- **Did you know that as of 2021 BlackRock is no longer the largest asset manager in terms of assets under management? The new top dog is:** >![**Fidelity with $10.4 trillion in AUM**](https://i.imgur.com/LbdqeTc.png)!< + +- If you search "BlackRock controversial" you'll get hundreds of horrible sounding points which on face value may make you not want to trust a company like this. I will be addressing a lot of these in this post *but* my goal here isn't to convert you to trust BlackRock or even to like Larry Fink who runs it, only to educate you on some points you may not know. + +**SUMMARY:** BlackRock is a huge investment company managing trillions of dollars of investment. + +*** +*** + +##2. LARRY FINK (the man in charge) +- Mr Larry Fink is a 68 year old gentleman who started working on Wall Street when he was 23. He's built himself up to be one of the most powerful men in the US, but he seemingly prefers to stay out of the spotlight. I bet a lot of you reading this have never even heard his name before (I certainly hadn't until recently). + +- Fink founded BlackRock in 1988 with the help of some others. Vanity Fair wrote a pretty **in depth piece on Fink which you can** [**find here**](https://www.vanityfair.com/news/2010/04/fink-201004), that's definitely worth a read if you get the chance, I will be pulling a lot of bits out of that article but I probably won't do his full background justice + +- Fink studied real-estate finance and later received offers from top investment banks. He chose First Boston and worked trading bonds and later with mortgage-backed securities. Over the next decade he built a name for himself and **helped develop the multi-trillion-dollar debt-securitization market** that transformed the face of finance. Unfortunately this later helped bring the economy to its knees in the 2008 crisis, but inherently it was a good innovation and initially made housing more affordable and made money for his company. + +- Over time he helped make $1 billion for First Boston and many believed that he would eventually go on to run the firm, but **unfortunately in the second quarter of 1986 his department lost $100 million**. Almost overnight, Fink says, he went “from a star to a jerk.” People stopped talking to him in the hallways; he was ostracized. + +- "It was very painful," Fink recalls. "I was not treated as a partner or with the dignity that I expected. Relationships changed and that was difficult for me to handle," he says. "As a result," during the two years before he left First Boston, "I was losing my self-confidence." Leaving was very difficult. "I loved First Boston," he says. Even now, 22 years later, he is visibly upset remembering the time, gripping his chair so tightly his knuckles are white. Fink says he didn’t know what to do next; all that was certain was that he was tired of Wall Street—of the way it treated people, its employees and its clients. + +- He says **he lost money at First Boston because no one really understood the risks involved**. The computer systems were inadequate, and so were the programs that measured the impact of key variables such as changes in interest rates. "We built this giant machine, and it was making a lot of money—until it didn’t," Fink says. "We didn’t know why we were making so much money. We didn’t have the risk tools to understand that risk. It’s what I tell everybody today: you should analyze your portfolio just as much when you are making money, because you could be taking on too much risk". Seared by his fall from grace at First Boston, **Fink vowed never again to be in a position where he did not fully understand the risks he was taking in the market**. + +- Fink went on to form BlackRock in 1988 and operated within Blackstone (not his company), he was given a $5m line of credit and turned this into $20b over the next 5 years. He had a disagreement with a partner over control of the funds and he split off from Blackstone to run BlackRock by himself, his company boomed and went on to become the largest asset management company on the planet. + +- Many CEOs began turning to Fink for advice and during the 2008 crash the then chairman of the New York Fed called Fink personally for help in managing the $30 billion of toxic assets that the Fed took over. During the crash itself all funds across the market were hemorrhaging billions, and **Fink said that the government needed to step in and guarantee them before the credit market collapsed, which the Treasury Department did within hours of Fink’s call**. + +- If I understand that point correctly, **Fink is the one that made the 2008 bailout happen**. Imagine the power involved where someone can suggest to the government that they spend over half a trillion $ to halt a crash, and having that happen within hours. + +- It is hard to understand Fink as a person unless you spend time watching him in interviews and reading tons of background on him, but [**here's some character testimonials**](https://i.imgur.com/4zRlIG7.png) from the above article if you haven't read them already. + +- I want to finish this section by talking about one of BlackRock's biggest financial mistakes, the iconic Manhattan housing complex Stuyvesant Town and Peter Cooper Village. This deal cost $5.4 billion and went into default very quickly. Investors who bought equity in the deal also lost their money, including the $200 billion California Pension and Retirement System (calpers), the nation’s largest pension fund, which effectively lost $500 million. + +> At the mention of these blunders, Fink, who has been sprawled in his chair, suddenly stiffens. His voice takes on a harsh tone that is leavened only by his visible anxiety. **“When you manage money, you are going to make mistakes. You are not going to be 100 percent perfect. Our job is to minimize those problems, to cauterize them,”** Fink says, his voice rising. **“We’re not perfect, and I’ve never said to anyone that we are going to be perfect.** Our investors had all the information we did and they did their own due diligence.” He exhales deeply. “Our real-estate division is struggling because of bad performance, and we’re making changes. I don’t care if the whole industry blew up, our job is to do better than the industry, and we didn’t in real estate,” he says. **“I am not making excuses. I lose sleep over these problems.”** The Stuyvesant Town loss was “an embarrassment,” he says. Then his voice drops to a whisper. **“I mean, my mother gets her pension from calpers.”** + +- Whether you believe Fink's words or not, to me he comes cross as an honest down to Earth person who shows remorse over his mistakes. I highly doubt mayo man Ken would lose sleep over his bad business deals, nor would he feel remorse if one of his deals affects his mother's pension fund. To me these two men come across as stark opposites. + +**SUMMARY**: Fink is good at what he does (making money), he's likeable and honest and seems to show remorse over bad decisions. He was forced out of a company he loved because of a bad trade and he vowed to always know the risks involved in the future. He became the go to guy for many CEOs and even the US government. + +*** +*** + +##3. ALADDIN & RISK MANAGEMENT +- What distinguishes BlackRock from other investment companies is its state-of-the-art system for evaluating and managing risk. Aladdin is a system of 5,000 computers running 24 hours a day, overseen by a team of engineers, mathematicians, analysts, and programmers. This computer farm can monitor millions of daily trades and scrutinize every single security in its clients' investment portfolios to see how they would be affected by even the most minor changes in the economy. Apparently as of 2020, Aladdin managed $21.6 trillion in assets. + +- In 2000, BlackRock launched BlackRock Solutions, the analytics and risk management division of BlackRock. The division grew from the Aladdin System (which is the enterprise investment system), Green Package (which is the Risk Reporting Service) PAG (portfolio analytics) and AnSer (which is the interactive analytics). Through BlackRock Solutions, customers pay for advice on the markets and can test their portfolios in the risk systems. This division now has about 140 clients, the best known of which happens to be the U.S. government. **Yeah, the freaking US government pays BlackRock for market advice.** + +- Aladdin can simulate every imaginable shift in interest rates, every conceivable change in the financial markets, and stress-test the performance of hundreds of thousands of securities in numerous global-crisis scenarios. Here's a thought, you know those liquidity tests being done on Shitadel & Co? I'd wager that Aladdin might be the system being used for those. + +- [**This article**](https://www.businessinsider.com/what-to-know-about-blackrock-larry-fink-biden-cabinet-facts-2020-12?r=US&IR=T) says "Vanguard and State Street Global Advisors, the largest fund managers after BlackRock, are users of Aladdin, as are half the top 10 insurers by assets, as well as Japan's $1.5tn government pension fund, the world's largest. Apple, Microsoft, and Google's parent firm, Alphabet — the three biggest US public companies — all rely on the system to steward hundreds of billions of dollars in their corporate treasury investment portfolios." + +- The overall point I'm making here is that Larry Fink seems true to his word in that he takes risk seriously. BlackRock seems to be the exact opposite of a hedge fund like Shitadel which seems happy over-leveraging themselves on positions with potentially unlimited loss, I can't see Larry Fink doing that any time soon. + +**SUMMARY:** Fink has clearly become one of the most powerful people in finance, he's created an incredible risk assessment system and has US officials coming to him personally for advice. BlackRock's Aladdin system may be the one the government is using to do the liquidity tests on Shitadel & Co, either way BlackRock and Fink are likely highly aware of what's happening with Gamestop, so let's go on to explore GME's ownership over the years including BlackRock's involvement in this. + +*** + +*** + +## 4. GAMESTOP INSTITUTIONAL OWNERSHIP + +- First point I want to make here is about BlackRock’s overall portfolio value. They’ve been the largest asset management company for a while but according to their 13F filings their securities portfolio only seemed to really boom at the start of 2017 [**as seen here**]( https://i.imgur.com/BoDFvIs.png). For this reason I’m mainly only going to be looking at Q1 2017 and onwards. + +- [**Here's a graph of GME institutional ownership going back to 2017**](https://i.imgur.com/f8y4R3z.png). Yeah that’s a lot to take in and it might not be very clear if you’re on a phone (apologies). A caveat here is that there could be smaller companies with GME that I can't trace (without trial and error through thousands of 13f reports), but I hopefully caught most of the big ones. **Here's some observations I can see straight away**: + +- **1.** BlackRock and Fidelity held the largest GME positions for the majority of the last 4 years. + +- **2.** UBS never really has a large GME position despite being the 3rd biggest asset manager in 2020, so I will rule them out of any further analysis. + +- **3.** BlackRock, Vanguard and Fidelity all pretty much stay level or increase their GME positions until mid 2019 and then start to sell. I wonder why that was? + +- **4.** Fidelity & Dimensional both have large GME positions for 4 years then they decide to sell ALL of their shares in Q1 2021, that seems odd. + +- Now to make it clearer let's sum institutional ownership together, compare this to share price and include the total outstanding shares, [**all of that all looks like this**](https://i.imgur.com/lKfwMQH.png). Ok, that's easier to follow and straight away I'm seeing a reason why institutions began selling GME in 2019, **Gamestop underwent a massive stock buyback** where they reduced their total shares from over 100 million to around 65 million, here's how it went: + +Date | Total Shares Outstanding +:-- | :-- +Jun-19 | 102.27 million +Sep-19 | 90.46 million +Dec-19 | 65.92 million + +- I’ll talk about this stock buyback further a few paragraphs down, but let’s finish analyzing the graph first. The other thing that stands out to me is the **inverse proportional relationship between institutional ownership and price**, [**here's some comments to show you what I mean**](https://i.imgur.com/AQSad8R.png). **Why would price drop as institutions buy more shares?** Increased demand should push the price up, not vice versa. Maybe it was the public selling off and lowering the price, but then why would institutions buy more? They seem to be investing in an failing stock, so what are they getting out of it? **The only conclusion I can come to here is that GME was being shorted as far back as 2017**; it seems institutions were buying stock and immediately lending this out, Shitadel borrowed this and shorted it dropping the price. Further evidence of Gamestop being shorted is seen when institutions start selling from mid 2019 to the end of 2020 which seems to make the price shoot up, this is likely because their lent shares had been used in shorting and when they recalled those shares to sell it forced closing of short positions pushing the price up. + +- Institutions can make a lot of money lending shares, [**as this chart about BlackRock shows**]( https://i.imgur.com/5hiFyUW.jpg). Back in 2018, Elon Musk called BlackRock out for their share lending program claiming that they were helping short sellers. Apparently our very own Mr [**Dave Lauer defended BlackRock's actions here**](https://i.imgur.com/6yL8fuU.jpg). Dave is correct here (as he usually is), lending shares is not in itself an issue, it creates additional revenue stream for the lender and there's no guarantee shorts will succeed if they do use the borrowed shares for shorting. It's like trying to blame the cashier who sold a knife at Walmart if that gets used in a crime. I know that there's a lot of contention about share lending on Superstonk, but I honestly believe that the MOASS wouldn't be a possibility if share lending hadn't happened. + +- Now let’s examine the [**stock buyback**](https://i.imgur.com/hAAUbHX.png) in 2019. [**This article**]( https://www.businesswire.com/news/home/20190819005633/en/Scion-Asset-Management-Urges-GameStop-to-Buy-Back-238-Million-of-Stock-with-Cash-on-Hand) talks about **Dr Michael Burry’s letter** that he sent to Gamestop’s Board of Directors in 2019, in that letter **he urges Gamestop to buyback 80% of their outstanding shares**, he points out that GME shares were at a record low price yet volume for GME was rising. He goes on to mention that 60% of the shares are shorted and that Gamestop’s cash levels are much higher than the current market cap from the stock, so it all points to poor capital allocation by Gamestop’s management. He says that them doing a stock buyback would be a bullish move and could help start turning Gamestop around, I believe DFV draws on these points in his original Gamestop thesis. I don’t know if this is worth mentioning, but Dr Burry starts his letter by saying he owns 2.75 million GME shares, [**but he had only held these for 2 months**](https://i.imgur.com/bmzMo9L.png) at most when he wrote that letter, so he doesn’t seem to be a deep value investor here, to me it suggests he saw this as an opportunity for a squeeze and wanted to take advantage of that. + +- Let’s take a quick look at **what stock buybacks are** (feel free to skip this paragraph if you already know). [**Investopedia**]( https://www.investopedia.com/ask/answers/042015/why-would-company-buyback-its-own-shares.asp) covers it well, firstly a stock buyback is not the same as a stock reverse split even though both reduce the number of shares available to investors, this is because **with a buyback the issuing company is actually using company money to buy the shares to reduce numbers and this pushes the share price up**, whereas in a reverse split the amount of shares is reduced without any shares being bought so that technically keeps the value the same. With a stock buyback **the issuing company can purchase the stock on the open market or from its shareholders directly**. In recent decades, share buybacks have overtaken dividends as a preferred way to return cash to shareholders and though smaller companies may choose to exercise buybacks, blue-chip companies are much more likely to do so because of the cost involved. This will be why Dr Burry recommended this method, Gamestop had the cash on hand to do this and it would have gone on to push the share price up (allegedly), and because companies will announce stock buybacks before they happen this has a knock-on effect where investors will FOMO into the stock thinking that it will go up in value pushing the price up further. **This means that one of the greatest advantages of a stock buyback is that it hurts short sellers**, simply because overall supply of the stock is reduced so that will push the price up meaning short positions lose money (on paper). **Overall stock buybacks are a bullish move**. + +- Gamestop went through with the stock buyback (whether at Dr Burry’s suggestion or not) and reduced their total shares from around 102 million to 65 million. [**This pushed the share price up (although only slightly)**](https://i.imgur.com/ID4eSC2.png) and it seems [**institutional ownership dropped by 5 million shares to help complete the buyback**]( https://i.imgur.com/obqQf88.jpg), that suggests Gamestop bought the majority of the 36 million shares on the open market and got some help from institutional investors. Let's take a closer look at [**which companies sold GME during this time**](https://i.imgur.com/CceC0r3.png), so quite a few including Dr Burry's company Scion, but BlackRock and Fidelity sold the most by far with 5 million and 6 million shares respectively. But [**why would BlackRock & Fidelity sell at this time after holding through a price crash for years?**](https://i.imgur.com/Lpnt1Mj.png) Both of these companies had held millions of shares when the price was around $25, so **to now sell around $5 means they would make an 80% loss. Were they just helping Gamestop out here?** I tried to research if companies are obligated to sell during a buyback like this, but nothing I found suggests that's the case. It seems if Gamestop was unable to get the full 36 million shares they wanted then they simply would have had to buyback less stock. + +- Little side note here, an investment company called Hestia-Permit group jumped on board buying a bit over 3 million shares during this time (which doesn't seem helpful when a company is trying to buy back stock). [**Hestia had made some sort of deal with Gamestop**](https://news.gamestop.com/news-releases/news-release-details/gamestop-announces-agreement-hestia-capital-and-permit) allowing Hestia to vote in some specific board members. In my opinion Hestia likely wanted to push the idea of the stock buyback and thought they'd have more sway with board members to get this passed, if this is true then Hestia likely just wanted to make a bit of quick profit like Dr Burry seems to have wanted too. + +- Let’s move forward in time a bit, the next big player to join the scene was Ryan Cohen where he started buying shares in Q3 2020, he initially buys just over 6.5 million shares at first and then increases that to 9m by the end of Q4 2020 (last Christmas). I want to look at how Ryan Cohen (RC) joined the scene, Gamestop had completed their stock buyback and had reduced the free float by 36 million shares, which isn’t good when someone wants to swoop in and buy a ton of GME. This makes it seem that some institutions had to sell their shares to RC so he could come on board. [**This graph shows which companies likely sold shares to RC**](https://i.imgur.com/y0qSTkF.png). So Hestia and Scion sold big chunks of GME (around 6 million) but these two had only held their shares since Q3 2019, so about a year at this point. During that time [**GME share price remained mostly flat (in the long run)**](https://i.imgur.com/05ym6UB.jpg), to me this adds credence to the idea that these two companies did get on board to take advantage of the stock buyback, it obviously didn’t pay off as they thought so they sold in bulk. There are theories floating around that Dr Burry would not have wanted to have held GME during the Jan squeeze, because he could be liable for another lawsuit just like after 2008 and like what happened to DFV. Whatever the reason Dr Burry & Hestia sold, they had held for a year and pretty much broke even. But **BlackRock sold 2 million shares seemingly at an 80% loss again, they were definitely under no obligation to sell shares to RC, so were they doing a favor for RC?** If so then it seems BlackRock first helped Gamestop with their stock buyback and then they helped RC get his GME shares, both time at great cost to themselves. Was this a part of some greater plan? + +- Q3 2020 ends and RC has 6.5 million shares, but we all know he ends up with 9 million, so where do the other 2.5 million come from? The eagle eyed among you may have spotted [**this before**](https://i.imgur.com/yfdC4AL.png), yeah Gamestop releases more shares at exactly the time RC wants to buy more. [**Let's take a closer look at that**](https://i.imgur.com/jnix50b.png). **Gamestop made 5 million more shares become available and RC increases his position by 2.5 million from this**. Was that really just a coincidence? Gamestop just happened to release more stock at exactly the time Ryan Cohen wanted to buy more? [**Here's Gamestop's SEC filing for this share release**](https://news.gamestop.com/node/18351/html), so from reading that we can see that Gamestop sold these shares on the open market and that they were planning to use the money *"for working capital and general corporate purposes, which may include funding our ongoing digital-first omni-channel growth strategy and product category expansion efforts."* This really seems to me that Gamestop helped RC out here. + +- Last Christmas ~~I gave you my heart~~ [**top GME ownership looked like this**](https://i.imgur.com/A7Quxq1.png), with BlackRock, Fidelity and Ryan Cohen all holding 9 million GME shares with only a 275k range between them all. **What Fidelity and Dimensional Fund Advisors did next blew my mind at first**. Going from Dec-20 to Mar-21 these 2 companies sell practically *ALL* of their GME shares after holding these for years through the price crash, [**seriously look at this**](https://i.imgur.com/4AgPF1y.png) and then [**this is how long they had each held for**](https://i.imgur.com/HN5Byn5.png). I don't think it takes too much guesswork to see why they sold at this time, price was at the highest point it had been in years (likely from RC's buying pressure plus there would have been a lot of share recalls around this time pushing the price up). But **here's another reason why these 2 companies might have wanted to sell around this time**, check out **/u/Bladeace** 's post called [**The NYSE threshold list: collapsing shorts and launching the MOASS**](https://reddit.com/r/Superstonk/comments/oao9oo/the_nyse_threshold_list_collapsing_shorts_and/), that's an amazingly well written post talking about the 'threshold securities' list, here's a snippet: + +> The New York Stock Exchange provides a list of ‘threshold securities’, which are securities that are regarded as difficult to borrow due to a large number of recent failures to deliver. When a security is on this list, there are limits on a market maker's ability to short sell the security in question and obligations regarding delivery requirements. + +- **/u/Blaceace** includes [**this chart**](https://preview.redd.it/yfmbrye3lb871.png?width=685&format=png&auto=webp&s=c28e1c25971667b38fc8717aba790de881771e86) which shows just how bad the Gamestop FTD issue was around this time. So the GME lending market is getting choppy and it seems **Fidelity and Dimensional have had enough at this point and decide to sell their shares. That means they first have to recall them** from Shitadel & Co but remember Fidelity and Dimensional have likely had their shares lent out for the past 4 years. **Question: do you think the borrower (Shitadel & Co) only sold on 1 share per every share borrowed, or do you think they sold many shares in some form of rehypothecation abuse?** My opinion is definitely the latter. + +- The only evidence I have for this next point is circumstantial but **I’m really starting to believe that Fidelity (with the help of Dimensional) caused the Jan squeeze**. I'm well aware that that's a bold claim, I mean these 2 companies only held 13 million GME between them in December 2020 and the squeeze saw days of up to around 200 million volume, so that doesn’t add up. [**Here’s GME volume around the time of the squeeze**](https://i.imgur.com/qecs1MB.jpg) so yeah some crazy volume days. If you sum up GME volume by month it looks like this: + +Month | GME Volume +:-- | :-- +Sep-20 | 254m +Oct-20 | 360m +Nov-20 | 161m +Dec-20 | 251m +Jan-21 | 1262m + +- Looking at the average volumes per month, **Jan 2021 probably saw around 1 billion more volume than usual**, for a stock with 70 million shares that's a ridiculous increase. To me **this was likely tied to Fidelity and Dimensional recalling their 13 million GME shares**. Is it insane to think that over 4 years, the shorts re-lent Fidelity's & Dimensional's GME shares (1 billion / 13 million) = 77 times over? All that would have to look like is this: Melvin borrows 13 million GME shares, then says "Hey Susquehanna, I have 13 million GME shares on my books, want to borrow these off me?", Susquehanna borrows them, then says "Hey Ken bro, we have 13 million GME shares on our books, want to borrow these?" rinse and repeat 77 times, then those companies can all sell the shares on their books to crash the price. Plausible? If so it's easy to see how Fidelity & Dimensional were holding up a tower of GME 1 billion shares high and them recalling the original shares meant it all came crashing down like a house of cards. + +- Apparently Fidelity didn't just sell off their GME at this time, they did the exact same thing with 21 other stocks which all squeezed in January. I've unfortunately run out space on this post so I'll cover that properly in the next section. + +**SUMMARY:** I looked at GME ownership going back to 2017, it's pretty clear Gamestop has been shorted since at least that far back as the price was dropping despite institutional ownership increasing. BlackRock had held millions of GME since 2017 when the price was around $25 and later sold millions of shares to Gamestop and Ryan Cohen when the price was around $5, so this came at great cost to them, was BlackRock just helping Gamestop and RC out here? Fidelity and Dimensional Fund Advisors sold all their GME in Q1 2021 and I believe this caused the Jan squeeze. I finished by saying Gamestop wasn't the only stock Fidelity dropped at this time that underwent a squeeze, we'll explore that idea in the next section. + +##[Continued in Part 2](https://reddit.com/r/Superstonk/comments/ommfz1/blackrock_the_great_reset_part_2/?) +Guten Morgen to this global band of Apes! 👋🦍 + +Last week's energy seems to have propelled us through the weekend and is continuing strong into a new week. Apes continue to DRS at a stead pace, drawing their shares out of the DTC vaults and reducing the ammo that institutional shorts are able to short with. Friday was a big options date for GME, with an extraordinary number of Puts expiring worthless, but so far it seems that we haven't determined where those have been can-kicked yet. Is this something that we'll uncover this week? + +Today is Monday, October 18th, and you know what that means! Join other apes around the world to watch infrequent updates from the German markets! + +###🚀 Buckle Up! 🚀 +*** + + +- 🟥 120 minutes in: **$181.43 / 156,38 €** *(volume: 1171)* +- ⬜ 115 minutes in: $181.53 / 156,46 € *(volume: 1140)* +- ⬜ 110 minutes in: $181.53 / 156,46 € *(volume: 1140)* +- ⬜ 105 minutes in: $181.53 / 156,46 € *(volume: 1077)* +- ⬜ 100 minutes in: $181.53 / 156,46 € *(volume: 1042)* +- 🟩 95 minutes in: $181.53 / 156,46 € *(volume: 1042)* +- 🟩 90 minutes in: $181.51 / 156,45 € *(volume: 1033)* +- ⬜ 85 minutes in: $181.27 / 156,24 € *(volume: 1017)* +- 🟥 80 minutes in: $181.27 / 156,24 € *(volume: 971)* +- ⬜ 75 minutes in: $181.32 / 156,29 € *(volume: 942)* +- 🟥 70 minutes in: $181.32 / 156,29 € *(volume: 936)* +- 🟥 65 minutes in: $182.30 / 157,12 € *(volume: 692)* +- 🟩 60 minutes in: $182.31 / 157,14 € *(volume: 692)* +- 🟩 55 minutes in: $182.24 / 157,07 € *(volume: 677)* +- 🟥 50 minutes in: $182.18 / 157,02 € *(volume: 674)* +- 🟥 45 minutes in: $182.33 / 157,15 € *(volume: 663)* +- 🟥 40 minutes in: $182.34 / 157,16 € *(volume: 646)* +- 🟥 35 minutes in: $182.80 / 157,56 € *(volume: 317)* +- 🟥 30 minutes in: $182.83 / 157,59 € *(volume: 283)* +- 🟩 25 minutes in: $183.05 / 157,78 € *(volume: 167)* +- 🟥 20 minutes in: $182.86 / 157,61 € *(volume: 165)* +- 🟥 15 minutes in: $182.93 / 157,68 € *(volume: 154)* +- 🟥 10 minutes in: $183.05 / 157,78 € *(volume: 145)* +- 🟥 5 minutes in: $183.11 / 157,82 € *(volume: 144)* +- 🟩 0 minutes in: $183.28 / 157,97 € *(volume: 127)* +- 🟥 US close price: $183.28 / 157,97 € *($183.33 / 158,02 € after-hours)* + + +*** +FAQ: I'm capturing current price and volume data from German exchanges and converting to USD. Today's euro -> USD conversion ratio is 1.1602. I programmed a tool that assists me in fetching this data and updating the post. If you'd like to check current prices directly, you can check [Lang & Schwarz](https://www.ls-tc.de/de/aktie/gamestop-aktie) or [TradeGate](https://www.tradegate.de/orderbuch.php?isin=US36467W1099) + +Diamantenhände isn't simply a thread on Superstonk, it's a community that gathers daily to represent the many corners of this world who love this stock. Many thanks to the originator of the series, DerGurkenraspler, who we wish well. We all love seeing the energy that people represent their varied homelands. Show your flags, share some culture, and unite around GME! +I watched this sub grow out of the original betting sub and I've been in this since the sneeze. + +I've seen "meme stocks" and coins of all kinds get shilled and I've watched people YOLO crazy amounts into those and post gains and losses. + +The thing that all those stocks had in common were that they quickly faded away and people lost interest. That's because one day on the internet is equivalent to one year in real life. That's why you see stories get talked about fervently for a short time and then....nothing. + +But we're still here. We're not just still here actually, we've gotten MORE obsessed with the stock! + +DRS is strong and morale is high even after all this time, even after they drove the price down to gutter levels, even after they've kept it relatively flat for months and months. + +I'm too smoothbrained for math but in internet time we've been here for like...a gorillion years! + +And none of us are leaving. + +DRS every single share. + +BUY, HODL, DRS, + +(not financial advice I am an individual investor) +Costco just raised their wages for their workers and is planning on raising their membership costs. It’s in a dip right now perfect for buying. They’re making a lot of money through the pandemic thanks to them being cheap and bulk when people don’t want to go out a lot. Surprised this isn’t being posted about more. +So my father got a call a couple days ago from someone claiming to work for PayPal's fraud department (he has a Paypal card/account) and it all seemed very official/professional. They said there's been a bunch of fraudulent looking charges on his card and went through a number of charges that my dad didn't make (the typical scammy charges like target.com, itunes, walmart, etc..). Sure enough my dad looks on his paypal app and sees all the charges, and he obviously confirms that he didn't make the charges and to lock/replace the card as the person suggested. + +This is where it get's pretty next level. As they're talking, the 'representative' claims that the 'scammers' just attempted to log into his account and change his password, and he asks if my dad to confirm he got a text from Paypal with a PIN. Sure enough my dad gets a text (ACTUALLY from PayPal, the standard two-step verification text they send if you try to change your password or whatever). The person *didn't* ask for the PIN though (that would be an obvious red flag). They said they locked his account and it's all under control. + +So at this point it seems 100% legit that it's Paypal (they 'knew' about the charges and that my dad would get a text before he even got it, yet didnt ask for the PIN). They tell my dad that the card has been locked and he'll get a new one within 7 business days or whatever, and not to worry about anything, it's all good. The scammer was incredibly professional/well thought out too. He properly advised my dad to remove the 'de-activated' card from any automatic billing cycles, said to be careful about avoiding scams (wow), etc... + +So luckily my dad logged into paypal today to confirm the cards were frozen, which is when he noticed not only were they *not* frozen, there was a dozen more charges on his card since the call he got and they maxed out his credit. + +So here's what happened: The scammers stole the card info, made a couple charges, then pretended to be Paypal and *called my dad to tell him about the charges*, tried to login to his account so he would get a verification text, made it seem like they were on top of the situation and had it all under control, and then continued to make the fraudulent charges hoping he wouldn't notice or think it's fine because 'PayPal' already knows about it. Some hiding in plain sight, reverse psychology stuff. + +Just want to make as many people as possible aware of this. I like to think I'm pretty damn savvy with scams and I think I would have even been caught off guard by this. *Always* go online and check the status of your cards/banks, purchase history, etc.. for yourself, regularly and *never* trust only a phone call. +This post may or may not be r/fatFire, but it is trying to be part of the solution. + +I'm fatFIRE-d and my main "job" is managing my portfolio (which is fun and I like doing it myself). I have a bunch of investment-related questions that on their own are not great candidates for posts here on r/fatFIRE. + +Here are some sample questions I have: + +* What, if any, stock research services do you find valuable? + +* Does tracking experts on TipRanks have positive alpha? + +* Do fantasy stock markets like Motley Fool CAPS have any predictive power? + +* I'm interested in investing in land, who has made that work? + +* How easy is it to barter gold for other goods/services in practice? + +The best places I have found so far are: + +* bogleheads forums + +* SeekingAlpha + +* nuclearphynance + +* WSB (seriously, some of those guys know a lot) + +* Quantopian (sort of the opposite of WSB when you think about it) + +Are there other high signal to noise communities that people here would recommend? +Suppose you're semi-fi and looking for a lower impact job to help sustain you. What are some tips/tricks to get such a job? Things like: + +* Do you really really tone back your resume to hide how over-qualified you are? +* Are you honest with prospective employers about why you're looking to "downgrade"? Or what reasoning do you give? + + +For context, I am an unemployed software developer who is 'grey-area-fi'. (To me, calculating exactly when I can personally become financially independent has been difficult. But I am probably fi.. probably.. The current market doesn't help though.) + +I've been unemployed for about 7 months, and it hasn't really been going that well to be honest. It seems like I may need some structure in my life to stay active. Thus, I am looking to go back to work but probably to something low-key, so to speak. + +BTW, I'm hoping to hear from people who've actually done this or are in the process rather than just those who are speculating. +I just unfortunately turned 60 :-(. My home is paid for. I have like $250k in high quality stocks and bonds. Yes they kickoff dividends but not all that much. Maybe $1,500 /year. Should a not at all handy person start looking at residential rental property in order to #1 create a cash flow superior to my dividends and #2 build a legacy for my beloved children? I live in Western MD. +I have just started becoming interested in investing into real estate and have been looking at different markets that support the 1% rule for single family homes. What I have noticed is the homes that meet this rule are in areas that seem to have more risk with finding good tenants and the 30 year outlook is questionable. For example a $60000 home is renting for $900 in Memphis. Vs a $1,000,000 home in SF, an area with tons of jobs, rents for $5,000. + +So my questions are: +what does the 1% rule really mean about the area where this rent to value ratio is possible? + +Why does it exist that the mortgage is significantly less than the rent? + +What does this mean about the potential growth in the area and the future value of the home? + +I understand I am looking for cash flow, but what if in 30 years people don’t even want to live in that area so the property and home value is now $0. + +Thanks in advanced! +Long post but I want to be as thorough as possible. I've been getting into personal finance for about 6 months now and trying to figure out a good plan of action for my money. + +I make $61.5k gross per year and bring home $3800 a month after taxes. In addition, I also get quarterly bonuses which vary per quarter but the last two years have been consistent at $4k+ a year after taxes. I do not include this amount in my budgeting. The $3800 mentioned above is fixed income. I'll have $4k in my savings this month after expenses come out. + +&#x200B; + +|Category|Expense|Balance| +|:-|:-|:-| +|Rent + Garage|$1010|| +|Internet|$100|| +|Electric|$200|| +|Subscriptions|$125 (Netflix, Hulu, YouTube TV) etc.|| +|Car Loan|$115|$11k| +|Gas/Fuel|$180|| +|Student Loans|$450 (Combined Minimums)|$44k total| +|Food|$450|| +|Medical/Health|$100|| +|Monthly Cushion (Haircuts, fun money, etc.)|$200|| +|Total|$2,930|| + +Some additional information. + +The student loans are through discover and are split into 3 separate loans + +* $22,000 at 6.2% +* $17,000 at 6.2% +* $5,000 at 5.2% + +The car loan is on a 2008 at 2.7% for 5 years. Planning to pay off in 3. That $115 is the minimum. I've been paying an additional $135 at the end of each month since I got the car in August of 2021. + +I have another vehicle that I owe nothing on that's worth about $3.5k. It's what the new car replaced. Just haven't gotten around to selling it yet. + +This is probably the most important. I have an apartment lined up for April in which I will be splitting expenses. The total of rent and all utilities will come to no more than $800. I'm spending $1300 currently. I work from home right now but I make a 1 hour trip sometimes twice a week which is why my gas bill is so high. I will no longer be traveling once I move which will likely cut that expense by at least half. Other expenses like the subscriptions will probably get split as well. I will no longer be paying for a garage after I move. + +Some of this stuff like the Monthly Cushion/Medical/Electric are overestimated or often not spent so I've frequently been coming under budget each month. + +My personal goal right now is to increase my income. Within the next 6 months I plan on getting a new job that pays much better. + +I really want to maximize my income and make it as efficient as possible to pay down my debt and build wealth. I'm 27 and aiming for having all my debt gone by 30 if not sooner. +I’m a sophomore in hs and I make $10/hr at my job (11/hr because of hazard pay right now), and I work around 8 hours a week. I’ll be working for 3 years and I’ll probably increase the number of hours, but if I go at this rate I’d make $9,280 if I only worked 8 hours a week up until I move out. I haven’t spent any of what I’ve made so far because I make tips (so I just use that if I need anything because I live with my parents and don’t pay for gas). + + + I don’t really know how much college costs and I’m not good at gaging what a lot of money vs. not that much is, so how much money would you suggest I for sure AT LEAST have going into college? Or, how much did you WISH you had going into college that would’ve been helpful? + +Im going to save up as much as I can, and I want to make sure I don’t spend like all of it and realize “crap. This amount isn’t nearly as much as I envisioned it would be” + +Thanks in advance, I’m not good with this stuff and tuition and student loans stress me out. + +Edit: I’m planning on doing 4 years at the University of Minnesota, whose tuition is $6,700 per semester + +Edit pt 2: I’m planning on studying Chemical Engineering + +Edit 3: thank you guys so much for all the advice!!! It’s really putting a lot of things into perspective! +My parents sold one of their investment properties and after paying some bills, expenses, and a new car they needed and deserved, they’re left with $120k. + +It’s not life changing money but it’s more than they ever had in the bank. My dad has never been good with money, but buying this property was the smartest thing he did. + +Now he just wants to make sure there’s enough to last him and my mom through to the rest of their lives and hopefully have something left for us (my sister and I). My dad is 78 and my mom is in her late 60s. + +Currently they get about $1500 a month through SSI, no mortgage obligation, let’s say $200-$400 in bills and insurance max, no car note. + +Is there anything you all recommend in this scenario? an index fund or specific investing strategy? Preferably something low risk, maybe dividends? Do I invest in blue chips? + +If we find the right one, do we put 75% in there and simply draw enough for a few months needs, let it sit until we repeat? Or only put in half? + +I personally made a lot in the stock market this past year and my dad wants me to manage their money. It’s a lot of responsibility to take but I’m willing to do it. I do however understand we’re in a bull run and the past few weeks have been incredible buying opportunities for me personally, but not sure if I’d like to invest my parents money at a time like now. + +Again, the goal is to grow their money responsibly during their lifetime, while still being easily accessible, and hopes their would be enough for my sister and I. + +Any guidance or suggestions is welcomed. Thank you. +What are the things you've always wanted to know about but have been too afraid of asking? What do you need to retire? Is your financial advisor working on your behalf or just raking in fees? What does it all mean? + +Remember - this is a safe place. Upvote those that contribute, and only downvote if a comment is off-topic or doesn't contribute to the discussion, **not** just because you disagree. +My girlfriend and I are in a tough financial situation. I have about $4,000 in credit card debt and my girlfriend had about $1,500. She also needs a car to get to and from work. Right now, she’s using mine to get where she needs to go. + +We have a joint account with about $1,300 in it and we both put in about $400 each. I put in more since I make a little more. I’ve been trying to put at least $200 every pay day (twice a week) but after that I don’t have much disposable income. + +On top of this, we’re trying to pay back our respective parents after we fell on harder times earlier this year when my girlfriend lost her job. So it’s been tough to find some comfort and/or breathing room. + +Can anyone help? +25/YO took a job that pays $70k a year. I’ve never been financially smart but it’s time for me to start planning for the future. Total of about $16k debt. $12k for car $1.7k for loan $1.7k on credit card. From my research the best three things to start with would be +1. Emergency fund +2. Retirement savings +3. Paying off debt. +But in what order makes the most financial sense? +My expenses are around $1500/mo but I have the option to rent out a second bedroom in my apartment bring down my rent from $550 - $275. +He said if the property doesn’t sell for more than what he is willing to pay for, he will get a dual citizenship and live in the country. We are currently Australian permanent residents. My parents came here to give us a better future and the fact that he said was going to come back to the country didn’t sit right with them, so he got kicked out of our home. + +This is the Mandani Bay development in Cebu City, Philippines that he bought a 30sqm studio unit in: https://www.mandanibay.com + +They seem legitimate so I don’t think it’s a scam. However, I still have my doubts as there will be more than 10 residential buildings in the near future; this means demand won’t be as high as he thinks. + +I don’t think there is any other way to convince him that this is a bad idea. He said he’s willing to take the risks. + +🤷‍♂️ +It seems like the type of person who would buy a Tesla would be 1) rather well off, 2) environmentally conscious and 3) live in an urban area. These three criteria would indicate that Tesla buyers are often left leaning politically. If you have not noticed, Elon has recently become persona non grata for the left due in large part to accusations of difficult working conditions, lackluster employee compensation and revelations of Elon’s contributions to right wing entities. + +Could this be a problem for Tesla's sales going forward? +So I would like to open 2, $500 savings accounts for my kids where I can contribute +/- $100 biweekly. 5 year plan would be perfect cause they will be around the age to drive and have a nice nest for a down-payment for a car. My questions is, should I get a cd, money market account, or something else? Looking for the best way for the money to grow. Thanks in advance! +I am an early 40's NJ state employee for the past 20.5 years. At the 25 year mark I am eligible for state retiree health benefits. Basically it boils down to paying 35% of the cost of the current insurance premiums. +http://www.state.nj.us/treasury/pensions/hb-retired.shtml + +I have been FI for the past 2 years and I do actually like my job but definitely want to RE. I know healthcare is a major pain point for a lot of early retirees. Knowing this, should I just rough it out? + +EDIT: Married with 2 kids. No significant medical conditions right now. + +EDIT: Wife intends to work, so RE income is expected to be fairly high. +We filed our 2020 tax report in February last year with a tax preparer. All of our bank account and routing info was correct and we signed off on it. 3 weeks later I found out our tax refund was deposited into an account that was NOT ours. Apparently our tax preparer “accidentally” changed our bank account and routing numbers after we signed off on everything. Not just one number. She changed ALL of them. The tax report we received still shows the correct information. + +Over the past year I have spent hours on the phone with the IRS, the bank the money was sent to, and our tax preparer. None have been helpful. The IRS says to take it up with the bank. The bank says they won’t do anything because I’m not the account holder. And our tax preparer has been zero help. What do I do at this point?? This was a huge refund. + +I’ve already done 2 refund traces, we got one letter in the mail from the IRS in July 2021 saying they were investigating it. Nothing else since then. I filed form 3911 recently as well. Do I sue the tax preparer? Do I report them for misconduct? This was entirely her fault. +I'll try to summarize, property is 3 bedroom 2 bath house: + +* We've had record rain this year, and it's the first year I've owned the house. Unattached garage gets wet floor when rain overtakes drainage. +* Tenant reports urgent fix needed for water in basement from leaking toilet. Too busy for inspection for four days. +* At inspection find that toilet tank is cracked because tenant's "son sat on it," causing the leak. Tenant complains sheetrock, baseplate, composite wood flooring, etc need to be replaced because "there might be mold" +* Instruct tenant to run dehumidifier to prevent mold. Give the go-ahead to replace sheetrock and seal in mold if found, I'll pay for time & materials. +* Two weeks later meet with guy to install drain in driveway to prevent garage floor from getting wet. Tenant "wants to show me" moist floors in basement. Dehumidifier hasn't been run since I left "because it leaks." Tenant wants to tear up floor because "there might be mold." + +I don't have solid grounds to evict this tenant, but I could pretty easily make a case. I'm just trying to figure out where the sense of urgency *should* be with water and mold. I understand that there's a potential for mold, and that potential increases if they're not taking steps to mitigate that problem--but should I be dropping everything to tear up floors because of some water? + +It's hard to judge where the tenant is legitimately upset, and where the tenant is putting on a show. For example they asked about seeking reimbursement for valuable tools that got wet in the garage when it rained, my response was that I wouldn't leave tools on the ground by the door if I knew it gets wet when it rains, two days later I drove by in a rainstorm and the door was open, with valuable tools in plain sight. +I bought a condo in the NY metro area as a primary residence <3 years ago for $1mm at 50% LTV, and I’m selling it now for over $2mm. We’ve outgrown the space, and the prices in my building now exceed some Manhattan prices - I’m selling for $1120 per square foot. Proceeds after closing costs and capital gains are circa $1.4mm, which I am aware is phenomenal. + +I’m buying a $2mm house, and the rates I’m being offered are the lowest I can imagine getting on a house I believe I’ll live in for a solid 20 years - 2.875% for a 30 year fixed mortgage, with the option to go below 2% if I prepay points. The payment on a 60% LTV loan is super affordable (only slightly over what I pay now for half the amount at 4.25%), and I could cash out $400k and be confident of earning 8% on it. + +I’d like to properly understand the right perspectives on either side of the argument. Should I buy the house with high equity and lock in a low monthly burn, or buy with cheap debt and a moderate monthly burn but cash out $400k to invest? + +Side note: 28, I have not been investing long, have about $200k invested and my income is reasonably good but not super high, although I do expect that to improve this year. +I’m 23 years old and I make around $120k a year with about $2k in monthly bills (mortgage, internet, electric, car, etc). Currently I have $90k in my 401k where I put 15% in every paycheck and my company matches another 6%. I just Ed started a Roth IRA that I was going to max out every year as well. I was thinking to do relatively safer dividend stocks in the IRA that are around like 2-4% yield. I also have a brokerage account that I was going to do some riskier yields (like 6-8% that vary depending on how the company is doing). I’ve been at my job for 3 years now, and for those first 3 years I was very bad with my money. But I finally realized my mistakes and believe it’s not too late for me to start all of this. So I was just wondering from others if you all of this sounds like a good idea or not? +So my parents sold some property and after taxes and fees, they will have approximately $100-$110,000. They live on a fixed income Social Security and have Medicare insurance and don't have a lot of expenses. No mortgage, no rent, no car payment. Outside of food, insurance and medicines, they don't spend more than $25K annually, maybe less. They have $40-$50K in cash in savings. They would like to have some income off of the money, but not take a great risk. 4-5 years ago a simple CD would suffice, but now those are of little use to them. So I'm thinking there may be some dividend ETF plays that might work for them. As I said in the title, they are 80, but healthy. + +Has anyone set up anything similar to this for their parents/family? I'm thinking a split of 2-4 ETF's with a distribution rate of 3% + would work. Some I've looked at: JDIV, PEY, EMLP and FDHY. + +Any thoughts? +Alt account looking for some help. + +We finished our remortgaging process this week. Transferring over £300k into a new mortgage, new provider. + +Solicitors earlier this week sent the settlement figure which I paid. I owed a little bit for an early exit charge. + +With the mortgage swapping over to the new provider, the solicitors sent me a new final statement which showed that the first mortgage provider had a ‘redemption on the accounts’ of £100k. Just under it, in the ‘balance due to you’, was a figure of £200k. Low and behold, it went into my account today. + +I have no idea where this money is coming from. It’s just a straightforward remortgage. I’m not increasing the value of the mortgage, nor reducing it. Straight swap. + +It’s too late to call the solicitors today to ask what’s going on, so I’m turning to Reddit. I’m freaking out! + +Anyone else had any weird monetary going’s on when remortgaging? Random large amounts coming into your account? Do they go back out again? + +I feel like that guy who had random money coming into his premium bonds - I just want to get this fixed. It’s painful looking at my account knowing it’s not there forever… +I already wrote a [quick 1-min explainer on EIP-1559 here](https://www.reddit.com/r/ethtrader/comments/myydfi/the_most_exciting_thing_to_happen_to_ethereum/), but let's recap! + +When it goes live, and the network is busy (as it often is), a portion of gas fees will be burned. When the network is really busy, this can make ETH deflationary. (Read: decrease the total amount of ETH, so theoretically yours will become worth more.) + +Just to counter some common misconceptions: + +* ETH is already paid for fees, so that's nothing new! It's called gas. +* Issuance (2 ETH per block) remains unchanged too. + +Later, we will move to Proof of Stake (confirmed for december!). This makes Ethereum energy efficient, reducing usage by 99%. Talk about green! + +When the Merge happens, also called ETH2.0, *then* issuance will be changed. Something like 90%! I really like the source: [www.ethmerge.com](https://www.ethmerge.com) + +Just a note to newbies: ETH2.0 is just an upgrade to the network. Your ETH will stay ETH, and remains just as useful and valuable! There is **no** "ETH 2.0 coin", just ETH as we know it. +Welcome to the daily [Serious] trading/markets discussion thread of /r/EthTrader. + +*** + +The thread guidelines are as follows: + +- All sub rules apply here so please review our **[rules page](https://www.reddit.com/r/ethtrader/about/rules/)** to become familiar with them. The rules page is also linked in the announcement bar above. +- 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, lambos, etc. will **not** be tolerated under any circumstances. Low-effort content **should be reported** and redirected to the Daily Moontalk thread. To find this thread, simply look of it on the top page or [follow this link](https://www.reddit.com/r/ethtrader/search?q=Daily+Discussion%5D&restrict_sr=on&sort=new&t=new) 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! + +Since most of my family members aren't too good with technology, I've decided to type this out for them and include in my safe deposit box in case something ever happens to me. Otherwise, my cryptocurrencies (majority of my net worth now) would be gone forever. Feel free to make any changes/improvements. The parts I've left blank (besides Ethereum and Ripple addresses) are meant to be hand written for additional safety. The provided ethereum address is mine in case anyone finds this very useful and would like to tip a small amount. + + +How to recover my crypto holdings from Ledger Nano S (Black stick) + +The easiest way to access my cryptocurrencies is to find someone knowledgeable with computers and make sure they are honest and they will guide you through. Just tell them my cryptocurrency is on a Ledger Nano S and have them look up how to use it online and how to trade cryptocurrencies into cash via exchanges such as Gemini or Coinbase and Poloniex. Try everything with small amounts first until you get the hang of it and make the big transfers. Even if it takes over a week, trust me, it is worth your time. + +The harder way will be to follow the instructions below. + +Create an account for yourself at Gemini.com (to convert Ethereum to cash) and link a bank account. This may take a few days. +If you hover over Transfer Funds > Deposit Into Exchange > ETH you can see your Gemini deposit address. + +Using Ledger Nano S + +1. Download the following apps for Google Chrome off Ledger Nano S website. Just search Google for the following and click on them (usually first link) and install. +a. Ledger Manager +b. Ledger Wallet Ripple +c. Ledger Wallet Ethereum +2. Look at YouTube videos on how to use Ledger Nano S +3. Go to Shapeshift.io (website) +4. Under Deposit select Ripple and under Receive select Ether. Select Quick, it is easier. +5. Enter the Deposit Addresses of the Ledger Nano S wallets: +a. Ethereum Address: 0xc0440a97c49E2a59F93cDC7D049EDe935C3ada9E +b. Ripple Address: +c. Note: Always copy/paste codes to be safe, don’t type them out +6. Click that you agree to the terms and start transaction +7. Connect Ledger Nano S via USB cable to laptop. If it is not the black USB cable with the Ledger icon at the small side of the end it might not recognize the device. +8. The PIN for my Ledger Nano S is: +9. If you enter the PIN incorrectly more than three times you might have to go through a recovery process using the 24 seed word list. +10. Open Ledger Wallet Ripple app +11. Ledger Wallet Ripple app will indicate balance. Toward the top there is a Home icon and Up and Down arrows. Click the Up arrow to send. +12. Enter a small amount (~100) of Ripple to send to make sure it is working +13. Enter the destination tag from the shapeshift.io transaction (the format will be something like rwfGzgd4bUStS9gA5xUhCmg1J86TMtmHMo) into Recipient Address on Ripple Ledger Wallet +14. On bottom left of Ledger Wallet Ripple app click Advanced Mode +15. On shapeshift.io it will say something below destination tag in the format: dt=10016391 +16. Copy the number after the “dt=” (i.e. 10016391) and paste it into TAG on Ledger Wallet Ripple +17. Click send and confirm transaction on Ledger Nano S. +18. The transaction should take less than 10 minutes (usually a lot faster) +19. Repeat to convert all Ripple to Ethereum +20. Open Ledger Wallet Ethereum app and click ETH +21. Ledger Wallet Ethereum app will indicate balance. Toward the top there is a Home icon and Up and Down arrows. Click the Up arrow to send. +22. Enter a small amount (~3) of Ethereum to send to make sure it is working +23. Send to the Deposit address found in your Gemini account. +24. The transaction should take less than an hour (usually a lot faster) +25. Transfer as much as needed and close Ledger Wallet Ethereum app +24. Convert the ETH to USD on Gemini by selling ETH and withdraw into bank account. + + +Poloniex: +I have other cryptocurrencies stored on Poloniex.com Use the following instructions to recover those. + +1. Go to poloniex.com +2. Click Sign in at top right +a. Email: +b. Password: +c. Open my iPhone with passcode: +d. Go to Finance folder and click Authenticator app +e. The bottom number is what you need to enter on poloniex.com (time-sensitive) +f. If you are unable to use my phone for logging in, you must contact poloniex and tell them my two factor authentication recovery code is: +3. Go to the top right and hover over “Balances” +4. Click Deposits and Withdrawals. +5. Here you can see all the other cryptocurrencies I have. +6. Click Exchange in the top left +7. At “Markets” on the right, click BTC right below it then click one of the coins I had in Deposits and Withdrawals. +8. For example click DGB +9. Below the chart it says “Sell DGB” +10. Below that it says “Buy orders” +11. If you want to sell immediately, you change the SELL price to be lower than the buy orders. Alternatively, you click one of the buy orders that shows “SUM(BTC)” amount that you want to sell, you will sell at the top amounts until that amount. +12. Type in amount of DGB you want to sell or click the number next to “You Have” +13. If you take up all the buy orders for that price, the remaining amount is placed as an order for you but you can always cancel later. It says “order placed.” +14. Click Sell. +15. Repeat until all coins have been converted to BTC. +16. Now under BTC find ETH and click on it. +17. Repeat the same procedure except buy ETH instead of selling. +18. If you did everything correctly, when you go to Balances then Deposits & Withdrawals, the only remaining coin should be ETH. +19. For ETH click withdraw and send to your Gemini address. You can only send up to $7,000 worth of coins per day from poloniex. +20. You will need to verify the withdrawal using the Authenticator app on my phone and by clicking a confirmation link in my email. +21. Email login: +22. Email password: + + + + +At the time of writing I have the following cryptocurrencies and amounts: + + + + + + +EDIT: For those of you who would like a modifiable GitHub version https://github.com/coldmug/cryptowill +Welcome to the daily [Serious] trading/markets discussion thread of /r/EthTrader. + +*** + +The thread guidelines are as follows: + +- All sub rules apply here so please review our **[rules page](https://www.reddit.com/r/ethtrader/about/rules/)** to become familiar with them. The rules page is also linked in the announcement bar above. +- 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, lambos, etc. will **not** be tolerated under any circumstances. Low-effort content **should be reported** and redirected to the Daily Moontalk thread. To find this thread, simply look of it on the top page or [follow this link](https://www.reddit.com/r/ethtrader/search?q=Daily+Discussion%5D&restrict_sr=on&sort=new&t=new) 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! + +Hello, + +Wondering reddit's thoughts on owning the MSOS ETF vs individual MSOs it holds. Why should I stack the MSOS ETF as opposed to buying my own stock in stuff like curaleaf, green thumb, trulieve, growgen, planet 13, columbia care etc? + +How "active" is the portfolio? Is it rebalanced often? Will it face rebalances as the winners of cannabis become more fleshed out in America? It has a very demanding Expense ratio of around 0.75% i believe. I almost feel that I am better off holding my individual MSO shares. I'm tryna see how I could justify the expense ratio for my investment money into cannabis. Thank you +Hello! + +My wife has a colleague who has been raving about EFTs to her. He says they are a sound way of potentially investing for a retirement fund for later on in our lives, which is something we have been discussing lately but not really seriously looked into. + +The problem is, I am not at all knowledge about stocks or trademarkets and certainly not when it comes to EFTs. However, I'm always slightly skeptical of the random claim that a given *thing* is amazing by one person. So I said before we jump into anything, I'll do some research and considering I frequent reddit, I found this sub. + +Does anyone have a short ELI5 or some reliable sources of knowledge about what EFTs are and what I need to know etc, before I go about and commit funds to it? + +Her colleague recommended a book (which she has already gone and bought) called The Barefoot Investor, which I plan on reading after she has. + +Hopefully someone can point me in the right direction. + +Cheers! +Hi all, assuming we came in on an influx of cash which we don't need for at least 15 years (or longer), what's the best way to invest. Mutual funds or ETFs? + +The standard advice is invest in index funds, all at once, not DCA (due to the Vanguard study). But still, seems like a hot market right now and worried we're investing at a high mark so that's a bit worrisome to me. + +Also almost all my investing has been in tax advantaged retirement accounts - this would be a non-retirement account - is there anything I should watch out for - i.e., are mutual funds better than ETFs or are ETFs better (I heard something about tax advantages of ETFs). I don't plan to trade a lot - just buy and hold a few index funds, maybe a growth index but perhaps a value fund as well. + +These are the ETFs I'm thinking of, but how do they do vs. the corresponding mutual fund? + +SPY + +QQQ + +MGK/IWY + +value ETF? + +What are good growth and value index ETFs otherwise according to you? Thanks! + +\--Ram +If you have $10K and it is invested. Over year zero to 1, what is the expected low, medium, and high returns? If one is conservative, moderate, aggressive, or very aggressive? What should be the percentage one should be spending in fees? What should one generally expect for years 2-5? Or 6-10? +First of all, I am incredibly privileged. When my grandpa passed away in March, I inherited $30,000. I had $10,000 saved up as well from working the prior summer and that $10,000 was already invested in the stock market. In high school I found out about stocks in my economics class and the day I turned 18 I invested every penny I had. + +Once again, I am privileged to be able to invest this money at all.. I have a college fund to pay my tuition, I don’t have to worry about when my next meal is coming, and I have the freedom to spend my money as I choose. + +Anyways, in March & April when the market crashed I decided it was time to really dive into the stock market. I spent about 5 hours every day researching companies and I’m here to share what I’ve learned. + +In my opinion, **the** **companies** **you** **invest** **in** **should** **be** **an** **extension** **of** **your** **worldview.** Where do you think the world will be in 10 years+ and what industries will prosper from the change. As I was raised in a liberal family and hold these values, I’m quite concerned with **Climate** **Change**. I’ve taken college classes in this realm since and learned more about the risks we face. I believe that any company whose mission revolves around mitigating the climate crisis will prosper in the coming decades. + +------------------------------------ + +That being said, I’ll list the companies I hold and a very brief synopsis of what they do and why I hold their stock. **Please** **do** **your** **own** **research**; this is only meant to introduce young investors to a certain mindset that I hold and the companies that I choose to support. + +-------------------------- + +1) **Tesla** **(TSLA)** + +portfolio weight: **22.86%** + +gain/loss **1026%** **gain** + +You guys all know what Tesla is about. They are the premier EV company with goals of cutting battery costs by 56% and producing 20,000,000+ cars in the decade. They also have a growing energy business with solar roofs, panels, battery storage and an autobidder software. Tesla is priced insanely high by traditional metrics. If these metrics are your investing style then it’s not for you. If you’re like me, and you look for companies to hold for decades then I believe Tesla is one of the best investments out there. What other company will benefit from the transition to renewables in response to climate change and changing political conditions? + +---------------------------------- + +2) **MP** **Materials** **(MP)** + +portfolio weight: **12.68%** + +gain/loss: **197%** **gain** + +MP is the only active rare earth mineral miner in the U.S. They produce neodymium concentrates which are important components in NDPR magnets; used in EV motors, wind turbines, electronics & much more. + +I bought MP during their early pre-merger days and have already seen considerable profits in a few months. I’ve been shaving this position to keep it around 10% because it is a commodity play which can be quite risky. That being said, rare earths are expected to appreciate substantially in price as EV demand increases. Furthermore, MP is moving downstream to refine their rare earths themselves, as they currently ship them to China to be refined, and in the future they plan on manufacturing their own NDPR batteries. This will increase their margins greatly. + +---------------------------------- + +3) **Planet** **13** **(PLNHF)** + +portfolio weight **5.35%** + +gain/loss: **147.71%** **gain** + +This one is a MJ stock and I’m focusing mostly on my Climate Change investments on this post so I’ll keep it brief. They own a superstore in Vegas and have their own brands. I believe the MJ industry is going to explode soon and PLNHF will benefit. + +-------------------------------------- + +4) **Jinko** **Solar** **(JKS)** + +portfolio weight: **4.91%** + +gain/loss: **268.88%** **gain** + +Jinko Solar is a leading solar panel manufacturer in China. They’ve seen market consolidation in China and are poised to benefit from increasing demand and incentives around solar energy. Specifically, South East Asia is expected to see dramatic growth in renewables as China/India are responsible for a large portion of global emissions and are also seeing considerable growth in GDP and population. It’s a play on the South East Asian economy and renewable industry. + +------------------------------------- + +5) **SolarEdge** **(SEDG)**: + +portfolio weight: **4.89%** + +gain/loss: **108.5%** **gain** + +SolarEdge is the global leader in panel inverters, which turn the sun’s D.C. current into usable electricity for households (A.C. current). The inverter space is a much more consolidated industry with higher margins than panels. They trade at a more expensive multiple and are expected to see dramatic top and bottom line growth in the coming years. Solar panels need inverters to perform; simple as that. With fewer companies focused on this space, I expect the top players to have a large market share and grow along with the solar energy market. SEDG is also expanding into the energy storage and EV charging markets with recent acquisitions. + +-------------------------------------- + +6) **Enphase** **Energy** **(ENPH)** + +portfolio weight: **4.43%** + +gain/loss: **203.08%** **gain** + +Enphase is also in the inverter market, with their differentiated microinverters. Micro Inverters are generally used in smaller systems and optimal for residential solar. Everything said above about the inverter market is true for Enphase as well. Enphase’s business goes beyond inverters though. They are targeting a full residential energy ecosystem, with storage and their “Enlighten” software App, which will manage home energy usage and sell excess energy back to the grid. Enphase is very much a play on a future decentralized microgrid, with homes trading energy to each other as prices fluctuate. + +------------------------------------------- + +7) **Canadian** **Solar** **(CSIQ)** + +portfolio weight: **4.42%** + +gain/loss: **118.32%** **gain** + +Canadian Solar is another panel manufacturing company. They are also seeing growth in market share as smaller players struggle during the pandemic. CSIQ is a low cost producer with residential, commercial and grid level projects. They are planning on expanding their recurring revenue stream through full and partial ownership of solar projects. You can read more about this on the IR page. CSIQ is a pure solar play with an international footprint and vast management expertise. They will certainly benefit from any movement towards renewables, especially if legislation is passed to set a price on carbon. + +-------------------------- + +8) **Lemonade** **(LMND)** + +portfolio weight: **3.93%** + +gain/loss: **112.52** **gain** + +Lemonade is not a climate change related investment. It’s highly speculative but I think their management team and business model is really cool so I put some money in (and quickly more than doubled it). I’ll be brief here, but basically they are a home/renter/pet insurance company that takes a flat 25% cut of premiums as revenue and uses the remaining money to pay out claims. They aim to align incentives by donating anything left over beyond the 25% to a charity of customers choosing. Also, their use of AI makes the registration and claims process seamless and “delights” customers. + +---------------------------- + +9) **TPI** **Composites** **(TPIC)** + +portfolio weight: **3.73%** + +gain/loss: **153.99%** **gain** + +TPIC manufacturers wind blade composites. They supply the top five wind turbine companies outside of China. I wrote about them on prior posts so I’ll just copy & paste here: +63% of total wind blade manufacturing is outsourced to companies like TPI and they are the market leader in this space with about 20% market share globally. The business currently has low margins, but they target a 12% EBITDA margin for the future, and they trade at a measly 0.74 P/S ratio currently. They are also expanding into EV composite manufacturing and have a contract with Workhorse to manufacture vehicle parts for them. +----------------------------- + +10) **Skyworks** **Solutions** **(SWKS)** + +portfolio weight: **2.83%** + +gain/loss: **60.57%** **gain** + +Skyworks is a semiconductor focused on connectivity chips for all kinds of devices. They aren’t climate change related which is the point of this post so I’ll leave it at that. + +---------------------------- + +11) **Tattooed** **Chef** **(TTCF)** + +portfolio weight: **2.65%** + +gain/loss: **55.90%** **gain** + +Tattooed Chef is a play on the rising plant-based food trend. They make a variety of frozen food items, widely available in Walmart, Costco and Target. They are expanding into Whole Foods, Trader Joe’s and many more stores, where I expect them to be very successful. The plant based market is exploding for a couple of reasons. Firstly, there is more research on the health benefits of a plant based diet, with athletes such as Chris Paul & Todd Gurley endorsing these brands. Also, consumers are becoming increasingly aware of the threat of climate change and how avoiding red meat can have a positive impact on the planet. I expect TTCF to benefit off of these trends and continue innovating in the plant-based space. I bought in 3 weeks ago and the price has exploded since then. + +------------------------- + +12) **Workhorse** **(WKHS)** + +portfolio weight: **2.60%** + +gain/loss: **35.90%** **gain** + +Workhorse is an electric delivery van company. They manufacture last mile electric vehicles and are developing drones to further decrease last mile delivery costs. They are a play on the e-commerce industry and electrification of vehicles. I’m invested in them because last mile delivery is responsible for a large chunk of transportation carbon emissions and in desperate need of electrification. I also believe that Workhorse will get a large chunk of the upcoming USPS contract which will provide a stable revenue stream. + +--------------------- + +13) **Aphria** **(APHA)** + +portfolio weight: **2.45%** + +gain/loss: **53%** **gain** + +Aphria is another MJ play for me. Once again they aren’t a climate change investment so I’ll keep it brief. They just finalized a merger with Tilray, making them the biggest cannabis producer in the world. They are based in Canada and I believe they will be the market leader in Europe, due to their infrastructure advantage through owning CC Pharma. + +---------------------------- + +14) **Vestas** **Wind** **Systems** **(VWDRY)** + +portfolio weight: **2.40%** + +gain/loss: **197.44%** **gain** + +Vestas is the global leader in wind turbine manufacturing and installation. They are one of the few pure wind plays in the stock market, making them an attractive choice for anybody looking to get exposure to wind. A big driver if future growth will be their service and maintainace business, which their management team has been focused on in recent quarters. This is a higher margin business with consistent recurring revenues. + +---------------------------- + +15) **Facebook** **(FB)** + +portfolio weight: **2.38%** + +gain/loss: **20.61%** **gain** + +I’m selling out of FB very soon but I still hold them for now. FB is an incredible business and I’m sure they’ll see growth in the future, but it just isn’t for me (anymore). I consider ethics a lot in my investments, which many of you may consider stupid but idc. + +--------------------------- + +16) **Hannon** **Armstrong** **(HASI)** + +portfolio weight: **2.18%** + +gain/loss: **57.40%** **gain** + +HASI is a REIT, which solely makes climate change related investments. They invest in the land under solar projects, energy efficient buildings and much more. HASI is a great dividend play and I expect their stock price to appreciate as climate change worries are exacerbated in the future. + +--------------------------- + +17) **Beyond** **Meat** **(BYND)** + +portfolio weight: **2.10%** + +gain/loss: **21.24%** **gain** + +I made a post with some DD earlier this year on Beyond so I’ll just link that below: + +https://www.reddit.com/r/stocks/comments/if9tmj/beyond_meat_bynd_fundamental_analysis_with_my/?utm_source=share&utm_medium=ios_app&utm_name=iossmf + +--------------------------- + +18) **Brookefield** **Renewable** **Partners** **(BEPC)** + +portfolio weight: **2.06%** + +gain/loss: **87.23%** **gain** + +BEPC owns and operates a portfolio of renewable energy assets. Earlier this year they completed a merger with Terraform Power, expanding their solar & wind footprint. They are also the primer owner of hydroelectric power plants, which produce a consistent source of electricity. BEPC has a strong management team and owns valuable assets that will greatly appreciate in value as government incentives expand around renewable energy consumption. They also pay a nice dividend. + +-------------------------- + + +19) **Disney** **(DIS)** + +portfolio weight: **2.03%** + +gain/loss: **50.06%** **gain** + +I’m invested in Disney mostly for some portfolio diversity. I’m a big fan of their streaming platform and business strategy revolving around that. This one isn’t climate change related so I’ll leave it at that. + +-------------------------- + + +20) **First** **Solar** **(FSLR)** + +portfolio weight: **1.84%** + +gain/loss: **70.47%** **gain** + +First Solar is an American based panel manufacturer and projects operator. They used differentiated technology with Cadmoum Telluride panels, which are supposed to increase output and lifetime at a higher cost. FSLR is just another play on the growing solar industry, and being U.S. based seems to reward them a higher earnings multiple in the market than their peers. They also have a beautiful balance sheet. + +-------------------------- + + +21) **Trulieve** **Cannabis** **(TCNFF)** + +portfolio weight: **1.44%** + +gain/loss: **5.33%** **gain** + +Trulieve is another Cannabis play. This one based in the U.S. with a large medical market in Florida. Nuff said. (Do your own research) + +-------------------------- + +22) **Star** **Peak** **Energy** **Transition** **(STPK)** + +portfolio weight **1.43%** + +gain/loss: **55.45%** **gain** + +Star peak is a brand new holding for me and already shot up like crazy. It’s one of these merger companies (the word is censored on this subreddit). merging with Stem energy storage. Stem is involved in the battery storage industry, with mostly grid level storage systems. They currently have an even larger market share than Tesla and my reason for holding this stock is mostly as a hedge against Tesla’s energy business. + +-------------------------- + + +23) **Shopify** **(SHOP)** + +portfolio weight: **1.10%** + +gain/loss: **18.19%** **gain** + +Shopify is an eCommerce platform, which allows customers to seamlessly design their own website and process payments. I’ve used Shopify in the past and am a big fan of the business, which is a big part of why I’m invested. They have a steep valuation but I plan on holding for 10+ years. + +-------------------------- + +Total gain: **181.52%** + +(Note: I’ve taken some profits on a few of my stocks so the unrealized gain from my current holdings is less than my “total” gain by a few % points.) + +-------------------------- + +Yes, I’m young and idealistic and have a lot to learn but I do know a few things. Here’s some of the lessons I’ve learned along my 1 and a half year journey in the market. + +-------------------------- + +1. By investing in a company, you are supporting them financially. Buying pressure on companies’ stocks increases the price and allows them to raise capital more efficiently. It might be hard to hear, but **when** **you** **buy** **Exxon** **stock**, **you** **are** **helping** **them** **destroy** **our** **planet**. The same is true vice versa. + +2. **Don’t** **listen** **to** **anybody** **on** **reddit**. Seriously. Nobody here knows any better than you. Do your own research, form your own judgements. If you’re gonna pick individual stocks then following advice on reddit is not the way to go. Reading through investor relations pages is the best way to go. Watch videos and read articles about both sides of the story with different companies. Don’t take these videos as facts though, just absorb what other people think and judge the validity of the information for yourself. It’s important to **become** **an** **independent** **thinker**. This is a slow process but eventually you’ll get the hang of things. + +3. **Invest** **with** **a** **10+** **year** **timeline**. This is especially true if you’re young like myself. Don’t concern yourself with daily or even monthly swings in a stock. Ask yourself if the company will be worth substantially more in a decade. If not, then say, if so then buy and hold. Don’t try to time the market or swing trade. You’re just bringing on unnecessary risk. Buy and hold and buy some more. + +4. **Assess** **your** **own** **risk** **tolerance**. As I’m sure several people will point out, my portfolio is incredibly speculative and risky from a traditional viewpoint. I have a really fucking high risk tolerance, so I invest with a “riskier” mindset. If I were to lose all my money tomorrow, I’d be fine. I’m going to have a college degree in a couple years and I’m not worried about being able to find a job. My reason for investing is about having the financial freedom to do whatever I want in life, and not worry about money in the future. If you’re investing for retirement or to pay off student loans, then I recommend taking a more conservative approach and maybe buying some index funds. However, if you’re young and have a stomach for risk like myself, then go crazy. + +------------------------------------ + +In conclusion, I’ve had an incredible year or so in the market. I don’t expect to have even close to these same returns in the future, but I’ve learned a thing or two and I’m here to share this information. You may disagree with everything I said and all the stocks I own and that’s okay! Don’t copy my portfolio and take everything I say with a grain of salt, however I hope you find some wisdom from this post! + + +------------------------- + +**Edit:** Since a bunch of people pointed out angrily in the comments that holding FB, DIS, SHOP and MJ stocks don't really align with "your investments should be an extension of your worldview," I agree with you guys. There are some notable exceptions, and not everything that us as humans do in our everyday lives align with our values. This is true of my portfolio too, however about 80% of the investments are climate change related, 10% weed (which I like) and the other 10% tech. If 90% of your actions in life further your world view then you're doing pretty damn good IMO + +**Edit2**: Also people seem to be pissed bc I inherited a lot of the money (3/4 of it) that I invested. I acknowledged already that I'm very lucky to be in this position and I don't really know what else to say about that, other than I aim to do something good with the money that I make +So if you enter a position based on value principles, doesn't it make since to exit a position based on value principals? Say you buy KO and the position becomes overvalued based on the same principals you used to determine it was undervalued when you bought. Wouldn't you sell? + +It seems like Buffet doesn't do this, he only sells if the thesis of the company changes, but not if the stock becomes to richly priced. Why? + +Wouldn't you check on your position each earnings, do the intrinsic math again, and if it was trading above that sell? +Got sick of reading all the surface-level reports on Evergrande and their debt holders. So I've put together a bit of digging. It's rly hard to find in-depth info on this company. So pls if you find some more missing pls drop it in the comments. Hope you enjoy. Ive posted my highlights but this is a long-haul read. + +# What is Evergrande Group? [Highlights](https://prophet-invest.com/what-is-evergrande) + +The Evergrande Group is a Chinese holdings company best known for property development. The group sells apartments to upper and middle-income customers. The group has a diversified series of businesses that operate across eight different industries. The sheer size makes them China’s second-biggest developer and Evergrande alone accounts for 2% of China’s GDP + +Evergrande’s massive scale of operations has landed them 122nd on the Fortune 500 Global list.  Currently, the total assets of Evergrande Group have reached RMB 2.3 trillion (355.6 Billion USD), and the group has annual sales exceeded RMB 700 billion (108.25 Billion USD). This makes them 122nd largest in terms of revenue in the world. + +Evergrande is a significant portion of the Chinese Real Estate Sector, comprising 1.13% of the total market cap. + +**The Rise and Fall of China’s Real Estate** + +The Chinese Real Estate market has been unrivaled over the past decade, reaching new heights and delivering a breathtaking 98% Annualised average growth rate since 1997. + +The China property boom has been encouraged by fiscal policy and catalyzed by relaxed lending and ghost town constructions. + +[IMAGE](https://preview.redd.it/8gyjzqc2afq71.png?width=831&format=png&auto=webp&s=9deac02bdb2b1eedb65119e4923542de97b7b7c9) + +We have seen developers borrowing billions creating [ghost towns](https://www.abc.net.au/news/2018-06-27/china-ghost-cities-show-growth-driven-by-debt/9912186) of apartments, supported by the bank’s constant lending and the government’s relaxed lending policies. + +China’s slowing economy amidst the COVID recession has pushed the crisis into the light as more and more borrowers defaulting on their loans. As a result of China’s ever-inflating [property bubble](https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/chinese-banks-seen-withstanding-rising-household-defaults-58028071), there has been stricter ruling for property developers such as China’s Evergrande Group. Developers are now forced to rein in their oversized debt to more manageable levels + +This initiative is there to protect China’s property market, but with giants like Evergrande being pushed into the spotlight now, it may be a little too late. + +**What is Evergrande? Group Segments** + +* **Evergrande Real Estate** + +The Evergrande Group has been making headlines around the world following its astronomical debt crisis. This problem stems from the groups Real Estate subsidiary. + +With over 1,300 projects across China, Evergrande Real Estate is the key contributor to the Evergrande group. Their Real Estate arm is a forerunner in Chinese property providing housing for more than 12 million proprietors. + +**How does the Evergrande Real Estate Business Work?** + +Evergrande has an extensive history of financing and running its colossal expansion through debt, which in part lead to the rise and fall of the Evergrande empire. The group would snap up land all over China, often paying well above market price to secure land and finance its projects with debt. + +Evergrande had easy access to debt facilities from its extensive relationships with the state’s banks, including ownership in some of China’s banks. The group would also raise billions of dollars through bonds. Evergrande would then take deposits from potential buyers and begin constructing massive apartments. + +Evergrande sold a large number of its bonds to funds such as UBS and Blackrock. Through using the revenue from previous constructions the group would rapidly begin new projects and expansions, all funded through debt. This cycle continued for years as Evergrande build a massive empire build on debt. As long as new money kept coming in and the Chinese property bubble continued, Evergrande could continue to amass its projects. + +With the rising concern of China’s real estate bubble, the CCP *(Chinese Communist Party)* began regulating the sector heavily to avoid a burst. This eventually led to the fall of Evergrande’s projects. + +* **Evergrande New Energy Auto** + +China’s Evergrande New Energy Auto also comes under the Evergrande Group banner. This business is separated listed as China Evergrande New Energy Vehicle Group Ltd 0708:HKE. + +Evergrande New Energy Auto is an electric vehicle company that has designed 14 vehicle models, with nine so far available to the public under the Hengchi badge. The group has the ambitious goal of achieving an annual production and sales of 1 million vehicles by 2025 and 5 million by 2035 to become the world’s largest and strongest new energy automotive group. + +In reality, the group hasn’t sold a single car yet, meanwhile, tesla saw the production of over half a million vehicles in 2020. + +* **Evergrande Propety Services** + +Evergrande Property Services much like their Electric Vehicle arm is a separately listed entity under Evergrande Property Services Group Ltd or 6666:HKE. + +The Property Services Group manages a portfolio of clients across China including high-end residential, Theme Parks, Healthcare Complexes, Theme towns, Schools, office buildings, and commercial properties to which it provides property management services. + +* **HengTen Networks** + +Evergrande has a 37.55% stake in China’s listend HengTen Networks 0136:HKE. HengTen Networks Group itself is a diversified investment holding company. The group holds stakes across community services, trading of securities, provision of loan financing, and property investment. + +The reportable business segments of the company are Internet community and related businesses and Manufacture and sales of accessories. + +Early July saw Evergrande entered into an agreement to reduce its stake in HengTen Networks to 26.55% ownership. The 11% reduction will be sold to Tencent Holdings Ltd and an Unidentified entity. The timeframe of the agreement is unclear at this stage but will free up HKD $3.25 Billion (Around $418 Million USD) for Evergrande to facilitate debt settlement. + +As part of the agreement, Evergrande has agreed to provide a 5-year loan of HK$2.07 billion to HengTen to support its business development. + +* **Fangchebao: FCB Group** + +FCB Group establishes a whole channel trade and service platform of real estate and vehicles both online and offline. Or put simply they offer brokerage services for real estate and vehicles. The group has 21 million brokers and 43,000 offline stores attracting over 20 million clients. It is expected to reach an annual trade amount of RMB 2 trillion in 2021. + +Earlier this year in March, Evergrande unveiled plans to spin off FCB Group as part of a NASDAQ IPO. The group had secured 17 investors in Pre-IPO raising looking to secure a 10% stake in the real estate and automobile marketplace for HK$16.35 billion ($2.10 billion USD). This deal valued FCB Group at HK$163.5 Billion ($21 Billion USD) in Pre-IPO. + +* **FairyLand** + +Evergrande Fairyland develops and constructs a unique theme park that provides full-indoor, all-weather, and all-season services, and also develops “Ocean Flower Island” in Hainan, China, a cultural destination appealing to tourists around the world. + +* **Evergrande Health** + +Evergrande Health Group operates “Evergrande Healthy Land”, a health and wellness park, and retirement community with health insurance products. The group works with the Brigham and Women’s Hospital to manage Boao Evergrande International Hospital in Hainan. The hospital sits within the Hainan Healthy Land precinct. Evergrande Health is also planned and operated by the Evergrande Auto Group (00708.HK). + +* **Evergrande Spring** + +Evergrande also has a 49% ownership of Evergrande Spring a bottled water segment of the overall Evergrande Group. Evergrande Spring has also been discussing a Hong Kong-based IPO to help provide liquidity to Evergrande’s debt crisis. A potential IPO could raise several hundred million dollars and take place next year, although no further details are clear at this stage. + +**Evergrande Holdings** + +[IMAGE](https://preview.redd.it/9q4ps9deafq71.png?width=739&format=png&auto=webp&s=c9c689febea9becd27417315cd57bccc2faba2e8) + +**Evergrande Debt** + +**How Much Debt Does Evergrande Have?** The group’s total liabilities are estimated at 1.97 trillion Yuan ($305 Billion USD), and debt at 572 billion Yaun ($88.57Billion USD). + +Due to the diversified nature of Evergrande’s debts and liabilities, it is hard to account for all the group’s owings. The group also has a number of off-balance sheet debts. Best estimates as above put their total liabilities and debts at $393.57 Billion USD. + +The group’s interest liabilities are said to be **rising by around $28 million daily.** + +**Who Holds Evergrande’s Debt?** Evergrande’s Debt and liabilities are widely held by Chinese financial institutes, fund providers namely HSBC, UBS, and Blackrock, retail investors through bond investing, homebuyers who place a deposit on projects, and Evergrande’s construction partners including construction material and design contractors. + +**Chinese Debt Regulation: How Much Does Evergrande Have to Raise?** + +in 2020 Beijing introduced strict rules for the countries real estate developers, to help protect the sector from a real estate debt bubble. + +The rulings are known as the “Three Red line System” + +**What is the Three Red Line System?** The three red lines have been established to prevent a systemic crisis arising from inflated debt burdens carried by China’s biggest developers. The provisions are as follows: + +* A 70% ceiling on liabilities to assets, excluding advance proceeds from projects sold on contract, +* A 100% cap on net debt to equity, +* A cash to short-term borrowing ratio of at least one. + +[IMAGE](https://preview.redd.it/vy61cpl4afq71.png?width=951&format=png&auto=webp&s=e3c20c496071cb0cfc7cee986d9fec9fa1a433f0) + +With Evergrande struggling to meet the new measures we saw the group offering properties at major discounts and rushing to take their other businesses public to provide liquidity to the group. + +**How Can Evergrande Service Their Debt?** + +Evergrande’s debt is nothing new, it’s been weighing on their business slowly growing for years. The group has been taking some initiatives to improve cash flow and reduce their debt. This can be broken down into three groups; + +1. **Selling businesses and Raising Capital** +2. **Issuing debt to maintain Cash-Flow** +3. **Selling Assets** + +* **Selling Businesses and Raising Capital** + +One of the biggest plans for Evergrande was improving Cashflow and building their balance sheet by selling off some of their businesses. We saw this with the listing of Evergrande Property Services and Evergrande New Energy Auto. + +However, Evergrande may have been too late to this strategy, with many listing plans announced just prior to the explosion of the debt crisis. With all stocks and bonds under the Evergrande brand being sold off at alarming rates, it seems a little too late to raise capital. The company was in plans of offloading its electric vehicle and property management services stakes. + +* **Issuing More Debt** + +We have also seen a massive issuance of Evergrande bonds in the past as the group began piling on more debt to build cash flow. In the section below (Evergrande Bond List) we can see the mountain of bonds the group has amassed which will eventually have to be paid back to investors. + +* **Selling Assets** + +The company’s access to freely available cash is also shrinking. We have seen bank accounts frozen and the sale of two of the company’s residential projects halted until mid-October. We have also seen the group selling developments at a steep loss, including talks of selling their head offices for just HK$10.5 billion, 33% less than what they purchased it for. + +All three methods of cash flow have been drying up amidst a massive liquidity crunch, leaving Evergrande even more exposed. + +**USD and Yuan: Evergrande Bond List** + +[IMAGE](https://preview.redd.it/ldioy7z5afq71.png?width=780&format=png&auto=webp&s=143d447dca4745ac10d67254d3504c2124368cf6) + +Evergrande narrowly escaped defaulting on their Bond Coupon payments on September 23. But when we break down their mountain of bonds, this was just the beginning. Eventually, all bonds will have to be paid back at face value by Evergrande which will amount to a much larger sum than the $83.5 Million payment in September. + +Among these bonds, we can see just under USD$3.5 Billion due in the first half of 2022. Along the way, there is also a number of coupon payment due, all of which are to be made in USD. This becomes even more expensive with the falling Yaun. + +**Who are Evergrande’s bond holders?** + +[IMAGE](https://preview.redd.it/6zsli0x6afq71.png?width=787&format=png&auto=webp&s=6a023d8bfafef36f59d94ae3dce29d4eb42b792e) + +**Evergrande Share Price** + +Seeing red is nothing new for the Evergrande share price which has been on a downwards bearish trajectory for the last four years. In July the Evergrande (3333.HK) share price collapsed, losing a massive 50%. + +>**In just six months Evergrande has managed to wipe away over $100 Billion USD in value from their stock price.** + +With investors seeing their holdings further cut in half over July, Evergrande's Market Capitalisation lost HKD$8.165 Billion over the month, ranging from HKD$16.33 Billion to HKD$8.165 Billion. + +We do see a sharp increase in Evergande's share price around September 23rd. The day many investors and creditors feared the company to default on $83.5 Million dollars in Coupon payments of US dollar-denominated bonds. The company managed to make the payment. This surprised shareholders who were largely expecting the group to default and pushed the price higher. + +It has since restarted its bearish slide as a mountain of debt obligations are still ahead of the company. + +**Who Ownes Evergrande?** + +[IMAGE](https://preview.redd.it/i3yr9cy8afq71.png?width=780&format=png&auto=webp&s=177937d920b1f41a7e1526277da3da281e84daec) + +We can see that Evergrande Group has maintained massive insider ownership at around 78%. Of this Ka Yan Hui (Xu Jiayin), Evergrande founder and Executive Chairman owns 76.98% of the company or 10,162,119,735 shares. + +Ka Yan Hui's position has landed him a spot on Forbes Billionaire list.  Forbes listed Xu as third on the list of the Richest Chinese Billionaires. Although Evergrande's mounting debt and the collapsing share price have seen his wealth slashed by tens of billions over the past five years. + +Chinese Estates Holdings Limited (HKE:0127) and CEO Chan Hoi-Wan are also significant holders of Evergrande with a 6.36% and 1.49% respectively. Chinese Estates Holdings is also in the property development and lending business. The group has rapidly been selling down shares and plans on [completely dumping](https://www.reuters.com/world/china/evergrandes-second-biggest-shareholder-plans-sell-entire-stake-2021-09-23/) its holdings. + +Chinese Estate's share price has also been bid down massively at high volumes as investors grow nervous of their massive stake. + +We can see fund providers Vanguard and Blackrock has exposure to Evergrande. This is through Funds such as [VAE](https://www.vanguard.com.au/personal/products/en/detail/8215/portfolio) (Vanguard FTSE Asia ex Japan Shares Index). VAE has 1440 holdings with Evergrande being the 601st largest holding accounting for 0.02945% of the fund. + +UBS, Blackrock, and HSBC were also accumulating the developer's bonds until relatively recently including when it was already clear the company was experiencing financial difficulties.  + +**Insider Selling: Evergrandes Executives Selling Down** + +As part of Chinese Estates dropping their holdings in Evergrande CEO Chan Hoi-Wan has been rapidly selling off shares since August. In just under a month Hoi-Wan has sold off HK$115.7 Million, with more selling likely on the way. + +>**"The directors are cautious and concerned about the recent development of China Evergrande Group including certain disclosure made by China Evergrande Group on its liquidity,"** +*Chinese Estates Holdings Limited* + +The Chinese Estates Holdings group has a massive reliance on Evergrande and bragged about their massive increase in Revenues and Profits thanks to dividends realized from their Evergrande holdings. 35.8% of the group's assets are listed shares and bonds in the failing Evergrande. + +The collapse of Evergrande may put Chinese Estates Holding under great financial stress. + +**"Chinese Estate's securities investments in China Evergrande including listed shares and bonds amounted to HK$13,414.2 million (2019: HK$20,012.0 million) or 35.8% (2019: 41.4%) of total assets."** + +**Is Evergrande too big to fail: Crash Imminent?** + +**When Will Evergrande Fail?** It's difficult to say when the company will default on payments and fail. With a massive USD$3.5 Billion in bonds due in the first half of 2022, it seems the default is imminent. The CCP is currently in talks with Evergrande and looking to head up the group's liquidation. + +**Who Will Be Impacted by Evergrande?** Evergrande has a large network of relationships that will be hit by the debt explosion. Depending on the details of the liquidation we may see Evergrande shareholders lose all their capital, Banks with Evergande on their balance sheet may see large impairments, Bondholders such as retail and funds like UBS and HSBC will lose value on their investments, and contactors of Evergrande may not be paid for their services. Perhaps the most heartbreaking and biggest impact will be the families of China who put down deposits with Evergrande who stand to lose a house and deposit for some time. + +**What will the fall of Evergrande look like?** There are three popular opinions for the events surrounding the downfall of Evergrande. + +1. **A Complete Fail of Evergrande- With No Government Bail Out** +2. **The Government Assists in the Slow Collapse and Liquidation** +3. **The Government Bails out Evergrande** + +**A Complete Fail of Evergrande- With No Government Bail Out** + +The complete failure of Evergrande would have massive repercussions for Evergrande's stakeholders and the Chinese financial system. With China's developers, all being heavily in debt investor confidence will ween from the property sector. We would see banks, investors, and funds shy away from developers creating a credit crunch for China's massive Real Estate sector. + +With the real estate sector accounting for 30% of China's GDP this would put a dampener on the Chinese economy. + +With the downfall of Evergrande, we will see defaults across their debts and liabilities leaving many contractors unpaid and banks across the country realizing impairments, again impacting the wider Chinese economy. + +An Evergrande explosion would also see 1.7 million Chinese families homeless with no deposits recovered. With growing concerns of this possibility, we have seen rioting and general unsettling throughout China. On the back of Hong Kong riots, further trouble across China will lead to widespread Chinese up evil. + +**Evergrande's Heicharchy of Debtors: Who will get paid? In Order** + +1. **Suppliers and Customers:** Supliers and contractors of Evergrande who have completed work for the group will likely be first to be paid along side the 1.7 Million customers that put up a deposit for housing. +2. **Banks and Wealth Management Investors:** State-Owned banks are among the biggest holders of Evergrandes debts. They will receive money after liabilities are paid out. Alongside wealth management investors who were promised low-risk mortgage based securities. +3. **Unsecured Debtors:** Many international and domestic funds and private investors hold Evergrande Bonds. These unsecured debtors will be paid out after all liabilties and secured debts. +4. **Shareholders:** Any remaining capital would be returned to shareholders + +**Summary/TLDR** + +Evergrande is Chinas most indebted and second-largest property developer. The group has leveraged itself heavily into China's property boom. But increased regulation has exposed their crippling debt and forced them to reduce their risk in line with China's Three Red Line policy. + +In trying to leverage down the company has been caught out defaulting on contactors and ruined investor's confidence. With investors rushing to sell Evergrande, the run on the group has caused a credit crunch which has Evergrande stuck with its crippling debt. + +With a complete failure of Evergrande likely imminent, this may have massive impacts on other interlinked indebted developers and state banks. Complete failure may end Chinas massive property boom, dampening the global economy and leading to social unrest. +Price to sales and all valuation metrics are GREAT. I also like the business model because the way I see it, there will always be demand for in-person fabric shopping. The only problem I really see is their current assets and liabilities because when I look closer into the assets, it’s all inventory. I’m looking for discussion so that I can make better sense of this. +Hello there, + +I'm a college sophomore who's been trying to learn more about value investing and hopefully make a career out of it! I'm a huge fan of Everything Money and Phil Town. Recently, I've looked at SFM after hearing Phil Town talk about it. Looking deeper into it, here's where I found: + +Strong Revenue Growth even before the pandemic + +PE suggested undervalued + +Strong Profit Margin + +I like their moves to open more stores in the future, but unsure how the recession and higher interest rates would affect them + +One thing also that Phil Town pointed out was the economic moat was hard to find with the company (despite it seemingly to grow faster over the past 10 years and keeping a strong gross profit margin. As a Walmart worker, I understand this space pretty well, and like the Sprouts caters towards those looking for healthier or vegan food options. I would like to hear y'all's opinion on this company. + +&#x200B; + +Thank you! +Hey Team, I am still new to value investing but have read several books and routinely listen to Phil Town’s podcast. I’m hoping I can quickly talk through how I’m looking at Bank of America and someone on here with more experience can tell me what I’m doing wrong. + +BAC’s market cap is ~$224B. Their Free Cash Flow (FCF) was ~$16B quarter ending 6/30/2020 (according to macro trends.net). If we extrapolate their most recent FCF for the next 12 months that’s a FCF of $64B/year. If we divide the market cap by the annual FCF that’s $224B/$64B=3.5 years. Meaning that BAC will earn back their market cap in 3.5 years. + +Even if we assume their annual FCF takes a 40% decline and doesn’t grow that’s $224B/$38B= 5.9 years for BAC to earn their market cap.... + +I must be missing something because that seems insanely cheap! Can someone please tell me what I am doing wrong here? +For all investors who are thinking, analysing and worrying about Intel. I have been analysing the semiconductor industry for last two months with a friend and wrote 2 parts covering history of semiconductors & where I believe the industry is going. + +Please do read if interested and let me know what you think. + +Part 1: https://freecashflowfordummies.substack.com/p/understanding-intel + +Part 2: https://freecashflowfordummies.substack.com/p/part-2-understanding-intel-from-90s + + + +Discl.: I am not invested in $INTC but invested in $TSM. +Interesting day with BTC futures hitting the market, but **I think ETH has much more to gain from futures than BTC does.** A few reasons for this: + +1) BTC is already very well known among financial professionals and the general public. ETH is becoming more well known, but *futures will substantially help boost awareness and legitimacy* (especially since ETH is next in line). When these folks get a taste of their first crypto (BTC), many will quickly want to add others to diversify. They will also look back and see that ETH is worth 4x today what BTC was one year ago. They may extrapolate a growth path from this and realize ETH could be a "second chance" for them. + +2) The general perception among many rational people is that BTC is overvalued at the moment, after an amazing run-up. Yes, futures are slightly pushing up the price now, but once CME shorts open up, I believe we will see *downside pressure with a possibly major correction for BTC*. + +3) ETH is perceived by many in the crypto community to be undervalued. *Futures may actually help boost the price to better reflect fundamentals by more professional investors who realize the value ETH offers*. ETH has real utility, with the promise of even more in the future as scaling solutions come online. + +4) Thinking a bit longer term, remember, two of ETH's primary uses are to purchase gas on the network and to collateralize value on chain (the second one is implied, but it's very real). *It's only a matter of time before financial firms and then companies want to hold ETH as an asset*- especially those that may eventually have plans to leverage the public blockchain as a part of their business activities. Futures give them the perfect way to start making these investments now / in the next year, while protecting themselves from price volatility. Compare this to BTC: only financial firms will likely hold BTC. Regular companies are probably not going to hold any. + +I remain slightly-cautiously-optimistically-bullish. *Just keep in mind that a BTC correction will probably drag ETH down too, but only in the short term*. + +At these levels, I am continuing to add to my holding position (especially under $500). I will be looking to diversify (only with new money) into non-ETH ecosystem coins in 2018, but right now, buying more ETH makes most sense for me. If you want to know why I'm diversifying, [you can read my thoughts from yesterday](https://www.reddit.com/r/ethtrader/comments/7isbmn/daily_general_discussion_december_10_2017/dr1mjsd/). +So I've been doing alot of research and it seems like there really is very little downside on a spac as long as you buy near the $10 range. Even if you buy at $11 or $12 your max loss would be 10 or 20%. + +Also there is the risk the spac goes nowhere for 2 years (at which your money will be returned to you) and you miss out on those potential gains. + +Am I missing anything else here? + +I'm thinking of parking some extra cash in SPACs since I dont want to invest in regular stocks right now since I find 99% of the market to be current fair value or overvalued. Not many opportunities here. + +I also have a fairly large portfolio I've been adding to for the last 5 years I'm pretty happy with already that I am just holding long term. + +Love to hear peoples thoughts on SPACs. +33 yr old single male working at technology company. No kids. + +Have saved up enough to cover my expenses for roughly the next 7.5 years in after-tax cash account. Have enough in a Roth and 401k to extend that quite a bit as a last resort. + +If I stuck it out for another year, I would increase that 7.5 to about 9.5 years to give some perspective. + +Been working at the same company for over 10 years. Started out as a unpaid intern in 2009, the height of the financial crisis, and worked my way up to a steady six figures job on our management team. + +I've felt completely burned out for about 4 years now and have considered quitting countless times, sometimes considering new company/new job but I don't think its so much the job as it is just the pace. I've never taken more than a week break since I started the job and the cumulative stress has built up to a point where the only way to get out of the rut is by resigning with nothing else lined up. Be completely free from work obligations to recover. + +I used to think that if I just get through this year... Then it became this quarter... then it has become everyday I wake up thinking I just need to get through today. + +Honestly I was thinking that if I just stuck it out, I could be at least semi-retired by 40 but after 2020 I think its better to take a gap 6-12 mo. to refresh my perspective and get a renewed enthusiasm for life/work that I haven't had in years. + +I figure if I don't do it now, I may never do it and regret it. Life tends not to slow down... it only speeds up. + +Anyone on here actually taken that leap without the parachute of another job lined up? + +Honestly looking more for people that actually did regret it. The cautionary tales are the ones that often go unspoken. + +Thanks for your help! +I’ve just graduated this year and have been offered a job which I’ll be starting next week. Up until now I’d only ever worked part-time for pocket money, so this is the first time I’ll be earning a proper income. I don’t really know anything about finance and I’d really like to learn how I could best manage my finances. Can anybody recommend any books/ articles I could read to develop financial literacy? Thank you. + +Edit: Thank you for the recommendations, I’m really grateful :) +I would also be receiving social security retirement benefits. + +I have 2 kids also want to save some money for their college but not enough to pay it all as I still want them to know the cost of their education. + +I would ideally want to save to take yearly vacations with them possibly even abroad . + +Please enlighten me ! Thank you +[Update](https://www.reddit.com/r/personalfinance/comments/3uyx5k/update_400k_suddenly_in_my_bank_account_since_3/) + +------------------------- + +Throwaway. It is an odd number $abc,xyz.xd, so it's not as simple as adding an extra zero and calling it a mistake. + +The bank also called me up and asked me to move the money in an account that has a higher interest rate than my current one. So instead of getting ~$100 per month, I'd be getting ~$400-700 per month. + +What should I do? + +I'm in NSW, Australia. 22 years old, no student loan, didn't go college, finished high school. Just been working. No car, no debts. Still live with my parents and don't pay rent, but help out with groceries once in a while... + +Please advise on what I should do? Thank you in advance. + +-- + +EDIT: post is locked due to silly comments, but pls pm if u have actual advice. thanks. +also i mention a little about me because i have no reason to want to use this money as i have no financial burden. thanks for all your helpful comments. +# Daily Wrinkle Brain Think Tank + +Please keep this daily discussion limited to the stocks and $GME - i.e. stock movements, sharing information, peer review, news sharing, asking/answering questions, and so on. + +# Want to learn more? [Check out our extensive Wiki](https://www.reddit.com/r/Superstonk/wiki/index) and [FAQ](https://www.reddit.com/r/Superstonk/wiki/index/faq) + +If you see mistakes in the wiki, or need to contact moderators, [please send us a Modmail](https://www.reddit.com/message/compose?to=/r/Superstonk). + +Please review the [**Superstonk Rules**](https://www.reddit.com/r/Superstonk/wiki/index/rules) before commenting or posting on r/Superstonk. + +*Daily discussion threads are created at 4:00 a.m. EDT* +Guten Morgen to this global band of Apes! 👋🦍 + +Last week was one of the most exciting yet, and I have a feeling that this week is going to be even more exciting. As we approach the deadline to vote, I want to emphasize how important it is that each Ape votes all of their shares. We have the opportunity to overwhelmingly approve the resolution that the Board will use as a mandate for a stock dividend, and the more votes we are able to muster, the more obvious it will be that it is the will of the shareholders to issue the dividend. + +Today's exchange rate is the lowest I've ever seen; another indication that the global markets are all in a tailspin. Where will it go today? + +Today is Monday, May 16th, and you know what that means! Join other apes around the world to watch infrequent updates from the German markets! + +###🚀 Buckle Up! 🚀 +*** + + +- ⬜ 120 minutes in: **$98.50 / 94,85 €** *(volume: 1783)* +- ⬜ 115 minutes in: $98.50 / 94,85 € *(volume: 1782)* +- 🟩 110 minutes in: $98.50 / 94,85 € *(volume: 1782)* +- ⬜ 105 minutes in: $98.50 / 94,84 € *(volume: 1771)* +- ⬜ 100 minutes in: $98.50 / 94,84 € *(volume: 1761)* +- ⬜ 95 minutes in: $98.50 / 94,84 € *(volume: 1748)* +- ⬜ 90 minutes in: $98.50 / 94,84 € *(volume: 1748)* +- ⬜ 85 minutes in: $98.50 / 94,84 € *(volume: 1733)* +- 🟩 80 minutes in: $98.50 / 94,84 € *(volume: 1728)* +- ⬜ 75 minutes in: $98.19 / 94,55 € *(volume: 1593)* +- 🟥 70 minutes in: $98.19 / 94,55 € *(volume: 1520)* +- 🟥 65 minutes in: $98.55 / 94,90 € *(volume: 1493)* +- ⬜ 60 minutes in: $98.56 / 94,90 € *(volume: 1493)* +- ⬜ 55 minutes in: $98.56 / 94,90 € *(volume: 1477)* +- ⬜ 50 minutes in: $98.56 / 94,90 € *(volume: 1456)* +- 🟩 45 minutes in: $98.56 / 94,90 € *(volume: 1440)* +- 🟩 40 minutes in: $98.55 / 94,90 € *(volume: 1440)* +- 🟥 35 minutes in: $98.35 / 94,70 € *(volume: 895)* +- 🟩 30 minutes in: $98.35 / 94,70 € *(volume: 685)* +- 🟥 25 minutes in: $98.35 / 94,70 € *(volume: 682)* +- ⬜ 20 minutes in: $98.35 / 94,70 € *(volume: 681)* +- 🟥 15 minutes in: $98.35 / 94,70 € *(volume: 564)* +- 🟥 10 minutes in: $98.40 / 94,75 € *(volume: 564)* +- 🟥 5 minutes in: $99.18 / 95,50 € *(volume: 351)* +- 🟩 0 minutes in: $99.23 / 95,56 € *(volume: 153)* +- 🟩 US close price: $98.39 / 94,74 € *($98.00 / 94,37 € after-hours)* + + +*** +FAQ: I'm capturing current price and volume data from German exchanges and converting to USD. Today's euro -> USD conversion ratio is 1.0385. I programmed a tool that assists me in fetching this data and updating the post. If you'd like to check current prices directly, you can check [Lang & Schwarz](https://www.ls-tc.de/de/aktie/gamestop-aktie) or [TradeGate](https://www.tradegate.de/orderbuch.php?isin=US36467W1099) + +Diamantenhände isn't simply a thread on Superstonk, it's a community that gathers daily to represent the many corners of this world who love this stock. Many thanks to the originator of the series, DerGurkenraspler, who we wish well. We all love seeing the energy that people represent their varied homelands. Show your flags, share some culture, and unite around GME! +Massive announcement for NVA, been following it for a while but definitely didn't expect this level of grades. + + +[https://www2.asx.com.au/markets/company/nva](https://www2.asx.com.au/markets/company/nva) ASX website if you wanna check out the announcement +Alright chaps and chapettes. Our mighty ruler u/The_lordofruin has called me out on my claim that I would eat my hat, specifically a legionnaires cap, if DXB closed red today. + +Now this motherfucker closed redder than Julia Gillard's box during a particularly heavy flow. So we've locked it in, Eddie. I'll eat my hat Friday evening and post the video no later than 10pm Saturday 19 September 2020 (I'll try to get it up straight after however). Delay between the deed and the posting as I imagine it will be a long video and I'll likely need some liquid encouragement. + +If I don't post the video by the specified time I'll join our dearly departed u/Fernal2020 in a year of exile. + +P.s. i hope the tags are working u/mcfucking just taught me how to do it. + + +As a US citizen living abroad i have recently received the 1200$ stimulus check, but my local banks here in Slovenia have recently stopped cashing US checks, so i have no way of cashing this check. + +Are there any banks in europe where i could open an account and send them the check? or perhaps a US bank that doesn't require a US address to open an account with them? Or perhaps there is a third party that could cash the check for me? + +Any help would be greatly appreciated +I need your advice. I am a 33 year old guy from Austria living in Amsterdam. I am earning approximately 4.500€ net monthly and have around €100k cash on my Austrian bank account, invested the same amount (€100k) in shares and bonds, partly very conversative (70%, fixed payout next year), different ETFs (30%)). + +&#x200B; + +Should I + +A: buy ETFs/stocks with most of my cash? + +Or + +B: buy myself a flat to live in and give up most savings? + +&#x200B; + +A bit about my situation: + +I am paying 1600€ rent for a flat, excluding utilities. I have a job at a rather small company and can imagine staying there for a few years, potentially 5-10 (depending on promotions and development). + +&#x200B; + +The large amount of cash is really bothering me. I know I am losing money, but I feel investing now in stocks is not a great time (reasons: economic consequences of covid unclear, very heated market) - i also know that I will still invest a large amount (maybe 70%) anyways, if - and this is a huge if - I don't buy a flat to live myself in. + +I could improve my living situation (from good to very good), use all my savings and a mortgage to buy a flat for around 600k. (with the risk of decreasing value of city center flats in Amsterdam). + +&#x200B; + +What would you do in my position? Any adivce would be really great +I'm understanding basic concept behinde it. What I don't get is why there is no price difference(or very small difference) beetwen Vanguard LifeStrategy 80% accu/distributed. From my understanding the price difference should be equal to dividend % which is more than 1%. But the price difference beetwen the two is \~0.1%. +Hey, I'm looking to move to a different country within the EU, and also technically starting a new job in another country, and this has raised many financial questions in me. I'll explain without specifically naming the countries if that's okay, so I'll use A B C D to represent them for privacy, these are all within the EU. + +Country **A** is where I currently reside/work/am a citizen atm. + +Country **B** is where I want to move to. + +Country **C** is where I also am a citizen but do not reside. + +Country **D** is where I'll be getting freelance work from. + +So rn I live in **A**, but the taxes are ridiculously high, and the country is crap, so I want to move to B in like 1-2 years. I work as a freelancer, I'm doing fine, but my country has limits to how much you can earn as a freelancer, and I'm nearing that limit especially if I take the offer of **D**, and if I go over the freelance limit I should have to create a company for tax purposes, but if I do I'd be losing so much money on taxes that it wouldn't even be worth taking the new job from country **D**. + +So that got me thinking, since I want to move countries I probably could open a bank account there and get **D** to send the money to my account in country **B**, and I assume I'd have to pay tax on it there, and if I would have to, I'd definitely be losing less money all in all, even if I have to create a company to do all of it in country **B**. But this is where it gets confusing to me, so here are my questions: + +**Can I even open a bank account** in country **B** if I'm not a citizen, and am not (YET) residing there? (like generally, or does this vary by country?) + +**If I can open one, and** country **D** sends my pay there, I assume I pay taxes to country **B** for this income, and not country A correct? + +&#x200B; + +**So if I live in** country **A**, but have a bank account and pay income taxes in country **B (or C** if I end up not moving) **is that generally legal? Or is this some form of tax fraud?** + +Thank you for the help in advance! **My main goal is not to commit tax fraud obviously**, but I don't know anyone who is employed in a country, but gets payed from another country, and lives in a different country. +Hello. A few years ago I started buying IWDA iShares Core MSCI World UCITS ETF and in 2021 I added some EMIM iShares Core MSCI Emerging Markets UCITS ETF (currently about 3% of my portfolio). + +The accumulating version of Vanguard FTSE All World UCITS ETF (VWCE) was not available when I started buying IWDA. If it was, I would have used it. I can buy it now and this has raised some questions. + +I am considering three options: +1. Sell all my shares in IWDA and EMIM and buy VWCE. +2. Start buying VWCE with new money, keep IWDA and EMIM. +3. Keep investing in IWDA and EMIM and ignore VWCE. + +Option 1 will not lead to capital gains taxes, but will cost about 100 euro in brokerage commissions (50 to sell and 50 to buy). And as far as I know, I will have to wait 2 days before the money settles and the market could rise during that time. + +I like the simplicity of VWCE. What would you choose? +Welcome to the Daily General Discussion thread of /r/EthTrader. + +*** + +Thread guidelines: + +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All [sub rules](https://www.reddit.com/r/ethtrader/about/rules/) apply here so please be familiar with them. + +*** + + Resources and other information: + +* Find the latest Altcoin Discussion thread in [this search listing](https://www.reddit.com/r/ethtrader/search?q=author%3Aautomoderator+title%3Aaltcoin&include_over_18=on&sort=new&t=all). + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! + +I work in IT, and I had a positive interview that ended up getting the job offered a few hours after the interview. So I accepted with the terms of $20/hr and health insurance full time. Sounded great for getting back into things even taking less money after having to stop for covid-19. + +Came in this morning early before the work day to sign the employment contract. Only to find out the job would be $14 at minimum wage, no benefits, and having to pay out of pocket costs for traveling to job sites. + +Been in this field for over 15 years and I've never experienced or heard of something this shady happening. I said flatout that I would be going into debt just to work there to the managers face with the response of it not being their problem. + +Thankfully I have other offers and have interviewed at another IT company last week offering the same salary, full benefits 401k, sick/vacation time, and all in office. + +My friendly warning for others looking in this job market is to respectfully stand your ground with employers and be direct about the terms of employment. Yes, there's a lot of places hiring right now and even if you don't have all the required experience it would be worth your time to apply and express that you are willing to put in the effort to learn and be a valuable person for the company. But as I'm learning myself and seeing the meme level of how twisted working right now can be nobody should be taking advantage of in this way just to get work. + +Thanks for letting me rant. I'm pissed as hell for having my very limited money and time wasted by shitty people and I genuinely don't want others to go through the same experience. + +Edit as of 4 hours later: I accepted the job I interviewed for last week that is vastly better and start Monday. I also have a second interview tomorrow afternoon after a very positive 30 minute phone interview today. Why am I doing this? So I can play them off each other and see who will be the better fit. + +Side note just for the hell of it I applied to work at a drone company and I have a phone interview in a few hours. Probably not going to take it, but it's better to have options. Gatta admit working with drones sounds sorta cool so fuck it I'll just see how they play out. +Sorry for the simple question, but I just don’t get it. Who is choosing to sell at the current price? Don’t get me wrong, I’m loving it as a buyer, but I just don’t understand when they possibly bought and why (now of all times) they’re so desperate to sell… I mean we’ve dropped over 50% from ATH.. +**Join us this Thursday @ 10:30AM PST for an AMA with Maker CEO Rune Christensen and an unannounced guest, who will be taking your questions about their upcoming partnership (to be announced this Tuesday) and more. Mark your calendars.** +Edit: for those saying FUD 😂 I don’t plan on selling for any less than GMEfloor.com. I just want a plan to buffer the attention until I can emerge from my cave of tendies since I’m a young ape in my twenties. + +Edit 2: yo dis be my most popular post I think; hi mum, I wanna thank god, me mum, and DFV. but srsly thanks for the awards. I actually read every single comment and commented where I wanted. Y’all some funny mofos. + +know for one that I may or may not have told personal acquaintances along this 8 month journey that I was in GME; dad, step-mom, brother, a few friends, etc. + +As time has gone on, and the seriousness of the MOASS has become more and more real, I’ve become less and less confident in the imaginary, idealistic reality, that my family members/friends would not view me different, grow to resent me, expect things, maybe even do some shady shit. Certainly, NOTHING will be the same. + +So, I encourage everyone who is in the same boat as me - where close associates are aware of your poison in GME and intention to sell at $55M+ — to lie when the MOASS happens. + +When they blow up your phone during MOASS telling you to sell and “make back your investment” at $10,000 a share like a 📄 🙌🏼 just tell them you did. + +It’ll be better that your close associations think you made $100k then for them to know you have $100M+. + +It’s okay to lie. +It’s okay to think of yourself. +Power to the Players. + +💎 🙌🏼 +UPDATE 1: I was able to get them to schedule a meter test for Thursday afternoon, so we'll see how that goes. Thanks for your comments, guys. The most popular answer here was that it's a leaky toilet. I still have a hard time believing our toilet would just randomly leak profusely for four days and then suddenly stop, all without us noticing. It also doesn't quite explain the large variance in gallons over those four days. That toilet would also have to be producing over 5.5 gallons of water per minute, which seems like a bit more than just a quiet stream. I'm open to hearing more about that though. + + +**UPDATE 2: The test came back 100% accurate, so the meter is apparently not at fault. At this point, I have to accept the possibility of a very significant leak from my toilet that happened without my knowing. I've reached out to the water company and escalated the issue to management. I explained to them the situation and that a random $500 water bill with no confirmed source of a leak isn't acceptable and not something I'm willing to gamble with in the future. He's going to get with his higher ups and see what kind of options they can provide for me as it is a bit of a unique situation. Meanwhile, I'm having a plumber come out to take a look at our toilet. I'm hoping for a leak adjustment.** + + +I recently received a 90-day water bill for $500. This is more than double what I'm used to paying. The bill was for 35,000 gallons of water used over 3 months, and we're just two people in a small 800 square foot home. + +Upon reading the daily report, I came across four consecutive days from January 27th through January 30th where 20,000 of those 35,000 gallons were used. (See here: http://i.imgur.com/DPCqmSz.jpg) + +I looked back to see what we were doing during those times -- nothing out of the ordinary. We were home. It was the middle of winter in the midwest, and everything was frozen and covered in snow. + +We did check for leaks and there were none, but a leak that significant wouldn't have just fixed itself anyways. A burst water pipe wouldn't have fixed itself. I find it highly unlikely anyone could've hooked up to the spigot on our driveway for four consecutive days while we're home with our three neurotic dogs. + +The water company is holding me liable for this charge, and they're not listening to anything I have to say. Is there any way I can prove this wasn't my doing? I don't even know how this level of usage could've happened. Is a faulty meter possible? +Not trying to get political or anything, it's just really worrying when the government can just freeze your assets, your money whenever they will it. I don't believe that should be an option for anyone to be able to do and it holds too much undeserved power over the people. + +Storing a password well or taking much better care of your financial belongings and the access to them is a necessary sacrifice to avoid centralized governance over your assets. And what happened to the truckers is honestly maddening no matter what you think of the situation. + +I'm glad this year DeFi is back on the rise and a lot of protocols are investing millions into the platform and trying to make it a better place like Bitdao, it creates more hope for more decentralization in the future because everyday shows that DeFi is needed or these unruly displays of government power will continue to happen. +Your markets are run by bots. Now your daily threads are too. + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related.](http://discord.gg/2sQBNuM) +I am trying not to FOMO in to COST next year because they are so expensive, but worried the price will just keep going up. + +They have been growing revenues, building more locations and adding to membership growth, I am considering buying one share soon and add more if there is a drawdown. + +What are everyones' price targets for COST? + +CFRA has a price target of 558 currently. Morningstar fair value is 447. + +Edit: Argus has a price target of $610 and Reuters still has them as a BUY. +Not sure who needs to hear this but.. using fixed profit targets can help you in the long run. Now.. stay with me. + +Not using a fixed profit target per day is putting you in a position of overtrading. Yes, there will be days that the market moves a TON, how often does that happen? Not very often. + +I got caught up in the trap of constantly wanting more and more and more and more, and it would lead me to overtrade and would eventually cause me to lose money at the end of the day. + +For example, I'd be up $200, and then by the end of the day I'd be down $-250 because I wanted more. If I had set a daily profit/quota, I would've most likely been done for the day & closed up shop. + + +Think about it this way. Let's just say you want to aim to make $500 per day. You can multiply that by 5 days in a week, which is $2500 per week, or $10,000 a month. (You can live EXTREMELY comfortably making $10,000 a month). And this is attainable by using fixed take profits. It doesn't matter how much the market moves in a day, when you make the money you want, get out. + +It's also important to take into consideration of probabilities in trading. How probable is the market going to move hundreds of points in your favor everyday? Not likely. You're more likely to make $500 in a day, than you are $3000. Take your $500 and GET OUT. + +You'll thank yourself at the end of the month. + +If you don't agree with me that's cool, but I seriously don't care if the market moves a lot within a day, If I make a certain amount of money, I'm out and done for the day. + +If you agree or disagree let me know, I want to hear your opinions. +First of all, I would like to apologize for my last post. It would seem I had made a mistake. I'm not exactly sure where the numbers were wrong, but they are in conflict with this calculation, which I believe is far more accurate. + +Now, let's get into things. + +Etoro has made the following claims. It has 1.5% of eligible GME voters, 63% of eligible voters voted, and the number of shares voted is 709,497. + +[Disappointed by this voter turnout.](https://preview.redd.it/ff24i1mgdb471.jpg?width=638&format=pjpg&auto=webp&s=25fdff7cb5b9680093e3dfdc8a4593af67d5792c) + +[This number is straight from GME themselves](https://preview.redd.it/ky02idrgdb471.jpg?width=515&format=pjpg&auto=webp&s=c9005ec0c27137e4270e949b64cce19f0a4f4b28) + +**Let's do some fast math.** + +709k is only 63% of the total shares on Etoro, so. . . + +709,497 \* 100 / 63 = \~1,126,186 shares on their platform. + +Assuming Etoro users have the same average as other GME holders, that means 1.5% of GME shareholders own about 1.1 million shares, so 100% of them would own. . . + +1,126,186 \* 100 / 1.5 = 75,079,047 shares. + +Places of error: 1.5% is rather broad. This could mean 1.46%, or 1.54%. + +**Institutions count as 1 shareholder each but are not included in this calculation.** + +While GME shareholders are not the same as GME shares, there's no reason to assume that Etoro GME holders have significantly less or more shares on average than other people. However, as it is shareholders, we can safely omit institutions as there are far more retail shareholders than institutional ones. + +As I do not believe there are tens of thousands of institutions that own a significant portion of GME, I have not included them in this calculation and I do not believe they will significantly affect the results. + +**What does this mean?** + +According to Etoro, as of April, retail owns \~75 million shares out of the \~41 million float. I know that myself, along with **many others, purchased more shares after April.** + +**However, according to this filing, the top 6 institutions + insider ownership accounts for \~39.5 million shares, leaving only \~31.5 million shares up for grabs.** [**https://news.gamestop.com/node/18846/html**](https://news.gamestop.com/node/18846/html) + +Ding Dong the price is wrong. + +Buy. HODL. Buckle up. + +This is not financial advice. + +Edit 1: Added more info about institutional ownership. +Some additional details: my office offers a 2% cost of living increase, but a few years ago some select people only received a 1.8% increase. I was one of those people. No, it's not a very huge sum, but the reason they gave us for the disparity, was to help fix some salary inequalities. Is this something that I should fight for? Or it's just this the nature of capitalism? And even if I do fight for it, how do I bring this up that I know the new person's salary? +I've been working for a start-up company for the last 4 years. I was offered a share incentive plan to offset the risk in working for a start-up. I was honestly very confused about how the plan worked but it seems to have worked out for me when the company eventually went to IPO at the end of last year. I've been allocated a decent amount of shares. Due to COVID however the shares have lost significant value (about half what they were initially worth). + +Now its tax time and my taxable income has the initial share offering included and my tax bill is through the roof. The entire value of the shares, if I sold them, would be going to pay the tax. + +I'm at a complete loss on what to do? Am I just screwed on this? +It seems like banks are letting people leverage up to their eyeballs in debt when it comes to property. Is this properly stress tested and being done in a prudent way internally, or has the house market euphoria also bitten lenders. What are people really saying behind closed doors? +Whilst we are certainly not out of the woods just yet, was anyone brave enough to invest more in share markets when they were all getting smashed in recent times? +Not all hospitals in America have the same prices for each procedure, but they are [are required](https://blackdoctor.org/2022-bet-hip-hop-awards-host-calls-out-healthcare-system-for-robbing-patients/) to post prices online. While it's worth a try, some of the documents are pretty hard to read. (I think they do that intentionally.) + +But luckily there are some tools to make this much more easily searchable, I've been using [Finestra Health](http://finestrahealth.com) although their range is limited (there's a map on the site) but they seem to be expanding quickly. It's a free and easy way to make sure you're not getting screwed + +I live in the Boston area and the results showed almost precisely how much my bill last month was. I'm definitely going be using it going forward for sure. + +Do some research ahead of time and be able to budget accordingly. It's a major key +Not all hospitals in America have the same prices for each procedure, but they are [are required](https://blackdoctor.org/2022-bet-hip-hop-awards-host-calls-out-healthcare-system-for-robbing-patients/) to post prices online. While it's worth a try, some of the documents are pretty hard to read. (I think they do that intentionally.) + +But luckily there are some tools to make this much more easily searchable, I've been using [Finestra Health](http://finestrahealth.com) although their range is limited (there's a map on the site) but they seem to be expanding quickly. It's a free and easy way to make sure you're not getting screwed + +I live in the Boston area and the results showed almost precisely how much my bill last month was. I'm definitely going be using it going forward for sure. + +Do some research ahead of time and be able to budget accordingly. It's a major key +Given how many countries offer a golden visa for some minimum real estate purchase I’m curious if others are seriously considering jumping in now given the strong dollar? + +I have thought about it but never seriously considered it in the past, but with the dollar surging it looks like a good time to reconsider. +I would have had my eight year anniversary at the end of this month, and really I wish I didn't feel I had to leave. + +However though, after all that time, three promotions, I finally looked elsewhere, and I found a raise that basically matched all the raises I made at my old company in eight years and through those promotions. It sucks, and I know I am not breaking new ground here, but I do wish companies would realize that rewarding employees for sticking it out isn't some horrendous concept. + +Also, I could understand, especially this year, if the company was struggling. They weren't though. In the third quarter are net revenue was the same as third quarter last year, all while telling all of us that there were not likely to be raises this year. They talked out of both sides of their mouth. + +In any case, I am sad to leave. I liked my coworkers and I had a great vacation package, but honestly, I could not pass up the money and I couldn't continue to take the constant slaps in the face when it came to pay and this extra money will make a huge difference in my life. + +Basically, screw company loyalty. It isn't worth it and only benefits your employer. +One of the core tenets of the Bitcoin is that it is a decentralized currency. However, in the wake of yesterday's crash most people are begging the exchanges, especially Mt.Gox to act like a central bank and control/limit transactions they may deem to be gaming the system, and to shut down exchanges during times of turmoil. + +Decentralization at its core is very similar to anarchy. If you are going to support a currency because it is decentralized, you are going to have to come to terms that people are going to game the system to their own advantage, because there is no governing body preventing them from this. The moment that Mt. Gox and other exchanges start acting like central banks, this currency becomes no different than those backed by the governments around the world. +I believe we may be seeing peak [Bitcoin Maximalism](https://www.reddit.com/r/ethereum/comments/ceyzl6/this_is_what_we_get_when_there_is_no_one_to/) and peak Bitcoin arrogance. + +&#x200B; + +**TL;DR**: In a few months time, Ethereum will have the ability to host applications that can safely achieve over 1000 tx/sec and Crypto Twitter trolls will have no choice but to accept what is happening. + +&#x200B; + +Even Evan van Ness is tweeting similar things here: + +[https://twitter.com/evan\_van\_ness/status/1153428870185590785](https://twitter.com/evan_van_ness/status/1153428870185590785) + +Here is my reasoning + +Summarizing what Vitalik says in this **March 2019** [video](https://youtu.be/mOm47gBMfg8) @12:25: + +The ZK Rollup (A new alternative L2 scaling approach) system of simple payments could potentially increase scalability to 500 tx/sec right now but if we are able to reduce gas costs we can potentially push this *somewhere above* 1000 tx/sec. + +Now in **July 2019** EIP-2028, said gas cost reduction has been [accepted](https://twitter.com/StarkWareLtd/status/1153288241656864769) into the Istanbul hardfork which is due in a few months around **October 2019**. Researcher were able to achieve very significant gas reductions while increasing block size a little bit and well within safe limits. + +Think about that. In a few months, Ethereum will be capable of hosting systems that can outperform Bitcoin by more than 1000 tx/sec. IN A FEW MONTHS. This isn't about waiting for complete Ethereum 2.0 to emerge and this is without the complex exit games of Plasma. + +Types of applications that are mentioned in the video that could be implemented inside this setup and achieve that throughput include: + +\- High performance exchanges like StarkDEX + +\- Uniswap + +\- ENS + +\- others... + +Ethereum 1.0 is still mind blowing and is still far outpacing Bitcoin's progress and is about to have an undeniable blooming of a thousand flowers. None of this is even considering Ethereum 2.0. ~~With the introduction of the Beacon Chain in Phase 0 (probably~~ **~~January 2020~~**~~) even further enhancement of L2 scaling will be possible~~ (see Vitalik video linked above) EDIT: Actually I got this wrong... the additional Beacon Chain benefits will come in at Phase 1 (not the first phase zero in Jan 2020). These L2 techniques will be used in Phase 2 (third phase sharding) for intershard communication further speeding up the whole system. + +&#x200B; + +It's just a matter of time before the market admits what is happening. + +&#x200B; + +(Please do correct me where I'm wrong and I'll edit the post.) +No meme stocks. I already have pretty significant holdings of TSLA, ARKK, etc, so I’m not looking for more speculative tech. I’d be interested in doing CC or CSP. Or other suggestions that aren’t sum-zero bets. The goal is consistent monthly income with the willingness to hold long term if markets pullback. + +Thanks in advance! +31M, married, 1 kid, NW $650,000 + +&#x200B; + +Background: When my wife I got married we were over $250,000 in debt (mortgage, student loans, car loans). We got into Dave Ramsey around 26 and I discovered FIRE about 3 years ago. I read all the blogs, listened to pod casts daily, and bought tons of financial books. I was checking my accounts using an app every few days, my wife and I were eating rice and beans. I was glad we turned our finances around but the stress of massive debt morphed into stress that my early retirement goals werent happening soon enough. + +&#x200B; + +But after awhile the information just seemed repetitive, and around the same time about a year ago my son was born. Ive been so busy changing diapers, cleaning bottles and doing all of the baby stuff that I just realized I havent checked my net worth in months. + +&#x200B; + +Having automatic deductions setup has been a blessing, it has allowed me to enjoy more important things in life all the while my money is working for me. Looking back I dont feel like checking my NW daily or constantly worrying about how to create side income or reduce my electric bill by 1% did all that much to improve my finances. Our budget isnt as tight as it has been in the past, obviously kids cost money to raise but we also pay for conviences we didnt in the past just because we have less free time. This will certainly add another year or two of working to hit our retirment number, but I think once you understand the core values of FIRE and get into a routine its best to take a step back and enjoy life, rather than get caught up in the stress of chasing wealth. + +&#x200B; + +Ill get off my soap box now, just thought I would share some quick thoughts with those new to FIRE. Ill check back in with y'all next year, hopefully with a NW north of three quarters of a million and maybe a new addition to the family. + +&#x200B; + +\~Spart + +&#x200B; + +EDIT: Sorry for the confusion. Many are correct that my NW at time of marriage was not negative $250k, instead we had $250k of outstanding debt in the form of a mortgage, two car loans and student loans. If you took libailities minus assets at that time our actualy networth was probably closer to -$50k since the home and cars could have been sold and repaid most of the loans. + +&#x200B; + +The goal of the post was to discuss the emotions and stress behind actively vs passivly achieving FIRE. The summary being im happier not micromanaging my finances and I am still on track to achieve FIRE. +UPDATE!: Husband landed a full time job with great insurance that starts this month, and over 11/hr with a $1-2 raise in the next few months. We’re absolutely saved, relieved, and both so, so grateful for the support we received here. + +I also want to say that if we had taken the shitty advice we got from way too many people to jus take any job, he wouldn’t have been able to go find this one. So if you’re in a similar circumstance, and you’re hearing similar bullshit, tell them to take the job themselves or shut up. You’re great people. 🏆🏆🏆🏆🏆🏆🏆🏆🏆 (I’m still poor so here’s some poor mans gold for everybody!) + +—— + +I should start this by saying that my grandma is hardworking, kind, and smart as a whip. I love her dearly, and she’s one of the most hardworking people I know. She went to counsel the survivors of 9/11 and started a non profit counseling service for children. She’s a pillar in our family and I love her so much. + +She’s also driving me crazy. Today she was giving me some unsolicited advice about my husbands job hunt, mostly suggesting places like Home Depot, fast food, and the gas stations, all places in our town that have those ‘no one wants to work’ signs up but won’t actually hire anyone, or they pay nothing and provide no benefits. When I tried to explain to her why 8/hr isn’t worth the time and effort, she mentioned that my grandpa took a job for $500 a month once when he was starting out and that while it wasn’t much and she knows it was a few years ago, they could survive on it until he worked up to more; therefore any job was a good job… + +$500 in the 60’s has the buying power of $4,300 today. + +That’s over $25/hour. + +I want to cry. My husband has chronic health issues, and I’m burned out from my old job where I worked myself to death or 5 years for 13.75/hr. I work two part time jobs now as much as my chronic pain and fatigue allow and if just ONE of them paid me even $20/hr I’d be able to pay our bills and even start a savings account! + +It’s so frustrating to keep getting lectured by people who had all the opportunities and social programs and they closed the door on them for us. She told me I need to plan for retirement like that’s new information, and I had to explain that we can’t even make ends meet much less save anything.. She said ‘one day you won’t be able to work’ and I said ‘I can’t work now gram’. She suggested I start taking vitamin C. Meanwhile I’m trying to figure out how to pay for my ADHD meds.. + +They really don’t understand that with the system the way it is it almost doesn’t matter how hard you work. I’m so tired. And so tired of being poor. I’m sick of not having money. + +Edit: +1. I have two jobs. I’m not looking to leave either one, as they both offer flexibility with hours and are fulfilling. They both pay decently, I just can’t physically work enough hours, because my joints are on fire. + +2. Further unsolicited job hunting advice isn’t super helpful. There are several factors at play with finding a job that works for my husband, and without knowing and understanding them, your ‘advice’ is patronizing and frustrating. + +Edit 2: + +3. ADHD meds aren’t poison. They’re the only thing that makes my brain work like everyone else’s. If I didn’t have them I wouldn’t be able to concentrate long enough to do either of my jobs or even clean my house. It’s not poison, it’s a miracle that saved my life. Stop telling people to quit taking medication that helps them. Just quit. +[I'm freeeeee](https://www.youtube.com/watch?v=rGa70tVYVKo) + +...and it feels weird. Last day at work was Monday, and yesterday felt like a Saturday. I don't think it's sunk in yet. + +The nature of my work meant constant email-checking and a feckload of Skype meetings, and the "flexible schedule" meant...uh, nothing, because I still had to be accessible to clients/managers during the standard workday and usually beyond. I telecommuted, so my "wake up and put on shorts" routine hasn't changed. Yesterday I didn't know what to do with myself, so I did uh...laundry, and signed up for a Yale Coursera course. (There's a list of much more fun things I'm set to focus on like fiction-writing projects, gardening stuff, we're having houseguests in June and July and there's a trip in August we're planning, but yeah...this feels like a weekend/temporary.) + +[But my work is done!](https://www.youtube.com/watch?v=vK2lc2F-QcU) + +Really hitting me that there were so many years I spent unable to enjoy a holiday or a weekend/vacation because I'd be compelled to look at work email or get a call from someone about something that required attention RIGHT NOW. I need to mentally ditch this low-level-static jumpy hum of constant work responsibility feels. Maybe I need yoga. + +No. More. TPS. Reports. (!!!) + +**Deets:** + +Age 47 + +Sector: SaaS (B2B, but client-facing, not engineering) + +SR while working: 55-60% for last eight years. NO match(!) + +WR: 3% next year (took advantage of layoffs to call it quits, severance covers remainder of year expenses, spouse retired in 2015.) + +edit: thanks, all! +Guten Morgen to this global band of Apes! 👋🦍 + +What a way to close out the month and start the week! GME rose over 11% yesterday, with several significant swings upward and feeble attacks to dampen the momentum. Days like that demonstrate that the shorts are running low on ammo and are having a very difficult time keeping the price under control. Especially tit-jacking was the nearly 300k shares of near-term Put positions at $50 that were opened - they are throwing cash at the problem, desperate for any relief, but none ever comes. + +While there are multitude problems with the narrative of the documentary released last weekend, there are many individual investors who have come here to learn more. I *love* seeing the way this community has welcomed them and helped them to see a clearer picture what the reality is. GameStop is in an incredibly strong position to revolutionize retail, and has both the funds and talent to realize that potential. Many expect that they are on the verge of announcing an NFT marketplace, which when combined with their customer base and the companies whose products they sell will be the strongest NFT offering to date. Their incredibly small float is shorted many times over, with insiders and retail investors alike HODLing like crazy - even going so far as to withdraw shares from the DTCC and directly register them in their own name. The Institutional Shorts have no way out of their bad investment choices than to buy back hundreds of millions of shares from Apes with Diamantenhände who are *disinclined* to sell for less than life-altering amounts *per share*. + +This is a truly once-in-a-lifetime movement, and I am very glad that you found your way here. + +Today is Tuesday, February 1st, and you know what that means! Join other apes around the world to watch infrequent updates from the German markets! + +###🚀 Buckle Up! 🚀 +*** + + +- 🟩 120 minutes in: **$109.03 / 97,73 €** *(volume: 2530)* +- ⬜ 115 minutes in: $108.29 / 97,07 € *(volume: 2070)* +- 🟥 110 minutes in: $108.29 / 97,07 € *(volume: 2012)* +- 🟥 105 minutes in: $108.34 / 97,11 € *(volume: 1981)* +- 🟩 100 minutes in: $108.34 / 97,12 € *(volume: 1949)* +- 🟩 95 minutes in: $108.07 / 96,87 € *(volume: 1773)* +- 🟩 90 minutes in: $108.06 / 96,86 € *(volume: 1739)* +- 🟥 85 minutes in: $108.00 / 96,81 € *(volume: 1517)* +- 🟥 80 minutes in: $108.02 / 96,83 € *(volume: 1512)* +- 🟩 75 minutes in: $108.09 / 96,89 € *(volume: 1509)* +- 🟥 70 minutes in: $107.61 / 96,46 € *(volume: 1315)* +- 🟥 65 minutes in: $107.64 / 96,48 € *(volume: 1175)* +- 🟥 60 minutes in: $108.08 / 96,88 € *(volume: 1096)* +- 🟥 55 minutes in: $108.13 / 96,93 € *(volume: 1078)* +- 🟩 50 minutes in: $108.31 / 97,09 € *(volume: 1074)* +- 🟥 45 minutes in: $108.29 / 97,06 € *(volume: 1030)* +- 🟥 40 minutes in: $108.30 / 97,08 € *(volume: 847)* +- ⬜ 35 minutes in: $108.36 / 97,13 € *(volume: 825)* +- 🟥 30 minutes in: $108.36 / 97,13 € *(volume: 809)* +- 🟥 25 minutes in: $108.37 / 97,15 € *(volume: 604)* +- 🟩 20 minutes in: $108.39 / 97,16 € *(volume: 566)* +- 🟩 15 minutes in: $108.37 / 97,15 € *(volume: 520)* +- 🟥 10 minutes in: $108.30 / 97,08 € *(volume: 367)* +- 🟩 5 minutes in: $108.33 / 97,10 € *(volume: 358)* +- 🟥 0 minutes in: $108.08 / 96,88 € *(volume: 229)* +- 🟩 US close price: $108.93 / 97,64 € *($108.48 / 97,24 € after-hours)* + + +*** +FAQ: I'm capturing current price and volume data from German exchanges and converting to USD. Today's euro -> USD conversion ratio is 1.1156. I programmed a tool that assists me in fetching this data and updating the post. If you'd like to check current prices directly, you can check [Lang & Schwarz](https://www.ls-tc.de/de/aktie/gamestop-aktie) or [TradeGate](https://www.tradegate.de/orderbuch.php?isin=US36467W1099) + +Diamantenhände isn't simply a thread on Superstonk, it's a community that gathers daily to represent the many corners of this world who love this stock. Many thanks to the originator of the series, DerGurkenraspler, who we wish well. We all love seeing the energy that people represent their varied homelands. Show your flags, share some culture, and unite around GME! +http://www.reddit.com/r/pics/comments/bk6s0/norwegian_life/c0n6hfc + +US = 35% + +http://www.taxrates.cc/html/us-tax-rates.html + +Demark = 59% + +http://www.taxrates.cc/html/denmark-tax-rates.html + ++ + +State Tax 5.04% + ++ + +Health care contribution of 8% <--seperate + ++ + +local city icome tax 27.80% + ++ + +25% Value Added Tax is paid on all groceries, clothes, cars etc.<-- Poor people pay. + +http://www.reddit.com/r/pics/comments/bk6s0/norwegian_life/c0n6hfc + +US = 35% + +http://www.taxrates.cc/html/us-tax-rates.html + +Demark = 59% + +http://www.taxrates.cc/html/denmark-tax-rates.html + ++ + +State Tax 5.04% + ++ + +Health care contribution of 8% <--seperate + ++ + +local city icome tax 27.80% + ++ + +25% Value Added Tax is paid on all groceries, clothes, cars etc.<-- Poor people pay. + +**BACKGROUND** + +Segregated Witness (SegWit) was activated on the Bitcoin network August 24 2017 as a soft fork that is backward compatible with previous bitcoin transactions ([Understanding Segregated Witness](https://thewalletgenius.com/understanding-segwit-segregated-witness/)). Since that time wallets and exchanges have been slow to deploy SegWit, and the majority of users have not made the switch themselves. + +On Dec 18 2017 Subhan Nadeem has pointed out that: + [If every transaction in the Bitcoin network was a SegWit transaction today, blocks would contain up to 8,000 transactions, and the 138,000 unconfirmed transaction backlog would disappear instantly. Transaction fees would be almost non-existent once again](https://hackernoon.com/bitcoin-owners-you-need-to-do-these-two-things-right-now-a73122dd23d4). + +Mass SegWit use alone could empty the mempool, result in blocks that are not completely full, and make it possible to include transactions with $0 fee once again. + +[On Jan 11 2018 when BTC sends went offline at Coinbase the mempool began to rapidly empty. Later in the day when service was restored there was a sharp spike up in the mempool](https://twitter.com/JordanTuwiner/status/951698069967589376). Subsequently, that afternoon Brian Armstrong finally had to break his silence on the topic and admitted Coinbase is working on SegWit but has still not deployed it. It appears that this is an important data point that indicates if just a few major exchanges would deploy SegWit the high fees bitcoin is experiencing would be eliminated. + +SegWit is just one technique available to exchanges and users to reduce pressure on the Bitcoin network. You can make the switch to SegWit on your next transaction, and pressure exchanges to deploy SegWit NOW along with other actions that will reduce their transaction impact on the network. You can help by taking one or more of the action steps below. + +________________ + + +**ACTION STEPS** + +1. If your favorite wallet has not yet implemented SegWit, kindly ask them to do so immediately. If your wallet is not committed to implementing SegWit fast, speak out online any way you can and turn up the pressure. In the meantime start using a wallet that has already implemented SegWit. +2. If your favorite exchange has not yet implemented SegWit, try to avoid making any further purchases of bitcoin at that exchange and politely inform them that if they do not enable SegWit within 30-days they will lose your business. Sign-up for an account at a SegWit deployed/ready exchange now and initiate the verification process so you'll be ready to bail +3. Help educate newcomers to bitcoin about the transaction issue, steer them towards SegWit wallets from day one, and encourage them to avoid ever purchasing bitcoin through non-SegWit ready exchanges that are harming bitcoin. +4. Spread the word! Contact individuals, websites, etc that use bitcoin, explain the benefits of SegWit to everyone, and request they make the switch. Use social media to point out the benefits of SegWit adoption. + +IMPORTANT NOTE: The mempool is currently still quite backlogged. If you are a long-term holder and really have no reason to move your bitcoins at this time, wait until the mempool starts to clear and transaction fees go down before moving your bitcoins to a SegWit address or SegWit friendly exchange. + + +___________________ + + +**BEYOND SEGWIT - BATCHING, PAYMENT CHANNELS, LIGHTNING** + + +Batching is another great way that exchanges can reduce their fees. See: [Saving up to 80% on Bitcoin transaction fees by batching payments](https://bitcointechtalk.com/saving-up-to-80-on-bitcoin-transaction-fees-by-batching-payments-4147ab7009fb). Despite the benefits of batching, some exchanges have been slow to implement it. Users should demand this or walk. + +Beyond SegWit & Batching, Lightning Network integration will have even more effect. Lightning is now active and exchanges could setup payment channels between each other so that on-chain transactions need not take place. Some ideas have to outline how that might work are here: [Google Doc - Lightning Exchanges](https://docs.google.com/document/d/1r38-_IgtfOkhJh4QbN7l6bl7Rol05qS-i7BjM3AjKOQ/edit). Which two bitcoin exchanges will be the first to establish a lightning channel between themselves and offer free/instant transfers between them for their customers? This will happen in 2018 + + +______________________ + + +**MEMPOOL/SEGWIT STATISTICS** + +- [BitInfoCharts.com - Average Transaction Fees](https://bitinfocharts.com/comparison/bitcoin-transactionfees.html#3m) - $23USD per Tx +- [BitcoinFees.info - Next Block Fee](https://bitcoinfees.info/) - $14USD +- [Blockchain.info - Unconfirmed Transactions](https://blockchain.info/unconfirmed-transactions) - 131K unconfirmed Tx's +- [SegWit Charts](http://segwit.party/charts/) - 11% SegWit Tx's +- [Johoe's Bitcoin Mempool Statistics](https://dedi.jochen-hoenicke.de/queue/#1w) + + +_________________________________________ + + +**NEWS/DEVELOPMENTS/VICTORIES** + +- [Merged pull requests on SegWit. GUI support for SegWit in Core Wallet should happen on/before May 1 with the release of 0.16.0](https://www.reddit.com/r/Bitcoin/comments/7pmf8m/merged_pr_to_bitcoin_repo_segwit_wallet_support/) +- [Petition to Coinbase to Prioritize SegWit implementation on the Coinbase Bitcoin Wallet & GDAX Exchange passes 10,000](https://www.reddit.com/r/Bitcoin/comments/7op7vi/600_bitcoiners_signed_the_coinbase_segwit/) + + +__________________________ + + +**SELECTED TOP EXCHANGES BY BATCHING & SEGWIT STATUS** + +| Exchange | Segwit Status | Batching Status | +|---------------------|---------------|-----------------| +| Binance | *NOT READY* | **Yes** | +| Bitfinex | Ready | **Yes** | +| Bitonic | Ready | **Yes** | +| Bitstamp | **Deployed** | **Yes** | +| Bittrex | ? | **Yes** | +| Coinbase/GDAX | *NOT READY* | No | +| Gemini | Ready | No | +| HitBTC | **Deployed** | **Yes** | +| Huboi | ? | ? | +| Kraken | **Deployed** | **Yes** | +| LocalBitcoins | **Deployed** | **Yes** | +| OKEx | ? | ? | +| Poloniex | ? | **Yes** | +| QuadrigaCX | **Deployed** | **Yes** | +| Shapeshift | **Deployed** | No | + +Note: all exchanges that have deployed SegWit are currently only sending to p2sh SegWit addresses for now. No exchange will send to a bech32 address like the ones that Electrum generates + +[Source 1: BitcoinCore.org](https://bitcoincore.org/en/segwit_adoption/) + +[Source 2: /r/Bitcoin](https://www.reddit.com/r/Bitcoin/comments/7kherf/what_exchanges_batch_there_withdrawal_txs_to_save/) + +Official statements from exchanges: + +- Bitonic: [SegWit: In testing (including send from bech32). Batching: Have been for years. ](https://www.reddit.com/r/Bitcoin/comments/7mk8az/day_5_i_will_post_this_guide_regularly_until/drv127w/?context=3) +- [Coinbase: working on batching transactions, SegWit, and a number of other strategies to improve transaction backlog. Thx for bearing with us!](https://twitter.com/brian_armstrong/status/951869357931425792) +- Kraken: [Deposits are made to Segwit addresses and withdrawals are sent in Segwit format, but frontend presentation is pending full implementation/support in wallets such as bitcoin core.](https://twitter.com/krakenfx/status/949547526847307776) +- Shapeshift: [We don't order batch, but we will get to it. So much engineering to do :/](https://twitter.com/ErikVoorhees/status/947994430606229504) + + + +___________________ + + +**SELECTED WALLETS THAT HAVE SEGWIT ALREADY** + +Make sure you have a SegWit capable wallet installed and ready to use for your next bitcoin transaction + +| SegWit Enabled Wallets | Wallet Type | +|------------------------|-------------| +| Ledger Nano S | Hardware | +| Trezor | Hardware | +| Electrum | Desktop | +| Armory | Desktop | +| Edge | iOS | +| GreenAddress | iOS | +| BitWallet | iOS | +| Samourai | Android | +| GreenBits | Android | +| Electrum | Android | +| SegWitAddress.org| Paper | + + + + + + +______________________ + +**FAQs** + +###### If I'm a HODLer, will it help to send my BTC to a SegWit address now? + +> No, just get ready now so that your NEXT transaction will be to a SegWit wallet. Avoid burdening the network with any unnecessary transactions for now. + +###### Why is SegWit adoption going so slowly? Is it a time-consuming process, is there risk involved, is it laziness, or something else? + +> SegWit will require some extra work to be done right and securely. Also, most exchanges let the user pay the fee, and up to now users have not been overly concerned about fees so for some exchanges it hasn't been a priority. + +###### Once Segwit is FULLY adopted, what do we see the fees/transaction times going to? + +> Times stay the same - fees will go down. How much and for how long depends on what the demand for transactions will be at that time. + +###### What determines bitcoin transaction fees, to begin with? + +> Fees are charged per byte of data and are bid up by users. Miners will typically include the transaction with the highest fee/byte first. + +###### Can you please tell me how to move my bitcoins to SegWit address in Bitcoin core wallet? Does the sender or receiver matter? + +> The Bitcoin core wallet does not yet have a GUI for its SegWit functionality. Download the latest version of Electrum to generate a SegWit address. + +> A transaction between two SegWit addresses is a SegWit transaction. + +> A transaction sent from a SegWit address to a non-SegWit address is a SegWit transaction. + +> A transaction sent from a non-SegWit address to a SegWit address is NOT a SegWit transaction. You can send a SegWit Tx if the sending address is a SegWit address. + +> [Source: HowToToken](https://howtotoken.com/explained/send-bitcoin-faster-cheaper-SegWit-transactions) + +###### What wallet are you using to "batch your sends"? And how can I do that? + +> Using Electrum, the "Tools" menu option: "Pay to many". + +> Just enter your receive addresses and the amounts for each, and you can send multiple transactions for nearly the price of one. + +###### Why doesn't the Core Wallet yet support SegWit? + +> The Core Wallet supports SegWit, but its GUI doesn't. The next update will likely have GUI support built-in + +###### Why isn't a large exchange like Coinbase SegWit ready & deployed when much smaller exchanges already are? Why do they default to high fees? Where is the leadership there? + +> Draw your own conclusions based on their own words: + +> [March 2016 - Coinbase CEO Brian Armstrong has reservations about Core](https://blog.coinbase.com/what-happened-at-the-satoshi-roundtable-6c11a10d8cdf) + +> [Dec 2017 - Coinbase is STILL working on Segwit](https://blog.coinbase.com/bitcoin-segwit-update-3ab0484e4526) + +______________________ + + +**P2SH/bech32 FAQs** + +###### What are the two SegWit address formats and why do they exist? + +> It's been a challenge for wallet developers to implement SegWit in a way that users can easily and without too much disruption migrate from legacy to SegWit addresses. The first wallets to enable SegWit addresses – Ledger, Trezor, Core, GreenAddress – use so-called “nested P2SH addresses.” This means they take the existing Pay 2 Script Hash address – starting with a “3” – and put a SegWit address into it. This enables a high grade of compatibility to exist wallets as every wallet is familiar with these addresses, but it is a workaround which results in SegWit transactions needing around 10 percent more space than they otherwise would. + +> Electrum 3.0 was the first wallet to use bech32 addresses instead of nested p2sh addresses. + +> [Source: BTCManager.com](https://btcmanager.com/electrum-3-0-first-wallet-enable-bech32-segwit-addresses/) + +###### What is the difference in address format between SegWit address formats P2SH and bech32? + +> P2SH starts with "3..." + +> bech32 starts with "bc1..." + +###### Which addresses can I send from/to? + +> P2SH Segwit addresses can be sent to using older Bitcoin software with no Segwit support. This supports backward compatibility + +> bech32 can only be sent to from newer Bitcoin software that support bech32. Ex: Electrum + +> [Source: BitcoinTalk.org](https://bitcointalk.org/index.php?topic=2347427.msg23976364#msg23976364) + +###### Why did ThePirateBay put up two Bitcoin donation addresses on their frontpage, one bech32 and one not? + +> The address starting with a "3..." is a P2SH SegWit address that can be sent BTC from any bitcoin address including a legacy address. The address starting with a "bc1..." is a bech32 SegWit address that can only be sent to from newer wallets that support bech32. + +____________________ + +**SEGWIT BLOG GUIDES** + +- [HowToToken.com - How To Send Bitcoin Faster And Cheaper Over SegWit Transactions](https://howtotoken.com/explained/send-bitcoin-faster-cheaper-SegWit-transactions/) +- [BTCManager.com - Electrum 3.0 is first Wallet to enable Bech32 SegWit Addresses](https://btcmanager.com/electrum-3-0-first-wallet-enable-bech32-segwit-addresses/) + +______________________ + +**PREVIOUS DAY'S THREADS** + +There's lots of excellent info in the comments of the previous threads: + +- Day 1: [If every Bitcoin tx was a SegWit tx today, we'd have 8,000 tx blocks & the tx backlog would disappear. Tx fees would be almost non-existent once again. THE NEXT BITCOIN TX YOU MAKE, MAKE IT A SegWit TX. DOWNLOAD A SegWit COMPATIBLE WALLET AND OPEN A SegWit COMPATIBLE EXCHANGE ACCOUNT RIGHT NOW](https://www.reddit.com/r/Bitcoin/comments/7kyzxn/if_every_bitcoin_tx_was_a_SegWit_tx_today_wed/?utm_content=comments&utm_medium=user&utm_source=reddit&utm_name=frontpage) +- Day 2: [I will repost this guide daily until available solutions like Segwit & order batching are adopted, the mempool is empty once again, and transaction fees are low. You can help. Take action today](https://www.reddit.com/r/Bitcoin/comments/7l9tda/day_2_i_will_repost_this_guide_daily_until/) +- [Day 3: ARE YOU PART OF THE SOLUTION? News: Unconfirmed TX's @ 274K, more exchanges adding SegWit, Core prioritizes SegWit GUI](https://www.reddit.com/r/Bitcoin/comments/7ljpf5/day_3_i_will_repost_this_guide_daily_until/) +- [Day 4: Unconfirmed TX's @ 174K](https://www.reddit.com/r/Bitcoin/comments/7m6zd0/day_4_i_will_repost_this_guide_daily_until/) +- [Day 5: I will post this guide regularly until available solutions like SegWit & order batching are mass adopted, the mempool is empty once again, and transaction fees are low. User demand from this community can help lead to some big changes. Have you joined the /r/Bitcoin SegWit effort?](https://www.reddit.com/r/Bitcoin/comments/7mk8az/day_5_i_will_post_this_guide_regularly_until/) +- [Day 6: I will post this guide regularly until available solutions like SegWit & order batching are mass adopted, the mempool is empty once again, and tx fees are low. Refer a friend to SegWit today. There's no $10 referral offer, but you'll both get lower fees and help strengthen the BTC protocol](https://www.reddit.com/r/Bitcoin/comments/7na2xb/day_6_i_will_post_this_guide_regularly_until/) +- [Day 7: I will post this guide regularly until available solutions like SegWit & order batching are mass adopted, the mempool is empty once again, and tx fees are low. Do you want low tx fees, because this is how you get low tx fees](https://www.reddit.com/r/Bitcoin/comments/7ojt5f/day_7_i_will_post_this_guide_regularly_until/) +- [Day 8: I will post this guide regularly until available solutions like SegWit, order batching, and Lightning payment channels are mass adopted, the mempool is empty once again, and tx fees are low. BTC Core SegWit GUI coming May 1, Coinbase incompetence exposed, more exchanges deploy SegWit](https://www.reddit.com/r/Bitcoin/comments/7q44av/day_8_i_will_post_this_guide_regularly_until/) +As I see it: + +1) The yield is already starting to become attractive major foreign buyers. Japanese institutions are the biggest foreign buyers and are continuing to add more. + +investing.com/news/economic-indicators/foreigners-raise-holdings-of-us-treasuries-for-second-month-in-january-data-2447322 + +2) Fear of China selling USTs to cause chaos needs to be seen in the right context. While technically this might be possible, consider the fact that China just had a record $ 100 Billion trade surplus two months vs the US. + +To continue to keep their own currency competitive in this humongous inflow of $s, while simutaneously not buying USTs further, they inevitably have turned to buying JGBs. Going on for a while now, and also why the Japanese became the largest holders of USTs. + +https://www.cnbc.com/2020/10/14/why-china-is-buying-up-more-japanese-government-bonds.html + +So what do the gigantosaurous Japanese pension funds do in this instance of massive inflows? They buy even more USTs, which ties back into point 1. + +3) With the Fed continuing to buy monthly, a serious lack of treasuries is becoming a thing (believe it or not), expecially in the repo markets. + +Overnight rates going -ve .4 for the 2 year, for instance. [On a related note, Fed's "operation twist" might actually kill two birds with one stone. That is, restock the front end of the curve with enough bonds, and pull some out of the back end] + +4) Also, while "inflation expectations" have certainly gone up, we are yet to see proper inflation data (cpi, ppi, etc) reflect this. And given the recent Feb retail sale numbers turning out worse than expected, I'm not sure we are about to get some crazy inflation any time soon. +***EDIT2:*** *(Possibly/Possibly-Not Tinfoil) Shower Thought: Is this when Computershare put in today's bulk order for DRS'd GME? If this isn't tinfoil, are we watching the Plunge Protection Team fight DRS'd shares of the only idiosyncratic security on the market?* + +***EDIT1:*** *Does anyone know what the signal is that feeds charts out across all tracking apps & sites? And who is responsible for feeding it out (and has ability to cut if off)? If we could ID those things, maybe there's a way to watch for when the signal is up & when it's down, which could be a very telling indicator in and of itself... Knowing these pieces of info could also create an incredible opportunity to shine the bright light of accountability on this bullshit by encouraging key entities to sit up and answer for it every time it happens, the same way following the money back up to its source brings shady shit to light.* + +# = = = = = = = = = = = = = + +***\[ORIGINAL POST STARTS HERE:\]*** + +&#x200B; + +* Right when GME is going on a *just-up* 6% run, and charts across the market are unavailable... +* The S&P 500 has massive 3.474 Billion spike, then drops to 711.1 right as the chart comes back +* BUT...the S&P 500 Daily Average jumps from 3.573B to 3.614B ***and stays there?*** + +# Ok...I'm no quant, but I can tell you this with certainty: + +# Daily Average Volume DOES NOT GO UP BY 41 MILLION ON A FUCKING VOLUME DROP OF 2.7629 BILLION + +**HERE'S THE VIDEO:** + +https://reddit.com/link/t9l129/video/lcwtegxhq6m81/player + +# Here's the very moment the volume was changing back to 711.1 Million, as the chart magically becomes available again: + +[3.474 Billion volume spike still fading as 711.1 Million volume \\"correction\\" fades in ;\)](https://preview.redd.it/v9pl1o5mq6m81.png?width=1832&format=png&auto=webp&s=f43322d3751d190ba56555a813207598337be66b) +This has happened multiple times in the past few months, and every time its the same outcome. Every single time XRP has surpassed ETH as of late, it never holds for more than a few hours at best. + +That is the absolute best time to open and start loading up your XRP shorts, because in just a short while, you're going to walk away with profit as ETH always regains the number 2 spot sooner than later. + +Easy money at its best. Thanks Ripple! +💎🚀👽Martian Planetary HODL DEFENSES!!! 250 BNB PRESALE SOLD OUT IN MINUTES! $1.2 MILLION Market Cap so we have HUGE POTENTIAL!👽🚀💎 + +NO community shills like us and I can testify to that. We eat dips for breakfast🥞. We curse sellers. Most 🐳 have been cleared off and we have the core HODLERS left and that’s when you step in. We can take this back to our ALL TIME HIGH again. We out here talking, 2X 5X 10X gains after our marketing campaign. + +*Market Cap: $1.2 MILLION* + +*HOLDERS: 1,540 IN LESS THAN 24 HOURS* + +*Members:* 2,400 + +*Telegram:* [https://t.me/MartianDAO](https://t.me/MartianDAO) + +*Contract:* + +0x904d7ac5d005d16dbdc69f713d029e3c1800f8ca + +*BSC SCAN:* https://bscscan.com/token/0x904d7ac5d005d16dbdc69f713d029e3c1800f8ca + +*Twitter:* [https://twitter.com/MartianDAO](https://twitter.com/MartianDAO + + *Website:* [https://www.martiandao.net/](https://www.martiandao.net/) + +*Discord:* [https://discord.gg/7Fqv5xvx4U](https://discord.gg/7Fqv5xvx4U + +We have had a HUGE shoutout by a YouTuber which has a couple thousand views, leading our price to absolutely explode, making our HODLERS 15x since the Presale. We have plans for marketing within the next couple days so our boom is coming🚀 + +With SAFEMOON they didn’t have as many HODLERS as us at this point. They didn’t have a marketing strategy like we do. They didn’t have as many member in their Telegram as us at this point. They didn’t have as much of an increase within 24 hour release as us. This shows that this may overtake SAFEMOON in performance ESPECIALLY after our marketing campaign. + + +It’s been talked about in here before for a short minute but now the project has gone LIVE and it has sold out 250 BNB for a BRAND new project with barely any shelling it’s time to talk about it again. A cool project with a very transparent dev and a good ass looking website. Martian! + +In 24 hours the telegram has grown to 2.4K members! The growth this coin has been having so far is insane. With a 1.2 Million market cap the potential is huge. Developer has renounced ownership of the coin and the dev wallet is locked for at least 3 months so people don’t have to be scared of an dev dump. + +Martian is an fun, engaging, community-driven project. Using tokenomics tried-and-true HODLERS of MDAO will take advantage of frictionless farming token that employs 3 simple functions: Reflection + LP acquisition + burn. For each trade, the transaction is taxed at an 8% fee, which is split 2 ways. 4% is redistributed to all existing holders + 4% is split 50/50 of which half is sold by the contract into BNB whilst the other half of the MDAO tokens are paired automatically with the previously mentioned BNB and added as a liquidity pair on Pancakeswap to ensure the LP pool keeps growing. + +MDAO is a themed-based crypto game, an experimential project with the goal of building a martian army. Every two weeks Martian DAO will release an exclusive pre-sale which for the purposes of MDAO will be called missions. For example our first mission after launch will be mobilization. The pre-sales rolled out by Martian DAO are designed to be fun but high-risk, high reward projects. The goal of the projects are: + +1: To build the martian community and strengthen our army for future missions + +2: Raise capital to be used for BUYBACKS and BURN events. Team expansion and marketing aswell. Some future plans also include a launchpad for the public to create their very own missions. + +PLEASE DYOR. This is an experimental fun coin so PLEASE don’t invest more than you can lose! +Hello everyone, + +So over the past few months, I've been learning about algorithmic trading on the FOREX market during my free time, and I've been working on a project that I'm not sure if I should continue. + +I am a first-year comp-sci student at a university, so I have barely any knowledge on in inner-workings of the FOREX markets, or even like what causes the EUR/USD to climb, etc. I do have some beginner knowledge with python 3, pandas, numpy, jupyter, etc, and I have been trying to backtest a strategy I found. + +Over the past months, I've bought a Udemy course that went over how to backtest and trade FOREX strategies using pandas and those libraries, and using Oanda (and Oanda api) to trade. The course was pretty useful, I certainly used as much of it as I can, but now I'm at a cross-roads. + +I've discovered a strategy called the '3-Ducks'. In short, it uses 3 simple moving averages (60 for 4h, 60 for 1h, and 60 for 15min). If price is above both the SMAs for 4h and 1h, and the price is below the 15 min SMA, set a buy stop order at the 15 min SMA price point. Set a 30pip stop loss and take profit. (reverse for selling). For more info on this strategy, I referenced this babypips article: [https://www.babypips.com/trading/trading-system-test-3-ducks-trading-system](https://www.babypips.com/trading/trading-system-test-3-ducks-trading-system) + +So I've been 'backtesting' this strategy and trying to optimize. The 5 parameters I was trying to optimize are the 3 SMAs (optimizing between 10 and 110), the take profits and the stop losses. In the end, I ended up with the optimal values being something like 70 SMA for 4hr, 15 SMA for 1hr, 110 SMA for 15 minutes, and the ideal take profits being 35 pips and stop losses being 55 pips. + +I optimized over a 3 year time-period for the USD/CAD pair, and in total, over a 3 years period, this strategy earned around 1000 pips total. + +This strategy doesn't trade frequently. It usually seems to make a trade once every 2-3 days, and holds that trade for a few hours and either a take-profit or stop-loss hits. + +So right now, I think I can start building the actual 'algo' that trades using this strategy, and not the backtester. I then intend to host my trader bot somewhere on a server and give this bot like $400 to work with. (Oanda says that it allows leverage of 50:1 for USD/CAD, so I do intend for the bot to make $20,000 trades each time). + +So I don't have a specific question, but if you've done something like this before, or you see a fault in my plan (or in what I have already done), please I'd love to learn. Any criticism is wanted! +A year ago I watched my dad spend a lot of money helping my grandad (who's in his 90s and has little money of his own) afford home care and other 'elderly essentials'. My parents don't have a ton of money themselves, and I realised that in 15-20 years they might need my financial support (I'm an only child). + +I'd never thought much about this before, but I'd hate to be in a position where I'm not able to support them. So I started putting away £100/mo to build up a fund which, in about 15yrs will be nearly £20k - hopefully enough to take care of them, should they need support. I've called my fund The Bank *For* Mum And Dad :) + +I haven't seen this discussed and wondered how others might approach this. And if anyone has feedback on my approach (are there better ways to spend my money - on insurance products etc?) I'd be most open to it! +Any one care to share their opinion? + +I believe it will be something related with improvement of sustainability, just don't know witch sector specifically. +https://www.reddit.com/r/ethtrader/comments/8545qm/the_ethereum_rich_list_who_owns_46_of_the/ + +So here in this post, a Reddit named "GetYourAssToPluto", discovered 3 accounts with extremely similar transaction history to own a total of 4.5% of all ETH in circulation. So these 3 wallets were created after the hardfork of the DAO hack. Whats more, they all have around 1.5 Million ETH, all of them started receiving large sums of ETH at the same date, and stopped at the same date. + +Now i found out that these accounts has also: + +- Moved all funds to 3 new wallets + +- From these new 3 wallets, started to move small chunks (like 1.5 ETH, 20 ETH, 500 ETH) Into exchanges such as Kraken, Binance, Kucoin, etc. + +The only assumption is that they have been dumping. It looks like most these wallets has 0 balances now, so good news for us is that they have dumped it all? hehe. +Hello everyone, + +First post ever. I wanted to say thanks to all of those who post about their dividend income. I was able to start this year (today in fact) and can now say I will hopefully be able to get dividends. I would be curious to see what people think of QYLD? I thanks for any input/advise/or thoughts. Happy new year. +This post is not meant as a blanket criticism of dividend funds. It is for informational purposes only and to present the facts. The simulation generates an identical amount of income from DVY and SPY ($15,000 per quarter indexed to inflation). It achieves this from keeping the dividends, and selling shares if necessary. Obviously more shares are sold of SPY because the dividend is lower. + +Starting with 1 mil, by 2021 there is 1.27 million SPY and 820k DVY. The DVY seems likely to deplete at some point. SPY is not quite keeping up with inflation either, but is considerably better. + +The same sim can be run for SCHD vs SPY vs DVY since 2013. SCHD is much more competitive with SPY, but still lags slightly over the life of the fund (second link). + +Remember the simulation generates an equal amount of income from each fund quarterly ($15,000 indexed to inflation). So you could have lived off of the $5,000+ / month for 21 years and still had 1.27 million SPY today, or 820k DVY. ($5000+ because indexed to inflation) + +While historical performance is no guarantee of future success, SPY has outperformed both of these funds while providing the owner with an identical monthly. SPY remained ahead during the 2009 and 2020 bear markets. SPY also already contains many dividend stocks. Dividend funds may have their uses for active traders or those that believe dividend fund performance will improve in the future, or those that want to be "overweight" in dividend stocks because they believe their performance will be better than it has been historically. Dividend funds are also useful for those who don't want to look or think about their investments because they don't require selling shares to generate significant income. But anybody retiring from 2003-2013 would be better off today if they bought SPY, even during the 2009 bear market, and while maintaining an identical level of income ($5k/month) from their investments. + +If one wanted $6000 income/month (18k/quarter) then the DVY would nearly deplete down to 167k. The SPY depletes also, but not as much (438k). + +&#x200B; + +[https://www.portfoliovisualizer.com/backtest-portfolio?s=y&timePeriod=4&startYear=2002&firstMonth=1&endYear=2021&lastMonth=12&calendarAligned=true&includeYTD=false&initialAmount=1000000&annualOperation=2&annualAdjustment=5000&inflationAdjusted=true&annualPercentage=0.0&frequency=2&rebalanceType=1&absoluteDeviation=5.0&relativeDeviation=25.0&reinvestDividends=true&showYield=false&showFactors=false&factorModel=3&portfolioNames=false&portfolioName1=Portfolio+1&portfolioName2=Portfolio+2&portfolioName3=Portfolio+3&symbol1=DVY&allocation1\_1=100&symbol2=SPY&allocation2\_2=100](https://www.portfoliovisualizer.com/backtest-portfolio?s=y&timePeriod=4&startYear=2002&firstMonth=1&endYear=2021&lastMonth=12&calendarAligned=true&includeYTD=false&initialAmount=1000000&annualOperation=2&annualAdjustment=5000&inflationAdjusted=true&annualPercentage=0.0&frequency=2&rebalanceType=1&absoluteDeviation=5.0&relativeDeviation=25.0&reinvestDividends=true&showYield=false&showFactors=false&factorModel=3&portfolioNames=false&portfolioName1=Portfolio+1&portfolioName2=Portfolio+2&portfolioName3=Portfolio+3&symbol1=DVY&allocation1_1=100&symbol2=SPY&allocation2_2=100) + +[https://www.portfoliovisualizer.com/backtest-portfolio?s=y&timePeriod=4&startYear=2002&firstMonth=1&endYear=2021&lastMonth=12&calendarAligned=true&includeYTD=false&initialAmount=1000000&annualOperation=2&annualAdjustment=15000&inflationAdjusted=true&annualPercentage=0.0&frequency=3&rebalanceType=1&absoluteDeviation=5.0&relativeDeviation=25.0&reinvestDividends=true&showYield=false&showFactors=false&factorModel=3&portfolioNames=false&portfolioName1=Portfolio+1&portfolioName2=Portfolio+2&portfolioName3=Portfolio+3&symbol1=DVY&allocation1\_1=100&symbol2=SPY&allocation2\_2=100&symbol3=SCHD&allocation3\_3=100](https://www.portfoliovisualizer.com/backtest-portfolio?s=y&timePeriod=4&startYear=2002&firstMonth=1&endYear=2021&lastMonth=12&calendarAligned=true&includeYTD=false&initialAmount=1000000&annualOperation=2&annualAdjustment=15000&inflationAdjusted=true&annualPercentage=0.0&frequency=3&rebalanceType=1&absoluteDeviation=5.0&relativeDeviation=25.0&reinvestDividends=true&showYield=false&showFactors=false&factorModel=3&portfolioNames=false&portfolioName1=Portfolio+1&portfolioName2=Portfolio+2&portfolioName3=Portfolio+3&symbol1=DVY&allocation1_1=100&symbol2=SPY&allocation2_2=100&symbol3=SCHD&allocation3_3=100) +[(Via The Wall Street Journal)](https://www.wsj.com/articles/u-k-crisis-spills-into-u-s-junk-debt-11665440122) \-- **U.K. Crisis Spills Into U.S. Junk Debt** + +* Collateralized loan obligation prices have been hit hard by a slump in the British pound and the unwinding of U.K. pension investments +* Weakness in the CLO market may also have a knock-on effect on leveraged buyouts, including the financing for Elon Musk’s planned purchase of Twitter. + +Fallout from the crisis in U.K. financial markets has hit a faraway corner of Wall Street: the trillion-dollar market for collateralized loan obligations. + +Once a niche product, [CLOs are now widely held](https://www.wsj.com/articles/hunt-for-yield-fuels-boom-in-clos-1508673601?mod=article_inline) by investors around the world, including the British pensions, insurers and funds that got caught by [the recent crash in U.K. currency](https://www.wsj.com/articles/bank-of-england-to-buy-bonds-to-stop-crisis-spread-11664360313?mod=article_inline) and government-bond markets. Many of them sold CLO bonds to meet margin calls, sending prices of the securities tumbling well below their intrinsic value, analysts and fund managers said. + +Some U.S. investment funds rushed to snap up the bonds at what they considered incredible bargains. + +“It was the heaviest selling pressure we’ve ever seen,” said Tom Majewski, a managing partner at Eagle Point Credit Management, a Greenwich, Conn.-based investment firm specializing in CLOs. Eagle Point purchased about $80 million of CLO securities in the seven trading days ended Oct. 5, double the amount it would normally buy in a seven-day period, he said. + +In recent weeks, trading of the CLO bonds most commonly held by pensions and insurers hit its highest level since March and April of 2020, according to analysis by The Wall Street Journal of trading data reported to a U.S. regulator. CLO prices stabilized last week after falling to their lowest level since mid-2020, but the selling continued unabated. Average daily trading in the first week of October was around $1 billion, twice the daily average over the past 12 months, according to analysis by the Journal. + +The surge of activity took place while global markets—with the exception of the U.K.—were far calmer than at the outbreak of the Covid-19 pandemic. The S&P 500 lost **7%** in the past three weeks, compared with 16% in March 2020. + +Rising turmoil in CLOs shows how [fluctuations of normally placid interest rates](https://www.wsj.com/articles/britains-financial-disaster-is-a-warning-to-the-world-11664596851?mod=article_inline) in developed economies are rattling financial markets in unexpected ways. Forced selling by U.K. investors has also hit corporate bonds, stocks, mortgage-backed securities and asset-backed securities, investors and analysts said. + +CLOs are a sliver of assets held by U.K. pension funds that try to guard against changes in interest rates through so-called liability-driven investment strategies. Con Keating, head of research at Brighton Rock Group, said he estimated them to be a maximum of 5% of assets under management. + +Pensions and others had invested £1.6 trillion ($1.8 trillion) in LDIs by 2021, data from trade group The Investment Association show. In the relatively small market for CLOs, sales a percentage of that size have the ability to shift prices, unlike in larger markets for government bonds and stocks. + +Weakness in the CLO market may also have a knock-on effect on leveraged buyouts—a lucrative business for Wall Street—because the investment vehicles purchase about 60% of the loans backing the deals. + +CLOs are investment vehicles primarily run by alternative-asset managers like [Blackstone](https://www.wsj.com/market-data/quotes/BX) Inc. and [Carlyle Group](https://www.wsj.com/market-data/quotes/CG) Inc. The firms sell bonds and stocks to outside investors, then use the money to buy junk-rated corporate loans, which pay interest that is redistributed to holders of the CLO bonds and shares. Investors piled into CLOs over the past decade, [sparking worry of excessive risk taking](https://www.wsj.com/articles/financial-engineering-made-risky-loans-seem-safe-now-they-face-a-huge-test-11584702000?mod=article_inline), but they held up in the 2020 market panic, [making them even more popular](https://www.wsj.com/articles/clos-wrap-up-record-year-11640637572?mod=article_inline). + +Most CLOs issue bonds of different rank: Those with triple-A credit ratings get paid first, while junior bonds rated as low as double-B wait in line to receive payment. Insurers and pensions favor the higher-ranked CLO bonds because their credit ratings satisfy regulatory guidelines and because they pay higher yields than corporate and mortgage bonds with comparable investment-grade ratings. + +Heavy selling of CLOs started the week ended Sept. 23, when the [pound hit a 37-year low](https://www.wsj.com/articles/does-the-u-k-really-depend-on-the-kindness-of-strangers-11663851588?mod=article_inline), forcing U.K. investors that use derivatives to hedge foreign-exchange risk to sell assets to cover losses, said Wayne Dahl, a managing director at Los Angeles-based Oaktree Capital. The deluge intensified the following week, when prices of U.K. government bonds tumbled, triggering margin calls on LDIs, held by pension funds. + +“That generated a ton of emails internally,” Mr. Dahl said. “We’ve definitely been buyers.” + +About $13 billion of investment-grade CLO bond trades were reported in the U.S. during the past three weeks, according to analysis by the Journal of a database maintained by Interactive Data Corp. and the Financial Industry Regulatory Authority. That is the highest volume since a three-week stretch in March and April 2020 when about $15 billion changed hands. + +CLO prices have dropped to their lowest levels since May of 2020, according to an index of the securities operated by Palmer Square Capital Management. The firm’s investment-grade CLO bond index traded at 88.7 last week, down 4% since the start of September. + +Some bond prices slipped even further, particularly those of European CLOs that were heavily owned by U.K. investors. The double-A-rated bond of a euro-denominated CLO managed by Investcorp Credit Management dropped about 5% in late September to roughly 90 cents on the dollar, according to data from KopenTech LLC. A spokeswoman for Investcorp declined to comment. + +Falling CLO bond prices make it more expensive for CLO managers to borrow money to launch investment pools, reducing new issuance. Fewer new CLOs means fewer buyers for the “leveraged loans” investment banks sell to help private-equity firms fund their takeovers at a time when debt investors are already worried about a potential recession.  + +Banks that financed Vista Equity Partners and Elliott Management Corp.’s $16.5 billion buyout of Citrix Systems [took a roughly $500 million loss](https://www.wsj.com/articles/citrix-debt-deal-prices-with-large-losses-for-banks-11663769143?mod=article_inline) on related loans sold in September amid weak investor demand. The market will face an even bigger test when banks [try to place $6.5 billion of loans](https://www.wsj.com/articles/elon-musks-revived-twitter-deal-could-saddle-banks-with-big-losses-11665069334?mod=article_inline) for Elon Musk’s planned $44 billion purchase of [Twitter](https://www.wsj.com/market-data/quotes/TWTR) Inc. + +“From a CLO manager’s perspective, the selloff isn’t helpful,” said Lauren Basmadjian, a partner at the [Carlyle Group](https://www.wsj.com/market-data/quotes/CG), one of the world’s largest CLO operators. “What our market needs is stability to issue CLOs.”  + +But Carlyle also invests in CLO bonds and from that standpoint, the forced selling by U.K. institutions is a windfall, Ms. Basmadjian said: “We’ve definitely been adding exposure over the last month.” +I’ve had and loved my Discover card for six years. Never had an issue before. + +Last week, I noticed three almost $100 charges ($99, $99.80, $99.85) from gas stations in a state I’ve never been to. I still have my card and never lost it. I called Discover to let them know I did not authorize those charges. They were helpful and let me know I am not liable for those charges, to stop using my current card, and that they’d send me another card. + +Yesterday, I got a Mint notification that my credit score had dropped from ~780 to 710, because Discover closed my longest line of credit, and I went from an average 4 year history to under 1. + +I plan on trying to call back tomorrow to ask to reopen the account but issue a different card. Is this possible or is there something else I can do? I may need that credit to buy a home in a few years. If I need to rebuild I plan on applying for a few cards now so I won’t take another average age hit in the future. + +I don’t think I should have to take a major credit hit because of a fraud that wasn’t my fault. Any help would be appreciated!! + +TL;DR - Discover closed my account and credit scores dropped because of the updated account history factor. What can I do to raise it again? +Hey all. If this isn't the right sub, please let me know! + +I have been a member at crunch for a little under a year. The gym is fine, whatever. When it came time to pay my annual fee (a few months ago), I noticed they charged me 49.95 once and then 49.95 AGAIN the following month. I called my home club, and they said "oh, you're right, you were double charged, I'll request a refund." + +I didn't get that refund for about 3 weeks, because they kept saying it's "in process." SO fine, I got my refund. But if I hadn't checked my statement, I would never have known. + +Now to today, I am seeing my regular monthly 9.95 monthly membership fee TWICE two days apart. So no way it's for two different months, that just makes no sense. Isn't this stuff automated??? Are they doing this on purpose hoping I won't notice?? + +Anyway, my question is, besides asking for a refund, is there anything else I can do? It can't be ok that they keep pulling $$$ out of my bank account that I DO NOT OWE. I didn't sign up for this ..... + +Side note, yes my bank account is linked because a few months ago they were giving away Amazon gift cards to people who linked their bank accounts... big mistake? + +tl;dr - Crunch keeps doublecharging me. Do we just let them get away with this??? What can I do besides ask for a refund (and obviously cancel)?? +Here's a really simple method to estimate the amount of shares that retail owns in GME, in the [spirit of a Fermi estimate](https://www.lesswrong.com/posts/PsEppdvgRisz5xAHG/fermi-estimates). Summed with [the 13f/g filings](http://finra-markets.morningstar.com/MarketData/EquityOptions/detail.jsp?query=14%3A0P000002CH&sdkVersion=2.59.0), this gives a lower bound on the total number of shares currently in circulation as well as the short interest. Therefore, figuring this out would be great to help convince skeptics and shut down shills/FUD. + +The general approach I take in this document is to try to estimate the fraction of all shares held by retail from a few different sources. From this we can then divide the known institutional holdings to get some estimate of how big retail is. + +# Retail market share according to FT + +[According to the Financial Times](https://archive.is/drLS7), retail market share has been growing significantly in the last 2 years and is now the second largest source of all trading volume after high-frequency trading (HFT). Based on their chart, I got the following numbers + +| | Market Share % | +|--:|:---| +| HFT | 45 | +| Retail | 23 | +| Quants | 13 | +| Hedge funds | 8 | +| Banks | 5 | +| Mutual Funds | 6 | + +[Here's the same data in a pie chart:](https://docs.google.com/spreadsheets/d/e/2PACX-1vSKfRL8EeXpZoCIe3ITFCsuHga-0AEAnPajpc6W8HqHMye7-INtn1MLDv5RShMr3HpIDCNAA34LeZ7I/pubchart?oid=1076768830&format=interactive) + +https://imgur.com/a/nkSdlG6 + +But the market share with HFTs is misleading; while they make a large volume of trades HFTs don't hold their positions very long. [According to Deustche Bank,](https://web.archive.org/web/20170529002243/http://www.dbresearch.com/PROD/DBR_INTERNET_EN-PROD/PROD0000000000269468.pdf) + +> Typically, a high frequency trader would not hold a position open for more than a few seconds. Empirical evidence reveals that the average U.S. stock is held for 22 seconds. + +When we exclude HFTs, **retail is the biggest whale in the stock market** + +| | Market Share % (Excl HFT) | +|--:|:--| +| Retail | 41.8 | +| Quants | 23.6 | +| Hedge funds | 14.5 | +| Banks | 9.1 | +| Mutual Funds | 10.9 | + +[Again, in a pie chart:](https://docs.google.com/spreadsheets/d/e/2PACX-1vSKfRL8EeXpZoCIe3ITFCsuHga-0AEAnPajpc6W8HqHMye7-INtn1MLDv5RShMr3HpIDCNAA34LeZ7I/pubchart?oid=1176366613&format=interactive) + +https://imgur.com/a/2MujZuS + +This suggests that a typical security has **40% retail ownership on average**. + +# Retail market share according to Fidelity + +Since I don't have a Bloomberg terminal, we can check the 40% estimate using Fidelity's ownership data. [Here's AAPL](https://eresearch.fidelity.com/eresearch/evaluate/fundamentals/ownership.jhtml?stockspage=ownership&symbols=AAPL): + +https://imgur.com/a/NOgksLG + +My assumption is that "Other" is mostly retail implying AAPL has about 38.2% retail ownership. + I collated this data for a bunch of other types tickers of tickers below; + +## Mainstream stocks + +First, I looked at some boring mainstream stocks to get a baseline estimate. These are generally safe investments that slowly go up-and-to-the-right over time: + +| Ticker | Other % | +|--------:|:--------| +| [AAPL](https://eresearch.fidelity.com/eresearch/evaluate/fundamentals/ownership.jhtml?stockspage=ownership&symbols=AAPL) | 38.2 | +| [WMT](https://eresearch.fidelity.com/eresearch/evaluate/fundamentals/ownership.jhtml?stockspage=ownership&symbols=WMT) | 31.6 | +| [SPY](https://eresearch.fidelity.com/eresearch/evaluate/fundamentals/ownership.jhtml?stockspage=ownership&symbols=SPY) | 36.5 | + +To me around 1/3 retail ownership seems consistent with FT's numbers. + +## Cult "Meme" stocks + +These are companies with solid fundamentals and a great story that have lots of traction on social media and tons of retail buying. [They hit the top of Fidelity's top orders every day](https://eresearch.fidelity.com/eresearch/gotoBL/fidelityTopOrders.jhtml) and are popular on WSB: + +| Ticker | Other % | +|--------:|:--------| +| [TSLA](https://eresearch.fidelity.com/eresearch/evaluate/fundamentals/ownership.jhtml?stockspage=ownership&symbols=TSLA) | 52.1 | +| [PLTR](https://eresearch.fidelity.com/eresearch/evaluate/fundamentals/ownership.jhtml?stockspage=ownership&symbols=PLTR) | 73.9 | +| [BB](https://eresearch.fidelity.com/eresearch/evaluate/fundamentals/ownership.jhtml?stockspage=ownership&symbols=BB) | 54.7 | + + +Again we see numbers between 50-75%, which suggests above average levels of retail buy in. + +## Pump and dumps + +And then there's the pump&dumps. We've seen lots of these hit WSB rapid fire since the rise of GME in some futile effort to break retail. You know what they are: weed, silver, ... All of them pumped to high hell by the Motley Shill and summarily dumped on the poor fools greedy and dumb enough to buy in: + + +| Ticker | Other % | +|--------:|:--------| +| [SNDL](https://eresearch.fidelity.com/eresearch/evaluate/fundamentals/ownership.jhtml?stockspage=ownership&symbols=SNDL) | 99.9 | +| [PSLV](https://eresearch.fidelity.com/eresearch/evaluate/fundamentals/ownership.jhtml?stockspage=ownership&symbols=PSLV) | 89.7 | +| [NOK](https://eresearch.fidelity.com/eresearch/evaluate/fundamentals/ownership.jhtml?stockspage=ownership&symbols=SNDL) | 95.7 | + +*GUH!* those are some heavy bags. SNDL doesn't even have a board any more! At 99% retail ownership, it's just worthless paper with no insiders or institutions or connection to a real company. Fuck the WSB mods, the Motley Shill and Robinhood for pushing this garbage on people. + +## AMC, KOSS and GME + +Finally there's the big 3. I grouped all of these together because they are the same 3 securities [implicated in the Apex Cartel price fixing conspiracy](https://old.reddit.com/r/Superstonk/comments/mq4gfi/sec_filing_merger_with_brokarage_detailing/). They've all traded more-or-less the same since January, though AMC has recently begun to break out of the pattern: + +https://imgur.com/a/q96E6Wr + +Isn't it strange that our beloved GME trades exactly the same dip-for-dip, peak-for-peak as [a company that makes mediocre headphones](https://www.koss.com/)? + + +| Ticker | Other % | +|--------:|:--------| +| [AMC](https://eresearch.fidelity.com/eresearch/evaluate/fundamentals/ownership.jhtml?stockspage=ownership&symbols=AMC) | 79.2 | +| [KOSS](https://eresearch.fidelity.com/eresearch/evaluate/fundamentals/ownership.jhtml?stockspage=ownership&symbols=KOSS) | 68.3 | +| [**GME**](https://eresearch.fidelity.com/eresearch/evaluate/fundamentals/ownership.jhtml?stockspage=ownership&symbols=GME) | **0.1** | + +Given the extreme interest, no surprise AMC is at 79% and KOSS around 68%. **BUT WHAT THE FUCK IS GOING ON WITH GME**?! 0.1% of GME is only 70000 shares. **DFV ALONE HAS MORE THAN TWICE THAT MUCH**. Clearly this number is totally wrong. + +# Estimate of the REAL retail ownership + +Given the fraction of all shares owned by retail and the size of all institutional holdings we can compute the number of synthetic shares as a % of the total shares outstanding. Here's a quick table I put together for reference: + +https://imgur.com/a/wNMYBHf + +According to the [latest Bloomberg terminal drop](https://old.reddit.com/r/Superstonk/comments/mwdqyh/22042021_gme_bloomberg_terminal_information/), institutions have at least 110% of all shares outstanding. So: + +* If retail has 40% (like AAPL), then 83% of outstanding shares are short. **58.1 million shorts in total** +* If retail has 50% (like TSLA), then 120% of outstanding shares are short. **84 million shorts in total** +* If retail has 70% (like AMC), then 267% of outstanding shares are short. **186.9 million shorts in total** +* ...and if retail has 80%, then *450% of outstanding shares are short*. **315 million shorts will need to cover** + +Conclusion: **Retail is leviathan**. And shorts r fuk + +---- + +**EDIT** Fixed some typos. For clarification the calculation in that table is purely mathematical. We have two independent variables: + +* I_o = % of *outstanding* shares held by institutions +* R_c = % of *circulating* shares held by retail + +Note that circulating and outstanding shares are not the same thing due to shorts or "synthetic longs". We want to compute the number of these shorts, which is (circulating shares) - (outstanding shares). I assume retail ownership is linearly proportional to institutional ownership. We can solve for the size of retail holdings in outstanding shares, R_o, starting from the definition of R_c + +R_c = R_o / ( R_o + I_o ) + +Giving + +R_o = R_c * I_o / ( 1 - R_c ) + +To get the amount of shorts as a % of shares outstanding we can sum R_o and I_o then subtract 100%. +Some of you may remember that last month I posted about C69 cycle and it got to tops and then I deleted it in less than 24 hours because I didnt want it too much exposed because everytime we find out about something they crush it. + +# FIRST STAR + +Lets see the C69 dates again in the next graph. + + +https://preview.redd.it/11iliimm6at91.png?width=1794&format=png&auto=webp&s=a18594747df310159d41f0dc64b451c53369baa8 + +As you can see its not always 69 days. Twice it was 70, once 67 and once 68 if you mark either volume spikes or price spikes (check arrows at bottom). This happened 6 times in a row. You know the odds of that being a random event? Almost impossible. + +Also the big green dildo was not always exactly on the starting date of the cycle. November and March it was 2 days after. I know this cycle was posted and went to the top again and since nothing happened on 10th October the naysayers showed up to the party. + +By the way, it was not supposed to start on the 10th but the 11th of October. I know you felt something different about today's price action. SP500 down big time and GME up almost 5% at one point. + +&#x200B; + +# SECOND STAR + +RC breaks a 48 consecutive day twitter silence on 11th October precisely on the date of C69. What are the odds? Cohencidence? + +&#x200B; + +https://preview.redd.it/z1jg2nfe8at91.png?width=537&format=png&auto=webp&s=bd37e5246fbeb1dd196ddd3423e7f45348511f81 + +https://preview.redd.it/1ssqu1x68at91.png?width=602&format=png&auto=webp&s=138f8d7c9d5e0a65afe80e9e91db19f0edffc6c7 + +# THIRD STAR + +EDIT1: First RC tweeted about sex. You know what that means right? Sex tweets we go up and shit tweets we go down? + +RC tweeted this on May 25th on top of a runup and the following trading day on 28th we went up 25% + +https://preview.redd.it/6ecp8d6v8at91.png?width=600&format=png&auto=webp&s=e326801a326389f3231663c0c020decf2f569afd + +Moon will occult Uranus october 11 - 12 [Link to this article](https://earthsky.org/tonight/moon-occults-uranus-october-11-12-2022/) + +Just another Cohen-cidence + +https://preview.redd.it/tzu7pc9f9at91.png?width=617&format=png&auto=webp&s=764c3af31559e933f95e1c47360ecadcf5e7be33 + +# FOURTH STAR + +On top of all the above we have a 3.8 Milly buy in AH + +https://preview.redd.it/u0lwybpdbat91.png?width=640&format=png&auto=webp&s=89db20c3060a384e886225f7fd51bb0c39af9286 + +**My question to you is:** + +**What are the odds of RC breaking the silence on C69 day after 48 days of silence and on that same day Moon occulting Uranus and 3.8M buy in on AH all in the same day** + +**Do you believe in Cohencidences?** + +&#x200B; + +# Final Remarks + +Also VIX at 34 and SP500 at lowest point in the year right before PPI and CPI and FED minutes and 3rd GDP advance estimate on 27th. If bad news we would have panic selling and the market would drag GME down. But I believe FED will have to be dovish to prevent that because they want a zigzag market and not a straight down market. They still have a lot of shit to unload and they dont want to sell at a big loss. Either way the volatility will be very high because we are at a breaking point in the markets and SP500 is just above 200 WMA. + +&#x200B; + +Thanks for coming to my TED talk +Guten Morgen to this global band of Apes! 👋🦍 + +I'm a little short on time to write today, so I'll have to keep today's message brief. +The past week has been quite the ride, but there is absolutely no reason to believe that anything has changed for the worse. +The SHFs are hurting, Apes continue to DRS, and the MOASS is inevitable. +Each day that they suppress the price and stall costs them dearly. +Citadel is desperate enough that they took $600m in loans at a high interest rate to get them through just a little longer. + +We are in exciting times, and I cannot wait to see what happens next. + +Today is Tuesday, August 23rd, and you know what that means! Join other apes around the world to watch infrequent updates from the German markets! + +###🚀 Buckle Up! 🚀 +*** + + +- 🟩 120 minutes in: **$34.84 / 34,84 €** *(volume: 2142)* +- 🟩 115 minutes in: $34.69 / 34,69 € *(volume: 900)* +- 🟥 110 minutes in: $34.67 / 34,66 € *(volume: 887)* +- ⬜ 105 minutes in: $34.71 / 34,71 € *(volume: 887)* +- 🟥 100 minutes in: $34.71 / 34,71 € *(volume: 871)* +- 🟩 95 minutes in: $35.00 / 35,00 € *(volume: 842)* +- 🟥 90 minutes in: $35.00 / 35,00 € *(volume: 819)* +- ⬜ 85 minutes in: $35.00 / 35,00 € *(volume: 767)* +- ⬜ 80 minutes in: $35.00 / 35,00 € *(volume: 717)* +- ⬜ 75 minutes in: $35.00 / 35,00 € *(volume: 717)* +- ⬜ 70 minutes in: $35.00 / 35,00 € *(volume: 717)* +- ⬜ 65 minutes in: $35.00 / 35,00 € *(volume: 705)* +- ⬜ 60 minutes in: $35.00 / 35,00 € *(volume: 689)* +- ⬜ 55 minutes in: $35.00 / 35,00 € *(volume: 682)* +- ⬜ 50 minutes in: $35.00 / 35,00 € *(volume: 682)* +- ⬜ 45 minutes in: $35.00 / 35,00 € *(volume: 518)* +- ⬜ 40 minutes in: $35.00 / 35,00 € *(volume: 372)* +- ⬜ 35 minutes in: $35.00 / 35,00 € *(volume: 342)* +- ⬜ 30 minutes in: $35.00 / 35,00 € *(volume: 325)* +- ⬜ 25 minutes in: $35.00 / 35,00 € *(volume: 304)* +- ⬜ 20 minutes in: $35.00 / 35,00 € *(volume: 304)* +- ⬜ 15 minutes in: $35.00 / 35,00 € *(volume: 222)* +- ⬜ 10 minutes in: $35.00 / 35,00 € *(volume: 122)* +- ⬜ 5 minutes in: $35.00 / 35,00 € *(volume: 122)* +- 🟩 0 minutes in: $35.00 / 35,00 € *(volume: 39)* +- 🟥 US close price: $34.50 / 34,50 € *($34.79 / 34,79 € after-hours)* + + +*** +FAQ: I'm capturing current price and volume data from German exchanges and converting to USD. Today's euro -> USD conversion ratio is 1.0001. I programmed a tool that assists me in fetching this data and updating the post. If you'd like to check current prices directly, you can check [Lang & Schwarz](https://www.ls-tc.de/de/aktie/gamestop-aktie) or [TradeGate](https://www.tradegate.de/orderbuch.php?isin=US36467W1099) + +Diamantenhände isn't simply a thread on Superstonk, it's a community that gathers daily to represent the many corners of this world who love this stock. Many thanks to the originator of the series, DerGurkenraspler, who we wish well. We all love seeing the energy that people represent their varied homelands. Show your flags, share some culture, and unite around GME! +Hi all + +A week back I placed a redemption request and I still don’t see funds credited to my account. I am unable to find how long the redemption process takes for this fund. Any personal experience or guidance is much appreciated + +Thank you in advance +* Which bank should you choose for savings account or fixed deposits? +* Should you invest in mutual funds via MFUtilities, Kuvera, Groww, Invezta, FundsIndia or some other platform? +* Do you want to know which brokerage to use? Zerodha? Sharekhan? HDFC Securities? Kotak? ICICI Securities? Interactive Brokers? +* What has been your experience with mutual fund houses? +* Which insurer to purchase insurance from? +* Did you find a robo-advisory service useful? +* Which portfolio tracking app should I use? + +You can discuss the services and products offered by the banking and financial industry here. Reviews posted here can be relied upon by newcomers to evaluate customer experience. + +Please confine the thread discussion only to reviews or requests for reviews of products and services. For advice regarding portfolio allocation, the bi-weekly advice thread is recommended; discussion will be moderated to ensure that older threads (once archived) provide sufficient information regarding products and services to the greatest possible extent. +This a request to the FOIA activists. Unfortunately it’s not me, but the request should be very specific. + +Any communication where “squeeze” has been used. We should not be asking this request in any context to the current GME situation, but rather has the SEC ever said something as ridiculously unlawful that they would not enforce the rules because it may trigger a “short squeeze.” + +GG may be a good guy, but this is unacceptable behavior past or current leadership. +Just a heads up to check your reports. I checked my husband’s report today and found a hard inquiry from the federal government “US SM BUS ADMIN ODA”. After a quick search here I have seen quite a few posts about fraudulent loans being opened. My husband called. This loan was in the process of going through and had been approved for $49,000! My husband has less than stellar credit. They used an old address that we haven’t lived at for more than 10 years. This is the US government’s small business COVID relief loan. We have been able to handle it so far but wanted to put out the word for anyone else. + +Definitely check your reports! I’ve been checking his every couple of weeks because we are in the process of disputing something and this was not on there 2 weeks ago. +https://www.reddit.com/r/Superstonk/comments/mwgpyp/filing_through_this_proxy_and_we_got_a_non/?utm_medium=android_app&utm_source=share + +According to this post stating that 16 million are publically available, DFV owns 1.25% of the available float. + +The rest of us apes probably own the other 98.75%, plus another 1000% on top of that. +Not sure if this is the right place for this or what exactly I should flair this as, but here's the rundown of the situation: + +A week ago I received an email from PayPal that said suspicious activity had been detected on my account. (**ETA: I am aware of common phishing tactics. I did not log on to PayPal through this email. I saw the notification about the suspicious activity and logged on to my PayPal account through an independent browser.**) I log on to PayPal and see a $7,500 charge to a jeweler in Germany (I'm from the US, have never been to Germany, sent money to Germany, or purchased anything from Germany). I immediately reported this as an unauthorized transaction and called PayPal. They told me that if it was unauthorized, the full amount would be refunded to me. + +I then called my bank to see if they could freeze my account or deny this charge coming through, since at this point it hadn't even shown up in my account transactions. They said they could not freeze my account, but that if the charge did come through that all I would have to do is dispute the charge. +I assumed there was no way that PayPal would deem this as an authorized charge, so I didn't push hard on the freezing of my account and then just waited. + +The next morning my case had been resolved and PayPal decided it was authorized. I called again and told them this was an unauthorized transaction. I told them, hey, you're the ones who flagged this transaction as suspicious, I told you it was unauthorized, now you're telling me it's authorized, how can this possibly be? They basically told me that since it was likely a breach on my computer (it absolutely was not) and not someone logging in from another location that I was essentially fucked and they wouldn't do anything for me. + +I called my bank and asked them to contest the charge. They told me they couldn't do that until the charge actually went through, and that freezing the account would not stop the pending charge from going through. + +(**ETA: since a lot of you are saying "you should have physically gone to your bank", it was at this point I did exactly that. I told the teller the situation, told them I wanted to freeze and/or completely close my account, and they told me they could not do that, that the funds for the charge were already on hold**) + +I called PayPal again the next day. They told me my only other option was to declare my item as "not delivered", and that I would have to hope the merchant who received my $7,500 didn't have the proper info for the order (tracking information and whatnot to prove they had actually shipped the merchandise). + +PayPal told me I should contact the merchant. I looked up the merchant and it seems to be a fake number. I assume the merchant is completely fake, as the merchandise I supposedly bought was listed simply as "thank you for your purchase". + +I called my bank once again and asked them to contest the charge. + +I called PayPal again and explained to them my suspicion that the company is fake. Regardless, the address that the item is being shipped to is not mine, so wouldn't the merchant just be able to fake the information to claim my item had been delivered? Both the merchant and the delivery address are in Germany. PayPal guaranteed me that if they are not a legitimate company and this is not a legitimate transaction they will not be able to provide the necessary information and I will get my money back, but the fact that this farce has played out so long makes me skeptical. + +The company has provided them with the information they asked for, and now I have been told by both my bank and PayPal that I just have to wait while they review the case. My bank is expected to deliver their decision on the charge on the 6th (via mail, for some reason) and PayPal expects to have a response by the 16th. I have very little faith that PayPal will resolve this matter in my favor, and I fear that my bank does not plan on helping me either. + +My question is, what recourse do I have here? Am I just out $7,500 because PayPal fucking sucks? Should I be filing a police report? Would that even do anything? Any advice is appreciated + +(**Edit: when I said "any advice appreciated" I really meant in terms of getting my money back... yes, I fucked up. I shouldn't have had my bank account linked to PayPal, I should've had two-factor authentication enabled, I shouldn't have been using PayPal in the first place... I get it**) +Generally speaking at least. I'm genuinely curious about the reason behind this. My rent a year ago was about 1200/month for the 1 bedroom apartment I live in in Austin, TX, which back in May 2020 was kind of on the higher side of average at the time. I recently re-signed my lease and it shot up to over 1500 a month and prices just seem to be going up all over. If i'd really wanted to, I could have found myself a decent 1 bedroom for about 900 a month in Austin this time last year but now thats completely impossible. + +At this point I'm seriously wondering why I wouldn't just take my savings and put it into a down payment on a whole house. Mortgage payments would be less or equal to what I'm paying for this crap apartment with obnoxious inconsiderate neighbors. + +Seriously, people are paying upwards of 2500 for a 2 bedroom apartment. I find that absurd, I wouldn't care if the place had a jacuzzi right in the middle of the living room, I simply cannot justify spending THAT much to live in a cramped, wall-to-wall, floor-to-ceiling setting of any kind. Am I the only one who thinks rent prices have gotten absolutely insane? +Guten Morgen to this global band of Apes! 👋🦍 + +Well Apes, last week was the most interesting in quite a while, hitting several very important beats along the way. We saw what $GME can do in only a few minutes when momentum hits just right, as well as what the SHFs can still do when their margin limits are exceeded and they need to manipulate it down quickly. We saw even more bullish NFT hints, as well as a total bust of a hype-date. We saw Apes organizing to give back. + +All of it is entertaining and exciting, but it is nothing compared to how entertaining and exciting the true start of the MOASS will be. We know that it is inevitable, and that DRS is the way to bring that day sooner. It is clear to me that this band of Apes has the diamantenhände needed to reach it. As we continue to await the MOASS, let's appreciate these days along the way and those who stand with us. You are an important part of this movement and I am proud to stand with you. + +Let's see this through. + +Today is Monday, November 8th, and you know what that means! Join other apes around the world to watch infrequent updates from the German markets! + +###🚀 Buckle Up! 🚀 +*** + + +- 🟩 120 minutes in: **$212.93 / 184,85 €** *(volume: 1995)* +- 🟩 115 minutes in: $212.68 / 184,64 € *(volume: 1980)* +- 🟥 110 minutes in: $212.67 / 184,62 € *(volume: 1976)* +- 🟩 105 minutes in: $212.76 / 184,70 € *(volume: 1807)* +- 🟩 100 minutes in: $212.31 / 184,31 € *(volume: 1784)* +- 🟩 95 minutes in: $211.82 / 183,89 € *(volume: 1661)* +- 🟩 90 minutes in: $210.98 / 183,16 € *(volume: 1343)* +- 🟥 85 minutes in: $210.96 / 183,14 € *(volume: 1323)* +- 🟥 80 minutes in: $211.98 / 184,03 € *(volume: 1250)* +- 🟥 75 minutes in: $212.01 / 184,05 € *(volume: 1241)* +- 🟥 70 minutes in: $212.04 / 184,07 € *(volume: 1141)* +- 🟩 65 minutes in: $212.60 / 184,56 € *(volume: 983)* +- 🟥 60 minutes in: $212.24 / 184,25 € *(volume: 965)* +- 🟥 55 minutes in: $212.32 / 184,32 € *(volume: 961)* +- ⬜ 50 minutes in: $212.35 / 184,35 € *(volume: 890)* +- 🟥 45 minutes in: $212.35 / 184,35 € *(volume: 872)* +- 🟩 40 minutes in: $212.40 / 184,39 € *(volume: 865)* +- 🟩 35 minutes in: $212.27 / 184,28 € *(volume: 846)* +- 🟩 30 minutes in: $212.15 / 184,18 € *(volume: 812)* +- ⬜ 25 minutes in: $212.14 / 184,16 € *(volume: 724)* +- 🟩 20 minutes in: $212.14 / 184,16 € *(volume: 639)* +- 🟩 15 minutes in: $212.14 / 184,16 € *(volume: 617)* +- 🟩 10 minutes in: $212.04 / 184,07 € *(volume: 463)* +- 🟩 5 minutes in: $211.98 / 184,02 € *(volume: 395)* +- 🟥 0 minutes in: $211.94 / 183,99 € *(volume: 200)* +- 🟥 US close price: $213.25 / 185,13 € *($212.00 / 184,04 € after-hours)* + + +*** +FAQ: I'm capturing current price and volume data from German exchanges and converting to USD. Today's euro -> USD conversion ratio is 1.1519. I programmed a tool that assists me in fetching this data and updating the post. If you'd like to check current prices directly, you can check [Lang & Schwarz](https://www.ls-tc.de/de/aktie/gamestop-aktie) or [TradeGate](https://www.tradegate.de/orderbuch.php?isin=US36467W1099) + +Diamantenhände isn't simply a thread on Superstonk, it's a community that gathers daily to represent the many corners of this world who love this stock. Many thanks to the originator of the series, DerGurkenraspler, who we wish well. We all love seeing the energy that people represent their varied homelands. Show your flags, share some culture, and unite around GME! +Recently Jerome Powell signaled more aggressive rate hikes than previously anticipated. + +Simply put, the gasoline that powers REITs is debt. They need to borrow money to buy properties to rent out to generate income to pay dividends and grow. + +As interest rates go up, REITs will either have to borrow less, or pay more to borrow the same amount, thus increasing their debt. Furthermore, if during this time, the interest rate hikes cause the economy and inflation to slow down (as the fed is hoping), then the rents REITs collect will not increase in tandem with the new, higher, cost of borrowing money. + +On the other hand, REITs that have high occupancy rates, reliable tenants, and function in an in demand industry, will have continued cash flow, even if they have to cut back on borrowing and expanding. + +What are your thoughts? Are hard times about to befall REITs, or is this their time to shine? +I found this stock [(ISEE) with a really high IV](https://alphapursuits.com/isee-the-wheel-strategy-trade-idea/) and selling $5 Put could net a 10%/ month return at the time. + +The market has dropped and now it's more than 20%/month. + +Is this still a good idea for the Wheel? + +https://preview.redd.it/ti0h8vy6o9k91.png?width=1026&format=png&auto=webp&s=96a0cddcc8982871a12720ed7c1b81eff16f93ff +Anyone here use Unusual Whales for trade indicators, or any other type of tool to detect outlier options movements? If so, what has your experience been like? +Well, I have been reading quite a lot about INVITs and REITs and own some units in the Indigrid Invit but I just needed to understand somethings. So as of current price levels, the Indigrid(having a network of transmission lines and serving state government electricity boards), sponsored by Sterlite Power and KKR, is trading at around Rs. 90 with having guaranteed cash flows for around next 35 years and having a Distribution per Unit(DPU) of around 12/unit which roughly means around 13-14% yield. + +On the other hand, there is a REIT like Embassy Office Parks REIT, sponsored by Embassy and Blackstone and has multiple office parks in Bangalore and Pune, which is trading at 370/unit with a payout of 25/unit which translates to average 5-7% yield. + +I know these are two very different asset classes but personally I see a higher risk existing in the real estate sector in the near term as well as long term. Plus average age of revenue contracts of the INVIT is much longer(35 years in comparison to 7 years of REIT). So what gives? Why such disparity in the market? + +I am sorry if I come out as ignorant of certain issues but I really want to understand this. +Many of us have assumed that the MOASS will be paralleled by a broad and significant market downturn. Given that the SEC, FED, DTCC and other agencies and institutions know roughly how GME may play out, it would not be surprising to see the FED telegraph the MOASS (and accompanying market correction/crash) in advance. Thus, I have been keeping an eye out for signals from the FED. + +Let me assume for a minute that the quotes CNBC pulled for this article are accurate: + +https://www.cnbc.com/amp/2021/05/06/fed-warns-of-possible-significant-declines-in-stocks-as-valuations-climb.html + +These would be statements by the FED in their semiannual Financial Stability Report. I haven’t had a chance to find the original source. **Edit see source link below**. 🐻 Bear with me. Here are some quotes from the FED: + +“High asset prices in part reflect the continued low level of Treasury yields. However, valuations for some assets are elevated relative to historical norms even when using measures that account for Treasury yields," the report states. "In this setting, asset prices may be vulnerable to significant declines should risk appetite fall." + +This is bearish for the markets. + +“In an accompanying statement, Fed Governor Lael Brainard said the situation bears watching and points out the importance of making sure the system has proper safeguards. She specifically mentioned having banks increase their capital requirements during economic expansions as a buffer against downturns.” + +Ok....warning banks about capital requirements/liquidity.... + +“Vulnerabilities associated with elevated risk appetite are rising. Valuations across a range of asset classes have continued to rise from levels that were already elevated late last year," Brainard said. "The +combination of stretched valuations with very high levels of corporate indebtedness bear watching because of the potential to amplify the effects of a re-pricing event." + +Ok now basically straight up warning of a “re-pricing event”. I think they mean correction? The above is a clear warning about “corporate indebtedness” (read: LEVERAGE). Don’t believe me? + +“The Fed goes into a few specific scenarios that show potential risks to the system. It specifically talked about the Archegos Capital Management episode, when the firm could not meet margin calls, causing several large banks to take big losses.” + +"While broader market spillovers appeared limited, the episode highlights the potential for material distress at [nonbank financial institutions] to affect the broader financial system," the report said. + +Ok this is basically a straight up warning that “non bank institutions” (read: HEDGE FUNDS) could affect stability of the financial system. + +Doesn’t get more bearish than that! And you know what that means for GME! 🚀🚀🚀 + +EDIT: here is the link to the report source + +https://www.federalreserve.gov/publications/files/financial-stability-report-20210506.pdf + +Big thanks to u/Purple-Artichoke-687 for helping me with that. +I purchased a 5br/3b home in FL for 340k 3% down 30 year conventional, 4.375% interest / no points. + +* I spent $14.3k on closing costs, of which $10.2k was equity. +* I spent $8.8k on repairs and improvements (new AC system, electrical upgrades). +* I spent $13.5k on furnishings. + +My total invested to get the home up and running was \~$37k. + +I include utilities in the rent, they are \~6.8K/yr. + +I have averaged to collect $36k/yr or $3k/m in rent while I live in the master, between a mix of friends and LTR airbnb guests. This includes vacancies. + +The mortgage + utilities average $2820/m or \~$34K/yr. Thus my cash flow is roughly $2k/yr, but if I move out I can cash flow $12K/yr for LTR tenants I know which are much less work or $32k/yr for STR tenants on airbnb. + +The mortgage includes home insurance and property taxes. There is no HOA. + +This excludes appreciation, mortgage paydown, and low effective taxes due to deductions. I also just remodeled a bathroom for $10k. I am confident if I resell I can get at least $375k, the house is worth $400k. + +Does this sound like a good area to keep investing in? Does it seem like I am under charging on rent? + +My plan is to move out and rent the entire house while I do another house hack. + +Edit: clarifying a few things +Hello, I have created a house affordability tool that can be used to help figure out if you and your partner can afford to buy a house that you might have in mind. I am looking for a property myself at the moment and I’m still pretty new to all of this. The tool is pretty basic but it should hopefully be useful for first-time buyers. There’s probably a lot of other things that I might have missed or anything that I misunderstood. If you have any ideas on how I could improve the tool or anything you would like to see, let me know. + +Here is the tool: [https://przemekmas.github.io/HouseAffordabilityTool/home.html](https://przemekmas.github.io/HouseAffordabilityTool/home.html) +Respect to those who hold, even when times are getting harder, friends and families don't understand us. Criticize or are fearful of our confidence. + +We are warriors, facing lies and fud for most of our lives, we are the ones who have always suffered manipulation, abuse. + +Hold strong for the heart and the rock that we are together, only together us ape strong. + +Edit: thanks for the love! + +💎 💓 +In 2007, Buffet made a [one million dollar bet](http://longbets.org/362) with Ted Seides of Protege Partners that over a period of 10 years, a low cost S&P 500 index fund would deliver a better return to investors than any five hedge funds hand picked by Ted. + +The bet matures this year and [the results show](http://imgur.com/4QguHTe) that Buffet is set to win by quite a margin. + +The results indicate that in seven of the nine years, the Vanguard S&P 500 has beaten the average of all 5 hedge funds selected. The overall gain to date shows that the index fund is at least 20% clear of it's nearest competitor. + +Buffets reasoning is quite clear: + +If "passive investors" invest in index funds that track the average movement of the market- they must by definition do average. If this is true than the "active investors" (those that try to maximise their returns by investing more strategically and with less diversity) must as a whole, also be doing averagely. + +The key difference between these two groups is that the active investors are paying significantly higher fees to their fund managers. It's these fees that give the index fund the edge. Buffet has continued to advocate for low cost index funds in his [latest Berkshire Hathaway letter](http://www.berkshirehathaway.com/letters/2016ltr.pdf). + +What does r/investing think about the whole thing? Buffet isn't claiming that it's impossible to beat the market. But he mentions in his letter that it's a lot more difficult to pick the right investment managers then you think. + +This quote stuck out to me: +>“There are, of course, some skilled individuals who are highly likely to out-perform the S&P over long stretches. In my lifetime, though, I’ve identified – early on – only ten or so professionals that I expected would accomplish this feat.” + +If one of the greatest and well connected investors in history claims to only know ten or so professionals who could reliably outperform the market, what hope do the rest of us have? + +If you change your DCA plan according to price, you’re not doing DCA, you’re trying to predict the market. Even if the upcoming months seem very bearish, you have to stick to your DCA plan. That’s the whole purpose of dollar cost averaging. I saw a lot of people saying that it was the perfect time to DCA when BTC price was at 40K$, but now that BTC is at 20k$ the say that they will wait for the market to go lower. + +It’s perfectly fine if you want to predict the market, or if you will wait for BTC or ETH to go lower to buy more. But be conscious that doing this defeats the whole point of DCA. Just do what you want, but don’t lie to yourself. +I just got a 50% raise. Details below: + +I've been in my current role for about 10 months and doing very well, but feeling a bit under-valued. After some 1:1 sessions with my Manager, he suggested I ask for a raise. Was making $60k/yr, and the increase just got approved for $90k/yr. Started the conversation with an email. Here's how the email to HR looked: + +1) **State my case** - Was direct, asking for an increase in compensation, with high-level logic. + +2) **Logic** - Went into detail on my work, the value I bring, and the positive feedback I've received. + +3) **Data** - Linked data on median pay for my role/responsibilities from sites such as Bureau of Labor & Statistics, Glassdoor.com, and Salary.com. + +4) **Conclusion** - Recapped my logic and data. Closed strong with the direct request to increase my pay to $90k with a date of July 1st. (FY17) + + +I shot high, thinking we would land in the middle. Was pleasantly surprised to get exactly what I asked for. Happy to answer any questions on the details. + +**Update**: Wow! Thanks for all the support everyone! I'll do my best to reply to your comments throughout the day today. Oh and I forgot to mention, I do not have a college degree either. I will also not be sharing the email. The details above should suffice, but feel free to ask questions! +A couple of years ago one of my relatives thought he had cancer and instead of going to see a doctor he ran up every credit card he could get approved for and was then diagnosed with something pretty easily treatable. At least that's what he claims. I think it was something else, but either way, here we are. He's about $40k in the hole. Most of these debts are credit card related, with a healthy sprinkling of medical and tax debt. He only makes in the $35k ballpark per year. Has zero assets. + +I think the obvious option is to hunker down, get multiple jobs, and live under a rock when not working. The problem is that he is struggling to pay it off but interest is just killing him. Are there any other options here? I keep hearing that bankruptcy might be an option. I know less than Michael Scott about bankruptcy. I have suggested he got to a bank and try to get a debt consolidation loan. He says he has tried but his credit is too far gone for that. + +Any suggestions here? Has anyone been through a situation where they are just buried like this? +Hey guys! + +I wanted to discuss my success in being able to limit losses and actually profit off of market corrections as well as make money during the time the market runs up. + +However, I first want to say, I didn't get it on my first try. The first major correction I experienced was mid-July. + +July 13th: portfolio at 300%. July 16th. portfolio at 200%. Yep a correction knocked off a full 100% off my portfolio. The 2nd one was early July. That one also knocked off about 90% off my portfolio. + +So, at this point, I did what any sensible human would do. Knowing that the market would continually seeing corrections, I wanted to know what the best option would be so I can actually capitalize on this. Options are all about timing, and I needed to make sure I was prepared for the correction before it tore through my portfolio and it was too late. I didn't want to approach each correction the same way and expect a different result. Running into a brick wall over and over again will have the same consequences. So, in other words: **How can I successfully short the fuck out of these stocks when they have major corrections to roll some BIG coins?** + +I stalked and learned and did some research. Market starts its run again and the next thing you know, it's the exact same trend. NASDAQ been green for 10 days. market feels stretched. So this time, I didn't wait for the market to correct and burns my calls, I shaved off a lot of my calls earlier, and loaded up on puts on the major core names (AAPL, FB, NFLX, etc.). However, I kept my long options. I usually have options that I'm long on, about 2-3 months out. So, I usually let these calls run while adding puts. Anyways, 2 days later, market slumps and comes running down and my puts fly. I'm selling puts while rolling the profits over while adding more. + +I don't want to say I made this post to teach you guys, because I am a very new and amateur trader, BUT, I did want to share my experiences and some valuable lessons I learnt in my road so far of trading options. Rolling coins using options is incredibly hard, but one of the biggest things I realized is you learn the most when you're on the market, watching and analyzing trends, and playing options; nothing beats being in the market for experience. I've only been trading for about 4-5 months, but I'm in love. I'm hooked. Maybe it fades away, who knows. But for now, I'm loving this, even when I'm losing money and having red days, I take it as an opportunity to learn and when I make bad trades, I add some rules to my notes. + +Options are very difficult. I've been doing it every single trading day, from open to close every damn day since May, and I still feel like an amateur. The biggest piece of advice I would like to give tho (take it or leave it), is always, ALWAYS follow the market. do not think you're smarter than it. do not try to outplay it. I learnt that the hard way. I hope this post was of use, and if you have any questions or comments or anything to say I'd love to hear about it in the comments. +The other three parts can be found here [1](https://www.reddit.com/r/Superstonk/comments/o2xz48/the_sun_never_sets_on_citadel_part_1/) | [2](https://www.reddit.com/r/Superstonk/comments/od4bb1/the_sun_never_sets_on_citadel_part_2/) | [3](https://www.reddit.com/r/Superstonk/comments/pzfxnd/the_sun_never_sets_on_citadel_part_3/) or in the DD HOF. + +It's taken a looong time. This update is for the folks who have asked (especially u/Elegant-Remote6667). Easier to post this than ping everyone. + +Let's just say that it's worth the wait. + +&nbsp; + +**IT'S FUCKING WILD** + +&nbsp; + +Oh, and I'll try to sum up Citadel's position in all of this, in a way that nobody has, because why not. + +Come for the DD, stay for the memes. You know how it is. +**Vericoin (VRC)** has my vote. Since 2014 they **just** hired a marketing firm. The world's only binary chain -- CPU mined with your TiVo, cell phone, and smart-fridge. Tiny supply and market cap. [**VRC Reddit Feed**](https://www.reddit.com/r/vericoin/comments/7ohz6f/what_makes_vericoin_verium_special_click_here_to/) + +**Congrats on your early discovery before the masses...** **What's your Sleeping Giant?** + +Stick to low market cap/low circulating supply undiscovered altcoins over McAfee's Verge/Dogecoin PnD's. +Hi all - I'm thinking of proposing to my girlfriend sometime early next year. I was hoping to get a reality check from fatFIRE folks and see what is a reasonable amount to spend on an engagement ring. A little background on myself, I'm 26, work in finance, make a smidge under 300k this year. Have about 500k NW, no debt, pretty solid financial shape overall in HCOL NY. + +I found a jeweler with a solid reputation that sells rings close to wholesale price, and I'm thinking of splurging ~20k on an engagement ring. Is that a crazy amount for an engagement ring? Basic specs is that it's ~2.2 carats, round cut, 2nd tier color and clarity (G/F and VVS1/2) + +I'll caveat the whole situation by saying that 1) 20k won't set me back much, I'm on a good earnings track and won't impact of near term or long term finance, 2) my girlfriend told me she is totally fine with a $1000 ring, so there's no pressure to spend that much, 3) I'm well aware of the De Beers marketing campaign, that diamonds aren't even that rare, etc. 4) a bunch of my co-workers also spend $20k+ and seems to be the norm for my profession. + +For me, it's more about the sentiment and something I'm willing to pay because 1) my girlfriend will be ecstatic about the ring and 2) I'm able to without going into debt. Nonetheless, $20k is a quite a hefty hunk of change. Reason I'm posting in fatFIRE is that hopefully there is a different perspective than r/FI or r/PF where I'd be universally chided for spending so much. Can you please provide some perspective and let me know if it truly is too much to spend and I should get a less expensive ring? + +Apologies in advance if this topic is not appropriate for this sub, but would love to hear your thoughts. Thanks + +EDIT: Thank you all for all your comments. I gave up responding to all of them pretty quickly, but know that I've read every single post here (multiple times) and really appreciate the genuine thoughts and advice. +I've been having an ongoing debate with a relative centering around vacation time and work-life balance and am curious to hear some takes from this sub on the topic. + +Simply, I have interviewed at (and been offered) a number of jobs in the last few years and always discuss vacation time/ work-life balance and heavily weigh it in my decision making process. My relative is fairly successful and he, and many of his co-workers and friends, are apalled by this. They claim they would never hire anyone who would bring it up in the negotiations and have never even heard of anyone asking. + +My attitude is that the whole point of saving money is for me to enjoy my free time. It's very valuable to me to accelerate that free time to travel and be with my family given our time on this planet is limited and never guaranteed. The main thing that baffles my relative is that..at my salary level I have basically dug a line in the sand that the difference between 2 and 3 weeks of vacation would require at least a 20% increase in my annual salary. I feel the same way about a job that will be 40 hrs per week vs 60-70. +I definitely want to retire early, but my thought is if the salary differential doesn't speed that up in a meaningful way then it's just not worth it. To put it simply...I tend to believe that as I make more money...the value of of my free time starts to go up exponentially. I don't think it matters if you srr salaried vs hourly - to me that is only meaningful in a legal sense but you are still always trading x hours for y pay. + +I thought this may be a generational thing (in this case millenial vs Gen Xer) but my relative is adamant he interviews plenty of millenials who never discuss vacation. Am I completely on my own on this or is this just workaholism on my relative's part? + +TLDR: How you value your vacation /free time at least in relation to your salary? Is it wrong to view vacation as an important part of overall comp? +Like the title says. I put off doing this last year because of how terrified I was to owe tens of thousands to the government. Edit- haven't filed since 2013. So I'm filing for 2014, 15, and 16 now. +Posting for visibility and because I think it reflects more dramatically when all of this information is in one place. + +Googling "top US banks" this is the list I get in order. +Wells Fargo + +Bank Of America + +JPMorgan & Chase + +Citigroup + +Goldman Sachs + +U.S Bancorp + +Morgan Stanley + +Etc, etc. + +Over the past few days, 6 out of these top 7 have been busy. + + + +#Wells fargo +https://www.reddit.com/r/Superstonk/comments/mt00ka/wells_fargo_selling_off_an_investment_holding/?utm_medium=android_app&utm_source=share + + + +#Bank of america +"BOA to set record for 15 billion in bonds" +https://www.bloomberg.com/news/articles/2021-04-16/bofa-to-set-record-for-largest-bank-bond-sale-at-15-billion + + + +#JPMorgan and Chase +"JPM commits 6 billion to new European football super league" +https://www.reddit.com/r/Superstonk/comments/mteun2/jp_morgan_has_just_dumped_6_billion_dollars_into/?utm_medium=android_app&utm_source=share +"JPMorgan to sell 13 billion in bonds" +https://www.bloomberg.com/news/articles/2021-04-15/jpmorgan-to-sell-13-billion-of-bonds-in-largest-bank-sale-ever + + + +#Citigroup +"Citigroup pulling out of 13 markets(Australia, Bahrain, China, India, Indonesia, Korea, Malaysia, the Philippines, Poland, Russia, Taiwan, Thailand, and Vietnam) +https://www.reddit.com/r/Superstonk/comments/mrxp75/citibank_announces_sale_of_australia_bahrain/?utm_medium=android_app&utm_source=share + + + +#Goldman Sachs +"Goldman following competitors lead in issuing bonds, preliminary filing" +https://www.streetinsider.com/dr/news.php?id=18266922 + + + +#Morgan Stanley +"Morgan Stanley to issue 6 billion in bonds" +https://www.reddit.com/r/Superstonk/comments/mu2df3/morgan_stanley_joining_the_bond_selling_team_not/?utm_medium=android_app&utm_source=share + +"Morgan Stanley reports $911 million loss from Archegos" +https://www.google.com/amp/s/amp.ft.com/content/b589c3f5-9175-4572-bb7e-02ad17e414c1 + + + + +Excluding US Bancorp, The list from top to bottom is pretty filled out. It's evident to me that key players are making very important moves to be ready for something that's coming. + +Edit:"WallStreets Mega Banks CEOs to be hauled before Congress in May; Nobody will say why" +https://www.reddit.com/r/Superstonk/comments/mu7bma/things_that_make_you_say/?utm_medium=android_app&utm_source=share + + +Edit: "The DTCC and JPMorgan, they're getting ready for defaults" +https://www.reddit.com/r/Superstonk/comments/mur8bz/srdtc2021004_the_dtcc_and_jp_morgan_theyre/?utm_medium=android_app&utm_source=share + + +If I've missed anything, feel free to comment and I'll try to update the list with new information + +As always: ^^^Not ^^Investment ^Advice. +My mother works in cabin crew and unfortunately obtained breast cancer a couple of years ago. She went off sick from work and and she received 28 weeks Company Sick Pay during her treatment and then went back to work for 6 months. + +However when she went back to work she worked on the ground in an engineering base (she wasn't flying as she would normally would be but she was still working full time and her manager said she could do this). + +My mother had to go off sick again for more surgery and is now planning on going back to work in August. However somebody in Human Resources has said that my mother was not entitled to Company Sick Pay because company policy says an employee must return to their normal contractual duties (flying as cabin crew instead of working in the engineering base) in order to qualify for the sick pay. + +However this was all reviewed and approved by my mother's manager who has been in constant contact with my mother during her time off work. She regularly was telling her when her sick pay runs out and what she has to do etc. + +This is clearly a mistake by the manager as she left my mother work in the engineering base instead of flying (which she would have done as you only need to return to work for two weeks to be eligible for further sick pay). + +The company now want my Mother to pay back her entire salary for the past 6 months because of this stipulation. Can they do this? + +We would really appreciate any information. + +Thank you for reading. + +TL;DR: -Mother went off sick for full length of sick pay during chemo/surgery. -Mother returned to work but did a different job for 6 months which was approved by her manager. -Mother went off sick again for more surgery and the company paid her sick pay for the last 6 months. -The company now want 6 months salary paid back to them because in the company sick policy it states that the employee must 'return to their contractual duties' after the first instance of being off sick. -Does my mother have a leg to stand on given her manager's misinformation? +I know RKT was a favorite among theta gangers due its range bound price movement and high IV. I discovered this stock fairly recently and only managed to sell a few CSPs before the insane movement this week. Kinda sad we are losing this to the r/wsb crowd. + +So what is your next move on RKT? Will you continue wheeling it with higher strike prices (selling the $20 put used to be the sweet spot)? + +Any other RKT replacement you are currently eyeing? +if the aim to get overall pay less tax than Bank fixed deposit and getting more return than FD + +1. Overnight Funds. +2. Liquid Funds. +3. Ultra Short-Duration Funds. +4. Short Duration Funds. +5. Corporate Bond Fund. +6. Credit Risk Fund. +7. Gilt Funds. +8. Fixed Maturity Plans (FMPs) +I’m going to experience around a 10 million dollar windfall in the near future due to IPO startup luck. + +My stock is all in RSUs so there isn’t much I can do to avoid initial taxes, but I’m not sure what to do once I have my stocks in-hand. + +My plan is to sell all the company stock and buy low cost index funds. I would use dollar cost averaging and sell off over a period of time (probably a year) in order to average out stock to market volatility. + +Am I being naive? Should I retain professional help when dealing with amounts of money that are new to me? Or can I keep using the same strategies that I’ve been using for my measly 401k? + +Thanks for the advice. + +**The Ranch won’t be generating income for advice purposes view it as a home inheritance** + +**Edit: for further info the land and home was used by my brother as a base of operation for his welding contract work. People are saying take up the family ranching, for accuracy it’s more take up the “welding contractor work/life” which honestly is a potential option** + + + +I’ve been traveling for work and stacking up on my finances. My only real possession were the clothes I kept with me and my vehicle. With my brother gone I’m moving back to my home town and taking over our families ranch home which my grandpa and father built way back when. My brother had no real cash assets but he did leave behind lots of property type things, vehicles, tools things of that nature. I just quit my out of state job and still have a lease with a roommate I plan on talking with the landlord and maybe fronting the rest of my half now to be taken off the lease. Here are the numbers and I’m wondering what my steps should be. I do not have a job but can get one in 2-3 months my take home would be in the 2.5-3.3range for what my trade goes for here. (Low cost of living area) + + + + +Finances +Debt: 44,000 + + +Monthly out of state Lease 7k total (1k a month) +Pass due Taxes 20k 7% (not my loan can refinance) +Car 17k 2.3% interest ( 530 month to month) + + +Cash assets: 33,000 +Cash 28k +5k secured credit card +Non retirement account investments: 85,000 (60k of which is long term) +Retirement: 63,000 + +Non sellable property: +Payed off home 150-200k +My car 22k + +Brothers Property and sellable physical assets. +10k work truck net after repairs (3k repairs) +7k truck net after repairs (1k repairs) + + +Monthly budget with debts as they are: 3295 (edit:3.5k forgot light and water bill) + +Moms home 300 +Out of state lease 975 +Car payment 530 +Car insurance 6 months paid in full atm otherwise (135) +Overdue Taxes 450~ +Food: 350 +Gas: 200+ (home is far from everything) +Trash 75 +Internet 110 +Phone 120 +Other subs: 50 + +So should I sell assets and knock debt out, or burn through cash while I seek a job and just have a high monthly budget. +So I needed to celebrate, but didn't know where else to do it. But I am so damn proud of myself! + +A little backstory - I'm 26, and recently graduated college. I grew up kind of poor (due to my mother's illness) and most of my working life has been low paid/minimum wage hospitality and retail work. +And during my uni days, I struggled to find work and lived off student welfare at 12k a year (6k of which went on rent.) +So in other words, I have had a really hard time saving any money. Up until now, I considered having two or three hundred in my account to be "savings". + +After I graduated uni last year, I finally found a better paying entry level position and also another hospitality job. I've been working my ass off (50 - 60hrs a week) since January, and saving the majority of my pay. I kept living the thrifty lifestyle same as when I lived on welfare. I also finally took an interest in my finances, mostly in thanks to this sub and r/frugal. I found a good savings account (3% interest) and kept depositing into it as much as I could. + +And today it finally paid off. + +I finally hit my goal of $10,000!! + +I honestly don't even know what i should do with the money. I just feel so happy to have achieved my goal, and to have that fund there in case of any emergencies. I think I should probably invest some of it, but I know very little about investing in Australia. If anyone has any advice for me, that would be amazing. + +Thanks, everyone!! + + +I knew coronavirus was going to be bad for the economy, but the extent to which it was didn't really hit me until a finance lecturer was basically like "there's going to be a recession, it's just a matter of not getting into a depression" and "GL, we'll be here to be a shoulder to cry on" for anyone graduating this/next year (hi, that's me in marketing as a 23yo). + +Obviously we want to reduce spending, build up the savings, keep upskilling, try and stay healthy (lol), and stay employed/job seek(?) but what are some things we need to think about to stay ahead of the curve? How old were you when you went through a recession? What is something that you wish you'd done or that you're appreciative that you did do? What was the environment like? How did you deal with it mentally? If things didn't end well for you, how did you recover/where are you now? I know there's a light at the end of the tunnel, but going down that tunnel seems mighty long and hard. +Who here is working a four day work week and how are you finding it? Is anyone a manger who has had a four day work week proposed to them? + +I’m currently in a work group who is trying to propose a 4 day work week to management, just wondering how everybody is finding it. + +If you did win a four day work week, how did you ask for an extra day off for the same amount of pay? + +Looks like more and more businesses are taking it on in Australia and I really hope it takes off. Interestingly I work in a field where we don’t have any flexibility at all atm- + +Our workplace is a long daily drive from civilisation and we physically have to be on site. Is the four day work week only going to be something enjoyed by industries that already have work flexibility or will it become the baseline for everyone over time and how will it effect your work place? +Sorry for the clickbait sounding title, but I'm surprised at how quickly I have lost interest in FIRE after hitting certain financial milestones. I discovered the FIRE movement about 5 years ago and dove headfirst into it. In that timeframe, I have been fortunate enough to nearly triple my income and go from a net worth of about $0 (essentially student loans minus assets) to about $400K today. + +Last month, I paid off the last of my student loans. It was an unceremonious end to a 10+ year grind that consumed a small mountain worth of stress and mental energy. That stress reduced as time wore on as the loans became less of a proportional burden on my budget. Now I have increased cash flow to go towards investments and advance my FIRE timetable to a degree, but... that's it. My finances are more or less on autopilot now. + +I suppose this is what the "boring middle" feels like. While it's nice to have more bandwidth (both financially and timewise) to do what I want, I have also had a lot of fun over the last few years learning about personal finance, investing, FIRE, and then tracking the quantifiable results of acting on that knowledge. It became a hobby. Now it feels like there's nothing left to do but stay the course until I hit my FIRE number. In a weird way, I feel a mild sense of loss. + +I don't know what my ultimate goal of posting this is, other than unburdening some feelings to an audience that will understand better than most people in my life. This ennui was unexpected, but is also a good problem to have, I suppose. I am extremely fortunate to be in the financial position I am in now. The path to FIRE continues. +I’m so sick of scraping by. I have debt I’ll never pay off at this rate and I’m constantly stressed over money. + +So, I’ve started making changes. I’ve just applied for a second job as my current job has been losing hours like crazy. + +I also plan to head to my credit union to see if I can get a personal loan at a lower interest rate consolidate my credit card debt. + +I’ve been on this subreddit since day one. I know I’m not great with money. I have a very poor relationship with money. Through reading this subreddit, I know I can change that! + +Hopefully by the end of 2019 I’ll have some money saved up thanks to this subreddit! You all are awesome. +I’ve received a job offer for role with a seemingly great company. It’s a ~22% raise from my current role. The raise seems like a no brainer on paper, but it’s a hybrid role and I’m currently fully remote with a single car (married with kids) so a new vehicle will be a must. Additional costs or fuel, insurance and monthly toll fees. + +My current role enjoy and I really like my manager and the team I manage. But I��m definitely compensated below market value. + +Thoughts or suggestions on if the new role and increase makes sense to take (or not personal finance advice on how to navigate the decision?) +I should've ranted about this months ago, but with this most recent development, I figured now is as good a time as any. + +On July 3rd of this year I got into an accident while running a DoorDash delivery. I was running DoorDash for 3 months at that point since I got laid off of my job back in March. I was already behind on rent and bills, so DoorDash barely kept me afloat, even if I hated every minute of it. Long story short, I got into an accident where I had a stop sign and the other car didn't have one leaving me 100% at fault. + +My car got hit by the passenger fender, displacing my wheel+control arm and my side airbags deployed too. The wheel couldn't turn and I had to get it towed from the site of the accident. I coorperated with the other driver and traded insurance information and submitted a claim of my own. Now, I got my insurance policy back in August 2020. I wasn't DoorDashing or doing any sort of rideshare at that point. Apparently I needed some sort of extra policy to cover any accidents that happen while doing Uber/DoorDash/Lyft/etc. DoorDash never made it clear that I needed to add on to my policy while signing up in April 2021, so I signed up without changing anything on my insurance. Everything was fine and dandy until I got into that accident. Progressive denied my claim for not having that extra rideshare policy and there was nothing I could do about it. I now own a 2010 Mazda 3 that's completely undriveable and I still owe $6-7k on it. To kick it even further, a branch fell on that car while it was sitting in a driveway and I didn't have it on any insurance because it wasn't on the road. Insurance won't cover those damages either since I didn't have a policy at the time. It took me into a deep depression for a while and I've only recently accepted the fact that I'm going to have to pay out of pocket so I don't get a repo on my credit report. + +Today, I received a letter from the other party's insurance (Traveler's) stating that I am liable for approximately $12k in damages to the other vehicle (my car was much more damaged than their's mind you). I screamed "FUCK" at the top of my lungs in frustration which warranted a concerned neighbor at my door. After explaining to my neighbor that nobody is hurt (psychically), I called Traveler's to find out what's going on. I was basically told that because my insurance company denied my claim, I am now responsible for the $12k in payments they had to dish out to the other driver. I tried explaining to them the whole situation and background to this and the best I got was "I know this situation sucks for you... you still owe us though or it's going to collections". Now I'm an extra $12k deep on top of the $6k I owe on my car THAT IS COMPLETELY TOTALED. + +It didn't take me long after the accident to sell all my stocks and ask a couple of favors to buy a $2k beater, so I've been working my ass off since August to catch up on 3 months of backed up rent and 2 months worth of bills. I JUST recently got caught up in my rent (still late for November at the moment, but all previous months were paid off), finally accepted my loss of my Mazda, and now I get hit with more white dog shit in my stomach. At this point I don't know what to do. Do I seek an attorney for advice at this point? Do I just eat the double whammy? I've been barely living since July and I don't know if I can get over my frustration with this whole situation. Any advice would be appreciated. Even if there's nothing I can do, ranting about it here is much better than bottling up all this anger and sadness. I just can't seem to get ahead anymore and I almost don't even want to fight anymore. The carrot on a stick is moving away from me at 60MPH while I'm at a walking speed. +Hello, I need to cancel the stop loss order if the take profit one was filled and the same if the opposite happens. I have the [TIF (Time In Force) set to GTC (Good Till Canceled)](https://help.bybit.com/hc/en-us/articles/360039749233-What-Are-Time-In-Force-TIF-GTC-IOC-FOK-) but this only cancels one order when it's filled. I only need to cancel one order when the other one is filled. +I think a lot of new people could particular benefit from this, but how do you typically discover new algorithms? + +Obviously a lot of it is probably self derived, but do you start from a hunch? Do you read papers? What typically works for you? +I'm not going to give you a wall of text that you will probably skim through, instead I'd like to show you 4 graphs that I've studied at length which I feel depict my thesis in shortest amount of time then provide brief explanations + +**Thesis-** The stock market is at an unsustainable high valuation and when tracking historical times of similar booms we see a sharp pullback in the years following a squeeze of like magnitude. High speculation coupled with total uncertainty in rate tapering timing will lead to a 30+% correction in the summer of 2021. Retail spending will be at ATH, supply shortages will be at ATH, and inflation levels will spike to 2009-2010 levels. + +**Graph #1 - Bank Of America Global Research Sell Side Indicator**\*(this charts buy and sell signals based on 15year averages)\* + +[Currently we are less than one point from a sell indication(blue line nearing red line). In history, corrections occur directly following a sell signal call.](https://imgur.com/ea41EXC) + +**Graph #2 - VIX/VXV**\*( the VIX is a real-time market index representing the market’s expectations for volatility over the coming 30 days, the lesser know VXV measures implied volatility three months out. One way to look at fear/greed is to use the VIX divided by the VXV: VIX/VXV ratio )\* + +[The current VIX/VXV ratio sits at 0.754. When the rate is about this low, vertical blue lines, returns for the S&P500 are often less than stellar. Namely, in 2012 the S&P500 lost 10-14% eventually. In 2015 the index stalled almost a year, adding a mere 3.5%, only to lose nearly 15%. Similarly, in 2016, albeit the pullback was shallow (-5%). In 2017 there were several <0.75 readings, and the market ignored those, gaining almost 20% since the first reading in August 2020 but losing at least 6% since the last <0.75 reading from December 2020. Besides, less low readings, like in 2018 and 2019, can still lead to 20% losses.](https://imgur.com/XeQzQOF) + +**Graph #3 - Fibonacci Retracement** *(Fibonacci retracement levels are horizontal lines that indicate the possible locations of support and resistance levels. It shows how much of a prior move the price has retraced. The direction of the previous trend is likely to continue. However, the price of the asset usually retraces to one of the ratios listed above before that happens. )* + +[The white lines are the resistance levels at 8 month intervals. The 5th sequence of the cycle usually results in the further move to the downside. Following this trend, the 5th wave would happen between july and september 2021.](https://imgur.com/a/xmDHd0A) + +**Graph #4- VIX Bollinger Bands** *( Bollinger Bands are curves drawn in and around the price structure usually consisting of a moving average (the middle band), an upper band, and a lower band that answer the question as to whether prices are high or low on a relative basis.* *The narrow bands suggest a period of low volatility. Widening bands suggest an increase in volatility often associated with a trending market environment )* + +[In the graph, we see the VIX(Tracks options volatility) at two time periods: 2008 Recession & Present Day. In 2008 we saw the VIX fall through 2009 and into early 2010 as the economy was bailed out. Bollinger bands leveled out at peak separation from top and bottom bands which led to a market sell off shortly after, further lengthening the economic recovery. Following this trend we are in the same cycle as post 2008 recovery, with the markets speculation growing towards a potential catalyst in the form of an interest, tax or wage rate hike.](https://imgur.com/ipurNzi) + +**CONCLUSION**: History shows us there is cycles to our financial nature as human beings, analysis shows us the cycle end is nearing. Overvaluation, abundance of cash, and supply restrictions will ultimately lead to a correction in anticipation of coming inflation. + +**PREDICTIONS** Federal reserve begins slowing asset purchasing in June and overvalued mid and small cap stocks will sell off to offset heavy weighted holdings( lowers taxes with realized losses), by July 4th news reports on lay offs from material shortages will begin, July and August will be red, and September-December will be a recovery back to 200 day moving averages. + +$SPY $350 & VIX $50 by 7/15 + +&#x200B; + +I posted a follow up to provide further insight on what led me to this conclusion - [see here](https://www.reddit.com/r/wallstreetbets/comments/n3lf3b/indicators_relative_to_the_impending_market/) +I just sold all my tech/meme stocks and just went straight to index funds. Over the past few months of "investing" I realized volatility is not my friend. Maybe that is the wrong approach but I figured, I'll take the loss as a tax credit and just keep everything in VTI/SCHG and some dividend stocks. + +Edit: thanks for the support + +An example I’ll use is PLTR. +On March 8th it was at 22$. Analysts were saying buy buy buy. Great. So as of today, it is down 20% from March 8th. Vs VTI, March 8th it was 200, closed at 211 today so you’d be up 6%. Of course, you can wait 5 more years, and maybe PLTR will get to 40-45 again... that is if they don’t have competition, no issues with their business model... whole VTI may go up 30-35% but with less stress of worrying about an individual company... yes less risk, less reward... + +Edit: +There have been some messages about "paper hands" etc, buy high sell low... valid points perhaps, but, +I did this for my own self, as I realized that: + 1. I am not a person who can handle the volatility of some of these stocks, I am sure that they will go up in 1,2,3, years etc, but if they do, so will VTI / VOO / SPY.... maybe not to the same level but the road will be less bumpy + 2. This is a way to build a base of my portfolio. I will go back to stocks, but to at a much lower exposure. I do think that inflation will be an issue over the next few years and I think some of the tech stocks will be up / down for the next bit. Especially those companies that are trading at 100x their earnings, so I am sure I will have the opportunity to re-enter (again my opinion). + +In the meantime, I sold, yes I took a loss, but this will be used against any gains I did make this year my offset my taxes a bit (not sure how much, will see in Jan). +I'm pretty new to RE investing. I wanted to share the number to my new property I'm purchasing. I used a owner occupied conventional loan. I plan to live in it and rent out rooms for the first year. Then rent the entire unit out the following year. + +Here are my results. I would appreciate any positive or negative feedback. + +* 3 bedroom 2 bathroom **1,268** sqft. 2 story Single Family House +* Listed Price: $185k (Note: The house last sold in 2017 for $149,900) +* My offer: $181k, which they accepted. +* It appraised for $184k, so I am getting $3k in equity +* The seller is giving me $2k credit for repairs. (The house has some minor issues. Nothing too urgent.) +* Seller is also paying for 1 year Home Warranty valued at $599 +* Down payment: 5%($9,050) +* Interest rate is 3.875% +* Cash to Close: $13,521.89. You can subtract $2k from this number because seller is crediting me for repairs. So it'll be $11,521.89. +* Median rent prices in the area is $1,543, Average rent is $1,554 +* My monthly payments: $1,382.94 (This number includes Principle & Interest, Mortgage Insurance, Escrow, HOA) +* Estimated Cashflow: $1,554 - $1,382.94 = $171.06 (Average Rent - Monthly Payments) + +Edit: I plan to manage the property myself. +I am wondering what my realistic options are for my market. Property in my area does not follow the 1% rule. All of the rental properties in my area rent for about .5% of the purchase price per month. This makes me skeptical about investing in my market but I'm new and not comfortable purchasing a long distance rental. +The coronavirus is guaranteed to throw the world into recession, but economists are becoming less convinced about the potential for a strong snapback in growth. + +The base case for forecasters is that a recovery, perhaps even a vigorous one, gets under way in the second half of 2020. But as the pandemic spreads through Europe and the Americas, and the wide range of knock-on effects comes into clearer view, caveats to that call are piling up. + +relates to Economists Are Losing Hope in a ‘V-Shaped’ Post-Virus Recovery Underlying all of them is the simple fact that economic outcomes hinge on something that’s beyond the professional competence of most economists to forecast: the trajectory of the disease itself. + +“We have no certainty the virus will be gone by the end of the second quarter,” said Nobel prizewinner Joseph Stiglitz, a professor at Columbia University in New York. If it “lasts through the summer, then all the effects will be amplified.” + +Read More: Economists See U.S. Facing Worst-Ever Quarterly Contraction + +Beyond that, there is an array of questions for economists to grapple with -- and those doubts increasingly undermine projections for what’s known as a “V-shaped recovery,” in which lost output is quickly restored. + +Rather than sounding a decisive “all clear,” health authorities seem likely to advocate a gradual return to normal working life, so the behavior known as “social distancing” may stick around. + +Along with financial blows sustained during the downturn, that is likely to damp spending on travel or spending at shops or restaurants -- assuming those businesses can stay afloat in the first place. + +“It takes more time to get ‘back to play’ than to ‘get back to work’,” said Catherine Mann, chief economist at Citigroup Inc. This “underpins concerns for the trajectory for services-dependent advanced economies in the second half of 2020,” she said. + +Global Easing in 2020 Central banks across the world have cut interest rates this year + +Source: Bloomberg + +Note: Map shows rate decisions since the start of the year + +Consumer caution is already evident in China, even though authorities say it’s safe to go back into the marketplace, and it could happen elsewhere. + +That’s why Mark Zandi, chief economist at Moody’s Analytics, likens his forecast to a “Nike swoosh” rather than a V- or U-shaped rebound. He says U.S. output alone could plunge at an annualized pace of as much as 25% in the second quarter, bounce back by up to 15% in the third, then stall in the fourth with the economy “basically limping along.” + +Much will depend on how fast businesses bring back jobs. The International Labor Organization warns 25 million positions may be shed, and Goldman Sachs Group Inc. said on Tuesday it expected U.S. unemployment to soar to 15%. + +Mckinsey & Co. notes one quarter of U.S. households already live from paycheck to paycheck, and that 40% of Americans are unable to cover an unexpected expense of $400 without borrowing. + +Stiglitz worries about what he calls “financial gridlock” in which households and companies can’t pay bills, forcing those they owe to into bankruptcy and default as well and so on. + +That threat could be heightened by the scale of borrowing in recent years. The Institute of International Finance estimates household debt -- as a share of output -- is at record levels in several economies. + +Who’s Borrowing? In many countries, households didn’t delever after the financial crisis + +Source: Bank for International Settlements + +Corporate borrowing has also hit a high in countries including France and the U.S. Those debts along with the collapse in earnings and slide in equities may limit the ability of companies to reboot after the crisis, with some also likely to be hurt by the collapse in oil prices. + +“In any recovery, firms may need to sell shares or slash capex to reduce debt or repay government assistance,” said Charles Dumas of TS Lombard. + +Keen to avoid an extended recession, policy makers have been taking emergency measures on a scale that likely exceeds even the response to the 2008 financial crisis. They’re extending credit lifelines to business, paying cash to households, and helping companies cover their wage bills so they don’t have to fire workers. Central banks have slashed interest rates and started new asset-purchase programs. + +Read more: Understanding Recessions as World Heads Into One: QuickTake + +The strongest argument for a rapid recovery is what economists call “pent-up demand” -- a label that applies quite literally in the current crisis. + +Economies shuddered to a halt when people were forced to hunker down at home, so there should be a corresponding upswing when they’re allowed out again -- especially with governments everywhere injecting cash to speed the process. + +“Assuming the outbreak peaks by April/May, this will likely set the stage for a recovery in the second half of 2020,” said Chetan Ahya, chief economist at Morgan Stanley. + +He predicts the global economy will contract 2.3% on an annualized basis in the first half of the year before growing 1.5% in the second half. Even that scenario means the U.S. and euro area won’t regain their pre-crisis levels of output until the third quarter of 2021. + +Bond-Purchasing Programs The coronavirus pandemic has driven more central banks to buy bonds + +Source: Bloomberg + +At JPMorgan Chase & Co., economists led by Bruce Kasman are citing emerging markets as another source of concern. They’re being pinched by gains in the dollar and the outflow of foreign-held capital, pushing up local borrowing costs. + +The most encouraging virus news for economists at the moment comes from Asia, which suffered the first outbreaks but appears to have gotten them under a degree of control. + +China is cranking back into action, with numbers released on Tuesday showing manufacturing activity rebounded strongly in March. + +Demand in the domestic market is reviving, as lockdowns ease and consumers return to the shops or showrooms. Auto sales, for example, have been ticking higher for weeks, though they’re still down some 40% from last year’s level. + +What Bloomberg’s Economists Say... “If outbreaks in other countries follow the same trajectory, the world economy could be up and running again by the start of the second half. But that’s far from guaranteed. Past pandemics lasted years, not months. Scientists at Imperial College London are warning containment measures may have to stay in place for 18 months.” + +-- Tom Orlik, chief economist. See {BECO <GO>} + +International orders, though, may take longer to recover. Because other economies got hit later by the virus, they’re seeing a slump in demand for imports just as China’s export engine is revving up again. That feedback loop may undermine other recoveries too. + +And in China, as in other countries, economics will continue to depend on epidemiology for some time to come. Even as overall progress is made toward containing the coronavirus and developing a vaccine, there’s no guarantee that the movement will be in one direction. + +Instead there could be “aftershocks following the initial outbreak, with restrictions being re-imposed and lifted so as to manage the capacity of the healthcare system to cope,” said Keith Wade, chief economist at Schroder Investment Management. “In economic terms, this would lead to a double-dip recession.” + +History also suggests reason to worry. A just-published study of pandemics and armed conflicts found such shocks typically weigh on wages and investment for years to come. + +https://www.bloomberg.com/news/articles/2020-03-31/a-quick-rebound-from-virus-economists-have-reason-to-doubt-it?srnd=premium-asia +# The Future: + +If you want to see where this sub is heading. Simply look at the rest of Reddit. + +Moons haven't fundamentally changed anything. They have the same effect as karma points, maybe just more amplified and a little more greed-driven with the monetary incentive added. But the farming is not new, and it's all the same mechanism. + +If you look around Reddit, it's not always quality content that gets the most votes and visibility. It's popularity. And there's always the same handful of topics that keep getting the most votes, along with whatever meme and fad is going on at the time. + +That's the future of Moons. It's not gonna be so much a reward for quality but popularity. + +The more new people we have, the more it's gonna skew towards popularity. But don't worry, you'll still get upvotes for quality. And there will be people like me handing you awards, and downvoting populist garbage to try to even things out. + +# The karma: + +There's a common misconception that karma = upvotes. That's not the case. We know karma is not 1:1 with votes, we just don't know the numbers. It's done with an algorithm. Reddit favors upvotes over downvotes. So downvotes don't weigh as much. Voting manipulation is also clamped down in your karma. Unbalanced users who heavily downvote, or heavily upvote, may have their votes weigh less. + +And the more votes a post gets, the less those votes weigh. So 100 upvotes may get you close to 100 karma. But 20,000 upvotes may only get you under 6,000 karma: + +&#x200B; + +https://preview.redd.it/5bislo6au5e71.png?width=2750&format=png&auto=webp&s=4c946e33d4e5234351cc29821542fc127ca68efc + +# The Downvotes: + +Because moon distribution is based on karma and not upvotes, a lot of those nasty downvote bots and mass downvoters don't actually get counted. So we are pretty safe from downvotes, even if we can't see it. + +You may see your posts get a lot of 0 and -1, but your karma may actually be well into the positives. Ever noticed distributions like the last one, where the downvoting was really heavy handed, yet got a lot more karma than expected? You can thank the Reddit algorithm for that. + +Mass downvoters weigh very little on your karma. And it works too with voting manipulation of people upvoting their own posts, or small groups of people upvoting each other. + +That's why it's not a good idea to replace the karma system for Moons, for a system that only counts upvotes, as some proposals have tried to do. Because then there's no algorithm anymore to stop voting manipulation. + +*edit: while downvotes are probably not affecting karma as much as many people think, they are stil an issue for post visibility. That's why it's a good idea to check NEW for good quality posts, and help those with awards. Awards don't count towards Moons, but help with visibility.* + +# Who are the downvoters: + +In this part I don't have a lot of facts. I'm gonna get more into speculation, so take it with a pinch of salt. + +If you're wondering where the downvoting comes from, it's probably not bots. People who were here last November will probably know what bots downvoting looks like. Every single comment in the daily is in the negatives, with half of them being -5 or more. It's possible that bots may have been more discrete now. But why use a bot just to downvote in small quantities. + +The downvoting probably comes in big part from brigading. There's a lot of maximalist subs that hates this sub. Many are aware of our moons and think they can downvote them away. Safemoon has a serious grudge against us, because we keep mentioning they are a scam. And they frequently talk about us. And there have been posts on there for brigading this sub. Others like Shiba army hates us for the same reason. The increase in downvote seem to have also coincided with the drop of Doge. + +Another source of downvoters comes from people from our sub. And for the Daily Discussion, it seems to come from a group who use mostly just the main page. Some of them have expressed a degree of contempt for the Daily. Even trying to push proposals targeting people in the Daily. Their aim is to reduce the karma earned there, so they can get a bigger share of the distribution with their posts. There is an easy way to moon farm on there by just copy and pasting links every day. And the karma earned by the big activity in the Daily gets in the way of that. + +# Moon Farming + +Moon participation is not the same thing as moon farming. The term moon farming is now being used for anyone who is just participating a lot. When moon farming was originally designating people who use more subversive methods, like plagiarized content, even reposting other users popular posts, fake sob stories, or heavily commenting and posting links. And anything like easy moon farming techniques, like complaining about downvotes and claiming they are upvoting every posts. + +Moon farming is not gonna go away. It's part of the sub now. So it's something we'll have to accept. + +Votes aren't gonna be enough to stop them, since they are subversive about it, and will even post popular topics. There is a the 1K post limit, and the 15K karma limit that keep them from having too big of an effect on the distribution. There is probably still a need to limit number of comments, and also stop counting karma for deleted posts. It's too easy for them to repost popular links, memes, etc, that will get a lot of upvotes, and get deleted much later. But they keep the karma, and keep on spamming that stuff. + +I think in the future some degree of moon farming will be accepted. It's more of the moon farming that goes too far that will need to be dealt with. +Marriott International is acquiring Starwood Hotels & Resorts, creating the world's largest hotel company. + +The deal is valued at $12.2 billion, consisting of $11.9 billion worth of Marriott stock and $340 million in cash. For each share of stock, Starwood investors will receive $2.00 in cash and 0.92 shares of Marriott, with Marriott priced at $72.08 per share. + +Marriott (MAR) closed Friday at $72.74. Starwood (HOT) closed at $75.00. + +Combined, the company will be able to offer 1.1 million rooms in more than 5,500 hotels across more than 100 countries. +**TL;DR: Earnings call music included a 1918 classical music opera with a story about fraud, where a rich old man catches those guilty of conspiring against him in a trap.** + +&#x200B; + +Hey y'all saw this amazing post on another GME sub and thought it had some great info that you all would love! 100% of the credit (741%) should go to GME holder & classical music fan u/Burnquist1 as they don't have enough karma to have posted this here, so shower them in turn with your awards and karma! + +As a heads up, there's also a literary link to Dante's Inferno, the famous book where we get the idea of hell from! + +&#x200B; + +[Classical music apes assembleeeeeee](https://preview.redd.it/65q3706wn8o81.png?width=800&format=png&auto=webp&s=3d038ef797691ddca3da497334916635a56f3dd9) + +u/Burnquist1: + +&#x200B; + +# Was Gamestop's Q4 2021 Earnings Call Music Carefully Chosen? + +Being a classical music fan myself, I wanted to know the name. + +&#x200B; + +&#x200B; + +https://preview.redd.it/wil1wlm0o8o81.png?width=1923&format=png&auto=webp&s=702245bc083f58e030ba5605c9273260dfa93c75 + +The first piece is "O mio babbino caro" by Giacomo Puccini. + +&#x200B; + +This translates from Italian to "Oh, my dear papa". It's basically about a whiny girl and a boy she loves, but her papa says no. + +Relevant? Maybe, but I expect more from our GME Chessmaster Daddy Cohen. + +&#x200B; + +https://preview.redd.it/2lahz573o8o81.png?width=678&format=png&auto=webp&s=80c67139ef0da37f231b0bc5737f51f809e3a274 + +This piece is part of an opera from 1918 by Giovacchino Forzano called Gianni Schicchi. + +A classic story of... **FRAUD**. + +https://preview.redd.it/43gdafk8o8o81.png?width=638&format=png&auto=webp&s=45462f1b3da23837d3d0e09ffd0aa0139bf14289 + +Random Cohencidence? Maybe. + +&#x200B; + +https://preview.redd.it/hcu1carao8o81.png?width=334&format=png&auto=webp&s=36c02ed5169af39fc1a32b52572d58143710fe27 + +Basically it's about a rich old man that is on his death bed and all the vultures around him are only concerned with his will. + +&#x200B; + +[from a canadian opera piece](https://preview.redd.it/ezu17dedo8o81.png?width=800&format=png&auto=webp&s=42c989fceaa798711a2c9d1ffe499d8a63d36b74) + +They find out he left it all to the church and are pissed. + +&#x200B; + +https://preview.redd.it/0uxjnyfio8o81.png?width=728&format=png&auto=webp&s=f6db8b8e1faccfdf8296455c584a895c24f3fb1b + +Schicchi explains the only people that know he's dead are in this room and if they conspire together, they will all gain significant wealth. + +&#x200B; + +Before he disguises himself as the dead man, he reminds them all about the penalty for falsifying a will. None can back out or they will ALL lose their hands for theft and be exiled. + +https://preview.redd.it/mu7gdlyko8o81.png?width=500&format=png&auto=webp&s=0076fdeedac88b83b3b870431827802ba2da7fba + +They immediately begin to notarize the new will. + +&#x200B; + +When the notary arrives, Schicchi gives them all peanuts and changes the will on the fly, giving himself the entire fortune. + +&#x200B; + +[the guilty parties reading the new will](https://preview.redd.it/8ubdic8oo8o81.png?width=3888&format=png&auto=webp&s=590964056ef9b2601f01eb901aaa59bcbd69b268) + +None of them could say anything **because they were all guilty in this conspiracy**. + +&#x200B; + +Dante then condemns him to hell for his theft. + +&#x200B; + +https://preview.redd.it/o4vn6m12p8o81.png?width=1346&format=png&auto=webp&s=113e0e27b4c1ad912c6a5f2600817a778df9f310 + +The bigger criminal will ALWAYS turn on the lesser criminal eventually. + +&#x200B; + +**TL;DR: Earnings call music included a 1918 classical music opera with a story about fraud, where a rich old man catches those guilty of conspiring against him in a trap.** + +&#x200B; + +EDIT 2: Some great comments + +u/whatt_shee_said: + +>Listen, I usually read into this stuff only for fun, but I found the pre-call music a bit too tasteful for my liking, so I Shazam’d the song right before the call started. +> +>[The Good-Humoured Ladies (Les Femmes de Bonne Humeur)](https://en.m.wikipedia.org/wiki/The_Good-Humoured_Ladies) by D. Scarlatti +> +>its plot concerns the diversions of a count disguised as a woman, at a carnival +> +>Also, hold onto your seats, cause the six and finale movement of the ballet is titled **VI. Cat’s Fugue and Finale** + +&#x200B; +**All of a sudden lots of apes seem to have decided for themselves that the moass won’t happen because the 5th didn’t happen.** + +**And that’s really weird (and probably bullshit). Here’s why:** + +This was date rand(10,20) that turned out to be a dud. We are used to it by now. I for one like to be disappointed. + +Saying RC won’t do anything to kickstart the moass and only cares for GME customers is bullshit. The company and its chairman have a fiduciary obligation to act in the best interest of its shareholder. And that’s exactly what he said he would do at the last shareholders meeting. + +There is no set date for us. There is no set price for the moass. But it will happen. All the DD points to it. Will it go to 60 mil? I don’t think so. Then what price? No idea. I’m only going to sell on the way down and in my personal opinion I will have a pretty nice ROI. + +Oh, and saying that the longer this drags out, the less we can hurt the SHF’s… bullshit. The longer this lingers, the more painful it will be for them. More will be DRS’d. More shares will be bought by retail. + +And let’s say hypothetically the moass doesn’t happen. Then I have invested in a wonderful company with amazing growth potential. Imagine what would have happened if you would have invested in Apple 15 years ago. Or in Tesla a couple of years ago. Or in Amazon 15 years ago. We have invested in a stock which, in 10 years time, people will say “Oh if I’d only invested in GME 10 years ago. + +So quit your bitching, enjoy the ride to come. Wherever it may take us. + +**TLDR** GME is a great investment, with or without moass +Considering taking a job at NatWest Group as a software engineer, and obviously they list their benefits but my parents seem to think that if you work for a bank they will give you preferred interest rates on mortgages. + +I assume this was maybe the case when they were younger, but it is still a thing nowadays? +My current employer has recently announced they will be soon starting an employee share scheme which allows employees to buy up to £150 of shares per month tax free, they will also be contributing 1 share for every 6 that are bought... Its a very well established travel company, share price is currently 1436(was 900 at start of pandemic) and pre covid price was around 3600, does this seem like a good investment over the next 5 years or so, considering travel should resume in the next 6 to 12 months? +I'm currently interested in a 1 bedroom property (London, zone 2) that has a rent of £1500 pcm with 6 or 12 months term and one month deposit. The rent is a bit too much for me as utility bills, council etc. are needed as well. My budget for renting is actually £1500 pcm. So I thought I would try to offer the the landlord following: + +- Rent: £1300 pcm (or max. £1350) +- Deposit: £1500 (5 weeks) +- Term: 2 years with break clause after 1 year +- Additional: Pay on time, not smoking, no pets, single and no kids, clean and working professional in a safe job + +I get similar properties, but not as good as this one that also fits my personal taste, for about £1300 in Zone 2 actually, so it might be worth mentioning that the market is quite competitive. + +What do you think of this? Any other tips or ideas to spice up the offer? + +Edit: Why am I getting downvoted? wtf ... +Recently we almost in every thread that mentions children and child care there is small but vocal minority of people who go to real lengths to put down any parents or people who plan kids. + +I find it pretty offensive that people treat kids as "expanse". They are human beings and deserve respect like anyone else. Yes rising kids is expensive, yes it can put some strain on the family. But no it isn't financial decision. People are not "stupid" for wanting kids. It is natural human instinct. If parents can respect some people decision to not have kids, we can only ask for the same respect to our decision to have kids. + +Can I suggest adding it to rules that criticizing people for having kids is not allowed on this subreddit. + +We have this rule "No personal rudeness period. If someone says something you disagree with, respect the person. There is no tolerance for personal attacks or insults of any type, towards other sub members, article authors, etc." but for some reason it hasn't been implemented on rudeness towards parents. We are adults in here and adults DO have kids, criticizing people for that is just immature and childish. +I have a dilemma and I would like your input. +Many years ago I inherited a large amount (~7 figures) which is in a stock portfolio in an estabilished German bank, let's call it TheBank (I am based in Germany). +In the last years I have learned more about investing, my own risk tolerance and set my financial goals. +I have concluded that, while the portfolio has performed well, it is not nearly diversified enough and not to my liking. + +TheBank is in an expensive bank: 1% fees for trades below 50k, 0.5% above that, +and (the worst part) 0.2% p.a. fees for portfolios on top. Of course I am not happy with this. + +My dilemma is whether I should + +1) -Move the assets to some cheaper but reputable broker/bank, with flat fees and *no* portfolio p.a. costs. + +-Sell the majority and reallocate to a more diversified portfolio. + +Or + +2) -Stay at TheBank + +-Sell & reallocate to a more diversified portfolio. + + +At first glance it seems like a no-brainer: Leaving TheBank is the sensible option. + +However, I have reservations: + + +1) **The financial relationship is old**. + +My family has been with TheBank for decades and I've essentially been banking with them since before I was born. +They 'know' me financially, or at least they know that I don't 'splurge' even though this large +amount has been at my disposal for many years. +I am of course not being sentimental, rather I have a hard time estimating the value of a long-lasting relationship +with a German financial institution. Is there an opportunity cost when ending such a financial relationship? (e.g. better rates for a loan). The higher costs of TheBank are of course annoying and not competitive at all, but they are also not detrimental. + + +2) **The tax situation is opaque and possibly complicated**. + +The unrealized capital gains on most positions is significant (~60%+). +Most of these positions were bought before 2008 and thus can be sold tax-free under German law. +However, some positions where also partly or wholly entered into after 2008. +Hence, predicting the taxable gains is more complicated, +especially because I unfortunately do not have a handle on when and which transactions took place, since I wasn't controlling the portfolio. +I am worried that transferring to a cheaper broker/bank, they will mess up the tax calculation when I sell +and I will have no way of verifying it. + + +So what do you think? Is there an opportunity cost in leaving or is it negligible? Any other thoughts? + + +UPDATE: For anyone interested, here is the update after a month: + +* I discussed my plans with the bank advisor at TheBank. There was in fact no wiggle-room for better rates, and they were actually quite understanding of my wish to leave (not that they had *any* negotiating power, but still a salesman could pitch a sale...). + +* Given the above, I indeed transferred around 70% of the portfolio to a cheap but reliable broker. Most positions have been or will be liquidated and allocated in a much more diversified way, adapted to my own risk tolerance. + +* My fears about 'messing up' of the tax calculations were unfounded; everything worked smoothly and correctly AFAIK. + +* I plan to transfer and reallocate ~25% of the 30% remaining at TheBank. This will allow me to retain the financial relationship with them (albeit I might be 'demoted' from their "Private Banking" department). + +All in all, I think this was a good decision; thanks to everyone for their help! +Don't get me wrong apes I'm all for great news but how can we spend more than a year proving that MSM (that includes 🦊 obviously) is NOT on our side and is spreading FUD like herpes at a college dorm to then just start accepting MSM because we agee or like what they are saying?? + +Either MSM is a trusted source or it's not. + + +🦍💪😎 +Went to the bank to deposit my check so I can yolo it on some DD calls. Started talking to the guy at the bank about stocks and what not. He asked where he can get some good advice for investing. I said WSB on reddit. Never heard someone laugh so hard in a mask since the pandemic started. My bank teller now knows I’m a retard thanks you lovely dick heads. +Through a combination of good luck and a high paying job I am very well on the path to fatfire. + +My dad left me investments of ~£2.1 million and a furnished (now unoccupied) 4 bedroom in sw3. I am middle management at a FAANG, earning just over £14k per month after tax (~£310k annual) My expenses are £5k a month if I splurge. I have an additional total ~ £3 million in between ISAs, cryptos, VCTs and cash. I live outside London in the UK. £300k in my pension but I’m barely paying into that anymore. + + +I went to 3 boarding schools in 2 countries while growing up because dad moved a lot. Never really made any friends or learnt how to. At uni I went head down in my degree and ever since been in my company. I am just over 34. + +My social life basically sucks. Before the pandemic I used to travel every other weekend. Ever since I barely had any social interaction outside of work. + +I find it really hard to relate to people. I don’t flash what I own, but anybody I ever meet through gym or sports clubs (rowing and cycling) has struggles and daily routines that are far different than me and I find it hard to relate, or I guess I to relay anything they find relatable. In the occasion that they get clued up on my income I guess by looking me up in LinkedIn or whatever the relationship just goes cold. + +I used to drive a Porsche that I parked forever because I hated the way I was treated by friends when they saw it. + + +As things are opening up again I really want to change this but I have this painful dreaded feeling in my stomach that it’s gonna suck again + +For lack of a better word I want to find people I could relate to. I want friends who don’t necessarily see me as a cold distant cash loaded meat sack. + +I spoke to a therapist who said I should try and find people with similar income or wealth to me + +Problem with this is it’s really hard, if you don’t know people in tech they basically have no social life whatsoever so friends at work is not a thing + +Where do I meet friends and potential relationship partners who I could relate to? + +Here I am on a Saturday night just downed a bottle on my own I don’t want this shit no more +The DOW Sheds 939 Points and NASDAQ notches its worst month since 2008, per BusinessInsider. Each of the three major indexes capped off losing months, as of 4pm Friday 4/29/22 they stood at: + +S&P 500: -3.63% +Dow Jones Industrial Average: -2.77% +NASDAQ Composite: -4.17% + +With that being said, + +What are you buying come Monday morning? + +Personally, I'm loading up on VOO and JPM. Would love to hear what others are doing. +I’m 34, making $70k a year and have almost $14k in my 401k. I got a late start saving and didn’t open a 401k until I was 31. Due to financial issues, I haven’t been contributing for the last year and won’t be able to agin until June. + +At this point, I know I’m behind and am wondering how much I need to up my contribution to get myself back on track to retire around 65-67. + +Edit: Appreciate all the responses and advice, y’all. It’s a lot to take in and go over but I’m feeling less pessimistic than I was. +I'm delving into cooking and eating at various Michelin restaurants locally this year and probably the next as a focus point (can be enticed to travel to go within the US this year too w/ the right inspiration). + +What's your best fatFIRE experience/story when it comes to food (both cooking as well as restaurants) locally and internationally? +Yes, atobitt's house of cards DD is depressing as fuck. Yes the system is way more corrupt than anyone could have ever imagined and yes, a lot of major players are illegally suppressing the squeeze. That being said, I remain more confident than ever. + +* If the squeeze wasn't going to happen, shills wouldn't be here. They wouldn't be here telling you to sell. They wouldn't go around bribing mods or influencers. They wouldn't try to phish your broker passwords. They would just leave us to ourselves. + +* If things were going so great for hedgies, hedgies wouldn't need to be holding emergency meetings at 3am on a Saturday. They wouldn't need to be bailing out other shorters or suddenly issuing bonds. Also, why is Melvin not picking up their phones? Could it be that they've already gone bankrupt? + +* This isn't Retailers vs Wall St. This is Retailers and a part of Wall St vs another part of Wall St. Don't think you are going up against a behemoth all by yourself. There's a lot of major firms who are betting on the squeeze such as Blackrock and Ryan Cohen. Furthermore people from ALL OVER THE WORLD love the stock. It's not just us Americans who love the stock. There are more people who want the squeeze to happen and less people who don't want it to happen. The majority will win. + +* Kenny G has so many lawyers but still managed to hurl during the Congressional hearings. Does that look like a winner with nothing to hide to you? + +* The Government stands to lose more by supporting the shorters. Did any of you guys check out the capital gains tax? Depending on your state, it's anywhere from 35-50% total (lol California). Uncle Sam will gain as much as ~40% profits from all American retailers during the squeeze. That's a lot more enticing than letting a few firms who dodge taxes to collect it all. The current administration (shut the fuck up about politics) would love to have access to more cash to finance their goals and reforms countrywide. Honestly who could say no to free cash? + +* Again, if you are worried about the government siding with Wall St for some quick bribes, I don't think you understand just how easy their decision is. If they ground the rocket, then millions of people instantly lose faith in the stock markets. Millions around the globe. Everyone will just yank their cash from a crooked system and say fuck you. The stocks will tank WAY HARDER if Shitadel wins and that's not something they want to do if they want to win reelection. + +* If you're worried about the crash - it's not the first time and it won't be the last. The squeeze will happen, a bunch of firms will disappear, the taxpayer will once against bail out the country for the recklessness of Wall St and life will go on. Obviously the Fed will drive up the GPU demand to make their money printers print faster but life goes on. + +* Do you guys realize the original bet was that GME would go out of business? We are way beyond that. All debts have been paid off. Dividends are coming. Plans have been made. The team is assembled. It's happening RIGHT NOW. Ryan Cohen along with ex Google and Amazon board members are going to transform the company into something HUGE. E-shop, same day delivery, computer hardware, rentals, the list goes on and on I can't even keep up. The video game industry is LARGER than MOVIES AND SPORTS combined. Cohen will triple what he did with Chewy. Fundamentally this is a $500 a share company WITHOUT the squeeze. + +* The dominos have already BEGUN TO FALL. Archegos was the first. Now the rest are preparing for it. Forget about T+2. The squeeze could happen tomorrow, next week, the month after, or the year after. Time is on our side. BE PATIENT, grab the popcorn and laugh at the shills. + +And as always, remember to jack off. I'm not a financial advisor, I love crayons. +Years ago I saw a comment, I think in /r/news, about income inequality. The commenter complained that banks gave "a guaranteed 10% return" and special tips on penny stocks to their rich customers, which is why the rich keep getting richer and the entire system is corrupt and unfair. + +Can you top that? +Hello my little wombats of westfield. Been wanting to do my own dumbfuck discussion to learn about companies instead of the normal tactic of buying any ticker written on the page and someone wrote VAL so figured I'll do it on VAL:ASX. All numbers could be rounded up or down a bit. Open to all criticism, hit me with your best shot, this DD is basically perfect + +Name: Valor Resources + +Ticker: VAL:ASX + +https://twitter.com/valorresources - last updated Sept 4, **2019** lmao + +Previous Close 0.007 + +52 Week Range 0.001 - 0.0085 - Nearly the ATH - BHSL + +Market Capitalisation 19.8M + +Shares Outstanding 2.8 Billion with a B + +**What do they actually do?** + +Mineral exploration & prospecting - don't seem to actually mine anything - assume they sell the mining rights to things they find + +Cash in the pocket $870K while paying $200k in directors fees PA & $3million in expenditure in previous FY - no idea how they're going to kick the can down the road until VALOB (options B) comes due - looks like their only income previous FY was from selling assets + +Speaking of **VALOB**.. 400,000,000 VALOB options - strike price 1.5C expiring 31/12/21 = $6 million funding if converted - I'm retarded though as [this article](https://www.proactiveinvestors.com.au/companies/news/206045/valor-resources-offers-400-million-options-to-share-placement-participants-206045.html) puts that figure at $4.5 million - ya see why it's a dumfuck discussion I can't even do maths + +* 513.33 million shares in performance rights outstanding +* Directors hold \~239.9 million shares including options + +Read it here, those 2.8 billion SOI are rookie numbers, we've gotta pump those numbers up to 3.9 Billion SOI once all the options get converted - LET'S FUCKIN GO + +* Former Executive Director-Technical Dr Nicholas Lindsay left to being Technical Director at LKE (Lake Resources) recently +* Don't understand their deal with Skyharbour Resources because I got the reading age of an 8yo + +Anywayses here's the HOT ROCKETS 🚀🚀 you're all waiting to read about + +# Current projects: + +**~~BERENGUELA PROJECT~~** **- CANCELLED** + +Transfered the entities which hold rights to the Berenguela Project in Peru back to SSR Mining (the largest shareholder in VAL). The consideration for the transfer is the release and discharge of Valor's acquisition obligations including the release of outstanding amounts of US$10.8 million owed to SSR and relevant security interests. + +&#x200B; + +**Picha Project** (100% Valor) copper-Silver exploration project: + +Located in the Moquegua Department of southern Peru. Picha is a 2,000 Ha (previously 3,000Ha in 2020- no idea why it's 1/3 less now) hectare exploration concession. + +* 2021 plans are to follow up existing targets identified by the previous owner + +&#x200B; + +**BERENGUELA SOUTH PROJECT** + +5,100 hectares of 6 mining concessions + +Located in the Western Cordillera of the Andes within 5km of the Berenguela silver-copper deposit + +* Doesn't appear to be any current or planned activity here + +&#x200B; + +# ATHABASCA BASIN URANIUM + +**Hook Lake Project:** + +Expenditure commitments Year 1 C$750k, Year 2 C$1m, Year 3 C$1,75m + +High grade uranium mineralisation identified at Hook Lake Prospect reported up to 68% U3O8 from grab sampling. Which is **high**. What IS grab sampling I hear you not even asking - *"grab samples typically mean samples not collected under controlled conditions so the data may not be reliable and should not be used for .. decision making"* + +Pebbles identified 50-80m south west of the vein assayed 51% U3O8 and their ultimate source is **unknown** + +Pitchblende’s(fully owned VAL subsidiary) right to earn its 80% interest in the Hook Lake Project is conditional on Valor spending up to $400,000 over the next 6-9 months to undertake a preliminary assessment of the project. + +**If** Valor decides to proceed with the Hook Lake Project, it will be required to commit up to **$3.1 million** in exploration expenditure to secure its 80% interest. + +&#x200B; + +**Cluff Lake Project:** + +Located within the Carswell geological complex, host to the Cluff Lake Mine which produced ^((mine's exhausted as of 20 years ago)) 64Mlb U3O8 at an average grade of 0.92% (approx 9x global average - There is a [**300-fold**](https://en.wikipedia.org/wiki/Uranium) increase in the amount of uranium recoverable for each tenfold decrease in ore grade U3O8 and is located directly adjacent Pitchblende’s (VAL) Project + +WOW - sounds promising?? 🚀🚀 But just how big is it actually (Information sourced from 'Investor Presentation - Amended' 17/2/2021 + +**Claims sizes listed :** + +· 16 contiguous claims covering 25,846Ha + +· 18 contiguous claims covering 60,296Ha + +· - so which is it, is it 16 claims or 18 claims, or 25Ha or 60Ha?? + +Am I retarded, can't read, or they didn't even proof read their own investor presentation. + +One of the board members live in Saskatchewan so less impacted by travel restrictions and can actually go look at these holes in the ground of an unknown size + +&#x200B; + +**WTF are they up to at the moment?** + +* Reviewing previous reports & data +* Plan to develop an exploration model +* Plan to assess outcrops & samples +* Plan to make a list of priority drill sites + +&#x200B; + +*You are transparent. I see many things. I see plans within plans* + +I see lots of planning but not much doing the doing + +&#x200B; + +**Upcoming plans for March quarter 2021** + +* Finish reprocessing Canadian survey information & reviewing Canadian data +* Get an agreement with a geology firm in Canada to complete some work in 2021 +* No permits for Phase 2 ground work yet + +**Big Bottom Bears Hairy Beary Summary** + +Woof woof! + +In a few months you'll be calling me saying *"Who let the dogs out??"* + +This one looks totally speculative and hinges on finding any concrete results + +Anywayses I can't do math and don't have reading comprehension and this isn't financial advice. Before buying or selling stocks, crossing the road, or zipping your pants you should DYOR because I can tell you the above info needs someone more competant to look at it + +Disclosure: + +Held: No + +Planning to buy: Fuck no +Before I continue I would like to say this is LARGELY speculation, I in no way consider myself good at this kind of stuff ( I mean I'm a part of this group so that should say enough ) BUT I am bigly confident in my rationale in regards to this. + +Anyway, I'm pretty sure a LOT of ASX mining companies are set for lift off over the course of the next 3 years, something you retards probably already know but hear me out ok ? + +SO + +lets begin. + +&#x200B; + +Now we all can agree that electric vehicles are going to DOMINATE the auto industry over the course of the next few years, and were getting a nice little glimpse at what's to come. So lets talk about the obvious EV maker in the room. Tesla. + +These are the materials that Tesla need to produce 20million cars per year. + +**Graphite** \- 1,028,775 Tons + +**Nickel** \- 750,410 Tons + +**Lithium** \- 127,302 Tons + +**Copper** \- 1,820,000 Tons + +**Manganese** \- 20,811 Tons + +**Cobalt** \- 68,315 Tons + +**Aluminum** \- 3,380,000 Tons + +&#x200B; + +Now just imagine what those numbers will be once EVERY cunt and their dog wants to start making EV's. Maximum potential, Maximum tendies to be made. + +So what have I / am going to be doing over the course of the next few months ? go balls deep in mining companies that produce these materials, BUT not just any mining materials, no, more specifically ones that are specifically pushing their product to the EV market, and ones who are focusing on carbon neutral and just all round "eco-friendly" types. + +&#x200B; + +I'm still in process of looking for more companies in regards to some of these materials but here is what I have found so far. + +**Graphite - EGR ( EcoGraf ).** \- I'm fucking pumped for this one, These guys are focusing their attention towards the EV market, Carbon neutral AND there stock will be available to trade on the Frankfurt Stock exchange ( Under the symbol FMK I believe ) AND OTC over in the US of A. and we all know how those cunts behave when it comes to the stock market. + +Website - [https://www.ecograf.com.au/](https://www.ecograf.com.au/) + +**Lithium - VUL ( Vulcan Energy Resources ).** \- yeah yeah yeah I know this one has been "Pumped" already and I've seen the previous DD and you might think this one is over, but I would disagree and simply say its currently overvalued. I feel like I don't need explain what these guys are doing you already know, I just have a good feeling these guys will dominate when the time comes. Just wait until they start production. + +&#x200B; + +Website - [https://v-er.com/](https://v-er.com/) + +**Aluminum - AWC - ( Alumina ).** A focus on sustainability, World's largest supplier of alumina ( The stuff used to produce aluminum, they pay a dividend and their on sale right now, what more can I say ? + +&#x200B; + +Website - [https://www.aluminalimited.com/about-awac](https://www.aluminalimited.com/about-awac) + +&#x200B; + +Here are all the stocks you guys mentioned so far as of writing this. + + +**Graphite** : $TLG, $HZR, $MRC + +**Nickel** \- $NIC, $QPM + +**Lithium** \- $LKE, $INR + +**Copper** \- $LRS + +**Manganese** \- $EMN + +**Cobalt** \- $QPM + +**Aluminum** \- $FYI + +&#x200B; + +***For Batteries :*** $NVX + + +&#x200B; + +&#x200B; + +&#x200B; + +As for the rest, still need to do my DD and find some appropriate companies I wouldn't mind loosing my incredible fortune of $300 and a half pack of Winnie blues. + +Let me know what you guys think, and feel free to add any and all stocks that fit the criteria. + +If I haven't gone full retard then I will continue to post my findings, if what I said was dexie fueled gibberish and completely retarded then I will continue to lick paint off the walls and call it day. + +&#x200B; + +Obligatory "I'm not a financial advisor, take what I say with a grain of salt blah blah Rocket ship emoji diamond emoji hand emoji" + +&#x200B; + +Edit \* Yes I know I only added 3 stocks, I was hoping you lads would chime in with help discussing potential for the other 4. +I am curious to see what the group thinks of leveraging debt to buy more assets in this market. + +I am currently sitting on a lot of RE equity and cash. I am worried about inflation and am thinking of doing a cash out refinance of my vacation home and buying an investment property with it, to generate side income and act as a hedge. + +I have traditionally been a saver focused on paying down debt but now am considering leveraging. Anyone else in the same boat? Does this strategy seem sound? +Hello all, + +I have an accounting undergrad and will be pursuing my MS in Finance this next year. Afterwards, although I am not entirely sure where I want to work yet, I am looking forward to an intellectually stimulating and lucrative career. + +However... + +There is a lot, and I mean A LOT of negativity on the internet about the work-life balance in finance. A quick Google search turns up a number of financial professionals who have written about the horrors of regular 70-80+ hour work weeks, overly demanding bosses, and general unhappiness with their career paths. + +Now, don't get me wrong, I know finance is tough and I am prepared to work hard. But still, at some point in my life I want a family and time to pursue hobbies. I simply refuse to let work consume my life. + +So, I suppose the question I am posing to those of you in the professional world is how do you make work-life balance work? Are finance jobs with 40-50 hour work weeks that uncommon? + +Thank you ahead of time for your responses. + +tl;dr: I will be entering the financial world soon, and there is a lot of negativity on the internet about work-life balance for these jobs. Is it really that bad? + +EDIT: Thank you all for your informative responses. I really appreciate your willingness to provide me some insight into your careers. +Traditionally, i've just used cashiers check/ Money order and send it to the Tenants new address. Issues I have doing this method is it's archaic, bank charges $10/check, and liability of the check getting lost in the mail etc. + +What's the best solution you've come up with. Ideally straight from your bank acct to theirs. I've looked into things like Zelle, but they have a $500 daily max, also, it's only for select banks. +What's been working for you? +I know it's crystal balling, but what's everyone's thoughts around the stock market and a bubble? Do you think we'll see a major correction over the next 12 months? + +Thinking of buying a PPOR in 24 months, and not sure if a 6 figure deposit should be left in HISA or placed into VDHG. +Something that I thought might be worth mentioning again given the current downturn in the market is that you can contribute any savings you might have into your super fund, then lodge a [Notice of intent to claim a deduction](https://www.ato.gov.au/forms/notice-of-intent-to-claim-or-vary-a-deduction-for-personal-super-contributions/) form to your super fund before you lodge your tax return. + +Most funds should accept BPay with your account number, details should be available on their site. I'm making use of this given the market conditions and will contribute regular albeit small additional amounts in the coming weeks/months. + +In layman's terms this means that any post-tax contribution you make, as long as it's under the 25k concessional cap, can be treated as a concessional (pre-tax) contribution if you lodge the form above. This is equivalent to having salary-sacrificed that amount through payroll, but without the rigmarole of doing so. + +Also a good reminder to see if your employer is paying super regularly! +This is probably a pretty unusual post because you don't see many 14-year-olds posting in financial planning subreddits. But I have an unusually big interest In investing and finance as a whole. I have read a few books about finance and the biggest takeaway from them is compound interest so I want to start really early and get a big head start in life. Anyways here is my situation. + +&#x200B; + +Overall net worth - $13K + +Cash savings - $10K + +Investments - 1.5K (stocks and a bit of crypto) + +I Have a job that pays me about 400 - 550$ monthly and I usually put half of it into cash savings and the other half in investments. I am saving for an apartment that I can either rent out or live in, in my early '20s. My main question is should I be putting more of my money into investing than cash savings or vice versa? I am not an idiot that puts all my money into meme stocks I am actually doing pretty good I managed about a 5% return in the first 4 months of my trading career and now since switching brokers about a week ago I already have about a 5% gain. Thanks in advance for any input. +Where should I put my money every month to save for downpayment and get some good returns at the same time. Amount will be around 100k CAD overall over the next 1.5 years. I dont want to invest in equity/stocks due to the risky returns in that timeframe +I am new to financial planning and wanted to see what my options were about life insurance. I don’t plan on marriage or having kids, I don’t plan on wanting to leave my family any huge amount of money, and plan on leaving money aside for my funeral when the time comes. I don’t have any huge amount of debt outside of student loans. Would I still need to consider getting life insurance at any point in time? Would it be wise to purchase it at all? What would be the best option for the future going forward for myself? +My friend wants advice on how best to eliminate his 50k credit card debt. He's currently living off of social security, aged 71, supporting himself and his wife (was a housewife her whole life). The expenses that got him in this predicament are one-time events, he just didn't have the savings for them. Refinancing/HELOC is not an option for him. He is aware of the possibility of destroying credit, he doesn't seem concerned. This post isn't to request advice on how to curb spending habits, he's well aware he needs to live within his means. + +&#x200B; + +This is a request on how best to proceed forward to pay it down. He approached me to see if there's any credibility to using a debt consolidation service like national debt relief or one of their competitors. I did some research and found that they negotiate with creditors only after you stop making payments for a number of months to the credit card companies, and start depositing money in a savings account. This process destroys your credit, which he's prepared to do if it's the best strategy. He wants to know if there's a better way forward since he's on a fixed income, but lives on such a slim margin between his mortgage and living expenses, and his income. Is there an alternative method that some of you may have had success with? The minimum payments are far out of his reach as the credit cards in question are starting to go past their introductory interest rates. +I had to option call positions automatically close their selves with limit orders today that I personally did not put in and we're not to expire until April of next year but my account did become deficient for over $100 +because of a deposit that did not go through a week and a half ago from my bank account, will Robin Hood close my positions for having a deficient brokerage balance despite the fact that I have not touched the app in three weeks? +Why is the Taxation of debt funds and Equity funds are way different. + +**Minimum Holding period for Long term capital gains** +Equity : 1 year or less | Debt : < 3 years + +**STCG** +Equity : 15% | Debt : As per the tax rate of the investor + +**LTCG** +Equity : 10% | Debt : 20% + +I had often heard that one should choose debt funds over equity if their investment horizon is short-term, I understand it is for the volatility of equity - but looking at the taxation for debt funds, It doesn't sound like a right idea to go short term in debt instruments. + +Are debt funds really good investments? +So I’m relatively new to trading alt coins. I don’t have a lot of spare money to do so. I got a tip that a certain coin might pop off in the near future, so I wanted to invest. + +I did the typical MetaMask ETH buy -> Swap for the coin. + +I thought I could toss $100 into it as a small bag to watch. Gas fees for this? $200! + +Maybe I’m missing something, but how are you supposed to be able to afford to swap coins with gas fees like this? Is there a cheaper way of doing it that I’m missing? There’s no point of spending $300 to invest $100. + +Edit: It was recommended I add what coin I’m talking about, it’s $COMFI +I just lost $15k because of scammer crypto traders and I want to let everyone know. If anyone is ever approached by a guy named Roy Ethan, or you ever hear of a site called Access Market Pro, run the other fucking way and don't be a fucking failure idiot like me. This is the universes way of telling me I will never, and don't DESERVE, to be financially independent because I'm a stupid fucking failure. I'm destined to be a gear until I'm broken and useless. +[https://markets.businessinsider.com/news/stocks/hertz-stock-price-skyrockets-since-filing-bankruptcy-traders-global-holdings-2020-6-1029285231](https://markets.businessinsider.com/news/stocks/hertz-stock-price-skyrockets-since-filing-bankruptcy-traders-global-holdings-2020-6-1029285231) + +Headline bullet points: + +* Since filing for bankruptcy in late May, Hertz has surged 825%. +* That's not what investors normally expect for a company that declared it can't meet its debt obligations. +* Hertz has surged higher following a steady drip of positive economic data that points to a recovery from the damage caused by the coronavirus. +* While retail investors on **Robinhood** loaded up on the stock, billionaire investor Carl Icahn liquidated his entire stake at 70 cents a share, for a loss of more than $1.8 billion. + +&#x200B; + +Good job guys. Hertz is now a viable company again. Carl Icahn is a clown who bought high, sold low. + + +Talk about your plays today or things you are on the lookout for. This is where you belong if your comment includes a ticker. + +*keep it civil please* +So, as the title suggests. I Fucked up big time. + +I've been in crypto since 2017, been putting all my extra cash into the markets since then. Been active in communites and definitely confident about the future of crypto. + + (not an extravagant amount of cash, just a regular student) + +Ill skip to my fuckup. + +I had recently decided to trade using leverage, started small and "did my research". + +Today, I saw an opportunity with bitcoins sideways pullback and supports, and I was confident. Too confident. i bought in at 20x leverage, things were going well, i bought a bit above the bottom, and then bought in again nearly perfectly getting the reversal. + +Here is my series of mistakes that turned into a big fuckup: Normally ill judge the bounce and buy in again on the ride up if im confident, small fluctuations in price wont get me liquidated, wait, not get too greedy and close. + +I decided to use 125x leverage on my last buy. Dumb i know. but still, it was my smallest buy and i was confident in the returns, if theres a fluctuation, im fine with losing 10 bucks. + +I clicked 125x, didnt read the warning i got, ( after all, time is money) + +and then, something seemed off. I only had One position open. Then, tiny fluctuation, i see -50%, -80%, panic a bit and try to close. Boom, Liquidated. + +I didnt know that the Entire position goes 125x. + +Entire balance of over 3 years. wiped. + +Dont be as reckless as me. I't feels like shit. + +Im going to slowly try and rebuild.. Staying meathodical and being much more conservative with my risk. + +But fuck, this sucks. + +edit 1: [Didn't see these till after lmao](https://imgur.com/a/UY7wsse). Testament to volatility. + +Edit 2: Want to let yall know that i appreciate all the comments. I was fine with the loss after a couple hours, its just money invested in myself to learn and grow as a person and trader. + +But after that, A kind redditor saw my post and has helped me out with some sats to rebuild. I will do right, build a good position, and pay it forward. + +Love this community! stay safe and learn from my fuck up. + +edit: updated fact +I’ve recently learned that you can sell puts with much less buying power reduction in a margin account, essentially leveraging 5:1. If I used 75% of my cash selling these levered puts and the underlying gapped down a large percentage, I could be margin called. What’s a good rule of thumb for selling these levered puts? I don’t want to blow up my account. +It’s well known that REAs are some of the least trustworthy people on the planet, to put it lightly, but a recent experience got me thinking that there is systemic corruption within the industry that neither the industry nor government are interested in dealing with. + +Our experience: +We recently found a unit that fit our needs and were advised by the REA on first inspection: “Price guide is $1m but we expect it to sell closer to at $1.1m”. +So good so far - knowing the market is booming we estimated that based on info provided by the REA an offer of $1.15 - $1.2m could secure the property. +We obtained the strata report, at a cost, contacted solicitor to review contract, at a cost and attended a second inspection at a cost. Not to mention cost of our time. +When we were attended a second inspection prior to making formal offer, the REA informed us that an identical unit was sold off-market 2 months prior for $1.3m (I.e not publicly available info) and owner would not accept $1.4m in current market. Why the f*** then was he guiding $1m and expecting $1.1m? +This all occurred in the space of 5 days. + +The above experience is ofcourse only an isolated case, however it got me thinking that this may be far more widespread. How much money is wasted by unnecessary strata reports, building inspections, solicitor fees etc based on misleading info provided by so called property experts? This has to be costing unsuspecting people vast amounts of money. + +Seeing that neither the industry nor any regulator has any solution to the issue, and there is no real recourse - I was wondering if this type of systemic problem could be dealt with via a class action law suit against the REA industry body and a few of the bigger national franchises? + +The basis for any case would be that blatantly false/ misleading information is costing potential buyers millions in unnecessary due diligence costs/time. + +This is perhaps venting more than anything else, but wondering if the community had any thoughts on the validity of such a case? +Long story short, + +Phone got stolen, they were able to access my Binance app, transferred everything within minutes. + +£4k invested gone. + +Been meaning to use a cold wallet for some time, paid for my complacency. + +For anyone as stupid as myself I would recommend questioning having exchange apps on your phone. And if you do, don’t have the app linked to the same email account that’s linked to the phone, as any their will have access to all of the confirmation codes that come though. + +Money comes and goes. It sucks I didn’t get to see the recovery. I’m still on board with Etherium, but unfortunately my ride has come to an end. +Helllo fellow Eth-humans! Just popped by to remind you that this game is an .. **easy entrance to the world of cryptocurrency for many who are not as into cryptocurrency as you guys are** : + +CryptoKitties is one of the world’s first games to be built on blockchain technology—the same breakthrough that makes things like Bitcoin and Ethereum possible. Bitcoin and ether are cryptocurrencies but CryptoKitties are cryptocollectibles. You can buy, sell, breed or trade your CryptoKitties like they were traditional collectibles, secure in the knowledge that blockchain will track ownership securely. + +Your can read more here: +https://www.cryptokitties.co/faq +Hey everyone! + +I am thoroughly confused as to why they are dropping the price so much. + +I know people say it's to reduce FOMO, but I feel like they would need data to back up that this actually works. Else, they are making it cheaper to FOMO in and also cheaper for current stock holders to buy more and DRS. + +I mean I'm looking at the alternatives: + +- Let the price go up and make it harder for people to FOMO in / buy more. However, this may lead to a margin call if that target price is $200. + +- Keep the price the same, which really doesn't improve or lessen FOMO or buying (we doing regardless) + +- Drop the price and help people lower their average (I bought 4 today, it's not much but it's honest work), Get more stocks for our budget, and allow people to FOMO in when it's the right time at a lower cost. + +This also matches the MSM schedule of DON'T BUY GAMESTOP and STOCK SPLIT DOESN'T EXCITE SHAREHOLDERS (Narrator: It's not a split and it does) but I've still been able to send people information on the Stock Dividend and they are still buying. + +I guess what I'm trying to say is, is there any DD or Possible DD that I can take a look at for this price drop to figure out why they are stupidly dropping the price? + +Normally we can find out a reason for just about everything with our favorite stonk but for the life of me, I can't figure out why they are doing this. + +They literally borrowed a shit ton of shares to drop the price (looks at chart) 10%. Also, where the f*ck are these shares coming from? + +If anyone has any neat ideas on why they may be doing this, I'm all ears. + +HedgiesRFukd. DRS Your Damn Shares. 🚀🚀 + +Thank you all :) +These are the opinions of a person that comes from a culture very similar to that of Russia and you Westerners need to start understanding just how different we view things. + +Russia’s objectives was never to start an open conflict with Ukraine, it was to increase its influence in the region, particularly amongst the states that once formed the Soviet Block and due to the utter buffoonery of the United States, Russia’s plan is a bigger success than it could ever have hoped for. Let me explain. + +You see, unlike the USA, Russia and other eastern countries don’t view open conflict as a preferred solution. Why? Because we don’t treat war as a business model. We prefer cleaner, and longer lasting options. Just think about it, Russia has nothing to gain from going to war and almost everything to lose. Just look at their investment into the Nord Stream pipelines and how their GDP is dependent on oil and LNG exports and you know I’m right. + +The biggest mistake America and its Western allies always make time and time again with Russia and China is to think that conflict will always be a militaristic one, but in reality, trolling and subversion can have a far greater impact than any army ever could, and Russia, just trolled the fuck out of the US. By moving part of its army close to the Ukrainian border and acting somewhat hostile but not hostile enough for it to trigger open conflict, Russia was able to get a knee-jerk emotional response from the United States. This came in the form of rapid deployment of troops and the supply of armaments, but most importantly, it caused warmongering rhetoric from the current administration. And this, is what Russia really wanted. + +You see, Ukraine was always concerned about Russian aggression, but never concerned enough to cause widespread panic amongst its populace, and believe it or not, they are more focused on domestic and economic issues rather than Putin’s shenanigans. This is because unlike the 2014 annexation of Crimea, Ukraine’s current government is fully in control of the country and Ukrainians are more united than ever, so the prospect of a full-scale Russian invasion that will result in the deaths of millions will always be a microscopic one. + +But that is not what the US thinks. The US, thinking that conflict can only ever be solved through who has the most guns, immediately started beating the war drums and Joe Biden even went as far as to create a literal fucking date for the invasion which was originally this Wednesday before moving it to this Saturday. This kind of rhetoric is carried by the corporate media for the entire world to see and spread and fear and panic amongst global investors. That fear and panic got so fucking bad, it literally ends up causing the Ukrainian economy to go into freefall, costing the country untold billions of dollars’ worth of damages every day. It has now gotten so bad; the fear being spread by US media is now doing more damage than the actual Russians. Don’t believe me? Check out this chart of the Ukrainian Hryvnia to the USD. + +&#x200B; + +https://preview.redd.it/1e0baseu4ii81.jpg?width=1084&format=pjpg&auto=webp&s=aaf2c294d93911d58ba750b13f4e75a235a49b88 + +Want more proof? David Arakhamia, the leader of Ukraine’s parliament said the following: **"There is always a threat from the outside. But! Remember the escalation last spring? Today's situation is no worse than that - it's roughly in the same range, Why is the Western media making such a big deal out of it? It's hard to say,"** **Arakhamia remarked. Any surprises can be expected from \[Moscow\], we must be ready for anything, but not amplify panic.** + +**This is diplomat speak telling the US media to shut the fuck up.** + +Now for the icing on the cake, even the Russian Foreign Ministry put out a statement, asking Western media outlets to put out dates of which Russia will invade Ukraine so that Russian diplomats can schedule their vacations around it. They are fucking laughing at you. + +&#x200B; + +https://preview.redd.it/wsojif1v4ii81.jpg?width=1090&format=pjpg&auto=webp&s=3782d65f605dc599c79f9a96d7fab034ef943587 + +Don’t even make me get started on Ukraine’s own president trolling social media by posting that he expects an imminent invasion later this week, which he later clarified to be a joke designed to target the fear mongering caused by the US media. + +Now you might be asking yourself, why does this make Russia the winner? Because it damages US credibility and causes its allies in the region to question the ability of the US to protect their interests. Right now, the United States is causing panic that is crippling Ukraine’s economy and all Russia has to do is to say to the Russian population how justifiable its military exercises are because of how radical the West has become. Meanwhile, Ukraine and Russia are already hammering out a diplomatic solution without the US at the table. The Ukrainian president already heavily hinted that they will not be joining NATO, saying that a NATO membership is akin to “having a dream” and Russia in turn is openly supporting recognizing the Donetsk and Luhansk regions, both situated in eastern Ukraine as independent states, which mean Russian backed rebels will finally stop fighting Ukrainian troops. This would mean that not only, will Ukraine probably never join NATO, Russia just secured another buffer zone against the west via the formation of two new independent countries. Countries, that Russia almost have complete control over. + +What’s more is that other countries in the region are openly seeing the damage the US is causing and are most likely privately questioning whether or not it’s a good idea to get the US involved in their affairs if Russia decides to become aggressive again in the future, and they will. Why? Let’s say you’re Lithuania, a NATO country and Russia starts doing their ‘military exercises’ along your eastern border. You can call in the US, but if you do, chances are, the US is going to cause far greater economic harm than Russia ever could. So what are you most likely going to do? Call in the US and watch as their media tanks your economy or just sit down with the Russians and hammer out a diplomatic solution so you both keep chugging along and tell the US to fuck off if it pokes its head into your internal affairs? It’s not a hard decision. + +In summary, this is death by a thousand cuts. Russia is going to keep on chipping away at the faith ally countries have both in NATO and the US until they view these two things as borderline obsolete. So, without firing a single shot, Russia can eliminate, through time, NATO and American influence in the region all the while forming its own deals and alliances until it is once again the biggest player in that region. + +Another aspect as to why Russia has already won that is not discussed nearly enough is the imminent signing of the new Iranian nuclear deal. Ali Bagheri Kani, Iran’s lead negotiator just publicly stated that they are close to a deal with the US and that a signing is just days away. This info, combined with Biden’s recent statements that they are working hard to lower prices at the pump can only mean one thing: Iran is going to start supplying the United States with oil. Iran, in case you people don’t know, is one of Russia’s closest allies in the middle east. So as Iran is supplying oil at the pump, Russia is going to start whispering ideas into Iran’s ear, trying to use them as a middleman in order to push Russia’s agenda into Washington via shady lobbying dollars. + +Also, on a side note, Iran selling oil is really going to piss off the Saudis since they are sworn enemies. This matters a lot because Saudi Arabia, via an agreement in the 1970s, has agreed to trade their oil exclusively in USD, meaning the USD is NOT a true fiat currency, hence we can print so much without real consequence. This means the US needs to find a way to placate them. This would most likely mean the US will have to take part in additional wars in the middle east to help the Saudis expand their influence, so hooray for that. + +One last thing, don’t count too much on shale, Biden’s ban on drilling on federal land just got lifted in December and its unclear how fast US production can pick up. Apparently, betting everything on the multi-trillion-dollar BBB plan with inflation running rampant thinking the country can just seemingly transition to green energy is not the smartest thing to do. + +https://energyfuse.org/biden-abandons-plans-to-curtail-drilling-on-federal-lands/ + +In conclusion, you Americans need to understand that a large chunk of the world doesn’t think the way you do. While the timelines for your objectives typically last until the next election, ours can last years, decades, sometimes even generations if need be. Don’t be too surprised, our countries have thousands of years’ worth of history, while yours started not even 300 years ago. Everything you think of as unfathomable; we have experienced countless times. Revolutions, invasions, dynasties, even genocides. Time has taught us patience, and its time you learned it as well. +Hey guys, + +TL;DR - Hospital billed me $125 a few months ago for something I disagreed with, couldn't tell me why, referred a $425 debt to collections, then gave me a check for $425. + +-------- + +Last November, I had an MRI and an Xray done on my knee. I paid my $1500 deductible out of my HSA, and asked if I owed any more debts like co pay. They told me "no", so I went along my merry way. + +This July, I received a bill from the same hospital for $125. The bill didn't list the procedure, only an account number, and a provider who I didn't recognize. I emailed the hospital billing department asking for more information and never got a reply. I called their billing department, got a "Hello, [billing dept]?" and gave my name and account number and asked for more info and the lady hung up on me without another word. I emailed two more times and never got a reply. + +I didn't pay the debt because the hospital wouldn't reply to my inquiries about what it was I owed them money for. Eventually, they referred to collections. + +When I got the letter from collections, they actually said the debt was even more: $425. I wrote them a formal validation request and FCRA letter asking for all the proper documentation and notice not to contact me until then, etc. etc. + +That was 34 days ago and I haven't heard back from the collector yet. + +However, I *did* just get a check for $425 from the same hospital dated about two weeks after the debt would have been sent to collections. + +What it sounds like to me is that the hospital realized that they were billing in error after they sent it to collections and gave me a check to pay collections with. But I've never heard anything back from the collections agency. + +It seems like my correct choice would be to hold onto the check or cash it and set the $425 aside and give the debt collector a chance to validate the debt as I requested. + +So do I seem correct in my assumptions here? After what timeframe can I assume that the debt collector has decided not to pursue? What's the right thing to do with this money (I'm assuming it's not just mine to keep)? +Hi all, + +My mum is in her 60s and my parents divorced around 10 years ago. In the last few weeks my mum has been seeing a new man, originally from Egypt, but now living in the UK. They met through a local interest group, and have met for socially distanced walks in person. I think he may have also been to her flat. + +I live far away and don't have the best relationship with my Mum, so don't know more details about him, other than that he claims he used to be a pilot. + +I've just found out that my Mum has given him £2000 (from her small pension lump sum she recently got). She doesn't yet know that we know. Allegedly, his daughter in law is having IVF back home in Egypt and she couldn't afford it. My sister recently had IVF herself (which Mum's 'boyfriend' knew) so it's certainly something that would resonate with my Mum. + +My mum is also Bi Polar Type 2. Part of this means she is very careless with money. As none of us our allowed to speak to her consultant, were unsure if she has been formally diagnosed, and my mum usually refuses to accept that she has the condition, instead believing she has recurrent depression. She's currently in a hypo-manic phase. + +Further, my grandad recently passed away. Mum will receive a 1/4 share with the other 3/4 going equally to me and two siblings. She stands to inherit around £80,000 and her new man is aware of this. Me and my two sisters are executors (mum is not) for this estate, and I was wondering whether we can pay the money into a trust that we manage for her benefit, even tho this is not specified in the will. + +Please share your advice on how we should deal with this. Its very hard to know how we can stop this. + +We will speak to her about it soon, but we fully expect her to refuse to accept he is ripping her off. +I'm another new investor having only started investing late last year. My S&S ISA contains a number of funds mainly covering the UK and US with a little bit in Asia. All of my US funds are with Baillie Gifford. They cover specific sectors, but are all very US Tech heavy and I expected some of them to be quite volatile. + +Like a lot of people, I jumped on the bandwagon when US Tech stock started to rise rapidly. Though I only started investing towards the end of last year, I still made some decent gains. As we've seen US Tech stock descend, a lot of us have seen the value of our holdings fall as dramatically as they rose. My % growth for the year has gone from over 15% to less than 5%. Most of my BG holdings are now in the red. I would've sold them, but I didn't react quickly enough. Though the temptation was there to cut my losses I think it's better to wait for them to rise again, though I am prepared for this to take a long time. + +**Short term:** As mentioned, most of my BG holdings are now in the red. Despite the funds being actively managed, it seems BG don't dramatically change their holdings in response to market conditions, so any recovery may take a while. I expect I will continue to drip feed these funds to take advantage of lower prices. BG American was still blue, so I've sold it for now. I'll hold onto the cash from it and try to buy back once it dips further. Unlike the other BG funds, I expect American will begin to recover much sooner. + +**Mid-Long term:** My current mid to long term plan is to move away from higher risk funds. It's likely I will keep a couple of the BG funds, but move away from the most volatile, reinvesting in something a bit more predictable and/or that diversifies my portfolio more. Ultimately, I want to get to a stage where I'm not looking at my portfolio every evening and I feel comfortable just to leave it to do it's thing. + +All in all, I feel those of us who started investing in the last year or so have been quite lucky. We've seen a lot of dramatic events happen in a short space of time and it's been a valuable learning experience. It's helped me work out what I want from my investments and what I'm able to tolerate in terms of risk. It's also taught me not to respond to hype. + +One of the main reasons I'm posting this is I'm seeing a few panicked posts about how poorly their investments are doing. As we all know, the value of investments fluctuate. Tim Hale says we're our own worst enemy when it comes to reacting to stuff like volatile market conditions. It's hard to be patient when we've seen huge gains and losses in a short space of time, but I'm of the opinion that there's nothing to worry about and your investments will recover in time. + +What does the sub think of my plan going forward? How have you responded to the drop in the value of US Tech stock? +I'm looking to pick up some corporate bonds and after a lot of research I still have a few questions. + +Bonds from the co-op group seem to be incredibly undervalued for the interest rates they pay. I know the organisation is going through a lot of difficulties but are the current bond prices just reflecting the likeliness of them defaulting when the bounds reach maturity? + +The specific one I have been looking at is the [Co-operative Bank plc] (http://www.hl.co.uk/shares/shares-search-results/c/co-operative-bank-plc-5.125-bonds-2017) which matures on the 20th of Sept. This bond is currently trading at 90p to the £ so if my understanding is correct I could buy this now, wait 7 months and then reap maturity payment netting 10%? Between now and then there would also be a further 5% interest payment to boot. So my question is why are these less than £1:£1, is it just the chance that the debts won't be paid in sept? + +Similarly there is a [2023 bond](http://www.hl.co.uk/shares/shares-search-results/c/co-operative-bank-plc-11-2023) trading at less than half of it's original value but paying out 11% interest annually. Are these just that risky? + +Any answers or advice on good bonds to be looking into would be appreciated. +Disclaimer: I am no investing guru but I have been gradually building up a stocks and shares portfolio over the last 7 or so years. I have read plenty of investing books with my favourites being The Dhando Investor and The little book that beats the market. I take an active interest in most things personal finance and some elements of macro economics. + +As you may guess from above, I feel I land much more in the traditional value investing camp and avoid a lot of the high end growth and tech stocks. + +The reason for my post is I have been a member of a few crappy Facebook groups around 'investing' for a while which were pretty much dead until a few weeks ago but now seem to be buzzing with a flurry of new activity. + +Now I'm not suggesting this is a negative at all in itself, but I am SHOCKED at the amount of ill-informed and uneducated posts by novice 'investors'. I am worried that the current COVID situation, with the lack of normal places to spend disposable income, along with the market dip and new cheap trading platforms has created a perfect storm of a bubble. + +The recent market bounce has meant pretty much anyone dropping money into any equity has seen impressive gains in the short term, particularly those making stupid bets on high risk stocks. These new 'investors', many of whom are now giving advice and offering YouTube tutorials, seem to be encouraging more people to join them with their promise of crazy gains. I mean some of the questions and answers you see are really fucking ridiculous. Anyone who doesn't understand a spread, should not be touching the market. + +I'm not necessarily overly bearish on the medium term, but I'm worried market valuations are being heavily inflated by this new type of retail investor - many of whom openly admit to not using a practice account, reading a book or even knowing what an ISA is. + +I'm interested in anyone else's thoughts on this, how irrational is this market, if at all, and is anyone else concerned that we will see a crazy amount of real detrimental losses to a large portion of novice investors? + +Thanks. +I have been meaning to invest for years but I find deciding what funds to buy a little stressful, I alway start second guessing if I am buying the right funds or if I could opt for another one. So I have put it off for years + +I have some money that is getting a pitiful level of interest so I decided to start investing last week. + +I am buying the vanguard all cap fund and the vanguard LS 20 for bonds. I aim to get a ratio of 70% in the all cap and 30% in the LS 20. + +I aim to spend £300 per week for the 40 weeks buying these funds. Should I be doing something else? +I’ve made some good gains with Tesla over the past month, but there’s a lot of talk about this being a bubble. Is this only short term thinking though? + +The way Tesla is going (as a company), long-term it seems there’s a good chance this could become a very high-billion/trillion dollar company (I’m talking in 7+ years)... + +Does anyone else believe the same, or am I way off the mark here? +I have a few issues about daily discussion threads. I'll state those issues, the decision is up to you. + +&#x200B; + +1. They have huge effect on distributions: Daily threads receive tens of thousands comments in a single day and approximately 750.000 comments in a month. According to my calculations (\*not certain) they receive between 1/3 - 1/2 moons of the total distribution. **Numbers are based on my calculation. They can be wrong or right and they'll be change based on the activity.** +2. Issue: Upvote parties. Upvote parties occur so often in the daily threads. Moderators do their best but it's almost impossible to moderate a thread that receives 25-35k comments in a day. Most of those upvote parties remain unreported, even if they get reported the report result comes a little bit late due to volume of the sub, so even if they comment gets removed, their upvotes still stay with them. +3. Spam problem: This thread gets so much spam (shitcoin shills - ads - karma farming etc.). Again, most of those spams remain unreported and again, mods doing their best but it's almost impossible to moderate a thread that receives 25-35k comments in a single day. For reference, if the daily was its own subreddit, it would be in the top 5 subreddits for comments per day. +4. Off-topic posting: Off-topic posting is against the daily thread rules but still people keep commenting off-topic. This is also impossible to moderate due to high volume of comments. +5. Moon farmers: There are a lot of them. Some of them posts hundreds of comments in a day and some of them receive hundreds of karma in a single day from daily threads. This is a big problem. **Moon farmers especially choose daily discussion threads because the comment karma gets 2x (double) karma**. You can see them everyday in those threads with their hundreds of comments. Every. Single. Day. + +My solution: **Reduce the karma by 50% for the daily threads.** This will reduce the incentives for moon farmers and the volume of comments, so moderators can moderate more effective. This also will help balance the moons ratio. Thanks. + +<Posted on behalf of the original author per their request> + +[View Poll](https://www.reddit.com/poll/oylpp9) +**Seriously. Just pause for a second.** + +It's absolutely absurd. Over and over I watch as **MSM demeans and dismisses retail** as ignorant, while **pandering to those with money and power.** + +The exception being **Ryan Cohen**, an activist investor with **"the value proposition of delighting \[his\] customers,"** who is loathed for aligning himself with retail. + +How can you hate someone who is **trying to delight their shareholders and customers**? That's the definition of a **great business leader**. It's insane. + +**This is all the confirmation I've needed for nearly 2 years. And that's why I hodl. It's a big club, and you ain't in it.** +My wife has been charging a ton of stuff on credit cards unbeknownst to me. I have a good job , and she works (130k total, pretax), but this is unsustainable. We are both having health issues in our 40s. I have about 50k in retirement that she wants to use to pay down the debts. We have been married for almost 18 years, and she buys a lot of clothes and eats out a lot, mostly with her parents and the kids. We take nice vacations. But nothing that should account for this. She came to me about 3 years ago and said she had run up $20k, then a month later confessed it was 40k. I consolidated that loan in my name. Of course I was angry. She put the credit cards at the bottom of the freezer for a while, but apparently over the last couple of years she has been keeping them hot again. She has had mental health issues before, but acts like all is well. I have a small child, otherwise I'd divorce her. Should I file bankruptcy? What else should I do? +I'm going to be making the transition from working a 9-5 to full time trading. However once I do this I'm kind of worried I will have way too much extra time on my hands and go stir crazy. How many of you guys get a side job just to get out of the house? Or if not a job what helps occupy all your free time. +**\*\*\*\*\*\*\*\*\*\*I am not a financial advisor and this is not financial advice\*\*\*\*\*\*\*\*\*\*** + +Good evening, apes. I hate my wife. + +https://preview.redd.it/uymni9nt76w61.png?width=800&format=png&auto=webp&s=7f0c6a259106dd1ae9c9a5433bbd617280cc51d5 + +I come to you with just a tiny little update. This will be a very random update with my thoughts on the past few days. + +**FTD Cycle** + +Price-wise, the FTD cycle theory still seems plausible as we saw that nice increase on Monday. However, volume can only be described in one way: + +https://preview.redd.it/rvmni89q76w61.png?width=1200&format=png&auto=webp&s=f43d5a14f965b46f99b9355817ef43405e0e4af8 + +I am hoping for a large increase in volume well over 10M sometime soon. This seems more plausible, and I know I already said that technicals don't seem to apply to GME but I am a fucking simpleton and have no self-control, because of the fact that MACD has converged, RSI is still sitting neutral, TTM squeeze is ripe for some light blue candles, and IV is extremely low, which makes us ripe for a gamma squeeze. Also, I just wanna say that I absolutely LOVE all of the DD I see about elliot waves. I don't really consider these technicals, I more consider them law. I am not an EW trader (though I'd like to be one day), so I can't provide much DD on those. Nevertheless, I just wanted to say thank to everyone who does DD on EW because I absolutely love it, and it's in our favor right now. + +[What is the FTD Cycle?](https://preview.redd.it/lou9auwoa6w61.png?width=1398&format=png&auto=webp&s=7f2482840b33bf3beef9995c90b1f2c09d03bf71) + +Both IV and volume are extremely low right now. Volume is disturbingly low. I am honestly shocked at how low it is. Our current setup says to me that volume just needs one thing: + +https://preview.redd.it/welu8bns86w61.png?width=500&format=png&auto=webp&s=e70b82f55c80e57286be070749fbda837d7e4377 + +So yeah, I'm just waiting on a little push. It's also very strange to see so many of these days where we have minuscule volume and low price changes. With all of these low price changes, I think there's a chance that we are still in that giant triangle and have yet to break out of it because it seems that our uptrend patterns are getting smaller and shorter and our downtrend patterns are getting smaller and shorter. + +As I've said many times before, SPY and GME seem to have an inversely proportional relationship probably because funds have to sell off other assets when they cover GME. Well, thankfully SPY seems more oversold than ever right now (1 week chart): + +https://preview.redd.it/a7arsiqy96w61.png?width=1642&format=png&auto=webp&s=e52d153f3c19b1cc8db10b325c40a32fc8022ca8 + +Also absolutely hilarious that SPY might have resistance at 420.69. I hate to be a bear but this price is just unreasonable right now. Yeah, earnings have been good, but the market is pricing stocks like the recovery has already happened completely. I call BS. + +**Something interesting** + +You've all probably noticed that GME will spike up randomly in any given day. I've been noticing that a lot this week especially. Well, for the past two days, there have been these massive volume spikes around 1pm. It's very strange because it's the biggest volume candle for each of those days. + +https://preview.redd.it/xdn4vvmob6w61.png?width=2050&format=png&auto=webp&s=5d5c4ad13842d8bee5cf8ad3153452bfd85ae748 + +What does this mean? I'm not too sure, but it's definitely strange. Could it be shorts covering SOME of their FTDs just so they don't bleed out? I don't know. Could it just be a coincidence? My answer to that is a resounding no. Why? First, I looked at boomer stocks like SPY, AAPL, MSFT, etc. to see if it was just a market-wide occurrence. Nope. But do you know who else it happened to today around 3pm? AM fucking C: + +https://preview.redd.it/rwi7lcg6c6w61.png?width=1428&format=png&auto=webp&s=d3c1dc74723f744bfe8fe8381c48bc77dfcb26fa + +Now that's just weird. Two stocks that we believe are abusively shorted both having their highest volume candles (green volume) in the second half of trading days around the same time while the rest of the market doesn't? Seems very fishy to me. I've been looking at their charts and this happens a lot (as you've probably noticed). What I theorize is that this could be shorts covering the bare minimum to stay alive. I have no evidence to back that up but it's just a theory. + +**A question** + +Apes, I usually come to you with knowledge, but now I am asking you FOR knowledge. So for the past few days I keep seeing OTC and OTCBB bids for GME that are above $10,000 (I saw one for 29,000). These aren't just random, I've been seeing them for weeks and they come at random times throughout the day for like 10-20 minutes. Does anyone know what this could mean. Do the OTC markets represent dark pools and if so, what does this tell us? At first I thought it was just some dick face trying to fuck up the spread, but it just doesn't make sense that I keep seeing this every day. Anyone have anything there? + +**FUD alleviation** + +Apes, I know that waiting sucks and it creates FUD in your mind. When the stock isn't moving and going down, it's very easy to become uncertain. I feel this too. However, anytime I catch myself thinking that it's either A. not going to happen again or B. we're wrong about short interest, I think of two things. 1 DFV doubled down even though he could retire in luxury right now. 2. GME's chart is not behaving like a non-manipulated/shorted stock. I'll echo what I've said in other DDs: + +"It is not normal for a stock double in the span of a few hours on news of a CFO getting fired (2/24). It is not normal for a stock to open at above 250, go to 350 before noon and then fall down to 172 all before 2pm on absolutely no news (3/10). It is not normal for a stock to tank on earnings and then literally make back those losses the very next day on absolutely no news (3/25). It is not normal for a stock to double on news of the CFO being ousted but to go down 5% on news that the key player (Cohen) is being announced as the god of the board of directors. It is not normal for a stock to stay above $150 when every Wallstreet analyst says it's not worth more than $50. It is not normal for a stock to have a negative beta. It is not normal for a stock to fluctuate in value by 10x over the span of a few months (up AND down) on very little fundamental news. It is not normal for multiple forums talking about the same stock to be infiltrated repeatedly by suspicious accounts trying to create FUD (i.e. shills really on exist on forums discussing GME, not regular retail investing forums like [r/investing](https://www.reddit.com/r/investing/) and [r/stocks](https://www.reddit.com/r/stocks/) (which I am banned from hahahaha)). It is not normal for a stock to be universally hated by mainstream finance yet still be trading over 3x what they believe the fair value to be. It is not normal for a stock to get squeezed, fall back down, then almost regain its squeeze price on no fundamental news. I could go on and on." + +Stay strong, apes. + +https://preview.redd.it/vk9js5rzd6w61.png?width=538&format=png&auto=webp&s=3bd80a7e2f883b365a901f126e85c151ce99b7f2 + +**\*\*\*\*\*\*\*\*\*\*I am not a financial advisor and this is not financial advice\*\*\*\*\*\*\*\*\*\*** +I've been renting on an apartment complex with 280 units. I have a 1 bedroom apartment and I pay close to $4000 a month. The startup I work for is having financial difficulties and I haven't been paid my last salary. + +I've been living in this apartment complex for the last 30 months. My lease was renewed in may 2015 for another year. Leases cannot be longer-term so every time I had to renew it increased 10-20%. + +Now that things are going south, I cannot afford living here anymore. + +I've paid this month's rent and turned my 30day notice but they presented me a lease addendum contract with 2 options: +- pay $6500 right now to break the lease contract +- become liable for the rent (without being allowed to live in my unit) till someone rents it. + +I don't have $6500 siting in my bank account and the alternative seems like a joke. They even have a clause that says that if they rent it below the price I'm paying I'm liable for the price difference till the end of my original lease (May 2016). There's no clause preventing them to raise the lease to a rate that no-one will be willing to rent it. + +I didn't sign or agree to any of the options but they emailed me saying that if I don't pick one it will default to the second option. + +I'm moving back to my country in 2 weeks and the salaries there won't be even close to what I was making in SF. I want to leave things in order but I have no clue what to do. + +Any advice would be greatly appreciated. + + +Edit: thanks guys for the overwhelming response. +I'll try to summarize the key points for people in similar situations. + +- if you have a reasonable landlord, discuss the issue ASAP. In my case, I'm sure if I had given a 60 or 90 day notice it would have been easier to find a new tenant by the time I leave. +- if you are planning to break your lease, law is against you. Plan ahead and expect 2 months worth of rent as penalty. +- do your best to line up a new tenant by the time you leave and work with your landlord to make it happen. +- landlords are obligated to do everything possible to put your unit to market so you shouldn't get screwed deliberately if you are dealing with honest management. With that said, work with them and make sure your unit is being listed and keep an eye and get in touch often to see if it's getting rented or if you can do anything to help make it happen. +- foreigners working in the US with a VISA might think about just leaving the country and forget what happened. Your debt might end up in the Civil court and you will be guilty by default. It will end up in your record and might backfire if you ever comeback to the US. Forget about working in the US. Visiting the US as a tourist might be also risky. Life is a long path and you never know where you are going to be in a few years but writing off a country like US forever to avoid terminating your lease in good faith seems extremely stupid. + +On a final note, everybody pays less rent than I do. That's the price engineers pay in Silicon Valley to let you spend all day long on your phones using Google, Facebook, reddit, and what not. Enjoy it. + +# What's Happening with Certified Financial Planners? + +[Beginning in October 2019, all CFPs will be required to act in the best interests of their clients at all times when providing financial advice.](https://www.investmentnews.com/article/20180329/FREE/180329902/cfp-board-expands-fiduciary-duty-for-financial-advisers) While many CFPs already operate this way, CFPs are currently only required to act as a fiduciary when helping clients with financial planning. + +# The Opposition + +This is a very good thing for investors working with CFPs and probably a good thing for investors in general, but what really struck me is the list of companies [responding in opposition to the new rule](https://www.cfp.net/docs/default-source/form-uploads/multi-firm-response-to-cfp-proposed-standards_final-020118-20180202-1730.pdf?Status=Master&sfvrsn=0 +). Technically, these companies only wanted to delay or limit the scope of the rule, but don't kid yourself, *they did not want this to happen*. And it's a virtual "who's who" of financial firms milking customers for money: + + - Ameriprise Financial Services Inc. + - Morgan Stanley Wealth Management + - LPL Financial + - RBC Wealth Management US + - Wells Fargo Advisors + - Edward Jones + - UBS Financial Services Inc. + - AXA Advisors + +This one is a little murkier, but there was also a [letter from Financial Services Institute (FSI)](https://www.cfp.net/docs/default-source/form-uploads/c-users-tstifel-desktop-fsi-comments---cfp-bd-revised-proposed-code-of-ethics-and-standards-of-conduct-20180202-1824.pdf?Status=Master&sfvrsn=0). They also [opposed the DOL fiduciary rule](https://www.investmentnews.com/article/20180925/FREE/180929947/fsi-celebrates-death-of-dol-fiduciary-rule-praises-sec-advice-rule). Current employers of their board members include: + + - Raymond James + - Wells Fargo Advisors + +And who sponsors FSI? There's a long list of horrible investment companies, but I'll just list out the top two sponsorship levels: + + - Broadridge (former brokerage arm of ADP) + - Fidelity Investments + - BNY Mellon / Pershing + - American Funds (Capital Group) + - Brinker Capital + - Envestnet + - Prudential + - Preferred Apartment Communities + +I was a little surprised to see Fidelity listed as supporting this organization. I've long said I don't 100% trust Fidelity (especially their financial advisors) to be looking out for individuals, but this is seriously bad company to keep. + +But wait, there's more! The [Securities Industry and Financial Markets Association (SIFMA) wrote an opposing letter too.](https://www.cfp.net/docs/default-source/form-uploads/c-users-tstifel-desktop-sifma-comment-on-reproposal-final-20180201-1449.pdf?Status=Master&sfvrsn=0) Board members come from such companies as: + + - Broadridge + - Wells Fargo Advisors + - Morgan Stanley + - Edward Jones + +And I don't want to leave anyone out here. Another letter urging delay came from The [American Council of Life Insurers (ACLI)](https://www.cfp.net/docs/default-source/default-document-library/acli-to-cfp-board-standards-of-care-letter-final-2-2-18.pdf?Status=Master&sfvrsn=0). I'm not going to list out all of the life insurance companies that peddle life insurance as an investment, but the ACLI Board Chair is the Transamerica President & CEO Mark Mullin. Transamerica is the parent of World Financial Group. + +# Supporting + +In contrast, NAPFA (an association of fee-only financial advisors) wrote a [letter of support](https://www.cfp.net/docs/default-source/form-uploads/revised-cfp-standards-comment-letter---napfa-020218-20180202-1556.pdf?Status=Master&sfvrsn=0). + +There were also a slew of individual CFPs writing letters in response to the proposal. I'm not going to try to summarize those given the sheer number of letters, but I did read a few letters in support of the new fiduciary standard (nowhere near a scientific sample, though). + +# What Does This Mean for You? + +A lot of people here recommend learning enough about investing so you can manage your own investments, but if you find yourself in a complex situation and in need of professional help, read the [wiki article on financial advisors](https://www.reddit.com/r/personalfinance/wiki/financialadvisors) first. + +You also don't need to wait until October 2019 to get trustworthy advice. Many CFPs are members of NAPFA which already requires their members to always act in the best interests of their clients. + +And be wary of financial companies that are actively working against your interests. + +**TL;DR: Wells Fargo Advisors, Edward Jones, Morgan Stanley, Raymond James, and Fidelity (?!)** +I originally got a SFH house hack loan through through Fairway Mortgage company (a mortgage house) about a year ago. Since then, my property has appreciated substantially. + +I have a friend who bought their home around the same time, who was able to remove PMI simply through appreciation. I’m very interested in this. + +My lender has since sold the mortgage, and is now a typical Freddie Mac Loan. Has anyone had experience with this? What’s the best approach to getting a reappraisal to remove PMI in this situation? + +Please, ask questions if you need more info. + +EDIT: I’ve contacted my loan servicer and they provided me with the PMI documents. I am allowed to use Current value as equity, but I MUST MAKE PAYMENTS FOR TWO YEARS before I can remove PMI. + +Here’s to hoping prices keep going up in Boise! +Let's say you don't have a place to live and buy a condo for 500k. The fees incurred by the process of buying and selling it like realtor comission, +as well as HOA fees, the interest component of mortage +payments, and property taxes add up to 50k over 5 years. +Let's say after 5 years the price has only appreciated to 525k (a very conservative +estimate of appreciation in most cities), so by selling you've lost 25k overall. + +But let's say you you stay in an apartment paying $1000 in rent monthly. +Then over 5 years you've lost 60k! + +In the large majority of cases it seems like rent paid over a period +will always exceed the costs of buying and selling a condo. + +Is my thinking here correct? I am really new to real estate. +Curious to hear from the community on this. I am concerned that there are people doing Airbnb arbitrage (rent long term then rent on Airbnb) and investors in short term rentals that are feeling serious pain. How long can you all last with no rental income and what are you planning next? +I am buying out a family member of a jointly owned house. It’s a 2 family and one of the units has opened walls no kitchen/bath, unfinished electric. We started working on the renovations over the summer and filed our loan application around the beginning of August. +The renovations have taken longer than expected +This week I let our mortgage broker know we estimate that the property will be ready for appraisal at the end of October. + +He is shocked that the renovations are taking us so long and that the bank will close our application and we should have told him it would be this long and he would have waited to file our application, he is saying if they close our application we will have to pay $1090 again to open it and file a new one. + +I’m curious how reasonable this all is, if we confirm with the bank that we are still intending on obtaining lending will they hold our application? + +Should we have the appraisal from the bank come even though there will be tons of things wrong and we will have to re-appraise? (Cheaper than the loan app) + +FYI We are using a stated income refinance loan. +[This post was locked](https://www.reddit.com/r/fatFIRE/comments/r4i2r9/opportunity_to_buy_preipo_shares_in_spacex/) by mod so I thought to start a new one only because I was surprised by the lack of due diligence by both the poster and the commenters. A quick google search yielded this excerpt from a [CNBC article](https://www.cnbc.com/2021/10/08/elon-musks-spacex-valuation-100-billion.html) from Oct 8: + +**SpaceX has an agreement with new and existing investors to sell up to $755 million in stock from company insiders at $560 a share, according to people familiar with the deal.** + +[Further search](https://finmasters.com/how-to-buy-spacex-stock/) yields info on how to buy Shares: + +You may be able to buy SpaceX shares through these marketplaces. + +* [Forge Global/Sharespost](https://sharespost.com/rivian_stock/) is the product of a merger between two major pre-IPO marketplaces. The minimum investment is $100,000. Some shares may have higher minimums. Potential buyers may need to pass a qualification process.   +* [EquityZen](https://equityzen.com/company/rivianautomotive/) acquires pre-IPO shares from early investors and employees and makes them available to qualified investors. There will be a qualification process and the minimum investment is $10,000, potentially higher for some shares. +* [SecFi](https://www.secfi.com/products/for-investors) specializes in linking outside investors with employees who need to liquidate their stock options. + +On the face of it, it appears the ask ($650/share + 3.8% + 2% annual + 20% carry?????) in the original post is a bit scammy. Consider this post more about doing basic research than about SpaceX. +Given the recent news about crypto, laws, & NFTs, I feel like this old post I made is more relevant than ever: + +I was high as a kite; thinking, and this occurred to me. [I was examining this whole Gamestop situation from a macro level and considering the possibilities.](https://gfycat.com/sleepyangelicgiantschnauzer) + +What are the ramifications? How will it affect society? Who will benefit? Who will lose? The conclusion I came to is this: ***we are about to witness one of the greatest shifts in humanity since the internet.*** Considering the internet is what made this possible, that's saying a lot. I believe in the grand scheme of things, the squeeze is only the second most important outcome. + +At the root of this fiasco is **trust**. We *trust* the government to regulate a free market, we *trust* no bad actors are rigging the system, we *trust* the DTCC & SEC to do its job. In order for society to properly function, citizens must trust these institutions, and by extension, its currency. The trust, we the people, have in the government is what allows a peice of paper to have value. + +But what happens when that trust is undermined? And worse, *by the government*? If people have no faith these institutions can fairly function, they become ponzi schemes. They take your money, swear they are behaving in your best interest, and proceed to fuck you. We are paying for the glorious honor of having our pockets picked. The government is complicit in the robbery, and as such, can not be trusted. + +A solution must be found to do the job of these corrupt institutions. That solution is blockchain. With blockchain there is no need to question if the market is fair, if institutions work, if bad actors are defrauding you, because everything is transparent. + +When I said a changing of the guard, I didnt mean rich people (hedgies) and poor people (apes). I meant who we put our trust in. Old institutions (banks) vs new institutions (tech). In the status quo, we trust corrupt institutions, but that trust has been betrayed everytime. Banks and middlemen like the DTCC are becoming a relic of the past. They are filled with corrupt and greedy individuals that rig the system in their self interest. + +A few weeks ago, I watched this video: + +[Jamie Dimon 2021 letter to shareholders.](https://youtu.be/jtLKXQ9i6oY) + +Its been in the back of my head ever since. After looking at this from a macro level, I finally understand why. At 1:47 the reporter quotes Dimon saying, **"Silicone Valley is coming to eat the lunch of Wallstreet."** + +Bankers, like Dimon, are a relic of the past. Banks are middlemen we put our trust in because there were no alternatives. 08 was a great example of them trampling over that trust. These institutions are corrupt and fallible and have fucked the economy and the average Joe at every opportunity. + +**However!** Thanks to technology, we no longer have to subject ourselves to being swindled by middlemen like Jamie Dimon. The new guard (tech) will fill the role of these corrupt, boomer, institutions. If we cannot rely on banks, government, rating agencies, and other financial institutions to behave in the public interest, they will be done away with. Either properly enforce the rules, root out corruption, and guarantee a free market, or you will be left behind. We the people will not participate in a rigged market. Equality or extinction, those are your options. Otherwise, as Dimon said, Silicone Valley will eat your lunch. + +**YOU NO LONGER HAVE A MONOPOLY ON TRUST!** How will your bank fair when fintech creates a better alternative? Why should I give you my money when blockchain offers a better ROI, doesn't discriminate against minorities, and is free of fuckery? For the first time, you will have to compete for the customers you love to defraud Mr. Dimon. + +Exciting isn't it? I can't wait to see what the future holds. On a macro scale, the squeeze is not the most significant event, its what happens *after* that is. Will banks, government, and financial institutions get their shit together or will they be abandoned? They no longer have a captive audience that has to give them money. + +**TL;DR:** **THE FUTURE IS NOW OLD MAN!** Guarantee your institutions are fair and free of corruption, or they will be done away with. + +The day of the MOASS will signify a new age. We will transition from the information age to the age of trust. Trust, transparency, and fairness can be written into code, technology, and institutions to abolish corruption and bad actors. You cannot bribe or rig a mathematical formula in the interest of your hedgie friends. Gentle Apes, buckle up, the MOASS is the start of a new age for humanity. Our destination is the stars, the possibilities are endless, prepare yourselves. +Edit : I sold today when it went back up to 260. See my comments on this thread: http://np.reddit.com/r/ethtrader/comments/6jp2j9/im_not_selling_update/ + + +I have to admit. Right now I am scared. + +I am 20,000 in debt currently with 88.88 ether. I did all the calculations this morning including taxes. + +I logged into Gemini and saw the price was currently 260. With my current assets minus liabilities if I sold at 260 that would leave me with 0 debt and about $1500 to my name. + +This was very tempting. I even plugged up my ledger nano s and did a test transaction of .001 ether to gemini. I almost pulled the trigger. + + +I am not selling my ticket to the moon, even if it breaks me! + + +We are hitting 500 guys and gals. Do not let this FOMO on this sub get to you. EEA3 is right around the corner, so is the cash inflush from GDAX (which who knows how long that could take) + +Also we have been getting a lot of mainstream media attention lately. You know most new buyers go to coinbase and how long it takes to get verified. Also once you get verified how low the buy limits are. Lots of new fiat will be entering the market soon. + + +HODL! +I've seen the same post so much it hurts my retinas to see it alert over my phone screen...buy now or wait for dip...well, here you go, a nice dip on a platter for all those asking! + +Now, BTFD!!! + +XD +Bitcoin enthusiasts have been saying for years it won’t ever happen, and they have had good reasoning behind that too. All coins seem to work in tandem with Bitcoin so why would one of them take over Bitcoin? + +With the crab market we’ve seen from Bitcoin for the last day or so, whilst Ethereum soars is an indicator that Ethereum may finally be moving independently from its big daddy(although it’s too early to tell whether this will continue). + +**The flippening may be starting today.** + +I’ve long positions in both Bitcoin and Ether, but markets in the next week may make me dump my Bitcoin for good in favour of Ether. + +What do you guys think? +Welcome to the Daily General Discussion thread of /r/EthTrader. + +*** + +Thread guidelines: + +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All [sub rules](https://www.reddit.com/r/ethtrader/about/rules/) apply here so please be familiar with them. + +*** + + Resources and other information: + +* Find the latest Altcoin Discussion thread in [this search listing](https://www.reddit.com/r/ethtrader/search?q=author%3Aautomoderator+title%3Aaltcoin&include_over_18=on&sort=new&t=all). + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! + +Pretty much all my friends are bad with money, we’re all in our early twenties/late teens, and none of my friends can seem to keep any money in their bank accounts. I’m very particular about where my money is spent and really don’t like to partake in some of the things they do simply because it costs a decent amount of money. I’ve told them before that I just don’t want to spend the money, and they respect my decision but are assholes about it with offhanded remarks here or there. Which **DOES**get annoying after a while. + +So I’m considering the idea of telling them all I’m broke. I’m putting all my money into my emergency account right now so my checking/savings accounts are relatively low. I don’t want to mooch off of them or anything, I just want to deter them from asking me to spend so much money with them all the time. + +Thoughts? + +EDIT: My money is being saved because I'm about to become a real estate agent, and since I'm going to work on that full time, I'm trying to save up enough money to cover any bills and stuff until I can build up my business. Should have clarified! + +EDIT 2: Whoah, these are a lot of replies! Sorry if I don’t respond to everyone, all the advice/perspective is really helpful. + +EDIT 3: I think I’m just going to be honest with my friends and tell them I can’t afford to do certain things and that it doesn’t work out for my budget. If they don’t accept it then that’s that. Time to move on. I’m also going to find more people with a similar mindset, I definitely think that will help out in the long run. I’ll be doing that regardless of the outcome of me telling my friends my situation. + +I’ve also realized from some of you all that I should also develop more of a backbone, and I agree. I notice that I don’t stand up for myself as much as I need to and I’m not going to get anywhere if I can’t do that. So those are my takeaways, and another thing, I didn’t clarify this before but I do spend time with my friends and I do spend money with them. The issue is that they spend money SO MUCH that it’s just a bit much for me. +Let me clarify this immediately : noone's jumping ship from GME to AMC. + +Actually, isn't the fact that AMC is skyrocketing even more confirmation bias? + +We're seeing live what GME is going to look like soon. We're also witnessing what many apes predicted the past couple days : AMC is squeezing first to make us waiver and doubt. + +But we're more retarded than that, aren't we? Our brains have juuuust enough wrinkles to watch that and go "haha AMC go brrrrr, GME GO BRRRRRRRR NEXT" + +To me, seeing GME get closer and closer to the 300 mark is nothing but a nostalgia hit. It reminded me of what we've gone through to get here. It's been a long trip but the sun is setting for Citadel and Co, and rising on the Planet of the Apes. + +We stick with our favorite ticker, we hodl and vote and wait for the rockets to launch us into space. + +Be strong, fellow apes, we're in this together until the end! +https://www.cnbc.com/2021/06/11/amazon-to-overtake-walmart-as-largest-us-retailer-in-2022-jpmorgan.html + +Amazon is on track to surpass Walmart as the largest U.S. retailer by 2022, J.P. Morgan analysts wrote in a note published Friday. + +Amazon's U.S. retail business is the "fastest growing at scale," the analysts wrote. + +After 9 months of consolidation, amazon should be finally able to break out. AWS and advertising keep growing, and amazon shipping operation can now challenge UPS, Fedex and USPS. For e-commerce, it is still a leader that none of the any other company can match or catch up. For the past 2 weeks investors were slowly rotating back to the established growth big tech stocks, so amazon should be able to break ath this month. + +Thanks for the awards. +I'm new to algo trading, so I'm asking this community to check my first strategy before I start building it out. I'm probably not the first person to think of this so any research or resources you guys can offer at all would be appreciated. + +Trading Environment: +I have settled on using interactive brokers api and python to build this out. I'm skilled enough in python to do most of the data fetching, back testing, and QA/TA with different models or other services, so I'll probably just use interactive brokers api to get real time data on lists of stocks and execute the trades. Would this community recommend any other brokerages or api tools? Also I'm working on a windows 10 environment. + +Strategy: +So I don't know if this has a name or anything, but the idea is pretty simple. The program would keep a close eye on top gainers in pre-market trading and make purchases on the top 10 stocks by %gain either right at 4am, or a few minutes after once patterns can be found. The program would watch the top 10 and sell out of anything that falls to #11 replacing it with the new #10 holding stocks 1-9 till market open. Then once market opens +/- a few minutes it sells all 10 stocks. If at any point a stock hits some %gains I'm happy with(30%,50%,100%) I sell out of that stock and blacklist it to just take the gains. Pretty simple and sounds like it should work. + +I have been keeping an eye on top market gainers for the last couple weeks and if you include OTC/PINK stocks you get some wild upsides in pre-market. I can see loosing out on some money if #1 drops to #11 quick, or bleeding pennies by constantly buying #10 then selling it the moment it goes down. However I feel like the upside of #1-9 would make up for that. To a noob like me it sounds like it "can't" loose money, but I'm not arrogant enough to assume I'm the first person to think of this, or that it would be this simple. + +Any advise or conversation you all could offer me on this project would be greatly appreciated. + + + +Edit: this got a lot more attention than I expected. Thank you all for your input, especially the post telling me where it might fail. Like I said at the top I am new to this and figured I was overlooking a lot of ways this could go wrong. I still think I might have something here, but even if I'm wrong it will be a learning experience. + +Some input I am taking right away. I won't be able to rely on any premade %gain lists from any brokers as they calculate that off prior days close, so I could be buying a stock that ran after hours rather than one that's running now. Using a trailing stop loss is a much better idea than selling at x% gain. lets me take advantage of any runs I might find while limiting risks. I need to figure a way around low volume while trying to exit positions. I can't just set a sell limit order for x stock at x.xx price and assume it will go through.i need to pay attention to volume or different momentum indicators on top of % change. Plus much much more. Again thanks for all the input. +I purchased Qantas and flight centre a while back this year and they were going well but are now falling dramatically. . Is there any indication (fairly amateur investor here) that theyre going to come back up anytime soon or should I cut my losses and offload them +I recently started working as a meter reader and it has been pretty good apart from dogs and extreme weather. The pay is really good as well 27 an hour, I work what ever times I want and time goes by quickly. + +But i've recently just had an interview for 99 bikes for a part time sales position. I'm a really passionate cyclist which is why I applied. It would be nice work in a airconditioned building again and not be tired from walking at the end of the day. + +Only thing is the pay wouldn't be that good, level 1 retail award rate part time at 18 years old is like $16 an hour. You do get comissions though, could anyone give me an idea how I should factor that in? + +Do you think I should take that big of a pay cut for a job I think I would like more? It's risky because I might not end up liking it that much. + +I'm planning on going to uni this year and living at home with parents so money is mainly just for things like car/myki and entertainment. +The market is in panic mode. Peak fear is when the news are bad and will probably continue to be bad in the future. And I'm seeing a lot of people talking themselves into how what they're doing isn't panic selling, it's "changing my strategy" or "adapting to the macro economics". Nobody who's panic selling ever feels like they're panic selling. + +I'm not saying we're at the bottom so load the boat, but you have to be crazy not to be dollar-cost averging right now. +Amazon CEO Jeff Bezos has become the third-richest person in the US. +http://www.businessinsider.com/jeff-bezos-just-became-the-third-richest-person-in-america-2015-10 +** Edit: Huge downvote effort from safestar and safemoon shilling team** +This post will not be to the taste of many, i know ... +Disclaimer: I am investing in both these coins, no not trying to spread FUD to buy the dip. + +The Red flags i see: + +- SafeMoon and SafeStar are launched by same team, the team is associated with a dex launchpad and was creating some usecase, until one actually took off. (i will not name the launchpad to not give them free advertising, but i assume someone will mention their name in the comments) + +- Both are just shitcoins with no usability, not even memes, just pump and dump schemes that would drive price up due to the greater fool theory. + +- Fair launch is a big fat lie, they started by selling/giving huge amounts in private, before putting the rest on pancakeswap (these account might all be same team - split 25 address to 7-12 team member). +details: https://bscscan.com/address/0xa8736b9585a01d6dcc1b6e2fc9dc208552c34b58#tokentxns + +- Dev had to buy in, ok, i'll bite, but what about the 20 trillion still stored on the address above: +https://bscscan.com/address/0xa8736b9585a01d6dcc1b6e2fc9dc208552c34b58 + +- Unprofessional, the website went down several times, and the situation was not fixed for several days. + +- The Contract is copy/paste from Bee contract, exact same code, they just changed the supply and name etc ... Not even bothering changing the comments + +- They do not pay what they are due: +1-Community voted to list on https://whitebit.com , they asked us to pitch in, and to donate 50 BNB +The community did : https://bscscan.com/address/0x3D2e8680e6858976ad1972b21D483ce757cB9C7D +Then later while chatting with whitebit, we discover that not only the listing is not confirmed, but also that the supposed listing fee we donated was never paid (indeed funds still in account) 2- Community voted to transfer $10k worth of safemoons to the admin or mod of https://altcoinstalks.com , because he is involved since early on with the marketing of this project, and for some further promotions. The guy was never paid. + +- One of the presale whales is single handily dumping on everyone +https://bscscan.com/address/0x86b695aaa2600668cec754c7827357626b188054#tokentxns +(I suspect this account belong to dev, because a spam on this account mention poocoin, then the dev pin the poocoin in one of the groups just for fun) + +- Safemoon run it course, the same team launching SafeStar common ... +check link same team same code ? > +https://tokensniffer.com/compare?id1=0x3c00f8fcc8791fa78daa4a480095ec7d475781e2&id2=0x8076c74c5e3f5852037f31ff0093eeb8c8add8d3 + +Why i am posting this, because this shit can ruin people's lives +see this nonsense : https://www.reddit.com/r/SafeMoon/comments/m7z4w8/the_hidden_purpose_of_safemoon/ +It's very interesting how many oldschool traders stopped posting in this sub after it got full of people that don't do due diligence... amazing how this new people buy iota or neo without a clue, timing markets and jumping on hype trains will only lose you money. + +Bitcoin is old technology with governance issues and huge fees, litecoin doesn't have anything to offer, ripple is centralized. What else do you need to know? if you are here and don't even know what a GENERAL PURPOSE blockchain is and the meaning of turing complete you should proceed with extreme caution. + +If you want good advice also listen to u/Mr_Yukon_C... + +EDIT1: By the way, I sold because I needed to (personal matters) not because I was trying to time the market, although knowing ETH's history selling over 390 is very probably not a bad thing... ...of course the price is going over $1k soon enough... +The Tether FUD is overblown and doesn't make much sense. The entire basis of the Tether FUD comes from a random anonymous Twitter account, Bitfinexed, that seemed to have a personal vendetta on Bitfinex... +https://steemit.com/cryptocurrency/@kjnk/why-the-tether-fud-doesn-t-make-sense-and-we-are-getting-manipulated +This is a tinfoil theory and not some DD. I want to make that clear before I discuss this. I don’t have a lot of experience with making posts so I’m not sure how to add pictures to this. Earlier today I commented [Here](https://www.reddit.com/r/Superstonk/comments/w68hqq/rc_tweeted_left_for_dead_on_711_msm_writes_about/ihclzc2/?utm_source=share&utm_medium=ios_app&utm_name=iossmf&context=3) about what GMErica is and what I think it means for Blockbuster and other potential partnerships GameStop can have with other companies. Someone else may have already thought of this so if this idea has already been discussed sorry to disappoint you. + +What is GMErica? +I think GMErica is an upcoming metaverse mall where other companies can open their own virtual store and help customer shop virtually in the metaverse for items. One stop shop for all shopping online for different companies. Kind of like a real world mall but online like amazon. It will have the best of both worlds. You can interact with other users online, shop around for different companies and read reviews and order it online. + + When you buy some collectibles for example you’ll get an NFT version for it in the metaverse which is tied to your wallet address and you can also get the same item physically by visiting a GameStop location or have it shipped to you by GameStop. This makes sense for limited edition collectibles as now the NFT has value for not just being a digital item but having it tied to a real world physical item. And it’s pretty cool to have both versions and only paying for it once. + +Why is it called GMErica? What does it have to do with America? +Has anyone ever heard of the largest mall in the U.S. and the largest mall in the Western Hemisphere? It’s called Mall of America in Minnesota. It’s a famous mall for being the biggest mall in the U.S. with a bunch of attractions and many stores. They have everything from Lego stores to an actual GameStop store. + +GameStop can build a virtual Mall of America in the metaverse aka GMErica. This is how you crush Amazon, by building a platform that attracts users,, companies will want to partner with you just like they want to partner up with amazon. Many companies already have VR/AR shopping experiences for users but the problem is you need a different app/website for each company. And it works on some devices and not the other. Instead of having 10 different apps on phone to experience their version of AR/VR shopping just go to GMErica and shop virtually for your clothes, iPhones, games, and toys/collectibles. + +What do Sears, Toys R US, blockbuster and GameStop have in common? They are all retail stores which exist in malls where people go to shop. Since Malls are dying and online shopping is taking over this is the next best thing. + +What does this means for blockbuster? +GMErica can allow blockbuster to sell, trade and rent digital movies in the metaverse and everything is traded as an NFT even the movie collectibles. + +GameStop already has great customer service, large warehouses and fulfillment centers. If you builds this metaverse THEY will come. Metaverse is a $40B industry right now. BY 2030 many companies are estimating it’ll be worth trillions of dollars. If GameStop builds a metaverse it’ll be seen as a growth tech company and be valued like other metaverse companies. + +https://www.obsessar.com/the-metaverse-is-the-new-mall/ + +Alibaba’s Taobao has already launched a “Metaverse Mall” in China on May 2022. + +TLDR: GMErica is an online metaverse mall where companies can have their own stores and allow users to shop virtually. You can simultaneously buy NFT’s and real life products shipped to you like regular online shopping. Keep the digital NFT in metaverse, enjoy the real life items in person. Metaverse version of Amazon but better and without fake sellers and fake items. + +Edit: Thank you everyone for the upvotes, comments and awards. Some of you here mentioned that you’ve heard about this idea before. I mentioned in the beginning of the post that you may have heard it before. I have read theories of GME doing a metaverse or GMErica being a metaverse/NFT marketplace before but I only heard about bits and pieces here and there. I sort of got curious today when I started to wonder what happened to GMErica since NFT marketplace is already released and why GMErica is named after America. That was the main reason for this post. Anyone can take credit for this theory as far as I’m concerned. I just wanted to share this conceptual idea and discuss about GMErica, blockbuster and metaverse. +For the past year I've been staying with my sister and her 4 kids (11,10,2, and 1). About a month after we started staying together my sister just kind of gave up on being a parent. She stopped coming home some nights. Stopped paying the gas bill and stopped buying groceries for the kids. So it was up to me I took over their care and let her do what she wanted since she never listened to reason. The lease is in her name since when we looked at the house I was only at my job for a month. Apparently she has been half paying rent. I would send her the rent and she would do god knows what with it. (I know I should have checked but I never thought she would let her kids end up homeless) the landlord showed up yesterday and apparently my sister did not go to court after she was served and now we have to be out by tomorrow unless we come up with $1900 I'm not going to try to come up with that on my own. It's impossible but I have been looking at places and put in applications just waiting to hear back but even then I wouldn't be able to move until mid-july so for 2 weeks me and the kids will have nowhere to go. The only family I have around here is my mom and she has no space for us. Theres 10 people in a 3 bedroom house. Its up to me to take care of these kids now. I'm just at a loss. +Pretty self explanatory. I currently rent out a home that I am considering moving back into due to personal reasons. By no means am I looking to make life hard for the current tenants! I am just after advise / experiences from others. + +I will be looking to ask the tenants to leave roughly 3 months early (12 month lease). Has any one had any luck with this in the past? I am thinking at the very least to offer a month or two free rent, moving costs etc. Anything else people have offered to sweeten the deal? + +Like I said, I hope people don't see this as a greedy landlord causing drama. If it doesn't work out the way I want, I understand I will just have to find something else and don't want to try to squeeze people out against their will. It's just that my circumstances have changed and I am exploring all options. + +Thanks in advance! +Latest EDIT (moved this to top as it makes the most important point of this post): + +Consider this math: + + - If you only allocate your infinity pool shares to CS, let’s say 10-20% shares (according to early consensus… recent posts mostly claim 50%+ but I prefer to be conservative) + + - and not everyone can DRS (because of Roth, or living in some unsupported country, or being lazy, or whatever reason) so let’s say like 75% of people here will DRS (ambitious assumption imo) + + - that means the shares we DRS equate to ~7.5-15% of our total holdings. + + - **this means we’d have to own the float AT LEAST ~7 TO 13 TIMES to register the full float**, which is very possible but highly optimistic. + +**So no, we should not use CS for “only” infinity pool shares, we should register more than our infinity pools - and we should be ok with it because those shares can later be easily accessed - unlike a lot of the FUD claims. Ignore the shills attacking the post and me personally and re-do the math with your own assumptions.** Example: If you assume only 50% of people will DRS 10% (total registered = 5%) then we’d need to own 20x the float. **Essentially we need to just register as much as we can, not just infinity pool shares!** + +————————— ORIGINAL POST ————————— + +By all means, feel free to expand your own infinity pool as much as you want BUT **Computershare is NOT an “*Infinity pool only* parking lot for shares”** + +There seems to be a FUD campaign going on for some time now, claiming that *“shares transferred to computershare are hard to access”* and **that’s not the case - Computershare also acts as a broker^1 and you can easily and rapidly make orders with them (market and limit)**. + +**Btw title doesn’t mean to call anyone out! Just asking people to be more mindful of the subliminal messaging they may be unintentionally spreading.** + +^(note 1): This is obviously not their primary business model, they offer it as an added benefit for working with them. Not all transfer agents have the option to act as brokers, that’s where some confusion lies. Computershare allows you to place orders with them, whereas some **other transfer agents** would require you to first unregister your shares, then require to re-transfer your shares back to your broker and only then they’d be sellable. More information on conventional DRS and other forms of ownership can be seen here, directly from an SEC FAQ: https://www.sec.gov/reportspubs/investor-publications/investorpubsholdsechtm.html + +This is all new territory for everyone, and as a means to hedge risk (because noone knows how exactly the MOASS will unfold) feel free to spread your shares across CS and brokers. ^(Had to edit this paragraph as shills were using it to FUD the whole post)