diff --git "a/reddit_finance_43_250k_49.txt" "b/reddit_finance_43_250k_49.txt" new file mode 100644--- /dev/null +++ "b/reddit_finance_43_250k_49.txt" @@ -0,0 +1,10000 @@ + +Read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) people. + +[Posts relating to the "Is /r/ASX\_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. You have been warned.](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share) Last ban length: 1,048,576 days + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related.](https://discord.gg/2sQBNuM) +**I walk down the street and I feel detached from reality. I feel like a zombie. I do not get any work done. But I am not alone.** + +I consider myself a very skeptical person. Being a lawyer, it is my job to find flaws in documents, fact check everything and find a solution for my clients. Same goes for my other profession, being a corporate consultant. + +**I do not believe in anything that is not proven. Something that I couldn't see myself.** + +**Story time, skip this if you feel like it:** + +*I got involved in the stock market when I was 7 years old. I sold my parents stocks on the beach in Italy. I did not read comics, I picked up a newspaper for financials and told them I would sell them a stock, at that time Lufthansa, for 1€. If the stock price moves up, we split the gain. If the stock price goes down, we split the loss. I had been given 15€ of pocket money from them for the vacation, just like my brother and sister. Both of them blew their money within 2 days of the 2 week vacation. I was able to buy myself ice cream every day and went home with 21€. I felt different. To this day, my parents tell this story to compare the character of us siblings. I did not grow up wealthy. My parents worked hard all their life and I promised them to take care of them for the rest of their life. Damn, I have to admit the only thing that I am afraid of is not having them. I could never tell them,* ***I would cry - and I am not an emotional person.*** + +Money somehow was always magic to me. I believed that anyone could become rich. I founded my first official company when I was 18 and sold it when I was 25. Because money isn't everything. I am sick of it. + +**Where was I...ah, yeah...GME. Sorry apes!** + +I got involved in GME in November. I did not sell at 20. I did not sell at 400. Did not sell at 40 again and to this day I have upped my position. Many saw my post selling my Audi RS7 for 420 shares. Many asked why. + +**And that's the question that I ask myself EVERY FUCKING DAY. WHY AM I NOT SELLING?** + +I fact check everything daily. I do my own DD and pull it up every few days to fact check it. + +And you know what, even though I feel tired of everything and I am unsure of the future... + +**I FUCKING CAN NOT FIND A FUCKING MISTAKE IN THE DD.** + +So even though I feel detached from reality, even though I do not tell anyone I am invested in GME, I silently am adding to my position. + +And what is keeping me confident? + +Because apart from all doubts, I know we are right. WE! It is the feeling that I am not alone. I usually do not have a problem with being early, first or alone in a belief. But this is damn hard. And I appreciate every single ape of you. I don't care how this ends. Even if they screw us, we were right. + +**Whether you are providing DD, commenting to fact check, just commenting for the luls or just silently upvoting and assuring people by being there. You are all equally important.** + +**So I want to THANK YOU for helping me.** + +\------ + +**TLDR: I love you all. You are all equally important.** +I'm an ape more retarded than the others. I have a T212 Invest account. + +It was my first. I found out I can't move stocks to a different broker or stop share lending. + +I have since opened an ISA with a different broker to increase my position. Unfortunately this is currently the only option until we get some legal eagles to fight on our side. + +**If it sounds urgent and incites panic it's FUD.** + +Love you all - don't do anything rash. + +Edit: I'm not going to recommend a broker but I hear fidelity is good. +Good evening everyone, I was recently approached by the reddit user: **Brisley001** + +I am a new investor and they spent the past 3 days talking to me, trying to convince me to join their website: [https://www.reddit.com/r/airlinetrades/](https://www.reddit.com/r/airlinetrades/) + +&#x200B; + +I knew right away she was a scammer, because of the pictures she posts still have the watermark on them and when you search the watermark name you can see multiple people are pretending to be that person. + + +I just wanted to warn you all of this person and be careful in general of anyone asking you to invest into their scheme. This one in particular was a BTC mining scam; you give them money, they guarantee a certain percentage back. + +&#x200B; + +Be safe out there everyone and enjoy your weekend!! +Sources: [https://en.wikipedia.org/wiki/List\_of\_countries\_by\_wealth\_per\_adult](https://en.wikipedia.org/wiki/List_of_countries_by_wealth_per_adult) + +[https://www.dailymail.co.uk/news/article-5328051/Most-Americans-afford-1-000-minor-emergency.html](https://www.dailymail.co.uk/news/article-5328051/Most-Americans-afford-1-000-minor-emergency.html) + +My guess is 401ks, pensions etc., and Home Equity and that a reverse mortgage is possible, but is digging a hole for yourself, plus prolonged Interest, for your grandkids. I don't remember were I found my source excluding real estate, but i know Americans post-recession, try to save every penny because they fear Wall-Street and that the FDIC wont insure them if the crash is big enough. +He is well-read in economics but said the psychological effect of holding whole coins was enough for him to choose XRP. + +Edit: + +After reading some of the responses, I should say that I managed to get him to consider diversifying his money with the top 3 coins. Although he has asked me about Ripple many times. Doesn't know anything about crypto but knows about banking. +CBC.ca: People are offloading their pickup trucks, but who is buying them?. +https://www.cbc.ca/news/canada/kitchener-waterloo/pick-up-truck-re-sales-offload-impacted-by-high-gas-prices-1.6457477 +So for some background, I'm a 17 year old that's pretty interested in Economics. I like to write political pieces, and if they turn out decent I just send them in to random news outlets. I recently started writing an article about how TCJA affected the COVID economy, in particular the Corporate Tax cut. I figured there'd be a good amount more jobs lost if the CIT was still at 35% (perhaps that is controversial, but the point of this post is not to debate that, i'm getting to it). + + +Oddly enough, after a lot of digging through various think tanks and through google scholar, I did not find any study detailing what the job market may have looked like in 2020, if CIT was at 35%. So i thought to myself, my Spring Break is starting in 3 days, what if I did a mini-study. + +I thought I'd start by examining companies like Disney and American Airlines to draw ties to what companies do when their profits are cut, show fiscal yearly/quarterly receipts for those companies, and examine the job market before and after significant CIT hikes in the past for some historical context. Am I getting into something way too deep that only graduate student+ should be getting into, or is this something that I might be able to do decently. +Drafted bill. Expected to be signed today + +https://www.bbc.co.uk/news/world-middle-east-51787238 + +"The mandatory quarantine will last until early April." + +"Night clubs, gyms, swimming pools, museums and ski resorts will be closed. + +Restaurants and cafes can open but customers must sit at least a metre apart. + +People will be told to stay home as much as possible, and those who break the quarantine could face three months in jail. + +Sports competitions will close to the public, and the president of Italy's football players' union has called for all football to stop. " +it was a super diversified non retirement account with individual stocks , that paid dividends in cash (not drip). I would use the cash monthly to diversify even more with purchases. should i continue this course or just dump 18k into SCHD/VOO. +[Could a government make so much money from investments they can stop charging taxes?](https://politics.stackexchange.com/q/76758) + +https://economics.stackexchange.com/q/33972 +I see that everyone is trying get into tech. Even my school had a overflow of cs students in classes and there simply aren’t enough teachers to accommodate them. I am wondering even with so many graduating why aren’t the wages stagnating? + +Are there that much more people who can’t code? +Title says it all. After years and years of struggling to live paycheck to paycheck, I spent >$9000 to pay off debt that has had a stranglehold on my finances for years. I paid off credit cards, medical debt, a phone plan that my parents put in my name and didn't pay( learn from me, be better), paid my car payment 2 months ahead, and I even paid the rest of my car insurance premium so I don't have to worry about that for 6 months. My parents never taught me how to handle money mostly because they were so poor that they didn't know how either, but i've learned over the past 7 years of being an adult that being poor is EXPENSIVE. I couldn't tell you how many thousands of dollars i've paid in late fees, overdraft fees, minimum payments on my CCs just to keep the balance the same the next month! It never ends. Once you're living paycheck to paycheck, there's very few ways to get out and after getting rid of it all, I now have $600 extra a month to save for a house which is my next goal. I hope one day everyone who is struggling like I was get to know the same feeling I feel. +I'm a homeless man trying to get back on my feet after some personal choices and problems after covid lockdowns in 2020, but since then I've been recovering and I've been working as a janitor. I first opened my account when I got my first check from this job, so I have had my Wells Fargo checking account for almost 2 years now in good standing without any problems. + +Fast-forward and Well Fargo has suddenly closed by account without warning. I have my entire check direct deposited in the account and haven't ever had any overdrafts or any problems with transactions made with my card, so I was pissed off when I found out my card wouldn't work, I couldn't withdraw, and my account was closed when I visited a branch. + +After multiple phone calls due to unhelpful customer service, I get someone on the line who confirms my account was closed and told me it was based on a decision. I asked them what decision they said it was a "executive decision" made by the financing department and they were not able to give me any details. This sounds like something the rep made up but it may be Wells Fargo gave that bad reason for customer service to parrot. + +After asking more questions I found out my bank was not entirely closed yet, so I asked if I could go by a branch and just withdraw the money I had in my account, a measly $23 but I need it to keep my phone on. I was told that they couldn't allow that because "they were not permitted to" and when I asked to speak to someone else the rep refused and said they will disconnect the call. I asked him to get me someone else again, and he thanked me and hung up the phone. Class act. + +So what I want to know is, is there a corporate number I can call? Because the alternative to not being able to withdraw my money is to wait for the account to close, then afterwards wait to be mailed a check which I've been told can take between 2 to 3 weeks! + +**Is there a way to for me to get my money** ***out*** **of Wells Fargo** or am I just screwed and won't have a phone for 2 weeks? What's most frustrating is that I still don't know the real reason why my account was closed. +I've just recently gotten into wheeling, selling covered calls on stocks I already own. I originally freaked out when my call went ITM, and would buy it back rather than have it be exercised. But now it occurs to me that I effectively was setting a limit sell price for my stock, and getting paid for it. Same for cash secured puts, you're effectively setting a limit buy order and getting paid for it. Am I crazy? +"Elon Musk is proposing to buy Twitter Inc. for the original offer price of $54.20 a share, Bloomberg News reports. + +Musk made the proposal in a letter to Twitter, according to people familiar with the matter, who asked not to be identified discussing confidential information. Shares in Twitter climbed as much as 18% on the news, after trading was briefly halted." + +https://www.bloomberg.com/news/articles/2022-10-04/elon-musk-proposes-to-proceed-with-twitter-deal-at-54-20-a-share-twtr +[https://www.livemint.com/companies/company-results/voda-idea-posts-rs-50-922-crore-loss-in-q2-after-agr-verdict-11573742055848.html](https://www.livemint.com/companies/company-results/voda-idea-posts-rs-50-922-crore-loss-in-q2-after-agr-verdict-11573742055848.html) + +[https://economictimes.indiatimes.com/markets/stocks/earnings/vodafone-idea-posts-indias-biggest-ever-quarterly-loss-at-rs-50921-crore-on-agr-hit/articleshow/72058447.cms](https://economictimes.indiatimes.com/markets/stocks/earnings/vodafone-idea-posts-indias-biggest-ever-quarterly-loss-at-rs-50921-crore-on-agr-hit/articleshow/72058447.cms) + +This loss was on a revenue of Rs 10,844 crore, which has also fallen YoY + +Part of this loss was due to the provisioning of Rs 25,680 crore as a Adjusted Gross Revenue which is to be paid. + +It however was EDITDA positive, at Rs 3347 crore which is jump from Rs 461 crore last year. + +Gross debt is Rs 1,17,300 crore, while cash and cash equivalents was Rs 35,088.. + +&#x200B; + +Now what is surprising is that Airtel and Vodafone has shown strong operating profit margins, even at such low ARPUs. They can survive if the AGR due is deferred and the loan is restructured. +For me, its housecleaning. It is without a doubt one of the best investments I make every month. I have always hated cleaning, but thought that I was supposed to be disciplined enough to clean my own house. My god, I was so wrong. It is such a relief to not have "I need to clean this house" constantly hanging over me. I can focus on work better, and I can relax in my downtime better. All for just a couple hundred a month. +I haven't dived very deep in the financials or created any models since I don't know how to do that but I have some basic understand of financial statements so I've done some quick back of the envelope math. Please let me know what you think. + +- PE of 3 (apparently, from online). + +- Net income of $124m last quarter or ($3.41 per share) including the $40m in depreciation and amortization but in reality it is much higher since the vessels have gained in value in this environment. + +- $0.375 dividend declared brings it to 7.6% dividend with a sustainable %16 payout ratio (again from online) but I calculated that for the last quarter its actually lower at roughly %11 based on roughly 36.6m outstanding basic shares + +- Expanding the business by acquiring new vessels. + +- Book value of $836m but it is trading at $720m and I suspect this to be much higher since they have accumulated depreciation on their vessels in their balance sheet (cumulative amount not specified) so they don't account for the real resale value of the vessels in this environment (they are much higher). + +- $40 million allocated for opportunistic stock buy backs so roughly %5.5 of the current market cap. + +- Long term leases on ships ranging from 2023 to 2027 so cash flows are expected to be consistent + +All in all, that's roughly a %14 discount to NAV (but likely the discount is much much more due to depreciation on the vessels that has been taken into account), and the company produces $3.41 a quarter for shareholders. Even if they don't extend any of their leases (which is very unlikely since that's their business) and don't grow their revenue or net income and say thay operate 2 years with their current leases before closing their doors completely, the company would have produced $27.28 for shareholders. It is currently trading at $19.60 so thats a %39 discount + %5.5 one time buybacks + %15.2 in dividends for 2 years = %59.7 / 2 = %29.85 return per year in the absolute most pessimistic case of bankruptcy in 2 years. + +What am I missing here? (Serious question) +The market is red, it's down. +People are panicking, saying their portfolio is down 50%. + +I believe the main reason is tapering. We just had a year of fake gains. +A lot of fake money was pumped into the system, it pumped up overvalued companies even more. +So when someone asks you why the entire market is down for no reason, remember, tapering is happening, and it's happening quicker than before. + +Traders are probably panicking when they see volumes of trade decrease. +They exit their positions, stressing out the people around them. +It's a chain reaction, and I think it's just the beginning. There is more tapering waiting for us, and then, the interest hikes will begin. + +Let me know what y'all think. +Hello, + +At 29 years of age I started investing on HL in January 2020 knowing absolutely nothing about investing (I watched a couple of YouTube videos) + +I put a £100 in my account each month with the attitude “I’d rather not lose it but I can afford too” and selected a fund from HL’s Wealth Shortlist with what I felt at the time “showed a good upward graph” + +Anyway I’m now over a year in and find myself with an account balance of £1,600. A number I no longer feel I can afford to lose, but a number I’d like to take forward and start investing properly, as well as understanding more about the subject. + +I’m looking to be a little more active in my research and step away from the Wealth Shortlist but I still feel incredibly uneducated in what I’m doing... so with that in mind, how do I begin to start moving forward? What should I be looking at? How can I research quickly? (I’m looking to sell my current funds and start afresh with the money - is this wise?) + +Ultimately any help is greatly appreciated to help me make the most out of something I have passively enjoyed over the last year and how do I take the next step? +https://www.marketwatch.com/story/nikola-electric-truck-prototypes-were-powered-by-hidden-wall-sockets-towed-into-position-and-rolled-down-hills-prosecutors-say-11627572394 + +Excerpts from the article: + +>Prosecutors said that, in fact, the prototypes that had been unveiled didn’t function and were Frankenstein monsters cobbled together from parts from other vehicles. At public events, the vehicles were allegedly towed into position and were powered by plugs leading from hidden wall sockets. + +Immediately followed by: + +> In one instance, in which the vehicle was filmed for a promotional film, tape was used to keep the doors of a truck prototype from opening, prosecutors said. + +The fraud has been so cartoonishly blatant yet the company *still* has a $4.7B valuation. + +If Enron existed today it would have its dedicated subreddit with diehard followers and it would still have a $10B valuation all the way to the end. At least Enron was a real, legitimately profitably company for most of its history, that's much more than what you can say about Nikola. +Article link: https://www.reuters.com/technology/facebook-owner-meta-forecasts-q1-revenue-below-estimates-2022-02-02/ + +Feb 2 (Reuters) - Facebook owner Meta Platforms Inc (FB.O) shares plunged 20% late on Wednesday as the social media company missed on Wall Street earnings estimates and posted a weaker-than-expected forecast. + +Meta said it faced hits from Apple Inc's (AAPL.O) privacy changes to its operating system, which have made it harder for brands to target and measure their ads on Facebook and Instagram, and from macroeconomic issues like supply-chain disruptions. read more + +The after-hours slump in Meta shares vaporized $200 billion worth of its market value, with another $15 billion in value lost from peers Twitter Inc (TWTR.N), Snap Inc (SNAP.N) and Pinterest Inc (PINS.N). + +Shares of Alphabet Inc (GOOGL.O), which posted record quarterly sales that topped expectations on Tuesday, were down 1.3%. read more + +Meta, which has the second-largest digital ad platform in the world after Google, had previously warned its advertising business faced "significant uncertainty" in the fourth quarter. read more + +The company forecast first-quarter revenue in the range of $27 billion to $29 billion. Analysts were expecting $30.15 billion, according to IBES data from Refinitiv. + +Apple's changes to its operating software give users the preference to allow tracking of their activity online, making it harder for advertisers who rely on data to develop new products and know their market. + +The company's total revenue, the bulk of which comes from ad sales, rose to $33.67 billion in the fourth quarter from $28.07 billion a year earlier, beating analysts' estimates of $33.40 billion, according to IBES data from Refinitiv. + +Net loss from Meta's Reality Labs, the company's augmented and virtual reality business, was $10.2 billion for the full year 2021, compared with a $6.6 billion loss the previous year. It was the first time the company had broken out this segment in its results. + +CEO Mark Zuckerberg had previously warned that the company's investment in this area would reduce 2021 operating profit by $10 billion and would not be profitable "any time in the near future." + +The company said on Wednesday it would this year change its stock ticker to "META," the latest step in its rebrand to focus on the metaverse, a futuristic idea of virtual environments where users can work, socialize and play. + +The tech giant, which changed its name in October to reflect its metaverse aims, is betting the metaverse will be the successor to the mobile internet. It did not comment on the price of a deal with Roundhill Investments, which said in January it would stop using the symbol for its Roundhill Ball Metaverse ETF. + +Meta's rebrand comes at a time of increasing scrutiny from lawmakers and regulators over allegations of anticompetitive conduct and over the impacts of how it handles harmful or misleading content across its Facebook and Instagram platforms. read more + +"If you're putting billions up front and not really expecting return for years, shareholders are going to be hesitant," ABI Research analyst Eric Abbruzzese said, referring to the metaverse costs. + +Disclosure: I have long positions for $FB. +Hey Apes - this theory is literally just that. A theory. So take with a dash of salt. + +I'll be operating with quite a bit of conjecture but this is after a critical assessment of the most relevent and important DD since Jan while also being intensely focused on the political/financial reactions that have taken place within the government and financial institutions. Additionally, applying the knowledge we've all gained throughout this saga to the political (NOT talking about sides) landscape using occam's razor we may just be able to better understand why the US Goverment actually WANTS this to happen. + +So, first off lets rewind history several decades and look at the general political landscape in the USA. In a country run by Capitalism, it has become common knowledge and a widely accepted truth that large private entities such as banks, financial institutions and corporations can and have often lobbied to influence political decisions in Goverment. Even though this practice has been criticized over the years, nothing has really been done to prevent this. In contrast to this, other countires have laws and limits in place that prevent how much a private entity can contribute thus limiting their degree of potential influence. + +**So in short- Goverment and politicians can be easily influenced to act in the interest of private institutions such as financial institutions and corporations because moneyz.** + +So, what does this matter? + +Well when you step back and review what happens when the weight of power shifts from private companies controlling the political landscape as opposed to honest decisions being made by uninfluenced people, you can easily deduce the fact that the system became broken a long time ago. Goverment is no longer acting on behalf of the people, making decisions for the people... No, their nutsacks have been squeezed by private enterprise that has consistently steered policy and developments for the past several decades in a manner that benefits the corperations and pads the pockets of politicians. Don't believe me? Why is it getting harder and harder to live in grow in a first world country? Food, jobs, housing, all becoming increasingly difficult to acquire for reasonable cost. (Yes other factors influence these as well) + +**So in short - Clearly no is working for you. Just a bunch of suits pretending to.** + +Now, how does this apply to MOASS and GME you ask? + +Well for argument sake, let's assume there are still a large number of good people working in Goverment that simply don't "fight the good fight" because it's an uphill battle that would last for an eternity... + +Hell, let's even just assume it's a few people that are in the right places. + +**Now lets create a scenario where something massive happened like a certain stock was shorted to oblivion several times over while a bunch of Apes decided to - worldwide - buy that same stock several times over which made it impossible for several large financial institutions to close their short positions without causing a nation wide financial implosion.** + +Well it looks like the nutsack squeeze of power that private institutions had over goverment to do their bidding just entered into a massive game of role reversal, if you will. Uno anyone? + +Now good old Uncle Sam is watching the institutions start to sweat and squirm. + +**And Uncle Sam is tired of getting fucked**. Uncle Sam has parts of him that know he must do good. + +Enter Gary. Fucking. Gensler. + +Gary sees the tables have turned and the USA is in a disastrous dillema right now that has been precipitated by the same fuckbags that have been bending over the good old U S of A for the past 50 years or more. Gary knows what's going on, Gary has exstensive knowledge in crypto, banks, poltics, etc. Gary knows the oversight of the SEC has done next to nothing to remedy the actual problems over the years and is literally there for nothing more than public optics that create the illusion of punishment for use of the secret ingrediant... *crime* + +But Gary knows for the first time in history, hundreds of thousands of hard working people that actually make the world go round, have stumbled on to NOT JUST the fuckery that occurs in Wall St and government... But HOW THE FUCKERY OCCURS. + +And you fucking Apes backed these discoveries with solid peer reviewed DD after DD. The absolute massive influx of eyes that have now fallen upon these criminals and their nefarious deeds is like pouring gas on the match. + +**We forced their hand because we did their jobs for them** which makes Gary's job easier because he can't be coerced into staying silent when a bunch of tenacious apes are out there shaking DD bananas out of trees on a daily basis. We are the back-up someone like Gary needed to drive this whole thing home. + +**"BUT WHY?"** you ask? Well, sorry I took so long to get there but the answer is simple... + +Power. + +**For the first time in recent history The Scales of Power can now be tipped back into the actual Goverment instead of corperations, financial institutions and other private entities getting to steer the ship. A revolutionary shift can now occur due to the circumstances that are already set in motion. My belief is many decent people in Goverment have been WAITING FOR THEIR OWN CATALYST to have an opportunity to flip the system on its head.** + +Who has been making the rules? Your elected officials? Hahaha, fuck no. Wall Street. Who has been generating the policies? Wall Street. Who has been making it harder for you to get by? Wall Street. The tentacles of Wall Street slither and penetrate through the countless networks and circles of people that should be working for you, but aren't. + +Thus, if you regulate Wall Street more, and limit the use of their secret ingrediant and fuckery, while forcing a level of oversight that provides a greater degree of intimidation and compliance or risk severe consequences, then you have effectively neutralized a massive tool these entities use in their bid to spread their influence and corruption. + +The United States of America may finally be realizing if their people are consistently the victimized by the the wealthiest criminals who consistently seek out ways to force people into parting with their own money... The American people could one day be in a potentially dire situation, nationwide. And that doesn't benefit anyone. The Goverment for many years now, has no longer been the one in power, running the country. It's these powerhouse institutions pulling all the strings. + +And I think there are enough people out there that are realizing or have realized this simply can't continue. Its unsustainable for the American people and the effects are beginning to show in the world around us. With the scales tipped, and the roles reveresed, America can begin to take back some of its power. + +This isn't often talked about in this way here but I genuinely believe this is a huge part of WHY people like Gary are legitimately purusuing change. + +Will it make a perfect system when the dust settles? No. It will never be perfect. + +But will Uncle Sam stop being a little bitch for the banks and rich dicks who have been bending his people over decades, and finally give himself the opportunity needed to dust himself off and fight back? + +I think so. + +I hope so. + +<3 You Apes. + +**TLDR/Edit: I just wanted to add for clarity - The US Goverment redistributing power by way of limiting Wall Street influence does not necessarily equate to rainbows and buttetflies for all. The government can still operate poorly and dysfunctionally on it's own, even with less Wall Street - but this theory is meant to illustrate that taking power back is ALL THE MOTIVATION THEY NEED. Because in the minds of them, Uncle Sam should be the power. Not Private Corps and Wall Street. What they do after this is anyone's guess.** +First a foremost, thank you to everyone in the sub who has made the previous AMA’s so successful! + +As an update to everyone, I left my position at a ~$5B RIA to focus on the gym that I own and focus on Real Estate development, which I have dabbled in over the last few years. + +There are a lot of good questions in the previous AMA’s regarding fees, fiduciary status, private capital etc. + +My goal moving forward is to be a free resource to all of you from the perspective of someone who has experience working at the top-end of the industry. + +I am happy to answer more detailed questions via DM or whatever means necessary. + + +AMA! - mep42 + +[AMA #1 ](https://www.reddit.com/r/fatFIRE/comments/mhxhsq/ama_i_am_a_wealth_advisor_to_high_net_worth/) + +[AMA# 2](https://www.reddit.com/r/fatFIRE/comments/n5m09a/ama_follow_up_post_i_am_a_wealth_advisor_to_high/) + + +**EDIT - I am trying to get back to everyone as soon as I can, but there are a lot of messages! Thanks everyone! +I think it's completely and utterly fucking idiotic that people on this sub are straight up arguing the dominance of their method of trading or the other (price action vs indicator use especially). Can't we all just fucking get along and accept the absolute fucking fact that not one has absolute dominance over the other? Price action is great for traders who look for reversal points, chart patterns and in trying to determine whether or not a trend will continue. Indicators on the other hand provide you with information you don't get to fucking know instantly by looking at the charts like the current volume, trader sentiment, comparison of bull vs bear strength and many more. + +All you dipshits arguing about "but indicators are lagging, price action isn't, plus you can barely even see the chart with that many lines" or "indicators are the only way to trade since chart patterns aren't a guarantee, wtf are you a psychic in predicting where it's gonna go in the future?" Don't you all understand that it's a complete waste of time trying to praise one over the other like zealots? Can't you even try and comprehend with your black and white mindsets that both can be used together? I mean is it really that hard to envision a system where you can use indicators for specific aspects of the market like volume, likelihood of a trend or reversal, whilst using price action for timing, continuing and exiting trades? + +Can't well all just for a single fucking moment remove our heads out of our own asses and +1) Not care about how others trade because doing so makes you a total asshole and a dick. If you're reacting because you want to try and teach them about how you think they can improve, then go for it, but don't be a total dictator about it. +2) Acknowledge that price action and indicators are tools that both have merits and also flaws, stop being so close minded +3) Bring back this sub for what it's truly for, a place where newbies and veterans alike can learn/share their ideas and communicate with other traders, not some sub where man children decide to fight other man children online because they have a slightly different approach to trading + +Tldr: Don't be a dick, the world doesn't need any more of that kind of people + +Edit: Wow, didn't expect this to gain traction so much, thanks for the awards kind strangers!! +I found this factsheet for Vanguard, but I find it difficult to to understand, link: + +https://institutional.vanguard.com/iippdf/pdfs/FS964R.pdf + + +Edit: The reason I am linking the factsheet is because they are thin on how one can invest from outside US +A friend just said this to me, yet his parents pay for all of his bills other than his mortgage. Without that, he wouldn’t be able to afford his home. + +Ah, the joy of dealing with people who think they worked hard for everything they have without acknowledging all the help from their parents, and then put you down for not being on their level. 🤬 +I’ve been backtesting a simple strategy that looks to see if a close price near the day’s low is followed by an up day. I calculate the daily range and check where within that range the price closed as a percentage. i.e. a value of 25% means the close was within the bottom 25% of the day’s range. If this value is below a certain threshold, then look at the next day’s return (Close to Close). + +I simulated different threshold values from 5 to 100 to measure the likelihood of the next day being a positive day and found that when the price closes nearer the low, the next day is more likely to be an up day (The x axis on the chart is the threshold and the y axis is the likelihood of the next day being an up day) + +&#x200B; + +https://preview.redd.it/vdjsl5gr8j071.png?width=633&format=png&auto=webp&s=9d653113bc4349f123d06c7249a2f44ed5a97288 + +I then backtested this as a simple system (no fees etc accounted for) on a few different indices, which showed excess returns and improved drawdowns. The only trading rule was, if the price closes within the bottom 20% of the day's range then go long and exit at the next day's close. + +&#x200B; + +https://preview.redd.it/z8rcoi4t8j071.png?width=641&format=png&auto=webp&s=e18e7f225e38e69f8d15c55ee5582a9a0c8a68c7 + +I haven’t tested this live so I’m sure there will be things that I haven’t accounted for but it seems worth doing more testing on. + +Has anyone got experience trading this kind of system? +The former is more commonly used while the latter often refers to Marx and the classical school. How are these two trades related and what sets them apart? +I have a general understanding of Pigouvian Taxes. They are taxes used to influence behaviour, such as carbon taxes influencing someone's burning of fossil fuels. + +I can think of a few arguments against Pigovian Taxes, but they don't seem economic and are more ideological. For example, generally being against government intervention in markets or affecting people's freedom of choice. + +What other arguments are there against Pigouvian Taxes? (assuming I understood the concept correctly). + +Edit: I realized I misspelled the term in the title. +Any comment or post that counters any denial of a housing crisis or general advice about getting a new car over a 1991 Holden Commodore with 456ks on the tick (second hand) is automatically deleted and silenced. + +The new sub rules are 'no personal advice,' yet the significant posts are essentially advice from personal perspectives... so long as it's "stop eating avos and live in the bushes like I didn't in 1977"—what a bloody joke they are. + +I questioned one bloke for lacking any substance in mocking another wanting advice on buying a house, not renting forever. It turns out he's a property investor. Some other bloke notorious for calling people lazy is middle-aged and flash with significant portfolio investments, two houses. It's in his bloody history. + +What a joke. Bunch of cowards. It's the "I have mine so bugger off" mentality, and they want their safe space, now actual debate. Just astounded. +Any comment or post that counters any denial of a housing crisis or general advice about getting a new car over a 1991 Holden Commodore with 456ks on the tick (second hand) is automatically deleted and silenced. + +The new sub rules are 'no personal advice,' yet the significant posts are essentially advice from personal perspectives... so long as it's "stop eating avos and live in the bushes like I didn't in 1977"—what a bloody joke they are. + +I questioned one bloke for lacking any substance in mocking another wanting advice on buying a house, not renting forever. It turns out he's a property investor. Some other bloke notorious for calling people lazy is middle-aged and flash with significant portfolio investments, two houses. It's in his bloody history. + +What a joke. Bunch of cowards. It's the "I have mine so bugger off" mentality, and they want their safe space, now actual debate. Just astounded. +Hello, I am a rising junior at the University of Michigan studying computer science. I've always had an interest in combining my personal finance with my major but do not know where to start. I'm comfortable programming but could use some help with trading. I need advice on how to start and what to do. Any help is much appreciated. +More of a rant/whinge but here goes. + +Family of 3. We stick to our budget well and any extra has been for building up an emergency fund. But lately I've been feeling down seeing how difficult it is for us to get our own home. + +I'm on $100k, and wife not working as she's stay at home mum. When she does start working it won't be much, but can at least go all into savings. + +Budget as follows per month, cars is annualized including regos, insurance, maintenance. + +Rent 2500 +Shopping 1000 +Cars 360 +Utilities 300 +Health insurance 200 +Eating out 200 +Cellphone and internet 85 +Cosmetics/beauty 55 +Streaming 25 +Total 4725 + +Basically left with $1k a month for savings meaning if we want a $100k deposit for a house it will take over 8 years at this rate and a comparative home would mean the instalments would be more than the rent ($1m home) + +I've got a 4 year old phone, would like a new one. I'd like one of those fancy $1k coffee machines. I'd like to go on holidays twice a year. I'd like a ps5 and a bigger TV. Also would love to go out more without worrying about the budget. + +But I'm restricting myself from these luxuries because I really want a deposit so that we can buy a house. + +In case you're wondering, I know we can find cheaper rent but there'll be a tradeoff with the new area, being further from work, friends, etc we're happy with our location. And we need 2 cars - wife is with a toddler and she does a lot of community service volunteer work with all the mum's in our area. + +There. I said it. Thanks for reading. Anyone else feel the same? + +Update/edit: +Thanks everyone for the great advice and just for entertaining my whinge. Too many comments to respond individually, I appreciate it. + +I feel much better knowing it's not just me, and yes I know how to solve my problem but as others have pointed out it's a lifestyle choice to be on single income and live in a certain area. + +To be clear, my wife is working - she's a full time mum and every parent knows what a rewarding and challenging job that is. She's doing an amazing job. I'm not carrying a burden, I enjoy my job and am content with life. + +We're a team and she's more than willing to return to work, but we'd prefer that our little one gets the love and attention from his parents in his early years. It's a financial trade off that we will not regret down the line. + +I had a moment where I compared myself to those around me, and that spiralled me to the point where I wrote this rant, we should all seek to be content with what we have because I know I have alot to be grateful for. Alot of the times I said "I", I actually meant "we" - wife and I are on the same page. + +Some great advice I'm going to start working on: +1. Buy the ps5 - I have the money :-) +2. Salary sacrifice for FHSS. I'll be saving the $1k and the additional money from the tax benefit can be my fun account - saving for more luxuries. Also remembering buyers remorse is real, I'll do alot of research before any purchases and probably go second hand. +3. Since we really want a house in the long term, will investigate getting into the property market - it doesn't have to be the forever home. Will be a stepping stone especially with the equity growth. This can be the best move as the capital gains will outweigh our savings. + +Still reading through some comments, but thanks guys :-) +I'm also seeing that mods are banning people asking why. + +https://imgur.com/gallery/lXMwNbO + +Of course, we already know why: + +https://dailyhodl.com/2021/12/21/polygon-matic-creates-200000000-fund-with-reddit-co-founder-to-back-games-and-social-media-on-blockchain/ + +This is not a call to arms. This is not a post to condone brigading, but something needs to be done about the blatant censorship from power-hungry mods. + +Take to Twitter. Take to Discord. Spread the word because the cryptoverse is ~~comprised~~ compromised on Reddit. + +EDIT: the prevailing narrative seems to be mods went with a scorched earth strategy on bans to mitigate brigading and multiple posts. + +**This does not explain why the initial announcement post was deleted and all the comments nuked**. + +Mods banned and muted me lol +You have $500,000 cash. No other assets (you are renting) and no debt. + +You are married and have 3 kids age 7, 4 and 1. + +You make $120,000/year and your spouse is not working. + +You want a house for you and your family long term. Nothing super fancy but in the $500,000 range. + +OK, so how much would you put down towards a house and how much in a portfolio? Is there a way of collecting premiums off the portfolio that could cover mortgage payments? +Would you size up your portfolio using margin in order to sell more cc:s and collect more premiums? +What would YOU do? +&#x200B; + +https://preview.redd.it/a5yv387dkf171.png?width=1600&format=png&auto=webp&s=ee61b1b888ecdacbf02623f0cb545bb9c4086385 + +Good Morning San Diago, + +I am Rensole and this is your daily news. + +Does anyone smell that? + +\*insert flashy intro card\* + +&#x200B; + +https://preview.redd.it/tcqbdc6gkf171.png?width=680&format=png&auto=webp&s=c36976b3db22cea9b69877a196dce94360396a4d + +Ok this one is a little obligatory + +&#x200B; + +https://preview.redd.it/9z5xwnmjkf171.png?width=960&format=png&auto=webp&s=1734a4cc62e1c6b39337364df11412e0f66cb073 + +Happy 200, glad to see you again my old friend. + +&#x200B; + +But let's go with the news + +&#x200B; + +https://preview.redd.it/x1dadtwpkf171.png?width=640&format=png&auto=webp&s=2590f499ef55702360c92afd0d44dce09df53982 + +# Cramer and Bear Stearns + +So everyone has seen the big short by now right? + +At the ending of the movie you can see Mark Baum at a conference and a guy talking about how his bank is still ok, while the rest of the room is getting updates on their phones that the stock is plummeting, this is what happened with Bear Stearns and Jimmy Cramer. + +Bear Stearns was one of the biggest banks in terms of stock brokering in the world at the time. and Jim Cramer told others to "buy buy buy" as he so often does with his soundboard. the problem however was that at the time BS was trading around $62 usd, only five days later they got bought out by Jp Morgan for $2 usd a share. (bailed out by them). + +Now from this came a joke of sorts, always do the opposite of what Cramer says (even long before we apes came along), sometimes he has a good thing in there and some actual good advice but more then not I'd say the inverse is true. + +Now Jim Cramer has a great background as a hedgefund manager and entertainment personality, both come with great connections to the right people, so you'd think he would know whatsup and give better advice than most people could as just a tv personality, but here we are again, another "Bear Stearns is FINE" moment, there have been people screaming about the inflation of the USA going insanely high (prices of food, lumber and metals going up) and JPOW is screaming "nah it's all ok" + +I'm hardly an expert or someone who is allowed to use scissors without supervision, but by all the markers it seems that the USA economy is circling the drain right now, with reverse repo rates getting higher by the day, inflation rising, CBOE VIX spiking every other day, M1 surging.... + +Yeah this feels like another "Bear Stearns" situation to me. + +[reverse Repo going up again](https://preview.redd.it/7brl8wioof171.png?width=857&format=png&auto=webp&s=4debd99f223a76f9f53a544b2dc6ee32ecfb7869) + +&#x200B; + +# SR-ICC-2021-009 + +[https://public-inspection.federalregister.gov/2021-11083.pdf](https://public-inspection.federalregister.gov/2021-11083.pdf) + +This beauty is going to be filed today. + +I'd say give it a good read, I personally love page 6 and 7 + +"establishing a risk-based margin system" hmmmm Kenny be sure you have your phone on buddy ;) + +&#x200B; + +https://preview.redd.it/42xlo4ksof171.png?width=828&format=png&auto=webp&s=a09af119e2515a6b6edd7812610889cfedb69497 + +# To big to fail + +Today the senate banking committee will hold its hearing on may 26th at 10 A.M. what the hearing is about or what they're going to talk about is unknown, the same is for tomorrow the house financial services committee will be holding it's hearing at the 27th at noon + +Its indicated that the biggest banks ceo's will be hauled in front of congress, just like in 2009 + +the following CEO's will be attending and scheduled to testify + +1. Jamie Dimon - JPMorgan Chase +2. David Solomon - Goldman Sachs +3. Jane Frase - Citigroup +4. James Gorman - Morgan Stanley +5. Brian Moynihan - Bank of America +6. Charles Scharf - wells fargo + +I currently do not have a link to where we can view/stream these hearings but if a smart ape finds out let me know and I will update it here + +&#x200B; + +Big thank you to u/sky_is_not_the_limit for finding these: + +Hearing for today, 26th 10 am + +[https://www.banking.senate.gov/hearings/annual-oversight-of-wall-street-firms#](https://www.banking.senate.gov/hearings/annual-oversight-of-wall-street-firms#) + +House financial comittee, 27th noon + +[https://financialservices.house.gov/calendar/eventsingle.aspx?EventID=407756](https://financialservices.house.gov/calendar/eventsingle.aspx?EventID=407756) + +&#x200B; + +https://preview.redd.it/rggptmqvof171.png?width=828&format=png&auto=webp&s=867c0be332be1762180610c835e6b3dbdb30bc5e + +# For the new apes among us + +First of all welcome! + +Second, for the people who see this and think "Woah dude" be sure to chill and read some DD we have posted around here, while going up over 200 is nice we are up institutional gamblers \*cough Shitadel\* + +These guys will do everything to win so they wont go "fuck it, they've won" they'll fight till the last nickel is done for, so even though its awesome to see, don't think you've won until it's way over. + +Again read the DD, take in as much info as you can, and double check everything, never trust anyones word, always do your own DD. + +Knowledge is the weapon against all FUD + +&#x200B; + +&#x200B; + +https://preview.redd.it/ieiirzhupf171.png?width=510&format=png&auto=webp&s=af389726d3196916e9274c8575c42998e8bfbf95 + +# IS IT A BIRD? IS IT A PLANE? + +I will be adding a big part on the NFT and blockchain stuff here later today be sure to come back and check it (I'd rather take my time to double check everything and the possibilities with it before making claims that may be wrong). + +The big news comes down to something fucking awesome + +* First Actual use of the NFT to use as a service or goods +* NFT based preorder items +* Perhaps a crypto dividend +* Power up rewards can become part of the blockchain +* reselling of digital games +* Digital marketplace. + +If any of these are going to be implemented, congrats RC you've just killed off Steam + +But again I'll be diving deeper into the entire crypto part and will be coming back here later today to update it with as much info as I can find. + +&#x200B; + +https://preview.redd.it/mqe42y2lqf171.png?width=554&format=png&auto=webp&s=005491bcd8e21ed8088469d4116d67ddcd363e71 + +# EXCELLENT! + +Be friendly, help others! + +as always we are here from all different walks of life and all different countries. + +This doesn't matter as we are all apes in here, and apes are friends. + +Doesn't matter if you're a silverback a chimp or a bonobo. + +We help each other, we care for each other. + +**Ape don't fight ape, apes help other apes** + +this helps us weed out the shills really fast, as if everyone is helpful, the ones who aren't stand out. + +remember the fundamentals of this company are great, so for the love of god if someone starts with trying to spread FUD, remind yourself of the fundamentals. + +There is no sense of urgency, this will come when it comes, be a week, be it a month be it six. + +We don't care, just be nice and lets make this community as Excellent as we can! + +Remember one of the only ways to counter the Cointelpro we have seen is by being overly nice, so treat all the other apes as if you're dating and you wanna get to first base. + +&#x200B; + +https://preview.redd.it/jh1v3b0sqf171.png?width=400&format=png&auto=webp&s=d8cb0bc7d15aedb90561e26691aa61ac208320b8 + +Remember none of this is financial advice, I'm so retarded I'm not allowed to go to the zoo 'cause they'll put me in the cage with the rest of my ape brothers. + +If anything happens throughout the day we will be adding it here. + +backups: + +[https://twitter.com/rensole](https://twitter.com/rensole) + +[https://twitter.com/PinkCatsOnAcid](https://twitter.com/PinkCatsOnAcid) + +[https://twitter.com/RedChessQueen99](https://twitter.com/RedChessQueen99) + +&#x200B; + +Little side note: I wont be posting through Automod anymore because it takes away the ability to edit the posts once posted :( if anyone found a way around this by any chance please let me know because I'd love to just use automod but I need to be able to edit. + +Be sure to check in for updates throughout the day! + +\------------------------------------------------------------ + +# Gamestop Cryptoshop + +&#x200B; + +Ok I have to preface this that my crypto knowledge is extremely limited, and I will have to go off of information of smarter apes which have posted here, so if anything is incorrect in this next segment please feel free to correct me. + +Now first of some things we know for sure (or think we know for sure). + +the address where you can find the info is [https://nft.gamestop.com/](https://nft.gamestop.com/) + +There is a small game hidden in there, with the squeezable cat toy, its the little pixel on the top right of the website if you click that you get the game. + +\------------------------------------------------------------ + +The token was created around the time of Ryan Cohens tweet + +[https://etherscan.io/token/0x13374200c29C757FDCc72F15Da98fb94f286d71e](https://etherscan.io/token/0x13374200c29C757FDCc72F15Da98fb94f286d71e) + +\^ address with all info and age. + +\------------------------------------------------------------ + +Do not buy any Crypto's because people say "this is Gamestops Crypto" When GME will launch their crypto for to be able to buy, expect Gamestop to offer some sort of press statement, the crypto landscape is littered with scammers so be very careful please. + +\------------------------------------------------------------ + +The platform they are using is Etherium and some information about that can be found here: + +[https://www.theblockcrypto.com/linked/106071/gaming-retailer-gamestop-is-building-an-nft-platform-on-ethereum](https://www.theblockcrypto.com/linked/106071/gaming-retailer-gamestop-is-building-an-nft-platform-on-ethereum) + +\------------------------------------------------------------ + +The GME crypto will launch on July 14th, Bastille day. + +&#x200B; + +https://preview.redd.it/ttjgz0y8ag171.png?width=828&format=png&auto=webp&s=cc8a9fab35715616a44f544442dc7357c67a4207 + +[https://en.m.wikipedia.org/wiki/Bastille\_Day](https://en.m.wikipedia.org/wiki/Bastille_Day) + +This was found by u/jakksquat7 in his thread [here](https://www.reddit.com/r/Superstonk/comments/nl2vld/july_14th_the_date_of_the_gme_crypto_coin_launch/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) + +\------------------------------------------------------------ + +Another thing we know for sure is that this does not automatically mean there will be a crypto dividend, but the possibility of one just rose exponentially. As GME themselves have not made a public statement about this we don't know for sure if it will happen, but again it seems like the chances just rose exponentially. + +\------------------------------------------------------------ + +&#x200B; + +https://preview.redd.it/v5gpt5gqag171.png?width=500&format=png&auto=webp&s=54e00366b5333b2d6bfb5dd45317b0338fd311f3 + +\------------------------------------------------------------ + +NFT's have not been used for "useful" transfers, meaning up until now you could buy digital artwork, or a videoclip. With Gamestop getting into the NFT business we might see the first implementation of "useful NFT". + +With useful I don't mean to say the previous stuff wasn't, but useful is more defined in the sense of something you can actually use as a product. + +This can be implemented in lots of different ways as I've come to understand it, as with the blockchain you can get verified data. meaning one could in theory use it to sell and resell digital assets. + +So they could in theory make a "Steam" like store, but with the option of selling your digital games, or selling cosmetic items (players of Warzone/Fortnite/CSGO and others may be familiar with this and know that custom skins can sometimes go for big money), also as I understand it is that the original creator gets a cut of the profits if it gets resold. + +The old model was: +Player buys physical model in store +80% of the profit is for the store, 10% for the publisher 10% for the creator (just an example), but once the game got traded in and resold the profit was 100% for the store selling this game. + +Now in the digital marketplace we see people like Valve and Apple having a monopoly (their cut is usually around 30ish %) but there is only one sell and it's done + +With the new model it could be possible a player plays a game, is done with it and wants to sell it, now lets say it gets sold on GME's marketplace as an NFT, the original creator/publisher of the game will get a cut of each sale on the secondhand digital market, this incentivises them to participate as it creates a secondary (passive) income stream for them. + +Also you could have more weight behind digital versions of "collectors editions" + +&#x200B; + +The same could also be used for "save files", in game currency, specific partnerships (for example twitch or SLGG or Microsoft) to make an easy method to pay across all platforms with a simple click of a button, and GameStop as a company can earn a passive income stream from "transaction fees" (for example 1 cent per sale, if you have thousands a day that still racks up a nice sum). + +The same could also be used for actual physical items, they could combine their powerup rewards program with this, or Pre ordering, curbing scalpers (seeing they sell both consoles and graphics cards now who knows?) + +This could nullify the Piracy argument and need for bad antipiracy locks ( LOOKING AT YOU DENUVO DRM), because the item could be verified via nft blockchain. + +Cross platform games or cross platform avatars, as in theory (as far as I understand) your entire gamer profile could be an NFT + +&#x200B; + +Regardless of what Gamestop decides to use their NFT technology for, I am thrilled to just even think about all the possibilities that this technology brings with it. and as someone who has never really dabbled with crypto that much, this is exciting to see crypto come very close to physical stores. + +&#x200B; + +Again boilerplate not financial advice and I know jack shit about crypto, but I like this stock and I'm excited to see the future + +&#x200B; + +&#x200B; +I am from India and interested in American politics and economy. For a few months, there has been lots of discussion on Trump on Reddit and in almost every single discussion there has been numerous legit criticism of Trump...except for economy. I am yet to hear any criticism about economy under Trump. Almost everyone seems to start their argument with "Yes the economy is doing good but...". So, is it true that Trump is really doing great when it comes to economic policies? Which policies of Trump has been responsible for this 'historically greatest' economy under Trump? +Now that a lot of growth stocks have pretty much lost all their gains since the 2020 crash I'm more convinced in value and dividend stocks than ever. People were constantly posting on here about buying growth while young, etc, etc and don't waste your time with Divi stocks. Well I allocated a small portion of my portfolio to growth last year in the form of a global growth fund. Currently the worst performer of my entire portfolio and it wouldn't surprise me if I takes a decade to break even again. + +On the flip side my oil and commodities stocks are up, both last year and so far this one. My share count in these is also increasing as dividends are being reinvested. Those shares can't be lost even if the shares drop back down, unlike growth where you can lose literally everything you've gained over two years and back to square one. If growth is in a decade long bear market then at least with dividends you are still accumulating shares +https://www.cnbc.com/2017/12/11/people-are-taking-out-mortgages-to-buy-bitcoin-says-joseph-borg.html + +> "We've seen mortgages being taken out to buy bitcoin. … People do credit cards, equity lines," said Borg, president of the North American Securities Administrators Association, a voluntary organization devoted to investor protection. Borg is also director of the Alabama Securities Commission. + +> "This is not something a guy who's making $100,000 a year, who's got a mortgage and two kids in college ought to be invested in." +Hi all! I’m new to investing and would appreciate your opinion on my current portfolio. I also am planning on investing an additional 5K- should I further add to ETFs I currently have (if so, which ones), expand with other ETFs (would love recommendations such as MSOS or LIT), or invest in long term stocks like Microsoft and Salesforce? + +I currently have: +VOO +VTI +ARKK +ARKF +ARKG +ICLN +TAN +YOLO + +Do you see the clean energy and marijuana industries expanding with recent election results going left? + +Also, if I’m planning on holding these for a year+ long term, is now a good time to buy? + +Thanks! +Nikola founder Trevor Milton agreed to forfeit up to roughly $166 million of equity as well as a two-year, $20 million consulting contract as part of his abrupt departure from the company he started. However, the EV executive gets to walk away with more than $3.1 billion in stock as part of a separation agreement reached over the weekend. + +Milton, who’s come under scrutiny in recent days, agreed to give up his position and duties as executive chairman of the board as well as all other board seats on the company’s subsidiaries, according to the agreement dated Sunday. The deal strips the 39-year old entrepreneur of any say in the company’s operations and blocks him from attempting to influence any decisions for at least three years, according to a company filing with the Securities and Exchange Commission on Monday. Milton agreed to advise the company as an unpaid consultant on an ad hoc basis through the end of the year, but he cannot comment about the company on social media, blogs or other online platforms without legal approval from Nikola, according to the deal. + +The value of his exit package will vary over time as the start-up’s shares have swung wildly since it went public on June 4. The agreement requires Milton to give up roughly 4.9 million in restricted, performance-based shares valued at $166 million as of Friday’s closing price of $34.19 a share while allowing him to walk away with more than 91.6 million shares that were worth over $3.1 billion. + +Nikola declined to comment on Milton’s exit package. + +‘Continued service’ + +The company also accelerated vesting on 600,000 restricted shares worth more than $20 million, allowing Milton to sell stock that was previously locked up until June 3, 2023 sometime within then next six months. Milton really didn’t give up much since the restricted shares he forfeited were contingent on the stock’s performance and his “continued service” at the company through that same date, so he would have lost that equity regardless, according to a separate securities filing. + +Milton’s resignation sent shares of the company plummeting in premarket trading before opening at $24.97 – their lowest opening price since the company went public. Shares were trading down about 20% during trading midday Monday. + + +https://www.cnbc.com/2020/09/21/nikola-founder-trevor-milton-forfeits-166-million-in-stock-and-gets-to-keep-3point1-billion-under-separation-deal.html +I’m by no means a tin foil hat type but the events of the last few years and ongoing inflation, supply chain issues etc. have had me thinking about being much more prepared. + +To some prepping is some extra canned food in the basement, while some ultra-Fat have off-grid bunkers in New Zealand. + +So far I have installed a power generator that can run my whole house, have about 2 weeks of canned food and supplies and holding a reasonable amount of physical gold bullion. I know this is super basic so looking for a bit advice for ways I can improve it. + +Most hardcore prepping feels a bit too kooky, time intensive and very much DIY. + +What’s a good way to be more prepared without turning this into an identity or lifestyle? Any “prepping in a box” that that would give me most of what I need with minimal time and effort? + + +💋Welcome Everyone To LOVE Token!💋 + +Floki Love is a Brand New Valentines Day Cryptocurrency Special. This project is built for the people in our community, to give everyone a place to hangout! We built this with Transparency, and to be transparent NO…! We are not creating a useless Utility, NO….! We are not creating a dumb game, What we are trying to accomplish is helping out people going through a rough end of 2021, or a rough start to 2022. With an experienced team working behind the scenes, and a small hard cap, we know we will see the moon! + +🛳**CRUISE GIVEAWAY**🛳 + +We are giving away 1 Fully Paid Cruise to Two lucky Winners! Yes you heard that correctly! We even purposely are offering two tickets on both the cruises so you can take your spouse or loved one on the most perfect date EVER! + +❤️**The Famous Jayden Cole Gave A Beautiful Shoutout! She loves Floki Love**❤️ + +[**https://vimeo.com/669309591**](https://vimeo.com/669309591) + +✅ WhiteList Contest Is Active + +✅ Shilling Contest Is Active + +🚀 **Key** **Features** 🚀 + +&#x200B; + +* Massive Rewards + +* Paid Cruise Giveaway + +* Game Contest & Rewards + +* Strong Non Toxic Community + +* Celebrity Shoutout’s + +* Experienced DEV + +* Strong Marketing Campaign + +* LOCKED LIQUIDITY + +* STRONG ROADMAP + + +🔥**Tokenomics** 🔥 + +♦️ Contract: 0xBB9350C5fea9ccC6df42908A30B3c72142571786 + +**Total Supply**: 1,000,000,000,000 + +**Slippage = 12%** + +4% **Marketing & Giveaways** + +4% **Holder Rewards** + +3% **Auto Liquidity** + +1% **Buy Back** + +**Social Media’s**⬇️ + +💬 [https://t.me/FlokiLoveToken](https://t.me/FlokiLoveToken) + +🌐 [https://www.lovetokens.co/](https://www.lovetokens.co/) + +🐦 [https://twitter.com/FlokiLoveToken](https://twitter.com/FlokiLoveToken) + +✅WhitePaper - https://www.lovetokens.co/wp-content/uploads/2022/01/NEW-Whitepaper.pdf +My wife and I are new to an area and don’t know many people yet. We are golfers/tennis players and are looking to join a club. Beyond things like financial condition of the club, cost, and quality of facilities, what under-the-radar things should we be on the lookout for? My parents weren’t in a position to ever join a club, though I did work at one for a bit as a kid. Some things we are already considering: + +- Is membership capped and at what level? +- Can the public book weddings and are they easily segregated on weekends? +- Level of offseason activity and things to do +- “Feel” of membership - we are young by CC standards and want at least a reasonable enclave of younger members though we are close friends with a good number of people 10-15 years older than us +I visited SBI ATM after many months today and since I had heard a lot about their infamous "QR Cash" withdrawal feature, I decided to give it a try. But Alas! They only seem to support their own YoNo App and not standard UPI apps like Paytm, Phonepe, etc. + +I think this is a problem. Banks must adopt open standards like UPI instead of inventing their own apps, especially for basic things like cash withdrawals. What if the ATM user didn't have an SBI account? In that case, they'll have to use a debit card and card-less withdrawal isn't possible. + +Going forward, I think it's very essential that we move away from cards of all kinds (debit and credit). It's a nuisance to carry around and subject to security risks (like theft and card cloning) and also has an annual maintenance expense. Much better to have an app in your smart-phone be your cash dispenser and even your bank. + +I remember making another thread earlier on UPI feature additions like built-in facility for passbook (transaction history), minimum balance warnings, fixed deposits, loan requests, etc. It's possible to standardize these features across banks through an open standard (UPI) instead of having to do these tasks manually or through netbanking. + +Finally, there is also the case for larger geopolitical interests of India. It's no secret that each time a card is swiped, it furthers the dependency and revenues for globalist big finance players (i.e. VISA and Master Card). That dependency acts as a major constraint for India to take independent foreign policy decisions in global geopolitics (Ukraine war, for example). So it makes absolute sense from that perspective also to support an indigenous technology i.e UPI. + +Let me know what do you think. +I've had an idea to go out and do Deliveroo driving with my girlfriend. It seems to me to be a good way of making some money and still spending time together. + +We both have a combined income of around £65k so it's not out of absolute economic necessity but feel it would help ease the cost of living crisis and maybe help me get clear my credit card debts / build up an emergency fund quicker. + +Really interested to hear if anyone is doing something similar and what they have found to be the pros and cons of it all. +I've been tracking all my DRIP share purchases in excel for a while because of the frustrating fact that my brokerage (Fidelity--not sure about other brokerages) does not add DRIP purchases into your cost basis unless its an HSA or taxable account. So for retirement accounts this results in overstated gains/understated losses. + +In any case, since I've been manually tracking the DRIP purchases I noticed that the share prices are consistently always higher (sometimes significantly) than the current share price. I researched this and read that DRIP purchases are at the "...average cost of the share price over the given time period of ownership of stock. The system is in place so an investor does not pay for the stock at its highest or lowest prices." + +First of all, I didn't know this. Is this common knowledge? I assumed the cost would be at the current share price. + +Secondly, since I've been tracking these, I feel like this method sucks. + +For example this morning (12/16) I received a dividend for WM. The purchase price for my DRIP shares was @ 168.3943/share! This was the final straw that made me decide to opt out of DRIP for every stock I own. WM is actually a new investment for me and I bought all of my shares on 11/4/22 at 157/sh. WM opened this morning at 161.83. WM peaked at 170 2 weeks ago but the majority of my ownership has been well below 168. So I assume its clearly not my ownership that determines the 'average' price it's just the average over a set period of time maybe since the last dividend? + +With the market being so volatile (and many predicting a downturn/recession) I think this is a disastrous strategy. I'm curious how other people feel about this. +Found myself increasingly thinking about how much better off I could be if I had my current 'knowledge' back when I was 18. Quite often I hear myself thinking 'I wish I knew that when I was 18.' + +I'm going to post it here - on the basis that at least one other 18yo out there could benefit from it. Also hoping to learn from anybody who is further ahead of me on their journey, as I know I still have a LOT to learn. + +For context - I grew up in a poor area of the UK, from a poor background and with no decent financial advice. Not only am I the first person in my family to have a degree, I'm the first person in my family to have a credit card. + +**So - to my 18 year old self:** + +* Get a credit card. I know your family told you it is a bad idea - but it isn't. When used properly, it is one of the easiest things to do, with the most significant impact. Even though you have never heard of it, you have something commonly (incorrectly) referred to as a 'Credit Score'. + * Your **credit history** is there whether you like it or not, so you need to look after it. It is what banks use to 'judge' you when you want to borrow money, or buy a property. Even something silly like taking out a phone contract - they will refuse you if your credit file isn't good enough. + * Yes - even if you have a good job and enough money in the bank, you won't be able to get a £40 a month phone contract if the phone company don't like your credit history. It sounds stupid I know. + * Some things, like hiring a car, require you to have a credit card. Having one will open doors for you, so get ahead of it. + * Use your credit card to buy normal things as you would with your debit card. + * Do not buy anything you can't already afford with your credit card until you are familiar with how it works. + * Set up a direct debit to pay off the credit card in full every month until you are familiar with how it works. +* Don't buy that £7,000 car in 2015. You sell it for £4,500 in 2016. Just buy a cheaper one. +* Open a Help to Buy ISA & Make the maximum payments. If you do this on your 18th Birthday you'll have around £25,000 when you're 28 + the government bonus. Instead you started late, and you only have £4,200 + the government bonus. **(This would be a LISA for any 18yo reading this now)** +* Open a S&S ISA and learn about Vanguard, Legal & General, the FTSE, S&P500 etc. You don't need to be an expert, just make small regular payments. Don't take any crazy risks, and don't panic when things go down. +* Learn about inflation and interest rates. Again you don't need to be an expert - just know that every year that you don't earn interest on your savings, you are losing money due to inflation. Just stay ahead of this by keeping track of savings accounts. +* Put some money in premium bonds. Doesn't need to be a lot - but monthly contributions will add up over 10 years. +* Living at home during uni is a good choice. Some people won't understand and claim you miss out on the 'experience', but the money you do manage to save living at home gives you much better memories. +* Don't be scared to live. Saving money is good - but there are some amazing places in the world and you'll be lucky enough to see a lot of them. At 28, I don't regret a single one of the holidays or wish I could take the money back. There is a balance between saving & enjoying life. +* Moving to a new city is expensive but it is worth it in the end. You cash in your pension from your first job to fund the move. It is a tough decision but it works out for the best. Sometimes tough decisions are necessary. +* Don't compare yourself to others. Somebody you know will inherit £300,000 from a family member, you'll inherit £0. Some of your friends will get cars for their 18th Birthdays. You'll have to save and buy your own when you're 23. It is just the way the cookie crumbles. In the same way there are people out there with an easier ride than you, there are people with having a harder time, too. + +**Silly bonus points if I could actually talk to my 18yo self** + +* Dad dies soon. Just try to see him a bit more often. +* Tesla, Amazon, Apple, and Bitcoin. If you put all your money in these from age 18-28 you could retire as a billionaire. +* You meet who you think is 'the' girl when you're 25. Things don't work out after 3 years - but the memories are worth it. + +\--- + +This isn't financial advice - I just wanted to put down my thoughts. + +What financial tips would you give your 18yo self? +I should probably talk to a professional but thought I'd start here. We're a 40+y/o couple that recently came into some money after 20 years of Hard ass labor. I'm trying to convince the s/o to reinvest instead of letting this money sit in a savings account doing nothing. + +Currently, I have $5k in QYLD and like the monthly payouts. If we put the full $200k in that QYLD fund, plus throw every last left over penny we earn for the next 4 years ~$7k monthly into it, then after 4 years plus drip, it should grow to ~$680k (after taxes). At that point we can stop contributing to that fund and let the monthly dividend keep dripping into the account. After 10 years, it should reach around $1M. + +Is this a stupid plan or will it work? I know there are growth funds, but it seems like this fund will pay out a consistent 12%. + +I've seen the JEPI, voo and other tickers listed in this channel, but don't know if i can trust the growth aspect of those. Also don't have the cajones to just put it into a regular index fund with all the fud everywhere. Also open to pursuing rental properties or crypto as an alternative. + +Any help is greatly appreciated. Just trying to get out of the 70hr a week rat race before becoming obsolete in my field and missing out any more on life. +EDIT: come on! Fake gurus! STOP messaging me! I just made a post about how fake gurus made me blow up 3 accounts, I DONT WANT TO BUY YOUR COURSE. + +So, I was always a dummy regarding any type of investing. I learned about forex and decided to give it a try... I then had the brilliant idea of learning from gurus...fake gurus. + +After one year, I had blown 3 accounts (140 total). + +I, then, had the brilliant idea of learning from Reddit and its books list. I read the recommendation from a number of investing and trading subreddits and oh boy... You think you are smart until you realize you are not. Damn you Dunning-Kruger effect. + +I'm now interested in economics and forex for real, and I know enough to safely assure that I know almost nothing but at least enough to understand what I lack. + +During the past week, I actually tried trading for the fourth time, and from an initial capital of 60, I'm now at 110, and I'll not stop reading nor stop learning about the market and what makes it move. + +And the only strategy I used so far was shorting resistance and buying support +My situation: Low 30s, \~$400-500k/yr FAANG income, $70k/yr expenses, $3M NW (all in market), pacific northwest. The market has been bonkers so I'm trying to keep in mind my numbers will eventually be at a \~20% discount. + +[NW vs Income graph](https://imgur.com/a/Qgv1px2) \- My FIRE# was $2M, then $2.5M, then $3M... one-more-day syndrome! Hopefully I'm close enough for this post to be relevant to the fatfire community at this point. + +**Questions:** For those aiming for $3-15M NW, how do you reconcile the cost in working years to go from $3M to $5/10/15M? I think in my case with a relatively normal W2 salary it will take me several more years to a decade+ to reach $5-15M, and having seen some family and friends work into their 50's to achieve it and still not feel satisfied, I struggle to valuate it. + +I feel like staying on the current path will provide more buffer. I'm considering taking a year off, due to burnout and maybe thinking about what I want to achieve in the future. I'm going to wait for the US election & pandemic to settle before making any life changes. + +Staying my current course, going from $3M to 5 or 10M seems to have relatively low value to me for the years lost, versus trying something different or relaxing. Have any of you ever faced this situation, and changed from W2 to take time to learn about starting your own business (and succeeding)? In my case if I don't find a business concept interesting enough to pursue, I'll just live a normal FIRE retirement with the \~$3M. Since my background is tech in a specialized area, I may copy a friend and go into consulting if a business venture doesn't pan out, however there's so many parts of business I have little experience with, it feels like if I don't start trying to learn now I'll regret not trying. + +**Another question:** Some of the success stories I've met in real life tend to have learned financial principles from their parents. In my case I was the first in my family to learn about FIRE investing principles, and I've shared it back to my parents with varying succcess. + +Do any of you have parents who are (Fat)FIRE? What lessons have you learned from them that you think have helped or hurt your ambitions? Did they retire early? Are they still? Do you plan to retire early? + +**P.S.** \- I am going to celebrate this milestone by eating a pie. + + +*Edit 9 months later (June 2021) : Welp, I'm at $4.25M now. I finally went through and started a sabbatical and it's been fantastic, to be determined if I will return or quit.* +Hi, long time lurker. Love this community. Tried posting this topic a few months back in a different community but got ridiculed for caring so much while having high NW. Myself: $3M NW, US based non-FAANG hard tech industry, one exit as an employee that gave me a good boost. Will FIRE at $5M in a few years. + +As my NW has increased and real life profile has grown a bit (I'm semi-public in my field, and feel I could be a target), I've become increasingly concerned about the security of my savings. I don't own any real estate or other hard assets, so all of my savings are liquid in e.g. index funds, individual stocks, etc. I do all of my financial management through the internet. These are the categories of concerns that I have: + +* **Custodian:** I have a large portion of my savings in popular entities like e.g. Schwab, vanguard, etc., and even some of the new robo-advisors. I've never quite understood what types of federal insurance apply to these custodians (e.g. can they go bankrupt? what happens to my funds in their custody, if anything? etc.). This applies especially to the new robo-advisors. My approach so far has been to distribute my funds across multiple companies to mitigate this risk, but I don't know if I'm actually.... mitigating any risk. And further, it feels like it opens me up to more vulnerabilities on item # 2: +* **Hack**: I'm kind of paranoid about this. Should I be? I use a PW manager; 2FA everything and never use my phone number as the 2nd factor; use multiple emails; etc. Still feels like I'm not doing enough. It feels like a constant battle to keep up with PW changes and so on, and that one vulnerability somewhere brings the whole thing down (e.g. email access; key logger; etc.). Are there steps that you all have taken to mitigate this risk? Or should I just chill out? +I opened up account this past autumn for my daughter’s piggy bank money. I started off having her in 35 different stocks, but lately I’ve been trying to simplify and tighten up her portfolio. I’ve narrowed it down to the following: MMM, ADM, BLK, DIS, HRL, JNJ, LMT, MRK, PEP, PG, RY, TROW, TXN, VZ, ADP, CL, EMR, FRT, GIS, MDT, (A PIE consisting of PM, MO, UVV, BTI). I’m having trouble narrowing it further because I like all these stocks for one reason or another. Also, I’m trying to keep things relatively balanced across sectors although attempting to achieve a level of safety with the consumer defensives. Your thoughts are appreciated! +I recall thinking that if Mr Money Mustache, a guy with a family, could retire with a $600k portfolio and a paid off $200k house, a $500k portfolio for a single guy would be no problem. Many people on this sub at the time had similar target numbers in the upper 6 digit range. High numbers, but nothing too crazy. + +Now, after reading this sub for 3-4 years, my target number is more like $1M in investments. But I'm starting to wonder why. My lifestyle hasn't changed much. I'm still single and don't plan to get married or have a family. My only goals are to live a modest, quiet life, and for work to be an option rather than a necessity. Do I really need millions of dollars to do that? + +These days, I see people here with $1.5 million portfolios saying that they plan to work high stress jobs for another 10 years. Or people with $2 or $3 million who are targeting $5 million, then $10 million, etc. I feel like a lot of the target numbers I've seen here keep getting higher and higher with no end in sight. I get that you need to plan for high expenses in life, like health insurance, aging parents, or if you plan to have kids or live in a high cost area. I feel like this sub changed a lot in the last few years. I'm just a modest earner, with a relatively low FI target number. But maybe I'm wrong and I should be re-evaluating my goals. Can FI even be done on $500k-$1M anymore? Thoughts? +How much would you make if you bought at the day's Close and sell next day at Open, nightly strategy? + +I wondered so I wrote backtest to test all the active stocks from 2019-01-01. + +Stocks that are younger than that are not included in the backtest. + +Getting so much data can be finnicky so I did 2 runs: + +- adjusted price (for splits and dividends) +- not adjusted price + + +There will be some discrepancies between those 2, but other than stock HCHC I didn't find big ones. + + +There's a lot of data so please take a look yourself: + +**Sheet:** + +- https://docs.google.com/spreadsheets/d/1SM2hRW_xb-u1R9ItfBNfZi8lKvBTcfkhsczSzQtkhoU/edit?usp=sharing + + +**Charts:** + +Each stock has their own chart with 3 benchmarks: + +- SPY buy and hold +- stock buy and hold +- stock daily trade: buy at Open sell at Close + +Charts are also divided for adjusted and not adjusted prices + +*Adjusted:* + +- https://drive.google.com/file/d/18lUGfTyOx6dyWkYne7zah3b6466Yaca2/view?usp=sharing + +*Not adjusted:* + +- https://drive.google.com/file/d/1kLYV3dzMW0wOz508eDb_Eezle53S9vBr/view?usp=sharing + + +There you go, let me know if you find something interesting. +________________________________________________________________________ +*Edit: I did not make these trades, last 2 years means I took data from 2 years ago till today* + +*P.S. write down your backtesting requests and I'll see to fulfill if have time.* +Totally ridiculous. I was thinking about buying if they could clear up these concerns I had but nope, they just banned me. This coin will never be successful because it is run by complete idiots. Isn't it ironic? They want to replace ISPs like Comcast yet they're the most authoritarian and centralized crypto group I've ever seen. It's a damn shame because the coin seemed promising but it is clear now that it was all a lie. + +https://i.imgur.com/h7IgDhS.png + +Lesson learned: If a coin ever promises to be everything and more, it is a lie. If it sounds too good to be true, it usually is. + +Edit: I may have overreacted. https://i.imgur.com/L83x85q.png + +I do not believe Skycoin is a scam anymore, but they have very poor community relations. I will still invest since the technology looks promising but they need to work on how they deal with and represent themselves to investors and potential investors. +*I've provided two great articles about this service that explain what a difference it can make.* + +[Thumbnail](https://media-exp1.licdn.com/dms/image/C4E22AQHofnkmTSpxsw/feedshare-shrink_800/0/1624346828040?e=1627516800&amp;amp;amp;amp;v=beta&amp;amp;amp;amp;t=btSl-_wW9Ag-U5SeZqZZ-ZOwO1zOX1f1uSgiQcITxhc) + +# HSBC gets to the crux of a very real problem + +One well-documented complication of homelessness is that people are trapped in a vicious circle: without somewhere to live, they cannot open a bank account, which requires a fixed address; and without a bank account, they cannot find a job; without a job, they have no hope of finding somewhere permanent to live. + +Here’s where HSBC comes in. In partnership with Shelter, it has launched the No Fixed Address service, which allows those with no permanent abode to access a bank account and financial support. With a bank account comes opportunities for employment. And with employment comes the opportunity to get back on your feet. + +[Campaign Article](https://www.campaignlive.co.uk/article/pick-week-hsbc-gets-crux-real-problem/1719477) + +# How getting a bank account while homeless ‘changes your life ten-fold’ + +Kendrick, 34, lost work and became trapped in homelessness because he was unable to get a bank account without an address. He is one of more than 1,000 people in the UK to be given an account through HSBC’s No Fixed Address service. + +For Kendrick every step forward in life has been accompanied with “10 steps back” because he has been unable to get a bank account while homeless. + +The 34 year old, from Edmonton, North London, has been without a home for the majority of his adult life, he told The Big Issue, relying on friends to let him deposit money into their accounts and stay on their sofas. + +The situation meant Kendrick, who preferred not to give his surname, has been turned away from the labourer roles which paid money into a bank account rather than cash in hand. He has been unable to save money to cover rent and end his time spent without a home. + +It’s a vicious cycle which people experiencing homelessness will be familiar with. Citizens Advice said seven out of 10 homeless people accessing their services have struggled to open a bank account without photo ID or an address. + +“With no fixed abode and not having anywhere to stay it is hard to do anything,” Kendrick said. “You don’t have a foundation and you end up taking one step forward and 10 steps back. + +“What I mean by that is you can get some work and then you need to put cash in an account, but as you don’t have one you end up using a friend’s account and sometimes you don’t get all your money. + +“It has cost me work many a time and I’m talking about jobs that any man on the street can get – I’m not talking about brain surgery here. If I have to be paid into a bank account and can’t be paid in cash then I have lost the job.” + +Typically proof of address, like a recent utility bill, a tenancy agreement, or a council tax bill, is required to open a bank account. + +That requirement prevented Kendrick from opening his first bank account until he was 33 years of age at the start of the pandemic in March 2020,through HSBC’s No Fixed Address service. Launched in December 2019, the scheme has now allowed more than 1,000 people who are homeless to open basic bank accounts. + +The service works with homelessness charities to identify people who need to open the accounts without photo ID or proof of address. + +HSBC’s move has been the most significant national effort a major bank has taken to address the issue. In recent years, the rise of challenger banks, such as Monzo, has reduced the barriers to opening an account but the digital option comes with the need for a smartphone and photo ID while traditional high-street banks, such as Lloyd’s Bank, have combatted financial exclusion on a smaller scale. + +Without a bank account, people face exclusion from the financial system that most people in society take for granted. It can make escaping homelessness even more difficult. + +While Kendrick is still sofa surfing, he insisted getting a bank account has changed his life and offered him the chance to save towards his “simple dream” of training to be an electrician. + +“It changes your life ten-fold,” he added. “It sounds silly to most people because they have always had an account but now everything is cashless and on your smartphone, it really does change your life if you have a bank account. + +“If you can’t use your card, you’re a bit-part of society and you might as well not exist. It has changed things in unimaginable ways. It also gives me lots of hope for the future.” + +HSBC announced on Thursday it was broadening the scheme to Stonewall Housing to help LGBTQ+ individuals experiencing homelessness get access to a bank account. + +Maxine Pritchard, head of financial inclusion and vulnerability at HSBC UK, said: “Without a bank account, people can’t receive benefits which means they can become trapped in their current situation. That just simply isn’t fair. + +[The Big Issue Article](https://www.bigissue.com/latest/homeless-bank-accounts-without-one-you-might-as-well-not-exist/) + +TV Spot: + +[HSBC UK “Vicious circle” by Wunderman Thompson](https://youtu.be/bZthDNmYYmo) +I’m not a property owner and I’m pretty liberal. But I’m honestly perplexed by the amount of anti-landlord memes/posts I’ve been seeing on social media. I’m against the accumulation of obscene amounts of wealth (I am a supporter of Bernie/Warren’s wealth tax plan). However I don’t think it is any more or less moral to be holding wealth in the form of physical property compared to mutual funds, and yet people almost never complain about the holding stocks or mutual funds. Real Estate is a business just like any other. Very baffled by the amount of hate that gets directed towards you. +He suggested using Parametric Customer Core. + +I would probably owe around $60-$80k+ in capital gains tax if I were to sell these RSU's outright. Curious if anyone has used Parametric to sell highly appreciated RSU's. Tax loss harvesting is not something I feel comfortable doing myself +After years of searching, I’ve found land to build a custom home on. I intend to fund the purchase of the land ($700k) and new construction build ($1.1m) primarily with my former FAANG company’s stock, which comprises a scary 40% of my $5.7m net worth. I didn’t work for the ‘F’ or the ‘N’ in FAANG, but seeing them battered this year is a harsh diversification reminder, and I’m hoping a real estate purchase is a good way to achieve this. + +**My net worth is split between:** + +* $3.1m (54%) Vanguard index funds +* $2.3m (40%) former company stock +* $300k (6%) cash + +**My plan:** + +* Make a cash offer for the land ($700k) using my on-hand $300k cash and liquidate $400k in company stock. +* In the second half of next year, liquidate $1.1m of company stock to fund the builder draws. I’m hoping that construction prices will ease next year and stocks will recover some. I know this is a big bet. + +**Questions:** + +* Taxes: Anything I should watch out for when selling $400k of stock one year and $1.1m the next? All shares have long term capital gains (15% tax rate) and I’ll sell the lowest gain lots first. My wife and I are early retired and our only annual income is from dividends ($40k). I’m guessing I should contact my accountant afterwards to begin estimated taxes, so I don’t get hit with a penalty the following year? We’ll also lose any ACA subsidies. +* Percent of net worth: Afterwards, my house and land will comprise 33% of my net worth. Reading past fatFIRE threads, the average seems to be in the 20-25% range. I know this is relative to how much I spend in a year ($50k after dividend income) and what income generating assets I’ll have left ($3m in mostly index funds), but does 33% seem too high? A 4% annual withdrawal rate on $3m in index funds is $120k. 2% is $60k, which is close to what I expect my annual expenses to be. +* Betting the housing and stock markets switch directions: Earlier in the year, real estate went up and stocks went down. I’m hoping the opposite will play out over the next year: the bottom is in for stocks, especially the best-in-class tech ones (my former company), while much higher interest rates will kill demand for premium new builds (builders will have to reduce prices). Would you make the same bet? +* Any other risks you see? The biggest one I see is that if I purchase the land now and then stocks crash before I sell next year to fund my build, I’m left sitting on the land for years while stocks recover. +Welcome to the Daily General Discussion thread of /r/EthTrader. + +Find the latest Daily Altcoin Discussion thread by selecting the top result on this [search page](https://www.reddit.com/r/ethtrader/search?q=Daily+Altcoin+Discussion&include_over_18=on&restrict_sr=on&t=all&sort=new). + +*** + +The thread guidelines are as follows: + +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All sub rules apply here so please review our **[rules page](https://www.reddit.com/r/ethtrader/about/rules/)** to become familiar with them. The rules page is also linked in the announcement bar above. +- If the top page becomes overloaded with memes, all but the top two voted may be removed. If we need to remove a bunch of memes from the top page, post memes in this thread first and upvote the best so the mods know which ones to keep + +*** + + Resources and other information: + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! + +Tether has just 13 listed employees on LinkedIn. [Source](https://www.linkedin.com/company/tether/) + +There is just over $62bn Tether in existence, meaning Tether theoretically has $62bn under their control. [Source](https://wallet.tether.to/transparency?__cf_chl_jschl_tk__=569d26e948b27b5612065dd34dfe9d1938354e50-1624295546-0-ARnBckN33_gX9azsPbMvYz7d1-g0iQMRI5kgVph6MxVxO6N9RQwEEViCBi8c8tfeqoR9GfmcfKIQrvpBLJPOGuF5am6OiD4wD9ADI4UtAFgCy3g18lfsDJCUch-fe8qkslwVXEt-wl22zv0K3XTvlinHcWIiyPR9oFTJvqrDqPD-Y5iatCNQV50ut-jVrub9wflh2qoxbZsr7jVGWgL9akIGR9ekxfhLnx7FeYXCaQB-OY9_9OGuBhdHGDvrZxdvRyJwgq99SlSOs7BJUFVh6--irks2AyDI1CKXLtlPsFGfhyw-Sc2KInYgAw7zmeSizSMwQ1tidgDCIrlq6HAGx6JAH-X35JZi_dmhwlc4YR1Lnu3RT88QHnYS3pUmTFQFtTUF5UyXR5jiywwl-2GBcFAT5bQK5FS7wTLMjnX2xhb2) + +That is over $5bn in assets **per employee of Tether** + +If that seems comically low it's because it is. It's a world record for total amount of money managed per employee. + +The only similarly small number of employees for such a large amount of money under management was Bernie Madoff's ponzi scheme which had $50bn under management with just 25 employees. [Source](https://en.wikipedia.org/wiki/Madoff_investment_scandal) + +-------------------- + +What benefit is there to having such a low number of employees? Lower costs yes but with the money they control and need to invest surely it would make sense for them to have more than just 13 employees doing this? + +Or is it because it's easier for them to conceal fraud when there's only a handful of people being exposed to it and most of them have a large interest in keeping the fraud going. + +Tether has just under $30bn in commercial paper ([source](https://www.ft.com/content/342966af-98dc-4b48-b997-38c00804270a)) which makes it one of the largest US commerical paper market investors in the entire world alongside the likes of Vanguard (17600 employees) and BlackRock (16500 employees). **THIRTEEN EMPLOYEES EVALUATING THE CREDITWORTHINESS OF NEARLY 30BN IN COMMERCIAL PAPER LOANS AND WITHOUT THE OVERSIGHT OF AUDITING.** + +Remember: **Tether has never been properly audited, refuses to be audited and has been caught lying through their teeth multiple times** + +------------------- + +Does this not absolutely terrify anyone else? +As it is right now, banks provide and collect the majority of student loans across the country, there is very little risk for them because the debt is only dropped with death. If America introduced legislation that made all student loans provided by and collected by the schools, they would bear the brunt of the risk/reward. It would seem to me that the schools would then be incentivized to make sure the tuition and loans did not exceed the value that the program provides. It would be a much riskier proposition to leave students 200,000$+ in debt with 12+% interest, if the schools were the ones at risk of not being paid. In my opinion this seems to be the "capitalistic" solution, because colleges that produce students more capable of paying back their loans (better product), would then grow with the market & be able to increase the tuition at a reasonable rate. + +&#x200B; + +Would this be a feasible solution? Why? Why not? +Hi r/fatFIRE. + +I'm a 30M Asian American, working in tech-related W2, on track to FIRE on my own. I'm not fatFIRE'd, but my parents are. I can't verify or prove this right now, but their incoming cash flow in half a month what I make in a year, and they've had decades to compound their holdings. They work in real estate in a VHCOL area. + +&nbsp; + +I'm posting this as a tangentially related question to some relationship problems I am experiencing right now. I'll explain for a few sentences and then get back to the FIREy stuff. There's more details in my posts to other relationship advice subreddits. The below story is relevant for context. + +&nbsp; + +My Asian parents own a business that they'd like to pass on to me. They don't want to liquidate or change its form, they want me to carry on in my father's shoes. There's a catch though. They want me to live with them for the rest of their lives, and break up with my girlfriend who I intend to marry in a year or so. My parents don't approve of her family being 'below' their financial situation. I'm paraphrasing a bit and using much kinder language here. (There's more to it, but those details are in my posts in other relationship advice subreddits. Would appreciate if you left insights there too, or DMs.) + +&nbsp; + +If I don't do all of the above, they'll disown me, and erase me from the family. This is in line with their rural conservative Asian upbringing in a literal communist country, that sons must obey their parents and carry on their legacy. Familial problems aside, I'd like to ask for the opinions of people that I might disagree with, especially if they are anything like my parents. + +&nbsp; + +To make this r/fatFIRE relevant, I want to ask how other fatFIRE'd parents are or intend to transition their businesses to your children, especially if your children are professionally not in the same line of business, trade, or even industry. + +- Have you encountered pushback on what your children want to do for their futures? +- How did you communicate your desire to keep a good thing going, and for them to continue your business legacy? +- Has your culture influenced the way you see the concept of money and marriage? How intertwined are they? +- How would you feel if your son or daughter married someone not on the same financial level as your fatFIRE self or family? +- Do you have guidelines or requirements for what type of person your children should marry? +- If you are an immigrant family, and especially you came from a developing country, do you notice a strong focus on making and preserving more and more money? Have your children come into conflict over the importance of money and the role it plays in our lives? + +These are just some questions I've been wondering lately. You don't have to answer *all* of them, but I would really appreciate your insight on some of these questions. Thank you so much in advance. +EDIT: WOW! First of all, this has been overwhelming. Thank you! Secondly, I told myself I wouldn't read the comments, so if you do have any questions, please feel free to message me privately and I'll do my best to get to you. Lastly, I wrote this to encourage and empower at least one person to follow your dream to trade for a living, or just to make some extra income, or just to be inspired and I'm glad I was able to do that. I'll keep the posts coming! + +TLDR: Blew two $3,000 accounts by being too confident the first time and doing too much the second time. I then honed in on a strategy to become a full-time trader. + +I have now been trading for years now, and along the way, I blew my account two times. I would like to share my story of each time I blew it up, and why I kept persisting. + +Before I ever got involved with trading, I was a chef at a small family-owned restaurant for 6 years, and before that, I was a server for 4 years. As a chef, I thought I was living the life, making $60,000, compared to making $45,000 as a server. Each year, I would get a $1-$3 raise and thought this was the life for me. Money never really motivated me. Meeting people every day, cooking for them, and watching my patrons enjoy the food I made for them was my passion. I truly did enjoy what I did, and what I made was enough to get me by. However, for those who worked restaurant jobs, you know it’s an incredibly demanding job, mentally and physically. I can do this now, but will I be able to or even want to do this for 30 more years? The answer was no. + +I moved cross country to look for a new opportunity, still in the restaurant business, and found a job in a big restaurant chain, that offered a great career path, benefits, and a starting pay, with bonus, of $90,000. I took this job, not because of the increase in salary, but the promise of becoming a regional director that governs up to 60 different locations. Taking myself out of the day-to-day physical location was very important to me. + +I was doing really well. I was sent to 5 different locations called “opportunity stores” to turn those stores around. I proved I can do that by promoting many managers, giving great numbers, and having a good rapport with upper management and people at corporate. However, my promotion was stalled due to unforeseen events. My hours were cut, my bonuses became nonexistent, and my goal to get out of a physical store has now been delayed. The hours would come back, my bonuses would come back, but those reasons were not the reason why I was sullen during this time. It was the idea that my “freedom” of getting out of a physical store, was now getting pushed back. + +Until this moment, I thought I belonged in the restaurant industry because I loved the camaraderie I had with my associates and being of service to my guests. Now, a third component was put into the mix, and I was not going to settle for ⅔ of it. I needed the camaraderie with people, be of service to people, and be free. I realized I didn’t need to be in the food industry to gain all three. + +It was around this time, that I started dabbling in stocks. I started to invest in the blue chips stocks and was a positional, long-term trader. Actually, I wouldn’t even consider myself a trader, because I was going into them thinking I would cash them out when I was 50 years old. I was scared of trading because I was suspicious of it. I was scared because I had/have a problem with gambling. (Will discuss more of this in a separate post.) So the safest thing I could do was pick the biggest names, and hold them for years, and retire when I was old. However, I soon realized that I was still in the same conundrum. I would have to work a long time and I did not know when I would finally get that promotion. Camaraderie, service, and freedom. + +One day, out of the blue, my friend messaged me that he was a day trader for about 6 months, and found little success until he signed up for Tim Sykes. I saw some of his videos on Youtube and thought it was a scam. However, when I talked with my friend to learn more about it, I saw how he started making $1,000, $2,000, $6,000 trades in a day! I took a week off of work to just follow his trades to see if it will work for me. I turned my $3,000 account into $10,000 in 6 trading days! It was too easy, it shouldn’t have been this easy to make the money, right? It turns out, we were both lucky and in a great market. Soon, the breakouts we were looking for would end abruptly. Instead of gap ups, it will be a 15% gap down. Also, slowly but surely, my gambling habits and mentality started to creep back in. I jumped into the deep end too quickly, was too confident, and that *easy* $10,000 became $300 in less than 4 trading days. + +I’d be lying if my attitude was, “oh well, I tried and failed, and only *technically* lost $3,000.” It sucked. Also, I did not just lose $3,000. I lost $10,000. I was not playing with *house money*. It was mine that I earned. However much it sucked, I did not feel defeated. I knew I jumped in without any clue of trading and I was just following trades that my friend was doing. I also knew that I did not want to stare at the sticks all day. It was exhausting and stressful. I actually thought I could do this by being humble, admitting I need to learn from the ground up and try again. I still didn’t feel I could do this as my main job because it did not meet my three “career requirements.” Yet. + +I became a mad man devouring any materials I could get my hands on. I learned everything there were on technical analysis, learned a few fundamentals, paid for multiple private discords, discussion groups, spent money on courses, read a bunch of books, listened to podcasts, and everything in between. I spent more money on these than I had invested into my trading account. After learning all that I could, I decided it was time to put in money again and start trading. I put another $3,000 and was ready to get huge returns. + +Sadly, although thankfully, the market had different plans for me. I learned *too much*. I did not have a system. I was implementing 10 different strategies, with 10 different indicators, and still haven’t mastered the psychology of trading. I was doing too much. With that many strategies, that many indicators, every ticker looked good. I would win some, but take my winnings too early, and lose some, and take them out too late. Ultimately, I was a 45/55 trader, taking bigger losses and smaller winners, and I blew my 2nd account in less than a month. This Bruce Lee quote is everything: “I fear not the man who has practiced 10,000 kicks once, but I fear the man who had practiced one kick 10,000 times.” + +I said “thankfully” before because, without that second $3,000 lesson, I wouldn’t be a full-time trader now. I narrowed my studies to just 1 style of trading. It’s from the great Mark Minervini. I bought and read “Trade Like a Market Wizard” and “Think and Trade Like a Champion” over and over again. I followed his VCP trading system and followed his screeners. I looked for the contractions, consolidations, volumes, and then breakouts. I studied books and traders that he looked up to and admired. I listened to all of the podcasts he was featured in multiple times. I studied over countless hours on charts and dedicated hours and hours of my time looking for past huge runners. See, history really repeats itself in the markets because humans don’t change. + +I now have 2-3 different setups I trade, but ultimately, I am looking for one thing. A consolidation and then a breakout that will go on for huge gains. + +As for the three requirements for a career, I was looking for? I get the camaraderie from my friends who I trade with every day. (Two of my other friends are full-time traders as well, at 33 years old, although they trade futures and use different strategies. My other friends are active in the markets, but still have their full-time jobs) I serve others by getting the freedom I desired. I am helping my friends see that this is possible with hard work and dedication. I so badly want my friends to join me on this road to freedom. I serve by donating money to missions in Paraguay, where I spent two years of my life. I will also serve those who have read all the way down here by sharing what I’ve learned. My successes and failures are a big part of who I am and why I continue to be in the market. It humbles me and teaches me something new every day. So follow along as I start posting here on Reddit, not so much about my picks, but my journey to become the best trader, and hopefully, I can assist at least one person along the way. + +Thank you for reading! +Recall all those damning Robinhood and Citadel emails that were released in the short squeeze litigation? That happened **September 22, 2021:** [https://storage.courtlistener.com/recap/gov.uscourts.flsd.590042/gov.uscourts.flsd.590042.416.0.pdf](https://storage.courtlistener.com/recap/gov.uscourts.flsd.590042/gov.uscourts.flsd.590042.416.0.pdf) + +Gary Gensler's September calendar was released a few days ago: [https://www.sec.gov/foia/docs/secchaircalendar/chair-gensler-public-calendar-2021-09.pdf](https://www.sec.gov/foia/docs/secchaircalendar/chair-gensler-public-calendar-2021-09.pdf) + +Guess who he met with on **Tuesday, September 28, 2021**? + +[September 28, 2021](https://preview.redd.it/y4fl83aalm181.png?width=701&format=png&auto=webp&s=394608ac6613e17045fdd4d63f2f8a5f55135347) + +When was the SEC's Gamestop report released? **October 14, 2021**. [https://www.sec.gov/files/staff-report-equity-options-market-struction-conditions-early-2021.pdf](https://www.sec.gov/files/staff-report-equity-options-market-struction-conditions-early-2021.pdf) + +https://preview.redd.it/tx3th6ellm181.png?width=655&format=png&auto=webp&s=d2cac4b85971d2aca19042c6934a8d4aa0731f7c + +Does anyone seriously think the emails, turning off the buy button, etc., were not discussed? + +Here's an email where they are monitoring Reddit. Gensler, how are you protecting the retail investor here? What the fuck did Vlad & Co say to "persuade" Gensler to turn a blind eye to this stuff? + +[Page 91 of the \\"report\\"](https://preview.redd.it/trspqabcnm181.png?width=580&format=png&auto=webp&s=c68da4997e67b1fa24c613cc76c980737d2e34ec) + +There's other red flags in Gensler's calendar to look into... meeting with Virtu, JP Morgan, Wells Fargo, various congressmen, a Citadel employee with a bunch of other lobbyists... too mad right now to look into it, this shit makes me sick. + +Buy, hodl, DRS 🚀🦍💎🙌 + +**Edit: I sent a FOIA request this morning (11/25/2021) for any minutes, notes, transcripts, recordings and documents related to this meeting. Will keep you all posted. Happy Thanksgiving apes.** +Wondering if anyone knows about Pornstar Finance. [https://www.pornstar.finance/](https://www.pornstar.finance/) Lots of people in the telegram and seems like they are doing things. I'd like to know if it has legs. +🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣 + +Cash payment in lieu of an NFT is a DEAL BREAKER. If you have the shares then you'll get the proper number of NFT's to distribute. The ONLY reason to be mentioning cash payout is if you don't really have our shares. + +BYE FIDELITY + +Edit for character count: Fuck the Hedgies, Fuck the Brokerages, Fuck the DTCC, Fuck the SEC. Gary Gensler is impotent and looks like Nosferatu in a suit. Change my mind. + + +🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣 +Listen, I love Yang's ideas and I even support the idea of a UBI, but I don't see the possibility of it happening even though it seems independent sources claim it would work. I have two big reasons which I'd love corrected if I'm wrong as well as a question: + +Each month, we'd have to raise 253 billion each month, but I don't think that's unreasonable on its own. However, I do think it's unreasonable to raise that much in usable money. There's only 1.5 trillion dollars in circulation, and yearly we'd be raising double that to redistribute in the form of 1000 dollars. Now, I have a couple questions which might help come to my own conclusion here. First, how would this redistribution work? Even with a "value added tax" like I hear thrown around, you can't raise more money to give to the people than exists, can you? This also brings me to another question which is only partially related: how does the government spend 3.8 trillion dollars? What is backing those spendings? + +Would really appreciate some answers. Thanks! + I’ve been part of the PinkPanda community since the beginning, and the work being done there continues to impress me every day. This team is as transparent and as active as it gets. They are constantly in the chat answering questions, all the while doing incredible work behind the scenes to push this coin forward. + +A list of accomplishments so far, barely a week and a half since launch: + +Version 1 of the mobile app released for iOS and Android + +Audit completed by Dessert Finance + +Contract renounced + +Owner doxxed + +Almost nightly informal AMA’s, with an official twitch AMA last Sunday + +$1000 donated to the American Cancer Society + +And let’s talk about the chart. It’s as healthy of a chart as I’ve ever seen, especially for a BSC coin. Steady, consistent, growth ever since launch. And with all the plans coming, I don’t see it slowing down anytime soon. + +This coin is still pre-CMC listing. A ton of updates are still coming for the app, the biggest of which will be a 5x leveraged mobile DEX. That is an incredible use case for this coin! It would be both the first DEX with leverage and the first with a mobile app. We know that trading on BSC is not always easy, and not very accessible to the average investor. Imagine how much that would change with the ease of use of a mobile DEX. The leverage and other built-in functionality (like limit and stop orders) will help bring maturation to BSC trading and further increase the appeal to more traditional traders that are used to these options. + +Sometimes lost in all of this is that this coin also has a charitable mission. $1000 has already been donated to the American Cancer Society, with much more on the way. + +Tokenomics + +1 quadrillion total supply + +Breakdown: + +50% burned (500T) + +20% presale (200T) + +20% initial liquidity (200T) + +5% charity and community airdrop wallet (50T) + +5% dev and marketing (50T) + +Taxes: + +5% of each transaction auto-locked in liquidity on Pancakeswap v2 + +5% of each transaction automatically redistributed to PinkPanda holders + +This one is going places. I have never had so little anxiety about a coin. I go to sleep, I wake up, the chart continues to grow. The dips are eaten faster than I’ve ever seen. The future is so bright for this coin it’s blinding. You won’t regret joining this one, both for the long-term potential, and the amazing, fun, welcoming community of pandas. Hop in the telegram and check it out for yourself! + +Telegram:@PinkPandaDefi + +Twitter:@PinkPandaDefi + +Website: pinkpanda.finance + +Reddit: PinkPanda + +YouTube: Pink Panda Finance + +Medium: PinkPandaDefi + +Twitch: pinkpandafinance + +Bamboo soon. +I'm new to the investing world. I always hear people trying to learn to trade stocks and derivatives but I rarely hear people learning to invest and managing the equity portfolio on their own. + +It seems like when it comes to investing everyone takes the mutual fund or some sort of similar route. + +Keeping this in mind does it really make sense to learn to invest so that I can manage my own equity portfolio? + +Also how beneficial would it be compared to investing via mutual funds? +I have about $9000 in my account, as I was saving up for a new car. I recently got a promotion at work which bumped me from $50k to $60k annually. This past year I stopped contributing to my 401k since we lost our match and had a salary reduction during the lockdowns. Our match is still not back. + +Also, my long distance college student gf moved in with me. She helps me with most thing but my expenses went up a little bit. + +I am really split between putting $5k in the stock market or putting it down on a new car (would rather it be in my retirement fund but it’s already been taxed so no point in that now). For reference, I probably spend about $3000 on repairs a years for my car, and it has 141k miles on it. + +Feeling paranoid and guilty about not contributing to my retirement for a whole year and really can’t decide what to do now. +**EDITED TO ADD THE FOLLOWING:** + +***\[START of edit here\]*** + +*Page 5 of the report states "unrisked mean totals are not representative of the expected total from the prospect and assumes a success case in all 11 reservoirs* + +For XST: + +Andrew Childs has been DAY TRADING this fucking stock himself + +11/02/21 Andrew Childs Buy +10,000,000 ( Exercise of options @ $0.005 ) + +11/02/21 Andrew Childs Sell +3,700,000 (Sold on the same day for $0.02 ) + +11/02/21 Andrew Childs Sell +500,000 (Sold on the same day for $0.02 ) + +&#x200B; + +David McArthur has also been DAY TRADING this stock himself + +16/02/21 David McArthur Buy 5,000,000 ( Exercise of options @ $0.005 ) + +16/02/21 David McArthur Sell +2,500,000 (Sold on the same day for $0.02 ) + +16/02/21 David McArthur Sell +2,500,000 (Sold on the same day for $0.02 ) + +\---- + +Further to these, the announcement released on the 17/02/2021 shows that they have exercised their options AGAIN for more. + +It seems like they liked the rush for flipping for a quick profit. So both Andrew Childs and David Mcarthur have acquired more. + +Andrew Childs acquired another 10 million in XST + +David Mcarthur acquired another 5 million in XST and 2 million in SGC + +\---- + +Going by the above, these are the 2 directors / dogs that dumped onto us on the market. Theyve now acquired the latest batch at the following rates (XST 0.005c / SGC 6c). + +Is this the company you are supporting ? Its nothing but a SHAM. Their options expire in the year 2022 , so why are they in such a rush to exercise and flip them now? + +***\[END of edit here\]*** + +\---------------------- + +I am writing this because i feel like weve been duped. + +Disclosure: i sold out today with a hefty loss , and i didnt make that decision without careful consideration. (if the share price went below what it got to, i would be officialy outside the territory of "only invest what you can afford to lose". Its a shame because ive lost all my profits from prior weeks/months (as always happens to me) and back to square one. Lesson learnt? lol , i never learn my lesson. True autist right here (i make good gains then get too excited and over confident, lose all my gains and start again. Its a never ending cycle). + +**Now back to the point:** + +SGC has mentioned on numerous occasions: *"Sacgasco has an extensive portfolio of natural gas producing wells and prospects at both exploration and appraisal stages,* ***including multi-Tcf opportunities***\*."\* + +From Multi-**TCF** to **19.5bcf** \- what the fuck , thats not even in the same ball park , not even close. Im not sure how they done a CR with misleading information. + +Ive looked deeply into SGC and i can see theyve been a failure for the last 5 years. Their share price had a spike in 2017 and then back down shortly after. They live off CR money, and also, they sell shares on the market to us retail guys. So the other day when there was heavy selling , it could have been the directors themselves offloading on to us. What pieces of trash. + +The same goes for XST. Their share price actually started to decline from 2017, YoY declining further. + +The #1 shareholder of XST is Petroleum Ventures Pty Ltd , and that is Andrew Childs (he is the chairman of SGC and also the managing director of Petroleum Ventures). + +To me it looks like they are all one and the same, same people on the board, and XST is possibly just a shell company to mitigate risk for SGC. Either way they are all heavily affiliated, and they all sell shares on the market to make money. + +**Why did i decide to sell:** + +Firstly (other than the bad report and misleading borba potential from management), there were heavy sellers every day , and low volume buyers. Whenever the buyers start touching a block, these heavy sellers would add another 300k units for sale. It was ongoing with no remorse. The sellers also would keep selling to the next available block when buyers stopped buying at the current block (they dont care about the price, because they have obviously bought in a long time ago, or in the CR for cheap, or with converted options for cheap and are still making good profits). It was definitely not retail dumping those big numbers of shares over the past week. Ontop of that i saw the announcement of the directors exercising options for 0.006 c and were ready to start offloading on market again too. + +That brought a negative sentiment to the management team. Because they were preparing to dump when the SP rose (or thats what we think anyway). Compare that for example, to HT8 director who buys on market when the price drops. These guys are dogs + +Also, based on my opinion, i think that the next few announcements , if very positive and received well, will bring us back to the "break even" zone of the ATH range. I dont see this as that multi bagger rocket anymore after the resource report. AND, if the next few announcements are not received well, or if theyre trash, (or for example if they find gas but its not enough gas to make it commercially viable) we could see some more serious losses and fall in the SP (and that i couldnt afford to go through). Now, it has been a very stressful week and id rather take the hit and recoup the funds elsewhere than to stay on this dog shit for another month with a chance of losing even more (if the project fails). ***Its not a high risk high reward, its a high risk , low reward from my understanding.*** + +Now ofcourse i could be wrong and it could rocket , its just my opinion at this stage + +&#x200B; + +Now i have taken some info from one of our own autists, who did also post on HC recently with his DD: + +[**Catch2200**](https://hotcopper.com.au/search/search?type=post&users=Catch2200) + +**"The 70% chance of geological success is the chance of at least one layer being successful. Individually each layer only has a 17% chance of success (see page 4).** + +**The table on page 4 shows that the total in-situ for SGC (their 66%) is 74.5bcf.** + +**The table on page 5 then rolls up each of the individual probabilities for each layer to determine an all-together probability of success. Remember the 70% chance is only the chance of at least one successful layer. This leaves you with a probability of 19.5bcf.** + +**You can’t read the 141bcf or 74.5bcf figures without then going to the page 5 table. The page 5 table is there for a reason - you can’t ignore it just because it’s a less exciting story.** " + +" **I was holding SGC for a chance of a proportion of a** ***TCF asset*** **in Borba 1-7, not for a proportion of 26bcf. It’s actually 19.5bcf for SGC once you apply the 70% factor (see the table on p ok age 5). That 19.5bcf figure also doesn’t account for chance of development (ie commercialisation) which is estimated at 80%.** + +**When you take all of this and work out a NPV (difficult to do confidently without knowing other factors like how long it could produce for, but I ran the numbers assuming 5 or 10 years with a 10% discount rate each) and you don’t get much compared to what it could have been.** + +**19.5bcf over 5 years at $5 per MMbtu with a 10% discount rate is a NPV of $74M. That becomes $60M when you factor in 80% chance of commercial success.** + +**You never get the full NPV reflected in a pre-production company share price. Most of the time I would expect 1/4 or 1/5 of the NPV for a non producing company but SGC is very close so I’ll call it 1/3 to 1/2 NPV. This means Borba 1-7 is currently worth $20M-$30M on a fully risk adjusted basis to SCG.** + +***It should be enough to sustain a share price around the $0.08 - $0.1 level for sure,*** **and I can see upside above there when you factor in the Canadian assets and also the chance of Borba being more successful long term.** " + +**I think it’s even heading towards good value at this price ($0.08 close), but it’s gone from being an absolutely no brainer throw-everything-at-it play to a more cautious play.** + +\---------------------------------- + +As we can see from the proper DD above, if everything goes well then we're on track to sustain the 0.08-0.10c level (i know everyone calculates / does DD differently, but this autist is a realist, and not aHC ramper). From now until then we may see more volatility (including spikes UP in the SP - which will be good chance for you to get out without loss) , and if things dont go so well the risk of big falls in the share price is high. I dont feel like its worth the risk at all to stay in (IN MY SCENARIO, where i had invested way too much capital and **Liquidity in SGC is BAD**)**. But for others with smaller investments, i recommend to hold and ride it out, you might come out ontop. Theres a better chance for you with that.** + +**In saying that , however, if they are successful it can open the doors for bigger things - and for my diamond hand guys, i truly hope it rockets and they find more gas than ever expected** + +Also im sorry if anyone jumped on board because of my posts , i was also duped in the hype and marketing gimmicks . + +At the end of the day, for all we know next month i could be kicking myself for selling, it was/is a gamble - the gamble may or may not pay off for diamond hands. + +Also , now you know the reason why traders prefer XST. Because if you want out its so easy to get out without affecting the share price. With SGC, for me to get out i had to sell in a range of share prices (because not enough buyers / bad Liquidity .). So to exit i needed to wipe out 5 buyer blocks and drop the SP . And if there were no big buyers i n those blocks it could have been worse. I actually believe they were 'fake' orders , because ive seen it before. Where pumpers would put in big buy orders below the current price to make it look like theres big buyer interest starting, and then get buyers to buy their shares at the current share price (i hope so too because fuck them). Those buy orders never existed prior to the rapid decline in the SP. And whenever they sold 200k shares they would add another 200k shares instantly. Ruthless dumping + +Anyway , this is a super sloppy post , im tired, apologies in advance +Just wanted to share this because it makes me happy. + +3 months ago I asked Reddit for advice because for the first time in my life I had savings thanks to the stimulus check. I'm very poor, I live on about $13k/year, so the stimulus check felt like I had won the lottery. Anyway, people on r/personalfinance told me that I should try and get my GED, that I write well so I had a chance to succeed. I ran away from home at 15 and dropped out of school so that wasn't even on my radar anymore, but I decided to accept the challenge. + +So I went to the library (that's where I spend most of my free time) and a librarian helped me find some free online GED-like tests. I tried and it wasn't as difficult as I had anticipated, so I decided to study for a few weeks and then go for the real thing. A lady at church insisted on paying for the tests in exchange for something I did for her so I didn't even have to worry about that. + +I took the tests, it was a leap of faith but it worked!!! I succeeded at my first attempt. I know it's not much but I feel proud of myself. Now my employment situation hasn't changed and I'm still dirt poor, but hopefully having my GED is the first step towards a better job and higher income. Maybe I could try and attend community college? Not sure if it's going to work but at least it's good to succeed at something once in a while! +Hi, for some background to my unique work life at a start up. I (21 M) run a a youth MMA gym and my boss/mentor and the start up capital and owner of the studio has been training me to take over our and operate the school. + +He taught me how to sell, manage members, teams, financials, marketing, and network with the chamber of commerce. + +He recently offered to buy my car (that I almost exclusively use for business purposes) off of me and give it back to me as a company car. Any suggestions on how to do this? +The top ~5 comments in every other thread are just low-effort "jokes" about market always going up or stocks not equal the economy. + +Do people not get tired of it? + +There are plenty of factors that could contribute to the bull market: fear of inflation, growing number of retail investors, structural changes in economy, reduced discount rate in DCF model, etc. But the thoughtful replies seldom make it to the top. + +I wish the mods could do a better job blocking low-effort posters who are basically spammers at this point. +I have been reading more lately about all the US tax liabilities that can come into play in the crypto world and have started worrying about how much I would owe for 2017. I was starting to lose some sleep on the matter and finally decided to organize all of my activity once and for all. I figured I'd write this post for other people who might want to find out what I have learned in this process. I am filing in the US, but some of this might apply to people in other countries as well. + +If you have just bought and HODL'd then it will probably be much simpler for you. But if you have done ICOs and any trading and are worried about this stuff, don't worry too much. Its totally possible to get yourself organized with a little bit of work. + +**Background** + +Bought my first ETH in Feb '17 from Coinbase and since then: + +* Have traded probably 50 different tokens on 10 different exchanges +* Have participated in 21 ICOs +* Have received Airdropped tokens +* Have sold some and withdrawn profits to my bank account + + +**The Tools** + +The best place to get started is bitcoin.tax + +[Referral Link](https://bitcoin.tax/r/KBBGc8oZ) + +[Normal Link](https://bitcoin.tax) + +I signed up for the 1 year plan for $19.95 (they also accept crypto) and believe me its worth every penny. You can use it for free, but are limited to 100 items (I ended up having > 1500). It really does almost everything for you, so you don't have to worry about figuring out the cost basis yourself. The only time USD was involved was buying via coinbase, everything else was handled as a token to token trade. + +Microsoft Excel or Google Sheets is a must if you are doing any trading on the non-supported exchanges because you might have to massage the data into the correct format. + +[Etherscan](https://etherscan.io/) + +Unfortunately, for some trades and the ICOs, I had to go directly to Etherscan to track down the data. + +[DeltaBalances](https://deltabalances.github.io/history.html#0xe33922526d91830a78faad3b6ac786a9acf2cc85) + +This is a lifesaver for tracking trades made on ED. I wasn't able to get the export feature working, but copy/pasting the table into Excel was fine. + +[Html Table to CSV](http://www.convertcsv.com/html-table-to-csv.htm) + +If you are having trouble copy/pasting table data this comes in handy. You can just copy the raw table HTML from Chrome Dev Tools and get a nice CSV. + +**Exchanges** + +I am only going to list the exchanges I use and how I was able to get the data into bitcoin.tax. But regardless of the method, make sure you verify all the data that was imported. The system did a bad import on my Bitfinex data and I had to wipe it and reimport because it was missing a bunch of rows. + + All the importing is done on the trading tab of bitcoin.tax. Some exchanges require you to download a .csv file from the exchange website, and some have direct API access. Just follow the tutorials on bitcoin.tax for each exchange. + +**The Easy Ones** + +Bitcoin.tax supports API data pulls for these exchanges: **Bitfinex, Coinbase, GDAX, Kraken**. For these, I still recommend going to the exchanges and downloading a copy of your history for your personal records. + +You need to login to the exchange and download trade history and then use bitcoin.tax's import tool for these: **Binance, Bittrex, Poloniex** + +**The Tough Ones** + +Trades made on **Etherdelta** present a bit of a challenge. There is no direct import into bitcoin.tax so you will have to manually compile a CSV and import it to their system. They give you a template to follow with the required data and it will require a bit of "massaging" to get the ED data to the correct format. For this is it extremely helpful to use DeltaBalances. For each wallet you use you will need to check the trade history and go back a sufficient number of days to cover your trading history. Warning, it might take a long time for this process to finish and it isn't 100% reliable. When I ran it, it needed to download > 200MB worth of data for the 260 days I went back. My suggestion is to run it a few times to validate the results. You will need to run it for each wallet you use to trade on ED. Once you get the results, you can try copy/paste the table into Excel and then format the columns to match. + +**Liqui** was the biggest pain in the ass of them all. If you traded a lot on Liqui, be prepared for some pain because they have no export and only show you the history of 1 pair at a time (and only the last 30 trades!). Liqui has over 250 trading pairs so if you forgot what you traded, you will tediously have to go through each pair to check. I couldn't bear this, so I ended up coding a custom script to query all 250 trading pairs and dump out the data for me, then I had to import that into Excel and format it to match the bitcoin.tax template. + +**Kucoin** wasn't too bad. They don't have an export function, but you can copy paste the tables into Excel and massage the data there. + +I did a few trades with **OasisDEX** but when I went there it didn't have any of my history, so I had to manually cobble that together from looking at Etherscan. Luckily it was only a few trades or else this would have been very tedious. + +**ICOs** + +Like I mentioned, I participated in something like 20 ICOs this last year. Unfortunately I have no records of any of them. In bitcoin.tax I handled these as just another trade. In order to track down the ICOs I participated in, I was forced to use Etherscan and go through my whole transaction history looking for them. In order to add the trades manually in bitcoin.tax you need the Date, the # of ETH you spent and the # of tokens you received. It's not super difficult, but just very tedious. One that threw me for a curve ball was RedPulse. This was a NEO ICO, but adding a trade manually doesn't yet support NEO as a currency. The workaround for this is putting it into a CSV and importing it that way. In fact, if I was to do this again, I would have built a CSV for all the ICOs and just imported it that way rather than inputting them one-by-one. + +**Airdrops** + +I treated airdrops as "Gifts/Tips" under the income tab. I had to find these through Etherscan. + +**Verifying the data** + +In order to verify that all seemed right and there are no problems, there are two things that I was working toward: + +* No unmatched trades -- On the reports tab, you can filter by "unmatched trades". Ideally you won't have any of these. If there are some, you may need to do some more digging to see why + +* Closing position report -- On the reports tab, your closing position report should match as closely as possible to your current holdings in Blockfolio. + +**Conclusion** + +Overall, although there was some tedious parts, this was a really good exercise. Going through my entire history gave me some great insight on how my strategies played out (ICOs were great / I suck at trading). As far as the taxes themselves, it turned out to be a lot more than I was expecting, but considering the gains I am not too sad. Going into this next year I am going to make some changes. First of all, I will probably stop trading as much. It just wasn't that successful for me and created a lot of work and taxes on top of that. Secondly, I really want to try and stay away from exchanges that don't (or don't plan to) offer history exports. Third, I will probably hold most of my unsold ICOs for at least a year so as not to be liable for short term gains. Lastly, I will keep better records as I go along so I don't have to do so much digging for next tax season. + + I hope this can help some of you guys figure this out and I would love to hear any additional tips from those of you who have gone through this. + +Edit: A couple other hiccups that I just remembered. Some tokens change their symbol, this can cause some havoc, I had done some trades in MyriadCoin as MYR then it changed to something else and it got all wacky. Updating the old token symbol to the new one seemed to do the trick. Also, to add to the Liqui woes, I had bought some BCAP way back in the day, but it got delisted so there is no way I found through the UI to get that information. The only way I found out I had actually done that trade was that the script I coded iterated through every possible trading pair and only then it was uncovered. + + +Edit #2: I got a request for the [liqui ruby script](https://pastebin.com/UQGbTGat) +Long time lurker, first time poster. I just saw a promo on Bloomberg for an interview with Ken Griffin today at 1 pm EST. It mentioned that there would be a wide range of topics, but I'm guessing he will spend most of the time talking about "conspiracy theories" and trying to make himself look like a good boy. Either way it should be entertaining and I can't wait to watch him read from the teleprompters again. + +Edit: +For anyone asking about how to watch online, live stream link is below courtesy of u/wingzttv + +https://www.bloomberg.com/live + + +Edit 2: +Looks like it got pushed back to 1:30. Kenny probably needed a bit more time to rehearse. + + +Edit 3: +Some people were having issues with the bloomberg link and apparently there's a 30 minute limit. Alternate link is below courtesy of u/gordiart + + +https://oneotv.com/bloomberg-live-tv/1/ +https://www.youtube.com/watch?v=dp8PhLsUcFE +Hey friends, + +I keep hearing bonds have no return and aren’t worth it now. Wouldn’t this make it the best time to get them, when they are low? + +I’m looking to diversify between various indexes: stocks (USA/foreign/emerging), bonds, TIPS, commodities, REITS, crypto. + +Can anyone lend me any advice. +Also anyone know a good bond and TIPS Index? + +Thanks so much!!! +I'm pretty young, <30, basically retired through a windfall that was not career related. NW \~$10MM. + +There's no big pressure for me to work anymore, but some small amount of income through my own effort does make a difference given my time horizon is \~50 years (with any luck). + +A lot of full-time jobs are a raw deal and take a ton of time, and I can't seem to find any meaningful part-time work in my field. I also have this impression that freelance gigs are low quality. As background, I have some years of experience in software but I'm not sure I want to stay in it, if my only option is to grind. + +Does anyone have any suggestions or ideas about how to handle, both practically and emotionally, this situation, and how to experiment with finding meaningful work? + +I recognize that I'm pretty young and that things and priorities change. Mostly trying to take things slowly. That being said, I have a ton of energy to produce things but am struggling with finding the right outlet for that energy. +&#x200B; + +[Gain Porn](https://preview.redd.it/e9fci7lucun61.png?width=1125&format=png&auto=webp&s=d4207c58310dbff4febf197a6761a34816bb7712) + +Super happy that I finally squeezed that last bit of theta off this a.m. to lock in that thetabanging five bagger!!! + +Holding all cash atm to take a breather and wait for the next set of opportunities to show; definitely expecting more volatility to come in within the next week or so. + +Positions closed this morning (so I don’t get banned for not posting positions): + +* GME PCS 35/40 Strike Exp 2/12 +* AMC PCS 4/5 Strike Exp 2/12 +* SPCE PCS 45/50 Strike Exp 2/12 + +Started with $52k of savings in my RH account during early days of 2020 aka pre-covid era, and been spreading options since then. Strategy is all call or put credit spreads on multiple tickers at any given time, 10-15 DTE, at around 16-40 Delta. + +Planning on doing a full writeup of my experience/strategy later if and when I procrastinate on my studies again. Happy thetaganging! + +**~~Full Writeup~~** + +Heads up, I also secured a subreddit under the same name as my account to share all my thoughts and opinions in one easy-to-access place, where I will re-edit this writeup with more context and detail on each line item above for sharing with non-theta-gang Redditors. Thanks for reading! + +**RE-EDIT:** I refined the write-up with more details to allow options beginners to better understand my strategy. Check my post history to find it. Thanks! +Hello everybody, + +dont be harsh on me, I am new to investing. I read a lot about how Ishares is the market leader in ETFs, but on Reddit everyone seems to invest in vanguard. + +Is there a big difference between the two in the major world etfs? +**EverRise is the original & first ever buy-back hyper-deflationary token in the world.** + +The same way SafeMoon paved the way for thousands of other coins to introduce the redistribution to holders, EverRise is the first to introduce this Buy-Back feature on top of redistribution to holders. + +**EverRise is establishing the new standard of DeFi tokenomics with its innovative buy-back system and game changing use-cases. ** + +This traditional stock market concept is now revolutionizing the crypto world. In the stock market environment, BuyBack means buying back the shares of a company in the open market, which increases the value of the stock. + +**On the EverRise protocol, the tokens are bought back from the market, and then instantly burnt, increasing the investor's value.** + +Every transaction has a 6% buy-back tax. The tokens are converted into BNB and securely stored in our buy-back contract “The Kraken”, to be used later to purchase tokens from the open market and automatically burn them. This creates a true burn from the circulating supply that guarantees the price per token will increase every time the buy-back is activated. + +🔥**$10.8M USD used so far in strategic buy-back burns (18.9% of circulating supply)**🔥 + +The EverRise "Kraken" Strategic Reserves are deployed at specific moments to keep an uptrend going or break a downtrend. This is a game-changer and a true revolution in the crypto world: a coin that can reverse downtrends, and big insurance for investors and long term holders. + +**Holders are additionally "auto-staked" instantly receiving 2% of the transaction volume and you can watch your wallet grow in real-time.** + +EverRise is addtionally working on four dApps: EverOwn, EverLock, EverSale and EverWallet. Those projects will solve problems on the crypto industry and will be a source of revenue for the project and the holders. + +📄 **TOKENOMICS** 📄 + +* 6% Buyback tax, used for true burns immediate strategic upward effect on price +* 3% Marketing +* 2% Distributed to Holders + +✅ **ACHIEVEMENTS** ✅ + +* Listed on CMC, CoinGecko & Blockfolio +* 4K BNB Presale sold out in 10 seconds +* 65K+ Holders +* 34K+ Members on Telegram +* $45m+ Market Cap +* $10M 24hr Volume +* $2.5M USD "Kraken" Strategic Reserves (8K BNB) +* $10.8M used in Strategic buy-back burns +* Listed in 3 Exchanges: BKEX, LBANK & ZT Global (though buy on Pancakeswap 😎) +* Code audited by Certik and Techrate +* The most engaged community in the crypto world and the most trusted dev & team +* Big marketing wallet for non-stop promotion +* 2nd July NY Times Square Billboard +* Luna PR as agency of record +* Most searched token on CoinMarketCap https://twitter.com/CoinMarketCap/status/1411859090964467714 +* Donated $100,000 to Binance Charity Fund +* 11th July Btok ads in China started for 5 weeks + +🔼 NEXT STEPS 🔼 + +* Certik AMA with Doxxing on July 15th +* dApp EverOwn (Contract locking; allowing community vote to unlock if fixes need to be made) +* dApp EverLock (Liquidly locking) +* dApp EverSale (Pre-sales) +* dApp EverWallet (Wallet) + +✍️ Contract: 0xc7d43f2b51f44f09fbb8a691a0451e8ffcf36c0a + +🌐 Website: https://www.everrisecoin.com + +🐤 Twitter: https://www.twitter.com/EverRiseToken + +💲 Twitter Price Bot: https://twitter.com/everrisewatcher + +📢 Telegram: https://t.me/everriseofficial + +👾 Discord: https://discord.gg/EverRise + +📌 Reddit: https://www.reddit.com/r/EverRise/ + +📋 Certik Audit: https://www.certik.org/projects/everrise + +🔒 Liquidly locked for 1 year: https://dxsale.app/app/pages/dxlockview?id=3651&add=0&type=lpdefi&chain=BSC + +☀️ With #EverRise, we all $RISE together ☀️ + +*Note*: Make sure you are buying the correct contract! Easy way to ensure you are buying the correct coin is to switch on the "PancakeSwap Top 100" list: + +In pancakeswap when buying; when you choose which coin to buy switch on "PancakeSwap Top 100" in Manage Tokens to have the real EverRise (with icon) show up as an option and use 13% slippage. +> https://seekingalpha.com/article/4349297-uber-announces-much-diminished-tam +> +> +> UBER’s CEO Dara Khosrowshahi once sold UBER as the next Amazon, promising that “cars are to us what books are to Amazon.” Link here. Khosrowshahi, who was Barry Diller’s top salesman for a decade, pitched the taxi-hailing app, repackaged as “rideshare”, as simply the first step on a journey to global domination. UBER would enter and dominate “food delivery, freight, autonomous vehicles, and even buses and bikes”. Later, he added flying cars. By 2023, Khosrowshahi continued, UBER could run the entire transportation network for a city! As recently as UBER's latest 10-K, filed in February, UBER characterized its Freight business as "revolutionizing" the freight industry. And now they are simply going to shut it down? None of these promises have ever happened, of course, and with this week's forced retrenchment, likely never will. +> +> Severe and unsustainable cash losses have forced UBER to ratchet back its strategic ambitions; to raise another $1.0BN of junk bonds at a steep 7.5%, and reduce on-the-books headcount by at least 25%. UBER will likely cut its "non-core" businesses, including freight, autonomous vehicles, flying cars, artificial intelligence, and job matching. These businesses, together, were the secret sauce that was to turn a simple and old-fashioned taxi-hailing app into the next big thing, rivaling Amazon in the scope and reach of its operations. These promises were what drew investors as big as Texas Pacific Group and Softbank in at valuations north of $70BN and even promised to approach $100BN - for a business that, in the here and now, is only able to generate revenues of $14BN, with growth slowing sharply, while margins remain massively negative, and billions of cash losses pile up - and that best case was pre-COVID! +> +> Now, UBER faces a sharply diminished TAM, or total addressable market, as it gives up its ambitions to expand beyond taxi-hailing and food delivery, and major American and international corporations in various industries, including technology, media, real estate, airlines, hotels, and entertainment destinations all prepare us for a world of sharply diminished transportation needs. Where workers will shift to permanently working from home; where international travel will be diminished for years; where even domestic destination travel will face diminished capacity and utilization. +> +> None of this has yet sunk into the minds of equity market investors. +> +> THESIS +> +> Diminution of Total Addressable Market. Uber is likely abandoning its ambitions to be a leader and create a revenue generating business in nearly every area besides its core taxi-hail and food delivery business. These early-non-core businesses, while inchoate and pre-revenue, gave investors hope that UBER was not just an old-fashioned transportation company making use of the latest technology - smartphone apps - but an actual technology company, with the same opportunity for horizontal expansion as Amazon. This hope was among the reasons why a negative cash burn of several billion dollars for a seemingly mundane business could turn into a $59 BN valuation. That hope is gone. +> +> For its remaining core business, taxi-hail, the world has changed: +> +> Negative Secular Changes to UBER’s Core Business +> +> First, we start with the massive secular change we are witnessing in the American workplace. Then, we move on to the lengthy and even semi-permanent changes to restaurants and travel. +> +> We are witnessing a generational acceleration in work-from-home, in which commuting to and from work is facing the biggest and fastest change in its history. Companies such as Google, Square, and Twitter are preparing for a future in which employees may work remotely – forever. Others such as Facebook, JP Morgan, Citibank, American Express and Microsoft have taken steps in this direction. Employees who commuted to these workplace jobs were often customers of UBER. Many of these customers and their "rideshare" business won’t come back. Here is a sampling of recent headlines that will negatively impact UBER - for at least several quarters in some cases, permanently in others: +> +> First, Twitter. This one is permanent: +> +> +> +> Next, we have Square, also offering permanence: +> +> +> +> Now, we turn to Facebook, who for now, is only planning until the end of the year: +> +> +> +> Now we will shift to the banks, which are not only continuing work from home, but also seeking semi-permanent shifts away from urban centers, another hit to UBER's business: +> +> +> +> Citi is but one example; the list goes on and on, and is only growing by the day. +> +> Next, we have buy in to work from home from the media, who indicate that working from home is the right thing to do: +> +> +> +> And the NY Times weighs in on the nascent trend: +> +> +> +> +> +> +> +> We also have consultancies now adding their voices to the chorus of work from home: +> +> Surveys also indicate there is a new and growing movement for work-from-home accommodations. Global Workplace Analytics, a leading authority on integrated work at home strategies, recently published a report in which they forecast that as much as 25-30% of the workforce will be working from home by the end of 2021. See the full report here: +> +> Work-at-Home After Covid-19-Our Forecast - Global Workplace Analytics +> +> These are the thought leaders. We are witnessing a tsunami of potentially permanently lost taxi-hail business for these former commuters. While some of the headlines may say only through 2020, these arrangements are likely to be made permanent in many cases. +> +> And now, the rest of the ride-share customer universe: the restaurant, travel and leisure industry have been decimated, with full year 2020 volumes estimated to be down anywhere from nearly 20% (fast food) to 40% (hotels) to more than 50% (airlines and certain destination-based entertainment.) +> +> Obviously, none of these industries by themselves comprise UBER's exact customer base, but taken collectively, they are representative of what has happened to the total addressable market: it is severely impaired. +> +> Selected Peer Group Performance 2020 +> +> Throughout the latest strategy retreat, 25% work force reduction, revenue collapse, junk debt capital raise, and multi-billion dollar cash burn, one thing stands out: UBER’s high flying stock, which has surged this week along with the NASDAQ market to a new high for the year of $59 billion, now up 16% on the year. Stated another way, stock buyers have treated COVID-19 and its catastrophic impact on UBER’s revenues and margins as a net positive catalyst. This stands in stark contrast to the many other companies operating in and round UBER’s universe, including hotels, airlines, lodging, office space, and even other “unicorns". +> +> We highlight the 2020 changes in valuation of numerous companies that derive revenues from similar underlying strategic drivers as UBER: commuting to work, commuting to airports, commuting to leisure activities, commuting to restaurants and bars, and commuting to vacation. We lay out the year to date equity returns, followed by consensus changes to 2020 forecast revenues. Every data point indicates UBER’s valuation change is completely inconsistent with its related peer group. +> +> First, we frame UBER’s equity valuation change year to date, along with the consensus expectation for 2020 Revenues, and list how they have changed, showing the January 1, 2020 consensus estimate, followed by the current 2020 consensus estimate. +> +> As you can see, UBER is up 16% year to date, while its 2020E Revenue expectations have been reduced by 29%. +> +> +> +> Then, we turn to the various comparably impacted industries, as described above. We start with Airlines, as airports are a primary source and destination of UBER customers, and note the average hit to airline valuation has been 66%, while the average expected hit to revenues in 2020 has been 56%. +> +> +> +> Next, we look at Hotels, a common destination and origin for UBER customers, where you can see the average hotel has taken a 39% valuation hit, while the expected revenue decline is 40%. +> +> +> +> Office REITS, which we also use as a proxy of demand for commuting to work, have seen an average 42% decline in valuation, with only a 5% hit to revenues. Here, the financial forecasts are out of sync with the change in valuation. Even the out years look similar. Expect the numbers to come down, significantly. +> +> +> +> Restaurants are a large and fractured group, and we chose McDonalds as simply a directional indicator: +> +> +> +> And finally, the still-private “unicorns”, who bear much structural similarity to UBER, particularly AirBnB which also was forced to fire 25% of its work force, and to reduce its strategic scope to “core” operations while giving up on growth opportunities. Here, you will see that AirBnB recently took a 52.6% hit to its private market valuation since 2019, and WeWork took a 60% hit to its December 2019 valuation (which was itself an 84% hit to its January 2019 valuation). AirBnB’s CEO also wrote a letter that sounds nearly identical to UBER’s CEO “I’m-sorry-but-you’re-fired, our business is collapsing” letter. +> +> +> +> The overall context should be clear: UBER's entire ecosystem has experienced a volume and valuation collapse compared to UBER's year to date double digit stock price growth. This stock price growth is inconsistent with the underlying data. +> +> We specifically concede that none of these companies are perfect comparables, but all derive revenues from a similar ecosystem: the home-work-travel-leisure nexus, and their customers must be transported somehow to their offices, their hotels, their airports, and their leisure AirBnB vacations. Together, they paint a picture: UBER’s equity price has largely ignored the reality of a collapsed ecosystem, and is the only related equity that not only has not collapsed, but is actually UP double digits on the year. +> +> Will UBER’s business come back? Absolutely, some of it will come back. The travel/airline/hotel transport nexus actually has the highest probability of coming back, but the longest lead time. These won’t see even a near-full recovery for several years, in line with forecasts for hotel and airlines revenue. The most at risk revenue is actually related to work commuting: many employers are in the process of shifting to permanent work-from-home arrangements. UBER will never recover this revenue. Much of the work commute revenue IS NEVER COMING BACK. Thus, UBER's TAM has shrunk. +> +> UBER's Core, or The Remaining Businesses +> +> What do the taxi-hail, or Rides, and Eats businesses really look like on a stand-alone basis? What are they worth? +> +> UBER shows a separate revenue and "adjusted" EBITDA figure for each of its remaining core businesses. +> +> Here is a snapshot of historical revenue breakdown: +> +> As you can see, the Rides business represents 72% of total revenues, and its growth has flat-lined near zero. Now, this included 2 weeks post-COVID shutdown, so we can assume it may have been able to reach a positive low single digit growth number. Eats grew at a low double digit number, and represents around 19% of total revenue. +> +> EBITDA is not as straightforward, as many adjustments and exclusions are made. What we know with certainty is that the consolidated business produced negative $2.468 billion of EBITDA for the last 12 months. As for segments, UBER shows a positive $2.460 billion of Rides EBITDA, but that excludes more than $4.0 billion of stock-based compensation, and it also excludes more than $2.5 billion of un-allocated corporate overhead. See worksheet below: +> +> +> +> The exclusions are of such a magnitude as to render the supposed $2.46 billion of EBITDA to be nearly meaningless. Could they have generated this without paying out $4.0 billion in stock compensation? Did the $2.5 billion spent on general and administrative, and R&D have any impact on the Rides business? Of course it did. These numbers can no more be excluded than any business can disown its business expenses! +> +> So we have a 11-year old business whose top line growth has settled in around a low single digit number that currently loses $2.5 billion a year in consolidated EBITDA. Should they cut $1.0 billion of costs, that is helpful, but the enterprise would still be losing more than $1.0 billion on an adjusted-EBITDA basis. The Eats business loses money and remains hyper-competitive. It is likely to continue to lose money for the foreseeable future. +> +> So where could UBER's EBITDA number go? This is difficult to say. UBER is hoping to break even on an adjusted-EBITDA basis sometime next year. While I am doubtful that will happen, even it it did, we would have a low growth business in a highly competitive market that at some point in the future could grow that break-even EBITDA into a billion or a few billion of EBITDA. What is that worth? We can look at a range, but unless growth suddenly shoots back into the 20% range or higher, its hard to see a slow growing EBITDA in such a simple business with no barriers to entry commanding a double digit EBITDA valuation multiple. Let's call the midpoint 10x. So 10x 2022E or 2023E EBITDA of $1.0 or $2.0 billion is $10 - $20 billion of enterprise value. And remember, that while UBER can shut down much of its non-core growth/upside assets, it can not simply get rid of its $9BN debt pile, including the recently raised $1.0 billion of junk debt that pays a steep 7.5% coupon. +> +> If we generously ignore the Eats losses, assume net debt in 2 years will be maybe $4 - $6 billion, and the share count remains the same (which is overly conservative), then we are left with the following valuation, which indicates an equity value that ranges from $2 to $11: +> +> $ billions +> Valuation 2022E 2023E +> Adjusted Company EBITDA $1.0 $2.0 +> Multiple Enterprise Value +> 8.0x $8.0 $16.0 +> 9.0x $9.0 $18.0 +> 10.0x $10.0 $20.0 +> 11.0x $11.0 $22.0 +> 12.0x $12.0 $24.0 +> Less: +> Net Debt ($4.0) ($4.0) +> Equity Value +> 8.0x $4.0 $12.0 +> 9.0x $5.0 $14.0 +> 10.0x $6.0 $16.0 +> 11.0x $7.0 $18.0 +> 12.0x $8.0 $20.0 +> Shares Outstanding (billions) 1.734 +> Equity Value per Share +> 8.0x $2.31 $6.92 +> 9.0x $2.88 $8.07 +> 10.0x $3.46 $9.23 +> 11.0x $4.04 $10.38 +> 12.0x $4.61 $11.53 +> (Note, these multiples are very high for a time period that is at least 2 years into the future.) +> +> Conclusion +> +> The market is wrongly ascribing a $59 billion equity valuation for a Company that is collapsing its workforce, reigning in its growth ambitions, and signaling much diminished growth in the future, while it bleeds down cash to the tune of more than $5BN a year. It is faced with a nearly insurmountable $9 Billion junk debt pile. +> +> With this week's announcements of strategy retrenchment and narrowing of its business opportunity, UBER is potentially worth $2.31 to $11.63 per share, compared to its current $34.48 price. +> +> Disclosure: I am/we are short UBER. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. +> +We understand that tempers are rising due to actions that Robinhood and other brokerages have taken to interfere in the market in regards to GME and other high volatility stocks. The subreddit has been seeing a large uptick in low-quality posts and comments over the past few days featuring gain/loss screenshots, calls for boycotts & petitions, and various other things that do not belong on /r/thetagang proper. + +In order to contain some of this, feel free to post in this thread about your grievances and how your thetagang positions have been affected. This is not an open invitation to turn this thread into WSB part deux and we will continue to take appropriate actions against posts and comments that do not belong on this subreddit. Be thoughtful about your actions and continue to make this a great community. + +I will un-sticky this thread on the 5th of February unless its continued existence is still warranted. +I posted on Facebook for my 2 bd 1 bth house in OKC, OK to rent. I do a standard 1 year lease with 1 month deposit and 1 month rent due at signing. + +A friend Llama and her boyfriend Camel contacted me. Myself and Llama were school friends and had always been on good terms. So I was happy to rent to her and her boyfriend. + +Lease is signed, Llama and Camel move in. Everything is great. 6 months in she calls me in tears, her dad died and she can't pay the full rent. I completely understand. Take care of your funeral, pay me what you can, we'll get you sorted out. + +2 months later she calls me again. She's crying again. Her dog died and she can't pay the full rent. Now I'm suspicious. + +The short of the story: Llama and Camel were closet junkies and found my quiet home in a good neighborhood at a good price to get faded in. + +I did not ask for prior landlords info, or check any references past looking at their Faceboook and our long conversation which in hindsight was me believing in people not being terrible when allowed. + +Words were said by both parties. Some I wish I had not said but I was angry. I had to kick Llama and Camel out. Luckily it was easy and I didn't get sued. I sent a certified sign-on-delivery Get Out letter. They were gone in a week. I lost about a full month's of rent and had to clean the heck out of the house by myself. + +They stole my guitar I had hidden in a lockbox in the attic. That's what hurts the most. Money I can make back. That guitar had sentimental value. I bought it when I was a teenager with my first real paycheck. Charvel black with a white pickguard. + +I found out Llama died the other day. Overdose. I'll miss her. She wasn't a bad person, just got herself into a bad situation with drugs. Still, I won't rent to anyone I know unless I check their rental history, their credit, and talk to references, because I need to survive and prosper first if I'm to take care of my community. +Article (paywalled): [Many Jobs May Vanish Forever as Layoffs Mount With over 38 million U.S. unemployment claims in nine weeks, one economist says the situation is “grimmer than we thought."](https://www.nytimes.com/2020/05/21/business/economy/coronavirus-unemployment-claims.html) + +The [PDF of the Borrero, Bloom, and Davis working paper](https://bfi.uchicago.edu/wp-content/uploads/BFI_WP_202059.pdf) + + +I'll try to quote some relevant sections from the NYT article: + +> “I hate to say it, but this is going to take longer and look grimmer than we thought,” Nicholas Bloom, an economist at Stanford University, said of the path to recovery. Mr. Bloom, a co-author of an analysis of the coronavirus epidemic’s effects on the labor market, estimates that 42 percent of recent layoffs will result in permanent job loss. + +> “Firms intend to hire these people back,” Mr. Bloom said, referring to a recent survey of businesses done by the Federal Reserve Bank of Atlanta. “But we know from the past that these aspirations often don’t turn out to be true.” + +>In this case, the economy that comes back is likely to look quite different from the one that closed. If social distancing rules become the new normal, causing thinner crowds in restaurants, theaters and stores, at sports arenas, and on airplanes, then fewer workers will be required. Large companies already expect more of their workers to continue to work remotely and say they plan to reduce their real estate footprint, which will, in turn, reduce the foot traffic that feeds nearby restaurants, shops, nail salons and other businesses. + +Are the bulls here continuing to be bullish if this happens? +Seeing these types of homes already the neighborhood I’m always curious how it’s possible. + +I’ve been fortunate selling a business, but not enough to have one of these monsters. + +If you own one… tell us about it. Did you pay cash? How did you finance it? How does maintenance work? Taxes? Share the details! +Love you brother APE. Thanks for all you have done for this community this year. YOU are a solid dude who doesn't seem to have a bad bone in your body. I hope you take time to reconsider your retirement from The daily synopsis. We are in the closing phase of our great journey. WE need you and all other Silver backs to help Sheppard us to the promise land. The shills smelled blood in the water and were out in droves to begin with. I felt that your commentary provided great value. Sober thoughts contrary to one's point of view are necessary to formulate productive discussions and critical thinking. +If this is the end of the line, Thank you brother. + +Also I feel like apes are feeling a void in they're hearts with the end of DFV' Tweets and are mourning by lashing out. Hearing something you don't agree with from someone you respect , while all these emotions are running rampant whether excitement/angst/anticipation/fear etc can be viewed as angry but it is usually a manifestation of feeling hurt. +Try not take it personally brother. GODSPEED u/rensole + + +🦍❤🦍 +🚀🚀🚀🚀🚀🚀🚀🚀🚀 +Does anyone know if it’s illegal for random people to turn up before settlement but after contracts have been signed for a sold house? + +My parents recently sold the house but I think it was a property developer who bought the house because people keep turning up to test the soil and take pictures. They were let in the first time to the backyard but now my parents have said no and contacted the real estate agent to tell the buyer. Then more people came - one guy came up to the property and took a photo inside the house from the window while my parents were still in it. + +Just wanted to know if this is illegal and if so what legal recourse can we take? This is in NSW. +I contacted TW to see if they'd match my negotiated rate for TDA. Here's what the chat response was: + +>Hello and welcome to tastyworks. we cannot match their rate (did not know that they have a capped commission schedule). I know that they have been down for the last 2 days (off and on) so I guess the better question would be do the rates matter if you cannot access your account? +One of the main reasons why stocks fail to reflect the economic conditions experienced by most of us is the increase in stock buybacks. Companies often push up stocks in partial and arguable ways to increase the value of their management stock options by buying shares on the open market. + +The 2018 tax cuts initiated by Trump led to inflows of company cash, which is usually used to buy back shares. Therefore, there is no connection with the economy, but cash is swaying in the company's warehouse. + +The market is often seen as a rational indicator of the current and future economy. President Trump often brags about his success as a proof of economic strength. But this idea that the market is an indicator of the future and is closely linked to the real economy is a myth in most cases. The market is usually very irrational, otherwise we would not collapse. + +The market needs a stimulus plan. The current COVID-19 uncertainty and stimulus measures, and because high-tech companies are very likely to have false hopes, stock prices are soaring. The stock market is often completely wrong. This is based on the economic conditions of the pandemic, so there is a historical, huge new layer of uncertainty. +Basically what the title says. Yesterday Musk tweeted that ‘passive investing has gone too far’. I’m still learning a lot, and there are a lot of smart minds on this sub, curious what the general consensus is on Musk’s tweet? + I have read about it in a lot of places and saw it in many TV shows and movies. People will buy a painting for millions of dollars. Now, it is much easier for them to move the painting than such a large amount of cash. But the painting is still worthless if no one else agrees to pay that much for it. +Hi + +My parents want to add me to the mortgage for our family home as interest rates are going up and want me to also get a foot into the property ladder + +I am 29 and well this is admittedly has come as a bit of a shock to me! + +Anyways, what should I be prepared for in terms of expecting questions etc? + +I invested quite a lot in the stock market, no one not even my parents know and I fear I am royally screwed +* Wutang clan day Nov 9 -- Tuesday. +* Loopring smart wallet made & Loopring layer 2 ready +* Fed board of governors releases statement of Gamestop as systemic risk (is this why Fed Reserve Governor Randal Quarles resigned today?) +* Msm trying to control the narrative that GameStop is a systemic risk because of retail +* Blames apes for reading due diligence online then making their own individual decision to buy a stock they like and holding +* Here they blame DFV for sharing his DD, "communicating most frequently with others with similar interests and views, thereby enforcing their views, even if these views are speculative or biased" +* Msm & Feds basically confirms all the DD (ETF shorted, synthetic etfs and swaps pose risk to mass mutual funds, banks raising bonds to pay debts but are junk) +* Blame social media often referring to Twitter as pumps but never mentioning Reddit (heaven forbid they learn about the vast treasure trove Gamestop due diligence library: [https://fliphtml5.com/bookcase/kosyg](https://fliphtml5.com/bookcase/kosyg) +* Blame apes as highly speculative and place bets on "options" which pose a systemic risk that can LEVERAGE and MAGNIFY shf losses but are enabled by market makers like Citadel and run by CEO Ken Griffin who lied to Congress under oath but walk freely without repercussions +* Blame apes for buying shares, buying calls and that these 2 things can "amplify losses in a down turn" aka skyrocketing share prices because no more shares to short (ty for DRSing) and data points to a gamma squeeze (u rock gamma girl) +* The gme daily chart cycle is highly ramped up and macd weekly looks great for bullish trend - FIRST time it turned green in weeks, last time it was green BULLISH upside! Check the chart. +* Msm warning of "cyberattacks" but its all good, can chill with oppa +* Now, this is the part in the movie were Vinny Daniel says, "we're not the bad guys here. We didn't defraud the American people and prey on their dreams. They did." + +# 🟣🟣🟣 DONT STOP, CANT STOP, WONT STOP THE DRS FOR GAMESTOP 🟣🟣🟣 + +🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣🟣 🚀 + +Edit: + +# HOLY FUCK THEY PUMPING BTC ALL TIME HIGH AND ETHEREUM ATH --- THE SIMULATION IS BREAKING + +Did someone get margin called today?? Smaller family office? Domino!!! + +Remember the 5th of November? FTDs of T+2 cuz deep ITM calls 🚀🚀 + +Correction, thanks to u/Allmightydohllah: It was the FEDs that released a statement on systemic risk: [https://www.federalreserve.gov/publications/financial-stability-report.htm](https://www.federalreserve.gov/publications/financial-stability-report.htm) + +Edit 2: are we about to get the C.R.E.A.M? u/scooterbike1968: + +Enter the Wu Tang (36 Chambers) was released on Nov 9, 1993. Method Man said in 2013 they wanted to drop what was thought to be A Better Tomorrow, but the Wu Tang backstory around this time and the fact that they were working on Once Upon a Time in Shaolin makes it plausible that this was the album Meth had in mind. Speculative but on this wild ride it fits beautifully. Wu Tang forever. The saga continues…Tomorrow. Or some other day to come. + +# Edit 3: RC just tweeted, "Deciding between two options for my GME shares: HOLD or HODL…" -- sounds BULLISH! + +*cue drums* + +I can feel it in the air tonight + +hodl on hodl on + +# Edit 4: this is the dip before the rip. Jan apes know 💎🙌 RC called it, hold or hodl +Not sure how this sub feels about linking to WSB but I just wrote a mini novella on my gains this year from $35k to $1.75M (50X) trading stocks including detailed history, theses, strategy/philosophy, and my fatFIRE goals + +Thought folks here might be interested in how a high risk/high reward year turned out and the thinking behind each move, would love to hear feedback + +https://www.reddit.com/r/wallstreetbets/comments/kjyzh7/a_sir_jack_a_lot_christmas_carol_my_magnum_dong +Someone explain to me why I don’t just go with a 50% mix of SCHD and DGRO for my dividend growth account. I see so many people doing an elaborate mix of stocks. Div yield would be about 2.88% for this portfolio, easy to manage, well diversified, low beta and likely have good growth over the next 10-20 years. I’m honestly asking because I don’t know. Not saying this is superior or anything. Thanks! +Currently 18, I was always interested in stocks and the number one thing I've heard across all these subreddits/youtube/tik tok/ boards is to "Buy VOO/blue chips and then wait. Just wait decades and you'll see the results". + +And I wholeheartedly believe and understand that. I have like $900 in VOO alone and like $500 split among some big tech companies (NVDA/AAPL/GOOG/MSFT). It's not much but I figure I would start now. + +But what happens after I've waited, and kept putting money into my portfolio? Like when I'm 40 and I see what my patience has given me, what do I do then? Do I sell it all? Some of it? + + When do I actually get to use this accumulated money? And what should I use it for? +I know many people, especially in my age bracket (19-22), look forward to tax season for this reason. Some even plan for large purchases once the check arrives. Why is getting your money "back" something to be excited about? Isn't giving paying too much in taxes a bad thing? + +Edit: I appreciate all the responses. Will read through them later. +I am. + +I feel like such a f-up. + +Just found out two of my kids might be getting married soon and I have nothing to give, financially, to the impending festivities. + +I didn't want my life to turn out this way. I am educated - I haz degrees - but degrees don't inspire anyone to hire me. + +In MY area I've even read of computer science majors looking for jobs for months. + +When you're the poorest one in the family, it brings a lot of shame. + + +On many subs any mention of buying investment properties or becoming a landlord is met with down votes and pure negativity. How do you deal with it? I had no idea that so many people saw it as an evil thing until I experienced this. + +Edit: I realize that Reddit opinions aren’t everything and I can just not care. It does make me wonder whether it is a widely held opinion and I’m going to be judged by friends and family if I share though. +As indicated in the title, I own a large commercial building in a desirable "*Heart of downtown*" location and would like to connect w/ Gamestop and donate my entire second floor area for "Experimental NFT usage". Basically, Beta NFT concepts, in a real world setting. + + + +We all know NFTs are faaar more than Monkey JPEGs. We also know that blockchain, NFTS, & Brick&Mortar are beginning to intertwine. Digital and Real World are becoming blurred together. We are still in it's infancy as to what is possible... + + +**...And I want this space to be the GUINEA APE to any Real Life NFT ideas Gamestop may want to beta test. Let's Get Weird.** + +***Potential Ideas:*** + +NFT Barcade + +Interactive Art Gallery + +...Or whatever weird/new/beta concepts Gamestop would like to try. + + + +**About the Space:** + + + +[Layout Diagram](https://i.imgur.com/JTtlgIA.jpg) + +* The space is approx 5,500 SQFT. It's quite literally a blank canvas. Open concept. +* It's located on a second floor. Has multiple entry/exit points and ADA elevator access. +* Located in the Heart of Downtown on "Main" Street. Heavy Foot traffic. +* Minnesota Location. A college town (3 colleges). +* Building has multiple other retail stores including a high-end bar/pizzeria, gym, and other retails stores. +* GameStop would have the entirety of the second floor to themselves! + + +Not sure who to contact in regards to Gamestop, but if anyone has any further info/connections, should shoot me a PM. Also, any Architects, Interior designers, or RE Lawyers... that could help in anyway in regards to brining this to fruition, would be amazing. + + +*HODL. +DRS. +FUK YOU KENNY, PAY ME.* + + +EDIT: +https://twitter.com/gold_flake222/status/1541641240831213570?s=21&t=VqnYtsbG8NCJOI4N7oJ9Tw + +You guys know what to do 👆 +Hold for yourself, hold for your family but remember the single digit apes and small quantity holders. Do it for every one of them. No ape left behind. + +Holding 42, hopefully 45 after this week. Generational transformations for all. + +EDIT: Holy wow! This blew up, thank you all for the awards and great commentary! So pumped to be a part of this community. Holding like I’ve only got one share, for each and every one of you. Let’s change the world 💎🙌🏻 +After months of cryptic twitter posts and near silence, it would be great to hear Ryan Cohen's thoughts on how he plans to move the company forward as chairman. + +This would also enable the 300 million shareholders to all attend the meeting without having to be physically present! We know Berkshire streamed theirs and to be honest, those are ROOKIE NUMBERS. + +Ryan, we know you lurk here. Give us all the opportunity to attend a meeting we wish we were at! +Alright cucks, today we are gonna talk about DW8. Get your wife’s boyfriend in the room cause you’re gonna need to borrow his wallet for this one. + +I’ve seen a lot of misguided sentiment towards this company from you lot, mostly because people don’t understand the industry they provide too and how to interpret their successes so far. So grab yourself a greg or glass of vino cause you are in for a long thorough read. + +For the record, I am not a Financial advisor and you shouldn’t buy this stock cause someone with too much time on his hands makes a post about it on the internet. ASIC don’t fuck me in the shower. DYOR + +SO, let me start with a rundown of what exactly this company is and what they plan to do. + +**The Business** + +Digital Wine Ventures (DW8) states “we invest in technology-driven businesses servicing the global wine and beverage industry.” + +The global wine market is worth $300 Billion and growing. + +In April 2019, Australian wine entrepreneur Dean Taylor vended his sweetest new startup company, Winedepot, to DW8 and became the substantial shareholder and CEO. Winedepot is now the cornerstone investment of Digital Wine Ventures + +A brief lil background on ol mate Deano, cause it’s important. + +Deano has been in the online wine/beverage industry since 1999 during which he has founded, managed 7 different wine/online related businesses. He sold his first company, Wine Ark, to ASX:NSR for $8.5 million. He also launched the Cellar Club. The Cellar Club was then sold to Cellarmasters and later acquired by Woolworths as part of a $340 million transaction. + +He also launched My Wine Guy. A business that continues to grow at over 100 percent per annum. Just to name a few. + +IN SUMMARY, bloke knows his shit when it comes to operating online businesses and has deep connections in the Australian wine industry. + +SO ANYWAY, what is DW8’s golden child “WINEDEPOT”? + +Winedepot is a cloud-based service platform designed to streamline wine distribution. (and is now also being used for other beverages like beer/cider/spirits) + +The platform provides five key solutions relating to sales, logistics and payment and it generates revenue via transaction fees, storage fees, subscription fees etc. + +They describe their point of difference as servicing producers for a fraction of the usual cost. + +The next major step for Winedepot now, is launching their ‘Direct-To-Trade’ marketplace. + +“For the first time ever, trade buyers will be able to purchase by the bottle from hundreds of wine and beverage producers all via one order, one invoice, one payment and one delivery.” + +They claim this will allow them to provide substantially more brands and products than the largest three distributors in the country combined. + +This is due to launch in march 2021 (next month!) + +DW8 intends to solidify Winedepots presence in Australasia before expanding into other key markets for aussie vinos like the UK, North America, EU, Hong Kong and Singapore. + +In September last year they established their presence in New Zealand and have been steadily building over there too. Some of the figures they tote show just why this service is so attractive to wineries. “Currently it costs at least AU$90 to ship a dozen bottles of wine between New Zealand and Australia. Using our platform, the shipping will be about AU$7.95 per case” - Deano + +If that isn’t impressive, I don’t know what is. + +**The Financials** + +Now onto the sweaty financials, which admittedly is my weak point in understanding and I will happily be corrected if I make any incorrect assumptions below. + +Market Cap - 72M + +Current sp - 0.044 (as today's announcement it’s probably going to break 0.05) + +For the quarter ending Dec 31st 2020, they stated a revenue of 712k for the quarter, up 78% on the last quarter. This is also only accounting for 1 month worth of sales from their newly acquired logistics provider WDA, which welcomed 180 wineries to the company last November. Though revenue has been increasing strongly, it is expected to have a massive uplift with the launch of the marketplace in March. + +They have 700k debt. + +Until the company becomes cash/flow positive, as of december 31 2020, the company had $6.8 million left of funding available, representing five quarters left of use if spending levels remain the same. + +They also expect a significant proportion of the remaining 100M+ unlisted options to be converted before 23 February 2021, when they expire. In the last quarter the conversion of 45M options raised $1.35M. + +IN SUMMARY, the company is growing incredibly fast with great organic growth and the release of their marketplace in March is poised to be a real chilli in the ass type booster for their sales. + +**Extra Reading** + +I also want to touch on a few points I’ve seen people throw around in this sub who clearly don’t understand some of the recent news affecting this company + +* The China Tariffs + +I’ve seen people claim with the introduction of trade tariffs from China (a normally 1.2B revenue export for Aussie wineries) that DW8’s growth would be hampered, when in reality it's a positive. Let me explain. DW8 moved sharply by closing its Chinese subsidiary and instead re-focused its expansion efforts on other international markets. The tariffs now imposed by Winnie the Pooh will triple the price of some Australian wines, which will have a significant impact on their competitiveness in the Chinese Market. As a result, there’s going to be millions of litres of wine that will need to be sold in other markets. This will be extremely beneficial for Winedepot as the affected producers look for new routes to market. Along with the rapid switch to online buying due to COVID-19, this oversupply of inventory provides the perfect storm to launch their Direct-to-Trade marketplace. (March remember!) + +* The Post Christmas lull + +For some background in alcohol sales, December is the busiest month of the year with a steep drop off in sales following, January being the quietest. It is a cycle that affects everyone in the industry and the dip in sales is in no way isolated to DW8. + +In the latest company update for January, DW8 reported a 747% MoM increase in wine cases shipped vs last year. This set January 2021 (the quietest sales period for this year) up as the 2nd most successful month in the history of the company. This left DW8 feeling like the old Z1P, in that a positive market announcement somehow resulted in a falling sp. I believe this dip happened for 2 reasons. Firstly, people misinterpreted the fall in sales as poor growth. Secondly, people are cashing out now to take profits during the lower sales period, and will enter again later at a lower price point before the sales begin to spike up. Likely prior to the release of the new marketplace. + +Just before posting this, DW8 released an announcement stating they have successfully partnered with Vivino, the world’s largest mobile wine app and online wine marketplace. + +**Today's Announcement** + +Vivino had $265M USD wine sales flow through their system last year with 50M+ users. They also operate in 17 countries.This is MASSIVE. It was outlined as one of the major focuses for the new marketplace during their AGM meeting last october. They also intend to partner with Ebay and Amazon in the near future, if they pull that off, hello moon! + +There’s a lot of cake out of there and DW8 wants a slice. + +🚀 ***TL;DR*** 🚀 + +This is a fast growing company with proven management, at a currently undervalued sp, set to moon in March and never come down. Get in while you can so you can finally buy a lambo or feed your kids for once. + +🚀 + +If it matters, I hold 36,038 units at 0.055.Was hoping to get another parcel of $1k this morning at 0.44 but that announcement popped. Will likely still dip in again anyway, any price right now is undervalued from what they will be. Only up from here in the long run. +I've done it. The last £500 of debt I had to pay off. I just want to share this immense emotion I have to someone. I am 31yrs old and have no savings, but I also now have no debt. + +My entire working life, every time I get paid I felt like a f*cking failure, because everything that went to my bank account went straight out. + +Throughout my life I have been living in debt. I grew up in a poor country, my father was the sole breadwinner and my mum a housewife, and we were 4 children they had to feed. I saw how humiliated my mum was every time she had to borrow from my relatives to keep us alive. I saw how my dad kept silent through it all and kept working hard, but I knew how he was disappointed in himself. They piled on credit card debt to the point they could only pay off interest every month, and as a teen I didn't understand how they could be paying so much and the total balance stayed the same for years and years. Both of my parents got scammed as well (details they didn't share with me) and they had to take personal loans for that as well. I finished my university under a scholarship and immigrated here in the UK at 24yrs old to have a better shot at life. I was earning much more, and I promised my parents I will pay off their debt and support them. For my first 5 yrs, all the savings I had left went straight to their debt. I did not know how to manage money so I also had to learn how to avoid the tempation of spending money on so many things I never experienced having when I was younger. I made a lot of mistakes as well, but 2 yrs ago I was nearly done paying off our debt. + +But then my father had a heart attack and needed an emergency heart bypass surgery. His medical bills cost around £8k. You have no clue how miserable I was, especially since I work in the NHS and I would have patients come in with a freaking heart transplant and not having to pay a single dime, the same day I had to send hundreds of pounds to pay for a night in ICU where my father was. I was back to debt. I worked and exhausted myself taking extra shifts. One night a week for the past 2 years, I would cry my heart out because the world was so unfair and I was just so exhausted. I was supporting almost all their finances while trying to keep myself alive here on my own. + +Tonight I will probably cry too, but it will be tears of joy. I have paid my last £500 and for the first time since being an adult, there is no more debt to my name. My family is debt-free. We can all finally take a deep breath and begin again. + +I have today listed all my financial goals, starting with an emergency fund. Ain’t the best to be 31 and still on the emergency fund stage, but I don’t care. I am so excited to start my real financial journey. I've been reading and learning a lot from this sub, so thank you all for the knowledge you share. I feel ready for the future and any more advice is entirely welcome. Thank you + +TLDR: my entire life I have been living in debt, I finally paid off every f*cking thing and now I can start my real journey. +I wanted to make a quick guide into the process of alpha research which I hope can be useful to newer traders trying to build and algorithmic trading strategy. I used BTC and ETH data sourced from Binance and left out some assumptions like transaction costs, slippage etc which would have an effect on real world performance but would be too much to cover in one post. + +First, lets look at BTC and ETH returns over time, one big thing of note here is while the returns are seemingly random a clear pattern exists between the two assets and they tend to move in the same direction over time. This is also confirmed by the returns scatter showing a relationship between the two as well. + + + +https://preview.redd.it/a3zf5vji20o51.jpg?width=2489&format=pjpg&auto=webp&s=19deb3ba0531832cda45a67ede408e9ab83768a0 + +So one might notice this strategy and decide that trading the ratio between the two price series might be beneficial and they be mean reverting. So when we can look at the ratio over time, again there's no clear pattern or between the two and its seemingly random. Even with the benefit of hindsight we can see that the ratio doesn't seem to revert to its long term average. Trading this would likely not result in much profitability. + +&#x200B; + +https://preview.redd.it/a0eqos8zwzn51.jpg?width=2490&format=pjpg&auto=webp&s=d0be6f21b82d41f2503b3898c4d67929eaf90d62 + +What we can do however is use a normalisation technique to normalise the ratio over time and see what that looks like. (I attached some common methods there for inspiration). Now if this doesn't excite you you might be in the wrong field, we can see our data behaving lovely around a mean of zero with a rang of -3 to 3. This is something we can use to trade. + +&#x200B; + +https://preview.redd.it/7id6849hxzn51.jpg?width=2764&format=pjpg&auto=webp&s=db339b53bdadc549c210b31b9f3ea198bf9f2be0 + +To transform this into buy and sell signals is pretty simple, we set our sell threshold at +2 as from the data it's clear that over time it will revert back and similarly we set our buy threshold to -2. and when we want to enter a long trade we will be buying an equally weighted portfolio of long BTC and short ETH and a short trade would consist of short BTC and long ETH. + +&#x200B; + +https://preview.redd.it/f110bhydyzn51.jpg?width=2767&format=pjpg&auto=webp&s=1add25afa3da304463a54d32fc8bb42a72f28837 + +If we set our position to a binary +1 for long and -1 for short here what our position will look like over time. + + + +https://preview.redd.it/bmwckggmyzn51.jpg?width=2782&format=pjpg&auto=webp&s=c6ca8c1bf98604a6e7198b9c59be1af230cdfd26 + +Finally what everyone wants to see, returns over time. This strategy performs remarkably well over time and across multiple time frames and asset classes and I encourage people to look into things like 'pairs trading', 'stat arb', 'mean reversion' and 'relative value trading' as they are a very strong and reliable form of alpha when done right. Over the sample period of \~4years the strategy made steady and consistent returns amounting to just over +350% with a sharpe ratio of 2.003. + + + +https://preview.redd.it/ta8p43a3zzn51.jpg?width=2766&format=pjpg&auto=webp&s=be9ceb6ebde6222deab733f8e7dd20e4dfeafa10 + +There are plenty adaptation and optimisations to be made that can further improve results, namely: how you normalise your data, buy-sell threshold value, adding buy-sell threshold bands, time frame you trade in, adding additional stop losses to avoid big drawdowns. This post is probably getting a little long so I'll leave it there. Thanks for reading. +I'm sure most people on here know not to blindly believe every investment article they see online, but I just found what I thought was funny proof of this. These 2 articles from [fool.co.uk](https://fool.co.uk) 1 day apart: + +[https://www.fool.co.uk/investing/2021/04/10/3-reasons-id-buy-the-deliveroo-share-today/](https://www.fool.co.uk/investing/2021/04/10/3-reasons-id-buy-the-deliveroo-share-today/) + +[https://www.fool.co.uk/investing/2021/04/11/deliveroo-share-price-why-im-not-buying-yet/](https://www.fool.co.uk/investing/2021/04/11/deliveroo-share-price-why-im-not-buying-yet/) +This new friend mentioned that she would like to "pay it forward" by inviting my husband and I into this "great opportunity". +My question is, has anyone heard about this? + +She has been extremely vague about the whole situation. She did briefly mentioned that what they do is similar to an MLM but they aren't a MLM. Red flag. I know. She also was very adamant that she and her husband would have to meet with us several times to get to know us and to make sure we would be a good time investment for them and the "power couple." She kept saying that they are slowing achieving that lifestyle of having a cashflow and not having to worry about money and how they are able to spend more time with their kids and travel and most importantly sharing this great opportunity. + +I really with I could tell you guys more but that's all I know. My husband is skeptical from the get go and I don't blame him. He is currently out only source of income while I'm a stay at home mom and currently 4 months pregnant. My main concern is finding what this woman is trying to get us into and if its something bad money wise I would like to know more about it in case I run into someone like her again. + +UPDATE: + +I texted her this morning telling her that my husband and I were not interested and that our retirement plans are fine and doing well on their own and we do not need anymore investments or want anything she was offering. I asked her not to message me anymore. She hasn't even replied about her book lol so into the donation bin it goes. I did read it and the book alone is a good read but I don't have any use for it. + +I just want to say thank you for all the advice and for helping me uncover her scam. I hate being preyed upon but I will never jeopardize my family's financial well being especially not while were under one income. + +I'm still reading all of the comments coming in and looking up all the financial advice you guys are mentioning. Once again, thank you for helping me out. +Many years ago when petrol was like 80c/litre and the average salary was much lower, 100k/year felt like the somewhat universal number treated with awe and acclaim... to me anyway, as I have been and likely always will be an average income earner. + +100k was always my mental yardstick for being quite well off, but as average salaries have grown and cost of living soared, it’s clear 100k is not as special anymore. + +My mental yardstick needs to be updated…What’s the new 100k? +Lots of people in this sub are in the $1 million - $3 million USD range; but still don't feel rich at all because they live in Silicon Valley or New York City. Well, you're still in the top 1% of adults worldwide and can literally move to any country in the world; or even lower cost of living areas of America to "feel" rich. $1.5 million is $60,000 at 4% SWR and literally allows you to live anywhere on the planet if you are a single childless man/woman (except maybe in Monaco). Millionaires are actually quite rare outside of North America. FIRE is truly a luxury that 99% of people in the world do not get to experience. +For everything related to the hearings on 2/18 + +Noon EST. I’m sure it’ll be on CSPAN and probably streamed by the house financial services committee site. +Since 22 (currently 30), all I’ve ever wanted to do was FIRE by age 35 with 1M in liquid net worth. Always envisioned moving to some tropical paradise like Bali. At 30, currently have a liquid net worth of 521K and was on the way to hit 1M by 35. + +However, life threw me a curveball recently. The health of my parents rapidly declined and they are no longer able to support themselves financially completely without completely plundering their retirement accounts (which is already very modest). They never explicitly asked for help, but that’s because they never would. + +I recently moved back to my parent’s home at 30 to help them financially and took over the mortgage payments to start. My parents have 208K left on the mortgage - $2700 monthly payments and the loan is for 21 more years. Add in the rest of living expenses and my monthly take home pay is all but gone. + +There are two conflicting sides to me - brain and heart. One side that’s more logical says $2700/month invested at an average return of 7% over 21 years is 1.5M. The other side that’s more emotional says it’s your own mother and father...they sacrificed everything as first generation immigrants to provide you an opportunity at the American dream. For pretty much all of my big life decisions, the brain has won in the past. For this big life decision, the choice is easy. + +What is the purpose of money if you don’t use it to take care of or improve the lives of those you love? + +I don’t know why I feel compelled to share this here (probably because I have no one to talk to this about), but all I can say is life happens when you’re busy making other plans. And hug your parents and tell them you love them because they are only getting older. +I have a student debt of $170,000 through government, and I'm currently making 65k a year. I started investing in stocks in March 2020. I have been fortunate enough to make high gain (+115% return so far) and I have just enough to pay off my student loan (\~$195,000 worth of TSLA, SBE and PLTR). I was wondering if I should sell off some (if not all) of my stocks to pay off part (if not all) of my student loan. I also know that I would get my tax deduction if I hold on to stocks for more than a year. Should I wait for that period? + + +Thank you +So around yesterday afternoon my friend wanted to jump on MetaMask since he was going to convert some shit coins that he threw some money into, a few months back, and convert them into stablecoin. + +To give you some context, he's got a degree in computer science and is well versed in cyber security. He's been into cryptocurrency for a solid 3-4 years now and has made a fortune out of some good projects. + +Overall, he knows all the generic scams such as the 'copy-paste' scam (where your computer has a virus and this virus changes your address to the scammers address when transferring funds), the gas-fee scam, and a multitude of others. + +Idk if it was a lapse of judgement, or just error on his part, but he said he accidently clicked on a Google ad for MetaMask wallet, which forwarded him onto a site with a near *exact* replica of the official website. + +It was phishing website that copied the brand and messaging of the original wallet website, to near *perfection*. + +Luckily, this was only one of many wallets that he had and the scammers ran away with 38ETH & the remaining amount of shit coins left. + +In total, he lost perhaps \~$190,000 USD, including the shit coins. + +To make matters worse, MetaMask took far too long to help him and to offer him support and the scammers successfully made way with the funds. + +Please stay vigilant. Don't get complacent. Part of the responsibility we have with cryptocurrency is to **self-manage**. If this is to replace the current banking system, we need to understand how important it is to uphold security of our wallets and our private keys. + +TL: DR; + +Do not click on **ANY** Google ad search suggestions under **ANY** circumstance. +https://www.realclearmarkets.com/articles/2020/08/21/a_financial_transactions_tax_would_be_a_huge_blow_to_little_guy_574870.amp.html + +Bidens running mate Kamela has been vying for a .002 tax on buying and selling shares + + +Under the proposal, if you buy 1000$ worth of stocks, buying would cost 2$, selling would cost 2$ + + + +This would be armageddon to HFT..who look to make literally a penny per trade. Any strategy that looks to make quick profits would suffer. + + +Dont HFT have politicians in the back pocket to prevent this bill from passing? 😉 +El País, Spain's biggest newspaper, just published an [in-depth analysis of the rental situation in Spain](https://elpais.com/economia/2021-10-10/alquilar-con-el-salario-minimo-mision-imposible.html), dubbing it "impossible if you are earning the minimum wage". In 17 Spanish capitals there is no property available for a third of the minimum wage (the percentage that is normally mentioned as a rule of thumb when discussing how much to spend on rent), and only 5 cities have more than 10 affordable listings. + +I'm curious to know: is this shocking with respect to the experience in your country, or also normal there? What's the situation like? +https://theweek.com/speedreads/861627/warren-buffett-hasnt-stockpiled-much-cash-since-right-before-financial-crisis + +> Uh oh. + +> Warren Buffett, known for being one of the world's most prescient investors, has kept quiet on whether U.S. equities are too expensive at a time when the global economy is slowing, Bloomberg reports. But he's reportedly hoarding a record $122 billion in cash at Berkshire Hathaway Inc., leading to some speculation that he sees a recession on the horizon, or at least is sending some sort of warning. The cash pile is more than half the value of Berkshire's $208 billion portfolio of public companies, and the only time that percentage has reportedly been higher since 1987 was in the years leading up to the 2008 financial crisis. +I've been making lists of what people are expecting to rocket, so here are the biggest players ive taken note of for tomorrow + +DXB: Announcement maybe tomorrow, or in the next few days. Most likely going to be very good + +CRO: No debt, probably lots of room left to grow. Positive business announcement. New BNPL product + +TNT: Cybersecurity had a large drop, but TNT held its ground. Its had large revenue increase (291%) from the report release + +BRN: Rumoured to have testing day tomorrow which could result in massive uptrend + +CXZ: Large deals with big motor companies, credit to [u/murphystruelaw](https://www.reddit.com/user/murphystruelaw/) EDIT: CXZ not likely to rocket tomorrow, but has great outlook for the future + +&#x200B; + +&#x200B; + +Let me know if you guys find a quick sum up like this useful or not + +EDIT: Positive feedback so far. I will look into doing more - hopefully I will get better at writing them + +&#x200B; + +Extra: ROO. Has a massive day today, so Im interested to see what happens tomorrow +https://www.scmp.com/economy/china-economy/article/3078251/coronavirus-chinas-unemployment-crisis-mounts-nobody-knows?utm_source=Pico&utm_campaign=26a6ebb205-EMAIL_CAMPAIGN_2020_04_03_10_44&utm_medium=email&utm_term=0_aa6d5ab160-26a6ebb205-165461233 + +Some of the paragraphs from the article: + +> In the United States, data on the number of Americans filing their first claim for unemployment benefits each week offers a relatively up-to-date reading of the national jobless situation. But in China, jobless indicators are released on a monthly or even quarterly basis, and cover only part of the workforce. + +> The most widely cited figure, the surveyed urban unemployment rate issued by the National Bureau of Statistics (NBS), jumped to an all-time high +of 6.2 per cent in January and February combined, up from 5.2 per cent in December. This roughly equated to an additional 5 million people thrown out of work. + +> Another government metric, the urban registered jobless rate, is published quarterly and measures only the urban residents willing to file tedious reams of paperwork to register as being unemployed. This indicator has been stable at a rate of around 4 per cent for years, with few fluctuations over economic cycles. + +> Due to the lack of official data covering China’s entire workforce, economists and analysts have started to rely on private surveys, online job listings, anecdotal reports and even indicators such as subway rides in major cities to get a clearer view of the impact of the coronavirus outbreak on the unemployment situation in China. + +> Beijing’s challenge +is particularly severe given the lack of an adequate social safety net in China. + +> Unemployment benefits are small and reserved for only a few – a maximum of 2.5 million people claimed unemployment benefits in each quarter over the past decade, in a country of almost 1.4 billion. + +> “Rural migrant workers who lost their paid work are generally not included in government data,” Lu said. “Many of them may find it hard to maintain their previous living standards. Many migrant workers will have to go back to their farmland to support a basic lifestyle.” + +TL;DR: China is under reporting unemployment data and unemployed people don't really have a social safety net. +Living downtown sucks. Living in the suburbs also sucks. The houses are frankly too close together. + +Who here is living far outside the city that it's completely private? No neighbors for miles. +Would the average wealth increase, as there would be less people to distribute things to? Putting it in an other way, would decreasing the population actually help us? +Some people say that around the 2030’s China’s economy (GDP nominal) will surpass the US’s economy and take the number 1 spot. Realistically do you think this will happen? +As a shameless cloner, I've been interested in creating an investment checklist, because Mohnish Pabrai and Guy Spier similarly use checklists for their own investments. I believe that an investment checklist would be an advantage, assisting in reducing bias in analyzing investments and treating future potential investments with the same rigor and objectivity. + +Of course, no company will sift through all the filters in this (or another) checklist, but it nevertheless provides an overview of the shortages and weaknesses of a firm. Furthermore, I see my checklist as a "living document", as I will continue to revise, remove, and add items on it. I would therefore appreciate any feedback on the items of the list. + +I hope you can use this post as an inspiration to your own investment checklist. + +# Checklist + +**General** + +* Could I easily understand this business/industry? +* What respected, professional investors are currently invested in this company? +* What type of investment is this? + +**Industry** + +* Does the business operate in a no-growth industry? +* Does the business operate in a boring industry? +* Does the industry have large barriers to entry? +* Who are the company’s top competitors and how do they stand in the industry? +* Does the company operate in a niche? +* Does the company have reasonable, simple strategies for growth in the future? +* Why do businesses fail in this industry? +* What key risks do businesses in this industry take? +* Is this industry currently distressed? +* Which KPIs do the industry follow? + +**Business** + +* Is the business simple and predictable? +* Is the business model sustainable? +* Does the company provide a win-win for its entire value chain? +* What are the critical parts of the operation of this business? +* Are temporary tailwinds driving this company’s success? +* Is the company currently distressed? +* Is the debt situation under control? +* Can the company easily cover its interest payments? +* Are the company’s ROE and ROIC high and not shrinking? +* Does the business produce actual cash and not just accounting profits? +* Has the business proven that it can raise prices as its costs rise? +* Can the CEO put his feet on the desk and do nothing while the business continues to do well? +* Does the company have customers that represent a large portion of its revenues? +* How large could the business/industry potentially be? +* If the stock market is closed for ten years, would I be comfortable holding this company? + +**Competitive advantage** + +* Does the company have a competitive advantage? +* Is the competitive advantage durable and not shrinking? +* Is the competitive advantage intrinsic and difficult to copy? +* Do the customers love/need the company? +* Do the suppliers love/need the company? +* Which difficulties will the customers have if the business disappears? +* Do the products/services that have a competitive advantage comprise a large portion of the company’s operations? +* Is it hard or expensive for someone to start to compete with the company? +* Will the company have to start to compete with China or another lower-cost country? +* Will the company have to start to compete with Amazon? +* How well did the company perform in the last recession? +* Can competitors dictate the price of this company’s products or services? +* Does the business heavily rely on extrinsic risk (e.g., the price of a commodity or the credit markets) that is out of its control? + +**Management** + +* Does the business return capital to its shareholders? +* Is the CEO experienced in this business and does he have a great operational track record? +* Does this company make up a significant portion of the CEOs net worth? +* Is the management’s compensation reasonable and based on the long-term success of the business? +* Does the company have a vision that guides the company forward and changes the world for the better? +* Does the management seem driven to achieve the vision of the company? +* Does the CEO seem trustworthy, and does he explain the difficulties that the company is facing? +* Do I trust this CEO to behave with integrity? +* Have insiders been buying or selling at similar prices? + +**Price** + +* Are temporarily high numbers causing this investment to be attractive? +* Why will this company be worth more in the future than what Mr. Market is offering it for today? Will the PE-ratio extend or will earnings rise? +* Why is Mr. Market offering me this great deal? +* Does the price make sense and provide a margin of safety? +* Would a child understand this investment decision? +* Would I be comfortable if all of my family’s net worth was in this one business? + +**Miscellaneous** + +* How is the union situation? +* How is the pension situation? +Preaching to the choir, but the sale of Yahoo and AOL media to Apollo for $4.4 Billion is great lesson on not just why valuation matters, but why Rule#1 of investing is don't lose money. + +Yahoo's market cap at one time approached $120 billion dollars. AOL at peak had a $200 billion market cap. + +Yahoo was the market leader in internet search traffic, it had the top talent and was the premier online destination, and had a who's who of fortune 500 clients buying ads. AOL was a behemoth generating massive amounts of revenue and profit from internet users. + +It was estimated in 1999 that 50% of all US home internet users were AOL customers. + +By 2016 Verizon had acquired both companies in separate transactions for about 9 billion dollars. It appeared to be quite a bargain for 2 once premier companies. And yet they still weren't done destroying value. Now in 2020 Verizon is selling both for less than 5 billion in Cash during a euphoric market cycle. + +20 years of value destruction. + +In 1999 it seemed that owning AOL and Yahoo were no brain investments, these were the dominant market leaders in a new industry. There was no way you could lose money. And yet millions did including shrewd CEOs and Investors, because they failed on the valuation of the business and were euphoric in their future projections and expectations at a time when they should've been cautious. + +Yahoo's market cap overtime + +[https://i.insider.com/5796705d88e4a7b32e8ba7af?width=700&format=jpeg&auto=webp](https://i.insider.com/5796705d88e4a7b32e8ba7af?width=700&format=jpeg&auto=webp) (keep in mind that in the final years yahoo had a market cap of $40 billion, because it had a $38 billion stake in Alibaba. + +Here is a CNN Money report on AOL Q2 in 1999. + +[https://money.cnn.com/1999/01/27/technology/aol/#:\~:text=For%20the%20first%20half%20of,on%20%241.1%20billion%20in%20revenue](https://money.cnn.com/1999/01/27/technology/aol/#:~:text=For%20the%20first%20half%20of,on%20%241.1%20billion%20in%20revenue). + +Just another gangbuster quarter and 2-1 for stock split. No one knew what awaited them for the next decade. +**November 21-27, 1921** + +This week, the Revenue Act of 1921 becomes law and receives a muted response from investors. + +&#x200B; + +>**Quick Stats:** +*DJIA: 77.31 (Today: 35,602)* +*Shiller PE Ratio: 5.9 (Today: 39.6)* +*Federal Reserve Bank of NY Discount Rate: 4.5% (Today: 0.25%)* +*GBPUSD: $3.99 (Today: $1.34)* +*Price of The Wall Street Journal: $0.07 (Today: $4.00)* +> +>**Market-Moving Themes:** +Sentiment slowly turning positive as business activity improves and financial conditions ease (equity, debt markets) +Wartime raw material shortages are ending, paving way for price stability (commodity markets) +European post-war debt payments are causing a strong dollar as gold flows to the United States (currency markets) + +**Executive Summary:** + +* Stocks meander in a circle this week as traders and investors prepare for the Thanksgiving holiday. The worst of the market gyrations don’t feel over, so traders are hesitant to embrace the upward trend. As markets look ahead to 1922, fear and trepidation loom large. Paltry forecasts from last week blanket the papers. + * **Historical Fact:** Today, the tendency for stocks to rally as they surmount negative news is known as “climbing a wall of worry.” As we approach 1922, this is exactly what’s happening. The late John Kenneth Galbraith once said, “the only function of economic forecasting is to make astrology look respectable.” +* The feeling around the Revenue Act of 1921 is that nothing worthwhile has been accomplished. Some taxes have been eliminated or reduced, but not the most burdensome ones on businesses. The precise results from this Act will remain unknown for a few years, the article states, and Wall Street has yet to draw coherent and intelligent meanings from the bill. Treasury Secretary Andrew Mellon warmly embraces the news of passage. + * **Historical Fact:** The Act of 1921 was the first of four pieces of legislation targeting personal income tax. While the media panned the 1921 one, Revenue Acts in 1924, 1926, and 1928 were more heroic. The top marginal income tax rate of the 1920s slid from 73% to 25% from 1920 to 1928, turbocharging consumer spending and swelling personal savings. +* Onerous World War I-era income taxes pushed American and British investors into high quality bonds because accumulated interest was not taxable. Prominent financiers, like Otto Kahn, reiterated their recommendation for bond ownership many times in the press throughout 1920 and 1921. The FT features a piece on reasons why investors should stick with bonds. +* The dithering over Germany’s situation continues. This time, James Simpson, a VP for Marshall Field's (today known as Macy’s), writes to the Journal regarding his trip to Europe. What he finds shocks him: economic and financial chaos. He concludes Germany has two paths, and it will be up to the United States to arrest either from happening. The better path forward, in his view, is to provide 2-3 years of breathing room coupled with debt reductions to the current untenable reality. + +\[ [https://twitter.com/Roaring20sTate](https://twitter.com/Roaring20sTate) / [https://roaring20s.substack.com/p/november-21-1921](https://roaring20s.substack.com/p/november-21-1921) \] +So today I did two RTGS transactions within a span of 4 hours. Half an hour after the second transaction I receive a call from landline 01412822453 (which in Truecaller shows as SBI ATM ALERTS DEPTT). + +The person spoke in Hindi and asked if my name is XYZ. I said "Yes." Then he asked "Have you done RTGS of X lac recently", I said "Yes", he then said "Before this today you have done another RTGS of Y lacs". I said "Yes". + +Then he spoke some biolerplate line reminding me to be careful with online transaction (i forgot what he said, he was speaking fast). Then he cut the call. + +Anyone had this experience after doing large RTGS transactions via Netbanking? It seemed suspicious that an actual person knew about my transactions in real-time. + +Is this some new Fraud Detection system in place by SBI? Should I be worried? +Welcome to the Daily General Discussion thread of /r/EthTrader. + +*** + +The thread guidelines are as follows: + +- All sub rules apply here so please review our **[rules page](https://www.reddit.com/r/ethtrader/about/rules/)** to become familiar with them. The rules page is also linked in the announcement bar above. +- This thread is meant to be more relaxed compared to the serious daily thread. Memes, lambos, moons are all welcome. +- If the front page gets overloaded with memes, all but the top two posted and voted on may be removed. Basically, please post memes in this thread first and upvote the best so the mods know which ones to keep if we need to remove a bunch of memes from the front page. + +*** + + Resources and other information: + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our [Ethereum Education wiki page](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Thank you in advance for your participation. Enjoy! + +There is a lot of discussion in these threads on making money and getting ahead but I’m interested to know - how many are tired of the grind? The constant day to day working with limited time to really enjoy life is something I find myself thinking about more and more. I earn a decent amount by any standard but with each promotion or pay rise it all feels a little emptier. With a husband and two kids, we seem to rush through the weeks in a blur. I’ve seriously thought of selling everything to simplify it all … I don’t know it’s covid or a mid life crisis but has anyone else feel this way?? +"Seeing BCG is worse than finding the slender man in the back of your family portrait. For a public school system, this is like finding the grim reaper at your front door. And he's not selling cookies." - Peter Greene, Little Rock Arkansas English Teacher, 2015 + +**TL;dr - Apes I am floored. All the big players are here and they're all in cahoots with BCG's Corporate Education plan, "America's Education System at a Crossroads: New Research and Insights on Business-Educator Partnerships in PreK-12 Education." Who hired the overpriced consultants?: Bill Gates, The Walton Family, Jeffrey Yass, Betsy Devos, Mitt Romney, Benjamin Netanyahu, Jeb Bush, and many many new names to dive into.** + +&#x200B; + +https://preview.redd.it/3pln2r8v75s81.png?width=777&format=png&auto=webp&s=84617b356a6a5100c2eee46dd85e3f6d008872b9 + +**I think RC might be taking on "The Big Three", the world's three largest strategy** **consulting firms** **because they are nepotic and inter-connected at an elite level:** + +* **McKinsey & Company** +* **Boston Consulting Group** +* **Bain & Company** + +&#x200B; + +https://preview.redd.it/ph72ksuoa5s81.png?width=1734&format=png&auto=webp&s=74dd986961d3e7714b951cca6b8f57d9d84312fc + + **THE YASS NETWORK IN ACTION** + +Late last year, at a Renaissance Charter Stetson Middle School event, the **Gates Foundation** reappeared in Philly, not to announce that the New Media Technology charter school it founded with the Black Alliance for Educational Options (BAEO) was being managed by a criminal, but to promise $100,000 and possibly more to help Mayor Nutter and the SRC start the Philadelphia Great Schools Compact. A new accountability program and signed deal between traditional and charter schools, the compact establishes an Office of Charter Schools and promotes, thanks to the newly formed Philadelphia School Partnership, a parochial school agenda. Philadelphia School Partnership is a fund raising, school assessment group that seeks to convert low-performing schools into corporate factories and religious institutions. + +**Both the Gates and BCG plans for Philly are right on target with the Philadelphia School Partnership’s corporate/voucher plot.** + +The Philadelphia School Partnership’s (PSP) corporatist/voucher/charter connections run deep. One PSP board member, **Janine Yass**, founded the Boys’ Latin School in 2007, where lawmaker Anthony Williams’ former staffer and BAEO member Dawn Chavous is now secretary of its board. Along with Kevin Chavous (DFER/BAEO leader and cousin to Dawn), Chris Whittle (formerly of Edison Schools), and Jeanne Allen (past Corbett adviser), **Janine Yass sits on the board of directors for the Center for Education Reform (CER)**, a pro-choice group launched in D.C. in 1993. In fact, Yass’ love affair with CER goes back to at least 2006, when she, past Bush Secretary of Education Rod Paige, New York City Schools Chancellor Joel Klein, Sallie Mae founder Al Lord, then-Indiana Republican state senator Teresa Lubbers, and others were celebrated for anti-public school accomplishments. + +**Janine is married to Susquehanna International Group’s Jeff Yass, a big funder of anti-public school groups across the country.** Along with Jeff’s partner Arthur Dantchik, Janine Yass donated $1,000 to Dan Harvell’s unsuccessful 2006 run for the GOP primary in House District 7, South Carolina. Blogger Gervais S. Bridges has found that, in this race, 86% of Harvell’s campaign funding came from out-of-state voucher supporters. Americans for Limited Government’s Howard Rich, who currently sits with Jeff Yass on the Cato Institute’s board, also tossed $1,000 to Harvell’s voucher campaign. + +source: [In the City of Corporate Love and Beyond: The Boston Consulting Group, Gates, and the Filthy Rich – Common Errant (btownerrant.com)](http://btownerrant.com/2012/05/18/in-the-city-of-corporate-love-and-beyond-the-boston-consulting-group-gates-and-the-filthy-rich/) + +https://preview.redd.it/wn02lgv3d5s81.png?width=1225&format=png&auto=webp&s=9bb3df82388b5369eb6a7a6e8eca966de2d6a558 + +**BCG’S SISTER CITES: THE CORPORATE SCHOOL PLAN FOR CLEVELAND AND PHILLY** + +This month, Cleveland’s Mayor Frank Jackson is attempting to persuade the Ohio state legislature to buy into a corporate school transformation plan that BCG and others have been setting in motion since 2009. + +**In Cleveland, BCG has utilized the same slash-and-burn tactics as in Philly.** + +To set up the kill, BCG’s 2009 Cleveland plan (PDF ), which also included “reports” on school turnarounds from Education First and theme schools from the Council of the Great City Schools, doesn’t detail cost-saving strategies. + +**BCG AT THE PEARLY GATES** + +In Illinois, BCG sold itself to the **Gates Foundation**, Joyce Foundation, Education First, and several sell-out leaders to help launch Advance Illinois. On the Advance Illinois board, BCG’s senior partner and managing director Marin Gjaja joined former Illinois governor Jim Edgar and State Farm’s Edward B. Rust, Jr., the former chair of the Business Roundtable’s Education Initiative and a McGraw-Hill board member, who has been on the public schools’ enemy list for years. In January 2012, just months after Advance Illinois aided in Stand for Children’s legislative buyout by spreading reform propaganda, BCG’s Shalini Unnikrishnan addressed the Illinois Joint Interim Task Force on Accountable Schools concerning the Illinois school report card, alongside Advance Illinois’ Robin Steans, daughter of Harrison Steans, the chairman of the executive committee at Financial Investments Corporation who sat on Mayor Daly’s charter school-expanding Renaissance School Fund board. BCG revamped the Illinois school report card in 2011 by organizing 60 state-wide focus groups, but this wasn’t the firm’s first Illinois rodeo. In fact, in 2005, as CEO Arne Duncan applauded, the Gates Foundation paid BCG and the American Institutes for Research $2.3 million to devise a managing “portfolio” for the Chicago Public Schools. + +**Gates rehired BCG to write the proposal (PDF) for North Carolina’s Race to the Top bid**, after he bankrolled the firm’s 2007 North Carolina District and School Transformation plan. + +**In 2009, in order to win a $100 million Gates grant to set up an anti-teacher plan in Florida, Hillsborough County Schools hired, with Gates Foundation money, BCG to do focus groups**, survey teachers and administrators, and write up the grant proposal. For community engagement meetings in February and May 2010, besides BCG and Gates representatives, several members of the United Way were on hand, too, as they are in Philly. Hillsborough won the Gates Foundation Empowering Effective Teachers Grant, and the Hillsborough County Teachers Association willingly signed on. + +**BCG won the gig to develop the “teacher effectiveness” system for Hillsborough, too.** BCG and Gates have been involved in “boosting teacher effectiveness” in Prince George’s County Public Schools in Maryland and “improving student outcomes” in the Los Angeles Unified School District. + +**According to currently available tax records, since 2008 Gates has paid BCG $35.5 million.** + +&#x200B; + +https://preview.redd.it/sigq4ftke5s81.png?width=1450&format=png&auto=webp&s=c00185da642a244b101df5b180f997eab63c5d75 + +**Boston Consulting Group: Another Dark Horseman** + +Word went out today that immediately after Arkansas decided to make Little Rock Schools non-public, the **Walton family** called a "focus group" meeting "in conjunction with the Boston Consulting Group. This is worse than finding the slender man in the back of your family portrait. For a public school system, this is finding the grim reaper at your front door. And he's not selling cookies. + +The Boston Consulting Group is often referred to as " management consulting group." That's not entirely accurate. BCG is one of The Big Three consulting groups-- the other two are McKinsey and Bain. People love working there, and the people who work there are recruited heavily from the very toppest universities. These are the guys that Fortune 500 companies call for help making money. Forbes lists them as America's 112th largest private company. Gutting and stripping school districts does not even require a tenth of their power or attention. They are officially scary. + +source: [CURMUDGUCATION: Boston Consulting Group: Another Dark Horseman](https://curmudgucation.blogspot.com/2015/01/boston-consulting-group-another-dark.html?m=1) + +&#x200B; + +https://preview.redd.it/1lta1ysxe5s81.png?width=1103&format=png&auto=webp&s=85ba08024047e6a5c0aabca9deffdc66204766ab + +source: [Walton Foundation sets meeting in Little Rock schools - Arkansas Times (arktimes.com)](https://arktimes.com/arkansas-blog/2015/01/31/walton-foundation-sets-meeting-in-little-rock-schools) + +**Diane Ravitch,** a former school reform advocate who now deplores the takeover of American education by the billionaire reformers, [has written on her popular blog in the past](http://dianeravitch.net/2012/12/03/beware-the-boston-consulting-group/) about the arrival of **Boston Consulting Group** in other school districts. It can be expected to  recommend privatized schools, as it has done in Memphis and Philadelphia. Ravitch wrote: + +**Wherever the Boston Consulting Group goes, certain outcomes are predictable:** + +**1. It will recommend closing public schools.** + +**2. It will recommend opening privately managed charter schools.** + +**3. Most of the schools closed will be in African-American neighborhoods.** + +**4. Most of the teachers laid off will be African American.** + +**5. The Boston Consulting Group will get a fee that is outrageous in comparison to the work they do in writing a report (the report is everywhere the same, just change the name of the city).** + +&#x200B; + +# There is something fundamentally antidemocratic about relinquishing control of the public education policy agenda to private foundations run by society’s wealthiest people. + +&#x200B; + +“Children and animals must be protected at all costs”. I think RC's team is digging up these disgusting discoveries as well. + +https://preview.redd.it/ggm6d6c9e5s81.png?width=902&format=png&auto=webp&s=acd841312460c43d14cea5d442c6a2c7d305330c +$Stopelon started off like any other meme token. + +Before we migrated contracts from F...Elon, we were only a way for people to take their aggression out. The community grew like wildfire and eventually we decided to change the name for marketability and branding reasons. The developers relaunched the contract in a hurry however, because there also was a liquidity problem. + +Unlike the majority of tokens, the developers used their developer and marketing wallets to relaunch the contract, reinstate the price, and manually send everyone the correct amount of Stopelon. Since then, the movement has evolved and grown to the point where people from all over the world come together to rally against market manipulation. People of all races, cultures, and reasoning united against the few taking advantage of the many. + +NFT + +Our first monthly NFT is scheduled for release to Stopelon holders, tomorrow. It will be a Nikola Tesla Coin that is beautifully modeled! The NFTs are now minted! Distribution starts today! We're awarding NFT's in a tiered system, based on token held: + +NFT Holder Reward Tiers + +Top 10: Diamond tier NFT engraved + +Top 100: Gold tier NFT + +Top 1000: Silver tier NFT + +Top 10000: Bronze tier NFT + +Top 100,000: Stone tier NFT + +This is huge for holders, motivates new holders to buy more in order not to miss out! + +As part of our commitment to our original F\_\_\_Elon community, we have a special NFT behind delivered to all 900 original holders! + +Listing Updates + +We are listed on BitMart!!! Tokenomics are supported in the form of airdrops at the end of each month! + +Finally! Wen CMC? We have an answer! We are listed on CoinMarketCap, Coingecko, CoinStats, and Coinbase now! + +Telegram AMA + +The devs hosted yet another great talk in our daily AMA series, on Telegram. Chat participants, devs & the core team chatted & answered questions about our future with exchanges and more! These are recorded and uploaded to our Google Drive, links posted in our telegram. + +Press and Media: + +We are in contacts with many authors to release articles using our recent press releases. Most notably, we are looking forward to getting an update done by the author that wrote our first Yahoo article and already have had an exclusive done on Bazinga. Our press team is doing great and i expect us to have a steady flow of new articles as our press releases go out. + +Tokenomics + +0.1% max buy/sell of total supply + +10% tax total (to holders and LP) + +40% initial burn (48% burned now! ) + +5% dev marketing wallet 5% community wallet + +$8M+ Marketcap + +23,250+ Holders + +✅ Liquidity Locked + +✅ Verified contract 0xd83cec69ed9d8044597a793445c86a5e763b0e3d + +Links: + +🌐 Website: https://www.StopElon.space + +🗣Twitter: https://twitter.com/Stopelon_BSC + +📱English Telegram @StopElon_BSC + +📈Chart: https://charts.bogged.finance/?token= 0xd83cec69ed9d8044597a793445c86a5e763b0e3d + +🥞 Buy (v2, slippage 12%, 0,1% max): +https://exchange.pancakeswap.finance/#/swap?outputCurrency=0xd83cec69ed9d8044597a793445c86a5e763b0e3d +I don’t want to constantly keep asking my lender for questions and concerns. My sister had submitted in the app for a $700k cash out refi. But in the paperwork, he wrote up $555,000 for the mortgage. What should I do? +Fed LEO here, and I’m seeing an alarming amount of photos of people’s faces and their children on here. I work for one of the three letter agencies that combats mostly human trafficking and narcotics smuggling. Over the past few months I’ve been seeing a startling amount of users posting photos of themselves and their children on here and I’m not sure if it’s out of naivety or ignorance to how well developed facial recognition/ biometric software has gotten. + +If you have ever had a passport, drivers license or any photo ID in the past 10 years, I can literally take a photo with my work phone and find out who that person is in one minute. And from there find out a lot more information behind the name. + +And it’s not just the government that has access to the software either. We’ve come across a few bad actors using their own to burn identities of US personnel by cross referencing with social media. So if you’ve got the money, it won’t take much to find out a name behind a photo, or several photos. + +So please, don’t post photos of yourself online if at all possible, especially not on this sub where you’d be a target for some really influential people. At the very least, mask up if you’re gonna post a photo. + +--- + +***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.* +I really feel for people who lost money on 88E/XST/SGC today. It was a HUGE drop. I might not have held them personally, but my advice is to embrace the loss. It might suck heaps right now and it might take some time to recover emotionally, but it takes losses like this to learn how to get better. If you're serious at getting good at investing, losses like are necessary. + + +Getting consistently good isn't about always winning or getting lucky, but slowly learning how to lose less and less. Try to think about what it is that made it drop so much. Why did you invest in the first place? What were possible warning signs? Think about ways that you can avoid this situation in the future. But at the same time, some risks/red flags might have worked out well for other stocks, and it's not about what to completely avoid, but what to take into consideration when assessing risk. A certain amount of risk is necessary especially when you're working with pennies or binary outcomes like with mining or biotechs, but knowing when there's too much risk or how to better manage risk is invaluable, even at the most basic level. + + +I've lost huge percentages of investments and my portfolio so many times on degenerate shit (shout out to DXB you stupid fucker), but each time has taught me more about investing/trading and has added more knowledge to forming own personal strategy. + + +I don't claim to be good at all, and I might still be running on luck/bull market/etc, but my portfolio is on average increasing over time, even including the huge swings along the way. I enjoy doing this too much to quit, so I aim to get as good as I can. I'm a lazy fuck who's found a hobby that both involves being able to lie in bed while conducting in depth research and analysis and makes you money at the same time and I'm not letting go. + + +Finally, I just wanted to add some perspective to losses like this and is something I always think about when I lose money. I know people meme a lot about privilege, but I feel an immense amount of privilege every time I lose money. I was on the train the other day and a homeless guy basically made an address to the entire carriage about how he wanted some help about places to stay because he was so tired of sleeping in the streets and government assistance could only help him for so long. And the whole carriage just was silence, myself included. Like the dude looked depressed as fuck and the system has failed these people, yet here I am throwing thousands of dollars away sometimes investing. Just makes me feel so grateful for what I have and how I can lose money like that and barely be affected and still have a roof above my head. Honestly, if I ever have enough money to not have to work to survive, dedicating my time to helping people in need is something I'd really like to do. + + +But enough sadness, keep your chin up, good luck you degenerate gamblers. It's a tough world out there but you can all do it. +The title is half joking, half truth. + +Looking down the top 100, it may seem like you can just buy anything to 10x your investment, but this is a bull year, and that's survivorship bias in the coin rankings. (You're not seeing the 50 that fell out of the top 100.) + +Usually when you're feeling fomo around a growing project, you're already too late for x10 gains. If you're following hype pumps, you need to recognize when you're early and when you're late. That's not easy. + +The better strategy is to dollar-cost-average into sturdy, longterm projects. Even a coin that "only" does x2 every year or two can be one of the best investments of your entire life—if it lasts. + +Speaking of which, if I had DCA'd into IOTA all bear market instead of just buying during the pump, I'd be up almost x4 by now... +So I've been watching a very interesting mining company for a while now. It is down 90% since it's all time high which was basically brought on with pure hype but then squandered due to absolute mismanagement. Since - the whole management has basically been replaced and since that happened the stock is up about 130%. [See](https://www2.asx.com.au/markets/company/IBG) + +#What is IronBark Zinc? +From their website: Ironbark Zinc Limited is a leading ASX listed resources company focused on delivering shareholder value through the development of its major base metal Citronen mining operation in Greenland. The Company’s focus on the Citronen Project sees it very well placed to benefit from the forecast strengthening of the Zinc market. https://ironbark.gl/ + +Basically here's the long version short. This company has a market cap of like 20 million. However, their research has stated that if they were to get enough funding to start mining for Zinc in this massive mine THEY own, that the revenue of that alone will be 6.4 BILLION dollars. + +Now for YEARS this stock has been doing poorly because management kept saying 'we'll totally get funding you guys' and nothing happened. However, a short time ago they got a Letter of Interest from the U.S. Import Export Bank: + +>Key Commercial Terms + +>* EXIM is able to consider financing up to USD 216,125,000 of the US content for the Project +>* The LOI contemplates that a maximum loan term of 8.5 years will be made available to Ironbark +Ironbark can select either a Guaranteed or Direct Loan. The interest rate for the Direct Loan option is setat the Commercial Interest Reference Rate (“CIRR”). The CIRR is the official lending rates of export credit agencies (“ECAs”). For USD loans, it is calculated monthly, and is based on the U.S. Treasury Rate. The current CIRR for transactions with a repayment period of 8.5 years is 1.46%. +>* An initial expiry date of 6 months from signing of the LOI has been agreed. This can be renewed at Ironbark’s request at six-month intervals, for a maximum of two years + +https://rasmussen.is/2020/11/03/ironbark-receives-letter-of-interest-from-export-import-bank-of-the-united-states/ + +Now this is pretty HUGE news because in following announcements IBG have made it clear that **the US Letter of Interest has attracted many other financiers and they are in talks with all of them**. + +**Translation: the reason this company was literally over 10x worth more was based on something that hadn't happened yet. Now - it is finally happening. EXCEPT that NOW this company has a MC of not even 20mln USD. Upside is truly massive.🚀🚀** + +The most recent Price Target IBG got was literally 4x its current share price: 🚀🚀https://www.proactiveinvestors.com.au/companies/news/934243/ironbark-zinc-gets-speculative-buy-rating-from-morgans-934243.html + +All in all - I am very excited about this penny stock and if they even move closer to actually exploiting the mine they have rights to....well I see this thing exploding upwards. Do your DD! + +Further reading: https://www.proactiveinvestors.com.au/companies/news/935188/ironbark-zinc-progresses-citronen-bankable-feasibility-study-for-completion-in-2021-935188.html + +My position: 500k shares @ AUD 0,012. + +TL;DR 🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 + + +Hello all, + +I have recently left my organisation and had to return some bonuses (including tax) that had a 12 month retention period. + +The thing is the bonus was paid on Feb of 2021. I have already filed my taxes for FY20-21 last year. + +I contacted my org, they told me that they have updated TRACES. They aren't assisting me beyond this... + +I'm not sure just how to get my tax refunded and what those steps are. Would appreciate some help to understand this. + + + +Update: I was able to file a revised return with a CA. Got the tax refund! +With Evergrande about to go belly up some really serious shit is going down. + +Half the raw materials we sell to China are going into the construction. + +Evergrande is beyond huge and to put it mildly they’re utterly fucked. They have absolutely no way to cover their debts. + +40% of government revenue comes from land sales. It’s a giant house of cards, an immense ponzi scheme. Boy we have more in common with China than we thing. + +Construction is the biggest employer in China. + +What’s unfolding is huge and if the CCP can’t manage the implications for us are a massive slow down in commodities. + +The chip shortage in China is beyond huge. Before the US trade ban they imported 300bn$ worth. Their biggest import. + +Now as a result of wide spread shortages car manufacturers in China including volkswagon have slashed production in half. Which is having a knock on impact on the production of batteries. At moment it’s minor because companies are just building up surplus but that can’t keep going on indefinitely. + +So I’m sitting here in my underpants, with coffee stains in full retard mode trying to work out where to hide… it’s starting to feel like maybe, just maybe having all my money in ultra speculative mining exploration companies may not be a brilliant idea… + +Truth be told I think the CCP will do everything they can to keep the wheels on but they’ve been kicking this particular can down the road for a long while… + +———— + +Totally random aside but if Australia wants to save money on submarines now might be a good time to wack a tariff on iron ore and just finish off evergrande et al. Hard to have a war with communist China if it collapses under its own weight and the current protests get out of control. + +Apparently they’re at 20ish% unemployment and all their ultra extreme Covid response measures are fucking shit up real good. + +What do you clowns think? +PLTR just signed a 31.5 Mil$ contract with the UK NHS for its Covid and vaccine rollout. + +The steady stream of government contracts do seem promising. If PLTR can prove itself to a particular agency, and embed themselves into the infrastructure, it'll stick with PLTR for years. + +Although the size of the contracts seem to be small compared to those of other companies, the momentum itself is a very promising sign. + +Source: +https://www.thestreet.com/investing/palantir-pltr-contract-national-health-service-united-kingdom?puc=yahoo&cm_ven=YAHOO&yptr=yahoo +Hello everyone, + +Last weekend I created a [thread](https://www.reddit.com/r/stocks/comments/l8rhr3/weekend_gme_thread_homework_for_all_lets_stop/?), in which I documented which brokers stopped people from purchasing specific securities, and which ones didn't. + +Before it gets forgotten, I want to bring that list back again, and insist that you get a new broker if yours is one of the bad ones. + +This is a much, MUCH bigger issue than you think, and this can and WILL affect you eventually, if you stay with a broker that decides that you cannot trade a security that they don't want you to trade. Note that the securities affected were not just meme stocks, several large stocks some of you might own or have heard about were restricted and their price was thus manipulated, including: + +- General Motors +- Rolls Royce +- Trivago +- Workhorse Group +- Jaguar Health + +And [many more](https://finance.yahoo.com/news/robinhood-expands-trading-restrictions-50-225241993.html). + +When boomer stocks get affected, this means the entire free market is at risk and the next time this happens you might be the one unable to trade your favorite stock if you continue using a bad discount broker. + +**Whether this is the broker's fault or their clearinghouse's fault is irrelevant, the result is your inability to engage in the free market.** This behavior needs to be punished to ensure other brokers don't start doing the same thing. + +Here is my list of brokers which I will continue to update, as per the [previous thread](https://www.reddit.com/r/stocks/comments/l8rhr3/weekend_gme_thread_homework_for_all_lets_stop/?): + + +### Horrible Brokers - Restricted purchasing of certain tickets and lied/gloated about it + +* Robinhood - [Now Blocking 50 Equities](https://seekingalpha.com/news/3656437-robinhoods-50-stock-limit-list?mail_subject=bb-ino-robinhood-s-50-stock-limit-list-with-spacs-makes-mass-exodus-likelier-alpha-tactics&utm_campaign=rta-stock-news&utm_content=link-73&utm_medium=email&utm_source=seeking_alpha) - [CEO lying saying they have no liquidity issues, 1 day before getting a 1 billion bailout](https://www.youtube.com/watch?v=6fs_lyGn4YA) - [Join the lawsuit against them if you were affected](https://robinhoodgamestopclassaction.com/) +* Interactive Brokers (US/CAN) - [Display visible contempt for Retail traders, wants GME to go to 17 before re-enabling trading](https://www.youtube.com/watch?v=7RH4XKP55fM) - [Blocked Trading212, as their acting intermediary](https://www.financemagnates.com/forex/brokers/trading-212-blames-interactive-brokers-for-trade-execution-delay/) +* E-Toro - [Proof](https://markets.businessinsider.com/news/stocks/robinhood-webull-m1-reopen-gamestop-stock-trading-2021-1-1030019926) - [Forced stop-losses](https://www.etoro.com/posts/0__entry__df95e7f0-1772-4ec7-a271-69b13ca229dd?utm_medium=Direct&utm_source=55714&utm_content=0&utm_serial=SocialSharePostcopyLink_918269&utm_campaign=SocialSharePostcopyLink_918269&utm_term) + +### Bad Brokers - Restricted purchasing of certain tickers + +* E-Trade - [Proof](https://www.theverge.com/2021/1/28/22254863/etrade-gamestop-amc-stock-reddit-wallstreetbets-robinhood) +* Ally - [Proof](https://www.wsj.com/articles/online-brokerages-restrict-trading-on-gamestop-amc-amid-frenetic-trading-11611849934) +* Public.com - [Proof](https://techcrunch.com/2021/01/28/webull-and-public-remove-restrictions-on-memestocks-after-citing-trade-settlement-firm-as-the-cause/) +* Merrill Edge - [Proof](https://www.streetinsider.com/Momentum+Movers/Merrill+Edge+said+to+have+put+restrictions+on+trading+in+AMC+Entertainment+%28AMC%29%2C+GameStop+%28GME%29/17879212.html) +* IG Broker - [Proof](https://finance.yahoo.com/news/gamestop-amc-uk-trading-platform-163546937.html) +* Trade Republic - [Proof](https://www.tellerreport.com/business/2021-01-29-%0A---trade-republic-and-gamestop--patronizing-investors-%0A--.BJNYXthWl_.html) +* Webull - [Admitted they were forced to by clearing firm](https://finance.yahoo.com/news/we-bull-ceo-explains-why-trading-was-restricted-amid-the-game-stop-market-mania-172539318.html) - [Clearing firm is Apex](https://www.youtube.com/watch?v=4RS4JIEVyXM&feature=youtu.be) - They'll be moved to neutral once they publicly confirm Apex was sole reason the trades were restricted. +* Stake - [Proof](https://hellostake.com/au/stake-updates/understanding-trading-suspensions/) +* Trading212 - [Proof](https://inews.co.uk/news/business/gamestop-uk-trading-robinhood-trading-212-gme-stock-restricted-legal-action-850465) - [re-enabled, caused by intermediary](https://twitter.com/Trading212/status/1355074914202628098) - [Intermediary is IB](https://www.financemagnates.com/forex/brokers/trading-212-blames-interactive-brokers-for-trade-execution-delay/) - [Restricted purchasing of other securities previous](https://community.trading212.com/t/gold-buying-restricted-in-larger-quantities/27987) - Based on them restricting securities before this, and countless complaints regarding other restrictions, I've put them back in the bad list. + +### Neutral Brokers - Restricted trading, publicly naming their intermediary + + +* Freetrade - [Proof, blames Barclays](https://www.cnbc.com/2021/01/29/gamestop-saga-uk-trading-app-freetrade-halts-purchases-of-us-stocks.html) - [CMO Interview](https://www.youtube.com/watch?v=V76UGdYAdcI&feature=youtu.be) - [CMO Tweets](https://twitter.com/v18n/status/1355258696885030915?s=19) +* M1 Finance - [Proof](https://markets.businessinsider.com/news/stocks/robinhood-webull-m1-reopen-gamestop-stock-trading-2021-1-1030019926) - [Blames Apex Clearing](https://twitter.com/m1_finance/status/1354837064072753152) + +* Tastyworks - [Proof, blame Apex Clearing](https://twitter.com/thetastyworks/status/1354879706991128578) +* Stash - [Proof, blamex Apex Clearing](https://twitter.com/Stash/status/1354839916761518083?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1354839916761518083%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.newsweek.com%2Fwebull-blocks-gamestop-amc-transactions-stock-market-robinhood-1565172) +* TD Ameritrade/Canada - [Proof](https://www.cnet.com/news/reddits-amc-and-gamestop-stocks-swing-wildly-after-robinhood-td-ameritrade-restrict-trades/) - [Proof2](https://www.cbc.ca/news/business/robinhood-gamestop-1.5891363) - (Margin requirements increased, Covered call and short put orders may only be placed with a broker and support times are > 2h, other trades restricted) - Neutral because they didn't restrict the purchase of stocks with cash. +* Revolut - [Proof](https://www.financemagnates.com/forex/brokers/gamestop-buyers-suffer-another-setback-as-revolut-bans-trading/) - Blames DriveWealth LCC + +### Good Brokers - Did not restrict trading + +* Most Canadian Brokers (Questrade, Qtrade, Disnat, BMO, HSBC, RBC, TD, etc.) +* Most European Brokers (Swissquote, TradeStation, Degiro) +* Fidelity +* Vanguard +* WealthSimple (CAN, US) +* Schwab (Margin requirements increased) +* You Invest (JP Morgan/Chase) +* Capital.com +* Wells Fargo - [allowed trades but banned its advisors from talking about GameStop](https://www.barrons.com/articles/wells-fargo-blocks-advisors-from-recommending-gamestop-amc-51611870929) +* Nordnet +* Citibank + +--- + +Again, get a new broker. + +Thanks +Your markets are run by bots. Now your daily threads are too. + +&#x200B; + +This thread is for plans and thoughts prior to the market open period. + +Maybe use this time to read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) [.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +&#x200B; + +Posts relating to the "Is /r/ASX_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. [You have been warned](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share). + +&#x200B; + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related](https://discord.gg/wsNDGTf5QH). +I have three reasons for why I prefer to rent right now instead of actively looking for a house. + +1) My rent is dirt cheap. Between my brother (roommate) and I, we pay $500/month plus a few meager utilities. As I’m debt-free and frugal in most other areas, this $250/month is almost pocket change, and is obviously incomparable to what I’d pay on a mortgage. +2) The place I’m renting now is on a farm and has everything I’m looking for in a nesting place. Solitude, space for our dogs to exercise, a beautiful, private trophy bass lake to fish and swim, plenty of room to garden, etc. Landlord isn’t a control freak and lets me basically treat it as my own. Realistically, I wouldn’t be able to buy a place even half this nice at this point in my life, and why would I want to settle for a place I’d be less happy? +3) I don’t want to sound like I’m counting on a windfall, but my long-term girlfriend is an only child and her parents are our landlords. If we get married and stay together (which is the long-term plan) we’d realistically be living here anyway. I know life throws you the unexpected sometimes and this is not an excuse to not save for my own place “just-in-case” but it IS a solid relationship and would nullify any reason I’d personally want to own another house. + +These are my reasons. Most of my friends have bought “starter homes” at this point and think it’s dumb that I shouldn’t aspire to do the same. I feel as though the traditional “American dream” isn’t a mold that everybody should be pushed into, and that a different path in life might be okay in certain situations. What do you think? +Throwaway account here + +My wife and I love this sub and are well on our way to FatFire. However, this post is actually not for us but for one of our parents, who are FatFireD and currently starting one of FatFire's favorite topic....building a home to retire and live the rest of their lives + +A key concern for them is privacy and safety. They live in the suburbs of a MCOL city with a not great crime rate. In particular, they are worried about theft, someone attempting to enter the house, etc. They certainly don't want a barricaded, doomsday prepper home, but they want something that will allow them to sleep easy and is one of the most secure houses in the neighborhood. Moving isn't on the roadmap for them. + +In their and our research thus far + conversations with architects, all security suggestions for building the home are either extremely basic or extremely paranoid. For extremely basic, there are suggestions about having a deadbolt or heavier exterior doors. For paranoid, there are suggestions about bulletproof glass. There doesn't seem to be a middle ground, but that middle ground is exactly what they are looking for + +This question feels perfect for FatFire folks who know a lot about building homes (there are a lot of great conversations about that) and have higher NW and may be more security inclined than the average person. I, unfortunately, didn't see much about security in the home building threads + +So: when building a house from scratch, what are some moderate-level security features and functionality that you built or wish you had built into the home? +I have a ton of collections from past mistakes in college. (I’ve been independent and paying for everything since I was 17 but never had financial literacy. I made not so great decisions and ended up struggling and thus the charge offs) + +Income: 90k +Collections: ~9000 between 6 accounts +401k: ~8k +Savings- 0 +Rent/ utilities: ~ $2100 monthly (split between me and my partner) +Car- 288 monthly +Student loan debt: ~50k + +I feel like no matter how much I make I’ll still be drowning. I’m exhausted just thinking about student loan debt while trying to save for a rainy day. At 28 I can’t even afford to save up for a house. I’ve just avoided my financial situation forever. +Wondering what you all think of this ETF? I’ve been holding with a $43 average price but am seeing the price fall significantly everyday. Trying to determine if this is a good long term hold or if I should cut my losses, especially with the price falling below previous support. How do you all feel about the MSOS etf? +https://www.marketwatch.com/story/ge-to-freeze-pensions-for-about-20000-employees-stock-surges-2019-10-07 + +I see a lot of posts here about pensions vs 401ks, or people who say "I'm not worried because I've got a great pension plan", or something to that effect. + +Well, this is a stark reminder that pensions are not bulletproof. Yes, ALL investing is some form of gambling, but with 401ks and IRAs it's at least YOUR money, which you control and can withdraw as needed. I am *not* saying that pensions are inherently bad and that no one should ever use one. They are a great cushion to your other assets. But please, please, please: do not SKIP other forms of investing because you think you're going to be set for life in retirement thanks to a company pension plan. +I have owned and managed dozens of different-sized residential buildings between 1 and 12 units, and have just reviewed my past 10 years in the business. Here's why I like my duplexes the most: + +- My duplexes have had the most appreciation in my area (compared to other multi-family sizes) + +- The 4 duplexes I rehabilitated and sold all went to lower-income or young families, to pursue homeownership. + +- The duplexes I have rehabbed and held have easier and cheaper maintenance than the bigger buildings (contractors seem to charge more 'residential' rates than 'commercial' rates with the 3+ unit buildings) + +- Significantly less inter-tenant conflicts + +- Tenants take more pride and actively improve the the exterior of the homes landscaping / upkeep + +- Lower turnover + +Just wanted to share. + +TL;DR - I LOVE DUPLEXES ESE +My dad has been investing in Mutual Funds for over 20 years. His investments are all in Regular funds recommended by his financial advisor (these are the ones who are called distributors now). Most of these investments are via SIP route. Today I got my dad onboard a digital mutual fund platform(Imported his external funds) and was surprised with the returns he got over the years. I was expecting the returns to be higher as he invested over the years when the Indian markets where rising. The XIRR returns he got is 8.4%. + +Comparing Index fund returns over the same period it is 10.8%( Nifty Index regular - Dividend plan). Dividend plans is what my dad invests as he needs regular income. + +Considering this data I am thinking of moving my investments to Index funds. I too am an investor for 10 years and I too see only 8.32% returns(I invest in Growth plans). + +Wanted to share this with the community as there is a popular opinion in India that active funds are better than index funds. I know this is anecdotal data but wanted to hear from the community about this. +I write this with a heavy heart, but I want to commemorate my father somewhere he can truly live on. + +My father was 57 years old, and had a lot of issues. Nobody really thinks about all the good things until someone is gone. My father wasn't a man of means, but during the early stages of my childhood fought hard to provide us an amazing life. And did so without ever really letting us know. + +After a divorce from my cheating bitch of a mother, after multiple back issues, multiple surgeries, and multiple risks to his day to day life, I think he just went downhill. + +I haven't gotten an official answer from the coroner since he's over 3 states away and it's all being communicated mostly through texts with his girlfriend right now, but honestly I'm not sure I want to. + +I came here to say, my father believed in me with all of his being. When I told him I owned 4 shares of GameStop and that it was way over priced when I bought it, he just told me how proud he was. Pretty convinced he didn't even know what I was saying. But in that same way he believed in me, he believed in every single one of you too. My father would've loved this cause and would've rallied with us till the end. + +I had a cool ass dad and you guys all deserve to have a cool ass dad too. He believed in me, and he believed in you too. Whether you're winners, or losers, or damn dirty apes. + +We love you dad. Thank you for believing in us. + +Edit: +1.)Thank you to everyone who has left me their condolences. Believe it or not, I attribute a lot of my ability to move past some of this because of your support. I don't have a great relationship with a lot of other members of my family, and my girlfriend has been great at supporting me through this as well. + +2.) Thank you for all the upvotes, even if you didn't leave a comment. I don't really care about the karma (as I pointed out to a few rude people here), but seeing that so many of you got to read the thread and appreciated my dad the way I did REALLY means a lot. Thank you for that. Also want to point out that I have been taking all of the coins I got from the awards (That I ALSO didn't really care to receive but they manifested nonetheless) and giving out awards to members of this subreddit for all of their devotion to the cause. + +3.) I didn't realize I would be the one executing my dad's estate however after I wrote this post I started becoming inundated with calls and text messages from funeral homes, coroners office, investigators, and family members. To anyone who has not gone through this process before I would advise you to have the hard conversation with your parents and ask them what their final wishes are. While my father ( dubbed "poppawallstreetbets" by another user here) didn't really have much in that department I believe we have put together an arrangement he would be happy with. We will be having him cremated(which at least that part WAS vocalized), flying out to his home town in Carpenteria, California, and having his Ashes spread along the pacific ocean where he spent his younger years surfing before injuring himself. I have done my best to invite as many of his friends and family as I can. But for anyone in the immediate area, I invite you to attend as we finalize more of the details over the next 2-3 months. + +Again, thank you all for your support. As I see on here frequently, Ape Strong Together. Now let's get to the moon and see my fuckin pops and make him proud! +teaching myself python and my understanding is that HFT requires faster languages likes C++ (Rust?), and yet I see Python is still an oft required skillset on quant dev applications. So im just wondering, under what circumstances might one use python instead of C++? both in a trading context and otherwise +Electric-truck startup Lordstown Motors Corp. RIDE 4.25% disclosed in a new regulatory filing Tuesday that it doesn’t have sufficient cash to start commercial production and has doubts about whether it can continue as a going concern through the end of the year. + +The company amended its annual report to include the going-concern notice, which can flag survival problems for businesses within the next 12 months. The warning comes as new challenges emerge for the two-year-old firm that is trying to convert a former General Motors Co. plant in Ohio to produce electric pickup trucks. It has said its first model, the Endurance, will start production in September. + +Lordstown Motors Chief Executive Steve Burns said on a call with analysts in late May that the startup would need to raise more capital to hit its target of building 2,200 pickup trucks by year-end. The company said at the time that higher-than-expected costs were accelerating its cash burn and that it would finish the year with between $50 million and $75 million on hand. + +The company was among a number of new electric-vehicle startups that went public last year through reverse mergers with special-purpose acquisition companies, or SPACs. Lordstown raised $675 million from its reverse merger last fall, a deal that valued the aspiring truck maker at about $1.6 billion. + +The company didn’t immediately respond to requests for comment. + +https://www.wsj.com/articles/lordstown-motors-amends-annual-filing-with-going-concern-notice-11623181411 +You're insane if you don't have a $Bingus bag right now, just search this sub and you'll see a constant stream of bullish next-level news! + +**Rocky Kanaka** just made his first $Bingus video! He has **2 MILLION YouTube subscribers** and his show **Save Our Shelter is on Netflix!** + +**Check out his new** [**YouTube video here!**](https://www.youtube.com/watch?v=BXgDps7y4TI&t=144s) + +It features Rocky reaching out to TikTok influencers and donating $1,000 for the first 10 who message him back. It's a really cool way of promoting good causes and getting the word out there! They’re about to reach the mainstream, for real. Bingus is mentioned left right and center and this exposure is going to open so many doors for the team. It’s only going to get bigger and better from this point. + +They just partnered with $Dogira, a cryptocurrency token focused on creating gaming ecosystems, software development kits for integration onto the blockchain and utility based NFTs! They just donated over **$20,000** on behalf of MoistCr1tikal! + +Last but definitely not least, they're getting listed on **HOTBIT** exchange! This is going to mean huge progress can be made and it will now be leagues **easier for people to buy $Bingus** and break in to the mainstream consciousness! It's crucial to get around the PancakeSwap issue of accessibility, and the Hotbit listing is just the beginning, expect to see them appear on even more exchanges too! + +All of this and more can be found and verified in our links below. This might be your last chance to get in before we go parabolic. + +**Other news from this week:** + +* **BogTools** built website redesign incoming! +* **Blowfish.one** partnership as their first lottery-as-a-service test case. (The winner **won 1 Billion Bingus, or about $10,000** as of writing)! +* **Neural Pepe** and Bingus came together to auction off an AI-generated Pepe NFT! The sale raised 1.6 BNB for Wolf Trap Rescue 🐾 +* Trading on **ApeSwap** and LP farming on **TakoDefi** +* An **official merch store is coming very soon!** They managed to secure the trademark to the Bingus meme and have done everything to a high legal standard. None of this GrumpyCat C&D rug nonsense! + +# Tokenomics + +**Only 3% slippage needed** + +1% goes to charity | 1% is burned | 1% is auto-sent to all $Bingus holders + +Holders: 12,091 + +Market Cap: $10.8m + +^(at time of posting) + +# Links + +$Bingus website [bingus.finance](https://bingus.finance/) + +Telegram: (Search for: @bingustoken2officialnew) + +[Discord](https://discord.com/invite/qKdZdd558F) + +[Twitter](https://twitter.com/bingustoken/) +It looks like there's bank runs happening in China, but no one seems to be talking about it much on here? + +From CNN: + +"Since April, four rural banks in China's central Henan province have frozen millions of dollars worth of deposits, threatening the livelihoods of hundreds of thousands of customers in an economy already battered by draconian Covid lockdowns. +Anguished depositors have staged several demonstrations in the city of Zhengzhou, the provincial capital of Henan, over the past two months, but their demands have invariably fallen on deaf ears. +On Sunday, more than 1,000 depositors from across China gathered outside the Zhengzhou branch of the country's central bank, the People's Bank of China, to launch their largest protest yet, more than half a dozen protesters told CNN." + +Full article [here](https://edition.cnn.com/2022/07/10/china/china-henan-bank-depositors-protest-mic-intl-hnk/index.html) + +What exactly does all this mean for the global markets? I was look at a thread on r/worldnews earlier and people seem to think this is Great Depression levels of bad, which I'm guessing it isn't if it's not getting as much attention as even Evergrande was. + +So what do we think? Is this a non-issue for global markets (in light of current pressures), or at we look at global economic catastrophe? +# Our Use Cases +## Firestarter: + +FireStarter is a unique Launchpad project developed by the Bonfire team. It is the second step towards the building of the Bonfire dApp ecosystem, which will provide the token with several new use cases. + +More info on Firestarter available on Telegram or Discord! + +# Q3 2021: + +This is the first step for the Bonfire NFT market. + +We're building the most unique NFT frictionless trading market, where you can analyze, track and discover in real time valuable blockchain-backed NFTs, navigating securely the markets with transparency and coziness. + +We have severely positive undisclosed plans for the NFT market in general. So keep updated in the next weeks! + + +# EOY goal : + +Our community will migrate to a fully functioning social media platform with an ecosystem running on the bonfire token. We aim to implement liquidity pools between friends, NFT AR/VR showrooms, full profiles, daily games and quests and so much more! + + +# Our Community! + +Having grown to 100k+ active holders since launching, we are amongst the fastest growing communities within the space. More importantly, our community has drive and passion like no other! We also have had an increase of 24k holders within the last two days! + + +Website - www.bonfiretoken.co/ + +WhiteBIT - Coming soon! + +CoinMarketCap - https://coinmarketcap.com/currencies/bonfire/ + +Coin Gecko - https://www.coingecko.com/en/coins/bonfire + +Discord - https://discord.gg/bonfire + +PancakeSwap - https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x5e90253fbae4dab78aa351f4e6fed08a64ab5590 + +Telegram - https://t.me/BonfireTG + +Our own subreddit - https://reddit.com/r/BonfireToken/ + +Twitter - https://twitter.com/token_bonfire +Old job was toxic. I hated my life. Every day I would go home worried about something. Started going super frugal to max out my investment accounts. Lived a diminished life (hate to say it but I didn't date much.) Did this for 5 years. + +Went back to school, and couldn't get a job. Had to work in a restaurant for 9 months. + +So roughly 3 months ago I got a new job. Complete turn around. My experience has given me added perspective. + +Job yes is boring, pays "only" 50k a year, etc. But I feel I'm already pretty close to maxing on my hobbies. Like, if I had 200&#37; more free time I wouldn't know what to do with it. Weekend is enough for me (especially compared to random Tuesdays I had off at the restaraunt.) Actually, weekend I say is underutilized. Not really doing much except reddit. + +This is tough for me because I've invested so much in the FIRE community. Not only just reading r/fi and blogs, but I've gone to meetups, lived my life for super frugality, etc. + +What do you think? +We have all read the cliche definition of [gamma](https://www.investopedia.com/terms/g/gamma.asp). It's the only second order Greek that is readily available on the option chain of just about any trading platform. This arguably makes gamma the most important second order Greek. Yet, it's often ignored. + +Under one of my [comments](https://www.reddit.com/r/thetagang/comments/j095je/is_this_a_reasonable_goal/g6pboxn/?utm_source=share&utm_medium=ios_app&utm_name=iossmf&context=3) in this subreddit, u/MrKhutz asked me to create a post about gamma. Because I like options, I couldn't resist. + +# Curves + +Before discussing gamma, we need to cover some curves. + +Beginners often make the mistake of only thinking about the profit and loss of their options trade post expiration. I don't blame them, because I made the same mistake. The expiration profit/loss curve is the easiest to conceptualize. If the spot price is at or below the call strike, then the option is worthless. If the spot price is above the call strike plus premium paid, then the option is at breakeven. ITM delta is one. ATM/OTM delta is 0. No other Greeks required. Simple. + +Below is the expiration curve of a SPY call. + +[Expiration P\/L Curve of SPY201012C336](https://preview.redd.it/umtdhu8j6mp51.png?width=2116&format=png&auto=webp&s=932c6b0bfcb4e7055f608d40525dc6810d377cf8) + +What about before expiration? That's when all the fun happens. That's when the Greeks dance the [kalamatianos](https://www.youtube.com/watch?v=wvul9U03Bvg). Below is the current profit/loss curve of the same call, juxtaposed with its expiration profit/loss curve. + +[Current P\/L Curve \(Magenta\) vs Expiration P\/L Curve \(Cyan\) of SPY201012C336](https://preview.redd.it/igx63ixm6mp51.png?width=2117&format=png&auto=webp&s=05be006d5795567d2c2bba0c2b47a67f7e600b53) + +As you can see, the current curve is not a straight line, and it does not have a sharp corner like the expiration curve does. Over time, as the option approaches expiration and its extrinsic value decays, its P/L curve bends more and becomes more like its expiration curve. Below is the call's curve projected about two weeks into the future, a few days before expiration. Notice how the bend of the curve is more pronounced. + +[Future P\/L Curve \(Magenta\) vs Expiration P\/L Curve \(Cyan\) of SPY201012C336](https://preview.redd.it/r7hyd03q6mp51.png?width=2117&format=png&auto=webp&s=2e90f6965e5fd6a2799fb2469db1bd2ab97d8469) + +For the sake of brevity, I only used a long call in the above examples. + +* To visualize the curve of a short call, flip the long call's curve top to bottom. +* To visualize the curve of a long put, flip the long call's curve left to right. +* To visualize the curve of a short put, flip the long call's curve left to right and top to bottom. + +Fun Facts + +* While the passage of time bends the current P/L curve, bringing it closer to its expiration P/L curve, an increase in implied volatility straightens the current P/L curve, taking it farther away from its expiration P/L curve. +* The P/L curve can be tilted with a stock position in the underlying. +* The P/L curve can be reshaped and/or tilted with a combination of contracts/spreads. + +# Slippery Slope + +Now that we can visualize the pre-expiration P/L curve, we can apply the Greeks to it. The easiest Greek to see on the curve is delta. If you haven't figured it out yet, delta is the slope (or steepness) of the P/L curve. On the expiration curve, the slope is 0/1 on one side of the strike and 1/1 on the other side of the strike. On the pre-expiration curve, the slope changes more gradually with the spot price. Its slope flattens out closer to 0/1 when the spot price brings the option deeper OTM, and it steepens closer to 1/1 when the spot price brings the option deeper ITM. This change in slope is numerically described by gamma. If delta is the slope of the P/L curve, then gamma is the slope of delta (slope of the slope). If delta is the steepness of the P/L curve, then gamma is the bend of the curve. Notice how the bend is more pronounced around the strike. This is why gamma is the highest for ATM options. Remember how the P/L curve bends more as it approaches expiration? This is why gamma increases for near-the-money options approaching expiration. + +Thus, delta and gamma essentially tell you where you are along the current P/L curve of the option. They tell you its current slope and its current bend at the spot, respectively. Theta tells you how the curve will change at the current spot after one day, while vega tells you how the curve will change at the current spot if implied volatility goes up or goes down by one percent. Delta and gamma refer to the current shape of the curve, while theta and vega refer to the change of the curve's shape. + +# Landlords and Tenants + +All I want to do is collect my premiums. Why should I care about this stuff? + +When you write an option, its buyer pays you premium. Over time, this premium depreciates. How does the buyer benefit? The buyer benefits from the bend of the curve. + +The option buyer's gamma is positive. + +* On a directional trade, positive gamma decelerates losses from an adverse underlying move and accelerates profit from a favorable underlying move. +* On a delta-neutral trade, positive gamma accelerates profits in either direction of the underlying move + +The option writer's exposure is the opposite. + +* On a directional trade, negative gamma accelerates losses from an adverse underlying move and decelerates profit from a favorable underlying move. +* On a delta-neutral trade, negative gamma accelerates losses in either direction of the underlying move. + +To enjoy this luxury, the buyer needs to pay rent via depreciating premium, like a tenant paying rent to the landlord. Like the landlord, the option writer collects rent via depreciating premium but has the obligation to provide the buyer with the luxury of the bent curve. + +**Theta and gamma are inversely related.** + +For the option buyer: + +* low (+) gamma / low (-) theta +* high (+) gamma / high (-) theta + +For the option writer: + +* low (-) gamma / low (+) theta +* high (-) gamma / high (+) theta + +This is why short-term near-the-money options are risky for both, the writer and the buyer. Nearing expiration, options that are near the money have high positive gamma and high negative theta. The buyer benefits from the high positive gamma but can get killed by the high negative theta. On the other hand, the writer benefits from the high positive theta but can get killed by the high negative gamma. + +There is an exception to this theta-gamma relationship. A spike in implied volatility decreases positive gamma and increases negative theta of an option. This is the BSM model’s way of compensating for the inflated premiums, maintaining the integrity of the Greeks, and projecting the inevitable worthlessness of the option’s extrinsic value. This is why it's dangerous to buy an option with inflated implied volatility (e.g. earnings plays). The buyer pays high premium for an option with high negative theta but gets relatively lower positive gamma in return. + +# Know Thy Exposure + +That's the cardinal rule in options trading. Options are multidimensional and nonlinear. Knowing your exposure is crucial when trading options. Gamma is part of this exposure. Know where your P/L curve bends and how it bends over time and IV fluctuations. May the Greeks be with you. + + AMENDMENT + +Some commenters requested examples specific to r/thetagang strategies. + +# Theta Gang Examples + +I decided explore two examples, one directional and one delta-neutral. + +**Cash-Secured Put** + +A cash-secured put gives you a directional exposure with negative gamma. + +[SPY 0.15 Delta Cash-Secured Put 30 DTE](https://preview.redd.it/lzx5r2jnmqp51.png?width=2203&format=png&auto=webp&s=fbb688a2fcf1ab8d3b89e1b19cf66e35156e766d) + +I added price slices spaced 10 dollars apart. Study the deltas, gammas, and P/Ls at each price slice. Notice how gamma is the highest at the strike. This is where the bend is most pronounced. Notice how it doesn't take a lot for a downward move to start racking up losses. Notice how it would take a 20-dollar move upward or about 4 weeks for the trade to get almost to its maximum profit. A 20-dollar move downward would generate an unrealized loss that is greater than the maximum profit, even without considering a spike in implied volatility from a sell-off. This is the exposure you have when you are benefitting from time decay. This is negative gamma. + +**Iron Condor** + +A balanced iron condor gives you a delta-neutral exposure with negative gamma. + +[SPY \~0.15 Delta Iron Condor 30 DTE](https://preview.redd.it/ccwsrbyapqp51.png?width=2203&format=png&auto=webp&s=78e1900debebd0a1713acd184c520576e6ab2bf5) + +Again, I placed price slices spaced 10 dollar apart. Study the deltas, gammas, and P/Ls at each price slice. Notice that negative gamma is the highest at the money, where delta is relatively neutral. Notice how delta accelerates downward in both directions. Also, notice how gamma turns positive at the tail ends. That's the long legs of the iron condor bending the curve upward. + +For an IC this wide, this dynamic changes a bit over time. Below is the same IC, held over time until a few days before expiration. + +[SPY \~0.15 Delta Iron Condor Opened at 30 DTE and Held to Near Expiration](https://preview.redd.it/9025h9b3uqp51.png?width=2464&format=png&auto=webp&s=b0289affdcba598e21a541893e1b65070fb80279) + +Notice how gamma is minimal in the middle of the iron condor (there is almost no curve). The curve takes a dive on the way to the short strikes and bends back up around the long strikes. As you can see, you don't have to be that close to the short strikes to start losing the profit so patiently accrued, if the underlying moves to test either of the short strikes. This is the bend of the curve. This is gamma. +Good morning! Here's the daily update on RRGs, and I will write more about each sector every Monday. + +&#x200B; + +https://preview.redd.it/460cn4rzujr61.png?width=1600&format=png&auto=webp&s=0fc38463dac64f77787ef25c7b3bad42d267b7ab + +&#x200B; + +https://preview.redd.it/jxelw3k1vjr61.png?width=1600&format=png&auto=webp&s=541686279da99516fd3fa8e0574c501d42ee0f97 + +&#x200B; + +https://preview.redd.it/2fcjawo3vjr61.png?width=1600&format=png&auto=webp&s=5cc5c8bb828240e112371bd2852ab8b609a315c5 + +You can find stocks within each sector [here](https://imgur.com/a/64iPY0S). +I Saw a post on r/dataisbeautiful about how basically all of America's problems could be solved if we just taxed the super rich. And how even if we took 2/3s of their wealth they would still be billionaires. + +Now something inside of me says that it wouldn't work but I don't know how or why. Would some economist please tell me why it wouldn't work. Or if it would. + +I know that this could get political but if at all possible please don't. I'm just so out of my depth here I'm not really sure how to phrase this question correctly. + +Post in question +https://www.reddit.com/r/dataisbeautiful/comments/jealem/a_bar_chart_comparing_jeff_bezos_wealth_to_pretty/?utm_medium=android_app&utm_source=share +Live in US. 36 y/o single parent of two young children. Very ill; very, highly likely aggressive cancer (<1 year, possibly much sooner). Working with doc to determine cause; however (b/c public health care in America is slow. yay.), I will not have the definitive testing for 5 more weeks. + +Currently have ~$2000 in savings. Monthly income of $1600 via child support. No major debts (~$24k in Fed student loans, but no payments b/c am below income threshold). + +I have always planned on donating my body to science, so I'm not looking to pay for funeral and burial services. Given that I have potentially five more weeks without a terminal diagnosis, is there anything I can do to help my children and my children's new guardian financially? + +Edit: Thank you for all your well wishes and support. I greatly appreciate it. I am not trying to scam any insurance carriers. I am just trying to examine my options. I know I ~~failed my children~~ fucked up massively by not signing up for life insurance beforehand. I guess I was just checking to see if anyone had another idea for a lifeline. I am not currently thinking very clearly (medication is rough). Thank you to everyone for explaining what is probably obvious. + +Edit #2: For those of you following this train wreck, I'm getting a little drunk by now. I think my doc wrote it down as "self medication" lol. I'm trying to keep up with the comments. Truly. + +Edit #3: This thread has become a little rough emotionally. To every child here who lost their parent, I'll say what I tell my children every day, "Momma loves you forever and ever and ever. Never forgot that." *hugs* +[https://ktla.com/news/local-news/trump-admin-850-billion-economic-stimulus-plan-includes-payouts-to-americans-this-month/](https://ktla.com/news/local-news/trump-admin-850-billion-economic-stimulus-plan-includes-payouts-to-americans-this-month/) + +&#x200B; + +How do y'all think this will affect the market? +The Bonfire has been lit. + +&#x200B; + +This coin has absolutely crazy moon potential. + +&#x200B; + +It's a community-owned token. Rug-pull proof (ownership-renounced, liquidity burned). + +&#x200B; + +It has hit up to $25M in just three days + +&#x200B; + +Only three days old, the community has responded in turn already paying for a PooCoin ad and are currently looking at getting a billboard in Times Square. Seriously, they got a quote for $5k already. + +&#x200B; + +Dedicated wallet with donations that have already reached $10k, donated by the community withing 12 hours! + +&#x200B; + +It's still super early, and has potential to go up to $100M market cap by TOMORROW. + +&#x200B; + +Most big whales have already dumped, and now we are more community based and PUMPING! + +&#x200B; + +I got my bag. Will you? + +&#x200B; + +Sitting by the comfy bonfire ;) + +&#x200B; + +Website - [www.bonfiretoken.co/](https://www.bonfiretoken.co/) + +&#x200B; + +Telegram - [t.me/BonfireTG](https://t.me/BonfireTG) + +&#x200B; + +PancakeSwap - [https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x5e90253fbae4dab78aa351f4e6fed08a64ab5590](https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x5e90253fbae4dab78aa351f4e6fed08a64ab5590) + +&#x200B; + +Chart - [https://poocoin.app/tokens/0x5e90253fbae4dab78aa351f4e6fed08a64ab5590](https://poocoin.app/tokens/0x5e90253fbae4dab78aa351f4e6fed08a64ab5590) + +&#x200B; + +Our own subreddit - [https://reddit.com/r/BonfireToken/](https://reddit.com/r/BonfireToken/) + +&#x200B; + +Twitter - [https://twitter.com/token\_bonfire](https://twitter.com/token_bonfire) + +&#x200B; + +BSCScan: [https://bscscan.com/token/0x5e90253fbae4dab78aa351f4e6fed08a64ab5590](https://bscscan.com/token/0x5e90253fbae4dab78aa351f4e6fed08a64ab5590) +Please thank u/WendoverProductions for the following video: [The Super-Fast Logistics of Delivering Blood By Drone](https://www.youtube.com/watch?v=bnoUBfLxZz0) + +The drones' blood deliveries help service Rwanda's hospitals, and Rwanda has a [Universal health care](https://en.wikipedia.org/wiki/Universal_health_care) system. How come Rwanda doesn't suffer the following problems with it?: + +* Overcrowding (unless the supply of medical care meets the level of demand) +* [Brain drain](https://en.wikipedia.org/wiki/Human_capital_flight) (i.e. why don't its medical staff leave for higher-paying countries) +* Lack of supplies (i.e. what happens due to a [command economy](https://en.wikipedia.org/wiki/Planned_economy#Planned_versus_command_economies) that grants free healthcare but lacks [hard currency](https://en.wikipedia.org/wiki/Hard_currency) to buy supplies) +* Budget deficit (surely, providing healthcare would be expensive, especially in a sub-Saharan African country dealing with high prevalence of HIV/AIDs and tropical diseases) +* Corruption and inefficiency (generally, you don't want to give too much of the economy to a government because they would become inefficient, or worse, corrupt) +I’ve head that your loss in currency and crypto markets = someone else’s gain by an equal proportion. I’m not 100% sure why this is the case, so any explanation on that is appreciated. I have thought maybe it is that currency is a measure of value that already exists and does not create value on it’s own, as any given % of the money supply will have the same value relative to the remaining % of money supply even if the amount of money changes or the amount of value it measures changes? (Maybe, I might be completely wrong) + +I just don’t really understand why people say that stock markets aren’t zero-sun gains. Is it possible for your gain not to be necessitated by someone’s loss to an equal degree? Maybe this is because stocks may be actual investments into firms allowing them to create value? + +Please correct any misconceptions I have. +I was on my way to turning this shitty year into something positive, but all my hard work is now being negated after being diagnosed with a brain tumor that has kept me out of work for 3 weeks now. My surgery is next week. If successful I will be out six more weeks minimum. + +After paying car note, insurance, rent, CC payments, and other daily needs, my funds are down to a frightening level. + +I know I can ask the CC companies if they could let me slide one month on payments for some relief, but I'm not sure if car lien holder and the insurance company will. + +Only income I have now is short term disability through my job, but I get less than half of my weekly wages. Monetary support from family members will be non-existent too. + +Any advise would be graciously accepted and well used. Thanks in advance and have a great day. + +Edit: Just to wanted to say thank you all for the well wishes. Will try to reply to all questions and will try all advice that is given. + +If anyone wants to know, the tumor is either a schwanoma or a glomus jugular that pushing on my brain stem, cerebellum, jugular vein, and carotid artery. + +Edit 2: Thank you for the awards as I have never had one. Also all the kind words are making this 48 year old man feel mushy. A feeling that I haven't had in several years. +I’m probably being a moron but if inflation is caused by money becoming less valuable, can’t the government just reduce the amount of money in circulation to make its value increase? + +What if the government sold a ton of assets to the banks. The banks would pay with cash. The government would then hold onto that cash, keeping it out of circulation. Money is therefore more scarce, making the value of any unit of money increase. + +I’m sure there is an obvious answer to why it isn’t as simple as this, but I know almost nothing about this stuff so would love to understand it if someone can ELI5. Thanks. +I see so many people trying to get people to join their trading group, or buy some book, or even just you tubers trying to make a channel. They claim to have such big wins and make a lot of money, but then why do they need you to give them more? I read a book about trading once that says don’t believe anyone who claims to have any magic trading method, because if they did they would be retired on a island not bothering you, and that is my initial thought as well. My only guess is a source of passive income, but still if they were doing so well that shouldn’t be necessary. Or possibly they just like the attention? Also there had to be some legit ones, and I’ve seen reviews on certain people, because they wouldn’t continue to make money off people if they didn’t really do well, especially since people can see what they are doing. What’s the deal with this? +Part of the MOASS theory is that many believe the U.S. would not screw over international brokers because the American stock market can not afford to have foreign entities lose trust in the system. Losing cashflow from these foreign brokers would be devastating. Lets take a look at what just happened. + +The DTCC blatantly lies to foreign broker about the nature of the GME split. They told the brokers just to issue shares as if its your everyday stock split. The problem is that many retail investors called thier brokers and asked them why it wasn't issued as a dividend like GME intended it to be. + +Foreign brokers looked into the issue further, and found that GME indeed issued the split as a dividend. These brokers then realized that they could potentially lose a lot of money by being responsible for 3 new shares that they could have to go out and buy on thier own. + +They realized the DTCC flat out lied to them and exposed them to risk they shouldn't have been exposed to. I would say this is a damn good reason to not trust the U.S. market! Im really interested to see whats going on BEHIND the scenes. These foreign brokers are pissed, im sure! + +The DTCC took one hell of a gamble lying to foreign brokers and crossing their fingers they wouldn't find out! + +This is about to get VERY INTERESTING. Don't think for a second that things arent going on with this issue that we don't know about. This is a big deal, and the DTCC shit to bed in a major way. Just sit back and watch Apes, this is bigger than screwing just american retailers over. +Welcome to the Daily General Discussion thread of /r/EthTrader. + +Find the latest Daily Altcoin Discussion thread by selecting the top result on this [search page](https://www.reddit.com/r/ethtrader/search?q=Daily+Altcoin+Discussion&include_over_18=on&restrict_sr=on&t=all&sort=new). + +*** + +The thread guidelines are as follows: + +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All sub rules apply here so please review our **[rules page](https://www.reddit.com/r/ethtrader/about/rules/)** to become familiar with them. The rules page is also linked in the announcement bar above. +- If the top page becomes overloaded with memes, all but the top two voted may be removed. If we need to remove a bunch of memes from the top page, post memes in this thread first and upvote the best so the mods know which ones to keep + +*** + + Resources and other information: + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! + +I collect food waste from near by businesses and households and breed maggots for the pet food industry. It’s disgusting, squeamish work but pays for my “beer” and dining out money. The food waste would otherwise go in landfill. I have calculated I’ve saved 1 metric ton of food in landfill last year. Don’t know what that is in kg greenhouse gas but it feels good to divert landfill waste. + +What’s your best side hustle? + +Edit: woah didn’t expect the thread to blow up like that! Thanks for all your suggestions. So diverse and interesting. Many facets and creative way how we make money on the side. I ❤️ this sub for it. + +Edit 2: yes they’re BSF larvae. Maggots were the closest thing most people understand without having to explain it. I actually do enjoy tending to my “colonies” as someone who loves bugs, recycling, reducing food waste, and making some money on the side. Certainly not done out of financial desperation. +I've spent so much time studying the market and what not. I've been on fire more often than not. Today I traded over 400K within a certain stock. I use Charles Schwab for the broker and made significant profit off these trades. + +All of the sudden I cannot execute trades anymore. Call the broker and got hit with a good faith violation with possibly a free ride violation in the account tomorrow. It's not guaranteed but I should know soon. Regardless, all the time I have spent studying the market I had no idea how much you could get burnt by the broker. I have a strong chance only settled cash trades can be executed for the next 90 days. If you're interested in day trading do all you're research and not just the market. I had no idea how much I could get shut down on my most profitable day ever by the broker. + +Edit (Full Details): https://www.reddit.com/r/Daytrading/comments/mn6bfx/updated_lesson_good_faith_and_free_ride/?utm_source=share&utm_medium=web2x&context=3 +Stellar diamond \[XLD\] is a community driven project with daily BNB rewarding process with the following features: + +⭐️Auto-claim rewards + +⭐️Claim Both BNB and XLD! (Can Set your % claim of both tokens so 100% BNB, 100% XLD and Any combination in-between) + +⭐️Gradual buy-backs & burns + +⭐️Anti-Dump +⭐️Custom dApps from experienced developers + +⭐️External BNB reward pool income sources + +⭐️Multiple pools to ensure steady rewards + +⭐️Higher sales tax (More BNB rewards!) + + + + +They say it takes intense pressure and heat to create 💎diamonds💎, and I can assure you that the team behind this project has provided both to create a one of a lifetime opportunity (not to be missed)! + + + +Stellar Diamond's main focus is to keep our rewards pool filled not just by tax but by several avenues such as shops and more to keep everyone claiming high rewards forever even if transactions are low. + +&#x200B; + +With an experienced team is behind the development of XLD that wrote the contract from scratch. Unique plans in the roadmap ensure that XLD keeps on rewarding investors for years to come. + +&#x200B; + +I had good feelings about other BNB reward coins and they did great, but the feeling I get about Stellar Diamond is far beyond any of those other ones, because: + +&#x200B; + +💠 Professional experienced developers (who wrote the contract from scratch! Not some copy & paste coin like the others, which means we will avoid their pitfalls - like the sell bot going haywire and selling off much more than it should have and creating pure red candles) + +&#x200B; + +💠 KYC registered successfully! (zero chance of rugpull - we do, you can come to my house) + +&#x200B; + +💠 Anti-whale (0.1% transaction limit - unlike others who just charge whales a price so they can still do massive sells and thus manipulate the market (press 'f' for paperhands), here those transactions will be rejected!) + +&#x200B; + +💠 LP tokens will be locked for 12 months! + +&#x200B; + +💠 Developers are incorporating community suggestions into the contract! (the devs love some community ideas so much they are changing some tokenomics that made other coins fail - for instance the auto-claim feature and lowering charity % and doing something to support the community itself) + +&#x200B; + +💠 Contract audit passed successfully! (that's right! The contract is already audited! Where most coins only audit after launch, Stellar Diamond team went above and beyond to get it done before even presale!) + +&#x200B; + +💠 Upcoming merch where profits will be fed directly into the reward pool + + + +💠 Intensive marketing plans (YouTube promotions, merch, TikTok and of course...memes!) + +&#x200B; + +💠 Unique development plans to ensure that the reward pool keeps on increasing from outside XLD + +&#x200B; + +💠 Voice chat open 24/7 - All questions are welcome 🙂 oh and for those who want to - bring all your fud and we will show you how strong and bright diamonds truly are! 😃 + +&#x200B; + +The sky is not the limit, the moon is not the limit, we're aiming for far beyond the stars! Join the presale now to receive your stellar diamond hand! + +&#x200B; + +Stellar Diamond is live on Pancakeswap - To buy go to [https://exchange.pancakeswap.finance/#/swap?outputCurrency=0xdaf4f11947e73f0eebef4a820f4be9b854aa993b](https://exchange.pancakeswap.finance/#/swap?outputCurrency=0xdaf4f11947e73f0eebef4a820f4be9b854aa993b) + +&#x200B; + +&#x200B; + +🌐 Website: [https://stellardiamond.net/](https://stellardiamond.net/) + +📝 Whitepaper: [https://docs.stellardiamond.net/](https://docs.stellardiamond.net/) + +📳 Telegram: [https://t.me/StellarXLD](https://t.me/StellarXLD) + +📱 Twitter: [https://twitter.com/XLDStellar](https://twitter.com/XLDStellar) + +🖥 Discord: [https://discord.gg/2VFc6EKrt2](https://discord.gg/2VFc6EKrt2) + +&#x200B; + +&#x200B; + +KYC: [https://twitter.com/SolidProof\_io/status/1403707952779907077](https://twitter.com/SolidProof_io/status/1403707952779907077) + +Audit: [https://github.com/solidproof/smart-contract-audits/blob/main/SmartContract\_Audit\_Solidproof\_StellarFinance.pdf](https://github.com/solidproof/smart-contract-audits/blob/main/SmartContract_Audit_Solidproof_StellarFinance.pdf) +*Let's look at active managed ETFs versus passive ETFs and see if there are any investment opportunities.* + +*Can the current batch of Active ETFs beat the returns of passive index funds?* + +***Is there any other ACTIVE ETFs besides ARK Active Funds?*** + +***Quick answer and spoiler alert: BLOK*** *is the only ACTIVE ETF to consider outside of ARK ACTIVE funds. But BLOCK is* ***currently overbought with 23% price returns over past 5 days and 102% over 13 weeks.*** RSI is above 70 threshold. + +***Passive ETF investors believe it's difficult to outperform the market.*** + +*Many investor are not content to settle for passive index average returns and look at active managed ETFs for boost in returns.* + +There are 2403 ETFs & ETNs in the universe today. There are only 136 ACTIVE ETFs in equity investments compared to 1016 passive ETFs in equities. + +There are only 19 Active equity EFS trading above 90 day average volume of 55K shares. These 19 active equity ETFs only make up only 2% of the total ETFs available in equity investment category. (19/(1016+19)= 1.83% + +***No surprise, the Active ARK Funds dominate the Active ETF landscape today.*** + +ARKF, ARKG, ARKK, ARKQ & ARKW all have 1 year returns 107% to 214% range. The 13 week returns are in the range of 43% to 58%. + +*ARKK is the flagship of ARK funds which contains all the other ARK funds. ARKK has 29% of ARKF, 30% of ARKG and 25% of ARKQ and 58% ARKW.* + +The long term returns on ARK funds are also impressive, the 3 year return rates; ARKG = 57%, ARKW =53%, ARKK = 52%, ARKQ = 36%, ARKF inception date is 2/1/2019 and doesn't have 3 year returns. + +*ARKK compared to Passive Index return rates over 5 years: ARKK = 54.5%, QQQ= 25.9%, VOO = 16.1%, VTI =16.75%.* + +***ARKK and ARK ETFs out perform the stock market indexes over short term and long term.*** + +***But for how long?*** *ARK Funds have cash inflows of $12.% billion for 2021. High cash inflows could be a problem for the ARK funds management team.* + +***It there other active EFTs trading above 55k 90day average volume beside ARK funds?*** + +There are the 3 cannabis active ETFs, CNBS, MSOS and YOLO. These are focus on cannabis market and have high recent returns. + +After eliminated the 3 cannabis ETFS and the 5 ARK active Funds we are left with only 5 active ETFS with the selection criteria of 13 week returns greater than 16% and 90Day average volume greater than 55K shares. + +***5 Active ETFS (besides ARK and Cannabis):*** + +1. **BLOK-**Global Blockchain technology (driving bitcoin) Active ETF, 90 day volume 408K, expense ratio 0.7%, 59 holdings, top ten 38%, returns are **23% last 5 days, 102% last 13 weeks**, 107% last 1 year. This ETF is way over bought over with 23% pop over last 5 days. RSI is at 77.1 breaking RSI threshold of 70. Wait for pullback before jumping in on this ETF. ***BLOK beats the passive ETFs KOIN, BLCN and LEGR in same sector and is outperforming them all.*** +2. **FBCG,** Fidelity Blue Chip growth Active ETF, 90 day volume 180K, expense ratio 0.59%, **22% return over 13 weeks compared to QQQ at 15.7% over 13 weeks** and IWF 12.4% over 13 weeks. Inception date less than 1 year, Inception date of 6/2/2020 focus on global growth stocks. It's not transparent on daily holdings, but has 30 day lag on last monthly holdings. Too early to tell on this active ETF. +3. **AVEM-** Emerging Market Active ETF, 90 day volume 65K, expense ratio 0.33, 1 year return rate of 25.5%, **lags behind passive IEMG 1 year return 28.9%.** +4. **AVUV-** US small caps value Active ETF, 90 day volume 59K, expense ratio 0.25%, the 1 year return rate of 22.6% ***lags behind the passive IWM at 29.9% return 1 year.*** +5. **SECT-** Sector rotation Active ETF, 90 day volume 56K, expense ratio 0.80%, 1 year returns at 18.8%, ***lagging behind passive IWF 34% returns over1 year.*** + +***Summary:*** + +* ***BLOK is the only ACTIVE ETF to consider outside of ARK ACTIVE funds.*** *But BLOCK is currently overbought with 23% price returns over past 5 days and 102% over 13 weeks.* RSI is above 70 threshold. + +***Technical boring stuff below for more details:*** + +***Passive ETF investors believe it's difficult to outperform the market***, so they target to match the entire market performance rather than trying to beat it. The index cycle rebalancing allows winners to grow and losers to be reduced in the index. More Tesla added and less United Airlines on rebalance. + +Passive ETFs should have lower expense fees because the EFT replicates a designated broad index (S&P 500) or specific sector (SOXX). The ETF fund manager mirrors the stocks mix of the ETF index or sector. Not much decision making by the manager. Passive ETFs have rebalancing cycles but overall less trading and low cost and low tax impacts. Passive ETFs are great for BUY and HOLD investing because of low fees and low tax exposure. However, the passive ETFs lack flexibility and some ETFs are heavy-weight to highest value cap stocks in index. + +***Many investor are not content to settle for passive index average returns and look at active managed ETFs for boost in returns.*** + +The active ETF manager has a full range of tools not available to the passive ETF manager in an attempt to deliver high returns compared to index. The active EFT manager can pursue an investor objectives without the limitations of strict required blend of index with passive investing. All the active stock trading strategies can be used, such as market timing, short selling and buying on margin. + +A problem with active managed ETFs is transparency and arbitrage. Arbitrage occurs when the active ETF value is at a premium compared to the existing ETFs holdings, then traders can short the EFT and purchase EFT stock holding on the open market. If the ETF is under value, traders can come in and do the opposite. This is risk-free profit for the arbitrage traders taking advantage of the active ETF price difference to overall holdings. + +If the active ETF discloses holdings more frequently, this action creates better fair value of ETF and reduces arbitrage trading. But a new problem arises on full disclosure on holdings. There no reason to buy the active ETF funds and pay fees, let the fund manager do all the hard work and and buy the same stocks. +I'll try to keep this short. + +My aunt somehow convinced my grandma to go to the bank and open a credit line of $11K. She cosigned because my grandma makes barely anything ($300/mo). The aunt used it for a couple years and took her name off recently. + +We just looked at the statements because we found out it was maxed with a $400/mo minimum payment. Grandma can only pay $300, mind you. The statements were all made on the aunt's card, with some obvious proof (based on amounts and shopping locations) that she was the purchaser. + +I just found out about this unfortunately. The aunt has refused to pay a dime because she's not on the credit line anymore. + +Is there anything that can be done? I'll appreciate any advice I can get. + +Edit: New stuff I've learned. There may be other documents signed by papa, who does have dementia. We don't know what he signed, because he doesn't know what he signed, or won't tell us. This is now the bigger red flag IMO, I'm thinking life insurance or something else monetary. He gets very angry about everything, and hasn't told the family what he signed, but I really just want to see this through and make sure that rights are made right. + +These are my spouse's grandparents, who are both elderly, and have worked all their life to make very little at the end, with their daughter taking full advantage and riding off into the sunset thinking all of this is okay. I don't want to see them go through this. + +This is all occurring in the state of Washington. I have plans to contact the WA DSHS (Social and Health Services). If it goes to the authorities stage, it will be initiated by them. + +Edit 2: Reading the comments, it's obvious now that "cosigned" is the wrong verbiage. The banks would not allow this. Which means that the aunt was just using the card, somehow "authorized", and that still doesn't sound right. + +I'm working on convincing the affected parties to prepare for Monday. The aunt footing the bill has already given up her life goals due to how much is owed on this card that her mom can't pay. Shitty ass aunt dumped her mom to her other sister after she was done with her, and she is in grandpa's ear like Jafar or some shit. She was taking him to the city to sign papers, and nobody in the family was aware of what was signed. Nobody wants to step on toes, which is fucking silly to me. + +I will use all my energy to ensure this gets right. +It gets even more tempting when considering marginal tax rates. You make more money on a Monday (lower marginal tax rate) than you do on a Friday (highest personal rate). + +Example: +Let's say you make $1500 a week gross, $1200 net, and your top marginal rate over the last 300 USD of the week is 30%. In this scenario you would make (0.70 * 300) / 1200 = 17.5% of your income on Friday. In other words, working a day less costs you 17.5% of your income in exchange for 50% more weekend. 50% more days where you can wake up without preparing for work. 50% more days where you don't have to worry about going to bed on time. + +It will set you back on your financial journey, but if the end goal of your financial journey is to have time and freedom, is it really setting you back? +We know what you did + +We know what you’re doing + +Enough apes in a room finally wrote Shakespeare’s Macbeth and you’re surprised? + +Stop wasting money covering up your mistake. You work in a risky business and you’re acting like a toddler who lost his binky, but it’s obvious you’re running out of energy. + +Pay us our money. We’re ready for this to end whenever you are. + +The fact is, we can drag our knuckles and eat bananas longer than you can stay solvent. That’s not a hope, that’s not a request. We can continue to wait and watch your lives crumble, your families leave you, your reputations dragged through the mud. + +We don’t care about you because you don’t care about us: We are dumb. We aren’t on the inside. We don’t *really* know how it all works. We are poor, meme-obsessed millenials who don’t work a day in our life, right? Wrong. + +You don’t contribute to our society in any real way. Your cocaine-fueled imagination is not a gift to society. You aren’t smarter or stronger than us, you’re just high as balls, self-important, and lack common human decency. You’re willing to break the rules at the expense of others and that’s all. + +Me and my fellow apes want the GAME TO STOP. We like the stock, and we don’t believe you should have the power to kill companies with impunity, especially ones that prove they can utilize a second chance. We don’t believe you should sell things that you can’t deliver because that’s common fucking sense. + +You can do it whenever you want, so do it today. Pay me. +Hey everyone, + +this is the third time I have had to repost this because....moderators. + +Anyways, lets try this again. + +I have created a trading bot that takes advantage of the Thinkorswim scanners and alerts system. + +If you are like me, I like the ease of use and power of developing strategies with Thinkorswim. + +Unfortunately, there is no direct way through TDAmeritrade's API to check for stocks that may meet a strategies entry or exit criteria, atleast a way thats effective. + +That being said, I have developed a way to use the TOS alerts to algotrade. + +Here's how it works (in a nutshell): + +1. I create strategies in Thinkorswim using thinkscript. +2. I then create scanners for those strategies. +3. I then set alerts for the scanners. +4. If symbol populates inside scanner list, an email is sent to a specific, non-primary gmail address. +5. Then, my trading bot, which is continuously scraping the gmail account, finds the alert, picks apart the needed data, and trades accordingly. + +Here are the links to my Github to make the moderators happy: + +[https://github.com/TreyThomas93/python-trading-bot-with-thinkorswim](https://github.com/TreyThomas93/python-trading-bot-with-thinkorswim) + +[https://github.com/TreyThomas93/python-trading-bot-with-thinkorswim](https://github.com/TreyThomas93/python-trading-bot-with-thinkorswim) + +[https://github.com/TreyThomas93/python-trading-bot-with-thinkorswim](https://github.com/TreyThomas93/python-trading-bot-with-thinkorswim) + +[https://github.com/TreyThomas93/python-trading-bot-with-thinkorswim](https://github.com/TreyThomas93/python-trading-bot-with-thinkorswim) + +I've been using this program since last October, and without giving details, I can vouch that it works and is profitable. That being said, this program is only as good as the strategies you create. Results may vary. I am not liable for any profits or losses, and algotrading is very risky, so use it at your own risk. + +There are almost 1500 lines of Python code, and it's to complex to post here. Therefore, visit my [repo](https://github.com/TreyThomas93/python-trading-bot-with-thinkorswim) for a very elaborate and detailed explanation on the ins and outs of this program. You most likely will have questions, even after reading the README, but I am more than willing to answer any questions you have. Just contact me via Reddit, Github, or email. + +Thanks, Trey +TL;DR: We're all outliers for working towards FIRE, stop gatekeeping FIRE because of another person's salary/life not being realistic/relevant/representative for the general population. + +> "First they came for the techbros, and I did not speak out because I was not a techbro..." + +All joking aside, we all know that there's been a lot of push back against the common techbro path to FI and milestone posts where people don't have college loans. + +But it's to the point where this is the top comment on a post right now: + +[“My story is common and pretty straightforward” Has half a million dollars at 27. Lmao this sub is such a joke]( +https://imgur.com/a/rFhxlct) in response to ["TLDR; Didn't pay for college. Good income for 4 years with <20k a year spend due to job perks and LCOL. Early investing and the recent bull market means I've pretty much doubled every dollar I've saved already."](https://old.reddit.com/r/financialindependence/comments/ovmbfo/494k_at_27_and_slowing_down_on_fi/) + +And where people have to put trigger warnings on their threads like ["Disclaimer/Warning – I made my money in the tech industry with a higher than average wage. I know this is not fair and this triggers some people, please move on if you are not interested in on progress of a high wage-earner executing FIRE."](https://old.reddit.com/r/financialindependence/comments/oq5zs3/one_year_later_check_in_graph_m_39_net_worth_26m/) + +A lot of criticism I've seen over the years is that these stories aren't realistic/relevant for the general population, incomes are unachievable/multiples higher than average incomes, that OPs had their college paid for... + +**But retiring early itself is not something the average person does in the first place.** FIRE isn't realistic/relevant for the average person. The average retirement date in the US is around 65 years old. A lot of users here are outliers just by our goals. So why criticize the validity of user's content due to their salary? Why gatekeep FIRE to only below X salary and X careers? + +Other people's successes don't diminish your own; the world isn't a zero sum game, their salary doesn't detract from yours. We're all just waging and saving for our own FIREs. + +Even /r/leanfire agrees: +["You can have any salary and work towards leanfire."](https://old.reddit.com/r/leanfire/comments/ov1p2o/why_are_all_these_new_posts_from_people_making/h76b6rw/) + +If you don't think a post is relevant or interesting, just ignore it. No need to post a comment to diminish another person's journey, even if you don't think it's an achievement. + +Disclaimer: I make $72k as a civil engineer. My FIRE journey is boring AF and will take a long ass time. I like reading other people's journeys as long as their charts are nice. +This is not a hate post, but rather an exploratory one. + +My dad is 60 years old. He has about 6 close friends, who all retired before 65, who are on a defined benefit super scheme. He retired last year at 59 on $100k a year on this scheme, and his friends also retired on similar figures. + +For all those who are unfamiliar with the scheme- it was basically a super scheme that was started a few decades ago now that stipulated that people who worked a certain amount of years were guaranteed a percentage of their income for life. In other words, if my dad lives til 101 he will be getting $100k every year until he dies. + +Which returns to my question- how are we going to manage the cost of baby boomers retirement? Given that the average age of death is rising every year, this cost is going to be enormous. What sorts of things do you think we can expect from the government regarding this in the future? +**Hello Fellow Apes,** + +I am writing this post to let Apes know that I was able to follow-up through the SEC and the DTCC on **SR-DTC-2021-005** and to the follow-up on work in my initial post [here](https://www.reddit.com/r/Superstonk/comments/mzkf8v/where_is_srdtc2021005/), and providing you now with the status update I received. + +**I would also like to report that the SEC and the DTCC once again were very gracious and timely in their responses.** + +For those not familiar with **SR-DTC-2021-005 and what it does.** + +**In short, SR-DTC-2021-005** would limit the ability of market makers and hedge funds working together to reset FTD transactions and/or conceal short positions through nefarious options trading. + +There are some great DD's on this rule by [u/bigbrainbets](https://www.reddit.com/u/bigbrainbets/) ; [u/lighthouse30130](https://www.reddit.com/user/lighthouse30130/), and others, and good follow-up work by [u/kamayatzee](https://www.reddit.com/u/kamayatzee/) . + +DD's: + +[THE MOASS WON'T HAPPEN UNTIL OPTIONS ARE NOT REGULATED: DTC-2021-005 JUST CHANGED THE GAME](https://www.reddit.com/r/GME/comments/mibedc/the_moass_wont_happen_until_options_are_not/) + +[Legal Interpretation of the Proposed SR-DTC-2021-005](https://www.reddit.com/r/GME/comments/mi8mo9/legal_interpretation_of_the_proposed_srdtc2021005/) + +Now, + +Below is the chain of communication between myself , the SEC, and the DTCC on the whereabouts of SR-DTC-2021-005. + +**TL:DR** + +**SR-DTC-2021-005. was reviewed by the SEC. The filing is currently being finalized for filing at the DTCC. It will be filed shortly. And once it is filed, it becomes effective!!** + +When the rule is filed it will be posted here with any other DTC rules on the DTCC website [https://www.dtcc.com/legal/sec-rule-filings.aspx](https://www.dtcc.com/legal/sec-rule-filings.aspx) + +**Again, This post is only about the status of SR-DTC-2021-005.** + +&#x200B; + +https://preview.redd.it/6ckazl3i49071.jpg?width=2706&format=pjpg&auto=webp&s=c22da480249870934ddf79f7b9a78b8561f282d2 + +We are continuing to make progress Apes, Let's keep it going. **Only Diamond Hands need apply.** 🦍💎🙌💎🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 +I've been investing for about 30 years, and have even used options now and then. But I was mostly a buy and hold type of value investor so didn't look too much at the options market. + +In the last 2 months, I got interested in thetagang techniques and tried it out with part of my IRA, mostly with cash-secured puts (CSP) to open up wheels. Here's some of my initial lessons learned: + +* **Manage your buying power**. It can be misleading how much liquidity you have, because much of your large cash balance will be tied up in cash-secured puts. Every week, look over your positions and free up buying power for positions that don't have much time value left in them. +* **Stock selection matters** more than high implied volatility (IV) or even IV rank. I naturally gravitated to solid companies that I already knew, and in general, those worked out well. For the 2 cases I went with high IV stocks (SQ, TSLA) those didn't turn out so well - had to eat some losses to get out. +* **Dump stocks you don't want after assignment.** If you're assigned a stock that you really wanted, no problem, start the wheel and sell out of the money (OTM) call options. However, if you're assigned a stock that you didn't see owning long-term (maybe you got attracted to the juicy IV), sell an in-the-money (ITM) call option at (0.7) delta. Would you have sold a -0.7 delta ITM put option to open a new cash-secured put on that stock if you didn't already own it? That's the equivalent of owning the stock and selling a 0.3 delta OTM call. +* **Timing matters for CSP entry.** Have some type of technical system for entry into the cash secured put (CSP) leg of your wheel. It could be as simple as selling CSP on a red day, or when it's over the exponential moving average, or whatever technical system you favor. It becomes harder to profit on the wheel if the underlyer reaches the strike in the first 2 days. +* **Avoid low-priced stocks**. If the stock is less than $20, you'll have a hard time managing your position because the strikes will be in $1 increments on the monthlies. This is a problem because not only do you have a harder time with targeting delta levels, the bid-ask spread on the option is wider because the market can't arbitrage the difference between the bids and asks up and down the options chain. +* **Track your position and performance**. Set up a worksheet so you can always see where your buying power usage, percent of max profit, P&L (realized and unrealized), underlyer relative to strike, and days to expiration at a minimum. I'm running positions on about 15 stocks, and it would be impossible to stay organized if I didn't have this. I use Excel on Onedrive which has the nice feature of integrated stock price feeds, and it's easy to learn. +* **Be patient**. I haven't optimized my theta generation relative to capital, so my raw theta per day is 0.13% of the portfolio value. That may not seem like much, but multiplied by 250 trading days, that's 33% a year. Now, I'll probably lose a decent chunk of that to managing losing positions (I've read 25-50% of that), but that would leave a theta gain of 16-25%, significantly more than my expectations of basic buy-and-hold. + +I screwed up a lot in my first 2 months but got lucky and ended up with a P&L that was positive by 2% over 2 months, with the first month not having much capital deployed because I was getting set up and having a few beginner screwups. + +I hope this helps other semi-newbies, and I'm always open feedback from those with more experience. +I am a newer investor just at 4 doors so far. I am very excited and passionate about real estate investing. However it seems everyone besides fellow investors have absolutely nothing nice to say back to me when I tell them what I am doing. + +The main two responses I get from people are mostly the negative “I hope your handy”, “I had a rental once blah negative blah”, “what if you get bad tenants” responses. The other response is people make me feel like I’m bragging when I simply am telling them what is going on in my life. + +It’s just disappointing to me because I really would love to be open to my friends and family about what I do, but I’ve come to a point that I’d rather just leave the thing I’m most passionate about out of the conversation. + +Am I alone here? +I’m from the UK so I’ll use Trading 212 as an example of a “zero fee” trading platform, and Hargreaves Lansdown as a decent example of a more traditional platform with fairly reasonable fees. + +What is it that the “traditional” platforms offer that warrants the higher fees? + +I understand that you don’t officially own the stocks you buy into on trading 212 (in their words “they own then for you” - not really sure why other than to offer fractional buying power which isn’t offered in the isa section of the app) but I can’t really see the harm in this unless you have a total investment porfpholio value over the £80 000 mark (for insurance reasons). + +I’m currently with a traditional platform but their forex and buying fees are pretty substantial and I’m struggling to find a negative for moving across to trading 212 to maximise returns. + +I’m not acting as a trader as such, I’m just trying to utilise the formula offered by the little book that beats the market (good book, interesting method, would recommend), and therefore want to diversify across approx 30 stocks per year, meaning the traditional platform prices itself out of the market. + +I understand that the “zero fee” platforms gain revenue from the splits they offer on buy/ sell figures, but having done some paper investing on both platforms the charges in the traditional platforms significantly outweigh the zero fee platforms... + +Can you guys help? Am I missing something here? +**Update** + +TL:DR + +Ken Griffin is spending lots of money on a guy to become governor who helps support his criminal enterprise and his friends especially this year because they are gonna be fucked soon. Ken has a history of not caring what party they are from as long as he can keep making money with nobody bothering him. + +TL:DA + +Ken is fuk but need guy to be in charge of state to try and make fuk go away but not gonna work because we gain wrinkle. + +Definition of a Front Company + +“This is a term used for an entity, be it an individual or group or organization used to inhibit the identification of an owner or member of another company or organization. In legal proceedings, it is often identified as a cover used to conceal illegal activities. It can be a subsidiary or shell company of a larger company. It is almost always used to hide another company or individual from liability, scrutiny, or negative press.” + +https://thelawdictionary.org/front-company/ + +He is throwing a lot into this. + +“Billionaire Ken Griffin announced Monday that he is donating $20 million to Republican Aurora Mayor Richard Irvin's campaign for governor.” + +It’s okay guys, nothing to worry about . + +“While $20 million may seem like a lot, Griffin's donation is an equivalent portion of his overall net worth as a typical American household donating $88 to a candidate.” + +Funny enough they didn’t bother doing a comparison with his other donations that included stopping a plan to increase taxes on the rich. + +“Griffin has been a financial driving force for conservative politics in Illinois in recent years. State records show that Griffin donated $36 million to former Gov. Rauner's campaigns as well as $53.75 million to the "Coalition To Stop The Proposed Tax Hike Amendment." That organization aimed at defeating a proposed 2020 constitutional amendment to allow the state to institute a marginal income tax structure, like the federal government. The measure was ultimately rejected by voters.” + +https://www.sj-r.com/story/news/politics/state/2022/02/14/ken-griffin-gives-20-million-richard-irvins-illinois-governor-bid/6783073001/ + + +““Richard understands the importance of making business people know that he understands the joint prosperity that comes with a successful business community,” Griffin said in an interview published in February by the Better Government Association. He likened Irvin to Richard M. Daley, Chicago’s Democratic mayor from 1989 to 2011, who was supported by the city’s traditionally Republican business community. + +“The mayor made clear that he had my back, that I could be comfortable making the investment in infrastructure, in talent, and in building Citadel,” Griffin said of Daley in that interview. “I know with Richard Irvin I’m going to have that feeling again.” + +https://www.chicagobusiness.com/government/why-ken-griffin-picked-richard-irvin-illinois-governor + + +““Conspiracy theories aside, Ken’s support for Richard Irvin is solely based on the belief that Mayor Irvin is the best candidate to tackle the severe problems facing Illinois,” a Citadel spokesperson told Bloomberg.” +Sure it is. + +Here is basically what Irvin did + +“Irvin heavily backed Scientel’s effort to build a controversial communications tower reportedly used for high frequency trading over the objections of a competitor and members of Aurora City Council. Critics say Irvin strong-armed aldermen to back the Scientel tower. The council eventually reversed a previous vote and allowed Scientel’s tower to be built.” +https://news.wttw.com/2022/04/21/ken-griffin-s-trading-firm-tied-company-aided-richard-irvin-report + + + + +The CEO on Scientel is a reportedly a friend of Irvin and some time after the case got settled this happened. + +“Its chief executive officer, Nelson Santos, is a friend, according to a person with direct knowledge of the matter. In June 2019, the mayor, a Scientel executive and several other people flew to Puerto Vallarta, Mexico, on a private plane, according to the flight manifest. + +Scientel, Santos and others associated with the company have donated at least $135,500 to Irvin and a political fund run by his former campaign manager, WTTW, the Chicago Public Broadcasting Service channel, reported in March. Many of the donations predate Irvin’s run for governor, state records show. Scientel, meantime, has received millions of dollars’ worth of contracts from Irvin’s city, according to WTTW.” + +https://www.chicagobusiness.com/government/why-ken-griffin-picked-richard-irvin-illinois-governor + +Article showing that the case was settled in May 2019 +https://www.datacenterdynamics.com/en/news/cyrusone-and-scientel-settle-court-case-over-high-frequency-trading-tower/ + +Also this candidate for governor divorced his wife just before announcing his run for governor and this story comes out . She also had donated to his campaign too. + +https://news.wttw.com/2022/04/05/richard-irvin-s-ex-wife-hired-development-firm-receiving-millions-aurora-city-incentives + +“The ex-wife of Aurora Mayor and GOP gubernatorial candidate Richard Irvin works with a development team that stands to receive up to $15 million in Aurora city incentives, with the potential for millions more. + +Crystal Rollins is listed as director of business development and strategy for JTE Real Estate Services, which says on its website it does construction management, property acquisition and development, and property management for the $128 million redevelopment of the city’s long-vacant former Copley Hospital. JTE is part of a group of companies called Fox Valley Developers that came together to land the redevelopment deal. + +JTE is run by Irvin’s former mayoral campaign treasurer Michael Poulakidas. Through a spokesperson, Poulakidas said Rollins joined the company in a full-time position in mid-March and “has had no role in our Aurora-based projects.” + +All the projects currently listed on JTE’s website are Aurora-based.” + +Real convenient for Griffin to have a guy who supports not only High Frequency Trading but also has a connection to real estate in an area frequented by his cartel. + +More on Scientel and Citadel connection. + +“After the WTTW News report on the relationship between Scientel and Irvin – and industry rumors reported by Bloomberg that Scientel and Citadel worked together – a Citadel spokesperson told WTTW News the company did not use Scientel’s tower. + +But in Thursday’s story, Bloomberg reports that Scientel has placed communications equipment on another company’s nearby structure – and cites someone with direct knowledge of the deal who said Scientel’s antenna was only used by Griffin’s firm.” + +https://news.wttw.com/2022/04/21/ken-griffin-s-trading-firm-tied-company-aided-richard-irvin-report + + +A quote from conversations between people at the companies + +“Scientel isn’t part of Citadel, but competitors have suspected for years that they work together. + +Those inklings are borne out by an email between the two. Shortly after Scientel bought the land in Aurora in 2016, two of its executives received an email from a person they were working with at Citadel Securities. The network they’d built together was beating the competition, the sender wrote, and a Citadel boss was impressed. + +“We absolutely can’t f*ck this up,” the email from Citadel Securities reads. The goal for Griffin’s firm was to “position ourselves to build a lot more.”” + +And another lie to the pile for Ken +“Citadel Securities, in a statement, said it “has not had any engagement with Richard Irvin on any aspect of its business.” + +https://www.chicagobusiness.com/government/why-ken-griffin-picked-richard-irvin-illinois-governor + +More information on the use of the tower that implies others as well in on Citadel’s scheme. +“When asked in a written question if it was accurate that Citadel Securities was utilizing Scientel’s tower for high frequency trading, Santos wrote back, “that is not accurate,” going on to say that the company does not disclose all of the tower’s uses. Santos would not return follow up calls asking him to clarify his answers. + +CyrusOne’s tower is reportedly used by large trading firms like DRW Holdings, Jump Trading LLC and Virtu Financial.” +https://news.wttw.com/2022/03/28/aurora-company-donated-big-richard-irvin-s-mayoral-campaign-received-millions-city + +Since Virtu Fiancial has been covered before here I will give some background on the other two for anyone who wants to dig more into these. + +Jump Trading + +“Jump Trading was founded in 1999 by two former pit traders, Paul Gurinas and Bill Disomma, who met in the Deutsche Mark pit at the Chicago Mercantile Exchange (CME). While the firm got its start in the open outcry pits, Jump Trading does most of its trading electronically” + +Interesting events in the company history + +“Following the 2010 flash crash, Disomma, Gurinas, and COO Matt Schrecengost met with CFTC chairman Gary Gensler to discuss the definition of spoofing as a disruptive trade practice as well as transparency and access to SEFs. This meeting contributed to regulatory efforts to implement new market rules stemming from the Dodd-Frank Act. + +In April 2014, Jump was one of six high-speed trading firms subpoenaed by New York Attorney General Eric Schneiderman regarding their trading strategies, as well as the special arrangements they may have with exchanges and dark pools. + +In May 2018, Jump was fined $250,000 by the Securities and Exchange Commission (SEC) due to a malfunction in one of its trading algorithms leading to the accidental accumulation of a short position worth hundreds of millions of dollars.” + + +https://en.wikipedia.org/wiki/Jump_Trading + + +Interesting thing they started to plan that got reported last August +“Jump Trading Group, one of the world’s largest high-frequency trading firms, will launch a unit that executes stock orders for individual investors, a business that has grown more lucrative for electronic traders as meme-stock mania has fueled a surge in U.S. retail volumes. + +Executives at Jump told The Wall Street Journal that the firm is setting up a so-called retail wholesaler business. Wholesalers fill buy and sell orders for the customers of online brokerages such as Robinhood Markets Inc. HOOD -2.82% and TD Ameritrade.” + +https://www.wsj.com/articles/high-speed-trading-firm-jump-to-execute-retail-investors-stock-trades-11628760601 + +DRW Holdings + +“DRW was founded in 1992 by Don Wilson, an options trader at the Chicago Mercantile Exchange, and was named after his initials: DRW. The firm utilizes a variety of different strategies, including high-frequency trading, and was a notable subject in Michael Lewis's 2014 book Flash Boys, which describes how several trading firms compete with each other to purchase and establish infrastructure that allows trading advantages at the sub-nanosecond level (latency arbitrage). + +The firm has been the subject of at least one lawsuit by financial regulators. The Commodity Futures Trading Commission, or CFTC, sued Wilson in November 2013 for alleged market manipulation in interest-rate swap futures during 2010 and 2011.The case was dismissed in December 2018 after the court found no evidence of market manipulation by DRW. + +DRW has engaged in the acquisition of several other trading firms and asset portfolios. In 2008, during the collapse of investment bank Lehman Brothers, DRW purchased Lehman's foreign exchange, interest-rate derivatives, and agricultural derivatives portfolios in a fire sale auction.” + + + +Here is history of this CME Building that I have adapted from a comment I did in a [another post](https://www.reddit.com/r/Superstonk/comments/sgaacz/how_would_we_know_if_citadel_was_no_longer_the/huvm5cx/?context=3). Please note I am censoring a link because the first time I posted the original comment it got removed by the automod and I had to message the subreddit mods to get it unbanned. Just check out the comment there to check out the source. + + + +So there's a documentary called ["Wall Street Code"](https://youtu.be/kFQJNeQDDHA?t=1077) and they showed the high frequency trading facilities for the CME(Chicago Mercantile Exchange) in Aurora Illinois that citadel is a part of. + +In a documentary called ["Flash Crash"](https://youtu.be/aq1Ln1UCoEU?t=648) by the makers of "Wall Street Code" they go over how these exchanges have back ups and back ups for the back ups. + +Found this regarding CME and Citadel that I found interesting considering the timing around the market crash in 2008. +https://www.cmegroup.com/media-room/press-releases/2008/10/07/cme_group_and_citadeltolaunchthefirstintegratedcreditdefaultswap.html + +"As a fully integrated trading and clearing solution, the joint venture will provide the following benefits to market participants: + +-- Enhanced liquidity through standardized contracts with fixed coupons for all the leading CDS indices and their underlying single-name components, with OTC market conventions, including credit event procedures; + +-- CME Group's well-established clearing, settlement and risk management capabilities with Citadel's state-of-the-art technology for price discovery, matching engine, and risk management analytics; + +-- Facilities to convert existing bilateral trades to standardized contracts and straight through processing into CME Clearing, reducing bilateral credit risks, outstanding notional balances and capital requirements while providing more flexibility for trading in and out of existing positions..." + + + There’s a history of acquisition with that[ CME building in Aurora to CyrusOne](http://investor.cmegroup.com/news-releases/news-release-details/cme-group-announces-agreement-sell-aurora-ill-data-center). + +Excerpt on the deal + +“As part of the sale, CME Group will enter into a 15-year lease for data center space and will continue to operate its electronic trading platform, CME Globex, from the data center and will offer co-location services there. CME Group will have the ability to expand co-location services within the leased space going forward. The agreement also outlines the ways in which CyrusOne and CME Group will enhance the range of services available to their mutual customers through connectivity, hosting and data offerings” + + CyrusOne(CONE) got bought out and taken private by [KKR&CO &Global Infrastructure Partners on November 15 2021](https://www.reuters.com/business/kkr-global-infrastructure-partners-buy-cyrusone-15-bln-deal-2021-11-15/) + +And for those wondering when Ryan Cohen tweeted the Cone image on February 24 [this](https://investor.cyrusone.com/news-releases/news-release-details/cyrusone-brings-ibm-public-cloud-connectivity-london-i-data) had occurred with CyrusOne on that day but if anybody else finds anything related to it please let me know. + +From the article I linked +“LONDON--(BUSINESS WIRE)--Feb. 24, 2020-- CyrusOne Inc. (NASDAQ:CONE), a premier global data center real estate investment trust (REIT), today announced the introduction of IBM Cloud Direct Link to its London I data center facility in the U.K., near Slough. This news follows existing deployments in the US and Germany, where customers are already benefiting from dedicated, secure, reliable and low latency network connections to the IBM public cloud, often as part of hybrid strategies integrating seamlessly with their own IT infrastructure.” + +So anyway [I found this chart](https://cheaperthanguru.com/portfolio/ken-griffin/KKR/transactions) by Kenneth Griffin with history with the stock ticker KKR. Which shows what looks a like a 7 million pump and dump in 2019. + +This was also filed September 1 2021 for what seems like acquisition of over 7 million shares so could another one happen to it in the future?. +https://www.sec.gov/Archives/edgar/data/1423053/000110465921115065/tm2127490d1_sc13g.htm + +Maybe I’m too smooth brained but if anybody has anything to add on this also please do. + +Henry Kravis and Kenneth Griffin have known each other for years both attending [art galleries](https://observer.com/2015/02/billionaire-hedge-fund-ceo-ken-griffin-donates-10-million-to-the-mca-chicago/) and [major conference before the lockdown](https://www.seo-usa.org/news/seoaicon2020/) . They are also [neighbors in the Hamptons in an area called Meadow Lane](https://nypost.com/2021/10/07/inside-the-billionaire-battle-for-real-estate-s*pr*m*cy-on-meadow-lane/). They have even seen with [Oprah at events](https://www.advisorhub.com/oprah-charms-wall-street-power-lunch-kravis-black/) + + +“Winfrey will get more time with business leaders in May, when she chairs the Robin Hood Foundation benefit, a gathering of about 4,000 people from top banks, hedge funds and Fortune 500 companies. Winfrey attended the event last year, sitting with Kravis and Ken Griffin.” + +[Skipping through this rigged Uno game ](https://www.youtube.com/watch?v=5_f2AEiHY8w) he mentions Kravis at 4:58 by referring to him as “a legend in the industry” . + +Would like to point out that Kenneth talks about what he learned after the 2008 financial crisis starting at 1:44. + + “If you’re gonna run a large balance sheet you either have very long term funding or you need to have access to the FED” + +Kenneth Griffin hired Ben Bernanke as an advisor in 2015 and in a quote said that “ Bernanke's "insights on monetary policy and the capital markets will be extremely valuable to our team and to our investors." + +https://www.chicagotribune.com/business/ct-bernanke-citadel-0417-biz-20150416-story.html + + +As for if Scientel Solutions and Boston Consulting Group have any connections all I could find so far was that they are a part of the [Dallas Regional Chamber](https://www.dallaschamber.org/wp-content/uploads/2019/03/DRC-TopInvestors.pdf) + +[Interesting find from wikipedia](https://en.wikipedia.org/wiki/Dallas_Regional_Chamber). + +“Recent notable speakers before the Dallas Regional Chamber include Federal Reserve Chairman Ben Bernanke,” + +Thanks for reading and please note I may update this with more information if needed. Please check out all the links I think they are worth reading and let me know if I missed something or my smooth brain got wrong. + +**Update** + +Looks like this Nelson Santos dude is a part of an organization called YPO(Young Presidents' Organization) which comes off like some non profit mentorship growth thing but personally looks like some sort of network to share inside information on companies. [This is a topic I had touched upon before](https://www.reddit.com/r/Superstonk/comments/u3qm9z/kenny_admitting_to_using_bcg_to_spy_on_other/i4r2wi7/) in this comment for those curious. + +**Update** + +[Might as well post my other DD](https://www.reddit.com/r/Superstonk/comments/u56jxl/boston_consulting_groupbcg_promoting_blackrocks/) on what I found connecting Boston Consulting Group and Blackrock.The DD mainly deals with the "Aladdin" software used by multiple firms but also includes the links from that previous comment involving a mentorship program called "America needs you" . + +[Charles R. Schwab is listed as a notable member on their wiki](https://en.wikipedia.org/wiki/Young_Presidents'_Organization) + + + +[YPO sounds like a cult for CFO's](https://www.ypo.org/what-is-ypo/) + +"We are the global leadership community of chief executives driven by the shared belief that the world needs better leaders. We come together in YPO to become better leaders and better people. Through YPO, we are inspired and supported to make a difference in the lives, businesses and the world we impact." + +[Seriously is this normal requirements to join an organization where you have to disclose financials off the bat?](https://www.ypo.org/membership-requirements/) + +A Managing Director and Senior Partner at BCG named Michel Frédeau gave a speech at their conference. +https://www.ypo.org/2020/01/trust-vulnerability-sustainability-and-inclusion-whats-on-todays-ceo-mind/ + +Looked for a Blackrock connection and [this was the first article](https://www.forbes.com/sites/stephenibaraki/2021/08/05/ypo-giin-partnership---nearly-500-trillion-global-wealth-prioritizing-impact-in-2021/?sh=7392dd2f1fce) on them from last August. + +"Moreover, CEOs are working on getting added information to make better informed decisions." + +Sounds like an innocent way to say insider trading to me but okay. +But wait there's more from that article + +"YPO is interesting since it’s a highly vetted organization of CEOs. There are more than 30,0000 chief executives across 142 countries with their companies producing $9 Trillion in annual earnings (ranking 3rd if measured across countries in GDP)." + +Very interesting indeed. + +**Update** 2 + +Found 2 people from Blackrock associated with this organization YPO organization but I worry they might get doxxed so I wont post their info for now. + +YPO Pritzker Connection + +Look at that [Robert Alan 'Bob' Pritzker was a part of YPO](https://ypochicago.org/about-ypo-chicago/). The current governor is his nephew. + +[Penny Pritzker is also listed as a notable member.](https://en.wikipedia.org/wiki/Young_Presidents%27_Organization) + +**Another Update** + +[Henry Kravis and Ben S. Bernanke know each other and even attended the same Bilderberg Conference as the markets where starting to crash in 2008 and the mainstream media had a blackout of this event at the time.](https://slate.com/news-and-politics/2008/06/why-isn-t-the-press-corps-more-interested-in-covering-the-bilderberg-conference.html) + +[The meeting took place June 5-8 of that year](https://en.wikipedia.org/wiki/List_of_Bilderberg_meetings) + +Ken Griffin has also attended the event multiple times with some searching showing [2015](https://bilderbergmeetings.co.uk/) and [2017](https://www.bilderbergmeetings.org/meetings/meeting-2017/participants-2017) + +Here is a summary of the annual Bilderberg meetings + +"The Bilderberg meeting (also known as the Bilderberg Group) is an annual conference established in 1954 to foster dialogue between Europe and North America. The group's agenda, originally to prevent another world war, is now defined as bolstering a consensus around free market Western capitalism and its interests around the globe. Participants include political leaders, experts from industry, finance, academia, and the media, numbering between 120 and 150. Attendees are entitled to use information gained at meetings, but not attribute it to a named speaker. This is to encourage candid debate, while maintaining privacy—a provision that has fed conspiracy theories from both the left and right. + +Meetings were chaired by Prince Bernhard of the Netherlands until 1976. The current Chairman is Henri de Castries." + +https://en.wikipedia.org/wiki/Bilderberg_meeting + + +**BIG UPDATE Credit to /u/throwawaylurker012** + +Here it is I will just post it in his words + +"ELI5: there was a lawsuit called PennEast Pipeline Co v NJ where basically SCOTUS tentatively ruled on side of the private co (PennEast) to use federal power of eminent domain (read: tell states go fuck yourself and take their land)" + +"NJ said nah that shit don't work because "sovereign immunity" and SCOTUS ruled 5-4 for PennEast + +so not 100% but think with that ruling (think it got sent back to a district court?) but basically: "If this case already has some Supreme Court precedent, then Griffin having an in with the governor (and CyrusOne) might make it easier for them to roll over on any lawsuit. CyrusOne could just pull the same shit with PennEast and use eminent domain rules to perhaps land grab the spaces most conducive to accelerating their high frequency trading game plan." +I recently had a conversation with my dad, a lifelong fiscal conservative opposed to the minimum wage, about Andrew Yang’s plan to instal UBI and, no surprise, he was against it. However, he said he would be for it if there was no minimum wage — his argument being that businesses would actually be incentivized to provide a competitive wage. + +In theory, that makes some sort of sense, but I’m out of my grasp as to how that would actually play out in reality. This is obviously purely hypothetical as getting TO that point would be difficult, to say the least. But, if it were, what would be the potential effects? +With tax season fast approaching I wanted to make everyone aware of a little-known fact that if you make less than $64,000 a year you are [eligible for free tax filing and preparation](https://www.irs.gov/filing/free-file-do-your-federal-taxes-for-free). + +The government has a contract with tax prep companies like H&R Block that allows for free tax filing for 70% of Americans. You can use the tax prep software that companies normally charge for without paying a penny if you go through the IRS's website. The program opens in January to file your 2017 tax returns. + +The IRS's advertising budget for this program is $0 so very few people realize it exists. Last year only 2% of eligible taxpayers used this system. Most people paid the companies to prepare their taxes because they weren't aware of this great program. It is literally the same programs the companies charge for being offered for free. + +*If you're interested in why companies would offer their products for free it's because it prevents the government from offering a free filing option. So long as tax companies offer free filing to 70% of US taxpayers the government will not offer a competing tax prep option, per the contract. They just work very hard to make sure no one actually knows the free filing option exists so we continue to pay them to prepare our taxes.* + +**Use this program and please tell everyone you know so they can take advantage of it too.** +Hey everyone, + +It's been a while since I posted on here, so I wanted to put together a list of key takeaways and lessons learned from managing our rental portfolio through the COVID-19 pandemic. + +I feel like some of these points are rarely explained to new investors, but they become very important as your portfolio grows and as you face economic downturns or unexpected events like COVID. + +&nbsp; + +## **Some Background** + +My wife and I own 40 rental units, primarily consisting of residential multi-family buildings in Kansas City, but also some SFRs in Atlanta, Birmingham and San Diego. + +The majority of these properties are located in what I would call middle-class, "B" class neighborhoods and are occupied by your typical working-class families. + +We don't manage any of our properties ourselves - they are all managed by professional PM companies. I do, however, communicate with them on a regular basis, review all of the cash flow statements, and jump in if there are any major issues going on, like what happened last year. + +I did [a detailed AMA on here](https://www.reddit.com/r/realestateinvesting/comments/817z6d/ama_ive_built_a_portfolio_of_35_rental_units_and/) a while back where I went over how we grew our portfolio, as well as [written this post](https://www.reddit.com/r/Landlord/comments/7s7tjf/landlord_us_ive_put_together_some_key_strategies/) about our general property management strategy if you want to take a look. + +&nbsp; + +## **What Happened During COVID** + +I don't think we were affected as bad as some of the other investors I heard about, but for about 4-5 months starting in April 2020 (right when everything started to shut down), we were not able to collect about 20% of our rents, which resulted in $5,000 - $6,000 of lost income each month. + +We were also not able to process any evictions for most of 2020, as they were halted pretty much across the board in all states. + +We were able to set up payment plans with many of our tenants who, over time, paid back some of the owed rent. We did forgive and write off some of the unpaid rent, and some rent we were never able to recover and had to eventually evict those tenants once the courts opened back up again. + +&nbsp; + +## **Takeaways and Lessons Learned** + +**1. Always Have Adequate Cash Reserves** + +This may be one of the most underrated topics, especially among new investors. But I firmly believe that having a good cash reserve is absolutely essential, especially as your rental portfolio grows. + +We use the same approach that's often recommended for personal "emergency" funds for our real estate "emergency" fund as well - we put aside 5-6 months' worth of expenses for each property we own to help us pay for unexpected repairs, extended vacancies or delinquencies, natural disaster damage and any other unforeseen expenses. + +Sure, at 40 units this reserve fund is rather large and it's tempting to just use it to buy more properties. But I would credit having this reserve as what helped us the most during COVID without relying on emergency loans, loan payment deferral or any other drastic measures. + +&nbsp; + +**2. Keep Your Personal Finances in Order** + +I feel that many people look to real estate investing to fix other personal finance issues they may have, which I doubt works very well. + +Real estate investing, especially at scale, is a capital-intensive business that requires a good skillset in cash flow and debt management. If you are struggling financially, buying rental properties may not be a good fit. Not only will your personal finance problem likely affect your rental portfolio, but if anything happens to your properties, you will have nothing to fall back to. + +Imagine if you lost your job during this pandemic and also had to deal with non-paying tenants in your rentals - you would be in a very tight spot. Take a couple of years, get your finances on track, then come back and give real estate investing a shot. + +&nbsp; + +**3. Make Sure Your Properties Cash Flow** + +It still perplexes me when I see posts pop up on here along the lines of "Should I buy this property even though it has negative cash flow?". I think there are very few cases when this may be acceptable, especially if you're just starting out and are not very experienced. + +A negatively cash-flowing property will continuously drain your real estate or personal reserves and leave you with no safety net when something bad happens. We always buy properties with positive cash flow. Even if my primary goal was long-term appreciation, I would still avoid properties with a negative cash flow. + +I would even take this a step further and suggest being extra conservative and cautious when estimating cash flow projections for new properties. I tend to underestimate the rents and overestimate the vacancy and expenses to make sure I have a cash flow buffer built in every property I purchase. + +&nbsp; + +**4. Don't Overleverage Your Portfolio** + +This one goes along the same lines as the previous point. Loan payments will usually be one of your biggest expenses, and overleveraging your portfolio can put a significant strain on your cash flow. + +We try to keep our portfolio leveraged at around 60-70%. It used to be a bit higher when we first started, but this is the level I feel comfortable having it at with the number of properties we have now. + +Being overleveraged can affect your cash flow, reduce available financing options, and may also prevent you from getting emergency loans, should you need them in times like this. + +&nbsp; + +**5. Be Proactive When Dealing With Issues** + +We use property management companies for all of our rentals, so I'm not involved in the day-to-day operations, but when serious issues, like the COVID pandemic, come up, I try to be as proactive as possible and work with my PM companies to come up with a plan on how we're going to get through them. + +This doesn't mean you need to micromanage your property manager, but there is nothing wrong with getting them on the phone, talking through the potential impact of what's happening, and brainstorming a solution that will work for all parties involved. + +[This was the general plan](https://www.reddit.com/r/Real_Estate/comments/fwtdjg/covid19_resources_relief_programs_for_real_estate/) we came up with for COVID specifically, but the main point is that instead of sitting around and waiting for things to resolve on their own, it's almost always better to take a more active role in getting everything back on track. + +&nbsp; + +**6. Be Flexible With Your Tenants** + +I definitely think that owning a rental portfolio, especially a large one, is a business and should be treated as such. The stories you heard about landlords giving all of their tenants multi-month rent forgiveness are probably unrealistic if you have 10-20+ units. + +At the same time, I think it's important to treat your tenants as human beings and work with them through whatever issues they are experiencing, especially if they have been good tenants in the past. + +Evictions, vacancies and unit turns are costly and for a large portfolio like ours, can actually be one of the largest expenses. So working with your tenants and being flexible goes a long way to not only keeping them happy, but also improving your cash flow in the long run. + +&nbsp; + +*** + +&nbsp; + +I'll close by saying that I'm fully aware that the COVID-19 pandemic wasn't that bad of a downturn, especially compared to periods like the 2008-09 recession. It looks like the rental market is rebounding fairly quickly as people are getting back to work. + +My hope for our portfolio is that if we continue practicing and implementing the strategies I touched on above, it will go a long way to preparing us for an actual serious downturn or a recession in the future. + +I also hope this will be helpful to any of you just starting out or scaling your portfolio from a couple of properties to 10-20+ units, by highlighting some of the things that may not be talked about as often. + +As always, happy to answer any questions in the comments! + +&nbsp; + +Edit #1: Had an issue where some of the post content got accidentally deleted when I was making a small change, but it should be back up now. +Hi all, I’ve started my journey in algotrading about 3 months ago and will love to get some advice. + +What I’ve done up until now is testing all kind of strategies, most of them rely on technical indicators. Not much success but I really like working on it and exploring ideas. I’m coding and testing these strategies with python and use daily stock data from yfinance. + +What worries me is that I see many talks on machine learning and statistical models which I don’t have much knowledge of. Does profitable trading algo necessarily has to include them? Or did someone achieved profitable strategy with a simple algo (i.e. moving average based rules etc.) + +Also, I didn’t dive much into the popular metrics (sharp ratio, equity curve etc.) I figured that I should at least come up with a profitable strategy (high winning rate without big losses that eat profit) before I dive into them. Is this a reasonable way to go? + +Would appreciate any further advice for a beginner like myself. Thanks! +Welcome to the Daily General Discussion thread of /r/EthTrader. + +Find the latest Daily Altcoin Discussion thread by selecting the top result on this [search page](https://www.reddit.com/r/ethtrader/search?q=Daily+Altcoin+Discussion&include_over_18=on&restrict_sr=on&t=all&sort=new). + +*** + +The thread guidelines are as follows: + +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All sub rules apply here so please review our **[rules page](https://www.reddit.com/r/ethtrader/about/rules/)** to become familiar with them. The rules page is also linked in the announcement bar above. +- If the top page becomes overloaded with memes, all but the top two voted may be removed. If we need to remove a bunch of memes from the top page, post memes in this thread first and upvote the best so the mods know which ones to keep + +*** + + Resources and other information: + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! + +Sorry, this is a little bit of a rant but I just want some input. + +I always had a fear of not having enough money for the future. As of right now, its gotten a lot worse. My family and friends know me as the cheapskate. I dont spend much at all and all I do is invest. +With my job I make okay amount of money. I make 45K a year, net income after tax around 35K. +With all the basic needs (insurance, gas, rent, food and other little things I buy) +I save up around 20K a year. This is not much at all and it's really getting to me. If the government didnt tax my pay I would have more but thats just how it is. + +I am currently 26 and it will take me about 25 years to buy a house, that's if I dont have children . If I want a child it will cost me 250K or more. To retire I need maybe around 1 million depending on the situation. If I have a child 5 years from now, I dont know what I should do, I just wont have enough. To make just 1 million it will take me 50 more years, I will be 76. + +I just cant do it.. all my savings goes into investment and even if I do all that I will never make enough money to do what I want in life. Also my Investments are currently crushing me with the markets conditions right now. + +What should I do? Fyi I live in Canada so it's a little more expensive in my opinion. +DogeBonk is a completely unruggable, spontaneously formed community token with the most potential to go viral of any meme coin since Shiba. + +Since DogeCoin exploded earlier this year there have been thousands of dog coins most of them scams, false promises and poor ripoffs with devs sole purpose being to make as much money from their holders as possible. Every day another team launches their coin trying to piggyback off the success of others, offering false promises of NFT marketplaces, metaverse worlds and whatever else is the newest trending hashtag on Twitter. These coins have forgotten that what makes you a meme coin is how good your memes are. + +​ + +DogeBonk is different. The DogeBonk community spontaneously formed just two weeks ago on a dead dog token someone found with locked liquidity, renounced contract and SafeMoon tokenomics. We have grown from <300 holders two weeks ago to over 4000 today. We have no false road maps promising the world, we just spread our hilarious meme and convince others to join us as we bonk everything. + +The memes and energy coming from this community is crazy. Just search DogeBonk on the search bar on Twitter and you’ll see what I mean. Once you see the quality of these memes you will see how DogeBonk has huge potential to go viral. DogeBonk is the most memeable project in the crypto space since Doge. + +Despite our lack of false promises, the team and community is still delivering: + +bonkSWAP launched, making it super easy for even non-crypto natives to purchase $dobo from fiat - [www.bonkswap.com](https://www.bonkswap.com/) + +​ + +# Is DogeBonk safe? + +* Liquidity was locked forever by burning all LP tokens 🔥 +* Ownership of the contract was renounced. +* See proof on our website. +* Contract is a 1:1 copy of SafeMoon which was audited by Certik. +* Top holder owns only 1.9% of the supply. +* As microcap gems go, it’s an unruggable beauty. + +# Tokenomics + +* 10% tax on all transactions: +* 5% are distributed to fellow DOBO holders, +* 5% are added to liquidity to create an ever rising price floor. +* \-> token with deflationary properties and automatic yield generation. (Burn wallet is receiving \~1% of all transactions FORTY% burned so far) +* There was no presale and to prevent bots from sniping the token, you can only buy/sell 0.5% of the total supply at the time 🎯 + +# Info + +Telegram: [https://t.me/dogebonk\_community](https://t.me/dogebonk_community) + +Website: [https://dogebonk.com](https://dogebonk.com/) 🌐 + +Buy on bonkswap: [www.bonkswap.com](https://www.bonkswap.com/) + +Contract: 0xae2df9f730c54400934c06a17462c41c08a06ed8 📝 + +Buy on PancakeSwap: [https://pancakeswap.finance/swap?outputCurrency=0xae2df9f730c54400934c06a17462c41c08a06ed8](https://pancakeswap.finance/swap?outputCurrency=0xae2df9f730c54400934c06a17462c41c08a06ed8) 🍰 + +How to buy: [https://dogebonk.com/#howtobuy](https://dogebonk.com/#howtobuy) 📖 +Sorry folks, sort of long... +So last year I contracted Covid which became long haul Covid which eventually exhausted my sick/vacation/FMLA leave and my employer"let me go". But that's not the rant here. +Over the last 2 months I have had multiple interviews, you know with those employers who keep talking about how "desperate they are for workers" and how "nobody wants to work" and they all want to know about the "recent gap" in my work history. And inevitably after seeing that and hearing why there's always a "better candidate" for the position. So basically you have to have a job to get a job. Even with a perfectly legitimate reason for spending eight months not working it STILL counts as a negative strike. Meanwhile the holidays are coming up and I'm starting to panic about what to do for my kids. Not to mention maxed out credit cards, overdue bills, etc. It feels like once you get even a little behind everything avalanches and your stuck. + + +Edit: I am overwhelmed by the amount of support and good advice that has been given.Thank you all so much! +Maybe this has been posted before, but I was at rock bottom back in 2008, after graduating from Florida State, with a Finance degree. I could not find a job that works cover my living expenses, as well as my $56k in student loan debt. I was to the point of selling plasma, stealing copper to sell, etc. Then one day, it struck me. I could let my apartment go, sell my personal vehicle, and hit the road to make some cash. + +In 2009, I applied at all of the companies that offered training and took the first opportunity, as I knew I would not be there more than a year. I made $57k that first year and have increased my salary substantially year after year. This year I am on track to make $124k, and have made another $35k in the options market so far. + +Your cost of living can be as low as $100 a week, while making $2k depending on the lifestyle you choose. + +It is something to look into for you younger people that have no commitments at home. It really changed my life, even though, I still practice frugality. + +Edit: proof + +https://imgur.com/a/jvuUGfM +TL;DR: high salary worker with no debt saves a lot of money, feels good about self. + +Greetings all. I think this is actually my first post in this subreddit, though I’ve been lurking for about a year now. + +I’m a 27yr male, birthday was on the 30th. I bring up the birthday because it was also the same day that my invested / saved net worth crossed the $100,000 mark! + +I’m no drug addled mom, though her story was pretty kickass. In fact I got pretty lucky in life with college and afterwards. I was able to graduate debt free and I stumbled into a job with a Fortune 50 company working in Information Technology. + +Salary: 108,000 +Stock: 25,000/year on average + +I max out my 401K, HSA, IRA every year. I’ve got 25,000 saved up as an emergency fund, though I’ve been debating dropping that down to 10,000. I save around ~60,000 a year between all of tax advantaged and standard brokerage accounts. I know this doesn’t make me some special butterfly— higher salary lets you save more, who knew. Some of that is being diverted this year into a 529 account to cover my master’s in 2 years and to help cover my new-ish Nephew’s college in 15 years. + +As I said, my story doesn’t make me some special case. I didn’t have some great adversity to overcome in life. I was raised middle class, I managed to graduate with no debt from college, and my first real job out of college was with a Fortune 50. I got lucky in life. + +But I also saw what I didn’t want to have happen to me. My mom worked her whole life until me and sister were born, and then became a full time mom. Her and my dad, despite being married and still are, always kept their finances separated. Dad made good money, mom did not. Mom isn’t going to retire with much, if she ever does retire. + +My sister became a teacher, bless her heart. She wanted to empower the youth of our future and I thank her every day for it. But that is not a financially safe career in the US. She and her husband struggle a bit— not living paycheck to paycheck, but there are things that they can’t afford that they really wish they could. + +I don’t help them out directly, because I don’t want to give them a handout, but I do want to help. I’ve been fortunate enough in life to have some extra, and so I’ve begun socking money away for my Nephew’s college. Even if there’s not enough saved up for him to get out debt free, if I can remove a sizeable portion of his debt then that will better empower him. I know the advantages of not having student loans. + +I honestly don’t know if I will ever retire. I like working and keeping busy. A part of me really wants to setup a grant or foundation before I die so that I can empower others through my good fortune. Just save up as much as I can through life, get that “fuck you money” and then coast. Share the rest with people who need it. +I'm kinda confused. I guess I should report and close the other cards, but... will closing them affect my credit score? *Should* I close them? And why would someone do this anyways? Or could I be mistaken about this being identity theft? + +EDIT: After finding out that they were authorized accounts, we noticed that my birth mother's address was listed on the report, so I took a shot and contacted her, and... https://i.imgur.com/2wnKQub.jpg + +Thanks for the help, y'all. Go hug your moms. +Good morning San Diago, + +I am Rensole, + +Do you smell that? + +\*insert flashy intro card\* + +&#x200B; + +https://preview.redd.it/yn3ku953hws61.png?width=680&format=png&auto=webp&s=c3be58358ef589f22712d8c9399b5076a7b04023 + +None of this is financial advice, I'm just an ape who found a typewriter with an internet connection + +So first up the man with the plan Gensler! + +&#x200B; + +https://preview.redd.it/gek1046fhws61.png?width=960&format=png&auto=webp&s=4fb77eca4040a6e4f95e25df7cc3c3e070cb1d66 + +[https://www.wsj.com/articles/gary-gensler-biden-s-pick-to-head-sec-approved-by-senate-committee-11615404521](https://www.wsj.com/articles/gary-gensler-biden-s-pick-to-head-sec-approved-by-senate-committee-11615404521) + +Mr Gensler is someone I talked about before and in length, he is one of the people responsible for making the Frank Dodd Act possible, as it is looking right now he is right on track on becoming the head of the SEC.But the SEC doesn't do anything? correct I believe the laissez faire attitude the SEC has had the past few years was due to leadership, this guy fucks or as other people would say it... this guy actually does the job at hand. + +[https://www.senate.gov/legislative/LIS/executive\_calendar/xcalv.pdf](https://www.senate.gov/legislative/LIS/executive_calendar/xcalv.pdf) + +**UNANIMOUS CONSENT AGREEMENT** + +Polly Ellen Trottenberg (Cal. No. 55) + +Wendy Ruth Sherman (Cal. No. 35) + +**Gary Gensler (Cal. No. 33)** + +Brenda Mallory (Cal. No. 53) + +**Ordered, That upon the conclusion of morning business on Monday, April 12, 2021, the Senate proceed to executive session to** **resume consideration of the nomination** of Polly Ellen Trottenberg, of New York, to be Deputy Secretary of Transportation. Ordered further, **That at 5:30 p.m**., the cloture motions on the following nominations ripen: Polly Ellen Trottenberg, of New York, to be Deputy Secretary of Transportation; Wendy Ruth Sherman, of Maryland, to be Deputy Secretary of State; **Gary Gensler, of Maryland, to be a Member of the Securities and Exchange Commission for the remainder of the term expiring June 5, 2021**; and Brenda Mallory, of Maryland, to be a Member of the Council on Environmental Quality. Ordered further, That with respect to the motions to invoke cloture on the above nominations, the mandatory quorum calls required under Rule XXII be waived. (Mar. 25, 2021.) + +&#x200B; + +So expect news of him being instated to follow very soon. + +&#x200B; + +&#x200B; + +[a very proud bag owner like us \<3](https://preview.redd.it/l8jen1u7iws61.png?width=1125&format=png&auto=webp&s=8e322b01354f0c17f57168d1e922eec0845edd0a) + +&#x200B; + +https://preview.redd.it/e6kv34vmiws61.png?width=452&format=png&auto=webp&s=5e22715c4663dfa6529510776482185288d6cb5e + +So some people where wondering what was up with them looking for CEO's outside of the company, let's get into that. + +For bigger companies there are more things to keep in mind especially when you have shareholders you need to report to, so what gives? well once you've made a short list you can still say "oh remember Ryan? yeah he still seems like the best fit" because you have to do your due diligence and look for the best suitable candidate, and even if they pick someone that's not our boy RC this madlad put together a great team so far, so why question his judgement now? + +I believe that RC knows what he is doing and he'll do what is best for the company at the end of the day. + +[https://www.reuters.com/article/idUSKBN2BZ290](https://www.reuters.com/article/idUSKBN2BZ290) + +(again it says "three people familiar with the matter" so I don't fully trust it but who knows) + +This also comes together nicely with the DFV tweet of a guy jumping a gate/wall + +[https://www.reddit.com/r/Superstonk/comments/mpmeu6/the\_meaning\_of\_over\_the\_wall\_in\_finance\_relates/?utm\_source=share&utm\_medium=ios\_app&utm\_name=iossmf](https://www.reddit.com/r/Superstonk/comments/mpmeu6/the_meaning_of_over_the_wall_in_finance_relates/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) + +&#x200B; + +&#x200B; + +https://preview.redd.it/mmqfxb7okws61.png?width=420&format=png&auto=webp&s=825cdab366eb06cf3df9d67c029a898ce5b4fdd2 + +# DTCC-2021-005 + +Ok this one freaked me out a little yesterday, the DTCC 005 rule was suddenly gone from the website and no one knew what happened to it, I personally wrote it off as either a glitch or maybe they are between amending it and implementing it. + +Thank god u/kamayatzee knew why to reach out to + +I reached out to John Petrofsky, Director and Assistant General Counsel @ DTCC and he sent me this message: + +*"Thank you for your inquiry.* + +*There was a* ***technical formatting issue*** *with the filing.  It will be refiled shortly and then reposted.* ***In substance it will remain the same.****"* + +This is good news!! assuming they didn't change anything without our knowledge. Its probably best that we compare each version of the document to make sure. Shoutout to [u/cisconate](https://www.reddit.com/u/cisconate/) for archiving a copy of the old DTC-2021-005 [here.](https://pastebin.com/adT3ZUZ0) + +&#x200B; + +https://preview.redd.it/etfcsvzgjws61.png?width=500&format=png&auto=webp&s=a9af92ee9059a668cadaf48633756155fd6ad65e + +Guess who is throwing their weight to help the retail a bit? you're god damn right Dennis Kelleher. + +check this out [https://twitter.com/bettermarkets/status/1381737389169635329?s=27](https://twitter.com/bettermarkets/status/1381737389169635329?s=27) + +As to my understanding Shitadell and the others can't give up, they are in a "do or die" situation as a company. meaning that regardless of what they try they have to pull out everything they can to get everything in order BEFORE the new rules come into play, BEFORE the Annual shareholder meeting because they may be able to walk away with a big hit if one thing doesn't go their way but what if they keep getting hit ? + +Look at it like a casino, they run the casino and it's failing because their normal tactics no longer work. + +Disrupting peoples communications is one of the tricks they'd use (bad news articles, shills, spread fud etc), or when someone buys they buy bellow the current price (price is 201 but they buy at 200,998 so even with continued buying pressure it goes down), or trading via dark pools and yet all of this isn't helping anymore, sure it may drive the price down or whatever, but does it change anything? the company is still looking good and healthy and can't wait to hear their roadmap and see all the changes they will implement. + +The Hedgies plan went tits up when RC stepped in and they know it. + +&#x200B; + +https://preview.redd.it/vnajr5u2mws61.png?width=828&format=png&auto=webp&s=d6dd22d856b8dd2143c9d6e36718b4e3d5d23862 + +&#x200B; + +https://preview.redd.it/d6unkem3mws61.png?width=1080&format=png&auto=webp&s=0581a610492f6970f15cefbb3a499899b8bb3779 + +But you know who is also connected to those two? point 72 and their owner Steven Cohen just sold his penthouse, while this in and of itself isn't weird or good news, I mean real estate shifts right? + +Yeah I'd be all in for that if he didn't paperhand that at a 74% price cut. + +Granted the house was on the market for 8 years, but having an asking price of 115m originally and going down 74% just yesterday is fishy at least. + +&#x200B; + +https://preview.redd.it/zvsd29qhmws61.png?width=640&format=png&auto=webp&s=e9fc892e505e7aa757f0290f87cc2a55df9db9ba + +[https://www.bloomberg.com/news/articles/2021-04-12/steve-cohen-s-manhattan-penthouse-sells-after-a-74-price-cut](https://www.bloomberg.com/news/articles/2021-04-12/steve-cohen-s-manhattan-penthouse-sells-after-a-74-price-cut) + +[https://www.crainsnewyork.com/residential-real-estate/cohens-manhattan-penthouse-sells-after-74-price-cut](https://www.crainsnewyork.com/residential-real-estate/cohens-manhattan-penthouse-sells-after-74-price-cut) + +&#x200B; + +&#x200B; + +https://preview.redd.it/j1p0te2fnws61.png?width=554&format=png&auto=webp&s=e765bcb01538eeca93847be871e520921e39028d + +# EXCELLENT! + +Be friendly, help others! + +as always we are here from all different walks of life and all different countries. + +This doesn't matter as we are all apes in here, and apes are friends. + +Doesn't matter if you're a silverback a chimp or a bonobo. + +We help each other, we care for each other. + +**Ape don't fight ape, apes help other apes** + +this helps us weed out the shills really fast, as if everyone is helpful, the ones who aren't stand out. + +remember the fundamentals of this company are great, so for the love of god if someone starts with trying to spread FUD, remind yourself of the fundamentals. + +There is no sense of urgency, this will come when it comes, be a week, be it a month be it six. + +We don't care, just be nice and lets make this community as Excellent as we can! + +&#x200B; + +&#x200B; + +https://preview.redd.it/07z7r28inws61.png?width=400&format=png&auto=webp&s=5295610e75a749db417177cf3c6118298cd4c15a + +Remember none of this is financial advice, I'm so retarded I'm not allowed to go to the zoo 'cause they'll put me in the cage with the rest of my ape brothers. + +If anything happens throughout the day I will be adding it here. + +backups: + +[https://gmebackup.tumblr.com/](https://gmebackup.tumblr.com/) + +[https://twitter.com/rensole](https://twitter.com/rensole) + +[https://twitter.com/HeyItsPixel1](https://twitter.com/HeyItsPixel1) + +[https://twitter.com/warden\_elite](https://twitter.com/warden_elite) + +[https://twitter.com/RedChessQueen99](https://twitter.com/RedChessQueen99) + +And I'll be posting updates as they happen here: +Good day, Apes! + +This DD will provide you with a plethora of knowledge on why 2022 is year of the MOASS, and after absorbing this info, you'll reach such a high level of zen that you'll be completely impervious to any FUD. + +https://i.redd.it/2uwehkoxbnw81.gif + +\---------------------------------------------------------------------------------------------------------------------------------------- + +Recommended Prerequisite DD: + +1. [Checkmate](https://www.reddit.com/r/Superstonk/comments/txnwhu/checkmate/) +2. [We Are Unstoppable](https://www.reddit.com/r/Superstonk/comments/t3zp4h/we_are_unstoppable/) +3. [Mountains of GME Synthetic Shares](https://www.reddit.com/r/Superstonk/comments/qxljfb/the_numbers_are_in_mountains_of_gme_synthetic/) + +\--------------------------------------------------------------------------------------------------------------------------------------------- + +2022: Year of the MOASS \[8 Reasons Why **∞** Soon\] + +§1: RC's BBBY Call Options + +§2: Indicators \[Primarily Utilization\] + +§3: The Algorithm + +§4: Market Crash + +§5: Stock Split Dividend + +§6: NFT Marketplace + +§7: DRS + +§8: DOJ Investigations + +\--------------------------------------------------------------------------------------------------------------------------------------------- + +**§1:** **RC's BBBY Call Options** + +1 month ago, RC purchased not only a significant amount of BBBY shares, but also a significant amount of call options, as per SEC Schedule 13D Filing from RC Ventures: + +Under ITEM 3, + +“The aggregate purchase price of the 7,780,000 Shares directly owned by RC Ventures is approximately $119,376,296, excluding brokerage commissions. **The aggregate purchase price of the call options exercisable into 1,670,100 Shares owned directly by RC Ventures is approximately $1,785,263, excluding brokerage commissions.**” + +Here’s more details on the options he purchased: + +https://preview.redd.it/2n101ksyanw81.png?width=1339&format=png&auto=webp&s=6d58a23720b26ca121cd028b593a71feabc0a5c0 + +https://preview.redd.it/i16wwmwzanw81.png?width=1341&format=png&auto=webp&s=ae8d3e0be4a22770d7a95017b7a9a252c6b6d4bf + +Call options varying from $60-$80, expiring January 2023. + +This means that RC is betting that the price of BBBY will surpass $80 anywhere from now till January, 2023. These are the furthest OTM options that he could buy (meaning that the highest price he could bet the stock was going to surpass was $80, and he purchased those contracts). + +The price of BBBY stock at the time of recording is around $15, meaning that for RC’s $60 calls to go ITM, the price of BBBY would need to increase 301%+ its current price (and increase 434%+ for the $80 call options). For this to happen, there’d need to be a January 2021-type run up, which is not possible anymore without igniting MOASS. In other words, RC is betting MOASS before January, 2023. However, due to theta decay on options contracts, **RC is most likely anticipating MOASS to happen way before January, 2023 (likely sometime around mid-2022)**, which would be around the time of the NFT Marketplace/Stock-Split Dividend, which makes sense. + +Also, if we further ponder why RC would go with BBBY contracts instead of GME contracts, it makes perfect sense. RC is the type of guy to only want to either HOLD or HODL his GME shares. I doubt he’ll be interested in selling any GME shares during MOASS, as to not inhibit the legendary event. But, if he wanted to collect profits on the MOASS, he could sell his BBBY options instead. BBBY, being one of the basket stocks attached to GME’s price, will squeeze once the MOASS launches, and so RC could turn his million dollar options position with BBBY into billions in profits, selling those contracts and collecting billions without messing with the MOASS directly. A brilliant play. + +**§2:** **Indicators \[Primarily Utilization\]** + +I’ve always considered utilization (percentage of shares available to borrow that have been lent) to be an important factor for determining our proximity to a squeeze. When I was primarily focused on αmc during the first half of 2021, one of the big factors I looked for was utilization, so when utilization hit 100% in May, I knew some significant price movement to the upside was going to come. It only took a few weeks after 100% utilization for the stock to go up 600% afterwards. Did MOASS ignite? No. That, to me, was merely FOMO, which took the basket stocks, along with GME, to critical levels in June that SHFs did everything they could to suppress the price (from getting their pals to dump shares, to stock halts, etc.). We should note, however, that utilization was at 100% for only a few weeks. + +In the Social Science Research Network's “Short Squeezes and Their Consequences”, Schultz states "I find that the likelihood of squeezes is very low for most stocks. The risk of a squeeze becomes important when stocks are hard-to-borrow. Utilization, that is the proportion of shares available to lend that are currently on loan, has a strong positive correlation with the probability of a short squeeze. If utilization is high and a share loan is recalled, it is difficult to find a new source of shares. I find that for the majority of stocks that have low utilization rates, an all lender short squeeze appears about once every 40 years. For stocks with very high utilization of 90% or more, an all lender squeeze occurs about once every 11 days." + +This goes in line with what I witnessed with αmc on May-June, 2021. + +However, in the case today, GME has been at 100% utilization for 50+ consecutive trading days, which is big. + +For reference, utilization was at 100% for about 90 consecutive trading days, leading to the January, 2021 run up. + +https://preview.redd.it/b5nm75ksanw81.png?width=692&format=png&auto=webp&s=1ec5e6c6a33e32702212dd7b1fa0e8f6d71c9950 + +Now it looks like we’re repeating that same pattern: + +https://preview.redd.it/yr9qlg2wanw81.png?width=911&format=png&auto=webp&s=44ba40e7425436085f781262e470e4540e1ce950 + +For utilization to be at 100% for so long at this point tells us that the spring is loading up for something BIG, and whatever is coming is going to explode like nobody’s ever seen before. The January run up in 2021 was pure FOMO. That can’t happen anymore. If GME explodes past critical margin levels, MOASS begins (legitimate short positions closing) and that 100x run up from August 2020-January 2021 will be peanuts compared to what’s coming. + +Note: I’m not saying that the current utilization will emulate the January, 2021 utilization data. It could easily take longer than 90 consecutive trading days, but every trading day at 100% utilization adds to the pressure which will inevitably make the price erupt into a nuclear MOASS. Another few months of consecutive 100% utilization alone will make the price of GME substantially harder to control. + +There's also other strong indicators that lit up, such as the supertrend indicator. The weekly supertrend indicator went bullish 4 weeks ago. Last time it was bullish was in February, 2021. + +https://preview.redd.it/skom8hy1bnw81.png?width=1147&format=png&auto=webp&s=8ae047aeeead5d6afdbbbccef436741bb7feca5e + +Due note that when the weekly supertrend flipped bullish pre-January, 2021, several months went by until the January run up happened. This indicator, by no means, infers that a big price jump will happen within a short period of time, but that a strong run up in the price may occur sometime between now and several months from now. + +There's also other long-term indicators that flipped bullish several weeks back, but they aren't nearly as important as utilization. TA is mostly useless when it comes to a manipulated stock. There's only a few indicators that actually hold some significance to me, and even then, are not indicative of anything happening immediately. + +The most important indicator here is utilization, which may take several months for the price to react to, and ultimately pass margin levels, launching MOASS. + +**§3:** **The Algorithm** + +As I've said before, I consider TA to be mostly useless. This is primarily because Technical Analysis is used to predict "natural price movements". Well...there's nothing natural about GME's price movement. This is a heavily manipulated stock, so trying to predict natural trends of a heavily manipulated stock is counterintuitive. + +I've previously seen TA posts from Apes saying things, such as "bull flag forming, moon soon" or "inverted head and shoulders pattern, we're gonna run". This is silly. I mean, just think about it logically. You really think a SHF manager manipulating GME is gonna be like "OH SHIT, everybody, look, there's a bull flag forming on GME! We're screwed! We're gonna lose control of the price, and have to close all our short positions now! NoooOOOO!!!"? + +Miss me with that BS lmao. If anything, SHFs create fake bullish patterns just to get day traders to buy short term options thinking there will be a price jump on a certain date, only to get rekt when SHFs drop the price and collect their sweet premium money to help live another day. + +I care very little about TA. What I DO care about is the $100 million algorithm these institutions use to manipulate the price. + +The algorithm is used to optimize the best strategies for SHFs, for example, to determine how long they can feasibly keep the price down until they have to let it run a bit (due to rollover periods, etc.). Ergo, the algorithm can maximize the effectiveness of 'can-kicking', but eventually it comes to a point where the most strategic choice would be to let the price run a few weeks before shorting again. + +What happened on January, 2021 was a scenario that overpowered the algorithm. The algorithm didn’t say “hey, GME needs to go from $4 to $400+ by January, 2021”. That’s not how it works. It was slated to allow a gradual increase at the time, but got overpowered and taken over by retail FOMO. In January, retail regained control of the stock and took away control from the algo, up until the shutdown of the buy button where SHFs not only recalibrated the algo, but all piled in to double down on their short positions by shorting the shit out of GME as soon as the buy button got shut off. + +Regardless of any recalibrations from SHFs, their algorithm is designed to maximize profits, and at some point, the algo has to let there be a significant price increase and face a (say) 60% risk of tripping up and initiating MOASS rather than a 95% risk of initiating MOASS by burning through cash at an exponential rate, ultimately facing margin calls. Cost to borrow is an example. Cost to borrow was increasing at an exponential rate. Had they not allowed a price increase, the rate could've continued, eventually burning through their cash at an astounding speed. Every time that they allow a small run up to happen, however, they risk losing control of the price and ultimately initiating MOASS, which is why I'm curious to know how high of an algorithmic jump SHFs will have to deal with in the future. + +The closest algorithm I could find that best emulated GME's algorithm (in past time; hence, basket stocks not included) is BRN.AX (Brainchip Holdings). + +For comparison, this is GME's chart: + +https://preview.redd.it/7sacl6b4bnw81.png?width=1149&format=png&auto=webp&s=df8a73984de8b02924e90916b839a05d4008f5d3 + +This is BRN's chart: + +https://preview.redd.it/wb3y6585bnw81.png?width=1187&format=png&auto=webp&s=cbf2d535a37f8ff405e58a65bf8cd7bf074dbd1d + +The similarities are striking. BRN's "January run" happened on September, 2020; hence, it's technically ahead of GME by around 5 months, which would allow us to see a possible glimpse into the future, based on the algorithm. + +I wanted to dig deeper by deriving a correlation coefficient, so I crunched up the price movement data and this is what I got: + +https://preview.redd.it/t6oz5st6bnw81.png?width=579&format=png&auto=webp&s=cfeb824d8776fd4aff54faf6b24041ee1279ac3d + +https://preview.redd.it/5evg6ea8bnw81.png?width=739&format=png&auto=webp&s=4398dfba3c7d23db04063d731d561dfbae7fb1af + +**A general correlation of around .4**, which is actually considered a [moderate positive correlation](https://www.tastytrade.com/concepts-strategies/correlation). + +\---------------------------------------------------------------------------------------------------------------------------------------- + +Methodology: + +I used Yahoo Finance to extract BRN's historical data (from September 2, 2020 to September 2, 2021) as well as GME's historical data (from January 21, 2021 to January 21, 2022). Combined the data sets in an excel spreadsheet, analyzed, and extrapolated the correlation coefficient based on each respective stock's price movements within each historical timeframe. [More information of the code used to extrapolate Pearson's product-moment correlation](https://imgur.com/a/kLBvlqZ). + +\---------------------------------------------------------------------------------------------------------------------------------------- + +Considering how complex these $100 million algorithms are, I recognize that extrapolating a correlation coefficient between these two stocks by analyzing a general/ambiguous factor, such as price movement, might not yield the most definitive results. + +We can opt to take a rudimentary approach on extrapolating the correlation coefficient by instead analyzing the specific outliers (i.e. the strong periodic runs in price). + +Circled below are the focal points we'll be comparing to extrapolate a correlation. + +https://preview.redd.it/jurbeyz9bnw81.png?width=1440&format=png&auto=webp&s=9d5084c225031ddc140bdc8b53d2f22e2505b43c + +Taking these easily identifiable peaks, the dates between each stock's peak, and inputting the data into the Pearson correlation coefficient formula shown below, + +https://preview.redd.it/8lail7bbbnw81.png?width=365&format=png&auto=webp&s=21aba05fc5c0f216d67301df316734568b0031f5 + +**We can obtain a correlation of around .8 or more**, which is considered a strong positive correlation. + +Note: The results aren't going to be ideally precise, as it depends what what crests/dates you end up using as your variables. For example, you could take slightly different dates in proximity to the crests, or use other smaller focal points you'd prefer in the data instead. Hence, the results could vary slightly, but the overall positive correlation is there. I've permutated the data using two different sets of focal points, and still came out with a (conservatively) moderate-to-strong positive correlation overall, which means that **we can indeed use BRN's chart to get a better understanding of what the future holds for GME.** + +As I've stated before, GME is 5 months behind BRN, which means that the big spike you saw in BRN's January, 2022 chart would be algorithmically slated to happen to GME around the summer. HOWEVER, this is not a perfect correlation. Conservatively speaking here, we have a moderate correlation, meaning that there could be a variety of other factors that could delay that part in the algorithm, possibly prolonging a run up of that magnitude many more months out. It's important to proceed with caution, as to balance your expectations. Nevertheless, I see GME's algorithm slated to eventually have the giant run up in price sometime this year comparable to what BRN had in the beginning of this year, and as we already know, a run up of that magnitude will open the doors to extreme FOMO and uncontrollable price action, ultimately leading to: MOASS. + +**§4:** **Market Crash** + +Speaking of algorithms, let’s talk about the algorithmic movement of the S&P 500. + +There’s only so much that the government/institutions can do to artificially inflate the market until the inevitable crash comes, and it appears that time is approaching soon. + +I came across a post by Ape "choochoomthfka", who analyzed and compared the current S&P 500 price movements with that of 2008 and discovered algorithmic correlations that are pointing to a possible crash around the end of May, and just like the VW squeeze that came soon after the 2008 crash, the GME MOASS would come soon after the 2022 crash. + +His statement: “I’ve independently confirmed the S&P chart overlay of 2008 & today for myself. The similarity is indeed striking, but I just wanted to alert apes to the fact that the progression is \~4.4x faster today than in 2008. If indeed similar, the big crash is \~May 20th and the squeeze \~May 25th.” + +https://preview.redd.it/guhhw5vdbnw81.png?width=699&format=png&auto=webp&s=ed1b39c3007eca21cd1adcc8cacaac4de103cc2a + +This also goes in line with what we're seeing with the Buffet Indicator: + +https://preview.redd.it/1bhhp0afbnw81.png?width=891&format=png&auto=webp&s=62827e2648f87f9704cb77d55713dca5d8021d19 + +Now, although I agree that the current S&P price is likely being algorithmically controlled (via PPT, institutions, etc.), I don’t want to promote dates. The truth is that we aren’t entirely sure when the crash will happen. With a very strong confidence interval, I could say it will happen this year, but to say it will happen exactly near the end of May, I cannot. There can easily be wide standard deviations associated with these market algorithms that prevent us from pinpointing an exact date. For all we know, there’s unaccounted variables that could allow the algorithm to delay the market crash another 3 or 4 months after May. The algorithm simply optimizes the most strategic move. That’s all. If the S&P can no longer afford to be can kicked longer than June, the algorithm will signal and allow for the market to finally crash in June. However, if an externality shows up and changes the variables, it could delay things. + +All I’m saying is don’t get attached to specific dates. Nevertheless, the S&P 500 is following a similar pattern to 2008 that indicates a high likelihood of a market crash for 2022. As you may know, a market crash begets extreme loss in collateral for SHFs, triggering margin calls, and as such, MOASS. It’s important to note, though, that similarly to VW, GME might initially drop in tandem with a market crash, only taking off in the opposite direction as soon as shorts start closing their positions, due to failure to meet a margin call. + +Federal rate hikes, China’s real estate market conundrum, 8.5% inflation rate (as of March, 2022), unprecedented records of margin debt, exponential increase in mortgage-backed security failures, spikes in credit default swaps, the Feds cracking down on unsustainable overleveraged positions from hedge funds, regulatory agencies/clearing corporations filing rules preparing for defaulting members, etc., are all additional signs adding to a likely market crash this year. + +**§5:** **Stock Split Dividend** + +I explained this in my [Checkmate](https://www.reddit.com/r/Superstonk/comments/txnwhu/checkmate/) DD, so I won’t be going over it too much here. + +Basically, a 7:1 stock split (in the form of a dividend) would likely lead to MOASS, due to the fact that SHFs can’t come up with 6 times the amount of synthetics that they produced over the entirety of GME’s life within a relatively short time frame. This is why TSLA ran like crazy after they proposed their stock split dividend. Even if there was some sort of hidden loophole that they exploited, post-split dividend, we can expect FOMO (buying/DRS’ing pressure) to increase substantially, due to a significantly more affordable price. + +**§6:** **NFT Marketplace** + +The NFT Market was valued at $40 billion in 2021, [per Chainalysis Inc. report](https://content.techgig.com/technology-unplugged/nft-market-touched-40-billion-in-2021-new-estimate-shows/articleshow/88773041.cms). + +Considering GameStop’s market cap is valued at $10 billion, there’s a lot of potential revenue GameStop can tap into by entering this market. Not only that, but as time goes on and crypto/NFTs become more globalized, the NFT Market can easily exponentially increase in valuation, similarly to how Bitcoin did when it started getting adopted by institutions internationally as a store of value. + +OpenSea, currently the world’s largest NFT Marketplace, is valued over $13 billion, [according to Sephton at “CoinMarketCap Alexandria”](https://coinmarketcap.com/alexandria/article/opensea-now-has-a-valuation-of-13-3-billion). + +Yet, the OpenSea NFT Marketplace is incommensurable to the soon to be GME NFT Marketplace, due to a variety of reasons: + +1. OpenSea has extremely high gas fees, which deter business/revenue through their services and creates dead weight loss. +2. Weak security protocols. They have tons of vulnerabilities in their code that make them susceptible to attacks/thefts. Many examples in the past of OpenSea users suing the Marketplace for letting their NFTS get stolen by cyber thieves due to their “security vulnerabilities”. +3. GameStop gets nearly 1,000x more organic traffic via search engines than OpenSea does. + +GME succeeds where OpenSea fails, by utilizing its partnerships with Loopring & Immutable X to eliminate high gas fees as well as reinforce security, using Ethereum’s security rather than Polygon’s (etc.). GameStop’s NFT Marketplace will not only supersede, but augment the NFT Market as the dominant NFT Marketplace. + +That being said, GME’s market cap is already $10 billion. Say they get in the NFT Market in the summer and hit a valuation just half that of OpenSea this year. GME would end up with a high enough valuation putting itself past a $200 price. Maintaining a GME price past $200 would obliterate critical margin levels at this point, initiating MOASS. + +In case you haven’t noticed, something very big is gearing up this year, and I don’t think RC bought extremely OTM BBBY calls this year just for the fun of it. + +Very large partnerships with blue chip companies may be revealed upon implementation of the GME NFT Marketplace, and I believe we saw hints of it back in February: + +https://preview.redd.it/d28t4wdhbnw81.png?width=777&format=png&auto=webp&s=c9cc8c25a664c6db7833837ccefcd03420bf6a23 + +I’m going to end with this: there were tons of complaints (likely from shills) that RC has been so secretive about the NFT Marketplace. If you have something REALLY good on your hands, are you going to go out and tell everyone? No. You wait until the time is right to present it. Companies that don’t have anything good on their hands will be all talk, nothing much to present. The talking would come to just fluff their position and provide a façade to investors. RC is the exact opposite personality. This project has been in the works for the past year, and I genuinely believe when it delivers that it will exceed expectations. + +This NFT Marketplace, once implemented (and any additional hidden partnerships announced), could be a very big driver for FOMO soon after, ultimately breaking shorts’ banks and kickstarting MOASS. + +**§7:** **DRS** + +I've explained this before in §3 of my [We Are Unstoppable](https://www.reddit.com/r/Superstonk/comments/t3zp4h/we_are_unstoppable/) DD. The Price Suppression Quandary. + +"If the price of GME exceeds a certain point, margin calls will ensue, starting a snowball effect which will lead to MOASS. The more they short, the more money they lose, the more margin requirements pose a problem to them, and the more they will need a lower price. + +Now, if the price of GME declines too low, as I’ve demonstrated in “§ 1: Relentless Dip Buying”, Apes will double, triple, quadruple, etc., their ability to buy up the float and register it. + +Example: Let’s say, at the price of $120, it will take 10 months to lock 100% of the float. If SHFs decrease the price to $60, it will now take 5 months to lock 100% of the float. $30? 2.5 months. $15? A little over a month. By taking the price down so much, they effectively accelerate their demise, which is why they need a higher price. + +This is also not including any outside entities purchasing the dip (e.g. institutions, pension funds, or even angel investors, such as RC, Musk, etc.)." + +This is at the basic level. In reality, a price at $40 or below could technically allow GameStop to lock up the rest of the float themselves with their cash on hand, so it would immediately be game over if SHFs tried to pull off something like that. The more time that goes on, however, the less and less room SHFs have to breathe. Their margin call threshold is getting tighter each month that goes by. For example, back in June, their critical margin levels were around $350, meaning a sustained underlying close above $350 would've likely have led to margin calls/MOASS. As several months have gone by and they've burnt through so much cash with the stock that's only been getting harder to short every month, the critical margin levels that would beget margin calls now lies around $200-$210, which is why GME was halted around $200 this March, and SHFs threw everything they had once trading resumed in an attempt to regain control of the price. Their situation will continue to get more difficult as the number of registered shares increases. + +Every share DRS'ed crunches down the float of available shares, and strengthens the bullish indicators. SHFs cannot sustain this indefinitely, as the pressure of DRS'ed shares continues to build until an eventual snap of the algorithm, taking Apes straight to the moon. + +**§8:** **DOJ Investigations** + +When GameStop's 10Q came out on December 8, 2021, for the first time, this came up (pg. 14): + +https://preview.redd.it/btsr9vtibnw81.png?width=781&format=png&auto=webp&s=3e103a2d053782050d40d36b58424341919a7f4d + +A few days after that was published, this happened: + +https://preview.redd.it/f2wj9frjbnw81.png?width=1329&format=png&auto=webp&s=29028b506fe0430f060a38d55361f5b08683b241 + +Now, is it a coincidence that the DOJ immediately [launched a criminal investigation](https://www.reuters.com/markets/europe/us-doj-launches-expansive-probe-into-short-selling-bloomberg-news-2021-12-10/) into SHFs soon after GameStop's 10Q published, showing registered shares from Apes? Maybe, maybe not. But, I've talked about this happening way before the DOJ even launched an investigation. + +From my past DD [Mountains of GME Synthetic Shares](https://www.reddit.com/r/Superstonk/comments/qxljfb/the_numbers_are_in_mountains_of_gme_synthetic/): + +“I expect the closer we get to locking 100% of the float, the stronger the pressure the government will feel to taking initiative themselves, as once the float is 100% locked, there's no going back, and the entire world will witness the synthetics shitshow that will reveal itself and completely undermine the market's regulatory bodies. Moreover, as we also get closer to locking up the float, shorting GME back down will be a lot more costly and difficult for SHFs to do, which is why it's highly likely to me that the MOASS will start before the entire float gets locked up.” + +I strongly believe that the DOJ has had enough of SHFs putting the economy in jeopardy, and that is self-evident with their race to begin indictments before the float gets locked. + +[From the Washington post recently](https://www.washingtonpost.com/business/2022/04/27/bill-hwang-arrest-archegos/): + +https://preview.redd.it/pbxboo9lbnw81.png?width=683&format=png&auto=webp&s=d6fe64adceb96f8c49ecad91fc62dcbfd8cbe4c1 + +Hwang isn't the only one. I urge Apes to read into [the DOJ's press release a few days ago](https://www.justice.gov/opa/pr/four-charged-connection-multibillion-dollar-collapse-archegos-capital-management). It's got really juicy info. Other indictments include Patrick Halligan, Archegos' CFO (charged with racketeering/fraud). Also, co-conspirators Scott Becker and William Tomita were indicted. If the judge were to throw the book at them, they'd practically end up with life in prison. + +I want to share excerpts of the DOJ's press release here, just because it's so good: + +\---------------------------------------------------------------------------------------------------------------------------------------- + +“We allege that these defendants and their co-conspirators lied to banks to obtain billions of dollars that they then used to inflate the stock price of a number of publicly-traded companies,” said U.S. Attorney Williams. “The lies fed the inflation, and the inflation led to more lies. Round and round it went. **In one year, Hwang allegedly turned a $1.5 billion portfolio and pumped it up into a $35 billion portfolio. But last year, the music stopped. The bubble burst. The prices dropped. And when they did, billions of dollars of capital evaporated nearly overnight.**” + +\[...\] + +**Today’s charges highlight our commitment to making sure the investment arena remains free from fraudulent activity of all kinds.**”   + +\[...\] + +**Last year, when the prices fell, Hwang’s positions were sold off and he could no longer manipulate the prices, and billions of dollars of capital evaporated nearly overnight.** + +\[...\] + +**The indictment further alleges that in order to get the billions of dollars Archegos needed to sustain this market manipulation scheme,** **Hwang and his co-conspirators lied to and misled some of Wall Street’s leading banks about how big Archegos’s investments had become, how much cash Archegos had on hand and the nature of the stocks that Archegos held. As alleged, they told those lies so that the banks would have no idea what Archegos was really up to, how risky the portfolio was, and what would happen if the market turned.** + +As alleged, just over a year ago, the market turned and the stock prices Hwang and his co-conspirators had artificially inflated crashed, **causing immense damage to U.S. financial markets and ordinary investors.** In a matter of days, the companies at the center of Archegos’s trading scheme lost more than $100 billion in market capitalization, Archegos owed billions of dollars more than it had on hand, and Archegos collapsed. Market participants who purchased the relevant stocks at artificial prices lost the value they believed their investments held, the banks lost billions of dollars, and Archegos employees, many of whom were required to invest 25% or more of their bonuses with Archegos as deferred compensation, lost millions of dollars. + +\---------------------------------------------------------------------------------------------------------------------------------------- + +This is a very big deal. It's also definitive proof that SHFs lie about how much money they've been making by overly inflating their positions. + +I remember in the past, sometimes shills would post articles that said "Kenny made 'x' amount of money recently," or "this month was such a profitable month for 'x' SHF. Apes aren't making a dent on SHFs' portfolios!" I knew it was all BS. But then those same shills try to gaslight you, saying things like "oh, you're against reality" or "get back to the real world". Well, this is the real world, bitches. The DOJ indicted this financial terrorist for racketeering, fraud, and artificially inflating his positions. Moreover, our decision to call these guys financial terrorists is completely warranted. The DOJ literally just stated in the press release, I quote, "the market turned and the stock prices Hwang and his co-conspirators had artificially inflated crashed, causing immense damage to U.S. financial markets and ordinary investors". Financial terrorism defined. + +Also in February, it was revealed that among the many SHFs the DOJ is investigating include Melvin Capital as well as Citron Research. Melvin Capital recently issued an apology to its investors and has been doing shady things to hide from their past. + +Usually, the DOJ goes for the less significant ones first, once they catch a few rats that snitch, they can then work their way up the chain and expand the investigation. + +A lot of shady, unexplained behavior has happened since the DOJ investigation has gone on, from buildings burning down rumored to have in possession documents related to criminal misdeeds of brokers/SHFs, to executives inexplicably stepping down from Citadel and other institutions. + +After Michael Bodson recently announced he's stepping down from his position as President of the DTCC, along with billionaire Archegos owner, Bill Hwang, being indicted, I made this comment trying to connect the dots as to why these big players are now hiding from their past and/or stepping down from their positions: + +https://preview.redd.it/5wly0a7nbnw81.png?width=679&format=png&auto=webp&s=f4ae87f503ca7153ac82c77775847599aa826e2c + +According to [computershared.net](https://computershared.net/), nearly 35% of the float has been locked by Apes within 8 months \[September, 2021-April, 2022\], and over 70% of ALL outstanding shares have been locked. + +The fact that over 70% of all outstanding GME shares have been locked should be raising alarm bells for the gov., which would explain why serious action is being taken now. If the DOJ's data scientists determine there's a too high risk of the float potentially getting locked by the end of the year, they will initiate MOASS before then. If they have to shut down Citadel and force close positions before all the shares get registered, they will. They're not standing idly by while 100% of the float gets locked. Financial terrorists like Kenneth Cordele Griffin are threatening the stability and longevity of the entire U.S financial market, and consequently, the global economy. Kenny & Co. are a threat to national security, a threat that will be neutralized by the DOJ before they let the float get 100% locked. + +https://i.redd.it/bvuuk8utbnw81.gif + +\---------------------------------------------------------------------------------------------------------------------------------------- + +Additional Citations: + +Buda, Andrzej. “Life Time of Correlation between Stocks Prices on Established and Emerging Markets.” *Arxiv.org*, Cornell, May 2011, [https://arxiv.org/ftp/arxiv/papers/1105/1105.6272.pdf](https://arxiv.org/ftp/arxiv/papers/1105/1105.6272.pdf). + +Department of Justice (April 27, 2022). *Four Charged in Connection with Multibillion-Dollar Collapse of Archegos Capital Management*. Available at: [https://www.justice.gov/opa/pr/four-charged-connection-multibillion-dollar-collapse-archegos-capital-management](https://www.justice.gov/opa/pr/four-charged-connection-multibillion-dollar-collapse-archegos-capital-management). + +“Schedule 13D.” *SEC Filing | RC Ventures.*, SEC, 7 Mar. 2022, [https://www.sec.gov/Archives/edgar/data/0000886158/000119380522000426/sc13d13351002\_03072022.htm](https://www.sec.gov/Archives/edgar/data/0000886158/000119380522000426/sc13d13351002_03072022.htm). + +Schultz, Paul, Short Squeezes and Their Consequences (February 3, 2022). Available at SSRN: [https://ssrn.com/abstract=4025226](https://ssrn.com/abstract=4025226) or [http://dx.doi.org/10.2139/ssrn.4025226](https://dx.doi.org/10.2139/ssrn.4025226). + +“SEC Filing: Gamestop Corp..” *SEC Filing | Gamestop Corp.*, SEC, 8 Dec. 2021, [https://news.gamestop.com/node/19686/html](https://news.gamestop.com/node/19686/html). + +“SEC Filing: Gamestop Corp..” *SEC Filing | Gamestop Corp*., SEC, 17 Mar. 2022, [https://gamestop.gcs-web.com/node/19651/html](https://gamestop.gcs-web.com/node/19651/html). +https://www.newswire.ca/news-releases/drone-delivery-canada-announces-update-on-healthcare-projects-886186332.html + + +http://www.baystreet.ca/stockstowatch/9624/Drones-Could-Soon-Dominate-the-Delivery-Market + +https://www.theglobeandmail.com/canada/alberta/video-alberta-drone-delivery-pilot-project-gets-attention-of-world-health/ +Today I bought 100 shares of GME during the run up this morning and sold the $155 strike expiring this Friday for $7.00 per share. If my shares get called away then I’ll have made about 8% profit in 3 days. If not, then I’ll just sell another weekly just a little OTM. Probably will roll with this strategy until my shares get called away since the premiums are so high still. I’m bullish on GME (also that the apes will keep it inflated) so I’m okay holding and selling calls below my basis if the underlying drops +Callling out Westpac in particular because I'm a customer, but I'm sure other banks do this too. Commbank at least sends allows codes to be sent to its own app. + +Westpac need to allow other MFA options such as Authenticator apps. It's 2022. SMS verification is weak (also a pain in the ass if you're travelling and not using your Australian sim). + +Oh also. They still have a max character limit of the passwords capped at 6.... +Do you hear that? + +The bells are ringing. + +If you haven’t been paying attention to the markets the last 6 hours, you should be. BNB is on it’s breakthrough, and it's the perfect time to take a dive into a project with passion... and $HAPPY has given us plenty to be looking forward to over the next few weeks.. + +**With a solidified community consisting of over 70k holders, and a market cap of $17m**, the opportunity and potential should be enough to make your eyes wide and your mouth wet. + +BNB is on an upwards trajectory, and I doubt it’s stopping for gas anytime soon. So let's ride this wave and take the opportunity to surf on a project with solid fundamentals that can utilize the moment and **push to a new high.** + +You might be wondering why Happy? + +With an experienced doxxed founder at the helm; **the project stands out as a solid team full of experience to lead a mission to heights yet seen in the crypto market**. Just last week the team doxxed yet another member with extraordinary credentials. It just keeps getting better for Happy. + +Did I forget to mention the founder is in LA right now, securing partnerships (**Jesse Wellens - 10M YT subs**) that would make your knees WEAK? Yeah, you heard that right. You want marketing? Happy has that covered. + +But it gets better. + +Just yesterday the founder announced a new utility for the token - HappySwap, a place to buy and sell direct from the site. Furthermore a new NFT marketplace is set to roll out mid June & additionally there might be a way to partner with professional centres to provide online sessions to Happy holders. + +Next donation is on Friday and I hear it's going to be a very important one. You can tune into their livestream, and see for yourself. + +Personally, i'm excited for what's to come. + +💛 [Website](https://www.thehappycoin.co/) +Hello all !! +I recently proposed to my finance and we had a talk tonight about getting a joint account and sharing everything when we get married. I wanted to see how some other people do it. How many accounts do you have and if you make more than your significant other how does that make you feel. New to doing everything together and know that it’s a team effort. But also know that your dreams and there’s can be sometimes different +https://twitter.com/Fxhedgers/status/1438008812569464836 + +>CHINA TELLS BANKS EVERGRANDE WON'T PAY INTEREST DUE SEPT. 20 + +https://twitter.com/Fxhedgers/status/1438016209765605377 + +>FITCH WIRE: FITCH DOWNGRADED CHINA EVERGRANDE GROUP TO 'CC' FROM 'CCC+' ON 7 SEPT, INDICATING THAT WE VIEW A DEFAULT OF SOME KIND AS PROBABLE + +More context: + +https://www.reuters.com/business/fitch-says-possible-china-evergrande-default-may-have-broader-effects-2021-09-15/ + +>Rating agency Fitch said that numerous sectors could be exposed to heightened credit risk if China's No.2 property developer Evergrande Group (3333.HK) were to default, although the overall impact on the banking sector would be manageable. + +>Evergrande is scrambling to raise funds to pay its many lenders and suppliers, as it teeters between a messy meltdown with far-reaching impacts, a managed collapse or the less likely prospect of a bailout by Beijing. read more + +>Regulators have warned of broader risks to the country's financial system if the company's $305 billion of liabilities aren't contained. + +>"We believe a default would reinforce credit polarisation among homebuilders and could result in headwinds for some smaller banks," Fitch said in a note late on Tuesday. + +>Fitch downgraded China Evergrande Group to "CC" from "CCC+" on Sep. 7, indicating that it viewed a default of some kind as probable. + +>On Tuesday, Evergrande said it has engaged advisers to examine its financial options and warned of cross-default risks amid plunging property sales and lack of progress in asset disposals. read more + +>Fitch said 572 billion yuan ($88.8 billion) of Evergrande's borrowings were held by banks and other financial institutions, but banks may also have indirect exposure to the developer's suppliers, who are owed 667 billion yuan for goods and services. + +>"Smaller banks with higher exposure to Evergrande or to other vulnerable developers could face significant increases in non-performing loans (NPLs), depending on how any credit event involving Evergrande develops," Fitch said. + +>But the agency added a recent People’s Bank of China sensitivity test showed the average capital adequacy ratio of the 4,000 banks in the country would only drop modestly if the NPL ratio for property-development loans were to rise by 15 basis points. + +>Evergrande's Hong Kong-listed stock slipped as much as another 5% to HK$2.82 on Wednesday morning, a fresh low since Jan 2014. + +>Its property management unit (6666.HK) and EV unit (0708.HK), however, bounced as much as 10.4% and 9.3%, respectively. + +>In the debt market, Evergrande's Shanghai traded July 2022 bond fell 5.6% to 28.3 yuan, while its dollar bond due March 2022 dropped 20% to 27.502 cents, yielding more than 500%. + +>Fitch also said the risk of significant pressure on house prices in the event of a default would be low, and it expected the government would act to protect households’ interests to ensure home deliveries. + +>On Wednesday, roughly 40 protesters stood near the entrance at Evergrande headquarters in Shenzhen, prevented from going inside by dozens of security personnel. + +>This followed chaotic scenes at the headquarters two days earlier, as disgruntled investors crowded its lobby to demand repayment of loans and financial products. + +>Some videos circulating on Chinese social media also showed what were described as Evergrande-related protests elsewhere in China. +So I work at a casino, I've worked there for 7 years in housekeeping. Ive invested so much time and work here getting a good reputation and my annual raises have added up over the years. I don't love it but I've had FAR worse employers. + +If I left my job its unlikely I will be rehired and my workplace is one of very few in the area that pays a decent wage for someone with no real skills. + +I am terrified of leaving because I know all that awaits are minimum wage jobs and bosses that won't treat me as well as they do at the casino....yet I know that getting covid19 is only a matter of time. + +It feels like someone is pointing a gun at me but they won't tell me when they are going to shoot or how lethal of a spot they will aim. + +I just cant believe they allowed casinos to be open, they should be shut down for a few years and I should be getting unemployment. And I'm not saying that because I'm lazy. + +I have too much into my job and there are no good employers in my area...its way too much risk for me to leave what little I have. + +Anyone else just plain stuck at a high risk job just waiting for your number to be pulled? + +The worst part is I'm just stuck here to continue to work hard and sweat for my poverty level wages and I could bring this back to my father who is over 50 +I've always wanted to write a DD. Now's my chance! Come on in and see wtf is going on because I uncovered a LOOOOOOOT more than I bargained for. + +I did the top two posts today on the FDIC meeting highlights. This meeting was to discuss strategy, but my goal was to learn details about WHO/WHERE was at risk, HOW bad is it, WHAT is being done now, and WHEN will this happen. Not all questions are answered, but I learned a LOT by reading between the lines and cataloguing the slipups they had while discussing the impending market collapse. I honestly thought this was going to be a fairly useless discussion, but it unlocked SO much more than I anticipated. + +If you want to watch the entire thing yourself, here is the [source](http://fdic.windrosemedia.com/index.php?category=Systemic+Resolution+Advisory+Committee) to the FDIC meeting. I skipped to 1 hour 20 minutes, roughly, at the recommendation of another Redditor, to save on time, but I don't believe anything from that period is likely to fundamentally change my thesis here. + +# WHO/WHERE is the risk? + +Let's start this off with the who. A CCP is at risk. + +CCP is a [Central Counterparty Clearing House](https://www.investopedia.com/terms/c/ccph.asp) that manages foreign/European equities. Basically the DTCC for Europe. I cannot tell which CCP is at risk from this meeting, but I found a list of the CCPs in Europe. + +[CCPs in Europe \(there are \~7 more but they're smaller and don't fit my thesis\)](https://preview.redd.it/p8jwviacxv8a1.jpg?width=797&format=pjpg&auto=webp&s=be693ee86a92d6a85fa85a326058bcf77554d80d) + +I highlighted this info as it's relevant to the situation. The NASDAQ is interesting because that's an American company and the FDIC is having involvement in this, implying they could be a strong contender for who's going under. However, there is a German banking industry woman in this group from Europe who is tasked with assisting in some way, but she doesn't speak much. This leads me to believe it could be a German clearing company at risk. + +Now, obviously, the defaulting member is Credit Suisse. We know they're going down. Everyone knows it. Here's a bit confirming that a CCP is indeed going down. They don't expect it to partially come apart. It's going to fully default. + +https://reddit.com/link/zyevfz/video/xppj0ktkzv8a1/player + + **I could not find information regarding who Credit Suisse's clearing corporation is, so if anyone knows that, please let me know. That's a huge piece of information needed in this.** + +The head of financial stability in Europe went on to explain how a CCP can default. + +[CCP default quote](https://reddit.com/link/zyevfz/video/lpqecx16yv8a1/player) + +CCPs face only two major systemic risks: “Counterparty credit risk and operational failure risk.” Waterfall occurs where they use a pre-funded pool, then reduce margin debt on members, then tear up the contracts, making it impossible for them to go bankrupt. But, those contracts are relied upon as hedges for their members, so doing that can cause a cascading default of all members, if they aren’t liquid enough aka they’ve rehypothecated the contract too much. This likely means that Credit Suisse is the defaulting bank and the CCP is at risk of defaulting all other members relying on the existence of Credit Suisse. Credit Suisse is enormous and if they're the #1 bank inside the member org, it won't be possible for the smaller banks to absorb all their losses, causing the contract tearing, and ultimately the default of all members. If the CCP goes down due to everyone going down, that brings a ton of systemic risk to the US, who relies on those parties for international hedging. + +Non-default, operational losses are glossed over in less than 20 seconds after this video ends and goes back to waterfall default possibilities, implying it is the counterparty credit risk. + +The key note here is that a CCP defaulting entirely is extremely challenging. To say that a CCP cannot actually go bankrupt and then to still say that there is discussion of resolving an entire CCP is quite the statement. + +I'm personally surprised that Europe is pushing the US to fix this problem. To me, that implies a LOT more systemic risk is at work here as the whole of Europe either can't or won't fix their own problem. + +# HOW bad is it? + +This is where things get hairy and where my two posts went viral on our subreddit. I counted SO many instances of intense fear keywording that they just gloss over. Keep in mind this meeting is supposed to be under the guise of "possible future threats", but everyone couldn't help but directly mention the imminent threat that is the real reason for this. I'll start it off with the head of the committee (I think he's the head at least) saying this: + +[Profound indeed](https://reddit.com/link/zyevfz/video/gf8ntl49zv8a1/player) + +“This is the one that really stands out as clearly a profound systemic consequence that we’ve arguably made the least progress.” + +And then the US committee saying they are powerless: + +[No power](https://reddit.com/link/zyevfz/video/v8fn8gnj1w8a1/player) + +“We don’t have dedicated loss absorbing resources reserved for CCP context.” + +This is a gamechanger. I never thought about this issue. If an international risk to domestic banks defaults, the US has ZERO authority to bail them out. The rules and regulations for financial stability were all built upon domestic threats to stability, not foreign. They go on to say they would need to change those rules, which can only be done via law passing, which is unlikely to be done in time, but they do seem to want to fast track that possibility. The above Bank of England guy's whole speech is trying to convince the US to bail them out. + +And, of course, my original videos. I've run out of space to post videos so these will be links since I already posted them elsewhere. + +[https://www.reddit.com/r/Superstonk/comments/zy78oo/fdic\_saying\_i\_do\_think\_its\_hard\_to\_get\_a\_lot\_of/](https://www.reddit.com/r/Superstonk/comments/zy78oo/fdic_saying_i_do_think_its_hard_to_get_a_lot_of/) + +"I do think it's hard to get a lot of demand for transparency right now, in this sort of period of peacetime, but that is going to flip and it's going to flip faster than we saw in 2008." + +The first two can be written off as circumstantial on their own and related to saying that if it were to happen, it would be bad. This guy is outright saying it's coming and it's coming hard. + +And then of course, there's my other video + +[https://www.reddit.com/r/Superstonk/comments/zy8rge/fdic\_saying\_you\_dont\_want\_a\_huge\_run\_on\_the/?sort=confidence](https://www.reddit.com/r/Superstonk/comments/zy8rge/fdic_saying_you_dont_want_a_huge_run_on_the/?sort=confidence) + +"You don't want a huge run on the institutions, and, and they're going to be." + +Finally, since I only have one video left, I'll just quote this one: + +“Part of the challenge here is there isn’t a built in strategy \[for multi institution failure\]” No plan was made for this scale of collapse. They were expecting a Lehman moment but are getting a Lehman x2+. + +There is no avoiding it, these people know the disaster is coming and the major issue is that they have ZERO jurisdictional power to do anything about it and it seems like Europe doesn't know how to fix it either. They all want the US to solve this but we don't have the means to supply the resources necessary. + +# WHAT is being done now? + +Lots and lots of transparency, guys. They're gonna come out and tell us outright that we fucked up and we're gonna fix it....... HAAAAH. No. They said transparency a bunch of times in this video but then also said "need to know" after each time. They are covering this up, big time. + +“In my experience, they’re not stabilizing. If you have to make a stabilizing statement, you’re in real trouble. I think part of that means there’s a lot of pre-work that needs to be done so that those statements don’t seem like a reach.” + +“What can be done ahead of time. It’s all going as planned. Hands off the wheel.” Referring to the kind of tactic JPow has been using with the FOMC meetings and the "soft landing". + +Basically, they explain how they intend to make it seem like everything is fine as they lead up to the collapse of Credit Suisse, which is being done now, honestly. We've seen all the articles. Their stock price is still above $3. + +They go on to explain how the FDIC bailout/bailin (I hate the term Bail-In soooooo much. A bail-in is basically forcing people in the defaulting bank to front the money from their own accounts.) fund works, which of course only works for US parties, but that they are already expecting this to occur nationwide, as bankruns have been mentioned multiple times. + +[DIF Fund](https://reddit.com/link/zyevfz/video/idl68dbq4w8a1/player) + +"The DIF is a source of temporary liquidity. Large, prefunded, and backstopped by the US Treasury… The scale of the liquidity available to us in the DIF is, in some ways, greater than the scale of liquidity needed to resolve these big banks.” + +This is where they say the banks will fail due to the bank runs and that their fund is "sort of" bigger than the liquidity needed to bail out a bank. I'm guessing the "sort of" is because of US Treasuries, but that part had me worried. I don't think they have the means to stop this trainwreck and they're intentionally using verbiage to avoid making people think they do. + +# WHEN will this happen? + +In short, it will be “Compressed over a weekend.” This is going to happen on a weekend to ensure complete chaos doesn’t ensue on the open markets. They are looking for alternative solutions that allow them to spread the damage out over time, but expect it to occur over a weekend. + +“In these kinds of compressed time frames, for these scales of institutions, it could be quite difficult.” The question asker leaked that this is going to happen on a compressed time frame. They expect this to happen hard and fast and that no proper due diligence will be possible for the acquiring bank to ensure they aren’t buying something that will put them at risk. Speaking of, one of their strategies is a merger. They say many times there are very few entities that can absorb an institution of this size and probably won't want to. + +That's really all they leaked as far as timelines go. It's going to come on a weekend and it's going to hit hard. It seems like they are keeping other banks in the dark on this as the rep thinks they won't be able to do their DD on the faltering bank. I find that hard to believe. They all know each other. + +[Put\/Call](https://preview.redd.it/dwz8vcra6w8a1.png?width=960&format=png&auto=webp&s=7e54fe67a839486ae2823bbd062970f3650221f0) + +This image is on the [front page right now](https://www.reddit.com/r/Superstonk/comments/zy3usk/can_someone_explain_what_am_i_looking_hereexplain/). It is showing a MAJOR spike in the last half of 2022. Perhaps right around when Credit Suisse started buckling. This, to me, implies the collapse is damn near tomorrow. There was plenty of people in the meeting saying this is coming fast, so I suspect this the "people in the know" buying the collapse. Buckle up people. 2023 is gonna be RED. + +# BONUS GME SPECULATION + +I wish I could post this video, but you'll have to make do with the quote, as it's not as important as the other videos. + +**“If they’re failing, they have some** ***specialized business*** **that they’re involved in and that’s what’s impaired… and that makes preserving franchise value significantly more difficult.”** + +Could this specialized business be a whooooooole lot of GME shorts? When I saw this, it made me think Citadel and their bank were going under, but that was nixed when the CCP slides started. + +This is entirely, and supremely, speculative, but it stood out BIG time when I heard it. It was the only point in the entire meeting that sounded like it could be referencing GME indirectly. + +# CONCLUSION + +I am deeeeeeeeeeeeeply concerned with the immediate future of the markets. I'm talking January or February. This meeting was like watching the next Avenger's movie with how many alarm bells were ringing. The fact that there was so much discussion of there being NO PLAN for this kind of event and no plan to push a bill to gain the regulatory capabilities to solve it makes me think they are stuck and all they can do now is pretend like everything is fine as they handle the crisis moment to moment. + +Meanwhile, I'm zen AF with my GME. + +Feel free to include any other information you found that directly addresses my key headlines or correct my information. This was a doozy to take in and write up. Hope y'all get something out of it. +I am in a job with monthly paycheck and have investments in the Indian markets. Wanted to share my method for filling ITR-2 and hope it helps some members in this community who are in a similar situation. I keep a checklist of the main items to be declared and get exemptions for. This makes the whole thing smooth and anxiety-free. + +* Login to e-filing website and download the pre-filled xml from "My Account" -> "Download pre-filled XML". +* Download the Java utility and load the pre-filled XML. It takes care of automatically filling your personal details. I think it also fills data from Form26AS (Bank deposit interest amounts etc). +* Filling ITR2 takes time and you might not finish in one go. Keep saving your work using the "Save Draft" button periodically. +* Fill the salary details from Form-16 issued by your employer, in Schedule-S. +* For mutual fund gains, download consolidated statement from CAMS website. Key points - STCG on Equity mutual funds is taxed@15%, LTCG is 10% (< 1 lakh is exempt). STCG on debt funds is taxed@slab, LTCG (>3 years) is taxed@slab with indexation. These details will go in Schedule-CG. +* For stocks gains, download consolidated statement from your broker's website. These details too go in Schedule-CG. +* Note: Dividends from Indian shares is not taxable till 31st Mar 2020. Simply declare this amount in Scheule-EI +* Make sure to deduct any TDS paid to Bank for deposits. Get this from Form-26AS. Bank would have deducted 10%, this amount should go in TDS page. The utility will calculate remaining tax automatically. (It might also add some extra amount as advance tax if you have not paid it already) +* Asset declaration should be done in Schedule-AL. These amounts are not taxed (They better not in future too!) +* Investments that are exempted from tax go in ScheduleVIA. Medical insurance premium goes in Schedule80D. +* Balance tax can be paid by clicking on "e-pay Tax" button in TTI page. After paying, enter challan details in IT page. + +**Finally:** + +* When all done, verify the amounts in TI/TTI pages. If you have filled everything correctly and paid the dues, balance tax payable would be 0. +* Use the Save button to generate final XML file. Upload this file on the e-fling website. Choose aadhar method for return verification. You will get the acknowledgement via email almost instantly. + +**Disclaimer:** + +Do not think of above as professional advice. Each one's requirements/situation is different. Your's can vary from above. + +&nbsp; +Edit1: Formatting +Edit2: Corrected the point about declaring dividend income. +Someone tried to scam me in a way I haven't heard of before. Here's what happened: + +I posted an item for sale around 9:30 pm. About 30 minutes later, I get this text: + +>Hello!! I wanna Buy your *[CL post title]* +>. Can i call you? + +The fact that they asked if they could call instead of just calling didn't seem too odd since it was after 10pm, but the timing of the text so soon after I posted the ad set off a red flag. + +The text came from my area code, so I thought maybe it was legit. + +I replied "sure" and then they texted: + +>okk Bro... But..Now a days there are many scammer in Craiglist. +> So i will verify you. +>I just sent you a scammer verification G-code on your phone inbox. +> So Tell me the code.Then i call you now. + +Right at the same time, I get this: + +>*[6 digit number]* adalah kode verifikasi Google Voice Anda. Jangan bagikan kode ini kepada siapa pun. *[Google url]* + +This text came from Google's number they use to verify your number for Google Voice services. I don't even know what language this is. + +Coincidentally, I had re-verified my number about a week ago, so right above this text, I could see this one from the same number: + +>*[6 digit number]* is your Google Voice verification code. Don't share it with anyone else. *[Google url]* + +So the scammers were hoping I wouldn't understand that giving them the 6 digit number would give them access to my Google Voice account, which then could probably be used to access my email or other accounts. + +Sending the Google verification text in a foreign language was an interesting twist, as the recipient wouldn't understand that it says "Don't share it with anyone else." + +They sent one more text: + +>Tell me the code plz..?? + +Then I blocked the number. + +Anybody else seen this? +Welcome to the **/r/EthTrader** Daily Discussion thread. The thread guidelines are as follows: +*** + +- Discussion topics include but are not limited to general discussion on Ethereum, details related to events of the day, technical analysis, alternative Ethereum projects, and minor questions. +- Important content should be submitted as a separate post. +- Be excellent to each other. + +*** + +Thank you in advance for your participation. Enjoy! + +Looking for the next household name from BSC? This is it! + +Endorsed by former Light Heavyweight Champion of the world and UFC Hall of Fame inductee Rashad Evans! That man is as tough as they come. No matter what gets thrown in his way he just bulls straight along. $ULTRA is just as tough and twice as bullish! The greatest community in deFi! Together Ultra-Rashad is an unstoppable force! + +🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥 + + +🪙 Tokenomics 🪙 + +🥊 4% to liquidity locked for 79 years + +🥊 4% reflected to holders! + +🥊 Passive income & ever increasing price floor + +🦺 Safety 🦺 + +💥 Safemoon back door code removed + +💥 Certik Audit + +💥 Solidity Audit + +💥 Zero threats found + +💥 Third Audit in progress + +💥 Devs Doxxed + +💥 Contract Renounced + +💥 Anti scam informational videos + +💻 Developements 💻 + +🥊 LP Staking + +🥊 NFT Marketplace (service charge free) + +🥊 RUBIC cross chain integration + +🥊 Weekly AMA’s + +💰 Marketing 💰 + +💥 CMC CG and LBANK Listed + +💥 Tier 2 CEX negotiations underway + +💥 Mainstream press coverage + +💥 Benzinga crypto AMA (YouTube) + +💥 9thWonder PR partnership + +💥 UFC Legend Rashad Evans collab + +💥 2nd celebrity influencer incoming + +💥 Twitter giveaways + +💥 Tik tok announcement today + +Blink and you’ll miss this insane knockout punch opportunity! Better than a bank! Ultrasafe! + +🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥 + +Website: https://ultrasafe.finance + +Chart: https://www.dextools.io/app/pancakeswap/pair-explorer/0x48bac97d5e3116626a56704be7399e1cb593a945 + +Buy Now: https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x0b3f42481C228F70756DbFA0309d3ddC2a5e0F6a + +BSCscan: https://bscscan.com/address/0x0b3f42481c228f70756dbfa0309d3ddc2a5e0f6a + +Telegram: https://t.me/UltraSafeOfficial + +Discord: https://discord.gg/nq63ERAt + +Twitter: https://twitter.com/ultrasafebsc?s=21 + +Reddit: https://www.reddit.com/r/Ultrasafe/ + +Instagram: https://www.instagram.com/ultrasafe.bsc/ + +Facebook: https://m.facebook.com/groups/503406880704284?group_view_referrer=search +Looking for the next household name from BSC? This is it! + +Endorsed by former Light Heavyweight Champion of the world and UFC Hall of Fame inductee Rashad Evans! That man is as tough as they come. No matter what gets thrown in his way he just bulls straight along. $ULTRA is just as tough and twice as bullish! The greatest community in deFi! Together Ultra-Rashad is an unstoppable force! + +🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥 + + +🪙 Tokenomics 🪙 + +🥊 4% to liquidity locked for 79 years + +🥊 4% reflected to holders! + +🥊 Passive income & ever increasing price floor + +🦺 Safety 🦺 + +💥 Safemoon back door code removed + +💥 Certik Audit + +💥 Solidity Audit + +💥 Zero threats found + +💥 Third Audit in progress + +💥 Devs Doxxed + +💥 Contract Renounced + +💥 Anti scam informational videos + +💻 Developements 💻 + +🥊 LP Staking + +🥊 NFT Marketplace (service charge free) + +🥊 RUBIC cross chain integration + +🥊 Weekly AMA’s + +💰 Marketing 💰 + +💥 CMC CG and LBANK Listed + +💥 Tier 2 CEX negotiations underway + +💥 Mainstream press coverage + +💥 Benzinga crypto AMA (YouTube) + +💥 9thWonder PR partnership + +💥 UFC Legend Rashad Evans collab + +💥 2nd celebrity influencer incoming + +💥 Twitter giveaways + +💥 Tik tok announcement today + +Blink and you’ll miss this insane knockout punch opportunity! Better than a bank! Ultrasafe! + +🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥 + +Website: https://ultrasafe.finance + +Chart: https://www.dextools.io/app/pancakeswap/pair-explorer/0x48bac97d5e3116626a56704be7399e1cb593a945 + +Buy Now: https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x0b3f42481C228F70756DbFA0309d3ddC2a5e0F6a + +BSCscan: https://bscscan.com/address/0x0b3f42481c228f70756dbfa0309d3ddc2a5e0f6a + +Telegram: https://t.me/UltraSafeOfficial + +Discord: https://discord.gg/nq63ERAt + +Twitter: https://twitter.com/ultrasafebsc?s=21 + +Reddit: https://www.reddit.com/r/Ultrasafe/ + +Instagram: https://www.instagram.com/ultrasafe.bsc/ + +Facebook: https://m.facebook.com/groups/503406880704284?group_view_referrer=search +There would be quirks with a new portal. Thought it's good if we have a dedicated thread where we can share the problems, workaround and something you like as well. + +\- Most banks launch a new portal and slowly migrate users to the new one, while keeping the old portal still active. This is what should have been done instead of a big bang launch. That would have avoided the embarrassment to the govt and the IT vendor, that was caused at the time of the launch. + +\- I was greeted with a page saying my profile is 75% complete. Didn't change anything, other than dropping my closed bank accounts. Now it shows the profile as 70% complete! By continuing to retain valid bank accounts how am I supposed to have dropped 5% information? + +\- The data migration of the bank accounts does not look proper. The accounts that were validated and enabled for refund processing are now shown as "not validated". Strange. Further all accounts are shown disabled for refund processing, whereas in the old system I did have an account enabled for refund. + +\- A certain bank account, which was validated in the old system, showed status as "cannot be validated" (no explanation whatsoever of why; leave alone explanation of what happened to earlier system's status as "validated"). + +\- For above case, it did provide an option to "revalidate". On clicking "revalidate" presumably the process to revalidate has been triggered. But the status still shows "cannot be validated". Now it's upon me to remember that I have made a validation request and wait for that status to change or is it telling me this status because the account can't indeed be validated (for whatever mysterious reasons that the system anyway doesn't tell us, but that apart). + +\- BTW the account details show only the bank logo, not bank name! If you have held accounts with multiple banks in the past, all those accounts would be lurking there and you have to identify them by only last 4 digits of account number and an overly tiny logo! I did face difficulty in identifying them. At least having the bank's name would have helped. + +\- This is not a problem as such, but another example of counterintuitive UI. If you add a bank account, it asks you to type your account number twice and when they match, it shows a pretty bold and prominent message saying the account numbers match and the message persists throughout the interaction. It would have been enough to just show a message if they don't match, rather than when they do match. + +\- It is highlighting differences (mostly just way of writing address or just case of the letters) between PAN and Aadhar details. Further it shows buttons that give you an impression that getting those details corrected is in the system itself. On exercising those buttons you are taken to respective portals to update those. PAN and Aadhar have historically been two different databases and now that their linking is mandatory, why bother the user with these minute differences? +📣 $LOUD - Loud Market Launching the first Music NFT Marketplace 🔥 || 24th November ✅ || UK Registered Company ✅ + +Loud Market are launching the world’s first NFT marketplace for music tomorrow on the 24th of November - all purchases will be made in $LOUD. Over 200 musicians have signed up already to release on launch day! + +Loud Market Ltd is a registered UK company (Company no: 13342210) with fully Doxxed Team! + +The $LOUD token ATH is $22,500,000 market cap, currently at $8,000,000. + +$LOUD - ETH bridge coming out before December + +❗️ What will Loud Market do? + +Loud Market is here to redefine the relationship creators have with their music by delivering the bridge between the fast-growing NFT landscape and the established music industry. We are for the artists. 100% of the artists money will go straight to them. + +❗️ The problem: + +Musicians only get 12% of the money made by the Music Industry! + + +🗳 Telegram : https://t.me/LoudMarket +💻 Website : https://loudnft.co/ +📝 Contract: 0x3d0e22387ddfe75d1aea9d7108a4392922740b96 + +📣 Why Will LOUD Be Huge? 📣 + +✅ Marketplace launching Tomorrow! +✅ Over 200 musicians signed up! +✅ $LOUD - ETH bridge coming out before December +❗️ $LOUD will be bridged to ETH at the end of November opening up the token to all ETH whales and UniSwap investors! +✅ KYC + AUDIT +❗️ Join our telegram to get the links for these! 100% SAFE +✅ Connections with artists who are excited for our platform +LOUD already has contact and has spoken with artists who are excited to upload their own songs onto our platform! We now have a bigger marketing budget and we will be working towards getting big name endorsements, especially after release. +✅ Dedicated team which is doxxed with a LEGAL DOCUMENT +❗️ We are completely doxxed! We have our full names and even address posted online with a government business registration so you know its not fake! +✅ LTD Established +❗️ This gives us legal obligations to not scam and do this project correctly. +✅ Low Tax +❗️ There is only a 8% tax on LOUD, none when used in the marketplace +❗️ This will be halved when the ETH Bridge is created + +This token is hugely undervalued at $8m MC. + +JOIN US NOW! +🗳 Telegram : https://t.me/LoudMarket +💻 Website : https://loudnft.co/ +📝 Contract: 0x3d0e22387ddfe75d1aea9d7108a4392922740b96 +A friend of mine recently declined a pay raise because he believes that the higher income would somehow result in him making less money due to taxes. I didn't get into too much details with him, but he mentioned this is a result of Earned Income Tax Credit. I know the US tax system is based on marginal rates and there's no way you can "earned less by making more", but is there ANY validity to his thinking? Is there any way you can loss money by earning more or vice-versa? + +Edit: Thank you all for your thoughts and opinions. All of you were very helpful. I think I may suggest that my friend speak to a tax professional or a CPA. I agree with (most) of you that an increase in income likely won't negatively affect him. + +Edit2: Okay here's what I learned today, and I hope some of you don't have the same thoughts as my friend; + +1. You can't lose money from taxes by making more (marginal tax system). + +2. You can't lose money from Earned Income Credits by making more. The system decreases from a max at a rate of $0.07 per $1.00 earned. + + +3. You don't lose money by working OT. OT is taxed at the same as regular wages.Your company is probably calculating your tax withholding wrong. + +4. It takes a VERY unique situation that is heavily dependent on government benefits to "lose money by making more". If you think this is happening you should consult a tax expert. +Dad passed away this last Sunday in the ICU after many years of battling heart failure, kidney disease, diabetes, and other slew of medical issues. He was 82 (I’m 26 and he had me at 55). It is my mom and my two half-brothers. + +Dad passed away without a will but had a life insurance plan of about \~$60k with my mom being the direct beneficiary. Dad's funeral and burial will cost about $18.9k, and Dad has two credit cards totaling $18.2k, leaving the final payout to my mom of \~22k, excluding pending medical payments from Dad's hospital stay. + +Both of my brothers will not dispute that all of the assets should go to my mom. The synopsis of this post is to figure out how to reduce debt payments that need to be paid from the estate and the next steps with probate or what to do. I have no idea what I'm doing and am trying to reduce the financial burden on my mom. + +Any advice? + +Thanks all, + +Grieving Son +In 2012, a palliative care nurse wrote a book about her experiences spending time with folks who were in their last 3-12 weeks of life. She would periodically ask them about their regrets and over time had enough material to compile it into a book. + +I won't share a link in the interest of avoiding supposed "self promotion" or "advertisement" but the author's website is just an easy Google search away. + +Anyway, the top 2 of the 5 really stand out from a FIRE perspective: + +1. I wish I’d had the courage to live a life true to myself, not the life others expected of me. + +"This was the most common regret of all. When people realize that their life is almost over and look back clearly on it, it is easy to see how many dreams have gone unfulfilled. Most people had not honored even a half of their dreams and had to die knowing that it was due to choices they had made, or not made." + +Many of the folks interviewed at this time likely grew up in the 1950s or 60s, where the general template for life was graduate college --> marry your college sweetheart --> have 2.5 kids, a house, a car --> wife stays home with kids, husband works 35 years at one company and collects pension --> enjoy your 10 year retirement if you're lucky. + +FIRE helps free up the time and financial resources required to pursue one's dreams, and unshackles you from the "standard life template." + +2. I wish I hadn’t worked so hard. + +"This came from every male patient that I nursed. They missed their children’s youth and their partner’s companionship. Women also spoke of this regret. But as most were from an older generation, many of the female patients had not been breadwinners. All of the men I nursed deeply regretted spending so much of their lives on the treadmill of a work existence." + +This one's pretty self explanatory. I'd expect over time the responses from working women will be the same, and for the same reasons. I actually think this would be #1 if a generation with more working women was interviewed. + +Thoughts? +In the past I have posted various tips and strategies to help one in their Day Trading. + +I honestly believe in giving back to a community that you have prospered in - so that is the only reason I am here. This is a hard field to get into and a difficult journey for most. The reward at the end is definitely worth it, but the road there is filled with scams, pitfalls, losses and frustration. If I can help any of you avoid some of what I and others had to face, I am happy to assist. + +Also please know that while there are resources I recommend, I do not benefit or work for any service, channel or platform. My recommendations are my personal opinion based on what I have experienced, nothing more. I detest scams and hate the schills pushing those scams even more. I am an independent trader who trades with my own money. + +Hopefully some of you were able to get in on WOOF, AAPL, DOCU and ROKU longs today, or WYNN, FCX and CLX shorts. They all followed Relative Strength and Weakness against SPY strategy and were slam-dunk trades. + +OK - some other tips in addition to those I already posted: + +**1) Don't Trade Your P&L, Trade the Charts** \- When it comes to the question of "When should I exit?" your answer should be - based on the charts, not how much you are up or down on the trade. You never want to be making decisions out of fear of loss or greed. I exit a trade when the logic behind originally taking the trade no longer applies. Stocks will retrace but as long as it doesn't violate the why you got into the trade to begin with, there usually isn't a good reason to exit other than watching your P&L. Exit based on the technicals and you will find your win rate increase dramatically. + +**2) Focus on Win Rate -** Yes, I know the argument - one can have a 95% win rate and still lose money if they blow it all on that 5%. However, this should not happen if you are applying the same rules to every trade. When your strategy isn't working and you exit, the loss should not be so much that it overcomes many wins. The most important thing you can do is have a solid strategy that maintains a win rate of 80%. The best way to get to that point, no matter how much is in your account, is to practice your strategy with a very small position size, I am talking only a few shares, one contract on options, etc. (this will also help you practice not focusing on the P&L). Do not increase your position size until you get that win rate up to that 80% mark. + +**3) Don't Over-Complicate Things -** I have seen some setups where people have tons of indicators on their charts, lines are everywhere, clouds and Fibs, and then underneath is a constant stream of lines crossing each other all over the damn place. Keep it clean. I have SMA 50,100,200 and VWAP. I look at the True Strength Index and Relative Strength vs SPY. If I am scalping I will put the 3/8 EMA's up for the 1 Min charts. Technical Analysis is great, but with enough indicators you can convince yourself of anything, "There is an inverse Head and Shoulders pattern on the 4 hour chart, with the RSI saying it is oversold and a MACD cross!" You don't want to search for facts to confirm your theory, and having too many indicators lets you do just that. + +**4) Momentum Trading - Fun and Dangerous -** Yeah, we all love momentum trading. Watching a stock go from $6 to $7.50 in the span of 10 minutes. And then you wait for your pullback, jump in around $7.10, and proceed to watch it drop all the way back down to $6 because nobody ever wants to exit a momentum trade. You always think the next burst is one candle away. You know what does work? Around 90 minutes into trading today I notice that AAPL $129.24 after it already jumped up on the open. I also notice that SPY was dropping and AAPL wasn't. I went long AAPL at this point and stayed long, all the way to $130.30 which happened right before close. Was it as exciting as watching GRAY go from $6.50 to $8.50 after-hours last week? No. But I will take the AAPL trade every time. Because the AAPL trade will pay off almost every time. + +**5) Trading Doesn't Stop When The Market Closes -** You should be looking through your trades for the day, analyzing what went wrong and what went right. Looking at the chart and putting alert lines on various stocks you are watching for tomorrow. Creating watchlists and doing overall market analysis. Day Trading is a full-time job. + +**6) Stop Rushing Into Trades -** Yes, I know it is Day Trading and you don't want to miss the move. But you need to take a breath. Look at the charts, where is support? where is resistance? Are there a lot of bag holders right above this price? How does the daily chart look? Is the relative volume over 1.5? Is it strong/weak against the market? What is your best play, stock? options? a spread? Yeah, it takes time to do this, and with experience it will take less time, but you can't simply say - SRNE is moving I am going long and then jump in. Know what price you want to get it at, and what price your target is, then rely on the charts to get you to your goal. + +**7) Careful Following Trades -** When you follow someone else into a trade without knowing what their strategy is you may find yourself stuck well after they have already exited. People tend to post their trades pretty quickly, but generally post their exits well after the fact. If you are relying on someone else for your trades, make sure you have your own exit strategy. + +Seven tips seems like enough for a Monday. + +Keep in mind, everything I tell you and post is geared towards one thing - becoming a consistently profitable Day Trader. That is the goal. There are no shortcuts to it, no version of it where you trade for the first hour and then go about your day (yes, there are people who do that, even some that do it successfully, but the odds are stacked against you if that is your plan). This is about knowing you will have between $X and $X dollars of profit at the end of every month that you can pay yourself as a salary. And that years from now, you will still have that. + +I plan on posting about Day Trading Options next. As always, happy to answer any questions. I also want to thank everyone for their messages and questions, I try to get to them all, it just takes some time. + +EDIT: I just went long SRNE after-hours at $9.55 and plan on carrying into tomorrow. + +EDIT 2: sold for scratch pre-market , no volume +Hi all - I was very hesitant about making this post because (a) it felt braggy, and (b) I’m wary of having too much personal info, even if anonymous, out there on the internet. + +But what pushed me do it was seeing yet another casually sexist comment on /r/personalfinance about girlfriends taking your money. I’m tired of generalizations (especially in places where the demographics skew male, like finance subreddits) about women being obstacles to a man’s FI journey at best, or high-maintenance gold-diggers at worst. So I feel obligated to be a visible example of a FI-minded woman, and to add another female voice to the FI conversation. + +**TL,DR:** + +* Super fortunate in many ways. Graduated debt-free from a top school +* Investment banking → tech (but non-engineer) +* \>60% savings rate in a VVHCOL city - live comfortably but intentional about spending +* 5 years after graduation: $750K net worth (\~$300K in post-tax Roth retirement accounts), and total annual comp of \~$275K (excl equity) +* Net worth growth came both from increasing income (switching companies, getting promoted) and from healthy investment returns throughout + +[Net worth over time chart](https://imgur.com/a/VJ7p1B1) + +[Summary table of income and net worth over time](https://imgur.com/a/FzeTRlZ) + +*Note that the years aren’t totally representative of my actual annual incomes because job transitions and promotions have tended to happen in the middle of year.* + +***My story*** + +* **I was super lucky, in a lot of ways**. I had a middle-class upbringing but my immigrant parents both worked full-time and taught me the value of education and of saving money early on. We always spent below our means. +* **My upbringing and debt-free education = single biggest driver of my financial success thus far.** My parents also paid for my college education so I graduated debt-free from a top university (one of Harvard/Yale/Princeton/Stanford). I amassed a small starting stash of \~$20K by graduation from working paid internships during every college summer (and investing my savings). +* **I started my career in investment banking, then transitioned into corporate strategy at tech companies**. Initially I took a pay cut in leaving finance, but have since grown my income comfortably - and it was worth it solely for the higher quality of life (i.e. not working 80 hours/week in a soul-crushing grind, surrounded by very rich yet deeply unhappy people, adding little discernible value to society). +* **I currently live very comfortably in a VHCOL city**. I eat well, take plenty of vacations, rent a nice apartment, buy myself small luxuries, etc. - but am intentional about spending my money where I feel it most improves my wellbeing. +* **My savings rate is currently >60%**, which includes maxing out retirement contributions. I acknowledge this is also only possible because I’m young and don’t have any dependents yet (my boyfriend is a software engineer and does fine, though I’m proud my income/NW are higher than his) - if I have kids in this city in the near future, my expenses will definitely skyrocket. + +***On investing*** + +* Investing has been a major driver of my net worth growth: **\~$275K of the $750K NW is from investment gains made over the last 5 years.** +* I’ve invested all of my extra money (excluding 6 months emergency savings / small amount in checking) since I was in high school. +* Passive investing is objectively the best approach for the vast majority of people. About ⅔ of my net worth is passively invested in diversified low-fee index funds / ETFs. +* However, I enjoy active investing and doing the research, so **about ⅓ of my NW is invested in individual stocks**. My actively invested portfolio has made substantial returns over the last 5 years thanks to several investments that have doubled, tripled, up to 9x’d - like NVDA, NVCR, SQ, TWLO, CRM, etc. Given that I’m young and have a very long investing horizon, I’m okay with having a somewhat higher level of risk in my portfolio from these individual stocks. +* **I also basically never sell my investments** \- have never tried to time the market, never sold because I thought it was about to crash, etc. It’s worked out pretty well for me, with my 5Y annualized return beating all market indices in the same time period - time will tell if that’ll continue to be true. + +***Reflecting / looking ahead*** + +* My target milestone is to hit **$1M net worth by 30**, which looks quite feasible at my current income and assuming my portfolio/the market doesn’t tank in the next 2 years. +* Getting to the first $100K really is the hardest - it just keeps snowballing from there, and your NW increases faster and faster... I only made a post about hitting $500K \~4 months ago! +* **I don’t count illiquid equity in any of my projections**. Even though it might turn into a big payday if my current company goes public, for now, I treat it as imaginary money. (If it does become liquid, then my path to FI will accelerate substantially, given I have high six figures in nominal equity value, both vested/unvested.) +* **$2.5M is my fat-FI number**, but I’ll probably keep working after I hit that. But who knows - if I get married / start a family / have kids, maybe my priorities will change. +* Leaving finance for tech was a big leap for me, in part because staying in finance was the path of least resistance / most prestige / highest comp. I could have left my top-tier investment banking job for a role in private equity / hedge funds / venture capital instead, and been making $300K+ comp as a 24-year-old (as many of my banking peers did). Taking a pay cut to go to a startup felt risky and uncomfortable at the time -- but I have no regrets, looking back. Leaving finance made me happier, healthier, and a better and more interesting person; even if it also meant a slightly longer path to hit NW milestones, I’m still doing just fine. The tradeoffs were more than worth it. + +If folks have other questions, happy to answer them. I’ve mostly lurked on this community but appreciate the helpful info & discussion I’ve read here, so happy to try to contribute in turn. +The reason the great DFV is so quick, organized and succinct in his responses is because you don’t need to “prepare” to tell the truth. It’s easy to answer a question when the truth is the answer. + +Compare that to Robinhood or citadel and it’s clear to see who needed to “prepare” and be coached for these questions today. + +It’s unfortunately clear that this hearing will result in little to no action or changes going forward to hold big money accountable for their bad decisions, and the people will continue to shoulder the burden for their mistakes. + +I’m not here to stick it to the man, or take down big hedgies, I’m here for the tendies just like anyone else, but it’s very clear we will see something like this happen again in another 5-10 years, with retail traders and tax payers shielding big money at the cost of our tendies. +It all started with what I thought was a scam email. It’s not. + +My parents committed identity fraud and opened credit cards in my name without my knowing. I’ve since found out that I have $25,000 in debt with four different banks and three collection agencies after me. I haven’t lived in the States for 5 years (I live in the Netherlands), I don’t have a U.S. credit card, and I didn’t freeze my credit before I left (I didn’t even know that was a thing). + +Guys, I’m in shock. I have no idea what to do or how to begin. My parents insist that these agencies can’t touch me, that this debt will fall off after 7 years, and that my credit will be restored after time. That, since I don’t plan on returning to the U.S., I need to ignore them. + +Well, I don’t trust a word out of these peoples’ mouths anymore. I need legal/finance advice. My questions: Where do I turn? What are the steps to take? Do I contact these banks and agencies and dispute? Or will that make things worse? + +I know the first thing is to freeze my credit, which will be difficult since I have no U.S. address. Then, what next? + +Are there low-cost/free services either in the Netherlands or the U.S. that I can use to get advice? + +Thank you in advance for your responses. +I don't mean you are happy because you want to buy them at a cheap price. I mean you genuinely dislike the company and are happy to see them plummeting. + +For me, it's Peloton. They have polluted our airwaves for long enough. They are cult-ish. I'm a relatively well-off guy, but even I found the extreme wealth displayed in their ads off-putting and would never consider buying their product because of it. Their instructors yelling "Great job, Peloton!" rang about as personalized as "Hey Pandora listener!" And this isn't even getting into the absurdity of spending that much money on a bike that just sits in a room. I'm a cyclist, and the product itself is offensive to me. + + +When a company paints itself as better than you for long enough, it's hard to not cheer a little as it drowns. +With tax season fast approaching I wanted to make everyone aware of a little-known fact that if you make less than $64,000 a year you are [eligible for free tax filing and preparation](https://www.irs.gov/filing/free-file-do-your-federal-taxes-for-free). + +The government has a contract with tax prep companies like H&R Block that allows for free tax filing for 70% of Americans. You can use the tax prep software that companies normally charge for without paying a penny if you go through the IRS's website. The program opens in January to file your 2017 tax returns. + +The IRS's advertising budget for this program is $0 so very few people realize it exists. Last year only 2% of eligible taxpayers used this system. Most people paid the companies to prepare their taxes because they weren't aware of this great program. It is literally the same programs the companies charge for being offered for free. + +*If you're interested in why companies would offer their products for free it's because it prevents the government from offering a free filing option. So long as tax companies offer free filing to 70% of US taxpayers the government will not offer a competing tax prep option, per the contract. They just work very hard to make sure no one actually knows the free filing option exists so we continue to pay them to prepare our taxes.* + +**Use this program and please tell everyone you know so they can take advantage of it too.** +Naked short positions are never closed and the hedge funds/market makers(?) who shorted the companies into obvilion will never have to close their shorts. This is tax evation. They should pay taxes on their winnings. + +Instead they can use it for tax free collateral and siphon even more money out of the hands of retail investors by printing naked shorts until companies go bankrupt. "Most sophisticated investers" 😄 +Welcome to the Daily General Discussion thread of /r/EthTrader. + +*** + +The thread guidelines are as follows: + +- All sub rules apply here so please review our **[rules page](https://www.reddit.com/r/ethtrader/about/rules/)** to become familiar with them. The rules page is also linked in the announcement bar above. +- This thread is meant to be more relaxed compared to the serious daily thread. Memes, lambos, moons are all welcome. +- If the front page gets overloaded with memes, all but the top two posted and voted on may be removed. Basically, please post memes in this thread first and upvote the best so the mods know which ones to keep if we need to remove a bunch of memes from the front page. + +*** + + Resources and other information: + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our [Ethereum Education wiki page](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Thank you in advance for your participation. Enjoy! + +>Apple hit a market cap of $2 trillion, doubling in valuation in just over two years. It’s the first publicly traded U.S. company to reach the $2 trillion milestone. + +>Apple first reached a $1 trillion market cap on Aug. 2, 2018. Wall Street has largely expected Apple to be the first to surpass the $2 trillion mark. On July 31, Apple surpassed the state oil giant Saudi Aramco to become the world’s most valuable publicly traded company. + +[CNBC full article](https://www.cnbc.com/2020/08/19/apple-reaches-2-trillion-market-cap.html), [AAPL stock price](https://www.cnbc.com/quotes/?symbol=AAPL) +At current time, should I hold my QQQ or sell part of it and switch to other value ETF like SPYD or DIA? Just the last year performance of QQQ is so good that I am afraid it will be lagging this year. +Title, am increasingly nervous about recessions and the UK spending money it most likely doesn’t have, that my generation will have to deal with. +Thank you everyone! If you have more suggestions, please comment them and I’ll read it all! +EDIT: /u/Ztronic's response below brings up a [good critique](https://www.reddit.com/r/ethtrader/comments/9odwn3/your_thoughts_on_tether_poll/e7tku8z) of this poll and choice of words. Also /u/savage_x as well had [valid criticisms](https://www.reddit.com/r/ethtrader/comments/9odwn3/your_thoughts_on_tether_poll/e7tgt7h). I think both these guys need to do a poll with a better question/answers than this one. Anyone can make polls. Try it out. + +The word "Important" is not a great word choice. It implies there is a problem with Tether and the word "Disappear" can mean different things. It may be a good thing that it disappears LOL. It may not be a good thing depending on the circumstances. + +&#x200B; + +Edit 2: This is /u/Ztronic's poll [https://www.reddit.com/r/ethtrader/comments/9oga6q/how\_important\_is\_the\_health\_and\_stability\_of/](https://www.reddit.com/r/ethtrader/comments/9oga6q/how_important_is_the_health_and_stability_of/) + +&#x200B; + +&#x200B; + +Based your understanding of Tether - **one year from now** if Tether were to disappear, the lasting effect it has on crypto moving forward will be: + +&#x200B; + +&#x200B; + +[View Poll](https://www.reddit.com/poll/9odwn3) +I mean seriously, I only make 31k a year. Every time I look at a job opening for 35k+ a year, they want a ton of experience, a college degree, certifications, or all of the above. It’s really depressing and super discouraging when you’re just trying to get a career of some sort going. It feels like an endless loop where I’m trapped at a dead-end job that already has me capped out in terms of making more. I’m only 22, but I’ve been working here since I was 20. I’m barely scraping by, and it feels like I’m wasting my time, and that I won’t find a better opportunity because of all the requirements needed to get something else going. It really does feel like I’m alone when it comes to this. Does anybody else feel this way? + +Edit: Thanks for all the advice & encouraging words y’all. I’ll definitely try to take most/ all the advice & motivation given to me. its very appreciated. +http://imgur.com/KIBBDre + +Edit: this is getting annoying I'm just gonna unsubscribe and and won't be reading any other responses, so you can save your efforts in trying to insult me, I won't be reading it and I really don't care. +# 0. Preface + +**TLDR:** For the last 84 years, there has been hope on this sub that GameStop does a Share Recall and forces SHFs to close their short positions. However we learned that in 2003 the SEC and DTC made it impossible for companies to do Share Recalls of their stock, even when trying to protect themselves from naked shorting. Share Recalls are instead something that financial institutions can do, to recall shares lent to short sellers...however seemingly not an action likely to happen in the GameStop saga. + +Of course there is an "alternative" Share Recall happening, in the form of retail investors gradually DRSing their stock. This is something GameStop can encourage and report on from the side, but not something they can directly effect. However I have found evidence that companies such as GameStop are able to direct something akin to a Share Recall - a mandatory Share Surrender. This DD presents evidence and a very interesting, relatively recent precedent of a company taking such steps. If GameStop instigate such a Share Surrender in a manner similar to this precedent, my conjecture is that it could well lead to shorts being force closed very rapidly, and thus a path to MOASS. + +&#x200B; + +# 1. A history of Superstonk's understanding of what a 'Share Recall' actually means + +There has been much confusion since the inception of this sub (and its predecessors) about the subject of Share Recalls. There was a time (mid 2021) when many Apes believed it is possible for GameStop themselves to carry out a Share Recall, thereby forcing shorts to close their positions. The reason they had not done this, as the theory went at the time, was because actioning such a recall without a legitimate business reason would result in lawsuits against the company for market manipulation. However the conjecture was that GameStop was, nonetheless, putting together a business case that would allow them to carry out a Share Recall, and thereby launch MOASS. + +However, Apes then came to learn about SEC rule SR-DTC-2003-02. Coming into effect in 2003, this was a rule proposed in the aftermath of a number of companies attempting to action recalls of their shares, when they felt that Short Sellers were manipulating their stock and the DTC was not taking sufficient steps to prevent this. The rule was proposed by the DTC themselves, in effect to lock companies in as "prisoners" within the DTC as a depositary, preventing them from exiting. The basic argument from the DTC was that companies have no rights to decide what happens to their shares after selling them to the market. Sole ownership rights fall with whoever hodls the stock, and the issuer is therefore unable to carry out actions such as Share Recalls. + +[https://www.sec.gov/rules/sro/34-47978.htm](https://www.sec.gov/rules/sro/34-47978.htm) + +https://preview.redd.it/rv4anmxymdq91.jpg?width=1767&format=pjpg&auto=webp&s=2a6c027b191b19878d38e88bc4f5ffd05a35f316 + +The understanding of what Share Recalls are in reality then moved, correctly, to their usage by financial institutions. The most prevalent use of these is when the issuer of a stock carries out a corporate action of some kind, which makes it advantageous for stock lenders (e.g. asset management firms) to recall their shares from stock borrowers such as SHFs. Thus it was conjectured that by GameStop carrying out certain corporate actions, such as a stock dividend, lenders would recall their shares and thus force SHFs to have to close their short positions, and thus launch MOASS. An example of such conjecture is below: + +[https://www.reddit.com/r/Superstonk/comments/ttvawt/boom\_lenders\_must\_call\_back\_their\_lent\_out\_shares/](https://www.reddit.com/r/Superstonk/comments/ttvawt/boom_lenders_must_call_back_their_lent_out_shares/) + +https://preview.redd.it/hch58m15ndq91.jpg?width=1768&format=pjpg&auto=webp&s=533fcc7e0e64a36276b87b9ff683d1d5b0c1952a + +Of course what we saw happen in reality is the DTC instructing most institutions to simply carry out a standard stock split, meaning such a Share Recall had no benefit for lenders to action. I do not believe it was GameStop's intentions, with the announcement of the stock dividend, to force into being such Share Recalls. I believe they probably knew things would turn out the way they did over the last couple of months. However this whole sorry affair lends more weight to the idea that a stock issuer cannot take actions to force a Share Recall, given the DTC and nefarious actors can just circumvent these as they please. + +The most recent Share Recall method widely discussed on this sub, and currently in action on a daily basis, is of course DRS. The whole idea behind DRS is that it is a gradual Share Recall of stock from the DTC's clutches, eventually resulting in the complete removal of shares to being directly owned by retail shareholders and insiders. As someone who has 90% of their 741 GME shares held safely in my ComputerShare account, I am a firm believer in this individual shareholder led-Share Recall. It may not be an instantaneous 'Silver Bullet', but at some point (74.1% of the float? 100% of the float? 50.1% of shares issued? 100% of shares issued?) it is sure to result in something...big. + +[https://www.reddit.com/r/Superstonk/comments/wc56mr/drs\_is\_the\_share\_recall\_stop\_floating\_around\_a/](https://www.reddit.com/r/Superstonk/comments/wc56mr/drs_is_the_share_recall_stop_floating_around_a/) + +https://preview.redd.it/fvtc7ef9ndq91.jpg?width=1768&format=pjpg&auto=webp&s=3f4d031b506ad59d9a178972e271b0fdd3a3746e + +&#x200B; + +# 2. TNIB and a blueprint for a fast acting Share Surrender + +So the story of Share Recalls seemingly stops there, as we wait for the incremental and inevitable march towards the DRS share numbers encroaching, enveloping and eventually eviscerating those held in the DTC. The only power to effect such a Share Recall thus lies with the tens of thousands of individual shareholders, and a small number of company insiders whose shares are also held by ComputerShare. GameStop's involvement and ability to effect a Share Recall thus begins and ends with the "encouragement" of quarterly reporting DRS numbers, and nothing much else directly possible beyond that. Right? + +Maybe. Maybe not... I have come across some information that points towards them actually having a means to effect something similar to a Share Recall - a Share Surrender. The evidence I present for this is a past precedent, namely the actions taken up by a company called TNI BioTech Inc. in the period 2013-2015, which I will henceforth refer to as 'TNIB'. Credit for pointing me towards uncovering this is with u/weregoingstreaking, through some private exchanges I had with him/her. He/she was more interested in the resultant broker criminality which ensued from these eventw, however I became interested to learn what led to these issues in the first place. What jacked my tits was that the origination was TNIB ordering and then effecting a mandatory Share Surrender of their stock to their transfer agent. + +I believe this story may serve as a blueprint for GameStop also carrying out such an action in the future. If the mechanisms that TNIB pursued are still possible, it would therefore mean the company does also still have the power to effect a Share Surrender themselves. Consequently if my findings are correct, then it could mean that Share Recalls are possible through the actions of individual shareholders continuously DRSing their shares, but concurrently Share Surrenders are possible by GameStop carrying out similar actions to TNIB. + +&#x200B; + +# 3. Common stock certificates exchange in 2013 + +The story begins in the summer of 2013, with TNIB effecting a corporate action to resolve issues from various M&As they had carried out over the years. By then the company had shareholders still holding the paper common stock certificates of various bought-out firms - Galliano International Ltd. (CUISP: 363816109), Resorts Clubs International, Inc. (CUISPs: 761163-104 / 203 / 302), PH Environmental Inc. (CUISP: 69338E107) and the original TNI BioTech, Inc. (CUISP: 872608104). My guess is that there were enough shareholders with these paper certificates of the bought-out firms that still held records, to cause various kinds of issues. In order to resolve these problems, TNIB issued this press release detailing the corporate action: + +[https://www.prnewswire.com/news-releases/tni-biotech-inc-announces-mandatory-exchange-of-common-stock-certificates-cusip-number-872608104-for-new-stock-certificates-with-active-cusip-872608203-210588751.html](https://www.prnewswire.com/news-releases/tni-biotech-inc-announces-mandatory-exchange-of-common-stock-certificates-cusip-number-872608104-for-new-stock-certificates-with-active-cusip-872608203-210588751.html) + +https://preview.redd.it/x40mooafndq91.jpg?width=1768&format=pjpg&auto=webp&s=5a3f02074961e05ea965580b5678d53ca40267d8 + +There are three interesting points for me with this corporate action: + +• Firstly, it is aimed only at those shareholders holding the paper common stock certificates of the bought out companies.  + +• Hence this by no means affected the vast majority of shareholders and shares of TNIB, which presumably were in electronic format at street name brokers and the DTC.  + +• However the second interesting point was that the corporate action required those holding paper shares to mandatorily surrender these certificates and receive a replacement with the new CUISP.  + +•The third point is the method required to be used to do that, namely to send the certificates to their transfer agent, Direct Transfer LLC. + +The reason this initial corporate action piqued my interest is the fact that TNIB could take an approach, as a stock issuer, that mandatorily forced shareholders to surrender their shares. At first glance this appears to be in contravention of SEC rule SR-DTC-2003-02 detailed above, which prevents issuers from carrying out actions compelling stockholders to do anything. However looking more closely at the precise wording within the rule, it prevents the withdrawal of shares by the issuing companies...but not the replacement of shares with new or updated versions of those shares. Hence TNIB's corporate action was actually keeping within the wording of the rule, although in effect being a mini-Share Recall of some of their paper stock certificates. + +IMG + +&#x200B; + +# 4. Cytocom spin-off announcement in May 2014 + +Having successfully effected the above described mini-Share Recall in 2013, from what I can tell it emboldened TNIB to go one step further a year later. In May 2014, the company announced that they will carry out an internal reorganisation of their business lines, to officially spin-off one of their subsidiaries named Cytocom. Below is the press release issued by TNIB, which their board had determined would be in the best interests of thr company's shareholders: + +[https://www.biospace.com/article/releases/tni-biotech-announces-proposed-spin-off-of-b-cytocom-inc-b-/](https://www.biospace.com/article/releases/tni-biotech-announces-proposed-spin-off-of-b-cytocom-inc-b-/) + +https://preview.redd.it/x7lkcjwindq91.jpg?width=1590&format=pjpg&auto=webp&s=c85ce098a882160b9a64fccb605b4e80a1f3a53e + +Once again, there are some very interesting points to note with this corporate action: + +• To begin with, its result would be TNIB shareholders continuing to hold their shares of that company, and those equities still being publicly tradeable on the OTCQB market for mid-tier venture firms.  + +• However these same shareholders would also receive shares of Cytocom, which would operate as a spun-off private firm and thus with those shares not tradeable on an exchange. + +• Secondly, taking a cue from their corporate action the previous year, the press release announces that "mandatory surrender of existing TNIB shares will be required to receive shares of Cytocom through the Distribution". + +• So once more TNIB is effecting a corporate action that requires a mandatory action to take place + +• However you may have noticed that this action is to be carried out by all shareholders, not just those with paper common stock certificates, hence also including those held in electronic formats. + +• The third and final point to note is that, unlike the previous action, this press release does not give much detail to shareholders about how to mandatorily surrender their shares.  + +• There is no mention in this initial press release explaining how TNIB shareholders can go about doing that, such as contacting their transfer agent (which had changed, in fact, from Direct Transfer LLC to Guardian Register & Transfer Inc).  + +TNIB may have avoided providing the methodology detail because the approach they would go onto specify caused quite some commotion over that summer... Perhaps their board realised that a "bomb dropping" of this kind required releasing this information gradually and gently. However, as you will see in the next couple of parts of the story, what they went on to direct certainly caused some pain to brokers and no doubt SHFs. + +&#x200B; + +# 5. A Share Recall, literally on paper! + +The months following this, in the summer of 2014, seem to have been a busy one for TNIB and its various stakeholders. The detailed directive from TNIB about how shareholders must mandatorily surrender their shares, in order to receive the dividend distribution of their spin-off Cytocom's private stock, seems to have caused quite some commotion. Although the original record date for the distribution was due to take place on July 15th, these difficulties resulted in TNIB issuing an extension detailed here: + +[https://www.bloomberg.com/press-releases/2014-08-14/tni-biotech-inc-announces-an-extension-to-the-record-date-of-its-wholly-owned-subsidiary-cytocom-inc-and-dividend-now-set](https://www.bloomberg.com/press-releases/2014-08-14/tni-biotech-inc-announces-an-extension-to-the-record-date-of-its-wholly-owned-subsidiary-cytocom-inc-and-dividend-now-set) + +https://preview.redd.it/ujzx0zamndq91.jpg?width=1768&format=pjpg&auto=webp&s=d0ae69778f2168927472c235a9f8733c196b5b4c + +A summary of notable points from this announcement is as follows: + +• TNIB made the stock surrender a mandatory requirement for ALL shares, but they also specified that the surrender must be carried out in paper share certificate format. + +• Therefore they effectively turned off the button for making standard electronic transfers, and only permitted shareholders to send in the physical paper certificates to their transfer agent. + +• This meant that shareholders who did not have their shares in paper format, which would of course have meant the vast majority of them, first had to obtain or convert the digital record of their TNIB shares to the transfer agent. + +• The transfer agent would then provide paper share certificates for their TNIB shares, but along with that also provide paper share certificates for private spin-off Cytocom. + +• With the major amounts of paperwork this approach required, this was proving a difficult task for many of the shareholders and brokers to complete.  + +• TNIB therefore provided an extension to when this process had to be completed, extending the Record Date to receive the Cytocom stock dividend until 30th September. + +I do not know why TNIB decided to follow this method, which would no doubt have been extremely cumbersome for them and their transfer agent as well. However this second Share Surrender was in effect a full Share Recall of a kind, one that would allow TNIB and the transfer agent to see precisely how many shareholders they actually now had (i.e. including, potentially, those to whom the stock had been sold through naked short selling). It was also preventing the DTC and street name brokers from creating electronic IOUs instead of "real" shares, as the final delivery to shareholders had to be both TNIB and Cytocom paper share certificates. As detailed next, Wall Street was not prepared to do this without a fight... + +&#x200B; + +# 6. The Schwab e-mail and TNIB'S letter to shareholders + +You Apes are going to love this next part of the story! As I said in the previous section, the process that TNIB had mandated for distributing their spin-off Cytocom's stock was causing huge headaches for the brokers. Having gotten used to creating IOUs and synthetics out of thin air since the 1970s, the manual nature that TNIB was forcing them to follow did not go down very well with them at all. In communications to TNIB shareholders, it had appeared they had been blaming TNIB for not carrying out the steps in a timely manner.  + +This resulted in TNIB's CEO Noreen Griffin to publish a letter to the shareholders, one day before the 30th September Record Date for the stock dividend. Within the letter, Ms. Griffin defends and justifies the approach her company had taken, and dismisses broker claims and requests for a more "standard" process to be followed. However the best part is a (highly doxxing!) sharing of a complaint from one of the brokers, Schwab. If you read nothing else line-by-line within this DD, I would urge you to read the panicked, mansplaining, condescension of that e-mail from the Schwab representative to TNIB's Investor Relations manager: + +[https://www.prnewswire.com/news-releases/tni-biotech-inc-corporations-ceo-issues-letter-to-shareholders-discussing-cytocom-dividend-277484861.html#financial-modal](https://www.prnewswire.com/news-releases/tni-biotech-inc-corporations-ceo-issues-letter-to-shareholders-discussing-cytocom-dividend-277484861.html#financial-modal) + +https://preview.redd.it/l8j206wqndq91.jpg?width=1768&format=pjpg&auto=webp&s=96a71378e45bdd42f909b05cf729e34cb7870f08 + +A summary of Ms. Griffin's letter to the shareholders follows: + +• She acknowledges that TNIB had by then already streamlined the process significantly, by permitting the DTC's Deposit and Withdrawal at Custodian ("DWAC") service using a Fast Automated Securities Transfer Service ("FAST"). + +• This is a method of shares direct registration, which is similar to DRS but where it is still held by the DTC - more details available here:  + +[https://www.investopedia.com/terms/d/dwac.asp](https://www.investopedia.com/terms/d/dwac.asp) + +• TNIB allowed this concession from their original stipulation, so that "DTCC Participants \[brokerage firms\]" did not have to carry out "physical surrender in client name \[and instead\] providing Guardian Transfer a list of our beneficial holders along with share amounts, address & TINs". + +• However she completely dismisses the Schwab representative's request to switch further to the "standard" method used these days for such stock dividend issuances, and reiterates that the mandatory surrender of shares is still necessary + +• She goes on to highlight the ludicrousness of Schwab's claims, in which they appear to cast blame on TNIB for being unable to recall shares swiftly enough from those that had borrowed the stock i.e. most likely SHFs + +• The letter concluded with a doubling down of TNIB's stance, which is that brokers had been given ample time - 90 days - for shares to be recalled from short sellers and surrendered to the transfer agent + +However even more than Ms. Griffin's letter, it is the Schwab representative's e-mail which is quite astonishing to me in its brevity. He appears to openly admit that Schwab, and the entire Wall Street brokerage establishment, partakes in the worst excesses outed by members of this sub over the last couple of years as a normal course of their business operations. In fact, there is a particular passage within his e-mail which is basically describing FTDs caused by multiple rehypothecations of the same original share i.e. illegal naked short selling: + +&#x200B; + +https://preview.redd.it/v00gnvrtndq91.jpg?width=1768&format=pjpg&auto=webp&s=3d8e1c9638c481a985912589e6272148e7bc7da5 + +I do not think the Schwab representative thought his e-mail would see the light of day, and it appears to me like a last ditch 'Hail Mary' play with time running out. He therefore probably tried to just say to TNIB that this is how the industry operates and that the company has to get with it...but had his bluff called by TNIB. CEO Griffin went so far as to doxx and then point-by-point dismiss and highlight the absurdness of Schwab trying to normalise FTDs, which was no doubt a humiliating final message to Wall Street from TNIB: "We are doing this our way, whatever you guys might say to try and pressurise us". What a champion! + +&#x200B; + +# 7. Aftermath of the Share Surrender and dividend stock distribution  + +• The period between the announcement of the Cytocom spin-off stock dividend distribution and its eventual completion saw some extraordinary movement in the share price of TNIB stock. + +• That time span was five months and the volatility of the share price indicates there may have been closing, re-shorting and closing again of short positions. + +• For example, the share price fell to an intra-day low of $162.90 on 11th July, however then increased rapidly to $435.00 only two trading days later on 15th July (+167%). + +• In fact, it appears there may have been four or five seperate Gamma Squeezes and Short Squeezes during the period before the Cytocom stock dividend spin out distribution. + +• It seems likely the mandatory surrender of shares necessitated by TNIB's corporate action was responsible for this painful episode for short sellers and their enabling brokers. + +• Having successfully completed the Cytocom spin-out on 1st October 2014, Ms. Griffin stepped down as CEO and Chairman of TNIB and retired for a few years. + +• However according to her LinkedIn profile ([https://www.linkedin.com/in/noreen-griffin-74893b37](https://www.linkedin.com/in/noreen-griffin-74893b37)) she now appears to be back as an Executive VP at Cytocom, the company she helped launch in that summer of 2014. + +&#x200B; + +# 8. A possible blueprint for GameStop Corp.? + +As far as I can tell, TNIB's mandatory Stock Surrender corporate action is an approach that other companies are potentially also able to effect, as it falls within SEC's rule SR-DTC-2003-02. For firms that have likely had excessive naked short selling of their stock, such as GameStop, it appears to be a way to effect mandatory closing of short positions. By doing so, companies such as these may be able to create scenarios whereby accurate price discovery for their stock is made possible once more. As this is a fiduciary duty for the board of any publicly listed firm, such Stock Surrenders may thus be a method to create shareholder value. + +Some specific points in the case of GameStop carrying out such a corporate action: + +• The legitimacy of such an action is dependent on it not affecting market manipulation, but instead having a sound business case. + +• In TNIB's case this was in order to consolidate paper stock certificates under a single CUISP (in 2013) and to distribute a share dividend of a private spin-off company (in 2014). + +• As an example, GameStop could legitimately spin-off its NFT division and Marketplace as a seperate entity from the bricks-and-mortar retail chain (GMErica, anyone?) + +• To do so, they may be able to replicate TNIB's approach of requiring a mandatory Share Surrender, in order to receive the stock dividend of the new spin-off company. + +• The whole point of such a Share Surrender is to force all those who hold the stock to "return" shares to the company's transfer agent, so that they can issue the stock dividend directly to share holders. + +• This is in conrast to GameStop's stock split in the form of a stock dividend carried out in July, which was to distribute the additional shares not just directly through ComputerShare, but also through intermediaries such as the DTC and their member brokerage firms. + +• The 'genius' of the approach TNIB took was that they made it a mandatory requirement that all shares had to first be returned to their transfer agent in order to receive the stock dividend, including by forcing brokerage firms to send a full list of all their TNIB shareholders and share numbers. + +• GameStop carrying out this same approach would most likely result in the DTC and brokers having a "Schwab moment", when realising that providing their actual list would mean providing comprehensive proof of them illegally over-selling shares without locates. + +• Hence in order to reconcile their shareholders lists to match how many are on record at the DTC, which theoretically should not include sales of IOUs/synthetics, my conjecture is that brokers with stock lending programs would have no choice but to recall shares lent to short sellers. + +• However with the free float having shrunk to almost nothing through DRS, and all the stock lending brokers forced to act en masse to recall shares to fulfill the mandatory Share Surrender, there will be no possibility to cover these by borrowing new shares from other lending institutions (as there will no longer be anyone prepared to or even able to lend the stock). + +• Hence my conjecture is that the various parties on the wrong side of all this - prime brokers, stock lending asset managers, retail brokerage firms, and of course Short Hedge Funds - will suddenly have to go from their current stance of co-operating with each other to keep MOASS at bay, to instead be fighting each other tooth-and-nail in order to carry out the Share Surrender. + +• With the currently available option of using new borrows to settle old ones no longer an option, the only remaining approach will then become purchasing (or, at least, trying to purchase) shares in the open market. + +• Perhaps after burning through a few shares sold by early paperhands, it will become increasingly difficult to carry out such purchases at reasonable prices, resulting in the asking prices to rise astronomically as SHFs attempt to close out likely hundreds of millions of short positions. + +• The result of such a Share Surrender corporate action by GameStop could very well be as prophesied on this and predecessor subs from 84 years ago: the Mother Of All Short Squeezes. + +&#x200B; + +# 9. A possible blueprint for $GME's majority owners - soon to be Insiders and DRSed Retail Investors? + +What I described in the previous section is currently a fantasy - there is nothing to say that GameStop would effect such a Share Surrender any time in the near future. Although it seems to me this is an approach they could legitimately and legally take, I have not been able to uncover a shred of evidence pointing to them actually planning such an approach. Maybe this is what the board has had in the works for the last couple of years...but maybe it's just my hopium. + +However our shareholder rights provides each of us with a number of benefits and privileges. Specifically these are: voting power, ownership, the right to transfer ownership, dividends, the right to inspect corporate documents, the right to sue for wrongful acts, and the right to advocate Shareholder Proposals. Some of you may remember a two-part DD that I published less than a month ago about the last of these rights - Shareholder Proposals using SEC Rule 14a-8: + +Part 1: [https://www.reddit.com/r/Superstonk/comments/x29utb/how\_rule\_14a8\_and\_drsing\_more\_than\_50\_of\_shares/](https://www.reddit.com/r/Superstonk/comments/x29utb/how_rule_14a8_and_drsing_more_than_50_of_shares/) + +Part 2: [https://www.reddit.com/r/Superstonk/comments/x29ull/how\_rule\_14a8\_and\_drsing\_more\_than\_50\_of\_shares/](https://www.reddit.com/r/Superstonk/comments/x29ull/how_rule_14a8_and_drsing_more_than_50_of_shares/) + +https://preview.redd.it/wd8h5fgzndq91.jpg?width=1590&format=pjpg&auto=webp&s=6027a1176f4616c053c5b20c972018bcaf118c70 + +This DD was controversial, in that it details a method whereby individual shareholders could take steps to compel GameStop to effect a corporate action. I recognise that DD had a somewhat polarising reception, but I merely wanted to highlight that there are things that each of us has, as individual shareholders who bought $GME shares, have rights to. u/luckeeelooo makes this case with the below follow-up comment about that DD, in response to concerns raised by some other sub users (to Mods) about it: + +https://preview.redd.it/r2otiph4odq91.jpg?width=1623&format=pjpg&auto=webp&s=02e80ae6bd3386162acb2d8682d83ee89cc1be62 + +The reason I bring up that DD is because a Share Surrender is an example of a corporate action that an individual investor can raise as a Shareholder Proposal. Hence even if GameStop's board is not currently planning to take such an approach, this is nonetheless an method they could be compelled to follow. That is, if an individual shareholder makes such a Shareholder Proposal, and a majority of the overall shareholder body votes positively in support of it.  + +Note that this is not something I am necessarily advocating, as a "call to arms". However for any SHF shills reading this, I hope you take this message back to your masters: there are multiple approaches in addition to DRS that both GameStop and individual investors can employ, in order to force close short positions. So before someone, somewhere enacts a Share Surrender, do the sensible thing and exit your lost bet. The first Hedgies to close out might still survive, while the rest of the slower Hedgies...r fuk. + +&#x200B; + +# 10. Summary + +• Superstonk went through several iterations of its understanding of what a Share Recall actually is, + +• At first it was thought this is something that GameStop can themselves instigate, in order to force Short Sellers to close their positions. + +• However it was learned that the DTC, working in cahoots with the SEC, has blocked such a path by companies since 2003. + +• The common usage of the term Share Recalls, it was found, is the act by stock lenders to recall shares from borrowers, typically Short Sellers. + +• Although corporate actions such as stock dividends can produce such Share Recalls, it appears these can be circumvented through the DTC and brokers simply not carrying out corporate actions in the manner directed by issuing companies. + +• Finally, it has since been realised that retail investors DRSing their holdings is, in fact, a gradual form of Share Recall which may take a while, but highly likely to result in SHFs having to eventually close their positions. + +• However I found evidence and a precedent for a corporate action that GameStop can themselves action, which may also force SHFs to close their positions much faster. + +• This is something called a Share Surrender, which a company called TNI BioTech (then with the ticker TNIB, and now IMUN) successfully effected twice, in 2013 and 2014. + +• A Share Surrender appears to be within the SEC's regulations and comply also with the DTC's internal rules, as this is not an act of a stock issuing company attempting to withdraw its shares being held by the DTC. + +• Instead it is a corporate action to reset or consolidate its stock, rather than to withdraw from the DTC altogether, and thus not a withdrawal request to the DTC. + +• The first instance that TNIB took of this approach was in 2013, in order to make defunct the paper stock certificates of subsidiaries it had bought out over the years. + +• The DTC permitted TNIB to make a mandatory call for Share Surrenders of these paper certificates, to be exchanged for new certificates under a single CUISP number. + +• Having being emboldened by the success of this initial, limited scale Share Surrender in 2013, TNIB went onto enact a much wider reaching directive not long after. + +• In 2014 they decided to spin out a subsidiary named Cytocom as a private firm, with the distribution of this new entity's shares being distributed through a stock dividend. + +• However TNIB required a mandatory Share Surrender of TNIB stock, in paper certificate format, in order to receive the new Cytocom stock. + +• Effectively this was thus also a full Share Recall, as all TNIB shared had to be returned to the transfer agent in paper certificate format, to receive paper certificates of the new Cytocom shares. + +• The effect was consternation and panic by Wall Street brokers, and no doubt SHFs to whom they had lent shares, when trying to carry out this mandatorily Share Surrender. + +• TNIB eventually agreed to an extension to the deadline for carrying this out, and also permitted a DTC-internalised version of DRS, but which would still mandatorily require brokers to provide a full and comprehensive list of all theit TNIB shareholders. + +• TNIB's CEO was forced to write a public letter to shareholders, defending their stance and even sharing an extraordinary e-mail received from Schwab, in which they tried to normalise naked short selling and FTDs as a reason to revert to a "normal" dividend stock distribution. + +• With no option but to fulfil the mandatory Share Surrender, it appears brokers had no choice but to carry out Share Recalls from SHFs they had lent the stock to. + +• The result seems to be a series of Gamma Squeezes and Short Squeezes during the summer of 2014, including some extraordinary price action e.g. +167% in 2 days. + +• My conjecture is that if the mechanism used by TNIB to force a Share Surrender is still possible, it could be one employed by GameStop's board, to help fulfill their fiduciary duty of promoting accurate price discovery of $GME stock. + +• There may be multiple legitimate business cases for which they could apply a Stock Surrender, however the one I provided as an example is in order to spin-off a subsidiary named GMErica (e.g. as a seperate entity for their NFT division and Marketplace). + +• In any case, a Share Surrender appears to be a mechanism for GameStop themselves to instigate (effectively) a very fast acting Share Recall, to complement the more gradual Share Recall of individual retail shareholders DRSing. + +• As I have also highlighted with one of my previous DDs, regarding SEC Rule 14a-8, such a Share Surrender may even be within the power of a single Ape to make a Shareholder Proposal for at some point. +“After a heady experience of that kind, normally sensible people drift into behavior akin to that of Cinderella at the ball. They know that overstaying the festivities that is, continuing to speculate in companies that have gigantic valuations relative to the cash they are likely to generate in the future will eventually bring on pumpkins and mice. But they nevertheless hate to miss a single minute of what is one helluva party. Therefore, the giddy participants all plan to leave just seconds before midnight. There’s a problem, though: They are dancing in a room in which the clocks have no hands.” + +Edit: My first award, thank you kind stranger 🙏 +The truly greedy ones during MOASS will be the folks who hold a relatively high number of shares and sell all of them at a relatively low price to lock-in their fortune at the expense of the squeeze. + +I'm not a FA and this isn't advice, but my opinion is price targets should be set based on selling ONE share, not what you could sell your whole portfolio for. If you want 50M total, selling 50 shares at 1M is not the way to go. + +People that do that are just as bad as Kenny, willing to throw this entire community under the bus for personal gain. Not true ape behavior. +Greeting Theta Gang boys and girls, + +I hope you're well and not bankrupt after last week. I'm just now recovering mentally myself. I saw a few WSB converts and some newbies asking for tips, so here you go. V2 of my Options guide. I hope it helps. + +&#x200B; + +I spent a huge amount of time learning about options and tried to distill my knowledge down into a helpful guide. This should especially be useful for newbies and growing options traders. + +While I feel I’m a successful trader, I'm not a guru and my advice is not meant to be gospel, but this will hopefully be a good starting point, teach you a lot, and make you a better trader. I plan to keep typing up more info from my notebook, expanding this guide, and posting it every couple months. + +Any feedback or additions are appreciated + +*Per requests, I added details of good and bad trades I made. Some painful lessons learned are now included. I also tried to organize this better as it got longer.* + +**Here's what I tell options beginners:** + +I would strongly recommend buying a beginner's options book and read it cover to cover. That helped me a lot. + +I like this beginner book:[ https://www.amazon.com/dp/B00GWSXX8U/ref=cm\_sw\_r\_cp\_apa\_OxNDFb2GK9YW7](https://www.amazon.com/dp/B00GWSXX8U/ref=cm_sw_r_cp_apa_OxNDFb2GK9YW7) + +**Helpful websites:** + +* Tasty Trade (TT) and Ally Invest have helpful articles and videos. + * [https://www.tastytrade.com/tt](https://www.tastytrade.com/tt) + * [https://www.youtube.com/c/tastytrade1/featured](https://www.youtube.com/c/tastytrade1/featured) +* Ally training: + * What is options trading? [ https://www.ally.com/do-it-right/investing/trading-options-for-beginners/?CP=EM2012111](https://www.ally.com/do-it-right/investing/trading-options-for-beginners/?CP=EM2012111) + * Top 10 options mistakes:[ https://www.ally.com/do-it-right/investing/top-10-option-trading-mistakes/?CP=EM2012111](https://www.ally.com/do-it-right/investing/top-10-option-trading-mistakes/?CP=EM2012111) +* 3 common option mistakes:[ https://us.etrade.com/knowledge/library/options/common-mistakes-options-traders-make](https://us.etrade.com/knowledge/library/options/common-mistakes-options-traders-make) +* Common options strategies:[ https://www.optionsbro.com/basic-options-strategies/](https://www.optionsbro.com/basic-options-strategies/) +* Investopedia has tons of great investing info for stocks and options:[ https://www.investopedia.com/](https://www.investopedia.com/) +* Kamikaze Cash Theta Gang Videos:[ https://youtube.com/playlist?list=PLOweupE79XXiBaeH\_xBpkUcYUsrAaKQen](https://youtube.com/playlist?list=PLOweupE79XXiBaeH_xBpkUcYUsrAaKQen) +* 20 rules of professional traders: [https://www.investopedia.com/articles/active-trading/022715/20-rules-followed-professional-traders.asp](https://www.investopedia.com/articles/active-trading/022715/20-rules-followed-professional-traders.asp) + +**Don't trade until you understand:** + +* You can lose your entire contract value when buying. +* You can lose a lot of money when selling "naked", theoretically unlimited. +* How option expiration works. +* Theta (decay) and how it works. This is imperative since it's attrition when buying and a payout when selling. [ https://www.optionseducation.org/advancedconcepts/theta](https://www.optionseducation.org/advancedconcepts/theta) +* DTE: Days till expiration/expiry +* Options positions with respect to price: + * ITM: In the money; strike is below stock value. Signif + * ATM: At the money; strike is just at or above the stock value, often very highly traded. Can be very effective with moderate - long term expiry. + * NTM: Near the money; strike is above the stock value, but fairly close. Slightly unofficial term. + * OTM: Out of the money; price is at least a few strikes from the current stock price. I would say 10-30% over stock price. + * Very OTM: Not a real definition, this is essentially a lottery ticket. Cheap, but almost certain to expire worthless unless there is explosive movement. +* Understand delta in general and how delta changes with ITM and OTM options. +* Understand all the greeks at a high level, as you get better understand them well. The greeks: [https://www.optionsplaybook.com/options-introduction/option-greeks/](https://www.optionsplaybook.com/options-introduction/option-greeks/) +* IV, IV crush, and how IV affects pricing. In general, you want to sell when IV is high and buy when the IV is low. Increasing IV is good for held calls/puts. IV drop or crush is generally good for sellers. +* Selling options can be quite beneficial. Once you have a good general understanding, lookup r/thetagang . Kamikaze Cash has good youtube videos on most theta strategies (linked above). I personally believe selling options (especially cash secured) is much safer and can consistently make you profits. Θ Gang 4 life. +* FOMO and how to avoid chasing a dangerous trend. DO NOT CHASE FROM FOMO! +* What intrinsic and extrinsic value are. Know how they are affected by being exercised/assigned and how theta affects them. +* Understand that some of WSB recommendations are straight up high-risk gambling and factor in the information accordingly. Be careful with Meme stocks and the survivorship bias on YOLO plays. However, I love the sub and think it’s hilarious. It has a lot of valuable information / DD if you are comfortable with the “colorful” language. It’s also great if you like rocket ship emojis. + +**Basics / Mechanics** + +* Understand the 4 "main" option types. Buying or selling a call and buying or selling a put. Spreads and more complex multi-legged option strategies are based off these in some way (see below) +* You can sell calls with 100 shares of stock or if you own an underlying longer term option; see LEAPS and PMCCs later. Selling calls naked is incredibly risky and often requires Level 4 (very advanced) permissions and usually a lot of capital. I will literally never sell calls naked since I don't want to ruin my life and end up living in a dumpster eating saltine crackers. +* Puts can be sold/written cash covered (cash secured), which means you have the cash in your account to buy 100 shares. Your broker will put this money on hold until the trade is closed. Puts can be sold "naked" using Margin and Level 3 (with most brokers). Your broker will hold a percentage of cost of 100 shares (often 30-40%, 100% on meme stocks) allowing you to sell more puts. This increases your available capital/power as well as increasing risk. + +**General Tips and Ideas:** + +* Don't EVER leave (short) spreads open on expiration day, close them. (more details below) +* Start off trading very small. Slowly build up over weeks / months. You need to get accustomed to a fifty dollar swing a day, then a few hundred, then a few thousand. You need to ensure you don't get emotional (see below). I started trading options with 5k, then 25k, 50k, and later over 100k. I added my own funds over time and used my gains to build my account. Don’t go all in immediately, that’s dangerous and unwise. +* Especially as you build up the amount of money you have invested, keep it diversified among several stocks. + * Don't go all in on one thing, ever. Be able to take a hit from one stock and not mortally wound your portfolio. + * A company may be doing great, then there's a major product issue out of nowhere. If you are overexposed in one stock this can really hurt you. + * I had to roll options I sold that were about to expire completely worthless because FDX's CEO changed and the stock took a hard dip. +* Don't trade emotionally. If you realize you are emotionally trading for vengeance, you should probably exit the trade and cool off for several days with that stock. Same if you get caught up in a wave of hysteria. +* Have a plan for every trade, ideally with entries / exits that are specific values, ranges, or a set condition. This helps remove emotions. This is super important for strong movements and high volatility (see later). +* Use an options profit calculator from your broker or an online one before entering a "new" trade, especially a complex multi legged trade:[ https://www.optionsprofitcalculator.com](https://www.optionsprofitcalculator.com/)/ +* “Rolling” an option: + Closing your existing option and opening a similar one at different strike and/or expiration. + * Rolling a call “Up” would be selling a call you own and buying a cheaper call at a higher strike. + * Rolling a put “Down and out” closes your original one and buying or selling one at a lower strike at a longer expiry. + * Better broker interfaces have a literal “Roll” button. I know E-trade does. You can manually do it by selecting relevant contract legs. +* If you have a losing trade, re-evaluate it. If your initial assumption is definitely incorrect, close it. Don't stay in losing trades forever and lose the entire value of the option over stubbornness. If you re-evaluate and you think your assumption was right, hold, potentially consider adding another cheaper option (or buy another call / put). Rolling out sold options can help here. +* Don't try to day trade, especially with options. It's statistically unlikely to be profitable. Day-trading with options introduces extra liquidity risks and is dangerous, especially with spreads. +* Try not to over-trade, you'll likely mis-time the market over time. When I get emotional I over trade, then lose additional money on wash sales. If you scale your entries into positions it should help alleviate your desire to exit positions when they turn badly against you. Whenever I buy calls I do it at larger increments after W almost made me loss my hair; luckily it eventually came back. +* NEVER enter a position on a stock you have no idea about, especially when you read about it online or heard about it from some rando. +* At market open options contracts are often volatile and inflated. Buying during this time can be more expensive. Options are usually cheaper mid-day, I read somewhere 2-3PM is cheapest. I’ve had success around 12-1PM EST after prices settle. +* Try wheeling on cheaper stocks once you get all fundamentals down. +* When selling puts if you are very bullish consider "doubling down"; note this is higher risk. Use the credit from your put sale to buy shares or a cheap call. This can be roughly inversed with puts, except I wouldn't ever recommend shorting shares. +* Learn from your mistakes. You can’t go back in time and beating yourself up (to a point) is useless. Make a physical &/or mental note of it so you don’t do it again. If you don’t learn from it, then beat yourself up so you won’t do it again. +* If you have friends that like to trade, I find it helpful to discuss strategies and planned plays. I talk openly with my close friends about my current holdings and planned trades, it helps keep me accountable. If I get a wide-eyed look, I might be doing something excessively risky or stupid. I’ve over-leveraged myself in calls twice and I knew I shouldn’t have done it both times. When I tell my friends what I did and I’m embarrassed, it exemplifies the face that I shouldn’t have done it in the first place. You will also get ideas for new strategies or plays from them. It’s good to stay versatile and use multiple strategies when appropriate. + Beware of group think/echo chambers. +* I recommend NEVER telling someone what to buy/sell and when. I’ll tell people MY plays or what I like and why, but I will not encourage them to emulate what I do. Depending on the audience, I’ll tell them my exact positions along with my exit and entrance strategy. With closer friends I’ll offer my thoughts on their trades (if asked). If my friend is doing something really risky (one of my friends does some scary stuff) I may ask them if they want my advice, and provide it, especially if they overlooked a risk/event. I will not encourage someone to execute/enter a trade since it has a high potential for hurt feelings or animosity all around. +* Don’t fall in love with a stock. + Just because something made you money before and you have high confidence in it doesn’t mean it will keep performing. I joke that FDX betrayed me when it started dipping and losing me money. I was over-confident of its bounce-back and sold too many puts too quickly. I’m in several losing trades because of it. However, I will keep good stocks in my roster/tracking list or try different strategies or re-enter trades when they change their behavior. +* As you start to both buy and sell options and get more experience in general, you'll start seeing the two sides to every trade. You will likely start adjusting your strategies or trying new trades out because of this. Things will likely click one day. Most/all the greeks and options concepts will become almost second nature. For me this was when I could build an Iron Condor from scratch, which was a watershed moment involving a good understanding of many strategies. +* Understand Liquidity and volume. + * Trading in low volume, low open interest contracts results in wide bid/ask spreads and difficulty having your contracts filled. Look at all the data for a contract, not just the strike and price. + * Monthly Expiration dates typically have better liquidity. + * Multi-legged trades (Common examples are 2-legged vertical spreads or 4-legged iron condors) have more difficulty being filled, especially on bad brokers like Robin Hood. Having very liquid options for all legs is extremely helpful in obtaining timely and well-priced fills, which maximize your potential profits. +* Time in market vs timing the market: + * It is extremely difficult to time the market perfectly. If you wait for the perfect opportunity forever, history has proven you will miss out on gains. Keeping all your money out of the market has proven to be ineffective. Now if there is something serious happening with a stock/the market (like say a new pandemic), don’t go all in. I recommend entering incrementally at dips. If the stock has huge upside potential it may never go down, so it might make sense to partially enter at the current price. + * IMIO selling puts is a great strategy to get into a stock you like, or at least make money off it. I think buying stock in lots of 100 is usually for suckers. Selling an ATM or ITM put (assuming the math works out) on a stock you were going to buy and hold is ALMOST free money. + * I recommend keeping some cash available regardless. If you have a very large account or expect a downturn, hedging with indexes like QQQ, SPY, or VIX or calls/puts may be wise. +* Every trade can't be a winner. You will take some losses, you must get used to it. I don’t like having a realized loss of 1K or more on any trade. However, this will happen, especially with larger accounts. + * As long as you win more often and beat the S&P that year I consider it okay. I’m kind of aggressive, so I consider 20%+ annually good. 30%+ annually is great. 40%+ and I’m dancing. After trading options I am almost baffled by my old belief that 5% annual returns (mostly from dividend ETFs) was “good”. That’s nothing to me now since I’m willing to take risks. +Note: While lots of people danced in 2020, realize that’s an insane Bull Run year and is atypical. + * Adhere to your own risk tolerance and never over-extend yourself, especially with margin use. Don’t make huge gambles leaving you uncomfortable. Only gamble with money you are willing to lose. + * My personal strategy is to make safer gains for the year and then enter slightly riskier strategies using those gains. I can be slightly-moderately more aggressive and compound my gains. For me I often sell puts to make money, then when I see a big opportunity I’ll sell a put and buy an OTM or moderately ITM call. +* Understand it’s not safe to try and get rich overnight. However, once you hit big “steps” things may start to snowball. You can enter more positions and take more risks if you choose to. + * For me this when I hit 50k, then 100k. I was able to balance low and moderate risk positions to more significantly grow my account. I’ll even do a high risk thing now and again because my gains can absorb it (assuming I have them). + * I can’t wait to get to 250K, then 500K. I know it’ll take quite a long time, but I am confident I’ll eventually be able to have 500K and (hopefully) 1M in my non-401k trading account with gains and additions from my job. I can only imagine how “dangerous” I will be with that kind of capital. +* If you missed "the next big thing" like AAPL, TSLA, or the time machine I’m building in my basement. Don't get upset, learn from it. Adapt and become a better trader for next time. + * Figure out why a company was so promising, before they mooned. Determine how you would have traded differently in hindsight. Apply those lessons to the next company you believe has long term growth prospects. + * For me that's putting in 1-2.5k towards shares and/or buying LEAPS on it. Depending on my bullishness I may buy “cheap”, fairly far OTM calls. The far OTM options are sort of lottery tickets. If I'm right the (relatively) low cost will have explosive profits; if I'm wrong, they didn't cost that much so it's a calculated loss I’m willing to accept. For more serious bets I’ll buy ITM LEAPS to run PMCCs on. I also like to buy 1-2K in my 401k for very long-term plays. +* The stock market hates uncertainty, it seems to crave the status quo. A shakeup can potential tank a stock, even if it's nothing. With shares you can wait it out, but this can be problematic for options. If you see volatile/uncertain times ahead (politics, disease, manufacturing, earnings, etc.), you might want to reduce your overall portfolio risks or hedge. + +**Profit Retention / Loss Mitigation** + +* If selling options, it is a viable strategy to close early after a large gain with many DTE left until expiry. See TT videos / strategies on this. +* Don't hold options through earnings unless you literally want to gamble. I like playing on earnings run ups, but that can be risky. +* If you hold options through earnings, IV crush will happen immediately afterwards, devaluing the option. However, if the option is profitable enough, IV crush won’t matter, which will still make money for a call buyer. A sold put sufficiently far OTM will benefit from IV crush, even if the stock dips after slightly bad or lukewarm earnings. +* Don't throw good money after bad. Don't gamble on a recovery if your assumption appears to be wrong or the market is flat out tanking. If you are wrong and still believe in the company, wait twice as long as your original plan (wait for your 2nd entry point vs 1st) before adding to your position. +* Consider using stop losses to lock-in profits on rides up or sometimes use them to prevent losses. Note, stops can be easily triggered in volatile options. Now when I'm up a lot on calls (especially around earnings or large momentum run-ups) I always set stop losses. I have been burned too many times. + In December 2020 I didn't set a SL on several thousand dollars of FDX calls I was already up on and I "lost" \~$5K of unrealized gains. If you're up big, don't get too greedy. +* A possible strategy if a stock is on a tear and you have multiple options open: +Close some positions (I prefer to do this incrementally if the stock has momentum), but leave 1+ open in case the stock goes into outer space/the floor. Next, set a stop loss with a little buffer below its current movement / range so it doesn't get hit unless the stock falls hard. Finally, watch the stock closely and if it keeps rising, keep moving the stop loss up in little bits incrementally. This will let you keep more profits on a hot streak, but give some protection and secure more gains. It will also help eliminate FOMO if a stock exceeds your expectations. +* Have rules when to roll out, down & out, or up & out. I like TT’s roll at break even or at 1x loss and to always roll for a credit (or for me a very minor cost). Obviously these rules need some monitoring. Know your stocks, the news, and technicals so you don’t jump the gun. + * If you roll early for a credit and you’re right, it’s not the end of the world. You’ll just need to hold longer, which will obviously tie up capital. Sometimes it’s better to tie up some money (especially if you aren’t paying interest) than eating a huge loss. + * Rolling too late can be worse though. I currently have a very underwater FDX put I sold that is over 2x loss, rolling it does almost nothing unless you want to pay a debit or extend it extremely far out. +* On huge options gains, **I strongly you recommend taking profits by rolling up/down** or incrementally sell your contracts at several different prices (this is why having multiple contracts is nice). + * Rolling up involves selling your initial call, then using a fraction of your proceeds to buy a cheaper, further OTM call with the same expiry; puts are inverse this. When rolling up I like to ensure the new option’s cost is 15-40% of my realized gains. I’ll buy a more or less expensive new optoin based on my convication to the stock and predicted movements. You can also roll up and out to get a further expiry and strike. + * This is monumentally important if you are playing with incredibly high rising stocks or during a short squeeze. + * Sad story time: +I completely screwed up when I forgot to roll up, twice, during the GME gamma/short squeeze. I didn’t take my own advice; I didn’t have a real exit or transition plan and I got emotional. It all happened so fast and I was at work; the insanity of the run up and subsequent gamma squeeze caught me off guard. I should’ve clocked out and thought through the situation for 15-30 minutes to form an impromptu plan, then executed trade(s). My moderate risk tolerance coupled with my desire to take profits took over. When the stock partially cratered after a run up, I sold to retain gains. In the heat of the moment I thought the squeeze was squoze and it was going to plummet into the ground and I wasn’t being rational. + * On 1x 4K call I would’ve made an additional 15-25K if I rolled up to a cheaper contract with some of my profits. + * I know I missed out on significantly more with a 2nd call I had. Depending when I rolled it, it would likely have been an additional 25-50k in profits. + * I talked about learning from your mistakes above. **This mistake is branded into my brain due to the massive gains I missed out on** **by not rolling up****.** I’m furious with myself as I write this 1 week after the GME gamma squeeze, I’m a planner and I didn’t plan. If anything I own is significantly up ever again, I’m rolling up (or at least setting a stop loss). If necessary, I’ll roll up a trade multiple times to keep extracting profits. + * Learn from my mistake so you don’t miss out on gains too. I strongly recommend rolling up when you are up big on a call / roll down when you are up big on a put. This enables you to take profits, stay in the game, and keep extracting more gains. +* If you trade a lot of options, talk to your broker about a discount. I was getting the standard $.50/contract with E-Trade, but I traded over 300 contracts a quarter and was able to get the fee reduced by over $.10 by just asking. I am now doing more spreads and condors, so once my volume gets very high, I’ll ask again. +* If you have a broker that isn’t great and you want to switch, leverage your current trading fees to the new broker. Tell them you’ll move over $### thousand if they beat your current options trading fee per contract. + +**Trade Planning & Position Management Tips** + +* As you gain experience, start monitoring what kind of Delta, OTM, DTE, etc. you are most profitable with. Use it in your future trades. You'll often see the tasty trade 30-45DTE .3 Delta strategy for selling. +* Before entering a trade, look at rough technicals like resistances and supports to consider your relevant strikes as well as entry/exit points. Look at upcoming earnings & dividend dates as well as stock/market news. +* Consider staggering strikes and expirations for safety and diversity; it’s nice to avoid assignment on 3 puts at once because you used the same strike for all 3. +* Incrementally enter positions on large rises/falls. One of my favor strategies is to buy dips after over reactions. By doing this slowly in large price "steps" it helps combat FOMO and helps you avoid getting slaughtered. + * This will also help you avoid "chasing a falling knife". It also ties into having a plan. + * I set alerts at several predetermined prices and I REALLY try not to enter new trades unless I hit my preset points. It makes me less emotional and usually more effective. +* Don't buy far expiration options with poor liquidity for shorter term plays. I bought 1x GME 1-year+ LEAPS call before the 2021 short squeeze. That was stupid, I should've bought 2-3x 60-120 day calls to have better liquidity. I also paper-handed it and missed out on my lambo. +* If selling options, consider rolling (for a credit) to avoid assignment when it makes sense / meets your plan. Rolling closer to expiration can be a valid strategy to get theta on your side. On the flip side, if the stock moons or plummets it could've been better to roll before it got crazy deep ITM. See rolling “rules” above. +* Covered Calls: + * If a stock has a large movement range, I think it can be worthwhile to wait to open a CC after the last one is closed/expires. I have been more successful waiting for another opportunity vs. opening one immediately on the Monday after the second the last one expires. + * Consider selling covered calls at all time highs/peaks. If you sell a CC and the stock dips significantly, and you think it’s temporary, you can buy to close your CC for a quick profit, then reopen it later. + * If you own Meme stocks, selling covered calls runs the risk of missing out on large gains. On these stocks I typically only sell them further OTM than I normally would or not at all. If I do sell CC on a Meme stock I try to ensure I have 25-100 other shares that won’t be called away. + +**-Advanced Beginner-** + +**Spreads** + +* Spreads (with 2 legs) are neat because they manipulate how delta and theta act. It caps your gains and losses, but you can profit with less stock movement. Try several spreads on a P/L calculator to see for yourself. +* Spreads usually require margin trading. +* Spreads allow you to define max losses (assuming you close before expiration day) and use less capital. + * Experienced traders will open many spreads at identical/similar strikes to heavily profit off movement. Spreads can make you/lose you a lot of money if you are right. + * For example. I could make a $200 premium off a $500 risk trade, max loss would be $300. This is much more effective capital utilization than a naked or cash secured put, however it does not have the same downside protection or “wheel” potential as a sold put. Higher risk, higher reward. +* Vertical Debit spreads: I think of these like mini calls/puts. I personally don’t use them unless calls are outrageously expensive or the break even is absurdly high, but there’s nothing wrong with them. A call debit spread will lower your breakeven and overall cost vs just a call. You can do clever things like making a positive theta call spread if you’re creative. I like doing this since I hate losing money to theta. +* Vertical Credit spreads: + * Very good theta strategy to define downside/upside risks. + * A put credit spread is bullish and allows you to bet on upward movement with less capital and defined losses. + * A call credit spread is a bearish strategy that allows you to bet on downward movement. These are very cool since they allow you to sell calls without selling naked calls, which can ruin you financially. I see selling these as better than buying puts since it’s so much easier to be profitable; to be redundant, Θ rocks. + * [https://www.schwab.com/resource-center/insights/content/reducing-risk-with-credit-spread-options-strategy-0](https://www.schwab.com/resource-center/insights/content/reducing-risk-with-credit-spread-options-strategy-0) +* **I repeat this on purpose: Don't EVER leave short spreads open on expiration day, close them. If you don't close, they better be VERY far from the strike on a non-volatile stock. In after hours a stock can jump/dip below your strike and be exercised without the other leg to protect you. This can lead to massive, life ruining losses. This is not an exaggeration, google this and be scared. It happened to a fair number of people with TSLA.** +Video explanation: [https://www.youtube.com/watch?v=rtVFj9nRRDo&t=315s](https://www.youtube.com/watch?v=rtVFj9nRRDo&t=315s) +* Short Straddle: + +**Trading Mechanics, Taxes, Market Manipulation** + +* Learn about wash sale rules. They suck and are very easy to activate with options. This will eliminate your ability to write off losses. Over trading can easily cause wash sales. +[https://www.investopedia.com/terms/w/washsalerule.asp](https://www.investopedia.com/terms/w/washsalerule.asp) +* Short attacks: + * Learn to recognize these sketchy attacks by hedges/firms. They manipulate the market, it’s been documented countless times. A common one is rapid short selling, which pushes the price down. + * Short Ladder attacks: + * [https://www.google.com/amp/s/seekingalpha.com/amp/instablog/11442671-gerald-klein/3096735-anatomy-of-a-short-attack](https://www.google.com/amp/s/seekingalpha.com/amp/instablog/11442671-gerald-klein/3096735-anatomy-of-a-short-attack) + * Some people say short ladder attacks don't exist. I've seen some very strange stock nosedives off low volume, so I tend to think they do. + * If you plan well enough and the market doesn’t give up on the stock you may be able to use it as a great opportunity to buy the dip. +* Cramer explains how he intentionally manipulated the market when he ran a hedge fund years ago. Multiple links to the video are below since this video gets pulled often, Cramer / The street never wanted this to go public. + * Reuters article: [https://www.reuters.com/article/cramer-interview-idUKN2036292620070320](https://www.reuters.com/article/cramer-interview-idUKN2036292620070320) + * httpss://youtu.be/r07Gg92YjOI + * [https://youtu.be/VMuEis3byY4](https://youtu.be/VMuEis3byY4) + * [https://youtu.be/JEzsfPmh894](https://youtu.be/JEzsfPmh894) + * [https://youtu.be/QFfjX8dW-QQ](https://youtu.be/QFfjX8dW-QQ) + * Due to this video I don’t fully trust Cramer. His show can give you stock ideas to buy (or inverse), but you never know where his true loyalties lie. +* Plan for taxes if you are up big. You may need to over withhold or contribute to taxes quarterly depending on your situation. [https://www.irs.gov/taxtopics/tc306](https://www.irs.gov/taxtopics/tc306) + +**-Intermediate / Advanced Strategies (work in progress)-** + +*You’ll notice many of these strategies inverse one another.* + +**Options Strategy Finder** + +This website is great for learning about new strategies, you’ll see many links to it below. + +[https://www.theoptionsguide.com/option-trading-strategies.aspx](https://www.theoptionsguide.com/option-trading-strategies.aspx) + +**Short Strangle / Straddle** + +* Both of these strategies profit from little price movement. I recommend using a P/L calculator to determine BE, profit, etc. +* A straddle sells (or buys) two options at the same expiry and strike. +* A strangle sells (or buys) two options at same expiry with different strikes. +* Both these strategies involved selling a Call and a Put for a credit. Straddle uses ATM legs, strangle uses OTM legs. +* Limited max profits and unlimited risk. Due to the unlimited risk, I am not a fan. However, many people like these a lot. +* [https://www.theoptionsguide.com/short-strangle.aspx](https://www.theoptionsguide.com/short-strangle.aspx) +* [https://www.theoptionsguide.com/short-straddle.aspx](https://www.theoptionsguide.com/short-straddle.aspx) + +**Iron Condor and Iron Butterflies** + +* These strategies profit from neutral or mostly neutral stock movement. They receive a credit to open and benefit from theta decay. If your stock is range bound, these may be a good choice. +* These are both 4 "legged" trades, so you will have 4 trading fees to enter or exit the trade. A lower cost or zero cost broker shines here. However, “bad” free brokers will give you poor fills, which may not be worth the discount. +* Condors and butterflies have "wings" which are your purchased puts and calls. The wider the wing the higher the max profit/risk. The condor body can be riskier and skinny with a narrow high profit range or wider for a much greater chance of success with lower payout. +* An iron condor is built by combining a put credit spread and a call credit spread with the same expiry. +* An iron condor can be thought of as a modified short strangle with limited risk, and therefore a bit less profit. I prefer defined limited risk. +* The butterfly is similar except instead of a plateau it has a sharp peak. My personal mental note is that a condor looks more like a strangle with wings, while a butterfly looks like a straddle with wings. +* Pay attention to earnings dates when you open these, I have forgotten to check before and it led to bad trades. +* [https://www.theoptionsguide.com/iron-condor.aspx](https://www.theoptionsguide.com/iron-condor.aspx) +* [https://www.theoptionsguide.com/iron-butterfly.aspx](https://www.theoptionsguide.com/iron-butterfly.aspx) + +**Long Condor (Debit Call Condor)** + +* The debit version of an Iron Condor. You expect the price to stay inside your defined range. This strategy profits from neutral or mostly neutral stock movement. I’ve never tried this, Iron Condors make more sense to me. +* Limited risk / limited reward. +* [https://www.theoptionsguide.com/condor.aspx](https://www.theoptionsguide.com/condor.aspx) + +**Short Condor (Credit Call Condor)** + +* Inverse of an Iron Condor. You expect the price to go OUTSIDE your defined range. These are useful when you expect significant price movement. Credit to open. +* Limited risk / limited reward. +* Can be harder to set up. I want to try these, haven’t yet. +* [https://www.theoptionsguide.com/short-condor.aspx](https://www.theoptionsguide.com/short-condor.aspx) + +**Reverse Iron Condor** + +* Inverse of an Iron Condor. You expect the price to go OUTSIDE your defined range. These are useful when you expect significant price movement. Debit to open. +* Limited risk / limited reward. +* [https://www.theoptionsguide.com/reverse-iron-condor.aspx](https://www.theoptionsguide.com/reverse-iron-condor.aspx) + +**LEAPs** + +* LEAP Options are options that are long term with many DTE, often over a year until expiration. LEAP calls are great for long term growth plays (downtrends with LEAP puts) or simply when you really like a company and can't afford 100 shares. LEAPs (or any "longer term" option) enables you to sell a PMCC or PMCP (below) + +**PMCC / PMCP** + +* PMCC or PMCP are poor man's covered call (or poor man's covered puts). They are diagonal options often used with purchased LEAPs. You sell a shorter DTE call/put with a further OTM strike than your purchased call/put. For PMCC/PMCPs it is often recommended to recoup your extrinsic value as soon as possible, some recommend with your first call CC or put sale, to ensure you are positive if the option is assigned early. These have a lot of moving parts and strategies. If you buy a barely ITM call/put and sell a nearby strike call/put you run the risk of the purchased option getting "blown by" on large stock movement and ending up with a very negative losing trade. Keeping your purchased LEAP deeper ITM should protect you. Check your initial PMCC using an options calculation to make sure you don't screw up. +* I'm currently tinkering with these myself. So far I like .7-.9 delta call LEAPS with 30-45 DTE calls on my CC. The goal is to hold the LEAP long term, potentially until expiration, and constantly sell calls/puts on it that expire worthless. Typically the call/put is rolled up and out or down and out if it's going to be assigned, unless you don't want your LEAP anymore. +* Some people look at these many sold CC or puts as profits, I look at them as lowering my cost basis until it's zero (or even negative). I have a page in my notebook I write each CC on my NIO LEAP (I Meme stock sometimes). I find it satisfying to slowly see the cost of the original option disappear. When I originally wrote this I had \~2 years left on it and it's 9-10% paid for; that doesn't even count the actual gains the LEAP has. +* TT states this is considered an IV play, which I partially agree with. You want to buy these during low IV times since an IV drop will hurt your LEAP value. I look at them more as a way to sell calls/puts on a high IV company with a lot of price movement and potential upside/downside. + +**Advanced Orders** + +* Guide to several order types: [https://us.etrade.com/knowledge/events/webinars/order-types-from-basic-to-advanced-07162019](https://us.etrade.com/knowledge/events/webinars/order-types-from-basic-to-advanced-07162019) +* One Triggers Other (OTO): + * Good brokers will allow you to set these up, some will require a desktop to do it. This lets you link one action to another. In programming think of it like an if-then. You’ll tie a buy/sell to another buy/sell + * Setting trailing stops on options is very chaotic since their price movement can be drastic due to volatility. I prefer to set my trailing stop to a stock. + * What I like to do is set a trailing stop on a stock (or just link it to a stock price drop) and have it sell 1 share I own. Then it immediately executes a market order to sell my call. I’ve had good luck doing this with incredibly volatile plays were stop losses aren’t effective. I’ll often have an order saved and ready saved for when a strong run up starts. When my price alerts start blowing up my phone, I’ll immediately hit execute to turn it on. + +&#x200B; + +Disclaimer: + +I’m not a financial adviser, I'm actually an engineer. I’m not telling you to invest in a specific stock/option or even use a specific strategy. I’ve outlined and more extensively elaborated on what I personally like. You should test several strategies and find what works best for you. + +I'm just a guy who trades (mainly options) part-time for financial gain and fun. I don't claim to be some investing savant. +Based on the [short sell list](https://www.asx.com.au/data/shortsell.txt) there was almost 1.4 million Brainchop shares shorted on Friday last week (probably from earlier in the week too) that should be finalised by Monday. + +This will leave us WITHOUT the big manipulators of the stock price, letting the stock run free. + +As that Darude guy posted earlier (and seems to have deleted) there has been more articles posted by the Greek University clarifying Brainchip's involvement with NASA. + +A tweet was also uncovered by a leader of the greek military where he retweeted a post from Brainchip last week. + +We are opening green, and if there is an announcement, we are hitting $1. + +If we don't end green at close of market Monday, I'll take a 1 month ban. + **Benefits of NFT tickets include:** + +&#x200B; + +* **Preventing scams and fake tickets**: The blockchain provides a single source of truth for both organisers and ticket holders. The transfer of NFTs from initial sale to any subsequent resale is recorded immutably on the blockchain, so all parties involved can easily verify the authenticity of the ticket. Even cooler, in cases where resale of tickets is strictly forbidden, NFTs can be programmed as non-transferrable, so they physically cannot be moved to another buyer. +* **Perpetual revenue:** As programmable digital assets NFTs can have built-in rules for resales, merchandise, content and royalty splits. This means that the organiser can determine profit sharing percentages for any future resales or downstream creative content on secondary markets, and reliably receive these funds knowing they are unalterable within the NFT’s coding. +* **New revenue opportunities:** NFTs put tickets into the realm of programmable money, opening up unlimited potential for new revenue opportunities. For example resale of NFT tickets as **collectables,** using NFT tickets as a gateway for giving food and drink deals, even rewarding super fans who have collected a certain number of event tickets. + +Over the past year the NFT tickets have gained more attention in the crypto space. I have compiled extensive list of developers, investors, financial instintutions, ticketing companies and NBA owners that have advocated the benefits of NFT ticketing + + **Mark Cuban – Entrepreneur, shark and owner of the Dallas Mavericks** + +&#x200B; + +https://preview.redd.it/mxtowrn4r7g81.png?width=632&format=png&auto=webp&s=b136df5f401c2b96e18ec2f730ed8be90dea1f01 + + **Gary Vaynerchuk - CEO of** **Vaynermedia**\*\*, Creator of veefriends\*\* + +&#x200B; + +https://preview.redd.it/racoxoa7r7g81.png?width=512&format=png&auto=webp&s=4ee1e8dacce4aa177bbd5e6acc8d28655a9b0324 + + **Jack Groetzinger – CEO Seatgeek** + +&#x200B; + +https://preview.redd.it/r6mrqrz9r7g81.png?width=359&format=png&auto=webp&s=543bcc908a9595bb1ef6b0b6833bbc6dc9e39c83 + + **Ted Leonsis – owner of NBA's Wizards, the NHL's Capitals, the WNBA's Washington Mystics** + +&#x200B; + +https://preview.redd.it/nqdc3s0dr7g81.png?width=944&format=png&auto=webp&s=46fdacbdeac0f0fdadf1d7bd6830464e947398e2 + + + +**Barry Ritholtz – co-founder of Ritholtz wealth mangement – 2 billions usd under management** + +&#x200B; + +https://preview.redd.it/1uni3sggr7g81.png?width=455&format=png&auto=webp&s=58315aa34030c765c62263b73d3f3c42e46bb86a + + **Coinmarketcap** + +&#x200B; + +https://preview.redd.it/xf645lvjr7g81.png?width=474&format=png&auto=webp&s=9302749976153bc70298effdbf755c363ee2afaa + + **Bankless** \- Carly Reilly + +&#x200B; + +https://preview.redd.it/echesa5nr7g81.png?width=368&format=png&auto=webp&s=c76733e2e6cbf65ff0111c1169b11684092f364f + + **Grayscale - Worlds largest crypto asset manager** + +&#x200B; + +https://preview.redd.it/cm2bja5sr7g81.png?width=945&format=png&auto=webp&s=6bb50d036090b6c5a289655e11ddf6e1ea76758e + +**Snoop Dogg** + +&#x200B; + +https://preview.redd.it/rmk8d86xt7g81.png?width=316&format=png&auto=webp&s=56140160d688037f9c2628ee1b8e116ed059f09f + +&#x200B; + + **Vitalik Buterin - co-founder Ethereum** + +&#x200B; + +https://preview.redd.it/4wp0jpcvr7g81.png?width=345&format=png&auto=webp&s=ebbf9385fc7040321fd62d505f9cd75261b30675 +It's amazing that we've gotten to 80,000 accounts this quickly, but there's almost 700,000 users on SuperStonk + +I know there's plenty of shills and bots, and some people cannot DRS at all but that's not the majority of people. +There's got to be a huge number of you lads that are just putting it off or are nervous/confused right ? + +If you have a question or concerns. DROP IT IN THE COMMENTS. + +DRS IS THE ONLY CONFIRMED WAY TO THE MOASS + + +None of this is financial advice, I literally believed in Santa until I was 19. +Morning everyone. Had some good news this morning with my investment in Meggitt. They are about to be bought out, with shareholders receiving 800p a share. I've only been investing for a couple of years, so I'm curious what the best course of action is in this situation. Do you just wait it out to receive your compensation? The share price is currently sitting at around 750p, up 60% today, so there is still some potential upside (my average price is 240p). Thanks in advance. +Growing up my dad was always a dedicated and diligent business man, but a private person. We always knew the broad facts about the businesses he ran, but were never in the loop about the particulars. This disconnect worsened when we moved to the United States in my early teens and dad kept looking after the businesses remotely, often traveling back and forth. We kept being taken care of but had little idea of how the businesses ran, the people involved and especially the numbers. + +That all changed recently when he sat me and my siblings down and opened the books. It was overwhelming. Everything came spilling out: multiple businesses we didn’t know existed, business partners we’ve never met, a trust made on our behalf we didn’t know anything about, lawyers, lawsuits, millions of dollars in foreign bank accounts, properties etc. It was a lot to take in, we also learned he doesn’t have a will or estate plan in place. + +He recently turned 65 and I think it dawned on him that he won’t be around forever. He grew up poor and has done an extraordinary job building all these businesses, but he has done little to prepare us to deal with them. We knew this would come up eventually but we were not prepared for the magnitude of activity he is involved in. + +My siblings aren’t super interested in the business, as the eldest it’s my responsibility to work with him to make a plan. + +I have my own income, career and plans to take care of but putting a plan in place to deal with this just became priority No 1. Also did I mention I live in Asia and he lives in the americas? Where do I begin? + +If anyone has a similar experience please let me know how you dealt with it. + +If anyone can help me find a book, format or document to think through and structure this information, that would also help. + +Thanks! +Today I got $22.01 in my account from KOF (Coca Cola Femsa, Latin American bottler of Coke, look them up!). It's a really nice feeling. + +I have my Roth IRA in index funds because the US and world markets have 40 years to grow before I need to touch that money. But I dunno about you guys, but my life as a 30 year old isn't totally certain yet. I didn't settle down and get a comfy office job that's going to pay me reliably for the rest of my life, nor do I have the intention of doing so. So part of the money I'm investing now (which is not all my savings, I keep some on hand) is money that I might need in 3 years, 5 years, 10 years. I don't plan on taking the investment out, but I would like to know that I have something that pays me reliably and that I can turn off DRIP if extra income ever becomes necessary. + +So it's nice. For those of you who have large income streams, go ahead, buy your Teslas and YOLO away. But me, I can't afford to do that. The guys who doubled their money with Tesla or TQQQ are probably laughing at my measly 22 bucks today. But 22 bucks to me is a lot. That's almost 2 hours of tutoring for me (one part of my job). And the best part? It's 22 bucks that I can rely on regularly without the need to gamble, speculate, or be worried about the state of the world economy or financial markets. + +People with different strategies or ways of living, more power to you! I wish I was making more money than I am and could afford to go riskier. But this is the way I've chosen, and I'm happy to say that I've found a way that works for me. I imagine there may be others like me. + +Cheers! +I am currently 23 years old and am single. I have zero debt, have a car paid in full, and I just recently moved back in with my parents a few months ago since my job transitioned to work from home. + +My goal is to be FIRE by the age of 35 or 40. I am currently making $80k a year with a 6% contribution to my 401k. This leaves me with a total take home of about $4,500 a month. $500 of this goes into my Roth IRA where I am investing 80% into VTSAX and 20% into VTIAX. The rest is currently going into my high-yield savings account that I use as an emergency savings. Here is where I currently stand: + +$15k in my high-yield savings account +$8k in my Roth IRA +$1k in my 401k + +To best reach my goal, what should I be doing with my money? I also plan to move out of my parents house in September of this year since my jobs office is in another city, and that’s when we are expected to be returning. This also leads me to the question if I should look into purchasing a home, or get a new apartment. I would like to buy a home to be gaining consistent equity, while I also understand the safety of renting an apartment, although I’m not fond with the idea of not earning any equity along the way. Any advice is great appreciated. + +EDIT: In regards to many of the responses, I would like to note that I currently work as an entry level Software Engineer and this is my first full time job as a new grad. My company also matches 6% towards my 401k contributions and has a “First time home buyer” program where they cover $10k of the closing costs towards a new home (Has to be a single family home, cannot be a duplex, etc.). Thank you everybody, all of this information is extremely valuable and I am so surprised and grateful to have so many incredible responses! +Well, I didn't want to post this, but I have to... + +About 6 months ago someone invited me and my friend to a "business opportunity" meeting. I kinda knew it was going to be a pyramid scheme presentation, but we still decided to go to support our "friend". And there we were... listening to how our lives will change if we join the company. They showed us the regular ponzi motivational videos, exotic cars, etc. I knew it was all fake, but my friend trusted the guy who invited us and he decided to join, even though he had very little savings in his account. I told him not to, but he wouldn't listen to me, he was too immersed with the idea of becoming successful like the people in the videos. He wanted to travel the world, like his mentor told him he would. I decided to just go with it and support him. +After two months, he wasn't making any money, even though he was working a lot. Instead of leaving the scheme, he decided to quit school and work even harder. I think his mentor (who I despised at this point) pushed him to do so. I was worried about him, so I decided to devote all my free time to help him get referrals. Together we were doing good, but he was still loosing money (both in forex and in the mlm part of the company). Last month he told me he doesn't have any money left to invest. Hell, he didn't even have money to eat! But the idea of leaving his mentor and the company just wasn't an option for him. +A few days later he went missing. His uncle found him in a forest near his home... He hanged himself. + +He was my only real friend, who I truly loved. He was a great guy! Every day I think of him and why I didn't do more to stop him joining the forex Ponzi scheme at the beginning. This will impact me and his family for the rest of our lives. I just need a lot of time to process what happened. +Welcome to the Daily General Discussion thread of /r/EthTrader. + +*** + +Thread guidelines: + +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All [sub rules](https://www.reddit.com/r/ethtrader/about/rules/) apply here so please be familiar with them. + +*** + + Resources and other information: + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! + +Buddy will come into money to pay off all debt including mortgage. He has retirement pension from Army, health coverage for him and his wife for life, his wife has a healthy 401k. Not to mention both will be able to collect SS in a few years. + +Why wouldn't it make sense to pay off mortgages? +# **TL;DR - [Do this now](https://www.reddit.com/r/personalfinance/comments/6yv4gb/official_mega_thread_recent_equifax_security/dmqdld2/)** + +--- + +* Thread Edited 9/13/17 - 2:00 PM EST - Thread is now sorted by "new" to make it easier for new questions to be answered. You can manually sort by "best" to see additional advice that members of the community have found to be helpful. Also added miscellaneous additional info. + +* Thread Edited 9/12/17 - 11:00 AM EST - added new information on Equifax offering free credit freezes. + +* Thread Edited 9/11/17 - 2:30 PM EST - added new information on accuracy of "you have been exposed" message, Equifax PIN, potential lawsuits, limited site availability, and additional news articles. + +* Thread Edited 9/8/17 - 1:00 PM EST - Added new Clarification around the meaning of the arbitration agreement +[Additional evidence on this](https://twitter.com/AGSchneiderman/status/906195350532304896) + Equifax statement [part 1](https://twitter.com/AskEquifax/status/906263040995274752) and [part 2](https://twitter.com/AskEquifax/status/906263110473928706) + +--- + +All, + +This thread will serve as the r/personalfinance official mega thread for discussing the recent [equifax security breach](https://www.bloomberg.com/news/articles/2017-09-07/equifax-reports-cybersecurity-incident-potentially-impacting-143-million-u-s-customers). /r/legaladvice also has a [mega thread on this issue](https://www.reddit.com/r/legaladvice/comments/6yvj5c/megathread_equifax_security_breach/) if you want to focus on legal options. The TL;DR of that thread is wait to join a class action and do not sue in small claims court. + +**Summary:** + +* "Equifax Inc. said its systems were struck by a cyberattack that may have affected about 143 million U.S. customers of the credit reporting agency...Some U.K. and Canadian residents were also affected." [Canadian Thread](https://www.reddit.com/r/PersonalFinanceCanada/comments/6yq9gu/equifax_hacked_canadian_consumers_might_be/) and [UK Thread](https://www.reddit.com/r/UKPersonalFinance/comments/6yvunm/misc_uk_details_in_equifax_data_breach/) + +* "Intruders accessed names, Social Security numbers, birth dates, addresses and driver’s license numbers...Credit card numbers for about 209,000 consumers were also accessed." + +* "Criminals took advantage of a "U.S. website application vulnerability to gain access to certain files" from mid-May through July of this year...The intruders also accessed dispute documents with personal identifying information for about 182,000 consumers." + +* "The company set up a website, www.equifaxsecurity2017.com, that consumers can use to determine whether their information was compromised. It’s also offering free credit-file monitoring and identify-theft protection." + +* The purpose of this sub is not to provide legal advice. However, per https://www.equifaxsecurity2017.com/frequently-asked-questions/ +"The arbitration clause and class action wavier included in the TrustedID Premier Terms of Use applies to the free credit file monitoring and identity theft protection products, and not the cybersecurity incident." + +* **Identity Theft Wiki** - Please see the [identity theft wiki](https://www.reddit.com/r/personalfinance/wiki/identity_theft) for steps to take if your identity has been stolen. You may wish to freeze your credit with the different reporting agencies. Note that their websites are currently under a heavy load and may be unresponsive. For more information on what freezing your credit means, see [the FTC's explanation](https://www.consumer.ftc.gov/articles/0497-credit-freeze-faqs#score) + +Equifax also recently [announced](https://twitter.com/Equifax/status/907596989260496896) that they are waiving fees for freezing your credit with them. It is unclear if they plan to offer refunds to those that paid to do so before today. + +**Using www.equifaxsecurity2017.com:** + +* A helpful discussion adapted from u/likeasomebodie on using www.equifaxsecurity2017.com: + +* Check to see if you are effected using [this link](https://www.equifaxsecurity2017.com/) + +* Either of the following messages from Equifax mean your information was stolen: + +Thank You -- Based on the information provided, we believe that your personal information may have been impacted by this incident... + +Thank You -- Your enrollment date for TrustedID Premier is: xxxxxx Please be sure to mark your calendar... + +* Either of these messages mean that your SSN, DOB, full address, and potentially DL number have been stolen. Assume that information is now public data, because if it's not out there already someone's indexing it right now. + +* Please note that some media outliets are reporting that these messages [are not completely reliable](https://techcrunch.com/2017/09/08/psa-no-matter-what-you-write-equifax-may-tell-you-youve-been-impacted-by-the-hack/) However, it still appears that using this site provides at least some information, even if it is not completely accurate. + +* See the [identity theft guide](https://www.reddit.com/r/personalfinance/wiki/identity_theft) for additional information on freezing your credit, next steps, etc... + +**Additional Information:** + +* Your credit card company may offer some form of identity theft protection/credit monitoring. You should review the benefits that your card has to see if this applies to you. + +* Equifax is making credit freezes free for some customers; it isn't clear if this extends to everyone or only certain individuals. UPDATE - it should be free to all - see the [announcement here](https://twitter.com/Equifax/status/907596989260496896). No word on whether previously paid fees will be refunded, but you can call and ask. + +* It appears that, in some cases, the PIN you get from Equifax when freezing your credit is just [a time stamp of when the freeze was initiated](https://www.nytimes.com/2017/09/10/your-money/identity-theft/equifax-breach-credit-freeze.html). If this happened to you, consider requesting a new PIN by mail. + +* Some individuals are reporting difficulty obtaining a credit freeze online. You may need to submit documents via mail if this is the case. + +* There is now at least 1 [class-action lawsuit](https://www.bloomberg.com/news/articles/2017-09-08/equifax-sued-over-massive-hack-in-multibillion-dollar-lawsuit) on this issue. Please keep in mind that per Equifax's most recent financials, it has a book value of equity of only about 3 billion dollars on total assets of about 7 billion dollars, so it seems unlikely that 70 billion, even if awarded, could actually be paid. + +* u/rholowczak has put together a handy tree of phone options when calling the major credit bureaus [here](https://www.reddit.com/r/personalfinance/comments/6yv4gb/official_mega_thread_recent_equifax_security/dmyg4xe/). + +**Related Links/Threads On This Issue:** + +Author | Thread +---|--- +u/drosophilawing | [Equifax Reports Cyber Incident, May Affect 143 Million U.S. Customers](https://www.reddit.com/r/personalfinance/comments/6yq36a/equifax_reports_cyber_incident_may_affect_143/) +u/KlugReeOlympic | [Do not use equifaxsecurity2017.com unless you want to waive your right to participate in a class action lawsuit](https://www.reddit.com/r/personalfinance/comments/6yryuu/do_not_use_equifaxsecurity2017com_unless_you_want/) +u/likeasomebodie | [How to tell if you got Equifax'd and what to do about it](https://www.reddit.com/r/personalfinance/comments/6ysxxf/how_to_tell_if_you_got_equifaxd_and_what_to_do/) +u/chocolate_soymilk | [Credit Freeze 101: What they are and how they can help] (https://www.reddit.com/r/personalfinance/comments/6yvhiz/credit_freeze_101_what_they_are_and_how_they_can/) +NY Post | [Cause of Breach](http://nypost.com/2017/09/08/equifax-blames-giant-breach-on-vendor-software-flaw/) +Telegraph | [Info for U.K.](http://www.telegraph.co.uk/technology/2017/09/08/equifax-hack-britons-data-watchdog-investigates-ukimpact-major/) +Tech Crunch | [PSA: no matter what, Equifax may tell you you’ve been impacted by the hack](https://techcrunch.com/2017/09/08/psa-no-matter-what-you-write-equifax-may-tell-you-youve-been-impacted-by-the-hack/) +Bloomberg | [Equifax Faces Multibillion-Dollar Lawsuit Over Hack](https://www.bloomberg.com/news/articles/2017-09-08/equifax-sued-over-massive-hack-in-multibillion-dollar-lawsuit) +New York Times | [After Equifax Breach, Here’s Your Next Worry: Weak PINs](https://www.nytimes.com/2017/09/10/your-money/identity-theft/equifax-breach-credit-freeze.html) +CNN | [Equifax hack: What's the worst that can happen?](http://money.cnn.com/2017/09/11/technology/equifax-identity-theft/) + +**Administrative Items:** + +* All other threads on this topic will be locked to help keep the sub manageable. Much thanks and credit is due to u/drosophilawing, u/KlugReeOlympic, and many others for their timely posts and comments on this topic. + +* Initially, this thread will not be stickied as our experience is that stickies tend to be ignored by some users. We will sticky it at a future time if needed. + +* We sent a message to the moderators of /r/legaladvice asking that they let their community know about this thread. They have linked to this thread from their community and have created their own [mega thread here](https://www.reddit.com/r/legaladvice/comments/6yvj5c/megathread_equifax_security_breach/) that focuses on legal options and remedies. If you want to know whether/how you can sue over this, they will be better equipped to handle it (although the tl;dr is probably that nobody is quite sure yet). Thank you in advance to anyone coming from r/legaladvice to help - and to anyone going there from r/personalfinance, please remember to follow [their guidelines](https://www.reddit.com/r/legaladvice/comments/3jm6u2/the_law_of_the_land_please_read_before/). + +* Our normal [rules](https://www.reddit.com/r/personalfinance/about/rules) still apply to this thread with the **exception that on-topic legal discussion directly related to this issue will be allowed**. + +* Please keep in mind that political commentary and threats of violence are not allowed. To be clear, comments like "Good job America, this is why we need regulation" or "The executives should be killed for this" are **not allowed**. +Good morning San Diago, + +I am Rensole, + +Do you smell that? + +\*insert flashy intro card\* + +&#x200B; + +https://preview.redd.it/eu4nrnsuuat61.png?width=680&format=png&auto=webp&s=6fd1a17f30577791d5f7f3372ed3157c2a1a2f45 + +None of this is financial advice, I'm just an ape who found a typewriter with an internet connection + +So lets go people! + +First of let's start with the two form-4's that went up yesterday + +[https://gamestop.gcs-web.com/node/18806/html](https://gamestop.gcs-web.com/node/18806/html) + +[https://gamestop.gcs-web.com/node/18801/html](https://gamestop.gcs-web.com/node/18801/html) + +Both George Sherman (current CEO) and Chris Homeister (current EVP and CMO) have both got their bananas yeeted from them, Due to "not meeting targets", in other words they didn't do their job the old board would've let them get away with it but the current one does not. + +George Sherman had to forfeit 587,248 Shares + +Chris Homeister had to forfeit 119,048 Shares + +&#x200B; + +https://preview.redd.it/08l0toeexat61.jpg?width=640&format=pjpg&auto=webp&s=3bec9a2abc5a86cd98ded4a4fd0049e771d2c1be + +# Dividends + +I've seen some talk across the board regarding the Dividends and people think dividends are an automatic shoe in at this point, but don't count on it, read [This](https://www.reddit.com/r/Superstonk/comments/mqmsvf/re_gamestop_2021_dividends_speculation/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) + +Again try to remain level headed, even though we would love to see things like this happen immediately, remember the company is doing a lot of stuff right now and we have to look at all possibilities right now, so read the post I linked as it seems well thought out + +&#x200B; + +&#x200B; + +[DFV](https://i.redd.it/xzeztwbayat61.gif) + +# DFV options chain + +Ok so again this is something I've seen pop up here in the past few days, when DFV executes his orders it would cause a squeeze! no sorry guys, these have been hedged a long time ago and this wouldn't cause any big movements. + +it's good to be excited but please remain realistic. + +Once it got near his number the broker would've bought them already and held them, this is simple market mechanics. + +&#x200B; + +https://preview.redd.it/5yvymtq6zat61.jpg?width=640&format=pjpg&auto=webp&s=a82cd01a45c8aad73d9b09bdf25ed83eb2e39291 + +SLGG + +Now this is something that I came across on the boards again, remember RC being in California and people where wondering if he was there to look for partnerships or a new CEO. + +Welcome to the Super league Gaming 10k form + +[https://ir.superleague.com/sec-filings/annual-reports/content/0001654954-21-003010/0001654954-21-003010.pdf](https://ir.superleague.com/sec-filings/annual-reports/content/0001654954-21-003010/0001654954-21-003010.pdf) + +&#x200B; + +https://preview.redd.it/ztm9i57kzat61.png?width=866&format=png&auto=webp&s=7ea19f40d47e34c6f049f54b15a0f880518d4dde + +The "amateur" sector is one of the harder sectors to reach for esports, but it seems there may be a partnership coming if I read this correctly, as SLGG doesn't have any Retail factions... who could it be? + +Not a sure thing by any means but it's nice to see regardless. + +&#x200B; + +&#x200B; + +https://preview.redd.it/tewjmip40bt61.jpg?width=640&format=pjpg&auto=webp&s=ec19c4841e2a5045f8e740cd1a75397072aede02 + +Y'all remember this one? + +Good onto Book 2, chapter 1 Advanced Fuckery part 1. + +Yesterday I came across [this](https://www.reddit.com/r/Superstonk/comments/mqxp74/the_biggest_threat_to_moass_youtube_live/) thread, and I tend to agree, even though Youtube people do have a place in all of this, remember that what OP posted there could very well be real. + +The post goes over a hypothetical, if a YT is bought off and during the squeeze they say what the paying party wants them to say. (again not saying this as a fact but as possibility). + +Again plan your own exit strategy, make your own plans, do not count on others to make it for you and set the prices however high or low you would like them to be. it's your money and your shares and you should act to that. I briefly mentioned this last week, but feel like this should be reiterated. + +Do your own legwork, look at existing strategies that are online and see how YOU want to do YOURS + +&#x200B; + +https://preview.redd.it/wss7r5y51bt61.png?width=640&format=png&auto=webp&s=29cb078c50fa4943d9f04b2f72803039da849dea + +Like this guy, he gets it, do your own research, do your own planning and act accordingly. + +that's the best advice I can give everyone, do your own work, your own research and your own exit strategy (no we do not have a set one for everyone, nor will we agree on we all sell at X price, this is collusion and illegal and won't be allowed on this sub). + +just... please do your own work and exit strategy guys. + +&#x200B; + +https://preview.redd.it/7d4ym4663bt61.png?width=554&format=png&auto=webp&s=b7f1445ea1df081b3d89197298eb7161ad4051a9 + +# EXCELLENT! + +Be friendly, help others! + +as always we are here from all different walks of life and all different countries. + +This doesn't matter as we are all apes in here, and apes are friends. + +Doesn't matter if you're a silverback a chimp or a bonobo. + +We help each other, we care for each other. + +**Ape don't fight ape, apes help other apes** + +this helps us weed out the shills really fast, as if everyone is helpful, the ones who aren't stand out. + +remember the fundamentals of this company are great, so for the love of god if someone starts with trying to spread FUD, remind yourself of the fundamentals. + +There is no sense of urgency, this will come when it comes, be a week, be it a month be it six. + +We don't care, just be nice and lets make this community as Excellent as we can! + +&#x200B; + +https://preview.redd.it/jl56f6f83bt61.png?width=400&format=png&auto=webp&s=6c7adb9f0129a762969cbe00d351250f6947676f + +Remember none of this is financial advice, I'm so retarded I'm not allowed to go to the zoo 'cause they'll put me in the cage with the rest of my ape brothers. + +If anything happens throughout the day I will be adding it here. + +backups: + +[https://gmebackup.tumblr.com/](https://gmebackup.tumblr.com/) + +[https://twitter.com/rensole](https://twitter.com/rensole) + +[https://twitter.com/HeyItsPixel1](https://twitter.com/HeyItsPixel1) + +[https://twitter.com/warden\_elite](https://twitter.com/warden_elite) + +[https://twitter.com/RedChessQueen99](https://twitter.com/RedChessQueen99) + +And I'll be posting updates as they happen here: +I guess this is mostly just a post to vent a little bit because lately I have just been getting completely shat on around various subs for being a landlord or being an Air Force veteran. + +I used to have such great discussions with people on reddit about how to invest in real estate. People just starting out or were curious about REI would reach out all the time and we would have great conversations. + +Lately, whether I would bring it up or not, reddit trolls would just absolutely start trashing me on random comments I would make. I get death threats in dm's...people following me around on different subs...crap like that. + +I think I'm just going to make a separate account that has nothing to do with real estate or the military. + +Guess I must be doing something right if people are acting like I'm the big bad 1%. Feels weird being dehumanized so much. +I am about to make the bet of my life, and wanted to run it by you guys first. I've done the calculations and I have the figures. It seems too good to be try so here goes: + +TQQQ as you know is trading at a new 52wk low. As a value investor, this always gets my attention but I know it is a 3x leveraged fund and NOT a stock. I have traded it for a couple of years and have always been successful as I don't try to get greedy with it. + +My INCOME portfolio that I live off of is nearly destroyed. I do not have a job as my health does not allow me to work at this time. I thought I could get by from selling puts and wheeling, but you can figure out how that went. + +I am down 45% on my long positions and at the point now where covered calls do not pay enough for me to meet my bills. + +I have spent all of Sunday trying to come up with a plan to make the 45% back in 6 months WITHOUT the market going up and at least get back to the level where I can sell covered calls to live again. + +&#x200B; + +Deep breath... here we go: + +1) I liquidate EVERYTHING to get approximately 150k cash. + +2) I sell 50 contracts of TQQQ 30p for 5/13 = $3250, 12.5% below current 34.27 + +3) Since this is a bear market, I am going to assume the worst and I get assigned. + +4) I immediately fall back and throw the Hail Mary pass and sell 50 contracts of TQQQ 35c for Jan 23. Due to RIDICULOUS IV I get a whopping 9.20 a contract for $46000 + +5) I wait 8 months and IF WW3 doesn't happen, they SHOULD be called away at 35 for an additional $25000. Total gain is a whopping $74250 which is 49.5% and I have made back almost all of my losses. + +6) If we are still in a bear market, I sell another LEAPS to Jan 24 for who knows how much but it will be more than enough for me to live on - I only need 25k a year as everything is paid off. + +So to sum things up: + +&#x200B; + +$150k investment + +Max loss = $100720 (TQQQ=0) + +Max gain = $74250 + +Time = 8 months + +&#x200B; + +Now please tell me why this is a bad idea? +Your markets are run by bots. Now your /r/Asx_bets daily threads are too. + +Read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) people[.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +[Posts relating to the "Is /r/ASX\_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. You have been warned.](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share) + +Automoderator may provide "Guidance" for Lazy and zero effort posting. + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related.](https://discord.gg/wsNDGTf5QH) +The dam holds back most of the water even as cracks start to form. When that dam finally breaks it’s not a slow trickle that comes through but a tidal wave force. + +I suspect DRS and its impact on price action is the same. As long as they have enough shares to play with in the DTCC vaults the dam holds back the water but when that tipping point is reached it will go from unnoticeable to huge impact. + +This leaves the shills and their masters with little recourse except to try to push the false narrative that DRS isn’t working during the period of time where price action can still be controlled by the opposition. + +DRS won’t work until it does work, but all that registering during non-work time is vital to reach the tipping point where the dam breaks and the rocket shoots off towards Andromeda and beyond. + +I’ve already noticed an increase in fud aroud the site questioning the efficacy and usefulness of DRS which tells me we’re on the right track with DRS and getting closer. I only expect these fud attacks to increase in volume and visibility as we get closer, and we can take it as a counter-indicator that we are indeed closing in. +Just wanted to say it’s really sad to see people asking questions here about things like how do I get out of Zip debt and then getting people posting unhelpful snarky comments. We’ve all been there, we should be trying to help others out from the lessons we’ve learned. + +I know a lot of people are very helpful, but for others, think about “if you can’t say anything nice, don’t say anything at all”. Probably help in other areas of your life too. + +So thanks to everyone that makes the effort. + +Mods feel free to delete if this doesn’t meet guidelines. +Dear SEC, + +&#x200B; + +\- I stood next to a digital rock and clicked it, for two years. Every day, every night. I set my goals and did not sway. I was 13 years old. The day I got my level 99, I learned a valuable lesson. + +&#x200B; + +\- I grew up in the PC era. The era where we are groomed to become addicted to a game, and to play it 14 hours a day until we get that next big thing. + +&#x200B; + +\- We are a generation trained to HODL. We don't even know why we're doing it most of the time. Just for the next thing to achieve, another step up. + +&#x200B; + +\- I've HODL'd on many games. Runescape, Starcraft, Age of Empires, Guildwars, WoW, Dota, the list goes on. + +&#x200B; + +\- Last year, I found a new game. It was called GameStop. I am fully trained for this. We are all fully trained for this. We will HODL. + +&#x200B; + +\- We are a generation who only knows how to HODL. + +&#x200B; + +\- It's your move now 💎🙌💎🙌 +I guess I’m theory and practice- like in theory economic profits would be eaten in the long run for the former, but that’s not something we can directly observe right? +We've always heard of the successful ones and how they made it big. + +I was curious if there are examples of investors who genuinely tried value investing and gave up, failed, incurred huge losses, panicked and sold, switched to some other style of investing because some other strategy worked better. + +This is purely from a learning perspective. I personally find value investing to be the most natural logical strategy of investing. But it's always good to see the bigger picture :) +It occurred to me a few minutes ago, reading and scanning Reddit and the news sites, there is a fairly distinct pattern and at times like this it's very noticeable. The people who are wailing on TV, writing scathing articles about what move gamblers and "degenerate retail traders" are making, and this sort of attitude in general constitute a group of people who don't know an investment from a gamble. + +Some are billionaires on TV and some might be line cooks, janitors and bus drivers ranting on twitter or reddit. This is what they all share in common. + +When you understand why you own a business or an asset, or you understand the proposition of a wager, this isn't a fear. I don't care what someone else is doing. I pay attention, because maybe I can identify an opportunity - but I don't *care*. My fate isn't tied to someone else making the right move in order for my investment strategy to survive or prosper. + +So if you're wondering whether that billionaire on CNBC got their billions because they got lucky or because they employ an intelligent, robust long-term strategy, you don't need anything more than their reaction in situations like these. + +I haven't heard the Howard Marks, Warren Buffetts or Mark Cubans of the world throwing a pity party for themselves, because the well reasoned, long-term intelligent investors of all stripes don't make themselves vulnerable to defeat from someone else's speculative excess. Situations like this are only a threat to people who don't know the value of what they own. + +This is a quick heuristic I think I had a vague internal understanding of, but I've never considered it consciously. +It occurred to me a few minutes ago, reading and scanning Reddit and the news sites, there is a fairly distinct pattern and at times like this it's very noticeable. The people who are wailing on TV, writing scathing articles about what move gamblers and "degenerate retail traders" are making, and this sort of attitude in general constitute a group of people who don't know an investment from a gamble. + +Some are billionaires on TV and some might be line cooks, janitors and bus drivers ranting on twitter or reddit. This is what they all share in common. + +When you understand why you own a business or an asset, or you understand the proposition of a wager, this isn't a fear. I don't care what someone else is doing. I pay attention, because maybe I can identify an opportunity - but I don't *care*. My fate isn't tied to someone else making the right move in order for my investment strategy to survive or prosper. + +So if you're wondering whether that billionaire on CNBC got their billions because they got lucky or because they employ an intelligent, robust long-term strategy, you don't need anything more than their reaction in situations like these. + +I haven't heard the Howard Marks, Warren Buffetts or Mark Cubans of the world throwing a pity party for themselves, because the well reasoned, long-term intelligent investors of all stripes don't make themselves vulnerable to defeat from someone else's speculative excess. Situations like this are only a threat to people who don't know the value of what they own. + +This is a quick heuristic I think I had a vague internal understanding of, but I've never considered it consciously. +Hey all, I wrote [an article](https://rileyflanigan.substack.com/p/australian-housing-culture-is-incompatible) about the impact of Australian housing culture in how interacts with the property market and responds to the realities of rapid urbanisation. + +I'd love some feedback from some of the people in this group I've seen comment on this type of stuff in the past. + +Teaser: +*As a country, Australians have enjoyed decade upon decade of luxurious complacency when it comes to growing our wealth. Rather than explore more-diversified ways of funding retirement, we take on surreal amounts of debt with full confidence that someone in the future will borrow considerably more than we did. On top of paying a mortgage, we pour every spare cent we have into renovating our homes. Like spending a year in London or wearing open-toed footwear; it's just what we do - it doesn't really go deeper than that. We are a nation of renovators. Scott Cam is our Warren Buffet. However, in the context of rapid urbanisation, pouring all of our money into housing creates destructive downstream effects at the macro scale that make our cities worse today and unliveable tomorrow.* +https://www.thehindu.com/news/national/cabinet-approves-model-tenancy-act-for-circulation-to-states-uts/article34708533.ece + +The Union Cabinet on Wednesday approved the Model Tenancy Act to be sent to the States and Union Territories to enact legislation or amend laws on rental properties. The meeting was chaired by Prime Minister Narendra Modi. + +“It will help overhaul the legal framework with respect to rental housing across the country, which would help spur its overall growth…It will enable creation of adequate rental housing stock for all the income groups thereby addressing the issue of homelessness,” a government statement said. + + +https://swarajyamag.com/news-brief/model-tenancy-act-approved-to-unlock-vacant-houses-for-rental-purposes +In the world of personal finance, I often encounter people talking about that daily trip to Starbuck's, to buy that $5 cup of coffee as an example of an easy overindulgence to cut. And it's totally true--if you're spending $5 on a cup of coffee every single day, that's $35 a week, or like $150 a month. For a lot of us a $150 monthly bill would easily be in the top ten recurring expenses, if not higher. And sure, that's an easy thing to cut out if we're trying to slim down, right? + +All totally correct. However, I think we can sometimes get a little too overzealous in our drive to frugality. To me, the point of managing your expenses on a daily basis isn't simply to get them as low as possible, but to actually think about what's important to you and what's worth it. The point of managing your money is to figure out what you care about, and what you can afford, and to be able to allow yourself to do the things you want to do without stressing about whether you'll be crushed under a mountain of debt if you do. + +Personally, I love going to coffee shops. I love chit chatting with the barrista while they make my coffee. I love getting out of the house, I love reading the paper or surfing the web while I sip coffee that someone else has made for me in an environment that's carefully curated to be beautiful and welcoming. That's easily worth $5 a day to me. + +The overall point being: when it comes to your daily budget, I don't think there's ever a one-size-fits-all rule. It's more about what's important to you in life, and what tradeoffs you're willing to accept. + +Now, I'm gonna go head out to a coffee shop for a little bit. +If I build a machine like typewriter or a dishwasher, two of the biggest products in modern history, what is their intrinsic value? Once I'm past the prototype and growth stage and mass producing these damn things, how do I know how to price them, how much will people pay? + +The answer is people will pay according to the value they receive in the form of time and effort saved by using these machines rather than doing the activity by hand. If a typewriter saves you hundreds of dollars a year then people should expect to pay a few hundred dollars for one, absent any competition. **The intrinsic value of any machine is the time and money saved by using the machine over doing it by hand or with a weaker machine**. + +Cryptocurrencies like Ethereum run on *virtual machines*, and their intrinsic value is sort of like those animes where the good/bad guy gets so powerful that the other heroes can't even detect his level anymore. To understand just how valuable cryptocurrencies are, you have to think about the purpose and function of a fiat economy, and examine how many professions and industries exist and are necessary to enable a fiat economy to work smoothly and integrate with the wider world. + +Essentially, our fiat economy is a huge machine designed to facilitate the exchange of goods and keep track of who owes what to whom. And this machine is operated by millions of people at the expense of trillions of dollars. And this is all to just make the rest of the economy work a lot faster. Because without fiat technology, your society would have to spend tons of time and labor lugging around junk to barter, there'd be a lot more risk and less trade and less growth. + +**And to make a fiat economy work you need universities, professors, governance, regulators, investigators, enforcers, courts, lawyers, banks, bankers, accountants - just a ton of high-priced professionals and institutions and technology, many of them soaked in corruption despite all the mechanisms intended to keep people honest, all for a system designed to keep people honest that nevertheless fails spectacularly every few years.** + +But the worst part is that if you want to try nation-building a place like Afghanistan or develop a colony on Mars, you have to build up all these fiat institutions and train tons of professionals before you can integrate whatever these people grow/build into the global/interstellar economy at large. We've already lost trillions of dollars just recently trying to build up institutions like the American Universities in Iraq and Afghanistan to train the future professionals needed to run the country, but these efforts were thwarted by insurgents and terrorists. + +But cryptocurrencies automatically and incorruptibly do all the functions of these fiat institutions and professions and even more. And all you need to run a basic crypto economy is smart phones and internet, and this is how nations and colonies will be developed in the future. When Mars is settled, the colonists won't need to include bankers and crap, just workers and scientists and general security (just like all those sci-fi movies that naively assume the economic details are sorted out before colonization begins). The next time a superpower tries to rebuild a failed state, there won't be concerns of them imposing cultural hegemony via the construction of institutions, and economic prosperity will come online much faster. + +The intrinsic value of cryptocurrency is *currently* **trillions** of dollars, and it remains undervalued simply because its value still isn't understood by evaluators, and this is largely in part due to the fact that this technology makes obsolete practically the entire class these evaluators belong to. Different cryptos will appeal to different people based on their feature sets, but in general the more money is invested into this industry and the quicker it evolves scale solutions the more money and time is saved in the long run by getting these systems online and the old economic administration out the door. +https://www.cnbc.com/2021/03/17/bitcoin-morgan-stanley-is-the-first-big-us-bank-to-offer-wealthy-clients-access-to-bitcoin-funds.html + + + +Morgan Stanley is the first big U.S. bank to offer its wealth management clients access to bitcoin funds, CNBC has learned exclusively. + +The investment bank, a giant in wealth management with $4 trillion in client assets, told its financial advisors Wednesday in an internal memo that it is launching access to three funds that enable ownership of bitcoin, according to people with direct knowledge of the matter. + +The move, a significant step for the acceptance of bitcoin as an asset class, was made by Morgan Stanley after clients demanded exposure to the cryptocurrency, said the people, who declined to be identified sharing details about the bank’s internal communications. Bitcoin’s rally in the past year has put Wall Street firms under pressure to consider getting involved in the nascent asset class. + +But, at least for now, the bank is only allowing its wealthier clients access to the volatile asset: The bank considers it suitable for people with “an aggressive risk tolerance” who have at least $2 million in assets held by the firm. + +Two of the funds on offer are from Galaxy Digital, a crypto firm founded by Mike Novogratz, while the third is a joint effort from asset manager FS Investments and bitcoin company NYDIG. +Hello, I (18/M) am in the last year of high-school. + +I have decided to continue my studies in another country, but my parents are not able to support me financially for more than a few months at best. I don't want to give up on my dreams and such, I am asking you for guidance. + +I have less than one year to get a decent source of income and I am willing to do mostly anything besides killing and selling drugs (I know, big loss, but I prefer it this way). I am not asking for a magic formula to getting money overnight. I am well aware of the fact that it takes a lot of time to get a good income, but I am willing to work and learn hours on end as long as it guarantees my survival once I leave. + +My question is, what skill/skills should I learn? What are the things I should build along my journey? ( I was thinking of making a blog). What would you do if you were in my situation? + +P.S.: I am willing to invest money, knowing it cuts the effort in half, but I don't want to get into stock trading yet. +I’m not so much asking for a get rich plan, I was wondering how did those people you see with the big yachts, huge houses and fancy cars do to become rich? +I need to save money but I have very little idea on how to do it. I am just very bad at it. I put a lot of money towards my bills, my car insurance is too high and I can’t change companies. I have a small side hustle that doesn’t bring in much. I have tried putting money into a separate bank account every paycheck but it ends up getting used. + +My budgeting attempts clearly show me there is money somewhere in our take home pay… I just don’t know how to make this saving thing work. What do I do? +Hello, everyone. I'm writing this post because of the story that happened to me today when I was in the bank. I went to the bank to see if I could apply for a mortgage. I had my dog with me, and when I entered the building, no one even hinted that we weren't welcome. + +&#x200B; + +While I was there, this old lady came in, and after a few minutes of waiting, she approached me and asked me when I was planning to leave. I pointed out that there were a lot of bank staff members who could help her, and she said, ""I don't talk money around dogs. They never bring luck."" That was the first thing. The funniest thing was that after she said that, every customer in the bank started giving me weird glances and stopped discussing their issues. + +&#x200B; + +On my way home, I tried to think of any money-related superstitions I had ever heard of. All I can remember is that you shouldn't give anyone an empty wallet as a gift. Honestly, I remembered it only because my niece asked for a leather wallet for her birthday a few years ago, and then she made a scene because it was empty. But I thought it was a good reason to give her another 50 bucks apart from the gift. + +&#x200B; + +I asked my husband whether there were superstitions he'd heard of, and he told me that if you're picking a penny from the ground, you should make sure that the penny is heads-up before you grab it; otherwise, it's bad luck. Also, he mentioned something about bird droppings bringing wealth. + +&#x200B; + +It made me laugh, and I told my husband he should stop wasting our time studying investment options on [Investor Junkie](https://investorjunkie.com/) and stocks charts and maybe get closer to the bird nesting places. He said every time a bird marked him, it was a sign of losing money on dry cleaning, not gain. + +&#x200B; + +Still, I'm quite curious about this matter. What other strange beliefs about money have you heard of? Are there any that you follow? + I need help when it comes to looking for a job. Or just using other strategies other than indeed or other job listing websites. + +Currently Unemployed since Janouruay of 2021. All I have is fast food experiences. + +I worked at popeyes for 6 months and that’s my resume. + +All honesty I hated working in fast food. It had a negative impact on my mental health and my physical health because of the working environment and fast food. + +I am 18 years old and I have been looking for anything else besides fast food since January. + +Places I have applied online. + +Local Grocery Stores + +Local stores + +Target + +Walmart + +I have even gone in person to places near where I live and asked them if they are hiring and they said to check the online hiring site. + +I apparently can’t get a job in anything else because I don’t have any other experience. + +Limitations: I don't have a car. + +If anybody can help me escape the fast-food hole or give me some advice I am willing to try it. +>Tesla CEO Elon Musk is telling his employees they need to cut costs or they can kiss its lofty stock price goodbye. + +>Tesla (TSLA) shares have been among the best performers in 2020, rising nearly 600% through Tuesday trading, making it among the most valuable stocks in the country, worth more than any major automaker. After years of losses Tesla has now reported five straight quarters of positive net income. +>But in an email to employees Musk acknowledged that Tesla's actual profit margin is fairly low, only about 1%, and that the stock price is due to investor expectations of future profits rather than recent results. +>"If, at any point, they conclude that's not going to happen, our stock will immediately get crushed like a soufflé under a sledgehammer!" he wrote in the email, which was first reported by Electrek. Tesla did not respond to a request for comment about the email. + +https://www.cnn.com/2020/12/02/business/elon-musk-tesla-stock-price/index.html +So, potentially recession can cause prices to drop, if one waits 3-6 months, to get potentially better deals. + +Or, take advantage of low interest rates now, possible corona thing goes away sooner than later and market kinda goes back to normal + +(Down payment and emer funds are solid) +Good morning everyone. It seems like there is a lot of FOMO going on for just about every WSB stock (GME, BB, CCIV, etc) and I wanted to share how I deal with it. Currently, I have a main account with TDA and a $2000 account with etrade. Whenever I get FOMO I log into etrade and put my whole account in whatever everyone is hyping up. As you can guess, it was down 54% last year. Now it’s close to break even thanks to GME, but I’m sure that won’t last long. This allows me to cheer with WSB without risking significant losses in my main account. Let me know how you deal with FOMO! + +EDIT: Stopped out of GME at $92, this account will stay dormant until the itch comes back. +What are your experiences with auction.com, good or bad? What pitfalls should I specifically watch out for? What steps do you take to do your due diligence? +Michael Burry is the latest investor to reveal a bet against the ETF, according to Scion Asset Management's second-quarter 13F filing. Burry initiated the new position by buying $31 million worth of puts in the ARKK ETF. + +Burry's not the only one, as the Disruptive Innovation ETF has a 30-day put-to-call ratio of 1.8, meaning more people are buying bearish put options on the fund than bullish call options. + +Other investors are outright shorting shares of the ETF, with short interest currently sitting at a record high 11.63%, according to data from Koyfin. With 21.58 million shares sold short as of Friday, the bet against ARK Invest's Disruptive Innovation ETF now totals $2.6 billion. + +Burry's bet against ARK is likely tied to his conviction that Tesla is a short, given that Scion Asset Management's largest position is a $731 million put position in the electric vehicle manufacturer, representing a whopping 35% of his fund's more than $2 billion in assets under management. Burry increased his bet against Tesla by 34% in the second-quarter. + +Tesla remains Ark Invests largest position by a significant margin, with it making up nearly 11% of the ARKK ETF as of Friday. + +The ARKK ETF is down 7% year-to-date, but up 38% over the past year. The ETF was down about 3% on Monday. + +Who's side are you on? +It's been a bloody week for Crypto, but the first hints of a recovery seem to be here. BTC pumped massively today, taking the entire market with it, including $ULTRA. Whales are taking notice of it, there's just been a $44k buy as optimism is starting to pick up again. + +&#x200B; + +There's huge marketing planned for this coin, those who are following it closely know of all the things that are coming so it's not a surprise that we're seeing large buys. There are multiple influencers on the horizon as well as mainstream media publications, more billboards spread across the US, incoming centralized exchange listings, version 3 of the website (out this week), a dApp, and more! + +&#x200B; + +People are accumulating Ultra and they are right to do so. With all of the things coming, and the market rebounding, it's clear as sky that this will pump - a lot. The community is amazing and hyped up, the devs are awesome and present in the chat daily and the token is rugproof, having been audited twice (CertiK claimed it's safer than safemoon) with a 3rd audit coming on the way soon. + +&#x200B; + +Find out more about the token: + +&#x200B; + +[https://ultrasafe.finance/](https://ultrasafe.finance/) + +[https://t.me/UltraSafeOfficial](https://t.me/UltraSafeOfficial) +Dear traders, + +&#x200B; + +The mood has been down for a while in here. + +The public opinion on blockchain in general is "it's over". + +Ether lost more than 90% of its value. + +&#x200B; + +At the same time, crazy developments happen. + +Constantinople is hitting main net in days. + +Plasma just hit test net. + +We have an Ethereum based stablecoin that f\*\*\*ing works. + +You can take decentralized loans. + +More developers work on Ethereum than on any other blockchain. + +Every day there is more certainty scalability will be achieved while maintaining decentralization. + +Google incentivizes its developers to build on Ethereum. + +A Visa card using DAI is now available, and soon we'll be able to do without VISA. + +Ethereum 2.0 specs are on the table. + +&#x200B; + +Ethereum is happening. + +The awakening is near. +Greetings financial hive mind, + +Just wanted to take time before work today to gather a few thoughts and share an epiphany I had this morning. I recently joined Reddit a little over a month ago and fatFIRE was the first group I joined. This place has been a wealth of information and it has truly been fascinating to read about the lives and successes of other people (the "Confessions of a Hectomillionaire" series was particularly fascinating to me). I mean it when I say that I have a lot of respect for the intelligence and achievements of many people on here. + +The problem for me personally is that I have found envy and discontent growing within myself as I began more and more to compare my place in life to others' on here (this is in no way meant to disparage this group, this is a problem within myself). I grew up in a rural farm town community of <1500 people and used to think that a professionally successful person was someone who made over $100K/year. Given my limited exposure of the world, my path ultimately led me to pursue medicine as a career (tech, banking, consulting, start-ups, entrepreneurship, investing, etc were nowhere on my radar and didn't even occur to me as possible options). Now at several years out of training, I have shot way past the goals I had as a teenager in high school both in terms of income and NW. And yet I feel further away from my goals now than when I began this journey. If I'm being honest with myself, my passion to help sick people has diminished while my personal ambition has grown. + +The reason for this is that the more I "get ahead" professionally, the more successful people I meet. And the more successful people I meet, the more my own financial goal posts get pushed further out. I've been vaguely aware that this has been happening to me for a while but for some reason the force of this realization hit me square in the chest this morning. + +I read a statement today that made me stop in my tracks: "Happiness equals reality minus expectations." In other words, understanding that my life could be a lot worse, being grateful for what I have, realizing that I am incredibly privileged, is the key to finding peace within myself. I realize I still have a lot to work on within myself to undo negative habits and mindsets, but this tiny realization today has briefly given me something fatFIRE never can: enough. And for me, I can't think of a better achievement in life than that. + +So (with all due respect to the moderators), I think I will try to start spending more time on the leanFIRE and regular personal finance subreddits to help balance my perspective of the world :) Thanks for listening to my rambling and I wish you all health, love, peace, and happiness. + +Warm regards, + +Pilgrim +An interesting turn of events: + +https://www.freightwaves.com/news/breaking-news-trevor-milton-out-of-nikola + +He still holds 20% of the company shares. Put holders might make bank tomorrow. + +The official Nikola sub going to be in shambles and banning even more people. +**EDIT: May 20** \- [So good, Tim Fries at the Tokenist shamelessly lifted this DD](https://tokenist.com/recent-occ-regulatory-moves-indicate-gme-amc-short-sellers-may-go-bust/) 🤣 + +&#x200B; + +I emphasize "***might***". See below and judge for yourself. + +**TL;DR:** + +1. On Monday, May 17th, [OCC posted an **increase** to their Clearing Fund of **$588,378,155**](https://infomemo.theocc.com/infomemos?number=48718). This information was found by u/aSphericalCow. In case it isn't clear, OCC is saying that all members must contribute proportionally to add $588m to the common Clearing Fund by Wednesday, May 19 (**tomorrow**). +2. Some [Options Clearing Corp (OCC) members](https://www.theocc.com/Company-Information/Member-Directory) (Citadel, Virtu, *and* **Robinhood** ^(If you are not out yet, you better get out ASAP) are members...) are likely at risk of default based on recent stress testing that resulted in the sudden increase to the Clearing Fund +3. When they fail, OCC seizes the failing members' holdings as collateral to get a loan to keep everything from collapsing +4. Then OCC needs to sell those holdings at auction to pay that loan back +5. To get the best return at auction and minimize their own exposure (paying out of their own funds), OCC needs more bidders +6. To get more bidders, they relaxed the qualification requirements for existing members and non-members in SR-OCC-2021-004 filed on March 31, 2021 and [entered into the Federal Register on April 6](https://www.federalregister.gov/documents/2021/04/06/2021-06989/self-regulatory-organizations-the-options-clearing-corporation-notice-of-filing-of-proposed-rule) (thanks u/StatisticianActive48) with a 45 day review period that ends on **Friday, May 21**. +7. This rule change is set to go into effect **this week** and sets a path for a more controlled wind-down of a defaulting member and decreases volatility in the wake of a collapse and therefore, SR-OCC-2021-004 could be seen as a prerequisite by many parties such as the OCC and SEC and even Berkshire and BlackRock. + +\---- + +[*This was originally posted last week*](https://www.reddit.com/r/GME/comments/napco9/srocc2021004_finalizes_this_week_is_this_the/) *as I believed we were on the verge of moving out of stasis. I want to thank* ***all*** *of the folks that reached out regarding my ban and the mods for reversing the ban. I mostly lurk so I took the ban in stride. I also want to thank and credit all of the folks who reached out with corrections and additional information that made this DD better!* + +\---- + +[SR-OCC-2021-004](https://www.sec.gov/rules/sro/occ/2021/34-91445.pdf) ("OCC-004") was filed on **March 31, 2021** and entered into the Federal Register on **April 6, 2021:** + +[Filing date for SR-OCC-2021-004 in the Federal Register](https://preview.redd.it/msfmn9jcmvz61.png?width=982&format=png&auto=webp&s=bf334ee67fd8f4501ad2085a072bfbbd1b667147) + +With a date of effectiveness **45 calendar days** after the entry into the Federal Register. + +That would put the date at **May 21, 2021** as pointed out by u/StatisticianActive48. + +One of two things will happen this week: + +1. It will go into effectiveness sometime between now and Friday, May 21. +2. It will be postponed with an objection as we have seen with both SR-OCC-2021-003 and SR-NSCC-2021-002 in which case it will be pushed out to the June/August time frame (thanks u/rockitman12). + +If it does not get delayed, I expect a full collapse of the shorts in the near future. (Remember: it may take days for the margin calls to go into full force). Some of the activity we've seen this week is definitely pointing to a change in the stasis we've been in since March 16th. + +* [The additional FUD with respect to Glacier Capital](https://www.reddit.com/r/Superstonk/comments/nf2q78/glacier_capital_exists_and_its_much_spicer_than/) (courtesy u/MrMadium and u/timmmmmmmyy) +* [The options data aligning on Friday, May 21](https://www.reddit.com/r/Superstonk/comments/nexfv4/its_just_a_pyramid_scheme_part_1_the_missing/) (courtesy u/hell-mitc) +* [The FTD loop that may end T+35 on Monday, May 24](https://www.reddit.com/r/Superstonk/comments/nf22qz/theory_on_the_ftd_loop_missing_link_a_t35_surge/) (courtesy u/Criand) +* [The recent DD with regards to SR-BOX-2021-11](https://www.reddit.com/r/Superstonk/comments/nd8nqt/need_a_wrinkle_brain_immediately_robinhood_and/) (courtesy u/Inevitable-Elk-4162) + +I don't want to plaster dates, but this week seems to be a convergence of many interesting events. + +[On April 5, 2021, I wrote the following](https://www.reddit.com/r/Superstonk/comments/mkvgew/why_are_we_trading_sideways_why_is_the_borrow/): + +[My conclusion on April 5 after pondering why we had been in a \\"sideways\\" trading pattern for two weeks at that time.](https://preview.redd.it/6q6dc6wgmvz61.png?width=696&format=png&auto=webp&s=2b650e8e98e5b6f276e786c8eb09be73f329fd34) + +For those that have not followed my posts in the past, the OCC is the **Options Clearing Corporation** which functions similarly to the DTCC except its for options. My thought is that **OCC-004 is a critical piece of the puzzle** to prepare for the first major margin calls that will initiate the squeeze as it opens up the asset auction qualifications and procedures once an OCC member defaults as a result. + +As a reminder, here are the membership lists for DTCC and OCC: + +* DTC: [https://www.dtcc.com/-/media/Files/Downloads/client-center/DTC/alpha.pdf](https://www.dtcc.com/-/media/Files/Downloads/client-center/DTC/alpha.pdf) +* OCC: [https://www.theocc.com/Company-Information/Member-Directory](https://www.theocc.com/Company-Information/Member-Directory) + +Just a cross section: + +|*Member*|*DTC*|*OCC*| +|:-|:-|:-| +|Apex Clearing|✔|✔| +|Barclays|✔|✔| +|Bank of America|✔|✔| +|Charles Schwab|✔|✔| +|Citadel Clearing|✔|✔| +|Citadel Securities|✔|✔| +|Credit Suisse Securities|✔|✔| +|Deutsche Bank|✔|✔| +|Goldman Sachs|✔|✔| +|Interactive Brokers|✔|✔| +|JP Morgan|✔|✔| +|Merrill Lynch|✔|✔| +|Robinhood Securities|✔|✔| +|TD Ameritrade|✔|✔| +|UBS Securities|✔|✔| +|Vanguard|✔|✔| + +The reason why OCC-004 this is important is **market stability.** Having major market participants fail without a plan would create excess market turmoil (it is already going to be a shitshow). My sense has been that all vested parties have been working on how to structure this squeeze and contain the fallout. u/k2fa91's post yesterday [on a document entered into the Federal Register on April 13](https://www.reddit.com/r/Superstonk/comments/ne39fe/need_more_eyes_on_this_154_page_federal_register/) further hammers this home: + +>***The Commission is adopting § 190.00(c)(3)(ii) to address the division of customer property and member property in proceedings in which the debtor is a clearing organization***. In such a proceeding, customer property consists of member property, which is distributed to pay member claims based on members’ house accounts, an customer property other than member property, which is reserved for payment of claims for the benefit of members’ public customers. + +In other words, what to do with customer accounts when a clearing organization -- **like Citadel or Robinhood** \-- goes into bankruptcy. + +I believe that this is one of the reasons why we have been trading sideways with virtually no volume since March 16th: + +[The two distinct bands we've been trading in since March 16th. The 3.5m share offering is plainly visible in hindsight.](https://preview.redd.it/sab93cu0nvz61.png?width=1634&format=png&auto=webp&s=16e2e1925cdd7785c35d4a60a5c370abfdb12988) + +It is also likely one of the reasons why many big players like [Berkshire](https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-sells-stocks-reduces-buybacks-q1-earnings-2021-5-1030373389) and BlackRock are moving into cash heavy positions. + +When an OCC member -- ***like Citadel*** \-- fails, the member's assets are used as collateral to obtain **immediate liquidity** to keep the markets and OCC functioning. These assets are then auctioned off to recover the funds used to inject that liquidity. The thinking is that the more bidders at auction, the more likely it is that the assets will be sold closer to market value and prevent a market-wide collapse of asset prices (this is kind of already happening these past two weeks...). + +[Key lines on page 7](https://preview.redd.it/43a8pyp8nvz61.png?width=584&format=png&auto=webp&s=a44179d9026335c599e142dae37b8ac10186f038) + +It also minimizes OCC members' exposure to that default if they can recover more cash through the auction process. **Remember, OCC members include: Bank of America, Charles Schwab, Citadel, Credit Suisse, Deutsche Bank, Goldman Sachs, Interactive Brokers, JP Morgan, Robinhood, TD Ameritrade, UBS, Vanguard, and many others** who don't want to pay for the mistakes of a few of their members. + +Additionally, the changes in OCC-004 result in ***non-OCC members*** having an easier path to bidding at auction (remember: firms like Fidelity, Berkshire, and BlackRock are **NOT** OCC members) as part of this process to qualify more bidders. + +[Pages 4 and 5](https://preview.redd.it/yse9eoodnvz61.png?width=604&format=png&auto=webp&s=7f324f98c83d2862a0a6bc2de155b0a1fc242c35) + +My conjecture is that all of DTCC, OCC, and SEC ^(those "postponed" closed-door meetings?) have been buying time to prepare for the fallout of the squeeze so what we see with the price manipulation around GME is not solely due to the action of the shorts, but all of the key market players as a whole to contain this fallout from potentially multiple members of DTCC and OCC failing. [The next closed door meeting? It's scheduled for this Thursday, May 20](https://www.sec.gov/news/closedmeetings/2021/ssamtg052021.htm). + +[The next closed door meeting at the SEC is this Thursday, May 20](https://preview.redd.it/v1crl6k4nvz61.png?width=998&format=png&auto=webp&s=c4ce557a1fd4d1262f525fea1bce626403a191d0) + +Furthermore, user u/aSphericalCow sent me [something really interesting this morning](https://infomemo.theocc.com/infomemos?number=48718): + +[\\"The temporary increase would result in an increase OF $588,378,155 TO the Clearing Fund\\"](https://preview.redd.it/08ghduu0ovz61.png?width=643&format=png&auto=webp&s=8211ee85254d22fde62d9bdc27be32e0d6dbdf84) + +[An ominous note at the end of that document that the Clearing Fund will increase nearly $600m by tomorrow, 9 AM US Central Time.](https://preview.redd.it/cw9isiijrvz61.png?width=876&format=png&auto=webp&s=415caf9fc54e2ce010d00b5898f037541e46556a) + +u/aSphericalCow's finding is a big piece of this puzzle that I was missing last week because I think this shows a sense of urgency on behalf of OCC to get this additional $588m into their Clearing Fund. *If members do not post their share, OCC will take it by force*. The memo also gives us a hint at the outcome of the stress test and I think we can conclude that it wasn't pretty if they are seeking over half a billion dollars. + +That's a sudden increase of more than half a billion dollars *on top of* the existing Clearing Fund and mitigates the delay of SR-OCC-2021-003 which aimed to increase the size of the Clearing Fund contributions and was objected to and delayed by Susquehanna International Group. + +To watch for this regulatory activity, check here: + +* SEC What's New page which is updated daily usually after noon: [https://www.sec.gov/news/whatsnew/wn-today.shtml](https://www.sec.gov/news/whatsnew/wn-today.shtml) +* SEC OCC Rulemaking page: [https://www.sec.gov/rules/sro/occ.htm](https://www.sec.gov/rules/sro/occ.htm) + +Are we guaranteed to launch immediately after OCC-004? **No**. But I think that the likeliness of launch *feels* imminent with the multiple incidents we are observing this week, the market pullback, and the sudden rise in overall volatility. I think it will also depend on how far along they are with their pool of bidders. + +# FAQ + +**Q: Should I get out of Charles Schwab, TD Ameritrade, or E\*Trade?** + +While they are all members of OCC, unless they are exposed to GME/AMC shorts, they are likely going to be fine. The problem with Citadel and Virtu is that their sister trading firms are highly exposed in GME and AMC short positions. Robinhood as well. + +Citadel is additionally exposed through their market maker status and creating naked shorts as part of market making. + +This is also likely one of the reasons why the margin requirements for AMC and GME are now going through the roof on all trading platforms. + +**Q: Will we get paid?** + +The whole point of preparing that liquidity is in anticipation of having to continue to fulfill buy/sell transactions. Without that liquidity, the market seizes up. You will get paid; DTCC and OCC will use those loans to pay obligations and then dip into their own funds. + +I also submit the following quote from SEC chairman Gary Gensler [from one of his lectures at MIT](https://youtu.be/l0vD_FBWk0g?t=4580) (timestamped YouTube link): + +>As we're not sharing the economic well-being broadly in the economy. Middle income America, middle income Europe in particular is not sharing as much. I think that hurts us in two ways. One is that is if we have the downturn, there's not as much uh…all economies these days are led by consumption. There's not as much ability to respond with consumption. And two I think it also tears at our social fabric. + +**Q: How is $588m going to make a difference?** + +The $588m is going into the OCC member Clearing Fund and isn't meant to shore up the defaulting member; it's meant to add to the pool of funds to shore up *the non-defaulting members*. You also have to keep in mind that much like a lease agreement prevents a landlord from arbitrarily increasing your rent, OCC cannot arbitrarily raise capital requirements from its members; it can only do so within the constraints of existing agreements and formulas for calculating capital contributions. This is part of the reason why they are amending their member agreement with respect to capital requirements via SR-OCC-2021-003 "Minimum skin in the game". +Hi everyone, I just turned 18 and I have about $170k in Social Security death benefits from my late mother that I would like to put some place besides a HYSA. + +I'm starting university in October (UC system, staying home) and I estimate my first two years will be covered by scholarships. I'm currently seeking a part-time job to cover miscellaneous expenses, and I've already been approved for a secured Discover card so I can start building my credit. + +More specifically, I'd just like some recommendations on what to do with all that money. I'd definitely keep some in cash but I feel that some of it is better used elsewhere. I know a Roth IRA would be a good place to start, but I'm lost after that. + +EDIT: A lot of people are offering condolences, which is much appreciated, but my mom died in 2011. I've done lots of grieving over the years and I'm doing well now. + +Social Security supplies a death benefit for all children with a deceased parent so that the living parent can provide care. My dad makes enough that it was never needed (but large purchases like clothes and school supplies would come from that account.) I also think some of that came from a life insurance policy, but I'm not too familiar with the breakdown there. +Chipotle said it will increase restaurant wages resulting in a $15 average hourly wage by the end of June, as it looks to bring on 20,000 workers. + +Starting pay for hourly crew members will range from $11 to $18 an hour. There are opportunities to advance to general manager positions with average annual pay of $100,000. + +Chipotle CEO Brian Niccol said the current labor market is among the most challenging he's seen in his career in the restaurant industry. He cited a range of reasons including child care and a rethinking of work post-pandemic. + +As the labor market heats up, Chipotle Mexican Grill announced Monday it's raising pay for restaurant workers, reaching an average of $15 an hour by the end of June. + +The company has also introduced employee referral bonuses of $200 for crew members and $750 for apprentices or general managers, as it looks to recruit 20,000 new workers across the country to support its peak season and new restaurant openings. + +The pay hike for new and existing restaurant workers, both hourly and salaried, will roll out over the next few weeks, with hourly crew wages starting in the range of $11 to $18 per hour. There are also opportunities to advance to a restaurateur position, which is the highest-ranking general manager, with average compensation of $100,000 a year, Chipotle said, in as little as 3½ years. + +Chipotle is getting creative in its hiring initiatives. It is hosting a virtual career fair on Thursday on Discord, the social platform, that will include sessions with current employees. Other Chipotle benefits include mental health care and 401(k) plans and debt-free degrees for workers after 120 days from nonprofit, accredited universities in partnership with Guild Education. + +[Source](https://www.cnbc.com/2021/05/10/chipotle-to-hike-wages-debut-referral-bonuses-amid-tight-labor-market.html) +This is a large shift for UK telecoms, Erickson, Samsung, Nokia, and Qualcomm. These companies will have until 2027 to remove and replace all 5g transmission equipment. + +Likely it could trigger more trade tensions between China and the west going into the election. + +This will benefit revenue growth for the above companies for a long time. +[https://www.marketwatch.com/story/netflix-mgm-race-to-produce-projects-about-gamestop-saga-11612281493?mod=home-page](https://www.marketwatch.com/story/netflix-mgm-race-to-produce-projects-about-gamestop-saga-11612281493?mod=home-page) + +&#x200B; + +How will this story end? With a bunch of apes selling with paper hands? Or with a bunch of autists doubling down and going full retard. WSB has given happy endings for years to pay for FD's. Do we really want to throw away all those back alley blow jobs? Do we want this show to end with a fizzle, or with a ARE YOU NOT ENTERTAINED? + +Mark Cuban's speaking fee is $75,000. He just came here and unloaded his wisdom for free. For the benefit of our cause. + +u/deepfuckingvalue is holding 30m in shares + +Millions of retarded monkeys are holding the line + +Jerk off, collect yourself, lets show Melvin what the fuck we are made of. + +This is not financial advice, I have double down syndrome +Hi everyone! + +I’m 18, and wanted to post about my current dividend income portfolio and get your feedback. I want to be able to retire by 45 and be able to live off of my dividends, as well as any other source of income I create for myself. For the past few weeks I’ve been making a diversified portfolio made up of REITs, ETFs, individual stocks, and BDCs; I made 2 separate pies to divide these, with one containing lower yield but higher capital appreciation and dividend gain, such as KO, WM, VISA, and the other with the higher yield, such as JEPI, NUSI, O. I have a 65/35 split, with the higher yield side being 65 and the lower yield being 35. The current yield on this portfolio is 4.59% and I plan to dollar cost average at least 500 a month, and I’m convincing my girlfriend to do the same thing so we can both have dividend income portfolios. + +Is this a good investment strategy, and if not, what can I do to improve my strategy? + +Thank you all! + +Edit: After taking everyone’s comments into consideration I’ve decided to lean a lot more towards higher growth rather than aggressive dividend yields. I’m gonna post my M1 portfolio for if anyone wants to take a look at it and I’d be really happy if I could get some feedback on it! Thank you all for your help, you’ve all been really amazing and this makes me really happy that I was able to find such a positive community based on investing. https://m1.finance/UQWhph8JIyho +Me and my mother went to Best Buy to pick out this 85in Samsung for my Dad for Christmas. The girl at the register told us that her system wasn’t working but the store was actively accepting PayPal/Venmo payments for products. She then held out a iPhone and told us to pay using the PayPal QR code. The payment went through on my moms phone when she input her information, but when we tried to add geek squad support, she said they weren’t taking applications in store, only over the phone. So we left and now we are at home but now that I’m sitting here thinking about this I’m beginning to feel like we paid her personally because GeekSquad is saying they can’t find our product in the system. What should I do? Take the TV back? + +UPDATE: *sighs* I called the store and the manager and he told me that their system was never down and told me to bring the TV back to the store and that the police will be there waiting to file a police report. Apparently he just had a female associate quit on the spot and he believes it was her who ran the scam. They won’t know until corporate sends them back the CCTV footage. He said they will rectify the situation in any way possible to get back my business. 😞 +* Intro: the SEC posted a ridiculous video on its official YouTube channel clearly intended to deter retail investors from investing in "meme stocks." This video has justifiably led to outrage because our tax dollars were used by the government to spread undue FUD. +* The counterpoint: *GameStop is not a "meme stock" so we should not be upset about the ridiculous SEC video*. While I wholeheartedly agree that labeling GameStop a "meme stock" is intended to make us look like idiot investors buying into an unworthy company, the reality is that people associate GameStop with that label whether we like it or not. But more importantly, **in the very first paragraph of the SEC's report on the January 2021 sneeze, it referred to GameStop (and only GameStop specifically) as a "meme stock."** + +&#x200B; + +[https:\/\/www.sec.gov\/files\/staff-report-equity-options-market-struction-conditions-early-2021.pdf](https://preview.redd.it/qwkyfidn1a391.png?width=1324&format=png&auto=webp&s=15d969aa18f049a9439ac9b4d38daa3fefaa97b4) + +* Of course the SEC will likely claim that they were not referring to a specific stock in the video and they were just encouraging research. But given that they had already defined "meme stocks" as specifically including GameStop, that is a loser of an argument. +* So the million dollar question: can the SEC discourage investing into GameStop? Fuck no. This is simply unethical. Federal employees must follow ethical regulations. To make it easy (because it does get complex at times), the government has boiled these regulations down to "14 General Principles." Among them is the following: + +[https:\/\/oge.gov\/web\/oge.nsf\/0\/B97C62717328457B852585B6005A180D\/$FILE\/14&#37;20General&#37;20Priniciples.pdf](https://preview.redd.it/ggeb9trr1a391.png?width=553&format=png&auto=webp&s=96a38e18b42b131ea3574d20209fee86ca56aaf2) + +* As the SEC is quite aware, there is a battle over GME stock. On one side of the battle, we have SHF's who want to see the price fall. On the other side, we have investors who see the long term value in GME and want to see the price rise. By unjustifiably shitting on one side of this battle, the SEC effectively lost impartiality and gave preferential treatment to short hedge funds. THAT IS UNETHICAL. To make matters worse, they clearly spent some money to produce this video. My law firm will be sending a FOIA to obtain the information relating to the cost of the video *inter alia*. +* So what can we do? We complain to the IG. Having worked as an attorney in the federal government (not the SEC) at one time, I can tell you that IG investigations are not welcomed by the individuals or departments subject of the investigation. + +[https:\/\/www.sec.gov\/oig](https://preview.redd.it/fa27to8z1a391.jpg?width=304&format=pjpg&auto=webp&s=a1c25f79aefa728e6eba15f214de6a7de9484f68) + +* The creative asshole at the SEC and every approving official behind this video needs to know that this bullshit is unacceptable. Fortunately, the process takes mere minutes. Squeaky wheel gets the grease, so let's get to squeaking. +* You can make your complaint online [here](https://www.securecloud365.tech/SEC) or if you are not into typing, you can even call and make it by calling **(833) SEC-OIG1 (732-6441).** + +See you all on the moon. +The most famous short sale of US$10 billion worth of pounds sterling was made in 1992 by George Soros. That deal brought him a profit of $1 billion during the 1992 GBP currency crisis and a nickname “The Man Who Broke the Bank of England”. + +But here's my question. I do not quite grasp where does the money come from ultimately? Did this one billion have to come from other peoples wallet? Or am I looking at it in the wrong way? +Words I've read on here many times. I found three ways that didn't work. I started three accounts between January and the end on March. Thought I would go the Aggressive Growth stock mutual fund route. 19% per year seemed doable. Then I heard of ARK ETF's, and the performance of last year, and put everything into those. Then the bleeding started. Then I thought I would buy calls, make profit, and put the profit into blue chips. Problem was, no profit, more bleeding. Then I stumbled upon Thetagang. It has become my tourniquet. Within 6 weeks, I am on the road to recovery, and almost ALL CSP's. Still down a little, but should be totally healed within 45 days. I have opened and closed, AHT, CVM, ATOS, MVIS, OCGN, and UXIN. My one bad move so far was PLX. Got assigned, then sold that piece of crap. I could not have done it without the help I have received from you guys. Thanks +So I recently started an experiment which I intend to keep pursuing for at least a few more months. + +My strategy is called the Triple Income Strategy and is an options strategy based around wheeling dividend paying stocks. + +Here are the steps: + +1) Identify a dividend-paying company with favorable metrics that you wouldn’t mind owning shares of (ex: blue chips like JNJ, MRK, BMY, KO, PEP, O, etc.) + +2) Sell a cash-secured put at a 0.3 delta 30-45 DTE (date to expiration) ON A RED DAY and for a strike which you believe to be below fair value + +3) If the strike expires OTM, use the premium collected to buy shares of either the same dividend stock you sold the option on or another dividend-paying security + +4) If assigned, sell weekly CC at or above the strike price if a reasonable premium is possible until you are assigned. SELL THESE ON A GREEN DAY. + + +5) Use the covered call premium to buy more dividend shares + +Hence, you get income from CSP, CC, and normal dividends on top. + +I recently used this to sell 5 $22 puts on MPW for a net of $500 premium. I got assigned at a market price of $20.93. Current loss = 0.07*500. + +I am comfortable with owning MPW at these levels. + +Now looking to sell $22-23 covered calls on a bounce. + +My put premium in the above scenario alone secure me nearly 3 quarterly dividend payments on their own. + +Will keep updated with trades. +So my mom and dad want to spend $20k on a house flipping training program: https://www.thelist.com/33978/untold-truth-flipping-vegas/. My parents are retirement age, currently unemployed, renting ($2k/mo, cheap in SoCal) and has $X0k in savings. She has a real estate license and has sold a few houses over the years, so I think she feels somewhat more knowledgeable than the average joe. + +My googling reveals that although the seminars and classes themselves are real (though questionable in practical value), it appears to be a way to sucker people into borrowing programs to fund home purchases. + +I’ve tried to convince my mom that this is a shady sounding business and worried they’ll blast thru all of their savings. My siblings and I are willing to help support their monthly expenses, find them a home to save money or invest in a property together. It seems to be a matter of pride that she wants to feel productive, successful and not reliant on us. I understand her desire but ironically, odds are that she’ll fail and make things worse + +Any suggestions on how to convince her to save her money and channel her efforts elsewhere? Thanks!!! + +Update 2/10: Wow, overwhelmed by all of the responses! Thank you for all of your support, suggestions and info. Will be reading through all of it today. +Folks be careful with DLC, lots of people in this sub myself included have received DMs from bot accounts pumping and promoting DLC. I am very sus that this is being operated by a pump/dump group there seems to be money behind it. There are literally hundreds of these accounts, i tried interacting with some of them and they have very similar responses (e.g when confronted why DLC their response "I just like lose money, its fun HAHA") + +They are also trying really hard to meme DLC by creating posts with dildo memes and every non-dlc post you'll see a random reply about DLC from sus accounts. This appears to be coordinated rather than legit members + +They are trying to make the whole "HAHA Dildo company now doing mining HAHA" meme a thing + +Don't fall for it and do not participate, i'm all for having fun and making money but don't be part of a pump/dump group who will profit big from your losses. Keep your eyes open and you will observe and understand exactly what I mean +My situation: Low 30s, \~$400-500k/yr FAANG income, $70k/yr expenses, $3M NW (all in market), pacific northwest. The market has been bonkers so I'm trying to keep in mind my numbers will eventually be at a \~20% discount. + +[NW vs Income graph](https://imgur.com/a/Qgv1px2) \- My FIRE# was $2M, then $2.5M, then $3M... one-more-day syndrome! Hopefully I'm close enough for this post to be relevant to the fatfire community at this point. + +**Questions:** For those aiming for $3-15M NW, how do you reconcile the cost in working years to go from $3M to $5/10/15M? I think in my case with a relatively normal W2 salary it will take me several more years to a decade+ to reach $5-15M, and having seen some family and friends work into their 50's to achieve it and still not feel satisfied, I struggle to valuate it. + +I feel like staying on the current path will provide more buffer. I'm considering taking a year off, due to burnout and maybe thinking about what I want to achieve in the future. I'm going to wait for the US election & pandemic to settle before making any life changes. + +Staying my current course, going from $3M to 5 or 10M seems to have relatively low value to me for the years lost, versus trying something different or relaxing. Have any of you ever faced this situation, and changed from W2 to take time to learn about starting your own business (and succeeding)? In my case if I don't find a business concept interesting enough to pursue, I'll just live a normal FIRE retirement with the \~$3M. Since my background is tech in a specialized area, I may copy a friend and go into consulting if a business venture doesn't pan out, however there's so many parts of business I have little experience with, it feels like if I don't start trying to learn now I'll regret not trying. + +**Another question:** Some of the success stories I've met in real life tend to have learned financial principles from their parents. In my case I was the first in my family to learn about FIRE investing principles, and I've shared it back to my parents with varying succcess. + +Do any of you have parents who are (Fat)FIRE? What lessons have you learned from them that you think have helped or hurt your ambitions? Did they retire early? Are they still? Do you plan to retire early? + +**P.S.** \- I am going to celebrate this milestone by eating a pie. + + +*Edit 9 months later (June 2021) : Welp, I'm at $4.25M now. I finally went through and started a sabbatical and it's been fantastic, to be determined if I will return or quit.* +Hi everyone, + +I appreciate you taking time to read this. +I’m 22 years old and have saved up over 100k. +I’ve been investing since I was 12/13, so I’m familiar with the market itself but there’s still a lot I have to learn with dividends trading. + +Given a lot of folks here have had far more experience, I’d like to ask what would be the best dividend stocks/ ETFS that are good for the next 10, 20, 30+ years out? +Like most, my goal is to live off dividends in the future. +I’ve been contributing my 6k into Roth since I was 18, and will be doing dividend trading on this IRA account. + +Is the general consensus VTI, T, QYLD the best for now? I have been unloading my paycheck primarily into T , and shifting my growth stocks (ARKK, XOM, BA, etc.) towards more passive dividend investing. + +Just wanted to get some perspective. Thank you once again. +If you’re after a potential multi bagger, this one’s for you. Simon Francis (LAKErs may recognise he’s the guy whose research and recommendations helped LKE rerate from 3c to >$1) produced a note on Friday on Akora Resources - his heading is the title of this post. + +Akora share price is currently 17c ($12m market cap), Simon has a price target of $1.46 and a longer term target (at 2026) of $2.70-$6.44. + +This resource potentially has it all: it’s very very large, close to surface, very high grades, excellent metallurgy. 100% owned. And ex RIO management. + +Again for the LAKErs, it looks like Stu Crow has just come on the register as a top20 holder. + +And finally, it seems an interview will drop at 8:30am Monday for those that want to hear from the CEO directly, link below. + +[AKO Research Note - Orior Capital](https://uploads-ssl.webflow.com/5ccd17e20b9ef27ff6eca4b1/637ff92c788cfb21f53c53f7_Akora_2022_11_25.pdf) + +[CEO interview](https://youtu.be/iP4VklVSmbY) + +[Top20 (p16)](https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02587881-3A605456?access_token=83ff96335c2d45a094df02a206a39ff4) +Your markets are run by bots. Now your Weekend threads are too[.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +Read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) people. + +[Posts relating to the "Is /r/ASX\_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. You have been warned.](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share) + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related.](https://discord.gg/EKU2tVBp9u) +A year ago, I negotiated my surrender with soulless mega-corp and walked away with enough to put us past north of $6M liquid. Since we spend \~$200k per year, we're all set. While the math checks out, the feeling is quite different. Between the pandemic, QE, healthcare costs, future taxes, and 27 other unknowns, it doesn't feel like we can hang it up. Additionally, I'm not ready to stop working, and my wife doesn't want to stop without me. So we were plugging along with a total income \~$450k. + +The decision to keep working drove me to a job at a much smaller company. We were making enough cash to ensure we were coasting, my equity looked like it had some upside, and the hours weren't bad. The problem... it wasn't fun. The difference between soulless mega-corp and small company didn't justify the pay difference, and I wasn't thrilled with the leadership team I joined. So, I just quit. + +For the first time in my career, I'm without a next step and without a paycheck. I fully exercised my option to use my FU money to say FU. I don't know where I'll end up next, but it doesn't really matter. + +For those of you on the journey to fatFIRE, remember that the path isn't cast in stone. The closer you get, the more freedom you have to make choices you would never have thought to make earlier. +Partner (37M, NW $800k, income $375k) and I (34F, NW $1.4M, income $300k) are getting married. Yay!! + +We’ve been engaged since pre-COVID, and are in it for the long-haul. Similar upbringings, modest-to-chubby lifestyle, shared quasi-retirement goals. We discussed the logistical implications of breaking up before we moved in together. Naturally we’re getting a pre-nup and have co-drafted the general outline of those terms. We’ve done this for estate planning too. + +Our needs feel simple (to us) but we’re new to finding a lawyer and not sure how to effectively engage. Drive the process? Let them guide? Establish general guidelines? + +Would appreciate advice. And any referrals if you’re in the Bay. I treat legal contracts like dental work - quality matters. Thanks! +What do you think would occur if this happened, either through straight out ending it or gradually phasing it out? Would pros outweigh the coins, or vice versa? +Should you invest in cyclical companies right before an expected recession? + + +Many cyclical companies "appear" cheap right now. But is that due to a peak right before the crash? + +Thier earnings are at the highest they've ever been, price looks very attractive. But i feel it to be deceptive. Perhaps they look this way becuse their earning are peaking and people are selling due to recession fears. + +Cyclical industries such as Semiconductor, computer hardware, Advertising, and gaming + +What does everyone think? + +I strongly believe a recession will occur in 2023. I am not saying i will be able to time the market, i am nit even sure if a recession hits if stocks will behave by crashing or soaring. + +I am just practicing caution regarding investments in cyclical industries for the moment because if a stronger correction or crash occurs it may take atleast 6 years for my investments to break probabily longet. + +Why do i feel a recession is happening? + +1. The yeild curve inverted ( accurate prediction of a recession 100% rate, but imprecise on timing, longevity, and severity) + +2. Widespread increase in layoffs + +3. Ridiculouse level of debt and lack of savings for both consumers, businesses, and even nations like USA having higher debt than Real and Nominal GDP( due to long low interest rates and other factors) + +4. Speed at which interest rates are risig to fight high inflation ( interest rates change how stocks behave, warren buffet himself said in periods of higher interest rates stocks DO NOT perform particularly well, and in times of low interest rates stocks will perform extremly well) + +5. High inflation decreases consumer spending, wich in turn reduces Revenues for many corporations + +You dont have to agree with me, but i prefer to remain skeptical of current macroeconomic environment + + +Edit 1: include Cyclical industries +Edit 2: included why I believe a recession is happening soon +This is in Florida. My tenant paid July rent last week and then passed away yesterday. She is the sole earner of the household, which has a total of 3 people (her son and her mother). I have a month's rent security deposit in savings. The lease is/was signed through the end of December 2021. Not sure where to go from here. I suppose her family has some figuring out to do with her estate. What are my options? Is the lease null upon death? Should I work with the family to see about having her mother and son move out? Are there any laws in place to dictate the rules and timeline for this situation? I suppose I'll need to contact a lawyer, but posting here first to hear other's experiences. Thanks. +This is apparently a new thing, so it’s good to check in and see if they’re adding services. The Mütter museum in Philadelphia is cool but tickets cost $20 per person. Meanwhile I can “check out” a free pass for two people at 3 different libraries near me! +Sometimes I find living in US is so draining so I wonder if we should consider FatFire in Europe. I think I like being a little foreign in places than being a local and know everybody’s aunt. We should have enough net worth to live in most countries and I was wondering if there is any US citizen looking into this? + +The most important thing for us is high quality education for our kids. They will be elementary school. And second most important is travel, and quality of living. +I have averaged approximately 18%. I own mainly Fundsmith, Lindsell Train Global, L&G Technology. + +How well did you do? +What did you own? +What is your strategy? Long term buy & hold? Flipping? +I am sick and tired of living paycheck to paycheck. I'm in my twenties, working in fast food. College doesn't fit my budget. I've skimmed online for "money making" videos, and most lead to nothing, and/or are clickbait. Does anyone recommend any sort of YouTube channel(s) or book(s) that'll give serious financial advice? Any help would be appreciated! + +I want to live in a nice house, in a nice location, and not have to worry about money all the time. It takes a toll on my mental health. + +(mods, this isn't a get rich quick question. Please let me know if I'm breaking any rules.) +If everybody gets the same amount of money doesn’t that make the money basically valueless because everybody has the same amount? I’m just trying to understand it +I'm already in my mid 30s. This stuff is pretty interesting to me. I was interested in it when I was younger, but I always had my doubts that it could work. + +Do you know any late blooming day traders? As in they got involved later in life? + +How old can you be as a day trader and still be successful? Does a slowing reaction time or something similar favor the young? +I’m a 44 year old single male UHNWI. Like most people, I’ve had several successful and unsuccessful romantic relationships with women, and none of them resulted in children. I’m at a crossroads, because I don’t want to miss out on the experience of raising children. And while I don’t have a biological clock, there’s also no immediate female partner as of now who would be both romantically compatible as well as ready, willing and able to have children with me. Certainly I can still develop this, but the timing of it is uncertain and unpredictable. I'm also more cautious now because it has been problematic for me in the past to enter into a marriage and later dissolve it if it doesn’t work out, given my financial status. I also want to avoid custody battles if things don't work out with the romantic partner. + +Lately I’ve looked into the obvious other choice: adoption. This is a good option but carries with it some complications, one of which is that adoption agencies don’t consider me to be the most ideal candidate (vs a married couple, for example). + +I’ve heard that some single men in my situation have opted for a surrogate along with an egg donor. There are agencies that handle both. This method seems to address all the issues that adoption has. + +My goal is not to be a single dad forever, so I’d probably be dating as a single dad initially, hopefully leading to a long term relationship or marriage (the woman might even have kids of her own). This is one complexity, but it seems addressable. Of course I’m also concerned that growing up with a single parent (and no mother) could negatively impact the psychology of the child. + +Has anyone tried this? Or am I just dreaming? Is this a realistic and reasonable idea? + +UPDATE: Already, some good points in the comment. For example, how would I provide real breast milk to the baby? Sure, you can buy donor breast milk, but it's not as good as the milk from the real mother. And it would be psychologically confusing for the baby to breast feed from a woman, but not bond with that woman. This alone seems like a setup for trust issues later in life. Maybe adoption is better, when the kid is already 5 or 6. But then, the child might have trauma from that early separation as well. (Although in that case, it's unavoidable since a kid who is up for adoption can't go back to not being adopted) + +UPDATE2: Thanks for all the helpful advice. One person said not to get twins. That is exactly what I had in mind, if I did this (or two kids rather, not necessarily twins). Because two children won't be twice the amount of work as one, and it makes sense to have more than one child if going through with this. + +UPDATE3: What about the impact of dating once I have young children through this method? I know plenty of single moms and dads date, but once people find out how I got these kids and why, I might look like a weirdo. +**\*\*\* We have an easy $20m MC moonshoot here \*\*\*** + +Launched only 5 hours ago and farming just went live 1 hour ago....That's right, a bloody DOG token with all the lovely cloned reflect features we know and love, but WITH YIELD FARMING!!!!! This is a complete first during the current MEME season which is happening + +So, bullet point overview of what this dev has created for us to play with: + +* Doxxed Dev +* Yield Farming +* Liquidity Generation +* 5% reflected among holders | 5% additional tax for selling to create a rising price floor +* 100% fair launched on BSC + +Here is everything you need to APE in and join: + +👩‍🌾 Farming [https://beeswap.bz/farms](https://beeswap.bz/farms) + +🐕Buy on PancakeSwap: [https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x7c63F96fEAFACD84e75a594C00faC3693386FBf0](https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x7c63F96fEAFACD84e75a594C00faC3693386FBf0) + +📱 Telegram: [https://t.me/asstokens](https://t.me/asstokens) + +🐶 Twitter: [https://twitter.com/assfinance](https://twitter.com/assfinance) + +🐩 Website: [assfinance.com](https://assfinance.com) + +🐕‍🦺Liquidity Locked: [https://team.finance/view-coin/0x7c63F96fEAFACD84e75a594C00faC3693386FBf0?name=Australian%20Shepherd%20Token&symbol](https://team.finance/view-coin/0x7c63F96fEAFACD84e75a594C00faC3693386FBf0?name=Australian%20Shepherd%20Token&symbol) + +📈 Chart: [https://poocoin.app/tokens/0x7c63f96feafacd84e75a594c00fac3693386fbf0](https://poocoin.app/tokens/0x7c63f96feafacd84e75a594c00fac3693386fbf0) + +&#x200B; + +Some other nice things to know before you APE: + +🐕 Slippage: At least 11% +🐕 Max TXN amount: 200,000,000,000,000 $ASS +🐕 Max TXN amount: Two Hundred Trillion +🦮 Smart contract provides LP every time it accumulates 30,000,000,000,000 (THIRTY TRILLION) $ASS, this creates a 🔥 RISING PRICE FLOOR🔥 + +Let's get on this Moonshoot ASAP!!!!!! +I am overwhelmed for your sympathy and advice, I will try to answer each of you. Thank you for taking time to help me, your suggestions are going to have a great impact in my life. This is the first night I feel optimistic about the future. + +Edit#2 First of all: Thank you! I am grateful for all the incredible support and good advice. I am currently working on communicating with different institutions for tangible help like for starters, Legal. I will need to wait for the death certificate to actually start going places, the top priority is to dwell into SSN as so many of you rightfully pointed me to. I am doing well, I am peaceful I am optimistic. Friends of Reditt, you are all magnificent. +I’m sorry if this is the wrong sub but I don’t know where else to post. Some background: + +Late 30’s, no degree, not particularly smart or confident in my abilities. Worked retail from 17-23 when I landed ass backwards into a well paying mining type role. A job I was never particularly good at but one which paid well and I managed to struggle through and keep for quite a few years. I always had a feeling it would end eventually and that finally happened a few years ago. Since that time I have moved to a new state and have found myself working anything I can get. I have sent probably 100 applications for all types of roles over the past 5 years but I’ve only ever managed to get entry level retail jobs or other menial work. + +I’m fed up. I’m sick of dealing with the public and feeling like a complete failure going into my 40’s. I’m broke and my partner is basically supporting me at this point which I’m deeply ashamed of. I also have a pretty bad panic disorder and avoid looking at jobs that require a long commute by car (driving is a trigger). I don’t know what to do. I figured I could work hard on retail and earn a decent living by moving up the ranks but it’s just soul crushing and I honestly can’t see myself doing it any more. The pay sucks, the expectations are high and I have to work weekends and nights meaning zero work life balance. + +I just don’t know what to do any more. I don’t think I have the smarts or discipline for uni and I’m not sure it guarantees anything anyway. Especially trying to get a grad job in my 40’s. I feel like I have more to offer than what I’m doing but I lack the confidence and mental health to figure that out and jump in. + +Does anyone have any advice for me? I tried to book a careers counsellor and they had a 6 month waiting list. I just feel lost, mentally broken and ashamed. + +**EDIT I’m truly overwhelmed by all the responses, suggestions and support. I have a lot to think about and some active steps to take. I truly appreciate you all. Thank you!** +Hi Financialindependence.. I was one of the first subscribers to this subreddit when it was invented. It is an honor to be doing this session! Feel free to throw in some early questions. + +---- + +Closing ceremonies: This has been really fun, and hopefully I got at least a few useful answers in there amongst all my chitchat. If you read the comments from everyone else, you will see that they have answered many of the things I missed pretty thoroughly, often with blog links. + + It's 3.5 hours past my bedtime so I need to hang up the keyboard. If you see any insanely pertinent questions that cannot be answered by googling or MMM-reading, send me a link on Twitter and I'll come back here. Thanks again! +Hello! + +I am 21 years old and really loving the idea of compounding and winning in the long run. I want to invest in ETFs and hold for life. Right now I have about 10k to invest and will add regularly to that. + +What are your opinions for this kind of portfolio + +40% QQQ + +20% VOO + +20% SPY + +20% VTI + +What to you think? what should I add or remove? Are the proportions good? + +Would really love to hear your advice and opinions! +One guy just quit paying rent. The other guy got used to getting further and further behind. + +Everyone is now evicted or moved out. Of course the place was trashed and needed new new carpet where the dogs peed. Took us 5 full days to fix everything and clean it back to a respectable level. + +As for the money, the courts have given their judgement. After court fees, late fees, unpaid rent, me paying the final tab for utilities, applying security deposits to the tally... I have $4,370 owed to me. This may not be a ton to some of you big cats, but the gross income on this property was only 16,000. That's a pretty heft loss to just eat. + +I'm mostly venting, but who else has big tabs they're waiting to get paid back? Any luck? Or is that money good as gone? +Straight forward, this sub praises and follows the advice of Warren Buffett and Charlie Munger. I’m assuming many of you do own Berkshire but if not, why not? +The title is half joking, half truth. + +Looking down the top 100, it may seem like you can just buy anything to 10x your investment, but this is a bull year, and that's survivorship bias in the coin rankings. (You're not seeing the 50 that fell out of the top 100.) + +Usually when you're feeling fomo around a growing project, you're already too late for x10 gains. If you're following hype pumps, you need to recognize when you're early and when you're late. That's not easy. + +The better strategy is to dollar-cost-average into sturdy, longterm projects. Even a coin that "only" does x2 every year or two can be one of the best investments of your entire life—if it lasts. + +Speaking of which, if I had DCA'd into IOTA all bear market instead of just buying during the pump, I'd be up almost x4 by now... +So I've never been above the poverty line until I'm about to start this new job. I've never made more than $11.50 in my life and I just accepted a job today that starts at $16.20. I'm afraid I'm gonna fall into bad spending habits but I'm glad you guys here have been there to help me through some hard times. + +Budgeting is gonna be hard +[Previous Post](https://www.reddit.com/r/IndiaInvestments/comments/jl0l1n/help_and_advise_needed_with_home_loan_india_bulls/) + +Broke an FD that my parents had and paid the loan in full. Though the loan is closed, I am still seething with how Indiabulls conducted themselves throughout this episode. + +Thanks to all those who took time out and wrote on the original post! +Recently I am getting deeper into economics, even though this is not my field. There are a lot of questions I have and I would like to have someone help me understand who has a background in economics. + +I would be very happy for very specific example, especially in the USA or the UK. I am from Germany, so if there are any German economicists, I would gladly ask some further questions to the example of Germany. +I work in finance and currently earn 73k, with an approximate 15-20% annual bonus each year. I’m not enjoying my role at the moment- it’s about an hour commute each way and significantly longer hours than I’ve previously worked (average 10-11 hours a day). I’m also thinking about having a baby in the next 2 years, and not sure how I could maintain this workload long term. + +I’ve been offered a role at a state owned corporation (ie, government but profit making) that pays 76k and is a 15 min walk from where I live. However no bonuses but they do offer 33 days annual leave, plus bank holidays. I’ve never worked for any kind of government organisation but I’m imagining the hours must be better than my current role. + +However the responsible finance person in me is thinking that I should hold out for the equivalent or more money. Do I take the role and accept the $7-10k approximate drop in annual income? +This question goes for the members that already made it. For those who probably got the big house, the fast car, and the fancy hotel rooms. We all heard at least once the cliche "money doesn't buy happiness". Can you agree? I always wanted to know first-hand, as someone who reached financial independence, what are your biggest struggles now (if any)? Are there any big issues you're dealing with now, that you didn't expect at all would come with reaching fatFIRE? I'm mostly curious about personal, emotional issues. I hope you don't mind sharing, thanks! +I feel like almost every topic on development he is the leading name, and his works seem disruptive. + +Are there some specific reasons? Is it probable that he is going to be laureate soon due to his contributions? +\*\*I tried posting this last week but it got mod blocked for some reason\*\* Trying again. Thought it would be a good time with all the option drama. Morale of the post is the NFT market place will reach far beyond gaming. The gaming marketcap is not what RC has his eyes on. He is looking to take away the middle man in nearly every industry allowing indie people to actually make money on their value. Imagine a talented musician able to crowd source money for creation of an album by offering 50% of the final product as an NFT. The people holding the NFTs do not mind because they know the NFT goes up if album is good and the artist then takes home 50% profit instead of a 10% profit they would have gotten from an agency.\*\* + +# It takes money to buy whiskey + +So, the below article goes into details regarding an NFT fund that is used to buy stakes in whiskey producing. The NFT’s are backed by actual whiskey. So as the whiskey ages the NFT’s gains value. + +Before we dig into the meat and potatoes of this let’s get the tits jacked. See below piece. Notice anything???? + +You NEED MONEY TO BUY THE WHISKEY NFT. I think he was leading us to this article to help us understand what the hell GameStop will be doing, and it is freaking amazing and genius and every other good word that is in the dictionary. + +[https://www.insidehook.com/article/booze/blockbar-nft-crypto-spirits-wine-marketplace](https://www.insidehook.com/article/booze/blockbar-nft-crypto-spirits-wine-marketplace) + +https://preview.redd.it/qyl9d4kic2081.png?width=903&format=png&auto=webp&s=6693fe3904c5f9efc95f373381ee363c46acaf25 + +# Why the hell would I want to invest in a whiskey NFT? + +Tokenized whiskey? WTF is going on here? Well you see the whiskey starts off at 750-900$ per barrel then it can double, triple, quadruple, ect.. as time go by. So a group buys into the NFT to make the barrel and as time goes on the whiskey appreciates in value and so does your NFT. You can sell your stake in the whiskey process midway and double your money. The next person can sit on it for a few months and make gains as well. + +So he is trying to tell you that you can do the same thing. To easily understand this, you can invest in an NFT game with a group of investors. Let’s say you and a group of other investors raise $100,000 for the project and you believe the game will be a huge success so you hold onto to your NFT while the game is being produced. Well at any time in production you can sell your stake in the game for a profit. The game will age just like whiskey. If it’s from a good producer, it will be a great investment. + +Well, what does GameStop bring to the table in this regard? They will be the marketplace for game developers to sell their NFTs so they can work independently with crowdsourced money. As the whiskey article explains, the NFT allows the asset to be more liquid which brings in more investors. You may not want to invest in an NFT project if it may be hard to sell out at anytime due to limited buyers but with GameStop’s NFT marketplace you will be able to trade your stakes in these NFTs at anytime through this interconnected hub with millions of other investors or collectors. The liquidity is what will drive in investors in droves knowing it’s easy to backout if you don’t think it is going anywhere and it will be easy for investors who think the project will be going to the stars to buy in from someone with a more bearish opinion then them. This will be a place where diamond hands thrive. + +https://preview.redd.it/2hhtv0rmc2081.png?width=882&format=png&auto=webp&s=a6766aa9267538e4f02d60c94a9c1c10fe3c2ffe + +# Flappy Bird (forgot this in orginal post) + +Remember the game Flappy Bird? That game was a huge success and made by one developer. It was making 50 grand a day with advertisements alone. So, imagine investing in some random developer to make a game. You and ten other investors invest a grand and receive an NFT as your token of ownership of the game. The game developer owns a portion of the NFTs and GameStop owns some portions of the NFTs. This game then becomes a huge success like flappy bird. You may have just turned your 1000$ into a million dollars. And the brilliant game developer that no one recognizes gets to walk away with bank due to crowd sourcing. He would have never gotten the chance if it wasn’t for you. + +https://preview.redd.it/b4siooipc2081.png?width=1013&format=png&auto=webp&s=1663c0e0a620dacdb68d51afd2aebab4ee647950 + +# Music + +Let’s take this to another layer. Say a musician wants to create an album but needs funding to do so. Instead of signing a crappy ass record label and getting screwed in the long run, they can sell a piece of their ownership of the final product to the marketplace crowd. The music creator says I need 50K to get this album out the door. I will give 50% ownership of this album to whoever pays me 50 grand. Multiple investors can chip away at this piece of the pie. GameStop will be the mediator that allows investor to meet creator and take a small gain to keep the market place growing. + +&#x200B; + +https://preview.redd.it/udhv0t7wc2081.png?width=828&format=png&auto=webp&s=b91757ed8a2660a332e8d54805430c36a7e2270e + +# Art, Film, Clothes Designing, New Ideas, ect… + +So you see where this is going? This is much bigger than games. If they secure a marketplace that is fluent and attracts a lot of people, brilliant minds will stop going to companies that f\*ck them for money but will negotiate with everyday people for fund sourcing for their dreams. They will not have to please their bosses but would rather please their fans and be able to be createlike never before. AKA power to the creators. And the beauty of an NFT is that they can remain completely anonymous while they do this. GAME ON ANON. + +# GameStop Merger + +GameStop has been posting bullish job postings with M&A requirements (merger and acquisitions), ERP transitions, carve outs, ect… Some People were speculating a spin off by I don’t agree. + +See below the two job postings I found real quick from searching. + +https://preview.redd.it/aaj83jqyc2081.png?width=812&format=png&auto=webp&s=fd90bca039ab5f2dcbcc755ad1b337779394a3ad + +https://preview.redd.it/880m2s30d2081.png?width=890&format=png&auto=webp&s=2132e388b8158694a5e77c344ec665f749c3d9ab + +One shows a system carve out which some pointed out to as being a split off aka GameStop NFT splitting off and becoming it’s own company but I don’t think this is the case. Remember guys Power to the players is GameStop. Their NFT website says Power to the creators, Power to the players and Power to the collectors. This absolutely leads me to believe that they are not splitting off. The below snip is from [https://www.gambit.de/en/carve-out-en/](https://www.gambit.de/en/carve-out-en/). It explains how a system carve out is also needed in a merger. + +https://preview.redd.it/441h1kh6d2081.png?width=887&format=png&auto=webp&s=57903faf8c3e0f9a2dc8ce0ca39deface282458a + +# What do both job postings listed above have in common? Merger and acquisition. + +I work for a business that recently did a merger and I can give our timeline to estimate a GME merger timeline. Employees were informed of the merger in March of 2020. The CEO of the company we merged with talked with us and talked about the merger process. He had been knowing about the merger since the summer before. So, there was ongoing negotiations for 3-9 months prior to the announcement. + +We know GME hired Matt Finestone in early Summer so if there was negotiations with Loopring, they would be well underway. I’m not saying Loopring is the absolute choice but I know it’s who I would pick. + +Gme merging with LoopRing would benefit both GameStop and Loopring. GameStop has the loyal supporters and large customer base. Loopring has the intellectual property which would prevent anyone from copying GameStop’s system. Both together would dominate the future. GameStop is ahead of where everything is going and Loopring has the key to lock up the market for years. + +Back to the merger. Following the announcement, the shareholders would have to vote on yay or nay on the merger. + +Once shareholders vote yes on the merger, the companies would then set a date on when the merger will be official. The value of both companies will be combined, and there will be a new price per share. It’s possible there could be share splits or reverse splits for GameStop owners. GameStop could also elect to change the name of the company if they would like. + +So once they announce the merger, there is a period of time before the merger actually happens. People will be flocking to GME stock left and right to be part of the future. Buy what you can now if you like the company. We may never see 200$ or even 300$ again after the announcement. + +# TLDR: POWER TO THE PLAYERS, POWER TO THE CREATORS, POWER TO THE COLLECTORS + +This is the most genius slogan I can think of. GME is about to literally change the way shit works. Say goodbye to the mainstream. They are putting the power into the people rather than the big shitty corporations. + +They will connect everyone, and this slogan says it all. Think about it. How do you cater to different players of games? Some people want a sports game but would also maybe like to have guns and sharks with laser beams in it. Well maybe they pitch the idea in GameStop’s marketplace. A creator comes in and says if the players can raise “x” amount of capital, they will create it for them. The collectors see this and think wow let me get a piece of that because that may be valuable one day. The creator makes it; the players and collectors pay for it and the game ages like fine whiskey. It takes money to buy whiskey!!!!! The below link is to an article explaining how investors can buy an NFT of whiskey and watch it appreciate over time. The whiskey is backed by actual aging whiskey like how GME NFT will be backed by actual projects such as games, music, art, new ideas ect…The article also explains how investors have to put up a lot of money for the project but can be rewarded up to five times they paid in a couple years. + +[https://www.insidehook.com/article/booze/whiskey-fund-tokenize](https://www.insidehook.com/article/booze/whiskey-fund-tokenize) + +This extends to art, music, movies, whiskey, etc… The NFT aspect attracts all investors since it is easy to buy and sell or aka have liquidity. GameStop works with LoopRing and gains exclusive access to their patents which makes Ethereum usable in a marketplace and also eliminates front running which attracts every day investors since they know they will not be fx'd over. Talented game developers work independently with maybe other creators and can make maximum profit rather than shitty CEO’s and executives taking the money. They are more motivated which equates to better games. + +**PS:** I believe Gamestop will merge with LoopRing. I think the contract is underway and that will be the first thing that will be announced. I’ve just been through a merger, and I can feel it in my balls that GME and LoopRing are currently negotiating. It takes a lot of planning for a merger but they usually announce it months before it actually happens. Negotiate for 3-6 months then announce the merger. The actual merger can take up to another 6 months to actually take place. People will be buying GME shares like crazy to be a part of the new company forming before it happens. + +With that I will say we do not need to worry about a catalyst to force shorts to cover because GME business transformation is the actual golden ticket. I’m not going to speak for you but I would respect GameStop much more for spending their money and time wisely creating the new frontier that will dominate the global market rather than an NFT that will not secure their future. Other companies are building metaverses such as Facebook. To you Ryan Cohen and GME personnel, do what you gotta do to beat the competition. + +GME at a 2 trillion market cap would make you 200 times the amount of money you are seeing in your portfolio. The MOASS will happen along the way but also know that GameStop doesn't need shorts to bring it to the moon because they are doing it behind the scenes without the fuckup that shorters created. RESPECT. +I am 33 years old, my wife is 30, and we have a two-year-old. I’m an investor with 48 properties and over seven figures in stocks. + +I’ve recently really started to appreciate my wealth. I live in Ohio, so there is a reasonably cheap cost of living. + +What top jobs did you hire out that made your life easier (maid, nanny, driver, etc.)? + + +As silly as it sounds, the stress of coming home and our house is chaotic, toys everywhere etc make we want to higher someone just to put everything back at night, is that like a cleaner, organizer, maid? + +I really appreciate any help you can provide. +I’m curious if anyone has any examples or case studies of solo tech founders raising a small round (sub $1.5M) and drive it to a mid 8 figures exit. My rationale here is while it’s life changing money for founders, we may face pressure from investors to go all the way if we raise too much. Also probably easier to achieve than a unicorn home run. + +Sorry if the question is overly specific. I’m trying to look for some inspirations. +I've seen a lot of people on social media and the news spreading the idea that this whole thing was somehow masterminded by /u/DeepFuckingValue within the past 3 weeks. It wasn't and this is some dangerous misinformation as it needlessly makes /u/DFV a target. DFV is simply an eagle-eyed investor who bought into his GME positions quite a while ago, even before anyone here cared about GameStop's fundamentals or the remote possibility of a squeeze. He isn't some mischievous troll who decided sometime in early January to rally all of us into a stock-buying frenzy in order to stick it to some villainous wall street firm, nor did he ever make any special effort to promote GME in order to incite a squeeze. A large number of users here had known of the outsized short interest for a while so this entire thing was the organic result of increasing GME discussion. + +/u/DeepFuckingValue is basically that guy that shows up to the party at 5 PM..... on the day before. + +&#x200B; + +EDIT: 💎🙌 GME 🚀🚀🚀🚀🚀🚀🚀 🌖 +I've thought about shorting with margin, but that would only give me a 200% return (roughly). Could in theory get a 15-20x return with deep OTM puts but wouldn't the large volume make that impossible? What's the most return I could get given that I would have to spread out the purchases over time and strikes? + +Edit: this is a hypothetical, I don't actually have 100M lol +1. My husband has officially transitioned from work from home to live in the office. +2. I can’t imagine people in Europe work until 10pm or 11pm as often as people in competitive fields do in the US. +3. we could barely take any vacations without answering emails or calls. +4. I don’t envy our situations at all. I would rather earn less, and spend my August in Greece. +5. If people look at US salaries, they should adjust it by hours difference. + +As a pregnant woman, I have a lot of discomfort and complaints. We haven’t traveled for a while and I have some WFH burnout. Thanks for listening. +From WSJ: + +Millions of people are behind on their credit-card and auto-loan payments, the latest sign of the coronavirus pandemic’s financial devastation. + +Lenders in April had nearly 15 million credit cards in “financial hardship” programs, such as deferral programs that let borrowers temporarily stop making payments, according to estimates by credit-reporting firm TransUnion. That accounts for about 3% of the credit-card accounts the company tracks, TransUnion said Wednesday. + +Nearly three million auto loans were in these hardship programs, accounting for about 3.5% of those tracked. + +The numbers have surged from a year ago, when 0.03% of credit cards and about 0.5% of auto loans were in financial-hardship programs. + +The spike in unemployment caused by the coronavirus has strained people’s ability to make their monthly debt payments. To make matters worse, Americans were tapping credit cards and auto loans at record levels even before the pandemic to deal with rising costs and stagnant incomes. + +As coronavirus cases surged in the U.S. and businesses shut down, millions of people told their lenders they wouldn’t be able to pay their bills. Some lenders have allowed borrowers to miss payments for as long as several months on credit cards, auto loans and personal loans. + +[https://www.wsj.com/articles/millions-of-americans-skip-credit-card-and-car-payments-11589985381?tesla=y&mod=article\_inline](https://www.wsj.com/articles/millions-of-americans-skip-credit-card-and-car-payments-11589985381?tesla=y&mod=article_inline) + +In past week: + +Amex up 14% + +Mastercard up 11% + +Visa up 9% + +They're up 3-3.5% today. I assume it's optimism that they will start raking in fees from retailers? Thoughts? Good buy or due for a dip? +It's official. Sony [now owns both Crunchyroll and Funimation](https://www.sonypictures.com/corp/press_releases/2021/0809/sonysfunimationglobalgroupcompletesacquisitionofcrunchyrollfromatt). The company's Sony Pictures division completed the $1.175 billion acquisition on Monday. And with the deal now closed, Sony Pictures CEO Tony Vinciquerra said the company's goal is to "create a unified anime subscription experience as soon as possible." + +Sony didn't say how soon we could see that happen and what form that "experience" will take. For the time being, Funimation and Crunchyroll will continue to exist as separate streaming platforms, with few details on what the deal means for subscribers. + +"With the addition of Crunchyroll, we have an unprecedented opportunity to serve anime fans like never before and deliver the anime experience across any platform they choose, from theatrical, events, home entertainment, games, streaming, linear TV — everywhere and every way fans want to experience their anime," Vinciquerra said. + +Sony first announced it was acquiring Crunchyroll from AT&T [at the end of 2020](https://www.engadget.com/crunchyroll-acquired-by-funimation-003449882.html). At the time, the service said it had 3 million subscribers and over 90 million registered users across more than 200 countries. Less than a year later, Crunchyroll notes those numbers have increased to 5 million and 120 million, respectively. +I myself was a dividend investor when I first started investing at the beginning of this year. Once I finally got a grasp on options in mid May, Ive never looked back at attempting to do dividend investing. I'm pretty sure there are others like me and I'd love to hear how you first reacted once you made the switch, or at least dont have DV as a main priority. +My son is 21 and has just started his first job in labouring. He was fully dependent on me and is now bringing home about $1100 per week. I want to charge him for rent, food & reimbursement of his phone to prepare him for life and bills when he eventually moves out so he learns to manage his money. I’m unsure how much to charge him but I don’t actually need the money. I want to return the money to him when he eventually moves out to help him be better set up financially. I expect him to stay here for another two years. What is my best option with the money? Can I invest on his behalf or under my own name then transfer ownership or am I better off just letting it sit in the bank? + +Edit: I just got off work and read through every comment. You have given me a lot to think about and I’ll do some research. I’m thinking $100 a week to start and he sets up his phone under his own account. I will talk to him about investing, saving and super because I dread to think how much house deposit he will need if he wants to buy a house in 5 years let alone service a mortgage with house prices in Sydney if that is a future goal. +Hay folks, Its me Binary Enthusiast. I have a pretty strong background in analytics, mathematics, and computer science. + +Now, traditional TA does not work for GameStop because it does not abide by the classic rules of the market. + +In order to analyze this stock I couldn't think like a businessman. It would be useless to take an analytical approach. To see the true data, and discover what was hidden, I had to think like a retard. + +Here is what I found: + +Here is the one year chart for gme. + +https://preview.redd.it/5nxcoxrh0jf81.png?width=449&format=png&auto=webp&s=064a64e102095bad5e6904f22107b959f189999d + +Notice anything? Before each big run up there is a little triangle blip. + +https://preview.redd.it/x7xlvohm0jf81.png?width=449&format=png&auto=webp&s=678cf0097c4356a704dbbf672886ee533a4683e9 + +We just started the mother of all tiny triangle blip formations. If you look at the chart with the tiny circles, the spacing just looks good. You can feel it. Here is another thing I noticed. + +https://preview.redd.it/il0878s31jf81.png?width=449&format=png&auto=webp&s=fde9e96f71c4fc726a2df212ca21ce17c6805a72 + +7 Peaks. Well the first one is slightly off screen, from the initial runup. But its there. 7 peaks... 4 tiny triangle blips... 1 MOASS. It's coming boys. And when it does were gonna need a towel. + +Using some statistical analysis and a custom program I wrote. I simulated 100,000 runups based on the data we have. This data is measured from triangle blip drops, to runs, percent change week to week from each significant event, so on so forth. This is my model. + +https://preview.redd.it/z2i1za0j1jf81.png?width=598&format=png&auto=webp&s=2bfa51075e1bc28c3ff1cf5705f3a2e9b234e187 + +I am 100% confident in this analysis. Tomorrow kicks off the biggest run of our lives. starting tomorrow every day is GREEN! + +Feb 3rd 3:59 pm Edit: After hours counts :P +Thanks again for having me do the AMA, I enjoyed it! I'd be happy to continue to answer some questions whenever I can. I've gotten a couple of requests for the slides, so I'll post them here with some commentary, along with some other slides I didn't have the chance to show. + +First, an illustration of how the NBBO is constructed: + +&#x200B; + +https://preview.redd.it/4ivakg899dx61.png?width=723&format=png&auto=webp&s=21881e9826d8b43cb20f9d50ba1c1b4c859a12aa + +I mentioned on the AMA that all trades must take place within the NBBO, regardless of whether they are on-exchange, on dark pools or within internalization systems. I should clarify that this is only true during RTH (Regular Trading Hours) - 9:30am - 4pm ET. Outside of those hours, there's no official NBBO and trades can happen at any price. If you see crazy prices during pre-market or AH trading sessions, that's why. **Please NEVER submit a market order outside of RTH - you should generally never use market orders anyway, you should always put a limit price on your order, even if it's a marketable limit order**. + +Here's the order type distribution slide I showed (from 2015): + +&#x200B; + +https://preview.redd.it/p5ai2n8q9dx61.png?width=741&format=png&auto=webp&s=d48742ebb390b3d1e5dd291e6b3d6b738687f454 + +I didn't get to show this exchange fee schedule slide, but it's CRAZY. Goes to show you how complex markets are when you combine exchange fee tiers with complex order types, geographic distribution of datacenters, and the conflicts-of-interest brokers face when routing orders: + +&#x200B; + +https://preview.redd.it/i2scsz7w9dx61.png?width=1213&format=png&auto=webp&s=ae52b06d14d9f79f4dfec412c0692c542c77fbae + +Here's the diagram I showed for market complexity: + +&#x200B; + +https://preview.redd.it/i5cr6j5z9dx61.png?width=754&format=png&auto=webp&s=1c04f06799d460e8f5f4113049439531f5b30db0 + +Here are the two slides showing off-exchange trading distribution for GME. These numbers come straight from the [FINRA OTC Transparency website](https://otctransparency.finra.org/otctransparency/AtsIssueData). + +https://preview.redd.it/2prrwr62adx61.png?width=1229&format=png&auto=webp&s=a5875ea501e14f8164eb5e2abd8b11b7083ab1c7 + +&#x200B; + +https://preview.redd.it/pk2pf0s6adx61.png?width=1219&format=png&auto=webp&s=07170a65cf24b500551dda6d3b1218bc02a9195b + +Here are a couple of HFT slides, the second one I didn't have time to show: + +&#x200B; + +https://preview.redd.it/l4kp7zbaadx61.png?width=1246&format=png&auto=webp&s=20a5ab052ea3105320f4e8c75ee28e64e9344a17 + +&#x200B; + +https://preview.redd.it/j055t5kcadx61.png?width=1091&format=png&auto=webp&s=aad07f84fe679c3576114513d5afa0d0c5f00bd5 + +I believe there are many beneficial high-speed trading systems (in green) and many that are predatory or rely on structural arbitrage (e.g., arbitrage that does not get "arb'ed" away with competition). + +I'm glad the AMA was interesting, and like I said I'll try to answer as many questions as I can. I think it's great that there's interest in getting educated on these issues, and hopefully the time is right for some structural change over the next couple of years. +Someone close to me was badly scammed a considerable amount of money ten years ago. A savings of over 40,000, which is a lot when you're lower middle class in CA. I don't think they ever got over it, especially since money is so hard to come by. I don't know if losing it is worse or the shame of being conned. I feel like it would help to know if there are others out there who carry this guilt. +I can’t find a job that makes more than $32k or an apartment that costs less than $800/month. How in the hell can anyone be financially stable in America today? +So I've been seeing lots of content on passive income, especially about Crypto.com staking and the new NRG 3.0 staking. + +My question is how much should I invest in a staking program or something to get to $15-$20 a day profit. + +I'm not that much into trading, so I am not really opened into actively doing this. + +What are your thoughts on this? +I’m 14 and wanna move out as soon as possible (nothing wrong here at home I just want freedom, like anyone my age probably). I’m currently in 7th grade (started a year late also) and plan to start looking/applying for jobs at 16. I’m not 100% sure what I want to get a degree in but I’m interested in business and game development (I’ve made a few hundred doing some 3D Modelling Jobs, though I kinda lost interest) + +My dad suggested to take AP classes, though I’m not sure which I should take. I’d say definitely English and history (which are classes I have the highest interest/grade in) + +Minimum wage here is $10.10 (they plan to increase it to $15 an hour by 2025, which is when I’ll be graduating high school) + +Besides being smart about my money and getting a job and saving as soon/much as I can, what else can I do to prepare for my future? +I want to move but worried I wont make enough money. I was reading you need $250,000. How realistic is this? +I do not want to live in LA.. an outside town thats safe. I havent even narrowed it down yet +I care more about my health and eating healthy/healthy lifestyle vs living in a nice place. I do care about safety and major crime. I also like Southern California weather. I dont like the cold period +I like to think I’m doing okay for myself but it’s hard to tell. My current expenses are about $1300 a month and I make $2300 a month. + +I’ve got almost 10k saved with 1.5k in a TFSA. I’m super stingy and pretty much save everything that’s not expenses other than the little bit of going out to eat, smoking weed and drinking. + +I’m only 20 and have yet to go to post secondary for my career where I’ll be able to earn far more than $2300 a month (I plan on being an Aircraft Mechanic) + +I wanna be successful and have the funds to live a happy and worry free life, but the anxiety doesn’t stop right now on if I’m on the right path or if there’s more I should be doing. + +Thanks reddit!! +Hey all, +I’m currently 17 and in high school. Once I graduate, I will go to trade school. Upon completion, I will have 140k. I plan on saving 40k for myself (help with rent, bills, gas, food, etc). I also plan on investing $100k for long term, hopefully 35-40 years until retirement. I also plan on getting a job immediately out of trade school which the average salary is around 70-75k. I feel I am way ahead of my kids my age, financially wise. But at the same time, i’ve only dealt with up to $15k, not 140k. That’s why I feel it would help to have an expert. This way I show them my living situation, my bills and other expenses, my salary, etc, and can help come up with a master budgeting plan so I don’t ruin the 40k immediately out of the gates. I also want help investing. I’ve been investing (using my fathers account) since 12 years old. I know what i’m doing. I know to invest in conservative funds like VTI or VT. But again, I have never dealt with so much money and want to be extra careful. Do you think it’s a good idea to get an experts help here? +I used multiple keyword notifications per day and have a lot of interaction on the site. Since it sold, I just feel like it's really watered down. User activity has seemed to decline every month. Anyone else feel the same? +* Sell Calls on Green days and Puts on Red Days for the best outcome +* Patience.. Better to wait a bit for a stock to recover a bit to sell a more favorable call with a higher premium. Look at the price history and what you think the fair value of a stock is. +* Typically, don't buy a stock to open a position. Especially with meme stocks. +* If you sell a call price with a strike that you're okay with stick with it. Don't close out the position if you're afraid of assignment. If it gets assigned so be it and move to the next one. +* If you're up a good amount on your call right after you open the position just close it. Chances are it'll go back down and you can re-enter the position once it corrects. +* Nothing is "free money". +* If premiums are so low then it's probably not worth entering a position. "Pennies in front of a moving train" or something like that. +* Do not sell calls on your blue chip stocks. Save this for stocks you want to get rid of. + +&#x200B; + +Just some of my advice. Best of luck to the new option traders. +So damn glad I just found this sub. Been following /r/financialindependence and r/personalfinance for a while and frankly, they are such downers. Damn near had me convinced to settle and minimize all risk and give up my dreams. + +I don’t have a super high income (65k/130k family) but I do own and run a successful small business and have a decent net worth (1.4 mil) in my mid 30s. I dream of so much more for me and my family. I read the first dozen or so threads here and I’m so glad to see there’s others who share my passions, dreams, and goals. + +Looking forward to learning from y’all and sharing successes and failures. Cheers! +I have several office buildings with multiple tenant types. These are multi suite office buildings. Several renters affected by covid 19 lockdown can not operate their business and have notified me that they won’t be able to pay for April. Some are month to month tenants, however some have longer term leases. The month to month tenants are all in the salon/massage industry and as such cannot work. They have offered to move out but I am not going to get any new tenants at this time even if they move out. My thinking is just to let them keep the space and see how things are next month. So far I have confirmed I will not receive close to $6000 on April 1 that I would have otherwise. + +I am going to be talking to my bank to see if there is any way to get a forbearance. Does anyone else have any suggestions on what else I can do at this time? Is there anything in the stimulus that can help? +Summary of changes: + +&#x200B; + +\- repeal the age cap for contributing to individual retirement accounts, currently 70½. + +\- increase the age to start taking required withdrawals from 401(k)s and IRAs to 72 from 70½. + +\- encourage 401(k)-style plans to offer annuities by giving certain employers some protection from future liability if their chosen insurer fails to pay claims. + +\- allow parents to withdraw up to $10,000 from 529 education-savings plans for repayments of some student loans . + +\- parents could take penalty-free distributions from retirement accounts of up to $5,000 within a year of the birth or adoption of a child to cover associated expenses. + +\- allow employers without an affiliation to band together to offer a 401(k)-type plan—an effort to encourage companies without retirement plans to offer them. + +\- repeal a 2017 change to the so-called Kiddie Tax that often boosts tax rates on “unearned” income received by children in low- and middle-income families and was causing surprise tax increases for many. + +\- To help pay for the changes, the House legislation would require many people who inherit tax-advantaged retirement accounts to withdraw the money within a decade and pay any taxes due. The Senate version, the Retirement Enhancement and Savings Act, or RESA, would require beneficiaries to liquidate balances above $400,000 at the date of death within five years. + +&#x200B; + +The bill passed 417-3 and the Senate is expected to vote on the House Bill, according to the article. + +From an article here: [https://www.wsj.com/articles/house-on-track-to-pass-bill-making-big-changes-to-u-s-retirement-system-11558625474?mod=hp\_lead\_pos3](https://www.wsj.com/articles/house-on-track-to-pass-bill-making-big-changes-to-u-s-retirement-system-11558625474?mod=hp_lead_pos3) + +&#x200B; + +&#x200B; + +What does FI think? +Looking at BBBY pop off and seeing the effect it has on GME. Makes me so proud of the DD writers of old. Who theorized the ways this would play out way back last century in 2021. To see what’s happening in the markets now. It’s on the backs of great DD that the wilder everything gets, the more zen I feel. Truly the ending has already been written. + +Now we just wait for the rest of the world to slowly peel back the layers and see the markets as the fraudulent entities they really are. Once GME goes off it doesn’t matter what propaganda anyone tries. There is really only going to be one thought in anyone’s minds: “Huh, I guess they were right.” + +Then comes the hard part. Peruvian Bull gave us the hyperinflation DD. The big picture stuff. Anyway, cheers to the DD writers including the OG DDer himself, Roaring Kitty. +Our new forecasts for the January Default Tariff Cap have risen by over £6501, meaning a typical household is now predicted to pay the equivalent of £4,266 a year for the three months to March 2023. Forecasts for the October cap have also seen a rise, going up by over £200, and with predictions for an average bill now sitting at £3,582. + +[https://www.cornwall-insight.com/price-cap-forecasts-for-january-rise-to-over-4200-as-wholesale-prices-surge-again-and-ofgem-revises-cap-methodology/](https://www.cornwall-insight.com/price-cap-forecasts-for-january-rise-to-over-4200-as-wholesale-prices-surge-again-and-ofgem-revises-cap-methodology/) +It's down 40% as of today but if you go on the website it says only 20% because they have some bizzare logic where YTD means as of Jan 31. I'm lucky enough to have gotten exited as it started to unravel in feb 2021 so I actually made a profit in ARKK. + +How much longer can this go on before Cathie has to shut down her fund? +So we all know the cost of living has gone up a ton. I'm in my 20s and I feel like all I've know is inflation. I did some googling, and found out that deflation isn't ideal and instead wages should rise to meet the cost of living. + +So that got me wondering - are wages just supposed to rise infinitely? For example (with made up numbers), let's say the average monthly food shop was £500 in 2000 and that was 20% of the average monthly pay. In 2020 the food shop is £1000 but wages haven't risen by much, so it's now 30%. Less money all round. + +So it seems to be better for said food shop to go back to being 20% of pay rather than going back to costing £500. But what would be the limit? The food shop being £5000 but still 20%? +What are your memorable *financial* moments on your journey and what lasting impact did this have on your outlook/approach to things? + +I’m trying to keep the moments relevant to your fatFIRE journey. These things often devolve into shoulda/coulda/woulda bought TSLA, QCOM, BTC, Powerball etc but that’s hardly a memorable moment. + +I have a few, but 2 stick out particularly. Here’s one. + +I came of age as the dotcom fever took off and many firms would grant anyone 2x-3x margin to daytrade anything. + +I was 22, I bought calls on Microstrategy (MSTR) ahead of earnings because some CNBC yahoo said to. We made impulse tech buys back then and it always paid off (a bubble characteristic). That day, it didn’t, in a big way. MSTR went into a tail spin, my positions got margin called and everything got wiped out (Hello, Bill Hwang). I ended with $2000 debt having lost around $10k for the day. + +The numbers are hardly fantastic to me today (hurt like a groin kick back then) and were hardly fatal (I owned 2 rental condos at this point) but the day remains memorable because: + +* It was the last time I bought an investment instrument that I didn’t understand. + +* It solidified my preference in the physical over the ephemeral (ie real-estate/brick-mortar) over (investment/speculation) (Hello, Mr. Buffett) + +* Taught me to compartmentalize investments and never let one position (or property) be so large that it could damage unrelated investments. + +Heckuva lesson to learn over an 8-hour period. (Oh, and fcuk AXP). +Just purchased my first property for $87,250 cash, already have a tenant lined up for $1.1k a month! This is all new to me but I am excited for this journey. Thinking of possibly doing a cash out refinance in a year or so to get my next deal! + +SFH 3 bed 1 bath, newly renovated located in mid west. + +Only investments I think I'll need to do before I rent it is trim a tree out back and a small roof repair where there seems to be some water coming in by the chimney. +And put $76 in it. All of my bills are paid. +I get paid again on the 10th and plan to put another $80 in. +I’m on fire and just wanted to share. + +Edit: I do have some credit card debt with a paydown plan taking me to the end of 2020, and a few small personal debts to friends and family, but I merely didn’t want to delay this step towards an emergency/rainy day fund. + +Second edit- wow a silver and a gold! My first ever! This seemingly small decision to open a savings account has such a powerful impact and I hope others will be inspired to make a small step to move towards their financial dreams too. +So I’ll get right to it. + +My partner (30F) has had difficulty finding a career that’s right for her. She has prior experience in hospitality, office admin, and is now currently struggling on an apprentice mechanic’s wage. Definitely understandable as she’s essentially being paid like a teenager. + +Are there any realistic job options I could recommend to her that would provide her a decent wage? At least $1000/week seems necessary for basic life now. + +She has interest in vintage cars as well as visual art and graphic design. + +Ideally it’d be a role with some form of career progression rather than just retail/hospo. + +So far I’ve thought of logistics for a warehouse/wholesaler or other junior office admin role. + +Any other ideas? +Hi folks, + +I don't post that often, primarily because not much changes in the day-to-day that alters my long-term thinking. + +In December, I had posted this, saying the we had likely reached the bottom, although we'd need to wait for confirmation. + +https://www.reddit.com/r/ethtrader/comments/a7mk1h/how_to_spot_market_highs_and_lows_and_why_now_may/ + +At that time, it did not appear to me that we'd likely ever see again $85 for ETH and $3,200 for BTC. It appears even less likely now. + +This seems to be the general consensus eg: +https://twitter.com/krugermacro/status/1111658219905138688 + +The bear market is officially over. It ended in December, precisely one year after it began. A convincing move above $4,200 for BTC should dissuade the remaining bears who think a Lower Low is yet possible. + +Most everyone here is waiting for the next move up. Some folks such as ScienceGuy believe it could come in April. My view remains unchanged. The consolidation period (and by that, I mean a range of 25%~80% from the low $3,200 for BTC) will last until July or August. + +Whatever you believe: now is probably the best possible time to buy into the present bull cycle. If you DCA, you'll be pleased with yourself in one year from now, even more so later. + +*** + +I have some other thoughts on asset allocation ie what percentage of your holdings should be held in crypto? Most people say 10% ... I think my tolerance for risk is changing. If we're at the beginnings of the next bull cycle for crypto, and if other options for investing in technology are richly valued (eg the coming Uber IPO, FAANG), and if you think a bear market for equities is coming, then it might make sense to reconsider this allocation. The risk-reward ratio is quite compelling. + +*** + +BEAM - Bitcoin, Ethereum, Auger, Maker. These are the blue chip cyrpto holdings for the next 20 years. +So you get up and work a 10 hour shift because you have to in order to make ends meet. You go home after work and you're tired from work, so you get to relax once you go home, right? + +Lmao no. + +You have to find something to eat for dinner and then do the dishes and probably other cleaning and laundry, etc. + +And then you get to relax? No. + +Then you have to meal prep your weeks lunches because eating out during your lunch break is too expensive, so after cooking dinner, you have to spend another hour cooking 7 servings of something or another. + +And now do you get to relax? No. + +Now you have to go and study for some class or another because, as everyone tells you, the only way to escape poverty is to "LeArN A SkiLl", and learning a skill requires learning, which requires studying, which is exhausting in its own right. + +And now do you have time to relax? Lmao fuck no. + +Because now it's approaching midnight and you need to shower and try to muster up 7 hours of sleep so you can do it all again tomorrow. + +Surely you get to rest on your days off, right? + +Fuck yourself for even considering it. + +No. + +You have to spend your off days doing some bullshit side gig like DoorDash because if you're not working 7 days a week, you might miss rent, and then everyone will call you a lazy good-for-nothing bum for not working 2 jobs (just spend a day on this subreddit and I promise you'll see multiple people unironically say that exact sentence: "if you're not working two jobs, ***you're*** the problem") + +And all of this is assuming you're single and don't have kids. Because if you aren't single and/or have kids, that's a million other commitments and responsibilities and exhausting activities you have on your plate. + +Leisure time is a luxury for those who have money. If you don't? You don't get to rest. +I'm not sure how well this is all going to come out, but I don't have many people to share this with and you never know who needs to hear that there is an end in sight. Also, on mobile so he gentle with any typos or grammar issues please. + +2020 was a miserable year for everyone, no mistaking it. Less than 2 weeks before COVID shut down my state, I found out my fiancée was unfaithful by catching her messaging 2 different people while at a wedding expo planning the details of our wedding. We separate immediately and I am left with the house, bills, and dog to support on my own. I had a decent job at the time, after years of being drastically underpaid I finally had something semi lucrative and finally pulled myself ahead (see my post history for that piece). In August, my company laid off a 3rd of its staff to COVID. My savings was dwindling as unemployment barely came close to bills and every month I slowly sank further into the red. A job certainly had to come along sooner or later. I was applying to 15-20 jobs a day and interviewing to 2-10 a week at times. Something had to give. + +In February I took a job at a company that was not honest with the travel, pay, or job duties. I worked there for 5 days before being strong armed into leaving. To this day, they never paid me. This forfeited my unemployment (yes I appealed but my state is an at will state and this immediately disqualified me, no ifs ands or buts). My savings already drained, I had a month to find something or start selling my stuff trying to salvage rent money. I'd already sold several electronics and various extras so it was about to get tougher. I had some major car issues that had to get resolved or lose the ability to interview. That put less than $250 dollars to my name with rent, car payments, utilities, and groceries ahead. Life got dark, it had been getting dark, but the last month I really contemplated ending everything. We're it not for my dog, I honestly would have. + +Que last week- I get a call for an interview and absolutely crushed it. Somehow I pulled myself together and just knocked it out of the park. When I got a call back for a 2nd interview, I balled. Yesterday I went in for the 2nd round and again, somehow got myself together and blew it out of the water. Before I left, the VP mentioned that I should anticipate an offer coming to me by the end of the day. It took everything in my power not to break down in the conference room. Got to the car and the cynic in me immediately began to resent him for getting my hopes up, convinced it was bullshit and I ultimately wouldn't get it- just like the 100+ other interviews I'd had over the last 6 months. + +An hour later I get the call, and I'll be damned- they really did offer me the position. I'll be making more than I did pre covid. With some extremely supportive people in my life, they are going to help me get through month's end to keep my home. + +The darkness is over. The doubt is over. The Ramen every fucking day is over. The weight of the world is no longer on my chest and my shoulders. Had I caved to any of those feelings over the last few months, and especially the last few weeks, I would not he here to write this. Life doesn't always give everyone a break, but you really can't find out if you don't keep giving it the opportunity to. + +Thank you for reading, I really just wanted to share this and hope it lands to someone who needs to hear it. + +TLDR; I was a month away from losing everything, and almost took it all away myself. Yesterday I was given a wonderful, lucrative, opportunity that I never would have received had I not kept pushing through all of the BS life offered. Just want people to know life happens to those who allow it. + + + + +Edit: Fixed a typo. Also, since this seems to he gaining more traction than anything I've ever posted. I cannot stress enough how the kind words have resonated with me. The overwhelming support, encouragement, and offer to assist I've received from total strangers is beyond heart warming. I'm trying to respond to as. Any as I can, but know I'm reading them all and saving this for a serious pick me up if I'm ever down again. Thank you to everyone. +The news this week has been neutral to bad. GDP growth was a sham. +Personally I think the market should be 5-10% lower than it actually is. And NASDAQ should’ve made a new yearly low. +I have no current trades in the market. I just want to understand what the heck is going on. +This question is taken from Tim Ferris book “tribe of mentors” + +His full question was “What purchase of $100 or less has most positively impacted your life in the last six months (or in recent memory)? My readers love specifics like brand and model, where you found it, etc.” + +Mine has to be [3M micropore tape (1.25cm width)](https://amzn.eu/d/jcl22UG) £3.65 for 6 rolls. +I have used it to tape my mouth shut at night when I sleep and it has revolutionised my sleep. I sleep deeper, don’t need to go for a pee in the night and wake up without a furry mouth. +I can also breath through my nose much better all day long. + +So what’s your purchase of £50 or less? +I live and am part of a family business in an MCOL (until recently LCOL) Midwestern city. As part of that business I see a lot of houses being put back on the market by failed OOS investors. + +Many of these people are very angry when they learn that they're going to get 20-50% of their investment back. + +Lately I've been trying to understand why so many people think it's a great idea in the first place, to buy turnkey houses sight unseen in a city they've never even visited. I think part of it, comes from a misunderstanding about "flyover country", and the people who live there. + +Suppose you live in a west coast city where the most modest bungalow costs $600k. You find out that...supposedly...you can buy a viable rental property in the Midwest for $60k, and rent it for $800/mo. Easy money. + +Dollar signs ring up in your eyes. And you can't help thinking, "These people have no idea what they've got. I am a lot more financially savvy than these flyover yahoos. I am a wolf among these lambs, and I'm going to make a fortune buying up this stuff from people who don't know how valuable it is." + +There's a problem with this way of thinking: those yahoos know very well how valuable it is, or is not. + +Even the tiniest town in America has at least one guy, call him Bill Cox, who is ambitious and shrewd and patient. Bill works at the post office, he knows everybody, and any time someone's grandma dies, they go to him and he works out a deal and gets that house, and puts a tenant in it. After 30 years he owns the gas station, the diner, a corndog stand out on the bypass, the lumber mill, a laundromat, dozens of rental houses, and who knows what else. + +And he still works at the post office. For the benefits, you know. + +If you are from out of state...hell, if you're from out of town...you are not going to get ahead of Bill Cox. If there's a deal to be had, he's going to get it. + +It is easy to think, if you live in a coastal city and have a high-powered job, that you have more mental processing power than Bill, and maybe you do. It won't help you. Bill knows the property business, knows everybody in town, knows every house in town, every handyman and contractor, every banker and broker. Everybody feeds Bill deals, and anything Bill won't buy, is not a deal. + +And in a Midwestern city of a million people? There will be hundreds of guys like this. Your chance of competing with them by phone from 2000 miles away, is somewhere near zero. + +Everyone loves success stories, and it gives me no pleasure to post a big failure story, and get downvoted for negativity. But maybe it will do some good. Just today one of my partners told me about an OOS guy who wants to sell a package of houses he paid about $400K for a few years ago, and with a little luck he's going to get $100-120k back. He's in shock, and refusing offers, because he doesn't understand that the money is already lost; it was lost the minute he signed that check. This case is pretty close to a worst-case scenario and probably involves more than a bad deal, it probably involves outright fraud on the front end. But again: from 2000 miles away, how do you even know you're not being defrauded? Not everyone in the Midwest is honest, either. + +tl:dr---Don't assume everyone in an LCOL market is a gullible dummy, and that it will be easy for you to get rich there. There are clever and ambitious people everywhere. And keep in mind the saying, "As you fly over flyover country, be sure to look down and wave at the Wright brothers house." +Paramount Global (PARA) is my largest non-index position by far, because I’ve concluded that it’s significantly undervalued and being disregarded by the market. Here are some numbers to support my quantitative analysis: + +FCF 2018: 1.26B +FCF 2019: 0.88B +FCF 2020: 1.97B +FCF 2021: 0.6B + +Assuming the following: + +required rate of return of 10% + +average FCF growth rate of 8% which is what we’ve seen recently, and + +an average price:FCF ratio of 27.68, which is what I’ve calculated based on market cap:FCF ratios over the past several years, + +a discounted cash flow analysis would yield a fair value of $33.77 billion, or $51.96 per share. + +As for the qualitative side of analysis, PARA, formed by a merger of Viacom and CBS, owns broadcasting rights for a variety of sporting events through CBS, many channels including Nickelodeon, Comedy Central, and BET, the streaming services Pluto TV and Paramount+, as well as Paramount Studios, which has the rights to many hits such as Star Trek, Top Gun, and Yellowstone (which streams on Paramount+ and currently has spin-offs in the works). + +The merger between the two sides of the business seems quite sensible, and the broadcasting/film production businesses provide more than enough cash flow to fund the high-growth streaming businesses. In total, Pluto and Paramount+ have 63.7 million subscribers, rivaling Disney+’s 87.6 million. Also notable is the rapid gain in market share: Paramount’s subscribers grew by 1.7 million in Q2, a 10.9% annualized increase. + +Morningstar agrees with my analysis - its fair value estimate is $58 per share with a narrow moat rating. + +Is there a qualitative issue here, some problems I’m not seeing on the balance sheet, or just a market distaste for the company/industry? What am I (along with Morningstar) missing that the market sees? + +At the time of writing, PARA trades for $25.21, implying a 51.5% discount to fair value if I’m correct. + +Disclaimer: I am a financial advisor, but not *your* financial advisor. The contents of this post are for general informational purposes only and do not reflect an analysis of your financial situation or the suitability of securities mentioned. + +EDIT: added qualitative description and improved formatting +What is the capital cycle? The tendency for markets to recognize areas where excess profits are being earned, and lots of investment $$$ to flow there, causing future profitability to fall. + +This idea is explored in *Capital Returns: Investing Through the Capital Cycle: A Money Manager’s Reports 2002-15* by Edward Chancellor. The book itself is a bit expensive but you can go on Amazon and do "Look Inside" to read the introduction, which covers the idea nicely. Here's a summary. + +The core concept, that investors chase after excess returns until there is over-investment and returns later fall, is the WHY behind value investing. If you pick out of favor sectors which have seen capital shrinkage, they have greater likelihood to outperform. Regression to the mean. + +The tendency arises from human biases: we project past results forward in a linear way, and throw more money at whatever is working now, but that over-investment also carries the seeds of its own downfall. + +As one example, the 20th century technology which changed American life more than maybe anything else is the automobile. At one time there were 3000+ auto makers, now we have less than a half-dozen domestically - and even they struggle to make money sometimes. Airlines are the same story -- exciting and transformative, but consistently terrible returns for investors. + +**Signs that excess capital is flowing into an area, and expected future returns will be low**: + +- Companies rapidly expanding production capacity + +- Lots of new equity offerings (IPOs, SPACs, secondary stock offerings) or new debt issuance + +- Merger and acquisition activity + +- Public excitement and volume of news reports + +- Recent technological breakthroughs. + +**Signs that capital is contracting within an industry, and profits in the future may be higher**: + +- Spin offs and stock buybacks (reducing the scope of companies in the sector) + +- Companies initiating dividends which previously did not pay them. + +- Prepayment of debt obligations. + +**Some implications of this idea**: + +- If you look at companies with excessively high ROIC, expect competitors to show up soon. What moat does a company have to fend them off, and how durable is it? + +- If you're doing a DCF analysis, be cautious about projecting high revenue growth rates more than a few years into the future. + +- Future *demand* is very hard to forecast accurately. Future *supply* is much more visible (it shows up on balance sheets) but is too often ignored. + +- Industries with very slow to non-existent capital growth (e.g. tobacco) may be among the best for long-term investors. + +If this concept is right, what industries does it predict will under-perform the next 5 years? My estimate: electric vehicles, renewable energy, semiconductors, house builders, payment processors, and medical research labs are likely to disappoint investors in the future. + +Which industries are poised for outperformance? As one example, after the energy boom of 2012-2016 the oil industry faced a severe capital contraction, and I think is now better poised to return capital to investors. What other sectors do you think this may apply to? +One is valued at $1.5m and the other at $1.35m. No mortgages. One the property is worth more than the house near Silicon beach. The other needs work. Two questions, I want to build my investments and buy more income property, where and how? Is now, middle of pandemic,a good time to buy multi-unit with so many renters defaulting and laws protecting them? Sorry if it’s a bit remedial. +Welcome to **HEDGEHOG** Community Project + + **HEDGEHOG** is a London based token that was launched on the Binance Smart Chain a week ago. The one week old token have been already tested, checked and vetted. + +**HEDGEHOG** is developing a decentralized contemporary art gallery and decentralized library. + +\-Their art gallery ‘Spike Gallery’ will focus on NFT’s as well as deal making and consultancy with international artists. + +\-Their library ‘DeLi’ will contain queries, obligations & mechanisms that allow you to interact with, build and deploy smart contracts and tokens with different functionalities. + +\-3% of every sale goes straight back to the holders. 🦔 + +\- Liquidity is locked 🔒 + +\- The current Market cap is 100k this project has huge potential for growth 🚀 + +📲 **For more information check out their telegram** \- [https://t.me/HEDGEHOGunion](https://t.me/HEDGEHOGunion) + +And their website - [https://hedgehogbsc.co.uk](https://hedgehogbsc.co.uk) + +**How To Buy** \- [https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x5ebd722b2acaa189fa81c9ed5914ba4b306cce6d](https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x5ebd722b2acaa189fa81c9ed5914ba4b306cce6d) + +**Smart Contract:** [https://bscscan.com/token/0x5ebd722b2acaa189fa81c9ed5914ba4b306cce6d](https://bscscan.com/token/0x5ebd722b2acaa189fa81c9ed5914ba4b306cce6d) +TL;DR how do you help less fortunate friends without becoming some sort of benevolent richman? + +I've got a friend I've known for a couple of years who is going through a very, very rough patch. I know this is legit because I met him through his family. I have met him, his wife, and his kids in person. This is legit. Not a scam. + +A guy who I play online games with found his wife in the garage unresponsive. He did CPR, revived her. She went to the hospital, woke up but was cognitively impaired and has serious disabilities now (blind, language, etc). Summary - don't get CPR. He's left raising two kids (one of hers from a previous relationship) plus her and works his ass off to do it. He's working third shift and getting rides from people to get to work because he doesn't have a car. + +I've already contributed to go fund me's for his kids's Christmas presents and he makes sure they are in good shape. I want to help him out as much as I can, but I don't want to be some benevolent rich friend of his who sprinkles dollar bills on his life. I want to help him improve his situation and mental health. How can I help him out anonymously without acting like I'm expecting something in return? + +I've given him a VR headset that's out of date and bought games for him on Steam (it's the only escape he has). I know he needs cash, but I don't know how to get it to him without fucking up the whole dynamic we have of just friends. Any help is appreciated. +$BONFIRE - PREVIOUS ATH 100M MCAP - CURRENTLY 40M + +KEEP IN MIND, OUR TOKEN IS ONLY 6 DAYS OLD. WITH 64K HOLDERS! + +Just as the title says, there's a huge opportunity within this coin. + +Community growth has been consistent and is thriving, take a visit to our discord server or telegram chat to see this. + +We currently have an AMA planned on discord by our leadership team! MORE INFORMATION CAN BE FOUND ON THE SERVER, IT'LL BE AT 7PM UK TIME. + +There is also the anticipation of a coinmarketcap and coingecko listing , which has been applied to a couple days ago. + +The previous ATH was 100m and it's currently at 40m, a perfect dip and entry opportunity. + +Marketing is going to be a huge focus from the admins , pushing this coin forth. + +Ultimately, the combination of: + +1. CMC + CG LISTING anticipation +2. transparency from leadership through AMAs (video ones coming after this) +3. An importance placed on marketing +4. A thriving, ever-growing community, which is growing at faster rates than other coins (SFM, etc) + +is what will drive this price up and a 1 billion market cap isn't something absurd. + +Our links: + +Website - www.bonfiretoken.co/ + +Discord [AMA HELD TODAY]: https://discord.gg/AhJXDff5FH + +Telegram - t.me/BonfireTG + +PancakeSwap - https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x5e90253fbae4dab78aa351f4e6fed08a64ab5590 + +Chart - https://poocoin.app/tokens/0x5e90253fbae4dab78aa351f4e6fed08a64ab5590 +https://dex.guru/token/0x5e90253fbae4dab78aa351f4e6fed08a64ab5590-bsc + +Our subreddit - https://reddit.com/r/BonfireToken/ + +Twitter - https://twitter.com/token_bonfire + +BSCScan: https://bscscan.com/token/0x5e90253fbae4dab78aa351f4e6fed08a64ab5590 +It seems like this vaccine has real promise but the challenge is in the transport. Most doctors don’t have the specialized refrigerators to store the fragile vaccine. Given the fact that these ultra low temperature refrigerators can be quite expensive (in the 10s of thousands each unit) which company will be the biggest benefactor of this newfound demand? +**💹Welcome to ForeverFOMO! The Next Gen Rebase Token! 💹** + +**What is ForeverFOMO?** + +ForeverFOMO is the next generation of rebase tokens, meaning that the code is completely unique, and brings many improvements to some rebase tokens! So far, the ForeverFOMO team has gotten a amazing logo, website, already have a whitepaper on the way, all in preparation for this stealth launch! There is a a team of experienced marketers, shillers, community managers, a strong marketing team, and even a solid community already forming in such a short notice!! Already, we have grown our community exponentially, and added many community mods! + +**but, what is a rebase?** + +A price-elastic token, or a rebase token, is one where the project’s total token supply is not fixed, but instead automatically adjusts on a routine basis. + +These token supply adjustments, called “rebases,” take place per market demand and are done in such a way that users’ proportional holdings ultimately don’t change and thus aren’t diluted. Rebases are performed per a specific target price, with the idea being that a token’s nominal price will steadily be moved over time toward its target, in our case, toward the price of bitcoin! + +Different then just a normal pegged token/stable coin, rebases make price-elastic tokens into synthetic commodities with fluctuating values and supplies that gradually stabilize. Ultimately, rebases are designed to be tradable and potentially extremely profitable. + +**Future of ForeverFOMO** + +**Day 1: Launch** + +Text chat will be paused temporarily at launch, in order to prevent fake CA spam and bots. Twitter and website are going to go live right around same time. So far for day one: Website, twitter, logo + stickers, rebasing explanation, and applying to all voting sites and Coingecko. Organic shilling and telling friends can commence and the main plan for marketing will be revealed more in depth. + +**Day 2: Community Discussion and Team AMA day** + +on day 2, we will have our first Voice AMA with the marketing team, some of our mods/community managers, and of course our loyal holders! + +Here, we will go more in-depth with the future steps to come for our marketing and advertising plans. + +Meaning, some examples of the exact steps we will be taking starting on day 3. + +Any questions for the team will also be answered in this AMA. Whether its about how rebasing works, plans for the future, etc. + +**Day 3: FOMO Phase 1 Rollout - First Leaps Towards FOMO** + +On Day 3, things will start to get serious. Our plans will start becoming actions and we will have our first promotions with TG + Twitter Influencers. + +Generous community incentives, Often voice AMA As well as voice chat raids. + +CryptoGems555, Cryptic Maestro, AltCryptoGems, Ads, CMS + /biz/ Posts, and much much more. + +however, this doesn't mark the only step we have for marketing. + +Promos will be staggered in order to maintain growth, each day we will increase our level of marketing strength and the community incentives in order to keep everything growing at the same pace. + +**Days 3-5: Stage 2. Exponential Growth.** + +Here is where we really will start to see growth. Members and holders will start increasing exponentially. Listing on CoinGecko will have been applied since day one so this should come anytime around here. + +Whitepaper will be released, graphics for explanation as well as videos, and more. + +Application for CMC + +Website DAPPS for rebasing stats and more. + +**Tokenomics:** + +ForeverFOMO will have a low tax in comparison to all of these recent reward tokens you see. For example, we will have the same buy and sell tax, and it will be only 10%. This tax will be enough to prevent vast majority of possible price manipulation, will also keep the liquidity pool healthy, and of course help fund marketing and our future ecosystem expansion! + +**5% liquidity, 4% marketing, 1% ecosystem development** + +**Websites and Socials:** + +🌐[https://ForeverFomo.finance](https://foreverfomo.finance/) + +💬[https://t.me/foreverfomo](https://t.me/foreverfomo) + +📱 [https://twitter.com/FomoForever](https://twitter.com/FomoForever) + +**💹** [https://charts.bogged.finance/0x95637d4FbE7153dCc3E26E71bdE7a2D82621F083](https://charts.bogged.finance/0x95637d4FbE7153dCc3E26E71bdE7a2D82621F083) + +🥞[https://pancakeswap.finance/swap?outputCurrency=0x95637d4fbe7153dcc3e26e71bde7a2d82621f083](https://pancakeswap.finance/swap?outputCurrency=0x95637d4fbe7153dcc3e26e71bde7a2d82621f083) +My father sold some property in Serbia recently and has around $100,000 he wishes to transfer from his bank account there (German bank Reiffesen) to his Chase account in the US. Due to regulations there now he was told he is only allowed to transfer $10,000 max each month. That means it would take 10 months which seems crazy; plus he’d rather not stay there that long. + +He thought about just bringing some of it with him when he flies back to the States and declaring it as required but people are scaring him with stories about how money can still be seized, even if you declare it. Anyone if this is true? Also, any ideas about how to move this money? +Long story short, I am getting fucked over by my apartment complex for something I didn't have. I hired a professional to come look in my apartment because I thought I had bed bugs. (The professional said I did not have bed bugs) My landlord saw him walking out of my residence, and asked him what he was doing and he had told him what he was doing. So a few days later I get a notice on my door, saying I have to pay $1800 for treatments they are going to begin doing but I told them no, however they said they have "proof" and began the treatments anyway so now I am stuck with 1800 bill i have to pay in 2 weeks. I am trying to work double shifts at my job but with bills I am not making nearly enough to pay it off. What can I do? +Hi, im 19 and my life is a mess. since covid i lost jobs and i have trouble making some money. I started my new job yesterday and it been stressful. I need to pay so much things in so less time. My cat got sick and he looks awful, i needed to change the veterinarians appointment in two weeks because i didn’t have the money. My rent is due in 2 weeks, my electricity bills is due in 2 weeks in or i dont have electricity anymore. My phone bills is already due and i can’t even make phone calls. And even on top of that, im paid minimum wage. I can’t even repair my broken glasses, im sick im scared to have covid. How am i supposed to go to work tomorrow as my 2nd shift sick ? My mom can’t even support me and my dad don’t give a single shit. Don’t have family either. Im gonna have a mental breakdown. + + +Spoilers: im gonna be in trouble, im sure +I’m 17, turning 18 in a couple months. I work two minimum wage jobs, and earn about $15k a year. I’ve never been a fan of school, so I would love to avoid college as a whole (as lazy as it sounds). What would be the best career path to make at least $100k a year? +I have an idea that I believe can change my life. I’ve done the math, compared to other businesses in my area and I know that I could do it better than anyone in my city but I don’t have the money to start. I need 15k, I would take out a loan but I can’t. Anyone know how can get this much money within a reasonable amount of time. I am extremely driven, hard working, and I have a full business plan and pitch. Any advice helps! +Hi guys this is my list of the worst 5 stocks on the ASX. + + + +1. CBA: Commonwealth bank. They literally buy people's houses for them. How is this a sustainable business model? NEXT! + + +2. WOW: Woolworths Group Ltd. I went into my local woolies today and the floors were dirty, the self serve checkout told me to bag my item (I already had), and the cashiers didn't smile. Complete and utter shit stock. + + +3. RHC. Ramsay Health Care. Don't get me wrong, Gordon is a great chef, but he literally has NO MEDICAL TRAINING. Lawsuit waiting to happen. NEXT! + + +4. TLS. Telstra. My phone contract is with Optus. + + +5. BRN. Brainchip. Musk is a literal villian. He isn't putting a chip in my fucking head. NEXT! +If you are seeing all of the news and posts all over Reddit about GameStop (GME) and WallStreetBets, but don’t really understand it, I’ve done a bonus episode of The UK Money Podcast. + +I break it down and explain the issue as simply as I can. + +THIS IS NOT A RECOMMENDATION TO BUY ANYTHING. Day trading is really risky and the likelihood is you’ll lose money even with normal shares, let alone when there is crazy volatility the likes of which we’ve never seen! + +[Apple Podcasts](https://podcasts.apple.com/gb/podcast/the-uk-money-podcast/id1540841651#episodeGuid=Buzzsprout-7553593) + +[Spotify](https://open.spotify.com/episode/03ZaZVtadKvQScvz5pKWXd?si=q36sCtlISGKJSSDMU2ptOw) + +[Google Podcasts](https://podcasts.google.com/feed/aHR0cHM6Ly9mZWVkcy5idXp6c3Byb3V0LmNvbS8xNDkxMjk1LnJzcw/episode/QnV6enNwcm91dC03NTUzNTkz?sa=X&ved=0CAUQkfYCahcKEwjA986nj8HuAhUAAAAAHQAAAAAQBw) +We have been trying to contact our landlord for the past two weeks trying to get our next year lease signed. We had agreed to this lease over the phone but were waiting for the landlord to prepare them. They were never signed and our lease is up in 1 month. Last night one of the water lines broke on the exterior of the house (THANK GOD) we immediately tried to contact him with no response and with a little digging found his obituary. He's been dead for 22 days and we have no idea A, how to repair the busted pipe and B, what will happen with our living situation. No one has contacted us.... We're considering looking into a first time home buyer loan to see if we could purchase the property, but we don't know when we'll be contacted by the family. +I know we’re all disappointed by wardens behaviour. But just be mindful (as many have pointed out) he is a 20-something yr old kid and this much hate/attention from the internet could be potentially dangerous. +Let’s just leave it be and move on for everyone’s well-being. +Im planning my first bigger house that will also have a poolhouse with gym, onsen and sauna and I know I will absolutely love this. Looking for more ideas of what to add. +The wealthy can and are often able to minimise taxes, in part due to the complexities of modern tax systems and loopholes of progressive taxes. However, the view is that flat taxes are regressive. + +Consumption taxes are also very regressive and the poor end up paying a much higher proportion of their incomes on these taxes + +Would a flat tax, i.e 25% on all income regardless of source (income, capital gains) be more progressive? +I see common wisdom says to close a position when you hit X% of gains. But where do you roll to? If you want to be in the 21-35 dte space, for instance, and you hit 50% gains in 2 weeks, then you're forced to roll to a 40+ dte option, and that's not what you want. + +Additionally, this kind of rolling would necessarily result in a set amount of PnL, so there's no point rolling. Might as well hold to the end and then re-open because a near term option has more decay. + +The other option would be roll to a different strike, and that's possible, but at that point, it seems like a different trade altogether. + +So after you close or roll, where to next? +For example, lets just say that I theoretically put $4000 into crypto, watched it quadruple and now I theoretically had $16k in crypto. + +Now lets imagine that I theoretically put half of that so $8000 into this funny haha dog coin called Shiba Inu or something in August 2020 and just forgot about it cause it's funny to put a lot of money into stupid jokes. + +But theoretically lets say that it turned to $8 billion in a bit over a year and now I want to cash out and move it to my bank account. How would I theoretically go on about this safely if I theoretically had this much money in crypto, in theory of course. + +>!EDIT: Many people think this is real. No. I am not the guy who has 8 Bil in Shib. If I was I would never be making this post. I'm just poking fun at the guy like everybody else. This post is flaired comedy for a reason.!< +"Your goal as an investor should simply be to purchase, at a **rational price**, a part interest in an easily-understandable business whose **earnings** are **virtually certain** **to be** **materially higher five, ten and twenty years from now**. Over time, you will find only a few companies that meet these standards - so when you see one that qualifies, you should buy a meaningful amount of stock. You must also resist the temptation to stray from your guidelines: If you aren't willing to own a stock for ten years, don't even think about owning it for ten minutes. Put together a portfolio of companies whose aggregate **earnings** **march upward over the years, and so also will the portfolio's market value**." - Warren Buffett +Almost three years ago my wife and I had our first kid. I kept track of everything that we spent money on that was kid related. Starting from the pregnancy test to the hospital delivery bill. We also estimated the value of any gift we received to give a full ~~itemized bill~~ idea of how much money was spent on our kid before she was even born. I made an ugly spreadsheet to track it all. I thought about posting this here when I was all done but decided not to because A, I just had a kid and was busy, and 2 I wasn't ready for the criticism I was inevitably going to receive. But, now I am ready and less busy, so here we go. + +Starting with the big number: +To bring our baby into the world from scratch cost $9,984.55. +My wife and I spent $6445.66. +We estimated receiving $3,538.89 in gifts. + +I broke everything down into these categories: + +Category |Cost +---|--- +Gear | $1,661.02 +Diapers Ect. | $119.90 +Baby Clothes | $294.54 +Mom Clothes | $804.30 +Medical | $4,170.05 +Books | $248.78 +Toys | $275.93 +Bedroom | $2,305.53 +Feeding | $161.21 + +In anticipation of some shock on all this spending I'll add that we bought things that we felt would be useful to our lifestyle, within our budget, and that would last for many years to come. We could have spent less, and many people do, and many people actually go well beyond. + +**The most expensive things were:** +The hospital trip to safely have a baby ($3517 delivery related bills combined) +*-Having a baby fall out of a woman in a hospital in America is expensive. This was after insurance covered their portion.* +A crib + mattress that converts to a toddler bed and full size bed ($890 total - gift) +*-Kid is almost 3 and we converted the crib to the toddler bed shortly after she turned 2. She wasn't a chewer, so it's currently in great shape to stay her bed until her teens or beyond.* +Mom clothes ($804.30) +*-After seeing this final number I told myself I shouldn't ever gain too much weight because I now know how much a new wardrobe could end up costing me. We were at a point in life where most of the items were bought new and that was OK. +A new glider chair ($500 - gift) +*-I wish we could have found this used but didn't have any luck. We wanted one with a high back because I'm tall. I'm thankful we found one, I spent so many nights rocking and dozing in and out of sleep on this thing, I'm very happy with it. We still use it nightly for reading bedtime stories.* +The stroller ($384) +*-We got one of those fancy BOB running strollers, I ran over a hundred miles with her and we walked plenty of unpaved trails at our local state park. She spent hundreds of hours in this thing. This was the only stroller we used, otherwise we carried her everywhere in the front/back carrier. Plus these strollers have a high resale value.* +Car Seat + extra base ($375) +*-We have two cars, a base for each car was great.* +Two camera video baby monitor ($250) +*-We did a lot of traveling and having the extra camera to just pack and go was really handy. A video monitor is the shit, being able to check and see if a noise was just stirring or something more was great.* +A cute rug ($239) +*-A cheap rug would have served the same purpose, but shit it's our first kid, sometimes you gotta get that cute thing.* + +Writing this with the benefit of hind sight I think we actually did a great job of getting the right thing for us on the first try. We tried to get things with the idea of potentially having another child. Of everything major that we bought, the monitor is the only thing we would need to replace if another kid sauntered into our lives. The battery is now totally useless and one of the cameras died last month. Also we dropped it, so the power cord is soldiered to the chip and I'm awful at soldiering so it whole housing is glued together to keep it working. + +So can you do this cheaper? Absolutely, buy everything used. Babies aren't all that picky. I lived in rural Illinois at the time and our availability to get nice used stuff was limited. Also hand-me-downs can help tremendously, our extended family had kids eight years or more years before us (if they had any) and lived many states away so most of their baby stuff was gone. Also, don't underestimate the generosity of others, there are people out there who LOVE babies and love buying baby things, hopefully you know one or two. + +Another money saving tidbit, use cloth diapers. Back when I was weighing the benefits of them, I found we would break even with cloth over disposable at two years. Our kid suddenly decided to be potty trained right before Christmas so our cloth diapers lasted a bit over 2.5 years, we definitely saved money with cloth. If we accidentally have another kid we will save a ton in diapers because the original ones we got are still in great shape. Also, you can find used cloth diapers around which can save tons, we hope to sell ours. A very appreciable downside to cloth, you're guaranteed to be washing the diapers about 2-4 times per week. + +A shout out to /r/predaddit for all the helpful tips and stories that were so great at the time. Also /u/steeldirigible98 & /u/SavingsJada and the several updoots for the courage to finally post this on this sub. I hope this info helps someone out there. +TL/DR: Due to the significant growth of index fund use, voting rights and control of public companies are held by an ever shrinking group of index fund managers (Vanguard, Blackrock, Fidelity, State Street) + +[https://www.wsj.com/articles/bogle-sounds-a-warning-on-index-funds-1543504551](https://www.wsj.com/articles/bogle-sounds-a-warning-on-index-funds-1543504551) + +There no longer can be any doubt that the creation of the first index mutual fund was the most successful innovation—especially for investors—in modern financial history. The question we need to ask ourselves now is: What happens if it becomes too successful for its own good? + +The First Index Investment Trust, which tracks the returns of the S&P 500 and is now known as the Vanguard 500 Index Fund, was founded on December 31, 1975. It was the first “product,” as it were, of a new mutual fund manager, The Vanguard Group, the company I had founded only one year earlier. + +The fund’s August 1976 initial public offering may have been the worst underwriting in Wall Street history. Despite the leadership of the Street’s four largest retail brokers, the IPO fell far short of its original $250 million target. The initial assets of 500 Index Fund totaled but $11.3 million—falling a mere 95% short of its goal. + +The fund’s struggle for the attention (and dollars) of investors was epic. Known as “Bogle’s folly,” the fund’s novel strategy of simply tracking a broad market index was almost totally rejected by Wall Street. The head of Fidelity, then by far the fund industry’s largest firm, put the kiss of death on his tiny rival: “I can’t believe that the great mass of investors are \[sic\] going to be satisfied with just receiving average returns. The name of the game is to be the best.” + +Almost a decade passed before a second S&P 500 index fund was formed, by Wells Fargo in 1984. During that period, Vanguard’s index fund attracted cash inflow averaging only $16 million per year. + +Now let’s advance the clock to 2018. What a difference 42 years makes! Equity index fund assets now total some $4.6 trillion, while total index fund assets have surpassed $6 trillion. Of this total, about 70% is invested in broad market index funds modeled on the original Vanguard fund. + +Yes, U.S. index mutual funds have grown to huge size, with their holdings doubling from 4.5% of total U.S. stock-market value in 2002 to 9% in 2009, and then almost doubling again to more than 17% in 2018. Even that penetration understates the role of mutual fund managers, as they also offer actively managed funds, and their combined assets amount to more than 35% of the shares of U.S. corporations. + +If historical trends continue, a handful of giant institutional investors will one day hold voting control of virtually every large U.S. corporation. Public policy cannot ignore this growing dominance, and consider its impact on the financial markets, corporate governance, and regulation. These will be major issues in the coming era. + +Three index fund managers dominate the field with a collective 81% share of index fund assets: Vanguard has a 51% share; BlackRock, 21%; and State Street Global, 9%. Such domination exists primarily because the indexing field attracts few new major entrants. + +Why? Partly because of two high barriers to entry: the huge scale enjoyed by the big indexers would be difficult to replicate by new entrants; and index fund prices (their expense ratios, or fees) have been driven to commodity-like levels, even to zero. If Fidelity’s 2018 offering of two zero-cost index funds has established a new “price point” for index funds, the enthusiasm of additional firms to create new index funds will diminish even further. So we can’t rely on new competitors to reduce today’s concentration. + +Most observers expect that the share of corporate ownership by index funds will continue to grow over the next decade. It seems only a matter of time until index mutual funds cross the 50% mark. If that were to happen, the “Big Three” might own 30% or more of the U.S. stock market—effective control. I do not believe that such concentration would serve the national interest. + +My concerns are shared by many academic observers. In a draft paper released in September, Prof. John C. Coates of Harvard Law School wrote that indexing is reshaping corporate governance, and warned that we are tipping toward a point where the voting power will be “controlled by a small number of individuals” who can exercise “practical power over the majority of U.S. public companies.” Professor Coates does not like what he sees, and offers tentative policy options—some necessary, often painful to contemplate. His conclusion—“The issue is not likely to go away”—is unarguable. + +Solutions to resolve the issues connected with the concentration of corporate ownership are not self-evident, but a number of tentative possibilities have already been advanced: + +• More competition from new entrants to the index field. For the reasons noted above, this eventuality seems highly unlikely. + +• Force giant index funds to spin off their assets into a number of separate entities, each independently managed. Such a drastic step would—and should—face near-insurmountable obstacles, for it would create havoc for index investors and managers alike. + +• Require index funds to hold just one company in any industry. Leaving aside the dubious ability of either academia or federal bureaucrats to define precisely what constitutes a given industry, such a drastic change would lead to the destruction of today’s S&P 500 index fund, by common agreement, the most beneficial innovation for investors of the modern age. + +• Timely and full public disclosure by index funds of their voting policies and public documentation of each engagement with corporate managers. This would take today’s transparent and constructive governance practices several steps further. + +• Require index funds to retain an independent supervisory board with full responsibility for all decisions regarding corporate governance. The problem with this idea is that it is not clear how such a board could add to the present scrutiny of the fund’s independent directors. + +• Limit the voting power of corporate shares held by index managers. But such a step would, in substance, transfer voting rights from corporate stock owners, who care about the long-term, to corporate stock renters, who do not... an absurd outcome. + +• Enact federal legislation making it clear that directors of index funds and other large money managers have a fiduciary duty to vote solely in the interest of the funds’ shareholders. While I believe that such a fiduciary duty is implicit today, making it explicit, with appropriate penalties for violations, would be a constructive step. + +It is time for public officials to consider the pros and cons of these issues with indexers, the financial community, academia, and active managers alike—and develop national policies that support high standards of corporate governance. It will require their working together constructively and cooperatively. + +But one thing seems crystal clear. Even if present trends continue (sometimes they don’t), the enormous value of index funds should not be ignored. First, index funds provide investors with the most effective stock-market strategy of all time: buy American business and hold it forever, and do so at rock-bottom cost. Second, index funds are among the few truly long-term owners of stocks—for all practical purposes, permanent owners of capital—an enormously valuable asset to society. The long-term focus of index funds is a much needed counterweight to the short-termism favored by so many market participants. + +Prof. Coates agrees that nothing should jeopardize the existence of today’s index funds. + +“Indexing has created real and large social benefits in the form of lower expenses and greater long-term returns for millions of individuals investing directly or indirectly for retirement,” he writes. “A ban on indexing would clearly not be a good idea.” I can only say, “Amen” to those words. + +*Mr. Bogle is founder of The Vanguard Group and creator of the first index mutual fund. This article is adapted from his new book, “Stay the Course: The Story of Vanguard and the Index Revolution,” to be published by Wiley on Dec. 6.* +Hi PF! Wondering if anyone's had encountered this situation before... + +Just got my Oregon state tax refund via direct deposit, and it's exactly 18k higher than what I calculated I would get when doing my taxes ($18,393 vs $393). I called the Oregon Dept of Revenue, and rep said it looks like someone else's payment was applied to my refund and the system had some kinda mix up. She said to just cut a check for 18k, send it back to them, and write a note explaining what happened. But she also didn't seem super confident when giving me that advice, and wasn't clear on any details. Makes me nervous. Don't wanna write a check for 18k and then have them automatically take 18k sometime in the future. + +I'm emailing them, to at least get those directions in writing, and start a paper trail. But wondering if any else has had something similar happen, and what steps you took? +(Background- I have been a sous chef for years. Never had more than 5k in my bank account and work 12 hour days regularly. ) + +Last year I bought 144 Eth at the going price of around $10. My goal was to buy a van and travel the country with my girlfriend, so when Eth skyrocketed to $17 I sold and bought a 97 Dodge Van. + +I spent all summer converting the van to a camper and saving my pennies. The van is now done and we are about to take off. Can you believe my surprise when out of curiosity I checked the price of Eth? My cheap old van now cost me somewhere around $100k! + +For a while, I was bitter. I looked with disdain at my new house on wheels, thinking about the life-changing amount of money it cost me. + +Then, I remembered it was Eth that quickly got me the savings I needed. It was Eth that bought me a van I my partner and I will make memories in forever. + +So if you sold early, or missed a dip or bought high, remember that there will always be opportunities you will miss and money you could have made, but be grateful for the things in your life that aren't about money. Think about the ways you can change and change others lives around you if you held. Take a breather from the screen. +almost a month ago, I posted about getting cold feet to a business sale here: [https://www.reddit.com/r/fatFIRE/comments/wbnlai/supposed\_to\_sell\_one\_of\_my\_businesses\_this\_week/](https://www.reddit.com/r/fatFIRE/comments/wbnlai/supposed_to_sell_one_of_my_businesses_this_week/) + +I appreciate the help you all offered as well as my wife who also insisted this was the best course forward. + +I ended up closing exactly 3 weeks ago. We had an all company meeting where I announced the sale to all my employees. The new owners were there and were thrilled to hire 100% of my staff. It went off without any drama. As I was standing on stage and sharing the different reasons for the sale, I looked around at various employees and saw heads nod, even heard one employee speak up and affirm the decision. + +The next morning at 545 am, I heard my phone ring while in the shower and the new company needed IT support at the office. So there I go, the first day not owning that company, into the office as an unpaid gesture of good faith to get their new IT team on track and make the first day successful for my (ex) team. Yes, I want the new owners to be successful but more than that, I wanted to make sure the employees were taken care of properly. + +Over the next week, I think I went through every phase of grief, many of them countless times. I was generally sad, disappointed, and frustrated with my decision. My HR lady on staff was continually pushing my buttons and adding to the grief that I was feeling. I ended up having to silence communications to her as her motivations were not pure. + +The 2nd week, things started to become real. My wife and I started to find a new groove, I continued to get closer to the kids. The fun started happening. We had no agenda, no plan, and I was mortified and loving it at the same time. As one who lived EOS, the 10 year, 3 year, 1 year, etc plans, this lack of planning was so unsettling. But it was freeing at the same time. + +Last week, it finally clicked. This \*was\* the right decision for me and the family. My oldest son and I took a 2 hour bike ride to go 2 blocks around the neighborhood. It was wonderful, watching his mind question, explore, grow, and to be there enjoying those moments with him, that was most excellent. + +As I was negotiating and then closing with the 3 operating partners of the acquiring company, all 3 of them expressed some form of jealousy for me being willing to step off the train and invest my time into the family. Here they all are, 2 of them with grandkids, nearly certain to have a greater NW than me, and they won't let themselves stop and enjoy whatever amount of life they have left. + +I think that's the message that I wanted to share here: if you can take the win, step off the train, just do it! Yes, its scary as all get out. Yes, not having a plan is different. Yes, its one of the best things you can do. + +You don't know what the future holds, go hug your loved ones and spend as much time as you can with them. Thats all the matters in the end. +'Big Short' investor Michael Burry sold all but one of his stocks last quarter — after warning an epic market crash is coming + +[https://markets.businessinsider.com/news/stocks/big-short-michael-burry-scion-q2-stock-portfolio-market-crash-2022-8](https://markets.businessinsider.com/news/stocks/big-short-michael-burry-scion-q2-stock-portfolio-market-crash-2022-8) +News is trickling in on this right now (gaining steam on Twitter), looks like mainstream sources haven't picked it up yet or are downplaying. Here You can find DMSA's press release, [http://www.dmsa-agentur.de/pressemitteilungen](http://www.dmsa-agentur.de/pressemitteilungen) + +From what I gather, a $148 million offshore bond payment due "today" still hasn't been paid, triggering formal bankruptcy proceedings against the company. I believe that the deadline was midnight in China timezone, and the press release was filed right around there. We cannot know for sure if a last-hour payment was made at this point until confirmed further. But if this is all true , it could have some pretty strong short term shocks for the market. + +For now treat this with a grain of salt until more verification and information. Either way, buckle up. + +**EDIT: English Press Release** [https://www.prnewswire.com/news-releases/evergrande-officially-defaulted---dmsa-is-preparing-bankruptcy-proceedings-against-evergrande-group-301421327.html](https://www.prnewswire.com/news-releases/evergrande-officially-defaulted---dmsa-is-preparing-bankruptcy-proceedings-against-evergrande-group-301421327.html) + +**EDIT 2: Section of note:** + +"Particularly problematic for Evergrande: all 23 outstanding bonds have a cross-default clause. "This means that if a single one of these bonds defaults, all 23 outstanding bonds automatically have 'default' status" DMSA senior analyst Metzler knows. However, this does not automatically result in a bankruptcy for Evergrande Group. To determine bankruptcy, a insolvency petition must be filed with the court. This can be done either by the company itself or by one or more of the company's creditors. And this is precisely what is now planned. Metzler: "DMSA is preparing bankruptcy proceedings against Evergrande. We are already holding talks with other investors in this regard. We would be pleased if other investors were to join our action group." + +**edit 3** Now mainstream media is reporting conflicting info that the bonds have in fact been paid according to Clearstream. +Fellow Apes, + +I am here for one reason: to make **money**. $BONFIRE seems to be the project that will make that happen for me, and it could probably help you out as well. TL;DR: [https://www.bonfiretoken.co/](https://www.bonfiretoken.co/) + +I discovered Bonfire last night an hour after it was launched and almost immediately I could see the massive potential this had to become something special and stand out from the other 99% of coins that just simply fail and die. The branding, low marketcap, tokenomics, and incredible community are all signs of a winner. I bought Safemoon at 600 and Bonfire is giving me all the same bullish signals, but it actually seems to be a step above when Safemoon was at this stage. + +This token it has quickly gained 2500 holders in less than 24 hours. The telegram, reddit, twitter, and discord have all been rapidly growing. If you know anything about how these markets work you’ll know that general buzz and keeping steady growth is the most bullish signal there is. The rate of growth for Bonfire is just remarkable for how new this project is. The price is currently on the verge of breaking past the all time high and depending on when you read this we may already gone parabolic. + +# DEVS/COMMUNITY + +Easily my favorite part about Bonfire is the team. They are responsive, crazy talented and are CONSTANTLY working to make this the best project on the market. They’ve been working on huge marketing/charity/influencer/collaboration/partnership campaigns such as a promotion from a 2M follower tiktoker. + +The community is like a breathe of fresh air compared to others. Everyone is so welcoming, friendly and positive it’s almost infectious. A lot of average joe investors like myself are taking initiative and doing everything they can to make sure Bonfire succeeds. + +# TOKENOMICS + +**Market Cap**: \~$1,500,000**Holders**: \~2500**Supply**: 1000 Trillion**Tax**: 10% tax on every transaction. 5% to holders and 5% to liquidity.**Slippage**: 11-12% + +# DETAILS + +* Ownership renounced. Liquidity locked. +* dApp and NFT Marketplace in development. +* CoinMarketCap and CoinGecko listing imminent. +* Professional grade website. +* Poocoin front page advert running. +* Charity events and merchandise in the works. + +## [📝](https://emojipedia.org/memo/) Telegram: [https://t.me/BonfireTG](https://t.me/BonfireTG) + +[🥞](https://emojipedia.org/pancakes/) **Pancakeswap**: [https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x5e90253fbae4Dab78aa351f4E6fed08A64AB5590](https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x5e90253fbae4Dab78aa351f4E6fed08A64AB5590) + +📈 **Chart**: [https://poocoin.app/tokens/0x5e90253fbae4dab78aa351f4e6fed08a64ab5590](https://poocoin.app/tokens/0x5e90253fbae4dab78aa351f4e6fed08a64ab5590) + +📜 **Contract**: [https://bscscan.com/token/0x5e90253fbae4dab78aa351f4e6fed08a64ab5590](https://bscscan.com/token/0x5e90253fbae4dab78aa351f4e6fed08a64ab5590) +1. Don’t buy presale. The scam rate is more than 50%. Statistically, YOU WILL LOSE. + +2. Don’t buy if you see a huge dev wallet. +Look at their bscscan link and look under holders. If you see a wallet with more than 2% before launch, stay away. + +3. Don’t buy just because it’s upvoted a lot and has a lot of awards. It’s easy to ask on telegram to upvote and it only costs a few bucks to award a post. + +4. Don’t buy without verifying that liquidity is locked. +Don’t listen to the devs saying it’s locked, verify. + +5. Don’t buy if you see thousands of twitter followers but barely any likes or comments on posts. They bought the followers for $20 bucks. Same thing with telegram. + +6. Don’t listen if it’s a team with a previous 100x. It’s most likely a lie. Why would they create a second coin if the first one was so good? People don’t have time to work on two projects at once. They are trying to fool you. And if they are really creating multiple ones, the answer is simple, it’s a pump and dump. + +7. Avoid buying in the first 30-60 minutes. I know you miss the best entry doing it but given the # of scams now, it’s worth waiting. + +8. No website but maximum shill. If they say guaranteed 100x and have barely done any work, it's a scam. + +9. Advertising “presale sold out in x minutes” is not always a good thing. It can all be bought up by people who will dump shortly after launch. + +10. Verify that the developers are known. If you don't know the owner, it's a huge gamble. I leave this one last because almost 99% of coins here fail this point and there are some that have unknown devs that succeeded. That's the nature of DeFi after all. Also, as we progress into this mania, even having a known dev will not be enough because people will think they can get away with scams, until they don't. I mean, hello bitconnect. + +Seriously guys, if we collectively stop putting our money in all these shitcoins, the world will be a better place. Stop supporting this behavior. +Every week the scams get more and more convincing and scammers find new tricks up their sleeves. You always have to improve your DYOR. + + +For the mods of this subreddit. You all need to find more moderators. You can’t keep up. + +Edit: A lot of people are asking how to verify if liquidity is locked. +Unfortunately, the average redditor can't verify on their own. You have to wait for a reputable audit. +Even if the liquidity is locked, scammers can have a mint method that creates more coins out of thin air. +To give you an idea of the process to verify, read this article here: +https://unifundglobal.medium.com/liquidity-locking-b86e431c7ed2 + +Don’t trust anything in crypto, including myself. I’m just another fool. +There is zero reason to fret about the price manipulation we’re seeing. I expect it to get more blatant and worse as the shfs get closer to their ultimate demise. + +But who cares? All that matters is locking up shares in CS. If they want to manipulate the price lower and give me more shares fine with me. + +At this point, while I am still very angry about the crime and collusion, I’m completely emotionless when it comes to the act of buying and holding GME. I’m a fucking cyborg. My order executes on CS every Monday and settles on Wednesday, at which point I put in a new buy order for the coming Monday. I’ll do it forever. I’ll never stop. +*crossed, I proofread my entire post but forgot to do the title goddammit. + +This post isn't meant to be any kind of brag/humblebrag, simply motivation for people out there that maybe find the FI/RE lifestyle untenable. I know there's a lot of people on here that don't have a fancy degree, $150k/year jobs, marry into wealth, get a large inheritance, etc. etc. This is a topic for the average Joe that's maybe a little lost in life but being stuck in the daily grind until he or she is 70 and life is behind them isn't what they want. + +*** + +My Background Info + +Grew up in suburbia outside of a LCOL city in the Northeast USA. Still live in the same general area. Most of my family is dead or I'm not in contact with them (not trying to be a sob story here), and have had no inheritances or insurance payouts. I went to college for about 2 years but absolutely hated it - I was never more depressed in my life than in my last year of high school and into college. I never knew what I wanted to do and majored in something I was good at (Math) but... ugh, I just hate talking about it. I hated school so much, and wish I put a lot more thought into things when I was younger, but I didn't have any direction and went to college just because it was what everyone else was doing and was expected of me. Looking back, I wish I had gone with a trade or at least community college first, but oh well. I had some scholarships but the majority of my college was paid for via loans, which I still had to pay off with no degree to show for it. I finished paying these off completely about 2 years ago. + +I still have no idea what I want to do with my life. If you're in the same boat, I really hope this speaks to you, because being financially independent and retiring early is still in your grasp if you put your mind to it. I have a lot of hobbies but I feel like I've never found my passion, and I'm still looking. + +*** + +Net Worth + +Assets: + +* $56k condo. I bought this almost 3 years ago. I have HOA fees but that combined with utilities and my mortgage payment, I'm paying a hair under $800/month (and I live alone!). I got a really good deal at the time - most of the units in this condominium were going for $60-65k and housing has gone up, so if and when I sell I will probably make more, but for the purposes of this thread I'm lowballing and just using what I paid for it originally. Living in a LCOL of living area has been huge for me. + +* $55.5k in retirement accounts. This is the big one. I started investing in my company's 401k as soon as I got to my current job 5 years ago, even though I didn't fully know what I was getting into. It was one of the best decisions I've ever made. $49k in 401k and $5.7k in a Roth IRA that I started this year. If you're going to stop here my biggest piece of financial advice is INVEST EARLY. Invest as early as possible. Yes, we're probably going to see market corrections soon because it's been insane lately, but if you're super worried about it I advise you to read [this](https://www.cnbc.com/2015/08/27/the-inspiring-story-of-the-worst-market-timer-ever.html). + +* $20k in bank. I have about $13k in my saving account at the local credit union, and $7k in a checking account. This one I'm still working on - it's hard for me to not have money in my account because I'm just a worrisome Wally. In January, I am going to dump another $5.5k from this into my IRA and then figure out what to do with the rest. + +* $7.5k car, fully paid off. The range on KBB is $7,780-$8,973 for my car in good condition. Again, lowballing because I take good care of it but I'm rounding down for everything in the asset category. + +Total is $139k. + +Liabilities: + +* $32.1k left on my mortage payments. This is very slightly rounded up. I've been aggressive paying this off, simply because I'm a debt averse person. Most people on this sub would recommend NOT paying this off as aggressively as I have because I'd get better returns investing, but I'm okay with this and it's given me peace of mind. + +* And that's it. I mentioned I paid off my student loans, and I always pay off my credit cards in full because I only buy things I can already afford. Not having (a lot of) debt is GREAT, and something I highly recommend. + +Assets - Liability = Net Worth: + +$139k - $32.1k = $106.9k + +*** + +I was working dead end jobs during and after college just kind of putzing around for a few years. My last two jobs I was making $8.25/hr and $8/hr. A friend of mine invited me to a job fair and I said what the hell. It wasn't a job fair, it was a headhunter/temp agency that got our information. My friend and I hit it off with the lady, and she recommended a really good company to work for and again, I said what the hell. It was a factory job and I was making $12/hour, which was awesome to me at the time. I worked in the factory for about 2 years when a position opened up in the office at the same company. I applied because again, what the hell, and got the position mostly due to my experience and interpersonal skills. It's a really boring, primarily data entry position, but with raises and such I'm up to just over $17/hour, with a monthly bonus of anywhere from 5%-20% (it's usually around 16% or so). So about $20/hour. With overtime, I've been coming in around or just under $45k/year (pre-taxes... my state income taxes are prettay prettay prettay high), and will probably be around there again this year. + +It is NOT glamorous. I kind of glossed over it, but I've busted my ass to get here over the past 5 years. I started working a hard labor job that I fell into, and lucked into a position opening up, but I got both positions and rose to where I am because of my skills, attitude, and by working hard. I do not like my job at all, but it's far and away the best job I've ever had. I have health insurance. I have a 401k, and they match up to 6% of what I put in (currently putting in 20% of my paycheck, may go higher next year). It can be high stress when I get busy but I often times find myself spending half the day on reddit, and I read a lot on the job. I have to stretch every morning and evening because I get sciatic nerve pain from sitting all day. + +I don't plan on going back to school, probably never will. I don't know what I want to do with my life. But I'm really enjoying it. I don't let my job define me. I have hobbies and friends I really enjoy. I date, and I've been getting into travelling a lot more. I took two road trips this year, and next year I hope to go overseas for the first time in my life. + +I've always been a naturally frugal person, so I plan to lean FIRE. I don't have an end goal number - I just know I want to retire as soon as possible so I can spend more time on myself. I want to explore more hobbies. I want to see what the world has to offer me. I do eventually want to find something I'm truly passionate about, but at this point I don't think I'll be too upset if that never comes. + +*** + +My thoughts are kind of all over the place. I'm writing this while watching Night of the Creeps because it's October, and I'm not a great writer to begin with. If you take anything away from my post, take away these 3 things: + +1) Enjoy and live your life. Your happiness, no matter what triggers it, is paramount. + +2) Your path to financial independence doesn't have to be like anyone else's. Use the insane amount of resources available to you on this sub and online, but don't get discouraged if your decisions and what's available to you is different. + +3) Fuck work. + +EDIT: I'm signing off this throwaway, appreciated reading and responding to you guys in here. I hope this reaches people that need it - I never would have believed I'd be in this position even just two years ago. It gets better, keep working at it. I love this sub and am so I glad I found it, not just for the advice and good conversation but because it's so nice to be understood by like-minded people. + +EDIT2: Well it's safe to say this got a tad more exposure than I thought it would (2nd highest upvoted thread on this sub all time... holy moly). I decided to log back into the throwaway and will be commenting on a few more posts. Most notably, a lot of people seemed to be interested in my condo and especially the price, so I made a [standalone post about it here](https://www.reddit.com/r/financialindependence/comments/744o7e/28m_single_cross_100k_net_worth_this_year_no/dnx0i0i/). + +I just want to thank everyone for reading, it was fun to share my story and read through all the posts today at work. I kind of forgot about the topic and then checked the sub at work on my break like I usually do and was blown away. I'm especially tickled pink about the posts people have made about being in the same or similar situation, past, present, and future. It's always so nice for me to find people that I can relate with, and when I saw all the posts about people just starting out at a similar salary and talking about how my post gave them motivation, it warmed the cockles of my heart. Apparently I also have a few long lost twins out there. +Welcome to the Daily General Discussion thread of /r/EthTrader. + +*** + +The thread guidelines are as follows: + +- All sub rules apply here so please review our **[rules page](https://www.reddit.com/r/ethtrader/about/rules/)** to become familiar with them. The rules page is also linked in the announcement bar above. +- This thread is meant to be more relaxed compared to the serious daily thread. Memes, lambos, moons are all welcome. +- If the front page gets overloaded with memes, all but the top two posted and voted on may be removed. Basically, please post memes in this thread first and upvote the best so the mods know which ones to keep if we need to remove a bunch of memes from the front page. + +*** + + Resources and other information: + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our [Ethereum Education wiki page](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Thank you in advance for your participation. Enjoy! + +Serious question. + +I purchased my first property in 1991. Every property I have bought and sold over the past 30 years not only increased in value during the course of my ownership, but also since I sold the property. + +Just trying to get a sense of what kind of price cuts we're seeing already. +Currently, there is a post on the frontpage saying that ADA is overhyped. While the author has some points, most of them can be countered pretty easily. Let me explain + +Disclaimer: I am mainly comparing ADA to ETH in this post, and I do not prefer one coin over the other. While I will try to be as objective as possible, for transparency reasons I want you to know that I hold both of them in my personal Portfolio + +Let me now list all the arguments people use against Cardano + +"ADA doesn't have a working product" + +Actually, this isn't correct. First of all, they already have a working POS system, which can't be said about ETH. ADA already has a lot of strategic partnerships, for example the Ethiopian government, which is planning to use a licenced copy of the blockchain to store its students data. + +"ADA has been in development for years!" + +Yes, but so does any other crypto, ethereum is still in development, too. This is what makes it great. A working product is a less risky investment, but it also leads to less potential growth. IOHK is developing cardano slowly because they want to get it right and are backing it with research This approach is, in my opinion, the best possible one, as it should eliminate potential fatal errors before a full rollout. + +"ADA is only big because Charles is manipulating its community!" + +Charles is engaging with its community all the time, thats right. But he isn't shilling ada. Everything he says is backed by facts, the only thing he is doing is keeping the community updated on the project and providing transparency in the development process. In stark contrast to a lot of other crypto devs, which usually have limited community engagement, Charles is keeping the ADA community up to date, and I am thankful for that + +"ADA will never kill ETH" + +It doesn't have to. Multiple PoS chains can coexist, that's the point of decentralisation. Not being forced to use a certain service by a certain company. Charles himself never said that ADA is an eth killer, quite the opposite, he thinks ADA and ETH can co-exist + +I am really excited about the future of cardano because I think it is an amazing project with lots of potential. I will keep loading my bags with ada because I believe in it's team and technology + +But please take everything I said with a grain of salt, I am just a random person on the internet + +Edit: typo +https://medium.com/@vechainofficial/vechain-blockchain-solutions-to-enter-chinas-tobacco-industry-in-force-c92b3729878f + +VeChain’s blockchain + IoT solution to the 1st BAAS to enter China’s Tobacco industry by working with National level government body — State Tobacco Monopoly Administration and China Central Government owned China National Tobacco Corporation, via an exclusive partnership with NRCC. + +NRCC strategic business network includes some of the following: +State Tobacco Monopoly Administration and China Tobacco Corp. +Official Site: http://www.tobacco.gov.cn +Wiki: https://zh.wikipedia.org/wiki/国家烟草专卖局 +http://www.nrcc.net.cn/index/show/7/58 +Fuyao Glass +Official Site：https://www.fuyaogroup.com/en/ +http://www.nrcc.net.cn/index/news_show/7/711 +Beijing Automotive Industry Holding Co +https://en.wikipedia.org/wiki/BAIC_Group +http://www.nrcc.net.cn/index/news_show/7/695 +CapitaLand +https://www.capitaland.com/international/en.html +http://www.nrcc.net.cn/index/news_show/7/686 +Hisense Electronics +https://en.wikipedia.org/wiki/Hisense +http://www.nrcc.net.cn/index/news_show/7/675 +General Motors +http://www.nrcc.net.cn/index/news_show/7/671 + + +YUUUUUUUUUUUUUGE +$15,000 Bitcoin price officially breached on GDAX, not long after rolling through $14k! Again--congrats on this. Seriously. + +edit: Broken $20k USD on Bithumb... + +via https://cryptowat.ch/gdax/btcusd + +https://imgur.com/Vt3JElA - BTC rocket blasting! +I know TA isnt always well liked in r/ethrader but here is my bull case for eth. + +ETH is currently sat in the middle of a large symmetrical triangle \(much like Bitcoin\). While a symmetrical triangle can break in either direction my argument is for a breakout upwards. + +The target for this pattern is the height of the pattern which is top of $1430 \- bottom of $250 that gives us a $1180 target from breakout. That gives an estimated target zone of \~$1900. + +I have placed a Fib set running from the start of my bottom trend line at $84 to ATH at $1430. Using the fib extensions we get the 1.272 and the 1.618 \(this one being one of the more reliable fib extensions\) sat either side of the target zone. Assuming we break the 1.272 fib line i would certainly expect a test of the 1.618 line. Even if this is a short term blow off top. + +This is definitely a big call and would require huge amounts of money piling back into the markets \- however, i thought /Ethtrader needed some optimism in the absence of Scienceguy + +https://i.redd.it/76o33uf3t5211.png +*"We know who you are. I have reported it to the MoonPirate admin team and they are considering taking legal action against you. Yes, they have a lawyer who has helped every step of the way. And social media threats and mininformation make for A GREAT CASE in this day and age. Trust me, this is your first and last warning".* + + +3 months ago I came across a coin called MoonPirate, a coin based around rum/beer. It's a token that provided right to vote on a poll for what they should focus on next, but that's literally it. + + +I exposed them for having a fake address on their website, since I looked them up on Google maps and called the business that was actually listed at that address. I also exposed the fact that the rum was selling for $200 a bottle and that the guy running the coin literally had zero prior experience making alcohol. + + +I essentially just listed information from their website and got threatened with legal action. + + +Best part though? The mod in question stopped posting 4 weeks ago and Moonpirate has fallen over 93% since he sent that PM. + + +It sucks when people lose money. But its hard to sympathize with people who threaten legal action to stop you from sharing your opinions. +XXXX share holder here, I decided to call TD since my control # is still not available on my account. I have always found TD Ameritrade’s employees to be friendly and courteous. + +The gentleman on the other end, told me that they were getting bombarded by phone calls for GME control numbers, over the past couple days. He said that THEY were getting a “kick” from what the shareholders are doing. He explained to me that they have never seen shareholders call to get their control numbers, as most investors do not care about proxy votes. They think that THIS may change the market forever. 🚀🚀🚀 + +Good work Ape brothers and sisters. Please go vote! + +FYI to TD Ameritrade users: we will likely see our control numbers on Monday on our accounts. +I am paraphrasing here and forgive me if I am misinterpreting, but it seems that the common wisdom of increasing traffic lanes for a busy highway is that it would result in more/same traffic because it induces demand for cars to travel on the highway. + +Wouldn’t that same principle apply for increasing housing supply in a city? As in, it would eventually induce demand and thus lead to a point where housing prices do not decrease, similar to a busy highway? + +Help me understand the difference here. +When I was in school, it was financially beneficial for my fiance (25M) and I (26F) not to be married. I wouldn't have gotten grants/scholarships or even health insurance if we were married. Now that I've graduated, we are wondering if it is now financially beneficial. I've googled but haven't gotten clear answers. + +When I get a job, we should be making ~$150k or so combined. We will be making about the same starting out, but the gap should widen once I get more certifications in the next few years. Depending on where I get a job, we may be selling our current house and buying a new one elsewhere. (Though we bought the house together, only his name is listed on the documents.) We also don't plan on having kids. So we are wondering when is a good time, financially, to get married, if at all. Pros/cons? + +EDIT: This is a subreddit for financial planning, NOT relationship advice. Please keep on topic. "Marriage" is just a word to us and has no meaning. We're spending our lives together whether the government acknowledges it or not. + + +It's going crazy!! Just hop in on the tg and you'll see the hype!! + +Unique token that rewards it's holders with both - BAKE and CAKE. + +Simply buy, and get automatic BAKE and CAKE rewards automatically. + +You know the feeling when you cook something, eat it, and then it's gone? + +Well with BakeTheCake you get that back doubled. Not only you will get the rewards, but You also can do insane profits with this current meta coin. + +Plans for future: + +\-Announcing website after hitting 100k$ market cap + +\-Paid promos in legit Telegram crypto channels. + +\-Poocoin ads + +\-Meme contests + +\-CG and CMC application + +We have achieved already a lot by having awesome community that are here to hold with all the new members. We want those juicy rewards, and we want You to get them as well. + +Join our little community and see how powerful double yummy rewards can be! + +Voice chat is enabled and DEVS are talking to people who want to ask any question. + +💰TOTAL SUPPLY : 100B tokens + +💂‍♀️DEV WALLET: 2% + +LOCKED LIQUIDITY: [https://bscscan.com/tx/0x3a2988e94998f1939e5ac46e0104e2fb0539529d831b4899ccce22715658e25b](https://bscscan.com/tx/0x3a2988e94998f1939e5ac46e0104e2fb0539529d831b4899ccce22715658e25b) + +———————————————————— + +👩‍🍳BAKE REWARDS: 5% + +🍰CAKE REWARDS: 5% + +💯AUTO LP: 3% + +🌠MARKETING: 2% + +​🍰 Buy: [https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x8568aa55ac623ef26c68c5d714e47510fca62a3a](https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x8568aa55ac623ef26c68c5d714e47510fca62a3a) + +📝 Contract : [https://bscscan.com/address/0x8568aA55ac623Ef26c68c5d714E47510Fca62A3a#code](https://bscscan.com/address/0x8568aA55ac623Ef26c68c5d714E47510Fca62A3a#code) + +💩CHART: [https://www.dextools.io/app/pancakeswap/pair-explorer/0xd9b3d50386cbdca2bf562343fdf698d0af2a434a](https://www.dextools.io/app/pancakeswap/pair-explorer/0xd9b3d50386cbdca2bf562343fdf698d0af2a434a) + +☎️ TELEGRAM : [https://t.me/bakethecake\\\_official](https://t.me/bakethecake%5C_official) +There would be quirks with a new portal. Thought it's good if we have a dedicated thread where we can share the problems, workaround and something you like as well. + +\- Most banks launch a new portal and slowly migrate users to the new one, while keeping the old portal still active. This is what should have been done instead of a big bang launch. That would have avoided the embarrassment to the govt and the IT vendor, that was caused at the time of the launch. + +\- I was greeted with a page saying my profile is 75% complete. Didn't change anything, other than dropping my closed bank accounts. Now it shows the profile as 70% complete! By continuing to retain valid bank accounts how am I supposed to have dropped 5% information? + +\- The data migration of the bank accounts does not look proper. The accounts that were validated and enabled for refund processing are now shown as "not validated". Strange. Further all accounts are shown disabled for refund processing, whereas in the old system I did have an account enabled for refund. + +\- A certain bank account, which was validated in the old system, showed status as "cannot be validated" (no explanation whatsoever of why; leave alone explanation of what happened to earlier system's status as "validated"). + +\- For above case, it did provide an option to "revalidate". On clicking "revalidate" presumably the process to revalidate has been triggered. But the status still shows "cannot be validated". Now it's upon me to remember that I have made a validation request and wait for that status to change or is it telling me this status because the account can't indeed be validated (for whatever mysterious reasons that the system anyway doesn't tell us, but that apart). + +\- BTW the account details show only the bank logo, not bank name! If you have held accounts with multiple banks in the past, all those accounts would be lurking there and you have to identify them by only last 4 digits of account number and an overly tiny logo! I did face difficulty in identifying them. At least having the bank's name would have helped. + +\- This is not a problem as such, but another example of counterintuitive UI. If you add a bank account, it asks you to type your account number twice and when they match, it shows a pretty bold and prominent message saying the account numbers match and the message persists throughout the interaction. It would have been enough to just show a message if they don't match, rather than when they do match. + +\- It is highlighting differences (mostly just way of writing address or just case of the letters) between PAN and Aadhar details. Further it shows buttons that give you an impression that getting those details corrected is in the system itself. On exercising those buttons you are taken to respective portals to update those. PAN and Aadhar have historically been two different databases and now that their linking is mandatory, why bother the user with these minute differences? +Using a throwaway for safety. + +I have come into an inheritance in the form of a Trust worth $1.75M, this wealth is a mix of liquid cash, stocks, bonds, art, and real estate. + +The real estate however is a condo which must be sold. + +When all is said and done, I’ll have a $1.75M net worth. + +I currently have mediocre credit, and do not own any real estate of my own. + +I am searching for a way to maximize the use of this $1.75M and create a large stream of passive income. + +I could really use advice on the best way to go about purchasing property, renting that property out, and legitimately making as much money as possible. + +If you had $1.75M, how would you leverage it to make money in real estate? + +Thanks in advance. +Edit: Did not expect to get this amount of feedback. Appreciate all the responses. For those asking, I'm 34. I don't have kids and live with my girlfriend so we split the rent in a HCOL area. My job is also stable (from what I'm told lol) and I work from home for now. Job hasnt made a decision if it is permanent or not. I also have $30k in student loans from both undergrad and grad school, but have been putting the payments in a savings account until it's time to pay again. So technically, I have that $10k saved if loans end up being forgiven, but I'm not counting on it. + +I make $72,800 and am thinking $10,000 would be good for me. I only have $2,000 saved right now. + +After I hit my goal I can max out my 401k. Currently I'm saving 7% with a 3% match and am maxing out my Roth. +Interactive Brokers is probably one of the best brokers worldwide, but outside of the US (where the Free IBKR Lite account was available), one had to deposit at least 10k USD and there was a minimal monthly fee of 10 USD per month, unless your account value was above 100k USD. + +For many people (including myself, initially), this was an important reason to go to another broker, such as an Interactive Brokers clone (Banx, Lynx, Captrader etc.). + +According to the website ([https://www.interactivebrokers.eu/en/index.php?f=38234](https://www.interactivebrokers.eu/en/index.php?f=38234)), Interactive Brokers got completely rid of these requirements. I think this makes it very attractive for European and worldwide customers. + +Clarification (kudos to u/Vayu0): + +* IBKR usually charges 1 USD minimal fier in the fixed commission system: [https://www.interactivebrokers.eu/en/index.php?f=39753&p=stocks1](https://www.interactivebrokers.eu/en/index.php?f=39753&p=stocks1). +* However, there is a minimal fee of only 0.35 USD in the tiered commission structure: [https://www.interactivebrokers.eu/en/index.php?f=39753&p=stocks2](https://www.interactivebrokers.eu/en/index.php?f=39753&p=stocks2). + +*Disclaimer: I'm not affiliated with IBKR in any way and this post does not contain any promotions or affiliate links. Just want to share the good news.* +My HR at the company I work for contacted me telling me they did an internal audit and found I have no proof of degree on file for my position that 'requires a degree'. That's true because I never got my degree and said as much on my application and in my interview, In fact during my orientation they asked if I could provide a copy of my degree to which I said I have none just a HS diploma and they said that would suffice. All has been good for 3 years. + +Well now they're changing tune and want to reduce my pay by $5/hr. The kicker is, there are others within my dept that don't have degrees and they didn't get audited so their pay remains unchanged. + +I know an employer can reduce pay whenever and for whatever reason they want. My question is can they do it using a reason such as not having a degree but applying that condition selectively and allowing others to be untouched, and can they fire me with cause if I don't accept the pay cut that happens to only target me? + +Any help would greatly be appreciated as I've scoured google to not much avail. + + +**Edit** thanks everyone for the responses. Some genuine good advice here. Most of you are saying my company is poop and I should leave. I agree and have started to look for other opportunities. Maybe I can finally move to Texas! +Listened to Mark Ferguson’s ‘Build a Rental Property Empire’ and he briefly mentioned he opens an LLC for every rental property he purchases. Said something about how quick and cheap the paperwork is and one of his employees does it for him on the fly. + +Is this a thing? I understand the benefits of owning an LLC but an LLC for every single property? That sounds like a lot to me but Again I know nothing. + I thought a long-term perspective might be of interest. I first started buying MSFT in the 1980’s after graduating from college. + +In the 80’s you could buy anything and get rich. I think my first shares were in the $30’s. Everything was great until 2000 when the floor dropped out. + +My point is to highlight that for 14!!!! years from 2000 to 2014 my MSFT was dead money. Let me say that again - 14 years of nothing!!!!!!!!!!!!!!! + +I highlight this because all during that time I was confident MSFT would recover quickly but 14 years!!! is a long time to wait. I probably should have cashed out but I was too busy with work and family. Glad that I didn’t now. + +So, for newbies who have only seen a short recession with recovery in a year, I wanted to make them aware that sometimes that does not happen. + +[MSFT wad dead money from 2000 to 2014](https://preview.redd.it/6l78fubglv991.png?width=2776&format=png&auto=webp&s=1999618ebf1b720437cb1157c83dea3a317ca7c5) +It hasn’t felt like the best thing because your frustration and your sense of injustice were both strongly activated, and those are two of the most painful psychological states to bear. + +In behavioral terms frustration is the result of not getting the expected reinforcement from a repeated behavior. In this case smashing the buy button repeatedly is supposed to make the price go up. In training circles when a behavior stops being reinforced in any way it’s called extinction, and it’s the most effective way as a trainer to make an undesirable behavior from the subject disappear. + +But in the GME case a deep seated sense of injustice rose up at around the same time as buying behavior was being subjected to extinction, because anyone with open eyes saw and continues to see the market manipulation. + +So we had two potent psychological forces at work, one behavioral and one existential. While these forces both evoke painful feelings they actually worked in opposition to each other since repeated frustration compelled giving up, non-buying behavior while that sense of injustice compelled continuing the struggle buying behavior. I guess their sophisticated quants weren’t able to capture that duality. + +Obviously the buying behavior won out, and as we stand here on the precipice of the moass it’s worth remembering that while the emotions evoked may have been painful at times, rationally speaking what the opposition has put us through has only strengthened us and put the vast majority of shares directly into the hands of diamond handed apes. That knowledge should evoke joy and hope, not frustration or despair. +Hope this is on-topic. It's hard to get objective advice from people with numbers this big. I feel like r/fatfire can talk about $1M pretty objectively. + +Coincidentally, my father-in-law and I are both fatfire folks. I do pretty well making 7 figures, and he's retired somewhere in the $5-10M range. + +Me and the missus are moving from a paid off $1M house to a $3.5M house. We already paid the down payment on the new house, and once we sell the $1M house we're planning on putting that money into the market. + +However, my FIL comes from a culture that strongly dislikes debt, so FIL and MIL both want us to pay off the mortgage quickly. They're offering to give $1M on the stipulation that we also put the sale from our $1M house into paying off the mortgage, which would leave us with about an $800k mortgage. + +I should point out that I don't think my in-laws are trying to control or manipulate us at all. They are very supportive in general, it's just that us having an almost $3M mortgage makes them nervous and they're willing to effectively advance my wife's inheritance to reduce our debt burden if we match them. + +Relevant details: We haven't seen my wife's family in years due to covid restrictions. As such, they've missed a few important life milestones so I sense that this is also their way to show their support in absentia. Also, my wife is an only child and her parents have literally told her all this money will be hers one day eventually. + +Wife and I have mixed feelings. We're hoping to get perspective from fatfire folks on both sides of the equation: younger fatfires still grinding it out and investing, as well as from older retired fatfires who are looking to transfer wealth to the next generation. + +EDIT: + +I didn't want to make the post too long but: + +Pros: + +- Hey, I mean it's a million bucks +- Lower debt and pressure (wife doesn't work so the mortgage is entirely on my shoulders. The thought of being $3M in debt has been a tad stressful if I'm being honest). +- They aren't very investment savvy, so if they kept it then it would probably just sit in a bank account accruing low interest. At least if we got it, it would go towards a good cause rather than collecting dust. + +Cons: + +- My wife and I feel like they earned their money and we wish they would indulge themselves more, but they don't. They're very conservative with their spending. If we took it, then that would discourage them from enjoying their money even more. +- There's that (admittedly prideful/selfish) urge to feel like we "bought it on our own" +A lot of people on this sub are struggling. But I see the most generosity and kindness on this sub than in any other finance sub. + +I swear, when I visit personal finance, it's shocking how self-involved so many of the posts are. These are people with very high net worths. +Someone actually said once to me 'you don't get rich by giving it away'. + +Fair enough, but do you want to spend your life clutching at your wealth, so afraid to lose it, and that's all you end up valuing anymore? + +Most of the posts are just spewing numbers, people one-upping each other... + +The smugness of someone who has more than they need so screw everyone else is a theme in a lot of finance forums. It really sucks because there's good knowledge there too, but the smugness...the arrogance just weighs so heavily that I can't stand spending too much time there. + +It's strange how so many people feel they don't have enough, when they have a lot of wealth. In that mindset, I guess it justifies them never giving back or helping the less fortunate because there is no end-point for them. If they have 1 million, then they need 2 million really, for retirement to be realistic, don't you know? + +But I know here there's more people like me...if you make it out of poverty, you give back. You just do. Because you know what's it's like and what it felt like when someone helped you. You can't let wealth strip you of humanity, it's a bad trade-off 😔. + +Sorry about this post, it might be wine-induced. +My much younger brother in law is coming to visit me for a week and he is very eager to learn and for whatever reason seems to look up to me. He wants to learn more about investing and with my help already has a Roth IRA opened even though he is only in high school. But beyond getting a head start with savings/investments, what other advice might be useful for someone at that age? Like most students he is unsure what he wants to do, and I’d like to help him find what he is good at and what he enjoys doing. Maybe think outside the box rather than following the well traveled path. He’s not trying to “get rich quick” or anything silly like that, but truly wants to work his way up in life. Any advice would be greatly appreciated… + +A little more context: He’s played with drones in school. 3D printing. He’s athletic. Very hands on. Not the most studious. +were they the biggest reason for their success. I don't know much about Rennaissance Technology's history. I know the first crude models started with Leonard Baum which were then modified by James Ax, later modified by Berlenkamp, Strauss, Laufner etc. etc. until Brown and Mercer came and created a system based on speech recognition. that markets behave like speech recognition and machine translation (I could be bungling this up) +Hi all, + +This is the 2nd part of my r/asx_bets data analysis series, view the first part [here](https://www.reddit.com/r/ASX_Bets/comments/n14ii3/data_analysis_on_6months_of_rasx_bets_due/). + +I've continued to curate the most upvoted DD & Dumbfuck Discussion asx\_bets each week (since September last year), here's how they've continued to perform. + +**TLDR:** If only we could cash out at the very top since posted we'd be doing ok off these ASX DD posts after all! + +**Methodology** + +* see previous Reddit [post](https://www.reddit.com/r/ASX_Bets/comments/n14ii3/data_analysis_on_6months_of_rasx_bets_due/) (effectively I only include posts that had high upvotes in the week they were posted) +* There are now 85 DD posts included (since September last year) + +**Top due diligence posts based on maximum return since posting** + +This metric is for all the traders out there... it's the maximum return that could have been attained on a stock if you invested when the due diligence was posted on Reddit and cashed out at the highest price since then. + +1. [🥇](https://emojipedia.org/1st-place-medal/)[DOU - Douugh DD](https://www.reddit.com/r/ASX_Bets/comments/j5yx5l/dou_douugh_dd/) ([u/itsdankreddit](https://www.reddit.com/user/itsdankreddit)) **+600%** +2. [🥈](https://emojipedia.org/2nd-place-medal/)[DD time - Credit Intelligence (CI1)](https://www.reddit.com/r/ASX_Bets/comments/krj0eg/dd_time_credit_intelligence_ci1/) ([u/NocturneHS](https://www.reddit.com/user/NocturneHS/)) **+333%** +3. [🥉](https://emojipedia.org/3rd-place-medal/)[DW8 and why you should own it.](https://www.reddit.com/r/ASX_Bets/comments/lk4r65/dw8_and_why_you_should_own_it/) ([u/shadowpheonix2](https://www.reddit.com/user/shadowpheonix2/)) **+250%** +4. [Big Time Flexiroam (FRX) spruik including absolutely reckless amounts of DD](https://www.reddit.com/r/ASX_Bets/comments/lb804i/big_time_flexiroam_frx_spruik_including/) ([u/Helmacron](https://www.reddit.com/user/Helmacron/)) **+233%** +5. [NC6 is a gdamn beautiful stock - listen to my spruik](https://www.reddit.com/r/ASX_Bets/comments/j2g3yw/nc6_is_a_gdamn_beautiful_stock_listen_to_my_spruik/) ([u/Helmacron](https://www.reddit.com/user/Helmacron/)) **+188%** + +Further insights: + +* 9 other posts had returns over 100%. +* The median return from posting to maximum price since posting was 18%, and the average 55%... +* Interestingly, only 6 stocks were posted at their maximum, 79 went on to achieve a higher price after being posted at some point + +**Highest returning stock due diligence/ research posts to date** + +Stock standard return to today since posting (not to ATH like above) + +1. [🥇 Imugene (IMU) - DD](https://www.reddit.com/r/ASX_Bets/comments/mlu7y2/imugene_imu_dd/) ([u/badonkadonkthrowaway](https://www.reddit.com/user/badonkadonkthrowaway/)) **+ 156%** +2. [🥈](https://emojipedia.org/2nd-place-medal/)[FLN DD](https://www.reddit.com/r/ASX_Bets/comments/k7po95/fln_dd_now_we_can_start_paying_others_in_3rd/) ([u/ramzataztaz](https://www.reddit.com/u/ramzataztaz/)) **+ 112%** +3. 🥉 [ASX:IHL Incannex Healthcare Biotech/Medicinal Cannabis](https://www.reddit.com/r/ASX_Bets/comments/jz5jm8/asxihl_incannex_healthcare_biotechmedicinal/) ([u/Exalted\_HC](https://www.reddit.com/u/Exalted_HC/)) + **100%** +4. [DW8 and why you should own it.](https://www.reddit.com/r/ASX_Bets/comments/lk4r65/dw8_and_why_you_should_own_it/) ([u/shadowpheonix2](https://www.reddit.com/user/shadowpheonix2/)) **+83%** +5. [ANP - Antisense Therapeutics](https://www.reddit.com/r/ASX_Bets/comments/khyx1o/anp_antisense_therapeutics/) (u/[Tropical\_Chilli](https://www.reddit.com/user/Tropical_Chilli/)) **+62%** + +Further insights: + +* The average return is 0.05% (from date of posting to today) amongst DD posts included +* The median return was -0.51% + * These both mean investing in all posts that are voted an ok amount each week on Reddit probably isn't the best strategy...? + +**Lowest returning due diligence to date** + +* 😢 [Emerge Gaming (ASX:EM1) - A Final Word](https://www.reddit.com/r/ASX_Bets/comments/k9k7mh/emerge_gaming_asxem1_a_final_word/) ([u/neke86](https://www.reddit.com/u/neke86/)) **-73%** (note this **user posted some solid DD here** because the post was bearish on the stock) + +Hats off to all users above for your performance... let me know if there are any further analysis/ ideas to expand on this below. + +**Final note:** Obviously there's many limitations with this analysis... however it's cool to just see how Reddit DD posts have actually performed since being posted. +The number of people who come here asking for actionable real estate advice, but refuse to give the smallest detail is too damn high. A lot of new investors or people inherit property come and ask about out of state investing vs local investing. How the fuck are we supposed to answer that, if we don’t know where you live. The first question I ask when someone asks for advice is, “What city?”. + +This isn’t because I’m trying to stalk you so I can sneak into your house and sniff your underwear. Or because I’m going to try to find the house you’re looking at so that I can huff and puff and blow your house down. Yet, new posters will come in here guarding that information like it’s the map to the holy grail. + +I need to know where you live because every market is different. Are you investing in one of the Primary markets(LA, NY, SF)? Do you live in a growing market(Austin,Raleigh,Durham, Tampa Bay)? Do you live in a rural market? These different geographic locations have different strategies. You could pick up the top 10 best selling real estate investment books and not one of them will apply to a primary market. They won’t give you the tools and strategies to invest in a 4 cap market. + +People will ask if the 1% rule still applies. Sure it does, in a ton of different cities. But it hasn’t applied to NY,LA, SF since the 90s. And when it did apply, it was called the 2% rule because that was the expected return from your real estate investment. + +For me personally, 2 things are going to happen when you ask a **good real estate investing question**: + +I’m going to try to give you advice that goes beyond a real estate investment book. If you can pick it up from reading a Bigger Pockets book, then you don’t need to hear it from me. Like I just wrote in the previous paragraph, if you tell me you live in San Francisco and want to invest locally, I’ll know that real estate books do not apply to the local market. The closest cities that might apply will be: Fresno, Stockton, and some areas in East Bay. But I’m not going to find you and sniff your underwear(I don’t care how much crust and smegma you’ve saved up, I’ve been sober for 4 years and I’m not going to fall off the wagon, I've learned to resist the temptation). + +If you give me the city and I have time in my day, I’ll take a quick look on Zillow, Costar, and maybe citydata to get a temperature of the market. + +Since, i'm harping on you guys to give information. Here’s my data: I own 53 apartment units. The majority of them are East of Los Angeles in the San Gabriel Valley (4.25 cap market). I’m acquiring another 2 units this month and have plans in development to build another 10 units. I also own property in Central PA (7.5 cap market, workforce housing). +I like both markets for different reasons, they both have their advantages and drawbacks. If you tell me your personal goals and financial situation, I’ll also give you details on the specific +/- of different investments. + +I like talking about real estate. I hate answering repetitive questions or stuff that you really should be getting from a book. + + +TLDR: If you’re looking for actionable advice, be prepared to give us some additional information regarding your target market, goals, and financial situation. +I'm not ready to buy at the moment but I also don't want my money sitting in a low yield savings account. At the moment I'm not quite sure whether I'd prefer to pay cash on a 4plex or below or use the money for down-payment on something multi-family. Any suggestions on best places to hold this money? +**EverRise is the original & first ever buy-back hyper-deflationary token in the world.** + +The same way SafeMoon paved the way for thousands of other coins to introduce the redistribution to holders, EverRise is the first to introduce this Buy-Back feature on top of redistribution to holders. + +**EverRise is establishing the new standard of DeFi tokenomics with its innovative buy-back system and game changing use-cases. ** + +This traditional stock market concept is now revolutionizing the crypto world. In the stock market environment, BuyBack means buying back the shares of a company in the open market, which increases the value of the stock. + +**On the EverRise protocol, the tokens are bought back from the market, and then instantly burnt, increasing the investor's value.** + +Every transaction has a 6% buy-back tax. The tokens are converted into BNB and securely stored in our buy-back contract “The Kraken”, to be used later to purchase tokens from the open market and automatically burn them. This creates a true burn from the circulating supply that guarantees the price per token will increase every time the buy-back is activated. + +🔥**$10.8M USD used so far in strategic buy-back burns (18.9% of circulating supply)**🔥 + +The EverRise "Kraken" Strategic Reserves are deployed at specific moments to keep an uptrend going or break a downtrend. This is a game-changer and a true revolution in the crypto world: a coin that can reverse downtrends, and big insurance for investors and long term holders. + +**Holders are additionally "auto-staked" instantly receiving 2% of the transaction volume and you can watch your wallet grow in real-time.** + +EverRise is addtionally working on four dApps: EverOwn, EverLock, EverSale and EverWallet. Those projects will solve problems on the crypto industry and will be a source of revenue for the project and the holders. + +📄 **TOKENOMICS** 📄 + +* 6% Buyback tax, used for true burns immediate strategic upward effect on price +* 3% Marketing +* 2% Distributed to Holders + +✅ **ACHIEVEMENTS** ✅ + +* Listed on CMC, CoinGecko & Blockfolio +* 4K BNB Presale sold out in 10 seconds +* 65K+ Holders +* 34K+ Members on Telegram +* $45m+ Market Cap +* $10M 24hr Volume +* $2.5M USD "Kraken" Strategic Reserves (8K BNB) +* $10.8M used in Strategic buy-back burns +* Listed in 3 Exchanges: BKEX, LBANK & ZT Global (though buy on Pancakeswap 😎) +* Code audited by Certik and Techrate +* The most engaged community in the crypto world and the most trusted dev & team +* Big marketing wallet for non-stop promotion +* 2nd July NY Times Square Billboard +* Luna PR as agency of record +* Most searched token on CoinMarketCap https://twitter.com/CoinMarketCap/status/1411859090964467714 +* Donated $100,000 to Binance Charity Fund +* 11th July Btok ads in China started for 5 weeks + +🔼 NEXT STEPS 🔼 + +* Certik AMA with Doxxing on July 15th +* dApp EverOwn (Contract locking; allowing community vote to unlock if fixes need to be made) +* dApp EverLock (Liquidly locking) +* dApp EverSale (Pre-sales) +* dApp EverWallet (Wallet) + +✍️ Contract: 0xc7d43f2b51f44f09fbb8a691a0451e8ffcf36c0a + +🌐 Website: https://www.everrisecoin.com + +🐤 Twitter: https://www.twitter.com/EverRiseToken + +💲 Twitter Price Bot: https://twitter.com/everrisewatcher + +📢 Telegram: https://t.me/everriseofficial + +👾 Discord: https://discord.gg/EverRise + +📌 Reddit: https://www.reddit.com/r/EverRise/ + +📋 Certik Audit: https://www.certik.org/projects/everrise + +🔒 Liquidly locked for 1 year: https://dxsale.app/app/pages/dxlockview?id=3651&add=0&type=lpdefi&chain=BSC + +☀️ With #EverRise, we all $RISE together ☀️ + +*Note*: Make sure you are buying the correct contract! Easy way to ensure you are buying the correct coin is to switch on the "PancakeSwap Top 100" list: + +In pancakeswap when buying; when you choose which coin to buy switch on "PancakeSwap Top 100" in Manage Tokens to have the real EverRise (with icon) show up as an option and use 13% slippage. +Throwaway account. + +I'm in my early 40s, NW between $6.5-7M. I safely cleared my FIRE target ($5M) a while ago. My job (Big Tech) has become tedious and bureaucratic. I feel burnt out, bored, and frustrated. + +I'm sitting on about $2M of RSUs that will vest in the next two years (due primarily to stock appreciation), and then I will have a bit of a cliff. + +Do I stick around and phone it in for the next two years? RE now? Look for a different job? + +10 or 15 years ago, I would never have imagined feeling this way. At that point, this was a passion career, and $2M was an unbelievable amount of money. +Anyone else buying Apple for their dividends? + +CNBC Article: + +[https://www.cnbc.com/2021/02/23/apple-shareholders-meeting-2021-approve-tim-cook-pay.html](https://www.cnbc.com/2021/02/23/apple-shareholders-meeting-2021-approve-tim-cook-pay.html) +I don't get this place. + +There was a thread about someone who has 10 years living expenses in cash, it was only a portion of their portfolio, and they were wondering how best to invest it. + +100 comments, 83% upvoted + +Yet it is removed for not having anything to do with fatfire. + +Having 10 years expenses in cash is not something lean fire or FI is going to understand. + +What in the world are the unwritten rules you are using here for investing discussions related to fatfire? + +No wonder people want to split the sub. + +Edit: Thanks for the gold, and thanks to the mods for taking some action with the post flairs. +Hi, I'm 27. I've started my first job in IT a year ago. It pays decently and I have a good room for salary growth over the next years. + +I like my job but I don't want to be tied to an employer paying me each month so I can live. I want to be free to do whatever I want without being limited to vacation days and limited salary. My goal is that after 10-15 years, I'd have another source of income that replaces my salary and sustains a good life style where I don't have to worry about money shortage. + +Right now I'm saving around 45% of my salary. It's not in my nature to spend a lot. But I also don't wanna be frugal. I want to enjoy life and try all sorts of things. +I now live in Europe but I originally come from a third world country from a modest family which meant I spent most of my life deprived of a lot good life stuff and interests I wanted to pursue but lacked the financial means for it. So I don't wanna compromise for another 10 years on that front especially I'm practically beginning my life at such a late age. + +I looked into ways that will get me rich, and this is a list of what I thought of: + +* **Stocks**: I've only now started learning about investing. I previously had an idea that I could invest in stocks that yield high dividends which would replace my salary. But it turns out this could only happen after a long time (>25) of investing. I now understand that stocks are like a retirement plan more than short term way of getting rich. I wanna enjoy life now, not at 60 years old when I have no energy. + +* **Real estates**: I've encountered this idea of getting a loan, buy property, rent it, repeat, profit. It sounds simple but actually doing it, managing the expenses, maneuvering all the legal stuffs, finding the right place, seems like a lot of knowledge requirement and could mean I would drain my savings into a losing project pretty easily and be stuck with a big loan. If done right though, it seems like people are profiting this way. + +* **Open a business**: this is an interesting idea. I'm a mobile app developer and could potentially make apps and sell them without practically any capital. This is something I might do since I'm skilled at it. But I don't know if selling a few small apps will be really profitable unless they hit big which is rare. I'm not sure of say opening a restaurant or software development company for other clients for example. This requires a lot more knowledge, marketing, partners, managing people, legal maneuvers. Maybe I'm just being afraid of leaving my comfort zone though. + +That's pretty much the state of my mind right now. I'd really love it if someone enlightens me with other possibilities. I'm only now starting to think seriously about this, so I'm lacking a lot of knowledge before I can make any decisions. +Fidelity borrow fee increased last night. I like to think this is a great metric to use since Fidelity is a very large broker and many apes have shares there. Ortex has average rate around 8%. + +Additionally, there are now 21M shares on loan, up from 20M last week. + +According to computershared.net there are 22.5M shares left in the free float. + +21M shares on loan out of 22.5M shares available🤔 + +We are well on our way towards a historic squeeze. + +Keep buying, holding, and DRSing as usual, it's causing all sorts of problems for the shorts. +Tether has just 13 listed employees on LinkedIn. [Source](https://www.linkedin.com/company/tether/) + +There is just over $62bn Tether in existence, meaning Tether theoretically has $62bn under their control. [Source](https://wallet.tether.to/transparency?__cf_chl_jschl_tk__=569d26e948b27b5612065dd34dfe9d1938354e50-1624295546-0-ARnBckN33_gX9azsPbMvYz7d1-g0iQMRI5kgVph6MxVxO6N9RQwEEViCBi8c8tfeqoR9GfmcfKIQrvpBLJPOGuF5am6OiD4wD9ADI4UtAFgCy3g18lfsDJCUch-fe8qkslwVXEt-wl22zv0K3XTvlinHcWIiyPR9oFTJvqrDqPD-Y5iatCNQV50ut-jVrub9wflh2qoxbZsr7jVGWgL9akIGR9ekxfhLnx7FeYXCaQB-OY9_9OGuBhdHGDvrZxdvRyJwgq99SlSOs7BJUFVh6--irks2AyDI1CKXLtlPsFGfhyw-Sc2KInYgAw7zmeSizSMwQ1tidgDCIrlq6HAGx6JAH-X35JZi_dmhwlc4YR1Lnu3RT88QHnYS3pUmTFQFtTUF5UyXR5jiywwl-2GBcFAT5bQK5FS7wTLMjnX2xhb2) + +That is over $5bn in assets **per employee of Tether** + +If that seems comically low it's because it is. It's a world record for total amount of money managed per employee. + +The only similarly small number of employees for such a large amount of money under management was Bernie Madoff's ponzi scheme which had $50bn under management with just 25 employees. [Source](https://en.wikipedia.org/wiki/Madoff_investment_scandal) + +-------------------- + +What benefit is there to having such a low number of employees? Lower costs yes but with the money they control and need to invest surely it would make sense for them to have more than just 13 employees doing this? + +Or is it because it's easier for them to conceal fraud when there's only a handful of people being exposed to it and most of them have a large interest in keeping the fraud going. + +Tether has just under $30bn in commercial paper ([source](https://www.ft.com/content/342966af-98dc-4b48-b997-38c00804270a)) which makes it one of the largest US commerical paper market investors in the entire world alongside the likes of Vanguard (17600 employees) and BlackRock (16500 employees). **THIRTEEN EMPLOYEES EVALUATING THE CREDITWORTHINESS OF NEARLY 30BN IN COMMERCIAL PAPER LOANS AND WITHOUT THE OVERSIGHT OF AUDITING.** + +Remember: **Tether has never been properly audited, refuses to be audited and has been caught lying through their teeth multiple times** + +------------------- + +Does this not absolutely terrify anyone else? +I know you need to be consistent and all and not giving up. But i dont understand How some make SO MUCH like billions from it. Because alot of people i have seen on the internet have become rich but not crazy rich like 100 million+ or billionaires level. And thats why im curious How some do it? Inheritence? +I am a student currently doing research as to how US-China Trade War is affecting the US Economy. However i’ve been unable to get any data regarding how much of the US GDP is coming from China. +I have been working on the Ultimate Wargame Theory for almost two months now. Then today I had an aha moment: + +**I think what I’ve learned might explain RRPs and the role of Total Return Swaps (TRS) in the Gamestop saga and the global economic volcano.** + +This wargame short story will also serve as a foundation for what’s to come, because there is a lot to take in. For now, enjoy this theory on RRPs, TRS, and the full extent of what Apes are up against. + +**tl;dr:** + +1. I explain Total Return Swaps and how they potentially connect Gamestop to Reverse Repos +2. I open new possibilities for understanding short interest, how the game is played and prolonged, and shed light on new possibilities about the March event and May run-up. I'm hoping our technical DD wizards will take this information and run with it +3. I explain where the MOASS money comes from +4. I explain the mechanics behind this financial leviathan, and how it might explain why the market is so overleveraged as well as connect it to the arbitrage profit machine explained in [Where are the Shares](https://www.reddit.com/r/Superstonk/comments/nt8ot8/rip_uleavemeanon_where_are_the_shares_part_1/)? +5. I identify nearly 100 hedge funds connected by more than 1,500 securities since 1999, for the first time defining our enemy at its actual scale + +[https://preview.redd.it/6oydghxerza71.jpg?width=572&format=pjpg&auto=webp&s=a95ea83a119b8ca9c4d01bfe6f4f9fa1559a64b0](https://preview.redd.it/6oydghxerza71.jpg?width=572&format=pjpg&auto=webp&s=a95ea83a119b8ca9c4d01bfe6f4f9fa1559a64b0) + +A huge thanks to all the investigators and DD authors that have helped me make and confirm the connections I've found. There are too many to call out, and I'll link to the work of as many as I can find in these Ultimate Wargame posts. Everything we do here is built off our collective effort to uncover and understand information in a system that makes it very hard to do so. Much love to you all. + + +💎🙌💎💓🦍🚀🚀🌜 + +HomeDepotHank69 (RIP) and others suggested that Total Return Swaps might have something to do with the cycles we are seeing. I decided if it was important enough for Hank to mention it, it was important enough for me to look into. + +Being smoothbrained, I had to go learn what a Total Return Swap was (TRS). I learned everything I know about TRS from Investopedia, so I’ll drop links when I reference something. Otherwise, I’m going to try to ELIA as I go. I’m sure people will correct me if I’m wrong. + +I think u/Criand and u/broccaaa will be interested in what I’ve found as well, since it provides additional context for understanding the scope and possibilities available to the shorts. + +**What is a Total Return Swap?** + +Since it’s fucking up the market and could devastate the global economy, you’ve probably already guessed that it’s a financial derivative. First the definition, then a picture. + +[From Investopedia](https://www.investopedia.com/terms/t/totalreturnswap.asp): + +>A total return swap is a swap agreement in which one party makes payments based on a set rate, either fixed or variable, while the other party makes payments based on the return of an underlying asset. The underlying asset is usually an equity index, a basket of loans, or bonds. The asset is owned by the party receiving the set rate payment. + +* In a total return swap, one party makes payments according to a set rate, while another party makes payments based on the rate of an underlying or reference asset. +* Total return swaps permit the party receiving the total return to benefit from the reference asset without owning it. +* The receiving party also collects any income generated by the asset but, in exchange, must pay a set rate over the life of the swap. +* The receiver assumes systematic and credit risks, whereas the payer assumes no performance risk but takes on the credit exposure the receiver may be subject to." + +Here's my smoothbrain translation of that into an image. + +[https://preview.redd.it/6nnvzlhgrza71.jpg?width=1280&format=pjpg&auto=webp&s=e7de759b71a8013ad6e67a9102c3d1064914011d](https://preview.redd.it/6nnvzlhgrza71.jpg?width=1280&format=pjpg&auto=webp&s=e7de759b71a8013ad6e67a9102c3d1064914011d) + +Just a couple of things to know before we get to the meat of things. + +1. The **Asset** “is usually an equity index, a basket of loans, or bonds.” +2. The **Set Rate** is typically a combination of a fixed rate and a variable rate. It’s a bet, after all. The example on Investopedia uses LIBOR, which is very convenient for this theory. + +**How Does This Relate to GME? (My Theory)** + +I think at some point Kenny hatched a plan to double short his entire portfolio without reporting it *and get paid to do so*. + +The basic plan is this: Kenny bundles a bunch of stocks, including one or more that he believes will go bankrupt, and offers them to banks in a TRS agreement. Kenny gets paid if the Asset remains neutral (perfectly hedged), he gets paid *more* if the Asset depreciates, and he only loses money if the Asset increases more than the set rate. Kenny chooses stocks he can easily manipulate and sets up an algo to keep them balanced against the set rate. + +Let’s say the set rate is 2%, like in the Investopedia example. Kenny has basically bought himself a 2% cushion on his hedging, and he knows that he can drop the prices of many of these securities in order to stay net positive on the trade. PFOF helps him immensely with this, in addition to its many other nefarious uses. + +Ok, so why would the banks take him up on this? Well, for one, the set rate is often based on LIBOR, which had steadily been declining throughout 2019, and then crashed due to COVID-19 economic policies. LIBOR, again from Investopedia is "a benchmark interest rate at which major global banks lend to one another in the international interbank market for short-term loans." + +[https://preview.redd.it/9jlugywhrza71.jpg?width=1378&format=pjpg&auto=webp&s=73fd24ee33c3a57c9f5c0ea2053bd53ce84dbf7d](https://preview.redd.it/9jlugywhrza71.jpg?width=1378&format=pjpg&auto=webp&s=73fd24ee33c3a57c9f5c0ea2053bd53ce84dbf7d) + +Kenny doesn’t care that LIBOR is low, in fact that’s his lure to the banks. They get a cheap set rate against a low-risk Asset, who could refuse? + +Also, LIBOR is notorious for being used in [financial derivatives crimes in the U.S. since at least 1991](https://en.wikipedia.org/wiki/Libor_scandal). Kenny does like to collect and combine scams, doesn't he? + +Let’s take a closer look at it from both sides. (EDIT: Before we do, I want to link to [this series of comments that takes issue with my breakdown of TRS](https://www.reddit.com/r/Superstonk/comments/ojh2eh/ultimate_wargame_theory_the_beginning_total/h51wl41?utm_source=share&utm_medium=web2x&context=3). I'm too smooth and tired to figure it out, so for now I'm linking to the comment. If some wrinkles come in and clarify, I'll edit the post to reflect it.) + +[https://preview.redd.it/y8shajglrza71.jpg?width=1232&format=pjpg&auto=webp&s=29ed6398d3ffcf5fe8863a604c2a68ea9ab6ac27](https://preview.redd.it/y8shajglrza71.jpg?width=1232&format=pjpg&auto=webp&s=29ed6398d3ffcf5fe8863a604c2a68ea9ab6ac27) + +# Citadel (Payer) + +* **Owns the Asset (ETF)** + +Of course, we know it’s really “owns” the asset, but not very many other people know that, maybe nobody. Certainly not when this scheme was hatched. + +&#x200B; + +* **Collects income if the Asset depreciates** + +Who makes Assets depreciate faster and more reliably than Kenny? Not many people, that’s for sure! + +&#x200B; + +* **Takes on the receiver’s credit exposure** + +Now, normally banks are the ones with the credit exposure. They loan you money, and if you default on that loan the bank is out of luck. However in a TRS, the hedge fund takes on all the Asset’s risk. In this case, banks can bet on the long-term growth of the market against an already-hedged instrument from one of the most “solid” hedge funds around. + +&#x200B; + +* **Forfeits the risk associated with the performance of the Asset** + +This is an understatement here, because we know Kenny’s plan is to short some of these companies into oblivion. Remember the chart above, if the Asset depreciates, the banks have to pay Citadel. + +&#x200B; + +# Bank (Receiver) + +* **Collects income if the Asset appreciates** + +I don’t know if you know this, but stonks only go up. At least, that’s been the trend in the DJI and NDX for the past few years. Betting that a random bundle of, say, 50 stocks is going to appreciate over time is a good bet. + +[Dow Jones Industrial Average](https://preview.redd.it/gl6alynmrza71.jpg?width=702&format=pjpg&auto=webp&s=23dcb87651a3ba7da97c0074f2b5826b31da094e) + +&#x200B; + +[NDX Nasdaq 100 Index](https://preview.redd.it/1182gv6rrza71.jpg?width=1177&format=pjpg&auto=webp&s=21b611a1c27891af45d02b9d6f76386af7f1bbc3) + +* **Assumes systematic/market risk** + +This just means that if the market takes a shit, the banks are going to be on the hook for a ton of money because the underlying Asset is going to dump as well. Remember, the bank pays the SHF when the Asset depreciates. + +Also remember that in this way, the SHF has pawned off all the risk of the Asset depreciating. This is great if you’re planning to short companies out of existence. + +&#x200B; + +* **Takes on the payer’s risk of default** + +This just means that for the Asset in question, the owner (SHF) has no risk of default because the bank pays them proportionally when the Asset reduces in value. This is how the scheme becomes an off-book double shorting opportunity for Kenny. The banks are literally paying him to short his own holdings, and the more he shorts the more they pay. + +That was a lot, so let’s bring back the financial relationship chart and you can put it all together yourself. + +[https://preview.redd.it/mxffaaftrza71.jpg?width=1232&format=pjpg&auto=webp&s=38b16156efbeadb8647530fdc67db486be12761b](https://preview.redd.it/mxffaaftrza71.jpg?width=1232&format=pjpg&auto=webp&s=38b16156efbeadb8647530fdc67db486be12761b) + +**tl;dr:** In early 2020, Kenny thought he’d trapped the banks and planned to make a ton of money off them, no one being the wiser because it was hidden in ETFs with dozens of other stocks. + +It’s just like the Big Short, except with overvalued securities instead of overvalued mortgages. Kenny knew he had some “BBB tranches” hidden in with the A tranches, and sold them to banks in what seemed like a good situation for them but was in reality a double good situation for Kenny. + +I don’t think he was trying to blow up the banks, just executing some psycho plan he’d cobbled together from all the greatest investment scams of the past two decades. He wins big, the banks might win a bit or lose a bit, and all it takes is putting a few measly companies and their thousands of employees out of work. But neither side cares about that anyway, so they don’t look too closely. Of course, it's possible they're all in on it together. + +&#x200B; + +**So What Happened Next and How Could It Be So Big?** + +(Link Safety Notice: All of the links in the following section go to Superstonk or directly to filings on sec.gov) + +In [June](https://www.sec.gov/Archives/edgar/data/0001326380/000092189520001762/sc13da512166002_06122020.htm) and [August](https://www.sec.gov/Archives/edgar/data/1326380/000101359420000673/rc13da1-083120.htm) of 2020, Hestia Capital and RC Ventures buy large stakes in Gamestop (1.5% and 9.5% respectively) and the price stabilizes after a volatile period. + +On December 17th , RC Ventures [increases its stake to 12.9%](https://www.sec.gov/Archives/edgar/data/1326380/000119380520001571/e620151_sc13da-gamestop.htm). Let’s look at Gamestop’s chart for the back half of the year. + +[https://preview.redd.it/qmm4rfjvrza71.jpg?width=1407&format=pjpg&auto=webp&s=b37cceffe6027c68bcbbd759ae7464a70cfc1fa5](https://preview.redd.it/qmm4rfjvrza71.jpg?width=1407&format=pjpg&auto=webp&s=b37cceffe6027c68bcbbd759ae7464a70cfc1fa5) + +The next 13D filed by Gamestop was on January 10th, [outlining the provisions of RC’s agreement](https://www.sec.gov/Archives/edgar/data/1326380/000119380521000031/e620202_sc13da-gamestop.htm) with the current board. + +[https://preview.redd.it/clf49a6yrza71.jpg?width=1885&format=pjpg&auto=webp&s=394cd26915458dd203097b0fe976d3eb137406fd](https://preview.redd.it/clf49a6yrza71.jpg?width=1885&format=pjpg&auto=webp&s=394cd26915458dd203097b0fe976d3eb137406fd) + +I put the end date of RC's Standstill Restrictions at February 9th, which is 120 days prior to the first anniversary of the 2021 meeting. Had we found this earlier, maybe we would have voted Sherman out last month after all. RC just couldn’t say otherwise. Anyway. + +Let’s look at the 13Ds and 13Gs since: + +💎 + +On **Jan 26**, [Blackrock files an Amended 13D](https://www.sec.gov/Archives/edgar/data/1326380/000083423721001340/us36467w1099_012621.txt) showing that as of 12/31/20 it had: + +* 13.2% ownership (almost identical to RCV’s stake) +* \>5% “ownership on behalf of another person” + +That person? **iSHares Core S&P Small-Cap ETF**. + +Who names their kid that? + +💎 + +On **Jan 28**, Korean company Dooyong Kimeunmi Koo Must Holdings Inc files to let the SEC know they used to own more than 5% [but now own 0 shares of Gamestop](https://www.sec.gov/Archives/edgar/data/1326380/000119312521019848/d945183dsc13ga.htm). + +💎 + +On **Feb 8th**, Fidelity’s FRM, LLC [files ownership of 13.3%](https://www.sec.gov/Archives/edgar/data/315066/000031506621001050/0000315066-21-001050.txt), again very close to the percentages of RCV and Blackrock. + +On **Feb 10th**, FRM, LLC files to report [a reduction of its stake from 13.3% to 0%](https://www.sec.gov/Archives/edgar/data/315066/000031506621001389/0000315066-21-001389.txt) (they now own 87 tickets to the moon, down from 9 million). + +Huh. + +Also on **Feb 10th**, Vanguard Group [reports ownership of 7.4%](https://www.sec.gov/Archives/edgar/data/102909/000110465921018148/tv0931-gamestopcorpclassa.htm). + +But all of this is just background information, here is where things get interesting. + +💎 + +On **Feb 12th**, State Street Corp files that on 12/31/20 it [distributed its 3.5% stake across four of its subsidiaries](https://www.sec.gov/Archives/edgar/data/93751/000009375121000355/GameStopCorp.txt): SSGA Funds Management, State Street Global Advisors Ltd (UK), State Street Global Advisors Australia, State Street Global Advisors Trust Co. + +On **Feb 12th**, Senvest Management LLC files that [their 7.24% stake is now under joint control of their managing member, Richard Mashaal](https://www.sec.gov/Archives/edgar/data/1326380/000090266421001289/p21-0581sc13ga.htm). + +On **February 12th**, Donald A Foss, billionaire founder of Credit Acceptance Corp, [files that he has reduced his stake to 0%](https://www.sec.gov/Archives/edgar/data/901185/000110465921022073/tm216322d2_sc13ga.htm). + +On **Feb 12th**, Dimensional Fund Advisors LP files that [as of 12/31/20 it has a 5.6% stake](https://www.sec.gov/Archives/edgar/data/354204/000035420421000127/SEC13G_Filing.htm). + +Then it reveals this (which may or may not be boilerplate language for proxy voting, but is convenient for explaining things): + +&#x200B; + +[It's managers all the way down](https://preview.redd.it/lbr1dqx2sza71.jpg?width=1878&format=pjpg&auto=webp&s=a9267e1131004a08162074e491a18fe323dfca32) + +There it is. Six weeks into this research, and I’ve found a succinct, legal description of what we’re up against. Once we’re done with the filings, I’ll blow the whole thing wide open. + +💎 + +On **Feb 16th**, Susquehanna files that [their 6.3% stake is spread across three subsidiaries](https://www.sec.gov/Archives/edgar/data/1326380/000110465921023554/tm216465d8_sc13g.htm): Sus Fundamental Investments, Sus Securities LLC, and Sus Investment Group. Brian Sopinsky is the signatory for all three companies, as General Counsel, Secretary, and Assistant Secretary. + +On **Feb 16th**, Maverick Capital Management [filed that their 6.3% stake is spread across four entities](https://www.sec.gov/Archives/edgar/data/934639/000119312521044436/d120770dsc13g.htm): Maverick Capital Ltd, Maverick Capital Management, Lee S. Ainslie III, and Andrew H Warford. Mark Gurevich is the signatory for all four, by power of attorney. + +Same stake, same day, although the share count is slightly different for each. + +💎 + +There have been no 13D or 13G filings for Gamestop since Feb 16. + +Ok, but how does this link Gamestop to the entire global economy, much less RRPs? Well, because Citadel is a relatively new player in a much larger game. There may be hundreds of overleveraged funds all tied into the same network, each of which manages assets from billions to hundreds of billions. This is our real enemy. They are the Five Rings, and Citadel is just Ben Kingsley’s Mandarin. + +# Ultimate Wargame Theory: The Players + +In the [original Wargame Theory](https://www.reddit.com/r/Superstonk/comments/mvov2f/the_gme_wargame_a_new_theory_of_everything_my/), I lumped together Citadel and all its affiliated media, hedge funds, banks, and other allies as “The Bads.” My research over the past two months has now identified them more clearly. + +**I have examined the SEC filings of more than forty financial institutions going back to 1999, covering thousands of securities, and identified clear patterns that link them together and link them to the Gamestop saga in 2021**. I have correlated the movement of thousands of securities, and researched the people and places behind these companies to come to this conclusion: + +**We are not just facing Citadel, but a global network of banks, hedge funds, family offices, and other financial institutions who have created a de facto private stock market** and hold the fate of thousands of companies, trillions of dollars, and perhaps entire countries in their hands. I call this the Voltron Fund, but it is *not* a cosmic defender. + +[https://preview.redd.it/jcskiqp6sza71.jpg?width=486&format=pjpg&auto=webp&s=946e8cd8f39d5f30c39257fea63da175a17f3072](https://preview.redd.it/jcskiqp6sza71.jpg?width=486&format=pjpg&auto=webp&s=946e8cd8f39d5f30c39257fea63da175a17f3072) + +This monster is completely divorced from normal market mechanics because of its interconnectedness. **I believe there is a universal algorithm, Voltron’s Sword, managing the assets not of one of these companies, but all of them.** If one institution needs net capital, they get it from another with room to spare. If they need a loophole, they transfer the problem to a type of institution that can bury it in different loopholes and regulations. Sometimes they just ship it offshore, to a regulatory black hole like Luxembourg, Bermuda, or the Cayman Islands. + +Maybe what we're seeing [around net capital days](https://www.reddit.com/r/Superstonk/comments/ny2ov4/a_revisit_to_net_capital_what_is_truly_driving/) isn't buy-sell pressure from Citadel, but the entire fund moving assets to balance one another's books. We aren't fighting humans, we're fighting the wealthiest, most powerful algorithm in the world. + +**We don’t need to bankrupt one of them, we need to bankrupt all of them.** + +With respect to OP, I also don't think Citadel is [absorbing the liabilities of smaller funds](https://www.reddit.com/r/Superstonk/comments/o5z8vc/working_theory_the_shf_white_square_that_just/) that “go bust.” I think it is balancing the assets and liabilities of the entire network using HFT to put out fires wherever they arise. That’s why funds are reporting reducing positions and heavy losses rather than margin calls or liquidations. They share thousands of individual investments among themselves, as shown on the 13Fs, and can move them whenever and however often they want since they have an in-house market maker and banks with fully aligned portfolios all over the world. + +**This also gives them a functionally limitless common pool of stocks to manipulate for arbitrage profit.** + +I’ll be publishing more analysis as fast as I can write it, but for now I want to focus on the scope of what we are up against so that future analyses of things like Total Return Swaps and RRPs can take into account the scale of our enemy. + +# “For Now We See in a Filing, Fastly”: How I Identified the Voltron Fund + +Like many of you, I have been frustrated by Reddit’s constant connection problems over the past month, but it wasn’t until the weekend of June 26-27 that my DD-sense was triggered. Superstonk was barely working, or not at all, **yet between June 24-27 redditstatus on Twitter did not update once to make people aware of the problems.** On top of that, I couldn’t find any evidence that it was a widespread problem. + +Reddit’s servers are run by Fastly, which had suffered a meltdown around June 8th that had some Apes wondering if Citadel was behind it. redditstatus was all over it, as they were for problems on the 21st, the 24th, and the 29th. Yet, between the 24th and 29th they said nothing about the CDN problems that Superstonk users were experiencing. Obviously the problems have continued unabated, but only for Superstonk as far as I can tell. + +I remembered that someone had commented about [Citadel recently taking a stake in Fastly](https://www.reddit.com/r/Superstonk/comments/nv1cbp/citadel_almost_quadrupled_their_amount_of_shares/), so I wondered whether the stake was large enough to gain precise control over Fastly’s servers. And if it was, how and why? + +**First Discoveries** + +My first stop was Nasdaq.com, which is a great resource for tracking institutional ownership between the quarterly 13F and 13G filings. I looked up Fastly, clicked institutional holdings, and sorted by “% Increased.” + +I spent many sleepless nights looking at every SEC filing for everyone listed on the first two pages of results going back as far as they go back, and I found so much crazy shit. I encourage you to go look around, and have advice for doing so at the end of this post. + +The first thing I found was an amazing correlation between the portfolios of all of the following companies, who I have since come to understand as correlated to the Voltron Fund. + +&#x200B; + +[https://preview.redd.it/glwli0k9sza71.jpg?width=1542&format=pjpg&auto=webp&s=0bf1ff1a7b0864ed0c3a1410dc2f588f600157a9](https://preview.redd.it/glwli0k9sza71.jpg?width=1542&format=pjpg&auto=webp&s=0bf1ff1a7b0864ed0c3a1410dc2f588f600157a9) + +This doesn’t even include the Abdiel Global Management fund, which [took a 29% stake in Fastly in 2019](https://www.sec.gov/Archives/edgar/data/1508239/000119312519227993/d791811dsc13da.htm) and continues to move Voltron-affiliated stocks around between its various funds as recently as June. Abdiel is registered in the Cayman Islands, but run out of New York by a former Goldman Sachs employee, and is correlated in many other ways. + +Let’s just say that at this point Citadel is Fastly and Fastly is Citadel. + +&#x200B; + +>**Build Your Own DD #1:** I’ll get into how one of Fastly’s new board members is connected in a later Ultimate Wargame story, or you can try to beat me to it by figuring it out first! + +&#x200B; + +I thought I had found a good portion of the network in this filing, and that the network had come together sometime between 2015 and 2017. I was wrong on both counts. I have traced the beginnings of the Voltron fund back to a specific filing in 1999, although I don’t think Citadel becomes involved until around 2015. + +For now I’m going to focus on the timeframe of 2015 to the present, because I think that’s where our part of the story starts to take shape. I am leaving out a few pieces of information and connections, because they belong in other wargame stories, but this should be enough to establish the interconnectedness of the Voltron Fund. + +**Second Discoveries** + +While following the [trails uncovered by the Wargame Theory II](https://www.reddit.com/r/Superstonk/comments/ng4ja0/wargame_theory_ii_the_mother_of_all_fud_moafud/), I came across two hedge funds started in 2018 by Citadel employees who quit to start them: Candlestick and Cinctive. (One of them is Steve Cohen's brother-in-law.) It was here I first noticed the connections that would lead me to Voltron, but it wasn’t until the Fastly connection that I understood how to dig in to find it. + +The method is simple, and I encourage you all to dive in and find more connections as well as verify mine. I know there are more, but I had to stop at some point to tell you all what I had found. + +A 13F-HR is where a fund discloses all of its holdings, so a typical section will look like this. + +&#x200B; + +[Who are all those flowers for, Kenny?](https://preview.redd.it/71wfj7qbsza71.jpg?width=1538&format=pjpg&auto=webp&s=020299b5a8b9f88daf7da8b28ffce8ebe81725a0) + +And for a while that’s where I was looking, because I couldn’t believe how well these portfolios were coordinating (I’ll have a separate post detailing some of my findings). But then I started looking at the Cover Pages for the filings, and that’s where things got REALLY interesting. Remember Dimensional Fund’s explanation above? + +&#x200B; + +>“Dimensional furnishes investment advice to four investment companies, serves as investment manager or sub-advisor to certain other commingled funds, group trusts and separate accounts (such investment companies, trusts, and accounts collectively referred to as the “Funds.” + +Now, they’re talking about voting rights and beneficial ownership, but what I want to focus on is the fact that they “furnish advice” and manage investments for other companies as well. You can find such relationships (when they’re properly marked) on the Cover Page of a 13F filing under two categories, which are on two separate parts of the page: Included Managers (IM), and Other Managers Reporting (OMR). + +In fact, here are all the interesting things you can find out from the cover page of a 13F: + +* The address of the company +* The address of the Compliance Officer signing off on the form (often different) +* Other Managers Reporting (OMR): +* Other Included Managers (IM): +* The number of different investments +* The total value of those investments + +For example, here’s the Q1 2021 cover page for Advisors Asset Management, an absolute lynchpin: + +&#x200B; + +[Sorry for the whitespace, I didn't feel like fixing it](https://preview.redd.it/3x78qciesza71.jpg?width=920&format=pjpg&auto=webp&s=54b3c89ea01ade234303433468773fdd8c830ff5) + +Managing $6.5 billion right outside Austin, TX, [location of so many data centers affiliated to the Voltron Fund](https://www.reddit.com/r/GME/comments/mhyv94/connecting_the_puzzle_pieces_the_failed_bet/)? Wut doin'? + +I’m going to end this section with a list of funds that my research has turned up. I make no claim to know their affiliation, only that they show up on one another's public 13F filings as managers and/or share a common pool of thousands of investments. A few things to keep in mind: + +* I have investigated only about half of this list, so there may be some unaffiliated names included. However, no name is included here if it did not have some connection back to the master portfolio. +* Remember, too, that this is by no means the entire list, and most of these companies have multiple affiliates just like Susquehanna, Dimensional, State Street, and Maverick showed us above. +* This doesn't include Bads that show up in these filings such as Apollo Global Management, Virtu, L Brands, and Axa. +* This doesn't include affiliated banks, which will be covered in a future post. A few of them rhyme with Coldman Snacks, Cheddar Swiss, Sploitch. I guess you can see that and more on the Fastly filing. +* Also, who knows how many of the [$10 trillion in non-reporting family funds like Archegos](https://www.afr.com/wealth/investing/archegos-and-the-10trn-world-of-family-offices-20210406-p57gtp) there are in the mix? (Link goes to an article on the Financial Review website) + +Want to know who's going to pay for the MOASS? + +# The Voltron Fund + +Abdiel Global Fund + +Advent Capital Management + +Advisors Asset Management + +Affinity Investment Advisors, LLC + +AH Lisanti Capital Growth LLC + +Apex Capital Management (Dayton, OH) + +~~Archegos~~ + +Ativo Capital Management, LLC + +Bahl & Gaynor + +Blueshift Asset Management + +Brown Advisory LLC + +Brown Capital Management, Inc. + +Campbell Newman Asset Management, Inc. + +Candlestick Capital Management + +Channing Capital Management, LLC + +Chicago Equity Partners, LLC + +Cinctive Capital Management + +Citadel + +City National Rochdale + +Cooke & Bieler, LP + +Decatur Capital Management, Inc. + +EAM Investors, LLC + +Edgar Lomax CO/VA + +Exchange Traded Concepts + +ExodusPoint Capital Management + +Fiera Capital Inc. + +Fortaleza Asset Management + +Fourpoints Investment Managers SAS + +Glacier Capital + +GlobeFlex Capital, LP + +Glovista Investments, LLC + +Greenoaks Capital Partners + +Group One Trading + +Hanseatic Management Services, Inc. + +Hartford Investment Management + +Herndon Capital Management + +Hightower Advisors, LLC + +Holland Capital Management LLC + +IFP Advisors, Inc + +KG&L Capital Management LLC + +Lombardia Capital Partners, LLC + +Managed Asset Portfolios, LLC + +Mar Vista Investment Partners LLC + +Matarin Capital Management, LLC + +Melvin Capital + +National Asset Management, Inc + +Nicholas Investment Partners, LP + +NorthPointe Capital LLC + +Oakbrook Investments LLC + +Opus Capital Group, LLC + +Paradigm Asset Management Co LLC + +Phocas Financial Corporation + +Piedmont Investment Advisors LLC + +PNC Capital Advisors LLC + +Point Break Capital Management + +Point72 + +Redwood Investments, LLC + +Reinhart Mahoney Capital Management Inc + +Seizert Capital Partners LLC + +Simplex Trading LLC + +Stackline Partners LP + +Steward Partners Investment Advisory, LLC + +StoneRidge Investment Partners, LLC + +Strategic Global Advisors, LLC + +Susquehanna + +The Edgar Lomax Company + +Thomas White International, Ltd. + +Twin Tree Management, LP + +Two Sigma Investments, LP + +Vision Capital Management, Inc + +White Square Capital + +Zevenbergen Capital Investments LLC + +&#x200B; + +**Primary Industries Represented by Holdings** + +* Biotech/Biotherpeutics (had to misspell for automod) +* Cloud Computing and Servers +* AI +* Semiconductors +* Business Data +* Transportation, Shipping, and Logistics +* Pharmaceuticals +* Healthcare Data +* Energy Production +* Food Production +* Communications Media +* Commercial Real Estate +* Residential Real Estate +* Chinese ADR/ADS in all of the above + +It's much, but it ain't honest. + +**Total Assets Under Management?** My guess, in the tens of trillions. Some of the funds manage $30-50 billion themselves, and there's at least $10 trillion completely off the books in family funds according to the Financial Review article I linked earlier. + +[https://preview.redd.it/evwbhsrhsza71.jpg?width=455&format=pjpg&auto=webp&s=0b3ea9d2f6b4263aaa739b76fdb44cf1d5374236](https://preview.redd.it/evwbhsrhsza71.jpg?width=455&format=pjpg&auto=webp&s=0b3ea9d2f6b4263aaa739b76fdb44cf1d5374236) + +# Conclusions + +I think this research gives us a clearer picture of how certain things are possible, like hiding 2,000% short interest. + +I think it gives us a clearer picture on how the whole thing is funded, building on the work of [Where are the Shares](https://www.reddit.com/r/Superstonk/comments/nt8ot8/rip_uleavemeanon_where_are_the_shares_part_1/) and others. Citadel makes profits *in several ways* every time a stock is traded, so I think they can basically print money by moving stocks around between funds to take advantage of arbitrage. Depending on the particular need, they can move it between hedge funds, market makers, banks, and family offices at will. There is always a buyer and always a seller, and the terms are what benefits the whole. Two companies might do a trade where both lose if it means strengthening Voltron itself. This is not a rational system, it is a shadow economy sucking the real economy into itself through bankruptcy jackpots, hostile mergers, busting out, PFOF shenanigans, and outright fraud. + +**Speculation:** I think they do the same thing with options, which is why buying them for any stock in the shared pool is a sucker's game. They are in control of thousands of stocks, and manipulate them all for maximum options advantage. + +It isn't just about whether or not GME will hit its options prices in a given week or on a given security. The Voltron's Sword algo looks at options across their entire portfolio and maneuvers the stocks for maximum profit and minimum damage. The more you buy, the more information they have, and the more they can use options to manipulate the game. We know options expiries for one stock that we own, they know them for thousands of stocks that they own. + +If you want to see how connected this is with media, see the Widespread Manipulation teaser below. + +It's possible that we live in a completely fraudulent system. + +&#x200B; + +**Bringing It Back to RRPs and Total Return Swaps** + +These companies can just make shit up and call it an investment. **What would happen if I owned, say, four million GME and spread it out between four different companies?** + +Four times as many derivatives contracts! Four times as much leverage! + +And **what happens to banks on the other end of these swaps when the Asset (GME bundle)** ***appreciates*** **instead of depreciating like everyone assumed they would?** + +Every single exposed fund has to start pumping cash into the counterparty banks. + +This may explain why we didn’t see an end of quarter spike last month, because RRPs have already been increasing steadily basically since the March runup. Is there a connection? Here’s a totally speculative theory: + +&#x200B; + +* The shorts got hidden in January by the Married Puts and other mechanisms we have identified, but that’s the last time that was going to happen on that scale +* The Voltron’s Sword algorithm determines that someone needs to go, and so Archegos gets the call (remember, [Archegos is a biblical term meaning “a sacrifice, one who goes first,”](https://www.reddit.com/r/Superstonk/comments/ng4ja0/wargame_theory_ii_the_mother_of_all_fud_moafud/)) and that causes the March runup +* While they’re waiting for the Archegos fallout to appear, the Voltron Fund fragments its holdings and prepares to use a series of Total Return Swaps to keep the price under control when it shoots up as a result (similar to how they shut down January, but through a different mechanism) +* Right after that, in mid-March, is when RRPs start to rumble and they’ve been basically growing ever since, as the TRS’s leak more and more cash into their counterparty banks. By sacrificing Archegos and keeping the price steady, they have been able to draw out the charade much longer +* They keep the price flat and money flowing through HFT shenanigans between members, and they keep the shorts hidden using TRS swaps and non-reporting family funds + +This would explain the low borrow rate and reports that they are low because there is no interest in borrowing GME. They have been borrowing and shorting as part of the strategy, but the main thing keeping them alive is spreading massive leverage over trillions of dollars AUM and dozens of companies so that every company in the fund is at least $0.01 in the black. They're mostly using their own shares to manipulate the price, it's just that before we didn't know all the places we had to look. + +**I'd wager a guess, based on this research and how they seem to do things, that every single institutional share not accounted for actually belongs to Citadel through the Voltron Fund.** + +They will take pieces off the board here and there (Archegos, Citadel Luxembourg, White Square Capital) just to maintain equilibrium across the entire fund. I believe the May runup *might* have been a result of Citadel Luxembourg closing and Glacier Capital absorbing some of its positions, I have a post on that incoming as well. + +**Whew.** + +I hope this will give some of you a lot to dig into while I finish up different pieces of this project. I also hope I’ve inspired you to look into some of this yourself, if only to verify what I’m saying. I started this entire project by triangulating the Q4 2020 assets under management of three of the companies on the Fastly list. Take your pick and report your findings so we can put more pieces together. + +I know this been a lot to take in. It took me six weeks, tendonitis in my mouse-clicking hand, and several nervous breakdowns to put it together (mostly joking). I will spin out some of the implications of the Voltron Fund in future posts, including how I accurately identified two stocks that would begin correlating with GME last week by re-opening the investigation into Glacier Capital. + +Another post will show that our investment media environment is as completely fabricated as the stock market itself. + +I hope this first Ultimate Wargame story has convinced you that we are up against far more than Citadel, but the fundamentals haven't changed: + +**Buy and Hold, and love one another and the world around you. We are going to be alright, we are going to win, and we are going to have a chance to forge a better future for ourselves and the world.** + +I look forward to continuing this conversation with you in the comments. + +💎🙌💎💓🦍🚀🚀🌜 + +Blanderson +Tesla on tweeter announced a plan to split stock. It is seeking investor approval in the next general meeting. However, no further details was given, no mention on the meeting date, or the split ratio. + +Also today, due to COVID restrictions in China, Tesla gigafactory in Shanghai will be shut for 4 days. It has already shut for 2 days in mid March. Current estimate is the factory could produce just over 2,000 vehicles per day ( output in Dec 2021 was 70,000 for the month). So that is over 12,000 less cars to be shipped in March. + + +If you think a stock split has a bigger impact on the market, then congrats, you are right. Although I'm considering throwing all my financial books down the toilet at this point. +I imagine corruption as a way to lose meaningful value due to some form of theft, faking or lying. Not necessarily illegal corruption. Then I could imagine a model where a free market has a natural deterrence effect. But a free market with lots of aggressive competition may not be optimal for economies of scale, which may be a significant loss of value too. Even worse with commercial wars. + +How do things balance out. Are there complex models for this, maybe even computer simulations? + +Please give mostly technical answers. I want to respect the no debate or minimal debate rule. Corruption can be a sensible issue. +"While today's action is taken in the context of the coronavirus pandemic, it was not be driven by the impact of the pandemic. Rather, the pandemic amplifies vulnerabilities in India's credit profile that were present and building prior to the shock, and which motivated the assignment of a negative outlook last year,” it added. +I’m currently in a lot of debt and executing a plan to pay it off and begin my path to financial independence. The problem is everyone around me (friends and family) keeps discouraging me claiming it’s a fantasy. It’s discouraging and sometimes I Second guess myself. + +Edit: Wow guys I’m overwhelmed with all of the encouraging posts! Thanks everyone for the support. Ill definitely be around to share my progress! +We've been getting submissions about the candidates economic policies. They're worthy of discussion, but we also don't want political content displacing other economics content. So we're trying two sticky megaposts. One for Clinton's plan, one for Trump's plan. This way we can have a discussion on candidates policies without overrunning the sub, like we did with [the economic analysis of Bernie's plan](https://www.reddit.com/r/Economics/comments/46sx5a/bernie_sanders_economic_proposals_megathread/). + +##Official Candidate Site + +* [Economic Vision: Winning The Global Competition](https://www.donaldjtrump.com/positions/economic-vision) + +##Analysis and Comparison of Plans + +* The Economist: [Trump's Plan For the Economy](http://www.economist.com/news/leaders/21704792-republican-nominees-ideas-economy-are-thoughtless-and-dangerous-scrimping-sense) + +* Time: [Trump Economic Plan Analysis](http://time.com/4444632/donald-trump-economic-plan-analysis/) + +* Tax Policy Center: [An Analysis of Donald Trump's Tax Plan](http://www.taxpolicycenter.org/publications/analysis-donald-trumps-tax-plan/full) + +* Moody's Analytics: [The Macroeconomic Consequences of Mr. Trump’s Economic Policies](https://www.economy.com/mark-zandi/documents/2016-06-17-Trumps-Economic-Policies.pdf) + +* Committee for Responsible Federal Budget: [Analysis of both candidates](http://crfb.org/sites/default/files/CRFB_Promises_and_Price_Tags.pdf) and [Executive Summary](http://www.crfb.org/papers/promises-and-price-tags-fiscal-guide-2016-election). Covering debt as a percent of GDP, growth assumptions or tax increases, and a policy cost scorecard. + +* NPR: [Comparison of Plans](http://www.npr.org/2016/08/13/489761605/how-did-trumps-and-clintons-economic-policy-speeches-compare) + +* WSJ: [Economists Who’ve Advised Presidents Are No Fans of Donald Trump - Real Time Economics](http://blogs.wsj.com/economics/2016/08/25/economists-whove-advised-presidents-are-no-fans-of-donald-trump/) +##Fact Check + +* NPR: [FACT CHECK: Donald Trump Unveils His Economic Plan In Major Detroit Speech](http://www.npr.org/2016/08/08/488816816/donald-trump-looks-to-turn-the-page-on-bad-week-with-economic-speech) + +* WSJ: [Fact-Checking Donald Trump’s Speech on the Economy](http://blogs.wsj.com/economics/2016/08/08/fact-checking-donald-trumps-speech-on-the-economy/) + +##Other + +* Bloomberg: [Here's the Economist Whose Ideas Guide Trump](https://www.bloomberg.com/view/articles/2016-08-01/peter-navarro-is-the-economist-whose-ideas-guide-trump) + +##Resource Recommendations + +If you have any other articles on Trump's economic plan, please post here or [PM me](https://www.reddit.com/message/compose?to=geerussell&subject=Trump%20Megathread%20Suggestion) and I'll get it into the body. Articles must be written by an economist, rely heavily on analysis by an economist, or include simple fact checking. +Lets make a few things clear. + +First of all, market bubbles don't last weeks. Dotcom lasted 3 years and had a market cap of 2 trillion dollars, ONLY coming from the stock market. Crypto is open to everyone, all around the world (not just the United States) and is much easier to invest in than the stock market for the average Joe. + +The hype started about 5 weeks ago. Yes we had good news from the EEA, but that alone won't create hyper speculation- which hasn't started YET. There are events that are coming that will definitely bring us above the 1000$ per ETH price. Events such as Raiden, Metropolis, Sharding, more ICOs, countries actually starting to produce their own cryptos and much much more that we are not aware yet. Once we surpass btc market cap, a lot of capital will pour in thanks to media hype and much more. The bubble will only start when we become as popular as bitcoin to the average citizen. You can compare google graphs and see by yourself that we are not close to the same hype that bitcoin has gotten from the previous years. + +Beside, we have much much more fundamentals than any other crypto. Don't forget that ethereum is not a stock issuing company, so the price per ether is not valued depending on how much money Ethereum generates or by how much it will generate, its a completely new concept that we have yet to adapt to. This is not the US stock market, this is international. So a 1-2 trillion market cap for crypto is not only "possible" but even probable. Hell, we are only 40k subs in ethtrader and the hype is only starting yet. Be patient ans you won't regret. + +This is coming from somebody who has been through the 2013 bitcoin crash- and everything is different now. + +To add, yes there will be corrections, don't get me wrong. It's possible and hell, even NORMAL, to see 20-30% corrections in crypto but it's also easy to get back to previous levels. All in all, the demand for ether is only projected to increase in the following months. So be smart, don't panic, stay rational and enjoy this opportunity. Take sometime off the screen once in a while and think about other things. + +This is addressing to the newer people in crypto especially +I make 504 every week. (470 at the beginning of every month due to union dues) 223 car payment and 196 insurance and 70 for concert ticket payments. I have until December to have as much money in my savings for my wedding. Any advice? Around 400 I'd need to save to have the most by Dec? + +EDIT: ITS 10K. Not 20k. + + +The LunaDoge token ($LOGE) takes the deflationary tokenomics of Safemoon and fuses it with the novelty of Dogecoin. LunaDoge operates just like SafeMoon, Shiba Inu, Elongate, and Moonrat with regards to a quadrillion dollar token supply and deflationary nature. + +LunaDoge is a fork of MoonRat and SafeMoon. Both projects have been audited by CertiK, assuring users that there is no backdoor in the code for the team to scam its investors. $LOGE is currently in it’s infancy and is only available on PancakeSwap🥞. + +Why does this token have Moon potential??? + +✅Hold and Earn + +· Every transaction incurs a 10% fee · 5% distributed to hodlers (LOGE will automatically get added to your wallet) · 5% permanently added to liquidty creating a steady rising floor Anti-Whale measures · Transactions greater than 0.5% of supply rejected to prevent Whale manipulation + +✅Liquidity Locked + +· Team tokens (24% of total supply) locked using third party provider DXSALE · Team tokens RE-LOCKED as of May 5th · 15% for 6 months, 5% for 3 months; 4.7% for 14 days which will be re-locked again · 1% burn every 2 weeks to a dead address which will create an ever decreasing supply of LOGE + +✅100% Community Driven + +· LunaDoge is fully transparent · Whitepaper · All team and LP tokens have been locked · Every trade automatically contributes to generating liquidity + +✅Bi-weekly Token Burn + +· Every second week the team will burn 1% of total $LOGE supply from their own tokens · This coincides with team token re-locks + +✅Marketing and Branding + +· They have a growing community on Telegram, Twitter, and Instagram (links at the bottom) · This is a key element in the success of any product · The graphic design team has developed an appealing logo · Community contests such as a meme competition (running until May.8th) · They've partnered with multiple influencers to build brand awareness + +✅What’s in the Pipeline? + +· Coinmarketcap listing (pending) · Coingecko Listing (pending) · External audit · Website updates · LunaDoge Mars Program · Cross-chain integration · Token farming · Partnership rollout · Community growth + +This team has continued to demonstrate their commitment to the LONGEVITY of this project and have continually increased my investment confidence through their actions! Its holders are put first and that seems to be a rarity given the recent landscape of startup projects. + +Do your own DD and let me know what you think! Hopefully we’ll take a ride to the moon together 🚀 + +[https://lunadoge.finance/](https://lunadoge.finance/) +Hey all, I wanna know what do you guys think how should I plan my life. Specifically, where should I move to be in the best financial opportunity. + +I (M22) am an electrical engineering and computer science student from a Balkan country in eastern Europe. I've been into crypto and investing for many years now. My current net worth is approx. $2000 which is about two median monthly salaries where I live. + +The thing is that I have very ambitious goals and ultimately want to be financially independant ASAP. It is very common for everyone here in Balkan to immigrate to Germany, Austria or similar countries to work in construction and other typical blue collar jobs, although many are higher educated as well and find much higher paying jobs. + +I love to do extensive research about other countries around the world so the most important metrics I've found to be most informative are GDP per capita, median salary, human development index (HDI), purchasing power index, cost of living index, quality of life index and so on. Most often the best all-around countries tend to be Switzerland, Denmark, Norway, Sweden, Finland, Netherlands, Germany, Ireland, US, UK, Canada and Australia and some others like Qatar, Saudi Arabia, Singapore, UAE and New Zealand. + +Honestly, what attracts me the most is Los Angeles. My dream is to have a big ass mansion in Malibu where I would live permanently with my future family, but at the same time have houses/apartments in many other parts of the world as well like Las Vegas, Phoenix, NYC, London, Amsterdam, Australia, Tokyo, Seoul, even Africa... But also in small towns and rural areas where I could disconnect in nature and enjoy the wonders of our beautiful planet. + +As you can probably conclude by now, I have crazy and maybe overly ambitious life plans but I know everything is possible if you work towards it. Heck, even if I achieve 5% of this that will be fucking amazing. + +How do you suggest I go about doing this? Which countries are the best for high tech industry and financial independence? Maybe first move to Germany and then to US in my 30s? Or some other way around? If you were in a similar situation, what is your life story and what would you do differently if you could start over? + +(also if you have career path stories and/or advices, I would LOVE to hear it) + +TLDR; where to live in the world for most moneyz? +I genuinely think allowing those sort of shitposts only serves to distract us from GME. It also does nothing but give the MSM and SHFs a way to manipulate us. If they know we'll lap up that sort of content, they'll give us that content and tweak it in a way to slowly break our morale. We know they're at it, we don't need to rant here about it. + +I've learnt shit tons from the DD here, and there's so many hilarious memes and shitposts I've seen about things that have been learnt in the DD. But seriously, it's getting a bit too much now, IDGAF about Pelosi. If I wanted to, there's another sub I'd go to. I really think we should keep this place focussed on GME. + +Edit: + +So it's clear there's a lot of folk that agree with me. And a lot of spammy comments disagreeing, and one or two more intellectual comments from apes. + +Here's a thought. If you're posting here, and you don't have any gme, and nor do you intend to buy any gme, then fuck off. I think that'd probably sort out our current problem - a lot of spammy, angry, capitalism hating bums using superstonk as their platform. + +To those suggesting I don't understand how it's all related - I've been here since we migrated from gme. I've learnt through the DD how intertwined it all is. I don't need your spammy shitposts, you do - take them elsewhere please! + +Edit 2: Basically, all you antiwork folk - I'm not against your cause, in fact I'm for it. But take your shit to other subs. We don't want it here. +Praise be to Yeshua + +#ETH-USD Trading Update #2 + + +##This is the second update regarding the ETH-USD trading activity on June 21st, 2017. You can read the first update here. + + +##GDAX is just over two years old and has grown to become one of the world’s leading digital asset exchanges. We launched our first version of margin trading earlier this year and have generally seen strong customer demand and positive feedback. + + +##Our long-term ambition, however, is to be a leader among all exchange platforms and we are committed to serving as the most trusted provider to the world’s largest institutions and professional traders. We are confident that all trades this week were executed properly, however, some customers did not receive the quality of service we strive to provide and we want to do better. + + +##We will establish a process to credit customer accounts which experienced a margin call or stop loss order executed on the GDAX ETH-USD order book as a direct result of the rapid price movement at 12.30pm PT on June 21, 2017. This process will allow affected customers to restore the value of their ETH-USD account to the equivalent value of their ETH-USD account at the moment prior to the rapid price movement. + +##To clarify: +- For customers who had buy orders filled — we are honoring all executed orders and no trades will be reversed. + +- For affected customers who had margin calls or stop loss orders executed — we are crediting you using company funds. + +- We view this as an opportunity to demonstrate our long-term commitment to our customers and belief in the future of this industry. We will follow up directly with affected customers about this process next week. + +https://blog.gdax.com/eth-usd-trading-update-2-216a3b946ef6 +Not a shareholder, but the price has come so low that even if it goes to zero(which is unlikely)that I might just buy some. I know all about the VIE risk, delisting risk, geopolitics etc., but even then the price rn is worth the uncertainty. + +I was going through their quarterly earnings and something that I do not understand is that their income has gone down by 86% this quarter because of an impairment of goodwill relating to their Digital Media and Entertainment group. I understand that this is a non-cash expense, however management did not provide any further details regarding this in the earnings release or earnings call. I am interested because it means that the asset which has been impaired has lost significant or all its future earning power, which affects future cash flows. If someone could provide some insight into which asset this was and why this asset's goodwill had to be impaired, it would be helpful. + + +PS- Many people seem to be randomly commenting about the stock. It would be helpful if you could answer the question I asked and then add something else, if necessary. +How do you guys feel about Charlie Munger's opinion that we are at or near our apex as a great civilization? Warren Buffet, in the same interview, voiced a contrasting opinion that he believes America will always come out on top. Who do you think is right? Buffet? Munger? + + +One of the most important aspects of investing: Don't try to time the market. Many tried, and they failed. + +A few quotes from well-known investors on the subject: + +"I do not know of anybody who has done market timing successfully. I don't even know anybody who knows anybody who has done it successfully and consistently." (Jack Bogle) + +“The only value of stock forecasters is to make fortune-tellers look good." (Warren Buffet) + +"The market timer's Hall of Fame is an empty room." (Jane Bryant Quinn, author, columnist) + +"There is absolutely no evidence that anyone can time the market." (Bill Bernstein, author and advisor) + +"If I have noticed anything over these 60 years on Wall Street, it is that people do not succeed in forecasting what's going to happen to the stock market." (Benjamin Graham) + +"Market timing is a wicked idea. Don't try it -- ever." (Charles Ellis author of The Loser's Game) + +"Market-timers are circus clowns minus the funny suits. Even when they dodge the bear market, they inevitably miss the ensuing bull. Their track record is terrible." (John Rekenthaler, Vice-President of Research for Morningstar) + +The list goes on... +Yeah that’s right, I fucking said it. + +I’ve noticed the FUD campaign has been shifting lately, It’s shifted towards calling al you retards actually retarded for buying GME at it’s height. While yeah, buying high and selling low is actually retarded, I am not disputing that. + +But what I’ve noticed is that no one seems to be mentioning the fact that Robinhood (and by extension the DTC) LITERALLY HIT THE ‘OFF’ SWITCH ON BUYS. That’s fucking right it was a great play before 28/1 even at 300 or 400. (If you bought at 300 after 28/1 you may actually be retarded) + +The FUD campaign (or general memory loss from all the weed stonks) has made most of you forget that WE WERE FUCKING ROBBED. + +Never forget that GME is not over. + +Never forget that we were ROBBED of millions of dollars, not only in evaporated gains, but in actual investments with hard earned cash. + +20@226$GME 26/1 + +Edit: DTC + +Lots of people seem to be understanding this post as saying GME will go up diamond hands etc. This is not what the purpose of this post is. + +The purpose of this post is to make people remember that this was not fair play. + +If all you retards calling me retarded and delusional could learn to fucking read, that be great. + +Edit 2: + +As a response to all the arguments that it wasn’t a great play purely based on the fundamentals. + +It was never about the fundamentals in the first place, it was a risky bet based on the incoming short squeeze that was purely stopped dead in it’s tracks because of the RH/DTC restrictions. +**TA;DR: Computer man makes computer translate Hedgie speak. Look at pretty graphs with Emojis.** + +**TL;DR: I made a python script that summarizes and translates market maker signals into English. I made graphs of what today looked like.** + +# 0. Intro + +Market maker signals have been talked about before, and had the kinda "trust me bro" vibe, so i set out to test if the thesis was true. + +Not all apes have access to the L2 data, and it can be cluttered to look at and translate. Well these signals are made by a computer so it is only natural a computer would be the best one to translate it to human. + +I made a script in Python that gets data from Webull (Level 2 and trades) it then looks for known signals, logs them and prints them to the terminal. + +At first I just streamed it so you could see it "real-time" to Youtube (Here is today [https://www.youtube.com/watch?v=BV4dzS4Qfks](https://www.youtube.com/watch?v=BV4dzS4Qfks)), someone on twatter suggested I log them and post the results here. + +# 1. The signals and their meaning + +[https://otc.financial/list-of-market-maker-signals/](https://otc.financial/list-of-market-maker-signals/) + +https://preview.redd.it/1py1rd0tbku81.png?width=742&format=png&auto=webp&s=1780559f0710b7df96dfa60947992a8cc7e14b22 + +I have the L2 data laid out like this: + +https://preview.redd.it/yfxi0bcceku81.png?width=640&format=png&auto=webp&s=566e6a9871d6e742d4c8af524725780c310de46c + +They update live, and change periodically through out the day. When there is a run you usually see 700's(move the price up) and then 1000's(Don't let it run) when they want to kill it. + +Above that I have the trades coming in and they are translated into English, whenever they send a 600 signal(Apply resistance at ASK) the price usually doesn't rise above/below that. + +https://preview.redd.it/ewkflgitfku81.png?width=636&format=png&auto=webp&s=f09cd2475b13732637df02fba59729da50ace6a3 + +Most of the time it is just 100's(I need shares also a standard lot) and 200's (I badly need shares) so I don't log these because they always need shares. + +# 2. The graph + +I used the trades I had logged and plotly to make a nice graph, x is time, y is price, the candles are 1m. I did not include all the signals in the graphs below to keep this from getting too long. I apologize that some signals are hard to see, i am a programmer not a designer. + +The nice thing about plotly is that you can export it as an HTML file and host it somewhere, sorry the link looks shady but it is intractable [https://csb-81vzf0.netlify.app/](https://csb-81vzf0.netlify.app/) + +Full graph with all the signals. + +https://preview.redd.it/vmordy26iku81.png?width=1920&format=png&auto=webp&s=8e11c77173f75bbb580e0365ecd82bcda001a217 + + +Here is the 300's (Take it down) + +https://preview.redd.it/5ph5reztgku81.png?width=1920&format=png&auto=webp&s=3314bf7623712230320fa4e48f3cd3567afc2124 + +The 400's (Trade it sideways) + +https://preview.redd.it/4ll0zs9zgku81.png?width=1920&format=png&auto=webp&s=d2285617a77c3e530599760da7eb85ba5e9baa19 + +The 500's (Gap the stock) + +https://preview.redd.it/ddly4b39hku81.png?width=1920&format=png&auto=webp&s=d5b0bba435650c202fbec8525de39530e16f6927 + +The 600's (Apply resistance) + +https://preview.redd.it/wnazrbpdhku81.png?width=1920&format=png&auto=webp&s=c6873b261e72993046ba1f0dac9829375cc830e9 + +The 700's (Move the price up) + +https://preview.redd.it/v76w9uylhku81.png?width=1920&format=png&auto=webp&s=cf858d506cb52daf847a03429964123b035309b2 + +The 1000's(Don't let it run) + +https://preview.redd.it/5hifb4kqhku81.png?width=1920&format=png&auto=webp&s=be11db7f3e444a24c41dda10cefd5ea5f8cd1ad4 + +I am still hoping that i will see some 911 signals and then some news to really confirm if these signals actually work. + +# 3. Conclusion + +I think they track pretty well what is going on with the stock, although some signals are ignored, they seem to tell the stock what to do. It may be chance, and i am not good enough at coding to say if it is. + +Of course the signals follow the price, they are trades so they kinda have to, but it what comes after them that counts. + +I will continue to stream this on Youtube, and if people want i can post these graphs daily. + +If you guys have any suggestions or feedback, it is more than welcomed! + +Mods: I don't know if this is DD so that's why i chose that flair, feel free to change it if you feel it should be something else <3 +3 days ago a check for $1900 was deposited into my account. I figured the bank had just messed up but when I called and asked about it they said they didn’t see a problem, and that it was my account number on the check. The check was mail deposited without a completed deposit slip. There is no recipient name, just the senders name which I do not recognize. + +I asked what I should do and the guy I was talking to and his supervisor said to wait about 4-5 days, and if the check clears the money should be mine. ??? Why would they tell me this when I’ve told them I don’t know where the money came from? What do I do? + +Edit: I do have access to a picture of the check. A couple things: It isn’t hand written, my account number is clearly printed on the check. under “pay to the order of” it just says my bank name, I also don’t recognize the name or address of the sender. It’s from a completely different state. The number for the bank the check came from is also on it. + +I think I’m going to wait a bit to see if it clears. If that happens then I’ll probably call the number on the check and ask about it. For sure will not be sending anyone any money, if they want it back they’ll have to reverse the check. +I’ve spent enough time on this sub to recognize that the group as a whole is trending in the direction of favouring useless posts that provide no insight of knowledge being prioritized over technical, quantitative, and knowledge rich posts. + +Your job as a trader, if there is even any here at this point, is to make money. Not to read some feel good post that gives you confidence because that confidence will get shutdown real fucking quite by the market I can promise you. + +I see several recaps, analysis’s, trade ideas, etc etc that are valuable and spark a discussion based progression of learning and correcting conceptions or misconceptions of this job. They get downvoted, they get ignored, and the absolute gutter dust pile of shit motivational or guru posts get upvoted like there’s no tomorrow. You guys eat that shit up and dig a nice deep hole in the dirt for all the useful information that people generously provide. + +What sparked me to address this is because I provided an insight on a strategy I’ve been using and recap analysis of a trade I executed with said strategy; that is now 50% upvoted and continuously getting downvoted throughout the day. + +Why? There’s no reason what so ever. Don’t believe me? Go check it out, or don’t; I’m not promoting it I really don’t care. But if you do check it, you can see there is no misinformation or any justification behind the downvote rate. Just pure strategy description and Q&A, because nobody likes to post their strategies for some reason but there is plenty of people who like to see them and the process behind them to get a grip. I know I did when I first begun. + +This isn’t the first time I have seen this, this however is the first time it has happened to one of my posts, this is not because of my post. This is because it’s happening daily to people similar of me who outreach to communities to assist and get met with the giant overshadow of “I yolod all my money and got 100k return” ROB HOOD picture of pure luck and no insight to such trade whatsoever other than the picture of profits. + +Or better yet the top awarded posts of “RisK ManaGEmenT SepERates tRAdiNg fRoM GaMbLInG” dogshit posts that also provide absolutely nothing but some guru type mindset that you guys eat up??????????????????????? + +Oh don’t even get me started at the magical quotes highlighted in trading books that are posted onto this sub with nothing but the quote providing quite literally nothing but a waste of brain power and time. + +Make it make sense. + +Edit: most of you are taking this well and I appreciate that since it may have been aggressive or condescending as very few have mentioned. I take your criticism, however it is generating lots of discussion on how this sub should look and how it should be managed; while sparking several various points of views from different levels of traders. So with that I do not regret my presentation of words. Thanks. + +Edit 2: whoever gave me gold thanks you have the title of awarding me my first award on Reddit. Whoever gave me the money award you are second on the podium. Thanks lol. + +Final words: no more awards. Podium is full, good race guys. In all seriousness though thank you. + **New Website - New Logo - Bogged Ads just started - First Audit done - Almost 1000 Holders - Big next steps starting behind the scenes - dont miss this out** + +Welcome to BongWeedCoin, it has been 10 days since we launched, achieved and completed key steps for us to cater to everyone who are looking to earn, stoners who can’t puff puff pass to their homies from cannabis illegal states/countries and even non-stoners who are aboard with the same interest as this community. + +**OUR TOKEN INFO:** + +* Contract : **0x66696ab8c6aaeb22dc14a2dc4a833682388ea901** +* Pancakeswap (V2) : [https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x66696ab8c6aaeb22dc14a2dc4a833682388ea901](https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x66696ab8c6aaeb22dc14a2dc4a833682388ea901) +* 50% BURNED : [https://bscscan.com/tx/0x2c456db6c6578f1f9b6cd1f3095b25789fbc5dfde901bf523ef3ba13a7877beb](https://bscscan.com/tx/0x2c456db6c6578f1f9b6cd1f3095b25789fbc5dfde901bf523ef3ba13a7877beb) +* LP Locked : [https://dxsale.app/app/pages/dxlockview?id=0&add=0x23238A34C54E115a4bC0b39729165e9c791De532&type=lplock&chain=BSC](https://dxsale.app/app/pages/dxlockview?id=0&add=0x23238A34C54E115a4bC0b39729165e9c791De532&type=lplock&chain=BSC) +* Ownership RENOUNCED : [https://bscscan.com/tx/0xa245b5b29e519bf04236c7c81e8a93fbdfed07dd23d4fc328bca738dff2b3405#eventlog](https://bscscan.com/tx/0xa245b5b29e519bf04236c7c81e8a93fbdfed07dd23d4fc328bca738dff2b3405#eventlog) +* ​Current Website: bongweed.info +* TG: [https://t.me/bongweedfinance](https://t.me/bongweedfinance) + +Achieving worldwide legalization seems like a shot to the moon (pun intended) but that is without a doubt what cryptocurrency can do to empower activists like us, like you. + +We are not just another weed 420 blaze it bullshit token that has been overdone a thousand of times, we have confidence in branding our token as the **“World’s First Marijuana Legalization Token”** so DYOR plays a huge role in this. + +In a world where all of us have witnessed how shallow meme-based-cryptocurrencies are shooting to the moon, we can just imagine the possibilities if purpose driven tokens were to achieve the same success, this is why it is also a part of mission to show and voice out our support for other purpose driven communities like us. Change is possible. And it starts with you. + +For almost the entire century the world began to put attention into the Marijuana Narrative, we started to witness all the benefits of Medical Marijuana, we are slowly starting to react to big pharmas campaigns against it, we witnessed how some states are starting to embrace and regulate both medical and recreational use of Marijana, how the cannabis culture shaped our current pop-culture, how mistreatment of unregulated cannabis lead to bad publicity, how illegal states resorted to more illegal activities surrounding cannabis that caused more common misconceptions, how illegalization further promotes Alcohol abuse, how Alcohol abuse has brought nothing but deaths, violence, family toxicity, the list goes on. And lastly; **How the world silently grieved from all the loss of life and violation of human rights with the ongoing war on drugs.** + +**Our purpose driven ongoing projects and (to be discussed) ideas:** + +* (Ongoing) Informative but dank social media accounts to promote cannabis positivity, and memes! ofcourse, weed memes will be there. +* (Ongoing) Listing down Cannabis legalization organizations for us to donate with and for us to possibly to form partnerships with. +* (Ongoing) Influencer search, pushing and funding content creators to promote safe medical marijuana and possibly safe and healthy recreational use all over the world. +* (TBD) Cannabis brand search, looking into startups and established prospects to support our cause. +* (TBD) Ways to send out carefully proposed formal educational campaigns for medical marijuana targeted specifically at gov't and healthcare firms all over the world, country per country, city per city. +* (TBD) And lastly, work on publishing several weed cookbooks, weed / accessory shops, our own bong designs and merch. + +**Our Token and marketing related completed, ongoing projects and (to be discussed) ideas:** + +* (Completed) Coinhunt listed +* (Completed) Poocoin ads running +* (Completed) Bogged Ads running +* (Completed) Coinmarket applied +* (Completed) CoinGecko applied +* (Completed) Joint Rolling video contest, 4 Winners announced with bnb giveaways done. +* (ongoing) 300$ Meme Contest +* (Done)Twitter account startup followed by 100$ giveaway to random follower. +* (Ongoing) Shilling Content creation contest a.k.a Meme contest up in this subreddit! STILL UP from the time posting this, 72 hours deadline! +* (Completed) Full website relaunch, with detailed write-ups and complete revamp. +* (Ongoing) Whitepaper “Grean-leaf” being written and constantly reviewed amongst devs and mods. +* (Ongoing) Instagram account fresh startup +* (Ongoing) Subreddit page fresh startup +* And many more stuff done and ongoing + +**JOIN OUR COMMUNITY!** + +* Telegram: [https://t.me/bongweedfinance](https://t.me/bongweedfinance) +* Twitter: [https://twitter.com/Bwc\_legalize\_it](https://twitter.com/Bwc_legalize_it) + +***We are doing everything organically and community driven as much as possible, please don’t hesitate to bring up ideas and leads for us to achieve pitch perfect executions of our plans. Change starts with you. Small fun ideas, to lucrative ideas, we are all ears.*** + +**We can do this, till we can finally PUFF PUFF PASS TO OUR HOMIES WHO CAN’T!** + +**Till we can all get HIGH…. Wait for it…..TO THE MOON!** +This isn't a bash thread, I've been seeing a lot of "just starting out", "where should I put my first $1000", etc and I'm genuinely curious why you're looking to start out in dividend stocks? Why not invest in growth stocks/ETFs that hold them and then when you hit your goal, sell and move into dividend stocks? Even reinvesting the dividend probably won't get you to your goal passive income stream as fast as just investing in ETFs/index funds and then moving into dividend stocks. Again, not hating on dividend stocks myself, I own 10k in QYLD/O/T in my Roth with them reinvesting (once they get back in the green I'm probably going to move them into VOO/VTI), but my question is why is your portfolio starting out in dividend stocks? +For anyone living under a rock, Mt Gox was the first large bitcoin exchange and robbed thousands of people of millions of dollars before going insolvent. + +Another fun cozy fact: Mt Gox had over 1.5B USD in stolen BTC remaining since dissolving. Settled for 400mm USD with disgruntled investors. As an aside, Mark Karpeles, former owner of Gox, ends up reportedly collecting over 800mm USD from defrauding customers. + +For more info: + +https://twitter.com/dfiebsy/status/971500131303542784 + +Fast forward to today and, well, that settlement was distributed out from December to end of February and the trading activity was unraveled fantastically by Matt Odell on Twitter here: + +https://twitter.com/matt_odell/status/971374555603324928 + +The best eye candy in all of this is this chart documenting the liquidated settlement BTC in correspondence with nearly every pullback experienced within the time frame of their tranches of sell offs from start to finish: + +https://pbs.twimg.com/media/DXs4OekXcAYyg5b.jpg:large + +It's a hard pressed argument to deny this at least had a hand in the 2018 correction. Who better to cause it than Gox? +I have almost all of mine in VWRP however I thought I would have a punt into crypto since i beat myself up for not getting on the bitcoin and Etherium train long ago. + +I went with cardano, Etherium, polkadot and enjin and put £200 in each which I didn't feel was too much and I'm looking at a 10 year hold. + +Ofcourse everyone's attitude to risk is different. I have 50k in my ISA and £800 in crypto. I guess I'm wondering what other people's attitudes to risk is towards crypto now that meta and the metaverse along with web 3 are now not going anywhere. Particularly when people who previously trashed it on wall Street are now in it. +Am I going crazy or is there an increase in the "I'm \*insert age under 24\*. I have 100k in the bank and don't know what to do?!"? I'm all for advice on questions but these posts aren't really asking anything. They just feel like flexing contests at this point. +Would you rather retire at age 38 with an annual retirement income of $125k, or at age 44 with $250k? Or wait until 50 and retire with $500k per year? + +How should one decide when it is time to retire? If I were to ask the regular FIRE reddit this question most would answer that I should calculate how much income I *need* in retirement. But I want more than the bare minimum. I tried estimating what my expenses will be during retirement, but who knows what hobbies and tastes I will have a decade from now. + +Should I just pick an arbitrary number? I'm curious how other users here chose the right balance between income and retirement age. +Good day everyone, + +I know I am a bit too late to the party but I have been following this group for a while and I can't think of a better place to ask this. + +I just turned 29 and I have finally managed to reach a stage where I can spare some money for the future. So far I just have 1 FD ( very meagre), 1 LIC jeevan anand plan worth for 25 years. That's all. + +If I try really hard I can spare 15-30k per month for investment, please help me with the following : + +1) How much per month is ideal? +2) What path of investment should I take? +3) How would I be getting the best returns in the long run with least tax implications? + +I am very new to all of this so detailed advice would be appreciated. + +Recently, I've heard a lot about Index funds on here. Is it good? Which one? + +Thanks in advance 🙏 +&#x200B; + +https://preview.redd.it/bzrrwebn4hw71.jpg?width=700&format=pjpg&auto=webp&s=5c0153a1ef2a3d26cf4ace7126812e9751b6505e + +*This is one of a series of posts where I will apply my fast and dirty historical fundamental analysis to some of the biggest dogshit stocks of 2021. If you are interested in the process I use below to evaluate a stock, check out* [How Do I Buy A Stonk???](https://www.reddit.com/r/ASX_Bets/comments/lzjpvf/how_do_i_buy_a_stock/) + +# The Business + +&#x200B; + +https://preview.redd.it/9ygdbv0p4hw71.png?width=1038&format=png&auto=webp&s=1400770956f07537813cf6a0ff6118e1590997b5 + +Regis Resources is an Australian gold mining company that was founded in 1986. It listed onto the ASX the following next year and acquired tenements in Western Australia. Originally trading under Johnson’s Well Mining (JWM) it went through a major restructure in 2004 after accumulating years of losses for and having fallen deep into debt. + +By 2011, 25 years later, the rebranded company finally started turning a profit and have since then established themselves as one of the most reliable mid-cap gold miners on the ASX. Regis is also one of the few listed miners that does 100% of its mining inside of Australia, with current mine operations in the North Eastern Goldfields of Western Australia, along with plans to develop a mine in NSW. + +# The Checklist + +* Net Profit: positive 9 of last 10 years. Good ✅ +* Outstanding Shares: major capital raise in FY21\* Bad ❌ +* Revenue, Profit, & Equity: overall growth in all. Good ✅ +* Insider Ownership: <1%, but many of on-market purchases. Neutral ⚪ +* Debt / Equity: 22.3% w/ Current Ratio of 2.3x. Good ✅ +* ROE: 16% Avg L10Y w/ 9.2% FY21. Good ✅ +* Dividend: 3.6% 10Y Avg Yield w/ 3.5% FY21. Neutral ⚪ +* BPS $2.10 (1x P/B) w/ NTA $2.09 (1x P/NTA). Good ✅ +* 10Y Avg: SPS 70.2cents (2.8x P/S), EPS 14.4cents (14x P/E). Neutral ⚪ +* Growth: +24.2% Avg Revenue Growth L10Y w/ 8.3% FY21. Good ✅ + +**Fair Value: $2.72** + +**Target Buy: $2.46** + +\* Major capital raise in FY21 increased total number of shares by almost 50%. It is worth noting that the capital raise funded a major acquisition, and prior to that the share count was quite stable. Further note, that I've run the numbers using the new share count. + +# The Knife + +[marketindex.com.au](https://preview.redd.it/0aklcru15hw71.png?width=1476&format=png&auto=webp&s=241187e13cc9879f3320902c92c239e5300fd3db) + +RRL’s current status of dog-stonk is not new. It's recent fall mirrors a very similar descent from 2013 to 2016. Really, one would expect that in any mining stock, which all else being equal, it will mimic the underlying commodity that they produce. However, lately RRL has diverged quite heavily from the gold price. In that sense, the title of dog-stonk is truly earned. + +Weakness in RRL started as far back as July of 2019, when it briefly touched just under $6.50 per share. At that point the company was were valued at over $3billion and were solidly within the top 5 largest gold miners listed on the ASX by market cap. + +Even 1 year later in 2020, after a tumultuous journey they looked primed and ready to take out their all-time-high again. But by the close of Friday 29th Oct 2021 @ $2.00, RRL is down 70% from its high. Even those that bought 1 year ago today would be down 50% on their investment. + +# The Diagnosis + +The Short Answer: Gold price… wait no, that’s near its all time high. Uh, Revenue down? Hmm, nope, best it’s ever been. Cost blowout and net profit negative? Not that either… they’ve been solidly in the green for years. Hmm… ??? + +The Long Answer: This one was actually quite difficult to nail down precisely. The weakness and underperformance of RRL relative to its peers has been chronic. Since at least 2019, if not prior, they’ve fallen short of the sector, even while having pretty strong numbers relatively. I’d flippantly say the answer is “bad management,” and there is some truth to that. + +Yet, the company has been able to reliably turn a profit for many years now, and that isn’t necessarily the case with many gold miners. It isn’t uncommon for even the largest goldies in the world, like Nemont and Barrick, to have loss making years. On the contrary, RRL has been growing their revenue and equity quite consistently, and only had a loss in 1 year of the last 10 (FY14). I think that shows that they know what they are doing. + +If anything, management have been great at mining and a shitshow when it comes to shareholder relations. That isn’t to say that there have not been some underlying issues involved. The reasons for the stock’s fall from grace are very real. It could well be described as ‘death by a thousand cuts.’ In absence of good marketing, there hasn’t been the shareholder sentiment to hold up their loftier price levels. If I had to point to just a few of the main issues, I would highlight the following: + +**Legacy Hedges** + +Shareholder has long been dissatisfied with what appears to be some real head-scratcher hedging contracts. With gold pumping to new all-time-highs in 2020, the upside was capped by the fact that RRL were obligated to deliver a large percentage of their volume into these hedges. + +By the end of FY20, 400koz was hedged at \~A$1600 with Macquarie. Under the arrangement RRL were required to reduce that hedge to 200koz by the end of CY21. Except, RRL produces around 350koz annually. In essence, half of their sales for the next 18 months were earmarked to the hedge. That’s mighty painful to watch as a shareholder when gold is hitting new highs at A$2800 at the time of the report release. + +To be fair, it’s hard to put that much blame on current management, as the hedging structure had been in place since 2010. It was a legacy from a period of time in which RRL was struggling to turn a profit at all and needed funding to launch their Duketon Gold Project. That that point they had been losing money for decades and had only just gone through a major restructuring to stay afloat 5 years earlier. The hedging arrangement presumably was a stipulation placed on them by Macquarie in order to secure the loan. + +As it turned out, the Duketon project was quite successful and is still the major area that they mine today. However, the hedging arrangements continued well past what might have been considered useful for the company. I’m not sure what exactly what the original agreement was, but RRL continued committing more and more of their future volumes towards ‘forward sale contracts’ in the decade that followed. + +One positive point of news on this front is that RRL renegotiated its hedging in May of this year. Under the new arrangements, RRL would be obligated to deliver the remaining volumes in 25koz instalments each quarter. This reduced their obligation to end of CY21 by 25%, and in exchange RRL locked in a slightly lower fixed rate of A$1571/oz for the remainder of the hedged balance. + +**McPhillamys Project Delays** + +Further to this, early on there has been questions surrounding the McPhillamys Gold Project in NSW, and with each month that goes by those questions become more and more pertinent. Initial indications were that the project could get its approval and break ground in late 2019. Fast forward almost 2 years later, and RRL is still working through the approval process with the NSW government. + +To be sure, the disruptions of 2020 would not have helped matters, with government bureaucracies around the world in chaos, and interstate travel clamped down for much of the year and into 2021 in Australia. At this stage, RRL is hoping to have an answer before the end of the calendar year (2021), but admits that they have no real control over the time frame, as it mainly rests now with the NSW government. + +The trouble with this is the expectations of tacking on another major production asset may have been priced into the share prior to 2019. On top of that, with the final decision still lingering on, RRL is potentially chasing bad money with good by dumping more capex into its development. The upside here is that the delay and uncertainty would have likely caused the market to discount the project entirely from the share price. This allows for a bit of surprise upside if RRL finally get the nod, and they have made fairly strong indications that they ready to break ground almost immediately. + +**Reduction in Dividends** + +However, one bit of collateral damage from a McPhillamys approval is likely to be the dividend. Indeed, it already has taken a pretty heavy knock this year and this is another major reason why shareholders have lost faith in RRL. + +&#x200B; + +[From FY21 Presentation](https://preview.redd.it/ig4f80085hw71.png?width=1200&format=png&auto=webp&s=851328d0321b0878fe53c0d16db2378ddfcb0d4d) + +The 1H21 dividend was cut in half despite good earnings. The reason given by RRL was conservation of capital in order to prepare for an immanent McPhillamys greenlight. But that was a gut punch to the baghodlers who were otherwise quite excited with the sky-high gold prices most of the 1H21. A lot of holders may have also held RRL in light of their consistently good payouts over the years. To see the divies drop by more than half was a signal that it was time to quit the position and many did. + +**Capital Raise for Acquisition** + +Those that cut and run, they dodged a bullet. Even with gold as high was it was for most of 2020, RRL was closing in on breaking its March 2020 low by the end of the first quarter of 2021. But the real pain was yet to come. Baghodlers were blindsided when RRL announced a capital raise and acquisition of the 30% JV share of Tropicana mine from IGO. SPP price: $2.70, or about 15% less than the current trading price. + +&#x200B; + +https://preview.redd.it/vb0mopx95hw71.png?width=1200&format=png&auto=webp&s=34559de85605ee7cb26ad3d7169fde50b82475e6 + +Only a couple months prior, when dividends had been cut in half with reasons given about McPhillamys, out of nowhere the company was now buying a $1billion asset that was totally unrelated. To put that in perspective, RRL’s market cap around about that point in time was only about $1.5billion. To top it off, in order to fund it, the company was commencing with a capital raise that would expand their share count by almost 50%. + +It’s a legitimate question to ask why RRL’s management wouldn’t have tried to do a raise only months earlier when the hare price was $4+. Poignantly, had RRL been more forward looking and decided to keep their dividend payout consistent, maybe they would have been in a better position with the share price to ask for a higher premium too. Instead, the placement was at $2.70, which was lower than even the lowest it had fallen in March 2020. + +Honestly though, the $2.70 price was likely pitched to them by the institutional underwriters, as the RRL shares had been in decline well and truly before the dividend cut fallout (re: the other concerns). The point stands that the plan to buy up the 30% interest in Tropicana came out of nowhere. Not once is a plan for a major acquisition mentioned in the half-yearly report released just 2 months prior. The implication is that management bought it on impulse. But if not that, the natural speculation pointed to them dealing with some underlying issues with either McPhillamys approval or production at the current Duketon projects. + +Understandably the uptake by retail shareholders on the offer was muted. Only 20% of allotted shares were actually taken up, which is pretty pathetic for a placement really. Ironically, the massive overhang of unallocated stock left with the underwriters has likely contributed to further price resistance past the $2.70 offer level, if not hastening the decline further as potentially those institutional holders dump at market. + +Add on the fact that the timing of the capital raise put the +50% of newly issued shares on the books for the FY21 report, but RRL had only 2 months-worth of mining sales to include in the figures. That made the acquisition look heavily dilutive, with the EPS going from 37.8cents in FY20 to 26.3cents in FY21, even though the actual long-term outlook with Tropicana included was certainly not that bad. + +In addition, some awkwardly timed capex with the new asset completely blew out Tropicana AISC to A$2121 (All-In Sustaining Costs) on the 1st quarterly report with it included. In conjunction with RRL’s already increasing AISC from the last couple of years, claims by management of RRL being a low-cost gold producer I think started to fall on deaf shareholder ears. + +**Skin in the Game** + +Ultimately, there is a serious question as to the price paid for Tropicana. Likely RRL paid too much, and that puts a question mark solidly above the heads of management. Even so, by many broker estimates Tropicana should likely end up breaking even for RRL on an EPS basis when a full year of production is factored in. The price might even be seen as cheap in hindsight, should the gold spot rise in the future. That’s besides the fact that the added production offsets the ‘cost’ of RRL’s hedging contracts by making the impost a smaller percentage of their output; that’s not insignificant. + +&#x200B; + +[😐](https://preview.redd.it/fv7d0a7c5hw71.png?width=1000&format=png&auto=webp&s=215ab791cdb319c1321bb68571b04650ed03791f) + +At this point though, I feel I should point out that even if these were conscious considerations that RRL’s management made, they did not do a very good job of highlighting any of this in their presentations. I would posit that this again points to their lack the perspective, being such small holders of the stonk themselves. Having more skin in the game tends to change people’s viewpoint, and perhaps incline the management not to abuse the owners of the company quite as much. + +I should preface this by saying that I cannot knock the team for not buying the stonk in some amount. They have bought small parcels (about 12x on-market purchases since Jan 2020). They also participated in the share placement. But with only 756k shares held between all of the directors, it seems to me that the they hold quite a small stakes relative to the market cap (only 0.1%). Combined, the execs enjoy a fixed renumeration of over $2million a year. Under their leadership, RRL is trading at a 5-year low despite AUD gold prices trading at an all-time-high. It seems to me we should be seeing them buying the dip! I almost think it’s a moral imperative, given the amount of baghodler capital that they have destroyed at this point. + +I truly think the market is factoring in the ‘management risk’ heavily into RRL’s price now, with the stonk losing 20% in the last quarter of trading alone. To be fair, all the gold stocks were down, but RRL was by far the worst performer among the big goldies. RRL has dropped as low as $1.86 in the past few weeks, well below even their book value of $2.10. Perhaps the market is expecting RRL to have to come to the market again with another capital raise if McPhillamys gets the greenlight. For the sake of baghodlers, let’s hope not. + +# The Outlook + +Otherwise, just looking at the gold price alone, the future looks bright for RRL. Gold is showing a fair bit of support in the $1700-1800 USD range, and in terms of AUD, the chart looks even more bullish. + +&#x200B; + +[tradingview.com](https://preview.redd.it/sb6t2gkg5hw71.png?width=1600&format=png&auto=webp&s=c311952d71c3eeb8ad79f7476cd50d6bdc730d25) + +With RRL’s guidance for AISC of around A$1300 for FY22, they’d be in good shape to be pulling in quite the cash-flow with AUD gold prices currently sustained around A$2300/oz. That is even with the hedges diluting their average sales price. In FY21 they averaged around A$2200/oz at similar levels, and it is looking like they might have a repeat on their hands for FY22, but this time with more production in light of an additional 100-135koz share of contribution from Tropicana. + +The real question is: will gold continue at these levels? + +# Optional: Inflation, Gold, and Real Yield + +*This section explores some of these concepts in a more general way, feel free to skip down to “The Verdict” if you are not interested.* + +To give justice to do justice to the question regarding gold, I think we must put aside RRL for a moment and try to address the elephant in the room here: inflation. + +&#x200B; + +https://preview.redd.it/lu23wd0l5hw71.png?width=1600&format=png&auto=webp&s=e77ab94be20801bfee82a3f6e7738e2ba905eb7b + +What do we mean by inflation? Well historically, ‘inflation’ was defined as an increase in the monetary supply. Essentially, whether or not there is price movement in the marketplace, if the government prints more money, then we have inflation. Under that measure, it’s hard to really understate the amount of monetary supply (M0) inflation that has occurred in the western world in the last 15 years. The last year alone, many governments have printed more additional money than what was in circulation prior. + +The USA and Australia are no exception. The Americans started much earlier in 2008, in response to the GFC, and it accelerated in 2020. Australia didn’t quite get as carried away back during the GFC, but are doing their best to catch-up. The RBA in the past 10 months has printed an extra 300billion dollars, which has nearly tripled the supply of AUD. At the rate that they are going, we’re likely to quadruple it or more in the next few months. Though, strictly speaking, it’s the USD in the driver’s seat, being the reserve currency of the world. + +&#x200B; + +https://preview.redd.it/n35iwods5hw71.png?width=900&format=png&auto=webp&s=2206e74794ff055b55812fac3897afd004529209 + +Past the M0 measure, is fair to say that what people generally mean by inflation these days is actual price increases. The trouble with this definition is that it’s quite difficult to measure. + +First, prices of goods follow their own supply & demand curves, and as such may have deflationary forces (e.g. offshoring manufacturing to countries with slave labour) that artificially push the price down. This can happen despite there being underlying inflationary pressures from the monetary supply which would otherwise push them upwards. + +Second, the way in which central banks have measured the inflationary rate has not necessarily been consistent over time; picking different baskets of goods; excluding certain commodities; and sometimes trimming the outlying extremes of the bell curve, focusing on the mean. + +&#x200B; +