diff --git "a/reddit_finance_43_250k_471.txt" "b/reddit_finance_43_250k_471.txt" new file mode 100644--- /dev/null +++ "b/reddit_finance_43_250k_471.txt" @@ -0,0 +1,10000 @@ + +For background, I'm 22, male, white, go to a highly ranked state school, study computer science and statistics, will be working at a large multinational bank as a Data Scientist once I graduate, and I was just recently diagnosed as being on the Autism spectrum, but more accurately as having Aspergers. + +Beside the possibly-on-the-spectrum Silicon Valley startup legends, I realized I haven't ever really heard / know of people on the spectrum who have done incredibly well for themselves. + +My questions to the spectrum-identifying /r/FatFIRE community are what has your career progression looked like over the years? What challenges did you face in particular? Did you find that your condition was more of a blessing/curse/non-issue? Any ideas/philosophies/books/approaches/heuristics/etc that you found useful in your journey? + +Thanks in advance! +It's that time of year. I'm wondering what types of resolutions people are planning, specifically in the Fat category. "Losing weight" probably doesn't apply, but hiring a former Olympiad as a trainer to do so would, right? + +For me it's joining / attending more private clubs. These have been invaluable during the pandemic since many could stay open while other types of businesses / activities had to close. Also they function as a way to grow our social network in new places where we're spending time, which is good for the family's mental health. +I have $120 in my bank account and the doctor’s visit at urgent care will be $150 + antibiotics. I know I have a UTI but I’m just not sure how to seek treatment with no money. + +Does anyone have advice on what to do? +A new Super PAC (Political Action Committee) called the Financial Freedom PAC has been formed with 2 goals in mind: + +- Elect Bitcoin Champions +- Kick out anti-Bitcoin politicians like Elizabeth Warren + +> The Financial Freedom PAC explains that it supports four political candidates including the Ohio Republican Senate candidate, Josh Mandel, the California Democrat House candidate, Aarika Rhodes, the Ohio Democrat House candidate, Matthew Diemer, and Arizona Republican Senate candidate, Blake Masters. + +>**Corporations, unions, associations and individuals can donate** to the Financial Freedom PAC but they cannot donate with U.S. dollars. The organization’s website discloses: **“Fiat donations are currently not working. This is a feature, not a bug. Please donate bitcoin.”** + +Another organization called the Bitcoin Advocacy Project (BAP) has been launched with the explicit aim of "bringing about an orange wave across Washington.” + +>"BAP supported the creation, development, and funding of the Financial Freedom PAC — the first Bitcoin Super PAC that aims to elect Bitcoin champions and vote out anti-Bitcoin politicians like Brad Sherman and Elizabeth Warren” + +>“BAP has pledged $100,000 to get the Financial Freedom PAC off the ground and secured another half-million dollars in verbal commitments since the organization was filed.” + +https://news.bitcoin.com/super-pac-aims-elect-btc-advocates-vote-out-anti-bitcoin-politicians-brad-sherman-elizabeth-warren/ +Year to date, NASDAQ is up ~17%, S&P 500 is up ~21%, DJIA is up ~16%. + +Are you beating the indices? + +If you aren't beating the indices, why not just buy a fund that tracks the indices and save yourself headaches? + +You read stories about someone 1000x their investment because of pure luck, but that's not the normal. I'd be curious to hear from regular people how they are really doing so far this year. + +EDIT: Holy crap, fuck my in-box. Was not expecting this many responses. + +**EDIT2.0:** A few people have pointed out that if you have, say, $5000 invested and you pump in another $5000 to buy more stocks, that's not the same as doubling your money if your stock doubled in price. Pardon my ignorance on the terminology but how do you account for this and how many people here are overstating their gains by including that extra buying power? Plus, how does one adjust for that when looking through the tools available on their brokerage's website? +I changed jobs in 2018 and rolled over my employer 401k plan (fidelity) into a Roth IRA (also fidelity). I then started contributing to my new employer's 401k plan. I was in a lower earning bracket in 2018 and was told it was a good opportunity to do so. Anyway, I rolled over the full amount of my 401k into the Roth IRA untaxed and was told that I would need to pay the upfront taxes in my 2018 return. My rollover contribution was $14, 732.22 -- which is what I assume I owe taxes on. I have 5498 form but have yet to be prompted on Turbo Tax to provide it. + +&#x200B; + +Any help on how I file this would be greatly appreciated. Luckily my tax return is greater than expected so I'd be able to deduct from that amount. Not sure if I can do this systematically, or if I would have to receive the return amount and pay the Roth IRA tax separately with the IRS. A little lost! +I just joined a company with a 5% match for 401k. The caveat is that I won’t be seeing the match until it’s vested for 5 years. I doubt I’d stay with the company for that long. Should I open an account anyway? What other options should I look into? I already have a Roth IRA that I’m contributing to. +Im a 21 year old with very little credit. I have never had a credit card or anything other than federal student loans, but I have paid rent for 11 months so I have started in some capacity to build credit. I’m looking for a credit card right now to build credit as well and I was looking for advice on what the main things I should be looking for from a card and what sort of priorities I should have on different aspects. Any help is appreciated, thank you! +I inherited a 401k from my aunt who passed away in early 2000s. I’m 25 now and finally starting to get into finance and understand some of it. I know that this account has grown a quite a bit and I’m really just not too sure what to do with it. As far as I know, I am not able to make contributions to it myself nor am I able to roll it over into any of my retirement/savings account. Please correct me if I am wrong in that. I do get a 1-2k yearly distribution by the way. + +So , with that being said, my mom told me that I am able to withdraw money without a penalty as long as it goes into purchasing my first home. (Apparently my brother withdrew about half of us to put into his first house) So thats what I am currently considering. Since I am currently renting ; in the long term I would think that outright owning a home would see more gains for me than the money sitting there without me contributing to it. + +I am super grateful to my Aunt for leaving this for me and I dont want to squander it so really any advice on what you guys would do would be awesome. + +If you need more information please let me know. +Background info. Just went full time with my small business which I predict to bring in approximately $10,000 per month(post tax). My wife is a teacher(stable job) and brings in $2,500 a month(post tax). +Our total expenses each month is around $7,000. +How much should I keep in personal checking account at all times? I hear 1 month expense is the norm. +What about emergency fund? Currently have $28,000 which is 4 months expenses. + +Thanks! +IE... + +you get money(someway some form... illegaly/or legally) + +way more than can be accounted for through your employement/or frugal spending. + +will the IRS automatically know, or only if they audit you? + +if they do ask about it and you don't have an answer(don't tell them/ just say I got it etc) what happens then? + +... + +hypothetical at this point +I am currently a junior in hs and am on bad terms with my parents. I recently found out that they won't pay for my college education, and feel like I'm royally screwed. I know they have a savings account for me, but doubt that there's more than one semesters worth of money in it. + +So what the heck am I going to do? I'm not a genius, I pretty much reflect an average student with a gpa of a 3.5, and have never been in any clubs. I come from a public school full of well off extremely smart kids, and feel like such a deadbeat knowing that I'll never achieve what they're going to. + +I currently have a job that pays $7.50 an hour, and am thinking of getting another at a grocery store, restaurant or possibly in retail. How long would it take me to save up if I was renting an apartment one step above ghetto, had no cable or internet and tried to use public transportation as often as possible? How many hours would I have to work, assuming the second job would pay pretty much the same as the first? + +Is it even plausible to work while going to college? How would I schedule my classes based on what I can afford time and money wise? + +I feel like my future is hopeless and bleak. I wanted to get a BA in Chinese and a TEFL certification, which would allow me to teach English overseas, but now I feel like my life is spiraling down. +I have a neighbor who I'm on very good terms with, who bought a house at a tax auction. The house is not in good condition. He lives a little ways away and the work seems to be intimidating him because he's older and has a replaced elbow. He said to me today that they were considering. Selling it if he could get back what they put in. He told me he would charge me less than a stranger, but asked me to come up with an offer. + +Some things to know about this, I am capable of doing the home repairs. I live with family and have very few bills. Income is 1200 a month after taxes. Bills are 300.00 a month. Cannot reduce my bills any further. + +The Home +550sq ft (its small) +1 bed 1 (3/4)bath +Full basement +Owner put a roof on ($500-750 in materials) +With new roof home and basement are dry and it's rained horribly for weeks here. +Lot 150x44 +Taxes are $300 a year +Wiring is romex, newish panel. +Plumbing is copper, I'd convert to pex eventually +Needs a furnace. (Currently oil)(two oil tanks in basement) + +The owner paid 2550 at a tax auction. +The owner put a crappy corrugated asphalt/rubber sheet roofing on, which works but I'd replace eventually. About 500-750 in materials. + +I live three houses away currently. +My parents own a number of houses on the block. +The lot on the one side is an empty grass lot which belongs to my parents. (They have no intention of doing anything with it, in fact it may eventually go to tax auction and I could buy it for like $1000) + +My credit score is in the high 600's +I have no savings +I have little to no debt +I'm 28 and single +I have a steady job I've had for nearly a year. + +Once the house is done I would probably rent the house and remain where I am. + +What should I offer? +What things should I watch out for? +Any thoughts or discussions are welcome, I would love to talk about this for a while with anyone. +So I got connected with an FIC (Fraternal Insurance Counselor) from MODERN WOODMEN. I don't know much about this organization. I was looking for advice on if I should rollover two 401ks I have from 2 previous employers. He recommended I go with AMERICAN FUNDS as they have had great returns over the years. As we were looking into the rollover we found out my 2 401ks have and expense ration of 0.11 with no fees and 0.65 with $30 in fees anually. I thought that was pretty good but he said it wouldn't be good to leave them since no one is monitoring them and one of them (0.11) is actually a closed investment (meaning my old employer abandoned the plan and the one I'm in is just leftover with former employees) + +Is he correct here? Does anyone know anything about American Funds? + +Luckily Fidelity made me freeze the 401k accounts for 10 days because I had to change my address. + +Sidenote:. I lost confidence in him when he told me I can only take out 10% of a Roth IRA when I know you can take out any amount excluding the interest without penalty. + +Sidenote 2:. Modern Woodmen is free. I believe they make their money off Commisions. +I'm ashamed to say that I fell into the credit card trap and am buried in a little bit of debt. I'm using my alt account because I don't want anyone I know knowing how bad I messed up. For reference, I'm 19, have about $450 in my checking account, and make about $1,200 a month give or take a couple hundred dollars depending on the month. I also currently have about $300 in stocks through Fidelity. + +I have 3 credit cards. Card #1 is 21.99% APR and has about $800 of debt on it. Card #2 is 0% APR until December with about $900 of debt on it. Card #3 is 22.24% APR with about $200 of debt on it. I stupidly used these cards while traveling before COVID and then to get things to work comfortably from home during COVID. + +My current plan is to pay off card #3 and put $400 each to card#1 and #2 after my next paycheck in mid-September (including money from checking account). With my budget, I would have about $300 to make it to my next paycheck which is totally doable since I haven't left the house in months and only have to pay for monthly subscriptions and my phone bill. + +Sorry for the wall of text. I just need some help. Should I put more money into paying off the cards? Should I take more of a hit on interest while saving money to open a Roth IRA in the future? I'll take any advice. +Hi all, + +I am a 23 y.o. currently contributing to a Roth 401k (with company match). The Roth 401k is currently invested 50% in a balanced fund and 50% in an S&P 500 Index Fund. The rationale behind the balanced fund is to have a bit of an anchor in the account. + +In addition to the Roth 401k, **I am opening a Roth IRA**. From a tax planning perspective I want to maximize Roth Contributions at this point in my life. Once married, my fiance and I will start hitting the phase-out range so I want to be aggressive with contributions right now. + +My question is: **what investments should the Roth IRA hold? Should I also change my investment allocation in the Roth 401k?** My plan was to hold another S&P 500 Index Fund in the Roth IRA, but I didn't know if I should diversify into some more aggressive/growth type funds in this account. **Mainly looking for advice on investment types based on age (23 expecting to retire in 60s) and account type (both Roth 401k and Roth IRA).** + +For background I am completely fine with more aggressive investments since I have a ways to go until retirement. High risk tolerance. + +Thanks in advance! +This shouldn’t fall into soliciting. It’s a financial question to steer me in the right direction of what companies to look into for my personal finance. Thank you in advance. +I am currently planning on purchasing a house. It will most likely be new construction. + +HHI: $220K + +After downpayment & closing costs, the mortgage per month is \~ $3,000 + +As it's new construction, will not need to set aside money for house reno, replacements, etc. After all is said and done, will a $10,000 savings be a good cushion for me? I am trying to figure out if I need to save more aggressively or if I am on the right path. + +I will obviously continue to save, I just don't want to be depleted in savings after all the fees, etc. +Hi guys! I have a question regarding how to display the monthly and yearly payments someone has. If I, for example, want to show my Netflix fee on a Google Sheet, I can put in there the monthly payment. But what if for example pay something for a yearly fee, like a license? Do you guys just display it as a one-time payment or as a "monthly payment" since you don't own the service? + +Cheers! Oli +Some background: 25 years old, I've lived with my parents most of my life. They were never good with organizing their finances either and though they consistently told me how important it was, I've always had almost no self-control. Mostly little purchases you never think of adding up, etc. + +Anyways, I am just starting my first Full-time job with a salary and benefits. Almost all of my previous jobs were part-time and retail. It's a government position, benefits are great and they do a OPERS plan instead of 401k: basically the same thing, I put in 10% of my salary and they match 14%. + +I have $300 to my name. Around $500 in monthly bills (credit cards, student loans). I'm staying with a family friend who is charging me "rent" ($600) and putting it aside for a down payment on my own place. + +I've been really cutting back my spending and keeping track of what I do spend. But as of now, I will not get my first full paycheck until mid-Feb. + +I don't really know what I'm doing or the best way to do it. Any serious advice, apps, programs you recommend would be so great. + +Edit: Thank you everyone commenting help. I'm spending the day looking into the recommendations! +Stimulus check arrived. We are a family of 4. I make $130,000/ year. My wife is primarily an at home mother, but just started her own business. We received $1400 x 4 = $5600. + +What is the wisest way to use this money to pay down our debt. + +$6300 in credit card debt primarily from wife’s business start up cost. 8.99 % ARP. Approx. $120 minimum monthly payment. + +$7,875 left on car #1. 1.99% interest. $334 minimum monthly payment. + +$10,777 left on car #2. 2.24% interest. $405 minimum monthly payment. + +We have enough in savings (combined with the stimulus money) to comfortably pay off either the credit card or car #1. Paying off car #2 would be a pinch for a couple of months. Thanks. +Hey Reddit, + +I've always been broke and financially illiterate. For the first time in my life I have $10k in checking and $10k in savings. I have no idea what to do with my savings, but I know it shouldn't be sitting there not doing anything. + +Can anyone give me some simplified financial advice here? + +Roth IRA. Mutual funds? +Hi Everyone, + +Wanted to get your feedback on this scenario or any references to any documents from ASIC for this. + +Assume, 5 founder started the company within initial contribution of $10K each. + +They then hired developers to start building their product. After about 4-5 months, company has already spent about $20K capital on various expenses but the company has still not started generating any income yet. + +Now, if one of the founder wants to quit, how much refund will he be entitled to at this stage ? Is the company legally bound to pay him his full initial contribution of $10K or only the net available capital divided on the proportionate basis among all founders ? +Hi guys, posted this in /australia but its probably better suited here, was hoping I could get some opinions on the following: + +31 years old, 57k in super currently +FT employee, did 76k 2019-2020 +25k in debt, 22 car loan, 3k credit card + +I was stood down mid april due to covid and have only just gone back to work as on June 29th to 80% of my normal shifts - so I lose one shift a week. I work in hospitality, so if 1/5 shift hits saturday / sunday, its quite a substantial loss. + +Would it be financially wise to withdraw 10k from my super and immediately pay off my credit card and put the rest into my car loan? My plan was to start salary sacrificing at least 5% once my loans had been paid off. + +Secondly, am I allowed to do this with my super? I'm pretty sure I meet the eligibility terms but are there rules as to what has to be done with the withdrawn super? I'd have to get hit with big tax because I wasn't spending it 'how I was supposed to'. +About a year ago I started to get my finances under control. I paid off my maxed out credit card and managed to accumulate 6 months worth of emergency living expenses, plus an extra ~$1k or so as a cushion. + +Today I gave my 2 weeks notice to my employer. I was timing it to work 2 more weeks then have a 2 week break before starting up at my next job, but my boss turned around and fired me on the spot, totaling 4 weeks of unemployment before the next paycheck would start flowing in. + +Normally I would have freaked out in that situation, as I wouldn't have planned for a month's worth of expenses like that... however, with the help of this sub, I had enough in the emergency savings today to just shrug, smile, and give my boss a firm handshake as I started to think of all the hiking and beach time I'll get in the next month before my next start date! + +Thanks /r/pf! + +edit: gonna file for unemployment... right after this breakfast beer :) just remember, with the right emergency savings and financial planning, your unexpected unemployment can be turned into a FUNEMPLOYMENT! +Since I got in the stock game, youtube took notice and every video I watch has an ad with a different millionaire day trader willing to reveal the ONE secret that made him/her millions. Even when I think i found a decent youtube trader to learn from, they still have obvious clickbait techniques. It is disheartening. But my real question is why? + +If i made a living off of the stock market, why would I spend time and energy making all of this clickbait material? Is it strictly greed? Or is it a side income for when the stock markets goes sideways? I could understand the latter, but why all the click bait and shit? + +Why cant someone just help new traders out, without all the fluff? I really dont get it. I mean... if you are actually flipping $500 to 300k in less than a year... why do you need to clickbait me? Because thats not enough money? Greed is crazy, but im disappointed trying to find someone to learn from. +Everyone banging on about how things are different now, when the bull run coming etc, it’s in the maths!!!!! + +The 2016 halving was on the 9th July 2016 – Btc reached its 2017 high on Dec 15th 2017 – 524 Days after the halving. + +The 2020 halving was on the 11Th May 2020 – Btc reached its 2021 high on 7th Nov 2021 – 545 Days after the halving. + +The difference in days there is practically a rounding error! + +Now isn’t the time for hopes of Miracles, now is the time to get stuck into going to the fiat mine for the next 4 years and DCA the shit out BTC! + +2025 is calling!!! + +EDIT: woah the people round these parts are salty, still holding on to lengthening cycles 😂 +I have read other general books on Investments, but I always find them focusing on US markets and S&P 500. I was just wondering if there was any books by Indian Authors which would be more pertaining to the Indian Market Scenario. +Thanks in Advance! +In the world of personal finance, there is almost universal consensus that passively managed funds (index funds) give better returns than actively managed funds (mutual funds). We try and examine this for India. + + +1. We use [https://www.mfapi.in/](https://www.mfapi.in/) for daily NAV values. It looks like this data goes back only to the start of the 2006-07 FY so we are limited to 14 years of data. +2. We shortlist eight mutual funds and two index funds using Morningstar’s [fund screener](https://www.morningstar.in/tools/mutual-fund-screener.aspx). The criteria for shortlisting is that they need to have been launched before FY 2006-2007. +3. We calculate rolling 5Y, 7Y and 10Y returns till 26th June 2020. We calculate the CAGR on June 26th, June 25th and so on assuming units in the fund were purchased 1825, 2555 and 3650 days ago. We then average out all these CAGRs. Since I don’t have a background in finance, I am not 100% confident that this is the correct way to do it - so please let me know if I’m doing something wrong. + +Table listing the returns of mutual funds - [https://gyazo.com/c9d381a4461afe1e9039d9d7d876a2e9](https://gyazo.com/c9d381a4461afe1e9039d9d7d876a2e9) + +Table listing the returns of index funds - [https://gyazo.com/36858f2e6e2c8a13b711c156cc034237](https://gyazo.com/36858f2e6e2c8a13b711c156cc034237) + + +While it does look like mutual funds outperform index funds, there are some caveats + + +1. Sometimes, funds wind up and return money to investors when they deliver suboptimal results. I do not know how to obtain data of funds that existed in April 2019 but have closed since then (If anyone is aware of such a data source, please let me know!). Therefore, it is likely that these results exhibit some selection bias. +2. “Past performance is not indicative of future results”. It could very well be that the conditions that allowed the mutual funds to outperform index funds no longer exist and we cannot expect similar outperformance going forward. Of course, this is entirely subjective. + +Personally, I have all my investments in dozens of mutual funds and I am happy to continue with the current structure and see no reason to opt for index funds. What do you guys think? +Hello, + +Firstly, I was to apologize if this isn't the correct place to post. + +My family (in Canada) has an apartment in India, which is currently being rented out. The renting process is being managed by my Aunt, who has allowed a family to begin staying in the apartment before making any advance or, more importantly, writing a contract. + +The gentleman staying in the apartment has made partial payments (in cash) (stating that it is a bad period of time in his life as an excuse) and the payments are made only after repeated inquiries from our end. + +At this point, I just told my family that this is going to be a pattern of behavior that will continue for as long as we allow the family to stay in the apartment. + +I've read online and some sites are suggesting that we come to a mutual agreement with the tenant to forgo the rent and just vacate the property. But we have actually asked him to do this in the past but he repeatedly makes excuses and keeps pushing the date further and further on when he will leave. + +My question is what options do we have in order to make them vacate the property? I am not familiar with Indian property laws. Also, the family has 2 school-aged children so I would like to settle this in a friendly manner. + +Sincere thanks for any help and, if this isn't the sub-reddit, please let me know and I will remove the post. +I'd like to open a bank account outside India, without being a resident of the country in which the account exists (preferably without having to visit the country too, but I can compromise on this front). Apparently, enough people have them that the government thinks it's a serious problem, but I haven't really found anything cheap and reliable after a lot of googling. Being cheap is important - I don't want to shell out account maintenance fees every month, especially when I'll be using it rather infrequently. + +I've got a lot of cash in crypto currencies, and I need a exit method once RBI's 3 months are up. Also, I have some income outside India, and it would be nice to not get hit with forex charges every time I spend in a foreign currency. Plus, it would let me get easy access to services like spotify. + +Not looking to avoid tax (from crypto profits and other income), but I would like to be able to profit from my investments without having to rely on the kindness of friends. +Hello everyone, + +I have noticed that price of many many stocks starts rising a few days before they post good results or even if they have any announcement/event which affects the stock. I wanted to understand how does the market come to know this information much before it comes out. The events that the market comes to know range from good financial results, m&a announcements, and other significant announcements (an acquaintance sometimes states information that is not public such as one public subsidiary of a steel company will merge with the parent, etc; but I don't act on it) + +Also, is this information coming out in a legal way or illegal way? And do any institutional investors or big investors like mutual funds, Rakesh Jhunjhunwala, etc come to know about significants events before the public due to some private conference calls with the company? + +Context: IDFC First share price is falling constantly for quite some time now. I read that this may be because the company will undertake higher provisioning for Vodafone in FY21 results or it might be something related to possible merger with IDFC. + +Disclosure: invested in idfc first bank +Ask your investing related queries here! + +The members of /r/IndiaInvestments are here to answer and educate! + +Alternatively, you could [join our Discord](https://discord.gg/hqBNg4u) and seek answers to your queries + +If you're looking for reviews on any of these following, follow the links: + +- [which bank or brokerage to use](https://www.reddit.com/r/IndiaInvestments/search?q=flair_name%3A%22Reviews%22%20Reviews%20of%20banking%20services%20and%20products&restrict_sr=1&sort=new) +- [which fund house is more capable and trustworthy](https://www.reddit.com/r/IndiaInvestments/search?q=flair_name%3A%22Reviews%22%20Reviews%20of%20mutual%20funds%20and%20asset%20management%20services&restrict_sr=1&sort=new) +- [which investing platform to use](https://www.reddit.com/r/IndiaInvestments/search?q=flair_name%3A%22Reviews%22%20Reviews%20of%20Brokerage%20products%20and%20services&restrict_sr=1&sort=new), +- [which insurance company is reliable](https://www.reddit.com/r/IndiaInvestments/search/?q=flair_name%3A%22Reviews%22%20%22Reviews%20of%20Insurance%20products%20and%20services%22&restrict_sr=1&sort=new) + +Generally speaking, there is no best stock, or fund, or bank, or brokerage, or investment platform. + +Answers are always subjective to your personal needs, but use those threads a starting point for you to look at what other Redditors have to say about a company, product, fund, or service. + +You can then ask a more specific question about what product or service to buy, once you are able to frame your personal situation. + +**NOTE** If your question is _I got 10k INR, what do I do to get most returns out of it?_, or anything similar; there is no single answer to this question. But we will also need A LOT MORE information if we are to provide some sort of answer: + +- How old are you? +- Are you employed/making income? +- How much? What are your objectives with this money? +- Do you have any loan, or big expense coming up? +- What is your risk tolerance? (Do you mind risking it at blackjack or do you need to know it's 100% safe?) +- What are you current holdings? (Do you already have exposure to specific funds and sectors? Have you invested in equity before?) +- Any other assets? House paid off? Cars? Partner pushing you to spend more? +- What is your time horizon? Do you need this money next month? Next 20yrs? +- Any big debts? +- Any other relevant financial information about you, that will be useful to give you an informed response. + +Beware that these answers are just opinions of fellow Redditors and should only be used as a starting point for your research. This is **NOT** financial advice, in legal sense of the term. + +You should strongly consider consulting a registered fee-only financial advisor before making any financial decisions. Ideally, such advisors should be registered with SEBI, and have a registration number. + +[Links to previous threads](https://www.reddit.com/r/IndiaInvestments/search/?q=advice%20thread%20personal%20situation&restrict_sr=1). +What was the scam? Who lost the reported 11000 Crore? Who is liable for it now? What was the specific fraud that was committed? What is a letter of undertaking in the first place? +Due date for filing ITR is just around the corner and like me many of us would be in the process of filing income tax returns(especially over the weekend). This is a thread where you can discuss any questions/confusions that you come across file filing and our in-house financial experts/advisers and other subscribers can quickly resolve your doubts. Hope the mods don't mind this thread, and if you feel this is a good idea you can sticky this thread. +Hi. +Anyone recently saw Health Insurance through Kuvera? https://kuvera.in/explore/insure/health Looks like underlying insurer is Bharti AXA GIC. It also has coverage for Corona. Premiums are less compared to others. Thing that seems to bother me (although not much) is no mention of cashless claim. Could there be any other catch? Has anyone seen / opted for this? Would be great to know other people opinions. +Ask your investing related queries here! + +The members of /r/IndiaInvestments are here to answer and educate! + +Alternatively, you could [join our Discord](https://indiainvestments.wiki/discord) and seek answers to your queries + +If you're looking for reviews on any of these following, follow the links: + +- [which bank or brokerage to use](https://www.reddit.com/r/IndiaInvestments/search?q=flair_name%3A%22Reviews%22%20Reviews%20of%20banking%20services%20and%20products&restrict_sr=1&sort=new) +- [which fund house is more capable and trustworthy](https://www.reddit.com/r/IndiaInvestments/search?q=flair_name%3A%22Reviews%22%20Reviews%20of%20mutual%20funds%20and%20asset%20management%20services&restrict_sr=1&sort=new) +- [which investing platform to use](https://www.reddit.com/r/IndiaInvestments/search?q=flair_name%3A%22Reviews%22%20Reviews%20of%20Brokerage%20products%20and%20services&restrict_sr=1&sort=new), +- [which insurance company is reliable](https://www.reddit.com/r/IndiaInvestments/search/?q=flair_name%3A%22Reviews%22%20%22Reviews%20of%20Insurance%20products%20and%20services%22&restrict_sr=1&sort=new) + +Generally speaking, there is no best stock, or fund, or bank, or brokerage, or investment platform. + +Answers are always subjective to your personal needs, but use those threads a starting point for you to look at what other Redditors have to say about a company, product, fund, or service. + +You can then ask a more specific question about what product or service to buy, once you are able to frame your personal situation. + +**NOTE** If your question is _I got 10k INR, what do I do to get most returns out of it?_, or anything similar; there is no single answer to this question. But we will also need A LOT MORE information if we are to provide some sort of answer: + +- How old are you? +- Are you employed/making income? +- How much? What are your objectives with this money? +- Do you have any loan, or big expense coming up? +- What is your risk tolerance? (Do you mind risking it at blackjack or do you need to know it's 100% safe?) +- What are you current holdings? (Do you already have exposure to specific funds and sectors? Have you invested in equity before?) +- Any other assets? House paid off? Cars? Partner pushing you to spend more? +- What is your time horizon? Do you need this money next month? Next 20yrs? +- Any big debts? +- Any other relevant financial information about you, that will be useful to give you an informed response. + +Beware that these answers are just opinions of fellow Redditors and should only be used as a starting point for your research. This is **NOT** financial advice, in legal sense of the term. + +You should strongly consider consulting a registered fee-only financial advisor before making any financial decisions. Ideally, such advisors should be registered with SEBI, and have a registration number. + +[Links to previous threads](https://www.reddit.com/r/IndiaInvestments/search/?q=advice%20thread%20personal%20situation&restrict_sr=1). +SEBI has issued a circular today (July 22) with two reasonably significant changes for debt funds. (Source: [https://www.sebi.gov.in/legal/circulars/jul-2020/circular-on-transaction-in-corporate-bonds-commercial-papers-through-rfq-platform-and-enhancing-transparency-pertaining-to-debt-schemes\_47116.html](https://www.sebi.gov.in/legal/circulars/jul-2020/circular-on-transaction-in-corporate-bonds-commercial-papers-through-rfq-platform-and-enhancing-transparency-pertaining-to-debt-schemes_47116.html) ) + +(Edit: The name of the URL itself gives an indication of the motivation for the changes! The mutual fund advisory committee mentioned in the link is a standing one and there could be more changes.) + +1. Portfolio has to be disclosed every fortnight, within five days. Currently the disclosure is monthly. The yield of the security has to be mentioned in the disclosure. +2. 10% of the secondary market transactions done by AMCs have to use the Request For Quote mechanism of the exchanges. In RFQ, an entity can place a request and get quotes from multiple entities, and has the option to reject. The bids are seen by other entities also. RFQ was launched by the exchanges earlier this year and the move by SEBI is to push its usage. ([https://indianexpress.com/article/business/market/nse-request-for-quote-platform-debt-securities-launched-6250500/](https://indianexpress.com/article/business/market/nse-request-for-quote-platform-debt-securities-launched-6250500/)) +I'd like to open a bank account outside India, without being a resident of the country in which the account exists (preferably without having to visit the country too, but I can compromise on this front). Apparently, enough people have them that the government thinks it's a serious problem, but I haven't really found anything cheap and reliable after a lot of googling. Being cheap is important - I don't want to shell out account maintenance fees every month, especially when I'll be using it rather infrequently. + +I've got a lot of cash in crypto currencies, and I need a exit method once RBI's 3 months are up. Also, I have some income outside India, and it would be nice to not get hit with forex charges every time I spend in a foreign currency. Plus, it would let me get easy access to services like spotify. + +Not looking to avoid tax (from crypto profits and other income), but I would like to be able to profit from my investments without having to rely on the kindness of friends. +In a scenario where promoters hold around 20-25%, A retail investor emerges and accumulates 50%+ of a company. Now has he acquired that company? does he become board member? can he make key decisions? + +If the answer to the title question is YES, please share a real-world example too. +I have recently started my first job and have started a SIP. For now it's more of a learning exercise than serious investing so I'm keeping the first couple of installments minimal. From whatever I've read on this sub and researched over the internet I gathered that it's better to buy SIPs through direct route. I have subscribed to one large cap fund of from Mirae. My installments will start from next month. + +Here's what I did to subscribe to Mirae's SIPs : + +* Since I was already KRA compliant, I just went the the AMC's website, created an account there and selected the plan of my choice and the SIP starting date. I got a mail from them confirming creation of my folio and asking me to add them as a biller in my Inb account. +* Added Mirae MF as a biller using their URN in my SBI Internet banking account and selected autopay option leaving the autopay limit blank. + +I think that's all I needed to do and hope that my first installment will get debited smoothly. Am I doing it right? +Ask your investing related queries here! + +The members of /r/IndiaInvestments are here to answer and educate! + +Alternatively, you could [join our Discord](https://indiainvestments.wiki/discord) and seek answers to your queries + +If you're looking for reviews on any of these following, follow the links: + +- [which bank or brokerage to use](https://www.reddit.com/r/IndiaInvestments/search?q=flair_name%3A%22Reviews%22%20Reviews%20of%20banking%20services%20and%20products&restrict_sr=1&sort=new) +- [which fund house is more capable and trustworthy](https://www.reddit.com/r/IndiaInvestments/search?q=flair_name%3A%22Reviews%22%20Reviews%20of%20mutual%20funds%20and%20asset%20management%20services&restrict_sr=1&sort=new) +- [which investing platform to use](https://www.reddit.com/r/IndiaInvestments/search?q=flair_name%3A%22Reviews%22%20Reviews%20of%20Brokerage%20products%20and%20services&restrict_sr=1&sort=new), +- [which insurance company is reliable](https://www.reddit.com/r/IndiaInvestments/search/?q=flair_name%3A%22Reviews%22%20%22Reviews%20of%20Insurance%20products%20and%20services%22&restrict_sr=1&sort=new) + +Generally speaking, there is no best stock, or fund, or bank, or brokerage, or investment platform. + +Answers are always subjective to your personal needs, but use those threads a starting point for you to look at what other Redditors have to say about a company, product, fund, or service. + +You can then ask a more specific question about what product or service to buy, once you are able to frame your personal situation. + +**NOTE** If your question is _I got 10k INR, what do I do to get most returns out of it?_, or anything similar; there is no single answer to this question. But we will also need A LOT MORE information if we are to provide some sort of answer: + +- How old are you? +- Are you employed/making income? +- How much? What are your objectives with this money? +- Do you have any loan, or big expense coming up? +- What is your risk tolerance? (Do you mind risking it at blackjack or do you need to know it's 100% safe?) +- What are you current holdings? (Do you already have exposure to specific funds and sectors? Have you invested in equity before?) +- Any other assets? House paid off? Cars? Partner pushing you to spend more? +- What is your time horizon? Do you need this money next month? Next 20yrs? +- Any big debts? +- Any other relevant financial information about you, that will be useful to give you an informed response. + +Beware that these answers are just opinions of fellow Redditors and should only be used as a starting point for your research. This is **NOT** financial advice, in legal sense of the term. + +You should strongly consider consulting a registered fee-only financial advisor before making any financial decisions. Ideally, such advisors should be registered with SEBI, and have a registration number. + +[Links to previous threads](https://www.reddit.com/r/IndiaInvestments/search/?q=advice%20thread%20personal%20situation&restrict_sr=1). +From learning perspective, I was checking +Thirumalai Chemicals Ltd + +What exactly happened between 2016 and 2017 that the stock zoomed so high? + +I don't see anything great on screener.in for the company between those years. + +But for over 20 years nothing happened in company with similar fundamentals and then it zoomed like anything and it still going on, Any one has any idea? + +This is just to learn fundamental analysis not to invest in the stock +https://www.moneycontrol.com/news/business/mutual-funds/will-sebis-move-to-make-mutual-funds-directly-responsible-create-issues-for-mf-trade-platforms-4768561.html + +I understand it is way too early, but I hope SEBI puts in checks and balances in places rather than restrict MF platforms blindly. They do have significant contribution to growing MF AUM in the last 2 years. +Dewan Housing Finance Corporation (DHFL) share price plunged 42.5 percent to hit fresh 52-week low of Rs 351.05 amid high volumes on Friday. + +The stock was quoting at Rs 369.65, down Rs 240.95, or 39.46 percent on the BSE, at 12:45 hours IST. + +Link: [https://www.moneycontrol.com/news/business/markets/dhfl-shares-crash-43-to-trade-below-rs-400-other-housing-finance-firms-also-follow-suit-2972701.html](https://www.moneycontrol.com/news/business/markets/dhfl-shares-crash-43-to-trade-below-rs-400-other-housing-finance-firms-also-follow-suit-2972701.html) +What are the reasons to prefer mutual funds over NPS tier 2 specifically for debt portfolio allocation? + +Some points in favour of NPS: + +1. steady AUM and inflows. +2. low risk and highly diversified portfolios with corporate and govt debt. +3. Extremely low expense ratios. +4. PFRDA regulation and incentivised govt backing. +Like I am reading ITC AR for past one month (not regularly and daily) but I feel that I am taking too long to read just one AR. Don't know if I am doing it correctly or not. + +This is how I am doing it: + +* Read the intro to know about their businesses. +* Read report on corporate governance. I think this helps an investor to know how everything is managed plus a great read for those who want to setup a business and scale it later. +* Skimmed through shareholder information +* Read MD&A thoroughly and it's very long (Yes, because ITC is diversified). +* Skimmed throught the report on BoD. Read some initial few pages but then skipped most. How much of importance are they to investors? +* Read remuneration details +* Then I read and analysed the financial statements. +* Skimmed through the notes of financial statements. Heard that they are very important but I found some info not useful to me plus I didn't understand many things in there. + +This is me so far reading ITC AR. I am yet to read consolidated statements and their notes. + +Do you read notes twice (stand + conso)? +I hold units of FT Ultra Short Bond fund- Segregated portfolio 1- 8.25% Vodafone Idea ltd-10jul20. (I subsequently got out of the main fund before it was shut down.) + +I am trying to determine the amount I will receive in the unlikely event Vodafone pays up in full. Is there any webpage that lists how much money holders will get PER UNIT if Vodafone pays up in full? + +EDIT: I calculate it is Rs.1.2349 per unit. That is the fall in NAV (4.36%) between 15 and 16 January when they marked down the Voda paper. + +EDIT 2: I am unable to calculate this for Franklin Low Duration Fund. The NAV fell by Rs.1.5763 (6.87%) over the same dates but this markdown was divided over two different Voda papers, one maturing on 10 July 2020 (same as in UST), the other on 2 Sept 2023. However, there is no indication as to the breakup between the two. +Are you still redirecting your investments into debt funds and hoping there's a correction around the corner, or are you getting back into equity funds? +In a scenario where promoters hold around 20-25%, A retail investor emerges and accumulates 50%+ of a company. Now has he acquired that company? does he become board member? can he make key decisions? + +If the answer to the title question is YES, please share a real-world example too. +Hello, + +Continuing with my previous topic of keeping your money with brokers safe: [https://www.reddit.com/r/IndiaInvestments/comments/fyd1ij/ensuring\_your\_money\_is\_safe\_with\_your\_broker/](https://www.reddit.com/r/IndiaInvestments/comments/fyd1ij/ensuring_your_money_is_safe_with_your_broker/) + +The MCX Crude Oil fiasco has exposed several brokers, big and small to pandemonium. Many clients who had bought oil no longer wish to pay in for the rest of the losses. MCX Clearing House has to pay the short sellers around 3.5 Lakh per lot of crude sold. Some traders and brokers are planning to approach the court against the settlement. + +Zerodha has been transparent as they mention that they have taken some 10 Crore Rupee hit. You can read Nithin Kamaths post at [https://tradingqna.com/t/the-crude-episode-the-risk-of-running-a-brokerage-business/75479](https://tradingqna.com/t/the-crude-episode-the-risk-of-running-a-brokerage-business/75479) + +We are lucky that the pool accounts for commodities and equities is different, but I still recommend you take the precautions I mention in my earlier post. There can be such wild moves in individual stocks. + +I again recommend that you either request a payout or buy liquid bees instead of leaving your money idle with your brokers. +In Chapter 1 (Page 34), there's this following paragraph: + +> In 1965 the investor could obtain about 4½% on high-grade taxable bonds and 3¼% on good tax-free bonds. The dividend return on leading common stocks (with the DJIA at 892) was only about 3.2%. This fact, and others, suggested caution. We implied that “at normal levels of the market” the investor should be able to obtain an initial dividend return of between 3½% and 4½% on his stock purchases, to which should be added a steady increase in underlying value (and in the “normal market price”) of a representative stock list of about the same amount, giving a return from dividends and appreciation combined of about 7½% per year. The half and half division between bonds and stocks would yield about 6% before income tax. We added that the stock component should carry a fair degree of protection against a loss of purchasing power caused by large-scale inflation. + +Since the whole paragraph was confusing, it would be better to ask my concerns line by line. + +> This fact, and others, suggested caution. + +How does it suggest caution? + +> the investor should be able to obtain an initial dividend return of between 3½% and 4½% on his stock purchases, to which should be added a steady increase in underlying value (and in the “normal market price”) of a representative stock list of about the **same amount**, giving a return from dividends and appreciation combined of about 7½% per year. + +Same Amount as what? And how does it ends up giving 7½% return? + +> We added that the stock component should carry a fair degree of protection against a loss of purchasing power caused by large-scale inflation. + +How to give that protection? +http://economictimes.indiatimes.com/markets/stocks/news/vishal-sikka-resigns-as-md-ceo-of-infosys/articleshow/60113175.cms + +Where do you see the company heading? Share price? +You can discuss something like these, ITT: + +- What brokerage are you using currently? + +- Is the brokerage structure suitable to your needs? + +- How is the availability of the brokerage service? + + Do you experience issues with login/authentication? Do you experience issues with posting trades to NSE and BSE? Do you experience issues with executing trades at NSE and BSE? + +- How do you rate the brokerage reports provided by the brokerage house? + +- How are the ancillary products and services provided by the brokerage house? + +- Do you use Smallcase to manage your portfolio, and how was the service? + +--- + +You can ask for a general review of a particular product, or service that you are researching - _Is X good? Is it recommended for long-term delivery trades?_, but please avoid asking for personal advice. + +The discussion is for consumption by a broader audience. For advice regarding your personal situation, the bi-weekly advice thread is recommended. + +Personal advice queries and comments will be removed to ensure that older threads provide sufficient historical reviews on products and services. + +Reviews posted here can be relied upon by newer members to evaluate customer experience with these products. Please confine the thread only to reviews or requests for reviews of products and services. + +[Previous Links](https://www.reddit.com/r/IndiaInvestments/search?q=flair_name%3A%22Reviews%22%20Reviews%20of%20Brokerage%20products%20and%20services&restrict_sr=1&sort=new) +What are the reasons to prefer mutual funds over NPS tier 2 specifically for debt portfolio allocation? + +Some points in favour of NPS: + +1. steady AUM and inflows. +2. low risk and highly diversified portfolios with corporate and govt debt. +3. Extremely low expense ratios. +4. PFRDA regulation and incentivised govt backing. +I am looking to buy different covers for myself (health, term). I came across personal disability cover which offers you cover incase of complete or partial disability. (See [this](https://www.maxbupa.com/personal-accident-insurance.html) for reference). Do I need this if I am already getting the term cover? Also, which term cover do you recommend? + + +EDIT: I just saw that some term insurance have riders to opt for critical illness and accidental disability. Is it better to get these riders along with term or get these insurances separately. +Ask your investing related queries here! + +The members of /r/IndiaInvestments are here to answer and educate! + +Alternatively, you could [join our Discord](https://indiainvestments.wiki/discord) and seek answers to your queries + +If you're looking for reviews on any of these following, follow the links: + +- [which bank or brokerage to use](https://www.reddit.com/r/IndiaInvestments/search?q=flair_name%3A%22Reviews%22%20Reviews%20of%20banking%20services%20and%20products&restrict_sr=1&sort=new) +- [which fund house is more capable and trustworthy](https://www.reddit.com/r/IndiaInvestments/search?q=flair_name%3A%22Reviews%22%20Reviews%20of%20mutual%20funds%20and%20asset%20management%20services&restrict_sr=1&sort=new) +- [which investing platform to use](https://www.reddit.com/r/IndiaInvestments/search?q=flair_name%3A%22Reviews%22%20Reviews%20of%20Brokerage%20products%20and%20services&restrict_sr=1&sort=new), +- [which insurance company is reliable](https://www.reddit.com/r/IndiaInvestments/search/?q=flair_name%3A%22Reviews%22%20%22Reviews%20of%20Insurance%20products%20and%20services%22&restrict_sr=1&sort=new) + +Generally speaking, there is no best stock, or fund, or bank, or brokerage, or investment platform. + +Answers are always subjective to your personal needs, but use those threads a starting point for you to look at what other Redditors have to say about a company, product, fund, or service. + +You can then ask a more specific question about what product or service to buy, once you are able to frame your personal situation. + +**NOTE** If your question is _I got 10k INR, what do I do to get most returns out of it?_, or anything similar; there is no single answer to this question. But we will also need A LOT MORE information if we are to provide some sort of answer: + +- How old are you? +- Are you employed/making income? +- How much? What are your objectives with this money? +- Do you have any loan, or big expense coming up? +- What is your risk tolerance? (Do you mind risking it at blackjack or do you need to know it's 100% safe?) +- What are you current holdings? (Do you already have exposure to specific funds and sectors? Have you invested in equity before?) +- Any other assets? House paid off? Cars? Partner pushing you to spend more? +- What is your time horizon? Do you need this money next month? Next 20yrs? +- Any big debts? +- Any other relevant financial information about you, that will be useful to give you an informed response. + +Beware that these answers are just opinions of fellow Redditors and should only be used as a starting point for your research. This is **NOT** financial advice, in legal sense of the term. + +You should strongly consider consulting a registered fee-only financial advisor before making any financial decisions. Ideally, such advisors should be registered with SEBI, and have a registration number. + +[Links to previous threads](https://www.reddit.com/r/IndiaInvestments/search/?q=advice%20thread%20personal%20situation&restrict_sr=1). +We see a lot of confusion on the sub on how capital gains works on investments. + +We have tried to create a simple summary for the capital gains on commonly held securities. Bear in mind that this is just for reference and there may be additional conditions/ provisions for each asset type. + +Summary available on this link - [https://www.thegalacticadvisors.com/capital-gains-on-securities](https://www.thegalacticadvisors.com/capital-gains-on-securities) +(Subreddit doesn't allow us to post pictures, unfortunately). + +The link also has a few FAQs to help understand things better. + + +**Points to Remember:** + +* STT paid on sale of shares is not an allowable deduction. +* Long term capital gains tax exemption benefit is limited to Equity shares and Equity oriented mutual funds. +* Capital gains on shares and securities is calculated on the first-in-first out basis (FIFO). + + + +For tax implications on foreign stocks, [click here](https://www.thegalacticadvisors.com/post/investing-in-us-stocks).  + +Hope this helps clear some of the confusion! +So my father gives me around 3500 to 4000 rs as pocket money per month for college since i live in hostel and every month i am thinking of investing around 1500rs to 2000rs in stocks so that in future i can buy my own things instead of depending on others. So my dad already has some account for share market in icici and he said he would give me the details but then what to do i have no idea and also my dad doesnt invest stocks at all so even he wouldnt have a clue. +So my question is how to invest in stocks and which stocks should we invest in for getting the most profit out of it since i am looking to collect atleast some 50k within the next 1.5 to 2 years so that i can have some savings. Or is there any other method other than stocks like freelance(or whatever) that i can spend my time on. All advices appreciated! +Ask your investing related queries here! + +The members of /r/IndiaInvestments are here to answer and educate! + +Alternatively, you could [join our Discord](https://indiainvestments.wiki/discord) and seek answers to your queries + +If you're looking for reviews on any of these following, follow the links: + +- [which bank or brokerage to use](https://www.reddit.com/r/IndiaInvestments/search?q=flair_name%3A%22Reviews%22%20Reviews%20of%20banking%20services%20and%20products&restrict_sr=1&sort=new) +- [which fund house is more capable and trustworthy](https://www.reddit.com/r/IndiaInvestments/search?q=flair_name%3A%22Reviews%22%20Reviews%20of%20mutual%20funds%20and%20asset%20management%20services&restrict_sr=1&sort=new) +- [which investing platform to use](https://www.reddit.com/r/IndiaInvestments/search?q=flair_name%3A%22Reviews%22%20Reviews%20of%20Brokerage%20products%20and%20services&restrict_sr=1&sort=new), +- [which insurance company is reliable](https://www.reddit.com/r/IndiaInvestments/search/?q=flair_name%3A%22Reviews%22%20%22Reviews%20of%20Insurance%20products%20and%20services%22&restrict_sr=1&sort=new) + +Generally speaking, there is no best stock, or fund, or bank, or brokerage, or investment platform. + +Answers are always subjective to your personal needs, but use those threads a starting point for you to look at what other Redditors have to say about a company, product, fund, or service. + +You can then ask a more specific question about what product or service to buy, once you are able to frame your personal situation. + +**NOTE** If your question is _I got 10k INR, what do I do to get most returns out of it?_, or anything similar; there is no single answer to this question. But we will also need A LOT MORE information if we are to provide some sort of answer: + +- How old are you? +- Are you employed/making income? +- How much? What are your objectives with this money? +- Do you have any loan, or big expense coming up? +- What is your risk tolerance? (Do you mind risking it at blackjack or do you need to know it's 100% safe?) +- What are you current holdings? (Do you already have exposure to specific funds and sectors? Have you invested in equity before?) +- Any other assets? House paid off? Cars? Partner pushing you to spend more? +- What is your time horizon? Do you need this money next month? Next 20yrs? +- Any big debts? +- Any other relevant financial information about you, that will be useful to give you an informed response. + +Beware that these answers are just opinions of fellow Redditors and should only be used as a starting point for your research. This is **NOT** financial advice, in legal sense of the term. + +You should strongly consider consulting a registered fee-only financial advisor before making any financial decisions. Ideally, such advisors should be registered with SEBI, and have a registration number. + +[Links to previous threads](https://www.reddit.com/r/IndiaInvestments/search/?q=advice%20thread%20personal%20situation&restrict_sr=1). +Due date for filing ITR is just around the corner and like me many of us would be in the process of filing income tax returns(especially over the weekend). This is a thread where you can discuss any questions/confusions that you come across file filing and our in-house financial experts/advisers and other subscribers can quickly resolve your doubts. Hope the mods don't mind this thread, and if you feel this is a good idea you can sticky this thread. +A lot of new investors have flooded the stock market recently and both new and old have been swooped up into the short squeeze bets. + +To whoever needs to hear this.. your losses are pennies on the dollar in comparison to your future financial successes. Whether this be the right stock picks, working hard at a new job, or even working hard in college for a promising career. Don't give up. The only way to be successful is to work hard for it. + +I've been reading posts here and there about people becoming mentally unstable, suicidal, etc over losses. Please talk to a close friend or family member, call a mental health provider, hell message me even if you really need to. + +For those of you who are successful, please keep an eye out for those in need of help. + + +We can make money AND support our communities. + + +Love, + +"Just another guy who lost a fuck ton on the squeeze" +My wife and I have a fundamental disagreement on how chores should work for the children. I want to pay them to motivate them, and she thinks the kids should do their chores out of thankfulness for all the things we provide for them. + +Each side does have its positives and negatives. And it doesn't come with all the motivational benefits of a market economy, because you can't really "fire" your kids from their chores, and what happens if they decide they will take the hit on the money, because they don't feel like doing their chores this week? OTOH, "thankfulness" doesn't seem like much of a motivation to me. + +What is everyone else's view of this parental economic dilemma? +After taking all of the advice and feedback I got from you guys during the Beta, the app is finally live and available in the App Store. I’ve also added a few more great features! One feature being you can set Strike price alerts to open up directly into Robinhood or ThinkorSwim. + +Checkout it out! I Hope it helps 🤙 + +[Strike App](https://apps.apple.com/us/app/strike-stock-market-alerts/id1515729349) +This year is my first year out of college with a job, so I figured it would be good to finally get to serious tracking of my expenses over the year. In college I was on campus housing and a meal plan, so my monthly expenses were mainly entertainment and gas. Since those were small, I put off on any monthly tracking and just spent within what I thought was reasonable. Overall it worked okay, I had enough to do so with spending money from working, but I lacked any overall accountability on how much was going out. + +For context into my current situation, I am a 23-year-old single male currently employed as a Product Development Chemist within R&D at a manufacturing company. I am renting a 1 bed 1 bath apartment in the downtown section of a large town in central Pennsylvania. + +&nbsp; + +**Data Collection** + +I used the export statement function in American Express to export my monthly expenses. I then manually entered in expenses from my checking account. I broke each expense down by category and then placed the summed total for each category in an Excel spreadsheet. This took roughly 10 minutes each month to track. + +For monthly income I used my base monthly pay from work. There’s little deviation from this month-to-month; any deviation would be an increase to add in reimbursement for work travel in personal vehicles, and would not account for much (~$30 per trip, <1 trip per month). This value is my take-home pay which is my salary post-tax, 401K, and HSA contributions. + +&nbsp; + +**2018 Categories and Initial Budget Set** + +After January’s expenses came in I broke down the categories and set an expected budget for each. This estimate was considering the average per month, but as I had little experience in expenses throughout the year, I expected these values to differ from what I initially listed. + +Rent ($800) + +Internet ($40) + +Electric ($160) + +Groceries ($310) + +Gas ($60) + +Auto expenses ($60) – Non-fuel expenses, such as maintenance and tolls. + +Student loans ($1,000) + +Personal care ($35) – Haircuts, health items, etc. + +Entertainment ($150) – Food/drink out, movies, alcohol for home use + +Miscellaneous ($100) – Catch all for other expenses, gifts, cash withdrawals, or when a single shopping trip has multiple categories covered and I misplaced the receipt for breakdown. + +Subscriptions ($41) – Netflix, Spotify, gym + +&nbsp; + +**2018 Monthly Expenses** + +[Expenses by month](https://i.imgur.com/hWUNry7.png) + +[Average expense per category](https://i.imgur.com/P3GlUuJ.png) + +The graph shows the changes in my expenses as the year progressed. As the year progressed my expenses grew but they settled in appropriately. A large portion of this chart is in student loans; I decided that I have enough income to pay off early and in excess. Currently I am paying more than double my minimum payment across all loans. + +Looking at the averages of my expenses show how my initial estimates were compared to actual. I took out January expenses from the average as it was not a complete month of living on my own and tracking expenses. I’ll be adjusting some of the monthly averages for 2019 to better estimate monthly values. On average 20% of my income is being placed in a high yield savings account for short-term goals. + +There are some expenses not captured in 2018 data. The major ones are insurance, furniture, and vacation. Insurance is renter + auto and is approximately $65 per month; I was gifted both covered for 2018 by my parents, but will be switching to covering it myself in 2019. Furniture was a major one off expense to buy a mattress and living room furniture, and it totaled approximately $2,000. Lastly, I went on a family cruise vacation over the summer which came out to be approximately $1,400. I elected not to capture these major expenses in the graphs and data as they were one off and the main goal of me tracking was looking at the more routine expenses. + +&nbsp; + +**2019 Budget Revisions** + +I’m going to keep up with the tracking for 2019. I know that I will have some changes to my monthly budget to better track it based on what I know from 2018. + +Rent, student loans, personal care, entertainment, subscriptions – No change + +Internet – Up to $60 (+$20). First year was their discounted rate for the package I am on. I will keep the same package as it is enough for me and guests. + +Electric – Down to $100 (-$60). + +Insurance – Up to $65 (+$65). As mentioned above I will be covering this myself for 2019. + +Groceries – Down to $250 (-$60). + +Gas – Up to $105 (+$45). Once spring hit, I drove for activities like fishing and biking. I also took some trips to visit friends and family, which was not captured in the first month. This is approximately 3 fill ups per month. + +Auto expenses – Up to $75 (+$15). My vehicle reached some maintenance milestones at 60 - 70K miles, plus a new set of tires, which put this category above my expectation. I don’t have any major planned expenses / maintenance for 2019. + +Miscellaneous – Up to $125 (+$25). Christmas gifts and first year apartment expenses put this above what I had originally expected. I want to better divide expenses this coming year instead of just putting them here. + +&nbsp; + +**Learnings** + +Doing this for my first year out of college really helped me see where my money is going and provide guidance for saving for future goals. From the start I knew that I didn’t need to be strict on the budget in order to meet my financial obligations, so this was mainly used as motivation to save more. Taking that 10 minutes a month to see where my money was being spent helped to push for reasonable spending. + +Another important thing I learned is the variability in some expenses. While things like rent, loans, and groceries are easy to budget, expenses like auto care and entertainment are more up in the air. For entertainment it depends on if I do trips to visit friends. A single weekend trip cost me $200 in food, drink, and other entertainment. This wiped out that expense category for the month in two days. Similarly, car tires cost me eight months of my original estimate. I knew tires were in the plan for this year, but for future issues I may not know in advance. + +My plans are to continue putting money away into savings towards my shorter term goals as well as up contributions to retirement. I also want to continue paying over on my student loans to knock down the principle more while I have the free funds to do so. + +Hope that this information can be helpful to someone out there. I know when I was ready to graduate I had a lot of questions on what I can and can not afford. Tracking these expenses helped me know how much of my take home is actually for fun or savings and not necessities. Believe it or not, it was fun to get my monthly statement and update my sheet for the month. I absolutely suggest to everyone just leaving college to build a basic budget like this, even if you are in the position that you are easily able to meet all your needed expenses. + +The next distribution of Moons is ready. You can claim your Moons through the Vault in the Reddit mobile app (iOS/Android). + +Moons are r/CryptoCurrency's form of [Community Points](https://reddit.com/community-points), a way for users to be rewarded for their contributions to the subreddit, and they can be used on premium features in the community. + +This distribution is based on karma earned from 2021-01-20 to 2021-02-16. [Here](https://reddit-meta-production.s3.amazonaws.com/distribution/publish/CryptoCurrency/round_10_finalized.csv) is the finalized list, with contribution scores signed by Reddit (users with no signatures yet do not have a registered Vault. They will be able to claim their Moons when they create their Vault through the Reddit app). +When you move bitcoins from a wallet to another and you check like 20 times if the address is correct even if you copied and pasted it. +Am I the only one? +A lot of users are putting themselves in bad positions by trying to time the very bottom and then buying in only to sink with the rest of the market. If you're planning on holding for the long term there is nothing wrong with waiting for there to be sure signs that the market is staying in the green. You are tossing money out the window trying to squeeze the most profit out of questionable stocks like AAL. Wait and sit on cash for a while. +[Only 20% of Americans said they’d feel comfortable going to a gym as of July 13, according to a Morning Consult poll. Another survey, conducted by market-research firm OnePoll and commissioned by LIFEAID Beverage Co., found that 25% of Americans never plan to go back. ](https://news.yahoo.com/amphtml/pandemic-turning-americans-against-gym-155152975.html) + +We know about the 24 hour fitness and Gold's Gym busts, plus Planet Fitness is sitting on a ton of debt it likely can't repay since they were banking on long-term membership growth, but it's possible more Americans become active than ever before in a post-pandemic world. The explosion of digital workout platforms and home equipment could mean traditional gyms are no longer the main players in the industry to benefit from such a rise. + +Gyms won't disappear, but the fitness world, and subsequently the market emphasis, will look mighty different even with Covid out of the picture. +I (30M) contribute 5% because the employer match is 5%. + +I invest around 2k-2.5k a month by myself in SP500, some tech stocks, and robo advising. + +Why is the general advice to contribute more to the 401k, instead of using that money to invest in other places by yourself? Would I be better off in the long run? + +(I'm kinda assuming I don't live that long since no one in my family has lived past 65 or something, so I might take some $ out of the 401k in my 50s) +https://www.ft.com/content/111f8e00-d346-11e9-8367-807ebd53ab77 + +SoftBank, the biggest outside shareholder in WeWork, is urging the lossmaking property group to shelve its hotly anticipated initial public offering after it received a cool reception from investors, according to people briefed on the discussions. + +WeWork’s parent company, the We Company, has been aiming to raise between $3bn and $4bn in its flotation. But it has faced criticism from investors and analysts on Wall Street over its governance, payments made to co-founder and chief executive Adam Neumann and its use of a complicated corporate structure. + +SoftBank and its Saudi-backed Vision Fund have pumped more than $10bn into the office space provider. But SoftBank’s enthusiasm for a listing has waned as bankers have slashed the valuation they believe the We Company can attain when it lists. + +Advisors for the We Company were said to still be testing investor appetite at a valuation of between $15bn and $20bn, according to people briefed on the matter. That is far below the $47bn valuation given to WeWork when SoftBank invested $2bn in the business this year. + +SoftBank itself is trying to raise $108bn for a second Vision Fund to invest in technology start-ups. The Japanese group could face challenges raising that sum if the We Company were to list at a steep discount to its last funding round, the people said. + +WeWork is set to receive $1.5bn from SoftBank next year as part of an agreement struck at the start of this year. The company listed $2.5bn of cash and cash equivalents on its balance sheet as of June 30, according to filings with US securities regulators. + +The We Company, citing mandatory restrictions on communications ahead of an IPO, and SoftBank declined to comment. + +If the We Company were to shelve the listing, it would also lose access to a $6bn loan from a group of banks, including JPMorgan Chase and Goldman Sachs, that was contingent on the IPO raising at least $3bn in new investment. + +The lack of more than $9bn in new capital could force a dramatic change in the We Company’s corporate strategy, including its aggressive expansion that has seen it open 528 locations in more than 110 cities. + +The company has lost more than $4bn since 2016, burning through capital even as its revenues have doubled each year over that period. WeWork said in its IPO filing that it could slow its expansion dramatically if it needed to become profitable. + +But investors have remained sceptical of the business model, which has not yet been tested by a significant economic downturn. Some investors have raised concerns about its practice of leasing office space for a long period — on average for 15 years — while renting to tenants on a shorter basis. + +WeWork has sought to address some of the issues investors and analysts have raised ahead of its IPO. Mr Neumann has returned a $5.9m payment his investment vehicle received from the company for the rights to use the trademarked word “we”. The We Company also disclosed last week that it would add a woman to its all-male board of directors once it completed its listing. +Hello fellow investors! +Do you think Blackberry stock will return to those levels before it crashed ($25-$30) or even higher? I really hope so because I entered at around $19. + +• The company has announced a collaboration with amazon from what I’ve read, they will work on self driving AI together, also they won the Facebook lawsuit and sold some of their old phone patents to Huawei. +I personally have long term faith in the company though I don’t completely understand why it went down (I think maybe because of bug restrictions and people panic selling) + +Anyways write your thoughts about this in the comments. +My loan began January 2020 with the payment due on the 14th of each month. + +The 1st of every month I've gone in person to the bank and made my payment in cash. + +On 4/1/2021 I went in with my cash and the bank teller put the cash towards my principle but not as a payment. + +On 4/14/2021 the account says that I missed my payment. + +5/1/2021 (today), I went in with my cash and made my payment. Later, after the bank has already closed (short hours for being the weekend), I noticed that my receipt has a late payment charge. + +I checked online and my 4/1 payment is credited towards my loan balance but not as a payment and notice the missed payment remark. + +I'll be going down there Monday (5/3) to speak with the teller about this. + +Has anything like this happened before? Has anyone had to fight something like this before? Is there any information I should know ahead of time? If they tell me there isn't anything they can do what would be my next steps? Any agency I can threaten to contact if they don't solve my issue? + +Thank you all for your help. +edit 22 jan 2019: +unbelievable impact map of issues related to HUD and the shutdown. +https://nlihc.org/issues/budget/shutdown-map?fbclid=IwAR0CemEt0jC8yAOIpf5bCpvgayIktWArUJgAFkjrxEyXaSDQi0pgT1RwQRs + +edit 22 jan 2019 to add NY times article +https://www.nytimes.com/2019/01/21/us/politics/government-shutdown-housing-services.html + + +Edited 18 Jan. 2019 to add: + +[PDF factsheet put out the 15th of Jan by The Campaign for Housing and Community Development Funding (CHCDF)](https://nlihc.org/sites/default/files/FY19_Shutdown_Factsheet.pdf) + +Uses words like *"dire consequences"* to describe what will happen if HUD remains unfunded. + +I found that PDF [here; 2-1-1](http://211.org/services/govshutdown) is a number anyone can call from anywhere to be directed to resources in their area. + +end edit. + +&#x200B; + +Section 8 and FHA and Public and Indian Housing all will be affected. + +[Chapa touches on this subject.](https://www.chapa.org/housing-news/federal-government-shutdown-reaches-day-18-and-over-1000-section-8-contracts-expire) + +[This is a PDF of the "contingency plan".](https://www.hud.gov/sites/documents/HUDCONTINGENCYPLANFINAL.PDF) + +Edit: dear lort I forgot to say: + +During the shutdown. ((sorry)) +When it comes to cloud computing, Google is far behind Amazon and Microsoft. Last year... + +**Google pocketed an estimated $3 billion** in revenue from cloud services. + +# Amazon and Microsoft, meanwhile, generated about $27 billion and $10 billion, respectively. + +* Amazon entered blockchain in a big way in 2018 with a suite of tools for building and managing distributed ledgers. + +* Microsoft got into the space in 2015, when it released tools for Ethereum’s blockchain. It now hosts a range of services as part of its Azure Blockchain Workbench. + +# But while Amazon and Microsoft are focusing on making it easier to build blockchain apps, + +# Google is focusing on exposing how blockchains are actually being used, and by whom. + +This is where things get interesting. Last year Allen Day, a data scientist at Google and a small team of open-source developers quietly began loading data for the entire Bitcoin and Ethereum blockchains into Google’s big-data analytics platform, BigQuery. Then, with the help of outside developer Evgeny Medvedev, he created a suite of sophisticated software to search the data. + +# Enter [Blockchain ETL](https://github.com/blockchain-etl) "Extract, Transform, Load" + +Normally, you and i would pull up a **Block Explorer** to go through individual transactions. + +Google's Blockchain ETL lets users make more generalized searches of the **Entire Ecosystems of the Transactions**. + +To put this into an illustration, Day analyzed the Hard Fork of Bitcoin in the summer of 2017, leading to the inception of Bitcoin Cash. + +As we know, there was when there was a disagreement between a group who wanted to leave Bitcoin as it was, against those who wanted to develop a currency that had aspects of cash; cheaper and faster to use for smaller payments. + +# Utilizing Google's BigQuery - They Discovered that Bitcoin Cash, rather than increasing + +# so-called micro-transactions, was actually being hoarded among big holders of bitcoin cash + +As permission-less chains along with their data is publicly available, it's no doubt Google would have a sleight of hand when it comes to data analysis. Last December at the Singapore Hackathon, a Warsaw-based programmer and the creator of a service that analyzes smart contracts: Tomas Kolinko, used Google's tools to search for a smart contract feature called “selfdestruct,” designed to limit a contract’s life span. Using his own software in conjunction with Day’s, **Kolinko took 23 seconds to search 1.2 million smart contracts**—something that would have taken hours before. + +Last August, a Dutch developer named Wietse Wind **uploaded the entire 400 gigabytes of transaction data from Ripple’s XRP blockchain**, another popular cryptocurrency, into BigQuery. Wind’s data, which he updates every 15 minutes, prompted a Danish designer named Thomas Silkjaer to create a heat map of crypto flows. + +The [resulting colorful orb](https://xrpcommunity.blog/the-full-xrp-ledger-visualized/) reveals at a glance more than a million crypto wallets, including big ex­changes like Binance and London’s crypto debit card startup Wirex, which are neck deep in XRP transactions. + +Take a look at this visualized BigQuery map of XRP addresses, the craters represent some of cryptocurrency's largest exchanges: + +[https:\/\/xrpcommunity.blog\/the-full-xrp-ledger-visualized\/](https://i.redd.it/7mk49so3bre21.jpg) + +# This ultimately leads me to several questions as to where we’re heading when it comes to + +# different Enterprise Platforms, Security, Data Analysis, and Privacy. + +**Key Questions** + +1. What are the implications of importing other public blockchain data for analysis such as **ICON**, **AION,** or **NEO** +Will obfuscation of transactions on public networks be several clicks away from exposure for full history? +(note: since privacy isn’t a feature of the following projects) + +2. How far can one analyse **Hybrid Chains** like **AERGO** which utilizes Blocko’s private chain, COINSTACK that’s deployed on a Public Network? + +3. What are the limitations of privacy and potential for exploitation on a semi private blockchain like that? + +4. Will Google also Become the Search Engine for Blockchains very soon? + +5. If addresses can be labelled and analyzed with deep scrutiny, are **Privacy Tokens** and Atomic Swaps a potential solution to achieve Privacy? + +The leverage the data giant Google has makes me shudder on the possibilities, but I suppose I will leave it to the wishful thinking that it’s to be used in good faith to protect the communities in the cryptospace... Naive much? + +# Google may be behind the cloud computing race against the major tech firms, + +# But they very well could already be the next Search Engine for the Blockchain. + +*This post has been extracted from* [*Forbes*](https://www.forbes.com/sites/michaeldelcastillo/2019/02/04/navigating-bitcoin-ethereum-xrp-how-google-is-quietly-making-blockchains-searchable/#357bcddb4248) *to promote discussion and cut to key points.* +The coin with the worst tokenomics in the history of crypto. 1% airdropped, 50% to the team, rest sold to VC’s who recently were able to dump their coins. + +These early investors bought anywhere from as little as 3 cents to around 5$ per coin, currently trading at $67. Every month new supply gets unlocked, increasing sell pressure. The coin itself doesn’t even sound that bad judging from reading about their tech, it’s just the distribution that’s disgusting. Sad to see a decent project getting ruined by greed. I would expect the project to keep dipping just because it didn’t really proof itself and the vast amount of VC’s still being up dozens of “x”s. + +Edit: the ATH used is 700$ from CoinGecko, on some exchanges it’s lower and some way higher like on Binance (2800$). 700$ had decent volume, so imo that’s the correct ATH. +I started in residential Real Estate investing, moved to commercial Real Estate after a few years, and now manage a portfolio of diverse income-producing properties. + +I've always maintained a stock market account with a line of credit secured against it so that I could act quickly on property purchases. For the past several years I've taken advantage of extremely attractive interest rates to finance my properties to their maximum LTV and invested that equity back into stocks. I also keep a separate options account with a much smaller balance for more short-term or possibly speculative plays, but a very large part of my work for the last several years has been stock investing. + +I consider myself a primarily long-term “value” investor but I will happily pursue a position in any stock I feel is under-priced so long as I understand the business and feel I have a better-than-average grasp of the companies near-term potential. In the last 9 years I have beaten the SP500 6 times, twice by >10%, and never been behind by more than 5% in any single calendar year. Since the day I first funded my brokerage account I have achieved a 98% return vs the SP500 62%. + +Here are my current holdings. AMA + +(copy-paste from my personal files. A 0% holding means it's a stock I am following very closely and could be added to my holdings very soon.) + + + + +TECH - 25% (of total portfolio) + + GOOG 45% (of tech sector total) + + QCOM 30% + + ORCL 25% + + INTC 0% + + AAPL 0% + +OIL/GAS - 20% + + ENB 35% + + NOV 30% + + CAM 15% + + VLO 20% + +AUTO - 12.5% + + F 50% + + GM 50% + +FINANCE - 15% + + WFC 33% + + AIG 33% + + TWO 33% + + BRK.b 0% + +REAL ESTATE - 12.5% + + AMT 100% (recently bumped up to my largest single holding) + + + DHI current option play (probable stock buy soon) + +DEFENSIVE STOCKS - 15% + + NSRGY 33% + + KO 0% + + JNJ 0% + + cash atm 66% + + +OTHER - 0% + +**Welcome to the Daily Discussion. Please read the disclaimer, guidelines, and rules before participating.** + +*** +- + +###Disclaimer: + +Though karma rules still apply, moderation is less stringent on this thread than on the rest of the sub. Therefore, consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could be an attempt to manipulate new readers by known "pump and dump (PnD) groups" for their own profit. BEWARE of such practices and exercise utmost caution before acting on any trade tip mentioned here. + + +**Please be careful about what information you share and the actions you take.** Do not share the amounts of your portfolios (why not just share percentage?). Do not share your private keys or wallet seed. Use strong, non-SMS 2FA if possible. Beware of scammers and be smart. Do not invest more than you can afford to lose, and do not fall for pyramid schemes, promises of unrealistic returns (get-rich-quick schemes), and other common scams. + +*** +- + +###Rules: + + - All [sub rules](https://www.reddit.com/r/CryptoCurrency/about/rules/) apply in this thread. The prior exemption for karma and age requirements is no longer in effect. + - Discussion topics must be related to cryptocurrency. + - Behave with civility and politeness. Do not use offensive, racist or homophobic language. + - Comments will be sorted by newest first. + +*** +- + +###Useful Links: + + - [**Beginner Resources**](https://www.reddit.com/r/CryptoCurrency/wiki/beginner_resources) + + - [**Intro to r/Cryptocurrency MOONs 🌔**](https://www.reddit.com/r/CryptoCurrency/comments/gj96lb/introducing_rcryptocurrency_moons/) + + - [**List of MOON proposals that have been implemented**](https://www.reddit.com/r/CryptoCurrency/wiki/moon_proposals) + + - [**rCryptoCurrency Discord**](https://old.reddit.com/r/CryptoCurrency/comments/kth255/join_the_crypto_currency_discord/) + + - [**r/CryptoCurrencyMemes**](https://www.reddit.com/r/cryptocurrencymemes) + + - [**Prior Daily Discussions**](https://old.reddit.com/r/CryptoCurrency/search?q=title%3A"Daily+Discussion+-+"+&restrict_sr=on&sort=new&t=all) + + - [**Monthly Skeptics Discussion thread**](https://www.reddit.com/r/CryptoCurrency/comments/mhj2sb/monthly_skeptics_discussion_april_2021/) +I knew absolutely nothing about how to create a token yesterday at 5 PM. By 6 PM I had created my own token and added liquidity on pancakeswap. I spent $4 to do this. + +I work in manufacturing. I am not an exceptionally tech savvy person. It's just that easy. + +This is a huge problem. The market is completely oversaturated with shitcoins named after a billionaire or dogs. + +It is not good for crypto, we look like a joke. + +&#x200B; + +End rant. + +Edit: I can’t reply to everyone. Most of you were constructive and kind. While I do agree with the sentiment that ease of use is a good thing, I do stand by my opinion that the crypto world looks like a joke right now and It is my opinion that if it was harder or more cost prohibitive to create tokens, the space would not be as cluttered. +I was stuck in the cycle of taking a taxi every single day to stop my 4 year old off at school. I would also take the taxi back home + +Cost me $20 a DAY , money that I didnt even have to waste if I had been organized and productive with my time + +Now what I do is go to bed at a good time, wake up early enough and then well get ready to walk to the bus stop (10 minutes). Then we get on the bus to school (since I finally dont need a stroller) + +Hee enjoys it. Its become a wonderful morning routine lol holding my hand walking to the bus stop, enjoying the weather 😍 + +I also take the bus back home and then get off a few stops before so I can walk home and get some exercise + +Total cost for the day: $2.55 😍😍 + +It's been almost 2 weeks since I've been doing this and I'm proud. I broke the habit 🥂 +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. + +I see a lot of 20ish year olds here talking about their net worth, their financial plans, how they're already saving - and I wonder, how did you learn that? I had just about the opposite upbringing, and am just now, at 31, getting my financial life in order. I have children, and I'd like to do differently for them. I wonder, how did you learn this stuff? Did you just stumble onto r/personalfinance at an early age, or did your parents teach you? I'd love to raise my daughter better than I was raised about this stuff. +It's interest free and it goes up to £2000, but I'm so scared. I had a several horrid issues this year that cost me a lot of money so now I'm stuck in this pit. Come mid September I will get roughly £2870, but my first load of rent is £1600. + +I'll end up further into my overdraft by then, and I'll be right back into it. If I live frugally until my next student loan comes in I should be ok, as my next load of rent is only £1200, which with my next £2879 should leave me with around 900... And I should be completely out of my overdraft permanently then. + +I currently can't get a job because I've got to care for my grandfather over the summer and there is no real way for me to make money until I move back to University. I can't tell my family because they will be so disappointed and disgusted in what I've done. + +Is there any way I can make money from home? Anything at all I can do. I'm selling my PS4, iPod Touch and around 13 games, that should net me £250, but after that there's nothing else I have to sell... + +I really need help. +Hi, + +I am a 32F with 4 kids (2, 4, 6, 7). My husband recently passed away suddenly. He left behind a $1 million life insurance policy and also has about 6 rental properties totaling about $1.5 million and 500K of mortgage. + +So combined that is $2 million and we are obviously going to be fine financially. Right now we are living off about $100K in a savings account but I am looking for advice on what to do in order to properly maintain/invest the money from the life insurance and rental properties. + +**Should I be selling all the rental houses?** Getting a property manager? + +What do I do with the life insurance? Put it in a savings account and just don't worry about it? + +Ultimately I want to be able to stay home and raise my kids (my husband would have wanted this too) and not run out of money. We spend about $4-5K per month. + +Should I hire an money manager? + +Where do I even start? Any help is appreciated. + +EDIT: Thank you all for the comments and well wishes. I'll try my hardest to reply to each one. +I work in the Houston Oil & Gas sector and the unconfirmed rumor on the street is Tellurian have restarted their $10bn Driftwood LNG export project in Louisiana, which was halted to due Covid and funding. +Market moves this morning seems to support the rumor. +Do your own DD but the 2 main people behind the company, Charif Souli and Martin Houston, speak for themselves + + +$TELL +Was trading at +$10 pre-Covid/project delay +Now at $2 so x5 potentials + +Nothing formal in the news, just firsthand rumors from guys working on the adjacent LNG project who see activity on site and know people in the construction team + +I’m in for 3,500 at 1.7 ++25% up this morning already + +I’ll update as I hear more +“"The (Securities and Exchange Commission) works for Wall Street," Byrne said in an interview "It doesn't work for Main Street. “ Patrick Byrne CEO Overstock.com + +&#x200B; + +[SEC desperately wants to show their loyalty to the DTCC. Showing up in court to defend their criminal behavior or plead immunity against victimized companies and shareholders. I don't know what's worse being called inept and useless or being played for a fool](https://preview.redd.it/k23ksxwffmn91.png?width=976&format=png&auto=webp&s=15126b8db32bf8690b3a2af6d38490678f6b62c4) + +**“**DTCC receives **support in state and federal lawsuits from the SEC, who files a brief defending the trade-processing system and arguing that federal regulation preempted state-court review.** ***The Clearing Agencies contend in effect that their role in the clearing and settlement process is too important, that the national market system is too fragile, and that the disruption threatened by fraud claims at issue is too great to permit cases to go forward.*****” The SEC is the DTCC’s public defense attorney”** + +“It would be most unwise, nevertheless, to underestimate the strength of hostile elements. When open mass resistance fails, there is still the opportunity for traps, stratagems,intrigues and undermining. The new laws are no panacea; nor are they self-executing. More than ever, we must maintain our vigilance. ***If we do not, Wall Street now looks forward to the day when it shall, as it hopes, reassume the reigns of its former power.***” Ferdinand Pecora February 1939 the lawyer who put Wall Street under oath and installed the Security Exchange Act of 1934 + +***DTCC the Tower of Power*** + +Depository Trust Clearing Corp – U known as the DTCC, **this privately held company is owned by the prime brokers and Banks** and it clears, transacts and holds most stock in this country. How can a self regulated private entity fit the requirement of the [Securities Exchange Act of 1934 ](http://www.law.uc.edu/CCL/34Act/) that prominently discussed a "National System for Clearance and Settlement of Securities Transactions" which would r**equire government oversight**. **The Stock Exchange must recognize the existence and authority of the United States Government. How is the DTCC fulfilling this obligation?** + +**The old regime never left and the fact that we are right back to where we began is proof enough** + +Under the surface of the governmental regulation of the securities market the same forces that produced the riotous speculative excess of the “wild bull market” of 1929 seems to have never left, and till this day continue their same old tricks clearly proving the scientific community correct when stating that “time is merely an illusion.” Since 1791, The New York Stock Exchange had exercised complete control over its own practices and jealously guarded its self bestowed privileges. Despite the fact that it was intimately intertwined at a thousand points with the vital interest of the public, it knew and still knows no law but its own will. Bitterly hostile was Wall Street to the ***enactment of the new regulatory legislation with the implementation of the Securities Exchange Commission that had been granted very effective and far reaching powers which was necessary in dealing with an institution like the New York Stock Exchange,*** To have done otherwise would be like putting a baby in the cage with a tiger to regulate the tiger. + +Shareholders and victimized companies have waited patiently, witnessing proposed rule after proposed rule finally after months of the SEC purposely dragging their feet to only be met with another rule that has a loophole in order for the same criminals within the system to continue with the same crime, Abusive Naked Short Selling and Fails to Deliver. The DTCC was only implemented in order for Wall Street to take back the control of the same criminal activity that brought on the Great Depression, they had to find a way around the Securities Exchange Commission, they had to find a way to gain back the power to abuse, steal, and bully their away back to a self regulated, unrestrained criminal organization, and the SEC has helped them every step of the way. First they did not do their job that was asked of them not only by congress but also by the Department of Justice who warned the SEC that the DTCC was in danger of monopolizing the clearance business. But the SEC like the sad sap it is did what they always do, stand by and allow the DTCC to push their way through: + +The Sec had been given several chances to make sure the DTCC did not gain monopoly over the financial sector and they failed allowing the DTCC to walk all over them and take full control in essence turning the SEC into their patsy and public defender. There were a series of 1975 amendments to the Securities Exchange Act of 1934 that, ironically, were originally designed to enhance competition with the U.S. securities clearing and depository markets. These amendments prohibited the Securities and Exchange Commission (SEC) from granting NSCC and DTC monopolies over their respective industries. Instead, Congress ordered the SEC “to facilitate the establishment of linked or coordinated facilities for clearance and settlement of transactions in securities.”In turn, the SEC ordered NSCC, DTC, and other clearing agencies to “establish full interfaces or appropriate links with the clearing agencies of designated regional exchanges. Put simply: Congress and the SEC sought to use open access and interoperability requirements to promote more vigorous competition.Yet less than thirty years later, NSCC and DTC were the last firms standing. + +&#x200B; + +[The only thing the SEC in known for is not doing their job, dragging their feet and consistently missing red flags that end up costing millions of taxpayers huge losses, these are not mistakes, they are complicit.](https://preview.redd.it/30f8ccn0imn91.jpg?width=1080&format=pjpg&auto=webp&s=c8a47f5fd6d986db12c86c2ab4678937bad1d667) + +The SEC has been woefully remiss in its duties to enforce the law. Rule 10b-21 makes it an unlawful manipulative or deceptive practice for any person to submit an order to sell a security if such person deceives a broker dealer or purchaser regarding the seller's intention or ability to deliver the security on the date delivery is due, and such person fails to deliver the security on or before the date delivery is due. This "fail to deliver" or FTD of the underlying security is the crux of the problem with "naked" short sellers. The immediate impact on those who "bought" these phantom or counterfeit shares from "naked'' short sellers is that they are, in effect, involuntarily loaning the stock to the short seller. In such a case, they also are deprived of voting rights that otherwise would be theirs if they possessed the stock, and may even suffer differing tax treatment of substitute dividends which unfortunately has caused serious issues with the companies that issue the dividends and their many shareholders. All the proposed and implemented anti-fraud rule has added nothing to \[the SEC's\] arsenal" and simply "delays the Commission in implementing a truly effective rule because of the waste of resources in rulemaking for authority the staff already has. I will show through years of documented comments, complaints, congressional hearings, litigations that the SEC turned in its badge that was given to them in 1934 “whom were granted far-reaching powers, severe penalties, both civil and criminal, were enacted for the violation of the law, and the Commission was given powers to enforce its regulations”. It will be shown that the SEC now is the public defender and legal hit man for the DTCC that they are being manipulated in order for the DTCC to undermine the government by consistently standing behind the shadows of the SEC only to use this as a power play to make individual shareholder and victimized companies feel that the DTCC is too big to fail, immuned from regulations, and are untouchable. **I will show you through this documentation that the SEC has chosen their master and that they are complicit and negligent, the documentation shown here the SEC has also received so I now leave this to the opinion of the people as to where shareholders and victimized companies stand, who protects them?** + +**For years upon years shareholders, congress, lawyers, business owners continue to ask one universal question: why does it seem that the SEC refuses to do the job they are suppose to be doing? Well now that you have seen which side they chose when met with shareholders in victimized companies file litigations, what a demeaning feeling to be a victim and realize the regulatory agency who you were told was on your side walks right by you and defends the criminals…what gall? Maybe if the allowance of the revolving door that motivates them in the wrong direction could end, some of this gross negligence, corruption, and plain disregard for the Laws they are supposed to uphold would stop. it's like the wild west and the sheriff has run out of town.** + +**DANGEROUS LIAISONS Revolving Door at SEC Creates Risk of Regulatory Capture** + + + +https://preview.redd.it/don30a4ohmn91.jpg?width=794&format=pjpg&auto=webp&s=df0d0354bdf24e797058f520107adfa81d6c57c0 + +**A report by the Project On Government Oversight Feb. 11, 2013** + +**“Former employees of the Securities and Exchange Commission (SEC) routinely help corporations try to influence SEC rulemaking, counter the agency’s investigations of suspected wrongdoing, soften the blow of SEC enforcement actions,** ***block shareholder proposals, and win exemptions from federal law.” The revolving door was on display in 2012 when the investment industry opposed one of the top priorities of the SEC chairman, a plan to tighten regulation of money market funds. Former SEC employees lobbied to block the plan, and an SEC Commissioner who previously worked for an investment firm played a pivotal role in derailing it. The movement of people to and from the financial industry is a key feature of the SEC, and it has the potential to influence the agency’s culture and values. It matters because the SEC has the power to affect investors, financial markets, and the economy. Yet, the SEC has exempted certain senior employees from a “cooling off period” that would have restricted their ability to leave the SEC and then represent clients before the agency. In addition, the SEC has shielded some former employees from public scrutiny by blacking out their names in documents they must file when they go through the revolving door.*** + +When the then-chairman of the Securities and Exchange Commission (SEC) was asked in early 2012 what kept her up at night, she pointed to money market funds, the supposedly safe investment vehicles that played a role in the financial crisis of 2008 and today manage $2.7 trillion for investors. As Mary L. Schapiro tells it, money market funds remain so vulnerable to sudden waves of withdrawals that they “pose a significant destabilizing risk to the financial system.” At the height of the 2008 crisis, Schapiro has testified, a $300 billion run on money market funds ended only when the federal government put taxpayer money on the line to backstop the industry. Since then, the kind of federal guarantee used to stop the run has been outlawed, making any future meltdown harder to contain, she said.3 Investors in money market funds “have been given a false sense of security,” Schapiro said in a February 2012 speech. “Today, the money-market fund industry...is working without a net,” she added, comparing the situation to “living on borrowed time. Schapiro was not alone in sounding the alarm.5 A council of federal regulators headed by outgoing Treasury Secretary Timothy F. Geithner unanimously called for additional reforms, noting that money market funds are still susceptible to the kinds of runs that made the financial crisis more severe.Former regulatory leaders, including Sheila C. Bair and Paul Volcker, have echoed the call for reforms.But when Schapiro tried to tighten regulation of money market funds, she encountered powerful resistance. In August 2012, without even bringing her proposal to a vote, she acknowledged that she was blocked. There was no point in calling a vote, she said, because three of the SEC’s five commissioners had stated their opposition. Many of the people who lobbied the SEC on this issue on behalf of the investment industry had traveled a familiar path: they once worked at the SEC but had gone through the revolving door to join the industry. + +**https://ourfinancialsecurity.org/wp-content/uploads/2013/02/20130211-dangerous-liaisons-sec-revolving-door.pdf** + +**BONI ANALYSIS OF FAILURES-TO-DELIVER-2004** + +**(they know)** + +A study that has been cited by many professionals and well known scholars throughout the year documents that significant failures to promptly deliver shares sold short (“fails” or “failures”) are not, as many market participants assume, rare, brief and inadvertent, but rather pervasive, extended and deliberate. **The analysis was done by Dr. Leslie Boni, recently a visiting financial economist at the SEC** and now economics professor at the University of New Mexico. Boni’s data show that failures-to-deliver affect almost all public companies and usually last several weeks. On any day, there are 180 million-to-300 million shares involving more than 10 percent of public companies that have gone undelivered for at least two months. Failures of these dimensions can seriously distort the normal economic operations of U.S. equity markets. The National Securities Clearing Corporation (NSCC) gave Boni unique access to data on undelivered stock for three random days (9/23/2003, 11/17/2003, and 1/21/2004), including the number of shares, by company, sold but not delivered for each clearing firm, with how long the shares had gone undelivered, for all listed stocks (NYSE, NASDAQ and AMEX) and unlisted stocks (OTC-Bulletin Board and Pink Sheets). These data produced the following key findings: + +On any given day, there are some 120 million to 180 million shares of companies listed on the NYSE or NASDAQ and some 300 million to 420 million shares over-the-counter (OTC) or unlisted public companies – a average total of 510 million shares – that have been sold and gone undelivered for several weeks. Her conclusions came from official data of the DTCC, the organization that clears and settles all U.S. stock sales and purchases, and holds most of these assets inA new study documents that significant failures to promptly deliver shares sold short (“fails” or “failures”) are not, as many market participants assume, rare, brief and inadvertent, but rather pervasive, extended and deliberate. + +Boni’s data show that failures-to-deliver affect almost all public companies and usually last several weeks. On any day, there are 180 million-to-300 million shares involving more than 10 percent of public companies that have gone undelivered for at least two months. Failures of these dimensions can seriously distort the normal economic operations of U.S. equity markets. The National Securities Clearing Corporation (NSCC) gave Boni unique access to data on undelivered stock for three random days (9/23/2003, 11/17/2003, and 1/21/2004), including the number of shares, by company, sold but not delivered for each clearing firm, with how long the shares had gone undelivered, for all listed stocks (NYSE, NASDAQ and AMEX) and unlisted stocks (OTC-Bulletin Board and Pink Sheets). These data produced the following key findings: + +● Failure-to-deliver are pervasive: 80.3 percent of all listed stocks and 58.2 percent of unlisted stocks had failures-to-deliver shares sold short on at least one of the three days examined in the study. + +● These failures are substantial and extended: Among listed stocks with fails, total failures averaged 0.19 percent of a firm’s outstanding shares, and their duration averaged 13 business-days. For unlisted stocks with fails, total failures averaged 1.56 percent of the firm’s outstanding shares, with an average duration of 56.6 business-days or almost three months. + +● Very extended failures-to-deliver are common: On any day, over 1,000 listed stocks have failures-to-deliver shares sold short that have persisted for at least one month (20 business days), and more than 700 listed firms have fails at least two-months old (40 business days). For unlisted stocks, over 900 have fails at least one-month old and over 800 have fails at least two-months old. + +● Very extended failures-to-deliver are also substantial: o On any day, there are 60 million-to-120 million shares of listed companies that have gone undelivered for at least two months (40 business days); the number of shares of unlisted companies that remain undelivered for at least two months averages 120 million-to-180 million/day. 1 o On any day, 4 percent of all listed stocks had failures-to-deliver equal to at least 0.5 percent of its outstanding shares for at least 10 business-days (the new standard for “threshold” securities under SEC Regulation SHO). The dimensions and duration of this phenomenon indicate, as **Boni concludes, that most failures-to-deliver are “strategic” or deliberate, not “inadvertent delivery errors or delays.**” It is clear that these failures do not reflect lack of opportunities to borrow shares in order to complete the transaction: In addition to the NSCC’s stock-borrow program, a substantial private market in stock loans also exists through institutional investors. + +**Boni believes that the main reason for such extensive failures is cost: Short sellers deliberately choose to not deliver shares that would be expensive to borrow. In this regard, Boni shows that the likelihood of persistent fails increases with a stock’s borrowing cost**. Whatever the motive, the large-scale, extended naked shorts documented by Boni’s data have been part of way Wall Street, the NSCC and its parent Depository Trust and Clearing Corporation (DTCC) conduct business. **The DTCC and NSCC, owned by the major broker-dealers and banks, have had these data for years without releasing them, notifying the SEC or even suggesting that a problem has existed. Further, while NSCC rules have long allowed brokers who fail to receive their shares to direct the NSCC to “buy in” those shares, this option has been rarely used: Boni’s data found, for example, that in 1998-1999, one market maker failed to deliver all or part of the shares sold in 69,063 transactions; but the NSCC eventually bought in the shares in only 86 of these cases or barely one-tenth of one percent.** + +&#x200B; + +&#x200B; + +https://preview.redd.it/fx2v6qznjmn91.jpg?width=560&format=pjpg&auto=webp&s=c344f6775e21cb26df56e3bd85680608f95e290a + +&#x200B; + +Many concerns have been expressed through several Congressional Hearings that specifically call out many failings of the SEC. Let's start with 1933-1934 As all the Big Wall Street players were brought under oath before the Banking and Currency Committee of the United States Senate to testify about how they helped create the great market collapse of 1929 aka the Great Depression…lets see why the Security Exchange Commission was an absolute necessity as the police of WallStreet. + +The excesses and abuses revealed sprang from many sources. But the Committee’s investigation showed clearly that the t**wo chief instruments which facilitated these abuses were the investment affiliate and the secrecy which the management was allowed to operate.** Without the affiliate to act as an alter ego of the Bank free from the wise restrictions of the National Banking Act, most of the mischief could not have been initiated. **And had there been full disclosure of what was being done in furtherance of these schemes, they could not long have survived the fierce lights of publicity and criticism.** + +The Senate Committee’s investigation however, established beyond doubt that whatever evils were inherent in the situation were enormously aggravated by the speculative and manipulative practices of Wall Street. It was not inevitable that securities should rise to astronomical heights, only to be thrown clear down to the bottom. Far from being an impartial forum for the free play of supply and demand, as pictured by its authorities, **the Exchange was in reality neither more nor less than a glorified gambling casino (sounds familiar?)** where the odds were heavily weighted against outsiders, On this “free and unrestricted market” there were operating in 1929 pools, syndicates, joint accounts in no less than 105 public stocks listed on the New York Stock Exchange. The public who bought these stocks at dizzily mounting prices did not do so merely because of impersonal economic forces; they were the victims of a determined organized group of market-wise operators, armed with special information and special facilities, and backed generously with banker credits. + +The testimony had brought to light a shocking corruption in our banking system, a widespread repudiation of old fashioned standards of honesty and fair dealing in the creation and sale of securities, and a merciless exploitation of the vicious possibilities of intricate corporate chicanery. The public had bad been deeply aroused by the spectacle of **cynical disregard of fiduciary duty on the part of many of its most respected leaders; of directors, who conveniently subordinated their official obligations to an avid pursuit of personal gain (SEC) Wall Street operated as a private club for the individual benefit of their members** + +For the first time Congress sought to regulate operations on the New York Stock Exchange and the other securities exchanges, and to protect the public from the multitude of sharp practices that flourished there. **They created a new body, known as the Securities and Exchange Commision, to whom they were granted far-reaching powers. This was indeed necessary in dealing with such an institution as the New York Stock Exchange. Severe penalties both civil and criminal, were enacted for the violation of the law, and the Commission was given the power to enforce its regulations.** + +**Risks That Hedge Funds Pose To The Banking System** + +**Hearing Before the Committee on Banking, Finance, and Urban affairs, House of Representatives, April 13, 1994** + +**Bernie Sanders: Hedge Funds allow a few wealthy individuals to obtain astoundingly heavy leverage from banks for risky investments. If the investment is profitable, the rich get richer. However, when Hedge Funds lose, they default on their loans and the banks, therefore the American people, pay the price. We need to understand bank exposure to hedge funds and to be sure that banks are aware of the risks that hedge funds take, are monitoring their loans to hedge funds, and are demanding sufficient leverage for the loans.** + +**Furthermore, pension funds, insurance companies, and charity foundations increasingly participate in hedge funds. thus , the beneficiaries of theise fiduciary institutions, including the elderly, the sick, and the poor, are directly affected by the funds gigantic losses.** + +&#x200B; + +**Congressional Record Volume 153, Number 117 (Friday, July 20, 2007)**\] + +NAKED SHORT SELLING + +Mr. BENNETT. + +I want to use this opportunity to call it to the attention of the Senate.I am talking about a practice that occurs in the stock market that has the very interesting name of naked short selling. That conjures up all kinds of interesting images in many people's minds, but this is what it is: It is a practice where somebody sells short a particular stock and never ever has to cover the sale. Now, even that may be too much stock-market-type jargon for people to understand what I am talking about. So let me quote from an article that appeared in the Wall Street Journal a few weeks ago. + +Mr. BENNETT. Quoting from the article, it says: + +The naked \[short selling\] debate is a product of the revolution that has occurred in stock trading over the past 40 years. Up to the 1960s, trading involved hundreds of messengers crisscrossing lower Manhattan with bags of stock certificates and checks. As trading volume hit 15 million shares daily, the New York Stock Exchange had to close for part of each week to clear the paperwork backlog.As an insert in the quotation, I remember those days. I was trading in the stock market at the time, and having the market shut down to clear the back office paperwork was not an unusual experience. Going back to the article: That led to the creation of DTCC--Those are initials for the Depository Trust and Clearing Corporation--which is regulated by the SEC. If I might, as an aside, **I do not think that last statement is true. I am not sure that the SEC has control over the DTCC.**Almost all stock is now kept at the company's central depository and never leaves there. Instead, a stock buyer's brokerage account is electronically credited with a \`\`securities entitlement.'' This electronic credit can, in turn, be sold to someone else.Replacing paper with electrons has allowed stock-trading volume to rise to billions of shares daily. The cost of buying or selling stock has fallen to less than 3.5 cents a share, a tenth of paper-era costs.But to keep trading moving at this pace, the system can provide cover for naked shorting, critics argue. If the stock in a given transaction isn't delivered in the 3-day period, the buyer, who paid his money, is routinely given electronic credit for the stock. While the SEC calls for delivery in three days, the agency has no mechanism to enforce that guideline. + +This is where the practice of naked short selling comes in. I did not really understand it until I had some investment bankers--not the kind you find on Wall Street but the more modest kind you find in Salt Lake City--sit me down in front of a screen and show me what happens with + +stock trading. To put it in the simplest terms, someone who wants to sell short--that is, sell stock he does not own--will place a sale order. Now, when I first sold short as a participant in the market, **my broker gave me this crude little poem to remember. He said: \`\`He who sells what isn't his'n, must buy it back or go to prison.'' He said: You have to understand, if you sell a stock short, the time is going to come when you are going to have to buy it back to cover that sale by delivering shares.** In the days the Wall Street Journal talked about, + +that meant buying a crinkly piece of paper--a stock certificate--and + +delivering it so you have covered your short sale.Today, that is not the case because all of the stock certificates are gone, and the crinkly pieces of paper have been replaced by electronic + +impulses in a computer. So this is what happens. + +A short seller enters the market and says: I want to short--I want to sell--1,000 shares of + +XYZ stock. That means at some point he has to produce 1,000 shares to + +cover his sale. How do you do that? You borrow the shares, and then you + +buy them back at some future time. All right. From whom do you borrow them? **The DTCC. They have all the shares on deposit, and so you go to the DTCC and you say: I want to** + +**borrow 1,000 shares of XYZ stock. They say: Fine, we have them on deposit. We will lend them to you so you can use them for your short sale.All right, everything is fine--except in this electronic age, it is possible for you to keep shuffling around the electronic impulses that represent the stock and never ever have to buy it back.** Stop and think about that. That is a pretty good business plan. You can sell as much as you want and never ever have to pay for it. If a stock is trading at $5 a share, you could go in and sell 1,000 shares, and you get paid $5,000 for selling 1,000 shares, and you never have to buy them. Because you are constantly moving around the electronic impulses that represent those shares, you never have to cover. + +**Now, when you talk to the DTCC people, they say: No, we always make sure there is a delivery. And if there is not, it is not our fault. It is not our responsibility to police this. It is up to the brokerage houses to do this.** + +The SEC has spent enough time looking at this and enough time talking to me that they issued to me a three-page letter outlining the steps they have taken to stop the practice of naked short selling. The ACTING PRESIDENT pro tempore. Without objection, it is so + +ordered. + + Mr. BENNETT. I think the SEC letter goes a long way--the SEC actions go a long way. Without getting too technical about it, they have taken a number of steps to prevent what are called \`\`fails to deliver'' and, herefore, to try to stop the naked short-selling situation. **But I have discovered something that appears to be a way around the SEC rules.** Here is the transaction: + +Broker A shorts 1,000 shares. At the end of 13 days, which is the period he has to produce the shares, he has been unable to find any--probably hasn't even looked--but he has + +this requirement under the SEC rule to produce 1,000 shares. So he goes to broker B and says quietly: Sell me a thousand shares. Broker B says: I don't have any. Broker A says: It doesn't matter, sell me a thousand shares so I can cover. Broker B: All right. I will sell you a thousand + +shares so you can cover and there will be no passage of money; this is a deal between the two of us--a rollover. At the end of 13 days, broker B has to deliver a thousand shares, so broker A + +sells the same 1,000 phantom shares back to broker B, and they ping-pong these back and forth for as long as they want. So you have a situation where people are selling shares that + +don't exist, taking commissions on the sale, and the profits of the + +sale, and never, ever having to produce the shares. + +I would like to suggest several things I would like to discuss at that hearing. First, by the way, I want the officials of the DTCC to have the opportunity to come in and explain how it works. I have seen letters to the editor in the Wall Street Journal, where they say this article is inaccurate, and I don't want to be relying on this article if it is inaccurate. I think a congressional hearing is a good place for those who are running the DTCC to explain to us how it works. I + +would like the SEC to come in and give us their background and nformation as to how their rules are working to try to stop the naked short selling. But I have these two additional recommendations that I would hope we could get done by regulation and, if not, I am prepared + +to introduce legislation to deal with them. + +**First, I think there should be a rule which says there cannot be borrowing, that brokers cannot borrow for short sales more stock than is on deposit with the DTCC**. I think that is obvious. If there are 3 million shares of XYZ Company on deposit at the DTCC, people should not be able to short sell 4 million shares. I have seen the situation where people with these small companies--and all this happens primarily in ittle companies--people with small companies, in an effort to defend their stock against the short sales that are rolling over, are buying stock, and it is electronically credited to them and end up on paper, or at least on computer, owning more shares than exist. How can that be? **If somebody buys the stock for his company and ends up owning 110 percent of the issued stock, and people are still selling that stock, you know you are dealing with phantom shares.** + +**So my first recommendation would be that the DTCC cannot make available as loans for short sellers more stock than they have on deposit.** Once they have reached the point that 100 percent of the shares they have on deposit have been loaned out, they can't loan out + +any more. I think that is an obvious commonsense recommendation, but it + +doesn't apply now. + +Secondly, I think there ought to be a rule which says a broker cannot be paid a commission on a short sale until the shares are delivered. Back to the business model. The broker sells $5,000 worth of stock. He can do it every day. He can get $5,000 every day, without ever having to cover the stock, and he gets a commission on making the sale. So if + +you say, no, there will be no commissions paid until the stock is delivered, you will have a significant impact on stopping this activity. The one thing that convinced me this was real was when the investment bankers sat me down in front of a screen and showed me the stock + +trading of **a company that has been out of business for 3 years, and the stock trades regularly, every 13 days.** You know exactly what they are doing. The brokers are rolling the stock back and forth every 13 days, so they are meeting the SEC requirements--they are delivering--but the shares they are delivering to each other back and forth do not exist. + +The company was driven out of business by the short sellers who made it impossible for them to go to the capital markets. + +There are people starting businesses and creating entrepreneurial activity in the United + +States that we owe it to them to find out exactly what is going on with respect to this activity. **That is why I have asked Chairman Dodd to consider a hearing on this matter to let us hear from the SEC, to let us hear from the DTCC, and to let us hear from those in the marketplace who have actual experience and see if the present SEC rules are sufficient or if we need to do additional things along the lines of the two items I have suggested.** + +**FAIRNESS OF FINANCIAL MARKETS** + +\`We had another word for this in Brooklyn,'' said Harvey Pitt, a former SEC chairman. \`\`The word was \`fraud.'' congressional meeting 2008 + +SEC has repeatedly recognized that naked short selling can depress stock prices and have harmful effects on the market. In adopting a naked short selling anti fraud rule, Rule 10b-21, in October 2008, the Commission stated, \`We have been concerned about \`\`naked'' short selling and, in particular,abusive \`naked' short selling, for some time.Where does this leave us, Mr. President? + +“We have an SEC that is ostensibly concerned about abusive naked short selling, but we have an enforcement division--after receiving literally thousands and thousands of complaints about naked short selling--that has brought no enforcement actions and doesn't take seriously an IG audit and recommendations.This is an outrage.” + +Mr. KAUFMAN. Mr. President, I wish to spend a few minutes talking about action that needs to be taken to restore the credibility of the fairness of the American financial markets On Monday, Senators Isakson, Tester, and I introduced S. 605, which directs the Securities and Exchange Commission to write regulations hat will deal effectively with abusive short selling. + +One of the abusive techniques addressed in the bill is so-called \`naked short selling.'' Naked short selling is when traders sell shares they don't own and have no ability to deliver at the time of sale--which dilutes the value of a company's shares and can drive prices down artificially. Before the ink on our bill was even dry, we received a profoundly disappointing report from the SEC's inspector general entitled \`\`Practices Related to Naked Short Selling Complaints and Referrals,'' + +a report detailing the results of an audit on the SEC Division of Enforcement's policies, procedures and practices for processing complaints about naked short selling. + +An astounding 5,000 complaints about abusive short selling were sent to the SEC's Enforcement Division between January 1, 2007 and June 1, 2008. There could be no mistaking the scale of the potential problem that that number of complaints reflected. Incredibly, a mere 123 complaints were referred for further investigation. Worse, and I quote: \`none of the forwarded complaints resulted in enforcement actions . . + +.**'' Five thousand complaints, zero enforcement actions.** + +Not surprisingly, the SEC inspector general has concluded that the processes for dealing with such complaints need a fundamental overhaul. Accordingly, the IG made 11 suggestions for improvements. And how did the Enforcement Division respond? It agreed to one of the IG's recommendations, and declined to move on the rest. I have been around Washington and the Senate for 36 years, but rarely have I seen an inspector general's call for action so summarily dismissed In its comments to the IG report, the SEC Enforcement Division stated: + +***There is hardly unanimity in the investment community or the financial media on either the prevalence, or the dangers, of\`\`naked'' short selling.*** + +I ask my colleagues: Why would the SEC Enforcement Division want to wait until there is unanimity in the investment community and the financial media to enforce the law? Why would the SEC Enforcement Division in its comments to the IG report want to give a virtual \`green light'' to continued abusive naked short selling? That is an enforcement division that is not worthy of its name. In the IG's response to the Enforcement Division, the IG notes that it is \`\`disappointed'' that the Enforcement Division only concurred with one of the recommendations in the audit report. The IG is \`\`particularly concerned'' that the Enforcement Division did not concur in its first three recommendations--that the Division should develop a written in-depth triage analysis for naked short selling complaints. + +[https://www.reddit.com/r/Superstonk/comments/u2tts8/the\_multiple\_problems\_at\_the\_secunheeded/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/Superstonk/comments/u2tts8/the_multiple_problems_at_the_secunheeded/?utm_source=share&utm_medium=web2x&context=3) +We’ve all seen this in one way or another, hell maybe some of us has exhibited this ourselves in the past. + +I��ve had friends and family tease about crypto back in 2018 after the crash when just weeks ago they were curious and were talking about how they wish they had taken advantage of the opportunity before it blew up. Though when this opportunity re-presents itself, they run for the hills. This is repeating itself now and it’s only a fraction of what happened in 2018. + +It’s not easy sticking to your guns and continuing to hodl and make reoccurring purchases through the dark times. But when you do, and you’re now up 1000%’s they’ll call you lucky. + +Luck is often when preparation meets opportunity. Stay prepared and the opportunity will present itself. + +Granted, recent market conditions are only an extremely small blip compared to the 2018 crash and ensuing bear market, but the pessimism is already apparent. +Hi, so i decided to leave big four accounting and have effectively doubled my salary. I am looking to buy a house as i am currently living with my parents. + +What advice would you give someone in my position who will start making significantly more money? + +I noticed a lot of people complaining about private health care so my conclusion was that i will just pay the 2% extra to Medicare and not opt into private hospital cover. + +What money managing/decision would you give (besides the usual, invest in ETF)? +I figured this could go here because I don't want to do any research, but if I pay $15K in taxes a year, can't I just lose $15K in stocks a year and it's exactly the same if I sell them for a loss? +As you probably have heard in the news, MrBitcoin got some NFC chips installed in hands and did some experiments with these NFC chips to store Bitcoin (as a sort of holy grail of wealth management) but found it insecure at the time (32 Bits encryption max on the NFC chip but only really usable if private key was in clear text...) so a solution was needed. + +The guys at Mycelium have been really responsive in implementing suggested changes into their Mycelium Bitcoin Wallet for Android and am happy to say that we have just (like an hour or so ago) concluded tests here with a new DEV version of Mycelium wallet that implements encryption of the private key (BIP38) for NFC tags so now everyone can store their Bitcoin safely and encrypted in their hands without fear of someone scanning your hand and steal your coins. To store your Bitcoin in encrypted format on your NFC implant, just write a new dataset to the tag with the BIP38 encrypted private key in the following format: + +bitcoin:6PfWGtqk3Z4FzZQxUSPdNMVZDCANuXLe27FqfLyWEAgo4w94b6i5aScs4e + +Scanning this tag will start your Bitcoin wallet (in this case Mycelium) that will recognise the tag is a BIP-38 encrypted Bitcoin private key so will prompt you for your password before displaying balance or allowing any transfers. All in all, the experience is very smooth and very secure. + +A Big thank you to all the guys at Mycelium, Dangerous Things and the staff at MrBitcoin for helping to push the boundaries of contactless payment systems. + +What strikes me most is that the whole project (from idea till completed tests) took about a week or so to implement, something impossible in the existing payments industry. + +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. + +I’m 22 years old and I’ve work over 25 jobs in the last five years. Mostly warehouse jobs. I need to know how to break the habit of quitting jobs to fast. I’m going back school to better my self but I feel like Im not The smartest person. But I wanna keep trying. Any advice + +Edit: To clarify more. I never gotten fired before. I always quit on my own record +As a avid follower and supporter of both crypto and musk, I don't think the Doge fans quite realise that he's taking them and all crypto for a sarcastic ride. + +If you've followed Elon's thoughts on crypto you'll know he's long been a cynic.. even at a time when he was applying his cunning satire to make out he was a doge fan. + +Recently many could have been mistaken for thinking Elon has had a change in heart towards crypto.. I was the same. + +However his consistent shilling of Doge is making it clear that it's just Elon's warped sense of Twitter humour at play and by pumping doge in tweets he's just taking the piss out of doge and crypto at the same time. + +In someways he's correct.. when the world's richest man can pump a meme coin in to the top ten largest cap coins by simply tweeting.. it is slightly embarrassing. + +A lot of innocents are going to get burned when the doge gets an injection of reality putting it down. + +When that happens.. not one f**k by Mr Musk.. who doesn't hodl any crypto let alone doge.. will be given. + +As much as I admire the guy.. he is taking the piss out of crypto here. + +**Edit: +13hrs after posting it transpires Tesla has invested $1.5 billion in bitcoin. +Also since this post Elon has continued to shill doge.** + +**Filing wording (note no mention of doge)** + + +*"Thereafter, we invested an aggregate $1.50 billion in bitcoin under this policy. Moreover, we expect to begin accepting bitcoin as a form of payment for our products in the near future, subject to applicable laws and initially on a limited basis, which we may or may not liquidate upon receipt."* + +**Latest Doge Tweets** + +https://twitter.com/elonmusk/status/1358319935978496001?s=20 + +https://twitter.com/elonmusk/status/1358542364948668418?s=20 + +https://twitter.com/elonmusk/status/1358558894813892608?s=20 + +https://twitter.com/elonmusk/status/1358300669178826752?s=20 + +https://twitter.com/elonmusk/status/1358300198041133056?s=20 + +Cynics will say.. ahh you were wrong he does support crypto. + +Supporters will say.. still no mention of Tesla buying or supporting doge.. so he's still taking the piss/ trolling. + +Doge (the world's first anti-alt meme crypto) is now up to number 9 by market cap and only 0.5b away from Litecoin (crypto's oldest most prolific altcoin..) which for many old coiners will most likely be seen as a somewhat of a travesty including Dogecoins original creator. + +https://www.reddit.com/r/CryptoCurrency/comments/lfaomo/my_joke_cryptocurrency_hit_2_billion_and/?utm_medium=android_app&utm_source=share + +Don't get me wrong the original dogecoin era was a laugh and good fun however.... +For me this like a 50 year old Dad thats just discovered the internet, trying to be all cool sharing memes from 2013.. all a little cringey TBH.. but hey every dog deserves its day in the sun just hope the owners have their sunscreen on to avoid getting burned ;) + +Side note: Interestingly Elon switched his crypto tweets from pumping doge to pumping BTC back to pumping doge around the time it looks like they've bought bitcoin.. it will be interesting to see if this could be classed as 2021 crypto style market manipulation in any way.. Elon may have been worried about it so hence the #bitcoin being removed from his bio and a switch back to doge to be safe not so long ago. Eco warriors will point out the irony of Tesla now own $1.5b of a energy intensive PoW crypto. + +Anyways deffo not boring in cryptoland and the saga continues 😂 +Just realized I could save quite a bit of money if I just skip dinner and fast intermittently. Skipping dinner will save me at least 1/3rd of my food expenses. Fasting intermittently - not eating the entire day for days together - will save even more. Assuming I ingest the requisite amounts of proteins and other nutrients, I don't think there are any downsides to not eating dinner every single day and fasting every now and then. Or are there? +In situations where the investor base refuses to sell it’s not only that the share price tends to go up because of that imbalance in supply and demand. + +It’s also that management is given the time and space to think and act with long-term objectives in mind, rather than feeling pressured to attain short-term profits over the long-term health of the company in order to appease flighty shareholders on quarterly reports. + +A similar situation to Berkshire Hathaway is unfolding before our very eyes with GME. That’s why I’m so Zen with this investment. With time we could see astronomical prices that have nothing to do with a short squeeze but rather with an ever expanding business with a relatively tiny number of shares outstanding supported by an entrenched investor base that simply refuses to sell. +My girlfriend found a house listed on Craigslist for $800/mo, 3 bedroom 2 bathroom 1,200 square foot house with a fireplace and big backyard. So she sends them an email and the guy replies later, saying that the realtor he was working with had screwed him over (somehow) and now he has taken the keys from them and he is gonna handle all of it himself. He said he was trying to sell the property but his job had him move to another state (California) and at this point he just wants someone to take care of the property for the 3 years that he will be gone. + +So, after some emails back and forth he sends us the applications which were basically written up himself on Word. What I found strange was that we did NOT provide any sort of personal identification aside from references/place of work/past rental history. So I assume there was no credit check. We send the applications back and he says they were approved and that he must handwrite the lease so it might take a few days to get it all typed up. + +So he's asking for $800/month, and $800 deposit. I've looked and the house is listed for sale on various realtor websites too. He encouraged us to go look at the house and look in the windows, look at the neighborhood, etc. He said once we sign the lease and pay that he will overnight the keys via FedEx and give us the receipt when he ships it out. + + +This is a very much "too good to be true" situation. He even mentioned all bills are paid except for trash. What can I do to assure myself that this isn't a scam? Should I call the realtor on the For sale sign outside the property? (He said the sign is still up only because he's out of the state). + +Is this a scam? + +Edit: I've searched the address online and his name does match the "online records" of being the owner. I've only communicates through email at this point. What's got me concerned also is that the Craigslist listing was flagged for removal when I asked my girlfriend about it.. +Maybe you have seen one of my comments on cross GME subs. + +&#x200B; + +Who I am ? I am French, IT expert on Fortune 500 company, I do work in English but not very fluent :). Some kind of autistic, social anxiety and can be focused on tasks until the job is not perfect to my POV. XXX holder, first GME buy on march 2021, depressed due to burnout since 2019 with high dosage medication ever since, it was a difficult couple years. I was wondering how I will be able to provide for my family (father of 2), interested by stock market. So GME came to my eyes. + +&#x200B; + +Discussed about GME to family and friends, some allow me to invest on there name, buy on eToro without any knowledge regarding stock trading. + +After some DD in April, I buy on another brokers Degiro and [Capital.com](https://Capital.com) in order to secure my position regarding MOASS coming. + +On August in open an IBRK account in order to use IEX. + +On September I transfer my Degiro position to IBRK, DRS my IBRK position to CS. Close Etoro shits and buy on IBRK. + +On October DRS my family and friends 1 positions for each. + +On January, I request 1 other DRS for the account without any letter received. + +&#x200B; + +As for now, I only have access to 3 CS accounts for 5 accounts requested. + +Never receive any letter for 2 accounts, 4 months later it is strange. + +&#x200B; + +I hardly recover from depression on 2021, with the help of doctors, Jesus, wife and daughters. + +&#x200B; + +Why the F\*\*K should I send comments on CS post ? + +If I send comments on almost every CS post, it's because I do believe in positive reinforcement, I want to share my support and my love to everyone, the DRS message have to be spread, every share DRSed count, we can't just stay on shity brokers and wait like we have did since a all year. 100% it's the only way. + +&#x200B; + +I do believe in Jesus and in Ryan Cohen. + +&#x200B; + +I love you all. + +&#x200B; + +If you don't like my comments on DRS post please ignore them. Mods let me know if I can support the newer apes (the ones who just received there letters) +One of the most fascinating aspects of satoshi nakamoto is that he has still never moved his coins. [It was once estimated](https://bitslog.com/2013/04/17/the-well-deserved-fortune-of-satoshi-nakamoto/) that his fortune is between 1M - 2M btc, most of which has still not been spent. The ultimate HODL. + +His known wallets & blocks have never moved. Which begs the questions! + +1. is satoshi still alive & simply watching his creation unfold, wisely knowing that moving those btc could cause a panic? + +2. are these private keys stored somewhere, or... were they deliberately destroyed? with great power comes great responsibility and all. + +3. what if he buried the private keys as a treasure and it's the legend of satoshi nakamoto's pirate private keys treasure hunt of the era +Hi, I am currently a 26 yo F with roughly $280k in student debt (private loans) at an interest of 3.7%. My parents (58 yo) are currently trying to buy a house and currently are trying to get approved for a $430k loan. The pandemic wiped out their jobs and they’ve been living off unemployment checks for the past year. My mom recently went back to work but she makes 20-30k a year. My dad still has his job but the industry may not recover post-pandemic. The bank raised concerns with my parents because their 2020 income does not look great. Pre-pandemic, their combined income was about $100k. + +So my parents approached me to co-sign on their loan. We do not live together, and we live in two different states (United States) so I wouldn’t even be living in this house. My initial thought was hell no, but now they are guilt tripping me into signing. I’ve thought about it, and this would be putting about $700k into my credit report, and I was hoping to buy a house of my own in the next 5-10 years too, so my whole situation is making my boyfriend anxious as well. My mom claims that the bank told them that me having $700k of debt on my credit report wouldn’t hinder me in the future but I disagree. Another red flag is, I’ve asked my parents to disclose their financial situation, like savings, etc but they just laughed at the suggestion and said I didn’t need to know. Ok. I know for sure they don’t have any retirement accounts but that’s all I know. They also wouldn’t tell me the specifics of the house loan they are trying to get which is fishy to me. They keep telling me they’re confident they won’t miss a payment, but they’re 58 now and assuming it’s a 30 year mortgage loan, am i really expecting them to make payments at 88? + +A little bit about me. I make around $120k a year (before taxes) but after paying taxes, student loans, and rent, I have maybe $500 left for groceries, gas, and my spending money a month. I live paycheck to paycheck but thankfully no car or credit card debt, just the student loans. I’m thinking I should tell my parents no and stand firm but I feel so guilty. Is there something I’m missing? + +Thank you for reading + +EDIT: Thank you everyone for your input. Every comment I read basically said to not sign it. I called my mom and told her i won’t be signing anything. She didn’t argue with me but insisted we revisit the situation in March but my answer will be the same and I know this is the correct decision. Thank you again everyone! +2017 = Crypto was overhyped for sure. People basically invested in an investment class/products that had no real world use case and even whitepapers (ie. words on a pdf + website) with the goal of making a quick buck. + +2018 = We've had a shit year in terms of $ value but lots of developments, partnerships, and some products/platforms coming to life. Yes we're still far off in terms of ease of use and actual use cases, but software development takes time. The last thing we need is a bunch of shit products that haven't gone through appropriate testing. + +2019 has me excited and is looking to be a big year. I can't comment on international institutions outside of North America but we're going to witness a war of institutions/banks (maybe a good idea to invest in popcorn). + +Cryptoccurency exchanges have made a shit ton of a money last year, obviously banks want in. We've got Bakkt and Fidelity launching in Q1 and ErisX (funded by Nasdaq, fidelity, TD Ameritrade , Virtu Financial, & CBOE) in Q2. We're talking institutions worth Billions/Trillions, who have clearly done their research and know there's value in the space. + +These new exchanges will 1) give legitimacy to crypto 2) Allow more retail investors to join in and 3) let institutions/institutional investors and semi-wealthy everyday/retail individuals join the party + +Regarding the semi-wealthy individuals - Imagine you make enough money not to worry about money, why would you invest in a non-regulated, gray area, volatile market? There's no point. Your financial life is fine, it's not worth the headache. + +Once one institution starts to make money via an exchange, obviously others will want to get their share of the pie. Institutions are going to be competing for customers, offering better services, lower fees, larger number of trading pairs, etc. + +Also, let's take in the fact that I mentioned only 3 exchange platforms, which are going to be run in North America. I know nothing of international banks getting into the space, but it's a matter of time. + +Why someone would sell or claim "Cryptocurrency is dead" is beyond me. Relax, let 2019 come. This month is limbo, it's a forced vacation from the cryptosphere. I'm not expecting a boom over night, but at least by Q3 2019, we should be in a much better $ value position. +You cannot escape basic finance. Crypto is NO DIFFERENT to everyday finance, here is why. + +You cannot have a system where savings are higher than lending rates. You cannot have high APR’s without inflation in the token supply. + +High APR’s just mean infinite money printing, and high inflation in the token supply … AKA… your tokens value will tank. + +HIGH APY PROJECTS WILL NOT MAKE YOU RICH. + +.. +20% apy .. unsustainable. 300% apy definitely unsustainable. + +After the fall of Anchor , Celsius, Ohm and other defi projects , it should be clear to you all that they can’t sustain those high rates otherwise the project risks going bankrupt and failing. +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. +Now that I was forced to semi-retire and move to a rural community in the Eastern Shore of MD, I run into a lot of retired people. + +I had an interesting discussion with a group of retired folks about so-called early retirement. Many of them retired before they were 65 years old and got lots of raised eyebrows (pushback) from their family, friends, and neighbors. The general conscious of the group, is if you retire from full-time work before age 65 MANY PEOPLE will say that you are either lazy, crazy, a freeloader, or suspect you are living on the government dole. + +I am especially interested in hearing from people who retired from full-time work before age 60. Did you get pushback or general negative vibes from people? + +(Don't tell us you don't care what other people think about your early retirement, that may be true but not valuable to this question and discussion.) +There have been posts about the Chase and Bank of America accounts closed for Bitcoin related activities and ties with Bitstamp or Coinbase. + +The underlying speculation is that senior bank management sat in a board room and said "Hmm, this Bitcoin thing is a threat, instruct the minions to squash it." Similar to the speculation about Apple and Bitcoin related apps. + +The truth is that this is very unlikely. The CEOs and other Senior management at banks don't care much about Bitcoin and don't spend much time thinking of it. + +These account closings are due to need for compliance with the BSA- Banking Secrecy Act. The BSA is the latest flavor of the day for regulators. Regulators typically focus on one thing for a while, shake down the major players for fines and fees, the industry changes policies and then the regulators move on to something else. + +Market timing, after hours trading, viatacles, senior citizen marketing, derivatives, structured bond products, Patriot Act compliance, AML, soft dollar arrangements etc etc..... it goes through cycles. + +Right now BSA is on the radar of the regulators....Chase is facing the brunt of the enforcement, they've had fines levied and are closing MANY accounts, not just Bitcoin. B of A is following suit because they know they have a target on their back. + +So no.....this isn't an effort by banking management against Bitcoin. + +Even in the unlikely event that bank CEOs think it's the "next big thing" it's still too small to be on their radar....there is no acquisition or move which would "move the needle" for the multi-billion dollar banks. If it does take off they feel they will have plenty of time and capital to make meaningful aquisitions and moves into the space once there are billion dollar in revenue Bitcoin related businesses. + +So no, the big banks are not plotting to destroy Bitcoin....they honestly don't care about Bitcoin. These people have business unit heads, country and regional heads and others reporting to them who have people in turn reporting to them who have hundreds of product lines....all of which are larger than the value of all Bitcoin on planet earth. + +A banking CEO is meeting his board, his major investors, doing media appearances....getting reports from the head of international, legal etc etc. "We have $23 billion at risk due to instability in Ukraine." "This $45 billion joint venture in China will help us crack hundreds of billions in retail accounts." "The SEC just fined us $1 billion." "We will earn a $1.5 billion fee for the investment banking work we just did on Facebook's acquisition" "This Sovreign Wealth Fund just made a $1.5 billion commitment to our hedge fund unit" "We think that long term, Africa is a growing market and recommend investing $20 billion into aquisitions". "The EU is slowing down, we need to do 20,000 layoffs". etc. + +No where in these conversations is an executive coming to a bank CEO saying "This thing called Bitcoin is worth $7 billion and is someday going to be a threat to is, let's squash it." + +Same goes for Apple -- they closed the apps, likely not due to competitive reasons but due to fear of regulators. + +Are people aware that Apple faces so much regulation that they have ON SITE US government regulators and enforcement personnel from the DOJ and others who report for work AT APPLE HEADQUARTERS full time, every day? Apple literally has teams of people who deal with government regulators all day. The fear of the apps is likely that the DOJ or any of 50 other government regulators decides that Apple is violating some rule by allowing apps and goes after them. + +The regulators don't even really care if a violation was made or what the intent of the company was....they know that an Apple sized company will almost always settle when faced with a lawsuit saying "Apple charged by DOJ for aiding and abetting money launderers" -- the regulators get another $50 million or so in fees and a headline and a justification of their existence. Apples other option is to fight it....spending valuable time and $100 million in legal fees against an enemy with an unlimited taxpayer-funded budget. + +For Chase and Bank of America the stakes are 100 fold larger as are the compliance efforts and fees. + +Major businesses are completely governed by compliance fears and crippled by the red tape and legal concerns surrounding them. + +This is the reality of the situation. + + +Please utilize this sticky thread for all general **Bitcoin** discussions! If you see posts on the front page or /r/Bitcoin/new which are better suited for this daily discussion thread, please help out by directing the OP to this thread instead. Thank you! + +If you don't get an answer to your question, you can try phrasing it differently or commenting again tomorrow. + +[Join us in the r/Bitcoin Chatroom!](https://discord.gg/qE3rWBRNqh) + +Please check the [previous discussion thread](https://www.reddit.com/r/Bitcoin/comments/nf1rw9/daily_discussion_may_18_2021/) for unanswered questions. +After Three Stimulus Packages, Congress Already Prepping No. 4 https://www.wsj.com/articles/after-three-coronavirus-stimulus-packages-congress-is-already-prepping-phase-four-11585483203 +Coinbase is laying off almost a fifth of its workforce amid a collapse in its stock and crypto prices. The cryptocurrency exchange will cut 18% of full-time jobs, according to an email sent to employees Tuesday morning. Coinbase has roughly 5,000 full-time workers, translating to a headcount reduction of around 1,100 people. CEO Brian Armstrong pointed to a possible recession, and a need to manage Coinbase’s burn rate and increase efficiency. He also said the company grew “too quickly” during a bull market. “We appear to be entering a recession after a 10+ year economic boom. A recession could lead to another crypto winter, and could last for an extended period,” Armstrong said, adding that past crypto winters have resulted in a significant decline in trading activity. “While it’s hard to predict the economy or the markets, we always plan for the worst so we can operate the business through any environment.” + +Coinbase had initially said it was pausing hiring. Two weeks later, the crypto giant announced that it was extending the freeze for the “foreseeable future.” Earlier this year, Coinbase said it planned to add 2,000 jobs across product, engineering and design. “Our employee costs are too high to effectively manage this uncertain market,” Armstrong said. “While we tried our best to get this just right, in this case it is now clear to me that we over-hired.” The news comes during a deep rout for Coinbase shares. The stock went public via a direct listing last April during a boom in crypto markets and investors clamoring for high-growth tech stocks. Coinbase’s stock is down 79% this year and 85% from the all-time high. Meanwhile, bitcoin has dropped to near $22,000 and has lost 53% of its value this year. San Francisco-based Coinbase reported a slump in users in its last quarter and a 27% decline in revenue from a year ago. The company makes the majority of its top line from transaction fees, which are closely tied to trading activity. President and chief operating officer Emilie Choi called it a “very difficult decision for Coinbase” but given the economic backdrop,” she said it “felt like the most prudent thing to do right now.” + +Affected employees received a notification from HR. If so, the memo was sent to a personal email as Coinbase cut off access to the company systems. Armstrong called it the “only practical choice” given the number of employees with access to customer information, and a way to “ensure not even a single person made a rash decision that harmed the business or themselves.” Coinbase employees will have access to a talent hub to find new jobs in the industry, including Coinbase Ventures’ portfolio companies. Choi said they would still be “doubling down” on areas like security and compliance and may be “reorienting” employees to near-term revenue drivers. + +Coinbase joins dozens of other tech and crypto companies slamming the brakes on hiring. Crypto lender BlockFi said it was cutting 20% of its employees on Monday. Open-source tracker Layoffs.fyi estimates that more than 5,500 start-up and tech jobs have been cut in June alone. Coinbase’s intention is “that this is a one time event,” Choi said adding that the company has $6 billion of cash on the balance sheet. The company has lived through multiple bear markets in crypto before, also known as “crypto winters.” “We will power through any macro environment, any crypto winter, or anything that’s coming,” she said. “The reality though, is that we have to adjust when we feel that there’s a very dynamic economic environment in play.” + +https://www.cnbc.com/2022/06/14/coinbase-lays-off-18percent-as-execs-prepare-for-recession-crypto-winter.html +For the 6 months or so I’ve been a member of this sub I have seen many suggestions to check out a compound interest calculator and have only just got around to doing it, and wow. + +I am thinking of putting £25k into a Vanguard Global All Cap and topping it up with £500 a month. +If I can assume an average interest rate of 10% then the results are astounding. + +After 10 years I’d have contributed a total of £85k and the total pot size would be £170k, effectively doubling my money. + +After 20 years, I’d have put in £145k and the pot size would be a staggering £566k. + +Just thought I’d share in case anyone else has dragged their heels on this like I did. Obviously 10% annual return is not guaranteed but past performance would suggest this is not a bad assumption, so a lot of food for thought! +The thermostatic cartridge in our shower is broken. I was recommended a plumber by a neighbour. He wasn’t able to do the job, so recommended someone else. They came out yesterday, diagnosed the problem, ordered the cartridge, then gave me the quote - £370, based on £190 for the cartridge and £180 labour costs. + +I asked for a receipt for the cartridge which I was told I’d receive (I haven’t yet) and whether the labour costs were negotiable. I was told that that the £180 was based on time spent on the job, which included diagnosis (around 30 minutes) going to the shop and ordering the part (time unknown) and installation (30 minutes) + +I’ve spoken to another couple of plumbers whose hourly rates are around £65 (we’re based in London zone 1) so significantly cheaper. Do I just pay the £370 knowing I’m probably being ripped off or hold out for a better price? +https://m.youtube.com/watch?v=80DMYz40lis + +Hey guys I just made an animated version of the book “One Up On Wall Street” by Peter Lynch! This is my favorite investing book! I hope you all get something out of it!! +With all due respect, the post contained very little logical counterpoints or proper explanation to the sudden extraordinary claims. I believe there was no ill intention, but everything was worded poorly. Probably will be pounded for this and have to delete this later, but fuck it, here goes: + +Coming from someone who always preach "logic" over "emotion", the entire post is so illogical that one can barely start to dissect it. Let's pick a random paragraph for example. + +>Again I don't question the DD at all, I do however think people here need to take a good hard look at their risk/reward system and at reasonable numbers, I personally don't think 10m is something that can happen, again I could be a 100% wrong and if it does hell I'll be just as excited as everyone else, I just think the chance of happening is low to none. + +All DDs point towards the fact that GME reaching 1 million will not be an anomaly. By "not questioning the DDs", it is clear GME will reach the heavens, **as long as people believe it will**. The above statement is merely pandering to the readers, while adding a vague disagreement with no facts to support it. + +Indeed, there are two ways GME will not reach the millions. + +1. Everybody believe that it has peaked while it is in the thousands, and start selling. +2. Yes, government intervention. + +Scenario 1 depends on everyone holding, yes. It will only go as high as what people believe. It can easily go to the millions, or not. It depends on everyone's mindset. The only way to stop it, **is by selling**. This is a fact, because it is how a short squeeze works. Therefore, it makes no sense to spread doubt at this stage, at the peak of the hype, when reaching millions rely on people's confidence. + +At this point, its merely choosing to go with the bang that will shock the world, or a little spark that will merely draw a little attention, and left forgotten forever. + +Scenario 2 is a ludicrous point, and here's why. Reaching 1 million dollars, is less of an anomaly than the government shutting down trading. The **government stopping the rocket is the real anomaly here**. Here's an analogy: it's like a soldier abandoning the battle because he fears a meteor will hit the battlefield. + +In this case fortunately, there will be lower risks involved because if the government decide to shut down trading, you will most likely just get to sell your shares at the current market price (at that time) instead of the millions. Therefore, it makes no sense to sell earlier before the government shut down trading either way. If government really intends to shut down trading, we can simply ride into it and worry about it later. Nothing to lose here. + +**To conclude this**, I believe Ryan Cohen tweeting a picture taken off reddit is not an anomaly. He is letting us know he is watching. He has seen the DDs. DFV's "cryptic" tweets may or may not be any sort of hints. All you need to know is GameStop stands behind its shareholders, and probably wants this to happen. Take from it as you will. + +Remember it will go as high as high as you want to believe. My opinion is there is no point jumping off a once in a lifetime of a universe rocket unless it has reached an absurd amount anyway, so might as well ride it with an open mind. Either it goes bang outta the galaxy, or well, life fucking continues (sad music). + +Edit 1: Just thought about this. Actually, Rensole's post is actually reasonable from his perspective. With so many people expecting it to reach millions, he must be fearful that if it didn't, some people might direct their anger at him, therefore he is trying to dislodge the millions viewpoint that might be "anchored" to him, so to speak. This is just speculations of course, I can't possibly know what he is thinking. + +As this post seem to be gaining some unexpected traction (thanks for not bashing me!), I wish to expand on DFV's tweets a bit. He may or may not know insider information (let's not jump to conspiracies here), but either way, I believe he saw the statistics and calculated the outcome. The reason he took his time off to come up with all the tweets to encourage us, is because he believes in the community! We can really take off if we hold. This is not teamwork, but a common belief. And if DFV believes in us, and still stick around the subreddits, we should have some trust too. + +Edit 2: Its feels lonely without the kitty 😔. If anyone is reading this, here's an [old tweet](https://twitter.com/TheRoaringKitty/status/1376565378600603654) from him while waiting for nothing to happen. + +Edit 3: Rensole has made an update. I will keep this up as I am not bashing the player, I am questioning the content. It is always good to be skeptical and find new answers. While "tempering expectation" may be a good point, I will go with the high expectation hype as there's nothing to lose (stock is not going to nil) and everything to gain (crashing wall st). +I've been trying to figure out what to do for over a year and I could really do with some advice (I am shockingly bad with money and have an anxiety disorder. ) + +So background. + +30yrs old. Single. Current salary is 19k. Although with overtime and night shifts, it's more like 23k. + +Car is a September 2016 Polo with 26,000 miles. I've had it since May 2017, it was an ex-demo with 5k on the clock. +It's on a 4 year PCP with monthly payments of £187 and about 10% APR (I can't find my paperwork) + +I'm pretty sure the final purchase option is £4,500. (Again, can't find the paperwork, I will be ringing the finance company later today to check) + +I also have a personal loan due to clearing down overdrafts, credit cards and vets bills. + +So personal loan still had 2 grand left to pay and it's £116 per month, 14.89% APR and final repayment date is April 2022. Loan is with Santander which my current account is also with. + +Current essential bills including car, loan, rent etc come to £950pcm. My basic take home pay is £1250 per month but recently, as I've only been working nights, it's been around £1600. However, I can't guarantee that because it depends on who is doing the off-duty. I can usually be sure of at least £1400. + +I don't know what to do about my car. + +I hate monthly payments and I want to be debt free so badly. + +So I could just walk away from the car in May and try to scrape together enough money to buy an old banger. But then that could come with a whole host of problems and I could end up spending more keeping it on the road. + +My family think I should get a newer car on PCP because then I won't have to worry about repairs and maintenance etc. + +My dealership said I could contact the financing department and ask to do a hire purchase on the final payment. It would be at the same APR I'm currently on. + +Or I see if I can get a personal loan of £6500 with an APR of less than 10% to purchase the car and clear current loan as well. +I think I have a good chance of getting less than 10% APR as my credit rating has improved loads since I took out the loan 3 years ago and my salary back then was under 15k. + + +I think that the personal loan is the most sensible option, but it terrifies me. In 2018 I was made redundant and it was horrific enough even though I was still living at home. Now that I've moved out and have my own place, the thought of having a loan for another 3-5 years makes me feel sick. The likelihood of me losing this job is very slim (NHS) but it could happen. +At least with the hire purchase, I know I can hand the car back in and just walk away. + +The other thing is, I don't know if 4.5 grand for a 5 year old Polo is a good deal. The pros are that it will probably only have about 30k mileage and I've had it pretty much from new so I know exactly how it's been maintained and as far as I'm aware there are no issues with it (it's having its MOT today) + +So I could get the personal loan but buy a cheaper car. Pros, the loan will be less (I know about taking out larger loans for the smaller APR and then paying back a large chunk immediately) but the cons are the upkeep costs. + +I really have no idea what to do. Please help? And thanks for reading, you're awesome. +For background, I am a middle aged total novice when it comes to finance and budgeting. Grew up very poor, but working hard to break that generational curse and set better examples for my kids. + +That said, we just got back from our first family vacation. It was a total splurge, 1 week at Disney World. I did lots of planning to save money everywhere I could, but I ended up having to pull from savings and over utilize my credit cards to make the trip work. I estimate we'll recover completely in a few months, but it wasn't a comfortable choice. + +Are there any rules of thumb or guidelines for budgeting/planning family vacations? + +I thought the bulk of the trip was covered when I bought the park tickets and hotel stay. But on top of that, we had to rent a car, there were deposits I didn't know about until the trip ($200 at the hotel, $200 at the rental car agency), the 10-seater rental I reserved on a good deal apparently only had 2 seats and cargo space, so changing the rental costed an extra $400 for the week, we had to buy quite a bit before the trip (at least $400 on clothes, swim suits, beach towels, sun screen etc)... You get the point. I feel like I planned and planned and planned and still got bombarded with unexpected expenses. + +So I guess what I'm asking is what are good guidelines for planning a vacation today stats within an expected budget? If I have $3000 saved for vacation, what percentage should I budget for a hotel, for activities, food, transportation etc? +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. +So I'm constantly hearing stories about how shockingly bad most pension pots are. I earn slightly above the median wage in the UK, contribute 7% pre-tax (employee matched to 7%), and mine isn't exactly looking fantastic; what about many of us who are on minimum wage, work part time, or don't bother investing in retirement? + +What actually happens to people without adequate pensions? Do they keep working, or instead manage to retire and survive with basic amenities? And is there a hidden 'underclass' of retirees who have no money? +E-Toro listened to us back then because of the pressure we bestowed upon them that we want to vote our shares. Why shouldn't we try our luck again and do the same with DRS? Continuously asking them that we want to DRS our shares opens a possibility that they will let us. As long as we don't ask for it nothing will change, and the more of us ask, the bigger the topic gets for them. +Hi guys, economic student ape here. I have been lurking for a long time but wanted to share the single wrinkle in my brain of economic reasoning of why I became an ape. Disclaimer: This is not financial advice. + +It all comes down to the simple theory of expected utility. Here is an example. Say you flip a coin. You get 10 dollars if you guess right, but it costs you 3 dollars to play. The odds of the coin landing on the side you chose is 50/50. Therefore, the expected utility or value of playing the game is ½ x $10 = $5. Because $5 > $3, you should play the game, as buying a chance to play the game is cheaper than the expected value of the game. Simple concept right. + +The same logic can be applied to GameStop. At this point, I want to say I am a Euro ape and am too lazy to convert all the prices to USD, so all the prices here will be in Euros. Shares are trading at €138 currently. Here are a few scenarios: + +If the price floor is €1k, then the odds could be as low as 15% of the MOASS happening and the expected utility of buying GME would still be €150. €150 > €138 (it is rational to buy the stock). + +If the price floor is €1M, then the odds could be as low as 0.015% of the MOASS happening and the expected utility of buying GME would still be €150. €150 > €138 (it is rational to buy the stock). + +If the price floor is €10M, then the odds could be as low as 0.0015% of the MOASS happening and the expected utility of buying GME would still be €150. €150 > €138 (it is rational to buy the stock). + +You get the point. + +In all of these scenarios, the expected utility is higher than the share price of GME. In other words, if you believe that for any of the above scenarios either the price floor or the probability of the MOASS happening are larger than stated, then you would be a rational consumer when purchasing the stonk. + +The difficulty here is predicting the probability of the MOASS and its value. + +As a bonus. The value of the of the German lottery: Spiel 6 aus 49 is €5M. The odds of winning are 1:140M. So, the expected value is 0.04 rounded up to the nearest cent. The cost of one ticket is €2. Should you play this game? Economics says no. Why should you pay €2, when the expected pay is 4 cents? Yet, buying a lottery ticket is completely normal. If you buy one, no one will judge you. In fact, millions of people buy lottery tickets regularly. + +And the kicker is, a lottery ticket turns into a worthless piece of paper after you play and lose. If, and I say if, GME never goes into rocket mode, then a GME stock purchase is far from worthless. It is still a piece of equity that has a bright outlook given the publicity of- and positive internal changes at GameStop. + +For example, imagine the price drops back down to €40 (which in my opinion is highly unlikely). Then going back to the middle scenario with a price floor of €1M, the probability of the MOASS would have to be equal to 0.00009% for the expected value to equal the price of the stock. + +In short, don’t listen to anyone that says that your purchase is irrational. Apes may be whack in their own special ways, but apes are making rational purchases. + +Finals words. I like the stock and will continue to buy the ~~peaks~~ dips (jk, I'm already all-in) and HODL with my diamond hands. + +Edit: Changed $ to €. +Launched on April 28th, and within 3 weeks SAFERmoon already became the first token on BSC to give its holders both reflection and staking rewards without the usual reflection fees. + +Market cap is $6 Million. +Listed on CoinGecko and CoinMarketCap. +Contract is audited and all liquidity is locked for your security. + +On August 10th the team is giving away during 6 weeks, some major prizes to its token holders. +On the 4th week will be a Tesla, 5th week a Lambo and on the 6th week a trip to space (most likely aboard Virgin Galactic). +SAFERmoon has integrated with Chainlink’s Verifiable Random Function (VRF) on the Binance Smart Chain. By integrating Chainlink’s industry-leading decentralized oracle network, it now has access to a tamper-proof and auditable source of randomness needed to select winners for the #SAFERsummer giveaway. +Ultimately, this integration ensures that SAFERmoon investors can enjoy the festivities with the guarantee that the prize-selection process will be transparent and fraud-proof. + +The SAFERmoon team is focused on security. In particular, the future launchpad (coming Q3, testnet went live and was successful) is designed to allow a project owner with any level of technical expertise to create new tokens that cannot be exploited by the creator. +Prospective investors will browse and track a selection of audited tokens, receiving alerts as soon as any project owner initiates a change in the contract that might affect their investment. + + +Important Info : +Verified Contract: 0xA656F993bD14B2B59a28d1e610476AD18849b107 + +Pancakeswap (Use V2, Slippage 12%): +https://pancakeswap.finance/swap#/swap?outputCurrency=0xA656F993bD14B2B59a28d1e610476AD18849b107 + +LP Locked: +https://bscscan.com/token/0xbb4cdb9cbd36b01bd1cbaebf2de08d9173bc095c?a=0x38b5CC18a8AB19D87Cd8248a9155DFd442cA321C +So many of you might have heard of Statera. It caught my eyes because the idea of a crypto index fund is virtually unheard of yet in the crypto space. Add to that the deflationary aspect which is a new paradigm for deflationary tokens use-cases. + +I’ve been observing the Balancer AI do its work and it seems like people have high hopes of this project. The Balancer AI liquidity pool continues to grow ($180k) now even while price is dipping. + +And the conventional idea that you have to cash out at the top doesn’t apply so much to this token, because you can just leave it into the index pool and have your losses spread across 5 different tokens. Hence making dumps less painful. E.g. if you place $1000 into the index fund > $200 each across 5 tokens, even if STA drops by 50% you only lose $100 as opposed to $500. So I think it really makes whales less likely to cashing out. + +Not to mention that when you add to the index fund you are giving the Balancer AI more power, which in turn helps to support mass dips in the token’s value during corrections. + +The burning is also working as intended, especially during mass panic sell-offs. Yesterday alone we’ve seen ~400k tokens burned. + +All in all I really think this is a simple yet really beautiful financial instrument. And not to mention the first-mover advantage that this index fund has. (A larger and stronger liquidity pool as compared to other copycat index funds that might appear in the future) + +As the developer and team only holds less than 3% of the tokens, this project is essentially now a community-run project. Decentralisation and fair distribution is essentially what cryptocurrencies should be rather than teams holding 90% of tokens waiting to dump on you at the very top. + +Of course this project is really new and it’s Super volatile at this stage, as all new projects are. But if this project really takes off this would be the first of its kind crypto project. It is essentially a bet on the golden bull run that everyone expects the crypto market to have in the near term. + +If BTC, ETH, SNX and LINK moons, which is very likely, the token’s value will get pulled up along with it due to the AI rebalancing the 20% weightage across the 5 tokens. And along with the inbuilt deflationary aspect, it’s really quite interesting to see how this all turns out in the near term. + +This would also be a great project to sell to the mainstream when they flood in eventually. Essentially an index fund for the crypto markets. I imagine the boomers would like that. Thankfully enough the pool holds only 5 tokens and they are IMO really great tokens with lots of potential. + +Do check it out and let me know what you guys think. + +Website: https://stateratoken.com/ +Instagram: https://www.instagram.com/stateratoken/ +Twitter: https://twitter.com/StateraProject +Medium: https://medium.com/@stateraproject/ +https://t.me/stateratoken +https://t.me/stateraunofficialpricegroup +https://t.me/stateraannouncement +Congrats to those who got into OPCT. In last few days, it has been seeing the value it deserves. + +More to come. + +The marketcap is still extremely low : 7million + +The team is solid and will deliver even more. + +Enjoy the ride. +Congrats to those who got into OPCT. In last few days, it has been seeing the value it deserves. + +More to come. + +The marketcap is still extremely low : 7million + +The team is solid and will deliver even more. + +Enjoy the ride. +Would you like to purchase your moon tickets before the rocket ship takes off? Look no further. You're still early. + +How about joining a community whose leader is responsive to criticisms and requests in a timely manner and sleeps at his desk like Elon Musk? Our community leader JohnnyLaw is our Chad. By the way he is also fully doxxed and does live streams on Youtube. Here is his Linkedin Profile: [https://www.linkedin.com/mwlite/in/jon-wier-14416767](https://www.linkedin.com/mwlite/in/jon-wier-14416767) + +Just a few days ago some criticisms were leveled at a poorly designed website. In a matter of days our community whipped up a super beautiful website. That's just one concrete example. + +The RYI Unity Community is about to explode! We quite literally are in charge of our destiny in this project. We've gained 400+ members on our telegram in less than 1 week. There is a reason behind this surge in numbers. We have ambitious plans, and it all starts now! + +A concrete example of our progress in 1 week's time? Our friction-less yield token $RYI (ReadCommentInContractCode) was comfortably resting at a slumbering $0.0015. Today 1 week later we hit an ATH of $0.038. That's nearly 30x for a token that's only been out only 1 month. Edit as I was writing this, the price of $RYI decided to say not today Satan. It just popped up to .040 fyi. No big thing. Not kidding this just happened as I was typing. + +It doesn't stop there. Last week we also introduced a new token to our DEFI ecosystem: $RYIP. RYI Platinum will combine Staking & Farming services, as well as Lending/Borrowing services (soon), together with our own DEX called Unity Dex. We are right now voting on adding our own $WISE-type protocol as an airdrop for $RYI/RYIP holders, which will in addition yield ETH as a reward. The MC on RYIP is sitting at a early bird special low of 140,000. If you know about low marketcaps that means a 10x or possibly even higher is easy, and as this is our governance token and has a lower total supply than RYI it's not unreasonable for it's trajectory to have a very bright future. + +Our UnityMobile social messaging app w/ P2P crypto compatibility is now ahead of Schedule and will be ready soon. + +I think this is plenty of information for informed investors to do their own due diligence. Please visit us at our telegram and bring all your questions, doubts, etc.. We have cookies. Thanks for your time. + +P.S. As I was finishing the post $RYI decided to ATH to 0.05. Guys the timing on this post couldn't be any better. We are still early. That's marketcap of 470,000. And if it dips, you may get a better entry. Also the RYI/RYIP liquidities are locked and their contracts have been audited by Nightwatch on the 17th of January of this year. + +Feel free to join the telegram if you have questions. + +Website: [https://ryi-unity.com](https://ryi-unity.com) + +Telegram - [https://t.me/RYItoken](https://t.me/RYItoken) + +Dextools RYI - [https://www.dextools.io/app/uniswap/pair-explorer/0x46de441038147434e58963319baae96f0a75bd6f](https://www.dextools.io/app/uniswap/pair-explorer/0x46de441038147434e58963319baae96f0a75bd6f) + +Dextools RYIP - [https://www.dextools.io/app/uniswap/pair-explorer/0x22bf0cf29250bd77ecb22251032c9d0c26ee7517](https://www.dextools.io/app/uniswap/pair-explorer/0x22bf0cf29250bd77ecb22251032c9d0c26ee7517) + +Our Coingecko and CMC Applications have been submitted and we expect to be listed soon. +Hi y’all, I am a 23y/o male who just spent 6 months in a rehabilitation facility for mental health. I just graduated my program and things were finally starting to look up for me after spending half a year homeless and in and out of the psych ward struggling from what I now know is schizophrenia. I am back in college finishing my degree and just started working again and tonight I was helping a friend drive her car back from Florida and I hit a blow out tire and skidded into the guard rail scratching the side of her car as well as a piece of the bumper. It still drives but after all the time I spent homeless I was taken off of my auto insurance policy and realized tonight after this happened that I am not covered. + I want to do what is right and we are bringing the car in tomorrow to see about repairs but I don’t have much money and I don’t know how I can even go about paying for this because I don’t even have a credit card. What should I do? I am stuck and alone and I’m trying to hold myself together but I don’t have family to even support me financially because I lost contact after being homeless and paranoid for too long. I am really sad right now and I just want to do what is right. I feel like this situation is going to lead back to a difficult headspace and I am really worried that I will be broken financially and have to live homeless again until I can recover financially because I can’t even afford my sublease for another month after a huge repair bill. + Any advice would be so greatly appreciated, I can’t even stop crying because she is about my only friend right now that has offered a lot of support to me in tough times and I feel like I am on the verge of damaging this last friendship for good and I know I can survive homeless for as long as I need but all this hard work rehabilitating myself feels like it is going to have to restart and I’m just so scared. +I want to spend the next couple of months learning the fundamentals and terminology of investing. + +For example, if I scour the articles that turn up when searching "ETF", would be knowledge I gain be sufficient for me to get a base understanding of ETF characteristics? Like the first hit for "ETF" search if this 11 part tutorial: http://www.investopedia.com/university/exchange-traded-fund/ + +Are there BETTER sites that serve the same purpose I should spend my time reading instead? + +[Just noticed it while I was responding to a comment](https://jochen-hoenicke.de/queue/#30d). Fees are down to 50 satoshis per byte and we're maintaining a drop over three days (most likely because of the new year). The last time we were this low was December 11th. Let's try to keep it going, guys! +I have an interview with a place that takes school photos tomorrow. I know that doesn’t sound like much but i’m really hoping it goes well. I’m tired of retail and fast food. This will allow me to learn some skills and do something half way creative even if it’s just taking photos for yearbooks. Wish me luck !!! Also any interview tips/advice will be appreciated! +...it’s that crypto is still FAR from being mainstream. + +Since splitting from my ex I’ve jumped on the online dating bandwagon and had lots and lots of conversations with women from all walks of life; professional women that work in the city to single mums to hairdressers to teachers etc. + +One thing that struck me was that hardly any of them had even heard the term cryptocurrency, let alone know what it is. + +If they’ve never heard of cryptocurrency then I mention Bitcoin and I’d say probably 50% then go “oh yeah I’ve heard of bitcoin” but many still don’t know what it is. + +I went on a date last night with a girl who works for a major bank. She works in risk, but previously worked in fraud. I mention cryptocurrency...nothing. Blank stare. I mention Bitcoin, and her response was “oh I’ve heard of that, it’s bad isn’t it? Used for lots of money laundering.”. Or something to that effect. + +She works in a major global bank, and doesn’t have a clue about any of this. The only thing she knows is that it’s ‘bad’. + +I just thought it was worth sharing because sometimes we can get caught up in this world and not realise just how early we are. If anything it makes me more bullish, because once the world wakes up, things will start to get really interesting! + +UPDATE... + +Getting a lot of replies along the lines of “normal people don’t need to know about crypto for it to be mainstream. People don’t need to understand underlying technologies in order to use things.” + +I think most of you are missing my point. I never said people need to understand blockchains or smart contracts. I never even said they need to understand how cryptocurrency works at all. My point is, most people still haven’t even heard of the term, let alone understand it. + +I wouldn’t expect most people to understand how WiFi works, but I would expect them to know that it allows them to access an internet connection, or that it’s ‘wireless internet’. + +Therefore my point is, that if people have only just heard of Bitcoin (and still think it’s just used for money laundering) we’re a LONG way from cryptocurrencies being in daily use, whether that’s as currencies used for day to day transactions or as a major asset class that the average joe invests in just like they might do with stocks and shares or bonds. + +I wouldn’t expect many people to be able to explain in depth how the stock market works, or what the FTSE 100 is, but I can bet you they’ve heard of it and have a very basic understanding of what it is. + +UPDATE 2 + +Some of you are assuming that I’m not getting laid or I’m unsuccessful in dating because I just talk about crypto. Both are false assumptions. Let me just say that there is more to dating than just getting laid, and some girls actually enjoy intelligent conversation. /s +So, I received an invite to trial Coinbase One for one month recently. + +I did a search on the sub, and apparently literally *nobody* actually read the User Agreement. Posts of people liking the false sense of security of a non-existant "account protection" policy up to 1 million dollars, no trading fees, etc. We'll get into all that, don't worry. + +I'll be breaking down the three main points they're selling with this subscription in their advertisement of this "service", in the order they are being presented, while quoting relevant terms directly from: https://www.coinbase.com/legal/user_agreement/united_states/ + +#1) Zero trading fees - Unlock your portfolio’s potential and trade as much and as often as you want with $0 in trading fees. +Nobody likes fees. What's the fine print say? + +>**Section 5: Coinbase One** + +>**1. Coinbase One Subcription.** Eligible Users may sign up for Coinbase One which is an automatically renewing subscription requiring recurring payments. A Coinbase One subscription grants you the benefits of: (a) a waiver of Coinbase fees for buying, selling, and converting digital currencies on the Coinbase platform (which does not include Coinbase Pro’s order matching platform), provided that a spread in the price is still included in all buys, sells, and conversion of digital currencies on the Coinbase trading platform ... + +You read that right? Market buys on Coinbase only. No Coinbase Pro. Market buys only on regular Coinbase. That spread might as well be considered a fee. Things get uglier, just wait. + +#2) $1M account protection - Members may be eligible to receive reimbursement for up to $1M in losses caused by unauthorized access. + +This is the deceit that I felt needed brought to the forefront the most, as soon as possible. $1M in account protection could sound nice, especially these days with all the phishing, viruses, keyloggers, you name it flying around. Let's have a closer look at those terms. + +>**Section 5: Coinbase One** + +>... and (c) Coinbase Account Protection as detailed in paragraph 3 below. Coinbase may modify or suspend this program at any time upon notice. + +Well that's not a great start, but let's keep digging. + +>**Section 3: Coinbase Account Protection** + +>**Coinbase Account Protection.** With an active Coinbase One subscription, you may be eligible to receive a one-time reimbursement for up to $1,000,000 (U.S. Dollars) of actual losses (or the U.S. Dollar equivalent thereof, in the case such losses were in the form of Digital Currency) that you sustain due to a compromise of your Coinbase Account login credentials resulting from a vulnerability or other deficiency in Coinbase’s systems and/or security protocols (the “Coinbase Account Protection”). The Coinbase Account Protection is subject to the terms and conditions set forth in this [Paragraph 3] (the “Coinbase Account Protection Warranty Terms”), which apply in addition to the terms of the Agreement and any other terms and policies set forth on the Coinbase Site. + +>**3.1.4.** 2-factor authentication with either an authenticator application (e.g., Duo or Google Authenticator), security key (e.g., Yubikey) or push notification through the Coinbase mobile application must have been enabled on your Coinbase Account at the time you sustained the Reimbursable Losses. 2-factor authentication via SMS is not sufficient to be eligible for coverage under the Coinbase Account Protection. + +That seems reasonable, SMS protection is very weak compared to TOTP MFA, a security key, or a security app's push notifications. + +But now let's get into the ugly and why this account protection isn't really any protection at all. + +>**3.2. What is Not Covered.** + +>**3.2.1**. The Coinbase Account Protection does not cover reimbursement for any loss of funds held outside of your Coinbase Account, including without limitation in Coinbase Custody, Coinbase Wallet, or non-custodial wallets connected to Coinbase Commerce. + +>... + +>**3.2.4.** The Coinbase Account Protection does not cover reimbursement for any losses that were the result of a security vulnerability or other technical deficiency in your computer, mobile device or security key. + +>**3.2.5.** The Coinbase Account Protection does not cover reimbursement for any losses that were the result of an event or action that you were aware could result in compromise of your account security, if you failed to promptly notify Coinbase of such occurrence in accordance with Section 6.2 (Security Breach) of the Agreement. Examples of such occurrences include, without limitation, if you lose your security key or API key, if you grant a third party remote access to your account, or if you provide your Coinbase Account login credentials and/or 2-factor authentication codes to a third party. + +>**3.4. Other Terms.** In the event of a conflict between these Coinbase Account Protection Warranty Terms and anything else in the Agreement, these Coinbase Account Protection Warranty Terms will govern. Notwithstanding the foregoing, you are still primarily responsible for ensuring the security of your Coinbase Account, and if you suspect that you have been the victim of a Security Breach, you must notify Coinbase Support as soon as possible in accordance with Section 6.2 of the Agreement. ***The Coinbase Account Protection is not an insurance policy. To the extent you require protection beyond the Coinbase Account Protection, we strongly encourage you to purchase an insurance policy or other protection that provides coverage for unforeseen events that may result in the loss of funds held in your Coinbase Account.*** + +Well now we know we're where we need to be, when they're literally suggesting you get an insurance policy, excluding all security vulnerabilities of your devices, and excluding if you provide your credentials and/or MFA to a third party. Use an app to generate TOTP MFA codes? That's a third party. Use a password manager to generate extremely secure passwords? That's a third party. Surely they can't really mean all this, right? + +>**Section 5: Data Protection and Security** + +>**5.2. Security Breach**. If you suspect that your Coinbase Account or any of your security details have been compromised or if you become aware of any fraud or attempted fraud or any other security incident (including a cyber-security attack) affecting you and/or Coinbase (collectively a "Security Breach"), you must notify Coinbase Support immediately at https://help.coinbase.com or (888) 908-7930 and provide accurate and up to date information throughout the duration of the Security Breach. You must take any steps that we reasonably require to reduce or manage any Security Breach. **Prompt reporting of a Security Breach does not guarantee that Coinbase will reimburse you for any losses suffered or be liable to you for any losses suffered as a result of the Security Breach.** + +>**5.3. Computer Viruses.** **We shall not bear any liability, whatsoever, for any damage or interruptions caused by any computer viruses or other malicious code that may affect your computer or other equipment, or any phishing, spoofing or other attack.** We advise the regular use of a reputable and readily available virus screening and prevention software. You should also be aware that SMS and email services are vulnerable to spoofing and phishing attacks and should use care in reviewing messages purporting to originate from Coinbase. Always log into your Coinbase Account(s) through the Coinbase Site to review any transactions or required actions if you have any uncertainty regarding the authenticity of any communication or notice. + +Yup, they definitely meant all that. If you get malware of any sort you're not covered. If you get phished, you're not covered. Now that we've broken this all down, I'm trying to think of a single scenario you might be covered, and all I can come up with is if Coinbase itself experienced a breach. + +I don't even feel like going onto their final advertisement point of 24/7/365 customer support at this point, but that'll be a quick one. + +#3) 24/7 priority support - Your dedicated Coinbase One team is standing by to help at a moment’s notice. Available 24/7/365, including weekends and holidays. + +>**Section 5: Coinbase One** + +>... (b) a dedicated customer support line available twenty four (24) hours a day, seven (7) days a week, three-hundred and sixty five (365) days a year ... + +There aren't much details in the terms on this, but in reviewing other posts in this sub and others, as well as a few blogs - guess what? Your "dedicated customer support line" is a line to a call center rented by Coinbase. The people you'll talk to don't even work for Coinbase. So basically, you've paid for an answering service like CallRuby. They'll be happy to read you some scripted responses, take down notes, and pass them along to Coinbase so Coinbase can try to assist you at a later point though. + +I know this has been long, but I condensed it as much as I could. **Always read the terms.** This $30/month subscription service is literally offering you *nothing*, near-everything is excluded in their terms. + +___ + +***Edit: To clarify for some commentors, I do not participate in the moons program. So if you're sending them, you're burning them. Also, if you're considering giving this post awards that cost money, please don't. A simple upvote, a thank you, and ideally sharing this post any time you see somebody mentioning Coinbase One would be more than enough for me. If you really want to do a bit extra - please make a donation to ProjectHOPE instead of buying awards from reddit on my behalf:*** + +https://www.projecthope.org/crisis-in-ukraine-how-to-help/04/2022/ +What are your thoughts on Universal Basic Income? It is indeed expensive, but I would state that it could replace 75-90% of working age benefits. Just a speculative thought (not a thorough one). + +I need some help from the Investing community on this one. My brother-in-law is not a very well educated investor. He's one of these people that knows just enough to be dangerous and is always looking for the ways to make 1000% profits. So far it's been trading small amounts of somewhat well known stocks and trying to market-time things with no success. My sister tolerates this because it hasn't touched their retirement or savings. + +But starting last week, he's been asking my advise on this OTC stock called Cellceutix. (OTCBB: CTIX). With barely even looking at the stock I told him to stay clear. After some more emails, I looked in to it further and I still think it's way too risky, there's not enough outside info, and just smells bad. (Sorry for the lack of fundamental insight, but I don't know which numbers I can trust). + +So last night I get a call from my sister saying that he's getting ready to put a sizable portion of their savings into this stock and she's worried about losing most or all of it. And I think she's right. The only thing that will stop him at this point is if I can find multiple solid reasons to avoid this stock. So I'm asking for some help because I'm just not knowledgeable enough and don't have the tools needed to do this. + +What can I give him to get him to avoid this stock? Thanks! + +**Edit:** Thanks everyone for the insight on this stock. I knew it was bad, but now I was able to explain exactly how bad it is and why. I managed to convince him to stay with the blended portfolio approach that I set them on a few years ago. + +As for their relationship, it's actually really good. He's not a reckless gambler but really just a big dumb goof that gets really easily convinced that something 'too good to be true' really can be true. (Don't get me started on all the links he sends me about 200mpg cars that run on water or air or whatever pseudoscience and I have to explain to why it's not true and etc.) My sister ensures me that she will always have the final say on any big purchases or investments. I believe her in this but I think it's a verbal agreement rather than a contractual thing. + +Again, thanks. My sister sends everyone here a big hug and delicious virtual brownies. +**Today is a great day to request one of your three free credit reports.** + +By law, US residents are allowed a [free copy of your credit report from each of the three major credit bureaus each year](https://www.ftc.gov/faq/consumer-protection/get-my-free-credit-report). (If you have recently been victim of fraud, denied credit, lost your job, or receive government assistance, you have additional rights - see [here](https://help.equifax.com/s/article/I-just-received-my-free-Equifax-credit-report-from-annualcreditreport-com-Will-I-be-entitled-to-an-additional-copy-of-my-Equifax-credit-report).) + +Spreading your three free reports over the year is a great way to regularly keep an eye out for fraud and incorrect info. Starting with Jan 1st, one-third and two-thirds through the year are May 1st and September 1st. *Guess what today is?* + +**So, do two things today** \- 1: **request one free credit report** at [https://www.annualcreditreport.com](https://www.annualcreditreport.com/), and 2: **setup yearly reminders** on your calendar for all three. (I do 1/1=Equifax , 5/1=TransUnion, 9/1=Experian, but pick whichever works for you.) + + +***FYI/FAQ* Section**: + +Requesting your own credit report [will *not* affect your score](https://www.reddit.com/r/personalfinance/wiki/fico#wiki_.22checking_my_own_credit_will_hurt_my_credit_score..22). + +A ***credit score*** (3-digit number) is *not* the same thing as ***credit report***." A [Credit Score](https://www.reddit.com/r/personalfinance/wiki/fico#wiki_what_is_a_fico_score.3F) is like your high school *GPA* (grade point average) - one number that gives a quick overview of your overall performance. A [Credit Report](https://www.reddit.com/r/personalfinance/wiki/credit_reports#wiki_what_is_a_credit_report.3F) is similar to a full high school *transcript* \- a record of every class you took, the grades for each class, etc. A full credit report will let you see *why* your score is what it is. + +For those also interested in your credit *score*, there's no need to buy it when they offer it with your free credit *report*: [Discover](https://discover.com/free-credit-score/index.html) and [Chase](https://creditcards.chase.com/free-credit-score) both offer free scores to anyone, even if you're not their customer. Many other credit card companies also offer it to their customers - check your statement or website. [CreditKarma](https://www.creditkarma.com/), [NerdWallet](https://www.nerdwallet.com/l/free-credit-score), and others also offer free score access. (Be sure to read and understand the privacy policy of any site you pick.) + +**Why is my score from Discover/Chase/CreditKarma/TransUnion/Experian/etc different from the one my lender shows me?** + +Most lenders use the traditional FICO score. Some free services use a different system to calculate your score. ("VantageScore" is one.) They can vary from your FICO score. + +Some lenders (a car dealer for example) may be more worried about specific parts of your credit than a credit card or mortgage company would, so they may use a variation of the FICO score tailored to their industry. It can vary from the "regular" FICO score. + +Most credit scores are based on data from *one* of the credit agencies. If your lender gets your score from a different agency, it may vary. Look at all three of your credit reports for discrepancies. +https://www.sec.gov/Archives/edgar/data/1467623/000119312518078140/d451946ds1a.htm + +* "Salesforce Ventures LLC has entered into an agreement with us pursuant to which it has agreed to purchase $100,000,000 of our Class A common stock in a private placement at a price per share equal to the initial offering price." + +* "Following this offering, outstanding shares of Class B common stock will represent approximately 98.0% of the voting power of our outstanding capital stock." + +https://www.marketwatch.com/story/dropbox-ipo-five-things-to-know-about-the-cloud-storage-company-2018-02-26 + + +> As is the norm for tech companies going public these days, Dropbox has multiple classes of shares with different voting rights. Class A shares have 1 vote, Class B shares have 10 votes, and Class C shares are nonvoting. MarketWatch pointed out last week that Dropbox's structure still gives heavy voting power to the founders and key investors, but it's "slightly" better than the one rolled out by Snap a year ago, in which ordinary investors don't get any voting rights. + +* Cofounder and Chief Executive Drew Houston owns 38.3% of the class A shares and 24.3% of the Class B shares, for 24.4% of the total voting power. + +* Venture-capital firm Sequoia Capital actually has more power than Houston, with 25% of the Class B shares and 24.8% of total voting power. + +* Cofounder Arash Ferdowski has 9.9% total voting power, mainly consisting of Class B shares. + +[https://www.businessinsider.com/coronavirus-could-cost-apple-4-billion-this-quarter-2020-2?utm\_source=dlvr.it&utm\_medium=twitter](https://www.businessinsider.com/coronavirus-could-cost-apple-4-billion-this-quarter-2020-2?utm_source=dlvr.it&utm_medium=twitter) + +4 billion? +I think that is more than a little optimistic. +Consider all apple production has ground to a halt,of anything.Not just phones,but computers and everything they make. +Kind of hard to make money selling something that does not exist because your manufacturing capability was totally shut down. +Yesterday I counted dozens of posts, all along the lines of "Should I sell all my stocks since Russia is about to destroy the world economy???!!!" and "What Russian stocks can I buy now that Putin is starting a war??!!" + +If you had sold everything yesterday out of fear, you'd be shit out of luck today now that everything is bouncing back heavily. I say it constantly here, and I wish more people listened - make your investment decisions on a case by case basis, after significant research and analysis of each *individual company*. Don't make irrational investment decisions or broad sweeping actions (like selling 75% of your entire portfolio) based on random day to day events. Stay rational, examine each company as an individual case, and stick to your convictions for each investment. If you have an idea of what each company you own is worth as a standalone investment, then you are insulated from anything else going on around you, and you can make buy or sell decisions on an impartial individual basis. +I noticed a lot of talk about dips today. I thought I'd share one that I find quite comforting. + +**Bacon Broccoli Dip** + + +Ingredients + +6 slices Bacon - diced + +½ large Yellow Onion - finely diced + +2 ½ Ethereum - Locked up in staking some shitcoins + +2 cloves Garlic - minced + +¼ teaspoon Crushed Red Pepper Flakes or 1 fresh jalapeno + +6 Cardano + +3 cups Fresh Broccoli Florets - chopped + +8 oz. Cream Cheese - at room temperature + +1 1/2 cups Colby Jack cheese - shredded (or whatever sort of melty cheese you like) + +25000 Par Tokens + +½ cup Parmesan cheese - grated, plus more for garnish + +1 tablespoon Scallions - chopped, plus more for garnish + +½ cup Sour Cream + +2 TBS Heavy Cream, Half-and-Half or Whole Milk + +½ cup Mayonnaise + +1 ½ teaspoon Worcestershire + +½ teaspoon Kosher salt - plus more to taste + +¼ teaspoon Pepper - plus more to + +Cook the bacon until it is crispy. Pour off all grease, minus 2 tablespoons + +Add onions and aromatics. Cook for a few minutes until translucent. + +Grease an 8 inch baking dish (preferably ceramic) and preheat oven to 350. + +In a large bowl, combine the bacon mixture with everything else except a quarter cup of cheese. Stir well and plop into the baking dish. + +Sprinkle the rest of the cheese on top and bake for 20-25 minutes until all nice and bubbly. Pro-Tip: Toss it under the broiler at the end for a minute or two to brown it nicely + +Open Blockfolio (or whatever portfolio tracker you are using) and commence to stress eat this mixture with cracker/bread/spoon +Price target for $VIX is $14. + +It's currently priced at $22. I have thus purchased 7 different $VIX options at price targets ranging from $19 to $12 and expiries ranging from Dec 19, 2018 to Apr 17, 2019. + +At a total cost of $3,000 this is one of the largest investments I have made on this portfolio, but based on historical data and market behaviors, it is one I rate at my highest level of confidence. + +I will be holding onto these positions until they are within $2 - $4, which based on rates of decay will place my expected earnings between 3x - 10x my investment depending on performance. + +Due to my confidence level, I will be holding this investment even through a loss until my holding conditions are met. + +Positions: https://i.imgur.com/Sjvq3mb.jpg + +Some additional notes for those otherwise unconvinced: + +* Average $VIX price for the last 5 years is between $10 - $15. +* During those years, levels above $14 are maintained on average less than a month. +* Even going further back, exceptions to this include the 2008 market crash, which led us into a recession and the 2011 mini-crash which many feared would lead into a recurrence recession. +* All other instances resolves themselves within 2 months to price points below $14. +* Prior to that, $VIX was much higher but has since been decaying - 99.997% decay since its inception and I believe will continue to do so. +* Even in the midst of this recent "crisis" since late September / mid October, $VIX has dropped several times to ~$16 or below, which is within my selling range. +* Thus, I have a ballpark estimate that this investment is > 90% in my favor. Now that I am posting this publicly, I am likely to be grilled :) +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. +MF portfolio is at all time high ( & around 1.5X of annual salaried income). Now any fall is market ( \~10%) would cause 'paper' loss of x month of net salary income. How to mentally clear the hurdle or IOW is there any way to hedge the folio so that upside is capture till major extent while downside is protected till some lever ( ie 10% market rise may be 8 % folio rise, while 10% market fall meaning 3% folio fall ?) +I am investing monthly through paytm money and till now hasn't faced any problem but I don't withdraw much, I sometimes read here and there that there are some people facing problem like cut off time and NAV allocation, is it a safe platform and does anyone faced any issue till now and is there any better way to invest in mutual funds online. +I have invested in mutual funds/stocks and exited from some of them. Now will I need to file STCG tax too? +I checked professional services on cleartax [https://cleartax.in/services/](https://cleartax.in/services/) I used to use the first one before, Will I need the costlier plan "Capital gains income" now? +i have observed that few top amc like HDFC, icici are having negative cash holdings, does it mean that even liquid funds can have fiasco like FT fund’s recently? can anyone help me out in this what we should do with emergency fund which is kept in Icici & nippon liquid fund, should i redeem it or move to overnight fund. + +note the emergency fund i don’t require any time soon as it will be utilised when is any medical/ urgent requirement +Investing 30-40k monthly through SIP in ULIPs or Mutual Funds over 5 years. + +Talked to Policy Bazaar guy, and he recommended to go for ULIPs over MF due to the LTCG tax not being applicable to ULIPs. [ULIPs and LTCG](https://www.ndtv.com/business/long-term-capital-gains-ltcg-tax-not-to-apply-to-ulips-budget-1808775) + + +Seeing the over 23% return (annualized over 5 years) for *Bajal Allianz Accelerator Mid-Cap Fund II*, I was thinking to go for it. + +My doubt is will the returns from mid-cap and large-cap mutual funds be enough to surpass the better performing ULIPs despite the LTCG tax. If not I think ULIP should be the way to go. + + +EDIT: [Bajaj ULIP Features](http://buyinsurance.policybazaar.com/bajaj-future-gain.html) + +[Bajaj ULIP Performance](http://www.moneycontrol.com/insurance/ulip/bajaj-allianz-life-insurance-AB/bajaj-allianz-igain-ii-accelerator-mid-cap-fund-2-IAB300.html) + + + +After having seen the investor interest in Nasdaq100 on this subreddit I decided to do my own research into the index with intention of getting some geographical diversification into my portfolio. I've read up on SP500 as well but the Nasdaq100's returns seemed to good to ignore. + +One big concern for everyone is the concentration of tech stocks within Nasdaq. I understand that but on a deeper level if you look at the stocks on the index they operate in different businesses despite having tech as their key moat. Consider the top 5 stocks which constitute \~42% of the Index, Apple = Consumer electronics, Microsoft = Enterprise software and cloud off late, Amazon = E-commerce and web services, Google and FB = Primarily reliant on ad-revenue. I agree that they will be affected by the broader macro-climate but that's true for all stocks. One common factor could be the high PE that such tech stocks command. + +Are there any other factors that make this kind of tech concentration a risky bet? +What is the best way to buy stocks from American Stock Exchanges like NYSE or NASDAQ in India. + +I need safe, secure and pretty nominal rates in buying these stocks. Please recommend? +It's safe to say that all of us were expecting a lot more from the budget. And the market's recent downturn suggests the same. + +Now, since prices of most stocks are lower now, what do you guys think? + +I invest a portion of my monthly salary into stocks. + +Prices for a few have fallen significantly. + +Example : I really like RIL. Because I like Jio and the Retail sector. Along with their promise to reduce debt. + +Prices have now fallen to 1380. + +According to me, that's a decent price. + +So my question is this, do I get more RIL shares? +Since I find the price to be favorable? + +Or should I just go buy other stocks, as per usual. + +I have a long term time horizon. 20+ years. And I utilise my disposable income for investing. + +Mods, if this is too basic, let me know. And I'll move it to the other threads. + +Note: this post is NOT a discussion on RIL or its price. +https://youtu.be/_Fe8UN8nrm0 + +So this guy uploaded his video on kinds of mutual funds to avoid. There are the usual suspects like Sectoral Funds which makes complete sense. He even mentioned Small Cap and NFO funds although the main reason for this thread is because he said to avoid Index Funds. The part starts around 5:20 min mark. Can you check out the video and confirm whether his reasoning makes sense or not? Because i do think that Index funds makes sense if they're in your portfolio along with actively managed funds. There's still a lot of confusion regarding Passively managed funds so we need to clear out and understand what are the pros and cons of investing in it. +SoftBank is selling all of its stake in Flipkart at a huge profit. + +I realise that these kinds of funds are extremely risky but can investors in India invest in funds like SoftBank Vision Fund? If not, is there an Indian equivalent? + +Mind you, I don't want to become a direct investor investing my own money directly in startups. I want reliable funds to manage that. + +[How To Thrive in Early Retirement](http://archive.is/CfmjW) + +I thought this was an interesting perspective. Especially the bit about less than a million people retired prior to 50. If it was a million even, that would be 1.2% of the population 30-50. + +FIRE must be the popular topic for the media to write about now. I wonder if a down market will stop the media train. + + +Took the car into the Kia Dealership to get serviced and the dealership representatives were consistently talking about the car due to the car having low mileage and it's well maintained. + +We bought the car at around $18,000 in 2020 (putting about $2,000 down payment) and we're at around $12,000 left to payoff. The dealership appraised the car for $16,000. This would be my first time trading in a car so I'm not sure what to expect and how it works with our current car loan. + +In my head, we trade in the car for $16,000. Pay off the rest of the loan, and get $4,000. I'm assuming I'll have to pay some type of taxes and fees. Is it even worth it? + +I'm a skeptic and usually feel like there's more to this than it's a good deal for me. When I'm sure it's a better deal for them. I'm just curious on how to approach it because me and my fiance have both been contemplating on getting an SUV but we do like our Optima. + + +Car: 2018 Kia Optima + +Miles: < 26,000 + +Location: FL, USA + + +Update: I appreciate the feedback. I didn't realize the cost of new cars. I haven't done the initial shopping around for the SUV so I didn't realize that the price rose for it. We decide to not entertain the idea and I'm glad I had asked here first. +EDIT: Thank you so much! I never expected this sort of response from the community when I posted. It's given me some great advice and helped me feel less alone. I'm feeling a lot more confident about this. After reading through everything I've started documenting everything and making a really easy text layout of all the steps I've taken. I'll be seeing what happens from HP's end this week due to the holiday, but I'll also be reaching out ot my credit card company to lay the groundwork for a chargeback which I'll do in the next couple of weeks (turns out I have a lot more time to do a chargeback than I thought on this card). + + +Original Post: + +Apologies if this isn't the right subreddit for this, I didn't know where else to post... + +A few weeks ago I ordered an expensive laptop from HP. It was "delivered" by FedEx, who claims that I both signed for it, and then they left it in the apartment office (we don't have one). + +I started an investigation through FedEx two and a half weeks ago, but whenever I call for an update I get told they're "still trying to contact the driver." + +HP said they would start an investigation with FedEx, but said as long as I get a police report and send it to them they would be able to send me another laptop or just give me a refund. + +I did that and sent it in a week ago. I've tried waiting literal hours on hold trying to reach a sales rep through their customer service line they keep providing me with to check for updates, but never get through so my only option is to email and wait a few days for a response. Finally, after sending another email wherein I asked for any sort of update I was told that they're still investigating with FedEx. + +If I'm being unreasonable, please let me know - maybe this is normal in this type of incident. But I'm not wealthy and I spent a large portion of my savings on this as I need it for my work. Now I not only can't do the work I need this for but I'm currently on the hook for the cost. + +The bill for my credit card which I put this on has already been paid. + +Can I/should I try to initiate a charge back with my credit card company and just find another company to order a laptop from? Or is it too late once the bill has been paid? + +I've never done a chargeback before so I'm not sure what the process is here. +It's times like these that you are glad that you can read Chinese, and not have to deal with clueless English newspapers. I summarized the PBC announcement + +@Is the news out of China about banks & bitcoins good or bad news? + +It's excellent news for bitcoin. Essentially bitcoin exchanges in China and bitcoin itself is going to be treated as a "commodity" rather than a "currency" and therefore not going to be subject to banking and currency control regulations. The only restrictions on bitcoin exchanges is that they will be subject to the standard internet censorship rules and they will need to get the identity of all users to prevent money laundering. Existing financial institutions will not be able to trade bitcoin, but this is a *great* thing for entrepreneurs. + +Also, more excellent news out of Hong Kong. An HK bitcoin exchange basically shutdown and stole everyone's money. This is excellent news because within days, they have been caught and are likely going to go to jail. I'm very, very optimistic about Hong Kong "leading the way" for bitcoin. + +The other good news is that the Chinese government understands bitcoin. According to the notice. + +Bitcoin has the following four characteristics: + +1) there is no central issuing authority +2) the total amount is limited +3) it is not geographically limited for acceptance +4) it is anonymous + +According to the PBC, bitcoin is not a "true" currency because + +1) there is no central issuing authority +2) there is no legal requirement that anyone accept bitcoin + +Bitcoin is therefore a virtual commodity, and therefore is not subject to the laws regarding currency transactions, nor should circulate as a currency. + +-- + +Also here are his thoughts on the overall climate in China regarding Bitcoin: + +1) The PBC has basically given the green light for bitcoin trading and exchanges. They are trying to keep bitcoin trading "separate" from the other parts of the financial system so that if bitcoin blows up, then nothing bad will happen. The thing that I think they are worried about is a Lehman style situation in which something blowing up in derivatives brings down the rest of the economy. + +The strategy of creating a ring fence around new markets is a very standard one in China. Hong Kong is an entire city that is ring fenced. + +2) Not terribly much. It only started to get on the radar screen a month ago. + +3) The main driver is that there are tons of money in China and no one knows what to do with it all. The traditional investments (real estate and stocks) have been closed off by government action since the government has made it clear they will kill any bubble in the real estate and stock markets. So the money is going into all sorts of "non-traditional" investments. Bitcoin is just one of them. + +4) Geeks. So far it's not the type of thing that random people will buy. + +5) It's not very mainstream. However, its taken the Chinese geek community by storm and there are a lot of geeks in China. As with a lot of Chinese things, the fraction of people in China who are geeks is small, but a small fraction times a billion is a lot of people. + +6) No harder than it is to buy anything else online. + +Bitcoin has not gotten much mainstream attention and its still something that is with geeks, but you have the perfect storm of a lot of other things. The main thing is that bitcoin has hit China exactly at the time where China is looking at restructuring its entire economy and financial system to move out of low tech industries into high tech ones. It also hit China at just the right time in the credit cycle. China has recovered from the 2008 crash and is just starting to enter into another boom phase (which will last about two to three years before the economy crashes again). + +EDIT: Source + +http://www.quora.com/China/What-is-the-situation-regarding-Bitcoin-from-the-perspective-of-someone-in-China/answer/Joseph-Wang-9?srid=FmS&share=1 +and +http://www.quora.com/China/How-will-Chinas-recent-crack-down-on-Bitcoins-impact-its-near-term-and-long-term-value/answer/Joseph-Wang-9 + +EDIT #2: From comments below: both **Baidu and China Telecom** are regulated by the **Ministry of Industry and Information Technology (MIIT)**. Which is now the same regulator for BTC. Until MIIT tells them (and other tech companies) HOW to go about accepting this "virtual commodity," they ARE running afoul of their regulator by accepting BTC. It's not illegal for China Telecom and Baidu to accept BTC, but why would they continue to do so in the same manner as they have in the past? Last week, there was no regulator. Today, there is. It would be idiotic and very much unlike how China works, if they continued to accept BTC w/o guidance from the MIIT. + +The specific verb used by Baidu Jiasule, '暂停' means to 'temporarily suspend' or 'pause'. It's not how they would usually express a permanent end to the service. + +A temporary pause could turn out to be a permanent halt, but that isn't the message they wanted to put out at this time. + +A reasonable explanation for this is that they're being careful, because they don't know, yet, how the new rules will be interpreted. So they're waiting to see what happens. +THE REAL ONES KNOW NOT TO SELL ANYTHING BEFORE AT LEAST 100K + +&#x200B; + +They need every real share that exists, and they cant have them all without us + +&#x200B; + +Stay strong, and stop crying.... you guys are starting to piss me off +December 2020 ape here. Been here since the beginning and completely DRS’d. Finally have enough karma to post! + +I’ve been thinking a lot about the photo of KG in the box seats talking with Elon, Kushner, etc amongst others. + +I get the whole “business as usual until it’s not” and “survive just one more day” but I just can’t help but feel perplexed with regard to the seemingly unworried demeanor of him in this public space. This and the near constant traveling around the globe. How does one maintain this sense of detachment from the looming atomic bomb overhead? + +Additionally, with the constant traveling, I wonder what mechanisms are in place for someone like KG to remotely manage the situation Citadel is undoubtedly facing. How does one communicate and coordinate in such a way that preserves discreteness? +**My Question:** + + *Hi, I've been looking all over the place for an answer to this question and can't seem to find a definitive answer. When ETFs purchase shares, are they registered in their own name at the transfer agent, or does it go through Cede & Co like regular brokers? Also, is it the same for other institutions, such as pension funds, mutual funds, index funds, etc..? Thanks!* + +**SEC Answer:** + +Dear ----:  + + +Thank you for contacting the U.S. Securities and Exchange Commission (SEC).  + + +You ask whether shares purchased by ETFs, pension funds, mutual funds, and index funds are registered in their own name at the transfer agent or if they go through Cede & Co.  + + +Mutual funds (including index funds) are not DTC-eligible (Depository Trust Company). They are purchased and redeemed (no secondary market) between brokers and mutual fund entities (technically transfer agents, often part of the fund organization, or a third-party processor). The National Securities Clearing Corporation (NSCC) has a platform called Fund/SERV and a related service called Networking that connect brokers placing and settling mutual fund orders with fund transfer agents. + + +Pension funds are institutional investors and typically appoint investment advisors to instruct trade orders to brokers and then settle via their custodians at DTC. They use a service called ITP (institutional trade processing) to coordinate between the investment manager, broker and custodian. On the pension plan side, pension funds also have recordkeepers to keep track of underlying  sub-accounting for plan participants.  + + +Unlike mutual fund shares, ETFs do not sell individual shares directly to, or redeem their individual shares directly from, retail investors. Instead, ETF sponsors enter into contractual relationships with one or more financial institutions known as “Authorized Participant,” typically large broker-dealers. Only Authorized Participants are permitted to purchase and redeem shares directly from the ETF, and they can do so only in large aggregations or blocks (e.g., 50,000 ETF shares) commonly called “Creation Units.” + + +To purchase shares from an ETF, an Authorized Participant assembles and deposits a designated basket of securities and cash with the fund in exchange for ETF shares. Once the Authorized Participant receives the ETF shares, it is free to sell the ETF shares in the secondary market to individual investors, institutions, or market makers. + + +Shares that are held by the ETF’s investment portfolio are subject to Rule 17f of the Investment Company Act of 1940 and general practice is to hold those shares with a custodian bank. Shares at a custodian bank tend to be held in the asset owner’s name (for example, “Vanguard S&P 500 ETF,” “Ford Foundation” or “California Public Employees’ Retirement System”). If an ETF is DTC-eligible (which most US ETFs are, once created), they clear and settle like equities in the secondary market. They are held at DTC and registered like all deposited securities in DTC’s central nominee name, Cede & Co.  + + +Please let us know if you have additional questions. + + +Sincerely,  + + +Office of Investor Education and Advocacy  +U.S. Securities and Exchange Commission  +So far retail has been fighting alone with zero help from regulatory bodies that are supposed to protect investors and also RC/GME board. Thanks to all the individual wrinkle brained apes for spending immense amount of time digging out information and theories backed by data and others participating and debating that retail has come so far. With zero help from any side. *IF* the MOASS triggers due to DRS or some other unrelated event that is not directly caused by regulatory bodies or GME, remember you also have zero obligation to regulatory bodies or supporting GME (the stock or the company) after MOASS. You can always exit at the peak of MOASS. + +Edit: If MOASS triggers due to positive earnings I will consider that as directly caused by GME. But I doubt naked shorts will be forced to close due to positive earnings in any reasonable time frame. +I'd like to take a portion of my wealth to create a business without actually doing (much?) business. Essentially, I'd like to create a DIY family office situation. Is this possible and what is the best way to legally accomplish it? + +&#x200B; + +Why? + +* Would be nice to have a business to point to instead of the vague "consultant" answers to "what do you do?" questions when I'm actually RE +* I'd like to "hire" some family members to supply them with some amount of living expenses and insurance coverage +* I'd like to have access to the wider variety of group insurance products instead of personal, subpar coverage like ACA individual market options + +&#x200B; + +Questions: + +* What are the legal pitfalls of this? I understand I could just write a check to fund a business, but the IRS will call a business a hobby if it isn't making income. If I need to make income, can I simply personally buy a ton of "products" that the business is offering? Or create a brokerage account and do some token investment to generate income? +* What might be the best "businesses"/structure to achieve this? Something like selling digital products? Investment company? +* I realize that tax costs are high for doing this, but what other issues might I not be thinking about? Presumably insurance companies aren't thrilled about it? +* Are there any resources online for this kind of thing? My Google searches so far have turned up nothing + +Thank you +I suppose this is a collective ask for my own sanity. I am curious whether my feelings are justified or unreasonable. + +Background: I am very blessed and have a couple companies that have done really well, and more or less allowed me to hit my “number” in life. + +I enjoyed the game of business though, so I really liked to continue playing. That was until coronavirus happened earlier this year..... + +My businesses while it was scary at first, I think will have relatively minimal impact long-term assuming things don’t lockdown again. It was horrible though when this all happened and I had to furlough all my employees and really feel like I was being asked to self-destruct everything. I will stop there because I don’t want this to turn into a health debate, but yeah, it sucked. + +I currently can’t shake the feeling I no longer want to really “push” my companies to grow anymore. I had some big aspirations with one of them, but the feeling that the government has the power to take it all away at the snap of a finger, just really fractured my sense of the entrepreneurial spirit if that makes sense? + +I am to a point where even though I’m in my early 30’s, I kinda want to just retire mega-early and just do pet projects. Is it ok that I feel this way? +Thanks for all the great content here. + +I'm in my end 30's, have been my own boss my whole life. Now I'm getting closer to be able to retire. A life goal has always been to retire by 40. + +Here's where I'm at... Live in Asia! Have a few companies. + +a. One company where 100% of profit is reinvested to build a chain of stores. Currently 10 stores. Just waiting to get big enough to sell it all in one go. Until I can get 10M USD for it I don't want to sell. Maybe 1-2 years out and it's there. + +b. One company making a good profit. I assume this year around 800k-1M USD after tax. + +We have an apartment worth around 3.7M USD, already paid out in full. + +I don't have much else than above. Not much cash as such, few hundred thousand. + +I have enjoyed the path to where I'm at. I pretty much already have all the luxury I can ask for. Two large Mercedes, Driver for the S-class. Also, have a living in cleaner and chef. I can order anything I want and it will be ready for dinner. My wife doesn't work, so a lot of quality time with the kids as well. + +Our spendings including school etc per year are around 175k USD/year + +Things are good and I can work as much as I want. Don't feel like companies are dependent on me or I overwork myself. However, I do work 50 hours per week, but out of pure pleasure. + +Of course, I could continue and it wouldn't be a bad choice. However, I feel like it could be fun to move somewhere and start a new life before I get too old. Travel a lot with the kids before they are too old and have their own life. + +My question here is more on what to do? It wouldn't make sense to start a new company all over, although the entrepreneurial spirit might kick in again. Write a book maybe... + +Also, chasing good suggestions on where to move? We were considering Australia (I know it's not cheap). Don't want to move back to North Europe where I'm from. +Think about who is buying that coin when you sell it. People who know the price is going to go right back up. Hold your coins, don’t sell. This is not financial advice. +Youtubers don't inherently care whether you get rich or not. In fact, those same guys that claim to "make you rich" aren't rich themselves, so why the hell would they care to give away some kind of secret master plan to make you loads of money? + +Use your head, and don't be tricked by these guys. They don't give a fuck about you, so make sure to return the favor.... + +If you want sound advice or have questions that need answering, well you've come to the right place! +He said they had extra resources on a CubeSat and thought it would be amusing. I don't think anyone is getting rich on this however. Just thought it was interesting. +He said they had extra resources on a CubeSat and thought it would be amusing. I don't think anyone is getting rich on this however. Just thought it was interesting. +Since early 2021, a lot of small and micro stocks traded on the Nasdaq have dropped more than 50%. A lot of those are biotech and healthcare companies that already had low valuations. Will they rebound and is it a good buying opportunity at this point? Thanks for the advice. +[Number of Nasdaq Stocks Down 50% or More Is Almost at a Record](https://www.reddit.com/r/kplt/comments/ry2kle/number_of_nasdaq_stocks_down_50_or_more_is_almost/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) +We bought a house that had a garage workshop turned into an indoor office space (the garage entry was sealed and a new entry was made indoors). It has a french door entry, no windows, no closets. It's roughly a 15 x 15 room. When we purchased the house it was listed as a bedroom but it was obvious that it isn't. In reading briefly about how property taxes are assessed, would it be possible to get the bedroom "removed" from the house details to lower the assessed value? + +edit: I'm in Dallas, Texas +Has the stock market ever been in more uncertain times? Inflation has never been this high in 40 years. Our government says chances are at least 50% Russia invades Ukraine which will cause huge effects on our economy once we put up sanctions on goods and worsen inflation dramatically. AND covid could potentially mutate and be 10x more lethal which would instantly cause a world wide recession due to lockdowns and world panic. You've seen how often this virus has mutated. Not all that unrealistic it can mutate the other way and even evade our current vaccines +Am I delusional for trying to make a career out of this? Taking a statistical approach, if you have any strategy that is above 50% success, you'd be profitable over time, meaning your income is exponential. So why don't we hear success stories of these people? Why am I not successful? Where are the millionaire algo traders? Multi-Millionaire spec traders? + +If you're a successful trader, what's your annual salary? Is there hope in learning all this shit? + +I've spent over 2 years trading and studying the market and I'm still down 11%, reading Mark Douglas, other materials, being a part of 3 brokers, developing all kinds of strategies for different assets, I'm putting as much time into this as a full time job, but I'm actually losing money and literally working another job would be better. I really want to know if I'm just wasting my time and that this 100k-200k career is actually delusional. +[GameStop.com](https://www.gamestop.com/) || Shop [Internationally](https://www.reddit.com/r/Superstonk/comments/vyyzmx/gamestop_retail_international_nft_game_informer/) || [NFT Marketplace](https://nft.gamestop.com) + +GameStop [Investor Relations](https://news.gamestop.com/) + +# 🙋 ​[What's GME & should I consider investing?](https://www.reddit.com/r/Superstonk/comments/qig65g/welcome_rall_looking_to_catch_up_on_the_gme_saga/) + +# 📚 Library of Due Diligence [GME.fyi](https://fliphtml5.com/bookcase/kosyg) + +>A collection of over 200 of the most important, groundbreaking **D**ue **D**iligence. 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 + +# 🟣 [Computershare Megathread](https://www.reddit.com/r/Superstonk/comments/xxh13d) 🎃🐦 + +>Wondering what DRS is? Want to know how and why people are Direct Registering their shares? Here you'll find our guide and additional resources, as well as a welcoming community answering questions in the comments! + +🏴‍☠️ [NFT Marketplace & Wallet Megathread](https://www.reddit.com/r/Superstonk/comments/vluysg/gamestop_nft_marketplace_wallet_megathread/) + +>Why is GameStop getting into NFTs? *WTF* even is an NFT? How do I set up a GameStop Wallet? How do I get a cool/custom wallet address? All these questions and more are answered here! + +**Read** [**the Rules & Wiki**](https://www.reddit.com/r/Superstonk/wiki/index) **||** [**MOASS FAQ**](https://www.reddit.com/r/Superstonk/wiki/index/faq) **|| Join our** [**Discord**](https://discord.gg/Superstonk) + +How to [feed DRSBOT](https://www.reddit.com/r/GMEOrphans/comments/qlvour/welcome_to_gmeorphans_read_this_post/). Low karma? Post your DRS on r/GMEOrphans + +How to [Filter by Flair & Search](https://www.reddit.com/r/Superstonk/comments/v0oxp2/how_to_filter_by_flair_search_for_posts_on/) on Superstonk + +Tag u/Superstonk-Flairy for user flairs, find [custom emoji options here](https://www.reddit.com/r/Superstonk/comments/v89p0h/new_superstonk_user_flair_emojis_how_to_edit_your/) +[GameStop.com](https://www.gamestop.com/) || Shop [Internationally](https://www.reddit.com/r/Superstonk/comments/vyyzmx/gamestop_retail_international_nft_game_informer/) || [NFT Marketplace](https://nft.gamestop.com) + +GameStop [Investor Relations](https://news.gamestop.com/) + +# 🙋 ​[What's GME & should I consider investing?](https://www.reddit.com/r/Superstonk/comments/qig65g/welcome_rall_looking_to_catch_up_on_the_gme_saga/) + +# 📚 Library of Due Diligence [GME.fyi](https://fliphtml5.com/bookcase/kosyg) + +>A collection of over 200 of the most important, groundbreaking **D**ue **D**iligence. 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 + +# 🟣 [Computershare Megathread](https://www.reddit.com/r/Superstonk/comments/xxh13d) 🎃🐦 + +>Wondering what DRS is? Want to know how and why people are Direct Registering their shares? Here you'll find our guide and additional resources, as well as a welcoming community answering questions in the comments! + +🏴‍☠️ [NFT Marketplace & Wallet Megathread](https://www.reddit.com/r/Superstonk/comments/vluysg/gamestop_nft_marketplace_wallet_megathread/) + +>Why is GameStop getting into NFTs? *WTF* even is an NFT? How do I set up a GameStop Wallet? How do I get a cool/custom wallet address? All these questions and more are answered here! + +**Read** [**the Rules & Wiki**](https://www.reddit.com/r/Superstonk/wiki/index) **||** [**MOASS FAQ**](https://www.reddit.com/r/Superstonk/wiki/index/faq) **|| Join our** [**Discord**](https://discord.gg/Superstonk) + +How to [feed DRSBOT](https://www.reddit.com/r/GMEOrphans/comments/qlvour/welcome_to_gmeorphans_read_this_post/). Low karma? Post your DRS on r/GMEOrphans + +How to [Filter by Flair & Search](https://www.reddit.com/r/Superstonk/comments/v0oxp2/how_to_filter_by_flair_search_for_posts_on/) on Superstonk + +Tag u/Superstonk-Flairy for user flairs, find [custom emoji options here](https://www.reddit.com/r/Superstonk/comments/v89p0h/new_superstonk_user_flair_emojis_how_to_edit_your/) +This question is extremely vague by design since it does not take into account of these simple question: + +1. What insurance? +2. What is your premium, payout? +3. Some other question I have not taken into account. + +What I am after is a mathematical model that also takes in probabilities of triggering your payout over time, and of course time itself, into consideration. + +This is purely for my curiosity. I would love to hear your thoughts! + +Edit: My terminology might be incorrect, sorry :(. +This was it, the was the first shot fired in a brewing war. + +Standing side by the great and still very powerful Carl Icahn we see the passing of the torch. This is the signal that we are not, and in fact have never been, fighting alone. The writing on the wall is clear for all elite to see, those that smear it in lies for personal gain and those that see a responsibility to usher the ever evolving human condition to greater heights with each successive generation. + +Soon the world will be swept into this war, it’ll be a period of great change, of chaos and opportunity, of weakening centralized power structures, of self expression, of independence protected within community, of transparency, access to financial autonomy, of the rise of the players. + +One might say the best time to be alive in human history is now. +I saw posts about Apes contacting the authorities and decided to become a part of the solution, instead of sitting and waiting. + +I called my representatives office(5th Congressional District of Florida) and explained to their staffer what is happening with Gamestop's recent corporate action and how communications with brokers and the DTCC have revealed that the corporate action has been handled in a fraudulent way and not how the corporation explicitly stated it to be handled. I told him that I am an active duty service member(I felt cheesy doing this, but I think it could have a powerful impact on how my case is handled internally). He was very nice and sounded intrigued and he asked if I, "wanted this issue to be brought up to the representatives financial enforcement folks", to which I said, "absolutely." I then left them with my @mil email address to follow up on and to send documents once they reach out. + +Anyone care to provide me with some of the more pertinent documents that show the DTCC is intentionally mishandling the splivy? I have some of the Fudelity chats, but if anyone has anything else I would appreciate it. + +YOUR TURN! DO. NOT. SIT. IDLY. BY. WAITING. FOR. WHAT. YOU. DESIRE! + +MUCH LOVE ❤️ 🚀 + +Edit 1: https://www.house.gov/representatives/find-your-representative + +You can keep it short and sweet like I have, or write out a more detailed tirade, but dont be shy! GO FIND YOUR REPRESENTATIVE AND GIVE THEM A CALL! "DO IT!" -Shia LeBouf + +Edit 2: As requested.. https://images.app.goo.gl/iPG9tm68DoEtyfA66 +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. +Hello everybody! + +This will be an attempt to connect the dots between some of the DD I have been reading here, mainly between the fantastic DDs and research of fellow individual investors providing bonafide research you probably can't pay for even if you had the money. + +I'm flairing this as Possible DD because it's speculation. I tried to remain grounded and tried to use as much facts and logic as my cerebral cortex and my temporal lobe allowed me but it's still speculation. + +I hope by diving deeper into what I will discuss here, we *(the curious individuals who like the stock completely independently from one another)* will be able to put our minds together and brainstorm to figure out exactly what is going on. + +Think of it as a Grand Unified Theory of Fuckery or simply **GUTOF!** + +Sorry if the name sounds grandiose. It's a joke. I don't pretend to have figured out anything what-so-ever. These are just the ramblings of a single person and therefore can be a little/half/mostly or completely wrong. I don't have any finance education. I got into investing in February when I heard about GameStop. GME is my first (*and now only*) stock. Therefore everything I say must be taken with a massive grain of salt. + +&#x200B; + +I want to go step by step and fully understand - if that is possible - the following: + +1. What happened leading up to January? Story of the deep OTM puts. +2. What happened in January? Who has been holding the bag since? +3. What is happening now? +4. Conclusion - TBC? + +&#x200B; + +Without further ado, let's get to it. + +&#x200B; + +# 1. What happened leading up to January? Story of the deep OTM puts. + +Let's go back to April 2^(nd) 2020 when GME closed the day at $2.85/share. Imagine buying GME at that price... You had funds like DOMO scratching their heads at why a company is trading at a level below the cash/share in it's treasury. + +I believe this is where the short positions that turned into the $0.50 and other deep OTM puts came from. I believe - as I tried to explain [in the comments section](https://www.reddit.com/r/Superstonk/comments/on9dtz/otm_puts_are_the_passed_puck_of_short_positions/h5qdy34/) of u/Criand's latest post, that Melvin and Citadel Advisors went short these shares through a dark pool. They may have been buying and selling these shares among each other in a dark pool, much lower than the market price, for example at 0.50$/share. They would be doing this in order to crash the price and force the company to be delisted - which would mean they would not ever have to close their shorts. + +Now the real tinfoil hat question, what if Blackrock or Vanguard or another big player swooped in and yoinked some of those shares at those prices and that's how the SHF game went out of control? Just something to think about. By the way, it was none other than u/TDETLES that got me thinking about this, [when he asked me this, right here](https://www.reddit.com/r/Superstonk/comments/oej80d/when_gme_was_shorted_140_literally_any_hedge_fund/h46odn6/?context=3). + +FYI we have actually seen vastly underpriced transactions in the dark pools before (like 80ish$/share when the market price was 200$+). I have been looking for 2 hours and I can't find the video or the screenshots anywhere. If anyone knows what I'm talking about and knows where to find it, please share with me so I can add it to the post. + +When the price reached 20$ in December 2020, the SHFs still had not closed their positions. Then January happened. + +&#x200B; + +# 2.1. What happened in January? + +[The Sneeze. God Bless You GameStop!](https://thumbor.forbes.com/thumbor/960x0/https%3A%2F%2Fspecials-images.forbesimg.com%2Fimageserve%2F6054f8d0068cea16946daf95%2F960x0.jpg%3Ffit%3Dscale) + +I think that when the sneeze happened, Citadel Securities (the MM) created a stupendous amount of *synthetic long positions* by buying naked calls and selling puts of the same strike price. + +Melvin Capital and Citadel Advisors converted their massive, catastrophic short positions to *synthetic short positions* by selling naked calls to and buying those puts from Citadel. + +For more information on how this "works" *(it really shouldn't)* [read this document](https://www.sec.gov/about/offices/ocie/options-trading-risk-alert.pdf) prepared by none other than our favorite - the SEC. It's not that long but it's enough to make you want to throw up. + +u/Criand explains this concept very well [right here](https://www.reddit.com/r/Superstonk/comments/on9dtz/otm_puts_are_the_passed_puck_of_short_positions/). (See #2) + +&#x200B; + +A picture speaks a thousand words and I'm quite proficient in Paint. + +&#x200B; + +# Abra Cadabra! HYPOTHECATE! + +[STEP 1 - Transfer real short positions for a synthetic short position so you can testify under oath that you've closed your short positions ](https://preview.redd.it/i2a1zbvi18c71.png?width=996&format=png&auto=webp&s=0a5335b14b4e7db120837d82a62a8257fcde82d5) + +# Hokus Pokus! RE-HYPOTHECATE! + +[STEP 2 - Exercise naked call, get your phantom shares that don't exist, do whatever you want. ](https://preview.redd.it/9cdfd5uo18c71.png?width=1044&format=png&auto=webp&s=2ae687cead0892bd7b0bd9c0ef4ebeee3129f0b4) + +Now Melvin and Citadel Advisors owe all those shares to Citadel Securities. What's a couple million shares between friends anyway? + +# But wait, Citadel Securities has exercised and sold those shares to the market but have not yet delivered. So in essence, Citadel Securities is now also short to the market. + +So... what is Ken to do? Does he have enough juice to hold a toxic position like this? Let's think... If we **only** consider the 60 million-ish shares sold short at the $0.50/share price point... at the 482$ level this is a loss of 481.50$/share. Multiply that by 60 million and you get... 28,860,000,000$. That is 28 billion 860 million U.S. dollars. Let's see if Citadel Securities can possibly tank this damage. + +*(( All numbers above are estimated. The real numbers are most likely different from this. ))* + +Remember, this is only 1 price level as interpreted from those OTM puts... there are others. + +Citadel Securities [balance sheet at the end of 2020](https://sec.report/Document/0001616344-21-000004/CDRG_StmtFinCndtn2020.pdf) had 66.7 billion dollars of long positions and 57.5 billion dollars of short positions with only 523m$ in cash. Even if they were able to liquidate all of their assets without a loss - tough task - [they only had a cushion of 3.15 billion dollars](https://i.imgur.com/JNzrQZ7.png). Just the one position above would cost them 28.9 billion dollars... This means instant bankruptcy. This is why they intervened and stopped the January run in its tracks. They would have all been wiped out from existence, possibly in a single moment. + +# 2.2. Who has been holding the bag since? + +So Ken has a literal armed nuke in his hands, it's counting down and it's going to blow. There is no way out, nowhere to run. Someone needs to take it off his hands. Who would do something this crazy? + +Enter u/AcedVector with [this monster of a DD](https://www.reddit.com/r/Superstonk/comments/o7fsqc/where_and_how_citadelother_hedge_funds_have_been/). This was the DD that made me begin thinking about how all of this connects to each other. + +I'm not going to go too deep into total return swaps here. Check out the DD above and as always, do your own due diligance. DYODD! + +Basically, Ken had a massive short position that he has to close. He has to deliver those shares. So what does he do? Who takes such an insane risk? + +Who else but the usual suspects? The banks. The fucking banks. Their balance sheets are trillions of dollars. They could hold this toxic position for some time and as we know from the 2008 mortgage crisis, those bank managers love selling swaps for those juicy fees. The more they sell, the more fees they collect, the bigger their bonuses. It's the same thing over and over again... + +He writes covered puts and tells the banks something like this. I wasn't there so I'm guessing. + +*"Hey I have these puts and these shorts. I have marked them to the price point of the shorts, why don't you take my short positions out of my hands and if the price of GME goes up, I pay you the difference. If the price of GME goes down, you don't have to pay me anything because I'll just take back my position and cover. In the meantime, dear bank manager, your bank will make a shitload of money from selling me the swaps and you get to collect your bonus. By the way, did I tell you that I completely control the price and it will go wherever I want anyway? Don't worry GameStop will go bankrupt anyway and I won't have to cover anything and the swaps you're holding won't put you under any risk after that."* + +Who in particular? I don't know. Probably BoA. They are Citadel's prime broker. Maybe Credit Suisse. They have proven dumb enough to do this type of thing before. Goldman? Why not? They're always in the middle of everything. Truth is, this is impossible to know. + +# 3. What is happening now? + +As you might know, the volume of GameStop has gone down to the level of a leaky, dripping faucet that keeps you from sleeping at night. That is to say -close to no volume. I subscribe to the opinion that the only reason this is still going on is because there is close to no volume and if there is any serious volume coming in the MM ($hitadel) will lose complete control of the price and we will witness a cascade of margin calls leading up to the MOASS. + +What we are currently seeing is the MMs and SHFs using the innate leverage in an options contract ( Δ x 100) to swing the price of the stock by making possibly heavily leveraged options trades. The current price movement is almost completely dependent on the options chain as u/Criand again explains really well [right here](https://www.reddit.com/r/Superstonk/comments/on9dtz/otm_puts_are_the_passed_puck_of_short_positions/) (See #3). + +Citadel Securities LLC is a market maker who is a member of the DTCC, the NSCC and the OCC. This gives them certain privileges that we retail investors can not possibly dream of. They can write/sell naked options, make naked sales if it is a long sale *(for liquidity...ok...)*, pick apart and reassemble ETF shares for ETFs *(if they are authorized by the issuer - and they are in most cases)* as long as they can back up their trades by showing to the NSCC that they are [financially responsible *(LMAYO)* and operationally capable *(not for long)*.](https://www.dtcc.com/~/media/Files/Downloads/legal/rules/nscc_rules.pdf) \- Rule 15. Basically, they can pretty much do whatever they want as long as they stay solvent and on the good side of the NSCC. + +This is the reason we are seeing this insane options activity. Immediately exercised ITM puts to crash the price, OTM puts to hide shorts, deep ITM calls to satisfy FTDs, naked calls to dilute stock... All of this is possible due to Citadel and Citadel can do this because the NSCC and the OCC allow it. + +None of the rules that were passed recently were actually necessary to take down Citadel. + +The OCC always had the means to kick Citadel out of the market **at any time**. [They can apply Rule 1102](https://www.theocc.com/getmedia/9d3854cd-b782-450f-bcf7-33169b0576ce/occ_rules.pdf;) or - if Citadel objects - [Section 14 of their bylaws and suspend any rules](https://www.theocc.com/getmedia/3309eceb-56cf-48fc-b3b3-498669a24572/occ_bylaws.pdf) preventing them to kick Citadel out. + +The NSCC can also wipe Citadel **today** if they wanted to, all they have to do is to [apply Rule 46 and Rule 22](https://www.dtcc.com/~/media/Files/Downloads/legal/rules/nscc_rules.pdf) *(if any of its own rules can be used to prevent it from suspending Citadel)*. + +But alas, the regulators are snoozing or ... you know ... NSFW... + +Jokes aside, I hope they actually have a plan and they're just waiting for some unknown process to be finished so they can go to town on these crooks. + +# 4. Conclusion + +I actually have more tinfoil to spread around. My head is full of it and the more I travel through the bowels of this sub, the more my mind is blown with the simple brilliance of some of you people and I spray tinfoil everywhere. + +I want to also go into Synthetic ETFs (check out u/Horror_Veterinar's work about this) as well as how this will impact the entire economy. Check out [u/Freadom6](https://www.reddit.com/user/Freadom6/)'s DD on this. + +If you guys want to see more of this, let me know. If not, that's fine. I'll go back to the daily and hang out with my fellow apes there. + +&#x200B; + +Peace & Love! +I calculate roughly 2 shares per month will be added to the infinity pool because of this. + +Figured I don't need to self medicate since I'm gonna get to try all new kinds of space drugs soon :) + +420694206942069420694206942069420694206942069420694206942069420694206942069420694206942069420694206942069420694206942069420694206942069420694206942069420694206942069420694206942069420694206942069420694206942069420694206942069420694206942069420694206942069420694206942069420694206942069420694206942069420694206942069420694206942069420694206942069420694206942069420694206942069420694206942069420694206942069420694206942069420694206942069420694206942069420694206942069420694206942069420694206942069420694206942069 + + +Edit 1: WOW Did not expect this kind of support, was browsing superstonk on my new phone (not logged in to reddit) and happened to see my post on the top, so surreal. Thank you apes <3 +I made a comment about this in the daily, but wanted to post it here for some more visibility. + +This sudden obsession with crypto's supposed mass move to GME is based on zero real information. Until I see volume that shows they've moved, I'm going to assume it's more FUD for the media to blame crypto on the market decline. Especially when there's really only one post on the whole crypto sub linking the recent dip and GME, and most of the comments are talking like it's just conspiracy mumbo-jumbo. The general consensus on the crypto sub is that they've been infiltrated by r/superstonk conspiracy theorists. + +So that means either: + +1. This is an intentional shill tactic to shift the blame of the market decline to crypto day traders +2. This community has just taken no news too far and made tons of memes without real evidence +3. Both of the above + +My opinion is that it's #3. Shills made this no-news "news" here, and our sweet smooth-brained apes went to the meme factory because it's exciting. This is what they wanted. ALWAYS DOUBLE CHECK YOUR SOURCES, OR CHECK FOR YOURSELVES BEFORE YOU INADVERTENTLY SPREAD FUD!!! + +[Here's the original post on the other sub.](https://www.reddit.com/r/CryptoCurrency/comments/njegof/the_real_reason_crypto_is_tanking/) Look at the comments. + +Just buy, hodl, and vote. + +Edit: As u/the-stratonites mentioned, there is another possibility: it's so HFs/media can say the reason GME went up today is not because of T-35 or anything to do with GME directly, but because crypto people started selling all their crypto and bought GME instead. +Ofcourse, no one knows for sure what's going to happen, just ~~educated~~ guesses. I personally don't think we are/going into a 'bear' market. That term gets thrown around a little too easily on this sub. I'm guessing things will pick up considerably in the next month or two but I'm a naive shrimp. + +I keep hearing a vast majority of Alts do not make it out of a true bear market. They usually reference 2017 till now. I get it, some coins get wrecked but that was also a very different time in Crypto. I think the blow to credible Alts won't be as harsh this time around. + +That being said, a number of them will not recover. This is the time to air it all out, which coin(s) will not survive? +The title just about says it all. She left grad school 6 months ago to take care of our baby and has no income currently. She has bad credit. I have good credit. + +Consolidating these loans would add a lot to my debt:income and I don't want to hurt my credit by doing so. Is my logic accurate? + +Edit: not all of her loans are from graduate school, only about 10k from undergrad. she was in chiropractic school then we had the baby. she was thinking of going back, but with the amount of money it would end up costing her (~300k) we made a decision for her to stop borrowing money and take care of our child, instead of putting her in daycare. Not all chiropractors make a ton of money, so it doesn't make sense for her to finish especially since she has an undergraduate degree that she can get a job with, so in a few years she will be working and paying off her portion of the debt. +I've been in the crypto space since 2011 and I haven't been this disappointed with the direction the community was headed since centralized coins began being viewed as legitimate by so many crypto users. + +You can't hack crypto, you can't shut it down, you can't regulate it, you can't stop transactions. But apparently you can try to de-legitimize it by creating meme coins and then turning them and the entire space into a spectacle. It doesn't reflect well when centralized coins and meme coins have such a large presence among truly revolutionary protocols like Bitcoin, Ethereum, Cardano, etc. + +And no, I do not think meme coins are a good outreach tool or a good introduction to crypto. In other areas of life, it's best to teach good fundamentals early so that these principles grow with you. It's the same with crypto. There are plenty of solid coins that have a low barrier of entry without sacrificing fundamentals. Those are the coins that should be promoted to beginners, new crypto users and the public. +It's insane how quickly sentiment changes here. Celebration to despair in the blink of an eye. It's easy to get swept up in the panic when everyone is talking about how the bear market is here, coins are going lower, etc. "Next stop btc 20k! Eth $600!" As soon as we get green candles again, it's all forgotten. + +Don't put yourself through the mood swings. Get off reddit, go down to the pub and wait for it all to blow over. +Hope it breaks through resistance of about 14.5$. Maybe the Ethereum Enterprice announcement on the 28th will be the trigger. And if it breaks through it will shoot up like a rocketh.... +# +205% + +**That's how much my portfolio had gained at one point last year.** + +Life was really looking up. I had hit my goal for crypto gains for the year and I considered taking some profits. + +*"Maybe just my initial investment,"* I thought to myself. + +But no, I'm a HODLer. I believe in the tech long term. I believe that the coins I'm invested in, will in 5-10 years time form the foundations of decentralised AI, finance and web3.0 infrastructure. + +"*I'm likely to see a bear market or dip soon"* but who cares? + +The short-term dips won't matter in 5 years time! + +*"These kinds of gains take years in the stock market, and I've seen them in less than a year".* I was naive, waking up to my portfolio at higher highs every morning. + +# -8% + +**That's my portfolio today.** + +All those unrealised gains, lost. Everything that was once beautiful flourishing green, is red like the blood of a slaughtered goat. + +I considered selling some of my gains at the top, but I was too greedy. I wanted more. Had I taken some profits, I would've had the opportunity to buy in at much lower prices. + +# What am I going to do? + +**I'm still HODLing.** But I've decided during the next bull run, I will take profit **(nothing massive, the initial investment or less)** and hold those funds in wait for a significant dip. The dips do come and will come and I think it really benefits your mental health to be able to take some amount of profit. +Made my first trade of all time yesterday. PAYC is a local company in my area and I know they have been doing really well and are hiring more people so I expected positive growth in their Q2 Earning statement. I bought 5 shares of PAYC @ 101.7125 and today it opened at 115.51. +Please utilize this sticky thread for all general **Bitcoin** discussions! If you see posts on the front page or /r/Bitcoin/new which are better suited for this daily discussion thread, please help out by directing the OP to this thread instead. Thank you! + +If you don't get an answer to your question, you can try phrasing it differently or commenting again tomorrow. + +[Join us in the r/Bitcoin Chatroom!](https://discord.gg/qE3rWBRNqh) + +Please check the [previous discussion thread](https://www.reddit.com/r/Bitcoin/comments/lps475/mentor_monday_february_22_2021_ask_all_your/) for unanswered questions. +I'm not a newcomer, but I'm definitely an amateur. Been doing this a few years, but only recently started paying attention to things like dividends, especially with the recent downturn. I know dividend investing isn't popular around here, and with good reason considering the amount of yield chasing that occurs when people start looking at just dividends. + +For me, I have some difficulty pushing money into index funds. I know they are super popular around here and with very good reason. However, when the market drops, it causes me a huge amount of anxiety because all the gains are only on paper. Furthermore, I struggle with the idea of only taking out gains when I'm 65. I want to live now, and not end up traveling the world with bum knees and a bad back at 72. + +My thought is to take all the money I could possibly spare out of weekly income (i.e. everything that's not totally necessary for life itself, like rent), and pushed it into monthly-paying dividend ETFs. For example, SDIV and PFF. Then mail the biweekly dividend payouts, and start using them in day-to-day life. From a lifestyle perspective, I'm giving myself a raise every month, and the instant payoff helps me to actually push money into these investments. From an investing perspective I'm saving a lot of money very fast. It might seem annoying to push money around like that, but the psychological benefit to moving my lifestyle onto investment dividends on a gradual basis is pretty high. + +On to my questions. + +1) Is anyone else doing this or anything like it (structuring their investments to achieve financial independence on a slow slope rather than an abrupt future event)? + +2) Where are the problems with investing money in moderate-paying low-expense dividend ETFs? I'm having a tough time finding much information on income investing in general, and dividend ETFs seem to be a bit of a rare breed. Most folks doing income investing seem to like picking individual stocks but I feel quite unsafe doing that. + +(I understand my money will grow faster in Vanguard funds, but for me the psychological safety of taking safe gains on a continual basis helps me to sleep better at night.) + +I picked SDIV and PFF as examples. SDIV is pretty volatile and has heavy financial and mREIT exposure, but seems spread out over a fairly broad spectrum and the recent market tumult has not beat this down particularly hard. PFF is more stable, and although it too has heavy financial exposure, I think the underlying preferred stocks give it a degree of insulation. These examples would be choices early on while maximizing returns, but I'd move to lower-yield safer funds once I've accumulated enough to warrant playing a safer game. +It's a $25 Save the Cloakmakers Union Bond of the State of NY issued in December 1928. I'm aware it might not be worth anything, but I figured it couldn't hurt to ask. +Maybe because we just got paid and we're already back in the negatives...I'm just down. I'm struggling to keep working enough to afford to live and have the basic necessities and struggle with my mental health. If I could work part time until I became fully off the phones, that would be perfect. I like my job when I'm not on the phone. + +It's stressful not knowing if you'll be able to afford rent this month or if you have to add it to a credit card and keep going in the negatives until you've drowned. Ironically, the more stressed out I get, the less I want to go to work. Don't know how that happens though. I can only sleep with sleeping meds and it's getting to me. + +Most days, I'm okay. But for some reason this week has hit me harder than usual with how poor we are and how I can't do this alone. I'm making more than I ever had but medical bills are killing us and rent is high everywhere you go. I thought about roommates but I don't trust people enough for that after too many bad experiences with roommates. + +Where's the light at the end of the tunnel for people like us? For those that are physically and mentally unable to reach and get those higher paying jobs? For those of us who are trying so hard every damn day and each day it just gets worse. + +I don't really know what this post is. Maybe others get what I'm trying to say. I just know I'm exhausted. +Don't put yourself in a situation where you're upside down on a car loan! Ever! It seems like almost everyone that's in a tight situation has a car with too high of a payment that they can't get out of. Quit doing this! If you can't put enough down, with a short enough term, to stay ahead of the depreciation, you can't afford the car. Don't buy it. +The coffee giant earned $0.46 a share, edging out the $0.45 that was expected. Revenue jumped 11.9% to $5.37 billion, missing the $5.39 billion that Wall Street was anticipating. Comparable sales surged 9%, and traffic was up 4%. CEO Howard Schultz said this was "by far" the best holiday season in the company's history. Shares of Starbucks were down 3.6% before the opening bell. +I'M GOING TO GET MY STUFF TOGETHER AND MAKE A NEW POST. WITH MY FIANCE EXPENSES AND EXACT NUMBERS. Thank you everyone for the help, your are amazing!!!!! + +I have 1k in credit card debt and I would like to pay it off as quick as possible. Also have a Amazon credit card with $100 but I pay it off every month. + +Car payment: $320.41 + +Car insurance: $195.83 ( it was cheaper to keep my old car on the insurance) + +Phone bill $303.27 (2 phones 1 watch) + +Spotify:$10.00 + +Gas $30.00 (every two weeks) + +I do not pay rent at the moment. + +Groceries: $150-$200 hopefully +(I recently had a falling out with my mother so I will no longer be feeding 4 other people, Just me and my SO.) + +I bring home around $800 to $700 per paycheck. My SO finance are horrible 15k+ in debt. He brings home $900-1k per paycheck. At this moment I am trying to figure out what I need to get done before dealing with his mess. + +By the end of January we would like to be on our own place. We are looking to pay 800 or less for apartment. I was looking into apartment assistance programs but my stepdad dad say we make too much, it this true? I have clue where to start looking for something like that. + +F-22 M-26. +I will add anything if I missed anything and sorry for the bad grammar. +Growing I was never really thought the importance of 401 or that I should have it but it wasn’t until late that I realized it was something of significant importance. Currently I have little to nothing in my 401k but figured since I do instacart on the side, I can use that money to put towards my 401k but I know that unless it’s through your employer you can add money +On your own to it. So other than my work 401k, is there something else like a 401k that I can contribute my own money aside from a savings account where the money will grow and I won’t be able to access it until later on? + +Just as a note, I do have 401k through my employer +I don't know if it's because of the locations, but it seems like there's two types of shows: butterfly collectors married to stay at home moms with million dollar budgets and million dollar lottery winners with 200 to 300k budget. + + Do you think some of these shows portray different mentalities of American families? It seems like one show is all people living above their means and another are all below their means and planning their retirement without it ever being stated. Or again maybe it's all locations, rural vs urban environments, salary differences and cost of living differences. +If this is the wrong subreddit I apologize but I need your help. A dear family friend recently moved from an apartment on the 16th floor to a different apt on the 10th floor of the same building. This happened 2 months ago. The issue I have is that the building managers have forced him to pay rents for BOTH the 10th and 16th floor. For 2 months going on 3. How is this possible? If it helps we are in NYC and the building in question is a co-op. Please help thank you. +Long story short, mom died, left a ton of debt, refinancing will get us a better interest rate + allow us to pay off any debts we may be liable for. We can also get out of our mortgage with NewRez, which I have read is a bad company. + +A 30 year fixed rate mortgage has an interest rate of 3.000% and an APR of 3.063%. Does that seem like a good deal? + +We are currently working with an originator recommended by a longtime family friend, but he's trying to push my dad out of using Amica insurance, which my mom and dad have had for over 30 years. I'm not a fan of him being so pushy like that. That's a reason why we are looking into the local credit union instead. We want to keep Amica insurance. + +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. + +Consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. + +Iv had a payment come to me of about 100k , I'm in my late twenties and would love to hear hot tips for young players regarding what best to do with said money to grow it or use it wisely. + +Looking for suggestions other than the property market etc +Just finished my master's program, I worked full time during and am walking out of my graduate studies debt free. However, I don't have any savings to my name. I live in the Bay Area, and so my living expenses are not cheap - but what % of my income should be saving? +I know nothing about investing, but I want to be wise about where I put this unexpected windfall. Can I double this by next week? I figure I can have at least a $100,000 by the end of spring with some good placement, I just need your help to tell me where to put it. +My 100x for 2021 has to be HPB. Everyone keeps going on about ETH 2.0 and how this will solve all sorts of issues, but very few people are aware of a working mainnet that is effectively ETH 2.0 that’s here right now. + +HPB has verifiable tps of 5000+ tps per second, has average gas fees of $0.001 per transaction, has an on-chain hardware-driven random number generator, smart contracts are written in solidity and deployed with remix and the blockchain is fully EVM compliant. Like I say, it’s pretty much ETH 2.0 but it’s here now on a working mainnet. + +It has a cross chain DEX, a token swap DApp is about to launch, it has HPB17, one of the most unique and addictive DApp games in any blockchain, and it has ESR, exclusive to HPB. + +It’s one of the most technically-advanced blockchains out there, and as far as I know the only one that combines dedicated hardware (Blockchain Offload Engine card) running in nodes, specifically for blockchain to ensure the high tps speeds. It’s also the only one I know of with a provable hardware-based random number generator, as opposed to Ethereum and BSC that need to call off-chain oracle services for the same thing. + +Speaking of BSC, the HPB blockchain has 4x as many active global nodes, so is far more decentralised than BSC as well. + +I challenge anyone to share a more well-rounded, working blockchain that has all of these features. + +Mcap is ridiculously low at the moment. With more details of ESR coming next week (exclusive to HPB) I would say that its time for a big price move with this one. +\#HODL is a passive income ecosystem built on The Binance Smart Chain Network (BSC). Our ground-breaking contract delivers a revolutionary mechanism to #BSC ecosystem: Earn sustainable $BNB and reflections just by holding. Not only that but our token is underpinned by the greatest brand name in crypto and a series of innovative products that our holders can enjoy in order to generate more passive income. At HODL we believe in a future where personal finance is more lucrative, fair, and sustainable for all. HODL is more than a token; it is a platform and community making it easy for anyone to make money by investing in cryptocurrency. Our innovative ecosystem and initiatives are strategically chosen to ensure sustainable income for our holders. Here are some of the key features of our ecosystem: + +* $BNB rewards +* Reflections +* Reward stacking +* Sustainable reward pool +* Automatic LP generation +* Manual and automated token burns +* Anti-dump mechanism +* Anti-flip mechanism +* Tax-free tokens when reinvesting +* Upgradable proxy contract +* Market-leading brand +* Advanced dashboard +* Innovative products and utility +* NFTs sales revenue +* NFT staking pool +* Revenue generation from CEXs +* Our own DEX and reward token - HODLX +* Gaming and play-to-earn +* Betting games with earnings to our reward pool +* Burn Lottery +* Our own meaningful charity + +**Tokens worth holding** + +HODL to earn. Built smart for the future, HODL is a community-driven DeFi project built on the Binance Smart Chain (BSC). HODL is revolutionary and constantly innovating to drive more rewards and value to all holders. It was the first project to reward its holders with BNB and reflections just for holding and has set the record for the biggest payouts of all time. At the heart of $HODL is a highly-innovative smart contract which captures tax revenues from buys, sells and transfers of the token. Our sell bot liquifies these tokens converting them into BNB and then places the funds into the reward pool. By holding $HODL you can collect your share of the reward pool every 7-days and will be sent reflections throughout. + +**Taxes worth paying** + +Engineered to be sustainable and taxes you will love with each transaction; be it a buy, sell, or transfer, $HODL collects a 10% tax to fund a $BNB reward pool to sustainably grow its rewards. Our capped reward pool means your rewards are protected even if volume dips, and are amplified in times of growth. As long as you hold, you will be collecting rewards. + +* 5% of the value of all buys is sent to the $BNB reward pool. All holders can access their share of the $BNB reward pool every 7-days! +* 2% of the value of all buys is sent to holders in the form of $HODL tokens. Reflections are sent continually, so your token balance is constantly growing! +* 2% of the value of all buys is sent to the PancakeSwap liquidity pool, increasing the price stability and ensuring that anyone who wishes to cash out can access their funds. +* 1% Burn Lottery. Simply buy 10 Billion or more $HODL Tokens using PancakeSwap or the HODL DEX and you will see your ticket in the official HODL Telegram group! The winning ticket will receive all tokens in the lottery pool, with the remaining 30% burned, making HODL hyper-deflationary! + +**Investments worth reinvesting** + +With HODL reward or reinvest options, you have the power to make your rewards work for you; reinvest your rewards into additional $HODL, claim $BNB rewards directly back into your wallet, or request a combination of both - every 7-days. + +**Reward pool worth sustaining** + +The BNB reward pool uses an adjustable cap to ensure it is sustainable, safeguarding rewards when volume decreases and creating a sustainable and long-term source of passive income for all holders. + +**HODLers worth protecting** + +With the anti-dump mechanism, there is a maximum sell amount of 250B $HODL tokens, per address, per 24 hours in order to reduce the impact of excessive dumps and support the underlying principle of HODLing for maximum gains. + +**Rewards worth stacking** + +$HODL Stack is the market-leading reward stacking technology, allowing small investors to stack their rewards to ensure their claims exceed the network costs + +**Exchange worth farming** + +HODLX.exchange is a totally decentralized exchange with staking pools and farms where you can stake $HODL, our DEX reward token $HODLX, and earn $HODL, $HODLX, or partner tokens! + +**NFT’s worth minting** + +HODLhands are set to turn heads in the NFT space, you'll be able to stake them to earn $HODL/$HODLX, access boosted APRs, access play to earn and more! We also have mythical NFT's that we offer a one time reward for minting. + +**Performance worth charting** + +HODLdash.io dedicated dashboard is the best investor dashboard in #DeFi, allowing you to view the performance of your investment, earnings, and key project information! + +**Games worth playing** + +HODLgames.net is a simple DeFi Gaming Network integrated into the HODL Ecosystem. We are bringing fresh games in every few weeks and we have only just begun. + +**Odds worth betting** + +With HODLbet you can currently enjoy two fun games - coin toss and rangefinder - with bets available in both $HODL and our reward token $HODLX, with fees from gaming, are sent to the $BNB reward pool too! More HODLbet games are coming in the future. + +**Merchandise worth wearing** + +During the rise or the fall together we HODL! Encourage others to HODL and spread the word with a conversation starter. HODLstore.io has beautiful merchandise for all HODLers. + +**Coins worth collecting** + +\-(Sorry, we are currently sold out)- Bronze, silver, or gold? Own a piece of crypto history, earn tokens, and support the community. Each beautiful first-edition physical coin purchase also earns you tax-free HODLtokens, from $2K - $10K. All funds raised support the project and the BNB rewards pools for all HODLers. + +**Charity worth supporting** + +HODLforward's mission is to help feed those in need by leveraging $HODL's passive income generation. At its heart, HODL is about community. Our rewards are rooted in the actions and choices of our community members. HODLforward is the way we can share and give back to an even larger community in need. HODL is here to stay; we built our token to bring the benefits of the blockchain and passive income to the masses. The longevity, growth, and security of our HODLers investments are at the core of all the choices we make. + +**Links worth visiting** + +White paper -[ https://HODLtoken.net/whitepaper](https://hodltoken.net/whitepaper) + +Official HODL Website -[ https://HODLtoken.net](https://hodltoken.net/) + +Twitter -[ https://twitter.com/HODL\_OFFICIAL](https://twitter.com/hodl_official) + +Telegram -[ https://t.me/HODLinvestorgroup](https://t.me/hodlinvestorgroup) + +Safu -[ https://www.staysafu.org/audit/HODL](https://www.staysafu.org/audit/hodl) + +Reddit -[ https://www.reddit.com/r/HODLToken](https://www.reddit.com/r/HodlToken) + +Discord -[ https://discord.com/invite/D666jh5C5D](https://discord.com/invite/D666jh5C5D) + +**Addresses worth searching** + +$HODL Contract - 0x0e9766df73973abcfedde700497c57110ee5c301 + +$HODLX Contract - 0xAeBdbcc7d6821E3924EE5167b4138a43c19Cf681 + +HODLhands Contract - 0x7E82123bCb6465133D6E9E1Ad94d0115DE041b3D + +**Mottos worth quoting** + +"We are HODL" + +"Financial freedom for all" + +"Strength, Unity, Resistance" + +"Passive income made easy" +Last month RUBIC was the darling of this sub. It's going to explode in March... Instead it's dropped by almost half. I know HODL...HODL... I get it... but does anyone have any info on why they are dropping so much? I'm tempted to invest more now that it's so low, but also very weary... + +Thanks for any scoop. + Covid-19 is not all negative! there’s always an opportunity in every challenge. Recently, I finally notice a small-cap project but with lots of growth potentials. I read an article about crypto adaption. And a project known as DIVI has many plans for mass adoption. + +Here are some of their cool features: + +* One-click bank fiat bank accounts (USD and EUROs) in our mobile and desktop apps, up to $1500/mo transfer +* One-click fiat-to-DIVI and DIVI-to-fiat, on/off ramps +* Wire transfers within the wallet +* Debit Cards +Their building metadata technology into the blockchain that's ideal for fiat/crypto features. By then, anyone can use it to connect a DIVI or BTC account with a bank account and the keys to access it, so that apps can make easy exchanges in the background. DIVI's goal is to eventually bring fees close to zero, and when that happens, it opens up a new financial world. DIVI is the gateway for normal people to change their DIVI to dollars or to Bitcoin to dollars. A platform that will provide a place for entirely new classes of businesses to emerge. +There is a new gem 💎 that has been listed on Uniswap, Hotbit, Coingeko, Bilaxy and Cointiger they are currently in talks to get onto CoinMarketCap. This coin started off at $14 and is currently at $56 and climbing in one day after listing. Here is a quick run down + +Jan @Cointelegraph press release + +Roadmap is stacked. Only 50k $VRX +$VRX will be required to access the platform. Earn high interest while staking. + +VRX is an AI investment manager for crypto and DEFI aiming to achieve 'above human performance + +AI and Machine Learning to detect the best crypto investments in real time. + +Blockfolio is the portfolio, Coingecko is tracking coins. Verox does coin analysis. + +$VRX Product launch in March. Doxxed team. + +Presale went live and finished in record time (46 days early) selling 35,000 tokens + +Liquidation locked for a minimum of 12 months + +Verox App is from the development team of "upstox pro" app with 5M+ number of downloads on google play.. + +https://www.veroxai.com + +Recommended: Hot Buy +Link to the story: https://www.reuters.com/markets/us/wall-street-regulator-spell-out-push-overhaul-stock-trading-sources-2022-06-08/ + +After the GME/AMC run last year the SEC has decided to overhaul PFOF. This is how companies like RobinHood, TDAmeritrade and Etrade are able to offer commission free trading. In a nutshell, they intend to shut it down. + +Out of one corner of their mouth they are claiming it is for our own good, that our orders are not being fulfilled at the best price because they are able to go to wholesale brokers directly rather than putting them up for auction. This allows them to make a fractional cent of money off each trade, which adds up enough to allow them to offer commission free trading. + +Out of the other corner of their mouth I am hearing that this could put commission free trading out of reach, shutting down the entire business model that allow it to exist. This would drastically tamp down on retail's ability to trade so much, which could make the markets less volatile. + +Really not sure how to interpret it so I ask some of you all who know better what the true intentions are. My interpretation is that it is intended to shut us down to prevent something like GME from ever happening again. And "unintentionally" keeps the status quo on wall street so us filthy plebs stop mucking it all up for the upper crust. For the good of all of us. + +I've posted bits and pieces of this in some comments since some form of the question has come up on this subreddit. I want to list out a list of reasons why today is like the dot com times and ALSO what is different about today. I am not a financial professional, but I have been working in the tech industry for over 20 years. It is mostly tech stock focused. + +I'm going to also add (fact) or (anecdotal) or (opinion) to my bullet points, so take those bullet points with the appropriate grain of salt. + +Reasons we are NOT like the dot-com boom (roughly in order of importance): + +* (fact) Interest rates are much lower now and long term expectations on yield is also low. In 1999, the 10 year treasury was at around 5% and rose to over 6.5% in 2000. The P/E of the S&P 500 in 2000 was around 30. Which means that the 10 year treasury yielded MORE than the S&P 500 earnings. This is absolutely not true today with the 10 year treasury yield being around 0.6% and P/Es being around 25-30. This single point is extremely important to understand. +* (fact) Late stage VCs are more of a thing now than they were in dot com. Thus you have fewer IPOs and the companies that do are more mature and less speculative (of course there are outliers, see below). +* (fact) The NASDAQ P/E in 2000 was really quite ridiculous (I can't find a chart for some reason, i think it was around 80). S&P 500 was more comparable between 2000 and now. +* (anecdotes) You can no longer get a job at a startup / real tech firm just because you know HTML or can write "hello world" in Perl. A lot of firms back in the late 90's were trying to fatten up the employee count and race to IPO to cash out. This doesn't happen today. +* (fact) There was no pandemic in 2000 and it makes comparisons hard. + +Reasons we are like the dot-com boom (roughly in order of importance) + +* (anecdotes) Sentiment on the ground is very similar to what you hear during the dot com boom. We make fun of the people who invest in stupid shit like NKLA, HTZ, etc. But a lot of people are creaming their pants still on the big tech (FAMANG) saying they are forever-holds / they can't go down, etc. You also now are starting to see intelligent, rational people putting money in things **precisely** because other people will and assume they can get out before it all falls apart. +* (fact) In the late 90s, internet brokers were a new thing and made trading easier for people who didn't know anything -- and we see that today with COVID stay-at-homers and an influx of users into robinhood (I wish I could get hard numbers on the comparison). (opinion) Because of this, I'm fairly certain pricing is out of whack for a large number of companies. +* (fact) The P/E ratios of the big techs today are higher than a lot of the big techs during 2000. Nasdaq P/E in 2000 was off the chart, but if you just look at the big profitable companies like INTC, ORCL, AAPL, HPQ, IBM, which were the equivalent of FAMANG today, they had P/Es mostly under 30s. FAMANG are around 35 except for Netflix and Amazon which are much higher (see huge caveat on interest rates above). CSCO and MSFT in 2000 were the outliers having P/Es of well over 60. +* (anecdotes) In tech companies, a common business plan for new firms in the last ~8 years is to get market share at any cost and figure out profitability later. This is really no different from dot com when firms were valued by number of "eyeballs". +* (opinion) "this time is different". At least in terms of technology, it's not. The internet itself was a bigger "paradigm shift" than what we are seeing today. I used "paradigm shift", because was a common buzzword that turned into a joke back in the late 90s and used to justify crazy valuations. Machine Learning is amazing, but not on par with connecting everyone on the globe. And the cloud is just a fancy name for running something on someone else's computer (even though its quite nice how easy and seamless it is today vs. 20 years ago). +* (anecdotes) While it is harder to IPO today without profitability or clear path to profitability, it clearly still happens (UBER, LYFT, SNAP). And others are using backdoor IPOs (NKLA, SPCE). +* (fact) In 2000, the IT sector along with Media stocks and the Telecommunications Services sector approached 40% of the S&P market cap. The categories have changed but if you combine IT and Communication Services sectors, you get a 38% of S&P market cap today. If you add Amazon which is not included in IT/Communication, you get over 40%. Does this mean anything, especially since we are in a pandemic and more stuff runs on IT? Not sure. + +You can definitely pick apart some of the individual points, I just wanted to lay them all out and see what people thought and if anyone has other valid comparisons. I personally think we ARE in some kind of tech bubble, but I'm not going to make a fool of myself in predictions on when and how it will burst. And fuck it, while I do have more in cash than typical, I'm still in VTI/VXUS and a bunch of individual tech names since I have the background to do some analysis on the business. + +I'll end with a few random thoughts: + +* In August 1999, a lot of people were looking at the craziness of the dot com boom and how people were throwing money at stupid shit. I don't care what people say, it was pretty obvious something was wrong. If you shorted the NASDAQ then, you will watch the NASDAQ more than double in 7 months time and have your face ripped off. +* Taking what I've posted as a whole, the one thing to be terrified about is if long term interest rates rise and the fed is either powerless or does not step in for whatever reason. This will completely destroy the stock and bond market. I don't see the catalyst for it, but I'm no economic genius. You might be able to make an argument that gold is a hedge for this unlikely scenario. There is also the worry of a slump in earnings due to general economic malaise, but that is a garden variety concern that everyone is watching for and usually pretty temporary. Rise in interest rates would be real bad. +Hey y'all! Credit for this find goes to /u/Potential-Dog-67 who does not have enough posting karma. Go give him some love! + +What he found is this document which outlines the all-to-familiar by now story or illegal naked shorting: https://www.sec.gov/comments/4-639/4639-7.htm + +The stock in question is SFIO.PK, and the date is October 15, 2011. + +You know, I thought Gamestop is in a unique position, and it is, but the naked shorting abuse has been going on seemingly forever, for decades, the SEC is complicit, DTCC is criminal, etc you guys already know. The ^ found document is short and easy so you should read it. I'll reproduce just a few phrases below: + +"We believe that they are attempting to cover the phantom shares and deliver real shares into customer accounts by way of keeping the stock locked until they can buy enough cheap shares from investors who have no choice but to finally cut their losses... + +"the regulations in place now are very weak and allow unregistered foreign clearing houses to naked short without any consequence as those clearing houses are not even considered in the Reg SHO ruleset. As for the registered clearing houses, all they have to do is simply shuffle a FTD position between their friends back and forth forever while the DTCC protects them from a huge market of buyers by not allowing the brokerage community to allow individual investors to buy the stock, only sell the stock." +The advantage that the current system has over Bitcoin is that it's idiot proof. Bitcoin are only useful to nerds, to the rest of humanity they are sadly too risky. This is not an issue that is truly *impossible* to remedy, but it is nonetheless a big issue, and it remains to be seen whether it will be solved. + +Let's walk over the problems, shall we? + +-Grampa install a new screensaver he found in his email inbox, from an email address he doesn't recognize. The next day he notices his Bitcoin have been transferred to an address he's unfamiliar with. His life savings are wiped out, and Grampa goes back to fiat currency. + +-David has all his money stored on his computer. On a Friday night someone breaks into his home, starts up his computer, transfers all his Bitcoin to his own account, and leaves. The money is gone, and David can't pay for anything. David goes back to fiat currency. + +-Stacey simply forgot her password, and frustrated goes back to using fiat currency. + +If Bitcoin is going to work, you're going to have to figure out a way to make it safe for people other than men who have their hair in a ponytail and work in IT departments. The reason more people are not jumping in right now is because they realize they're too stupid for it, and they're also afraid of looking stupid to their peers if it doesn't work out. You have to be a nerd to understand it, and the one thing nerds are bad at is figuring out how to include non-nerds. + +So, the solution *might* be online wallets, run by central institutes that figure out how to prevent idiots from losing their life savings, prohibits them from withdrawing or sending more than 1000 dollar worth of Bitcoin a day, calls them up when someone tries to withdraw large amounts, and if things *still* go wrong, is willing to pay out to people who lost their savings. + +The problem is that online wallets have a bad reputation among Bitcoin users, because we only hear about them when they get hacked and everyone who stored more than 50 Bitcoin loses his money. These online wallets are not safe, and with so many scandals it will be incredibly difficult to convince Joe Sixpack to put his money on an online Bitcoin account that prevents him from sending 50 Bitcoin to Satoshidice when he's drunk again. + +Hence, my question to you is: What should be done about this? Can this issue be remedied? Bitcoin would not be the first time a good idea fails to work out because it's too difficult for normal humans to use. +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. +My partner and I make a decent wage - about 85k each, and are about to have our third child. One is at school going to before and after care, and the other is in day care. Both full time. We don’t qualify for any more than a 50% rebate for childcare or before and after school care. All up we are currently spending about $500 a week on this, and this will soon go up to nearly $800 with the next baby. + +At that point it doesn’t seem worth it to send one of us to work considering petrol, tolls, lunch, and our own time. Grandparents aren’t an option to help as one pair lives too far away and the others are both still working full time as well. + +How do you guys make it work? + +Thanks. +Yesterday a dormant Bitcoin address transferred funds for the first time after 7 years and it turns out it probably belongs to the Mt. Gox hackers. 2,720 BTC equal to 126,010,161 USD were transferred out of the wallet. The funds have a direct connection to the old cold/hot wallets of the Japan based exchange Mt. Gox that was hacked several years ago. + +[The Whale Alert detected the wallet.](https://preview.redd.it/akppstneson71.jpg?width=1125&format=pjpg&auto=webp&s=4ab73f68fdf6555abd1538f3009295e73c319881) + +Here is the TXID: [https://www.blockchain.com/btc/tx/d2d5f92d23567292a6ec40a911b2dbe9b326abeb4909a5e351a83c36cd580a65](https://www.blockchain.com/btc/tx/d2d5f92d23567292a6ec40a911b2dbe9b326abeb4909a5e351a83c36cd580a65) + +&#x200B; + +[The hacker wallet movements on the blockchain.](https://preview.redd.it/ag0g914bton71.jpg?width=2048&format=pjpg&auto=webp&s=8b4ad2ecb96da891707873461b1ed4855edc96be) + +&#x200B; + +https://preview.redd.it/e4c2o96lton71.jpg?width=1892&format=pjpg&auto=webp&s=4f4dcb0b9ae6c4567f5fd66ce349669a7614acd4 + +Most of the funds will probably never be sold since large amounts require KYC nowadays at exchanges and the funds can be tracked/linked directly to the hack, which makes them "dirty coins". The sudden movement after 7 years seems odd, it could be due to prison time, cold storage re-organising or a lost wallet found again. Here you can check the wallet movements from Mt. Gox to the hackers on the blockchain yourself: [https://explorer.crystalblockchain.com/visualization/ZtCKHMmpD672LZ73?x=-239.49240112304688&y=-402.4735412597656&k=1.3195078372955322](https://explorer.crystalblockchain.com/visualization/ZtCKHMmpD672LZ73?x=-239.49240112304688&y=-402.4735412597656&k=1.3195078372955322) +So I'm in the beginning phases of looking at homes to buy (like I'm just going to open houses in my budget to set my expectations). One of my parents sent me a listing on zillow that was above my projected budget. So I said that my SO and I are looking for a starter home we could theoretically afford on one income (we can get a small but nice house for that). And this is the advice I got.... + +"But you're double income no kids, you can afford more and why move into a house that you are just going to outgrow anyway." + +A. We might not be no kids in a few years + +B. Though we plan on being double income for the foreseeable future we have learned that sometimes life throws you a curve ball + +C. We have other debt + +D. This is the exact kind of attitude that leads to people being house poor + +Just a rant + +Edit: Thank you all for your advice and support! Few things: + +1. we are looking for a place with at least three bedrooms (room to grow if our family does) + +2. Many of you have convinced me to get a house in the upper range of what i can afford on one income (to reduce the liklihood of moving) +I am a childless 43 year old woman who have two nieces, 4 and 8. I want to leave a legacy after I pass when I pass. I am working on improving my career and save more money. I earn 15 per hour. I am healthy and want to live for a long time. I don't know how to get started. +I have recently discovered on my credit report several cards that aren't mine. I have spoken to my mum about it and she has come clean and agreed to co-operate and try to have the debt changed to her name (which I think is unlikely to be possible) + +However, I can't imagine it's as simple as reporting it to the credit agencies and they will just 'move it' into her name as such. + +I'm from the UK so how do we go about resolving this now? Is a police report necessary and what will/could that lead to? + +Appreciate any help. +Welcome to the Daily Altcoin Discussion thread of /r/EthTrader. + +*** + +The thread guidelines are as follows: + +- All sub rules apply here so please review our **[rules page](https://www.reddit.com/r/ethtrader/about/rules/)** to become familiar with them. The rules page is also linked in the announcement bar above. +- This thread is intended as a welcome place for discussion of all non-Ethereum related crypto. + +*** + + Resources and other information: + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! + +EDIT: To be clear, I'm going to the ETH event at Coinbase where VB will be speaking. + +Let me know what questions you want asked. The best ones / ones with most upvotes I'll submit - assuming there is a Q&A. + +The only question I'm going to ask is, "Is Coinbase considering expanding it's business to list other blockchain assets / tokens"? + +I don't think they would answer a direct question about ETH, otherwise I'd ask that. Of course, if they say anything about ETH I'll post it. + +Also, if you will be there, PM me. + + + + +As many of you might know, I'm pretty heavily against technical analysis. I thought maybe I'd expound upon that a little bit, and explain my views on why I think it is so dangerous. First off, my background: Masters degree in Financial Mathematics and a prop trader for 6+ years now. My schooling was literally spent learning random walk theory and quantitative trading strategies. I have spent 6 years seeing enough crazy shit in the markets for one lifetime. Trust me when I say this: it does not work. + +The most obvious way to evaluate whether or not it works, and this requires zero research/analysis is to ask yourself, what professional trader uses this? The answer is no one. Not a single successful trader I've talked with in the past 6 years has said to me "oh yeah I trade based off the lines I draw." Today, there are several competing trading strategies. One is algorithmic trading. They leverage their speed/execution, and utilize very micro-level correlations. (If X traded up on the offer, buy Y and sell X on a rally, assuming X and Y are correlated). Another is fundamental (Jobs report came out positive, meaning the Fed is likely to raise interest rates, so let's bet on a flattening of the yield curve). Another is what's called scalpers. This is as close to TA as you'll come but really only useful on a VERY short time scale. Scalpers find TEMPORARY imbalances in supply and demand. Stock is trading $10, positive news comes out, quickly starts rallying, sell a bit at $11, more at $12, a LOT at $13, and try to cover all at $12. The levels they choose to start selling (and amount sold at each level) CAN AND OFTEN IS dictated by Technical Analysis. Sometimes traders go off of feel, but sometimes a nice pretty trend line can serve as a visual cue for where they would like to enter and exit a position. Keep in mind, this is COMPLETELY different than the way traders in this sub have chosen to utilize TA. + +Next, people need to evaluate the relative impact of fundamental analysis. A stock price which goes +/- 2% a day is NOT likely to be impacted by fundamental analysis on a day to day basis, which means all short term price fluctuations are noise, or imbalances in supply and demand, and TA is MORE likely to be used/useful (yet still ultimately garbage). Traders need to make a buck somehow, and they'll try anything, but ONLY if the situation is safe enough to try it. Ethereum is NOT that safe asset. Ethereum price fluctuates by 0-99% a day. And now this next part is the one that's very important + +Divvy up the asset price's fluctuation into these 2 categories: Fundamentals and Short term Supply/Demand. In my mind, Ether price is dictated somewhere along the lines of 75% fundamentals and 25% Supply and Demand. What's the difference between these? What I mean is, positive news comes out and the price explodes, but then a day later, in the absence of ANY news, the price starts to taper off, due to profit taking (i.e. short term change in demand). Now within the 25% of Supply and Demand, you have to assign a percentage impact of technical analysis. In my mind, that could be maybe AT BEST 50%. Meaning when whoever wants to buy or sell, at best half the time it could make sense according to some arbitrary lines or indicators. Which means, based on the numbers I've chosen for this exercise, technical analysis has at BEST a 10-15% predictive power over the price of ether. That is MINIMAL. + +Traders, in THIS market (contrary to the stock price that barely nudges up or down) need to be paying MOST attention to what affects the asset's price the MOST. That is clearly the fundamentals. This is a revolutionary technology that POTENTIALLY could take the world by storm. The fundamentals will take us to the moon, not your support line. + +A few weeks ago, all the short sellers got caught in a plethora of positive news. Microsoft endorsement, Slock.it partnership with RWE, Bitfinex rumors, and on and on. The short sellers got decimated. Yeah when NOTHING was happening, they could make a buck here or there, but this PARTICULAR asset is driven largely by fundamentals, which I shouldn't need to mention are completely random and unpredictable. Now, I'm seeing traders fall into the same traps again. We just passed homestead, we're getting media coverage, firms are interested (i.e. REAL fundamentals at play), and you clowns are playing with a box of crayons. This is why people warn against day trading from home on their Schwab account. Most people don't do it properly. + +Now, why the fuck do I care? Why am I so angry about this all the time? Because I actually care about people maximizing their chances of making money. I literally want not only Eth to succeed, but the traders on this sub to profit as well. Unfortunately the reddit format lends itself to the loudest (not the smartest) traders being heard, and it just really irks me. Traders on r/ethtrader and r/ethereum are the front line foot soldiers right now. We need to be successful and help each other. We need to spread the good word. We're price discoverers, and we need to prepare ourselves as best we can. +https://community.coinbase.com/t/can-we-talk-about-the-unannounced-fee-structure-increase/15099 + +My post to the coinbase community forum. Forum is low activity so I encourage you to go on and chime support to raise awareness. + +https://www.np.reddit.com/r/CoinBase/comments/6c6hrx/fee_increases_for_small_transactions/ + +Thread that brought me on to it. + +I don't use coinbase, nor CC/bank buys to acquire eth. I do however use coinbase gdax exchange so I feel invested as a customer. + +Apparently a silent increase of fees for buys under 100$ was implimented recently. Apparently a 1 dollar transaction now carries a 0.99$ fee. This is devasting to people who buy small pockets daily/hourly to cost average. + +Even if this is a necessary change for coinbase's operating structure, the fact that it was done unannounced, and as far as I can tell, has not been announced anywhere so far, is Horrendous. + +I don't know the coinbase teams Reddit usernames, but if anyone does I encourage you to tag them. + +Looking for a response or more details, will update post as they arrive. +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. + +It doesn't sound like a lot. But I needed it. I had it in a little coin purse that I normally keep in my car for use when filling water bottles or little things that very small amounts so I don't have to put them on my credit card and add to the debt. I'd just emptied the last of my coin jar into it to refill it before going out. I forgot to put it in my glove box and sometime in the morning, while out on errands, I lost it. + +It's a small amount, I suppose. It won't cause me to go hungry. But it still hurts when you don't have anything to replace it with. Been a really crappy week, and this was just a little jab that made things even worse. + +/vent +For those who missed the 2017 cycle, there was a similar massive drop in 2016 and people were having major FUD thinking bear season is upon us. But soon after that not only BTC recovered but it reached ATH and then the bull cycle went on for another year. + +This 40% seems bad but people clearly aren't scared, look at the amount of in-flow money in stable coin in exchanges. + +This is precisely how a bull cycle gets strong, upon a dip and it doesn't faze the investors. Only makes them that much more greedy after it recovers. + +For those who experience this for the first, this is a powerful brain connection they will make that dip is a discount season and not bear season. +So I've just received a new debit card for my TSB Cash account (old one expiring soon) and I've noticed this one doesn't seem to be contactless. + +According to the pamphlet that came with it, contactless cards are subject to status. I can understand that, but I'm a 30 year old housewife/mum and I've used the previous contactless card for the past few years without any problem. + +There's been no change in my financial circumstances and the cash account doesn't have an overdraft and I don't have any personal debts, loans or credit cards in arrears. If anything, I've increased my use of contactless since the pandemic as it's more hygienic and convenient. + +Just a little perplexed that I used to have one and suddenly they've decided I'm ineligible. Would anyone know why this could be? +Hi everyone. Throwaway account. I'm 40yo, married with two kids. Stable job and earning £70k/year. Got around £40k on savings but never invested a penny since 2009, as I'm pretty adverse to risk - back in 2008 I spent £2,000 on stocks that turned into £15 in less than 2 years. So I guess that traumatised me "a bit". + +I'm willing to overcome that trauma and take the next step but I always wonder what it should be. I've read many posts from this incredible sub but it seems that my insecurities prevent me from taking that step. + +Any idea(s) on what I should do to maximise my earnings and plan for retirement? + +EDIT: Forgot to mention that my pension scheme is topped-up every month with £600 (£300 me, £300 my employer). +Hi everyone. Throwaway account. I'm 40yo, married with two kids. Stable job and earning £70k/year. Got around £40k on savings but never invested a penny since 2009, as I'm pretty adverse to risk - back in 2008 I spent £2,000 on stocks that turned into £15 in less than 2 years. So I guess that traumatised me "a bit". + +I'm willing to overcome that trauma and take the next step but I always wonder what it should be. I've read many posts from this incredible sub but it seems that my insecurities prevent me from taking that step. + +Any idea(s) on what I should do to maximise my earnings and plan for retirement? + +EDIT: Forgot to mention that my pension scheme is topped-up every month with £600 (£300 me, £300 my employer). +Bouncing off the post asking about the best online bank to get, I didn't notice anyone saying anything about Revolut. + +Was wondering if no one uses it? I've been using Revolut for around three years now and not had any issues. +Dlauer, in essence said… Approaching Congress, who profits largely from what the financial system has become, and asking them to change the laws, by which they make large profits, is never going to happen. + +Yes Dave, Apes buying, hodling and DRSing will bring about the real change, the Apes version of The Great Reset. + +A Purple Ringed Revolution, initiated by rich Apes and poor Apes, by old Apes and young Apes! Apes of every country, creed and color! +This World will be one, giant, Purple Ring! We ALL Own This Mother Earth! +Dlauer, in essence said… Approaching Congress, who profits largely from what the financial system has become, and asking them to change the laws, by which they make large profits, is never going to happen. + +Yes Dave, Apes buying, hodling and DRSing will bring about the real change, the Apes version of The Great Reset. + +A Purple Ringed Revolution, initiated by rich Apes and poor Apes, by old Apes and young Apes! Apes of every country, creed and color! +This World will be one, giant, Purple Ring! We ALL Own This Mother Earth! +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. +As the title suggests, I learned years ago that doing the bare minimum is really harmful many times. Doing too much isn't much better. I've been doing a lot better since I started my new job as a tow truck driver, and wanted to share what I found. I do quite a few tire changes and jump starts these days, and ended up buying my own tools for the job. My truck came with the bare minimum viable tools and it held me back significantly. It's a long one, and I'm sorry. It took me years to finally break down and start investing more in myself and my job. I hope this helps someone. I hate struggling and watching others struggle. + +This has been the most expensive job I've ever had, but also the lowest stress. I spent over $150 on reflective safety clothes, when the guy that trained me wore work pants and a tank top. He came off as unprofessional, I came off as very professional. He ended up getting reflective shirts later too. The company doesn't provide clothing, and it was very expensive, but worth it. When I'm on the side of the highway at 3am, or even 5pm, I know there's a very good chance people can see me as they speed by. I wouldn't do this job without the reflective shirts. I also invested the extra to get the long sleeve shirts to keep my arms clean and safe. I'm the only one who wears long sleeves. I got steel splinters from the winch cable stuck in my forearms, as well as fiberglass. That took about a week to get out. The extra money for the proper clothes has eliminated a ton of stress and extra risk. + +I bought cheap leather gloves to get started, and they've been surprisingly good. If you know how to spot quality, brand doesn't matter. If you get the right too for the job, it just makes the job that much more pleasant and safe. With gloves, I happen to know what materials and stitching to look for. Light duty welding gloves with the long leather cuffs are great for protecting forearms from winch cables, broken windows, and sharp metal edges on the tow truck bed rail. + +The biggest reason I recommend spending a little more to improve your situation or job is to help conserve time, energy, and limit frustration. I spent $600 on a Ryobi tire pump, 4 large batteries, their big brushless impact driver, a waterproof case, industrial tire pressure gauge, and some high quality air hose fittings for the tire pump. I also got some decent impact rated sockets to cover every size of lug nut I could find. Before I had any of these tools, I had to do everything the hard way with the tools provided to me. To change a tire before, I had to drag out the giant jack, the handle, and a 4 way tire wrench. It was incredibly exhausting to inflate or change a tire and I dreaded those calls. I bent the steel tire wrench on a really badly rusted lug nut and hurt my arm and hand a bit. It took forever and stressed me out, especially when it's unbearably hot out, on the side of the highway. Now I really enjoy tire calls. The tire pump clips onto the tire, I set the desired pressure, hit start, and walk away. It stops when done. The impact can get a tire on or off in just a few seconds, instead of about 10 minutes. I can also use the screw jack with the impact gun, and can get a car up and down in just a few seconds. + +If $600 seems like a lot of money, it is. It was hard to justify, but has been worth it. I've gotten so much money in cash tips on tire calls since buying the tools that I've almost made the money back already. I got $100 cash tip, on top of my usual pay for a single tire service call one weekend. It took me about 20 minutes to get it done, and they were so impressed they handed me a $100 bill. When you have to struggle with sub-par tools and techniques, it makes you look unprofessional. It was so embarrassing struggling to change tires, sweating in front of people who just want to get home and off the side of the road. The company wouldn't supply the tools I wanted so I bought them myself out of my first pay. I use them on the job, to service my tow truck, and on my personal projects. I also try to get tools that can be used either to make money on the side, or that will get constant use. Tools are my favorite investment these days. When I have enough tools and my truck ready, I can take my own service calls and make more than I do with my day job. I can get my work done faster, safer, and with less stress, which means I can put in more hours and make more money, which is helping me dig my way out of poverty. + +Hope everyone is ok. I'll try to answer questions when I can, but am usually working, sleeping, or doing chores. +Frequent questions here have to do with price gouging and corporate profits, especially during recessions. I've tried to answer a few. + +Theoretically, of course, profits tend to zero in a perfectly competitive market, but markets aren't theoretic, and there are profits. So how should I understand/explain the FRED graph of Corporate profits after tax ([here](https://fred.stlouisfed.org/series/CP)). Is it saying that corporate profits have shot up over the past 70 years? How is this graph best contextualized? For instance, comparing with GDP (indexed to 1970, [here](https://fred.stlouisfed.org/graph/?g=RCC0)) or personal consumption income (indexed to 1970, [here](https://fred.stlouisfed.org/graph/?g=RCC4)) suggests that profits tracked GDP most of the time, but something changed in 2003 and 2020 - is this right? Is GDP a fair comparison to contextualize the data? What changed in 2003/2020? +let's say we put 90% of the worlds wealth in winning stocks. let's say these stocks will go up 1000% each and then we sell everything. + +I am wondering, how would the world react to this? I mean let's say we started with x money then all of a sudden we have y money that's seemingly just come up from nowhere? how would that affect the world economy? Maybe this is just a stupid thought that has a simple answer but I am curious +(Economic history question but hope this fits here.) + +If i'm not mistaken, today most nations use a combination of market allocation and government planning in determining the use of resources. + +How far back in time does market allocation go? + +Did market allocation exist or play an important part in resource allocation in pre-industrial nations? + +What was the method of resource allocation before markets? +Inflation was only 2.4%. + +Unemployment was lowest in 30 years + +Why would the Bank of England raise interest rates from 0.5% to 0.75%, especially with Brexit around the corner? +I have a list of short books that I found were recommended on the internet, but I have no idea if it's a good idea to read these old authors. In math some people recommend Elements by Euclid or the book with the same name by Euler. Sure, these two guys were incredibly intelligent and influential, but we have modern means of teaching now, and some things changed about how we teach math. Does the same apply to economics? + +Here's a list: + +John Stuart Mill - Principals of Political Economy + +Keynes - The End of Laissez-Faire: The Economic Consequences of the Peace + +Marx - Wage Labour and Capital & Value, Price and Profit -> Das Kapital + +The Anti-Capitalistic Mentality by Ludwig Von Mises + +Economic Policy by Ludwig Von Mises + +The Law by Frederic Bastiat + +The Vision of the Anointed by Thomas Sowell + +Intellectuals and Society by Thomas Sowell + +The Quest for Cosmic Justice by Thomas Sowell + +The Theory of Money and Credit by Ludwig von Mises, Harold E. Batson + +The Ascent of Money: A Financial History of the World + +&#x200B; + +Or should I just pick a modern economics textbook on micro or macro economics? +Prefacing this by saying I don't know so much about economics so please go easy on me. + +Economists seem to overwhelmingly favour eliminating corporate taxes. As I understand, the reasons behind this tend to be that they're rather easy to avoid, and shift tax burden towards the cost of labour. I can sympathize with the idea that the status quo with multiple-deductions and rather easy profit-shifting isn't great, but I'm not convinced the proposed alternative will be much better. + +Here lies my query: Wouldn't a 0% corporate tax just lead to people "incorporating" themselves and claiming spending as business expenditure, thereby bypassing income tax? + +[/u/RobThorpe](https://www.reddit.com/u/RobThorpe/) explained the issue very well [here](https://www.reddit.com/r/AskEconomics/comments/5rtsbo/are_there_any_positives_of_corporate_taxation/): + +>One problem is so called "closely held" businesses. Let's say that I do business as a sole-trader, I don't incorporate my business as a firm. I employ many people and make a lot of money. By not incorporating I'm not liable to pay corporation tax. I'm only liable to pay income tax on my earnings. Suppose that corporation tax were reduced to zero. In that case I could incorporate my business at no cost. This is not a problem so far. In fact it puts small businesses on a level pegging with larger ones. +The problem here is that I can use the firm to remunerate myself directly and side-step income tax. I could, for example, buy my home computer through the firm for business use, but also use it for personal use. Every small businessman I've met does that. There are dozens of ways that I could push my personal expenses onto my firm. It's not fraud if I own the firm completely. Additionally, I can modulate my net profits to reduce my income tax and capital gains tax bills. I can invest in years where my income tax liability is high and take profits in year's when it's low. +For sole-traders the income tax laws usually regulate these things, but for firms they may not, or may not do it so well. If there's corporation tax then any oversights in the rules are not so important. That's because many businesses owned by one person will remain unincorporated to avoid corporation tax. +There are special laws on so-called "closely held" corporations. Those address some of these issues. If there were no corporation tax then they would be more important. +My description here tilted towards the UK & Irish situation because that's the one I understand the best. The short answer is.... If corporation tax were removed then the rules on many other taxes would have to be very carefully thought through and implemented. If they were not then it would open up the way for a lot of perfectly legal tax-avoidance. + +Some people propose a policy similar to that in Estonia, where only dividends are taxed (20% in the aforementioned case). It's a clever proposal, but it doesn't alleviate the issue of self-incorporation. It does however at least hit the people raking in the most cash. Couldn't it just cause businesses to hoard money however? + +I was personally thinking about taxing revenue at e.g 5% instead of a higher tax on profits. As I understand, this will hit supermarkets and other higher-turnover (did I use that term correctly?) businesses. This will shift costs to consumers. I don't think is is necessarily a terrible idea however, as being able to hit tech-giants and other big business with a 5% tax will produce more than enough revenue to implement stuff like UBI/NIT/other dividends to boost consumer purchasing power. + +So yeah, is abolishing corporate taxes (on profits) a good way to go? What are the alternatives? Would taxing dividends/revenue be a viable alternative? +Disclaimer: haven't a clue about economics but Ive read that Ireland has the 3rd highest GDP per capita in the world. Despite this, nobody has a good thing to say about Ireland's economy (I live in a rural area) so I'm a bit confused. +Apologies if this isn't a good question or isn't appropriate for this sub. +Having trouble settling a discussion a friend and I are not well educated on. He told me about a podcast (maybe youtube interview can't remember the format) about someone stating that inequality is so natural that not only does it always emerge no matter what the economic system is, but it is completely undeterred/unimpacted/unaffected by policies because they are incapable of meaningfully reducing it in any way. + +I disagreed and said though to some degree it is inevitable, countries with lower levels of inequality could probably attribute some of this directly to their policies that sought to reduce inequality. We are both open to doing some reading on what literature has to say. + +My question is: Are there some foundational books or studies that address how policy can deliberately impact (or fail to impact) income inequality outcomes? + +EDIT: + +Thanks for the responses. Are there books that make a strong case for the opposite 'the severity of inequality can't be controlled by system/policy'? + +My friend has mentioned "The Great Leveler: Violence and the History of Inequality from the Stone Age to the Twenty-First Century (Walter Scheidel)" as the book he initially heard being referenced. I'm curious if anyone has read this book or other works by the author. +> 2. Tariffs. Same story. Here’s the way I understand the history of the international auto industry – anyone who knows more can correct me if I’m wrong. Automobiles were invented in the early 20th century. Several Western countries developed homegrown auto industries more or less simultaneously, with the most impressive being Henry Ford’s work on mass production in the US. Post-WWII Japan realized that its own auto industry would never be able to compete with more established Western companies, so it placed high tariffs on foreign cars, giving local companies like Nissan and Toyota a chance to get their act together. These companies, especially Toyota, invented a new form of auto production which was actually much more efficient than the usual American methods, and were eventually able to hold their own. They started exporting cars to the US; although American tariffs put them at a disadvantage, they were so much better than the American cars of the time that consumers preferred them anyway. After decades of losing out, the American companies adopted a more Japanese ethos, and were eventually able to compete on a level playing field again. + +> This is a story of things gone surprisingly right – Americans and Japanese alike were able to get excellent inexpensive cars. Two things had to happen for it to work. First, Japan had to have high enough tariffs to give their companies some slack – to let them develop their own homegrown methods from scratch without being immediately outcompeted by temporarily-superior American competitors. Second, America had to have low enough tariffs that eventually-superior Japanese companies could outcompete American automakers, and Japan’s fitness-improving innovations could spread. + +> From the perspective of a Toyota manager, this is analogous to the eyeless alien story... + +> From the perspective of an economic historian, maybe it’s a group selection story. The various stakeholders in the US auto industry – Ford, GM, suppliers, the government, labor, customers – competed with each other in a certain way and struck some compromise. The various stakeholders in the Japanese auto industry did the same. For some reason the American compromise worked worse than the Japanese one – I’ve heard stories about how US companies were more willing to defraud consumers for short-term profit, how US labor unions were more willing to demand concessions even at the cost of company efficiency, how regulators and executives were in bed with each other to the detriment of the product, etc. Every US interest group was acting in its own short-term self-interest, but the Japanese industry-as-a-whole outcompeted the American one and the Americans had to adjust. + +source: https://slatestarcodex.com/2020/05/12/studies-on-slack/ +Inflation was only 2.4%. + +Unemployment was lowest in 30 years + +Why would the Bank of England raise interest rates from 0.5% to 0.75%, especially with Brexit around the corner? +With all the import and export business that the US and the EU is doing, it feels like this current 1:1 ratio is the 'balanced' state for both economies. Non of the two has a buying/selling advantage due to low currency rates. So I'm not sure if this was eventually to happen or if it's just a current coincidance? +So, I'm trying to make sense of several metrics I've read about. I realize I probably did this calculation wrong but you should be able to tell what I'm trying to calculate and I would really appreciate any help in figuring out how to calculate this properly. + +* 1.) Worker productivity is 258.4% of what it was in 1979 +* 2.) Worker pay is 128.5% of what is was in 1979 +* 3.) The Consumer Price Index is 356.49% of what it was in 1979 + +**Sources:** + +https://www.epi.org/productivity-pay-gap/ + +https://www.usinflationcalculator.com/inflation/consumer-price-index-and-annual-percent-changes-from-1913-to-2008/ + +----------------------------------- +Workers must work 2.5 times harder, for only 1.3 times as much money, while prices are 3.5 times higher than they were in 1975. + +So, let's do the math... + +The average worker is working 2.584 times harder for (128.5/356.49) = 36.05% of the effective income their counterpart would've made in 1979. + +If we divide the change in effective income a worker gets by the change in the amount of work they have to do for it, the average job is (0.3605 / 2.584) = 13.95% as valuable as its counterpart in 1979. + +Again, I don't expect this calculation to hold up under scrutiny because I'm not an economist but hopefully you should see what number I'm trying to calculate. If you could help me calculate this correctly, I would appreciate it. +I am from Argentina, and it surprises me and will continue to surprise me how mistakes are repeated, it is fascinating how we forget so quickly. + +Today our economy minister resigned and in his resignation letter he literally dedicated himself to praising himself, leaving a country with 50% poverty and a currency that is worth 400% less than the moment he took office as minister. + +The funny thing is that this happens here with a socialist government dedicated to ruining people's lives, while in the last elections in Colombia they voted exactly the SAME as we have here. + +I honestly cannot believe the disbelief of human beings and their desire for self-proclaimed discomfort, the same thing happened in Chile recently and the same thing will continue to happen throughout South America. + +As a great voice from my country once said *''Moving to another country in Latin America is like changing cabins on the Titanic''* +It is a somewhat abstract question but wondering if any fellow economists feel there is a clear set of concepts behind this... + +The price of a stock is determined predominantly by future cash flow projections which themselves reflect forecasts w/r/t the supply and demand for the company's products. Analysts make these forecasts but hardly ever forecast future stock prices. + +The price of a commodity likewise is determined by, among other factors, forecasts from customers & suppliers regarding the future utility (or profit) from the commodity as well as the future availability of that commodity. Yet, unlike stocks, analysts forecast the price of oil, aluminum, etc. + +Perhaps it has to do with the magnitude of transaction costs? Stocks are likely the most tradeable asset in the world, while commodities often require transportation or trade on markets less liquid. Or maybe it has to do with the variability of supply and demand for each? +I'm studying Intermediate Microeconomics in University and my teacher's pretty bad. We're doing consumer theory from Microeconomic THeory from Nicholson and Snyder. It would be a lot of help if you guys could link me a study guide or youtube playlists. +For example, the market for fibre optic cables (for internet) only exists because there is a market for internet services. Is there a name or a term for this? + + +First time poster, here. +I was wondering if any of you more learned economists could recommend a good (accessible!) book about the different economic policies employed by nation states today. +For background, I'm no economist but am actively interested in politics and would like to learn more about the differences in approach to taxation and spending - the high-tax, good public services, Scandinavian models compared with a U.S equivalent of low taxes and bigger private spend, for example (I may not even have got that right). +Doesn't have to be too big on numbers, I'm more interested in theory and principle. +I'm in the UK, so anything I could pick up at a book shop would be good. +Thanks in advance. +I am fairly politically progressive, but I am also interested in examining the topic Dominica behind the policies of the people who I may potentially vote for. Politicians such as Elizabeth Warren have proposed a Wealth Tax, how effective would this be? + +I have seen some things saying that simply liquidating the assets of the rich would cause the value of those assets to drop dramatically, would the same thing happen? Or would there be minimal economic effects, which is what most politicians who advocate for it seem to assume? +Is taxation necessarily the most effective way to reduce emissions? Surely taxation on such a fundamental necessity would only serve to increase inflationary pressures. Therefore, would other policies such as cap and trade produce better results? +With the implementation of taxation on carbon, there would surely be a contraction in growth in the short term, but could this contraction not persist if cost effective alternatives are not found to the use of carbon? Therefore, is it better, in regards to long term sustainability, to introduce a system which gradually increases the costs of carbon usage in order to balance the needs of the economy and the environment, or is this not environmentally viable? +So, I've been thinking about this for a while, and I'm not sure if my solution is correct. The basic question is "Why is airport food so damn expensive?" + +I don't know all the cost basis breakdowns for airports, so I'd love to get some input on that. My basic solution is that once you're past security in an airport, you leave the competitive market and you're in this micro market where a lot of the assumptions of free market economics break down. Since you can't leave without going back through security, and you can't really bring food in on your own, the owners of the shops collect a rent because they own the spaces which can produce food. I imagine the cost basis is a bit higher at an airport since both food and workers have to be scanned before entering (at least they should, otherwise the TSA has a giant loophole). I don't think this raises costs that much. Rather, I think that the shops collect the rent of being the only food producers, and that this rent is ultimately collected by whoever owns the airport, since the airport can just charge increased to rent to rent out the shops. If the owner is the government, they probably Bungle this somehow. + +I think the market in the airport isn't really competitive, since you can go to different areas of the airport to get food, but the cost is higher than just going across the street. Rather, people generally just eat where their gate is. I imagine this leads to something similar to a cournot duopoly where no one has an incentive to drop prices are you there because they can collect the rents dually, or they both have increased costs from the airport who collects the rents instead. Does any of this make any sense? +So if the governments of the world all came together and agreed to pay off all loans. ( by printing currency or having banks change the numbers ) + +How would you personally react to waking up to the news that any loans you've taken out or granted were suddenly paid off? +What is the rationale behind government not including discouraged workers who have given up looking for jobs out of frustration given the state of economy? + +This under-reports the job market and at the outset looks ridiculous. +A Canadian college professor who has achieved a recent bout of internet celebrity has made claims that inequality in the West is largely overstated because so many of the haves are concentrated in older demographics and have-nots, younger. This implies that, obviously not in all cases, many "poor" youths (ie those buried in Med school, STEM degree debts) are wrongly considered disadvantaged when they are truly just future members of the elite. More generally, it seems reasonable to assume most people accumulate wealth on average as they age. Is there any economic measurement/ study that shows this phenomenon? + +I feel very ignorant about the financial world. Particularly about how the economy works, stocks, real estate, and the impact of the largest corporations/organizations on these markets. I wouldn’t say I’m totally ignorant, but I really should be more aware about the world of money. + +Can you guys reference some titles to better understand the financial world altogether? I took one poli econ course in high school where we only watched documentaries throughout the year and a microeconomics class in college. Those classes plus internet. + +Topics I’d like to understand better: +-gold; the gold standard and how it was done away with; its benefits, losses, etc. +-how the world economy revolves around the petrodollar +-things I’d mentioned above: stocks, real estate +-largest names in industries +-who tf are the rothschilds and how are they so far from any spotlight +-banking +-general stats that shape the world economy +-how the IMF works +-history of how the world economy developed +-and other guidance to better understand the global economic structure + + +Thank you so much! Books really give a much better, well rounded understanding of things rather than just snippets of information found online. +With tech companies like Uber and Amazon moving more to automate many jobs that are currently held by humans in order to increase profitability and the advent of AI, how do companies hope to sustain profitability as well as avoid an inevitable economic crisis since less consumers will exists? + +EDIT: I hoping to find an answer for the trend of automating jobs. I don't believe automation is wrong I'm just hoping to understand the sustainability of it. At some point, not in the next 20 or 30 years, but in the next century does this sort of economy become unsustainable and how would it change? +I generally consider myself to be relatively progressive, as I believe in a more generous and equitable distribution of wealth and opportunity. That said, I also acknowledge that, while I have some understanding of economic issues, this is largely a blind spot for me, and I can only voice my opinion in relative reductive and generalized statements. + +Are there any “progressive” economists worth taking seriously that you would recommend I read? Also, so as to not fall victim to confirmation bias, what are other economists you can recommend that would help give me a deeper understanding of the economy? +Hello! A friend of mine proposed the following scenario as a method to forgive debt, and I am convinced it's a bad idea. I thought I would consult you fine gentlemen for your opinions. + +A country borrows a significant quantity of money from numerous banks. The country's government then forcibly seizes control of the banks and then has them forgive all of the debt the government owes them. + +To compensate for the vast loss of money these banks suffer, the government freezes all accounts to prevent their investors from withdrawing their money in a panic. Then, with the accounts all frozen, they force the banks to invest what little they have into government-run, high-risk corporations. + +He then says that the corporations would make back the money the banks lost. + +This sounds really strange to me, how about you gentlemen? +Which of these two papers is more correct about the minimum wage? + + +https://davidcard.berkeley.edu/papers/njmin-aer.pdf + + +https://www.nber.org/papers/w12663.pdf +Let’s say people adopted a sustainability mindset where they no longer wanted new stuff but wanted to live frugally and cheaply. That would obviously cause a significant drop in GDP. Let’s say people were OK with this. How would the Fed and government respond? +With a friend, I’ve been writing a script for a video essay on Marxism, and obviously one of the points of discussion is the LTV. This is an excerpt of the most important part of the section: + +I could talk about heterogeneous inputs or joint production (a single production process that has output of two or more commodities— Obviously, analytical problems can arise, but it is possible that the labor value of a commodity might be defined as “undefined,” “nil,” or “negative”), but the biggest problem is undoubtedly an issue of correlation versus causation. Many Marxists use empirical evidence that ties cost of production to prices as a proof of the Labor Theory of Value. Because the cost of production is the same as labor (they consider capital goods “dead labor”), and because the cost of production is a good predictor of prices (at least empirically), many Marxists feel vindicated in their support of the LTV. However, this is a classic mistake of correlation not meaning causation. Instead of labor being an equilibrium that supply and demand revolve around in terms of price, it is entirely possible that instead the market value is determining how much labor can be invested profitably. It’s similar to the age old question, “which came first, the chicken or the egg?” and it makes it impossible to use any sort of empirical evidence to prove the LTV. + +These seem to be the main points against he LTV, but it seems like only two reasons shouldn’t be enough. + +If you have other criticisms, please share, and if you disagree with me and think the LTV is correct, please share and tell me why too. Just looking to learn. +It says this in a textbook I'm reading. How exactly does "trade make everyone better off" if most people are not part of the market and do not absolute or comparative advantages? + +Would this just leave the rest to working towards having a comparative advantage in selling their labor? + +In what way is everybody better off? + +Thank you! +From "The Accidental Theorist" by Paul Krugman: If there is high supply and poor demand in an economy, it falls into a slump that is essentially monetary because **"people try in the aggregate to hold more cash than there actually is in circulation."** + +Can someone smarter than I explain that bolded portion? How can people hold more cash than exists? + +Edit: Thank you everyone! +I just watched [this](https://www.youtube.com/watch?v=PTUY16CkS-k) video on QE, and while I know that it's pretty bogus, I see bits and pieces about that whole situation all over the econ network of subs (especially /r/memenomics which doesn't help at all of course). + +What was Bernanke trying to accomplish with QE? Why were so many people upset? Did he succeed? Did he fail? What exactly happened? +The way i understand gini coefficient is that it measures wealth disparity, based on this im assuming that above average income people living in countries with high gini coefficients enjoy a really nice lifestyle, therefore wouldnt it be better to live in a country with a high gini coefficient if you fall into the above average income range? +So is wealth zero sum or not? My understanding is that it is not, just wanting a little clarification. +Just asking because of an exchange in this thread - https://www.reddit.com/r/badeconomics/comments/4m9p05/it_works_every_time_if_you_have_lower_simpler/ +Apologies if this seems dumb or trivial, just trying to learn a bit. +[reposted, as Capitalism v socialism is apparently a members-only circlejerk these days] + +The dominant argument against socialist policies, so far as I see it, is that they will inevitably lead to inflation which impairs long-term economic standing. If you accept this premise, the logic pushes to reducing social spending and taxation. And vice-versa. + +Is Inflation just a boogeyman? Am I being deceived into thinking it cannot be appropriately handled by state intervention? After all, it is to a degree inevitably whatever the regime + + +World’s Stock Market Cap to GDP Ratio is [around 140%.](https://data.worldbank.org/indicator/CM.MKT.LCAP.GD.ZS) + +How does this work? As far as I understand, the value of shares are based on what people pay to buy those shares, doesn’t this mean that 140% of world GDP worth of money went to buying shares? Also, what happens to that money when stock markets fall? Does it magically disappear? +I have heard that while in theory the economy can grow at an unlimited rate per anum, in practice the highest you can practically achieve is about 10% per year - any more than this and apparently this causes issues. There are also practical limits on how much people can work, produce and consume in a year. However, I do not know if this is true or just hearsay. + +So is there a limit on how fast an economy can grow within a given year? Thank you for any responses +Hello, + +The common agreement is that taxes are a disincentive to work. + +I don't see how this is the case. Taxes mean you make less money than you otherwise would do therefore to maintain the same standard of living you need to work more. The higher the taxes, the less money, the more you need to work. + +Am I missing something? +I'm imagining a system as such. If a person does not work, they receive the amount they need to live (glossing over the valuation of this for now) from the government. If they do work, they will still receive the same amount up until about they have matched the amount they need to live. At which point the amount they receive will be adjusted such that it will decrease proportionally to their after tax income, such that the after tax total always increases with each raise, but the amount provided by the government trends towards zero as their income increases. +In his [article](https://www.theguardian.com/commentisfree/2019/jan/29/bill-gates-davos-global-poverty-infographic-neoliberal), Jason Nickels claims the following; +>Prior to colonisation, most people lived in subsistence economies where they enjoyed access to abundant commons – land, water, forests, livestock and robust systems of sharing and reciprocity. They had little if any money, but then they didn’t need it in order to live well – so it makes little sense to claim that they were poor. + +Is this accurate? +I've seen arguments that turkey farming is supposedly more sustainable than beef (and it's already known to be leaner), so is there some economic factor in the way? Or is it just consumer ignorance/favor? +Good Afternoon! + +I want to do an inquiry unit involving Macroeconomics and the Great Recession. + +A lot of the literature out there is strongly academic and might be a bit too complex for my students (or me, I'm generally history, but teaching an elective finance/economics class). + +I'm looking for particularly good blog posts, articles (web/magazine/news), or books that could really help students answer the questions: + +"Why did this happen?" + +"What were the results?" + +"How did the government pull itself out of the recession?" + +"Do you see anything in the future that could cause similar problems?" + +Thanks! +This is something I want to understand since most countries in the world are poor. Let's say you're the ruler of an island nation of 1 million, that has a GDP per capita of $2,000. How would you make your nation rich? + +Or is the reason why rich countries are rich primarily luck? +How is the derivatives market worth $600-1200 trillion when the total money supply is only $90 trillion (M3) and the combined value of all real estate and stocks in the world is only $300 trillion? + +[http://money.visualcapitalist.com/worlds-money-markets-one-visualization-2017/](http://money.visualcapitalist.com/worlds-money-markets-one-visualization-2017/) +As an example, let's say a vegan doesn't want to give their money to a company that sells mostly animal products. However, that company recently introduced a vegan product (like Ben & Jerry's vegan ice creams or McDonalds' vegan burger in Finland). + +If the end goal is to avoid paying for animal products, what should that person do? If they buy the vegan ice cream, they're increasing demand for vegan products. However, they're also giving money to a company that they otherwise wouldn't want to support. + +There's a lot of discourse about this idea on /r/vegan and I would appreciate an informed explanation of what is going on at such large scales. + +Thanks in advance for any explanations. Hopefully this is worded clearly enough--I've never studied economics. +So I haven't really done economics since yr 13 so forgive my ignorance in advance, forgot a lot. + +Turkeys GDP (PPP) 2021 is $2.749 trillion +Italy GDP (PPP) 2020 is $2.492 trillion + +Since I'm using PPP data does it mean that Turkey's current economy is as big as the Italian one? Why does it not seem so then? Why is it that Turkey has poor industrialisation and infrastructure compared to Italy, yet their economic output is similar, and Italy is part of G7 and Turkey is not? But going by the numbers Turkey and Italy seem equal. +I've googled searched to the best of my abilities with no luck. I understand that this tax reform has helped create more jobs, but how has Trump been able to cause such extreme GDP growth? What do Trump's trade restrictions have to do with all of this? +I am a high school senior, was accepted into MIT, and am definitely considering majoring in economics! Nevertheless, I'm torn between studying 6-14 (comp sci, econ, and data science) or double majoring in 14 (econ) and 18 (math). I'm very interested in doing management consulting (McKinsey, Bain, etc.) or fintech, and later earning an MBA. +In the long-term, after MBA I'm hoping to work in biotech or pharma. In this case, would one of the more bio or chem orientated majors be more suited for my plans? Thanks! +So China has a population of 1 billion and generates around 1.8 trillion dollars in revenue whereas the US has a population of more than half that and generates around 3.5 trillion dollars- what causes China to have so low revenues with such a large taxable population? +I know prices of goods are a bit higher, but seeing all this damage - from so many people getting laid off to investments crashing (especially as someone in big tech) - I’ve wondered if the cure is worse than the poison. + +I don’t have any economics background, but seeing everything in the news has gotten me curious. + +Thanks in advance! +looking at debt/GDP ratio of france, japan and italy, I wonder if the measurement have meaning. France Government debt accounted for 115.7 % of the country's Nominal GDP in Dec 2020, compared with the ratio of 116.4 % in the previous quarter. As proven by this case, they are able to decrease this ratio over time. Japan's debt is also quite high, reaching to over 200%. so, since the government consciously manage their debt to this level, I'm wondering what makes debt actually manageable for a country. what makes a certain debt amount healthy enough to finance the economy of a country? + +snippets of what I've read: + +The Joint World Bank-IMF Debt Sustainability Framework for low-income countries as of March 2021 sets the present value of total public debt at 70% of GDP as the threshold for strong debt-carrying capacity. Below this threshold is classified as medium (55% threshold) and weak (35% threshold) debt sustainability respectively. + +The European Union’s Stability and Growth Pact requires public debt must not exceed 60% of GDP. Different criteria could sow the seed of confusion, but at the same time indicates how difficult it is to come up with a unified criterion governing the fiscal policy space. + +Although most of the emerging Asian economies maintain relatively lower debt to GDP ratios—emerging Asia’s average debt to GDP ratio is 63.5% in Q4, 2020, much lower than the global average of 105.4% according to IMF data—they may not be complacent for the following reasons. + +So, what happened to Japan, France, Italy, and other countries with debt over 100%? +I think that it's just a true accounting identity, at least in long-run equilibrium? + +\[price per unit\] = \[cost per unit\] = \[wages paid out per unit\]+\[rents on capital per unit\]+\[depreciation per unit\]+\[taxation per unit\] + +is that right? +Why is it the case that lots of labor-saving technology does not necessarily have to lead to a lot of technological unemployment? + +How does an increase in productivity in one sector of the economy lead to more employment in others? +In this [Image](https://twitter.com/epichartbot/status/691267871301853184/photo/1), tracking wages to productivity, it appears that up until around 1973, wages and productivity tracked just about evenly. After that, wages seem to flatline, while productivity continues on at its previous rate until about 1995 or so, where it takes a bit of a sharp turn upwards (which I assume would have something to do with business computing really taking off) + +What happened in or around 1973 that caused the wages to flatline like that. with the sudden change, it seems as if it may be some economic policy, minimum wage laws, tax structure change, or social program ending/beginning that may have caused it. At first, a suggestion that automation may have started it seemed valid, but that seems as if it would cause a spike in productivity moreso than causing wage stagnation. + + +Me and my fiance have a lot of debt we have accumulated over the last 4 years. Most of that time either i or her have been out of work. We both have ccjs and debt collectors after us. Currently i am working but shes not. Shes applying for jobs everyday but is either ignored or turned down. We can just about afford our bills and food shopping (was left with £30 this week) but cant pay any of our debts they just keep addind extra money on, what can we do, im sick of doing 40+ hour weeks with nothing to show for it. +**Disclaimer** + +This is not financial advice. Also, I assume you have some basic knowledge of the Bitcoin market cycles and have already invested in Crypto. Always do your own research. + +Finally, English is not my mother tongue, so please bare with me. + +\--- + +I've seen countless YouTubers giving (not financial) advice about exit strategies. But they don't all offer the same advice. Why? Isn't there an optimal strategy? If so, why do they differ so much from one another? + +Do I HODL all my coins? Do I HODL only BTC? Do I take my profits in fiat or BTC? Do I buy real estate with my gains? Do I sell and buy other assets to hedge against the bear market? There are no good or bad answers because we are all different. + +Someone in Venezuela might change his entire family's lives because he owns a few Sats on an old phone with the crash of the Bolivar. His reality is much, much different than mine. I'm not looking to eat, I'm looking to retire early. + +In the end, unless they know exactly who you are and what your goals are, those YouTubers' strategies are merely good ideas, but otherwise ultimately meaningless for most of us. + +I've gathered here most of the helpful tricks and tips I've found. I'm sharing those with everyone in the hopes that it will help someone make good choices. Or, at least, an informed one. + +\--- + +Before deciding on a strategy, you need to figure out what your risk tolerance is and what you ultimately believe in. Let me explain. + +**What is your risk tolerance?** + +A risk averse person might decide to invest in BTC, close their eyes and open them again in 10 years. A person that tolerates high risk could go all in on XRP, sell near the top and buy back in again near the bottom of the bear market and make an absolute killing and become filthy rich. He could also lose a ton of money as well. Risk vs Rewards. + +Therefore, assessing your risk tolerance and using risk management to pick a strategy is essential. + +For those who don't really understand the whole crypto market in regards to risk, it's actually quite simple: The larger the market cap of a coin/token, the lower the risk. The smaller the market cap, the higher the potential upside. + +I will not spend time explaining why that is, but it is so. You can confirm this with your own research. + +In general, the whole market pumps in the bull run. Some coins do better than others, but every good project will see huge gains. + +BTC arguably offers the best risk to profit ratio. It's extremely asymmetric. There is huge upside with almost no risk. That's the main reason behind the institutional adoption. It is not, however, the best way to make lots of money. It will be outperformed by a ton of altcoins, but know that very few (if any) will outperform it during the bear market. + +ETH is a little riskier, but arguably not during this bull run. It's almost a sure shot that it will outperform BTC. It's almost a sure-shot that it will underperform BTC during the bear market. However, please keep in mind that it is NOT risk-free like BTC. Something can happen to Ethereum. It's extremely unlikely, so it's still the 2nd safest coin. + +ALTs are all risky, period. Any bad news can kill a coin. Even our beloved ADA. Good projects generally are pretty safe (top tier coins). The lower down the rankings, the higher the risk.Small gems' performance can be downright outrageous, though. We're talking in the thousands of percent gains. Almost all (if not all) of them will crash hard during the bear market, according to past history. This could change, but I wouldn't bet on it. + +On a scale to 1 \[super safe\] to 10 \[super risky\], a safe portfolio looks like 100%-80% BTC. A risky portfolio looks like 50% ETH and 50% Alts. A ridiculously risky one is 100% XRP. + +You can assess where you fit on that scale. + +\--- + +Now that we know your risk tolerance, we need to know what do you believe in. + +There are 2 questions to answer: + +**1- Do you believe in the US dollar, Bitcoin or other assets? And what about the economy?** + +So, do you believe there will be an economic collapse? Will BTC become the world reserve currency? Will there be (or is there) hyperinflation in your country? Those questions are legitimate and personal. + +They are also important when trying to figure out your strategy. I personally think Bitcoin will one day be the world reserve currency, for instance, even though my local currency is somewhat stable for now. I'll put myself into the "Believe in Bitcoin" category. That basically means I want to take some, most or even all my profits in BTC or Satoshis. + +Maybe you think the US dollar will survive (or your local currency), at least for the coming years, and just want to make money in crypto. You don't really care what happens with the financial system, as long as you can make money. Then, you are in the USD category. Take profits in Stable Coins or your local Fiat currency, pay capital gains tax (if needed) and buy yourself a Lambo, a house, or just food if that's what you need. There's nothing wrong with that. + +Maybe you're unsure. Maybe you like other assets and want to diversify. Gold, Silver, Real Estate. This is not my area of expertise. Consider a financial advisor. Take profits in Fiat and diversify the hell out of your portfolio to reduce the risk of hyperinflation or an economic collapse. + +**2- How bad do you think the bear market will be?** + +Understanding the market cycles is important to answer this question. If you have no idea what I'm talking about with the Bitcoin market cycles that (re)start each halving, has 4 phases including a bull run (what we're in now) followed by a bear market (should be in 2022), then you need to study it. It's important. You have a few months left to do so. + +There are pretty much 3 school of thoughts on that subject. + +1. This cycle will rhyme with the past cycles. + +Essentially, this means that BTC will rise to anywhere between 150k to 400k (or so - hard to tell) and crash down hard (about 80-85%) during the bear market (next year-ish). + +2. This cycle will rhyme with past cycles, but with reduced volatility. + +The argument here is that BTC's volatility is declining and the bear market crash won't be as bad. The last cycle, the major pullbacks were 30-40%. In this cycle they are closer to 20-25%. (more or less - didn't do the exact math). This reduction in volatility leads some of us to believe that the bear market (a multi-months long pullback) will not be 80-85%, but rather closer to 50-60%. Maybe 40%, maybe 70%. No one knows. + +I'm in this camp, btw. + +3. This cycle will be a supercycle. We have to acknowledge the fact that adoption will one day break the market cycles. Of course, the halving will always have an effect on the price, but the cycles might stop repeating. Some, like Dan Held and Michael Saylor, believe this might be the case this time around. There are a few arguments (covid, money printing, economic collapse, etc.), but the main one, I believe, is the institutional adoption. This should create enough buying pressure to keep Bitcoin afloat during the bear market where the correction would not drop so drastically, but instead only significantly. Consider a possible sideways time-based correction with relatively small fluctuations (30-40% or even less) over a long period instead of a huge sudden -80% drop. + +I believe this is a possibility. And regardless of what you believe, it's important to keep this in mind when implementing a strategy. Personally, I think it's still too early. Many, like me, think this will happen, but maybe only on next cycle or even the one after that (in 4 to 8 years). + +However, with all the uncertainty and instability in the world, it's safe to assume it is at least a possibility. + +Ok, great, now what? We pick a strategy. + +**Bear market and exit strategies.** + +Before I start, I want to point out that these strategies are not meant to be followed. Rather, they serve as guides and examples of what is possible. You can mix and match anything to create your own strategy according to your own needs. Everything is scalable with a wide range of possible variations. In other words, it's kind of like a buffet :) + +**Strategy #1**: HODL (Hold On for Dear Life) \[Risk 1, Bitcoiner\] + +This is the perfect strategy for people who don't like trying to time the market. It's also the only one I'm 100% confident in. There is a great saying describing this strategy: "Time in the market > Timing the market". It's an investor's perspective. + +If you don't know what the hell you are doing, you can't go wrong, here. Buy BTC. HODL forever. You'll do more than fine. + +The strategy assumes that you don't care what happens in the bear market. This is not an OPTIMAL strategy, but it is a good and SAFE strategy. + +Imagine buying at the top of the 2017 bull run. You would have bought BTC at 19.5k. Looks pretty bad when it drops to 4k the following year. However, you only lost money if you SOLD. If you HODLed, you are doing great right now. There isn't a single soul on the planet that wouldn't buy BTC at that price today. HODLing simply works and is almost 100% safe. + +If you HODL, I assume you will do it with Bitcoin. So what do you do if you are a long term investor but own other coins as well? + +Well, in this strategy, you HODL those too. Ironically, keeping Altcoins (and even Ethereum) during the bear market is actually a risk. Therefore, this strategy works a lot better if you are 100% BTC, or at least mostly BTC with some other projects you just love and want to contribute to. For instance, while this is not my strategy, I AM planning to keep a small ADA bag to HODL because I want to support Cardano and believe in the project. + +**Strategy #2**: Stacking Sats is the name of the game. \[Risk 2-3, Allcoiner\] + +Disclosure, this is my personal strategy. + +Here, we HODL BTC, which makes up most of our portfolio, but we use altcoins during the bullrun to stack more Satoshis. The ONLY use we make of altcoins is speculating on the fact that it will outperform bitcoin and take all (or most) of our profits in Satoshis. + +The way we do this is by pricing those alts in Satoshis instead of USD. A variation of the Little Old Lady investing strategy is used to take profits. This strategy is extremely powerful in Crypto. + +Essentially, when the altcoin doubles (or whatever percentage you like) vs BTC, we take out our initial investment and let the rest ride as a "moon bag". We take profits along the way to the top, or simply try to time the top as best as we can. Both are viable. It's a personal choice. When in doubt, Dollar Cost Averaging is the safest option. People often forget this is also possible when selling. It's the strategy used by (most) miners, for instance. + +If we believe in a super cycle, we can be riskier with our moon bags, but we always make sure we to take out our initial investment. We're not in the business of losing Sats. We Stack Sats. + +If we expect a harsh bear market, the goal is to purchase those coins again very cheap when they drop hard (90%+). This should turn into incredibly good profit in the next bull run 3 years later. Of course, fiat (stable coins) can also be used for this strategy, depending on what you prefer. + +The ultimate goal is to transform the alt gains into something that will lose LESS value during the bear market to purchase them back again near the bottom while stacking as many Satoshis as possible. + +**Strategy #3**: Sell the TOP, buy the BOTTOM. \[Risk 8+, Harsh Bear market expectation\] + +This is for people like the (infamous) BitBoy Ben. He says he's a crypto guy. He's not. He's a money guy; a businessman. It just so happens that he understands that fiat is not very good money and that crypto gains are insane. + +If you are a risk taker like him, you can make huge gains by trying to time the market. For instance, if you own 1 BTC and it reaches 400k. You could sell it for 400k in Stable coins. In the bear market, if it loses 80% of its value as expected, you can buy 400k worth of BTC at a price tag of 80k. Suddenly, you own 5 BTC instead of 1. + +This is honestly the optimal strategy to make most out of the bear market. There are issues and risks involve, however. So let's take a look. + +First, there's the issue of timing the market. Nobody will time the top and bottom perfectly. So that hypothetical 1 BTC isn't really turning into exactly 5 depending on your performance. You will likely have to scale out when taking your profit. You probably (hopefully) DCA'd in (Dollar Cost Averaging) and you should probably do the same when taking profits. + +When the top nears (according to key indicators - more on this later), you want to start to DCA out of your position. Something like selling 20% of your full position every week for 5 weeks, for instance. + +Personally, I started DCA since the beginning of 2018. I bought at 18k and all the way down to 3.5k and back up to 17.5k, my last BTC purchase in December 2020. It was not optimal, but it was safe. Every good investor understands the value of Dollar Cost Averaging. If you like risk, you chose a smaller period of time (1 month instead of 2 years, let's say), but you should probably still DCA in. Or, you know, go all in if you really like the price. Since I had funds available, I purchased more at 3.5k than 17.5k, obviously. + +Secondly, there is the risk that you miss the top completely. That's the only reason I am not fond of this strategy. For instance, if I believe the top is 200k and eventually sell all of my position around that price target, but BTC keeps going up... 250, 300, 350, 400, 500k! Then it crashes to 250k and stabilizes there for 3 years. That's a pretty big loss. + +Is that a likely scenario? Probably not. Is it possible? Fuck yes. Certainly, those who believe in a super cycle think it can be much worse than that. So, who's right? I don't know. Neither do you. Nobody does. Risk management. + +If you, like BitBoy Ben, truly believe in a harsh bear market and a top around September, this is the ultimate strategy to make the most gains. If you dislike the risk of timing the market or the risk of a supercycle, you probably should stay clear or only consider doing this strategy with a fraction of your portfolio. + +In my case, even though this is not the strategy I will use, I could still convert a very small part of my BTC portfolio to stable coins and try to buy the bottom. + +Or... + +**Strategy #4**: Short the bear market \[Risk 9+, No super cycle\] + +The last thing I would like to talk about is shorting the market. Trading portfolios should never, ever be refilled. When trading, you accept the risk of losing it all. Once you are OK with this, you can try margin trading. + +I highly advise against it, but it's a valid option. + +Just be extremely careful. + +However, if you do believe in a long bear market, placing a long term short on low leverage with a big margin can be quite rewarding. + +If you are a trader, you are unlikely reading this. If you aren't, consider studying a LOT before trying to margin trade. It sounds easy. IT. IS. NOT. + +Strategy #5: The best strategy (Yours!) \[Everyone\] + +There is a high probability that you should not use the previous 4 strategies. The important parts are the concepts I shared, not the strategies themselves. You should make up your own strategy according to your goals and risk tolerance. + +After assessing your own needs, you can come up with a fair plan for YOU. It doesn't need to be perfect, because it CANNOT be perfect. Don't be too greedy. Regardless of your risk tolerance, risk management is important. + +Even if you believe in something (USD IS SCREWED!), it doesn't mean it will happen. Have a plan in place for scenarios where what is expected doesn't plan out. + +Manage your risk responsibly. + +\--- + +**How to time the TOP?** + +Unfortunately, the answer is that you can't. It's not really possible. Once again, the goal is to be as close as possible, not hitting the jackpot. That's why DCAing out of your position has the best chance of getting you the best outcome. The riskier you are, the smaller the time frame. I would DCA out within a couple of months, personally. Someone might want to do it all in a week. To each his own. + +I will also not tell you how to use the following indicators, nor will I list all of the useful ones. You need to do that research yourself because I am not confident I can be of much help. Just know that there ARE cycle top indicators, and many of them are pretty useful. + +I'll briefly explain the three that I will be using. But I follow quite a few market analysts and value their opinion greatly. PlanB and Willy Woo for instance. Lots of good YouTubers (Coin Bureau specifically) can clue you in as well. Again, do your own research, + +\- The first indicator is the cycle length. By determining when in the last 2 cycles top were (by counting the number of days the top was reached after the halving), we can approximate when the top will be this cycle. Since the last two were very similar, we assume this one will be as well. There are plenty of better resources than me on that subject, but it is expected to be late Summer to early Fall. September / October is a fair guess. This can vary. It could be in July, it could be in January 2022. It could be never. Who knows? What's certain is that it is not tomorrow (April). We still have plenty of upside left. + +\- NUPL (Net Unrealized Profit/Loss). This has been very accurate in the past. In essence, when too many people are in unrealized profit, we can expect mass selling. This can trigger an avalanche of fear in the whole market and everything crumbles quickly. That's what happened in the last 2 cycles. The danger is a double top scenario like in the 2nd cycle. It hit the "euphoria" level (I think it's 95+), crashed, then picked up again, reached "euphoria" once more, and THAT was the top. In 2017, it only reached it once and it was the top. It's a good indicator, maybe one of the best, but it has shown a fake top before. There's no magic recipe. + +\- BTC Exchange flows. This graph shows how many BTC is deposited or withdrawn from exchanges. Since the main way to sell BTC is by first depositing them on an exchange, when the in flows are too great, it's a sign that a lot of sellers are entering the market. At the moment, the out flows (BTC withdrawn from exchanges) are quite high and it clearly shows a shortage of sellers (and a shortage of supply on the exchanges). +[https://www.dodl.co.uk/](https://www.dodl.co.uk/) + +Just created my account. It offers: + +* S&S ISA +* S&S LISA +* SIPP +* GIA + +Fees: 0.15% (OCF not included) - No dealing fees + +Investment range + +* Some premade active funds from AJBell (haven't looked into those) +* Specific major stocks +* And hidden into their "Themed investments" and fancy names are hidden the index trackers. + +I was initially disappointed when seeing no good index trackers, but after finding them (you need to check into the Key Investor Info to see which actual fund it is), they are actually pretty good chosen! There's just a single one for each theme, but they are mostly well chosen with very low fees. Some are iShares, Vanguard, Fidelity... + +There's also some more trend indexes and also bonds. + +All in all, it's pretty solid I'd say. Specially for newbies, but also if you don't care that much about the specific fund, the choices are decent in terms of fees! + +Also they offer LISA, so this account straight up beats HL (obviously with a smaller range). + +I personally I happy with it, and seriously considering the move of my LISA. + Never traded but always had an interest . I've got Th intelligent investor with commentary and managed to find a PDF of Margin of Safety so far with many more books I'm looking to buy. + Aside from those, investopedia and the recommended books/sites I've seen posted here . + What is the best learning path one should focus on? I'm just trying to not go out of order +TLDR - If you "wheel" and your cash sits in your account doing nothing while you have a cash secured put, you will be more profitable by doing a covered call instead due to the effect of "Rho". + +&#x200B; + +If you don't know already the "Wheel" strategy involves selling cash secured puts, then if you get assigned and buy the shares you sell covered calls until you get assigned and sell the shares, then rinse/repeat. **But if your cash is just sitting there while you have a cash secured put then you are leaving money on the table**. Let me explain + +The "risk free rate" is one of the variables in the black & scholes options pricing model represented by the greek "Rho". As interest rates go up, calls go up in value and puts go down in value. Longer term options are more affected by Rho than shorter term options. + +Here is one example for why this happens. + +https://preview.redd.it/fot2ke8fv0d91.png?width=662&format=png&auto=webp&s=e63b3e23ecfeebf33164b0af0b162ebb8bf7a08c + +Let's assume you're thinking about buying 100 shares of NTES, a $100 stock, for 10k total. But instead of this you decide to buy a deep ITM $50 strike call for $50.20. You have the same upside potential as someone who owns the shares(minus the 20 cents of time value) but you spent 5k less cash. The black & scholes model assumes you are earning the "risk free rate" on that 5k extra cash for the duration of the option which means the call has to be priced higher to account for that so that there is no "free lunch". + +**A cash secured put and a covered call have literally the same profit/loss profile.** There is no difference to the trades except for the amount of cash being spent/received, and the difference in time value received due to that difference in cash + the effect of Rho. + +With a cash secured put you are not spending any cash. The cash being secured can theoretically be invested and the black & scholes model assumes it is invested at the risk free rate for the duration of the option. This is why the put premium is adjusted down when interest rates are higher so that again there is no "free lunch". + +Take a look at these screenshots for another example. + +https://preview.redd.it/1wkqsoe6w0d91.png?width=529&format=png&auto=webp&s=ab570f8bd831af98c108369917bd8c040d165c89 + +https://preview.redd.it/7bo1ipe6w0d91.png?width=538&format=png&auto=webp&s=c17aec4a4daae2f504c390234efa3b8f4943f6ab + +NTES at the money call for Jan 2024 is 21.00 bid, 23.50 mid, 26.00 ask. At the money put is 18.00 bid, 20.50 mid, 23.00 ask. A very clear difference which can be explained by Rho. Interest rates are higher now so this is becoming more relevant. It's not as noticeable on shorter duration options but the difference is still definitely there and can add up if you do a lot of them. + +**So if you are doing cash secured puts and your cash is just sitting there the whole time earning basically no interest, then I would argue the better alternative is to just skip the cash secured put and go straight to a covered call.** Buy the shares and sell a call for the same strike you were going to sell the put at. Again there is no difference in the profit/loss profiles but you would be getting more time value on the covered call due to the effect of Rho. + +But if you insist on doing cash secured puts for some reason at least try to invest your money in some kind of "cash equivalent" like a short duration US treasury bill. They usually have very low margin requirements and some brokers allow you to secure puts with them. + +Side note: If the stock has an ex-dividend date then the stock will drop by the dividend amount on that date. The options take this into consideration. Therefore puts expiring on/after that ex-date will go up in value and calls will go down in value. This may make it seem like a cash secured put is a better deal versus a covered call than it actually is but it's not because with a cash secured put you don't get the dividend. With a covered call you do. + +Side note 2: There are rare instances where puts are more expensive than the calls such as on DWAC right now. This means the optimal "wheel" strategy would be to start with a cash secured put, then if assigned, sell the shares and sell another put at the same strike you would have sold the covered call at. If possible invest the cash that is securing the put into some kind of "cash equivalent" so you can earn close to the risk free rate +This guy's interview with Kirk at Option Alpha: https://optionalpha.com/selling-options-every-day-19957.html + +Basic Strategy: + +* He sells put credit spreads on SPY, 10% OTM (with the second leg 1-3 strikes below that). +* He opens one new position and closes one from last month every day — sell one 60 days out, and buy one 30 days out. +* He doesn't chase high IV, just sees himself as an insurance company selling insurance on SPY. +* He closes losing trades on the same schedule as winning ones, rather than waiting or rolling. + +I can see a bunch of issues with this strategy, but mostly I'm just not clear on how he gets to 22% gains annually with this system. Especially since the premiums on 10% OTM trades are going to be very small. I can imagine it being profitable, just not as much as he claims. + +Does anyone think this is possible long term or is he just benefitting from the bull market? + +I notice that a lot of the questions that we get here about things like incorrect tax codes, NI contributions and sometimes things like tax credits. + +The advice given to people is "ring the tax office" or "speak to your employer". + +Actually for many simple situations, your quickest way to deal with stuff is to make sure you are registered for online for the personal tax portal. It's a super user-friend interface and have lots of good detail about you. + +* https://www.gov.uk/personal-tax-account + +Not only is it quicker and easier to solve basic tax code errors yourself (I fixed an error with my own the other day) but it provides you with quick access to all sorts of information (including but not limited to): + +* What are your NI contributions and do you have any gaps? +* Current projected state pension and how many more years you have to contribute for the full amount. +* Transfer marriage allowance. + +Even if you think you have no use for the moment, I'd recommend registering just to check your records and also for any future problems... +Got a 15k increase in salary when I moved districts August 27th. Last job paid bi-weekly, and new job pays last Friday of the month. I had to wait until end Sept. for income. Glad that EF was there just in case my envelope system ran out +Statement from Grim Finance, [from Twitter.](https://twitter.com/financegrim/status/1472357770846519312?t=uhQ4rteXIB_sR0AqeD-t8Q&s=19) + +>Hello Grim Community, It is with heavy hearts that we inform you that our platform was exploited today by an external attacker roughly 6 hours ago. The attackers address has been identified with over 30 million dollars worth of theft + +The hacker has stolen more than $25,000,000 USD. You can view their wallet [here](https://ftmscan.com/address/0xdefc385d7038f391eb0063c2f7c238cfb55b206c). + +RugDoc.Io posted an excellent write up of how the hacker stole the money, avaliable on Twitter [here.](https://twitter.com/RugDocIO/status/1472293712185151492?t=RY7EXsiB-R2eaNe0zgix-g&s=19) + +SpookySwap have offered the hacker 300,000 FTM in exchange for the 137,000 BOO he stole and is yet to offload. [Source here.](https://twitter.com/RugDocIO/status/1472356374332035076?t=m-O_W2vUhkwkiOvM72PJfQ&s=19) + +High drama in the Fantom Universe today. +&#x200B; + +https://preview.redd.it/ab3w47i9dx991.jpg?width=625&format=pjpg&auto=webp&s=be01cedbcfa9f02ba4f88cce0d14f5b0e67aa877 + +When I search on google: "reddit superstonk" I get this one placed as the fifth result. We have daily posts reaching 4k upvotes. But this one with \~800 is somehow very special. Conveniently placed don't you think? And a very conveniently cut off title and first content snipped... + +I have seen more posts like this. The title as a whole or atleast a significant part of it reads with a certain sentiment. On further examination it's not unworthy of a post in itself, because apparently we are open for discussion and not really a cult. But who ever reads more than just a title to decide on clicking? There is no fun to be had when you see this on google! + +Edit: Added the post so it won't get more popular on the google rankings: + +&#x200B; + +https://preview.redd.it/lczust4xvx991.png?width=697&format=png&auto=webp&s=135b769a7765d17689606346a04e3ce4ef730939 +I was watching bloomberg where they are doing the "12 days of bitcoin". The guy that is hosting the series gave bitcoin gift certificates to the other two hosts. One of them opens up the certificate to reveal QR code of the private key. They then proceeded to show a closeup of the QR code in glorious HD for about 10 seconds. Hilarious. +I want to bring the community attention on the BANCOR ICO because i think that could pose a major threat to the ethereum ecosystem , I will explain most of the points on why bancor team want to scam investors and raise an absurd amount of money: + +1-the ICO details where posted 7 days before the ICO and the ico will happen on the 12 of june , 2 days before the china conference + +2-if the hidden cap is hit in the 1hr at 1hr 1 second it closes so if hidden cap is 50mill and in the 1hr they get 200 million at 1hr 1 second it stops at 200 million + +3-the ICO will be uncapped for the first hour ,and we know what crazy amount of money it can get (BAT,GNOSIS) (1 hour can fit in 240 blocks on average ,BAT ICO did 3 blocks = 34 million USD so they could (if the network doesn't have congestion) do 2 billion USD) + +4-Is something being done to make sure that the team don't raise over 100M USD in the 1st hour? Could the team potentially raise more than 1 Billion if people throw enough money? + +5-what for they could possible need 2 billion for? + +6-they didn’t put a minimum amount for the project to be successful (Why are they raising more money than you need for the project?) + +7-they didn’t disclose What price did VCs get for BNT (or is it fixed % ?) + +8-why 20% bounties are needed a normal project have 5% bounties max + +9- the company hasn’t disclosed if they have plans for what happens if their intended cap is vastly overcame in the 1st hour? + +10-they are doing an ama( SOONtm)and this ama will probably only answer our questions and not change the ICO model + +11-they didn’t disclose if there are any failsafes on the contract that mint BNT after and during the ICO ? +(they could hold up to a 2 billion in eth) + +12-In the blog it says "Funds will be held using multi-sig wallets according to industry best practices." Does that mean that, initially, if the team raise 100M for example, that money will actually be held in a regular multi-sig wallet that has been battle-tested? + +13-What portion of the funds the team raise will be kept in the smart contracts that enabled bancor’s core product? + +14-Essentially what I want answered is - what steps are being taken to prevent a DAO 2.0 - where an irresponsible amount of money finds itself in a smart contract that, though audited, may contain a flaw. Do the team roll these out in small steps? What kind of disaster recovery and failsafes do the team have in place to minimize theft/damage? and if so which ones ?is the contract autonomous or not ? if failsafes are in place how will we monitor if malintent from the team happens? + +15-they didn’t disclose if there are any hidden fees that the Bancor company get that BNT holders dont? + +16-The Foundation may adjust the CRR as needed to accommodate market changes and maintain performance." so that means someone has access to the contract (pls no DAO 2.0) + +17-Scalability: how to handle many transactions on exchange at the same time? According to your formula, in each transaction, the global supply and balance are supposed to know thus to be synchronized between transactions, which means that the transactions handling have to be serialized. So the Raiden may not help because the result of each transaction has to be updated to the Ethereum network. And also it can not leverage the sharding because of the serialization. Do you have any solution to fix it?(this could potentially destroy thw whole eth network) + +18-To fix slowness and expensive cost: Even there are a few transactions, they are still slower and more expensive than the centralized exchange because they have to run on Ethereum network(It may still take seconds even when using POS instead of POW I guess) It may take at least half minute for now to confirm the transaction, so it is not handy for the users, how to fix it? How to guarantee the fee lower than the centralized exchange? + +19-What is the reason for a secret soft cap? Why can't the team just make the cap public? What is the value this approach brings in ? + +20-also in the bancor slack (total shitshow) the admins did a poll to let the people choose their preferred uncapped ico duration the options where : +15 min +30min +45min +60min +but they haven’t included the No uncapped OPTION that was asked multiple times and they have gone silent after that. +and they are doing a AMA but they are not gonna change anything or only set the uncapped time to(15,30,45) conceding this to the community but it wont change a thing because they still could get a crazy amont of money +also they haven’t answered and ignored this simple questions +1. What are you predictions of how much you will raise in total for this ICO. +2. How much do you expect to raise in this first hour +3. Why do you think an uncapped option is correct ? +21-the 1 hour will be uncapped so everyone who want to get in will get in and after there will be no buy pressure on the market and price will plummet + +if you want to see the token sale details and the crazy pie charts with the token distribution + +https://blog.bancor.network/bancor-network-token-bnt-contribution-token-creation-terms-48cc85a63812 + +50% to the investors and 50% to the team and their friends (note that only the team has vesting not the bounty whores and early contributors) +this shit I s completely crazy and will damage the whole eth ecosystem they could dump 80% of the eth raised on the market. + +Welcome to the Daily Altcoin Discussion thread of /r/EthTrader. + +*** + +The thread guidelines are as follows: + +- All sub rules apply here so please review our **[rules page](https://www.reddit.com/r/ethtrader/about/rules/)** to become familiar with them. The rules page is also linked in the announcement bar above. +- This thread is intended as a welcome place for discussion of all non-Ethereum related crypto. + +*** + + Resources and other information: + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! + +I'm super excited about Iconomi's offerings; having a index tracked fund (BLX renamed from ICNX); holding over 70% of all crypto is perfect for me as it removes the volatility of a single coins and I can be a passive hodler with less risk. + +blockchain.ONE is a due to be a crypto fund (unsure if index tracked at this stage) traded on standard fiat exchanges (i.e. the London Stock Exchange!) giving an easy way for people to trade crypto and also removing the volatility of single coins. + +Profits will go back into the ICN token, which I've not bought yet, as the BLX is doing so well: https://www.iconomi.net/dashboard/#/INDEX +Welcome to the **/r/EthTrader** Daily Discussion thread. The thread guidelines are as follows: +*** + +- Discussion topics include but are not limited to general discussion, details related to events of the day, technical analysis, Ethereum Classic, and minor questions. +- Important content should be posted as a separate thread. +- Be excellent to each other. + +*** + +Thank you in advance for your participation. Enjoy! + +Just wanted to spark some discussion since I know most of us have invested in GNT in some capacity. Where do you see the price in 3 months, 6 months, and 1 year? +Welcome to the **/r/EthTrader** Daily Discussion thread. The thread guidelines are as follows: +*** + +- Discussion topics include but are not limited to general discussion, details related to events of the day, technical analysis, Ethereum Classic, and minor questions. +- Important content should be posted as a separate thread. +- Be excellent to each other. + +*** + +Thank you in advance for your participation. Enjoy! + +Many devs are talking about the onboarding issues: + +Getting them started with a wallet and explaining that they'll have to 'sign in' to that wallet using widely varying software, some of which has a high incidence of fraud and failure, and that they can't ever lose (or change!) that password or else they'll permanently lose access to everything — that's a hard sell without some seriously good onboarding tools. + +https://medium.com/fluence-network/dapp-survey-results-2019-a04373db6452 + +The funny thing is the same things were happening in 1994 and were fixed by Netscape browser: + +An important innovation that Netscape introduced in 1994 was the on-the-fly display of web pages, where text and graphics appeared on the screen as the web page downloaded. +Earlier web browsers would not display a page until all graphics on it had been loaded over the network connection; this often made a user stare at a blank page for as long as several minutes. +With Netscape, people using dial-up connections could begin reading the text of a web page within seconds after entering a web address, even before the rest of the text and graphics had finished downloading. This made the web much more tolerable to the average user. + +https://en.wikipedia.org/wiki/Netscape_Navigator +Hi, recently I was thinking about starting an Ethereum meetup and came up with an idea to [get people together](https://www.reddit.com/r/ethereum/comments/438rrb/want_a_local_meetup_to_discusscollaborate_on/). + +In the process, the current Meetups available were [noted](http://ethereum.meetup.com/). I found that interesting, and decided to compare it to bitcoin, litecoin, and doge. The number of people getting together was pretty surprising. Here's the number currently: + + * Bitcoin: +701 groups with 133,192 members + + * Ethereum: +167 groups with 27,142 members + + * Litecoin: +29 groups with 4,459 member + + * Dogecoin: +14 groups with 1,388 members + +**I don't know about you, but this was an OMG moment for me.** + +While Ethereum might be far fewer than Bitcoin (roughly 20% to 25%, clearly it market cap is much smaller (3%). + + * How does that compare to Litecoin? It's roughly 3-4% of Bitcoin's meetup social sphere and roughly 3-4% of its market cap. + + * Dogecoin? It's 1% of the meetup social sphere and 0.5% of the market cap + +I don't want to say that the Meetup metric is predictable of the stable value of the marketcap. That's super unlikely. But it does give an indication of the level of serious interest in Ethereum without the confounding factor of shitty spam. This to me suggest the interest in Ethereum has just begun, and if it's already 25% of Bitcoin, imagine when it's out of its beta phase! People like to talk about "network effects", and I agree with earlier arguments that the the "network effect" is not as powerful as people think. Nevertheless, even if it was, Ethereum at 25% of Bitcoin suggest very little network effect with respect to this particular sphere of interest. +The DAO brought a big price ramp cause of everyone wanting to buy shares. Will Augur bring a similar ramp with people buying ETH to play the prediction markets? +I recently just made a post here asking whether there are any other bluechip coins else than BTC and ETH. I was obviously prepared for spam bots etc. But still the amount of people that claimed that their low-cap coin, no one knows about with a 100M market cap or so, is 100% safe was just outrageous. + +Many claimed that some low-cap coin they invested in will definitely be successful in the future and is actually 100% safe. The sad thing is that many seemed like they are not even a bot. + +Maybe that Crypto won't crash into disappearance and actually survive but there is absolutely no guarantee that it will be profitable, especially with low-cap coins. That's why it's: higher risk, higher rewards. + +Obviously a low cap coin no one knows about could possibly end up being very successful for you. So investing is not wrong. But you should know that there are probably hundreds of Cryptos doing the same thing, solving the same problem. So it's very hard to find something legit and uniquely new nowadays in Crypto. +Hello fellow smooth brain friends. + +This is entirely plausible but because RC's tweets are entirely vague and there needs to resemble some level of plausible deniability so that no fingers are pointed at him post MOASS. So take this all with a pinch of salt even though some of the things mentioned in the Whisky FUND below are absolutely TIT JACKING! ps. A LOT of Tinfoil was used in the making of this post but the coincidences are pretty amazing! + +I looked into Whiskey a while ago when RC tweeted and I made a small post. It didn't gain traction and gained very few likes. It was odd that some months later it was getting likes and awards (Snek awards). Yes this was in the time just before people thought Snek awards were some hidden meaning all until they were spammed by users to each other. + +\-------------------------------------------------------------------------------------------- + +**TLDR:** + +**Whiskey link from ICOHOLDER where Daniel Wang (Loopring) features as the CTO for the fund literally says BUY and HOLD! Loopring and GME have a partnership (no shit sherlock). Whiskey NFT offering is to weed out fake whiskey from the market. Fraud whiskey on the market affects the collectors market. NFT's to be released to authenticate genuine whiskey.** + +**Apes and retail traders have been screaming about fraud and illegal activities in the financial markets. Almost like the same is being done to fight illegal activities in the Whiskey trade. NFT's for the win!** + +**Ryan Cohen tweets about a small Wee Wee & Wang is another term for Wee Wee/penis (Same as Loopring Daniel Wang surname). Cohen tweets about a small wee wee and does a post about 69 from Wikipedia. Online sites say no problem as wee wee size doesn't affect pleasure. Dan Wang probably have really big wee wee, and going to unleash it on the Market... because you don't brag about a having a big wee wee (Dan Wang) if you have one. We in for a good surprise when everything LRC and GME have been working on gets unveiled.** + +**This could be links between RC whiskey Tweet, RC 69 tweet & Wee Wee tweets.** + +\------------------------------------------------------------------------------------------------- + +So, I appreciate /u[/ninche60/](https://www.reddit.com/user/ninche60/) for sharing some screen shots from the [ICOHolder.com](https://ICOHolder.com) which made me want to break this down on a post and dive back into Whiskey! + +What originally lead this whiskey rabbit hole digging was Ryan Cohens first Whiskey tweet: + +&#x200B; + +[September Whiskey post from RC](https://preview.redd.it/v39420lmxfy81.png?width=602&format=png&auto=webp&s=d591b43c7dba4bd059d4043adeb0c5c9254492b6) + +So /u[/ninche60/](https://www.reddit.com/user/ninche60/) shared some screen shots from ICOHOLDER and there was Daniel Wang involved in this project. + +&#x200B; + +&#x200B; + +[ICOHOLDER](https://preview.redd.it/ga3ezm1pjfy81.png?width=600&format=png&auto=webp&s=868e777f281513116a7f699a3550bb688147e3e8) + +# Here is the breakdown of ICOHolder: + +Link: [https://icoholder.com/](https://icoholder.com/) + +ICOHOLDER company is a smart tracker, global analytics platform with the largest crypto database, giving institutional and retail investors access to real-time, high-quality, reliable market and pricing data. As a market data provider we offer a comprehensive, holistic overview of the market and crypto trends. We produce: cryptocurrency trade data, order book data, blockchain and historical data, social data, reports, audits, crypto reviews and a suite of cryptocurrency indices. Our mission is to make the crypto industry more transparent. + +# Here is the breakdown of ICOHolder Whiskey: + +*^(Howard Cai® ‘s Select Whiskey Fund is the World’s first ever FinTech enabled whiskey fund & The first to introduce fractionalized cask ownership Investment method.)* + +Link: [https://icoholder.com/en/hcs-whiskey-fund](https://icoholder.com/en/hcs-whiskey-fund) + +About HCS Whiskey Fund The fund was designed to provide more exposure to Fine Scottish Whiskey as an asset class. The HCS Whiskey Fund (“HCS”) provides lower barriers to entry through “Fractionalized” ownership (vs. whole barrels). HCS Investors will also benefit from a diversification by investing in multi-barrel portfolio (vs. single barrels) and will have higher liquidity via secondary market trading since it is utilizing blockchain in raising funds via Digital Asset Token Offering (DATO). The fund has also been designed to have stable funding source for long term “buy and hold” strategy via closed-end structure and has the expertise of the SEA’s leading independent bottler (IB), Howard Cai. HCS Maximizes the ultimate selling price of assets through use of Howard Cai® Selected brand and existing distribution network of high-end restaurants, casino hotels & duty free shops such as The Whisky Dungeon by Howard Cai®. HCS also has an enhanced security and transparency via FinTech atop traditional, proven Cayman SPC structure and is loaded with the Best-in-class compliance and integrity enhanced by best-in-class advisor. + +It literally says in the fund "The fund has also been designed to have stable funding source for long term “buy and hold” strategy" + +# BUY AND HOLD!!! + +Before I delve into the team what the hell is the purpose of this NFT/crypto market for Whiskey. + +Well it turns out that the Whiskey market is incredibly infiltrated with FRAUDS! YES FRAUDS! + +Here's an Article that was dropped on September 21st, 2021 5 DAYS before Ryan Cohen's Whiskey Tweet!!! + +&#x200B; + +https://preview.redd.it/60h2bdsfufy81.png?width=646&format=png&auto=webp&s=f251ba64ab2511bdc5142fe01cbfef3e69d6d95b + +link: [https://www.thisismoney.co.uk/money/beatthescammers/article-10013447/Scam-drams-Whisky-soaring-value-fraudsters-cashing-in.html](https://www.thisismoney.co.uk/money/beatthescammers/article-10013447/Scam-drams-Whisky-soaring-value-fraudsters-cashing-in.html) + +This FRAUD in the Whiskey market devalues the market and collectors pieces, meaning criminals capitalize on innocent peoples money! Here's a brief breakdown from the below link. + +Headline: "Can NFTs Provide a Fraud-Proof Marketplace for Bourbon?" + +Link: [https://vinepair.com/articles/nfts-fraud-proof-market-bourbon](https://vinepair.com/articles/nfts-fraud-proof-market-bourbon/) + +“At the end of the day, the biggest hurdle is around authenticity,” one BlockBar founder told Newman. Without NFTs, “there’s no way to prove it unless the next person tests the liquid, which kind of ruins the whole thing.” (BlockBar didn’t respond to a request for comment; Glenfiddich’s parent company, William Grant & Sons, declined.) Because these 15 tokens originated with Glenfiddich, and that record can’t be manipulated, Scotch collectors can confidently buy and sell the physical bottles without ever scrutinizing or even taking receipt of them in person. + +What's been GameStop's biggest headache and something that we have been screaming about since Jan 2021?... + +# FRAUD IN THE FINANCIAL SYSTEM NAKED SHARES THAT ARENT REAL BEING USED TO SHORT GAMESTOP! + +... + +So here's the team helping tackle this FRAUD! + +&#x200B; + +Here's the Team: + +&#x200B; + +[Dan the man Wang!](https://preview.redd.it/s7yw5e4bkfy81.png?width=694&format=png&auto=webp&s=bff92ad7490c6b249c852e4d685e37b187b4809f) + +&#x200B; + +For those unfamiliar with CRYPTO and been living under a rock for the last 15 months, you will probably ask "WHO TF IS DANIEL WANG!" + +&#x200B; + +[Who is DAN?](https://preview.redd.it/wvfm3hn2mfy81.png?width=685&format=png&auto=webp&s=71c357b395f97330dace83791d9822322ec0d2ad) + +If you still confused and have no idea, GameStop and Looping have a partnership. + +&#x200B; + +[https:\/\/www.fxstreet.com\/cryptocurrencies\/news\/loopring-price-explodes-after-partnering-with-gamestop-202203231337#:\~:text=The&#37;20GameStop&#37;20partnership&#37;20with&#37;20Loopring,security&#37;20while&#37;20low&#37;20gas&#37;20costs.](https://preview.redd.it/axjzdxzknfy81.png?width=678&format=png&auto=webp&s=41d44a6cb6c9de6175bb2f2d3f29f1f304e042cb) + +&#x200B; + +So I was looking at the past for this Whiskey NFT Fund and It seems to link back on dates relating to RC's Whiskey post + +&#x200B; + +[September Whiskey post from RC](https://preview.redd.it/odz8u9h0lfy81.png?width=602&format=png&auto=webp&s=b81c98f3aba79b63480190e26ab87147b4e17273) + +&#x200B; + +First mentions of this fund? + +&#x200B; + +[September](https://preview.redd.it/h4utg1h8lfy81.png?width=725&format=png&auto=webp&s=a6706dd80b51682736870f59c2cf154dff16a597) + +&#x200B; + +BOOM! MIC DROP! September just like RC's first Whiskey TWEET! + +&#x200B; + +BUT wait?!? What else is another name for Dan the mans surname WANG? + +&#x200B; + +[Wee Wee?](https://preview.redd.it/rdmaeqbemfy81.png?width=186&format=png&auto=webp&s=42f676083c35dcf97c0387c4aa6aa47283c04ad7) + +well... + +&#x200B; + +[I'm really digging here...](https://preview.redd.it/vsnq5s8tmfy81.png?width=891&format=png&auto=webp&s=12b6ae1bf9be52cdd57c8d849ea57605cae0b102) + +&#x200B; + +[THERE it is!! Wee Wee is another word for Penis or WANG!](https://preview.redd.it/bpoydrdymfy81.png?width=906&format=png&auto=webp&s=cd4511b893e74d32bd21482348ca4de6028c3204) + +*Disclaimer: To Daniel Wang I'm sorry if this is a complete BS run down but damn the coincidences are wild! I'm not trying to make fun of your Surname! If I'm onto something here float me a Ternion anonymous award! lol! I'm very skeptical that the man will float one of those awards this way but if this post does get some crazy award we could be digging into the right stuff!* + +# What has RC been going off regarding Wee Wee or Daniel Wang? + +Here are RC's tweets in order that I think could be related: (Just excuse me I'm not using my normal "Funkle" Twitter account for these screen shots) + +&#x200B; + +[26 September](https://preview.redd.it/0ifrydwvpfy81.png?width=564&format=png&auto=webp&s=a408bf1267aa0f25dd6c9c5d7317b9ff695c074d) + +&#x200B; + +[\\"Hold\\" just like in the Whiskey breakdown above! and Wee Wee \(Wang\) straight after each other.](https://preview.redd.it/7bi27twzpfy81.png?width=559&format=png&auto=webp&s=e063cb3c08b4cab74c0404fafa7d4d7b60c81b3b) + +&#x200B; + +[Magnifying glass? Want us to look at your Wee Wee? \(Wang\)](https://preview.redd.it/vkpl00pnqfy81.png?width=533&format=png&auto=webp&s=9f1589eb3525453ad9df86885c835ba7227cec2c) + +&#x200B; + +[Maybe since the LRC and GME partnership RC has been underplaying his Wee Wee \(Wang\). Not many people like a guy that rates himself or his penis size. Its better to rather say its small and then shock the audience when they get a live viewing. ](https://preview.redd.it/5i4oprohvfy81.png?width=619&format=png&auto=webp&s=69ae95e5a49c2869ee2fbf297ff8a6b820ba216d) + +Oh my sack! My wife is going to slap me when she sees my browser history but here is another link to another RC tweet below! + +&#x200B; + +[https:\/\/www.insidehook.com\/article\/sex-and-dating\/men-underestimate-penis-size](https://preview.redd.it/ry63a7jzvfy81.png?width=585&format=png&auto=webp&s=2ad631e5d9669529942cb7d6ba8bc23f212c440c) + +Quote taken from this article: + +"Before I go any further, allow me to state without equivocation that there is [**nothing wrong with having a below-average-sized penis**](https://www.insidehook.com/article/sex-and-dating/boyfriend-dick-penis-size). Most women [**do not achieve orgasm from penetrative sex alone**](https://www.insidehook.com/article/sex-and-dating/men-should-use-vibrators-during-sex), so in that regard it’s arguable that size does *not* matter. If their penis-packing partner’s unit is on the small side of the spectrum, [**different positions can make penetrative sex more pleasurable**](https://www.healthline.com/health/healthy-sex/small-penis-sex#for-oral-or-erogenous-fun) for people with a vagina. There’s also oral sex, foreplay and many other kinds of non-penetrative sex acts in which the penis (regardless of size) doesn’t take center stage. Not to mention, there are plenty of people who genuinely prefer a more modest-sized member. " + +&#x200B; + +[YES and RC tweeted about about sex positions](https://preview.redd.it/2ecj39o7wfy81.png?width=595&format=png&auto=webp&s=86e5ccfaed4f32f30e15398a40f00fff5d946d31) + +&#x200B; + +Maybe he is referring to Dan Wang being a real big dick all along and we are going to be shocked/amazed when we get to see this Wang in full force, I'm betting that some amazingness lies in wait for us as retail investors. You may not need a big Wang to get the "job" done but if you know what you are doing you will get the job done right in the end... leaving everyone happy... + +**Edit TLDR:** + +**Whiskey link from ICOHOLDER where Daniel Wang (Loopring) features as the CTO for the fund literally says BUY and HOLD! Loopring and GME have a partnership (no shit sherlock). Whiskey NFT offering is to weed out fake whiskey from the market. Fraud whiskey on the market affects the collectors market. NFT's to be released to authenticate genuine whiskey.** + +**Apes and retail traders have been screaming about fraud and illegal activities in the financial markets. Almost like the same is being done to fight illegal activities in the Whiskey trade. NFT's for the win!** + +**Ryan Cohen tweets about a small Wee Wee & Wang is another term for Wee Wee/penis (Same as Loopring Daniel Wang surname). Cohen tweets about a small wee wee and does a post about 69 from Wikipedia. Online sites say no problem as wee wee size doesn't affect pleasure. Dan Wang probably have really big wee wee, and going to unleash it on the Market... because you don't brag about a having a big wee wee (Dan Wang) if you have one. We in for a good surprise when everything LRC and GME have been working on gets unveiled.** + +**This could be links between RC whiskey Tweet, RC 69 tweet & Wee Wee tweets.** + +&#x200B; + +Tinfoil session over and out, + +&#x200B; + +Funkle +A ton of Bitcoin services tries to localize to every language. The problem with that is that they often don't do it correctly. Even if the translation is *technically correct*, it still may not sound fluent. + +These things things do make a difference. **In Germany, shitty translations are strongly associated with scams.** (Probably elsewhere too, but I can't speak for that.) **If you can't get your localization perfect, don't localize to German**. Most people know English. If they don't know English, they are likely older and already sceptical towards Bitcoin. If it's English, they might go away because they don't understand it. If it's shitty German, they *will* go away because it feels like a scam, and they will associate Bitcoin with it. + +Coinbase is advertising an "**Unreliable solution**" (instead of trustless solution) and "**Busy function**" (the English term is "feature full", which is supposed to mean "full of features", but they translated it as "the feature [is] full [of something]". + +**Do it right, or Don't. Fucking. Localize. To. German.** I suspect the same also applies to Nordic countries (and any other country where English is wide spread). For countries where most people don't know English (e.g. Spain, I think), sure, translate and translate shittily if you really can't afford to get it right (it probably pays to get it right, though). For countries where people speak English, just use English. The benefit even from a perfect translation might not be worth it, and a bad translation *will* hurt you. + +Examples why you need a really experienced translator: It is often a better idea to use English words than to try to find German equivalents. If you're writing about a technical topic - even to an inexperienced audience - and there are no English words, you're likely doing it wrong. There are also technical terms that need to be translated correctly - for example (bad example since it's not really true anymore), a "shopping cart" in an online store should be translated as Warenkorb (~shopping basket), not Einkaufswagen (shopping cart) and certainly not "Einkaufskorb" (different word for shopping basket). Depending on what you do, it will just sound weird, make people *think* to figure out what you meant, or make it impossible to figure out. + +An anecdote: +I've often met people from other languages who are surprised I use a localized OS. The reason is that the German localization is *good*, the localizations for their languages are so shitty that anyone who speaks English uses that instead. +"As many of you now are aware, an economic crisis faces the world's finance institutions driven by various Hedgefund trading behaviors resulting in catastrophic losses across the market. The shining center of this explosion includes our company, Gamestop. And while I can assure you, this is in no way the fault of our staff or our stockholders, it is important that we offer you our perspective in these trying times. Many of you have come to know Gamestop as an aging brick and mortar videogame retailer. Our real story is much grander. + +We sold videogames, but more than that-- we sold dreams. We sold fantasies. We sold intense competition and strict rules. We sold worlds, stories, depth, and exploration. We sold memories, connection, love and war. All for the price of a CD--and now digital download. While some hedgefunds chose to bet against us for the things they could see -- perhaps the pandemic or our past debts; Others, bet on Gamestop -- with their minds, their hearts, their hopes, and their dreams. + +Gamestop, for all its flaws, managed to connect with a generation of people who enjoy videogames. How fitting it is that they grew up to be our passionate stockholders who want our company to succeed, helping to stave off bankruptcy, debt, and predatory wallstreet practices. All CEOs would wish for a group so passionate and prepared. Because, as you are now aware: if you tell *our* stockholders that you are willing to take *infinite* risk, they'll believe you. They'll spend hours combining their time and expertise for the benefit of complete strangers. They'll scrutinize every filling, every number, spreadsheet, dataset, google traffic data, every lit window. They'll look at every rule, find every flaw in your system, any way to get an edge.(Shouldn't Wallstreet be proud?) And as every game developer will tell you, they'll *have a blast* doing it. + +For a generation we raised these kids for you. Turning them into incredible strategists, thinkers, and cooperators. Ready to use their skills and knowledge to help a teammate in need. A generation that grew up sharing their knowledge to build eachother up--one set of random teammates at a time--is the antithesis to a system that pits each man against one another. The world we live in doesn't often reward their talents, but they chose to reward each other. As the records now show, many chose to forgo selling more than a few shares, so--they also chose to share the wealth they gained--fitting for a generation that spent millions of hours playing within systems that encouraged fairness, rewarded performance, and punished cheaters. + +We formally apologize for any inconvenience their passion for those values, and conviction for holding stock, may have caused you. We apologize for giving them the tools they needed to explore every possibility, and accomplish any goal they set their mind to, to think critically, to connect, play fair, get along, and to have fun. And lastly, we apologize that they won all of your money fair and square. + +Power to the Players." +They are going to have a hard time explaining this one. 😆 in other words….. Shorts r Fukt. + +You are supposed to buy when the price goes up and sell when the price goes down. These are the basics/s + +Remember when the buy button went away? Now the sell button went away. + +Remember when the buy button went away? Now the sell button went away. + +Remember when the buy button went away? Now the sell button went away. + +Remember when the buy button went away? Now the sell button went away. + +Remember when the buy button went away? Now the sell button went away. +Bitcoin still being on 29k shows that it's quite struggling to make a V-shaped recovery after hitting high support levels on 25k. Bitcoin got constantly rejected at ~31k the past days and it does not look like anything is making a fast recovery just now. + +Crypto prices, as every other financial asset prices, are completly dependent on the state of the human psychology and that's dependent on how the world is doing. The past months we have just been adding more and more macro-economic tensions. Starting with FED rate hikes, Consumer Inflation, Russia-Ukraine to now China supply issues. Also Don't forget that Covid is still here. + +It just does not seem like any of those will get better any time soon. Covid stays still, Russia Ukraine is having no progress in peace, FED won't stop till inflation is down. Obviously things could change and Crypto pumps to the moon, there is no certainity, but the probability is that things will keep worse before they get better. +There appear to be issues in segnet (Segregated Witness testnet) where by the network-topology forks into two groups (segwit and non-segwit). + +Since communication doesn't bridge between these groups effectively, block announcements *are not* flood-filling the segnet as expected leading each fork to mine their own subchain, until finally a major reorg happens. + +As a blockchain developer, and someone who has used testnet and mainnet for storing assets (color coin), I know there are significant differences between the testnet/mainnet and it is *unclear* what effects Segregated Witness would have if activated on mainnet. + +Since the network literally forks into two groups, it is essentially a hard-fork. Would not the best approach be to implement a clean hard-fork for segwit rather than letting non-adopters linger in an unreliable, high-orphan subnet which reorgs unpredictably? + +**[UPDATE]** I've been banned from r/bitcoin/ as a result of this post and am unable to respond to posts directly, only edit original. In response to /u/nullc post regarding fungability, he does not seem to understand that authoring an SW transactions raw is totally different than non-SW transaction. There will be a demand for non-SW UTXO's since only they can be spent by existing infrastructure that do protocol manually (like my blockchainsql.io). + +Bottom line is, would you invest in a city that is losing population and is solely dependent on 2 industries, healthcare and defense, if you're a cash flow buy-and-hold based investor? +Married, 27 years old, household income around $80k, current accounts are as followed: + +Assets +Emergency fund - 3 months expenses in Wealthfront savings account +401k - $12k +Chase You Invest - $6k currently sitting as cash because I’m not sure what to do + +Debt +Student Loans - $26k at 5%, payment is currently $270/month + +My goal is to purchase a rental property in 2-4 years. Most likely around the $125k range. I know I’ll need the 20% down payment plus closing costs, cash for reno, and enough left over to cover 6 months expense for vacancy or any other issues. I believe I’ll need between $35-40k to be ready to purchase a property. + +My wife and I are saving about $1200 a month, sometimes a little more. We are very frugal and have minimal debt. I’m just kind of stuck and keep going back and forth on what I should do savings wise to make sure the money is protected but speed up the process with some passive growth. Wealthfront at 2.07% is an option but I’ve been thinking about Vanguard ETFs as well. I know ETFs are more risky, especially if a recession happens, but I won’t be ready to buy for at least 2 years so hopefully by then any big drops will have all gone back up. + +I thought this might be a question for an investment page but the goal is to buy rental property so I put it here. + +Any advice on what I should do is much appreciated! +Posting again here since I thought might get more advice this time. + +I have been thinking of co-investing mainly because my own savings are not enough to buy a property by myself. I think real estate is a good asset class to invest to build wealth long term but don't want to wait forever to start investing. + +Appreciate any advice on co-investing and what to keep in mind. Thanks! +Looking at purchasing a pre-1960s house that certainly had an oil tank at one point. No tank removal permits were found. We have a oil tank sweep inspector coming, but those aren’t 100%, since not all areas can be scanned. + +What do you guys do if there’s no eveidence of an oil tank found? Assume it’s fine? Or be pessimistic that there is probably one there? + +Any general advice about tanks would be appreciated too. +Anyone have experience leaving your job because of your rental income? I’ve thought about what number I would need and wonder about expenses unforeseen after I leave. I have thought that 20k a month coming in would sustain me for the next 20 years or so. I’m at a pint where that could be doable soon. Saving 5k a month off that 20k to buy the next property over time. + +What about health insurance? This is really my biggest fear with young kids. Is Obama care any good? Could I get a group policy for a small realest business with two employees; my wife and I? +Hello everyone. I'm 24, I've never owned a house or had a mortgage. I do understand that with FHA Loans are popular for first time buyers but that the loans are only if you are going to be living in the property. Rather than buying ourselves a house we would rather invest in a fourplex and rent all 4 of them out. We currently live in a little trailer and would continue living in it. We would be mortgaging the fourplex which costs about the same as the houses in the market. Now, I'm still new to real estate, but do want to learn more. I wanted to know if this is a smart idea, and if it is possible to get a mortgage as an investment property as a "first time buyer". One thing is I do have excellent credit which should help in acquiring a mortgage. Any advice is appreciated. Thank you! +Hi real estate gurus- I'm going to likely sell one of my properties seller-finance. Can I pick your brains on the following please? + +Terms: the building is approximately 85k and the realtor suggested 50k down up front and we carry-back a note on the other 35k at 6.5% with 2 points up front, interest-only for a period of 18 months with a balloon at the 18 month mark. Does this seem reasonable? First time doing this, so please go easy if these numbers are crazy. + +I/O loan: Sorry, I'm not 100% understanding this this... if the buyer pays down more than just the interest portion of what he owes each month (thereby chipping down on the principal owed to me at the end), his next monthly interest amount will also decrease, right? Our realtor seemed to suggest otherwise (and/or doesn't 100% understand how loans work.) + +Nuts/bolts of this: how does one actually set up the interface for accepting loan payments? Do I just literally keep an excel spreadsheet and write down how much I received, what his principal is, etc., or are there third-party services that manage all this that you recommend? + +Please go gentle with these n00b questions, first time doing seller carry. +let me start by saying I have 4 single family rentals at the moment and am not in a financial bind by any means. I never thought about selling it till the family that's in gave me a 30 days notice. + +so here's the stats. + +(rental) total monthly payment = 1298 at 2.75% I still owe 168,000 its worth 460k, **rent = 2300$ monthly** + +(Primary) total monthly payment= 2077 monthly at 3.5% I still owe 296,000 its worth 556k. + +my wife's argument is that the rental gives us a cash flow of about 1000$ per month. if we sold it and paid off our primary it decreases our monthly expenses by 2077$. I argue that houses are becoming more difficult to obtain, we don't need the money and she's not factoring in taxes. +Ive always enjoyed mathematics and it seems like it could be a big asset in making the best decisions. But it seems that all of that math used that i here talked about in real estate as being fairly low level. I see multi variable optimization as being a super valuable tool, but i cant find anything that talks about it in the context of real estate. There also seem to be a lot of recommendations that are shared indiscriminately but if you actually start crunching numbers you find out that these recommendations are contingent on a lot of assumptions. So yeah does anybody use higher math to analyze real estate investments? +Selling a property I own outright and the buyer is asking me to carry a 3-year note, with a ballon payment at the end of 3 years. The note would be secured by the property, I would have first lien. Any reason *not* to consider doing this? It seems like a win-win in that I collect 3-4% per year and if the buyer goes into default I get the property back. I would put some reasonable restrictions in place to prevent the buyer from doing anything that would materially adversely impact the value of the property until the loan is paid in full. Any advise is appreciated. +Married, 27 years old, household income around $80k, current accounts are as followed: + +Assets +Emergency fund - 3 months expenses in Wealthfront savings account +401k - $12k +Chase You Invest - $6k currently sitting as cash because I’m not sure what to do + +Debt +Student Loans - $26k at 5%, payment is currently $270/month + +My goal is to purchase a rental property in 2-4 years. Most likely around the $125k range. I know I’ll need the 20% down payment plus closing costs, cash for reno, and enough left over to cover 6 months expense for vacancy or any other issues. I believe I’ll need between $35-40k to be ready to purchase a property. + +My wife and I are saving about $1200 a month, sometimes a little more. We are very frugal and have minimal debt. I’m just kind of stuck and keep going back and forth on what I should do savings wise to make sure the money is protected but speed up the process with some passive growth. Wealthfront at 2.07% is an option but I’ve been thinking about Vanguard ETFs as well. I know ETFs are more risky, especially if a recession happens, but I won’t be ready to buy for at least 2 years so hopefully by then any big drops will have all gone back up. + +I thought this might be a question for an investment page but the goal is to buy rental property so I put it here. + +Any advice on what I should do is much appreciated! +I have a duplex that is about to be available to rent and I obviously want to get quality tenants. I wanted to ask about (1) screening tools and (2) any other advice on what to look for, consider, how to not screw this up, etc.. This Covid situation has me concerned as I live in a very pro tenant city. Also this is my first post here so thank you in advance. +Right, so I saw a 2 townhome in kinda interested in but it's for sale by owner and cash only. It's an investment property with 4 Tenants and per owner generating about slightly under 4k with the two house cost of 270k with 6k taxes. 4 diff apt. Sold as is. Does this mean I can't inspect? I never bought/looked at house cash only. Owner states movingout of state and don't want it anymore. I clearly don't have 270k in my account but I am kinda interested. Can I get some sort of loan that can work with cash only? I hope he don't mean literal bag of cash. I have excellent credit, would mortgages not count? I know I can get one.. I'm kinda confused about funding here also if this is a bad idea... +First time poster on this sub. I’m 26 years old and I have recently bought a rental home that cash flows about $350/month after all expenses (taxes , mortgage, insurance , repairs etc.). I bought it a little under 2 months ago and have a quality tenant in there with lots of demand for it should they move out. I’m interested in figuring out how to go about getting a 2nd rental home. I put 25% down on the first, and with all closing costs spent about $35k on the deal. This makes the obvious next step of saving another $35k, which may take another 2 years. I’m trying to understand what my options are on either leveraging that rental property to finance another, or finding a way for less than 25% down on the next rental home. Here is a snapshot of my current finances in case that helps. I currently make between $70k and $80k. I put 15% of my gross into a 401k where only the first 6% is matched at 2.4%. I have $3,000 saved up so far, and can save $1.25k-$1.5k a month towards this. Thanks in advance for the advice! +So I purchased a 4 bed room house 1.5 bath in DSM for 122k with my mortgage at 2.75% (monthly payments with utilities are 895 a month) and rent the house out for 1300/ month. + +Is this how people normally start or am I missing something major and not accounting for an expense. Is 400 roughly a month profit normal or how much should I budget for maintenance? + +It feels way too easy right now. I just have to be missing something. +Pretty much what the title says. I recently purchased a house at 350k and put about 60k in renovations into it. The house was purchased through a pocket listing and was undervalued. A few real estate agents think the house could now be worth between 525k to 550k with the renovations. My question is; since I only bought the house about 3 months ago, should I get an appraisal on it and have it reassessed in order to get rid of the PMI? Also, would I go through the lender or just do the research on my own to get a new appraisal? I’m looking to keep this as a long term rental so any extra cash flow is obviously my main objective here. +I have my condo listed on Facebook marketplace and I also would like to charge an application fee that will go towards background screening and credit check. + +Meanwhile, I am getting interest from people who, based on their Facebook profiles, aren’t the kind I want as tenants. + +Any tips? It feels unfair to let them spend $ on the application fee when I know I don’t want to do business with them. + +Thanks +Hi all, I haven't broken into real estate investing yet, but would like to soon. I've got enough saved to buy a local multi-family, and have my eye on some cash-flowing ones. + +However, I'm a little nervous about the business side of RE investing, as I'm an introvert and think I probably have low emotional intelligence. My day job is writing software, and I invest money in the stock market right now. My hobbies tend to be individual ones, like biking as I was never very good at team sports. I'm worried that I don't have the natural/acquired skills to negotiate deals, find tenants, or deal with difficult people. + +I do have a small circle of friends, and co-workers say that I'm enjoyable to work with. But is this enough to make it in this industry? I'm not charismatic or ballsy like I picture business/real estate people are. + +Any other introverts out there? +I have an aging relative in kentucky that asked if I would like to purchase their house. I would. It’s a great investment house. However in talking to this relative she mentioned that she is putting in the deed that the house can’t be resold. I’ve never heard of this. Can she do that ? I don’t know what the future holds and while I don’t intend to resell it immediately I don’t want to not be able to sell it either. Can she do that ? +About 5 years ago we purchased a foreclosure home as a vacation property. We gutted and re-did the whole house over these past years. Then we decided we're not using it as much as we thought, gas to get there/back is $200 AND if we sold it we can pay off our primary home's mortgage. + +It was listed on Monday and we got a bid in less than 24 hours. We countered and they agreed. + +We don't owe $1 on the vacation home so mortgage free living, here we come! + +(and if our income stays the same this year as last, we owe $0 in capital gains tax). +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. +howdy folks, im looking to start putting money into the market each week with my check. Im mainly looking to just buy it and forget it until im decently older. I understand that an etf itself usually tends to be diverse in their own holdings, but is it a better idea to buy different etfs or would just dumping my money into SPY for the next however many years be just as good? + +Thanks for any advice :) +I've taken Principles of Macro so far and I really see already why this is called the dismal science. How do you guys who are farther ahead in your studies rectify this problem? +I know that this seems like a poll-y type question, but I'm genuinely curious to see some of the solutions /r/economics comes up with + +I'm not sure what I would do to be honest, every action is going to hurt someone. + +I guess I would add a tariff to foreign goods, this would eventually increase the amount of products made in America, presumably increasing the number of jobs which people have. This would also increase government revenue, perhaps even allowing a budgetary surplus (no hahaha just kidding about that, they would just buy more battle ships with the new money, because the political advantages of that outweigh the negatives) + + However, as sound as this seems on paper, I'm not sure how I feel about it in practice. Its the same relationship I have with farmer subsidies, they keep crops cheap enough so that the poorest can afford some high fructose corn syrup laden food, which is awful for the body, but somewhat better than absolutely nothing. Similarly here, allowing cheap foreign goods to be sold competitively allows them to be very cheap, letting the poor afford clothes and other products. + +In theory the average pay would increase to match the increased cost of goods, but people would be inevitably left behind and forced further into poverty. + +I'm no economist, so I'm sure there's a problem with what I said, but I posted this to learn, so feel free to tear it apart + +**TL;DR : Foreign Tariffs = jobs and money ** +After reading this news article I feel that all the signs are pointing towards a huge bubble waiting to be burst. What do you guys think? + +Banks don’t dare to lend to these segment of the market, so the developers set in to SELL and PROVIDE the LOAN at the same time to these consumers. And this can be up to 90% loan value of homes that cost over 1mil USD. + +https://www.scmp.com/business/article/3011167/tightened-mortgage-lending-has-pushed-hongkongers-arms-cash-rich[article](https://www.scmp.com/business/article/3011167/tightened-mortgage-lending-has-pushed-hongkongers-arms-cash-rich) + +Highlights: + +Penny Li, 35, a finance professional, ended up buying a smaller and more expensive new apartment as she could not get a mortgage for an old home in a better location that she had her eye on. With an initial deposit of as little as HK$1 million (US$127,404), she secured a 530 sq ft home that costs HK$9.4 million. +The developer is providing 90 per cent of the mortgage. “If it were not for the extra loan offered by the developer, I could not have bought this home,” Li says. + +——————— + +The average income of a fresh graduate in the city – will need to save up for 12 years for such a down payment without using a penny of their income + +——————— + +Mortgage loans for new homes provided by banks inched up 1.5 per cent in 2018 to HK$84.9 billion. But the proportion of loans for new homes offered by non-banking financial companies, mainly cash-rich developers’ finance companies, jumped to 21.7 per cent of the total in 2018, up from 14.6 per cent in 2017. +———————- +The wearable camera maker tumbled 26% in after-hours trading yesterday after trimming its guidance and announcing it would cut its workforce by about 7%. "Fourth-quarter revenue reflects lower-than-anticipated sales of its capture devices due to slower-than-expected sell-through at retailers," GoPro (NASDAQ:GPRO) said in a statement. The company now expects Q4 and FY2015 sales of $435M and $1.6B, respectively. +Hello! I’m 22 years old, and I’m thinking about starting to invest. I have no clue where to start, and my parents are *really* bad with their money so I don’t know who to ask or what to do. I want to be able to retire someday and I want to put my money to good use. I know starting early is the best option. I just don’t know where to start. Any help would be appreciated! +ETH price has been quite stable for quite some time -specially if we consider crypto time. Will ETH's value ever come anywhere near BTC's? + +What do you think? +I'm about to invest in more Ether, the only reason i feel it has value is because of its Microsoft/IBM affiliations and anything mentioned in the noteworthy articles coming out nowadays (ie: the recent uber like thing) + +Yeah, its pretty surface level stuff i'm sure, but my skill sets cant grasp ethereum to the extent that some of you can. + +If perhaps, the value assessments of everyone were to be listed out, I would then speak of Ethereum with others and use examples that are the most approachable for the non cypto folk. + +What gives you hope of its future value? +Welcome to the Weekly ICO Discussion thread of /r/EthTrader. + +*** + +The thread guidelines are as follows: + +- All sub rules apply here so please review our **[rules page](https://www.reddit.com/r/ethtrader/about/rules/)** to become familiar with them. The rules page is also linked in the announcement bar above. +- This thread is intended as a welcome place for discussion of current and upcoming ICOs. + +*** + +Enjoy! +I've noted that the majority of this sub is focused on either short/long term price projections or vague talk of having a belief in the vision of the project itself. I think it would however be a more interesting and beneficial exercise to highlight and scenario-model exactly which risks would pose a existential threat to this project - i.e. something which can suck enough confidence out of the market to make the price plummet to $20 or kill it off entirely. + +Secondly, it would also be particularly beneficial if we can also highlight what the "early-warning indicators" of such risks may be so that we can identify them before they materialise and impact our investment. It's better to do this now with the clarity of mind rather than in the ensuing chaos which may happen. An example of this would be identifying a particularly influential US politician or regulator who's behaviour or statement may indicate a coming regulatory crackdown on cryptos. + +I'm not even close to an expert but I've listed a few here based on what I've read on this sub but I would be very grateful if others could also highlight others + add contextual depth to what I've listed below: + +* **Fundamental bug:** Something which renders the project entirely unreliable +* **Co-ordinate hacking:** Orchestrated not by for-profit market manipulators but by a malicious party seeking to destroy the project - i.e. a state-sponsored group or rival currency. +* **Regulation:** Regulators cracking down on cryptos. It would be particularly interesting to understand any early-warning indicators of this risk materialising. Perhaps a statement or odd press release from somewhere? +* **Vitalik:** Him pulling out of the project, being arrested, etc + +That's about it from me. If anyone has ideas on how potential market reactions could play out to the above that would be great but appreciate that's a tough / impossible task. + +On Monday morning I decided it was time to move my ethereum to my wallet on my computer. So as the unconsciously I copied my coinbase wallet account then pasted that into the sending address on poloniex (for some reason it sent in USDT). And after a week of both panic and frustration I am told "we will not be able to return any alt-coin funds accidentally sent to Coinbase-controlled addresses" so the moral of this story is be careful and think about what you're doing before you do it. Now I have nothing. +I think many people are confusing this most recent downtrend with a bear market, but they couldn’t be further from the truth and even worse, could miss out on some big gains: + +1) We have to realize that crypto has gotten big. It has caught the attention of institutions now, which means it will be TREATED LIKE AN ASSET ON THE BALANCE SHEET OF BIG INSTITUTIONS. I think we can all agree that crypto is considered a high risk asset class compared to other asset classes. During times of fear or uncertainty (“risk off environments”), institutions will rebalance their portfolios where they will sell off risky assets (crypto, tech stocks, growth stocks) and move towards more conservative investments like value stocks. Can we see evidence of this? Of course. The same sell off we’re seeing in crypto over the last month or two is the same we’re seeing in tech/growth stocks like Tesla, Netflix, etc + +2) Why is there all this fear and uncertainty in the markets? Multiple reasons: fears over monetary tightening, rising interest rates, evergrande fallout, potential delisting of Chinese equities from US exchanges, etc + +3) Bitcoin crashes and Altcoins COLLAPSE during bear markets. When I say collapse, think of a balloon totally deflating into a thin piece of rubber. Bear markets look totally different than what we’re seeing. Projects like ADA and Algorand still being >$1, ETH still above $3,500, MATIC >$2, and so on show us that altcoins have not even come close to collapsing. Go back and look at what prices of these coins were like in the 2019 bear market. + +4) Sentiment will be absolutely devastated in a bear market. Posts in this sub will hardly get any attention. The suicide hotline will be posted. People who once were so bullish and enthused about crypto will eventually succumb to the fear narratives and forget about the space. + +Are we there yet? No. We are in a downtrend and not a bear market.the crypto markets are so short memory that they’ve already forgotten we just went through the same type of period in June…. + +TLDR: HODL +Howdy, + +I'm new to the stocks/investing. I've been using Youtube, TikTok, and lurking this reddit to learn more about stocks before I dive in. I want to start investing in stocks in 2023. I was hoping maybe I get some beginner tips and was curious what some good stocks for 2023 would be good to look into? I was reading a thread on here that say Google might be a good stock to take over Meta. +I'm complete noob, a friend got me looking at this subreddit and the potential to get in early on new coins. I just read a comment on a post that at least 90% of coins mentioned here are scams and to DYOR. + +Are there clear signs that a mentioned coin is a scam? They use all the same words to me, and don't understand how you can tell if a dev is legit or not +Is this just something to do with switching to a new version of the coin? I don't know anything about it but saw a post saying they're switching the coin somehow to a version 2. + +Just curious why a token would go up 1000% in the space of a few minutes, while being relatively consistent otherwise. + +https://www.coingecko.com/en/coins/flashstake +The very best DeFi project that you'd bet your life on, at least 10x'ing this bull run. +\- Working product +\- No anon creators +\- Relatively low mcap + +Let's discuss! + +(NSFW for excitement purposes only) + + + + + +Have been following this project for the past few weeks while they've been developing and the project just went LIVE this week. Team has been impressive in building community trust with all their actions thus far and has been great at taking input from community and implemented into the platform. Community vote next week to adjust APY% how we see fit. I know everyone is weary of any "Y" projects lately but I highly suggest giving this one a look! Everything is locked and team even burned their tokens a week or so ago (proof links below). YFP tokens are continuing to burn as the platform is live. Market cap still under 2.3M at the time of this post. CEX listings coming very soon; team has been in contact with many exchanges. + +Copied some of the info from their TG pin to share below. I'm not part of the team. Simply been keeping tabs on them and accumulating more as they've continued to earn my trust. DYOR. + +Website: https://www.yfprotocol.finance/ +Twitter: https://twitter.com/YFPFinance +Telegram Channel: https://t.me/yfprotocolann +Telegram group: https://t.me/yfpofficial +UNOFFICIAL Price discussion group: https://t.me/YFPro + +CoinGecko! https://www.coingecko.com/en/coins/yearn-finance-protocol +BlockFolio: https://feedback.blockfolio.com/coin-requests/p/yfp-yearn-finance-protocol +Uniswap: https://uniswap.info/token/0x96d62cdCD1cc49cb6eE99c867CB8812bea86B9FA +CoinMarketCap: https://coinmarketcap.com/currencies/yearn-finance-protocol/ +LiveCoinWatch: https://www.livecoinwatch.com/price/YearnFinanceProtocol-YFP (all the basic details) + + +Updates (as of 9 Sept) + +(1) https://medium.com/@yfp.finance/token-migration-further-updates-e6b7a45d3b9f +(2) https://medium.com/@yfp.finance/token-swap-in-depth-review-995f2ed4e794 + +FAQs +https://docs.google.com/document/d/11hgImMGTVJh1HCNHZlAYhSQWaxWfaAnezdiSoyQQMaw/edit + +(1) First buyback has occured. +txid: https://etherscan.io/tx/0x66ac426c9cd5d2d485b79e91f7b887d1f0421960acb3c5d480d75af4747a856f +burn tx: https://etherscan.io/tx/0x2615fc1c980be449c7868907d17610c771a12159a85438bae238cbe1d68a36b5 + +Second buyback has occurred. + +txid: https://etherscan.io/tx/0xb6788ad2fbf96208714792da2cd5cefff3cf074fba4e4c259b345f2deadbfeb7 + +burn id: https://etherscan.io/tx/0x04bda1068619a3d189bf1b2ca9275ce697768c0de68c69fda9a1f9b8f1ae9c99 + +(2) 10% circulating supply of tokens has been burned. + +txid: +https://etherscan.io/tx/0xde59e379f2cd314f3ab6101b12e894f1d8f9a2c799efb1feeb63374e95333d99 + +(3) Liquidity locked for one year. +https://www.unicrypt.network/uniswap-browser/pair/0x049963a8c68D225DC03F32C299fcB1939173dFD3 + +(4) The team has burnt all 25,000 of the team tokens to increase the confidence of our community. At the market rate during burning, it was equivalent to ~200K USD. + +txid: https://etherscan.io/tx/0x2a5432260130d55a7f45d78cf242821578c42c527b0ad7e92a823b68cfcf1791 +First of all, when you think about it, Nasdaq only lost 7% in a month. That means the huge majority of smart money is still holding and doesn't think there's a reason to panic. When smart money panics, you have the covid crash. + + +Secondly, its important to understand why there is so much red recently. The main reason is the fear due to the rising 10 year old treasury yield. When we woke up this morning, it did spike in a scary way, but now its going back down sharply, we are fine: https://finance.yahoo.com/quote/%5ETNX?p=^TNX&.tsrc=fin-srch + + +Now, even if this stupid 10 year old treasury yield did not go down, most people would agree these fears are irrational. Check this quick interview: https://ca.sports.yahoo.com/video/philadelphia-fed-harker-don-t-011809466.html + + +Historically, the rates, they go down, not up. The fear of massive interest rates are irrational, and as i said earlier, its only ~7% of people who are pulling out of nasdaq, that's a small number of people who's irrationally fearful. Feds have been under their target of 2% for a LONG time, they aren't concerned about this. + + +Additionally, Biden agreed to tighten the covid stimulus requirements. This is good news because it means its less likely to over heat the economy beyond control. And when that stimulus does get released, its hard to imagine it won't at least give a small boost to the markets. + + + +I also think we need to look at the bright side. Historically, most crash happens when the market overheat. Corrections like we are having right now help avoid a real full breakdown of the market, and they help buy cheaper dips. + + + +I also think there is a decent chance our buddy JPow props up the market today with his speech ;) +New to options, pretty familiar with stocks (~8yr experience). Working with 70k trading account. + +Forayed with wheel strategies, with pretty consistent returns. Thinking about branching out and experimenting with HOOD IPO. + +Considering strangle, with buy-write to sell a covered call at 60st and also a short put at 45st. Don’t mind getting assigned at lower strike or called away at upper. + +My assessment: excluding fees/commission, upside limited to both premiums+call strike-share price, downside limited to 100% on 200 shares - both premiums (seems unlikely this early on in the game for HOOD). + +Right ticker for this kind of experiment, or take that money elsewhere? + +Any better strategies for the higher volatility? + + +Thoughts/opinions greatly appreciated. + +ETA: 8/13 expiry on both contracts +Thanks to all who commented and responded. +I'm 24 and make a very good income in a MCOL area. Realistically, I could feel financially comfortable buying a home in the next year or two if I wanted. + +However, the concept of homeownership has always been off-putting to me. I like being able to just call up the front office if anything breaks. I like not feeling tied down to a particular location if I decide to move. I like my area, but I don't see myself living here for the long haul. I like being able to live simply; I live far below my means and plan to retire in my late 40s at the latest, preferably earlier. At that point, I still don't see myself wanting to be tied down to a "forever home" but experience living in many different places (not just as a tourist). I don't see myself ever wanting kids. + +That said, the recent craziness in the housing market has me doubting myself. Rents haven't been hit too badly in my area it seems -- mine didn't go up when I renewed the lease last fall, and similar units are still around the same price on their website -- but the houses I see on Zillow have skyrocketed like anywhere else. Hearing that this isn't just a bubble, but likely the start of the new normal, has me questioning whether I am shooting myself in the foot financially by not planning to buy my very own four walls as soon as it is financially sound to do so. + +My main concern is that in the future, rent will be so expensive (yet homes still even more expensive) that I will have wished I had just bitten the bullet as soon as I had the chance. + +What do you all think? +Hi all, + +My name is Moe Levin, and I'm the organizer of the [Miami Bitcoin Conference](http://www.btcmiami.com). + +You can see a lot of important and valuable comments about Josh Garza speaking at the conference [in this discussion](http://www.reddit.com/r/Bitcoin/comments/2r0twz/josh_garza_must_not_be_allowed_to_speak_at_the/) and [in this discussion](http://www.reddit.com/r/Bitcoin/comments/2qu77k/dear_bitcoin_if_you_dont_like_scams_stop_giving/). + +I have a responsibility to the community; not only due to the prominence and importance of this conference, but because our community made us. So, our philosophy is simple: we put our community first. That means responding to concerns and addressing them head-on. + +I have received many emails of concern about letting Josh Garza speak. I sympathize, and would like for him to address those concerns directly. So, I have decided to let him speak, but will add an extra 30 minute question and answer period afterwards, so the community has the chance to confront Josh and voice their concerns. + +It’s at this time, more than ever before, that the bitcoin community is needed to ensure a bright and profound future for the currency. + +During the conference’s short, but action packed two-day agenda, you will meet and hear from the biggest names in the industry and powerful newcomers like regulators and bankers. Be sure to take advantage of the unique opportunity to make new friends, grow your network and seek out synergies. + +And last, but not least, **make your voice heard**. + +All the very best in the new year, + +Moe + +I am going to be concise as I can here everyone. I think RC is a cool guy and I’m glad he’s running things at GameStop. + +I buy and HODL because of the due diligence and fundamentals of the company… of which Ryan Cohen is just a part. + +The mainstream media is going after him because we spend a LOT of time here posting memes of him and his tweets and from the outside looking in he appears to be cult worshipped at times. I know this isn’t exactly true. + +I know for a fact you guys are going to HODL if they pin some horseshit on him or not. So let’s just do that, discuss the stock, discuss the fundamentals… and lower the amount of MSM target-response posts. + +He’s got the money to defend himself in ways so many of us could never. Don’t get distracted. + +Remember your training and you will survive!!! +APHA and TLRY sold off 20~30 % as soon as all the paper hands in this subreddit got a hold it it. These stocks are worth more than their current price (2/12, 8 minutes after market open). If you’re going to invest in these stocks, consider not selling instantly and ruining a good thing. Both of these stocks would see 20% gains then trade sideways before they got popular, now they dump every morning. Chill tf out seriously. + +Edit: “BuT i’M tAkInG pRoFiT” you’re not just taking profits, the retail market is clearly scared and is dumping. I take profits every day on SPACs and rarely see dumps as awful as this. Stop sharing your tickers, popularity is the enemy (unless you want your beautiful stonk to literally implode.) + +Edit2: You idiots assume I was late, cute ;) learn some fundamentals and you’ll understand why this isn’t a healthy trend. +Hello all. Throwaway for fatFIRE posts. + +\~18M NW + +edit: I am married and have 3 children + +Not RE yet but planning in possibly the next 2 years. Being conservative, most likely in the 25M range. + +I am looking for some advice from folks in the NW range where you are pushing the Estate Tax Exemption limits (10M+). I have not done any estate planning yet and my New Years Resolution was to get that done this year. + +I have met with an attorney who does estate planning and is also previously a CPA. I am looking at all the basic stuff (will, trust, living trust, living will, poe, etc) but I am running into a lot of questions about planning for the far distant future that I am having a hard time figuring out. + +For instance, some of the strategies don't come into play until much later in life, or put in place severe limitations to how I or my spouse can use the money in the mean time. I want to leave things open to making future equity investments and such, so having the money locked away seems "not good". + +How do you balance retiring so young but with so much? I definitely plan on making use of my moneyfor the next 50 years and obviously I also want to leave my kids a good amount and want to be smart about taxes and such, but to really get aggressive with this stuff you basically have to relinquish control of the money to where you can't really use it. + +Is anyone willing to share what they did in a similar situation? + +P.S. I am also looking into some referrals for estate planners who may be more used to dealing with fatFIRErs who are on the younger side. Haven't had much luck yet. + +&#x200B; +I get these so often and I'm not sure why, other than cold calls (posts) from this sub. But I'm not even very active in this sub, nor do I have a flair. + +So this isn't a very deep post but I'm just curious. How often do you get unsolicited requests for donations? + +**Approximate poll:** + +* a) never +* b) once or twice +* c) every couple of months OR several times total +* d) fairly often, at least once every 1-2 months +* e) at least once a month or every few weeks +* f) every week or more + +I'm E. I'm not sure if it's my post history, or what. Quite a few people tell me their mental health struggles and family history. I try to give a personalised response to each because they seem sincere but I'm getting desensitised to it. + +Just curious. No deeper meaning unless you guys would like to discuss! + +&#x200B; + +Edit: Thanks everyone, glad to know I'm not the only one! And I know the kind of comments I make that may elicit more of it or have people think that it's worth a try to ask, so I get it now. + +PS can you trolls who are DM'ing me come up with something more creative pls. I'd pay for that. +Has anyone tried the following (and how did it go or, if not, how does this sound as a fatFIRE idea?): + +1. Purchase a 2-3 bedroom smaller house/condo all-cash to limit to 10% of net worth in a premium location +2. Live in it for 2-3 years +3. Sell it and hop to another premium location with all-cash purchase +4. Do again and repeat to different worldwide locations + +Is something that people already do? Is this a dumb question? + +I'm single and thinking of various ways to be nimble and live in great locations before settling on an area and place while leveraging fatFIRE as well as keeping and growing equity. + +&#x200B; + +Edit: I should have added that turning the place into a rental or a travel home is another option for step 3 in this idea. +Edit - Made it verified only. I'm sure that'll result in getting downvoted to hell..but whatever. Had to give it a try. :) + +Hey Fatties, + +So my wife and I are starting a four year build process for our FAT home in Scottsdale AZ. We already own the property, and it is currently a luxury rental. The house is OLD, with a lot of lipstick on it. We are going to do a teardown and custom build. We are on a four year plan, with the first two years being architect, variances, permitting, hiring builder, etc....then two year build time. The non-land build cost will likely be between $2.5-3m. + +There are several things that make it a complicated project: + +* We are remote and will only be onsite once a month or so during the whole process. We will move to Scottsdale at the completion of the house (and kid graduating) +* The build is on a steep hillside with significant regulatory oversight +* This is our first FAT dream house and our first time doing a new build from scratch +* While we own some flooring companies, we don't have any relevant experience in new construction + +We have found it daunting so far to understand all the parts and pieces of the project, and how we can keep EVERYONE going in the right direction. Another couple that is doing a similar build with the same architect hired an advocate (attorney by trade + team) that oversees the ENTIRE project to make sure everything goes as planned. This includes engagement in every part of the project. Part of their "we will save you more than we cost you" is they run the bidding process for the home construction and help you do a comparison and select the right builder. + +Overall cost will be around 150-200k over four years for them to provide services. They will do weekly updates / job site visits, etc. + +Has anyone done this before? Seems like a no brainer for us due to remote, cost, and lack of expertise. Would love to hear feedback from other fatties. + +Nick +Hi all, + +Posting for some advice here - this week I've been going through a really rough time... We have a newborn and a 2 year old. This year the perfect storm hit - wife pinched a nerve and couldn't get out of bed, 2 year old got a fever and was home. I've been cooking, cleaning, driving to doctor, and not sleeping...I feel like I'm going to fall asleep and am getting depressed/feel despair... + +I am technically fatfire, late 30s (had a successful startup) work for bit tech company with generous parental leave. But I want to go back to work... I have dreams of doing my own tech projects and maybe launching another startup one day. But those dreams seem gone, I have zero time to even think about that these days... + +I really like my 2 year old and prioritize spending time with him. I realized that maybe I should use money to help with the situation... + +Maybe pay for someone to come and do laundry, dishes, cook and freeze food, walk dogs, do groceries? Any tips on where to find someone and how often they should come? I will put the new kid in daycare after my wife's leave. + +I was on the fence about having a second (wife really wanted one) mainly because I didn't think I could balance career dreams... I feel like I need to adjust life expectations now. Any advice on how to do both? + + + +As the title says, I am wondering how people view any equity appreciation in their primary residence as part of their FatFIRE. I guess the biggest part of the equation is if you are going to move or stay put, as that will determine if you cash out or not. + + +For those of us, who were lucky to buy a house several years ago, it is hard for the equity to not be a big part of the net worth, as market in Coastal California has been going straight up and with leverage, the returns on capital have been very good. + + +If you are thinking about moving, do you consider timing the market and selling as you approach FIRE, so you don’t have to take market risk in an illiquid asset class close to your goal? Or do you hold until you are about to rip the cord and then start thinking about selling, moving etc? + + +If you are planning on FIRE where you are, is equity in primary residence even a factor? i.e. if you have a $1 mn mortgage, your monthly payments with taxes etc. are likely ~$5-6k. That doesn’t include maintenance etc. So even if you have $1 mn in equity, it is kind of irrelevant, as you will need liquid savings to support $70-80k to just service the mortgage. So essentially, your net worth will have to be at a minimum $2 mn so that your SWR supports your house. + + +Finally, having prime RE is a pretty desirable asset. Especially in places like Bay Area, it is hard to see how the importance of technology will decline. So chances are most technologies of the future in both tech and biotech will continue to originate from there, continuing to generate a lot of wealth. Given aversion to building, keeping the residence even if you move, so you can rent it out, is pretty tempting. + + +Anyway, I am at least 5 years from FIRE, assuming RE market holds, but my equity in my house is a big part of it. + + + + + +And if you want to take this in a different direction, I am curious what your thoughts on the long-term trends in Bay Area RE are. Obviously this is all pure speculation, and we are all just guessing, but always good to read what smart people think about these topics + + +Positives: + +- Limited supply + +- Chances are that Silicon Valley will remain the global center for innovation in Tech and Biotech generating a lot of wealth + +- San Francisco/Bay Area still has meaningful room to go as far as affordability is concerned when you compare it to global cities. This is an old post, but gives you a sense how many more glbal cities are “less affordable” than SF (https://www.financialsamurai.com/the-cheapest-international-city-in-the-world-san-francisco/) + +- Foreign buyers want to be close to great universities and all the innovation + +Negatives: + +- I think it is possible that over the next 10-15 years we will see meaningful legislation that shakes up the market. Either repealing prop 13, loosening building restrictions, or banning foreign buyers, or some type of new taxes + +- Deflation of Tech valuations + +- Global warming impact on coastal places + +- Earthquake (although, if Christchurch is an example, RE prices will ultimately increase meaningfully) + +- People leaving to avoid taxes + +Throw away here... + +I'm finding it very hard to find a good advisor to help me with allocations in my portfolio. Having over 30mil to allocate, I’m not talking about super so much, but rather a good range of funds that have low correlation, and are tax efficient for Aus residents. + + +Im also quite international in my view as I’ve lived abroad for many years and will likely do so again in the future. The tax situation however prevents me from using overseas advisors and many funds. + + +Local planners/advisors however are overly Australia focused, many aren’t savvy enough to run a correlation matrix, or have very high fees or a too-active trading outlook. + + +Has anyone found a good planner/adviser that overcomes these issues? +Learned friends, a year ago I FIREd after the sale of our business put us in a financial stratosphere I never thought possible. I now have a lot of time (too much, but that's another post) on my hands and want to teach myself about things people with 15m of assets should know. I don't know where to start. If you all could design a year of study for POST-Fire knowledge, what would it look like? For example, 1 month on insurance/2 months on real estate/ 1 month on taxes, etc. I don't really know where to begin in figuring out what rich people should know that I don't, as silly as it sounds. I should add that we have an AUM advisor (I know this is a debate, but not hopefully the focus of responses) and so I am more focused on knowledge that allows me to supervise and evaluate performance, rather than the mechanics of doing it myself. Thank you all so much! +Tried calling cc company dozens of times. Tried calling issuing bank (us bank) and no one can help me. + +Hoping Reddit can. + +Edit: The debt is over $12,000 + +EDIT 2: Pretty sure this is the form I may or may not have filled out, honestly I signed so many papers that day I don't remember: + +https://www2.usbank.com/cgi_w2/cfm/online_banking/pdf/USB_BusAOForm.pdf +I'm working along side employees at a job site and paid per hour. I have a supervisor. They have total control over where, when and how the job is done. There are many others like me too. + +The pay is good. I like the company and want to convince them nicely that I should be an employee. What's the best approach to take? + + +Trading involves technical analysis, reading the charts and what each candlestick means and the shapes and indicators involved. One of my favorite and very useful tools for charting not on the brokerage platform is tradingview. Tradingview has A LOT of resources, from livestream trading, cryptocurrency, and new ideas to look at, there’s a lot I haven’t explored that can entertain any trader. So here I just wanted to provide some of the indicators that can help initial readings and possibly go into more complex indicators: + +RSI (Relative Strength Index): Relative Strength Index measures whether a stock is being overbought or oversold. Lower RSI indicates people have sold more and that you could be looking for an increase in buying. Two points to watch are when RSI is close to 70, meaning it’s moving towards overbought, and 30, meaning it’s oversold. + +MACD (Moving Average Convergence/Divergence): MACD helps show the price movement, moving average on a shorter period versus a longer period. Tradingview shows a shorter exponential moving average as blue with the signal line, the longer exponential moving average, as red. The short EMA will always meet the long EMA but it helps determine possible uptrends or downtrends when the blue line crosses the red line. Crossing downward is bearish and upward is the opposite. MACD can contain gold and death crosses. Gold Cross has the blue line shoot up through the red line, creating a cross and a bullish indicator. Death Cross has the blue line drop through the red line, a bearish signal. + +MFI (Money Flow Index): Money Flow Index is similar to RSI in that it can also help determine overbought or oversold areas with usual indicators at 80 and 20, similar indications to RSI. Using MFI with RSI can help spot divergences. If RSI and the stock go up, but MFI is down, this can signal a reversal in price. + +ADL (Advance/Decline Line): ADL helps determine the amount of shares being bought or sold, a positive number showing more bullish indication and negative showing bearish. Spikes in ADL can show possible artificial breakout without justification in price movement. A great example below, we see a spike in ADL but not much of an increase in price, so shows possible fake breakout and artificial increase in truly advancing stocks. + +Bollinger Bands: Bollinger Bands help identify when a stock might be trading outside their price range. Bollinger Bands are usually set at 2 standard deviations away from the price, as statistically, 2stdev is considered an outlier. This can help identify a breakout from its trading range or retest the Bollinger Bands and come back inside it’s range. + +VWAP (Volume Weighted Average Price): “If Volume is king, VWAP is queen” VWAP, recommended by shorter time frames, is the average price the stock is trading at, taking volume into account. If a stock is trading above VWAP, you can most likely expect it to come down to the average price, tending towards equilibrium as economics rule #1. Overall, it’s important to use multiple indicators as they can tell different stories, and using them on multiple timelines can also help you determine what the short term and long term prospects. +So let’s just say I have a little too much invested in Norwegian Cruise Line stock and I’m curious to the possibility of businesses like this either never returning to their pre Covid line or flat out going bankrupt. My opinion on this is to hold tight and not worry about the losses until they are able to bounce back and my question is whether or not this is a good option or either feasible. +Here’s my financial story. I got married young and had kids young. Started off with low pay and trying to provide for my family. + +That was 10 years ago. I made it through that and went to school. I have a decent job now. Although, the last 10 years I’ve always felt like I’m just trying to stay ahead. I don’t have credit card debt. I have a reasonable mortgage. Reasonable car payment. But I’m always terrified of the what if’s? What if my AC breaks? What if my car breaks down before it’s paid off? Where the hell does all our money go? We buy groceries and pay bills. That’s it. + +I got divorced 2 years ago and decided I was going to use this time to make financial changes. I managed to save 2,000 and put it in investing. I got really lucky, and I know that now, but I turned it into 18k in a few months. Used it to pay off my girlfriends car (wise move) and take my kids on an overdue vacation. Other then that I kept on investing. I lost a little bit on an investment then the fear of losing it all and living pay check to pay check again caused severe anxiety. I didn’t feel greedy but I wanted enough to never have the feeling of your debit card being declined or not being able to take your spouse out because your low in checking. I took big risks with my investments and lost what I had left. + +For a few months and the first time in 10 years I had a savings and I wasn’t anxious about something coming up. Then it was all gone. I tasted what a little financial freedom feels like. It sucks to be back here in pay check to pay check land. +&#x200B; + +I’m 37 years old married with 2 (6 and 4) kids and another 1 on the way. I currently make 67K a year and my wife is a homemaker. We currently have a blessed living situation where we don’t pay rent or a mortgage. We could live here for the rest of our lives if we wanted to. + +I really enjoy the company I work for and have been here for 14 years. I have great benefits and may retire from this job one day. + +I have accumulated about 700k in Net Worth during the time. I have a growing family now and would like some advice on planning for the next 10 years. We are not having any more kids. + +This is what I have accumulated so far. + +Rental Property - Owe $160K @ 3.3% Interest Rate - Valued at $460K - Currently receiving positive Cash Flow after mortgage/taxes/etc + +401K - $190K + +Roth - $11K + +Company Stock - $120K + +Taxable Investments - $40K + +At the moment, I try to max out my 401K each year. I put in 10% of my salary in company stock that has been doing pretty well. 5% in FSA and the rest I try to put in Roth, taxable investments, and 529 ($100-$200 a month) plans. I put about $100-$200 a month for the 529s. They have accumulated to about $13K and $18K for each child. I also have a small amount of cash for emergencies as well. + +I would like to get some advice on how I should be saving for the next 10 years. Should I keep on continuing this route or are there other areas I need to focus on? + +I don’t plan to FIRE any time soon, but what if something happens down the road with my current and I decide to? How do I pull 4% when most of my money is in retirement? + +Thank you for any advice! +Before this job opportunity, I ( 23yo F) was fortunate enough to get my offer accepted on a townhouse for 225k. The original plan was that I would move in and find a roommate to help out with the mortgage. + +However, a huge door of opportunity opened up for me in the middle of this when I found out I landed a Sr.Manager job for 85k, plus 16% commission --all relocation and housing fees covered/reimbursed. It's almost impossible for me to pass up on this as it closely triples my current salary and gives me an executive role (i'm currently in an entry level role so this is crazy). It's a game changer. The kicker is: it's a hybrid job in a different state, 700 miles away. + +I am excited but it's a mess as I'm still in the middle of closing on my first ever home. I already have no clue what is going on half the time, and now I have to think about renting it out and being a landlord across states--which again, I know nothing about. Not even sure if renting it out is possible because I saw something in the paperwork with my lender that said I "must reside in the property for at least 12 months". My father told me to ignore that, but idk that seems illegal. + +What should I do? I am supposed to close on the house mid next month, mortgage on this home is roughly $1,481 a month, and this new job is giving me 6 months to relocate. I feel like a total clueless noob. + +&#x200B; + +TLDR: Closing on a home, but found out I have to relocate in 6 months, not sure what to do with the new house and have no clue as to how to be a landlord or if I am even allowed to be one this early. + +&#x200B; + +Edit: I would love to keep this home as it could be another stream on income and an investment + +Edit: People are wondering how I was even approved for the home. To be clear with my current income, 38k salary base, and with commission it is 50-55k a year. I have great credit and 0 debt +I do not know about you or the majority of the community but on every pay day, I feel that I am buying at the top even though I feel that this is the bottom or so. + +Though I believe that everything is in the long term, I can't be always right at buying at the top. It is literally 90% of the time for some weird reason. By any chance are bots controlling the market that whenever someone buys, it will bring the price lower? + +Just want to get some consensus if anyone feels the same as I do. Though there are some coins in my portfolio that is in profit, I just want to know if there could be a possibility of me buying at the bottom in the short term! + +Would appreciate some tips from the fellow community on how to not buy at the top. Thank you everyone for your effort in commenting down below. + +Tldr - Tired of buying at the top, would love some nice tips on how to better buy and predict the bottom +My ex and I broke up just over a year ago. She insisted on claiming him last year, and since the breakup was fresh, I didn't have the energy to fight it. She told me then that I would be able to claim him this year instead. + +I spoke with her last night, reminding her that I would be claiming him once I file my taxes. Long story short, she lost it, and said she would be claiming him no matter what. I'm working on taking her to court since she won't agree on a parenting plan, so nothing is in writing. + +I provide for him financially and saved every receipt. I want to put the money into an account for my son to have when he's 18, while she will spend the money on herself. I plan to claim him regardless of her intentions, but I'm concerned she will receive her W2 before me and I will be SOL. + +Can I file my taxes based off of last year's info and then file an amendment once I receive my W2 to claim him before she can? Does anyone have any other suggestions? +Thanks so much for all the feedback, generous contributions, and excellent advice, this has been a lot of fun. + +The PDF file can be downloaded here- +http://www.creditcardoutlaw.com/Bitcoin_Primer_Book.pdf + +If you have a web site or server, please mirror it and post the link in the comments section. Want to limit traffic to this file since I put it up on my company's web site. Also if you're hip to that whole torrent thing, feel free to get it going over there as well. :) + +If you want to support the work by spreading the paid Kindle version or leaving a brief review, here you go: +http://www.amazon.com/The-Bitcoin-Primer-Opportunities-Possibilities-ebook/dp/B00GZD68FC/ + +Cheers!! + +**edit** warning this book contains some opinions, fun conjecture, and is line spaced so that it's easier on the reader's eyes, especially on a mobile. this has caused some seething outrage in the comments - my sincerest apologies, Internet. +While U.S. Securities and Exchange Commission is highly critical of the PFOF business model ([Barron's](https://www.barrons.com/amp/articles/sec-chairman-says-banning-payment-for-order-is-on-the-table-51630350595)), German government is now championing it. ([Wirtschaftswoche1](https://www.wiwo.de/finanzen/boerse/trade-republic-und-co-etappensieg-fuer-die-neobroker/28238810.html)) + +**PFOF = Payment For Order Flow.** Brokers no longer send our buy orders to transparent and regulated exchanges, but to unregulated trading venues. The brokers receive a commission for this from the broker. The operators of these trading venues then use the internalized orders of retail investors to make trades for themselves. ([Wirtschaftswoche2](https://www.wiwo.de/finanzen/boerse/trade-republic-scalable-capital-justtrade-die-versteckten-kosten-der-neobroker/28189534.html)) + +European Parliament actually wanted to ban PFOF. ([Finanzszene](https://finanz-szene.de/digital-banking/deutschland-torpediert-payment-for-order-flow-verbot/)) The Netherlands still wants to implement this ban, but governments like the German government and the Baden-Württemberg state government ([BW](https://www.baden-wuerttemberg.de/de/service/presse/pressemitteilung/pid/land-setzt-sich-erfolgreich-fuer-fintechs-ein/)) want to use it to promote "innovation". Unfortunately, this buzzword is a favorite term of lobbyists to convince politicians with fetching phrases. + +Gary Gensler, head of SEC, is highly critical of PFOF, because it could prevent small investors from getting the best price. But that is a legal requirement. Moreover, a conflict of interest is imminent. No market participant should be allowed to make securities trades on the stock exchange for his own account when he is in advance of knowing the buy and sell orders of many thousands of small investors. In addition, PFOF trading systems are questionable under antitrust law. ([Reuters](https://www.reuters.com/legal/litigation/us-sec-chair-gensler-staff-recommend-rules-ensure-fair-competition-between-2021-06-09/)) + +**What interest does the private operator of the trading venue have in PFOF? Why does he even pay for a broker to send him all the retail investors' orders?** - Because he can use this data to make quick trades for himself, even before execution for the retail investor. In PFOF, brokers and private venues trade against the retail investor. The small investor does not get the best price, but only that, from which the market maker already profited. + +**Example:** With broker ABC it comes to the fact that 2,000 small investors have high interest in a certain share and want to buy those at the same time. The broker does not execute the purchase orders itself at a public stock exchange, but sends the purchase orders to a private company. This company pays the broker for the right to receive this data. Our fictitious private firm, let's call it CTDL, owns a high frequency trading system. This allows this private firm to trade stocks one thousandth of a millisecond faster than other market participants. If the buy orders of our 2,000 small investors were settled individually on the stock exchanges, then the price of the stock would naturally rise gradually. But the private company now is holding back all the buy orders from the small investors for a few seconds. The company quickly buys at even cheaper prices than the retail investors and then sells the shares to the retail investor at a slightly higher price, but still in line with their buy order. (By the way, let's say the delay before the retail investor gets his shares to his account is only 5 seconds. But that is half an eternity for high-frequency computers, which can act in the millisecond range. 5 seconds is 5000 milliseconds. What kind of business can such fast, automatic trading systems do in this time?) + +**Surely we don't have to care if a private trading place takes fractions of a cent profit from us?** - Wrong! The natural economic law of the relationship between supply and demand is thereby suspended. It is no longer the demand of thousands of individual market participants that determines the price. Instead, a few large private companies with unregulated high-frequency trading systems try to steer supply and demand to their own benefit. + +In my opinion, stock trading should take place on regulated and transparent exchanges and not in unsupervised trading systems operated by private companies. Liquidity on regulated exchanges should not continue to dry up as more and more private trading venues handle orders internally. I don't know why this is important to me.... 😏 + +German. Retail. Investors. Need. Urgently. Engage. And. Educate. About. PFOF. +heres why you are becoming an idiot.... +- +*[POLL](https://www.strawpoll.me/21012523)* + +You're likely a losing trader. You might get lucky on one win, but try several thousand and see how much you lose. + + +If you're on here, you'll likely brag, gloat, and even go as far as believing in astrology to justify why you're losing. You will create modern cartoons to project your feelings of losing. + +While I can't read your mind. What we can know is what you post. + +It is overwhelming biased towards losing, and staying that way. You are losing and seem to be happy about it. Almost like they're getting slapped in the face and smiling afterwards. + +People have been arguing whether losing traders should even be able to comment on posts. Censor it?! + +**lose lose lose** again... +- + +This week another stock, another jump in the usercount spam. We are now seeing users bragging about their bagholds. + +Why isn't winning being promoted? We should be shooting to become profitable traders, not joking how everyones losing. While most users lose, they still don't understand why, and will never receive information on r/pennystocks to correct their problems. + +They stick with faulty information that doesn't allow them to read the stock price clearly. They misinterpret what they're seeing on the chart, fundamentals, and the entry timing. + +If you want to become a good trader, you need to believe that you can win, and overtime you will be able to figure out something. With a negative way of thinking, users will never have a chance of realizing how to trade. + +Few traders can win because most don't know how to win. Strategy is never used even when it seems as though it's real. A strategy is almost never real unless profitable over a long term tried period. + +heres how you win +- + +You win by realizing most traders lose. You find where these traders are, and build a strategy around them. The price isn't just some random numbers on a screen. It's people like you and me placing orders. The more people lopsided to one direction, and can be *proven* will bump your winrate up tremendously by doing the opposite. + +Users on here joke about how they were right that this ticker that went up 1000% was going to drop. They're right! + +These users also miss the opportunity in that. They believe they can't short, or at least have the option to. They go on a quick google search and believe they are stuck getting long with bad fills. + +Theres' a reason traders lose, it's because they do the same thing over and over. Once you realize this, you will be able to find more consistency. + +why do pennystocks users want to lose +- + +Traders, gamblers, and bagholders all have one thing in common, they all lose. Actually, traders win, gamblers never win, but most people are gambling not trading. Until they've proven something works without question, they're gambling until it's proven. + +Trading is reading the price movement, and understanding how it overlays with the fundamentals. Problem is, reading the price movement is such a difficult skill to learn because most "experienced" traders teach the wrong things. They'll tell you to buy long whenever you see this move on the level 2. It's nonsense. + +r/pennystocks always has new users who'll make a $50 win and call it a life changing event. We can dismiss these users as frivolous to the majority. + +It's time for us to pick up the slack of the negativity of others, and start promoting winning. +I'm trying to wrap my head around this but apparently there is an unsustainable amount of debt out there. Much of it being being high risk debt, including B2B and consumer debt. + +My understanding is that there could be a snowball effect where one default cascades into many other defaults. In this case, money will flood into treasuries (TLT) as the government is least likely entity to default on its debt. + +Do I have this right? Would TLT outperform in a situation like this? + + +Hello, I am very new here so apologies if I haven't posted this correctly. + +I received an inheritance from my grandmother. about 12k. I will also I believe be getting another payment of about 20k, maybe more when her effects sell. + +I am poor, I have always been absolutely dirt poor. My parents are poor too, so I am unlikely to ever get any money of any similar kind in the future. I know you can only make money if you have money. I want to invest this as best I can, maybe earn enough to get a nice house in the future, something like that. + +I need financial advice on what to invest, all that kinda stuff. I was told some financial advisors are not good because they work for a company so have an invested interest in getting you to invest in that company, or something. I don't mind paying for good financial advice, (Of course, because they would save/earn me more than their fee in the long run anyway, right?) + +What is the best place to contact for good financial advice for someone like me? Recommendations would be fantastic, thank you! +The more I've been crunching the figures, the more I'm leaning towards a low cost tracker, but people are buying houses to rent out in this area, so I'd assume it should be more profitable to be a landlord. + +&#x200B; + +I know I must be missing something, but I can't see what it is. The house has no mortgage. + +&#x200B; + +Yearly Rent = £5720 (£110/wk) + +&#x200B; + +Fixed Expenses: + +Income tax 20% of (5720-1000 allowance)=£944 + +A free week at xmas £110 + +Landlord Insurance £153 + +Boiler Service £50 + +&#x200B; + +Profit if zero maintenance: £4463 + +&#x200B; + +Repairs in 2016/17 = £240 + +Repairs in 2017/18 = £531 + +Repairs in 2018/19 = £141 + +&#x200B; + +Average annual repairs over last 3 years: £304 + +&#x200B; + +Average profit after fixed expenses and maintenance: £4159 + +&#x200B; + +So far the rental hasn't been empty, and we found the tenants privately (no commission), so the figures above are better than we can expect long term. We know the tenants will be moving out soon (the house is too small now they have an extra child). + +&#x200B; + +However, at £4159 on an £80k investment, that only equals 5.2% 'interest'. + +&#x200B; + +The oft quoted average inflation adjusted gain on a tracker is 7%, so for £80k would be £5.6k/year (realistically £5.4k after the tracker fee). + +&#x200B; + +Houses in my area seem rather static (9% up over 5 years, but 7% down over 2 years), it's Blackpool, North West, an unfortunately [deprived](https://www.mirror.co.uk/news/uk-news/10-worst-deprived-places-england-6548105) area, lots of seasonal work. + +&#x200B; + +There must be some good reason why people are buying houses to let, but I can't see what it is? Is it that house prices traditionally make good gains? That the rental market is more reliable than the stock market? +I am looking to add EV stocks to my portfolio and hold for notable future. I still think Tesla is overvalued at this point. Is there any other EV stock that is a long term buy and hold? Mullen was a big let down as a friend bought it quite high and is crying right now. Thoughts in rivian and lucid? +Shit is about to get real. We are about to experience something no one has ever seen. We have a new currency that is not controlled by any government and not backed by any government. It’s magic internet money. + +However, futures trading starts next week. This is a HUGE MONUMENTAL thing. Futures. Futures are Wall Street wizardry and no one knows how this is going to impact BTC. + +No one. Wall Street is out to make money. They don’t care at all about blockchain, about changing the world, making money accessible to all. All they care about is making cold hard USD cash. + +They are not trading futures to help the cause or make BTC “legit”. They are doing it to make money. + +Next week is going to be scary. Someone is going to make a ton of money, but no one, and I mean no one, knows if it will be us (HODLers and early adopters) or them (the slick traders creating futures to make money). + +The futures will not actually trade BTC, but it will impact the price of BTC. You have to be ready for this. + + +You can be ready in a few ways: + +1. HODL. Ignore the price, ignore the news. Take your hardware wallets, your paper wallets, and put them away and ignore them. The price is going to go nuts. Maybe up, maybe down, but it’s going to be insane. Stick to your plan. HODL. + +2. Set your limits in your exchange of choice. What’s your buy and sell number. Set it and stick with it. The computers are going to make trades faster than the exchanges can keep up with. Remember the 9k dip that lasted for seconds? Imagine a lot of that. You won’t be able to move fast enough. If you want to get in or get out at X, set it now and live with it. + +3. Get out of BTC. Take your profits and leave. You’ve made a ton of money. Take % out and put it into the normal stock market, mutual funds, ETFs, whatever you want. Leave the rest in. Move your BTC into a traditional asset class and diversify. + + +These are your options. You need to take a hard look at yourself, at your wants and needs, your goals, and make your decision ASAP. + + +Futures are coming and it’s going to be a wild ride. If you don’t think you can take the insanity, make your plans now. +Hi all, I’m a 25 (F) on the verge of homelessness. I really need some advice on how to pull myself out of this rut. In January my mom was murdered by my brother. My dad who was extremely abusive to me took all of her life insurance money. When I lost my mom and brother, I totally broke down and wasn’t able to work. I brought myself to school everyday. I had to pull myself up out of depression. The last 2 months I’ve been better. Applied for a bunch of jobs with no luck even though I’m masters level educated. Finally found a job a week ago but I’m waiting to be on the schedule and for all the employment stuff to go through. I’ve sold almost everything I can to get through this time. I’m in negative in my checking account and maxed out my credit card. Everyday I get charged 36 dollars in overdraft fees. I applied for a loan that doesn’t come until august 20th. But rent is august 1st and I’m in negative with no way to pay rent. Does anyone have ideas to help me through just this month? I’m sorry if this sounds whiny I’m not meaning to be - just stressed about my situation. +I suddenly have an inflow of ~£200k cash from abroad (Philippines), and would want it in the UK. What’s the best way to move it? + +Bonus question: I recently bought a house (mortgage, obvz) and have no further short term targets. What’s the best use of this money? I’m thinking savings for my 11yr old, S&S ISA, and adding onto my pension. Any advice? +Watching demand search for supply is going to be like watching lava slowly get forced from the earths mantle up into a volcano building pressure all the way before finally exploding. +Hi all, + +I'm (31) in a relationship and living with my partner (36). He owns a flat with a mortgage in London - we live together. + +I'm in a very good situation at present financially. I have around £45k in savings, no debt save my student loan, and as I'm only paying the bills (he pays the mortgage) and earning £47k, this means I am able to bank around £1500p/cm in savings. + +My partner and I have been together for just over two years. I don't think we're quite ready to buy a property together yet, however he has been here for 6 years now and is very keen to move. He earns quite a bit more than I do, has equity in his flat and pretty set parents, so upgrading to and financing a house without my involvement is more than possible for him. + +Realistically at my current savings rate, salary and good overall history with credit, I would be probably able to buy a small 1-bed flat in London in the next 6-12 months. However, I'm currently grappling as to what is the best idea. + +On the one hand, I have always wanted to own a flat and the security that comes with it. Right now, as good as my situation is, I've been in enough relationships to know that things can turn on a dime and if they did I could be homeless and trapped in some £1000 p/cm flat share haemorrhaging my savings pretty quickly. My partner has previously told me that he would fully support me if I felt I really wanted to buy a flat - if we did this we would both pay into our own mortgages but I would stay living here. + +On the other hand, it doesn't seem to make much sense putting myself through the rigmarole of buying a flat that I may never actually live in and would probably come to sell anyway in a few years time. + +I don't think my partner and I are a million years off buying something together, but I know how much he wants out of this flat now so I don't want to hold us back by making us stay here until our relationship is at the right point to take the leap together. + +I'm aware I'm in a spectacularly good position here so I hope this doesn't come across as crass, especially as I know how much some people are struggling right now. Would just like some rational advice on if there is a way I can look at this from a financial perspective and make an informed decision based on that. + +edit: have realised via the comments that this is somehow relevant, so for context we are both men in wonderful homosexual relationship +The liquidity pool for everyone’s favourite scam token has been dropping significantly. It is losing approximately a million dollars each week it currently has less than $7m. + +If the liquidity pool is no longer able to support the swapping of tokens between Safemoon and Binance coin, it will have to be disabled. + +Anyone who still holds Safemoon at that point will no longer be able to sell it. Effectively rendering it worth nothing. + +Holding at this point is literally the most risky strategy for you poor old Safemoon victims. + +I would say this is not financial advice, but being invested in Safemoon means you probably won’t listen anyway. Good luck to you all. +New inflation numbers coming out today and the markets are already panicking, reports are coming out about June inflation rates hitting 9.1%. + +Today will be a Red day which might not be good for Crypto but if you were waiting for the right time to buy this might be it.\* + +I know some of you don't look at the charts anymore so I brought the charts to you. + +Bitcoin down about $1,000 this morning in about 10 minutes + +https://preview.redd.it/ei49r7me5cb91.png?width=960&format=png&auto=webp&s=1c0f899af5d59febc5103e3e075fa3810cbaaf24 + +Ethereum is also not looking to hot. + +&#x200B; + +https://preview.redd.it/t6fyutvk5cb91.png?width=978&format=png&auto=webp&s=feb17a2da8f6686bd66fa0f86cf369e08501a811 + +Even to meme coin DOGE is back down in the five cent range + +https://preview.redd.it/lx7o1q8m5cb91.png?width=954&format=png&auto=webp&s=cb168ed7dcfe9cdee4a71f8450dbbfc54121c058 + +Look how they massacred my boy ALGO + +https://preview.redd.it/l7nr9cqq5cb91.png?width=971&format=png&auto=webp&s=bf2468ae1b37cdd45b4d7594ef8e4c0776c5e6e3 + +So Strap on tight because today is going to be a bumpy ride. + +&#x200B; + +\*^(This is not financial advice, I could be completely wrong on it being a great time to buy. I take no responsibility for any losses you might incur by following the advice of a random person on a crypto subreddit.) +It hit me the other day that money (fiat) isn't worth having. For now you need it to spend on most things still but holding it is a liability. It's designed to lose its worth, so you have to spend it or buy assets. It's good for the masses to keep it in circulation. + +Anyway - the point that dawned on me was this: **It isn't that assets appreciate, it's more that they just don't lose value like cash**. Take a range of asset classes like property, gold, etc. It looks like their value increases, but on average what you're seeing is just what the money you purchased them with *would* be worth if it weren't designed to deflate. + +It's not assets increasing in worth - it's the dollars they cost falling in value. They're really just a hedge against inflation. Some better and worse than others. + +Monetary policy erodes savings. + +The average person can't get an interest rate to beat inflation, and when they do they are taxed on it - even where the real value of their money is *less*. + +One of the wonderful things about **bitcoin** is that eventually everyone will be able to have **savings that don't lose value.** People won't have to hand money to a bank or investment fund where the financial industry take their cut. + +Imagine millions of people whose savings can be relied upon, where if you do nothing after 2, 5 or 10 years no government or financial institution has robbed them of their value. + +It's very exciting! +**MOASS** will be unlike anything the world has ever experienced and I'll be having to hodl for my future life, and for the future lives of ape brethren alike. The share price going into the thousands, hundreds of thousands, and yes, even the millions will become a wild reality. + +&#x200B; + +https://preview.redd.it/fk2w1speo1z71.png?width=498&format=png&auto=webp&s=e3998e80f60ff98c1eacad3043a0a544039e5948 + +Reaching the millions, however, will be up to individual investors. + +The number one goal for SHF's will be to get us to sell low. How will they do this; by bombarding the sub with posts about fake individuals (paper-anded bitches (\*in Jamie's voice;) having sold, thus creating mass *FOMO* to all HODLERS. They've had almost a year to create accounts and generate Karma; seeing a hundred posts about apes selling early in the **MOASS** would sure as hell have me hovering over that SELL button (if it exists?). + +The best tactic against this type of FUD is: + +1. **NEVER** post or announce anything regarding leaving your position or having sold. + +&#x200B; + +https://preview.redd.it/ycbadls0n1z71.png?width=498&format=png&auto=webp&s=ae5bc3361234edc5b81cd55dc8b8f9c702b35e55 + +HODLING will win the game and is the best and most important tool out there. Exiting quietly or not at all will ensure a SHF burial. + +\*This is NOT financial advice + +\* This IS Reddit advice + +Thank you to all the MODS, DFV, RC, DDer's, the entire GameStop team, and every single APE out there. Nothin but love <3 + +&#x200B; + +https://preview.redd.it/9abx7rwlm1z71.png?width=500&format=png&auto=webp&s=7ea859fe7423a15af5f605b0230a4f7ab35df382 + +TLDR: **NEVER** post anything regarding leaving your position or having sold. Leave that to the Hedgies;) +Please use this sticky to ask questions and to see answers to similar questions you may have. + +If you're new to day trading please see the [getting started wiki here.](https://www.reddit.com/r/Daytrading/wiki/getting-started-daytrading) For **advanced traders** or you want to pick up a book, please [see our other wikis.](https://www.reddit.com/r/Daytrading/wiki/index) + +New traders should definitely try Forex, so check out [Forex community's wiki](https://www.reddit.com/r/Forex/wiki/index) paying special attention to babypips website which also teaches some general concepts you can apply to stocks/futures/etc and especially read the wiki's sections on **risk & money management** that can be applied to any market. + +[Pattern daytrading rules wiki](https://www.reddit.com/r/stocks/wiki/pdtrules), but that only applies to day trading stocks; other markets aren't affected like futures, forex, and crypto. + +Also see the sidebar (or "about this community" on mobile website) on every related community to learn more about trading. + +Here's a list of all the [previous question stickies.](https://www.reddit.com/r/Daytrading/search?q=author%3Aautomoderator+title%3Aquestions&restrict_sr=on&include_over_18=on&sort=new&t=all) +Please use this sticky to ask questions and to see answers to similar questions you may have. + +If you're new to day trading please see the [getting started wiki here.](https://www.reddit.com/r/Daytrading/wiki/getting-started-daytrading) For **advanced traders** or you want to pick up a book, please [see our other wikis.](https://www.reddit.com/r/Daytrading/wiki/index) + +New traders should definitely try Forex, so check out [Forex community's wiki](https://www.reddit.com/r/Forex/wiki/index) paying special attention to babypips website which also teaches some general concepts you can apply to stocks/futures/etc and especially read the wiki's sections on **risk & money management** that can be applied to any market. + +[Pattern daytrading rules wiki](https://www.reddit.com/r/stocks/wiki/pdtrules), but that only applies to day trading stocks; other markets aren't affected like futures, forex, and crypto. + +Also see the sidebar (or "about this community" on mobile website) on every related community to learn more about trading. + +Here's a list of all the [previous question stickies.](https://www.reddit.com/r/Daytrading/search?q=author%3Aautomoderator+title%3Aquestions&restrict_sr=on&include_over_18=on&sort=new&t=all) +Please use this sticky to ask questions and to see answers to similar questions you may have. + +If you're new to day trading please see the [getting started wiki here.](https://www.reddit.com/r/Daytrading/wiki/getting-started-daytrading) For **advanced traders** or you want to pick up a book, please [see our other wikis.](https://www.reddit.com/r/Daytrading/wiki/index) + +New traders should definitely try Forex, so check out [Forex community's wiki](https://www.reddit.com/r/Forex/wiki/index) paying special attention to babypips website which also teaches some general concepts you can apply to stocks/futures/etc and especially read the wiki's sections on **risk & money management** that can be applied to any market. + +[Pattern daytrading rules wiki](https://www.reddit.com/r/stocks/wiki/pdtrules), but that only applies to day trading stocks; other markets aren't affected like futures, forex, and crypto. + +Also see the sidebar (or "about this community" on mobile website) on every related community to learn more about trading. + +Here's a list of all the [previous question stickies.](https://www.reddit.com/r/Daytrading/search?q=author%3Aautomoderator+title%3Aquestions&restrict_sr=on&include_over_18=on&sort=new&t=all) +It looks like the DPO should be happening today but not officially listed yet, or at least no public trading. Anyone who may have an idea of when this will occur and at what opening price please share, not a lot of information out there on the Internet. +Let's say hypothetically, **Airbnb** goes public via a direct listing, but because its financials are in such poor shape, it only has a market cap of $5 billion. Looking at this very low stock price, could someone like **Bookings Holdings** (a public $60 billion company and a competitor to Airbnb) just go on the stock market and just keep buying more and more of Airbnb's stock, until they own most or all of the whole company? In other words, does a big company have its own brokerage account where they can just make such mass purchases, all at once or in small increments over time? My sense is that the big company would have to officially announce their intention to acquire the smaller company, probably make some filings, but then usually the smaller company's stock goes up in response, and the acquisition becomes more expensive. + +How does this work in practice? +Just a theoretical/fun one. + +If the market tanks sometime in the next 12-18 months like it did in 2008, what would happen to folks pursuing FI? What kind of posts would start showing up on this subreddit? How would the community mindset change from where it is now? +I just wanted to let people know. It is hard. It takes years. But perservere and you will get your deposit! + +After 3 years of hardcore saving (paid 1833 a month after tax and I save around 30% of that in central london). I have £15000 at last. Another 3 years of saving and I will be able to judge the post brexit housing market and buy! + +Edit: for those wondering i plan to move outside of london when i buy. I am aware 30k might get me a porta-loo on an equally sized plot of land in london. +Seems like I always see articles stressing you need at least 2 million or some other super high arbitrary number to consider comfortable retirement. With the things I've learned on this sub, seems like with a cool 400k, you could comfortably sell options on something like Google or Amazon and make a safe 10k a month easily. I know everyone's lifestyles are different and when most people say those huge numbers they're not talking about really managing the money, but just wondering your thoughts. + +Any of you have a set nest egg magic number where work is no longer required? +Hello, + +After taking a somewhat self-deserved beating this month due to wheeling and holding bad underlyings, I'm taking a step back to re-evaluate. I'm trying to adopt u/calvonlear 's approach of honing on in 20-30 stocks who are fantastic underlyings with good liquidity that can typically find support/buyers in most situations and are great to sell 30+DTE ATM puts on. + +Without further ado, my initial list- I am seeking feedback as well as suggestions+additions that people like. Stocks with lower share price preferred, as capital required for CSPs on anything over $300/share gets pretty gnarly if you don't have a massive account. Sure AMZN is great to wheel if you can afford it, but most of us here can't. + +Without further ado: + +ETSY + +SE + +MSFT + +AMD + +AAPL + +LOW + +DHI + +YETI + +UNP + +CROX + +WFC + +DIS + +HEAR + +HPQ + +BRKB + +DKS + +DOW + +VIAC + +NDAQ + +A + +KR + +PG + +K + +CBOE + +INMD + +CVS + +ABBV + +BKE + +QRVO + +PLD + +TXN + +ASO + +ABT + +ATVI + +DELL + +TRMB + +TGT + +VSTO + +WHR + +ZTS + +Do you like these? And what additions should I make? +Hello everyone, please help on a basic question I can't seem to work out with my poor math skills. If I sold GME $13p 12/18 for $0.55 and I roll down/out to $12p 12/24 for $0.70, ultimately would I only collect a premium of $15 on this CSP play? or would I actually collect a premium of $70 total? If I believe the price will never reach $13 by expiration, would I collect more money not touching the original CSP of $14p 12/18 for $0.55? + +The reason I ask is I wanted to adjust my plays after a huge price dip to capture more premium. Does rolling down/out during higher volatility result in me collecting more premium? + +Thanks. +There are some good premiums for 4/17 puts even down at strikes in the mid and high 20s, but they have not followed the rest of the market in terms of retracement to prior year lows, and PE ratio is still astronomical. +Hey all. So I've been trading (writing) options for a bit, but I'm looking for some ideas on managing a bbby position. + +So I have 100x $5c Jan'23 LEAPS. I have sold 100x $24c Jan'23 calls against it. I'd like to exit this position within the next few weeks. Anywhere between $24-$30 exit and I would be highly content with taking the win and walking away. + +My question is, what would be the best way(s) to manage this position such that I can exit sooner and capture the current pump? I have some cash on hand so can afford to manipulate the position if needed. I have a few ideas but wanted to see what folks who are smarter than me could add. Thanks in advance 👍 +Keep it friendly and civil; this is not WSB and automod will censor your posts at will for unsavory and unfriendly remarks. Try to keep bragging to a minimum; remember every dollar you make is a dollar someone else lost. +Keep it friendly and civil; this is not WSB and automod will censor your posts at will for unsavory and unfriendly remarks. Try to keep shit posting and bragging to a minimum. +Hey guys, please talk some sense into me. Yesterday i wrote a straddle on MSFT at strike 155 expiring march 27 2020. +I collected 1732$ in premium. I was very happy with the trade because I sold it while iv was crazy high. + +Today I talked to my Dad about it. He works in finance. ( I live with my parents i am 21y old) He thought i was a dumbass for making such a trade and Microsoft could easily go back up to 190 where it was before the drop or crash to 100 in such a volatile market. + +I still think this was not a bad decision but he did get me a little bit scared. What do you guys think? +31 DTE IC: QQQ 207.5p/210p 257c/260c. I only collected $0.74 on this one, too low. Started off bad. Current puts are 6 and 7 delta. I could collect about $0.30, with a 3-wide strike. Thoughts on rolling up the put side to 20-30 deltas? +I'm looking for advice for my boss: + +1.7 million shares KMI at a massive $21 MILLION loss. [Proof](https://imgur.com/a/pjQ1W76) + +KMI gives an ok dividend, .26/qtr, so he's getting a $442k/qtr, but wants to try to make up the difference somehow (if possible through options) and eventually close this position. + +What do you do? + +I'm thinking he should sell covered calls/puts. The volatility of KMI is practically nil. I'm thinking that if he were to sell some crazy covered calls/puts with short weekly expirations, he'd make the premium and keep his shares as it would likely expire worthless... + +Thoughts? Would you recommend a different strategy? +Got a question for the Theta gang regarding selling cc against some sofi leaps I have. Currently have 1/20/23 15c at an average of 3.0 and am looking to make some of that back. Was wondering if anyone knows: + +1. Am I able to sell cc against options in the first place? + +2. If so, do they have to be for the same date/strike? + +3. Anyone have experience doing so and want to share any advice? + +Appreciate y’all! + +Love, + +Tax Daddy +Is it worth it to roll down put options for weekly wheel strategy?? Or is it better to just get assigned and collect “double” (premium and increase in value) when the stock is back up? + +Any insights? +Selling CSPs on tech stocks lately has felt like taking on the full risk of an unexpected correction, but collecting far less in premiums than if I had just bought and held shares for the same duration; most of the premium I collect seems to be from delta/vega, not theta. I.e. recently I can often close at better than 50% premium within a few days to a week due to price/IV movement (at 20-40 DTE), but end up profiting less than the price movement itself. Would it make more sense to sell at a higher delta strike (closer to ATM) in such a rapidly rising sector? Or just buying calls? +I'm new to thetagang, have little experience with cc but after learning more about csp's, why would anyone ever just buy an underlying stock? Why not just always sell a csp on it? Then you just collect premium if you don't get assigned, or worst case you get assigned and get the stock that you wanted to hold anyway? And if you want the stock right away just sell a more bullish csp. Am I missing something or are people who don't do this retarded? Am I retarded? +Keep it friendly and civil; this is not WSB and automod will censor your posts at will for unsavory and unfriendly remarks. Try to keep bragging to a minimum; remember every dollar you make is a dollar someone else lost. +I'm new to this group but a long time options trader. Love theta decay... Does anyone here sell iron condors on a regular basis for consistent income? If so, do you have any good tips/tricks that have been working lately? +Keep it friendly and civil; this is not WSB and automod will censor your posts at will for unsavory and unfriendly remarks. Try to keep shit posting and bragging to a minimum. +New to options and trying to figure out some good strategy’s, I like CC and CSP but I’m not to sure about PMCC. So I’m just wondering whats your opinion on PMCC? +Keep it friendly and civil; this is not WSB and automod will censor your posts at will for unsavory and unfriendly remarks. Try to keep shit posting and bragging to a minimum. +I'm looking for advice for my boss: + +1.7 million shares KMI at a massive $21 MILLION loss. [Proof](https://imgur.com/a/pjQ1W76) + +KMI gives an ok dividend, .26/qtr, so he's getting a $442k/qtr, but wants to try to make up the difference somehow (if possible through options) and eventually close this position. + +What do you do? + +I'm thinking he should sell covered calls/puts. The volatility of KMI is practically nil. I'm thinking that if he were to sell some crazy covered calls/puts with short weekly expirations, he'd make the premium and keep his shares as it would likely expire worthless... + +Thoughts? Would you recommend a different strategy? +Hi. I'm a reporter and I'm working on a series about Gen-Z and millennials financial struggles, particularly around using payday loans at the moment. I've seen a lot of posts about shortfalls between rent due and financial aid checks coming in, which I think is a huge issue we need to really spotlight. + +The first article published yesterday ([https://www.cnbc.com/2018/08/01/1-in-3-college-age-americans-consider-payday-loans.html](https://www.cnbc.com/2018/08/01/1-in-3-college-age-americans-consider-payday-loans.html)), but I'd like to talk to more folks who find themselves in these types of situations--college students who are balancing work and school in order to (hopefully) pay the bills, recent grads who are juggling loans, jobs and living expenses or folks who couldn't finish college but are trying to make it work. + +If that sounds like you and you're interested in sharing your story, please comment or send me a p/m. + +EDIT: Just wanted to update those who were interested. Here's the second article in this series: [https://www.cnbc.com/2018/08/14/millions-of-millennials-are-taking-out-risky-payday-loans.html](https://www.cnbc.com/2018/08/14/millions-of-millennials-are-taking-out-risky-payday-loans.html) Again, if you're interested in sharing your experiences, feel free to reach out! +It's been nearly a year since I made the original UK Personal Finance Flowchart: + +https://i.imgur.com/ezGWhE3.png + +Does anyone have any comments on improvements or changes needed? I'm not sure if the [November Budget](https://www.gov.uk/government/news/autumn-budget-2017-date-confirmed) will make any difference or not, probably not. + +I've tried to export it to a slightly higher quality PNG and I've bumped the version number to V1.0 given it's been in the wild for a year, but other than that I've not made any changes. Suggestions welcome. + +Or if you prefer, the source file for the [Draw.IO](https://draw.io) chart can be downloaded [here](https://drive.google.com/file/d/0B6yAINuW1oiUaFMxMjd5ZDVQZmM/view?usp=sharing) and you can mess with it yourself + + +Latest Version: +https://i.imgur.com/BfHzwr9.png + +[Changes:] + + * Thanks to /u/dijumx who has re-arrangeed the flow chart to be a lot more logical + + * Note added reminding people to claim additional tax relief if in 40%+ tax bracket. (People in higher brackets should know better!) + + * Changed order of arrows to clarify if Pension is full should move to ISA before taxable account + + * Changed "Does your company have a pension" to "ensure you are auto enrolled" + + * Added note about life insurance to cover budget if you have dependents + + * Added note that building a 6 month emergency fund before paying off debts is optional depending on circumstances (job security etc) + + +$ATOS, which is currently trading at $1.75, is a bio pharma company focused on cancer treatment and recently a Covid Nasal treatment. ATOS recently closed a Direct Offering 4 weeks ago for a value of $2.88 per share and warrant and was trading. This stock is sensitive to hype and even hit $4.90 in January, which is definitely an over-valuation at this point in the company's pipeline. It has had a big uptick in short interest with over a 50% volume shorted since the announcement of the Direct Offering, but they have not closed their short positions despite the already 45% dip. The current stock price is definitely an over-reaction of the market. Personally I feel this stock should be trading closer to $2.15-$2.30 minimum, which is more in line with the Direct Offering and where the company has been. I would not advise going all in on this stock, but adding a position seems like a very safe bet since it is unlikely this stock can go much lower and they have only had positive news for the last year. https://nakedshortreport.com/company/ATOS +People, I know it’s scary right now. Pennies had a good run for awhile and now they are taking it across the chin like Ali during the Thrilla in Manilla. But here’s the thing, + +THIS TOO SHALL PASS. + +Why is the market falling? Because bond yields are improving because some fed chairman said he’s not raising rates but he COULD if he sees inflation. + +Let’s be real here, inflation is now and has always been a monetary phenomenon. The US creates unmanageable debt, and the fed prints money to lower the cost of paying off those debts. Who eats the inflation? We do. Maybe the dollar gets “stronger” for a time, but it always, ALWAYS gets weaker in the long game. Ask yourself, would I rather hold the companies I am invested in for a year or two or five, or dollar bills? If the answer is dollar bills, you probably shouldn’t be investing in pennies. Invest your money or bonds or the S&P. But if you believe in the companies you are invested in, then hold tight, because good things come to those who wait. +https://www.opensecrets.org/members-of-congress/richard-c-shelby/summary?cid=N00009920 + + +> I'm sure everyone here has tweeted octogenarian Senator Shelby at https://twitter.com/SenShelby but on the off chance he only uses fax machines, you can reach his chief of staff at https://twitter.com/jwdonald3. Also, his former chief of staff is running to fill his open seat once he retires. She can be reached at https://twitter.com/KatieBrittforAL +> +> Also, This is his DC Office number, blow it up. +> +> Telephone: (202) 224-5744 +> +> +> I love to not assume malice when ignorance is just as likely, but this guy is retiring. If there were a time for anyone from Alabama or elsewhere to put in an open records request to ensure his office isn't corrupt, it would be now. https://revenue.alabama.gov/tax-policy/records-request-policy/ +My parents are very well off. $3M + family business, 3 buildings, a couple estate homes, stocks etc. My fiance worked for my dad for 3 years and had excelled in his position (moreso than my brothers) but we had a terrible falling out and we returned all handouts (help with apartment, car etc) and left completely to a new state. We have good jobs but with competition and living costs so high, we are just now making ends meet. + +We are enjoying living a faster paced life in the city, and the freedom of not asking for vacation just to be rejected by parents who instead of giving free time forced their grown children to take vacations with them. And we are very career focused, unlike my sibling. They are happy to glide along, no goals etc. My parents manipulated, controlled and sometimes even pitted my siblings against each other for the desired outcome. + +Most recently SO and I have each had a fair share of low blows by our employers. Scams, bounced checks, startup = no paid leave until 2 years later. I couldn't even take off 1 day for a family friend's funeral. Job hunting, moving, money troubles is slowly tearing down the ideal image I have of my life on my own. + +This has got me thinking -although I am grateful for the chance to live out my dream- city living, being completely invulnerable from parents' schemes/antics, we are thinking about starting a family and I can't help but miss what I had before. + +Have you or anyone you know given up freedom (low income, big/pricey city, no paid vacation/free time) - for a very comfortable, almost extravagant lifestyle (month long int'l travel, VIP stays, first class everything, shopping) given exclusively by controlling, manipulative, guilt-tripping parents? Are you glad you did it or do you regret? Even if you haven't what are your thoughts? +So I’m 26 and just got married in a small courthouse wedding. My wife and I are planning on having a normal wedding next year as we wanted to get married this year for military benefits/religious reasons. We also want to get a house together. Right now we have about a $40,000 savings. How do you recommend we manage these two major purchases. We will qualify for a VA loan which gets us the best interest rates with very little money down and no mortgage insurance requirements. Right now I make about $65,000-$70,000 a year and she makes around $35,000- $40,000. We’re looking at house in the $150,000-$175,000 range. + +My question is how much should budget for the house downpayment and closing costs. + +How much should we budget for the wedding. + +How much for furnishings house. + +How much left over for emergency fund and personal saving. We’re planning on having kids to so that’s a major future expense maybe in two or three years from now. + +Looking for any recommendations. +I (24) graduated in early 2020 just as the student loan freeze started. I started out at ~27k owed and now it’s sitting at 14k. + +With all of the rumors of loan forgiveness, I stopped making bi-monthly payments and have been upping my contribution to my mutual funds with the money I was using to pay off the loan. At this point, I will have enough saved up by the end of January to liquidate my mutual funds entirely and pay off the remaining student loan balance. I would still have longer term stocks that I’d prefer to leave be to avoid higher taxes. + +I am also currently at home and outside of work around the house and help with various things my parents are nice enough to not charge me rent. The hope is that once I have my loans paid off I can direct my focus to putting away for a down payment on a place to live as opposed to renting. + +Does it make sense for me to pull the trigger before interest kicks in? + +Am I missing any glaring negatives? + +Thanks for any advice! + +Edit: I’m also contributing to a Roth IRA separately and a 401k through my work with matching so there are additional retirement savings already in place +I'm a current college student and I had previously planned on becoming a fee-only financial advisor. However, after reading a little bit more about investing, I'm starting to have second thoughts. I've read that passively managed accounts do better than actively managed accounts on average, and that you're better to just dump your money in an index fund such as a vanguard account and let it work for you. If these things are true, then is the whole concept of a financial advisor becoming obsolete? It seems to me it doesn't take much effort to find substantial financial advice for free. Why would someone pay others to manage their money? I feel as though I would feel guilty managing other people's money while I watched my own money compound in a passive index fund. +Hello! My boyfriend and I are looking to buy a house - we’re not in any particular rush, but we currently live in the city and we’re kind of getting tired of all the commotion that goes on. We’ve looked at free standing homes, townhomes, new construction homes like Ryan Homes, etc. all obviously requiring a down payment. We are first time buyers so we’ve heard that we can pay as little as 3% down, however we are unsure of the best route. Also, since we are renting we feel like it’s almost impossible to save money. Does anyone have any tips for bulk saving, or different accounts to procure funds? I do have a 401k but that would be a last resort. Any suggestions/recommendations would be helpful! +We just sold our condo and made a nice profit. Wanted to get it off our hands before recession hits and also are looking for more space, closer to work. We are renting for the next 6 months with the idea that homes will be cheaper in January with a lot of fire sales. We will need another 15 K to get 20% for the kinds of homes we want and will be ready by then. But the recent talk of recession is making me anxious. My partner has a very stable job at a state school but I work in private sector and don't want to be stuck with a big mortgage if I somehow lose my job. At this point, there are no indications that I will - I actually got a promotion and raise last month. In addition to being anxious, I'm also wondering if we should just go for another condo and wait out the recession and invest in the market when it's down? Or would the money be more stable in a home? We are looking in a neighborhood where prices won't crater but probably will grow at 2-3% per year. Any advice would be appreciated + +TL;DR Should we hold off on buying a house during the recession and invest in market? Or should we buy a home in a stable neighborhood? +As the (forever long) title says but with some more detail, Bain Capital and US Bank are the holding companies that finance/own some of the clients my buddy works with. Both are cutting marketing spend and planning for mergers and acquisitions to end before Q2 2019, leading into a recession (they used that word) in 2020. + +A couple questions for discussion: + +* Has anyone else heard this or something similar? +* Wouldn't it make more sense for them to hold on mergers and acquisitions and wait for the recession to do that? +* If this is true, what can we do to prepare? +My father approached me this weekend and asked if he could create brokerage accounts for my 2 year old son and the baby I’m due with in November. He plans to start each account with $10,000. I know nothing about investing beyond contributing to my 401k and I don’t know that my dad does either. Is this a good idea? Is he able to do this without my involvement? Would this money be better off in a savings account? My fears are my sons suddenly coming into a lot of money when they turn 18 and wasting it. My 2 year old already has a college fund started with a substantial amount in it from my in laws and this baby will too. + +Edit to add: my boys will be gifted the money either way, we’re just deciding what to do with it. +Hey guys, so the last few years I've made some bad financial decisions as well as had a string of some bad luck. I'm also awful at saving money. +I took out a lease at the end of 2017 and the lease end date, which has already been extended is coming up in May. I only leased a total of 45,000 miles on it and I'm roughly at 165,000 right now. + +I owe roughly 15,000$ on it to buy out the vehicle and I have so many miles on it that it would cost me more to pay the mileage fees on it than to buy it. I was in a car accident that caused me to be behind on a bunch of payments and credit cards which I'm catching up on, so my credit is really bad at the moment so I am unable to get a loan by myself as I'm also on unemployment due to the car accident and pandemic. + +Are there any options available to me besides filing for bankruptcy? I'm in California if that maters at all. +thanks for any help. + +tl;dr upside down in car lease, bad credit so I can't get loan. Looking for options. +I'm looking for pointers/advice on creating an estate and/or a will. + +A few specific questions: + +* What is the difference between an estate and a will? +* What are the drawbacks of not having either a will or an estate? +* Between an estate and a will, which one is preferable? I've heard that having an estate can lead to lower taxes for the beneficiaries - is this true? + +I'd appreciate any knowledge people have here, or pointers to sources on these things. + +Thanks! + + +Hello Reddit and the amazing people on this subreddit! Long time lurker here needing some help on what to do. No sad story, just a guy with no family to talk about these things with. + +I need advice on what I should be doing with my finances when it comes to savings and my life, please see my bullet points below: + +* (28) years old turning (29) in Jan +* In a relationship of almost a year, I will be marrying this girl in (1) or two more years. +* Have (2) 401ks with different companies that I am no longer with sitting in a securian and Fidelity account. My Securian has about $15,000 while my fidelity has about $2,000 +* Current Job I am at does not have a 401k but is planning on launching one without a company match. +* I save about $1,200 a month and typically aim to max my roth IRA that is with Ally Bank. Currently $500 away from this years $6,000 contribution. +* Total Roth savings is about $11,000 dollars +* Have $30,000 in emergency savings and another $1,500 in my personal savings that I use to pay for vacations or the new xbox series s +* I have a brokerage account that I have dropped about $2,000 into that consists of the following stock: ATVI, ESPO, HYLN, ICLN , INTC. Before I get yelled at, I understand that these are weird choices, but are stocks that I personally interested in and its money I am not afraid to loose. HYLION TO THE MOON. +* Current salary is $85,000 + +Here are my $100 questions. + +* After I maximize my Roth IRA, where or how should I be saving money. +* What should I do with my 401k's from my past jobs. +* Is it worth to jump in on my new employers 401k plan? If they launch it there will be no company match from what I heard. +* Am I on track to retirement, I feel like I could be doing things much better. + +Any and all advice would be appreciated +Hello. I am 17 yrs old (18 next month) and my mom wants me out of the house. I have a full time job (with the option to work extensive overtime if needed) making only 11.30 an hour (with a raise coming in about a week or two), I have a car and only a little over a thousand in my savings. im looking at a decently nice apartment complex that is 749 a month for one bedroom. the good thing about it is that it is right next to my job, so even if something happened to my car, it would only take me a few minutes to walk to work. now as of right now my girlfriends parents are offering me a room in their house for 200 a month because they know of the troubles i am having in my family life. my only issue with this is that i would not feel comfortable taking up their space and being a bother to them, therefore i would not want to be there for more than say 3 months. does anyone have any tips or pointers for me??? going home is not really an option, so id appreciate concerns more toward helpiiing me budget or any tips on saving money or anything at all. i would really appreciate anything :) +Mods, please let me know if this isn’t an appropriate place for this. My friend (37F) passed away very suddenly while 39 weeks pregnant. She is survived by her husband, a 2 year old, and her newborn is on life support in the NICU. I don’t have details on her financial background but I would like to do something for her family. What can my friends and I do to help? Should I set up an education fund for her daughters? Any advice is much appreciated. Thanks. +Hello r/financial planning, + +I am a 19 year old college student who has just discovered that he has around 15k in savings. I want to use these savings to benefit myself in my future. + +I have several options which I have been weighing and I would like more opinions. + +The options are as follows: + +1. Pay off all student debt from my undergrad. + +2. Use these funds as a starter fund to help my medical school finances* + +*I hope to attend either the military med school or have the government assist in some capacity in paying for my medical school. + +3. Use these funds to start my Roth IRA and other long term finances. + +Please advise +Hi All- + +Im 28 have 50k to invest and have been looking into investment properties to rent out. My understanding is you get someone else to ultimately pay the mortgage through rental payments) and after 15 years or so it’s fully paid off and you just keep collecting cash. Even if you don’t have positive cash flow each year and just break even, isn’t this still a good investment because you’ll have value of house in 15 years? Am I missing something? Seems like amazing way to build wealth. Thanks! +I make $122,000 gross and have around $120,000 available for a down payment. Median home prices here are around $675,000. I am debt free and will be using a va loan (no pmi). 795-805 credit score. Should I buy now with low rates or wait for a potential correction? + + +Thanks for any input, I know posts like this can get repetitive. + +*target home price is $575k-$625k* + + +*** I should also mention that average rent for a 2br 1ba in the area is around $2,500*** +Ryan Cohen is abundantly aware of the short squeeze potential. He had 2k twitter followers just a week ago. Who do you think he's tweeting to with emojis and gifs? Us. + +He can't come out and bluntly discuss all of this. The SEC would be on his ass. His lawyers have already made him delete a tweet that was just a picture about a roller coaster. + +Imagine that shit. And now he tweets a 🥜 and retard at us. He is excited and literally can't contain it. + +But that ain't what I'm here to talk about today. + +The squeeze is going to happen. It is in GameStop's best interest for this squeeze to happen. + +Y'all keep asking what is the optimal price target to exit. **No one fucking knows**. + +This is gonna go past $100. After that, I have no idea where it goes and no one else does either. + +Remember [this shelf offering](https://www.sec.gov/Archives/edgar/data/1326380/000119312520312805/d67321d424b5.htm) we learned about at the last earnings call? + +The immediate reaction was bearish. The stock dipped. Our retardation was in question. Paper hands jumped ship because management was clearly too stupid to realize a squeeze was on the horizon. + +Turns out, management ain't as stupid as you think they are. + +**The optimal play for GameStop is to let us squeeze to the moon and then deploy the shelf offering at the top.** + +It'll maximize tendies for all parties involved. + +What does this mean for us? + +The squeeze is coming because **EVERYONE BUT MELVIN** wants it to happen. + +Imagine the news coverage GME would get from a historic short squeeze as it moves forward into a new Cohen World Order. GME wants this and prepared for this with their shelf offering. + +**My advice:** I don't know if it will be possible, but keep track of all GME news and if news comes out that the shelf offering is being deployed, then I recommend selling. As that may signal the top. + +**TL;DR:** Ryan Cohen and GME leadership know about the squeeze. This will trigger. They will deploy their shelf offering at the top. If you hear about it, sell to maximize tendies. + +**Positions:** 3300 shares at $16. Loads of 35c 4/16 options. + +TO THE FUCKING MOON 🥜🚀🥜🚀🥜🚀🥜🚀🥜🚀🥜🚀🥜🚀🥜🚀🥜🚀🥜🚀🥜🚀🥜🚀🥜🚀🥜🚀🥜🚀🥜🚀🥜🚀🥜🚀🥜🚀🥜🚀🥜🚀🥜🚀🥜🚀🥜🚀🥜🚀🥜🚀🥜🚀🥜🚀🥜🚀🥜🚀🌕 +EDIT: IT PASSED!!!! + +House set to pass legislation decriminalizing marijuana + +The House is once again poised to pass legislation to decriminalize marijuana at the federal level. + +https://abcnews.go.com/Politics/house-set-pass-legislation-decriminalizing-marijuana/story?id=83763719 + +The Marijuana Opportunity Reinvestment and Expungement Act, known as the MORE Act, would remove marijuana from the controlled substances list, leaving it up to states to set their own laws. It would also release people incarcerated on cannabis-related offenses of less than 30 grams and expunge criminal penalties associated with those who manufacture, distribute and possess it. + +"There's so many discussions that have gone on over the years about the use of marijuana or cannabis or whatever. The fact is, it exists. It's being used. We've got to address how it is treated legally," Speaker Nancy Pelosi said Thursday during her weekly press conference." + +"More than anything else, the MORE Act is about ending and reversing decades of failed federal policy that has taken a heavy toll on too many people across this country, with a disproportionate impact on communities of color," Rep. Nadler, D-N.Y., who authored the bill, said in a statement to ABC News." +My parents have been taking out money from my account since I've been working at 16 (I'm 18 now) and claim it for rent or just straight up taking the money without telling me (even though we never agreed to any sort of deal about rent) my father claims I live here for free without doing anything (funny that he says that when they ask me to buy things for my sisters when both of my parents have jobs) I just want to move out soon. + +A bit more info on this for everyone. My parents have been abusive to me and my younger siblings. I don't mean just spankings when I was younger but my dad leaving me with a black eye on Christmas eve in 2012 (I was about 11 at the time) because I wasn't doing a good enough job getting things set up for a party (Christmas is his birthday and he gets all high and mighty if he doesn't have his way and he got extremely drunk and even yelled at me for not knowing who was calling out house phone because our music was too loud for me to hear who was on the phone) I watch both of my siblings while my parents are off at work. I clean and do chores around the house. Though they still claim I don't do anything and just sit in my room all day (I mean who wouldn't want to stay away from their mom who comments on their stretch marks when I was reaching for something and she was able to see them) + +Both of my parents have jobs and make more than my 400$ bi weekly. I again want to mention that no terms were made out to me by my parents that I would pay them any kind of rent + +I really don't want to sound like a little snowflake who just doesn't want my parents to touch my money and that I don't respect the ones who raised me. Sure they raised me, but a calm hand in parenting does a much better job than a heavy hand and degrading words. + +If anyone would want to see the extent of what they've done to me I can link my post to r/vent +I want to invest long term, and if I'm gonna do that, I don't see any reason not to invest in the S&P 500. But obviously, millions of peoples still choose to invest in apple, disney, coke, etc. So what am I missing here? Is the "most traders won't beat the market" an exaggeration? I would appreciate some insight. +TL/CR- Everything, and I mean everything is on fire. There is no financial advice in this piece. It’s a list of nonsense for people who can’t read. + +I do lists. I’m fully regarded and can’t keep mush in order so this is what I do. When the list gets long I pay attention. Here is the list of shit currently, not in order of importance, more so to signify the state of that cartoon (insert your favorite degenerate arguing that everything is fine) who has a house on fire. + +1. The US Dollar +2. The US Dollar (IYKYK)[really big deal] +3. Aussie Bank has no pants +4. Go look at Turkey [F in the A cotton] +5. Brit Bank has no shirt +6. Yen has ceased to exist +7. Russia blows up own pipeline (go read currency wars) +8. Europe never stopped imploding +9. China prop market (remember them?) +10. Emerging Markets crisis 3.0 +11. Inflation is Transitorying into permanent +12. US housing bubble implosion (look up def of implosion) +13. Global food crisis (Billy people prolly die in next 18 months) +14. Kimmy getting a nuke +15. Arab Spring had a baby with Arab Oil Embargo to produce a spawn called $200 oil +16. Winter is coming (for Eur-a-dopes) +17. Supply chain is no chain at all (remember that? L.O.L.) +18. Recession that isn’t a recession +19. We still can’t get microchips +20. Pandemic that isn’t a pandemic anymore but still is a pandemic but maybe not (seriously WTF) +21. RRP facility continues to make all time highs (absurd MMT) +22. International stock market explosions (we see carnage) +23. Gas still above $4 and about to pop off after midterms +24. Did I mention inflation? Might become deflation +25. Frequent “slips” of companies laying off employees - more to come +26. FINALLY - GME has had 2 weeks of non-stop non-existent historically significant low volume. + +This is by no means a comprehensive list. It just speaks to the absurd environment that has been concocted. As for me, I like the stock. It is the only asset I own currently. I buy more for myself in my own regarded name and directly register them. May the odds be ever in your favor. +What I'm seeing is that people are panic buying and selling losing money to fees, and losing into their emotions. In order to combat this, think long-term, sure the stock price seems like it could be dropping or rising, if you made a decision to buy a stock, you should hold on to it. + +No sense making a few bucks here and there. In Canada for example using TD Web Broker, it costs $9.99 per stock transaction. Let's say for DIS, you buy at $100, sell at $105 and re-buy at $108 are you really making anything worth staring at? Having an understanding of the business model and cash flow of a company is very important in making a decision. Do you see the company being in business for the next 1-5-10 years? If yes, just let it sit and let your money work for you. +For anyone who hasn't seen the front page of the NYTimes today, they were apparently told it's time to spread a little FUD. + +https://preview.redd.it/vm696qhv8pl71.png?width=1440&format=png&auto=webp&s=d8ad3117b41ea1480a8501c188f76d00ee371362 + +Which is fine. Nothing new, right? But what is surprising is the amount of comments that are negative with a lot of them outright calling for the U.S. government to ban crypto. My favorite comment is this one, which applauds China for it's use of the ban-hammer. + +https://preview.redd.it/sdxfigt4cpl71.png?width=577&format=png&auto=webp&s=6681c7d294383a35df3554f3b1fc8b3d39f28d1e + +**My conclusion has to be that we are still insanely early. I'm going to keep on DCA-ing.** +Great experience overall — however 🚨🚨unpopular opinion alert🚨🚨 I will be contacting Customer Care and voicing my concern for how hard I was being pushed to opt-in to the warranty coverage. I had to politely decline multiple times, as I trust Sony to make a quality product and I believe the manufacturer warranty is sufficient. +Is a ploy to steal your shares. The decline already happened. Biotech is down 90%. They bottom and rally first + +Elon and Ron Barron are telling you don’t afraid, both are buying the dips. + +Elon trying to get the party started with his big dogie buys. Now the gates will open up and everyone who sold waiting for the recession will panic buy at ATH’s. + +I don’t see any YouTubers calling for ATHs… Remember we went through this in march 2020 and that was far worse than any collapse in history +Makes me think of a post on here a while ago concerning the 100+ hour weeks in banking. This guy talks about that firsthand + +http://www.wallstreetoasis.com/blog/why-i-left-a-seemingly-perfect-megafund-pe-gig-for-a-guaranteed-salary-of-000 +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. +# The Fails to Deliver are the lynchpin of the market, and we can confirm that Citadel has been buying Put options for GME since at least 2010.... Why does currency have inflation every year? Because synthetic shares are included in the money supply...FTDs not only devalue our company, they devalue our currency. They're not just stealing from investors, they're stealing from our countries...Mind...Blown + +https://preview.redd.it/s1vazig9e4v71.jpg?width=1093&format=pjpg&auto=webp&s=59efcaf8616dc039576cf16f98ddd94a7991fd4e + +**vvv Citadel - 13F - March.31.2010 vvv** + +[https://www.sec.gov/Archives/edgar/data/1423053/000119312510122106/d13fhr.txt](https://www.sec.gov/Archives/edgar/data/1423053/000119312510122106/d13fhr.txt) + +&#x200B; + +https://preview.redd.it/i6f1wejfc5v71.jpg?width=1000&format=pjpg&auto=webp&s=e88d2ed89084fbaa86da29d5d7216c0d237dcb56 + +**...how long has this naked shorting been happening in our history? Einstein says "Keep Everything as Simple as Possible, but Not Simpler" so in other words, I can't shorten these screenshots, and you should read them in entirety. Not much of it is filler sentences.** + +SEC site is a GOLD MINE and I've made it back to March 2005, and there's material galore on all the grime we want to expose, you just have to dig for it with me. + +**I asked Ai to read this link and this is how it responded to "Is the market manipulated"** + +https://preview.redd.it/es8c4sspl4v71.jpg?width=719&format=pjpg&auto=webp&s=bae58d06a11787357df8ad008e4e89f9ca57f281 + +[https://www.sec.gov/comments/s7-08-08/s70808-318.pdf](https://www.sec.gov/comments/s7-08-08/s70808-318.pdf) + +***Immediately they go right into how the press and newspapers were used by stock manipulators in 1600's Amsterdam to plant false rumors about targeted stocks. Congratulations, we've now traced short selling with bad press to the 17th Century:*** + +https://preview.redd.it/f5erj52pz3v71.jpg?width=541&format=pjpg&auto=webp&s=566975608e21aa0fdcd806896a0c439a8753d352 + +&#x200B; + +https://preview.redd.it/ufbepscn04v71.jpg?width=550&format=pjpg&auto=webp&s=7f3eee3dfd8102d979e064a21037c7444473ba6a + +&#x200B; + +https://preview.redd.it/fznqejkj14v71.jpg?width=551&format=pjpg&auto=webp&s=4d5a532db99957212d4188967bad96dbc10d590e + +Here's the language, and it took me a second to translate, but basically this is saying that **when someone wants to move the value of a company, they don't need to put out bad news or bad information on the company.** Essentially, they don't need the bad news to move the price, and it can be done without the news involved at all if I extrapolate. + +**The bad press you see is for Optics. They need the bad press so they have cover fire while they short the fuck out of a stock**...so you see a company's ticker dropping so you go check the news... what does it say? Oh this car company is down today because their battery car caught on fire? This is why we can use the news as indications of short selling...they can't do one without the other because they couldn't just short a company for no reason that has no reason to be losing money the way it does when counterfeiting their shares. These companies are only losing money because these counterfeit shares are literally stealing investor money that could be going to expand your invested company. + +**Towards the end of this next image you see it states:"Uninformed liquidity traders have less freedom to time their sales, and so informed traders, such as corporate insiders, are able to profit by exploiting both their information advantage and the liquidity traders’ timing disadvantage"** + +&#x200B; + +https://preview.redd.it/872f312l54v71.jpg?width=539&format=pjpg&auto=webp&s=650ba20ccf7ba41950fb0375413e760f3edd7386 + +&#x200B; + +https://preview.redd.it/tash5uup54v71.jpg?width=525&format=pjpg&auto=webp&s=6759e8981bc3703cdbe3831d8d74112531565fd0 + +\------------------------------------------------------------------------------------------------------------------------------- + +https://preview.redd.it/gyfowlhd44v71.jpg?width=528&format=pjpg&auto=webp&s=93b4124a381b93d3fc440946d1caa253fb28782a + +# More confirmation bias on large traders affecting price and drawing in 'Noise' traders buying and selling large volumes of shares. Sound familiar? + +https://preview.redd.it/jfefuagd64v71.jpg?width=532&format=pjpg&auto=webp&s=24a0a697171d8f8f223811626b5394abc4f74313 + +# ----------------------------------------------------------------------------------------------- + +# "There is mounting evidence that manipulative short selling has seriously disrupted the market for some over-the-counter stocks." (OTC) hmmmmmm + +&#x200B; + +https://preview.redd.it/pye7i83b74v71.jpg?width=535&format=pjpg&auto=webp&s=78df7a4312da482b9c75d9d4800dac397bd9b2a6 + +# ----------------------------------------------------------------------------------------------- + +# "He can obtain as many conversion shares as he needs by short selling the price downward just prior to the conversion notice date" + +&#x200B; + +https://preview.redd.it/q95s6w7784v71.jpg?width=533&format=pjpg&auto=webp&s=26dea9ebf8d4d48ecd77a521152ea5e452c02452 + +# ----------------------------------------------------------------------------------------------- + +# This part is for you geniuses/programmers/Ai writers out there who know how to read math better than me or how to apply these equations as stated in this research citation. It looks like they already modeled how manipulators affect the market: + +&#x200B; + +https://preview.redd.it/aviglsnm84v71.jpg?width=538&format=pjpg&auto=webp&s=f20e1c90860cd470218f1c5b489ffcbb2a70abd6 + +&#x200B; + +https://preview.redd.it/p9uqojso94v71.jpg?width=1013&format=pjpg&auto=webp&s=87b6cba9f5a1ba6f47c08659e052ee57f9f48b20 + +&#x200B; + +https://preview.redd.it/eno160pq94v71.jpg?width=730&format=pjpg&auto=webp&s=9256490859e0881cf7b5aea117e287268a494cee + +# ------------------------------------------------------------------------------------------- + +**This deserves an award!** + +https://preview.redd.it/nwteiwr0o4v71.jpg?width=668&format=pjpg&auto=webp&s=94bf4c9e1f57453b702f3d95da065ca2be0d2d9f + +# This is a 73 page document and they, like true apes, give us a tl;dr... what I take away is a new phrase "Floating-price convertibles" or FPCs + +"This research should investigate whether FPC investors short the issuer’s stock, for example, in anticipation of submitting conversion notices" + +&#x200B; + +https://preview.redd.it/36e0hgtca4v71.jpg?width=557&format=pjpg&auto=webp&s=f25e2b03fa9fff76dc1b7e2bc0baf1494011faf8 + +&#x200B; + +https://preview.redd.it/rmgrubzqa4v71.jpg?width=531&format=pjpg&auto=webp&s=d0ffe9397caf678e9a217335a29c0ae4b228cc72 + +https://preview.redd.it/5xh8kizqa4v71.jpg?width=542&format=pjpg&auto=webp&s=28f0f4c593a304a708fdd8b20716971cdb0bad7b + +\------------------------------------------------------------------------------------------------------------------------------------- + +PSA- only b\*t accounts say "cumulative" or "aggregate" when talking about FTDs + +\------------------------------------------------------------------------------------------------------------------------------------- + +Computershare is the way. DRS is our only logical means of supplying ourself with one course of Remedy...one of them + +**That being said, it's time to put a magnifying glass on these FTDs and FTRs Fails to Receive. All of retail trading is infected with FTDs and naked selling of securities. How else would predatory shorters stay afloat without naked selling? We KNOW of 192 million recorded FTDs of GME since 2014...what we dont know is how many FTDs exist just from naked selling securities to unknowing retail investors...** + +# Part 1: FTDs are nearly never bought back in + +[https://www.reddit.com/r/Superstonk/comments/qc4lmk/sec\_documents\_show\_that\_ftds\_are\_nearly\_never/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/Superstonk/comments/qc4lmk/sec_documents_show_that_ftds_are_nearly_never/?utm_source=share&utm_medium=web2x&context=3) + +# Part2: Everything FTD - 142 pages of Jim Decosta + +[https://www.reddit.com/r/Superstonk/comments/qdp9c6/the\_everything\_fails\_to\_deliver\_dd\_part\_2\_lets/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/Superstonk/comments/qdp9c6/the_everything_fails_to_deliver_dd_part_2_lets/?utm_source=share&utm_medium=web2x&context=3) + +And I don't know about you guys/gals but you should give it a shot at research, because you never know who might see your efforts, and notice... + +# + +https://preview.redd.it/n8101xmov4v71.jpg?width=853&format=pjpg&auto=webp&s=45b0505f3dd152298d6e20a3e01fade5e45b88c0 + +# #SECknows <------ Tag all these documents like this, help me + +***Is there a lawyer ape that can put together a FOIA request for all FTDs and FTRs since 2007 for GME?*** +I'm so sorry for the long post. I just don't even know what to do. + +My 35 year old cousin is mentally ill (Asperger's, suicidal depression and extreme anxiety). We were really close as kids and young adults because his parents weren't able to handle his illness, and when I got a good job, we decided to move in together as his mental illness got worse so that he could have some stability and support. Please note I said "move in together" meaning we intended to each pay a fair share of rent according to our abilities, but this has become a tangled financial mess where I'm resentfully providing for him. + +Starting off, before we even moved in, I paid for $3k in hospital bills when his retired parents couldn't afford it. I could barely afford it (I was making $20k/yr back then) but figured it was a one-time expense and worth taking it off his mind so he could start his recovery with a clean financial slate. His mom was supporting him for a while but cut him off because she had to focus on supporting his sister, who is also mentally ill and somehow even worse off. Cousin's a smart and sweet person but very deeply troubled, and trying to get him on disability is a long story that ends in him having a breakdown because he can't handle it. + +He seemed to be doing better for a time and actually managed to get a job (great!). So we moved in together (not great in retrospect). Our rent is $1400 on a 2br, and when it turned out he couldn't pay even the $400 a month in rent I asked for on his retail wages, I asked a friend to move in and be a third housemate. I currently sleep in the living room, and my cousin can't even afford to pay $200 a month, so I'm paying $850 and utilities to cover the both of us. Cousin is very, VERY resentful about roommate #3's presence, but I told him in no uncertain terms that if he couldn't contribute, he had no say over who the second bedroom went to, and it wasn't even like I was kicking Cousin out of his room--I was removing myself to the living room. (I know, I know, I'm ultimate doormat.) + +He works retail at a clothing store but talks about how he hates it so much and wants to quit because he feels like he's losing his mind. Fair enough--the whole point of all of this is to help him find some stability so he can start managing his mental illness. I told him he could quit if he had another job lined up, but he burst into tears and said he couldn't possibly work white-collar again and he wants to do his pipe dream job of being a screenplay writer when he hasn't even done any writing. He has also let his food stamps lapse due to anxiety (I'm currently hounding him to get back on them). Even little things have started to drive me crazy, like how he leaves the AC on all day when I'm paying for it, or how he'll forget to wash dishes and then have a panic attack about how messy the sink is. + +At a guess, I have probably poured over $18k into all of this if you include missed agreed-upon rent payments and $13k if you don't. I'm at a really good 80k/yr job now, but it won't last forever (contract work) and once it's over, I'll be back to scraping by. This is eating into the savings I wanted to be making for myself for the lean times ahead. + +I guess the final straw is this: + +He got a ticket for making an illegal U-turn as he was dropping me off. There wasn't proof of insurance in the car at the time, so we went into court and showed them the proof of insurance; it turned out to be for the wrong time period, so they told us to come back with the right proof of insurance. + +I fucked up because I put off getting the right proof of insurance long enough (sorry, cringe, I had a really busy month) that he somehow lost the... court... paper thing? So we missed the deadline for payment, so now there's a bill for $1800 sitting on the kitchen table from a collection agency working for the courthouse. + +I'm so angry and frustrated, mostly at myself, because our collective inaction means that I have to shoulder the debt because he has no money to pay it with, and this has been the case for the entirety of this weird fucked-up money-lending period. I always have to be on top of both my shit and his shit; I can't rely on him to ever be a grown-up, even though he's 35, because the moment he has to face consequences for his actions, he has a complete meltdown and is unable to function and then he has to go to the hospital and MORE BILLS. + +I can't even hand him over to his parents because they're poor and incredibly exhausted from dealing with his somehow even more troubled sister. But I don't want him to like--be homeless and die on the streets, you know? He's really straight-up not well, and he's family. I mean, I can tell that we have removed all consequences for him, even down to washing the dishes, but... what else can we do? + +So ugh, if you've managed to get to the end of this, I have a couple questions for what to do: + +1. Is there *anything* at all that I can do about this $1800 bill from the collection agency? Or do I mentally write it off as tuition fees from the school of real life? For reference, I'm solvent enough that I can pay it off right this second, but... ugh. + +2. Can I plead my case in court? He was actually covered by my parent's car insurance at the time, and I got the correct insurance info. + +3. What... the hell... do I do from here on? I can't expect to be paid back for any of the money I loaned him--that's clearly never happening. But how do I extricate myself from the financial drain of paying for everything on his behalf without dumping him on the street? + +tl;dr +I am resentfully providing for my cousin, who I was previously very close to, because he is mentally ill and unable to care for himself. It is eating into savings I desperately need for lean times ahead. Now I have a $1800 bill from the collection agency and I'm sick of all of this. + +**Small update: Hey guys, thanks for your all help on the ticket! Without the combined advice of r/personalfinance I probably would've paid off the whole balance immediately, but instead I have all my documents in order and I made an appointment to see a judge. :) Thanks again!** +Some of you here are so delusional. At least daily I see someone saying some variation of "it hasn't dipped below -irrelevant support- so its not a bear market!" + + +No. A bear market is an ACTUAL financial term, with an actual definition. + +>a bear market has a very specific definition: when the market is down 20% *for at least a two-month period* + + +It does NOT matter if it hasn't dipped below the previous bottom, etc. + + +You've all been deceived into thinking bear markets are bad. They're not. They're where accumulation happens. You can't properly DCA without dips. + + +Edit: and for all of you saying "Crypto is different!!!", would you have the same attitude if we were coming out of the bull market that got us to ~$1k? Why not? (So far no one has answered this lmfao. It's not different, quit deluding yourselves. 12 hours and still no answer that's furthe than 'volatility' or 'the volume!'. and 24 hours now; no one has said anything to dispute why crypto is different. Keep deluding yourselves.) +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. + +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. +As we have all seen, the congressional report has exposed the plan to rig the game further in 11 months time. I see many Apes talking about how this is the exact evidence needed by the GameStop board to request a removal of shares from the DTCC. But what I don't understand is if that were to happen, where exactly would the shares then be held? +[Algorand](https://coinmarketcap.com/currencies/algorand/) is supposed to have a max supply of 10B and was launched in June of 2019. As of Jan. 01st 2021 it had a price of $.399 and a circulating supply of 1.19B it ended the year with a price of $1.66 and a circulating supply of 6.36B. Meaning over the course of a year in 2021, Algorand inflated at a rate of 533%. + +[ALGO Information Jan. 01st 2021](https://preview.redd.it/43aaht1u0aa91.png?width=361&format=png&auto=webp&s=70aae78d46e82748f03b2f765c5868a4290557df) + +[ALGO Information Dec. 31st 2021](https://preview.redd.it/7y0q6gtz0aa91.png?width=367&format=png&auto=webp&s=ecabb01246a3e40891f7e8fb32b6768cb29964f9) + +[ALGO Circulating Supply graph 2021](https://preview.redd.it/fp38v6w21aa91.png?width=1196&format=png&auto=webp&s=d975874e301f0ca8fda2e1dcc72b1fdbb076a054) + +If we look at [just the last year](https://messari.io/asset/algorand/chart/sply-circ) the circulating supply increased from 3.11B to 6.97B an increase of 224% over the last year. Meaning for every 1 Algo that was in circulation 1 year ago there is now 2.24 Algo. That huge increase in the total number of circulating Algo helps to explain why the price has crashed so hard during this bear market. + +[ALGO Circulating Supply past year](https://preview.redd.it/dlriiwp71aa91.png?width=1218&format=png&auto=webp&s=49336fd84039f14c381ec5ff67d4f54712105124) + +So the question is; What caused this mass inflation and should I be worried? + +**What Caused the mass inflation:** The short answer is [Algorand Accelerated Vesting](https://algorand.foundation/news/happening-now-relay-node-runners-voting-on-eip-11252019af) played a huge role, the Algorand team gave away [3.1B Algo through this program](https://algorand.foundation/news/accelerated-vesting-complete) with most of that being given away in 2021. Algorand Accelerated Vesting was designed to act as a loyalty system for early supporters of Algo and was proposed in Nov. 2019. It was designed to reward those vesting their Algo and provide an additional bonus for node runners. + +The proposal was originally set to run through 2024, however there was a backup that would flood the market with Algo through the vesting program, if the price of Algo rose too quickly. Which as a result of the 2021 bull run - the vesting ended three and a half years early. + +**Should I be Worried:** Yes/No + +* The good news + * Now that the accelerated vesting has ended, 2.63B of the remaining 3.03B Algo yet to be distributed is set to be distributed over the next 7 and a half years with the rate decreasing exponentially - through the [Algorand Community Governance Program](https://algorand.foundation/governance). So the market should not continue to be flooded with newly minted Algo at the same rate as it was in 2021. +* The Goodish Bad News + * Goodish: For those that were sitting on the sidelines looking to invest in Algo, you shouldn't have to worry about having the relative value of your investment watered down in the same way as it was in 2021. Assuming the total supply of ALGO never passes 10B - the max amount Algo can inflate in the future is, 42.8%. + * Badish: If you're already significantly invested and purchased prior to Sep. 2021 the amount of Algo in circulation since you purchased has doubled (or more). Meaning the relative value of your investment considering the circulating supply has decreased by over half - For every 1 Algo in circulation when you purchased there is now 2-6 (depending on when you purchased in 2021). +* The Bad News - The inflation rate of ALGO going forward isn't "entirely clear" + * At least 2B Algo was released into circulation in 2021 through means other than Accelerated Vesting + * Some of this may have to do with a [change in the definition](https://algorand.foundation/news/aligning-algo-circulating-supply-metrics-for-algorand) of "circulating supply of Algo" that occurred in Sep. 2021, this was to included Algo held by 3rd party partners that could be sold at any time (it wasn't locked up). However, it's not clear how much this impacted the overall increase in circulating supply. + * 603M Algo has been released into circulation in 2022 so far ^(we're barely halfway through the year) + * The inflation rate of Algo is supposed to decrease exponentially and [was supposed to be 6%](https://solberginvest.com/blog/algorand-inflation/) in 2022 - However it's currently at a 9.5% increase in the circulating supply for 2022 and again we're only halfway through the year. + * This can partially be accounted for by a drop in the difference between circulating supply and total supply - from roughly 550M in Oct. 2021 to roughly 400M currently according to CMC. However even accounting for that 150M ALGO that was added to circulating supply outside of regular inflation - The inflation rate so far in 2022 is nearly 7%, and again there is still half the year to go to bump up the inflation rate. + +[Roughly 400M difference between circ. supply and total supply](https://preview.redd.it/d48qydmd1aa91.png?width=475&format=png&auto=webp&s=616c3b86f0e02bede747bb33914a9532245f34d1) + +The [Algo Foundation website regarding distribution](https://algorand.foundation/governance/algo-dynamics) doesn't exactly help with the confusion. In total the circulating supply has increased from 1.19B in the beginning of 2021 to roughly 6.97B today an increase of roughly 585% in a year and a half with the total supply sitting at 7.37B. According to the foundation website, Algo is supposed to have a total supply of about 6.67B by 2023 and we're already at 7.37B - again this can partially be accounted for by the fact that accelerated vesting finished three and a half years early. + +Also note according to the chart below the last roughly 1M tokens is supposed to be distributed from the end of 2025 to 2030. + +https://preview.redd.it/jn99yr6h1aa91.png?width=1114&format=png&auto=webp&s=b5a2402c729eca4a70b46c5645854d754acde6f8 + +So technically speaking ALGO inflation is "supposed" to decrease exponentially over the coming years so it's not totally surprising to see high inflation in the short term. If it does as it's supposed to we're through the worst of the inflation and the rate of inflation in 2026 will be a very low single-digit percent. + +**If the** [ALGO 10B total supply number holds](https://forum.algorand.org/t/reasons-for-the-max-supply-of-10-billion-algo/2678) **it's just a matter of riding out the massive inflation in the short term**. But [a word of caution, JASMY](https://np.reddit.com/r/CryptoCurrency/comments/t7lk8z/jasmy_token_rug_pull_warning/) was supposed to have a total supply of 4.7B yet in total, it is over 20B. + +TLDR: Algo mass inflated 585% in a year and a half, could be good for some - bad for others, assuming the 10B total supply holds. But the future inflation rate isn’t clear at this point. + +**Edit: I didn't realize this needed to be said upfront.** But NO I do not think mass inflation is 100% responsible for the current downward price turn of ALGO. Of course the greater market economic outlook is impacting it as well. However people claiming the mass inflation has nothing to do with the price impact - you're being disingenuous. +...where they block every "fun" website imaginable - facebook, twitter, youtube as you would expect. They also block reddit and every subreddit except for....../r/investing. Take that for what its worth +I am a software engineer working remote for a foreign firm. My sallary is pegged to the USD, so it will increase when my local currency is depreciating. Currently Sri Lanka is one of the countries with highest inflation. There is going to be powercuts because the government doesn't have enough USD to buy fuel for power plants. It's going to be much much worse in the months to come. + + +I have been working on migrating out of the country for a while now. But that's a long term goal. In the short term I thought of + + +Buying physical USD bills and keeping them in a bank safe as the local currency keeps depreciating. I initially thought about binance as well but favoured the physical notes idea because I was uncomfortable with the risk associated with the latter. + + +Get a battery powered by solar electricity for my apartment to survive longer powercuts. + + +That's pretty much the only things I can think of. Please let me know if there are more? On the side note there are massive protests going on right now demanding the current corrupt dynastic government to step down. I do take part in those as I see it as my responsibility. But in the meantime I need to prepare myself. +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. + +* March 3 — An emergency 0.5 percentage point interest rate cut. + +* March 15 — Another 1 percentage point rate cut, taking the Fed’s benchmark for short-term lending down to near zero. + +* March 15 — At the same time as the second rate cut, the Fed lowered the rate for banks to borrow at the discount window by 1.5 percentage points and cut the reserve requirement ratio for banks to zero. + +* March 17 — In the first of a slew of measures aimed at keeping credit flowing through the financial system, the Fed said it would start buying commercial paper, or the short-term unsecured debt that businesses rely on for operational cash + +* March 18 — Another facility providing credit to keep money markets functioning properly. + +* March 19 — A new operation focused on currency swaps aimed at other institutions in need of dollar-denominated assets. + +* March 20 — An operation headed by the Boston Fed to buy municipal debt. + +* March 23 — An expansion of the Fed’s originally announced asset purchases, which were supposed to max out at $700 billion but now are unlimited depending on the need to support markets and the economy. The purchases already have expanded the Fed’s holdings on its balance sheet by more than $2 trillion. + +* March 23 — In addition to the next leg of quantitative easing, the Fed also announced a $300 billion credit program for businesses and consumers. The initiatives include two credit facilities for large employers, an expanded Term Asset-Banked Loan Facility for businesses and consumers through the Small Business Administration, and an expanded money market facility that includes municipal debt and certificates of deposits. + +* April 6 — An announcement that the Fed will provide support to the Treasury’s Payment Protection Program aimed at incentivizing businesses not to lay off employees during the coronavirus-induced shutdown. + +* April 8 — A modification for the asset restriction it has placed on scandal-plagued Wells Fargo to allow the third-biggest U.S. bank to participate in the business lending programs. + +* April 9 — The coup de grace, a $2.3 trillion lending program that will extend credit to banks that issue PPP loans, purchase up to $600 billion in loans issued through the Main Street program to medium-sized firms. The moves also involve secondary corporate credit facilities that will allow the Fed to buy corporate bonds from “fallen angels” that have slid into downgrades, and a $500 billion program to buy bonds from state and municipal governments. + +https://www.cnbc.com/2020/04/13/coronavirus-update-here-is-everything-the-fed-has-done-to-save-the-economy.html +Hi guys, it seems like there's very little info online about prop shops and vol arb. Thought it would be cool for anybody who's interested to be able to find out more from an "insider". Feel free to ask about the job, options in general, volatility, algo trading, market making, hedging, etc. +Interesting that Fidelity finally came up with "Shortable Shares" to Lend for GME after a dry spell of **~52.5** Consecutive Trading Days @ ~05.34AM this morning + +Albeit there is not a lot (only **22,062**) right now, it does raise an eyebrow. Of course, I will be silently watching/monitoring in the background. Would suggest you all do the same (if possible). + +As usual, here is the [Sauce](https://imgur.com/gallery/EPbUp9y) + +When Fidelity went to 0: [12:40PM on 2022.05.24](https://www.reddit.com/r/Superstonk/comments/uwn8af/fidelity_share_lending_may_24_2022/) + +Much Love!!! 💓💓💓 + +*** + +**Info Update @ 09:16PM** + +* Fidelity GME Shares + * Estimated **108,842** Shares Borrowed/Removed + * Currently Available: **91,326** + * Cost To Borrow: **25.75%** + +* Fidelity XRT Shares + * Estimated **245,671** Shares Borrowed/Removed + * Currently Available: **637,485** + * Cost To Borrow: **0%** (Yeah, it is 0 to Borrow, but **35%** Margin/Collateral Required) + +* IBKR GME Shares + * Estimated **85,000** Shares Borrowed/Removed + * Currently Available: **100,000** + * Cost To Borrow: **27.40%** + +* Stonk-O-Tracker ETFs + * Estimated **3,384** ETFs Borrowed/Removed + * Currently Available: **17,756** + * Cost To Borrow: **Varies By ETF** + +* (10:30AM) Mark: **20** XRT Shares Just Borrowed/Removed from Fidelity + +* (10:42AM) Mark: **50** XRT Shares Just Borrowed/Removed from Fidelity + +* (11:56AM) Mark: **50** XRT Shares Just Borrowed/Removed from Fidelity + +* (12:20PM) Mark: **15** XRT Shares Just Borrowed/Removed from Fidelity + +* (12:45PM) Mark: **50** XRT Shares Just Borrowed/Removed from Fidelity + +* (12:58PM) Mark: **50** XRT Shares Just Borrowed/Removed from Fidelity + +*** + +#Tin Foil Area - Proceed With Caution + +Alright, in lieu of this recent event; I'm going to share a little insight and give you all some things to look for yourselves (will not be actively updating the Post like I used to). + +Here are some "signals" used in the past (that I filed two SEC Reports on). Now, I am not going to say which is which; but will let you all decipher for yourselves. Keep in mind to see correlations, you want to also monitor the following: + +* XRT Daily Chart (1 Day - 1 Minute Intervals) - Zoom in as needed, this is used as an Indicator + +* Options Chain (Weekly) - You want to monitor Volume + +* Fidelity's Lending of GME - Really need to see minute by minute changes to capture the correct "Signals" + +* Fidelity's Lending of XRT - When GME went dark, SHFs transitioned somewhat to XRT Borrowing for Signaling + +*** + +Now, let's see if they are still pulling the same shit or if SEC actually busted their ass... + +Signals: Look for "Odd Lot Borrows", namely those of "10", "15", "20" and "50" (Yes, it really is that simplistic) +Meanings (in no particular order, not going to make it that easy 😋): + +* Cover ETFs + * Watch XRT spike up either immediately or within next couple minutes, GME usually will spike as well unless they have enough Borrowed Shares or Puts to suppress + * FWIW, if you are actively monitoring you can get an idea if the spike will be volatile or not (hence my terming it a **SNEC** in the past) + +* Short via Options + * Watch Puts Volume and GME will either tank of sustain when it should be going up - AKA XRT going up due ETFs Covering is occurring while SHFs use Puts to hold or GME and XRT tank + +* Help + * SHFs asking for Help (Can be asking for others to Borrow, get Puts, etc. Hard to decipher, but shows Algo is desperate. Seen Algo stuck on repeat when getting Trapped or beat + +* Short via ETFs (Watch XRT go Deep 6) + +* There are others like "50", "33", "54" and "100" that I haven't fully sorted, but that is the "5 Mile View". Do with it as you wish + +* Last note: Not all signals occur as often, but usually happen at least once Daily. - NFA! +My taxable brokerage account has a few stocks/ETFs I'm not in love with long term that are down quite a bit more than the market (e.g., bought some COIN, ARKQ, and ARKG to diversify at their height). + +I'm on the fence as to whether or not to keep those losers and see if they bounce back more than the S&P (or if I need to offset taxable gains from future sales) or sell them and get those funds into SCHD or VOO now. + +I'll sell at least $3k worth of losses to offset income, but I don't have any other taxable gains to offset this year. Is there any consensus as to the best path forward? +&#x200B; + +[Lightning Network payment volume and quantity. Source: Arcane Research](https://preview.redd.it/dt8cdgurdtu81.png?width=1520&format=png&auto=webp&s=0dcf6d009fc53292d6ffe95bc3e4566aa7cfbfe1) +More info over on r/retard_bot + +Notice the title is now $5K to $106K, not $1M. It takes \~25% weekly gainz to hit $1M from $5K in 6 months. Last week the market shit itself and Retard Bot only printed 13% By Tuesday when it gave fail-stop orders to sell, so 13% avg so far = $106K. + +***Edit: For new people,*** *since the original posts got removed after hitting the front page of WSB, Retard Bot is retarded code I wrote in JavaScript to fry tendies with. But instead of the 100% loss I expected, I got 100% gainz 3 consecutive weeks paper trading / testing it. Now I'm putting my IRL money on the line with it, more info below.* + +Original posts: + +* [Climbing from $5K to $1Mil in 24 weeks with a retard bot \[ week 1 \]](https://www.reddit.com/r/wallstreetbets/comments/gi7tp7/climbing_from_5k_to_1mil_in_24_weeks_with_a/) +* [$5K to 1 Mil Retard Bot \[ Week 1 Results \] \[+13%\]](https://www.reddit.com/r/wallstreetbets/comments/gkfmp2/5k_to_1_mil_retard_bot_week_1_results_13/) + +This post is long but the important shit is at the top. + +[Ultra wide monitor compatible full resolution desktop background for all 🌈🐻s](https://preview.redd.it/i4ixunof5iz41.png?width=2560&format=png&auto=webp&s=13310910157edb640306bb43f60a6c6e474c2e8b) + +Last week 2 things happened affecting retard bot. + +1. I was banned from WSB by the 🏳️‍🌈 mods because they thought retard bot was fake. +2. Jpow made a speech to expect a sideways market until he orders new inkjet cartridges. + +On Tuesday I posted Retard Bot’s monday positions that had made 13% already when #2 happened, I had only trained it to handle a bull market so when the trailing failstops alerted me to sell I pulled out of the positions with the 13% gainz (lol no i didn't, I held like a retard and had to buy SPY puts to ride back up to 15% for the week). This made it to where my only gainz were before I posted the positions Tuesday, so thats why the mods thought it was fake. + +So we reached an agreement that I would only post Retard Bot’s trades live from now on so you all can know this isn’t all 🏳️‍🌈 wsbgod style bullshit. Fair enough. + +I meme and shit about training retard bot with inversed DD because it’s what makes wsb fun, but it’s really a complex program I spent 3 weeks of 12 hour days developing because I’m addicted to seeing green in my RH account. Autistic shit: It is actually JavaScript, powered by Node.js, using clustering to go multi-threaded and leverage every core of every AWS cloud server I load it onto, reporting back to a command and control server that combines progress learned from ML so I can dump money into more and more computational power to speed up the machine learning with some of the tendies I make from it and make Retard Bot less and less retarded every day. **Retard translation:** Runs on Internet Explorer. + +**So what happens next?** + +Right now retard bot only knows calls. Unless today magically turns into a bull market: I need a week to give Retard Bot the tools to profit in a crab or bear market. I have 4 twelve packs of Mountain Dew, GUH pulled up on YouTube with some lube at the ready, and most of the week off of work. Starting next monday, RB will know how to use not just calls, but puts for severely downward projections, spreads for high volatility upward and downward projections, and iron condors for high volatility sideways projections. And it’ll post its trades in real-time throughout the week as comments to the monday post I make. + +I’m gonna use the bear market data from 2000 and ‘08 to make sure the retard bot is 🏳️‍🌈 enough to be up for the challenge and train it if it’s not. + +**What else?** + +Introduction of Starter Mode: + +On the [Friday week 1 results post](https://www.reddit.com/r/wallstreetbets/comments/gkfmp2/5k_to_1_mil_retard_bot_week_1_results_13/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) a pretty good comment got posted that most of us broke bitchez can relate to: + +[Being below $25,000 is a pain in the sack because you can't flip day-trades like a madcunt, lest you get flagged.](https://www.reddit.com/r/wallstreetbets/comments/gkfmp2/5k_to_1_mil_retard_bot_week_1_results_13/fqsq250/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) + +I also have this problem. And now that the market's on hard mode since Jpow announced his printer is running out of ink, I can't just sell Retard Bot's positions if the market crashes and the broker flags my day trades. + +So I spent the weekend coding a Starter Mode for Retard Bot, designed for going from $5K to $25K. It cherry picks the very best 3 positions it can find in the final 3 hours of each weekday so if the market crashes, it shouldn't drop much before close so RB can sell the next day or same day if it's a really bad drop and use the 3 day trades quota for the week. + +That's all you 🌈🐻s need to know. Go make infinite tendies on deep otm spy puts. Peace bitchez. Until next week. + +But for those of you autistic fucks that need more info than that well here it shitfucking is. I got asked so many questions and PMs when the last two posts for week 1 hit WSB front page, I wanna address them all so you tardfucks can stop blowing up my in-box. + +**Project Map** + +1. Pass real time analysis of a gecko's eating patterns into retard bot's machine learning system to project current upcoming market sentiment +2. Add support for spreads. A co-worker kept telling me they're better, and make time work for you, theta, IV, something something, which was boring so I didnt care. But then I read [a DD confirming this](https://www.reddit.com/r/wallstreetbets/comments/gk3bq3/a_basic_introduction_to_vertical_spreads_stop/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) which obviously makes it fact. +3. If the retard keeps shitting out gainz, I build a free website and app so you autists can watch its shit choices in real time. Any excuse to not watch your own accounts shit out more red than that wedding in GoT. + +**FAQ** + +>**Q:** [If you see results, would you make this available to us all? I just checked and retardbot.com is available.](https://www.reddit.com/r/wallstreetbets/comments/gi7tp7/climbing_from_5k_to_1mil_in_24_weeks_with_a/fqd58aa/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) +> +>***A:*** Yes, if the retard keeps shitting out tendies, I will publish a free app and website for wsb that shares retard bot's live trades. [So I bought it.](https://www.reddit.com/r/wallstreetbets/comments/gi7tp7/climbing_from_5k_to_1mil_in_24_weeks_with_a/fqd5nda/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) + +&#x200B; + +>**Q:** [Are you profiteering off wsb with a penny stock pump n dump scheme or market manipulation?](https://www.reddit.com/r/wallstreetbets/comments/gi7tp7/climbing_from_5k_to_1mil_in_24_weeks_with_a/fqd8p98?utm_source=share&utm_medium=web2x) +> +>***A:*** Retard bot can't play penny stocks. Its retarded so I only gave it a list of the top 100 stocks so it wouldnt lose all my money. It also only touches high volume stuff, lower volume decreases its likelihood of buying an option. And now it’s learning spreads, which are black magic fuckery far too complicated for us austic SPY put warriors to understand. But according to some DD I read somewhere, people mirroring your spread positions doesn’t inflate the value like it can with calls (Hence the 🏳️‍🌈 ULTA guy’s gainz). Nothing Retard Bot touches will be susceptible to market manipulation even if all million of us broke 🌈🐻s join our combined wellfare checks on the same position. Furthermore: + +&#x200B; + +>**Q:** [Should I mirror Retard Bot's plays?](https://www.reddit.com/r/wallstreetbets/comments/gi7tp7/climbing_from_5k_to_1mil_in_24_weeks_with_a/fqdbuh8?utm_source=share&utm_medium=web2x) +> +>***A:*** Fuck no. This is not financial advice. Suggesting that could be considered market manipulation, which we all know is against SEC rules and more importantly WSB rules. Retard Bot is for entertainment purposes only. But in case any of you shitfucks are gonna try and mirror plays from some retarded fuckin JavaScript bot trained by WSB DD, powered by Internet Explorer, let's look at the next Q&A: + +&#x200B; + +>**Q:** [I bought your shitty crm call. What a flop](https://www.reddit.com/r/wallstreetbets/comments/gkfmp2/5k_to_1_mil_retard_bot_week_1_results_13/fqrhppv/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) +> +>***A:*** I made +65% and +91% on those shitty CRM calls monday by 3:10 EST. Bought them between 9AM-11AM. + +&#x200B; + +[The TECH call started at 0.01 that's why it's fucky](https://preview.redd.it/5wqnzh5s5iz41.png?width=250&format=png&auto=webp&s=df35e87b1612d7a3ecb4201df0fac5205e462b58) + +>In the first three weeks retard bot selected positions that unanimously held 100%+ weekly profit without selling, but *that's not what it's designed to do.* It's called Retard Bot not genius bot, it follows momentum and quality, but you bought on Tuesday when I posted and by that time the market was in free fall. **You bought calls during a market crash dipshit.** + +**!!!! EMERGENCY DD FOR TOP WSB RETARDS !!!!** + +Before you fuckshits go mirror Retard Bot's plays anyway like retard humans, some shit to consider: + +* Notice retard bot buys a bunch of diverse positions for the budget set so far ($5K)? Thats because if it's wrong about one, the rest are still likely to print. Mirroring just one position of 5-10 is a far worse risk vs reward scenario than buying all of them. +* The market is unpredictable, and a bot can perform lightning fast fail-safe sales when things go bad, with zero emotion. Our dumb asses tend to scream “diamond hands” while we watch our savings swirl their final lap around the toilet bowl. GUH +* There's not enough data yet, since its inception Retard Bot has been tested (until this upcoming monday) in a mostly bull market, there's no way 100% weekly gains last forever and there will eventually be a loss week. + +&#x200B; + +>Q: How does it work? Is there a GitHub repo? Can you share the code? I'm a developer and I'd like to work with you on this. +> +>A: Of course you would. If things stay even a tiny fraction of their current retard level, that makes it worth a shitfuckton of tendies. I'm not giving out the code. I'm not sharing my whole algorithm. But I have shared [some details on how it works](https://www.reddit.com/r/wallstreetbets/comments/gi7tp7/climbing_from_5k_to_1mil_in_24_weeks_with_a/fqd8sos/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) without giving away the secrets. **ELI5:** It looks for the best stocks based on volatility performance and uses that to conservatively form a momentum-based strike projection. **end ELI5.** For those still curious: Based on that, the current growth estimate of the option is calculated in relation to the intrensic value of the option at expiry if it follows the conservatively projected trend. A score is figured from those metrics in a machine learning based way. After a few more steps of scoring some secret sauce metrics are used to polish up those results. Neural networks are then added dynamically to find relationships between thousands of factors and the model's successful choices, sort of like post-processing. During this process millions of variations of the model exist competing for the best performance. Different models perform better in different market conditions and even in different industries. Top performing models are dynamically linked to different market conditions and even specific stocks. Based on those conditions, different models are given different portions of the cash pool to invest based on the correlation between their success and the market conditions. Once I add spreads and condors and other tools, different model categories will evolve and the best performers will be ranked market-condition dependent. I omitted enough key details that are pretty integral to the system to make sure Wallstreet big brains arent given what they need to come close to replicating what I built. I won't be making any more comments on the topic. + +If retard bot stays performing above 3% weekly, I plan to feed it till it's 🏳️‍🌈 ass 🌈s out yacht money, and I'm inviting every one of you fucktards to party on it. +The fact that even at £100,000 you would only earn £20 interest is actually rediculous. Meanwhile the bank is taking your money and lending it out to over people for anywhere between 3-20% APR, especially for the unfortunate people who are in overdrafts getting charged an extortionate 20% interest. + +Why keep your money in a bank and earn a tiny 0.02% interest when you can earn 6% interest on stable coins using crypto instead. Let alone if you stake crypto itself you can get much higher APR if you want to take on more risk. + +Take your money out of the bank and pay yourself some interest +http://pages.ebay.com/sellerinformation/growing/categorychanges/coins.html + +^ this link was shared yesterday [here](http://www.reddit.com/r/Bitcoin/comments/1ltd23/has_this_been_reported_yet_within_the_past_few/) and I saw it with my own eyes, there was a virtual currency section listed in red text. + +Now there is only one section in red, Hobo Nickels. +Its always the same story... 16 yo put $5 in some crypto and walks away with 16m in just 3hours. + +I mean...that most of us are here seeking this success, right? + +Besides the guy that bought a pizza for a lot of BTC, in general i hear succes stories + +Yes, Im also one of those guys,in for succes, small nuance however: + +Im almost 40, trading crypto for 5 years and i suck at it...im down in my investment, I alway miss the boat and buy high sell low...yes a crypto trader loser. + +How about you? Im interested in your succes/loss stories + (This is on behalf of a friend who does not have karma enough to post here) +Long time lurker here 📷 Bought pre sneeze, kept buying and very eager to DRS. +Recently I created an outbound transfer request with Saxo Bank in order to transfer my gme shares to Interactive Brokers (and then from IBKR to Computershare) + + +I have had minor issues with Saxo Bank previously but this is far beyond what I expected. A few days after my request, I receive this email: + + +“The transfer of your portfolio has been cancelled Dear (Name) We regret to inform you that your portfolio transfer to Interactive Brokers Ireland Limited has been cancelled due to the fact that we were unable to deliver the specific instruments. Best regards Saxo Bank” + + +**I am asking you for help Superstonk** I am worried about my shares What can I do to get the shares transfered? All I want is to DRS! + + +TLDR: Saxo Bank does not have my shares and are apparently not willing to transfer the lies (Synthetic shares or w/e) to IBKR. + + +Original e-mail: + +&#x200B; + +[Original mail recieved from SaxoBank representative](https://preview.redd.it/6jx5sccscag91.jpg?width=946&format=pjpg&auto=webp&s=f1cb3f36ce86cc1f4c1267de22aa26abc8b77477) + + +Just coming on to share the mind-bogglingly low valuation of Paramount (PARA). Consider the following: + +1.) Paramount possesses the fastest growing streaming offering in the market, Paramount+. + +2.) Paramount owns CBS and has the rights to broadcast most NFL games as well as Premier League Soccer. + +3.) Paramount Pictures has had a wildly successful year, including the release of Top Gun Maverick, the 5th highest grossing film of all time. + +Despite this, PARA shares are trading at an embarrassingly low valuation: + +1.) Price/earnings multiple of less than 8. + +2.) Approximately one third price/sales. + +3.) Less than half of book value. + +Paramount is definitely a company in transition, but this valuation dislocation is borderline criminal. On top of this beautiful stock sundae, you get more than 6% in dividend yield just to hold the shares while you wait for the price to normalize, and the short interest is just under 15%. Disclosure - I currently own 20 PARA LEAPs with an expiration of January 20 2024. +I feel pressured because some people who are the same age as me are doing well with their investments already. I don’t know where to start because when I ask them they always feel like they are speaking a foreign language . It appears to me that asking for investing advice is like walking through a jungle. + +Browsing the internet for answers doesn’t help tbh. There are tons of websites, videos, and articles but most of them give me more questions than answers. I’m not even sure if those are reliable. I spent a lot of time reading and watching and now it’s just all information overload. + +Hoping you could share what helped you and how you did it . +It can be daunting to buy Crypto when it seems like it's already surged, I was looking at charts back in January that had months of growth and I was so nervous I was buying the top. TBH this sub is what convinced me there was still a way to go and once I saw green I started to FOMO a bit more. + +But my point is, look at us now! Don't let anyone tell you it's "too late" to start investing in your future. At least not this early in the game. +Members of this sub suggested sponsoring a UFC fighter to help promote Bitcoin and increase awareness. I thought Joe Lauzon was perfect and many agreed. + +I happen to have met him a few times from me being in the local amateur fighting circuit, he knows my coach, refereed one of my matches etc. so I contacted him. + +Good news! He's interested in speaking further. + +Nothing is confirmed or agreed on. Just wanted to see how serious people are and get an idea about what we might be able to raise or offer him. + +Sports are a great way to spread the word about something and have been used successfully in many types of marketing. UFC is a great fit because it's a fast growing sport with athletes who are more accessible than the NFL or NBA for example. + +Please don't send any money anywhere yet - if and when we agree on something with Joe, we will do a video with the keys etc. like Andreas did for the Dorian donation. Please do NOT trust anything unless it is from Joe directly or from me and also verified by Joe. Any future announcement on this will come from this Reddit account AND will contain a public address with link to video verification or will come from Joe in a manner that leaves no question as to authenticity such as video. + + +EDIT: Thanks for the feedback -- if you say "I'm in" if there is a way to quantify that a bit more...whether you mean one millibit, 30 Bitcoin etc. it would be helpful to gauge +Europe. + +I am looking at a bunch of cars that I am interested in, and year old models are quite literally the same price, and many even 5 year old models with like 60k km's on them still retain like 80-90% of the original sale value.. which is ridiculous since so many new features get added to those cars, that the decrease in price would be unreasonably low even if the car was at 0km and top condition.... On top of that you obviously do not get to decide on the color and extras on your own, and you're taking the risk that the vehicle was neglected or badly driven.... + +It doesn't seem to make any sense.... and supply doesn't seem to be an issue here as manufacturers have been giving incentives to buy new cars (not enough demand) meaning you could for example get a CH-R cheaper new than used... + +The only time it seems to be worth it is if you want to completely circumvent new vehicles and go for pre 2009 cars. + +I heard so many people say that the car losses 20% of it's value the moment you drive out the lot... yeah... right... it doesn't seem to loose any value even after you've driven it cross Europe 5 times over the course of 2 years. + +For example, a new 2021 Korando goes for 16k, but on autoscout24, the cheapest current gen that I can see is a 2019 one, with 80 000 kilometers on it.... for 17.8k. I mean sure, the chosen options do play a part here but it's 3 years and 80k fucking kilometers, it ain't no Toyota.... guy is probably selling it because it's dying already. Besides I don't really need/want any of those options either. + +And that's the CHEAPEAST, there are offers for 27k for also 2019 models with 20k kilometers on them, even the highest spec 2021 model doesn't cost 27 fucking thousand. + +It's the same for other vehicles I looked at... Duster, Panda Cross + +Edit: I would say 6\* comments repeating the same joke is about the ideal number of joke repetitions lads :D + + + +Edit: Damn, I guess the typo paid off... Left the thread when there were 0 upvotes, didn't really expect any more comments.... Woke up to it being locked, wonder what the cat comment count is now. +Merry Christmas all! I wanted to get your advice on my current situation: + +I am a homeowner, with mortgage, employed in a fairly safe job. + +I currently owe ~£12k on a loan at 3.1% (30 months remaining, about £400 a month), and ~£3k on a credit card (0% until next year, so making minimum payments). + +I also have ~£10k savings now, at crappy interest rates (0.6% to 1.5%). + +On the one hand, this seems economically illogical - I have money earning poor interest while owing money at a higher rate. I should pay off the loan with my savings to lower my net interest payments. + +On the other hand, I like having an emergency fund for two reasons: + +1) I might lose my job- it’s unlikely but possible. At the moment I could comfortably meet my commitments for several months if that happens. + +2) I have a 12 year old car. It could die, or require expensive repairs. The car is not essential to my life but adds a lot of convenience (and if I lost my job would increase the range of potential options). + +What are your thoughts? Should I be paying off some of the loan early? Putting some money in a fund? Any suggestions welcome! + +Edit: + +Thanks for all the advice! It’s been very helpful and useful in clarifying my thinking. It’s rare for me contradict Martin Lewis (who says have no emergency fund until debts are paid) but the majority here is to go against him and I personally agree. + +Here’s what I think I’ll do and my reasoning: + +£10k is a good emergency cash fund and I’m keeping it. If I lose my job I can meet my commitments for several months while I find another one. That’s peace of mind. My credit score would be unaffected. Without it I would make a stressful situation even more stressful if I had to race against time to get a new job while persuading lenders to give me leniency and paying for food on high interest credit cards. I’m paying about £200 a year for that peace of mind/insurance. + +I don’t need more than this £10k. Any excess now should go to paying down the loan early, except that... + +£250 a month should be saved separately and earmarked specifically for paying the credit card off in full before the interest starts at the end of the year, so this doesn’t draw on the emergency fund. +So my partner is on 40k full time but drops to about 25k 3 days per week. after pension and student loan thats a touch over 1.5k. + +childcare for those three days is about 1150 so she's actually only taking home £350ish per month. +we've talked about her not working but i'm quite nervous if the leaves her job she won't get a job anywhere near the same level in a few years (with the same flexibility). +just curious as to what other couples do? +I've just come into some money after a relative died a couple of years ago (disbursement from a discretionary trust that's being wound up). The amount's roughly equivalent to my annual gross pay. + +I'd been planning to put the majority of it straight as a lump sum into my workplace pension, as it's frankly pretty poor - It's the only pension fund I have, I've been terrible at saving and only ever put the minimum amount in. + +However, is there any reason instead of paying this cash as a lump sum into the pension, I shouldn't live off the money I've already received from the trust and instead sacrifice all or most of my salary for a while straight into the scheme? Essentially paying the same amount into the pension as I would have from the inheritance, but reducing my income tax significantly by doing it this way? + +It feels like an obvious thing to do - so obvious that I feel like I've misunderstood something. I realise I can't take my salary below minimum wage through sacrifice, and I can't contribute more than £40,000 in one year to the pension without it hitting tax limits. If I stay between these limits is there any reason not to do this? And any reason my work wouldn't be keen on doing it? They have said in the past it's entirely up to us how much salary we want to sacrifice. + +Any thoughts or insights would be valued - thanks loads. +So long story short, I kind of fucked up. + +EDIT: **I'm a CONTRACTOR** + +EDIT: ** CONTRACT ENDED DEC 31ST** + +I joined a startup boutique brand as head videographer last year. + +There is a much longer story about their inability to pay me on time etc, but the main thing I'm dealing with here is the strong possibility that the company is going bankrupt. + +I was last my wages in October and I have not received anything since. + +The MD now tells me that the large investment they were expecting from one of the main investors, is no longer going to happen. + +He's now saying that, they can only pay back in installments. Considering I haven't received any sort of wage for the past three months, installments of £150 every few weeks does very little for me. + +It would probably take several months for me to receive full amount. And that's if they manage to stay afloat till then. + +I have everything on contract that we should be paid and the company does agree. + +Now, the main issue is that they seem not to have the funds OR they are prioritising who they send money to first and how much. + +I'm running low on my savings (very very low) and am currently looking for work but what can I do about this? + +I don't whether I can keep waiting hoping there's a big investment coming in or I just go the legal route ASAP. + +Really, really urgent advice needed. +Original tweet: + +[https://twitter.com/jackmallers/status/1507053436096978946?s=20&t=81jk\_vZwoWteVAC4x4tlgg](https://twitter.com/jackmallers/status/1507053436096978946?s=20&t=81jk_vZwoWteVAC4x4tlgg) + +&#x200B; + +https://preview.redd.it/77pk1idnhkp81.png?width=2960&format=png&auto=webp&s=612ee8f646e6038f6ce2559074a803590dea0876 + +Image shows Whole Foods, Starbucks, Best Buy, Target, CVS, etc. + +The tweet says the following: + +"With [\#Bitcoin](https://twitter.com/hashtag/Bitcoin?src=hashtag_click) as the monetary network, the financial system will be cheaper, faster, more innovative, and more inclusive. Two weeks ..." + +Possibly this will be announced during Bitcoin conference. +*Luke-Jr doesn't like paper wallets.* To this end, he has renamed/moved the official Bitcoin wiki for "Paper Wallet" to "Paper ECDSA private keys", making it confusing and difficult for users to learn what a paper wallet is and how to stay safe when making one. Meanwhile, he has created a brand new "Paper wallet" page in which he redefines a paper wallet as a Armory/Electrum backup of a HD wallet mnemonic seed, and says that these should not be confused with what you and I and everyone else calls a paper wallet. + +The other contribution Luke-Jr made to the original paper wallet wiki was to unlink my own service (bitcoinpaperwallet.com) from the wiki, his reasoning being, "*BitcoinPaperWallet was removed because it is a website for generating private keys*". As someone who has put a lot of energy into paper wallet education and generally helping the bitcoin community with paper wallet generation, I find this utterly baffling. + +I don't want to get involved in a revision battle here. Luke-Jr has already started that, reverting any changes I make to the wiki instantly. + +**If you have an opinion on this matter and you have bitcoin wiki editor privileges, please express it on the [discussion page](https://en.bitcoin.it/wiki/Talk:Paper_ECDSA_private_keys).** + +*Edit 1: you can also express opinions right here of course :)* + +*Edit 2: much of the discussion on this page is about whether or not paper wallets are a good idea, or if websites should be used to generate them. Can we at least agree that these pro/con arguments should appear on a wiki page called "paper wallets" so everyone can find them? If those arguments appear on a wiki page called "Paper ECDSA private keys" then nobody will see them.* + +*Edit 3: Gladoscc on the wiki has renamed "Paper ECDSA private keys" back to "Paper Wallet" as of 12:41 UTC, so you may be confused if you visit the wiki to see what all the hubbub is about -- unless his change has been reverted by the time you read this.* :) + +*Edit 4: Gladoscc's change didn't last for more than 24 hours before Luke-Jr re-reverted the changes, and then added in a confounding set of redirects in the wiki so that "Paper Wallet" redirects to "Paper wallet" which then redirects to his page on HD wallet mnemonic seeds. I cannot understand how this is supposed to help end users who want to learn what a paper wallet is (and why they're risky, and how hard it is to produce them in a safe way.)* +I'm looking some advice regarding pension, financial wise its one aspect I know the least about but now I'm looking at options and I need to decide what to do. + +I've been working at a University for the past 13 months, which does have a generous pension. However, earlier this year I had to withdraw from the pension as my contribution had to be 9%. I'm only on 21k a year and was saving for my flat deposit so it was leaving me pretty right - and this was before cost of living sky rocketed so much. + +However, the project I'm in is only temporary and contracts are extended yearly so I'm unsure if I'll be at the uni longer term just yet. + +Now I'm debating whether to opt in or go private where I can contribute less, but obviously there would be no employer contributions. + +Income - around £1500 but will be going down in April when I stop covering a higher paid position part time. +Monthly outgoing are +Mortgage - £354 +Council Tax - £102 +Water - £12.97 +Electric - Between 50 and 70 thanks to the gov scheme +Food - Around £120 for the month +Travel (bus) - £20 +Broadband £23 +Mobile £7 + +Would you opt in to the uni pension or seek private options? I'm not sure which is best to be honest so any advice would be appreciated + +UPDATE: Thank you all for the advice and the kindness considering the rather dumb decision I made regarding my pension scheme 10 months ago. Its actually much appreciated that you didn't all just jump on me. I think the best course of action is for me to opt back in. To the few to asked about my naff salary, yes I am aware its not great and I do need to move up. I left teaching 1 1/2 years ago and I've spent the last year or so getting back on my feet and mentally healthy. So I've stayed in my lower position with very supportive work team whilst I've gotten better. In the new year I'm hoping to start rebuilding my career and finally finishing learning to drive! +There are some bots on this sub that auto-post comments and, if I'm not mistaken, become part of the moon distribution. + +The Automoderator bot is not receiving Moons as far as I can tell, but the tldr bot is. I don't know if there are other bots in this sub but they might be included in the periodic Moon distribution. + +Wouldn't it be better for everyone is this and other bots were not included in the distribution? Or is it not worth the trouble for the devs to make this change? + +Edit: Reducing their % instead of removing altogether is another option. + +That's it. That's the post. + +Edit 2: The thread has been locked. So I'm editing here. I don't currently have the time to make a proposal on the meta sub. If anyone has the time, please go for it. Instead of complete removal, reduced % is better choice in my opinion. +I live in Texas, and I've been at the same apartment complex for the last 3 years. It's not the greatest, and yet not the worst. (yet) I want to move, but at the moment I'm tackling so many bills, that I can't afford to move anywhere, because somehow everywhere else is more expensive in a 20 mi radius, and I have a kid, who I share custody with. So please don't tell me I should move. Believe me, I want to, I just can't realistically afford it right now without screwing myself over at this time. + +After some confusion with the lease renewal, (they tried out a new software that was glitchy) I signed on for another 12 months. My original lease ends on the 20th, and the new one begins on the 21st. So 20 days of old rent price, and 10 days of new rent price. Well I went to pay my rent online on the evening of the 1st, and noticed it was well off, even with the rent increase. Like by about $145 (almost my electric bill) No biggie, I thought, I'll hop by the leasing office tomorrow and get it sorted out. The next day (Friday Sept 2nd) I stop by around 3pm by the leasing office to complain. Unfortunately anyone with authority to settle the dispute has already left for the day, despite the office closing at 5:30 pm. The staff that is still there takes down my complaint, and says someone should reach out to me later (but they couldn't say when) About 4:30 I get an automated email saying the office will be closed for the weekend, and resume Tuesday, after the holiday. + +I come back Tuesday afternoon, and get them to confirm they overcharged me. They had expected to credit me back for the upcoming month, but I asked them to cut me a check for the amount. They said they couldn't do that, because it had to get approved from corporate, and if it got approved, it would take about 45 days. Normally I wouldn't mind the credit, if the amount was under $50. But l feel that $145 is a significant amount to overcharge, and I could put the money to bills I have to pay this month. I feel like I'm giving them a 30 day interest free loan for $145 without having a choice in the matter. This wouldn't have been a problem (that they created) if they had been appropriately staffed on Friday. + +Am I stuck? Is this a common thing that renters have to put up with? Is there any government agency to report this to? +[Dropping to 0.3%](https://monzo.com/features/savings/?vero_conv=uD5pWNYXcK3bWNproM44OySC2_Ddk6gr7zFBK05IDnXu11qtOsQ_sPvsVjLjjacVOgh_3O13z6zMJ1OQIhY6sSilsp6u22NK) + +I can’t seem to find any worthwhile easy access savings accounts. Any suggestions? +I’m going to go back a little bit in time and tell you how CLOV was directly related to GME squeeze. +So when GME was squeezing two very influential people have backed the squeeze and caused it to squeeze even more. Those two people were Elon Musk and Chamath Palihapitiya. Both partners in previous endeavors and friends. +GME squeeze hurt short seller Hindenburg so much that they have lost 40% of their account that week. +CLOV is backed by Chamath Palihapitiya. Hindenburg, in order to retaliate at Chamath for causing them huge losses, published a short seller report for CLOV few days after Chamath tweeted about GME. Short seller report had very little base, yet that caused the stock to drop and also SEC had to initiate an investigation due to the claims. +Since then stock got beaten down to less than IPO prices. What does that mean? It means that it was moved not so much by true owners of the stock, but mostly by short sellers. That will play in nicely in the squeeze because short sellers always have to close out, but if stock is still held by their true purchasers it means that there are even less shares available for active trading. + + + +Enough of history. Retail following: + +Since GME endeavor Chamath PAlihapitiya joined the club of “retail gods”.... he is one of the poster babies for retail movement on hurting short sellers. His previous partnerships with Elon Musk furthers retail following so now not only we have GME crowd supporting Chamath, but also Tesla crowd. Both of those stocks were some of the most successful trades in history. + + + +Friday’s Hindenburg’s fright with CLOV: + +On Friday CLOV has opened with 148% short interest and after this was noticed by retail the squeeze has started. The volume topped 250M shares traded (10x average daily volume and 5x its previous heaviest volume day). (Ill get in to more technicals later, but needed to mention this to push the narrative). +Hindenburg saw the action and protecting their possible short position tweeted that FactSet has misleading short interest data about CLOV not including CEOs clad B shares in the float. +FactSet came back to Hindenburg’s allegations with a reply that CEOs type B shares are classified as not tradable and are not included in the float. And once again confirmed that stock is 148% short. +This further angered retail traders and a lot of chatter online has started how Hindenburg is trying to manipulate this stock with lies and deceit. +A lot of people didn’t catch on on Friday but through the night and this afternoon Reddit and stock twits seem to have exploded about it, videos are popping up on YouTube. A lot of traction is being created over the weekend for a sweet Monday open. + + + +Technicals: +*CLOV free float is 109mil +*CLOV shares outstanding are 406mil +*78% of CLOV shares are owed by insiders and are still locked up. Insiders are only allowed to sell if stock hits $30 and stays above $30 for 90 days +*institutional ownership of CLOV is at 48% + +*the volume on Friday was 249mil shares which only represents 61% turn over for shares outstanding, but if you take locked up shares out of consideration, true turn over was actually 228%, meaning every share available to trade was bought and sold at least twice on Friday. + +A lot of people that bought on Friday (including NEXT financial group that bought 21,400 shares) will not likely be actively trading this week meaning available shares short term will continue on decreasing. + +In my speculation out of 109 mil free float Only around 35% of shares will be available to trade this week. Here is how I got to this number: +-institutions owe 48% of stock and they are not likely to trade short term fluctuations, but giving it a benefit of doubt let’s say that institutions that will hold account only to 30% of float. Now we only have 70% of float left to trade.... +-let’s assume that investors that owe CLOV long term account for 20% of the float. A lot of them don’t check stocks daily or sometimes even weekly. Let’s assume that half of them even won’t notice what is happening this week. At this point we only have 50% of float left to trade. +-the rest of the free float is being traded by scalpers/ day traders, swing traders and “diamond handers”. This is a very educated group and unless scalping or pattern trading will understand that we are in the middle of the squeeze and hold. I believe this group will contribute to another 15% of float being unavailable, assuming half of them will be trading fluctuations and half holding. +So my conclusion is: only 35% of available shares will be circulating next week being sold and bought over and over again. That’s only 38mil shares not being stuck in someone’s account semi permanently. Some more liquidity will be provided short term by other shorters flocking in, but I won’t take them in consideration because they too have to close out at some point. + +Fallowing all this speculative, yet very carefully vetted math let’s calculate the demand for the shares, just to close short positions +-148% of the free float is shorted, meaning 161mil shares will be in demand just to close out short positions. Since we already established that there will be only 38mil shares freely circulating in the market each short share will only have 0.24 shares. So looks like there are 4 times less shares than demand to close short positions! Throw in some buying activity to that math and you have a number closer to 10:1. + +Following all of that the question is how far the stock can go during this particular squeeze? Well the answer is: it’s mathematically impossible to calculate. Although there are some indicators of what people can expect. Smaller the float, the bigger the short interest and the heavier the volume the further it can go. In this particular instance we have the combination of all three factors. Even if it’s impossible to predict exactly what price short squeeze will hit, it’s possible to trade short squeeze well using technical indicators and trade management. Monitoring volume, daily short interest and days to cover should be adequate. To know when short squeeze is ending I monitor same indicators that made me spot the short squeeze to start with, but in reverse. Meaning volume will start to tapper off, short percentage decrease and the upwards momentum will start to whilt. I also watch out for extremely sudden, needle like falls (trailing stop loss domino effect). + +I hope the read was interesting and I haven’t lost you half way through. + +I won’t go into any CLOV fundamentals or any of that good stuff cause I think we already established that everything is in order there. It is also completely irrelevant in a mathematical squeeze. +I recently received a dollar in my account for no reason from someone I don't know. I figured it was a scam, but I can't work out what the scam is. Now they're disputing with PayPal saying I sold them something on Facebook marketplace, and that I haven't sent anything and the ad has been deleted - all a bogus story, but I still can't figure out what the scam is. I really don't care about just refunding the dollar, but does this line me up for other issues? I'd prefer to just advise all this to PayPal, but it seems near impossible to talk to an actual person and get them to look at anything these days. +That's what I'm doing, at least. + +Just develop the hobby of googling a plain "bitcoin" to be updated about its current news. I enjoy reading the bullshit section of economy in WSJ. I basically believe the opposite of anything they're saying. Like a recent article claiming full recovery at the the end of 2020. What kind of a vaccine that is so powerful to end a worldwide crisis in 3 months. + +Anyways, for online security I suggest: + +\- [Yubikey](https://www.yubico.com/product/security-key-nfc-by-yubico) with Binance and Google accounts. (Both support U2F, physical touch to log in, users have never been phished) + +\- [Trezor](https://shop.trezor.io/product/trezor-one-white) one for Bitcoin storage + +\- [ColdTi](https://www.amazon.com/ColdTi-Cryptocurrency-Storage-Anti-Tamper-Unbranded/dp/B07PYQJ1N9?th=1) for Titanium-engraved recovery phrase storage + +All three cost $99. It's the optimal security to date. Protect you from both digital theft and environmental crises. + +Note: Be careful what **chrome extensions** you install. Some replace your clipboard and people have reported sending funds to the wrong address. +My home was just recently refinanced at $215,000, worth about that amount. I recently had an unofficial offer for my home for $300,000 (“where we can ‘start’ negotiations”) from my “neighbor”, a rundown gas station in rural Colorado. He’s looking to sell his base gas station and my neighboring 1/3 acre as a truck stop, which would be the only one in about 90 miles. Were I to sell my property for almost $100K more than it’s worth on the market, am I looking at paying half of it in taxes as income? I currently earn about $65K/year - I don’t want to have to give up $50K in taxes because I earned an extra $100K this year. How can I anticipate how much of my “profit” I’ll have to give to Uncle Sam? + +Edit: ok, so my gains would be approximately $85,000-$90,000, which is less than the $250,000 required before it is taxed. Thank you all for the quick responses, I was worried any advancement I could provide for my family would be swallowed whole by Uncle Sam. +How does the saying start: first they ignore you, then they laugh at you. Looks like Wall Street is done ignoring and laughing. They may even skip the fight and join in! +How does the saying start: first they ignore you, then they laugh at you. Looks like Wall Street is done ignoring and laughing. They may even skip the fight and join in! +Hey, I was just wanting to make a quick post. So lately I've been feeling stress, pain, anxiety and so forth towards my current life right now. I have been working at a a Gas Station for over a year now and it's been rough. So many people out here in California are poor and I can't help put fear I'll have no future out here at all. I live in a somewhat toxic household with poor and dysfunctional family members, which adds to the suffering. + + +I plan to go to the army for active duty and am shipping out this month since tension is rising, I'm paying over $100 for my poor mother who has four children from different guys and am constantly looked at as a burden as the oldest even though I've been trying to get my shit together. + + +It was mainly a friend of my mother who had the idea I should go to the military to *"TrAvEl"* but to also get out of the house and explore the world and gain *"InDePeNdEnCe"* when in reality I am well are it's because I'm poor, have no future here and my mother is slowly increasing my rent to live with her while claiming she'll have to kick me out and I'm only 21 by the way which makes it even more confusing. + + +I know the army for active duty is said to be tough, but I practically have no choice since it is the only way I'll be able to do stuff for free, make some money and I have plans for myself that involves leaving the U.S and settling elsewhere for good and completely forgetting the shitty life I had to endure here during most of my childhood. It may not be much, but my contract is listed at 4 years and about 4 years, so hopefully this is able to somewhat improve my life. + + + +I also consider myself a left-leaning libertarian and I am well aware that the U.S military is a right-wing, ultra-authoritarian, hyper-yelling shithole that demands full conformity, authority and controlling tendencies. It honestly sucks that most people I've seen enroll in the military is due to their poor background and while I am an introvert that doesn't really like people, I hope some of these unfortunate individuals make it out okay. + + + +If any of you have been in the military and have any advice and suggestions, I am absolutely all ears and discussions. + + + +Thanks for reading! :) +I have been very focused on OMG for a while now and jotting down the interesting bits in wordpad whenever I read an article, listened to a podcast, watched talks/meetups and found something worth noting. I managed to clean it up a bit and format it for reddit the best I could after getting all the new information from the Town Hall Q&A last night. As talking about each point would make this 30 times longer to go through I tried to simplify it but there is much more information on OMG than just this and if you haven't looked into it yet I think you should. + +&nbsp; + +**Omise/Omisego origins and involvement in Plasma Development** + +* Omise is a payment processing company started in 2013 and is now making the move to the blockchain +* Omise's entire existing userbase will be supported by Omisego +* Omise has over 50,000 merchants and over 420 million customers (some seen [here](https://cdn-images-1.medium.com/max/800/1*PrEWZ_puEiTQ-us_Fmh-sg.png)) +* Featured on cover of Forbes Thailand in October 2016 as ["Fintech Rockstars"](https://cdn-images-1.medium.com/max/800/1*iFF3cxSut7WT3ZdZQtrSIA.jpeg) +* Omise [awarded](https://www.omise.co/omise-awarded-digital-startup-of-the-year) the Digital startup of the year award in 2017 by Thailands Prime Minister +* Thailand ministry of finance [intergrated](https://twitter.com/JUN_Omise/status/898496682089783296) Omise Facepay technology +* Blockchain lab created in 2015 +* Involved in Plasma development before its public announcement +* Merchant volume of over [$30 Billion](https://np.reddit.com/r/OMGTraders/comments/71qcfy/analysis_of_the_merchants_of_omise/) from only what we know about +* First to run Plasma and will provide scaleability to Ethereum +* Wallet/SDK is open source and white label allowing any business or financial entity to use the network without a formal partnership (Anyone from a local bakery to Paypal and Visa could use the network simultaneously) +* Staking rewards for validating transactions paid out in your choice of coin *May be limited choices +* Dex that will provide crosschain transfers to any coins and provide cash in/out services +* Currently working with many people on the development of plasma/omg including Joseph Poon, Vitalik, David Knott (Now an OMG Dev), Karl Floersch and more +* Plasma to allow 1 million TPS from the start and theoretically scale to billions +* Wallet SDK release in Q1 +* Wallet and staking release in Q2 with "conglomerate" integration within a month of release +* DEX TBA (See town hall info below) + +&nbsp; + +**Advisors** + +* Thomas Greco (Special Advisor) **Advisor to the Interchain Foundation developing Cosmos Network, the Web3 Foundation developing Polkadot, and has previously served as an advisor to the Ethereum Foundation.** + +* Vitalik Buterin (Proof-of-Stake Research: Scalability, Safety, Privacy and also Involved in development of Plasma) **Founder of Ethereum** + +* Joseph Poon (OmiseGO Principal Author and also Involved in development of Plasma) **Lightning Network Co-Author** + +* Karl Floersch (Proof-of-Stake Research: Cryptoeconomics, AI Ethics, Implementation and also Involved in development of Plasma) **Casper (Ethereum) Researcher** + +* Roger Ver (Decentralization Advisor, Human Rights Advocate) **CEO of bitcoin.com, First Major Backer of Earliest Crypto Startups** + +* Dr. Gavin Woods (Consensus Technology Research, Development and Utilization) **Co-Founder of Ethereum, Founder of Parity & Polkadot** + +* Jae Kwon (Proof-of-Stake Research - BFT Consensus, Speed, Interoperability) **Creator of Tendermint, and Cosmos Network** + +* Vlad Zamfir (Proof-of-Stake Research: Economic Security, Consensus Protocols, Correct-by-Construction Protocols) **Casper (Ethereum) Research Lead** + +* Martin Becze (Scalability research: eWASM, VM’s, microkernels) **eWASM (Ethereum Web Assembly) creator** + +* Julian Zawistowski (Decentralised Economics Enthusiast) **Founder of Golem** + +* Ayako Miyaguchi (Regulatory Relations, Financial Inclusion, Crypto Social Impact) **Former MD Kraken Japan, Founder of Japan Blockchain Association, Board member of Japan Fintech Association** + +* Pandia Jiang (Community Relations, Crypto-Business Advisor) **Founder of LinkTime** + +* Ash Han (Distributed Economy, A combination of Crypto, Finance, and Technology) **CEO of Finector, Co-founder of Cosmos, Angel Backer and Blockchain Evangelist** + +* Prof. David Lee Kuo Chuen (Financial Inclusion, Microfinance) **Professor of Quantitative Finance, Singapore University of Social Sciences** + +&nbsp; + +**Lots of ties to big players in the financial and business industry since Omise started years back but for Omisego specfically it would be including but not limited to investments and partnerships from** + +* MUFG Mitsubishi United Financial Group (2.4 trillion in total assets and invested into Omisego under subsidary Krungsri aka Bank of Ayudhya) +* [True Money](https://twitter.com/JUN_Omise/status/917556490189266945) (processes >4 billion usd across 6 countries) +* SBMC (2nd largest bank in Japan) +* [Credit Saison](https://twitter.com/JUN_Omise/status/922720544121692165) (Third largest credit card company in Japan) +* Ascend Capital (owns AliPay) +* McDonalds [Thailand](https://twitter.com/jun_omise/status/902844287557148673?lang=en) +* SBI Holdings +* SMDV +* [Toppan Printing](https://twitter.com/jun_omise/status/922652439576174593?lang=en) +* Golden Gate Ventures +* East Ventures +* 500 Startups +* More unknown partnerships due to NDA's +* Have met with [Greylock](https://www.greylock.com/greylock-companies/) (owners of Coinbase and more, more information currently undisclosed) *No official word of partnership +* Jun has stated on [twitter](https://twitter.com/JUN_Omise/status/918355265124102144) they are ~"Building relations / connecting 15 different financial institutions across 4 regions and more than 1000+ dev contributors involved" + +&nbsp; + +**More recent information from the "Town Hall Q&A 0x1" hosted Jan 30th on YouTube** + +* Sdk open beta end of February +* Talking with banks, merchants, hardware partners under NDA (Also mentioned in crowdsale [document](https://i.imgur.com/HLhW2xW.png)) +* Vitalik, Joseph Poon, David Knott, Karl Floersch completed MVP (minimum viable plasma) during a short retreat late last year +* DEX internal release milestone completed with blockchain running +* DEX design complete starting to build on blockchain +* Next milestone is internal testnet deploying nodes and connecting Plasma/omg nodes to ETH testnet +* Plasma possible "much earlier" than first expected (most likely due to MVP breakthroughs) +* Plasma final revision will be the same framework as MVP with additional features added as time goes on +* SDK and Licensing open source under Apache 2.0 no fees to start building on the Omisego/plasma network +* Working with strategic partners to issue FIAT backed tokens and cash in/out points(atms?). +* Website redesign coming with an added community hub +* Transactions nearly instantaneous on plasma, block time yet to be determined +* Staking will be open and fair to everyone, they are taking measures against whales controlling the network +* Omisego Advisor Ayako Miyaguchi will be the Executive Director at the Ethereum Foundation effective Feb. 1st +Lets get this out of the way, don't tell me not to time the market. I've heard it before, it's tired. It may be true, but i want other answers given this unique situation were in. Please be thoughtful. + +I have a bunch of cash sitting on the sidelines. Fortunately, I saw the writing on the wall and with a bit of luck I HAVE been able to time my entry by avoiding 2022. That being said, I want to invest for the long term, as I feel Ive fallen behind for someone my age (36) + +Im a freelancer and I have a SEP that I will def be maxing out in Q1 2022, per my accountants advice. I will most likely putting it all in VTI. But I'll have 80 to 75% of my cash still on the sides waiting for direction. + +I'm a full believer that we continue down Q1 and perhaps Q2, only pausing our rate increases and potentially reversing by late 2023. I feel more pain is coming so I want to hold off investing just yet. + +That being said, is it better to divide the total amount of my cash and DCA in every week for the rest of the year, maybe starting at the end of Jan? Or should I lump sum it when I feel the timing is right? + +I also plan to invest this money into VTI. I just feel its the best way to take advantage of the market down as a whole + +Another thought process I have is.....as a freelancer, if I ever need to access that money for whatever emergency reason ( yes i also have emergency savings), that maybe I shouldnt tie it all up at once? + +Please let me know your thoughts, thanks so much. If you also have any advice about what sectors you like going into this year, for the long term, Id love to know as well + + +# - GME is unshortable at IBKR: compare it with tesla, for exmpl. + +# - 57,025,475 votes (for + against + Abstentions ): do the math, page 3 + +# - 8-k filling released at the same time that RC tweets "Power to the player". +I’ve saved up 100k USD in the period 2009-12 playing online poker. Is it a mistake to let this money continue sitting in my bank since 2012? + +I am currently renting a 1 BR apt since 2013 for around $1k/month as well, should I get some advice on buying something from that money? I have zero knowledge about investing or real estate. +Seeing as Tesla is dropping as bad news is coming out about Twitter, do you think this is this just a coincidence or do you think Tesla's valuation will be tied to the fate of Twitter? It's still ambiguous how Twitter will function at Musk's helm, but the market is reactionary and could be assuming the worst. +So today all of a sudden Nokia reaches every reddit front page, even multiple posts. What makes me even more suspicious is the amount of awards they got, we know how rare they are here, but every Nokia post here got them and even got mostly the same. + +It is really scarry, I think hedges realised the amount of money floating around these subs and now want to take it from us or just benefit from it. Look at the Nokia Chart, went parabolic last friday with high volume. The accounts of the posters also look super suspicious. + +Maybe this is testing the water for them and the worst is yet to come, but this is a good reminder to never trust someone blindly. I hope mods can do something about it. + + +Edit: Thanks for the awards (am I suspicous now? :D) + +I did not want to say that Nokia has to be a bad investment, just that this pump was very suspicious. If you want to buy Nokia listen to some counter points in the comments and compare them to other 5G players like Ericsson. +How the Top 1% Keeps Getting Richer https://www.bloomberg.com/view/articles/2017-08-28/how-the-top-1-keeps-getting-richer + +An article from earlier this year, but a reminder that betting on human ingenuity does tend to outperform betting on land. +Futures for indexes starts at 6pm sunday. Since indexes like S&P500 are made up of stocks, which are closed with no future market, how is the value determined? + +When the pre market opens monday, how is +/‐ of the futures split between the underlying stocks? + +Apologize in advance if I am not using correct terms. +That's right! NOTHING. + +SSR means the stock can only be shorted on an uptick. But these silly rules don't matter for these hedge funds. + +I know people are probably tired of hearing this, but: + +The only way to win the game is to: + +BUY +HOLD +DRS + +Especially the DRS part. If you haven't yet, please consider DRS'ing. MOASS is most likely to happen when (most of) the float is LOCKED! +That's it. That's all. I just think it's too risky. Not for your butthole of course, but rather the psychological well being of the rest of us apes never being able to unsee it if it happens. + +Also worth noting how oddly appropriate the flair of "shitpost" is for this... + +&#x200B; + +EDIT #1: To those apes that have given me awards and updoots, thank you! You apes here are truly the best! +Hello, + +My parents are moving so my mother is selling a large quantity of things from their house on Facebook Marketplace. She apparently sold a treadmill and 2 sets of furniture to a person who decided to send a moving company to pick all of it up. The total cost of everything was $900 but the person sent a check for $5300. They told my parents to pay the moving company the $4400 in a money order. A money order, really? This is all super sketchy to me and screams of some sort of overpayment scam. I just moved my life cross country and it cost me $1300. $4400? + +What is confusing to me is that the person sent a certified bank check apparently (of which my parents have already put into their bank I just found out). The funds havent cleared yet but if the funds do clear do they just continue the weird transaction? + +So many red flags on this, but I can't figure out how this scam works if they have the funds deposited. Clarification from you smarties would be amazing so I can point them to the best course of action here. +Here's the situation. I'm selling a house (I'm a small landlord and got burned by eviction moratorium so as my property rights clearly don't exist any more, I'm selling my properties and just getting BTC, because fuck this federal govt and central bank), and I got a contract on the thing, but it doesn't close until Jan 20th....which means I don't get the $ until then. And I don't owe anything on this one, so I'm going to just put the whole thing (pretty much) into BTC. But...the price keeps notching up on me!!! + +Should I go get a loan on the thing, a bridge loan to be settled at close, pay a few points, just to lock in BTC at current prices? Because I really do want to be a multi-coiner, and it would be so disappointing if the price really rocketed here.... +Is it possible to have TOO MUCH of ones net worth tied up in a 401k account? I know people who have been contributing the max each year (and not managing to save much else for their taxable accounts) who have 70-80% of their net worth tied up in a 401k. Then they can't even put 20% down on a house purchase because they don't want to pay penalties to take that money out of their retirement account. To me, there seems to be some risks with this. + +1) What if something comes up and you need the cash? Early withdrawal is a 10% penalty in addition to taxes. + +2) What if taxes are higher when you retire? in 1983 the tax rate for income exceeding $34,100 (~80k in todays dollars) was 40%. Historically speaking, our taxes are low right now, especially compared to european countries. What happens if taxes take a turn significantly higher? + +Because of this it seems like a roth is more advantageous. I would be very nervous having a large chunk of my net worth tied up in a 401k + +Probably not a popular sentiment here but I'm trying to bring some rationality to the conversation. In the past year, the M2 money supply (which isn't even really quite all the USD there is) has gone from just under [$18T to just over $20T](https://www.federalreserve.gov/releases/h6/current/default.htm). $2.3T has been "printed" in the past 12 months. It's a 12.8% increase. + +But around 8M new Eth are created each year. There was a supply of about 108M a year ago. That's a 7.4% increase but that remains pretty constant when the USD rate is typically far lower than what it has been the past ~1.5 years. Typically it takes [over 10 years](https://fred.stlouisfed.org/series/M2) for the M2 money supply to double, which is about the same as what Eth is on track for. And the total supply for Eth is not capped like bitcoin, meaning that Eth could do what the Fed did at some point if the system demanded it. + +This isn't a pro-USD or anti-crypto argument. I'm just trying to bring some context to the arguments often presented here. The supply of USD is not wildly out of control. It's still in line with the US GDP. There was a significant increase in the money supply due to a one-time deadly pandemic which kind of halted the entire economy. The sky isn't actually falling for fiat. + +I just don't want people throwing their entire life savings into crypto because of what is essentially a lot of anti-fiat misinfo being thrown around here and not really being fact checked. The US government has a very large interest in keeping the value of the dollar stable, and isn't going to let hyperinflation ruin the economy. The USD Is inflationary on purpose, but they have a fairly decent grasp on the rate of inflation. Eth is also inflationary, as are many cryptos. And **most importantly, the crypto space in general is actually experiencing a massive amount of inflation due to all the new coins being introduced.** The value of Eth and Btc is constantly being diluted by hard forks and new coins being introduced. So just be aware of your assumptions. + +Be careful and considerate about what you believe, and the one-sided arguments people share on a subreddit biased towards crypto. Crypto isn't necessarily going to outperform other currencies or securities for the rest of time. Bitcoin may or may not be a good inflation hedge, due to being deflationary. But it's even more dependent on market psychology. Ethereum is fantastic technology but that doesn't necessarily mean that its market cap is going to go up by 50% every year, or even that the market cap will keep up with the number of new coins being mined each year. And the number of new coins may drop off or it may increase - it isn't set in stone like bitcoin, and even if it were there is a constant supply of new cryptos being introduced that in practical terms also dilute the value to some degree. + +Stay rational, don't bet the entire farm on crypto. +not considering buying puts though, + +Is there anything you can buy to take advantage and make this an opportunity? + +&#x200B; + +Is piling up cash the best option?? (not that I have anything to pile up +I bought more this AM. To average a little under .94 + +Hold $1.50, $2, $5, $10? + +I’m just surprised there is not a mega thread foe BNGO on here, hence the purpose of this post. + +I bought bc hot sector (genetics+healthcare+testing), result rumors, and institutional investment rumors. + +I think it could be the next solo/uavs, maybe even workhorse. + +What you think? no spam shit... post positions if ya want, and if you are going to hype a stock (that is not BNGO) , at least make it entertaining or an intelligent effort. + + +Obligatory 🚀 + +Update 12/30 12:50EST: this seems to be working out well. $5 or bust? $10 or bust? 🚀 +Link: https://www.wsj.com/articles/silicon-valley-vs-wall-street-can-the-new-long-term-stock-exchange-disrupt-capitalism-1508151600 + +tl;dr: "Silicon Valley’s high-tech denizens complain the public stock markets are marred by a narrow focus on short-term earnings and profits, now they are doing something about it. Its key feature: a system in which the voting power of shares increases the longer investors own them. Firms listed on the exchange would need to use such a structure, often called 'tenure voting,' while abiding by numerous other rules, such as a ban on tying executive pay to the company’s short-term financial performance." + +Thoughts? + + +Before this saga is over, you will hear public figures on "the other side" quote Marx, Lenin, Stalin, I can feel it in the air. + +What made me realize this was the news of NYSE implementing a new rule that allows them to settle their shorts with last day's price in case of a short squeeze (summarized in retard, hope I got the gist of it). + +It just clicked for me. +These guys have been preaching capitalism, supply and demand, Friedman etc. since the end of the 2nd world war. Hell there was almost a nuclear global war around the irreconcilable differences between capitalist and communist ideologies and forms of state. In a sense this is still a juicy topic in today's world (China)... + +And what we see in front of our eyes, is these same "champions" of capitalism, of letting the markets regulate themselves, letting supply and demand dictate price discovery etc. etc. starting to preach communist ideologies to us like "muh liquidity" and "in this event we would have to act the polar opposite of capitalist ideology in order to preserve the "higher order" and avoid total collapse". + +Mark my words, they will sound, act and smell like fully fledged communists before all this is over. +The irony is palpable. +My parents are abusive and they talk of setting up an arranged/forced marriage for me soon. They financially control me so I have no access to a job or credit card. + +I'm a US citizen that's stuck in a third world country. Is there any way I can take out a student loan while I am here to cover living expenses for when/if I arrive in the US? +I see now why so many people have a negative reaction to bitcoin evangelists. You guys are ruthlessly optimistic about something I see no value in. This in turn has taught me some about how to keep the same from happening to bitcoin. + +I used to be ambivalent about dogecoin; it's funny, light hearted and cheap. There is no appreciable benefit from dogecoin compared to bitcoin and therefore no tangible reason for anyone to use dogecoin over bitcoin, but to each his own, or so I thought. + +But now, after multiple discussions with the fanatics and the post bombs, I'm beginning to actively dislike dogecoin. I'm beginning to be a little disgruntled at the mere mention of dogecoin. This has made me realize, *bitcoin evangelists do the exact same thing to outsiders*. + +What bitcoin really needs to succeed is for people to step back and let it take its course. Quietly shop at stores that accept bitcoin over stores that don't, even if its a little more expensive. Inquire if someone takes bitcoin, but don't try to pressure them into it. Accosting people that don't want to use it creates a blowback effect. Getting angry with people who disagree with you over it does not create any forward progress. + +So dogebags of the world, thank you for showing me what bitcoin has been doing wrong. + + + There's many little gems in here that will jack your guys's tits because after a year have come true! Of course that's the case because DFV is a time traveler but if you look At 0:30 there's the phone (supposed to be GameStop's phone) with the names edited and look whose name is on the right column, 3rd down... + +Also, DRS your shares and tell your friends and family. + +https://youtu.be/cIoajswdMTk +http://www.independent.co.uk/news/world/europe/eu-threaten-trump-trade-goods-us-retalliation-countermeasures-tarrifs-a8235566.html + +So trade war with China and the EU +Hedgies know stocks will get halted with quick movement. I believe the purposefully let the price spike, and maybe even forced that action (I only believe they could have forced it themselves because the halt was off of ***EXTREMELY*** low volume, almost like they put the orders in to ladder it up quickly themselves). + +They wanted to judge retails reaction to a potential squeeze. They wanted to see how many bought options, how many fomo'd in, how many decided to sell after a 10% gain. All this data is literally $$ to them if/when they actually let it rip. Maybe even the "stock will go parabolic at 30" was their way to try to create a fake frenzy as well, create a "worst case scenario" while they still have control. + +That's why I'm continuing to ignore all the noise and accumulate and DRS. It's the only thing in my power that hedgies can't control. + +TLDRS; The halt was orchestrated to give them data for the worst case scenario, and so they can come up with a battle plan. +A few days ago, a hacker got my mnemonic and stole $1,200 in ethereum from my Metamask wallet in under 100 seconds. The hackers were using a bot to scan for the mnemonic phrases across GitHub, and I accidentally left it in my code on a GitHub repo while I was sending to a Hack Money hack-at-hon. Although there are some coins and tokens left, the bot will siphon any ethereum I have to prevent me from moving my coins, and/or outmatch my attempts by supplying more gas. + +I just want you all to be aware to NEVER have a digital copy of your mnemonic or private key . Especially not online. + +If you are using metamask, randomly generate private keys for new accounts not associated with any mnemonics, and imported onto metamask + + web3.eth.createAccount() + +My compromised address: [https://etherscan.io/address/0x1b3e1786c3f8524ca0f3175b0b37bcc1bee5a6d5](https://etherscan.io/address/0x1b3e1786c3f8524ca0f3175b0b37bcc1bee5a6d5) + +There is still $600 supposedly that's locked in Compound DeFi protocol and if anyone is interested in helping solve this, here is a suggestion someone made for me who we are seeking ways to solve this: + +[https://ethereum.stackexchange.com/questions/83718/how-to-retrieve-erc20-from-a-hacked-address-monitored-by-a-bot](https://ethereum.stackexchange.com/questions/83718/how-to-retrieve-erc20-from-a-hacked-address-monitored-by-a-bot) + +I was foolish and this mistake was costly, but I know how to be extra secure when dealing in crypto. I was very upset and scared at first, but I can't dwell on it and I'll move on. No need to stress over thousands when I can focus on making millions. +I’ve posted the Benzinga Article below. I definitely feel like it’s something this sub (especially Nio mooners🚀) could benefit from seeing and discussing. I swear, it’s a 2 minute read: + +———————————— +Two years after Citron Research editor and notorious short seller Andrew Left made a bold bullish call on Nio Inc - ADR (NYSE: NIO), Left said Friday it’s finally time for investors to cash out of the red-hot EV stock. + +Back in November 2018, Left compared Nio to Tesla Inc (NASDAQ: TSLA) when Nio was trading at around $7 per share. Today, Nio shares are trading at $53. *($46.70 at the time of this Reddit post)* + +“After a rocky road of trading, NIO has found itself in unchartered territory that can never be justified by its current standing in the China EV market or its near-term prospects,” Left wrote Friday. + +2 Vulnerabilities: Left said Nio has two major vulnerabilities in the near-term. + +Tesla’s Model Y price cuts will apply significant pressure to sales of Nio’s ES6 hatchback model. Last month, Tesla sold nearly twice the number of vehicles in China that Nio sold, and Left is expecting China’s EV market to continue to be an intensely competitive pricing environment. + +Left is not a fan of Nio’s share structure. + +“While we commend Baillie Gifford (love those people) and early investors, right now we are looking at a share structure and an investor base that is more interested in spinning a casino wheel,” said Left. He also noted Nio's short interest is approaching a two-year low. + +What Nio Investors Are Buying: Left said investors buying Nio today should understand what they are getting into. + +“Anyone buying NIO stock now is not buying a company or its prospects, rather you are buying 3 letters that move on a screen,” he wrote. + +Left said there are better ways to play the China EV story: “It is time for investors to rotate out of NIO, enjoy your profits and look for the next disruptive technology.” + +Left's new price target for Nio is $25, suggesting more than 50% downside. + +Benzinga’s Take: There’s no question the Chinese EV market will be a major growth story for years to come. But Nio’s market cap has now surpassed Daimler’s despite the fact that Nio sells roughly 5,000 vehicles per month and Daimler sells about 1 million vehicles per month. +———————————————————— + +*Thoughts?* + + + +Edit: For those asking “WTF is Citron?” Below is what I skimmed from his Wikipedia, but there is a whole ass section about his reports on Chinese companies and what Chinese companies and leaders have taken legal action against him. He’s already banned from trading in Hong Kong for 5 years because of his report on a HK real estate company being insolvent. +———————————— + +Left initially started StockLemon.com in 2001 as a self-published blog containing reports on controversial companies. He rebranded the site as Citron Research in 2007.Left researches and short sells companies he believes to be engaged in fraud, have been suspiciously promoted, or have been mistakenly overpriced by the stock market. + +According to a Wall Street Journal analysis of 111 Citron short-sale reports spanning from 2001 to 2014, there was an average share-price decline of 42 percent in the year after Left's report was released. Of those shares, 90 were lower one year later while 21 gained, according to data from S&amp;P Capital IQ. + +Citron Research has published reports on 18 Chinese companies, 16 of which experienced a drop in stock prices, with 15 of them experiencing drops of over 70%.[38] This has caused a collective of Chinese business leaders, including Qihoo 360 CEO Zhou Hongyi (a company that has been targeted by Left), to launch a site called CitronFraud.com (no longer operating).[39] Left sent a legal notice to the 60 Chinese executives involved, seeking an apology, and told Tech In Asia that he is consulting with lawyers and considering legal action in response.[40] +I am becoming more and more interested in economics, but it is difficult to find anything that is not specifically oriented towards our most recent economic turmoil. Can anyone recommend a good read that will get me on my way to understanding economic theory? Thanks for your recommendations! + +*edit - Wow, so many responses! I'll take a stab at one or two of these. Thanks to you all for your advice. +Welcome to the open discussion thread. + +This space is reserved for open discussion or questions on research and news on economics. + +Talk about economics among yourselves. + +Hey everyone, + +The new [Journal of Economics Perspectives](http://www.aeaweb.org/jep/mobile.php) just dropped, which means ITS JOURNAL DAY AGAIN! + +**FAQ** + +*What's journal day?* + +Glad you asked. It's the one day every three month we shut down the "news" part of the subreddit, and concentrate on the academic literature. For the next 24 hours, we're only allowing academic publication to be submitted. + +*I tried to submit a journal article and it didn't go through!* + +Whoops! Sorry about that. Message the mods and we'll release it, or we'll add the domain. Current white list domains are: aeaweb.org, nber.org, aaea.org, jstor.org, repec.org, economics-ejournal.org, and ssrn.com + +*Can I submit a working paper?* + +Sure! Working papers, think tank reports, your own dissertation - it's all good. + +*What happened to that Grossman-Stiglitz Article?* + +[It's still up](http://www.reddit.com/r/Economics/comments/1wuw1d/article_of_the_week_on_the_impossibility_of/). It will be stickied again tomorrow. + +*I don't like journal day! How can I stop it?* + +Tell us here - consider this an open thread to let the mods know how we are doing. We're especially interested in getting feedback on some of the new initiatives we started 3 months ago, including: + +* Journal Day +* Article of the Week +* Quality Contributors +Welcome to the open discussion thread. + +This space is reserved for open discussion or questions on research and news on economics. + +Talk about economics among yourselves. + +Hi all, + +I have crypto stored in multiple wallets and exchanges all over the place. In the unlikely event that I die, I still want my family to have access to my funds. Unfortunately, my kids are still very young and nobody else in the family has the slightest idea how to operate in the crypto world. + +So, I made a *"how to get the crypto money out"* template for family members who lose a loved one. I tried not to get too technical, only really covering the basics, but still all the necessary details to withdraw the funds. I'm happy to accept some feedback and modify with some suggestions. It's set up as a [View-only but downloadable Google Doc](https://docs.google.com/document/d/1xVVWYLx-xJGTNviGdFetZXusPmmvFw2b8PUCUV9TxsU/edit?usp=sharing) If anyone wishes to use it. + +Obviously, I hope it's never needed, but what I fear more is my kids future being negatively impacted because I was too lazy to set up some basic information for them. +This marks the first time Palantir’s Gotham software is being integrated with the Army’s latest mission command software application, called the Command Post Computing Environment (CPCE), making Palantir a key partner in accelerating the Army’s modernization... + +More: +https://finance.yahoo.com/news/palantir-enters-mission-command-space-213700719.html + +To the moon! 🚀🚀🚀 +I decided to do this for 3 reasons: + +1- Inflation + +2- Make more money to me and my family + +3 - ‘Fight’ against the current economical system + + +6 months ago I bought bitcoin in a exchange and still hodling, where should I buy now? I created an account in blockchain.com , looks safe and trustable, what are your thoughts about this? +Every month i think “i’ll treat myself with some gains” then every month I say to myself “but that’ll reduce my holdings” so then I think “maybe i’ll contribute a bit less this month and buy something” but then I say to myself “but you’re passing up a buying opportunity at the best time in history (aside from the past), so I contribute that month and the cycle continues....for ever + +Now to be clear, i have a good job and i’m not at all materialistic , so this doesn’t negatively impact my life, it’s just a funny loop to be in. The reality is that I probably don’t actually want the treat as much as I want financial freedom in the future, and that’s no bad thing I guess. +I want the ETF to be approved as soon as possible, just as much as the next investor. I think it would spark a bull run and push us to glorious new ATHs. Despite this, **I think it's important to stay realistic and be prepared for it to be delayed or rejected for two main reasons:** (1) the government operates excruciatingly slow and (2) the government is more conservative than the private sector, and is full of ex-bankers and Wall St execs - the same industries that crypto threatens. + +Whether an ETF is approved in August, next year, or not at all, **I'm still extremely bullish on BTC in the short AND long term.** I think a sell off as a result of an unfavorable ETF decision would do us more harm than good. + +Why? Because of the scarcity built into it: there will never be more than 21 million bitcoins in existence. Whether BTC is currently underpriced or overpriced isn't as important as the torrent of positive news we've seen in the last 6 months. Adoption and acceptance are happening around the world. Companies and countries aren't waiting for the US to accept crypto, they're moving ahead on their own. ETFs will likely pop up in other countries, inspiring the US to follow suit. **As long as you accept the basic premise that BTC will be used by an increasing number people in the future, supply & demand principles should drive up the price over time.** + +Another factor not talked about often is bitcoin's fractionalization - **the idea that you can own a little as 1 millionth of a BTC makes it much more accessible and psychologically appealing and scaleable to the general public.** + +As an example, Amazon stock currently trades for $1,824. Stocks are only traded in whole numbers. **More than half of Americans have less than $1,000 in their savings account. Until that changes, they'll never be able afford even a single share of Amazon stock.** + +**Also, a reminder of BTC closing prices (in USD) on this day in the last 5 years:** + +July 24 2018: $8,200? + +July 24 2017: $2,754 + +July 24 2016: $661 + +July 24 2015: $288 + +July 24 2014: $601 + +July 24 2013: $94 + +Thanks to everyone who read all of that, it was kind of all over the place but I thought it was important to share, especially as this sub adds new subscribers as a result of this recent bull run. I'm really excited for the second half of this year, lets keep up the good work! +One month from now: + +"We're going to let you go." + +Mmmmkay. + +"Would you like to know why?" + +Can I guess? + +"Wait, what?" + +Is it because I'm only 25% as productive as I was 4 months ago? + +"Uhhhhh, yes." + +That's fair. Bu bye now. + +"HR can talk with you about your COBRA benefits." + +I'm good. GME hit a million this morning and I sold my first share. Thanks though. +**TL;DR:** + +* **Apollo Global Management--who tried to buy GME in 2019 and owns FUD site Yahoo! Finance--has tons of Russian links.** +* **In 2011, Apollo Global acquired Altpoint Capital--formerly Stone Tower--which is how Russian oligarch Vladimir Potanin stored much of his Russian oligarch money in the US.** +* **Apollo was part of the Russian Direct Investment Fund. This was sanctioned in 2011.** +* **Apart from talks with Putin over real estate investment, Leon Black has talked to other oligarchs per disclosures as well as signed on for a major real estate project in NYC to, in essence, hide $21 million investment by Russian oligarch Albert Avdolyn at 111 West 57th Street.** + +EDIT 2: Made in a rush. Few changes, "Education" tag makes more sense than Possible DD. + +**Also may let mod know that in case this post comes off as poor taste perfectly fine having it taken down**. I know the timing is not the greatest and we are dealing with open wounds given the current conflict. + +**In either case, this post came up as it ran somewhat parallel to a topic I'm researching now elsewhere. I posted this in part to show that given all the tragedy going on, none of what--in part--enables all this is done in a vacuum.** +**And no matter what we must hold groups like Apollo accountable, whether them affecting US American citizens or here, but also in Russia/Ukraine.** + +&#x200B; + +# 1. Preface: Apollo & the NBA + +For every complaint about the NBA’s take on China during the Uyghur crisis some time back, an even quieter undercurrent never quite hit the NBA in terms of outcry: their lack of response over the Jeffrey Epstein scandal. + +https://preview.redd.it/32fqayzmruj81.png?width=2048&format=png&auto=webp&s=0ea71fdca88deec4ba5a7927514aa533eeb7ab60 + +In particular, this was because one of the NBA's biggest funders--Apollo Global--had found itself being tied to Epstein, largely due to the connections between its then-head Leon Black. + +For a quick reference, Apollo Global is balls deep in the NBA. The Apollo links between them and the NBA are crazyyyy: + +* The heads of the 76ers and Hawks all made their fortunes at Apollo Global + +&#x200B; + +[Josh Harris, Apollo Head who is here with 76ers star Allen Iverson](https://preview.redd.it/tl8hwqfrruj81.png?width=1053&format=png&auto=webp&s=9f119dd2af9520b8cd94aefc55333511f75c9bdc) + +* Rockets buyout included Apollo/Drexel links (think Milken “junk bond king”) +* NBA’s commissioner Adam Silver is close to his college roomie at Duke who SURPRISE is co-head at Apollo + +&#x200B; + +Now TrueHoop writers first mentioned Apollo in a huge multi-part series on the NBA's "Epstein" problem. + +&#x200B; + +https://preview.redd.it/nnytxp4iruj81.png?width=1487&format=png&auto=webp&s=a38410d6eb9b68cae7b878fef1ab20f1385aa34c + +*Link*: [https://www.truehoop.com/p/the-nbas-most-important-source-of?utm\_source=url](https://www.truehoop.com/p/the-nbas-most-important-source-of?utm_source=url) + +Apollo Global and then-head Leon Black are often considered sometimes the biggest rainmaker for the NBA, but there was little discussion of the NBA's image considering its link to Apollo & Epstein. + +&#x200B; + +And remember came all as Leon Black eventually stepped down from his position at Apollo due to outcry over his links to Epstein. + +&#x200B; + +https://preview.redd.it/4wbs0dhbruj81.png?width=1200&format=png&auto=webp&s=c9b9575bfe10d44ce3f1d7d5015dd1484112cccf + +# 2. No Comment + +Many were wondering whether the NBA would comment as an organization on the Ukraine crisis, and some writers at NBA fansite TrueHoop tried to ask them for comment: + +>At 7:19 am ET Thursday I emailed NBA spokesman Mike Bass asking if the NBA has any statement on the Russian invasion of Ukraine…T**he NBA has not responded to my email, I don’t know the league’s position on Putin’s invasion.** + +They theorized, in particular, whether some of this might have to do with those Apollo connections. And those connections lie in Apollo Management--the firm that tried to buy GME in 2019 alongside Sycamore and home to Yahoo! Finance's bullshit FUD. + +**And their theories might run right. Because while Apollo is balls deep in the NBA, they are also BALLS DEEP in Russian oligarch money.** + +&#x200B; + +# 3. Potanin Village + +https://preview.redd.it/zqxy6lvfquj81.png?width=700&format=png&auto=webp&s=0d9e8b6a4e38ef9d70256df76712e2cc562021ef + +**Apollo Global finds one major Russian connection in its dealings with Russian oligarch Vladimir Potanin.** + +Potanin–worth fucking \~$19 BILLION USD–has deep ties to Putin. After the Soviet state collapsed in the 90s, Potanin used the “loans-for-shares” program to overtake mining company Nornickel. Think of “loans-for-shares” as a way oligarchs were able to “buy the dip” once the Soviet economy went tits up.Potanin was quick to send cash over to US hedge funds, with one in particular. **Potanin’s biggest hedge fund entrypoint was Altpoint Capital, an early investor in Lyft and the Ford modeling agency (think Brooke Shields, Elle Macpherson).** + +&#x200B; + +[How evil could they be? look at all the colors on that desk!](https://preview.redd.it/320uvfnkquj81.png?width=1920&format=png&auto=webp&s=734e0721a893bc645fda821f73838c52e8c28918) + +**Altpoint–formerly known as Stone Tower Capital–was Potanin’s captive private equity fund used to hold his assets in America**. The fund was run by a man named Guerman Aliev. Now it’s run by Gerald Banks…hope there are no surprises there... + +&#x200B; + +[Guerman Aliev...](https://preview.redd.it/2opdurf8quj81.png?width=396&format=png&auto=webp&s=5994a4ccbef3a71d490d0472d14ec4eada34c1a8) + +&#x200B; + +[Gerald Banks...wait a second....](https://preview.redd.it/qi685a0cquj81.png?width=400&format=png&auto=webp&s=40826fc189d976b6635fb4d910735663f913f67d) + +But surprise! I**T’S THE SAME DUDE. Aliev changed his nam**e. + +**Why Stone Capital matters is that it was acquired by Apollo Global in 2011:** + +>In 2011, Apollo acquired Stone Tower Capital LLC and with it, Potanin’s old fund, Stone Tower Equity Ventures, for an undisclosed sum. **Stone Tower Equity Ventures is now known as Apollo ST Capital LLC.** + +# + +# 4. Constructing More Ties + +Of course, that's not the only link. + +&#x200B; + +https://preview.redd.it/ddqyynhzruj81.png?width=695&format=png&auto=webp&s=c9cc7934f97bdb1e5c9bf9299fb1a85eb4962fcc + +Apollo Global’s head Leon Black was part of the advisory board of the $10 billion Russian Direct Investment Fund in 2011. The who’s who of who else was on that include Stephen Shwartzman (Blackstone Group) and David Bonderman (TPG) **This was group was later added to a sanction list in 2015 by the US Treasury (!)** + +&#x200B; + +**In my recent post on “Headlands” the HUGE electronic market maker for the municipal and corporate bond market made up of 3 heads, ALL OF WHICH ARE EX-CITADEL, had done a deal that involved TPG actually which was linked to GME short White Square:** + +&#x200B; + +https://preview.redd.it/tjwjraw6suj81.png?width=865&format=png&auto=webp&s=58c84906b3f1c88bdd4b23915a2963d5a3a1b67d + +Link: [https://www.reddit.com/r/Superstonk/comments/sy6ubj/headlands\_how\_exmayo\_mercenaries\_copy\_pasted/](https://www.reddit.com/r/Superstonk/comments/sy6ubj/headlands_how_exmayo_mercenaries_copy_pasted/) + +In addition to Apollo's link to that sanctioned investment fund, Black himself was forced to testify in Congress in Aug. 2018 due to a 1996 trip to Moscow alongside others including former guy as well as other finance heads (Black’s story involved him partying at a “discoteque”). + +&#x200B; + +And that's just a glimpse of oligarch links. Other ones include: + +* **Black also met with Putin in Sept. 2011 to discuss plans for Apollo to invest in Russia**. +* Black has had connections/conversations with other oligarchs including Oleg Deripaska, and also knows Allen Vine, middleman to oligarch Suleiman Kerimov. +* Apollo loaded up on debt in Texas plastics giant alongside Len Blavatnik’s buying up of shares + +&#x200B; + +And among one of the most recent draws alongside the ones above has actually been construction. + +&#x200B; + +Apollo helped to sign on an original tower project for former guy in Moscow some years back. But stateside for any Americapes, you had Apollo signing on to many major projects infused with that sweet sweet oligarch money. One of the biggest is this one: 111 West 57th Street in NYC. + +&#x200B; + +https://preview.redd.it/81jpq0gxquj81.png?width=1500&format=png&auto=webp&s=37b426cccae8f6c1f4a45d51a60544f8b138e402 + +**In 2018, Russian oligarch Albert Avdolyn threw beaucoup money at 111 West 57th Street.** In “A Russian oligarch’s guide: How to hide $20M in a NYC skyscraper”, it talked about how this was done: + +&#x200B; + +[Above the poors](https://preview.redd.it/9tnujtazquj81.png?width=2000&format=png&auto=webp&s=95c609493095e29f8c120fbe32c5df06c262622d) + +&#x200B; + +>**The $21 million investment, disguised behind a series of frontmen, shell companies and promissory notes, was known only to a small number of people. Other investors in the construction project, including AIG, Apollo Global Management, Madison Realty Capital and developers Michael Stern and Kevin Maloney,** all declined to comment on the record. Sources involved in the project told The Real Deal that those investors were kept in the dark about the Russians’ role. + +&#x200B; + +iN tHe DarK? Ah yes, given Apollo's history with Russian oligarch money I'm sure that's the case. + +[A perfect view to have Apollo Global over for your oligarch tea](https://preview.redd.it/a3xyqt41ruj81.png?width=1600&format=png&auto=webp&s=dc282aed36a37237a5ededf9056ee052a032c50f) + +Once you take a step back, whether a step back shot look at the NBA, or at Apollo's acquisitions, it's easy to see how these fuckers have their dick in the oligarch pot central--unfortunately--to the crisis currently going on. + +&#x200B; + +**TL;DR:** + +* **Apollo Global Management--who tried to buy GME in 2019 and owns FUD site Yahoo! Finance--has tons of Russian links.** +* **In 2011, Apollo Global acquired Altpoint Capital--formerly Stone Tower--which is how Russian oligarch Vladimir Potanin stored much of his Russian oligarch money in the US.** +* **Apollo was part of the Russian Direct Investment Fund. This was sanctioned in 2011.** +* **Apart from talks with Putin over real estate investment, Leon Black has talked to other oligarchs per disclosures as well as signed on for a major real estate project in NYC to, in essence, hide $21 million investment by Russian oligarch Albert Avdolyn at 117 West 57th Street.** + +&#x200B; + +&#x200B; + +EDIT 2: Made in a rush. Few changes, "Education" tag makes more sense than Possible DD. + +**Also may let mod know that in case this post comes off as poor taste perfectly fine having it taken down**. I know the timing is not the greatest and we are dealing with open wounds given the current conflict. + +**In either case, this post came up as it ran somewhat parallel to a topic I'm researching now elsewhere. I posted this in part to show that given all the tragedy going on, none of what--in part--enables all this is done in a vacuum.** +**And no matter what we must hold groups like Apollo accountable, whether them affecting US American citizens or here, but also in Russia/Ukraine.** +*I apologise for the rant. I know this is an Internet forum - but to many of us, this is truly a community. A community that has been around for a long time, where bonds have been made, and people, friends even, have gone through the ups and down of this wild wild crypto ride for a long long time.* + +Since moons, well, mooned - we’ve had a huge influx of newcomers join. And that’s great. More people means more opinions means more constructive discussions and different perspectives. If a community never grew, neither would our minds, and discussions would quickly stagnate. + +And I get it. You realise members of this sub can earn actual crypto, with real-life value. So why shouldn’t you do too? It’s free, it’s worth money - *what more can anyone ask for?* + +But please, and this goes out to all newcomers: before you start spamming low quality shitposts, the same “news” links over and over from low tier news sources, and the same self-stories that have been over-flooding other subs (I swear some of you don’t even bother paraphrasing it even the tiniest bit) - **take the time to read the rules, and learn - at least the tiniest bit - the etiquette of this community.** *Shit, at least the scope of this community.* + +Over the last week I’ve witnessed a baffling increase of: + +&#x200B; + +* Crappy links from bottom tier news sources predicting X price for this by eow, eom or eoy. Posted over and over again. +* Comment sections full of people talking about how ‘crypto is just great for buying drugs’ +* Posts that have nothing to do with crypto. I get it - RobbingHood had their IPO and it tanked. One post is enough. If you want to discuss their stock - there are plenty of dedicated communities for that - stock discussions. +* Posts about “fighting the hedgies” +* Posts about short squeezing Bitcoin. +* Posts about Wall Street bad, hating Wall Street, and now Jordan Belfort says this, predicts that. +* Random shilling of actual shitcoins (I mean r/cryptomoonshoots level shitcoins). + +And this is just out the top of my head. + +&#x200B; + +If you enter someone’s home, you wouldn’t shit all over their carpet? If you meet people from different backgrounds, you wouldn’t shit all over their culture? You would adapt to their ways, or at the very least take them into consideration? *Right?* + +**Crypto is a beautiful, fascinating and truly magical thing. There is so much to learn, so much to discover, so much to build, and so much to discuss. And this community, and its members, hold so much knowledge. If you’re interested in something very particular, don’t understand something, curious about something - just ask! If you found some cool information, made an analysis, whipped up an infographic, have some breaking news - share it!** + +But at the very least, keep it focused on crypto. + +Moons are cool - and eventually, they will come to you. There is no need to spam garbage. As with anything in crypto, patience is the key. + +Take the time to learn, to inform yourself, to grow your passion and your newly found interest. Educate yourself. Inform yourself. Become a member of the community. Don’t be that guy. + +So please, let’s keep this wonderful sub just that - wonderful - together, as a community. Don’t turn this into Wall Street Bets or Satoshi Street Bets. Don't let this sub turn to shit. + +Thank you for reading. + +*- A tired and irritated cheeseburger* + +*Edit*: I am aware I shit on my own point by using the self-story flair. But at fault of there being no other fitting flair, that's the way it will have to be :p + +*Edit 2*: I am by no means shitting on WallstreetBets, or any other sub. I enjoy lurking there too. I enjoy the shittalk there too. Pre - GME that is. + +But this is a Cryptocurrency sub, so let’s try, together, to keep it that way. + +*Edit 3*: If you want to be more involved, please also head over to r/CryptoCurrencyMeta and vote on polls. + +*Edit 4*: When in Rome, do as the Romans. That’s my point. + +*Edit 5*: Well gee, this blew up. Thanks for the awards friendos, and thanks for the positive comments. I am glad to see other’s share my sentiment. +I'm 18 right now and currently unemployed. I don't have any money, nor a car or license. I don't have any friends that will let me stay. I'll be homeless. But, they insist I be out by June. They will not have me stay with them any longer. I'm a Man and an Adult and therefore I am to strike it out on my own. + +Like I said I have nothing. I can not possibly afford rent. Even cheap 1 BR apartments are well over $1200/m here. There's no public transportation and no real way of walking anywhere since there's no sidewalks or paths anywhere. I'd be forced to walk alongside a busy highway to get anywhere. + +Please, help what do I do? + +The FDA approved their IV opioid recently and of course there has market manipulation from hell in after-hours trading. These cantankerous cock holsters tanked it to a bit below what it was before they even announced the approval. Now they proposed the public offering and the price has dropped even more considerably. Anyone want to give a rundown of what could possibly happen in these next few weeks/ days? + + +I'm currently in quite heavily at the moment, I've got 6 kids on the way from 7 different women, child support to an 8th that be makin shit up. Ain't my baby, ain't my problem. Look at his nose, ain't even my nose, lil kid look like the damn Taco Bell dog went and fucked Condaleeza Rice. I'll go on the Maury show. Ain't. My. Baby. Everytime I buy a bag of diapers for retarded Morgan Freeman looking baby is like 24 chicken wings and a coke with light ice I coulda had. Nope. Lil kid look like the sound of a wet fart you think you can just let slide on out but nope. There was more than just air in that fart. Like poppin a wet balloon filled with a quarter tablespoon of some ass water. Baby look like he sneaking chromosomes to snack on later. Not my kidddddd. I thought you was yo cousin anyways. + +But about that stock. Any ideas? + +Edit: Matt Damon just confirmed, "Short Sell Rule In effect by the SEC for Trevena starting at 9:30 EST 8/12/20." +I am fairly new to investing and have had some luck with buying stocks that I find through articles/blogs, but I was curious how you guys find stocks that you want to invest in. Do you have any favorite resources +I have a question about contributing to a 401(k) for a second job / side hustle. + +I work for a state government agency, and have a retirement account through my employer set up specifically for state employees. I also contribute to a Roth IRA annually. + +In addition to my primary employment, I maintain membership in an arts labor union (actor’s equity) and periodically earn additional income from that work, but not more than a couple thousand dollars at a time . The union offers a 401(k) to its members, allowing members to contribute up to 85% of their salary. + +Since I have other primary employment and other retirement accounts, and am earning as an artist on the side, am I limited to contributing 85% of what I earn in arts employment specifically to the 401(k)? Or can I contribute more, based on my total income from my primary employment? + +Thanks! + +Obviously this changes based on location, nonetheless I was curious how much of your pay per month you all spend on rent. + +I recently graduated from college and am looking to move out. I live in Boston, so the cost of living is pretty high. In my case, I’m curious if spending about 1/3 of my monthly salary on rent is reasonable - is that far too much, too little, or about average? + +Thanks in advance! +You are 35 years old, have approximately $200,000 (USD) of invested funds (not including your retirement fund). You currently have a job that pays you well enough to invest an additional $36,000 on an annual basis...essentially 18% of your current invested funds. You are happy with your job, but you are living overseas and have had your fill. Do you cash out and head home into the great unknown, or stick it out a few more years to further develop investments? + +I am currently in a situation very similar to the one described above. My heart tells me it's about time to wrap it up, but my head tells me in 5 years I can more than double my invested funds. I am trying to quantify this situation as much as possible and would welcome anyone's analysis. I am very well qualified in my field, but I have spent my entire adult life outside of my home country, leaving me with essentially no professional network there. This makes it challenging for me to quantify my risk with a potential move. +I’ve been reading a lot of different post on here and some great advice. I’m just going to go out on a limb and just give my situation. Any advice is helpful. + +My grandpa recently passed away. Of Copd and we think covid might have got to him but the doctors didn’t even check. + +He has no living kids and his grandkids are on a living trust that he set up. + +Currently 5 of us on the living trust. + +And I don’t want to sound like I’m money hungry or anything. I’m just scared to mess this up. My grandpa worked very hard to make this right for us. + +My grandpa was really good with money. Loved to save and never spent a dime unless he had to. Even collected Pennies in pill jars. Still going through everything. In total had about 775k in his bank and owned 2 homes. + +1 home is valued around 500-550k The other is valued at 400k + +First I’m 26 years old My wife is 31(doesn’t work) We have 2 kids together 3 year old and 1 year old + +Currently together we have $5,142 credit card debt $5,127 personal loans $5,001 auto loan And about $35,000 student debt + +Basically i just want to know what to do. Currently I live in the 2nd home that prices at 400k with my family. My brothers have given my a choice to keep the house and not get any money. Or I can get money and sell it. Because of my situation my brothers are giving me this option and we are all really close so no one seems upset about it. + +I could really use the money. But I don’t want to move and look for a new home in California. With prices so high. + +Thanks again people. +Remember how the stock market did horrible on Wednesday? I figure it’s because those hedge fund people had to pay off their short trades by selling off their other stocks. How could this not be the case? + +If this is true, perhaps we’re in for a bumpy ride tomorrow and as long as this shit continues. +I was recently gifted a small but honorable about from my grandpa of about 2k per kid. The purpose of the money is to start some college funds for them. What are my best options to start for my 2 (3 weeks old and 2.5 year old) kids for their higher education funds? +My wife is having a baby next month. I started a 529 and am trying to figure out whether to put 20k in right now or spread it out over xx period. If so what should that period be. I was thinking 1 or 2 years but I have the cash now to do it all. +Hi everyone! I (18M) recently got a 20 year term life insurance policy for $20 a month with a 500k benefit. I’m wondering if it makes sense for me to have this policy. + +For context, I’m planning on getting married in about 3 years, and I will be attending dental school so I’m afraid of leaving behind massive student debt if I do pass away. + +Does it make more sense for me to wait until I get married and have an actual household? Im then concerned about how the monthly rate would increase due to being older. Can someone help me run the numbers here? Thank you! +I’m young, single, debt-free, and making $90,000 a year. I have approximately 28 more credit hours of courses to take before I can apply to medical school, at an estimated cost of $35,000 tuition. + +I plan to take these classes part-time over the next two years, and pay tuition with cash as I go. This would put me starting medical school with enough money to live off of for the next 4 years (Around $50,000), and I would only take loans for med school tuition. + +What do you think of this plan? +just got hired as a city employee making 30k a year and ill get automatic raises for the next 13 years every six months until i top out at 116k + +i currently have 28k in an ally 5yr cd earning 1.51% (i just put it in there because i didnt know what to do with it and theres only a 60 day penality) + + +also owe 22k to sallie mae at 6% + + +im looking for any advice as to where or what to invest, should i buy a house, get an ira? + + I was just pre approved for a mortgage and I'm interested in hearing your guys input. + +I'm 30 years old my wife is 27 and currently in school. She wants to become a registered nurse. She will be looking to apply to RN school in about a year. She has no income aside from mine until she finishes school. She just takes care of the kids and does school which is like a full time job. + +We have 3 children and no major debt. Aside from a truck I pay $309 a month for. My wife has a brand new car we bought outright. Right now we are living at a back house at my father in laws paying 600$ a month but they decided to move and sell this house. + +I make around 120,000 a year with overtime. My checks are $1307 weekly if I work 40 hrs a week I usually work more then 40 not less. We have a 403b where $10$ every hr I work is paid into it. It's not a match or anything. The company I work for pays the $10 dollars per hour. I don't think I can even put any more then that in. I'm fully vested in this. We also have a pension where every year I get $130 credit So for somebody who works for 30 years they would get 3900 $ a month. I'm not vested in this and won't be for another 10 years. Our health insurance is fully paid for thru my work. We don't pay any money for this and we are all covered. I also have a company vehicle and all my gas is paid for by my company. + +We're looking to buy a 3 bedroom house for no more then 550k. We have 100,000 for a down payment. + +Our monthly payment on the mortgage would be $2601. That's homeowners insurance., pmi, and taxes all wrapped together. + +I feel like it might be a little tight because we don't know exactly how much our bills would be. Things like electricity, cable stuff like that. But I feel like we could do it. What do you guys think?? Any and all input is appreciated. Thank your for your time in advance. +I realize that talking to a professional is going to be recommended and I will at some point soon, but I wanted to seek the advice and guidance of you fine individuals for additional information, food for thought, suggestions, etc. + +Long story short, I inherited about $400k and looking at about another $200k once the estate property sells. So let’s just say somewhere between $500-$600k will be the total inheritance. I am married with two kids. Immediately, I paid off my school loans (it was around $40k and the interest rate was about 5%, roughly $300/month for twenty more years)... killing that cockroach was pretty satisfying. We then paid off a $12k home equity line (was between 6-7% interest rate). My husband bought a new to us (used) car (his car was 13 years old and it was time)... that was about $40k. Otherwise, that was the extent of the money spent. + +So, as far as our assets/debts: we own two properties outright. It’s a long story but we’re not collecting rent on either of them (mother in law lives in one and husband’s aunt lives in the other). If anything, they’re costing us a little money (we pay the taxes and insurance on house for MIL and just insurance on house aunt lives in). We also own a condo that is rented... we have a mortgage of about $88k on condo and it’s worth about $135k). We charge $1350 in rent, but after paying the mortgage and condo fees, we only make about $150. We are planning on refinancing this property, as our rate is 6.5%, high by today’s standards. The house we live in is worth about $285k and we owe about $205k (mortgage is $1400/month, 30 year loan at 3.5% interest). + +Additional info: both husband and I have retirement funds (deferred comp), not sure how much I have in there (maybe each $20k, give or take) but we contribute every paycheck (I contribute maybe $100/biweekly; husband around the same). I make 65k/year and husband 78k/year pretax. After taxes, we take in about 6k/month. We are 37 and 43 yo, respectively. + +We have no credit card debt, both our credit scores are in the 800’s. My only debt is federal school loans ( about 10k at 2-3% interest)... I should be done paying this off in the next five years. + +If you’ve read this far, thank you. Please let me know your thoughts on what we should be doing/considering as far as finances, saving, etc. The stock market scares me. We have our feet wet in rentals so I wouldn’t mind buying another rental property. +What would be the best way to use equity. We bought our house about 7 years ago and made extra payments and refinanced at a lower rate (2.5%)when rates were low. We now have about $65000 in equity. + +Now, I always hear about people using equity to make smart moves, doing this and that and then grow their money. Not sure if they use that to buy stocks or do some financial wizardry to make more money with that equity. + +Im always playing on the safe side so my best plan is to just use that money to upgrade my house in order to up the value in the long run. + +That being said, was wondering what other things can be done with equity? + +Thanks! +For those who invest in 529s for their kids, are you already maxed out on other retirement plans? We haven’t started a 529 because we are not yet maxed out in our 401k and IRA’s but wondering if we should be putting some towards a 529 or waiting until we can max the others out first. My thought is to invest fully for retirement first but I would like to hear others thoughts. +I have 8k credit card debt from a surgery and emergency car expenses. It’s 0% interest for another year and I’m paying the minimum of $120/mo. I’m getting 3k back from my tax refunds. I have about 1k in my checking as a buffer I don’t touch but with my two jobs I am working paycheck to paycheck after child support and bills and able to put about $200/mo away into savings. + +Would you suggest I put this extra 4K after tax refunds in savings and continue paying the minimum (or slightly more around $200/mo) or pay off my credit card as quickly as I can? +I'm so confused as to why people keep saying they're selling today or tomorrow. From my knowledge apple has always risen for the entire week of their unveilments. So why do any of you think it'll drop before/after the event? Sure we know the specs. I don't believe iphones is in any way better than Android's. But they have perfected marketing. And last I remember apple continued to rise until September hit and even then apple is almost back at it's peak. Not sure why it dropped September if someone knows please comment. But again besides y'all being afraid of pullbacks any reason or history from apple specifically you think it'll drop instead of rising this week +Hi all, + +My wife and I just moved to a different state almost a month ago with a toddler. I went full remote and able to work remotely without an issue, but my wife just quit her job. + +I have been working at a federal position for almost 3 years as SQL programmer/data analyst. I've gotten a 'raise' last September, but it doesn't kick in until this upcoming September (not retroactive either). I brought up how i want to do more/different from my current position around May. And my boss was really receptive and even talked about how he was planning on giving me a promotion. Then, the during the midyear review (maybe a month after), he didn't even bring it up which was a bit frustrating. So, I've been looking around for a new opportunity. + +I found applied for a few different positions, and I got an offer that pays 25K more, but it's a start up company. The last funding was Series D in Feb. 2020 for 100M, which I think is ok? I do like the position they are offering me, but I do hear a lot of push back from friends about it. I'm not sure if going into a start up is a correct move for me, especially with a baby. + +My question is should I take the 25K raise and take a risk OR use the offer to counter at my current position? + +Edit: Let me say thank you for all your wonderful suggestions. My wife and I are going to read them all, and I'll respond where I can. I'm learning a lot aspects that I did not consider before, and all this information is immensely helpful. I think it comes down to do I value money over time, and I think that might take some time to figure out. +I am so sick of seeing this massive influx of BS posts about outlandish conversations people are supposedly having with Fidelity. The first couple of assholes did it and this sub ate that shit up. Now every single clout chasing mouth breather who wants free internet points is posting out these wild interactions with Fidelity. THEY ARE NOT HAPPENING. + +&#x200B; + +Show me ONE SINGLE piece of evidence? Well over half of US states have one party recording laws, yet not a single motherfucker has recorded any of this crazy shit people are claiming? I say again, THE CONVERSATIONS ARE NOT HAPPENING. It's that plain and simple. + +&#x200B; + +As a sub we are supposed to pride ourselves on research and seeking out the truth, but instead we just eat these stupid posts up without any evidence whatsoever. This whole "trust me bro" thing needs to stop. It is unacceptable that we are giving these people attention for making outlandish claims with no evidence whatsoever. Call recording apps are like $5 on the app store. Buy one and start recording your calls. I guarantee these posts would stop 100% if we start requiring them to be accompanied by evidence. **Prove me wrong, PLEASE. Nothing would make me happier.** + +&#x200B; + +The average customer service rep at Fidelity does not know enough to care what you do with your shares. As an organization they have something like 40k employees, do you realize how much of a security risk it would be if everyone all the way down to a CSR knew the deep dark secrets and underhanded methods that they use as a brokerage? Use your brains people. + +&#x200B; + +Buy, DRS, Hodl. This thing isn't going to be blown wide open because an entry level rep at Fidelity has an oopsie and spills all the deep dark secrets. +Hi! + +So just for some background, I currently have a bank account which is controlled by by parents and they can see what goes in out etc. I am of legal age to create my own bank account, however I dont want them finding out about it. I know banks send out mail and even the card itself they send to your address. I was wondering if there is anyway to avoid this. +I keep hearing people talking about how people aren't spending as much as they used to, saving their money, and somehow ruining the economy by doing it. why? +I remember when Amazon was at $300, Nvidia was at $50 and Tesla was at $200 (before the split). People who caught these waves, and others; how did you do it? Where do you find new companies and industries like this that are destined to blow up? I know that some investors must have benefited from Netflix, Apple, Facebook, Beyond, AMD, etc. what’s the trick to spotting these investments, and is there a website where you can see new emerging companies and trends that may be disruptive? +It just feels so sudden but I've only recently realized how I need to be doing things like sports clubs or anything like that so I can have it written down as a reason to hire me and it feels kind of depressing. + +What can I do now that will help me the most in the future, i'm absolutely terrified of not finding any work and being stuck unable to find work or worse yet make other people pay for my inability to work in society. +I live in a rural area but surprisingly I barely know anyone, so what could I do to make my future better? + +EDIT: I play video games with friends but that can't be put on a CV so the title was an exaggeration. But I still have no idea what to do in the future or what will happen. So what can I do now that i'll end up thanking my self for later? + +Re-EDIT : Thanks for all of the wonderful advice + + +IR-2019-179, November 6, 2019 + +WASHINGTON — The Internal Revenue Service today announced that employees in 401(k) plans will be able to contribute up to $19,500 next year. + +The IRS announced this and other changes in Notice 2019-59 (PDF), posted today on IRS.gov. This guidance provides cost‑of‑living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2020. + +Highlights of changes for 2020 +The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government's Thrift Savings Plan is increased from $19,000 to $19,500. + +The catch-up contribution limit for employees aged 50 and over who participate in these plans is increased from $6,000 to $6,500. + +The limitation regarding SIMPLE retirement accounts for 2020 is increased to $13,500, up from $13,000 for 2019. + +The income ranges for determining eligibility to make deductible contributions to traditional Individual Retirement Arrangements (IRAs), to contribute to Roth IRAs and to claim the Saver's Credit all increased for 2020. + +Taxpayers can deduct contributions to a traditional IRA if they meet certain conditions. If during the year either the taxpayer or his or her spouse was covered by a retirement plan at work, the deduction may be reduced, or phased out, until it is eliminated, depending on filing status and income. (If neither the taxpayer nor his or her spouse is covered by a retirement plan at work, the phase-outs of the deduction do not apply.) Here are the phase-out ranges for 2020: + + + +For single taxpayers covered by a workplace retirement plan, the phase-out range is $65,000 to $75,000, up from $64,000 to $74,000. +For married couples filing jointly, where the spouse making the IRA contribution is covered by a workplace retirement plan, the phase-out range is $104,000 to $124,000, up from $103,000 to $123,000. +For an IRA contributor who is not covered by a workplace retirement plan and is married to someone who is covered, the deduction is phased out if the couple's income is between $196,000 and $206,000, up from $193,000 and $203,000. +For a married individual filing a separate return who is covered by a workplace retirement plan, the phase-out range is not subject to an annual cost-of-living adjustment and remains $0 to $10,000. + + +The income phase-out range for taxpayers making contributions to a Roth IRA is $124,000 to $139,000 for singles and heads of household, up from $122,000 to $137,000. For married couples filing jointly, the income phase-out range is $196,000 to $206,000, up from $193,000 to $203,000. The phase-out range for a married individual filing a separate return who makes contributions to a Roth IRA is not subject to an annual cost-of-living adjustment and remains $0 to $10,000. + +The income limit for the Saver's Credit (also known as the Retirement Savings Contributions Credit) for low- and moderate-income workers is $65,000 for married couples filing jointly, up from $64,000; $48,750 for heads of household, up from $48,000; and $32,500 for singles and married individuals filing separately, up from $32,000. +Key limit remains unchanged + + +The limit on annual contributions to an IRA remains unchanged at $6,000. The additional catch-up contribution limit for individuals aged 50 and over is not subject to an annual cost-of-living adjustment and remains $1,000. + +Details on these and other retirement-related cost-of-living adjustments for 2020 are in Notice 2019-59 (PDF), available on IRS.gov. + + + +https://www.irs.gov/newsroom/401k-contribution-limit-increases-to-19500-for-2020-catch-up-limit-rises-to-6500 +I know this is entirely subjective and there isn't a true source for good picks but I find myself perusing a lot of websites, listening to podcasts, looking at this sub forum for companies out there that don't make front the front pages, fly under the radar. I was just curious as to where people look as I try and widen my eyes. + +EDIT: Thanks everyone for your responses, I have much digging and research to do! +I contemplated puts on SFIX but the stock seems pretty beaten down for a big move even with a miss next week.. People (women) seem to love lululemon apparel but I'm not about to spend $128 on one pair of mens pants when the ones I wear are 9 bucks at TSCO. The biggest thing I'm hoping for is supply chain issues similar to those that hit Calvin Klein this week. Talk me out of buying a few $370 puts and just focus on Chewy 😏 +>Today, we reveal how Clover Health and its Wall Street celebrity promoter, Chamath Palihapitiya, misled investors about critical aspects of Clover’s business in the run-up to the company’s SPAC go-public transaction last month. + +>Our investigation into Clover Health has spanned almost 4 months and has included more than a dozen interviews with former employees, competitors, and industry experts, dozens of calls to doctor’s offices, and a review of thousands of pages of government reports, insurance filings, regulatory filings, and company marketing materials. + +>Critically, Clover has not disclosed that its business model and its software offering, called the Clover Assistant, are under active investigation by the Department of Justice (DOJ), which is investigating at least 12 issues ranging from kickbacks to marketing practices to undisclosed third-party deals, according to a Civil Investigative Demand (similar to a subpoena) we obtained. + + + +https://hindenburgresearch.com/clover/ + +https://twitter.com/HindenburgRes/status/1357317294473547777 +I am blessed to have a “well paying” job, and come from a good background and university. I earn much above the national average - around the 6 figure mark and am 30m, but when I drive around London or even the affluent outskirts I always think to myself how do people afford these houses? Is everyone a successful business owner? How do people have money to buy these house which are over 1m? + +Would be great the hear from anyone lucky enough to be in this bracket that can afford these houses, and what they do for a living. A part of me is starting to think working a safe corporate job (apart from a handful of industries), is not the path many of the very wealthy people take in this country to become super wealthy.... +https://www.prnewswire.com/news-releases/vanguard-brings-unrivaled-access-to-etfs-with-launch-of-industrys-largest-commission-free-platform-300700163.html +How do you account for inflation in “FAT” pursuits in your calculation of what is needed to FatFIRE 40-60yrs? + +I get that basics like groceries/electronics/vehicles/etc may see only 2% inflation on a average annually, but I find that things like suites in 5 star hotels, real estate in VHCOL cities, and nearly all high end travel destinations accrete at much higher rates in my personal experience. These costs, along with healthcare and tuition/general children costs (which also grows much more than 2%) account for the majority of my annual spend. + +Given the above is not unique to me, how do you account for it in your SWR calculation? +[Here’s](https://www.reddit.com/r/investmentdata/comments/kj69oo/track_trading_by_us_senators/) the dashboard tracking trading by U.S. Senators. + +[Senate Stock trading vs. S&P 500](https://preview.redd.it/4tqxbg3gxkr61.png?width=1960&format=png&auto=webp&s=da597db3d306e5abf848080cec1726e6bce09730) + +A while back I did a little write-up on which politicians I actually think browse this sub, I’ll copy that below: + +**Honorable Mention: Former Rep. Barbara Comstock (VA-10)** + +Comstock lost her 2018 re-election bid and I don't necessarily think she is a WSBer (she doesn't trade nearly as many meme stocks as the other guys on this list) but I do blame her for turning off the ATM that was 2016-2018 $MU. + +She bought \~$75,000 worth of Micron Technology stock on 6/25/18, just days before the first stretch in years when the stock wasn't literally printing money. MU lost half its value in the next 6 months, and still hasn't recovered to the price she purchased it at. + +**#5. Rep. Alan Lowenthal (CA-47)** + +***Favorite meme stocks: SPCE, GLD*** + +Lowenthal is actually one of the more successful traders on this list, having gotten in to $GLD in September of 2019. He also timed his exit from $SPCE pretty well, selling about half of his position right at the mid-February peak. + +If I had to guess, I'd say Lowenthal just lurks the sub looking for opportunities to inverse WSB. + +**#4. Rep. Josh Gottheimer (NJ-5)** + +***Favorite meme stocks: SNAP, TSLA, GE, NVDA, LULU, AMD*** + +The Josh Gottheimer story is a story of perseverance and diamond hands. I'm pretty sure this guy read some DD on here that said SNAP was going to moon after its IPO, because he bought into the stock just days after it went public. He caught the falling knife right on its tip as his position lost 75% of its value over the next couple years. A lesser man would have cut the loss, but Gottheimer just kept buying up more $SNAP even as it was losing him money. Those of you who have an eye on the markets (perhaps a minority) will know that his grit and determination was rewarded handsomely in the last couple months. + +**#3. Sen. Pat Roberts (Kansas)** + +***Favorite meme stocks: TSLA, GLD, BYND, NVDA, GE*** + +Pat Roberts is another guy that I think just comes here to inverse the sub. Roberts made an impeccably well-timed TSLA play a few months ago when he bought in on August 3rd, just a few days before the August run-up began and then sold on September 1st, just before the early September drop. + +Insider trading or inversing WSB? You decide. + +WSB must be big in Kansas, because the next guy up is the fellow who was just elected to fill the vacancy being left by Roberts upcoming departure from the senate. + +**#2. Rep. Roger Marshall (KS-1)** + +***Favorite meme stocks: JNUG, TSLA, SNAP, MU, ROKU, AMD, NVDA, LULU*** + +Marshall got a big promotion to the Senate a few days ago, and if that didn't work out he probably would have switched to day-trading full time. He was already day-trading JNUG within a few months of entering office, buying and then selling thousands of dollars worth of the stock between market open and close. + +What Marshall really lacks is patience, as he recently entered then prematurely exited a position in ROKU in mid-September, missing out on big gains in the weeks to follow. + +**#1 Sen. Sheldon Whitehouse (Rhode Island)** + +***Favorite meme stocks: GME, TSLA, GE, NVDA*** + +The story of Sheldon Whitehouse is not a happy story, but it's a story that might be told of many a member of this community. He had the right ideas, but just did not have strong enough hands to see them through. + +On July 28, 2017, Whitehouse entered a position in $TSLA. Seeing a modest 3% gain through the month of August, he doubled down on his position on August 24th, 2017. + +Although he soon began to lose money as $TSLA sank, in Elon he still trusted, and he bought more $TSLA yet again in December of 2018. + +Sadly for Whitehouse, we now reach the heartbreaking part of the story. Seeing a 30% loss on the investments into TSLA he'd been making over the last 2 years, Whitehouse lost faith and sold the entirety of the position on August 27th, 2019. + +After holding TSLA for over 2 years at a loss, he sold within weeks of what would become a yearlong, nearly 1000% run-up. +https://twitter.com/TheIFS/status/1316989754601295872?s=19 - full tweet, and link to full report in there + +Since automatic enrolment, private sector employees up from 30% to nearly 70%. Self-employed down from 20% to c. 18% in the same period. +I don't really care about the price fluctuations anymore because I'm now a lifetime holder. I puller all my money from other investments to go full bitcoin and I'm moving to El Salvador in a month to go surfing and take some time off, wish me luck! +http://imgur.com/suQlAWQ + +What a great feeling at age 33. Now time to get back to work! And you can tell me to go halfway duck myself I hear that's a thing around these parts. + +Notes: Annual savings rate is 85% of my after tax take home pay: a taxable, Roth IRA, 401k + match, and FSA (some pre some post tax). It leaves enough to cover my expenses and fun stuff. No crazy expenses, no real estate anymore, and choosing enjoyable experience things over enjoyable material things most of the time. I'm a STEM bachelors degree currently in a field sales support role (very enjoyable!) + +That savings rate has been lower, but after lurking here for a while and smashing the keyboard at FireCalc, I found a nice balance to push for FIRE in the coming 5-7 years. + +TL;DR 33 year old mechanical engineering stem grad turned field sales support hit $500k net worth today via saving 85% of total take home pay (via pre and post tax accounts) and will welcome the go half duck yourself comments. + +Edit: Sorry I read savings rate as 85% = (total annual saving)/(take home pay). It appears after some research I should use 62% = (total annual saving)/(gross-tax) [thanks sidebar life!] + +Edit: I answered most of the questions in a post below. +I've been teaching a personal finance class to high schoolers on the side for a little while now. They're all there voluntarily, so it's a good group of kids and their interested and motivated. It's been going well overall, but I'm looking at redesigning it a bit, and so I was curious... + +What are things you had to learn the hard way that you wish someone had taught you before you were an adult? +Firstly, very few people know much about crypto investing. It's typically a crap shoot and anyone who tries to show you technical analysis or research on chart movement is talking out of their ass. + +Most of these people got lucky, rode the bull to the top, then told everyone they did it based on x, y, & z instead of dumb luck. + +Secondly, rich people are risking an extremely small amount of their wealth (or in the case of Elon Musk, his companies wealth, not his own). Sure, it sounds amazing when someone invests hundreds of millions of dollars into crypto. **But they are gambling with a tiny relative amount**. + +When the average /r/CryptoCurrency user invests into crypto, they are likely putting a lot at risk in terms of net worth percentage. + +When the rich lose, they might not be able to buy their 50th car. When the poor loses, they go without food. The risk is not the same regardless of the raw amount of money lost. + +**In summary**: while no one actually knows what they are talking about in terms of crypto investing, you should put more value on the opinion of the person who risks 50% of their $10k net worth vs. the billionaire who puts 0.0001% of their net worth in. The poorer person has more to lose. + +Those of you in the US at the moment will know about this really well. You have the 1% (politicians) deciding the fate of millions of people who desperately need a stimulus check. They don't grasp how a few hundred dollars makes such a big difference to someone who struggles to put food on the table. **Their crypto advice is irrelevant.** +I wanted to be financially independent badly. Now I am (31M, $4M liquid, DINK, & inexpensive tastes). + +Going mostly on momentum and habit. Looking to set worthwhile goals for my 30s. +(Using an alt because I don't want real-life friends who know my user name to see this info.) + +TLDR: more years of freedom and cashflow, at a cost of total return. + +Here's my profile: + +* 33M, married w/ 2 kids +* Subscription business owner netting $50-55K+ monthly +* Own my $850K house free and clear - mortgage was deleted five months ago. Zero other debt. +* Received a diagnosis of low-grade B-cell lymphoma. This slow-growing, incurable cancer might kill me in ten years, or it might never kill me. I'm told different things from different oncologists but I don't want to focus too much on that, though it is perhaps relevant to my unorthodox thinking. +* Since paying my house off, I've amassed $250K entirely into SPHD. This now pays over $1,000 per month, which I'm (currently) reinvesting. + +So that last line is why I'm here - here we go. + +I'm aware value stocks won't net the same total return, but for people like us - comparatively rich people - who cares? Regardless of whether my cancer kills me, why aren't we ALL living like we might only have ten more years? I don't understand this mentality of trying to amass the biggest number possible and then starting a withdrawal rate. FatFIRE is supposed to be for ass kickers. 1%ers. People who live like everyone else only dreams of living. Why not build up your cashflow the *biggest* you can, then live to the *maximum ability* you can, for as *long* as you can? Even if it means less Total Return? + +The most likely answer is that someone will say because the \~8% historic return of VTSAX will surpass the \~5% of SPHD, and you can gradual withdrawal sooner than leaving it in SPHD. Or even dump it all into {SPHD or another monthly dividend payer} if that's what you desire, but with a bigger number. + +Sure, in theory, it works that way. But that thinking requires two main things: + +1. You must ignore market downturns where you will not want to withdraw even a single penny. It will be mentally and emotionally draining. You will likely consider going back to work before you'll sell at a 30% loss. (That doesn't sound like fatFIRE to me.) +2. You must ignore any possibility of a middle ground. There's many business owners here, such as myself. I'm prepared that my revenue could decline but not go completely out of business. So it's only making $20K, $10K, or $5K per month now - but in the meantime I amassed a ton of cashflow, so I'm still living extremely well and free... which is the whole premise of fatFIRE. No? + +My chosen fund, SPHD, has paid steady dividends even through coronavirus market turmoil. I will absolutely never sell a single share, so it doesn't bother me that it tanked. The only thing I care about is a steady flow of cash, which the companies comprising the fund deliver consistently, by nature of the index. + +I once read dividend investing was popular among investors until "bull runs taught people the only way to invest was to buy low and sell high". I loved that quote. + +Anyone else think like me? +I'm still driving a 2003 Dodge truck, and a 2010 Volkswagen. I've never been much for the whole status thing, but lately I'm starting to feel like I want to treat myself... and maybe showoff a bit if I'm being honest. Do you all keep it minimal, or go balls out? +Look up different options. College, community college, trade school, military and so on. See what will work best for you. + +Start a fun spending fund and an emergency fund. Even if both are $5 every month. Saving money back early is needed. + +See different health insurance, car insurance, internet providers and so on. See what ones work for you. You are allowed to change them. + +Apply for financial help, even if you don't think you qualify. Too often people do qualify but they think that they don't. + +You don't have to keep buying the newest thing. Look at used items, look at yard sales, thrift shops, second hand stores, etc. Use coupons more often, see when grocery stores have their deals, see what grocery stores are the cheapest in your area, etc. + +See what bills you need and what ones you don't. Do you need your cable bill or can you get a Roku or a similar device? Cutting the cord can be one less bill you have to worry about. Can you get rid of your home phone and just use your cell phone? And so on. + +Learn to cook if you don't know how. Eating out can get expensive. You don't need expensive cooking equipment at first, cheap stuff can work just as well when you're first starting out. + +If you're a student use your student discounts. You can often get discounts for groceries, the movie theater and so on. Places often won't promote the idea of student discounts, so you will often have to research what your student discounts will let you do at different places. If you have certain health insurance that has special benefits and discounts, don't be afraid to use them. + +Libraries offer free entertainment. Use their computers, their DVD's, their CD's and their books. + +Sometimes museums, zoos and the like will have a free day. So keep an eye out for those. Go to the park to take walks, jog, etc. + +You can buy fun inexpensive stuff: Board games tend to cost anywhere from $13 to $20, you can get a dart board for $20-$25. You can get corn hole for $20. A yoga mat for $20 or less. You can buy inexpensive exercise equipment, Cards for $7 or less, etc. Of course, it depends on where you live, some things might be more expensive, but you get the general idea of it, that you can buy fun inexpensive stuff. + +Don't get the first vehicle that seems amazing. Search around, research different prices and from different years. It might not be the brand you want, or from the year you want it to be, but it can still be a good vehicle as long as you take proper care of it. + +Get your own tools. Nothing fancy is needed. Learning how to do simple fixings can help you save money in the long run. +Okay, to start I have to admit that I'm just a lurker ape who has absolutely zero karma. I have zero interest in owning or maintaining a reddit account (and no, I'm not a boomer). However, the shower thought I had seems important enough to share. Shout out to the mods for creating this avenue (superstonk.net) for posting DD without the sufficient karma to post. However, I've proudly owned GME since January (bought my first share at $300, one of us), and I've been able to convert my IRL wife, my best friend, as well as my dad into apes. **APES STRONG TOGETHER**. + +If you want me to have a name in the inevitable event I become a **"guy",** then you can call me Willard (name story: I want to buy a male dachshund fren sometime soon, hopefully with moon tendies, and I will name my sausage fren "Willard", with the nickname "Willy", *\*wink wink\**). + + +##### Okay, back to the main question: + +##### + +# What is Cohen going to do with 2 billion dollars in the bank? + +Looooooooots of speculation everywhere here. Banana piles of great ideas that the great Kong himself (not donkey kong, KING KONG u ape) would be proud of. Some ideas are confirmed to be in the works. E-Sports, NFTs, game studios, more fulfillment centers, corporate acquisitions (lookin' at you, Corsair!), new and improved GameStop "flagship" stores (think like an apple store) in large urban centers (lots of tech support, console demos, retro stuff, merch, you get the point), that would not all fit in a tiny mall GameStop, dedicating arenas for E-Sports or contracts with existing venues/stadiums for large-scale e-sports events (inb4). + +I have no doubt that many if not all of these may come into fruition at some point in time. However, **WHAT** is not as important as **WHEN**. + +So, let's re-phrase this question (sorry for the bait): + + +# WHEN is Cohen going to do with 2 billion dollars in the bank? + +(okay... the sentence syntax doesn't translate exactly, but good enough for apes) + + +##### it's pretty simple: **buy the dip.** + +##### +Cohen is going to buy the dip. + +What dip? + +You know it. I know it. Everybody knows it! + + +## MARKET CRASH!! + +##### We all know it's coming. We've read the DD, I won't get into that here. It's going to be bad. Really bad. Biblical, even. Glorious. May God have mercy on SHF souls, because we won't (infinity pool baby) + +##### +Regarding the crash, I'm aware that there are two main schools of thought (smooth brains get ready): + +1. GME moon will cause the crash +2. Crash will cause GME moon + +from all the DD I've read (almost all of it... you apes have been busy typing away at those typewriters!), especially from u/Criand, the more likely scenario is that option #2 is highly more likely. Let's smoothly assume that this is the case. + + +### Okay... Cohen will buy the dip, when the market crashes. Sounds good. Makes sense! + +### +Yes, makes sense it does (insert yoda.jpq) + +Everything will be on sale: real estate, stocks, crypto (crypto bulls BTFO, should've bought GME), gaming orgs, (not orgies,~~they're~~we're all virgins, good thing our wifes all have boyfriends to take care of that for us). + +Amazon has to sell fulfillment centers? **GameStop: dip bought** + +[Insert gaming org here] went bankrupt? **GameStop: dip bought** + +Apple has to sell flagship stores? **GameStop: dip bought** + +Sports arena defaults on loan? **GameStop: dip bought** + +Stock on gaming hardware in the dumps? **GameStop: dip bought** + +Eee Tee Hache, Bee Tee Cee, crypto on sale? **GameStop: dip bought** + +~~You know what else will be on sale? People.~~ + + + +okay... let's rephrase that before I get cancelled. + + +### A market crash will increase the supply of workers for GameStop to cherry pick. + + +Lots of people will be out of jobs. Good people. Great people. Highly talented tech workers who didn't see the light before. Not just tech, but people from all walks of employment. But specifically tech, because tech is in one hell of a bubble right now, and when it pops, many will jump ship (or get kicked out); also because GameStop is not just transitioning to yet another eCommerce company, but a real tech giant. Patents, baby (by the way... us apes need to keep an eye out for any potential patents that GameStop may or not be filing; someone besides me should look into that). + +GameStop is uniquely positioned to snatch up TONS of great talent at the moment of the crash. News will spread. Cohen wants GME to be the cool place to be. For SHF tears out loud, their job board has a banner of lambo's parked outside of a local GameStop. Baller. Forget Google, forget Amazon, forget [insert tech company here]. GameStop will not only be the best place to shop, but also the best place to work. Those who jump on board early before the squeeze will be rewarded with Infinity Tendies. Those who jump on board post-squeeze will envy them, but will not be left with nothing, as GME grows and grows. Morale will be legendary. Powered by tendies, memes, and a genuine desire to delight it's customer base, GME will be the new Google of the techsphere. Silicon Valley? *pfft.* More like **SILICON DALLAS BABY** (i know that grapevine is not technically in dallas, but it's still in the DFW metro, c'mon) + +[insert AndTHATisDallasKevin.gif] + +Hiring the right talent is important. Great talent combined with a great corporate culture breeds ingenuity, creativity, and success. Cohen knows this. See: Chewy. + + +### **Okay, so Cohen will both buy the dip and hire new talent after the market crashes?** + + +correct... but that's not all. + +Cohen will both buy the dip and hire new talent during / after GME squeezes. + +Let me say it again. + + +### GameStop will be buying the dip like crazy and hiring new talent like crazy DURING / AFTER THE SHORT SQUEEZE. + + +Look here, not there! Classic Art of War. All warfare is deception. Cohen is fighting a battle on many fronts in the financial realm. While GameStop is squeezing, while the news is going bonkers with the ticker price, while the news is spreading FUD about the market crash, GameStop will be moving in the shadows buying up property, making deals, hiring baller talent; **buying the dip.** + +**FROM THE MOUTH OF RYAN COHEN:** (June 9th shareholder's meeting) + + +### " We know some people want us to lay out a whole detailed plan today, but that’s not gonna happen. You won’t find us talking a big game, making a bunch of lofty promises, or telegraphing our strategy to the competition... Moving forward, we want you to judge GameStop based on our actions, not our words. Thank you everyone, and as my dad would say, “buckle up.” " + + +Power the the Players. + +--- + +***This is not financial advice!*** +*This post was **anonymously** submitted via **[www.superstonk.net](https://www.superstonk.net/)** and reviewed by our team. +Submitted posts are unedited and published as long as they follow r/Superstonk rules.* +IM DELETING YOU, YELLEN!😭👋 + +██]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]] 10% complete..... + +████]]]]]]]]]]]]]]]]]]]]]]]]]]] 35% complete.... + +███████]]]]]]]]]]]]]]]] 60% complete.... + +███████████] 99% complete..... + +🚫ERROR!🚫 💯True💯 Fed Chairs are irreplaceable 💖I could never delete you Yellen!💖 Send this to ten other 👪Technocrats👪 who give you 💦price stability, maximum employment, and moderate long-term interest rates💦 Or never have a ☁️stable economy☁️ again❌❌😬😬❌❌ If you get 0 Back: a deflationary spiral is in your future 📉🌀🚫🚫👿 3 back: you will meet your inflation and employment targets🎯☁️💦 5 back: your economy will be insulated from aggregate demand shocks⚡️👼💦 10+ back: Yellen🤑🤑💕💕📈📈 +https://np.reddit.com/r/Bitcoin/comments/1r88vl/need_advice_on_inheritance_arbitrage_family_etc/ + +Need advice on inheritance, arbitrage, family, etc. Please, I am becoming desperate. + +>The Bitcoin boom has been wonderful for some people, obviously, but I am really struggling. Last year my father passed away (my mother passed away from cancer many years ago), and my sister and I were left with a large inheritance. I am 23 and my sister is only 17 (parents had us when they were somewhat older. The inheritance was placed entirely in my control to be split between my sister and I. He did not want her to have access to the money until she turned 21. I am tasked with assisting her with college payments, etc. I chose to liquidate the majority of the assets and was left with around $750,000. I am bitter about this because I was ripped off by a shifty individual taking advantage of my ignorance on some things. I should have gotten much more than I did. + +>I discovered Bitcoin a few years ago. I today greatly regret that the moment I liquidated the inheritance I didn't place the entirety of it into Bitcoin. With Bitcoin on the verge of making it very, very big I began performing arbitrage six months ago. The rising adoption has created volatility which makes it very good for arbitrage. I know of people that have made A LOT of money doing this, but I have now lost A LOT of money. + +>I am consistently misjudging the movement of the markets. I buy in and sell, not holding any long term positions. On the 19th, I bought 250 coins at $800; it was quickly rising and I was worried I would not be able to buy in at that price ever again. Immediately after my purchase it began tanking. I tried to hold my position hoping it was just temporary and would return to $800 and increase from there. After hitting around $600 it began to increase again, I viewed this as reaffirming my projection. It rose again to around $700. I held my position into the 20th, it dropped to $500 and that was my sell point hoping to minimize my losses. I lost $75,000 in an almost 24/hr period. This was my fastest and almost largest single trade loss. If I had continued to hold I would be able to sell right now with minimal losses. + +>I have "made" money on trades, but overall the losses have kept me in the red. As of today, over the past 7 months I have lost a total of $410,000. The inheritance was supposed to be split between my younger sister and I, giving us each $375,00 + half of the house (not worth much, rural area, etc). +However, I don't have a legal obligation to provide her with half of the money, that was a verbal contract between my father and I, the in-writing legal stuff allocates it all to me. I made the mistake of telling her that I invested the money in Bitcoin; she has read the news etc on it, so she is under the assumption that there is a lot more money than there actually is. Regardless, I have already paid her first year of college tuition in cash anyway, this was around $30,000. I also bought her a used car to take to college ($5,000). We later found out they don't want freshman to have cars?? So we might sell it and I can give her that money. Ultimately, in addition to other living expenses, bills, car, etc I have around $280,000 left which is currently all liquid. +Now, if you took the time to read all of that, thank you, sorry it was so long. What I am looking for is advice on how to trade. How can I guarantee that I earn high returns? What are good resources on how to trade Bitcoin? Are there any good books to read on trading? General information I may be missing? + +>I know I can earn this money back, I just need to figure out how. If there is an experienced trader out there that is in need for funding I am willing to work out a deal where we can work together on this. I need to see a proven track record of success though. +Thanks for your time. I know a lot of people are going to respond negatively to me, I know I fucked up. I really, really, need advice though so please don't downvote me just because I am an idiot. +Stephen Tual was one of the main designers behind The DAO in 2016. He sent an email last week to ethereum London meet-up that he is stepping down from running the meet-up and will be leaving ethereum for good. + +*“I cannot, in good conscience, continue to act like 'all is well' in Web3. As of August 15th, 2022, the 'blockchain' (or should I use the hedge-fund coined terminology 'distributed ledger'?) has turned into a circus of centralized NFTs, endless Ponzi schemes, illegal securities or turncoat sycophants pledging loyalty to the nearest regulator. I do not recognize myself in that space, not even one bit.”* + +He also posted a separate open letter lamenting how the concept of DAO itself has been turned into centralized pump and dump ICOs. + +*“A DAO is NOT an ICO where the creators "keep a cut" and generate 'artificial scarcity' to "pump and dump" while members are made to "hodl" - however, I'm sad to report it's what most have now become while continuing to use the terminology, just like a blockchain running on a single computer is no blockchain at all, or an NFT hosted on Amazon S3 is in no way decentralized in the least.”* + +He noted in the [open letter](https://np.reddit.com/user/Ursium/comments/wp561e/explaining_the_dao_one_last_time_an_open_letter/) that the DAO failure was caused by flaw in the ethereum programming language solidity leading to what's known as a re-entrancy attack exploiting recursive calling vulnerability. Re-entrancy attacks happen pretty frequently in ethereum and has led to cumulative losses of more then $4 billion over the last 5 years. +I live in Texas. I have a College Access Loan (private loan) totaling $68,305.15 (including accrued interest) at an interest rate of 5.25%. + +I also have a few Stafford loans detailed below (please forgive the poor formatting): + +Subsidized $10,313.00 3.4% +Subsidized $5,500.00 3.86% +Subsidized $765.00 4.5% +Unsubsidized $2,000.00 3.86% +Unsubsidized $7,672.00 6.8% + +The above Stafford loans have accrued $1,465.46 in interest which comes out to a total of $27,715.46. + +I have six months from now to start paying back these loans. + +I got very lucky and I just landed a job where I'll be making about $60,000 a year (plus yearly bonuses). I start working at this company in June. +I'll be paying about $1,000 every month for rent, but since I have not yet moved to my new apartment, I cannot accurately calculate the rest of my monthly expenses (utilities, food, gas, internet, cell phone bill, etc.) + +I guess the first thing I should ask is: Is there any way to forgive any of these loans? I am not sure if this will help or is relevant at all, but I am a child of a deceased Air Force veteran. + +Second, what is the best approach I should take to get rid of this debt ASAP? +My wife has been interested in horses pretty much since I've known her but she has never been a horse owner due to financial reasons (man are these expensive!). + +If you've ever looked into it, it's not really the cost of buying the horse that is expensive. The true cost of owning a horse comes from the regular cost of boarding it, feeding it, and all the other stuff that you need to do to keep it healthy. + +I have always had aspirations of getting her a horse but it's never been in the cards due to financial hurdles. Having said that, I finally found myself in a position where I am financially well off enough to afford a horse... maybe. Neither one of us has ever owned a horse before and I have a sneaking suspicion that we may not be considering all the things we may need to be. + +She takes lessons regularly and has many friends who do own horses but, like with every other hobby I've been involved with, there are always hidden costs that creep up. I don't know what hidden costs there may be and I'd like to ask some people who already own horses what it is actually like. + +Here is a breakdown of what I am anticipating per month based on information from the barn she rides at: + +* Board + Feed + Lessons: $650 +* Shoeing: $80 ($120/6-8 weeks) +* Fecal Dewormer: ~$4 ($20-40/year) +* Dental: ~$6 ($70/year) +* Vet Fees (yearly checkup and shots): ~$17 ($200/year) +* Total: ~$757/month + +I think these numbers are about right because they're coming directly from the barn owner that the horse is currently located at (and currently paying for). That said, I obviously have no frame of reference and Google is not the best source for this kind of information. In addition, I'm uncertain about hidden costs and other considerations we haven't made like: + +* Is horse health insurance worth it? When is it worth it to just self-insure? +* Can we rent trucks with horse trailers or do we have to buy? +* Other stuff? I honestly don't know. + +#TLDR: My wife wants a horse. How much does it cost? What are the non-obvious things I need to consider? + +Edit: +Wow, I didn't expect this to blow up nearly as much as it did!  + +Thank you to everyone that spent the time to write a response. Your responses have been very eye-opening.  + +It seems there were a couple of common questions. I'll try and answer some of them below: + +* The amount listed for board includes the indoor stall, food, lessons, and all cleaning/etc. I'm told she wouldn't have to do anything with regards to the stall/feeding/etc. +* The horse is a female Morgan in her early teens.  +* As far as health concerns go, the horse has a club foot and certain skin allergies. I'm told the club foot issue sounds worse than it is and the horse rides like she doesn't have one. I'm not 100% sure how bad the skin allergies are but apparently "it's under control now and there haven't been any recent flareups."  +* My wife is an experienced rider. She has been riding horses for close to twenty years now but she hasn't owned her own before. Most of her knowledge of the ownership experience is secondhand through close friends who have owned horses for a long time. +* My wife has been riding the horse in question for close to two years now. They ride in the dressage style. +* The barn has an indoor, heated, area for riding connected to the stables in addition to the one outside.  +* My wife is interested in showing but would primarily be showing at the barn the horse is kept at (but there's no doubt in my mind she would want to expand on this).  +* When I was asking about insurance, I was thinking of health insurance like you'd get on a pet - not life insurance.  + +For those of you who have made the comparison to a boat, that hit a nerve. Thank you for making the comparison! I don't own a boat but I have many friends who do. They introduced me to the BOAT acronym (**B**ring **O**ut **A**nother **T**housand) and it sounds like that also applies here too. + +Regarding the current owner, we don't think that her trainer is trying to pull a fast one or anything like that. Frankly, she has been absolutely amazing. We think she is just attached to the horse and would prefer to keep her (the horse) at the barn with a rider she's familiar/friendly with.  + +I've seen a lot of recommendations to lease or seek a lease instead. I think that is the best option here too. My wife and I have spoken about this in the past but we haven't done much research on it because up until today this horse has pretty much been a free lease for her where she only pays for lessons. My wife has been the primary rider for the last two years with only one other rider riding the horse for a brief stint (~~just a few weeks~~). Edit: I was incorrect. The other rider is now a regular rider of this horse too. + +The only reason why we're even discussing "adopting" this horse is because the trainer sent us a message this morning mentioning that she had a potential buyer coming down to look at the horse soon. She has mentioned that she would be willing to give the horse away to my wife for free several times over the last two years because they've built such a strong relationship (this applies both to the horse and the trainer herself). + +That being said, I agree with most posters out here that this is a bit more than we bargained for (even for a "free" horse). We are going to approach the current owner to see if leasing is an option. If it isn't, we'll bide our time and try to find a the right lease with the right horse/owner. + +Again, thank you all for your replies. It is very much appreciated! +We recently became 2 million in here and with the latest news and adoptions and projects around, I expect a lot more to come. + + +Some here have a lot of knowledge, some have lessser. I think it's our duty to help the ones who have none at all and are willing to learn. + +So, without further ado, + + +&nbsp; + + + + + +# What is crypto? + +Cryptocurrency is a digital payment system that doesn't rely on banks to verify transactions. It's a peer-to-peer system that can enable anyone anywhere to send and receive payments. Instead of being physical money that is carried around and exchanged in the real world, cryptocurrency payments exist purely as digital entries to an online database that describe specific transactions. When you transfer cryptocurrency funds, the transactions are recorded in a public ledger. You store your cryptocurrency in a digital wallet. + +&#x200B; + +&#x200B; + +# What is the Blockchain? + + Cryptocurrencies work using a technology called blockchain. Blockchain is a decentralized technology spread across many computers that manages and records transactions. Part of the appeal of this technology is its security. + +A blockchain is essentially a digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain. Each block in the chain contains a number of transactions, and every time a new transaction occurs on the blockchain, a record of that transaction is added to every participant’s ledger. The decentralised database managed by multiple participants is known as Distributed Ledger Technology (DLT). + +&#x200B; + +&#x200B; + +# How to trade Crypto + +&#x200B; + +**1. Make an account on a crypto exchange.** + +To choose the best exchange for your needs, it is important to fully understand the types of exchanges. There are two types of exchanges: + + + +**Centralized Exchange** + +The first and most common type of exchange is the centralized exchange. Popular exchanges that fall into this category are Coinbase, Binance, Kraken, and Gemini. These exchanges are private companies that offer platforms to trade cryptocurrency. These exchanges require registration and identification, also known as the Know Your Customer or Know Your Client(KYC) rule. + +centralized exchanges are not in line with the philosophy of Bitcoin. They run on their own private servers which creates a vector of attack. If the servers of the company were to be compromised, the whole system could be shut down for some time. Worse, sensitive data about its users could be released. + +The larger, more popular centralized exchanges are by far the easiest on-ramp for new users and they even provide some level of insurance should their systems fail. While this is true, when cryptocurrency is purchased on these exchanges it is stored within their custodial wallets and not in your own wallet that you own the keys to. The insurance that is provided is only applicable if the exchange is at fault. Should your computer and your Coinbase account, for example, become compromised, your funds would be lost and you would not likely have the ability to claim insurance. This is why it is important to withdraw any large sums and practice safe storage. + +&#x200B; + +**Decentralized Exchange** + +Decentralized exchanges work in the same manner that Bitcoin does. A decentralized exchange has no central point of control. Instead, think of it as a server, except that each computer within the server is spread out across the world and each computer that makes up one part of that server is controlled by an individual. If one of these computers turns off, it has no effect on the network as a whole because there are plenty of other computers that will continue running the network. + +This is drastically different from one company controlling a server in a single location. Attacking something that is spread out and decentralized in this manner is significantly more difficult, making any such attacks unrealistic and likely unsuccessful. + +Due to this decentralization, these types of exchanges cannot be subject to the rules of any regulatory body, as there is no specific person or group running the system. The individuals who participate come and go, so there is no one individual or group that a government or regulatory body can realistically pursue. This means that those trading on the platform do not have to declare their identification and are free to use the platform in any manner they choose, whether legal or not. + +&#x200B; + +Best crypto exchanges as of 2021 ^((according to investopedia)) + +* Best overall: Coinbase & Coinbase Pro +* Best for Altcoins: Binance +* Best for Decentralised Exchange: Bisq + +&#x200B; + +**2. Pick a crypto to invest in** + +How? Easy, one might say - just Do Your Own Research(**DYOR**), because no one here is a financial advisor! + +&#x200B; + +Things to look at when researching: + +* The Community +* Fundamental Analysis +* The Team +* The Technology +* The White Paper +* Their Vision +* Their Leadership +* Pricing History +* Credibility & Reputation +* Roadmap + +&#x200B; + +**3. Choose a strategy** + +A. Buy and hold(**HODL**) + + “Buy and hold” is a passive investment strategy where traders buy an asset intending to hold it for a long time, regardless of market fluctuations. + +This strategy is typically used in long-term investment portfolios, where the idea is simply to get in the market without any regard for timing. The idea behind this strategy is that on a long enough time frame, the timing or entry price won’t matter much. + +&#x200B; + +B. Dollar Cost Averaging(**DCA**) + + Dollar cost averaging is a popular and well-tested trading strategy that works best when done over longer periods of time. The concept is simple. Instead of investing all your money in a particular cryptocurrency at once you divide it into small amounts, choose a particular time and day of the week and only buy at those times. + +[DivineEu - What is DollarCostAveraging?](https://www.reddit.com/r/CryptoCurrency/comments/llsxv7/dca_what_is_dollar_cost_averaging_why_you_should/) + +&#x200B; + +C. Day trading + + Day trading might be the most well-known active trading strategy. It’s a common misconception to think that all active traders are by definition day traders, but that isn’t true. + +Day trading involves entering and exiting positions on the same day. As such, day traders aim to capitalize on intraday price movements, i.e., price moves that happen within one trading day. + +&#x200B; + +D. Swing trading + + Swing trading is a type of longer-term trading strategy that involves holding positions for longer than a day but typically not longer than a few weeks or a month. In some ways, swing trading sits in the middle between day trading and trend trading. + +Swing traders generally try to take advantage of waves of volatility that take several days or weeks to play out. Swing traders may use a combination of technical and fundamental factors to formulate their trade ideas. Naturally, fundamental changes may take a longer time to play out, and this is where fundamental analysis comes into play. Even so, chart patterns and technical indicators can also play a major part in a swing trading strategy. + +&#x200B; + +E. Trend trading + + Sometimes also referred to as position trading, trend trading is a strategy that involves holding positions for a longer period of time, typically at least a few months. As the name would suggest, trend traders try to take advantage of directional trends. Trend traders may enter a long position in an uptrend and a short position in a downtrend. + +Trend traders will typically use fundamental analysis, but this may not always be the case. Even so, fundamental analysis considers events that may take a long time to play out – and these are the moves that trend traders try to take advantage of. + +&#x200B; + +F. Scalping + + Scalping is one of the quickest trading strategies out there. Scalpers don’t try to take advantage of big moves or drawn-out trends. It’s a strategy that focuses on exploiting small moves over and over again. For example, profiting off of bid-ask spreads, gaps in liquidity, or other inefficiencies in the market. + +Scalpers don’t aim to hold their positions for a long time. It’s quite common to see scalp traders opening and closing positions in a matter of seconds. This is why scalping is often related to High-Frequency Trading (HFT). + +&#x200B; + +G. YOLO + +This one is self-explanatory. + +&#x200B; + +**4. Store your cryptocurrency** + + The main purpose of the creation of Bitcoin as a decentralized currency was to give the masses the power to control and manage their own money. + +First off, digital wallets are quite different as compared to your physical wallet. Instead of storing money, digital wallets store private and public keys. + +Private keys are like your PIN number to access your bank account, while public keys are similar to your bank account number. When you send Bitcoin, you’re sending VALUE in the form of a transaction, transferring the ownership of your coin to the recipient. + + Ownership of your private keys gives you total control over the funds associated with your corresponding public keys. That’s why it is vital to make sure you keep your private keys secretly hidden so that ONLY YOU know your private keys. + +If any other person gets hold of your private keys, they will have control over your coins. It is also equally important to have a back-up of your private keys, so as to protect yourself from accidental loss. + +You'd also lose your funds if you cannot recover your lost private keys. + +[Weaver96's wallet guide](https://www.reddit.com/r/CryptoCurrency/comments/lkkm0v/a_beginners_guide_to_cryptocurrency_wallets/) | [good-as-hellx's wallet guide](https://www.reddit.com/r/CryptoCurrency/comments/ld42yc/cryptowallets_which_one_should_you_use/) + +&#x200B; + +# Crypto Apps + +Given the fact that we are facing an influx of fake applications meant to stole people's private keys/personal info and what not, I felt the need to add this too: + +&#x200B; + +*adding after mods review* + +&#x200B; + + + +&#x200B; + +# Scams + +[UrMuMGaEe - All the hacks, scams and stuff you should be aware off!](https://www.reddit.com/r/CryptoCurrency/comments/m9maxp/all_the_hacksscams_and_stuff_you_should_be_aware/) + +&#x200B; + +⚠️ Active scams: + +* [Pump and dumps](https://www.reddit.com/r/CryptoCurrency/comments/l9no5k/warning_pump_and_dump_scams_going_around_read/) +* [Coinbase Airdrop Scam](https://www.reddit.com/r/CryptoCurrency/comments/mdm66w/scammers_are_active_on_reddit_do_not_fall_for_the/) +* [Elon Musk Twitter Bitcoin Giveaway](https://www.reddit.com/r/CryptoCurrency/comments/m9n8kn/beware_elon_musk_bitcoin_giveaway_scam_costs_this/) +* [Yellow Star Investment / Richert Funding](https://www.reddit.com/r/CryptoCurrency/comments/lx6zgs/beware_of_crypto_scam_beware_yellow_star/) + +&#x200B; + +&#x200B; + +# Earn + +**Aidrops** + + Who doesn't like airdrops? An airdrop, in the cryptocurrency business, is a marketing stunt that involves sending coins or tokens to wallet addresses in order to promote awareness of a new virtual currency. Small amounts of the new virtual currency are sent to the wallets of active members of the blockchain community for free or in return for a small service, such as retweeting a post sent by the company issuing the currency. + +&#x200B; + +**Faucets** + + A crypto faucet is an app or a website that distributes small amounts of cryptocurrencies as a reward for completing easy tasks. They’re given the name “faucets'' because the rewards are small, just like small drops of water dripping from a leaky faucet. + +[Try Nano faucet](https://nano-faucet.org) + +&#x200B; + +[**Coinbase Earn**](https://www.coinbase.com/earn) + +* Watch videos - We've created educational videos to teach you about different cryptocurrencies. +* Complete a quiz - After each video you'll receive a simple quiz testing what you've learned. +* Earn - You'll receive crypto in your Coinbase wallet for every quiz you complete. + +&#x200B; + +**Staking** + + Staking is the process of actively participating in transaction validation (similar to mining) on a proof-of-stake (PoS) blockchain. On these blockchains, anyone with a minimum-required balance of a specific cryptocurrency can validate transactions and earn Staking rewards. + +[icysx - Ultimate Staking Guide 2021](https://www.reddit.com/r/CryptoCurrency/comments/lwun4f/ultimate_staking_guide_2021_overview_of_best/) + +&#x200B; + +**On-Chain Governance** + + On-chain governance is a system for managing and implementing changes to cryptocurrency blockchains. In this type of governance, rules for instituting changes are encoded into the blockchain protocol. Developers propose changes through code updates and each node votes on whether to accept or reject the proposed change. + +Stakeholders in the process are provided economic incentives to participate. For example, each node can earn a cut of overall transaction fees for voting, while developers are rewarded through alternate funding mechanisms. + +&#x200B; + +&#x200B; + +# Great topics + +* [Gagbra - CryptoTerms Guide](https://www.reddit.com/r/CryptoCurrency/comments/lsb7jf/crypto_lingo_guide/) +* [Alliswell119 - A Beginner's Guide to Market Cap, Volume & Supply](https://www.reddit.com/r/CryptoCurrency/comments/lkwz2r/a_beginners_guide_to_market_cap_volume_supply/) +* [A beginner's guide to limit orders, stop orders and stop limit orders](https://www.reddit.com/r/CryptoCurrency/comments/lolbo6/a_beginners_guide_to_limit_orders_stop_orders_and/) +* [Meme\_Pope - Surviving in a Bear Market](https://www.reddit.com/r/CryptoCurrency/comments/m6k33z/how_to_survive_the_next_bear_market/) +* [steavus - Country regulations](https://www.reddit.com/r/CryptoCurrency/comments/m7pd7j/a_list_of_43_countrys_and_their_cryptocurrency/) +* [GroundbreakingLack78 - A complete List of All The Basic Useful Essentials About CryptoCurrency](https://www.reddit.com/r/CryptoCurrency/comments/m20cyd/a_complete_list_of_all_the_basic_useful/) +* [DivineEu - Everything you need to know about MOONS](https://www.reddit.com/r/CryptoCurrency/comments/mcuuu0/happy_moon_distribution_day_here_are_all_my_4/) +* [Fantastic-Cucumber-1 - What is DeFI](https://www.reddit.com/r/CryptoCurrency/comments/mctn4r/defi_explained_what_is_defi/) +* [Fantastic-Cucumber-1 - DeFI Wallets](https://www.reddit.com/r/CryptoCurrency/comments/mdjsrj/defi_explained_defi_wallets/) +* [Fantastic-Cucumber-1 - NFT](https://www.reddit.com/r/CryptoCurrency/comments/mexb51/defi_explained_nfts/) +* [Fantastic-Cucumber-1 - Smart contracts](https://www.reddit.com/r/CryptoCurrency/comments/me9p7h/defi_explained_smart_contracts/) + +&#x200B; + +# Useful links +* [Christopher - Simple crypto guide](https://simplecryptoguide.com/) + +&#x200B; + +My main goal was to resume everything in one post while providing a neutral point of view, to make it easier for new people. Thanks to everyone who contributed to this post and this community. + +&#x200B; + +For any suggestions and questions related to this post feel free to DM me anytime. + +&#x200B; + +*I intend to update this post in the future based on feedback and further research*. +I've been living a financially responsible life for the past 1 year. Not incurring debt, saving for emergency, living below my income, investing for retirement and of course living by a budget. I'm not crazy frugal but I've became more of a saver than a spender and it's been great. (With much help from the people at r/personalfinance) + +However, it seems like great portion of modern economy hinges on the fact that the people over spend. At least from my narrow point of view, most of the things they advertise on TV and things that see at retail stores are mostly luxuries that no one needs. + +This got me thinking. What would happen if EVERYONE (including the wealthy and the poor) in the world suddenly stopped over spending, lived under their means, saved and invested like they advocate at r/personalfinance? + +* Would the world be less or more productive (lower or higher GDP)? +* What industry will fall first and which industries will cease to exist? +* Would the wealthy and poverty gap narrow? +* Would the world economy crumble? + +Let me know your thoughts. + +Thanks. + +ps. [Same question posted at r/personalfinance](http://www.reddit.com/r/personalfinance/comments/18ntpx/what_would_happen_if_everyone_in_the_world/) + +TL;DR: If everyone in the world suddenly became financially literate and responsible, would the world economy crumble? +[https://www.yahoo.com/news/things-only-worse-putins-war-113944816.html](https://www.yahoo.com/news/things-only-worse-putins-war-113944816.html) + +NY Times article via Yahoo says it's one of the largest exoduses ever from a nation not under military attack. Russians quoted making comparisons to those who left after the Bolshevik revolution - that it was better to get out early rather than risk one day ending up in camps. + +Russians leaving to anywhere they can get to by land (e.g. the Baltics, Finland, etc) if they have the right visa, and if not, taking flights via countries still accepting flights from Russia - the big one is Turkey, but also the former Soviet republics (Georgia, Kazakhstan, et al). + +Here's a video from a Russian Youtuber who just left for Uzbekistan: + +[https://www.youtube.com/watch?v=M6fZ3HgYwWI](https://www.youtube.com/watch?v=M6fZ3HgYwWI) + +A lot of those former Soviet republics aren't particularly great places, but, I suppose, any port in a storm. + +Folks with skills and get-up-and-go will make massive contributions to the countries wherein they ultimately settle. One of the founders of Google is a Russian emigre. The flip side is Russia is being deprived of the same skills and drive. It's a part of the unfolding disaster for Russia. +Was kinda curious to see how you guys have your portfolio structured. I'm pretty old school and like to stick to mainly blue chips. + +Though I own 13, over 90% of my portfolio is in BTC and ETH. I'm not saying this is optimal, just how comfortable I am after doing my own DD. I'm mainly in smart contract tokens and am adding new positions slowly. + +This is where I'm at. + +&#x200B; + +[My Portfolio Allocation](https://preview.redd.it/2mnkal8wko771.png?width=755&format=png&auto=webp&s=313fd2de05913dce72c307ec6087c4700de788c8) + +Here are the coins not pictured: + +&#x200B; + +[My \\"others\\"](https://preview.redd.it/hfrpef93lo771.png?width=237&format=png&auto=webp&s=ceb096e6c4f1270124335589c82c864650b92f9b) + +So much other stuff I want to add but I'm slowly DCA'ing in. + +How about you guys? +**Maxine Waters (D-CA), Committee Chair:** + +[https://www.opensecrets.org/members-of-congress/maxine-waters/contributors?cid=N00006690&cycle=2020](https://www.opensecrets.org/members-of-congress/maxine-waters/contributors?cid=N00006690&cycle=2020) + +&#x200B; + +|1|[Paul, Weiss et al](https://www.opensecrets.org/orgs/recipients?id=D000000769&cycle=2020)|$107,200| +|:-|:-|:-| +|2|[Votesane PAC](https://www.opensecrets.org/orgs/recipients?id=D000065181&cycle=2020)|$72,000| +|3|[Apollo Global Management](https://www.opensecrets.org/orgs/recipients?id=D000021845&cycle=2020)|$23,805| +|4|[Rock Holdings](https://www.opensecrets.org/orgs/recipients?id=D000066716&cycle=2020)|$21,300| +|5|[Service Employees International Union](https://www.opensecrets.org/orgs/recipients?id=D000000077&cycle=2020)|$20,000| +|6|Law Office of Eric M Kamerath|$16,400| +|7|Entertainment Studios|$14,000| +|8|[BlackRock Inc](https://www.opensecrets.org/orgs/recipients?id=D000021872&cycle=2020)|$13,800| +|9|[Credit Union National Assn ](https://www.opensecrets.org/orgs/recipients?id=D000000136&cycle=2020)|$11,350| +|10|[Democratic National Cmte (Employees)](https://www.opensecrets.org/orgs/recipients?id=D000050088&cycle=2020)|$11,200| +|11|[National Assn of Realtors](https://www.opensecrets.org/orgs/recipients?id=D000000062&cycle=2020)|$10,500| +|12|[Boeing Co](https://www.opensecrets.org/orgs/recipients?id=D000000100&cycle=2020)|$10,145| +|13|[Deloitte LLP](https://www.opensecrets.org/orgs/recipients?id=D000000131&cycle=2020)|$10,040| +|14|[Depository Trust & Clearing Corp](https://www.opensecrets.org/orgs/recipients?id=D000050099&cycle=2020)|$10,000| +|15|[Independent Community Bankers of America](https://www.opensecrets.org/orgs/recipients?id=D000000261&cycle=2020)|$10,000| + +**Patrick McHenry (R-NC), Ranking Member:** + +[https://www.opensecrets.org/members-of-congress/patrick-mchenry/contributors?cid=N00026627&cycle=2020](https://www.opensecrets.org/members-of-congress/patrick-mchenry/contributors?cid=N00026627&cycle=2020) + +&#x200B; + +|1|[Votesane PAC](https://www.opensecrets.org/orgs/recipients?id=D000065181&cycle=2020)|$86,500| +|:-|:-|:-| +|2|[Signature Bank](https://www.opensecrets.org/orgs/recipients?id=D000063405&cycle=2020)|$55,550| +|3|[Blackstone Group](https://www.opensecrets.org/orgs/recipients?id=D000021873&cycle=2020)|$30,600| +|4|[FMR Corp](https://www.opensecrets.org/orgs/recipients?id=D000021987&cycle=2020)|$29,200| +|5|[Live Oak Bank](https://www.opensecrets.org/orgs/recipients?id=D000070990&cycle=2020)|$25,300| +|6|[Paul, Weiss et al](https://www.opensecrets.org/orgs/recipients?id=D000000769&cycle=2020)|$24,350| +|7|[Rock Holdings](https://www.opensecrets.org/orgs/recipients?id=D000066716&cycle=2020)|$21,200| +|8|[Truist Financial](https://www.opensecrets.org/orgs/recipients?id=D000072145&cycle=2020)|$20,525| +|9|[USAA](https://www.opensecrets.org/orgs/recipients?id=D000029616&cycle=2020)|$20,500| +|10|[Wells Fargo](https://www.opensecrets.org/orgs/recipients?id=D000019743&cycle=2020)|$18,800| +|11|[Goldman Sachs](https://www.opensecrets.org/orgs/recipients?id=D000000085&cycle=2020)|$18,400| +|12|[Apollo Global Management](https://www.opensecrets.org/orgs/recipients?id=D000021845&cycle=2020)|$17,600| +|13|[Charles Schwab Corp](https://www.opensecrets.org/orgs/recipients?id=D000000414&cycle=2020)|$16,600| +|14|[MacAndrews & Forbes](https://www.opensecrets.org/orgs/recipients?id=D000000245&cycle=2020)|$16,600| +|15|[Capital Group Companies](https://www.opensecrets.org/orgs/recipients?id=D000021890&cycle=2020)|$15,500| + +&#x200B; + +Overview for House Financial Services Committee: [https://www.opensecrets.org/cong-cmtes/contributors?cmte=HFIN&cmtename=Financial+Services&cong=116&cycle=2020](https://www.opensecrets.org/cong-cmtes/contributors?cmte=HFIN&cmtename=Financial+Services&cong=116&cycle=2020) +Why is no one talking about this!? We've had 9 Green candles on the daily, all having higher closes than the last. I'm not sure when the last time this happened was, but if it has it was before Jan 2021. + +Our price action the last couple weeks from a consistent gains perspective, despite the low starting point, is literally unparalleled in MOASS era. + +Discuss. + +Edit 1: In late August/Early September 2020 GME had 8 consecutive higher closes... Wasn't that when RC first bought in? + +Edit 2: There was another 8 day run in September 2019. + +Edit 3: GME had 9 consecutive higher closes in November 2017, however those were not all green candles on the daily. On the tenth day they fell. + +Edit 4: In April 2016 there was 9 consecutive higher close, all green candles. In March 2016 there was 9 consecutive higher closes. Both fell on the tenth day + +Edit 5: April 2010 saw GME close higher than the previous day for 10 days in a row. Not all closes exceeded opening price though. + +Edit 6: July 2005, 10 consecutive higher closes. + +Edit Final: GME has seen 10 consecutive higher closes twice in it's life, however neither of those times had all closing prices exceed the open (Green candle). If GME closes above $151.95 on Monday with a lower open we will set a record! Should that happen Tuesday (morning) will have the opportunity to be the first ever 11 day run! +I'm starting to think I was wrong about sitting on half cash. But I want to hear what you think. I didn't expect Ukraine to start rolling up Russia so soon. What do you see happening to US stocks in the event of a nearby Russian defeat? +How many of your friends/coworkers/family/acquaintances own crypto? less than 10 people? Out of how many people you know, hundreds?? + +How many of you have bought or traded for anything in REAL life with your crypto? not cashing out but actually spending your crypto? Im guessing almost noone. + +How many companies out there are advertising they are accepting crypto? Less than 1%? + +Of people that have any sort of investments, stocks, retirements, etc, what percentage of THOSE people do you think own crypto? MAYBE 3-4%, and thats generous. + +Outside of random little interesting eye catching headlines about NFT's or cryptokitties or just bitcoin prices how often do you see crypto in mainstream media? Almost never? + +Even when you watch all the financial guru youtubers like Graham Stephan, MeetKevin, or heck even a guy like Ben Shapiro trying to explain bitcoin or blockchain or smart contracts, you can tell they BARELY know what they are talking about, and for the most part know as much as a lot of the noobs here. + +The point is, by almost every metric, crypto is still only adopted by a very very small percentage of the population. Yes, more people have HEARD about it, but hearing about it does not = already invested. + +So even if you feel like a "noob" now, or you might be "late", you couldn't be more wrong. +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. + +[Check out this megathread from r/personalfinance about filing taxes.](https://old.reddit.com/r/personalfinance/comments/kz613i/tax_filing_software_megathread_a_comprehensive/) + +There is a lot of good information there, and we can also discuss this here as well. Some questions that may come up include: + +- Tax Software Recommendations (give detail as to why!) + +- Tax Software Experiences +- Other Tax Filing Tools + +- Experiences with Filing Manually + +- Past Experiences using CPAs or other professionals + +- Tax Filing Tips, Tricks, and Helpful Hints +My wife and I purchased a house that is well within our budget. The house itself is beautiful. The problem is, we maybe should have done more research before biting the bullet and purchasing it - the neighborhood has kind of a bad reputation and while the house is affordable to us, something in the back of my mind keeps making me feel like we overpaid because this is not a "desirable" neighborhood (according to a family member/some friends). + +Now personally, I don't think the neighborhood is bad. My neighbors are really great and I have met all the close ones. I feel safe here walking at night and whatnot. But I guess our city has a "bad reputation". The schools are kind of average/struggling they are rated 6's maybe one is a 7 I think. I knew this when I was buying and compromised on this fact because my wife and I don't have kids yet and aren't planning for another couple years. + +The location to jobs and restaurants is very convenient. However my town itself does not have that many nice restaurants/entertainment options, though the town adjacent to us has all of these options. this "nicer" town is literally less than a mile away that has all the better schools, nightlife, dining, etc. + +What would you do? I was thinking we can 1) stay put for several years until we have a kid in school someday and then decide if we want to move to a better school district... or 2) we should save up right now to sell and move into the neighborhood that we really want asap? + +Or maybe I have just have post-coldfeet or something? I'm not sure if it is normal to feel this way after purchasing a house that we both really wanted really bad. + +tl;dr wife and i purchased house in a neighborhood with "bad rep". should we stick it out for 7-8 years, or save up and move to the better neighborhood asap +Seriously what other internet company has this demographic on lockdown? +Hundreds of millions of them. + +Snapchat has pretty much 0 +Twitter has pretty much 0 +Google+ lol okay + +I for the life of me can't figure out why this is considered a digg +It's one of facebook's most awe inspiring achievements and competitive advantage + + +What are we thinking about this ongoing massacre. Paypal shares dropped quite a bit again today and I just happened to look at the 1 year chart and saw it peaked nearly a year ago in february and is now down around 64 percent from that peak. With the P/E narrowing quite a bit to around 32 today I am considering opening a small position in a bit (or maybe after the first rate hike). + +What do you guys think? Paypal might not see growth again like they have in the past but they are still within a growing sector and I don't see them going anywhere in the near future. +I’ll start by saying that I like my job. It’s challenging without being too stressful, it doesn’t require after-work emails or weekend work, and I get all the benefits (health, dental, vision, 401K). There’s room to move up and I receive regular raises. So in a couple of years I’ll probably be making $40K or more. + +But I can’t help but feel behind financially compared to a lot of people I know who are my age and make a lot more money. I know, I know, I should not compare myself to others, but it’s hard not to sometimes. + +A more real issue would be my future and retirement. I’m never hurting for money right now and I manage to save money quite easily. But I’m unmarried, have no kids, and just live in a studio apartment. Will I be able to afford a house one day? Can I have a comfortable retirement? Basically, am I on an ok track as-is, or do I need to go back to school and get into a career where I make more money? + +EDIT: Many people are asking where I live, which I probably should have covered originally. I live in a rental apartment in St. Paul, Minnesota. I work in the book publishing industry and I have an undergrad degree already (degree is unrelated to my current job.) + +Thank you for your posts, everyone. I’ll try to respond to your posts individually if I have time today. There are a lot of conflicting opinions here, so it’s a lot to think about. I think at the very least I should start looking for other jobs and saving more of my current income in the meantime. +So today, Tesla has risen to $1,500 a share. It was around a month ago that they were trading @ 990 dollars a share. Why do you think this is happening? Is this pure hype from investors who view Elon as something more than a CEO. TSLA isn't even profitable and can be taken out by other car companies, should they make an effective electric car. Are we seeing a bubble swelling before it pops. +Hi Apes, + +This edition of Taste the Rainbow will be the last full weekly update. Moving forward, on the last trading day of the week I will make a very short post that covers the price movement each day against the TtR fib channels. No insights, just tracking the accuracy of the channel. I will continue this until either we break through the top line or the stock dividend occurs and there is something new to discuss. I will get in contact with Zed to make sure all parts of the TtR series are available in the library for easy searching and shortly I will be putting together a TtR video going over how to recreate my chart in TradingView for people unfamiliar with the site. I have thoroughly enjoyed working on this series and developing this idea for the last month and a half, but I believe with this update that every possible path until Moass is planned for so there is nothing left to do but sit back and watch things play out. Thank you to everyone who asked questions and discussed the series. Before we dive in, let’s hear it one last time for the leading lady herself. + +https://preview.redd.it/u43g22yaqmw81.jpg?width=832&format=pjpg&auto=webp&s=aa473ab5865e7e635ac65970bbb4bbb493e0df08 + +# Returning to Basics + +Taste the Rainbow has had a few central ideas + +https://preview.redd.it/mko46useqmw81.png?width=1350&format=png&auto=webp&s=4e8d34ca0644eccab18667a047f27b9fffdb22e0 + +1) The market halts on March 10 (2021), November 3 (2021), and March 29 (2022) all fall on the same line. For the purpose of Taste the Rainbow, this is called the Top Line. This line was also hit on January 27 (2021), the day before the buy button was turned off. I am of the belief that this line is Marge. If it is crossed, shorts get the call. The removal of the buy button and causing the halts were the shorts pulling the emergency brake but this action showed their cards because it allowed us to see that the point where they would need to pull the brake is decreasing at a steady rate. There were three break throughs of the line. On January 28/29 the buy button was turned off and retail would have had no effect on the price movement. On June 8/9 and November 23 the price only briefly passed over the line, possibly too briefly to trigger a margin call. + +https://preview.redd.it/pd6sk50gqmw81.png?width=1350&format=png&auto=webp&s=3526bd923adf1d63ca83efac22016ea439377b5b + +2) There have been support and resistance lines that run parallel to the Top Line. These have been consistent since the buy button was turned off. These lines are related to standard Fibonacci retracement levels. We can put every movement of the GME saga into the context of testing these various levels. Taste the Rainbow has never been a predictive analysis, it can’t tell you what will happen next. It can only help you put into context what is occurring right now based on prior events. + +https://preview.redd.it/t7s88v6hqmw81.png?width=1281&format=png&auto=webp&s=006d6ca115db436cbc38561732422dc0add32dd8 + +3) The downward angle is the manipulation. Because it has so consistently affected the price at all times, the Taste the Rainbow series theorizes that the only way to do this is with high frequency trading computers designed to move the price and that retail has had no effect on price discovery at all. Because of the manipulation, there has grown a belief that “TA doesn’t work”. Because Taste the Rainbow is built on the same angle as the manipulation (a steady decrease of about $0.39 per day), a goal of the series has been to convince readers “TA can work IF you account for the manipulation”. + +# The Truth About Fibbing + +Let’s take a second and talk about Fibonacci retracements. What are these numbers and how are the derived? + +https://preview.redd.it/9kdlcp5kqmw81.png?width=1157&format=png&auto=webp&s=cf3c40f21fdb08c00a236c43c52b04fa4d554d8c + +The Fibonacci (fib) retracement tool can be built between any two points, all you do is set the 0 and the 1. The standard levels in between 0.236, 0.382, 0.500, 0.618, 0.786 will stretch to fit your 0 and 1. In practice, you would make 1 the top of a movement upwards and 0 the bottom or beginning of the move. After that move from 0 to 1, the next move down is its retracement. If you were using the box above and I told you a price retraced to its 0.618, I’m saying the price went from 0 to 100 and then came back down to the .618 area. If you don’t like decimals, you can also express this as a %. 0.618 vs. 61.8%. In trading, prices tend to like these levels between movements. And pretentious douchebags will say “blah blah blah golden ratio blah blah blah found in nature blah blah blah.” And you say, “well wtf you pretentious asshole, I know the Fibonacci sequence, and none of those numbers are in it, so what the fuck is your pretentious ass blithering on about?”. And guess what, you are right! These numbers are NOT in the Fibonacci sequence………..they are between it. (Pause for moment of ahh). + +For those who don’t know it, for the fib sequence you add two numbers to get the next one. + +|1|1|2|3|5|8|13|21|34|55|89|144|233|377|610| +|:-|:-|:-|:-|:-|:-|:-|:-|:-|:-|:-|:-|:-|:-|:-| + + +I’m going to start at 55 and we will keep dividing it by the next number over. + +55 divided by 55 is……1 + +55 divided by 89 is……0.6179 (0.618) + +55 divided by 144 is…….0.3819 (0.382) + +55 divided by 233 is……..0.2360 (nailed it) + +And you say “Tib, you fucking dolt, you arbitrarily chose 55 to fit what you needed”. Well guess what…. It works for any starting point. + +144 divided by 233 is ……..0.6180 + +144 divided by 377 is ……..0.3819 (0.382) + +144 divided by 610 is ……. 0.2360 + +And you say “Ok, ok, point made. But what about .5 and .786?” .5 is not a true level. You could get it if early on you counted 1 divided by 2, but it’s not a reoccurring number. However, 50% (.5) is such a mentally satisfying amount that its treated as a normal fib level. And .786? Well 0.786 is the square root of 0.618. So you can think of it as one interval smaller than the distance between two numbers in the fib sequence. If you want to practice this more, stay above 55. You lose consistency on the small numbers. + +This also works in reverse. If you start dividing in the opposite direction, we call this an extension. This would be a case where the price began moving back upwards beyond 1.000. + +233 divided by 144 is ……… 1.618 + +233 divided by 89 is ……….. 2.618 + +233 divided by 55 is………… 4.236 + +The whole numbers of 2, 3, 4, etc are also considered extension numbers. Same reason as .5, they are mentally satisfying numbers. We can also take the square root of 1.618 to get 1.272 and square root of 2 to get 1.414, these extensions frequently pop up also. I’m going to talk more about extensions later on in relation to the Taste the Rainbow channel. If this was a story, we’d call this section foreshadowing. + +Anywho, if this much has made sense to you, congrats on being smarter than your garden variety pretentious douchebag asshole. If it didn’t, just accept the answer that prices will want to check out these lines and decide if they want to pass through or bounce off. + +For new readers, Taste the Rainbow doesn’t use the normal Fib Retracement tool, it uses the Fib Channel tool. The only difference is that Fib Channel allows you to set the lines on an angle instead of making them horizontal. If you are looking to chart it yourself, the top two pins that you use to set the angle are the top of the daily candle wicks on March 10 (2021) and November 3 (2021). We’ll cover the final third pin in the next section. Another point, because the Top Line is where the chart begins, that makes it 0 and numbers go up as you go levels lower. Opposite of the pic I used to intro fib stuff. + +# Picking up where I left off last update + +(Quick note, this might be a shock, but I deleted most of my Taste the Rainbow channels. You’ll see why in a bit but if you are looking for pics about what I am talking about, you should check out the last couple weeks updates) + +In the last update I talked about The Battle of .382’s. We broke below the bottom one that I was tracking on April 22. We spent almost a day fighting to get back above it but then began dropping. So I flipped on ALL of those previous lines I was tracking and waited to see what we started to catch our footing on. This ended up being the 0.618 of the December 14th channel. Yes, I know there were about 77 lines. The December 14th 0.618 was the ONLY line we were catching on. So to help myself understand this in context I turned on only the December 14th channel as seen below. If you are looking to draw this channel on your chart, you’ll already have the first 2 pins placed from the last section, the final pin you’ll put on the bottom of the December 14th daily candle (not wick). + +https://preview.redd.it/o77ddzo4rmw81.png?width=1350&format=png&auto=webp&s=4cefb43f561fd3a962d4cf1671134d5edcdaee68 + +This channel SHOULD (key word) have begun on December 14th. And we can see the price respected the various fib levels. Box 1 we ride right up against the .786 line for about 2 weeks, then came down and rode the 1 line for a bit. Box 2 was the Battle of .382’s but in this context it’s the price bouncing between the .5 and .382 line. If reddit didn’t have a 20 picture limit on posts I could show even more reactions to lines on smaller candles during the rip in late March, but I need every pic for this post. However, there is the issue of when the price dipped below the 1.000 line (grey). If only I had some way of going past 1….some way to extend the channel……oh snap. + +https://preview.redd.it/pv1ipky5rmw81.png?width=1350&format=png&auto=webp&s=43dfbd35093e4e87e07039b31fdca08d74ca9b30 + +To recap, we land a daily candle on the 1.000 line on December 14. We spent box 1 testing the .786 and 1.000 lines before falling below to a lower extension (1.272). We make that ABC bump where we go up but bounce on the extension again. And then 120 days after first tapping the Top Line on November 22, we are back at the 1.000 on March 22 beginning a run to the Top Line again. The fact that this channel fit the data so neatly led me to consider a few things. + +1) The previous channels I was tracking based on various lows, instead of adding more channels I should try adding more extensions. + +2) If there are not multiple channels, if everything is based on this channel, then the Battle of .382’s was just movement between the .5 and .382 lines. + +3) We spent time on this relative level for most of last summer and year, were there similarities? + +# Last June + +Yeah………there’s some similarities. + +https://preview.redd.it/2fo4eus8rmw81.png?width=1350&format=png&auto=webp&s=108cf67a53152b5634ba1ecca39494c706f9df76 + +We land a daily on the 1.000 line on June 21. At which point we are already testing the .786 and 1.000 lines before falling below to a new lower extension (1.414). We make that ABC bump to bounce up but come back to the same extension again. AND FUCKING THEN 120 days after first tapping the Top Line on June 8, we are back at the 1.000 on October 6 beginning a run to the Top Line again. + +Now was the October move upwards slower than March move? Absolutely. But the distance between the Top Line (0) and 1.000 line is a constant. According to Taste the Rainbow, that move is the same distance. + +Now I know what your thinking, “Tibs……..did the 120 days thing ever happen before that?” And just like how my high school band teacher use to say “Once is luck, twice is skill, and three times is harassment”. This is pretty fucking close to harassment. + +https://preview.redd.it/dj90h6jbrmw81.png?width=1350&format=png&auto=webp&s=25e9774fbc696e8ab895cd69f8cb9b745bcc630e + +On Jan 27 we have our first tap of the Top Line ever and 119 days later on May 26 we are back at the 1.000 line on May 26 beginning a run to the Top Line again. Obviously there were more differences in this first 119 days than the latter two, but that’s 3 times in a row of going from the same relative peak (Top Line) to ending up at the same fib level in roughly the same amount of time that leads to a return to the Top Line again. So for all of you degens salivating while you count on your fingers and toes what the date would be 120 days after March 29………July 27th and the 1.000 line would be about $53.50. I say this echoing again that Taste the Rainbow should not be taken as trading advice and is only designed to put current movements in context of historical movements. + +Looking forward, I’ll be using the Taste the Rainbow channel to see if we begin repeating similar movements again. However, those are the only occurrences of the 119/120 between peak to 1.000 line pattern that we have seen so far. Through much of Spring 2021 and before we were spending time below the 1.000 line. This leads me to the next section, cause we gotta go down a long, long, LONG path of every extension. + +# An Extensive and Exhaustive List of Extensions + +TradingView has the first 24 retracement and extensions already set when you draw a fib channel. Many will remain invisible until you go into the settings panel and activate them. Out of curiosity, I activated all of them. For reference, this is a grid of every extension level I used beyond 1.000 + +|1.272 (January)|2.000|3.000|4.000| +|:-|:-|:-|:-| +|1.414 (July)|2.272|3.272|4.236| +|1.618|2.414|3.414|4.272| +||2.618|3.618|4.414| +||||4.618| +||||4.764| + +Prepare your eyes, cause this is a metric fuck ton of color. + +[Thing looks like a Cosby sweater](https://preview.redd.it/n2ch4d3trmw81.png?width=1350&format=png&auto=webp&s=f65b22424e4bc790ebd88899c9d25dfcc688ad96) + +Now in the sequel (did he say sequel?) to this post where I can include 20 more pictures I’m going to go through each line and show the sub-division of movement there, but right now I’m going to hit a few areas where it seems pretty clear the price was reacting to these extension lines. + +https://preview.redd.it/2tptuifwrmw81.png?width=1350&format=png&auto=webp&s=4dae902f5f5d4c2533d2ab814bd08313edccd26f + +Yellow – 1.272 + +Orange – 1.414 + +Blue – 1.618 + +Light Purple – 2.000 + +We had about 21 solid bounces on lines over these 2 months. + +https://preview.redd.it/a1i3u59yrmw81.png?width=1350&format=png&auto=webp&s=0fc6be81ba3616c07afa397456505dda8333bc79 + +I left the levels on each line in this pic. A little more than 10 solid bounces in about 10 days. + +https://preview.redd.it/gc8wpwe0smw81.png?width=1350&format=png&auto=webp&s=d18ff71424c265049197d7172ae9438f3c7236a6 + +This pic looks like fewer bounces but trust me, in the sequel post where I drop channels in between extensions your tits will be more jacked. Consider this pre-jacking if you will. + +https://preview.redd.it/2yqdv9l3smw81.png?width=1350&format=png&auto=webp&s=4433797a1d9200f45970609a924e1c9a7f710270 + +I’m not going to bother putting markers on this one because the wicks are crazy long and 30min candles are the smallest I can get this far back. However I think this still does a decent job if you watch the candle bodies. Here’s what is really interesting to me, Jan 27th is the first time we ever actually hit the 1.000 line. I have no idea what it is that made this the 1.000 line from this point AND as you’ll see in the next few pictures, we seem to have been reacting to extensions well before 1.000 was ever realized. I mean I have a theory I’ll mention later, but as of this moment I have no idea how on a run that went from like $2.50 all the way to nearly $500 during normal market hours that 1.000 comes in around $264 on Jan 27. Even if you wanted to say that would be nearly 50% of the movement between the low and the high, the high still didn’t come in until a day later. It just seems arbitrary. + +https://preview.redd.it/k9clnob5smw81.png?width=1350&format=png&auto=webp&s=9f91c01d297525238d23b4576a3bb18012d781a8 + +Hugged the 3.272 extension for about a week picking up steam. As it rose it was definitely checking each level. When it finally held above the 2.272 on Jan 27th, well the rest is history. + +https://preview.redd.it/xrip2ft6smw81.png?width=1350&format=png&auto=webp&s=774cce71349c7fceaa48dfe820fde10b44763ae7 + +This is another section that will look better in the sequel, but I thought it would be good to include RC’s original buy ins. Working backwards + +Yellow Box – 2,501,000 shares at a cost basis of $14.00 + +Green Box – 284,674 shares at a cost basis of $7.00 + +Blue Box – 4,024,621 shares at a cost basis of $5.00 + +White Box – 4,834,607 shares transferred from RC to RC Ventures. Cost basis is unknown but if it is $4.36 then for RC’s original 9,001,000 shares he had a total cost basis of……….$7.41. + +Also I made a mistake in this screen cap, the first 3 lines should actually be 4.414, 4.272, and 4.236. + +https://preview.redd.it/mqag07n8smw81.png?width=1350&format=png&auto=webp&s=7484fda4af284873eb032649066d1077474cbbbb + +This is the furthest extension that I could include. The all time low price occurred about a week or so after we crossed the 4.764. What you are definitely noticing now is that our fib extension lines are looking more and more vertical because of how much we have to slide the y-axis (price) in order to see movement when the price was this low. Another thing might notice is that the gap between lines is over a month wide. Right now where we are around 0.618, we can move from line to line and back in a day. But back here, these lines were very far apart and would have been invisible. + +To prep you for the Prismatic part 2, this next image is the gap between the 4.618 and 4.764 with a fib channel drawn in between them (channel inside a channel). This uses the levels we discussed at the beginning of the post: .236 (red), .382 (light green), .5 (mid green), .618 (dark green), and .786 (light blue). + +https://preview.redd.it/mbxbvb7asmw81.png?width=1350&format=png&auto=webp&s=7662ca991505d0db2dfb24a2c129ef35040f74c8 + +In the EXACT same way that the price checks the fib lines on the large Taste the Rainbow channel, the price also checks the lines between fib levels. The sequel post will go through all of these interior movements. + +# Singularity + +We are now approaching the really big “OH FUCK” moment. Fib extensions are about the price getting AWAY from the 0.000 line. Whether that means up or down, the price should be going AWAY from 0. However, the Top Line of Taste the Rainbow is gradually decreasing at a rate of about $0.39 per day with an anticipated $0.00 date of August 29th, 2023. We are constantly heading TOWARDS 0.000. We have approached this 0 line multiple times over the last year and each time bounced down. We know the goal for shorts is to get the price of a stock low enough to eventually force a bankruptcy when the business is unprofitable and share price is so low that they lose access to generating capital. + +<Deep breaths now as I muster my beliefs on all of this> + +I believe that when the shorts first began attacking Gamestop that they had an anticipated bankruptcy date of no later than August 29th, 2023. The 1.000 line has a $0.00 date around December 12, 2022. Shorts had been aggressively buying far dated DOOMPs with expirations around January 2023 because had they been successful in scaring off apes, the price by then would have put the DOOMPs in the money. Because the Taste the Rainbow fib levels continue to follow the exact same angle as they had since at least March 2020, I believe the shorts are STILL trying to cellar box. Assuming that these beliefs are correct, the shorts are trapped and attempting to play this out as long as they can. Gamestop achieving profitability, having no debt, and also having money available for a stock buy back means that they can survive past the Aug 2023 and continue buying shares to shrink the float and force up the share price. What at one point seemed like the finish line for shorts is now a cliff’s edge that they keep getting backed up against. + +This makes me think of Roaring Kitty’s tweets involving black holes. + +https://preview.redd.it/qn6h0jnbsmw81.png?width=829&format=png&auto=webp&s=2a7c8090513cd0b65c671aa6b655be05031267bf + +The gravity of however the high frequency trading algos accomplish turning our entire chart on an angle is so great that not even the price can escape it and break through the Top Line. He posted that tweet on March 12 right after our second contact with the Top Line. On March 23 he posts a longer video clip from the same movie. On March 30th, he tweets a clip from the movie Home Alone which at one point says “I don’t know the timeline, but I do believe in Gamestop and feel confident its new leadership is badass”. And this tracks because it wasn’t until November 3rd when we finally had the second halt and we could set an angle on Taste the Rainbow, thereby giving us the date when the Top Line would hit zero. By then he had already gone radio silent. + +# Final Thoughts + +None, totally zen. + +https://preview.redd.it/ozbsmvgesmw81.png?width=1016&format=png&auto=webp&s=dab062459046ac102095a8f24fec106a396f17dd + +Continue on to Part 2 [HERE](https://www.reddit.com/r/Superstonk/comments/uf72is/taste_the_rainbow_prismatic_part_2/) +Okay, so this "tip," or really just a thing I taught myself, took me *forever* to get. It's probably something that's super obvious to many people, but on the off chance there's folks out there like me trying to curb their unnecessary online spending habits, this may be helpful. + +Basically, I had a kind of epiphany one day and realized that, "hey, if I didn't have the luxury of shopping online, I probably wouldn't be buying all this crap to begin with." So I started asking myself this question whenever I felt the urge to click "add to cart": **would I be willing to right now, in this moment, get up and dressed and drive out to the store to purchase this item/items?** If the answer is "no," then I reason that the item probably isn't that important to me and my well-being in the grand scheme of things, and thus not a necessary purchase. + +Like all things, YMMV. But I'm happy to report that it's been a solid four months since I've purchased any items online thanks to this little exercise in self-reflection, and I'm no worse for wear. Cheers! +My dear tentacled friend, + +I've been a loyal customer for years. You were the shiny new exchange on the block when good ol' Gox went down the shitter. I spent hundreds of hours with you, doing tenthousands of trades, never complaining about your minimalistic excuse of a UI which never ceased to surprise me with its constant stream of random bugs. + +Your fiat deposits and withdrawals were literally credited within minutes, therefore you were my first choice on/off ramp into the cryptosphere. + +Today, you are but a castrated, impotent shadow of yourself. Advanced orders disabled for weeks (who needs stop loss orders anyways when trading on margin, there are no stops on the way to the moon, huh?), generation of deposit addresses disabled, constant cloudfare errors, getting an order through is near impossible. In short: you suck. + +And apparently, you know it. Your deafening silence on social media speaks for itself. + +Get + +your + +shit + +together! + +Remember: Noone likes Mark. Don't be like Mark. + +Thanks +Good morning - + +I was listening to one of the real estate podcasts the other morning and the guest was talking about owner financing as opposed to being a landlord. He stated one advantage is the house is titled to the person, so they are responsible for repairs, maintenance, etc. What are the downsides to owner financing? How can I learn much more about this as a possible business? +I rarely hear people talk about wholesaling real estate, not even on YouTube or Entrepreneur subreddits. I want to get into wholesaling on the side selling 1 property a month pocketing at least 3k. I need honest answers please. + + +Hi Reddit! + +I was talking to a friend of mine about credit. He says that each person is worth a certain amount of credit based on their income.  + +Here was his example: Say you make $70k per year. You are then worth $200 in credit. If your house has a $100k mortgage, your car loan is $20k, and you have a personal line of credit worth $80k, you're done. It doesn't matter how high your credit score is; you are maxed out until you increase your income.  + +Based on this, I would like to close some of my store credit cards. I took several out in college--Kohl's, Target, JCP, Macy's, Old Navy (I think that one is close), and NY & Co. I also have a Chase Visa and a Citi Mastercard. The only card with a balance is the Mastercard, and the only store card that I've found to be worth the incentives is the Kohl's card. The rest are used maybe once a year, if that. If I'm going to have credit taking up my limit, I'd rather it be credit I can use towards another deal.  + +I know my credit will take a hit if I close these cards, but I don't see that hit being large, and I think my credit would recover quickly. + +Is any of this accurate?  + +TIA!  +I'm 25, wondering what to do with the condo that I own. + +For background, I have about $100k in stocks/bonds/cash, and own a condo in the downtown Seattle area (essentially right in the heart of the Amazon growth) that I bought ~3 years ago. + +I currently live in the condo, but anticipate wanting to rent a place to live instead, within the next 1-2 years (or earlier if I end up selling soon). This is because I have some aspirations to live abroad, and/or maybe in a different part of the country, and overall have more flexibility. I'm not hard-over on needing to own a primary residence. + +I could sell the condo today and end up with ~$200k in cash, after only having put $35k down when I bought it. + +To sell or keep it? + +Reasons I can see to sell it: + +* Seems consistent with the basic investing principle of re-balancing one's portfolio. Like right now I have 2/3 of my net worth in real estate, namely this one property. Exposing me to significant risk if something happens to real estate market, the HOA's rules, Amazon. If I could put this money in multiple rental properties that have positive cash flow, stocks, bonds, cash, and business ventures, that seems to be a "safer" and justifiable investment path. +* The condo will **not** be cash flow positive when I rent it, although it's in a hot rental market. Like I said, even if I didn't sell I would still be planning to move and rent it out, because even if I stay in Seattle I'd like to live elsewhere (somewhere where AC! haha) +* Risk of HOA putting on a rental cap +* Seattle's rental laws and pretty landlord-unfriendly; may be better to own a rental elsewhere +* It seems like an incredible ROI for just a few years. Even if I could make a lot more money by selling in 10 years, I don't think I would say to myself that I did the *wrong* thing by selling now. I feel like there are very few 20-somethings who have opportunities like this to easily get a boatload of cash like this so easily, and I should take advantage of it and not be greedy to want more. Just lock in the excellent gain now. +* Inventory is increasing due to new constructions, so this may reduce the appreciate rate in coming future +* Psychologically, having the cash/more liquid assets at this young of an age would give me great freedom to travel, invest in various things, etc. Sounds a lot better than having a loan for another 20+ years. +* Natural disaster risk in Seattle (earthquake). Yeah I know this can be a factor regardless of where you live but Seattle is known to be "overdue" for a really bad earthquake. If this would happen, I'm not sure what the effect on my property would be but I assume it can't be good... + +Reasons I can see to keep it: + +* It's in a really solid, growing downtown area. Excellent location that I really love. It's likely to continue appreciating steadily in the years to come. It would be way harder to afford anything here in the future. I could possibly accumulate some very significant wealth if I have onto it and sell it in 30+ years. Maybe not to a San Francisco level, but enough to be quite substantial. Everyone I talk to tells me to hold a property like this "forever." +* I could still use the equity, assuming I'm eligible for a cash out refi or line of credit. But I really don't like the idea of having more debt and being more cash flow-negative. + +To sell now or keep it long term? Thoughts? +I've come across a deal in which I can make a killing. The only caveat is that I will need to pony up close to $3M, however which way possible. In exchange, I retain some equity and make some sales commissions. Ideally I would contact some investors in my network, but I've tallied up what I believe they would all be able to contribute, and I can only meet half that mark. + +What would you do? Very strong housing market, lots of buyers, short on inventory. Average lot price I would price these 1/4 acre lots would be around $100k. +Is it feasible to buy properties to rent in other states? I live in one of the most expensive areas of the country, and buying a condo here would be equivalent to four or five elsewhere. Is it a reasonable thought to try and purchase elsewhere, or is managing property from distance too much hassle to handle? +All the posts here seem to be about people in their early to mid 20s already having a solid portfolio and assets under their names. It seems like all the seasoned vets also started around that same age. Which makes sense since a lot of them started with house hacking. + +But 'm just wondering, has anyone started at a much later stage of their lives (35-40+) and been successful? I'm 26, but even though I'm earning well over 6 figures, I still need some time to save the capital and build a stronger emergency fund. Combine that with the fact that my wife and I are talking about buying our future home and having kids in the next five years or so, I don't think I'll be able to get into RE until i'm 35 at the earliest. + +So i'd love to hear about people who got into it at later stages in their lives, where things like house hacking were not really an option. +To all OOS RE investors in the subreddit who have been in the game for a decent amount of time - what has your overall experience been with trying to build/manage a portfolio from a distance? What are some of the biggest challenges that you’ve had to overcome being at a distance? + +Background: I am an OOS investor who just finished a rehab on a property and managed the entire process from 1,000+ miles away and man it was exhausting (not over yet lol). Honestly just looking for some encouragement from some people who have conquered this game +I have an opportunity on an off market property to purchase for around $250k and with limited rehab ($15k) it should be worth $300-315k. Good meat on the bone but not a ton for a flip. After taxes, holding costs, and realtor fees I'd probably only make $15k, which isn't terrible but also seems like a missed opportunity. + +My main strategy is buy and hold, which I'd prefer but this property has a 10ft pool with a slide. I'm getting extremely negative feedback on rentals with a pool for liability and maintenance. I feel decently protected on liability as I carry an umbrella policy, but trying to get my head around maintenance and if it's really a value add (I'm in Vegas so it should be right?). I'm actually thinking it might limit my tenant pool (families with extremely young kids, or those who don't want to deal with the added costs). + +Anyway, filling in the pool sounds crazy to me as houses with pools do sell for more. Can anyone give experience/advice on owning a rental with a pool? Any additional strategies on investment properties with a pool? +I have the opportunity to receive two plots of land in Jefferson, Texas close to Lake O’ The Pines in the Pine Harbor subdivision. The person that wants to transfer it to me says there is a Tax Lien on it for $1600 which is 17 years of property taxes. Kinda hesitant because I am not in the position to build on the land but it seems like a interesting opportunity. Should I do it? + +Backstory - guy is trying to receive SSI benefits but he forgot he still had this land he tried to build on 20 years ago and just stopped paying the taxes on it. He’s basically giving them away so that he can receive his government benefits. +Tenant moved in with his three kids three weeks ago and is now asking for a fence so his kids can play safely in the yard. There is a partial fence in place blocking the house from the ally, but not a full enclosure. I agree a fence would be nice, but I am not thrilled about paying for this on my own as it was not advertised as having a complete fence when he signed the lease. I am willing to have him pay for it and have it put in, but I think this is unlikely. Anyone with experience in a situation like this? Is this tenant just trying to see how far I would go with him just moving in and all? + +Thanks! +For a vacant single family home, wouldn't it be best to list your property on the MLS and get the highest bid/offer possible? What's the advantage(s) of selling a property off market? +I'm closing on another 4plex in a week, I've been doing my work (research areas, check numbers...etc ..) for months and I'm thrilled about this deal but each time it's the same: + +A week before closing, i feel the need to rerun all the numbers compulsively multiple times and re-research the area..etc.. even if I keep telling myself that Nothing changed since I made the offer, my brain is none stop doubting and rerunning different scenarios with the same conclusion. +Usually that feeling disappear when I wire the rest or the deposit. + +I thought it was inexperience at first, but I own enough successful properties that i don't believe it's that. + +What is your experience with that? Does it go away or is it something that you learn to live with? +I see a lot of talk about leverage is always good pull equity out buy more low cost cash flowing properties. But leverage has its risks. My coworker chanted this mantra back in 2007, he ended up having to walk from all his properties including his primary as credit was frozen, every property went upside down etc. + +Is the idea to just short sale foreclose etc? Or do we think it can’t happen again? Anyone a serious investor back then shed some light? +I have my first rental in Ontario Canada and unlike my properties in the US, landlords are only allowed to collect first and last months rent upfront, no security deposit. + + +There are some costs I know the tenant will owe after move-out, such as final utility payments and most likely an excessive cleaning fee since I've been in the property and know they are not maintaining it. + + +How do landlords collect for these costs after tenants have moved out and you have no leverage? + + +Edit: for more info to answer some questions below, this property was never intended to be a rental. I flipped the house and it was completed in late fall. I received some lowball offers, so instead of selling it in the fall for a loss, I found a short term tenant who leased through March and hope to have it back on the market in the spring. That is why utilities are still in my name and the whole deal was not set up for long term renting. My hope is to be out of the landlord business in Ontario by April. +I rarely hear people talk about wholesaling real estate, not even on YouTube or Entrepreneur subreddits. I want to get into wholesaling on the side selling 1 property a month pocketing at least 3k. I need honest answers please. +I live in Boston and have been looking at rental rates vs condo/apt purchase prices and they seem favorable. That being said I'm new at this stuff was hoping to learn from some other people. +pretty much i have my first property and a friend wants to buy his first, has the down payment capital but not the credit to buy a first property. So he would be interested in letting me do the market research and using his money to buy another. + +just after im not sure how it works. lets say the property brings in $300 a month in positive cash flow, usually i would re invest this in the property and keep it for future expenses. Just in this partnership deal would i be giving him half the cashflow ? i dont see the point of this besides that he has 50k that i dont right now. + +seems like it would be better for me to just borrow the 50k, rather than bringing in someone else, yet its interest free ect. +I have an opportunity on an off market property to purchase for around $250k and with limited rehab ($15k) it should be worth $300-315k. Good meat on the bone but not a ton for a flip. After taxes, holding costs, and realtor fees I'd probably only make $15k, which isn't terrible but also seems like a missed opportunity. + +My main strategy is buy and hold, which I'd prefer but this property has a 10ft pool with a slide. I'm getting extremely negative feedback on rentals with a pool for liability and maintenance. I feel decently protected on liability as I carry an umbrella policy, but trying to get my head around maintenance and if it's really a value add (I'm in Vegas so it should be right?). I'm actually thinking it might limit my tenant pool (families with extremely young kids, or those who don't want to deal with the added costs). + +Anyway, filling in the pool sounds crazy to me as houses with pools do sell for more. Can anyone give experience/advice on owning a rental with a pool? Any additional strategies on investment properties with a pool? +I've got a 100+ year old duplex and I'm completely redoing the first floor kitchen, LVP, new cabinets and counter tops, redoing the ceiling with drywall, etc. It's in a trendy neighborhood in our city. + +What do you guys think about this large glass block wall? It's kind of tacky, but also incredibly unique especially how it wraps around the corner and lets a ton of light in. Not sure how to feel about it. + +If I took it out and drywalled it in, I would definitely get a big window there, but the pain would be matching the exterior siding. Another idea would be to turn it into a brick wall so you would have exposed brick on both the interior and exterior which may be cool? Or do you think I should just keep it in and update the trim and paint around the glass block and door? + +[https://imgur.com/a/vwOBThg](https://imgur.com/a/vwOBThg) + +Thanks!! +Tenant gave notice they are leaving in the next month or two. I know the apartment needs alot of work before I can bump rent +$300-400 to get closer to market value. Tenant was inherited and in place for 5+ years before I acquired. + +When I do rehabs I replace the outlets and switches with a commercial level product for durability, decent paint (SW Emerald or Behr Marquis), probably replace floors with a decent LVP instead of carpet everywhere. + +I'm at a loss for a specific brand or model for faucets and toilets. Those are the items I don't have a set go-to for. I don't want cheap plumbing fixtures to cost me in a year or two. I like the sound of the American Standard Champions so I'm not getting calls for clogs. +Is this considered a good move? or it doesnt really matter? + +I am currently shopping for a house and one of the areas I am looking at has a state university. I am thinking about moving out after about 2 years and rent out the property. + +Does the university being close by help in any way? I am thinking it would be easy to rent out the place once I move out (due to students moving in every year) + +What are your guys thoughts on this? + +Thanks +The location 2 units and has long term tenants, and their current rent is 250$ a month, their market value is around 750$. If I were to purchase this property for rental income reasons, how do I go about raising the rent more than double? Do you just tell them, rent will increase to market standards? And if they don’t want to pay, they may leave? The only reason they are so low is because the tenants do their own repairs and take care of the property fully themselves. Either way 250 per unit is extremely low. +Hi I own a 1 acre commercial property that can build up to 75'. I would like some advice on how to proceed. + +* Do I just contact a contractor/architect and ask them how much it costs? +* I own the property it was appraised at $4 million, how do I leverage the equity in that? How much can I get from the bank? +* I would like to have a commercial retail space on the ground floor and housing units on top. + +If you have any advice, it would be greatly appreciated. Thanks in advance! +Im getting a heloc on my primary residence, so i will will have access to cash to put down on a rental income property. + +What is the formula to use to determine if the buy is good? + +My goal is to cash flow, and use that money to go towards a second rental. + +End game: 5 cashflowing properties. Ive got a great job, these are to generate a passive income when i retire in 20 years. +I live in a very old part of town that has been divided and re-divided multiple times over the years. My lot and my neighbor's lot are very small. A few months ago, my neighbor had to move to assisted living due to health issues and his house sat empty since. We expressed to the family that, if at some point they ever decided to sell, to please let us know. The neighbor's house is old and is a tear-down, so we would buy it to expand our lot and possibly add-on to our house in the future. + +Well.. the family recently reached out and said that they talked to some realtor friends and got a value for the property. They know we have been good neighbors for over a decade and gave us right of first refusal. They said any offer that is reasonably close to what the realtor friends told them would be considered, and they would save the 6% commission since this would be an off-market transaction. Otherwise, it would go on MLS. I told them that I'd talk to the city to see how big of a PITA it is to combine the lots and would get back to them. + +It turns out that the neighbor's lot is small enough to be considered "substandard", meaning the city won't grant any permits for remodeling or re-construction. In other words, the properly is of no value to a buyer except for me or the neighbor on the other side. But if I buy this lot, then mine becomes a pretty good sized lot. + +So.. that puts me in a very interesting position. Property in our neighborhood is at premium (\~$100+ sq/ft for the lot). On one hand, I don't really need this lot. On the other hand, it would be nice to add on to our lot. But how do I inform the family that their lot is substantially less valuable than they thought without appearing as though I'm trying to take advantage of the situation? +When you have reached max fixed rate conventional mortgages. How do you financing your additional deals? Would it have to be commercial loans after that point? + +I see people with 800 single family homes and crazy levels like these. How do they own so many ? Is it syndications and crowd funding at that point with commercial terms? + +How did you guys do it? +My husband and I already own a condo that we purchased in 2021 for around 160K for a 3% interest rate in an area with good schools. The payment is $1200 a month including our condo fee. We have a remaining loan of 100k on the condo. We saw another condo on sale in the area for 180k and are considering buying and renting it out. We make approx 10k per month. The monthly mortgage will be about $1600 including the condo fee. Is it worth it at this current interest rate to buy the condo? Our goal is to eventually rent both out. We would rent each one about $1800-2000 per month depending on demand. + +Edit: thanks everyone for the input the condo was just marked contingent this morning. It was only on the market for 2 days! +Similar to buying stonks at all time highs and then seeing the market crash, it would be funny if companies mass produced a fresh supply of the essential goods to cause bagholders that wanted to profit from reselling. + +So if it costs like $25 for a pack of 30 toilet paper rolls at Costco, lower it to $20 or something. + +The people that bought a crap load at $25 will be pissed that they can't flip it for more. + +Same goes for hand sanitizer, wet wipes, paper towels, etc. Companies should reduce profit margins temporarily and screw over the people who wanted to scalp for profit. Cause them to baghold on items they'll probably take years or a lifetime to consume. I doubt they'll want to "average down" since their living rooms will be filled with toilet paper and stuff. +Not much more detail on how this would even work: https://www.cnbc.com/2020/08/27/walmart-is-teaming-up-with-microsoft-on-tiktok-bid.html + +I'm sure most of its users won't care but if there's any way to remove the 'cool' factor from Tiktok, as if MSFT wasn't uncool enough Wal-Mart is another layer of uncool. + +Edit: WMT +5% for the day +Hi all. I’m 34f. +I have probably $40k in stock & retirement accounts. My husband thinks there’s an inevitable stock crash coming and also thinks digital currency will devalue my stock. He saying I should just liquify all of it because it will not grow and I’d be better off having it In silver and cash. + +Fwiw, I don’t completely trust his judgment in money. I run a successful business, retirement, and an emergency savings and my father is a banker. My husband doesn’t save, only buys silver and only deals in cash. No retirement plan because he thinks we won’t be able to? He thinks collapse (in the US) is coming so he is focusing on that. (I don’t agree with this.) I do have some silver, but I’m not obsessed like he is. I understand that it will hold value- but we have an infant. I’d rather have the cash than the silver at this point. + + However, do you think there’s any truth to what he’s saying? Should I liquify any stock? I don’t really want to. I’m more a fan of keeping things diversified. Or do you think he’s just being overly paranoid? + +Would love your thoughts. Thanks! +Me and my friends are running a simulator through Investopedia where we each get $1000. I have never invested in anything before and this is something that I'd like to figure out before I put actual money into companies. We started 2 days ago and I bought 1 share in Tesla. The Tesla stock dropped significantly in one day due to an announcement of the new model and I lost $14 before I sold. + +I got discouraged by this but I would like to know, is there any way to have predicted that rapid decline? Was that just a luck of the draw and I would've never guessed Tesla's model was going to be received badly? Are there any other tips that you have for someone who is just starting to invest? Are there any current events going on that would affect my investments positively? + +&#x200B; + +p.s.: + +The simulator stops on June 15, 2019. + +We are allowed to short sell. + +We are limited to USD (so basically, we can't invest in the weedstocks that are centered in Canada). + +&#x200B; + +EDIT: (clarity) I do want to beat my friends, as is all friendly competition, but learning is also my goal, and when it comes to actual money I would like to know what I'm doing before I do anything that could cost me. +29, married (dog, but no kids yet). Wife is 27 + +Salary: 180k for me. hers 70k (total 250k) + +Investments (total): 185k. We invest about 7k-8k per month (partly retirement accounts, HSA, and {soon to be} long term disability, but most of the investments are taxable). The money is allocated in mutual funds, stocks, bonds, and (of course) cryptocurrencies. Really any excess cash we have we invest + +Savings/Cash: 20k + +Mortgage left: 270k (Zillow value on house 420k). + +Monthly mortgage is 2,500 + +Avg Monthly Expenses (excluding mortgage): *5k +We each own a car. Besides mortgage and credit card expenses no other debts. + +Want to be able to be FIRE in our 40s, but not sure if it is possible. We are trying to keep our standard of living constant as we make more money - though this will change as we are thinking of having kids over next few years. + +*Edit - actually expenses each month excluding mortgage is around 5k, gave wrong figure before + +*Edit again, because a couple of people asked, here's the make up of my average spending (over past 6 months) (according to mint): + +- Food and dining: 1.2K per month - I think this is where we can work the most on. I usually eat out at lunch. Fortunately this number has decreased lately since we've identified it (we're expecting to be around $700 this month, still a lot but an improvement from before) + +- Travel: ~$750 per month - We're taking a summer vacation to Italy soon and we recently went to DC to visit family. I guess I could say usually this is less (we travel once per year overseas, and a couple of times per year somewhere inside the borders) + +- Health and Fitness: ~$250 per month + +- Utilities: ~$500 per month (*edit, forgot to mention, work covers our cell phone of about $100 per month), so really this is a bit less) + +- Business services/Other: ~$450 per month (I pay a financial advisor $100 per month, linkedin subscription, computer servers/subscriptions for side business) + +- Auto and Transport: ~$400 per month + +- Misc Shopping: $550 per month + +- Other: $600 per month (Gym membership, pet expenses, just bought a few hundred dollars of furniture from IKEA) + +Source (p. 637 and 639): + + +http://docs.house.gov/billsthisweek/20171218/CRPT-115HRPT-466.pdf + + +Relevant text: + + +[Present Law:] + + +268 Although an individual with AGI exceeding certain limits is not permitted to make a contribution +directly to a Roth IRA, the individual can make a contribution to a traditional IRA and convert the traditional IRA to +a Roth IRA, as discussed below. + + +[Proposed:] + + +277 In addition, an individual may still make a contribution to a traditional IRA and convert the traditional +IRA to a Roth IRA, but the provision precludes the individual from later unwinding the conversion through a +recharacterization. + + +Hypothetically speaking of course, but say there was a news organization that was considering picking up the story of the DTCC committing international and domestic securities fraud. + +How would you organize information to present to them, or how would you concisely explain it to them in a way that they can easily digest? + +You can't just point them to[ our library.](https://fliphtml5.com/bookcase/kosyg) It's too overwhelming. + +There needs to be a one paragraph summary of exactly what's going on. + +There needs to be one paragraph explaining why this is illegal. + +There needs to be one paragraph explaining why the DTCC would have motive to do this. + +There needs to be substantial evidence provided to substantiate every claim made. + +It needs to be concise and professional. It needs to be to the point and easy to understand. + +It needs to remain on topic and be serious. + +I am not saying that any particular news organization may be reviewing this post, but please be on your best behavior. + +You know what to do. + +Lets get this story out. + +(Edit: Any comments linking single sources of evidence are welcome.) +My theory about why GameStop still hasn’t fully launched and what’s holding things up is that it all comes back to Apple. + + +GameStop most likely submitted their iOS app months ago for approval. Apple realized the massive implications and started internally developing a strategy about how to handle NFTs. GameStop decided to proceed with a soft launch and roll out with IMX. For months GameStop and Apple have probably gone back and forth over the nuance of what an NFT is and what it isn’t. Finally Apple updated their terms and conditions a little over a month ago and GameStop either had to rethink the way their wallet will store/handle NFT’s to meet the terms, or they needed to think of a workaround using a web app to do what this iOS app was going to do. GameStop probably didn’t bother with Android because everybody knows there is a lot more wiggle room in their Play Store. + +So, it seems likely to me that GameStop needed Apple to figure their shit out and then they can adjust their service to fit within Apple rules. Hopefully the terms were acceptable enough to only need small changes, otherwise gutting an iOS app and moving to a web app is definitely going to take time. Seeing the GameStop lead developers move on makes me think the iOS app just needs minor changes that are tied to Apple’s need for control, not a brand new web app. + +I imagine what’s happening is similar to what happened with Audible. It took years for Apple to allow Audible users to use their credits within the app to buy books; you still can’t link directly to the Audible store or use cash to purchase a book in the app. NFTs require a whole hell of a lot more scenarios to work through than just audiobooks, and we all know that. + +TL;DRS Apple realized NFTs are going to be used for a whole lot of different scenarios and needed to take their sweet time before publishing any official rules. Seeing GameStop NFT devs move on is bullish because it signals Apple’s terms won’t require a brand new workaround, just tweaks. +The biggest risk in term of FI is to run out of money too early. + +I used to think in terms of improving my rate of return, which can augment your future lifestyle as your nest egg gets bigger, which is nice. However, it comes with additional risks too. This [post](https://www.reddit.com/r/financialindependence/comments/br11cw/opinion_if_youre_chasing_abnormally_high_returns/) is relevant as I was writing this one. + +As I spent time looking at the various simulations (for example, on personal capital), my concerns boiled down to avoiding this 10 percentile (bottom 10%). I understand that this 10% is rather arbitrary, one can decide to target the bottom 1%, or 25%, etc... If I don't run out of money, then whatever is above the baseline is gravy, and I will be an happy camper it we hit the top 90 percentile, median, or even 25 percentile of market performance. + +Taking this in account, and understanding that we need to be invested in stock market to not run out of money too early, what are the best investments to avoid the sequence of return risks? Are there some studies that diverge from the standard Trinity (and alike) with 100% bonds, 100% stocks, 60/40, etc... + +I am thinking for example at the "All Weather Portfolio" or even "Golden Butterfly"... + +What if my focus was to avoid the worst outcome, instead of getting as much money as possible? +Interestingly enough, I have been a pretty aggressive investor, and this may mean I am becoming more conservative. I guess I am growing. :) +Yeah, I'm talking to [you](https://www.reddit.com/r/wallstreetbets/comments/cfadpo/so_you_wanna_trade_spreads/) with your fancy post with the gold and way too many words. + +Did you know that teaching redditors what a spread is is actually of *negative* value to them? + +Wanna know why? + +Understanding what a basic credit/debit spread is is *fucking easy*. The algebra involved is literally middle school level. There are 12 year olds that can draw out the P/L graphs of the strategies we're talking about without breaking a sweat. + +"But OP, plenty of people on /r/wsb are morons, at least I'm helping them!" + +No dumbass, you're not. Because understanding the basic mathematics behind a spread is the easy part of trading one. The hard part is *everything else*. Ya know, picking a ticker, developing an investment thesis, risk management, knowing when to take your profits/cut your losses...all that shit? + +If somebody's too stupid to go to fucking Wikipedia and learn what a credit spread is, then they're *definitely* too stupid to make any money using them. So the only thing that you might be achieving is taking idiots who should be keeping their money literally anywhere else and getting them to lose it on $TSLA 410/420C or something. + +Plus you post here, so you're probably stupid, so you're probably gonna [get shit wrong](https://www.reddit.com/r/wallstreetbets/comments/cfadpo/so_you_wanna_trade_spreads/euaarq6/) anyway. Which means the morons would probably have been better served learning this shit literally anywhere else, or, again, not learning this shit at all and keeping their money under their mattress. + +Wanna make some content that's actually useful? + +How about you explain how to read a balance sheet? Or an earnings report? Or if you're a TA freak, a chart? If you're swing trading, how do you pick a ticker? How do you determine when to exit a trade? How do you do risk management? + +Hell, even if you're determined to YOLO 100% of your account into OTM calls on some shit weed stock, you could at least explain what factors you're on the lookout for when you make that play. + +I don't do that shit because I don't know how to do that shit because I don't know how the fucking market works. But at least I know I don't know that, so I'm not out here losing all my money because I just learned what a credit spread was and clicked the first stock on my watchlist to open the first one that Robinhood suggested me. + +**Edit** to clarify my point: +These types of posts are like teaching somebody the relative hand ranks in Texas Hold'em and acting like you've prepared them for a professional poker career. + +If they learned anything from your lesson, they're clearly unqualified to put any significant amount of money onto a poker table - certainly not if they're expecting to keep any of it. + +It's fine to not understand what a spread is. Nobody is born knowing this shit. But if you're the kind of person who is *just learning* what a spread is, you should be *very very very* far away from /r/wallstreetbets, lest the temptation to join the party lose you all of your fucking money. +They are going to want to release their Black Friday deals at least a week ahead of Black Friday. Last year they did it on the 9th. In 2019 they released their deals a week ahead of time. + +What comes after Black Friday? Cyber Monday. Wouldn't it be great if they had an NFT marketplace with deals by that date? + +Buckle Up! +*I just wanna share my story to inspire and not to brag also sorry for my English if it's not that fluent.* +**Warning long story ahead** + + +I’m a high school drop out, I’m one of those people who had difficulties in studying. After dropping out of school I became a pet sitter during my spare time in the morning , afternoon I take time to take care and be with my little sisters and at nights I worked at a pizza place, for years working overtime to save up and provide for my needs and give something to my family, One day our mom left us because we got nothing else anymore. I swore to myself that I’ll do anything in my strength to help my dad provide for us. 4 years ago same day today, I had a conversation with a colleague about bitcoin, at first I couldn’t understand anything but I knew I was interested so during our lunch break I bug her off so we can talk about bitcoin and things about it and how much it can do more in the future and as days passed by I was really hook into it and decided to invest in bitcoin as well just like what she did. It’s not easy I tell you, I worked extra hours just to save up so I can invest in bitcoin, I didn’t buy anything for myself for years all my savings was just for bitcoin and for my family. I have those crazy nights crying myself to sleep, the burden, the heartache was just heavy but I still managed to get back up because I have people who trust and need me . Well, what can I say? Hard work really does pay off. I’m not yet a millionaire but I can say that I can provide for my family. I even asked my dad to quit his work and just relax. If you’ll ask what happened to the “colleague” she’s now my wife, we got married two years ago and we are now pregnant. +For those who are just starting to invest in bitcoin, it’s not yet too late and it will never be. +For those people who haven’t experienced change, take heart it’ll be your turn soon. ;) +Sorry for the long post and if the story is a bit cringe or too sad. +Felt so nostalgic because of this article : https://bitcoinist.com/cryptocurrencies-are-positively-impacting-the-lives-and-pockets-of-billions-of-people-across-third-world-countries/ +I'm curious whether anybody here has done a pre nup for protection of retirement accounts. I recently got engaged and have thus had cause to think about this. My SO and I are already established in our careers and split things down the middle typically. While I do believe I'll lose wages due to time off when we have children, the law seems to account for that pretty well so I'm not worried about including that. + +What worries me is the fact that he is not particularly FI minded, so his retirement accounts are wimpy compared to what mine will be as time passes. We save roughly the same amount and he makes ~20k more than I do right now, a gap that is only expected to get bigger as he is an early career electrical engineer who will get significantly better raises as he progresses in his career. He spends more, but he has more. He's just one of those people to have 30k sitting in his checking account doing nothing and he hasn't been too interested in hearing about the magics of tax advantaged space or compounding interest. I'm not particularly worried about that since we make a lot of money and I know I'll handle mine to my own standards. + +Long story short, I don't want to get to a point where we're 10 years down the road seeing a divorce coming up (I doubt it but who goes into marriage thinking they'll need divorce?) and knowing my efforts to save 24.5k a year are on the chopping block. We're in a community property state. I don't want half of my retirement savings to be considered his when he has even more opportunity to fund his than I do but spends the money differently. I don't want to be penalized for being the responsible saver in our relationship. + +I'm not sure how to raise this concern to him. I was thinking of maybe just showing him the numbers, like making charts and pointing out how much I would stand to lose vs him to make him understand it's not meant to insult him but rather protect me in an area where the law leaves me vulnerable to unfair treatment. I know many people here didn't start off with an FI-minded spouse and say it was something they grew into later, so if anybody else has any tips or advice, I would certainly love to hear it. + +**Since I see a lot of replies thinking we have big disagreements about finances, Editing to add**: I don't spend as much as him but don't have a problem with his spending. I don't think it's irresponsible and he's got more than enough to cover it. And we do agree on the necessity of savings, just not on where it should be saved. He prefers post tax accounts, which means if he was to have some sudden change of personality and spend through all of his money, he could do so easily. Meanwhile I can't really touch my pre tax accounts which is where I put 24.5k a year, the majority of my savings. He could burn through his money and come for mine as community property in a divorce. That's my worry. +Puerto Rico is in the most debt out of any US state, or territory, and I’m wondering if BCG is involved. I found articles proving BCG has oversight in some areas but I’m wondering if any other ape has looked into this? I would love to have another set of eyes researching the corruption. There has been FEMA scandals and corrupt government officials getting caught. Can it all be tied back to BCG? Tinfoil hat is on. +It's time to get back to basics, ECON 101. All prices are subject to supply and demand, and at the most basic level, this is taught in economics as a supply and demand curve where the optimal price for something is where the most buyers (demand) and most sellers (supply) are available. These same concepts apply to GME, and using the historical data of price and volume, I've made a model showing this supply and demand and there's some pretty intriguing information that's hidden in the data. + +&#x200B; + +Before getting to the tea, lets review what a standard supply-demand curve looks like from ECON 101 - + +&#x200B; + +[\\"Equilibrium\\" price P at quantity Q supplied](https://preview.redd.it/93urqzxt44471.png?width=690&format=png&auto=webp&s=5406abad42d1a2a89eb0503cf8644ffad3f74e98) + +What does this mean? In the simplest terms, the quantity of a product supplied by sellers increases up and to the right as prices rise. The quantity of a good buyers are willing to buy (demand) increases as prices decline, shown by the line moving down and to the right. The equilibrium price is the natural price the good will ultimately end up selling at based on the intersection of the supply and demand lines where seller are willing to supply q to meet the demand buyers have at q. + +&#x200B; + +This concept can be applied real time to stocks, but the supply and demand curve never will look as clean as shown above because things get complicated in the real world. However, with the historical pricing data that shows price and volume of trades at a given price, you can start making your own supply and demand curves at home! Seems useful, and spoiler alert, it is. + +&#x200B; + +For the purpose of the post to present the data as clean and concise as possible, here are some adjustments I've made to my models - + +1. The models start using price data from 1/22/21 until today, and utilize closing prices and volume from yahoo finance - [LINK](https://finance.yahoo.com/quote/GME/history?p=GME). 1/22 was the highest volume trading day in GME's history, and is used as a reference. +2. The volume information has been "normalized" by dividing the daily trade volume by the highest volume day seen on 1/22. This returns a value of 1 for volume on 1/22, and a percentage of 1 for all other days. This will make sense once you start viewing the charts. +3. I have assumed "demand" volume is simply based on the volume of the trading days. +4. I have assumed "supply" is 1 - normalized trade volume. The most supply ever made available to the market was on 1/22 as each trade in theory needs a buyer and seller. Think of this value as the remaining "supply" left at the end of the trading day. +5. I have flipped the quantity and price axis in my analysis to not only help present the data, but also drive home the point price is what drives the volume in a short squeeze scenario, rather than price being driven by volume. + +&#x200B; + +Now, lets takes a look at what GME's modeled demand curve looks like - + +[Modeled GME stock demand; Vertical Axis value 1 = 1\/22 trade volume 197 million share](https://preview.redd.it/df6awqmf94471.png?width=583&format=png&auto=webp&s=11a41e99f4bb2d213eaf3d5bac390b09a26608e8) + +Well, the model shows demand typically moves down and to the right, until we reach that tricky $300/share level that results in really interesting things happening, like the internet going down today, 3/10 50% loss in share price in 10 minutes, or straight up buying restrictions on GME like in Jan. This model is showing that instead of going demand for GME shares going to 0 after 300 like typically would be expected with rising prices - **THE DEMAND FOR GME SHARES BEGINS TO RISE EXPONENTIALLY AFTER $300!!!** + +&#x200B; + +Now, demand is just one part of the supply/demand balance, we still need the supply piece, so what does that look like? + +[GME Modeled Stock \\"Supply\\". Amount supplied = \(1 - \\"normalized demand\\"\)](https://preview.redd.it/vvj5dp72b4471.png?width=611&format=png&auto=webp&s=c1802ac52fb1a9095d1f87fbc27793637ee6e27f) + +So from the start of the chart, again, an the supply of GME stock shows an "upward" and to the right movement, signifying more supply will show up as prices rise. However, again, something really interesting is happening after $300/share price for GME. It seems the supply of GME shares actually begins to dry up, and liquidity drops off a cliff after the $300 mark. Now, with both of these models, they are in no way perfect, and subject to some pretty big deviations from the model line, but I think this is mostly a result from some of the noise added to the model during the initial Jan squeeze and the second squeeze in Feb with the legend u/DeepFuckingValue doubled down. Happy birthday Sir! I didn't adjust or remove any of this data because I wanted to present the raw pricing and let you use your own discretion and critical thinking if this can be relied on. + +&#x200B; + +To pull this all together, I present the ultimate model of the GME Supply-Demand curves - + +&#x200B; + +[Triangles - Price; Black - Supply Curve; Red -Demand Curve](https://preview.redd.it/ndth21pic4471.png?width=692&format=png&auto=webp&s=cdcdf95c068484c3b0e3276c3c6f966d1ac9e538) + +&#x200B; + +I have highlighted today's close in the larger yellow triangle. It appears now there is some math behind the idea the $300 mark is the event horizon of the financial black hole GME short position created, as after that point Demand for GME begins to skyrocket and supply of GME shares becomes non existent. This is not financial advise. Diamonds are not formed without extreme pressure. **The ALGOs NEED the supply curve to turn into the type of curve they have been programmed for where rising prices result in more supply.** 💎🖐 ruins any and all algorithmic/rules based trading that use classical economics to drive the trading. You know what to do, and if not, DFV has a message for you - [https://twitter.com/TheRoaringKitty/status/1402339649662730240](https://twitter.com/TheRoaringKitty/status/1402339649662730240). + +&#x200B; + +Final note, I made an OPINION post speculating on how we may be on the verge of not just a GME infinity squeeze, but also an infinity squeeze of the GME digital currency that may or may not be announced tomorrow. The post didn't get much visibility originally, so sharing here for all those interested - [https://www.reddit.com/r/Superstonk/comments/nv6dwy/rc\_can\_give\_dfv\_two\_infinity\_squeezes\_for\_his/](https://www.reddit.com/r/Superstonk/comments/nv6dwy/rc_can_give_dfv_two_infinity_squeezes_for_his/) + +&#x200B; + +**EDIT 1: Forgot TL/DR -** + +**TL/DR (for🦍 that can't read) :** + +💎🖐🦍➡💩a🔔🎆➡🔥🚀🚀🚀🌙➡🍗🍗🍗 + +&#x200B; + +**EDIT 2:** + +In my opinion, there have been three phases to GME this year + +1. Initial Jan squeeze followed by dump to Feb lows +2. DFV double down, 2nd squeeze back to 350 for 3/10 50% dump in 15 min back to 170, eventual fall to 120. +3. April consolidation, late May squeeze starts and now we are at 300, the highest level since 1/29 + +So, based on these events and the different phases, when it comes to modeling such volatile moves, you either need to use several different correlations and piecemeal things together, use one simpler correlation and loose accuracy, or you can increase the order of the correlation. I concede, in many instances, this can be considered "overfitting", but I do not believe this is the case for this data set. In the lower price ranges, the lower ordered parts of the fit help describe the data, in the mid range, the middle orders take charge, and in the higher range the higher orders matter. We were are today, there are only 2 other instances where GME was above this, so this is an imperfect attempt to model what seems to be an outlier event, which will soon be a price floor if prices continue higher. The most important thing you can use this higher order correlation for is derivative analysis to get a better idea of where the tangent lies and the magnitude of the acceleration of prices as GME goes above $300. Whatever conclusion you draw from this, if you draw one at all, is the direction where things are going, and further judgement and analysis should be used after that. This model in fact breaks down after the 365 price level, as there will still be shares available at that point, and new data can be taken in and analyzed when/if that price is reached. I relate to many 🦍 with math/engineering backgrounds as I too have a background in engineering, but please realize the black/white needed for engineering isn't necessary or even prudent in finance, everything is gray. Market's are controlled by algos and machine programming on the surface, but are still deeply human and filled with uncertainty. Look into the failure of LTCM in the 90's / read "When Genius Failed" - The smartest and richest HF in the world created an algo that beat markets for years, until it didn't, the fund became insolvent, and the fed needed to bail them out. +In the interest of not liquidating my equity positions, I have always bought "insurance" in the form of options. I usually buy calls with about 3-6 months expiration on $SQQQ and curious what other plays could work well for this type of hedging? +Hi guys. So here's the deal: I'm 18 years old, I have about 1.2k in savings, and I am determined not to be trapped in the rat race in my 20s. I decided not to go university because I do not see it being a worthy investment for me, personally. I am auditioning for Drama School since my long term goal resides in acting, but I do not want to end up working in hospitality for the rest of my life, and eventually end up quitting my dream because I cannot financially support it. +&nbsp; + +So... + +&nbsp; + +I've been thinking a lot about business ideas and how I can make money, but I want to be as open with you as possible: I feel really peeved about it all. I have all this motivation and determination to do *something*, but every idea that I come across my mind goes "but you're not **passionate** about it". I then try to reach past this barrier by researching the idea and the more I research the more I see that -as with any kind of business- it requires a lot of work, and because my 'passion' does not reside in that particular business I know I wouldn't be able to push myself past the basic obstacles that come with running a startup. + +&nbsp; + +Any advice or help would be *really* appreciated, and I'm happy to answer any more questions. All the best! +The sub is blowing up as BTC has dropped to a low we were not expecting etc etc.. FUD is dropping from left right and center and we are expecting a further contraction in the global markets. + +Yes the BTC $100k dream is long dead for now but that doesn’t mean your investment isn’t a good one. You still have the same amount of coins which historically should again achieve the price you bought them at. + +People need to try and stay calm, if you plan on doing a trade it would be advisable to think about it, maybe delay 24h and see if it still feels like the right decision. Emotion trading often leads to bad decisions. + +If you are feeling down definitely talk to family and friends for support. +**TL;DR - T+0 (Instant settlement) is what the DTCC has been continually working towards but has become very clear, that under their current framework, would enable naked short selling EVEN FURTHER. The DTCC currently struggles to settle trades within 3 days and instant settlement only results in increased (and justified) FTDs , with a less transparent system.** + +&#x200B; + +Quick disclaimer - I know what you're going to say.... ***WHAT ABOUT BLOCKCHAIN??***. Blockchain would make instantaneous settlement a reality and provide a better, fairer, more transparent market. + +&#x200B; + +**Too bad the DTCC openly states that 'they don't need it'**. (more on this below). + +&#x200B; + +***This post is also live on the subreddit*** r/IJustLikeTheStonk***.*** + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +# T+0 settlement + +&#x200B; + +As you may know, the current framework to settle trades relies upon a T+2 settlement. That means the entire process of the exchange of cash for securities is given 3 days (transaction date plus 2 days). + +&#x200B; + +For a naked short? When a market maker has a buyer but no seller for a stock, they can legally sell you the share that doesn't exist under the guise of 'adding liquidity'. This is with the promise of repurchasing back at a later date. However, if they don't buy it back and deliver within the settlement time? That's how you get your Failure To Deliver (FTD) babyyy. + +&#x200B; + +So a trade date equal to the settlement date.(T+0) This monumental change will increase the levels of naked short selling abuses we currently see many many-fold as "failed deliveries" will be the norm and not the exception and abusive and intentional failed deliveries will be **camouflaged.** + +&#x200B; + +**The DTCC's never-ending quest for clearing and settling trades at light speed, no matter what the effect on the INTEGRITY of the process, needs to be addressed.** + +&#x200B; + +The current system decides to 'fix' itself when the trade fails. The seller doesn't deliver the share? Oh well, the NSCC will step up and decide to give you an IOU (counterfeit) in the meantime until delivery (I referred to this in part one). You would believe that T+0 would force naked short sellers to immediately locate and borrow shares to short sell. + +&#x200B; + +And for options? Boy, that's a completely separate beast! + +*I mean really? You pass yourself as cynical people.* + +All this would actually do is allow the FTDs to pile up and be hidden with all the wonderful options loopholes etc, exacerbating the entire issue. *(yeah go big words, exacerbate means to make a problem worse, not touch yourself...)* + +&#x200B; + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +# What does the DTCC have to say about this? + +&#x200B; + +https://preview.redd.it/3wmfgv78hrb71.png?width=925&format=png&auto=webp&s=eeee8a6ac9a9296b85d404f8bafcfc88394ca1be + +**So no need for distributed ledger technology. Aka, blockchain. You know, traceable, transparent, visible. Yeah we don’t need that, we can do it ourselves!** + +&#x200B; + +&#x200B; + +https://preview.redd.it/m5ee4i99hrb71.png?width=1023&format=png&auto=webp&s=477f68b1a9e894b1de2346978154d64cdbcbaa60 + +&#x200B; + +Ladies and gentlemen, the DTCC is considering the end investor. (ironic) If we move to T+0 and you don’t do it with the DTCC, you might not get your shares. What this actually means is if someone fails to deliver your shares…we can make sure it still looks like there’s a share in your account. You know, so you don’t panic, come to us and make sure you actually have one. + +The DTCC continue to rally on about netting. As you may or may not know, netting is the purpose of ‘cancelling out’ debit vs credit. + +*For example, I owe you $10 for a banana but you owe me $5 for an apple. Netting reduces this down to a single payment of $5, rather than two transactions. This is supposed to reduce risk and any strain on liquidity. I personally don’t see how this is a good thing? Yes, great you’ve managed to reduce overall payments down, it’s logical right? Well I see it as counterintuitive. In a digital age with the current technology, I see it as far more transparent to see EVERY SINGLE TRANSACTION for a security.* + +&#x200B; + +No ‘balancing the books’. + +No hiding transactions. + +All instantaneous. + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +&#x200B; + +Now to the good bit. **MARGIN.** Real time settlement would require cash to be available immediately. + +Great. What about margin? If you want a loan from the bank – you wait. You want a car loan – you wait. You want margin on a stock – YOU SHOULD WAIT. This shouldn’t be done instantaneously. Risk management would assume that putting in place the proper safeguards (collateral etc) would ensure the broker is essentially risk free. That’s why we’re in this mess now. Instantaneous I.O.Us and debt obligations causing an entire mess. + +Further point? I find it hilarious they believe shortening the settlement timeframe will reduce risk. It’s extremely important to say that **under their current system and framework, this will increase risk and increase the FTDS. (THIS IS UNLESS MANDATORY RULES ARE IN PLACE THAT A SHORT MUST BE LOCATED BEFORE BORROWING)** + +&#x200B; + +**BETTER YET, THE DTCC OPENLY ADMIT THAT FAILED TRANSACTIONS WOULD SOAR** + +&#x200B; + +&#x200B; + +https://preview.redd.it/kcjxecsbhrb71.png?width=618&format=png&auto=webp&s=d3aa031ef09dc23ac19c9a0a24f0c71ba91e451f + +&#x200B; + +https://preview.redd.it/znjiv36chrb71.png?width=644&format=png&auto=webp&s=0bf4200b7aa1aa1a0c7a33cca8d4f329e847b467 + +**ie. We would need to find a way to continue borrowing shit without actually finding it first, causing a bit of a problem. Oh well, I guess we can just fail to deliver and actually be able to justify it!** + +&#x200B; + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +# So okay, what are the benefits? + +&#x200B; + +I want to make it very clear the issues in instant settlement are with the CURRENT SYSTEM. The FTDs disappear in an anonymous pool. + +The only benefit is that the DTCC and it's counterparties would still be liable to deliver that share. The middleman is necessary. It's your 'escrow' of sorts. However, the privilege of being this has allowed for fuckery for too long. + +&#x200B; + +This point from a fellow user sums it up perfectly - In an ideal world... [u/SurVVhyNot](https://www.reddit.com/u/SurVVhyNot/) + +&#x200B; + +>There is no current framework for T+0, it's all T++ (1 or more).I'm saying, go ahead and institute T+0 because it will force more hands to do business better. The regulations will catch up (wishful thinking of course, but true over time) the more pressure that is put on business operators.No one will do business with those who don't deliver, they will be cut out. The free market is powerful, always wanting to reach equilibrium with itself. That's why I can't fathom anyone arguing T+0 is bad, because it forces things to become better. Keep pushing hard for perfection and we can't loose.The free market is equilibrium between chaos and perfection. We have chaos (inefficiency). We need regulation to balance it. I have yet to observe a market with too much regulation! +From the looks of, a lot of folks here have YOLO'd tens of thousands or even hundreds of thousands of dollars in stocks. + +I'm curious as to how you made that kind of money to get started in investing in the first place? +Hi, + +27yr old with £35k per year job with around 8-9k debt across 2 credit cards, monzo overdraft, next account and a bank loan in a family members name (it was for me). + +I'm being dramatic but it's honestly feels like I'm drowning. + +I work full time and have started looking at overnight jobs however most would mean I get 0 sleep before heading to the office. + +Girlfriend has just bought a mortgage that we have entered too so monthly outgoings have shot up having to get furniture and everything. + +Any advice ? Or is it literally, live like a peasant till it's sorted as it's my own fault. + +Edit: thanks for all the suggestions, it's refreshing to know that mine isn't considered to be too bad by others, apologies if I came across as "moany" +[GameStop.com](https://www.gamestop.com/) || Shop [Internationally](https://www.reddit.com/r/Superstonk/comments/vyyzmx/gamestop_retail_international_nft_game_informer/) || [NFT Marketplace](https://nft.gamestop.com) + +GameStop [Investor Relations](https://news.gamestop.com/) + +# 🙋 ​[What's GME & should I consider investing?](https://www.reddit.com/r/Superstonk/comments/qig65g/welcome_rall_looking_to_catch_up_on_the_gme_saga/) + +# 📚 Library of Due Diligence [GME.fyi](https://fliphtml5.com/bookcase/kosyg) + +>A collection of over 200 of the most important, groundbreaking **D**ue **D**iligence. 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 + +# 🟣 [Computershare Megathread](https://www.reddit.com/r/Superstonk/comments/xxh13d) 🎃🐦 + +>Wondering what DRS is? Want to know how and why people are Direct Registering their shares? Here you'll find our guide and additional resources, as well as a welcoming community answering questions in the comments! + +🏴‍☠️ [NFT Marketplace & Wallet Megathread](https://www.reddit.com/r/Superstonk/comments/vluysg/gamestop_nft_marketplace_wallet_megathread/) + +>Why is GameStop getting into NFTs? *WTF* even is an NFT? How do I set up a GameStop Wallet? How do I get a cool/custom wallet address? All these questions and more are answered here! + +**Read** [**the Rules & Wiki**](https://www.reddit.com/r/Superstonk/wiki/index) **||** [**MOASS FAQ**](https://www.reddit.com/r/Superstonk/wiki/index/faq) **|| Join our** [**Discord**](https://discord.gg/Superstonk) + +How to [feed DRSBOT](https://www.reddit.com/r/GMEOrphans/comments/qlvour/welcome_to_gmeorphans_read_this_post/). Low karma? Post your DRS on r/GMEOrphans + +How to [Filter by Flair & Search](https://www.reddit.com/r/Superstonk/comments/v0oxp2/how_to_filter_by_flair_search_for_posts_on/) on Superstonk + +Tag u/Superstonk-Flairy for user flairs, find [custom emoji options here](https://www.reddit.com/r/Superstonk/comments/v89p0h/new_superstonk_user_flair_emojis_how_to_edit_your/) +I see a lot of new options investors who seem to be confused about the difference between these two terms. I see a lot of screen shots showing 'breakeven' points, which suggest that a stock must reach the strike price for the trade to become profitable. + +This is not at all true. If you have a stock that is trading at $20 and you buy an option dated a few months down the road at a strike price of say $30 for $1 per share, the stock does not have to reach $30 for you to make money. + +If that stock rises a few dollars, the option will rise in value also. As soon as the value of the option rises above your cost plus commission, you can sell it and realize a profit. + +If the stock price rises above $30, then the option is considered to be In The Money. At that time, the option value will start to have intrinsic value on top of the remaining time value. It will rise almost dollar for dollar with the stock then. + +You can sell an option at any time, just like a stock. The expiration date is the last day you can do anything with the option, so don't wait until the last minute to act, but you can do as you wish at any time between now and then. +That's it. I'm out. Not from GME, mind you, but from the sub and the news. I've started to notice that some FUD has been crawling in the back of my mind and I think that the best is cut exposition to it from the root. + +I know my DD, I have my diamond hands I have my floor and there's no more DD that can make my tits more jacked than they are. + +I'll see you all when we're partying in zero grav, and we will. + +Londite out. +Hate that I feel like I have to say this. We don’t do dates. If nothing happens today, I will hold. See lots of jacked ppl. Don’t let your emotions influence your expectations . And if today is nothing but red or sideways, it’s not over. It’s just closer to the end. Not financial advice +I normally don't post analysis in this inbred, retarded sub (alarming how many of you don't realize private sub posts are not in my history). However, I'm feeling generous tonight and want to share this with you morons. Take it however you fucking want to, I don't care one bit. + +Also, fuck you Jartek. Sell out. + +*Disclaimer: I am not your fucking financial advisor.* + +[Retraced back to mid 50's, gathering momentum needed to break ATHs.](https://preview.redd.it/l84feu9o6pp41.png?width=1468&format=png&auto=webp&s=53fb2402d75903117bdc06731bf0c1aff22d3411) + +**Thoughts:** + +Leading up to this past week, it appeared the VIX was in a corrective wave 4 down to the low 50s (which was hit on 3/24) and it appears it will make its final wave 5 over a period of time. Nobody fucking knows how fast or slow this happens, and that remains to be seen. However, from the voraciousness of buying and selling in the market, combined with how many of your wives have boyfriends, it should happen sooner than later. + +VIX likely fucking bottomed near-term on 3/24 and I suspect this corrective wait should find major support around the 50 level. I am looking for the VIX to butcher its way to new ATHs, just like Carole Baskin butchered her husband and fed him to tigers. Not necessarily in a straight line, but the next leg down in equities is likely next week as cases in the US start to ramp up and ravage the domestic economy. Get fucking horny bears, it's cumming. + +Based on additional bull/bear profiles and sentiment, this is **UN-FUCKING-LIKELY** to be the bottom in the markets and I recommend people only scalp and swing-trade. If you do enter longs (retards), be prepared to lose an additional 10-15%. It is likely the SPX finds overall support (i.e. support where rallies aren't sold to new lows) somewhere around 1800 in my opinion. Yes, my fucking opinion. + +&#x200B; + +[breakout to $85+ = signal to initiate short postition](https://preview.redd.it/ftqdfhzv6pp41.png?width=1470&format=png&auto=webp&s=17c9566ec16877361f329ebbf2fda404d79099f5) + +**Trade Ideas:** + +Short term VIX calls, Long term VIX puts. + +&#x200B; + +* **EDIT: I will post my positions in this trade when I enter it and keep the thread up to date.** +* **3/31** **Updates** + * 9:08 CST - If VIX drops down to my target support at 50, I'll be entering 5/20 $70 calls. + * 11:01 CST - Entered into a few 5/20 $70 calls around 51ish. + * 2:36 CST - Lot of sell signals right now if you have SPY Calls. We’ll see if they turn into engulfing action bars as well. + * 3:15 CST - Reversal starting, hope you got out of your SPY calls bulls. + * Two marks to watch tomorrow, this will tell us where we're going on SPY: **254 - If we break and close below this, down we go. 264- if we get and stay above this, it will probably create a pain trade to 270-280 area.** + * See you all tomorrow :) +* **4/1** + * 7:30am CST - Bloodbath today. Watch for SPY 254, if we close under this today - we're going low + * 12:30 CST - no need to stare at charts all day today boys. Relaxing for the rest of the day, i'll check back in last 30 min of trading but today's just the start. + * 3:09 CST - +34% on VIX calls today, I see $AAPL breaking 238 and testing 234 tomorrow, if SPY doesn't fill the gap tomorrow, this is going to lows. I don't think it will fill with unemployment numbers but we'll see what happens. + * See ya tomorrow. Step away from the screens, relax, stay healthy. +* **4/2** + * 8:39am CST - SPY resistance at 252 if we pump up which I don't think will happen with the unemployment numbers that were released. Watch for 244 (low from yesterday). If we break through, we go to 240, then 234 after that. + * 9:35am CST - was wondering why that massive pump just took place, of course it was a trump pump + * 9:51am CST - looks like trump is still a fucking liar and piece of shit. Just tweeting lies. + * 11:19am CST - Unfortunately we can't predict trump pumps. Still holding all of my positions (VIX Calls, AAPL 4/17 puts, SPY 5/15 puts). Sitting on some cash I may put to work end of day on more SPY puts or QQQ puts (May exp). Going to see how rest of the day plays out, SPY is battling 252 right now. + * 12:23 CST - Added $1500 into more 5/20 VIX calls. $50 is holding super fucking strong as support as I said it would. Anytime this dips to \~$50, I will add into my position. + * 1:03 CST - andddd here we go + * 3:16 CST - end of day was guh. tomorrow should be interesting.. VIX held $50 end of day which was good to see but yeah that close was nasty. + * Final thoughts going into tomorrow- we'll see if we gap up to 257 or not. Above that, resistance is 264 area, if we break 244, path to 218 comes much faster. Normally I don't watch futures all that much but tonight i'll be tracking /CL closely. Crack open some beers tonight and relax, it's all good :) + * 7:18pm CST - /CL falling off a cliff right now, /VX popping, /ES just broke 2500. All the signs we're looking for tomorrow boiz. +* **4/3** + * Nothing like waking up to some harassment in the DMs this morning. Fucking relax guys, I'm not selling, I'm not worried at all, I'm buying more VIX calls. + * Keep in mind what VS posted this am - max pain at 251. + * 11:18am CST - Wouldn't be shocked if Trump launches a nuclear missile pump tweet soon. but in all seriousness, starting to look very bearish going into next week. Broadening top on the dow which is a reversal pattern. For people who don't want to google what that means,*"It is a common saying that smart money is out of market in such formation and market is out of control"* \- We'll see how this plays out. + +**4/5** + +Edit: just got banned by the mods for some reason lol [https://imgur.com/a/D0Ugo5P](https://imgur.com/a/D0Ugo5P) + +I've messaged the mods twice with no response but apparently I got banned for calling them fucking sellouts and saying u/stormwillpass has no right giving financial advice on TTG considering the stupid fucking cuck lost 6 figures selling naked calls on TSLA. My message to SWP [https://imgur.com/a/Ie31XS6](https://imgur.com/a/Ie31XS6). + +In the meantime, I can still keep my posts edited so I'll keep these up to date. Regardless of these stupid green futures and vix bleeding, I still fully believe we will see a vix pop. Stay tuned. + +here's my current position [https://imgur.com/a/zu8hsFR](https://imgur.com/a/zu8hsFR) \- currently down \~$500, will add more tomorrow at open. + +**1:46am CST** \- it's pretty common in major corrections to see a spike in the VIX with a 2-4 week rest period before retesting the highs. + +A lot of you are asking why the vix is down right now.. We crashed hard, it makes sense why the VIX is coming down and flattening. + +Was I early in this trade? Yes. Am I wrong? I don't think I am but only time will tell. Reality tells us there is another sharp, violent, leg downward, I wholeheartedly believe this will come at the same time oil corrects... When oil starts to correct downward, likely around $40, that should slowly act as the next trigger for the next sell-off. + +We'll see how we open tomorrow but wouldn't be surprised if we see a green week and our puts bleed out more. Obviously hoping that doesn't happen but we gotta be realistic and realize this market is irrational. If VIX drops to low 30's, that's when I would cut my losses on this trade. + +Goodnight. + +**4/7** + +Hi friends, swamped with work right now but still holding everything. Added RCL puts when it spiked this morning. + +**5:07pm CST** \- we'll learn more tomorrow but it looks like everything is coming together as we want it to. Also -RCL ended up being the easiest short I've seen when it hit $39 in the morning, up 80% and holding until it's back to sub 30 by Thursday. + +&#x200B; + +4/8- + +8:53am CST - Unbanned and it feels great. Jartek is a cunt. Waiting on a negative GEX and a DIX crash + +**4/13-** + +Entered in TQQQ puts this morning on the pop. + +**4/16** + +I'm not selling my VIX calls. + +The good news is I've made back a decent chunk of losses day trading tsla, rcl, & should have a ten bagger on my SPY hedge tomorrow. Doubled down on TQQQ puts, added a few more VIX calls. + +Shit happens guys, still believe there will be another catalyst that will make vix pop. Just trade within your means, this VIX play was 10% of my profits from the first crash so perfectly fine with losing it if it doesn't work out as I thought. + +GL everyone +Hey Folks! + +I was hoping for some experience with some banking apps that might help me with a bit of money management. + +My current setup; + +* 98% of my daily spending is done on an AMEX Gold Rewards Charge Card - £140 a year, but I gain that back every year in reward points alone and religiously using Airport Lounge access. Paid off in full at the end of every month from my debit account. Since I pay off the full balance every month, it has occasionally come in super useful to spread unexpected costs over to the next month without incurring any costs. +* Debit account is just a Lloyds account - this is where my salary is paid into, and 95% of my bills come out of - though things like Spotify/ Netflix come from my Amex. Get 6 free cinema tickets a year as a benefit. +* I drop various amounts of savings from my Lloyds on payday into a Cash ISA. +* Currently no credit card, got rid of one when I got the AMEX a couple years ago - considering a new one so open to that. + +As it stands, I effectively just keep an eye on both banking apps - *"Oh yeah, Debit has £1k in there after my bills, spent £500, got £500 left until payday"*. This has worked for me for about 6 years now - but with some costly home improvement projects on the horizon and general living cost increases, I've identified that lifestyle creep is really working it's way in and I need a bit of a new outlook on my finances to reign my spending back in again. + +A lot of my buddies are with Monzo, and I do really like the look of it. Love the idea of IFTTT integration and a bunch of its other smart features. I registered and downloaded the app last night, and was immediately super impressed with how it was showing the breakdown of my spending - even on my AMEX. + +My only issue is that for said feature, you have to be on the £5 per month tier - which seems a bit silly for just an app if I won't be using the card all that much. Are there any apps that can accomplish similar, without a subscription? + +My other alternative is to switch it up entirely and move my daily spending to Monzo, but then I feel like I'm losing out when it comes to AMEX rewards etc. (Particularly sore about the lounge access!) - Which I either keep for £140 a year, or get rid of - but they don't offer this card anymore! + +Opinions on apps or just general management appreciated! Thanks! +Got the following email from octopus last night: + +> You'll earn 1800 OctoPoints – that's £2.25 worth – for every unit of electricity you cut down between 5:00 PM and 6:00 PM on 15th November. + +I doubt I’m going to be saving many kWhs at that time as I’ll probably be out of the house doing the nursery run, as I am at that time every weekday. + +Is it worth even bothering switching off items of standby? TV maybe wifi router? Fridge/freezer would probably be fine off for an hour too. It just seems that this will probably only save me pennies. +Think, a few weeks ago u/WSBgod posts unreal gains. WSB hits mainstream. Open the r/all r/investing r/normie floodgates. + +Thousands of morons downloaded Robinhood and deposited their 1k life savings or student loans. In front of them was a dream. Make thousands, beat the market, easy money. Be a "trader". Be a bigshot. + +WSB does not take kindly to all the noobs, the influx disrupting the sub. Talks of going private emerge. Mainstream news articles on WSB continue to surface. + +Right as the noobs were flooding WSB, the SPCE posts were flowing. People cashing in big time. TSLA, SPCE.... Everything the sub touched turned to gold. They had finally found the secret society. + +"stonks only go up" "infinite bull market". The noobs throw all their money into calls. It's just that easy! + +Then, disaster strikes. The fastest drop in history. + +The beer flu news finally decides to influence the market, despite the market ignoring it for weeks. Within one day, all the newcomers are down 90%. What's going on? How could this happen? Many 'buy the dip' on Friday. Little do they know, the dip has only begun. + +Accounts hemorrhaging, some bail for good, some revenge trade - giving even more of their parents' hard earned money to Robinhood. + +The ones that were not completely wiped out - FOMO some puts. Others continue to helplessly buy dip after dip. All hope seems lost. + +If life wasn't going terribly enough, the Gods continue to deal their cruel blows. Monday morning, after many noobs are forced to hold over the weekend due to a late surge during an expected mass sell off - an unprecedented yet predictable catastrophe arises. + +Robinhood goes down. Unbelievable. Every helpless noob sinks deeper into the red, unable to exit their positions. The market takes to one of the largest surges ever. + +WSB again fills with wild gain posts. All while the noobs cry in despair from the sidelines. Surely we can make it back when RH comes back? Guess what. Down a second day. Another day of massive surge. + +RH comes back, thousands more noob orders fill, and thousands of noobs are still holding last week's puts. Now down 99% percent. Boom. Rate cut. How could it all go so wrong? + +Surely nothing else could possibly go against us. We'll win eventually right? The beer virus is on a killing spree. Surely my puts will print? + +SPY bouncing like an EKG, record volatility. How about the second largest one day market gain ever? Right at close? Sound good? + +Have no fear, WSB. The purge has occurred. Your sub is saved. Never in history has a group of people been so mercilessly eradicated - as the Feb2020 WSB noobs. The fascination is over. The damage will be far reaching, long lasting. Egos and bank accounts destroyed forever. + +I don't know if you all believe in a higher power, but it is hard to believe the God of WSB did not deal out these plagues. To save our land from conquest. There is no other explanation for this string of unbelievable events. + +And now, to add salt to the wounds, the noobs that come to see if everyone is losing as bad as they are - see hundreds of you donating your winnings to charity. + +This is a wild place. God I love it. +Hi UKPFers, + +For context, I just arrived in the UK (from Sweden) on a worker visa. I work in a well known tech company as a senior software engineer. I've been trying to open up a bank account and it's not going as planned. + +First I tried opening a Monzo account (my colleagues gave stellar recommendations about it). I got almost immediately rejected, so I sent them an email (hoping they made a mistake) they came back to me saying that they cannot open up a bank account for me and will not justify themselves for legal reasons. "Ok, weird", I thought. Then decided to apply for Starling, as it seemed as the next best thing, and got rejected within a day. + +I do not have any debt. I got a fairly good wage (£90k+). + +Any idea as to what's going on? + +&#x200B; + +EDIT: I now realise my comment about the wage was insensitive. I initially felt it was relevant as to why a bank wouldn't normally reject me but I now understand that a lot of people browse this sub to find solutions through financial hardships and it came across as douchey. My apologies. +Evening all, + +&#x200B; + +I've been reading through Monzo's literature on their upcoming crowdfunding operation (all £20,000,000) of it... + +&#x200B; + +Just wondered what people's thoughts are on investing in Monzo as it is a relatively new company and hasn't been made publically available on the stock market. + +&#x200B; + +Is it a 'safe' investment compared to other options? + +&#x200B; + +Will you be planning on investing? + +&#x200B; + +What are the benefits to crowdfunding at this stage VS waiting for it to be publically available? + +&#x200B; + +Thanks! +This is the biggest announcement by $MLFB so far. First time in their history they've had signed funding. The snowball is rolling and getting bigger as we speak. + +They stated the next announcements are cities and what coaches are going where, and their official season schedule. + +CEO Frank Murtha has recently put out price targets of 6 cents in May and 20 cents in June. He's been a very conservative CEO in his statements so that's big. Also predicts a 5 billion market cap within 5 years. Currently 13m or so + +https://www.mlfb.com/gallery#mlfb051022 +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. +My interest in bitcoin started back in February and I binge read stuff about it back then. + +Because of my low income, I sacrifice quite a lot of things to be able to save up as much money as possible since I want to be able to buy my own house as soon as possible. Meaning I only occasionally eat meat, fish, or even fruits (even though I love those!), I will only buy games during sales, and think twice before buying things not essential. + +I keep some emergency savings in bank, but all the rest goes into bitcoin (yes, I'm going against the rule of investing only what I can afford to lose for I strongly believe in Bitcoin) + +All these sacrifices paid off as I finally managed to stack 10 000 000 satoshis. +Green Man Gaming quietly started accepting bitcoin and Steam hasn't yet. When they asked about accepting bitcoin earlier this year, they received a lackluster response. Green Man Gaming is one of the larger online game retailers in the world. + +Here at Bitspender.io, we are going to highlight gaming deals at GMG for the next few days, showing that you can purchase Steam keys at a discount @ GMG. Let's show them some love. + +EDIT: this appears to be US only. + +http://bitspender.io/deals +I mean if some trades were at 0.00, sure. + + +I understand they're taking a cut out of my profits as well. + + +But 80-90% of them end up being 0.000 after their cut? When did I close in green? Is it because i close them at market and they "conveniently" null them? I mean I know I'm not taking huge gains, 6 bucks there, 4 there, 10 there. But why do they all end up exactly at 0.000? Not a decimal more or less? + + +Even more weirder is that it seems to affect my possitive trades waay more than my negative ones. + + +Help me out here this is deflating my will to continue day trading. +On my real account I typically break even. On my paper trade account I make an average of $1000+ a day. Could it just be the fact my emotions get In the way, or does TOS paper trading give you much better fills? +Like the title says, I'm looking at dire straights soon, not going to give a sob story cause that's not the purpose of this reddit or my post and I don't want to seem like I'm begging. + +My only question is if I should sell off my BTC now, or if you think there's enough chance that the price will raise enough to make a big difference in the near future. + +Update: I sold, thank you all for your advice, will try to update once I'm in a better spot +The GameStop drama got me to Reddit. It made me rethink the investing strategies I had for years. I started following too many subs. Too many opinions were circulating in my brain at all hours. The potential to make 20% returns tomorrow left me in a manic high. FOMO was eating me alive. I eventually dropped individual stocks and sat on index funds and ETFs. Shut it down for a couple of weeks. Felt freeing. Then the meme storm happened this week and all the noise in my head came back again. In summary: "Everyone is making tons of money except you." + +Trying to keep up with the next "Short Squeeze" or the recovery flavor of the week is truly exhausting. Which again, is why I fell back to index funds. + +I never thought I'd be wishing for a chance to just get a CD with 3% yield again to get through all this post covid volatility. +It's difficult to track GME's short numbers, but with EVERY AMC DROP, the available shorts for AMC would decrease. I have been monitoring this all day via [https://iborrowdesk.com/report/AMC](https://iborrowdesk.com/report/AMC).The numbers would fluctuate depending on the price. I am confident this is the case for GME as well, since they literally move in sync with eachother. + +I added to my positions in both and I am not selling. The gamma squeeze potential for both AMC and GME is monumental and they are doing everything in their power to stop us. + +Do not let them win. Do not fall for the tricks, smoke and mirrors. Do not fall for all the FUD accounts and tweets. Buy and hold. Today and tomorrow are super important to us. + + +Edit: Goes without saying. Them doing this just makes the eventual squeeze that much harder. +Everything thing I can find on this Covid treatment points to an amazing outcome. I've done as much DD as I think I can do and everything keeps influencing me to up my position. I truly belive their "drug" ( a VIP) will have a major impact on the global pandemic and our recovery from it. Is there something I'm missing? Phase 3 trial results will be released at the end of the month and phase 1 and 2 had great results with a 30 year safety record. They've secured product supply and manufacturing capabilities for 150,000 doses per month by January. They've partnered with a reputable private pharma company NeroRx for North American manufacturing and distribution. So who can tell me something bad about this investment? Why are you not investing? Thanks, + +Current position : 15,000 shares averaged at .57 + +Insider financial places a low evaluation of 2.83 SP and my PT is 5-20. +23M, 25k siting in bank. Thinking to put everything in index funds 500, is vanguard best choice if yes,which one index funds best to choose? never invested before. also I am saving for house but only planning to buy in 2-3 years time. thanks +This isn't FUD and I'm not a shill +This isn't financial advice either. + +Seriously I know I'm not the only one here who hasn't ever had a real win before and imagining yourself being wealthy is almost too much for your brain to handle. I know I can't be the only one here thinking "life is gonna throw me a curb ball and I'm gonna be force to sell all my stock to cover some bullshit" and then the rocket will take off and you'll continue to be poor forever. I know I can't be the only thinking "If I sell all my GME right now the MOASS will happen right after". + +But I'm also sure I'm not the only one who thinks all this and says "fuck it let's buy more". I'm either becoming rich or at the minimum I get to day dream of being rich. + +I'm not fucking selling! So thanks fellow apes for your patience and understanding. E + +👐💎👐🚀🌕 +The one thing I hear consistently about investing in the share market is to always hold as in the long run, it will recover. But yet we see massive sell offs from apparently emotional people who can't handle the pressure causing the price to collapse. I'm now starting to wonder whether holding is really the best strategy. I made a profit of a few thousand profit at it's peak before the announcements of interest rates. Now I knew shares were going to fall and they've been falling since as interest rates keep increasing. Again, not surprising, everyone saw this coming. But yet because I've been conditioned to just hold, I did. Now I'm thinking wouldn't it be better to sell now, take the profits and re-invest a few months later? I understand this is about timing the market, but the general consensus is/was what I mentioned before happening. Is holding really what investment firms and rich people do or is it just for us? + +&#x200B; + +Edit: Ok let me rephrase the question, *when,* if at all, would you sell your shares due to market conditions? +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. +I ask because, well, I'm definitely starting to waver a lot in my journey. + +It seems like I'm constantly recalculating my retirement numbers, irrationally hoping that I'll find some optimism that I could quit in a year, or quit in 4 years. Sadly, no matter which way I cut the numbers, no matter what caveats I add in(e.g coastFI instead of retiring early), there's just no way around the fact that it will take me a really long time to achieve financial independence. + +Given that, I don't understand why I shouldn't just continue to explore different jobs until I find something I like. I mean, it just seems kind of senseless to willingly be in a spot in life where I'm unhappy when I could just live in the moment. Granted, I think it's worthwhile to practice what is preached in FIRE communities to some extent, since it's pretty rational to tell someone to save money and prepare for the future possibility that you'll want to quit your job, but what's the sense in killing yourself to do that when you hate the job that you have right now? + +So, with that being said, any of you "lost your faith" so to speak? Did you come back, or have you grown into a more lax view of FIRE? +Hi all, i just woke up to an abuse complaint from CERTSI.es for one of my machines I rent in EU. a little bit of googling showed it was for the bitcoin node I run on there. they claim the machine is part of the flastflux botnet. Google pretty much shows this : + +https://bitcointalk.org/index.php?topic=1118701.0 + +I have to respond to my ISP within the next 16 hours (was 24 when I got the email) and make them feel warm and cuddly... or some such. has anyone else gotten this before? any points you made in your response to your ISP that I can use? I have 5 full nodes running across 3 continents and have not had this issue elsewhere so any help is appreciated. + +Thank you. +Hi all, + +I know we may see more downside over the coming months but I’m not expecting to time the bottom perfectly. I want to park some cash and I’m unsure of what the optimum pick is. + +I’ve been looking at QQQ and VOO and VTI and VGT. I plan to park the 50k for 10 years and add smaller increments in the coming years when possible. Is there very little difference in these choices over 10 years? + +Or should I just buy MSFT or GOOG? + +Any suggestions and thoughts would be greatly appreciated. Thanks. + +Edit- Really interesting input with all these replies. Many thanks to you all. I’ve been looking at some of the additional ETF suggestions and I’m currently thinking a VTI/VSUX is the best mix and fit for me. +So we want to redo the tile in our shower and this led us to making an appointment with a big box retailer regarding an estimate on the work. They had pushed their way in a bit, to be honest, by offering the appointment when they did a follow up on a repair to our dishwasher. We do want to have this tile job done so we said ok to an appointment. + +Young fellow comes by a few days later, really nice affable kid, looks at my shower and starts to talk about what we could do. One thing I notice early on is he says that he will want to get a yes or no before we are done today. I tell him straight out it will be no today because we have a rule that on these kinds of jobs we get at least three estimates and sleep on any purchase more than $500 for at least a day. He isn't perturbed by this and keeps going, indicating he is pretty confident I will change my mind by the time he's done his spiel. I tell him this is a hard and fast rule which we will not back down on. + +Now as we are discussing fixtures, colors and the latest in water resistant barriers the conversation shifts around a bit and we are getting chummy. We discuss our dogs and politics, just having a nice chat about life. I figure he is either going to try and use our new found friendship to manipulate this sale or he is just not interested in actually doing anymore appointments today. If it is the former, well that is why we have our large purchase rules. + +So the retailer the kid works for doesn't really have the exact look or materials that my wife wants but we have come up with a selection she is ok with but not super excited about. Regardless lets hear the price for what he has been selling as the best workmanship and the best quality you can find in this, albeit, form over function selection. So he quotes a price and immediately reduces it by a couple of things, like $500 off because I would pay cash and some other stuff. The grand total is about 30% more than I think a reasonable quote is from my cursory research and it's not even what my wife really wants. We want tile and his tile selection is poor, he is pushing acrylic as a much better option. He is adamant that it cleaner, cheaper and more waterproof. + +This is where I am really proud of us though. So of course this kid is actually going to try and hard sell me now. He had been trying to build up a relationship to attempt to guilt me into buying something I don't really want on the spot for too much money. + +He says he feels sorry for me if I don't go with his guys, they are the best. I tell him that the only proof I have of his claims that he is the best is him though. He is obviously flustered and hems and haws a bit more. I have a few pangs, feeling sorry for this guy, that's what they work on though. So I am a nice guy but not a dumb guy. I tell him, after 4 hours in my house, that I have my rule, it's a rule and I will let him know. + +Glad I didn't buy of course, it was too expensive and I saw a bunch of news clips that my wife found later about that retailer, their shoddy work and their many unsatisfy customers. I saw the exact same acrylic in all those bathrooms in all those news clips. + + + ffective **Wednesday 19 September 2018**, St.George will be increasing our variable home loan rates by +0.14% p.a. Rate changes include: + + +* Owner Occupier1 Principal & Interest Home Loan variable rate increasing by 0.14%p.a. to 5.36%p.a. (comparison rate 5.53%p.a.2) +* Owner Occupier1 Interest Only Home Loan variable rate increasing by 0.14%p.a. to 5.95%p.a. (comparison rate 6.11%p.a.2) +* Residential Investment Principal & Interest Home Loan variable rate increasing by 0.14%p.a. to 5.92%p.a. (comparison rate 6.08%p.a.2) +* Residential Investment Interest Only Home Loan variable rate increasing by 0.14%p.a. to 6.46%p.a. (comparison rate 6.62%p.a.2) + +Please note, the above rate changes also include Portfolio Loan, Basic and grandfathered variable rate products. + + +We carefully consider every interest rate decision we make as we know increasing interest rates impacts our customers. This decision reflects a sustained increase in wholesale funding costs. +Sorry if it’s a dumb question, but I’m still pretty new to investing so I’m not entirely familiar with what can make the market go up and down. Over the past couple months I’ve seen lots of people say that the march crash was just the beginning, and that we will see another downturn towards the end of the year and going into next year. What is the reasoning behind these predictions? +~~I guess I'm starting to wonder if the mods are in on the pumps.~~ It's insane the amount of repetitive low effort posts that mention a ticker and say its going up. My recommendation is to watch the stocks being pumped and when they take a dive scoop some up for a quick turnaround, because the bag holders will most likely pump it again. + +You'll notice these pumps by old PR and posts by these pumpers at ATH. Don't get caught up, do you own research and don't take someone else's word on "buy and hold for a month". + +EDIT: ~~strikethrough~~ because its offensive +There are two posts: + +\- [https://www.reddit.com/r/Superstonk/comments/qtr1nq/wtf\_happened\_with\_rsuperstonk\_subscribers\_at/](https://www.reddit.com/r/Superstonk/comments/qtr1nq/wtf_happened_with_rsuperstonk_subscribers_at/) + +\- [https://www.reddit.com/r/Superstonk/comments/qtrt6z/yesterday\_at\_exactly\_1900\_utc\_hundreds\_of\_users/](https://www.reddit.com/r/Superstonk/comments/qtrt6z/yesterday_at_exactly_1900_utc_hundreds_of_users/) + +Superstonk doesn't seem to remember that both times before the FTD rollover (May and August) there was a "movement". The first one was Ants buying in and then GME ran on no news besides the Ants buying in. Then all the Ants disappeared. The second (August) one I can't even remember, but there was some movement that was all the rage and it disappeared as soon as the FTD rollover finished. + +:EDIT: Below people reminded me that this was the "crypo game clan jumping in on GME" and then they all disappeared after the August run. Notice a pattern of people creating a movement? :EDIT: + +Now a huge Bot swell is happening before the next rollover trigger of November 23rd and I'm betting something is going to be a "movement" that will be used to justify the price increase. + +Here's Criand's DD: [https://www.reddit.com/r/Superstonk/comments/p37osl/are\_futures\_or\_swaps\_the\_secret\_sauce\_to\_price/?utm\_source=share&utm\_medium=ios\_app&utm\_name=iossmf](https://www.reddit.com/r/Superstonk/comments/p37osl/are_futures_or_swaps_the_secret_sauce_to_price/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) + +Here's FTD spike that suggests they may be avoiding a large November rollover: [https://www.reddit.com/r/Superstonk/comments/q8qctn/ftd\_for\_gme\_in\_2nd\_half\_of\_sep\_is\_out/?utm\_source=share&utm\_medium=ios\_app&utm\_name=iossmf](https://www.reddit.com/r/Superstonk/comments/q8qctn/ftd_for_gme_in_2nd_half_of_sep_is_out/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) + +P.S. If you remember what the August "movement" was please post what it was and I'll shoot to edit this. :EDIT: Answered by /u/djsneak666! Thank you. :EDIT: +So, it has been a while since anyone posted this and a lot of newer apes may not fully understand how everything is going to play out. + +1. The first boss is going to be the small fish that shorted, this doesn't really include the hedge funds, just the larger accounts mostly from retail who fell for the FUD and decided to short GME +2. Then the big hedge funds are going to fall, think Kenny and Stevie and plenty of other hedge funds +3. The hedge funds are going to run out of money pretty fast and still aren't going to be close to our floor, so then all the policies that the DTCC has put in place for the last year and a half to insulate themselves are going to go into effect, this will spread the load over all participants in the DTCC (hedge funds, and brokers) +4. This still isn't going to be enough, so the DTCC will then be on the hook +5. Again, this isn't going to be enough so the flaming pile of shit is going to end up on the FED's doorstep, this is the final boss and is when we will reach hundreds of millions per share. The entire market will be on fire by this point as well, so congress is going to be looking for a scapegoat, and this is also when we are going to start seeing cells. + +Remember, no cell, no sell, the floor is a telephone number with a country code. +I am happy to be able to get paid at a young age and I just bought my first Vanguard ETF on the S&P 500 index. I also have $100 dollars in my Roth IRA account. Citizens bank savings account is up to $154.50 and checking account is at $555.26. I know these are small numbers, but with time they will grow. + +I recently had a very inspiring conversation with a gentleman who was staying at the hotel. We talked about everything from my life plans, to where we were investing our money, to family financial situations. + +Once thing that he said to me really stood out to me. He said that if I really want to scale my career and start making a REAL salary (not $9/hr practically minimum wage) that I would need a college degree. + +I honestly agree with him, but I have 2 issues with college: + +Issue number one is that I have never been passionate about anything related to academics or education. + +Issue number two is that I don’t want to put myself into debt with student loans. + +Given the following information I’ve written above, what would you recommend is my next step? The Hilton offers a 401k match after you’ve been with them for 1 year. What if I were to just bite the bullet and stay strong and stay with them for the next couple of years? + +Did I jump into the workforce too early in my life? I have a good “human” skill set i.e communication, interaction. The skill set that I am lacking is some form of higher education/degree that would enable me to apply for, say, a computer software company, or a biochemistry lab. Something more intricate than guest service/personality based jobs. I often find that the more intellectual your job title is, the more money you make. As an example, someone that keeps track of company finances and works with lots of numbers is almost certainly going to make more money than someone who just checks people in and out of a hotel room. What do you think of this perspective? + +One thing I plan on doing is asking one of my superiors how much money he makes. Hes been in the hotel business for 6 years, and is a great colleague and has been really helpful throughout my introduction process to this job. + +Any insight/opinions are welcome. I am hoping to get responses from people who are making good money and doing well for themselves, and will definitely inquire with you guys on whether or not a college degree helped you get there. + +Thanks and I look forward to reading the replies that this (hopefully) gets. +It's insane how quickly sentiment changes here. Celebration to despair in the blink of an eye. It's easy to get swept up in the panic when everyone is talking about how the bear market is here, coins are going lower, etc. "Next stop btc 20k! Eth $600!" As soon as we get green candles again, it's all forgotten. + +Don't put yourself through the mood swings. Get off reddit, go down to the pub and wait for it all to blow over. +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. +https://www.investing.com/indices/us-30-futures + +Backing off a bit now... -980 or so + +Edit: Dow -1060 at 647pm et + +Edit2: Great, now the [North Koreans just fired off an unidentified rocket](https://www.cnbc.com/2020/03/08/north-korea-has-fired-an-unidentified-projectile-south-korean-military-says.html)! The good news keeps coming /s + +Edit: Dow -1260 at 1032pm et + +Edit: Trading on the [NASDAQ has apparently halted](https://www.nasdaq.com/articles/stock-futures-fell-fast-enough-sunday-to-trigger-a-trading-halt-2020-03-08)! Looks like a "level one" where halt is momentary +I decided to look into how accurate Kiplinger's 2015 stock picks were before I took a look at their 2016 list. [Here](http://www.kiplinger.com/slideshow/investing/T052-S003-25-best-stocks-for-2015/index.html) is the original article. And [here](http://www.desli.de/?o=html_table&u=http%3A%2F%2Fwww.kiplinger.com%2Fslideshow%2Finvesting%2FT052-S003-25-best-stocks-for-2015%2Findex.html) it is as a list rather than a slideshow. + +[Here](http://imgur.com/YotlK2m) are my findings. Looks like Kiplinger's picks weren't so hot this year. Just remember to think twice about listening to those lists! +In one fell swoop, Oyster effectively eliminates the need for online advertising *and* facilitates secure, anonymous, decentralized file storage on the IOTA Tangle. Here's the short version of how it works: + +Storing any significant amount of data on the Tangle requires many transactions to be made. Each transaction requires proof of (a very small amount of) work. Oyster is basically a way of crowd-sourcing that work from the visitors of websites that are running the Oyster protocol. Website owners are rewarded with PRL tokens, which represent a right to use those crowd-sourced computational resources to store files on the Tangle. + +As long as there are people who are willing to pay for secure, anonymous, decentralized file storage on the Tangle, PRL tokens should be readily exchangeable for cash, which makes the Oyster protocol a practical alternative to traditional advertising. It's ultimately just another (slightly more roundabout) way of turning traffic into revenue. + +EDIT: I almost forgot to mention that as a bonus, Oyster will significantly improve IOTA's security and transaction speed! + +[Here's the long version.](https://oyster.ws/OysterWhitepaper.pdf) + +[Here's the website.](https://oyster.ws/) + +[Here's an article about the recent branding overhaul and new hires.](https://medium.com/oysterprotocol/oyster-pearl-team-update-a40fd8abed83) + +[Here's the FAQ.](https://www.reddit.com/r/Oyster/comments/7n3t23/faq_oyster_read_here_first/) + +[CoinMarketCap](https://coinmarketcap.com/) is currently showing the wrong circulating supply for some reason. It should be about twice as high: $62,366,927 per the FAQ. That puts the current market cap at about $162M (or #149 as of this moment.) +I’m 24 with only a $1500 credit card. I’ve never had much desire to have big credit cards as financial things like this were never talked about much in my family as we were low income so credit cards were bad. + +I do have my credit card to the limit, as I’m always around $1000-$1400 on it but always pay more than my minimum payment. I’m still a student so having income to pay it off rapidly just isn’t possible right now. I saw an offer that I’ve been approved to increase my limit to $3000. Is this a good or bad idea? Does it reflect my financial health as being good or bad? I’ve read conflicting things, that I should for a decreased credit utilization ratio, but also not to if I am bad at paying it down. I wouldn’t say I’m bad at paying it, but I’m not paying it off rapidly. +I have a little over 40k to my name. I want to buy a car that is 25k. But I want to move out of my dad’s within the next year and it’ll be my first time living on my own. I was wondering if I should buy the car 25k total or put down 15k so I could have more money left over for moving out plus life stuff? or is that stupid? I don’t know what to do. + +My payments are gonna come to around $250-$300 a month and then I was kind of freaking out that I wont be able to pay rent on top of the car payment plus everything else monthly like that. But then if I only have like 15k left to my name I’m going to feel like I’m “broke”… +What are the reasons to finance a car rather than buying it outright? +42k 2.25% interest. Isn't the insurance for a car that the bank owns more than if you own it outright? +Hi All! First time posting on Reddit. Been a long time lurker but I’m in a tough spot and need some advice. My wife and I currently own our home that we built in June 2018. We just refinanced it two weeks ago to drop the interest rate and PMI but this past week while walking our dog there was a shooting about 50yds from where we were at the time and the wife no longer feels safe. We’re in a nice developing neighborhood in the Denver suburbs but are close to some less than stellar neighborhoods so crime is creeping in. So on that note, here are some facts: + +- Original price was $434k +- closing costs between the two financings were about $10k +- Interest paid to date is about $27k +- put about $10k into the home +-404k left to payoff for refinanced mortgage +- looking to list for about $475k based on comps, using a realtor. This would net us somewhere in the $35-40k left over. + +- looking to buy another home in the low 500s + +-205k annual gross income with $50k+ in variable comp combined +- have about $10k in credit card debt we want to pay off with our YE bonuses. We use our cc like a debit card. This is mostly from holiday spending. Not normal for us to carry this balance. +- also plan on paying off $21k of student loans to free up about $570 in monthly payments with the bonuses. +- keeping our existing house and renting, and paying off the credit card and student loans will require us to take a loan against our 401k for about $15k for the down payment but plan to pay back within 12 months, which is realistic in ourbudget +- we’d break even on rental income and mortgage payment on the existing home based on info I’ve gathered. At worst, lose a few hundred a year. + +My concerns are that I don’t want to continue to remain in debt to rent out our existing home but I don’t want to pass on additional income and this investment in the home down the road. I’m unclear if I should be generating income right away or if breaking even on the rental property is fine for the first few years. In my mind, renting the home, buying a new home, paying off the credit card, and paying off student loans all in a 12 month time frame is realistic based on our income. I just don’t know if the stress over the next year or so is worth holding onto the property. + +My gut tells me if I can swing it, swing it. Would love to know others’ thoughts on the situation. Sorry for any errors, I’m on mobile. Let me know if any other info is helpful and I’ll add. Thank you in advance! + +Edit: formatting, additional info. +My company probably like most let’s you put a percentage of your weekly or biweekly salary into a 401k plan. What happens if you max the yearly amount early? Does payroll just stop the contributions? Interested in how that works. +Heyo Reddit. +I am close to being debt free so I can invest. +But I owe 12.5k on my car I can sell it for 11.7k. +Should I do this and pay the difference so I can be debt free faster? +Or should I grind hard for one year and pay it off? + +Thoughts? Comments? Suggestions? +I’m planning to purchase a home and was going to use savings account for down payment. However, I could pull from 401k for the down payment and pay of my student loan with savings to be debt free. Would also also make the monthly mortgage payment more affordable. What should I do? +https://www.bloomberg.com/news/articles/2020-08-26/fed-seen-holding-rates-at-zero-for-five-years-plus-in-new-policy + +> The Federal Reserve looks likely to keep short-term interest rates near zero for five years or possibly more after it adopts a new strategy for carrying out monetary policy. +> +> The new approach, which could be unveiled as soon as next month, is likely to result in policy makers taking a more relaxed view toward inflation, even to the point of welcoming a modest, temporary rise above their 2% target to make up for past shortfalls. +> +**Edit**: His post was removed after a "change in the tide" and his newly created subreddit was insta-banned. I'm going full retard and claiming that vested interests don't want this idea to be successful. Because if we as a community pull something like this off - their game stops, and we write our own rules.. + +So please upvote this (no awards, the orange pixels will do the job) and get this info to our community + +*Note*: I have nothing to do with the project. No self promotion here... Also - I looked in hot, new and Top "now" and found no discussion + +**Main**: Earlier there was a post by u/dlauer promoting a survey for the creation of a new platform that integrates real data with community DD. + +&#x200B; + +[Mod comment on removed post](https://preview.redd.it/1g39rqjh5x571.png?width=1461&format=png&auto=webp&s=003dcc1fbbc4b675e6b75c084add7f6a925fce2c) + +Now, I understand the self promotion rules (I dont - because I've seen plenty of top post linking their YT or Twitter) I understand we need to be cautious. + +But ultimately what better group to get feedback on this idea then an critically engaged, smooth-brained yet informed, collection of Apes who are doing exactly what we are doing here + +We who like the stock have a world to change post MOASS. Good things take time. Why wouldnt we start now? + +[\*find a broker with TRILLIONS - Or make your own](https://preview.redd.it/9gfr5eob6x571.png?width=1201&format=png&auto=webp&s=92147300b3cca35afca09c1b361eed33d4a5bab9) + +Anyway. Here is a link to the [survey](https://urvin.finance/?fbclid=IwAR3LeIOLfPVcxBkcby265N_eG73uwZIO5eLKNgM4Vai7SxO5n7SxI7kQ1nw). I implore apes to fill it out. + +<3 you Apes. +Hi all, I am early 30s Canadian living in Toronto Canada. My questions is around owning a second home. I do quite well financially, and would like to look into owning a second home sometime in the next few years. + +I specifically am thinking of looking at Arizona, or the SW USA in general, and because I have no sort of citizenship I would not be living there for the majority of the year. I also would not be able to work while there. + +My question is: In general, for second homes where you do not work in the location, how do you develop a sense of community? Is it difficult to establish a friend group and connections? This question could be applied to anyone who has retired and has a second home somewhere where they do not have roots. + +Apologies if this breaks any rules, I thought it was FAT-Fire related as it pertains to owning a second home. + +Would appreciate any insight, and thanks! +Hi all, + +New on the forum, thought I'd ask for some advice. + +I am Europe based, 31 years old, have recently been promoted to a leadership position in a small private equity company, making c. 150-300k and per year, depending on the year. + +We have a small family business, making 200k in net cash flow per year, but with low scalability. +I have always dreamt of being an entrepreneur, and I am tempted to jump into the family business and aim to grow it through small acquisitions in a number of fields. The aim would be to create a "mini berkshire" model where I create a holding company which acquires small and medium sized businesses. +I have additionally already got some commitments from friends&family type investors who could participate in the first acquisition by a few hundred k. + +I do not enjoy my current job and do not see myself working in high finance, however when I raise my hopes/plans to people close to me, they all seem to think this plan is crazy and that Im reckless in leaving my cushy job. + +Any words of encouragement from the forums entrepreneurs? Or discouragement for that matter. +Throwaway. 33M married NW 1.5M rural Canadian physician. NW consists of home equity + 1M global diversified all-in-one etf. + +Gross Income in corporation 650K +Corporate Savings ~400K/year +Hours: 50/week 4 weeks vacation (2400hrs/year) + +A bit tired, I do need to work weekends, evenings, nights at times. Still have time for self/family + +Ability to titrate how much to work down to the hour. + +FI goal 12M (arbitrary), as you can tell my expenses aren’t very high currently but it will go up of course in the future with kids. +Seems like I will hit this FI goal in about 12 years at age 45. + +After I hit my FI goal I will probably “retire” and work 1/3 of what I do now and bring in around 200K as it’s meaningful work and fulfilling. + +Question for you is I can’t figure out the right amount to work? + +Not more as I don’t want to burn out and this is probably my limit. Also I won’t really have much of a drawdown period/retirement since I intend to stay in practice in some capacity. This will likely result in me overshooting my FI goals when I retire for real/die. + +How much less though, as I could work 40 hours a week and make 500K, 30 hours a week and make 400K? + +Those hours would be easy but seems crazy to me to leave 150K-250K on the table?? + +Also might be wise to enjoy my youth more as this time is short and not guaranteed. + +How would you set your hours in my shoes? + +Thanks! Appreciate the wisdom of this group. +Unfortunately this is not one of those posts where people are expected to list the most extravagant options, I know you can spend 400k for a kitchen + +Yet, I’m buying a 1250 sq ft apartment in a central VHCOL and don’t mind spending some money so I’m hiring an architect / designer to have a nice refurbishment and to completely rebuild the kitchen and bathrooms but budget is not infinite. What are the most essential “fat features”, especially in kitchen and bathrooms that I should make sure I include in the brief? +Hello r/fatFIRE, + +About me – I’m 60 years old and looking to retire December 2019. I have about $6.5 million saved today. + +I want to understand what I can reasonably plan for from an income standpoint. I may be 100% wrong, but the 4% rule seems too conservative when looking at a more diversified portfolio that, to me, doesn’t seem too risky. + +I would like to safely generate about $325K (5%) pre-tax from my portfolio and ideally, I would like some (1-2%) portfolio appreciation; most importantly, I don’t want my principal to shrink. The appreciation is for my heirs and is not as high a priority. So, overall, a yield of at least 5% to me and 6-7% overall. + +The portfolio I am thinking of is as follows: + +· Real Estate: $1.5M @ 8% annually. (This will be a mix of publicly traded REIT’s, LLP deals and other qualified investments) + +· Preferred Stock: $1M @ 6% annually. + +· MLP’s: $250K @ 8% annually. + +· Dividend Stocks: $2.25M @ 4.5% annually. + +· Growth/Value Stocks: $1M @ 2% annually. (i.e. lower dividend growth stocks with some growth) + +· CD’s or similar: $500K @ 2% annually. + +This portfolio yields $331K (5.1%) and is mostly taxed as capital gains (not the RE, though). + +My thinking is that I would plan to live on the cash/CD’s and that distributions/dividends would replenish that cash. $500K is about two years after tax, so in the event of a downturn, I could avoid having to sell part of my portfolio if the income slows/stops for at least two years. + +Obviously, there are more details regarding taxes, when I take Social Security, etc. + +I want to try to keep this simple, though and ask what am I missing? Can I really generate 5% from my portfolio with very low risk? Am I being too aggressive? + +Thanks for the help! + +Update 1: + +First, thank you for your responses – they are really helpful and I appreciate the time people have put in to helping me. + +There have been a number of questions about spending, inflation and goals… + +SPENDING + - Healthcare!: for the first 3-4 years I will have to buy private healthcare at $45K annually (yes, that’s a real number); once I can get Medicare, I think it will be closer to $15K annually for supplemental coverage. Going without is not an option because I did have a serious issue earlier this year. It’s really shocking to see how much this costs for early retirees. + - Fixed costs: $80K – property taxes (I live in the SF Bay Area, so high and my wife won’t move), various insurances, a couple 0% car payments, etc. + - Variable costs: $170K – gym/personal trainer, trips & entertainment, hobbies, helping the kids, etc. (unlike most of the FIRE community I don’t have a problem spending money ) + So, I have a lot of flexibility regarding spending. + +INFLATION +I should have stated this in my original post, I did not explicitly plan for inflation in the numbers but I did in terms of my spending habits. In other words, because of my age (almost 62 at retirement), I am assuming that I will be operating at 100% activity level for ~10 years – through my early 70’s. Then I will slow down (as a necessity) and my spending will drop (I have some very expensive hobbies that will get scaled back). So I am assuming that my reduced spending power will be met by reduced spending. + +GOALS +Ideally, I would leave most of today’s principle for my two kids with some growth over today. That said, I started with nothing and they can too and my wife and I are helping them out now anyway. + +SOCIAL SECURITY +I didn’t include this in order to leave a buffer. For my wife and myself this would range from $33K annually at age 62, $47K at 66.6 or $60K at age 70. A financial advisor I once spoke said he always recommend that people take the early payout because (he believed) that people always benefited from more $$ early in their retirement when they had better health and were more active. This is TBD for me. + +I figured I might get some insight into this since we have a lot of doctors and lawyers on here. I am 30 and worth 1.2M and considering options regarding marriage to an individual with $225-$260,000 in student debt earning $90,000-$150,000 for the next 5-10 years. + +I earn $400-$750,000 but defer quite a lot for tax benefits. Any insight into the pros/cons of the 3 structures in the title? +Aspiring FatFire individual here, doing it mostly through real estate. Just wondering how much leverage is to much across all your investments, especially if its to buy income producing assets? +I haven't experienced this myself, but people are talking about having ADA withdrawals blocked towards the end of the epoch. Binance is motivated to do this because a 'snapshot' of staking wallet balances is taken at the end of the epoch, and staking rewards are calculated based on that. This is highly unethical however , because it means Binance is staking other people's ADA, collecting those staking rewards, and making the ADA unavailable to the owners when it suits them. Supposedly the hold on withdrawals can be as long as a full day before the end of the epoch, but typically happens at least an hour before the end of the epoch. + + +I think this shows a very blatant disrespect for their users' crypto which they're supposedly holding in custody (I know, NYK NYC), and the greater crypto community should be aware of this +Maxeon Solar Technologies split off from Sunpower a couple years ago, with Maxeon being the global producer and Sunpower being the US producer and distributor. + +Onto the valuation: they have a market cap of about 1b with revenue of 1.2b in 2019, about 900m TTM because of the pandemic (from now on im primarily gonna reference 2019 stats since it seems unfair to use 2020). + +Gross profit improved from -104M to -8.4M 2018-19, net income improved from -603M to -183M. + +They have about 2.1 price to book value. + +The valuations are okay but what really makes the difference here is their products. They make the highest efficiency and lowest degrading solar panels in the world, and are looking to move into the microinverters, energy storage and even services industries in the next few years with a partnership with Enphase Energy. + +As well as this i believe their core panel production business will continue to expand rapidly as it has done, with a CAGR of 28.1% compared to industry’s 19.5%. + +Being in such a quickly growing industry, and the leader in quality, you’d expect them to have a much higher market cap. This is due to them making a loss the past few years, but i believe they’ll soon swing to profitability and see a massive increase in stock price when that happens. + +If you don’t like investing in currently unprofitable companies, try Canadian Solar $CSIQ and JinkoSolar JKS. Both down 45% ish and with low P/e ratios. + +Personally, i’ll be splitting my money relatively evenly between the three to hedge my bets and capitalise on the rapid growth of solar globally regardless. +I see a lot of Robinhood discussion, and I noticed something the other day, so I thought I'd post here. + +There's an SEC rule that says that when you submit a market order, your broker has to either route it to the exchange with the best posted bid/ask or internally match, or beat, the best posted bid/ask. The best price is called the National Best Bid and Offer (NBBO) price. + +Robinhood says [this](https://support.robinhood.com/hc/en-us/articles/208650426-Trading-on-Robinhood): + +> Please note, all market orders for equities, if filled, receive the National Best Bid and Offer (NBBO) price because our executing brokers are bound by U.S. Securities and Exchange Commision Regulation NMS. + +I use Schwab. The other day I entered a market order for about $20k worth of an ETF. I paid a commission of $4.95. Schwab beat the NBBO, saving me about $60 compared to the NBBO. How? + +Schwab has a [good page explaining](https://www.schwab.com/public/schwab/active_trader/trading_tools/execution_quality/price_improvement). +>Why do price improvement opportunities exist? + +>In the equity markets, all available liquidity may not be displayed in the NBBO. Market participants may choose not to display their orders to avoid revealing their trading interest. To accommodate those traders, securities exchanges and ATSs allow them to post their orders anonymously and not publicly visible (“dark”), away from the publicly displayed (“lit”) quotes. Accessing this better-priced non-displayed liquidity creates opportunities for liquidity providers to improve your executions. + +> In addition, when executing orders as a market maker, a liquidity provider is often willing to trade at better prices than the NBBO for customers of a firm like Schwab because of their established relationship with us and experience with the nature of our order flow and routing process. + +So, Robinhood is great for starting out. Once you are making trades in the $10k range, it probably pays to move to different broker. + +> **Uber is cutting 3,000 more jobs less than two weeks after an initial round of layoffs, CNBC confirmed Monday.** + +> **In an email to employees Monday, CEO Dara Khosrowshahi said Uber would also be shutting or consolidating 45 offices around the world and it is considering cuts to other businesses, like freight.** + +> The news was first reported by The Wall Street Journal. + +> “Having learned my own personal lesson about the unpredictability of the world from the punch-in-the-gut called COVID-19, **I will not make any claims with absolute certainty regarding our future,” Khosrowshahi said in the email.** “I will tell you, however, that we are making really, really hard choices now, so that we can say our goodbyes, have as much clarity as we can, move forward, and start to build again with confidence.” + +> **Uber’s last round of cuts on May 6 impacted 3,700 employees, which was 14% of Uber’s workforce at the time. This new round of cuts would leave Uber with about 20,000 employees, based on its latest available headcount figures.** + +> Khosrowshahi told employees in the email that Uber has “worked to provide strong severance benefits and other support for those leaving Uber, like healthcare coverage and an alumni talent directory.” It is also taking special considerations to support people on U.S. visas or parental leaves, he said. + +> This is breaking news. Please check back for updates. + +[CNBC](https://www.cnbc.com/2020/05/18/uber-reportedly-to-cut-3000-more-jobs.html), +[UBER stock price](https://www.cnbc.com/quotes/?symbol=UBER) +https://www.bloomberg.com/news/articles/2017-01-09/blackrock-quants-sustain-record-losses-in-setback-to-fink-plan + +> Some of the quant group’s deepest losses came in the first few months of the year, when markets plunged before bouncing back sharply in late February. Many quant shops stumbled, but a big reason SAE missed the rebound had to do with BlackRock’s own investment policy. It instructs the team to sell when losses become sizable, regardless of what its mathematical models say, according to a person with direct knowledge of the matter. + +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. +[Here's](http://www.madfientist.com/first-year-of-freedom) The Mad FIentist's 1 year FIRE anniversary post. + +Some pretty insightful thoughts and lessons learned from life post-FIRE. +Using a throwaway account. I've been tracking my net worth for a little while now and just realized I've crossed the $1mil mark! Pretty stoked - too bad I can't brag about it to my brick & mortar friends. I'm in my late 30s, grew up in a poorer family, living in a HCOL area, hold a standard corporate gig, and been frugal my whole life. Stumbled across FIRE in the past few years. My income gradually grew, but I always kept my expenses the same - no lifestyle inflation. + + +If anyone's curious - these are my ballpark net worth numbers over the more recent years. Note that these figures were not jotted down at the same time/month each year, so it can’t be taken at face value as true yearly growth. Would have been nice if I tracked it more methodically. + + +2013 - 270K + +2014 - 295K + +2015 - 459K + +2016 - 602K + +2017 - 723K + +2018 - 864K + +2019 - 1 mil + +Lessons learned: #1) I bought into individual stocks due to tips from friends over 5 years ago. Still have some of them, but overall, lost about 30K. Never touching individual stocks again - index funds from now on. #2) I had been into the FIRE way of investing in the mid 2000s. Stopped investing in the market during the crash of 2008 and got busy/lost interest for almost the next decade. Didn't get back in until the past 1-2 years. Lost out on a ton of gains. Should have never stopped in 2008. + +I can't believe all the lies and misinformation that was spread about this company, I was literally betting on a short position but just decided to watch everyone manipulate each other and so far I haven't seen anyone crying too hard. But be careful around here guys, MANY people are getting paid to post stuff to /r/pennystocks. +Poor financials and worse guidance - Check / +Erratic leadership - Check / +Fierce manufacturers competition with better margins - Check / +Insiders selling stock - Check / + +What else you all need, an autopilot system that fails regularly and causes car crashes? +It seems the status quo is to completely avoid teaching about life’s milestones in school. Is it perhaps assumed that the conversation is best handled between student and parent/guardian? If that’s the case then why do we even have sex ed. +This year is my first year out of college with a job, so I figured it would be good to finally get to serious tracking of my expenses over the year. In college I was on campus housing and a meal plan, so my monthly expenses were mainly entertainment and gas. Since those were small, I put off on any monthly tracking and just spent within what I thought was reasonable. Overall it worked okay, I had enough to do so with spending money from working, but I lacked any overall accountability on how much was going out. + +For context into my current situation, I am a 23-year-old single male currently employed as a Product Development Chemist within R&D at a manufacturing company. I am renting a 1 bed 1 bath apartment in the downtown section of a large town in central Pennsylvania. + +&nbsp; + +**Data Collection** + +I used the export statement function in American Express to export my monthly expenses. I then manually entered in expenses from my checking account. I broke each expense down by category and then placed the summed total for each category in an Excel spreadsheet. This took roughly 10 minutes each month to track. + +For monthly income I used my base monthly pay from work. There’s little deviation from this month-to-month; any deviation would be an increase to add in reimbursement for work travel in personal vehicles, and would not account for much (~$30 per trip, <1 trip per month). This value is my take-home pay which is my salary post-tax, 401K, and HSA contributions. + +&nbsp; + +**2018 Categories and Initial Budget Set** + +After January’s expenses came in I broke down the categories and set an expected budget for each. This estimate was considering the average per month, but as I had little experience in expenses throughout the year, I expected these values to differ from what I initially listed. + +Rent ($800) + +Internet ($40) + +Electric ($160) + +Groceries ($310) + +Gas ($60) + +Auto expenses ($60) – Non-fuel expenses, such as maintenance and tolls. + +Student loans ($1,000) + +Personal care ($35) – Haircuts, health items, etc. + +Entertainment ($150) – Food/drink out, movies, alcohol for home use + +Miscellaneous ($100) – Catch all for other expenses, gifts, cash withdrawals, or when a single shopping trip has multiple categories covered and I misplaced the receipt for breakdown. + +Subscriptions ($41) – Netflix, Spotify, gym + +&nbsp; + +**2018 Monthly Expenses** + +[Expenses by month](https://i.imgur.com/hWUNry7.png) + +[Average expense per category](https://i.imgur.com/P3GlUuJ.png) + +The graph shows the changes in my expenses as the year progressed. As the year progressed my expenses grew but they settled in appropriately. A large portion of this chart is in student loans; I decided that I have enough income to pay off early and in excess. Currently I am paying more than double my minimum payment across all loans. + +Looking at the averages of my expenses show how my initial estimates were compared to actual. I took out January expenses from the average as it was not a complete month of living on my own and tracking expenses. I’ll be adjusting some of the monthly averages for 2019 to better estimate monthly values. On average 20% of my income is being placed in a high yield savings account for short-term goals. + +There are some expenses not captured in 2018 data. The major ones are insurance, furniture, and vacation. Insurance is renter + auto and is approximately $65 per month; I was gifted both covered for 2018 by my parents, but will be switching to covering it myself in 2019. Furniture was a major one off expense to buy a mattress and living room furniture, and it totaled approximately $2,000. Lastly, I went on a family cruise vacation over the summer which came out to be approximately $1,400. I elected not to capture these major expenses in the graphs and data as they were one off and the main goal of me tracking was looking at the more routine expenses. + +&nbsp; + +**2019 Budget Revisions** + +I’m going to keep up with the tracking for 2019. I know that I will have some changes to my monthly budget to better track it based on what I know from 2018. + +Rent, student loans, personal care, entertainment, subscriptions – No change + +Internet – Up to $60 (+$20). First year was their discounted rate for the package I am on. I will keep the same package as it is enough for me and guests. + +Electric – Down to $100 (-$60). + +Insurance – Up to $65 (+$65). As mentioned above I will be covering this myself for 2019. + +Groceries – Down to $250 (-$60). + +Gas – Up to $105 (+$45). Once spring hit, I drove for activities like fishing and biking. I also took some trips to visit friends and family, which was not captured in the first month. This is approximately 3 fill ups per month. + +Auto expenses – Up to $75 (+$15). My vehicle reached some maintenance milestones at 60 - 70K miles, plus a new set of tires, which put this category above my expectation. I don’t have any major planned expenses / maintenance for 2019. + +Miscellaneous – Up to $125 (+$25). Christmas gifts and first year apartment expenses put this above what I had originally expected. I want to better divide expenses this coming year instead of just putting them here. + +&nbsp; + +**Learnings** + +Doing this for my first year out of college really helped me see where my money is going and provide guidance for saving for future goals. From the start I knew that I didn’t need to be strict on the budget in order to meet my financial obligations, so this was mainly used as motivation to save more. Taking that 10 minutes a month to see where my money was being spent helped to push for reasonable spending. + +Another important thing I learned is the variability in some expenses. While things like rent, loans, and groceries are easy to budget, expenses like auto care and entertainment are more up in the air. For entertainment it depends on if I do trips to visit friends. A single weekend trip cost me $200 in food, drink, and other entertainment. This wiped out that expense category for the month in two days. Similarly, car tires cost me eight months of my original estimate. I knew tires were in the plan for this year, but for future issues I may not know in advance. + +My plans are to continue putting money away into savings towards my shorter term goals as well as up contributions to retirement. I also want to continue paying over on my student loans to knock down the principle more while I have the free funds to do so. + +Hope that this information can be helpful to someone out there. I know when I was ready to graduate I had a lot of questions on what I can and can not afford. Tracking these expenses helped me know how much of my take home is actually for fun or savings and not necessities. Believe it or not, it was fun to get my monthly statement and update my sheet for the month. I absolutely suggest to everyone just leaving college to build a basic budget like this, even if you are in the position that you are easily able to meet all your needed expenses. + +A proof-of-stake coin just halted its blockchain becuase due to price crashing it became much cheaper to do a 51% attack. Bitcoin doesn't have this problem. + +&#x200B; + +Remember to stick to ONLY BITCOIN never buy any altcoins they are scams. Bitcoin will keep you safe +As the title says. Im into crypto for one year but I still feel like a noob. I dont think Im stupid or anyhing else, but need more time because there is a lot to learn here. + +God knows I tried. Short trading, daily trading, medium trading. Trying to preddict the price never worked for me and in 90% of the time when I sold, I would always stay locked on my phone checking the prices every 10-15 minutes.When Im outside with my friends I would check the prices untill the battery dries out. Ofc as many of you when I sell price goes up more, when I buy prices goes down and it was like a vicious circle. + +I figured out that I should just buy, hold and rebuy if I trully believe in the coin project because that way is stress free for me. I know I should start doing the trading more often and learn how to control myaelf but at this point I feel safe in the HODL bubble. +I don’t post much, but had to get this off my chest: + +Don’t get me wrong, I wish I had his diamond balls, his charisma, his sweet headbands, you name it. But DFV is still tweeting out cute cat videos, funny videos, and things he likes. + +Too many people in the world have been changed by wealth, fame, and power. I hope all of us get our tendies, but even more I hope that we can be like DFV and not let money and fame change us. That’s what divides the apes from just another rich asshole. +Living in Shanghai, China has really helped me stay ahead of the curve on Chinese electric vehicle manufacturers and spotting trends. Something I have noticed more over the past month is that the European automakers are selling more and more EV's in the Chinese market. So much so that I am spotting them driving daily more than what makes me comfortable being an early NIO investor. + +Let's be honest about a few things: + +1. Chinese have a lot of disposable income. +2. Chinese love buying European things. +3. Do you really think that NIO, LI, or XPEV's interior and design is better than Germans? +4. NIO delayed their ET7 Sedan until the beginning of 2021 nd their 1000KM battery until the end of 2021. The German sedans are on the roads now. + +Yes, I get it Tesla is going for more of a minimalist interior, but there as far as a luxury vehicle goes - it is kind of lackluster. I've driven and owned a lot of German cars over the years, in China, and they are still more popular than anything right now in the big cities on the East coast of the Middle Kingdom. + +**How will this affect my NIO stocks?** + +By no means am I fear mongering and saying we should all sell Chinese EV stocks now. However, I do believe the Chinese EV companies will start loosing market share. NIO will still hit $100 eventually. I just want to make you aware of the changes taking place on the streets here and you can form your own opinions. Personally, I will not take as big positions any more in these companies, and I will start turning toward more of an EV infrastructure play because no matter who is selling cars they will all need to be charged. Not to mention XPEV's NGP 3.0 might be a game changer in China - more to come on that. +FINAL EDIT: Aight so the vibe I am getting now is that everything is fake, nothing is real, the price is wrong and fucking DRS. Y’all are exhausting but I get it and I’m remembering why I got angry at the system and went zen last year. + +I see so many posts about buy pressure, and how if buy pressure is high, then the price must go up. + +That is not how price discovery works, the price is usually equal to the balance between the highest number people are willing to buy the stock for vs the lowest price people are willing to sell. + +We can have 99% buy pressure, but if everybody wants to pay 0.50$ below market price, the price will go down. Retail is probably contributing to dropping the price in this case because everybody wants more shares at the best deal. + +Alternatively, if most sellers will ONLY let go of a stock for 0.50$ above market price, if people are willing to pay that then the price rises. This is why short selling is a dirty (although proven) tactic, selling below market price matches all those below market buy orders looking for a deal, and the price drops. + +If you really want your stock to go up, buy at market price (in a world of good market makers); stoplimit buy above market to show a willingness to pay premium in the order book; Route buys through IEX if possible; and fucking DRS. + +This situation with people setting limit buys below market price, is a short sellers dream come true because most stock fans don’t understand this dynamic. If most people don't buy at or above market, then they are buying below. In this case, duh, the price will continue to drop. + +(This whole explanation is of course excluding options BS, but it is essentially the same idea of balance highs vs lows to run the market) + +So when people say the stock is on sale you're not wrong, but the fact that people here want the sale price is a big factor as to why the price keeps dropping. Especially seeing as we are the largest overall percentage of buys in the market, if everybody wants the sale price sale, we will continue to get a sale price. + +TL;DR DRS your shit and if you have to use a broker, buy only (even if slightly) above market & through IEX. + +edit: If nobody is willing to pay market or below, only MORE, then the price HAS to go up to fill orders, and then it is not possible to fill the short orders. Only way besides DRS to negate naked shorting is to annihilate the buy side to the short orders. + +edit: some of you guys got your panties twisted, check the flair (SPECULATION) and then check MY FLAIR. I am trying to think of the only way that is POSSIBLE within a set system, not condoned or LEGAL. I do not condone fucking market manipulation so quit whining and hear the words I am saying. I just want people to pay what the stock is worth. Markets were not designed for a bunch of guys buying the lowest possible price on a bunch of moon tickets, they were built on matching orders, and everyone’s low limit buys are matching with the short sells. I am suggesting that people need to pay more of what they believe a stock is worth through IEX/CS to see price action reflect what it is really worth. If the stock is worth millions per share, than why would you not stop-limit buy a little above market through a reputable exchange/CS to demonstrate that opinion within the order book? + +added clarification IEX/CS +...Sue me, asshole!!! + +Support the fight against this stain in humanity here: + +https://opensats.org/projects/opensats_legal_defense + +OOTL? Read this: + + +https://np.reddit.com/r/Bitcoin/comments/wt7uru/this_answer_from_greg_maxwell_deserves_its_own/ + + +https://np.reddit.com/r/Bitcoin/comments/wuw8sb/in_an_apparent_response_to_my_stickied_post_mr/ +I am primarily a SPAC trader, but now that the SPAC market has dried up I've been trading penny stocks with a lot of success. When trading SPACs, there is a concept of *asymmetric risk*--essentially, you compare the % of downside against the % of potential upside. I believe that there is a great asymmetric risk opportunity on $VRCFF due to reasons that I will cover in this post. + +$VRCFF is currently trading at around 0.08 and is a microcap with a market cap of 4m. They have multiple properties in Nevada that they are about to start drilling on for lithium and gold. These properties are a few miles away from properties that are currently successfully producing large amounts of lithium/gold for companies like Noram Ventures(39m market cap) and Soldera Mining Corp(34m market cap). + +Here's what I consider to be the main catalyst--on [March 29, 2021](https://finance.yahoo.com/news/victory-appoints-industry-veteran-mark-110000353.html), Victory appointed Mark Ireton as President and CEO. Mark Ireton is a pretty significant player in the lithium mining space and imo he wouldn't have taken this position without some major catalysts coming up. + +**Ireton's experience** +President and CEO - Noram Ventures Inc(Lithium Miner, 39m market cap) from 2015 to 2019 +Director - United Lithium Corp(33m market cap), Soldera Mining Corp(Gold Miner, 34m market cap), Noram Ventures Inc +Vice President - PNC Bank, Canadian Western Bank + +Note that the properties that Victory are about to start mining are close in vicinity to properties that are currently successfully being mined by companies that Ireton is a Director of. For example, the [Smokey clay lithium project](https://finance.yahoo.com/news/victory-acquires-smokey-lithium-project-130000318.html) is close to lithium projects currently being mined by Noram and American Lithium, among others. +"As President of Noram Ventures, Mr. Ireton oversaw the exploration and advancement of that company's primary asset, a clay lithium property with similar attributes to Victory's Smokey Lithium Project, and in the same vicinity."(Quote from [here](https://finance.yahoo.com/news/victory-appoints-industry-veteran-mark-110000353.html)). + +There are two further bullish signals unrelated to the mining projects. +First, on [March 29, 2021](https://finance.yahoo.com/news/victory-appoints-industry-veteran-mark-110000353.html), Victory issued "3,400,000 options pursuant to its incentive stock option plan ("Plan") to management, employees and consultants. Each option entitles the holder to subscribe for one common share of the Company for $0.10 for a period of 5 years, subject to the terms of the Plan." Essentially, this means that **each option will allow purchase of one common share for 0.10 per share**. IMO the fact that they *priced these options higher than current market price* is bullish. + +Previously, on [March 11, 2021](https://finance.yahoo.com/news/victory-resources-announces-stock-option-012500339.html), Victory issued "1,645,000 options pursuant to its incentive stock option plan ("Plan") to management, employees and consultants. Each option entitles the holder to subscribe for one common share of the Company for $0.075." +I believe that this also helps to set a 0.075 floor in the stock price, which plays into my belief that there is an asymmetric risk opportunity here. + +Second, and honestly I have no idea how significant this is, but it sounds like Victory is hiring people to promote awareness of their stock. From March 29, 2021: "The Company also announced that it has engaged Stockwatch to provide investor awareness services for $10,500 annually." + +**tl;dr industry veteran signed on as new CEO of lithium/gold mining company, drilling starts soon on all of their properties and success on any of the properties should moon the stock** + +Positions: I liquidated my previous $PONGF position(check my post history) and put it all into $VRCFF at average cost 0.08. +Hi there, + +sorry to bring bad news but lately Cardano is showing a little bit fishy. + +Along with a friend we're trying to get the first "getting started" tutorial working directly from [Cardano's dev page](https://developers.cardano.org/en/virtual-machines/kevm/getting-started/mallet-end-to-end/). + +16 days already passed with not a single answer from the devs or anyone, just more people trying to get the tutorial done with no luck... + +I can think that devs are working on other stuff or whatever but If this Charles "don't know what" wants people to adopt the technology then why are they not giving support to the first tutorial on their page? + +Tried several other channels: + +* CardanoDevelopersOfficial's telegram +* Cardano's Telegram +* Cardano's Reddit +* Cardano's forums + +Spoiler Alert... no luck. Not a single answer. Each question I posted then the admins flooded the channels with marketing about cardano and their fork and all that bullshit. + +This is just a heads up. + +Here's the github issue we raised like two weeks ago [https://github.com/cardano-foundation/testnets-cardano-org/issues/488](https://github.com/cardano-foundation/testnets-cardano-org/issues/488) + +&#x200B; + +EDIT: [Here's a post from 14 days ago](https://www.reddit.com/r/CryptoCurrency/comments/lr6tcm/comparison_eth_ada_dot_atom/gol22e7/?utm_source=reddit&utm_medium=web2x&context=3). + +EDIT2: Wow, I'm getting downvoted hard, shillers are on their peak. I don't mind. + +EDIT3: Found my support ticket [https://iohk.zendesk.com/hc/en-us/requests/116572](https://iohk.zendesk.com/hc/en-us/requests/116572) + +EDIT4: duh, you can't see the ticket... adding a screenshot. 14 days. + +https://preview.redd.it/9ed20vudjbm61.png?width=1188&format=png&auto=webp&s=96bddf2dafe783c9cb9ba38d4a8c19f948be89ab + +EDIT 5: [https://github.com/cardano-foundation/docs-cardano-org/commits/main/rosetta/get-started-rosetta.md](https://github.com/cardano-foundation/docs-cardano-org/commits/main/rosetta/get-started-rosetta.md) they changed the tutorial page and removed the part that's not working... people is gonna get so screwed. +So the fantastic post from earlier today (link here - [https://www.reddit.com/r/Superstonk/comments/zwnob1/cash\_flow\_positive\_no\_long\_term\_debt\_1b\_in/](https://www.reddit.com/r/Superstonk/comments/zwnob1/cash_flow_positive_no_long_term_debt_1b_in/)) proves that the stonk is about as attractive as you can get as a value investor. + +If you look for value investing and hearken to the worlds of Graham and Buffett - you get a simply outperforming stock (link to stock performance - [https://www.quant-investing.com/blog/how-to-implement-a-low-price-to-book-investment-strategy-world-wide](https://www.quant-investing.com/blog/how-to-implement-a-low-price-to-book-investment-strategy-world-wide)). Note, I am well aware the game is rigged and all that - just giving an idea of how strong P/B companies fair versus weaker P/B. + +How is there not a large scale value investor out there willing to take a major position in the company? MOASS aside, you are talking to millionaire/billionaires (currently, hopefully us tomorrow) about taking a large portion of this company for your value portfolio? What am I missing outside of the MSM spin? + +Where are the talking heads often seen on TV and elsewhere saying, this is a company only trading at 2X its assets. How am I crazy? Skip all the incremental value of NFT, marketplace, brand, name recognition, etc and if you had a billion or 500M or whatever, you would not purchase this stock on that alone? + +Standard BUY, HODL, DRS, yadda yadda you fucking know the drill. +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. +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. +So I previously posted about Malaysia dramatically upping the application requirements for the MM2H retirement program. The requirements are quite steep and not aligned with the realities of a middle income country like Malaysia. + +&#x200B; + +* Demonstrable monthly offshore income of $RM40,000 (\~US$9,500) vs 25% of that previously. +* Bank deposit in Malaysia of $RM1 Million (\~US$235K) vs 25% of that previously. +* Must spend at least 90 days a year in Malaysia vs 0 days minimum previously. + +&#x200B; + +What was not clear at the time was that these new requirements were retroactively extended to all existing MM2H visa holders. + +[They’re kicking us out: expats decry MM2H changes](https://www.thevibes.com/articles/news/38086/theyre-kicking-us-out-expats-decry-mm2h-changes) + +So basically existing expats who have been living in Malaysia under the MM2H visa for years or decades will be required to meet the new criteria at the time of VISA renewal. This is quite shocking considering that some of those people already bought real estate, cars and are fully settled in and now they will have to meet extremely steep requirements or pack up and leave. + +It is estimated that only 5% of the 57 thousands MM2H expats living in Malaysia can meet the new requirements. +I put a $1k deposit on a $34k car about 8 months ago and delivery date is fast approaching. I'm a software developer on a fairly decent wage and can almost afford to buy the car cash with what I'd budgeted (it's coming early so I'm a little short) + +Ive done some math and whatnot and I'm torn between two ideas: + +- buy the car outright with cash + +- buy the car on the longest loan I can get at the lowest fixed rate I can, betting on the fact that loans are cheap right now (average quoting 4.5% but another dev I know reckons he got like 1.5% because of his wage, I don't believe it.) and hoping that inflation eats the loan to the point I'd barely even be paying interest. then having that money just straight up available for a house deposit or ETFs, 7 years in an ETF will make this worthwhile, surely? + +I only ask because it seems counter-intuitive to borrow money when you can afford the thing but im wondering if the interest cost is more/less than convinience of having my money. +In the Brisbane apartment market developers have been offering inducements to move apartments, such as paying stamp duty, offering holiday packages etc - all in an effort to keep the 'sticker price' of apartments high - while their true value decreases. + +It's interesting that Geocon states that "It’s not necessary for us to do it," Mr Micalos said of the deposit-matching scheme and "The Canberra construction giant says it could comfortably fill its ever-growing number of complexes without chipping in to help first home buyers, but is offering the incentive to help people transition from renting to home ownership." + +The above statements from Geocon seem disingenuous to me. I wonder what the true picture of the Canberra apartment market looks like? All the focus is on how Syd/Melb is overpriced and that Bris/Perth has cratered - but good data is lacking on CBR.. +Hi all, any tips hugely appreciated. +I'll be trying to work obviously overseas but not sure how good the market is, so might take time to find a job. + +- I'm on ING, going to open a ubank acct and set up automatic transfer between them to keep up HISA. +- i plan to leave money in australia to earn interest, about 40 or 50k, it's also a rainy day fund in case things go sideways. +- Taking 25k with me. +- I'll need to check how my super insurance works and if its not valid while im overseas, I'll cancel the insurance +- recommendations on travel insurance please, im just starting research into it now +- any other tips? +In the Brisbane apartment market developers have been offering inducements to move apartments, such as paying stamp duty, offering holiday packages etc - all in an effort to keep the 'sticker price' of apartments high - while their true value decreases. + +It's interesting that Geocon states that "It’s not necessary for us to do it," Mr Micalos said of the deposit-matching scheme and "The Canberra construction giant says it could comfortably fill its ever-growing number of complexes without chipping in to help first home buyers, but is offering the incentive to help people transition from renting to home ownership." + +The above statements from Geocon seem disingenuous to me. I wonder what the true picture of the Canberra apartment market looks like? All the focus is on how Syd/Melb is overpriced and that Bris/Perth has cratered - but good data is lacking on CBR.. +I saw this come up on Ozbargain. I'm looking for a HISA currently and this seems like a good option for 4 months with the introductory rate, then move elsewhere. Has anyone had negative experiences doing this? Seems like there aren't any hoops. + +&#x200B; + +[https://www.macquarie.com.au/everyday-banking/savings-account.html#modal-open-account](https://www.macquarie.com.au/everyday-banking/savings-account.html#modal-open-account) +Hi - hoping for some advice. We have been sent a personal cheque for a substantial amount of money from a relative in the US. It's drawn on the Bank of America. I am wondering how to cash it. Our bank, Macquarie Bank, is online only and very slow to communicate with via email. I also suspect that there would be a large fee involved with the bank processing it and am trying to explore options to reduce that. + + +I understand that transferring it through a service like [xe.com](https://xe.com) would have been a far simpler way to do this but that ship has flown - we're stuck trying to cash a personal cheque in Australia. Any advice on how would be welcome. +I just watched the **Third Industrial Revolution** on SBS. It came out about a year ago and is pretty much a podcast/book by Jeremy Rifkin. + +I'd highly recommend you to listen/read it but be basically discusses how he is seeing the fundamental shifts in paradigm that constitute what would be considered a 'third industrial revolution'. The first being steam, the second being oil. The simplest way to summarise the third one is that it is the **'network' driven revolution**. + +--- + +Oil economies are on a trajectory of stagnating growth - the debt based economic cycles are bleeding their efficiencies around the world, and even before COVID the problems with the economic systems were being exposed. And then there is the issue of climate change which for what-ever reason, many choose to ignore or downplay, but adds additional pressure to economic institutions. The costs of continuing a fossil-driven economic paradigm are forecasted to become so expensive that it gets harder and harder to justify their worth. + +**The 'Network' revolution** is the hyper digitisation of everything. A digitised and networked communication system (replacing the phone which was replaced by traditional media for example). A digitised and networked transport logistics system with smart and autonomous vehicles (replacing the steam engine which was replaced by vehicles). And a digitised and networked energy system with decentralised hyper efficient renewable generation and storage and grid interconnectivity. + +With these components, he articulates how the world may be able to transition to a more efficient economy. With better efficiencies and lower costs to market with everything from toys to electricity, economies become more circular and collaborative. With business models suggested to transition from delivering goods and services to delivering expertise, solutions and humanity. For example an electricity company changing its model from centralised power, to acting as a platform for sharing and balancing power for any micro generator on the system. + +--- + +These kinds of paradigm shifts take time to occur, and they often happen regardless of government agendas - but have you ever thought of adjusting your own investment strategies as a result of 'futurology' or changes to the status-quo? Much of the finance world bases its forecasts and idealogy of what will happen based on historical performance - with 200 years of financial data showing that productivity normally picks up after a downturn and interest rates start climbing again etc, it's maybe worthwhile entertaining the idea that those models may not predict future performance. Do you factor in anything like this into your financial journey? + + +---- + +**TLDR; First came the steam industrial revolution, we're currently in the oil/fossil fuel revolution. But economies around the world are indicating efficiencies are diminishing and costs are climbing with these models. Enter a concept of the 'network' revolution - which can enable the next phase of human and economic productivity. It's a compelling idea - and one which appears to being adopted by more and more individuals, corporations and governments around the world. Are you factoring these ideas into your financial plans? Or do you trust more than 200 years of historical financial models to guide the economic narrative and forcasts going forward?** +**TLDR:** I haven't discussed my current savings plan and finances with anyone before, so am kind of just after someone to let me know if I'm on the right track or not, and where I can improve. I also want to get into investing, but am just not sure where or when to start as I know nothing about it. Currently have around **12k** saved in personal bank accounts. + +&nbsp; + +Hi everyone. + + +Not a frequenter of this sub, however do read a lot on r/personalfinance. Have decided to start thinking more seriously about my finances, so have made this throwaway account, and now this post. + + +I am currently 18 years old and halfway through my second year of uni (4 year degree), which I have undertaken with a HECS debt, and a SA-HELP loan (For student amenities fees). + + +For income, I am working part time, contracted at **$20** an hour, with **20** hours per week. I am also currently receiving youth allowance, which is **$231.28** per fortnight (Won't remain on it for too much longer, as am earning too much). I also receive **$100** per month as an internet/phone allowance from my job. + + +I am currently living at home, so my expenses are minimalised. + +&nbsp;