diff --git "a/reddit_finance_43_250k_114.txt" "b/reddit_finance_43_250k_114.txt" new file mode 100644--- /dev/null +++ "b/reddit_finance_43_250k_114.txt" @@ -0,0 +1,10000 @@ + +If an investor made the accurate call 6 months ago that commodities would perform well this year then what was the correct position to take? Should one take it as the wrong call to have been in iron ore companies now that the spot price is now only 1% up from where it was at the start of the year? Should those investors somehow have known in January that 6 months later lithium would be almost 100% up right now? + +&#x200B; + +https://preview.redd.it/g192ttpur9h71.png?width=1200&format=png&auto=webp&s=3b0c9e2cd9b18f59e441fdfb547eb735b90f2bb0 + +More importantly, could there be a meaningful argument to have preferenced lithium over rare earths? Perhaps an investment case to say that coal would be better than iron ore? Natural gas over oil? What about RIO over BHP? Or perhaps it is better to say that we cannot know in the future which commodity will best perform, only that commodities will perform well, and that it’s then prudent to develop a position in several at the lows in the market. + +# Relativity + +At the end of the day, I imagine anyone with a stake in some miner would be pleased. It would be truly a first world problem to be complaining about the gains made with BHP, even if the dividend doesn’t end up being quite as good as RIO. + +But this idea of relative performance extends further than just a single sector. More profoundly the idea can be seen across different sectors and industries over time. + +&#x200B; + +https://preview.redd.it/hkwpekrvr9h71.png?width=1500&format=png&auto=webp&s=47ceebf6751793e57e507912a3f4d392faf42498 + +Anyone who had invested in banks and retail in the middle of 2020 would have seen some substantial gains in their positions over the course of the last year. Strikingly, even more so than those who had invested in health care 52 weeks ago today. Who would have picked that in the middle of a pandemic, that health care would struggle to even match half the gains of the index in general? Much less gone in heavily on retail when widespread lockdowns were being imposed and preventing customers from going to the shops. + +But I think more interestingly, is the ability that diversification allows an investor to redeploy gains in one area into new opportunities in another; selling into strength and buying into weakness. Utilities for example were heavily impacted over the same period, losing 17.5%. I would expect as a result to see some reasonable valuations metrics amongst some of the companies in that sector. Perhaps there is an opportunity to gain some value from the circumstances? Only time will tell, but this is again where diversification can assist in maybe capturing some of that potential, without leaving one fully exposed to being on the wrong end of a bad call. + +# TL;DR + +&#x200B; + +https://preview.redd.it/x9qpgacwr9h71.png?width=1500&format=png&auto=webp&s=289ceac75e5de9b55839d67941d97fe125663880 +Seriously if you can’t sleep at night because Bitcoin fell 20% then you have too much of your assets allocated to it. Bitcoin is volatile. It will swing a lot in both directions. You need to be able to handle the volatility. If you can’t handle the volatility then don’t put so much of your money into it. If you only put 20% of your money in Bitcoin and the price falls 20%, then that’s only a 4% drop in your net worth. If Bitcoin is 50%, then that’s a 10% drop. If you cannot handle these swings then to need to lower your exposure. You should not be up at night wondering how much money you may gain or lose the next day and how it will affect your financial situation. This mostly goes for losing money though as no one seems to think they’re over leveraged when they’re making money. + +Edit: I meant overexposed not over leveraged. +I’m 28 and looking for a little inspiration. Currently make 180k and should see significant increases over the next decade (private practice health care) and we save about 20-30% depending on the year. I love what I do so no plans to RE but I like the idea of working as much or as little as I want to. Just curious when people first hit the 5M+ milestone +https://www.cnbc.com/2019/10/16/microsoft-gives-ceo-satya-nadella-a-raise-for-2019-fiscal-year.html + +Satya Nadella replaced Steve Ballmer as CEO in February 2014. + +Microsoft’s independent board directors bumped Nadella’s base salary for the most recent fiscal year. + +Nadella also received more stock awards. +I decided to sell most of my stocks today low 6 figure account. Why? Well Its not because I think we are going to crash (although it does seem like the markets too optimistic at the moment) but cause I realized I've made alot of mistakes investing. + +1. 25% of my portfolio were in "speculative" stocks +2. I had too much of my net worth invested and thus caused me to lose sleep each night. +3. I have alot to learn about investing and choosing the right companies. In the past I just bought stocks without doing thorough research and finding good price entry points. +4. The most recent crash made me realized I was in a bad position because I did not have any more money I was willing to put in the market. I saw many companies at steep discounts but I did not have any "cash to buy". + +Moving forward I need figure out a solid investing strategy. Also need to figure out my risk tolerance to reduce my stress. Worrying about the market everyday is unhealthy. Make a list of companies I bought want to invest in so that when they do go on sale, I can be ready to buy them in increments. + +I still hold 40% in good companies like amazon, google, Facebook, etc. (Tech heavy but going to keep this until retirement 20-30 years down the road). + +Anybody else in the same boat? What are your plans moving forward? Has anyone else been over leveraged and had to hit the stop button and reset? Let's hear your thoughts, stories and recommendations! Thanks in advance. +I was wondering what this sub thinks about the philosophy behind minimalism. Is there something people could learn from it or do the ideas not resonate with your personal lifestyle at all? What's your take? +I have been waiting all year to post this, as it doesn’t feel right or appropriate to share with friends/family. Similar to others only my fiancé (should have been married but due to COVID wedding is postponed, far better than what others are going through right now) is the only person on this earth who knows. + +For context I graduated college from a small public university, got a degree in accounting and have never made over $90k from a W2. I’ve received zero inheritance, don’t have wealthy parents, and only $1,000 car to my name 6 years ago. Now I drove a $6,000 Camry. Similar to another poster, I did this with day trading, over the past 10 months. I know everyone’s first thought is WSB but I personally don’t enjoy that community (no hate for those who do) just not my style. Yes I had some YOLO trades and yes I invested in some popular stocks, but the one stock I made the most money on is one I have been trading since 2015, and I follow the news on it daily. + +Going forward I don’t see day trading as a possibility (don’t want to end up like dot com day traders). I treat this as a one time opportunity from which I will move on from. I do have rental property and I’m considering focusing more on growing that. My near term goal is $5M which seems tough with two people one income of $90k. + +Ultimately I’m looking for advice from people much smarter than me. What would you do in my shoes? Only debt I carry is on my rental property and primary residence. +It’s obviously a nightmare to go through these. Is there a better plan of action than contacting each individual company to file the fraud claims? Quite lost here, any advice is useful. +This is more of an opinion post, but I have never realized any value from this site. Is it just me? I always get the feeling that they write articles about obscure stocks that they are likely invested in. What are some good financial sites that don’t feel like the soup of the day? +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/ywAGqfUAQE). +Most financial experts recommend that you have somewhere between three months and six months of basic living expenses in your emergency fund. But corona probaby changed this. I am from a non-EU, recently moved to Germany and was wondering if holding a year of expenses \~12-17K (I am 27yo, single, software engineer) would make sense or if it is an overkill. Holding them in a back account does not seem to be much sense to me as there is no interest. How much emergency liquid is recommended to hold in Germany/EU? +Welcome to the Daily General Discussion thread of /r/EthTrader. + +*** + +Thread guidelines: + +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All [sub rules](https://www.reddit.com/r/ethtrader/about/rules/) apply here so please be familiar with them. + +*** + + Resources and other information: + +* Find the latest Altcoin Discussion thread in [this search listing](https://www.reddit.com/r/ethtrader/search?q=author%3Aautomoderator+title%3Aaltcoin&include_over_18=on&sort=new&t=all). + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! + +Is Australia the only country where the auction process is just a formality to create a bidding war? I have gone to multiple auctions now in Melbourne expecting the vendor to meet the market after it passes in but still no hope. Even auctions where no buyers showed up but myself and the vendor still wants ABOVE the range. + +The laws regarding the auction process should be that any bids above the starting price are successful if there are no higher bids. At the moment the auction process is just something being abused by the real estate industry instead of being an honest process to sell things. If vendors don’t want to meet the market then **sell it privately**. +When I was at university, my perception of happiness was based on graduating and quitting my "shitty" job at the local supermarket. + +When I started my corporate career, I found the FIRE movement, so that perception shifted to wanting to grow my bank account and retire early to work on my side hustle. + +When I did FIRE, I was so miserable, it almost broke my spirit. +------------------------------------------------------------ +First I want to extend a big thank you to this community. I have learned so much from here. There are some threads on here where I have read the replies so many times that I almost know them by heart ;) + +**I achieved my FI by** + +1.Having a high paid corporate job + I managed to climb up the corporate ladder in a relatively short time span not because I was so skilled at what I do, but because I have always worked on my social skills. (no that doesn't mean that I sold my ass lol) + +2.Investing +I started with a term deposit account then bought gold, then index funds, then individual stocks. The usual except that I also sold stock options which paid me handsomely. + +3.Always having a second source of income from a plethora of side hustles that I had started over the years. +- Dropshipping was the most consistent business I owned. +- Day trading bitcoin was the most profitable. + +4.Frugality: This is where my views diverge a little from the common dogma. I just chose not to waste my best years pinching pennies and not doing the things that I want (not necessarily need) to do. Not material things but more experiences. As an example, travelling has literally changed me as a human being and my net worth could have been a lot bigger without travelling every single year, but I believe that travelling when young is very different than when I have settled down and/or matured. + +**My Story** + +Early 2016, although my net worth by most calculators out there told me that I have to work for at least a few more years before I make these calculators happy, I decided that my safety net is large enough to retire and I am capable of making my side hustle at the very least cover my expenses. So I quit my job. + +The mornings feel so damn different when you are not a corporate slave. Everything seemed more enjoyable from getting coffee in the morning to taking random walks during the day. +I started to enjoy my interactions with others so much more. Maybe the facade of the corporate world had trivialised the small things for me. + +Leaving my corporate job was no excuse for being lazy. I was working 14 hour days on growing my e-com business. and it was definitely paying off. +I was either behind a computer screen, at the gym, or with my girlfriend. + +Around 3 weeks in, I started talking to walls as all my friends were at work during the day and I started feeling some loneliness. + +I found a job at a local gym. 3 nights a weeks. Working at a gym is something that I have always had on my bucket list. I loved it. It kept me sane. + +I started having what Financial Samurai calls an identity crisis. I was good at my job, financially stable. I consider myself a very confident individual. But I hadn’t realised that most of my sense of self worth was tied to my job. +Now that it was gone and everyone around me including my girlfriend were still at work. My self esteem started to suffer. + +The gym closed. Now my loneliness was exacerbated. Combine that with a fluttering self esteem. My relationship started to suffer. +I broke up with my girlfriend at the time, 4 months after quitting work. +I've had many break ups, but I still carry the deep scar of this one as it represented more than a breakup. It represented the collapse my identity that I had built over the years. Viktor Frankl's A man's search for meaning describes this perfectly. I lost my purpose. Now severe depression set in. I cannot describe to you how debilitating that was. I didn't want to do anything. I literally felt that there was an invisible door stopping me from leaving my room, let alone the house. Stopped answering calls let alone talking to other human beings. I didn't even know what day it was and I didn't care. I was prescribed antidepressants and Valium. I refused the antidepressants and on a whim,pushed by my siblings, decided to travel ,alone, for the first time in my life. + +A silent retreat in India. Bungee jumping in a dodgy place in Thailand. Learning meditation and yoga. Scuba diving. Catching up with childhood friends and family members across different countries. I started feeling better. So much better very quickly. + +Then I went to Bali. I wanted to live the "nomad" lifestyle, so I signed up at Hubud and the Dojo (2 renown coworking spaces in the digital nomad community) + +This was life changing. One the best experiences in my life. I felt a sense of belonging to a tribe of like minded people. I was so motivated to work because the energy around me was contagious. I closed my e-com store (too many negative emotions attached to it) and started leverage trading bitcoin (on Bitmex). I bought all kinda courses, joined paid groups, newsletters and it did pay off... I was averaging $200-$300 days which is incredible for a noob. +Imagine waking up, meeting up with friends for breakfast at the beach, going to the co-working space, making money, then having fun at night with your friends. +You know that picture marketers paint in our heads of some dude running a business from his laptop at the beach? That's real. + +Then comes the wake up call. I quickly noticed that people come and go. I would develop friendships (even a great relationship) then a few weeks later, my new found friends would go back home and I'd have to start from scratch. Then the novelty of working from the beach and not answering to a boss started to lose its meaning. Also, the visa run wasn't my favorite thing to do. + +At that crossroad, I had a call from a recruiter who had worked with me in the past, about a new alluring opportunity. + +My decision was based on this: I can always go back to FIRE but the longer I stay out of the workforce the harder it will be to find a job. + +So I went back to the corporate world. This is not the end of my story as I know that office work will never be a long term option for me. But I had to retreat and regroup for now…. + +I am as usual working on a side hustle - I am still trading options. + +**Lessons learned** + +*I didn’t realise this at the time, but for me now, the end goal of FI isn't necessarily early retirement...but a sense of freedom. I can quit whenever I want which makes work a lot less stressful. Hell, I enjoy my work a lot more now just knowing that. + +*Early retirement is still on the agenda, but I will not do it alone. I will make sure that I have a better support system (a business partner / a spouse on the same journey / a team). + +*Loneliness is a bitch. I know that there are many introverts like me amongst you, but social isolation can literally KILL you based on multiple studies like https://heart.bmj.com/content/102/13/1009 + +*When you shift your paradigm, be psychologically prepared to conquer your demons and centre your self identity. You are not your net worth. You are not your job. + +*I understand the gravity of mental diseases a lot more now and I have a massive amount of empathy towards people who suffer from them. + +*Oh, and I have zero regrets. If I were to do it all over again, I wouldn't change a thing. I am grateful for the opportunity to fail and learn from my mistakes. + +Thank you for reading! +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! + +I invested in a couple of mutual funds through Groww app. But while setting up autopay, I noticed that the beneficiary is Groww themselves and not the AMC managing the fund. But this is in direct conflict with Groww’s statement that they act only as an intermediary and do not handle the money themselves. + +Also the mutual funds I bought are all direct MFs, so the autopay registration should be with the fund house directly. + +Is setting up autopay with Groww safe thing to do ? +The church I attend recently allowed a cellular company to place a 5G tower in their parking lot. In exchange for allowing the 5G company to use about 100sqft of unused space on the roof of a shed, the 5G company pays about $3,400/m to the church in rent. It’s a pretty sweet gig. + +I’m about 3 months from finishing a $1.2M commercial remodel in Cincinnati, OH and would like to stick one of those on the top of my building. It’s the tallest building in the local area I’m in and about 2 minutes from a 100M development that’s going in over the next 7 years. + +The building is currently being completely redone, so adding a tower to it would be easy and I’d never complain about an extra $3k/m. + +Do any of you guys know how/who to contact about renting out some roof space to a 5G company? I haven’t don’t much research myself, but if anyone on here is a cellular broker/knows one, I’d love to connect. + +EDIT: The reason I’m not reaching out to my church’s broker is because my property is in the opposite side of the country. +Couldn’t I invest my own money and have full control/ access and invest in the same securities? + +I understand meeting the company match because it’s free money, but I’m questioning the norm with locking up a lot of my money until 59 1/2 yo. +After seeing TSLA land on Mars today when it crossed the $800 mark, I got a little worried. I had a weird feeling in my gut. I knew the next stop would be Jupiter, I just... couldn’t help but feel like ”we had arrived”. + +So after thinking about it long and hard, going back and forth, I decided to cash out and get off this reusable masterpiece of a rocketship. It had taken me and my SO safely from Earth to Mars and it was time to get off. + +The money we made from TSLA helped us make a down payment on our first apartment, so it went to good use. + +Selling TSLA felt bitter sweet as I love this company, I have a man crush on Papa Musk and I was planning initially to hold my dear TSLA shares “forever”. However, I’m forever grateful to this company as it made buying an apartment possible for me. Believing in it paid off. + +Thank you Elon. Thank you TSLA. ❤️ + +Edit: Thank you guys for all the comments! It is crazy how emotionally attached you can get to a stock. I’ve just spent countless hours studying this company and Elon. I believed in it when so many said I was crazy (or thought it). Elon is a true visionary and I truly believe TSLA is going to continue on its path to greatness. + +Also, I wasn’t trying to time the top at all. It’s near impossible to do anyway. I just saw an opportunity, went with my gut feeling and seized it. + +Edit 2: I was made aware by e fellow investor that in the US it’s called a condo and not an apartment. I understand if that was confusing! I’m from Europe and here apartments are both for sale and for rent. +Long term lurker looking for some advice. Currently have a NW of $4.5M in a HCOL area (doesn't count home). Target FI is $6.5M threshold with an objective of $8M. Early 40s with combined income of $450K. We can easily coast to FI but I have a constant internal battle of just getting to the number as fast as we can vs spending more on some "wants" (toy car, higher end vacations, or even working less hours). I am tied to my company for at least the next six years to max out my equity and I anticipate that will bring another $4M but I want at least half to setup our retirement residence and don't currently know where that is just yet. + +Should we grind to 6.5 or count on the typical 8% growth to carry us there? We both work 10-11 hour days so the hours do start taking a toll on you. +Hang onto your helmets and buckle up! + +[When you wish upon a star - a complete guide to Computershare](https://www.reddit.com/r/Superstonk/comments/ptvaka/when_you_wish_upon_a_star_a_complete_guide_to/) + +GameStop's Q4 2021 Earnings call is scheduled for one hour past market close (5 P.M. EST). + +===== ===== ===== ===== + +You can tune into the call here: + +GameStop official channel: [https://www.youtube.com/watch?v=ZRzzu-Mmgio](https://www.youtube.com/watch?v=ZRzzu-Mmgio) + +[^(https://viavid.webcasts.com/starthere.jsp?ei=1536075&tp\_key=6f4dc40cad)](https://viavid.webcasts.com/starthere.jsp?ei=1536075&tp_key=6f4dc40cad) + +===== ===== ===== ===== + +Company Report on Fourth Quarter and Fiscal Year 2021 Results here: + +[^(https://gamestop.gcs-web.com/news-releases/news-release-details/gamestop-reports-fourth-quarter-and-fiscal-year-2021-results)](https://gamestop.gcs-web.com/news-releases/news-release-details/gamestop-reports-fourth-quarter-and-fiscal-year-2021-results) + +===== ===== ===== ===== + +[10-K Form here.](https://investor.gamestop.com/sec-filings/sec-filing/10-k/0001326380-22-000021) + +===== ===== ===== ===== + +# NFT Marketplace to be launched by the end of Q2 2022! + +https://preview.redd.it/5k8gqhmaf0o81.png?width=847&format=png&auto=webp&s=f15d20cf08bd2ac48d4cc4a39c30920f57f4d299 + +&#x200B; + +*^(This post will be updated as Company Filings are released.)* +Why did Ryan Cohen finally tweet about GME and HODLing all of a sudden? What changed? + +Well I think the MOASS has begun. Poppa Cohen knows that the death spiral is coming. Everything is going to start dipping. HARD. GME at first too... + +Until it takes off + +He is giving us one last reminder to hold on for dear life as everyone around us panics and contributes to the sell-off. + +Why else would he finally speak directly to us after a year of nothing? The MOASS is upon us. + +ALL WE HAVE TO DO IS NOTHING + +Edit - If MOASS is not today then it's tomorrow...and so on. Keep yourself zen and your tits jacked + +Edit #2 - this is not meant to scare people into not DRSing. The squeeze will likely take a while to play out even if it "starts" tomorrow. +Welcome to the Daily General Discussion thread of /r/EthTrader. + +*** + +Thread guidelines: + +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All [sub rules](https://www.reddit.com/r/ethtrader/about/rules/) apply here so please be familiar with them. + +*** + + Resources and other information: + +* Find the latest Altcoin Discussion thread in [this search listing](https://www.reddit.com/r/ethtrader/search?q=author%3Aautomoderator+title%3Aaltcoin&include_over_18=on&sort=new&t=all). + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! + +The list of warning signs is growing on a daily basis. + +Consumer Price Index (CPI) inflation is slowly ramping up. + +On Friday MBS already went no bid which should remind everyone of 2008. + +And now Crypto is not looking too good as well... + +This quite big drop for BTC on the weekend: + +https://preview.redd.it/3saf2aw5l6591.jpg?width=1080&format=pjpg&auto=webp&s=eb00dc4733055b407e778dccd86773678411cdcf + +ETH even on a bigger dive: + +https://preview.redd.it/rab692qal6591.jpg?width=1080&format=pjpg&auto=webp&s=398b2d2debe3894a5f8db288c73bd97f4a25b9e0 + +As a little hype text I'll just leave you with this recap of the 1987's Black Monday: + +>*On Monday morning, the crash started in Hong Kong. The crash continued throughout all of Asia and all during the Asian trading session, as other markets began to feel the “aftershocks” of the initial crash. The market carnage continued, spreading throughout Europe when the London market session opened.* +> +>*By the time the U.S. stock markets opened, stocks were virtually in freefall. By the end of the day, the DJIA had dropped by more than 500 points and the S&P 500 by more than 55 points.* + +&#x200B; + +So now we just have to wait for the collapse of a few institutions. + +See you on Monday. + +MOASS tomorrow. + +/Edit - Update (Monday 1:30am EST) - Hong Kong market took a dive (tech index down -4% now), crypto continued going down (ETH lost another 6%), German pre market opening in half an hour +I never used to worry about job security because my skills are in demand, and I back myself to adapt. + + +But now that I've worked up to a higher income, I worry that I would have difficulty finding an equivalent opportunity if anything happened. As you go up the ladder there are fewer opportunities, which has me feeling more 'vulnerable' than I was in my earlier years. + + +I enjoyed the feeling that I could replace my income easily. Now I feel tied to success in my current role, as a new opportunity would likely start at a lower salary. + + +This makes it hard to plan for my future, because I feel like I don't have income certainty, given all my eggs are in this basket so am hesitant to make larger scale investments (larger home purchase primarily.) + + +About me: 35, HCOL, 300k, HENRY pursuing fat fire. Wife is in a much more secure field, but lower paying, 80k. + + +Has anyone else been here? It would be good to get perspective from someone who was at this point in the past. Would love to hear your story. + + +Thanks in advance +I see so many people saying to get a financial advisor to consult with for financial advice. From what I've seen though, most financial advisors aren't actually financial advisors in the sense that they give you good advice. Instead they intentionally give you bad advice so they can make a commission instead. I've heard countless stories about how someone went to an advisor at a bank, investment company or similar and got sold annuity products, live insurance or high-fee mutual funds instead. + +Thoughts? +Ticketmaster parent, Live Nation Entertainment just dropped 8% in news that it's [under an antitrust investigation](https://www.nytimes.com/2022/11/18/technology/live-nation-ticketmaster-investigation-taylor-swift.html) from the DOJ. + + + +This has been prompted in large part by market mover Taylor Swift whose ticket sales crashed the system. + +> WASHINGTON — The Justice Department has opened an antitrust investigation into the owner of Ticketmaster, whose sale of Taylor Swift concert tickets descended into chaos this week, said two people with knowledge of the matter. The investigation is focused on whether Live Nation Entertainment has abused its power over the multibillion-dollar live music industry. + +> That power has been in the spotlight after Ticketmaster’s systems crashed while Ms. Swift fans were trying to buy tickets in a presale for her upcoming tour, but the investigation predates the botched sale, the people said. +So like the caption says I am very lucky to be in this situation, however I am not sure where to start and don't want to lose it all. I'm in my late 20's so I'm still pretty young, no debt but I work a dead end job. + +&#x200B; + +Should I just get a financial advisor? I'm not sure if they're useful for what they'd cost, and if I can learn what to do on my own I'd prefer that. I see people recommending books like 'A random walk down wall street' and bogleheads, do those tell you most everything you need to know or is there more to it? Any materials you'd suggest would be greatly appreciated. + +&#x200B; + +Any specific tips, or hell - tell me what you would do if you were in my situation. I'd love to hear that as well. +During my time with a bank I won’t disclose, we had our payment service go down 2 times. + +The first time it happened, our systems were down for 2 hours. During that time you could check your online banking, you could log into all of your services, but any service that attempted to remove money from the account during that time did not work. Regardless if it was transferring from online banking, paying with a card, or a third party like pay pal attempting to pull out the money. The transaction would just be declined. (It sucked for us cause it happened on a Sunday and we had a skeleton crew, which meant we were flooded with so many angry customers we had 60+ minute waits) + +The second event is what I suspect is happening to Bank of America, if they are having a legitimate outage. Our data centers got cut off from our systems during this event. I believe that one lasted for 4 hours. You could log into online banking, however it would not show any accounts. You could not use any form of payment, ranging from card to check. You could not use third party payment like Venmo or PayPal. Hell, bank employees couldn’t even log into their programs to pull up customer information. We were stuck telling customers we can’t help them unless they have a general question, and that we have no idea when the problem will be fixed. We just know we have a team on the job. + +The thing is, in neither event did we close our doors. There wasn’t much we could do, but we were still there. We had no idea on how long the shortage of service would last, so we just kept to our regular schedules and waited for it to come back on. If Bank of America was having either of these events take place they would not close their doors. I could see them doing so if the repair crew called up the chain and said the repair wasn’t going to be done in a day or more. However it is VERY unusual for a bank to change plans in the middle of the day. I would think they would have kept their doors open for the rest of the day the shortage started, and then close for the next day. But there was no warning given, they just didn’t open. + +On top of all of their other odd activity from the year, the sudden closes, the quiet board ups, the odd service going quiet. Something strange is happening with them. I don’t have evidence on what could be, so I won’t speculate. I will simply say it is strange. +In the many rent vs. buy discussions on here and elsewhere, people have such strongly held convictions, often based on an incomplete analysis. (They perhaps mention two or three factors.) + +This calculator nails it all...fees on purchase and sale, expected years of stay/ownership, your tax bracket, opportunity cost (editable % return loss) on down payment and on recurring costs, adjustable inflation factor on home values, expenses, and rental costs, and more. +https://www.nytimes.com/interactive/2014/upshot/buy-rent-calculator.html + +EDIT it's also in the tools wiki of this Sub. +EDIT2 paywall but a few free articles allowed monthly. +EDIT 3 yes might be slightly outdated due to changes in deductibility of state and local taxes and new standard deductions, but likely still close or perfect for most situations. High price homes in high tax states might be off due to “salt” limits Edit 4 and for homes under 300k give or take, or married couples with large std deduction, likely best to set marginal rate low due to higher std deductions now so unlikely to have- or less - benefit of interest and taxes. Would need to peek inside this thing to see how they calculate tax savings re std deductions, if at all +Does anyone have access to any data from 2013 onwards? + +https://preview.redd.it/ydhxa2n8a4471.png?width=1108&format=png&auto=webp&s=74292c0cdad933fc1ff4cdcffce51c44410049e8 +**for me:** + +**-jumping in too fast, motivated mistakenly with fomo, thinking this 'low price' won't go any lower (eg buying too high lightspeed, nuvei and hut 8, even when they later dropped 1-2 mo later even more.)** + +**-also holding on too long (esp newer tech stocks) and not taking profits.**..and hell during these past few months there's been so much volatility with tech/fintek/bitcoin related stock (affirm, docebo, paypal, hut coinbase, etsy, doximity, square,lightspeed,nuvei etc etc) who the hell knew they could rise and fall as fast as they have + +**my lessons learned:** + find a realistic entry point after some research, be patient, buy a bit at a time esp when dips are happening, not all at once because you never know if it'll drop lower (as above stocks have indicated).....sometimes simpler is better like a nice market index fund (VFV) that will save so many headaches; and on this note no wonder Buffet said he'd dump all his wife's savings into a simple,quality index fund. + +this said, however, **I did grab some shares of lightspeed today @ $50** hoping it's a good entry even if it goes lower..you have analysts on both sides either pumping up or beating down this one....you can't find consensus with lightspeed: just today you have morgan stanley downgrading it while RBC is praising it....so imo is a leap of faith to some extent. +Well its happened, the crypto market just experienced the worst crash since 2014, the bubble has burst. [The idiocy of newbies FOMO-ing into anything with low nominal value lead to endless twitter timelines like this](https://i.imgur.com/zDjmRjl.jpg), and now nobody has any idea where the market settles. What do you do now? + +In the following weeks it will be a good time to rethink your investment approach and how you arrive at your decisions. Just buying whatever is shilled on Twitter or Reddit and jumping from one crypto to another isn't going to work like it did these last two months. + +The good news is that we're finally back closer and closer to our long term moving average which is much more healthy for entrants, the bad news is that the fear might continue compounding if outstanding issues are not dealt with. [Tether is the big concern for me personally for reasons I've stated many times](https://np.reddit.com/r/CryptoCurrency/comments/7tg8fn/tether_drama_tether_has_dissolved_relationship/dtco50g/), but some relief in the short term may come if the SEC and CFTC meeting on February 6th goes well. Nobody really knows where the bottom is but I think we're now past the "irrational exhuberance" stage and we're entering a period of more serious inspection where cryptos will actually have to prove themselves as useful. I suspect hype artists like CryptoNick and John McAfee will fall out of favor. + +But perhaps most importantly use this as a learning experience, don't try to point fingers now. The type of dumb behavior that people were engaging in that was rewarded in a bull market (chasing pumps, going all in on a shillcoin, following hype..etc) could only ever lead to what we are experiencing now. Just like so many people jumped on the crypto bandwagon during the bull run, they will just as quickly jump on whatever bandwagon is to be used to blame for the deflation of the bubble. Nobody who pumped money into garbage without any use case will accept that they themselves with their own investing behavior were the real reason for the gross overvaluation of most cryptocurrencies, and the inevitable crash. + +So if you're looking for a fresh start after the massacre (or just want to get in now), here is a guide: + +#Part A: Making a Investment Strategy +--------------------------- + +This is your money, put some effort into investing it with an actual strategy. Some simple yet essential advice that should apply to everyone, regardless of individual strategy: + +1. Slow down and research each crypto that you're buying for at least a week. + +2. Don't buy something just because it has risen. + +3. Don't exit a position just because it has declined. + +4. Invest only as much as you can afford to lose. + +5. Prepare enter and exit strategies in advance. + +First take some time to think about your ROI target, set your hold periods for each position and how much you are actually ready to risk losing. + +**ROI targets** + +A lot of young investors who are in crypto have unrealistic expectations about returns and risk. A lot of them have never invested in any other type of financial asset, and hence many seem to consider a 5-10% ROI in a month to be unexciting. + +But its important to temper your hype and realize why we had this exponential growth in the last year and how unlikely it is that we see 10x returns in the next year. What we saw recently was [Greater Fool Theory](https://en.wikipedia.org/wiki/Greater_fool_theory) in action. Those unexciting returns of 5-10% a month are much more of the norm, and much more healthy for an alternative investment class. + +You can think about setting a target in terms of the market ROI over a relevant holding period and then add or decrease based on your own risk profile. + +**Example: Calculating a 2 year ROI target** + +Lets say you want to hold for 2 years now, how could you set a realistic target to strive for? You could look at a historical 2 year return as a base, preferably during a period similar to what we're facing now. Now that we had a major correction, I think we can look at the two year period starting in 2015 after we had the 2014 crash. To calculate a 2 year CAGR starting in 2015: + +Year | Total Crypto Market Cap +-------|------ +Jan 1, 2015:| $5.5 billion +Jan 1, 2017: | $18 billion + +Compounded annual growth return (CAGR): [(18/5.5)^(1/2)]-1 = 81% + +This annual return rate of 81% comes out to about 4.9% compounded monthly. This may not sound exciting to the lambo moon crowd, but it will keep you grounded in reality. You can aim for a higher return (say 2x of that 81% rate) if you choose to take on more risky propositions. I can't tell you what return target you should set for yourself, but just make sure its not depended on you needing to achieve continual near vertical parabolic price action in small cap shillcoins because that isn't sustainable. + +Once you have a target you can construct your risk profile (low risk vs. high risk category coins) in your portfolio based on your target. + +**Risk Management** + +Everything you buy in crypto is risky, but it still helps to think of these 3 risk categories: + +* Core holdings - This is the exchange pairing cryptos and those that are well established. These are almost sure to be around in 5 years, and will recover after any bear market. The Coinbase pairs (Bitcoin, Litecoin and Ethereum) are in this class of risk, and I would also argue Monero. + +* Medium Risk Speculative - These would be cryptos which generally have a working product and niche, but higher risk than Core. Things like ZCash and Ripple, relatively established history but still uncertainty over long term viability. + +* High Risk Speculative - This is anything created within the last few months, ICOs, low caps, shillcoins...etc. Most cryptos are in this category. + +How much risk should you take on? That depends on your own life situation for one, but also it should be proportional to how much expertise you have in both financial analysis and technology. + +The general starting point I would recommend is: + +* 50-70% for newbies in Low Risk Core, then you can go down to 30% as you gains confidence and experience + +* Always try to keep at least a 1/3rd in safe core positions + +* Don't go all in on speculative picks. + +Some more core principles on risk management to consider: + +* Diversify across sectors and rebalance your allocations periodically. + +* Consider using dollar cost averaging to enter a position. This generally means investing a X amount over several periods, instead of at once. You can also use downward biased dollar cost averaging to mitigate against downward risk. For example instead of investing $1000 at once in a position at market price, you can buy $500 at the market price today then set several limit orders at slightly lower intervals (for example $250 at 5% lower than market price, $250 at 10% lower than market price). This way your average cost of acquisition will be lower if the crypto happens to decline over the short term. + +* Don't have more than 5-10% of your net worth in crypto. + +* Have the majority of your holdings in things you feel good holding for at least 2 years. Don't use the majority of your investment for day trading or short term investing. + +* Remember you didn't actually make any money until you take some profits, so take do some profits when everyone else is at peak FOMO-ing mode. + +* Have some fiat in reserve at a FDIC-insured exchange (ex. Gemini), and be ready to add to your winning positions on a pullback. This should be part of your entry strategy. + +* Consider what level of loss you can't accept in a position with a high risk factor, and use stop-limit orders to hedge against sudden crashes. Set you stop price at about 5-10% above your lowest limit. Stop-limit orders aren't perfect but they're better than having no hedging strategy for a risky microcap in case of some meltdown. Only you can determine what bags you are unwilling to hold. + + +You can think of each crypto having a risk factor that is the summation of the general crypto market risk (Rm), but also its own inherent risk specific to its own goals (Ri). + +Rt = Rm +Ri + +The market risk is something you cannot avoid, it is essentially the risk that is carried by the entire market over things like regulations. What you can minimize though the Ri, the specific risks with your crypto. That will depend on the team composition, geographic risks (for example Chinese coins like NEO carry regulatory risks specific to China), competition within the space and likelihood of adoption and other factors, which I'll describe in Part 2: Crypto Picking Methodology. + + +**Portfolio Allocation** + +Along with thinking about your portfolio in terms of risk categories described above, I really find it helpful to think about the segments you are in. [OnChainFX](http://onchainfx.com/) has some segment categorization but I generally like to bring it down to: + +* Core holdings - BTC, Ethereum, LTC...etc + +* Platform segment - Ethereum, NEO, Ark...etc + +* Privacy segment - Monero, Zcash, PivX..etc + +* Finance/Bank settlement segment - Ripple, Stellar...etc + +* Enterprise Blockchain solutions segment - VeChain, Walton, Factom...etc + +* Promising Tech segment - NANO/Raiblock, Cardano...etc + +Think about your ["Circle of Competence"](https://en.wikipedia.org/wiki/Circle_of_competence), your body of knowledge that allows you to evaluate an investment. Your ability to properly judge risk and potential is going to largely correlated to your understanding of the subject matter. If you don't know anything about how supply chains functions, how can you competently judge whether VeChain or WaltonChain will achieve adoption? If you don't understand anything about the tech when you read the Cardano paper, are you really able to determine how likely it is to be adopted? + +Consider the [historic correlations between your holdings](https://cointrading.ninja/correlation). Generally when Bitcoin pumps, altcoins dump but at what rate depends on the coin. When Bitcoin goes sideways we tend to see pumping in altcoins, while when Bitcoin goes down, everything goes down. + +You should diversify but really shouldn't be in much more than around 12 cryptos, because you simply don't have enough competency to accurately access the risk across every segment and for every type of crypto you come across. If you have over 20 different cryptos in your portfolio you should probably think about consolidating to a few sectors you understand well. + + +#Part B: Crypto Picking Methodology (Due Dilligence) +------------------------------------------ + +Do you struggle on how to fundamentally analyze cryptocurrencies? Here is a 3-step methodology to follow to perform your due dilligence: + +# Step 1: Filtering and Research + +There is so much out there that you can get overwhelmed. The best way to start is to think back to your own portfolio allocation strategy and what you would like to get more off. For example in my view enterprise-focused blockchain solutions will be important in the next few years, and so I look to create a list of various cryptos that are in that segment. + +[Upfolio has brief descriptions of the top 100 cryptos and is filterable by categories](https://www.upfolio.com/100-coins-explained), for example you can click the "Enterprise" category and you have a neat list of VEN, FCT, WTC...etc. + +Once you have a list of potential candidates, its time to read about them: + +* Critically evaluate the website. If it's a cocktail of nonsensical buzzwords, if its unprofessional and poorly made, stay away. Always look for a roadmap, compare to what was actually delivered so far. Always check the team, try to find them on LinkedIn and what they did in the past. + +* Read the whitepaper or business development plan. You should fully understand how this crypto functions and how its trying to create value. If there is no use case or if the use case does not require or benefit from a blockchain, move on. + +* Check the blockchain explorer. How is the token distribution across accounts? Are the big accounts selling? Try to figure out who the whales are (not always easy!) and what the foundation/founder account is based on the initial allocation. + +* Look at the Github repos, does it look empty or is there plenty of activity? + +* Search out the subreddit and look at a few Medium or Steem blogs about the coin. How "shilly" is the community, and how much engagement is there between developer and the community? + +* I would also go through the BitcoinTalk thread and Twitter mentions, judge both the length and quality of the discussion. + +You can actually filter out a lot of scams and bad investments by simply keeping your eye out on the following red flags: + +* allocations that give way too much to the founder + +* guaranteed promises of returns (Bitcooonnneeeect!) + +* vague whitepapers filled with buzzwords + +* vague timelines and no clear use case + +* Github with no useful code and sparse activity + +* a team that is difficult to find information on + +#Step 2: Passing a potential pick through a checklist + +Once you feel fairly confident that a pick is worth analyzing further, run them through a standardized checklist of questions. This is one I use, you can add other questions yourself: + +Crypto Analysis Checklist | +---------| +What is the problem or transactional inefficiency the coin is trying to solve? | +What is the Dev Team like? What is their track record? How are they funded, organized? | +How big is the market they're targeting? | +Who is their competition and what does it do better? | +What is the roadmap they created and how well have they kept to it? | +What current product exists? | +How does the token/coin actually derive value for the holder? Is there a staking mechanism or is it transactional? | +Is there any new tech, and is it informational or governance based? | +Can it be easily copied? | +What are the weaknesses or problems with this crypto? | + +The last question is the most important. + +This is where the riskiness of your crypto is evaluated, the Ri I talked about above. Here you should be able to accurate place the crypto into one of the three risk categories. I also like to run through this checklist of blockchain benefits and consider which specific properties of the blockchain are being used by the specific crypto to provide some increased utility over the current transactional method: + +Benefits of Cryptocurrency | +---------| +Decentralization - no need for a third party to agree or validate transactions. | +Transparency and trust - As blockchain are shared, everyone can see what transactions occur. Useful for something like an online casino. | +Immutability - It is extremely difficult to change a transaction once its been put onto a blockchain | +Distributed availability - The system is spread on thousands of nodes on a P2P network, so its difficult to take the system down. | +Security - cryptographically secured transactions provide integrity | +Simplification and consolidation - a blockchain can serve as a shared ledger in industries where multiple entities previously kept their own data sources | +Quicker Settlement - In the financial industry when we're dealing with post-trade settlement, a blockchain can drastically increase the speed of verification | +Cost - in some cases avoiding a third party verification would drastically reduce costs. | + + +#Step 3: Create a valuation model + +You don't need to get into full modeling or have a financial background. Even a simple model that just tries to derive a valuation through relative terms will put you above most crypto investors. Some simple valuation methods that anyone can do: + +**Probablistic Scenario Valuation** + +This is all about thinking of scenarios and probability, a helpful exercise in itself. For example: Bill Miller, a prominent value investor, [wrote a probabilistic valuation case for Bitcoin in 2015](http://dev.lmminvestments.com/a-value-investors-case-for-bitcoin/). He looked at two possible scenarios for probabalistic valuation: + +1. becoming a store-of-value equal to gold (a $6.4 trillion value), with a .25% probability of occurring +2. replacing payment processors like VISA, MasterCard, etc. (a $350 million dollar value) with a 2.5% probability + +Combining those scenarios would give you the total expected market cap: (0.25% x 6.4 trillion) + (2.5% x 350 million). Divide this by the outstanding supply and you have your valuation. + + +**Metcalfe's Law** + +[Metcalfe's Law](https://en.wikipedia.org/wiki/Metcalfe's_law) which states that the value of a network is proportional to the square of the number of connected users of the system (n^2). So you can compare various currencies based on their market cap and square of active users or traffic. We can alter this to crypto by thinking about it in terms of both users and transactions: + +For example, compare the Coinbase pairs: + +Metric | Bitoin | Ethereum | Litecoin +---------|----------|----------|---------- +Market Cap | $152 Billion | $93 Billion | $7.3 Billion +Daily Transactions (last 24hrs) | 249,851| 1,051,427 | 70,397 +Active Addresses (Peak 1Yr) | 1,132,000 |1,035,000 | 514,000 +Metcalfe Ratio (Transactions Based)| 2.43 | 0.08 | 1.47 +Metcalfe Ratio (Address Based)| 0.12| 0.09 | 0.03 + +Generally the higher the ratio, the higher the valuation given for each address/transaction. + +**Market Cap to Industry comparisons** + +Another easy one is simply looking at the total market for the industry that the coin is supposedly targeting and comparing it to the market cap of the coin. Think of the market cap not only with circulating supply like its shown on CMC but including total supply. For example the total supply for Dentacoin is 1,841,395,638,392, and when multiplied by its price in early January we get a market cap that is actually higher than the entire industry it aims to disrupt: Dentistry. + +**More complex valuation models** + +If you would like to get into more fleshed out models with Excel, I highly recommend Chris Burniske's blog about using Quantity Theory of Money to build an [equivalent of a DCF analysis for crypto](https://medium.com/@cburniske). + +[Here is an Excel file example of OMG done by Nodar Janashia using Chris' model ](https://docs.google.com/spreadsheets/d/1FvYGe0TA-rZR00iAV2PDI-B9zba6GpEG1FodECWJDys/edit). + +You should create multiple scenarios with multiple assumptions, both positive and negative. Have a base scenario and then moderately optimistic/pessimistic and highly optimistic/pessimistic scenario. + +Personally I like to see at least a 50% upward potential before investing from my moderately pessimistic scenario, but you can set your own safety margin. + +The real beneficial thing about modelling isn't even the price or valuation comparisons it spits out, but that it forces you to think about why the coin has value and what your own assumption about the future are. For example the discount rate you apply to the net present utility formula drastically affects the valuation, and it reflects your own assumptions of how risky the crypto is. What exactly would be a reasonable discount rate? What about the digital economy you are assuming for the coin, what levers affects its size and adoption and how likely are your assumptions to come true? You'll be a drastically more intelligent investor if you think about the fundamental variables that give your coin the market cap you think it should hold. + + +#Summing it up +------------------------------------------ + +The time for lambo psychosis is over. But that's no reason to feel down, this is a new day and what many were waiting for. I've put together in one place here how to construct a portfolio allocation (taking into consideration risk and return targets), and how to go through a systematic crypto picking method. I'm won't tell you what to buy, you should always decide that for yourself and DYOR. But as long as you follow a rational and thorough methodology (feel free to modify anything I said above to suit your own needs) you will feel pretty good about your investments, even in times like these. + + +Edit: Also get a [crypto prediction ferret](https://i.imgur.com/ZEJqZHf.jpg). You won't regret it. +i've been doing this for awhile and the difference it makes is crazy. i literally just finished a bowl of mixed broccoli, carrots, 2 eggs, and a pack of ramen and i'm actually full. i'm a 6'1 180 pound man as well, and payday isn't for a couple days. Put the veggies in when you put the water on to boil, then add the egg when you put the ramen in! + +i call it poor mans soup but i'm sure it has an official name somewhere haha! don't be afraid to experiment as well! +**My Original POPCORN Thesis In A Nutshell:** + +During the insanity of the early 2021 frenzy, GME was trading much higher than POPCORN during a crucial period of FOMO. This meant that many new investors (like myself) were more comfortable YOLO'ing into POPCORN. This was due to the perception that "POPCORN had more room to squeeze". Whether this is true or not doesn't matter. What matters was the public perception. For many novice investors, POPCORN simply seemed like the better "deal". Millions and millions of investors piled into POPCORN. I, myself, had xxxx shares at a point, and only about 20 GME. Whether POPCORN was the better play didn't matter. What mattered to me was the massive influx of investors into POPCORN. To discount that fact is to take a biased view of the situation. + +I STILL BELIEVE POPCORN AND GME ARE INEXTRICABLY LINKED DUE TO MANIPULATION AND RETAIL YOLO'ING, BUT TO A POINT. + +**What My Instinct Is Telling Me Now:** + +CEO's, FUNDAMENTALS, AND STOCK DILUTION MATTER. As Mark Cuban put it, and I'm paraphrasing "The only way the shorts win is if the company goes bankrupt, or retailers sell their shares.". Over the course of the past 8 months or so, as I've educated myself (thanks to wrinkle-brained apes), I've come to believe that GameStop is about to cause a SEISMIC shockwave through three worlds: + +1. **CRYPTO/NFT/BLOCKCHAIN** +2. **ECOMMMERCE** +3. **FINANCIAL MARKETS** + +Although currently based on conjecture and speculation, the tea leaves that we ARE able to read are pointing to something huge coming down the pipe. They've poached top talent from companies like Apple, Amazon, and Google—while reeling in heavyweights in the blockchain space. How has "dying brick and mortar" been able to do this, in a time when those other companies are CRUSHING it? + +There can only be one answer in my opinion: GameStop is promising these people an opportunity to be part of a revolution of sorts. A David v Goliath story. They're promising this talent that they'll get a front row seat on one of the wildest rides in human history. + +**THE FACT IS, GameStop Execs (not selling massive amounts of shares) AND the talent they're able to acquire, ALL BELIEVE IN THE FUTURE of this company.** + +That means that GAMESTOP IS NOT ONLY **NOT** going out of business.—but they are going to be one of the powerhouses of the next decade and beyond. That also means that the hundreds of millions (if not billions) of naked shorts WILL need to be bought back. + +**I BELIEVE IN THE GME APES, GameStop, and RC TO LAND THE KNOCKOUT BLOW THAT DROPS HEDGIES TO THE CANVAS.** +I would like to share some very in depth due diligence done by someone not on Reddit but is of extreme value to many people. + +They are more active on HotCopper which I'm sure everyone here has heard of. I'll supply links for those who are interested can read about further, set aside a good few hours as there is a lot of info to get through. + +Firstly, a primer on the background of the company, management, and the oncology drug they're reviving can be accessed here - [RAC Primer.](https://hotcopper.com.au/threads/rac-primer.5627186/#post-47378954) + +Secondly, FA analysis of the market and further peer comparison with a downloadable PDF accessed here - [RAC FA.](https://hotcopper.com.au/threads/race-oncology-fa.5499225/#post-45836955) + +Thirdly, about Bisantrene and Race Oncology 3 pillar strategy with comparisons on the market availability oncology drugs and usability accessed here - [Peer Analysis.](https://hotcopper.com.au/threads/estimated-bisantrene-revenues-compared-with-oncology-top-5.5795792/#post-49305023) + +These links provide a huge amount of information and a lot to wrap your heads around so I hope everyone enjoys the read and the process. + +Also Mods, hope this is okay, IMO RAC is an undervalued company and because it is tightly held with a very small number of SOI it does not get a massive following. You'll see reading through these threads it's difficult to take a large position in RAC because people are holding long (18 months). Its MC is currently only sitting at $222m but that's because the last few weeks have been a bit brutal, true value should be multiples of this and there is a high probability of it reaching close to $1b in 12 months time. + +The buyout timeframe is within the next 12 - 24 months. I won't put what multiples as the above links provides a range of discounts and probabilities of success for each pillar. + +Enjoy :) + +\-------------------------- + +EDIT: Wombat has been so kind as to provide an update. The HC post can be accessed here - [HotCopper Thread](https://hotcopper.com.au/threads/rac-upside-promising-forgotten-cancer-drug-that-works.5891587/#.YByoddgzaUk) and the associated PDF accessed here - [Analysis PDF.](https://hotcopper.com.au/attachments/rac-upside-5-february-2021-pdf.2883401/) + +More info by an independent professional on LinkedIn, [accessible here.](https://www.linkedin.com/posts/chriskallos_race-oncology-asxrac-initiation-report-activity-6768047859473494016-eDcx/?fbclid=IwAR33rgFqBs7O-RrhoTED_zlUpnx2fwVdLvFSi4NxeEYMCm17EHIpgL2LVuE) + +Positive Early Preclinical Ovarian Cancer Results announcement, located here - [ASX Announcement.](https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02344727-6A1021436?access_token=83ff96335c2d45a094df02a206a39ff4) + +Second FTO independent study identifies Bisantrene is a potent inhibitor - [ASX Announcement here](https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02363873-6A1028517?access_token=83ff96335c2d45a094df02a206a39ff4) and the journal article relating to it [POSTED HERE.](https://hotcopper.com.au/threads/pillar-1-fto-new-thread.5839654/page-681?post_id=52415505#.YHeS3mczY2w) Will have to search for the journal article from the title at this link. +Welcome to the Daily General Discussion thread of /r/EthTrader. + +*** + +Thread guidelines: + +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All [sub rules](https://www.reddit.com/r/ethtrader/about/rules/) apply here so please be familiar with them. + +*** + + Resources and other information: + +* Find the latest Altcoin Discussion thread in [this search listing](https://www.reddit.com/r/ethtrader/search?q=author%3Aautomoderator+title%3Aaltcoin&include_over_18=on&sort=new&t=all). + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! + +DMM = Designated Market Maker + +This means that they have an obligation to dampen volatility as the DMM and provide two-sided markets during volatile periods. Do you think they will? +I feel like it’s a valid question that deserves discussion. Do we really own it? A substantial part for sure, retail as whole still probably multiple times over, but Superstonk? It doesn’t seem so sure for me any more… If we as Superstonk owned the float multiple times over, it would have been DRSed already, would it? What am I missing? On the other hand, all the shorted shares have to be somewhere…. so? (I’ve DRSed 98% my XXX myself, with just a few at broker to sell on the way down at gmefloorish levels). + +edit: fatty fingers +**If you're looking through this subreddit just know I feel for you... Constantly looking for the next moonshot while trying to dodge rug pools & sketchy developers. Search no more!** + +**🌮 Join the community for 24/7 support! -** [**Telegram**](https://t.me/TacoCatCrew) + +**🌮 Website :** [**Tacocat.finance**](https://Tacocat.finance) + +TacoCat is a community driven moonshot that caters to both serious & meme investors. The liquidity taconomics of the coin provide INSANE stability when it comes to dumps, which basically means whales can't manipulate the price. It's the first of it's kind in that aspect and has every chance to thrive just as much as the last hype driven coin. We're breaking into a revolutionary time period where the people get to decide what they purchase is truly worth, and it's a beautiful thing. + +**The TacoCat community & Devs are available to answer all your questions & FUD.** + +\--------------------- + +**🌮 Marketing?😺** + +Tacocat has a dedicated experienced marketing team in place pre launch. + +Marketing Roadmap: + +1. Brand Establishment on Socials: Twitter/ TikTok/ Telegram +2. Early Partnerships - Aim for [bogged.finance](https://bogged.finance/) listing +3. Community Competitions +4. TacoCat Tequila Commission + +**🌮 Tacocat Tequila?😺** + +Shortly after establishment the community will decide on a tequila blend / distillery. A custom batch will be ordered with unique branding and delivered straight to your front door! + +**🌮 Community - Antiwhale attitude😺** + +This token is the love child of a group of likeminded individuals who love Cats, Tequila, Tacos and BSC tokens with organic growth. The initial liquidity was made up from community donations (My donation was 0.042069 BNB). The launch was a FairLaunch with no presale + +\--------------------- + +## 9% Transaction fee + +**8% of all TacoCat transactions is put back into our Food Vault, which is locked inside of PancakeSwap LP, feeding the homeless, hitchhiking cats along the ride. 1% Returned to holders as a small way to say thank you. Auto-liquidity will ensure high and stable fuel levels.** + +\--------------------- + +## Locked Liquidity + +**50% of Liquidity LOCKED for 6 months:** [**https://bscscan.com/tx/0xd714bb4f8a53993cf9581cb56d6e0726e281db252efaf80f9347702cfc990814**](https://bscscan.com/tx/0xd714bb4f8a53993cf9581cb56d6e0726e281db252efaf80f9347702cfc990814) + +**Remaining 50% of Liquidity LOCKED for 12 months:** [**https://bscscan.com/tx/0xb6ed6506d363a151d7e11add586f0e97e83732b3e11258a9a612ccbaf7737257**](https://bscscan.com/tx/0xb6ed6506d363a151d7e11add586f0e97e83732b3e11258a9a612ccbaf7737257) + +\--------------------- + +## ✅ TOKEN ADDRESS: 0xA8fcEe78B782eF97380326E90DF80D72f025f020 + +💵 Purchase on Pancake Swap: [https://exchange.pancakeswap.finance/#/swap?outputCurrency=0xA8fcEe78B782eF97380326E90DF80D72f025f020&inputCurrency=BNB](https://exchange.pancakeswap.finance/#/swap?outputCurrency=0xA8fcEe78B782eF97380326E90DF80D72f025f020&inputCurrency=BNB) + +♻️ 8% fee AUTOMATICALLY GOES BACK INTO LIQUIDITY + +💎 1% fee AUTOMATICALLY GETS DISTRIBUTED BACK TO HOLDERS + +🔮 Contract Address 🔮[https://bscscan.com/token/0xf09b7b6ba6dab7cccc3ae477a174b164c39f4c66](https://bscscan.com/token/0xA8fcEe78B782eF97380326E90DF80D72f025f020) + +👌🏻 Ownership Renounced 👌🏻 + +\--------------------- + +[**Buy PCS ( set slippage to 9)**](https://exchange.pancakeswap.finance/#/swap?outputCurrency=0xA8fcEe78B782eF97380326E90DF80D72f025f020&inputCurrency=BNB) + +[**Trade on Bogged.Finance**](https://bogged.finance/trade?token=0xA8fcEe78B782eF97380326E90DF80D72f025f020) + +[**Chart**](https://charts.bogged.finance/?token=0xA8fcEe78B782eF97380326E90DF80D72f025f020) **📊** + +**Links:** + +**🌮** [**Telegram**](https://t.me/TacoCatCrew) + +**😺** [**Twitter**](https://twitter.com/tacocatcrew) + +**🌮** [**Website Tacocat.finance**](https://tacocat.finance/) + +**😺**[**Discord**](https://discord.gg/kwPG4edB) + +🚗 Roadmap 🚗 + +## Q2 2021 + +* **Core Development** +* **Launch** +* **Website** +* **Marketing (In Progress)** +* **Visit distilleries and incorporate partnership** +* **BogCharts listing and ads** + +## Q3 2021 + +* **CoinGecko and CoinMarketCap listing** +* **Taco Tuesday ZOOM Banquets** +* **Tasting and finalization** +* **Marketing campaign begins for Taco Cat Tequila** + +## Q4 2021 + +* **Bottles of TacoCat Tequila will be airdropped** +* **Get more lit than a recovering cat in Catnip Anonymous** +* **Chuck a taco at a dog, then apologise profusely when he starts chasing us** +* **Befriend dog** +* **Betray dog** +I’ve been thinking about the main differences between amateur trading algo builders and the institutional investors/hedge funds in the space (except for the most obvious - AUM). + +Is the main difference that they can leverage energy-demanding super computers? How would that even very superior, faster trades? + +Is it that they simply have more brain power for building complex mathematical algorithms? + +Or is it that they can access valuable data? + +Would love to hear your thoughts! Thanks +Hi everyone. My girlfriend and I recently started investing. We read the millionaire teacher and watched Canadian in a t-shirt and started buying ETFs. Recently she invested 500 cad in unity. I thought this was not a smart move as unity has been going down quite a bit and we can't be sure where the company will be. My girlfriend being a cynic and distrustful of the whole financial system, thinks that having only 10% of her portfolio in etfs and the rest in stocks from companies she thinks will perform well is a good choice. According to her BlackRock and vanguard are very evil cpanies that already have a lot of money and can manipulate the markets as they wish. She said of these two companies decide to crash the ETFs there won't be any consequences for them. I agree with her on the fact that these two companies don't really give a shit about people and that our system is flawed. But I also think that to have a proper long term investment with minimal effort ETFs are the way to go. She said ETFs are not diverse because we are buying them from two companies. I don't know enough about investment to make a proper counter argument with facts. Help me please. Am I wrong? If I am tell me, if not, how can I actually show her with data that ETFs are as diverse as it can get and that BlackRock and vanguard cannot just fuck people over that easily. +Okay Apes, The DD has been done, The DD has been consumed by apes and there has been no rebuttal to the facts of our DD anywhere. There is new stuff coming out but by now we all should know that it is inevitable. **The MOASS could happen any day now.** There are a lot of possible catalysts approaching fast that each on their own could launch us to Andromeda. + +&#x200B; + +Let's face it. **The decisions you make during the squeeze are going to be some of the biggest and most important of your whole life.** I hope that this post will help some apes prepare to be in a good frame of mind, and in as good physical and mental shape possible in the time we have left. So that as many of us as possible can be in the right shape to make the right decisions for ourselves and all Apekind. + +&#x200B; + +The bottom line is that your preparation before and health and wellbeing at the time of the squeeze will have an impact on your decision making and ability to think accurately. I believe you’re letting yourself down to not prepare and to not look after yourself and be good for the squeeze before, during and after. + +&#x200B; + +This is not financial advice. I'm just an ape trying to share some of what I know that I believe is of value to other apes and give back to this amazing community. I’ve learnt so much on this journey with you Apes and already changed my life for the better regardless of the squeeze. + +&#x200B; + +I’ve always been interested in maximising health and wellbeing and physical/mental performance/self improvement but 5 years ago I developed a long term illness and became obsessed with this stuff. I've now done a tonne of research and experimentation in the last 5 years and found some things that really work and am now in an amazing place in life. + +&#x200B; + +I’m going to split this into 3 sections, one each for preparing and nourishing your mind, body and soul for the MOASS. All of these intertwine to create a truly healthy person inside and out and if one of these areas suffers, sooner or later the others will suffer too because of it. + +&#x200B; + +**Preparing the Mind** + +Prepare and read as much exit strategy DD as possible until you feel confident in what you need to do come the squeeze. Have an exit strategy in mind, this post is not for going into exact exit strategy DD in terms of peaks and dips and price points, others have and will cover that better than I would be able. In short, don’t sell on the way up or before you’re sure it has peaked, it's better to sell on the way down and almost guarantees more profits overall as well as a higher peak if enough apes do it. + +&#x200B; + +This DD is about giving you some practical strategies so you will be prepared to stay calm as the rocket launches and be ready to welcome the 7, 8 and 9 digit numbers like old friends. Do not be scared of the big numbers, they are your destiny. Calm = better decision making = more tendies for all the apes. + +&#x200B; + +Visualisation + +&#x200B; + +“It is now a well-known fact that we stimulate the same brain regions when we visualize an action and when we actually perform that same action. For example, when you visualize lifting your right hand, it stimulates the same part of the brain that is activated when you actually lift your right hand.” + +&#x200B; + +Visualisation and mental rehearsal are the real deal, when not practising physically professional athletes visualise plays and certain movements they perform during play nonstop. This is proven to help performance and increase the CONFIDENCE of being able to execute at a high percentage. + +&#x200B; + +I’ve personally used this in my own amateur sport career to great effect and in other areas of life like business and the gym too. + +&#x200B; + +How I propose this can be used for the MOASS prep and what I have been personally doing: + +&#x200B; + +Close your eyes and imagine yourself in as much detail as you can logging into your broker during the squeeze and seeing certain numbers for GME maybe 10k, 100k, and up to 1m, 10m, 100m. Visualise yourself sitting there viewing the ticker and holding, getting up and coming back to your computer and still holding easily for as long as it takes until your floor. + +Imagine the price dipping and then soaring back up a few times until the peak and then selling one by one on the way down. Visualise and mentally rehearse you pulling off your exit strategy flawlessly. + +Do this once a day and I promise you will be more confident during the MOASS and more likely to achieve your exit strategy goals. + +&#x200B; + +Practising mindfulness + +&#x200B; + +“According to neuroscience research, **mindfulness** practices dampen activity in our amygdala and increase the connections between the amygdala and prefrontal cortex. Both of these parts of the brain help us to be less reactive to stressors and to recover better from stress when we experience it” + +The benefits of mindfulness and meditation are countless and the science is now irrefutable. Practising mindfulness through meditation is in my opinion the number one best thing you can do for your mind to keep it working well and be more at peace with the world. I’ve now meditated everyday for almost 4 years and am able to deal with stressors relatively easily. It's hard to put into words how powerful a meditation practise is. There is a reason such a high percentage of the most successful people have a daily meditation practise. + +&#x200B; + +My favourite meditation quote: + +“Your mind is the basis of everything that you experience and of every contribution you make to the lives of others. Given this fact, it makes sense to train it.” -- Sam Harris + +&#x200B; + +Practise 10 minutes a day to start if that is all you can manage. I would highly recommend trying out some longer duration guided meditations too, the longer the meditation the more beneficial effects you will witness in my experience. + +I find it a lot easier and better lying down when I meditate without having to worry about posture especially if you’re a beginner. + +I recommend the insight timer app for free guided meditations perfect for beginners and experienced alike. Pick a highly rated one, block out some time to chill and work on yourself and trust the instructor and go with it. Remember it is meditation practise not meditation perfect, don’t expect to be a master straight away, be kind and encouraging to yourself for doing something positive. + +The goal is not to have zero thoughts. The goal is to be the witness to your thoughts and observe without engaging in them. + +Once you start to see benefits and enjoy the practise it becomes a true joy. + +If you’re feeling stressed, anxious or overwhelmed during the MOASS or at any point in daily life chucking on a good guided meditation is a surefire way to snap out of that state and gain some clarity as to what is happening and how best to move forward. + +Do this and your MOASS experience will work out better than if you don’t, I’m fairly certain of that. + +&#x200B; + +Be discerning with where and how you spend your mental energy. + +&#x200B; + +Social media is designed by some of the brightest minds of our time to keep you scrolling, to keep you clicking and to keep you getting those tasty dopamine hits. To suck as much of your time and attention per day as possible into their app. With GME this is even more powerful with the delicious hits of confirmation bias that we can deliver to ourselves so easily. + +There is such a thing as too much though and when you’ve already done enough reading and DD and upvoting and Apeing for the day or the week you need to be able to realise that you’ve come to that point and take the power back. Put your phone down and switch off from all of this. You don’t want reddit (or Facebook or IG, youtube etc.) to be taking up too large of a percentage of your day to where you are neglecting other important things in your life, depriving yourself of sleep and healthy living habits etc. It is very easy to do because of how powerful and addictive these technologies are but being aware of it is the first step to taking back control if you think you have an issue with this. + +I personally think it is an unfair fight for us against this addictive technology and the might of the tech giants. I enlist the help of app blockers on my phone and PC to limit my use of certain social media apps and websites. I would definitely recommend at least having them on at night so you can’t stay up too late in the internet wormhole and badly affect your sleep. + +You wouldn’t want the MOASS to start and for you to be tired and dopey from mindlessly scrolling social media all night the night(s) before. You want to be awake, well rested and alert and confident in your ability to execute when you need to during the MOASS. + +**Preparing the Body** + +I’m sure most of you intellectually know the basics of what I’m going to say now but seriously if you don’t have some of these healthy habits in your life already what better time is there to start than now? What better reason to look after yourself so you can perform during and after the MOASS. + +Exercise + +Make sure you’re getting some form of exercise everyday. We will all be at different levels of fitness and know-how but anything is better than nothing. I know during covid it's tough for some but even just getting out in the fresh air once a day and going for a leisurely walk will be very beneficial for mind, body and soul. Don’t jump straight into intensely working out if you’ve been doing nothing, that could potentially have you exhausted come the MOASS which is the opposite of what we want. The goal is to just not be completely sedentary and to be in a better place mentally and physically than you are now even if its just a few steps in the right direction. + +Sunlight + +Getting some sunlight on your skin is such an underrated and overlooked aspect of health these days. We all spend so much time inside on our devices. + +Make an effort to get at least 20-30 minutes of sunlight a day if possible, ideally with your shirt off so you can absorb more of that delicious vitamin D. Vitamin D is responsible for the proper function of an amazing amount of mechanisms inside our bodies and so many of us are deficient. + +This will also have the added benefit of balancing your circadian rhythm and allowing you to sleep better. + +If it's not sunny where you are, get a vitamin D supplement and start taking it. + +Getting outside and in nature and the fresh air even for a short while during the day even if its not sunny where you are will still benefit you. + +Nutrition + +I’m not going to get too deep into this as some people get so attached to their diet and ideologies surrounding food. + +Just make an effort to eat better than you have been, nearly all of us have some room for improvement in our diets. Focus on whole foods that are nutrient dense as far as your budget allows and try to stay away from the shit we all know is not good for you, the heavily processed fatty, carby, sugary shit. Don’t overeat, eat to satiation and stop. + +I believe so many modern health problems are caused by humans having an unnatural relationship with food today. We have changed from treating food primarily as a fuel for our bodies and minds to now using it more as a tool to make ourselves feel good for short bursts when we are eating it. Putting the importance of taste far above that of real nutrition and not giving ourselves the building blocks we need to perform to our best. + +Treat more of your meals primarily as fuel and your health and relationship with food will improve. + +Sleep + +Being well rested and getting your sleep is one of the major keys to being at your best. For some it is not easy and it took me a long time to improve my sleep habits from being terrible to now being able to consistently get 7-8 good hours a night and go to bed at a decent time. + +Here are some basic tips that make all the difference - try to get to sleep before 10PM, hours of sleep before midnight are worth more than the hours of sleep after midnight according to a lot of people and I have found this to be the case in my experience. + +Limit your phone and exposure to blue light before bed, ideally have your phone in another room at night so you aren’t tempted by it and make a commitment to not use your phone for an hour before bed so you can switch off. Create a night time and bedtime routine and stick to it. + +If you have trouble getting to sleep try one or all of these - a yoga nidra guided meditation, magnesium L-threonate or a good quality melatonin supplement. I’m also a fan of CBD as well. + +Doing the other things in this post particularly the sunlight, meditation and exercise should also help you sleep better and more easily. + +&#x200B; + +**Nourishing the Soul** + +if you’re some cyborg that doesn’t agree we all have a soul skip this section lol. + +Enjoy yourself and switch off from this whole GME saga for a while each day. Do what you love, spend quality time with your loved ones, your friends, play with your pets, watch your favourite shows, engage in your hobbies, get out in nature. Do the things that keep you out of your head and bring you into the present moment and recharge and nourish yourself. + +&#x200B; + +Gratitude + +Practising gratitude is very powerful, with research in recent years finding that it has emotional, social, personality, career and health benefits. + +This is a good article that lays this out in detail. [https://positivepsychology.com/benefits-gratitude-research-questions/](https://positivepsychology.com/benefits-gratitude-research-questions/) + +Besides the basic things we all have in life to be grateful for, stop and think about how lucky we are to be in this position. Realise how fortunate we are to be given this incredible opportunity. This is massive. **Out of 7 billion+ people we are part of the few million or so that know about the MOASS and are in a position to change our lives and the history of the world while fucking some greedy hedgies and making ourselves rich in the process.** + +Make no mistake this saga will go down in history and we were the ones lucky enough to be there before it all kicked off and in just the right place to benefit from it. This is truly a one of a kind history making phenomenon and we are here all together on the brink, Ape with Ape doing something so special it is hard to fathom. + +We are going to look back at this as some of the best times of our lives I’m sure of it, **be thankful.** + +&#x200B; + +**And finally lets fucking enjoy this shit!** + +&#x200B; + +This kind of goes along with gratitude but lets fucking enjoy this shit! Being jacked to the fucking tits is fun as fuck and should be a daily occurence. Watch some hype videos and fist pump, dance do whatever, read your favourite bias confirming DDs and get fucking JACKED to the tits with your fellow apes. There is a time for serious DD and a time for laughing and being filled with joy and excitement about this coming MOASS. + +**This is a once in a millenia occurrence and we are part of it, lets fucking enjoy it and lets get fucking JACKED to the tits!** + +Hopefully this post can convince some of you that preparing for the MOASS in these ways is the smart play both for yourselves and Apekind. + +Good luck during the MOASS fellow apes and may we all blast off to the andromeda galaxy and return with mind boggling amounts of tendies and more stories for our grandkids. + +**APESTRONG** + +TL:DR The MOASS is close and could happen any day now. Prepare by looking after yourself so that you are in the best mental and physical condition possible to successfully execute your exit strategy and make the most of it for yourself and all Apekind. Do this by nourishing your body, mind and soul. + + +**EDIT**: I made this post and went straight to bed (Aussie Ape here). I wasn't expecting too much from this so waking up to such an amazing response from all you apes has been incredibly heartwarming and encouraging for me. This is the kind of stuff I would like to do post MOASS so thank you for your appreciation fellow Apes it means a lot. I am truly grateful to be part of this community. +Two days ago I published an article covering all of the issues weve been having related to missing splividends. + +I then dug up a long list of journalists who had written articles over the last few weeks regarding the original announcement of the splividend and tweeted the following to them two days ago: + +&#x200B; + +https://preview.redd.it/4dve5enf8sf91.png?width=1214&format=png&auto=webp&s=d597d42402049fdc576b0b7a88cc3fe447f8a45e + +&#x200B; + +Well one of the journalists finally replied to my tweet. Motley Fool's Rich Duprey said he reached out to several brokers and they all have given him the same response which is that they have not received the splividend!!! This is epic yet disturbing at the same time because it means the DTC did not successfully execute the distribution of the splividend to all shareholders. + +&#x200B; + +https://preview.redd.it/ee66ydg49sf91.png?width=1238&format=png&auto=webp&s=ddbcd638de484205fb977ce869927a4a0ad62da7 + +&#x200B; + +I'll make sure to keep Superstonk updated with any new info related to all of this - but I just have to say its pretty epic that we have journalists from major publications to start looking into this. While some of them have not been the most GME-friendly in the past, I think its important to be pressing towards them yet polite in order to get them to cover these issues. + +&#x200B; + +...stay tuned. +Not talking about non owner occupied investment properties, I'm talking about liveable spaces. + +Is there really such shortage? I know heaps of apartments lay empty in the city, but wondering if there is a shortage. +**Most important things about personal finance I wish I knew 10 years back.** + +Original text is on [Quora](https://www.quora.com/What-are-the-ten-most-important-things-about-personal-finance-that-someone-without-a-finance-background-must-know/answer/Christopher-Pollock-4?share=1) + +**1. Spend less than your cash flow.** Easy enough concept, and it is the number one rule. + +**2. Pay yourself first.** When you get your paycheck, set money aside for yourself before any person or company you owe. This will determine whether you move up financially or not. + +**3. Every dollar is an investment.** Even if you are going to Disneyland, it is an investment into your personal happiness and an investment into the relationships you are building with your companions. Every dollar you spend must be advancing you in some way. This will fight off instant gratification. + +**4. Always expand your knowledge on making financial choices.** You have never learned everything you need to know. I don't care what school you went to. Keep reading, keep learning. + +**5. Don't listen to false prophets.** Just as I encourage you to learn more, it is important to tune out of the advice of people who set bad examples. If your dad is 65 years old and still has not retired, you might want to think twice about following his instructions. Instead, listen to high-identity people. + +**6. Set yourself up for financial security, don't have your job do it for you.** This is so important, and yet absolutely no one follows this rule. If you get a job, your employer will sit you down with HR, and an unqualified person from HR will give you deferred compensation options. This person is not licensed in financial options, and so cannot legally advise you. Choose your own retirement vehicles, because it is very likely you can hop employers. + +**7. Shop for competing prices for everything and never buy anything at full price!** Clothes, car maintenance, insurance. If you are ever paying full price for a service, you are being exploited. + +**8. Take care of yourself physically and legally.** Smoking will raise your life and health premiums. Getting a DUI will disqualify you from life insurance all together. This closes doors that can save you from being a slave till the end of your days. + +**9.** **Your hourly earnings are important.** Your annual earnings are not. *Someone making $50,000 a year at $500 an hour has more of their time (meaning their life) than someone making $100,000 at $50 an hour.* This is the single most important concept in understanding who is rich and who is not. *Someone is not living an enriched life because they have amassed wealth and material possessions.* ***Someone is living an enriched life because they have the freedom to spend their time how they wish!*** +If earning are revenue (all the money they make) - expense (all the money they spend), a P/E of 260 would suggest it would take 260 years to earn the $1,600 asking price. + +I get the concept of earnings growth, but revenue would need to outpace expenses by a lot just to see Amazon earn $1,600 in my lifetime. +https://www.bloomberg.com/news/articles/2020-09-15/big-investors-are-dying-to-know-what-the-little-guys-are-doing + +Are you young, newly rich from stock trading and ready to take the plunge in options? Wall Street is following your every move. + +With the sway of stay-at-home traders growing and starting to eclipse other influences on equities, figuring out who is doing what among amateur stock dabblers has become a critical mission for big investors. They’re canvassing Reddit threads like r/wallstreetbets and picks at retail brokerages, plugging data into programs and trying to gain an edge. +I think a lot of new people could particular benefit from this, but how do you typically discover new algorithms? + +Obviously a lot of it is probably self derived, but do you start from a hunch? Do you read papers? What typically works for you? +Are you guys reducing your cash position? + +I have about $60k cash for rainy days but starting to feel like they are just rotting away due to inflation. +Pretty much every thread that's made on here discussing 'housing affordability' seems to ignore the fact that apartments even exist as a viable option for something to buy. + +The line spouted on here a lot is that it's "selfish" to deprive people of their own house... + +I'd argue it's "selfish" of people who are single/living alone to expect to be entitled to a multi-bedroom, freestanding house all to themselves given how disproportionally destructive that is to the environment, and a waste of space/land that a family could make much better use of. + +If we want a growing economy, which requires a growing population, then it's simply *physically impossible* for every single person to be able to own a detached house. + +More effort should be put into lobbying the government to enforce *better building standards on new apartment blocks/better insurance for apartment buyers in case of defects/stringent requirements on larger & more liveable sizes of apartments* for developers. + +Not trying to come up with ridiculous stimulus-fuelled schemes to make detached houses "more affordable" that just end up inflating the prices of them for everyone in the end. + +Single people: why are most of you "apartment snobs"? + +Note: I don't have kids & am currently renting an apartment with my partner, there's nothing wrong with it. +This is the official $GME Megathread for r/Superstonk. Please keep ALL conversations contained to Gamestop and related topics. + +**Not enough karma?** Here's a [**quick guide**](https://zapier.com/blog/how-to-get-karma-on-reddit/) on how to get it. + +# [announcements](https://www.reddit.com/r/Superstonk/wiki/index/announcements) + +* Make sure to check the Announcements regularly. 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Just 3 months ago in November 2021, every growth investor looked like a genius. Then, suddenly many growth stocks went down more than 50%. This post( [https://www.reddit.com/r/wallstreetbets/comments/swwvyt/when\_the\_stocksmarket\_will\_crash/](https://www.reddit.com/r/wallstreetbets/comments/swwvyt/when_the_stocksmarket_will_crash/) ) is a good summary on the damage done to the individual high growth stocks. My portfolio also suffered quite a bit. The index portfolio went down 5% and my concentrated portfolio is down 20% from the peak. It’s unclear how much my startup investment portfolio dropped as it is illiquid. But relatively speaking, I believe my loss is pretty average among tech investors. My diamond-hand friends used to make fun of me for being too conservative i.e. no margin debt, paid off mortgages and an absurd amount of 60/40 balanced (\~$30m) portfolio. I had to tell them that I don’t want to take too much risk for the profits I don’t need. I made my life changing money and I intend to keep it that way no matter what happens. + +Overall, this selloff doesn’t really matter to me. My family’s expenses are fully covered by dividends from my index portfolio with quite a bit of margin of safety. I did see a few tech stocks become quite cheap and I wondered if it’s time to buy the dip. The stock picker in me wanted to go for it but after some careful thought, I decided I don’t have to be involved. My time and attention should be focused on what matters to me, i.e. startup investments, programming projects, family. Also, what do I really know about the stock market? This market can go down another 20-40% or it can rebound 20-40%. My knowledge in the tech sector doesn’t really translate to public equity. I will just be gambling if I try to time the market. I am not gonna lie. There’s a very strong urge for me to want to buy the dip because I want to be right and be the diamond hand. But there are times that I need to protect my money and my time from my ego. This is the definite moment to sit on my hands being an observer instead of a participant. + +I do see people get into trouble now by getting deeper and deeper into margin debt because they are so used to winning in the stock/crypto market in the past decade. But for people who have experienced the dotcom bubble, we all know the market can be brutal. For the same reason some stocks can fly to unthinkable highs, they can crash down to unthinkable lows. Your fundamental analysis or technical analysis or ability to predict the future doesn’t matter if the companies you invested in go bankrupt or lose most customers in a recession during a liquidity crisis. There’s so much uncertainty tomorrow. It’s okay to take some risks. But it’s never a good idea to sacrifice your financial security to get the dopamine highs of being right. + +This down market is a great time for me to reflect on what FatFire really means. To me, FatFire is not about being able to afford a luxurious lifestyle without working but about being able to focus on living a peaceful life without worrying about money. I spend way too much time thinking about money while I should really direct all this energy to more creative pursuits, time with friends and family and giving back to my community. The market volatility may impact my ability to make startup investments (if my concentrated portfolio goes down another 50+%), which is my supposed day job. But since my original motivation for making these investments is to put the excess capital into good use, this downtown could actually solve the excessive capital problem for me. If I can free up the time spent making these investments, it could open up other possibilities. I could travel more, program more, write more, think more, exercise more, catch up with friends more, etc. I don’t know what’s going to happen tomorrow but I am confident I will still have a lot of control of how I spend my time and we will have enough money to live on. If the stock market crashes further, I might no longer be a hectomillionaire but it’s just paper loss. It will not affect how I live my life. + +I know there are people out there who still have most of their net worth tied up in individual stocks or crypto. Barring special circumstances, my suggestion for these people is to take some chips off the table. If what’s tied up there is a life changing amount of money, diversify it into a balanced portfolio. Don’t sacrifice your financial independence for money you don’t need. Freedom is priceless. +Yet to turn on my heating + +It gets Around 11-12c (52f) in my bedroom at the moment. + +By just enduring the cold and getting used to it, With a nice down duvet/wool underblanket it's still very comfortable and the sleep quality actually is great.. + +I want to go further and toughen up more and get used to even lower temperature... + +The question is, what's the limit you can gradually can get used to with no ill effects and it affecting your sleep quality? + +Perhaps anyone is used to sleeping in extremely low temperatures and can share their experience? +Good afternoon, Apes! + +With MOASS getting nearer every day, have you thought about how you’re going to protecc your tendies during and after MOASS?  *Wut?  Protecc my tendies?  Wut mean?* + +When a big important bank fails, your assets are at risk.  Don’t take my word for it.  There’s a scene in Big Short where Baum and his team are at a restaurant talking about what happens when Morgan Stanley goes bankrupt.  Go see for yourself at 1:43:50.  + +[Baum & team discussing wut happens when Morgan Stanley goes bankrupt](https://preview.redd.it/khkr3meb5aw71.png?width=1417&format=png&auto=webp&s=5ae85fa12393e2fd140c51040e2c6d0604b584f9) + +**If Morgan Stanley goes bankrupt, all** ***their*** **assets in their accounts go onto Morgan Stanley’s books.**   + +>Vinny: Tell the bankruptcy court. If Morgan fails, all our accounts go on their balance sheet. +> +>Danny: This is crazy. Morgan makes a suckers bet and we pay their fucking gambling debt? + +Don’t let the banks steal your hard earned tendies! + +It's worse now than in 2008 because, after the very unpopular bailouts in 2008, the banks wrote some new rules about how to handle big bank failures.  u/Toxsic99 has a good write up about this: [https://www.reddit.com/r/Superstonk/comments/q3ifam/your\_tendies\_r\_at\_risk\_in\_a\_global\_and\_domestic/](https://www.reddit.com/r/Superstonk/comments/q3ifam/your_tendies_r_at_risk_in_a_global_and_domestic/) + +Long story short, a bank that fails gets to take your assets. (In exchange, you get stock in the failed bank. *Gee thanks!*) So you *should* protecc your tendies.  How?  Two strategies:  + +1. Avoid banks that might go broke. +2. When you cash out after diamond handing to the moon, protecc your cash by maximizing your insured cash. + +# Insurance?  Where do we get insurance? + +Assets in the US (apologies international apes, America First for this post) are typically covered by different insurance policies. These do apply to international apes who have assets in an insured bank. + +**FDIC (Federal Deposit Insurance Corporation)** + +The FDIC was created to give us confidence in our nation’s financial system. (HA!) They provide insurance for *most* bank deposits.  FDIC insures $250,000 per depositor, per bank, for each account ownership category.  Let’s say you paper hand 1 share at $2,000,000 ($2M).  If you put that money into your checking account, only $250,000 ($250k) is insured.  If your bank goes tits up, they take your $2M and the FDIC gives you $250k back.  If your checking account is a joint checking with a spouse, then that account is insured for $500k (for a joint account with 2 depositors).  So, if you and your spouse each have an individual checking account and a joint checking account, then you can maximize your insured amount up to $1,000,000. + +|Account|FDIC Insured Amount| +|:-|:-| +|Your Checking Account|$250,000 ($250k)| +|Spouse's Checking Account|$250,000 ($250k)| +|Joint Checking Account|$500,000 ($500k)| +|**Total FDIC Insured Cash**|**$1,000,000 ($1M)**| + +You can protecc more tendies by having different account types. What are different account types? In order of most to least common: + +* Checking accounts +* Savings accounts +* Money Market Deposit Accounts (MMDAs) +* Time deposits such as certificates of deposit (CDs) +* Negotiable Order of Withdrawal (NOW) accounts +* Cashier's checks, money orders, and other official items ssued by a bank + +By having separate Savings accounts (again, in your name, your spouse's name, and a joint saving account), you can protect another $1M tendies. + +If you don't have a spouse (or don't trust your spouse), then you'll need to open up more accounts at different banks. Each bank in insured separately. + +If you have kids, joint accounts with them are also insured. You + 1 kid = $500k. You + Spouse + 1 kid = $750k. + +Sauce: [https://www.fdic.gov/resources/deposit-insurance/brochures/deposits-at-a-glance/](https://www.fdic.gov/resources/deposit-insurance/brochures/deposits-at-a-glance/) + +**SIPC (Securities Investor Protection Corporation)** + +The FDIC only insures cash at FDIC insured banks. SIPC insures your cash and securities (e.g., stonks). SIPC provides your brokerage insurance for stocks, bonds, CD, etc... in the event your broker goes bust. SIPC insurance limit is $500,000 (which includes up to $250,000 in cash) per *ownership* *capacity*. Ownership capacity basically separates out different types of accounts and groups same ones together for the purpose of insurance. What are the different ownership capacities? + +* Individual account; +* Joint account; +* An account for a corporation; +* An account for a trust created under state law; +* An individual retirement account; +* A Roth individual retirement account; +* An account held by an executor for an estate; and +* An account held by a guardian for a ward or minor. + +So, if you create two individual accounts at a broker, your total insured value across both accounts is $500k. In order to get more coverage, you need to branch out to different brokers. + +Let's say you hold 2 shares of GME each worth $2M ($4M total). If your broker goes bust, SIPC gives you $500k. + +Let's say you sold 1 share for $2M so you have $2M in cash at the broker plus 1 GME share worth $2M. If your broker goes bust, SIPC gives you $500k. + +Let's say you sold 2 shares for $2M each so you have $4M in cash at the broker plus 1 GME share worth $2M. If your broker goes bust, SIPC gives you $250k. + +*See why it's important to protecc your tendies?* + +Sauces: [https://www.sipc.org/for-investors/what-sipc-protects](https://www.sipc.org/for-investors/what-sipc-protects) & [https://www.sipc.org/for-investors/investors-with-multiple-accounts](https://www.sipc.org/for-investors/investors-with-multiple-accounts) + +**NCUA (National Credit Union Administration)** + +If your money is at a credit union (good for you!), then your assets are insured by the NCUA (for credit unions) instead of FDIC (for banks). Similar to the FDIC, the NCUA insures accounts up to $250,000 ($250k) per owner per account type per credit union. + +Sauce: [https://www.ncua.gov/files/publications/guides-manuals/NCUAHowYourAcctInsured.pdf](https://www.ncua.gov/files/publications/guides-manuals/NCUAHowYourAcctInsured.pdf) + +See also this Wallet Hub article which is pretty easy to read: [https://wallethub.com/edu/sa/ncua-fdic-insurance-limits/10877](https://wallethub.com/edu/sa/ncua-fdic-insurance-limits/10877) + +# Wut do? + +I'll tell you what I'm doing. But this is Reddit so don't take this as advice of any kind. **You do you.** I'm going to protecc my tendies by spreading the cash out across different institutions and accounts to maximize how much I can protecc and keep. + +*First*, I'm putting more assets to banks that I think will survive MOASS. (Umm... not BofA.) Also, credit unions. I've started opening accounts now to set up the money transfer with my broker so that I can move assets as fast as I can. The longer assets sit somewhere uninsured, the more risk those get stolen by some failing financial institution. + +*Second*, for assets at banks that might be at risk (\*cough\* Wells Fargo \*cough\*), I have accounts ready to move assets into so the values stay under the FDIC (and NCUA) insurance limits of $250k individual and $500k joint. 3 Checking accounts (Me + Spouse + Joint) and 3 Savings accounts (Me + Spouse + Joint) can hold $2M in insured cash. (That's still not how much 1 share will sell for.) You can open up joint savings accounts with your kids (if you got them) to get more money covered by insurance. + +*Third*, banks that are more likely to survive MOASS (maybe Fidelity?) will hold extra assets. If you sell 1 share at $10M, that's $10M that you're going to need someplace safer to hold the extra cash. Choose your safe house wisely. + +# Globally & Domestically Systemically Important Banks (GSIB / DSIB) + +Lastly, Wikipedia has a nice list of the [Systemically Important Banks](https://en.wikipedia.org/wiki/List_of_systemically_important_banks). You can get the list of [Global Systemically Important Banks](https://www.fsb.org/2020/11/2020-list-of-global-systemically-important-banks-g-sibs/) from the Financial Stability Board. + +These systemically important banks get to use the new "Bail In" rules u/Toxsic99 wrote about. (TADR: When systemically important bank fails, bank takes your money to pay off their debts and recapitalize the bank. FDIC, SIPC, and NCUA insurance pays you back up to their insured limits. You might get shares in the recapitalized bank that is probably still run by the same people who ran it into the ground and then took your money.) + +Please give u/Toxsic99 and [his post about your at risk tendies](https://www.reddit.com/r/Superstonk/comments/q3ifam/your_tendies_r_at_risk_in_a_global_and_domestic/) some love because understanding what will happen let's us be prepared. These "bail in" rules exist for a reason and they're definitely not for "our protection". +Hey, I know with all the people with 30-60k looking to get involved here there is a lot of pressure to just pull the trigger and get your feet wet. Also, with a lot of people who have no experience and only some knowledge about what makes a good deal, I think it's easy to fall into a trap of buying something that appears to be a good deal but is not. + + +I figured I'd share a listing I found that had an open house I drove to, and share my thoughts. Ultimately I think it is highly overpriced and that without intense appreciation of the property values this will likely be a waste of money. + + +https://www.zillow.com/homedetails/354-Paper-Mill-Rd-Newark-DE-19711/72936279_zpid/ + + +About the property: +-2br/2bth home +-85 years old +-last sold for $85k in 2015 +-listed for $269k as of January 2020 + + +Why am I saying this is a noob trap? +-Well, it's very close to a mid-large size university (within 1 mile) which makes it appear attractive to rent +-the pictures are great, with awesome lighting +-new carpet, good-looking kitchen +-fresh coat of paint + + +The numbers: +At a purchase price of 269k, let's assume 20% down, and 8-12k closing costs. That's 62-66k into the deal. + + +Loan of 215k, assume you have excellent credit, as I'm sure most ambitious investors here do, and get 4% APR in this low rate environment. Loan (debt+principal will be about $1100 per month). PITI of $1300-1400 when considering the taxes and insurance in this area, potentially more. + + +If you rent the whole house, you will likely command about $1300 in rent (that's at least what it was at for the last 5 years, and per room this area is about $650 each). + + +Hopefully at this point you've realized that this is problematic. If you've spent $60,000 for the likely chance that someone else pays your mortgage, your money is not being utilized and your ROI will be quite poor. Not to mention an unforeseen expense or likely deferred maintenance cost will absolutely destroy any returns you were seeing. + + +Long post, not super structured, but hopefully this was helpful for those of you looking to get your feet wet. + + +Disclaimer: I am still small potatoes. +I recently started a new role around 3 months ago in Sydney and whilst it’s challenging, I have been learning a lot. I have recently got an offer to jump ship for a similar role with around 40-50% more money at a bigger company. The industry I work in is also quite small so I think I might burn a lot of bridges by going so soon. What should I do? + +Any comments or recommendations are appreciated. +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! + +Because this investigative report has broader implications than just GME, a PDF version with a non-GME intro can be [found here](https://github.com/Slyver12/iterative_treemap_megacorp/blob/main/how_to_take_over_the_world_in_3M_steps_part_1_Finkle_is_Einhorn.pdf). + +# Part 1: [Finkle Is Einhorn](https://www.youtube.com/watch?v=Y4fI3TruAOw) + +&#x200B; + +**GME** **BBEMG = GameStop Big Bad End Monster Guy** (or as I like to call it; never pass up the chance to modify a perfectly good acronym to create a palindrome) + +**AKA** + +&#x200B; + +https://preview.redd.it/jzvqu36jr0f71.png?width=300&format=png&auto=webp&s=9bfb7d6d060acfd564ab803ef113034f735726ad + +Who is at the end of the GME saga? Is it really Citadel? Is it the DTC, SEC, etc.? Why has MOASS not happened yet? What game is the Evil Monster at the end playing and how do we stop it? Who **OWNS** this mess? With what this report exposes, I hope to bring us closer to answering these questions. The evidence uncovered in my investigation suggests some pretty serious problems with the entire structure of what we call “the free market”. It suggests that there is nothing “free” about it all, in fact it may be as controlled (and owned) as The Matrix itself. I highly recommend the !buckleup! tag for this one, and please keep your hands and feet inside the cart at all times. + +# 0.1 Preamble + +A few months ago Citadel was the BBEG and BlackRock was our Angel, swooping in all dark and sinister, but totally on our side with their Sword of Deep Pocket Whaleness. Everyone kept saying it, but I just wasn’t buying it. Why would the two Big Daddies controlling the long and short side of the market be in opposition? They have been playing nice with each other for decades to great mutual benefit. Why would that change? Aren’t they both in the “too big to fail” category? + +I began this journey then. Most of this I wrote a couple months ago or more, and have been sitting on it. Not because I didn’t want to share, but because the investigation had gotten so big I wanted to finish it before I presented my findings so I could keep it all in context. Well, that didn’t happen. I’ve written over a hundred pages of primary source findings and I’m really no where near finished, but I think I am finished enough to begin presenting the evidence. + +This investigation is primarily on ***ownership***; who owns what; what benefits and responsibilities does ownership give, both by the law, and within the scope of what is realistic. Since this is a report on *current ownership*, even though it is topical to GME which we are all invested in, it isn’t really about personal finance, and should not be taken as financial advice. + +# 0.2 The Long And The Short Of It + +Before I begin, it is necessary to understand the basics of “going long” or “selling short” on a stock. A [*long position*](https://www.investopedia.com/terms/l/long.asp) is basically placing a bet that a stock’s value will increase. A [*short sale*](https://www.investopedia.com/terms/s/shortselling.asp) is basically placing a bet that the stock’s value will decrease. Of course that is an oversimplification, but it's all you need to know before beginning this report. + +# 1.0 Your Favorite Companies! + +Unless you shop at Walmart, Costco, or Amazon exclusively (no judgments!), you probably buy your clothes from one store, your groceries from another, and your electronic devices from a third. Maybe you even buy these consumables at multiple different stores in each category. All of these different retailers and brands obviously have nothing in common; oftentimes they are fierce competitors. + +As smart shoppers we find the stores with the best prices, each store hawking their wares with ads and sales, all vying with each other for our hard earned cash. When we aren’t shopping or working we spend a fair bit of our free time watching shows on competing cable stations or the online equivalent (Netflix e.g.), or reading news through a plethora of competing news sites that are trying to get us excited with eye popping headlines, or maybe interacting with our friends, relatives, and the world at large through games, social media platforms, or other interactive media. + +But are these really different companies competing for your time and money in a free market; full of original ideas and products? Or has the entire concept of a competitive market, and the free flow of information and trade become nothing more than a *game of pretend* we are forced to play? Does the market really encourage *any* innovator to introduce their ideas for public judgment? Or does judgment come long before the public even knows about an innovation? (E.g. [naked shorting](https://www.wraltechwire.com/2020/07/21/redhill-biopharma-requests-sec-review-of-suspicious-trading-activity/) biotech [research start-ups](https://www.reddit.com/r/Superstonk/comments/ndrjl8/naked_short_sellers_have_set_our_cancer_research/), or [EVtech companies](https://www.reddit.com/r/Superstonk/comments/of8o42/shitadel_and_friends_are_shorting_innovative_ev/).) + +Does the money from every purchase go into the same corporate pocket, no matter which sign hangs over the door? + +# 1.1 Your Favorite Companies? + +There are certain “investment firms”, such as Blackrock, Vanguard, State Street Corporation, JP Morgan, BofA, Fidelity (FMR LLC), Northern Trust Corp, etc., etc. who have purchased large percentages of stock in every company in America that has a name big enough to make a blip on their radar (and many that have yet to do so). When you add up the ownership of all these investment firms into any random production or retail company it totals anywhere from a very large minority (40%+) all the way up to nearly 100%. + +Examples: [Intel](https://www.wallstreetzen.com/stocks/us/nasdaq/intc/ownership) 63% and [AMD](https://www.wallstreetzen.com/stocks/us/nasdaq/amd/ownership) 67% (note that these are not the complete list, just the top ten): + +&#x200B; + +https://preview.redd.it/7rukpcrdr0f71.png?width=588&format=png&auto=webp&s=625ff6bc5aaf8bc2a6496cc262cdd9c280cbeb73 + +Here are a few more that show the approximate **institutional ownership** of some mostly random corporations; sourced from [finance.yahoo.com](https://finance.yahoo.com/) and [www.wallstreetzen.com](http://www.wallstreetzen.com/). + +&#x200B; + +* [Walmart](https://finance.yahoo.com/quote/WMT/holders?p=WMT) 43% +* [Target](https://finance.yahoo.com/quote/TGT/holders?p=TGT) 83% +* [Apple](https://finance.yahoo.com/quote/AAPL/holders?p=AAPL) 59% +* [Tesla](https://finance.yahoo.com/quote/TSLA/holders?p=TSLA) 45% +* [Facebook](https://finance.yahoo.com/quote/FB/holders?p=FB) 81% +* [Google](https://finance.yahoo.com/quote/GOOG/holders?p=GOOG) 70% +* [Amazon](https://finance.yahoo.com/quote/AMZN/holders?p=AMZN) 65% +* [Disney](https://finance.yahoo.com/quote/DIS/holders?p=DIS) 67% +* National Amusements (traded though its subsidiary: [ViacomCBS](https://finance.yahoo.com/quote/VIAC/holders?p=VIAC) 88%) +* [AT&T](https://finance.yahoo.com/quote/T/holders?p=T) 53% +* [Comcast](https://finance.yahoo.com/quote/CMCSA/holders?p=CMCSA) 86% +* [News Corp](https://finance.yahoo.com/quote/NWSA/holders?p=NWSA) 76% +* [Sinclair Broadcasting Group](https://finance.yahoo.com/quote/SBGI/holders?p=SBGI) 88% + +Some of the institutional ownership is tied up in funds, but the majority of this ownership is in long term investment. This not only gives these investment firms collectively a majority share in equity and profits, but also voting rights. For the vast majority of the companies we buy from, these institutions have (if taken together) the majority voting rights to decide who runs the companies and how they handle their assets. Whether or not they use those voting rights to make decisions for these companies is not the focus of this research. I am only pointing out that the ownership trail suggests that *they can if they want to*. + +This report will focus primarily on American or American based international companies, but this institutional ownership is not restricted to just these. While some of the data (that I know how to access) gets a little more muddy, here are a couple examples of foreign based companies that are owned in large part by the exact same investors: + +&#x200B; + +* [Alibaba](https://finance.yahoo.com/quote/BABA/holders?p=BABA) 38% (China) +* [Prudential](https://finance.yahoo.com/quote/PRU/holders?p=PRU) 57% (UK) +* [Teva Pharmaceuticals](https://finance.yahoo.com/quote/TEVA/holders?p=TEVA) 53% (Israel) +* [FirstRand](https://finance.yahoo.com/quote/FSR.JO/holders?p=FSR.JO) 50% (South Africa) + +The list, foreign and domestic, goes on, and on, and on, and on… + +Forever. + +# 2.0 The Company Your Company Keeps (That Keeps Your Company) + +By looking at the investment data, since each large company is primarily owned by most of the same investment firms, it would be reasonable to assume that the real competition is in the investment firms themselves. That it is they who compete with each other for profits, and argue over who gets which part of the market. They fight with each other over which stores and brands get to rise to the top, and who gets shorted out of existence. + +This assumption would be completely wrong. + +All the investment groups I listed above, and every single one of those not listed that I have been able to find records for (including all privately owned), all own just as much of a share of each other as they do in all the other world's corporations. Here are just a few examples (from [wallstreetzen](https://www.wallstreetzen.com/stocks/us/nyse/blk/ownership)): + +&#x200B; + +https://preview.redd.it/ltk07gmar0f71.png?width=588&format=png&auto=webp&s=2911940816204311cab8aefc66d3315c6d8107d0 + +Here are a few more: [JP Morgan](https://finance.yahoo.com/quote/JPM/holders), [Charles Schwab](https://www.wallstreetzen.com/stocks/us/nyse/schw/ownership), [Ameriprise Financial Inc](https://www.wallstreetzen.com/stocks/us/nyse/amp/ownership), [Bank of New York Mellon](https://www.wallstreetzen.com/stocks/us/nyse/bk/ownership). I’ll get to Vanguard in section 2.3, but here is ownership in a [sample Vanguard fund](https://www.vanguard.com/pub/Pdf/sai040.pdf) (Investment holdings start on page 34). + +&#x200B; + +https://preview.redd.it/e04a5q59r0f71.png?width=782&format=png&auto=webp&s=5af4eac82728f7b44dc692e1efed776aa9a3d8f4 + +By all appearances, at least on the large scale, the connectivity of the investment firm network seems to be very close to all nodes are directly connected to all nodes. A big black spider web of corporations. + +# 2.1 Who’s The Real Spiderman? + +https://preview.redd.it/ungn7yk5r0f71.png?width=828&format=png&auto=webp&s=e572172309906149dc151b25f771f55bca5c17e0 + +This shared ownership seems shocking (at least it shocked the shit outta me) but the full implications aren’t obvious without some analysis. I will start with a simple math example (really). + +# 2.1.1 Mr. Hankey The Christmas Poo + +https://preview.redd.it/snrvmqp4r0f71.png?width=300&format=png&auto=webp&s=b0ef1081eb6cba7c95022d327135b823d1464869 + +Let's say I own an investment company named **Money Inc**.. I’m competing for investor monies with my friend Cartman who owns **Fat Money**. Down the street is a former friend of ours named Kenny. He owns **Money Castle.** Kenny is short, has a speech impediment, and steals some of our customers sometimes. + +On the edge of town there is a really nice big fat juicy new up and comer company named **HankeyPoo** that I want to invest in. I really like the stock so I buy 20% of the company. I tell Cartman about it and he agrees with my assessment. He buys 20% as well. Unfortunately Kenny got (down) wind and buys up another 20%. As much as I don’t like Kenny, he does have a nose for investment opportunities. HankeyPoo now has 60% institutional ownership. Combined our ownership gives us a lot of control over what kind of shit goes on at the company if we choose to use our "Poo" leverage, though there is little apparent motivation for us to work together since we are obviously competitors. The rest of the town loves HankeyPoo. They seem to think his shit don’t stink and scoop up 20% of “The Poo” (Retail). Hankey decided to keep 20% of The Poo in house (Insider). + +Here are ownership maps of what these four companies look like: + +&#x200B; + +https://preview.redd.it/gp1o4mv3r0f71.png?width=1235&format=png&auto=webp&s=7c483122f2c01ff8259d9f83b7e214a0fa33cdef + +These pictures are created by an ownership Treemap program I wrote. The code and the database can be [found on github](https://github.com/Slyver12/iterative_treemap_megacorp). A Treemap is a graphical display of data that shows a distribution by percent of something in 2D rectangles. In this case it is relative percent ownership of voting stock. Each sub-rectangle is, by area, a percent of the area of the whole square. For example, in the case of HankeyPoo above it shows that Money Inc (red), Fat Money (green), Money Castle (blue), Retail (white) and Insider (gray, Mr. Hankey himself) all own 20% each of the voting stock of HankeyPoo since their area is in each case 20% of the area of the larger containing square. By contrast, in the case of the three investment companies above; Money Inc, Fat Money, and Money Castle, it shows that they are 100% self owned; they are clearly different companies. + +Pleased with my HankeyPoo investment, and having some extra cash, I look elsewhere for investment opportunities. I’ve always really liked Cartman’s company. He may be a slob, but he’s a savvy slob. I decide to buy up a third of the total shares in his company. Being nice, I let him know. He decides that’s a good idea and buys up 33% of mine as well. Neither of us like Kenny very much so we each decide to snag up as much of his company as we can. We buy out 33% each for a total of 66% ownership. Unbeknownst to us, Kenny, being not as stupid as we thought despite his speech impediment, bought up 33% of each of our companies as well. + +As far as HankeyPoo is concerned, we each still own 20% of that company, even though we only own 33% of our own company. For example; I own 1/5 of 1/3 = 1/15 through my own company, and 1/5 of 1/3 through both Cartman’s and Kenny’s companies. That’s 1/15 + 1/15 + 1/15 = 3/15 = 1/5 = 20%. Together we still own 60% and the voting majority. Here is the new ownership treemap: + +&#x200B; + +https://preview.redd.it/6rfyk1m2r0f71.png?width=1235&format=png&auto=webp&s=a7735b87580c80b44ce7d82e6d2cc807eb56906d + +While I may still be CEO of my company Money Inc., I have to respect that I have broader interests now. It behooves me to coordinate and work with both Cartman and unfortunately Kenny since its really difficult to tell, by ownership anyways, who owns which company. As far as how invested we are in both each other and HankeyPoo, we might as well be one company with three different “investor” doors and one “retail” door. + +If HankeyPoo does well (and we’ll make sure it does, with "brown gift bags" at Christmas time) we will have plenty of money to invest in other companies in the same manner; all coordinating for the best interests of each other and of course the corporations we deem worthy. For any companies we don’t like, maybe just because they won’t sell us controlling interest, or we just think their shit stinks, we’ll have the capital to short them out of existence. Any competition to the corporations we own gets deleted if they choose not to join us. If they play ball, they can join our “free market”. All we would need to ensure a dominant victory in our little version of “capitalism” is a little help from the media to drive appropriate emotional responses from the public; lean them towards a company or away from it with selective advertising. It’s a good thing our companies already own the local news paper! + +# 2.1.2 The Hanky Panky Poo Poo BlackRock Shuffle + +With HankeyPoo in mind, lets look at a Treemap of percent ownership of a few different investment companies. Lets start with BlackRock, the largest institutional investor in the world. + +When you walk up to the door, BlackRock looks like this: + +&#x200B; + +https://preview.redd.it/bscgrp40r0f71.png?width=600&format=png&auto=webp&s=d660b758307f7bc1674d310b304836efd52a98b7 + +It’s a big, bad ass company, and Larry Fink is the all powerful deity in control of assets worth almost half of America’s GDP. But does Larry own BlackRock? When you look into the actual ownership, the voting rights, equity, etc. it looks like this (from [wallstreetzen](https://www.wallstreetzen.com/stocks/us/nyse/blk/ownership)): + +&#x200B; + +https://preview.redd.it/xn4xc0ezq0f71.png?width=600&format=png&auto=webp&s=1af4747a2baec236de1e57f0d5d194b34cb214a3 + +It looks to me like Merrill Lynch owns BlackRock for the most part. BlackRock only owns 6.5% of BlackRock. Hell, even Vanguard owns more. + +But this is an illusion as Merrill Lynch is a wholly owned subsidiary of Bank of America. So BofA is the real owner of this megamachine. Well, not really, because Bank of America doesn’t own Bank of America. When I add the actual ownership of Merrill Lynch (BofA) into the Treemap it looks like this: + +&#x200B; + +https://preview.redd.it/2f6mcl0yq0f71.png?width=600&format=png&auto=webp&s=7d351316bf45d66271443f8af1c06247bceeada5 + +We see BlackRock actually owns more BlackRock than we thought through ownership of Merrill Lynch. Quite a bit of BR is owned by Berkshire Hathaway. I delved into Berkshire a bit and there are interesting things to say about it, but I won’t discuss it in this report. This apparent ownership is still illusory, since all of the companies other than Merrill Lynch/BofA are also owned by other companies. If I fill out the rest of the Treemap with their ownership it looks like this: + +&#x200B; + +https://preview.redd.it/d6nl01vwq0f71.png?width=600&format=png&auto=webp&s=a117de7ede5d72acb884ebaa59f891efaf35dcc8 + +So here at last is BlackRocks ownership. Except of course its not because each of these companies are also owned by others. If I fill in all of these companies with their ownership it looks like this: + +&#x200B; + +https://preview.redd.it/zv51nkawq0f71.png?width=600&format=png&auto=webp&s=6639f809139077e0406ca8627e1a5e8f846065fc + +As you keep filling in the ownership further and further eventually it gets below the resolution of the screen, or your eye, or the wavelength of light. For a simple example I will show this iterative “actual ownership” replacement for HankeyPoo Inc. + +&#x200B; + +https://preview.redd.it/exkp0bxuq0f71.png?width=830&format=png&auto=webp&s=943475e0ceffae95e8bcfb33b438a3dc7bd5cee3 + +Using this same process for BlackRock it looks something like this: + +&#x200B; + +https://preview.redd.it/vjgejmstq0f71.png?width=600&format=png&auto=webp&s=7011977c49875fe04b880e0f45f83a3423b8fcbe + +Welcome to BlackRock. The name is certainly fitting. In this Treemap the white represents Retail investors, the gray represents non-institutional insider investment (the actual people we think of as "owners") and the black represents the Big Bad megamachine: **Megacorp.** (*Spoiler alert*: it’s not really the Big Bad. We have a ways to go for that reveal.) + +In order to justify this model, I need to justify some of the larger contiguous chunks of black that have no white or gray speckles. These large black areas are due to a few reasons: + +&#x200B; + +1. Some of it is due to an incomplete database for some smaller contributors to Megacorp. +2. Some of it is because my computer pukes on me when I try to force my inefficient Treemap algorithm through it at too great an iteration depth. +3. Some of it is “Other Institutions” that represents either the balance between the top 25 institutional holders and the rest (also all Megacorp), or stock that is tied up in mutual funds (which means the actual institutional ownership of some of the larger institutions may be higher). +4. The rest of it is investment institutions without public stock offerings (Fidelity e.g.). + +1, 2, and 3 add only very small sprinkles and are otherwise irrelevant to the overall map; their lack of inclusion is reasonably justified. A more complete database would produce the same results with a few more small sprinkles mixed in. + +As for 4, that requires further justification. Those black contributions could potentially be all gray for example (100% owned by insiders). Trying to find the real ownership of these non-public companies (like Fidelity) is like trying to pull out your own teeth with your fingers; its slippery, a little painful, you look silly trying, and its ultimately probably impossible. Maybe someone knows exactly where to look for this information, but I do not. + +# 2.2 FMR LLC aka Fidelity (miniboss) + +**TL;DR for section 2.2**: Some of the large black parts of the graph are investment corporations which are not publicly offered and thus do not report who owns their voting stock (that I could find). In this section I investigate Fidelity, one of the largest asset managers in the U.S. and make a case for why the black is justified, not only for Fidelity (the largest contributor by far), but by extension for all private investment institutions. I touch on this private ownership again in section 4 (Citadel). These large black sections should have some gray in them (likely small insider ownership) and sprinkles of white (from the member corporations that make up the real ownership) but are otherwise justified as the black hole that is Megacorp. + +Other than making this case, section 2.2 is not fundamental to the larger picture. + +\----------------------- + +Because Fidelity is one of the largest asset managers in the world, I investigated it a bit when putting together my database to try to make a more accurate map. I will go over my findings briefly (my investigation into this could have been more extensive). + +My core research tool for this investigation is a [Statement of Additional Information](https://www.amegybank.com/content/dam/abt/amegybank/docs/pws/Fidelity%20Statement%20of%20Additional%20Information.pdf) (SAI) from the Fidelity parent company FMR LLC. + +I looked through this source trying to answer the following questions: + +&#x200B; + +1. Who are the primary investors in FMR LLC funds? +2. What rights and influence do institutional investors have over fund management as a portion of the size of their investment in that fund? +3. How much voting stock of FMR LLC is owned by institutions? +4. How much voting stock is owned by “the owners”? + +The first questions are important because a great deal of the over [$10 Trillion dollars](https://www.fidelity.com/about-fidelity/our-company/) in managed assets in FMR LLC subsidiaries are in funds. I looked in the [15 U.S. Code Title 15 – Commerce and Trade](https://www.law.cornell.edu/uscode/text/15), but it was not clear and time is not infinite: there are bigger fish to fry (I did find a juicy tidbit I will disclose later though, so all was not in vain). Fortunately some hints at the answers are found within the SAI itself. + +Page 22: + +>**Fidelity® funds are overseen by different Boards of Trustees**. The funds’ Board oversees Fidelity’s investment-grade bond, money market, asset allocation and certain equity funds, and other Boards oversee Fidelity’s high income and other equity funds. The asset allocation funds may invest in Fidelity® funds that are overseen by such other Boards. **The use of separate Boards, each with its own committee structure, allows the Trustees of each group of Fidelity® funds to focus on the unique issues of the funds they oversee**, including common research, investment, and operational issues. On occasion, the separate Boards establish joint committees to address issues of overlapping consequences for the Fidelity® funds overseen by each Board + +So each fund (or fund group?) is managed separately. Some trustees are listed (starting on page 22). There are both “Interested\*” and “Independent” Trustees. Most of the Trustees are Independent. So what do the *owners* of the actual company called Fidelity do, pick out bathroom towels? + +\* Interested Trustee is defined on page 22 as: + +>Determined to be an “Interested Trustee” by virtue of, among other things, his or her affiliation with the trust or various entities under common control with FMR. + +The main difference I see looking at the descriptions is the Interested are upper management of FMR and the Independent are not employed by FMR. There are only two Interested listed, and eight Independent. It is unclear which fund this board of Trustees manages. If its “all”, that goes against what is said above about each fund being managed by its own board. Regardless, there are many more on the Board that are not otherwise affiliated with FMR than are. The Independents are also largely affiliated with other members of Megacorp. + +Who owns the voting stock of FMR LLC? According to page 35: + +>FMR LLC, as successor by merger to FMR Corp., is the ultimate parent company of FMR, FMR UK, Fidelity Management & Research (Hong Kong) Limited (FMR H.K.), and Fidelity Management & Research (Japan) Limited (FMR Japan). **The voting common shares of FMR LLC are divided into two series. Series B is held predominantly by members of the Johnson family, including Abigail P. Johnson, directly or through trusts, and is entitled to 49% of the vote on any matter acted upon by the voting common shares. Series A is held predominantly by non-Johnson family member employees of FMR LLC and its affiliates and is entitled to 51% of the vote on any such matter.** The Johnson family group and all other Series B shareholders have entered into a shareholders’ voting agreement under which all Series B shares will be voted in accordance with the majority vote of Series 35 B shares. Under the 1940 Act, **control of a company is presumed where one individual or group of individuals owns more than 25% of the voting securities of that company.** Therefore, through their ownership of voting common shares and the execution of the shareholders’ voting agreement, members of **the Johnson family may be deemed**, under the 1940 Act, to form **a controlling group** with respect to FMR LLC. + +So the Johnson family owns a “predominant” number of Series B stock, which is entitled (in total) to up to 49% of the vote. The majority of voting stock (51%) is the Series A stock, which is held by other entities, notably FMR LLC’s “[affiliates](https://www.investopedia.com/terms/a/affiliate.asp)” (which could be anyone). Note it also says that the Johnson family *may be deemed* to form a controlling group (they “may” have 25% voting stock AND more than anyone else, or they may not). The word “may” is very important. It doesn’t say “shall be deemed”, it says “may be deemed”. In official documents like this, words matter a great deal as I will show with examples in later sections. The word “may,” could be [imperative](https://legal-dictionary.thefreedictionary.com/May), or it could be [permissive](https://www.law.cornell.edu/wex/may); it is ambiguous in this statement without further clarification. + +So is the Johnson family actually a controlling group? This official document does not state that clearly, so it is unknown if they even *control* the company, much less own it. In fact it states they do not own it, owning **at most** 49% of the FMR voting stock (it implies it is less, maybe even a lot less). The statement of ownership of funds within this document makes it clear the Johnsons do not own a majority of any fund either (beginning on page 32). + +If you look at the fund investors list its almost all banks. Banks are 100% Grade AAA pure Megacorp as I will show later. + +This is a small snippet of a fund ownership. Note the “Treasury Portfolio” as it will come into play in later sections. + +&#x200B; + +https://preview.redd.it/6ijf37vn01f71.png?width=814&format=png&auto=webp&s=98d3fc46643de03a3fee16c84963e0baa9ee2205 + +So what do the “owners” of FMR LLC do? (page 35): + +>At present, the primary business activities of FMR LLC and its subsidiaries are: +> +>(i) the provision of investment advisory, management, shareholder, investment information and assistance and certain fiduciary services for individual and institutional investors; + +Give advice and information. + +>(ii) the provision of securities brokerage services; + +Act as a broker. + +>(iii) the management and development of real estate; + +Pick out bathroom towels? + +>(iv) the investment in and operation of a number of emerging businesses. + +Invest in (and operate???) emerging businesses. + +That last may be significant, if rather vague. So I guess the managers do something. It still isn’t perfectly clear how much operational control the managers actually have. It also isn’t clear how easy it is to overrule them if some other entity wishes it; perhaps an entity with possibly even more FMR LLC shares, and/or majority monetary investment “control” of a fund. + +Since the vast majority of FMR LLC monetary control seems to lie in the fund trustees, which seem to be membered by different persons depending on the fund, and are not necessarily controlled by the owners of Fidelity, I think it is safe to assume that FMR LLC is, at least in large part, Megacorp as defined; both in the money invested in the company itself (voting shares), and in ultimate control of much of the assets. I believe the Black on my graph is justified. It should probably have some gray (Johnson Insider), though there is no way to determine how much from the information I have seen so far, and certainly will have no Retail white (as a measure of ownership or control). + +\---------------------------------------- + +**This is not the end of part 1!!!** Stupid 20 image limit killed me. + +Edit6: Superstonk mod approved [part 2 here](https://www.reddit.com/r/Superstonk/comments/ows1a2/will_the_real_gme_bbemg_please_stand_up_cont_part/). We are still not sure why it kept getting deleted. I think it was probably a link that was disapproved by a larger Reddit wide automod (though no one has any idea which link it might be). If there are still problems, there are links to two sources for the pdf in the edits below. + +Edit5: A mod on DDintoGME approved my [second post here](https://www.reddit.com/r/DDintoGME/comments/owrq55/will_the_real_gme_bbemg_please_stand_up_part_1/). Please let me know if it works. Maybe I can get it to work on Superstonk as well. + +Edit: The part 2 post seems to be getting removed for reasons that are unapparent (works perfectly fine for me). I will figure out why and get a working "part 2" link up. In the meantime, [part 2 can be found in the PDF](https://github.com/Slyver12/iterative_treemap_megacorp/blob/main/how_to_take_over_the_world_in_3M_steps_part_1_Finkle_is_Einhorn.pdf) (also linked at the top of the post). Only the intro is different between the pdf and these posts. A few people have said the pdf doesn't fully load for them on github. Most have said it works just fine. It can be downloaded from there as well if you can't get it to fully load. + +Edit2: Please let me know if this [link to part 2](https://www.reddit.com/r/Superstonk/comments/ows1a2/will_the_real_gme_bbemg_please_stand_up_cont_part/) (of part 1). I think the title was the problem (duplicate title?) Please tell me this fixed it! + +Edit3: I've contacted the mods to hopefully figure out why I can't post part 2 (of part 1). If and when they get back to me I will get the link up. In the meantime, please use the pdf hosted on github (linked above). + +Edit4: Here is an [alternate link](https://www.docdroid.net/gUhs7kI/how-to-take-over-the-world-in-3m-easy-steps-part-1-finkle-is-einhorn-pdf) to the pdf since some people are having difficulty viewing it on github. I really hope a mod gets back to me on why part 2 won't post. :( +Before an unfortunate death. + +Before libelous slander against a Chairman of a publicly traded company. + +After that same Chairman and Company gave their retail in store employees stock grants. + +After that Company created their first NFT offering and sold out the first day of selling. + +While that Company’s share price dropped approximately 40% on no specific company news. + +Remember when GME removed their credit rating? That was approximately 96 hours ago. What the hell timeline are we living in. + +🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 +Starbucks Chairman Howard Shultz said the coffee chain plans to incorporate blockchain technology and digital currencies into its long-term payment technology strategy, and hopes to "expand digital customer relationships." + +Shultz does not, however, believe that bitcoin will play a role in this strategy, remarking that he didn't believe the original cryptocurrency would "be a currency today or in the future." + +He clarified that **Starbucks is not developing a digital currency** or announcing an investment in blockchain or cryptocurrencies, but would like to use its stature to lend credibility to these technologies. + +https://www.coindesk.com/starbucks-chairman-hot-blockchain-cold-bitcoin/ + +Starbucks' Howard Schultz: A 'trusted' digital currency is coming, but it won't be bitcoin + +**"One or a few legitimate" cryptocurrencies are coming, but bitcoin is not one of them**, according to the Starbucks executive chairman. + +Schultz sees potential in blockchain, the online ledger technology underlying digital currencies. + +https://www.cnbc.com/2018/01/26/starbucks-schultz-a-digital-currency-is-coming-but-wont-be-bitcoin.html + +STARBUCKS is set to become one of the first major high street shops to accept cryptocurrency after it announced plans to incorporate blockchain as part of its payment strategy, but **in a snub it has ruled out using Bitcoin**. + +https://www.express.co.uk/finance/city/910629/bitcoin-cryptocurrency-news-latest-Ripple-Ethereum-price-value-surge-starbucks-payment +https://www.cnn.com/2020/10/04/business/unemployed-workers-permanent-job-losses/index.html + +The number of unemployed who have lost a permanent job, or had a temporary job has come to an end, has soared in the past seven months, from 1.9 million in February, to 4.5 million in September. + +The number of unemployed who are out of work due to the end of temporary jobs has also been rising rapidly over the last seven months, increasing by nearly 100,000. Many of those workers were used to moving from one job to another and now haven't been able to find the next job as normal. + +Most of those who now permanently out of work have lost long-term jobs, many that they held for much of their career. +Context: I recently got a new job; I now earn in a week what I previously earned in a month. I'm the first in my family to be in this wage bracket. + +My family are a very working-class, blue-collar old-minded bunch of people that don't trust anything money related, such as investing, new methods of working such as WFH, or anything white-collar. It's also especially hard to explain to them that I work for a Web3 company based in the US, but I work from home and in Europe. + +I wanted to set up an investment fund for my niece and nephew for Christmas with my now disposable income. But, the more I think about it, the more I realize my family will just embarrass me for this and think it's a waste of money. They'd rather I just bought the kids toys or useless items they never play with or will last them a few years until they're broken or thrown out. + +Question: Should I invest for them anyway or leave it? Instead of buying them expensive gifts for their birthday or Christmas, id invest money each month and just give them a card and a small gift. +Well, it didn't happen exactly how I envisioned it, but my wife and I are semi-retiring. I've worked for a startup for the past several years but they are cutting costs and shifting directions and I just don't have it in me to see that through over potentially several more years. Plus most of my stock options are vested and exercised so I've already captured most of the upside. My wife isn't thrilled with her job either and our lease is ending so we decided the time was right to leave. We are very lucky to be able to live for a while in her parents' vacation home that they don't use any more and sits empty 95% of the year, so we won't have to pay rent. + +Our current combined net worth is about $1.65 million. However, about $100k of that is illiquid startup stock. It also includes a rental property in a HCOL area with a value of close to $900k but a mortgage of close to $400k. The rest is cash and investments. Ignoring the startup stock and subtracting $125k for closing costs and taxes on selling the rental property (which we plan to do in the next few years), that gives FIRE assets of about $1.4 million. We were hoping to get closer to $1.6 million because at a 3.5% withdrawal rate we should be able to spend $40k per year indefinitely and still have ~$400k to buy a house in a MCOL area. + +I was initially planning to do part-time contract work for my startup, but they offered a low rate (below my current effective rate) and refused to negotiate, so out of principle I decided to pass. But I'm confident I can fairly easily pick up a decent amount of consulting work through various contacts in my field. This should help bridge the gap until I'm sure we can fully retire. + +Ignoring housing, we currently spend about $15k/year, so I have no doubt we'll be able to support that and continue saving. Health insurance is a big question mark, but we are both relatively healthy and I'm less pessimistic than many on this sub. Our unsubsidized premiums will be about $7-9k/year for a bronze plan. Of course, if our income ends up low enough, we should get subsidies. + +I'm very excited for this next phase in our lives. As long as I've been working, I've felt like I'm very efficient, and when I get my work done for the day I want to go home and relax instead of having to come up with stuff to do, or worse, try to look busy. On the other hand, I can't say I'm not at least a little anxious about not having somewhere to go every weekday, and the structure that instills. I don't necessarily have huge plans for all the newfound free time, but I'm hoping to get more exercise (including taking up biking), read, and finally watch some movies that I've been meaning to for a while. I'm also very excited about being able to hike or go to the grocery store in the middle of a weekday! +My mom passed away in April 2020. She had two IRA accounts. One goes to me 100%, with contingent beneficiary as my grandmother (who pre-deceased my mom). The other is split equally between me and my two siblings. They way it stands, I’m getting 75% of the total, while my siblings are getting just 12.5%. Needless to say, the sibs are not thrilled, and I don’t think the inequity was intentional. + +I’m trying to figure out the least complicated way to split the inheritance more equitably. I can’t disclaim any of the “big” one, or it would go to the estate. Can I set up some sort of trustee-to-trustee transfer, to divert some of the funds to my siblings, without incurring taxes myself? I don’t want to have to get into withdrawals and taxes and gifts, etc. + +Thanks in advance!! +Well, it's been about 2 weeks since the last big push to segregate all ComputerShare DRS posts somewhere they won't be seen because... "it's annoying", so I'll weigh in again with my opinions. + +Firstly, just look at the recent pushes against DRS: + +* "ComputerShare is suspect" *(no, it's not)* +* "ComputerShare won't let you sell" *(yes, it will)* +* "ComputerShare plan is weird" *(no, it's just a boring ESPP)* +* "DRS doesn't remove shares from the DTCC" *(via a youtuber who's blatantly wrong)* +* "Too many ComputerShare posts are boring" *(seriously?)* + +Notice anything? Yeah, they're all pushing against apes empowering themselves by putting their ownership of a company they love into their own name. + +As we approach closer and closer to removing the free float from the DTCC this anti-DRS sentiment has continued to grow. Please ask yourself why? What is the reasoning to stop apes from doing this? + +Here's my answer: +**Out of sight = out of mind** +**Confining DRS posts to a pinned post reduces visibility.** + +Just look at the High Score infographic that u/stopfuckingwithme posts, it has a graph of the GME new account creation at ComputerShare. + +**Do you want that beautiful ascending line to flatten into a lifeless plateau?** + +Guess where new accounts come from? + +* Apes finally getting off there arse to act +and +* New apes who have recently joined the subs + +How do we get people to move from inaction to action? +**Constant reminder and support** + +How do we get new people excited to FOMO and join the DRS trend? +**Constant reminder and support** + +The flood of these posts keeps the focus on direct registration and it is creating FOMO, which is what we need. **FOMO helps work against the fear of doing something new or difficult.** + +Every GME sub should be in full tilt DRS mode. We should be helping all the new people learn about it and figure out how to do it. Every new person who comes to the subs should immediately ask, "hey gang, what's this DRS thing I keep seeing?" + +This should be celebrated each and every time. +That's what the posts represent, celebration - not "spamming". + +We must maximize the number of shares direct registered by the end of GameStop's 4th quarter, which ends in January 31st. **Ryan Cohen is only interested in people willing to work.** It takes money to buy whiskey. + +\-------- + +Thank you u/millertime1216 for encouraging me to create this post from [a comment I made earlier this morning](https://www.reddit.com/r/Superstonk/comments/s7t5yy/please_vote_to_keep_cs_posting_as_is/htc0bmp/?context=3). +In building a bullish case for a crypto company most people tend to start (and stop) with whitepapers and roadmaps. A new project gets launched and pumped up by a couple whales, speculation gets amplified, personalities are hyped along with their projects, and a few months down the line it usually all ends up in tears ($TIME, et al.) + +Beyond all the mess and fake hype, I believe there are innovative projects with ironclad fundamentals that tend to fly under most people's radars. + +Among my new favorites, I'm bullish on [Zebec.io](https://Zebec.io) , a continuous settlement protocol that allows for real-time continuous streams of payments. Also very bullish on [liquality.io](https://liquality.io), a multi-chain "superwallet" with one-lick atomic swaps that makes Metamask (and their support team) look like hot gabage. + +Curious to find out what under-the-radar projects everyone is currently bullish on. + +&#x200B; + +Please, no nft's or "node" projects + +Edit: Ty so much for all the suggestions. Lots of great projects to go through! +I am a 3xxx hodlr. Back in October I DRSd some of my shares. I felt then that diversifying my holdings into multiple accounts, I’d have the best chance at selling during a squeeze. + +Today I realized there are probably a lot of people like me out there. Wanting that diversification as a safety net. + +All that said. I’m going to DRS everything but 1 share. Locking up the float is possible. Quicker that happens, the quicker these shorts get burned. I’m invested in gme as a company and I am firm believer in Ryan Cohen. I suggest others do what they feel +Is necessary. But also to do what is right. + +Edit for you introverts: I was able to DRS everything through fidelity and schwabs online chat. Didn’t even need to pick up the phone. + +Edit 2: For those of you that think I’m full of shit, I will post my positions once they transfer. +**Putting together pieces from various parts of the report:** + +Coming from [Holy Shit #1](https://www.reddit.com/r/Superstonk/comments/qb490y/holy_shit_1_who_covered_rhs_nscc_margin/): + +* Citadel might be the lone supporting entity behind RH +* Meaning, ALL securities & options bought/sold through Robinhood were ultimately fulfilled by Citadel +* This puts all fulfillment responsibilities on Citadel - they need to either internalize or move trades to lit markets +* They were getting *slaughtered* +* 62% of GME traded off exchange (and 88% of *that* was internalized - i.e. traded entirely within Citadel, Virtu, or other MM, never going near a dark pool, let alone an exchange) +* ...but during the "sneeze," that 62% went to ***32%***. [HOLY SHIT](https://i.redd.it/uwsxe03qfcu71.png) +* FYI, that is a massive fucking drop in volume. + +So, normally an MM like Citadel likes volume and *wants* to internalize (62% is good for them), but they started losing massive amounts of money when the price and volume rose at the same time. So they started to bail and routed trades to the lit exchanges like NYSE or Nasdaq. + +* This is like your mom telling you "go to the farmer's market and buy vegetables", but instead you go to your buddy's house who has a pretty sweet garden and a barter system going with some other veggie growers so he usually has enough. But this time it's thanksgiving and your mom needs a shit ton of vegetables so you go to your buddy and everyone wants vegetables from him and he's oversold so he's like "fuck it, go to the farmer's market!" because *he has no goods* + +Which begs the question: ***WHAT ACTIVITY LOSES MONEY WHEN VOLUME AND PRICE INCREASE SIMULTANEOUSLY?*** + +* Answer: shorting. +* And in particular, naked shorting. + +What are the consequences? + +The dollar volume of trades [increased exponentially for them](https://i.redd.it/xvdm9zzw0bu71.png). + +**THIS IS A MASSIVE FUCKING RISK FOR THEM, THIS IS A NUKE OF RISK** + +Moving volume away from their internalization is the LAST THING Citadel wants to do, usually. THEY WERE DYING. + +* This is in line with RH testimony saying that Citadel was a shitshow at the time + +#The implications: + +1. Citadel was losing money when the price was increasing, implying they were the "contra" position to the buys. +2. Citadel moved the trades to lit markets, implying it did not internally have the assets that were being sold. +3. But also, since it is an MM and DMM, this implies the retail buy volume exceeded its ability to pledge shares (i.e. MM liquidity exemptions that ultimately lead to FTDs). There was more volume than Citadel could handle, even with MM abilities to buy the shares back later. **Also implying they naked shorted a shit ton before they tapped out.** +4. **Price of securities went up when trades went to the exchanges, implying Citadel is artificially suppressing the price** (could be correlation, but... really?) + +HOLY SHIT + + +&#x200B; + +https://preview.redd.it/zk82vsmg5vu61.jpg?width=546&format=pjpg&auto=webp&s=66d8ab9a141b356db41c28d89929216475236ca5 + +**TL;DR: Margin is calling. Below is a list of a bunch of other stocks that SPECIFICALLY CITADEL is shorting into oblivion to make money to pay for their debt. Oh, by the way, it's not working out for them.** + +**Not financial advice. I just like the stock. All of them.** + +I'll keep this short and sweet, it's just a bunch of Ortex/FINRA data on **stocks that** **Citadel is MASS PRINTING** to make their money back. You will see some crazy shit here. + +The goal of this DD is to **show the correlation between some MASSIVELY shorted stocks that have yet to cover as of 4/22** and **Citadel's involvement within the OTC/Dark Pools.** + +\----------------------------------------------------------------------------------------------------------------------- + +Let's start with the tendie man, $GME as our reference. Remember that **the short data for $GME is MASSIVELY INACCURATE because they have only pretended to cover by buying ITM calls.** + +&#x200B; + +[GME Ortex](https://preview.redd.it/fm867xvi5vu61.jpg?width=1719&format=pjpg&auto=webp&s=48701a9a1a47417437217a6310105ccbbdb62103) + +We know already what's going on with $GME, don't need to get into it. Same for $AMC. I would post photos of the Ortex and FINRA data but Reddit has a 20 image post limit. Dumb, but I'm sure you get the point. + +Okay, here's where things get **CRAZY.** Have you heard of **Ocugen? ($OCGN)** + +Neither had I. Until I noticed that **THE ENTIRE THING IS SHORTED TO 100% UTILIZATION AND MORE THAN THE FLOAT (189M) TRADED TODAY, 4/22.** + +&#x200B; + +[$OCGN Ortex. THEY ARE MAXED OUT.](https://preview.redd.it/v36lkbuk5vu61.jpg?width=1711&format=pjpg&auto=webp&s=6f3b4301bf00da705aa9db70ce2a9d656be8eda0) + +Here's the weird thing: **THE PRICE IS GOING** ***UP.*** Shorted stocks **DON'T GO UP. Unless... YOU'RE PRINTING SHARES JUST TO PRINT THEM TO MAKE MONEY WITH NO REPERCUSSIONS.** + +Don't believe me? Well... + +&#x200B; + +[$OCGN FINRA. MORE THAN THE FLOAT was traded 4\/22.](https://preview.redd.it/us7ezvto5vu61.jpg?width=1125&format=pjpg&auto=webp&s=731f526548937e2abc195cb52b210e43f2b94974) + +Did I mention that **THE PUBLIC FLOAT OF $OCGN IS ONLY 189M? SEEMS SUS...** + +It goes deeper. Ever heard of $VXRT? You know, **THE ONE WITH THE NEGATIVE BETA?** + +&#x200B; + +[$VXRT Marketwatch \(I know they're \\"The enemy,\\" shut up lol\)](https://preview.redd.it/ure7yeir5vu61.jpg?width=978&format=pjpg&auto=webp&s=9915c45bbb88631f3a16f8c6886d752813227d28) + +**Hmm I wonder if it's been shorted...** + +&#x200B; + +[$VXRT Ortex](https://preview.redd.it/janmdn1u5vu61.jpg?width=1714&format=pjpg&auto=webp&s=6b552d07b4f5b4d11f79c96b5fd2510e9e0885e4) + +**HMM, THAT'S STRANGE... BY CITADEL? YOU PRINTING SHARES OVER THERE?** + +&#x200B; + +[$VXRT FINRA](https://preview.redd.it/lowjb5hv5vu61.jpg?width=1125&format=pjpg&auto=webp&s=ee8fec92aeaffbbd7c92643131517dfeb87e847c) + +Well, isn't that interesting. Keep in mind too that the stock is **GOING UP** as well, meaning since they can't pull out, **THEY MUST GO DEEPER.** Just kidding, although remember that they **MAKE MONEY** printing shares, and demand has shot up for $VXRT. + +Okay so what else? How about: + +1. $FSR: **134M Float** +2. $NKLA: **169M Float** +3. $SKLZ: **227M Float** +4. $MVIS: **155M Float** +5. $RIOT: **82M Float** +6. $ALDX: **38M Float** +7. $BNGO: **276M Float** + +Yup. And those are just the ones I found in a couple of hours. The list is **most likely enormous.** + +You want the data? **Here's the data with comments on each image:** + +Here's **$FSR:** + +&#x200B; + +[$FSR got DEMOLISHED. The best part? Price is going back up, and it doesn't look like it's Citadel covering...](https://preview.redd.it/qntpq2ox5vu61.jpg?width=1708&format=pjpg&auto=webp&s=e8f9dc14da3bb320ff11a136353563c0a30f6f8c) + +&#x200B; + +[$FSR FINRA. ](https://preview.redd.it/m7jihl336vu61.jpg?width=1132&format=pjpg&auto=webp&s=e52450e81e439faa8f745ffa8cd56f606a0fa2e0) + +Here's **$NKLA:** Look at that **HUGE spike in volume, and there AIN'T NO SHORTS BEING COVERED.** + +&#x200B; + +[$NKLA Ortex. \\"I'm JACKED! I'M JACKED TO THE TITS!\\"](https://preview.redd.it/de6tef166vu61.jpg?width=1719&format=pjpg&auto=webp&s=dfed87f6aa0c4d770ddd11321a8034e2003aeff7) + +&#x200B; + +[$NKLA FINRA](https://preview.redd.it/a9dlrnx76vu61.jpg?width=1135&format=pjpg&auto=webp&s=cd0ba2a4b0e2f1580cc1a9431514eb4c280ed55e) + +Here's $SKLZ. **Look at the price action at the end. It's GOING UP despite the short interest. Someone AIN'T COVERING.** + +&#x200B; + +[$SKLZ Ortex. Something's brewing here...](https://preview.redd.it/z78x3cw96vu61.jpg?width=1719&format=pjpg&auto=webp&s=08e436cdfcbaed19a79fcf65a269e5c894bc970f) + +&#x200B; + +[$SKLZ FINRA](https://preview.redd.it/2jor3ekb6vu61.jpg?width=1123&format=pjpg&auto=webp&s=03609039eade6db33f0c389075711ca75ef32298) + +Here's **$MVIS, a WallStreetBets favorite.** + +&#x200B; + +[$MVIS Ortex](https://preview.redd.it/siwo0dud6vu61.jpg?width=1720&format=pjpg&auto=webp&s=33706ffd91d59270f261e69a3a3d63db92bb7f49) + +&#x200B; + +[$MVIS FINRA](https://preview.redd.it/2sgq1itf6vu61.jpg?width=1131&format=pjpg&auto=webp&s=cf779022209ab3996c687738fca1255d480fd921) + +Here's **$RIOT.** Did you know that **THEY SHORTED IT BY TWICE ITS FLOAT OTC? (82M)?** + +&#x200B; + +[$RIOT Ortex. How dumb do you have to be to SHORT THE RIOT BLOCKCHAIN. LIKE THAT ISN'T GONNA BE A BAD DECISION.](https://preview.redd.it/1qys7unh6vu61.jpg?width=1716&format=pjpg&auto=webp&s=3ba26118eb5f8204d0de2280e181727ce7802a0a) + +&#x200B; + +[$RIOT FINRA. Well played Kenny, well played.](https://preview.redd.it/eyp9sqqj6vu61.jpg?width=1126&format=pjpg&auto=webp&s=08457f4dbe1e32504449039743d0d8c9aef568a7) + +Here's **$ALDX.** + +&#x200B; + +[A tiny one, but remember that selling shorts \(that are presumably naked\) MAKE CITADEL MONEY. It's implied that they will cover, but naked shorting typically doesn't have the intention of needing to cover.](https://preview.redd.it/amijboyl6vu61.jpg?width=1708&format=pjpg&auto=webp&s=187fcbf1c51f4ff799d7c48b5814fcdf4fd27a78) + +&#x200B; + +Here's **$BNGO. Again, look at the price action. It's going UP. And if shorts AREN'T RESPONSIBLE for it, then MARGIN CALLS will be coming for similar situations.** + +&#x200B; + +[$BNGO Ortex](https://preview.redd.it/qy42t2tr6vu61.jpg?width=1705&format=pjpg&auto=webp&s=0515dbe5a840b7aa7dbd83ecfc54bee3d020548d) + +&#x200B; + +[$BNGO FINRA](https://preview.redd.it/ux2o97ut6vu61.jpg?width=1126&format=pjpg&auto=webp&s=d51f8946dbff54d787e428462b9d03a1fefac655) + +**So what have we learned?** + +**Buy more $GME. Buy more $AMC.** You can risk the other ones in this list, **but personally I like the stonk.** The way we win this thing **is if we HODL ON WHILE THE PRICE CLIMBS,** and while these stonks certainly can and most likely will go up, **they are more of a demonstration that Citadel and friends are most certainly fuk.** These stonks are shorted into oblivion to stave Citadel its execution, **which is coming for them very soon.** + +Edit 1: Added some clarification, added "not financial advice," clarified that we actually just really like the stonk. +Most long term investors with dividend stocks think that 3-5% dividends are good. But what are everyones’ thoughts on actually high dividend stocks? Like I’m talking 10-30% dividend stocks. I feel like a lot of people don’t like these stocks and don’t really understand. Why not buy these guys? Personally I like to have some of these stocks but why don’t most people? +Agree with me or not I’m tired of seeing every other post being about GameStop and AMC constantly on this sub. I know it’s been in the news a lot and this is about the stock market as a whole but I feel like this has become a lesser version of WSB. I used to read insightful news and posts about stocks in here but now all I see is GME AMC and other pump and dump meme stocks here. I mean this sub has changed so much we need limits on what can and can’t be posted. Idk maybe I’m the only one but I just miss the old subreddit before all this GME hype. Down vote this if you want but I feel like this sub hasn’t changed for the better. +Tiffany Macklem recently stated that [persistent inflation, not recession, is the greater risk in 2023.](https://ca.finance.yahoo.com/news/persistent-inflation-not-recession-the-greater-risk-as-bo-c-looks-to-2023-172048367.html) + +Is the BoC simply fear mongering at this point to stimy any potential economic/stock market exuberance? Because, since August, MoM inflation data has been roughly 0.1%, yet Tiffany and the news media continuously force feed the YoY inflation data of 6.8%. We can't change the past; however, if we continue on the path of these negligent MoM inflation readings until April 2023, we'll be around 0% inflation YoY (April 2022 - April 2023). + +So, again, my question is: why is Tiffany and a chorus of B6 "economists" constantly fear mongering when the data clearly shows inflation has all but come to a dead stop? Additionally, if mortgage rates/rent didn't increase as a result of the rate hikes, I believe we'd be in deflationary territory, something Tiffany has yet to comment on in any meaningful way. +This is the official $GME Megathread for r/Superstonk. Please keep ALL conversations contained to Gamestop and related topics. + +**Not enough karma?** Here's a [**quick guide**](https://zapier.com/blog/how-to-get-karma-on-reddit/) on how to get it. + +# [announcements](https://www.reddit.com/r/Superstonk/wiki/index/announcements) + +* Make sure to check the Announcements regularly. 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I currently live with my dad and have been contributing £200 a month to rent and bills. This has allowed me to be frugal and save about 50% of my income into a LISA and S&S ISA every month. My dad has an attitude of I am young and should enjoy life, move out and get into debt. I kind of feel a pressure from him to move out but I really want to stay because the location he lives in means I have a cheap commute to work and I can save up for a house deposit and retirement. I wondered am I being unreasonable to want to stay a few more years until my apprenticeship is finished? Shared rooms in my area are on average £700-800 a month. + +Edit: I am happy to discuss contributing more to bills or buying my own food etc. Just up to a reasonable level, maybe £400-500. Also, my dad has a 4 bedroom house with lots of space and I try to go away and stay with friends or other family to give him space regularly too. +Just a PSA to buy good toilets. I got cheap ones when I rehabbed my 3 flat. Now I have a $2k water bill because they're all running. It would have been an extra few hundred to buy nicer toilets. +Fat lifestyles often come with indulgent expectations, many of which can be rated as unsustainable. I’m curious what your personal journey is towards sustainability (if you have one). + +This could include: things you are willing to pay more money for in order to buy a more sustainable option, things you can afford but decided not to consume because of their footprint, or even things that you know aren’t good but you won’t give up. +I sold bought and sold a few units over the years. Right now sitting on some cash and enjoying not going into the Rat race office way more than I thought. What would be your angle in this market? I have a few ideas with duplexes +Did people know that the Nasdaq composite was massively overvalued? Could it have been prevented? + +Couldn’t people have looked at “fair value” reports back in 1999 and the years leading up to the tech bubble, and possibly avoided a bubble? + +like what we have today, CFRA reports, Morningstar reports about “fair value”, didn’t people have this information back in the 1990’s? Or just used technical analysis? + + +This also is relevant today, I hear people talking about how the market is massively overvalued right now, but is it really? +I own MSFT among other stocks, MSFT is fairly valued according to its CFRA reports. I have a hard time comprehending that the market is overvalued. + +Disclaimer* I know tech stocks have high PE ratios and if you did technical analysis yes some stocks are overvalued, but not to the extent that we’re in a bubble. What I’m saying. +So, first post here, I will appreciate any piece of advice given. + +I'm 26 (M), I live in Spain and I work in a hotel as a front desk staff. I make about **1350-1400**€ every month, no extra payments on summer/winter. I have **15.000**€ on my bank account and **5.200**€ on an index fund. Every month, as soon as I get paid, I have an automatic transfer of **200**€ to the index fund. That's for the long run, and hopefully compound interest makes its magic. I make 23K a year, but hopefully in two years I'll have my police exam and I'll make about 32K on the first year, so I'm not concerned about not making much every month. + +Now, as **monthly expenses** I have: *car loan* (160,50€), *garage* (60€), and *gas* (50-60€). That makes a total of **270-300**€. Apart from that, every month I give my parents 100€ since I'm still living with them. + +In the near future, along with my girlfriend, we want to move together, and our target will be apartments from 600€ to 750€, maximum. So, I expect to pay the current month (whenever it is), 2 month deposit and a month as a honorary. So yeah, 2,500€ to 3,000€. + +The thing is: + +1- Am I doing right? I've never been told how my finances are doing + +2- Would you decrease my bank account to, let's say, 10K, and take those 5K and put them elsewhere? If so, what's the best option to put them? + +Any other advice will be helpful, as I've told before, no one has never "mentored" me or told me some usual mistakes people do. I'm sorry if I've made any grammar mistakes, English is not my mother tongue. + +Thank you so much +The [CPI](https://www.bls.gov/news.release/cpi.nr0.htm) is out and shows inflation slowing. The increase was 0% month-over-month, and 8.5% year over year. June had shown 9.1% year-over-year. The gasoline price index is down 7.7%. + +While the move downwards is small, it does signal inflation is cooling. +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/ywAGqfUAQE) +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). +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). +If you change your DCA plan according to price, you’re not doing DCA, you’re trying to predict the market. Even if the upcoming months seem very bearish, you have to stick to your DCA plan. That’s the whole purpose of dollar cost averaging. I saw a lot of people saying that it was the perfect time to DCA when BTC price was at 40K$, but now that BTC is at 20k$ the say that they will wait for the market to go lower. + +It’s perfectly fine if you want to predict the market, or if you will wait for BTC or ETH to go lower to buy more. But be conscious that doing this defeats the whole point of DCA. Just do what you want, but don’t lie to yourself. +This method of handling your personal finance may sound incredibly simple to some, but for me it was life-changing. I wish I had thought of it years ago. For reference I’m single, no kids...so this isn’t for family budgeting. Here it is: + +-You just need a savings and a checking account. + +-Make sure you have $4,000 in your checking account. That should be enough to cover your monthly expenses with some solid padding. If it’s not enough, adjust that number, but for sake of explanation I’ll keep it at $4,000. + +-$4,000 is the key number. This all revolves around $4,000 (or whatever that number is for you). + +-The goal is to keep your checking account at $4,000 no matter what. + +-so every time you get paid (For me, every other Thursday), you should have more than $4,000 in your checking. wake up on pay day and Immediately do the following: Pay off your credit cards. IN FULL. If you’re still above $4,000, use it to Pay off any debt you owe. If you still have More than $4k, send the remaining amount to your savings account. Now you should be at $4k in your checking. + +-if, after getting your paycheck, you don’t have enough to pay off your credit card and stay at or above $4k, you need to Spend less money every month...I know that’s easier said than done. + +-Of course, if you’re having a tough month or you recently lost your job, fine you’ll slip into the $3k or $2k, but the nice thing about this menthod is that you have a real understanding of how much money you actually have...Instead of just piling on credit card debt. + +Prior to this method I always felt like I didn’t have a real sense of how much money I had. I always just kept everything in my checking account, but I didn’t really know how much I’d have after paying off my credit card, and therefore I never put anything into savings. + +Anyway, that’s my two cents. Hope it helps. + +EDIT: u/Aghanims pointed out that I did not address savings/retirement goals. I should note that I have an automatic monthly deduction from my checking into a ROTH IRA. If saving for retirement is your goal, transfer any remaining amount over $4k into your retirement (after you've paid off your credit card and any other debt you have). + Honestly completing that thing was an absolute nightmare because getting my stepdad to get his head out of his ass and get me the tax info needed to complete the damn thing took literal months. I don't even live with my parents, I'm not a dependent, and from the start of when I even thought about college he constantly rubbed it in my face that even if they had the means to help me pay for college they wouldn't give me a cent. + +What a load of horse shit honestly. Here's to hoping my community college can give me a bit of financial aid and maybe I can get a scholarship or two. Associates in nursing here I come🤞🤞🤞 +Throwaway account for anonymity. + +Last week I won the Euromillions millionaire raffle, and I'm looking for advice on what to do from here, because I have no idea what to do with this amount of money, I'm not from a well off family. I haven't slept properly since because I can't stop worrying and thinking about how it will affect me or what I do with it. + +I'm 20, currently studying history at Uni. I have a student loan and maintenance loan, and no other savings up to date. My parents are separated, my Mum works as a cleaner and rents a flat, my Dad lives with his family and has some alcohol problems, we generally only talk about football, serious life issues are not his thing. Neither are best placed to ask about this sort of thing, and I haven't told them yet. + +I guess I just want some advice on where to go from here. Camelot have said they can hook me up with a wealth management financial advisor, or I can choose my own. I have no idea what to look for or what to be asking. I don't know whether I should just trust they will choose the best for me, or if I should shop around. Are there specific qualifications I should check for or questions I need to ask? Do I need to let my bank or the student loan company know? + +My current priorities are: + +- Finish uni, and hopefully get a job in journalism. + +- Have the money saved in some way that maybe pays me a regular amount, to help with income while looking for work or freelancing. I don't know if this is realistic with this amount? + +- Maybe start paying back my student loan? + +- Help Mum with some money towards a place of her own? This might be hard because I don't want Dad finding out (he has a habit of screwing relatives out of cash whenever he can, and I worry I wouldn't be able to say no). I don't know if there's a way to do this anonymously, or even if there is how to stop him getting suspicious about where it's from. + +- I want the win to be hidden from friends and family. Camelot say I can choose not to release my name, and I don't want too many other people (especially at uni) finding out because it might affect how they behave around me. Is this realistic or is it going to be hard in practice? + +Thank you very much for advice. I'm completely lost. + +Edit: Wow. So many replies, thank you so much. Thank you so much to those who've flooded my message inbox with advice and offers of help. I'm going to sit down and work through it all, come up with a good plan, and then go from there. I'll try to let you know what I end up doing and how it goes. +Hi guys. I’m a 26yo woman from Iran. I’m a freelance translator. I know 3 languages. I learned it all by myself. I quitted the college when I was younger, so I’m just high school graduate. But I was so good, I’ve translated books (stephen king and brandon sanderson novels) and got them published anyway. Publishers in Iran don’t pay much though. + +You know It breaks my heart that I have to live here. Everybody is very scared. Things have been going really bad in the past 4 years. Everything doubles in price every 2-3 months. Our currency is so valueless, that our average monthly salary in dollar is 100 to 150. I feel like I can’t protect my money from inflation and shit. I turned all my excess money to golden jewelries. I don’t trust islamic banks. And investing is full of risks here. It’s a complete chaos. You can’t imagine how high is fraud rate. + +Also immigration is very hard for us. But I really wanna get out of here. I don’t wanna live in permanent distress. I sometimes think I might not find happiness and abundance even in an advanced country. Cause I come from an origin of lack, Being scared of poverty and not knowing what to do. As a woman in third world country, I have much more problems than just finances. +I don’t know if I chose the right community to post this. But I want you to help me and tell me what you’d do if you were me. I appreciate any advices. +EDIT 2: They launched their product ahead of schedule, there's no point to buy it right now for the hype play. + +EDIT 1: I sold everything because of the persistent radio silence from to company not communicating anymore to its investors. My plan is to buy again at the first press release by them. + + +Tldr in the bottom. + + +>**It's not my intention to manipulate the market, this is why I'm posting this right now.** +>>**Disclaimer:** I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor. **I will not and cannot be held liable for any actions you take as a result of anything you read here.** +Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. +>Got it? Now to the post. + +&nbsp; [.](https://s3-prod.crainsdetroit.com/s3fs-public/styles/800x600/public/99279151_2628183717508144_855101484390416384_n_i.jpg) + +#Zomedica Overview + +Based in Ann Arbor, Michigan, Zomedica (NYSE American:ZOM) is a veterinary health company creating products for companion animals (canine, feline and equine) by focusing on the unmet needs of clinical veterinarians. Zomedica’s product portfolio will include **innovative** diagnostics and therapeutics that emphasize patient health and practice health. With a team that includes clinical veterinary professionals, it is Zomedica’s mission to provide veterinarians the opportunity to lower costs, increase productivity, and grow revenue while better serving the animals in their care. + +&nbsp; + +#Investors +a lot of apes wrote me, that i should create an own post with this: + +https://mkorostoff.github.io/1-pixel-wealth/ + +caution, your thumb might hurt after visiting the page.. + +___________ + + +edit 1: i thank you, me fellow apes, for the awards.. +apes strong together! hopefully many crayon eating apes like me see this comparison of big numbers to get stronger hodling.. + + +edit 2: better to watch on tablet or pc.. + +edit 3: link is safe.. google transparency report: + +https://transparencyreport.google.com/safe-browsing/search?url=https:%2F%2Fmkorostoff.github.io%2F1-pixel-wealth%2F + +edit 4: please, fellow apes, don’t get me wrong, this is NOT a political post or a post about the person jeff bezos. it should just show, that 10 000 000 dollar is not that big as you might think and how the dimensions and relations of this high numbers are.. bc it is very difficult for apes and humans to imagine that big numbers.. 💎 🙌 +of course the balance is not existing between the (uber) rich and the majority of the human beings.. but we will have the chance to change this, after the moass, when the rocket reached the moon. 🚀 🌙 +_____________ +obligatory reminder: + +i hodl for not less than 10 000 000 dollar a share and only sell AFTER the peak, no matter how long this will take.. + +____________ + +(credits to https://mkorostoff.github.io) + + +__ +I Love You guys so much man, + +Its been hard to dream while i was in FUD that the whales might bail before i reach the ceiling, i have yeeted everything with my teeth grit, challenging the world to come at me while i hide behind my 8 shares to take me to the moon, And now i see the XXXX and XXX hodlers are making way for us X, thats the shit my family even wont do for me ...Behalf of all the X hodlers THANK YOU SO FUCKING MUCH + +Edit: Reading each and every comment and my heart skips a beat, We are going to go down in history as the best community that ever existed !! +I often get into debate with socialists (bad habit, I know) about the merits of the labour theory of value, and they always seems to cite one of several studies claiming that the labour theory of value is correct: + +Couple of examples below: +https://scholar.google.com/scholar?hl=en&as_sdt=0%2C33&q=labour+theory+of+value&oq=labour+the +https://youtu.be/emnYMfjYh1Q + + +(The video is the easiest to understand) + +So have marxists proven LTV or is something wrong with these studies? +i came across an interesting [paper](https://academic.oup.com/wber/advance-article/doi/10.1093/wber/lhy032/5539818) recently posted to reddit analyzing the impact of refugees migrating to jordan during the gulf war. specifically looking at the impact to economic institutions. + + +there's a line at the beginning of the paper... + +> Natural experiments like these are valuable because they remove concerns about endogeneity. + +i'm not sure how to make sense of what endogeneity, the [wiki](https://en.m.wikipedia.org/wiki/Endogeneity_(econometrics)) definition doesn't help much + +> In econometrics, endogeneity broadly refers to situations in which an explanatory variable is correlated with the error term.[1] The distinction between endogenous and exogenous variables originated in simultaneous equations models, where one separates variables whose values are determined by the model from variables which are predetermined;[2][3] ignoring simultaneity in the estimation leads to biased estimates as it violates the exogeneity assumption of the Gauss–Markov theorem. The problem of endogeneity is unfortunately, oftentimes ignored by researchers conducting non-experimental research and doing so precludes making policy recommendations[4]. Instrumental variable techniques are commonly used to address this problem. + +can someone ELI5, what is endogeneity? +Throwaway account because personal. I purchased a vehicle last April for $10,000. Zero down. I finished paying off a previous auto loan a few months prior. The lender holds the title to the previous vehicle as collateral. I was informed prior to purchase that it would not be an issue to refinance once the balance was lower to get the title. Earlier this month I contacted them inquiring about refinance options. My remaining balance is $8853. I would like to pay $7000 toward the principal and refinance the remaining $1853 for 36 months. I was told that my best option is to make bigger payments or double payments to reduce the principle. My interest rate is 30.42%. So far I have applied for the $1800 loan with a local credit union and was denied due to current collection actions. I don’t want to keep applying for credit as I have been working on my credit for the past 4 years and my score is the best it has ever been. Any advice would be greatly appreciated. +I’m looking to share a project with yourselves that I’ve been a part of since day 1. For a bit of background here, SHEESH has been started as a joke’ by a social media influencer Aaron Doh. As it quickly gained significantly more traction than expected, Aaron decided to turn it into a serious project assembling a team of +20 to work on every possible area ranging from Admins/Mods, Dev, Design, Strategy & Promotion. + +Dev: Aaron Doh - Followers: TikTok 5.7M, YouTube 400k, Twitter 300k, Instagram 500k + +https://www.tiktok.com/@aarondoh + +Before I go on to expand on why this genuinely is the next big thing, as well as the potential risks & downsides I will obviously advise everyone to DYOR - feel free to join the Telegram (2k) to ask questions about the project as we have an extremely welcoming community - https://t.me/sheeshtokenchat + +The dev is a big influencer, with his entire senior team being publicly doxxed on the SHEESH whitepaper: https://sheeshtoken.com/whitepaper.pdf - I think it’s pretty clear the odds of him risking his whole public career which he spent 6 years building to scam a few random people on the internet, or even pump & dump his fans is simply not there. The project has genuine long-term potential which Aaron is intending to use his social media reach to promote with the first official influencer having been onboarded: + +Spice King - Followers: TikTok 12M, YouTube 230k, Instagram 113k + +https://www.tiktok.com/@spicekingcam + +https://direct.me/spicekingcam + +This brings us onto both further marketing plans as well as roadmap for the project. SHEESH Token will be used for: + + 1. It will be a link between the gaming world – both competitive/entertainment and crypto. This will include competitions and tournaments, with the first Rocket League tournament last Friday having been a huge success + 2. It will be used as an influencer community engagement token – think giveaways, merchandise sales, fan engagement, NFTs, etc +Due to SHEESH being strongly intertwined with the world of influencers the medium-term marketing strategy is mainly driven through social media partnerships. Aaron is currently in talks with multiple influencers, both content creators as well as influencers specifically in the crypto space. + +Aside from marketing what is currently being worked on is redesign of the website & branding. The team has recently deployed a number of graphic designers to ensure everything looks & runs more slick than it does already. CoinMarketCap & CoinGecko have both been submitted with CMC requiring some minor changes while CG is expected to be finalized anytime soon! + +I’m not going to blindly shill you this project, considering I clearly have money in it and it’s in my best interest for you to join in. Here are potential ‘risks’ or what would have to happen for this to not be a success: + + 1. If the ‘Real Use Case’ will not be successfully implemented, hence ‘non-trading’ related traffic will not use the token and it can only grow off hype (ie. Like Safemoon or Doge). + 2. Aaron & the team not being able to generate enough hype/marketing through their network of influencers and partnership deals. +Assessing the likelihood of either of those failing is on you as the investor, so again I urge you to DYOR before throwing in any money. Also please don’t invest anything you don’t afford to lose. + +….now onto the fun stuff. + +HOW TO BUY: + +Never follow any Pancake links of random Redditors! + +Go on the website https://sheeshtoken.com/ and follow their official links there! There is also a quick guide on how to buy. + +LINKS: + +Ø Contract: https://bscscan.com/token/0x7e5d52c3335c91af0da392bea4bb9e43f2aba62c + +Ø Telegram: https://t.me/sheeshtokenchat + +Ø Discord: https://discord.gg/Ssq8MdwQ2w + +Ø Token Twitter: https://twitter.com/SheeshToken + +Ø Token Website: https://www.sheeshtoken.com/ + +Ø Roadmap: https://i.imgur.com/Rm0bTIs.png + +Ø White paper: https://sheeshtoken.com/sheesh.pdf + +Ø Bogged chart: https://charts.bogged.finance/?token=0x7E5d52C3335C91Af0da392BEa4BB9e43F2AbA62C + +Ø Liquidity locked: https://unicrypt.network/amm/pancake/pair/0x83f4c453b766a97E9467D6376B2419a47B082958 + +Ø Subreddit: /r/SheeshToken/ + +Ø Twitch: https://www.twitch.tv/sheeshtoken?sr=a + +I feel super confident about this project and I hope you like it too. What convinced me to buy was low market cap and that he has loads of followers on Twitter, TikTok and YouTube. Talks are on going with a number of crypto influencers to come on board soon, and then the sky is the limit. Don't miss out, this is the best opportunity to get into a massive project early. There is an AMA today with Aaron live on Twitch at 4pm Central Time, and a huge rebranding of the website, logo and updated whitepaper being released very soon! +✈️ JeToken $JETS + +JeToken is led by actual pilots, blockchain experts and strong community members. + +JeToken, incorporated in US as JeToken LLC, will disrupt the DeFi, aviation & travel industries by creating dapps such as dapps for tracking travel points & redeeming the points; and dapps for tracking luggage. + +JeToken will form partnerships with airlines, resorts, and hotels. JeToken has also formed partnerships with marketing experts and will continue doing so. + +&#x200B; + +✈️ Tokenomics + +Total Supply: 100,000,000,000 (100 B) + +Total Transaction Tax 11%: + +· 2% redistributed to JeToken holders + +· 3% for the JeToken marketing wallet + +· 6% used in our Buyback mechanism + +&#x200B; + +Contract Address: 0x0f005dfe97c5041e538b7075915b2ee706677c26 + +&#x200B; + +🤑 Buy on: + +\- PancakeSwap: [https://pancakeswap.finance/swap?outputCurrency=0x0f005Dfe97c5041E538B7075915b2eE706677C26](https://pancakeswap.finance/swap?outputCurrency=0x0f005Dfe97c5041E538B7075915b2eE706677C26) + +&#x200B; + +📈 Chart: + +\- Dextools: [https://www.dextools.io/app/bsc/pair-explorer/0xcaa8cbc6ddfa6c3a695f1c16238cece0b3d8da9f](https://www.dextools.io/app/bsc/pair-explorer/0xcaa8cbc6ddfa6c3a695f1c16238cece0b3d8da9f) + +&#x200B; + +🔗 Listed On: + +\- CoinGecko: [https://www.coingecko.com/en/coins/jetoken](https://www.coingecko.com/en/coins/jetoken) + +\- CoinMarketCap: [https://coinmarketcap.com/currencies/jetoken/](https://coinmarketcap.com/currencies/jetoken/) + +&#x200B; + +✈️ Why Choose Us + +Utility: Real world utility token led by experts + +Secure: Incorporated in US as JeToken LLC. + +Make Money: Buy and watch your investment grow. + +&#x200B; + +✈️ Way to Freedom + +🧳 Partnerships with marketing experts and other popular figures to create awareness. + +🧳 Partnerships with blockchain experts and business consultants to make sure we deliver on utility. + +🧳 Partnerships with airlines, resorts, and hotels. + +🧳 Continuously increasing JeToken value and rewarding holders. + +&#x200B; + +✈️ Our Social Media accounts: + +📚 Website: [https://jetoken.org/](https://jetoken.org/) + +📚 Telegram: u/Jetokenbsc ; Telegram Announcement: u/JeTokenNews + +📚 Twitter: [https://www.twitter.com/jetoken1](https://www.twitter.com/jetoken1) + +📚 Discord: [https://discord.gg/PjKwvFxKPy](https://discord.gg/PjKwvFxKPy) + +📚 Instagram: [https://www.instagram.com/jetoken](https://www.instagram.com/jetoken) + +📚 TikTok: [https://www.tiktok.com/@www.jetoken.net](https://www.tiktok.com/@www.jetoken.net) + +📚 Facebook Fan Pages: [https://www.facebook.com/jetokenofficial](https://www.facebook.com/jetokenofficial) + +📚 Facebook Group: [https://www.facebook.com/groups/925689687581055/](https://www.facebook.com/groups/925689687581055/) + +DYOR & SAFU +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! + +https://www.cnbc.com/2021/08/17/palantir-bought-50-million-in-gold-bars-in-august-as-cash-accumulates.html + +"While some companies such as Tesla are diversifying into bitcoin, data analytics software company Palantir is betting on gold. Palantir bought $50 million in gold bars in August, the company disclosed in its latest earnings statement. + +The move reflects a growing company stashing cash in an unconventional asset in response to economic uncertainty spurred by the coronavirus pandemic and governments’ response to it." +Hey r/AusFinance, + +I'm a first year Commerce student and looking for some career direction. I know I want a corporate role, but it can be tricky to determine what exactly the job titles mean and their pathways. I know there's accountant, lawyer, consultant etc. but you see titles like "Strategy development" or "Corporate research analyst" and I think what does that involve? +We've seen obvious manipulation of GME for months. + +Buy pressure is insane and the price has been flailing wildly. GME was the most traded stock in Australia yesterday. More than any other security. + +Don't let them use the ticker to play with your emotions. When that's true for the price going down and users on this subreddit all write "the price is fake" (which it obviously is), it may just as well be the case on the way back up. I see posts here congratulating apes on what "they did" or "achieved" - and that gets people emotionally invested in positive price action. + +I think it would be wise to be wary that shorts could deliberately let the price run up, and that this may be a vector for sowing doubt in the long run. + +___ + +As I see it, the ticker is only the current price of a share. Its movement is independent of buy pressure or sell pressure - we've seen this demonstrated and theorized in more DD than I can count. + +It's just what it'll cost me to get another share. + +____ + +Retail knows the mother of all short squeezes is practically inevitable. SHF are in debt and *must* close the position sooner or later. + +I want to be holding as many shares as I can afford when it happens - and it's logical that the more shares are sold short (the higher the SI%), the more vulnerable the shorts are to a number of catalysts - dividends, splits, price spikes, regulation, liquidity tests, you name it. This is developing in the right direction for retail... I'll continue to buy and hold. + +**But until we do see a real catalyst - the ticker and price movement of GME is largely irrelevant.** + +Paper losses don't mean anything if I'm not gonna' sell. But neither do paper gains. + +I don't need the ticker to jack my tits. In fact, I want to strive for a complete disconnect between the jacking of aforementioned tits, and the ticker. They come pre-jacked from having read the Due Diligence and knowing shorts are fucked. + +(this is not financial advice) +If companies cannot afford to pay their debt then eventually they will go bankrupt and you, the shareholder, will be left with NOTHING! How much debt a company has and more importantly if they are able to pay back their debt is essential to know before investing in the company. Ultimately companies who become too over-leveraged with debt may face trouble repaying it if their revenue declines, their earnings drop, if interest rates rise or in the case of COVID-19, an unexpected black swan event comes out of nowhere. Below is the checklist I use when analyzing the debt of a company. + +Debt Analysis Checklist: + +Step 1: Calculate Total Debt +\- Remember use only "Term Debt" both short term and long term +\- Liabilities are NOT Debt +\- Ideally total debt would be decreasing over time, however, more important than the total dollar amount is whether or not the company can pay it + +Step 2: Calculate Debt to Equity +\- Debt / Equity = Long Term debt / Shareholder equity +\- I do not include Short Term debt in the above equation unless the company does not have enough cash/cash equivalents and short term investments to cover it +\- Ideally companies would have 25% or less debt + +Step 3: Does the company have positive free cash-flow? +\- We want to see positive free cash flow. This means the company is actually bringing in "cash" which it could use to pay back debt +\- If a company has negative free cash flow then it's not bringing in any money!!! How can they pay their debt obligations with no money? + +Step 4: Does the company have enough cash/cash equivalents/short term investments to cover short term debt? +\- We want to see companies have enough cash/equivalents and short-term investments on their balance sheet to cover short term debt + +Step 4: Does the company have enough free cash flow to cover short term debt? +\- If the company is free cash flow positive, does that amount meet or exceed its short term debt obligations. Ideally it would. + +Step 5: Check the income statement to see how much the company's interest expense is. +\- Does interest / dividend income cover interest expense? This would be ideal! +\- Does operating income / EBIT cover interest expense? If so what is the TIE ratio (times-interest-earned ratio: EBIT / Interest Expense). The higher the number the better! + +Step 6: Look for trends in net income and free cash flow +\- We want to invest in companies that make money and have positive free cash flow. If these numbers begin to go negative then investigate and determine if the company can turn things around. + +Step 7: Calculate the company's overall cash position +\- Overall cash position = cash + equivalents + short term investments / Long-Term Debt +\- Higher the number the better. + +Step 8: Remember not all debt is bad. What is more important that the total amount of debt is whether the company has the operating income, interest/dividend income, or free cash flow to cover it. Even if they took a significant hit to revenue - would the company still be able to pay its debt obligations - those are the types of companies we want to invest in! +So I've built an algo, and I want to finally put it to work. It has worked perfectly in backtesting, and no issues have come up in regards to any unclosed orders. I want to take it into real time, and since it doesn't make many trades, I want to let it run overnight. Is this something I should do, are there any precautions I should take before I leave it running (i.e alerts), or should I just not do it? + +My algo makes only a few trades per day, although a lot of orders are created, and subsequently cancelled if unfilled throughout the day. +So I have about $30,000 in one of my savings account. It's just sitting there. I have another account that I use as my spending/living money ($30,000 as well). + +I'm only making $2 a month off interest. I know nothing about investing. What are my options to invest my money to help it grow faster? Are CDs worth it? What's a good place to put $30,000 and have it grow? Thanks! +Your birthday is supposed to be a special day but when you have no money it's just another sh*tty day. I spent the whole day worrying about bills coming up. My birthday dinner consisted of a dollar burger that I was able to get with change I found. I got into a fight with one of my only friends. I'm just bummed out I guess and wanted to vent. Thanks for listening. +Background: Used to own a business with a partner. Started the business on a handshake and never did any formal contract together. Fast forward to the end of that relationship and I walked away with nothing. Fast forward from there to find through some VERY savvy bookkeeping and less than scrupulous ethics, I have accrued a $120,000 debt to the Canada Revenue Agency. + +Thanks to some kind guidance from Reddit and a local trustee, I got that fine reduced to $28,000. + +Then the marriage hit the rocks. Been separated almost three years. JUST sold the house a couple weeks ago. + +By selling the house, and settling my divorce, I can settle my debt, my marriage and end my wage garnishment. + +I’ll have almost no assets, but no debt either. + +I plan on rebuilding my credit which is horrible, but I’m actually pretty happy to start life over at zero. + +Thoughts on my next step? + +EDIT: Thank you for all the love. This post wasn’t intended as a “pat me on the back” post, but rather an inspiration to let you all know that the worst shit luck and awful situations can always be turned around. + +Face the things you fear. Admit they will suck, but face them anyways. + +The time it takes to fix past mistakes may seem insurmountable. But time moves forward wether you take action or not. Before you know it.... shit is behind you. + +Never. Ever. Give up. Please..... if it feels too much..... never ever stop trying. +TLDR: just some thoughts as I reflect on my 20s and 30s. Lessons learned and mistakes I made. Maybe it helps those younger than me. In the end I ask for advice from those older than me. + +&#x200B; + +**Lessons I've learned to help those in their 20s and 30s:** + +* Wish I had invested earlier. I invested in a big way starting in 2011+. Big mistake. Should have been investing every dollar that was just sitting in a savings account earning 0.05% (yep - did not have online savings accounts back then, and I didn't understand CDs etc.). +* Diet and Health. Incredibly important. NOTHING is worth a damn without health. Don't abuse sugars, carbs, meat - get a balanced thing that works for you. Get a "good" amount of sleep (I'm targeting 7 these days...usually average 5-6). Get an exercise routine that you can make a habit out of and that brings you some joy. +* Focus on skill maximization in 20s and 30s. I worked *very* hard. Obnoxious hours every day. Was working for "the man" the whole time, and I focused on making myself more valuable and the company more successful. Figured I'd get my fair share over the "long term". The trade off was little to no fun travel, almost no social life, family relationships withered. Yes - the trade-offs were real for me and I was making them consciously. The millennials that I see around my company are doing it SO MUCH BETTER. The younger crowd seems to be doing an awesome job of balancing travel, family, and fearlessly negotiating higher wages. So...I guess I don't have much advice here. If anything, I see the younger folks that are investing in their skills and *giving the impression* that they are focused on organizational success get better promotion odds and leverage in negotiating better pay, benefits, etc. I see those that are creating startups being successful too. Based on the cases I know of, the success-rate is better after a few solid years in a related career. +* Take your time and choose the right partner. Pretty self-explanatory. Don't get caught in the "I won't find anyone better" BS mindset and it shouldn't feel like settling. Looks are not that important - being on the same page with important things like finances, family, kindness, sexual chemistry (not same thing as looks) etc. - are far more important. +* Market timing and security selection...are impossible. If you think you know how to do it, take my money and escrow-guarantee me a return above market. If not, STFU. If I sound bitter, I am. Spent too much time chasing that rainbow. Now it's SCHB4Life (or similar). I still have a play-money account where I pick stocks that I am trying to get below 5% of my invested funds. I'm not perfect and like many others, will constantly have to work on fighting urges to "do something". +* Check your 401k fees. Do NOT PAY ANYTHING OVER **0.15%**. Move your funds to the lowest fee, broad-market index fund available with your 401k provider. You will save MILLIONS in compounded fees (remember, the loss isn't just the fees you pay today, it's the compounded returns you miss out on if you had saved on the fees and kept that money invested). +* Happiness/Purpose/Meaning. This is not a destination...no achievement unlocked is going to change your base-level of feeling good about yourself and your life. You have to work through your feelings of emptiness, lack of purpose, weariness with all the bad news you consume with your digital hoses - and *create* your own meaning and happiness. No, you are not alone in thinking that this world is shit and unfair. Tragic things happen everyday for no fucking reason. The universe doesn't give two leptons about your ambitions and dreams. Only you do - and while the universe is under no obligation to make sense to you, you can *create* your own meaning and purpose (good start is focusing on the things you love). +* Your only 'race' is with yourself. It matters not where you get, but how far you go with the resources & opportunities available to you. I've struggled with feelings of failure when those around me think I am "successful". It's because I know I can contribute more to the world with my skills, intelligence, and ambition. Contrary to popular opinion, I think people have *different* potentials - and you are in the best position of knowing what yours is at different points in your life. Take steps to realize your potential and you will feel great, and forget about anyone else's journey (whether they are ahead of you or behind you). The worst thing you can do is try and live somebody else's life (it won't bring you joy, and you won't discover the life that would have). +* I have chased financial security ever since I was 14. I was surprised by my feelings after I GOT EVERYTHING. There was an initial euphoria and release of stress, but then this sort of temporary malaise became a visitor. I have my dream car, wonderful wife, beautiful paid-off house, financial independence, at the top of my profession. Almost like a "survivor's guilt", I feel bad for family members and others stuck in bad situations...and sometimes feel like I don't deserve the good fortune I enjoy. The feelings are temporary, I quickly move on to something I do enjoy - but I recognize that they are there. This is just a continuation of the earlier point that "getting everything" is not the same thing as being happy. Happiness comes from progress. You always need to be making progress *towards* something, improving yourself in some way that holds meaning for you. Whether it be financially, relationships, intellectually, physically, etc. Progress is the only pill that helps. I think I learned this trick wayyy too late. + +&#x200B; + +Sorry for the wall of text. Was interesting for me to write on a weekend morning, maybe helps someone out there. Happy to answer any questions. My situation: single income, married, no kids yet but planning on one within a year. + +&#x200B; + +Am all ears for advice from those in their 40s, 50s, 60s, and beyond. Any words of wisdom? I think the older I get, the more I regard advice from those older than me. In my teens and 20s - I thought people in their 50s knew jackshit against the backdrop of a fast-changing world. Yeah...I was wrong. + +&#x200B; + +**Edit:** Wow, thank you so much for the comments!!! I would've been happy if one person liked reading it, my track record with posts is spotty to say the least. Thank you for my very first gold and silver!!! Progress indeed! I'm reading every comment and will respond to all questions. +They are all the same: "Is so and so legit?" or "Is trading as easy as this instagram guru says?" + +The answer is simple: they are marketers, not traders.. you will likely just be sold something. That's how they make money. Any decent trader isn't putting time into growing instragram followers and selling signals. + +I've added a few keywords to the automod config to help filter these out going forward because a lot of n00bs don't bother reading stickied posts or the sidebar. +Hey all, + +Putting together a longlist of TSX small caps to keep an eye on in 2021 with the end game being a 10-15 stock list of the ones to watch (under 5$) - CDN Small Cap Disruptors ETF if you will. Hers the ones I have: + +Loop Insights Inc + +Bitfarms Ltd + + Fire & Flower Holdings Corp. + + Numinus Wellness Inc + + Dynacert Inc + +Good Natured Products Inc + + Hpq Silicon Resources Inc + + Hive Blockchain Technologies Inc + + Jack Nathan Medical Corp + + Greenlane Renewables Inc + + Mind Medicine Inc + + Converge Technology Solutions Corp + + Score Media and Gaming Inc + + Cloudmd Software & Services Inc + +Feel free to roast the list or throw in your pics. +Lithium prices are moving quickly, and my thoughts are scattered around, so I wanted to collect everything here. As always, my stuff is really boring & often not suited to short term trading opportunities. I guess it just gives you some idea of what to expect if you're holding long term, or maybe a clue which ones might be underrated in comparison to others. +**Investors and analysts often assume full DFS nameplate & purity will be achieved, which means these stocks could rise above my predicted MCs prior to production based on that expectation**. +Please note that my analysis is biased because I believe in accelerating electric vehicle uptake, with no technology able to replace lithium in the next 15 years (though it will supplement it). If you disagree with that thesis, you might consider using a a lithium carbonate price of US$10k per tonne or less, and a spodumene price of US$600t or less. +You can predict a share price by dividing the market cap by the number of shares on issue, but this will become inaccurate if the company raises capital. +As I loosely follow heaps of plays, it's hard to catch every detail, so please alert me to any errors/updates. + +&#x200B; + +**CXO (Core Lithium)** + +\~1.776billion shares, fully diluted. +My assessment is based on the latest version of the [DFS](https://wcsecure.weblink.com.au/pdf/CXO/02398931.pdf), and deals with the lithium project only. Core has other [speculative tenements](https://corelithium.com.au/other-projects) built into its SP. + +~~At spodumene prices of US$600t, I identified Core as a project for sale. Management always claimed they wanted to mine, but their actions said otherwise. I think a spod price of US$1,000pt might've transformed their attitude, and they're making belated moves to increase the resource.~~ +Core has been [funded](https://wcsecure.weblink.com.au/pdf/CXO/02405078.pdf). + +After being awarded $6.5mill recently, they still have \~$40mill in the bank. That $89mill CAPEX is probably a lost cause in the current commodities boom, but even $100mill is fine. Their other issue is construction labourers in an insanely tight covid labour market. Hard to see that changing before Dec. For the sake of this analysis let's just go with construction starting Jan '22. + +~~I previously criticized CXO for not getting a prepayment deal off Yahua, and I was incorrect. They did get a conditional one—~~[~~in 2017~~](https://wcsecure.weblink.com.au/pdf/CXO/01929229.pdf)~~. It was US$20mill, and expired in 2019. Given current market conditions, perhaps that deal could be revived. That takes them to Au$67mill. Yahua are entitled to 75,000 tons per year. Core have 100,000 left for offtakes, and they're going to need the CAPEX + working capital. They'll have to negotiate wisely. It will also have an impact on midstream & downstream opportunities (more on that later).~~ + +Regarding the DFS OPEX, I explained my concerns [here](https://www.reddit.com/r/ASX_Bets/comments/opq5wb/market_open_thread_for_general_trading_and_plans/h67r0va?utm_source=share&utm_medium=web2x&context=3). However, apparently the deposits have some other advantages in terms of geology, which I'm not qualified to evaluate. +As I've done with other hard rock projects, I'm going to assume a 10% failure rate of production, and distribute the processing cost among the remaining 90%, before adding transport & port costs back on. I'll discuss their deposits below. I'm also adding a US$50 per ton to cover all other project costs, in line with PLS (depreciation, tree clearing, etc). +The margins are very tight on fines (p.15), and I don't believe they'll be very profitable. + +* 2023 production +* 156,000 tons pa of spodumene (90% of 436k) +* US$950pt FOB spodumene price +* US$430 cost adjusted (10% recovery failure) + 12 road & port = US$442 FOB +* US$50pt general costs + +156,000 x (950-492) with US$2.5mill for fines +US$74mill x 70% tax +**NPAT \~US$52mill by 2023** +*\[spodumene @ US$750 / US$1150 = NPAT US$30mill / US$74mill\]* + +With a resource size of 15million tons, they can't get a PE multiple of 15, but I'm going to just give them the benefit of the doubt with their latest [drilling campaign](https://wcsecure.weblink.com.au/pdf/CXO/02380505.pdf). That drilling is critical, because it not only potentially doubles the resource, but might be [open pit](https://wcsecure.weblink.com.au/pdf/CXO/02376445.pdf). I guess it could reduce the strip ratio. They're also well funded to continuously drill, so a deposit of 60mill+ tonnes would open up many options for them. + +There's talk of downstream production, like hydroxide, but it isn't feasible atm, because: + +* It'd cost \~AU$500mill for 22k tpa—lunacy with the current resource size +* They have multiple deposits, adding to the processing complexity +* They're contracted to Yahua for at least 5 years. They can't even accelerate that by oversupplying Yahua, because a [contract clause](https://wcsecure.weblink.com.au/pdf/CXO/01929229.pdf) reveals that if CXO want to terminate prior to 5 years, they need to provide 1mill tons of spod, which they can't possibly do without a bigger concentrator. + +However, fortunately for CXO, the govt awarded them $6.5mill for a hydroxide scoping study. +Overall, it's difficult for them to have meaningful hydroxide production prior to 2029 under current commitments. That could change if they're able to double production with an expanded resource. I suggest the Calix/PLS collaboration might be a potential midstream opportunity. + +&#x200B; + +**LTR (Liontown Resources)** + +\~1.93bill shares, fully diluted @ 18/9/21. +Liontown are spinning out their [Moora resource](https://www.ltresources.com.au/moora-gold-pge-ni-cu-project), which the company has valued at AU$110mill. +I'm only discussing Kathleen Valley, because the modestly sized Buldania project isn't economical yet. Add it to potential upside. +Page numbers refer to the [latest presentation](https://www.ltresources.com.au/sites/default/files/presentation_file/20210517-investor-presentation-final.pdf), because the project has been progressing rapidly, and the PFS is out of date. + +LTR has become a bit of a self-fulfilling prophecy in that their MC is now so high they can almost fund construction via a cap raising as soon as the DFS is complete in December/January. +Also, I like that they probably have the most realistic timeline I've seen in a lithium junior, and production by 2024 looks very achievable. + +I'm skeptical about the OPEX cost of US$345pt (p.14), mainly due to the strip ratio. History has shown that a strip ratio closer to 3:1 is more economical, and at 8.4:1 (p.31), LTR's ratio is looking pretty expensive, though there are other factors involved. Disregarding currently exorbitant freights costs, PLS runs at an FOB cost of about \~US$300pt for a similar sized project, so I think LTR needs to be closer to US$500pt. I accept that LTR will process thrice as much tantalum as PLS (p.31), which'll be applied as a credit, so for that reason I'm rebalancing that US$500 to US$450, and applying the 10% failure rate on top of that. +As usual, I'll add a US$50pt cost for other expenses. Once the DFS comes out I'll probably adjust those figures. + +My calculations are based on a 700,000tpa spodumene project, which hasn't been announced yet, but looks inevitable due to LTR's 156mt resource (p.3). A resource size of such magnitude also means midstream and downstream opportunities will open up to them. + +* 2024 full production +* 630,000 tons pa of spodumene (90% of 700k) +* US$950pt FOB spodumene price +* US$444 cost adjusted (10% recovery failure) + 50 road & port = US$494 FOB +* tantalum applied as a credit +* add US$50pt general costs + +630,000 x (950-544) x 70% tax +**NPAT \~US$179mill by 2024** +*\[spodumene @ US$750 / US$1150 = NPAT US$90mill / US$268mill\]* + +&#x200B; + +**LKE (Lake Resources)** + +\~1.3bill shares, fully diluted @ 18/9/2021. +I previously had Lake pinned as a technical grade carbonate producer, but a recent [podcast](https://open.spotify.com/episode/71tD1kDTHpy2hTVq8jPz0Q?si=BNvCOJLmT5OoAj-d0bMD6Q&dl_branch=1) with Standard Lithium has made me more optimistic about their chances. After 16 months, Standard have made solid inroads into engineering an industry first DLE process. For LKE, there were 2 important points: + +* (1) Standard's lithium purity is [168mg/L](https://www.globenewswire.com/en/news-release/2019/06/19/1870938/0/en/Standard-Lithium-Announces-Positive-Preliminary-Economic-Assessment-and-Upgrading-of-Mineral-Resource-at-Its-Southern-Arkansas-Lithium-Brine-Project.html), much worse than Lake's +* (2) The DLE extract is superior quality/consistency to evaporation methods + +(2) was previously done in a lab for LKE, but Standard's success in a large pilot plant means that it can be achieved at scale, which is vital (for both companies). +ORE & SQM have been hiding their quality ratio, but it's believed that SQM are 30/70, while ORE recently achieved 60/40. For this analysis I'm using 75/25 on the assumption that Lake, despite their inexperience, will be using a higher quality, more consistent feed. Commissioned analysts will assume 100% battery grade at nameplate. I can't accept that—it's virtually impossible\*\*. + +I'm cautious on timeframes. Standard Lithium have a huge head-start in that they're using a bolt-on process that piggybacks on a DLE bromine extraction operation with similar features. So they've saved a heap of time by borrowing that expertise for a new process. Standard might conquer DLE inside of 2 years, but Lake still need additional time to solve problems like how to reinject the discarded brine into the aquifer (Standard's project are already doing this). Every brine is different, so unfortunately they can't just import the same process. +LKE started a pilot plant in California in March 2020, but this doesn't involve some of the technical stuff like reinjection, so I'm going to give them 3 years to finalize the full process: March 2023. +Lake will also have a DFS by then, so with scarcity driving investment, let's put construction mid 2023. 2 years construction. Add 12 months for commissioning & product qualification. Full production begins '26/'27. + +[PFS figures](https://lakeresources.com.au/wp-content/uploads/2020/04/lke_compelling-pfs-for-kachi-project_30-apr-20.pdf) commonly increase with the release of a DFS. I'm going to use an OPEX of 5000, not 4178. I'm guessing a CAPEX of US$600mill, and it's difficult to anticipate the ratio of funding to dilution, but the company has indicated that 30/70 (equity/debt) might be possible. I'm going to assume a battery grade carbonate price of US$17k, and half of that for technical stuff. Some of the price graphs online indicate much higher pricing for tech grade, but the published reports from ORE & SQM tell the story. + +* 18,750 tons battery grade carbonate +* 6,250 tons technical grade carbonate +* US$5k operating cost +* US$17,000 battery grade sale price 2023 +* US$8,500 technical grade sale price 2023 +* 2027 full production +* \~US$36mill other costs + +(((18750 x (17000-5000)) + (6250 x (8500-5000))) - 36mill) x 70% tax +**NPAT\~US$148mill by 2027** +*\[carbonate @ US$14,000 / US$20,000 = NPAT US$102mill / US$194mill\]* + +Lake also have plans to expand to 50,000 tons of carbonate pa, but I think they'd need to show competency in the first 25k tons before expanding. So there's huge potential upside there, but at a CAPEX of US$1.1bill. + +\*\*[ORE's DFS figures](https://www.orocobre.com/news/mdocs-posts/4may2011_dfs-presentation-2/?mdocs-file=1061&mdocs-url=false): + +* 16400 tons per annum +* 100% battery grade (currently $US15,000 per ton) + +[ORE's real figures](https://www.orocobre.com/wp/?mdocs-file=7932) after 5 years of production: + +* 10,000-12,000 tons per annum +* \~60% battery grade (current avg US$8476 per ton) + +&#x200B; + +**AGY (Argosy Minerals)** + +\~1.4bill shares fully diluted @ 16/8/21 +A modestly sized project, which could offer a decent return if things go their way. +I'm analyzing their Rincon project, but they also have tenements in [Nevada](https://www.argosyminerals.com.au/tonopah-lithium-project-nevada-usa), which could have exploration results that boost the SP, but probably won't have a production impact this decade. + +The resource is poor compared to current producers, with a brine purity of 320mg/L. Currently, ORE is the lowest purity producer at [690mg/L](https://www.orocobre.com/operations/salar-de-olaroz/), with Lithium Americas coming online next year at [\~600mg/L](https://miningdataonline.com/property/3036/Cauchari-Olaroz-Project.aspx). +I've often harped on about the importance of resource size, and I believe that AGY's tiny 245,000 tonnes of LCE was a contributing factor to their stagnation prior to 2021. Most brine rivals boast resources in the millions of tonnes, and while AGY have assured investors that the resource could be [expanded to 600,000 tonnes+](https://www.argosyminerals.com.au/sites/default/files/asx-announcements/2185382.pdf), ultimately, they failed to receive support from financiers (same situation as CXO with their modest resource). I'll feel a lot more confident in them once they've doubled their 245,000 tonnes. + +The company committed what I perceive to be a serious error in late 2018, upon the release of their [PEA](https://www.asx.com.au/asxpdf/20181130/pdf/440v5cq90hdmyl.pdf). Their strategy was to fast-track production, rather than a more traditional approach of: expand the resource significantly --> PFS --> DFS --> funding and so on. +The PEA looked quite promising, so management opted to bypass their stage 2 plan (expandable 2,000ktpa) in favour of stage 3 (10,000ktpa). I think the CAPEX difference was US$18mill for stage 2, and US$140mill for stage 3. At that point, lithium carbonate had halved from its amazing highs in late 2017 and early 2018, and was firmly in a downtrend. AGY's market cap was AU$170mill when the PEA was released, and I believe they should have called a cap raise instantly to fund the 2,000ktpa plant, ensuring an 18-24 month journey to being cash flow positive, from which they could build off. It's easy to identify this stuff in hindsight, but there was a visible impending glut of supply, and it's management's responsibility to recognize and adapt to industry threats and trends. +Instead, they seemed to have gone cap in hand to their [Japanese off-take partner](https://www.asx.com.au/asxpdf/20190823/pdf/447s8vc7m37ckp.pdf), battery manufacturer Mitsubishi, will little success. They also approached others (their agreement with Mitsubishi is only for 2ktpa). I've spoken about how it's predominantly been converters that have [reached upstream](https://www.reddit.com/r/ASX_Bets/comments/ovikkz/ffx_psc_avz_lpd/?utm_source=share&utm_medium=web2x&context=3), so that outcome was probably inevitable, especially when the Japanese companies have shown little aggression in lithium expansion compared to their Chinese and South Korean counterparts. +Some might counter that they only got their environmental permit in January 2020, but as of 2018 the company had already: [met with the Argentinian president](https://www.asx.com.au/asxpdf/20180919/pdf/43yfsmwty5rxvy.pdf), [constructed stage 2 ponds](https://www.asx.com.au/asxpdf/20180829/pdf/43xsspsrfm60hr.pdf), and built a [500tpa pilot plant](https://www.asx.com.au/asxpdf/20180403/pdf/43swnthqp62lrt.pdf). It seems likely to me that had they simply submitted the permit applications promptly, and ordered long lead items, that having a clear pathway to production would've supported the price during the tough times, as margins on high purity carbonate remained profitable during covid. They subsequently would've been producing during the current boom, and increased their likelihood of attracting stage 3 funding. + +Their stage 2 plant may only make as little as US$5mill pa NPAT, but I think it's an important step in proving their process at scale and providing working funds. Clearly, the share price is currently speculating on the 10ktpa plant getting funded, which may require some degree of dilution. Also, upon completion of the 10k plant, AGY will take 90% control of the project, up from 77.5%. + +I've mentioned what I consider errors by management, but AGY do benefit immensely from having Pablo Alurralde among their personnel. He was with FMC (now Livent) for years, and has outstanding chemicals expertise. Conversely, it made me a little concerned that AGY's prospects were initially so dependent on one man. I suppose it could be argued that many companies flourish on the ability of a select few, but it's easier finding people with strategic acumen than those who can produce battery purity carbonate from a 300mg/L brine. However, given the financial rewards stands to receive through AGY, I don't see a risk of him leaving. + +AGY will comfortably beat its ASX peers to be the next brine producer, with only LPI being somewhat ready to begin construction if they can struggle out of their [current predicament](https://www.reddit.com/r/ASX_Bets/comments/odvtdb/market_open_thread_for_general_trading_and_plans/h43itdh?utm_source=share&utm_medium=web2x&context=3). As they've already qualified their product with Mitsubishi, perhaps they can reach full production of 2ktpa at the start of 2023. If lithium forecasts are accurate, they should be able to receive funding relatively quickly for 10ktpa. Due to the modular design of their facility, I've reduced their construction time. +Timeline: + +* 2023 full 2ktpa production +* 2023 1Q funding for 10ktpa facility +* 2023 2Q construction begins +* 2025 4Q construction complete +* 2026 2H accelerated qualification complete +* 2026 full 10ktpa production + +Regarding the volume of product that attains battery quality, I've been relatively severe on some of their peers. Due to the expertise AGY has, I'm going to just allocated an 80/20 (battery/technical) ratio for the 10ktpa plant, similar to [GXY's projection](https://gxy.com/wp-content/uploads/2021/04/210414-Sal-de-Vida-development-plan-V0.6-FINAL-FOR-ASX.pdf) (p.9). I've explained the difficulties in pricing technical grade before, so I'll once again use half of the battery grade price. I'm going to add 10% to their operating cost of [US$4645pt](https://www.asx.com.au/asxpdf/20181130/pdf/440v5cq90hdmyl.pdf) (p.9), as I'll keep things consistent with other brine plays in not reducing the capacity (instead, penalizing them on purity targets). + +* 8,000 tonnes battery grade carbonate +* 2,000 tonnes technical grade carbonate +* US$5,000 operating cost +* US$17,000 battery grade sale price +* US$8,500 technical grade sale price +* early 2026 full production +* \~US$24mill other costs +* 90% ownership + +(((8000 x (17000-5000)) + (2000 x (8500-5000)) - 24mill) x 90% ownership) x 70% tax +**NPAT \~US$50mill by 2026** +*\[carbonate @ US$14,000 / US$20,000 = NPAT US$33mill / US$67mill\]* + +&#x200B; + +**PLL (Piedmont Lithium)** + +\~1.58billion shares, fully diluted @ 27/8/21. +I'm going to treat PLL as though their lithium hydroxide plans come to fruition. You can read my thoughts on juniors with hydroxide strategies [here](https://www.reddit.com/r/ASX_Bets/comments/p28ww5/emh_european_metals/?utm_source=share&utm_medium=web2x&context=3). For this analysis, I'm excluding income from the African [Ironridge](https://piedmontlithium.com/piedmont-expands-spodumene-resources-through-investments-in-ironridge-resources/) project, which also has excellent upside by 2025/2026. + +In a possible acknowledgement of raw materials limitations, Musk recently suggested that as many as 2/3rds of Tesla's future production may involve the lithium carbonate based [LFP batteries](https://techcrunch.com/2021/07/28/what-teslas-bet-on-iron-based-batteries-means-for-manufacturers/). Other companies have flagged similar sentiments, so I think PLL could consider sidestepping the more technically challenging hydroxide in favour of carbonate. If they do choose the former, they'll need to collaborate with a battery manufacturer, as there's no generally accepted standard for hydroxide impurities. Rather, the battery facility will typically be tuned to the feedstock. Tesla/Panasonic is the obvious choice, and they already have a spodumene arrangement with them. That capped price deal was great for exposure, but financially restrictive, so PLL's clever spodumene [deal with SYA](https://app.sharelinktechnologies.com/announcement/asx/f93a8058854c86e5a19280b68a28466e) should help them honour it without much drama. It was an outstanding piece of business. + +Regarding management, they've now acquired people with solid lithium experience in [Devaney, Klanecky, Pratt & Buckley](https://piedmontlithium.com/wp-content/uploads/210801-PLL-Presentation-August-2021-FINAL.pdf) (p.5), which is encouraging. +On the downside, they made a highly publicized blunder in [not acquiring a mining licence](https://www.reuters.com/business/energy/push-supply-tesla-piedmont-lithium-irks-north-carolina-neighbors-2021-07-20/), which was poor, but will probably only result in a delay. +They'll need a state mining licence first, which regularly takes 6 months, or 2 months with an express option. From there, it would take up to an additional 2 months to get [approval to rezone](https://www.cityofgastonia.com/zoning/zoning-related-public-hearings2.html). Theoretically, it's only delayed the project by one quarter, but obviously community opposition complicates things.Based on some quick searches, there's an implication that county commissioners don't need to [agree unanimously](https://www.canr.msu.edu/news/code_of_conduct_for_planning_commissioners_and_zoning_board_of_appeals_memb). Below, I'll discuss a situation in which approval gets denied\*\*. Note that the objections are to the mining pit, not the lithium hydroxide processing facility, which is something that Albemarle and Livent already do locally. There's actually [another mine](https://imgur.com/a/Is3NGuA) within 15km of Piedmont, nestled into a town. + +So, a rough timeline might be: + +* 2022 H2: all permits received & funding acquired +* 2023 Q1: construction begins +* 2024 Q1: spodumene concentrator constructed +* 2024 Q4: hydroxide facility constructed +* 2025 Q4: commissioning & qualification complete +* 2026 Q1: full hydroxide production + +The deposit has a grade of [.99%](https://piedmontlithium.com/scoping-update-highlights-the-exceptional-economics-and-industry-leading-sustainability-of-piedmonts-carolina-lithium-project/), which is slightly below the Australian projects, but shouldn't be an issue. But the strip ratio might be. At a waste to ore ratio of 12.4:1, it's the highest I've ever seen in a lithium deposit. Operating costs are affected by other factors too, but the suggested US$378pt cost looks very dubious, especially considering the 80% recovery rate, which I've never seen achieved at a spodumene purity of 6%. I discuss the affect of recovery rates on OPEX [here](https://www.reddit.com/r/ASX_Bets/comments/ougddr/weekend_thread_for_general_discussion_and_plans/h726v9w/?context=3). PLL also substantially reduces their costs by applying credits for feldspar, quartz and mica. +So with some misgivings, I'm only going to use the standard 10% penalty for PLL's recovery, but I'll also apply a 10% penalty to the by-products. + +PLL has also nominated a spodumene to hydroxide conversion cost of [US$2056pt](https://piedmontlithium.com/scoping-update-highlights-the-exceptional-economics-and-industry-leading-sustainability-of-piedmonts-carolina-lithium-project/), which as I've discussed before would beat the most efficient Chinese converters. I'm going to assign a cost at the midway point of Australian and Chinese operators of US$3000pt. Therefore, I'm giving an overall hydroxide production cost of US$4822pt \[((420-177)\*7.5) + 3000\], in contrast to PLL's estimated US$2943pt. That still looks too low. +Producing battery grade hydroxide will be challenging, but I'll assume they're successful but with a 10% failure rate (using spodumene as a feed seems to be more stable). + +* 2026 full production +* 27,000tpa lithium hydroxide +* US$17,000pt hydroxide sale price +* US$4,822pt cost +* US$48mill pa other costs +* 100% ownership + +((27000 x (17000-4822)) - 48mill) x 79% tax +Base NPAT \~US$222mill by 2026 (excluding SYA) + +By 2026, SYA should only be a spodumene producer, with an assumed capacity of 162,000 (10% failure rate) tonnes at US$950pt. PLL are entitled to 25% of that profit, plus [50% of the produce at a ceiling of US$900pt](https://app.sharelinktechnologies.com/announcement/asx/f93a8058854c86e5a19280b68a28466e) (p.2), which I'll discuss further below. + +25% of Sayona Quebec's spodumene NPAT = \~US12mill pa + 222mill (North Carolina) +**\~$234mill NPAT by 2026** + +Add their 20% holding in SYA to the MC. +Add 10% of IronRidge to the MC. + +\*\*Now I want to examine PLL's prospects if approval for the pit is withheld. +In that case, perhaps the best course of action would be for PLL to support Sayona Quebec in doubling production at La Corne (NAL) to 360,000 tonnes pa. The capital cost should be no more than US$200mill, and it'd probably take up to 12 months to expand. Two requirements would need to be satisfied first: permits for Authier, and a resolution to the problem in the 2nd half of [this post](https://www.reddit.com/r/ASX_Bets/comments/ougddr/weekend_thread_for_general_discussion_and_plans/h726v9w?utm_source=share&utm_medium=web2x&context=3) (note the first half is now out of date since SYA expanded the recent SPP). + +As I mentioned, PLL is entitled to half of SYA's spodumene, and 50% of 360ktpa would justify a hydroxide plant capacity of 24,000tpa. Naturally the operating cost would be far higher, but still very profitable. Again, using a 10% failure rate: + +* 2026 full production +* 21,600tpa lithium hydroxide +* US$17,000pt hydroxide sale price +* US$10,000pt cost +* US$24mill pa other costs (no pit costs) + +((21600 x (17000-10000)) - 24mill) x 79% tax +Base NPAT \~US$100mill by 2026 + +Add US$24mill NPAT (25% of profit from SYA spodumene @ US$950pt) +**\~US$124mill NPAT by 2026** + +Add their 20% holding in SYA to the MC. +Add 10% of IronRidge to the MC. + +Overall, I think they look relatively secure as long as their North Carolina chemical plant & Authier get approved. +Lithium prices are moving quickly, and my thoughts are scattered around, so I wanted to collect everything here. As always, my stuff is really boring & often not suited to short term trading opportunities. I guess it just gives you some idea of what to expect if you're holding long term, or maybe a clue which ones might be underrated in comparison to others. +**Investors and analysts often assume full DFS nameplate & purity will be achieved, which means these stocks could rise above my predicted MCs prior to production based on that expectation**. +Please note that my analysis is biased because I believe in accelerating electric vehicle uptake, with no technology able to replace lithium in the next 15 years (though it will supplement it). If you disagree with that thesis, you might consider using a a lithium carbonate price of US$10k per tonne or less, and a spodumene price of US$600t or less. +You can predict a share price by dividing the market cap by the number of shares on issue, but this will become inaccurate if the company raises capital. +As I loosely follow heaps of plays, it's hard to catch every detail, so please alert me to any errors/updates. + +&#x200B; + +**CXO (Core Lithium)** + +\~1.776billion shares, fully diluted. +My assessment is based on the latest version of the [DFS](https://wcsecure.weblink.com.au/pdf/CXO/02398931.pdf), and deals with the lithium project only. Core has other [speculative tenements](https://corelithium.com.au/other-projects) built into its SP. + +~~At spodumene prices of US$600t, I identified Core as a project for sale. Management always claimed they wanted to mine, but their actions said otherwise. I think a spod price of US$1,000pt might've transformed their attitude, and they're making belated moves to increase the resource.~~ +Core has been [funded](https://wcsecure.weblink.com.au/pdf/CXO/02405078.pdf). + +After being awarded $6.5mill recently, they still have \~$40mill in the bank. That $89mill CAPEX is probably a lost cause in the current commodities boom, but even $100mill is fine. Their other issue is construction labourers in an insanely tight covid labour market. Hard to see that changing before Dec. For the sake of this analysis let's just go with construction starting Jan '22. + +~~I previously criticized CXO for not getting a prepayment deal off Yahua, and I was incorrect. They did get a conditional one—~~[~~in 2017~~](https://wcsecure.weblink.com.au/pdf/CXO/01929229.pdf)~~. It was US$20mill, and expired in 2019. Given current market conditions, perhaps that deal could be revived. That takes them to Au$67mill. Yahua are entitled to 75,000 tons per year. Core have 100,000 left for offtakes, and they're going to need the CAPEX + working capital. They'll have to negotiate wisely. It will also have an impact on midstream & downstream opportunities (more on that later).~~ + +Regarding the DFS OPEX, I explained my concerns [here](https://www.reddit.com/r/ASX_Bets/comments/opq5wb/market_open_thread_for_general_trading_and_plans/h67r0va?utm_source=share&utm_medium=web2x&context=3). However, apparently the deposits have some other advantages in terms of geology, which I'm not qualified to evaluate. +As I've done with other hard rock projects, I'm going to assume a 10% failure rate of production, and distribute the processing cost among the remaining 90%, before adding transport & port costs back on. I'll discuss their deposits below. I'm also adding a US$50 per ton to cover all other project costs, in line with PLS (depreciation, tree clearing, etc). +The margins are very tight on fines (p.15), and I don't believe they'll be very profitable. + +* 2023 production +* 156,000 tons pa of spodumene (90% of 436k) +* US$950pt FOB spodumene price +* US$430 cost adjusted (10% recovery failure) + 12 road & port = US$442 FOB +* US$50pt general costs + +156,000 x (950-492) with US$2.5mill for fines +US$74mill x 70% tax +**NPAT \~US$52mill by 2023** +*\[spodumene @ US$750 / US$1150 = NPAT US$30mill / US$74mill\]* + +With a resource size of 15million tons, they can't get a PE multiple of 15, but I'm going to just give them the benefit of the doubt with their latest [drilling campaign](https://wcsecure.weblink.com.au/pdf/CXO/02380505.pdf). That drilling is critical, because it not only potentially doubles the resource, but might be [open pit](https://wcsecure.weblink.com.au/pdf/CXO/02376445.pdf). I guess it could reduce the strip ratio. They're also well funded to continuously drill, so a deposit of 60mill+ tonnes would open up many options for them. + +There's talk of downstream production, like hydroxide, but it isn't feasible atm, because: + +* It'd cost \~AU$500mill for 22k tpa—lunacy with the current resource size +* They have multiple deposits, adding to the processing complexity +* They're contracted to Yahua for at least 5 years. They can't even accelerate that by oversupplying Yahua, because a [contract clause](https://wcsecure.weblink.com.au/pdf/CXO/01929229.pdf) reveals that if CXO want to terminate prior to 5 years, they need to provide 1mill tons of spod, which they can't possibly do without a bigger concentrator. + +However, fortunately for CXO, the govt awarded them $6.5mill for a hydroxide scoping study. +Overall, it's difficult for them to have meaningful hydroxide production prior to 2029 under current commitments. That could change if they're able to double production with an expanded resource. I suggest the Calix/PLS collaboration might be a potential midstream opportunity. + +&#x200B; + +**LTR (Liontown Resources)** + +\~1.93bill shares, fully diluted @ 18/9/21. +Liontown are spinning out their [Moora resource](https://www.ltresources.com.au/moora-gold-pge-ni-cu-project), which the company has valued at AU$110mill. +I'm only discussing Kathleen Valley, because the modestly sized Buldania project isn't economical yet. Add it to potential upside. +Page numbers refer to the [latest presentation](https://www.ltresources.com.au/sites/default/files/presentation_file/20210517-investor-presentation-final.pdf), because the project has been progressing rapidly, and the PFS is out of date. + +LTR has become a bit of a self-fulfilling prophecy in that their MC is now so high they can almost fund construction via a cap raising as soon as the DFS is complete in December/January. +Also, I like that they probably have the most realistic timeline I've seen in a lithium junior, and production by 2024 looks very achievable. + +I'm skeptical about the OPEX cost of US$345pt (p.14), mainly due to the strip ratio. History has shown that a strip ratio closer to 3:1 is more economical, and at 8.4:1 (p.31), LTR's ratio is looking pretty expensive, though there are other factors involved. Disregarding currently exorbitant freights costs, PLS runs at an FOB cost of about \~US$300pt for a similar sized project, so I think LTR needs to be closer to US$500pt. I accept that LTR will process thrice as much tantalum as PLS (p.31), which'll be applied as a credit, so for that reason I'm rebalancing that US$500 to US$450, and applying the 10% failure rate on top of that. +As usual, I'll add a US$50pt cost for other expenses. Once the DFS comes out I'll probably adjust those figures. + +My calculations are based on a 700,000tpa spodumene project, which hasn't been announced yet, but looks inevitable due to LTR's 156mt resource (p.3). A resource size of such magnitude also means midstream and downstream opportunities will open up to them. + +* 2024 full production +* 630,000 tons pa of spodumene (90% of 700k) +* US$950pt FOB spodumene price +* US$444 cost adjusted (10% recovery failure) + 50 road & port = US$494 FOB +* tantalum applied as a credit +* add US$50pt general costs + +630,000 x (950-544) x 70% tax +**NPAT \~US$179mill by 2024** +*\[spodumene @ US$750 / US$1150 = NPAT US$90mill / US$268mill\]* + +&#x200B; + +**LKE (Lake Resources)** + +\~1.3bill shares, fully diluted @ 18/9/2021. +I previously had Lake pinned as a technical grade carbonate producer, but a recent [podcast](https://open.spotify.com/episode/71tD1kDTHpy2hTVq8jPz0Q?si=BNvCOJLmT5OoAj-d0bMD6Q&dl_branch=1) with Standard Lithium has made me more optimistic about their chances. After 16 months, Standard have made solid inroads into engineering an industry first DLE process. For LKE, there were 2 important points: + +* (1) Standard's lithium purity is [168mg/L](https://www.globenewswire.com/en/news-release/2019/06/19/1870938/0/en/Standard-Lithium-Announces-Positive-Preliminary-Economic-Assessment-and-Upgrading-of-Mineral-Resource-at-Its-Southern-Arkansas-Lithium-Brine-Project.html), much worse than Lake's +* (2) The DLE extract is superior quality/consistency to evaporation methods + +(2) was previously done in a lab for LKE, but Standard's success in a large pilot plant means that it can be achieved at scale, which is vital (for both companies). +ORE & SQM have been hiding their quality ratio, but it's believed that SQM are 30/70, while ORE recently achieved 60/40. For this analysis I'm using 75/25 on the assumption that Lake, despite their inexperience, will be using a higher quality, more consistent feed. Commissioned analysts will assume 100% battery grade at nameplate. I can't accept that—it's virtually impossible\*\*. + +I'm cautious on timeframes. Standard Lithium have a huge head-start in that they're using a bolt-on process that piggybacks on a DLE bromine extraction operation with similar features. So they've saved a heap of time by borrowing that expertise for a new process. Standard might conquer DLE inside of 2 years, but Lake still need additional time to solve problems like how to reinject the discarded brine into the aquifer (Standard's project are already doing this). Every brine is different, so unfortunately they can't just import the same process. +LKE started a pilot plant in California in March 2020, but this doesn't involve some of the technical stuff like reinjection, so I'm going to give them 3 years to finalize the full process: March 2023. +Lake will also have a DFS by then, so with scarcity driving investment, let's put construction mid 2023. 2 years construction. Add 12 months for commissioning & product qualification. Full production begins '26/'27. + +[PFS figures](https://lakeresources.com.au/wp-content/uploads/2020/04/lke_compelling-pfs-for-kachi-project_30-apr-20.pdf) commonly increase with the release of a DFS. I'm going to use an OPEX of 5000, not 4178. I'm guessing a CAPEX of US$600mill, and it's difficult to anticipate the ratio of funding to dilution, but the company has indicated that 30/70 (equity/debt) might be possible. I'm going to assume a battery grade carbonate price of US$17k, and half of that for technical stuff. Some of the price graphs online indicate much higher pricing for tech grade, but the published reports from ORE & SQM tell the story. + +* 18,750 tons battery grade carbonate +* 6,250 tons technical grade carbonate +* US$5k operating cost +* US$17,000 battery grade sale price 2023 +* US$8,500 technical grade sale price 2023 +* 2027 full production +* \~US$36mill other costs + +(((18750 x (17000-5000)) + (6250 x (8500-5000))) - 36mill) x 70% tax +**NPAT\~US$148mill by 2027** +*\[carbonate @ US$14,000 / US$20,000 = NPAT US$102mill / US$194mill\]* + +Lake also have plans to expand to 50,000 tons of carbonate pa, but I think they'd need to show competency in the first 25k tons before expanding. So there's huge potential upside there, but at a CAPEX of US$1.1bill. + +\*\*[ORE's DFS figures](https://www.orocobre.com/news/mdocs-posts/4may2011_dfs-presentation-2/?mdocs-file=1061&mdocs-url=false): + +* 16400 tons per annum +* 100% battery grade (currently $US15,000 per ton) + +[ORE's real figures](https://www.orocobre.com/wp/?mdocs-file=7932) after 5 years of production: + +* 10,000-12,000 tons per annum +* \~60% battery grade (current avg US$8476 per ton) + +&#x200B; + +**AGY (Argosy Minerals)** + +\~1.4bill shares fully diluted @ 16/8/21 +A modestly sized project, which could offer a decent return if things go their way. +I'm analyzing their Rincon project, but they also have tenements in [Nevada](https://www.argosyminerals.com.au/tonopah-lithium-project-nevada-usa), which could have exploration results that boost the SP, but probably won't have a production impact this decade. + +The resource is poor compared to current producers, with a brine purity of 320mg/L. Currently, ORE is the lowest purity producer at [690mg/L](https://www.orocobre.com/operations/salar-de-olaroz/), with Lithium Americas coming online next year at [\~600mg/L](https://miningdataonline.com/property/3036/Cauchari-Olaroz-Project.aspx). +I've often harped on about the importance of resource size, and I believe that AGY's tiny 245,000 tonnes of LCE was a contributing factor to their stagnation prior to 2021. Most brine rivals boast resources in the millions of tonnes, and while AGY have assured investors that the resource could be [expanded to 600,000 tonnes+](https://www.argosyminerals.com.au/sites/default/files/asx-announcements/2185382.pdf), ultimately, they failed to receive support from financiers (same situation as CXO with their modest resource). I'll feel a lot more confident in them once they've doubled their 245,000 tonnes. + +The company committed what I perceive to be a serious error in late 2018, upon the release of their [PEA](https://www.asx.com.au/asxpdf/20181130/pdf/440v5cq90hdmyl.pdf). Their strategy was to fast-track production, rather than a more traditional approach of: expand the resource significantly --> PFS --> DFS --> funding and so on. +The PEA looked quite promising, so management opted to bypass their stage 2 plan (expandable 2,000ktpa) in favour of stage 3 (10,000ktpa). I think the CAPEX difference was US$18mill for stage 2, and US$140mill for stage 3. At that point, lithium carbonate had halved from its amazing highs in late 2017 and early 2018, and was firmly in a downtrend. AGY's market cap was AU$170mill when the PEA was released, and I believe they should have called a cap raise instantly to fund the 2,000ktpa plant, ensuring an 18-24 month journey to being cash flow positive, from which they could build off. It's easy to identify this stuff in hindsight, but there was a visible impending glut of supply, and it's management's responsibility to recognize and adapt to industry threats and trends. +Instead, they seemed to have gone cap in hand to their [Japanese off-take partner](https://www.asx.com.au/asxpdf/20190823/pdf/447s8vc7m37ckp.pdf), battery manufacturer Mitsubishi, will little success. They also approached others (their agreement with Mitsubishi is only for 2ktpa). I've spoken about how it's predominantly been converters that have [reached upstream](https://www.reddit.com/r/ASX_Bets/comments/ovikkz/ffx_psc_avz_lpd/?utm_source=share&utm_medium=web2x&context=3), so that outcome was probably inevitable, especially when the Japanese companies have shown little aggression in lithium expansion compared to their Chinese and South Korean counterparts. +Some might counter that they only got their environmental permit in January 2020, but as of 2018 the company had already: [met with the Argentinian president](https://www.asx.com.au/asxpdf/20180919/pdf/43yfsmwty5rxvy.pdf), [constructed stage 2 ponds](https://www.asx.com.au/asxpdf/20180829/pdf/43xsspsrfm60hr.pdf), and built a [500tpa pilot plant](https://www.asx.com.au/asxpdf/20180403/pdf/43swnthqp62lrt.pdf). It seems likely to me that had they simply submitted the permit applications promptly, and ordered long lead items, that having a clear pathway to production would've supported the price during the tough times, as margins on high purity carbonate remained profitable during covid. They subsequently would've been producing during the current boom, and increased their likelihood of attracting stage 3 funding. + +Their stage 2 plant may only make as little as US$5mill pa NPAT, but I think it's an important step in proving their process at scale and providing working funds. Clearly, the share price is currently speculating on the 10ktpa plant getting funded, which may require some degree of dilution. Also, upon completion of the 10k plant, AGY will take 90% control of the project, up from 77.5%. + +I've mentioned what I consider errors by management, but AGY do benefit immensely from having Pablo Alurralde among their personnel. He was with FMC (now Livent) for years, and has outstanding chemicals expertise. Conversely, it made me a little concerned that AGY's prospects were initially so dependent on one man. I suppose it could be argued that many companies flourish on the ability of a select few, but it's easier finding people with strategic acumen than those who can produce battery purity carbonate from a 300mg/L brine. However, given the financial rewards stands to receive through AGY, I don't see a risk of him leaving. + +AGY will comfortably beat its ASX peers to be the next brine producer, with only LPI being somewhat ready to begin construction if they can struggle out of their [current predicament](https://www.reddit.com/r/ASX_Bets/comments/odvtdb/market_open_thread_for_general_trading_and_plans/h43itdh?utm_source=share&utm_medium=web2x&context=3). As they've already qualified their product with Mitsubishi, perhaps they can reach full production of 2ktpa at the start of 2023. If lithium forecasts are accurate, they should be able to receive funding relatively quickly for 10ktpa. Due to the modular design of their facility, I've reduced their construction time. +Timeline: + +* 2023 full 2ktpa production +* 2023 1Q funding for 10ktpa facility +* 2023 2Q construction begins +* 2025 4Q construction complete +* 2026 2H accelerated qualification complete +* 2026 full 10ktpa production + +Regarding the volume of product that attains battery quality, I've been relatively severe on some of their peers. Due to the expertise AGY has, I'm going to just allocated an 80/20 (battery/technical) ratio for the 10ktpa plant, similar to [GXY's projection](https://gxy.com/wp-content/uploads/2021/04/210414-Sal-de-Vida-development-plan-V0.6-FINAL-FOR-ASX.pdf) (p.9). I've explained the difficulties in pricing technical grade before, so I'll once again use half of the battery grade price. I'm going to add 10% to their operating cost of [US$4645pt](https://www.asx.com.au/asxpdf/20181130/pdf/440v5cq90hdmyl.pdf) (p.9), as I'll keep things consistent with other brine plays in not reducing the capacity (instead, penalizing them on purity targets). + +* 8,000 tonnes battery grade carbonate +* 2,000 tonnes technical grade carbonate +* US$5,000 operating cost +* US$17,000 battery grade sale price +* US$8,500 technical grade sale price +* early 2026 full production +* \~US$24mill other costs +* 90% ownership + +(((8000 x (17000-5000)) + (2000 x (8500-5000)) - 24mill) x 90% ownership) x 70% tax +**NPAT \~US$50mill by 2026** +*\[carbonate @ US$14,000 / US$20,000 = NPAT US$33mill / US$67mill\]* + +&#x200B; + +**PLL (Piedmont Lithium)** + +\~1.58billion shares, fully diluted @ 27/8/21. +I'm going to treat PLL as though their lithium hydroxide plans come to fruition. You can read my thoughts on juniors with hydroxide strategies [here](https://www.reddit.com/r/ASX_Bets/comments/p28ww5/emh_european_metals/?utm_source=share&utm_medium=web2x&context=3). For this analysis, I'm excluding income from the African [Ironridge](https://piedmontlithium.com/piedmont-expands-spodumene-resources-through-investments-in-ironridge-resources/) project, which also has excellent upside by 2025/2026. + +In a possible acknowledgement of raw materials limitations, Musk recently suggested that as many as 2/3rds of Tesla's future production may involve the lithium carbonate based [LFP batteries](https://techcrunch.com/2021/07/28/what-teslas-bet-on-iron-based-batteries-means-for-manufacturers/). Other companies have flagged similar sentiments, so I think PLL could consider sidestepping the more technically challenging hydroxide in favour of carbonate. If they do choose the former, they'll need to collaborate with a battery manufacturer, as there's no generally accepted standard for hydroxide impurities. Rather, the battery facility will typically be tuned to the feedstock. Tesla/Panasonic is the obvious choice, and they already have a spodumene arrangement with them. That capped price deal was great for exposure, but financially restrictive, so PLL's clever spodumene [deal with SYA](https://app.sharelinktechnologies.com/announcement/asx/f93a8058854c86e5a19280b68a28466e) should help them honour it without much drama. It was an outstanding piece of business. + +Regarding management, they've now acquired people with solid lithium experience in [Devaney, Klanecky, Pratt & Buckley](https://piedmontlithium.com/wp-content/uploads/210801-PLL-Presentation-August-2021-FINAL.pdf) (p.5), which is encouraging. +On the downside, they made a highly publicized blunder in [not acquiring a mining licence](https://www.reuters.com/business/energy/push-supply-tesla-piedmont-lithium-irks-north-carolina-neighbors-2021-07-20/), which was poor, but will probably only result in a delay. +They'll need a state mining licence first, which regularly takes 6 months, or 2 months with an express option. From there, it would take up to an additional 2 months to get [approval to rezone](https://www.cityofgastonia.com/zoning/zoning-related-public-hearings2.html). Theoretically, it's only delayed the project by one quarter, but obviously community opposition complicates things.Based on some quick searches, there's an implication that county commissioners don't need to [agree unanimously](https://www.canr.msu.edu/news/code_of_conduct_for_planning_commissioners_and_zoning_board_of_appeals_memb). Below, I'll discuss a situation in which approval gets denied\*\*. Note that the objections are to the mining pit, not the lithium hydroxide processing facility, which is something that Albemarle and Livent already do locally. There's actually [another mine](https://imgur.com/a/Is3NGuA) within 15km of Piedmont, nestled into a town. + +So, a rough timeline might be: + +* 2022 H2: all permits received & funding acquired +* 2023 Q1: construction begins +* 2024 Q1: spodumene concentrator constructed +* 2024 Q4: hydroxide facility constructed +* 2025 Q4: commissioning & qualification complete +* 2026 Q1: full hydroxide production + +The deposit has a grade of [.99%](https://piedmontlithium.com/scoping-update-highlights-the-exceptional-economics-and-industry-leading-sustainability-of-piedmonts-carolina-lithium-project/), which is slightly below the Australian projects, but shouldn't be an issue. But the strip ratio might be. At a waste to ore ratio of 12.4:1, it's the highest I've ever seen in a lithium deposit. Operating costs are affected by other factors too, but the suggested US$378pt cost looks very dubious, especially considering the 80% recovery rate, which I've never seen achieved at a spodumene purity of 6%. I discuss the affect of recovery rates on OPEX [here](https://www.reddit.com/r/ASX_Bets/comments/ougddr/weekend_thread_for_general_discussion_and_plans/h726v9w/?context=3). PLL also substantially reduces their costs by applying credits for feldspar, quartz and mica. +So with some misgivings, I'm only going to use the standard 10% penalty for PLL's recovery, but I'll also apply a 10% penalty to the by-products. + +PLL has also nominated a spodumene to hydroxide conversion cost of [US$2056pt](https://piedmontlithium.com/scoping-update-highlights-the-exceptional-economics-and-industry-leading-sustainability-of-piedmonts-carolina-lithium-project/), which as I've discussed before would beat the most efficient Chinese converters. I'm going to assign a cost at the midway point of Australian and Chinese operators of US$3000pt. Therefore, I'm giving an overall hydroxide production cost of US$4822pt \[((420-177)\*7.5) + 3000\], in contrast to PLL's estimated US$2943pt. That still looks too low. +Producing battery grade hydroxide will be challenging, but I'll assume they're successful but with a 10% failure rate (using spodumene as a feed seems to be more stable). + +* 2026 full production +* 27,000tpa lithium hydroxide +* US$17,000pt hydroxide sale price +* US$4,822pt cost +* US$48mill pa other costs +* 100% ownership + +((27000 x (17000-4822)) - 48mill) x 79% tax +Base NPAT \~US$222mill by 2026 (excluding SYA) + +By 2026, SYA should only be a spodumene producer, with an assumed capacity of 162,000 (10% failure rate) tonnes at US$950pt. PLL are entitled to 25% of that profit, plus [50% of the produce at a ceiling of US$900pt](https://app.sharelinktechnologies.com/announcement/asx/f93a8058854c86e5a19280b68a28466e) (p.2), which I'll discuss further below. + +25% of Sayona Quebec's spodumene NPAT = \~US12mill pa + 222mill (North Carolina) +**\~$234mill NPAT by 2026** + +Add their 20% holding in SYA to the MC. +Add 10% of IronRidge to the MC. + +\*\*Now I want to examine PLL's prospects if approval for the pit is withheld. +In that case, perhaps the best course of action would be for PLL to support Sayona Quebec in doubling production at La Corne (NAL) to 360,000 tonnes pa. The capital cost should be no more than US$200mill, and it'd probably take up to 12 months to expand. Two requirements would need to be satisfied first: permits for Authier, and a resolution to the problem in the 2nd half of [this post](https://www.reddit.com/r/ASX_Bets/comments/ougddr/weekend_thread_for_general_discussion_and_plans/h726v9w?utm_source=share&utm_medium=web2x&context=3) (note the first half is now out of date since SYA expanded the recent SPP). + +As I mentioned, PLL is entitled to half of SYA's spodumene, and 50% of 360ktpa would justify a hydroxide plant capacity of 24,000tpa. Naturally the operating cost would be far higher, but still very profitable. Again, using a 10% failure rate: + +* 2026 full production +* 21,600tpa lithium hydroxide +* US$17,000pt hydroxide sale price +* US$10,000pt cost +* US$24mill pa other costs (no pit costs) + +((21600 x (17000-10000)) - 24mill) x 79% tax +Base NPAT \~US$100mill by 2026 + +Add US$24mill NPAT (25% of profit from SYA spodumene @ US$950pt) +**\~US$124mill NPAT by 2026** + +Add their 20% holding in SYA to the MC. +Add 10% of IronRidge to the MC. + +Overall, I think they look relatively secure as long as their North Carolina chemical plant & Authier get approved. +Hi all, + +Thanks for creating such a great community. I'm 27 y/o with $1.5M through inheritance. + +I have $700K invested in the market, $100k equity in real estate, and another $700K I plan to invest into the market this year. + +I work a professional services job netting about $150K a year. It's an okay job - people graduating from college vie for it since it has great career progression and great benefits. + +I'm in a position now where I feel like I'm just going through the motions daily - the only reason I do this job is so that I have cash flow. I know that if I take my $1.5M and invest it without touching it, in 15 years I'll have $4M (assuming 7% growth). + +But, this job doesn't excite me, nor do other companies/startups I look at. I truly don't care to work. All my needs are met - I live in a decent middle class house, drive a nice luxury sedan, and eat whatever I want, and travel 3x a year. For some reason, I don't feel like there is anything else I really *want* in life - some people here strive to eat at expensive restaurants, drive nicer cars, fly business class, etc. - none of that really interests me. I also don't feel there is any sort of archetype I am working towards becoming - I don't care to be the next hotshot company executive or public figure. I feel chasing professional achievement is so meaningless. + +Some people have suggested taking time off work to do some soul-searching - I did, 3 weeks off spent in SE Asia near Xmas last year, and another week off golfing with friends last month. I came away with nothing - there really isn't much more I look forward to working towards. I know I'll have a family and kids in a few years, and so yeah $10M+ would be cooler than having $4M, but why go through the effort? + +I have passions - cars and travel. But I also believe the second you start making your passions your career, they no longer remain your passion. I'd hate to be, say, a car dealer, or a travel blogger. I just want to sit around, do nothing, drive nice cars, and travel. + +Anyone else in this predicament? How do I reinject motivation into my life, or a goal to work towards? +Nerds On Site a Canadian IT services company, released their Q2 results and thought I would share some ideas about short and long term outlook. + +Q2 report shows profits up 7.7% which isn't anything major but what is interesting to me is the fact that they leaned out operations, cut operating overheads and improved gross margins by 22.5%. + +This is important because there is a lot of buzz around a potential partnership being announced between Staples Canada and Nerds On Site, which could have a significant impact on their revenue. A lean operation with healthy gross margins is what we're looking for in a company that is positioned to scale up revenues. + +Here's a little more about the potential partnership: + +There was a recent press release from Nerds On Site regarding a potential partnership with a large Canadian tech partner. There was rumours about this being a partnership with Staples. The writing was on the wall when some redditers found google results linking to a Staples services page on the Nerds website, which was then quickly removed due to (what I believe to be) an NDA between the parties. + +A potential partnership would be extremely strategic for Staples and even more so for Nerds On Site. + +If we look at the Best Buy and Geek Squad relationship for reference: + +Although Best Buy doesn't report separate financials, my research indicates that Geek Squad is responsible for 5 to 6% of Best Buy's $40+ Billion a year of annual revenue. That puts Geek Squad at the $2 to $2.5 Billion a year range with reports of gross margins being 40 to 50%. This makes Geek Squad the single biggest asset Best Buy ever acquired. + +Circling back to Staples and Nerds On Site... It's hard to pin a number on Staple's annual revenue as they were recently privatized. General research puts the number at $2.5 Billion a year in Canada. If we do the relative math, this puts the partnership potential for Nerds On Site at $125 Million in annual revenue in Canada. + +Here's why I think the revenue potential for Nerds On Site may be even higher than the direct comparison model mentioned above. + +Staples' customer base is unlike Best Buy's. Whereas Best Buy focuses on consumer electronics, Staples' focuses on the SME customers. Staple's customer base is much more likely to convert for managed service offerings than Best Buy's customers would. Given that the customers are SME's, the average order value and life time values of these customers will likely be much higher than that of retail consumers. Nerds On Site would be perfectly positioned to capture this opportunity as the SME segment is what they have been focused on since 1995. + +Here are a few other items that have me super bullish on this stock... + +1. The operators / founders of this company did a pure play IPO to list this company. This wasn't some reverse merger or shell game, print a ton of shares typical exit scam we've come to grow accustomed to in the small cap space. +2. They've been focused on slowly and steadily expanding the business vs pumping the market with press releases to artificially inflate the stock prices (in the last year or so that I've been periodically looking at this company it surprises me how little press they put out. It's almost to a detriment). The short of it is these guys are here to build a business and not pump a stock. This company/stock is fundamentals driven. (This is extremely important and here's why....) +3. The founders and insiders own most of the stock for this company and they have been consistently buying whatever they can since IPO (google this and you'll find it). The majority of the stock is restricted with very little float free trading. The slightest buy volume will send this stock soaring (as seen in the last week), if the market literally sneezes on this stock its going up... and this isn't one of those scenarios where there are a bunch of stock jockey insiders foaming at the mouth to cash-out and unload into the buy volume. +4. The company has been around since 1995, has a 95% customer satisfaction rating, currently does $10 Mil a year in rev (I know, it's not much but its relative to their market cap) and is positioned to scale hard and fast in Canada and the US. +5. Their service offering works perfectly with the economic macros (Covid / Post Covid trend) of leveraging technology for seamless remote work forces, which also alines with Staple's customer base. + +These are all catalysts for massive moves in the short term... but here's why I'm super bullish on the long term outlook as well. + +If Nerds On Site sees an initial pop on their stock price (which already seems to be happening), they will have real stock currency to go on an M&A spree acquiring smaller regional players in IT services space. The way their platform works (how they acquire and train nerds) lends itself to quickly and seamlessly acquire the smaller players and convert them to the nerd model. This is very important because they can essentially buy revenue needed to pave their path to a Nasdaq listing. + +This is one of the few companies that truly belongs on the Nasdaq. It's a pure play technology company with great fundamentals and just needs the catalyst to scale. (That catalyst seems to be coming in a big way imo). + +Here's why I think there's a planned path to the NASDAQ for this company: + +Doing some additional DD, I looked at the current board members of this company and did some research on the names. Two in particular were very interesting. + +&#x200B; + +1. Kevin Ernst: spent 8 years serving as Managing Director for the NYSE Euronext/NYSE Amex. Also worked with Merrill Lynch. +2. Nicole Holden: Assistant Chief Auditor at The Public Company Accounting Oversight Board. (This organization does public company audits for SEC). + +It wouldn't make sense for these two individuals, given their credentials, to be sitting on the board unless there was a bigger strategy at play (I believe that strategy is an uplist to Nasdaq). Judging resumes, these two certainly aren't on the board due to their stellar computer repair skills. + +If the roadmap plays out the way I'm seeing it, this stock has the potential to be a solid long term hold and with some short term opportunities to take the initial investment off the table. + +Thought I would share my DD on this. Please do your own research! + +**Full Disclosure: I'm a buyer of this stock and I'm long on this company. I want to bring awareness to this company as I think it's a Canadian company thats been undervalued for a long time. I have posted my DD on two other subreddits and it was well received so I posted here too as this is a Canadian investment sub and I thought it could be of value. I also welcome any criticism as it forces me to look at things from multiple lenses.** +Just breaking now, sources saying Musk has sent a letter to Twitter confirming intent to proceed at the original purchase amount. + +&#x200B; + +Looks like Musk might be the new owner, as Twitter shareholders have voted in favour of selling at $54.20. + +&#x200B; + +More to come... + +&#x200B; + +**Edit**: It looks like trading was suspended on TWTR, the price before halt $47.93; up from $42.90. Going to be a nice payday for shareholders... and maybe some bag holders to be lightened of their weight! + +**Edit2**: Media source: [https://www.cnbc.com/2022/10/04/twitter-shares-halted-on-report-that-musk-plans-to-go-through-with-deal-at-54point20-a-share.html](https://www.cnbc.com/2022/10/04/twitter-shares-halted-on-report-that-musk-plans-to-go-through-with-deal-at-54point20-a-share.html)Thanks BadMoodDude + +**Edit3**: [From WSJ](https://www.wsj.com/articles/elon-musk-proposes-closing-twitter-deal-on-original-terms-11664901454?mod=hp_lead_pos1) + +"The billionaire’s lawyers communicated the proposal to Twitter’s lawyers overnight Monday and filed a letter confidentially with the Delaware Chancery Court ahead of an emergency hearing on the matter scheduled for Tuesday, the person said. + +If Twitter accepts the proposal, the two sides wouldn’t have to follow through on a five-day nonjury trial set to begin Oct. 17. There are no guarantees they will reach a deal and the trial could still go forward as planned. + +Mr. Musk was set to be deposed later this week as part of the preparations for the trial." +After selling a business a few years ago I have net worth of around $17M. + +- Public equities: ~$10M (down ~$500k in the past week) + +- Private equity (combination of rollover equity and separate investments): ~$4.5M + +- Donor Advised Fund: $1M (won't touch this of course) + +- Real estate equity: $1.5M + +I'm still at the company I sold but may be leaving soon (by end of year?). Income there is around $150k. + +My tax returns show last three years of income at an average of ~$5M/year so buying power is pretty high, but with the acquisition now mostly complete the next few years of reported income will be a lot lower unless I sell a lot of stock which I don't plan on doing. + +Most housing affordability articles/calculators base it off income and debt ratios which don't apply in this situation. Is there any rule to determine what makes sense? In the places I'm looking at in California $2M gets you something fairly nice but the jump to $3-$4M is where I'd like to be if it makes sense to do so. +At the moment she will be contributing $150 a month with hopes to scale that up to $500 as her pay increases this October + +I was thinking of doing +15% or 22.50 in VYM and +15% or 22.50 in SCHD and +15% or 22.50 in SPHD and +10% or 15 in DIV and +10% or 15 in VTI and +10% or 15 in SCHY for a little international exposure and +5% in O and +5% in main and + +Then for the remaing 5% I had her pick three growth companies and she said AMZN, APPL, and GOOG +which would only be about $2.50 a month in each to start but more later in the year + +Is this overdiversified? What should I adjust? +Thought this would be a good use of the subreddit, seeing as all, or most, of us are experienced being degenerates at this end of the market playing with small caps are going to get us involved with directors who are trying to treat the Australian public like an ATM rather than make their company a success. + +From my experience these characters do the same thing over and over again, jumping from company to company, or even just changing up the company name and repeating the dodgy process rorting investors for decades. Thinking if we have a list of these repeat offenders, then it should be easier for us to do our due diligence and cross a company off the list when its mentioned by other degenerates here. +If you bought eth one year ago today you would have paid about $13 per eth and if you held you would have watched it plummet to $6 by December. It's safe to say you've probably seen it all, huge drops, huge rises, FUD, negative feelings, positive feelings, people spreading rumours that eth will die, sell sell sell, get out while you can etc etc. + + +So I'd like to hear what you were thinking during those times, did you ever come close to cashing out? Did you ever imagine it would go as high as $400? Did you ever imagine it could go as low as $6? Let me know your thoughts. +The more I learn about it and as I see all the people who lose money on my discord as well as myself, the more I realize that it’s our own fault and it’s our own psychology. + +Mark Douglas said before that you only need one skill to trade. Click of a mouse (or phone). That’s it. And with it you can have a losing trade, a winning trade, or a spectacular trade. + +But it seems like day trading by concept is easy. Market goes up and down throughout the day. Anybody can scalp it or follow a trend. + +But it’s the psychology that makes the successful traders the 1-10%. It’s our own brain that makes us hold losing trade hoping for a reversal, FOMO playing a trade, chasing a trade, sizing too big, impatience, etc. + +Seems like to be a successful trader, you literally have to fight against your own biological instincts of chasing that dopamine high. +Hello there fellow apes. I have decided that with a new sub should come new DD and so I have decided to write this article. Now some of you may remember me from my last article where I talked about the suspicious amount of companies that went bankrupt under the rule of the ousted members who may or may not have been planted there in order to insure GMEs failure. + +[https://www.reddit.com/r/GME/comments/mbiodn/cleaning\_house\_cco\_resigns\_and\_what\_that\_means/](https://www.reddit.com/r/GME/comments/mbiodn/cleaning_house_cco_resigns_and_what_that_means/) + +Since then I have remained in the shadows upvoting and occasionally commenting on posts but mostly just watching things unfold and Hodling. But I have decided to come out of hiding to share some of the insights that I feel that I have found after analyzing the level 2 book on webbull and witnessing the spectacular growth of this subreddit. Now my claim in the title as to why 1 million is not as crazy as it seems is meant genuinely and is not simply clickbait for three major reasons. The first being the large amount of retail/active investors in the stock, the second is the level 2 book which shows how once this rocket gets going things are going to start getting insane and the final reason being an analysis of the game theory involved within this transaction. + +Keep in mind I will be recapping some information covered by other DD in order to backup/verify every assertion and point made. "Extraordinary claims require extraordinary evidence" which in this case means a lot of evidence needs to be provide to show each point is true. With that out of the way lets talk about how much of the stock is owned by retail. + +&#x200B; + +**Chapter 1: Retail Ownership and the Prisoners Dilemma** + +Now for the last few months a lot of questions have been thrown around as to how much the stock is shorted and as to how much of the outstanding stock is owned by retail. The reason being is simple. If retail (more specifically the guys asking for a milli a share) own 100% of the stock and the stock is shorted basically at all then that means they have to pay whatever that guy wants them to pay. That being said if the short interest is low only a few guys are actually going to be paid that million a share. Even if retail does not own all the outstanding so long as we own a significant proportion of it and refuse to sell below a certain price the other players so to speak will understand this and will raise their floors to something more similar to are own. This is vital to understand as it is part of the basis of this due diligence. + +Now let us look at some speculation as to how much of the outstanding is owned by retail + +This article by u/DiamondApes 23 days ago speculates that **40.8 Million shares are owned by retail**. He calculated this by looking at several major brokers and then multiplying the overall percent of users involved in GME from each broker with the average investment size from each. + +[https://www.reddit.com/r/GME/comments/m54vpq/serious\_dd\_retail\_ownership\_using\_public\_data/](https://www.reddit.com/r/GME/comments/m54vpq/serious_dd_retail_ownership_using_public_data/) + +&#x200B; + +This article by u/SpacedSlayer 24 days ago speculates that retail owns **100% of GME Outstanding shares.** The argument here is rather speculative but effectively the author creates a table to represent how many different owners there would be at certain price points by dividing the overall outstanding shares by the number of owners at different levels. + +[https://www.reddit.com/r/GME/comments/m3wxyg/retail\_owns\_100\_of\_gme\_outstanding\_shares/](https://www.reddit.com/r/GME/comments/m3wxyg/retail_owns_100_of_gme_outstanding_shares/) + +&#x200B; + +This article by u/InForTheSqueeze 19 days ago speculates that at a minimum retail owns **between 100%-1000%.** After gathering together data from about 20 different brokers he then multiplied that by the percent of users on these brokerages that own GME. If apes own only 5 shares he calculates retail would own **more than 150%**. Keep in mind though that the percent of users on each brokerage is rather speculative as it is based on information provided by some firms on the % of users invested in GME and then extrapolated to others by way of what type of firm they are. + +[https://www.reddit.com/r/GME/comments/m7x2gq/dd\_i\_did\_the\_math\_there\_is\_literally\_no\_doubt/](https://www.reddit.com/r/GME/comments/m7x2gq/dd_i_did_the_math_there_is_literally_no_doubt/) + +&#x200B; + +This article by u/cbkguy talks about how fidelity customer support has had **half a million accounts transfer from Robinhood to fidelity.** What is important to note here is that this is only fidelity that is saying they have 500 million accounts transfer it does not include other brokerages which might have also received customers transferring accounts. It is also important to note that although accounts which transfer are more likely to have contained GME or AMC it is also extremely likely that the decision to prevent buying or selling cost them a great deal of clients which did not own either stock + +[https://www.reddit.com/r/GME/comments/mbm7c1/on\_the\_phone\_with\_fidelity\_customer\_support\_they/](https://www.reddit.com/r/GME/comments/mbm7c1/on_the_phone_with_fidelity_customer_support_they/) + +&#x200B; + +Now as much as it is important to keep morale up it is also important to stick to the facts and not let our own hopes influence our decision making. The reason why so many of us are hesitant to talk to friends or family about each share being worth one million is because it is inherently a ridiculous proposition to begin with. We have to be able to prove each step on our chain of reasoning because if we have a single misstep or guess the argument loses its credibility. Now as some of you may have noted these articles from these excellent due diligences do contain some speculations and are also about 20 days old as of writing. However a very important thing to note is that despite these articles containing some speculation most are based on hard facts and logic even more importantly **each piece of due diligence I have listed comes at the problem from a different angle**. If you look at what is being said you have 4 different authors attempting to solve the problem using different methods and metrics and each one seems to point in the same direction. That strikes me as very bullish. I have included links to each author and have included what I believe to be potential speculations on their part above. + +Now before we continue I would like to add in one more metric of my own that I have been using to track potential GME share holders. That being the amount of users on GME specific subreddits and also how active users have been on those subreddits. + +First let us examine the overall size of the original GME subreddit + +&#x200B; + +[Graph provided by https:\/\/subredditstats.com\/r\/GME](https://preview.redd.it/p5vaj9sm4nr61.png?width=920&format=png&auto=webp&s=1fad75231cacc479f003bd691fff4ccb94862559) + +As can be seen we were over **250k users on this subreddit alone** as of two days ago. Now this is still extremely bullish considering first of all that users who join this subreddit with the exception of bots are extremely likely to own shares of GME. + +Next lets look at r/wallstreetbets + +[Graph provided by https:\/\/subredditstats.com\/r\/WallStreetBets](https://preview.redd.it/78c5378b5nr61.png?width=901&format=png&auto=webp&s=ab003e972a4266d022ea1d372c2bb2cfe0b3de11) + +Now as you can guess that vertical line represents the date of the original rise in the GME price. Many retail and institutional investors realized that this was the place to be and decided to check out what was going on in this subreddit. However it is important to note that prior to the questionable actions of their moderation community, GME was the stock of the subreddit and all the posts there were in refrence to it. After the growth of the forum it gradually shifted into a more open environment and it is extremely optimistic to say that there are 9.7 million apes . In addition as time has dragged on there have been questions as to how many individuals have paperhanded over time or just decided to go into other plays. As to avoid speculation the biggest takeaway from this chart is that there were roughly 2 million people on the subreddit the GME movement we saw in early January and it seems likely that this initial group has either grown or has remained of a similar size throughout this entire debacle. **This indicates that there are likely upwards of 2 million individual GME shareholders** being conservative + +Finally lets look at r/Superstonk + +[Graph provided by https:\/\/subredditstats.com\/r\/superstonk](https://preview.redd.it/ustqxg1x5nr61.png?width=917&format=png&auto=webp&s=f4bad05dc6ba92b1257d43d9101c35890e9d0430) + +Now after the mass exodus that occurred over at the original GME forum we have a new data point to examine. It is important to note that this data compliments the graph provided earlier by the original GME post. This is because the users gained on this subreddit were ones who transferred from GME. What I have concluded from this data is that people are not paperhanding as much as we might think. It is difficult to say from the GME data whether or not the 250k number represents just people who have at one point invested and then left or if that also includes bots/shills but this data indicates that the indivduals on GME and now also r/SuperStonk are extremely active and bullish. Included below are photos from my phone during the initial transfer of users to Superstonk. + +[Screenshot at 5:51 AM EST](https://preview.redd.it/thqpd0wpdnr61.png?width=448&format=png&auto=webp&s=237ecd605de938c42dbdf1ff8fa1f38297a715df) + +[Screenshot at 9:09 AM EST](https://preview.redd.it/rryqm7urdnr61.png?width=441&format=png&auto=webp&s=fef9da464f985204854cde60dfa5c38c3f6fcdca) + +&#x200B; + +Now the important info here might seem minor but is a rather major bullish indicator to me. **By 4:51 AM 30,712 users had joined** r/Superstonk\*\*. By 8:09 am that number had increased to 66,092 members.\*\* Within hours of information regarding potentially negative actions taken by the moderation team becoming public a new forum was located and transfered too. (As of editing it is important to note that I am a hour behind the NYSE times so relatively it would be 5:51 am and 9:09 AM) . The takeaway I thought was most important was that there was a **high level of homogeneity within our community**. Not that we all act a like or that we encourage acting in a specific manner but that we tend to act as a group as a result of our individual choices. This might not seem relevant now but it will play a large role in the conclusion of this DD. + +TLDR: There are a lot of apes and each one owns enough that we own the float if not all the shares outstanding + +&#x200B; + +**Chapter 2: Short Interest and the Level 2 Book** + +Now the question that is most important is how much of the stock is actually shorted. **If you have been following the situation and reading the DD every day go ahead and skip past this part** but otherwise it is a refresher for those who might be questioning if short interest still exists in the stock and it helps to serve as a stepping stone for the conclusion of this DD. + +If there were no shorts on the stock then our play while fine from a fundamental standpoint where we invest in the future of GME will likely not be worth a million dollars per share any time soon. The gamble that our trade is betting on is that the Short interest of this stock is high enough that they will be forced to cover at whatever price we set. A short squeeze occurs when there are no shares available to purchase except at ridiculously price points. + +Now I will be frank the information out there regarding short interest is simply not accurate from the official sources. We have seen miles of foul play from the Hedge funds and the only sources of short interest that retail is provided is either given by research firms (Who as of writing have now announced they are no longer going to be providing SI numbers) and FINRA who is a self reporting agency who has changed their metrics regarding the calculation of short interest during this time period + +Tweet from Citron reposted by u/paymonofree + +[https://www.reddit.com/r/GME/comments/lodmqo/this\_is\_a\_january\_19th\_tweet\_from\_cintron/](https://www.reddit.com/r/GME/comments/lodmqo/this_is_a_january_19th_tweet_from_cintron/) + +Credit to u/joethejedi67 for pointing the FINRA data out + +[https://www.reddit.com/r/GME/comments/lu1fu5/finra\_changed\_how\_they\_report\_short\_interest\_this/](https://www.reddit.com/r/GME/comments/lu1fu5/finra_changed_how_they_report_short_interest_this/) + +&#x200B; + +That being said there is still significant evidence to show the existence of short interest in GME + +This article written by u/Unowned-Instruction seems to indicate that the Short interest is **Upwards of 2000%.** The article focuses on the presence of naked shorting effectively **Naked shorting is the practice of shorting a stock when the underlying asset being shorted does not exist.** I could summarize the article here like I have for the others but it is extremely detailed and I fear I would get details wrong or butcher the points made by the author by trying to summarize. I would highly recommend you read + +[https://www.reddit.com/r/GME/comments/mewkf8/thesis\_si\_is\_upwards\_of\_2000\_gme\_is\_a\_100/](https://www.reddit.com/r/GME/comments/mewkf8/thesis_si_is_upwards_of_2000_gme_is_a_100/) + +This article written by u/HeyItsPixeL discusses how firms are using **ETFS in order to short GME** without it appearing in official paperwork. The main one **XRT had such an extremely high short interest such that it was 200% short** during the time of writing. Effectively by using an ETF they are able to short the stocks within that ETF without otherwise being forced to disclose that the shares being sold are related to any individual stock within that ETF. + +[https://www.reddit.com/r/GME/comments/ls830a/found\_the\_reason\_for\_the\_dip\_they\_are\_shorting/](https://www.reddit.com/r/GME/comments/ls830a/found_the_reason_for_the_dip_they_are_shorting/) + +This article written by u/Animasoul and posted by u/PIanetary covers how **Short Selling a positive beta stock will cause the beta to go negative**. Beta represents how much a stock will move relative to the overall market. The average beta on a stock is 1 since the average movement of the market to itself is itself.Since the writing of this article 21 days ago the beta has gone from -8 to -20. This number is so ridiculously high that I cannot think of a single logical explanation as to how this possibly could exist except for the presence of short selling + +[https://www.reddit.com/r/GME/comments/m6i4z2/the\_mythical\_unicorn\_aka\_extremely\_abnormal/](https://www.reddit.com/r/GME/comments/m6i4z2/the_mythical_unicorn_aka_extremely_abnormal/) + +&#x200B; + +Now I could go on and on with evidence for the existence of short interest however there are plenty of DD out there that discuss why they exist and how much is speculated to exist. Furthermore it is not the purpose of this DD to prove the existence of short interest merely to provide enough evidence to form the building blocks of my argument. If you would like to verify the DD that indicates the existence of short interest and other factors there is a list that has all the available evidence and speculation and theories that has been posted over the last few months. + +[https://www.reddit.com/r/GME/comments/lj1wqv/a\_comprehensive\_compilation\_of\_all\_due\_diligence/](https://www.reddit.com/r/GME/comments/lj1wqv/a_comprehensive_compilation_of_all_due_diligence/) + +&#x200B; + +**If you skipped ahead past the short interest recap continuation begins here** + +Now I included the information on SI simply because I want to be extremely thorough in this DD and want to insure that each claim I make here is well researched and has a basis in reality. The more important portion of this chapter comes from the Level 2 book. + +Now for those of you who aren't familiar the Level 2 book is a list of the bids and asks on a certain stock and generally includes the volume at each price point. So for example if you look on the left side of the level 2 book you will see the price someone is willing to buy at and how many they are willing to buy at that price. Likewise if you look at the right side you will see how many shares someone is willing to sell and at what price. Now I have been personally watching the level 2 book provided by webull for the last few months keep in mind that this data does not include all trades or offers but it does show a variety of interesting pieces of information. + +First on the existence of trading algorithms. After watching this stock for the last few months you begin notice little patterns. One of the best signs of algorithmic trading is noticing interesting sizes for bids and asks being consistent. + +&#x200B; + +[Anybody in retail out here buying 23 shares exactly at 6 different values?](https://preview.redd.it/f32a1tiwonr61.png?width=319&format=png&auto=webp&s=8831b226e88fa5d87e22cff2d6be01f0175d618a) + +As you might have noticed the number 23 is quite common. Now I have been watching this level 2 book for a few weeks now and can tell you that the most common time you see these strange occurances of numbers is during low volume periods. They try and go for unusual numbers for a while 7 shares was the go to number for the algos but as of this post ( taken today 4/6/2021) 23 seems to be the golden number of the day. Now keep in mind I could provide other examples of this occuring but this illustrates my point and I would rather not dig through 1344 hours of footage just to provide a clearer example of algorithmic trading. It is important to note that when these unusual numbers appear the stock usualy either stagnates at its price point or goes down which indicates to me that this is a large fund or more likely multiple large funds using algos to manipulate the prices up and down. + +&#x200B; + +Now while the existence of bots is obviously alarming it isn't anything to worry about so long as we hold and in fact I only mention it because another DD I planned on writing but didnt involved these screenshots. No the important information can be very clearly seen in this image + +[Notice anything unusual?](https://preview.redd.it/uwvdlbckqnr61.png?width=325&format=png&auto=webp&s=69cda51c473bf0460755c66df83e5f975caa1391) + +Now I have been watching this stock and others on the level 2 books for weeks now and it isnt unusual to see a high or low number on the books every now and then. But those **extremely high numbers on the ask side** appear almost all the time on GME. If you watch this stock for more than 5 minutes at any given point in the day you will almost always see some ludicrously high number show up in the level 2 book. Consider if you will that the level 2 book reflects all available asks and bids that the broker (in this case webull) can see open in the market. In theory if this was all available asks then all that would be required to start the squeeze would be that you purchase all the asks above that number at one time. But unfortunately that is not the case. In reality there are almost certainty asks on other level 2 books which show values between 188.65 and 4500 and there is serious evidence of manipulation within the level 2 books due to the existence of ALO orders which allow for the creation of walls in the level 2 book. The main takeaway from this is that once an actual squeeze begins to occur and the shorts are forced to cover the price is going to rise ridiculously quickly. We joke about rockets on these subs all the time but this is going to be a pole going straight up when it occurs. + +TLDR: Insane amounts of short interest. Evidence of manipulation of official sources. Indications of serious algorithmic trading going on in level 2 book, and rocket ship could bolt up $1000 at any given catalyst. + +**Chapter 3: Tying it all together, Apes and the Prisoners Dilemma** + +So now all the evidence has been gathered and its time to tie it all together. Keep in mind the claim I am making with this DD is that **1 Million per share is not only possible but probable.** So lets recap what we already know. Apes likely own either the entire shares outstanding or at minimum the float of the stock. Shorters have gone banana's shorting the stock and the SI indicates that they owe way more than can be provided. The level 2 book shows both evidence of algorithms trading the stock and also that the ask side of the stock is so flimsy that on a dime the stock could rise thousands of dollars. + +So after adding this all together it all ends up coming down to what the Apes do. Institutions do play a role but whenever a stock is possibly 2000% shorted you can bet that even if every institution sells (BTW institutions own 200% according to bloomberg terminal) before us the shorters will eventually have to come to us and buy every single share that every ape owns in order to fix their short positon. Even if some apes do decide to paperhand out and miss out on the MOASS it still will not be enough in order to fix their issue apes still get to set the prices for their shares regardless of paperhands. The only way out of this for the shorters is to come and buy as many shares as they shorted. Now for those of you who are thinking to yourself hey I'm all in for the squeeze but 1 Million is ridiculous there is no way its going to get that high maybe itll hit 1k or 10k or even 100k if we are lucky. You guys are missing several key things that are going to occur once the squeeze starts happening. + +**First** many many people are going to start FOMO (Fear of missing out) into the stock once it starts to seriously rise. Remember that the reason why the brokerages restricted trading wasnt to stop the squeeze from occuring it was to stop investors from buying shares that they needed in order to cover and also to provide a smoke screen for them getting in position to destroy the share value and give themselves enough time to cover their asses. + +**Second** of all once the squeeze starts we are not going to be seeing a linear increase in the value of the shares we hold, it will be exponential. As you can see from the level 2 book data (second photo in that section) once the squeeze begins the only shares they will be able to purchase will be ones that are at those ridiculous price points in the thousands and it will jump there extremely quickly. Not only that but the shorters that were able to hold on will be slaughtered as their margins will go up to ridiculous levels and they will be forced to cover ( Or more likely the DTCC) . **It is important to note that people will be selling some shares on the way up but apes will likely be putting in their asks at the maximum values that their brokerages allow. This means that once we get moving up the price will increase by the maximum amount allowed by certain brokerages. They are forced to buy at whatever price is available to them regardless of what that price is. That is why we will see exponential growth**. + +**Third** the tricks they used to stop the short squeeze last time were temporary and cannot be used again. That's not to say they dont have new tricks but apes have migrated from Robinhood and other iffy brokerages that shut down during the blockage and Apes have held through thick and thin and continue to do so despite all the wacked stuff we have been seeing going on. Not only that but once the squeeze gets going we are going to see quite a few more primate companions join us on the way up to the moon/andromeda + +Now its important to know that we are not in a prisoners dilemma right now. They have shorted so much of the stock that they cannot avoid paying out unless we all sell. Even if we lose a few paper handers in the thousands or tens of thousands it wont matter. So long as enough of us refuse to sell for anything below a million the stock price will increase exponentially towards that million dollar value as people put in trades for the maximum possible values with their brokerages. The only play that these shorters have left is to make us think we are in a prisoners dillemma. You ever notice why the term bagholder became such a critical piece of their narrative. It was to shift our attention from them and focus our attention on the idea that our fellow apes would betray us rather than cooperate. But as the evidence has shown time and time again we have refused to play that game and I do not see any reason why that would shift once it becomes obvious to even non apes the position the shorters are in. + +Jeez this is long so ill keep the conclusion short + +**In conclusion 1 Million per share is not a meme** + +&#x200B; + +TLDR: Stock will increase exponentially not linearly when it increases this means that 1 million per share is more likely than many people currently think. + +&#x200B; + +If you like what I wrote leave a comment and a like it helps to avoid DD being drowned out + +**BTW I AM NOT A FINANCIAL ADVISOR SO KEEP THAT IN MIND. THIS SHOULD BE TREATED AS SPECULATION BY A SMOOTH BRAIN APE.** +What do you guys think of my plan below? I get paid on the 15th and 30th each month. I'm contributing up to the match of my 401k but because this is with my net pay of $2,033.93, it won't be included here. + +$250.00 - Roth IRA (VTSAX, will equal to max limit) + +$263.57 - Vanguard ETFs (VIG & VYM, taxable account) + +$203.39 - Emergency Fund + +$300.00 - Student Loans ($30k balance, 5-6% interest will start again in September) + +$75.00 - Credit Card ($1k left. 0% until September due to balance transfer. Will pay off with quarterly bonus when 0% expires) + +$474.64 - Rent (share a 1 bedroom with partner in socal) + +$175.44 - Car payment + +$291.89 - Disposable + +I set it up so that 50% is going to investments and emergency fund. Full disclosure. My emergency fund is starting from $0 due to getting rid of another debt. I understand I need to fund that first before everything, but I feel secure enough with my job and that if something were to come up, I can put a hold on the Vanguard payments. +Everything started on Twitter when a user showed a screenshot of a conversation with Unicredit customer support. He complained that he couldn't send money to FTX or Crypto.com + +The support told him to not do it because it's against the bank's policy. He asked where this policy was written and the answer was "it's not written in the contract, it's just a policy we have". + +The customer service told him also that anyone who tries to send money to any crypto exchange will be reported (to whom? Lol) and their account will be terminated. + +**After this post became trending on Twitter, the official Unicredit account tweeted a statement confirming that their policies forbid customers to send money to any crypto exchange.** + +You can see the thread here, however it's written in Italian but you can use Google translate: +https://twitter.com/UniCredit_IT/status/1479527599890173952?t=9PYE2-UqUCvtIdRMHjZEsw&s=19 + +I don't have an account at Unicredit because it's a terrible bank previously related with the worse politicians in the country, however it's a big European bank so I advise every customer to close their account and move to another bank. +*I hope this post fits this community!* + +I am 31 years old and have wanted to move to the United States, especially Texas, for a long time. It's a childhood dream, and I want my children to grow up in the United States. I don't have children yet, but they are firmly planned. + +I have a dual citizenship already so I'll have a triple in the future. + +Please don't start with "Why would you move to the States, Europe is a lot better?" etc.... My personal disadvantages are outweighed by any advantages. + +For the majority I'm not actually FIRE'd (who is?), but I am fat and I parted ways with my original company just before covid hit so I could go after my actual passions and go after my own schedule. Personally I'm pretty sure I'm fatFIRE'd but for a lot of people my passion looks like work to them so they don't see it as retired. + +I do VC with a group of people I got know the way along, I'm a BOD in four companies in Switzerland and manage about 80% of my own assets. These companies in Switzerland don't need me personally, we do everything with Zoom or Teams nowadays. If I'm needed, it's no problem for me to fly over or send someone to solve the problem or whatever. + +30% of my properties are managed by a company in Switzerland, the other 70% are already managed by my family's private company. I have sold a few units in the last 1.5 years and I am thinking about getting real estate exposure in the States. Real estate is a smaller part of my net worth so it doesn't matter that much, but I still like it as a hedge for worse crises, thats why I would love to have exposure near me in the States. + +Of course, since I plan to come to the U.S., I'm already talking to other VCs and entrepreneurs in America. All of my VC investments are alpha and not beta at all, my beta is very well suited for raising a family - So I shouldn't be a problem for the USCIS or IRS. + +So my question is, is it easy to move to the US as a HNWI, become an American, get involved in the business world as an investor and advisor, and buy some real estate for rental purposes? + +At the moment I have no family office but I'm planning to establish one. That shouldn't be a problem if its domicile is in Switzerland? + +I'm already in conversation with an expert but I still want to hear some other voices and their advice! + +Thanks a lot for your help in advance, I really appreciate it and happy holidays! +It's going to take a while for folks who survived the last bear to shift their mindset to a bull market, including me. + +These tips are mostly for long-term investors, but others may also find them useful. + +**In an early stage bull market:** + +* Don't underestimate the greed which can overtake this market once FOMO starts to set in. Right now, we are just getting the very beginning of FOMO, mostly from old hands- retail and likely even institutions are not here in any significant capacity. +* Don't try to stop a moving train by doing stuff like shorting, you will very likely get run over. +* Don't try to jump from coin-to-coin if you are long term investor- you will almost always end up in the slow lane. You are possibly looking at 15x to 50x in returns. Don't get unnecessarily greedy. +* Don't forget about short term capital gains if you live in the US or similar jurisdictions (usually taxed at a high marginal income tax rate). Get quality investments for planned 1+ year holding periods for long term capital gains treatment as quickly as possible. +* Don't wait for retraces to get your long-term holding positions, you'll likely get left behind. +* Don't get stupid with leverage, because a simple and short-lived retrace may leave you completely rekt, and from current valuations, taking that additional risk may be completely unnecessary to achieve life changing returns. +* Don't worry about when a 30% to 40% retrace will happen- it very likely will, but the price might be 50% to 100% higher from what it is now when that happens. +* Don't freak out when local retraces happen- hold and possibly add to your position, managing your overall risk and exposure appropriately. +* Don't sweat day-to-day movements- the trend over the next 2.5 years or so is very likely to be up, up, up. +It's going to take a while for folks who survived the last bear to shift their mindset to a bull market, including me. + +These tips are mostly for long-term investors, but others may also find them useful. + +**In an early stage bull market:** + +* Don't underestimate the greed which can overtake this market once FOMO starts to set in. Right now, we are just getting the very beginning of FOMO, mostly from old hands- retail and likely even institutions are not here in any significant capacity. +* Don't try to stop a moving train by doing stuff like shorting, you will very likely get run over. +* Don't try to jump from coin-to-coin if you are long term investor- you will almost always end up in the slow lane. You are possibly looking at 15x to 50x in returns. Don't get unnecessarily greedy. +* Don't forget about short term capital gains if you live in the US or similar jurisdictions (usually taxed at a high marginal income tax rate). Get quality investments for planned 1+ year holding periods for long term capital gains treatment as quickly as possible. +* Don't wait for retraces to get your long-term holding positions, you'll likely get left behind. +* Don't get stupid with leverage, because a simple and short-lived retrace may leave you completely rekt, and from current valuations, taking that additional risk may be completely unnecessary to achieve life changing returns. +* Don't worry about when a 30% to 40% retrace will happen- it very likely will, but the price might be 50% to 100% higher from what it is now when that happens. +* Don't freak out when local retraces happen- hold and possibly add to your position, managing your overall risk and exposure appropriately. +* Don't sweat day-to-day movements- the trend over the next 2.5 years or so is very likely to be up, up, up. +**Intro** + +I've been trying my hand in Day Trading since around September; its been a fun, knowledgeable, exciting experience and incredibly enjoyable. By now I fully believe that my "Market Tuition" has been paid in full and its time to rake in consistent profit. I have made a fair amount of money on the side recently but mainly from meme stocks and I happened to get into Dog Coin early, but I'm done with that because I want a little more constancy and less risk in my bets. I only used them to cover the past losses I had from day trading, but the losses are now getting less frequent and my day trading portfolio is starting to turn green. I'm making this post for two reasons. First for support, Second for critiques on my strategy and execution of trades. Hopefully this might be easier with a little wind at my back, and if a make a bad decision someone can tell me. + +**Strategy** + +I will be trading mainly in Put Options. My plan is to buy put options on Pre-Market Top Gainers with a 2 day expiry (I made sure to check that my brokerage offers this). I won't go at random, I'l only bet against ones that have been historically going down, and with a weak catalyst. The strike will be set to 10% below whatever it opens at the day of the gap up. I've crunched the numbers and it looks promising. + +1 Month Data: + +[https://docs.google.com/spreadsheets/d/11mFiALzlrgTsUNOZGcqq7WimDql7tYasFQNnvpuE2qg/edit?usp=sharing](https://docs.google.com/spreadsheets/d/11mFiALzlrgTsUNOZGcqq7WimDql7tYasFQNnvpuE2qg/edit?usp=sharing) + +The data says that the strike will be met around 66-75% of the time. I know that through my judgment of an OK vs a Good vs a Great Catalyst that my personnel accuracy is closer to 85%. The returns on a good bet are enough to cover the loss on a missed option and then some. + +&#x200B; + +**Postings** + +I'm not going to claim to be something I'm not. I don't think I'm very smart, and I make mistakes very often; the only thing I know for sure, is that I know very little of what there is to know. I'm going to be upfront about my goofs and failures. I'l try my best to post my results weekly on Friday Night. My post will include my profit/loss, Options made and fulfilled, reasoning behind my actions and my side thoughts. If I quit trading than I'l say so, and If I quit my job/school and trade for a living I'l say so. + +&#x200B; + +*To preemptively answer questions:* + +No I'm not a beginner, but I'm also not a seasoned by any means, I have roughly 9 months experience, and I would never call it "9 Months of Solid Experience" + +I'm choosing Put Options over Equities because I'm going to back out once the stock is down 10% regardless, and Options has larger returns and is a little bit more safe + +The reason I'm doing a Regular Put over a Naked Put with a Stop Loss is because the Stocks that I choose tend to shoot up 10-20% within 10 minutes and than crash. As its to risky to not use a stop loss, a large amount of profit would be thwarted by it, so it seems smarter to go with a Regular Put + +I will 100% take of the advice from the comments into consideration + +I'm trading on IBKR Pro + +&#x200B; + +Thanks for reading, and my apologies for any bad grammar/sentence formatting or miss used terminology + +Edit: Fixed grammatical and fixed terminology mistake +Relatively new to investing however I have a finance background and some money set aside I'm comfortable to lose in the process of learning option trading. + +&#x200B; + +I'm not sure if I'm just missing something, but is it possible to trade option contracts in the UK? It seems to be the most common elsewhere but here it's only CFD's / Spread Betting. Is there any UK brokers that allow calls/puts? +As the title says GME has a decent jump after hours. + +Any ideas? + + + + + +My first post was removed for being too short so here are some quotes from famous people as per goog + + +Quotes by Famous People + +1. The greatest glory in living lies not in never falling, but in rising every time we fall. *-Nelson Mandela* +2. The way to get started is to quit talking and begin doing. *-Walt Disney* +3. Your time is limited, so don't waste it living someone else's life. Don't be trapped by dogma – which is living with the results of other people's thinking. *-Steve Jobs* +4. If life were predictable it would cease to be life, and be without flavor. *-Eleanor Roosevelt* +5. If you look at what you have in life, you'll always have more. If you look at what you don't have in life, you'll never have enough. *-Oprah Winfrey* +6. If you set your goals ridiculously high and it's a failure, you will fail above everyone else's success. *-James Cameron* +7. Life is what happens when you're busy making other plans. *-John Lennon* +🔴 CoinMerge 🔵 + +Telegram: https://t.me/CoinMergeMain + +🚀 CoinMerge is a new Crypto Currency with newly trending tokenomics as well as a Utility platform in development. Our code is powered by Fair Token Project to provide our holders with unique Ethereum yields on every transaction, as well as a community wallet that is used to reward and drive community engagement through competitions, giveaways and for members who go the extra mile to help our project. 🚀 + +🔥 The CoinMerge Platform is our Utility Platform that is currently under development. It is being designed to be a single web page where users can track charts, read raw Crypto data and transaction histories, as well as have access to a robust, multi channeled chat room to connect with community members all in the same place. 🚀 We plan to combine the functionality of sites like 📊 Dex Tools 📊 with the Community engagement of 📨Telegram 📨 into a single site. What is more, the CoinMerge platform has partnered with Q-Finance and will have a fully integrated CoinSwap built in as well. The swap is revolutionary as it will also allow traders to make up to 🎉 FIVE 🎉 swaps in a single transaction for less gas than if they were to make each of those swaps individually. 🔥 + +And CoinSwap only gets better. 🔥 As with any swap, every time the swap is used, there is a small transaction fee that is built into any swap. This is true of Uniswap, Shibaswap, and many more. CoinSwap would have such a fee as well. HOWEVER, we have decided to put the majority of every CoinSwap transaction fee back into 💰YOUR💰 pocket. + +That's right. Because of our unique Smart Contract, and Eth Yields, we are routing the majority of that fee of every CoinSwap transaction back into the Eth Yield pool, which then distributes that Eth, to you, our beloved holders. + +Let's talk more about + +📊 Tokenomics 📊 + +🚀 Total Supply: Only 5 Billion +🚀 Starting price was be 0.000004 +🚀 Starting Liquidity was 20k +🚀 5% Eth yield returns on every buy sell and CoinSwap Transaction 💰 +🚀 1% Community Wallet +🚀 4% Project development wallet + + +📋 Contract Address: +https://etherscan.io/token/0x1190074795DAD0E61b61270De48e108427f8f817 + +🥞 Purchase Link: https://app.uniswap.org/#/swap (Click the ⚙️ and set slippage to 12% - 14% + +📌 Social Links and More 📌 + +🔥Official Website: https://www.coinmerge.io/ 🔥 + +FTP to view and claim your Eth: https://app.fairtokenproject.com/ +*Remember to connect your wallet + +CoinGecko: https://www.coingecko.com/en/coins/coinmerge + +Coin Market Cap: https://coinmarketcap.com/currencies/coinmerge/ + +Discord: https://discord.gg/EMnzUGppMQ + +Telegram: https://t.me/CoinMergeMain + +Twitter: https://twitter.com/coinmerge?s=21 + +Facebook: https://www.facebook.com/groups/898383967383962 + +Instagram: https://www.instagram.com/coinmergeofficial/ + +Reddit: https://www.reddit.com/r/CryptoMoonShots/comments/oh23c0/coinmerge_making_telegram_and_dextools_obsolete/?utm_medium=android_app&utm_source=share + +TikTok: https://www.tiktok.com/@coinmerge + +Youtube: https://www.youtube.com/channel/UCSX0TGWLw14Cq1fuoJIA5yw + +Stocktwits: https://stocktwits.com/symbol/CMERGE.X + +Also Important + +Dextools: +https://www.dextools.io/app/uniswap/pair-explorer/0xa2074f8857972ce0049ec8348ac2e75e7a32b821 + +Liquidity Lock: +https://etherscan.io/tx/0x32ab43f959a69dae39f64c77990b8cc512aa175ff3d2cd9972deef3d503d9d23 + +https://etherscan.io/tx/0x8c3ebb4ce92478af0148a7b9890c802a11e07f222eff330b33ff2f99cea7d422 + +Etherscan: + +https://etherscan.io/token/0x1190074795DAD0E61b61270De48e108427f8f817 + + +Multi Lingual Chat rooms (More to come!) + +Chinese: https://t.me/Coinmerge_China +Dutch: https://t.me/coinmergedutch +French: https://t.me/CoinMerge_FR +German: https://t.me/CoinMerge_GER +India: https://t.me/CoinMergeIndia +Japan: https://t.me/Coinmerge_Japan +Romania: https://t.me/joinchat/CfRpyM5aXHc5OWVh +Spanish/Portuguese: https://t.me/coinmerge_spanish_portuguese +Turkish: https://t.me/Coinmerge_Turkish +Where do I even begin. + +I’m currently 24 and have recently (3 months ago) changed jobs to what I thought was going to be a much better chance at a career with progression. + +For context, I have no degree/any actual useful skills on paper. + +I spent the last 4 years working at a minimum wage customer facing retail job (storage company) which had monthly bonuses too but they weren’t guaranteed. I hated the job and was severely overworked and underpaid/not appreciated. + +I finally built up the courage to make a change for myself and applied for lots of “better” jobs. I got an interview and took the job as it sounded great and was offering more money (after the first 6 months probation) than my previous dead end job. + +All started well, but 3 months in I have realised I cannot perform well in this role. It’s a high paced sales role making outbound phone calls to sell insurance. I essentially am sitting at home (WFH) for 7.5 hours saying the same sentences over and over and over again. It’s so mentally draining. + +I’ve been looking for other jobs online but cannot find anything as I’m coming to the realisation that I am a pretty useless person when it comes to work. I have no qualifications other than school. No relevant experience in any decent sectors of work. + +I currently rent with my girlfriend (£1050 pcm + all other bills) she earns more than I do currently but wouldn’t be able to pay everything on her own. + +This has made me feel so useless and stuck. For my own mental health I feel like I need to leave this current job as every day is getting harder and harder for me to take it. My problem is that if I do quit, it could take me months to find another (better?) job again and even then it’s likely going to be the same kind of job due to my limited skills. + +At this point I am genuinely feeling so trapped in my situation that it is making me want to end it all. + +How can I progress career wise or at least get my foot in the door in a decent working industry? + +It feels like my destiny is full of retail jobs with no skill needed or “sales” jobs where my only ‘skill’ is having a voice to read a script with. + +Tbh I’m not sure why I’ve even written all of this out but any advice at all would be appreciated. + +*EDIT* Wow thank you so much everyone, I really appreciate all of the responses. They are coming in a little too quick for me to respond to everybody but trust me I am reading every single word and taking it all in. + +I’ve also had lots of people PM me with more advice, so thank you again and apologies if I haven’t replied to you yet! I wasn’t expecting such a large amount of support and help. + +You are all life savers! +# TL;DR: This DD will mix together the market manipulation through options, DTCC clearing rules, FTDs, and tinfoil theories for a delicious blend of confirmation bias. The MOASS was prophesied years ago, and we will use the Wayback Machine to highlight important data. Wen moon? 03/01/22. 🦧🚀🦍🚀🐸🚀🍦🚀 + +I’d like to take you on a journey through time. There was a challenge set up only for those who could really take it. There was something hidden in plain sight, and if you saw it, then you were brought to the first challenge. If you fulfilled this challenge, you began participating in the game. + +\------------------------------------------------------------------------------------------------ + +0*5/19/1962* – Before we embark on this journey, I wanted to stop by [President Kennedy's birthday gala in Madison Square Garden](https://www.youtube.com/watch?v=qvoqK6aLE2E&t=1s). I figured it would be a good ambiance to explain some important tools that the "suits" use to keep us poor. In these days, investing was largely reliant upon fundamentals of the underlying. As financial technology developed, new methods developed to speculate on market trajectory. Derivatives sprang up to bet on the direction of the underlying, which gave opportunity to those seeking more risk and leverage. There was, however, *a shift*. **The derivatives market grew so large and complex into a House of Cards that they began moving the underlying rather than betting on it.** + +***There are two teams in this fight. Team GameStop***🚀🦍 ***& Team Shit Face🌈 🐻*** + +🚀🦍 Team GameStop simply wants to create value for shareholders and build an extraordinary company that delights customers. + +🌈 🐻 Team Shit Face is a conglomerate of Market Makers, Hedge funds, Banks, and Authorized Participants who have manufactured financial tools in order to suck as much value as they can from U.S. investments. In 2014, Team Shit Face saw an opportunity: Brick-and-mortar video game sellers seemed to be a decaying industry, and GameStop had a debt problem with questionable leadership. *The objective was simple:* Profit from the bankruptcy of GameStop. The method was complex. There are a host of instruments they use which include: Naked short selling, ETF basket creation, variance swaps, high frequency trading, payment for order flow, futures contracts, failures to deliver and more. + +***Three things I plan to highlight in our journey through time:*** + +**1. Naked Short Selling** + +**2. Options Clearing, Hidden Short Interest, & FTDs (C+35)** + +**3. Continuous Netting System & Supplementary Liquidity Deposit** + +\------------------------------------------------------------------------------------------------ + +***03/7/2004*** – In 2004, [we can find confessions from market makers and detailed playbooks](https://archive.is/KSS6m) describing the techniques used to bankrupt companies to suck value out of companies: + +>In order to participate in “CELLAR BOXING”, the MMs first need to pummel the price per share down to these levels. The lower they can force the share price, the larger are the percentage spreads to feed off of. This is easily done via garden variety naked short selling. While the right hand is busy flooding the victim company's market with "counterfeit" shares that can be sold at any instant in time the left hand is nullifying any upward pressure in share price by neutralizing the demand for the securities. The net effect becomes no demonstrable demand for shares and a huge oversupply of shares which induces a downward spiral in share price. + +It is obvious why this is attractive to Team Shit Face. They take a short position on a company then use market making powers to ensure company decreases in value. Naked short selling is supposed to be illegal, but [market makers are legally allowed to naked short sell stock.](https://www.sec.gov/investor/pubs/regsho.htm) + +>“Naked” short selling is not necessarily a violation of the federal securities laws or the Commission’s rules. Indeed, in certain circumstances, “naked” short selling contributes to market liquidity. For example, broker-dealers that make a market in a security[\[4\]](https://www.sec.gov/investor/pubs/regsho.htm#_ftn4) generally stand ready to buy and sell the security on a regular and continuous basis at a publicly quoted price, even when there are no other buyers or sellers. Thus, market makers must sell a security to a buyer even when there are temporary shortages of that security available in the market. This may occur, for example, if there is a sudden surge in buying interest in that security, or if few investors are selling the security at that time. Because it may take a market maker considerable time to purchase or arrange to borrow the security, a market maker engaged in bona fide market making, particularly in a fast-moving market, may need to sell the security short without having arranged to borrow shares. This is especially true for market makers in thinly traded, illiquid stocks as there may be few shares available to purchase or borrow at a given time. +Rule 204 provides an extended period of time to close out certain failures to deliver. Specifically, if a failure to deliver position results from the sale of a security that a person is deemed to own and that such person intends to deliver as soon as all restrictions on delivery have been removed, the firm has up to 35 calendar days following the trade date to close out the failure to deliver position by purchasing securities of like kind and quantity. + +Market Makers can sell shares that don't exist to provide liquidity, as long as they find shares to deliver within 35 days. This market mechanic makes sense in theory, *but it's easy to see how a MM could abuse this power, especially if they coordinate with Hedge Funds*. + +***09/23/2010*** \- Blockbuster goes bankrupt. They were the victim of creative destruction as streaming services and more technologically advanced companies took their market share. Similar things happened 8 years later to Sears and Toys R Us. With outstanding debt, it was near impossible to raise capital to keep these companies afloat. Short selling funds made unfathomable amounts of money and they barely had to lift a finger. All they did was press a button and they received millions of dollars. It was like heroin. They didn’t even have to close their short positions because the companies went out of business, so in some cases they didn’t even have to pay tax. + +***04/2/2013*** – Team Shit Face is addicted to these types of profits and looking for their next hit. They don't need to create anything of value or expend any effort, they can literally siphon dollar bills out of investors pockets and use their market power to ensure they win. In 2013, they set their eyes on another target. The Tesla squeeze is a war that has been waged for over a decade. Studying the movement of this stock can teach us a lot about tactics used to deter investors and manipulate share price. [Here is what an investor noticed in 2013:](https://teslamotorsclub.com/tmc/threads/the-rolling-naked-tesla-short.15417/) + +>There's a pattern of trading which indicates a large player is using options to hold on to a rolling naked short position. Looks like maybe millions of shares. What he does is pre-arrange a trade with a market maker where he sells a huge number of deep in the money calls at a discount to intrinsic value. The market maker on the other side is happy to buy them because the market maker hedges by shorting tesla above 44 ahead of the trade, and then immediately exercises the calls to neutralize the market maker's position. +The market maker exercises the calls. Now what happens is the shorter goes into the exercise pool and gets assigned on most or all the calls. Tomorrow his position will show that he's short 500,000 tesla shares. +Now he's got 3 days to locate the shares (t+3 settlement). He won't pay carrying charges until settlement. But the trade will never settle because he can't find the shares and again, he doesn't want to pay the carrying charge. + +**This was an average investor who looked at open interest to notice two key ways that Team Shit Face hides short interest and manipulates price.** + +1. They sell options to each other at discounted premiums to claim access to millions of shares +2. They exercise and fail these options to roll liability into the future + +***08/9/2013*** **–** [Here](https://www.sec.gov/news/press-release/2013-151) **is a press release from four months later that highlights some of the ways that options are used to hide short positions and evade certain requirements of the short-sale rule.** + +>• Continuous failure to deliver positions +• Using buy-writes, married puts, or both, particularly deep in-the-money buy-writes or married puts, to satisfy the close-out requirement +• Multiple large trades with the same trader acting as a contra party in several hard-to-borrow or threshold list securities; often traders assist each other to avoid having to deliver shares + +***07/26/2019*** – When we come back to 2019 it’s easy to see what was so attractive about Team Shit Face’s position. GameStop had steadily declined over 5 years and they were only months away from GameStop defaulting on debt obligations and granting the ultimate payday. + +**There was a perfect storm. Citadel could legally naked short sell the stock in order to “provide liquidity”. Hedge Funds made millions on short selling the stock and selling worthless far dated futures. They sold variance swaps and then hedged those swaps by building a replicating portfolio. They sold far OTM options, hoping that the calls would expire worthless and then exercises the puts to increase downward pressure. This doesn’t even take into account the institutional shorting on brick-and-mortar indexes in general, as well as the massive manipulation through ETF creation baskets.** + +Keep in mind, Team Shit Face has been doing this for years. We have had AMAs with industry professionals who noticed these manipulation strategies over a decade ago. It was no secret that GameStop was being shorted into oblivion. It was also evident that going long on the victims of Team Shit Face can be massively profitable, such as Elon stock. That leads us to early March 2020. + +***03/4/2020*** – Team Shit Face was inches away from one of the most coordinated and malicious robberies of American finance. [Then the game began. Take a look at the Wayback Machine.](https://web.archive.org/web/20200304172226/https:/www.marketbeat.com/stocks/NYSE/GME/options/) Notice the dates highlighted: January 15st 21, April 16rd 21, July 16nd 21, and Jan 21th 22. + +Someone intentionally archived this options page, leaving a little bread crumb for apes to begin solving the puzzle. Look at the dates. Anything stand out? On surface level, none of these dates mean much to the stock's value. If we want to see how these specific dates fit into the GameStop saga, we need to go over some market mechanics. + +These dates had massive open interest on both long and short options. Think about the years of hedging and institutional investing that went into LEAPs at strikes of $30, $35. With the dramatic price movement since this date, all of these puts are completely worthless and every call is deep in the money. **This means that basically every long term option purchased before Ryan Cohen's investment is bullish, even the ones written and purchased by Team Shit Face to hedge.** + +***08/31/2020*** – Ryan Cohen sets his eye on the transformation of GameStop. He purchases millions of shares and writes a letter to the board detailing plans for transformation. The stock price went up by 22.26% after his initial investment. The stock was already illiquid because no investors wanted to sell out of their positions at such ridiculously low prices, so the purchase from Ryan Cohen made the Market Makers naked short sell a lot of stock. As we read earlier, if the stock isn't settled in 2 trading days, it becomes a failure to deliver. + +>That such person intends to deliver as soon as all restrictions on delivery have been removed, the firm has up to 35 calendar days following the trade date to close out the failure to deliver position by purchasing securities + +***12/02/2020*** – On this day, failures to deliver spike by 1000%. 1,061,397 shares FTD on Wednesday and 1,787,191 FTDs on the following day. These numbers stay high for about a week, then level off. It is indicative of another large insider purchase, and later confirmed by [Ryan Cohen's filing](https://news.gamestop.com/node/18371/html) on December 18st, 2020. + +***01/13/2021*** – Team Shit Face really begins to sweat. The internalization was getting out of hand. They were attempting to roll FTDs but there were too many being generated every day. At the same time, millions of retail investors started buying shares and short dated options. The combination of hedging, buying pressure, and lack of liquidity caused GameStop to skyrocket. + +***01/27/2021*** \- The price of $GME has thoroughly begun its launch to the moon. It continues to climb and brings more and more calls ITM. There is added intensity because yearly options expired January 15rd, which were now heavily skewed long. + +After the 3rd Friday, the Options clearing period begins and each Authorized Participant needs to post a Supplementary Liquidity Deposit. The Continuous Net Settlement (CNS) System works to net trades with calls and puts, effectively cancelling out most pressure. SLD is estimated based on historical averages for clearing, but there are so many calls being exercised to so little puts that the netting system is broken, and Team Shit Face is left with a massive debit. Check out page 74 & 250 in the [NSCC Rules & Procedures](https://www.dtcc.com/~/media/Files/Downloads/legal/rules/nscc_rules.pdf) for more. + +>“CNS is an on-going accounting system which nets today’s Settling Trades with yesterday’s Closing Positions, producing new short or long positions per security issue for each Member. Each day, Settling Trades shown on the Consolidated Trade Summary are netted with the Closing Positions which have been carried forward from the previous day. The resulting net positions represent the quantity of each security due for settlement by the Member on Settlement Date. A long position represents the quantity owed to the Member by the Corporation (the Member’s fail-to-receive). A short position represents the quantity owed to the Corporation by the Member (the Member’s fail-to-deliver). The Corporation is the contra side to all long and short positions. +Each member has the ability to elect to deliver all or part of any short position. It controls this process by Exemptions. By indicating a particular quantity as an Exemption, the Member directs the Corporation not to settle certain short positions or portions thereof. Exemptions govern short positions in the CNS Stock Record and not Designated Depository positions. All short positions or positions thereof for which no Exemption is indicated are settled automatically to the extent that the Member has made such securities available in the Member’s Designated Depository account or they become available in its Designated Depository account through other depository activity.” + +**Basically, Ryan Cohen's massive stake in the company drove the price up a ton because it was so illiquid. As these FTDs came due from the early December trade, a snowball turned into an avalanche. Retail investors hopped on the bandwagon and bought a ton of ITM calls with no puts to net against them in the clearing period. All the APs that posted SLD were left with a fat balance owed and panicked.** + +***01/28/2021*** \- The Authorized Participant that Robinhood goes through sends Vlad Venmo request for $3 billion, with the caption “If you make these stocks PCO then you won’t need to put up SLD for them”. *Robinhood promptly deletes the buy button.* + +**Team Shit Face had no choice but to double down on their position. They shorted it back down as far as they could and cash settled as many call contracts as possible so they didn’t need to buy at market. The SEC report shows that they did not close their shorts.** + +**Team Shit Face likely sold far dated options to each other in order to kick the can down the road and account for their short positions with the OCC. This can be seen in the spike in open interest for 01/28/2022 and 01/20/2023. They then likely used exemption claims to elect not to settle short positions for extended periods.** + +**Once these Deep Out of the Money puts expire worthless, the married calls will not be properly netted and it will drive upward pressure on the stock like in Tesla's case. It is very cheap to roll DOOMPs forward, but the lowest strike price is now 20x higher for next year. Meaning that they can roll their short position forward, but they need to increase their strike range and netting average.** + +***02/23/2021*** \- Market Maker FTDs are due for January 15th expiry. January 15rd + 2 trading days = Wednesday Jan 19st + 35 Calendar days = Feb 24rd🐸🍦. Remember the options in the [Wayback Machine?](https://web.archive.org/web/20200304172226/https:/www.marketbeat.com/stocks/NYSE/GME/options/) Here are the dates that were shown: + +01/15/2021 - Options settle the following Wednesday. MM FTD + C35 -> Feb 24st. + +04/15/2021 - Options settle the following Tuesday. MM FTD + C35 -> May 24rd. + +07/16/2021 - Options settle the following Tuesday. MM FTD + C35 -> August 23st. + +01/21/2022 - Options settle the following Tuesday. MM FTD + C35 -> March 1nd. + +**Typically, we assume that options would settle in T+2. However, because of manipulation tactics used by sHFs and Citadel, the options fail to deliver and are not properly netted until 35 Calendar days later. These are the last four days in the Wayback Machine from the original planners.** ***We finally have the date to end all dates.*** **And it's a Tuesday morning.** + +\------------------------------------------------------------------------------------------------ + +**Now that we have an understanding of how Team Shit Face manipulates price with options and how their failure to net almost led to the collapse of the system due CNS system...** + +***02/14/2022*** \- SC 13G/a is [filed](https://gamestop.gcs-web.com/sec-filings/sec-filing/sc-13ga/0001104659-22-022357) with the SEC. Susquehanna Securities, LLC reports ownership of 3,056,239 shares of GameStop. *What Is Schedule 13G?* The Securities and Exchange Commission (SEC) Schedule 13G form is an alternative filing for the Schedule 13D form and is **used to report a party's ownership of stock which exceeds 5% of a company's total stock issue** (filed within 45 days). + +**This is important because we know Susquehanna is on Team Shit Face. No, they didn’t switch sides.** They likely didn’t have a choice but to exercise their long-dated contracts that they previously purchased in order to hedge. Another likely scenario is that they purchased these calls from another firm such as Citadel’s hedge fund with a discounted premium in order for someone to hide their short position. These calls were not settled at market and the FTDs for these shares + millions more will come due within the next two weeks. These strategies are reminiscent of tactics used to manipulate car stock. + +***Speculation:*** These shares will be used to roll FTDs then will be married to a put for bookkeeping purposes. At futures rollover they'll likely be sold to satisfy swap agreements, but the married put will stay posted to OCC, yet exempt from short position settlement because the entire system is corrupt. + +***02/16/2022*** \- Finra releases inaccurate data for second half of January 2022 (even with wrong dates). Goes to show just how corrupt our financial system is. The C+35 FTD dates include 2/19-3/7, so mark your calendars. + +***02/22/2022*** \- Ryan Cohen's 69th tweet is the shorts emoji. + +\------------------------------------------------------------------------------------------------ + +**TA;DR: Get off Reddit and go outside. DRS your shares and enjoy life. GameStop is going to the moon. You have all the confirmation bias you need, now go drink water.** +1. Egregious "final attempt" of short selling occurred on black friday, to manipulate the close below $200, to prevent $200 strikes being ITM +2. Reports are in, that retail buy orders did not go through during regular trading hours on black friday (which happened to be the worst black friday for the Dow Jones since 1931) +3. Citadel curiously stopped after hours trading on GME at 3:37pm EST +4. Reports are in, that retail orders were delayed until monday +5. Because of B.1.1.529 (otherwise known as the 'horrific' killer Omicron virus strain) NSCC's capital requirements for margin (due to value-at-risk and EVWMA volatility coefficients increasing) just went up, while value of other collateral went down (across the board assets), thereby causing margin calls for funds holding outsized short positions on GME stock. This is verified by twitter reports of pending short-position liquidations based on failures to satisfy these margin calls. +6. Last time the VVIX jumped at these levels (skying through 138 in full 'crazy' mode) was January 27th, the day before the GME squeeze and before the 'buy' button was illegally removed by brokers +7. Friday's close put GME at a 4 week TTM squeezer indicator on the weekly +8. Gamestop's app (from the appstore) just jumped to top 30 from 68 +9. Loopring's SDK complete and L2 Wallet complete. Waiting on Fiat payment processor to confirm. (liftoff imminent) +10. GameStop's E T H address received multiple $15,000 test payments, in a test of the new non-fungible asset ( N F T ) marketplace +11. Ramp &amp; Flexa Network to be used for LoopRing's Fiat currency processors, for Gamestop's counterfactual Non-Fungible asset ( N F T ) wallet +12. Last time VIX was that high, the day after GME exploded. + +https://preview.redd.it/v6fj7nqbmb281.png?width=415&amp;format=png&amp;auto=webp&amp;s=b643a2057b8679093282ca7dc77155f0822106af + +TL;DR: Buckle up, we moon 🚀. BUY HODL DRS. nO fiNanCial adViCe. + +Credit to u/Money-Maker111. Thanks 🙏 for the work. +I earn 3800 a month after taxes. My workplace is in a really nice place in the city center exactly 2.3 kilometers away from my parents house so I live with them (24 years old) and there is no way I can afford a place that close to my work and it doesn’t make sense to move further away and endure the commute. + +Anyways, + +I have been getting paid since April and I only saved 2600! I have no idea what I have been spending so much money on so I checked. It’s mostly clothes (work clothes) entertainment(subscriptions/movie night outs/drinking/books) and food (eating out with friends) and I also bought a computer to my little brother. + +What do you guys think? Is it normal having saves that much? How can I save more? +Husband’s grandma passed away and left him some gift money. After all the tax and fees, it comes to a little under $200k. + +Husband and I are both 28. We have been maxing out 2 401k, 1 Roth IRA and 1 family HSA. We have a 9 month emergency fund sitting in an HYSA and I-bonds. The checking account we use for monthly expenses has the max OOP amount plus 1 month expenses. We also have $35k saved for baby in a 529 account under my name (in case he can get scholarship in the future). We both have no debt other than a mortgage of $345k sitting at 2.5%. + +I did everything I could to set us ahead, because we did not expect any inheritance. This chunk of money is a surprise and we just don’t know what to do with it. Should we utilize it to create some passive income? + +My parents suggested we look into investing in real estate (rental), but we have zero knowledge in this space and we are both not very handy. My in-laws thought we should give e-commerce a try. I don’t want to burn through it doing something we have no clue about. Is there some courses we can take to educate ourselves? +I’m in the process of buying a house cash. Probably important information, I’ve never bought a house before. When I made my offer ($170k), I brought a proof of funds letter from my bank. After negotiations, the price we agreed on was $172k. My agent told me they want an official bank statement with my name on it. I sent her a screenshot of one account with $172k in it. That’s not good enough, they want to see the official one. Thing is, I could buy this house two times over. However, what’s in my bank account is no one’s business but my own. Is this common practice to ask for this? Other important info, I was their only offer and the sellers seem, to me, a bit demanding. They countered my initial offer with $15k higher than my offer, and asked for twice the earnest money and a 15 day closing. Then after accepting my offer still wanted more earnest money. I don’t want the deal to fall through but I don’t see any reason to disclose my entire bank account. + 💰 CHUMP CHANGE has just stealth launched to give everyone a fair chance at some nice potential gains! Liquidity has been burned and ownership has been renounced 💰 + +Tokenomics: + +12% Tax : + +♻️ 11% to Liquidity Pool♻️ + +♻️ 1% back to Holders♻️ + +Total Supply: 20,000,000,000 CCG + +Max Hold Amount: 300,000,000 CCG(1.5%) + +Max Buy: 100,000,000 SNT (0.5%) (NO WHALES ALLOWED) + +✔️ Verified contract: + +[https://bscscan.com/address/0x878ae6ceea6466d70dbc5550f0427d096c4d9cde#code](https://bscscan.com/address/0x878ae6ceea6466d70dbc5550f0427d096c4d9cde#code) + +✔️Ownership Renounced: [https://bscscan.com/tx/0xe6891a1987fa629d76677438ed2c58a71d870332aaffeac3b4d5ef9d487b9cd0#eventlog](https://bscscan.com/tx/0xe6891a1987fa629d76677438ed2c58a71d870332aaffeac3b4d5ef9d487b9cd0#eventlog) + +🔥Liquidity Burned: [https://bscscan.com/tx/0x6cba0a89c1f124070ba02666e84d8e7749bdb3f69fbba7d674e5f5b493dc5957](https://bscscan.com/tx/0x6cba0a89c1f124070ba02666e84d8e7749bdb3f69fbba7d674e5f5b493dc5957) + +💩Chart (Use V2): [https://poocoin.app/tokens/0x878ae6ceea6466d70dbc5550f0427d096c4d9cde](https://poocoin.app/tokens/0x878ae6ceea6466d70dbc5550f0427d096c4d9cde) + +🥞 PancakeSwap (V2): [https://exchange.pancakeswap.finance/#/swap?inputCurrency=0x878ae6ceea6466d70dbc5550f0427d096c4d9cde](https://exchange.pancakeswap.finance/#/swap?inputCurrency=0x878ae6ceea6466d70dbc5550f0427d096c4d9cde) + +🐋NO WHALES: [https://bscscan.com/token/0x878ae6ceea6466d70dbc5550f0427d096c4d9cde#balances](https://bscscan.com/token/0x878ae6ceea6466d70dbc5550f0427d096c4d9cde#balances) + +Telegram: [https://t.me/ChumpChangeToken](https://t.me/ChumpChangeToken) + +💰 REMEMBER, only throw in what you consider chump change! You might make some nice money, but keep the risks in mind! 💰 + + [https://www.ft.com/content/3c2c576c-51c6-4ced-b1c2-586c4b2f4914](https://www.ft.com/content/3c2c576c-51c6-4ced-b1c2-586c4b2f4914) + + +Saudi Aramco stuck by plans to pay out $75bn in dividends this year despite a 73 per cent drop in second-quarter earnings and surging debt levels, as the state energy group bets on a rebound for the pandemic-hit oil sector. +I have always enjoyed what I did for work. Ive been at the same job for about 10 years now and have made incredible friends, and acquaintances, that I see on a regular basis. Over the years with my company I have moved up into a position that has we fortunate enough to be the leader and an incredible team. + +During MOASS I understand that we will really need to keep an eye on the price action in order to go through with my own exit strategy *(With how close we are to MOASS I hope everyone have truly thought about what their strategy is going to be)*. When MOASS kicks off and we start seeing 7+ digit numbers on GME, we will need to focus on the price movement to exit correctly. + +I feel guilty not coming into work during MOASS, and since MOASS will likely take a long period of time *(A week or more)* to play out, I don’t even know how to begin to tell someone I can’t come into work. I feel bad lying about the purpose of me not showing up (I feel like faking a family death or illness is not respectful) as I am letting down a team. + +I know that it is inevitable that I will need the time off, but I just feel anxious about how to approach that when the time comes. Has anyone felt a similar way? + +Or am I just fucked up? +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! + +this has got to be the craziest part of the whole saga. here we are, approaching 74.1% DRS and the mods do what? propose a discussion about purple circle? + +what are yall evening thinking? or are you not thinking? DRS is the single most important aspect of all that is GME and superstonk. + +to even think about a discussion about what to do with purple circles is trust shaking. GROW UP MODS. BAD MOVE. + +real money is on the line and it is about time you started acting like it. +Per u/Rensole's morning news post, +"If people make agreements to take any action together this is market manipulation, and trust me, the governing bodies may not go after Citadel right now but they will come down on individuals. it's illegal, so if anyone wants to make an "agreement" on when to do something, it's permaban." + +Do your own research, make your own decisions, and be kind to one another. + +Back to my Crayola omelette. mmmmmmm...oon. +A little while back I revealed I got a life changing job with a raise I never anticipated. Well, after the dreaded 3 weeks of no check...it happened. + +So my state denied me unemployment due to my (unpaid) hours, and I went $326 negative in my account. My credit cards maxed at $315 and $3000. Been sneaking into the train to/from work all week and haven't had dinner since Sunday night, relying on lunches my work provides. + +Today I woke up with more money in my account than I've ever experienced in my 30 years of life, even after the -$326 I had to overcome first. + +I'm so blessed. I'm so thankful. And I'm so motivated to never be in this position again. Never give up on yourself. Good things can happen with hard work and a little luck (a lot in my case). + +Happy Friday y'all. It's the best one in a while. + +Edit: again I'm blown away by the love and support here. You've built a truly welcoming and supportive space here and I'm so happy I am a part of it. Thank you all. +****TL:DR: VPCBA, the Bombardier 6000 which has been present at 2 airports in France at the same time as Ken, belongs to a high profile French businessman who has in the past been charged by the FBI for fraud and junk bond schemes.**** + + +So I know there’s a lot of people who think the jet tracking is pointless and I see where you’re coming from, it doesn’t add to anything or change anything as the plan is still buy and HODL, we also don’t know if it is Kenny on the jet and all that but it’s just interesting and Keeps me and others occupied lol. A lot of apes like it and are also interested by the looks of it based on the attention my last post received so I’m going to post this as a follow up. + +I saw a post yesterday which caught my eye, it was something I was unable to find in my research, guess I wasn’t looking in the right places. + +By the looks of it, u/jetnoizes is highly interested in aviation. I mean, the username says it all really 🤣 their post, which I will link below specifies that the bombardier 6000 reg no VPCBA which was present at the airport in nice at the same time as Ken, and was also present at the airport in Paris at the same time, is owned by a Jean Francois henin. + +Please view this post before continuing + +https://www.reddit.com/r/GME/comments/pa0ifx/vpcba_ownership_information_i_need_some_wrinkle/?utm_source=share&amp;utm_medium=ios_app&amp;utm_name=iossmf + +So after I saw this, it led me down the rabbit hole, as I thought previously this jet was owned by another company called Casbah but that plane has now been de-registered. + +After doing some digging, my opinion is that this was no coincidence. Again, this is my opinion btw everybody before I get attacked in the comments lol, like I said, we don’t know who’s on Ken’s jet. This just seems extremely sus to me. + +Jean Francois henin is the founder of an oil company called Maurel &amp; Prom. On the 10th April 2017, he sold his stake in the company and has now moved on, but guess who opened short positions on Maurel &amp; Prom before and around this time? + +I mean, do I even have to say it at this point? I guess I will for the smooth brains and newcomers. Ken fucking Griffin. + +This WhaleWisdom short position filing proves it, you’ve just got to scroll down a tiny bit until you see Citadel advisors lol. + +https://whalewisdom.com/short_position/issuer/etxbe + +Now this gets even better, but before I go on, everything about this guy is in fucking French so it’s hard to find all the juicy info, I could be missing out on some vital parts. + +OH SHIT, also another thing before I continue, Jean Francois Henin is also the former chairman of credit Lyonnais. Can’t believe I forgot to mention that. Wikipedia page linked below for more context. + +https://en.wikipedia.org/wiki/Cr%C3%A9dit_Lyonnais + +And that isn’t all this guy has under his belt btw, look at his fucking resume + +https://www.gulfoilandgas.com/webpro1/prod1/person.asp?id=2636 + + +Taken from his personal Wikipedia page and translated to English: + +In May 1982, he was recruited by Alain Gomez as Treasurer of Thomson CSF (1982-90). He reorganized the group's treasury within Thomson CSF Finances, which he transformed into a true speculative bank. He foresaw the fall of the dollar in 1984 and the crash of October 1987, and earned his nickname of "Mozart of finance". + +By the sounds of it, this guy is pretty significant in the world of finance. I mean, they literally call him Mozart. + +This is where it gets really fucking spicy though. + +https://archives.fbi.gov/archives/news/pressrel/press-releases/credit-lyonnais-and-others-to-plead-guilty + +This guy got caught by the FBI for selling junk bonds disguised as good bonds through false statements. This is a classic Ken tactic and also one of the main reasons the 2008 crash was so big. + +Snippet taken from article: + +Jean‑Francois Henin was the managing director of Altus and became an advisor to Pinault and Artemis. He is charged with conspiracy to commit mail and wire fraud, mail fraud, wire fraud, conspiracy to defraud the United States and violate the Bank Holding Company Act, and criminal violation of the Bank Holding Company Act. + +The fines they paid were the largest settlement of a criminal case in US history. + +Now I’m not saying this guy is connected to Ken, but it’s ultra fucking sus that their planes were travelling together between airports in France and could possibly be the reason he is there all the time. + +Further updates will follow if I find groundbreaking connections as I’m now intrigued to dig deeper. + +#UPDATE: Part 2 brought to you by u/csmbird 👀 +https://www.reddit.com/r/Superstonk/comments/pbr8nw/tldr_odd_connection_between_aviation_paths_of_kg/?utm_source=share&amp;utm_medium=ios_app&amp;utm_name=iossmf + +#UPDATE 2: + +****I have received evidence from a source who wishes to be kept anonymous and the proof will also be kept anonymous out of respect and for the protection of said source. Guess you’ll just have to take my word for it. It is 100% Ken travelling on jet N302AK. A lot of us haven’t been able to confirm that as it could’ve been one of his assistants or someone who works for him. I now have concrete proof that Ken was in France and also met up with a quite a few people there. Just thought I’d let everybody know this to confirm your bias but by no means will I release the proof as I have gave my word to the source and will not break that promise.**** +It's way too late to be posting but I'm not seeing enough hopium this weekend and decided to deal some myself. It's time for us to touch the sky again and I'm going to explain exactly why this is reality and not just wishful thinking. + +Hedgies have T+13 settlement date from 12/17 to cover all of the FTD's they incurred on using the XRT ETF as a target for their short ladder attacks. Why? because XRT has just been added to the NYSE Threshold Securities list as of 12/17 as brought to light by u/AlexanderHood in his most recent news post. Remember how you were sitting around the last week buying the some of the fattest dips we've seen since early March thinking to yourself "How is Mayo Man affording to short it this hard? There must be some kind of consequence". This is the consequence of Kenny's actions as SHFs can only afford to make GME go so low and when they push it past their limit the fuckery that enabled this price movement usually bites them in the ass in some form inevitably. + +Let's use something you gibbons know very well: Dragonball Z. When Goku realized he was fucked against Vegeta what did he do? He used Kaioken to make himself significantly stronger temporarily but then once he was done he was left almost completely unable to fight back as the technique had ruined his body. This is Kenny right now coming down from the high as he is about to have to cover muchos FTD's ASAP or he will be straight up banned from shorting XRT and will lose one of his most important tricks he uses to hide the real short interest of GME from the chimps and orangutans. Not only is Kenny about be completely out of resources but he is also going to end up just like Goku did and will financially have his back broken by an ape who's tired of his shit. + +&#x200B; + +[Okay Kenny now its our turn.](https://preview.redd.it/xzy62312ug681.jpg?width=668&format=pjpg&auto=webp&s=48a51ea60f1544b5286c1cc819a30a2540d693f0) + +So the next question you probably have is "But Goose when will the hedgies decide to cover their FTDs and get XRT off the NYSE Threshold list?" Well don't worry, I understand that you're smooth and need to get back to eating that 64 pack of Crayola crayons so I figured it out for you. Given the timeframe of the FTDs needing to be covered by T+13 days from 12/17, this would mean that the last possible day they can cover would be 01/06. This leaves us with about three trading weeks until these Shorts on XRT get hit with the ban hammer. Kenny and the gang usually never wait until the last minute to cover their FTD's. Let's presume the covering will be sooner rather than later. I'm assuming that Kenny and company cover their position this upcoming trading week based off of the behavior they exhibited during our futures rollover runups. Remember u/Criand posting about rolls being back on the menu in mid September when Ken and company had already set the stage to bleed us dry over the upcoming month? Kenny might be a financial terrorist and a degenerate but he always makes sure Shitadel is in a good position early and never waits until the last minute to clean his mess (except for MOASS which is about to move him behind the nearest Wendy's). + +According to multiple apes who are much smarter than I (as well as JPMorgan Chase), we are expecting to see significant price movement around the tail end of January as many options purchased to create synthetic shares to cover FTDs from the January sneeze will be expiring leaving them naked and afraid. If you were the hedgies would you leave the XRT conundrum you have to cover until January or cover them next week? The price is going to run this week as they cover the shares they shorted in the XRT basket. This will come into Christmas and the following Monday. They will most likely presume shorting the absolute shit out of it until the time for the January rematch comes. If you need anymore confirmation of massive incoming green days don't forget that this last Friday Meme Lord RC himself tweeted out a poop emoji. You know why? because the hedgies are about to shit themselves. + +&#x200B; + +[Let's not forget about that sweet delta sensitivity. ](https://preview.redd.it/kcizhten2h681.jpg?width=474&format=pjpg&auto=webp&s=76f97eebbfe26f73d6e98aed699708e5b3a01f79) + +"But Goose why would the hedgies buying in really make us run up anymore than it usually does?" Well I'm going to point you to a DD u/yelyah2 recently posted about how GME's delta sensitivity is so hot right now. I don't expect you guys to actually head over and read the entire thing. This post alone is most likely the 741st DD post you've read this month so here's the TLDR for you (but please read it it's amazing). + +> **TLDR (in case you dumb dumbs didn't find it at the very top): Conditions are primed right now for a significant increase in hedgie buying power. The delta sensitivity test spike is a harbinger of change, and more often then not... significant price increases....** + +In essence, the post mentions that the delta is so sensitive right now that any amount of shares that the hedgies buy right now will essentially have a bonus multiplier effect on the price. This is just like when you're playing Guitar Hero and you need more points so you activate that sweet star power and for every note you hit you get eight times the points. Here is a visual aid that the OP made to help you Baboons comprehend what the Rock is cooking. + +[Green line means hedgies can't afford to buy without a massive price increase.](https://preview.redd.it/pmj6bt7k4h681.png?width=1421&format=png&auto=webp&s=3102a228c90815f67fd8ee3b4450a31a2c6da57e) + +This may very well lead into the last runup in price we see until the fated battle in January. Unless something else came along to put the hedgies into an even worse position, such as a pivotal announcement by Loopring. It could be that they are in cahoots with GME and want hedgie blood. + +&#x200B; + +[Even Mayonnaise can't save you now.](https://preview.redd.it/4wsg1ujn6h681.png?width=1884&format=png&auto=webp&s=f762c2001535d41b3722fab41a85bc3f4d3c304c) + +An announcement by Loopring is imminent as stated in their goals for this quarter (concluding on December 31st). This places this smack dab at the end of the second trading week hedgies who shorted XRT to oblivion will have to clean their mess. We are about to see what happens when hedgies have to cover FTDs while being exposed to abnormally high delta sensitivity and the NFT announcement we've been waiting for since July. Any kind of NFT based announcement is going to send us past Mars and on our way to tendietown and should silence naysayers who think think that Gamestop has no future in the industry. + +**TL;DR: The hedgies are very vulnerable to a price increase if their hand is forced into buying due to GME's current delta sensitivity test spike. XRT being added to the NYSE Threshold list has done just that as they now are on a T+13 timer (Jan 6th) to buy this dip or else they will be banned from shorting this particular ETF. Not only is this looking bad for them but a Loopring based announcement is imminent and due by December 31st.** + +TA;DR: KABOOM BY END OF MONTH. \*THROWS SHIT\* +*Sometimes plans go wrong.* + +In 2007, I was 22 and I lived to watch my portfolio grow. Then everything took an awkward and unexpected turn in the form of years of unemployment and underemployment, some intermittent homelessness, and naturally the loss of my entire portfolio. + +I can *finally* say that I have recovered from 2007, paid down my debt, and have saved $1000 to work with. Awkward time to come around, huh? + +This morning, after finishing third shift, I sold to open 1x GE 05/08/2020 6.00 P for $22 and then I cried. Finally, paying myself again instead of someone else. +I've noticed a few posts over the last day or so refer to GME being 'their hill to die on'. Whilst this sounds like it's positive, that we're banding together for a common cause perhaps, it also sounds like a last stand. A desperate last ditch attempt. Surrounded by enemies we fight to the last breath. + + +Bro. We are winning. We aren't going to die on a hill. We HODL and we DRS and we enjoy our lives safe in the knowledge that somewhere out in the distance, lies a hill that all of the SHFs are saying their final goodbyes. +Just breached the 50 dollars a month threshold. My dream is to hit 40k per year, but that’s a long ways down the road. + +Edit: what strategies are you taking to reach your goals? Stocks v etf’s, growth transitioning to income. Etc. +*Edit 1 : Complaint filed with the SEC.* + +[There it is.](https://preview.redd.it/5iqrb9zqh8o81.png?width=948&format=png&auto=webp&s=97027bccd47d4c35584ed9ed3464ce63b9fc5a79) + +[Let's see if this works.](https://preview.redd.it/plduz14bq7o81.png?width=1502&format=png&auto=webp&s=d4dc9a2072fcc0933295995770bd7fbbae0c58e0) + +Dear SEC and Chair Gensler, + +Today (March 18, 2022) unknown parties AGAIN took advantage of the ridiculous deem to own garbage to satisfy their FTD obligations. + +175,000 shares of GME were traded in a dark pool at the mid price against a synthetic forward option trade of 1,750 puts and 1,750 calls. **A TRADE OF 175,000 SHARES DID NOT EVEN AFFECT THE PRICE ONE CENT!** + +&#x200B; + +[Code 7v stands for derivatively priced trade \(against the options below\)](https://preview.redd.it/4rf3n96y87o81.png?width=610&format=png&auto=webp&s=ec5d53b2e68d7cec17e3caecbbc28523ebd60564) + +These shares were used to satisfy the obligation and the options contracts were closed just 5 minutes later. + +[All it takes is 5 minutes.](https://preview.redd.it/it6sgoc6a7o81.png?width=696&format=png&auto=webp&s=e29e081454b54b2d83efdf1f602972233fa105b6) + +**HOW MUCH LONGER WILL YOU ALLOW THIS NONSENSE TO CONTINUE?** + +Instead of asking retail investors for recommendations, how about you do your job? You have TEAMS AND TEAMS of lawyers and investigators working for you AND you have extensive finance and regulation background as a former Goldman Sachs executive and the chair of the CFTC. **You don't need to know what I think. You already know what the problem is. You need to do your job and fix this!** + +This is dangerous to the stock market and it is your job as the SEC to protect it. It is part of your mandate. This is not up to me, retail investors or Elon Musk on Twitter. This is your responsibility. + +[The insane movement you see on the blue and orange lines are the call delta mooning when the options were opened and the put delta crashing. Then the opposite happens when the contracts are closed. ](https://preview.redd.it/tdpqnoibb7o81.png?width=1105&format=png&auto=webp&s=c8f3865b26f25e996cf12d0a905e1b63f19fb4e0) + +All of this happened on a day when two major brokerages declared that there were no shares of GME available to be sold short. + +[Fidelity: No shares.](https://preview.redd.it/wkek4vj5c7o81.png?width=429&format=png&auto=webp&s=ec0322a79437666f39b8345c5dfbac590e427cdc) + +&#x200B; + +[IBKR : No shares.](https://preview.redd.it/j4k1xz08c7o81.png?width=500&format=png&auto=webp&s=52c0617003aab7012268b18b004334c93b38ce8e) + +If you're asking me for recommendations, if I have to tell you these things, then I might as well be the chair of the SEC. + +Honestly, I could use the salary. I need to buy a stock I like. + +&#x200B; + +Best regards, + +A Concerned Investor +**TL;DR: RC and BOD say to vote ASAP. This is not meant to create a frenzy. Just awareness. Don't be lazy and don't be passive. When you get your voting materials, read through them and vote. If you don't get notice from your broker within a couple days, then reach out to them and try to get an eta. Voting is an important part of being a shareholder.** + +# [Everything you need to know about 14A Proxy Statement & Voting](https://www.reddit.com/r/DDintoGME/comments/mxa8gy/everything_you_need_to_know_about_14a_proxy/?utm_source=share&utm_medium=web2x&context=3) + +Thank you to /u/thr0wthis4ccount4way for posting this very helpful guide for the proxy vote. It's still a work in progress but I've noticed several answers in it to many of the questions in the comments below! + +You can also [**Read up on the information to be voted on**](https://sec.report/Document/0001193125-21-126940/) **yourself. The BOD recommendations are on page 65.** + +**GameStop's Investor Materials Page:** [www.proxydocs.com/GME](https://www.proxydocs.com/GME) + +&#x200B; + +https://preview.redd.it/mjetr7561yu61.jpg?width=1089&format=pjpg&auto=webp&s=6a49f098a20ef54d13fd398aca953be77a31eb07 + +In reading through the Proxy filing, I noticed something in the letter from Dan Reed on behalf of the Board of Directors. + +RC and the rest of the board are requesting that shares be voted ASAP. This is different language than they used last year and the year before and **I THINK IT'S INTENTIONAL** ***(may not be)*** **AND IMPORTANT!!!** + +***It has since been pointed out by a commenter that there are other companies filings that include similar language and that GameStop actually has similar language in the previous filing in other places, just not in the notice letter. The change in language from previous GME filings is what caught my attention. Even if this isn't a subtle message, the point is still very valid that shareholders voting their shares is important and all who can participate, should try and do so and do so as soon as they can.*** + +[2021](https://preview.redd.it/3xofxred9uu61.jpg?width=1787&format=pjpg&auto=webp&s=341dca251754628532798eb790ccdd467e8e4465) + +[2020](https://preview.redd.it/srmer45ibuu61.jpg?width=1761&format=pjpg&auto=webp&s=7bd24ba02f7cf0393e636817e26569609916cbad) + +[2019](https://preview.redd.it/9zyrkylzauu61.png?width=1155&format=png&auto=webp&s=0f17e42d74746fda2a4381e7580b360b579d4c95) + +I believe this could be a way for them to "confirm" the reasonable suspicion and provide evidence of the naked short-selling we all know is happening. + +I have shares held though 5 different brokers and have only received the notification from 1 of them so far. I anticipate the others will be making contact, providing the resources tomorrow (otherwise, they'll be hearing from me). I have now officially voted the shares my TDA account. + +&#x200B; + +https://preview.redd.it/d89xgy0jx1v61.jpg?width=1398&format=pjpg&auto=webp&s=65bea036aeab7d16b036e8c0063da82e34a4009e + +I will be staying on top of this with my other brokers and make sure I get all of my votes in ASAP as requested by RC! + +This is not financial advice. I just happened to notice something I think other shareholders might find important! Do with this what you will. + +Edit: adding direct links to the filings referenced: [2021](https://sec.report/Document/0001193125-21-126940/); [2020](https://sec.report/Document/0001193125-20-120938/); [2019](https://sec.report/Document/0001326380-19-000087/) + +**Edit 2: Please don't harass your brokers!!!** (Unless it's RH--you need to make sure they don't send your materials to some boy in Bulgaria). **This is not meant to create a frenzy. Just awareness. Don't be lazy and don't be passive. When you get your voting materials, read through them and vote. If you don't get notice from your broker within a couple days, then reach out to them.** + +Edit 3: Still getting a lot of concerns about not getting voting info yet. It could be a couple of days. Voting period isn't even open yet. Don't worry voting won't close for another month. Point of the post and the ASAP in the filing is to do just that. Stay on top of it and do it ASAP. If you don't have voting materials within a couple days, reach out to your broker and try to get an eta. When you do get them, read them and vote. Simple. No panic necessary. + +Edit 4: Added a few links, additional details from comments, and fixed TL;DR + +Edit 5: clarified a statement that was being misunderstood and misrepresented + +Edit 6: Added [link to great voting resource](https://www.reddit.com/r/DDintoGME/comments/mxa8gy/everything_you_need_to_know_about_14a_proxy/) provided by /u/thr0wthis4ccount4way + +Edit 7: Updated with voting proof. +https://sec.report/Document/0001193125-20-236699/ + +>We have entered into an equity distribution agreement, or the equity distribution agreement, with Goldman Sachs & Co. LLC, BofA Securities, Inc., Barclays Capital Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC, SG Americas Securities, LLC, Wells Fargo Securities, LLC and BNP Paribas Securities Corp., as our sales agents, under which we may offer and sell from time to time our common stock having an aggregate offering price of up to $5,000,000,000. The sales agents may act as agents on our behalf or purchase shares of our common stock as principal. + +>Our common stock is traded on the Nasdaq Global Select Market under the symbol “TSLA.” The last reported sale price of our common stock on August 31, 2020, as reported on the Nasdaq Global Select Market, was $498.32 per share. + +>Sales, if any, of common stock under the equity distribution agreement may be made in ordinary brokers’ transactions, to or through a market maker, on or through the Nasdaq Global Select Market or any other market venue where the securities may be traded, in the over-the-counter market, in privately negotiated transactions, in block trades, in transactions that are deemed to be “at the market offerings” as defined in Rule 415 under the Securities Act or through a combination of any such methods of sale. The sales agents may also sell our common stock by any other method permitted by law. +We will designate the maximum amount of common stock to be sold through the sales agents on a daily basis or otherwise as we and the sales agents agree and the minimum price per share at which such common stock may be sold. Subject to the terms and conditions of the equity distribution agreement, the sales agents will use their reasonable efforts consistent with their normal sales and trading practices to sell on our behalf all of the designated shares of common stock. We may instruct the sales agents not to sell any common stock if the sales cannot be effected at or above the price designated by us in any such instruction. We or any sales agent, with respect to itself only, may suspend the offering of our common stock by notifying the other party. + +>We will pay each sales agent a commission of up to 0.5% of the gross sales price per share of common stock sold through such agent under the equity distribution agreement. We have also agreed to reimburse the sales agents for certain of their expenses. In connection with the sale of the shares of common stock on our behalf, each of the sales agents may be deemed to be an “underwriter” within the meaning of the Securities Act of 1933, as amended, or the Securities Act, and the compensation paid to each of the sales agents may be deemed to be underwriting commissions or discounts. See “Plan of Distribution.” + +>Settlement of any sales of common stock will occur on the second business day following the date on which such sales were made (or such earlier day as is industry practice for regular-way +trading). + +>There is no arrangement for funds to be received in an escrow, trust or similar arrangement. Sales of our common stock as contemplated in this prospectus supplement will be settled through the facilities of The Depository Trust Company or by such other means as we and the sales agents may agree. +This is personal but I could use your perspectives to help me determine my goals. + +1. What is your FIRE number? (Primary house excluded) + +2. What's the average net monthly salary in your country? + +3. Do you get pension? How does that work & how much will it pay? + +4. What's the value of your primary house? +[https://www.marketwatch.com/story/china-to-slash-tariffs-on-us-auto-imports-to-15-2018-12-11?link=sfmw\_tw](https://www.marketwatch.com/story/china-to-slash-tariffs-on-us-auto-imports-to-15-2018-12-11?link=sfmw_tw) +What is GameFi? + +From an article on Coindesk: + +GameFi is one of the hottest new trends to emerge from the crypto industry, combining decentralized finance ([DeFi](https://www.coindesk.com/tech/2020/09/18/what-is-defi/)) and non-fungible tokens ([NFTs](https://www.coindesk.com/tech/2021/02/01/what-are-nfts-and-how-do-they-work/)) with [blockchain-based online games](https://www.coindesk.com/business/2021/08/06/binance-smart-chain-beats-ethereum-by-some-metrics-thanks-to-latest-gamefi-craze/). + +Unlike many traditional online games, which operate on a “pay-to-win” model and allow players to purchase upgrades in order to gain an advantage over others, GameFi introduces a “[play-to-earn](https://www.coindesk.com/markets/2021/07/29/a-play-to-earn-account-beats-a-bank-account/)” model. This concept involves giving players financial incentives to play and progress through games. In some cases, this has allowed gamers to earn a [full-time income](https://www.coindesk.com/business/2021/05/11/for-filipinos-axie-infinity-is-more-than-a-crypto-game/) by doing so. + +GameFi has already gained significant traction, with the collective market capitalization of top games breaking [$14 billion.](https://coinmarketcap.com/view/gaming/) But key opinion leaders in the crypto industry believe there’s a lot more ahead for this new sector, with Tron founder Justin Sun recently [stating](https://www.coindesk.com/markets/2021/08/10/tron-foundation-launches-300m-fund-to-invest-in-gamefi-projects/) he believes this new sector will be key to increasing cryptocurrency adoption. + +***”GameFi is going to be the next big thing that makes the DeFi, NFT and the larger crypto space easy to understand and be involved in.”*** + +Crypto startups and gaming companies are already racing to capitalize on this explosive trend..... + +\---> Read the whole article here: [https://www.coindesk.com/learn/gamefi-how-to-earn-crypto-playing-games-online/](https://www.coindesk.com/learn/gamefi-how-to-earn-crypto-playing-games-online/) + +**I think this all fits completely to Gamestop's latest job offerings.** + +From another article(financialexpress): + +In essence, crypto games are video games that run on a cryptocurrency network and include a completely or partially distributed ledger architecture, providing players verifiable ownership over the virtual products contained in the games. As a result, players can trade virtual products for cryptocurrency, which can be traded for real money. + +All this while, it was only developers of the game or the games studios who made profits from the virtual coins that were sold to the gamers or users because these assets had only vanity value to them. This meant that almost everything you could buy in a game (e.g., skin, armor, upgrades, etc.) had only a limited value, despite users spending real money to purchase them. + +But with the emergence of crypto games, the status quo is now evolving. While regular games have fundamentally been about entertainment, crypto games bring forward entertainment with the added advantage of earning real money while playing. Every time a player buys an asset, they indirectly increase the value of the game economy. Axie Infinity, CropBytes and Gods Unchained are few of the most popular crypto games that allow players to earn money by using virtual products to achieve in-game objectives. + +\[...\] + +With crypto games rising in popularity, so has the NFT gaming sector. In the first quarter of 2021, crypto gaming experienced an upgrade in the form of NFT games, which transitioned from Play to Earn games to collectible games based on the Pay to Earn principle. Trends have always propelled the gaming industry, and the latest trend in NFTs is no exception. While it is no secret that the NFT market has grown to become a billion dollar market, without a doubt, games are one of the best-suited use cases of NFTs. Much of the NFT industry is now focused on gaming, which has enormous potential for providing gamers with unique in-game item collection options. + +Although the terms crypto gaming and NFT gaming are frequently used interchangeably, there is a significant difference between the two. While crypto gaming focuses on using crypto coins to transact with other players, native tokens are utilized to generate or gather NFTs in NFT gaming. Through NFT gaming, any assets in the game like utility, armor, land, or any asset, can become NFT and can easily be owned, transferred, and sold on the blockchain. The NFT gaming platform also gives gamers access to NFT markets to buy and sell one-of-a-kind NFTs. Axie Infinity is a popular NFT-based online video game that is currently the most expensive NFTs collection, with more than $42 million in sales in June 2021. + +Furthermore, a new type of blockchain gaming that combines decentralized finance (DeFi) features with gaming is also gaining traction, this is also known as GameFi. MOBOX, a BSC-based game, is one such game that blends NFT collectibles with yield farming and other DeFi services. We should see a lot of supporting products around GameFi (Game Finance) which give crypto games new dimensions. For example players can collateralized their game assets to take loans or simply borrow an asset for in game activity to yield more assets. There are many creative ways to earn. + +Although most games are currently designed around NFTs in the crypto space, FTs are also gaining popularity. Unlike non-fungible tokens, fungible tokens can be replicated and exchanged with the same value for one another. + +\--> Source: [https://www.financialexpress.com/money/how-crypto-gaming-gamefi-is-emerging-as-the-new-way-to-make-money/2326958/](https://www.financialexpress.com/money/how-crypto-gaming-gamefi-is-emerging-as-the-new-way-to-make-money/2326958/) + +"**There are also entire gaming platforms being built, such as** [**MOBOX**](https://mobox.io/)**, which allows people to create their own interoperable games and NFTs. It also integrates DeFi elements like** [**liquidity pools and staking**](https://www.coindesk.com/tech/2021/08/20/what-is-an-automated-market-maker/) **where gamers can generate an income from their assets which can be used to purchase upgrades or generate keys to unlock chests containing new NFTs.**" + +Gamestop + Loopring = Entire GameFi platform + +\---> "Power to the players" <---- +Apes, this is going to be an extremely quick post. I'm sorry that it won't include anything super funny or anything too in-depth but this is extremely important and I had to get it out now. + +I am currently constructing a DD and would've put this message in that DD but this was too urgent and too important to wait (I will be posting that DD this weekend). Ok, so as many of you know, GME is currently fucking the shorts. You've probably noticed that my FTD cycle prediction model was correct again (every 35 calendar days or 21ish trading days). Though I fully believe that yesterday's price action was from the FTD cycle, today's price action got me thinking (and erect). Normally, we do not see a huge rise on the day after the FTD cycle day like we did today. So, what I'm thinking it either a. they threw in the towel or got margin called (.1% chance that's the case cuz it would've rocketed up), or b. they are trying to make a little frenzy right now so apes sell before earnings and the annual meeting. IMO they might be trying to get the price up a little so apes either take their money now or so they can do another one of those monster short attacks like we saw in March. + +I believe that they might be doing this because the annual meeting is likely to have a SHIT TON of good news (that nft shit is the first one and they haven't even confirmed it). My next DD talks, in part, about how GME is consolidating to earnings and that if there is a good announcement on earnings, which is likely, the squeeze could start. SO PLEASE REMEMBER, that even though the price is excellent today it could be the result of manipulation to try to get apes out before the real show starts. The dawn of war is upon us, retards. Be prepared for some fucked up shit. As always.... stay motherfucking strong, apes. + +Edit: anyone else think it's hilarious how much financial media is downplaying this? Really? It almost $100 in two days on no news and retail buying alone? I love how they won't even consider manipulation. + +THIS IS NOT FINANCIAL ADVICE, I AM NOT A FINANCIAL ADVISOR, I AM A FUCKING PRIMATE. +Background: I graduated University in 2017, a 2:2 in Music Management, which I soon found rather useless. While I have dreams to make use of this still, as I am a musician and make a few pennies worth from Spotify etc, I work around 30+ at Nando’s to support myself, make savings and reinvest into my music. As of last year, I’ve had to start paying rent. + +I live with my mother, brother and sister. + +The situation: +1- The house rent is a total of £1700 per month. The utilities are about £240 per month, Council tax another £230 approximately. This is a total of £2170. My mother’s only income is benefits of £1450, so my brother and I cover the rest. + +2- We had to move out of a house in June 2020 because we owed too much rent and bills. My mother didn’t tell us until it was far too late but by the time we moved out we owed 7 or 8 months in rent, around £9000. My brother and I did our best to cover the rent in that house as well, but we found out when we were owing around £6000, it was never going to work really. Now we pay about £140 per month towards what we owe for that rent. (It’ll take years before that’s paid off, I don’t know where that’s at). My brother and I cover this as well. We also covered deposits etc. + +3- In a bid to try to cover some costs, my mother took out an overdraft and is now having to pay that back, even though her income is exhausted on the rent so brother and I cover this as well. We also pay her phone bills and whatever other miscellaneous bills she has coming out of her account. That costs us around £100 monthly. Just to speed this up a bit, my brother and I cover groceries, and the like as well. Financially, we’re exhausted, though I’ve still managed to save up to around £1000 until now. + +4- Recently, my grandfather, my mother’s father, died. Seeing as my mother doesn’t have any money, she asked my brother and I to cover these costs as well, which we obviously didn’t want to do but it had to be done so we did it. My grandfather, grandmother and Aunt and her family live in another country, she’s had to go to bury him and sort out all those kinds of things. My brother and I obviously had to cover these costs which came out of my savings, so I’m now down to £300, at great pain and anger. + +She’s recently left me with a list of figures and what needs to be in her account and when etc which is how I know all these figures. Before we were blindly paying around £600 monthly (£550 for rent, and around £50 for food and other needs), while my brother pays around £550 monthly (£400 for rent, £75 for internet and house line and around £75 for food and other needs). We didn’t know that the situation was this bad until yesterday and she’ll be away for the next 3 months. + +I’ve tried to budget as best I can, to the point that we break even in terms of income and expenditure but this obviously can’t continue. With the lightest pressure, everything will collapse, and that feels like it could be anything at this point. I also must work overtime obviously (which is how I got to where I was at with my savings) and set any investments for myself to the side for now if this is going to work. + +I have told my mother repeatedly to get a job, anything, because the strain is too much on us. She was only employed for a few months ago via an agency when she worked for a school. Those few months disrupted what she was getting for the benefits and she’s had to make repayments which my brother and I cover also. She’s an accountant by trade but has not found anything for so long that she has now started her own accounting firm as of December 2020. + +Please, any advice or help you have for me to consider is greatly appreciated. What would you do in this situation? My sister is 16, at school and about to take her GCSEs with these weird COVID changes. + +Edit: As I’m sure you can imagine, I’m currently at work and will continue to be as much as I can. Thank you for all the advice so far, I will take out time to read and respond as soon as I can. +The odds of Russia making its foreign debt payments are diminishing as bond prices fall, recession in the nation looms and various payment restrictions pile up after the invasion of Ukraine, according to Morgan Stanley & Co. + +“We see a default as the most likely scenario,” Simon Waever, the firm’s global head of emerging-market sovereign credit strategy, wrote in a Monday note. “In case of default, it is unlikely to be like a normal one, with Venezuela instead perhaps the most relevant comparison.” + +The default may come as soon as April 15, which will mark the end of a 30-day grace period on coupon payments the Russian government owes on dollar bonds due in 2023 and 2043, he said. + +source: https://www.bloomberg.com/news/articles/2022-03-07/morgan-stanley-sees-russia-set-for-venezuela-style-debt-default +So the new LUNA just dropped and surprisingly price is already crashing, as we speak LUNA v2 is trading at $6.10 from a high of $17. + +This was kind of expected as people who lost money on the previous LUNA are trying to recoup some of their losses through the airdrop, so expect more volatility in the coming hours. + +Do Kwon is already celebrating the launch of his new project on Twitter but who knows how long this one will take to collapse like the previous two. + +What i can tell you is to avoid FOMOing into his new scam project and let the market decide his fate again, this guy deserves to be humiliated again for his excessive hubris. +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). +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) +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) +>**Key Points** +> +>**Jamie Dimon’s message to the management team of $3.4 trillion banking goliath JPMorgan Chase: Be frightened of fintech rivals.** +> +>**“Absolutely we should be scared s---less about that,” Dimon told analysts.** +> +>**Dimon said he sent his deputies a list of global competitors, and that PayPal, Square, Stripe, Ant Financial as well as Amazon, Apple and Google were names the bank needs to keep an eye on.** +> +>[JPMorgan Chase](https://www.cnbc.com/quotes/?symbol=JPM) CEO [Jamie Dimon](https://www.cnbc.com/id/10000222) has watched while a new breed of fintech players, led by [PayPal](https://www.cnbc.com/quotes/?symbol=PYPL), [Square](https://www.cnbc.com/quotes/?symbol=SQ) and tech giants around the world have exponentially grown users and market value. +> +>His message to the management team of his $3.4 trillion banking goliath: Be frightened. +> +>“Absolutely, we should be scared s---less about that,” Dimon said Friday in a conference call with analysts. “We have plenty of resources, a lot of very smart people. We’ve just got to get quicker, better, faster. ... As you look at what we’ve done, you’d say we’ve done a good job, but the other people have done a good job, too.” +> +>Dimon’s blunt assessment was in response to questions from analysts including Mike Mayo of Wells Fargo who pointed out that with [rich, tech-like valuations](https://www.cnbc.com/2020/09/04/disruptors-paypal-and-square-surpass-wall-street-giants-including-goldman-sachs-in-market-cap.html), fintech players have “trounced” the traditional banks in recent years. +> +>Dimon said he sent his deputies a list of global competitors, and that PayPal, Square, Stripe, Ant Financial as well as U.S. tech giants including [Amazon](https://www.cnbc.com/quotes/?symbol=AMZN), Apple and [Google](https://www.cnbc.com/quotes/?symbol=GOOGL) were names the bank needs to keep an eye on. The rivals are also clients of JPMorgan’s commercial and investment banking in many cases, he added. +> +>Competition will be particularly tight in the world of payments, he said: “I expect to see very, very tough, brutal competition in the next 10 years,” Dimon said. “I expect to win, so help me God.” +> +>Dimon added that in some cases, the new players were “examples of unfair competition” that the bank would do something about eventually. He included players that take advantage of richer debit-card revenue for small banks and firms Dimon accused of not taking precautions against money laundering. +> +>He specifically called out Plaid, the payments start-up whose acquisition by Visa recently collapsed, saying “people who improperly use data that’s been given to them, like Plaid.” +> +>Plaid CEO Zach Perret declined to directly respond to the accusation during an [interview](https://www.cnbc.com/video/2021/01/15/plaid-ceo-on-how-its-5-point-3-billion-deal-with-visa-fell-through.html) with CNBC’s David Faber, adding that Plaid is spending time with the bank on a partnership. +> +>When contacted for further comment, a Plaid spokeswoman said the company is “focused on ensuring people have access to their own financial information so they can securely share it with permission in order to use the fintech apps they choose.” +> +>She added that “data privacy and security are core to everything we do, including the data exchange agreements we have with JPMorgan Chase among many other banks.” + +[Original CNBC article](https://www.cnbc.com/2021/01/15/jamie-dimon-says-jpmorgan-chase-should-absolutely-be-scared-s-less-about-fintech-threat.html) +So for over a year now, I have been preaching the good word of GME to anyone who would listen. For the most part, it has fallen on deaf ears. But today I had someone asking me about the Pulte situation, and immediately after that, he asked me about how I DRSed my shares. Even if it's just 1 guy that I work with, even if he has just 1 share (he may have more, I didn't wanna ask and be rude) then that seems like proof to me, that the movement is growing. + +Really proud of all you apes. + +Obligatory 🚀 💎 ✋️ 🌙!!! + +Edit: got a notification about 45 minutes ago that the post had over 1000 upvotes, and I was like, "wow". Then I clicked and it has less than 500. I'm assuming reddit notifies you of the amount of upvotes, regardless of downvotes. Just a weird thing I thought was worth mentioning, I wonder why so many people downvoted. Hopefully I didn't offend anyone. + +Edit 2: and now it's autocorrected over 1800. Wtf is going on? +Another 40 year old noob here. Apart from Teachers Retirement System and Social Security I don’t have anything in savings or invested. I’ve now saved a little more than 6 months gross salary for my emergency fund, foolishly sitting in a checking account. + +The most common advice I’m finding is to move it to a money market account, obviously with a high interest rate and little to no fees. Maybe an online only service. I haven’t begun to shop the best options. Suggestions appreciated. My coworker suggested CIT and I’ve heard of Ally and Synchrony but haven’t gotten too far researching this yet. + +As for investment I think Roth IRA makes sense for me. Too many questions to ask here but one pressing question I have is: what is most advantageous between maxing 2021 or taking advantage of the extended deadline and contributing to 2020 even if that might mean neither year gets the max contribution? Is that added year worth something? +Short history: when I was young and stupid, I co-signed a bunch of student loans for my then fiancé. We split and she refuses to pay. I didn’t pay for a few months, but it started tanking my credit and hers, so I caved. I now pay the minimum payment every month. + +She has never paid a dime. She still lives at home and doesn’t work, so she doesn’t care about her credit. I’ve paid around $12,000 and still owe almost $20,000. + +Question 1: Do I have any grounds to sue her for anything? If I do, does it really matter if she doesn’t have income? + +Question 2: Should I start paying these down more aggressively? The interest rates range from 4.375 to 5.25. I have a mortgage and an IRA, so I’m not sure if I should put more money towards these or her loans. Obviously I’m paying my mortgage, but I could pay it off quicker. + +Thank you! + +Edit: I lived in PA when these loans were signed. +https://www.cnbc.com/2019/05/25/the-stock-market-would-be-much-lower-if-it-werent-for-companies-buying-back-their-own-shares.html + +Data compiled by Ned Davis Research shows the S&P 500 would be 19% lower between 2011 and the first quarter of 2019 without buybacks. + +The other options for companies to deal with that cash — holding it, reinvestments and dividends — would have also led to lower returns. + +“Without focusing too much on numbers, we can say that the S&P 500 index would probably be lower today if not for buybacks versus other uses of cash,” says Ed Clissold, chief U.S. strategist at Ned Davis Research. +I pulled the FIRE trigger today and gave notice that my last day will be June 5, the day before the twentieth anniversary of my high school graduation. I had to call my supervisor and notify her since we rarely see each other. She wasn’t shocked, as I had briefly mentioned a few months prior that I was financially independent. She asked if there was anything that she could have done differently – there was not. She asked if I was retiring or if I had something else lined up. I just said that I was not submitting an official reason, but we could meet up if she wanted to hear a long list of personal reasons that I drafted. She didn’t seem at all interested. I wasn’t exactly a model or valuable employee. I wasn’t thanked for my twelve years of service, or for the fact that I never missed a day of work. Five minutes prior to the phone call, my wife finally admitted that she was glad I was quitting. This was something I already knew, but was always sidestepped and avoided upon questioning. This had to be my decision. And it was. + +I previously posted my story about my FI journey, but here’s a quick summation since there will inevitably be questions. I have been with my wife since 1998. We got married in 2007 and have been single-income for 90% of the time with no kids. I graduated high school in 1997, college in 2001, and pharmacy school in 2005. I entered the workforce on August 15, 2005 in a tough retail pharmacist career that I cared nothing about. Realizing before I ever began that I didn’t want to do this for the rest of my life, I resolved to spend at a level that matched the standard of living from my youth so that I could retire before turning 40. I didn’t even know that FIRE was a popular thing 18 months ago! + +My salary plus benefits started at about 115k/yr and ended at around 150k/yr. My spending started at around 30k/yr in 2005 and ended at around 38k/yr in 2017. I estimate that my average savings rate was 70% for nearly twelve years. I was fortunate to have some scholarships, as well as parents who supported me. The current bull market has also been of enormous benefit. I made a lot of good decisions and a few bad ones. From 2005-2011, I maximized 401(k) and IRA contributions every year while the balance went to paying off real estate. Our house, land, and personal property were fully paid off for around $250k and have since appreciated to $400k. The 401(k) and IRA contributions were a mix of VSCIX (small cap) and VFIAX (S&P 500) but were moved entirely into VSCIX near the bottom of the market in 2011. + +Once the house was paid off, and after the 401(k) and IRA contributions were made each year, leftover funds from 2012-2017 went into a mix of VFWAX (international stocks) and VWLUX (US municipal bonds) in a private Vanguard account. My future AA will be 60% VTSAX (total US stock market) / 20% VFWAX (total international stock market) / 20% VWLUX (US municipal bonds) or perhaps 40/40/20 (I have yet to decide). My current spending of 38k/yr will drop back to 30k/yr as a direct consequence of retiring (3k less on health care from some tenuous ACA subsidies, 1k less on flexible vacation spending, 3k less on eating out, 1k less on fuel consumption, 1k less on homeowners insurance, and 1k more on entertainment). + +Once everything is settled, investments will total approximately 1.03M for a SWR of 2.9% (a drop to 1.9% if wife keeps her part-time hobby employment, a rise to 3.4% if she quits and the ACA subsidies disappear) but I might opt for a 3.0% SWR so that I can increase withdrawals from 30k/yr to 31k/yr. All of this works out to about 620k across retirement accounts entirely in VTSAX with 410k in private accounts as a mix of VWLUX and VFWAX, in addition to personal property worth 400k for a total net worth of 1.403M. + +Although I stand to get 10k/yr from SSI, perhaps 500k in inheritances, supplemental income at some point, and a not-too-far-fetched possibility of national healthcare or UBI, I don’t assume these. As far as life after retirement, I have many hobbies, interests, and goals to pursue, so I won’t be bored. Returning to some compensating endeavor far into the future is also likely. Finally, I want to thank this subreddit for having so many members willing to offer input, encouragements, and criticisms that helped me out tremendously in the past few months. +Hi All, + +This is my first post here. So I would like to apologize in advance for any stupid remark/question I might do. + +I've started recently investing in ETFs as I don't know much about security analysis, so I didn't want to put money on something I don't understand. But, I also found it quite boring... which I accept and understand. In parallel, I started reading more about stock picking and value investing and I would like to eventually start putting some money (max. 5% of my portfolio) on individual stocks. + +Now, I've been also reading about intrinsic value and how to calculate it and I would like to start practicing it and potentially find some undervalued stocks. But... where do I start? There are so many companies out there that it becomes overwhelming. How do you create a sort of shortlist to start analyzing some of the companies? What do you look for? + +Thanks in advance! +This is not Financial Advice! + +You might’ve seen several posts explaining why keeping your coins in a wallet is the best way to hodl. This is true, if you have a significant amounts of a particular coin because then you will be able to cover the expenses of transfer fees which vary from coin to coin. + +But with the rise of newcomers, not everyone can afford to buy large numbers of coins. And while you might be tempted to take your coins off an exchange, think about the amount you will spend for fees. For example the average fees for moving out ETH is 0.02 ETH (~$35) sometimes this is the amount most people have. Similar example can be applied to other coins as well. + +Another point is that exchanges are not un-secure anymore. They will store coins with high security measures. And you should enable things like 2FA to keep your account even more secure. So don’t worry about your coins being in danger. + +If someone has any other suggestions please let us know. + +Edit: Tips from comments: + +1. From u/ACShreds - Gemini offers 10 free withdrawals per month so if you do want to withdraw coins, try buying from that platform although the fees are a little high compared to other platforms. + +2. From u/thegooddocgonzo - Although exchanges aren’t fully safe, many big and reputable one like Coinbase and Binance will do everything to keep your coins safe because they don’t want any bad reputation. The user also notes that Binance was hacked in 2019 and Binance made sure that no customer was impacted. Stay cautious of smaller and unknown exchanges. + +Edit 2: The withdrawal fee which I stated for ETH (0.02) was for the exchange I primarily use which is WazirX. I’m sorry for not mentioning the said exchange and for those asking where I got that figure here is your answer. +Already on the first day after stealth launching, the NanoETH's first dAPP is now live on [https://nanoethbsc.app/](https://nanoethbsc.app/), following hot on the heels of early **CoinGecko** and **CoinMarketCap** applications for the most spooky and friendly ETH rewards token on the Binance Smart Chain + +**The ETH lover at the controls: Dashboard features** + +\- Live Stats for Price, Volume, mcap, Total Rewards payouts +\- Live charting of ETH, BNB and (upcoming in v2) NETH + +\- Reward Tracker: Rewards Received + Hourly, Daily, Weekly, and Monthly Projections + \+ List of Payouts with verification link +\+List of Latest Payouts (all holders) with verification link + +The mastermind behind the dashboard expressed a will to *"create a tool that can help investors make good decisions about their investment. The challenge for me was to be able to deliver it fast while making sure that it meets the standards set by the NanoETH team. In crypto we see how fast teams can launch tokens, but often the quality is not there. Working with the NanoETH team has inspired me to push my standards higher, because it's clear to me that quality is what they stand for."* + +**NanoETH - the friendly rewards ghost with big aims** + +Sitting at an extremely attractive **sub 50k mcap**, the innovative protocol has already awarded holders upwards of 5 ETH (15k usd), basically free money give the recent news about ETH 2.0 upgrades following EIP1559. The robustness of the protocol is reflected in the **"Low Risk" rating provided by Safe Solidity** contract validation scan score of 85%. Audits are also upcoming to reassure any fan of both Ethereum and the BSC blockchains of the stability and security of their future investment. Bscscan information is submitted and will be updated, so dextools trending is on the menu in the near future... + +An airdrop competition is upcoming aiming to reward the strong community of "nanoraiders" that has assembled around BSC's no 1 ETH rewards token, converging with a push using Poocoin ads and other marketing outreach - confirming that the 25+ team with strong 10 member core is committed to bringing this token to great heights also in the long run. + +Check the clean website for updates additional features and upcoming roadmap goals at [https://www.nanoethbsc.com/](https://www.nanoethbsc.com/) \- the team is always present in the main TG and ready to answer questions and to link up for networking. + +**TOKENOMICS AND DETAILS:** + +\- Initial Liquidity: 3 BNB + +\- Total supply: 1 Trillion + +\- LP lock: 6 months (see website for confirming link) + +\-💎 7% ETH reward | 📣 5% Marketing | 🔐 3% LP - Focus is on sustainability! + +\- Team/Dev wallet: None (The entire team is putting their own money and ambition into this project!) + +\- Minimum amount of tokens to receive automatic rewards: No minimum, the more you hold the more reward you will receive, the size of which will depend on trading volume. + +\- Slippage on buys: 15% + +Maximum buy of Max is 0.2% of total supply per tx. Since half of the supply was burned, this equates to 0.4% of circulating supply. Note, however, that there's no max sell, as everyone should be able to take out their investments whenever needed - period! Ghost says so. + +**IN THE CRYSTAL BALL FOR NANOETH BSC** + +Marketing pushes will continue to contain some surprises, aside from the serious job of building a serious base for the projecting that's accessible and welcoming for all. Among further landmarks we have the special secret "NANOGHOST" feature coming and exploration of the potentials for farming, NFT platforms and gaming. Certik audit is also on the roadmap. More will be announced - so stay tuned! +It's okay to be hyped up and excited about tomorrow. It could be a fun day for those long on GME. So hype it, meme out, do whatever you like. + +&#x200B; + +It's okay to be anxious to get those official DRS numbers (ending Jan 31, 2022). It's okay to want to see a run up if the news is good. I'm not selling on a little run up. I guess a few folks with options are praying to the gods, but those of us long? Not an issue. Not going to sell tomorrow no matter what happens, good or bad. But if you think they will magically short it to infinity due to a bad report, we can only hope! Because then it really will be the best day ever. If they can pull a fucking rabbit out of their hats and actually short this fucking stock more (just holding shares for the last month trying to be first in line to run it down on earnings - 100% utilization) due to a bad earnings, that dip will put millions of new shares in investors pockets. Are they going to beat it down to the 60s? They will never understand. A lot of us have 1 goal, LOCK THE FUCKING FLOAT THROUGH DRS. Unlike last time when none of us even knew about DRS and we had no idea what ladder shorting was, or if the price would go to zero because we didn't understand market caps and a companies fundamental value, some people held, but a lot of people were shook off the stock as it hit $40 a share. This time? Oh boy. THIS TIME? This is suicide for the hedge funds if they do that. We aren't going to wake up one day and give up. We've been dragged down from $250 to $75 in 3 months. We don't care. Drag us down $70 more so we can lock the float instantly at 5 dollars. + +&#x200B; + +These guys really fucked up if they think we're scared of being shorted anymore. I'd rather go to fucking $20 a share than $220 again and hang out for a fucking year. Because I'm not selling at $220 again/again/and again. But I will put the house on $20 a share. The only thing I am anxious to see is what they do when we lock the float and they have all these fucking synthetic shares floating around like, "oh shit... we done fucked up shorting GameStop for the last 5 years thinking we wouldn't have to pay back a penny!" + +&#x200B; + +To all the new apes that bought in at 75-85, congrats for getting your moon tickets so fucking cheap. But buckle up. Be excited for tomorrow, but if things go down, just know this, these longs that have been holding for a year, are waiting for a dip to lock this fucking thing up. Cheap price, 1 catalyst, shares DRSed, instant moon. Part of the catalyst will be having these shares so cheap that EVERYONE wants at least one. When it gets to the point millions of people can spend a hundo and get 2 shares for the fuck of it? That's more of a problem than 100 people buying 1000s of shares. For one, THEY WILL HOLD. Because who the fuck sells 2 shares? + +&#x200B; + +&#x200B; + +TL/DR: Don't worry about hyping up an earnings report this time. It's DIFFERENT this time. The price is different. We've been beat down all year and don't care. We're good. We're zen. They've now shorted themselves into a fucking corner. We can ENJOY this earnings report and know, up or down, we're fucking ready. +Currently I have Blue Cross Blue Shield through ACA if that's what the insurance on HealthCare.gov falls under. I was making $14,000 a year when I applied for it last year, and my monthly payment was $16.00 with a $750.00 deductible. I'm a student who just moved back home so I can hurry and finish school, so I had to leave my previous job and am now driving for Uber on the weekends. I will be making about $5,760 a year. When I went to apply for insurance again for next year, the lowest priced plan is $280 a month with a $7,350 deductible. That's an increase of $264 a month from my previous plan and a $6,600 increase in my deductible. All the while I'm making $8,240 less a year. After filling out my application, I also received an eligibility notice email from HealthCare.gov stating.... + +> Based on the information provided, you would be eligible for free or low cost health care through Georgia Medicaid. However, the state of Georgia has chosen not to offer you this health coverage at this time. You won't owe a fee for not having health coverage. This is because of your income, and because the state of Georgia declined to expand Georgia Medicaid to cover individuals in your situation. + +I just don't know what to do. Did I fill out the paperwork wrong? Am I basically screwed in terms of health insurance for next year? +Hey everyone, I saw a really good post yesterday about UK clean energy stocks that haven't taken off yet. HERE - [https://www.reddit.com/r/UKInvesting/comments/kmbq30/uk\_clean\_energyesg\_stocks\_that\_havent\_exploded\_yet/?utm\_medium=android\_app&utm\_source=share](https://www.reddit.com/r/UKInvesting/comments/kmbq30/uk_clean_energyesg_stocks_that_havent_exploded_yet/?utm_medium=android_app&utm_source=share) + +There was however one company that were not in the main write up, but did feature in the comments - Active Energy Group. I've been analysing them for several weeks now and currently hold 84,000 shares for full disclosure. The price at time of posting is £0.0095 per share (makes that 84k holding seem instantly less impressive!). + +**Executive Summary** + +What do AEG do? AEG is a renewable energy company focused on traditional and second-generation biomass products which have the potential to transform the traditional coal fired-power industry. In addition, AEG is developing a complementary forestry management business. AEG has developed proprietary technology that produces CoalSwitch™ a product with unique characteristics that make it commercial valuable for multiple industrial and domestic applications. Under the direction of an experienced international management team, AEG is well positioned to grow into a leader in the global Biomass renewable energy industry through the commercialisation of CoalSwitch™ and its ancillary products. + +Market Cap: £14.8m + +Share Price: £0.0095 + +Available to buy on: Trading 212/AJ Bell + +**Management Team** + +It won't be any surprise to say they aren't household names like Elon Musk or Jeff Bezos - however, they do appear to have good pedigree and two notes I take from this is that firstly in all videos/audio content they are very much on top of their business and affairs. I've seen some investor packs recently with no Financial data, I'd rather know about it... even if its bad. Second point to note is the team are the right size for growth now and stabilisation. Can check the board out here and their respective credentials - [https://www.aegplc.com/about-active-energy/board-management/](https://www.aegplc.com/about-active-energy/board-management/) + +**Small Cap soft checks** + +I always like to check whether small caps are doing the basics right - have they got a website and more importantly is it professional - Yes. All documents up to date? Yes. Are they clear on what their product offering is, thus enabling potential customers to understand prior to a more formal inquiry... Yes. I'd like to see a few other things on there such an video content to understand the products more but I do like the Coalswitch comparison sheet and gives good context on why its of benefit to any potential buyer. + +**Pros** + +Recently had an order received from PacifiCorp to trial the Coalswitch product - [https://www.asktraders.com/analysis/active-energy-aeg-share-price-jumps-after-first-coalswitch-order/](https://www.asktraders.com/analysis/active-energy-aeg-share-price-jumps-after-first-coalswitch-order/) + +This order is the second order raised by the PacifiCorp org - this one is directly on PC and there was a prior order some years ago by a subsidiary of PC. Maybe back for round 2/might have faith in the product development. + +Insider buying shares in the past 9 months (c.£22k). This shows the people inside the business have a positive view on where it is heading. + +Debt - there is a level of debt and whilst many would probably believe this is negative, I actually like a company to have some debt as it shows they are trying to grow and as long as they use a debt facility constructively its generally positive. However, in this case I like the debt because it means its time for AEG to start performing - push the sales contracts and drive revenue. + +Patents for UK and US - US granted December 10th, 2020. [https://www.bioenergy-news.com/news/active-energy-awarded-new-us-patent-for-coalswitch-process/](https://www.bioenergy-news.com/news/active-energy-awarded-new-us-patent-for-coalswitch-process/) + +**Cons** + +They've been around a while and on the face of it, you could be forgiven for questioning why they haven't done more with the time they've had so far. I personally do get a little concerned by the fact Coalswitch has been around about 4 years and the business has gone from 70 employees down to 14. Hardly booming - however, this could be down to a change in strategy and automation. They claim its because they've been focussing on developing their proprietary operations. + +Revenue is spiky and doesn't appear consistent - could easily change with the introduction of a new order from a major player though. This is a risk with 99% of small caps though. + +Has previously been share dilution and as with any growing company, could happen again. Personally I've factored 2 dilutions into my assessment so I don't get disappointed. + +**AOB** + +Everything they do is orientated to the US market, sites in the US, AGM in the US - investor presentation is in $ and not £. Makes me wonder if they are aiming to get bought out by an American company. Highly speculative though. + +Michael Rowan that was disbarred is not the AEG Michael Rowan. + +**As always - DYOR, don't trust anyone on Reddit but just wanted to share what could be a good opportunity** + +&#x200B; + +Interested to know others views on AEG - any pros and cons... always good to have a rounded view on an investment. +"I FINALLY paid off $8 of credit card debt in 2 years while making $95k!" + +"My Grandfather, the CEO of a prestigious candy bar company, left me 250k after he died! Should I visit all 490 countries or start a boutique pickle company?" + +I'm exaggerating here, but growing up poor, some of the headlines on personalfinance have screamed "First world problems!" at times, and helped to reinforce the kind of uncertainty and anxiety I had as a Poor. I couldn't help but think that being secure in my own life was a pipe dream. + +As a foreword, I wanted to write to this post as a sort of tribute to r/pf (and r/frugal) because of all the invaluable information I've learned from it over the past few years, and how I've applied those lessons to my own life. But I also wanted to write this for those people who, like me, happened to be born poor, isolated, or desperate to escape your circumstances. + +A bit about me: I was raised by a single mother in a working class neighborhood in a large American city. She, my sister, and I lived for many years on a meager social security check we received each month because my father died young, and my sister had Down's Syndrome. + +Finances eased after my mom remarried (to a factory worker), until working class wages stalled in the late 90's and completely cratered around 2008. I received no financial education as a child--I had to google how to write a check at 22 because no one ever thought to tell me. I was also imbued with a healthy distrust of authority. + +Like many of you, I was considered a Child of Promise. It was a foregone conclusion that I would attend college. I was the shining star of the neighborhood, after all, and it was a powerful statement that I was bettering myself. As a first generation college student, coming from a working class school, no one questioned my major (writing), or my school choice (a private art school). I was 17 years old, unwittingly signing up for $80,000 of student loans. + +I was academically prepared for college, sure, but socially I was completely out of my element. Is this story starting to sound familiar? I know now that I'm not alone, not by a long shot. + +I didn't understand the value of making connections. I couldn't take that life changing internship because I worked part-time at my stepfather's factory. I graduated in 2011, right around the most stagnant labor market in 30 years. Saddled with debt and uncertainty, I did what many do: + +I didn't pay my loans, I wandered aimlessly, I battled anxiety like a full-time job. It wasn't until several years later, a move across the country (and back) that I started to get my life together. Thanks, in no small part to this sub and others that stressed financial planning, accountability, and discipline. + +But what nagged me was that while many people here posted about building something that lasts, I and millions of others were simply working towards that ever elusive 0: no debts, no masters. In fact, I still am. + +What follows is an incomplete list of things I've learned as someone born under the line, that they never taught us in school. That they never taught us at home. That I hope will help you + +1) **No one is coming** - It took a long time to let this one fully sink in. There will be no salvation. I don't mean this in a fatalistic way, just as a matter of fact. No one will pull you from poverty or desperation. Those lottery numbers aren't coming in. Your lady whose house you clean isn't leaving her money to you. The world is indifferent to your suffering. + +I found this freeing: It is solely up to you. + +2) **Adapt** Outside of maybe 6 fields, most jobs and careers are teachable to anybody with an 8th grade education. In a sea of equally qualified candidates, you will only stand out as a personality fit. This was a hard pill to swallow as a young person. I lacked social skills, and leaned heavily on my immaculate resume. What an employer really wants is a "3am guy." Someone who they don't want to murder on a late night, when the deadline's coming. Someone they can depend on, joke with. + + +Put yourself out there + +3) **You're not the only fuckup** I let my student loans default in my early 20's because I was literally too afraid to pick up the phone. When you're born poor, your standing is all you have, and the feeling of failure can be immense, unbearable. But you're not the only person struggling. These companies know the system is held afloat by a few top earners and the rest of us paying what we can when we can. Make the call, get your shit straightened out. You'll find them willing to help 9 times out of 10. + +4) **Lie** I assume this will be the most controversial point. I have lied on every resume I've ever written. I've lied in every interview I've ever taken. You will not get ahead over someone who has the time and means to perfect themselves. It simply will not happen. Lie, be charming, confident. Lie like your livelihood depends on it. It does. But know that you are now accountable to your lies. Be able to back them up with results. You will not get ahead by luck. The odds say you're not getting ahead at all. + +5) **You have more skills than you realize.** Poor people have a fear of failure ingrained into their psyche because the stakes are real, and many become bitter of people for whom failure is just a minor setback. But failure, true failure, is the greatest learning experience in the world. No rich kid has ever had to come up with $200 by rent day, keep the lights on, find a way to get to work or, pay for a funeral on a line cook's wage. These are the skills to run a business, to run a family, to run your life. You are hungry, and you are sharp. No one can take that away from you. + +6) **Don't become bitter.** This is the most important part. The world, despite how it sometimes feels, is amoral. Love. Grow. Hope. But be prepared. + + +I'd just like to thank the good contributors here over the years for all their help over the years. To all my fellow poors, you're not alone. + +Feel free to add more in the comments! + + +Edit 6/3/17 - I just wanted to say thank you to everyone that's seen this post, and thanks to the countless people who have sent me such kind messages, and for the reddit gold as well. As a writer, it's immensely gratifying to know that one person has actually read your work, let alone 90,000 and counting. + + + + +March 31, 2022 Update: [https://www.reddit.com/r/Superstonk/comments/ttfhe2/update\_on\_institutional\_ownership\_etfs\_and\_funds/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/Superstonk/comments/ttfhe2/update_on_institutional_ownership_etfs_and_funds/?utm_source=share&utm_medium=web2x&context=3) + +February 14, 2022 Update: [https://www.reddit.com/r/Superstonk/comments/ssrmfk/institutional\_ownership\_increased\_from\_39\_to\_45/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/Superstonk/comments/ssrmfk/institutional_ownership_increased_from_39_to_45/?utm_source=share&utm_medium=web2x&context=3) + +January 22, 2022 Update: [https://www.reddit.com/r/Superstonk/comments/sb20kk/nobodys\_selling\_update\_on\_institutional\_ownership/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/Superstonk/comments/sb20kk/nobodys_selling_update_on_institutional_ownership/?utm_source=share&utm_medium=web2x&context=3) + +&#x200B; + +**Start of this post:** + +**TA;DR** According to Bloomberg, institutions have sold off \~4M shares since my last post (18 days ago). Institutional Ownership is now reported at 46.2% (35M) of outstanding shares or 40.73% (26M) of float. Venture capital firms like RC Ventures are considered IO, but are also considered insider shares or "stagnant" shares; hence, the difference of 9M. In other words, **Institutional Ownership is down to 26M**. **Out of the 26M, approximately 15.2M are currently "locked" up in ETFs (6.65M) and Mutual Funds, Index Funds and Pension Funds (8.59M)**. Presumably, shares in ETFs, mutual funds, index funds and pension funds will need to be maintained to a certain degree going forward. All data used in this post is from 11/6/21. + +Please note that the 15.2M shares reported above is significantly lower than what I reported last time (23.5M), but that was an error on my part. I accidentally included MF-AGG (mutual fund aggregates = subtotals) in my last count, which inflated the numbers. I sincerely apologize. + +This post is is an update to: [https://www.reddit.com/r/Superstonk/comments/qci4nn/gamestop\_float\_institutional\_ownership\_etfs\_and/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/Superstonk/comments/qci4nn/gamestop_float_institutional_ownership_etfs_and/?utm_source=share&utm_medium=web2x&context=3) + +&#x200B; + +[Stagnant Shares = Insiders](https://preview.redd.it/8p6rtnz8u9y71.jpg?width=1091&format=pjpg&auto=webp&s=7fde06bf082d9638ade9d186fba7015dd7108ff9) + +[Not sure why Matt Furlong is not reported in Bloomberg](https://preview.redd.it/gu7h9hp1v9y71.png?width=358&format=png&auto=webp&s=f82f57b890455400f4a840d56df1225bf87bc846) + +&#x200B; + +[Current IO 40.73&#37; of Float = 26M shares](https://preview.redd.it/vpq1lhiot9y71.jpg?width=520&format=pjpg&auto=webp&s=793cf351458a097e895cf1ecba52a1550b0a2628) + +&#x200B; + +[6.65M Shares tied up in ETFs](https://preview.redd.it/03o15sesx9y71.jpg?width=1540&format=pjpg&auto=webp&s=0a0d8a993eb462f4e2818fcd3bd1998bea59ab7e) + +There are 125 exchange traded funds (ETFs) that include a total of 6,648,347 shares of GME. + +&#x200B; + +[8.59M GME shares in Mutual Funds, Index Funds and Pension Funds](https://preview.redd.it/848bwrvvx9y71.jpg?width=1676&format=pjpg&auto=webp&s=e592176cece0ae662bbbc62a487087ed1c6a929e) + +There are 340 mutual funds, index funds and pension funds that hold a total of 8,586,392 GME shares. + +As I mentioned in my last post, Institutional Ownership has decreased significantly from May 2021 when it was over 100%. In fact, IO was over 100% for more than ten years before it dropped like a rock in May 2021. Institutional Ownership is now reported at 46.2% (35M) of outstanding shares or 40.73% (26M) of float. + +[IO of GME \(&#37;\) for past 6 months](https://preview.redd.it/flvtompyz9y71.jpg?width=1020&format=pjpg&auto=webp&s=dbdaa14dde39ae26e9975c93f01b2ff0fe4449f9) + +[IO of GME \(&#37;\) for past 10 years](https://preview.redd.it/4irlepy30ay71.jpg?width=1018&format=pjpg&auto=webp&s=a75976d7cd5068c87695d46a2c68fecf267b0374) + +&#x200B; + +**TA;DR** According to Bloomberg, institutions have sold off \~4M shares since my last post (18 days ago). Institutional Ownership is now reported at 46.2% (35M) of outstanding shares or 40.73% (26M) of float. Venture capital firms like RC Ventures are considered IO, but are also considered insider shares or "stagnant" shares; hence, the difference of 9M. In other words, **Institutional Ownership is down to 26M**. **Out of the 26M, approximately 15.2M are currently "locked" up in ETFs (6.65M) and Mutual Funds, Index Funds and Pension Funds (8.59M)**. Presumably, shares in ETFs, mutual funds, index funds and pension funds will need to be maintained to a certain degree going forward. + +This is an update from my last post: [https://www.reddit.com/r/Superstonk/comments/qci4nn/gamestop\_float\_institutional\_ownership\_etfs\_and/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/Superstonk/comments/qci4nn/gamestop_float_institutional_ownership_etfs_and/?utm_source=share&utm_medium=web2x&context=3) +The Gorilla Diamond Token ($GDT) team is developing an ecosystem built to generate PASSIVE INCOME for holders! Each platform they develop will create revenue through transaction fees and 10% of ALL REVENUE will be distributed to holders through a transaction-reflection system. $GDT will be supported by real technological foundations. Here is a list of revenue-generating projects they are currently working on: + +\- Diamond Service Market (peer-to-peer service-based crypto marketplace) + +\- Swiftly Swap (crypto swapping website) + +\- Rising Tokens (crypto listing website) + +\- Diamond Wallet (mobile application to BUY and HOLD crypto, including $GDT) + +$GDT is also supported by a LEGITIMATE Canadian company: Gorilla Diamond Incorporated. They are registered on both Provincial and Federal levels. Their corporation number is [1290262-1](https://www.ic.gc.ca/app/scr/cc/CorporationsCanada/fdrlCrpDtls.html?corpId=12902621&V\_TOKEN=null&crpNm=&crpNmbr=1290262-1&bsNmbr=). You can already find the CEO's name and address on their official corporation page, but the rest of the team is DOXXED as well. They have already had 10 LIVE AMAs on their Twitch! + +$GDT has been fully audited by [TechRate](https://github.com/TechRate/Smart-Contract-Audits/blob/main/GorillaDiamond%20Full%20Smart%20Contract%20Security%20Audit.pdf). They passed with flying colors! Whitepaper and road map available on their website. + +You are able to buy $GDT on directly on Gorilla Diamond's website with their [custom V1 PancakeSwap API](https://www.gorilladiamond.com/swap/). $GDT is available on 3 centralized exchanges as well: CoinTiger, Probit, and Lbank! The team also announced that they are now searching for an exchange that supports $GDT's tokenomics. + +There is an 11% fee on every $GDT buy/sell: + +\- 6% reflected to holders + +\- 2.5% sent to burn wallet + +\- 2.5% added to PancakeSwap LP + +The Ape Army is currently just over 23,000 holders and $20m market cap, join us before we really go to the moon! + +Website: [https://gorilladiamond.com/](https://gorilladiamond.com/) + +Contract: [https://bscscan.com/token/0xb7F2bca9b034f8cc143339Dd12bb31D3D50Cf27a](https://bscscan.com/token/0xb7F2bca9b034f8cc143339Dd12bb31D3D50Cf27a) + +Telegram: [https://t.me/gorilladiamond](https://t.me/gorilladiamond) + +Discord: [https://discord.gg/gorilladiamond](https://discord.gg/gorilladiamond) + +Twitter: [https://twitter.com/GorillaDiamondT](https://twitter.com/GorillaDiamondT) + +Twitch: [https://www.twitch.tv/gorilladiamondinc](https://www.twitch.tv/gorilladiamondinc) + +YouTube: [https://www.youtube.com/c/GorillaDiamond](https://www.youtube.com/c/GorillaDiamond) + +Reddit: [https://www.reddit.com/r/GorillaDiamondInc/](https://www.reddit.com/r/GorillaDiamondInc/) +So a lot of pundits have gone on about the TSX being the worst-performing develop market and I'm starting to think they're right. Here are the TSX TOTAL RETURNS for the last few years. + +2015: -8.32% +2016:+21.08% +2017:+9.10% +2018 (YTD): -2.69% + +This is pretty sad, and a huge divergence from US markets since the Trump election. Without dividends, returns have been basically zero since the 2008 peak. It seems like the only companies creating consistent value have been the oligopolies (Banks, Telecoms, Railroads) and a very few growth stars (DOL, CSU, weedstocks). + +My question is what is your strategy for Canadian equities moving forward and whether you have any general thoughts about our market as a whole. + +EDIT: YTD performance is up to last Friday, so I'm not even including the drops for the last two days. +Roughly the same allocation: + +88% SWRD (US + developed markets) + +12% EIMI (emerging markets) + +vs + +60.33% VTI (US) + +27.67% VEA (developed markets) + +12.00% VWO (emerging markets) + +&#x200B; + +Backtest of SWRD + EIMI [https://backtest.curvo.eu/portfolio/spdr-eimi--NoIgygCgIgSgBAajgUQJIFlUgDTFK5ABkICEAxATUIHEAVARgBYdCA6ADnYF1cQDiSAaXSNqALQBsElq3oAmLoqA](https://backtest.curvo.eu/portfolio/spdr-eimi--NoIgygCgIgSgBAajgUQJIFlUgDTFK5ABkICEAxATUIHEAVARgBYdCA6ADnYF1cQDiSAaXSNqALQBsElq3oAmLoqA) (no rebelancing) shows: + + 14.56% Jan 2009 - Dec 2021 - projected data, funds didn't exist this time + + 18.27% Jan 2019 - Dec 2021 - real data (2022 is not available in [backtest.curvo.eu](https://backtest.curvo.eu/portfolio/spdr-eimi--NoIgygCgIgSgBAajgUQJIFlUgDTFK5ABkICEAxATUIHEAVARgBYdCA6ADnYF1cQDiSAaXSNqALQBsElq3oAmLoqA)) + +vs + +Backtest of VTI + VEA + VWO on [https://www.portfoliovisualizer.com/backtest-portfolio](https://www.portfoliovisualizer.com/backtest-portfolio) (no rebelancing) + + 13.64% Jan 2009 - Dec 2021 - real data + + 21.28% Jan 2019 - Dec 2021 - real data + +&#x200B; + +By projected data looks like acc portfolio is better in a long run, though I'm not sure [backtest.curvo.eu](https://backtest.curvo.eu/portfolio/spdr-eimi--NoIgygCgIgSgBAajgUQJIFlUgDTFK5ABkICEAxATUIHEAVARgBYdCA6ADnYF1cQDiSAaXSNqALQBsElq3oAmLoqA) works good enough. + +I have free choice to choose any portfolio above, I'm not EU citizen and ask it here, because you guys are for sure more acknowledged about accumulating ETFs than other investor subreddits. +https://www.cnbc.com/2019/04/18/a-controversial-part-of-robinhoods-business-tripled-in-sales-thanks-to-high-frequency-trading-firms.html + + +>Robinhood’s co-founder and CEO Vlad Tenev defended the practice in a blog post. + +>Tenev said like its broker-dealer peers, the start-up “participates in rebate programs which help customers get additional price improvement for their orders by creating competition amongst the exchanges and liquidity providers who fill the orders, often resulting in superior execution quality.” + +>“We send your orders to the market maker that’s most likely to give you the best execution quality,” Tenev said a blog post. The company also said it does not take rebates into consideration. “All market makers with whom we work have the same rebate rate.” +I called Fidelity a few months ago and asked why my acct was down 5%+ and they told me my investment mix was not set correctly for someone who is 42 and only been saving for 5 years. They changed my mix and now I am down 15% for the year. I realize the economy is trash but has everyone else seen the same type of decrease or are they making poor choices for my investment mix? I contribute 8% and company matches 6% I am single and recent home owner and make about 55k in a relatively low COL area if that matters. Any advice is helpful. +tl;dr: When normal people hear about the crash of cryptocurrency market this time, they are going to remember last time it crashed, and now it's 10x more than it was the last time they heard about it, and this time they are going to buy. + +No fancy TA here. But rather a market psychology post. This is my 3rd crypto bubble. History tends to repeat itself, but I find that there are always a few things that are a bit different than you'd expect. And if you can figure out those differences it can sometimes give you an advantage when investing. + +I think the biggest difference between now and the last big mainstream crypto bubble is that the general public has seen this before. And I think they remember that the last time they heard about a crypto bubble the prices are now much higher. (I consider if main stream when it hits CNBC or FOX news, something big like that, and this time we hit both) + +It takes a few times hearing about cryptocurrency before you can wrap your head around it and convince yourself that it's here to stay. But once you do that it makes sense to put a little bit of your money into the market. The biggest thing people are afraid of is a Ponzi scheme that runs off with your money. Yes, there are plenty of those in crypto. But when people look at BTC (which is what they are going to look at) they are going to see that it's still there, and it's price has gone up. And when they read the news they will see big companies moving into this space. And rational people saying it makes sense to invest here. And most importantly, they will see credible companies behind a lot of this tech indicating that this is a real technology movement - and NOT a Ponzi. And that will make them feel more confident about the whole market. + +I predict that through the course of this correction you are going to see bargain hunters, and those who were interested in getting in a position, start to buy a bit of ETH. And that's going to prevent this from being a crushing 18 month downturn. And turn this into a shorter several month downturn. Let me go out on a limb here and say 3-6 months correction. If the cryptocurrency market cap is below 80 billion (today's price) in 6 months, then I'm wrong. + +There is plenty of innovation around the corner on the Big Chains. BTC has segwit. Whether you are pro or against, this is a software update that means things are changing. And Ethereum has Metropolis. The two biggest coins with the most marketcap will continue to grow and expand their technical abilities during this downturn. + +Most of these ICOs will bust. But I think a larger percentage of these are honest operators than most believe. Basically, the scammers didn't have enough time to launch really bad schemes yet. Nothing I've seen is as bad as the DAO from last year. And nothing has raised a protocol threatening amount of money. Bancors $150 million is a lot. It's probably too much. But it's *NOT protocol threatening in a 80+ billion dollar market. + +Yes, there are a few shit coins (not going to name names here). But there are also a few strong teams that are out to change the world. These teams are not going to run with the money. They are going to invest it in building out the ecosystem. We are going to have identity on the blockchain - or at least a few good attempts at getting it right - we will have advertising tokens, and we'll have more decentralized exchanges. And they are going to be making announcements during the correction over the next few months because the space is moving so fast. + +That's why I'm bullish. And that's why I'm holding. To each his own. I hope this post has been helpful for your own trading strategy. + +edit1: forget a *NOT +Hey, I'm really hoping some experts in here are able to explain/tell me if I'm being scammed. + +I'm a guy and I've been speaking with a girl from another country for about 3 months now. I would say its more than a friendship. + +Anyway, very early on in our conversations she brought up crypto mining and said that I should do it, and she would show me how. +I did some research and thought there's no way I can crypto mine, 1: I'm not clever enough and 2: I haven't even got a computer,  let alone super computer power. + +She then got me to download a digital wallet app and another app where I will transfer my crypto too. We are 'mining' USTD, which is a stable coin. +However,  I'm sure it's not crypto mining, she's basically give me a hyperlink to use on the DApps (Decentralized apps) which takes me through to a mining pool where I can claim anywhere from 1-6% interest daily (depending on my wallet balance) + +So I started off putting 100 USDT to see if it would work,  and it sure did. I was receiving 1.5% everyday, but that's hardly nothing. After 3 weeks I put 1000 USDT in and was reaping a 3% interest everyday. + +Fast forward a couple months,  obviously I have been speaking to this girl everyday and the trust levels are building. Last week, I deposited another 8300 USDT to boost it to 10,000. That way i get 3.5% of that everyday. She tells me she has over 100,000 deposited which means she gets 4.5% daily,  she makes 4500 USDT in one day... + +I've made 2,300 USTD in the last 6 days, since I increased my balance to 10,000. But it all seems way too good to be true?? Surely no one can make this much money a day, for literally doing nothing. + +This girl I'm speaking to now wants me to deposit even more to take advantage of even higher interest rates,  and it's making me suspicious. Could she literally take my money through the 3rd party DApp? + +I've already deposited money to my bank twice before and have been successful, so withdrawing the cash isn't an issue. + +I done some research on 'Coin Staking' and this sounds a lot similar to what I'm actually doing.  With coin staking, your essentially donating your crypto assets to contribute to the blockchain, and you get rewarded each time a transaction gets validated. + +I'm really hoping someone can help shed some light on what I'm actually involved in. I'm happy to answer any questions. + +Thanks so much! + + +EDIT: +---------------------------------------------------------------------------------- +**+2H after OP** + +Yeah, I totally realise what a naive fool I've been. But thanks to the ones that have expressed hope/optimism/advice. +She's now telling me there is a promotional deadline of the 20th March to boost my balance to 30,000 USDT or I can't claim a 2888 USDT reward. It's good i lied to her and said I had more money. + +I'm keeping up the cute chats with her and she said she's going to phone me again tomorrow before the deadline, she's even telling me she's coming to the UK in April, lol. + +I'm obviously 1000% attempting to pull everything tomorrow. + +If the app doesn't let me withdraw or throws hurdles in my way, I'll go to her for help. (I did this last time as the app likes to throw obstacles in the way when it comes to withdrawing) She seems to know the app like the back of her hand. I'll tell her I want to withdraw all the money with the promise of putting 50K in there afterwards. If she just tells me to deposit, I'll say i want to get more familiar with the withdrawing/depositing process. +If I can withdraw, I'm taking the £2,800 profit and will tell her I'll only deposit more once she comes to the UK and see's me next month. See what she says😂 + +Anyway, I'm sleeping. I'm a nervous wreck. Will update tomorrow. + +EDIT 2 +---------------------------------------------------------------------------------- +**2D after OP** + +Sorry for the delayed update, the weirdest thing happened, which I'll get to in a second. + +Firstly, this is definitely a scam, I've been so naive to not realise. What I have fell victim to is something called the 'Pig-butchering scam' .. honestly, look it up. A sophisticated scam, run by Chinese crime gangs, involving of romance and cryptocurrency. Some of the reddit comments said it involved the Chinese mafia, which is why I hid the post.. +Apparently, the scam has been exhausted in Asia, and they are now targeting Europe and the USA. +I think I'll leave this post up as an awareness thing, not that much of you would be as stupid as I have. It was the romantic gateway that really got me hooked into this, I got absolutely played. I read about one guy who invested 1.6m then lost it, poor soul. + +Anyway, the weird thing...The night I wrote this post, someone's comment lead me to an article that explained there were 2 BitKeep apps (the app I was making a profit from), a real one and a fake one. I had a look and I 100% had the real app. + +But when I woke up the next morning, I wondered if they saw my reddit post, because I realised that my app had mysterious changed to the fake one I saw on the article the night before. The layout is now sightly different and the logo has changed, but my balance is still in there. +I read that this fake app can store your your mnemonic information or transfer password when you type it in, so now im really reluctant to try withdraw. I honestly think if I had tried to withdraw when I had the 'real' app on the night I wrote this, I could have successfully withdrawn some, like I had times before. + +The person I'm speaking to is happy to 'walk me through' the withdrawing process before I 'promise' to deposit more, which raises my suspicious that the app is now malicious. I don't think they have any idea i know. +I'm not even sure if they can get access to my wallet until I use the app to deposit/withdraw, now it's changed to the fake one and they can now store my info?? +BitKeep said the best way to get the real app is to be directed straight from their website to the app store, but when I do that now, it only brings up the fake one (which has a white logo and a purple background, the real app has a blue logo with a white backround) + +I'm wondering if there is a way to restore the app to the original, I'm not sure if deleting it will work. My heart sunk when I woke up and saw the fake app, I then realised that I had been too late. But for now, it sure looks like my money is gone or at least locked into the app. + +I'm still playing oblivious and maintaining communication with this person. If I can figure out a legitimate way to withdraw my money, and lure them in with the promise of depositing 5x more, I could be in with a shot. +But, that's probably me just being naive, again. + +EDIT 3 +---------------------------------------------------------------------------------- +**+4D after OP** + +OH MY ACTUAL GOD, I HAVE ALL MY ORIGINAL MONEY + £1,700 BACK INTO MY BANK !! + +So after being sketchy over opening the app the past 3/4 days, I finally tried to withdraw tonight. And it all went through really smoothly... +I don't think the app did change to a fake one, I think the app coincentally updated, I checked through a friends phone and his was the same as mine (Now a purple logo). + +I have been keeping up my act with her, told her I wanted to withdraw the money I had in there, then deposit 20,000. She helped me through the depositing process (I said I wanted to learn the wholee process before investing in it longer term) andd, It's all gone through....I actually can't believe it. I've just sold 12,300 USDT to a merchant, the money is now in my bank. + +I really don't know how to slowly 'cut off' this person I'm speaking to. To avoid depositing the 20,000 tonight, I said a family emergency came up. I've also told 'her' I have a 50K loan coming so this would buy me time. + +I really have no idea why it has allowed me to withdraw with it being a scam, there were no big gas fees or nothing. Maybe they just let me thinking they are getting 5x the investment? + +Either way, I feel so relieved and thankful to have got my money back, I must be of a small minority that have done. I will 100% learn from this, I'm really counting my lucky stars. + +The only other thing......Since I wrote this post, another 2,100 USDT has accumulated within the 'mining pool' I was in + +Do I take it? I mean, I already have a profit and kinda know who I'm fucking with so probably not. + +But if this is a mining pool, full of people who have fell victim to the same scam as me, who are not receiving interest, just a top up of everyone else's money in the pool. Do I just withdraw it? Instead of it going back to the scammers? + +EDIT 4 +---------------------------------------------------------------------------------- + +I tried to withdraw the 2,100 USDT interest from the mining pool, to the dodgy app wallet, and it never appeared. + +The scams over. + +And I just beat it 😁 + + +I'm 59 and spouse is 62, no kids, no debt, 3.2 million in the bank, house is paid off and somewhere in the 600k range in terms of equity.Not exactly big time fatFIRE+++ but I'm posting this more as a reality check and because I am at my spouse's annual work retreat where everyone is now hearing about retirement...so it's REAL. We aren't necessarily retiring "early" but had planned on maybe 3-5 more years of work, but professional frustrations (categorized under "being over it") as well as some unexpected personal losses (friends and family passing at what seems to be an early age) just made us realize that it's time. We are not unprepared - we have done countless budgets, are both well educated and understand financial forecasting, and have put our financial advisor through the paces multiple times. + +I'm now at that scary (for me) point if giving notice to my employer. But as I type this, I am on a balcony overlooking the Pacific, as opposed to my work cubicle (which looks out at a parking lot and a couple dumpsters). + +What am I worried about? Our biggest expense is going to be health insurance (no surprise there) and obviously without LTC coverage that's a huge risk. An overall financial downturn would hit our investments. And these are the "known knowns". I am trying to educate myself by reading a book on Thriving in Retirement as a Couple which is well written and talks about the psychological and social and physical aspects...because I think for us, we spent all our time wondering if the financial stability was there. + +I just want to thank this reddit community for insight and support over the last couple years as I have gotten my thoughts (and finances) in order. + +Thanks for listening to my TED talk +Yes this rule did get delayed until June 21st (https://www.sec.gov/rules/sro/nscc.htm#SR-NSCC-2021-002) BUT this does not mean that the MOASS will not happen until then. + +Volume is so low right now that any even slightly bullish announcement from GameStop could ignite this thing. Possible announcements/catalysts from GameStop; CEO announcement, more votes than float, merger, acquisition, crypto dividend just to name a few. + +My opinion is that Cohen was waiting to see if they would approve these rules before the shareholder meeting but since 002 was pushed back until June 21st he may take matters into his own hands. Remember, GameStop specifically stated in their SEC filings that a short squeeze is very likely to happen due to excessive short selling and if this does happen GameStop is not at fault. Cohen is the man with a plan. + +Do not let this delay worry you at all. It would help the moass start but is not necessary. + +Edit: Many comments are saying it is delayed until June 21st at the latest but can be accepted before then. +Hi I'm a high school student who lives in Istanbul, Turkey. I'm really interested in economics and that's why I want to study economics at university. Even though it's quite early for me to ask this (since I'm still in high school) but what are the jobs I can do in the future after studying econ? + +I know that economics is a broad subject but I just wanted to hear the options and what skills can be beneficial for me to know from a young age. I'm 17 btw + +Thank you. +**Question: Would the massive 2 trillion+ bailout in US cause high inflation?** + +&#x200B; + +Using the Keynesian theory, a policy that increases the amount of money circulating in the economy would have a multiplier effect, the size of which depending on the reserve rate (and other variables). + +Under this theory, the current bailout program would increase the amount of money in circulation by something times 2 trillion dollars. + +Common sense would show that the injection of all those money would cause *at least some* price level increase. + +But also of Keynesian theory, an increase in demand would have a rather small effect on price if the aggregate output isn't at its potential. + +&#x200B; + +Therefore - and correct me if I'm wrong - the amount of inflation caused by the bailout would depend on the state of aggregate output (and the percentage of consumption that is imported). + +And right now, the economy isn't running at optimal level at all. So may we conclude that the bailout wouldn't cause an inflation that would be significantly higher than the 2 percent something we currently have each year? +Edit: Also, some people are saying that she made GDP go up, but quality of life go down. Is this true? Is GDP a reasonably good proxy indicator for quality of life more generally? What other such indicators are there? +I listened to a podcast with Marohn and he makes some pretty bold claims. Hopefully, this isn't a straw man, but, to summarize: + +1) To be sustainable, suburbs must generate revenues in excess of costs. + +2) The cost structure of suburbs typically is subsidized upfront (e.g. federal government pays for the initial infrastructure) with long term liabilities/ cash outlays for the maintenance of said infrastructure. + +3) The nature of the timing of the cash flows of this arrangement can trick us into believing that revenues are in excess of costs, but in most cases they are not. + +4) From a historical perspective, he sees suburbs as a very new and radical experiment, and he notes that as a way of opening the door to the conclusion of his hypothesis: that in the medium term many (most?) suburbs will be bankrupted and likely abandoned. + +5) He goes so far as to claim the resemblance to a Ponzi scheme, nothing that without inflated property values generating inflated tax revenue via artificial scarcity, many suburbs would already be financially insolvent. + +I come from a background in accounting and finance. I understand in detail the difficulty of estimating long term liabilities related to infrastructure maintenance. However, some googling didn't really provide much more than anecdotal evidence to support his case. + +Finally, even if he is right that suburbs are financially unsound, bankruptcy doesn't necessarily follow. First, we may find that people really truly value suburban living and are willing to pay the premiums necessary to sustain it. In other words, you can't claim that expenses are greater than revenue if you don't know what people are willing to pay. Second, if the problem of unsustainable suburbs was created by initial infrastructure stimulus via the federal government, there is reason to believe that that unsustainability could be maintained via federal bailout. + +... + +If anyone can point me to some literature or a kind summary, I would be grateful. + +Thanks in advance, + +Edit: to include some sources. + https://www.volts.wtf/p/volts-podcast-charles-marohn-on-unsustainable#details + +He opens right at the top of the above podcast, start at the 3:00 minute mark. +**\*\*\*\*\*\*\*\*\*\*Not a financial advisor. Not financial advice\*\*\*\*\*\*\*\*\*\*** + +Greetings, Apes. Today I was contemplating whether to cut my hair into a mohawk or to get a bald fade. Obviously, those are very similar. Today, I decided to listen to Linkin Park's smash hit, "WAP," which always gets me going. I was definitely feeling a little high cuz I had just consumed THREE, yes THREE, fig newtons when I got a message from another primate. I was hoping that he was going to tell me about a new flavor of pringles that I could try, but instead, he pointed out something important about the FTD cycle that I might've missed. His name is u/precocious_kid if you're wondering. So, perhaps in my WD40-filled voyage in my shed, I missed this important paragraph in Regulation SHO: + +"Rule 204 provides an extended period of time to close out certain failures to deliver. Specifically, if a failure to deliver position results from the sale of a security that a person is deemed to own and that such person intends to deliver as soon as all restrictions on delivery have been removed, the firm has up to 35 calendar days following the trade date to close out the failure to deliver position by purchasing securities of like kind and quantity. Such additional time is warranted and does not undermine the goal of reducing failures to deliver because these are sales of owned securities that cannot be delivered by the settlement date due solely to processing delays outside the seller’s or broker-dealer’s control. Moreover, delivery is required to be made on such sales as soon as all restrictions on delivery have been removed and situations where a person is deemed to own a security are limited to those specified in Rule 200 of Regulation SHO. A common example of a deemed to own security that cannot be delivered by the settlement date is a security subject to the resale restrictions of Rule 144 under the Securities Act of 1933." + +See that? 35 CALENDAR DAYS. Not trading days. 35 calendar days is exactly 5 weeks (5 weeks and 1 day because T+35). 5 weeks has up to 25 trading days (weeks with holidays would be less), which might help explain why the cycle seems to be anywhere from 19-22 trading days (it says "up to 35 calendar days" so this is a maximum so they could cover before then). ALSO, and maybe even more important, notice that it says "these are sales of owned securities that cannot be delivered by settlement date." How do they get around owning them? Synthetic longs (ITM calls). So, it makes sense why the price spikes every 35 days (you will see that below) because they don't actually own the shares, they just own calls that make it look like they own the shares. Then, when the 35 days come, they actually have to buy the shares, which causes the spike. + +Well, with this information, I had to take a look. So, I immediately started blasting Coldpay and Katy Perry songs, got FOUR fig newtons (I know, dangerous), sat in my race car bed, turned on my limited edition "your favorite Dino" Barney and Friends mega big boy lamp, and got to work. + +https://preview.redd.it/7hekhuhezbw61.png?width=480&format=png&auto=webp&s=9b9b0714c98a768160c957600c2df356270066d4 + +What I found, dear apes, was pretty sick. The first thing I did was try to connect the original squeeze with T+35, here's what I got: + +https://preview.redd.it/872h1c9nrbw61.png?width=1304&format=png&auto=webp&s=236d3a9ac98968e2a8ed234219e97d7c2aae6d4e + +Again, this is T+35 calendar days, not trading days. Remember the 35 day period is a maximum, so they can cover before that! + +But what about when GME doubled in late February because the CFO was ousted (again, I still don't buy this as the reason it doubled because that makes zero sense)? Can T+35 explain that? + +https://preview.redd.it/jkwvy9gosbw61.png?width=1314&format=png&auto=webp&s=efbff74687e4f9c54b644adff7aa0364546e7503 + +The answer is yes. Even the volumes add up. Now, you might be thinking that some of the days that correspond to the T+35 are green, so they don't count for being a day that the stock was shorted; however, though the days are green, there was still short activity as the price fluctuated greatly in these days. Though buyers won on those days, there was still a fair amount of short pressure. + +But wait, are there any more? + +https://preview.redd.it/4ad6ns8atbw61.png?width=1306&format=png&auto=webp&s=e0f55ad71a54ad16c8f924915714afda6d2fb5b7 + +2 red candles? Hank stop it, you've lost your mind. Well, dear ape, that is true. But if you look closely, though it's a red day, it gapped up from the previous day. Boom, another increase. But are there more? + +https://preview.redd.it/p6fp1cnptbw61.png?width=1312&format=png&auto=webp&s=56d2d75839115e5c171a96c571e2b13591a8553a + +This one isn't as exact because I can't tell if the short happened on 3/22 or the next day; however, about 35 days later, what do we see? Yup. In the words of K-Pop star, DJ Khaled, anotha one: + +https://preview.redd.it/eyc5ol34ubw61.png?width=1310&format=png&auto=webp&s=adb194a03affc13a5129781e495a98e23dc7fa0d + +But Hank, what about earlier dates? + +https://preview.redd.it/rlkwi73szbw61.png?width=800&format=png&auto=webp&s=90bd5f7f062a4598415fada969220e46b1006f16 + +FUCK, WRONG PICTURE, HERE'S WHAT I WAS LOOKING FOR: + +https://preview.redd.it/kg8r7bqrubw61.png?width=1318&format=png&auto=webp&s=13a3fe685de3cfc8652f37fdb75041d3b2ec4596 + +But Hank, surely you're just an idiot cuck who doesn't deserve his wife's boyfriend? + +https://preview.redd.it/eru5zl7bvbw61.png?width=1481&format=png&auto=webp&s=e949415c93aaf62716007ce995643e37267496f2 + +Alright apes, so there's a fair amount of evidence, but what about connecting monthly option expiries to T+35. Well: + +https://preview.redd.it/vu7yjac7wbw61.png?width=1322&format=png&auto=webp&s=c32cbaad0bdb50c1d51b385849b0d3097078b9ba + +The red lines are monthly option expiries. You may have noticed that I already gave some of the T+35 dates above a different day that was slightly before or after the option expiry. The reason I showed both of these is because it's hard to know exactly when they covered because T+35 is a maximum, so that means it could be either lined up with option expiry or short attack days..... or both. + +"BUT HANK, YOU'RE DIGGING TOO DEEP INTO THIS, IT CAN'T POSSIBLY BE TRUE. THIS IS AN ISOLATED INCIDENT WITH A STOCK THAT TRADES IRRATIONALLY." Oh little ape. I direct you to this post, which shows that TSLA, Sundial, and Draftkings all do the exact same thing (which makes sense because they have also been heavily shorted): [https://www.reddit.com/r/GME/comments/n1m2bx/ftd\_volume\_in\_shorted\_stocks\_have\_clear\_cycles/](https://www.reddit.com/r/GME/comments/n1m2bx/ftd_volume_in_shorted_stocks_have_clear_cycles/) + +Shoutout to u/floW-- you are loved by Hank + +I also tested this theory with AMC and it works just as well (didn't feel like posting screen shots because am lazy). Now, you're definitely thinking to yourself, "but Hank how can this be true, are you saying it's a market-wide phenomena?" + +[YES](https://preview.redd.it/vj65861nxbw61.png?width=320&format=png&auto=webp&s=b76b2a3311140af633c8e7f644c5d3a5fa840904) + +I will now direct your attention to an important DD about 2 important OCC rules that I think everyone should be aware of. These could explain why we are trading sideways and could also show where we might be heading. These have to do with FTDs, so it compliments this theory: [https://www.reddit.com/r/Superstonk/comments/mu9xed/why\_were\_still\_trading\_sideways\_and\_why\_we\_havent/](https://www.reddit.com/r/Superstonk/comments/mu9xed/why_were_still_trading_sideways_and_why_we_havent/) + +Shoutout to u/c-digs for this post, you are also loved by Hank. + +Finally, I would direct your attention to every single post by the absolute ZADDY who is u/atobitt. This KING does legitimate research on the problems of naked shorts, rehypothecation, and FTDs on a market-wide basis and shows how it's a giant house of cards. There was also a QA with Dr. Trimbath (hopefully you already know about that) and she goes over the dangers of naked shorts and FTDs in Wallstreet and how it's a bigger problem than anyone thinks. Overall, this is just further evidence of the dangers of FTDs and how pervasive they are in the market. + +**Where to next?** + +I'd like to keep digging and see if I can find anything else related to T+35 or any smaller trends in FTDs (maybe related to weekly options but IDK if there's anything there). I'd also like to emphasize the point I made the other day about there being these random green candles in the middle of the day for GME, which are the highest volume of the day and are an anomaly when compared to other stocks (but not AMC). Maybe FTDs can explain this as well? We shall see. + +Finally, I want to reemphasize a point that I made in a previous DD to put this into perspective: + +"There are many DDs that say similar things to this involving periods revolving around FTD cycles and price increases. Some of these DDs are identical. Others are very similar and others are different. Some say that the FTD period is X days while others say it's Y days. Some say it's based on option expiry, others say it's just random, others say it's based on ETFs. HOWEVER, all of them have one crucial thing in common, which is the most important thing for you to get from this DD: HFs are TRAPPED in an FTD cycle and are using every trick in the book to reset/delay the FTDs. The only way for them to get out of it is for apes to lose interest and sell the stock. This cycle gets more and more expensive for them as time goes on and eventually the cost will outweigh their resources and they will be forced out through margin calls." + +That's all for now. Stay strong, apes. + +**\*\*\*\*\*\*\*\*\*\*Not a financial advisor. Not financial advice\*\*\*\*\*\*\*\*\*\*** +Browsing BBC I spot a personal-finance-related article, headline being "Payment firm Klarna messed up my credit score, says student", so i gives it a click. + +Fifth paragraph in: + +>But, she often used Klarna, a buy now pay later firm, to buy clothes online, try them on, and pay 30 days later. +> +>***She missed a few payments -*** not realising that it could affect her credit score, + +(emphasis mine) + +I'm sorry, but what? How is this Klarnas fault that this person missed her payments? Did she just think it was OK not to pay her credit provider this month? Why is this even being reported on? + + [https://www.bbc.co.uk/news/business-50306563](https://www.bbc.co.uk/news/business-50306563) +Here’s what I’ve noticed recently: + +1. Posts showing the SEC/Gensler as incompetent or corrupt. + +2. Posts claiming pressure from family to paper hand. + +There have been a couple of posts about the SEC and Gensler lately, but the one that really stood out as FUD was the one from Twitter claiming Gensler got up and talked about milk and sustainability. Anyone who looked into it saw he was making an analogy, and highlighting that investors need better access to more information, but the comment section was full of shills outraged at what they perceived as incompetence. There are valid criticisms of both Gensler and the SEC, but this wasn’t it. + +I’m sure that the SEC is both incompetent and corrupt, but if there are enough of us (and there are) to hold them accountable, they will not be allowed to continue to be incompetent and corrupt. If we make enough noise about this, they will no longer be able to hide. + +The posts about family wanting you to paper hand included the one about the intervention (really?!) and another about a girlfriend... I don’t remember the details. But they were clearly using fear to push the idea that GME/Superstonk is a cult and that you need to paperhand your way out. + +Nothing to disprove the DD, just FUD. + +Stay strong diamond hands. BUY. HODL. +To quote [this](https://www.moneycontrol.com/news/business/markets/this-underperforming-sector-produces-nine-multibaggers-in-2021-what-should-you-do-7097721.html) article, 60 percent of stocks in S&P BSE FMCG index have hit 52-week highs in June. However, the increase in the index(~7% )is still less as compared to the benchmark index(~13%). India still has a low consumption per capita compared to its peers. Covid has also quickened adoption of technology. With Covid cases declining, is this sector a right place to invest in for medium to long term? Please share your thoughts. +A friend approached me about going halfsies on a barrel of whiskey; $10,000 split 2 ways. Returns after 5 years could be between $23,000 and $32,000. + +I'm not sure how to respond to this. It seems kind of strange to invest in physical whiskey. + +Curious to see what your thoughts are. +RC has motivated me to finish my novel and sell it as NFT, fuck Amazon and fuck publishers. Be so sweet to see my novel as NFT in GameStop market place. Be a pretty cool way to buy and own comic books too! The opportunity is limitless. Whatever you do, you now have a place to sell your content and own the rights, the old way of doing things is dead. Fuck Amazon and fuck all these other corporations who have been robbing the public of their art and innovation. Let’s get creating apes. Power to the creators! +There was a study from Texas A&M that was highly cited in Superstonk last week upon news of GME moving from the S&P SmallCap 600 to the S&P MidCap 400. I myself wrote a summary of the conclusions of this study on what to expect: [https://www.reddit.com/r/Superstonk/comments/oswfnz/gme\_to\_the\_sp\_midcap\_400\_on\_aug\_4th\_possible/](https://www.reddit.com/r/Superstonk/comments/oswfnz/gme_to_the_sp_midcap_400_on_aug_4th_possible/) + +I and others who cited this study missed something very important! The problem is that this study ([https://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.522.7114&rep=rep1&type=pdf](https://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.522.7114&rep=rep1&type=pdf)) lumps promotions from the S&P 600 to the S&P 400 TOGETHER with promotions of non-indexed stocks straight into the S&P 400. Therefore, this did not give us a clear picture of what **specifically** to expect for GME moving **FROM S&P 600 TO S&P 400**. + +[from Texas A&M study](https://preview.redd.it/f0ymun3fl6f71.jpg?width=878&format=pjpg&auto=webp&s=35bc6155d889bca54ef2dff09c73a4695b607ea3) + +For GME's specific type of promotion (from **S&P 600 --> S&P 400**), we must turn to a separate study ([https://cdn.ihsmarkit.com/www/pdf/1020/Index-Inclusion-is-More-Impactful-than-Warren-Buffetts-Berkshire-Hathaway-v3.pdf](https://cdn.ihsmarkit.com/www/pdf/1020/Index-Inclusion-is-More-Impactful-than-Warren-Buffetts-Berkshire-Hathaway-v3.pdf)) which I summarize below. + +[\\"larger index\\" here refers to S&P MidCap 400](https://preview.redd.it/cule7agul6f71.jpg?width=512&format=pjpg&auto=webp&s=770f07f21915521f8d6c56689ecb3c3694647e1a) + +Okay, so this is the opposite of what the Texas A&M study was inferring, but also specifically referring to promotion **FROM S&P 600 TO S&P 400**. **What SHOULD we have expected upon the S&P 400 news? A dip! What did we get after the news? A DIP**. Nothing out of the ordinary. The **average dip is 5.5% from the announcement of this type of promotion** ("on date of announcement"); The announcement for GME came AH on 7/27. GME closed at $178.54 on 7/27 and then gapped down on 7/28 and closed at $169.12. A dip of $9.42 or **\~5.3%**. This is about as close as you can get to exactly what we should have expected! This was predictable, we just missed it. + +[middle bar is the one of interest here](https://preview.redd.it/u1igtv1wn6f71.jpg?width=531&format=pjpg&auto=webp&s=4695a95b5b6d248293bcd5d91a967b17730078b5) + +In fact, it would be **so** **rare** to see a price increase when a stock is promoted from S&P 600 --> S&P 400, that out of the \~300 index changes analyzed in this study, **NOT A SINGLE ONE** showed gains. + +[Middle bar shows us how normal a dip after promotion to S&P 400 from S&P 600 is! It would be abnormal to see anything else, in fact!](https://preview.redd.it/atb6b29to6f71.jpg?width=549&format=pjpg&auto=webp&s=f077d85375e3de8889e3fd4bbebd63a83d799da2) + +So have the dips AFTER 7/28 also been due to promotion to S&P 400? As this study finds, that is **unlikely**. The dips since 7/28 have probably been SHFs taking advantage of the downward pressure put on the stock by the promotion to S&P 400 and trying to suppress it for as long as possible (my best guess). In addition, the study found **NO TREND on the date of the fund move (TOMORROW for GME)**, **so do not expect any serious price action tomorrow solely due to S&P 400 promotion**. Lastly, don't expect any additional price action (positive or negative) in the next few months that would be attributed to S&P 400 promotion. + +https://preview.redd.it/kw47qtvqp6f71.jpg?width=535&format=pjpg&auto=webp&s=24966a2f0d4749d35e3a811aa6fd7ba5832d1f71 + +Summary (**TLDR**) + +* We (I included) misinterpreted that highly cited Texas A&M study that said we should see positive price action from the promotion to S&P 400. +* Instead, **promotion from S&P 600 to S&P 400, specifically, leads to a dip, RELIABLY,** based on a more specific study of this type of promotion. Average dip of 5.5% after announcement - GME dip after announcement 5.3%, **spot on!** +* It is unlikely that any price action after 7/28 has anything to do with S&P 400 and it is more likely SHFs taking advantage of the downward pressure due to the move from S&P 600 --> S&P 400. +* We should not expect any further selling nor buying pressure from GME's move into the S&P 400, including tomorrow when that move becomes official. +* This changes nothing other than you should find comfort that the dip on 7/28 was likely due to promotion into S&P 400 and subsequent dips may be due to SHFs taking advantage of the initial downward pressure. +* I love this stock and continue to buy, hold, and buy some more. + +Not financial advice, you all know that. + +&#x200B; + +edit1: typo, thanks u/guerillasouldier + +edit2: A lot have mentioned GXO Logistics (GXO) and Victoria's Secret (VSCO), both of which are also moving into the S&P 400 and are seeing gains, not dips. Remember, both VSCO and GXO are moving from **non-indexed** into the S&P 400. This is a completely different index move from what GME is making (S&P 600--> S&P 400). Based on the graphs in the study, this is also to be expected. + +edit3: I also did a qualitative volume analysis you can see here: [https://www.reddit.com/r/Superstonk/comments/oxing8/sp\_midcap\_400\_promotion\_tomorrow\_volume/](https://www.reddit.com/r/Superstonk/comments/oxing8/sp_midcap_400_promotion_tomorrow_volume/) +Don’t know much about the economy and I’m pretty this question is dumb but Ive always heard one group say taxes on the rich should be increased while another group says that increasing taxes on the rich will harm the economy and cause the unemployment rate to go up. So I was wondering will tax increases on the rich hurt the economy? +I often hear that China is only nominally a communist country. After Mao's death, they only retained the authoritarian qualities of communism and reformed the economic ones. + +Is this actually true? I've learned about China's special economic zones. They're supposed to be more free-market oriented. Does this mean that the rest of the country still has communist economic policies? + +Is their system working out? Is it stable or are their policies further evolving towards one direction or the other? + +Thank you. +I'm 99% sure the answer this is no. But I'm a little confused because. + +1. Why else would it be named in such a way that suggests it's nationally owned +2. it merged with the 'National Commercial Bank of Scotland' in 1969, which was in turn formed by a merger 'National Bank of Scotland' and 'Commercial Bank of Scotland' in 1959. I can't find anything stating explicitly that these banks are state-owned, but based on their names, I feel like they must be. + +If the answer is no, then why are they named as such? + +&#x200B; + +I'm trying to determine if it's in anyway comparable to banks like KfW Bankengruppe in Germany, or even the 'Scottish National Investment Bank' in Scotland itself. + +Thanks! <3 +I have seen some great advice on tax strategies on this sub! But I didn't know if somebody created a sub specifically for this topic. + +OR if reddit is not the best place to discuss, where would you recommend? + +I really enjoy reading about Tax Strategies. I am in the USA and it is interesting what high earners have done. + + +EDIT: After seeing that there is no good sub by your replies... I created a sub: r/AdvancedTaxStrategies +Welcome to the Daily General Discussion thread of /r/EthTrader. + +*** + +Thread guidelines: + +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All [sub rules](https://www.reddit.com/r/ethtrader/about/rules/) apply here so please be familiar with them. + +*** + + Resources and other information: + +* Find the latest Altcoin Discussion thread in [this search listing](https://www.reddit.com/r/ethtrader/search?q=author%3Aautomoderator+title%3Aaltcoin&include_over_18=on&sort=new&t=all). + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! +This sub was much better when it was all stupid memes. Now every other post is some nobody's stupid motivational message about why crypto is going to the moon even while the market tanks and why we'll all be the smart rich ones in five years blah blah blah. Nobody knows anything. We may all be rich in 5\-10 years or we may all be bankrupt and living in a cardboard box due to our HODLing. But regardless, these posts are all low quality posts by people that are scared and trying to convince themselves of something. Nobody cares about the opinion on how the future of crypto will play out from an anonymous poster on Reddit. And if you think sane, rational people that are deciding if they should put money into the market are coming here to do research and seeing that and deciding they should enter the market then you are wrong. Normal people see these posts and it confirms their belief that everyone here is a brainwashed cult member and that they should run in the other direction. +Hi There, + +I have lost about 25k in pounds as a novice forex trader. I have blown many many accounts over the passed 4 years. I am currently even paying back a loan for another 6 years to pay for these mistakes. I know my problem (Risk & money management) But I am totally unable to keep this in check consistently. + +I have also had many many good runs - Which after a certain time or state of mind I end up blowing it within a day or two if I'm lucky. My recent run I have deposited 50 pounds into a spread betting account. I obviously took huge risks compared to my capital and grew the account to 1150 pounds within a week. It sounds completely impossible but I have the proof for it on my spread betting account which I can download to an excel sheet. I then got into a wrong state of mind in 2 days I lost all the money. I actually deposited 16 pounds back to my account. + +My conclusion that making money in forex is to keep your mind stable. with 50 pounds I was clearly not worried that I would lose the money. Even when I got to 500 pounds I was still not bothered about losing it and lowered my risk but still took 25% risks. Once I got over 1100 it was totally psychological that I started losing. + +My question for you guys reading this is how do you constantly over time train your body/mind to keep your emotions in check? What are those signals that fire at you as massive warnings that you are not in a positive state of mind? + +I also have a problem chasing losses - especially that I take such big risks. I know the whole 2% risk rule. But I don't find it worthwhile to take 2% risks on on an account up to about 5k. I need to be able to make at least 150 pounds a day and on such small accounts I keep trying to race to 10k so I can risk 2% and my risk:reward ratio would put me on average to make 150 pounds a day target. Yes over 4 years I could have take 1000 pounds and probably grow this to 50k consistently with 2% risk. + +If you reading this I will gladly answer or read what you guys have to say. I would also appreciate if you can share your psychological issues with me. + +Thanks for your time + +Cheers +I updated my spreadsheets today for the first time since early December and the total came to **$100,803.34**! Six years ago I was living in my parents basement paying off student loans. I want to share how I got here since it happened in large part due to this subreddit. + +&#x200B; + +Some background on my life that influenced how I think about money: + +* My parents were very frugal. +* I was in a relationship as a teen (an abusive relationship… more on that later). My ex-boyfriend got kicked out of his home at 18. He put himself through his first year of college on scholarships, got multiple jobs to pay for food and an apartment. We worked at the same place, so I saw how he took on as many shifts as he could handle with his other jobs. It wasn’t healthy and he was definitely in a bad spot in life, but what I took away was that hard work, perseverance, and strict budgeting can get you what you need and want in life. +* My parents were straightforward with me about money; they paid for necessities, but I had to earn fun money. This meant a lot of my time outside of school went to jobs. I got my first job at 14 and have been working ever since. I had friends whose parents gave them fun money. They eventually weren’t my friends anymore because I “didn’t have time for them” … because I was working to make money so that I could do whatever activity they wanted. This was a good lesson in keeping people around (or not, in this case) who align with my values. +* I got scholarships to cover some of college, got jobs that covered parts of housing and food, and my parents covered what they could. I saw friends who took out loans for all of it and knew I wanted to avoid that, so I was smart about leveraging my good grades for more scholarships and jobs that covered costs. I took out loans when I needed to, which was thankfully rare. +* During college, my mom got very sick and ended up dying (more on this later). Long story short, how to pay for school, housing, and food was always on my mind. Money was always on my mind. I stressed about how to eat for the last two years of college. During this time I grew to hate relying on money. + +I didn’t know about FIRE at this point, but I knew I didn’t want to stress about money all the time. I decided whatever my career path was going to be, I was going to make a lot of money and then not have to worry. + +I want to pause here and acknowledge that privilege has played a huge role in my life and in my family’s life, specifically being white, having a financially secure family as a safety net (most of the time), and having a good education. My journey would not be the same without those factors in play. + +&#x200B; + +Okay, on to the numbers year by year. The networth is from the end of the year. + +# 2015 NW: -$12k + +* Graduated with an art degree with a concentration in graphic design, knew I was interested in web design, found a company doing tech-related things and took the internship they had available. This job is how I found out about UX, my now career. I’ll call this Job A. +* Salary: $38k +* Debt: -$12k student loans + +# 2016 NW: -$10k + +* Debt: -$10k - Paid off my student loans in 6 months. Bought a used car for $15k, $5k down in cash (thanks dad), and planned to pay the rest off in 3 years to build credit. +* Salary: $42k - I was very aggressive about getting raises. I was underpaid and knew our company’s finances favored squeaky wheels, so I was the loudest squeaky wheel. I don’t recommend the squeaky wheel approach. +* Job A often did not pay on time or in the correct amount, but the work was exciting and I loved my coworkers. I was learning more about UX and getting to apply those skills to real world projects. +* I moved from my parent’s basement to a relative’s empty house where I lived for free. + +# 2017 NW: $0k + +* Salary: $49k, then $63.4k later that year - Still at Job A, I got other offers and threatened to leave if I didn’t get a raise that matched. This was the only way anyone saw raises, and then when they did get the raise they were shamed for going about it that way. I do not feel good about this, but knew that I wasn’t getting paid fairly. Looking back, this company was taking advantage of it’s employees in more ways than one. I should have left around this time, but I didn’t. +* Debt: about -$7k +* Started contributing to a Roth IRA. +* This year I realized that my previous abusive relationship from high school had really affected me. I had repressed the abuse for almost a decade. I began seeing a therapist and was diagnosed with anxiety. +* Met my now boyfriend, which was the brightest spot of 2017. +* This was the year I made a reddit account and discovered FIRE, propelling me to spend less and make more. +* The free living situation was no longer an option, so I moved into an apartment with a roommate. + +# 2018 NW: $12k?? + +* Salary: $77k - I was moving into management at Job A and in high demand for my skill set regionally. This had me thinking about leaving. Also, the company was straight up abusing its employees, so I was balancing shielding my team from that and getting myself out at the appropriate time. +* Debt: about -$3k +* My therapist was crap so I saw a new person. Diagnosed with PTSD from the abusive relationship. +* This year I also had a very specific medical event that involved me not being able to walk for 6 months. That, combined with the PTSD stuff, really put me into a downward spiral. + +# 2019 NW: $37k + +* Salary: + * $90k at Job A - Quit Job A without a plan because my mental health was so bad and Job A was making it MUCH worse. I started a small UX consulting firm which was meant to be temporary. I did that for 6 months and made enough to live on. I was mostly focused on finding the right PTSD treatment during that time. I was only able to do this because I had some savings, which, given how committed I was to FIRE, was a big deal for me to burn. I am not sure where I would be if I had not taken this break from work/life. + * $110k at Job B - the company I’m with now. It offers benefits (Job A didn’t) so I can use more tax advantaged savings options. Still doing UX at Job B. + * Debt: $0k! Paid off my car. +* Found a new therapist and discovered I actually have Complex PTSD, or CPTSD. This therapist helped me put two important things together. First, I was in an abusive relationship in high school (although I didn’t know it at the time) and my brain repressed ALL of that. A decade later, 2019, I started having flashbacks of things I had no memories of. I started having panic attacks. Second, after this relationship is when my mom got sick. For two years before she died, every day, I thought “My mom might die today.” So this is what the therapist helped me figure out: For about three and a half years in my early twenties my brain was on stress high alert thinking something life-threatening was going to happen at any second. +* Moved in with boyfriend, so living costs went down. + +# 2020 NW: $85k + +* Salary: $110k plus equity (worth very little at the moment) + * Mandatory, company-wide reduction in salary for 6 months of 2020: $82.5k. +* Debt: $0k +* Got more serious about tracking where my savings/investment were going and how they are growing. 2020 ended with: +* Cash: $38k +* IRA/HSA/401k: $45k +* Other (life insurance, brokerage): $1,600 +* My therapist died unexpectedly, then Covid happened, my salary took a hit, and more medical problems happened. Initially Covid really helped my mental health, but overall has not. I found a great therapist halfway through the year and am seeing hope in the work and treatment we’re doing. The medical problems are being managed but I’m paying a fortune for healthcare (not a great year to choose HSA). + +# 2021 NW: $100k so far + +* Salary: $110k - I’m used to getting aggressive raises every year. I’m feeling the itch to go get another offer and bully my way into more money, but I know that won’t fly. I’m not used to working in a good culture, liking the leadership, and trusting the company finances. I definitely want to stay at Job B, so leaving just for a pay bump isn’t an option. I am working with an outside personal mentor who is coaching me to get what I deserve and handle it in a way that builds our culture rather than break it down. +* Debt: $0k +* Cash: $48k +* IRA/HSA/401k: $51k +* Other (life insurance, brokerage): \~$2k +* Total NW right now: $100,803.34 +* My partner and I are looking to buy a house (we rent) and that is not going well in the current market. We’re planning to keep an eye on things this year and hope for more inventory, but buying in 2021 would be ideal. +* My health, mental and physical, remains a concern. I am seeing improvement on all fronts, but it keeps me up at night. FIRE means nothing if I don’t have my health. + +# Some other stats: + +* Late 20s woman in M/LCOL area. +* FIRE goal: $3.3MM by age 45 at 3.6% WR for annual spend of $120k. This goal is for my partner and myself. Our combined NW is ~$250k right now. +* I don’t budget much. I have tried every method out there and none stuck. My version of budgeting is I have a spreadsheet where all my fixed expenses and variable expenses live. Those total about $2.5 - $3k per month and that includes savings for Roth IRA and a couple hundred bucks for my savings account. I know I spend a lot on food, but in Covid times I’m fine with that. I am happy to spend money on good quality meats and takeout from my favorite places when there is no place to travel. +* My savings rate is near 25% - 35%. +* Planning to get into investment properties as a way to make more income (with my partner). + +&#x200B; + +I am so proud of using my art degree in the tech world and being able to make a living off of it. I was originally in school for something else, but my mom was planning to go back to school for her dream career before she passed away. She regretted not doing that sooner. When she died I knew I would regret not going to art school, so in a way my whole journey is a reflection of the bold choice she was about to take. I have to thank both my mom and dad for encouraging me to "do something with computers," even in art school. That advice directly led to my career in UX. + +Writing this was a surprising reflection on how much CPTSD has affected my career over the last several years. It often feels like it’s impossible to have a job and handle CPTSD. I look back on this post and see that I can handle a job and manage my mental illness - it is possible! + +To those of you that made it this far, thank you. The only person in my life I will tell about this milestone is my partner, so it felt natural to share it with you all too. Thanks for reading! +We're planning to start a family soon and we've started looking at nearby nursery costs in London. It's blown my mind a bit the numbers I'm looking at... 2k a month on average. + +This is a ridiculous amount of money and would require a lot of sacrifice and cut back to our lifes. We enjoy travelling, going out etc, spending on our hobbies but also save a good amount into ISAs and pension. + +I guess my question is how do you manage mentally. We can make it work but I just feel it would be so depressing those early years where all we can pay for our bills and childcare. + +Does it get better? Imagine year 1 to 4 is awful but after primary school starts it's back to normal? Unless we want another one +Seriously? I see a lot of talk about doge and this and that. Why is no one talking about shorting it though? I’ll be working on it tomorrow and going into Sunday; this will have a learning curve for me. I’ve never shorted a crypto. Please upvote because +Dogey bois are going to be big mad at this thought. + +https://marketrealist.com/p/how-to-short-dogecoin/ +Apes, I come to you as a fellow primate with excellent news: my wife finally left me. Now I have her boyfriend all to myself. + +Before I reading, I just want to express that predictions and dates should not be taken as absolute and that these are just my opinions on what COULD be coming. I am also well aware that correlation does not equal causation and that these correlations could be coincidences, so please don't comment that, these are just my thoughts based on research that I've done. I've done many posts on GME and these are all my personal opinions based on my research, so do not take them as fact. This is not financial advice, I am not a financial advisor. + +There's been an onslaught of news regarding GME in the past few weeks and days, and I believe that there is more to come and that because of that the squeeze is inevitable and in the near future. + +**The news:** + +\- Amazon + Chewey Execs being appointed + +\- RC being named god of the board + +\- GME announcing the search for new C.E.O. + +\- GME paying off senior notes (today) + +\- The announcement of GME's right/intention to sell 3.5M shares or $1B in value (this may not seem important but I'll explain why it's crucial later) + +\- The announcement of the definitive date for the annual meeting (6/9 lmao) + +**Why it matters:** + +The past two weeks have been bombarded with news from GME, and almost all of it deals with leadership or the transformation. I believe that this bombardment of news is extremely intentional. The reason that I believe this is because of their announcement of the right to sell those shares. When GME made this announcement, the stock was at $190. GME knew full and well that anytime an announcement like this happens, the market would react negatively to the stock, and, because GME is so volatile and the victim of abusive shorting, that negative reaction could've been huge. Despite knowing this, they decided not to sell at that moment. I deduce from that lack of action that GME believes that the stock will go WELL ABOVE that $190 level sometime in the future because if they really wanted to capture the value of the stock at $190, they would've just sold the shares instead of reserving the right to do so. With that being said, I believe that they are actively trying to set up the stock for a massive run that could potentially trigger a squeeze so that they can capitalize on a price that is well above $190. If this wasn't their plan, then it made zero sense that they didn't just sell at $190 knowing that the announcement would tank the stock, which it did. Finally, when almost every analyst (boomers) says that GME is grossly overvalued, it is irresponsible of you as a corporation not to take advantage of that extremely elevated share price unless.... you have reason to believe that it will soon be substantially higher. Therefore, I believe that the recent slew of announcements is their attempt to make that happen and that we should see more announcements in the near future because they are probably well aware that being lax about this could lead to decreased interest in the stock. + +To add to this, GME has repeatedly warned in their S.E.C. filings that suspect shorting activity on the stock could cause it to squeeze (they have said this twice since the original squeeze). This, to me, seems that they are covering themselves so that they can't get sued for market manipulation if it does indeed squeeze. What's even more interesting about this is that maybe they have data that is not available to apes and other primates that suggests that the shorting activity is even more abusive than any of us thought (again just a theory). + +**Catalyst** + +But what could the next announcement be? It's very difficult to actually know. The paying off of the senior notes caught me by surprise but isn't news that would actually propel the stock to the stratosphere. I believe that their next catalyst will be something about either the C.E.O. position or the digital transformation. GME could very well announce Cohen as the C.E.O., which would undoubtedly send the stock to the stratosphere. They could also announce something about an acquisition or something related to their shift to e-commerce. Again, this is simply conjecture, but I believe that GME is going to make some kind of catalyst announcement soon to push up the price. However, the biggest and most crucial catalyst could be a share recall. First, I want to stress that GME itself cannot recall shares, only individual investors can do that. If only there was an investor with a ton of shares in GME who has an active interest in making the stock go higher and has tweeted cryptic messages about hating shorts and bears... oh wait. If Cohen or another whale with a high stake in GME announces a share recall, that could be the ultimate catalyst for us. Or, if the hiring of a new executive/board member requires a vote, an activist could do what Hestia did last year and recommend that all shareholders recall their shares (see my previous DD on that). + +Personally, I thought that the Cohen news would propel us to the moon, but I guess not. Maybe that shows more proof that shorts are in really deep. + +**Timing** + +The timing on the possible above-mentioned catalyst could not be more perfect. First, our lord and savior Mr. Gill's calls expire this Friday. At the same time, GME is forming what many are calling the mother of all wedges on extremely low volume (pictured below). The apex of the wedge should be this Thursday or Friday but could get pushed back to sometime next week if we still trade sideways. As many of you know, the options volume for this Friday is also through the roof as most of GME's monthly options are. What I'm hoping for is that GME announces some kind of catalyst in the coming week that will make a whale who is not invested in GME think "wow the stock is consolidating in this giant wedge pattern and is relatively cheap... time for some chaos." Finally, we have the 4/20 (lmao) deadline for shares to be recalled ahead of the annual meeting. I have trouble believing that GME is not going to do something before that deadline to trigger a price jump because, as I said previously, they have a vested interest in getting this above $190. + +Here's the mother of all wedges that is actually forming with the mother of all cup and handles (yeah I know the cup and handle might be a stretch): + +&#x200B; + +https://preview.redd.it/c58px0bui0t61.png?width=1428&format=png&auto=webp&s=6cf2c498feccf05e468d3dc2c0d7fb570923a02b + +Finally, I also said in a previous post that GME is correlated extremely closely to the VIX. Many have said that it is inversely correlated with SPY, which seems to be true, but it is even more directly correlated with the VIX. This leads me to believe that GME does not move when the market is bad, but GME moves when the market is volatile (which usually happens when the market is bad). And, oh would you look at that, SPY is at $412 and is overbought and the VIX is at $16 (pre-pandemic levels). Looks like the market is thirsty for some nice volatility. For more on this, I encourage you to read "the everything short" post, which provides a much more in-depth analysis of how the market could crash and how GME relates to that. + +Here are the charts. The first one is VIX and the second is SPY (both are the purple lines), as you can see, the VIX lines up extremely similarly with GME and SPY seems to be inverse to GME. This shows that GME does best when conditions are volatile or that GME creates volatile market conditions. As stated previously, the market is very overbought right now and there is very little volatility, so GME may soon be primed to change that or benefit from a change. The thing to get from this is that, based on GME's relationship to SPY and VIX, this is another indication that GME is in the perfect position to have a breakout as SPY is overbought and VIX is extremely low: + +https://preview.redd.it/92blf0gxm0t61.png?width=1950&format=png&auto=webp&s=f9bd5bff8b3b6656ff1fda7c1a5336e59a596509 + +https://preview.redd.it/3tedvwfxm0t61.png?width=1948&format=png&auto=webp&s=952f917d613ad7007e60c5ef47a1636a8829fd60 + +**Quick Note on Short interest** + +Just wanted to give my thoughts on the GME short interest. As you all know there are tons of different numbers on GME short interest. Most boomer websites say it's anywhere between 19%-50% which is still extremely high. Most apes say that it's over 100% at minimum. I personally believe that websites are correct because the data is being altered through ETF shorting, naked shorting, and synthetic longs (see other posts for more on this). Therefore, I believe that the true short interest is over 100%. It makes no sense that GME's borrow rate on iborrowdesk is below 2% with short interest being able 20% and available shares getting to below 100 at one point today. Also, based purely on logic, it doesn't make sense that if every boomer analyst thinks GME is grossly overvalued that they wouldn't short it, so there is no way that GME's short interest is anything below 50%. Therefore, I believe that they are indeed abusively shorting it but are using the above tactics in order to manipulate the data so that the true short interest isn't shown so that regulators and the media don't start getting suspicious. + +**Conclusion** + +So, we have technicals lining up very nicely, a company with a vested interest in seeing the stock soar right now, a plethora of potential catalysts, a definitive date for when shares would need to be recalled, abusive shorting, a failure to deliver cycle, an insanely volatile stock that loves good news, a market that is thirsty for some volatility, and oh year one more thing.... some damn primates that refuse to sell. Stay strong, apes. +I see a lot of posts here and advice thats bit risky and not even sure it belongs to theta gang. Everyone has different risk tolerance and his own style. Do not follow other people style. Choose yours. Kinda like playing sports. You dont copy someone's style. You have yours. +So this morning I woke up[,](https://imgur.com/gallery/jrPLzQu) checked pancake swap and FREAKED THE FUCK OUT. Zeros everywhere. This was it I thought. Has the dreaded bear market come?! From hero to zero in a flash and I'd slept right through it. Game over. + +I checked in on some of my coin charts and telegram groups. Panic everywhere, people frantically trying to sell left, right and centre. I was kicking myself for not realising my gains. + +But then I checked the Bingus chat. They barely took a scratch, only dropping 10% when everyone else was getting butchered. + +Wow. Absolute serenity from this community. A sea of calm in an absolute shit storm. I was immediately put at ease about what was going on. It wasn't over it was just pancakeswap being pancakeswap and weak folk panicking. Thank fuck. + +I was seriously impressed by the way the team dealt with the situation. They took it all in their stride and put everyones mind at rest instantly. Whilst other devs were frantically trying to figure out what to do the Bingus team made decisions, stuck by them, kept calm and carried on doing what they do. This has been a common theme throughout the short time I've been holding Bingus. The team is one of the most professional there is on bsc and I feel really comfy and hopeful about things going forward. + +If still don’t know Bingus yet (?!) they are a charity coin that donates 1% of every transaction to animal rescue charities. They already have some great endorsements from the likes of Rocky Kanaka, Moistcr1tikal and Bbno$. There’s rumours of more in the pipeline and some huge news that is very very exciting to say the least. It will reshape how people see BSC but we’ve not been told much yet. Their track history has proven when they say they’ll deliver they will. + +This isn't your usual moonshot. Like I say Bingus has a professional team behind it, a rarity in this crazy world of crypto. The devs are doxxed and fully transparent throughout and when they set targets they reach them. They plan ahead for every eventuality and have some next-level real world connections! + +But don't take my word for it, here’s what MoistCr1tikal had [said about the project](https://clips.twitch.tv/CheerfulColdbloodedPlumResidentSleeper-j7EO6EUkmsqLM2CP) yesterday! DYOR and check the links below to see what it's all about. You won’t be disappointed. I personally plan to sit comfy with this one for a very long time. + +**Satoshi Club AMA** is coming up on 26th of April, here’s the [tweet](https://twitter.com/esatoshiclub/status/1385490119189278720?s=19) so make sure it’s in your calendar and follow our social media! + + +Holders: 4,087 + +MCap: 5.7M + +Website : https://bingus.finance/ + +**New subreddit** r/BingusFinance + +Telegram: https://t.me/bingustoken2official + +Telegram Announcements &amp; News: https://t.me/BingusAnn + +Buy $Bingus on PancakeSwap: https://v1exchange.pancakeswap.finance/#/swap?outputCurrency=BNB&amp;inputCurrency=0xdA20C8a5c3B1AB48e31ba6e43f0F2830E50218D8 + +Discord: https://discord.com/invite/qKdZdd558F + +Twitter: https://twitter.com/BingusToken + +Chart: https://charts.bogged.finance/?token=0xda20c8a5c3b1ab48e31ba6e43f0f2830e50218d8 + +BSC Scan: https://bscscan.com/token/0xda20c8a5c3b1ab48e31ba6e43f0f2830e50218d8 + +Locked liq (RUGPROOF): https://dxsale.app/app/pages/dxlockview?id=0&amp;amp;amp;add=0xD4b8658E84cbd04eDa9010D46186F497b264A942&amp;amp;amp;type=lplock&amp;amp;amp;chain=BSC +40 yo just starting to set aside some retirement $$$. I have 401K accounts with my previous employers that I’d like to move to a traditional Roth that I opened with JP Morgan. I want to do 80% ETFs and 20% individual stocks. + +Depending on how the market is going and when I get my cheques from my previous plans it should be roughly $60,000. Considering I have 25 years of working left how would you advice me on investing strategies when it comes to ETFs? I plan on contributing $500 a month into this account. + +What would be the ideal contributions for the different funds to different classes?i.e. kind of assets, US vs international, sector e.t.c. +Is there any legitimate reason people choose to invest in SPY over VOO for their S&P 500 ETF? Both perform *virtually* the exact same, and VOO has a lower expense ratio (.03) compared to SPY (.09), as well as a higher dividend yield (1.31 vs 1.27). However, the avg volume of SPY exceeds that of VOO’s by over 16x. Can anyone point to a reason why SPY is much more popular than VOO? +Reasons why I think Uncle Bruce is likely to be a shill. + +\- He endorses Jim Cramer. +\- Earlier today, Uncle Bruce was trying to convince his viewers to write GME call options at $500-$600. +\- Months back he was preaching about how GME's price could explode as margin calls take place. +\- He has restricted comments to paid members only so there is no way to warn his viewers. +\- He is constantly trying to convince his viewers to buy lesser known SPACs. +\- He constantly says that GameStop should release more and more share's into the market whether or not it damages the MOASS. +\- His background story makes no sense. + +It was hard for me to write this as I generally don't like to publicly question peoples character but this dude is visible and it would be a shame for new apes to miss out or be mislead because of poor advice. Us seasoned apes already know to be very weary of these YouTube actors. + +\---------------------------------------------------------------------------------------------------------- + +EDIT: Thank you for all of the upvotes and awards. Even though I know similar has been discussed before without much coverage, I wanted to make sure that any new apes who stumble across Bruce (or any other YouTube actor) receives the necessary warning as it looks like we are fast approaching the MOASS. +No, I don't mean what stitching you'll choose for the leather seats for your Lambo. I'm asking something a lot of you probably haven't considered. You bought in at $.02, or $9, or $20, or whatever. You made a great call, your friends think you're a genius, and you're starting to think of yourself that way too. + + +Great. + + +Now the price is licking $100 on either side, and despite any corrections (c'mon, man, they're inevitable, no one gets 1,000% gains year over year EVERY year, it's simply not sustainable) it's likely to be worth more in a few years than it is now. Which means. . . + + +Some of you are now millionaires or will be soon enough to feel giddy with excitement. You are tracking numbers you've never seen before, life-changing numbers. Maybe you can pay off debt, maybe buy a house, pay for college, start a business, give to charity, or just sit back and relax and enjoy the fact that you made a really good call a while back and it's set you up for life. Maybe all of the above. Fan-fucking-tastic. + + +Now what? + + +How will you spend it? Not what are you going to buy. How. Will. You. Spend. It? + + +Are your coins in a digital wallet? Your $950 PC is now worth a million dollars. How are you backing up that wallet? + + +Are they in a paper wallet? Where are you storing that paper wallet? + + +God forbid they're on an exchange. How are you getting your money out? Do you think Poloniex is prepared for billions in funds leaving the exchange when a lot of early investors start to cash out? Have you done the math on how long you'll be exposed to market fluctuations as you try to remove your money with a withdrawal limit of $2,000 (or even $25,000)? + + +And what about all that smack talk? You've been telling everyone who will listen that you bought 197,000 ETH at .02. You think that quiet guy in your office, the one with the meth habit, can't do the math? He doesn't have to understand crypto to know you won the lottery. What about your family? The uncle with a bad gambling habit? Or just the jealous cousin who thinks she deserves to be just as lucky as you, and you're family so how about an interest-free loan? + + +Are you ready for the tax implications? I'm a big fan of, if you've got enough to have a painful tax liability, you've got enough to not give a shit about paying your taxes. When you're right with the tax man, no one can take what's yours. + + +And once you take it out, in fiat most likely, how are you going to handle the fact you're now back to square one, with money that loses value just sitting there. + + +So my question is: how will you pay off your debts, buy a home, give to charity, take a vacation, pay the tax man? + + +Yes, yes, we've all seen the Bitcoin Matrix meme: +>Neo: You mean someday I can trade my altcoins for millions? + + +>Morpheus: No, Neo. What if I told you some day you won't have to? + + +But you're sitting on real value. Have you thought ahead to how you will do all the things that value can do? +*Re-posted from* r/FIRE *after a recommendation from one of the folks there...* + +I'm 46, I earn 1M+ per year working for a tech company. I have about USD 2M in cash, \~1M in stocks & retirement accounts, and about 4M in real estate assets with around 800K of debt, wife, 2 kids. Total net worth of around 6M. (real estate is residences though, not investments) + +I'm aiming/hoping to retire in 5 years, and have been working my spreadsheet-fu, but have hit a snag. The 2M cash I was planning to use to leverage about 6M in real estate, with the goal of accumulating enough cash over the next 5 years to pay down that debt and pivot the assets into income-generating. + +I've run the numbers, and with modest capital growth (spidey sense says real estate might slow over the next 5 years), I end with a NW of around 11-12M. OK.. seems fine, but that 6M in real estate (call it 7 by then?) will \*optimistically\* gross a 5% yield, and once property taxes, maintenance etc are deducted, it's more like 3%. Even with the tax benefits of depreciating the assets, I'm looking at a taxable income of around 220K. That might seem like a reasonable amount, but we burn through around 250K right now and we're not "living large" at all (California is expensive AF). + +I basically replace mortgage payments with paying for my own health insurance, and our monthly expenses are the same. + +What am I doing wrong here? In what crazy universe is 11M NW not enough to "get by"? +At first, I thought maybe the SFH didn't want to be exposed for blatant market manipulation so they were somewhat restricted to bleed down GME over time in an effort to fit their paid-for narrative of retail losing interest. However, it is obvious that being subtle or reserved when it comes to them directly affecting the stock's movement has long since gone out the window and they are doing everything in their power to suppress the price. + +So given the fact that the gloves have come off and the net result is that the price has stabilized around $160 is super bullish. If they could have they would have already flash crashed this back into the teens. They don't have a solution for individual investors buying and holding the stock, they are not holding back some mastermind play to drop the price. Their only option is to spew misinformation, continue to manipulate the market, and kick the can down the road, in hopes people get bored. + +This is all to say don't get discouraged, the battle has already been won. There is no need for heroics and change tactics to try and trigger a victory. The strategy of Buy, and hodl has not changed. + +As much as I like to see XX% increase to my position, I know it's all funny money until the price looks like a phone number. +Good evening everyone, + + +Normally I would make a massive angry rant/whinge about property prices but not only have others beaten me to it but I can't even summon the energy to be angry anymore and its not like the housing Gods will take pity on me and magically make housing more affordable. So I have to work with what I got. + + +Anyway we all know by now that property is only going up due to FOMO, TINA, government intervention and low interest rates (which is here to stay for a long time). We also know that desirable 'bluechip' suburbs will always be expensive because everyone wants to live there but I grew up in the Western suburbs of Sydney (Bankstown/Punchbowl area) and I'm not picky in the slightest. If anything I'm happy to move further out West or to the fringes of Sydney to areas with rough reputations (Blacktown/Penrith/Liverpool) which will more likely to be cheaper since fewer people want to live there. I'm even happy to settle for an apartment of townhouse these days. The only things I care about is close to public transport and hospitals for work (work in NSW Health). + + +Some people are worried about the risk of high crime but part of me thinks these so called dodgy areas will become gentrified once young professionals start getting pushed and priced out of the more desirable areas and start settling into these rough areas though I could be dead wrong as well. + +So those of you who bought in 'dodgy areas' (regardless of property type and state), Was it worth it from a financial and life style point of view ? How did it turn out ? Any other information is more than appreciated. + + +Thank you for your time and have a great day (whatever is left of it). +I’m in my 20s and currently living in Melbourne, and it almost feels impossible to be able to one day afford an ‘inner-city’ house. So just wondering what plans some of you may have to overcome this ‘impossible’ feat. + +Edit: Have just been reading a few comments and I just wanna say… of course I don’t expect my first home to be an inner city house, I’m unfortunately not the son of multi-millionaire parents +With the rising prices of homes, this seems to be the solution. It would be nice for cashflow for investors as well. Why is this not a thing yet? I mean, the way things are currently, a 90yo grandpa can technically do a refi for a 30yr term. +The events of the recent week have highlighted issues that i have never considered, hence i have begun to re-evaluate my broker (Even if i was not personally affected by the buying freezes). + +As such i am looking for a EU-based broker that matches the services provided by Fidelity in the US. Thus, in addition to low fees, small spreads, decent margin etc. also have the following: + +\- In house clearing function. + +\- Does NOT limit my buy/sell orders. My current broker (Nordnet) has a 10% limit of last recorded market price. + +\- Has a securities lending scheme where the investor earns incremental income from shortsellers' loan of my stocks. Or atleast does not loan out my stocks by default. + +&#x200B; + +EDIT: After much research i have generally come to the conclusion that no EU-based broker can tick all these boxes. However, Schwab seems to have in-house clearing and offers a securities lending scheme, but their margin rate and trading fees are not optimal and seemingly requires a large deposit. Further, having included additional parameters such as trading fees, margin rates, etc. i have decided to switch to Degiro from Nordnet. +My wife and I recently purchased a property in the North East (small rural town) which historically had a property manager living in a separate cottage inside the property. This person took care of the buildings (cut the grass, cleaned the pool, managed external vendors, etc) in exchange for living there rent free ($30K annual value) and was paid incrementally \~30K/yr for misc projects. + +We're trying to figure out if this prior arrangement was "at market" or not, since the prior owners worked with this property manager for many years. Would appreciate the advice! + +Edit: Just one additional piece of context, which is that this is not a full-time job for the caretaker; this person has another job and offers similar services to other properties in the area. +I really don't get it. I first bought bitcoins in 2011 and I spent them, and yes, you can call me stupid because now, they would have worth way more. + +But I thought the point of bitcoin was to escape from fiat, banks, central banks and all this state corruption. + +But everyday, on every subs, on every twitter, someone wish his bitcoin were going to the moon. So what's the point, what's the goal ? Are we all going to cash out one day to enjoy our euros, dollars or yens ? + +I may be very stupid but I thought that we were building some kind of new world where, one day, fiat would not worth anything because we could buy eveything we want with our cryptos. + +But I'm probably too stupid. The proof is that - disclaimer - I don't have my driving license, I dont' want it and I don't want Lambo too. + +Again, sorry for my english, not my native language. +All those shares that were sold short after Apr15th could not vote BUT also have to be bought back! +If voting numbers are not over one bazillion, remember that. Fight the FUD. + +Go vote. + +I need more characters. I don’t have anything else to say really, but since I need more words I want to wish you all well. Stay safe during stressful times, take care of your health. Drink water, there’s not much of it on the moon, so enjoy the Earth variety. + +Mandatory: 🚀🚀🚀 +It’s an honest question. I’ve never heard Buffett talk about using EPS or even Free Cash Flow in his analysis. + +He talks about mainly pre-tax income as well as net earnings / net income (and has made a point in his letters that he doesn’t put much weight into cash flow numbers). He’s called them “absurd”. + +In the past when I’ve posted my due diligence / analysis on this sub on companies that have massively grown their pre-tax income they’ll be other investors who comment but only see / point out declining cash flow. + +On a personal level I’ve always ignored cash flows as well as EPS numbers and have focused on pre-tax income, net income, retained earnings, the growth / expansion of operating margins, and the growth of the cash balance on the balance sheet when judging the strength / quality of a business. + +From a valuation standpoint I’ve always looked at pre-tax yield. + +I’d love your thoughts / some perspective… + +Like Munger I’m always looking to invert so I’d love to hear where my analysis (in terms of the numbers above I focus on) may be flawed. +Indian government just announced that crypto will be taxed at 30% of gains. This is the first time the Indian government is discussing crypto taxation. +The tax will apply to all gains on digital virtual assets, and no capital losses will be allowed. Business expenses will also not be allowed. + +Gifts in the form of digital currency will be also taxed in the hands of the receiver. + +This is a landmark announcement as the first time the Indian government is announcing any law or regulation around crypto. So far nothing concrete was announced except rumors in the media. + +Now crypto being a taxable asset will lead to growth of adoption of crypto in India + +> I propose to provide that any income from transfer of any virtual digital asset shall be taxed at the rate of 30%. No deduction in respect of any expenditure or allowance shall be allowed while computing such income, except cost of acquisition: FM Nirmala Sitharaman + + +Edit : Some sources are saying capital gains losses is not allowed only for offsetting it with other income sources. But it is still allowed within crypto. Waiting for more clarity on this. + +Edit 2: ~~It seems completely no capital losses.~~ https://www.indiabudget.gov.in/doc/memo.pdf + +Law mentions "aggregate income from crypto transfers" - some seem to think this means crypto losses can be offset among crypto itself. + +> However, no deduction in respect of any expenditure (other than cost of acquisition) or allowance or set off of any loss shall be allowed to the assessee under any provision of the Act while computing income from transfer of such asset + +> Further, no set off of any loss arising from transfer of virtual digital asset shall be allowed against any income computed under any other provision of the Act and such loss shall not be allowed to be carried forward to subsequent assessment years. + + +Edit 3: Most reaction seem to suggest 30% is really harsh. Especially when long term capital gains from stocks is like 10%. 30% will apply for developers and builders too, which will mean they will move to friendly tax jurisdictions rather than remain in India. Seems like a dumb and self defeating policy tbh. + +The law taxes not profits but even transfers. So even simple actions like staking or moving funds or using a smart contract would become taxable. This is insane. Projects that originated in India like Polygon are already moving out, experts say most crypto companies will follow suit as a crypto native company doesn't want to deal with 30% tax for every transaction they make + +Taxation is at 30% of gains if you are investing. If you are earning 100% of your income through crypto (lots of Indian freelancers/developers are, the tax will be at 30% of total income, which is definitely harsh) + +Edit 4: CEX like WazirX and CoinDCX will now automatically report trades to the tax authorities as TDS. This is similar to other TDS tax deducted at source policies. So if you are using them the gov will now automatically find out about your trades. + +While the tax provisions are definitely bad for Indian users, it creates clarity so now some rich guy with a few millions to spare who was interested in crypto, but waiting on the sidelines wondering if it will be totally prohibited or not can start investing as they know its not prohibited but taxed heavily. Could lead to more Indians getting in (i.e. Le india pamp) + + +**TLDR: Govt is taxing all crypto transactions including simple transfers at a flat 30% tax. No capital losses or business expenses allowed. In the same day, govt reduced corporate taxes to lowest in Asia, and offered loan and debt waivers for corporates. Fuel prices are soaring. There is literally nothing in this budget if you are middle class common person. If you run a billion dollar company, well there are few sops in it. Someone earning their income through crypto will get shafted. Massively anti-poor/anti-middle class, pro-elites, pro those who fund this sham government headed by dictator Modi. Honestly, fuck this.. I hope they get routed in the upcoming elections but wont have high hopes as most of the country has been sucked into their hate fuelled religious brand politics** +ALL the brokers are in on this fuckery. They will all fuck around and do what they can without revealing the game, AND THEY HAVE THE MONEY TO DO THIS FOREVER. + +They think they can buy enough time for everything to crash and then burn all the evidence of their fuckery and escape with millions. + +ARE YOU JUST GONNA SIT THERE AND LET IT HAPPEN? + +#FUCK. THAT. + +#DRS YOUR SHARES, ALL OF THEM, OR WE DON'T GET THE MOASS. + +NOTHING else matters besides that. Period, end of fucking discussion. Any opinions in any other direction besides that is either FUD from shills, or it's just you wanting to be FUCKING LAZY. + +HOW CAN YOU BE LAZY ABOUT THIS? HOW?!?!?!? I'm seeing posts from people saying "oh i was a fence sitter" REALLY? + +YOU'RE FENCE SITTING WITH LITERALLY TRILLIONS ON THE TABLE? WHEN EVERYONE WHO IS ACTUALLY ON OUR SIDE HAS BEEN TRYING TO TELL US TO DRS FOR THE BETTER PART OF THE YEAR? + + +I'm sick to death of waiting to start the rest of the shit i wanna do with my life, like buy a fucking house and pay people to make art. + +#GET OFF YOUR ASS AND DRS EVERYTHING. + +Rant over. I mean every word but i had to just get that out of me. + +EDIT: if any of you doubt me, I'm on the phone with Fidelity RIGHT NOW to DRS my IRA shares, and I will make a new post telling you all how it went. I WILL provide proof too, I'm not a piece of dogshit who tells people to do things I won't do. +&#x200B; + +https://preview.redd.it/u0djvrg1pcd91.png?width=1540&format=png&auto=webp&s=b8bf1f4e00d756179ff9f00dd86b69bf6eef7556 + +Good afternoon Reddit community, + +I thought it was time to update my Bank of America thesis. I will be the first to admit that since my first DD I have gotten more than a few things wrong, but the collective community has been great at sharing ideas and correcting things that may not have been accurate. As always nothing I post is financial advice, please be sure to **reference** properly if you are to discuss my post on other forms of media. + +**HYPOTHESIS: The Prime Broker BofA Securities has significant Gamestop Exposure and has put their parent company at risk of a giant short squeeze** + +**BANK OF AMERICA RECAP** + +**What we already know:** + +1. **BofA is the main Prime Broker for Citadel & 1 of 2 for Susquehanna and will be responsible for closing said positions if they cannot close** +2. **BofA had a significant Put position to potentially reset FTD/ use for futures** +3. **No Bank or Hedgefund had more GME-containing ETFs than BofA post squeeze** +4. **BofA's head of client equity solutions left to join Citadel after Jan 2021** +5. **BofA issued a $15 billion dollar bond in April 2021 to raise cash** +6. **Several high-level executives have resigned or have planned to.** +7. **BofA has large security sold not yet purchased position that has grown** + +**HOW WE GOT HERE**When Gamestop was still early in its story (Pre-squeeze), Dr. Burry had sent a letter to the board urging for the purchase of their Common Stock. In this letter, Dr Burry shares this... + +>Notably, as of July 31st, 2019, Bloomberg reports short interest in GameStop stock at 57,226,706 shares – this is about 63% of the 90,268,940 outstanding GameStop shares at last report. We submit that when share prices are at or near all-time lows and more than 60% of the shares are shorted despite cash levels much higher than the current market capitalization, lack of faith in management’s capital allocation is the default conclusion. + +Now for us, you might not care where you get the stock, but you might; if you are a serious enough stock trader you probably do. Bloomberg wrote a [great article](https://www.bloomberg.com/opinion/articles/2018-03-26/merrill-lynch-s-secret-stock-deals) regarding Merril Lynch's broker-dealer business and discussed how they source client shares. Dr. Burry in particular is one of these people who cares how shares are delivered. When he tracked the share buyback of Gamestop shares in the fall of 2019, he for one was smart to monitor where the shares were sourced from. As seen below you can see a large volume of shares came from "MLCO". MLCO is the identifying code for shares sourced by Bank of America Merril Lynch. (shout out to [u/zirdc](https://www.reddit.com/u/zirdc/) for posting this months ago). + +&#x200B; + +https://preview.redd.it/tfyy2xrepcd91.png?width=816&format=png&auto=webp&s=60352d3201500e26957393a22711b467fee7639b + +You can see that Gamestop was extremely shorted prior to the COVID crash. Given that let's imagine every Hedgefund shorting everything into oblivion when we had the correction in March of 2020 (especially retail brick and mortar). In reality, it was a great play, but because Gamestop was in a very unique position of being already heavily shorted and having significant exposure in so many ETFs made it become a stock unicorn. When we include Ryan Cohen's purchases shirking the float even more the game was over. This doesn't even include the millions of retail investors who like the stock. It would be really interesting to see how Ryan Cohen's 9 Million share purchase was filled. (If you want to drop a hint RC that would be cool). Speaking of ETFs.... + +&#x200B; + +**ETFS** + +Now I wanted to take a moment to share some insight regarding ETFs. Now it has long been theorized that institutional shorting via ETF creation and redemption is how Gamestop has continued to be shorted without relying on Gamestop shares to borrow. At times we can see the ETF **XRT (SPDR S&P Retail ETF)** having short exposure of 1000+ %. Shorting through ETFs can be very expensive but is an alternative strategy to drive the price down. I had first mentioned the ETF GME exposure in my Second DD discussing previous positions in **IJR (iShares Core S&P Small-Cap ETF)** , and **IWM (iShares Russell 2000 ETF)** among several large financial institutions. This in theory could be a clue that they are being used for Gamestop locates and shorting. While I will admit that IJR & IWM were ETFs with large Gamestop exposure it does not indicate any suspicious activity. I would like to thank my pal u/turdfurg23 for his continued digging through everything ETF-related. + +Below is a graph of ETF creation and redemption of ETFs from Vanguard, State Street, and Blackrock that contain GME. You can see the following Authorized Participants have used these GME-related ETFs to their advantage: + +* Merril Lynch Professional Clearing Corp +* Citadel Securities LLC +* Virtu Americas LLC +* Goldman Sachs & Co + +https://preview.redd.it/clw3fkcwpcd91.png?width=1185&format=png&auto=webp&s=ba74ba4575114a9171bc8acdbee48c17acf046ea + +I also wanted to look into some less well-known ETFs that contain GME. If we take a quick look at the ETF **"MEME" (Roundhill Meme ETF)**. we see it is the ETF with the greatest concentration of Gamestop. + +https://preview.redd.it/rin1tu6zpcd91.png?width=1124&format=png&auto=webp&s=96bd8f23ab00374b75128370a5c9271a8af8b9fa + +https://preview.redd.it/bd0t0260qcd91.png?width=1846&format=png&auto=webp&s=60ee8ce281545bd1b1a7ed7a473519caba99edf7 + +The only two Authorized Participants that have used ROUNDHILL MEME are Goldman Sachs and Merril-Lynch Processional Clearing Corporation. + +Below is a snippet from [this article](https://www.bloomberg.com/news/articles/2021-02-25/fund-that-lost-80-of-assets-in-gamestop-drama-faces-new-turmoil#xj4y7vzkg). It's not often we have a mainstream news source confirming the ETF redemption process is a method used to source GME shares. + +https://preview.redd.it/p3j69hr2qcd91.png?width=1284&format=png&auto=webp&s=3de852c4c51e51697a6887ae5e0e85127166d74a + +&#x200B; + +**CLOSING OF PART OF THEIR PRIME BROKERAGE UNIT** + +Below is an article I found from an efinanialcareers.com exclusive. If you blinked you might have missed it. Now admittedly I believe this is only part of their Prime Brokerage Business and only the Europe/Middle East/Africa branch but I find it very interesting that they shut down their Institutional custody business. Now admittedly I am not the most knowledgeable person when it comes to this stuff and any insight would be really appreciated. When I dig into what duties those in the custody business they include the following: + +* Securities settlement +* Safekeeping of assets (segregated by sub-account if necessary) +* Dividend and interest collection and payment +* Corporate action processing +* Proxy voting as directed +* Providing tax reporting information +* Cash management + +If their Prime Broker is no longer holding those assets does that mean they are distancing themselves away from total return swaps? To be honest, if someone who has experience in this stuff could chime in that would be great. + +[https:\/\/www.efinancialcareers-canada.com\/news\/2022\/05\/bank-of-america-closing-prime-custody](https://preview.redd.it/v1ep4n48qcd91.png?width=1244&format=png&auto=webp&s=55ec290f6e2267e5f628297468289641ab2c5200) + +**CME FINE FOR NOT POSTING FUTURES MARGIN & PROVIDING ADEQUATE DISCLOSURE** + +Based on the fine BofA Securities recently received it seems that they have likely missed a collateral call with CME and/or failed to maintain their futures margin requirements. It would also seem that they likely have failed to keep a record of their performance bond calls issued. It has been theorized that we see a quarterly wave due to positions being held in futures and the run-ups due to the settling of the change in the underlying position. + +https://preview.redd.it/40aqr8laqcd91.png?width=998&format=png&auto=webp&s=b7c1ca867e04cb4df764cd242e55926087e8c610 + +**INCREASED LENDING TO ASSET MANAGERS** + +I also thought it was worth mentioning the increased lending to Asset managers and funds by Bank of America. Lending to asset managers is the largest sector for commercial credit exposure and there has been an increase in lending every quarter since Q3 of 2020. The percentage of commercial lending has also increased from 9% in Q3 2020 to 16% in Q2 of 2022. While there is nothing wrong with the increased percentage of lending to asset managers I argue that it is less of a function of wanting to lend but having to lend. + +[From BofA's 2022 Q2 earnings report](https://preview.redd.it/g2pur8ccqcd91.png?width=1796&format=png&auto=webp&s=e4578ee5cec8aec249ed7df5a55b5a0e409cffc6) + +I argue that the idea of being collateral called isn't as much of an issue if the prime broker that is exposed is at risk due to the positions. To my knowledge, Credit Suisse is still famously sitting on 3% of Archegos positions. Hypothetically if forcing the closure of positions would put you at risk, why force the closure? I also found these interesting pieces of writing in the FOMC minutes for their January 26th & June 3rd meetings. These statements are in line with the theory of increased leverage among Hedge funds/Market markers. + +[page 14 of Jan 26th 2022 FOMC minutes https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/fomcminutes20220126.pdf](https://preview.redd.it/62agevydqcd91.png?width=800&format=png&auto=webp&s=e92de64cd331065c880e8344333042b09e0a6b1a) + +[page 5 of June 3rd 2022 FOMC minutes https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/fomcminutes20220504.pdf](https://preview.redd.it/pbboletfqcd91.png?width=682&format=png&auto=webp&s=36dbfcc0b91832879b8efd7f985692c4821b7747) + +**CONCLUSION** +Based on the previous DDs that I have written and the evidence provided above I believe that Bank of America has exposure to Gamestop short positions (Directly and as a PrimeBroker). I don't exactly know when or if (here's hoping) it will ever be realized but I will admit I don't think I would want to be their CEO Brian Moynihan right now. + +Thanks for reading. + +**PREVIOUS DD** + +[Bank of America Quarterly Update. Morgan Stanley has entered the chat](https://www.reddit.com/r/Superstonk/comments/qm9tnr/bank_of_america_quarterly_update_morgan_stanley/) + +[The Bank of America and Gamestop DD update. Swimming in Puts, ETFs, and the new NSFR rules](https://www.reddit.com/r/Superstonk/comments/onrzz9/the_bank_of_america_and_gamestop_dd_update/) + +[The Complete Bank of America Gamestop DD](https://www.reddit.com/r/Superstonk/comments/nsioql/the_complete_bank_of_america_gamestop_dd/) + +[Popcorn stock Delayed Memestock Endgame With Their June Share Offering.](https://www.reddit.com/user/gfountyyc/comments/p3eo1f/popcorn_stock_delayed_memestock_endgame_with/) +*This piece will be posted at 4:20 pm NYSE time every trading day!* + +https://preview.redd.it/8bmx62eaav271.png?width=1426&format=png&auto=webp&s=c86141d7bacf2b5eeab67f5b4801f460a3136b97 + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +# 🎤🎸🥁 🦍Welcome to the Jungle🦍🥁🎸🎤 + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +# $GME Closing Price: $282.36 + +&#x200B; + +Open Price: $248.50 + +Daily High: $294.00 + +Daily Low: $244.30 + +Volume: 15.73 MM + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +# GME 101 + +&#x200B; + +*If you're new to Superstonk, start here!* + +&#x200B; + +https://preview.redd.it/fooxldqxqw271.jpg?width=700&format=pjpg&auto=webp&s=aa43214ca581df77fcdb42d127ebf5fdf845bb11 + +[Superstonk FAQ](https://www.reddit.com/r/Superstonk/wiki/index/faq#wiki_how_do_i.2C_as_a_retail_investor.2C_stand_a_chance_against_the_hedge_funds.3F) + +[Superstonk Wiki](https://www.reddit.com/r/Superstonk/wiki/index) + +[The Everything Short](https://www.reddit.com/r/GME/comments/mgucv2/the_everything_short/) + +[House of Cards I, II & III in PDF format](https://www.reddit.com/r/Superstonk/comments/nm83eb/a_house_of_cards_parts_i_ii_iii_in_pdf/) + +&#x200B; + +*More DD to be added as we develop this section! This will be a daily recurring section that will serve as a go to reference for new apes!* + +&#x200B; + +Also, as you probably know, [u/Atobitt](https://www.reddit.com/u/Atobitt/) has dropped HOC II&III. Pretty sure it crashed reddit when it dropped!! This piece was peer reviewed by such prominent experts as Wes Christian, Dave Lauer and mods as well. The apes of Superstonk sincerely appreciate the time and effort put into getting this information out there. 🦍🤝💪\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +# Lucy Komisar and Wes Christian AMA TODAY! + +&#x200B; + +**Today we are welcoming back Lucy Komisar, this time as a special guest host for fellow AMA veteran, Wes Christian!** + +The topics of discussion are going to be Naked Short Selling and Death Spiral Financing on a broad, market-wide scale. + +# [Tune in today at 4:30 pm Eastern on Superstonk Live YouTube!](https://youtu.be/q8-JO3g5bm4) + +&#x200B; + +[Lucy Komisar](https://preview.redd.it/fk2n71sgkv271.png?width=1542&format=png&auto=webp&s=3a8739feeea3038cccd730f6107029d6c80ed34a) + +&#x200B; + +[Wes Christian](https://preview.redd.it/zq89876ikv271.png?width=170&format=png&auto=webp&s=148504fe31ff5bd6f656c106d749321bc16b02a6) + +&#x200B; + +Just a friendly reminder also, that Dr. Trimbath has taken a raincheck on the June 8 AMA with Atobitt. Updates on that to come soon! + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +# Goldman Sachs & Co fail to reconstruct AT LEAST 10% of computerized trade data between December 2nd 2020 and January 29th 2021 + +*written by* u/Atobitt + +[Link to OP](https://www.reddit.com/r/Superstonk/comments/nqmz4u/breaking_goldman_sachs_co_fail_to_reconstruct_at/) + + + +So I was doing my morning walkthrough of new FINRA violations and caught this BEAUTY for [Goldman Sachs & Co LLC](https://files.brokercheck.finra.org/firm/firm_361.pdf) + +. Anyone else recognize the significances of that date range? It's the SAME timeframe that USS GME was prepping for liftoff. + +Don't trust a F\*CKING THING these ass clowns tell you. The data you see is whatever they WANT you to see. + +&#x200B; + +https://preview.redd.it/st6adciybw271.png?width=1017&format=png&auto=webp&s=b415b123f27254b95d773dd00c986383559e5262 + +[Source\^](https://files.brokercheck.finra.org/firm/firm_361.pdf) + + No one knows what data was unavailable to reconstruct the trade, but here's a simplified [list of requirements](https://www.bobsguide.com/articles/trade-reconstruction-a-growing-pain-point-for-firms/) + +&#x200B; + +https://preview.redd.it/famj1i83cw271.png?width=1039&format=png&auto=webp&s=8e1ae4ffcf6f46c8fad6207cc8aeba9ad3019fab + +The data is coming out, apes. Their f\*ckery continues. + +&#x200B; + +**DIAMOND.F\*CKING.HANDS** + +&#x200B; + +Back to u/pinkcatsonacid 🐈🦄 + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +# DFV Tweets + +^(ohmygodilovehavingtweetstodiscussagainholycrapweloveyoudfvwelcomebackplsnoticemesenpai) + +&#x200B; + +https://preview.redd.it/19yqxcuiaw271.jpg?width=1077&format=pjpg&auto=webp&s=601fafcc6246c69c49822f6b8cd890f78c58432b + +[Link to tweet](https://twitter.com/TheRoaringKitty/status/1400089824015626240?s=20) \^ + +&#x200B; + +https://preview.redd.it/w15qqrgiaw271.jpg?width=1080&format=pjpg&auto=webp&s=38a42eb8ace3490cac7d919cf4229ddcc9d04d3d + +[Link to tweet \^](https://twitter.com/TheRoaringKitty/status/1400112472414199809?s=20) + +&#x200B; + +https://preview.redd.it/bzcpmbfhaw271.jpg?width=994&format=pjpg&auto=webp&s=b3086244cf2fa623193c4d878a2e27ca3cc8f349 + +[Link to tweet \^](https://twitter.com/TheRoaringKitty/status/1400124740291923968?s=20) + +&#x200B; + +https://preview.redd.it/1uf3pcxfaw271.jpg?width=953&format=pjpg&auto=webp&s=c72a74829756b2af5b774fe5de97691d376ec41a + +[Link to tweet \^](https://twitter.com/TheRoaringKitty/status/1400135118723891208?s=20) + +&#x200B; + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +# Community Spotlight-u/Bombxing and the Mulligan Bros + +# ____ + +# u/Bombxing AKA the OG Tendieman and Sea Shanty KING + +&#x200B; + +[**EVERYONE knows the legend of the Tendieman**](https://www.reddit.com/r/wallstreetbets/comments/l0dfrp/the_tendieman_lyrics_and_video_by_uquigonshin/?utm_source=share&utm_medium=web2x&context=3)**.** + +&#x200B; + +&#x200B; + +[Soon may the Tendieman come](https://preview.redd.it/080jwqcqcw271.jpg?width=2400&format=pjpg&auto=webp&s=83e164889935a82ec7490998760464663d091387) + +&#x200B; + +Well, u/Bombxing is the man behind that legend. And he just keeps putting out battle bangers. I seriously get flashbacks when I listen to [Fat Dip](https://www.reddit.com/r/wallstreetbets/comments/lsrbw6/fat_dip_wsb_cover_song/?utm_source=share&utm_medium=web2x&context=3) and [My Mother Told Me](https://www.reddit.com/r/GME/comments/m38fkc/my_mother_told_me_wsb_cover_song_for_the/?utm_source=share&utm_medium=web2x&context=3) (my opening bell song for WEEKS in the red!!)... I can smell the tendies of yore when I hear his voice. How does January and WSB seem like eons ago?? We are battle worn and more diamond handed than ever, thanks to the artists like him providing us with a beat by which to march 🥁 + +&#x200B; + +His new song,[ Hold Her, Monke](https://www.reddit.com/r/WSBrecords/comments/nox00e/leave_her_johnny_gme_cover_hold_her_monke/?utm_source=share&utm_medium=web2x&context=3) + +&#x200B; + +Another one of my faves: [Bones in the Ocean](https://www.reddit.com/r/GME/comments/liu17f/another_gme_sea_shanty_bones_in_the_ocean_cover/?utm_source=share&utm_medium=web2x&context=3) + +&#x200B; + +He has lots of others so check them out! + +# ______ + +# Meet Finley and Quinn Mulligan- The brothers behind the Apes Together Strong Documentary + +&#x200B; + +*The one told by apes, for apes.* + +&#x200B; + + [This is pasted from the OP by](https://www.reddit.com/r/Superstonk/comments/n9x3qw/documentary_update_its_all_about_the_apes/?utm_source=share&utm_medium=web2x&context=3) [u/albanak](https://www.reddit.com/u/albanak/) + +&#x200B; + +🦧🦍🦧🦍🦧🦍🦧🦍🦧🦍🦧🦍🦧🦍-- **INTRO** \-- 🦍🦧🦍🦧🦍🦧🦍🦧🦍🦧🦍🦧🦍🦧 + +My name is Finley Mulligan ([u/albanak](https://www.reddit.com/u/albanak/)), my brother is Quinn Mulligan ([u/cyclopsQHM](https://www.reddit.com/u/cyclopsQHM/)). We are apes. + +We've been hodling since early Jan, joined the exodus to [r/GME](https://www.reddit.com/r/GME/) and eventually migrated with the first wave of settlers at [r/superstonk](https://www.reddit.com/r/superstonk/) — we are not outsiders, we want to make sure this story is told right and from within. + +&#x200B; + +[u\/albanak aka Finley](https://preview.redd.it/vm6x4md96w271.png?width=3262&format=png&auto=webp&s=cb54aecc81357f508968ea2ae2790f5f7ce522a0) + +&#x200B; + +[ u\/cyclopsQHM aka Quinn](https://preview.redd.it/8ujnczya6w271.png?width=3286&format=png&auto=webp&s=7c9c8c048a298a525e0a8e18afdd978adb9001eb) + +&#x200B; + +🦧🦍🦧🦍🦧🦍🦧🦍🦧🦍🦧🦍-- **BACKGROUND** \-- 🦍🦧🦍🦧🦍🦧🦍🦧🦍🦧🦍🦧🦍 + +&#x200B; + +We got sick of seeing "retail" investors being portrayed like shit by the mainstream media. + +We couldn't stand seeing the narrative build that the current untenable state of our markets is somehow *our fault* — meanwhile, everyone turns a blind eye to the corruption, illegal practices, and blatant manipulation being practiced by the "institutions" lining the pockets of the asshats condemning us. + +Then the hulu doc came out and we kind of hit a limit. SO. I posted a simple question — "**Who wants a REAL documentary about what's happening with the squeeze**?" and the response was overwhelmingly positive — you had some key points of guidance: + +* The story isn't done 'til the squeeze has squozen +* Ask the questions no one's asking (naked short selling, FTDs, etc) +* Make sure to features the community as much as possible +* Tell the truth even if the truth hurts +* Fuck off, we just like the stock (fair enough) + +[**We took those tenets to heart and posted THIS**](https://www.reddit.com/r/GME/comments/mgoo4a/update_question_who_wants_a_real_documentary/)**.** + +This story isn't finished. + +It feels like a war of attrition at times but with new rules, SEC head, and the simple fact that time is on our side we believe that we will soon see an end to this saga. + +This last act is still unfolding and we won’t be telling an unfinished story — apes are very clear that this film shouldn’t finish until the squeeze has squozen and we want to respect that. + +We’ll be including the community throughout the creation of the film. Offering to show rough cuts, consulting when we’re stuck or need fresh eyes. We believe very much that community engagement is vital to being able to call this a film for apes by apes. + +If you'd like to follow along you can join our mailing list at [apestogetherstrongdoc.com](https://apestogetherstrongdoc.com/) + +or our twitter @ apestogetherdoc + +Please hit us up at [info@apestogetherstrongdoc.com](mailto:info@apestogetherstrongdoc.com) or tag [u/albanak](https://www.reddit.com/u/albanak/) in any post you think is worth calling attention to! Special thanks to [u/not\_ya-wify](https://www.reddit.com/u/not_ya-wify/) who's been super awesome doing this. + +This film is for you all, we'll answer any questions you have. + +**APES. TOGETHER. STRONG.** + +🦧🦍🦧🦍🦧🦍🦧🦍🦧🦍🦧🦍🦧🦍🦧🦍🦧🦍🦧🦍🦧🦍🦧🦍🦧🦍🦧🦍🦧🦍🦧🦍🦧🦍🦧🦍 + +[**Read the full story about the Mulligan brothers and their awesome documentary here**](https://www.reddit.com/r/Superstonk/comments/n9x3qw/documentary_update_its_all_about_the_apes/?utm_source=share&utm_medium=web2x&context=3)**.** + +***From Pink Cat-*** *Please note that neither Superstonk, nor Superstonk Live YouTube are affiliated with the production (or any resulting profit) of this film. We just think it's cool as shit that they're telling the story from apes' perspective and wanted to share with you guys :)* + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +# Safe and Sound with Team SATORI + +&#x200B; + +*written by SATORI dev,* u/grungromp + +&#x200B; + +Hey everyone! u/Grungromp of Team Satori with a security suggestion for the day! + +&#x200B; + +We've had a LOT of people reaching out with suggestions and things they've been noticing, and one comment from a cyber security pro in particular felt important to pass out to the sub. + +&#x200B; + +We've been seeing small Reddit crashes and issues with access to the service and sub lately, and under normal circumstances they aren't anything to be incredibly concerned about. But we live in extraordinary circumstances, and caution is warranted. + +&#x200B; + +Any one of these crashes could be due to any number of reasons, but there is always a chance data has leaked in some way. With that in mind, password rotation is a fantastic idea! There's no need to panic right now, but if Reddit starts behaving weird, rotate your security, just in case. Better safe than sorry! + +&#x200B; + +**Buy. Hold. Vote. Fight.** + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +# MODel Behaviour + +&#x200B; + +*written by* u/Bradduck_Flyntmoore + +&#x200B; + +Howdy apes! u/Bradduck_Flyntmoore here! How about that price action today, amirite?! Your Ape-bassador comes to you with a request from the Mod Team. Now that our beloved psychic monkey bot has been released into the jungle, things have obviously changed. It's obvious in new. It's obvious in hot. It's even obvious when you sort by controversial comments (one of my faves, btw ). HOWEVER, one of the things that still needs some attention is the number of posts of mass-shared content. + +&#x200B; + +We all know the stuff. Take 27 DFV posts per tweet, of the same tweet, or link to the tweet, or the tweet of the link of the tweet, for example. Or when eToro allowed voting; goodness, I must have spammed 100 duplicates of essentially the same thing every hour for three hours straight. Ngl, it was NUTS lol. Don't get me wrong, I, too, have posted things that I JUST found out about, only to find out five minutes later that I, in fact, was late to the party. It do be like that sometimes. We are all apes, and apes are, by their very nature, thrilled to share good news and exciting new information with their fellows. That being said, please don't be too upset if a fellow ape says something about your post already being posted. It's not a competition to see who can get there first. Remember when reporting or letting an ape know their content has already been posted, to be excellent to each other. This is, after all, the way. + +&#x200B; + +It is to this end that the Mod Team is making a formal request. Help us, help you. Weekend FUD patrol and The Knights of New are totally killing it, but the mass-shared content goes under-reported. It's a fact, and I think it has become easier to see, what with the SATORI hush that has fallen over this special little sub. + +&#x200B; + +I'd also like to take a moment to say how impressed I am with some of the behaviour I've seen in comments lately. Shit-talking is being countered with patience, humor, logic, and kindness. Lies are being called out with a sense of calm confidence. Scare tactics and outright aggressiveness is being met with chill and zen and dismissiveness. It's enough to make an Ape-bassador cry. Truly. + +&#x200B; + +sniffle Alright! So. Recap. Y'all are awesome. The love in here is really shining through, and Mods would REALLY appreciate if apes could start addressing the mass-shared content within the community. Report it. Let the OP know it's already been posted. SATORI can only do so much, and the content that flows on this sub is ultimately in our individual, collective hands. That's right, diamond fucking hands. + +&#x200B; + +Power to the Player 🚀🌙 + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +# VOTE! by [u/Bye\_Triangle](https://www.reddit.com/u/Bye_Triangle/) + +&#x200B; + +[awesome artwork by u\/Bye\_Triangle](https://preview.redd.it/wvycwss07w271.png?width=1000&format=png&auto=webp&s=7c88663128048a377bdbedc91909b2165c5d6885) + +Again, and again, until the voting is over-- we will be back here reminding everyone of its importance. All of this DD, all of this guidance from experts, all of this attention on this naked short-selling issue... will be for nothing, if we don't vote our shares.We must vote our shares to show everyone how prolific this issue is. This isn't just a matter of corporate governance, this is about proving to everyone that our investment is being crushed by greedy naked short sellers dumping, potentially, millions and millions of "Phantom Shares" into the market. This isn't anything new, as all our AMA guests have said, this problem has been going on for decades in some form or fashion... But this time, the new variable is us.By participating in the vote you are ensuring that every last share that the shorts have fabricated and sold to us is counted. Once their actions see the light of day, in the form of the vote count, this will be the beginning of the end...There is no way out for them as long as we all vote our shares. Anyone who tells you otherwise is wrong or doesn't fully grasp the situation.And to those of you who are told by your brokers that you aren't able to vote... make noise, tell them you demand your rights... If you own shares in a company, it is YOUR RIGHT to vote on that companies decisions.**There is proof that this works, as we are receiving news that** [**Etoro**](https://www.reddit.com/r/Superstonk/comments/nmtq9s/we_did_it/)**,** [**Tiger**](https://www.reddit.com/r/Superstonk/comments/nmt6lw/not_sure_if_posted_before_but_fyi_singaporean/?utm_medium=android_app&utm_source=share) **and** [**FUTU**](https://www.reddit.com/r/Superstonk/comments/nmvme5/hong_kong_apesss_using_futu_can_finally_vote/) **are now being made able to vote... So don't give up, if you had shares in time for the record date, then it is your right, do not take it lightly that they are trying to strip that from you.**[The other half of Sweden is joining the battle! Nordnet have decided to follow Avanza's footsteps and register all GME customers in a broker non-vote! Including all customers in the other Nordic countries!](https://www.reddit.com/r/Superstonk/comments/nn50ye/the_other_half_of_sweden_is_joining_the_battle/) + +[**Also, be sure to read this piece by**](https://www.reddit.com/r/Superstonk/comments/nlpz4h/your_votes_are_important_the_time_to_vote_is_now/) [**u/Nauaf**](https://www.reddit.com/u/Nauaf/) [**on how to vote your shares!**](https://www.reddit.com/r/Superstonk/comments/nlpz4h/your_votes_are_important_the_time_to_vote_is_now/)**Comment ! apevote ! (without spaces) to receive your custom voted flair!** + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +# 🎉HYPE WEEK🎉 + +&#x200B; + +**Monday**\- NYSE Closed for Memorial Day + +&#x200B; + +**Tuesday**\- DFV TWEETED- THE KING IS BACK!!! + +&#x200B; + +**Wednesday**\- [Lucy Komisar and Wes Christian AMA](https://www.youtube.com/c/Superstonk/featured) at 4:30 PM Eastern! + +&#x200B; + +**Thursday**\- [SEC Closed door Sunshine Act Meeting](https://www.sec.gov/news/upcoming-events/closed-meeting-060321) at 3:15 PM Eastern + +&#x200B; + +**Friday**\- Take your protein pill and put your helmet on. + +&#x200B; + +There is electricity in the air this week as many apes have pointed out! It is important that this hype train keep on rolling, and that the steady drumbeat, keeps on beating. As long as you know that there is always more to be hyped about on the horizon, disappointment cannot catch-up. So with that in mind, allow yourself to feel the hype, but remember that if it doesn't happen this week...We ain't going anywhere, it just means we get another week out in the jungle, screamin' with the apes. ***OOK OOK*** + +&#x200B; + +Just remember, we got this far cause we do our research and we trust our findings. Armed with data there should be nothing that can kill the vibe. In the words of Dr. Burry: + +&#x200B; + +***"I may have been early, but I am not wrong"*** *(This quote has never rang more true)* + +&#x200B; + +https://preview.redd.it/5a91ehfg4w271.png?width=1600&format=png&auto=webp&s=c9ac5d245d1a146fe7804de500c5f73d01c21c82 +I'm doing my life to do list. +I've divided it into 4 parts: Monetary, Personal, Travel and Experiences. + +In my list experiences are things like driving an F4 car, do skidiving, visit a Six Flag, Eat in a 3 star Michelin, Bunjee Jumpin, Try a Yatch Trip, Use a private jet, Tour on a Hot Air Baloon. + +I'm looking for some more inspiration. + +What are the best Experiences you have ever done? And what are the ones on your to do list? +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! + + + +* Pfizer said its Covid-19 pill, used with an HIV drug, cut the risk of hospitalization or death by 89% in high-risk adults who’ve been exposed to the virus. +* It’s now the second antiviral pill behind Merck’s to demonstrate strong effectiveness for treating Covid at the first sign of illness. +* Pfizer said it plans to submit its data to the Food and Drug Administration “as soon as possible.”  +* [https://www.cnbc.com/2021/11/05/pfizer-says-its-covid-pill-with-hiv-drug-cuts-the-risk-of-hospitalization-or-death-by-89percent.html](https://www.cnbc.com/2021/11/05/pfizer-says-its-covid-pill-with-hiv-drug-cuts-the-risk-of-hospitalization-or-death-by-89percent.html) +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 find it really interesting how many people are choosing where to live based on what appear to me to be inconveniences that can be largely solved by moving to another neighborhood or adjacent town. + +Or the number of people who are done with HCOL metro areas and seem to want to move to smaller cities they know very little about. + +I’ve pretty always much chosen where to live based on the following things: + +1. High-paying job opportunities +2. Proximity to family and friends +3. Proximity to my professional, undergrad, and grad school network + +Which for us basically means choosing between the largest 5-7 cities in the US. + +But for those deciding to move to smaller cities where you have no family, friends, or network, are those things a factor at all? I’m trying to reconcile all these posts I’m seeing on fatFIRE (where presumably people can afford to live in wherever they want) with pretty much every single friend / close colleague of mine, all of whom seem to choose where to live based on job opportunities and/or proximity to friends/family and, as far as I could tell, would never move somewhere where they didn’t have one or more or those things. + +EDIT: As an example, I count four of these kinds of threads posted in the last 18 hours. +Facebook claims 200 million people use Instagram Stories every day + +That places it ahead of Snapchat, which reported 161 million DAUs ahead of its February IPO + + +Instagram Stories launched last August +http://www.cnbc.com/2017/04/13/facebook-instagram-stories-more-popular-than-snapchat.html +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! + +Now I have a yeast infection, kidney infection, and a bad fever. No health insurance, and the clinics within a three hour drive can’t take walk ins due to COVID. + +So I’m crying at work. I fucking hate being poor. + +Update: I found an online pharmacy that will give me antibiotics for $65 including the telehealth visit and I can pick them up at a pharmacy after work. My friend is loaning me the money. Thanks to those of you that provided good advice! + +UPDATE/ I don’t think anyone will see this but the anyibiotics didn’t help and I’m in the hospital. Sepsis, early stages they said? Wish me luck +Just like the title says: Why would one not start building a portfolio for growth and then when income from dividend stocks is needed switch the portfolio from growth to dividend stocks and live off the dividends? +As we start seeing Mass Effects (Oops, \*moass\* my bad) from meme stocks and idiosyncratic risks, keep this in mind: + +[Comment in VV S Bee AMA with Mark Cuban \(\\"Hey everyone, Its Mark Cuban. Jumping on to do an AMA.... so Ask Me Anything\\"\)](https://preview.redd.it/13gukq3e04191.png?width=2156&format=png&auto=webp&s=2cd22564bf491f37f42449f17213535e2eba7746) + +# Has anything changed? + +1. Payment For Order Flow (PFOF)? Still here. +2. Synthetic / Counterfeit shares in our market? Still there. +3. Dark pools? Check. +4. Swaps? Still unreported until 2023. +5. Transparent markets? Nope. +6. Legit price discovery in our markets? Nope. + +After the 2008 Financial Crisis \[[Wikipedia](https://en.wikipedia.org/wiki/Financial_crisis_of_2007–2008)\], **one** guy went to jail in the US. Kareem Serageldin \[[Wikipedia](https://en.wikipedia.org/wiki/Kareem_Serageldin), [NYT](https://www.nytimes.com/2014/05/04/magazine/only-one-top-banker-jail-financial-crisis.html)\] for mismarking prices. As a result, the **prices are** ***still*** **fake**. + +With Kevin O'Leary \[[Wikipedia](https://en.wikipedia.org/wiki/Kevin_O%27Leary)\] recently mentioning how a [big institution needs to be sacrificed sometime in the next 10-20 days](https://www.reddit.com/r/Superstonk/comments/uurzhq/well_there_it_is_moass_in_1020_days/), will there be real change? Kareem was sacrificed for the 2008 Financial Crisis, who will be sacrificed this time? [Bill Hwang](https://en.wikipedia.org/wiki/Bill_Hwang)? [Archegos Capital](https://en.wikipedia.org/wiki/Archegos_Capital_Management)? Melvin Capital? Credit Suisse? Citadel? + +This certainly doesn't seem to affect Gabe much. According to Kenneth C. Griffin ("Kenny"), pension plans of teachers are going to take the fall; not Gabe Plotkin. + +>"Great, you basically helped wipe out the **pension plans of teachers**. Do you feel good about that? **It's not Gabe's money** you're taking down, you're taking down the **money from a pension plan from a teacher**." +> +>[Kenny Destroying Teacher Pensions and Blaming Apes](https://www.reddit.com/r/Superstonk/comments/utlh7m/kenny_destroying_teacher_pensions_and_blaming_apes/) \[[Sauce Video](https://www.reddit.com/r/Superstonk/comments/ut71as/ken_takes_zero_accountability_again_puts_all_the/)\] + +Will just some hedge funds going bankrupt be enough to bring about change? Probably not. Systemic change requires a much bigger upheaval. + +Remember the [SEC GME REPORT: Shorts didn't cover & DTCC/NSCC are responsible](https://www.reddit.com/r/Superstonk/comments/qax0tj/sec_gme_report_shorts_didnt_cover_dtccnscc_are/). + +# What to expect when you're expecting MOASS? + +I (and many others on SuperStonk) have been predicting what would happen with MOASS on the horizon. \[[Things to Watch For During MOASS](https://www.reddit.com/r/Superstonk/comments/p8y046/things_to_watch_for_during_moass/)\] + +**Trading halts:** Retail apes can't sell during a halt, and those naked shorts need to buy shares to close their naked position. + +**Fake squeezes:** Expect a roller coaster ride. + +**Fake prices:** Without any systemic changes, the **prices are** ***still*** **fake!** Until there's change, the LAST price reported on the ticker tape is not a real price! The price is *quite* *literally* whatever the market makers want us to see. + +>"There's an understanding that many dynamics of how humans behave can be, in a sense, taken advantage of by technology. **If we know how humans behave and we can predict that, we can use that to better position our portfolios**. And a number of quantitative strategies rely on upon human biases and behavior to be successful. So as we understand this, look at the recent Nobel Prize in behavioral economics. As we understand this, we will use computers in new and innovative ways to **better drive the pricing of assets in financial markets**." +> +>\-Kenneth C. Griffin \[[Video on SuperStonk post](https://www.reddit.com/r/Superstonk/comments/um4abk/they_are_blaming_retail_because_we_are_not_doing/)\] + +Look carefully at Kenny's words: "we will use computers ... to **better drive the pricing of assets** in financial markets". His literal words are they will use computers to **drive the pricing of assets**. That's not price discovery. Kenny's bragging about how they use algos to **CONTROL PRICES** to better position their portfolios! + +# MOASS isn't real until there is real Price Discovery + +🦧🔥🚀🌝 + +Edit 1: oops, missed the Wikipedia link for Kevin O'Leary. +Just found out I’m getting $100-110k inheritance. + +My situation- 30F, 2 young children. Single. +Renting. Less than $10k in savings. +Would like to buy a home (roughly $400k for what I want) asap. Will be a first home buyer. Eligible for the 2% deposit scheme. +Earning $63k a year. + +Would a home be the best choice for me? +Or something else? + +I want to be smart with this. +Thanks! + + +Did you buy some Chainlink during the bear market? If you didn’t you missed out on **absolutely insane gains** as it went from a market cap of $70 million in June 2018 to $10 *billion* currently. + +The reason for these massive gains was because of the increasing need to find real world utility out of blockchain technology. The space simply can’t grow without being able to utilize all of the ledger data for external applications that we can easily access. + +Chainlink quickly became one of the most important coins in crypto because through their oracles because they filled a **demand that is only going to grow as we move through mass adoption.** + +Band Protocol quickly follows up behind with a $265M market cap as their closest competitor, offering the same services, but utilizing randomness as a core component of the protocol. Oraichain, $40M market cap, focuses on AI APIs. + +**If you, like me, are an ape who doesn’t understand what any of that means, I’m here to tell you it doesn’t matter.** + +The point is, you have a bunch of competing companies giving out different data from the same exact sources. This means you’ll have a bunch of companies choosing each Oracle service to suit their specific needs. **But this also means you’ll have a bunch of companies with no idea which one works for them or even why.** + +*Enter Decentralized Oracle, $DEOR.* + +If each of these oracle services are like a different film critic, then this is Rotten Tomatoes, you know, the only thing people actually use. Or think of it like Metacritic, as it aggregates the data from each of these independent oracle providers and brings you consensus results. + +**For your average company that just wants the data and doesn’t want to spend weeks choosing their provider, this service is an absolute godsend.** And with all this old money still running everything, believe me, they’re gonna want the simplest solutions cause they can barely grasp blockchain tech. + +Best of all, **it doesn’t even need to compete against oracles.** Instead, it works with them and, once they realize this service is important to their credibility, they’ll be lining up to join. You think Roeper and Ebert thought people would start only going to their site through aggregators like RT and Metacritic? Nope, but they’d be stupid not to use them now that they’re here. + +**Right now we’re looking at a circulating supply of about 25M, so at a price of $.30 a pop, about a $7M market cap.** That is absolute *peanuts* in a bull market for a token with an actual product backing it with **first movers advantage**. Seriously, look around. No competitors for this. This is an obvious need and they’re going to eat this market alive. + +Don’t be surprised if Decentralized Oracle ends up **bigger than your favorite LINK killer.** Instead, pick some up now so that you can be smiling next year about how early you got on such an essential product. + +Coingecko: [https://www.coingecko.com/en/coins/decentralized-oracle](https://www.coingecko.com/en/coins/decentralized-oracle) + +Uniswap :[ ](https://uniswap.exchange/swap?inputCurrency=0x79126d32a86e6663f3aaac4527732d0701c1ae6c)[https://uniswap.exchange/swap?inputCurrency=](https://uniswap.exchange/swap?inputCurrency=0x63726dae7c57d25e90ec829ce9a5c745ffd984d3)0x63726dae7c57d25e90ec829ce9a5c745ffd984d3 + +Website: [https://www.deor.io/](https://www.deor.io/) + +Twitter: [https://twitter.com/deor\_io](https://twitter.com/deor_io) + +Medium:[ ](https://darkmattertoken.medium.com/)[https://deor.medium.com/](https://deor.medium.com/) + +Telegram:[ ](https://t.me/darkmattertoken)[https://t.me/DecentralizedOracle](https://t.me/DecentralizedOracle) + +Github: [https://github.com/computercybersecurity/DecentralizedOracle](https://github.com/computercybersecurity/DecentralizedOracle) +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). +The post below is taken from forex factory back on Feb 2, 2007 ([you can view the original post here](https://www.forexfactory.com/thread/post/205799#post205799)). Even though it was posted a long time ago, the harsh truth in this post is still relevant to this day. To everyone who wants to learn to trade seriously, please take time to read this (especially for newcomers), as it will prepare you for the road ahead and adjust your expectations in trading. + +\------- + +**Can this forum handle some truth?** Note: this is not a negative post. + +I've been trading for a living for many years. Using robust methods that have worked for decades, and I trust will continue for more decades. I've had good years and slow years, while very successful over the long haul, thought I better tell those who think that trading can replace their job have the better odds winning the Powerball. Really! There are hundreds more who have won big in the Powerball than actually earn their money from private trading. + +Thinking otherwise is denying reality and the facts. It is easy to ignore because the facts about trading are difficult to dig out, and only the determined care to find out anything or succeed at anything worthwhile. + +After reading many posts in these threads, I decided I had to weigh in on a couple of things. I would have to agree with -Isotonic- that a very small subset of posters are actually trading for a living. + +Most of my friends are traders, many of whom I helped bring into the winning fraternity. We all have to keep on our game every day, 100% , or some mistake could eradicate months or years of progress. + +"Making a living" is very much a similar question as of what "is" is. + +All of the professional traders I know, whether they trade forex or futures markets, do not make "so much per day". That is a phrase used by marketers, because they know what beginners are looking for, and that is a steady income so they can get rid of their jobs. Money from the market that you can count on does not come steady or nicely "so much per day". Real traders make profits, budget their expenses, save some profits, add some profits to their accounts for further building of the account, etc. Just like any business, which is what real trading is. + +Most of the trading setups that you see bandied about are "tricks". Most "tricks" have small edges, and trading them continually teaches little about the big picture, and the big picture is where the big money is made. When a marketer is trying to separate you from your money, he is likely promoting a "trick". + +Nothing wrong with trading these "tricks", if you know that they have a strong, provable edge. But, to know that a "trick" has a definable edge, you already have to have an underlying construct or context to compare and/or use that edge. + +Almost like the chicken and the egg. To know something has an edge you have to know what an edge is. + +Quickly, name all your friends who have that going for them. A couple of great trades, or a month of great trades, or a year of great trades is nowhere near enough. To make 50 thousand-plus trades and be ahead, to be able to survive years of changing markets, politicians, governments, wives, ex-wives, good health, bad health--- while trading profitably is what you need from an edge. + +Private, profitable traders (those who've done the above) can tell you their edge immediately, and can prove it. **Unfortunately, this set of traders is very small, estimated a few years ago by a research company at less than 800 in America--- and most of you reading this will never among them.** And that is not a bad thing. That doesn't mean that you won't make money from your trading. You might even have more richness in your life by doing something else than trade. + +**I will tell the only way a trader is able to make $1,000,000 from trading.** + +Here's an example of 10 thousand trades. Of these trades, you might lose on 6000 of them for small losses, win on 3800 of them for moderate profits, and win fairly big on 200 of them. You make your million from this series of trades by losing only $9 million on your total of losing trades while making $10 million dollars on your total of profitable trades. This means averaging $50 a trade per lot or contract (in the case of futures), which is really good after expenses. Very doable with robust methods. And, you have to stay on your game or you won't do this well. + +But this is nothing like you've been promised by the "gurus" and promoters of the "money per day" foolishness. + +Trading for a living is demanding mistress. Read on if you can stand it. + +99% of my success has come from trading and working breakouts. Primarily larger breakouts. Why? They work! + +When you learn that breakouts "work" as a trading concept, over the years you continually seek the best breakouts like seasoned surfers all continually seek the best waves. The best breakouts use and highly reward your acquired skills better than lesser ones. Then you stay trading in the zone where the greatest edge is and trade the best breakouts and ignore less useful ones. + +For, example, I know that the Vegas material (I have no personal connection with him whatsoever) dealing with the **one hour tunnel** has a firm statistical edge. A rock-solid statistical edge. + +But it takes a professional to trade it. And the method's breakouts are small in expectation relative to others available. But, as in most tradeoff situations, there are more of them. + +I wouldn't have any problem encouraging someone to follow the concept for trading. But, I would be willing to bet that less than 1 percent of the people who have downloaded his material are trading it, and probably an equally small percentage of them will profit long term from trading with it. + +**Trading as a lifestyle is like being a fireman who gets paid per fire.** You don't make any money until a fire happens, and you don't make any money if you die in the fire or quit before the fire is over. + +I know that posting this may not encourage trading as a career, but if I can shine a little light on the reality of trading, I'm happy to do it. I wish someone had illuminated for me what I was in for 25 years ago when I got serious. It wouldn't have stopped me for a second, but it would have helped me prepare for the future differently. + +**I know that anything I could say would never discourage someone who is meant to be a trader, because nothing can dissuade a real trader, which is as it should be.** + +I personally love trading and believe that it is the one thing I am best suited to do on earth. There are times trading is fun, but mostly it is details, details, and risk management. The best times are after a long trading campaign (fire) and you are relatively flat for a while. You can take time to get perspective. And get mentally prepared for the next one. + +**Most people think that communities like this forum make it easier to learn how to trade, but I am certain the opposite is true.** If most of the posts are from non-winners the only logical reaction for an individual who wishes to win is to fade the advice you see in these forums. + +**Everyone posting has a motive, even me.** Most motives are simple self-promotion, aspiring traders trying to make themselves feel good, look smart. A few posters have the motive to help others. Many figure that if they can't win, maybe they can help someone else and that makes them a winner somehow. Maybe so. But likely it is a case of the blind leading the blind. + +I'd bet you'd rather make money from trading the markets the way things really are, not the way some very literate, but non-winner says they are. Think of that the next time you read a "helpful" post. 99.9% odds the post is from a non-winner. + +Trading is a solitary business, with few peer get-togethers except by phone. And when you get discovered by people hoping to accomplish what you've done with extreme care and trial by fire (amazing fireman analogy again!) they demand your help and time (hard won by now) but don't want to compensate you because they think you should just give to them because you've been so fortunate. + +Perhaps this missive will be useful to someone. If no one believes it, that is ok too. + +I'm off to tend a fire in the metals, the other currencies. + +Best wishes on the NFP report in an hour. + +[\-TheRealThing-](https://www.forexfactory.com/therealthing) + +&#x200B; + +I wish you all success in your trading endeavors. +I am unable to understand why the PE of Monte Carlo is so low compared to other similar companies. Its a debt free, profitable company and profits are constantly growing. Monte Carlo even pays dividend. I only see a grossly undervalued company, is there something i am missing? +Can someone please explain why the stock is declining since 3-4 years? +I graduated college 5 months ago and started working a full time job in June. I like my coworkers and I get paid really well($60k/year), but I look around at all the cubicles and think to myself “is this it?”. My job is at a huge corporation and I hate it. I was depressed for a month thinking that this is the route I chose. Then I heard Gary Vee for the first time, and I was fired up. I stopped watching Netflix and wasting my free time. I started learning more what my passions are and what I want to do. I don’t want money to be the reason why I stay at a job. I opened up a seasonal Halloween online retail store a month ago, and have done $5K in sales so far with 48% profit margin. I’m honestly so happy with knowing that I can grow my knowledge and pursue working for myself one day. My parents tell me to slow down and just work my 9-5 because I’m only 22, but I feel like if there’s a time in my life to mess up then it’s now. Again, happy to join this subreddit! +Started trading in July. Started with high of day momentum plays. Then tried options trading the SPY. Tried futures after that. In total I’m down 15k. Saying I’m frustrated is an understatement. Is it time to quit and save what money I have left? + +I have a genetic disorder (Ehlers Danlos Syndrome) that is likely to result in me being too disabled to work full time in 10 to 20 years. I am quite ignorant when it comes to finances and planning, so I’m seeking advice here. + +Some facts about my current finances: +I currently work full time in CA and make 75,000 per year before taxes. I contribute the max amount *I can afford* to my 401k. I have about 40,000 in student loan debt and about 2,000 in credit card debt. + +Ongoing bills: +- Rent 1,000/month (live with roommate) +- Health+Dental Ins 450/month +- Student loan repayment: 400/month +- Utilities+Internet: 120-200/month +- Medical: 900/month +- Other (Netflix, Grocery Delivery, Amazon Prime): about 60/month +Not included: car insurance, renters insurance, gas, other things I’m forgetting + +I just got done paying off huge hospital bills. My medical expenses are so high because I have to pay privately for CBD pain-management products, massage therapy (also pain management), and psychotherapy. I tried for many years to go through my insurance provider to get adequate mental health treatment without much success. These therapies are a huge reason I am still able to work full time. Symptoms of PTSD make it really challenging to become comfortable with a massage therapist, so it’s not worth it to me to try and find another one that charges less. I make too much to qualify for lower fees based on a sliding scale. + +I don’t have a partner and I don’t really have any other social support. I can’t plan on being able to move in with a friend or family member when I get older or become disabled. I am super thankful to still be able to work, but 100% of me goes to my job. I come home and rest or do physical therapy exercises and have little social life. I would like to move to a place with lower cost of living, but then I would lose access to my current medical team. + +Thanks to anyone who is able to offer some advice! + +Edit 1: Changed a sentence to indicate I am contributing as much as I can reasonably afford to my 401k, but I’m not “maxing out” my 401k, if that makes sense. I have a lot to learn. + +Edit 2: People have been asking so I wanted to say that I work with kids and families that are effected by Autism and other diverse neurological presentations. I travel to homes and schools and create behavioral treatment plans and teach caregivers/teachers how to help their kiddos. I love this job, and fortunately it keeps me moving (even though it’s mentally, emotionally, and physically exhausting). The less I move the more quickly I become deconditioned, and I need my muscles to support the instability of my joints and other body parts that have collagen (heart, bladder). Unfortunately, my current physical state (and lack of time) does not allow me to exercise in a way that will help me to rebuild a lot of muscle, so continued deconditioning is inevitable. But I can significantly slow it down. There are a few companies that would allow me to work via telehealth, and that is something I am considering, but sitting and constant typing most of the day will likely be worse for me than my current job. Also, typing in the future may not be doable because of finger dislocations. And finally, I have neurological symptoms (neuropathy, migraines, spinal fluid flow issues) which may eventually make working full time at any job not doable. +I get paid biweekly (924.25) and work 40 hrs a week. I recently got paid for 80 hrs of normal work and 80 hrs of overtime (2075.82). It was someone's mistake working on the payroll. Once they realized their mistake, I was paid 0.00 for the next paycheck and 498.60 for the next. A total of 2574.42 for the 3 paychecks. + +I would normally make 2772.75 for 3 paychecks. So this is a difference of 198.33 due to having more taxes taken out of the large amount I was accidentally paid. I've been trying to figure out what to do about it. I would like to be paid the 198.33 but the lady I talked to said the taxes have been paid and there's nothing she can do. + +I've been trying to get this resolved. The people managing my paycheck accused me of intentionally doing this and that I tried to hide the mistake. I notified my boss the day I was paid and we couldn't get in touch with the payroll people for a week. So I don't know if there's nothing that can be done or if they just don't want to do anything. + +Should I just let this go? Or do I file it when I do my taxes? + +Edit: Thanks so much everyone! This is my first job/ the first time I will be filing taxes so I just wasn't clear on everything. As long as I'll get it back at the end I'm okay with waiting. I now realize that I was paid the same and taxed differently and there's nothing payroll can do now to fix this. + +Edit 2: wow thank you all so much for your input! I'm surprised this got so much attention for such a small issue. I will worry about the 198 when I file my taxes! Also I will read everyone's comments tonight and reply to them. + +Edit 3: okay so while I was at work I spoke to a lady briefly and she just kept telling me there wasn't anything they could do to fix the problem and the money was already sent away from the initial pay check. My boss was calling me at the same time so I told her I had to go. I haven't gotten the chance to call her back today. I just got an email saying my case number has been closed! (They gave me a case number when I reported a problem) I feel like they're trying to hide something. Not exactly my issue but I'm sure they have messed up bigger things in the past and they don't want me to draw attention? I'm okay with just letting all of it go. But it's ridiculous that they closed my case without me getting a chance to talk +Just read the news that Bitfinex will stop business with the U.S. Anyone have an idea as to how this will go down? I would stay to see what happens but I rather not risk it. +https://www.bitfinex.com/posts/216 + +I was really enjoying Bitfinex. Any similar exchange that has "Trail Stop" and good tools? Id like to move my money soon and id appreaciate suggestions. Guess I have to get a cold wallet or something too. + +wow + + + + +**My Original POPCORN Thesis In A Nutshell:** + +During the insanity of the early 2021 frenzy, GME was trading much higher than POPCORN during a crucial period of FOMO. This meant that many new investors (like myself) were more comfortable YOLO'ing into POPCORN. This was due to the perception that "POPCORN had more room to squeeze". Whether this is true or not doesn't matter. What matters was the public perception. For many novice investors, POPCORN simply seemed like the better "deal". Millions and millions of investors piled into POPCORN. I, myself, had xxxx shares at a point, and only about 20 GME. Whether POPCORN was the better play didn't matter. What mattered to me was the massive influx of investors into POPCORN. To discount that fact is to take a biased view of the situation. + +I STILL BELIEVE POPCORN AND GME ARE INEXTRICABLY LINKED DUE TO MANIPULATION AND RETAIL YOLO'ING, BUT TO A POINT. + +**What My Instinct Is Telling Me Now:** + +CEO's, FUNDAMENTALS, AND STOCK DILUTION MATTER. As Mark Cuban put it, and I'm paraphrasing "The only way the shorts win is if the company goes bankrupt, or retailers sell their shares.". Over the course of the past 8 months or so, as I've educated myself (thanks to wrinkle-brained apes), I've come to believe that GameStop is about to cause a SEISMIC shockwave through three worlds: + +1. **CRYPTO/NFT/BLOCKCHAIN** +2. **ECOMMMERCE** +3. **FINANCIAL MARKETS** + +Although currently based on conjecture and speculation, the tea leaves that we ARE able to read are pointing to something huge coming down the pipe. They've poached top talent from companies like Apple, Amazon, and Google—while reeling in heavyweights in the blockchain space. How has "dying brick and mortar" been able to do this, in a time when those other companies are CRUSHING it? + +There can only be one answer in my opinion: GameStop is promising these people an opportunity to be part of a revolution of sorts. A David v Goliath story. They're promising this talent that they'll get a front row seat on one of the wildest rides in human history. + +**THE FACT IS, GameStop Execs (not selling massive amounts of shares) AND the talent they're able to acquire, ALL BELIEVE IN THE FUTURE of this company.** + +That means that GAMESTOP IS NOT ONLY **NOT** going out of business.—but they are going to be one of the powerhouses of the next decade and beyond. That also means that the hundreds of millions (if not billions) of naked shorts WILL need to be bought back. + +**I BELIEVE IN THE GME APES, GameStop, and RC TO LAND THE KNOCKOUT BLOW THAT DROPS HEDGIES TO THE CANVAS.** +Hi all, + +I just wanted to confirm that what I'm reading in their terms is correct. + +Basically, if I buy some item now which costs £1200, I can make no payments for 9 months, and by the 9th month, if I pay it off in full which is £1200, that's all I pay. Unless I go over the 9th month period then I will be paying the 24%APR, which will be around £1800. So basically they are giving 0% credit for 9 months? + +Thank you! +Long time lurker to this sub and I've seen hundreds of posts mocking TA as astrology, fortune telling, or witchcraft which I never understood why. + +I have a strategy which is based on the NNF strategy framework (trigger, baseline, confirmation, exit indicator, position sizing etc) exclusively built on TA which has been backtested and in production for a little over a year now and is still chugging along. It doesn't pump out huge numbers nor is it as sophisticated as statistical arbitrage and other HFT strategies, but it gets the job done and has beat the market over the past 5 years. + +Welcome any perspectives. +I have $1.2 million available on margin. Thinking of buying 20000 shares of GME at $25.88 and immediately selling 10/28 or 11/4 $26 CCs and pocketing 9%. Is this a dumb thing to do? What’s the downside here? +It’s 6am and you’re wide awake. **Again.** + +You went to bed at 2am, just as you have every day, and your brain’s so foggy, you can’t even remember when this all started. + +*“But I need to know.”* + +“What are the prices right now? Should I exit? Should I buy more? Is this micro-cap finally going to make the big move? Or is this the top?” + +And most important of all… + +**“Did I fucking get rugged again?”** + +This harrowing maneuver is what they call the “dance of the day trader.” “Baile del comerciante del día” as they say in El Paso. And when it ends in some **bullshit** **hack** of your favorite shitcoin that pulled all liquidity while amazingly taking down their website and telegram simultaneously **“through no fault of their own”** it can simply make you wonder how you didn’t see this all coming. + +At the same time you’re getting backdoored, **Chad Whalington is enjoying both his nice green candles and has nice comfy sleep with his nice comfy holds.** He already has full exit strategies on each of his positions and is prepared for several different outcomes. **He eats five-figure losses for breakfast and shits six-figure gains after a pre-dump cigar.** + +And he didn’t do this by copying the whales and following the pump and dump schemes. He actually did the opposite. **Chad called out the FUD, ignored the FOMO, and focused strictly on project fundamentals.** + +Is he dining on top-100 coins? Nope, still just microcap gems, he’s just the guy who knows how to avoid getting played by the big wallets. **That’s because he’s been using FERA Strategies to inform all of his decisions, letting him get back to relaxing and enjoying his money instead of just stacking it.** + +With FERA, you’ll get a community of analytically-minded traders with a set of tools developed by a **fully-doxxed team** focused on microcaps before they go **parabolic.** + +This includes **a database of low-cap projects** with dedicated reviews, ratings, and, critically, entry/exit prices so you understand what a project is actually worth before investing, rather than making wildly speculative decisions. + +By establishing criteria on each token regarding its **product, exchanges available, volume, team, tokenomics, as well as risk assessment,** there is an easy to digest system that should allow you not only to see what the strategies are on every coin, but begin to cater a plan that suits your needs and preferences. + +And again, access to many of these services is only dependent on holding a number of tokens. While entry to their Beasts Telegram where you can get advice directly from the FERA team requires holding 1M FERA tokens, it is certainly worth the price of entry given the high amounts of activity with traders who are thinking outside of the pump. + +But if you don’t want all the perks, as of yesterday, the **FERA team opened up the Lions group which requires a more modest 200k tokens**. Holders at this level will be able to discuss strategies with other experienced traders as well as participate in live AMAs hosted in the channel. **This is all done while maintaining a level of exclusivity through the token requirement which will keep out the scams and rugs and foster better collaboration.** + +And the beauty here is that all you have to do is hold the token which continues to go ballistic. While those totals sound high, **we are still sitting at a price below 2 cents a share at an absolutely tiny $2M market cap**, which, compared to all these $100M launchpads like Trustswap and Polkastarter, is an absolute dream. + +Since this solves a clear problem for the 24/7 crypto day trader by providing full strategies and not just pre-sale allocations, FERA has the potential to moonshot right past these launchpads and, once we’re in mass adoption, be featured as one of the biggest investment firms in the game. + +**Could you imagine getting a piece of Alameda before it became a “$1B an investment throw it around who the fuck cares,” kind of company? I certainly am now.** + +And always remember folks, ape together strong. If we can band together and focus strictly on data analytics, make buys and sells that are healthy and based on fundamentals, **WE can take the manipulation out of the market.** + +**Pump and dump schemes exist because we let ourselves FOMO into things and let gigantic purchases and sales dominate our psychology.** If you buy when the whale sells, it’s the whale that gets rekt, not you. If you sell when the whale buys, it’s them that will be missing out. **Technical analysis will be your friend. But FERA will be your partner.** + +Uniswap - [https://app.uniswap.org/#/swap?inputCurrency=0x539f3615c1dbafa0d008d87504667458acbd16fa](https://app.uniswap.org/#/swap?inputCurrency=0x539f3615c1dbafa0d008d87504667458acbd16fa) + +Website - [https://www.ferastrategies.com/](https://www.ferastrategies.com/) + +Platform - [https://feraplatform.com/connect](https://feraplatform.com/connect) + +CoinGecko: [https://www.coingecko.com/en/coins/fera](https://www.coingecko.com/en/coins/fera) + +Telegram: [https://t.me/ferastrategies](https://t.me/ferastrategies) + +Medium: [https://ferastrategies.medium.com/](https://ferastrategies.medium.com/) +Wife and I are going shopping for a brand new car. Neither of us have ever shopped for cars before so any tips or things to remember/watch out for? We’re open to either purchasing or getting into a PCP agreement. + +In case it helps, our circumstances are: + +£8.5k max to put down as a deposit. Absolute maximum monthly we can commit to is £400. +We have a vehicle to dispose of but it’s not worth anything... 2006 banger + +Happy to answer any other Qs you might have to help with giving advice. + +Thanks. + +(Appreciate there’s a whole other discussion around the merits of buying new, we’ve decided to go down this route though) +I am still far out (8-12 years) from reaching FIRE, but was wondering how people are doing that took the leap in the past 12 months, seeing that markets have been struggling recently. +This is not an advertisement. I'm a fan of Finshots and agree with their fundamental goal of making financial information understandable and accessible. Finshots has launched [Ditto](http://bit.ly/34oGOUM) which helps people with information health insurance. + +Having done health insurance comparison for my parents just a month ago, creating my own Excel and going through so many policy wordings, I appreciate having it all available in one place as a neutral party and not for profit (atleast for now) +Hi everyone. + +So I’m 62 and my wife is 61 and we are getting near retirement. + +- We originally bought our home for $200K and it’s appreciated to $500K since then. House is paid off. + +- To simplify our lives, we were thinking of selling our house and buying a condo with 20% down. Condo would be roughly $300K. + +- The rest of the money would sit in a Vanguard Mutual fund (VTTVX) short term. + +The condo would have significantly less upkeep and insurance is cheaper. The interest we’d make on pulling the money out would pay for our mortgage payment. + +Other data points: + +- $240K loan at 2.75%. +- Property Taxes are ~2% +- HOA is $200/month. But insures everything exterior, lawn maintenance, and includes internet+tv. + +*edit* the question itself! + +- Does this make financial sense? It seems like a no brainer but I’m not sure if I’m missing something here. + +Thanks for your help in advance! +For those of you that day trade full time, I’m wondering what a realistic amount of capital it would take to begin day trading full time for a living? Specifically would be trading crypto so the PDT rule wouldn’t matter +Has anyone else noticed this? I got into REI because I wanted to aggressively grow my income as much as possible while also diversifying income streams from my primary business. Because of this a lot of the strategies employed by others and the mindsets others have dont really do me a lot of good. It seems like everyone who hosts podcasts, posts on the BP forums, or posts on Reddit, just wants to make enough to pay the bills. I always see people who have set their "big goal" as replacing their job income, but no one who has a goal of actually becoming "rich" through real estate. + +Is it just me seeing this? Everyone just seems to have such small goals. I've looked for ages for a podcast, book, or just *anything* with content from people who got into real estate because they wanted to make a significant income from it. Cant find anything. +This came from an IIF event yesterday where he also said, "Our clients are adults, they disagree, that's what makes markets. If they want to have access to buy or sell bitcoin, we can't custody it, but we can give them legitimate, as clean as possible access." + +He also called Bitcoin worthless and has previously said, "My own personal advice to people is: stay away from it. That does not mean the clients don't want it...I don't smoke marijuana but if you make it nationally legal, I'm not going to stop our people from banking it." This came after his clients have shown great interest in Bitcoin + +&#x200B; + +*You all read the algorithms?* + +Yes. + +&#x200B; + +https://preview.redd.it/13yf928wq1t71.jpg?width=947&format=pjpg&auto=webp&s=d32912165f8b5f9092f14c4a3f8c3727d5050c11 + +Its just 2 lines of code. + +**if (halvings >= 64)** + +**return 0;** + +&#x200B; + +*I've always been a skeptic of stuff like that* + +Stuff like what? reading? + +Anyone with basic math knowledge can verify it. If he can't do that simple math for himself he probably shouldn't be a CEO at an investment bank. + +This is one of the most ignorant statements I've ever read on crypto +I'm Mid-level in my career (non-engineer) but in tech. Currently work at a large, old school tech company. + +Currently mid-interviews for several companies. My options seem to be mid-level positions at a unicorn ($170-200k+pre IPO stock) at either a high-growth unicorn or junior/mid-level at FAANG (TC $300k). It's clear of those two, FAANG wins in the short-term. However, since I'm still young, I'm trying to play the long game. At a Unicorn, I can move up quickly, get to a director level in the next 2-3 years, manage a team. Then could either stay (depending on TC), move to another Unicorn in a much more senior role, or potentially move to FAANG at a much higher level. I know climbing up the career ladder at FAANG is pretty slow if you start low, so I'm thinking that waiting until I have more experience and then can get in at a more senior level is a better long-term investment. + +I am not necessarily considering a Unicorn because of the IPO opportunity (though of course it would be a nice bonus), as i know this is a risk, I'm more intrigued by the opportunity to move up quickly with a fairly decent base salary (that i couldn't get at earlier stage startups). Any advice? + +TL/DR upfront: + +Upcoming EV competition is *the* driving DD behind the Tesla bear narrative: that EV competition will show up à market competition will drive EV prices (and therefore $TSLA margins) down to industry-norms. I think this reasoning is flawed. Ford’s unprofitability with the MachE provides a window into what the competition is facing, and why Tesla is *very likely* to retain supply capped demand and see robust gross margin growth--insulated from the effects of market competition—for several years (until \~ 2026-2028). + +\---- + +Argument: + +**Fords issues with EV profitabili**ty (link: [Ford CFO says inflation has erased Mustang Mach-E profits, but isn't hurting demand (cnbc.com)](https://www.cnbc.com/2022/06/15/ford-cfo-says-inflation-has-erased-mustang-mach-e-profits-but-isnt-hurting-demand.html) ) i**s a** **PROXY** **for legacy auto’s outlook writ large.** + +Ford’s ‘Tesla Killer’ is their Mach E, which is a BEV (full battery) crossover SUV. However, recently Ford announced that they get zero profit from sales of their Mach E. Price information is below. + +* The ‘Standard Range’ RWD (68kwh battery, 230 miles EPA range, the lowest $ base model) is $42,895 before dealer markups and delivery fees +* The ‘Extended Range’ (88kwh, 300 miles EPA, the lowest $ long range model) is $52,000 before dealer/delivery + +Fords lack of Mach-E profitability is VERY interesting because the car is highly priced while also benefiting from several cost-lowering factors: + +* $7,500 U.S. federal EV subsidy (Ford has yet to hit the 200,000 vehicle cap for the $7500, at which point it gradually decreases). Tesla buyers do not qualify for any EV tax credits right now. +* Made in Mexico with cheaper, non-unionized labor +* Usage of large pouch-style batteries, which are cheaper but lower-quality +* A more battery-efficient Car form-factor (as compared to a truck), meaning less batteries for a desired range and, therefore, lower cost of production. + +If Ford is unprofitable with a high-priced EV benefiting from $7,500, made in Mexico with lower priced components, how are they going to be profitable with the F150 Lightning? The F150 lightning will, + +* Be made by Union labor at U.S. labor prices +* Have a less-efficient form factor (truck aerodynamics are very bad) +* Have higher User battery needs (towing range). + * F150 lightning loses 50% of its range when towing a 23-foot airstream trailer. Add to this cold-weather battery reductions, heating needs, going up inclines…the trucks 230 mile range’s real drivable radius when towing can get extremely limited very quickly. +* See a gradually reduced subsidy amount ($7,500 --> $3750 --> $1875) + +It is very possible that the F150 Lightning begins to see razor-thin profit margins (or none at all) over the near future. + +Additionally, Ford has additional issues it has to tackle: + +* Growing percentages of EV sales will reduce dealership income (most of which is derived from maintenance and repair), leading to more pervasive markups +* A need to develop a ‘supercharging’ network. + * Look more deeply into their published numbers—if you nix Tesla’s superchargers (which they can access rn), as Tesla will jack up prices for non-Tesla’s over time (especially when the supercharger network begins to get overburdened), and eliminate low-power chargers, look closely in your area at the ACTUAL NUMBER of high power charging stations individually. There may be chargepoint nodes in your area, but at least in Atlanta, the total stalls are very low. +* Battery supply shortages --> higher prices for batteries + * This is why Fords CEO has been talking about the need for federal support with battery raw material production + +**SO WHAT?** + +1. Ford has to raise prices—they have no other choice. + 1. None of the sub-bullets above (dealership cut, need for expanded charger network, declining subsidy $, higher priced U.S. labor, higher priced batteries with less-efficient form factors) is easily solvable. While Ford talks about separating EVs from its dealership network, that legal fight will take YEARS. +2. This same situation will manifest in other legacy automakers +3. Legacy auto debt levels (looking at Ford and VW, in particular) mean they can’t afford to produce less cars or see zero profit. +4. Therefore, legacy auto has significant pressure to maintain high prices +5. Tesla is, therefore, insulated from the price reduction and gross margin contracting effects of market competition. + +Add to this several Tesla-phenomena + +1. Tesla’s cost of production will continue to decline, meaning that gross margins will continue to expand + 1. Technology reasons: dime-casting, structural battery, and 4680 (if it continues to scale) batteries + 2. Economies of scale reasons: Tesla is centralizing serious production capacity in its main four factories. 50% CAGR can be achieved for several years with the current factory footprint alone. Austin is projected to eventually produce 2 million units alone, per year. I would doubt these projections if it wasn’t for Tesla’s record setting CAGR—which has surprised the entire industry over the past three years. +2. Therefore, because Tesla has more ‘buffer’ to decrease prices—in an environment that is continuing to improve and in the context that legacy auto faces), Tesla has the ability to win any price war for several years into the future + +Conclusion + +Tesla will be able to maintain supply capped demand for its cars and will have minimal pressure on gross margins from market competition for several years into the future. While some legacy auto (VW) MIGHT produce EVs in large numbers, this will not negatively impact Tesla gross margins. + +Would **love** for folks to put forward a strong counter argument. I have several $TSLA 2024 leaps and, if I am wrong in my assumptions here, would muuuuuch rather know that my thinking is faulty than continue to sit on this volatile position. + +edit @ 622pm est. A few of you have pointed out that I am assuming tesla costs of production go down, but don't say the same for legacy. What I am trying to say here is that legacy production cost decreases HAVE to go down just to maintain current profitability levels as they lose the $7500 subsidy, begin making cars with UNIONized American labor, with (for the F150 L) less efficient form factors. No, I don't have the numbers for this because I'm not omnipotent--but consider: these are serious headwinds. 7500 is a HUGE subsidy on a 43,000 dollar car. Union labor is way, way more expensive than Mexican labor. 7500 alone is a huge moat to cross when you're not profitable with that 7500 subsidy. +I have been trading off and on for 10-ish plus years, something always comes up weather it’s losing money, or work, or a child, and on top of that I have always been afraid of putting big money in my account until I become consistently profitable, by that I mean I set up a goal of I have to be two years profitable before I put any big money in my account. +That being said I think I’m to a good point with my finances and everything else that I can start putting a lot more money into my account and my long-term goal is to trade for a living. + +The whole reason of my explanation above is because today I was in a meeting with a whole bunch of kiss asses that make more money than I do and do less work, but because they are up the bosses ass they are praised for all the hard work they do. + +I was looking around at them and thought the reason I love trading so much is because your profits are exact results of your hard work and perseverance not because your a good ass kisser… + +Good luck trading all and for those of you doing it for a living I am super jealous but will be there some day. +https://twitter.com/NickTimiraos/status/1289949000980783106 + +https://www.wsj.com/articles/fed-weighs-abandoning-pre-emptive-rate-moves-to-curb-inflation-11596360600 + +> The Federal Reserve is preparing to effectively abandon its strategy of pre-emptively lifting interest rates to head off higher inflation, a practice it has followed for more than three decades. +> +> Instead, Fed officials would take a more relaxed view by allowing for periods in which inflation would run slightly above the central bank’s 2% target, to make up for past episodes in which inflation ran below the target. +> +> “It would be a significant change in terms of how they are thinking about” the trade-off between employment and inflation, said Jan Hatzius of Goldman Sachs. “A lot of those things look very different now from the way they looked a few years ago,” he said. +> +> Fed Chairman Jerome Powell hinted at the shift at a news conference last week when he said the central bank would soon conclude a comprehensive review of its policy-making strategy that began last year. +> +> Mr. Powell initiated the review with an eye toward beefing up the Fed’s ability to counteract downturns in a world where interest rates are lower and more likely to remain pinned at zero. +> +> Even before the severe shock from the coronavirus pandemic, the Fed had grown concerned about spells of low inflation that have bedeviled authorities in Japan over the past two decades and in Europe for the past decade. +> +> The change being contemplated now is a way of essentially telling markets that rates will stay low for a very long time. Markets have likely already picked up on this change, given the continued declines in long-term interest rates. +> +> The changes on their own will do little to provide more support to the economy right now because investors already understand that the Fed isn’t likely to raise interest rates for years, said Steven Blitz, chief U.S. economist at research firm TS Lombard. “It is a change at this point without meaning. It’s just words,” he said. +> +> The Fed would formally adopt changes by altering a statement of long-run goals that it approves annually, something it last did in January 2019. “The changes we’ll make…are really codifying the way we’re already acting with our policies,” Mr. Powell said last week. +> +> One way for the Fed to do that would be to amend that document to say inflation should average 2% “over time.” +> +> +**TLDR**: Work 2014-Present living frugally in "VHCOL". Over the last 6 years post tax income has changed from $50,000-$64,000 (Engineer, but not one of those cool engineers.) NW from \~18k to \~330k at present. Average savings rate of 60%. + +["Wall Chart" Graph (Shows NW, Income/Expenses)](https://i.imgur.com/7MXfHpw.png) + +*\[Side note: Over the 6 years on this chart, I received a few windfalls, totaling $33,000, due to the passing of a relative. If it makes you feel more comfortable, feel free to remove these from my NW, as they were out of my control. Note, my income #s include the windfalls, I was too lazy to separate them.\]* + +&#x200B; + +**Why I'm posting** + +I see mild, good natured complaints in the comments every time there's a "My Story" post with someone with a 200k yearly income, so thought I would share my story so far as an "average" earner whose income and expenses haven't changed too drastically over the years shown. + +**"Okay cut the shit, what is 'Average'?"** + +Grabbed "Average" from this [Source (dqydj)](https://dqydj.com/average-median-top-individual-income-percentiles/) which shows + +*Median (pre-tax) income* of \~$43,000 (50th percentile) and + +*Average (pre-tax) income* of \~$62,000 (\~65.5th percentile), + +which is just above my average pre-tax job income over the years shown. + +&#x200B; + +**Here's my Post Tax In/Out** + +||Income|Expenses|Net| +|:-|:-|:-|:-| +|2015|50,200|19,600|30,500| +|2016|54,500|24,200|30,300| +|2017|63,900|29,900|34,000| +|2018|67,800|20,600|47,200| +|2019|56,100|22,100|34,000| +|2020 (so far)|57,500|18,100|39,400| +|Average|58,300|22,400|35,900| + +\[\*See Windfall side note in TLDR above\] + +&#x200B; + +**Lifestyle/Expenses** + +I am a "low maintenance person", so I have a fairly cheap ($750/mo) room rented with housemates (edit: After 6 years, I am finally starting to getting sick of this. Time for an upgrade soon...). No car, bike to work, bus if I'm going somewhere I don't want to bike. Gracious friends help for rides if I'm going somewhere I can't bus or bike to (and then I treat them to lunch, if they'll let me). + +Food cost \~$380/mo. I do most of my cooking/bring lunch to work, but don't consciously try to penny pinch at the grocery store. I get the good ice-cream. Food is expensive where I live. + +The rest of the expenses are small, but add up to \~$1,800-1,900/mo. Happy to share more info about expenses etc. if you have any questions. + +&#x200B; + +**Strategy** + +Basically, Index funds buy & hold. Nothing too complicated here. + +I mostly follow the FIRE investing meme hivemind. + +&#x200B; + +**Reflecting/Looking Forward** + +I definitely realize the market has been an absolute beast for helping me reach this milestone. I'm not sure I expect it to work quite so hard for me in the future (either way, it doesn't affect my approach to investing/FI). Currently planning for a conservativeish 3.75% withdrawal rate, and have just reached \~50% of my average expenses, \~25% to my arbitrary FI number, which I'm sure will increase. Current planned FI number allows for just over 2x my current expenses. Slow and steady wins the race. + +Take care and happy belated Halloween everyone :) - TreeFiddy (Maybe I shoulda waited til 350k...) +Hi guys! + +I purchased my first single family home in 2018, lived in the home for 2 years while renovating and signed a lease in 2020. I purchased my second single family home in 2020 and am currently living in it & renovating, and will rent out end of this year. + +I intended to do this again end of this year, beginning of 2022 and am financially able to comfortably do so with 5% conventional. This of course is possible due to the home being primary residence. + +The properties cash flow $800.00 & I am doing this in an area of Connecticut I feel comfortable and am able to with home prices in the $200k range. + +Situation: I have a job opportunity in central coast Cali, somewhere the housing market is much higher and I am not as comfortable with, and I will not be able to utilize a 5% loan to purchase back in CT as my residence will be in Cali......I could buy in Cali but based on my research, my income will not support what I'm doing in CT in Cali. Is there any other possible way to continue what I was doing in CT or must I figure out a way to do so in Cali? I hope this post isnt rhetorical but I figure it couldn't hurt to gain perspective. + +\*moving to Lompoc/Vandenburg area +WenMoon launched a week ago and its amazing to see the progress being made already. No doubt about it, this has the most potential of any new crypto launched in recent memory. + +One week is not a long time but let's break down the progress that has been made. + +WenMoon has chosen to adapt to the market in and are in talks with developer to **create the first Dapp** **powered by WenMoon.** When this is completed it will be a HUGE win for investors. This will give WenMoon what it needs to be listed on the prominent exchange markets. + +The team has announced a **nation wide advertisement campaign** that has already begun to launch. They hope this will attract new investors who are not as familiar with the crypto space as well as those who are. + +WenMoon will be starting their own **"Astronaut Program"**. This will be a charitable donation program that helps kids learn about investing early on so that they are better equipped to make better financial decisions early o, + +The project started as an idea to give back to investors trough a 15% redistribution rate that would reward investors for holding, thus allowing for better growth. That 15% is now **$150k a day** being given back to investors. Hold to make money. Easy gains. + +This is an exciting investment opportunity that almost **3000 people** have already figured out, however it is still incredibly early to get in. Bigger market cap cryptos have hundreds of thousands of holders and this one is on pace to be the next one. I'll leave some links for you to decide yourself. + +Telegram Chat: [https://t.me/WenMoonTelegram](https://t.me/WenMoonTelegram) + +Website with info: [https://wenmoon.space](https://wenmoon.space/) + +Listed on pancakeSwap[https://exchange.pancakeswap.finance/#/swap?inputCurrency=0xb93ba7DC61ECFced69067151FC00C41cA369A797](https://exchange.pancakeswap.finance/#/swap?inputCurrency=0xb93ba7DC61ECFced69067151FC00C41cA369A797) Use 5% Slippage and make ending digits end in 000's (Ex. 500000, do not do 5130942) + +Don't forget to pack your moon boots 🚀 +Most here should be familiar with the article that has made the rounds ([https://www.nytimes.com/2021/06/09/us/politics/propublica-taxes-jeff-bezos-elon-musk.html](https://www.nytimes.com/2021/06/09/us/politics/propublica-taxes-jeff-bezos-elon-musk.html)) and subsequent conversation about how ultra high net worth folks (and many of us) have significant unrealized capital gains. So folks like Bezos et al are taking out personal loans against their stock at low rates (and deducting the interest) to legally avoid paying taxes. My question is - eventually the loan principal needs to be paid back. I guess one could keep on rolling the loans over until death, but the bank still needs to be paid and presumably a portion of the stock is finally sold and capital gains are paid before the heirs get the remainder stock at a new cost basis. Is there some strategy being employed to avoid paying forever? Insurance? Trusts? + +Are fatfire folks also employing this strategy? +I (34, FAANG my entire career, set to FIRE in 4-5 years) have a 1-year old. + +Besides worrying that my kid is growing up pretty darn well off and being out of touch with how fortunate he is compared to everyone else, I worry that if they see me retire, they won't have a role model for how to work hard as an adult, or have unrealistic expectations career-wise if he looks at me: I was a really good student but I still think I lucked my way into getting and staying where I am and just expected to live like my parents and turned out to be living well beneath my means. I think it'd be very optimistic that straightforward FAANG-like opportunities will be around in 20 years for my id. + +All this to ask - any advice, books, or other resources on how to steer my child away from such traps and attitudes? +I've come across the idea of protectionism in some casual research I've been doing. I don't know the first thing about economics. Are there any good books and articles that could help me understand protectionism vs free trade, why and how the West has historically encouraged free trade in developing nations, examples of successes and failures, etc? I would appreciate any recommendations at all but would prefer materials that aren't too extraneous in terms of the economics. Also, what area of economics would these ideas fall under? Thank you. +Welcome to the Daily General Discussion thread of /r/EthTrader. + +*** + +Thread guidelines: + +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All [sub rules](https://www.reddit.com/r/ethtrader/about/rules/) apply here so please be familiar with them. + +*** + + Resources and other information: + +* Find the latest Altcoin Discussion thread in [this search listing](https://www.reddit.com/r/ethtrader/search?q=author%3Aautomoderator+title%3Aaltcoin&include_over_18=on&sort=new&t=all). + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! + +Sup dudes - I'm an xxx lurker that uses reddit "r/all" to stay on the pulse. r/Superstonk is [was] consistently in top results of hour/day. Late on Friday night I was scanning "r/all" and could not find a single Superstonk post. I sorted by top of the day and couldn't even see the RC twitter post many pages deep. At first I thought it was something with my settings and that I maybe filtered Superstonk. This wasn't the case. I created a new user in incognito mode with a VPN and still could not see any Superstonk posts in "r/all". Strange enough when I log out of a reddit account, only then I can see this sub being mentioned in "r/all". + +The changes to remove superstonk from "r/all" were rolled back on Saturday/Sunday morning, but it the change is live again. Try it out for yourself. Screenshots minutes apart at the time of posting: +https://imgur.com/a/YjtrKUf + +I am a software engineer by profession, and it seems that limitations have been deployed on the client side of reddit that are filtering superstonk posts. This can be side stepped by pinging the APIs directly via a 3rd party client like boost. I suspect that Reddit is making changes behind the scenes to prevent the good word from getting out. + +Let me know what you think - unfortunately I do not have the Karma requirements to post anything myself. + Thanks +I have been using the IND money app to track all the investments in one place. +And I quite like it's notifications about the stocks I hold when they go up or go down or some news about them pops up. +Was wondering how their subscription service(Ind money gold) is? Any reviews? +Newbie day trading and lost 10k today with the market going up on what seems to be a bear day. Cannot sleep and sad..how do you all know what indicators to watch to determine if the day is up or down? +Unfortunately he spoke surprisingly little about inflation during the annual meeting. He did however tell a long story about publishing what is probably one of the best articles written on inflation and investing. This is what he was referring to: + +https://hollandadvisors.co.uk/wp-content/uploads/2021/03/how-inflation-swindles-the-equity-investor.pdf +As I woke up this morning and sat my lazy ass down with a hot cup of Joe, ready to gaze upon the glory that is the flood of DRS posts... I was met with a rather unsettling sight.The ENTIRE sub has slid and waves upon waves of distraction posts have taken over the spotlight. I scrolled down for a loooong loong time and came across two posts... just two ComputerShare posts! What have they been replaced by? 3 million Michael Burry posts, 12.5 million RH lawsuit posts, about 532k Evergrande posts and 7 billion shitty Drake and Spongebob memes (divided 60-40). Talk about forum sliding inflation! Oh right, and I forgot to mention the truckload of whistleblower hotline posts... + +This is your FUD wave apes!! Their goal is the break the DRS hype with as many distractions as possible!! **You wanna know what RCs tweet was about? It's about putting your money where your mouth is!** It's about keeping the hype going, about pushing through and for each and every lazy or undecided ape to get off their asses and transfer to CS! Retail owns the float you say? Then fucking show it! This is what they're trying to prevent! Without these posts and with enough distraction they want to sidetrack the exodus to ComputerShare. It is up to apes to keep the hype going and upvote that which is truly important. + +Stay frosty apes! We're headed in the right direction, keep pushing! + +Derpy667 out! + + +Edit: Added more motivation. Also, thanks a ton for the awards!! Keep on DRSing apes! +As an individual, my main financial goal is to save up money until I reach financial independence, the point at which my saved/invested wealth makes enough interest that I can sustain my lifestyle without additional revenue streams. + +From the perspective of government, I would define financial independence to be the point at which the government has enough saved wealth to fund all current programs without imposing taxes. + +The philosophy in modern government is to borrow money to fund programs and keep a sustainable deficit. That's deemed financially acceptable because the government has a consistent revenue stream (taxes) to pay off the debt. + +I'm wondering why governments don't run their budgets with the goal of financial independence and minimal taxes. I understand that some taxes will probably always be needed as the economy and government organically grows, but wouldn't tax burden be way less year-over-year if we target financial independence rather than running a deficit? +Does a capitalist economy (one where capital goods are owned by private firms and individuals) require infinite growth? What would happen without growth? +I’m just filling this space to meet character limits but as the title says is there a reason that the biggest DDs not being pinned at the top for everyone new to see? + +I think this would be something very beneficial to educate, furthermore if this sub does get locked during moass then they would still be visible right away for all to see. + + +EDIT: Many of you are missing the point of this saying it’s easy to find with flairs etc. NEW APES with brain crayons have no fucking clue about anything going on here. We need a visible list at the top + +EDIT2: Due to the 2 pins limit, I think one is the daily discussions and the other one should be a NEW APES WELCOME MUST READ and compile all the useful important stuff there by most importance. You could have the voting on top and worthy DDs below for example +Hello all, + +I am a casual investor as of right now with my one property. I have been actively looking for a new deal for a few months right now and I just can't seem to find anything that is anywhere near cashflow positive. Maybe its my market but prices have increased so much that the rent I would have to charge is ridiculous. I know people say its always a good time to get into real estate but I really believe now the prices are over inflated on top of the higher interest rates makes finding a good deal harder than its worth. I know there are other ways around finding deals such as off market deals, but I have too many other things going on in my life to be able to find the time to do that. So I have decided to just hoard my cash for the next year or two until the housing market normalizes. This is just my general opinion and I was hoping for any sort of differing opinions on this topic. + +The main reason I have this view is because the Price to Rent ratio is at an all time high, last time it was in this range was 2005-2006. Also with all the talk of recession which I personally believe has a strong possibility of happening, inaction might be the best action. +After a mostly middle class existence (<300K/yr), I earned $1m in 2021 and am on pace for $1.5M in 2022. I don't know how long it will sustain. Hopefully a few more years. Who knows. My biggest expense is tax, and my family burns about $10-15k/month. + +$500k in 401k + +$750k or so in real estate equity (non liquid) + +I have about $1M in cash. In the last year or 2, I'm able to save about 50-70k/month in cash after spend and tax. Since this amount of savings is new to me, I just keep it as cash. + +How can I get to the next level? Most asset classes seem top heavy (real estate, markets). I'm sure a lot of you would just say that you can't time the market, but most analysts aren't very bullish at the moment. +I run a limited company and one of its perks is the generous taxation on pension contributions. If the company makes a contribution, it reduces its corporation tax bill and because it is not a personal contribution, no income tax is paid on it. This is tax efficient for the both the company and the employee. + +Currently it is common place to have matched contributions. For example, the employee would pay 5% and the company would match 5%. + +However, as far as I’m aware, there’s nothing stopping the company paying all of the contribution without the employee paying anything, as long as the contribution does not exceed the annual salary of the employee. + +Therefore, I’m wondering why there aren’t any jobs (as far as I know) that incentivise employees by paying large, unmatched pension contributions as remuneration for working there. + +For example, if a job paid £30k in salary and £30k in contributions, this would mean the employee is still a basic rate taxpayer and they get a HUGE boost to their pension every year - probably equivalent to 5-10 years of contributions they’d get at another job. This also saves the company a lot of money on tax. The only downside is that the employee has less money today. + +I could see this really appealing to people who don’t require huge amounts of money to live on and want to secure their future, especially those later in life who need to top up their pension before they retire. + +What do people think? Am I missing something? Why isn’t this a thing companies do? Thanks +To start, I know we're all at different levels and some people literally can't save. That's fine. This advice might not work for everyone. + +But I used to ignore people when they said **just set your direct deposit to automatically transfer money from your paycheck to savings** . I thought that just wasn't *me*. I thought I'd inevitably end up taking the money out. + +For some reason, I decided in October to try it. I set my direct deposit up to put $150 per pay period into savings. (You could set it to anything you can afford to spare. $10, $25, $500, $1000, whatever.) + +Lo and behold, I've actually been able to stick to it. Sure, it's been insanely hard. I ended up with $4 in my checking account for about a week and ended up eating ramen several times. + +But that's okay because now I actually have a decent emergency fund. The thought of my car breaking down or my dog having a medical emergency doesn't give me panic attacks. + +What's some advice you used to ignore but starting using with great results? +Do you guys think they will ever record profit? This article says majority of losses are due to subsidies to drivers. If they need to subsidize their drivers with investors money to remain competitive what will happen when investors will stop pouring cash into company? What happens when they stop subsidizing drivers? I know driver-less cars are on the horizon, but if they won't materialize quickly enough they'll end up in trouble. + +http://www.bloomberg.com/news/articles/2016-08-25/uber-loses-at-least-1-2-billion-in-first-half-of-2016 +Following on from another recent post about the financial benefits of marriage, I thought it would be worth mentioning you don’t need to spend thousands on getting married, but you can do it for less than £150. + +To get married in the UK you need to give notice and there is a statutory fee of £35 each. + +Then there is the registry office, for which most registry offices appear to charge hundreds of pounds for the ceremony. + +However what they tend to hide away is that all registry offices in the UK are legally obliged to offer a ‘statutory ceremony’ for which there is a set fee and with a marriage certificate only costs £67. + +For example - https://www.westminster.gov.uk/birth-and-death-certificates-marriages-and-citizenship/planning-your-ceremony/statutory-ceremonies + +Of course there are some limitations, such as only being allowed two guests who have to act as witnesses to the ceremony, limited days the ceremonies are offered, and no music or photos in the office, but none of that stops you taking photos outside or having a meal / party with family and friends afterwards. + +Anyway, just mentioning it in case it is helpful to anyone. + +Edit: Just to add, my wedding last year was very similar but slightly different. + +The two of us ‘eloped’ to Gibraltar and got married in the registry office there. Still only a couple of hundred pounds for the marriage fees, but then tacked it onto a holiday. + +One of the advantages of Gibraltar is no requirement to give a month’s public notice like in England (as John Lennon and Yoko Ono discovered back in 1969) - turn up, get the forms signed, and get married. + +The only rule is you need to spend one night in Gibraltar before or after, and even that is waived if you are on a cruise ship docking there. And the certificate is in English so no need to get it translated for any official use you need it for afterwards. +So I came across a stock broker who's willing to trade from my account (& investment) with KYC under my name... Having been acquainted with his intraday trading skills, I am ready to take the risk of investment... The proceeds of profit will be split between us... + + +My question is: can I claim the profit amount I pay him as brokerage fees/consultancy fees, & can I claim tax relief on the net profit while filing tax return..? We are sharing in 60:40 ratio +I was checking out the LEAPS options for selling covered calls on GME and it seems these are very well paying, and so a strategy came to mind that I haven't seen discussed. I just wanted to share it so anyone could point out any flaws in this plan or just bring up some discussion. + +&#x200B; + +Preface: This plan implies getting assigned at the end of the LEAPS term. Also its super low volume on + +**Example of plan** + +Start off with 400 shares of GME (valuation at $74,000 @ 185 / share as of **10/17/21**) + +Sell **4 covered calls** **@ 185 strike** price **expiring Jan 2024** netting $38,520 in premium. ($96.30 per share collected in premium) + +Use the premium to buy 208 more shares of GME instantly + +Sell 2 more covered calls for $19,260 in premium. (with 8 shares left over) + +Use the premium to buy 104 shares of GME + +Sell 1 more covered call for $9,630 in premium (not enough now to sell any more GME covered calls, 4 shares leftover) + +Use the $9,630 to sell CSP of choice (or keep the cash and invest in something else) + +&#x200B; + +Using this plan above, we went from 400 shares to 700 shares on CC's( $74,000 to $129,500 valuation), which will be sold in 2 years' time at the strike price (assuming we get assigned, being bullish on GME). + +Not to mention the additional $9,630 in the final premium (52 shares worth, and the 12 shares in change which were leftover, so 64 total ($11,840) + +So to summarize, we started off with $74,000 and in 2 years time, we will get this sold at $141,340 assuming we get assigned (764 shares worth). + +So this ends up being a 52% return on investment, assuming the stock doesn't drop significantly. + +&#x200B; + +Let me know what you think. The biggest issue I see is low volume, so the orders may never get fulfilled. +I don't have anyone to be excited for me, but you folks can appreciate the struggle. + +It only took 10 years! 😂 + +Edit: Thanks for all the upvotes! You guys are awesome! + +A little more background information! + +I tried the best I could to not incur school debt, but I was a first generation high school graduate and definitely had no idea what I was doing. In the end, I borrowed ~$30,000 for school loans, which in the grand scheme of things wasn't much, but I'm glad to be out from under it. + +I took the semester off between high school and starting at community college. I worked 84 hours a week and saved up a tidy sum to help me through the first semester. I had a pretty decent scholarship/grant package that paid my tuition for my first 2 years of community college. I worked part-time in my field to gain experience. I transferred to a Big 10 School, and received a similar financial aid deal for tuition, working full time in the summer. + +I used student loans to buffer my paltry paychecks, allowing me to live in an off-campus apartment, by myself, and save my sanity. I also used some money to travel, and to attend lots of work shops related to my field. I worked an AmeriCorps stint after graduation that paid a lump sum toward my loans, but the rest has been diligently plugging away at them. +My partner has just received a letter from HMRC notifying her that she has a £1,200 fine for not filing a tax self assessment for the tax year ended 5th April 2020. + +The letter details that £900 is for her being 3 months late (“a daily penalty of £10 a day for a maximum of 90 days”) - and then a further £300 is for her being 6 months late (“you have been charged the minimum filing penalty of £300”). + +I accept that she(we) failed to file a self assessment tax return when she should have and understand that she should therefore be subject to a fine. + +However, my problem with this is that this is the first time we’ve received a letter notifying her of this. +Surely HMRC should have notified her that she was subject to a fine as soon as the allowed date had passed? +Instead, we haven’t heard anything until they’ve let the fine rack up to this huge amount. + +Not sure if it makes a difference, but to add a bit of extra information she only earned £1,587.31 in the tax year in question. + +A £1,200 fine would be financially crippling, so does anybody have any advice as to what we can do in this situation? +One of the biggest pieces of business news last week was that OnlyFans was going to bar [sexually explicit videos starting from October.](https://www.bloomberg.com/news/articles/2021-08-19/onlyfans-to-block-sexually-explicit-videos-starting-in-october) + +[ ](https://preview.redd.it/pnvk7vd7rwi71.png?width=1456&format=png&auto=webp&s=0a327ec81ec9420d0a630b96d1dac2f39e527487) + +After the initial uproar and wave of memes, there was a lot of discussion around why a company whose main income stream is from adult content decided to kill its golden goose. + +**Was it because they are idiots, or because of any new regulations, or is there something much larger at play here?** + +For this week’s analysis, I would be focusing on the company’s history and my take on why they did what they did and future implications for them. So, strap in while I take one for the team with my search history and ad recommendations going into questionable territory for the considerable future. + +**The Company** + +OnlyFans was launched by Timothy Stokely in 2016. His pitch was simple but effective. + +>Why not create a platform that allows these entertainers to conveniently and securely monetize their content? OnlyFans would be like a social media platform with a feed, similar to that of Instagram and Twitter, except that fans are required to pay a monthly subscription to view the content of these entertainers. And if they are willing to pay more, they could unlock paywalls for even more valuable services. + +The company was extremely successful and now hosts more than 2 million content creators. It has a user base of **130 million**. Even though the service is pitched as a website for content creators such as physical fitness experts, musicians, etc., it’s predominantly known for its adult entertainment category. + +The company had explosive growth during the pandemic with its revenue rising by 540% to reach $400MM. As per a [leaked pitch deck obtained by Axios](https://www.axios.com/onlyfans-investors-struggle-9cc92523-6607-40ad-9893-4175e7966b52.html) (ironically, the company never mentions p\*rn in its pitch deck), it’s expected to create a whopping $2.5B in revenue by 2022. + +**The Problem** + +So, if the growth is great and the user base is becoming more and more engaged, why did the company decide to shoot itself in the foot? + +As with most issues in a company, the problem lies with money! They are facing serious challenges in both the revenue stream as well as investor capital. + +**Investor Capital** + +[ ](https://reddit.com/link/p9c40n/video/9j9ld579rwi71/player) + +Even with the explosive growth, it’s not like investors are lining up for the fundraising. It would be a walk in the park to raise funding for any other company with its growth trajectory and profitability. But there are multiple challenges in the case of OnlyFans: + +* Some VC funds are prohibited from investing in adult content as part of their partnership agreements. +* Even though OnlyFans has a verification process, the risk of minors creating subscription accounts is real and will do irreversible reputation damage for both the company and its investors. + +Even if the investors could look past all of this as the company looks to raise [new funding at unicorn valuation](https://www.bloomberg.com/news/articles/2021-06-16/onlyfans-is-said-to-seek-funding-at-valuation-above-1-billion), OnlyFans has a reputation problem. Even if the brand could move on to a “safe for work” platform, the history associated with the brand is synonymous with adult content. + +Given its history, it would be extremely difficult to attract brand partners and big names into the platform. The presence of big names is a must for a platform trying to become a more mainstream media site! + +**Payment Processing** + +While brand imaging and raising capital might be a longer-term problem for the company, the more pressing issue is a [BBC investigation into how the company handles illegal content](https://www.bbc.com/news/uk-58255865) and its ramifications. If you thought Google had monopolistic power, let me introduce you to + +[ ](https://preview.redd.it/8gbqxkoarwi71.png?width=300&format=png&auto=webp&s=b06ee9eae8728233acddce68ae30930bb7199e12) + +Visa and Mastercard combinedly process [more than 90% of transactions and 75% of transaction volume](https://fortunly.com/articles/credit-card-market-share/#gref) of all Credit card purchases in the US. In Dec 2020, after a NY Times article about how P\*rnHub monetizes illegal content, both Visa and Mastercard cut off payments to the site within 6 days! \[1\]. This caused them to remove 70% of all content (unverified) on their website (aka The Purge) to try and get the payment platforms on board. Visa and Mastercard still won’t work with the company even after all the drastic actions taken by P\*rnHub. + +Given that the OnlyFans platform doesn’t show any ads, they would be dead in the water if their direct payment takes a hit. In April, Mastercard had announced a change to their policy \[2\] that requires this: + +>The banks that connect merchants to our network... to certify that the seller of adult content has effective controls in place to monitor, block and, where necessary, take down all illegal content. + +The policy will come into effect on October 15th and OnlyFans is trying to be compliant by the time the policy is enforced \[3\] and it seems like they are going by the logic that desperate times require desperate measures \[4\]!   + +**What now?** + +The Billion dollar question is whether OnlyFans would go the way Tumblr went (Tumblr was [once valued at $1.1B and was sold later for $3M](https://www.dignited.com/51316/tumblr-sold-3m-wordpress/)) after they banned all adult content on their website. + +[ ](https://preview.redd.it/i1h0xevbrwi71.png?width=1149&format=png&auto=webp&s=cef714372f724621d74b34c7a1d71bbea6b3553b) + +It seems that OnlyFan’s aspirations of becoming a mainstream media company and increasing regulations by payment partners are forcing the company to abandon the adult segment. While we currently don’t have an insight into their revenue split, it’s safe to say that a majority of it would be coming from the adult segment which would make the pivot even harder to pull off successfully. + +I don’t know a single company that has survived after throwing their most loyal userbase and revenue generators under the bus for greener pastures! Maybe they are just concerned about their short-term survival and were forced to make this decision. But dropping the same folks who made you popular in the first place is definitely going to leave a bad aftertaste. + +After all, what do *we* know? Running a billion-dollar company is a [very serious business!](https://www.youtube.com/watch?v=ROaj3bCpZEM&ab_channel=InternetHistorian) + +Until next week! + +**Footnotes** + +\[1\] This would cause all normal credit card transactions to fail and then the only way for them to charge would be to directly get paid to their bank accounts or via crypto, both of which would be extremely difficult to process and scale. + +\[2\] While there is a lot of chatter around how certain groups lobbied Mastercard to change their policy, I am not getting into that as it would inevitably take a political turn. + +\[3\] To put this into perspective, if 4 companies (Visa, Mastercard, AmEx, and Discover) cut off your payment pipeline, you would effectively have no way to charge your customer! + +\[4\] There is a lot of conversation around how this is a once-in-a-lifetime opportunity for crypto to shine with the decentralized payment system. + +\[5\] Granted, they were already seeing reduced engagement prior to the ban, but the adult content ban was the final nail in the coffin! [This](https://www.youtube.com/watch?v=CtUuab1Aqg0&t=162s&ab_channel=CollegeHumor) is a hilarious parody video of Tumblr CEO explaining the ban! + +\[6\]Apologies for filtering out all the adult words as I didn’t want to get tagged in spam filters. + +*As always, please note that I am not a financial advisor.* Hope you enjoyed this week’s analysis. +I was going through the total returns of hedge funds vs S&P when starting at the same date, and SPY almost always has the higher percentage total return. Why hasn't a hedge fund bought Bull leveraged ETFs? Im aware that since the leveraged ETF resets daily that losses could be magnified in the event of a market crash, but that could be played off to investors as one bad year out of almost a decade. And in the meantime for 5-8 years (in-between crashes) you could boast annual returns hardly matched by few consistently. What am I missing? +Buying in now is buying cheap, compared to the ATH vs BTC over the summer where ETH peaked around ~0.15 per BTC. + +Currently, around ~0.053 BTC, ETH would need to more than double to reach previous highs. This should give new traders/investors some confidence for starting a position now, even though we hitting new highs vs USD. Remember - everything is relative, and in this case, most relative to BTC. +Ever since I started trading almost 7 years ago, Monday has always been my favourite day of the week. Trading gives me purpose. + +Admittedly, I had a rough three weeks (last week of June, first two weeks of July). Looking back, I had red weeks for three weeks straight. Not a big deal in terms of my larger risk management (currently down 6.25% in July.) +However, despite my losses, I'm still fired up for the weeks to come. I truly love this game, and I love Mondays. + +Just wanted to post and wish everyone a blessed week(s) to come. Much love and good luck! + +PS: What's your favourite day of the week and why? +We just received notice that my employer is shuttering my group at the end of January, and will be laying off just about the entire team. People still employed on Jan 31 will receive two months’ severance. People who voluntarily leave before will not be entitled to any. I feel pretty confident I can find something by then, but would it be unethical to ask to start my new job in February so I can get that severance? + +Edit: thanks all for your input!! +So I've been a buy and hold for a long time, first in spy and now have about $200k in qqq (RRSP and TFSA). + +I was thinking instead of 200k on qqqs just get in the money leaps on qqqs (to mirror the performance). That would cost roughly 30k leaving me with $170k in cash. + +As far as I know if qqqs go up I'm all good same as just holding ETFs. If there is a crash or correction I'll have $170k to buy when it's lower/going down. I believe I can also roll out leaps to later date to avoid them expiring worthless and just wait it out. + +To counter leaps decay I can sell out of the money calls or strangle Q's in my margin account. + +Thoughts or ideas? Will a leap be manageable that way? Or with a crash it will just go to 0 and can't be salvaged? +Disney is restructuring its media and entertainment divisions, as streaming becomes the most important facet of the company’s media business. + +On Monday, the company revealed that in order to further accelerate its direct-to-consumer strategy, it would be centralizing its media businesses into a single organization that will be responsible for content distribution, ad sales and Disney+. + +Shares of the company jumped more than 5% during after-hours trading following the announcement. + +The move by Disney comes as the global coronavirus pandemic has crippled its theatrical business and ushered more customers toward its streaming options. As of August, Disney has 100 million paid subscribers across its streaming offerings, more than half of whom are subscribers to Disney+. + +“I would not characterize it as a response to Covid,” CEO Bob Chapek told CNBC’s Julia Boorstin on “Closing Bell” on Monday. “I would say Covid accelerated the rate at which we made this transition, but this transition was going to happen anyway.” + +“We are tilting the scale pretty dramatically [toward streaming],” Chapek said on “Closing Bell,” noting that the company is looking at all investments, **including dividends**, as it seeks to increase its spend on new content. Chapek said the board of directors will have the final say on Disney’s dividend payouts. + +Only last week, activist investor Dan Loeb called on Chapek to end the company’s annual $3 billion dividend to divert more capital to new Disney+ content. + +Loeb’s Third Point Capital is one of Disney’s largest shareholders and bought more shares earlier this year in support of Disney’s repositioning around Disney+, its flagship subscription streaming service. + +Loeb told CNBC, “We are pleased to see that Disney is focused on the same opportunity that makes us such enthusiastic shareholders: investing heavily in the DTC business, positioning Disney to thrive in the next era of entertainment.” + +Chapek said the reorganization could result in some reduction of staff, but not likely at the same scale as was seen at the company’s parks division last month. Disney was forced to lay off around 28,000 workers after it became clear that its Disneyland parks in California would not be reopening soon. + +As part of this reorganization, Disney has promoted Kareem Daniel, the former president of consumer products, games and publishing. He will now oversee the new media and entertainment distribution group. + +He’ll be in charge of making sure streaming becomes profitable, as the company continues to invest heavily in its various streaming products. Daniel will hold the reins to all of the company’s streaming services and domestic television networks, including all content distribution, sales and advertising. + +Disney is becoming more reliant on Disney+ as movie theaters have been unable to recover after being shuttered in March due to the outbreak. Ticket sales have been particularly lackluster at domestic cinemas since the industry attempted a large-scale reopening in late August. + +In recent months, the company pushed back a number of its theatrical releases including its Marvel blockbuster “Black Widow.” The much anticipated Pixar film “Soul” has also been postponed. It will now arrive on Disney+ in December. + +Analysts are still awaiting word from Disney about how “Mulan” fared after Disney removed it from theatrical release and sold it through Disney+ for $30. It is expected the company will share more details about its performance during its next earnings report in November. + +Daniel will be responsible, in part, for making big decisions about Disney’s theatrical and streaming release schedules going forward. + +″[Consumers] are going to lead us,” Chapek said on “Closing Bell.” “Right now they are voting with their pocketbooks, and they are voting very heavily toward Disney+. We want to make sure that we are going the way the consumers want us to go.” + +**Reorganizing Disney’s media business** + +Alan Horn and Alan Bergman will remain in charge of the company’s studios, Peter Rice will continue to head the company’s general entertainment group, and James Pitaro will stay as head of the company’s sports content. + +All will report directly to CEO Bob Chapek. The company’s parks, experiences and products segment will remain under the leadership of Josh D’Amaro, and Rebecca Campbell will remain on as the chairman of direct-to-consumer and international operations. Campbell will report directly to Chapek for all things related to international operations but will report to Daniel when it comes to Disney+, Hulu and ESPN+. + +“Given the incredible success of Disney+ and our plans to accelerate our direct-to-consumer business, we are strategically positioning our Company to more effectively support our growth strategy and increase shareholder value,” Chapek said in a statement announcing the reorganization. ��Managing content creation distinct from distribution will allow us to be more effective and nimble in making the content consumers want most, delivered in the way they prefer to consume it.” + +Under Horn and Bergman, the studios segment will focus on creating content for theatrical release, Disney+ and Hulu. Walt Disney Studios, Marvel Studios, Pixar Animation Studios, Walt Disney Animation Studios, Lucasfilm, 20th Century Studios and Searchlight Pictures all fall under their purview. + +Rice’s general entertainment segment includes 20th Television, ABC Signature and Touchstone Television, ABC News, Disney Channels, Freeform, FX and National Geographic. + +As for Pitaro’s sports segment, that will focus on live sports programming, sports news and original and nonscripted sports-related content across ESPN, ESPN+ and ABC. + +Daniel’s media and entertainment distribution group will manage all distribution, operations, sales and advertising across the three content groups. Daniel has spent 14 years with the company in a variety of positions. He helped transform Disney’s Star Wars property into the two Star Wars: Galaxy’s Edge lands in Disney World and Disneyland as well as aided in bringing Toy Story Land, Pixar Pier and Avengers Campus to the parks. + +“Kareem is an exceptionally talented, innovative and forward-looking leader, with a strong track record for developing and implementing successful global content distribution and commercialization strategies,” said Chapek. + +This new structure is effective immediately. The company currently expects to transition its financial reporting to reflect these changes beginning in the first quarter of fiscal 2021. + +Additionally, Disney announced that it will hold a virtual investor day on Dec. 10. + +&nbsp; + +Source - https://www.cnbc.com/2020/10/12/disney-reorganizes-to-focus-on-streaming-direct-to-consumer.html +## Launching our latest wiki page: UK income and wealth statistics! + +We have painstakingly gathered some big-picture info on income and wealth in the UK from [the Office for National Statistics](https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork) - it's available by age, region, household, and more. Check it out if that's of interest: + +**https://ukpersonal.finance/statistics/** + +Any feedback on ways to improve this page is welcome, just comment here or [join us on Discord](https://discord.gg/kaetMg8). + +## I know a song that gets on everybody's nerves, and this is how it goes + +I'm sure we've all noticed that we've had an influx of posts recently from relatively high-earning/well-off posters: + +* Wanting to know if they're doing okay +* Anxious about their standard of living, ability to save or buy a house etc +* Asking what to do with their savings and income +* Trying to understand and optimise their tax and pension situations + +We want everyone of all income levels to be able to get assistance from the UKPF community about both practical and psychological aspects of personal finances. And wealthy or high income people aren't immune to anxiety, getting affected by the current bleak headlines, or general cluelessness about finances. + +However it is obviously frustrating to read quite so many posts from high earners anxious about their financial future, especially when they make others feel bad about their own situations. + +####Please help us to keep the sub a helpful and healthy place for all by: + +**1: Alert us about rulebreaking posts** + +* Report clickbait/ragebait as trolling. If it's not an intentional troll we can help OP phrase their post better to avoid raising the blood pressure of everyone who reads it (more on this below). +* Report 'is £x a good amount?!' posts as 'comparison post', and we'll remove with a message directing them to the [nice new stats page](https://ukpersonal.finance/statistics/). +* Report 'I have £x, what should I do with it?' posts as 'read wiki' and we'll remove and direct them to the relevant pages (such as [the flowchart](https://ukpersonal.finance/flowchart/), [student loans](https://ukpersonal.finance/student-loans/), [BTL](https://ukpersonal.finance/buy-to-let/) and so on). +* Same for tax efficiency for high earners, [we have a wiki page for that](https://ukpersonal.finance/tax-efficiency-for-high-earners/). + +To be clear, 'no comparisons' and 'check the wiki first' are existing rules which apply to all posters. We normally give posters lots of leeway though, especially once posts have gathered substantive discussion, as we don't want to delete people's thoughtful and helpful comments. But in cases where the post is also causing everyone who reads it psychic damage, if the OP is answered on the wiki, we'll just remove even if we're at 100 comments and counting. + +**2: When commenting, keep being your chill and helpful selves** + +If posts are within the rules but just a bit frustrating because OP doesn't seem to have a sense of perspective, please either engage with them politely, or move on. + +Engaging politely can absolutely include explaining to them *why* their post is frustrating to read, but it can't include calling them names, insulting their intelligence, calling the post a humble brag etc. If you see comments along these lines, please report them. We will remove and (temp) ban. + +If the post is truly irresistible bait we will likely remove and/or lock it. + +**3: When posting, provide sufficient detail** + +High earner/net worth posters, as mentioned above, do take the time to read any [wiki pages](https://ukpersonal.finance/) relevant to your query and mention you've done so. That [stats page](https://ukpersonal.finance/statistics/) can help give you perspective on your relative position, which may change how you feel about it. + +If you're still worried, put together some numbers together before you post so you can be specific about why. If you're not sure you can afford to rent in area X, give us your current and expected budgets. If you're working on longer term planning such as house buying or retirement, provide the relevant info such as your target property price or retirement income, current savings and savings rate, timeline etc. + +Providing this detail will help you get much more relevant and specific answers while avoiding frustrating people with posts that come across as vague requests for reassurance. +A quote from Satoshi Nakamoto: + +It's the same situation as gold and gold mining. The marginal cost of gold mining tends to stay near the price of gold. Gold mining is a waste, but that waste is far less than the utility of having gold available as a medium of exchange. + +I think the case will be the same for Bitcoin. The utility of the exchanges made possible by Bitcoin will far exceed the cost of electricity used. Therefore, not having Bitcoin would be the net waste. +Moonbud ($MBUD) launched just five days ago on the BSC (Binance Smart Chain) and already made remarkable progress in achieving its vision. Its transaction fee of 5%, with a breakdown of 2% for distributing back to holders, 1% that continuously burns and 2% that goes to its charity wallet ensures that as long as there is volume, this coin can fulfill its mission. + +&#x200B; + +What makes this token special is its vision. It is charity-driven, which has attracted over 5,000 Holders in less than five days. A whopping SIX FIGURES sum was raised for animal charity donation in less than one week, making it possibly the biggest crypto donation for a small mcap token. Next weekend, it will make its first six-figure donation, and the plan is to do it every weekend consistently. + +&#x200B; + +The $MBUD team has teased us with multiple updates regarding the coin's future, including: + +&#x200B; + +* Brand new website and logo, both made by professionals in the field +* Heavy marketing, including IG, Tiktok and Youtube influencers (many already locked down) +* Imminent Coingecko and Coinmarketcap listings +* Weekly charity donations, starting with 6 figures (the plan is to reach 7 figures and beyond, obtaining MSM attention in the UK) +* Top tier NFTs in development + +&#x200B; + +I can’t wait to see the future of Moonbud. This project is unlike any other project – this one is meaningful. Calling all my fellow doggo lovers to support this project and see it through. + +&#x200B; + +Links: + +&#x200B; + +Buy it here: [https://v1exchange.pancakeswap.finance/#/swap?outputCurrency=0xbe8183612f145986a41ad8e8fcfefed1c2f9deba](https://v1exchange.pancakeswap.finance/#/swap?outputCurrency=0xbe8183612f145986a41ad8e8fcfefed1c2f9deba) + +Solidity Audit report: [https://solidity.finance/audits/Moonbud/](https://solidity.finance/audits/Moonbud/) + +Live chart: [https://poocoin.app/tokens/0xbe8183612f145986a41ad8e8fcfefed1c2f9deba](https://poocoin.app/tokens/0xbe8183612f145986a41ad8e8fcfefed1c2f9deba) + +Website(new version next week): [https://www.moonbud.space/](https://www.moonbud.space/) + +Telegram: [https://t.me/moonbudofficial](https://t.me/moonbudofficial) + +Twitter: [https://twitter.com/MoonBud\_Coin](https://twitter.com/MoonBud_Coin) + +Bscscan: [https://bscscan.com/token/0xbe8183612f145986a41ad8e8fcfefed1c2f9deba](https://bscscan.com/token/0xbe8183612f145986a41ad8e8fcfefed1c2f9deba) + +Subreddit: r/moonbud + +&#x200B; + +Note: If it says “price impact too high” on pancake swap you must click the “v1 old” button on pancakeswap +Let me be perfectly clear, Ken is absolutely fucked. + +Since when did we start listening to corporate media. + +Citadel are never going to have the chance to go public. + +Corporate media is trying to shake apes prior to earnings call + +Ken doesn't have the cash to buy a football club, you saw the balance sheet. + +No-one had heard the name Ken Grffin 18 months ago, now he's a tabloid celebrity + +Ken is short a billion+ GME shares + +Ken attacked his wife with a bedpost + +Ken sleeps next to a jar of full fat mayo + +Buy HODL DRS + +MOASS is tomorrow ✌🚀🍀 + +And if I'm wrong then I live near Chelsea, and we can have a whip round to put $GME billboards on all four corners of the ground. +As the title says, I am trying to decide between lump sum investing 10K+ into voo given the market being down so much or DCA like 1K over 10 weeks. What is the consensus on the best strategy? +- The U.S. economy suffered its worst period ever in the second quarter, with GDP falling 32.9%. +- Economists surveyed by Dow Jones were looking for a decline of 34.7%. + +The U.S. economy saw the biggest plunge in activity it has ever known in the second quarter, though it wasn't quite as bad as feared. + +Gross domestic product from April to June plunged 32.9%, according to the Commerce Department's first reading on the data released Thursday. Economists surveyed by Dow Jones had been looking for a drop of 34.7%. + +Still, it was the worst drop ever, with the closest previously coming in mid-1921. + +Sharp contractions in personal consumption, exports, inventories, investment and spending by state and local governments all converged to bring down GDP, which is the combined tally of all goods and services produced during the period. + +Spending slid in health care and goods such as clothing and footwear. Inventory investment drops were led by motor vehicle dealers, while equipment spending and new family housing took hits when it came to investment. + +Prices for domestic purchases, a key inflation indicator, fell 1.5% for the period, compared to a 1.4% increase in the first quarter when GDP fell 5%, The personal consumption expenditures price index dropped 1.9% after rising a tepid 1.3% in Q1. Excluding food and energy, the "core" PCE prices were off 1.1%. + +However, personal income soared, thanks in large part to government transfer payments associated with the coronavorus pandemic. Current-dollar personal income rose more than six-fold to $1.39 trillion, while disposable personal income shot up 42.1% to $1.53 trillion. + +Despite the rise, personal outlays tumbled by $1.57 trillion, due in large part to a drop in services spending. + +Not the Great Depression nor the Great Recession nor any of the more than three dozen economic slumps over the past two centuries have ever caused such a sharp drain over so short a period of time. + +By comparison, the worst quarter during the financial crisis of 2008 was the 8.4% GDP drop in the fourth quarter of that year. The previous low-water mark was a 10% slide in the first quarter of 1958, while the worst in recorded history came in Q2 of 1921. + +This particular tumble in activity owes to a different source than any of its predecessors: a government-induced shutdown aimed at combating Covid-19. + +Workers across the country were told to stay home from any job not considered essential, resulting in a crushing halt that saw the unemployment rate peak at 14.7%, a post-Depression high. The National Bureau of Economic Research said the current recession actually started in February, a month before the pandemic declaration. First-quarter GDP fell 5%. +Hey guys I'm looking forward to forex trading and I want to start with a 100$ account on May. Will I be able to make it grow to 1000$ or even 10,000$ account if I trade daily for four months. +What are your experiences and what do you guys think I can make the account worth within four months +What's a stock you own that has real upside potential? + +Everyone knows about Apple, Amazon, Facebook, etc.... + +But, what is that stock you own that little to know one else knows about? Give a brief explanation why you're bullish..... +One of my favorite FIRE related podcasts is [Paula Pant's, "Afford Anything](http://podcast.affordanything.com/listen/)". You can imagine my surprise when I opened Overcast and saw the title of her latest episode with [Suze Orman, titled, "Why I Hate the FIRE Movement".](http://podcast.affordanything.com/153-hate-fire-movement-suze-orman/) + +&#x200B; + +It's a controversial episode to say the least. My first reaction was to feel angst and a bit of disenchantment with what Suze says about FIRE and how 1, 2, or 3 million dollars isn't enough. It took the wind out of my sails for a few minutes until hearing her go to such an extreme with saying expenses could hit a million a year, etc. It's hard to hear someone who is worth $50 million+ rant about how one can't live responsibly on $80,000/yr in order to prioritize freedom, time, etc. + +&#x200B; + +Fortunately, the FIRE community provides solid data, tools, methods and a community to support the mentality that Paula summarizes so well in the last 10 minutes of the episode. + +&#x200B; + +I'm sure Paula would appreciate if most commentary and discussion would take place on her blog, FB, or Instagram, but I just thought I'd get the ball rolling with this amazing community. + +&#x200B; + +\[I have no affiliation with Paula, but just felt as if it was the right thing to do linking her original work. Please correct me if I should't have linked?\] +I’ve finally made it to FIRE and no longer need to be a pretty boy and display my flair. Friday is my last day at the office. I know you guys like detailed breakdowns of net worth growth and the like, but I don’t really have that. For whatever reason, I always just overwrote my spreadsheets from my last quarterly update. I guess I wasn’t all that concerned with the trajectory, only the final number. But I’m willing to share what I do have, both how I got here and where I’m going. + +(Unless otherwise noted, all numbers below are combined for my wife and I, despite me writing in the first person. She’s cool with that, I checked. We hold only a stock/bond portfolio and have no other investments.) + +Here’s what I can tell you. I had $700k at the start of 2017 with a minimum FIRE goal of $900k ($36k/yr at 4%WR), which I would’ve hit my savings and a 0% return for 2017 and 2018. Considering that the next bear market was imminent at that time (just like now if you listen to the pundits), I made a plan to work those two years before re-evaluating. As I’m sure you’re aware, 2017 market returns were big (20+% US, 27%+ Int’l), and I hit $1MM in early 2018. This bounced around some as 2018 was fairly volatile, and I lost my second comma at the end of 2018. They’ve since bounced back and I currently have about $1.1MM. We picked our retirement date of 4/19/19 back in October 2018. It’s Good Friday, and it will most definitely be a good friday. + +I’m 42 years old and have never made 6 figures. In fact, I never even broke $50k/yr until age 38. My wife is 41, and she has never made 6 figures either, but generally always out-earned me (except for two absolutely glorious months back in 2017). We have no kids, but that was decided well before we even knew FIRE was a thing. I work as a non-CPA accountant (A/R) and I always pay attention to the mundane details and put the decimal point in the right place. She works for a major hotel chain and knows a lot about TPS reports. We have always lived in HCOL areas, first in Chicago (2001-2009) and then in Silicon Valley (2010 - present). As such, our real talent is living a good life while not spending much money. The last few years, we’ve spent right around $45k/yr, which I feel is pretty damn good for around here. Many of my coworkers spend that amount on housing alone. + +We keep our costs down in lots of practical ways. I’ve been a full time bike commuter for 5 years. We cook nearly every meal at home, eating out less than once a month, and even then it’s usually pho or something pretty cheap. We split one car, a 15 year old VW. We have the cheapest apartment of anyone I’ve ever met, currently at a high water mark of $1700/mo. It’s definitely a bit old and rundown, but it fits our needs and the neighbors are nice. We still live a very similar lifestyle to when we first met in our early 20s and had little money and I still rock my same Swingline stapler. + +We weren’t always great at saving a bunch of money, but we worked up to it. When starting our first jobs, we each (independently) started contributing around 15% to our 401ks. And then we increased that percentage with each raise. But sometime in 2013, I stumbled upon MMM and was instantly hooked. I accepted those face punches graciously and we really kicked our savings up a couple of notches from then on. This also coincided with our peak earning years and a booming stock market, and suddenly early retirement seemed so much more accessible instead of some far off dream. + +About our only discretionary spending that moves the needle is on travel. We have always loved to travel together. We both currently work for companies in the travel industry, so we get a lot of company help. This was the best part about work the last few years. Just over this time, we took trips to Paris, Hawaii, Jamaica, Tahoe, and Vietnam that were at least partially subsidized by our employers. We even squeezed a few full priced trips in there too. Now, we are turning our travel up to 11 by going full nomad and plan to travel indefinitely without a home base. + +I'm not planning a static withdrawal rate. Instead I will use a variable withdrawal rate, with planned cutbacks when returns are negative (knocking us below our starting point) with the option to increase after years with big gains. My base spending estimate is $36k/yr which is about 3.25% of my current portfolio, but again, that will fluctuate. I will probably try to keep it under $36k/yr until weathering my first recession. The idea is that we can live a reasonably similar lifestyle but at different price points based on whether we’re sticking to cheaper countries or more expensive ones. As such, cutting back should not be painful like a case of the Mondays, it will just involve moving slower and/or staying in cheaper places longer. + +In general, I do not know how long we will travel or how much we’ll enjoy it. I think it’ll be great, which is why we’re doing it, but it’s hard to know until it actually happens. If we were to call it quits after only a few years, it’s entirely possible that one or both of us would need to work part time selling magazine subscriptions door to door (beats working at Intertrode) if we decide to move back to the US permanently. I hope it doesn’t come to that though. Ideally we slow travel for decades using a fairly low WR, cutting spending as needed, and our portfolio grows. This would allow more flexibility to increase spending as we age, whether that’s while still traveling or settling back in the US. I imagine travel in my 60s will require more comfort that travel in my 40s, so I’m trying to plan for that. + +As it stands, I am not planning to carry health insurance while traveling, instead opting to just pay cash as needed like the locals do. I have a couple of months before we get on a plane, so I will research options further, but from what I’ve found so far, it’s not going to be worth it. When returning to the US to visit friends and family, I will buy a temporary high deductible catastrophic plan though. Obviously I cannot be in the US even for any period of time without insurance. (Hey USA, what’s happening? If you could go ahead and work on getting us up to developed world standards while we’re out galavanting around the world, that would be great. Mmmmkay?) + +I hold a lazy portfolio consisting of all index funds. Total AA is 40/30/30 US/Int’l/Bonds. I have decided against using a bond tent. Originally, I thought about starting at 60/40 stock/bond and shifting this to 80/20 over 5 or 10 years. Instead, I just decided to go with 70/30 and stick with it. The backtest results are similar, and this fits better with my general [KISS](https://en.wikipedia.org/wiki/KISS_principle) investing plan. + +I do the vast majority of my posting on this sub while at work when I don’t have meetings with the Bobs, so I’m not expecting to continue contributing at my current rate. I don’t plan to disappear entirely, but will likely shift from resident genius know-it-all to focusing more on the post-FIRE aspect. :) + +That’s about all I can think of. Got questions? Fire away and I’ll do my best to answer them. + +TL;DR FIRE’ing at age 42 with about $1.1M for two people with a plan to spend ~$36k/yr (variable) while traveling the world indefinitely. Never made 6 figures or even really close, just figured out how to enjoy life without spending much money and invested consistently over time. Office Space is one of the best movies ever made. +So, I was about to walk into a casino - no, the plagiarism stops there. That being said lets say Im a gambler (which I am) and I walk into the casino that is the NYSE (or so WSB thinks) and Bill Ackman says "Hey so... - actually lets stop this one here too, was getting too close to a bad sequel + +# What is the Kelly Criterion for Thetagang? + +so the Kelly Criterion is specific, in the case of the previous post it was "2 sequential bets" and what that means is that you can use the Kelly formula to compute the amount to bet **at each stage/bet.** Now, thats awesome, but who is placing only one bet when they're managing a portfolio at a time? in my case (since im a gambler) when am I just placing one bet at a time - im not. So where does this take us? + +**Kelly Criterion for Simultaneous Positions (those taken at a similar time) will not be the same as the individual Kelly Criteria** + +so this is the internet and you might not believe me, well, ill link an article written by [Ed Thorp himself](http://www.eecs.harvard.edu/cs286r/courses/fall12/papers/Thorpe_KellyCriterion2007.pdf) as well as include the following excerpt: + +[This is a mathematical proof that tldr says \\"The Kelly Changes for Simultaneous Independent Positions\\"](https://preview.redd.it/ek3u4wnxn3s61.png?width=2184&format=png&auto=webp&s=b92a0f9518b2f65d092135c61c29aca745183245) + +well, shit what do we do? do we ignore the Kelly Criterion if this does work?? The answer for me was actually to code the above proof generalized for many bets - basically the computer does the algebra and the optimization for what youre trying to find but more about that later + +# Well.. Im Confused, How does this apply to thetagang strategies? + +This is the key, and honestly something I do so maybe you'd find it useful - how can we find the relevant values to find the "Kelly Criterion" for stocks? Theyre not fixed payoff?? the answer - **Covered Calls and Covered Puts -** each of these acts as a "limit sell" or "stop loss" at a given price and so you know what your payoffs are - example time: + +How much should I place at a maximum on a pair of CC and CP? - just find your ROI to the CC strike, the ROI to the CP strike for each, and then estimate what you think the probability will be for each to happen! with this information, you have a simultaneous Kelly Criterion for each **given** that you are taking more than one position + +# Wait but this is not easy to calculate for many options/what exactly is the formula? + +This is what im sharing, I have been using [the code](https://drive.google.com/drive/folders/1UQtF0O8mh7rRTxajFcMROJ-rrjm-oxfR?usp=sharing) I created for a while and given that there seems to be interest in Kelly, I want to share the code here - now, this goes to the mods,[I am linking a web app](https://themathematicalbetslip.herokuapp.com) as I know that **coding is not accessible to all** and there is no reason that it cannot be made to be accessible - which is why I did exactly that as you can see in the photos below, you just need to put in your numbers and it does all the math for you - please ask for clarifications when necessary (I threw this together quickly so there will be bugs but if you just DM me there isn't anything we cant fix if its helpful to you) + +[So, I tried to make the labels clear, this is in the \\"Kelly Simultaneous Stocks\\"](https://preview.redd.it/rdparhl2v3s61.png?width=2598&format=png&auto=webp&s=d2847409d2e1322b2a40651b6677cdb78b6b1fa3) + +[These are the results for the CC CP case of target up 15&#37; and 16&#37;, target down 20&#37; and 21&#37;, with probabilities as shown.](https://preview.redd.it/t3mkk84qv3s61.png?width=1130&format=png&auto=webp&s=137074cf2fc95d4588062b94d805780bde9bf673) + +I am also [sharing the code](https://drive.google.com/drive/folders/1UQtF0O8mh7rRTxajFcMROJ-rrjm-oxfR?usp=sharing) here if there are people who want to sift through and implement it into strategies they have, really just here to try to share the resources ive created that pertain to a topic that people seem to find interesting! + +So basically, you now have a way to beat the dealer and I have no doubt you will! +I don't know why this isn't being talked about more but VIX was climbing fast last week and by all indications it looked like we were well on our way to a hell of a market correction. My understanding of options and other derivatives is rudimentary at best. Please take these questions, discussion and speculation with those caveats in mind. + +It's been speculated by some redditors over in the 'bets sub that a single entity (or multiple entities coordinated by a single entity) performed an absolutely massive intervention in the options market that squelched a negative gamma squeeze and smashed VIX. It's speculated that this was ostensibly to avert an all-but-certain market crash since the profitability of such a manoeuvre is limited at best and carries with it insane risk that no private institution would reasonably undertake. If you search under 'new' for "Market Manipulation" in that sub it's easy to find the thread with this speculation. + +I know what I saw with VIX. It surpassed the value reached during the 'sneeze' and then magically dropped during the afternoon of January 25th for no apparent reason. My question is how reasonable is this speculation? And more importantly as it relates to Gamestop how applicable is this speculation to a short squeeze? The DD around MOASS suggests that a positive gamma-ramp and gamma-squeeze is an important precursor. Is there an inverse method for squelching a positive gamma squeeze? If there is, what kind of confidence can we have that it won't be deployed against our beloved stonk? +https://bloom.bg/2s6KSUw + + +He gon go to jail(probably get away with house arrest). + +>Sarah Hassan, 27, who gave Shkreli $300,000 to invest, said she got an email at 8:13 p.m. on Sept. 9, 2012, saying she was up $135,000, a return of 45 percent. At 8:44 p.m., Shkreli sent out a second email notifying Hassan and other investors he was shutting the fund down. + +Oh, and a personal fav: + +>Shkreli claimed MSMB Capital had about $40 million of assets under management in early 2011 when Hassan made her investment. In reality, the fund had about $700 in December 2010, according to prosecutors.  + +So I've been doing some scalping on pairs with high spreads in cryptocurrencies previously with great success, but I finally figured I'd give forex a real shot (was into it a few years ago, but didn't go live). Last time I scalped in crypto, I had 14 out of 14 successful trades, but only about a 10% profit. I haven't heard about anyone scalping the way I do in crypto, but I find my method extremely reliable when I just find the right pair to trade. This is just to say I have *some* experience with trading, but I'm by no means an expert. + +Now, I've been scalping the past few days with a paper trading account on TradingView. I've mostly been trading the US Currency Index, S&P 500 and some crypto pairs thus far. I'm scalping on the 1m time frame using bollinger bands and looking at trends, price action and stoch RSI for confirmation on my entries. I started out with 100k a few days ago and first doubled my account to around 200k and then did a 1,3 mill trade, but I was running like 500-1000 USD per pip, so if the market turned against me, I'd be liquidated real quick. While the trades were good, I figured I was disconnected from the risk I was taking because it isn't real money, and I wanted to try doing more conservative and realistic trades, so I reset the account yesterday. + +**Edit (more trades done):** Since the account was reset, I've done 45 trades where I've lost on two of them. If my math serves me right, that's about an 95.5% win rate. I'm up around 77.5% currently. I did lose 1500 on one trade, but that's because I by mistake placed a sell order when I was supposed to add another buy order double down on my long position, so I'm not counting that one in (but I'm not counting the 1500 I lost as profit either). I have a very strict strategy I'm sticking to when doing these scalps. I realize 45 trades is not a huge sample size, but that is kinda why I'm asking: + +**How many trades should I do on the paper trading account before I should run it live with confidence?** + +For anyone who might be interested, here's my account history: [https://imgur.com/a/zuRSWwd](https://imgur.com/a/zuRSWwd) + +Edit: here's 6 trades more: [https://imgur.com/a/CmbyU6n](https://imgur.com/a/CmbyU6n) + +Edit2: some more trades: [https://imgur.com/a/q9xqVyq](https://imgur.com/a/q9xqVyq) + +Edit3: I think we're up to 45 trades now: [https://imgur.com/a/CsWZEN7](https://imgur.com/a/CsWZEN7) +Using a throwaway account. Not at the fatFIRE point just yet but relatively close. Male in mid 30s, live in London, have had a semi-successful career in asset management helped by lots of luck and I am recently divorced. + +Question: any advice on the best practices around meeting someone for a romantic relationship with a FIRE mindset and potentially heading towards the fatFIRE camp? Unfortunately, I have spent (way too) much of my 20s and early 30s working and my circle of real friends is embarrassingly small. My work hours have been very long for most of my career (getting better recently) and besides gym, I did not see much beyond home and work limiting the amount of opportunities I have to meet someone. However, I love travelling which sounds like a great way of meeting new people but I am no longer at the stage of my life when I enjoy staying in shared rooms in hostels that is typically the recommended option for someone in this situation, and staying in nicer hotels or resorts doesn't help here with couples and families being the bulk of the guests in my experience. I looked into a few travel agencies that design tours for singles - found one that seems a popular choice here (Contiki) but it sounds like it's for a much younger crowd (not the biggest fan of pub crawls and hours spent in a bus with 30 others); is there a similar solution for people in their 30s? Dating apps in general anecdotally seem to have a low hit rate in terms of successfully matching people. Is there a similar service that actually verifies the members, and something catered for young-ish professionals? I probably don't have the sufficient courage going to bars, lounges alone and starting up conversations, plus I am not sure it's a great way of meeting someone in the first place. Thought about joining a private club in London though males is the majority of members in most of such clubs in Mayfair in London in my experience and is better suited for professional networking instead. Some of the fancier lounges over here typically host groups of friends, couples or ladies looking to earn money which is not my goal. + +I understand this might not be the most appropriate subreddit to make this post in and I would appreciate suggestions for other subreddits instead if so. A naive part of me wants an easy solution that likely doesn't exist but I would like to get others' views here as well. I also feel that meeting someone is the sort of thing that should ideally happen naturally but I would like to put more effort into this as my ordinary lifestyle makes meeting someone new relatively unlikely. + +Thanks in advance. +Tesla Inc. (TSLA) has asked some suppliers to refund a portion of what the electric-car company has spent previously, an appeal that reflects the auto maker’s urgency to sustain operations during a critical production period. + +The Silicon Valley electric car company said it is asking its suppliers for cash back to help it become profitable, according to a memo reviewed by The Wall Street Journal that was sent to a supplier last week. Tesla requested the supplier return what it calls a meaningful amount of money of its payments since 2016, according to the memo. + +The auto maker’s memo, sent by a global supply manager, described the request as essential to Tesla’s continued operation and characterized it as an investment in the car company to continue the long-term growth between both players. + +While Tesla said in the memo that all suppliers were being asked to help it become profitable, it is unclear how many were asked for a discount on contracted spending amounts retroactively. Some suppliers contacted about the request said they were unaware of such a demand. + +Tesla declined to comment on the specific memo. But it confirmed it is seeking price reductions from suppliers for projects, some of which date back to 2016, and some of which final acceptance many not yet have occurred. The company called such requests a standard part of procurement negotiations to improve its competitive advantage, especially as it ramps up Model 3 production. + +The surprising requests raise further questions about Tesla’s cash position, which has dwindled after it struggled to boost production of its first car designed for mainstream buyers, the Model 3. After months of delays, Tesla last quarter reached its longstanding goal of making 5,000 Model 3s in a single week, which, if sustained, will help it generate cash. + +Auto makers and suppliers have complicated relationships, each fighting for the best deal under immense pricing pressure. Supply chain consultants say sometimes auto makers will demand a reduction in price for a current contract going forward or use leverage of awarding a new deal to get upfront savings on a contract. But they say it is unusual for an auto maker to ask for a refund for past work. +https://www.cbsnews.com/news/2020-real-estate-forecast-still-too-expensive-for-most-people-to-buy-or-rent-a-home/ + +As a decade-long economic boom pushes into 2020, affording a home isn't expected to become much easier for the average American, according to recent reports. + +Average wage earners can't afford to buy a home in 344 of 486 counties, or 71% of the U.S., according to a fourth-quarter analysis from real estate research firm Attom Data Solutions. That's just a slight improvement from from 73% in the third quarter and 75% a year earlier, the Attom report found. + +One reason for the glacial pace of improvement? A booming real estate market amid lower mortgage rates. +**I am not a financial advisor, and this is not financial advice.** + +**Only edit:** some of you have been linking me to posts saying that my prediction was just a day early. At first, I didn't think it could be true but now I think there might be some credence because we closed at .01% today and that has only happened 2 other times (went up big the next day). Nevertheless, lets sit back and watch what happens tomorrow. Even if we bounce up tomorrow, as my DD has stated, THIS IS NOT GME MOON DAY, there will be more to cum. If nothing happens this week, I will be making a huge FTD DD in the coming days/weeks. If we pop up this week, I will be making a huge FTD DD in the coming days/weeks. Gonna stay quiet for a few days probably and will be back to you soon with more information. Stay strong, apes. + +# Sad Uncle Hank + +Apes, I come to as a humbled primate but not a dead gorilla. As many of you know, it seems that my prediction will not be panning out as I thought it would. Summary of my theory: + +https://preview.redd.it/ek4sqa1vyku61.png?width=400&format=png&auto=webp&s=a2254d18809c28330661578540b1924662c6d5a9 + +However, with this, I have learned a great deal of information about GME and its price history. I've had many chats with fellow apes about FTDs, past price data, volume, etc. and I think that we are all learning a great deal of information from each other. As many of you know, my theory was simply based on the price and volume of GME. After making that prediction, many people pointed out other patterns relating to FTDs and monthly option expiries (see the bottom of my most recent post for that). After looking into it, I think that there is really something there; however, it is going to take A LOT of digging. It will not just take one ape, it will take many apes. This will not be easy. Compared to everything else in finance and investing, FTD theory/explanations/data are sparse, so this will be a herculean endeavor. Also, I just wanted to say thank you to everyone who has interacted with posts. Whether you gave me an award, gave me an upvote, commented something nice, or called me retarded, I absolutely love doing these DDs and your responses make it worth it! + +# Where are we going? + +Some of you have said that there are signs that tomorrow could actually be what I thought would happen today. Though I'd love this, don't get your hopes up. What I've learned from today is that price and volume alone cannot help predict the price of GME. Is this because GME is manipulated or stupid? Who knows. However, I think that if we do an asinine amount of digging and truly understand FTDs, we can get to the bottom of why GME spikes up and down so often on no news or fundamental changes to the company. First, I wanted to point something out. For those who don't think that trouble is afoot on GME (essentially those who think it was just a fad), no stock goes from 350 to 172 (march 10) in the matter of two hours on absolutely no news. I could give a billion other examples but that's the most glaring. Therefore, I think that we truly need to educate ourselves on FTDs and how they affect the price of GME. This will allow us to get to the bottom of what shorts are really up to and how they work. + +Everyone talks about FTDs and the FTD cycle but it also seems that no one fully understands it or how it affects us. It seems like people just say "oh look tons of FTDs = tendies." Because of this, I believe that we need to do some DEEP digging to understand this dark side of finance. + +https://preview.redd.it/69u5hgkw0lu61.png?width=1280&format=png&auto=webp&s=7213cf897d0fadcd0d80c4b68ff07c562ad10bf5 + +Why am I saying this? As I said above, the past few days have made me realize the important of FTDs because of comments/chats from other apes. I also just realized that on 2/24 when we came back from the dead (from 40ish to 90ish in an afternoon), the media said that was because of the announcement of the ousting of the CFO. Really???? A more than 100% jump in a few hours because of a CFO? What's more suspicious is that the relative calm period between that jump and the squeeze seems to like it could fit into one of the aforementioned FTD cycle periods (i.e. huge shorts during the January squeeze, cover on 2/24). To put more gas on the fire, when Cohen was announced as god of the board a few days ago, the stock went down!! What?! Tell me how that makes any sense whatsoever especially considering how much more hype and attention GME has gotten since then. I have been a huge proponent of saying that catalysts are the key to GME, and I still believe they are, but because the price of GME goes up and down massively at random times on no news, I think that there is more afoot and that FTDs are the key to understanding how the shorts are really operating. + +Therefore, I will be doing massive research on this topic (I will explain my methods below). HOWEVER, I urge all apes who are able to do this to do their own research on FTDs and shorts so that we can get a better idea of how they work and when shorts have to repay after these massive attacks. I'd urge you to start by reading this DD about FTD cycles, as it is gold: + +[https://iamnotafinancialadvisor.com/DD/GME/og/GMEv14.pdf](https://iamnotafinancialadvisor.com/DD/GME/og/GMEv14.pdf) + +Finally, though I love chatting with all of you, please only message me about FTD stuff if you have some serious, detailed research and don't think that your account is big enough for others to see it. If you have some DD and an account that can get some traction, I encourage you to post that DD so that others can see it more quickly because I will be inactive for a little (explained below). + +# So what about you, Hank? + +https://preview.redd.it/or4ov7qd1lu61.png?width=960&format=png&auto=webp&s=483602e9d9032dbdb06dcc8615922a7ea4bbfd38 + +So, apes, to fully understand the breadth of FTDs and how they affect our baby, I will be taking a sabbatical for a few days or weeks. I will be hiding in the depths of my shed eating nothing but pringles, fig newtons, flaming hot Cheetos, and gushers. I will ONLY listen to Fifth Harmony, Megan Thee Stallion, and Linkin Park. I will only use the bathroom ONCE per day. I will only drink coconut water and WD-40. Most importantly, I will be decreasing the time I talk on the phone with my wife's boyfriend from 8 hours a day to JUST 45 FUCKING MINUTES. Now that's sacrifice. Apes, When I emerge from my shed, I hope to come to you as an enlightened primate. I hope to come to you as a primate who has earned the wrinkles on his brain. I hope to come to you as + +. + +. + +. + +. + +**AN ORANGUTAN** + +https://preview.redd.it/2pnrdfx4yku61.png?width=1023&format=png&auto=webp&s=71866c738c132e133bcc72f38b977fe1c9a61ac8 + +**Godspeed apes.** + +I am not a financial advisor, this is not financial advice. Don't lock yourself in a shed and drink WD40 like me. +Title kind of says it all—how do you all plan ahead so you have money for different types of goals? Do you only care about long-term goals, or do you like saving for smaller goals as well (like buying a TV or taking a vacation). Curious what everyone's process is like. + +I use Betterment auto investing every week for some goals (future car purchase, saving for a home, etc.) and then don't plan too much ahead for smaller goals. +This is what people fail to understand about the MOASS. Once we watch the price hit $100.000 we won’t have to ask what the peak will be, because all our research and DD will be confirmed and we will know we control the price. In other words, if your floor is at $100.000, you might as well have it at $10.000.000 because at that point you decide when to sell. + +This post is for pure entertainment purposes, your choices are your own and i don’t claim to give legitimate financial advice. + +Edit: a sentence +Seriously. I walked into my state's job center and asked if they knew about any training opportunities. They told me about a program that pays for tuition, fees, and supplies for the entire RN nursing program (ASN). This grant is also for training for LPN, EMT/Paramedic, radiology tech, phlebotomist, CNA, and some other medical professions. + + +All I had to do was be poor as fuck(200% of poverty level, I'm way below that), have a GED/HS diploma and be unemployed. I filled out the application and just got an email today saying I was accepted. + +**You guys should check at your local job centers and see what they offer. It was easy.** + +This seems like a good way out of the minimum wage dead end jobs. + +Edit: Wow! Thanks for the gold kind stranger! :D +EDIT: THEY HAVE LAUNCHED!!! + +WDYMEME token is a brand new coin +that is all about legitimacy, memes, and no bullshit tokenomics. They just hit different. Let me explain. + +The owners are completely fucking doxed. 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For now, they are focusing on building the community, being active in telegram, and proving legitimacy. + +You can buy now on pancakeswap with BNB on the binance smart chain. Lots of great news coming up, Join the telegram with 3400+ members for updates!! + + +❗️WDYMEME Token Address❗️ + +0x7643f0c207172497810ba6b76c5f3924d4ee7569 + +💩Poocoin chart💩 + +https://poocoin.app/tokens/0x7643f0c207172497810ba6b76c5f3924d4ee7569 + + +💻Website💻 + https://whatdoyoumemetoken.com/ + +📲Telegram📲 +https://t.me/joinchat/W4OdgBkZl0g2ZjU5 + +🎥Twitch🎥 +https://m.twitch.tv/whatdoyoumemetoken?desktop-redirect=true + +🦍Reddit🦍 +r/Whatdoyoumemetoken + +🐥Twitter🐥 +https://twitter.com/wdymemetoken + +📱Discord📱 +https://discord.gg/wSXCVAaT +Coingecko listing today, multiple exchanges knocking at the door, CMC is Imminent, this arcades future is so bright it’s gotta wear shades! And about the game in development… let’s just say it’s VERY nostalgic, and, it will have a VERY familiar feel to it. 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Our gamers wallet was designed with this in mind and will fund our gaming rewards, marketing, giveaways, and more. + +[https://chaincade.com/](https://chaincade.com/) + +[https://t.me/ChainCade](https://t.me/ChainCade) + +[https://twitter.com/chaincadebsc?s=21](https://twitter.com/chaincadebsc?s=21) + +[https://www.coingecko.com/en/coins/chaincade](https://www.coingecko.com/en/coins/chaincade) +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) +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) +Update: Peloton to halt production. [source](https://www.cnbc.com/2022/01/20/peloton-to-pause-production-of-its-bikes-treadmills-as-demand-wanes.html) + +Still think is a not fad? Gym equipment come and go, as will this company. Onward to $5. + +Peloton executives and insiders sold nearly $500 million worth of their stock before its big decline, according to filings with the Securities and Exchange Commission. + +Peloton stock is down more than 80% from its highs last year, and it hit a 52-week low of $29.11 on Tuesday. Yet the company’s CEO and other executives sold millions of shares at prices over $100 a share in the months leading up to the big declines. + +The big selling started when the stock started surging past $80 a share in the fall of 2020, and gained momentum in 2021 as the stock held above $100, the filings show. +Some of you may have seen [my prior post](https://old.reddit.com/r/Superstonk/comments/sc4u7i/did_the_vw_squeeze_cause_the_20072008_crash_were/) on the VW Squeeze. In that post, you may have seen [this chart](https://www.tradingview.com/x/jCWsxLnl/) showing that the 2008 SPY crash coincided exactly with the VW squeeze. + +Well, since then I've found so much more and we need to sit down and take a look at the full story, because it is directly applicable to what we're seeing today with GME. + +##**Background**## + +Most apes know the basic story of the VW squeeze. Porsche bought up VW shares, then secretly bought calls, then announced on a weekend, and the next week VW exploded when shorts realized there was only 5% of the free float available for them to cover with. Unfortunately, this isn't the full story. The true story goes much deeper. + +Porsche began accumulating VW shares around 2005, and gradually accumulated options (both long calls and short puts) between 2005-2008, with most of the options being bought through 2007. The options were purchased through the German branch of Maple Bank, a Canadian bank arm of Maple Financial Services (now defunct). To hedge the calls it sold to Porsche (and the puts Porsche bought), Maple Financial bought VW shares and *sold* VW derivatives (swaps/futures) to hedge funds who took short positions in VW. + +##**Who was short VW?**## +The most complete list of short hedge funds I have found so far is this. I haven't dug deep into them, but here's some brief tidbits on each one: + +- Greenlight Capital (David Einhorn) +- SAC Capital (Steve Cohen, you all know this guy, of Point 72 fame. Says VW was the worst trade of his life...so far). +- Glenview Capital (Larry Robbins, grew up in Chicago) +- Marshall Wace (London hedge fund, Marshall came from Mercury Asset Management; Wace came from Deutsche Bank). +- Tiger Asia (Tiger Cubs represent!) +- Perry Capital (closed in 2016, just like Maple financial. Richard Perry, founder, also raised in Chicago, hmmm. His mother was the sister of the CEO of Bear Stearns. He worked at Goldman. His hedge fund peaked in 2007 before the VW squeeze...) +- Highside Capital (can’t find much, but they’re located on MAPLE Ave in Dallas Tx...maybe a coincidence haha [ed: this was a joke for anyone not following]) +- Lehman Brothers: famously went defunct in the 2008 financial crisis, ostensibly due to bad mortgages, but it seems they were the largest holder of toxic VW positions as well, on top of their toxic housing positions. +- Morgan Stanley (claimed they had “virtually no exposure to VW”, but virtually none means they had some, and it was heavily rumored on Wall Street). +- Goldman Sachs. You know these guys. + +##**Let's Look at VW**## + +Back to the VW chart. We have some nuances to discuss. Take a look: + +**VW Pre-Squeeze - Porsche Buy-In Phase** + +[VW 2005-2008](https://www.tradingview.com/x/YysldAhc/). This is the period Porsche was buying in. You can see the price gradually go parabolic as they accumulate more and more shares. This period is roughly analogous to the Cohen buy in period in late 2020. The VW squeeze is off screen in late 2008. Note 10/31/07 is marked. This is the peak of this VW cycle, is just a few days after the peak of SPY before the 2008 crash, and will be important for other reasons later. + +**VW's version of 2021. Meme cycles** + +[VW Oct 2007-Feb 2008, aka GME cycle](https://www.tradingview.com/x/thqOC5Cy/). This chart shows VW between 10/2007 and 2/2008. It bears a remarkable similarity to the GME chart in 2021-2022, though peaks have less magnitude, the pattern is similar. I've labelled the roughly corresponding GME dates for each peak. + +**VW Sneeze vs SPY Downturn** + +[SPY (orange) vs VW (yellow), Oct 2007](https://www.tradingview.com/x/tMriFNW0/). To the DAY, SPY will not be above this point until after the 2008 crash and subsequent recovery/bailout. Exact same day as VW's Sneeze. + +From this point, things are relatively uneventful until the VW squeeze in Oct 2008. SPY continues to drop, VW consolidates sideways/up. + +**VW Squeeze = SPY Crash** + +[SPY vs VW Squeeze](https://www.tradingview.com/x/RBp7jzoB/). You can see the previous graphs' scale in comparison. Note the largest drop in SPY coincides with the real start of the VW squeeze around 10/2/08. Note the peak of the VW squeeze on 10/28/08. Note the SPY recovery occurring simultaneously with VW settling down post squeeze in Sept 2009. + +These things alone were enough to make me suppose a connection between the VW squeeze and the 2008 crash. But wait, there's more! + +##**Banks Went Up during 2008?!?**## + +That's right apes. Feast your eyes on this. + +[Suntrust (now Truist) vs SPY 2008 Crash](https://www.tradingview.com/x/3tmLkaTB/). + +What's happening with this medium-sized bank is Sept 2008? Why is a bank having a meme spike on 9/19/08, in the middle of the 2008 financial crisis when banks were in huge trouble? You will find this same "basket spike" across multiple smaller/regional banks (and regional bank ETFs), but the bigger the bank, the smaller the spike (mostly). It's even present in Wells Fargo, but NOT present for Goldman Sachs. + +So why, did regional banks have a basket spike on 9/19/08? Well, guess what happened one day before, on Sept. 18th: + +**SEC Announces Ban on Bank Short Selling** + +[See the SEC press release here](https://www.sec.gov/news/press/2008/2008-211.htm) + +You see, there were many rumors going around in 2008 that hedge funds were actively shorting US banks into the ground heading into the financial crisis. To stop this, the SEC banned short selling of bank stocks. The next day, we saw a meme spike of bank stocks, as well as some other usual sympathetic spikes like XRT, the retail ETF (which now contains GME). + +##**Bank Spike 9/19...What Day was the VW Squeeze Again???**## + +[VW Squeeze vs Bank Spike](https://www.tradingview.com/x/3ahWExgU/) + +The VW squeeze occurred T+27 or C+39 days after the the bank meme spike. This is remarkably close to our current FTD cycles. My friend and wrinkle ape @bobsmith808 says that Market Maker FTD's are T+2 and then C+35, and that ETF and Authorized Participant FTD's are T+4-5 and then C+35 after that. The VW squeeze splits the difference and occurs T+3 then C+35 after the bank meme spike. + +**THE VW SQUEEZE OCCURS T+3 THEN C+35 AFTER THE BANK MEME SPIKE** + +Do you realize the implications of this yet? The VW squeeze was triggered by the blow up of the bank shorts. + +But wait, I thought the VW squeeze was triggered by Porsche's announcement of their call options position the weekend before the squeeze? + +##**Porsche and VW: The True Story**## + +Well, it turns out, that it was pretty well known that Porsche held a ton of VW options before they made their weekend announcement. [This excellent paper](https://zero.sci-hub.se/4919/d7b5dbc2f70fa654775765be1976f4ff/godfrey2016.pdf) (see pg 5) discusses how Porsche reported profits of $3.5b euros from VW options in it's 2006-07 annual report, how **The Economist** reported 2 months before the squeeze that Porsche holding VW options was public knowledge, and how another author named Bredoux reported in Agence France Presse (and reprinted in Asia One) that it was common knowledge that Porsche owned VW options and that expiration approached banks would need to make sure they owned VW shares. + +Huh. But I thought all the shorts were surprised at the last minute by Porsche's announcement. Yet we have multiple financial press agencies around the globe, including the freaking Economist, reporting on it. It was in their freaking Annual Report filing for Pete's sake! You think the shorts didn't know? They could even gauge roughly how much Porsche held in calls by the amount of profit, going off the amount options may have appreciated in that time. + +##**THESIS**## + +**I submit that the evidence suggests that the VW squeeze was likely actually triggered by short sale FTD's from the 9/19 bank short spike caused by the SEC's short selling ban on 9/18, and that the fallout from this added to the already bad financial crisis, to the point that the crisis didn't end until the VW squeeze was over.** + +It certainly didn't help that Porsche had cornered all the shares, or that the US banks/hedge funds that had taken short positions in VW (helped along by Porsche's partner Maple Bank) were also fucked by their shitty housing market bets, but I think the VW short squeeze was a MUCH bigger problem for the 2008 global economy than we have been led to believe. This also explains why the bailout money had to go to Wall Street. If the problem was truly just underwater mortgages, they could've just bailed out the mortgages as Jon Stewart has repeatedly pointed out. But they couldn't because they needed the money to cover other underwater short positions too. + +Otherwise, why did the crash start the same dad as VW's initial pre-squeeze spike/sneeze? Why did the recovery begin the exact same day as VW's finished squeezing and settled down to baseline? Why did the VW squeeze coincide with largest drop in SPY? + +##**STAAAHHP MY BRAIN CAN'T TAKE ANY MORE!**## + +But wait...there's more. Some of you may remember [this post of mine discussing BRK acting as a leading indicator of GME](https://old.reddit.com/r/Superstonk/comments/rw79so/berkshire_hathaway_is_an_indicator_of_gme_spikes/) + +The important part of this post is [this graph here](https://imgur.com/ntCwQ26) + +Ever since around June 2021, GME and BRK have been oddly linked, with BRK seeming to mirror GME's movements on a wide time frame (not day to day or hour to hour). Looking closer, it's actually acting as a leading indicator, but see my other post for more on that. + +I am embarrassed to admit that it took me entirely too long to go check VW vs BRK. It should have occurred to me from day one. I have now done this, and I submit for your viewing pleasure: + +[BRK vs VW 2007-2008](https://www.tradingview.com/x/XmmArWkM/) + +A few important notes: + +* Starting roughly around 10/31/07, BRK started mirroring VW's movements, just as it does with GME. +* BRK.A volume goes up by an order of magnitude, from typical volume in the hundreds of shares per day, to thousands of shares per day. We are seeing the exact same volume behavior with BRK.A since the GME debacle started in Jan 2021. +* BRK.A also has a "meme spike" on 9/19/07, which might not be surprising as many financial institutions did. VW did also. I'd be willing to bet every "basket stock" at the time did (likely banks and car companies, which were both known to be targets of short sellers at the time). +* BRK.A drops as VW squeezes (off the chart because otherwise the scale makes it hard to see the mirroring in 2007-2008) +* BRK.A volume normalizes post-VW squeeze. + +##**P.S.**## + +Remember Maple Bank? The bank that backed Porsche's non-euro options purchases? They're defunct now. Guess who handled the bankruptcy of the German Maple Bank? The same guy who handled the Bankruptcy of the German branch of Lehman Brothers. What a coincidence. Wild. + +References: + +* [Detecting the Great Short Squeeze](https://zero.sci-hub.se/4919/d7b5dbc2f70fa654775765be1976f4ff/godfrey2016.pdf) +* [Market Efficiency and Limits to Arbitrage: Evidence from the VW Short Squeeze](https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2977019) +* [Lehman Bankruptcy Trustee Handles Maple Bank](https://www-reuters-com.translate.goog/article/deutschland-maple-bank-idDEKCN0VL1KK?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=wapp) +* [Some crazy german article](https://www-spiegel-de.translate.goog/wirtschaft/verfall-von-vw-optionen-porsche-droht-schwarzer-freitag-a-631120.html?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=wapp) +* All sorts of other random press about the VW squeeze from NYT, WSJ and a million other places I can't even begin to parse, but most of this is from the above sources + +##**TL;DR**## + +VW was shorted all to fuck and likely played a larger role in the 2008 crash than we've been led to believe. Banks were being shorted all to hell and the SEC issued a ban on bank shorting, leading to a "bank meme/basket spike" the next day, and VW FTD's T+3+C35 later, just like we see now. BRK is also involved in both VW and GME somehow, probably through a swap/derivative. Burn it all down. +>As per [this SEBI circular](https://www.sebi.gov.in/legal/circulars/dec-2009/dealings-between-a-client-and-a-stock-broker-trading-members-included_2891.html), we are required to ensure that your latest income details are updated on your trading account on a yearly basis. +> +>Please update your latest income range and also upload any one of the following documents as income proof: + +* Bank account statement for the last 6 months +* Latest salary slip +* Copy of ITR acknowledgement +* Copy of Form 16 in case of salary income +* Networth Certificate issued by a Chartered Accountant +* Demat holding statement + +>Please upload your latest proof of income by clicking on the above button by May 20, 2022, without which the income range we have on record will be considered current. + +&#x200B; + +Got this email from Zerodha, this is the first time I am seeing it. I am currently out of a job (looking into further education) I have no more than 15k worth of shares. I see the last line in the email but still spooked me, should I be worried. +🌮😺Tacocat is now trading, this new token has huge potential!🌮😺 + + +***Sick of trading volatile coins?*** +🔒 This opportunity is for you, liquidity pool is locked for 6 months!! 🔒 +Whale dumps are also **highly difficult** with Tacocat! Max transactions capped at a small percentage of the coin, the 8% liquidity pool return encourages accumulation for holders, high reward! low risk! 🚀🚀 + + +9% of *ALL* transactions redistributed just like a cats 9 lives! 😺 + +* 💲💲 8% returns to liquidity pool 💲💲 +* 1% of **EVERY** transaction goes back to holders! + +Tacocat also has amazing community involvement and huge amounts of marketing behind it + +1. Community competitions +2. Real life Tacocat tequila decided by the Tacocat community +3. Early partnerships +4. Established brand socials +5. This community is in it for the long haul! + +Early adopters include those involved with [bogged.finance](https://bogged.finance) and Bingus! + +&#x200B; + +[Buy Tacocat on PCS!](https://exchange.pancakeswap.finance/#/swap?outputCurrency=0xA8fcEe78B782eF97380326E90DF80D72f025f020&inputCurrency=BNB) + +[Track Tacocat live on charts](https://charts.bogged.finance/?token=0xA8fcEe78B782eF97380326E90DF80D72f025f020) + +Social Media Links: + +[Telegram](https://t.me/TacoCatCrew) + +[Twitter](https://twitter.com/tacocatcrew) + +[Tacocat Website](https://tacocat.finance/) + +[Discord](https://discord.com/invite/kwPG4edB) +YouTube is a business. Think of all the financial gurus on there that tell you a bunch of crap and only a few of them are honest about YouTube being their main source of income. + +These new channels rising up over GME and others stocks are in it for building up an audience quickly and to get more views. You should not put your faith and trust in them nor watch what they do during the MOASS. They also can be bought. This is what Cramer's career on Television is. This is what they do. + + +Edit: Obviously **not everyone** on YouTube is this way. I'm just saying be careful and don't trust blindly just because someone says things you want to hear. + +Edit2:. Oh shit Warden Elite.... Lmao just got his AdSense and that's all he was wanting +All of you by know have seen Ryan Cohen's [latest Tweet](https://twitter.com/ryancohen/status/1460127511619252230) and there has been speculation as to why it is backwards. + +I present my theory here. + +In Ready Player One where Wade decides to [drive backwards](https://www.youtube.com/watch?v=zjYBVSvBvcM) in a race to find the first egg. During that scene, the system completely breaks down and he is able to win the race. + +What is interesting to note is that in that specific race, if people try to play normally, there is no chance of winning. The system was designed for every player to lose. + +Ryan Cohen is telling us that we're going to break the system and win. And all we are doing is driving backwards i.e. taking our shares out of the DTCC and into our own names. + +One final note: DFV also [Tweeted this exact scene way back in June](https://twitter.com/TheRoaringKitty/status/1400124740291923968) +I have a PPO plan. I have a $50 deductible and owe 10% co-insurance when I see in-network providers. It's a student health insurance plan. + +However, despite this contract, nearly every provider I go to bills me more than what my insurance says I owe according to the explanation of benefits I get for each claim. Edit: THESE ARE ALL IN-NETWORK PROVIDERS. + +About 5% of the time, the provider acknowledges the mistake and sends me a new bill with the corrected balance. But for all the others, they refuse to budge and threaten collections if I don't pay the full amount. + +Sometimes the provider will say, "this is a [insert random name] fee/surcharge etc. that insurance doesn't cover." Other times, the person that answers the call either doesn't understand medical billing at all or is pretending to not understand it to get me off the phone. + +I'm on the phone with my health insurance nearly every day. They've said they've done investigations, except all but one "investigation" has dragged out for several months with nothing to show for it. And each time I call up, they act like they've never heard of any of these investigations until I start reading off codes, dates, and people. Then they magically find it and act like it's the first time anyone has been made aware of it and say they'll call me up when they get an answer. And then they never do. + +Is there something I'm missing here? I've read similar complaints from people, but people seem to experience these things rarely - whereas in my situation, not having a medical billing headache is the rare exception. + +This also seems to be a problem with the providers near my university (small city in upstate New York) more so than where I grew up (suburb of NYC). +Hi all, I wanted to repost this fantastic DD from yesterday that seems to have gotten completely lost in the avalanche of karma farming lego meme's. All credit goes to [u/nydus\_erdos](https://www.reddit.com/user/nydus_erdos/). This is part two of his series, both posts are top tier IMO and deserve more love. You can find them here: + +[The Chronicles of Short & Shorter, Ep. 1: Before the January Sneeze](https://www.reddit.com/r/Superstonk/comments/ogi75b/the_chronicles_of_short_shorter_ep_1_before_the/) + +[The Chronicles Of Short & Shorter, Ep. 2: During the January Sneeze](https://www.reddit.com/r/Superstonk/comments/oh8fcz/the_chronicles_of_short_shorter_ep_2_during_the/) + +&#x200B; + +The TLDR is that u/nydus_erdos is using the Finnerty formula to estimate the total number of cumulative shorted shares and the total SI up to the Jan "sneeze". SPOILER ALLERT: the number of shares will jack your tits into the thermosphere. + +Again, all credit for this amazing DD goes to OP and anyone that enjoys the content should show his posts some love. Anyway onto the content: + +(EDIT: to fix formatting and add the TLDR meme from original post. Im honestly so happy that people are looking at this and discussing it. Please show the love to OP u/nydus_erdos as he deserves all the credit!!) + +(EDIT 2: Just noticed my brain fart in the title lol. Clearly my brain is much smoother than OP’s. Hopefully the content makes up for it) + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +&#x200B; + +&#x200B; + +Disclaimer: Not financial advice. I've put a disproportionate amount of time into this for free, I clearly do not make good decisions. Though I continually strive to improve this model it is, at best, just fancier napkin math. + +\-------------------------------------------------------------------------------------------------------------------------------------------------------- + +Quick Descriptions of my Previous Posts, if something doesn't make sense its probably in here: + +[Math Black Magic, Vol. 1: Why It Is Mathematically Impossible for Hedgies To Unfuk Themselves](https://www.reddit.com/r/Superstonk/comments/nw8281/math_black_magic_vol_1_why_it_is_mathematically/) + +* If you only read one post, read this one +* **TL;DR => Finance professor John Finnerty mathematically proves that it's impossible to short a stock to zero without naked shorting at least as many shares as there are outstanding, doubling the float in the process.** + +[Math Black Magic, Vol 2: The Limit Does Not Exist!](https://www.reddit.com/r/Superstonk/comments/nwy0oz/math_black_magic_vol_2_the_limit_does_not_exist/) + +* This one touches on the price pattern of the short attacks +* **TL;DR => At this point, the number of shares needed to short $GME to zero does not mathematically exist.** + +[Math Black Magic, Vol. 3: Trillion Short Share Seance](https://www.reddit.com/r/Superstonk/comments/nya5ps/math_black_magic_vol_3_trillion_short_share_seance/) + +* **TL;DR => I try to make estimates of shares shorted based on the known equations and data at that time. I stand by the methods, but they needed more refinement. Which leads to the following volume...** + +[Math Black Magic, Final Vol: Epilogue](https://www.reddit.com/r/Superstonk/comments/odrnbv/math_black_magic_final_vol_epilogue/) + +* **TL;DR => I made this post as a sort of correction. I went through the model again and tightened it up and got an answer I feel much more confident in** + +[Malleus Oeconomica: A Compressed Primer](https://www.reddit.com/r/Superstonk/comments/of1lz2/malleus_oeconomica_a_compressed_primer/) + +* In Short & Shorter, I use several economic concepts and equations that need a little explaining first. +* **TL;DR => This is already a compressed post. I can't really put it any simpler than I do in the post.** + +[The Chronicles of Short & Shorter, Ep. 1: During the January Sneeze](https://www.reddit.com/r/Superstonk/comments/ogi75b/the_chronicles_of_short_shorter_ep_1_before_the/) + +* This is the first step of the process from which I got my revised shares shorted count. I try to dissect their shorting strategy and quantity shorted from 2015 to before the January Sneeze. +* **This post could really use some love as it got downvoted to oblivion by shills.** +* **TL;DR => scroll to bottom of this post** + +\----------------------------------------------------------------------------------------------- + +# A. Intro + +This is still stuck in my head from the last post. Once again very sorry: + +([Begin drum loop](https://www.youtube.com/watch?v=JgLcJFad90I)) + +Absolutely nobody: Hey Nydus, can you tell us a bedtime story? + +Ok, heeerrre we go: + +Once upon a time not long ago + +When people went long and invested slow + +When laws were stern and justice stood + +And people were investin' like they ought to: good + +There was little Gabe who broke his bread + +With another Kenny boy and this is what he said: + +"Me, you and Steve are gonna make some G's + +Shorting inelastic curves and makin' FTDs" + +&#x200B; + +I DID NOT MAKE THIS! IT WAS ORIGINALLY POSTED BY u/MisterFinishLine.! [https://www.reddit.com/r/Superstonk/comments/nii1s6/short\_shorter/](https://www.reddit.com/r/Superstonk/comments/nii1s6/short_shorter/) + +\----------------------------------------------------------------------------------------------- + +# B. Timeframe + +* (Magenta circles denote time points) +* Time 0 - Squeeze peaked Jan. 27; P(0) = $357.51 +* Buy Button turned off Jan. 28 +* Time 1 - Feb 1 (3 trading days from time 0); P(1) = $214.51 +* Time 2 - Feb 3 (5 trading days from time 0); P(2) = $85.80 +* Time 3 - Feb 4 (6 trading days from time 0); P(3) = $51.48 +* On approximately Feb. 10 (10 days from time 0) price settled out at \~$45 + +&#x200B; + +[Time Frame](https://preview.redd.it/8pzd9plt4ga71.png?width=1085&format=png&auto=webp&s=86a0ec858c26316fb0add3ca0df57313fab5a6dd) + +\----------------------------------------------------------------------------------------------- + +# C. Additional Assumptions + +The full list of my assumptions can be found in Ep. 1. See links at top of post. + +*SHORT ATTACK MAGNITUDE IS ALWAYS MAXIMUM* + +In the last post, I mentioned an excerpt from Finnerty's paper, which should sound familiar: + +>"...suppose the manipulator realizes at time 2 that the firm’s share price the next period will be *H*, rather than *L* as originally expected, say, due to favorable developments in the firm’s business. Suppose further that the securities regulators or the clearing house require all securities dealers to clear up all fails to deliver. The manipulator would face potentially large losses on his short sales. By short selling an additional *2A/(3B)* shares at time 2, he can drive the share price close to zero." (Pg. 56, par. 3) + +The quantity *2A/3B* is double the amount the manipulator usually sells at time 2, which indicates to me that they have to increase the magnitude of their short attacks to compensate for the change to a higher value. I will not be using the quantity strategy described above as its mathematical parameters are different, but the I feel the circumstantial similarity provides reasonable basis to assume that during and after the Sneeze, they were always shorting the maximum amount of shares. + +With all this in mind, and the fact that GME is a *H* company, I will no longer calculate/use variable *L*. + +*ELASTIC DEMAND CURVE* + +This assumptions ONLY applies to during the Sneeze as a result of them turning off the buy button. Using the elastic coefficient resulted in the lowest reasonable estimates as well. This makes sense as they can manipulate an elastic demand curve with less shares. + +\----------------------------------------------------------------------------------------------- + +# D. Price Pattern + +With buy pressure pretty much neutralized. Its hard for me to judge the how much each contributed to price drop. I tried to identify if there were any clear trends. **The first attack dropped price by 40 percent (normally it drops 33 percent), the second by 60 percent (normally it drops 50 percent) and the third by 40 percent (normally takes price close to zero)**. Not too much deviation, in fact, I expected more, but I assume that letting us buy limited amounts of shares on the way down stiffened out demand curve a little to maximize their profit. + +\----------------------------------------------------------------------------------------------- + +# E. Equations & Variables + +FINNERTY FORMULAS + +[Quantity Shorted](https://preview.redd.it/xax47cpu4ga71.png?width=919&format=png&auto=webp&s=ae6de0da936ab3191b25da1f014a733d7c288d51) + +VARIABLE *B* + +[Elasticity](https://preview.redd.it/al41sdvv4ga71.png?width=977&format=png&auto=webp&s=de833e2bca03a4b97528fb651e94fc85e5bfff22) + +&#x200B; + +[Variable B](https://preview.redd.it/2bx6yj6x4ga71.png?width=851&format=png&auto=webp&s=3525b0733c687395d3d919a577478837c17290e4) + +&#x200B; + +VARIABLE *A* + +&#x200B; + +[Variable A](https://preview.redd.it/rhkmakma5ga71.png?width=980&format=png&auto=webp&s=33ece2edace98830a32933bdaae3cd52946f6196) + +&#x200B; + +VARIABLE *H* + +&#x200B; + +[Variable H](https://preview.redd.it/du6kmnfc5ga71.png?width=949&format=png&auto=webp&s=02b0223ad8d9f7de69ac1c96c0a53071a753a5bd) + +&#x200B; + +\----------------------------------------------------------------------------------------------- + +# F. Results + +(Share counts in millions) + +Chart 1: Shares Shorted During Sneeze + +|Time (t)|Quantity Shorted| +|:-|:-| +|Time 1|62.642| +|Time 2|62.648| +|Time 3|133.35| + +Chart 2: Totals from During Sneeze ONLY + +|Total Shorted Shares at Time 2|125.29| +|:-|:-| +|SI at Time 2|177%| +|Total Shorted Shares at Time 3|258.64| +|SI at Time 3|366%| + +&#x200B; + +Chart 3: Cumulative Counts (Pre-Sneeze + During Sneeze) + +&#x200B; + +|Shares Shorted from Pre-Sneeze|155.37| +|:-|:-| +|Pre-Sneeze SI|220%| +|Cumulative Shorted Shares at this Point|414.01| +|Cumulative SI at this Point|586%| + +&#x200B; + +\----------------------------------------------------------------------------------------------- + +# G. Conclusions + +Notice how that by time 2, when the price halves they had shorted more shares than shares outstanding and by the end of time 3 they have shorted about the same amount of shares they had shorted Pre-Sneeze. + +The more I extrapolate I assume my margin of error grows, but I still feel confident in these answers. I believe this is where reached a point that they were no longer able to drop us back down to $40. I feel like my hypotheses don't fully explain why though. Input is appreciated. + +\----------------------------------------------------------------------------------------------- + +# H. Next Post + +We'll look at the time period after the January Sneeze to approximately mid-April 2021 + +\----------------------------------------------------------------------------------------------- + +# I. TL;DR + +&#x200B; + +[I DID NOT MAKE THIS! ORIGINAL MEME POSTED BY u\/Archisaurus, https:\/\/www.reddit.com\/r\/Superstonk\/comments\/oev08e\/this\_is\_my\_brain\_going\_through\_the\_due\_diligence\/](https://preview.redd.it/lmundof7pga71.png?width=942&format=png&auto=webp&s=0e77d79ba2b5bc4739a4372513080174f9a3efc3) +Hey first time posting here, + +so last year I got into the stock market and crypto, investing has been a lot of fun for me and is something I want to keep on doing to secure me a good financial future and hopefully retiring earlier than the average person. + +I currently have roundabout 40k invested (two thirds in stocks, one third in crypto) and I have wanted to buy a BMW M2 for a long time now but it's a rather expensive car (between 43-55k €, used). It's something I very much desire but at the same time I am unsure if that's a good thing to do with my money. I could either take up a credit to buy the car outright + trading in my current one or I could look at a lease. + +If anyone has been/is in a similar situation, I'd love to hear some feedback. + +Edit: I'm 25 years old and trading in my car could bring me between 15-20k so I'd end up having to put like ~25k on top for the purchase. +I am working with a contractor that has been a pleasure to work with. Honestly, he has gotten the job done and has been honest with me. There have been delays on the project that I have had to eaten up (3 Months), but overall, there have not been concerns. + +&amp;#x200B; + +The project is wrapping up and he has said due to all the unforeseen circumstances, that he really did not make money on this project and was asking for 15% of the total contract to make some profit. + +&amp;#x200B; + +As a good guy - I totally understand this. But how do I know he is not taking advantage of me? To be honest, I understand his situation might not be ideal, but this is business. Sometimes in business, you have to take lower or no profit, because you did not execute properly to begin with. It also puts me in a poor situation because: + +&amp;#x200B; + +a) It affects our relationship based on the decision I make here + +\- If I say NO, then I look like a jerk and he may not want to work with me in the future (I like him enough in many other ways where I would still work with him) + +b) It affects my ability to operate &amp; grow + +\- Asking for more money obviously puts financial constraints on my ability to invest and maintain financial security over the portfolio. I come from a good place, I just do not think he sees this side of things. + +&amp;#x200B; + +As a new investor, what are the next best steps for me to ensure I keep all sides happy? + +&amp;#x200B; + +Ideas: + +\- Request itemized invoices that outline the supplies, subcontractors, workers on the project, and materials purchased? + +UPDATE: + +So I spoke to my general contractor and sent him a note prior to our conversation. This is really going to expose me and I’ll probably get a lot of “shit” from the community about how I let my cards out too early. Anyways, I’m cool with getting beat up a bit and hear others perspectives: + +Note to contractor: + +Hey (first name), + +I have no objections for you quote for (name of property) - I reviewed it. I want to keep the relationship going. Lets just bid normal/tight for the next project. + +The news is full of tight labor markets and materials prices skyrocketing. + +You have and continue to do good work. You deserve 15% profit. + +Good people are hard to find in this world and they tend to stay busy. I want to keep you on my team and continue to work with you on all my projects. That being said, I want to keep you happy and afloat. + +Thank you. I really appreciate you in my life. + + + +——— + +Well today also happened to be a day where he put a bid on my next project. He quoted in 10% profit this go around rather than 15% ( the project is a bit larger too!) + +My point is that maybe me just taking the path of understanding and kindness led to him giving a little off on the next project. + +I’ll never know, but my gut always tells me to kill people with kindness. +We know you’re here. You know we know you’re here. + +It hasn’t gone without notice that a narrative foundation is being laid to blame retail investors for meme stock volatility, and to justify intervention “for the sake of the market and to protect unsophisticated investors from their own choices”. + +Today’s wild swings were caused by institutional investor sell off and further hedge fund antics. Retail investors are holding. If there is volatility, it’s only because the “experts” are gaming the system and losing at it. + +The little guys are going to come out on top for once -provided you can avoid the lobbyists’ calls to save them or bail them out. Don’t repeat 2009 please. +since joining this subreddit i have been contacted numerous times by accounts with no or very low karma about debt consolidation and other scammy services through the reddit chat and direct messages. + +**please exercise caution and report these scammy users.** +A few days back [I asked if people would be interested in an app that helps practice trading](https://www.reddit.com/r/Daytrading/comments/jqas56/would_anyone_be_interested_in_an_app_that_helps/), and the response was positive. + +There were some existing app suggestions made: + +* Most of them were some form of paper-trading, which is not at all what I was looking for, because it has a very slow feedback loop (make a trade, wait for hours/days). +* Most notable was TD Ameritrade On-Demand feature, and then some smaller apps, but I wanted something that's super easy/quick to start with and use. + +**I wanted something that combines all the things that I'm looking for:** + +* **Quick start in seconds - no download, install, registration, etc.** +* **Easy to use UI/UX.** +* **Minimal bias - accomplished by picking random asset/time and hiding them.** +* **Make trades and fast forward time for a super quick feedback/learning loop.** + +[**So I created it - TradingGYM**](https://tradinggym.app/)**. It's an early version, but I wanted to get the MVP out ASAP and see if this is useful to other traders as well.** + +For now, all the assets included are Crypto, since I already had the data and that's the asset class I'm most familiar with. Let me know how much interest there is in other classes. + +The Mobile version has a more lightweight UI, but in Desktop you can change some settings like candle size and commission. + +Any suggestions are very much welcome. Super interested to see if this helps anyone improve their performance. +OK, so in another thread I made [this post](http://www.reddit.com/r/Economics/comments/ioda9/are_most_economists_hayekians/c25fv5q), and then I decided that now was as good a time as any to post something I've been thinking of since I started posting on r/economics. There's a lot of confusion out there as to what beliefs belong to what specific schools of economic thought, so I want to shine some light on that topic. I will make no attempt to mask my own views, which come from within mainstream economics (I am a PhD student in econ, my current research is in behavioral macroeconomics). Pretty much any terms that are capitalized you can look up on Wikipedia. + +1. [**Austrian economics**](http://en.wikipedia.org/wiki/Austrian_economics) is very much a heterodox school of economics and here's why: the view from within mainstream economics is that Hayek et al had some excellent points (the subjective theory of value, for one) but that they ultimately fail on scientific grounds because of their refusal/inability to a) produce falsifiable theories (see Popper), and b) their refusal to use formal logic and mathematics. I'm happy to have a debate another day (or in the comments) about the use of mathematics in economics, but suffice it to say that mathematics is nothing more than an extremely efficient tool for making internally consistent arguments based on pure logic. Anyways, because of these two critiques, Paul Samuelson and company took the good ideas like subjective valuation and abandoned the Austrian mode of analysis in favor of mathematical modeling, which developed into contemporary economics, which I'm about to describe in too much detail. +But why are so many Redditors fans of the Austrian school? Well, why are so many psychology enthusiasts fans of Freud? Because he (Hayek or Freud) provides an easy framework for analyzing problems ex post, and because the non-falsifiability of his claims leads one to a false sense of understanding. Note that academic psychologists have taken Freud's few good ideas (the unconscious mind, trauma, etc) and abandoned the rest of psychoanalysis...the parallels are very strong in my mind. That, and the lack of math in Austrian analysis, makes people gravitate toward the Austrian school. + +2. Anyways, like most of you know because of the youtube video of the rap battle, Hayek's main opponent was [**John Maynard Keynes**](http://en.wikipedia.org/wiki/Keynesian_economics), whose theory of Keynesian economics was pretty damn influential. I'm going to assume most of you know something about the Keynesian prescription for how to deal with a recession (cut taxes, increase government spending, increase the money supply), and thus of his view of the government's role in the economy. The only thing that I'll point out, for personal reasons, is that Keynes only gets trotted out by the politicians during a recession. Keynes would have us run surpluses during prosperous times, but the federal government has run a surplus in 3 of the last 30 years. + +3. So, like I said, Samuelson and company start to write mathematical models. From the first attempts to model the macroeconomy based on Keynes thought came [**NeoKeynesian**](http://en.wikipedia.org/wiki/Neo-Keynesian_economics) macroeconomics. NeoKeynesian macroeconomics as I understand it was just Keynesian macroeconomics, but with stronger mathematical foundations. At that time (1940s-1970s-ish), economists also talked about [**Neoclassical**](http://en.wikipedia.org/wiki/Neoclassical_economics) economics, which was less a school of macro than an approach to modelling involving micro-based theory of competition and equilibrium (called classical because the intuition behind these mathematical models came from Adam Smith and friends). Goddamn this is confusing. One quest of this period was to reconcile NeoKeynesian Macro with neoclassical micro, which was called the neoclassical synthesis. If you learned the ISLM model as an undergrad, know that the ISLM model is NeoKeynesian. + +4. A major problem in this process of synthesis was the absence of dynamics (movement through time) and expectations about the future from the NeoK model. Enter Milton Friedman, who was pretty much convinced that ISLM and NeoKeynesian thought were bunk, and who gave the intuition behind government spending crowding out investment and consumption, and actually having a negative effect on the economy. Friedman's ideas were developed into a (heavy-duty) mathematical model first by Robert Lucas, whose "Lucas critique" basically shows exactly how rational expectations can destroy the predictions of NeoKeynesian Macro models. Then the stagflation of the 1970s vindicated Friedman and Lucas in a very strong way, and [**New Classical**](http://en.wikipedia.org/wiki/New_classical_macroeconomics) Macroeconomics was born. That's right, New Classical and Neoclassical are totally different things, as (we're about to find out) are New Keynesian and NeoKeynesian. Anyways, most of New Classical economics is contained in the ideas of Real Business Cycle (RBC) models, and it's called New Classical because a) it is founded entirely on the mathematical theory of competition (it has *microfoundations*) and b) it's policy perscriptions are pretty lassez faire. + +5. In response to this, some economists you've heard of like Mankiw and David Romer developed [**New Keynesian**](http://en.wikipedia.org/wiki/New_Keynesian_economics) models, which challenged the assumptions of New Classical models: by adding some market imperfections (specifically sticky prices, the idea that prices and wages don't respond very quickly to changes in economic conditions) they were able to rescue the Keynesian implications of the model, most prominent among them the fact that discretionary fiscal and monetary policy could ameliorate recessions. The New Classical and New Keynesian economists duked it out quite a bit. Two side notes: First, if you're wondering, some things Paul Krugman says make him look more Old Keynesian than New Keynesian but he's in a small minority among academic economists in that regard. Second, freshwater macro=New Classical Macro, because it was at schools like Chicago and Minnesota. saltwater macro=New Keynesian Macro, Harvard, MIT, and Berkeley, among others. + +6. Both New Classical and New Keynesian models use the same theoretical tool: that of Dynamic (movement through time) Stochastic (there's uncertainty) General (all goods and services are in the model, agents own the firms) Equilibrium (supply=demand) models, or [**DSGE**](http://en.wikipedia.org/wiki/Dynamic_stochastic_general_equilibrium) models. In the **present day**, the distinction between NK and NC (New Keynesian and New Classical) is fading in favor of the DSGE models of various market imperfections, such as (notably) financial or housing market frictions (frictions is a fun name for imperfections). The game is figuring out which frictions matter the most, and it's heavily influenced by current events. There's still a healthy debate about the optimal monetary/fiscal policy, and while economists largely agree that this approach to modelling will lead to the best understanding of the macroeconomy, they still disagree on whether discretionary fiscal spending like the stimulus has an impact, and there are a *lot* of empirical papers on this topic. I haven't talked a lot about empirical papers, but let me just say that a) there's been some obsessive studying of data, and the methods of data analysis have evolved along with the models, and b) the reason the data don't speak clearly on some issues is that we just don't have enough of it and the macroeconomy is damn chaotic. + +Something I am compelled to add is that there are obvious flaws to the NK and NC frameworks, and macroeconomists are probably more aware of the problems than a casual observer...or an Austrian economist. In behavioral macroeconomics, for example, David Laibson has shown that time-inconsistent preferences (weighting present welfare more than future welfare, regardless of how far in the future it is) can destroy important implications of the standard NC model. The difference is that working from within mainstream modern macro, one can actually propose alternatives to critiques of the workhorse models, and then see how much the veracity of that particular assumption matters, and what happens when it fails. So macro is in a very self-critical phase right now, and IMO it's likely that there will be a great deal of change in the way we think about the macroeconomy over the next 10 years. + +OK I think I'm done. Knowledgeable folks feel free to correct any mistakes that I made. I'm also happy to listen to any critiques; sorry I was so hard on the Austrians. I hope someone finds this useful. + +**tl;dr** Everything you learn as an undergraduate about Macroeconomics reflects very poorly the current state of thought in the field. Also be careful when using words like "neoclassical" if you're not sure exactly what they mean. + +**Edit:** My main purpose in creating this was to describe schools of thought within the mainstream. I decided to give my view of Austrian economics because it's getting a lot of attention lately. I don't really have much to say about heterodox schools that you couldn't read on Wikipedia. Remember that mainstream economics is much more a mode of analysis than it is a system of beliefs; I think the case is quite strong that any logical argument can be expressed in the language of mainstream economics. + +**Edit:** Well, I knew this would bring out the fire in the Austrian fans and I wasn't wrong. I'm going to stop responding now, though, because I think I made myself plain enough, and I have work to do. I've enjoyed the conspiracy theories about the Fed though. +Today my sister convinced me to go to one of these timeshare meetings to get free tickets so we could all go to dinner theater. I do not recommend this. While I was smart enough to say no to this insane “program,” there were tons of people around me signing up. There was a troubling number of disabled people in the room. Just buy the tickets. + +To break it down, you get 200,000 “points” per year for $50,000. What does 200,000 equal? + +“It’s different everywhere but if you don’t go during peak season you can go for two months and you can even RENT your space!” This was a lie. + +They wanted us to pay a $15,000 deposit today and finance the rest in house for 17.99%. For those keeping up at home, you are paying roughly $150,000 for points for life, plus a yearly maintenance fee, for which they could not project into the future. I asked if they could show me how much it has risen in the last few years and where they project it to be, and they wouldn’t provide me with any of that. “It won’t rise exponentially.” + +This whole situation pissed me off. They asked us to not lie and be open minded, but constantly lied to us. They use every shitty sales tactic in the book. They shame you for choosing to be a renter instead of an owner. They change the location of your meeting constantly. They changed sales reps multiple times. They would not accept no for an answer. I showed them that it would be ~~$150,000~~ $80,000 in 10 years and he kept repeating “it’s $50,000” over and over again. + +Think of the tricks Michael uses in the Office: + +“Do you want your life to get better, worse, or stay the same?” + +I get home and log into eBay and see that these $50,000 memberships can be bought for literally $1. + +The whole experience was horrifying. They prey on the uneducated and those with special needs. + +EDIT: Someone checked my math on the interest. I way overestimated. + +EDIT 2: I’m so happy that this post blew up on /r/personalfinance. We went to dinner theater and my 7 year old niece had an incredible time and it made the bullshit 100% worth it. Honestly though, I should have just bought my tickets. The 2 hours promised turned into 4 hours. I was belittled, shamed, and insulted. + +As some have pointed out there are **rare** situations where timeshares are worth it, especially if the maintenance fees are fixed. For the most part, it’s $50k-100k of revenue for the hotel groups that is pure profit. If you are stuck in a timeshare you hate GETOUT! If you aren’t, count your blessings and *gAsp* rent your hotel rooms, use your credit card rewards, or use AirBnB. +I am sitting here trying to understand and rationalize the market rebound and I have come to the conclusion that I have no idea why the market is trending back upwards. Was there something in particular that can be attributed to the turnaround? Just not sure where all the current resilience and market confidence is coming from. + +I have been hesitant ever since it was signaled that there would be an announcement from the White House on how they wanted to “enforce rules around crypto as a matter of national security”. I’m sure this announcement will be something close to what India has done with their 30% but there is no way to know. +I have seen many questions around income and where you should be at different ages so I have built a tool to allow you to find where you are compared with other Australians who paid tax. + +[Here is the spreadsheet, works best if you download it and use local excel.](https://drive.google.com/file/d/1fKouMcgOW3V68OWcDyUQ21AI6cW1eCDn/) + +[This is what it looks like.](https://imgur.com/a/vpQjJ1R) + +Instructions: + +1. Enter your income in the Orange Cell +2. Choose Age group and sex if you want +3. Play around with some of the settings to see how different groups compare + +Notes: + +I think many people here and in Australia are unnecessary envious because they think others are earning much much more than they actually are, I hope that this will put people in perspective of where they actually sit. This problem is exacerbated by all the 30-something males here earning above 200k which is actually very rare. +Your gme shares are priceless, please understand that. + +In a capitalistic system supply and demand is supposed to determine the value of things. That price can be subsidized or held up or pushed down. Through greed, they, THEY have made your shares priceless. + +They could have taken the loss in Jan, but that concept is so foreign to them they literally said, "Let's potentially destroy the economy," rather than lose and let regular people get any of their money. + +GME is trading at 146$ someone has to buy tens of millions of shares and we have the shares, they could drag GME down to 30$ but they still have to buy them, it doesn't decrease the actual value. They want the shares more than anything, they feel like we should give them gme for nothing. This is their ego and mentality. + +the endgame is scary, but don't let them convince you your priceless possessions are worthless. + +My dog is old and dirty, nearly blind, but priceless to me. If some billionaire tried to buy her, there's literally no price that I'd sell for. + +DON'T BE THE PERSON WHO SELLS A DAIMOND FOR NOTHING BECAUSE YOU SEE NUMBERS MOVING DOWN OR UP! We've read the DD, we know what our stock is worth. + +right now you can buy something priceless for 146$ and they are hoping people are too stupid to do it. + +BUY, HOLD. + +You know what, I don't know if I will ever sell. +Seriously, almost every post I’m seeing Apes are literally BOLDING the WE’s and US’s as if that isn’t a major concern and threat to this entire thing. + +Use the half wrinkle on those **smooth brains** and just STFU and **HODL**. I sure as hell didn’t spend my life savings and hold this entire time for Apes to tell their sob stories and ruin it for everyone. + +**THERE IS NO WE, THERE IS NO US, I JUST LIKE THE STOCK** + +Edit: Thanks for all the reassurance/clarification❤️ SOON MOON. WE LIKE THE STOCK🚀🚀 + +Edit 2: Not responding to anymore comments, loading some dry powder in the chamber for these dips😎 Appreciate all the thoughts! +Hey guys, + +be aware that I'm no financial advisor and that my knowledge of this matter is mostly based on other peoples DD and my very limited capabilities of reading and understanding financial matters. I'm reading about XRT and ETFs since about a week and everyday I find new stuff that just blows my mind. I'm far from understanding the total depth of the information and I always delayed releasing this post but I think more clever apes need to dig deeper. If I made a false assumption or understood something wrong then please let me know in the comments. I'm not providing a TL:DR because sometimes there is no easy way of understanding a complex topic. I made a conclusion at the end of this post which somehow recaptures my points but please read the whole thing if you can. There is a little gem at the end of the post to hopefully keep you motivated to read all the way. Let's start. + +Under a recent XRT post someone commented a link to an [old DD](https://www.reddit.com/r/Superstonk/comments/nt8ot8/rip_uleavemeanon_where_are_the_shares_part_1/?utm_medium=android_app&utm_source=share) which is worth the read but not necessary to understand this post. OP describes how "Authorized Participant" (AP), like banks and MM for example Citadel, are using their privileges in order to profit from lax ETF regulations. + +I don't want to go too deep into the details and I would advice anyone with further interest to read the DD themselves. I try to keep it short as possible: + +APs are able to create and break apart ETF shares in order to provide "liquidity". They can create ETF shares by buying the shares of the underlying securities which usually happens in larger quantities which are grouped in a "creation basket": + +>For an AP: 50,000 shares of ETF = “creation basket” = 50,000 shares of underlying securities +> +>**They’re interchangeable, for a small fee** + +You wanna know how many of those creation baskets are created on a daily basis just for XRT? + +&#x200B; + +https://preview.redd.it/r30dx2ze64d81.png?width=324&format=png&auto=webp&s=a417a9bee75c8fdc12145cd1b9935432a290f7d0 + +Everyday there are about 50,000 \* 66.68 = **3,334,000** XRT shares created. The **official outstanding shares for XRT vary between 3M-10M shares** in the last few months. How is it possible that a massive chunk of outstanding shares are created on a daily basis without the outstanding numbers going up? Where are those shares going to? Why are 3.5 M shares of XRT traded everyday? Why are most of the outstanding shares traded on a daily basis volume wise? + +# Creation process: + +Normally APs (MM) like Citadel are providing "liquidity" with the creation process of putting together a creation basket and selling it to the market. They obviously are also making money from this. Through their privileges and MM capabilities they are provided with certain exemptions that allow them to sell ETF shares that they do not own (haven't created yet) up to 6 days before purchasing the securities to create them. + +So normally they would be putting together a "creation basket" of 50,000 ETF shares by buying the underlying securities first. This would be like the rulebook scenario. Through their special rules they can create 50,000 ETF shares before even buying the 50.000 underlying shares, which in the best case, are balanced out perfectly to reflect the weighting this specific ETF follows. + +I thought a lot about the way they are abusing XRT and I came to the following conclusion. Let's say they create 50,000 ETF shares to sell them to the market. This all happens through computer systems. Those 50,000 ETF shares represents a specific weighting of different shares which need to be bought from the normal stock market. If you are creating 50,000 ETF shares then the system also needs to be fed with 50,000 shares. If you aren't directly feeding the system with those 50,000 underlying shares then there is like a imaginary piece of paper which records that the 50,000 underlying shares for the creation of the 50,000 ETF shares are still missing. It's basically like a short position. When you short sell some stocks your account simply shows; - (MINUS) 220k shares GME , - (MINUS) 1M shares TSLA, - (MINUS) 2M shares APPL. + +The 50,000 ETF shares which were created, are recorded on another imaginary piece of paper and are expected to represent the specific ETF weighting in shares. On paper those 50,000 ETF shares are supposed to include 2% GME and many other stocks (I don't know the actual percentage and weighting). The system basically registers that 1,000 GME shares and many other shares of other companies need to be delivered so that the books are balanced out and everything is as it's supposed to be. If the AP doesn't deliver those shares within T+2 days, then it's registering as an FTD. After T+6 days they are forced to take care of it OR they can open up a put position which gives them another T+35 cycle. Meanwhile those 50,000 ETF shares are already sold to the market and the system thinks that those 50,000 ETF shares are accounting for a specific number of underlying shares. + +Let's say the AP wants to clear the books and finally settle the creation of this basket. He goes to the stock exchanges and simply buys all the stocks that he needs for the creation of this ETF basket. But what if one of those underlying shares that he needs to buy are currently hard to find because there aren't much shares to buy and the specific share is very illiquid. APs can pull another trick card out of their sleeves: + +>One such friction was the variance in the availability of the underlying constituents and the potential difficulty in forging perfectly weighted baskets for delivery at short notice. This led many ETF managers to allow APs to deliver customised baskets, effectively permitting stocks to be delivered in weightings that suited APs rather than shareholders. **In some cases, hard-to-find stocks or bonds were even allowed to be substituted with cash outright or other collateral** (increasing the risk of index-tracking error even further) + +source: [https://www.ft.com/content/a9d04b8a-feea-4e4a-8bb8-d7681b8bcc52](https://www.ft.com/content/a9d04b8a-feea-4e4a-8bb8-d7681b8bcc52) (great read btw) + +They are allowed to simply replace hard-to-find stocks with substitutes OR much easier: raw CASH. So instead of simply delivering and buying a stock from the market and feed it to the system to finish the ETF share creation. They can feed cash or some other stock into the system and the system is like, okay that isn't the share I needed but it will be okay anyways. This form of substitution obviously needs permission from the people managing the ETFS but I would bet both my nuts that the people managing XRT don't give a flying fuck of proper weighting. + +After the system has been fed, the FTD clears and the creation process of the ETF shares is finished. Now comes the big question mark, what happens to the piece of paper of those ETF shares and the underlying securities which needed to be delivered, that already have been sold to the market by the MM. Is the piece of paper corrected. Is there a process where the system registers that there haven't been GME shares fed to the system like it's supposed to be, but simply cash. Are those ~~1k GME shares~~ crossed out in the books and replaced with the cash equivalent amount OR are those ETF shares still representing GME shares that never were delivered. I don't know about this and the system isn't transparent enough to retrace it. I can only speculate about this but if I have to guess: this might be the loophole for creating synthetic shares. I don't have any proof for that but I'm 100% sure there is some loophole in this whole ETF share creation and redemption process. Those created ETF shares which supposedly contain GME could later be dissolved and then sold to the market. + +# Dissolving ETFS: + +APs are also allowed to dissolve ETF shares into their underlying securities. They can either do this by actually buying shares and dissolve them (which reduces outstanding shares) OR they can simply borrow them from some fund or entity that is holding XRT for a small fee. They then dissolve the ETF shares into the underlying securities and sell them to the market which actually is shorting. You can only sell the shares you actually wanna go short on and keep others or you can sell all and buy them back later if you expect them all to be cheaper in the future. If 50,000 ETF shares are only borrowed to ONE entity then there are no synthetics created (if the underlying shares have regularly been fed into the system at some point in the past). They have been bought once and now sold = 0 shares that shouldn't exist. But what if the same 50,000 ETF shares are borrowed out 5 different times? **They are then dissolved 5 times representing 250,000 underlying shares and suddenly there are 200,000 underlying shares that shouldn't exist.** + +You now have created 200,000 shares out of thin air that you can all sell to the market and create a short position with. Wait a second, those shares have to be reported and registered somewhere? NOPE, those are shares that aren't accounted for in the system. + +>\*\* “any securities accepted for deposit and any securities used to satisfy redemption requests will be sold in transactions that would be exempt from registration under the Securities Act of 1933, as amended (the “1933 Act”).” \*\* + +But they have to buy back those shares from the market if they want to give back the borrowed share that they just dissolved so that everyone is happy again? You might say: "They create 200,000 shares, sell them to the market which is going short and then they still need to buy back those 200,000. What have they gained of that?" - **well, they simply only buy back the shares that they DON'T wanna go short on or they don't sell most of the shares at all and simply take the synthetic GME shares and sell those to the market (which is naked short selling after all).** But the synthetic GME share still have to be returned so the ETF shares are fine again? Nope, as we already learned they can simply substitute them with cash or other securities. Through this process they can create GME shares out of thin air. + +While the creation process and how it can be abused might be speculation from my side. This process is actually extremely plausible and can be proven by individual facts. We know for sure that one ETF share can be borrowed out multiple times. We also know that APs (MM) are able to dissolve those borrowed ETF shares and we also know that the returning of the right weighting isn't required and that it can simply be replaced with something worth as much. + +By the way, APS don't have to borrow ETF shares to dissolve them. They can also just buy ETF shares and dissolve them and never return back the ETF shares/underlying securities to anyone. This of course reduces the amount of outstanding shares. + +[Used this image from another DD: https:\/\/www.reddit.com\/r\/Superstonk\/comments\/ofi0yw\/deeper\_dive\_into\_etf\_ftds\_and\_t35\/](https://preview.redd.it/zzebl3xvl4d81.png?width=892&format=png&auto=webp&s=9a91802f733c55eb1f70c438018afa6d2f636bfd) + +Just on a side note: XRT outstanding shares jumped from 10M shares to 2.5M shares at end of January 2021 while going back to 10M shares a few days after. Just normal ETF behavior that outstanding shares reduce by 4 times in a matter of two days. You ever wondered where they got new ammo from at the end of January? I think this the answer. + +Another interesting thing that I found was the disclosure of the institutional ownership numbers at the end of September 2021 (they have changed by now, nonetheless astonishing for an ETF that should contain about 3-10M outstanding shares): + +&#x200B; + +https://preview.redd.it/3r0erpgen4d81.png?width=783&format=png&auto=webp&s=553303b77c91894650b600785b0ccd468057768e + +Just the TOP 10 institutional entities hold around 25M shares at the end of September. This doesn't include the entities that aren't on this top 10 list and retail investors. I also think that mutual funds are excluded from this listing which also add more shares to the calculation but I'm not to sure about that. At some point in time there where 77 Million owners of XRT while 10 Million shares are thought to be outstanding. This was some years ago but XRT is one of the prime example of how unregulated ETF are prone to being abused. Many people that are deep into ETFs and our financial markets warn about the risks arising from ETFs and they use XRT as the prime example. + +If anyone knows about a source where I can find historical data for outstanding shares for the last year of XRT then please let me know. I'm extremely interested on that but unfortunately I couldn't find any of these data. + +I could go deeper into FTDs but I find it very hard to put them into an actual context and link them with certain activities. What stood out for me was the fact that major FTDs registering often arrived with the price of GME going down extremely. Citadel must have been slaughtering out borrowed XRT shares, not returning the securities needed for clearing in time, thus creating an FTD, which they then somehow managed to take care off. The massive amount of put options in this ETF could be another byproduct of delaying FTDs. But this would be too much for this post. + +**Conclusion:** THERE IS SO MUCH WRONG WITH THIS ETF. XRT is currently the most shorted ETF at all: + +&#x200B; + +[From today, shares outstanding are reported as: 3.1M](https://preview.redd.it/t857xh2mp4d81.png?width=430&format=png&auto=webp&s=39c285c69c1340105546ac207f56d77446ef3081) + +My wildest guess would be following. Citadel the market maker is creating ETF "creation baskets" of 50,000 ETF shares which are supposed to contain GME shares but they never actually deliver them and just settle the creation with cash while the sold ETF shares still register GME shares as their underlying securities and thus those ETF shares can be dissolved into GME shares at some point without GME actually ever being bought from the market. They are feeding the system synthetic shares AND then they are borrowing the same ETF shares that they sold, multiple times, creating even more synthetic shares because they never bought the required GME shares back and just replaced them with cash or security equivalents. + +If I think about it even more, they also could legitimately and rightfully produce a "creation basket" and actually deliver the real GME shares that they bought from the market and simply dissolve multiple borrows from the same ETF shares and just keep the GME shares without returning them. This also would create synthetic shares aka naked short position which would allow my speculation about the creation process to not be true. They simply dissolve a single ETF share multiple times without returning the shares they wanna go short on and settle those with cash while the ETF managers don't give a fuck as they make huge money on fees. + +But to be honest. I think they are milking the cow at both ends otherwise there wouldn't be 3.3M ETF shares created per day while only 3-10M are outstanding. I could imagine that those are created, directly dissolved and through Loopholes the GME needed for the creation isn't delivered in any case and the whole ETF weighting and representation of stock basket is completely wrong. + +While I searched for historical outstanding share data I also stumbled upon this gem: + +https://preview.redd.it/be1j2krus4d81.png?width=948&format=png&auto=webp&s=26c96d7fa7ddf2eebc6a3104128c70cbb8391b87 + +That's the **estimated short interest** for XRT. This data is delivered by ORTEX and ORTEX is describing estimated short interest as following: + +>The ORTEX estimate of the number of shares that are shorted.This uses the delayed official exchange data and is adjusted by the relevant percentage change of our intra-day stock lending data to give users another useful estimate of the very latest daily short positioning. + +**On the 19th October of 2021 ORTEX estimated (!!!) a short interest of around 66,000,000 shares.** Yes you read correct. Now calm your milkbags. It's only an estimation from ORTEX but this estimation is putting data together from official exchange sources and intra-day stock lending. Somehow excessive stock lending combined with the official exchange data came to the number of 66M short interest. I compared the estimated short interest with time delayed exchange reported short interest for the whole year and beside big runaways like this one, the lines are pretty much overlaying and being accurate. Something happened in those October days that caused the system to estimate a short interest 3 times the normal already mind blowing short interest. My best guess would be that there was extreme intra-day borrowing of the same shares that just completely busted the calculations of the estimated short interest. + +Guys I hope this wasn't too much and you could somehow follow my thought patterns. As I said, I'm no mastermind either and I'm more retarded than you think but all those things like high FTDs, outstanding shares being turned over nearly every day in volume, multiple owners for one share that should be existing, extreme lax ETF regulations and exemptions for market makers and option volume that represents the entire float multiple times. THIS MOTHERFUCKER OF AN ETF IS COMPLETELY RIGGED TO THE TITS AND I'M TIRED OF PRETENDING IT'S NOT. I think that Citadel the MM is abusing it's MM privileges to create synthetics through the creation (not 100% sure)/redemption/borrowing process of ETF shares. + +The SEC knows about the XRT situation since many years and even did a report about it. Yet they decided to do absolutely nothing. I can't find the report at the moment but they are mentioning many things that are truly suspicious and if I remember correctly they use naked shorting in regards of the activity going on in XRT. If someone knows about the SEC report I'm talking about then please link it for others to read. My saved posts got messed up by all the DD and comments I had to read over in order to understand this whole XRT fuckery. + +Strap your nuts and DRS. +What is a bust out? + +In a bust-out scheme, the identity and credit line of a business are used to obtain loans and goods with no intention of repayment. In some instances, businesses are created for this sole purpose; in others, legitimate businesses are acquired and used for the fraud. + +[https://www.computerworld.com/article/2535189/opinion--bust-out-schemes-are-a-fraud-designed-to-make-you-go-bust.html](https://www.computerworld.com/article/2535189/opinion--bust-out-schemes-are-a-fraud-designed-to-make-you-go-bust.html) + +https://preview.redd.it/aalj7l5rbg271.jpg?width=800&format=pjpg&auto=webp&s=89f2a430cede4aa749c399c5b5496c6f50a28650 + +In this post I will go over what I believe is a scheme set out by Amazon to capture and kill companies for market share. The scheme involves Amazon identifying a target, and with the help of it’s gang members, Citadel and Bain Capital, it Busts Out the target using it to capture and kill other competitors in the process. + +In this story I will be talking about Citadel, Amazon and Bain Capital, but you could easily substitute any MM for Citadel, any company for Amazon (MSFT, NFLX, etc) and any Private Equity Firm for Bain (Apollo). I am simply using these 3 because they were the parties I have looked at. I guess you could say if you go looking for shit in a sewer, you're gonna find it, and the Finance and business world seems to be a pretty big sewer. + +&#x200B; + +&#x200B; + +In the beginning Amazon acquired the competition Legitimately: + +&#x200B; + +https://preview.redd.it/jq97m01s9g271.jpg?width=500&format=pjpg&auto=webp&s=acd2a96e5b039e1353ed05b3916dd97a1e9c9541 + +Amazon has been known for capturing market share of just about every sector of the retail space, and now has its eyes set on movies, and maybe at one point even wanted to get into the gaming sector. + +Amazon started relatively small, and set its sights on an easy target: Books. + +But, Bezos wasn’t actually interested in just books, he wanted to create a company that was so big and so dependent on retailers that retailers were dependent on it. + +Well in the early 2000s, around the time amazon was becoming known for selling a little more than just books, it also sold toys for Toys R Us and had a few other things on the site, Amazon wanted to branch out further. + +There were other companies that were already successful in the ecommerce world, so instead of starting from the ground up, and taking down their competition, amazon simply acquired the competition. + +Some notable acquisitions include Quidsi, and Zappos. + +&#x200B; + +**Quidsi** + +https://preview.redd.it/pdk5mwqz9g271.png?width=200&format=png&auto=webp&s=7bdca8a49a466ef809bad61d5ebe8be336663548 + +Quidsi was an awesome adversary, they had domains and successful businesses such as Diapers.com, YOYO.com and Wag.com. The acquisition of this one company cost amazon $545Million in 2010, it wasn’t cheap, but it was easier, and likely cheaper than taking on their competition head on. + +Diapers.com was a growing and successful online retailer of all things babies related and even had the first army of warehouse robots, the same robots used by Amazon today (KIVA) + +YOYO.com was a toy ecommerce company, acquiring these guys helped Amazon capture part of the toy market, especially after Toys R Us nuked their deal with Amazon. + +&#x200B; + +https://preview.redd.it/ijhtn7o1ag271.jpg?width=311&format=pjpg&auto=webp&s=7511091c51c4de99cec7b7f3580cf33545c1921b + +WAG.com is a super interesting company here...WAG was/is a pet goods supplier. Do you know any online pet goods suppliers? Huh… + +&#x200B; + +**Zappos** + +https://preview.redd.it/jozjlzoaag271.png?width=200&format=png&auto=webp&s=70a4a67036edd0680ebc3e1f3b7b944585148521 + +In 2009 Amazon acquired Zappos for $1.2B, again not cheap. And to add further injury to insult, amazon couldn’t kill Zappos because the deal left the CEO of Zappos in place and allowed it to operate independently. Take a look for yourself: [https://www.zappos.com/](https://www.zappos.com/) + +[https://www.inc.com/magazine/20100601/why-i-sold-zappos.html](https://www.inc.com/magazine/20100601/why-i-sold-zappos.html) + +Well fuck, if that doesn’t piss off Bezos… + +Acquisitions are effective ways to capture businesses and get their market share. The advantage was multifold, you get a new business, a group of customers and you take out some of the competition. While this process can be quick, it can be VERY expensive. + +&#x200B; + +&#x200B; + +&#x200B; + +Ok, shifting gears a little, let’s take a look at another company; Bain Capital. + +&#x200B; + +https://preview.redd.it/kcf7v9lpag271.png?width=547&format=png&auto=webp&s=798e41ae07a762bb368acb4698c7fe436a531949 + +Bain capital was started and run by a little known figure, Mitt Romney. Heard of him? If you haven’t here is an excerpt from an article written by The Rolling Stone when Romney ran for President back in 2012 + +Mitt Romney: + +“And this is where we get to the hypocrisy at the heart of Mitt Romney. Everyone knows that he is fantastically rich, having scored great success, the legend goes, as a “turnaround specialist,” a shrewd financial operator who revived moribund companies as a high-priced consultant for a storied Wall Street private equity firm. But what most voters don’t know is the way Mitt Romney *actually* made his fortune: by borrowing vast sums of money that other people were forced to pay back. This is the plain, stark reality that has somehow eluded America’s top political journalists for two consecutive presidential campaigns: Mitt Romney is one of the greatest and most irresponsible debt creators of all time. In the past few decades, in fact, Romney has piled more debt onto more unsuspecting companies, written more gigantic checks that other people have to cover, than perhaps all but a handful of people on planet Earth.” + +“Instead of building new companies from the ground up, we took out massive bank loans and used them to acquire existing firms, liquidating every asset in sight and leaving the target companies holding the note” + +[https://www.rollingstone.com/politics/politics-news/greed-and-debt-the-true-story-of-mitt-romney-and-bain-capital-183291/](https://www.rollingstone.com/politics/politics-news/greed-and-debt-the-true-story-of-mitt-romney-and-bain-capital-183291/) + +Huh...Kinda sounds like a bust out...SHIT that *IS* a bust out! + +https://preview.redd.it/ht2l8s3wag271.jpg?width=700&format=pjpg&auto=webp&s=daaa7d501e5cdfaf3de6efa9462a0d2181e760fc + +Romney started off with good intentions, buying failing businesses and turning them around, notably Staples. + +&#x200B; + +https://preview.redd.it/7r610nbuag271.jpg?width=2220&format=pjpg&auto=webp&s=3fde846a3a1cb848868fd4ce556737f5202e2fb5 + +But Mitt liked to make money, and he soon discovered a new way to make it. A less honest, but faster and more lucrative way. Bain Capital would acquire failing businesses then bust them out. Infact, Bain would use the business itself as collateral for the loan to buy the business, ya, use the business’ own credit to buy the business. This process is known as a Leveraged Buy Out (LBO) + +Once Bain had control of the business, often they would install their own board members and executives, they would then distribute massive bonuses to executives that the failing business could not afford. Sometimes, Bain would use the business’ credit to purchase competitors, as they did with Toys R Us and FAO Schwarz, but we will get to that in a bit. + +Quick example: + +&#x200B; + +[Bain Had it out for toy companies for some reason](https://preview.redd.it/7b3w8co4bg271.jpg?width=416&format=pjpg&auto=webp&s=af91917f4dcbd9adc43834aae644d0916d76f2b5) + +Bain Capital acquired KB Toys in 2002 through a Leveraged Buy Out (LBO) under the guise of turning the company around, but this was just a front for their real intentions, you guessed it, a bust out. As soon as Bain had control of the company they issued massive bonuses to executives, bleeding the company of its cash. This would go on until the business declared bankruptcy, KB Toys filed for chapter 11 in 2004, 2 years after Bain came in to “Turn around” KB toys. + +“In February 2005, KB Toys' creditors, including [Hasbro](https://en.wikipedia.org/wiki/Hasbro) and [Lego](https://en.wikipedia.org/wiki/Lego), accused the company's top executives and majority shareholders of improperly providing themselves with multimillion-dollar payments prior to the bankruptcy.” [https://en.wikipedia.org/wiki/KB\_Toys](https://en.wikipedia.org/wiki/KB_Toys) + +Bain Lost control of KB toys during bankruptcy proceedings in august 2005, but the damage was done, and Bain walked away with some money, and some lessons learned. + +&#x200B; + +**Putting Geoffrey out on the street:** + +&#x200B; + +https://preview.redd.it/wlg7ppr6bg271.jpg?width=618&format=pjpg&auto=webp&s=d48b3dd80b59c6b5c94a876f502bb2557c4e46d3 + +Very soon after the lessons learned from KB Toys, Bain went after Toys R Us with KKR and Vornado capital in 2005 by means of LBO...this time with a sharper knowledge of how to bust out the company, and maybe help out newly acquired friends. + +When Bain et al. took over TRU they had a debt load of $1.86B, but for a company of TRU size, that was not unusual. Immediately after the Bain et al. acquisition that debt ballooned to $5B requiring 97% of TRU profits to service the interest on that debt. (Bloomberg) + +Debt made the company, with $11.2B in sales, less nimble and able to navigate the business and finance world. + +[https://www.theatlantic.com/magazine/archive/2018/07/toys-r-us-bankruptcy-private-equity/561758/](https://www.theatlantic.com/magazine/archive/2018/07/toys-r-us-bankruptcy-private-equity/561758/) + +&#x200B; + +https://i.redd.it/1mp68zc8bg271.gif + +While Bain Capital controlled Toys R Us, TRU acquired FAO Schwarz in 2006. TRU also bought Amazon’s main competition in the toys ecommerce sector etoys.com and [toys.com](https://toys.com), along with a few other websites babyuniverse.com and the resource site ePregnancy.com in 2009. [https://en.wikipedia.org/wiki/Toys\_%22R%22\_Us](https://en.wikipedia.org/wiki/Toys_%22R%22_Us) + +When TRU was fully busted out and tapped out for cash and usefulness it was liquidated and its parts sold off. It was the end of the massive toy retailer in the US and UK, and the demise of all major toy specific retailers both in brick and mortar and online. + +&#x200B; + +[These companies couldn't care less about the Communities and the people they hurt when these schemes are implemented](https://preview.redd.it/7lpymp3heg271.jpg?width=1200&format=pjpg&auto=webp&s=3e3842e23d94fab479dc24fa5f52e41ae92360f5) + +So who benefits the most from this? Retailers such as WalMart, Target, and of course, Amazon. + +&#x200B; + +**Papa's got a brand new Bag!** + +https://preview.redd.it/md1d65bebg271.jpg?width=960&format=pjpg&auto=webp&s=d947ce410557cdf5b96b2626690c4c31f77f640d + +This is where I believe amazon discovered a new, cheaper and far more effective way to kill its competition. Upto this point, Amazon had been buying up and swallowing their competition. This was effective, but VERY expensive. + +What if, and hear me out, what if Amazon could use a company like Bain capital to do a take over of the company that had a massive market share that Amazon would like to capture, then have Bain capital busts out that company, using said company to buy up any and all competitors both online and traditional retail then declare the company bankrupt taking down all the competition with it? + +But there is a problem...how do you get Bain Capital to take over a publicly traded company? Hostile takeover? Sure, but that would be EXPENSIVE. Buying all the stock ATM would not only be costly but may also backfire when shareholders refuse to sell. + +Well, what if you could lower the share price in some way that it made it possible to take over the company. How could this be done? + +As we all know, short selling on it’s own can’t really affect the price of a share, but it benefits when the share price declines. Well, what if you’re not truly interested in shorting a company to make money off share price decline. There must be a way to lower a companies share price by increasing the supply of shares on the market...Share dilution? + +&#x200B; + +https://preview.redd.it/n5c9ch2gbg271.jpg?width=1024&format=pjpg&auto=webp&s=ddc26fa3774bf8de03eb6c2bcbb70fbb05081470 + +Amazon, and Bain capital are not capable of diluting shares of any company they do not control, so how could they do this to the competition? They need a partner, someone who has access to a share printing machine...but who do we know who has access to one of those? + +**Enter Citadel** + +&#x200B; + +https://preview.redd.it/6jt6ds4ibg271.png?width=346&format=png&auto=webp&s=cb7b14b97cda41d5b8e1dc1ac3ed0dd4b5c85066 + +Citadel can create and sell fake shares, driving the share price of a targeted company to the point of either being delisted, or bankrupt, or both. When this happens, Citadel keeps all the money it makes from the short sale, never having to cover their shorts. I think by now you all understand how this works, so I'll leave it there. + +&#x200B; + +&#x200B; + +**The Gang Members:** + +&#x200B; + +https://preview.redd.it/b7par6rjbg271.png?width=225&format=png&auto=webp&s=4853b33dbc93c7906564a6c142dcc66534581559 + +Amazon (The Leader) + +Citadel (The Dealer) + +Bain Capital (The Butcher) + +Washington Post and Motley Fool (The Liars) + +&#x200B; + +&#x200B; + +**But now they need a plan:** + +&#x200B; + +https://preview.redd.it/chvl1mklbg271.jpg?width=960&format=pjpg&auto=webp&s=7d8ef0778483e0e8cd8b6d38e3224b17988ea45b + +The Plan + +1. Identify a target **(The Leader)** +2. Install or acquire **inside man** on the board of the company, maybe CEO/CFO +3. Spread rumors about the target though the media **(The Liars)** +4. Create a class action lawsuit against the company +5. Fire up the printers and flood the market with fake shares of the company driving share price through the floor. **(The Dealer)** +6. Company either declares bankruptcy or is delisted from exchange +7. Perform a leveraged buyout of the company, busts it out, acquires other competition to capture and kill, then when the company is so saddled with debt it can no longer stand, kill the company and let the wolves feed off the carcass. **(The Butcher)** + +Job done, Amazon kills its competition, Bain capital makes a pile while busting out the company, and Citadel keeps all the money it made selling fake shares. + +It’s a perfect, foolproof plan, until it’s not. + +Enter GameStop and the Apes. RUH ROH...You know the rest of the story up to this point. + +&#x200B; + +https://preview.redd.it/oahkl4fnbg271.jpg?width=1600&format=pjpg&auto=webp&s=524df48f5ae920eb9d8a4e7a680eff8e6078a89c + +Seems to me the only band member who is going to come out of this unscathed is Bain Capital, they get to slip through the back door leaving the rest of the band holding the bags. + +So what’s my conclusion? I think Citadel is just part of the machine. I believe MASSIVE companies like Amazon, Microsoft, Netflix and others have been using this scheme since the financial crisis of 2008 to capture and kill their competition. I believe there are many moving parts in the plans, and Citadel/Kenny is just a footsoldier, **not** the mastermind. + +There may be a bigger Bowser at the end of this world than we expected, kenny may just be a Hammer Bro. + +&#x200B; + +https://preview.redd.it/9bbmkaqobg271.jpg?width=650&format=pjpg&auto=webp&s=d396c183b6d4cd1685e074cdfb195a36cff7c0cb + +As a side note, there was talk earlier this week about AA and his connection to SHF. I think this guy got stuck between 2 worlds. He may have been installed by the gang in an attempt to bust out the company (fits well with MGM purchase). But Apes got involved and now he’s stuck between getting caught as an inside man for the SHF and actually having to be a good CEO. I believe he may be in self preservation mode, and has decided to jump to the winning team’s side. + +&#x200B; + +**Edit:** I'm just going to leave this here: [https://www.thestreet.com/investing/amc-gets-lift-on-revived-amazon-acquisition-rumor](https://www.thestreet.com/investing/amc-gets-lift-on-revived-amazon-acquisition-rumor) + +Oh, and there is a complimentary story by The Fool saying there is no merger... + +This was an accidental find + +**Edit 2:** + +Bain capital explained by Tony Soprano + +[https://youtu.be/reiq4lEvnEw](https://youtu.be/reiq4lEvnEw) + +This explains what Bain does VERY well + +Thank you to u/[AceoFiSpades](https://www.reddit.com/user/AceoFiSpades/) +Hi all, + +My boyfriend and I recently saw a townhouse in Irvine, California that we thought may be a good investment property. The listing price is $760,000 with $299/month HOA fees and has 2 bedrooms / 2.5 bathrooms. We'd occupy one of the bedrooms (for approximately 3 years), and ideally rent out the other room for a minimum of $1,500/month. After both of us move out, we'd (again, ideally) rent out the full townhouse for a minimum of $4,000/month. After doing calculations, it doesn't appear that we'd breakeven on monthly rental cash flow (note this is from estimating $5,175 monthly payments including mortgage principal + interest for 30-year fixed rate loan at 6%, HOA fees, homeowner insurance, property taxes, utilities) and we'd likely still have to cover a portion of monthly costs, but we believe the property will appreciate due to the coveted neighborhood (abundant amenities, close to airport and SoCal beaches, safe neighborhood, some of the best public schools in the country). Our plan would be to eventually cash-out refinance to purchase another property (and lower that interest rate..). Is this the right move for us, and does it make sense to purchase an investment property that doesn't cash flow but may appreciate quickly? + +Here are a few things to note: + +* We're both first-time home buyers so we'll take any advice we can get! +* My boyfriend's yearly salary is $130,000 and mines is $85,000 - we don't have any debt, have enough money for a minimum 20% down payment, have an emergency savings fund, and regularly contribute to 401Ks as well as max out both of our Roth IRAs. +* We can see this townhouse potentially being our "starter home" for a few years down the line before having kids +I've really enjoyed some of the logical discussions I've seen on here regarding how to handle yourself after the moass when it comes to money, taxes, lawyers, etc. One big question I haven't prepare for though is this: + +The big corps, news, all of the shills are going to attempt to paint us as villains and greedy fiends when this all goes down. We will be in one of the greatest spotlights ever shined in history. How do you plan on responding to those who are going to target you? + +Will you remain silent? Do you have a response set? This is one of those subjects that I am unsure about. I don't want to look like a bloody terrorist if MSNBC paints me that way. It's hard enough convincing people that this isn't a conspiracy and that it's the same trick they've used for years. +(Bloomberg) -- In the oil price war between Saudi Arabia and Russia, the first big victim is likely to be Canada. + +Hit by unfettered supply from Russia and Saudi Arabia and reduced demand as a result of the coronavirus, the benchmark blend of crude produced from Canada’s oil sands plunged to a record low of $7.47 a barrel on Wednesday. The fallout: Virtually every barrel of oil now produced there will come at a loss at a time when the oil sands generate 10% of Canada’s gross domestic product and a fifth of its exports. + +The losses could spur a stark turnaround for a country that boasted one of the strongest economies in the Group of Seven heading into the crisis, and for Alberta, a province that’s long balanced its budget on the back of its oil royalties. The region was already struggling with a pipeline shortage that curbed growth. The latest blow could spark a “domino effect” across governments, said Dinara Millington, vice president of research at the Canadian Energy Research Institute. + +“We are probably going to see another wave of layoffs,” Millington said by telephone. “We will see a reduction in terms of how much the producers are paying the government in terms of tax revenue and royalties.” At the same time, she said, the crisis could have ramifications beyond the purely economic, including “social unrest.” + +Making matters worse, certain quirks of oil-sands production limit how much they can throttle back money-losing output without raising the risk of permanent damage to their resources. The situation means Canadian producers may be forced to bleed red ink for weeks or months, depending on how long the price war lasts, before capitulating and shutting in output. + +“Most operators will choose to operate at a loss for a few months or a few weeks before making that decision,” according to Mark Oberstoetter, lead analyst for upstream research at Wood Mackenzie Ltd. in Calgary. Meanwhile, “everyone is losing at this price,” he said. “No one is in the black.” + +While the Candian crude benchmark fell below $8 a barrel, West Texas Intermediate futures in New York fell as much as 26% to $20.06 a barrel, the lowest since February 2002. Oil is now cheaper than any time during the global financial crisis, when the world economy largely came to halt for a few days. Demand is in free fall, with some traders saying it could drop by more than 10% compared with last year. + +For all of its wealth, the Canadian energy industry is sill in recovery mode after the last big oil rout in 2014. Historically conservative Alberta has also been locked in a struggle with Prime Minister Justin Trudeau’s liberal government in Ottawa over carbon taxes and regulations governing pipeline projects and crude-tanker rules, reducing some investors’ confidence in the sector. + +The results of those conflicts are grim. Alberta’s unemployment rate has remained above 6% for more than four years and stood at 7.2% in February. The province already was on track to run a C$6.8 billion deficit this year, and that projection was based on U.S. oil prices more than twice their current level and Canadian oil prices five times higher than right now. Even before the latest price plunge, producers had announced plans to cut capital spending by C$2.4 billion ($1.6 billion) to C$3.5 billion. + +Company Breakevens + +How bad could the latest losses be? Suncor Energy Inc., Canada’s largest integrated energy company, reported cash operating costs of C$28.20 per barrel in its oil-sands operations last year. Canadian Natural Resources Ltd., the country’s largest oil and natural gas producer, had operating costs of C$10.83 a barrel in its thermal in situ operations last year. + +Cenovus Energy Inc. is in a slightly better position, posting oil-sands operating costs of C$8.15 a barrel last year. But none of these figures include expenses such as royalties and transportation. + +The latest crisis is underpinned by the nature of Canada’s oil sands, a mix of sand, water and heavy oil called bitumen that is difficult and expensive to turn into usable fuel. + +Shallow oil-sands deposits can be mined, with the material scooped up by heavy machinery and dropped into large trucks that cart it off to facilities where the mixture is steamed and separated to release the oil. Mines, though, are limited in their ability to reduce production because they have high fixed costs that make them less profitable the less they produce. + +Deeper Deposits + +To access deeper deposits that can’t be mined, producers inject steam into the ground through one pipe to get the viscous mixture to flow into a parallel pipe that transports it to the surface. Those operations require a constant flow of steam in and bitumen out, and if that flow is slowed too much for too long, the reservoir can lock up, permanently reducing how much oil can be recovered from it over the long term. + +“A few weeks isn’t so much an issue, but if you shut in for months, you would have the reservoir cool,” Wood Mackenzie’s Oberstoetter said. “It’s the length of the shutdown that’s the factor.” + +While most Canadian heavy crude producers are able to operate at a loss for a couple of months, the first to shut down production would be the conventional operators who don’t face the challenges of oil-sands production, then more expensive oil-sands producers and smaller companies with weaker balance sheets. + +“Sustained shut-ins for months, that’s pretty uncharted territory,” Oberstoetter said. +Title says it. I am not going to link this to any events anywhere else in the world or GME in general. + +I am working in the field of law in Germany and used to study and work near/in Frankfurt, Germany - the financial capital of Germany. After seeing all the posts about offices lit up around the world, I was very suspicious - I hardly believe anything before I check it myself. + +So I hit up my closest friends from my studies because I know that one of their partners is still working in the financial sector to see what's up. + +Her fiance worked in Investment Banking (high up, not some intern) for Credit Suisse in Frankfurt. He switched over to another Top 100 AUM US-Investment firm, which I would not like to disclose publicly for obvious reasons (but can confirm to mods if needed), about 1 1/2 years ago. + +She told me that BOTH companies (their mutual friends still work at CS) have all of their staff working from home full-time since November. No exceptions for any position that's worth noting. + +This weekend, he worked full-time in the office. She did not know for what reason, she said that rarely happened before covid (only one time she can recall) and did not happen since November. In fact he did not work from the office since November for a single day. But this time he got called in late and was told to show up ASAP for a meeting. Not online, but in the office. + +&#x200B; + +\----- + +I can confirm this to the mods if needed. Be suspicious, don't believe me. I am a guy on the internet liking a stock. + +&#x200B; + +Edit 1: + +Since one Ape asked about the US-company: it has not been mentioned on this sub before. In fact, I did not know the company at all. They are high up in the Top 100 AUM worldwide, with big triple billion figures AUM. + +&#x200B; + +Edit 2 - Materials reviewed by the mod u/StonkU2 + +,,Materials supporting the relationship represented in this post have been provided and reviewed, and the connection based on those materials appears genuine. Note however no materials supporting the conversation itself or exchange have been provided or reviewed - this fact neither undercuts nor supports the statements asserted - but is an additional grain of salt to be aware of. Thank you u/sh0w3n for your diligence and participation in this community.'' +Description says most of it. + +Was just curious if I'm alone here + +I've been so focused on optimizing every aspect of my lifestyle it almost became unhealthy. I wondered how sustainable it was because I was killing myself at a job that I hated and still was many years out from reaching my retirement goal. + +I realized that it wasn't work itself that I hated but the type of work that I was doing. I decided to adjust my thinking a bit and save enough money for me to take a leap and start my dream venture. I still plan on taking the FIRE principles of frugality, minimalism and maximum savings but for a slightly adjusted goal. + +Can anyone relate? +This subreddit has been immensely helpful to me and I love every aspect of it, well, almost. + +Investing in index funds is highly recommended in the community, and probably rightly so. Nevertheless, I have been seeing this specific opinion being expressed excessively, often verbatim. So much so, I would like to call it the Whatsapp-foward message of this subreddit. + +&#x200B; + +>Avoid NASDAQ 100. It is having 54% of its money in 10 stocks and 47% of its money in Information Technology sector. + +Ok, let us have a look at some data, shall we? + +|Index|Top 10 stocks weightage| +|:-|:-| +|Nifty50|61.06%| +|NASDAQ100|54% (Actual \~50%)| + +&#x200B; + +|Index|Top sector|Weightage| +|:-|:-|:-| +|Nifty50|FINANCIAL SERVICES|39.47%| +|NASDAQ100|Information Technology|47%| + +If someone wants to point out that banks and NBFCs are different, so are Google, Amazon, Apple, Intel and Cisco. + +Which brings us to the main issue: What is the reason for repeatedly rejecting NASDAQ100 as an investment option, while continuously advising Nifty50? It's not like India's financial sector is the most stable and American IT companies are in a complete turmoil... + +&#x200B; + +Edit: Data - [NASDAQ](https://www.slickcharts.com/nasdaq100), [Nifty](https://indiancompanies.in/nifty-50-companies-stock-weightage-constituents/) +2022 is approaching and so are my mid 20s, lol. I want to make better financial moves to offset my setbacks in my earlier years. I know COL/industry is also a factor but generally what is/was your salary when you were able to max out both your 401K account ($19,500) and personal IRA ($6000)? + +I still make under $40K/yr but I plan on getting that changed significantly within the next year or so. + +I’ve maxed out my IRA for 2021, but to max out my 401K, I’ll need a bigger salary to be able to contribute and maintain my budget for monthly expenses. + +I make about $2000 a month after tax and my expenses/contributions are about $1800/mo. + +Thank you for the help. + +**Edit: Thank you all for your feedback and contributions. I have a much better understanding of where my salary figure should be headed. Of course I’ll keep an eye on the budget and lifestyle creeping, thank you again!!** +Hey all! + +Just got a bit of a shock (Not really but not expecting it to be this much of a jump) + +I live in Melbourne CBD, in a 1 bedroom + Dining room (Could be 2nd bedroom, has no walls) apartment that was built around 2004ish. + +I am currently paying $300 a week. Got it during covid hence it being so cheap. + +* No AC +* No Dish Washer +* No Bath +* No car park + +It does however have + +* Pool +* Gym +* Sauna + +I recently received an email that went will be going from $300 a week to $560 per week! I was expecting $150 a week, but $260?! Crazy. + +Went and did some looking online and found a number of nice apartments still listed for roughly $400 and asked them to justify the price increase and such. + +Hope you are all having more luck than I am! + +How has your rent increases been, and conversations been? +Is this how things should be? + +I earn £27K a year in London and every month I am down to my final pennies. I live in a run down flat with three others for £620 a month (great for London) and my personal bills are £300 or so including credit card debt (€2K on my EU credit card from an emergency when I lived abroad I can’t pay down, and £400 on my UK credit card (maxed) from extra grocery expenses that have added up over the months.) I budget well, don’t smoke or drink, and while I have disordered eating because of work stress (meaning I don’t cook meals but rather eat bread or dried food because I can’t stomach rich food) I am still running out of money. The tube costs so much. I buy myself take out coffee once a week as my only treat. I say no to dinner with friends. I don’t buy fashion. I can’t afford to date. And still just living in London is swallowing the £800 I have a month. + +Today is my birthday and I wanted to get myself a gift but I cannot, and I feel like I’m at the end of my rope. I see other friends my age going on holidays and going out every weekend and I can’t even consider it. My debt isn’t massive compared to people I know but I still feel like I’m drowning. I work 60 hrs per week in a corporate job and am underpaid, but that’s just my industry. I don’t know if I’m skilled enough to get a better paying job. I don’t understand how I’m in this situation and I’m desperate to get on top of it. + +Do I just throw the towel in and leave London? Do I keep applying for jobs? I feel like I’ve tried everything but I’m just not able to live. I know I’m extremely lucky to have access to food, a job, and a roof over my head. And still I feel like a massive failure. It’s really getting me down and affecting my health because I can’t see a way out. + +I guess my question is - is this how things are supposed to be post covid? Should I have savings by now? Health insurance? Driving lessons? Or are we all just surviving like this? + +Thanks for any advice +Hi! I've had a bit of an adventure in the stock market over the last month or so. Initially made some big gains on airlines an grew my pot by some 20% in about a week and felt really good but then lost nearly all of that profit by making impulsive panicky decisions (zero commission really enables that!) and then frequently reversing them. + +I've managed to calm myself down a bit and at the end of last week I bought a bunch of shares in well researched companies and an ETF, all of which that I planned to just hold onto for years. + +But I've now got the jitters because I might have done that at the zenith of the recent spike and I'm now down about 5%. Looking at past charts I'm pretty sure that even if there's another big dip I won't be down more than 20-25% by the end of it and I'm very sure it will recover eventually and I'll be better off than if I hadn't done this at all. That red number just makes me nervous. + +My plan from today: + +* Hold everything +* I there is a big dip, potentially buy more of my most trusted stocks +* Stop looking at it every five minutes + +Just tell me I'm doing the right thing :) +Not sure if this belongs on this subreddit but I need help. Just got laid off, have a wife and 2 kids to feed, living in nyc, rent 2100 per month. Have $21000 in savings only. No more health insurance due to lay off. + +What should be my next steps? +Should I stop paying rent all together so I can feed my family? My lease expires in sept. If I break the lease they expect me to pay $4500 plus rent for the last month. There is no way I can afford that. + +This corona virus is too much. + +I’m a physician assistant, don’t really have other skills. + + +Edit : thank you everyone for the overwhelming amount of positive responses, I did not expect this to blow up. I had an emergency so I wasn’t able to respond to everyone (long story short my mother in law had severe pain and had to take her to an urgent care and then get some tests done). I have read many many amazing responses and now have access to many resources due to everyone. Thank you so much, I cannot stress how much your kind words of encouragement put my mind at ease and given me strength to move forward. I haven’t told my wife yet about being laid off, she had a stressful day worrying about her mom and I figured I didn’t want her to worry more. We also had a pregnancy scare, and it seems it was just a scare. I need to take a breather. Thank you all again and I will try to respond to everyone soon. +Hi everyone - huge bitcoin supporter here. I spend a lot of my time debating over in the other subreddit with BCH supporters because I believe BCH is a poor idea that is eventually going to lead to centralization, which Bitcoin can never succumb to. + +Over the past year, as bitcoin has become mainstream, we have all witnessed the price skyrocket and have all, in my opinion, become blinded by it. Bitcoin's has a MAJOR issue right now. Simply, day by day, wallets that have less than the minimum amount of satoshi/byte fee that will get a confirm in them are essentially useless/worthless. Also, any form of commerce for bitcoin is essentially impractical now. I was absolutely alarmed when in an interview, Jimmy Song was forced to answer what he would use as "currency" if he had to use it for an online transaction, and he said "Visa". I immediately realized just how absurd and hard headed the bitcoin community has become in this blocksize debate. People would rather push others wanting to purchase things online with Visa than to improve bitcoin immediately. My main issue with the current state of affairs in bitcoin is that we have lots of people offering us promises, but no immediately solutions. LN has been talked about for years now. So, what are we supposed to do... sit around and HOPE LN is immediately adopted when it comes out and everyone starts using it for low/no fees? I think.... no I KNOW one day it will be adopted, basically making all other cryptos obsolete. However, how far off is this? 1, 2, 3, 4 years? Nobody knows. But in the immediate/short future, what is the bitcoin community supposed to do? Sit around and pretend that $10 fees to make a simple transaction are OK? What happens if other cryptos decide to fill in that vacuum while we sat around waiting for LN, which by the way is not guaranteed to fix this fee issue. Even with LN, most smart people agree that at some point Bitcoin HAS to increase the blocksize. On LN, you still have to be opening/closing channels, plus people are always going to want to use the main blockchain to do transactions for maximum security. + +I think it's time the community backs a blocksize increase. We KNOW it has to happen at some point, so why not now? Bitcoin is in a very desperate place. Don't be fooled by this massive price spike. We have to make some serious decisions about what we are gonna do now to fix this. Sit around and wait for LN, or do the inevitable now, and increase the blocksize to 2mb. I'm officially putting my vote in for an immediate blocksize increase to 2mb. + +Discuss and please keep it civil. +https://preview.redd.it/1s2dv78pw4771.jpg?width=498&format=pjpg&auto=webp&s=55bfc6294370bf1e90a32829a97e3672e9f28b8c + +John J Murphy’s TA as misconstrued by u/Phlanoe + +# Post 3: Support and resistance + +&#x200B; + +We have seen so far that prices move up and down in such a way that they appear as a series of peaks and troughs as shown in the figure below. These peaks and troughs show where sentiment changes – where demand outstrips supply or vice-versa. These points of change in direction are called Support and Resistance. + +The peaks are called resistance. It helps me to think of it as my point of resistance, i.e. “Fuck off, I’m not paying that!” + +The troughs are called support – likewise, “Shit yeah, I’ll support them at that price! Give me a bag to hold!” + +&#x200B; + +https://preview.redd.it/fd3z21r1x4771.png?width=590&format=png&auto=webp&s=a4504f3285abab8a597d6e564edcab66d3c318e4 + +The point made by JJ in the description of this chart is interesting: Support levels can often be previous resistance levels in uptrends. In downtrends, resistance quite often matches earlier support. I was sceptical until I jumped into Trading View for a look. I’d recommend you do the same. It’s surprising, or not, depending on your view of the general population and their foibles (read idiocy). + +If you don’t have Trading View and are interested in chautism, I’d highly recommend you sign up. There’s the free version which I use and the advanced, boss level Trading View for full-blown chautists. I can’t justify the cost as yet but imagine I will at some point. + +It pays to have it, or something similar, as you can fuck around in there, back-test all this stuff, draw lines and see for yourself what all these different aspects look like in real life. Sometimes, things are initially hard to spot but gradually reveal themselves as your eye gets better. + +At this point I have to declare that I was trying to maintain a reasonable skepticism about TA. After playing with Trading View for a good part of Sunday, looking at LOTS of different companies (blue chip to pennies) long, intermediate and near-term, price + volume, support and resistance etc, I can actually see stuff and am finding it harder to be skeptical. + +OK, so identifying support and resistance in an uptrend is important. Each support and each resistance level *must* be higher than the ones proceeding. Should a support point be as low as a proceeding one, It may well be an indicator that the uptrend is over, you’re about to get sideways. If it breaches a previous support level, a trend *reversal* may be likely. You’d be looking for confirmation of either at this point. + +At the same time, every time a new resistance point is being tested, you’ll want to pay attention. Failure to exceed a previous peak is usually an early indicator that the trend could be changing. Again, you’d be looking around for confirmation that what you’re seeing is an indicator of a *reversal*. + +The figure below, JJ says, is a *classic* reversal known as a *double top*. + +&#x200B; + +https://preview.redd.it/r628ncalx4771.png?width=585&format=png&auto=webp&s=d38d4f580faf0c710c54c2f93ff52d2de5dd00fc + +As with many other things we’re learning, the inverse also applies. A pair of parallel support points at the bottom of a downturn can indicate a *double bottom* reversal. This would be confirmed when the resistance level between the two, parallel support points is overcome in the upturn following the second support point. God I hope that makes sense… + +All good so far. Support, resistance, reversal. Then JJ goes and chucks a googly… + +“When a support or resistance level is penetrated by a significant amount, they reverse their roles and become the opposite. In other words, a resistance level becomes a support level and a support becomes a resistance”. + +This hurts but makes sense when we consider the psychology behind support and resistance. + +**S&R Market Psychology** + +To illustrate, JJ divides “investors” into three broad groups: + +1. Longs. Those who already hodl +2. Shorts. Those already committed to sell +3. Uncommitted. Those either already out (sitting on their cash) or still undecided whether to be a long or short. + +To start, let’s assume our fictitious company, ticker NOB, starts to rise after flopping around flaccidly for ages. + +Long NOB holders who bought in at support are cheering, shit-posting like crazy and regretting not buying more. If NOB twitches, they will buy the dip coz free money is just grouse. + +Soon-to-be former NOB holders, (short NOBs) will no longer be holding their NOB and wish they did. They will also pray for a dip coz where Lambo? Need more money. Short NOBs want to get back in where they sold or lower in order to profit, not as is the ASX\_Bets way, at new highs. + +The uncommitted either never held NOB, paper-handed their NOB and are salty AF or are holding but freaking out that this growth is uNsUStaiNaBLe and are likely to paper-hand it. All will be praying for a dip to get back in where they were weak or at least, not at new highs – coz everyone wants Lambo. + +*Everybody* decides to buy the next dip. They all have a vested interest in the previous support. Should prices get close, a buy frenzy will take place and push prices up. The more FOMO and YOLO that takes place around that support, the more significant it becomes and the more interest is vested. The more interest in a support level, the more solid, and less prone to breach, it is likely to be. The longer it has traded (either resistance or support) and the higher the volume the more reliable. + +In this example, a price drop off an increase (resistance) creates new, firmer support. + +Now let’s look at the opposite. Imagine prices are falling and drop *beyond previous support.* The reaction becomes the opposite. All those that “bought the dip” of NOB realize that they are about to be new bag-holders. Stop losses trigger, BUy turns to SeLL, people panic and support flips to resistance. What may have been a solid level of support with good volume and duration now becomes an impenetrable ceiling of resistance. The more solid the support the more solid the resistance should it flip. Long’s, Short’s and Uncommitted’s combined behaviours guarantee it. + +***JJ asks us to pause at this point and reflect on why the chautist can reliably predict what may happen. It’s not magic  – it’s simply knowing people will reliably do the same thing again and again, usually expecting different results.*** + +TA works because it is a historically proven record of what idiots are *actually doing* in the market. Remember old Dow: + +*“The sum and tendency of all transactions represents the sum of ASX’s knowledge coz people are dumb c\*s and stupid is as stupid does”.* + +Or something like that. + +**Degrees of penetration** + +So we now know that support penetrated good and deep becomes resistance and vice versa. Check out the charts below to see what it looks like. I’d recommend taking some time again to go find examples in Trading View and analyse them at some length. It’s worth checking out the conditions leading to it and factors such as volume, duration etc. + +&#x200B; + +https://preview.redd.it/7gji1cyez4771.png?width=608&format=png&auto=webp&s=220fd8405633db67414e95c8a9f353f4d5da80a9 + +So what constitutes a significant penetration? Is seems it’s a matter of opinion. Some say 3% others differ. + +**The significance of round numbers** + +Because we are all a little special, round numbers have quite an impact on whether prices advance or decline. 10 is more attractive than 7, 8, 9 or 11. The same applies to 20, 25, 50, 75, 100 (and multiples thereof), 1000 and multiples thereof. No shit. + +They form price objectives and operate as psychological support and resistance levels. A clever chautist will recognise this and profit from it by selling his NOB at $0.095 before every other idiot does at $0.10 leading to a big dump in price. i.e. taking profit as an important round number approaches. + +The same principle applies when placing a buy order – you would hang a pip or two either way depending on what the other data tells you, if the round number is near your target price. + +For those of you that use stops: JJ says don’t place them on round numbers as a general rule of thumb. The round numbers are a bit magnetic and tend to draw prices in to them at very high volumes – for better or worse. + +He recommends stops on long positions just below round numbers and stops on short positions just above. + +**Trendlines** + +Now we get support and resistance, *trendlines* are the next, simple and logical progression. They are also one of the most valuable tools. + +I’ll admit I’ve always been deeply skeptical about trendlines. It always looked to me that you could draw a line from any support or resistance point to another to prove or disprove whatever stupid idea that came into your head. As has happened many times since I picked up this book, JJ has given me a clip around the ears and shown me how much I don’t know. + +Without further preamble, an up trendline is drawn up and right along successive support points. Down is right and down along successive resistance points. + +&#x200B; + +https://preview.redd.it/83p931ie15771.png?width=1220&format=png&auto=webp&s=789c10a51a990b5dbf76c610b51dc77e5e0026c6 + +&#x200B; + +https://preview.redd.it/3dl11zwf15771.png?width=610&format=png&auto=webp&s=8e041e6cf4b941076a5800522c31a0d991aa92fb + +Note the validity test. The correct drawing of trendlines, like most other aspects of chautism, is a bit of an art. It can take a few attempts and a bit of experimentation to get it right. You may have to alternate between arithmetic and log scales for example, to identify a trend and make the most of it. + +It pays to take your time, fuck around with it until you get it. + +Trendlines are handy because trends in motion stay that way until they’re broken. Draw a trendline, use it for all your buy/sells but once it’s penetrated GTFO. Because the aim of the educated chautist is to buy dips in an uptrend, you have a nice baseline to work from and a nice resistance indicator in a downtrend to help with pricing on the way out. + +&#x200B; + +https://preview.redd.it/4s6ri6kv15771.png?width=596&format=png&auto=webp&s=eddf40cbd83b71e8a27bf3eace6ae97d08cd4a87 + +The point of all of this is to make and take a profit and free up your bread to punt another day. There is nothing smart about becoming a bagholder. Once you see that trendline railed and you are ahead, bail if it doesn’t fit your long/swing/pip strategy. If it does hodl. + +At least you’re making an informed decision. + +Trendlines can be more or less significant. More if it’s been in motion longer and tested more than thrice. You’d trust one that’s been in play for 9 months more than one running for 9 days. The flipside: The more significant the trendline, the more significant a deep penetration. + +If you’re going to draw a trendline on a candle chart, don’t draw it at the day’s close price but at the range point of the day’s trading. It’s like a low res pic of Rose Byrne v hi res. You know which gives you all the info you need. + +So what if it’s only a tickle instead of a deep drill penetration and what if it happens intraday but doesn’t penetrate if you look at daily charts? Do I redraw my trendline, panic, sell my NOB? + +JJ says that closing prices beyond trendines are more significant than intra-day penetration – Barry would agree. + +He goes on to add that sometimes a closing penetration isn’t enough. Most chautists employ various time and price filters in an attempt to isolate valid information and eliminate white noise, or what he calls whipsaws. One example of this is to apply a 3% penetration criteria. He suggests this is useful for longer term trends. The idea being that a trendline being broken by at least 3% on *closing price* is a fair indicator of the vibe turning sour. + +He goes on to provide examples and indicates that 3% is not really appropriate for shorter timescales. There’s lots of whys and wherefores so I’d suggest you check out the fine print yourself and DYOR GALAH but the basic point is that on very short timescales, 3% is a lot and can be the difference between a win and a loss. The basic advice is, this is just one filter or tool, and there are many at the chautist’s disposal – don’t be in too much of a hurry to die on that particular hill. His advice is to apply filters to suit the scale of the trend, your timeframe and trading style. + +As an example of other filters, he offers a time filter. A common one being the two-day rule: To be a valid penetration, prices must close beyond the trendline for two successive days. Of course, all the above caveats apply. These filters apply equally to up and down trends. + +As discussed earlier, Support and resistance become opposites once violated – previous support becomes the new resistance etc. The same applies for trendlines. JJ says it’s worth extending old trendlines out to the right so that you can take advantage of this knowledge as time progresses and new data comes in. + +This has turned into a huge post – I apologise for that but it’s great info and a real fundamental of TA. It was worth getting it all in one go. + +I’m going to pull up there and say a little more on advanced concepts in trendlines next post. + +Catch you then. + +Edit: clarity +I’m a 24 year old software dev making $90,000 (which should continue to increase by a decent bit over the next few years) that wants to make the most out of my money. Originally I was just dumping excess into stocks (about $2500-3000/month) but it seems like real estate can yield better returns than simply throwing money into index funds. I want to shoot to retire in my early 50s and if I get lucky my 40s. + +My very rough plan is to do what’s mentioned above until a get to 4/5 properties, putting ~10% down for each. Making sure I keep my equity at a decent % to prevent ruin (what % would this be?). While also continuing to invest in stocks. + +I’ve paid off my student loans. + +What should I start doing now to prepare for this venture? + +Edit: I don’t care too much about living lavishly as well. + +Edit: forgot to put my credit score, 770 +Before an unfortunate death. + +Before libelous slander against a Chairman of a publicly traded company. + +After that same Chairman and Company gave their retail in store employees stock grants. + +After that Company created their first NFT offering and sold out the first day of selling. + +While that Company’s share price dropped approximately 40% on no specific company news. + +Remember when GME removed their credit rating? That was approximately 96 hours ago. What the hell timeline are we living in. + +🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 + +We are buying a big retail building and recently found out from the city that neighbor building’s water line actually runs through under our building. (The waterline actually broke 12 years ago, and the repair cost splinted by both seller and neighbor) + +This line was put in place by the developer at the time those buildings were constructed. (30 years ago) City consider it is a ‘joint-ownership’ line between The building and neighbor building. + +However, the City admin told me they had some money in their Capital Improvement Program to fix this issue, but they don’t have a exact plan yet. + +If we purchase the building we are buying it with the understanding that a water line runs under the building that also services Neighbors and there is no definite timeline for water service to be available at the front of the property instead. + +My question is how big is this issue? I’m not sure if this is a deal killer issue or not. Current owner seems to operate the building for 20+ years without any issue. Does anyone experience anything similar? Should I lower my price because of this issue? +I'm from a 3rd world country with a very unstable economy and hyper inflated currency. I got into cryptocurrency at the beginning of COVID because I lost my job and there were no other jobs available, so I did some research and saw how fiat and will of governments are the major reason my people suffer this much and also how crypto can help bypass these restrictions. + +So, after doing research and calculating electricity costs and gains, I invested most of my savings into a small mining rig which ended up earning me more money per month than my previous job because the price of ETH got better. For reference I was making 110$ per month from my job, but I was earning roughly 160$ from mining every month. I found another job recently, but for quite some time, mining was my primary source of income. Now I roughly earn 300$ per month, mining + my job. + +Anyway the reason I brought this up was to show how little I was earning and how I still managed to invest in crypto. Usually investing requires a large amount of initial capital (Such as stocks and property), which many people don't have, but crypto doesn't have any such barrier. I started spending less and less on things I didn't really need. Smoking, drinking, occasional drug use (marijuana) and ordering food all the time. These can be anything, for me it was these things. Some people spend excessive money on collectible, games, clothing etc... So its up to each individual to find out what is their needless spending. + +I quit smoking, drugs and alcohol and started cooking more. This allowed me to invest around 1$ per day in BTC or coin of my choice. Sometimes I simply held onto my ETH instead of selling it, and sometimes I bought another coin. But as I said, it was around 30$ a month. It's basically nothing in terms of international value, but it was decent amount of money for me (inflation is a bitch) and now depending on the coin I invested in, I have profits in almost all of them. Even though I convert most of my mining into fiat to spend on bills and costs of living, every investment I made I've been hodling ever since. It didn't make me rich or anything, but now I have basically tripled my investments and have more in savings than I ever did. + +Which one are you more likely to regret more: + +1. I could have spent the whole year smoking and drinking, and eating bad food, but I didn't +2. I could have spent the whole year investing in crypto and living a healthier life, but I didn't + +In fact, with my savings, I would feel less terrible for indulging in things I quit now and then, because its no longer a big economic drain like it used to be and we are all human, so we do deserve some leisure spending. Its all thanks to that crucial year of investing. + +I recommend everyone to do their own research, but I still believe it's early enough to invest a small amount of your income in crypto every month, hodl and see profits long term. My mother thinks I am some kind of genius for tripling our savings, but she simply doesn't understand the concept of crypto. In reality, I was just following crypto info on my 2nd monitor while gaming and not spending money on things I didn't need. I am no genius. Crypto simply provides investment opportunities to people who don't have large initial capital to invest in traditional investment avenues. + +I hope this has been helpful to other people with low income, specially others who are also from countries that have unstable economy and inflated currencies. Even 1%-5% of your monthly income in crypto is a good long term investment, but as always do your own research and pick your coins. I didn't do "day trading" or try to invest in new coins, hoping they would go up. I mainly invested in coins that were solid already. I would suggest the same for fellow low income investors. In the end this has been my experience, and I thought I should share it. And don't forget, this is just for one year. The more we hold, the better. Finally, even if we don't make it, we have merely sacrificed unnecessary things in our lives, we still have the friends and connections we made along the way. + +P.S: Happy new year and Nowruz to everyone who follow Iranian/Zoroastrian solar calendar around the world! The equinox is upon us and spring has sprung! Happy first day of spring. + +Edit: Thanks a lot for all the rewards and support! I would love to message each one of you to thank you individually, but there is so many of you! Thank you very much for all the support. +I'm from a 3rd world country with a very unstable economy and hyper inflated currency. I got into cryptocurrency at the beginning of COVID because I lost my job and there were no other jobs available, so I did some research and saw how fiat and will of governments are the major reason my people suffer this much and also how crypto can help bypass these restrictions. + +So, after doing research and calculating electricity costs and gains, I invested most of my savings into a small mining rig which ended up earning me more money per month than my previous job because the price of ETH got better. For reference I was making 110$ per month from my job, but I was earning roughly 160$ from mining every month. I found another job recently, but for quite some time, mining was my primary source of income. Now I roughly earn 300$ per month, mining + my job. + +Anyway the reason I brought this up was to show how little I was earning and how I still managed to invest in crypto. Usually investing requires a large amount of initial capital (Such as stocks and property), which many people don't have, but crypto doesn't have any such barrier. I started spending less and less on things I didn't really need. Smoking, drinking, occasional drug use (marijuana) and ordering food all the time. These can be anything, for me it was these things. Some people spend excessive money on collectible, games, clothing etc... So its up to each individual to find out what is their needless spending. + +I quit smoking, drugs and alcohol and started cooking more. This allowed me to invest around 1$ per day in BTC or coin of my choice. Sometimes I simply held onto my ETH instead of selling it, and sometimes I bought another coin. But as I said, it was around 30$ a month. It's basically nothing in terms of international value, but it was decent amount of money for me (inflation is a bitch) and now depending on the coin I invested in, I have profits in almost all of them. Even though I convert most of my mining into fiat to spend on bills and costs of living, every investment I made I've been hodling ever since. It didn't make me rich or anything, but now I have basically tripled my investments and have more in savings than I ever did. + +Which one are you more likely to regret more: + +1. I could have spent the whole year smoking and drinking, and eating bad food, but I didn't +2. I could have spent the whole year investing in crypto and living a healthier life, but I didn't + +In fact, with my savings, I would feel less terrible for indulging in things I quit now and then, because its no longer a big economic drain like it used to be and we are all human, so we do deserve some leisure spending. Its all thanks to that crucial year of investing. + +I recommend everyone to do their own research, but I still believe it's early enough to invest a small amount of your income in crypto every month, hodl and see profits long term. My mother thinks I am some kind of genius for tripling our savings, but she simply doesn't understand the concept of crypto. In reality, I was just following crypto info on my 2nd monitor while gaming and not spending money on things I didn't need. I am no genius. Crypto simply provides investment opportunities to people who don't have large initial capital to invest in traditional investment avenues. + +I hope this has been helpful to other people with low income, specially others who are also from countries that have unstable economy and inflated currencies. Even 1%-5% of your monthly income in crypto is a good long term investment, but as always do your own research and pick your coins. I didn't do "day trading" or try to invest in new coins, hoping they would go up. I mainly invested in coins that were solid already. I would suggest the same for fellow low income investors. In the end this has been my experience, and I thought I should share it. And don't forget, this is just for one year. The more we hold, the better. Finally, even if we don't make it, we have merely sacrificed unnecessary things in our lives, we still have the friends and connections we made along the way. + +P.S: Happy new year and Nowruz to everyone who follow Iranian/Zoroastrian solar calendar around the world! The equinox is upon us and spring has sprung! Happy first day of spring. + +Edit: Thanks a lot for all the rewards and support! I would love to message each one of you to thank you individually, but there is so many of you! Thank you very much for all the support. +Last time I was looking for a new rental to lease I came across a listing through [Cubbi](https://www.cubbi.com.au/). From what I understand it handles most of the day to day jobs of a property manager like maintenance requests, payment handling, listing to [realestate.com.au](https://realestate.com.au) and [domain.com.au](https://domain.com.au) and tenant screening. + +I'm just a renter so I don't know exactly what it's like on the other end of the lease contract. But as a software developer it seems to me like most of the tasks of a property manager can solved with automation and self management and you can save yourself a large percentage on fees. + +Is it a generational thing, with many landlords maybe being older and would rather manage the property traditionally? Or mostly just that they would rather not deal with any of the management themselves and just receive passive income? +Welcome to the Daily General Discussion thread of /r/EthTrader. + +Find the latest Daily Altcoin Discussion thread by selecting the top result on this [search page](https://www.reddit.com/r/ethtrader/search?q=Daily+Altcoin+Discussion&include_over_18=on&restrict_sr=on&t=all&sort=new). + +*** + +The thread guidelines are as follows: + +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All sub rules apply here so please review our **[rules page](https://www.reddit.com/r/ethtrader/about/rules/)** to become familiar with them. The rules page is also linked in the announcement bar above. +- If the top page becomes overloaded with memes, all but the top two voted may be removed. If we need to remove a bunch of memes from the top page, post memes in this thread first and upvote the best so the mods know which ones to keep + +*** + + Resources and other information: + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! + +Welcome to the Daily General Discussion thread of /r/EthTrader. + +Find the latest Daily Altcoin Discussion thread by selecting the top result on this [search page](https://www.reddit.com/r/ethtrader/search?q=Daily+Altcoin+Discussion&include_over_18=on&restrict_sr=on&t=all&sort=new). + +*** + +The thread guidelines are as follows: + +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All sub rules apply here so please review our **[rules page](https://www.reddit.com/r/ethtrader/about/rules/)** to become familiar with them. The rules page is also linked in the announcement bar above. +- If the top page becomes overloaded with memes, all but the top two voted may be removed. If we need to remove a bunch of memes from the top page, post memes in this thread first and upvote the best so the mods know which ones to keep + +*** + + Resources and other information: + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! + +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! + +I'm new to investing myself at 36 and wanting to help out my dad who is 67 and has never invested, but does have a relatively small nest egg (100k-150k?) from a lucky property sale. + +I want to help him get set up with passive income and it feels like div investing is a good option for him, but I don't where to begin. + +Questions I have - Should he get set up with an IRA? Which type? What portfolio diversity is best at his age? (Any ticker tips?) Can he realistically depend div income to help him through retirement? + +Some additional details - This nest egg is all he's got in the bank. He is getting a small monthly social security payment. And he also has some rental income from a small rental property. + +Forgive me if I left anything out. Really appreciate any advice you can give. +I’m 25 and have just had my mortgage approved! I never thought I’d be able to do it on my own, on minimum wage, but I managed to save a good deposit over the years. My parents have always been terrible with money, and growing up listening to it, with no monetary guidance, I was scared I’d be just like them. But here I am! It’s a small flat but it’s perfect for me and I’m so happy! Now just 16-20 week wait to get in there. I’m sure I will be posting here a lot for advice and tips very soon +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! + +I'm about to receive a lump sum of €77,000 after tax and I'm not very comfortable having that much money sitting there in the bank considering I own no assets and have no debts. + +Property prices in my area are the highest they have ever been - I'm not sure it's the right time to buy. However, I would get about €7,000 in tax back if I invest in property within the next 2 years, but only if it is my primary residence. + +The markets are also going down and I'm worried about investing in stocks or funds for that reason. + +I would like to keep €12,000 as an emergency fund. + +Going forward after expenses I'll be able to invest about €500 per month. + +Basically, what would you do in this situation and at this time? I am in the EU. + +Thanks in advance. +Browsing reddit, see a lot of people asking what sell walls are, and an equal number of people giving a poor explanation of their actual purpose. I was going to reply in a comment, but I feel that a lot of people can benefit from a short write-up on them. + +#What is a sell wall? + +A sell wall is a tool used by a rich individual,or group of rich individuals, to manipulate the price of a stock downwards. A large sell order is set at a specific price by the whale(s) to prevent higher sell orders from executing. + +A sell wall looks like this on the depth chart: http://brettwestbrook.com/wp-content/uploads/2017/07/Screen-Shot-2017-07-12-at-12.58.10-PM.png + +###How does it work? + +This is best explained as an example. + +A wealthy person, we will call him Richard, tells a group of his wealthy friends that he wants to make money on a particular stock. This could be for a number of reasons such as: + +* The stock has a lot of room to grow +* The stock can be easily manipulated +* The stock has a lot of potential to get big in the near future + +Richard and his friends decide that it's a good idea. They all want 1 million of X cryptocurrency. *Unfortunately, in the cryptocurrency market Richard and his friends can't execute all the buy orders at once or the prices will skyrocket!* + + +To achieve 1 million obtained goal, they decide to set up a sell wall, and manipulate the price downwards. They do this in steps: + +1. They accumulate together. They will maybe get 250,000 of X crypto each. In their specific market, this didn't affect the price that much. Great! + +2. They now set a specific price they feel is low enough for them to be able to reach their 1m X crypto goal. For this particular crypto they decide to all sell their obtained crypto at $2.40. + +3. Now, between Richard and the group, there is >1 million dollars worth of X crypto selling for @2.40 on the market, a seemingly undervalued price.There is SO much volume being sold now, buying pressure cannot eat through that wall in a reasonable time frame - it would take a very high buying pressure to do so. + +What also happens next is the key: nobody else can sell above that sell wall price until it's gone. The result? People need to sell lower than the sell wall in order to liquefy their stock. This drives the price downwards. + +Richard and his friends can now safey all get to their 1m X crypto mark without raising the price exponentially! When they decide to rid their sell walls the price moves up accordingly! + +##How can you use this to your advantage? + +A common thought is that the main goal of a sell wall is to instill fear into the weaker hands so that they sell by the thought that "Oh no everyone is selling!!" While it's not the main purpose, it probably does happen a little bit. People get nervous when things a large volume of crypto is being sold. + +As Warren Buffet said: *Be Fearful When Others Are Greedy and Greedy When Others Are Fearful.* + +For a real life example: + +VECHAIN. + +For those that don't know, about a month ago vechain was sitting around 29 cents. They had a pretty large announcement that was, yes, front page of reddit. The price nearly doubled to 70 cents (it actually happened right before the announcement). + +What happened after? Some people bought the rumor and sold the news. But, this news was really big. Masternodes, rebranding, big partnerships. Ask any VEN holder why the price didn't continue to rise after that and they will probably know why - price manipulation with sell walls. + +Such as: https://i.redd.it/bjaubsgn04601.png + +VECHAIN has had a lot of new partnerships, announcements, and generally great news to propel the crypto further, but has been held back by these sells walls constantly. Just recently buying pressure has been very high and the whales have been having trouble controlling it they way they would like. + +That's a real example of what has been happening. Take a look at roadmaps and see where different projects are at in development. Are any projects getting seemingly great news without moving in price? + +What about REQ? We saw a couple of front page posts about REQ moving to main net, quality pictures from the UI, etc etc. REQ was fairly stagnant around 30 cents before slingshotting to 80 cents in nearly a day. Sell walls and price manipulation.This field is speculative so any news drives buying pressure. Unfortunately, the very wealthy have a say as well. + +Look for great projects and determine if they solve a need. Look to see what's hitting the media's spot light, such as the front page here. **THEN take a look at the depth charts on the exchanges.** In crypto anything goes, and you better believe the very wealthy have difficult to obtain knowledge. When you see these obvious sell walls, you want to investigate and try to identify any trends. + +Perhaps you can look at **volume** of a cryptocurrency. A stagnant crypto with LOTS of volume is a huge indicator, sideways consolidation. Ripple did this for a few weeks, even months at certain stages. + +Once you find one that looks good - **you'll need to hold at the mercy of the whales.** Trust me, they want profit more than you do. The wait is almost always worth it because price will rise very rapidly once selling pressure is completely abolished. + + +Hope this helps guys. + +P.s. I’m not a financial consultant, this is just helpful information or fun facts if you will. +With pandemic and work from home, I finally have a work life balance. I can be present and do a lot of volunteer activities with my son’s school and *gasp* walk my dogs everyday. + +For the 2nd time in my life, I don’t wish the time away. It used to be that I always look forward like “the next better paying job”, “ the next vacation”, “to be a mom” etc and just put up/endure the daily grind. + +I looked at my son this morning and it just hit me how grown up he has become. I am cherishing every moment and don’t want the time to go by. + +This only happened to me twice. Once when I gave birth to him (and 7 months off from work) and now. + +So for those who already fatFIRE, are you more present or you are still wishing the time away? I imagine you should be more present, yes? +# [UPDATE THREAD HERE](https://www.reddit.com/r/personalfinance/comments/a69km8/update_robinhood_checking_and_savings_may_not_be/) + +**Due to issues with Robinhood referral spam, this is the one and only thread we are going to allow on this topic.** + +___ + +**Overview:** + +[Robinhood is launching a new zero-fee checking and savings account feature.](https://blog.robinhood.com/news/2018/12/13/introducing-robinhood-checking-amp-savings) + +- No monthly fees, no overdraft fees, no foreign transaction fees, and no minimum balance. +- 3% interest rate +- Mastercard debit card issued through Sutton Bank. +- **Not a bank account, insured by the SIPC instead of the FDIC and may not qualify for SIPC protection, see below** +- Free access to 75,000 ATMs, many of which are located in such retailers as Target, Walgreens, and 7-Eleven. +- Signing up people now, but debit cards won't be active until January. + +___ + +**SIPC Coverage:** + +Robinhood [claims](https://support.robinhood.com/hc/en-us/articles/360001469903) that accounts will be covered by the SIPC. However, this claim now appears to be dubious given comments by the director of the SIPC, who, in an interview with Bloomberg, [said](https://www.bloomberg.com/news/articles/2018-12-14/sipc-says-it-has-serious-concerns-about-robinhood-s-new-product): + +> "I disagree with the statement that these funds are protected by SIPC," Stephen Harbeck, president and chief executive officer of SIPC, said in an interview Friday. "Had [Robinhood] called us, I would have told them what I just told you in that I have serious concerns about this. This has gigantic ramifications for the banking industry." + +Current media coverage of this issue tends to support the idea that Robinhood checking funds would not qualify for SIPC coverage ([here](https://www.axios.com/robinhoods-new-checking-account-b2b0df32-40c6-4bd1-b336-2408b27f16b0.html), [here](https://www.cnbc.com/2018/12/14/sipc-chief-raises-concerns-to-sec-about-robinhoods-free-checking-accounts.html), and [here](https://www.barrons.com/articles/robinhood-app-is-offering-a-3-interest-rate-to-take-on-the-banks-51544723146)). + +___ + +# Please do not post a referral link or hint about referrals in this thread or you will be banned. We want to keep the subreddit free of spam and advice given for the wrong reason (i.e., self-benefit). + +Hi everyone, I got a kitten last year. Before getting her, I extensively researched how much they would cost over their lifetime, what unexpected costs may occur etc to make sure I could financially be responsible. Now that I actually raised a cat from 8 weeks -> 1 year I thought I'd share my costs! + +**Expected:** + +£90 - Price of kitten: private seller from pets4homes + +£60 - Initial litter box, litter, food, pet carrier bag, collar + tag, cat tree + +£20 - Toys + +£20 - First vaccinations + +£55 - Pet insurance + +£65 - Vets4pets complete cover care: covers annual checkups, vaccinations, flea/tick medicine (will be £110 next year) + +£140 - Neutering: added on the recovery 'suit' instead of cone of shame, plus post-op fluids + +£30 - Microchipping + +£100 - Litter: From Costco + +£120 - Food: Mix of IAMS dry (10kg bags from Amazon) and pouches (grocery stores) + +Sub-total: £700 + +&#x200B; + +**Unexpected:** + +£15 - Second litter box: she played in the litter tray for a while so we got a covered litter box + +£15 - Second collar + tag as she lost her first one somewhere + +£30 - extra toys she didn't use... + +£25 - toothbrush and paste: although she doesn't like it and prefers a brush + +£10 - She liked my hairbrush so much that I gave that to her and bought myself a new one + +£50 - Flea products!! Spray, powder, collar, medicine... She bought them into the house last year and it was a nightmare trying to get rid of them. + +Sub-total: £145 + +&#x200B; + +**Total for 1 year: £845** + +Thoughts: Most articles estimate that cat costs are around £1000 a year, which I think makes sense and would be wise to expect and budget for. For me, the company and joy she has added to my life completely outweighs these costs, but it's definitely not an insignificant amount of money. + +For example, I haven't gone on any major holidays this year due to covid so haven't spent anything on cat-sitting costs. She may have an accident which will incur extra vet costs. She is a small cat (3kg) and is not picky with food, but I hear larger cats eat more food and also specific (sometimes pricey) brands. + +I'd be happy to talk more about my experiences as a first time cat-mum and will edit the post it I remember any other costs! + +&#x200B; + +EDIT: Things I forgot: + +* My cat like scratching on the sofa, so we will need to replace it in a few years. +* We bought a £35 timer-feeding tray from Amazon. The clock didn't work properly and also realised she doesn't overeat, so we didn't need it in the first place!! +* [Cat tax! 😻](https://imgur.com/a/qL7Yx3J) +Hello all! I am looking at a home/condo purchase in the 5 - 7 year range and a car that will need to replaced in around 5 years (I am a high mileage driver, so I can pinpoint when I'll need a new one pretty easily). + +I am currently saving for these purchases in a regular savings account. + +I do have a brokerage account I fund as a future bridge account if I choose to retire early. It's invested 70% is US index ETFs, 20% in world index ETFs, 5% in bond ETFs, and 5% in "flavor of the year" ETFs, leveraged ETF plays, equities, etc. + +This is obviously too aggressive for something I will need to call on in the next 5 - 7 years. Any recommendations other than keeping in parked in savings accounts? +TLDR: BCG (allegedly) stole patented technology from an employee, fired him, and published it themselves for DeBeers. DeBeers is the slimy diamond cartel that has been pillaging third world countries for decades. Plaintiff got suplexed by the fuckboi BCG legal team and his suit was thrown out due to failing the "Alice Test". Even though his patent clearly demonstrated a "Useful Improvement of Physical Phenomena". + +**SKIP TO MY FIRST EDIT IF YOU DON'T WANT TO READ THE LEGAL JARGON** + +Sauce: + +[https://cases.justia.com/federal/district-courts/new-york/nysdce/1:2020cv02285/534347/58/0.pdf?ts=1648837917](https://cases.justia.com/federal/district-courts/new-york/nysdce/1:2020cv02285/534347/58/0.pdf?ts=1648837917) + +&#x200B; + +https://preview.redd.it/76zqo7vzk7s81.png?width=700&format=png&auto=webp&s=538e149f9097ef84263bfb0818cba079a9e278d5 + +**Rady v. Boston Consulting Group, LLC et al** + +**FACTUAL BACKGROUND** + +The following facts are taken from allegations contained in the Second Amended + +Complaint and are presumed true. + +&#x200B; + +Mr. Rady underwent a Masters/Ph.D. program at Kings College at the University of + +London in August 2010, researching primarily “physical optical properties, photonics, + +spectroscopy, and statistical modeling and analysis for predictive rendering.” Second Amended + +Complaint (“SAC”) ¶ 6, ECF No. 30. Mr. Rady claims that he “incidentally” developed a method + +to **“Technology .”** Id. ¶ 7. ***This method involves “3D spatial mapping and spectral*** + +***analysis to determine each individual identification signature,” recording these signatures into*** + +***a blockchain, which “allows users to guarantee the authenticity and provenance of each item’s*** + +***location and source throughout the supply chain, even where significant modifications are*** + +***made to that item.”*** Id. Mr. Rady claims that his method and system will quickly authenticate the + +provinces of gemstones “without the need to confirm with central authority no matter how many + +times the gemstone is cut, polished, or otherwise modified.” Id. ¶ 8. Mr. Rady’s technology has + +been claimed in United States Patent No. 10,469,250 (“‘250 patent”), but he maintains that other + +aspects of the technology are kept in his confidence as trade secrets. Id. ¶ 9 + +&#x200B; + +In June 2016, Mr. Rady was employed by BCG, working on projects unrelated to + +identifying counterfeit gemstones. Id. ¶ 10. Mr. Rady claims that in 2017, BCG began work with + +De Beers “to develop a method to identify and insure the provenance of gemstones,” but could not + +develop a solution until contacting Mr. Rady. Id. ¶ 11. Mr. Rady then disclosed to BCG technology and + +alleged trade secrets included in his then-unpublished patent application. Id. ¶ 13. BCG agreed + +that the information he provided would be held in strict confidence and they would not use the + +information without his consent. Id. + +&#x200B; + +***BCG then publicized TRACR, its gemstone provenance and authentication method*** + +***developed for De Beers. Id. ¶ 14. Mr. Rady claims that this method was “substantially similar to*** + +***the detailed method disclosed to BCG by Mr. Rady.” Id. Mr. Rady alleges that BCG did not*** + +***compensate him for the use of his technology and terminated his employment. Id.*** ¶ 15. + +&#x200B; + +**I. Plaintiff’s Patent Claims Fail Under the Alice Test** + +The Federal Circuit has asserted that “whether a claim is drawn to patent-eligible subject + +matter under \[35 U.S.C.\] § 101 is a threshold injury.” In re Bliski, 545 F.3d 943, 950 (Fed. Cir. + +2000), aff’d sub. nom. Biliski v. Kappos, 561 U.S. 593 (2010). 35 U.S.C § 101 defines patentable + +inventions as “any new and useful process, machine, manufacture, or composition of matter, or + +***any new and useful improvement thereof***.” 35 U.S.C § 101. ***“The laws of nature, physical*** + +***phenomena, and abstract ideas have been held not patentable.” Diamond v. Chakrabarty, 447 U.S.*** + +***303, 309 (1980).*** + +&#x200B; + +**CONCLUSION** + +Accordingly, Defendants’ motions are GRANTED and Plaintiff’s infringement claim + +(Count I) is DISMISSED. The Clerk of Court is respectfully directed to terminate the motions at + +ECF Nos. 37 and 40. The parties shall file a joint status letter no later than 14 days from the date + +of this decision. + +&#x200B; + +# EDIT 1: Found this article which is an easier read, plus some added color, than the legal documents - [https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/software-developer-accuses-de-beers-boston-consulting-group-of-ip-infringement-59088564](https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/software-developer-accuses-de-beers-boston-consulting-group-of-ip-infringement-59088564) + +## Software developer accuses De Beers, Boston Consulting Group of IP infringement + +Diamond miner De Beers SA and management consulting firm The Boston Consulting Group Inc., or BCG, are being sued in U.S. federal court on allegations of intellectual property infringement and the misappropriation of trade secrets in their development of a gem authentication and tracing platform unveiled in 2018. + +A former BCG software developer, Max Rady, filed a lawsuit in March in the U.S. District Court for the Southern District of New York claiming the Anglo American PLC subsidiary and BCG improperly incorporated the developer's personal research in creating TRACR, a blockchain-powered diamond traceability platform. De Beers worked with BCG to develop the program, part of an effort to mitigate sourcing of diamonds from conflict zones and to track potentially fake gems. + +According to a May 20 court filing, Rady had privately developed a system for tracking the provenance of gemstones using blockchain technology and filed for a U.S. patent on this method in December 2017, which was granted two years later. However, after learning of Rady's work in "early 2018" while he was employed at the firm for other purposes, certain BCG executives overseeing work on the project for De Beers contacted him and suggested that they could implement the invention in the final product, according to the filing. Rady claims that he then shared details about his technology "in strict confidence." + +Months after Rady disclosed the information to the BCG executives, the company "publicized its gemstone provenance and authentication method developed for De Beers, which became known as TRACR," the filing stated. "This method was substantially similar to the detailed method disclosed to BCG by Mr. Rady and its use and disclosure was contrary to BCG's agreement not to use or disclose without Mr. Rady's consent." + +De Beers spokesperson David Johnson said in an email that the company denies the allegations and "will be defending this claim." A representative for BCG declined to comment on Rady's time at the firm or the allegations referenced in the lawsuit. + +Legal experts told S&P Global Market Intelligence that the case is complicated and they expect both companies to aggressively fight Rady's claims. But, if successful, the lawsuit could leave the companies vulnerable to substantial financial exposure. "What this means in the end is, if \[TRACR\] is a process that's valuable, a large financial exposure for De Beers," said Dmitry Karshtedt, an associate professor of law at George Washington University. + +Intellectual property cases are complex and expensive undertakings, attorney Nicole Galli said in a June 17 interview. Galli said the complaint filed by Rady's attorneys was "thoroughly prepared," and there is "obviously a lot of history" between Rady and BCG leading up to the legal proceeding. Galli expects the companies to push back as hard as they can. + +"Given the value at issue here and given the size and scope of the defendants, I am sure they are going to put up as many road blocks as they can think of," Galli said. "I would expect it to be hard fought." +Hi! + +I currently live in a VHCOL area in the US making about $2m per year at a public (recent) tech company. Based on stock price this fluctuates between $1.8m and $2.2m pretty routinely. + +I received a job offer from my spouses home country for a fast growing startup that is still private. At current valuation, the offer is about 25% of my current pay (30% if you account for tax and cost advantages). This roughly breaks down to $225k base and $300k options per year (current share price minus strike price). + +There are obviously a lot of projections I can try to make about value of my current stock, value of their company, etc, but I'm not sure if that will help. BUT, for what it's worth, if the startup 3x's in value, I will be making the same amount of money as I am now. If my current company grows 50% over the next few years, the startup would need to 4x to stay in lockstep. + +I guess I'm wondering if anyone has ever taken a big pay decrease like this and been happy about the outcome? My spouse would like to be closer to family, I crave adventure, etc, but it is hard to walk away from the pay. + +Thank you! +Using a wheel as the strategy, does anyone here average $2k+/week? I'm going to try it out at a small scale starting Monday, I've done fine with covered calls and will be doing my first csp. I don't play with meme stocks, I will only wheel faang or similar. When I quit my job I will have 1.5mil to play with and I'd like to know if that's enough to not work again and live off premiums. + +Edit: the $2k/week parameter is just looking for people who are successfully executing the wheel and making that or more. I realize that's not a great return on my capital. +After working for 3 years as a software engineer I have no savings to my name and no knowledge about investing or financial planning (fortunately I am debt free, for now). However, I am going to attend the Northeastern University this Fall for my Master's in Information Systems for the next 2 years. I am afraid that the massive education loan I am incurring will cause a lot of problems for me in the future, due to my lack of financial acumen. + +I am a 24 year old male and I don't know where to start, everything I read just seems too complex. I need a starting point and guidance on what exactly I need to avoid a future financial crisis. Please help. +I’m 27F, in Midwestern USA, and deaf. I’m the sole breadwinner for my partner (who is in year 1 of law school) and I. Income is never enough to have any money left over, but all the bills get paid mostly on time. I’ve only ever worked retail at one store (despite transfers and a short period (8-10 months?) where I resigned and was rehired) since 2016, and have no experience anywhere else. + +ETA: I also receive disability benefits, but it’s not SSDI. so it’s a benefits + part time or full time exclusive situation. + +I want to quit my current job (11/hr) so bad i can barely stand it. But I’ve never gotten a call back from anyone ive applied to, and I don’t mean recently. Nobody, ever, has contacted me back from any places I’ve applied. I’ve been looking for work that meets our financial needs since i got the retail job. I have a BA in English literature and I’d be happy doing secretary work or something. I’m desperate to have a routine. Any form of regular schedule. Had a health scare recently and the doctor told me that the best thing I could do to prevent my health from deteriorating was to hand in my immediate notice. Dad had a stroke at 45 and I don’t want to die young. I feel like I’m going to. + +Problem is, I’d have to make a bare minimum of $18 an hour (after deductions for insurance and taxes) just to break even. I don’t understand how to convert this to salary pay, so there are definitely applications I’ve skipped over because of this. I’m losing faith that me getting this “pipe dream job” is even possible. I feel so incompetent. + +I’m not sure where to post this, so if it’d be better suited for another subreddit, I apologize. I don’t usually browse the more serious side of Reddit, but I’ve been feeling emptier than ever, and I don’t know what to do anymore. +At least, Ukraine's economy isnt portryaed as big of a deal in the news as Sri Lanka's. My question isnt really asking about these two specific events. I'm more interested as to how a country at peace goes bankrupt and falls into social upheaval, while a country that is at war, blockaded, with a fifth of its territory under occupation still manages to have a somewhat functioning goveenment & society. + +I'm even more interested in understanding how countries can afford wars in the first place. Do countries have like an 'overdrive' button? +I was looking at something, and noticed that the "defacto" owner (or largest stakeowner) of Samsung (group) is weighted at just 9 billion usd. How is this possible? Samsung, worldwide conglomerate, major player in high tech and in other industries, with hundreds of billions of revenue per year, and yet it is valued lower than, let's say, gates, musk, bezos... + +How is this possible? +# You cannot open an actual account + +&amp;#x200B; + +if you're like me and watch youtube and you are jealous that our neighbours to the south have webull. Honestly webull charts, data, just everything is amazing. + +By a stroke of luck, I just randomly made an account thinking nothing of it but you can have all the data, charts etc. The only thing is you cant trade on the platform. + +But hey usually you pay $50/m on questrade for real time data charts and here you get it for free +With the used car shortages, the residual value is much lower than the actual value. Look into into for your own good. + +Edit: I forgot to add that you can just buy and keep it. Just don’t turn in a lease without checking your lease paperwork for buyout info and current market value for your car. We bought out our Lexus and after paying taxes we paid 13k less than market value. We should be able to drive it for 2 or 3 years and get what we paid for it. + +Edit #2…Thanks for the awards. +So for over a year now, I have been preaching the good word of GME to anyone who would listen. For the most part, it has fallen on deaf ears. But today I had someone asking me about the Pulte situation, and immediately after that, he asked me about how I DRSed my shares. Even if it's just 1 guy that I work with, even if he has just 1 share (he may have more, I didn't wanna ask and be rude) then that seems like proof to me, that the movement is growing. + +Really proud of all you apes. + +Obligatory 🚀 💎 ✋️ 🌙!!! + +Edit: got a notification about 45 minutes ago that the post had over 1000 upvotes, and I was like, "wow". Then I clicked and it has less than 500. I'm assuming reddit notifies you of the amount of upvotes, regardless of downvotes. Just a weird thing I thought was worth mentioning, I wonder why so many people downvoted. Hopefully I didn't offend anyone. + +Edit 2: and now it's autocorrected over 1800. Wtf is going on? +I've seen some posts about EtherDelta being under new ownership. Now they are running this suspicious token sale, and lets face it, the UX has always left a little to be desired. + +I'm a dApp developer, working on some pretty unique stuff at the moment (coming Q1 2018), but I wanted to ask the community, would you like to see EtherDelta be rebuilt, open source, with a focus on transparency, security, and user experience? + +There will not be a token sale, a public API will be included (with appropriate rate limiting), the gas costs will be reduced considerably (I design contracts a little more "minimally"), the contracts will be open source, and the platform fees will likely remain the same. Thoughts? Questions, comments, and concerns welcome. +Specifically: could a communist utopia work from a purely economic perspective and if yes, how would a working communist utopia work? +Furthermore if somebody could recommend some books on the marxist economics, I would appreciate it. +I don’t even know if I’m in the right spot right now, I am actually extremely flustered and really not sure what to do. + +Yesterday, I quit my job effective immediately after working there for 14 years. I was a full time worker & I was very good at my job. It was a very small family business where I was practically the only person who wasn’t family, but I felt like I was. We had all become very close over time, knew eachothers secrets & hung out occasionally. So you can probably imagine how I’m feeling. + +My boss has been under some pretty extreme stress the last 12 months with family issues and I have done everything I could to be supportive. I worked 70-80 hour weeks so they could do what they needed, go on much needed holidays, etc. Yesterday I think everything must have come to a head. I was making fun of myself since I did something stupid the night before and he didn’t “get it”. I laughed when he didn’t & he started getting snappy, I told him I was joking about myself and there is no need to get defensive. He went bright red in the face, started wagging his finger in my face, yelling that if I plan on trying to make him look f***ing stupid, expecting f***ing retaliation. I told him to stop please, and he just got even angrier. So I had enough (he did this 6 months ago and I walked out for an hour and come back to apologise for walking out), when I said I am not dealing with this & going home, he said fine go. I said, I quit, and he said, good, bye, at least I don’t have to pay as much long service! He deleted me off social media etc. + +I got in my car and cried. I called fair work and wage inspectorate Victoria and I know my rights and the loss of a weeks wage for no notice but I am entitled to my leave. + +My main question is, what do I do now? He’s been my employment for 14 years, he will give a bad reference for future jobs? How do I explain the breakdown to future jobs when they ask why I left? I know it’s bad taste to talk badly about a previous boss. Especially with the history of 14 years friendship. + +Sorry for rambling. I’m just distraught. +1. Debt free + +2. Cohen in charge of the board (chewy bested amazon in the digital pet products war) + +3. Amazon's best ecommerce people joined the board + +4. Crypto-Currency and Blockchain personnel added to the team + +5. Esports transition + +6. Monopoly on brick-and-mortar video game sales in the U.S. coming out of the pandemic + +7. 300% increase in revenue from e-commerce sales addition + +8. Possible dividend and share recall during earnings and vote coming up + +9. Gamma Squeeze shown to be highly likely by analysts this week + +10. Negative beta ensures protection against a falling dow jones +I am 29, Spanish and live in Malta. I have over 100K in cash and about 80K invested in etf/stocks and a bit of crypto. I want to reach FIRE before 45. Thinking on investing in real estate back home but taxes and the fact I am not there doesn’t help. I think I have too much of my portfolio in cash and although I will keep investing in stocks I don’t want it to be my only investment. Let me know what you guys would do. Thank you! +Citadel is like the athlete in college that got caught roiding up. Now the entire team has to go get tested, and half of them are going to fail. + +Wall Street has been so comfortable with their illegal activities since the inception of the US stock market. Everyone naked shorted, dark pooled, media manipulated, pump and dump, etc. You name it. If it’s illegal, they have done it. + +Imagine all these hedge fucks sitting high on their piles of money, buying lambos and mansions and laughing and mocking the retail investors. All of a sudden, their overconfident, retarded, bully of a brother Shitadel decides to fuck with the entire system, keep doubling down on naked shorts, and now every tactic is blasted for everyone to see. + +6 months ago barely anyone knew about all the fuckery being pulled by Wall Street. And now, the whole world is well on their way to knowing what bs has been going on from the US stock market. It’s the end of an era for Wall Street hedge funds, banks, brokers. Beginning of a new era for retail traders. + +Don’t get me wrong, there is still much more reform needed to be done before I put any trust back into the US stock market. But all the DTCC rules being quickly passed, that’s a start. More rules will follow. Definitely stricter enforcement will follow (unless they want to see another consequential market crash). And retail investors (those that will keep investing even after the GME saga) will know exactly what to look out for. + +Anyways, just wanted to shitpost and revel in the irony of it all. Thanks Shitadel and friends. +So many people just tell me forex is a fools game, that im gonna loose all my money and its the worst idea ever. Ive spent a few months learning and reading amd researching, has that been wasted time? Im starting to doubt myself on if this is a good idea or not. +Hi. I bought cryptos in 2012 and I've been hodling all this time in deep cold storage. I'm what you would call a crypto millionaire. I'd like to know what other people in my situation are doing regarding the tax man. Do you disclose your holdings? All? Some fraction? Nothing? What are your future plans? What if your net worth goes 10x or 100x or 1000x in the upcoming years? How are you preparing? Do you have or plan to have some kind of corporate structure to handle your wealth? If so, in which country/ies? + +FAQ: + +1. Am I from the US? No. +2. Am I looking for advice or encouraging tax evasion or something illegal? No. +3. Am I giving away money to strangers commenting here? No. +4. Is this post fake? No. +Holy 5#!T…. + +(I’m 25) + +It’s official I’m finally debt free. The early hours this morning (29th November) I finally reduced my student overdraft to £0.00. Sitting here looking at it - it genuinely doesn’t feel real. + +This time last year I was living at home £3000 in debt with a student overdraft, no savings, living paycheque to paycheque at what I felt was a dead end job that I absolute hated. Thank you for messing up my initial plans COVID. + +My mental health was down the drain, had talking therapy sessions and life just seemed… shit. + +Fast forward today, I’m working at a well known tech company who look after me very well, I now live with my girlfriend full time and to be frank im giving all credit to her. I think I can even say I think she saved my life. She has supported me absolutely from the get go from day one and she is the reason why I am debt free. + +When we moved in together we calculated finances and both agreed on the amount we’ll each pay. From a previous relationship her credit score wasn’t the best as he had taken credit out in her name (story for another day), so I had agreed to transfer rent and my cut of bills to her in order to help build up her credit rating through direct debits etc. + +Little did I know she was tucking a little bit of my commitment away into her savings and putting it aside and has been cutting down on the food shop etc to balance out the difference. + +I went to her to talk about finances as she had said she wanted to go to winter wonderland in London and I had mentioned how I wanted to clear this burden off asap and get the ball rolling with savings. And yeah she said well it’s sorted and transferred me the money and said “you can finally close it and we can start saving for the future.” + +Where do I get this women an engagement ring she deserves? +This must be the worst time to invest in RE. Home prices are still sky high and interest rates are high, and rising. It’s really hard to cash flow in this environment. Maybe the best thing is to sit this one out +[Icahn’s Big Payday](https://www.bloomberg.com/news/articles/2020-08-11/icahn-scores-1-3-billion-windfall-on-bet-against-shopping-malls) + +Investor Carl Icahn’s bet on the downfall of brick-and-mortar retailers produced a $1.3 billion gain during the first half of the year. + +The profit came from a short position on commercial mortgage backed securities, Icahn Enterprises LP said Monday in a regulatory filing. Icahn’s publicly traded holding company has committed capital to his proprietary investment funds and thus reports on their returns quarterly. + +Icahn, 84, began making the bet, frequently called the “mall short,” in mid-2019 by purchasing credit default insurance using CMBX 6, an index highly exposed to shopping mall loans. The likelihood of defaults soared in March as the Covid-19 pandemic led to store closures and prompted more consumers to shop online, accelerating a trend already well underway. +They’re priming the pump now, using the current real squeeze as the groundwork for their future scam. Once GME squeezes to unimaginable heights there are going to be millions upon millions of dumb money retail investors around the world kicking themselves for missing out. They’ll be desperate to get in on the next one, without realizing that short squeezes were exceedingly rare events even before all the new DTCC rules went into place to make sure one of any significant magnitude never happens again. + +What they’ll do is report high short interest in a security that they have complete control over, the media will cover it extensively as bad actors go long with a big enough position that the price starts running. Then the normies will pile in thinking it’s a squeeze. Then the bad actors will dump it at their desired high price point. In retrospect the chart will look like a squeeze actually did occur but really it will have been a pump and dump disguised as a squeeze. +Should we end on-going weekly payments for bridge development (currently valued at 300K Donuts per week being paid to the developer working on it)? + +**YES** would end the payments immediately. If desired, a future poll can be created to compensate the developer(s) of the bridge with alternative reward conditions. + +**NO** would continue the 300K weekly payments indefinitely until another poll is passed to end them, since there is no current end condition. + +[View Poll](https://www.reddit.com/poll/bzradc) +Or surprisingly well for the pay / include great benefits such as company car etc. + +As an example; my friend works as a BT engineer and said “it’s super easy, way more fancy than it sounds” He has a company van and works 3 nights a week on £50k annually after 2 years (30% bonus for nights) +What's your magic cash number or stock hold where instead of re-investing gains you would take them out as a livable wage? +For instance if I get 1k shares of SPY I feel like I could live very comfortably just running the wheel. Selling weekly 10 covered calls or CSP's 4 times a month I could see someone very reasonably generating 10k a month to live on, that's even after cashing out a 70% return vice getting assigned and taking a chunk out for taxes. +Or is your idea of retirement just accumulating enough to live off dividends? +I Love You guys so much man, + +Its been hard to dream while i was in FUD that the whales might bail before i reach the ceiling, i have yeeted everything with my teeth grit, challenging the world to come at me while i hide behind my 8 shares to take me to the moon, And now i see the XXXX and XXX hodlers are making way for us X, thats the shit my family even wont do for me ...Behalf of all the X hodlers THANK YOU SO FUCKING MUCH + +Edit: Reading each and every comment and my heart skips a beat, We are going to go down in history as the best community that ever existed !! +They will constantly nag you about it, whenever they hear that BTC crashed or something. They will tell you "told ya so" many times. They don't understand what Crypto is and does, they only know that it is very risky. They don't see the purpose or the value, they only see what their Boomer media tells them. + +Do yourself a favor and keep your investments for yourself, your mental health will thank you. + + +Edit: I'm glad some of you have a more supportive and understanding family than I do. Unfortunately, not everyone is blessed like that though. +I just thought about this argument short sellers keep using. That they help uncover fraud. Why don't they just submit their fraud to the SEC? Isn't that the point? Or are they saying the SEC is corrupt and the only way is to destroy the company on the open market? What the actual fck is the argument here? The more I think about that defence of short selling the more I'm blown away that we just gloss over that primary argument. + +When you suspect there is fraud, how isn't going to the SEC the first thing you do? If your answer is the SEC is useless and doesn't have teeth then isn't the problem the SEC? How the fuck does short selling even factor into this? + +>Side note, the argument that short selling helps price discovery is just as stupid. I buy a share, you think it's going down, I say here, short it then mofo. But that's not investing. That's fcking gambling. There should be a separate industry. Called the stock casino or something. They can have derivatives too. It should have no bearing on the stock market other than for people to look and see what the degenerate gamblers think the price should be. + +But ya, uncover fraud. What the actual fck? If you think there is fraud just report it??? How is the answer short selling? That statement is so stupid, every time I say it, I feel dumber. Stormtroopers of the investing universe is exactly right lol. +Stories like below remind us that just because you have insurance, doesn't mean you are covered: + +[https://www.npr.org/sections/health-shots/2020/01/29/800870904/a-41-212-surgery-bill-compounded-a-patients-appendicitis-pain](https://www.npr.org/sections/health-shots/2020/01/29/800870904/a-41-212-surgery-bill-compounded-a-patients-appendicitis-pain) + +Anytime you go to a doc office or a hospital, you sign an agreement that essentially says "whatever the insurance company doesn't pay, I will". At that point it doesn't matter whether your maximum out of pocket is 10k or whatever. The hospital can charge pretty much whatever the fck they want (the *chargemasters* are KNOWN to be fictional & unquestionable). If they charge 10x the Medicare rate and the insurance company tells them to take 2x or fuck off, then guess who is on the hook for the rest? In my state ONE organization has already bought up nearly all the hospitals. So much for competition, and they can now charge however they want. + +Regular retirement typically offers Medicare protections. Early retirement serves up this ever-present risk of being on the hook for a surprise medical bill that can ruin early retirement plans (not to mention the difficulty of getting back into work after such an event, both in terms of gap and medical needs). + +Am posting this to vent my frustration at this BS, but also to see if there are any tips to mitigate such risks. I understand that people generally don't care about this until this happens to them. +Welcome to the Daily General Discussion thread of /r/EthTrader. + +*** + +Thread guidelines: + +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All [sub rules](https://www.reddit.com/r/ethtrader/about/rules/) apply here so please be familiar with them. + +*** + + Resources and other information: + +* Find the latest Altcoin Discussion thread in [this search listing](https://www.reddit.com/r/ethtrader/search?q=author%3Aautomoderator+title%3Aaltcoin&include_over_18=on&sort=new&t=all). + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! +Me: 31/F, fully employed, $3,145 net take home each month + +I have been slowly working my way out of credit card debt for the past three years. With a little over one year of payments left to go on my $20K debt consolidation loan, I can finally see the light at the end of the tunnel. + +With that, I have been closely monitoring where my money has been going this year. I am very good about tracking how my money is distributed (bills, rent, loan payments, etc) but have never been good about tracking what I have been spending my money on. In looking at my spending habits in January, February, March, April, and now May I have confirmed what I already knew in my head... I spend a shit ton of money eating out. In January, I spent $400 eating out on just breakfast (coffee) and lunches alone. In February, close to $500. Same goes for March and April. I was way down in May because I made a conscious effort to not eat out so that I could save up for a trip I took. It helped a lot. + +I took a look at my calendar and found that I miraculously have ONE lunch appointment on the calendar and no breakfast appointments in June. This means I have an opportunity to save money by eating breakfast at home and packing my lunch every day. + +I know this seems so simple but I haven't always been good about this. My work culture is such that people eat out a lot, I meet with people over coffee or lunches frequently, and so on. Some of that I get reimbursed but a lot of it is just eating out with coworkers. I live in a mid-sized city, so lunches cost anywhere from $10-18/lunch. Not terrible, but like many of you know, that adds up! + +I'm excited to challenge myself this month and hopefully save a butt load of money. This money could be better spent either in savings account (that's dismal right now) or paying off loans. + +Thanks for reading. I really feel like I am starting to make a turn in how I manage money and am so looking forward to financial freedom in the very near future. My June goal to not eat breakfast or lunches out will help give me the boost I need and hopefully, become a habit of mine. + +**EDIT (6/1, 8:40AM EST):** +Wow! I wasn't quite expecting that type of response! A couple of things I learned from you. + +* Scaling back or cutting the number of meals you eat out can make a big difference financially. +* It can also make a difference health-wise! +* It's important to be strategic about when you eat out, especially when it comes to work and colleagues. Even though you aren't going out and buying lunch, don't exclude yourself from group situations if possible. +* When meal planning, variety is key. Some of you mentioned getting bored with the meals you were making at home and as a result, would slip up and buy food. +* r/mealprepsunday was mentioned several times as a resource for planning. +* Really examine why you're in debt to begin with. And once you pay off that debt, consider investing the money you no longer are using to pay down debt. Your future self with thank you! +* More than anything, it's about having realistic goals and making sure you aren't setting yourself up for failure. + +I very much enjoyed reading all of your responses, tips, and well-wishes! It has given me great motivation for today - Day 1! For breakfast I had Cheerios at home. I packed myself a lunch and headed to work where I am now sipping a free hazelnut coffee. + +I look forward to catching up with you all at the end of the month. For my own purposes, I will be keeping a daily log of what I spend (including non-food related items), what I meal prep and eat, and what noticeable changes I see. I've never had a "blog" so to speak, but I might consider starting one so I can share all of this with you later this month. Any suggestions you have for sites would be most helpful! + +CHEERS! + +**EDIT (6/2, 9:03AM EST):** +For those of you that are interested in following along, you can find my notes [here](https://kbsaves.wordpress.com). It's a little scary to put myself out there like this, but I'm committed to the challenge *and* the accountability. Happy day 2 to those of you that are joining me this month! +I can’t be the only one. It’s the only thing I really hate about BTC right now. Texas, Miami, Ted Cruz, Lummis (who I really appreciate) seem to be using BTC as a political weapon. It’s making me think twice about talking with my Democrat friends and work colleagues about BTC. I can’t be the only one who feels this way. +No new news about it that I can find and it's been a steady drop since this morning. + +It's down to its May levels which was shortly after it became public via SPAC. The drop itself shouldn't be surprising at all, it's that it took so long after all the allegations came out, its founder leaving the company immediately, and the fact that it has nothing to show for itself. +The "price" of eth isn't changing as rapidly as many these posts seem to imply. When a large dip happens or a large rise happens very quickly, it's a result of a lack of liquidity in the market. If someone (or in reality many people), want to sell a large amount of ethereum they start to eat through the limit buy orders on the book. Once market sell orders overwhelm limit buy orders, the price starts to drop rapidly. The same thing happens in reverse. This is not "manipulation". That's not how markets work. It's a fundamental supply and demand equilibrium. It drops quickly or rises quickly due to a lack of liquidity at the current price. + +The most "manipulation" that can happen is that someone sells a lot of eth quickly to drop the price., hoping that others will panic sell, and that market makers will come in at the new low price so they can rebuy. People do this, but it's extremely risky if that's your actual strategy. What if you unload 20k eth, dropping the price a lot, and some other whale comes in while you're doing this and rebuys? Then the price is suddenly a lot higher than a good chunk of your sells. + +Relax. This is crypto, it's going to be volatile. +Hey all, + +As the title says, I'm curious about the legal and tax-wise implications of being a employee on a permanent contract for an employer in EU country A and working remotely from EU country B for a few weeks/months a year. What are the tax implications of this? I guess it's not illegal as that wouldn't make much sense but I assume it can complicate taxes quite a bit. + +Any links on the topic are appreciated as I want to dive deep into the topic. +Hi, + +I am 29 y.o. italian, currently living in Switzerland. During the last months I have been able to save most of my wage (in part because of corona, which removed most of my leisure expenses). Now I have around 45 thousand euros in savings, which I do no plan to use in the short and mid term. + +For this reason, I am considering to invest 30 thousand in VWCE (leaving the rest as an emergency fund). The idea would be to, after that, invest around 600€ (what I can save per month) in VWCE every month for a period of about 15 years. + +However, I come from an environment in which investment (outside of savings plans) is not common, none of my friends or relatives invest in the stock market. I would say that all of them distrust the stock markets and have a big fear of volatily (of losing money). For this reason, despite having read a lot of posts in this subreddit and similar subreddits claiming that investing in a well diversified index for a long period is a wise option, I feel a bit scared. + +This fear, in part, is driven by my friends and family, who show me their rather pessimistic view of the markets with arguments such as: the existence of a great euphoria in the financial markets that is not found in the real economy, which is driving stock prices too high, and that this dissonant euphoria will lead to a strong correction in the short-medium term. + +So, even if it may sound dumb, I would love to hear the opinion of more informed and rational people when it comes to finance, as a way of having a second point of view and reaffirming my decision.Hence, what do you think? Do you think I am taking a wise decision? Would you change anything regarding my plan? + +Thanks in advance. +Hi AusFinance... + +It's a lazy Saturday, currently reading through some books about Finances, while doing so in the process this statement just popped into my eyes. + +“If you’re not yet wealthy but want to be someday, never purchase a home that requires a mortgage that is more than twice your household’s total annual realized income.” ― **Thomas J. Stanley,** **The Millionaire Next Door: The Surprising Secrets of America's Wealthy** + +I just ludicrously laughed... + +My current income is only $40Kp.a gross. In order for me to purchase a $500K home I will need to fork out $420K on a deposit and a $80K mortgage. + +or if your a couple you need $320K deposit and $160K mortgage based if you earn't min 2 x $40Kp.a gross. + +So in theory if your wanting to purchase a $1M house you will need a min $600K deposit.... + +What are your thoughts ? + +https://preview.redd.it/jdlaloa9mrm71.png?width=970&format=png&auto=webp&s=9f87f508e079ede8babd9404ca572cf4694df025 +Welcome to the Daily General Discussion thread of /r/EthTrader. + +*** + +Thread guidelines: + +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All [sub rules](https://www.reddit.com/r/ethtrader/about/rules/) apply here so please be familiar with them. + +*** + + Resources and other information: + +* Find the latest Altcoin Discussion thread in [this search listing](https://www.reddit.com/r/ethtrader/search?q=author%3Aautomoderator+title%3Aaltcoin&include_over_18=on&sort=new&t=all). + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! +Now I’m going to be the person that references a post that references a post... but I thought this was worth sharing here. + +[This post from earlier](https://www.reddit.com/r/financialindependence/comments/a68t9p/anyone_going_faster_than_you_is_crazy_anyone/?st=JPPN34D7&sh=d5e671ac) talks about being lucky but don’t discredit the work people put in even if their payoff was “lucky”. + +And further, not to say someone is lucky because they received an inheritance... this is the point I want to touch on. There were many people who commented that they received X dollars from their parents but would give it all back to spend more time with them. + +You’re all on the FIRE track. Many of you probably hope to be able to leave your child(ren) with money when you pass to make their life easier. **But why wait until you pass away? With the sentiment of so many saying they’d give it back to spend more time with their parents.... why not give it while you’re still here to spend time with them?** + +My parents have decided to do this. They’ve been retired 6 years. Not early, but on time (at age 60 they retired). Each year they pay for a family trip for my brother and I and our families and them. They use the money to spend time and make memories with us NOW! They’ve contributed sizably towards our kids college funds NOW so our kids can see how education is important to grandma and grandpa. + +Both my brother and I paid off all our debt, which were student loans, (except mortgage) before this began so they didn’t bail us out, but they taught us fiscal responsibility. Once they saw we mastered that, they let us in on their plan. + +To give us our inheritance while they’re still alive. To see us enjoy it. They’ve given generous Christmas gifts to us the last 5 years. They’ve been able to see us use the money and get married to our spouses. They’ve been able to see us start families and spend a little more to upgrade to the stroller we absolutely wanted but was a little out of reach. They’ve seen us be able to travel or replace the furnace without it destroying our budget for the year. They aren’t giving us huge sums, but enough that it eases the burden of emergencies and allows us to enjoy some things we might not be able to at this stage in our lives. + +Furthermore, they are doing JUST fine with their investments and their pensions, that sharing with us isn’t preventing them from enjoying retirement. Heck this year alone they’ve gone on 9 different trips! + +You may think this post is spoiled and braggy. Or that I’m “lucky”. We were never rich growing up. They made between $30k (in the 1980s) to topping out at $90k when they retired. They saved, were frugal, and invested for 30 years. And now, they just want to share it with their kids. To see us enjoy it while they’re still here with us to enjoy it ❤️ + + +I recently moved to the US on a non-immigrant work VISA. Before moving, I was evaluating apartments to rent and found this agency (big agency) that had an apartment (\~$2000 rent) which seemed good enough for me. + + +I went through the application process on their official website. Paid around $600 in application fee + $100 application fee security deposit. The next morning I receive an email saying that the unit I applied for is actually \~$2700 rent. + + +I found that odd because every rent aggregator website also listed it for $2000. I told them the agency that is out of my budget and to refund the complete fee because I would not have applied in the first place had I known the rent was so high. The agency assured me that the refund checks will be mailed to an address I provided. + + +Fast forward to today- After numerous emails and calls, I haven't still received the money. They say they have mailed the checks via USPS but fail to provide a tracking number. It has been 2 months now and I am not sure if I can get my money back . + +What should I do? +Not sure if this really conforms to the guidelines, but it is about an investment firm gone belly up and maybe is a cautionary tale. Anyway ... + +That both Blankman-Fried's parents are Stanford University law professors has been a sorry part of this story, as had they known, they surely would have strenuously objected, right?. They weren't estranged, apparently, so it's too bad he didn't make them privy to his accounting books + +But there is a $16.4 million house in the Bahamas in his parents' name, where they have stayed when they visit, that could become a big deal in this case for them. They all insist the house was intended to be a company property, not theirs and that they never thought of it as theirs. Yet, there it is, in their name. I'm sure that will get looked at. + +His father visited the Bahamas at least monthly, according to reporting from the NYT. You have to wonder how this remained hidden. + +And what about the CFO and the general counsel? His general counsel used to work with Gary Gensler and is no light weight. How could you not wonder about the books? Did he? Didn't he wonder where the money came from for Alameda? How can he be a general counsel at FTX and not catch a clue of what the bankruptcy court saw in literally five minutes -- literally no books in any sense of the word? I'm going to guess this was the least busy general counsel in corporate history - never got a phone call , never got a question, never attended a meeting? + +According to other reporting, (on Yahoo) his parents have been with him in the Bahamas for the last month, and the Times says: + +"Mr. Bankman and Ms. Fried are part of a small group offering Mr. Bankman-Fried legal advice, according to a person familiar with the matter. The couple has also turned to the Stanford faculty for support: David Mills, a criminal law professor at Stanford and a close family friend, is part of Mr. Bankman-Fried’s legal team. Mr. Bankman has his own lawyer, the former federal prosecutor [Ronald G. White](https://wmhlaw.com/2022/10/11/ronald-g-white-joins-wmh-as-partner-in-white-collar-defense-and-investigations-practice/). " + +Have to believe he hasn't been following their advice, right? They can't have advised him to get out there and talk nonstop for a month (?) + +[Sam Bankman-Fried’s Parents Under Scrutiny in FTX Collapse - The New York Times (nytimes.com)](https://www.nytimes.com/2022/12/12/technology/sbf-parents-ftx-collapse.html) + +EDIT- +Holy cow, this is getting really intriguing. I haven’t delved into this that deeply so I guess I am missing a lot. I apologize for the paywall. This story from November says that FTX bought a Washington State bank, called Farmington State Bank, one of the smallest banks in the country. + + + +From the article: + +“It’s unclear how FTX was allowed to buy a stake in a U.S.-licensed bank, which would need to be approved by federal regulators. Banking veterans say it’s hard to believe that regulators would have knowingly allowed FTX to gain control of a U.S. bank. + +“The fact that an offshore hedge fund that was basically a crypto firm was buying a stake in a tiny bank for multiples of its stated book value should have raised massive red flags for the F.D.I.C., state regulators and the Federal Reserve,” said Camden Fine, a bank industry consultant who used to head the Independent Community Bankers of America. “It’s just astonishing that all of this got approved.” + +https://www.nytimes.com/2022/11/23/business/ftx-cryptocurrency-bank.html + +The more resources you have, the farther you can run amok. Personally, when I run amok, it is limited to cocktail with friends in my own back yard and only on weekends. These guys? They run amok on all of us and our institutions like a runaway train +Title says it all. Assume all retirement options are already maxed out. Don't plan on buying a home for at least 2 years. + +&#x200B; + +edit: No debt and already have >6 months expenses saved. The source of money is generated from the business i own rather than an inheritance. +TL;DR This website takes your money and mails you blank forms that you could have obtained for free, and charges very high fees for this “service”. It leads you to believe you are paying a fee to receive a document directly (such as a passport or birth certificate). Warn your friends and family not to use this website! + +I’m ashamed to admit that I fell for a scam yesterday. My first instinct was to keep it a secret due to embarassment, but I’m sharing this in the hopes that it can help prevent other people from falling for this scam. + +In the midst of all the pandemic confusion, some government services have been restricted or shut down. I recently realized my passport expires on 4/24 of this year. However, the post office is not currently doing in person passport renewals. I was curious to see if there was a way to renew passports online. When I googled “Online passport renewal” this website, govfilingsonline.org was the first result. I was taken directly from google to the “Online passport renewal” website. I’d like to think that if I had gone to the main page first, I would have noticed further down the page where they mention they are a private company not affiliated with the government. In my opinion, this is only here to provide them plausible deniability, and they are hoping most people won’t notice this. + +Now what I THOUGHT this website was, was an official government website that allowed for online passport renewal. The website is well designed and didn’t set off any “scam” alarm bells for me. It leads the user to believe that you have to pay $130 to the website, and you will have your renewed passport mailed to the address you provide. + +What this website ACTUALLY does is mail you blank passport renewal forms, which you can obtain for free from this website: https://travel.state.gov/content/travel/en/passports/have-passport/renew.html + +You then have to fill out these forms, and send an ADDITIONAL $110 to the government for the passport renewal fee, as this website is unaffiliated with the government in any way, and pockets the $130 you send them. + +This website has hidden in the terms and conditions that it processes orders immediately, and so will not offer cancellations or refunds under any circumstances. It also has small text next to what looks like a checkbox for standard agreement to terms that says “The $130 does not cover the $110 fee” or something to that effect, which I actually read and somehow didn’t process before I hit “submit”. Some part of my brain was like “What does that mean? Eh, that must be for special cases, there’s no way this website just takes $130 and provides nothing.” and I clicked before that thought had completely sunk in. I instantly regretted it. I realized what the scam was when I got my confirmation email that basically says my blank forms are on the way, which I will then need to fill out and mail back to the government with my $110 passport renewal fee, old passport, and passport photo. + +Obviously I am kicking myself, and I’m sure anyone reading this must wonder how I missed so many red flags, and I must be an idiot. I’ll admit, looking back at this, I have no idea how I fell for this. However, if I can fall for it, it’s possible that one of your friends or family could as well, so PLEASE make sure everyone you care about is aware of this website and knows not to use it for any services. (They also pull the same scam for people trying to obtain their birth certificate apparently.) + +I’ve read that people who mentioned submitting a charge dispute received the following response from this company: +“We win 99.5% of credit card disputes we receive. After we beat a dispute, we charge $100 (as outlined in the Terms) to recover damages caused by the customer's dispute. If the $100 debt does not get paid, we report it to all 3 credit bureaus to negatively affect the disputers credit. If the individual attempts to dispute the credit reported debt, we also rebut that inquiry to ensure that the customer either pays the debt, or the credit remains affected.” + +So I honestly don’t know where to go from here. I may call my bank and just see what they think, but I kind of want this to just be over. I don’t want this company causing further trouble for me and impacting my credit for $130, and I don’t want to end up having to pay them $230 instead of just the $130 I have most likely already lost. Even though this company obviously knows the scam they are pulling on people, they seem to have their bases covered with various small print disclaimers littered around the website. + +I think I have to chalk this up to a $130 lesson learned. I figure if I share what I’ve learned with other people, then the cost per person of this lesson goes down the more people I share it with. + +The takeaways here: + +* Just because it’s the top result on Google DOES NOT MEAN it is a legitimate resource, or that it is what you are actually searching for. +* Before giving any money to any website at all, just give the name a quick search. I really wish I had done this before giving this site money, because there are plenty of results of other people complaining of getting scammed exactly like I did. I’m not alone in having fallen for this companies’ misleading scam. +* Scammers are getting more sophisticated. A website can have no grammar mistakes, have a professional clean design, and still exist only to steal your money. Don’t trust a site because it doesn’t “look like a scam” that isn’t enough! Why this is a lesson I had to learn the hard way, I don’t know. I’m a professional web developer, I can make a professional looking website by myself in a few hours, and if I had no morals or ethics I could set up a similar scam myself. +* IT WASN’T A .GOV WEBSITE! WHY DID I NOT CONSIDER THIS?! Make sure what you’re doing just generally makes sense. For example, if you think you’re on a government website, is it a .gov domain? +* Don’t rush, take things slow, make sure you read everything that you are agreeing to, even if it’s boring and you think it’s the same standard stuff you’ve seen a million times. + +Again, I realize this looks like I just ignored a million red flags and this makes me look like a complete idiot. Trust me, I realize this and I definitely feel like an idiot, but I want to help people not fall prey to this scam, and make sure they can protect people they care about such as parents, grandparents, other people who may be more likely to fall prey to such a scam. I don’t have any excuses here really, I’ve had a lot on my mind, I wasn’t focused on the task at hand, it was one chore of many that I just wanted to put behind me and I rushed through it thinking this was a legit way to renew my passport. Ironically this is now a much bigger deal than it would have been if I had just taken my time and made sure I understood what I was doing. + +Links to sites where other people complain of falling for the exact same scam in the exact same way that I did, just so you can see that I’m not some exceptionally stupid outlier: + +https://www.bbb.org/us/ca/sausalito/profile/legal-document-help/govfilingsonline-1116-898909/complaints + +https://www.trustpilot.com/review/govfilingsonline.org + +https://no-scam.com/review/govfilingsonline-org-4480/ + +https://ripoffscams.com/reports-filed/govfilingsonline-org/upland/https-www-govfilingsonline-org-this-is-an-internet-based-company-to-help-you-file-an-ein-number-they-take-your-money-whether-you-want-their-business-or-not-sausalito-ca-california/75419/ + +https://reportscam.com/govfilingsonlineorg_1 + +Edit: +I've learned that the same guy that runs govfilingsonline.org also runs the following sites: + +* FastBirthCertificates.com + +* quicktaxid.com + +So please avoid those sites as well. He's running similar scams using those domains. + +BBB complaints for FastBirthCertificates.com: +https://www.bbb.org/us/ca/sausalito/profile/recorded-information/fastbirthcertificatescom-1116-538915/complaints +I'm curious to hear from the many users who have yet to DRS a single share. Obviously everyone is welcome here, and we are all free to invest nothing or invest it all. + +But I'd love to hear from people who haven't DRS'd yet, and if there is anything that would make you consider DRS'ing just one lone share. +💡It was the FBI and not the SEC that was investigating Jordan Belfort for Securities fraud. There's a scene where Jordan was on his boat and he tells the agent that the SEC has already looked into him. The agent explained that the SEC is a civil regulatory agency and that it's the FBI that pursues criminal activities. + +Shouldn't individual investors then be reporting alleged securities fraud and other crimes directly to the FBI to investigate? + +Heres some info: +https://www.crimemuseum.org/crime-library/white-collar-crime/jordan-belfort/ + +Edit: Woah this was getting downvoted heavily when it was a new post, but not anymore! Thanks for the likes and health discussion Apes. + +A few extra points while I have your attention: + +DRS your shares. + +Sort by "rising", not just "top" - a lot of posts are being suppressed by downvotes. + +This sub used to be more open to educating one another. I think learning about the market reduces the barriers to entry for retail investors and empowers them. I learned so much through Superstonk and the subs before it. I mean come on! We had our own YouTube channel with amazing AMAs. + +We should be open to honest conversations about the market regardless how each individual investor chooses to invest. We should not be lambasting others for their thoughtful questions and right to exercise in a free market, we can provide them with information that can help with their decision and the rationale as to why it may be incorrect. Don't target the individual, target the (potential) problem.Yes this means about options trading too. + +Ape don't fight ape. Remember you were new once too. Always try to help people out when they come with good intentions. Plus if apes are too busy arguing with one another then nobody is looking at HF and MSM to see what they're up to - don't let them win. + +Jordan Belfort went to a cushy white collar prison. Let's make sure the HF and financial terrorists of the world don't get off that easy and get what they deserve for their crimes against humanity. + +Seems like apes have already identified the FBI as a source to report financial crimes, so why isn't it as common as speaking about the SEC on here? + +https://www.reddit.com/r/Superstonk/comments/pdt9x9/the_fbi_has_joined_the_chat_did_you_know_that_the/?utm_medium=android_app&utm_source=share. Thanks for the reminder, u/derlocker +BogTools, $BOG, you've probably heard about for a while. But now they've proven themselves launching their beta for Pancakeswap Limit Orders. + +[https://beta.bogged.finance/](https://beta.bogged.finance/) + +Now that it's been confirmed as a legitimate project, this is HUGELY undervalued. + +**What is a limit order? :** Limit orders are a function allows you to set a price where your buy or sell order would automatically go through if the coin hits that price. You don't have to sit there and watch all day & night. This is an essential feature in such a volatile market -- and is typically only seen on Centralised Exchanges like Binanace. + +Additionally: The Bogged ARG with $5k in crypto prizes is launching in 10 days which will bring huge attention to them in the BSC space. + +Furthermore, they plan to roll out charts for all BSC coins, along with all the tools you see others charging for -- for free! Everyone will be using bogtools in their day to day trading on BSC very shortly. + +The full release is coming on April 2nd, and is rumored to include those charts along with huge UI updates they've been teasing. I'm not saying that BOG is the next $CAKE, but it's starting to look like it'll be sitting up there as a BSC utility project everyone uses. +Welcome to the Daily General Discussion thread of /r/EthTrader. + +Find the latest Daily Altcoin Discussion thread by selecting the top result on this [search page](https://www.reddit.com/r/ethtrader/search?q=Daily+Altcoin+Discussion&include_over_18=on&restrict_sr=on&t=all&sort=new). + +*** + +The thread guidelines are as follows: + +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All sub rules apply here so please review our **[rules page](https://www.reddit.com/r/ethtrader/about/rules/)** to become familiar with them. The rules page is also linked in the announcement bar above. +- If the top page becomes overloaded with memes, all but the top two voted may be removed. If we need to remove a bunch of memes from the top page, post memes in this thread first and upvote the best so the mods know which ones to keep + +*** + + Resources and other information: + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! + +Welcome to the Daily General Discussion thread of /r/EthTrader. + +*** + +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! + +Looking for motivation for striving for fatfire vs fire earlier on. I understand when entrepreneurs hit it big and sell their business, they rocket into fatfire territory immediately. For others who are grinding their way there with 200-300k income annually, what are the main things you want from fatfire that you couldn't get if you chose to normal fire? + +I don't have many expensive tastes (no interest in alcohol, cars, etc.), but I don't hate my job either. The main luxury I can think of is fancier travel but I'm not sure if it would be worth working longer for it. Put another way, after I hit a normal FIRE target, there doesn't seem to be much to motivate going beyond aside from watching numbers go up or even more financial security. +I have seen some great advice on tax strategies on this sub! But I didn't know if somebody created a sub specifically for this topic. + +OR if reddit is not the best place to discuss, where would you recommend? + +I really enjoy reading about Tax Strategies. I am in the USA and it is interesting what high earners have done. + + +EDIT: After seeing that there is no good sub by your replies... I created a sub: r/AdvancedTaxStrategies +***YOU – have enormous power and the potential for significant influence.*** If you participate, you could become a counterweight to Wall Street’s biggest banks and financial firms’ lobbyists. + +***Here’s a quick overview of the rulemaking process:*** the SEC is required to invite the public to submit letters with comments on their rule proposals.  The SEC is then required to consider each comment letter they receive.  The SEC usually receives lots of letters from Wall Street’s army of lobbyists, lawyers, and political allies to dilute, limit, or kill the rules.  Their goals are to maximize their profits—profits that come from the pockets of everyday investors like yourself!  ***The SEC rarely hears from the individual retail investors*** who invest in the stock markets. + +Before GME/Superstonk, the only people commenting on these rule proposals were industry insiders. It's easy to get things in your favor when you're the only one who has a voice. + +A Former Branch Chief of the SEC, [Lisa Braganca](https://youtube.com/clip/UgkxJMq7z2o9s162gYM7-S8GD2sBqREEearI) told us they got zero from retail before, and now they're seeing THOUSANDS of comments! + +[Dennis Kelleher told us:](https://www.reddit.com/r/Superstonk/comments/u8y8cc/ama_with_dennis_kelleher_cofounder_president_and/?utm_source=share&utm_medium=web2x&context=3) “It’s important to recognize that there is enormous power in the community that's been created around investing in the markets and they’ve demonstrated their power in the markets as we’ve seen over the last year. But I do think it’s important to recognize that to be really fundamentally effective in the markets, they also have to be engaged in the policy making process.” + +**They recently re-opened comments for certain rule proposals, due to a GliTcH where some comments didn't get posted after submitting. The majority of affected comments were from August 2022, but somehow it could have occurred as early as June 2021.** + +press release: [Reopening Comments](https://www.sec.gov/rules/proposed/2022/33-11117.pdf) + +[ ](https://preview.redd.it/4rx85fx5uet91.png?width=641&format=png&auto=webp&s=dcc096f2ee2187ce6a14e13f98891ebd17d1304a) + +**Did you leave a comment already? Check to make sure it’s posted.** [LINK TO RULE PROPOSALS](https://www.sec.gov/rules/proposed.shtml) + +Haven’t left one yet? **This is the perfect opportunity to do so. DOUBLE CHECK TO MAKE SURE YOUR COMMENT GETS POSTED AFTER YOU LEAVE IT!** + +[Better Markets](https://bettermarkets.org/get-involved/), [DLauer](https://www.urvin.finance/advocacy-issues/comment-letters) & the [SEC](https://www.sec.gov/regulatory-actions/how-to-submit-comments) outline how to do this. Here's another great guide [from u/Goldielips](https://www.reddit.com/r/Superstonk/comments/t31b1j/guide_for_letting_your_voice_be_heard_where_its/?utm_source=share&utm_medium=web2x&context=3). + +# Submitting a Comment Letter—Some Key Points to Remember + +# Make sure you include the File # for the rule. + +# Read the rule over. + +# Your comment should include if you agree or disagree, and why. Do you agree with part of it and disagree with another part? Tell them why. + +# Share any relevant data, research, or reports you think the agency should consider, and attach relevant documents. + +All comments will be posted publicly. You can make anonymous comments but keep in mind they publish your email address. + +&#x200B; + +**Some of the rule proposals people may be interested in commenting on:** + +# File # S7-32-10 - Prohibition Against Fraud, Manipulation, or Deception in Connection with Security-Based Swaps; Prohibition against Undue Influence over Chief Compliance Officers; Position Reporting of Large Security-Based Swap Positions. [https://www.sec.gov/rules/proposed/2021/34-93784.pdf](https://www.sec.gov/rules/proposed/2021/34-93784.pdf) + +https://preview.redd.it/5nupgktnuet91.png?width=664&format=png&auto=webp&s=9b101f706a41b130c82092f4b3c96f83a184e57a + +https://preview.redd.it/xz32w4oouet91.png?width=665&format=png&auto=webp&s=082f1cdb3fc5aa3ab94554e2928c0f992e9f0a70 + +[Current Comments on this proposal](https://www.sec.gov/comments/s7-32-10/s73210.htm) + +This is about making the swaps positions public! Such transparency could provide relevant parties with advance notice that certain market participants are building large positions and could facilitate risk management and inform pricing of security-based swaps. + +[POST about this proposal made by u/WhatCanIMakeToday](https://www.reddit.com/r/Superstonk/comments/y2jl0k/comment_to_the_sec_supporting_prohibition_against/?utm_source=share&utm_medium=web2x&context=3) + +[u/WhatCanIMakeToday's comment about this rule](https://www.sec.gov/comments/s7-32-10/s73210-310801.htm) + +&#x200B; + +# File # S7-18-21 - Reporting of Securities Loans [https://www.sec.gov/rules/proposed/2021/34-93613.pdf](https://www.sec.gov/rules/proposed/2021/34-93613.pdf) + +https://preview.redd.it/o62sn808vet91.png?width=690&format=png&auto=webp&s=a15d99ca7bf3e52c634b693b04319dc317851777 + +[Current comments for this proposal](https://www.sec.gov/comments/s7-18-21/s71821.htm) + +This is for more transparency when it comes to lending agreements for shares that short sellers borrow. As of right now, there's zero transparency around securities lending. + +[Comment Letter from Better Markets](https://bettermarkets.org/wp-content/uploads/2022/04/Better_Markets_Comment_Letter_Reporting_of_Securities_Loans.pdf) + +[Susan Trimbath's comment letter](https://www.sec.gov/comments/s7-18-21/s71821-9418892-263349.pdf) + +Comment letters from people on the sub: + +[u/kibblepigeon](https://www.reddit.com/r/Superstonk/comments/xytsww/my_letter_in_response_to_secs_file_no_s71821_in/?utm_source=share&utm_medium=web2x&context=3) + +[u/Mirkrin](https://www.reddit.com/r/Superstonk/comments/xzwll0/my_submission_to_the_sec_on_rule_s71821/?utm_source=share&utm_medium=web2x&context=3) + +[u/DBreezy867](https://www.reddit.com/r/Superstonk/comments/xz9v2o/s71821_rule_10c1_comment_letter_written_and_sent/?utm_source=share&utm_medium=web2x&context=3) + +[post](https://www.reddit.com/r/Superstonk/comments/y0tefd/comment_to_the_sec_on_reporting_of_securities/?utm_source=share&utm_medium=web2x&context=3) by u/WhatCanIMakeToday + +# File # S7-08-22 - Short Position and Short Activity Reporting by Institutional Investment Managers [https://www.sec.gov/rules/proposed/2022/34-94313.pdf](https://www.sec.gov/rules/proposed/2022/34-94313.pdf) + +https://preview.redd.it/pigapjpdvet91.png?width=747&format=png&auto=webp&s=ed10d144545c99ef2d9117aaa326789ff4dd081a + +[All current comments for this proposal](https://www.sec.gov/comments/s7-08-22/s70822.htm) + +These would require Market participants to collect and submit certain short sale-related data to the SEC on a monthly basis. The Commission then would make aggregate data about large short positions, including daily short sale activity data, **available to the public** for each individual security. + +https://preview.redd.it/q9k9mut4ift91.png?width=730&format=png&auto=webp&s=a207bc4b02c93a30cf5c2a2c8acfb555a069d9b2 + +Official 13f-2 proposal: [https://www.sec.gov/rules/proposed/2022/34-94313.pdf](https://www.sec.gov/rules/proposed/2022/34-94313.pdf) + +SEC Reg Sho & CAT Fact sheet: [https://www.sec.gov/files/34-94314-fact-sheet.pdf](https://www.sec.gov/files/34-94314-fact-sheet.pdf) + +IF YOU CARE ABOUT SHORT POSITIONS BEING REPORTED BY INSTITUTIONS, CONSIDER COMMENTING ON THE 13f-2 RULE. + +[Comment Letter made by Dave Lauer](https://www.reddit.com/r/Superstonk/comments/y3xp69/comment_letter_for_sec_short_disclosure_proposal/?utm_source=share&utm_medium=web2x&context=3) \- check this out for some ideas about what could be improved. + +One thing missing from this rule is disclosing short derivatives exposure! Dennis Kelleher writes about that in his [comment letter.](https://www.sec.gov/comments/s7-08-22/s70822-20145033-309600.pdf) + +[Post](https://www.reddit.com/r/Superstonk/comments/xzzts4/comment_to_the_sec_on_short_position_and_short/?utm_source=share&utm_medium=web2x&context=3) by [u/WhatCanIMakeToday](https://www.reddit.com/u/WhatCanIMakeToday/) + +[Comment letter by u/Conscious\_Student\_37](https://www.reddit.com/r/Superstonk/comments/xyq09h/my_smoothbrain_comment_on_rule_10c1_reporting_for/?utm_source=share&utm_medium=web2x&context=3) + +[Comment letter by u?WhatCanIMakeToday](https://www.sec.gov/comments/s7-08-22/s70822-311187.htm) + +&#x200B; + +If I missed a good template/comment letter/post(or anything else), link it here and I'll add it to this post! I wanted to get this out ASAP since we have a limited time to check comments & add more. +## 47%, Gary Gensler, Antitrust, and Citadel +Gary Gensler talked about a lot of stuff at the hearing earlier this week. The representatives generally focused on a lot of garbage, and they have justifiably taken a lot of shit from this community for their piss poor understanding of the things they are supposed to oversee. Lost in the gamification discussion was Gary Gensler talking about market concentration and Citadel how 47% of all retail order flow is routed through Citadel. This is a serious issue, and it is one that can be resolved through one of the Commissions established by Congress, for example: the SEC, but it can also be referred to the Department of Justice, Antitrust Division or the Federal Trade Commission. + +### Why This Guy? +Before I go any further, I used to be an employee of the one of these last two federal agencies, and I happen to have a bit of expertise in the subject matter I am about to talk about. Other things I might be blowing smoke out my ass, but I’m trying my best to educate, inform, or otherwise support my fellow apes. I am willing to provide my resume and identity to the mods, but I prefer to remain otherwise anonymous. + +### An Extremely Brief History of Antitrust in the US +There are 3 main laws that govern Antitrust Law in the US. They are the Sherman Antitrust Act(1890), the Federal Trade Commission Act(1914), and the Clayton Antitrust Act(1914). + +The Sherman Antitrust Act outlaws restraints of trade or commerce, and declares people who monopolize or attempt to monopolize or conspire to monopolize in violation of a felony. The first part is a civil violation and the second part is a criminal violation involving jail time and financial penalties, and it is per se illegal, or by even agreeing to be part of a conspiracy to restrict a market a person is in violation of a felony. There’s a lot of nuance and practical considerations to how judges and juries find in these cases. One of the first antitrust cases was brought against a labor organizer. It is now considered to be a vast misapplication of the law. + +The Department of Justice was deemed to be insufficient to deal with fast moving technology in the early 20th Century, and so Congress passed the FTC Act to get expert engineers and scientists into an agency with lawyers—to be better able to enforce the law. The Supreme Court has ruled that every violation of the FTC Act is also a violation of the Sherman Antitrust Act. The FTC can unilaterally impose monetary penalties, where the DoJ has to go through the courts for everything. The FTC still needs to bring criminal prosecutions to the federal courts. + +The Sherman Antitrust Act had the unintended consequence of causing companies to merge in order to avoid prosecution. The Clayton Act barred several items: price discrimination between purchasers if such discrimination lessens competition, sales on the condition that the buyer or lessee not deal with the competition of the seller or lessor or requiring the buyer to purchase another product on the condition that this not lessen competition, mergers and acquisitions that substantially lessen competition, and barring a person from being a director on the board of two or more competing firms. The key here is “lessen competition,” and how that has been defined in the modern era. + +We can more or less ignore the FTC Act, and the Clayton Act matters, but only tangentially. It is however a significant tangent. + +Enter Robert Bork. +[Get a Load of This Mug](https://upload.wikimedia.org/wikipedia/commons/d/d8/Robert_Bork.jpg) +That’s right. That Robert Bork. Nixon’s Solicitor General, later federal judge, and then blocked from being on the Supreme Court due to being too extreme. He argued that the goal of antitrust law should be to protect consumers, because consumers are inherently foolish. So the consumer harm standard of antitrust enforcement was adopted. This implies that the harm to competition, the competitive process, can be observed through the effect on prices that consumers experience. This is still how antitrust law is enforced today. + +### Great, But How Does That Do Anything For Us? + +In the short run, it probably does nothing. Antitrust matters move at the pace of the commissions and the courts, but buy and HODL, amirite? + +This is a little heavy reading on how Antitrust cases are evaluated. +https://www.justice.gov/atr/horizontal-merger-guidelines-0 + +Important notes not contained here: in order to prosecute a case for monopoly in order to break up the company there needs to be market power and abuse of dominance. Typically, the courts are skeptical of market power when a company controls less than 60% of a market. Control of market share is not enough. Due to the consumer harm standard, in order to prosecute monopoly or abuse of dominance harm to consumers must also be shown. + +But how does this relate? Well… In comes market concentration, a popular proxy for how concentrated markets are already. The Herfindahl-Hirschman Index (HHI) is a measure of market concentration. It is calculated by squaring the market share of the market participants and summing them. A market with an HHI of 1800 or greater is considered to be highly concentrated. Using that 47% figure that Citadel touts-and no one else’s share, the HHI for retail routed orders is 47^2 = 2209. That market is already there without the other 53% of the market included. This only matters in the event of merger and acquisition, however. There’s another key point here: Payment for Order Flow. + +By paying for order flow, Citadel may be changing the market definition in a couple of ways. The first is, they are the consumer of retail orders from brokers, and they are a dominant player in the buying side of this market. They might be foreclosing other wholesalers out of this market and exerting **monopsony power** or undue influence over the market through purchasing. The other way they could be messing up is through purchasing all of any given broker’s order flow. By doing this, Citadel has given consumers in the market no choice of order routing, and they are monopolizing broker routings. There is huge potential for profit taking internally here, because the price that consumers see is rounded to 2 decimal places, but as we all learned with the 32 bit integer issue and Berkshire-Hathaway, the price is actually calculated out to 4 decimals. Citadel could buy up your order flow at the 4 decimal price, match against the other end of a trade, and take 2 decimals of profit on every order. + +On top of that, Citadel knew about these anti-competitive issues associated with payment for order flow as early as 2004. They specifically commented against them. https://www.sec.gov/rules/concept/s70704/citadel04132004.pdf There is no way for them to say they did not know about the harm they were causing and continue to cause as they caused it and continue to cause it. + +Any of the above could be construed as an abuse of a dominant position, harm to consumers, if not monopoly or monopsony. This could result in $100M fines per day that these could be demonstrated. If Ken Griffin is implicated through documentation or other evidence personally, he could face a fine of $1M and up to 10 years in jail. + +Citadel is likely irrevocably fucked, whether or not they survive the MOASS, whenever it comes. + +Edit: TL;dr: A mentor told me I should try to be able to explain it to a 5 year old. + +By paying brokers for your order, my order everyone's order to go through them, Citadel has been doing something that isn't fair and is against the law. They knew it was against the law and unfair. Ken Griffin could face jail time if it can be proven that he knew about some of the problems they were causing. +I’m not sure if any of this is legal, but Soft Bank seems to know how to squeeze every juice drop from the orange. They know how to make money on all angles of the deal. If this doesn’t make you long on Soft Bank, I don’t know what will. They are true hustlers. +A $10,000 CAD investment in Suncor today will get you 373 shares. EPS estimates are $0.47, $0.81, $0.87 are $0.71 for next 4 quarters (respectively), so my investment is generating $175.31, $302.13 $324.51, $264.83 quarterly cash flows (totals $1,066.78) in the next year. $10,000/$1,066.78 = PE Ratio of 9.37. For comparisons sake PE Ratio of a bank account right now is 200 ($10,000/$50 interest earned in next year). Is there a flaw in my math/reasoning for why SU is a good investment? +Mid 30's. I work for a FAANG as a non-SWE and based in Ireland. TC is about 200K USD. My partner is a SWE, makes less than I do but is not prioritizing career at the moment. We have a baby on the way and planning one more. NW is about 1.2M USD. + +I moved to tech a few years ago from an "unprofitable" sector and got promoted quickly. I previously lived in multiple European and Asian countries, but never in the US. My employer has many opportunities to move to the US, even without changing teams. TC for the same role is about 50% higher (so around 300K USD). Locations are mostly HCOL and high taxes. + +This sub is mostly US-centric and people are going on about how much easier it is to become wealthy in the US. In my case, obviously the higher TC is an advantage, but probably living costs will be higher too (healthcare, education and possibly housing). US also has less paid time off. In Ireland we get more days off as well as parental leave, maternity benefits, etc. + + Generally, tax benefits are almost non-existent, except: + +\* Exempt pension deposits (up to 20% of earnings) + +\* Because I'm not Irish, I don't pay capital gains tax on financial assets (including stocks), as long as I don't remit the proceeds to Ireland. I'm effectively exempt from capital gains tax. + +&#x200B; + +I'm curious to hear from members who moved from EU to the US. Has the increased TC increased your net earnings? What other benefits exist in the US that would accelerate my path to fatFIRE? +# Circuits of Value and Emblem Vault 🔒 + + +Emblem Vault is the first product of the **Circuits of Value ($COVAL)** ecosystem, it allows the wrapping of **multiple digital assets** (e.g. digital files, NFTs, crypto, games) inside a **single NFT** – enabling the creation of an **entire blockchain-agnostic wallet inside one tradeable token.** + +**Some use cases of this NFT primitive include:** + +Cross-chain Trading on Ethereum – This allows tokens from any blockchain to be traded for any other token using the Ethereum network. + +* **Atomic Swaps on Ethereum –** Trade multiple tokens from any blockchain in one transaction (think of gas savings). +* **NFT Trading** – Trade any or multiple NFT’s for any other NFT or multiple NFT’s. +* **Portable Liquidity Pools –** Hold multiple liquidity pools inside a token (e.g. Balancer, Uniswap) +* **Tradeable Portfolios** – Trade entire portfolios in one transaction (i.e. ETF’s) +* **Create Hedged Tokens** – Combine tokens inside an Emblem Vault to create a composite token. +* **Digital Entertainment** – Video, games, and music inside an NFT (anti-piracy). +* **Tokenization** – Tokenise real-world assets for supply tracking or trading. +* **Blind Transactions** – Send tokens to a Vault and hide contents within with a password, the vault can be traded many times but transactions will be hidden on-chain unless you have a password. +* **Store Encrypted Data** – Stored Value (e.g. gift cards), software keys, coupon code. + +[How to use EmblemVault](https://web.archive.org/web/20210318060431/https://web.archive.org/web/20210227214307/https://desktopcommando.medium.com/how-to-use-emblemvault-14ba241ca42a) + +**What are the Tokenomics?** + +**$COVAL is the utility token used for the purchase of products and services offered by the Circuits of Value ecosystem, it can be used for Emblem Vaults and future products. $FUEL is a utility token used within the Emblem Vault Platform for discounts.** + +*The total supply of $COVAL is 2B and the circulating supply is around 1.2B.* + +# Staking Plans + +They have some interesting plans lined up for the $COVAL token, one of which I can describe here. + +Imagine if you will an ERC20 token that allows you to deposit a token, and earn yield. When you spend your earned token, the equivalent of your deposited token will be burnt. You can later withdraw the remaining deposited token, keep your yield, but your balance of the earned token will be reduced by your withdrawal amount. + +This system will allow staking, and yield without withdrawing your earnings, so gasless on mainnet. Shadowstaking is another term. + +# Why should I care about Emblem Vault? + +The entire cryptocurrency space has taken the concept of “money” from a very small set of possible currencies all controlled by centralized governments, to an infinite set of possible ways to exchange value. + +The crypto space opens up endless possibilities for party-to-party exchange, almost like we have gone back in some ways to the days of bartering, where you could trade bananas for chickens and the act of building a barn for a horse (I might have been watching Little House on the Prairie recently …) + +But the problem with the barter space and the problem with the crypto space are the same: + +how do 2 parties quickly and efficiently negotiate how many bananas are worth a chicken, or how many hours of barn work are worth a horse, or how many chickens PLUS hours of barn work are worth a horse? + +And in the crypto space, how can I give someone a “composite” token, meaning that I use some of my BTC and some of my ETH and some of my Dai and some of my Tron in a single transaction? + +Currently, you CAN’T. In the crypto space, there is NO elegant way to exchange coins and/or tokens across multiple blockchains in a single transaction. Instead, one has to transfer BTC and then transfer eth and then transfer dai and then transfer Tron (and do that to 4 different addresses, and let's not even talk about fees). + +What the crypto space is lacking is a simple way to combine multiple coins and/tokens and exchange them as a single “store of value”. + +Enter $COVAL (Circuits of Value). Emblem Vault is a product of the Coval sandbox, born of the Coval ideals that crypto should be universal; fully exchangeable across blockchains, coins, tokens, countries, everything. + +Using Emblem Vault, anyone, anywhere, can combine currencies across different blockchains into a single “store of value” and then transact that “store of value” WITHOUT EVER MOVING THE INDIVIDUAL COINS/TOKENS until they are claimed and are ready to be spent at any moment. + +# The process looks like this: + +**Create a vault** + +**Put shit into it.** This can be any combination of BTC, ether, any ERC20 token, AND any ERC721 token. + +* **Send that whole combination of stuff as a single tx to anyone you want and however many times you want.** +* When the time is right, **the current owner “claims” a vault**, receiving the private keys for all included coin/token types, thus being able to import them into ANY crypto wallet and spend them. + +Try it for yourself. Go visit [emblem.finance](https://web.archive.org/web/20210318060431/https://emblem.finance/) and create one. + +# Quick overview: + +# Current price: $0.04 + +Market Cap: $49 Million + +[Buy on UniSwap](https://web.archive.org/web/20210318060431/https://info.uniswap.org/token/0x3d658390460295fb963f54dc0899cfb1c30776df) + +[Recent AMA](https://web.archive.org/web/20210318060431/https://hillbillydeluxe2020.medium.com/ama-circuits-of-value-and-emblem-vaults-founder-shannon-code-february-2021-cd4abb40040c)| [Website](https://web.archive.org/web/20210318060431/https://circuitsofvalue.com/) | [Twitter](https://web.archive.org/web/20210318060431/https://twitter.com/CircuitsOfValue) | [Ask the Devs](https://web.archive.org/web/20210318060431/https://t.me/Coval_Chat) +So my father wants me to pay rent, he was thinking of renting his whole house out and a letting agency said he could get £750 pcm for it. Now he has changed his mind and staying at the house. He wants to charge me £500 but I think that is way too much, but I am not sure on a reasonable amount. I use a bedroom and a small room as an office and the kitchen and bathroom we share. What do you think is a reasonable amount? thanks