diff --git "a/reddit_finance_43_250k_131.txt" "b/reddit_finance_43_250k_131.txt" new file mode 100644--- /dev/null +++ "b/reddit_finance_43_250k_131.txt" @@ -0,0 +1,10000 @@ + +&#x200B; + +[Part 1 \/ 2](https://preview.redd.it/8rr8foy9mec81.png?width=569&format=png&auto=webp&s=5eebe01389fa4ce8b6432722e4280782d4f71beb) + +&#x200B; + +[Part 2 \/ 2](https://preview.redd.it/llwbeyxdmec81.png?width=556&format=png&auto=webp&s=395fc48d16f1185bd104e0c19987f7dba23f8d1c) + +\---- + +Edit: fellow ape u/SimpsonsReferencer actually tweeted at them on Friday as well and got an response, just in case anybody was doubting the numbers. + +&#x200B; + +https://preview.redd.it/jgg3alscpfc81.png?width=579&format=png&auto=webp&s=86e3f356875c29c1464b61df10b30138bfe34e0f + +[https://twitter.com/avanzabank/status/1483091516579057671](https://twitter.com/avanzabank/status/1483091516579057671) + +\--- + +So, in May 2021 22.023 Avanza shareholder held 322.545 shares of GameStop. + +Today, 20.902 shareholders hold 511.178 shares. Source for shareholders: [https://www.avanza.se/aktier/om-aktien.html/194698/gamestop-corp](https://www.avanza.se/aktier/om-aktien.html/194698/gamestop-corp) + +**95% of holders have diamand hands and they overall increased their shares by nearly 60%!** + +What else can we deduct form this? + +The number of average shares at Avanza increased from 14.6 to 24.5. That´ is an increase of nearly 70%. + +And the current number does obviously not include already DRSed shares. + +If this overall increase in shares in retail hands is the same worldwide and i do not see why it should not be the case, this confirms two things for me: + +**We have diamond hands!** + +**Hedgies are fuk.** + +&#x200B; + +And all you corrupt "journalists" and coke rats of this world: you can shove all your "retail has sold" articles up your peehole. + +&#x200B; + +I am hyped about this new information, if there is any doubt about the authenticity of my conversation, i am happy to verify it with a mod or some other credible member of this awesome community. + +Now, excuse me, i will sell my kids bikes to get more shares while the crooks keep digging their own holes. + +DRS is the way, dont let the FUD get to you. We already won, the only question is when the match will be over. + +\---- + +Appendix: float calculation updated + +Editedit: here's a newer version of the calculation https://www.reddit.com/r/Superstonk/comments/s7btza/calculating_the_retail_owned_shares_in_the_most/ + +Edit: Avanza only serves Sweden, not the whole Scandinavia which i assumed first, making the projections much more bullish. Thanks to u/OneTwoOut for pointing that out. + +&#x200B; + +[Shoutout to their Twitter team, awesome response time](https://preview.redd.it/2wow2pd02fc81.png?width=365&format=png&auto=webp&s=22baaa1116db22140cca6abdda28fa1dbb201241) + +I made posts in the past based on some average assumptions and the Avanza and Nordnet shareholder numbers. In my last post about this i took the DRS bot average and assumed that only Avanza and Nordnet exist as brokers in ~~Scandinavia~~ Sweden. Obviously the bot average was to high. + +Avanza themselve published their market share last year ([https://investors.avanza.se/files/pdf/Presentations/2021-05-03\_Bolagspresentation\_ENG.pdf](https://investors.avanza.se/files/pdf/Presentations/2021-05-03_Bolagspresentation_ENG.pdf)), showing that they have an about 18% share (right-most column): + +&#x200B; + +https://preview.redd.it/z40axx2fqec81.png?width=1119&format=png&auto=webp&s=34fa85876e9c54301f043fadaec1fb68928a5315 + +They also state that their average customers age is on the younger side: + +&#x200B; + +https://preview.redd.it/0i8nlntpqec81.png?width=1098&format=png&auto=webp&s=fcdb70f741bde7f46a7c49ba76ec46522a47cf61 + +and obviously the savings are much less in the younger age range: + +&#x200B; + +https://preview.redd.it/wfe9lzktqec81.png?width=966&format=png&auto=webp&s=a24353be9cfdfaf08ab424bb528586a1488797c9 + +With all this i updated my model, assuming the 25 avg for ~~Scandinivia~~ Sweden as reference and also assuming 100k holders in ~~Scandinavia~~ Sweden (20.000 at Avanza, \~20% market share). + +It disregards that older holders at other brokers probably have a much higher average - on the other hand there are most likely less holders in older age ranges. + +Swedes are more inclined to invest in the stock market, so those numbers might not be applicable in the way i did it. + +I think this is still in any case extremely conservative, because: + +a) Average shares and shareholder number in the US and Canada is probably much higher + +b) It completely ignores DRS + +&#x200B; + +Anyways, thats what my model shows for the Top 30 countries by GDP only, which only accounts for about 1/8 of the worlds population: + +&#x200B; + +https://preview.redd.it/myxfym5j1fc81.png?width=610&format=png&auto=webp&s=8e94b341d597ec2ca161f506969f1f70a5110978 + +&#x200B; + +Take this with a big grain of salt. But there is no doubt in my mind that we owned the float in June last year - probably multiple times - and the Avanza data shows a very significant increase since then. + +Also the DRS bot and the GCS surveys for US and Germany showed a much higher average (iirc \~60 to 155 should be the range from that) and also a lot more hodlers. +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! + +And even when it does, it's hidden under the glossary. See for yourself - [https://www.sabsepehlelifeinsurance.com/](https://www.sabsepehlelifeinsurance.com/) + +Dhirendra Kumar wrote about this for ET this week - [https://economictimes.indiatimes.com/wealth/insure/life-insurance/term-life-cover-is-the-best-type-of-sabse-pehle-insurance-then-why-is-this-option-being-hushed-up/articleshow/90740154.cms](https://economictimes.indiatimes.com/wealth/insure/life-insurance/term-life-cover-is-the-best-type-of-sabse-pehle-insurance-then-why-is-this-option-being-hushed-up/articleshow/90740154.cms) + +Now majority of this sub will know the answer to why, but I'm just sharing it to show that perhaps IRDAI is still blind in its attempts to fully regulate the industry. Similar thing has happened in the past with the Aarogya Sanjeevani standard health plan. None of the major insurers advertise it or even have a major section for it on their website. + +It's worrying to see that this is what a common investor will look at (with all the ads these guys are doing) and never learn about term plans over ULIPs or endowment plans. + +Thoughts? +Some helpful information: + +Corporate position so salaried pay + +Paid on the 15th and end of the month + +In Michigan (at will state) + +Let me know if you need anything else. I haven't been able to get a solid answer through Google so I'm hoping you guys here can help. + +Edit + +I do have a job line up to start a month after giving my 2 weeks. I'm planning a week in between to move + + +Edit + +Thanks for all the responses! I'll be assuming that I will be walked out but will be prepared to stick around. I'm financially OK either way but I just bought a house and wanted to know what kind of to expect. +Hi + +I am currently a analyst at big consultancy X, coming up on 1 yr - on around 60k. + +Client Y has approached me to interview for a mid-senior level position around 140k. + +Client has told X that they want me to apply. I’ve applied. + +If I stay I will likely get a promo mid year to around 80k. + +What should I do - I feel like client Y put me in a difficult business now X knows I’m exploring other options. + +Advice? +At the age of 38 I just found out about Roth IRA here on Reddit financial subs. I have no idea where to begin. I do not know anything at all about stocks but I keep seeing people saying “open a Roth IRA now!!” when posters ask about retirement. I also see people say this quite often too... “Do not invest in what you do not know!!” + +As I stated above, I’m 38. Sad to say I just started getting serious about my finances in the last two years. I do not have any debt at all including a mortgage. Only have utilities/water, internet, and term insurance policy (for my wife). My income is $28K yearly. I do get dental and health insurance with my employer but no retirement. + +I want to invest in a Three to Four fund portfolio with Fidelity (FZROX, FXAIX, FZILX, FNILX)because of the minimum to invest is $0 as where Vanguard is $3K. A target date fund with Vanguard has my interest as well. + +I want to put money monthly as I do now with my regular savings account (.005 rate). I want to hold this money 30 years plus. I am not interested at all In trading, crypto, or investing my money into single stocks. I am looking at index funds and the s&p 500. I’m seeking your advice and I thank you all in advance. +# "They are rage, brutal without mercy. But you. You will be worse. Rip and tear, until it is done" (Doom quote). -- i think this summarises MSM vs retail pretty well. they are brutal. and you will see just how brutal i think below (speculation but please offer a counter argument). + +there is a lot of data to sift through and its still classifying as we speak. please do mark this post for youslesves because i will be adding links here and making a miniseries from what i found. + +&#x200B; + +TLDR: + +1. look at the MSM goes brr after the "sneeze" and after hediges closed- start asking yourself why-watch video for full effect = it starts tracking from november. +2. Computershares was effectively DROWNED out from january. apes knew about it but in the attack it was hidden. DRS is probably the way although none of this is financial advice. i am just going off the data. +3. There were just 1600 out of 77 MILLION posts and comments that even mentioned computershare before june 2021. many on the old sub. - we all know what happened to the sub. +4. I am building a site - [elegant-remote6667.com](https://elegant-remote6667.com/) that will hold everything - site isnt live yet but if somethign happens - that will be a repository for the dd. for sure. and the decentralised storage aint going anywhere. + +first off lets have a look at the MSM coverage for GME, eh? + +how can i do this? i have the data (below). thank you to everyone who provided the sauce in the comments - your contributions are what made it possible. + +&#x200B; + +[i think i have most posts and comments that i need now for Nov 2020 to June 2021 -thats a GZ compressed size, so its really close to 150gb in size that export...](https://preview.redd.it/1pco5ctljha81.png?width=648&format=png&auto=webp&s=1c5eaf6ed2429b10779b8f8a45f9e5da11a98a4f) + +i think i have most of the data now that i need and will actually need to start thinking about replacing one of the SSD's in the array... + +&#x200B; + +[ssds go brrrrt. he still has 70&#37; lifetime left, apparently.](https://preview.redd.it/pmpo3pfnjha81.png?width=709&format=png&auto=webp&s=61fe57be0385ab57beac444499eca233d7b0fb6d) + +# ape happy noises with data: + +&#x200B; + +[cpu goes brrrrr](https://preview.redd.it/1v1a6p0pjha81.png?width=1362&format=png&auto=webp&s=e0f100ef00a170d432a469a84eb8c4c4a9bbc571) + +&#x200B; + +[python goes bbrrr-happy ram noises.](https://preview.redd.it/lgwaw61qjha81.png?width=736&format=png&auto=webp&s=24848793e57958f30e7ad667b8f81c06a45763cf) + +# before you go on - listen to this video from 2009 (also backed up)- cokeratcramer himself- + +[https://www.reddit.com/r/Superstonk/comments/rzjkx0/coke\_rat\_explaining\_exactly\_what\_a\_short\_fund/](https://www.reddit.com/r/Superstonk/comments/rzjkx0/coke_rat_explaining_exactly_what_a_short_fund/) + +# ok screen shot time over - guess how many computershare posts and comments we had? up to june 2021? + +&#x200B; + +[all computershare posts or comments up to june 2021](https://preview.redd.it/pg41k7ftjha81.png?width=638&format=png&auto=webp&s=bac489de7fcc8eb0bf9c8a7e608ca2a1fcbc7930) + +looks good right? plenty of posts and comments? + +# all non computershare convo up to june 2021... 77 million posts and comments.- this is across all subs not just superstonk. we type "this is the way a lot but not that much". + +# so the ratio of computershare vs non compuetershare conversation is basically zero. 0.002077922% - fuck. they hid it well by spamming older subs before the s.sub and g.subs. fuck me. but i think the wrinkle brained found it in the end. + +# Computershare was known to apes in early january 2021, and i quote + +# "that is a myth - the only way to prevent share lending that i konw of is direct registration through computershare or physical certificate issue"- from a w333s333b333 ape. January 2021. You all remember what happened in january and February. + +# Part 2- msm fud. + +I collected a fair bit of data in the last year and now approaching a almost complete set of data to be able to do this. + +I am confident i have 100% coverage up to june 2021 now and have about 98% coverage for the rest of the year. + +# SO how does it look like? like this: + +[look at the sheer number of articles in january - those are UNIQUE. -yes -thats \~600 articles in january 2021. and it didnt die. and i am sure that still not everything as everything that wasnt posted on reddit isnt included here. ](https://reddit.com/link/rz2way/video/sgwbcvp2kha81/player) + +&#x200B; + +[And this is how it looks like properly, by month, from november to June. PRetty brutal right? December 15th and all of december while it was rising no one was batting an eye while it doubled. look what happened once they realised they are fukk?](https://preview.redd.it/l2dtmlx6kha81.png?width=1960&format=png&auto=webp&s=c6b65f404932b27bad7c748e775a933502a7acfd) + +UPDATE: + +and this is what it looks like with a full years of data: + +&#x200B; + +[full year of data](https://preview.redd.it/n3ncwhdi28b81.png?width=1317&format=png&auto=webp&s=e06b69c7a21b56e18b8866a1f63cea65d5e6a832) + +full year of data split by domain: [https://transfer.sh/WAszdw/output\_dates.xlsx](https://transfer.sh/WAszdw/output_dates.xlsx) + +A few very vocal people have mentioend -well of course it went up- why dont we look at another tech giant like i dont know meeecreesoft? + +&#x200B; + +[micro - s0ft \(dont know if this word is autoban or not\): 81 results in 6 months, same time period.](https://preview.redd.it/ntjnmrsl8ja81.png?width=1294&format=png&auto=webp&s=bb12208a90ed445a812cad82d73ee4c75a7e68dc) + +What about teh graphics card manufacturer? + +&#x200B; + +[NV\_ID\_IA \(again no idea if automod will ban it - 14 articles in databsse\) - this is the entire database. I will need to repull the last 5 years to see a good comparison for all these and it will take a while.](https://preview.redd.it/xcrnidtx8ja81.png?width=1338&format=png&auto=webp&s=b011ac4bba486535b75066cb7a3d851425ee74b7) + +Or what about k\_0\_SS? + +&#x200B; + +[clearly this isnt all the articles across absolutely every single subreddit- i did the top 3 non gme chats in 30 seconds rather than 6 hours. But i will repull the last 5 years of data and see what the true differences are.](https://preview.redd.it/u7368oqa9ja81.png?width=1327&format=png&auto=webp&s=5ff743d46be13c5044ea8d0354cdc920e475916e) + +HOw does this compare with other tickers I wonder? - I will find out.- currently above + +This post will now serve as the back up of ALL the DD. + +I will be updating it with links below as I go to gain access to the decentralised archive. + +# Data will live here once the rest is classified.- this will be the main post where i will post any new posts and updates so please sticky this one if you wanna follow me - -i will keep posting, i as an individual investor have drsd and i am fucking pissed at the last 72 hours of yahoo going out of their way to spread fud. - i will process the other 7 months of data in the coming days + +temp news link: [https://transfer.sh/sKR6Kw/msmlinks\_nov2020\_june\_2021.csv](https://transfer.sh/sKR6Kw/msmlinks_nov2020_june_2021.csv) + +notes for me for now: + +will update in full: + +* methodology +* how to dl data (all posts, links to msm articles, everything) +* any other points that come from comments. + +Ape Historian. +YouTube video of Buffett talking about GE's problems: + +https://youtu.be/TM9ztFadLLs?t=4m10s + +The Markopolos report is essentially quantifying these problems and showing that they are far more serious than previously believed + +Read the report here (it's a slide deck, easy to understand): + +http://fm.cnbc.com/applications/cnbc.com/resources/editorialfiles/2019/8/15/2019_08_15_GE_Whistleblower_Report.pdf + +Be careful, everyone +**Big banks have been quietly engaging in the same behavior that precipitated the crisis of 2008.** + +[https://theintercept.com/2021/04/23/deconstructed-whistleblower-financial-crisis/](https://theintercept.com/2021/04/23/deconstructed-whistleblower-financial-crisis/) + +>During the 2008 crisis, banks bundled together a ton of bad mortgages and created a new asset out of them, and claimed that since they were now all bundled together, they were no longer risky, and the ratings agencies went along. Those new assets are called securities, and they were made up of residential mortgages. Hence the name: residential mortgage-backed securities, or RMBS. +> +>This week, in a story in The Intercept, a financial analyst-turned-whistleblower provided data that bankers appear now to be doing the same for commercial real estate, inflating income and packaging it together into risky assets. +> +>Commercial mortgage-backed securities are exactly what they sound like. They are financial products that are backed not by home loans, but by commercial loans. The problem in 2008 was the bankers and brokers were inflating the incomes of people taking out mortgages. + +&#x200B; + +**CMBS Market Musings: Securitization Finding Its Footing** + +[https://www.wealthmanagement.com/investment-strategies/cmbs-market-musings-securitization-finding-its-footing](https://www.wealthmanagement.com/investment-strategies/cmbs-market-musings-securitization-finding-its-footing) + +>Mortgage Bankers Association’s Mortgage Debt Outstanding Report shows private-label CMBS makes up roughly 14 percent of the overall CRE finance market as of the end of the first quarter of 2021—roughly in line with its market share as of the end of the first quarter of 2019. The size of the entire CRE finance market was $3.46 trillion in the first quarter of 2019 and $3.72 trillion as of the end of the first quarter of 2021. + +&#x200B; + +**Synthetic CMBS Primer** + +[https://www.globalcapital.com/article/28mwqoqjrbvhq494fbuv4/derivatives/synthetic-cmbs-primer](https://www.globalcapital.com/article/28mwqoqjrbvhq494fbuv4/derivatives/synthetic-cmbs-primer) + +Synthetic collateralized mortgage-backed securities are tools for harnessing and exploiting commercial mortgage and real-estate expertise. Using synthetic CMBS, an investor can gain leverage for aggressive speculation or apply or apply sophisticated hedging strategies to manage risk. + +&#x200B; + +**Pension Funds Target CRE CTR's** + +[https://www.structuredcreditinvestor.com/Article.asp?article=Synthetic-CMBS-eyed&PUB=&ISS=25086&SID=73480](https://www.structuredcreditinvestor.com/Article.asp?article=Synthetic-CMBS-eyed&PUB=&ISS=25086&SID=73480) + +>Pension funds are targeting synthetic securitisations of commerical real estate loans, despite the challenges of the Coronavirus crisis (SCI 9 July). However, going forward, portfolio composition will be key for real money investors. +> +>Accroding to Chris Redmond, head of manger research at Willis Towers Watson: "Since mid-July, the screamingly cheap has gone and so now we are back to normal, trying to find better CRT valuations. + +No, seriously, wtf... + +Edit: + +**Potential for fraud in asset-backed securities. Without stronger penalties to discourage it, widespread concealment and falsification of information could potentially lead to another crash.** + +[https://news.utexas.edu/2020/12/03/lending-fraud-could-wreck-economy-again/](https://news.utexas.edu/2020/12/03/lending-fraud-could-wreck-economy-again/) + +>The biggest fraud potential, Griffin said, is no longer with home mortgages. It’s with other kinds of securitized assets, such as commercial mortgages. For collateralized loan obligations (CLOs), a kind of security backed by business loans, he’s found evidence that the underlying loans are riskier than the CLOs’ ratings reflect. +> +>Such weaknesses can be hidden by a strong economy but get exposed in a weak one, he said — such as during a sudden pandemic. + +**CMBS Refinancings at Risk as Empty Offices Become a Wasteland** + +[https://www.bloomberg.com/news/articles/2021-10-14/structured-weekly-office-wastelands-pose-cmbs-refi-risk-in-2022](https://www.bloomberg.com/news/articles/2021-10-14/structured-weekly-office-wastelands-pose-cmbs-refi-risk-in-2022) + +&#x200B; + +**US commercial mortgage-backed securities face crunch as US$40b of mall debt comes due** + +[https://www.businesstimes.com.sg/real-estate/us-commercial-mortgage-backed-securities-face-crunch-as-us40b-of-mall-debt-comes-due](https://www.businesstimes.com.sg/real-estate/us-commercial-mortgage-backed-securities-face-crunch-as-us40b-of-mall-debt-comes-due) + +&#x200B; + +**This time, the issue is not a bubble in the housing market, but apparent widespread inflation of the value of commercial businesses, on which loans are based.** + +[https://theintercept.com/2021/04/20/wall-street-cmbs-dollar-general-ladder-capital/](https://theintercept.com/2021/04/20/wall-street-cmbs-dollar-general-ladder-capital/) + +**Some Other Shtuff** + +[https://youtu.be/kuALRyGI3Ho](https://youtu.be/kuALRyGI3Ho) + +[https://youtu.be/RX1uzbAOnXc](https://youtu.be/RX1uzbAOnXc) + +[https://www.nytimes.com/2021/07/01/nyregion/manhattan-vacant-office-space-real-estate.html](https://www.nytimes.com/2021/07/01/nyregion/manhattan-vacant-office-space-real-estate.html) + +&#x200B; + +I'm not a huge fan of the guy, but he's already bet on it: + +**Icahn is shorting the commercial real estate market, which he says is going to 'blow up'** + +[**https**://www.cnbc.com/2020/03/13/icahn-reveals-his-biggest-short-position-amid-market-turmoil-commercial-real-estate.html](https://www.cnbc.com/2020/03/13/icahn-reveals-his-biggest-short-position-amid-market-turmoil-commercial-real-estate.html) + +>Icahn's short is specific to credit default swaps, or "CDS," which are assets that back mortgages of corporate offices and shopping malls. Icahn said the housing market bubble of 2008 has "happened all over again" due to loans made in 2012 to shopping malls and more. "You have a bunch of mortgages ... so the banks went out and loaned money against a lot of shopping malls, office buildings, hotels and retail," Icahn said. "It's all credible institutions doing it again." The banks sold mortgages on commercial real estate "and then, when they did those mortgages, \[the banks\] sliced and diced them and put them in something called a 'CMBX,' an index," Icahn said. The banks then sold bonds against these mortgages to clients. Icahn expects shopping malls and others in commercial real estate will default on these loans. "A lot of these bonds now are in grave danger," Icahn said. "It's like selling insurance to someone who's going to go to the electric chair in a couple of months." +Hi, + +I want to start off by saying that I'm aware I should have been more careful. I am partly responsible for the situation I am in but there were some factors I was unaware of. Though, I am unsure if these would help my case... + +So a year back, they came to me for help. They gave me a sob story (their parent ruined their credit rating and they were being charged for a phone bill (plus interest) that they thought they had resolved) and because they were a long time friend I decided (albeit begrudgingly) to help them. I thought it would be good for their credit rating and naively assumed that they would be grateful enough to be responsible with their repayments. I agreed to not tell anyone, which they assured me was because of embarrassment. + +Now, I have made one repayment on their behalf. They told me that they had the money but it had been rejected for some reason. I told them I'd pay it but I need the money back. Two weeks later and after multiple "I'll get it to you today." I still haven't received it back. I was prepared to give them the benefit of the doubt... But then New Years Eve comes round and I casually mention to a mutual friend that the borrower owes me money to which I get the response "They owe me money, I am a guarantor on a loan for them." + +They have a £10,000 loan with my mutual friend. + +A £5,000 loan with me. + +I no longer wish to be friends with the burrower. Their bad credit rating is due to being in major debt with pay day loan companies and I am very concerned about this recent development. If I had known about the other loan, I would never have agreed to help. They've lied to me and keep making excuses. + +I am able to pay the loan payments and I know I'm legally obligated so I will *if* I have to. Needless to say, I am never being a guarantor again. Are there any other options open to me (besides declaring bankruptcy)? + +Thanks in advance. + +Edit: + +Called the loan company. They weren't able to give me a settlement figure over the phone but said they will calculate it and send me it via email in the next three days. + +> Credit Suisse raised its year-end forecast for the S&P 500 to $3,025 from $2,925. + +> The bank's chief U.S. equity strategist Jonathan Golub said the "receding" risks will drive the market higher. + +> "Less hawkish comments from the Fed, declining inflation and recession fears, and the potential for a resolution to China trade issues are the primary forces driving volatility and spreads lower, and stocks higher," Golub said. + +https://www.cnbc.com/2019/03/18/credit-suisse-raises-sp-500-forecast-sees-20percent-gain-for-2019.html?__source=iosappshare%7Ccom.apple.UIKit.activity.CopyToPasteboard +Hi all, + +My wife was driving back from swimming when a tradesman tried to overtake and cut in front of her, scuffing and denting the driver side arch. Nothing major but a smallish dent on arch and a scuff which I need to buff out. + +Tradesman drove off without stopping however she got the number plate + +We logged it with the police when she got home for a collision report and called the insurance company. + +They said we weren’t liable for any excess and our no claims would be protected. They recommended a repair company. A couple of questions? + +1) If we go through with the repair is this going to impact our premiums massively. + +2) It’s a 65 reg, with a couple of minor scuffs… I was planning on getting the bodywork in one go. Can we turn down a repair? Does this still look bad on our premium. + +3) they have said we can ask for a hire car, but I have read stories online that we could get stung with a bill, if the other parties insurance don’t agree. Is this a valid situation? + +Thanks for the help and advice +WSBrethren, + +I want to call attention to the fact that GME has been consolidating for 2 months and looks just about ready to launch. Check the chart below courtesy of traderstewie. For months GME has been tightening and building higher lows on the daily and weekly. The key level to break out of the wedge is \~190 which we're pretty much exactly at now. Above $190 the path looks open to $300+. + +GME is starting to look like a rocket launch site. The only thing missing is volume. + +I like the stock, but do your own due diligence. There is always uncertainty. Don't speculate with $ you can't afford to lose. + +Update (7:45pm) - + +Well, GME broke the hell out of its channel. Don't believe the reports talking about a squeeze. The squeeze has not squoze. You'll know it's squeezing when the price shoots up dramatically. And each squeeze makes the next one more likely. Don't expect a smooth ride but I don't see much resistance from here to $300. + +https://preview.redd.it/mun17tps2a171.png?width=1240&format=png&auto=webp&s=81f63a9e0d3ed6e3a317968f7e20f05c1af4f063 +I am following FIRE and have assets mainly in cash and the stock market. This question is intended specifically for this subreddit where people have some kind of "fuck you money." + +I was an independent consultant for the last two years and when COVID hit, my last contract ended. I saw the writing on the wall from my other freelancer friends who were not getting new work anymore, and joined a company as an employee. Luckily I was able to do that pretty quickly. However the company is also not doing well and I am under a lot of pressure. Sure I am learning a lot but its like a sink or swim environment and I am not sure I will be able to swim long enough. + +With the economy slowdown, is anyone entertaining thoughts of just getting out of the rat race for 2020 and hope for better times in 2021? + +The two main concerns I have for this are: + +* Who knows whether the economy will bounce back by 2021. It could still be the same scenario only I am now more desperate for work. +* Explaining the gap. Easier to do when you're self-employed for sure. + +Also, another point is that I can't really move to Thailand or Cambodia to ride out the winter in a LCOL country. Maybe this will change in a month or two. + +Your thoughts? +A few weeks ago, I was having a discussion with my sister on the merits of buying a new car for $17000 vs a 2 year old car for $14000. + +Her argument was "it's only $3000 more for a new car." + +My argument was that $3000 was **200 hours** of work (equivalent to **FIVE weeks**) for her at $15/hour. + +Personally I just feel like it helps me a lot whenever I'm making a purchase of anything... in my mind I'm always thinking "well, I have to work 1.5 hours to pay for that" and it typically makes me less likely to purchase it. Seems like it's a pretty efficient way to save money and increase savings. Thoughts? +This happened a few months ago but it still shocks me a bit. + +It started out around noon. I got an email saying someone tried to reset my password. I ignored it. + +Hours later I got a call from someone pretending to be from venmo; very professional sounding. Said they had a breach on my account and asked about me authorizing a payment for a few hundred bucks and that I should've gotten an email about someone attempting to get in and that they were successful. I of course said no, and was a little alarmed for a second but decided to play along. + +They had tried to spoof venmo's number I think. All except the last digit of the number were the same, I know because I googled it while on the phone. + +What really set me off was them saying I needed to reset my password to some password they were giving me in order to reverse that "fraudulent charge." At this point I decided to play dumb and messed with them for a bit, kept them on the phone for a good 5-10 minutes by pretending I didn't know the layout of the app and was trying to do what they said. I eventually got bored, told them I knew it was a scam. The man got angry and hung up on me. + +It was obviously a scam in the end but I've never seen one they elaborate. Took them actual prep to try and reset my password so I'd get an email so I was on alert, then to call later acting like there was in fact a breach. + +Edit: holy cow this blew up😂 thanks for the rewards +I have a couple of portfolios in different brokers and got tired of using spreadsheets to track them so I created [Stonksfolio](https://stonksfolio.com) to solve my problem. + +Apart from the usual goodies, it also has a couple of nice features integrated: + +* **Contribution calculator** - enter your desired asset allocation and we can calculate your monthly contributions that will keep your allocation as close to the target as possible. +* **Individual transaction performance** - shows how each individual purchase has changed over time, letting you know if it was good or bad. +* **Weekly/monthly email status updates** - these are optional but are a nice way to keep on top of your portfolios if you don't want to check them every day (it's bad for your mental health anyway :)). + +It supports most US/EU stocks as well as ETFs for the passive investors. + +It's also completely free and has a full-featured demo so you can check it out without creating an account. + +Feedback/comments welcome! +This is a follow up to [the big chinese ticker scam](https://www.reddit.com/r/Superstonk/comments/wdzaxg/hkd_a_chinese_ticker_2mmonth_revenue_no_history/), which became the highest by-market-crap-on-the-books crime in human history, [as well as another recent ticker scam](https://www.reddit.com/r/Superstonk/comments/whjxvs/80m_to_4_billion_in_1_day_the_magic_of_crime_the/). + +Firstly, good job for staying away from these. MSM did try hard to call them 'mEmE StOcKs'. MSM tried even harder to push innocent investors like you and me into them. These pieces of illicit trash were, and still are, uninvestable. Remain clear of these pump and dumps, they're junk. They are not meme stocks; they'll never be. + +Let's take a look at where things are today: + +&#x200B; + +|Ticker|Book Value a week ago (in Billions of USD)|Book Value today (in Billions of USD)| +|:-|:-|:-| +|HKD|477.00|39.23| +|AMTD|16.70|2.81| +|QRTEB|4.60|1.36| +|LTRPB|0.40|0.15| +|MEGL|4.91|0.25| +|Total:|**504**|**43**| + +&#x200B; + +Let's remember that this criminal balloon was developed beginning July 15th during the GameStop split/dividend process that was defrauded by DTCC into a split. Also remember that Loop Capital, a GameStop short seller who is a stones throw away from Citadel in Chicago, underwrote the major one above. + +These tickers, just last week, were able to be used as **half a Trillion USD** **in collateral** \[for margin requirements\] on the books. **Now down 92% overnight to $43B**, which is less than the margin alert received by Susquehanna. + +Because of this, *I feel that something big is coming*... *Buy GameStop. DRS. Hold. Lock the float.* +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. Large updates will be made as posts using the [**Red Seal of Stonkiness**](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22%F0%9F%99%8C%F0%9F%92%8E%20Red%20Seal%20of%20Stonkiness%20%F0%9F%92%8E%F0%9F%99%8C%22) or [**Moderator**](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22%F0%9F%9A%80%20Moderator%20%F0%9F%9A%80%22) flair, but smaller updates will be listed in the Announcements. +* [**Dr. Susanne Trimbath AMA Transcription and Summary**](https://www.reddit.com/r/Superstonk/comments/n1vubv/stonky_news_special_report_dr_susanne_trimbath/), with supporting materials (and memes) + +## flair links + +Check out our [**flair system**](https://www.reddit.com/r/Superstonk/comments/mrwirc/updated_about_and_menu_flair_directory/), which is easily accessible via the sidebar button widget on desktop or the About menu on mobile. + +|[**Daily Discussions**](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22DAILY%20%F0%9F%93%8A%20Wrinkle%20Brain%20Think%20Tank%22)|[**DD**](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22DD%20%F0%9F%91%A8%E2%80%8D%F0%9F%94%AC%22)|[**Possible DD**](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Possible%20DD%20%F0%9F%91%A8%E2%80%8D%F0%9F%94%AC%22)|[**Discussion**](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Discussion%20%F0%9F%A6%8D%22)|[**Question**](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Question%20%E2%9D%93%22)|[**Education/Data**](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Education%20%F0%9F%91%A8%E2%80%8D%F0%9F%8F%AB%20%7C%20Data%20%F0%9F%94%A2%22)| +|:-|:-|:-|:-|:-|:-| +|[**News/Media**](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22News%20%F0%9F%93%B0%20%7C%20Media%20%F0%9F%93%B1%22)|[**Mega Threads**](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22MEGA%20Thread%20%F0%9F%92%8E%22)|[**Fluff**](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Fluff%20%E2%98%81%22&)|[**Meme**](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Meme%20%F0%9F%A4%A3%22)|[**HODL**](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22HODL%20%F0%9F%92%8E%F0%9F%99%8C%22)|[**Opinion**](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Opinion%20%F0%9F%91%BD%22)| +|[**Art & Writing**](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Art%20%26%20Writing%20%F0%9F%8E%A8%22)|[**Stonky Pets**](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Stonky%20Pets%20%F0%9F%90%B1%E2%80%8D%F0%9F%91%A4%22)|[**Shitpost**](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Shitpost%20%F0%9F%91%BE%22)|[**Superstonk Bot**](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22%F0%9F%A4%96%20SuperstonkBot%22)|[**AMAs**](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22AMA%20%F0%9F%8F%86%22&restrict_sr=1)|[**Moderator**](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22%F0%9F%9A%80%20Moderator%20%F0%9F%9A%80%22)| + +# important links + +[**SuperstonkBot is now live for anonymous posting**](https://www.reddit.com/r/Superstonk/comments/mtc3rb/superstonkbot_is_live_whistleblowers_welcome/) (with review) + +**Want to learn more?** [**Check out our extensive Wiki**](https://www.reddit.com/r/Superstonk/wiki/index) **and** [**FAQ**](https://www.reddit.com/r/Superstonk/wiki/index/faq) + +Please review the [**Superstonk Rules**](https://www.reddit.com/r/Superstonk/wiki/index/rules) before commenting or posting on r/Superstonk. + +*Daily discussion threads are created at 4:00 a.m. EDT* +Hey all, + +I hope you’re all doing well! + +With the stock market taking it’s toll downwards, it can be very difficult to see.. + +How are you feeling? & what are you doing to cope with the feeling? + +Personally, I’ve just stuck to XEQT, some blue chips and let it all ride out… and haven’t been checking my portfolio. + +—- + +I hope everyone is doing well, hope you have a good day & weekend! + +Take care, + +Stay safe! + +Happy investing / trading! +I don't have much debt! Because I don't have the ability to get into massive credit card debt due to not qualifying for large credit lines. It's a very thin silver lining but hey I'll take it. +I don't know how to word this properly. Basically, I got very interested in day trading and algorithmic trading over the past year. I'm finishing a degree in CS, so it was a neat way to further explore methods I learned in class. I wasn't really committed, just curious about the industry and how it worked. + +I want to build upon these interests, but I don't want to start something I know I cannot feasibly pursue. obviously, I know I will lose money at certain points, but the horror stories from day trading subs really irked me. + +I guess in conclusion, I want to apply my CS skills IRL and see tangible returns, but I don't want to waste time on a hobby that is statistically likely to drain my wallet clean. Any advice? + +Side note: I say "hobby" but not in a light-hearted way. I spent/spend most of my days tinkering around and reading papers so I want to reiterate this isn't something passive/random to me. +So unlike some of the guys on WSB I'm not stupid enough to think that there's a free money glitch in the market somewhere, hence my question is where I'm missing something: from my understanding, selling OTM covered calls on stocks you'd golf anyway can't result in an actual loss, ignoring missed capital gains of course. Is that true? You'd always get the premium and the worst that could happen is selling shares at an unexpected high price, sounds like too good to be true to me but I can't see any obvious error in my thinking. Am I right or do I belong to WSB +Apologies if the nature of my question is not amongst the topics discussed here. The recent scams of PNB ,Yes Bank have spooked the day lights out of me when it comes to choosing a bank to deposit my money. I have two accounts- one in SBI and one in ICICI. + +1 >How does analyse if a bank is safe enough and won't have a Pmc kinda incident where my money can't be withdrawn and is in jeopardy? + +2 > Which banks are usually considered safe? + +3.> Are there any other avenues where I can deposit my money? ( My primary criteria is safety ,second would be swift withdrawal if possible) + + +P.s--- I am in my first job and a noobie in finance +[https://www.moneycontrol.com/news/business/franklin-templeton-india-shuts-6-credit-risk-oriented-funds-due-to-market-illiquidity-5183701.html](https://www.moneycontrol.com/news/business/franklin-templeton-india-shuts-6-credit-risk-oriented-funds-due-to-market-illiquidity-5183701.html) +Now before I get destroyed in the comments let me break it down. + +I’ve recently got back into gym and I’m trying to gain weight. In order to do so I need to be eating around 12,500KJ a day. I’m 21M, 5’5 & 69Kg for reference. + +Heres a break down of my bare minimum food for the day: + +Breakfast: High Protein Yogurt - $2.50 + +Snack: 120 Grams of Cashews - $2 + +Lunch: 3x Cans of Tuna - $6 + +Dinner: Muscle Chef Meal - $12 + +Snacks: $5 + +Daily Cost - $27.5 + +Weekly Cost - $192.5 + +This is not even including protein shakes, creatine, pre workout or even essential groceries like soap, deodorant etc. + +So how are people claiming to live on $100 a week on their entire grocery expenditure? + +Am I spending too much? Where can I cut back? + +I understand that if I cook my own meals in bulk, I can eliminate the need for a $12 meal each day but I’m not a very time rich individual. How much would I even save doing this? + +I’ve been reviewing my expenses and food seems to be the last gategory that I can cut down on. But after doing the numbers and that I don’t want to have a diet living on noodles, I seems harder than I thought. + +So roast me down below or provide some genuine feedback. It would be much appreciated. + +TLDR: Food Costs Money + +EDIT: + +Thanks for all the help guys! Over 300 Comments already! + +However to address some of the concerns and to provide further clarification: + +BREAKFAST: +A lot of people are wondering how I spend $2.50 on yogurt. I buy the large YoPro Tubs that are about $6.70 and eat nearly half a tub to maybe 1/3. However I tend to add muesli, Berries and protein powder aswell. This obviously makes this breakfast a lot more expensive than $2.50. Only way to make this less would be to swap to something else entirely. + +DINNER: +This is the CLEAR way to reduce my meal expenses. MEAL PREP. Would save lots of money here. Thanks for all the suggestions guys. + +LUNCH: +Carries into the previous point. MEAL PREP would save money here and would rid me of my Mercury. + +“SNACKS” +Some of you couldn’t fathom spending $5 on snacks throughout the day. My snacks are Jerky, cheese, Fruit, Nuts, Deli Meat, Protein Bars etc. I try to eat healthy. $5 is super conservative when eating these kinds of foods and I would honestly spend more. + +VERDICT: +I’m going to learn how to cook and learn how to create bulk foods for meal prep. Not only to save money, but to learn an important skill. I’m not going to cut out eating the foods I enjoy. Like jerky, nuts, fruit etc. I earn enough money to the point I just bought whatever I felt like. But I think this reddit has made me realise the balance I’m after and what the right decision is for me to do. + +Thanks Everyone! +Are premium bonds still just a bit of fun, given how low bank account interest rates are? + +My 'savings' account currently pays 0.35%, whereas according to [NS&I](https://www.nsandi.com/premium-bonds), its premium bonds have an '*annual prize fund interest rate of 1.40%*' + +I do have a stocks & shares ISA, but am also looking for something low risk to invest in. Is it fair to even call premium bonds an investment, or are they still just a bit of fun for those that have maxed out their ISAs etc (I certainly haven't!) + +Thanks & all the best. +&#x200B; + +https://preview.redd.it/ygqnz9bqyli71.jpg?width=700&format=pjpg&auto=webp&s=9d4e79e9eb8e295671ce966b2584333e71029fd1 + +*This is one of a series of posts where I will apply my fast and dirty historical fundamental analysis to some of the biggest dogshit stocks of 2021. If you are interested in the process I use below to evaluate a stock, check out* [How Do I Buy A Stonk???](https://www.reddit.com/r/ASX_Bets/comments/lzjpvf/how_do_i_buy_a_stock/) + +# The Business + +&#x200B; + +https://preview.redd.it/7cj0u1nuyli71.png?width=1800&format=png&auto=webp&s=72e6a65b1d019a86a2d63edfcd29515d78fbb44b + +Slater & Gordon is a law firm founded in Melbourne, VIC in 1935. It today stands as one of the largest Australian consumer law firms, with 63 offices around the country. They specialize in personal injury, insurance, commercial, employment, and class action litigation. They are perhaps best known for their “No Win – No Fee” approach, which makes them easy to access by people at all levels. + +In 2007 they listed on the ASX and were one of the first law firms in the world to go public. Since listing, they grew quickly, aggressively acquiring smaller independent firms all over the country. In 2012, their sights expanded to outside the country, launching acquisitions in the UK for a number of years. + +These days, the 53% controlling interest of Slater is a holding company in Ireland, who are themselves owned by Anchorage Capital Group, a New York based investment firm. + +# The Checklist + +* Net Profit: negative 4 of last 10 years (4 of last 5 in fact). Bad ❌ +* Outstanding Shares: lmao. Bad ❌ +* Revenue, Profit, & Equity: dramatic drop L5Y. Bad ❌ +* Insider Ownership: 0% director interest w/ no buying LY. Bad ❌ +* Debt / Equity: 67% w/ Current Ratio of 2.5x. Good ✅ +* ROE: 1.7% Avg L10Y w/ -(1.0)% FY20. Bad ❌ +* Dividend: No dividends paid since FY15. Bad ❌ +* BPS $1.20 (0.6x P/B) w/ NTA $1.20 (0.6x P/NTA). Good ✅ +* 10Y Avg: SPS $2.62 (0.3x P/S), EPS -(2.0)cents (#N/A P/E). Bad ❌ +* Growth: -(26.5)% Avg Revenue Growth L5Y w/ +3.4% FY20. Bad ❌ + +**Fair Value: $1.25\*** + +**Target Buy: #N/A** + +^(\*Fair value is based off of the historical 10 year averages. However, I must note that this is not an indication of their current or future valuation by any measure. Furthermore, the average EPS over the same period is negative, so no target buy can be estimated.) + +# The Knife + +[marketindex.com.au](https://preview.redd.it/v9p2oj0nzli71.png?width=943&format=png&auto=webp&s=1038e1124403bd72fd9fd46e47157e5cc7acb860) + +I think the SGH chart is about as near as you can get to a stock flatlining. SGH was a stock that rose to such heights as to be included the exclusive ASX 100 list, considered to be amongst the 100 largest public companies in Australia. Now, SGH is not even included in the All Ordinaries. It is not even ranked within the first 1000 public companies by market cap. + +These days it’s not unusual for open market days to come and go without any trades taking place. Recently the CFO was announced to be resigning; this is just prior to the annual report coming out. Surely a movement would take place as the market reacts? Nope. + +Because of a 1:100 reverse stock split in 2017, the numbers on the chart above don’t lie. The current price as of close of Friday (20th Aug 2021) of 70cents, would in fact be 7cents had the split not occurred. This means that baghodlers who purchased at SGH’s all time high of $7.15 in April of 2015 would be down **\*\*\* 99.9% \*\*\*** on their investment today. + +# The Diagnosis + +The Short Answer: They got stung with a bad acquisition. + +&#x200B; + +https://preview.redd.it/fi7kxvvq5mi71.png?width=1000&format=png&auto=webp&s=dd34c0af4c66c547a8b10ed843ad03c5f1ee63f3 + +The Long Answer: Shortly after acquiring the professional services division of Quindell in the UK, media reports surfaced regarding investigations into how Quindell had represented their figures for the previous two years. SGH’s management in 2015 made a horrendous mistake when they acquired the division. It seemed that they had not done their due diligence properly on what ended up being a lemon of an investment—a billion-dollar lemon at that. + +Perhaps more importantly, when the writing was on the wall as red flags started to pop up and sirens were blaring everywhere, SGH’s management doubled down on their decision claiming they had done all their due diligence properly, there were no issues at all, and the figures were fine. + +&#x200B; + +https://preview.redd.it/4adj7wic0mi71.png?width=1000&format=png&auto=webp&s=d96537e68516827fa7dd136d49d7fec38ff0fa16 + +Except they weren’t; it was an issue—a very big issue. To add salt to the wound for investors, SGH had conducted a massive capital raise in order to fund the acquisition. To put this in some perspective, SGH’s market cap was roughly $2b when they decided to acquire Quindell for $1.2b. Just a year prior, SGH’s market cap had only just hit $1b. So for some, their valuation had outrun their fundamentals at that point already. Either way, this was an enormous acquisition for them. + +How could SGH have gotten it so wrong? Surely a bunch of smart lawyers couldn't have gotten it so wrong? + +There is an interesting phenomenon that educated professionals in other disciplines tend to be bad investors. Perhaps their advanced degrees lend them to be overconfident in their own abilities. As Benjamin Graham wrote, “The investor’s chief problem—even his worst enemy—is likely to be himself." It’s the peculiar problem in investing that sometimes a little bit of effort and knowledge is worse than none at all. Trying to get fancy with investment decisions can be fraught with risk, when simply putting one’s money into an ETF would have borne out better in the long run. + +Whatever the case may be, I would venture a guess that the dozens of lawyers at SGH at the time, whom had poured over the figures for Quindell and decided to go ahead with the acquisition, might be living example of what Graham was talking about. Maybe they should have just bought some VDHG with that $1.2b instead. 😺 + +# The Outlook + +SGH launched lawsuits since the deal to try to recoup some of the money that they lost, but... + +&#x200B; + +https://preview.redd.it/gw4wovy91mi71.png?width=1400&format=png&auto=webp&s=e450cc78df3389aeda50656ea74198b38eff56d7 + +After years of litigation, a judgement was achieved finally in 2019 pertaining to the allegations against Quindell (who had renamed themselves Watchstone at that point). SGH won only a symbolic victory. Their A$1.2b blunder that turned into a £637m lawsuit claim was reduced to a A$40m settlement, of which SGH expected to receive no money in payment. If anything, the courts more or less reaffirmed that SGH should have done their research a tad better. + +&#x200B; + +[The cases are real, the people are real, and the rulings are final!](https://preview.redd.it/863ypoif1mi71.png?width=800&format=png&auto=webp&s=ceb05d229e8e68aca5408acb31fa2b080614b765) + +Though, that’s was small comfort to the shareholders holding the bag on this one. Indeed, the fallout from SGH's mistake wasn’t the end of their woes. Shareholders had launched their own class action suit... against them. Ironically enough, the shareholders employed the services of Slater’s main competitor, Maurice Blackburn. That class-action is due to go to court in November of this year. SGH might be on the hook for even more money they don’t have. 😸 + +# The Verdict + +Just a mistake, it’s still good, it’s still good!? The underlying business is solid, right? Well… I have bad news… + +&#x200B; + +https://preview.redd.it/ghnnszk02mi71.png?width=1070&format=png&auto=webp&s=f2cc8cb2066539e8781716a4c62ee69e0b1f12a0 + +Looking at the 10-year historical figures, it’s hard to really know where to start. For one, the business seems to have utterly fallen apart since the 2015 fiasco. SGH did post impressive top line revenue in FY16, but it was marred by heavy net losses. Those losses continued until a brief respite in FY19 before posting another loss in FY20. + +They did show profitability in their 1H21 report, so perhaps there are some signs of a turnaround. But there’s a bit more to this stonk than simple revenue and profit figures… + +When the value of the Quindell acquisition was rerated, it dropped SGH’s equity by over 80% almost overnight. Problem was, more than what was left was actually just intangible assets, which eventually got stripped off the books. This left SGH with their equity almost $250m in the red in FY17. + +That instigated SGH’s lenders to force them into a recapitalization. This ended up being a 1:100 reverse stock split which dropped their current shares from 347.2m to 3.5million shares. Then in conjunction with that, a massively dilutive recapitalization which involved issuing another 66m odd shares. These were given directly to SGH’s lenders. At the end of the day, the entire shareholder registry previous to the changes were left with only a 5% stake of the company. + +On top of all this, SGH had to come back to the bleeding shareholders and lenders to run another massive capital raise in FY20, which doubled the share count again. Doing the math all the way back prior to the initial $1b raise to acquire the Quindell services division, the original 200m shares in FY14 account for about 1% of the current outstanding shares. + +&#x200B; + +https://preview.redd.it/5j3dg86a2mi71.png?width=1000&format=png&auto=webp&s=afd91b8b2f66e2ec35a028ff4f8ca1e2e7f7049b + +Capital raises seemed to be in vogue for the company throughout their history, with multiple raises done before and after the 2015 disaster. It would seem that SGH don’t have the best track record for making decisions for the benefit of their shareholders. Furthermore, they appear to be hopeless with investment decisions. Perhaps it’s no surprise then that it appears that none of the current directors own any shares directly. That's one investment decision maybe they got right. + +Even if their revenue and profit levels had not dived and the business was hypothetically pumpin’, I’d be inclined to give a wide berth to this stonk in virtue of their history on share quantity movements alone. As it is, this stonk is a dog from just about every angle anyway. The only people who seem to have come off better during the whole saga is the lawyers who've had a field day in court “cleaning up” the mess. + +# The Target + +I think I can say without question that there is no objective basis to establish any consistent fair price or target price at this stage. SGH would need to demonstrate 2-3 years of responsible capital management, with no further significant changes in the share count for me to have any confidence in putting a number on their value. + +I would also go as far to say that I’d personally need to see directors buy shares in a significant way to solidify the impression that they have changed their ways and have skin in the game now too. And with the last capital raise having occurred at the end of 2019, and directors holding onto none themselves, those things don’t seem likely to happen anytime soon. + +The only positive one might draw is that SGH's current share price is well below their net tangible book value. Perhaps someone with a lot of risk tolerance would want to take a punt? However, if there were another dilutive capital raise or a massive net profit loss in future, it would bite into that equity. The $1.20 on paper book value right now is worthless as a bearing for any future investor. The market might have it right, with the current share price floating just a bit over half of that value. + +# The TL;DR + +Slater and Gordon are one of the largest Australian consumer law firms. Listed in 2007 on the ASX, they were also one of the first firms in the world to go public. After a meteoric rise, fuelled by aggressive acquisitions, they met their match when they bought a $1.2b lemon of a company in the UK. + +The management of the time doubling and tripling down on their decision-making didn’t help matters; shareholders lost confidence. Fundamentally, the company from an investment perspective was destroyed. A massive capital raise had been required to fund the acquisition, and once the dust settled, Slater was trading with negative equity and forced into a recapitalization. + +The sorted history on this company says enough that one would have to probably be a bit insane to invest in them now. The total shareholder registry prior to the UK acquisition now represents only about 1% of the current shares. And the pain might not be over, as the previous shareholders are due to go to court in Nov in a class action against Slater for their mismanagement. + +This may be the worst former ASX200 company still on the exchange today, in terms of overall investment performance. + +*As always, thanks for attending my ted talk and fuck off if you think this is advice.* 🚀🚀🚀 + +*I'd love to hear other's opinion on SGH and whether there is potential here that I am not seeing. Also, suggest other dogshit stocks that are/were on the ASX 200 index, and I might put them on the watchlist for a DD in future editions of this series.* + +*On Deck Next Fortnight: SXL* + +*Currently on the Watchlist (no particular order): DCG, CGF, URW, IPL, Z1P, SXL, RFG, DCG, AZJ, FLT, QAN.* + +[Previous Editions of Catching the Knife](https://www.reddit.com/user/Nevelo/comments/sfc7gi/catching_the_knife_series/) +When I first embarked on my investing journey I joined ausfinance to try to get some ideas as to how I could make money. + +Turns out they don't know anything except for Vanguard, how is anyone supposed to make money from Vanguard? + +So I ventured out into the wilderness of ASX_Bets and found our Messiah Melvin Butters spreading the word of our Lord and saviour BRN. + +Since that day my portfolio has seen nothing but green and i couldn't be happier. + +Thank you Melvin and the ASX_Bets community from saving me from eternal damnation +Just want to get a feel for what people here think. In 2019 & early ‘20 I bought 2 turnkey properties for well under 200k each, My plan was to buy a 3rd in 2021, but now those kinds of deals don’t seem to exist. My next thought was to maaaybe look towards buying a STR and going the air bnb route, but it seems that all of the places in desirable spots are incredibly inflated. + +What have folks’ strategies been now that things are more expensive? Are you waiting for the market to drop? Will we ever get back to a time when things are not so inflated in your opinion? + +Thanks +GME will never happen again, it’s a once in a lifetime opportunity to reach the high score. + +Players are buying lives, chances, to hit the ultimate high score (profit porn) and gain immortality in the saga that is about to unfold. + +There are 3 achievements / high scores to be earnt from this game of chicken against the financial enterprises that are the enemy. Ranked in order from lowest to highest e-peen with 3 the ultimate high score. + +1. Total profit from accumulated sells (P2W - the more you buy the easier it is to achieve this, funnily enough in any game whales are your enemy, now we cheer them on!) + +2. Highest sell score (who manages to land the top and earn immortality???) + +3. Highest profit %. Those diamond handed mother fuckers that held those shares from eons ago, posting a 1,000,000,000% gain on a single sale. This is anyone, from x to xxxxx that have had the bollocks to hold that single buyin that is now single handily gonna fire them to the moon. + +I can see it now, new high score guy posting arcade screens of the new daily winner, all whilst the float is locked and people are selling their lives (shares) on brokers to achieve the ultimate post porn after it is all said and done. + +But then, out of the shadows, after the title screen has rolled, a secret achievement and high score is revealed. + +4. The crazy mother fucking bag holder award goes to the diamond balled, autistic retard that managed to buy at the top. This guy will be revered and praised as the ultimate high score champion cause this silly cunt (I’m British, it’s a compliment) kept buying all the way up to DRS it and keep the float locked and managed to earn the title “DeepFuckingBuyer”. + +The morale of the story is once this kicks off it’s going to be fun, it needs to stay fun and the aim of the game is to high score. + +Just don’t dance! +Your markets are run by bots. Now your /r/Asx_bets daily threads are too. + +Read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) people[.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +[Posts relating to the "Is /r/ASX\_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. You have been warned.](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share) + +Automoderator may provide "Guidance" for Lazy and zero effort posting. + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related.](https://discord.gg/wsNDGTf5QH) +THE RBA HAS CLEARLY BUILT ITS ENTIRE ECONOMICS PLANNING AROUND DISRUPTING THE PURGE, BUT NOT EVEN A .5% RISE CAN STOP US. + +IOU NU /u/MOTHERFUCK3RJONES SEEMS TO SHOW THAT OWING PEOPLE SHITLOADS OF MONEY IS STILL THE GO, WITH IT RISING 4.8%, BUT KEEPING YESTERDAYS GAINS TO A TOTAL OF A 43.5% RISE FROM FRIDAY. MAKING IT THE FRONTRUNNER. BUT LETS SEE IF IT JUST OWES YOU OR IF IT PAYS YOU. + +AVL, BY /u/WALLYONE123 MADE UP TODAYS BIGGEST WINNER, WITH 20.6% FOR A RESPECTABLE, BUT NOT VICTORIOUS 24.2%. + +SADLY, YESTERDAYS WINNER OF ANL BY /u/OUTRAGEOUS_JUNKET817 FELL BACK TO IT'S RECENT LONG TERM PRICE OF .001, A 33% DROP FROM YESTERDAYS PRICE. THE LARGEST LOSER OF THE DAY. BUT CURRENTLY SITTING ON SIMPLY A 0% CHANGE. WHICH LOOKS LIKE A SURPRISINGLY SAFE BET, UNLESS IT DELISTS IN THE NEXT 3 DAYS. WHICH, LETS BE HONEST, ISN'T THAT INSANE. + +THE RUNNER UP FOR WORST STONK AND CURRENT FRONTRUNNER FOR HUMAN SACRIFICE IS /u/NOHORNCAP WHO'S SELECTION OF BAT IS NOT LOOKING LIKE A HOME RUN. IT HAD A PRICE OF -16.7% TODAY AND OVERALL. BUT IT IS CLOSELY BEING FOLLOWED BY TRT, WHICH HAD A 4% GAIN WHICH SLIGHTLY BALANCED OUT THE DISASTROUS DAY YESTERDAY. + +https://preview.redd.it/d7hi5bqtrp991.png?width=703&format=png&auto=webp&s=247bbe2b41ba7d32062552282674472f7c6ceb1b +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/ywAGqfUAQE) +I'm a 19 year old Japanese male living in Tokyo, Japan. I grew up in the US though and have citizenship of both countries. Fluent in English, half fluent in Japanese. + +For a variety of reasons I'm dropping out of college after one year. Got to leave the dorm in 30 days. Unemployed and looking for a job. No friends or family who could take me in. + +I have no long term goals right now, because I'm not really sure what I want to do in life. Right now I'm focusing on the short term, getting a job, housing, food/water, etc. The necessities. Right now I'm focusing on how to solve the issue of housing. $1000 is nothing, maybe 1.5 months of rent at a sharehouse. So I'm looking at other options, which include living in a storage unit, living in a tent, living in a sleeping bag at parks, living in a car, etc. There are problems to all these options though, like the fact I cant drive, living in a storage unit is illegal, that there aren't many places to set up a tent free and legally, etc. I've also been considering the US or French military, but I'm not sure if the military is the right path for me. (In addition I dont have my SS or birth certificate which are necessary for joining the US military, which is a slight complication). Do you guys have any advice on what path I should take? Thanks. + + +Edit: Thank you for all the great advice. I'll be spending the next 2 weeks looking and applying to jobs non stop. Thanks to you guys I got a lot of new ideas on the kind of jobs I should apply for. Also got great advice on how to find cheap housing. I'll post an update in a month. Thank you again! +I'm 27 with no 401k set up. I spent my early and mid-twenties experiencing severe suicidal ideation and never thought I'd see past 30. As you can imagine, it was very hard to put money into a retirement fund I was certain I would never use. Now the fog has cleared and I'm realizing I need to start planning for my future. + +I currently am in a contract job so I have no benefits including 401k matching. I'm living paycheck to paycheck so again, it's hard to put money aside. I'm already trying to put money aside to afford my taxes for next year when I file but that in itself is a very difficult thing to manage. I have only a few thousand in savings for emergencies. + +What advice do you have for me? Where should I start? + +Thanks in advance + +&#x200B; + +Edit: Just want to say thank you to all who responded. I appreciate the kind thoughts regarding my mental health. And I sincerely appreciate the advice about my financial status. It sounds like I need to look at the financial guide and also consider starting a ROTH IRA. Thank you thank you! +Hello my brother and I made a partnership and purchased 2 small trailers on a nice corner lot of land in the city. We paid 60k. We are getting 450 each house so 900 a month. I plugged everything into a cap rate calculator and got like a 16% cap rate. Just curious if we have made a good decision. +I'm a long term hodler and in January 2020 I started a non-tax exempt brokerage account in my daughter's name to start saving for college. I did this as opposed to a 529 so I could buy GBTC since I thought it would more than offset the tax benefit. In less than 14 months I was able to save enough to pay for 4 years of tuition at a private university because of the dramatic rise in Bitcoin's price. My assumption is that I will get a 9% average return from now until she goes to college and that the cost of tuition will rise at 3%. I obviously still need to deal with paying taxes and want to build a buffer, but it is a nice milestone to hit. +Hi everyone, my Wife used to work for a company that she recently resigned from. This company is known for being toxic and having a bad culture. This is a professional level job in IT Sales. She was working for 9 months then decided to quit to pursue a different position and the company she left Finance/Payroll department reached out and said she owes them 56k and to wire it to their company bank account. I checked the emails and the bank account is legit. I went to her payroll manager and added up all the gross pay from her 8 months of paychecks and that totals 56k gross pay. Is this even legal? What should we do here? We replied back and said that this request is a mistake. We have not agreed to any form of payment, so no slip ups there. Also they are asking us to send gross pay rather than net pay which is actually 45k, so this just doesn’t make sense. Any help here is appreciated! + +Edit: There is no repayment clause in the contract. No commission advancement. Just a clearly stated base pay with opportunity to earn on target earnings. Cookie cutter offer letter employment contract that you would see in any other fortune 500 firm. Read every word. +The penalty is Beijing’s toughest action to date in its campaign to tighten supervision of the country’s internet Goliaths. + +Beijing’s market watchdog began investigating Alibaba in December for potential antitrust violations including preventing merchants from selling their goods on other shopping platforms. On Saturday, the regulator said its investigation had concluded that Alibaba had hindered competition in online retail in China, affected innovation in the internet economy and harmed consumers’ interests. + +Alibaba said in a statement that it would accept the penalty “sincerely” and would strengthen its internal systems “to better carry out its social responsibilities.” + +Skepticism about the clout of large internet companies has been on the rise in the United States and Europe, too. Western regulators have repeatedly fined Goliaths such as Google in recent years for various antitrust violations. But such penalties generally have not changed the nature of the companies’ businesses enough to mitigate concerns about their power. + +Source: New York Times: [https://www.nytimes.com/2021/04/09/technology/china-alibaba-monopoly-fine.html](https://www.nytimes.com/2021/04/09/technology/china-alibaba-monopoly-fine.html) + +Wallstreet Journal: [https://www.wsj.com/articles/alibaba-hit-with-record-2-8-billion-antitrust-fine-by-chinas-market-regulator-11618018830](https://www.wsj.com/articles/alibaba-hit-with-record-2-8-billion-antitrust-fine-by-chinas-market-regulator-11618018830) +I'm applying for the Happiest minds IPO via 3 accounts. One of which is mine and the other 2 are my friends. In the eve of one of us reciving the shares, how do I go about transferring them to my own account? +All of the 3 are reg in Zerodha. +I'm posting this as a PSA, because when I first started a few years ago I was totally unaware of this: if you have any ETFs in a non-registered account (as many of you likely do), then you need to make sure you track distributions information for tax purposes and include them in the calculations for your capital gains reports to the CRA when you file your taxes. + +EDIT FOR CLARITY: Again, I'm referring here to NON-REGISTERED accounts, not TFSA or RRSP (which are registered accounts). For TFSA and RRSP, this doesn't apply. + +Hopefully you are all already keeping track of transactions in your non-registered account if you have one (right?). That needs to include things like reinvested dividends and returns of capital. However, you usually need to go hunting for the return of capital information. There's two ways to get it: + +One way is to use the CDS Innovations website to get the information manually. Adjustedcostbase.ca has a great blog post on how to do this: https://www.adjustedcostbase.ca/blog/tax-breakdown-service-for-etfs-and-trusts-from-cdsinnovations-ca/ + +The easiest way is to use adjustedcostbase.ca as a Premium member ($49 a year); it not only makes it easy to track your non-registered account transactions for tax purposes, but you can automatically pull the information from the CDS Innovations website for each of your ETFs with the click of a button to add the transactions. + +**YOU MUST TRACK THESE TRANSACTIONS for tax purposes.** They affect your adjusted cost base (ACB) for calculating your capital gains, which in turn affects the numbers for capital gains that you submit to the CRA at tax time. Worse, if you don't track them (particularly "phantom distributions"--see the adjustedcostbase.ca blog post above), the error will be in the CRA's favour, not yours--and you'll wind up paying more tax than you should. + +By the way, as an aside: for those of you who hold XAW, XEQT, X-whatever in your non-registered account, iShares just released their 2020 tax breakdown info, so that is now available on CDS Innovations. + +Hope this is helpful for some of you! +https://www.bloomberg.com/news/articles/2019-09-25/why-is-health-insurance-so-expensive-20-000-a-year-for-coverage + + +The cost of family health coverage in the U.S. now tops $20,000, an annual survey of employers found, a record high that has pushed an increasing number of American workers into plans that cover less or cost more, or force them out of the insurance market entirely. + +“It’s as much as buying a basic economy car,” said Drew Altman, chief executive officer of the Kaiser Family Foundation, “but buying it every year.” The nonprofit health research group conducts the yearly survey of coverage that people get through work, the main source of insurance in the U.S. for people under age 65. +Like the title says a property nearby is clearly vacant and the listed owner on the county auditor died in 2018. How do you figure out what is going on with this property? If it were in foreclosure it's been a long time...the grass is occasionally being mowed, but it's starting to be an eyesore. I'd love to buy it and fix it up but can't figure out who to even contact. Any tips? +The US dollar is extremely volatile against bitcoin + +Edit: thought this wasn’t needed to say, but this whole statement is half sarcasm/a joke. Please stop giving ‘advice’ on keeping coins on an exchange. + +Edit 2: just as a second reminder, and if you cant read the words in edit 1, a) you might need some basic educational help, b) please don’t spend the time to write a reply about my keys, it’s a joke. +When I lurk this sub I get disheartened by all the people quoting their easy breezy software developer/tech gigs earning $200k+. + +But I don't even understand how people don't mind working in corporate jobs full stop. I kind of cringe when I see people talk about how they "just fell into coding" or how they "enjoy writing up legal documents for clients" etc. + +Coming from IT/consulting I couldn't fathom someone actually finding motivation to do that work (no offence if you do). + +Does anyone do something besides IT or generic corporate that is mildly fulfilling? I get it's called work for a reason and it's not supposed to be enjoyable, but surely this can't be the only realistic options to achieve a good salary. +Just wanted to vent really... + +Been discussing remuneration for a new role, temporary contract. Starts out at, say, 100 bucks for the year. Great. + +Oh wait that’s 100 bucks *including super*. Not so great but okay. + +Oh actually the role is only 9 months so the pay is 75 bucks including super. Not great but fair. + +Actually that 75 bucks is the annualized rate, you’ll get 56.25 for the nine months. Getting pretty shit now... + +And now we’ve decided that it’s actually a twelve month job after all but total budget is only 56.25 so that’s now the offer for the full twelve months. Including super. Take it or leave it. + + +Fuuuuuuuck. +I will start first: + +&#x200B; + +* Indicators works +* Price action works +* Dont trust the social media +* You will need more time than you think to master this bussiness +* Those who started with you are not trading now +* No, sorry for telling you this but Smart Money Concepts are not the holly grail (but if it works with you, congratulations) +* The majority of real traders dont post, but they usually reply to your messages if you ask for help +* There are things that works better than only price action things like VSA, OrderFlow, Sentiment, Microstructure, Deltas, level II orderbooks, etc... but to find good information about that its harder because all the noise in this industry. + +&#x200B; + +I know that many things remained unspoken and I want to read you guys! +Whatsup r/forex! + +As a few of you know (those who read my initial post anyway) I went live this week with 250AUD. Just thought I'd give a quick update for those who care, if it's not appropriate mods please let me know and I'll be on my merry way. + +I took 2 trades this week. As per the laws of the universe, my first ever live trade was a bust, annihilated by a full day's ATR worth of reversal. I lost 1.78%. + +Second trade went better, ended up taking 3.55% and finishing the week up 1.67%. That's about 4AUD. + +It was largely a boring affair, and I made a small adjustment to my process. + +Having real money on the table, even if it's only 4 bucks, has actually helped me be much more focused this week which has been cool. + +Anyway just wanted to share, feel free to ask whatever, I don't think two live trades make me an expert but hey. + +Cheers. +Hi all, I am retired and want to develop a dividend income stream to add a little something extra to what I will receive from social security. + +What mix of funds do you recommend? JEPI, XYLD, SCHD are some I see often.. +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! + +It is my understanding that the main reason for social security was to create a fail safe during recessions so that there are a group of individuals that will still have money to spend during a recession. This acts as a last defense so there is still some buying power in the economy. + +My job allowed me to see all the ways the one time payments and $600 a week boosted the economy that would have otherwise stalled. It was working exactly as needed right up until inventory ran out. I didn't see inflation/prices start to rise until inventory shortages caused by the pandemic messed with supply and demand which brings me to my question. + +Could having a policy/law tied to the yield curve that triggers a vote in Congress to implement temporary federal unemployment/one time payments act as a recession safeguard similar to how SS acts as a depression safeguard? +"Thirty-two percent (32%) of American adults believe the U.S. economy is getting better while 26% say it is getting worse. The rest aren’t seeing much change in either direction." + +Most people don't think the economy is getting better. + +Are they misinformed, or do they have a different idea of good, or what? + +Is the economy really getting better? + +What different ways are there of evaluating it? +Pretty open ended question. I remember a lot of discussion around this a few years ago and that seems to have died down and possibly replaced by UBI as the next big poverty beater. Was the idea disproven or shown to not work? Looking for more recent discussions/answers or even examples of successes failures than seems to be out there right now. Thanks! +Let's learn from other people's mistakes. What's the *most* insane or nuts thing that someone you know has done financially? + +For me, my brother is actively planning to remortgage his house so he can stick the cash in a savings account. Just a regular 0.5% savings account. He's convinced this is a great move as he'll have "savings". + +So what have the people in your life done, financially-speaking, that left you rubbing the bridge of your nose? +[Original post](https://www.reddit.com/r/UKPersonalFinance/comments/7y3vp1/i_won_1_million_and_feel_completely_out_of_my/) + +I promised after all of the advice that I got with my original post that I'd provide an update. I apologise that it's been a little while, but as you can possibly imagine it's been a little bit of a wild journey for me. Sorry if this is a bit long. + +The first thing to say is that Camelot have been fantastic. I was worried that they would introduce me to financial advisors pressuring me into buying lots of products that I didn't understand. I could not have been more wrong. + +The man from Camelot really stressed the importance of taking things at my own pace. He got me in contact with someone at my current bank who set up a "hidden" bank account for me that wasn't visible to the branch network, and the money got deposited in there. He also arranged a meeting with some representatives from other banks and funds who could offer advice and services. They were really good at just clearly laying out what their products or services were without any hard sell, and again emphasised taking my time and thinking things over. + +Because I had questions about giving money to my Mum anonymously, I was also put in touch with a solicitor with specialist knowledge in the area of gifts and inheritance. She was really nice, and said that it's common that people want to keep their win secret but help put family members, but explained that large anonymous cash gifts just attract suspicion from a tax and law enforcement perspective, and so practically there wouldn't be a good way of doing it without telling Mum. She also helped me write a will, which felt very weird but also means Mum will be sorted if anything happens and that I won't be inadvertently helping Dad drink himself to death. + +I then spent a month going through various sources of information and making a plan. I bought a couple of books (Graham and Hale were the best reads, thanks for the suggestions), and poured over posts here and on moneysavingexpert. I reviewed my budget and decided to keep it the same essentially for the time being. I also think I must have logged into my online banking at least 3 times a day for that first month just to make sure I wasnt dreaming! + +Then I got to work putting my plan in action. + +I put an amount equal to my living expenses for the remainder of my time at uni in a high interest current account, and have cancelled my maintenance loan. I have decided to continue to receive my tuition fee loan, and not to pay off my loan early because my understanding is that unless I make it big time in journalism I'm unlikely to pay back the full amount before it's written off. I can always review the situation later and change my mind if I get lucky (again). + +I decided not to buy any property yet. I don't have any sources of income that would explain how I could afford a deposit, let alone a full property, without arousing suspicion. I'm also now in my final year and have a lot to think about in terms of finals, and going through the additional stress of house hunting doesn't seem appealing at the moment. Also I don't know if I'll end up working in the same location as I'm currently studying. Once I finish uni and get a job (hopefully), then I plan to buy somewhere. I figured I can always pretend that I'm renting it if people ask. + +I lied to my Mum and told her that I'd won a package holiday for 2 to somewhere she's always talked about wanting to visit, and took her on said holiday in the summer break. It was awesome, and she had the time of her life, but I also found it really hard lying to her, and almost told her a couple of times. I think this will continue to be one of the most difficult aspects that I will struggle with over the coming years. + +Dad got pissed off that I didn't ask him to come on holiday instead of Mum, despite the fact that I'm not sure he's even got passport, and now he's refusing to speak to me. I hope he'll come round, but it makes me feel a bit better that I didn't decide to give mum cash because based on how he's acted I think he'd definitely be trying to get some of that out of her. + +The rest of the money has gone into Vanguard index trackers, with the maximum allowance in an S&S ISA and the rest in a regular account. I plan to finish uni, and then hopefully get a job, and I'll give myself a withdrawal of up to 3% each year if needed. My thinking was that this will be especially useful in the first few years out of uni while I'm likely to need to be in unpaid/low paid internships or freelancing. + +One thing I can recommend to anyone in a similar situation is counselling. I've been wrestling with feelings of guilt since the win. It's difficult seeing Mum renting a shitty flat when I know I could help her out, it's hard for me to accept that I now have an unfair advantage in my job hunt outside of university because unpaid internships are now an option for me, and I just generally feel I've done nothing to deserve this money. My university offers free counselling, and it's been a real help having someone to talk through things with and help me identify and work on addressing these negative feelings. Even if I had to pay for the service, I would. + +Again, I apologise for the length, but hopefully this is the sort of update people were looking for. I'm happy to answer more questions if people have any, although they may have to wait until the morning... + + + +Happy 4/20 Apes! + + +Here is my (now) weekly update on the ongoing transformation. + +New product types now available at Gamestop!!!! This is a big one..... + +**VIZIO TV'S AND SOUND SYSTEMS!** + +https://preview.redd.it/lad4zzwv7du61.png?width=1082&format=png&auto=webp&s=84a1208de1ab108fc63e7a73f74813b522f45f8a + +**DIGITAL CAMERAS** + +https://preview.redd.it/v7229igb7du61.png?width=1055&format=png&auto=webp&s=72c9725586bf5fcb25f50d8f6615b6c45b0f583a + +&#x200B; + +**Smart home devices including mood lighting! (they have added more than just Nano Leaf. Philips Hue products are now on the menu which I will be buying more of. I love these bluetooth lights!!!** + +&#x200B; + +https://preview.redd.it/sd1vutak7du61.png?width=1099&format=png&auto=webp&s=c88ce22bed13a0f140222b6fd68b80a7b121cb3f + +**Motion sensors and Electronic Padlocks:** + +&#x200B; + +https://preview.redd.it/mygvtyjp7du61.png?width=1076&format=png&auto=webp&s=1e610a09afa835f1e2b72f2f3b39aa09246e40ad + +**Jabra and more non-gamer headphones.** + +https://preview.redd.it/c2ru0zl38du61.png?width=341&format=png&auto=webp&s=6d8d489c92308b941094ecc1316c898f3d47fe9c + +**COSTUMES!** + +[That's it for this weekly update. The air purifiers and medical grade eqeuipment blew my mind over the weekend. These adds confirm that they are adding new stuff every week. The date on the Philips launch looks like yesterday, 4\/19 in stock. Buy stuff from GameStop and support your favorite Stonk!!! BRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRR](https://preview.redd.it/tu1h39a88du61.png?width=1066&format=png&auto=webp&s=eaa41b5adc7de3ff53674f7e43b579a78669d77e) + +Rocket Emojis, 4:20 Missing Leaf Emojis VERRRRY NICE! +They were at $350 before their pandemic dip, so they have gone up nearly 60% from where they were before the pandemic. + +I understand demand has likely gone up, and more people are streaming now with nothing else to do, but did they gain 60% more subscribers in that time frame? Unless I'm missing something, they don't make money the more someone watches if they were already a subscriber, they don't have ads. + +I understand markets are forward thinking or whatever, but there are so many streaming services now which own the rights to popular shows that Netflix currently has but likely lose once the contracts run out. + +What numbers do they need to report to justify this drastic jump? +This is a general Superstonk daily discussion thread. Please keep the topics related to the content of the sub. + +\--- + +These links will take you to the [**Mega Thread**](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22MEGA%20Thread%20%F0%9F%92%8E%22) or [**Due Diligence / Deep Dive**](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22DD%20%F0%9F%91%A8%E2%80%8D%F0%9F%94%AC%22) flair filter. + +Check out our [**flair system**](https://www.reddit.com/r/Superstonk/comments/mrwirc/updated_about_and_menu_flair_directory/), which is easily accessible via the sidebar button widget on desktop or the About menu on mobile. We are currently working on more ways to make DD the prominent focus on this subreddit. + +\--- + +# [OFFICIAL AMA - DOMO CAPITAL](https://www.reddit.com/r/Superstonk/comments/mtnian/official_ama_justin_dopierala_founder_and/) - 4/20 @ 4:20 p.m. CT + +[**SuperstonkBot is now live for anonymous posting**](https://www.reddit.com/r/Superstonk/comments/mtc3rb/superstonkbot_is_live_whistleblowers_welcome/) (with review) + +\--- + +**Want to learn more?** [**Check out our extensive Wiki**](https://www.reddit.com/r/Superstonk/wiki/index) **and** [**FAQ**](https://www.reddit.com/r/Superstonk/wiki/index/faq) + +Please review the [**Superstonk Rules**](https://www.reddit.com/r/Superstonk/wiki/index/rules) before commenting or posting on r/Superstonk. + +*Daily discussion threads are created at 4:00 a.m. EDT* +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. +> The U.S. economy offers more stable growth and American securities promise more secure cash flows and yield than a globe beset by woes like the coronavirus. + +> Among the winners is the Vanguard Mega-Cap Growth ETF, made up of large companies viewed as having the most reliable future growth and profitability in this uncertain times. + +> But valuations and strange moves in speculative-growth stocks like Tesla could be raising some red flags. + +https://www.cnbc.com/2020/02/15/investors-are-flocking-to-the-largest-us-growth-stocks-as-concerns-rise-over-the-global-economy.html +Going to be a bloodbath this week. Anyone changing their investment strategies in light of the new deaths in Korea and Italy ? + +Edit: 5% + +Edit: 5.8% + +Edit: 6%!!!!!! + +jesus fucking christ ASX200 down 7.33% at close +I've noticed that whether looking within a country or between countries, the warmest regions are usually the poorest. Some examples: + +A) The Deep South in the US + +B) The Deep North in Australia + +C) The Mediterranean countries in the EU + +D) Equatorial Africa is poorer than North Africa and South Africa + +E) Central America vs. Mexico + +F) Brazil is poorer than "Southern cone" countries such as Chile, Argentina, and Uruguay + +This pattern isn't true everywhere (for example, North vs. South Korea), but it seems to be true for most of the world. Is there an economic reason for this, maybe related to natural resources and/or agriculture, or is it just a coincidence? + +Every time there is a correction you guys go crazy. Just sit back and relax and don't get too influenced by the fresh meat in here. This correction is normal and well anticipated, come on. You all know it well and are just spreading false panic. I'll be buying your ether anyway +This is a Masterclass in seizing the moment, and here’s why: + +This is a speculative based approach to business psychology in a unique and evolving market that is rooted in logic stemming from a few decades long subjective experience. TL;DR for this paragraph - This ape thinks this makes sense based on logic and experience. + +First, they wait for earnings, so they can publicly state in their earnings docs that they see what is going on with their stock, and the price of the stock. This is important for two main reasons: + +1) They are publicly stating that their stock has severely high SI - or at the very least, considerably high SI. + - there was a great DD by u/BeanDaddyMac soon after that analyzed the language used which can be found [here](https://www.reddit.com/r/wallstreetbets/comments/mbtpwa/with_regard_to_the_theyre_just_defining_a_short/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) and found that the terms ‘short squeeze’ and other terms of like kind and quality were used in less than 1% of all earnings statements in at least the past five years. Bullish. And also sets them up to revise their plans to sell stock, as we saw by their statement on 4/5. + (Edit: big thanks to u/Old-Lawfulness-8923 for finding the DD) + +2) They are communicating to a rabid, loyal, and large fan base that they are aware how important this short squeeze is for them. + -Think about it, if you’re in the driver’s seat of a business with a well known name, and that business happens to be video games and accessories, and you have hundreds of thousands - if not millions of people all over the world who are challenging a corrupt financial system, but are potentially going to be very rich, and a large majority of them are gamers themselves - why would you not stoke and caress that flame tactfully, subtly, and effectively, to ensure that loyalty for A LIFETIME BASE OF PATRONAGE AND FREE ADVERTISING. + Yes. Lifetime. Apes, if rewarded, will absolutely damn near guarantee that GameStop will prosper for decades. They know this. And they are gingerly communicating that, and with all these wrinkle brains and peer based review and communication, they knew the people of this sub would catch on. It’s possible that they have wrinkle brains that rival or exceed the ones who have written such amazing DD here. + +Look at the T-Shirts GameStop is selling. Subtle ways to tell the diamond handed apes “we are thinking about you” but also in a way that would not be manipulation. GameStop is LONG ON THEIR OWN COMPANY, what better way to do it by seizing this amazing and fortuitous situation they’ve found themselves in? Not only are apes buying T shirts, but they’re profiting off sending a cryptic message + +It is a certainty that they are following these Reddit posts as much as the most fervent ape refreshing every second for DD. Why wouldn’t they? It’s an easy way to get an insight into their image so they can stay ahead of the curve. Ryan Cohen and his team are responding to apes on Twitter by liking comments. Even their social media posts have caused us to don the tin foiliest of hats to decipher hidden messages. The more GameStop reaches the front page, the more free ads they get. Who cares about the boomers that watch CNBC, who are silent during good news and hyenas during bad news? They’re typically not the customer base of GameStop. + +The news today revised something that was already in place - which the numbers point to being very bullish as well. Instead of 6+ million shares, they reduced it to 3.5 M. Instead of raising 100 M, they’re now at a billion. Simple math, fewer shares, more money = do I even have to explain? AND they can do this at their leisure - even during a squeeze, and can do it in small batches whenever they choose. Knowing that they’re looking out for us Apes, we Gucci when it comes to this share offering. + +They’ve had to walk a tightrope, as news hits on rule changes from the very system in charge of their manipulated stock price. They’ve had to overcome potential plants within their own board of directors. They’ve had to watch their company be front in center of congressional hearings with ramifications that span far greater than just the video game industry, all while taking a company that less than a year ago was on the verge of bankruptcy with a stock that traded at less than four dollars per share. + +What GameStop is doing is taking these series of moments, and under the direction of some incredible, customer focused, business minds, are tip toeing on the blade of a knife from the throws of bankruptcy, through a fraudulent manipulation of the valuation of their company, appeasing millions of loyal followers who are the infantry in a war in which the scope is far greater than their industry and business operations, and transitioning into becoming a power house in a rapidly growing e-commerce world and ever growing video game market. + +Do you hear that? It’s the sound of angels weeping as the simulation is rising in crescendo. For all we know, GameStop could be responsible for where the simulation truly started. After all, with lifetime loyal customers and insane potential, how logical would it be if a company based in video games was responsible for cracking the code in twenty, fifty, or a hundred years? Who knows how far GameStop will grow, because last I checked, Amazon started as a book company, right? Look at them now. + +Edit 2 - some wording, and I appreciate the sentiment in regards to this post as much as I appreciate this amazing community. Buy and HODL, none of this is financial advice. + +🚀 💎 🙌 🦍 +I still have a long way to go to break even but loving the trends. Took a lot of hard work and figuring out my inner self but I've made major progress over the last 4 months. It isn't much but it's something. + +https://preview.redd.it/vujnrvjk2g471.png?width=2785&format=png&auto=webp&s=ad973396d36e23cb480d329dfcc3e61a7f20c4f3 +u/Peruvian_Bull + +Links to his DD on this: + +[https://www.reddit.com/r/Superstonk/comments/o4vzau/hyperinflation\_is\_coming\_the\_dollar\_endgame\_part/](https://www.reddit.com/r/Superstonk/comments/o4vzau/hyperinflation_is_coming_the_dollar_endgame_part/) + +[https://www.reddit.com/r/Superstonk/comments/o4w45f/hyperinflation\_is\_coming\_the\_dollar\_endgame\_part/](https://www.reddit.com/r/Superstonk/comments/o4w45f/hyperinflation_is_coming_the_dollar_endgame_part/) + +[https://www.reddit.com/r/Superstonk/comments/qassc0/hyperinflation\_is\_coming\_the\_dollar\_endgame\_part/](https://www.reddit.com/r/Superstonk/comments/qassc0/hyperinflation_is_coming_the_dollar_endgame_part/) + +Anyways, it's always cool when one of our DD writers nails it months (or in this case a FUCKING YEAR PLUS!!!) in advance and we can see all the idiots on TeeVee talking about how "nobody could have seen this coming!" while we just sit here and are all Leo DiCaprio meme "I READ THAT DD!!" + +If the bull makes his/her own post on this or comments on this one, make sure to upvote them! + +EDIT: the bull's post is LITERALLY right next to this one in "NEW" right now. AHAHAAHAHAHAHAHAHA. Also, get fukt hedgies, can't fight this level of synchronicity autisticallyismness. +***EDIT:*** *I'm adding some DO-NOT-MISS comment links at the top here:* + +* u/throwawaylurker012: + * [*https://www.reddit.com/r/Superstonk/comments/t6qk52/comment/hzd6a5n/*](https://www.reddit.com/r/Superstonk/comments/t6qk52/comment/hzd6a5n/?utm_source=share&utm_medium=web2x&context=3) + * [*https://www.reddit.com/r/Superstonk/comments/t6sjl3/comment/hzd5eyl/*](https://www.reddit.com/r/Superstonk/comments/t6sjl3/comment/hzd5eyl/?utm_source=share&utm_medium=web2x&context=3) +* u/CruxHub: + * [*https://www.reddit.com/r/Superstonk/comments/t6qk52/comment/hzdjlyb/*](https://www.reddit.com/r/Superstonk/comments/t6qk52/comment/hzdjlyb/?utm_source=share&utm_medium=web2x&context=3) +* u/JustBeingPunny: + * [*https://www.reddit.com/r/Superstonk/comments/t6qk52/comment/hzcqq8h/*](https://www.reddit.com/r/Superstonk/comments/t6qk52/comment/hzcqq8h/?utm_source=share&utm_medium=web2x&context=3) +* u/eaglekeep3r: + * [*https://www.reddit.com/r/Superstonk/comments/t6qk52/comment/hzd742g/*](https://www.reddit.com/r/Superstonk/comments/t6qk52/comment/hzd742g/?utm_source=share&utm_medium=web2x&context=3) + +&#x200B; + +# = = = = = = = = = = = = = = + +***\*\*\*ORIGINAL POST BEGINS HERE:\*\*\**** + +# CALLING ALL WRINKLE BRAINS: + +**Considering all the recent findings/discussions around Leverage, Equities, and Derivatives,...** + +* *Recent Example:* u/JustBeingPunny\*'s post from a few days ago\* [*\[HERE: "CITADEL ARE LEVERAGED TO THE TITS...."\]*](https://www.reddit.com/r/Superstonk/comments/t4gxzp/citadel_are_leveraged_to_the_tits_900_billion/) + +...**the fact that Kenneth C. Griffin + Citadel just created "Citadel International Equities" is very likely a significant development that will provide new avenues of investment & revenue fuckery for Citadel...** + +&#x200B; + +# NOTE: WEN ANNOUNCE, CITADEL?: + +* ***Not a single news/PR release has been made about this brand new "Citadel International Equities" group (***[***Google Search Shows "No results found"***](https://www.google.com/search?q=%22Citadel+International+Equities%22&biw=1600&bih=839&tbs=sbd%3A1&tbm=nws&ei=sVwiYtH6LtmbptQP46-48A8&ved=0ahUKEwiRl56Xja32AhXZjYkEHeMXDv4Q4dUDCA4&uact=5&oq=%22Citadel+International+Equities%22&gs_lcp=Cgxnd3Mtd2l6LW5ld3MQAzIFCAAQgAQyBggAEBYQHjIGCAAQFhAeMgYIABAWEB4yBggAEBYQHjIGCAAQFhAeMgYIABAWEB4yBggAEBYQHjIGCAAQFhAeMgYIABAWEB46BAgAEENQswdYnA1g5w9oAHAAeACAAVWIAeABkgEBM5gBAKABAcABAQ&sclient=gws-wiz-news)***), by either Citadel or any M$M outlets they $peak to***... +* ***Which I SOOOO FUCKING HOPE means Kenneth C. Griffin wasn't ready to announce this to the world yet. ;)*** + +&#x200B; + +**The details I've collected so far are below- somewhat thin, but I'd rather not waste time alerting the wrinkles to this :)** + +[*^(https://i.redd.it/q52pyfqd0hl81.png)*](https://i.redd.it/q52pyfqd0hl81.png) + +https://preview.redd.it/pitz03urhfl81.png?width=3104&format=png&auto=webp&s=c9e754c9ad35415c7599d85fb913d15a3cbe73ff + +# = = = = = = = = = = = = = = + +# + +# "Citadel International Equities": + +* **"Citadel International Equities" (CIE):** + * Was not listed on Citadel's "Investment Strategies" page until Feb 28, 2022: + * Old page: [https://archive.is/K9GL8](https://archive.is/K9GL8) New page: [https://archive.is/qW8va](https://archive.is/qW8va) + * Page modification timestamp (Feb 28, 2022): + +https://preview.redd.it/ylehatzxqel81.png?width=1316&format=png&auto=webp&s=664f189c59d677ca417325d7bd8fa79a9c981932 + +* **Live CIE page:** + * [*https://www.citadel.com/investment-strategies/citadel-international-equities/*](https://www.citadel.com/investment-strategies/citadel-international-equities/) +* **Archived CIE page:** + * [*https://archive.is/5PZjB*](https://archive.is/5PZjB) +* **CIE Headed by:** + * Sean Salji + * *Live page:* [*https://www.citadel.com/leadership/sean-salji/*](https://www.citadel.com/leadership/sean-salji/) + * *Archived page:* [*https://archive.is/ojThg*](https://archive.is/ojThg) +* **Opening page copy:** + * *"****Established in 2022****, Citadel International Equities (International Equities) is a multi-manager equities business comprised of the firm’s equity operations in Europe and Asia. The business is run out of London, with leadership and central operations teams in both Europe and Asia. \[...\]"* +* **Video interview posted 2 days after CIE page went live:** + * Citadel added a new page to their "Industry News" section: + * **Title:** *"What is the history of the derivatives market? March 3, 2022"* + * ***Stephen Berger***\*: Global Head of Government & Regulatory Policy\* + * ***Heath Tarbert***\*: Citadel Chief Legal Officer, speaks with Stephen Berger\* + * Live page: [*https://www.citadelsecurities.com/news/what-is-the-history-of-the-derivatives-market/*](https://www.citadelsecurities.com/news/what-is-the-history-of-the-derivatives-market/) + * Archived page: [*https://archive.is/evLWB*](https://archive.is/evLWB) + * Possibly a relevant entry to time up w/ the newly established group- this video interview may be Citadel seeding plausible reasons to be starting CIE right now to their investors + * Video itself: + +&#x200B; + +* **CIE Job Listing "International Equities Associate":** + * Live page: + * [*https://www.citadel.com/careers/details/international-equities-associate/*](https://www.citadel.com/careers/details/international-equities-associate/) + * Archived page: + * [*https://archive.is/1nk10*](https://archive.is/1nk10) +* **Google search showing the only CIE web result from** [**Citadel.com**](https://Citadel.com) **is from Tue March 1, just 3 days ago:** + * [*^(https://www.google.com/search?q=inurl%3Ahttps%3A%2F%2Fwww.citadel.com%2Finvestment-strategies%2Fcitadel-international-equities%2F&biw=1600&bih=839&source=lnt&tbs=cdr%3A1%2Ccd\_min%3A1%2F1%2F2000%2Ccd\_max%3A3%2F4%2F2022&tbm=)*](https://www.google.com/search?q=inurl%3Ahttps%3A%2F%2Fwww.citadel.com%2Finvestment-strategies%2Fcitadel-international-equities%2F&biw=1600&bih=839&source=lnt&tbs=cdr%3A1%2Ccd_min%3A1%2F1%2F2000%2Ccd_max%3A3%2F4%2F2022&tbm=) +* **Google search specific to** [**Citadel.com**](https://Citadel.com) **showing only 4 CIE mentions on the entire domain:** + * [*^(https://www.google.com/search?q=site:citadel.com+%22Citadel+International+Equities%22&source=lnt&tbs=li:1&sa=X&ved=2ahUKEwjqw)*](https://www.google.com/search?q=site:citadel.com+%22Citadel+International+Equities%22&source=lnt&tbs=li:1&sa=X&ved=2ahUKEwjqworEga32AhXDN30KHVTDBg0QpwV6BAgBECA&biw=1600&bih=839&dpr=1.8) + +&#x200B; + +# "Citadel Global Equities": + +* **As noted, CIE is NOT the same as CGE** +* **Headed by:** + * Justin Lubell +* **Live page:** + * [https://www.citadel.com/investment-strategies/citadel-global-equities/](https://www.citadel.com/investment-strategies/citadel-global-equities/) +* **Archived page:** + * [https://archive.is/5exaT](https://archive.is/5exaT) +* **Opening page copy:** + * *"****Established in 2001****, Citadel Global Equities (CGE) is Citadel’s founding fundamental equities business. CGE brings together the leading minds from across six primary investment sectors ranging from Consumer to Energy to Healthcare. Within CGE, our Primary Strategies team supports corporate capital formation by investing in initial and follow-on issuances of stock."* + +&#x200B; + +**Side by side of each live page:** + +https://preview.redd.it/irsh7sq6mel81.png?width=3624&format=png&auto=webp&s=884f7e8e0620ea8ca651318e3aedf70f7735ebc5 +https://twitter.com/martinslewis/status/1334185560882229250?s=21 + +> I'm very concerned about the growth of Buy Now Pay Later. It's exploding like payday loans did. And like payday loans were, it's a huge credit industry that's unregulated - so few rules, and you can't go to ombudsman. That must change. Amend the fin services /regulation bill. +I know the $AMC narrative is retail vs hedge funds ONLY. + +But look at [flow](unusualwhales.com/flow) on June 2nd: you'd see whales making million dollar plays all day. + +Or a ten million dollar $AMC call: https://unusualwhales.com/alerts/c9e60810-708c-4d01-90a0-f81f49e0e343 + +Think that is retail? + +They love squeezes, too. + +Look out for large whales making big plays after these last two weeks! +It shall be interesting to see how the market react to this and whether it will just shrug it off. + +The price has dropped a little in after hours, but is still up 2% at time of posting. + +https://www.cnbc.com/2020/09/01/tesla-to-sell-up-to-5-billion-in-stock-amid-rally.html +I'm in SoCal and woke up to 6 notifications for houses I marked as favorites that had price reductions. $8-$30k in reductions. Also seeing a lot more new listings that are actually coming in priced well. I expect this to continue through the winter as no one is usually moving during that time. + +Where are you and what are you seeing? +Some background, my family is very well off (in the 8 figure range to be specific.) And my dad has always told me that he wants me and my brother to have a great life and not have to worry about keeping the lights on/food on the table and he will leave a fortune behind for us for that reason. However, I feel just weird about it. Knowing that many other people would kill to be in my position and I just feel guilty for some reason. What If I can’t have the same success as my parents had? And also, for the parents reading this, How do you feel about leaving a loaded inheritance to your kids? Do you ever worry they won’t work hard enough? Not being able to handle it? +I know most people wouldn't believe me and hate, try tosay its impossible and say I would become a billionaire at this rate etc, but there is just not enough liquidity, yes I can make a lot of money but up to a point when liquidity is limited and slippage would occur. + +I risked around 3% per trade, average reward would be 4-5 times my losses and won around 70% of my trades, very rarely had a losing week. + +I just want every single one of you grinding to know that it is possible, the starting is very slow, I recomend using a higher balance as starting out, 5 figures would be nice. But it's doable. + +WORK ON YOUR PSYCHOLOGY!! If not no matter how much work you put into your strategy, you can't pull it off. I've spent around 1.5 studying, at least 8 hours a day, for that amount of time, before I became profitable, read every single psychology book I could find, tested every strategy one by one, it felt like shit some days, but I had a dream and it was to get rich, I'm not rich yet, but am confident I can retire in a few years. + +And no, I do not risk more than 3% on a single trade so don't say I'm risking too much etc. + +What I did is definitely not an incredible feat, a ton of people have done it but very rarely you get them to talk about it, or they couldn't be bothered to post in random forums, they would get shoot down anyway right? But here and there, there are a few. +I’m a maths teacher and find the job not so fun as I thought it was. + +What industry can I crack into? I heard about IT helpdesk roles. Some reading said NDIS related roles too. + +Focus is work life balance. Leaving at end of shift and less stress. + +Teach Maths, Sydney, currently $74000 pa and $89000 pa mid next year. Got an accounting bachelor degree too. +In March of 2018 I bought the LG GS-L668PNL fridge for **$1498**. That was the retail price at the time. The same fridge is available now at many retailers for an RRP of **$2099**. ([example](https://www.thegoodguys.com.au/lg-668l-side-by-side-refrigerator-gs-l668pnl)) + +Is this COVID related? The price of the same fridge has increased by 40% from 3 years ago! + +Should I start investing in fridges now as an appreciating asset? +Throwaway account + +I am a 40-year-old real estate developer and builder in the midwest. My company does approx $50 Million in revenue with a net profit of approx 12%/year after corp taxes. + +A lot of that net profit is reinvested in land for future projects and a diversified portfolio of multifamily and industrial real estate. Income from properties is around 800k/year after tax. $4.5Million in equities, cash & bonds. + +Over the last year, I have been working on a tech startup that I believe has the potential to revolutionize a construction process used in around ~~3 Billion~~ 300 Billion worth of construction annually in the US. I have invested around 400k of personal capital thus far in building the prototype and around 50k more on patent attorneys etc. I am at the point where to operationalize the new startup I would need to spend around 2.5 Million on building or buying the manufacturing facility as well as around $1Million on the operating costs for the first year. I expect the business to be profitable by year 2. + +I am looking for advice on how I should be thinking about remaining private vs raising outside capital? It seems like the typical "startup" goes the VC, Angel Investor, Seed Round, Series A, B, C... route. + +The typical startup doesn't have access to their own capital though. I also have good relationships with middle-market banks that I could borrow funds from (although those would carry personal guarantees). I have very high conviction that this concept will work and my development/building business would be the new startup's first customer - thereby reducing some of the risk. + +In the private business world I have always operated in, profit is king. It seems that the calculus is different for startup companies and more value can be unlocked by bringing in outside investors and giving up some equity. + +Any insight on how to think about this? + +Thanks in advance + +&#x200B; + +Edit 1: Made the biggest typo of my entire life. 3 Billion should have been 300 Billion. + +Edit 2: Additional context: There have been a couple comments inquiring as to how a construction company is supposed to be a tech company? It is not a SAAS solution. It is however combining a somewhat novel software component with a completely novel hardware/manufacturing component. +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! +PLEASE REFER TO UPDATES. UPDATED SITUATION TITLE IS NO LONGER ACCURATE. + + +IT TURNS OUT I AM AN AUTHORIZED USER IN REGARDS TO HER BAD CREDIT. I OWE A LOT LESS THAN 30K NOW IF I AM REMOVED. + +I'm sorry if this is a bit long or unclear, this is my first time posting here and I'm not sure where else to go or what to do. + +I am a 22 year old national guard soldier trying to get back into the local university. I just got back from years of training and am trying to I'm to readjust to being a civilian again. I am working part time in addition to regular monthly drills and don't make a lot. I also don't spend a lot and have been putting most of what I make into savings. Filing taxes was fairly easy and turbotax allowed me to check my credit score as I had filed with them. + +I haven't really tackled credit whatsoever before this as I had been an incredibly impulsive person before the military and worried that I'd go out of control with credit. So I didn't touch it and instead developed a healthy habit of saving and budgeting before even considering getting a credit card. I know I was stupid to not regularly check it earlier, but I thought the second best time was to do it now. + +Turns out my credit score is dismally low as there is more than 30,000 dollars of debt in my name which is more than triple of what I have saved up over years. My mother has opened three accounts in my name and while she has been making the minimal payments on time, she's racked up a tremendous amount of debt. Some of the cards were opened as early as when as I was 2 years old. + +I have documentation of everything that has happened, with each page of account information saved as PDFs. + +I have spent the past couple of days trying to not panic, I've confronted my parents and am currently looking for cheap apartments so I don't have to live with them anymore. However, I don't know what to do beyond that, really. 30K of debt is enormous and I don't even make that in a year. I don't even know how to BEGIN tackling this. I just know that I'm heartbroken and I feel absolutely betrayed. I never thought my own mother would steal my identity. + +Should I put off college and try to pay it off by working more jobs? Should I stay living with my parents to save on rent? What should I do to tackle this debt and fix up my financial situation so I can move on with my life? I don't want to be my parent's piggy bank anymore. + +UPDATE: Equifax has me quoted at 481. When I opened CreditKarma it asked about a possible home mortgage made in January 2016 that I do not see in my report. I do not have a mortgage. I hope this is a mistake and that there was no mortgage made in my name. The cards that are there have me as an authorized user, thank god. There are still 5.5k in loans, however, and the fact that my mother wants me to pay the student loan that is in her name. Her listing me as an authorized user, however, may still lose me my clearance and thus my job in the military. I will be speaking to NCOs tomorrow regarding what to do next and the status of my clearance. In regards to the years of training (i lost track of your comment I am sorry), I had to learn a new language in addition to AIT. This took two years. + +UPDATE 2: The mortgage thing has been explained. Thank you. I am an authorized user on the two accounts but have never been given a card nor been informed of the existence of these accounts. I have simply been associated with her rotten credit it would seem. I do not know why I am listed as an authorized user as I have signed nothing and have never touched credit in my life until checking my credit a few days ago. I doubt this is reportable to the police, and will be talking to the financial and legal support provided by the military tomorrow. Thank you all for your advice! + +UPDATE 3: A lot of people questioning my military service. Understandable as my situation is strange. I am an E4 35P who has recently got out of TRADOC. AIT for 35P is one of the longest in the army, as it is language dependent and I was required to become fluent in a foreign language. My language course at DLI took a year and a half, and due to financial and familial issues stemming from what I'm detailing right now, I was recycled a few months in and had to start over. It ended up lasting 2 years for me. I have been with my guard unit for two monthly drills now and am still relearning how to be a civilian again. Trying to figure out my credit and how to become independent is also a part of that, and why I made this post. Thank you all again for your replies and advice. I will do my best to read all of your comments and give updates as I deal with this issue. +I know that we are Indians, and patriotism blah blah. But I think its good to hear a case that India isn't going to be the next economic superpower. Lots of people (even big fund managers) make this macro argument. I don't think its true. + +You can see this on my blog at: [https://pradyuprasad.wordpress.com/2019/11/25/the-bear-case-on-india-part-1/](https://pradyuprasad.wordpress.com/2019/11/25/the-bear-case-on-india-part-1/) + +Here's why (same text): + +Some famous international investors like Prem Watsa and Mohnish Pabrai have bought into the India Growth Story (IGS). I feel that the IGS is overhyped, and projections of India becoming an economic superpower are unlikely to happen unless major policy and cultural changes are in place. + +When Prime Minister Modi was elected in 2014, there were projections that he would be India’s Thatcher or Deng Xiaoping. These projections have been untrue. Economic growth in the country has slowed down with Q1 real GDP growth being at 5%, compared to 7.1% in 2018, and 8.2% in 2017. Unemployment according to the Center for Monitoring the Indian Economy a private sector company is 7.5% compared to 5.9% in 2018 and 5% in 2017. Worst of all, real consumption appeared to have declined by 3.7%, for the first time in 40 years according to a [leaked report](https://thewire.in/economy/consumer-sending-fall-rural-demand-nso-report) from the government. + +India optimists like [Bill Gates](https://m.economictimes.com/news/economy/policy/india-has-potential-for-very-rapid-economic-growth-says-bill-gates/articleshow/72094025.cms) have said that the country has significant potential and can get millions out of poverty in the next few years. I disagree. I think that India is headed for stagnation of growth in the long run and the current slowdown is just the first step in it. + +**The contents of the IGS:** + +The history of the IGS can be traced back to a [2003 paper by Goldman Sachs](https://www.goldmansachs.com/insights/archive/archive-pdfs/brics-dream.pdf) and a [2000 analysis by the Brookings Institution](https://www.brookings.edu/articles/india-rising/). It said that with the right policies, India would be a country with \~$3500 GDP per capita in 2030 and $8124/capita in 2040. + +Most proponents of the IGS believe that in the next 30 years or so India will have high (>8% real economic growth), will be an economic superpower with a billion and more consumers. This amazing country will benefit from a demographic dividend, from the [10 million Indians](https://cse.azimpremjiuniversity.edu.in/wp-content/uploads/2019/10/Mehrotra_Parida_India_Employment_Crisis.pdf) entering the job market every year who will find jobs, spend, save and invest. Another part of this story is that there will be massive fixed investment in roads, bridges, and others which will lead to more economic growth. I will now take down the first part of the IGS: the labour myth. + +**The labour myth: Jobs, people (and the lack thereof)** + +It is no secret that India is having trouble creating jobs now. Over the last year unemployment has shot up to 7.5% from 5.9% a year ago. The government attempted to hide this by stopping the release of the NSSO labour survey before the elections, which was leaked to the media. + +A big part of the IGS is this: + +1. Indians will enter the work force +2. Get jobs +3. Spend that money. + +**People? What people? It’s only men here** + +Indians are not entering the workforce. In most developing countries, labour participation rates are between 60 and 80%. The 75th percentile is 67% LPR, and the median is 62%. But India is at at a low 51% (the 13th percentile) with its neighbors being Gabon and Suriname. None of the GS papers or the Brookings piece anticipated this. In a country full of young bright educated (or so they claim) youngsters over half of them stay at home and chose not to go to work. + +See this photo: [https://imgur.com/a/vYPOJdS](https://imgur.com/a/vYPOJdS) + +The standard objection to this is that India’s young are educating themselves.They are building human capital for their future and so this should be excused. This shall be shown to be untrue later in this post series. The lack of participation of Indians from the workforce is not equal across the genders. + +**Almost 79% of males in the working age in India chose to look for a job, but only 21% of females do so.** The male participation rate is within global norms but the female labour participation rate falls laughably short. In fact the only countries which do worse than India in this are Egypt, Morocco, Somalia, Iran, Algeria, Jordan, Iraq, Syria and Yemen. It is worth noting that 3 of those countries are undergoing wars -Yemen, Syria and Iraq, 2 of them have mass protests against the government – Iran and Egypt and Somalia has a joke of a government. India is among the **worst** globally here. But why does this indicator matter? After all who cares about this number?\* + +I think you should, if you care about the health of the Indian economy. If India were to have normal (\~40%) labour participation rates with average incomes ($1900) each then there would be at least an approximate 156 billion USD\*\* (6%) boost to the economy. Moreover around 80 million women are sitting at home when if we had better education, and social norms that allowed for it. You don’t have to be a radical feminist to see what a waste this is to the economy. There are 80 million women at home, not working. They would if they were born in the US, Germany or Taiwan. + +**You should care because the demographic dividend may not even happen if half the country isn’t participating in it. The projected ‘dividend’ isn’t happening** **if half the country doesn’t work.** + +\*If that doesn’t piss you off enough, here’s this: Pakistan beats India by 1 percent. It has a female labour participation rate of 22%. + +**\*\*My analysis is an ESTIMATE. This is a back of the envelope calculation. I’m not an economist.**67% of India is in the working age (15-64). That is 897 million people. 48% of these are women. That is 430 million women. Only 21% of these chose to participate in the labour market. That means that there are 90 million women in the labour market today. I’m going to assume they ged paid the per capita GDP rate which is 1900 USD. Which means if these women earn the average income, they earn 171 billion USD. If more (\~40%) of women participated then we’d have 170 million women in the workforce. If they too get paid at the same pay they’d get make 327 billion USD. This is 156 billion USD more than what they are earning now. The India economy is 2.59 trillion USD. 156 billion is 6% of that. And this doesn’t count for the multiplier effect from the spending, the fact that women usually spend more on their children (when given cash transfers) which means a higher long run growth rate, and the social effects of this (lower family violence, lower birth rates). + +Edit: u/[g0dfather93](https://www.reddit.com/user/g0dfather93/) asked if I was contradicting myself when I said that unemployment is high AND that having more women participate in the labour market would increase economic growth. I should have been more clear in this. I think that when we do get back to normal aggregate demand conditions (with a healthy banking and non banking sector), the low LFPR for women will make India grow slower that it would with a higher one. +Apologies for calling out /u/criand. I admit I was wrong. T+35 only applies to "*deemed to own*" as specified here: + +[https://www.sec.gov/investor/pubs/regsho.htm](https://www.sec.gov/investor/pubs/regsho.htm) + +>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. + +I *incorrectly* applied T+35 here: + +[https://www.reddit.com/r/Superstonk/comments/op6rji/macd\_cross\_and\_450k\_ftds\_due\_thursday\_these\_are/](https://www.reddit.com/r/Superstonk/comments/op6rji/macd_cross_and_450k_ftds_due_thursday_these_are/) + +&#x200B; + +**However** with the final RegSHO 204 theory intact and if regulations are worth any of their salt, I nod at **HODL'ING SHARES**, and wait it out. And DONT PULL A WARDEN (yolo weekly options = death, DO NOT DO IT). + +The main RegSHO theory/posts can be found here: + +[https://www.reddit.com/r/Superstonk/comments/oao9oo/the\_nyse\_threshold\_list\_collapsing\_shorts\_and/](https://www.reddit.com/r/Superstonk/comments/oao9oo/the_nyse_threshold_list_collapsing_shorts_and/) + +[https://i.imgur.com/kUf3LGD.png](https://i.imgur.com/kUf3LGD.png) + +This all relies on 7/16 hide the FTDs fuckery with OTM PUT expiration's. So lets see if that part of theory holds true. + +[https://www.reddit.com/r/Superstonk/comments/on9dtz/otm\_puts\_are\_the\_passed\_puck\_of\_short\_positions/](https://www.reddit.com/r/Superstonk/comments/on9dtz/otm_puts_are_the_passed_puck_of_short_positions/) + +[https://www.reddit.com/r/Superstonk/comments/opuziu/visual\_of\_the\_sft\_trades\_to\_prevent\_shorts\_andor/](https://www.reddit.com/r/Superstonk/comments/opuziu/visual_of_the_sft_trades_to_prevent_shorts_andor/) + +Lets see if it plays out next month. I now suspect sideways trading for next two weeks (sell puts to steal premium from HFs if you can afford 100 shares). + +&#x200B; + +**Edit: the test of 7/16's OTM PUT theory will come on T+5 (end of day 7-26)** + +[https://www.reddit.com/r/Superstonk/comments/on9dtz/otm\_puts\_are\_the\_passed\_puck\_of\_short\_positions/](https://www.reddit.com/r/Superstonk/comments/on9dtz/otm_puts_are_the_passed_puck_of_short_positions/) + +The Theory runs on the idea that millions of FTDs were hidden in OTM puts that expired 7/16, with settlement on 7/20 and corresponding T+5 threshold activation on 7-26 EOD. Check NYSE's website on 7-27 for confirmation of this or not. If it is, then GME is back on threshold baby! And we'll know with some greater bias that the number of FTDs will be in the 100 million range before it's released by the SEC. + +Part of the reason why this is a good test is because the volume was so low this past week, there' no way they they could have covered 10 million FTDs let alone 100 million. Also banks no longer allowing the PUT BS to continue unabated as it exposes banks. + +If they manage to kick the can again, then just keep selling far (**edit**) ~~OTM covered calls and steal HF premium.~~ \[selling\] puts if you can afford the 100 share limit strike price. **Perhaps just don't mess with options,** *RC tweeted recently a picture of a toilet, so far the last 3/3 times, toilet humor has lead to a decline in price. But that's another thread of discussion.* + +A massive Monday dip if RC’s toilet thing correlates would make sense in light of Threshold, as Monday would be the make it or break it day for HFs to keep GME off threshold if they can cover the FTDs. + +&#x200B; + +**Edit2: Should have included links to threshold list: thanks** u/GreatGrapeApes + +>Presence on list from previous days, comes out daily: [https://www.nyse.com/regulation/threshold-securities](https://www.nyse.com/regulation/threshold-securities) +> +>Counts released in batches, much later (15 days or more delay): [https://www.sec.gov/data/foiadocsfailsdatahtm](https://www.sec.gov/data/foiadocsfailsdatahtm) + +&#x200B; + +**Edit3: DTC-2021-010 may prevent RegSHO, and** ***LEGALIZE*** **naked short selling through SFTs.** + +This would prevent GME from hitting Threshold list ever again. + +[https://www.reddit.com/r/Superstonk/comments/opuziu/visual\_of\_the\_sft\_trades\_to\_prevent\_shorts\_andor/](https://www.reddit.com/r/Superstonk/comments/opuziu/visual_of_the_sft_trades_to_prevent_shorts_andor/) + +My read on this is that this SFT thing works very much like any other credit swap - think CDS of the housing crisis, arhegos margin call, RRP agreements. Allowing Funds the ability to cover naked shorts with credit swaps. + +OMG, what have you done kenny boi? Forget black swan events, allowing credit swaps on naked shorts, this has now become a **blackhole event**. It'll take longer to playout, but if they weren't holding market hostage before, they are making it blatantly clear they are holding market hostage now. +There are a LOT of posts in new, many making their way towards the front page, about how the Shorts Available to Borrow data that we’ve been looking at for months seems to show that there are very few shares being lent out today. + +Now, of course, this may turn out to be a good thing - and I really hope that it is! But it’s too early in the day to tell. I don’t want apes to get their hopes up based on incomplete data, and I certainly don’t want anyone to fall for the first stages of a potential FUD campaign. + +In short (teehee), SHARES AVAILABLE TO BORROW DOESN’T MEAN SHIT WHEN THEY CAN JUST CREATE SHARES OUT OF THIN AIR TO SELL SHORT. + +We know that they can do this. That’s the whole reason they’ve found themselves in the mess that they’re in. Which means, of course, that THE NUMBER OF SHARES AVAILABLE TO BORROW WILL NOT NECESSARILY CORRELATE WITH PRICE ACTION, IF NAKED SHORTING IS OCCURRING. + +If I was Shitadel, this close to the Gamestop shareholder’s meeting and with a vote count, potential transformation roadmap and NFT news on the cards, I would no longer give a flying fuck about trying to limit naked shorting. I would go ALL OUT. + +And you know what else I would do? + +I would, in tandem with naked shorting the shit out of GME, try every trick in the book to make it look like a natural sell off - including, but not limited to, failing to mark sales as short, flooding reddit (especially wsb) with GME gain porn, and MAKING IT APPEAR AS IF THERE ARE NO SHARES AVAILABLE TO SHORT. + +Now, I may be wrong, and there may actually be no shares available to short - but we have known for months now that the iBorrow data on this is incomplete, and only represents a handful of brokers, if that. Shitadel and co. will certainly be aware that we’ve been tracking it. + +Personally, I’m expecting major fuckery today, just like every day. + +As ever though, if the MOASS doesn’t happen today, it’ll happen tomorrow. And if not tomorrow, then it’ll happen the day after, repeat ad infinitum. It is, after all, inevitable. + +Love to all apes, BUY HOLD VOTE. + +Tldr; shares available to borrow doesn’t mean anything when you can naked short with impunity. Be wary of a potential FUD campaign based around incomplete iBorrow data. BUY HOLD VOTE. + +Edit: For the record, I hope that I’m wrong and the shares available to borrow data really is the canary in the coal mine for the MOASS. However, many previous FUD campaigns have started with a huge swathe of posts on the same topic flooding New, and a little critical thinking never hurt anybody. BUY HOLD VOTE. + +Edit 2: Do not think this post is trying to make people wait for a dip that never comes. Time in the market beats timing the market, after all. I’ve been buying dips, rips, tips and shits for months now. Waiting and trying to time a dip in order to buy is, in my opinion, daft as fuck - especially when we know that the price could take off into the stratosphere at any moment. +I just found out a few days ago when I was trying verify my identity on another website. They kept asking me about mortgages so I went to check my credit and saw I had a bankruptcy. I was only eighteen when it was filed and I'm 23 now so I don't know if I can even do anything about it at this point. It wasn't up there before when I checked last year. There are at least thirteen people under the bankruptcy that my parent owes. Utilities, phone bills, places they rented from, and even places like supermarkets. I don't know what to do. I did call the bankruptcy court, but they told me there was nothing they could do and to go to the credit bureaus to dispute it. I'm just worried about getting my parent in legal trouble, but I also know based on their track record that they might possibly keep racking up apartments and such in my name. They even forged my signature on the documents. My parent put their phone number which they never changed so I know for a fact it's them. I'm honestly scared that I have more debt or bankruptcies that just haven't came up yet since it's their go to plan whenever they get in a bind. I used to get letters from collections from the places listed on the bankruptcy back when I lived with them, but my parent would just blow it off as fake letters and told me to ignore it. They knew the whole time and looked me in my face and lied to me about something so serious. I can't wrap my mind around it at all. I've never been so emotionally numb in my life. They have put me through so much already. Like I don't even know how to process this. +I am not trolling. + +Can anyone truthfully and objectively explain what good a realtor is? + +I’m extremely tech savvy and resourceful with regard to finding the exact info I’m looking for, and quickly. + +Thus, in the age of social media and ubiquitous information, I have found myself better and faster at finding properties than any realtor I’ve worked with. + +That isn’t meant as a dig, just that their (main? stereotypical?) service of providing leads isn’t of any tangible benefit or utility to me. + +Literally the only service that I’ve benefitted from is them opening the door so I can walk through, and in the age of COVID and/or long distance investing, providing the ability to do so via FaceTime (which is legit and something I would struggle to do on my own from afar). + +Is there a whole bunch of behind the scenes paperwork I’m not seeing? + +Is it expected that investors graduate to not using realtors anymore, because realtors are really for people who can’t bother to learn to find their own leads or do their own networking or understand the numbers? + +And I certainly don’t get the “industry standard” 3% of the purchase price. For the same amount of paperwork, a $100,000 property nets $3k in commission whereas a $500,000 property nets $15k? 😳 + +If this ruffles your feathers because you are a realtor, then you’re who I want to hear from because I truly don’t get it. +We are genuinely conflicted. We live in a HCOL. We have been advised that the pricier SFH neighborhoods in the surrounding suburbs weather housing crises very well, and history does show that (of course, doesn’t mean it will always be the case). + +My portfolio, as I’m sure many of yours are, is down ~20% YTD. Housing has stayed strong, and of course rates are up up up. We’ve been looking for a home for the past year and a half. We have one in hand that is in a very desirable neighborhood, we can reasonably afford it, and it’s in very livable condition. The issue is that I’d have to liquidate a significant portion of my equities to pay for the down payment. I’d be locking in those losses, as they say. + +Anyone have advice on how to think about this? Appreciate wise words. Thanks. +I've seen a few posts about non physicians buying into private practices as part of the their FAT journey and I'm very interested in how the logistics work with that, if anyone can elaborate for me. It's an investing strategy that I've never considered because I always assumed it was closed off only for physicians. + +I have about $500K on the side in cash or cash equivalents that I'd be interested in deploying that way. Any information on where/how to get your foot in the door would be greatly appreciated. + +&#x200B; + +P.s. I'm not sure what other sub this should be posted in, so if this isn't the place, delete and point me in the right direction. Thx. +Your markets are run by bots. Now your daily threads are too. + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related.](http://discord.gg/2sQBNuM) +Hi All, + +Find myself in 12k debt due to a new property, currently have £1400 in bank account, 12k on multiple credit cards, no interest yet with the below breakdown + +- Amex - 2000 bill due mid June +- Halifax - £1680 bill due mid June +- sainsburys 24 months 0% card 2 months in - £5525 +- hitachi 0% finance - 17 months 0% 1 month in with £1800 left + +I currently earn £2700 a month after tax with £1700 of outgoings excluding the above. I save an additional £500 a month and use the remaining £500 for expenditure. + +What’s the best way to use the 10k to offset the above, I’m a bit confused on the best way to pay things off, I was thinking to offset the Amex, Halifax and hitachi finance with 2k left on the 0% card. Also in parallel with the £4/500 I save to gradually build up my emergency fund and pay off the remaining 2k on the 0% card, I have some travelling to do this year which will probably cost another 2000 at some point. + +Edit: just an additional bit I missed out, all the debt hasn’t been amassed by me, it’s due to a family holiday where we put around 5k on a card, my mum said that she will pay for it once money was transferred over from a different country which has happened now. Also the money for the debt was due to my parents helping me out with a few issues from the start of having a property, sorry if I missed this info out. The holiday is due to a wedding I need to go to also for a close friend. +Like many others, I was hit by the "bystander effect", betting everyone else would get the job done. The Citashills putting in max effort to make as few people transfer, or only transfer a small amount, in combination with Ken Griffen rage tweeting, it's clear DRS is our move. + +I called TDA, very quick 1-minute phone call. I said I wanted to transfer my shares to Computershare, the lady said she would email me a form I need to fill out and mail to them. Because there's an ink signature, I have to actually MAIL it. Okay, fine. 500 shares coming Kenny boi. + +EDIT: 3:43pm ET - Apes are saying TDA can do it over the phone and I don't need to snail mail it. Looking into it. +Hi everyone, hoping you can help clarify the "traditional 401k or Roth 401k" question for me. + +30 years old- 100k salary. + +1. If I max my contribution this year in TRADITIONAL (let's just round up and say 20k) I will save roughly 30% between state & local taxes, so a savings of 6k. + +In 40 years when I am 70, that 20k will roughly double 4 times based on a 7% rate of return, and +will be worth 160. Let's say I am in the 10% tax bracket at that point, I will withdraw it slowly and +pay a total tax of 16k (10% of the 160k). My net taxes paid are then 16k- the 6k I saved, for 10k +paid. + +2. If I max in ROTH, I don't save anything on my taxes this year, but I can withdraw the entire 160k tax fee. So my net taxes paid are essentially the 6k I did not save in 2021. + +What am I missing? If I do Roth, I pay 6k, If I do traditional, I pay 10k. + +Thank you! + +Edit: Thanks everyone for the excellent info! One thing to consider is i probably would NOT invest the 6k i save every year as that would be added to my emergency fund or for family vacations, so by not investing the savings I think that skews towards ROTH being a little better. +I have tagged this a DD but this is not DD into the company or general market rather this is DD into our culture through meme content and how it plays a vital role to our current situation. I think I am comfortable in labeling this as DD at this point as this battle is psychological, so I feel that having the ability to understand how we are digesting the meme content and what role meme content plays on this sub is important. If a mod wants to change the flair please do so. + +***“Imagine being serious that regurgitated and low effort memes are an actual contribution”*** + +\- *anonymous commenter* + +[Seriously, I am.](https://i.redd.it/g592sugtq7671.gif) + +I think that we are under a new sub attack by shills and this one seems to be focused on **what we need to/should be thinking and focusing on, this appears to me to be the most dangerous attack on our subreddit as it is directly attacking our culture in an attempt to turn apes against each other, and appears to try and dissuade apes from creating fun content and upvoting that content.** + +A couple of things clicked with me following some comments on this sub so I decided to write about this subject so that we can better understand ourselves and hopefully combat this latest attack. I think this is an important thing to be able to do if we are to stay on track and prevent forum sliding, etc. While I don’t want to disclose my full credentials as I do not want to further identify myself, my formal studies are essentially based in critical and creative thinking, cultural studies, arts and writing, etc. Essentially I understand the importance and effect of imagery. + +It may be anecdotal but I have noticed a significant increase in discussion around the topic of memes and if they should/should not be on the front page and yadda yadda. It seems to me there is a concerted effort to try and discredit the use of them and I personally believe that the memes we create are a legitimate threat to the objective of SHFs; at least a meaningful part. + +Just a few questions to kick this off that I want you to think about, I won’t attempt to answer these but I want you to think about them yourself. + +1. Would we have a floor as high as we do without our use of memes? +2. Would we have the members/audience that we do in this sub if we stuck strictly to DD and did not also use humor through the creation of our memes? +3. The US government understands the importance of using memes, why would a forum that has a membership base mostly because of them be trying to distance themselves/discredit their use? + +u/heizungsbauer89 linked to me a document produced by the U.S. Government Entitled: + +[https://apps.dtic.mil/sti/pdfs/AD1052398.pdf](https://apps.dtic.mil/sti/pdfs/AD1052398.pdf) + +**“Exploring the Utility of Memes for U.S. Government Influence Campaigns" by the Center of Naval Analyses”** + +**Abstract** + +*The term meme was coined in 1976 by Richard Dawkins to explore the ways in which ideas spread between people. With the introduction of the internet, the term has evolved to refer to culturally resonant material—a funny picture, an amusing video, a rallying hashtag—spread online, primarily via social media. This CNA self-initiated exploratory study examines memes and the role that memetic engagement can play in U.S. government (USG) influence campaigns. We define meme as “a culturally resonant item easily shared or spread online,” and develop an epidemiological model of inoculate / infect / treat to classify and analyze ways in which memes have been effectively used in the online information environment. Further, drawing from our discussions with subject matter experts, we make preliminary observations and identify areas for future research on the ways that memes and memetic engagement may be used as part of USG influence campaigns.* + +While I do not have too much time to get into the nitty gritty of every part of this document it has some key notes I have provided here: + +*The effective use of visual memes is not limited to counter-radicalization efforts. While memes certainly have utility in that area, they have also been deployed productively in response to terrorism more generally, to disinformation campaigns, and to government censorship.* + +*• The range of visual memes being deployed in memetic campaigns is far reaching. In some instances, the format is the familiar one of combining a well-known picture with words following an established grammar. Other vi examples include doctoring situationally relevant images, creating brand new images with distinct messaging, and pairing images with common cultural references.* + +*• Visual memes often (though not always) use humor, irony, and sarcasm in order to resonate emotionally.* + +*• Visual memes often transcend individual cultures and languages, and can reach broad communities of disparate actors in the online information environment.* + +*• Well-targeted visual memes are culturally specific and situationally narrow. This may seem to be a direct contradiction of the previous observation, but it is important to acknowledge that while memes may be understood across wide swaths of humanity, they will likely be particularly meaningful within specific cultures, languages, and situations.* + +*• Visual memes are utilized by all manner of online actors—governments, non-governmental organizations (NGOs), non-state actors, and individuals.* + +*• Visual memes have been used effectively at the tactical level (e.g., combatting local government censorship) and the strategic level (e.g., against North Korean missile tests).* + +Here’s how some of these above points are being executed on our sub through the creation and use of our memes: + +***Visual memes often transcend individual cultures and languages, and can reach broad communities of disparate actors in the online information environment.*** + +&#x200B; + +[Posted by u\/Expensive-Two-8128 1 month ago in r\/Superstonk](https://preview.redd.it/j01kjjulr7671.png?width=1270&format=png&auto=webp&s=5ef093ad68d7478a82c0b57d3af796fabbe98a22) + +Our memes have quite literally been spreading valuable information and broad concepts to audiences that would not normally have an interest in the subject; I know when I personally got into reading about gamestop the first thing that drew me in were the funny memes. I was able to connect with them on a level that news articles/DD into the company could not because I was not experienced or knowledgeable enough in those subjects. + +I think this is why we have been able to as a subreddit grow the sub so quickly, as our funny memes reach the front page, in conjunction with our excellent DD and news revolving around the stock other users on reddit who may not have an understanding of these concepts can quickly make new and important connections through memes that are then translate into understanding of DD. + +***Visual memes have been used effectively at the tactical level (e.g., combatting local government censorship) and the strategic level (e.g., against North Korean missile tests).*** + +***WARNING 3 MONTH OLD MEME AHEAD I AM NOT PRICE ANCHORING. THIS IS AN EXAMPLE OF WHAT I AM DISCUSSING. I ALSO AM USING THIS MEME SPECIFICALLY BECAUSE IN MY OPINION IT IS THE MOST IMPORTANT INSTANCE - "100K IS NOT A MEME" - THAT A PRICE MOVED FROM BEING LITERALLY JUST A MEME TO BEING THE FLOOR.*** + +[Posted by u\/sleepdeprivedzzz 3 months ago in r\/gme](https://preview.redd.it/f9vsby74r7671.jpg?width=376&format=pjpg&auto=webp&s=3318eb1fc753bed14d1e42a3b0a27bda3be0171a) + +&#x200B; + +[ Posted by u\/pepe\_\_\_\_\_ 10 days ago in r\/Superstonk](https://preview.redd.it/h75z5xpxd9671.jpg?width=960&format=pjpg&auto=webp&s=74027352069319dcbde2f93ee38beb7724539674) + +Our memes have been used to create new “floors” on the stock price, or even keep our attention focused on the subject by pointing out blatant forum sliding, etc. Remember back in February/March when we had a low floor of $100,000, the meme at the time was “*$100,000 is not a meme*”, eventually this meme developed into our actual floor, now it is much higher of course as we have more knowledge on the subject. Without the birth of these memes I doubt we would have the accepted or ideal floors that we do. + +Added 1:34: Some users were wanting me to source memes with higher floors than the one above because of fear of FUD, and I have noticed something really interesting when looking for memes with higher price floors, it appears to me that there were far fewer of these higher price floor memes created than the lower "100k is not a meme" posts. What I think this may suggest is that, since we have already broken through the barrier of "100k is not a meme" with the use of memes, the memes created with higher price floor's have more impact - they don't need to be reinforced constantly. This may also be due to the fact that we have more information than we had before but this could be an interesting perspective. + +We have even used memes to assist with the dissemination of good exit strategies (not financial advice) see below. Post title reads "My Wife and I after selling 1 GME (on the way down) ; after the real MOASS.", this cleverly and quickly tells us a number of things: + +1. hold gme +2. sell on the way down +3. the price will attain extremely high value that selling just 1 share is more than enough + +The simplicity of one sentence combined with one image, is incredibly successful in conveying the message that it wants to, and anyone within this sub or outside this sub can relate to this meme. + +&#x200B; + +[Post Title \\"My Wife and I after selling 1 GME \(on the way down\) ; after the real MOASS.\\" Posted by u\/daarthVapor 5 days ago in r\/Superstonk ](https://preview.redd.it/hndyvmr2s7671.jpg?width=276&format=pjpg&auto=webp&s=7f689c07bdc7615e266cc99566db2a6ee853c5b0) + +***Well-targeted visual memes are culturally specific and situationally narrow. This may seem to be a direct contradiction of the previous observation, but it is important to acknowledge that while memes may be understood across wide swaths of humanity, they will likely be particularly meaningful within specific cultures, languages, and situations.*** + +&#x200B; + +[ Posted by u\/utopian\_potential 1 day ago in r\/superstonk](https://preview.redd.it/anwiznjus7671.png?width=706&format=png&auto=webp&s=55f9209fb11c77aca3fa986774037c0c1f9811f9) + +I think a good example of this is the “Knight of New” content. I would argue that this is a sub-culture within r/superstonk and an important one as well - which is why there is likely increasing attacks against the knights of new. If memes are created that paint the knights of new in a positive light or in a fun way, more users will be inclined to look closely at “New” and start policing it themselves as well, I know I did when I saw these memes, and I actively now spend time on “new” downvoting and reporting content that is irrelevant to this subreddit because of the memes. + +There is a good meme trending on the front page right now which cleverly fights some shill tactics and FUD. I would consider the anti-fud and shill memes to be relatively newer, 1-2 months of age now because our sub has been attacked a number of times. + +[ Posted by u\/Lequids 5 hours ago in r\/Superstonk](https://preview.redd.it/hihxx2hgc9671.jpg?width=640&format=pjpg&auto=webp&s=a9eff522e8b33d4c72052cabc01f5c6681873bd8) + +&#x200B; + +[ Posted by u\/Gh\_stToast 21 days ago in r\/Superstonk](https://preview.redd.it/fedjbtw2g9671.jpg?width=1920&format=pjpg&auto=webp&s=898c5e3b9af6996358fa6f4c8f8df411ad272438) + +The above post clearly ridicules shitty FUD bots, which helps users to be not only more critical of what they are reading on this subreddit, but the bots that do exist and contribute negative content. It also sheds light on the fact that these shills/bots are attempting to blend in through exposure of the fact that the bot/shill used "imaginedragondeez69" as a username. + +Here are some of the objectives of memes I have seen used on this sub whether we knew it or not: + +1. Create critical discussion on a subject +2. Disseminate information in a quick and digestible way +3. Create hype/inspiration +4. Be a form of entertainment +5. Create a sense of community + +I can expand on this thought if there is interest in it, but I hope this helps to understand what we are doing on a cultural level so that we can better prepare ourselves against subreddit wide attacks. + +Adding 1:45pm EST: I am absolutely worried that memes can be used against us, so much like good DD vs. bad DD we have to be mindful of what we are promoting by the means of upvotes. I hope that this post can at least remove a veil that there is something in fact happening with memes, and that we must consider them critically. A big factor to consider is the timing of a meme when posted. A good meme 3 months ago may be in bad taste today, for example had the Batman meme above been posted as a dedicated post today, it would be most certainly price anchoring FUD. + +https://preview.redd.it/z1hkv08gt7671.jpg?width=400&format=pjpg&auto=webp&s=08b1e4f01cd8f3d7a9bc7d47ed57f5dc022d2035 + +Real TL;DR: Our memes are an important tool on this sub and I think there may be a planned attack on the use of them in this sub to create division or reduce our ability to quickly disseminate valuable information. + +This is not financial advice... obviously. +Tens of Millions of short untenable positions in GME will expire this month. Hence, an all-out effort by hedgies to suppress the price. + +DRS is working. Slowly, but surely, the float is reducing. Hedgies are now resorting to desperately short ETF's multiple times over. + +GME quarter ending 31st Jan. will be a blockbuster. With great inventory, long queues at outlets, and strong seasonal demand, the revenue numbers will beat all expectations - as is happening past few quarters. + +Operational efficiency and closure of non-performing stores will cut overheads and cost. It is just a matter of time before GME goes green based on these and improved margins. + +NFT Marketplace will be a game-changer. The hedgies are so afraid of this development that they have resorted to pre-empt and break this news despite there being no official announcement from GME. + +NFT dividend? Or just plain cash dividend? Both are in the realms of possibility. It is for the hedgies to worry about it happening. For GME holders, it's just one of many positive surprises to look forward to in future. + +GME Buyback? With 100 Million leftover cash for buyback, any announcement on this score will be a bombshell revelation. + +Ryan Cohen/Insiders buying the dip? No GME insiders are selling. However, there is a possibility of insider buying, especially with the juicy dip. This will greatly boost the sentiment for the stonk. + +In short, stay Zen. Buy. Shop. HODL. DRS. +Developed a very stupid habit of getting things on loans and financing & credit cards and it got at its worst end of last year. + +Started tackling this debt hard. I only have this £5k remaining and this will be cleared by the end of July. + +I refuse to get into debt again. This has been difficult to pay off, made a lot of sacrifices, haven’t had a vacation in 3 years because of materialistic impulses I wanted to spend my money on. + +Barely treated myself to anything since Christmas, just threw money at the debt. + +The biggest part of this for me was the mental aspect, knowing I had so much debt and no one knows, felt embarrassed about it. But it’s almost gone and I can continue with my life again. + +I moved to the USA last month, and once this is all paid I can finally start to enjoy my life again. + +Thank you to this sub - you have all be incredibly helpful over the last 6-8 months. +Through both backtesting, as well a few articles I've read here's one: + +https://www.quant-investing.com/blogs/general/2015/02/16/truths-about-stop-losses-that-nobody-wants-to-believe + +This article suggests that a 20% stop loss is best to use, because the 5, 10, etc stop you out too soon. Lower stop-losses tend to offset and major losses in a short period, but over a long term they are wildly less profitable. I was curious if anyone else had found the same? + +Here's my backtests: + +Over 1,500 trades a 10% stop-loss would net me a 1.35% return (per 100% of my account traded). + +Over the same 1,500 trades a 20% stop-loss would net me a 2.3% return (per 100% of my account traded). + +Now, I'm not suggesting that 1,500 trades is a good back test. I would probably aim for a number closer to 10,000. However, the article tested this method over 85 years! Using my specific test as an example, I was very surprised to find such a wild difference in profit. I was curious if anyone else has had similar results? If so, why do you think this is? + + +Note: I only throw about 10% of my account at any single trade. So if a 20% stop loss did occur, it would be a 2% hit on my overall account which aligns with the following article: + +https://www.investopedia.com/terms/t/two-percent-rule.asp +WSBrethren, + +I want to call attention to the fact that GME has been consolidating for 2 months and looks just about ready to launch. Check the chart below courtesy of traderstewie. For months GME has been tightening and building higher lows on the daily and weekly. The key level to break out of the wedge is \~190 which we're pretty much exactly at now. Above $190 the path looks open to $300+. + +GME is starting to look like a rocket launch site. The only thing missing is volume. + +I like the stock, but do your own due diligence. There is always uncertainty. Don't speculate with $ you can't afford to lose. + +Update (7:45pm) - + +Well, GME broke the hell out of its channel. Don't believe the reports talking about a squeeze. The squeeze has not squoze. You'll know it's squeezing when the price shoots up dramatically. And each squeeze makes the next one more likely. Don't expect a smooth ride but I don't see much resistance from here to $300. + +https://preview.redd.it/mun17tps2a171.png?width=1240&format=png&auto=webp&s=81f63a9e0d3ed6e3a317968f7e20f05c1af4f063 +Yesterday, the Ontario Superior Court of Justice sent a Mareva Injunction to Nunchuk Bitcoin wallet software provider on behalf of the Canadian government. + +Nunchuk was ordered to freeze and disclose information about the assets involved in the Freedom Convoy movement. Nunchuk responded by email giving the Ontario Superior Court of Justice and the Canadian government an epic Bitcoin beginners lesson on how self-custodial Bitcoin wallets work. + +***"Nunchuk is a self-custodial, collaborative-multisig Bitcoin wallet. We are a software provider. not a custodial financial intermediary.*** + +***Our software is free to use. It allows people to eliminate single points of failure and store bitcoin in the safest way possible, while preserving privacy.*** + +***We do not hold any keys. Therefore, we cannot freeze our users' assets. We cannot prevent them from being moved. We do not have knowledge of the existence, nature, value and location of our users' assets. This is by design.*** + +***Please look up how self-custody and private keys work. When the Canadian dollar becomes worthless, we will be here to serve you too."*** + +*Source -* [*https://twitter.com/nunchuk\_io/status/1494885897577271299*](https://twitter.com/nunchuk_io/status/1494885897577271299) +https://fred.stlouisfed.org/series/BOGZ1FL193020005Q + +https://fred.stlouisfed.org/release/tables?rid=52&eid=810420#snid=810426 + +I feel this data fights the narrative of "nobody can afford rent, $5/gallon gas is killing the consumer and bleeding into the cost of everything else they buy (food)" + +Which is it? Does the consumer have an all-time-high balance sheet and can weather a storm without issue because they are flush with cash on hand (handed out/saving during the pandemic) or is the lower half of America struggling, suffering, barely hanging on, about to get laid off while the country stagnates? +I like frequently updating my net worth spreadsheet because it's been satisfying to see the number snowball up, especially over the bull run over the past few years. But now I can't remember the last time I updated it! Watching it go down so much has been hard to watch, but obviously the strategy is still the same and need to keep maxing out the accounts. On that note I've also noticed there are a lot less "$100k/$200k/$500k net worth milestone achieved" posts this year lol. +Between work and travel I was rarely home and its always just been a place to recharge. Now with the pandemic and spending much more time at home I'm starting to be more appreciative of things I've previously never had the time to enjoy while also noticing other things I've been overlooking. For example, I'm really enjoying how scenic and walkable my neighborhood is now that I have time to go for walks and also appreciating the the kitchen renovation I did a few years back which I rarely used until now. On the flip side, even with a house cleaner there's a lot of places that could really use a deep cleaning or even just repainting / updating. + +What are the things you are starting to appreciate now that you are home and what are the areas that you'll be looking to improve to increase your qualify of life while hunkering down at home? +So this post is on the front page about 212 not facilitating transfers: https://reddit.com/r/Superstonk/comments/obk7qj/update_on_t212_share_tranfers/ + +So wut do? + +If you’re in the uk there is one thing. It’s called the financial ombudsman service (FOS). It’s great. Banks don’t like it because it gives customers power. Banks will just straight up pay customers, depending on complaint, to avoid dealing with the ombudsman service procedure. + +Now when do banks ever willingly given out money? + +It’s because complaints procedures in finance are regulated. You **have** to deal with them. You have to have a formal complaints procedure. You have to respond to the Financial Ombudsman. You cannot ignore this. This is why banks and the like always try to just deal with complaints ASAP and rather pay out directly than have to bother doing the whole complaints thing. + +The only caveat here is you can only goto the FOS after you have complained to the financial service, and they have responded to your complaint but you aren’t satisfied. You can’t go directly to them in the first instance. + +So What UK apes can do is formally complain to 212 about refusing share transfers after a change in policy made them want to leave the platform. + +212 will eventually respond, likely saying “soz no can do”. But That’s good though. It means you can goto the ombudsman. + +Goto the FOS & They’ll start an investigation. It takes time but they do it. They’ll really start an investigation if they get numerous similar complaints… + +**So** + +Do this. + +Complain to 212 using this email - **info@trading212.com** + +Make sure you include the following: + + complaint sent by the client shall include: + +- the client’s name and surname; +- the client’s username; +- the date on which the issue arose; +- the affected transaction numbers, if applicable; and +- a clear and logical description of the issue. + +Every 212 user should do this. + +When they respond and say no, goto the Ombudsman and fill out their form here - https://www.financial-ombudsman.org.uk/consumers/how-to-complain + +Ideally they fix their shit, but if they don’t then every 212 user goes to the UK FOS, it will cause a shit show for their compliance team & forces them to, you know, let people transfer their own fucking assets. + +This is the way. It may take time, but it will annoy the fuck out of them & will lead to them changing this policy, one way or another. + +*Source worked in uk banking.* +Back in March, long before a short seller would raise questions about electric-truck company Nikola Corp. and hasten its founder’s exit, **early investors in the company were expressing concerns of their own. Those investors, led by mutual-fund giant Fidelity Investments, were worried that Trevor Milton, for all his brash visionary talk and Twitter braggadocio, lacked the ability that Elon Musk possesses to deliver these sorts of newfangled products to market. They lobbied successfully to remove him as CEO before the company’s June IPO and for Milton’s father to leave the board, according to people familiar with the matter. When the deal was done, Milton only held the title of chairman, the post he resigned this month.** + +The back-room negotiations show that Milton’s past was a concern to investors months before General Motors Co. executives placed a bet on the company in a US$2 billion deal carved out after the IPO. They liked Milton’s vision and his ability to raise cash and felt the venture was safeguarded from his shortcomings in operations by his push upstairs, say people familiar with the matter. Nonetheless, the events that have unfolded since the short-seller report, with Nikola’s stock plunging amid a steady stream of negative headlines, have exposed just how high the risks still were. + +Now, it’s up to former GM Vice Chairman Steve Girsky, whose blank-check company VectoIQ took Nikola public via reverse merger in June, and Nikola CEO Mark Russell to stabilize the business and regain investor confidence. The plan with GM was to use Nikola’s hot stock and Milton’s ability to raise money to build a hydrogen-fueled trucking business with GM’s technology. + +“There is obviously someone on the diligence side who isn’t going to get a nice bonus this year,” said Reilly Brennan, founder of the venture capital fund Trucks Inc. “The best possible thing if you’re a shareholder is that Milton is no longer running the company and you have Girsky as chairman and GM providing technology.” + +The GM deal was originally scheduled to close Sept. 30, and the automaker has said it plans to carry through, but that timing may slip, say people familiar with the matter. BP Plc is still engaged with Nikola in talks to partner on a network of hydrogen fueling stations for fuel-cell trucks the company hopes to sell, but also is slowing the pace for a deal, said the people, who asked not to be identified discussing private information. BP and GM declined to comment. + +Milton’s tale reads like a Greek tragedy. The report by short seller Hindenburg Research accused Milton of overhyping Nikola’s technology and has prompted investigations by the Justice Department and U.S. Securities and Exchange Commission. A cousin has accused him of a decades-ago sexual assault, which he denies. The company’s value peaked at US$30 billion and is now worth about US$7 billion. + +Girsky and GM Chief Executive Officer Mary Barra have both said publicly that they did plenty of due diligence. People familiar with the matter say that GM found out when scouting the deal that it had better batteries and fuel-cell technology but joined forces because Nikola had a working semi truck and access to capital markets. In addition, GM will get paid to build Nikola’s Badger pickup on existing assembly lines. Milton was so excited to get the Badger pickup program moving that he signed a deal that heavily favored GM, one of the people said. + +Nikola’s stock and GM’s US$2 billion stake are worth less than half what they were on Sept. 8, when the deal was announced. Milton’s own stake is worth US$1.7 billion, down from almost US$5 billion at one point. + +Milton said in a June interview with Bloomberg News that he grew up in modest surroundings in Layton, Utah. His family moved to Las Vegas when he was very young and he lost his mother to cancer shortly after moving back to Utah in the sixth grade. He wrote on Twitter he didn’t finish high school, earning an equivalency certification instead, and later dropped out of college. His Twitter account has since been deleted. + +He grew up in a tight-knit Mormon family, according to Aubrey Smith, his first cousin. She went on social media recently and accused him of sexually assaulting her in 1999 when she was 15 and he was 17. + +In a public account on Facebook and Twitter, and repeated in a phone interview, Smith said that Milton came onto her at the funeral of their grandfather. He took her shirt off without permission, Smith wrote, and then he touched her inappropriately before someone knocked at the door and she ran out. + +Milton denied the allegations through a spokesman. + +Smith said Milton raised money from family members to get his start. He founded and ran several businesses, including a home-security company that Milton claims he sold for US$1.5 million. Next, in 2009, he founded an e-commerce platform called Upillar.com, which Milton claims “pioneered the shopping cart online.” + +Then he got into clean propulsion but ended up embroiled in litigation with dHybrid Inc., which he founded in 2009. The company retrofitted diesel vehicles with natural-gas-burning turbines, claiming the dual system had greater efficiency. + +But a deal with Swift Transportation Co. in 2010 ended in court when Swift alleged dHybrid defaulted on a US$322,000 loan and that it retrofitted only half of the agreed vehicles. The case was dismissed in 2015. + +Milton later tried to sell dHybrid to a company called sPower in May 2012 but that, too, got mired in lawsuits after sPower backed out and accused Milton of exaggerating its technological capabilities. + +Amid the litigation, Milton started another company with a very similar name, dHybrid Systems, selling it in 2014 to Worthington Industries. + +During an interview with Bloomberg in June, Milton said that dHybrid Inc. was a success but conceded that, “we ended up closing that one down because of some litigation.” + +His next startup was Nikola, founding it in 2014 in Salt Lake City before moving to Phoenix. Emulating Musk, he took the name from the electricity pioneer Nikola Tesla, and the company was soon billed as the Tesla of Trucks. His plan was seen as potentially disrupting the entire transportation industry by making trucks that ran on batteries or hydrogen-fuel cells. He also planned to build a network of hydrogen filling stations. + +Friends and Family + +Milton had friends and family members working for Nikola despite resumes that didn’t match the job. His brother, Travis Milton, is director of hydrogen and infrastructure. His LinkedIn profile shows that most of his experience was being “self-employed” in Maui. The short seller, Hindenburg Research, said that Travis Milton poured concrete as a contractor. Milton’s father Bill was originally on the board but stepped down when VectoIQ took the company public. + +The company’s stock prospectus said that Nikola had awarded more than 3 million stock options “to recognize the superior performance and contribution of specific employees.” The list included Travis Milton and an uncle, Lance Milton, the document said, acknowledging that they are relatives. + +As Milton went public with Nikola’s technology, questions soon arose involving his claims about the company’s fuel-cell system. He bragged in an investor video in 2019 that the company had created “what other manufacturers said was impossible to design.” But while Nikola holds patents in fuel-cell and battery technology, most of its planned hardware was coming from German supplier Robert Bosch Gmbh. + +Nikola Demonstrations + +It became clear that Milton had gotten ahead of himself. A 2016 demonstration showed a truck that didn’t have a working hydrogen-fuel-cell system and was missing key parts, people familiar with the matter said in June. Milton said at the time that the parts were removed as a safety precaution. + +In July of this year, he recorded a video of the semi truck in which he ran alongside the vehicle as it coasted at low speeds in a parking lot. Aping Musk’s combative social-media persona, Milton took a shot at his detractors saying, “these damned trolls, I wonder if they are going to apologize to everyone for the lies they spread the tens of thousands of comments about how fake we are.” + +Girsky said in the webcast “Autoline This Week,” in which Bloomberg participated, that he has been in Nikola’s fuel-cell trucks and that they work. + +Still, when the GM deal was done, GM will be supplying all of the technology for every global market except Europe. Nikola’s pickup truck, called Badger, will use GM’s Ultium battery, and the semis will run on a fuel cell developed by GM and Honda Motor Co. + +Since Milton’s departure, Nikola has billed itself more as an integrator of other technologies into its Badger pickup and semi trucks. + +For GM’s part, the automaker is protected from any financial downside. GM got 11 per cent of the stock for no cash investment and gets paid for its technology. If Nikola fails, GM won’t lose a dime. + +Milton has remained silent and is out of the company. He unknowingly presaged his own downfall in the June interview with Bloomberg: “Part of becoming a better person in life is losing everything you have got and having nothing left.” + +https://www.bnnbloomberg.ca/nikola-founder-milton-s-fall-reveals-what-his-backers-feared-1.1500376 +Do you have a trusted agent find you properties, or only engage an agent once you’ve found a property you’re interested in? + +Search websites like Zillow, Redfin, etc? + +Word of mouth? + +Drive around and look for For Sale signs? +I have a student debt of $170,000 through government, and I'm currently making 65k a year. I started investing in stocks in March 2020. I have been fortunate enough to make high gain (+115% return so far) and I have just enough to pay off my student loan (\~$195,000 worth of TSLA, SBE and PLTR). I was wondering if I should sell off some (if not all) of my stocks to pay off part (if not all) of my student loan. I also know that I would get my tax deduction if I hold on to stocks for more than a year. Should I wait for that period? + + +Thank you +Porsche locked up 75% of VW stocks when that classic squeeze happened. + +20% of the float was held by German states. + +That left 5% to trade when the legal short % was around 13%. + +That's it. The NFT announcement, RC tweeting, record sale #'s .... all nice things... + +But locking up the float is the only way to MOASS. + +Until GameStop can announce that a super majority of the float has been directly registered, we are playing a game of kicking the can. + +Inside your heart you know this to be true. The DD, the experts, the historical information, it all points to this being the only thing that can bring the manipulation and corruption to the surface. + +DRS = MOASS. +Hi all, hitting the 2 year mark of living with my SO in September, which I believe will be when we are considered in a De Facto relationship. + +I have savings invested in ETFs that I've put together over the last 10 years. We've been together for the last 3 and living together for 1.5. She unfortunately doesn't have much savings or income as she's trying to get a business off the ground. + +I help her out with our bills and rent when needed, and continue to add to my investments where possible. I'm concerned about what happens when we turn DeFacto and she has the right to claim half of my investment portfolio. + +She's agreed she'd be happy to sign an agreement that the investments wouldn't be part of any separation as I accrued the money before we met, and we share all expenses moving forward. Is this an option legally? Can we make those finances untouchable in case of a break up? + +Just wanted to see if anyone had similar experience before I start paying for legal advice. + +EDIT: Other option of course is to just embrace that being in a relationship means sharing what you own. My parents divorced so I think that's why I'm a bit cautious but yea, maybe just gotta remember that we only live once. + +Thanks +Hello, I'm 18 and fairly new to day trading although for a few weeks have been making steady profit. Friday I made what I think is a huge f up, I shorted eur/usd Friday right before market close without realising my order would be left open. I'm not fussed about overnight fees as I think my broker is fairly reasonable but my trade itself is leveraged a decent amount and I'm worried the market will gap by a huge amount either in my favour or against my favour... any advice? Should I set a stop loss or pay a decent amount extra to set a guaranteed stop-loss? Or should I not be worried at all? + +Any help/advice is appreciated and if I did mess up, harsh criticism is welcomed anything to engrave mistakes into my brain so I never make them again lol + +Edit: Stop loss triggered and I only lost a tiny manageable amount, just panic due to my inexperience, Thanks for all the advice +I want you to understand this. Truly. + +I like GameStop. I like $GME. I believe in the long term plan (or what I/we think is the plan, anyway). I bought a Pro Membership and have put in orders through the app I downloaded. I think they'll kill 4Q earnings in March. + +I THINK GAMESTOP IS A GOOD COMPANY. I think Cohen and his team bring something to the table that will truly turn around the company. I think CNBC and particularly Melissa Lee can go suck an egg with their dismissiveness of the bull case, which they barely even pretend to have considered. I think the stock was and has been manipulated as fuck. + +My personal belief, which I require nobody else to share, is that Ryan Cohen and gang also still have more buying to do, and their buying alone will drive the price up. But my belief is that they have no interest in buying at this price, or they'd have done so. I believe they're waiting for the price to fall back toward the fair market value. And I believe they may force the issue by issuing more shares. That's what I believe, and why I'm not holding positions right now. I probably will in the future, but my personal opinion is the time is not right. + +I wrote these posts: + +[https://www.reddit.com/r/wallstreetbets/comments/l6n4lj/on\_leverage\_supply\_demand\_how\_we\_got\_here\_gme/](https://www.reddit.com/r/wallstreetbets/comments/l6n4lj/on_leverage_supply_demand_how_we_got_here_gme/) + +[https://www.reddit.com/r/wallstreetbets/comments/l6rsol/heres\_the\_letter\_i\_wrote\_to\_my\_congressman/](https://www.reddit.com/r/wallstreetbets/comments/l6rsol/heres_the_letter_i_wrote_to_my_congressman/) + +(EDIT: lol I just realized both of those posts aren't visible since they were removed by the mods. + They were pro-retail and pro-GME) + +I want to see people make money on this. Better yet, I WOULD LIKE TO MAKE MONEY ON THIS. + +Further, what Robinhood did, as well as Webull, Interactive Brokers, E\*Trade, EToro, and tons of other brokerages did, ***was fucked up. Everybody here agrees.*** + +But you guys are actually fucking insane. We dont have a problem with the stock. We have a problem with YOU. + +Many of the people who have joined WSB in the past two weeks are brand new to investing. And that's okay! But the new people (7 million new versus 1.5 million old) have done the following: + +* Spent weeks downvoting every single ticker besides GME, AMC, BB, and NOK + * Failed to realize there is no short squeeze on BB or NOK + * Failed to realize the NOK spam was purely from bots + * While you've realized there were bots that were bought, you missed (probably because you were spamming rocket emojis and gorillas) that the bots were spamming NOK. + * Continually asked what stock WE are going to MANIPULATE next +* Tried to educate the crowd on terminology you just googled ten minutes earlier. + * I saw one person disagreeing with a long-time and well-respected poster here by telling other Apes to ignore that post, and to instead read a copied and pasted two paragraph blurb from investopedia that explained the effect of a stock split on a short position. +* Made up securities laws and terminology that doesn't actually exist + * Short ladders? Every time a price falls from a peak it's a short ladder? EVERY TIME? + * You don't think that there's a natural reversion in the balance of supply & demand after a stock runs up thousands of percent in a matter of days? +* With zero understanding of market mechanics, explaining to others why price action is fake + * "Look how low volume is on this candle! It's not a real drop!" + * [the dip is fake](https://www.reddit.com/r/wallstreetbets/comments/lay22q/the_dip_is_fake_look_at_how_many_people_are/) +* Called people who have been involved in this play since Summer 2020 "paperhand pussies" for taking profits when the price of the stock went up 1,500% +* Turned WallStreetBets into a political activism forum +* Denying Reality + * S3 partners is not lying to you. They and Ortex are consistently the best sources of difficult-to-obtain information on short interest. Just because they're reporting that short % of float is reduced FROM THE HIGHEST LEVEL THAT ANY STOCK HAS EVER HAD does not mean that they're lying to you. +* Spammed low-effort memes and easily-Googleable questions on the new submissions + * When your posts were taken down, you posted AGAIN +* Accused anybody with an opposing opinion of being a hedge fund shill/bot +* AGGRESSIVELY spamming to find buyers to help you get out of your huge negative position +* I want to gag every time I see somebody write "I'm not a financial advisor" following a post that makes that very clear +* Moving the goalposts + * "YOU ARE HERE on the VW short squeeze graph!" + * "We finished above $325! Gamma squeeze!" (Personal confession, I almost fell for this one and I'm glad I sold before the plummet). + * "Ok so there was no gamma squeeze Monday but Tuesday is the day!" + * "Ok we fell another 50% Tuesday but definitely Wednesday!" + * "Fuck it let's just harrass investor relations to help us!" +* Accused the mods of being paid off by hedge funds for doing what they've always done, which is remove shit-tier posts from the front page + * which you then posted again + * and again +* Completely ignored the rules of our subreddit + * Market Manipulation -- + * No Pump & Dumps -- pressuring other people to buy low float stocks (such as GME) so that you can drive up buying demand and sell when you've decreased your losses is a scam. + * Political Bullshit -- If you think "it's not about the money" then get the fuck out because it is absolutely about the money. + * No Bullshitting -- There are so many of you advising others on their trades (followed by "This is not financial advice, am ape") while you have no idea what the fuck you're talking about aside from something you just read on Reddit 5 minutes ago, which was posted by somebody else who had no idea what the fuck they were talking about, which was based on a tweet they read 10 minutes before that from someone who DID know what they were talking about, but OP misinterpreted the meaning. + * Believe it or not, that's against the rules. Just say you dont know. Or say nothing. There's actually no need to spam. +* Gain & Loss Posts - nobody wants to see your Loss on one-third of a share of AMC. Come on. +* YOLO - Your investment in one-third of a share of AMC is not a YOLO. A YOLO is DFV leveraging up his entire $55,000 account with positions in a single ticker and letting it ride or die. + * [not a fucking YOLO -- it's a picture of a billboard](https://www.reddit.com/r/wallstreetbets/comments/la96zj/my_amc_billboard_is_up_in_kalamazoo_mi/) +* Drowned out a lot of really good content on non-GME stuff + * u/dhsmatt2 's [updated PRPL $1.1MM DD](https://www.reddit.com/r/wallstreetbets/comments/lcgce1/1100000_purple_mattress_yolo_update/) + * u/socialist_baby 's [$1.5MM YOLO on NVTA](https://www.reddit.com/r/wallstreetbets/comments/le81ca/15m_nvta_yolo/) + * I can't even find the others that I had in mind using the search tool because the entire list of YOLO's and DD's is filled with GME and AMC karma farming. +* And you've now begun brigading WSB from r/GME. + +You have formed a cult. You've now decided, amongst yourselves, that anybody who is not in on your play and wants to discuss other things is just a paid hedge fund shill. Do you think that's a healthy mindset? + +If this is the investment that you truly want to make, and you feel you have an understanding of the risks, then fucking ***let it rip.*** I hope it works out. Seriously, I want you to make money. I like Gain porn a lot more than Loss porn. + +But stop bullshitting. Stop brigading. Stop spamming. + +You're driving us nuts. + +&#x200B; + +https://preview.redd.it/h7xqt1iw97g61.jpg?width=466&format=pjpg&auto=webp&s=bc87b50bb806d2bedbb5aa0c3fa1ff56d19660b2 +I am M 29 from developing country, worked in first world countries on first world salaries for years now along with freelancing. Managed to save up 70-80% of my salary annually and finally reached my pre-covid inflation goal of savings earlier this year. + +Since my goal was to always move back to my home country where cost of living is pretty cheap, my savings goal was also obviously lower compared to others who wish to retire in the west (just giving context). + + +I am scared to take the plunge and retire seeing the runaway inflation happening worldwide. All the major safe plays like MF, Index funds, etc are no longer keeping up with inflation and I feel like the most hurt by this are the people who have savings (like us). + + +My goal was to always retire before 30 because of my unique circumstances I’ve ran the calculations and I knew back then I could easily get here. +But now I am here, I am scared to take the leap fearing the future. + + +How are you guys (esp the ones that retired already) dealing with the inflation? I am beginning to think I can never jump off the hamsterwheel. + Bitcoin maximalists keep preaching that adoption is important and Ethereum doesn't have adoption + +[https://media.consensys.net/ethereum-has-4x-more-developers-than-any-other-crypto-ecosystem-638668eba41d](https://media.consensys.net/ethereum-has-4x-more-developers-than-any-other-crypto-ecosystem-638668eba41d) + +Ethereum has 4x the number of developers than Bitcoin. How's that for adoption? +**EDIT:** + +to be clear - the ultimate purpose of this post wasn't to suggest fidelity or vanguard or other brokers holding shares are in real danger of insolvency (other than robbinghood lol). + +i don't think fidelity and a majority of brokers will fail. i still have significant shares in fidelity with plans to move them all soon. + +the purpose was to share more information about how fidelity, willing or unwillingly, could be contributing towards (and in my stupid opinion is) the abuses that have been occurring against GME since *at least* january by functionally lending cash account shares without *explicit* *notification*. + +in my mind, this spells out the **absolute necessity** to get as many shares in CS as possible. + +until GME retail investors start playing at the big boy tables (transfer agents), we'll be stuck in the sandbox the industry has spent decades building into the most elaborate maze of total and utter bullshit. + +the fact that **you can't suggest direct registration of shares in order to create a short squeeze (even if you're a victim of naked shorting)** is a rule imposed by **the fucking SEC**, proves without a doubt in my mind that the whole thing is fucking rotten. + +let me reiterate: + +# you can't suggest direct registration of shares in order to create a short squeeze + +&#x200B; + +*"investing for the masses"* my ass - they're fucking crooks. plain and simple. + +**OP**: + +I was calling fidelity to transfer more shares to computershare and saw [**this post**](https://www.reddit.com/r/Superstonk/comments/psot0b/this_is_what_happens_if_your_brokerage_lent_your/) by [u/JuxtaposeLife](https://www.reddit.com/user/JuxtaposeLife/) (which was buried for some reason?) so I asked the fidelity rep about it over the phone. + +He started with strong confirmation and then eased into *tentative* confirmation. You know, the type of confirmation someone gives when they realize they got a little too flappy-gummed. + +I checked around a little bit online and discovered the best way to catch a broker in a lie about their policy of lending shares is to check the customer agreement so I called fidelity back to find it on their site. + +[**Found it:**](https://www.fidelity.com/bin-public/060_www_fidelity_com/documents/brokerage-account-customer-agreement.pdf) + +&#x200B; + +[O rly?](https://preview.redd.it/1la6evb2pyo71.png?width=492&format=png&auto=webp&s=bb3271eaee82d6c9f9f893d97ebb96d669a2b52d) + +Does this refer to just a margin account? A fidelity rep might say so. Is that clear in the customer agreement? While this blurb is present in a margin section of the agreement, it is the only declarative statement that can be related to street/book shares and share lending. In other words, nothing in the agreement talks about cash account shares and their ability to be lent or not. + +Notice: + +>***As permitted by law*** + +Well, 2 fidelity reps have just confirmed the law says there is no relevant categorization between cash/margin accounts. Only street/book designation. + +Computershare, here I come! + +&#x200B; + +**EDIT:** + +upon reflection, the law regarding direct registration not being mentioned by companies being shorted into bankruptcy is ***fucking absurd*** and it should be totally and completely called out. i'm fucking pissed. + +it institutionally enables counterfeiting of shares (read: MONEY) with no effective regulatory oversight. it's fucking despicable, shady, and only works because keeping the info out of the public realm is ***supported by regulation.*** + +think about that. there is no counter to that. there is no way to justly oppose the **crime** of your *legitimate company* getting shorted into oblivion. **you can't even tell the public how to fight back.** +Happy 4th everyone! My wife and I are currently working overseas, but looking to relocate to the Midwest at the end of this year. + +We have been considering using our cash savings to build out a rental portfolio of multiple homes in the 75-100k price range. + +We currently own and manage two cash flowing SFHs and have another 250,000 cash. We would like to use our current savings and leverage this out to at least 1,000,000 in homes with the goal of this being our primary income. + +Using the 1% rule, our plan seems like it should be possible although we don’t know how realistic we are being with the numbers, current interest rates, and the market. + +Does this seem possible, or are we being too optimistic? Any advice or insights you have about the realities of this idea. +Sharing about my personal life, my past experience from building, selling a company, achieving the life I dreamed about (Financial independency) and how empty it was. + + +## My lessons learned? +- Look for a meaningful life, always +- but health first +- Time is precious +- Challenges make me alive +- Be happy +- Have savings +- Money is temporary, spend wisely +- B2B business is hard. Relationships help a lot + + + +## Intro +2007 - I’d been working for 10 years in Brazil, mainly as a software engineer and tech lead for a few different software development agencies. + +Hectic environment was the norm. 250+ hours/month for 4 months, no weekends, no exercises. I was like: “I’m young, I can do all of it”. + + +## Problem +Then, all of the sudden, I felt an irregular heart rate. I felt my heart beating faster for 2 days. This situation led me to a hospital visit. Burnt out detected. I was told to reduce workload. At least, my heart and everything else was completely fine. + +***This problem would change my mindset forever.*** + + +## Solution +Worrying about my life, I left the company and planned to spend 1 year taking care of myself, no work at all. (At the time I was living at home, no kids, 2 years of savings, which facilitated my decision) + +## My new mindset +- I will never work as many hours as before +- I will not worry about work as much as I will about my health + + +## What did I do next? +2 months into my “forced sabbatical”. Got a call from a former colleague: a job proposal. “NO, I’ll stay 1 year off work”. “How about doing a contract, working from home, at your own time?” I sent my proposal, considering 8hrs/day, higher rates and extended delivery dates. “Ok, agreed”. + +Fast forwarding some years, I co-created a B2B product (similar to QlikView and GeckoBoard) at my own pace (10 months), without pressures (working normal hours). Took us 10 months to strike the first sale! + + +## Company of One +I ran the company for 9 years: + +- 3 co-founders, I was the only one - working full time +- 4 clients only +- 4 employees +- All projects had realistic deadlines. We wouldn't allow pressure from clients to deliver earlier +- No extra hours +- Flexible time, we mostly could work whenever and wherever we wanted to, following the deliverables + +All of it also allowed me to work less hours and enjoy the chased freedom. **We were thriving.** + + +## Finally, the dreamed life +Everything was running accordingly. No long hours. Holidays abroad. Time to exercise. Low 7 figures revenue. Great profit. Highly efficient employees. The dreamed life had arrived! To make it even better, I received an offer and sold my company for something in the north of 7 times my yearly earnings. + + +## Moving abroad +With money on hand was time for us (my wife and I) to take the biggest decision of our lives: to move abroad, from the hot and sunny Brazil to London (I’ll write another post with the reasons we decided to move). + + +## I’m on top of the world +Now, I have all the time I wished for. I can travel a lot. I don’t need to work. I’m successful, anything I launch will be profitable. I know how to make money. + +Then I travelled. I didn’t look for a new job at all. I invested my time in side-projects as diverse as a list of transport options from airports to city centres. List of UK beers. List of videogame’s musics. + + +## Is everything going according to the plan? +Well, my new lifestyle was not bringing me real happiness. **Having anything I dreamed of without any clear purpose was meaningless.** + +Adding to this, my side-projects were not helping anyone. **This made me realise I wasn't as invincible as I arrogantly had thought.** + + +## The meaning of my life +One of the purposes of our moving abroad, was to raise kids in a safer country, with less problematic politics. Then, sticking to the original plan, it was time to have a baby. He was born 2 years after I started my dreamed, empty life. + +Since then, I'm one of the most important people in the world, at least for him. My life now has the most clear objectives, most difficult challenges and the best rewards ever: +- **to make him as happy as possible. If he’s happy, I’m more than happy** + +- **to raise him without any prejudiced views** + +- **and many, many more** + +**Now, I’m on top of the world.** + +## My today’s world +Since 2018 I'm working as a Project Manager/Product Owner after 12 years as an employer. + +Why? My mind needs to be active (empty mind sucks). It makes me feel alive. I need the income. + +There are loads of positive points now, like 25 days of holidays, clear direction, having a boss to learn from, working in an industry I’m passionate about (sports), career progression, etc. + +## My future +I’m chasing the dream, once again, of launching something that helps people. Why? +- to see the real joy of helping people solve their problems +- to spend quality time with my family. This time will never come back +- to have the freedom to work whenever and wherever I’m the most productive +- To feel the rush when a new client buys my product + +Now, I’m 100% sure I’m using my time and money way more wisely than before. +Everyone's favorite meme stock has blown well past my strike price. Luckily I'll still have shares left to ride to the moon with the WSBers. Anyone else? +Hey all, this is my first time actually contributing to the sub. Usually I come here for advice but now I have some for you. At the end of 2018 I downloaded a budget template and logged all transactions throughout 2019 and I have never felt more in control of my finances. By keeping an indepth budget sheet I was able to pinpoint and realise where my money was going where it shouldn't be and to where it should be going instead. Being able to track every cent I spent or earned was the best thing I did in 2019. + +You don't need to use the template I am, but I would recommend it: [~~https://www.thefrugalgene.com/budget-spreadsheet-free-google-docs-planner/~~](https://www.thefrugalgene.com/budget-spreadsheet-free-google-docs-planner/) use this one instead: [https://docs.google.com/spreadsheets/d/1qxe7PBGLVknHwJmRGP-1J60UsjCXsMffKFEnbmb3-SI/edit?usp=sharing](https://docs.google.com/spreadsheets/d/1qxe7PBGLVknHwJmRGP-1J60UsjCXsMffKFEnbmb3-SI/edit?usp=sharing) + +The biggest obstacle is to keep yourself motivated to continue filling it in as the year goes on. Keep your receipts to make it easier. If you share your finances with an SO or similar, keep each other motivated. At the end of the year you will find yourself in a much more powerful position when it comes to your finances. Logging all my expenses made me see how much money I wasted on junk food and the sorts. + +If anyone has anything else to add please do so as I wont claim I have all the answers. I hope this post helps some of you :) + +And lastly, Happy New Year everyone! +WSBrethren, + +I want to call attention to the fact that GME has been consolidating for 2 months and looks just about ready to launch. Check the chart below courtesy of traderstewie. For months GME has been tightening and building higher lows on the daily and weekly. The key level to break out of the wedge is \~190 which we're pretty much exactly at now. Above $190 the path looks open to $300+. + +GME is starting to look like a rocket launch site. The only thing missing is volume. + +I like the stock, but do your own due diligence. There is always uncertainty. Don't speculate with $ you can't afford to lose. + +Update (7:45pm) - + +Well, GME broke the hell out of its channel. Don't believe the reports talking about a squeeze. The squeeze has not squoze. You'll know it's squeezing when the price shoots up dramatically. And each squeeze makes the next one more likely. Don't expect a smooth ride but I don't see much resistance from here to $300. + +https://preview.redd.it/mun17tps2a171.png?width=1240&format=png&auto=webp&s=81f63a9e0d3ed6e3a317968f7e20f05c1af4f063 +What makes Premium Bonds attractive? + +It feels like lottery blended with Current Account (with 1% interest?) but I am not sure whether my limited understanding is correct. At what point (financially) does it become an attractive option, if any? +I use my Capital One credit card for virtually everything and then pay my balance off every week. + +Last night at 9 pm while watching TV, I got a text alert from Capital One asking if I had made a certain charge. It was definitely a place I had not been to in years (and my physical card was in my wallet), so I responded "no" and was given a fraud alert number to call. + +After spending 10 minutes on the phone with a fraud specialist, it appears my card had been "skimmed" and the number was being used multiple times at multiple places in New York state (thousands of miles from where I live). + +The agent immediately froze the card, credited all charges, and opened up a fraud report. Case closed. + +If the exact scenario had happened with a debit card, no immediate credit would have been given, and I would have had to wait for a bank to complete an investigation before getting any of my money back. This sometimes takes weeks or even months, depending on the bank. + +Hopefully, this anecdote will help out someone that frequently uses their debit card for purchases. + +ETA: The number I called was directly from the [capitalone.com](https://capitalone.com) website after I logged on to check my transactions. Thanks to those who pointed out to verify any number you call first. +# EDIT: 002 is not coming into effect tommorow as a fellow redditor has pointed out to me in the comments. It is going to get approved or denied, then implemented either same day or up to 10 days after approval(as far as I am aware) + +# EDIT 2: Fixed some minor formatting and phrasing issues to make the post a little cleaner to look at. (editing on mobile removes the images for some reason) + +Hello fellow apes! So the reason I'm writing this right now, as you might imagine, is because reverse repos have gone haywire. I mean, take a look at this: + +&#x200B; + +[ON RRP last Wednesday](https://preview.redd.it/cl1rnuw43m671.png?width=642&format=png&auto=webp&s=e410e08ad3c4f4f6e406dfce4399cfc36e41b84d) + +[ON RRP the day AFTER](https://preview.redd.it/895krlq63m671.png?width=634&format=png&auto=webp&s=a6eb1c97fbc12997a35af30c4a147c1dd6a80ee5) + +So, what gives? Why did all of these counterparties decide to throw money at the FED like they were at a strip club getting the greatest performance of their goddamn lives? That's a 200 BILLION increase in a day. Well, if you look under "Rate (%)" you'll see the award amount has changed to 0.05. That's right folks, banks and other counterparties are now getting **paid** for borrowing treasury collateral as the reverse repo rate isn't 0 anymore. This basically does 2 things: + +1. Incentivizes more counterparties to throw money into reverse repos +2. Incentivizes said counterparties to be more loosey goosey with how much treasury collateral they are borrowing + +Hence, we have the sudden jump in both counterparties as well as the total reverse repo $ amount. For such a large jump in a day, however, shows that there is a lot of demand for treasury collateral. This proves to me how bad this collateral crisis truly is, and how desperate banks and other counterparties are to get a hold of meaningful collateral. What's weird to me, is the *timing* of all this though. I mean, don't you find it weird that around the same time that 005 gets put into effect, counterparties are incentivized to borrow more treasury collateral? To understand this connection, we need to understand what 005 does. + +# Quick Rundown on 005: + +For some of the newer apes around here, or if you are still a little confused about the recent 005 rule enacted by the DTCC, what [DTC-2021-005](https://www.dtcc.com/-/media/Files/Downloads/legal/rule-filings/2021/DTC/SR-DTC-2021-005.pdf) does (other than soft doxxing people, shame on you DTCC) is essentially making it so if you are borrowing/lending a share, the share being lent is still in the hands of the lender (used to be it goes to the borrower), but is marked as "borrowed". + +[\(Apologies for the bad image\) Before 005, when a share was lent, ownership of the share went from the lender to the borrower, with the lender often in the dark as to what was happening with their shares; this gave openings for rehypothecation and other shenanigans the borrower could do.](https://preview.redd.it/71oiqa5b3m671.png?width=1274&format=png&auto=webp&s=222ab92fe48a0d0c5365a1fe6a2a7a7d87dcba75) + +[With 005 now in effect, when a share is loaned, the ownership is still in the hands of the lender, the borrower gets the share, and the share is marked as \\"borrowed\\".](https://preview.redd.it/iu4ya9sb3m671.png?width=1351&format=png&auto=webp&s=8c89961e59d0e816a166db7242f966f7b2a503cf) + +Through this, you basically can't borrow the same share more than once as well as rehypothecate the shares (meaning you can't re-use the collateral you put up to borrow the share until the share is returned). There's a well written and in depth post that explains it better than I could [here](https://www.reddit.com/r/GME/comments/mi3xdt/dtcc_new_proposed_rule_change_dtc2021005/?utm_source=share&utm_medium=web2x&context=3) that you should also look into if you want a better understanding of 005. + +# The Connection: + +So now that we have a gist of 005, we can begin to connect some dots: + +* 005, a rule that is designed to stop a lot of rehypothecation as well as reborrowing of shares more than once, comes into effect. +* The FED ups the reverse repo rate, causing a flood of counterparties looking for treasury collateral to dump a butt load of money into ON RRP, raising the total reverse repo $ amount by over 200 billion. + +Correlation does not equal causation of course, and this is a loose connection, so we need further proof of anything substantial. Well, take a look at [this](https://www.reddit.com/r/Superstonk/comments/o4hzvx/3rd_tiktok_ive_seen_in_the_last_2_hours_about/?utm_source=share&utm_medium=web2x&context=3): + +[Several Chase customers have started reporting that they have -50 BILLION$ in debt. Ridiculous.](https://preview.redd.it/d422ssip3m671.png?width=1920&format=png&auto=webp&s=87ff62733a72ffead7da116e36160b3dcdf10d37) + +At first I was skeptical that this was a true value and that it could have just been a glitch, but here is what u/jaybaumyo had to say regarding this in the comments: + +[So, 50 billion is a specific number to have as a max number in coding, one so specific that it is highly unlikely to be a glitch in this circumstance and likely the result of something else, such as Chase's debt leaking into their customers bank accounts.](https://preview.redd.it/j5u9ef8r3m671.png?width=669&format=png&auto=webp&s=6af155060ef4d3e017c9d41143ce5bb1e70a318b) + +With Chase customers suddenly reporting -50 billion in debt in their BANK accounts, and with BANKS being some of the primary counterparties of FED ON RRP agreements, my theory is that banks have started getting desperate to hide their debt in any way possible so that they can still stay afloat, even if it means putting their customers in danger. 005 being in place REALLY put banks in fear for a couple of reasons: + +1. How overleveraged *they* are +2. How overleveraged hedge funds like *Citadel* are, that we have been theorizing for a while now have been rehypothecating borrowed shares to help reset FTD cycles. + +If a large hedge fund like Citadel goes down(who massively shorted the treasury bonds market BTW), the banks know it won't be long before they become next, so this incentive to use reverse repos helped the demand for treasury collateral become more visible to the public than it already was and helped crystalize what we have been saying for months now. + +But why is all this coming about now, to the extent that it has other than just the incentive? For them to be this desperate about it, they have to be afraid of something that isn't just DTC-2021-005 (which is already bad enough) . Well, what special certain rule \*cough\* *SR-NSCC-2021-002* is possibly coming into effect TOMMOROW that automates margin calls, and is asking for supplemental liquidity deposits DAILY to NSCC's clearing fund from its members for their overleveraged positions? + +If 002 comes into play, it won't take long before the house of cards comes falling down. They're so desperate in fact, their debt has not only started to leak through their customer's bank accounts, but in other avenues as well. + +# The C-Market Connection: + +Banks, hedge funds, hell the whole house of cards are truly on the brink of destruction right now in my opinion. To truly send this point home, I would like for you to have a look at [this](https://www.fox5atlanta.com/news/crypto-currency-confusion-georgia-man-wakes-up-a-trillionaire) as well: + +Quick Edit: changed the source that reported on this story to a more reputable source + +[You're seeing that right: a Georgia man woke up to 1 TRILLION in his account, after investing only 20 dollars in a random C-coin called Rocket Bunny.](https://preview.redd.it/iqso3j3x3m671.png?width=932&format=png&auto=webp&s=22c1a4e3c37d6a4aee386f6306d71ee847aca13c) + +Now obviously, he's probably not gonna get to take out *all* 1 trillion dollars, but something is definitely suspicious here regarding the timing of all of this. I mean, do you know how much money 1 fucking trillion dollars is? Who the hell is capable of inflating a random C.C. to the extent that a random guy that put 20 dollars into it got 1 TRILLION out of it? There's only two entities that I believe are capable of such feat, and they are ALSO the ones in massively overleveraged positions: + +1. Banks +2. Hedge funds + +But first: Why use the c-market as a way to hide debt, and how? + +1. The c-market is massively unregulated at the moment which is the perfect place to take advantage of to hide a bunch of money. +2. By inflating random C.Cs, when they take profits it could be used to *hide the true value of the debt itself.* + +Let me explain that second point. Right now, as far as we know the overleveraged positions of these entities are *unrealized losses*. They don't become real losses until they exit their positions. So, by inflating random C.C.s , they're using the profits they gain to report larger assets overall on the books vs liabilities (not reporting on what they did in the C-market specifically of course, they *really* aren't required to report that). Since their losses are unrealized, we have the illusion on the accounting front that they are thriving and don't have much debt when they are *actually on the verge of collapse and are probably using these profits to help cover their losses when they become realized.* + +For the c-market, the manipulation could honestly be a combination of both banks, hedge funds and other entities we may not even know of that are also really overleveraged in the market right now. I just think it makes more sense with banks and the hedgies because: + +In terms of banks: + +* The FED is basically hoarding treasury collateral at this point, so banks and other counterparties can only use so much treasury collateral through ON RRP to report less losses on the books. + +In terms of hedge funds: + +* Hedge funds aren't qualified counterparties (to my knowledge) for reverse repos, so inflating random C.Cs is one of the only ways (besides resetting FTD cycles infinitely through rehypothecation/options fuckery, which we know with DTC-2021-005 in effect is next to impossible to keep doing forever now) that they can continue to stay afloat and give the illusion on the books that they have outstanding financial performance. + +# Conclusion/TLDR: + +I think DTC-005 coming into effect was the trigger for the house of cards to finally come down, and with NSCC-002 coming into effect after approval, we could see some potentially catastrophic effects in the market in the near future. We've already been seeing some debt being leaked into customers bank accounts, as well as in the c-market. Banks, hedge funds, and any other massive financial entity in an extremely overleveraged position are probably shitting themselves right now because they KNOW they don't have the money to support supplemental liquidity deposits DAILY as well as the possibility of an automatic margin call, when they are most likely BILLIONS in debt. If I were Kenny boy, I would grab my mayo and start running for the hills. + +# Post DD Message: + +Again guys, I just want to thank all of you for reading through my DD! :) The messages and support you guys have given me on my last post as well made me genuinely very happy to see, and it made me more motivated to continue to try to make some DD! Hopefully you guys have enjoyed reading through it, and as for me I might hang out in the comments for a bit before going to sleep soon because its about midnight right now where I live. As always, I will try to continue to improve my DD in the future and this DD, as with any, isn't perfect; I am glad this community helps to chizzle my DD into something closer and closer to it though with every post. +On top of that, I’ll have monthly bonuses coming in. My fiancé and I have struggled so hard here lately. We’ll be able to jumpstart paying off our debt and give our LO the life he deserves. I can’t believe this is finally happening; things are finally looking up. + +I was making $10.35/hour to do medical billing; starting Monday I’ll be making $20/hour to do product packaging. Better health insurance, better retirement, better hours. + +For the first time in a long time, I feel like we might actually make it. + +Edit: Holy moly, y’all! Thanks for the awards. But save your money and treat yourselves instead :) +I had a job interview today and got the job but oh goodness... the bullcrap that you have to say just to get hired is just so cringey. + +An important value in my life is to be authentic, honest and down to earth, but when money and jobs are involved I start talking and acting the way they want me to...and honestly it makes me so sick. + +Money makes me desperate and I don't like it. + +I want freedom. Freedom from the rat race. Freedom from the bullshit they make you spew. Freedom to be myself in this scary world. I want to make money on my own terms. + +Today I started a little business of basically buying stuff at ridiculously low prices and flipping them for profit, but even after only one day I realized how hard it is to make any sort of money doing this. It was discouraging and slightly depressing. I'm not afraid of the grind and realize I have to work HARD for my freedom, but man, after today I'm feeling pretty hopeless. + +So this is kinda all over the place but here's my question (s): + +(TLDR): How did you get started? What was your epiphany? What can you do as someone who is trying to escape the rat race and improve his/her finances? +Since u/rick_of_spades banana its been FTD's all over the place. Enought with the nonsense, attention seeking and karma whoring. If you wanna put stuff in your ass you dont need to bet on it. Its your buiseness but we dont need to know about it. Specially we dont need to see you FTD and get banned. +. +But a lot of people like these posts. Its a daily injection of fun. But after 1000 posts its not funny anymore. Only disgusting. +Im speaking for myself only tho I used "we" +I bought on a 2012 Chevy Equinox a month ago. Last week I took it to two different shops and found that the fix was probably temperature door, spent $250 for the diagnostic check. Which is a $55 part but $950 in labor. + +I've called my dealership asking what this warranty that was included in the upfront cost actually covers and he won't give me an answer. No list, nothing. He said "it probably isn't covered"... So I don't know what to do. I can't afford to spend $1200 on a fix. Im moving soon and winter is coming. + +Their has got to be something I can do. + + +Edit: wording +Edit: added warranty card and the quote for repair http://imgur.com/fJEneOg http://imgur.com/5v8GGbm +Stopped stressing about individual holdings and consolidated. + +VTI - 65% + +SCHD - 20% + +O & IRM - 15% + +&#x200B; + +All in my ROTH that gets automatically deposited every month. Roast me. +I'm more of a lurker, barely posted back on wsb, gme and superstonk, and I might have missed info regarding this and I could just be shooting in thin air right now. But in case people do not know, I wanted to cover this, because people **need** to be aware of this. + +As you all know, several brokers have halted trading back in January which caused the MOASS not to happen. These include Robinhood, WeBull, Capital and quite frankly a lot of brokers including mine, Revolut, since I am from France and can't access better ones like TDA or Fidelity. People have been bashing Robinhood a lot and to be honest they deserve it the most out of all the other brokers, but they restricted buying for the same reason, like all brokers. And that was because they did not have the capital requirement. + +This is probably known by everyone who has been here since January like myself. But basically what you need to understand is that: + +When a stock is traded, it takes two days for the proceeds to go from the broker to the clearing house. This is known as T+2 settlement. Within this time, the clearing house requires the broker to front cash or capital guarantees to ensure funds are available through the settlement process. + +BUT HERE IS WHAT PEOPLE MIGHT NOT KNOW + +The required amount of capital is usually around 10-15% of the value of a security’s holdings on broker’s books. However, this percentage can vary based on stock volatility. In the case of GME and AMC, the **DTC had enforced an increase of capital requirements by 250% upon DriveWealth’s clearing partners.** + +This increase means that DriveWealth was obligated to restrict trading in GME , as each stock has its own capital requirement rather than a broker wide requirement. + +[https://hellostake.com/uk/featured-post/understanding-trading-suspensions/](https://hellostake.com/uk/featured-post/understanding-trading-suspensions/) + +The **real reason** the squeeze got **cancelled** was because of the **DTC.** Add this to [u/atobitt](https://www.reddit.com/u/atobitt/) 's House of cards, we can smell how **fishy** the DTC is. + +Given this information, I speculate that the DTC saw the squeeze was about to happen and did everything they could to stop it. All they wanted was to save their asses and not bail the short hedge funds. Since the rally had come from us, the retail investor, they saw an easy way out of this and raised the capital requirements for brokers which in turn forced them to halt buy orders for GME. By doing so, the main GME buying power got essentially almost completely turned off since retail was originaly behind this. This was like **a bell to signal that the "squeeze" was over.** From there some long whales jumped out and most of retail was left holding the bag. What they have done is just market manipulation and how nothing is done is just inacceptable. + +That being said, I have a feeling all brokers knew that the DTC were the ones who raised capital requirements in January, but this Driverwealth broker were the only ones who actually shared this information. I haven't found any US based Broker saying the same. + +That is it from me, I just wanted to make sure everyone knew about this DTC information. + +EDIT: Corrected some terminology to make it clearer. + +EDIT2: Mark Cuban talked about capital requirements in his AMA back in January:"The challenge is not opening the brokerage, the hard part is dealing with success. What fucked up RobinHood is that they didnt have enough cash to handle the number of customers they had, their margin loans and the requirements from the DTCC. They have now raised more than $5 billion and that may not be enough. And its not like they are charging anything for their trades. + +The question becomes whether or not buyers would pay a commission or even a tip to a broker for doing their trades. Crypto has no problem paying a transaction fee, you may have to do business with a broker that charges you so that you dont get fucked in a RH stop the buy type situation again" + +[https://www.reddit.com/r/wallstreetbets/comments/lawubt/hey\_everyone\_its\_mark\_cuban\_jumping\_on\_to\_do\_an/glqsnjy/](https://www.reddit.com/r/wallstreetbets/comments/lawubt/hey_everyone_its_mark_cuban_jumping_on_to_do_an/glqsnjy/) + +EDIT3: Someonefound an interesting interview with WeBull CEO, I've time stamped it where he talks about the DTCC + +[https://youtu.be/4RS4JIEVyXM?t=1113](https://youtu.be/4RS4JIEVyXM?t=1113) + +&#x200B; +People have been saying GME has been following the overall market for weeks now, but they've just been keeping it between $24 and $27.75. Could we be getting near to a market crash, and they're just trying to keep it stable +Finally closed on my first rental property today: a Duplex with 3/2 on one side, and 2/1 on the other. + +https://imgur.com/gallery/1zEkyn1 + +Contractor rehab should be complete in about 3 months, then planning on cash-out refinancing by the end of the year. +My great grandma just moved to a retirement home. My family is selling her house and 40 acres. They are willing to sell it all to me for just the price of the house and give me the 40 acres for free and mineral rights for free. It’s $125,000. The house is old and probably will need major repairs soon. I’m just torn over whether or not to buy and I don’t know anyone who is really knowledgeable about real estate investments. There is an oil boom happening in the area and they are drilling half a mile away. Appraised that I could rent it out for approximately $850 per month. It’s in rural area of Texas but I don’t think finding a tenant would be an issue. Advice? + +Update: My loan just got approved and we are closing on the property. This whole process has got me really interested in real estate investing and I have already read several books. I want to thank y’all for your patience with the newbie and the engagement with this post! I’ll continue to visit this community daily to learn even more. +Hi all, + +First of all, I am discovering this community and it is amazing! So many good advices and kind people! + +I come from a family that earns a decent amount of money but is very unfamiliar with investment. The only investment they are familiar with is buying a house to live in and not paying rent :-) + +They put money their entire life on their saving account with the idea of helping me buy a house in the future. + +Now I know I won’t buy a house in the next 7 years and had the discussion with them and they agreed to just transfer me the money and that I should do whatever I think is best for me with it. It is 100K€. + +I don’t want to leave that money doing nothing. From my readings, all world ETF like VWCE seems a pretty solid choice to put it there and forget about it. + +My questions are: +- market seems very high and I’m a bit concerned by a crash. 7 years is long but not huge. Should I wait or invest in less risky products? (Bonds?) +- if I decide to go with ETF, should I buy 100k tomorrow to enter the market asap or should I buy every month/week a defined sum to average the cost over some time? +- I use DEGIRO broker, any advice on ETF I should look for? +- Any other advice? + +Thank you all in advance! + + +PS: I know it’s already a good sum and I am very lucky for it, but it makes me a bit sad to think that this money would be worth wayyy more if invested during all that time… but better late than never! + +PS2: I now live in Switzerland, for an undefined time which is why I do not wish to buy a house in the near future. + Front-loading the question, why should an emergency fund be liquid? Even in an emergency I won't need it immediately. I have funds invested in stock and bond mutual funds, available in a few days. What's wrong with that? + +Longer story: + +I'm near retirement age. I have an IRA and a brokerage account, both invested in a mix of stock and bond mutual funds. I don't have an emergency fund. In an emergency I'll make a brokerage trade and have cash in a day or two. + +Five years ago I went over my finances with an investment adviser. He helped me with some investment choices but my accounts are self-directed, no not managed by them. + +After talking investments, insurance and a few other items we got to *the question*. + + Him: Do you have an emergency fund with 3 to 6 months cash reserve? + + Me: No, I've got about a month's earnings in my checking account. + + Him: You need to have cash in an emergency fund. + + Me: I can execute a trade and have cash the next day. + + Him: But you need it in an emergency fund, you know, for emergencies. + + Me: Riiiight. OK, fine. Let's move on. + +I didn't create an emergency fund. Flash forward four years to 2018. My furnace failed, replacement cost $5,000. I floated it on a credit card, executed a trade, got the cash and paid off the credit card in full. Two months later I had a medical emergency, spent several days in the hospital. Big bill paid by insurance, but my personal responsibility was about $7,000. I floated it on a credit card, executed a trade, got the cash and paid off the credit card in full. Yes, I paid long term capital gains on the trades with my 2018 taxes, but *that's a good thing*. + +Jump to last week. It's been five years, time to review things again with my investment adviser. I'd throttled back just a bit on stocks, and he was generally happy with my investment choices. We talked dependents, insurance, etc. + +Then we got to *the question*. + + Him: Do you have an emergency fund with 3 to 6 months cash reserve? + + Me: No, I've got a month's slush fund in checking. + + Him: You need to have cash in an emergency fund. + + Me: Why? I can execute a trade and have cash the next day. + + Him: But it's for *emergencies*. + + Me: I had two emergencies last year. Used my credit card for both, executed trades, paid them off. + + Him: But you had to pay taxes on that, right? + + Me: Sure. + + Him: See? If it was in an emergency fund you wouldn't have that. + + Me: Sure. **Moving on**. + +My money was making money. I don't see the need to park some of it in cash. His pitch that I shouldn't earn money on it because I'll have to pay taxes when drawing from it makes no sense to me. + +EDIT: Thank you all! +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). Last ban length: 1,048,576 days + +&#x200B; + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related](https://discord.gg/2sQBNuM). +Noob here. + +Watching BTC fly passed every 1k milestone possible this week. Somehow we are stuck and going down. How is it not impacting us here at all? The charts were essentially a mirror the other week. But they are completely different patterns now. What gives? + +I bought in at 470 and could’ve bought BTC for 9k but elected to wait. Feels like he worst choice ever now. +Building a comprehensive list of value investors to track through 13fs. My question is what are your guy's thoughts regarding Bill Ackman? It seems that he has made good investments in the past, but also some crazy ones too. Thoughts? + +edit: If you beauts want to list other great investors that you follow, I would not mind at all. +Looking to get some insight into this one. + +ATT&T (T) is trading at about $26.61 a share as of friday's close. they are paying a dividend of like $2.08, which equates to 7.82% yield according to yahoo finance. That seems like it kicks the pants off of a savings account. + +It's trading at a Price/Book ratio of about 1, so I don't see how the stock can fall much further? Or can it? + +Its earnings growth is slightly negative (-4% forecasted), and profit margins are low (less than 1%), But its current ratio is .7, although it does have a high debt/equity ratio of 115:1. + +Is the risk that if interest goes up the dividend will go down by an equivalent amount? Its currently at a P/E of 8, although with declining earnings I would consider it a 10 really, or maybe even a 12. Still, a 12 P/E company at book value that pays an 8% yield, what am I missing? + +Thank you + It seems there is a constant need for credit checks when investing in real estate. Say you buy 2 properties, that's 2 inquiries. Then in 6 months you do a cash out finance on both, which can be another 2 inquires. Then you use that money to buy more properties, more inquires. + +Is there anyway to get around this besides using all cash or lumping your purchases/refinances close together so only one credit check is needed? If not, how can you keep your credit score high when this significantly knocks your score? +Hi all, + +As you may already be aware, Marcus by Goldman Sachs have reduced their rate yet again down to 0.4% and there’s simply no value of having significant amount of cash sitting their gathering barely any interest. I’ve taken a chunk out and opened a S&S ISA with HL. I’m looking for inspiration on the types of funds it’s worth investing in that may be potentially undervalued at the moment. I have already placed a good amount in SMT, Fidelity UK, Fidelity US and iShares Emerging Market. Not sure if there are any other areas worth having exposure to at this present moment but I’m open to hear your thoughts. Of course I will do my own research and any decision I make will be based on my own analysis. TIA +I constantly finding myself refreshing stock prices multiple times throughout the day which wastes a lot of time. How often do you guys check your portfolio and any advice that helps you limit the time obsessing over daily stock prices? If it helps I am a long term investor not day trading. Thanks! +**If you haven't read u/Region-Formal's [post today about CItadel's financial condition, you're missing out!](https://www.reddit.com/r/Superstonk/comments/wuwg5f/shitadel_are_in_an_even_worse_financial_situation/)** + +&nbsp; + +Rather than make a lengthy comment on their post, I decided to put together a quick DD to continue the conversation. + +1. Citadel Securities is likely the primary income source for all of Citadel and its subsidiaries (hedge fund pales in comparison, income/revenue-wise, I believe). However... +2. We're unsure of *exactly what* kind of financial condition Citadel Securities -- or Citadel as a whole -- is in because Citadel has almost no reporting obligations. +3. In fact, Citadel is known to pro-actively avoid regulation and disclosure. + * Example: They closed Apogee, a regulated dark pool, to funnel orders through Citadel Connect, an un-regulated dark pool -- Single Dealer Platform which draws on it's internal inventory, as one example of many. (Side note: SDPs are coming under scrutiny from the SEC -- go Gary!) + * Other examples: Citadel stays privately held despite needing funding (i.e. hasn't gone public like it's competitor Virtu) so does not need to disclose financials; they stay away from owning more than the legal amount of shares to make them an "insider" in firms which comes with extra reporting obligations; and so forth. +4. u/Region-Formal pointed out that the parent company of Citadel is Citadel LP. However, they are [one step behind](https://www.reddit.com/r/Superstonk/comments/w0nhl8/did_anyone_catch_that_citadel_advisors_llc_became/) u/Get-It-Got who caught that Citadel parent company changed from LLC to LP in March of this year. Why? +5. Get-It-Got posits that it is because an LP *has fewer regulations than an LLC* -- specifically, that *it is not subject to some of the regulations of the* ***Investment Act of 1940***. +6. Investment Act of 1940, where have I heard that before? Oh yeah, u/thabat 's [Rolling in the Deep Dive](https://www.reddit.com/r/Superstonk/comments/pcklz0/rolling_in_the_deep_dive_hiding_money_in_the/)! Basically, Investment Act of 1940 is about disclosures of international funds and transfers. Citadel is likely skirting these regulations, legally or otherwise, in order to move funds through it's Cayman Islands funds. +7. "Cayman Islands! That's money laundering land!" Yep -- and /u/longjumping_college [beat you to the punch](https://www.reddit.com/r/Superstonk/comments/tl8uow/citadel_is_a_front_for_laundering_criminals_money/) on that one (LJC puts in a lot of time hunting and gathering). +8. And Region-Formal is absolutely right to point out that Citadel shifts funds between its own companies rather liberally. Because remember u/Atobitt 's "The Everything Short"? He caught them using Palafox -- a wholly owned subsidiary -- to execute suspicious fixed income transactions *to themselves* -- wash sales. +9. So technically there are separate companies within Citadel Advisors LP, but without disclosure or sufficient regulation, we have no way of knowing where one firm starts and another one ends -- it's all meshed together. However... +10. To me, Region-Formal's emphasis on the quality of the bonds and the volume of investment intake is ***very much well-deserved; I believe Citadel is in dire straits.*** +11. And remember how I mentioned Virtu? They're publicly held, so you can see how their business is doing as an indicator of how the whole market is looking: [q2 2022](https://s21.q4cdn.com/422114427/files/doc_financials/2022/q2/Virtu-Financial-Inc-Earnings-Release-Q2-2022.pdf), [q1 2022](https://s21.q4cdn.com/422114427/files/doc_news/2022/Virtu-Financial-Inc-Earnings-Release-Q1-2022-Final.pdf) + * **Revenue is down 14%, but income is down 25%**. + * This is likely the case, if not worse, with Citadel. + +**All this points to a consensus with u/Region-Formal: the loans show that CItadel is couging up blood.** + +However... + +* Citadel is in the business of copying it's MM model to various industries, and *is genuinely expanding AFAICT.*~~~~ + * Examples [1](https://www.reddit.com/r/Superstonk/comments/t3vsdt/soo_ummcitadel_securities_is_applying_to_become/), and [2](https://www.bloomberg.com/news/articles/2022-06-07/citadel-securities-virtu-form-crypto-plan-with-fidelity-schwab#xj4y7vzkg) +* For them, cost of "duplicating" their services to yet another venue or product is a non-issue; they are bound to make back whatever their initial outlay was in a relatively short period of time. +* That said, like Region-Formal, I haven't seen any traction particularly in the Crypto space. + * It's possible that after Coinbase's NFT flop, and the ongoing exposure to the Tether debaucle, that major firms are taking a more measured approach to the Crypto-sphere than their initial footholds. But only time will tell. +* But, as I believe that over the past 2 years Citadel has taken on $2B of additional investment (between their 2021 bond issuance, their Sequoia injection, and their 2022 bond issuance) -- **I have seen no product that Citadel has put forward that merits that kind of capital outlay, especially considering the self-disclosed income amount of** ***$7B ~~profits~~ revenue*** (s/o to u/guyfromcanada555 for catching my error) + +#With all that ~~profit~~ revenue, for a *private company that has no dividends*, why do they need to issue (near) junk bonds? + +&nbsp; + +#TA;DR: + +Citadel appears in dire straits. [This section is an edit] + +* Despite boasting $7B in revenue in 2021 with *no dividend obligations*, Citadel has taken on >$2B in financing since 2021. Why? +* Virtu, a corollary for the MM space, is seeing declining revenue *and declining profits* (i.e. profits are declining faster than revenue). +* Also worth noting: there are rumors of Citadel's hedge fund losing clients prolifically (indicated by their publicly announced "locked-in" timeframe), at the same time that their "securities sold but not yet purchased" balance swells. Meaning, if they were planning on using their international funds, i.e. Cayman Islands fund as leverage, the loss of clients means they are drawing down their leverage at the same time their liabilities in un-purchased securities is growing. +* **Shrinking leverage, growing debts & payments, declining revenue, and profit shrinking even faster: Citadel is fukt.** +* u/Region-Formal is pretty awesome + +&nbsp; + +*** + +rehash from [Sun Never Sets on Citadel pt. 4](https://www.reddit.com/r/Superstonk/comments/veqzr4/the_sun_never_sets_on_citadel_part_4/) + +*** +#4.9 All the Sun Touches, II + +Now, let’s roll this up into some key points that this fantastic community has uncovered the past year-plus: + +1. u/Criand showed out how Citadel [leverages](https://www.reddit.com/r/Superstonk/comments/pb22oj/the_puzzle_pieces_of_quarterly_movements_equity/) **swaps** +* And u/con101smd pointed to how Citadel likely employs **krypto** (before deleting “The Long Con”) +* It’s also important to note that Citadel has an **adjacent hedge fund**. *Extremely* important. +* Because remember how u/atobitt caught Citadel **shifting funds between different Citadel companies, partners, and subsidiaries**, such as Palafox? (in the “Everything Short” in another sub) +* And u/thabat theorized how Citadel might be **shifting assets between countries** [without disclosure](https://www.reddit.com/r/Superstonk/comments/pcklz0/rolling_in_the_deep_dive_hiding_money_in_the/)? (and u/P_mage did some [work here also](https://www.reddit.com/r/Superstonk/comments/sx2tka/the_shorts_never_covered_or_closed_kiting_a_hot/), not to mention that one flight to [“Russia-not-Russia”](https://www.reddit.com/r/Superstonk/comments/skbb4y/any_fins_in_the_area_willing_to_get_us_a_tail/) right before war & sanctions) +* And we already covered Citadel’s **extensive international operations** and impressive **spread of products**. + +…all this plus Citadel’s **unequaled MM responsibilities in stocks and options and immense internal inventory**. + +&nbsp; + +Now, let’s add a *VERY* interesting quote from u/Super_Share_8721’s [excellent find ](https://www.reddit.com/r/Superstonk/comments/tt7td2/holy_sht_article_from_2001_ties_ken_griffin_and/)(and I see you u/JustBeingPunny [!](https://www.reddit.com/r/Superstonk/comments/u3qm9z/kenny_admitting_to_using_bcg_to_spy_on_other/) - BTW it was only a partial quote earlier): + +* [key quote](https://i.redd.it/92frvoabgm491.png) + + > “’[Ken Griffin has] built an extraordinarily diverse organization, **horizontally and vertically integrated.** It’s something with franchise value, which makes him different from 95 percent of the companies **classified** as hedge funds.’” [emphasis mine] + +&nbsp; + +**Now put it all together:** + +*So, Citadel is at the heart of markets worldwide with unparalleled price influence, shifting assets between partner companies and subsidiaries, bundling stocks, bonds, options, other securities, commodities, krypto, real estate, ETFs, access to SDPs, ATSs, nearly unlimited inventory, PFOF, international asset holdings and distributions, swaps (bundled because Citadel is “horizontally and vertically integrated”)…* + +*…into EXOTIC products...* +*…pass them through their [international connections](https://www.reddit.com/r/Superstonk/comments/tl8uow/citadel_is_a_front_for_laundering_criminals_money/)…* +*…and offer them to “Real Money” clients?* + +&nbsp; + +>!**Citadel is likely acting as an unregulated, backchannel *de facto* Prime Brokerage Investment Bank**!< + +>!They are likely bundling their offerings and services – including price influence – into exotic financial products…!< + +>!…and selling these to clients. Brokers like Charles Schwab and Robinhood. Hedge funds like Melvin and Sequoia. [Running IPOs for companies.](https://www.businessinsider.com/how-citadel-securities-dmms-are-handling-ipos-remotely-2020-5). Likely funneling the business through their [adjacent hedge fund.](https://www.bqprime.com/markets/griffin-s-citadel-beats-multistrategy-rivals-gaining-26-in-2021)!< + +*** + +*** + +#Kudos, u/Region-Formal ! +This is Part 4 of the series since I can't post too many pictures in one post. + +[Part 1: Major assets vs. GME](https://www.reddit.com/r/Superstonk/comments/vyv5xl/part_1_critical_margin_theory_shown_in_price/) + +[Part 2: The behavior of "normal" stonks](https://www.reddit.com/r/Superstonk/comments/vyv7u2/part_2_critical_margin_theory_shown_in_price/) + +[Part 3: Basket stocks in comparison](https://www.reddit.com/r/Superstonk/comments/vyv8ri/part_3_critical_margin_theory_shown_in_price/) + +[Part 4: Kenny's world is crumbling](https://www.reddit.com/r/Superstonk/comments/vyv9x4/part_4_critical_margin_theory_shown_in_price/) + +# Summery of Parts 1 - 3 & Introduction to Part 4 + +This is essentially one continuous post, that I had to split into 4 parts due to the limitation of the number of pics allowed per post. I highly recommend checking the other parts as well. + +We've seen how GME acts in relation to major assets and how it is prevented from crossing a certain price ratio, seen how "normal" stocks look like in comparison but also how other basket stocks behave. + +This is where things get spicy. + +The big question becomes: **Why** is GME prevented from crossing a certain price ratio with most major assets? And more importantly: Where exactly did Kenny get his lil PP stuck in this big ass jar of mayo? + +# Critical Margin Theory + +The answer is probably quite simple really. It can't just be explained by GME itself because in each of those charts there are **two** factors involved: GME itself and some other ticker that is **not** a constant. + +Since the second ticker in those charts is not a constant but a variety of different and (more or less) unrelated assets such as indices like SPY, QQQ, US2000, futures, crypto and what not there should **not** be such a connection for each of them with GME in the form of a line (=price ratio) that it clearly bounces off each time. + +The most logical explanation to this relation is probably the simplest: + +* They're all collateral for their massive short positions. When GME has a run up they risk having their shorts under water and getting margin called (the "critical margin line" apes have been posting). +* To kick the can down the road they either short GME back down (costly or digging their graves deeper with synthetics) and/or pump all those other major assets they are using as collateral to keep a certain ratio (also costly when others are cashing out due to an economic downturn). And yes many people noticed already that as GME went up (e.g. on positive news), the whole market suddenly turned green shorty after, even on negative global/economic news, such as yesterday. + +But is there a way to get a clearer picture of this? Let's have a look at... + +# Shitadel's portfolio of long positions aka collateral + +Well we can go back and have a look at individual stocks Kenny keeps in Citadel's portfolio of doom, see how they relate to GME and check whether we can see any connection there as well. (Disclaimer: due to the 20pic limit per post I'm not including all their longs but it's still a big chunk.) + +&#x200B; + +[AAPL\/GME](https://preview.redd.it/qg8xsq18zib91.png?width=1243&format=png&auto=webp&s=b056e5e1312f143947ad2e7978ac394f6a95523b) + +&#x200B; + +[ADI\/GME](https://preview.redd.it/d5fircodzib91.png?width=1243&format=png&auto=webp&s=70dfc535b7df2e5f4d7fe667fd0e0c12c5074506) + +&#x200B; + +[AMD\/GME](https://preview.redd.it/3rlkq7gezib91.png?width=1243&format=png&auto=webp&s=21d223236b25c76d4f8f10de873f5934fac4c9a3) + +&#x200B; + +[AMZN\/GME](https://preview.redd.it/w0sk5abfzib91.png?width=1243&format=png&auto=webp&s=19cf7f7e90b98aacbad219fb1d3f168fd939fac7) + +&#x200B; + +[BABA\/GME](https://preview.redd.it/b0knvn3gzib91.png?width=1243&format=png&auto=webp&s=b0470308b0c3e598f44f2dd994628dce8f5822ce) + +&#x200B; + +[DHR\/GME](https://preview.redd.it/jv69o9zgzib91.png?width=1243&format=png&auto=webp&s=10835cb8b068c451e7d48cc7f5c82241043ed7fe) + +&#x200B; + +[KO\/GME](https://preview.redd.it/o13av1vhzib91.png?width=1243&format=png&auto=webp&s=4eb583889e63023461b2f2e90308d9a76af7bd67) + +&#x200B; + +[LOW\/GME](https://preview.redd.it/jqjp84zizib91.png?width=1243&format=png&auto=webp&s=a0c15693864e9ccb95a21b6dab75f7bd8ef5816d) + +&#x200B; + +[MCD\/GME](https://preview.redd.it/amvd1fujzib91.png?width=1243&format=png&auto=webp&s=f8d802f9cd4109ae6f472aac070db997e43b95f3) + +&#x200B; + +[MSFT\/GME](https://preview.redd.it/luqteihkzib91.png?width=1243&format=png&auto=webp&s=3f12cbf724cd2eac6cd1d5dd24bd41f90f1e1f3f) + +WELL FUUUUUCK ME, all of them play along. All of them display this clear as day trendline, which should not be happening naturally when putting several completely differing and disconnected stocks in relation to GME. + +Again: kind of similar charts **are** to be expected since one of the two factors is always the same. But an obvious trendline, which again in this case means a "price ratio", across so many different assets should **not** be there. Unless there is a connection between all of them. Which in this case we already kind of knew there is. Meet Kenny. + +# But Kenny's world is crumbling... + +It will be interesting to see how long they can keep this up for and avoid getting margin called. Just take another look at the SPY/GME chart again (see part 1), which after all is representing both the broader market as well as being one of Kenny's longs: Yesterday was the first day since June 8th 2021, where we visibly broke through the trendline. Unsurprisingly they pushed us back up a hair above the trendline just before close. I assume because Kenny was afraid of Marge or something? + +Anyway, as you see in Kenny's charts of continuous pain above, these hold quite well for now (or are just right at the trendline). But from Kenny's longs there are also quite a few that have already broken through that trendline. Big names even, where some are listed in the SPY, which also explains why SPY/GME is also on the verge of crossing. Take a look: + +&#x200B; + +[CRM\/GME](https://preview.redd.it/hhkhd2303jb91.png?width=1243&format=png&auto=webp&s=9b78230aaab81eab5c78f259e3cbce339f4e8ffa) + +&#x200B; + +[GE\/GME](https://preview.redd.it/tya5cp813jb91.png?width=1243&format=png&auto=webp&s=f129c1297510d74da643e4c03649300eedc69dfe) + +&#x200B; + +[GM\/GME](https://preview.redd.it/li9003f53jb91.png?width=1243&format=png&auto=webp&s=295298671110100b64e86581028716642b477c4d) + +&#x200B; + +[GOOGL\/GME](https://preview.redd.it/ndy1drm63jb91.png?width=1243&format=png&auto=webp&s=aacd6a9b84f6f4a4714d9484ecc0409d92dc7bbf) + +&#x200B; + +[META\/GME](https://preview.redd.it/b442ap283jb91.png?width=1243&format=png&auto=webp&s=4c091c8534b05f1b47b847733452106aa46384c3) + +&#x200B; + +[NFLX\/GME](https://preview.redd.it/er485z593jb91.png?width=1243&format=png&auto=webp&s=c1584f5d12744c758605b8b642149c5804e2adee) + +&#x200B; + +[NVDA\/GME](https://preview.redd.it/y8lodv0a3jb91.png?width=1243&format=png&auto=webp&s=c7c744ec8a2ea1f2503d974a6e9cfa6765d08c3b) + +&#x200B; + +[SNAP\/GME](https://preview.redd.it/buc7403b3jb91.png?width=1243&format=png&auto=webp&s=28320a65edb922fb44352ae4c00a5c5b2482c5dd) + +&#x200B; + +[UBER\/GME](https://preview.redd.it/zpwi38zb3jb91.png?width=1243&format=png&auto=webp&s=9d19239974dea19a0e534a25de76e52946471639) + +# Conclusion + +Tick tock Kenny. I see some dead collateral of yours and some that is about to be crossed by GME as well. + +It's a trust me bro moment I reckon, but I have a feeling as u/ultrasharpie also pointed out, that when we truly cross on the SPY/GME chart, shit is about to hit the fan. And to jack your tits some more, if we continue to push through it this week, this will more than likely also coincide with pushing through the bull flag we're currently trading in the normal GME chart. Whoops MOASS or something? + +Well that or they manage to short GME back down again. But with the NFT marketplace, splividend, FOMO and who knows what kind of announcements are about to be dropping soon, I have a feeling Kenny is already starting to choke on his mayo. + +# + +# Edit: The casino is open + +Lets have a look at SPY/GME just after market open. + +[SPY\/GME crossing. Wen Marge call?](https://preview.redd.it/j1sqdzygijb91.png?width=1243&format=png&auto=webp&s=8bab79c35023367c80e0eb768cf1fb58d9ae376e) + +Whoopsie... Also checked some other assets like Bitcoin and they also crossed today. So MOASS is tomorrow. Unless it's today. +I'm 23 and semi live at home with my 22 YO brother and 14 YO brother. I say semi because I mostly stay around at the GFs. We are looking to move into our own place by mid next year. + +For context of our situation, mum has not been home in a few months. Since grandad passed away, she has stayed full time until now at my nans in fear of leaving her alone, leaving responsibility of the house to me and my next oldest brother. I'm the oldest. As the only one working, I have been paying the electric and gas metre, food etc without any financial support from mum. However, over these past few months we've had lots of different letters in my mums name regarding owed debt, and it's a lot when accumulated. Last week we had debt collectors at the door un announced asking for my mother, I told them the situation, and they left as she wasn't in of course and hasn't been in a while. + +For more details, this is the breakdown of her debts (that I know of via letters): +SSE (Electric) - £4,000 +United Utilities (water) - £1,500 + +On behalf of Lowell debt collection: +Morses - £130 +JD Williams - £200 +Vodafone - £233 +E.on Energy - £260 +o2 Lmtd - £305 +Capital One - £311 + +Now I'm not worried about her general debts regarding loans and contracts etc because I've been told by a work agent that I have no responsibility in these debts. However, the debt collectors that came round were that of the water bill and what he said shook me up a little. He stated that anyone over the age of 18 living in the property is eligible for paying back the water debt and gas/electric. This scares me because I didn't know of these debts before these letters, and I'm the only occupant with anything of value, all of which is in my name with proof of purchase, but I feel they are at risk of being taken. + +A little further information on my mums' stance. I've forwarded all these letters to her, and she has a very relaxed attitude towards it. She says she's never paid these type of bills in her life, and it will "get sorted". I told her my fears regarding what the debt collectors said, but she scoffed at it and said it was just them trying to worry me. I'm very disappointed in her attitude towards debt. She's also used my name and my credit to get furniture which she then refused to pay off halfway through the agreement, leaving me to pay it off and still am. Because she heard somewhere that the company we bought furniture from was liquidated, she had the idea she no longer needed to pay despite the payment plan being taken through Klarna in my name and still to this day insists I stop paying them over it. This is the type of attitude she has towards this stuff. + +So what do you think. Am I at risk? + +Edit: thanks alot for all the support and feedback. I've been reading all the comments and I feel a little more comftable. My GFs parents have said they'd happily accommodate me temporarily till we get a place of our own which we hope will be by mid next year. Despite some.of your concerns I wont be cutting ties with my mother. She can be pretty awful sometimes but I couldn't do that to her but I will make it very clear this is her mess to sort out. I've also made sure my credit is clean via credit Karma. No unknown credit agreements aside from the mentioned above in my name. + +I've also spoke with a DWP worker who tutored me a few years back and he have asserted mostly what has been said here. +\*long post\* + +Hi guys! + +Today I'm going to be talking about a pretty boring dividend payer: Quest Diagnostics. They've seen a good run-up during COVID and they showed up on a PE screener I ran recently, so I figured I'd check it out. + +**Business** + +Quest is the world's leading provider of diagnostics and testing. They actually end up serving about the equivalent of one-third of the American adult population every year which I find staggering. They've seen a spike in revenue (see revenues section for more detail) during COVID as they were the first actor in the testing space. Normally, I'd go into more detail by breaking down their various business segments, but Quest only operates in one segment so this section will end up being short. + +**Growth Strategy** + +[TTM Revenue 12/31/10 -> 12/31/20](https://imgur.com/gallery/YYI1qTz) + +As you can see, after 9 years of stagnation, Quest finally got a major pickup from COVID. Now, they have to take this opportunity to continue growing. They document some of these strategies in their recent 10K. To cut through the corporate jargon, I'll summarize the 4 points: + +1. **Strategic Acquisitions:** Besides providing an opportunity to grow, acquisitions allow Quest to extend its footprint further. Personally, I think an attempt to break into foreign markets could be good if done right, however, this would be very difficult due to varying regulatory standards. +2. **Partnering with Others:** The idea here is simple. By partnering with health plans, IDNs, etc, they can increase market share and become a go-to provider for advanced diagnostics tests. They've been successful in implementing this thus far as evidenced by a 2020 Anthem partnership. +3. **Provide more Tests:** Nothing much to add here, it's pretty self-explanatory. By offering more solutions, they can drive growth through more facets. +4. **Increase usage of their consumer solutions:** Quest saw large growth in their QuestDirect platform. QuestDirect is a consumer-initiated testing platform. This means that you can order tests to do at home or a Quest Patient Center or you can ask questions online. + +**Revenues** + +[TTM Revenue 12/31/15 -> 12/31/20](https://imgur.com/gallery/OU9lCd0) + +Quest has grown revenue 22.12% YoY, 27.57% over the last 3 years, and 26.03% over the last 5. Just by looking at the chart, you can tell that a large portion of growth came from the pandemic, but quantifying that makes that fact even more apparent. + +Moving to Net Income, you're met with the same story on a more drastic scale. YoY, Quest has increased net income by 66.28%. Quest has grown net income by 85.71% over the last 3 years and 101.41% in the last 5 years. + +**Margins** + +Quest currently has a net margin of 15.16%. This is encouraging compared to their historical margins. 3 years ago, their margin was 10.43% and 9.42% in 2015. Comparing that with its competitors, Labcorp has a net margin. of 11.13%, Buffett favorite Davita has a net margin of 6.70%, and Abbott had a net margin of 12.99%. + +**Assets/Liabilities** + +[Total Assets 12/31/15 -> 12/31/20](https://imgur.com/gallery/OsVbxNQ) + +[Total Liabilities 12/31/15 -> 12/31/20](https://imgur.com/gallery/CHGjnJB) + +As you can see, both Total Liabilities and Total Assets have increased about the same amount over the last 5 years. The only difference here is that they have significantly more assets than debt. They have a current Debt/Equity ratio of 0.59x and interest payments are well covered. To look a little deeper, subtracting long-term debt of 4.01B from total liabilities of 7.22B and we see that Quest has 3.21B in short-term liabilities. Quest only has 1.16B in Cash on Hand which means that there's 2.05B in short-term liabilities that aren't covered by cash. While this isn't amazing, it's expected and I would be very surprised if this wasn't the case. + +**Free Cash Flow** + +Quest has grown Free Cash Flow by 71.94% over the last 3 years and 184.41% over the last 5. This is promising as it implies they'll be able to continue dividend growth. Speaking of dividends.... + +**Dividends** + +This is the part you've probably been waiting for, this is the dividends subreddit after all! + +Quest currently pays a 1.92% annual dividend ($2.24 quarterly) which is well above the average health care dividend yield of 1.54%. On top of that, it's a consistent dividend. Quest has a 22.64% payout ratio and had grown its dividend for 9 years prior to COVID. They lowered their dividend 1-cent to $2.21 focus their capital on testing, however, they are back to growing with the next yield being $2.24, 2 cents above their previous highest yield in 2019. + +Quest's next ex-dividend yield is April 6th. + +**Price Ratios/Other** + +This section aims to go over all of the relevant ratios and percentages that didn't fit anywhere else. I'll show the ratios on the chart below, and then I'll break them down. + +&#x200B; + +|Ratio|Quest|Labcorp|DaVita|Abbott|"Good Value" for Sector| +|:-|:-|:-|:-|:-|:-| +|PE Ratio (TTM)|11.20x|9.82x|14.32x|31.78x|<15| +|P/B Ratio|2.29x|2.44x|7.25x|6.23x|<2x| +|P/S Ratio|1.69x|1.67x|1.14x|6.05x|<2x| +|P/FCF Ratio|10.05x|15.36x|9.55x|45.58x|<15x| +|ROE|23.04%|19.47%|39.81%|19.37%|\>20%| +|PM/RG Ratio (My personal creation)|0.58x|1.99x|30.73x|4.30x|<2.5x| + +**PE Ratio** + +I said a "good" number for this sector may be under 15x. The problem is this number cannot be universally applied. While Abbott does supply testing solutions, they are also a supplier of drugs that has grown revenue significantly faster than others and have seen more consistent growth since their spin-off of Abbvie than many others in the testing space, including Quest. + +That being said, Quest has the second-lowest PE in the testing space and looks pretty attractive from this angle. + +**P/B Ratio** + +I said a good P/B Ratio for this sector was under 2. Other than Abbott, many testing providers have exhibited choppy growth and a temporary boost as a result of COVID, so I'd like to see them trading pretty low compared to book value. Interestingly, none of the major testing providers were below 2x. This could mean 1 of 2 things. + +1. Many companies in the testing sector are overvalued compared to book value. +2. My P/B number was unreasonable and arbitrary. + +I'm inclined to believe the latter, but I'd be interested to see what you guys think. + +**P/S Ratio** + +I said a good P/S Ratio was 2x (same as my P/B threshold), and this time, some companies actually qualified. In fact, most of them did with DaVita trading at a low 1.14x P/S Ratio, Labcorp coming in with a 1.67x P/S Ratio, and Quest coming in closet third at a good 1.69x. Overall, P/S Ratios look good all-around. + +**P/FCF Ratio** + +I'm pretty new to using this ratio, but I identified under 15x to be a good multiple. When I Google what a good p/fcf ratio is, the consensus is 20x, but since many of these companies have stagnating revenues, so I decided to hold them to a higher standard. The only two qualifiers here are DaVita and Quest with DaVita coming in at an impressive 9.55x and Quest coming in at a cool 10.05x. So far, these numbers are looking good for Quest. + +**ROE** + +I was looking for an ROE higher than 20% here, and we again saw Quest and DaVita being the only qualifiers with Quest coming in at 23.04% and DaVita producing an impressive 39.81% ROE. If you're going to have potentially stagnating revenues, you should really be good at efficiently generating capital, and that's what Quest is. + +To break down Quest's ROE further, let's look at their historical ROEs: + +|Quest Ratio|2010|2015|2017|2018|2019|2020| +|:-|:-|:-|:-|:-|:-|:-| +|ROE|18.51%|15.73%|16.10%|14.05%|15.47%|23.04%| + +Looking at this chart, we're told a different story. Quest historically never broke 20%, it was only because of COVID that they recently broke through. That means that next year (2022), we could see a return to 15-16% ROEs. Let's compare this trend with DaVita's historical numbers: + +|DaVita Ratio|2010|2015|2017|2018|2019|2020| +|:-|:-|:-|:-|:-|:-|:-| +|ROE|17.82%|5.17%|12.98%|3.70%|24.65%|39.63%| + +While it looks like DaVita had an ROE of above 20% before COVID, this drastic 2019 move can be attributed to UnitedHealth Group's acquisition of DaVita, not an improvement in the underlying business. + +The takeaway here is that these high ROEs are likely temporary, and they will go back to historical levels once COVID is no longer a threat. + +**PM/RG** + +This is a ratio I thought of myself this last week and I'm excited to see what you guys think of it. I wanted to find a ratio that could measure how rational price movements were, however, I couldn't find one. I ended up creating a pretty simple ratio to measure it. While I may change it up in the future, I think it works for now. + +The Ratio works by dividing the price percentage movement over some period by the revenue percentage movement over the same period. So, for example, if ABC's price went up by 50% over the last year and their revenues only went up by 25%, they'd have a PM/RG of 2x. + +I decided to measure price and revenue movements from 1/1/2020 -> now. I put an ideal PM/RG ratio down as being <2.5x. Normally, I'd want to see it be under 2x, however, since testing stocks have been a big beneficiary of COVID, I decided to give a little more leeway. The only two companies that qualified here were Labcorp and Quest. Labcorp had a PM/RG of 1.99x and Quest 0.58x. + +I'm very surprised with Quest's PM/RG. They only appreciated 58% compared to revenue. To me, this could be a *potential* indicator that Quest has been undervalued by the market. + +**DCF Valuation** + +Assuming a -1% 5yr Revenue CAGR, an 8% Discount Rate, a 22.4% EBITDA Margin, and a Terminal Revenue Multiplier of 3.8x, Quest's fair value is $188.48 (a 59.8% upside from the current price of $117.96). Let's go over some other scenarios to give ourselves a range. + +**Bullish Valuation** + +I think I find it highly unlikely Quest will be able to capitalize on the recent increase in revenues to continue growing, but that'll be what I'm assuming in this scenario. + +With a 1.5% Revenue CAGR, an 7% Discount Rate, a 22.4% EBITDA Margin, and a Terminal Revenue Multiplier of 3.8x, Quest has an implied Fair Value of $225.89 (91.5% upside from the current price of $117.96). + +Again, this scenario is **VERY** improbable, but I figured I'd include it just for an idea of the theoretical max FV. + +**Bearish Valuation** + +I'd peg this as unlikely, but plausible. + +Assuming a 5yr Revenue CAGR of -2.5%, a 9% discount rate, a 20% EBITDA Margin, and a 3.5x Terminal Revenue Multiplier, Quest has a Fair Value of $151.86 (28.7% Upside from the current price of $117.96). + +**PE Valuation** + +I use the PE Valuation as a way to sanity check my DCF Fair Value. Using an average 1 year PE of 14.51x and a current TTM EPS of $10.47, we get a Fair Value of $167.83 (43.10% Upside from the current price of $117.96). As we can see, the PE Valuation is pretty in line with the DCF Valuation we came up with above. + +**Risks** + +1. **Regulation:** A large part of the Biden Administration's agenda was based on making healthcare more affordable. While it could be all talk, the Democrats having majority control of the Senate and the House make any regulation Biden proposes is fairly likely to be passed. This could drive down profitability throughout the Healthcare sector. +2. **Competition:** This is going to be a risk no matter what sector you're in. There are a lot of large testing providers, so there's always a chance margins are driven down by a competitor's more effective and cheaper test. +3. **Failure to produce new tests:** The title is pretty self-explanatory. If Quest stops being able to license and create new tests, their revenue growth will slow/stop. The FDA being overwhelmed by COVID treatment/vaccine cases could make this risk a reality. +4. **Failure to defend IP:** If Quest fails to protect their Intellectual Property and they lose the rights to exclusively market their tests, competition will be driving down margins more aggressively than before. + +**Conclusion** + +I'm bullish on Quest. They're significantly undervalued and even with declining revenues being assumed over the next 5 years, they're still trading >35% below Fair Value. Compared to competitors, they've appreciated very little and their safe dividend makes this a good long-term hold. I plan on initiating a position on Monday and have a timeline of 1-3 years. +\*long post\* + +Hi guys! + +Today I'm going to be talking about a pretty boring dividend payer: Quest Diagnostics. They've seen a good run-up during COVID and they showed up on a PE screener I ran recently, so I figured I'd check it out. + +**Business** + +Quest is the world's leading provider of diagnostics and testing. They actually end up serving about the equivalent of one-third of the American adult population every year which I find staggering. They've seen a spike in revenue (see revenues section for more detail) during COVID as they were the first actor in the testing space. Normally, I'd go into more detail by breaking down their various business segments, but Quest only operates in one segment so this section will end up being short. + +**Growth Strategy** + +[TTM Revenue 12/31/10 -> 12/31/20](https://imgur.com/gallery/YYI1qTz) + +As you can see, after 9 years of stagnation, Quest finally got a major pickup from COVID. Now, they have to take this opportunity to continue growing. They document some of these strategies in their recent 10K. To cut through the corporate jargon, I'll summarize the 4 points: + +1. **Strategic Acquisitions:** Besides providing an opportunity to grow, acquisitions allow Quest to extend its footprint further. Personally, I think an attempt to break into foreign markets could be good if done right, however, this would be very difficult due to varying regulatory standards. +2. **Partnering with Others:** The idea here is simple. By partnering with health plans, IDNs, etc, they can increase market share and become a go-to provider for advanced diagnostics tests. They've been successful in implementing this thus far as evidenced by a 2020 Anthem partnership. +3. **Provide more Tests:** Nothing much to add here, it's pretty self-explanatory. By offering more solutions, they can drive growth through more facets. +4. **Increase usage of their consumer solutions:** Quest saw large growth in their QuestDirect platform. QuestDirect is a consumer-initiated testing platform. This means that you can order tests to do at home or a Quest Patient Center or you can ask questions online. + +**Revenues** + +[TTM Revenue 12/31/15 -> 12/31/20](https://imgur.com/gallery/OU9lCd0) + +Quest has grown revenue 22.12% YoY, 27.57% over the last 3 years, and 26.03% over the last 5. Just by looking at the chart, you can tell that a large portion of growth came from the pandemic, but quantifying that makes that fact even more apparent. + +Moving to Net Income, you're met with the same story on a more drastic scale. YoY, Quest has increased net income by 66.28%. Quest has grown net income by 85.71% over the last 3 years and 101.41% in the last 5 years. + +**Margins** + +Quest currently has a net margin of 15.16%. This is encouraging compared to their historical margins. 3 years ago, their margin was 10.43% and 9.42% in 2015. Comparing that with its competitors, Labcorp has a net margin. of 11.13%, Buffett favorite Davita has a net margin of 6.70%, and Abbott had a net margin of 12.99%. + +**Assets/Liabilities** + +[Total Assets 12/31/15 -> 12/31/20](https://imgur.com/gallery/OsVbxNQ) + +[Total Liabilities 12/31/15 -> 12/31/20](https://imgur.com/gallery/CHGjnJB) + +As you can see, both Total Liabilities and Total Assets have increased about the same amount over the last 5 years. The only difference here is that they have significantly more assets than debt. They have a current Debt/Equity ratio of 0.59x and interest payments are well covered. To look a little deeper, subtracting long-term debt of 4.01B from total liabilities of 7.22B and we see that Quest has 3.21B in short-term liabilities. Quest only has 1.16B in Cash on Hand which means that there's 2.05B in short-term liabilities that aren't covered by cash. While this isn't amazing, it's expected and I would be very surprised if this wasn't the case. + +**Free Cash Flow** + +Quest has grown Free Cash Flow by 71.94% over the last 3 years and 184.41% over the last 5. This is promising as it implies they'll be able to continue dividend growth. Speaking of dividends.... + +**Dividends** + +This is the part you've probably been waiting for, this is the dividends subreddit after all! + +Quest currently pays a 1.92% annual dividend ($2.24 quarterly) which is well above the average health care dividend yield of 1.54%. On top of that, it's a consistent dividend. Quest has a 22.64% payout ratio and had grown its dividend for 9 years prior to COVID. They lowered their dividend 1-cent to $2.21 focus their capital on testing, however, they are back to growing with the next yield being $2.24, 2 cents above their previous highest yield in 2019. + +Quest's next ex-dividend yield is April 6th. + +**Price Ratios/Other** + +This section aims to go over all of the relevant ratios and percentages that didn't fit anywhere else. I'll show the ratios on the chart below, and then I'll break them down. + +&#x200B; + +|Ratio|Quest|Labcorp|DaVita|Abbott|"Good Value" for Sector| +|:-|:-|:-|:-|:-|:-| +|PE Ratio (TTM)|11.20x|9.82x|14.32x|31.78x|<15| +|P/B Ratio|2.29x|2.44x|7.25x|6.23x|<2x| +|P/S Ratio|1.69x|1.67x|1.14x|6.05x|<2x| +|P/FCF Ratio|10.05x|15.36x|9.55x|45.58x|<15x| +|ROE|23.04%|19.47%|39.81%|19.37%|\>20%| +|PM/RG Ratio (My personal creation)|0.58x|1.99x|30.73x|4.30x|<2.5x| + +**PE Ratio** + +I said a "good" number for this sector may be under 15x. The problem is this number cannot be universally applied. While Abbott does supply testing solutions, they are also a supplier of drugs that has grown revenue significantly faster than others and have seen more consistent growth since their spin-off of Abbvie than many others in the testing space, including Quest. + +That being said, Quest has the second-lowest PE in the testing space and looks pretty attractive from this angle. + +**P/B Ratio** + +I said a good P/B Ratio for this sector was under 2. Other than Abbott, many testing providers have exhibited choppy growth and a temporary boost as a result of COVID, so I'd like to see them trading pretty low compared to book value. Interestingly, none of the major testing providers were below 2x. This could mean 1 of 2 things. + +1. Many companies in the testing sector are overvalued compared to book value. +2. My P/B number was unreasonable and arbitrary. + +I'm inclined to believe the latter, but I'd be interested to see what you guys think. + +**P/S Ratio** + +I said a good P/S Ratio was 2x (same as my P/B threshold), and this time, some companies actually qualified. In fact, most of them did with DaVita trading at a low 1.14x P/S Ratio, Labcorp coming in with a 1.67x P/S Ratio, and Quest coming in closet third at a good 1.69x. Overall, P/S Ratios look good all-around. + +**P/FCF Ratio** + +I'm pretty new to using this ratio, but I identified under 15x to be a good multiple. When I Google what a good p/fcf ratio is, the consensus is 20x, but since many of these companies have stagnating revenues, so I decided to hold them to a higher standard. The only two qualifiers here are DaVita and Quest with DaVita coming in at an impressive 9.55x and Quest coming in at a cool 10.05x. So far, these numbers are looking good for Quest. + +**ROE** + +I was looking for an ROE higher than 20% here, and we again saw Quest and DaVita being the only qualifiers with Quest coming in at 23.04% and DaVita producing an impressive 39.81% ROE. If you're going to have potentially stagnating revenues, you should really be good at efficiently generating capital, and that's what Quest is. + +To break down Quest's ROE further, let's look at their historical ROEs: + +|Quest Ratio|2010|2015|2017|2018|2019|2020| +|:-|:-|:-|:-|:-|:-|:-| +|ROE|18.51%|15.73%|16.10%|14.05%|15.47%|23.04%| + +Looking at this chart, we're told a different story. Quest historically never broke 20%, it was only because of COVID that they recently broke through. That means that next year (2022), we could see a return to 15-16% ROEs. Let's compare this trend with DaVita's historical numbers: + +|DaVita Ratio|2010|2015|2017|2018|2019|2020| +|:-|:-|:-|:-|:-|:-|:-| +|ROE|17.82%|5.17%|12.98%|3.70%|24.65%|39.63%| + +While it looks like DaVita had an ROE of above 20% before COVID, this drastic 2019 move can be attributed to UnitedHealth Group's acquisition of DaVita, not an improvement in the underlying business. + +The takeaway here is that these high ROEs are likely temporary, and they will go back to historical levels once COVID is no longer a threat. + +**PM/RG** + +This is a ratio I thought of myself this last week and I'm excited to see what you guys think of it. I wanted to find a ratio that could measure how rational price movements were, however, I couldn't find one. I ended up creating a pretty simple ratio to measure it. While I may change it up in the future, I think it works for now. + +The Ratio works by dividing the price percentage movement over some period by the revenue percentage movement over the same period. So, for example, if ABC's price went up by 50% over the last year and their revenues only went up by 25%, they'd have a PM/RG of 2x. + +I decided to measure price and revenue movements from 1/1/2020 -> now. I put an ideal PM/RG ratio down as being <2.5x. Normally, I'd want to see it be under 2x, however, since testing stocks have been a big beneficiary of COVID, I decided to give a little more leeway. The only two companies that qualified here were Labcorp and Quest. Labcorp had a PM/RG of 1.99x and Quest 0.58x. + +I'm very surprised with Quest's PM/RG. They only appreciated 58% compared to revenue. To me, this could be a *potential* indicator that Quest has been undervalued by the market. + +**DCF Valuation** + +Assuming a -1% 5yr Revenue CAGR, an 8% Discount Rate, a 22.4% EBITDA Margin, and a Terminal Revenue Multiplier of 3.8x, Quest's fair value is $188.48 (a 59.8% upside from the current price of $117.96). Let's go over some other scenarios to give ourselves a range. + +**Bullish Valuation** + +I think I find it highly unlikely Quest will be able to capitalize on the recent increase in revenues to continue growing, but that'll be what I'm assuming in this scenario. + +With a 1.5% Revenue CAGR, an 7% Discount Rate, a 22.4% EBITDA Margin, and a Terminal Revenue Multiplier of 3.8x, Quest has an implied Fair Value of $225.89 (91.5% upside from the current price of $117.96). + +Again, this scenario is **VERY** improbable, but I figured I'd include it just for an idea of the theoretical max FV. + +**Bearish Valuation** + +I'd peg this as unlikely, but plausible. + +Assuming a 5yr Revenue CAGR of -2.5%, a 9% discount rate, a 20% EBITDA Margin, and a 3.5x Terminal Revenue Multiplier, Quest has a Fair Value of $151.86 (28.7% Upside from the current price of $117.96). + +**PE Valuation** + +I use the PE Valuation as a way to sanity check my DCF Fair Value. Using an average 1 year PE of 14.51x and a current TTM EPS of $10.47, we get a Fair Value of $167.83 (43.10% Upside from the current price of $117.96). As we can see, the PE Valuation is pretty in line with the DCF Valuation we came up with above. + +**Risks** + +1. **Regulation:** A large part of the Biden Administration's agenda was based on making healthcare more affordable. While it could be all talk, the Democrats having majority control of the Senate and the House make any regulation Biden proposes is fairly likely to be passed. This could drive down profitability throughout the Healthcare sector. +2. **Competition:** This is going to be a risk no matter what sector you're in. There are a lot of large testing providers, so there's always a chance margins are driven down by a competitor's more effective and cheaper test. +3. **Failure to produce new tests:** The title is pretty self-explanatory. If Quest stops being able to license and create new tests, their revenue growth will slow/stop. The FDA being overwhelmed by COVID treatment/vaccine cases could make this risk a reality. +4. **Failure to defend IP:** If Quest fails to protect their Intellectual Property and they lose the rights to exclusively market their tests, competition will be driving down margins more aggressively than before. + +**Conclusion** + +I'm bullish on Quest. They're significantly undervalued and even with declining revenues being assumed over the next 5 years, they're still trading >35% below Fair Value. Compared to competitors, they've appreciated very little and their safe dividend makes this a good long-term hold. I plan on initiating a position on Monday and have a timeline of 1-3 years. +Vitalik highlights the importance of decentralisation when considering scaling proposals. + +https://ethresear.ch/t/scalability-with-block-creation-by-a-random-masternode/884 + +"EOS’s scalability is NOT because of DPOS or anything similar; its claimed scalability comes entirely from the fact that it requires each node to have a much higher computational capacity, making it impossible for anyone but large businesses to run full nodes. We could do that too, but won’t because it’s contrary to the goals of decentralization. + +Asterisk: it’s actually a totally reasonable strategy… inside of a Plasma chain. Hence why there’s https://github.com/ethereum/plasma22, https://github.com/ethereum-plasma23 and several other projects. " + + +I know a lot of peoples thoughts on this topic, so let me start by saying - I know how incredibly lucky I am! I was never spoiled by my parents growing up and their offer to help me with a house deposit was the most surprising thing I’ve ever heard. It literally came out of the blue. Dad explained to me that he would rather be alive whilst I receive inheritance but would only want it to go towards something like house. He will be semi retiring soon and selling his share in the family business that he is apart of with his brothers. He is expecting to get a large sum of money and has most generously offered me 500k - 600k for a place in Sydney. All he requires is that I build a granny flat for him and mum when they come over for holidays. + +My questions are, for those who have done this, how does this process work? + +If any, what problems did you run into? + +Should I wait a year or so to see what happens with property prices? + + +Any other input would be greatly appreciated. Thank you so much! +Just a quick rant, walking from work to the train station (which is about a 5 minute walk) I counted at least 5 different adverts for these services. Now most of the banks and pay pal are in on it too. Setting up lots of people to get into bad spending habits. I realise in some instances these services can be useful but most of these are just aimed at people going into debt for discretionary spending. +In the beginning Bingus created the heavens and the earth. There was darkness in the BSC, so Bingus said let there be light, and there was light. Green candles the size of stars were lit. + +Bingus then made the sky and the oceans, he filled them with creatures who became memes, but none were as cute as the supreme Bingus. + +On the 7th day (today) Bingus didn’t rest, because he isn’t lazy. He’s out there as cute as ever and working for his loyal followers. + +During the creation, Bingus made a garden where all memes could flourish. Two of his creations Grumpy Cat and Hoge lived here, but tempted by a red snake who took the form of a red candle, they became exhausted and left the garden to peruse a life of sin and temptation. + +Though Bingus was displeased he bestowed on the world the ability to save real animals, and not just memes. He gave us the power to give freely to charity when paying tributes to the Great Bingus. When giving him gifts of BNB his loyal followers would receive tokens of wealth, whilst he simultaneously gifted his accrued tributes to animal rescue charities. These charities became [thankful](https://twitter.com/forgottenanimal/status/1380265449049485322?s=28) for Bingus and his compassion. Though Bingus was grateful for the thanks he received he made it be know that he will always give, without need for praise, for he is Bingus. + +And thus is the creation story of the benign Bingus, the new saviour of our Kingdom of Crypto. Hallowed be thy name, give us profit to gain. + +[New shrine to Bingus: bingus.finance](https://bingus.finance/) **(New website)** + +[Charity Donation 1](https://imgur.com/GjMOBt5) **Wright-Way Animal Rescue** + +[Charity Donation 1](https://imgur.com/a/Evvmvah) **Forgotten Animals Rescue** + +[Discord](https://discord.com/invite/qKdZdd558F) + +Disclaimer: I’m Oryx, you can find me on the [Telegram](https://t.me/bingustoken2official). I’m part of the promotion group on the Bingus telegram and I do some low-effort memes (see post history). I’m personally involved in the project for two simple reasons, I love crypto and love animals. My long-term goal is to open an animal rescue, ideally with money I’ve made from crypto. + +If you want to buy Bingus tokens you can **trade** on pancakeswap by clicking [here](https://exchange.pancakeswap.finance/#/swap?outputCurrency=BNB&amp;amp;amp;amp;inputCurrency=0xdA20C8a5c3B1AB48e31ba6e43f0F2830E50218D8). + +**Charts** are available [here](https://charts.bogged.finance/?token=0xdA20C8a5c3B1AB48e31ba6e43f0F2830E50218D8). + +You can also place a **Buy Limit Order** [here](http://bogged.finance/trade) + +r/bingus + +Bingus giveaway on **Twitter** [@BingusToken](https://twitter.com/BingusToken) + +There’s a 3% fee on pancakeswap. 1/3 goes to the charity pot, 1/3 to holders, and 1/3 gets burned. This helps out critters, raises the price, and gives back to all you lovely holders! It’s **win-win-win!** + +Market cap: ~$3M +UPDATE: 01:30GMT - $4.4M market cap +UPDATE: 12:00GMT - $5.7M market cap +In just under 24 hours we’ve nearly doubled the market cap. +I recently had a family friend notify me that they received mail at their address that was addressed to me. Please note that neither I nor my car have ever been associated with this address. I also live in Virginia and have lived at the same address for the last 5 years. I am registered to vote at this address and the Virginia DMV knows that I live at this address as well. + +The mail this friend gave to me this week turned out to be a collection notice regarding an unpaid DC speeding ticket that was issued on 6/30/19. + +From my research online, a speeding ticket in DC should only be a maximum of $300, but it can double if it isn't paid in 30 days, which I imagine is what happened in this case. I did verify that the ticket is legitimate on the DC DMV website, but can only find a way to pay the $720. I have checked the DC DMV website and cannot seem to contest the ticket since it's over 6 months late at this point. + +I don't believe I was speeding in the location they say, but I'm certainly willing to pay the ticket if I was. I just don't have the original ticket, or any way to dispute the $720 charge (since it was sent to a completely incorrect address). Again, I'm willing to pay the original cost of the ticket but I don't think that I should be responsible for $720 if it was sent to an address completely unassociated with me. + +Any suggestions? Will I just need to schedule a hearing at the DC DMV to get this cleared up, or is there no point to that since it's been 6 months and has already been sent to collections? If I'm unable to contest it, is this a scenario where I can offer the collection company a "pay for delete" on my credit report? My credit report is sparkling clean otherwise and I'm very concerned about this affecting it. + +Thanks in advance! +Ok, you know that tweet from GMEdd about the `secrets.txt` file in the GameStop NFT release NFT (it's the NFT with an arcade game cabinet with the names of all the people on their blockchain team)... Here's the file, and if you remove `secrets.txt` you get the NFT itself... + +secrets file: https://www.gstop-content.com/ipfs/Qmb74W13FVsp4BFTJVeSxK7viNhPVKse72ay2Si52AKrhw/secrets.txt + +the NFT: https://www.gstop-content.com/ipfs/Qmb74W13FVsp4BFTJVeSxK7viNhPVKse72ay2Si52AKrhw/ + +Okay, now, you _can_ interact with the names and controls on the game, and you can even start a game where you control a rocketship that shoots at incoming asteroids... + +Okay, but instead of doing that, load the NFT and, _with your keyboard_, type the Konami Code with the arrow keys and the B & A keys: + +↑ ↑ ↓ ↓ ← → ← → B A + +You'll get to a screen with a 3D rocket in the clouds and the words "Mission Launch" and you can click & drag it all around... + +Okay, now input the Konami Code again (again, with your keyboard) and you get a 3D ASCII skull with the words "Power to the Puzzlers" Edit 3: And it's click & draggable too... + +Keep digging y'all... I'll bet there's more!! + +Edit 1: I found this rabbit-hole at first thx to [this comment](https://np.reddit.com/r/Superstonk/comments/vxf7dz/i_love_this_simulation/ifvnhwo/?utm_source=reddit&utm_medium=web2x&context=3) by u/b0oya who noted that there's this in the `secrets.txt` file that, when you Base64 decode it, says "Konami code" + +`S29uYW1pIGNvZGU=` + +Edit 1.5: See his post about this here: https://np.reddit.com/r/Superstonk/comments/vxh382/am_going_down_some_deep_rabbit_hole_based_on_the/ + +Edit 2: Okay, if you use your browser's DevTools to inspect the HTML of this page (the one with the NFT on it), you see this in the `<head>` + +`<meta data="UEc=">` + +When you Base64 decode that you get: PG + +...and there's this as well that says "Power to the Players" when you decode it: + +`<meta secrets="UG93ZXIgdG8gdGhlIFBsYXllcnM=">` + +Edit 4: Lots of [Gunters](https://readyplayerone.fandom.com/wiki/Gunter) in this post as well: + +https://np.reddit.com/r/Superstonk/comments/vxfh3o/this_post_from_gmedd_twitter_links_a_file/ + +Edit 5: As several commenters have noted, you can zoom in/out on both the 3D rocket and the ASCII skull... I'm using the scroll-wheel on my mouse to do it, not sure if there's another way... + +Edit 6: I don't have a ton more time to devote to puzzle solving... Also, not super good at it... Be sure to watch the comments for updates -- lots of SMRT ppl working on this still -- and the other posts that are working on it too... + +Edit 7: Been mostly AFK for the afternoon, had a thought tho and just tried it out with no luck, maybe someone else can do better (or else it's nothing)... This is the first I've heard the "Power to the Explorers" phrase... And I know you view blockchain data on a 'blockchain explorer', so maybe there's something we can find when we view a certain token or wallet (etc) on one of the many blockchain explorers (eg Etherscan)....?? + +Edit 7.5: Also, as anyone who has read/seen _Ready Player One_ knows, the first video game easter egg was in the game _Adventure_... Adventure? Power to the Explorers? Eh, seems like Im grasping at straws here, probably going to bed soon... + +Edit 8: See [this comment](https://np.reddit.com/r/Superstonk/comments/vxh4o5/power_to_the_puzzlers/ifx18zv/?utm_source=reddit&utm_medium=web2x&context=3) by u/MoonlightPurity for a great pastebin of data... + +Edit 9: BTW, I have no idea if there's anything left to discover here, just gonna keep trying to journal whatever we find until we discover something or run out of ideas I guess 🤷 + +Edit 10: u/masstransience noted that there's discussion going on in Loopring's #puzzlegang room I guess? I think if you wanna follow the latest wrinkles (because I ran out of them hours ago) you might wanna jump over there... Here's the link, from the 'loopringorg' reddit page: https://discord.gg/invite/loopring + +Edit 11: Some great DD on the rug in [this post](https://np.reddit.com/r/Superstonk/comments/vxhq8t/the_rabbit_hole_continues_the_official_nft_links/)... Probably some other great posts going on out there too, so be sure to look around... + +Edit 12: LOVE YOU APES! Also, thank you all for the updoots and awards 🥰 I'm doing my best to updoot/award/reply to all the comments, etc... + +Edit 13, the next day: Looks like we've figured-out the rug... That may've been the last unknown thing... Unless there's anything else we have yet to discover, or if anyone's already discovered anything new (I'm just reading through my notifications now...) Per u/calforhelp: "u/rarequark has solved the rug portion over on the GME sub. Check their profile for the post." +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. +Background: My spouse and I recently relocated to be closer to family. We are 31 years old have 2 children (ages 2 and 4). I make $100K/year. Spouse stays home but will go back to work in 3 years when both kids are in school. Will likely make \~$30K/year (I'm not factoring this in to our budget though). I'm also not factoring in the $600/month child tax credit we are receiving for this year since we don't know if that will continue. We have 2 newer vehicles (2017 and 2019). One is paid off and one has 12 months of payments left so we don't plan to replace these in the next few years. We are hoping the house we buy will be our long term home as we don't plan to relocate again. + +&#x200B; + +We would ideally like to find a house for $350K or less, however most houses that are reasonably close to my new job (within 30-45 minutes) and are in a good school district are listed at $375K or higher. With the state of the market, we will likely have to pay over asking which is why I am trying to determine our hard limit. $425K seems like it could work for us but still worries me a bit. Here's a breakdown of our assets and budget: + +&#x200B; + +**Assets:** + +**Liquid cash**: $145K (recently made $90K on the sale of our previous house) + +**Retirement accounts**: $160K + +&#x200B; + +**Budget (I keep an excel file of our expenses so these numbers are based on what we've been spending):** + +**Monthly net pay (after taxes/insurance)**: $6600 + +**Investments (401K, Roth IRA, 529s)**: $1200 + +**Car payment**: $370 (12 months left, could pay off entirely if desired) + +**Car Insurance:** $110 + +**Gas:** $150 + +**Food**: $800 + +**Utilities**: $250 + +**Internet/phone bills**: $200 + +**Miscellaneous expenses (household/kids stuff):** $1000 + +&#x200B; + +**Remainder:** $2520 + +&#x200B; + +Speaking with our mortgage broker, we would have no problem being approved for over $425K. At $425K with 20% down, our cash to close would be $93,300, leaving us with just over $50K in cash on hand. The monthly payment, including taxes and insurance would be $1980. This leaves us with about $500 in extra cash outside of our budget each month. + +Is this stretching ourselves too thin? I was hoping to keep our monthly payment below $1800 to leave us with additional cash to increase our retirement investments. However, thinking long term we would really like to pick a house in a good school district for our kids that we can stay in for 20 years or longer. I appreciate any feedback. +Due to the recent drawdowns in technology and growth, people have been calling parallels to the technology boom and bust of 1999-2000. + +First and foremost is the obvious argument that the companies today are fundamentally different from the companies back then. During the 1999 cycle, companies with no profit, no revenue, and sometimes even no product were receiving massive valuations from going public in the stock market. All you had to do is have an idea and put dot com at the end of your name. + +Today, the growth companies look much different. Yes, there's similar froth in the crypto and NFT space, but by growth, I am referring to stocks such as Zoom, Docusign, Teladoc, Paypal etc. All of these companies have massive amounts of revenue with clear paths to profitability in the next 5 years. Some of them are already profitable today and are expanding heavily. + +But beyond this, if you simply look at the state of the market and the numbers, it becomes clear that this is not the same. In the height of the technology bubble, the S&P 500 P/E ratio was 29 with the 10 year yield bonds yielding close to 6-7%. The growth yield on the S&P 500 stocks was close to 3%. Today, the S&P 500 P/E ratio is at 21 with the 10 year yield bond at 1.8%. The growth yield on S&P is closer to 5% today. + +In an environment where bonds are yielding one-third of what they were doing that period, it is not unusual for people to be moving over to equities in order to look for returns. This is especially true in a period when equity growth is already expecting to yield more. + +Now, this is not to say that we are not in a bubble. But I am certain, that we are no where near close to where we were back during the technology mania of 1999. +A little while ago I read a post about the top 100 coins/tokens of coinmarketcap.com are Ethereum tokens. But if you only look at tokens, you'll see that 88 of the 100 tokens are powered by Ethereum. That's a huge number. + +https://coinmarketcap.com/tokens/ +The thresholds are based on the S&P 500 previous day's closing price. + +The level 1 breaker is a 7% decline, the Level 2 breaker is a 13% decline, and the Level 3 breaker is a 20% decline. + +The Level 1 and Level 2 breakers, if they trip before 3:25pm, halt trading for 15 minutes. + +The Level 3 breaker halts trading for the rest of the day if it happens at any time during trading hours. + +I do not know what happens with after hours trading, after a Level 3 breaker especially. Anyone know? + +I would think that in the event MOASS starts, those having to cover shorts, maybe those in line to be margin called but not called just yet, might want this system wide halt to happen. Getting more time and stress to shake apes out of their positions is kind of what they're all about. + +Don't panic if this happens. It could easily happen on multiple consecutive days, and if so, the MSM and everyone, really, is going to be freaking the fuck out. + +Just remember, to paraphrase atobitt: with this squeeze situation, unlike normal market conditions, demand is no longer an independent variable. Meaning those who have to cover don't really get a choice in the matter, their demand level is effectively 100 percent and at any cost, and will have to come to those who hold the supply and pay whatever price the holder is willing to accept to part with his or her shares. Whether the market is closed or not doesn't matter. When it opens again tomorrow, you will still be holding, and they will still be buying at whatever cost is offered. They will have no choice but to hit the ask. +&#x200B; + +https://preview.redd.it/mdorqse355b71.png?width=1600&format=png&auto=webp&s=44da4634d4623a026508d8b3ee43800416d0e9b3 + + Good Morning San Diago, + +I am Rensole and this is your daily news. + +Does anyone smell that? + +\*insert flashy intro card\* + +&#x200B; + +https://preview.redd.it/7g5rc0y555b71.png?width=680&format=png&auto=webp&s=144b3293ae6ab3caa03a81030a682c9d3a6475b8 + +The reverse Repo's + + +https://preview.redd.it/btcnsjaa55b71.png?width=700&format=png&auto=webp&s=af4fe69d3a8f7e8a860eb6fd8da01a675b411427 + +&#x200B; + +&#x200B; + +https://preview.redd.it/dv7lkuxr55b71.png?width=598&format=png&auto=webp&s=d64555cc76eaadca517a05162c1e6d247fcbefa3 + +# Now the SEC won't let me be so they passed new rules yesterday and lets go see. + +Yesterday the CFTC had a meeting and we got a couple of new rules! + +[https://www.sec.gov/rules/sro/dtc/2021/34-92379.pdf](https://www.sec.gov/rules/sro/dtc/2021/34-92379.pdf) + +[https://www.sec.gov/rules/sro/dtc/2021/34-92380.pdf](https://www.sec.gov/rules/sro/dtc/2021/34-92379.pdf) + +[https://www.sec.gov/rules/sro/dtc/2021/34-92381.pdf](https://www.sec.gov/rules/sro/dtc/2021/34-92379.pdf) + +Also our own u/leisure_rules made a post about it [here](https://www.reddit.com/r/Superstonk/comments/ojmur0/extended_summary_cftc_risk_meeting_and_proposals/?utm_source=share&utm_medium=web2x&context=3). + +also it seems that the DTC dropped a lot of rules about options yesterday... someone is prepping themselves for something 🤔 + +&#x200B; + +https://preview.redd.it/phqc92co85b71.png?width=450&format=png&auto=webp&s=4fb7c1baf88f1ea429448715df9b65e636c8123d + +# Someone may have found a link to RC's tweet and Susquahananashaaaa + +[https://www.reddit.com/r/Superstonk/comments/ojfm6n/rip\_dumbass\_tweet\_revisited/](https://www.reddit.com/r/Superstonk/comments/ojfm6n/rip_dumbass_tweet_revisited/) + +it's an interesting read and who knows it may be a refference to it + +# Inflation Alert! + + u/Dismal-Jellyfish made a post [here](https://www.reddit.com/r/Superstonk/comments/ojem8k/inflation_alert_in_june_consumer_price_index_for/) + +&#x200B; + +&#x200B; + +https://preview.redd.it/g63muqgo75b71.png?width=602&format=png&auto=webp&s=dab59d348893ea4fae90d74552f09b22fd4ad78f + +&#x200B; + +https://preview.redd.it/qr3h05qs75b71.png?width=597&format=png&auto=webp&s=90bad03a4dd335cf2987b4650f6702b07f17cdae + +this one is a... yeah Jpow tell us how inflation isn't a thing now plz ? and how? + +&#x200B; + + + +# DTC Membership Update: + +Effective with the close of business on July 13, 2021 JPMorgan Chase Bank, National Association, #0902, will retire the following account: JPMORGAN CHASE BANK/CORPORATE MUNICIPAL DEALER. + +credit to u/Dismal-Jellyfish again <3 + + + + +https://preview.redd.it/bmpcrp9585b71.png?width=945&format=png&auto=webp&s=04f9346e8190a8bae8ebd554e1b52aeab9249d43 + +&#x200B; + +Also before we go just remember, Today is t+35 days from June 9th, the shareholder meeting. + +May be something, may be nothing but I'm playing "row row fight the powa" on full blast today with high hopes. + +&#x200B; + +https://preview.redd.it/lwyvhvqa95b71.png?width=554&format=png&auto=webp&s=0003c75621b7e29e6f863f676f2b9ed245a3b51b + +# EXCELLENT! + +Be friendly, help others! + +as always we are here from all different walks of life and all different countries. + +This doesn't matter as we are all apes in here, and apes are friends. + +Doesn't matter if you're a silverback a chimp or a bonobo. + +We help each other, we care for each other. + +**Ape don't fight ape, apes help other apes** + +this helps us weed out the shills really fast, as if everyone is helpful, the ones who aren't stand out. + +remember the fundamentals of this company are great, so for the love of god if someone starts with trying to spread FUD, remind yourself of the fundamentals. + +There is no sense of urgency, this will come when it comes, be a week, be it a month be it six. + +We don't care, just be nice and lets make this community as Excellent as we can! + +Remember one of the only ways to counter the Cointelpro we have seen is by being overly nice, so treat all the other apes as if you're dating and you wanna get to first base. + +&#x200B; + +https://preview.redd.it/bgqxdy7d95b71.png?width=400&format=png&auto=webp&s=3f038db1f36c3037f43335bcbc13930bd7ce76e2 + + + +remember none of this is financial advice, I'm so retarded I'm not allowed to go to the zoo 'cause they'll put me in the cage with the rest of my ape brothers. + +If anything happens throughout the day we will be adding it here. + +backups: + +[https://twitter.com/rensole](https://twitter.com/rensole) + +[https://twitter.com/RedChessQueen99](https://twitter.com/RedChessQueen99) + +[https://twitter.com/ByeTriangle](https://twitter.com/ByeTriangle) + +[https://twitter.com/u\_sharkbaitlol](https://twitter.com/u_sharkbaitlol) + +[https://twitter.com/BradduckF](https://twitter.com/BradduckF) + +&#x200B; + +Remember today is "bastille day", we might see fireworks, we may see something we may see nothing who knows. +Here's a Motley Fool "article" that came up on my news feed [https://www.fool.com/retirement/2019/01/21/maximum-401k-contributions-are-climbing-in-2019-he.aspx](https://www.fool.com/retirement/2019/01/21/maximum-401k-contributions-are-climbing-in-2019-he.aspx) + +&#x200B; + +And a quote: + +&#x200B; + +>For this reason, saving in your 401(k) has the potential to put you in a lower tax bracket, so you owe a smaller percentage of your income in tax. Currently, single filers making between [$77,400 and $156,150 pay 22%](https://www.fool.com/retirement/2019/01/07/how-will-the-new-tax-law-affect-retirees.aspx) on their income. If you are in the lower end of that range, a 401(k) contribution could move you into the lower bracket, where taxes are just 12%. If you make $80,000 per year, for example, and contribute $5,000, **your resulting income of $75,000 would be taxed at 12% rather than 22%.** + +&#x200B; + +&#x200B; +I’m beginning to learn that for the most part being in the market is more important then attempting to time the market (especially for long term investing), but you can’t be ignorant of buying opportunities and undervalued stocks. I’m not expecting SCHY to skyrocket or crash, but continue steady growth and this has me in the camp of not timing my entry. Is there a common held belief on how to handle a new ETF? Or is there a counter argument to just jumping in without timing the price? Any information would be greatly appreciated and I apologize if my questions are a little scattered. +&#x200B; + +[\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_](https://preview.redd.it/xaq1w5qjwpx61.jpg?width=1432&format=pjpg&auto=webp&s=3141218d0b49a8d4c781c933b50e6162983aa942) + +**Bravo, Bravo, Amazing work!** + +An enormous thank you to both of our wonderful AMA participants. We cannot fully express our gratitude for taking the time to do this. So again, thank you! + +👏🎉 u/dlauer and u/Jsmar18 🎉👏 + +Today’s stream marks the second r/SuperStonk LIVE AMA, and what an AMA it was… WOW. With these AMAs we have a few goals: + +1.To get more eyes on this situation and the blatant corruption within. + +2.To have relevant experts look through our findings with a critical eye, in turn helping us refine our theories. + +3.To get guidance from those who have relevant expertise while providing educational content to help bring more wrinkles to our brains. + +4.To help legitimize this community. Dispelling the falsehood that we are “Dumb Money” + +It is becoming more and more clear that we are making real progress towards change. Not only did Dr.T say this, but Dave Lauer did as well. Our power is in keeping the popular attention towards the issues that we are seeing in our markets. So, if you haven’t already, reach out to your members of Congress explaining the issues, reach out to your local NASAA representative, reach out to the SEC, even writing DD helps… + +Just make your voice heard in whatever way you know how. Also, to that point, **ensure that you participate in the Proxy Vote** if you want GameStop to hear your voice. + +📺Don’t touch that remote!📺 Stay tuned for our Live AMA **next week**. On Wednesday, (May 12 at 4 PM EDT) We will be hosting a renowned Proxy Shareholder rights expert, recommended by Dr.T herself, Carl Hagberg! More details to follow soon. \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +**INTRO - DAVE LAUER’S BACKGROUND** + +* Jack + * Welcome, everyone. So we have our second AMA today, I'm u/Jsmar18, but you can call me Jack. + * I'm here with Dave Lauer, who has some seriously impressive, wide-reaching knowledge. So let's welcome him to the stream. +* Dave Lauer + * Hi +* Jack + * Thanks for joining us today. So we will be covering a really wide range of topics based on some of the questions that have been submitted. + * So, we've got everything from the High-Frequency Trading, Dark Pools Payment for order flow, and more. + * We have an action-packed hour, so, grab a cup of tea. Settle yourself in, and get going. + * To start off, people aren’t going to know your experiences, can you just give us a rundown of your history in the US financial markets and some of your history as well. (?) +* Dave Lauer + * Sure, Jack, thanks and thanks to everyone for tuning in. It's very exciting that there's interest and attention in this space where there usually isn't that much. + * So, my career was primarily technology-focused. I worked at a startup in New York, building extremely high-performance data routing systems, called Middleware systems. + * It turned out at the time, around ‘05 to ‘09, the firms that were most interested in that kind of technology, were these firms called “High-Frequency Trading” firms. Not many people have heard of them, and it was also a pretty interesting time of transition for US markets as reg NMS was adopted and then implemented. + * After doing that for a few years, I saw what was going on on the HFT side of things and said, *“Geez These guys are making a lot of money.”* So I got the opportunity to join one of those firms-- you might have heard of them, a *small* trading firm out in Chicago called **Citadel**. A friend of mine was going there to start a new trading desk and asked me to come with them. I did. + * I moved from New York to Chicago with my wife, and after less than a year at Citadel, (without getting into the details) as a trading desk, we left. We went to another HFT firm called **Allston trading**. Which was actually a smaller firm, and I worked there for almost two years. Then, I left, as I've mentioned before, in 2011, which was a year after the flash crash. + * After trying to get involved in making markets better, not really succeeding. So, I had really intended on leaving finance at that point, almost exactly 10 years ago. I didn't like the industry. + * I built a storytelling website called [CowBird.com](http://cowbird.com/) , which is still online, with a friend of mine. On the site, I told the story of why I left high-frequency trading, someone from NPR heard it and asked me to come on this program called Marketplace. + * So I did that and it was pretty cool. Suddenly, people were really interested in talking to me; like the Senate, the SEC, and some guys in New York who were starting a new stock exchange. I kind of got sucked back in, through no real intention on my part. I found that I could do things on the other side, and maybe help institutions with better exchange design or better regulation and legislative design. Then I started also working for asset managers, so for the last 10 years, until about two years ago, I really just consulted and worked on my own. + * I worked with IEX in the earliest days when the exchange was being designed and built as an ATS. I worked doing quantitative analysis for asset managers looking at how their brokers were using reporter routing algorithms to navigate this incredibly complex market structure. + * I learned of the term market structure which I hadn't known before, which was apparently what I knew, is a very niche space to study. + * I've sort of seen all sorts of different parts of the market ecosystem from high frequency to exchanges, to large broker-dealers, to institutional asset managers, helping them with the best execution. + * I've learned a lot about retail and how that pipeline works. And I've worked with regulators and Congress to help them understand better how modern electronic markets work. For the last couple of years, I've really focused on artificial intelligence which was more of an interest of mine, and really not specifically in finance but sometimes + +&#x200B; + +**TL:DR 🦍 Summary:** + +* **Dave Lauer has an incredible amount of experience when it comes to HFT systems having spent many years building them, then many years operating them, it is safe to say he is an expert.** +* **Dave no longer sees these systems as beneficial for the markets, seeing firsthand what damage they can cause.** +* **Following his time in-and-around High-Frequency Trading, Dave went on to try and step away from the industry, only to get “sucked back in” a soon after.** +* **Now, Dave Lauer works towards trying to improve the markets, even going on to talk about having a seat on the FINRA Market Regulation Committee** + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +**“OPENED MY EYES”** + +* Jack + * That's interesting, that you left mainly based on ethical reasons. + * What about your ethics actually made you decide to leave after the flash crashes? +* Dave Lauer + * Well, I went into high-frequency with maybe a naive romantic notion: + * *This is how you can make markets work, this is the lubricant on the gears of capitalism.* + * If you're a believer in capitalism, which I was, and to a certain extent still am, you believe in that type of philosophy. It felt that this was a somewhat noble pursuit and was also very lucrative so it worked really well in that way. + * The flash crash kind of opened my eyes to this idea that maybe the speed of technology and the incentives in the markets were making things a bit more fragile, rather than more stable and resilient. It seemed like when things worked really well when they worked well but when they're put under stress they really fall apart. + * **I found that kind of disturbing**… + * A little bit after the flash crash, the CEO of the firm came out and he asked for anyone who had any ideas regarding new regulations or thoughts on the markets. He said “we're going to be getting involved, you're gonna have to lobby and do this, so let me know if you have any ideas” + * I went to him with this whole thing I had written up. Saying, “here are the things I think we should change about markets, and even though it might affect our profitability in the short term, in the long run, it's best for markets and therefore, best for the firm”... **he** ***literally*** **laughed me out of his office...** It's not a joke... I think that was when I realized that it just wasn't for me. + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +**FINRA** + +* Jack + * It's really interesting… So, I noticed you're currently on FINRA's market regulation committee, is that right? +* Dave Lauer + * Yeah. +* Jack + * So, I'm interested in-- y’know, we know a bit about the SEC. They’ve been very tight-lipped in regards to the GME incident and all the other meme stocks, but **what kind of role does the FINRA Market regulation committee actually play, in an advisory capacity, for the market?** +* Dave Lauer +* So, it is an advisory committee, it's not like it has any actual authority per se. There are some things that have to go through the committee before they can be proposed for public rulemaking. +* It's just an opportunity to be in front of the people at FINRA, who are policing markets, who regulate markets, who deal with enforcement, who are studying markets. +* I like it as an experience, I think it's quite fascinating, and the way the committee is structured, there are industry members who are broker-dealers so FINRA is an organization that is funded by the broker-dealers and regulates broker-dealers. **That's all FINRA does**, it does not regulate managers or anyone else just the broker-dealers. +* You have industry members and then non-industry, and I'm considered non-industry or independent. We meet three times a year, generally, we talk about new potential rulemaking concerns from the FINRA staff that they want to get our opinion on. +* If there are things happening, you can be sure that those things will come up. It's confidential what happens at the committee, so I can't talk specifically… + +**but the last couple of meetings have been** ***pretty interesting*** **👀** + +* I am not one to hold back or even be guarded about what I say because I don't care. It doesn't really affect me. I don't make or lose money in any way from anything that happens in there, so I usually just tell them what I'm thinking. +* You can see that there are other members of the committee, the industry members or broker-dealers (whose names you would recognize), they generally feel very differently from me and it can lead to some, some *good conversation.* +* Jack + * No surprise there... + * So, one of the actual purposes of the committee is advising on the short sales, as well as trading practices. It might not be your area of expertise, but I think we'd be interested as a community, to understand, + * what is your actual view on the GME situation as a whole? Maybe when it took off in late January… +* Dave Lauer + * Yeah, Jack, like I was saying to you just earlier: I actually went on TV on the BBC to talk about the Gamestop situation, which was the first time I've been on live TV and the first time I had been on TV in quite a while… and If I'm on TV you know things are going weird or wrong. It's not like people call me up when things are going well. + * GameStop has been fascinating from the perspective of the sort of traditional parts of the industry, which I tend to be tapped into. I’ve talked to lots of asset managers, I talked to other market structure experts and aficionados. It's been really incredible to see it. + * At first, it seemed like it was just some kind of crazy retail blip, but, I think, over the last year since the pandemic started, we really started to see this structural change in markets with increased retail participation. I think in many ways it is a very good thing. + * But in some ways, I'm very concerned. I'm very concerned about the way that these apps are structured, the way that they incentivize overtrading, I think that's a big problem. + * I think people who have not seen a market crash, have no sort of understanding of what that can be like. + * To clarify, I am not trying to comment in any way, on what the value of Gamestop is, I have no idea. If I had thought I did, I've been proven wrong time and again**.** That's not what I know. I am not a fundamental analyst or even a technical analyst or anything like that. + * In terms of the way that the markets have handled it, it's been very interesting to see some of the changes that have taken place. + * I do think that-- you mentioned short selling, and I think that short selling is a huge concern in markets now. I believe that short selling is important for well-functioning markets. **But predatory short selling or Naked Shorting is a huge concern**. + * One thing I didn't mention in my intro, I've been doing some analysis of market manipulation using public market data. + * **There's no doubt that we see really significant manipulation in different stocks at different times,** and I can't get into detail but some of the theorized reasons behind it are definitely around naked shorting, or the idea that shares are being re-hypothecated and re-hypothecated, over and over again, lent out and lent out to create far more available shares in the market than the actual float. This is why you can see numbers where you have more than 100% short interest in certain names. + * I'm very concerned about FTDs, and ways of manipulating FTD statistics. **I think that there is something to some of the posts that I've seen on Reddit, that have looked at the options market and tried to understand whether that is a way of covering up fails**. It's actually an analysis that I'm very interested in and may look into myself. + +**TLDR 🦍 Summary:** + +* **Concerns over naked shorting are not just isolated to GME, there are concerns of this across many stocks.** +* **Lending credence to our theories over the manipulation of the Short Interest Data through the options market.** +* **Dave subtly mentions that through his research of public data he has seen significant manipulation in different stocks. Could not elaborate further though.** + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +**SEC** + +* Dave Lauer: +* **I really do think that these are concerns that regulators care about as well.** +* I don't want to make it out that regulators are just not paying any attention, but, it can also be overwhelming when you look at the level of technology and data and complexity to try and regulate these kinds of markets. +* Jack + * Yeah, that's interesting. At least from my perspective, it feels like the SEC, (from a regulatory perspective) is moving kind of slow in the past decade. When it comes to their response to high-frequency trading or dark pools… they have a lag, in terms of when something becomes popular and when they take action into it. + * The influx of retail in 2020 during the pandemic, and then an even larger influx at the beginning of 2021-- **do you think the SEC was actually ready for this to happen?** Can we expect any material changes in the future that would be in response to retail? Something to help put us an equal platform, of sorts +* Dave Lauer + * I don't think anyone expected this, this shift in retail. + * I sit on a Stock Exchange Board in Canada. We've seen very similar things happen in Canada, but **in Canada, retail order flow is on exchange.** + +[🎶Oh Canada🎶](https://preview.redd.it/0yjzk5xqxpx61.jpg?width=1912&format=pjpg&auto=webp&s=76594f500ba199de30cd5635c72044f451bb1a8d) + +* Dave Lauer + * So that's a big difference between Canada and the US. In the US, **even though retail has exploded,** **that volume has stayed off-exchange**. + * And so, **was the SEC ready? I don’t think so.** + * They don't move quickly, if there's anything that I can tell you-- It doesn't mean that they're being incompetent, or deliberately dragging their feet. **They're a government regulator and they move extremely slowly and it's been extremely frustrating for me.** + * When I testified before Congress nine years ago, I set out what I felt were extremely non-controversial ideas for improving markets and increasing transparency. I presented them to the SEC, that same year, and most of them didn't get done. + * One of my ideas took six or seven years to get in place, stuff that nobody would really have disagreed with, in terms of transparency. So, it's just the nature of things, it's very frustrating. + * **But I think that there are some promising signs:** + * **Gary Gensler coming in as chair of the FCC is promising.** He seems to be enforcement-minded, we'll have to see. We've sort of been here before. + * The level of popular attention is incredibly important, + * **If there's something that people can take away from this, it's how can you make a difference or get involved. If you keep attention on these issues, and you keep the SEC and your members of congress aware of your interest. That's the kind of thing that could make them move quicker, and they do respond when there's attention on issues and especially popular attention.** + +**TLDR 🦍 Summary:** + +* **Government regulators move at a snail's pace. This isn’t because they are corrupt necessarily, but rather this is the way of things with regards to the bureaucracy of government.** +* **Gary Gensler coming in as chair is promising, as he seems to be regulation-minded which is exactly what we need right now.** +* **The way to make this stuff move quicker is to keep the spotlight on it. Keep doing what we are doing.** + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +**THE RACE TO ZERO LATENCY** + +* Jack + * Let's move on to one of the more popular topics, which you talk about, And that is high-frequency trading. + * So, back in 2012 in a statement to the SEC roundtable on technology, you basically stated that technology has moved so quickly that most market participants have not been able to keep up. + * Moving into 2021 do you still have that same reception, or is it changed? +* Dave Lauer: + * Yeah, I think so… perhaps even more so. I don't think most people understand what the impact of technology on markets has been. **It has increased complexity, dramatically.** + * I think, because, you have rules and regulations that were for a different era, and most of the current rules and regulations were really set up before electronic trading was as pervasive as it is today. + * So, I think that regulators have really struggled to keep up. And even when they've been able to get on top of issues, they've generally done it from a very simplistic perspective, a very linear way of thinking + * **When you're regulating complex systems and complex markets you need to understand complexity theory and non-linear theory**, that's not something that regulators understand. + * You often see attempts of top-down regulation versus trying to shift incentives, bottom-up and then let the market kind of play out. So I think that the current way that retail trading works-- which is that it all goes to a wholesaler such as Citadel or virtue, that all of that volume is internalized. is an example of something that existed before technology. It probably made sense at that point, but technology has moved along so much that still having that system in place doesn't make nearly as much sense at this point. + * Because of that, I think it's leading to worse outcomes for the entire market. By keeping that kind of volume off-exchange. +* Jack + * I think one of the important topics surrounds volatility as a whole and how High-Frequency Trading has kind of contributed to that. + * The SEC, recognizes that, since the mid-2000s, we've witnessed average trade sizes drop, the market has been fragmented further, and this is all accompanied by a rise in volatility. + * So from 2010 to 2013. It was 40% higher in terms of volatility compared to 2004 to 2006. That pretty easily correlates with the increase in high-frequency trading. + * So my question is, on the volatility front, **does high-frequency trading promote volatility? And if so, how does it actually promote that volatility?** + +* Dave Lauer: + * You can find studies that go both ways, you will find people that can cite studies that show that it has not increased volatility, and you can find the other side. Often, **that can depend on your definition of volatility,** first of all. + +**I think that high-frequency trading in many ways can exacerbate extreme moves**. Here, I'll show one slide. I've got some things, that from time to time might make sense for me to show, let me throw this one up. + +https://preview.redd.it/d4gu1y0vxpx61.jpg?width=3835&format=pjpg&auto=webp&s=e1dd3fc6d894a2b27b1b09f30b2c8fd466375976 + + + +* So, here, this is, sort of, the history of High Frequency Trading. It focuses on what are called illiquidity contagions or flash crashes. You can see that these are four dramatic events. + * The Cable Crash + * Here, the Treasury yield crash in, I think, October ‘05 + * The flash crash, obviously, 2010 + * And another, a Euro response, +* You see these in certain isolated incidents throughout the years, but then you see them happening to individual names even more frequently. +* When we talk about... “**Are regulators up to the challenge?**” The response to the flash crash, and to other sorts of these illiquidity contagions were to Institute ‘limit up, limit down’ rules similar to the futures market. My concern with that has always been that it's more of like a band-aid you're treating the symptom rather than the cause. +* so these things get a little complex, there's a lot going on when you think of the way that markets function, And the way that markets have evolved to need or to incentivize high-speed trading, and, and to really create this “Race to Zero Latency” +* **Latency requirements and competition over latency have increased over the last fifteen years**, in terms of high-frequency trading that’s really since like 2005. +* Which was actually when I started in the industry, *not taking any blame for that.* **What happens when you only have 10 microseconds** for your software to make a decision on whether it wants to place an order in the market or cancel an order in the market. **You don't have a lot of time for complex logic or even risk checks.** +* What happens is the markets and the trading strategies that are profitable start to look more and more like each other. It's called **self-similarity**. +* when that happens, you crowd out other trading strategies, and that's part of the problem as well with off-exchange trading. When trading happens in an internalization system, or in a dark pool, It has to have traded between the national best bid and offer (NBBO). + +**TLDR 🦍 Summary:** + +* **The markets still employ archaic principles that made sense years ago, but now simply hold us back from having the best outcomes that we could achieve.** +* **high-frequency trading in many ways can exacerbate extreme moves** +* **Latency requirements and competition over latency has increased over the last fifteen years - we are talking microseconds for transactions** + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +**NATIONAL BEST BID/ OFFER (NBBO)** + +* Dave Lauer + * Someone had asked on one of the threads, **“what's the national best bid and offer?”** + +https://preview.redd.it/pm53lz8aypx61.jpg?width=3840&format=pjpg&auto=webp&s=3350fcc25855324a515d9e6f4163176d412e5cd6 + +* This is just a quick diagram that shows quotes in the market. Here we've got NYSE, Nasdaq, BATS, and Edge, and each of them has different bids and offers +* The security information processor is the market data system for the industry. It aggregates all that up. If it says ‘well the best bid is on edge, the best offer on NYSE so the NBBO is ‘02 by ‘05. +* That's the CIP is the public data feed exchanges, exchanges also have private data feeds. These are faster, show more information, and high-frequency firms all consume it. +* What happens here is that there are *lit exchanges* + * NASDAQ + * NYSE + * BATS + * IEX +* **These are lit exchanges, and that's what a market is, that's where you get price discovery**. *what's something worth.* +* What something is worth is important to that company because that's where they can raise money-- valuations mean something and they're important, right? **That's what public markets are supposed to do, figure out what something is worth.** +* When you have these lit exchanges, providing a mechanism for price discovery, but then in dark pools and off-exchange trading, you're trading within the NBBO you are free-riding off that lit quote. You're taking advantage of it. +* **In Canada, in the UK, in Australia, this kind of setup where trades go to someone like Citadel or Virtu is illegal.** +* That they don't allow it to happen because **it can damage the lit market.** +* **it can disincentivize market makers.** That's in fact what I think we're seeing, market makers that are disincentivized to post orders or post *aggressive* orders because they know if I post the best bid well then Citadel or Virtue is just going to execute an order based on my price, and I'm not going to get to see it, so why should I improve the bid, Right? +* so that pushes people out of markets. It incentivizes speed, or it incentivizes having captive order flow like Citadel or Virtue you have with all of this retail order flow. +* I think it's very problematic and it leads to **self-similarity**. And **that does make markets more fragile** because we incentivize speed and we incentivize captive order flow, and it leads to exchanges, being the very last destination. + +**TLDR 🦍 Summary:** + +* **Markets are designed to help us figure out what something is worth monetarily, and the NBBO helps with that price discovery.** +* **Lit exchanges (NASDAQ, NYSE, IEX) are where you get price discovery (what is the stock worth)** +* **Dark pools / off-exchange trading (NBBO) just ride off the lit quote but don't affect it** +* **In Canada, in the UK, in Australia, this kind of setup where trades go to someone like Citadel or Virtu is illegal because it can DAMAGE THE MARKET** + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +**THE WEB** + +* Dave Lauer + * So here's another example. This is what markets look like: + +https://preview.redd.it/yxxghmmqypx61.jpg?width=3840&format=pjpg&auto=webp&s=9ac73a5f10a97aaeffa3109d25d5f77a72965350 + + + +* Dave Lauer + * It's nothing like what people have traditionally thought markets look like right? + * You can imagine that when a **broker-dealer gets an order**, they're going to be **sending that order to all of these dark pools** at all of these different places, **And the last place they send that order is to an exchange**, because the exchanges are ended up being the most expensive, and the fewest orders get there. + * **They end up being called “Toxic Venues” or “Toxic Exhaust Venues” this is what our exchanges have turned into.** + * That is very problematic. + * Our markets exist for two reasons: They exist for price discovery and they exist for capital formation, and it means that we've really messed up the price discovery mechanism. +* Jack + * You touched on an interesting point, you say it's more expensive to actually go direct to the exchange, relative to going to a dark-pools. + * Wouldn't it be in the NYSE’s best interest to actually incentivize going directly to their exchange, instead of being routed through a dark pool? +* Dave + * It would… If the NYSE wasn't wrapped up in a prisoner's dilemma. + * To briefly get into game theory. Basically, there is a regulation in US markets, called the access fee cap. + * It says that you cannot charge someone more than 30 mils per share, to buy or sell something on an exchange. + * 30 mils per share means 30 cents per 100 share so that is a regulatorily imposed access fee cap, it's **essentially regulatory price fixing**. + * It was put in place when Reg NMS was, which was finally passed in ‘05 and implemented in ‘07 + * it was basically *‘we see charging 30 cents per 100 so that's going to be the new cap’* and it has not been adjusted, since then. + * What that has led to is every exchange competing over rebates. They want to pay people (other firms) as much as they can to post orders on the exchange. + * They'll get very close to that access fee cap with their rebates, which means that the access fees that they charge for liquidity taking orders. you receive a rebate on most exchanges, if you post an order, and you pay a fee If you take liquidity. + * So every exchange charged this 30 mils per 100. Now you as I think Reddit has learned IEX is not one of those. IEX is what is called a ‘Take-Take’ Venue. 8 cents per 100 shares on either side. + * Whereas, NYSE, NASDAQ, etc. the big market share exchanges, are **Maker-Takers**. + * That is, you get paid a rebate to provide liquidity and you get charged a fee to take liquidity. The exchanges have struggled to reduce costs, because if they reduce the fees that they charge they also have to reduce the rebates that they pay. As long as another exchange is willing to pay a very high rebate, keeping their access fee cap higher, **it's the prisoner's dilemma.** + * This is not like a controversial thing, everyone has recognized this problem. + * **There have been attempts to implement a pilot for example**. *The Trading Fee--* or *The Access Fee Pilot*, which then the exchanges turn around and they challenge in court. + * They have actually sued the SEC for trying to change this, because the SEC wasn't going to apply it to payment for order flow. All of these issues are completely entangled. This is... a complex system + * **You can't simply pull on a string in one part of the system without understanding that there are going to be unintended consequences that ripple through the rest of the system.** +* Jack + * An example of the rebates... the NYSE has a program called Supplemental Liquidity Providers. + * Is that what you're talking about? +* Dave Lauer + * Yeah, that's right, exactly. + +**TLDR 🦍 Summary:** + +* **The market is an incredibly complicated, interconnected web of different exchanges** +* **it's more expensive to actually go direct to the exchange, relative to going to a dark-pool. Labeling exchanges “Toxic Venues”** +* **This is due to access fees:** + * **A fee cap of 30 cents per 100 shares was implemented in 2007** + * **This has led to exchanges competing over rebates** + * **However IEX does not charge this, they charge only 8 cents per 100 shares on either side (buy and sell)** + * **Access fee cap hasn’t changed is forever, leading to exchanges fighting over ‘rebates’** + + \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +**SHOCKING, RAMPANT MANIPULATION** + +* Jack + * We'll move on to some of the more manipulative practices that high-frequency trading is associated with. + * In the early days of the GME saga, post-January squeeze, there was a lot of talk about what Reddit calls “**Short Ladder Attacks**”, essentially it is our way of describing the stock's price being manipulated down slowly with low volume, essentially mimicking organic price movement. + * We came to this conclusion through observing level two, order book data, of some really bizarre block trading. + * Lots being traded back and forth, below bid/ask prices. + * So to me, that sounds eerily similar to **wash-trading**. I know it's illegal, but **is it feasible that these methods still exist, and are being used to actively manipulate markets?** +* Dave Lauer + * **Yes. Without a doubt.** It is unfortunate. + * Like I told you before, I've been starting to look at market data, what you call “Level Two order books”, you can get the historical depth of book market data which is: + * every single order + * trade + * order modification + * ...in the market. I've used it to work with institutional asset managers to help them understand what their transaction costs are for example, but recently **we started to look at it,** **and look for market manipulation… it's there, and it's sort of** ***shockingly*** **rampant.** + * I cannot say a ton about that, but what I have seen is not good... + * It's surprising because regulators are supposed to be looking for this kind of thing, but their systems struggle with the amount of data, the complexity of the data, the timestamp issues, these have all issues for a while. + * FINRA has gotten better and better. I think that if manipulation is taking place and it's obvious like you've described it, **they'll find it…** + * You just tend **not to see the repercussions of it,** right? + * like it's not always an action that gets publicized, it can often be just a fine that gets lumped in with other fines because those same firms did a bunch of other things. + +**TL:DR 🦍 Summary:** + +* **Price manipulation through ‘short ladder attacks’ or wash-trading is still being actively used and it is RAMPANT.** +* **The sheer volume of data on a daily basis helps hide these tactics.** + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +**SPOOFING AND LAYERING** + +* Dave + * **I think that spoofing and layering in markets is a big problem.** + * I can say that just from the experience of constantly looking at market data for those patterns and seeing them relatively regularly. +* Jack + * **Can you please expand on spoofing and layering** for those that don't understand what those are? +* Dave + * Sure. So, you were talking about looking at the level two order book which is, as I explained before, the best bid, and the best offer. + * The bid is the highest price someone's willing to pay for something, the best offer is the lowest price someone's willing to sell it for, and that's the spread between the bid and offer. + * The trades will happen, but above that offer, you can have at each price level a certain amount of volume that someone is willing to transact so as that price gets higher, you can imagine more and more people are willing to sell and as the price gets lower, more and more people are willing to buy. That's what makes an order book. +* Dave + * **So what spoofing is,** so you can know, the way a high-frequency trading system is calculating a micro price for example is the *attempt*. + * So say if the high-frequency system says, OK, I think that GME is worth $180 right now, and it's being bid at $179.80; I can say well I'm gonna improve that bid right as I think it's worth $180. + * So I'm going to put a bid out there at $179.85 because I want people to sell it to me, and I want to buy because I think it's going to go up to $180. + * And I think it's going to happen very quickly so I'm only going to have to hold that inventory for a few minutes before it ticks up a couple of ticks, and as it does I'm gonna have my offers in there at $180 and as it ticks up it's just going to lay off into that, and I'm going to end up flat because most HFT systems **want to be flat** and **they do not want to take on inventory**, they are **operating over very tight time horizons, milliseconds seconds, maybe even minutes but that's a very long time**. +* Jack + * Yeah +* Dave + * Now, if I know that okay that's how an HFT system works and I know it calculates a $180 micro price (because it looked at all the bids in the market), and it seems there are a lot more bids than offers; I can put some bids in there that are not at the best bid so I don't have as much risk of being executed on these orders, ***but I could put a huge number of shares a couple of price levels down and create the appearance of demand***. + * **That's going to make these automated systems** ***think there is demand***, so **they're going to move up but what I'm really trying to do is actually sell, so I'm trying to push the price up into my sell orders** as a manipulator or a spoofer. So **that's what the spoofing is; layering is relatively similar.** + +**TL:DR 🦍 Summary:** + +* **An ‘order book’ is essentially a collection of the highest prices someone will pay to buy, and the lowest prices someone will sell for security.** +* **Depending on volume, if the price rises, more will sell and if it lowers, more will buy.** +* **‘Spoofing’ starts when an HFT speculates the price will rise above the current ‘lit’ price.** +* **The speculation is that this price rise will happen very quickly, and HFT trading systems** ***rarely*** **hold onto inventory even for minutes, but more commonly milliseconds.** +* **To sum up, where an HFT strategy determines the price will increase, ‘spoofing’ is the act of creating artificial ‘demand’ to essentially** ***trick*** **these HFT systems into thinking there is demand and they will then buy a stock en masse.** +* **This in turn drives up the price as the other HFT take the artificial demand as a buy signal, to the point the spoofers sell price is reached, which allows them to sell at a favorable price for a profit. (*****Writer’s edit: Even the bots can be manipulated*****)** + +Part 2: +At exactly 11.50am, there was a massive transaction of roughly 93 million units of spy traded. To put it into perspective, 5 day average is 88 million. + +&#x200B; + +What do you think happened? + +Liquidations? + +options? + +New NSCC rule playing out? + +Personally, I believe it was a transfer of assets to the NSCC/DTC to regain collateral. Some one blew up Archegos style and this time it was someone who is a member of DTCC. + +We will see some news about it in a few days, but I really want to know what you think. + +&#x200B; + +Cheers +Merlyn AI launched their third "meta" ETF yesterday. Just like the previous two (SNUG and WIZ) this is an ETF that uses SectorSurfers algorithms to pick ETFs to hold. + +In short, the theory is something like this: +1) The software determines daily if the market is likely to advance or if there is a higher risk of decline. +2a) If it decides the risk of decline is too high, the algorithm changes to "bear" mode. +2b) If the market continues to be likely to advance, the algorithm operates in "bull" mode. +3) The algorithm then goes through a list of ETFs to identify the momentum leader and select it (Note, it has two different lists, one for Bull mode and a second one for Bear mode, so it will pick a fund that it seems appropriate for the overall market state). +4) At the start of every month, or if the Bull/Bear Indicator changes, the algorithm updates and identifies the current "leader". + +The new ETF, DUDE, has 6 bull strategies and 2 bear strategies, which means it makes 6 of the above determinations each month and picks up to 6 ETFs to invest in accordingly. Unlike SNUG (70% Bonds, 30% Equities in Bull Mode) and WIZ (20% Bonds and 80% Equities in Bull Mode), all 6 Bull Strategies in DUDE are equity based resulting in a 100% equity aggressive portfolio... In Bull mode. + +The ”Sector Surfer Momentum Index" the above results in has been around for a while, and has for a while been one of the ways I have made decisions to invest part of my portfolio, but now they have turned that index into an ETF automating the process for you and making the changes the day the index updates rather than with the day or two delay before you get the index updates. + +So what does this look like right now at launch? + +The Index picked 5 different ETFs to acquire on December 1st: + +* Economic Sectors Strategy 1 - 20% - ARKW +* Economic Sectors Strategy 2 - 20% - XSD +* Economic Sectors Strategy 3 - 15% - ACES +* Economic Sectors Strategy 4 - 15% - ICLN +* Geo-Political Sectors Strategy 1 - 15% - IJK +* Geo-Political Sectors Strategy 2 - 15% - ICLN + +Resulting in the ETF holding + +* ICLN 31.77% +* ARKW 18.91% +* XSD 18.42% +* ACES 15.17% +* IJK 13.71% + +As of right now. + +The obvious downside is the expense ratio, as it adds a 0.85% effective management fee to the current acquired fees of 0.47% for an effective expense ratio of 1.32%. If the expense ratio is too high to your liking, it's of course perfectly possible for you to follow the index yourself and manually make the monthly trades as needed, albeit with with a 1-2 day delay. + +Reason I figured I'd go through the effort of posting all of this is that there are a lot of people here who want to lean part (or all) of their portfolio into aggressive/speculative allocations, but do not necessarily know enough not to expose themselves to extreme downsides and risks in the process. This ETF may not be the most cost effective option out there, but it is much "safer" for the average investor here than buying a bunch of aggressive/speculative ETFs individually and hoping that the moment you chose them was appropriate, which a lot of threads here put people at risk of. + +I'm also curious to see what opinions about this will be, though I imagine for the conservative investors here that maintain that 0% is the appropriate allocation for speculative investment, this option will also not make the cut. 😁 + +Disclaimer: I like this ETF and will likely switch part of my portfolio into it as this will be easier for me and worth the management fee from my perspective. I do not recommend anyone to put 100% of their investments into aggressive/speculative allocations, and therefore would not recommend anyone put 100% of their portfolio in this ETF. Appropriate percentages for aggressive/speculative investments range between 10% and 70% of your portfolio (the latter only for very young investors with long horizons and small portfolios) in total after adding up all of such positions (including this one) but especially if you're going to lean into a relatively higher percentage of such positions, this ETF can help mitigate at least some of your risk. 😅 + + +EDIT: +I just ran an X-ray on the current portfolio it holds, and here's a quick summary of the results (note that this could change dramatically when it rebalances every month!): + +Asset Allocation + +* Cash: 2.43% +* US Stocks: 67.43% +* Non-US Stocks: 29.53% +* Other: 0.61% + +Non-US Breakdown: + +* Developed: 71.7% +* Emerging: 28.3% + +Sector Breakdown: + +* Energy 1.20% +* Materials 0.58% +* Industrials 14.08% +* Consumer Discretionary 6.07% +* Consumer Staples 0.43% +* Health Care 3.49% +* Financials 2.85% +* Information Technology 42.12% +* Communication Services 6.04% +* Utilities 22.18% +* Real Estate 0.96% + +Top 10 Holdings: + +* Enphase Energy 3.04% +* Plug Power 3.03% +* First Solar 2.88% +* Tesla 2.65% +* Sunrun 1.88% +* Ormat Technologies 1.67% +* Meridian Energy 1.59% +* Xinyi Solar 1.57% +* Boralax 1.49% +* Verbund 1.48% +Yes, it's me....back with a second installment in our series, ELI22. This assumes you read [ELI18](https://www.reddit.com/r/personalfinance/comments/4tfc76/eli18_personal_finance_tips_for_young_adults_us/) ( even the links...you'll learn 10X more from the links!) and have done things pertaining to your situation. + +The "22" here means you're done with full-time education, have a career with meaningful income, and are responsible for your own support. Some people start this at 18, some at 26; age is not important. Specifics pertain to the US in some cases. This assumes you are a single childless renter employee; [ELI30](https://www.reddit.com/r/personalfinance/comments/4uoycd/eli30_personal_finance_tips_for_thirtysomething/) will cover marriage, home ownership, and children. + +You have money now, congratulations! Read [this](https://www.reddit.com/r/personalfinance/wiki/commontopics) excellent summary of how to handle it. Here's a [ginormous flowchart](https://i.imgur.com/1rPEkGQ.png) showing what to do first: bills? loans? investments? Good self-study! We'll highlight three Big Ideas to get you started. + +- **Taxes**. Your employee income is taxed / withheld like so: 7.5% of the first $118K goes to [social security/medicare taxes](https://www.irs.gov/taxtopics/tc751.html). (We hope you will benefit in the future, too!) Then your income is taxed at [higher rates](http://taxfoundation.org/article/2016-tax-brackets) as you make more. Assuming no special deductions, 0% for the first 10K due to standardish deductions. Then 10% of the next 9K, 15% of the next 28K, and then 25% tax rate kicks in; this is your rate from 48K to 102K gross income, so a popular rate. (It's only 28% up to 200K, as well.) This is your tax bracket / marginal tax rate. (Most states also have state income taxes of ~6%ish but they vary a lot.) Higher brackets only affect your additional income; [you always come out ahead](http://blog.taxact.com/how-tax-brackets-work/) even if more income means a new top tax bracket. You reduce your taxes with credits and [deductions](http://money.howstuffworks.com/personal-finance/personal-income-taxes/tax-deductions.htm). Big Idea 1 is: [reduce your current taxes](https://www.reddit.com/r/personalfinance/wiki/taxes) by making less of your income taxable. + +- **Debt**. You borrow money now so you can spend it, yay! But then you have to pay it back, and typically pay back more than you borrowed, boo! You've lost money as a result. The extra amount you repay is determined by the [interest rate](http://banking.about.com/od/loans/a/Calculate-Interest-You-Pay.htm); the annual rate is called APR. +3% APR student loan? You'll pay $30 annual interest on $1000. Not bad. +12% APR car loan? You'll pay $120. Not good. + 23.9% APR credit card? You'll pay $239. Yikes! (Never do this!) +You repay the money you borrowed, too; that's called principal. The longer you take to repay the loan, the smaller each payment, but the more interest you'll then pay. It's a tradeoff. Big Idea 2 is: [reduce the amount of interest you pay](https://www.reddit.com/r/personalfinance/wiki/debt) by getting lower interest rates, and avoiding / quickly repaying higher interest debt. + +- **Investing**. In ELI18, I noted bank interest won't make you rich. The good news in ELI22 is: investments can make you [current millionaire rich](http://www.bankrate.com/calculators/savings/save-million-calculator.aspx). The catch is: it takes decades, and you must regularly invest significant sums. This why you start at 22! The ELI22 introduction to investments is based on the [Target Date Fund](http://www.finra.org/investors/target-date-funds-find-right-target-you), wherein you buy shares of a mostly stock-based index fund designed to be worth a lot more when you retire at a target date 40+ years in the future. Historically, these accounts gain about [6% annually](http://www.thesimpledollar.com/where-does-7-come-from-when-it-comes-to-long-term-stock-returns/) after inflation, though it varies significantly year to year. Your money doubles every 12 years, and goes up by 10X in 40 years. (All numbers are after taking inflation into account.) So that $5000 you put aside at 22 could easily be worth $50,000 of today's dollars at 65. (But, there could be years where you temporarily [lose 10%, 20%, even 30%](http://www.finra.org/investors/reality-investment-risk) of your savings. Do not panic! It will come back eventually.) Big Idea 3 is: invest early and often for your future, especially your retirement. + +Got the the Big Ideas now? Good! Let's see how we combine them for some meaningful benefits for your ~22-year-old self. + +- Retirement contributions. You are going to retire someday. Invest and perhaps reduce current taxes by letting your employer contribute a percent of each paycheck to your [401k account](https://www.reddit.com/r/personalfinance/wiki/401k) (or similar things with different names for government employers). A recommended investment percentage is 10%, but it's up to you; more is better, the annual maximum is $18,000. The cardinal rule is [Take The Match](https://www.smart401k.com/resource-center/retirement-investing-basics/company-match) if you have one. A typical employer adds 3% of your salary when you contribute 6%, so that's like Free Money. Take The Match. (Your actual match depends on your employer's rules.) The money is invested for you, available penalty-free when you retire after age 59.5 (usually.) If you change jobs, the money can go with you. A 401k can only invest in what your employer offers. Most employers have target date funds, so choosing one is an easy decision. If you need or want to, you can sometimes achieve an even better result by picking other available choices. + +- "What do you mean 'perhaps reduce current taxes'?" Retirement savings are wery wery complicated. (Thank your congresspeople.) A "traditional" 401k reduces your current taxes because it exempts your contributions from your taxable income. You pay taxes when you take the money out, deferring the taxes, but you still pay something. If you would prefer, you can reverse this if your employer offers a "Roth" option. In that case, you pax taxes on your 401k contributions , but no taxes when you take the money out. The best [choice](https://www.reddit.com/r/personalfinance/wiki/rothortraditional) is complex; for those below the 25% bracket, Roth is usually better. + +- Yet more retirement options: IRAs. [Individual Retirement Accounts](https://www.reddit.com/r/personalfinance/wiki/iras) are do-it-yourself 401ks. You set up an account with a company like Vanguard, Schwab or Fidelity, and give them up to $5500 annually to invest for you. You have more investment choices, target date funds plus other options. Depending on your income level and whether you have an employer 401k, you open a traditional or Roth IRA, with tax treatment equivalent to the previously described 401k types. IRAs are your go-to option if you have no employer 401k, but you still may (and even should) want to use an IRA, especially a Roth IRA, even if you have one. You can tap IRA and 401k resources before retirement for certain allowable reasons, though it's not usually recommended because you lose future gains and might owe current taxes. A Roth IRA is the best choice for raidable retirement savings because contributions can be taken out at any time without taxes or penalties. + +OK. That was a lot of information! Ready to repay [student loans](https://www.reddit.com/r/personalfinance/wiki/studentloans)? Let's find out: + +- If you do have student loans, the interest rate clock is ticking. Loans are typically 10 year repayment, so you'll owe about 1% of the loan balance each month for ten years. +If you owe $20,000, that's $200/month. Like a car payment. Not terrible. +If you owe $100,000, that will be $1000/month. Like a mortgage payment, only without the house. Not fun to pay. +You have to pay these back unless you get them forgiven. You have [several approaches](https://studentaid.ed.gov/sa/repay-loans) available for repayment: + +- Pay them back on schedule. It sounds crazy, but it just might work! If your income supports it, pay the minimum on low-interest (<~4%) loans. If you have even more income, repay them faster with extra payments, especially on higher interest loans, and save by paying less interest than you would over time. This is your primary option on private loans. If you have high-interest private loans, look into [refinancing](https://studentloanhero.com/refinance-and-consolidate-student-loans-0042/) them; if you have good income and credit, you'll qualify for lower interest rates. + +- If you have a lot of federal loans but little income, look into [reduced payment plans](https://studentaid.ed.gov/sa/repay-loans/understand/plans/income-driven) like Income-Based Repayment (IBR) and Pay-As-You-Earn (PAYE) plans. You'll pay less (even nothing) each month, based on your current income, but you'll pay longer, and ultimately pay more over time in many cases. + +- If you are really in a deep hole, maybe over $100K federal with only $40K annual income, give a special look into [Public Service Loan Forgiveness](https://studentaid.ed.gov/sa/repay-loans/forgiveness-cancellation/public-service) (PSLF). This program allows you to work for ten years in public service, make minimal payments, then your unpaid balance is magically forgiven, which is a really sweet deal if you can get it. (This differs from forgiveness programs for IBR/PAYE that will charge you taxes on any amount forgiven in the future.) + +Enough about student loans. Let's wrap up with a few other topics of general interest to 22 year olds: + +- Grad school can be a good idea, but can also be a very expensive idea. If you are sure this is for you, try to get someone else to pay for it, whether the school via scholarships / stipends, or your employer, if they do education reimbursement. Med school is worth the money no matter who pays. Law school and MBA return on investment is iffier these days. Going to grad school because you are not sure what else to do is probably a big mistake, especially so if you have to pay for it. + +- You may be responsible for your [health insurance](https://www.reddit.com/r/personalfinance/wiki/health_insurance). (You could be on your parents' plan until age 26 in many cases, though that may cost them something.) If your employer will pay for it, that's your best option. They may offer a lower-premium [High Deductible Health Plan](http://health.usnews.com/health-news/health-insurance/articles/2014/11/10/should-you-roll-the-dice-on-a-high-deductible-health-plan) (HDHP), where you pay routine costs, but insurance kicks in for major expenses. This is a good choice if you have good health and make few claims. You should take advantage of a [Healthcare Savings Account](https://www.nerdwallet.com/blog/health/what-is-an-hsa/) (HSA) with an HDHP. This lets you deduct contributions to pay for out-of-pocket medical expenses, with other unique features that make them attractive. You can contribute $3350 annually to your HSA. Some employers pay some of this for you as more free money. + +- If your employer doesn't offer health insurance and you can't use your parents' plan, you'll want to get an individual plan such as those found on [healthcare.gov](http://healthcare.gov). You can only sign up at certain times, including open enrollment in November / December. If you don't have health insurance of some form, you could [pay a penalty](https://www.healthcare.gov/fees/fee-for-not-being-covered/) of up to ~$2000 at tax time, unless you have an [exemption](https://www.healthcare.gov/health-coverage-exemptions/exemptions-from-the-fee/). + +- With more income, you can rent a nicer place within the same 30% of takehome guideline. You may not even want a roommate! Of course, any money you spend on housing is money you don't have for other things. Living with your parents is still a viable option if you want to save, e.g. to pay down student loans. Please make sure you have renter's insurance, it's well worth the small cost. (Note that we assume you are not yet ready to buy a house; you may not yet be sure where you want to live long-term, have limited work history, or have insufficient down payment.) + +- You can also afford a nicer car, since you have better credit, and lower insurance rates. (You don't have to upgrade your car, and you'll save money if you don't.) Paying cash is still an option, but if you qualify for a 2% car loan, consider taking it to free your money for purposes like retirement investments and loan repayments. A good target price is perhaps $15K, with a $10K loan, which works out to 4 years at $220/month. Your total cost-of-car would be about $5K annually. Selling your old car privately should get you 20% more than you would by trading it in to a dealer. + +- With more expenses, budgeting becomes much more important. You'll want to have a bigger emergency fund; we recommend at least three months' expenses, to cover that bad day when you lose your job and your car breaks. With more expenses to track, look into a program like [You Need a Budget](https://www.youneedabudget.com/) (ynab) or [Mint](https://www.mint.com/) to help keep track of where your money is, and where it needs to be in the future. Look for ways to economize where you can, whether by cheaper cell-phone plans, learning to cook so you want to eat at home, or taking advantage of employee discounts. + +- While you don't have a lot of tax deductions yet outside of retirement / HSA savings, take a look at possible [tax breaks](http://blogs.hrblock.com/2013/04/08/twenty-somethings-dont-overlook-these-tax-deductions/) for student loan interest, moving expenses associated with a job change, and certain tuition expenses ([American Opportunity Tax Credit](https://www.irs.gov/individuals/aotc)). You don't have to itemize to take advantage of these, but income limits apply in some cases. + +Whew! That was a long one. I think that does it for this week. [ELI 30](https://www.reddit.com/r/personalfinance/comments/4uoycd/eli30_personal_finance_tips_for_thirtysomething/) next week: marriage, children, home ownership, life insurance, job changes. +It's been a good day for price action and seeing ETH climb back up to $4300. I feel it will hover around this price for a few days but curious what everyone else thinks. Do you think it will push to $4400+ or another pullback to $4k or such? + +Disclaimer: We all have no clue what it will actually do and it's pure speculation. Doesn't mean we can't have a fun little chat. Cheers! +&#x200B; + +[The ever-shrinking float](https://preview.redd.it/whlvjhlahwu71.jpg?width=761&format=pjpg&auto=webp&s=e0227bcbcb5b4220e06e7eb458206989d0c2b4e4) + +* Lower the price, and the float locks up faster. +* Let the price run and pay higher collateral costs. +* As the float gets smaller, there are no extra shares to borrow to have your friends assist in the downward pressure. + +MOASS is inevitable at this point if we get our shares locked up in Computer Share. + +Shall We Play a Game? + +The only way for Citadel to NOT LOSE MORE is to surrender. They have already lost. It's just a matter of who else also goes down with this ship. +u/iota_4 is the original person who posted this, thank you!!!!! +(Btw not financial advice yada yada yada, remember monkey TOGETHER strong 🙌🙌🙌💎💎💎🚀🚀🚀🦍) + +i have a message for all fellow apes: + +why aiming exorbitant high (let’s say for 200,000,000 USD) and having a floor at 10,000,000 USD is good..? + +in my opinion, it is necessary to aim that high, bc if not, more apes are going out early and the rocket could fall back.. + +so.. again, i hodl for not less than 10,000,000 USD a share and only selling AFTER the peak, no matter how long this will take. so it means, if the price will get above 10,000,000 USD (like up to around my real aim: 200,000,000 USD) and starting to fall back for, lets say, 20%, THEN i will sell. + +in this scenario i will sell my shares (each share!) in every case for not less than 8,000,000 USD FOR SURE! and this means not, that the rocket will fall back directly after i sold.. every ape has a different floor.. but my advise for myself is 10,000,000 USD as the MINIMUM floor.. for a life changing money for apes! + +to andromeda! . . ✦ 　　　　   　 　　　˚　　　　　　　　　　　　　　*　　　　　　   　　　　　　　　　　　　　　　.　　　　　　　　　　　　　　. 　　 　　　　　　　 ✦ 　　　　　　　　　　 　 ‍ ‍ ‍ ‍ 　　　　 　　　　　　　　　　　　,　　   　 .　　　　　　　　　　　　　.　　　ﾟ　  　　　.　　　　　　　　　　　☀️　　. ,　　　　　　　.　　　　　　    　　　　 　　　　　　　　　　　　　　　　　　  　　　　　　　　　　　　　　　　　　    　      　　　　　        　　　 　　　　　　　　　　. 　　　　　　　　　　.　　　　　　　　　　　　　. 　　　　　　　　　　　　　　　　       　   　　　　 　　　　　　　　　　　　　　　　       　   　　　　　　　　　　　　　　　　       　    ✦ 　   　　　,　　　　　　　　　　　    🚀 $gme　　　　 　　,　　　 ‍ ‍ ‍ ‍ 　 　　　　　　　　　　　　.　　　　　 　　 　　　.　　　　　　　　　　　　　 　           　　　　　　　　　　　　　　　　　　　˚　　　 　   　　　　,　　　　　　　　　　　       　    　　　　　　　　　　　　　　　　.　　　  　　    　　　　　 　　　　　.　　　　　　　　　　　　　.　　　　　　　　　　　　　　　* 　　   　　　　　 ✦ 　　　　　　　         　        　　　　 　　 　　　　　　　 　　　　　.　　　　　　　　　　　　　　　　　　.　　　　　    　　. 　 　　　　　.　　　　 🌑 　　　　　   　　　　　.　　　　　　　　　　　.　　　　　　　　　　   　 ˚　　　　　　　　　　　　　　　　　　　　　ﾟ　　　　　.　　　　　　　　　　　　　　　. 　　  　 🌎 ‍ ‍ ‍ ‍ ‍ ‍ ‍ ‍ ‍ ‍ ,　 　　　　　　　　　　　　　　* .　　　　　 　　　　　　　　　　　　　　.　　　　　　　　　　 ✦ 　　　　   　 　　　˚　　　　　　　　　　　　　　 *　　　　　　   　　　　　　　　　　　　　　　.　　　　　　　　　　　　　　 +**Preamble:** The ability of Congress Members to trade stocks has been controversial from the start. There have been multiple stories covering the 2020 congressional [insider trading scandal](https://en.wikipedia.org/wiki/2020_congressional_insider_trading_scandal) where Congress Members allegedly used insider knowledge to trade large positions in stocks just before the coronavirus pandemic crash. But none of the articles talked about the financial implications of those trades and whether the retail investors could have front-run the market using the disclosed data.  Basically, what I wanted to know was + +**How much did the Senators save by offloading their positions before the crash and could I have done the same?** + +**Where is the data from**: efdsearch.senate.gov + +For my [previous analysis into congressional trading](https://marketsentiment.substack.com/p/copy-top-stocks-of-the-week-614493), I used data from senatestockwatcher.com. But not all the transactions are captured on the website and I wanted to match exactly with the trades reported by famous journals. efdsearch.senate.gov is the United States official website where Senator, former Senator, and candidate financial disclosure reports are available. Some of the data is available as a scanned file and some in normal HTML format. I had to manually transcribe most of the data used in this analysis. + +In case you are wondering about the time delay between the actual transaction and reporting, Congress Members are expected to [report the transaction within 30 days](https://www.citizen.org/article/personal-financial-disclosure-requirements-for-public-officials/). The median delay in reporting that I observed for all the trades was 28 days. + +All the trades and my analysis are shared as a google sheet at the end. + +**Analysis:** + +There are multiple factors at play here. + +Timeline: On January 24, 2020, the Senate Committees on Health and Foreign Relations held a closed meeting with only Senators present to brief them about the COVID-19 outbreak and how it would affect the United States. I am considering this as the start time for my analysis. Any sale made by the senators after this point up to Feb 26 is considered. (I did not consider sales beyond that point as SPY dropped 8% during that week. My assumption here is it’s realistic for any person be it a normal investor or a Senator to panic sell after seeing that drop). For reference, SPY dropped an additional 25% over the next 3 weeks!   + +Senators under consideration: I have considered trades done by 4 senators in my analysis. I have focused on these 4 as all of them were investigated by [Justice Department and the FBI](https://en.wikipedia.org/wiki/2020_congressional_insider_trading_scandal) following the trading scandal. + +1. Richard Burr +2. Kelly Loeffler +3. James M Inhofe +4. David A Perdue + +https://preview.redd.it/x2tks1zpv1371.png?width=751&format=png&auto=webp&s=7630f748040d062eb6cff81bde8c07de2497b2bb + +David Perdue sold 44 times ($3.49 MM) in the 33 days following the closed senate meeting. Interestingly James Inhofe only transacted 8 times but the combined value of shares he sold was a whopping $4.12MM. The most ironic part is that Richard Burr who was under investigation the longest and had to step down from the intelligence committee due to the scandal had the least dollar volume in the transaction ($1.1MM). + +**Results:** + +Before we dive into the overall amount saved by the Senators and the retail investor side of the analysis, let’s see what were the best trades made by the Senators during that time period.   + +https://preview.redd.it/c5u292rqv1371.png?width=1038&format=png&auto=webp&s=5a9f526cb3c4bc68ced13f07c1fd1eddd86021d9 + +David Perdue absolutely killed it with his stock plays. He is present 7 times in the top 10 list and his best play, Caesars Entertainment reduced 83% after he sold his position. Fun Fact: if a stock reduces 83%, it has to go up 488% just to reach back to its initial price. Another interesting observation from the chart is that senators mainly sold stocks related to the entertainment and hospitality industries which were the most severely affected industries due to the pandemic. + +https://preview.redd.it/arf7c6bvv1371.png?width=755&format=png&auto=webp&s=d14f4082ae081911ce365331d82a6845278499d2 + +The above chart showcases the amount of money saved by the Senators due to front running the market crash. David Perdue saved an insane $2.2MM with his stock sales. I also kept a multiple of annual Senate salary to showcase the scale of impact they made to their portfolio because of the trades. + +Finally, we come to the million-dollar question. **Was it possible for the retail investors to follow these trades and front-run the crash?** + +This is where the analysis gets a bit tricky. 88% of the transactions were reported by March 3rd but if you consider it in dollar values, only 52% of the transactions were reported (some of the high-value transactions were reported only after the crash). But if you were an astute investor, you could have observed a stark difference in what the Senators were saying and how they were trading. For Eg. [Richard Burr reassured the public that the US was well prepared](https://www.vox.com/policy-and-politics/2020/5/14/21258560/senator-richard-burr-coronavirus-insider-trading-scandal-explained) for the pandemic but then sold $1MM worth of stocks in the next two weeks. I know that hindsight is 20/20 but if you could have connected these two dots, then you could have saved up to **25% of your portfolio** before the crash. + +**Limitations of analysis:** There are some limitations to the analysis. + +a. I have only used one black swan event for the analysis. A better method would be to analyze the stock trading pattern over 3-4 major crashes and see if any pattern emerges. But the current limitation is that efdsearch.senate.gov has only data since 2012. + +b. There is no disclosure for the exact amount of money invested by Congress Members. The disclosure is always in ranges (e.g., $100k – $200k). So, for calculating the transaction amount, I have taken the average of the given range. + +**Conclusion** + +I intentionally left out the party affiliation of the Senators as I did not want our political views clouding our financial judgment. I could not find a single example where a retail investor or an institutional investor or even a hedge fund leveraging this information to make their trades (it might just not be public!). Another possible explanation here is that Senators might just have superior stock trading capability as [none of them were indicted for this and all investigations are closed now](https://www.nytimes.com/2021/01/19/us/politics/richard-burr-stock-trades-investigation.html). + +However you view it, this analysis in addition to my [last analysis (which proves that Congress Members have better returns than SP500)](https://marketsentiment.substack.com/p/copy-top-stocks-of-the-week-614493) showcases that there is significant money to be made by following their trades closely! + +**Google Sheet containing all the data**: [here](https://docs.google.com/spreadsheets/d/1DmIpEkMrEWix30whYWkHg_mGypVBMQxYnx_sQYXkwz4/edit?usp=sharing) + +*Disclaimer: I am not a financial advisor.*  +Remember that time when they bought a shitload of BTC and didn't say anything for a while? + +The CEO (If I don't name him the upvote/downvote bots can't get me) recently posted on his twitter "Don't defy DeFi" + +I'm calling it now, they are balls deep in ETH. + +With the Visa news today and then the Mastercard rumours, can't be too long until the price sky rockets. Then Tesla will announce they've been hodling for months and yet again look like finance wizards. + + +Thank you for attending my Ted Talk. Stay tuned for more predictions. +Hit me back, Just to chat, truly yours, your biggest fan, this is Stan. +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 doing a project with a California company but I don’t want to file a tax return to the state of California. I moved away from that state years ago and for both ideological and paperwork reasons I don’t want to deal with the CA tax system. + +I have a contract job for like 15,000 USD. If I take the money myself I’m only getting half of it so I’m already planning to donate it all to my fav charity anyway. Do you think it’s weird or douchey to just ask the company to donate my fees and send me a receipt so I don’t need to worry about filing in CA? + +Edit for clarity: I realized over 1M in capital gains this year and don’t want to expose that to the potential that California decides I’m still a resident of CA. I haven’t lived there for 3 years but from what I understand CA is aggressive and I don’t want to be in a position to argue about this. +My fiancée and I are HENRY (~500k) in our late 20s and starting to build NW at a healthy clip. Getting closer to FI feels good, but we have no idea what we'll do with it. + +On our current projections we could realistically RE mid to late 30s (not particularly fat, but by no means lean either). We think we'd like to travel a lot as a primary pastime, but how interesting is travel as a hobby after two years? Five? Ten? Twenty? The concern is that we'll get bored of travel and then... Won't know what to do anymore, or won't have any really full-time endeavors. We don't have kids and don't plan to. We aren't likely to start a hobby farm or similar. We're active, but is there realistically a limit on leisure happiness, or a point where you've leisured so much it that it is no longer fulfilling? +#["Secretary Yellen, We’ve Got a 'Staggering' Problem: New Report Shows Foreign Banks Have Secret Derivative Debt that Is '10 Times their Capital'"](https://archive.ph/OXwAk) + +By [Pam Martens and Russ Martens](https://archive.ph/ODR8L): December 6, 2022 ~ + +U.S. Treasury Secretary Janet Yellen has the dual role of Chairing the [Financial Stability Oversight Council (F-SOC)](https://archive.ph/Ww7gr), whose role is to provide “comprehensive monitoring of the stability of our nation’s financial system.” Heads of each of the federal agencies that supervise Wall Street and the mega banks sit in on meetings of F-SOC. + +One would think that such an august body would have a handle on “staggering” threats to the U.S. financial system – especially since F-SOC was created under the 2010 Dodd-Frank financial reform legislation to prevent a replay of the off-balance sheet derivatives that crashed the U.S. economy in 2008 and forced an unprecedented and secret bailout of U.S. and foreign global banks by the Federal Reserve [to the tune of $29 trillion](https://archive.ph/ga8Ai). If Yellen is aware of the latest threat to financial stability, she’s not sharing the details with the public. That information came yesterday by way of [a stunning report](https://archive.ph/Q048C) authored by Claudio Borio, Robert McCauley and Patrick McGuire for the Bank for International Settlements (BIS). + +The report focuses on the amount of derivative debt that is not being captured through regular statistical reporting because it is held off the balance sheet. These derivatives consist of foreign exchange swaps, forwards and currency swaps. The authors call this exposure “staggering” but focus primarily on the potential for upsets to dollar swap lines to settle it as it comes due. A greater concern, in our estimation, is this line from the report: “For banks headquartered outside the United States, dollar debt from these instruments is estimated at $39 trillion, more than double their on-balance sheet dollar debt and more than 10 times their capital.” Their on-balance sheet dollar debt is $15 trillion. + +This is [reminiscent of Goldman Sachs engaging in derivative trades with Greece](https://archive.ph/VbJbo) to hide its mountain of debt prior to it blowing up. + +Global foreign banks are – for better or worse – an integral part of the U.S. financial system. When there is a crisis, such as the Wall Street implosion in 2008 or the pandemic in 2020, the Federal Reserve bails out global foreign banks along with global domestic banks. Why does it do that? Because the trading units of foreign global banks, as well as domestic global banks, make up what the Fed calls its “[primary dealers](https://archive.ph/PFG3z).” The primary dealers are contractually obligated to make purchases of U.S. Treasury securities at each U.S. Treasury auction and to trade with the New York Fed to carry out Federal Reserve monetary policy. + +Since the financial crisis of 2008 and the eventual disclosure of the Fed’s unprecedented bailouts, the Fed has made a big show of conducting stress tests and bragging about the high level of capital it requires of the G-SIBS ([Global Systemically Important Banks](https://archive.ph/9sAZe)). So to learn from the Bank for International Settlements yesterday that foreign banks have $39 trillion in derivative debts that are not showing on their balance sheets and that represent “10 times their capital” makes the Fed, F-SOC and its Chair, Janet Yellen, look very Alan Greenspan-esque. Greenspan, Chairman of the Fed for an unprecedented 19 years from 1987 to 2006, was asleep at the switch as Wall Street built up its off-balance sheet toxic derivatives that would blow up the U.S. economy in 2008. Greenspan had argued against the regulation of derivatives. + +An equal concern for Yellen, Congress, and every engaged American is the fact that all it takes is one heavily interconnected global bank (foreign or domestic) to set off a wave of contagion in global financial markets. And, there is no question that the counterparties to a significant amount of that $39 trillion in off-balance sheet derivative debt at foreign banks are the big five derivative banks in the U.S.: JPMorgan Chase, Goldman Sachs, Citigroup, Bank of America and Morgan Stanley. + +How do we know that? Because the Office of the Comptroller of the Currency publishes a “[Quarterly Report on Bank Trading and Derivatives Activities](https://archive.ph/BMBm6).” In the most recent report for the second quarter of this year, those five bank holding companies listed above represented $221.539 trillion in notional derivative exposures, or 84 percent of the derivative exposures of the largest 25 bank holding companies in the U.S. (See Table 14 in the Appendix of the OCC report linked above.) + +Furthermore, it’s not like the share price of these global foreign banks aren’t screaming that there’s a big problem. Credit Suisse (Ticker CS) closed yesterday at $3.34, 35 cents from its all-time low and down 65 percent year-to-date. Mizuho Financial Group (Ticker MFG) is also trading in the low single digits, closing yesterday in New York at $2.38. Mizuho’s share price has failed to recover materially since the financial crisis of 2008. The large German lender, Deutsche Bank, also has significant headwinds. Deutsche Bank’s shares closed at $10.60 yesterday in New York, less than one-fifth of its share price during the financial crisis in 2008. +If you've been in this sub for some time you might have heard me bitching about the house prices outside the capitals, in regional centres. + +While a lot of the conversation has been about how Sydbourne house prices have been exorbitant, I'd like to report my findings from a regional perspective. My sole goal in life is to buy a house and put a corgi in it, as such I've been a little obsessive in researching Newcastle's housing market. + +My main findings are the obscene house price growth in a post-industrial city that's largely been gutted of any job prospects. Here are two case studies from different houses in 2 suburbs. I'm trying to pick similar houses in different suburbs, in this case, 3br, needing work, both posted today on RE dot com. One in a fairly stagnant suburb, one of rapid gentrification. + +#Case study 1, [1 Bellevue Road, Belmont](https://www.realestate.com.au/property-house-nsw-belmont-134364242) + +**Background**: Belmont is a sleepy suburb bordered by Lake Macquarie and the Pacific. It has poor transport links (one bus in and out every hour, no rail), and exists on the southern extremity of Newcastle & Lake Macquarie LGA proper (Lake Mac LGA extends around the whole lake, but this is the last suburb of any significant size). It's a short drive to Charlestown Square, a major shopping centre, but about 30-40 minutes to Newcastle CBD (which is a very long time in regional terms). The suburb is largely families and retirement communities. Belmont has been entirely ignored in terms of infrastructure and development - no major projects have taken place since WWII and the largest influx of housing stock was the 50's & 60's. + +**Property**: The property is a 3 bed, 2 bath brick building, on a generous block of land, overlooking the lake. Judging by the original tilework and architecture, probably built anywhere from ~1915-1940. As you can see in the photos, it needs a good deal of work. New carpet, kitchen, tilework, paint, discounting anything we'd need a property report on to know for sure (wiring, termites, foundations, rising damp etc). + +**Suburb trend** [RE dot com has median house prices in Belmont going from ~400k in 2011 to ~600k in 2019.](https://www.realestate.com.au/neighbourhoods/belmont-2280-nsw) (If anyone has any historical median price data by suburb please pipe up.) An appreciation of ~50% 8 years. + +**Price analysis**: The house was sold for 124k in 1993. Adjusting for inflation, that is 234k in 2019 dollars. Current asking price is 540k-590k. *Before anyone pipes up, I'm aware that asking price and sold price are two different things, but we'll take it at face value, but with a pinch of salt.* + +The [average wage for a bloke in May 1993](https://www.ausstats.abs.gov.au/ausstats/free.nsf/0/69D04111DF6E5D15CA2574FA001456C2/$File/63020_MAY1993.pdf) was $32,864. Adjusting for inflation, that's $62,100. + +Old mate likely bought this house at 3.7x his yearly gross income in 1993. + +In May 2020, the [average yearly wage in Australia is $89,128](https://www.abs.gov.au/ausstats/abs@.nsf/lookup/6302.0Media%20Release0May%202020). If you wanted to buy this house at $565k, assuming you had the average wage, you'd need to spend 6.3x your gross yearly income. + +**Important note, I would like to use medians for all these numbers as it reflects the situation for most Australians, but as far as I can tell, the ABS only recorded historical averages and not medians. If anyone can find medians for historical wage data please let me know and I will update this post accordingly. As it stands, I have to use averages to compare apples to apples, though I strongly suspect that the averages aren't representative of regional economies given their limited employment opportunities. Please keep this in mind.** + +**If we use median wage (2017 numbers) and not average for present day only for this house, that is ~8.6x gross annual earnings.** + +**Summary** In a suburb that has had no infrastructure investments since before your Boomer parents were even born - in a isolated suburb - with the complete collapse of the BHP Steelworks that sustained the city's whole economy and nothing to replace it since, the price-to-income ratio has almost doubled. + +#Case study 2, [10 Myola St, Mayfield](https://www.realestate.com.au/property-house-nsw-mayfield-134364426) + +**Background** Mayfield was once a garden suburb just before the 20thC, Arnott of the biscuit factory built his huge mansion in Mayfield, away from the smoke and noise of 19thC Newcastle. It was popular for wealthy men to build an estate in - prior to the BHP Steelworks setting up shop in 1911 on the bank of the Hunter River just a stone's throw from the centre of the suburb. It became a working class suburb, famously dirty and noisy. Since the closure of the BHP and general economic collapse of Newcastle in 1991, Mayfield had been struggling along, before rapid gentrification that started in the early 2010's It has decent transport links, and only 15 minutes from the CBD. The population of the suburb is a mix of immigrant communities (both old and new - Italian and Vietnamese communities have a strong background there, and more recently it's been Turkish, Lebanese and Arab communities putting down roots), older Anglo-Australians and some young families. + +**Property** The house is a classic brick, 3br, 1 bath steelworker's cottage, also built in the early half in the 20thC on a generous block of land. Like the Belmont example, it needs work in paint, flooring, bathroom and whatever else we can't know without a property report. Similar buildings, similar age, similar work needed. + +**Suburb trend** [RE dot com has it at 333k in 2011, and 560k in 2019,](https://www.realestate.com.au/neighbourhoods/mayfield-2304-nsw) a ~70% appreciation in 8 years. + +**Price analysis**: The house sold in 109k (193,055 in 2019 dollars) in 1995, and is currently on offer for 530-550k. + +[Average gross salary for a bloke in May 1995 was $35,724](https://www.ausstats.abs.gov.au/ausstats/free.nsf/0/9620365466254112CA2572250007374A/$File/63020_MAY1995.pdf), buying this house would be ~3x his gross income. + +If you were to buy it today for 540,000 on average income, it would cost you ~6x your gross income. If we take our median income instead (with a grain of salt mentioned above), it would be ~8.3x your gross income. + +**Summary**: In a gentrifying suburb, prices have doubled or tripled from their base point. Keep in mind both of these need a substantial amount of work, so both of these figures are quite conservative in terms of what it'd *really* cost you. + +#TL;DR + +Capital city prices have been obscene. But "move to the regions" on a regional salary isn't a silver bullet. There has been an insane appreciation in price just in the suburb trends for an 8 year span, let alone from the 90's when these properties were listed. I've had to reply to a good deal of people in this sub admonishing me for wanting to "live in a Toorak mansion for 100k", when I all I want is a shitbox in a shitbox town for something that's not 8x my (almost bang on median) salary. So here I am showing my working that even in the regions, things are pretty shit too. I don't know how you lads in the capitals do it. + +Please submit corrections - I'm not great with numbers, but I feel like the general sketch is correct and what we've been hearing. The income to house price ratio is horrifically skewed. I'll probably be away from this post for a few hours, but I'll come back and make the needed edits. + +Cheers. +When my kids (just turned 8 & almost 6) were about 1 year old each, we started 529 plans for them. We didn't always have a lot to put in, but we contributed to each one every month. + +It's tax deductible in our state up to $4000 per beneficiary per year, but up until 2018 the limit was 2000. [EDIT: My number were off - We contributed about $1200 per kid for a couple years, had a couple bad years where it was less than 500, then the last 2 have been 2400] + +There have been times we were late on mortgage payments, or couldn't pay a credit card bill. Once we even had our gas turned off, and couldn't pay it for a couple days so we used space heaters. We've had to get creative with groceries to make food. We haven't been there for a couple years thankfully, but we never stopped contributing. [EDIT to clear up confusion- we contributed after the behind bills were paid, not instead of paying them! Just trying to illustrate we always contributed. I also realize this was a terrible decision and we should have focused on emergency fund / retirement first.] + +We constantly asked our family members to purchase fewer toys and contribute to the 529 instead. They never have - I don't know if they somehow think we'd have access to the money or if they want to be the "fun" grandparents/aunt/uncle whatever, but everything in there we've put in ourselves. + +Before our oldest hit 8, I took a look at it just to see. We have over $20,000 saved between the 2 of them! + +Just start. The sooner the better. It doesn't have to be used for college specifically - any post secondary education, trade school, cosmetology, whatever! You can change the beneficiary once per year, do if they don't use it all you can use it on yourself or someone else. Worst case scenario, you pay taxes and 10% fee to just take out the cash - but that's waived if the beneficiary gets a full ride. + +There's almost no downside. Put in 20 bucks a month if that's all you can afford. You'll be happy you did. + +***Another edit: I get that this was the wrong way to go about it, and we are on the right track now re: emergency fund and retirement. But I am still excited about it*** +Throwaway. + +I'm a young (24) CTO co-founder at a data startup that took off this year in the medical records niche, automating integration with large EMRs for a certain medical specialty. We just started last year after graduating college. Incredibly, we have an offer to sell from one of those EMRs at a pretty high valuation - after payouts to angels, lawyers, and employees, me and the three other founders would net $3.5M each. We see the business growing quickly for a year or two before plateauing due to the relatively small market niche and relatively small economic moat - we got up and running very quickly because of how empty the space is. However we are wondering whether or not to sell, because the medium predicted sale price in a few years could net us $5-$8M per person (the four of us control 60% of the equity and we only have a few angel investors). My friends/co-founders want to stay the course and push for more success, while I want to sell. FIRE, and do some stuff I've always wanted to do. + +I've been following MMM and FIRE for a while, but I've always thought I would normalFIRE at 35 or so with a high savings rate and perhaps $50-60k/yr. This would give me the opportunity to conservatively fatFIRE at $150k/yr, and at such a young age that I could explore projects/build things during the years I'd normally be working my ass off and frugal-ing. I'm also a bit burned out on 14-hr days and would love to relax, buy a normal house, read, do a master's degree, get a better mountain bike, travel a bit, etc. + +Have any of you had to make a choice like this? How did you approach it? How did you try to convince or succeed in convincing others that a parachute like this isn't something to just give up on? Are there other options I'm not considering? +I think it's important we have this discussion to bring people back to reality. Much like alot of people here, I am a January ape and have been deep into the DD and discussions for months now, and with u/criand's post yesterday, I think it's time we have a discussion. And of course, this is not financial advice, yada yada... + +For anybody who missed it, here's the post I'm referring to. Read it **multiple** times, this is **THE MOST IMPORTANT DD aside from HOC** that has been posted on this sub: + +[https://www.reddit.com/r/Superstonk/comments/o0scoy/the\_bigger\_short\_how\_2008\_is\_repeating\_at\_a\_much/](https://www.reddit.com/r/Superstonk/comments/o0scoy/the_bigger_short_how_2008_is_repeating_at_a_much/) + +Now, for awhile we've speculated that GME will moon when the market crashes, but for a long time now, I think we've been looking at it the wrong way. **The market will not crash BECAUSE of GME, the market is doomed to crash ON ITS OWN and GME is the best hedge against the crash you could possibly buy.** + +Everyday we have a new post speculating what rule is going to be the catalyst or what Ryan Cohen can do to set off the MOASS, but this was never going to be the case. Don't get me wrong, I am a HUGE fan of RC and what he's doing for Gamestop, and fully believe in his vision moving forward, however, he is there to do what is best for GME. **Setting off the MOASS is NOT what is best for GME.** IMO Ryan is being the smartest ape he can be by keeping his head low, keeping his cards close, and making power moves to keep himself out of the spotlight until the MOASS is over. **Can you imagine the lawsuits Gamestop would incur if something they did set off the MOASS? IT COULD EVEN END THE COMPANY BY DROWNING THEM IN LITIGATION.** + +"But u/fakeasian, if RC doesn't set off the MOASS, surely it'll be one of the rules they pass, right?" + +**WRONG.** We're foolish to think that any of these rules are for our benefit. These rules are being created to make a blast shield for the shitshow that's about to occur when the market crashes and to prevent another MOASS from happening in the future. The post I linked goes into detail about this, so if you still haven't read it, even though I told you to, GO FUCKING READ IT. + +**THE MOASS WAS ONLY AND WILL ONLY OCCUR WHEN A HEDGE FUND GOES UNDER AND IS FORCED TO COVER.** There, I said it. + +**THE GOOD NEWS** is that we are ABSOLUTELY doing damage. We know they're bleeding and getting more desperate and if u/criand is right, shit is about to hit the fan when all those commercial loans are allowed to default on June 30th. I know we don't talk dates, but the market is clearly freaking out and the powers that be know this is coming because of all the rules they passed to shield themselves. **ALL IT WILL TAKE IS ONE HEDGIE TO GO UNDER, BE FORCED TO COVER, AND THE REST OF THE DOMINOS WILL FALL.** + +&#x200B; + +**TL:DR** I've gotta say that the last 6 months have been the most fun I've ever had on the internet and I love all you guys but **IM FUCKING TIRED.** I know I cant be the only one, and I'm just worried about apes, especially new apes getting burnt out when we're really close to the end. **THERE IS NOTHING ANY OF US OR RYAN COHEN CAN DO TO START THE MOASS. WE NEED TO JUST WAIT PATIENTLY UNTIL HEDGE FUNDS BLEED OUT AND GET LIQUIDATED, THEN IT'S GAME ON.** The thesis remains the same. They can't bring the price down if we continue to buy and hold. Just keep a level head, breathe, be patient, and most importantly, **BUY. HOLD. JACK YOUR TITS. WE ARE IN THE ENDGAME (AGAIN).** + +&#x200B; + +EDIT: For those of you saying RC has a fiduciary duty to the shareholders, you aren't wrong, but they've already done their part. RC came in and ensured that Gamestop isn't going under and raised a buttload of capital to make moves with. **THIS WAS THE START OF SETTING OFF THE MOASS. If RC didn't step in and save GS from bankruptcy, we wouldn't be here right now.** RC has done his part, now we just need to buy and hold until a hedge fund bleeds out and is forced to cover. +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! + +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! + +For context I’m an undergrad double +Majoring in international affairs and international business. I took a class called “principle of economics” that taught the basic math behind some Econ and I got an 80. + +Now I am taking microeconomics and I am lost. Everything seems so complex. All the cost curves and graphs and variations just all seem like gibberish to me. I truly have always been a good student but now I’m failing. I try to intuitively understand things but it’s so difficult. + +I got a 51 on our midterm and there’s very few assignments left. I don’t know what I’m doing wrong. I know this might sound vague but how can I do better in microeconomics? +I am not an expert in macroeconomics but I was always taught that the role of a central bank is controlling the amount of money circulating in the country and follow a monetary policy that goes accordingly with the fiscal policy of the goverment. + +So the USA gets the virus, total income is falling, unemployment skyrockets, there is risk of default of corporate debt. All deflationary stuff. The goverment need to spend lots of money to fix this, how to punt money in the hands of America? The FED starts obviusly pumping huge amounts of liquidity into the market to get some inflation going, even if interest rates are already low. That should get the debt levels down, right? + +Here in Europe there is some talks abount eurobonds and stuff to fix this virus situation, but one way or the other the stuff will be financed through debt and the debt will not be monetized (at least that's what I got, maybe I'm wrong). Why is the ECB not pumping liquidity into the economy like the FED? It's clear that there will be huge shortage of it, and even without this virus, the EU has lots of countries that have high levels of debt and unemployment that would benefit a lot from money priting to bring levels down. Besides, the EU relies heavily on exports, so expanding money and consequencially bringing the exchange rate down could only be a benefit, right? + + This conservative monetary policy that the ECB has adopted clearly hasm't helped countries like Italy/Greece & others in the last 15 years. Here in Italy the goverment has done nothing but austerity but debt levels have risen and unemployment is up, and the economic outlook for the future in Italy is not looking good, no wonder many here would like to exit the eurozone to be in charge of our monetary policy. At some time in the future we'll probably default on our debt, that could probably bring down the whole eurozone ... Why the ECB doesn't do anything about this and targets such low inflation? +I'm learning QT along with C++ right now as a part of my Computer Science Major. + +I was wondering if it is sensible to build a trading system completely from scratch or there are open-source trading systems available for free which I can develop to my needs. if yes, could you name some open-source trading systems? C++ or Python. +I took the HDFC ERGO my: Optima Secure yesterday after much deliberation and evaluation I had been doing since a few months now. Spoke with Ditto twice, with HDFC multiple times, with PolicyBazaar a few times before finalising. I compared with Optima Restore, Niva Bupa Max Saver, and Navi Health. + +Both wife and I already have health policies from our respective workplaces worth INR 10L each as a family cover. My wife covers me and our child and I cover her and the child so actually we have a INR 20L cover between the three of us. + +I am nearing 40 years of age so decided to take a personal policy with lifelong renewal option but didn't want something too expensive. HDFC ERGO turned out to be the best option basis hospital network, first party claim processing (no TPA) and claim paid ratio / less complaints. + +I took the base cover of INR 10L with 2x benefit which means it will be treated as 20L sum insured right from the beginning. If the policy continues for one year, they add 50% of the sum insured to the base sun insured and after two years of continuing the policy, they 100% to the base sum insured so after two years, the sun insured will be INR 30L (irrespective of whether you took a claim or not, so this isn't a no claim bonus). Then there's the restoration benefit which is 100% of the base sum insured so after two years you have a coverage of INR 40L. The restoration benefit can be used by the same person for the same illness (different time of hospitalisation) or by a different person. + +The option that attracted me towards the policy was premium discount if I opted for deductible. 25% discount for INR 25000, 40% for INR 50000 and 50% discount for INR 1L. I opted for INR 50000 deductible which brought my annual premium down from INR 24600 to INR 14300 for a family floater plan for three members. Basically, I will have to pay the first INR 50000 bill (once in a year, either from pocket or from a different policy) and then the HDFC policy covers the rest. We'd ideally always use the office policies first and if still required, leverage this policy. The only time I'll have to pay the INR 50000 deductible from the pocket if when neither of us have a policy from workplace. + +Room is limited to single private AC room so you cannot upgrade the room to deluxe, super deluxe suite etc. Risk - a hospital can state that we don't have a single AC room available and push you a higher category room. I've seen this scenario less likely than hospital stating that they don't have a single AC room available and that you'll have to take a twin sharing (in which case you get INR 800 per day upto INR 4800 from HDFC). + +Some other aspects I liked, 60 days pre and 180 days post hospitalisation coverage, air ambulance up to 5L, ambulance cover up to the sum insured (not limited to INR 2000 like most others) etc. You can read the policy brochure for details. + +As per HDFC, premium will increase by approx. INR 200 every year until 50 years of age and then approx INR 600 every year. + +I did spend a lot of a time going through multiple threads so thought it is my time to give back. I'd be happy to answer any questions you have may have. + +Another option I was considering (when I decided to go for INR 5L cover from HDFC) is to take a super top up from SBI General, Arogya Top Up cover (called top up but is a super top up) which would have cost me mere INR 1674 for three years for three of us for a cover of INR 50L with INR 10L deductible but since there was a difference of just INR 3000 between INR 5L and INR 10L cover from HDFC, I decided to go for INR 10L base cover which with 4x benefits, can provide up to 40L cover. +I saw the post here by u/jscottmsn1, in which he is saying the longer this drags out, the lower the trust in the "free" market idea...and the less people will want to invest in equities after all this: + +https://www.reddit.com/r/Superstonk/comments/oow9bc/with_everything_were_seeing_happening_and_the/?utm_medium=android_app&utm_source=share + +I have thought about this a lot too, but with a slightly different context. This is something that is already happening now, I believe, with us non-US investor Apes. Many of the American Apes who have 401ks might not have a lot of choice and be 'forced' to invest and re-invest in US stocks. But the rest of us, many who would have invested heavily into NYSE and NASDAQ listed stocks in the past, are probably already pulling our money out in droves (except GME!) + +As for me, although I am a British Ape based in Asia, up to now I have mostly invested in US stocks and a local US ETFs based retirement/pension fund over here. My entire stock holdings are *still* US-only, but that is only because I've YOLO'd all my available cash I have into this game. But I cannot cash out the retirement/pension fund, only change the ETFs selected within it due to a lock period. After learning over these last 7 months what a shitshow the US markets truly are, I changed all the ETFs in this to non-US equities ages ago... + +The reason is not because I expect better returns from UK, EU, Japanese, Hong Kong, Indian etc. stocks. In fact, the US market is *still* likely to give better returns over the long run. But it is a matter of principle now for me: I think US returns are higher not because the markets are more free, but because they are more *rigged*. Other markets have their share of problems too, but with nothing like the level of corruption and collusion that we are seeing right now in the US, and which the SEC is seemingly turning a blind eye to. + +The longer this drags on, the more likely I am never going to invest a cent into US equities again after all this is done. I am sure I am not the only non-US Ape who has the same thoughts and already changed their investing approach. Believe it or not, non-Americans own more than 40% of American equities now. We might not have much power to ask for change from overseas, but we certainly do have the power of our wallets. + +So all I can say to the people at the SEC is that if you truly want to protect the American markets, then **do your damn jobs.** +Cars are currently overpriced and seem to be selling way higher at the dealerships than MSRP ever since the chip shortage. I have a 2004 Malibu that is starting to have more issues than it’s worth in cost of repairs but I’m trying to hold out and make it last because the current state of car lots. I haven’t decided if I want to try to go with something new or close to new (I know Gordon Ramsey wouldn’t want me getting new) but I’m wondering if you guys think the vehicle market will go back to normal any time soon? How long will shortages and higher car price tags last? Is anyone else holding out on getting a vehicle right now? + +Edit: Dave Ramsey +We are getting ready to buy our first home so to ensure that we have plenty enough to cover any new furniture, repairs, closing costs or other expenses we decided to review our budget to cut back on anything extra. We took the time to centralize our contact information for paying bills and accounts for logins. While going over our insurance policy we realized our auto policy expired 3 months ago! Without having reviewed our important documents and budget we could have missed this for who knows how long. Reviewing our budget might just have saved us from a financial disaster. + +If you don’t have a budget start today!!! +How do you actually buy to get dividends? +Is it enough to buy some company (that pays dividends) shares to start getting those or do you need to do something more? +Btw I'd like to try being a long term investor (I'm 19, i have the time), what are the best lower risk companies that pay dividends for a beginner like me? Thank you in advance guys. +I'm already proficient in Excel and Stata (Or as proficient as a college student can be), but I want to know if there's anything else I should pick up in my free time that will make me more valuable +I understand the 50/30/20 rule, but what if your necessities don’t take up 50% of your paycheck/income? Would that mean you would put whatever you don’t spend into savings? +I’m still young, I get allowance and I use that for my necessities while DoorDash pays for what I want on the side. I want to put a percentage of what I earn into savings. + +I understand people got very wealthy or and successful in life by not spending everything they get, which makes sense. It’s not like one big paycheck made them “rich.” I’m wondering if it’s wise to save a lot more than 20%, and if there’s any risks that could come from saving more than 20% that are not clearly obvious. + +Also before anyone calls me out on “becoming rich is a vague and so typical of a dream to have,” or that I shouldn’t hope to become rich because it’s incredibly difficult and an unrealistic desire, my dream isn’t to become rich, my goal is to have absolute freedom to do whatever I want in life, and to be financially safe. +(Rich just sounds… bad or a dumb dream to have). +Also don’t be an asshole. + +So yeah, is it wise to save more than 20% in this scenario? +Since u/rick_of_spades banana its been FTD's all over the place. Enought with the nonsense, attention seeking and karma whoring. If you wanna put stuff in your ass you dont need to bet on it. Its your buiseness but we dont need to know about it. Specially we dont need to see you FTD and get banned. +. +But a lot of people like these posts. Its a daily injection of fun. But after 1000 posts its not funny anymore. Only disgusting. +Im speaking for myself only tho I used "we" +So I knew about the 15 (or 30) free hours you get when your child hits 3-4. +I knew about Junior ISAs, I knew about "HMRC child benefit" where you get £84.60 from the government as long as you don't earn crazy amounts. +And I'm not eligible for other stuff that you get on low income. + +BUT I had no idea that there is a government scheme where for every £8 you put into an account you get £2 on top for free, up to £2000 a year free (to pay towards childcare). +Why is this stuff not advertised more to new parents? It really frustrates me. I'm an economics teacher so not exactly financially illiterate and I only found this out through a friend the other day when my child is already 2 years into nursery. + +After my rant, my question is - are there any other things I'm missing here (in terms of financial schemes etc, or just tips) for new born, toddler etc? + +Edit - this seems somewhat useful https://www.moneyhelper.org.uk/en/family-and-care/becoming-a-parent/use-our-baby-money-timeline +I wasn't aware that sharding would have suck a dramatic positive affect on scaling. This is quite insane! + +Is there any predictions on how this might affect fees on the network? + +I've been invested in Nano heavily buy with the recent information I've found on ETH 2.0 it looks promising and it just goes to show that the bigger coins aren't just sitting on their hands and pretending scaling isn't an issue. They are coming up with some amazing solutions. +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) +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/ywAGqfUAQE) +I've seen so many noobs in here recently talking about buying $100 worth of a coin on uniswap. This is a very bad idea and you shouldn't do it. Sure it *could* work out but it's extremely unlikely. + +Let's say gas fees are $50, which is pretty realistic. If your coin goes up %100 you lost about $10. You paid 50 to buy, 50 to sell, and you also have to pay the $10ish approval to sell as well. So you need to make 110% on your investment MINIMUM in order to just break even. I repeat, if you go up 110% you didn't even make any money yet. That is an extremely bad investment strategy. Ironically most of the posts bragging about their $100 investment are smugly calling other people broke idiots. + +I mean sure some of these coins have been skyrocketing, but most don't and you will end up losing a lot more than you gain doing this. You only hear about the people who made money on their hundred dollar bets because no one is going to repeatedly post about how they lost their Benjamin investing in an animal meme rfi fork. It's called survivorship bias. + +I know it's "only 100" but if you dont care about losing 100 then you should be fine with risking 1000, which as weird as it sounds is less risky than investing 100 in a uniswap coin because you don't need nearly as big of % gains to make money. + +I don't put less than 1k in a uniswap trade BARE MINUMUM. I mean I could *maybe* see going as low as 500, but even that's eating into a lot of your profits. If you don't have at least 10k to throw at 10 different uniswap coins to diversify you shouldn't be playing microcaps. You also shouldn't be throwing 10k at microcaps unless you have another 10k AT LEAST in mid to large caps as a safer bet. + +If you have less than 20k in crypto just get normie coins until you grow your stack. It's way safer. Or find moonshots on exchanges with low fees. I made a killing off lukso, and its on kucoin. Same with trac and soul. Omi is on bitforex. Or get into bsc gems and use pancakeswap. There are so many smarter plays. Don't use uniswap unless you have a fat stack of cash and know what you're doing. + +Obviously this advice will be ignored and we will hear a bunch of success stories in the comments about people's $100 uniswap bets and how I'm jealous of their gains because I'm a broke salty loser. + Hi everyone, + +Uranium sector is in a growing global primary supply deficit while western secondary uranium supply from underfeeding in the enrichment has completely disappeared the last couple months! + +Here are a couple short term (12 months) price targets (source John Quakes99 on twitter): + +&#x200B; + +[source: John Quakes99 on twitter](https://preview.redd.it/6z46otio48191.png?width=679&format=png&auto=webp&s=66d12e24360b1a9a8d6861168bb9d432ff4676cc) + +the complete report: [https://www.morganstanley.com/im/publication/insights/articles/article\_thenuclearrevivalembracingacleanreliablesafesourceofenergy\_us.pdf](https://www.morganstanley.com/im/publication/insights/articles/article_thenuclearrevivalembracingacleanreliablesafesourceofenergy_us.pdf) + +&#x200B; + +[source: John Quakes99 on twitter](https://preview.redd.it/e9h99byp48191.png?width=815&format=png&auto=webp&s=e14a32200c4c04f49b72a4755cde51f481c06b82) + +[source: John Quakes99 on twitter](https://preview.redd.it/4f8idyqs48191.png?width=604&format=png&auto=webp&s=2bc569c0de7e7bd5cf5fbb6e3d6b363c73d75c8e) + +[source: John Quakes99 on twitter](https://preview.redd.it/yxrl4z6u48191.png?width=626&format=png&auto=webp&s=4fc6ebcdaf43adb4ee64bad6f5e1bdc8351bb422) + +[source: John Quakes99 on twitter](https://preview.redd.it/gfjte2xw48191.png?width=568&format=png&auto=webp&s=1fab07918249be748e89c092e67f159c5a60cd03) + +[source: John Quakes99 on twitter](https://preview.redd.it/ivh510bz48191.png?width=805&format=png&auto=webp&s=ef6449841ab9188ab8b87d8bd759568c5ea001f5) + +[source: John Quakes99 on twitter](https://preview.redd.it/l2isgmy158191.png?width=1016&format=png&auto=webp&s=56f865370110b35e6b04893e2bbf53c3ff3ffc5a) + +[source: John Quakes99 on twitter](https://preview.redd.it/uxwgzkj358191.png?width=811&format=png&auto=webp&s=872e5db20935c21ebda117a8e0a26d69dba530a1) + +[source: John Quakes99 on twitter](https://preview.redd.it/k2a6x7n558191.png?width=682&format=png&auto=webp&s=f83c6418de54f569f0ebfeca8a063acf5a0130de) + +Note: Global Atomic doesn't need an additional capital raise!! + +They will finance their project with: + +\- periodical management fees from the producing Zinc JV + +\- dividends starting early 2023 from the producing Zinc JV + +\- warrant in the money at the moment + +\- revenu from a future collaboration with Orano mill in Niger (start end 2023) + +\- loans with a bank consortium + +Cheers +I currently have HDFC Regalia credit card and being offered 6E rewards XI - Indigo credit card as an upgrade. I feel like Regalia card is a better choice than the indigo one and the offer is not really an upgrade and is only useful if one is a frequent flier with indigo, which I'm not. + +Has anyone else received this offer and did you upgrade? Why or why not? +Insofar as socialism can be defined as the workers or the population, rather than private individuals, owning and controlling the means of production, is Venesuela socialist? Do the workers truly own or control the means of production? To what extent does the economy rely on markets to distribute goods and wealth? Are there elements of both socialism and/or capitalism found therin? Is this question really as difficult to answer as popular political/economic debate would indicate? + +Edit: Is the term "state capitalism" applicable here at all? Is this term accepted as a true phenomenon in certain countries among economists today? +I’m not good at data analyzing or good with numbers, but every so often I get aha moments. + +This is entirely speculative but I think Gensler is deliberately constructing a narrative to save face for the SEC and come out looking like the good guys. I know I hate hearing this, but I believe we’re close. Creating his Twitter is one thing, but going on national television and giving that interview seems like it’s all coming to a head. + +Anybody else feel this? + +Edit: appreciate everyone’s input, I’ve tried to read it all…and many thanks for the awards! +Edit - Thanks for all your input! I've made a follow up post on the matter! - + +[**04/11/2021 - The Fake Squeeze... Continued**](https://www.reddit.com/r/Superstonk/comments/moq8aj/04112021_the_fake_squeezecontinuedwill_the_margin/) + +&#x200B; + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +&#x200B; + +Quick Edit - I should've mentioned the biggest point of all... + +# JUST BECAUSE THEY MIGHT TRY THIS, DOESN'T MEAN THEY WILL BE SUCCESSFUL! WE AIN'T FUCKING LEAVING! + +**We have to believe they'll try absolutely anything at this point.** + +&#x200B; + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +&#x200B; + +**Edit - Okay, so let me clarify a few things!** + +&#x200B; + +* I think that highlighting a potential ‘fake run up’ will HELP people HODL even more! The biggest test for some people will be to take profits at $1000, with MSM pushing that the squeeze is finally over. + +**Surely providing some DD about how it is NOT REAL will HELP people HODL through it, rather than paper hand?** + +&#x200B; + +* Also, one major flaw in my post was the lack of accountancy for FOMO. This is a very real thing and would create heaps of buying pressure, screwing their plan altogether. It is a dangerous play for sure. I’d like to paste a comment I made below to some of the concerns. + +&#x200B; + +*Thanks for your comment! Let me just address some of things you've said and we can discuss.* + +*As I've explained, major HFs could have shorted long holdings of smaller HFs. When they liquidate, not only does it not affect them (much), but they're actually profiting.* + +1. *Very risky indeed, but when the inevitable squeeze is going to happen wouldn't you try everything possible to mitigate it?* +2. *Long whales only stock is not in GME. When these HFs liquidate, many of long whales other positions are going to be negatively affected.* +3. *Please remember not everyone who owns GME is an ape. There are people who have no idea of the fuckery afoot.* +4. *FOMO is the reason its a risky play.* + +&#x200B; + +* \*'\****The buying pressure could be too much'.*** **Well if the buying pressure is from HFs this time, there's a lot more room for fuckery. As Melvin stated before, the january squeeze was not shorts covering, more retail investors. If this squeeze creates buying pressure from BOTH retail and HFs, they are so fucking screwed. Hopefully FOMO hits again and they get fucked. I think I need to clarify this - I DONT WANT A FAKE SQUEEZE.** + +**I just want people to be prepared if there is one. We see $500 and then back to $100 (fire sale) and everyone telling us it's over.** + +&#x200B; + +If my tin foil hat is too tight, I apologise. But yesterday I stated a 'fake squeeze' and didn't really describe much as to why. This is a follow up to my speculation behind it. + +I thought carefully following up with it and believed that showing DD about how there could be a fake run up( before the actual one) would allow people to HODL. (not financial advice though motherfuckers). + +As always, thanks for your critique. I appreciate this post was a little more out there but as a community, we credit or discredit these kinds of things. Don't bash me. Give me a counter DD, I'll happily link it at the top of the post! + +# ______________________________________________________________________________ + +&#x200B; + +&#x200B; + +GOOOOOD MORNING APES AND APETTES + +**It's the FUD PATROL...........** + +&#x200B; + +[roar](https://preview.redd.it/yd38bxzg4hs61.png?width=829&format=png&auto=webp&s=a7633e229be06e9a367d83dc0b460cd98037104d) + +&#x200B; + +Firstly, I want to say thanks for all the comments and support on my previous post. Irrespective of my theories, the message got across that we should just question every motive behind MSM, even when it's confirmation bias. + +A lot of people were sceptical of the 'fake squeeze' theory. Instead of filling up that post, why not make it today's report! I apologise I'm not FUD BUSTING today but this is still good.... *(right?)* + +&#x200B; + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +&#x200B; + +# The fake squeeze theory + +So let me quote my previous post - + +>**You are led to believe Melvin was the only sinking ship in this battle and to save their fund, covered and made a fake squeeze to make everyone believe it’s all over.** +> +>Remember the DD stating there would be a fake squeeze to shake everyone? +> +>And regarding the question ‘what about a margin call’? Well can you not see Citadel have had weeks to fuck around and do whatever is necessary to prepare themselves. **I think Melvin is going to be the controlled explosion to FUD everyone into believing it’s over and for paper hands to take what they can get.** + +&#x200B; + +So I decided to do what any good agent of FUD PATROL would do. I set out to back up my claim. + +&#x200B; + +Let's clear some things up around Melvin. A lot of people were saying + +*'That would be suicide for Melvin'* + +*'Their reputation would be destroyed'* + +*'Why would Melvin purposely post losses?'* + +&#x200B; + +**You have to understand, this is bigger than Melvin. This is obvious otherwise Citadel wouldn't have invested a $2.5 BILLION 'bailout'. I believe Melvin is a pawn in a much bigger scheme here.** + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +&#x200B; + +**Let's go back. Why would Citadel bailout Melvin with $2.5 Billion?** + +The answer is obvious. To stop them being margin called and liquidated. Well this would only be an issue if Citadel had a large exposure on positions that Melvin held. So let's take a look at three of the biggest positions Melvin held and cross reference these with Citadel Advisors. + +(to clarify, in the event Melvin liquidated, their shares would be sold causing a mass drop in price. If Citadel went long on this stock, it would harm their portfolio) + +&#x200B; + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +**Advance Auto Parts - Melvin** + +https://preview.redd.it/189z16zs7hs61.png?width=1639&format=png&auto=webp&s=26342096df60e868b45361293b863b0422bd6c69 + +That's $196,888,000 by the way. + +**Citadel** + +[Oh so in December, Citadel increased their position and bought over 600,000 shares... that's exposure...](https://preview.redd.it/oezh2s8e8hs61.png?width=1382&format=png&auto=webp&s=c64a8d4a0d2c05cd4fbad48515490d00c56d4834) + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +&#x200B; + +**Expedia Group - Melvin** + +https://preview.redd.it/r7nzkiyb9hs61.png?width=1594&format=png&auto=webp&s=887bab36c43dfba05ec4e2c400b231cd521adec7 + +**Citadel** + +&#x200B; + +[Oh , So they increased their position in Expedia ALSO by over 430,000 shares](https://preview.redd.it/b9v85wyr9hs61.png?width=1376&format=png&auto=webp&s=34f1d5238d21ccb667559150017bfcc7e38eba90) + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +&#x200B; + +**Mastercard - Melvin** + +&#x200B; + +https://preview.redd.it/29smfqx9ahs61.png?width=1644&format=png&auto=webp&s=adf875309c9a7d6ef6225d2d8c5ee234faa81b1e + +**Citadel** + +&#x200B; + +[Not as bad but still a huge exposure if Melvin were to liquidate over $1 billion...](https://preview.redd.it/jrrhgqaoahs61.png?width=1380&format=png&auto=webp&s=fd6ab67b6b7c0919c4d5050d26f203aaf0327018) + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +&#x200B; + +**LAST BUT NOT LEAST - FACEBOOK - MELVIN** + +&#x200B; + +[$1.2 billion in shares](https://preview.redd.it/02lmj3c9bhs61.png?width=1644&format=png&auto=webp&s=351e8fdf96d3d978ad8c7a14fe3a23e178364985) + +&#x200B; + +**Citadel** + +&#x200B; + +[$13 billion in call options alone...These would've been fucked.](https://preview.redd.it/99nes9gebhs61.png?width=1379&format=png&auto=webp&s=fc320583f464102cb72a332f33dfd57aa67b5679) + +&#x200B; + +So as we see, this means that if they were margin called and liquidated these positions, Citadel would've taken a huge hit. + +&#x200B; + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +&#x200B; + +# So what has happened to the stock values? + +**They've gone up....** + +&#x200B; + +https://preview.redd.it/yvrwzlq4chs61.png?width=741&format=png&auto=webp&s=43fbaf92beda0ac50e02299c7eb587af171c88f6 + +&#x200B; + +https://preview.redd.it/asa3sam8chs61.png?width=735&format=png&auto=webp&s=05398e8298957fd1ce92428964c84b0e4edaadce + +&#x200B; + +https://preview.redd.it/ej4wffpdchs61.png?width=761&format=png&auto=webp&s=d61b6fe0f8e03e7358ef4d7ccf0520d1ddbb7eef + +&#x200B; + +https://preview.redd.it/ifoi810jchs61.png?width=752&format=png&auto=webp&s=2e266cb6ab986070d2da2bc6a032ab2e28edbd3c + +&#x200B; + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +# So what does this prove exactly? + +Well nothing yet. The juicy stuff is below. We have a background on the relationship between Citadel and Melvin. + +**If I was Citadel and knew Melvin was going to collapse, I could prepare and orchestrate a 'fake squeeze'.** + +How would I do it? + +&#x200B; + +**First - I'd take a short position in these stocks, so when they do collapse, I can make money. Let's look at the change in short interest....** + +&#x200B; + +&#x200B; + +https://preview.redd.it/aqnfp0yndhs61.png?width=1360&format=png&auto=webp&s=fdceebdc6189e9b69f7eeaffa0b3a9c6293e326d + +**So for Expedia, the price went up $12 but 1.5 million more shares were shorted? That sounds like an awful move?** + +&#x200B; + +&#x200B; + +https://preview.redd.it/he6rdbv0ehs61.png?width=1378&format=png&auto=webp&s=860a157140f8ce606656c5a649ef74693822eb0a + +**Looks like someone shorted the shit out of this back in January...** + +&#x200B; + +&#x200B; + +https://preview.redd.it/f8ei4vibehs61.png?width=1369&format=png&auto=webp&s=f61463868c8148070e39d786b4440e1438dbbfd0 + +**Mastercard being shorted to oblivion...** + +&#x200B; + +&#x200B; + +https://preview.redd.it/e49jw3yhehs61.png?width=1376&format=png&auto=webp&s=23eecfdf0dd31f1f4f295226d61a0d93a31ad39c + +**Who the fuck shorts a stock as it's going up????** + +&#x200B; + +**\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_** + +# Recap + +&#x200B; + +* Citadel is exposed to Melvin big time +* Know their collapse is imminent due to their position on GameStop +* Prepare yourself to profit off of their demise by taking short positions in their biggest holdings +* Make them a sacrifice and push them over the edge + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +# The Fake Squeeze... + +When Melvin is inevitably liquidated, GME shares will of course go up. This is the controlled explosion I was referring to previously. Melvin will buy all of the shorted shares from paper hands at $300,400,500 etc. Their position is closed out. What does this mean? + +**There are now more shares available to borrow and short again. This is exactly what the likes of Citadel will do. Borrow these shares that have been returned and short it to oblivion, driving down the price once again, claiming I'tS aLL OvEr.** + +**It's key to remember, Citadel have a much higher point before being margin called.... Hence, the opportunity for a fake squeeze.** + +**\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_** + +# Bonus Round! + +**Advance auto parts institutional ownership?** + +&#x200B; + +https://preview.redd.it/ex806r1cghs61.png?width=423&format=png&auto=webp&s=f7b83eb60aeb702e91c3d523b0c90da1836d00cd + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +**TL;DR** + +Citadel were massively exposed to Melvin and could not afford for them to liquidate. They could now have short positions on these and use Melvin as a sacrifice to push them to liquidate. This would create another controlled squeeze as Citadel make money on the short positions and also borrow (and short) all the stock Melvin is buying back. + +&#x200B; + +&#x200B; + +As always, I wrote this while cracked out on ritalin and my keyboard is nearly on fire. I will edit this later on for any inconsistencies and please comment and help me either prove this more or edit the plot holes! + +&#x200B; + +&#x200B; + +&#x200B; + +**IF IN DOUBT, HODL IT OUT** + +&#x200B; + +**FUD PATROL OUT.** + +&#x200B; + +*Disclaimer- this is in no way financial advice. Do not base your investment decisions on any of my previous, current or future posts.* +Hello Apes, this isn't a macro-analysis of the GME situation. Instead, this is a micro-analysis of a specific change in NSCC-2021-004. The purpose of this post is to further support the [DD by c-digs](https://www.reddit.com/r/Superstonk/comments/mu9xed/why_were_still_trading_sideways_and_why_we_havent/?utm_source=share&utm_medium=web2x&context=3) as well as DD by other apes regarding the next few weeks. + +Obligatory disclaimer: *this is not financial advice, I'm just a chimpanzee who learned how to use the internet. I'm also not a financial ape. I've been learning this stuff alongside many of you. What I am is a legal ape. However, this is not legal advice either. But if I've learned anything, it's how to skim through a document and only pick out topics that seem important. Seems to have got me through ape school good enough, so here we are.* + +I was prowling the SEC website in search of any new proposed or approved rules, and I saw that the comment period for NSCC-2021-004 went until April 23, 2021. That's on Friday. So I read through the proposal, because why not, and wanted to highlight something I found interesting. + +Most of it updates terms for consistency of use or clarification, but this is something new the NSCC is adding to its Critical Service List. + +# Substantial Change: Adding New Critical Service + +So on page 10 we have our substantial change, and that is to add a critical service called "Account Information Transmission" ("AIT") to the list of NSCC Critical Services. AIT has already existed for a while and it's just a way of standardizing codes and names to reduce cost. This service is designed to "prepare carrying broker-dealers for an emergency mass transfer of large quantities of customer accounts and assets from a distressed broker to a financially secure broker." [Here's a list of broker- dealers regulated by FINRA](https://www.finra.org/about/firms-we-regulate/broker-dealer-firms-we-regulate); there's a few Citadels in there, take a look if you're interested. + +[SR-NSCC-2021-004 \(page 10\)](https://preview.redd.it/inhx9qykzmu61.png?width=1109&format=png&auto=webp&s=e49b16bf80c89a45335fb499724f2ede1a409448) + +This bulk transfer initiative follows a [Playbook](https://www.sifma.org/wp-content/uploads/2019/04/SIFMA_Bulk_Transfer_Playbook_April_2019.pdf) that was established, in part, by [SIFMA](https://www.sifma.org/resources/general/bulk-transfer-playbook/) in April 2019. + +>The Bulk Transfer Playbook is the culmination of years of collaborative work within the industry to ensure we have a program in place that provides a smooth transition and protects customers, ***in the unlikely event it is ever needed.*** (emphasis added) + +"Unlikely," lol. + +Anyway, don't wanna make this too long, but I skimmed through the [Playbook](https://www.sifma.org/wp-content/uploads/2019/04/SIFMA_Bulk_Transfer_Playbook_April_2019.pdf) and found some interesting info in the FAQ's. Looks like the trigger to a bulk transfer is basically at the point where a broker-dealer's financial condition deteriorates so much that regulators have to have a "frank discussion" with senior leadership to see whether this is necessary. + +[SIFMA Bulk Transfer Playbook pg. 102-03](https://preview.redd.it/zik8xjxd6nu61.png?width=917&format=png&auto=webp&s=a459ac48369022c1450377e3b244f55b50ab7a42) + +"Regulators will not publicly approve/shepherd the move," which likely means we won't have much media coverage or transparency regarding this process if or when it happens. However, based on that answer, it makes sense what some of the DD here suggests - that regulators, market makers, and other big players are meeting to make sure we don't collapse the world economy, and that basically moon will have to wait till the pieces are in place and the U.S. is insulated from the coming storm. + +# What's the Importance of Establishing AIT as a Critical Service? + +For that, we have to look at what a Critical Service is... + +>“Critical Services” means the services of the Corporation described in the Rules and Procedures of the Corporation that have been identified as critical services in the Recovery and Wind-down Plan. + +And what the Recovery and Wind-Down Plan is... + +>The R&W Plan is structured as a roadmap that defines the strategy and identifies the tools available to NSCC to either (i) recover, in the event it experiences losses that exceed its prefunded resources (such strategies and tools referred to herein as the “Recovery Plan”) or (ii) **wind-down its business in a manner designed to permit the continuation of NSCC’s critical services in the event that such recovery efforts are not successful.** (emphasis added). + +Now, this post isn't about the R&WD Plan, but basically the Plan is a fail-safe in case the NSCC can't perform its business, and its duties need to be transferred to another entity. The recovery part is a way for the NSCC to save itself, whereas the wind-down is if it fails completely. You can read the NSCC's Rules and Procedures [here](https://www.dtcc.com/~/media/Files/Downloads/legal/rules/nscc_rules.pdf). + +>The criteria that is used to identify an NSCC service or function as critical includes consideration as to whether **(1) there is a lack of alternative providers or products**; (2) failure of the service could impact NSCC’s ability to perform its central counterparty services; (3) failure of the service could impact NSCC’s ability to perform its netting services, and, as such, the availability of market liquidity; and (4) the service is interconnected with other participants and processes within the U.S. financial system (for example, with other FMIs, settlement banks, broker-dealers, and exchanges). +> +>\- [NSCC-2021-004, the long version](https://www.dtcc.com/-/media/Files/Downloads/legal/rule-filings/2021/NSCC/SR-NSCC-2021-004.pdf); (emphasis added) + +AIT is a critical service because it falls under subsection (1). No one else can do this job. + +[SR-NSCC-2021-004](https://preview.redd.it/tws84rpopnu61.png?width=959&format=png&auto=webp&s=1b3316a682c61d736222ca572beefa361d6f013b) + +[Who transfers large quantities of customer accounts from a failing broker to a financially secure broker when the transferor fails?](https://preview.redd.it/kwfhofbtrnu61.png?width=235&format=png&auto=webp&s=81f53ee32560649de8d02e161fe20ed0e9eefd13) + +**Conclusion and tl;dr** \- The NSCC added "Account Information Transmission" to its list of Critical Services for 2 reasons: (1) because no one else transfers customer accounts from failing broker-dealers to financially secure broker-dealers, and (2) because if (when?) the NSCC can't recover from whatever disaster is happening in the financial world, someone else is gonna have to assume the responsibility of transferring accounts from failing broker-dealers to financially secure ones. This is bullish because it shows that the powers that be are preparing for "an emergency mass transfer of large quantities of customer accounts and assets" soon. + +Edit: Damn this blew up more than expected, thanks for all the awards! Keep your assets as safe as you can! +I would roll my eyes at this post so trust me I know it sounds ridiculous. + +I’ve recently moved jobs from a ~£28k salary to a £35k salary + commission. When I was offered the job, I immediately accepted because the 7k jump alone far outstripped the 3% pay rise I was getting at my old company. Anyway, long story short in my excitement of the offer, I obviously didn’t take the time to do the maths on the apparently incredibly generous commission scheme this company offers. + +I’ve just received my first pay cheque and my commission alone has more than doubled my expected monthly take home AFTER tax. At first I thought it was a mistake but after reading through my contract again and doing some sums - everything checks out! + +After having (in my opinion) a nonchalant conversation with my line manager, she expects me to rather easily have a pre-tax income of ~£80k a year. I know this isn’t guaranteed and I’ll have to work for it but after having an average first month, I’m seemingly on track! + +So, I still live at home (I’m a Londoner) and am pretty good at saving, even at my old job i’d spend less than a grand a month including “rent”. + +But that seems bonkers considering, right? + +So what are the things I need to do to keep myself financially savvy in this situation? +I'm pretty young, <30, basically retired through a windfall that was not career related. NW \~$10MM. + +There's no big pressure for me to work anymore, but some small amount of income through my own effort does make a difference given my time horizon is \~50 years (with any luck). + +A lot of full-time jobs are a raw deal and take a ton of time, and I can't seem to find any meaningful part-time work in my field. I also have this impression that freelance gigs are low quality. As background, I have some years of experience in software but I'm not sure I want to stay in it, if my only option is to grind. + +Does anyone have any suggestions or ideas about how to handle, both practically and emotionally, this situation, and how to experiment with finding meaningful work? + +I recognize that I'm pretty young and that things and priorities change. Mostly trying to take things slowly. That being said, I have a ton of energy to produce things but am struggling with finding the right outlet for that energy. +/r/Ethtrader used to be a place where people would share news and analyze the current situation of Ethereum and make predictions on what their next trading moves are. With the influx of new "traders", this place has turned into a meme-fest and new buyers trying to give motivational advice with every dip like the end of the world has come and need to provide moral support like they were shot and dying. + +Seriously, the crypto world is a blessing where everything is unregulated and you can make serious money. Buy dips. Don't make panic market orders. Analyze trends and make plans and stick to them. + +If you really want to make money, take a look at the charts for every coin on major exchanges. They are ALL in profit unless you were dumb enough to not catch a dip. This place has turn into /r/EthereumCircleJerk (Someone make this please to rid of the garbage). + +Money is to be made BOTH ways up and down by being smart. If you are HODLing, nothing wrong with that but you aren't a trader. You are a HODLer, which is fine. HODLing is a strategy, but please stop posting into /r/ethtrader. The amount of useless posts and downvotes for serious analysis is messing with the real traders. + + +**There are two types of people:** + +**HODLer:** Buys and rides the waves up and down. Gets high from euphoria on making money and provides moral support to everyone to make themselves feel better by trying to convince people to hold and not sell so the price doesn't go down. Downvote all negative news while upvoting positive news. Will defend their investment to ensure the reputation doesn't get damaged to ensure the price keeps rising. + +**Trader:** Analyzes the current market situation, finds new potential investments, keeps up with news of the market to exit or enters positions. Downvotes or upvotes people who disagree or agrees with their decision. Asks questions for the sake of making more money. + +Neither is wrong or right. + +It's the just /r/ethtrader has turned into moon or moral support and the real trading advice has become muddy from the HODLers. If you are HODLer, please stop being so active and find/make a new subreddit for the moral support and rejoicing. + +**STOP DOWNVOTING REAL TRADING INFORMATION.** + +Look at what this place used to be years ago (Daily threads) to what it is now. Actual trading advice. + +Jesus Christ. I have been in the trading crypto scene for way too long and its sad to see what it was to what it is now. I've been through the downs of losing $50,000 in a week to ups of making plenty more. Losing money on exchange hacks to riding super pumps like EXP. + +Really think before you post.... Is what I am saying or upvoting/downvoting trading information or is it some garbage move because it is fun. Real money is on the line here and the garbage I am seeing these days makes me realize we are in a bubble and it will all come tumbling down when there aren't enough relatives and friends for the new crypto "traders" to reel in. This bubble may not pop right now, but really realize that this euphoria won't last forever and eventually it will correct and if you don't take the time to see the big picture and learn what trading is, people WILL get rekt. This isn't the moon post anyone wants to hear, but try telling that to the people who know how markets work. If you are new, heed my words that you better start learning how markets work or else you are just a fool who found a fun train to ride on and made some money for now. The crypto markets aren't the traditional stock markets. Small ripples turn into big ripples and money doesn't stay in crypto forever because fiat is what most people are gauging their portfolio by. + +Good luck to everyone no matter where you stand, whether for the tech or for the money. Greed is the root of all evil. + +**HAVE. A. PLAN. AND. STICK. TO. IT. if you don't, MAKE. A. PLAN.** +https://www.wsj.com/articles/sec-revives-fight-over-inability-to-inspect-chinese-auditors-of-alibaba-baidu-1544229843 + +>Statement issued in advance of accounting conference on Monday where SEC chairman plans to speak about the problem + +>American regulators resurrected a long-simmering fight over their inability to inspect audits of Chinese companies that are traded on U.S. stock exchanges, saying the situation prevents investors from getting information they need. + +>The U.S. Securities and Exchange Commission said Friday that, despite several years of talks with its Chinese counterparts, regulators still face obstacles to getting information needed for accounting investigations and inspections of China-based auditors. + +>The SEC issued the statement in advance of a major accounting conference on Monday where its chairman, Jay Clayton, plans to speak about the problem. + +>“China’s state security laws are invoked at times to limit U.S. regulators’ ability to oversee the financial reporting of U.S.-listed, China-based companies,” the SEC said in a joint statement with the Public Company Accounting Oversight Board. “The inability to date to achieve this level of regulatory cooperation with Chinese authorities raises a number of investor protection and general oversight issues.” +Prior warning, this may be a very stupid question. + +In the past 2 months my portfolio has seen major gains, and I have now reached a point where my gains (p/l) have eclipsed 12,000£ for the tax year. + +Most of my gains are not realized as the positions are still open and I have not sold since buying. + +As far as I am aware you are allowed £12,000 pounds of tax free capital gains a year. However if I do not sell my position then these are brought forward to the year that I do decided to sell. + +Here comes the potential stupid question. + +Can I sell and immediately rebuy into the same position, essentially realizing the gains for this year, and using the Maximum £12000 allowed. + +Thanks for the help +I was watching bloomberg where they are doing the "12 days of bitcoin". The guy that is hosting the series gave bitcoin gift certificates to the other two hosts. One of them opens up the certificate to reveal QR code of the private key. They then proceeded to show a closeup of the QR code in glorious HD for about 10 seconds. Hilarious. + +Netflix Inc. overtook cable giant Comcast Corp. in market value on Wednesday, highlighting the dramatic rise of video streaming at the expense of traditional television. + +Netflix, the best-performing stock in the S&P 500 Index this year, set a fresh record with a gain of 3.4 percent on Wednesday, while Comcast fell 1.8 percent. That pushed Netflix’s market value to about $149 billion, surpassing Comcast at $147 billion. + +It’s the second time this month that Netflix has dethroned Comcast in valuation, but the lead may have more sticking power this time. Shares of the video-streaming company have risen more than 5 percent this week, which began with the announcement of a multiyear production deal with Barack and Michelle Obama. + +Comcast and other cable providers have faced growing competition from streaming services like Netflix, which are attracting more customers by adding original programming. Comcast said last month that it lost 96,000 video subscribers in the first quarter , a bigger decline than analysts had expected. + +via Bloomberg.com + +Link: https://finance.yahoo.com/news/netflix-now-worth-more-comcast-193359643.html +Morgan Stanley’s optimistic view of the economy isn’t keeping it from warning about a looming correction in the U.S. stock market. “The issue is that the markets are priced for perfection and vulnerable, especially since there hasn’t been a correction greater than 10% since the March 2020 low,” said Lisa Shalett, chief investment officer of Morgan Stanley Wealth Management, in a note Tuesday. The bank’s global investment committee expects a stock-market pullback of 10% to 15% before the end of the year, she wrote. + +“The strength of major U.S. equity indexes during August and the first few days of September, pushing to yet more daily and consecutive new highs in the face of concerning developments, is no longer constructive in the spirit of ‘climbing a wall of worry,’” said Shalett. “Consider taking profits in index funds,” she said, as stock benchmarks have dismissed “resurgent COVID-19 hospitalizations, plummeting consumer confidence, higher interest rates and significant geopolitical shifts.” + +She suggested rebalancing investment portfolios toward “high-quality cyclicals,” particularly stocks in the financial sector, while seeking “consistent dividend-payers in consumer services, consumer staples and health care.” + +[https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page](https://www.marketwatch.com/story/stocks-may-fall-15-by-year-end-warns-morgan-stanley-here-are-some-portfolio-moves-investors-might-consider-11631057723?mod=home-page) +In a state with one of the best protections for Bankruptcy. Factor this in with Big Dick Dave talking about citadel not really market making.. hmm + +The purchase: + +https://nypost.com/2022/09/08/ken-griffin-sets-record-with-miami-home-purchase-for-109m/ + +The law: + +https://www.esclaw.com/blog/floridas-homestead-exemption-a-double-edged-sword/ + + +Seems like someone is trying to squirrel away a nut or two. +[US Central Bank is going to raise interest rates later March.](https://www.msn.com/en-us/money/markets/powell-says-rates-are-headed-higher-even-as-ukraine-poses-uncertainty/ar-AAUvThI?ocid=msedgdhp&pc=U531) + +Feds will move toward a “predictable” shrinking of its big bond holdings after raising rates, a move that will take additional steam out of the economy, and that it will discuss those plans at its meeting ending March 16 without finalizing them. According to Jerome Powell. "...." +While reading this subreddit I’ve noticed many people have various brokerage accounts. Some have one account for dividend stocks and others for growth stocks etc. What is the reason for this? + +Wouldn’t it be more convenient to keep all investments in one brokerage account? Or at least multiple brokerage accounts under one brokerage firm. +Hi guys, + +I recently came across research from NYU Business school titled "Explaining the Recent Failure of Value Investing". You can [access the research here](https://poseidon01.ssrn.com/delivery.php?ID=912071094074108092066116024086024110000069085067010018086003073122075007022002096121034011107062116011014120094064064003114029015069090069028010069083101119101112019086019004096020079096119070071011087116016111102003088121065118084103064126080127114&EXT=pdf). + +Just from the title of that, this is intriguing. I like being challenged by my current convictions, and if smart people from NYU wrote a paper about it - I'll read it. + +But I do have some thoughts about the research that I'd like to share with you. + +As I see it, reading this paper has these parts: + +1. Defining value investing. +2. Explaining the recent failures of this value investing: + 1. Accounting of the new world preventing classic value investors from capturing value + 2. Economics changes that change the potential of mean reversion and keep value investors out of growth stocks that perform. + +**Defining value investing** + +When talking about value investing, this part is usually my first suspect. + +Value investing as a broad title across decades is meaningless. + +What is value investing? Graham traditional cigar butts companies? Buffett long neglected this strategy and adopted a "buy great companies at a fair price". Which is obviously not cheap companies by definition. + +Even Graham himself adapt his own strategy through time. Try reading the first edition of "The intelligent investor" and the last edition. From the 40s to the 70s the strategy has changed. + +Moreover, and this is important: Value investing as we treat it today consists of fundamental qualitative research as it is of qualitative research. + +Researchers usually can only see quantitative measures, so in the worst cases, we fall to defining value investments as a low book to price ratio. + +They even address this in the paper, writing: + +>Piotroski (2000) and Mohanram (2005) advance value strategies that add “quality” parameters to the book-to-price (B/P) ratio. Obviously, we cannot examine all the value indicators used by researchers and investors. To keep our analysis focused and readily interpretable, we primarily identify value and glamour stocks by the market-to-book ratio, since it is the most frequently used indicator by researchers. + +Well... then.. this is nothing. + +I'm sorry to be harsh, but maybe the title of the research should be "Recent Failure of **Classic Cheap Book Value** Investing". + +Or we should globally pick a new name for value investors. + +Yet, some use this strategy as part of the value investor tools arsenal. And the claims in the rest of the paper are super interesting and valuable. + +**Modern accounting deficiencies** + +What they say, and I totally agree with, is that modern accounting fails to reflect real values on the balance sheet, rendering the book value measurement useless. + +Particularly, intangible assets are misrepresented. + +Brand value, human resources, etc. And when we talk about any kind of tech in a company it becomes even harder due to R&D value. + +I have nothing to add to their general idea, which seems very true to me. I recommend reading their paper on that if that interests you - they go into much details. + +**The value strategy and mean reversion** + +Again, I recommend reading the paper but I'll say this: + +The slowdown in mean reversion they see in value stocks is directly connected to the prior definition of value stocks which I talked about in the beginning. + +Two mean reversion examples I explored on my Twitter: + +Chipotle after E. coli and Salmonella scandal: [https://twitter.com/snird/status/1321578236833398785](https://twitter.com/snird/status/1321578236833398785) + +Netflix after Qwickster debacle: [https://twitter.com/snird/status/1321578243204460544](https://twitter.com/snird/status/1321578243204460544) + +These won't be considered as value in their research, but are well considered as value opportunities by the wide value investing community. + +Regardless of that, they raise an excellent point on the new economic conditions that makes the mean reversion opportunities more scarce. + +It would be an oversimplification, but I'll describe it like that: + +\- Easy access to capital (debt & equity). Much easier than ever before in history. But just for big businesses. + +\- Small businesses were cut out of funding of banks and got stuck on low valuations that did not allow them to get into the stock market - keeping all those "value" investments out of the market. + +\- New ventures do not really need much capital. Based mostly on R&D. Many of them never go into the public market at all. + +All true. And interesting. + +Some of those points will get to an even more extreme state with the post-Covid economy. + +But nevertheless, as I described before, the mean reversion opportunities will still exist. They just won't fall into the classic definition of value stock mean reversion. + Hey atobitt, if you can read this please take a look at this thesis in the link below. Thx and keep up your work! + +&#x200B; + +[ILF\_WP\_068.pdf (ilf-frankfurt.de)](https://www.ilf-frankfurt.de/fileadmin/_migrated/content_uploads/ILF_WP_068.pdf) + +&#x200B; + +i dont have time to read through it, i just found a pretty good overlook / scheme in the document: + +&#x200B; + +https://preview.redd.it/v99vzudvkou61.png?width=1008&format=png&auto=webp&s=345f60caf84ee2ba82c4d3b82774bfc66f9905fc +https://www.forbes.com/sites/sergeiklebnikov/2020/04/07/stocks-turn-negative-as-experts-warn-against-undue-coronavirus-optimism/#5e87e8fbe6cd + +https://www.cnbc.com/2020/04/07/stock-market-live-updates-dow-futures-up-800-points-set-to-add-to-1600-point-monday-rally.html + +What do y’all make of this? It was quite interesting to see the Dow slide 600, then go back up, then lose at the end of the day. + **# What is $RAINBOW?** + +&#x200B; + +$RAINBOW is a hyper-deflationary, multi-faceted token that employs 7 resilient protocols popular right now in crypto. These seven protocols give it a unique position in the market to weather any type of storm. + +This project isn’t another meme token, the devs are committed to building a presale launch platform called Bifrost that will rival DxSale and they’ve announced an NFT play-to-earn-while-away game Project:IRIS! They’re building a whole ecosystem behind Rainbow, these are early days! + +&#x200B; + +**# How does the token work?** + +Each buy transaction is taxed 7% and split into seven equal portions: + +&#x200B; + +🔴 Burn: A portion is permanently burnt directly to the dead address. Since the dead address also has reflections enabled on it, a faster rate of burning occurs as the number of RAINBOW tokens in this dead address builds. This makes the token truly hyper deflationary, reducing the supply over time and making each token more scarce / valuable! + +🟠 Buyback: A portion of the tax is sold into BNB which is stored inside the contract. This BNB is then used to purchase back tokens after every sell. The purchased tokens are then permanently burnt, meaning the price permanently increases relative to the circulating supply. + +🟡 Reflect: A portion is reflected to every existing holder based on the % of the total supply they are holding. This means just by holding $RAINBOW you earn an interest yield automatically and straight into your wallet. + +🟢 Charity: A portion is used to donate to charities that the development team and community feel strongly about. + +🔵 Liquidity: A portion is used to increase the size of the liquidity pool. This means as time progresses, the price impact of relatively large sells goes down, and larger investors are able to purchase bigger amounts without losing out to slippage. This both alleviates some of the sell pressure whales can put on projects, and allows a larger range of big investors to buy into the project. + +Ⓜ️ Marketing: A portion is sold into BNB and sent to a marketing wallet. These funds are solely used for business & marketing purposes, helping spread the word of $RAINBOW so that more potential investors are exposed to the project. + +🟣 Lottery: A portion is held in the contract inside a side pot. These extra tokens are awarded to a random (real) buyer, this provides further purchase incentive for Rainbow and awards real active investors instead of bots. + +&#x200B; + +They also have their own anti-whale tax bracket for large volume sellers - this is incredibly important as it reduces sell pressure from whales considering dumping their supply! + +For more in depth information on each protocol and the project in general, check out the whitepaper: \[[https://rainbowtoken.finance/whitepaper.pdf](https://rainbowtoken.finance/whitepaper.pdf)\] + +&#x200B; + +**# Why $RAINBOW?** + +Other than the fact that $RAINBOW has a great and unique idea, these are the reasons why I know I want to be a part of it: + +&#x200B; + +🌈 Presale Launchpad utility for the token + +🌈 NFT Game just announced + +🌈 Top Trending on CMC + +🌈 Listed on XT Exchange + +🌈 Verifiably doxed & experienced developers + +🌈 Liquidity locked for over a year + +🌈 No dev owned tokens + +🌈 Incredible marketing plan + non-stop growth + +&#x200B; + +**For all these reasons, this project is more than worthy of being a part of - but don't take my word for it! Read the whitepaper, come join the Telegram and as always, DYOR.** + +\# **Links** + +Telegram: [https://t.me/rainbow\_crypto](https://t.me/rainbow_crypto) + +Website: \[[https://rainbowtoken.finance/](https://rainbowtoken.finance/)\] + +Twitter: \[[https://twitter.com/rainbowtokenbsc](https://twitter.com/rainbowtokenbsc)\] +That's great! Does that opportunity pay a living wage? What about benefits? If the answer is yes, you're awesome! If the answer to either of those questions is no, however, well... you're part of the problem! + +And if that's the case, what does that mean? Oh, right! It means you're trawling a subreddit full of desperate people trying to honestly fight their way out of a bad situation, but with no intention of helping them. And you know what? That's awful. + +I'm getting more and more frustrated seeing recruiters on here saying they "can't find good people" or that they "just can't fill these positions that are open." + +💡Here are some bold ideas to help you recruit💡 + +Have you thought of paying twice the minimum wage? + +Have you thought of providing employer-sponsored healthcare with no or little cost to the employee? + +Have you thought about eliminating part-time positions in favor of full-time jobs with benefits? + +😱 WAIT WHAT'S THAT? YOU NEED MORE HELP JUST TO COMB THROUGH THE QUALIFIED APPLICANTS???😱 + +Don't blame generous unemployment for people not wanting to come back. Tell your owners to pay a living wage. Every single person on this page deserves it. + +Even you. +So i lost, over 50k eur over a year on forex. I do trade 1:500 leavrege, and i think im more into a gambling side. + +I tried to improove my mental state, while trading etc, but emotions roll over me all The time. + +Any advice? +Wondering what the general opinion is here on crypto right now. I don't know what to think anymore honestly. + +If I sell right now I get 5k back which I can put in ETFs or any other stock or do I just let it ride for a few more years? If I lose the money its not gonna be life changing but I'd rather have 5k than 0 obviously. + +What are your guys thoughts on it? With this FTX saga the outlook on crypto is the worst its ever been. Can't say I was a guy who ever cared about the "technology." I know a couple guys with their whole life savings invested into it. + +I'm not very knowledgeable so I'd love to hear some opinions. +Well fuck me, the day I delete a Warren Buffet quote.. + +https://preview.redd.it/u5k5syrrmhf61.png?width=782&format=png&auto=webp&s=b282dda497c1d35433dbe5a98dc8ec9ee037b3f8 + +When Warren Buffett says "be patient" he means you buy a majority stake in Coca Cola and then wait 50yrs while engaging in a nice dividend reinvestment plan. He was not talking about a stock like GME! + +I hate to do this, but sometimes you need grab the wheel because the person trying to drive is fucking up. + +This whole diamond hand be strong stuff is great if you are playing with money you do not need, but I guarantee you that there are hundreds or thousands of people who are brand new to the markets and looking to reddit for some advice. + +Telling them to hold their $300 GME as it plummets is WRONG! + +Plan your entry, plan your exit(s). Set a stop loss, protect your capital, do not fall in love with a stock, it will never love you back! + +If you do not like this advice, unsub and go to an echo chamber that tells you what you want to hear. +I know there are many ways to efficiently use such money but I need your opinion as to personally how would you invest such money, so as to earn interest or other income using that money. +You can elaborate alternative ways in which you could invest as to high risk/ low risk/ medium risk if you want to. +I request the answer shall be educative for noobs like me as to what are the various ways to invest efficiently. + +Edit 1: kindly explain why would you invest in such fund/ investment + +Edit 2: you can also include various types of investments like gold, real estate also +EDIT2: [Moving](https://www.reddit.com/r/CanadianInvestor/comments/itn6hu/find_canadian_etf_holdings_update/?utm_source=share&utm_medium=web2x&context=3) to r/Canadianetfholdings + +&#x200B; + +EDIT: **NEW LINK** + +Sadly, have to move project to a new service provider - spent all week designing this for everyone. + +Details coming in a [new post.](https://www.reddit.com/r/CanadianInvestor/comments/if6q4d/re_search_canadian_etf_holdings_update/?utm_source=share&utm_medium=web2x&context=3) + +Thank you so much for the upvotes, really encouraging. + +\---- + +I know in recent weeks/months I have seen some posts asking how one can find out which Canadian TSX ETFS are holding a particular stock (by search), similar to ETFdb which focuses on the US.Well, as part of a weekend project I made + +[THIS](https://u1uvlvsn399omtt-dbetfholdings2.adb.ca-montreal-1.oraclecloudapps.com/ords/r/andrew/etfholdings-ca/go?session=111888870439962) + +&#x200B; + +Data source is Yahoo Finance TOP 10 HOLDINGS on Aug 15th.You can either look up an ETF by symbol or name or a *holding BY NAME ONLY.* Unfortunately when manipulating the data the symbols got messed up. + +LIMITATIONS:I had to keep my dataset to under 500 tickers so any ticker with the following keywords was removed: Hedge, income, currency, betapro, bond, + +There are some others that didn't make it due to unsuccessfully scraping. + +As I checked with a handful of tickers, Yahoo data is not as up to date as what you will see on an ETFs website. You get what you pay for - it is at least within 1-2% giving you a ball park figure. + +DISCLAIMERUse at your own risk, this is not financial advice. + +Moving forward: + +If you like it, have a suggestion, or want something added. Leave a comment below or DM me. To maintain this I'd have to figure out how to monetize the site - any ideas are welcome. +Link to original thread. I FIREd and quit my job in the US last year, then moved to Thailand to volunteer at a non-profit teaching English to former prostitutes and low-level criminals for tourism industry jobs. I'm an American, ethnically Chinese. +https://old.reddit.com/r/financialindependence/comments/8pv2yd/38msingle_23_million_submitted_my_resignation/ + +I knew the cost of living in Bangkok would be substantially cheaper than what I am used to paying, but I was not prepared as to how much cheaper. My apartment and utilities were provided for free by the non-profit and I lived with my fellow expat volunteers. Some were older couples who wanted their privacy, so they booked their own apartments. Costs ranged from as low as $200 a month for a cheap, non-furnished studio apartment to $375 a month for a furnished studio in a newer building near a Skytrain station in the center of town with security. I was pleasantly surprised that because I was in the country on a sponsored work visa, I was eligible to buy health insurance there as a local. It came out to about $150 a month. Getting international expat health insurance here in America would have cost me up to $500 a month, so a huge savings. I also rarely ate at home and never cooked, since Bangkok is one of the great street food capitals of the world. All kinds of Thai, Chinese, Malay, Indian and Arab food served on the street for about 35 to 70 baht each entree (~1 to 2 bucks USD). I ended up not getting a local cell phone or local cell plan, my Sprint plan included international roaming and the 2G data was okay for Google Maps and web/email use when I was away from wifi, which was rare. + +So monthly fixed expenses came out to + +* $150 health insurance + +* $200 eating out + +* $100 7-Eleven (drinking tap water actively discouraged by authorities due to corroded pipes. Bottled water is substantially cheaper there than here, thankfully. My problem is that when I went into 7-Eleven every day to get the cheap water, I would get sidetracked by whatever tasty unfamiliar snack I would see at the hot food counter that I would then have to try, hence $100 a month blown. Seriously, 7-Eleven in Thailand is amazing, I highly recommend getting lost in one. All kinds of hot noodle soups and baos and sticky rice snacks and cakes.) + +* $150 Skytrain and subway tickets, Uber/Grab app rides on the back of a motorcycle. + +* $250 random spending money on cheap knock-off clothes or gifts to take home or a ladyboy cabaret show or a concert or pro kickboxing match, etc. + +* =$850/month total. +Let's say I had to get my own furnished apartment and pay for my utilities, add another $500 a month. $1,350 a month total is pretty good considering I lived like a king and didn't budget myself at all. I could get that below $1,000 a month if I was more frugal. + +My non-fixed expenses were for airfare and lodging when I would leave town for the weekend to explore the rest of SE Asia. If I could book trips early enough, I could get round trip flights on Scoot or AirAsia to Chiang Rai or Singapore or Penang for as little as $40 round trip. Other than Singapore, Airbnbs and budget hotels were dirt cheap, so those weekend trips rarely cost more than $200 each. + +I wrapped up my volunteer work and came home to America this past week. Was gone about 10 months. Was a great experience, met a lot of new, nice people. Learned a new (incredibly difficult) language. Regret nothing, would do it all over again. I was able to get a small taste of Vietnam during my time there and am fascinated, will probably go live in Hanoi for a few months when I go back in the future. + +My immediate future is to spend the next two weeks hanging out with my family and doing lots of yard work and handyman work around the house. I'll then get on a plane for Scotland to spend two weeks seeing friends and being a tourist. Was a last minute trip, Delta had round trip tickets from select US cities to London Heathrow for $370, I couldn't resist. Absurdly cheap. + +Also - about three or four months after I moved to Thailand, my former boss called me to see how I was and offered me an online-only job, where I would spend about an hour to 90 minutes a day remotely reviewing other people's work, answering internal emails and listening to ideas he would bounce off of me. I wasn't interested, but he insisted it would not be my old job, that I would still be a digital nomad and never come into the office and I would be eligible for 401k matching and the company's health insurance when I came home. So I said yes and I've been doing the job for about half a year. It's been as advertised, I set aside an hour or so a night on my laptop in front of the TV and it hasn't grown into anything bigger yet. The salary is a small, small fraction of what I used to make but it's worth my time. We'll see how things stand after another year. + +[EDIT] Hey, thanks for the gold. First time ever getting it, awesome. + +[EDIT 2] Am getting lots of questions about how I reached $2.3 million, or $2.6 million as of this morning post-jobs report rally. I cover this in my earlier threads briefly - I left grad school at 24 and worked a job for ~14 years. Socked away about $70,000 per year the entire time, so there's half my money. The other half came from investment gains. I did the majority of buying in the years immediately after the 2009 subprime meltdown and financial crisis, large cap US banks and technology names for pennies on the dollar. Many of you are too young to remember, but I remember all of it. Having money in those conditions was terrifying. Bear Stearns and then Lehmann failing were earth shattering events. I lost entire $20,000 to $30,000 investments in companies in the blink of an eye. The ones that survived and thrived, those gains are still largely unrealized. meaning I have not sold them yet and I'll get slapped with an enormous long-term capital gains tax bill when I do, which is fine. Obvious question, how was I able to save so much for so long. One big reason is living in a southern state with low cost of living and no state income tax. I'm able to hold onto at least $15,000 to $25,000 more per year based on those two factors alone compared to someone in California, for example. The drawbacks to that are the government services in my state are pretty crap and minimal and all our new highways are toll roads, and so forth. + +[EDIT 3] What am I going to do when I get back from the UK in a month? The plan for now is to spend real quality time with my family, I've been gone for a year. I'll be home for three months, maybe longer. Reconnect with friends and so forth. I plan on then leaving at the beginning of fall for a months-long driving trip around the Western US and Canada, hitting up as many national and state parks as I can. For years, I have followed r/vandwellers and r/tinyhomes and wanted to buy a gutted Mercedes Sprinter cargo van with the extended ceiling to build a living space in. I've decided now not to do that for gas mileage and excess space reasons, it's more space than I need by myself. I'm probably going to buy a used Nissan Rogue and spend a week performing minimal modifications. Such as buying plywood to construct a bed platform in the back that allows me to store clothing below the bed. Can install a minimal solar kit on the roof so I have power for my laptop and phone at night. Can either camp at night, stay at Airbnbs or sleep in the car. Can shower at truck stops or Planet Fitness locations with my membership. I'll drive south to Arizona, New Mexico and Texas when the heavy snow and ice starts to fall and resume my trek north next spring. We'll see. +Hello, investments experts! + +A few years ago, my grandparents passed away and my mom received some money as her part of the inheritance. One of her friends advised her to make some investments for the times she retires and she won't let go of that idea. + +After hours of googling, she decided she wants to buy a house or a condo in South Carolina (she always dreamed to live near the ocean). Asked if she is planning to move to another state, she told me that she wants to buy it for rental and that she's not planning to live there until retirement (that's another 17 years). + +After consulting with her husband (who believes himself an expert in everything) and her accountant she became even more determined to go through with the whole plan. + +She already made an appointment with a Real Estate Agency like this one [https://www.homeguidemyrtlebeach.com/](https://www.homeguidemyrtlebeach.com/) and next week I'll have to accompany her while she will meet with the agent ("This will be your inheritance!" she says). + +I'd like to know if this idea is worth the effort. Honestly, I'm afraid that it will cause only problems and no profit. First, it will take some time till she'll find a place she likes (it takes her weeks to chose a pair of shoes) and I'm not sure that she won't decide to renovate it. Second, the number of fees she'll have to pay gives me chills and the feeling is not the best investment. And also, how about those hurricanes that periodically shatter the coast? + +Maybe it will be better to buy some property near Springfield since the rental payments in South Carolina are lower? I'm worried that all this investment plan will turn up to be a loss of time and money. + +Since I don't know anything about the real estate market, + +I'd be grateful for any piece of advice. + +Thank you for sparing a minute of your time for me. +For a while it felt like I'd never be safe again. Today I'm 19 with a place all to myself, food in my belly, and hope in my heart. It took a lot of doing to get here. Two jobs, days of searching for somewhere I could afford, trying to find places to stay so I could keep off the streets... +I'm proud of how far I've come. + + +Things may seem impossible now, but you'll get through it. +I'm not talking swing trading before the next FOMC meeting. Nor am I talking about Bogleheads whose time horizon is 30 years or forever... I am talking to the average Joe who is already contributing to their retirement plan but has excess funds to put into a brokerage. Are you guys actually bullish by putting those discretionary funds into your brokerage right now? What kind of bull case do you see right now over the next several months? Almost all the pundits have been ringing the bell over a global recession. The bond market which supposedly has the most sophisticated investors is signaling a yield inversion not seen since 2000. Industry leaders are seeing stark decreases in demand and the CEO of FedEx was almost in tears. Are they wrong? What do you truly believe? +Hello everyone, so the story is that i have tried everything under the sun in the world of options…even though overall i am way in the negative i just love this as i get to learn so much about money moves…i have about $100k left in my margin acct with 200k buying power and wanting to make $100 per day…is that too much to ask?…are there any fairly consistent strategies that one can apply? To make it harder for you guys i also have a full time job…possible or should i just put money in vti or spy and just stay still? + +Appreciate the thoughts. +We found out my dad had terminal brain cancer when I was 18. I'm 19 now and my mom just had a talk with me telling me that when my dad dies, she will live with her aunt, and I will live with another aunt. I'm getting separated from my parents, but at least I'm not going to be homeless. I work a gig/job where I make 75$ a week and currently go to school (i get no financial aid except for BOG which is means my school is partially paid for). Is there anything I should know/do/be aware of from now on. I'm just really lost + +Edit 1: thank you for all the advice and replies, there are a lot of questions that I see are great on my notifications but get lost within the comments so I’ll give a little more details about me here. +I’m currently going to community college and I’m studying Electrical Theory trying to get a certificate, I applied to the IBEW (an electricians union where you work/learn) and I hope I get in within the next year. Moreover onto the grieving part, I’ll try to talk to a counselor about my situation soon, and my dad has brain cancer for about 7 month, so ive done my grieving for a while now, but I can’t help it but feel sad everytime I see him sleeping in the couch in the living room. Anyways thank you for the advices and sweet comments + +Edit 2 : this isn’t at all related but something bizarre/superstitious. Last time when we received the news about my dad being diagnose with brain cancer, my car battery died at school, now that he’s back in the hospital awaiting his death, my car battery dies again, at school. + +Edit 3: my mom and I just had a talk on the phone, and briefly she told me that I will be staying with my aunt for a while, about 3-5 month until all the paperwork and stuff are completed, then she is going to find an apartment for me and her. For my dad, she told me the hospital is going to transfer him to some kind of home or living unit in USC, I’m not sure what’s still going on, but all I know is that we won’t be seeing him. I’m going to go visit him this afternoon and we’ll see from there. + +Last edit 4: My family will place my dad in a hospice/nursing home, and we will visit him frequently. He is home alone nearly everyday as everyone has work or school. So we will try to visit him everyday until he passes away peacefully. Me and my mom will try to find a cheap apartment as I’m still searching for a job as a material handler/helper in Los Angeles. Thank you everybody for your prayers/ advice/ tips. Good bye, pm if you are curious about anything else. +**Summary** + +A Comet, according to NASA is " a cosmic snowball of frozen gases, rock and dust that orbits the Sun. When a **comet's** orbit brings it close to the Sun, it heats up and spews dust and gases into a giant glowing head larger than most planets. " What does that mean? We are not only going to the Moon but to the Sun instead. /s + +CRL is a Junior Explorer that has substantial upside to its current position, if drilling comes back successful. It has three main projects but two are of further interest. Cashed up recently after a $1M Capital Raise at 2c to Peloton Capital who have quite a decent track record and relatively low expenses, only burning through >$200K last quarter and has three imminent drilling programs. Worthy punt at a small EV. The two major projects are Copper and Gold based. + +**Company Information** + +SP - 2.5c + +MC - $15.3M + +Cash - $3.38M + +EV - $12M + +SOI - 612,587,269 + +**Copper Project (Barraba)** + +[Copper 10 Year Highs \(Credit: Assad Tannous\)](https://preview.redd.it/rp67lm2365h61.png?width=1718&format=png&auto=webp&s=245c8b75adfdf8cfae5e471ffca7b1f280403854) + +Copper is breaking out and continues to foray onward, fundamentals on this commodity are bullish. Do your own research on why. + +CRL has two NSW based copper tenements, with a 5% average on the grades. These are very high grades, and whilst they are historical results if the imminent drilling programs return roughly the same grades or HIGHER this will explode. + +Drilling on the Gulf Creek Mine tenement is about to commence imminently. Drilling targets for the Murchison tenement are being planned currently. + +Because both these tenements are based in Australia, they attract a premium and investor confidence is higher here than compared to overseas copper projects. With copper continuing to break out, there is no doubt that this is the main reason why this miner looks so attractive. + +Successful drill results on the Gulf Creek tenement would be the catalyst to a re-rate. + +**Gold Project (Santa Teresa)** + +High Grade Shallow Gold in Santa Teresa (Mexico). A shallow gold play with a monster deposit that I'm sure most of you would be familiar with is NVA in Alaska. + +Drilling to commence Q1 2021 + +Read the full announcement here + +[https://newswire.iguana2.com/af5f4d73c1a54a33/crl.asx/6A1012789/CRL\_Santa\_Teresa\_Gold\_Project\_Drilling\_to\_Commence\_Q1\_2021](https://newswire.iguana2.com/af5f4d73c1a54a33/crl.asx/6A1012789/CRL_Santa_Teresa_Gold_Project_Drilling_to_Commence_Q1_2021) + +JORC can be found here. 7.5 g/t average. + +[https://newswire.iguana2.com/af5f4d73c1a54a33/crl.asx/6A1000863/CRL\_Initial\_JORC\_Resource\_Santa\_Teresa\_Gold\_Project](https://newswire.iguana2.com/af5f4d73c1a54a33/crl.asx/6A1000863/CRL_Initial_JORC_Resource_Santa_Teresa_Gold_Project) + +Permits for drilling expected to be recieved by Q1 CY2021 (March latest)Commencement of drilling program to be expected by Late Q1/ Early Q2 2021 + +Of interest to note is the fact that CRL has already signed an agreement w/ Raptor Capital who they acquired the Santa Teresa Project from in relation to royalties and payments once CRL has started production from Santa Teresa. This indicates a high level of confidence from Raptor to the likelihood of CRL actually being able to produce. + +**Capital Markets Thoughts** + +Peloton Capital did the recent raise at 2c. In exchange for their services, they were given options with varying strikes. + +1. 6.1M with a 3c strike +2. 6.1M with a 5c strike +3. 6.1M with a 7c strike + +Peloton has had a generally solid success rate with raises they are involved in, but they do a lot more of them compared to the likes of Canary Capital who are more picky and co-invest with clients. Some of Peloton's best performers have been IHL who they raised at 7.8c, IHL recently hit highs of 22c this week. They also performed a raise on RNT in 2018 at 7.7c. RNT has exploded recently to 28c after Bevan Slattery's placement. It is moreso their options incentives that provides some magnets to the SP. + +Sophisticated Investors who took the raise were given free options with a 3c strike, 25M total. What is a likely outcome is that they trimmed profit from their 2c placement shares and keep the free options, but no doubt they would like a pump well above 3c so they can exercise and profit. + +There are also three sets of unlisted options with a strike of 0.06c, and one set with a strike of 2c. These expire June 2021, no doubt these oppie holders would like CRL to be above 6c by then. + +**Final Thoughts** + +Risk/Reward is compelling here, especially at these levels. With Copper proving to be a remarkably strong and hardly discussed commodity, the drill bit will do the talking with two tenements in the Copper Project and if either or both strike big, the SP will re-rate accordingly. It is also a positive that the Copper Project is Australia based, investors always add a premium for that versus overseas plays. + +The Gold Project also adds additional potential to the play, and Santa Teresa could be drilling simultaneously alongside the Copper tenements if permits are granted on time. + +**A message** + +RIP RicklePickleMyDickle. Rest in Pumphalla, Any retards that thought they should P&D this stock I hope you have all paperhanded out of it by now, fuck off. + +&#x200B; + +https://preview.redd.it/ydpm54vh65h61.png?width=504&format=png&auto=webp&s=b06a8d6ed1e54b3498c363ba757e99746ef55ee4 +I own 2 rental properties and am currently depreciating both. One I own and the other has a mortgage still. Looking for opinions on the ins and outs of depreciation. Someone told me not to depreciate them based off of thier experience. +Thanks for any input. +Was already on an OK offer - £24 for 100mb. Due to go up to £44 next month as the 18 months had ended. Called them yesterday, told them I'd seen an offer with Vodafone that's £25 and £150 off (so £18 a month effectively). Their best offer was £25 (even after offering me £30), so told them no. + +Like clockwork, 23 hours later they called me and gave me it for £17 and included some streaming box. + +If you're out of contract for any service like this, do it. The key part is actually saying no, I want to cancel, and wait for the call back. +https://www.bloomberg.com/news/articles/2020-02-23/intuit-nears-deal-to-buy-credit-karma-for-about-7-billion-wsj + +Do you think CK will still offer its free tax software? +**TL;DR** + +**Investment companies are filing for amendments to combine the liability of holdings not registered with the SEC investment companies and they're buying government bonds through Principal Funds and filing those, while changing the language in their contacts regarding using those funds to up their liability insurance and assumedly collateral, or at best stability.** + +**A number of these bonds have a value in the trillions.** + + + +Okay here we go + +I've spent the entire weekend pouring through SEC filings, and they tell a slow but compelling story that's been unfolding. + +Some of the screenshots are in my post history, and it's just that cause i haven't a clue how to put pictures in text. Or how it all tied together...so far. + +Yes I'm really that dumb, so i guess you can't take a grain of financial advice from this. + +But I'm going to try my best anyway to spell it what ive seen so someone who isn't dumb can look at what im seeing. + +The latest form I've been looking at is the 40APP/A which is is companies appealing to get or renew an Amendment for them and their holdings, or " Amendment Application for an Order under Section 6(c) of the Investment Company Act of 1940, as amended (“Act”) for an exemption from Sections 2(a)(32), 5(a)(1), 22(d) and 22(e) of the Act and Rule 22c-1 under the Act, under Section 12(d)(1)(J) of the Act, for an exemption from Sections 12(d)(1)(A) and 12(d)(1)(B) of the Act, and under Sections 6(c) and 17(b) of the Act for an exemption from Sections 17(a)(1) and 17(a)(2) of the Act." + +Here's Act 22c-1 for the peeps who don't want to look it up + +**** +> § 270.22c-1 Pricing of redeemable securities for distribution, redemption and repurchase. +(a) No registered investment company issuing any redeemable security, no person designated in such issuer's prospectus as authorized to consummate transactions in any such security, and no principal underwriter of, or dealer in, any such security shall sell, redeem, or repurchase any such security except at a price based on the current net asset value of such security which is next computed after receipt of a tender of such security for redemption or of an order to purchase or sell such security: Provided, That: + + +(Prospectus? That'll come up later) + +****** +12 d 1 A + +> (d)Limitations on acquisition by investment companies of securities of other specific businesses +(1) +(A)It shall be unlawful for any registered investment company (the “acquiring company”) and any company or companies controlled by such acquiring company to purchase or otherwise acquire any security issued by any other investment company (the “acquired company”), and for any investment company (the “acquiring company”) and any company or companies controlled by such acquiring company to purchase or otherwise acquire any security issued by any registered investment company (the “acquired company”), if the acquiring company and any company or companies controlled by it immediately after such purchase or acquisition own in the aggregate— +(i)more than 3 per centum of the total outstanding voting stock of the acquired company; +(ii)securities issued by the acquired company having an aggregate value in excess of 5 per centum of the value of the total assets of the acquiring company; or +(iii)securities issued by the acquired company and all other investment companies (other than treasury stock of the acquiring company) having an aggregate value in excess of 10 per centum of the value of the total assets of the acquiring company. + + +***** +12 d 1 b + + +> (b)Distribution by investment company of securities of which it is issuer + +It shall be unlawful for any registered open-end company (other than a company complying with the provisions of section 80a–10(d) of this title) to act as a distributor of securities of which it is the issuer, except through an underwriter, in contravention of such rules and regulations as the Commission may prescribe as necessary or appropriate in the public interest or for the protection of investors. + + +12 d 1 d is pretty important toooooo + + +> (d)Limitations on acquisition by investment companies of securities of other specific businesses +(1) +(A)It shall be unlawful for any registered investment company (the “acquiring company”) and any company or companies controlled by such acquiring company to purchase or otherwise acquire any security issued by any other investment company (the “acquired company”), and for any investment company (the “acquiring company”) and any company or companies controlled by such acquiring company to purchase or otherwise acquire any security issued by any registered investment company (the “acquired company”), if the acquiring company and any company or companies controlled by it immediately after such purchase or acquisition own in the aggregate— + + +***** +12 d 1 J + + > (J)The Commission, by rule or regulation, upon its own motion or by order upon application, may conditionally or unconditionally exempt any person, security, or transaction, or any class or classes of persons, securities, or transactions from any provision of this paragraph, if and to the extent that such exemption is consistent with the public interest and the protection of investors. + + +Here's more about 17(a) and 17(b). [The order is so old they just scanned it in lol](https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.sec.gov/rules/final/1968/34-8429.pdf&ved=2ahUKEwiq0Luk34jwAhWTLc0KHXAMBQAQFjAAegQIBhAC&usg=AOvVaw29IR5PAVlyq7kU-wXj80ov) + + +***** +17a + + > § 270.22c-1 Pricing of redeemable securities for distribution, redemption and repurchase. +(a) No registered investment company issuing any redeemable security, no person designated in such issuer's prospectus as authorized to consummate transactions in any such security, and no principal underwriter of, or dealer in, any such security shall sell, redeem, or repurchase any such security except at a price based on the current net asset value of such security which is next computed after receipt of a tender of such security for redemption or of an order to purchase or sell such security: Provided, That: + +***** +17 b + + > (b) For the purposes of this section, + +(1) The current net asset value of any such security shall be computed no less frequently than once daily, Monday through Friday, at the specific time or times during the day that the board of directors of the investment company sets, in accordance with paragraph (e) of this section, except on: + + +There's also a whole bunch of amendments to those if you want to read more. + +https://www.law.cornell.edu/cfr/text/17/270.22c-1 + +And ofc there are more rules in the Amendment above that aren't going to be linked here. They are publically available. + + +SO + +What are a whole shitload of banks doing filing 40/APP in the past two weeks? They're multi-filing under multiple holdings to allow all of them to not only be able to make previously prohibited decisions but also to let them all be [liable for each other.](https://www.sec.gov/edgar/search/#/dateRange=30d&category=custom&forms=40-APP) + + And, if you'll notice in the language, also so they can quickly sell securities to other (themselves I assume) investment companies and right back for profit. + +Now let's move on to this big ass sale that Banks are having, JP Morgan 13 billion, Bank of America 15 billion. Wells Fargo legit selling their asset investment holdings after combining it with Corporate and changing their numbers to reflect it. + +Principal Funds just took a shitload of Government Money Market Funds And they have filed a ton of Repurchase agreements and more to, well. Lol municipalities, federal, state, city that are insured. + + +Principal Funds has in their paperwork as reads + + > "Objective:    The Fund seeks as high a level of current income as is considered consistent with preservation of principal and maintenance of liquidity." + + +And a part of the buying contract is + + > "Repurchase Agreement Risk. If the other party to a repurchase agreement defaults on its obligation under the agreement, the Fund may suffer delays and incur costs or lose money in exercising its rights under the agreement. If the seller fails to repurchase the security and the market value of the security declines, the Fund may lose money." + +Repurchase agreements that a whole bunch of big banks are doing with Principal Funds for everything, including US Treasury. + + +https://www.sec.gov/Archives/edgar/data/898745/000089874521000318/xslN-MFP2_X01/primary_doc.xml + + + + +[Oh and for the more reading that I'm wtfing, they've made changes to the 2a-7 in 2014, here's all the amendments in blue.](https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.sec.gov/rules/final/2014/33-9616-rule-2a-7-amendments.pdf&ved=2ahUKEwiWrdmq7ojwAhWVVs0KHcVNCWsQFjAAegQIBRAC&usg=AOvVaw0gN2jW3RuvVSyD4MeSX1T4) + +More interesting readings + +https://www.law.cornell.edu/cfr/text/17/240.15c3-3a + + i need to sort from all my crazy screenshots and random links. + + + +About those changes to Money Market Funds in 2014. + +There was another time that Rule 2a-7 was amended... Right after the 2008 market crash. It even got referenced in the filings. + + +[Here's amendments in blue for 2a-7 2010.](https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.sec.gov/rules/final/2010/rule2a-7amendments.pdf&ved=2ahUKEwiMqN2i_4jwAhVPLs0KHay4Cd4QFjACegQICxAC&usg=AOvVaw0IeAzQU534KO5LOKQFgIqO&cshid=1618790764738) + + +Check out 32, which is a whole NEW addition regarding Weekly Liquid Assets that, lol, include government securities, and ones specifically offered as a discount. + +They also changed the language of Repurchase agreements. + + + +An N-MFP2 is + +FORM N-MFP +MONTHLY SCHEDULE OF PORTFOLIO HOLDINGS +OF MONEY MARKET FUNDS + + +[Look at all of them running to file and those dates. Those fucking dates. All those Liquidity Funds.](https://www.sec.gov/edgar/search/#/dateRange=30d&category=custom&forms=N-MFP%252CN-MFP1%252CN-MFP2) + + + +That must be why they're all burning the midnight oil. + + + +*** +Bonus Round: + +[Stuff they passed for 2a-7 on July 21, 2008](https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.sec.gov/rules/final/2008/ic-28266.pdf&ved=2ahUKEwiiqu6EgonwAhXMZc0KHeuZAGUQFjADegQICRAC&usg=AOvVaw12ff-HlKP-v-ulU_2J4UqW) + + +Didn't something happen in SEPTEMBER 2008? + +I guess I'll think about it while I make a Part 2, reluctantly, cause this is really hard and i have no organizational skills. + +I'll include more details that banks are buying up these through Principal Funds. Next round. + +Also, why are a bunch of retirement funds 8ks showing 1 gamestop share? Fellow apes or insurance? + +And I'll go over why prospectus is important, cause all your banks are frantically filing them to change their contract language. + +[Part 1.5](https://www.reddit.com/r/Superstonk/comments/mtt8wg/master_feeder_funds_privately_negotiated_loans/?utm_medium=android_app&utm_source=share) + +Edit: changed billions to TRILLIONS + +Edit 2: guys i learned how to bold + +Edit 3: it didn't bold nm + +Edit 4: look! i got it guys thanks for all the help and patience lmao + +Edit 5: look look i made my first hyperlink on reddit guys + +Edit 6: it looks better! +Hello Apes! + +Another ape and I had it in mind to post something like this periodically, so here we are! It seems to be helpful! Not just Ape no fight Ape, Ape Help Ape. WAGMI. + +I’m just acting as the messenger, hopefully I can make everyone's day better as well. No one has to be struggling or feel alone. + +—— +Hello all, so this has been getting a good reception and helping people in many ways, and I'm just so happy for that. Did everyone have a good week? Do anything for Valentine's day? Or maybe not, it's okay, you're not alone. The market is closed on Monday, and 2sday is looking to be an interesting one, so we all have that to look forward to. + + Anyone need food or essentials? Please reach out to the community and speak up! No shame. Many here can help make sure that you and your loved ones are good. There is no reason anyone should be without. Ive seen so many comments of people in tough times, it just absolutely pains me to see this. I don't know how to even do this. I'm sure we can find a way in keeping this responsible and anonymous. + +No one should be without. We're all family here. Even if this helps a few people then it's worth it. + +If you need help, if you're struggling, please ask. We are all a collective community, and there's no shame in seeking support if you need it. Also you don't need to be in the same area, hopefully you can find someone/people to help! Cheers everyone 🍻. + +And for the critics, not everyone who's struggling is over leveraged. Alot can change in a year, and you just never know what people are truly going through. A little compassion never hurts 😄. + +Use your gut and ape help ape! WAGMI +I had a thought/theory, so please poke holes where possible.. I am happy to hear I am wrong to save the time/money/trouble... + +**Backdrop**: Based on the bull market we've been in the past few years, inventory in the market(s) I want to invest has been limited and I am anticipating significant inventory becoming available in the coming months. I have enough liquidity to buy and hold and am comfortable incurring some levels of risk for the long term gain of building a strong real estate portfolio. + +**Theory**: My thinking is there are investors who are significantly over leveraged, or will be very soon, and who (to no fault of their own) are now racing against time to minimize long term exposure and liquidate their investment property(s), even if that means falling below their break even point, providing ample negotiation power. + +Question(s) + +\- If this holds true (over leveraged sellers will need to liquidate assets), what are some of the best ways to identify these investments? + +\- If not, why not? Would love to hear what I am not considering to stress test my theory and triangulate with those who are much, much smarter than I am... + +Morally/ethically, there are considerations here, but Buffets adage of "Be fearful when others are greedy. Be greedy when others are fearful" is what is prompting this thought pattern. + +thanks. +#ON RRP team GET IN HERE + + +LISTEN TO THIS SHIT: + +* **Blackrock** - FedFund: ON RRP is ***37.55%*** of fund -- **$64bn** [(sauce)](https://www.blackrock.com/cash/en-us/products/282628/) + + * **unsubsidized** yield is ***-0.11 percent [HOLY SHIT - NEGATIVE!!]*** + * i.e. *THEY WOULD LOSE MONEY ON BONDS WITHOUT ON RRP* +* **Blackrock** - T-Fund: ON RRP is ***41.30%*** of fund -- **$49bn** [(sauce)](https://www.blackrock.com/cash/en-us/products/282770/) + * **unsubsidized** yield is ***-0.12 percent*** +* **Vanguard** - Federal Money Market Fund - ON RRP is ***37.5%***[(?)](https://investor.vanguard.com/mutual-funds/profile/portfolio/vmfxx) of fund -- **$65.2bn** +* **Vanguard** - Market Liquidity Fund - ON RRP is ***48.06%*** of fund -- **$53.8bn** [(sauce)](https://institutional.vanguard.com/investments/product-details/fund/1142) +* **Fidelity** - Fidelity Cash Central Fund - ON RRP is ***~76%***[(!?)](https://fundresearch.fidelity.com/mutual-funds/view-all/31635A105) of fund **$51.5bn** +* **Fidelity** - Fidelity Government Cash Reserves - ON RRP is ***57.9%*** of fund -- **$66.5bn** [(sauce)](https://fundresearch.fidelity.com/mutual-funds/composition/316067107) +* **Fidelity** - Fidelity Government Money Market - ON RRP is ***58.12%*** of fund -- **$74.5bn** [(sauce)](https://fundresearch.fidelity.com/mutual-funds/composition/31617H102) +* **JP Morgan** - US Goverment Money Market - ON RRP is ***42.4%*** of fund -- **$89.4bn** [(sauce)](https://am.jpmorgan.com/us/en/asset-management/adv/products/jpmorgan-us-government-money-market-fund-morgan-4812c2676) + +Edit: totals are + +#$503.9 bn of ON RRP between these 8 participants + +[**Source article - can't link or else post goes away, remove spaces**](https:// wallstreetonparade.com/2021/10/the-fed-is-subsidizing-the-money-market-funds-operated-by-larry-finks-blackrock-funds-as-blackrock-manages-a-big-part-of-jerome-powells-wealth/) + +A quote within the article [(original sauce)](https://research-doc.credit-suisse.com/docView?language=ENG&format=PDF&sourceid=em&document_id=1083848471&serialid=hNxfY6HW1UslNN%2FdfWqo78%2B4uievAgm%2Ff9k67Q5kUMs%3D&cspId=null) + +> “…the Fed made a policy error: it’s one thing to raise the rate on the RRP facility when an increase was not strictly speaking necessary, and it’s another to raise it ‘unduly’ high – as one money fund manager put it, ‘yesterday we could not even get a basis point a year; to get endless paper at five basis points from the most trusted counterparty is a dream come true.’ ” + +&nbsp; + +**TL;DR: ON RRP is being used to prop up gov't bonds funds at the big institutions - i.e. the other bonds yields' are NEGATIVE without RRP** + +&nbsp; + +*So, what happens if Money Market funds - or GOVERNMENT money market funds - at Fidelity, Vanguard, JP Morgan, and Blackrock...* + +&nbsp; + +*...go negative?* +I don't know where else to post this without bieng ridiculed. It'll sound odd, I get it, but I want your opinions and advice on this. + +&#x200B; + +My parents are in their late 60's, they have a net worth of 30 - 35 million, liabilities are just less than 3 million. My dad owns several businesses and commercial real estate, my mom is a partner at an accounting firm, she will be retiring soon(she's been saying this for 10 years so who knows). They have lots of income sources, some of which I don't know the exact number of, but all together, it's in the low millions per year. You would think they would be living the fatFIRE lifestyle after accumulating so much wealth in their lifetime. Unfortunately, it's not the case. + +&#x200B; + +They live a very *lower middle-class* lifestyle. It's reached beyond regular frugality to the point where I've started to become worried about them. Their house is 20 years old and it's falling apart. They won't pay for any repairs to be done, there are 4 bathrooms, 2 of the toilets don't work, 1 of the showers doesn't work, the deck railings are broken, floor tiles are cracked, bed frame missing wheels, and a lot more issues . I went ahead and hired a cleaning service myself, which my parents canceled after the first visit because "they are rip offs". + +Even things they use everyday like TV and the internet, phone, they get the cheapest plan possible (slowest internet, no phone data, IPTV). My mom spends hours clipping coupons to go shopping, dad only goes to Walmart to buy clothes. It seems like they are sabotaging themselves to live a lower quality life for no good reason. + +I've tried to talk to them rationally about this but they don't see an issue with it. They have no problem spending money for businesses or investments, everything they make pretty much goes to investments or stays in the business. One of many examples, my dad will buy $30,000 worth of TV's for his stores/companies but the TV he watches at home is less that $400 and badly damaged. + +&#x200B; + +I know this is a very first world issue. Is there anything I can do to help them live a better life? +After nearly 40 years I'm retiring today in my early 50s. I have noticed a few things that I thought I'd share. + +First - we've covered the financial stuff on this sub ad-naseum. My family will be fine financially. Similarly medical care, etc. is going to be okay. + +That stuff is just business anyway, and we spend far too much time on business in our lives. + +The first thing I noticed is that I'm accepting increased *invisibility*. Not working will mean fewer people come to me for my expertise and guidance. Fewer accolades and successes in the corporate environment I have embraced for a few decades now. I'm looking forward to this invisibility and anonymity! It will give me room to be more authentically 'me'. + +I have also noticed that by divorcing my brain from daily work I have allowed more room for thoughts of my family and friends' situations. I'm already more aware of what is happening around me just from the change in focus. + +The final thing I'm noticing, somewhat related to the above, is that I no longer have to keep up that professional wall around me. I have always maintained a distance from my co-workers, and I see that tendency bleeding over into my home life. It is difficult when you are required to compartmentalize your thoughts and emotions in order to maintain a professional demeanor. I'm no longer going to have to do this. + +Anyway - Just wanted to share some unique perspectives as a person who finally reached my RE date! +TL;DR: Cannot get a housing loan, have a lot of savings, want to invest but am scared of a bubble. Any thoughts, am I too scared? + +My situation is this: +- 90000 euros in savings, currently all cash because I recently sold a bunch of bitcoin (paid cap taxes on it) +- post-tax income around 3300 euros +- renting for 650 euros per month +- total costs around 1300 euros + +I wanted to buy an apartment to save on rent and protect against inflation, but I cannot get a loan for at least a year and a half because I work in a company opened this year. + +Naturally, I am thinking I should invest because I feel sick when I look at current inflation (official, and worse - anecdotal, due to housing rising by 50% in a few years). S&P almost doubled from the short dip when covid started, and I am a bit scared that if I invest my savings I might be faced with waiting 5-10 years to recover from a crash - all the while having to continue to rent. +After there was a little attention on Thomas Peterffy selling 20,000 shares per day I would like to share what I found when I went down that rabbit hole a few months ago....and "trust me bro" cause here we go. + +&#x200B; + +https://preview.redd.it/o8x8z2x43b691.png?width=318&format=png&auto=webp&s=858fd301be9014897088853ad349b9f60881a569 + +I watched interview after interview of Thomas after hearing this [clip](https://www.reddit.com/r/Superstonk/comments/uckq8t/thomas_peterffy_hates_us_what_a_joke/) and not finding it anywhere else. It wasn't even posted to [CNBCs YouTube](https://www.youtube.com/results?search_query=thomas+peterffy+cnbc) like every other time Thomas is a guest. + +Thank you u/mfdoylejr for recording on your phone. + +\- Even though it's hard to hear, he clearly states that "The GameStop is still at $130 and it's worth nothing" "I think we have to see the GameStop go to ZERO" and "None of my clients are on the long side of GameStop" all within a couple minute clip. + +&#x200B; + +To me, I thought it was peculiar that GameStop has to go to Zero...this was from two months ago but at the time they still had 1 billion cash on hand and no long term debt. At $2 per share, they would be able to buy all 65 million for around 130 million. (I'm not sure how the 1 billion share approval from the share holder meeting effects the share repurchase money allocation but they had around 100 or 65 million dollars left to spend on just repurchasing shares.) + +So how is it going to be at zero? - It's not, but Thomas really needs it to be. That's what led me to do some digging. + +&#x200B; + +Who is Thomas Peterffy? - [Wikipedia](https://en.wikipedia.org/wiki/Thomas_Peterffy) + +" **Thomas Peterffy** (born September 30, 1944)is a Hungarian-born American billionaire businessman. ***He is the founder, chairman, and the largest shareholder of*** ***Interactive Brokers***. Peterffy worked as an architectural draftsman after emigrating to the US, and later became a computer programmer. In 1977, he purchased a seat on the American Stock Exchange and played a role in developing the first electronic trading platform for securities. Forbes magazine's 2021 list of The World's Billionaires estimated his net worth at US$25 billion, ranking him as the 65th richest man in the world. " + +Founder, chairman, and the largest shareholder of Interactive Brokers? Well, that gives me an easy place to start. + +&#x200B; + +[Fintel](https://fintel.io/n/us/ibkr/peterffy-thomas) \- This was the moment that I saw 20,000 shares being sold by him every trading day. I was definitely surprised and confused at the same time. I wanted to know the following questions: + +&#x200B; + +* How large of a [position](https://fintel.io/n/us/ibkr) does he have? + +[2,187,511](https://preview.redd.it/xoneaalsc9691.png?width=1314&format=png&auto=webp&s=7cf7f7f1a5bc8c5cac0fb7e10f6fe1870f858679) + +\- He is the largest shareholder and as an Insider he holds just over two million shares. - Seems off but details on that later + +&#x200B; + +* What are the shares [outstanding](https://fintel.io/n/us/ibkr) on IBKR? + +[Just under 100 million shares...ok...and he has 2 million](https://preview.redd.it/caygrhzxb9691.png?width=980&format=png&auto=webp&s=b4668fb77cda4e3dad7d06d4ca8abca9a7f6cf60) + +&#x200B; + +* So how is he selling 20k shares a day? + +\- This is where we get to the JUICY part.... + +In order to get a little better idea of what is happening I opened his most recent F[orm 4](https://www.sec.gov/Archives/edgar/data/1381197/000156761922012979/0001567619-22-012979-index.htm) that was listed on Fintel + +&#x200B; + +[I wanted to see an overview after not getting much on the doc1.html that showed the most recent Form 4 which shows him selling 40,000 shares on June 14 - 15 2022 @ 20k each day so I went to \(See all company filings\)](https://preview.redd.it/1yhpe5dbe9691.png?width=1234&format=png&auto=webp&s=3dbce14aac7e3deb1b8aee4aa76ff1a86bd369ad) + +Looking at the [filings](https://www.sec.gov/edgar/browse/?CIK=0001391405) you notice that 2020 was the start to a lot of activity from him so + +I went through many before deciding to try and find the one that might provide more information which happens to be File Date 2020- 11- 04 Reporting Date 2020- 10- 30 + +&#x200B; + +[I had done this months ago so I must have refreshed my search history since which is why I chose the right one first for this snip.](https://preview.redd.it/n11yjgtyf9691.png?width=1299&format=png&auto=webp&s=1743bd02e636b5f5c6106ffceb9d93aac9d8b5ec) + +&#x200B; + +[10,000,000](https://preview.redd.it/9gjz5d0fg9691.png?width=1369&format=png&auto=webp&s=15fe2b01f4aa11313690e6129679d50da94fec57) + +Alright...so 10 mil sounds a little more believable to be selling 20k per day. That is enough to sell 20k for 500 trading days. But what is the footnote 1. in green by the 10 million amount? + +&#x200B; + +[1. Represents number of securities acquired by the Reporting Person, in a partial redemption of his interest in IBG Holdings LLC. Such securities were acquired by IBG Holdings LLC from Interactive Brokers Group, Inc. immediately prior to the redemption in exchange for membership interests in IBG LLC.](https://preview.redd.it/cxzt2fm0h9691.png?width=1254&format=png&auto=webp&s=ca946f03544f05fa5820f25b8c917474bcd1585b) + +Wait wut? + +Number of stock purchased by the reporting person? Partial redemption of HIS INTEREST in IBG Holdings LLC. + +&#x200B; + +&#x200B; + +What are his [interests](https://fintel.io/doc/sec/1399812/000114036120025029/brhc10016745_sc13da.htm) in IBG Holdings LLC.? + +[He used the TP Plan to sell 20k shares per day for 500 trading days. {Speculation: He uses the 20k shares per day to cover the rate on a total return swap}](https://preview.redd.it/xk519gssta691.png?width=851&format=png&auto=webp&s=d560a54521d82fd7129bfa9dd711669843a31d1b) + +When the 10 million shares are all sold or July 31,2022 the 10b5-1 ENDS. {Speculation: If he is using the 20k share sales per day to cover the rate on a swap...that total return swap probably ends the same day....No DATES but July 31^(th),2022 - October 22^(st) 2022 will be the end of the swap that he needs GameStop to go to zero for.} + +&#x200B; + +&#x200B; + +Let's continue.... + +Who the fuck is [IBG Holdings LLC.](https://fintel.io/ipro/ibg-holdings-llc)? + +[When I looked it up this was a 20 billion dollar portfolio - you will have to take my word on it as I wasn't able to snip because of a setting I disabled to reduce my latency....yes I am a hard core gamer that watches too many how to videos...but it's reported value is just under 18 billion dollars.](https://preview.redd.it/jw25trehi9691.png?width=1011&format=png&auto=webp&s=dc70aa1149be20f452faa41315559244f31277ce) + +&#x200B; + +Notice anything unique about the Current and Activist Positions? There is ONE. + +One current position that is worth just under 20 billion dollars? Strange. + +18 billion dollars + +&#x200B; + +Who owns [IBG Holdings LLC](https://fintel.io/i13d/ibg-holdings-llc) + +&#x200B; + +[IGB Holdings LLC is the owner of IBKR - I will explain more further down.](https://preview.redd.it/xjloqpwnza691.png?width=482&format=png&auto=webp&s=2be7d406b3d2af1724129ad9526268e883fe4fd0) + +&#x200B; + +&#x200B; + +Thomas owns 2 mil shares of IBKR - Through Form 10b5-1 he is able to enter a forward redemption contract to where he can sell shares that are granted to him in the future as an insider for stock rewards and option rewards. The 10 million shares that he granted himself do not get reported like normal....one of the benefits to insiders to use a Rule 10b5-1 form that way the shares are forward lent to be owned by IBG Holdings in IBG LLC yet you get paid. + +&#x200B; + +The [Sauce](https://fintel.io/doc/sec-ibkr-interactive-brokers-group-sc-13da-2017-august-01-17961) to the next few sections + +[3 Insiders Grant themselves 11,710,608 shares of Class A IBKR They trade these shares to IBG LLC](https://preview.redd.it/h3zp7j8rka691.png?width=709&format=png&auto=webp&s=7662ecb4acb6336fc31971d0b63b2d1357f39d71) + +IBG Holdings gets 11,710,608 shares of Class A Common Stock (IBKR) for 11,710,608 membership interests in IBG LLC + +IBG LLC Gives 11,710,608 membership interests to the three "members" - Thomas Peterffy, Thomas A.J. Frank, and Paul J. Brody + +&#x200B; + +&#x200B; + +IBG Holdings LLC. owns 325,960,034 membership interests of IBG LLC. + +[BALANCE FOR FREEDOM SIDE QUEST IN THE COMMENTS \(Because when the laws don't apply....why not\)](https://preview.redd.it/r9p9qamhoa691.png?width=847&format=png&auto=webp&s=c93a2e77b47fc1d6e0d35d513c7268a6eb8c7d5c) + +The Point made in (3) - Of course 100 Class B shares are owned by Thomas alone and that counts for 78.2% of the voting power in IBKR. + +Here is the [filing](https://www.sec.gov/Archives/edgar/data/0001391405/000110465907036035/xslF345X02/a3a.xml) from 2007 that gave 100 of the 100 Class B shares to IBG Holdings LLC....which is owned by Thomas + +" Although the reporting person is not the beneficial owner, as defined in Rule 16a-1(a)(2) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), of any securities of the issuer registered under Section 12 of the Exchange Act, the reporting person, through his ownership of the voting membership interests in IBG Holdings LLC will beneficially own all of the outstanding shares of the issuer's Class B common stock. IBG Holdings LLC, as the sole holder of the 100 outstanding shares of the issuer's Class B common stock, is entitled to the number of votes equal to the number of IBG LLC membership interests held by it at any given time. As of the date of this report, the issuer's Class B common stock has 90.0% of the voting power of the issuer, which percentage is expected to decrease proportionately over time to the extent that IBG Holdings LLC owns a smaller percentage of IBG LLC. " + +&#x200B; + +&#x200B; + +Let's Recap a little here + +If you need to scroll back up and see that IBG Holdings LLC has a portfolio value of 18 billion go ahead and do so now... but I also would like to remind everyone that they only hold 1 position and we now know that to be 325,960,034 IBG LLC membership interests. + +&#x200B; + +&#x200B; + +So what do you think a IBG LLC membership interest is? + +&#x200B; + +{This is speculation: 17950619072$ ÷ 325960034 "membership interests/shares" = 55$ + +$55.89 was the closing price. Imagine if he is using his 2 million shares as collateral, paying the rate with the forward lent shares, and completely fuk when the swap matures. } + +&#x200B; + +&#x200B; + +I am 100% DRSed since post share-holder meeting and will not be buying through a broker. We have gone through to much and exposed to much to ever let this have an opportunity to occur again or to even risk having anything at a broker. It's not hold till phone numbers or life changing money anymore, I don't even know that I will put them all in my will...I have fought and studied and gone through lifetimes of being a stock-trader in these past 18 months with only 1 share back in January 21 (I get goosebumps just thinking about how little I knew then yet I knew something was not sitting right when they were allowed to turn off the buy button) + +&#x200B; + +THEY GET ONE SHARE. + +&#x200B; + +&#x200B; + +&#x200B; + +TLDR: New Hype Date: Tomorrow - July 31^(rd) 2022 - October 22^(st) 2022 + fuckery + +&#x200B; + +&#x200B; + +Please let me know how to make this more digestible as I know my flow is not always easy to follow. + +Thank you for your time, this was not financial advice, my day job is in corporate quality assurance...not finance related in any manner. + +&#x200B; + +&#x200B; + +EDIT 1: Add Timber Hill LLC to the side quest - They use the same phone number as Balance for Freedom and IBKR...they also are 99% owned by IBG LLC, and are in the same building I did a lot of research on before but I will be digging into this on a different day. -Address is for me to pick back up faster. I already know it is an office building and yes I already know there are quite a few business' there...if you dig you will see why I don't want to forget to look back into this. + +TWO PICKWICK PLAZA +GREENWICH CT 06830 + +THREE PICKWICK PLAZA +GREENWICH CT 06830 + +Edit: I am aware success is different for everyone. This question was asked with the idea of everyone answering with their def of success. + +&#x200B; + +Sorry if this is so personal but I am really curious, looking for motivation, and want to ask some questions based on answers here. + +&#x200B; + +How many properties do you own? What kind of money have you made? Any advice? +My 22 year old son was the sole beneficiary of my work insurance policy, my 401k and my IRA. He was the killed in a car accident last week. I would like to make his daughter the new beneficiary but not have a situation where the mother has control of the money. Can someone explain how to do that? Is naming my granddaughter as the beneficiary enough or do I need to setup a trust first and name the trust the beneficiary? + +EDIT: I tried to reply to as many responses as I could but it got a little overwhelming. Thank you all for the advice, which seems to be consistent about what course of action to take and especially for the kind words and well wishes. +I (26m) live with my parents, am currently a little over $100k in student debt, and have about $20k in savings. My credit score is 750. I have a job that pays about $30k per year. Housing by me is not cheap, probably around $700 to $900 a month for a studio apartment, but I can’t live with my parents much longer. What are my options if I have to move out in the next 6 months? Do I have any options to make money on the side through investing or other means? Is that even smart to do with the debt I have? I feel lost and even a little advice can go a long way. + +Edit: Thank you everyone for the advice, I have some great ideas for what I need to do. +For context, I’m disabled and unable to work. I get roughly $650 a month in disability. I spend a lot of time worrying about it. I feel that every penny I have needs to be saved. It’s gotten out of hand for me. Even my extremely financially conservative family is saying I’m too extreme, but I just can’t stop. I constantly feel like I’m not saving enough. I don’t really know what to do. I guess this is a half vent but I’d be curious to hear others situations. Also, I’m 23 so keep that in context. Thank you +Hi! I'm (F,19) and I have a little more than $30,000 currently saved. $2,100 in a checking acc, 6K in savings acc, another 5k in a checking acc. I have 9k in a 401k through a previous employer. I have 8k in a roth IRA. + +I have so much money just sitting around. I really don't know the smart thing to do w/ it!! Any advice? + +ps. I've been working since I was 17 which is how I've managed to save so much. I also have 3 credit cards (my own, not AU- discover student, chase freedom, and the apple card). i'm a college student, gonna graduate under grad in 3 yrs and going to vet school. don't have any costs for college bc i'm on a full scholarship, just the price of the apartment i would have stayed in (rip, i decided to stay at home since i got a job at a vet clinic which is valuable for experience and high pay) +Hi! I'm (F,19) and I have a little more than $30,000 currently saved. $2,100 in a checking acc, 6K in savings acc, another 5k in a checking acc. I have 9k in a 401k through a previous employer. I have 8k in a roth IRA. + +I have so much money just sitting around. I really don't know the smart thing to do w/ it!! Any advice? + +ps. I've been working since I was 17 which is how I've managed to save so much. I also have 3 credit cards (my own, not AU- discover student, chase freedom, and the apple card). i'm a college student, gonna graduate under grad in 3 yrs and going to vet school. don't have any costs for college bc i'm on a full scholarship, just the price of the apartment i would have stayed in (rip, i decided to stay at home since i got a job at a vet clinic which is valuable for experience and high pay) +Things have been so much tighter while my partner is gone for the summer. And while he can help out a little, he still can't completely pay his half of the bills. Which is what we agreed to initially. Him not paying because his course in the summer beats the students down. + +However money has been so tight. I thought I budgeted out well, but I'm living paycheck to paycheck (not really new) with NO wiggle room (new). + +I spent my last like $20 last night grabbing myself chicken and grabbing my lizard what he needs. Fruits, veggies. And went a little more out of pocket to grab him his crickets and protein too. + +And then I woke up this morning and realized I forgot to put away the chicken. I have no money, very little food and this is just getting harder. +https://www.nytimes.com/interactive/2020/05/26/magazine/stock-market-coronavirus-pandemic.html + +“So, if companies are increasingly meeting their financing needs elsewhere, it seems fair to ask what exactly the point of the stock market is these days. The growth of high-frequency trading, in which players dart in and out of the market seeking to profit from the tiniest price discrepancies, certainly lends credence to the idea that the market is now little more than a glorified casino. Some observers, though, contend that it actually serves a more nefarious purpose — that the market, instead of directing capital to its most productive uses, has essentially become a mechanism for draining capital out of the economy in order to funnel ever more of the nation’s wealth upward. This is being done, goes the argument, primarily through stock buybacks — companies repurchasing their own shares.” +[https://www.sec.gov/Archives/edgar/data/886158/000092189522002496/sc13da313351002\_08182022.htm](https://www.sec.gov/Archives/edgar/data/886158/000092189522002496/sc13da313351002_08182022.htm) + +&#x200B; + +Confirmed. As expected. Apes wrong forever. Enjoy your bags apes. +How much can you face mentally, emotionally and financially when the stock market finally crashes? + +I have survived, just barely, two major stock market crashes. 2000-2003 and 2007-2009. As my investments fell almost every day, I had panic attacks and did not sleep well. I was down hundreds of thousands of dollars. I lost more money some weeks than a year of contributions to my 401k plan when I was younger. I felt sick to my stomach. + +The 2007-2009 bear market and general financial crisis was even tougher because the media was reporting a possible 1930s type depression where the stock market could of dropped 80% or more. By early 2009, the market had already dropped 55% and there was no talk about get finally bottoming out. (We did not know at the time that in March 2009 it would start going back up and increase 400% percent.) Many of my friends thought it would go to near 0 and bailed out at the bottom and put the money they had left over in cash. + +So...Are you prepared mentally and financially for the next bear market? + +&#x200B; +Throwaway account for obvious reasons. We’re fatFIRE in a solidly middle income neighborhood and everyone knows now given that wife doesn’t work and I’m mostly retired. My oldest kid (14 year old) has been stealing cash from his moms purse (large amounts) and when caught has the most ridiculous excuses eg says he used them to treat his friends to ‘pizza’. Other incidents as well but basically I’m concerned re someone pushing drugs/blackmailing etc. We have the usual parental controls on his iphone (bark) but it looks like most of this activity happens on Snapchat and other such apps. My wife has tried talking to him, we have a good relationship, no information. He sticks to his incredible stories (eg pizza for $2300) What are good fat ways you have found to keep your kids safe from this kind of stuff. Do we just have a hacker on retainer to surveillance his phone? The obvious one would be to move but we have connections to this area and that is not easily done +This is the official $GME Megathread for r/Superstonk. 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Check the main page for the sticky post and vote now! + +**Want to learn more?** [**Check out our extensive Wiki**](https://www.reddit.com/r/Superstonk/wiki/index) **and** [**FAQ**](https://www.reddit.com/r/Superstonk/wiki/index/faq) + +Please review the [**Superstonk Rules**](https://www.reddit.com/r/Superstonk/wiki/index/rules) before commenting or posting on r/Superstonk. + +*Daily discussion threads are created at 4:00 a.m. EDT* +A few details about me + +30, HHI 325k, NW 1.5MM broken up into 600k real estate (with rental home), 550k retirement, 200k brokerage, 100k cash (yea yea). + +We have a monthly budget and though our NW is “high” (relatively), we’re nowhere near fiRE - as you can see we’re pretty illiquid. + +We feel the effects of gas prices raising from $200 month budget to $400/month. Groceries, etc. We are starting to uncomfortably spend a lot more during this time (weddings, kids, home costs, etc). My husband may quit work for a bit which would cut our income by 33% (still around 200+k/annum). + +I always thought when I got to this “Net Worth” I’d be so comfortable. I mean our net worth is averaging 25-40k/month increase (we’re big savers). + +I understand comfortable means different things to different people but was there a NW you hit that you finally let most of it go? That you quit budgeting or hit that dream security feeling? Or was it some other factor + +PS: I do feel I have more of a normal fire mindset but not sure with numbers above how well it would’ve been received in those subs +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! +Well, I can't only post when times are good. Just wanted to write a quick update because people have been asking for FI people to post their statuses during all this and perhaps this will be therapeutic. It definitely sucks to lose that much (in a month!). And it will continue to suck as/if the market goes down. Here's what I've done to slow the bleeding: + +* Moved to a low cost of living country. + +* Lowered my ~~monthly~~ yearly burn rate to 1.2% of my CURRENT (after crash) portfolio. This is necessities and a little teeny tiny tiny bit of recreation/restaurant. Will get better at cooking and most things I like to do cost little money. +* Will continue to live here and keep this withdrawal rate until that withdrawal rate reaches 1% (or in other words until the markets recover 20% (beyond my withdrawals). Then, I'll raise my withdrawals to 2% which will effectively double my current conservative budget. +* Could be months, could be years. I'm young, single and flexible as fuck, so I'd be silly to not take advantage of those things to protect my future self's retirement. +* My pre-FI career is a bit distant after taking a couple years off, but I'm going to seek out some projects if I can get them as people get back to work so that I'm further reducing withdrawals, ideally to zero and, if I'm lucky enough, buy more equities as the markets are depressed. + +&#x200B; + +***"To be free, you must be flexible."*** +\-Nobody 2020 (but thought it sounded good) + +EDIT: Meant 1.2% per year (divided and spent monthly) lollll +As you probably already know, we have hardly any opportunities to vote in Europe. Now there was in the proxy documents of Game Stop on page 10 point 7 the hint regarding Broker Non-Vote. **We urgently need a feedback from Mr. Carl Hagberg**. My Apebro /u/Pristine_Physics_857 has already asked the question to Mr. Carl Hagberg, but we need more upvotes here. + +Link: [**https://www.reddit.com/r/Superstonk/comments/n8qq8v/official\_ama\_carl\_hagberg\_retail\_shareholder/gxl3ogg/?utm\_source=share&utm\_medium=ios\_app&utm\_name=iossmf&context=3**](https://www.reddit.com/r/Superstonk/comments/n8qq8v/official_ama_carl_hagberg_retail_shareholder/gxl3ogg/?utm_source=share&utm_medium=ios_app&utm_name=iossmf&context=3) + +&#x200B; + +Euroapes would be happy if you upvote the question diligently. I am sure you are also very interested in the fact that our shares can finally be counted and that we also have a decisive weighting. Even if we cannot vote directly, the recording of the number of shares is the decisive factor for all of us. + +&#x200B; + +Thank you very much. Apes together strong. +Curious about this community's opinion on the best place to put money being saved towards a house. Does it make sense to put the money into a fund like VTSAX in a taxable account? For some context, I don't really have a particular timeline so it's not like I absolutely need the money within a year or anything. But let's say it takes me 5 years to decide I want to buy a house -- wouldn't it make more sense to at least try to get some returns on the money and use those towards a down payment rather than just let it sit in cash for that long? This would of course be after I’ve maxed out my tax advantaged retirement accounts. + +Thanks in advance for any input! +In the recent first quarter of 2022, Amazon stock reported mixed results. The company fell short on its earnings but did match expectations for revenue. This was the first time in at least four years that the company reported a net loss. Furthermore, Amazon also expects slower outlook growth of between 3% and 7%. This has definitely raised concerns for some investors and thus Amazon stock have took quite a beating and have decreased over 28%. + +The company saw 30-40% expansion in revenue growth in 2021. Like many tech giants, the company is attributing the decline to macroeconomic factors as well as Russia’s invasion of Ukraine. After the announcement, the shares have plunged by about ~20+%. Have the fundamentals of the business changed? So let’s take a closer look at its main business and financial outcomes in order to better assess Amazon’s overall performance. + +Let’s take a look at what Amazon has to offer. Let’s find out! +[https://learntoinvests.com/amazon-stock/](https://learntoinvests.com/amazon-stock/) +TLDR: What is Microns competitive advantage? + +Whole post: + +Everyone seems to be talking about how Micron is a great buy. Everyone knows it has a low P/E and the industry became an oligopoly lately. + + +But why aren't we seeing discussions regarding the quality of their actual products? There is a chance that SK Hynix or Samsung come out with some innovative technology that is going to put the breaks on Microns growth (at least for a while). The competition might come out with either faster or cheaper DRAM / NAND. + + +Take AMD and Intel as prime example. Intel dominated the market until a few wrong decisions threw it under the bus and its still trying to recuperate today. + + +Why all the talk about Micron but no one brings up SK Hynix or Samsung as valid investment opportunities? Am I missing something here? Does Micron provide some product that is better? + + +It seems to me like most investors treat these 3 companies as if they are the same and no company is going to step on the toes of the competition. In my point of view I'd say that is naive. + +And lets ignore the fact that the CHIPS act passed and it is positively affecting Micron. I want to talk solely about the business aspect of these companies. +I just started investing a couple days ago. For my first stock, I bought about $200,000 Beyond Meat shares at $140 each and just sold them for around $157 each two days later and made a decent sum of money for my first trade. + +How often do shares like this come around where they fluctuate alot? +Previous post: [https://www.reddit.com/r/fatFIRE/comments/nttn58/follow\_up\_to\_faang\_vs\_startup\_post\_job\_offer/](https://www.reddit.com/r/fatFIRE/comments/nttn58/follow_up_to_faang_vs_startup_post_job_offer/) + +I wanted to close the loop on this series of posts, for anyone who was curious. I ended up taking a Dir Eng offer at an about-to-go-IPO startup (not the one I posted about in the post above). Their equity offer was good enough that my total comp there was more than at my FAANG role, so it was a relatively easy decision financially. I'm very happy with the move so far despite some turbulence in the stock since the company went public - the company is much more fast paced, the work is meaningful and there is relatively little politics (from what I've seen so far). + +I'd encourage people unhappily stuck in FAANG roles to look outside - there are many opportunities, though you might have to get to and reject a few offers before you find one that's financially reasonable. Good luck. +As an ape since January before our first run up I've seen dates been given here and there and of course they garner a lot of hype. Want to know what usually happens? The price dips. They use this as psychological warfare because they know we expect so much and if it dips it can take the wind out of some people. So expect a dip and don't be disheartened. That's what they want!! + +Edit: these comments make me happy. We seem prepared 😁 +Buying a duplex. Numbers work - everything meets my criteria. This is *not* my first place, but I’m also not a seasoned investor with a major major portfolio. I’ve only got a few properties. + +That said, I’m concerned some +Of the more liberal states (as this one is in), may bring back eviction moratoriums in the future if any of the variants become very dangerous again. + +To what extent should I be worried about this? And/or potential non payments in future? + +I’ll keep current tenants - one has been working from home, but the other is not and I think is more of a trades type person or in construction. +Example: Chinese phone apps had to stop in-app-purchases for ~1 month before they re-enabled them them en mass. China quietly followed this up with legalization. + +It'll be real interesting to see how this plays out. Collusion & market manipulation may well be involved. +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! + +Right now, I am able to set aside 450€ monthly - Living in my home country. + +But recently it became some-what of trend for young people from my country to move to Germany/Ireland and work low-skilled jobs, usually for minimum wage or maybe a bit higher than mw. + +I'm doubtful I'd be saving much more than 500€ per month, and I'm hesitant to accept such proposals from my friends asking me to come there. + +Taking in to a consideration housing/food/necessities would I be able to save more than 500€ monthly living some-what frugally in Ireland or Germany? Thanks. + +(I'm not college educated and have no special skills or knowledge) + +My goal is to apply for a college in the next 2-3 years. That's why my main priority is to save as much money as possible to support myself through my studies. +https://finance.yahoo.com/news/netflix-cancellations-surge-following-cuties-controversy-data-shows-114312558.html + +According to subscription analytics firm Antenna, Netflix cancellations surged 5x the normal amount following the release of “Cuties.” + +Meanwhile, Data analytics firm YipitData reported a similar trend, with the company telling Yahoo Finance that Netflix’s U.S. churn “rose materially” last weekend in the wake of the controversy. As of last Saturday, disconnects were running at nearly 8x the daily levels observed in August — a multi-year high, YipitData added. + +Still, despite the downbeat data, the cancellations should not have much of a lasting impact on Netflix’s overall subscriber base. The platform has well over 182 million users worldwide and is the clear leader in the competitive streaming space — regardless of its recent controversies. + +Thanks for the awards. +This has lots of images and this sub doesn't allow me to post them. So please go the the link (highly recommended): [https://pradyuprasad.wordpress.com/2019/11/26/\_\_trashed/](https://pradyuprasad.wordpress.com/2019/11/26/__trashed/) + +Text only (click on link above if you want a nicer experience): + +>[*India is the only country trying to become a global economic power with an uneducated and unhealthy labour force*](https://blogs.lse.ac.uk/southasia/2015/11/19/india-is-the-only-country-in-the-world-trying-to-become-a-global-economic-power-with-an-uneducated-and-unhealthy-labour-force-amartya-sen/) +> +>\- ***Amartya Sen*** + +In the [previous part](https://pradyuprasad.wordpress.com/2019/11/25/the-bear-case-on-india-part-1/) I had shown that the demographic dividend is actually a demographic dud. We will have no “dividend” if half the country does not participate in the workforce. But what happens to those enter the workforce? Are they skilled enough? And will they get jobs? I’ll answer these questions in this post. I am going to argue that the Indian workforce has a large skill problem with university degrees being close to worthless, and a rapidly growing share of the educated unemployed. + +Such is the state of education in India today. We have two distinct phenomena: a group of you Indians, who will grow up know know how to do basic arithmetic, along with an educated group who cannot find jobs. + +See image here: [https://imgur.com/a/Db6cUQu](https://imgur.com/a/Db6cUQu) + +This graph shows unemployment rates by education level in India. The striking part of this graph is that graduates has an unemployment rate of around 15% right now, while those with no education have unemployment rates of close to zero. This shows the main challenge in India: we have low quality graduates and this will make the demographic dividend ([which isn’t all that great as shown in the previous post](https://pradyuprasad.wordpress.com/2019/11/25/the-bear-case-on-india-part-1/)), less effective and unlikely to drive economic growth at all. In fact we will be seeing the exact opposite of the conventional prediction that India’s demographic dividend is its greatest benefit. + +The exact opposite is happening. Millions of “educated” Indians (though fewer than expected by the UN) will enter the workforce with degrees of poor quality, face unemployment or at best underemployment. + +**How we got here- The abysmal state of primary education** + +See image: [https://imgur.com/cQp9EMf](https://imgur.com/cQp9EMf) + +ASER reports that only 43% of 14 year olds in India could divide in 2018. This was 44% in 2017, similar in 2016 and has been declining since the peak of 75% in 2006. What is happening is India is facing the results of decades of underinvestment in education. The World Bank estimates that the average Indian gets only 5 years of education adjusted for learning. In comparison the average Chinese gets 9.7, Brazilian gets 7.6, Russian gets 11.9, American gets 11.1, British gets 11.5 and South Africa is lower at 5.1. Clearly if we want to be in likes of China, the US or the UK, we have to get the primary education system in order. India has the highest ambition to education ratio in that list. + +For a country that is supposed to be the next economic superpower, India is doing an extremely poor job at educating its young minds. This isn’t a one off that happens at one level. The rot in the education system is reducing GDP growth in the long run. + +**Secondary education has its problems too** + +Just like their younger siblings in the primary education system, secondary students have poor learning outcomes. In the latest National Achievement Survey the NCERT found that in only 6 educational boards (out of 36) more than 20% of students could pass a basic mathematics test. Those 6 were the CBSE a central government curriculum, the ICSE a curriculum made by the Council for Secondary Education in India, Andhra Pradesh, Assam, Odisha, and Rajasthan. Let that sink in for a moment. In only 6 education boards out of 36, more than 20% of students could pass a mathematics test for their age level (class 10/15 years old). How can India become an economic superpower when its human capital formation is so poor? **How can a country where the majority of students cannot do basic math become a developed country?** + +See image: [https://imgur.com/5qzKaAr](https://imgur.com/5qzKaAr) + +**The rot spreads to the tertiary level** + +The thesis of most India Growth Story enthusiasts is that there are many smart people who will get jobs, and contribute to society. It is evident that few of the people who will enter the job market are skilled given that \~56% of 14 years olds in India could not divide in 2018, and the majority of 15 year olds (87%) could not pass a math test for their grade level. India do not have a skilled workforce. To make things far far worse, tertiary institutions are doing a poor job of moving the workforce from unskilled to skilled. The blame does not fall on them though. Given the input quality they can be cut some slack. + +But even with what they have, they are doing very poorly. A [survey](https://www.aspiringminds.com/thankyou/?url=2602) by the consulting firm AspiringMinds revealed that only 3.84% of engineers can write compilable code, only 36% of them do an internship and only 7% of them do more than one internship. Even for jobs that require low skills compared to the others like a BPO associate 60% of students are unqualified. For a country that has a mission of Digital India, these are pathetic statistics. Colleges emphasize theoretical skills over practical ones, are not incentivized on quantifiable learning outcomes like jobs and incomes and therefore are close to useless in skilling the country + +**Conclusion** + +The India Growth Story is falling apart job by job, step by step. While economists predict a rebound in FY20, don’t let that fool you that long term GDP growth in the country is severely constrained by these factors. + +All the data that is not linked in the post is here: [https://docs.google.com/spreadsheets/d/1AZbEyeeKN39C7INkiD9WEbBhpGshCReTCzfiMx0GTyY/edit?usp=sharing](https://docs.google.com/spreadsheets/d/1AZbEyeeKN39C7INkiD9WEbBhpGshCReTCzfiMx0GTyY/edit?usp=sharing) +Newbie here, would like to invest in Index Funds &amp; ETFs on Zerodha. Any guidance on where to look for these index funds and their performance over the last 1y, 5y, 10y and so on..?? Thanks in Advance !! +*Disclaimer: All information in this post is my personal opinion and not in any case an official statement from Computershare. This is not financial advice.* + +**TLDR: The shitheads at IBKR are making it more complicated but CS got our back.** + +I called Computershare this morning regarding the new changes from IBKR. It is not possible to DRS shares to existing holder accounts anymore. You will have to create a new account at Computershare for every transfer you make. + +The lovely lady at Computershare explained to me how this may be a complication but how they can solve it easily. This is what I understood: + +1. DRS shares to a new account - Make sure that the name and address is identical to your account at CS + +2. Call CS and ask to send you the confirmation letter from the closest office (for Europoors it is the UK) + +3. Once you get the new confirmation letter, send back the W8BEN form + +4. Call CS and ask them to unite the two accounts you have + +&#x200B; + +Voila - all shares DRSd in one account + +&#x200B; + +**CAUTION:** If the name is different you have to do a legal process called "Share Transfer" which is very bureaucratic, to say the least. Small differences in the address can be solved by the CS-Team. + +&#x200B; + +**Additional information I got:** + +1. It is not unusual that people have several accounts. Mostly this happens when different parties are involved e.g. give a share. + +2. Computershare was also surprised about this move and this is the first time something like thishas happened. + +3. My support agent will check if it is possible that CS makes an official statement/instructions on how to merge the accounts (hopefully smooth brain proofed). + +4. My support agent could not understand why they would do something like that... +We have multigenerational wealth (~20 million), which we are looking to preserve and grow. Instead of thinking about retirement, we are thinking about the next generation's finances. + +What tricks or trips are there for people in this situation? + +Are family offices worth it? + +We have a lawyer to help with trust generation and compliance, but we are in full control of the trusts. + +We have an accountant to help with taxes. + +We max all available 529s, IRA, etc. + +We're sweeping excess money into a taxable U.S. total market index fund (FSKAX). Our assets are mostly in the family business, with the remainder in equities. + +We received the inheritance through a marital/survivor/bypass trust, described at https://www.bosinvest.com/wp-content/uploads/2013/10/EstatePlanning-UnderstandingtheUseofTrusts2006.pdf. The primary purpose here is to reduce estate taxes. We will likely set up something similar when we are done having children. + +I've learned that cost basis resets on death, so we will avoid unnecessary selling of investments. + +I feel like there must be more, that I'm missing. +According to the Transamerica Center for Retirement Studies’ report, the median retirement savings in the United States by age is: +Americans in their twenties: $16,000 +Americans in their thirties: $45,000 +Americans in their forties: $63,000 +Americans in their fifties: $73,000 +Americans in their sixties: $117,000 +Americans in their seventies: $172,000 +I'm currently at 67% VTI and 33% VXUS in my brokerage account and thinking about reallocating 10% of that to a higher risk/higher reward ETF. I'm curious if there are any favorites here, but I'd also like to look into something other than QQQM, QQQJ, ARKK, or MOON since I'm not sold on their performance going forward. I've also been researching small cap value funds and am considering that, but I'm at least not sold on AVUV specifically given how much of it seems to be allocated to oil and gas and related sectors. Given that, I'd be interested to see what else I should consider! +Clueless new investor here who invested majority of my portfolio into QQQ near ATH in early February. Now QQQ is finally slowly creeping back up to break even. My question is should I liquidate the majority of my QQQ and switch to VTI? Or just add future positions to VTI and keep QQQ? + +Looking back at historical charts, it looks like QQQ outperforms VTI in 10 year, 5 year, 1 year comparison whereas VTI outperforms QQQ in 6 months & YTD comparison. Assuming I have 20+ years before retirement and can weather the QQQ volatility, is it wrong to hold QQQ as the majority portion and switch to VTI majority when I get closer to retirement? + +Thanks in advance. +**EDIT: This is compensation for an In-House, single-person manager. No leasing agents, no management company. The manager does not pay for maintenance or the staff, only supervises them and assigns works orders.** + +I’m thinking 4.5% of the monthly rent roll on the 1st of the month (vacancies would reduce this) is beneficial for both parties for the following duties: + +1) Handling all leasing, lease renewals, and maintaining occupancy. +2) Building and maintaining the company database for Leases, Documents, Deeds, Sect 8 Paperwork, Rents Received, Online Tenant Portal, Leasing Portal, Rent Rolls/Reports +3) Handling all tenant relations and resolving all tenant disputes and concerns. +4) Hiring and supervising a maintenance team, scheduling work orders and capital improvements. (Maintenance personnel salaries & materials would be paid separately) + +The owner would only do the expense accounting and would otherwise have no involvement in the property. + +Is 4.5% a fair compensation with no benefits and 24/7 availability? Too high? Too little? + +This is for a scope of 350 units spanning 10 properties in Class A, B, C, and D neighborhoods all within 15 minutes drive. +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/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/EKU2tVBp9u). +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/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) +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/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). +HDFC top 100 and ABSL Frontline Equity Fund are two of the most popular large cap funds. However, their performance in recent years is not good when compared with benchmark index and with top performing funds in same category. + +I am a long term investor and understand that we need to be invested for 7+ years before judging an equity fund. At the same time, I like to periodically review funds to make sure I don't remain invested in duds. + +Seeking opinion of other members on the performance of these two funds. As shown in following table, the HDFC and ABSL funds have vastly underperformed in recent years in spite of markets attaining new high each year. This surely indicates lack of good decision making by fund managers with respect to the portfolio. How does an investor make out if this is just a temporary phase or permanent? + +Thanks in advance. + +&#x200B; + +|Fund Name|AUM|1 year cagr|3 year cagr|5 year cagr| +|:-|:-|:-|:-|:-| +|HDFC top 100|17.5K cr|6.6|5.6|11.3| +|ABSL Frontline Equity|18.7K cr|13|7|11.8| +|S&P BSE 100|\-|16|10|13| +|**Top Performers below**||||| +|Axis Bluechip|20.4K cr|19|16|16| +|Mirae Asset Large Cap|20.7K cr|14|10|15| +HDFC top 100 and ABSL Frontline Equity Fund are two of the most popular large cap funds. However, their performance in recent years is not good when compared with benchmark index and with top performing funds in same category. + +I am a long term investor and understand that we need to be invested for 7+ years before judging an equity fund. At the same time, I like to periodically review funds to make sure I don't remain invested in duds. + +Seeking opinion of other members on the performance of these two funds. As shown in following table, the HDFC and ABSL funds have vastly underperformed in recent years in spite of markets attaining new high each year. This surely indicates lack of good decision making by fund managers with respect to the portfolio. How does an investor make out if this is just a temporary phase or permanent? + +Thanks in advance. + +&#x200B; + +|Fund Name|AUM|1 year cagr|3 year cagr|5 year cagr| +|:-|:-|:-|:-|:-| +|HDFC top 100|17.5K cr|6.6|5.6|11.3| +|ABSL Frontline Equity|18.7K cr|13|7|11.8| +|S&P BSE 100|\-|16|10|13| +|**Top Performers below**||||| +|Axis Bluechip|20.4K cr|19|16|16| +|Mirae Asset Large Cap|20.7K cr|14|10|15| +The current inflation rate is 3.8% ([https://www.abs.gov.au/statistics/economy/price-indexes-and-inflation/consumer-price-index-australia/latest-release](https://www.abs.gov.au/statistics/economy/price-indexes-and-inflation/consumer-price-index-australia/latest-release)). + +Now I'm no economist but I'm sure there's a lot of concrete data and transparent reasoning to work that out. But just from a regular person's perspective, how reflective of your experience is that? + +I understand house prices aren't included in inflation but then then, I would've thought inflation is more like 10-20%+ in the last year. + +just by looking at my own experience - everything has gone up - from costs of rent, costs of grocery bill, costs of petrol, costs of eating out, costs of buying a car or computer - it would be hard to say my daily living costs has only gone up < 4%. + +Is this your experience? +https://www.abc.net.au/news/2021-04-05/labour-shortages-hint-at-a-faster-economic-recovery/100047576 + +You can't say how quickly it will take for Australia's economy to recover. + +But with job vacancies rising, it means there's growing demand for labour and positions aren't being filled, which is a positive sign. + +And job vacancies are surging at the moment. +In February, there were 289,000 vacancies, up 13 per cent in the last three months. + +The vast bulk of them were in the private sector (260,300) compared to the public sector (28,400). +Ben Udy, an economist from Capital Economics, says his "composite" measure of vacancies, where he combines the number of job vacancies and skilled vacancies with ANZ's job ads survey, is sitting at its highest level since the mining boom in 2011. + +"Taken at face value, that implies the unemployment rate could dip below 5 per cent by the middle of the year," he wrote in a note to clients last week. + +If the unemployment rate fell below 5 per cent in the next few months it would be a remarkable outcome. +But how likely will that be? + +Uncertainty about the economy + +The federal government's decision to return the JobSeeker unemployment payment to well below the poverty line for hundreds of thousands of Australians, pushing them back into poverty, and to end the JobKeeper wage subsidy last month, will have economic and social consequences. + +Economists know what it means for poverty in Australia, but they're unsure how it will affect the official unemployment rate. + +Last month, Steven Kennedy, the secretary to the Federal Treasury, said it could see the unemployment rate rise a little in coming months. + +He warned an extra 100,000 to 150,000 people could lose employment, and it could take time for those workers to find jobs and for the unemployment rate to start falling again. + +But other economists think there's enough momentum in the economy for the unemployment rate to keep declining from here. + +Job vacancies provide a clue + +They say one piece of evidence is the surge in job vacancies in recent months. + +The Bureau of Statistics (ABS) defines a "job vacancy" as a position that is available to be filled immediately and for which recruitment action has been taken. + +"Recruitment action" includes efforts to fill vacancies by advertising the position, by notifying trade unions or employment agencies, and by contacting, interviewing or selecting applicants. + +If job vacancies are rising, there's growing demand for labour and positions aren't been filled. +The ABS says there are clear labour shortages in some industries. + +"When we asked businesses experiencing labour shortages the reasons for this, more than usual they noted difficulty in filling vacancies for lower paid jobs," said Bjorn Jarvis, the head of Labour Statistics at the ABS. + +There are thousands of vacancies in industries such as accommodation and food services, retail trade, construction, health care and social assistance, according to the ABS. + +The graph below shows how many vacancies there were in February, by industry. + +The numbers are in original figures, which means the ABS hasn't adjusted them to account for seasonal factors. But they provide a decent guide to where things are. + +If you look at construction, there were 16,600 job vacancies in the construction industry in February 2020, before the pandemic hit, but that number halved to 8,300 in May 2020 when the lockdowns were put in place. + +However, the industry has bounced back and there are now 26,700 job vacancies there. + +If you run your eye down the final column, you'll see the bulk of job vacancies are in the private sector. +Mr Udy from Capital Economics said recent developments in the labour market had beaten expectations, including the Reserve Bank's. + +He said a burst of hiring in February caused the unemployment rate to drop from 6.3 per cent to 5.8 per cent, which was much faster than experts anticipated. + +"The RBA had expected unemployment to remain above 6 per cent until the end of this year, and it forecast that it would only drop to 5.5 per cent by the end of 2022," he said. + +"Even so, the economy still has a long way to go before the RBA will be satisfied. + +"Governor Lowe gave a speech last month which revealed that the Bank has lowered its estimate of the natural unemployment rate which would be consistent with full employment, to around 4 per cent, bringing it in line with our own view. + +"While we are more upbeat about the outlook for the labour market than the RBA, our forecast that the unemployment rate will decline to around 5 per cent by the end of 2022 means that full employment is still a long way off." + +So to be clear, Mr Udy thinks the unemployment rate will be around 5 per cent by the end of 2022, but he's prepared to be pleasantly surprised by the pace of the economic recovery. + +And he says the surge in job vacancies provides evidence that the economy is recovering. + +ABS says there's more evidence + +The ABS says the rise in job vacancies in February matches well with other data. + +Its recent survey of business conditions and sentiment found 13 per cent of employers in February reported staff shortages as a factor significantly impacting their business. + +In the same survey in March, 19 per cent of businesses said they expected to increase staff numbers over the next three months. + +For those anticipating an increase in staff, more than half (58 per cent) expect the jobs to be permanent. +However, businesses are reporting difficulties finding suitable staff. + +For employers that say they don't have a sufficient number of employees, more than two-thirds (68 per cent) say the main factor influencing the number of employees is the inability to find suitable staff. + +That compares to 60 per cent in December, so it's getting worse. + +The problem is most acute for large businesses (with 200 or more persons employed) and medium businesses (with 20 to 199 persons employed). +Large business says the second most significant hurdle to finding suitable staff is having international borders closed. + +What does it mean for the economy? + +There's much uncertainty at the moment. +Australia's COVID-19 vaccine rollout is far behind where health experts and economists want it to be. +At the start of the year, Prime Minister Scott Morrison spoke of his hope to have 4 million doses of the vaccine administered by the end of March. +But as at March 31, Australia had given out just 670,000 doses. + +The slow rate of vaccination will leave Australia vulnerable for longer to COVID outbreaks. It means state governments may have to keep relying on lockdowns to contain any outbreaks. + +If those lockdowns are large enough, they could affect economic activity and hamper the recovery in the labour market. + +On other issues, there's Australia's ongoing trade tensions with China, or the possibility of further possible disruptions to global supply chains, and Australia's runaway property prices that could eventually see regulators stepping in to curb bank lending. + +There are many ways in which the momentum in the labour market could be disrupted. +My brain did that funny thing this morning where it thinks of something either useful, or stupid and I can’t figure out which. + +My energy provider (OVO) offers me a level of interest on any money my account is in credit. From memory it’s 4%, but I can’t find detail of it to confirm and it seems bonkers so may not be the case. + +Regardless, I had the brainwave of paying a lump sum of ~£3,000 from savings into our energy account to cover energy costs for the next year. + +If I do earn 4% then that’s a sizeable amount of interest earned while paying bills, and I can continue paying into the account at my current rate to ride out any future price hikes and not worry about increased monthly outgoings. + +Interested to hear thoughts! +This has been a long time coming. I originally agreed to buy the house in late Oct/early Nov. It turns out the people I was buying it from actually had purchased it for only $2K!!!! But, they had never bought a house before and that $2k represented all the money they had in the world. The previous owner had rented to some people who ended up squatting there for months with no power or other utilities on. She was so desperate to get out of the situation, she agree to sell it as is to these people who she knew cleaned houses as a side hustle. They were able to get rid of the squatters, but they had no idea where to go from there. The squatters ended up stealing the AC unit and some of the wiring on their way out. After spending the $2K to buy the house, they didn't have anything left to fix it up themselves, and quite frankly didn't have the knowledge of what to do or where to even begin. So they listed it on Craigslist. + + This is where I found it....I can't remember the exact listed price. I think it was $12K, but I could be wrong. After seeing the condition of the house, (still full of junk, and lets just say both cats and humans had been using it as an outhouse for a long time....) I debated on even making an offer. I went over it with a lot of scrutiny and determined it had good bones and it was worth trying to save before the city got a hold of it and tore it down. We initially agreed on $7k, but after we got into the process we discovered property taxes had not been paid in a while, and the people I was trying to buy it from didn't have the money to clear everything off the books so they could buy/resale the house. I offer to cover all the back taxes and liens, which made the final total price after closing fees $8,500. + +I initially budgeted about $8K for renovations. This is going to include a lot of cosmetic work, some minor electrical work, some minor plumbing, new flooring and paint throughout, new light fixtures, fixing and upgrading the kitchen cabinets, some work to the sub floor, drywall work, and many many things not listed here. The house will look and smell completely different when we are finished. The budget is going to be flexible on this one. It might be less, or it might be a little more depending on steps we have to take to get rid of the smell. + +The plan is to rent the house for $575 - $600. We might be able to squeeze in a small second bedroom...if so we might be able to get slightly more. The house is in a desirable area on a corner lot, has a large fenced yard in back and a large detached garage. + +I've tried to avoid any of the stomach churning pictures, these are the sanitized versions after we got the house mostly cleaned out. [https://imgur.com/a/SquXsZP](https://imgur.com/a/SquXsZP) As always, feel free to ask any questions. +I'm considering pursuing a masters degree but I want to hear what your everyday life is like. I've tried emailing some and leaving voicemails but nobody had gotten back. + +I have a $50,000/year job. That's $39,000 after taxes. I started this job 6 months ago with $30k in the bank from unemployment. + +Now, after I should have saved $19k more minus expenses, I have....$31k. + +I don't understand how I work full time and don't pay for the car, internet, phone, or my student loans at the moment...yet I'm not making saving any money at all. This has happened to me before where I save MUCH more money MUCH faster while on unemployment. + +I just want to know...is anyone else stuck working all day and finding it just barely covers the cost of being alive? And this is me with much FEWER costs than when I was living on my own! + +EDIT: Wow, a lot of responses! + +1. I will take your advice of using Mint or something to track spending. +2. No, I don't spend more than a combined $200/year on coffee, cigarettes, drugs, liquor, Ubers, sex, dating, Steam games, streaming video subs, eating out, and delivery. I basically live my life as a child...who works 40 hours a week. +3. I'm also going spend a little more time following up invoices. + + +EDIT 2: +Feel free to continue discussing but I can't promise I'll read all the comments going forward. +I appreciate the help overall! I'll keep in mind the advice about minding small purchases, but I don't think I care to read another variation of "I assume you buy lots of Avocado Toast/Coffee/simple pleasures." It's a pandemic and I hate coffee. +Bear with me, because this dilemma is a hybrid between r/personalfinance and r/legaladvice, maybe even just r/advice as well. Sorry if this doesn't quite fit here. + +So roughly two weeks ago, my dad had a heart attack and was rushed to the hospital. They found that not only did he have a heart attack, he had stage IV cancer that was found on his heart, kidney, bones, among others. He had a surgery to remove the major metastases but the surgery didn't go very well; he lost a lot of blood and had another heart attack, and after being on various varieties of life support he died in the ICU. + +I was living with him, as well as my sister who is in high school. I'm 21, and due to mom not being in the picture I will be taking care of my sister. First of all, I need to keep this apartment. Rent is $1,200/mo, and before this mess my dad and I split it, with him paying the majority share of $800/mo, while I had been paying for groceries and utilities. I pay my dad cash and the landlord automatically transfers from his account. I had considered freezing his bank info but decided to leave everything along before coming up with a plan. Before he died he showed me his bank account and he had roughly $8,000 between accounts. He has also said about a year ago that he has a life insurance policy out in my name for $10,000. I have about $4000 between accounts. My income averages around $1,600/mo, but I have a tipped job so it varies. I also occasionally doordash as a side gig, so I can amp this up as necessary. Our lease is up in three months, so I'm attempting to find another roommate before then if I decide to move. + +I feel like it's completely doable in this tight three months, but I have no idea how to correctly navigate any of this, or the legality of any of it, and I'm kind of lost. + +Some other context, we live in Colorado, and my dad has given me power of attorney. + +Thanks for your help! + +>UPDATE: + +My sister and I were tired and still kind of shocked so we slept in before touching any of this. + +So a couple things I forgot to mention that would definitely help context. As far as my mom goes, she's been divorced from my dad for years and actually has legal custody of my sister, but my sister's been living here for about three years. All three of us are covered under medicaid already, and as far as I know my dad didn't have any debts, but I'm not entirely sure. I went on his laptop and was able to export important stuff like passwords and tax info. I decided to just transfer his entire account to mine to avoid any headaches down the road, from what you guys have said his assets are low enough to completely bypass probate. + +I've contacted the hospital and they're communicating with the local cremation company, and their basic services are completely covered by medicaid. I shot an email to our landlord (I'm also on the lease) but I'm still awaiting a response. It's just a guy who has only one rental property and he's been a good landlord, so I'm not worried as far as that goes. + +The one thing I have no idea about is the life insurance. He already happened to be off the schedule at his work for a completely different thing before he checked in, so I don't know if he was still technically employed or not. His life insurance as far as I know is through his employer. + +Thank you for all of your responses! This post got a lot more attention than I anticipated and I'm feeling a lot more confident about this being able to navigate this now. +https://www.marketwatch.com/story/consumer-prices-soar-again-cpi-shows-and-shove-rate-of-inflation-to-a-13-year-high-11623328693?mod=mw_latestnews + +>The cost of living surged again in May and drove the pace of inflation to a 13-year high of 5%, reflecting a broad increase in prices confronting Americans as the economy fully reopens. + +>The consumer price index jumped 0.6% last month to mark the fourth large increase in a row, the government said Thursday. + +>... + +>Another closely watched measure of inflation that omits food and energy also rose 0.7% in May. The 12-month rate climbed to 3.8% from 3% — a 29-year high. + +Edit: https://www.bls.gov/cpi/ and their news release: https://www.bls.gov/news.release/cpi.nr0.htm +Dear Mods, + +As much as I believe WSB members are degenerates (I should know, I was one of them), I do think that they do a few things right regarding the subreddit. Since this is a very young subreddit, I was hoping people could chime in on making this a better place than WSB used to be. That being said, sometimes it's hard to make improvements without suggestions in the first place so I've put a list of things that I would be interested in and others can add to it. + +1. Pinned post to discuss moves and strategies every morning at 8AM ET on each trading day. I think r/WSB does it with an automod bot. (Daily Discussion thread as noted by u/swolking). +2. A "Useful Information" sidebar similar to the one on r/options. Considering a lot of people are here from WSB, a lot of us don't know much about options other than buying calls or puts and betting on the direction. +3. A pinned suggestions post so that members can reach out directly to the mods and talk about improvements to the subreddit. +4. Post Flairs and Strategy flairs as noted by u/swolking and u/sinbadship + +I am new to this as well, but I can gather the information and useful sources if you guys need any help :) Coronavirus boredom is hitting me hard and tbh, I wouldn't mind the creative outlet. I'll keep adding to the list as people comment. + +Edit: Mods, don't take this as us ragging on you. We love the sub and want to see it grow, just like you guys. +One user on the Motley Fool forums wrote an [interesting analysis](http://boards.fool.com/waiting-for-a-downturn-to-invest-after-a-new-hi-32871193.aspx) on what your chances are when waiting for a market drop. The analysis presents a couple of interesting results, but what really strikes me is the following find: + +**The chance that the market drops more than 10% within 6 months after an all-time high is 10.1%.** + +**vs.** + +**The chance that the market gains more than 10% within 6 months after an all time high is 23.1%.** + +This is based on historical S&P 500 data since 1950. + +This means that when the S&P 500 reaches an all-time high you've got far better chances for gains by buying more rather than selling or shorting! +My question: + +* Norway has a [Government Debt of about 170 billion USD](https://countryeconomy.com/national-debt/norway), that is 40% of GDP, or 33k USD per capita. + +* At the same time, it has a national wealth fund (officially called a [pension fund](https://en.wikipedia.org/wiki/Government_Pension_Fund_of_Norway)) of about 1 trillion USD, or about 200k USD per capita, funded by its oil sales. + +**So why doesn't Norway just pay off its debt using its national wealth fund?** + +I was wondering why that was the case... and I think I may have found the answer while I was researching the data to ask the question clearly: + +* Norway pays about [1.33% p.a.](http://www.worldgovernmentbonds.com/country/norway/) on its own government debt. + +* Its wealth fund is actually invested 69% in stocks and 28% in fixed-interest investments, and [it has returned about 3% during the second quarter of 2019](https://www.cnbc.com/2019/08/21/norways-1-trillion-sovereign-wealth-fund-enjoys-returns-on-stocks-and-bonds.html). For comparison, SP500 returned 3.8% during the same period of time. + +So it seems that about 12% of Norway's national wealth fund actually comes not from oil proceedings (although from an accounting point of view it does), but from private and institutional lenders... who lend to the Government so that it can invest in stocks. + +Is this correct? Am I missing anything? +~~There is a lot of conflicting discussion in here. Is this not a well understood concept in economics?~~ + +It seems like the reddit votes are coming to more of a consensus now. +Collector here. Work autofinance. Hardship applications exploding. Call after call of people losing job, business going under, rent deferrals etc. + +Was an unprecedented surge April and May. Slowed now. I predict it will surge again come September. + +What experiences are you having? +Hi my name is Andrew and I have been having issues for a long time. I have been struggling with homelessness for 3 years and finally have found a place that I can live for a year. When I went to college the first time my parents stopped supporting me when they found out I had a relationship with another guy and things have just gone downhill from there. 2 months ago I was tired of living and tried to kill myself but failed and was taken to a hospital and I'm fine now I guess. They connected me with a social worker who put me in an apartment and the deal is I have to pay $300 a month for it which isn't bad since I'm in San Francisco. But my life is kind of a mess. + +I only have $23.43 and my only valuable things are my laptop and my phone, one was a prize in a raffle and one was a gift from a friend. I have about 6 thousand in debt (2k in student loans, 3k in medical bills, and 1k from a credit card I got when I first was homeless that I used to buy food but couldn't pay off) I checked myself at Credit Karma and I have a credit score of 311. I signed up for fall classes at San Francisco City college because it's free and I want to learn things and I will me studying math (my favorite subject!) + +My greatest barriers are finding a job (I haven't got an ID or Birth certificate or Social Security card) and keeping a budget. There is a lot of information and I went through the links on the side but it's all just so overwhelming. I don't know where to start. + +I don't know how long I will have internet for but I really need help working out what I need to do. + + + +Hi, I am adding this later on. Thank you so much for all of your words and kindness. I will post updates on my life. + + +EDIT: (proper format I guess) if you guys want to keep up with how I'm doing I made a Twitter a while ago @DoinEveryfin but I will keep updating on my status + The [S&P 500](https://www.cnbc.com/quotes/?symbol=.SPX) dropped more than 6%, joining the [Dow Jones Industrial Average](https://www.cnbc.com/quotes/?symbol=.DJI) in bear market territory. The 30-stock Dow slid more than 1,600 points, or about 7%. The [Nasdaq Composite](https://www.cnbc.com/quotes/?symbol=.IXIC) dropped 6.6%. + +&#x200B; + + [https://www.cnbc.com/2020/03/11/futures-are-steady-wednesday-night-after-dow-closes-in-bear-market-traders-await-trump.html](https://www.cnbc.com/2020/03/11/futures-are-steady-wednesday-night-after-dow-closes-in-bear-market-traders-await-trump.html) +Im finding it incredibly difficult to work out what to spend money on at the moment. + +As a background, growing up, my parents were divorced and had completely different ideas on money. My Dad despite having a 6 figure salary never spent money on anything, would buy discounted food, wear clothed with holes in; my Mum on the other hand was a teacher but was always incredibly generous with her money, and has the mindset that you can't take it with you when you go, so you might as well enjoy your life now. + +After years of being frugal and saving hard, my partner and I bought a house 3 years ago. We have now cleared most of our debts (from having to fill said house with furniture etc.) and are in a good place financially. I'm just now struggling with the balance of saving for home repairs/a rainy day and wanting to enjoy my life. (I try to set myself a budget of £100 a week for spending but I always feel guilty when I actually spend it) + +So my question to you guys is - how do you balance spending money for fun, and saving. What is it you allow yourself to "splurge" on? +Do you think that the BoC may face resistance from raising the rates too high to curb inflation? It isn't a secret that Canadians have some of the highest debt loads in the world, and that most Canadian families own a house. There is a lot of vested interest in keeping property prices propped up and interest rates low. + +A 25 year 500k mortgage costs $2100 a month at 2%, $2900 at 5% and $3500 at 7%. Surely mortgages won't hit 7%, as plenty of mortgagees would face severe financial difficulty or default on renewal/refinance. Nurses in Ontario would be pretty seriously underwater, as their wages would have barely moved in comparison to costs. + +Surely there would be serious social and political resistance to raising the prime rates too high? What kind of plays can be made assuming that interest rates simply can't be raised too much higher? +ARKK is now -50% YTD. + +Website still says -29% YTD on 3/31/22. + +Oh, I thought, maybe they just don't update the website every week? Nope. The NAV and daily return are updated daily on the website. Yet the YTD calc is almost 5 weeks stale. So, are they deliberately not updating this YTD for almost a week and counting? + +Shame ! +So damn glad I just found this sub. Been following /r/financialindependence and r/personalfinance for a while and frankly, they are such downers. Damn near had me convinced to settle and minimize all risk and give up my dreams. + +I don’t have a super high income (65k/130k family) but I do own and run a successful small business and have a decent net worth (1.4 mil) in my mid 30s. I dream of so much more for me and my family. I read the first dozen or so threads here and I’m so glad to see there’s others who share my passions, dreams, and goals. + +Looking forward to learning from y’all and sharing successes and failures. Cheers! +Recently I was looking for a way to include fund prices in Google Sheets, as the `=GoogleFinance()` formula stopped working for funds some time ago. In a [previous thread](https://www.reddit.com/r/UKInvesting/comments/e02s1u/using_google_sheets_with_funds_that_dont_have_a/), it was suggested that you could use `=ImportHTML()` to pull a table from an investment website, such as MorningStar or TrustNet. The downside of this method is that it pulls a whole table, which is wasteful and involves additional formulae to select the price that you need. Also, I'm a perfectionist, so I tried to find a more elegant solution. + +After learning what XPath was, I have been able to create the following line of code, which pulls *just the price* from the "Market Data" section *Financial Times* website. This works even without an FT subscription. The example below pulls the latest price for Fundsmith Equity Accumulator T-class [from the FT's data page on the fund](https://markets.ft.com/data/funds/tearsheet/summary?s=GB00B4Q5X527:GBP), but obviously you can swap this for any fund you like by changing `GB00B4Q5X527:GBP` for the relevant fund code (search [here](https://markets.ft.com/data/funds/us)). + +Note that, in common with TrustNet and MorningStar, the FT rounds fund prices to the nearest penny, so it is not quite a precise as a fund's website, which typically give price to 1/100th of a penny. + + =importxml("https://markets.ft.com/data/funds/tearsheet/summary?s=GB00B4Q5X527:GBP","/html/body/div[3]/div[2]/section[1]/div/div/div[1]/div[2]/ul/li[1]/span[2]") + +I hope this helps somebody. +This story could definitely have wide ranging impacts within the O&G sector - should be interesting to see how it unfolds: + +* * * + +The chief executives of Exxon XOM -2.65% Mobil Corp. and Chevron Corp. CVX -4.29% spoke last year about combining the oil giants, according to people familiar with the talks, testing the waters for what could be one of the largest corporate mergers ever. + +Chevron Chief Executive Mike Wirth and Exxon CEO Darren Woods spoke shortly after the coronavirus pandemic took hold, decimating oil and gas demand and putting enormous financial strain on both companies, the people said. The discussions were described as preliminary and aren’t ongoing but could come back in the future, the people said. + +Such a deal would reunite the two largest descendants of John D. Rockefeller’s Standard Oil monopoly, which was broken up by U.S. regulators in 1911, and reshape the oil industry. + +A combined company’s market value could top $350 billion. Exxon has a market value of $190 billion, while Chevron’s is $164 billion. Together, they would likely form the world’s second largest oil company by market capitalization and production, producing about 7 million barrels of oil and gas a day, based on pre-pandemic levels, second only in both measures to Saudi Aramco. + +But a merger of the two largest American oil companies could encounter regulatory and antitrust challenges under the Biden administration. President Biden has said climate change is one of the biggest crises the country faces. In October, he said he would push the country to “transition away from the oil industry.” He hasn’t been as vocal about antitrust matters, and the administration has yet to nominate the Justice Department’s head of that division. + +One of the people familiar with the talks said the sides may have missed an opportunity to consummate the deal under former President Donald Trump, whose administration was seen as more friendly to the industry. + +A handful of sizable oil and gas deals were completed last year, including Chevron’s $5 billion takeover of Noble Energy Inc. and ConocoPhillips ’ roughly $10 billion takeover of Concho Resources Inc., but nothing close to the scale of combining San Ramon, Calif.-based Chevron and Irving, Texas-based Exxon. + +Such a deal would be noteworthy in the oil industry, surpassing in size the mega-oil-mergers of the late 1990s and early 2000s, which included the combination of Exxon and Mobil and Chevron and Texaco Inc. + +It also could be the largest corporate tie-up ever, depending on its structure. That distinction currently belongs to the roughly $181 billion purchase of German conglomerate Mannesmann AG by Vodafone AirTouch Plc in 2000, according to Dealogic. + +Many investors, analysts and energy executives have called for consolidation in the beleaguered oil-and-gas industry, arguing that cutting costs and improving operational efficiencies would help companies weather the pandemic-induced downturn and prepare for an uncertain future as many countries seek to reduce their dependence on fossil fuels to combat climate change. + +In an interview discussing Chevron’s earnings Friday, Mr. Wirth, who like Mr. Woods also serves as his company’s board chairman, said that consolidation could make the industry more efficient. He was speaking generally and not about a possible Exxon-Chevron merger. + +“As for larger scale things, it’s happened before,” Mr. Wirth said, referring to the 1990s and early-2000s megamergers. “Time will tell.” + +Paul Sankey, an independent analyst who hypothesized a merger of Chevron and Exxon in October, estimated at the time that the combined company would have a market capitalization of about $300 billion and $100 billion in debt. A merger would allow them to cut a combined $15 billion in administrative expenses and $10 billion in annual capital expenditures, he wrote. + +Exxon was America’s most valuable company seven years ago, with a market value of more than $400 billion, nearly double Chevron’s. But Exxon has fallen from its heights following a series of strategic missteps, which were further exacerbated by the pandemic. It has been eclipsed as a profit engine by tech giants such as Apple Inc. and Amazon.com Inc. in recent years and was removed from the Dow Jones Industrial Average last year for the first time since it was added as Standard Oil of New Jersey in 1928. + +Exxon’s shares have fallen nearly 29% over the last year, while Chevron’s are down about 20%. Chevron briefly topped Exxon in market capitalization in the fall. + +Exxon endured one of its worst financial performances ever in 2020. It is expected to report a fourth consecutive quarterly loss for the first time in modern history on Tuesday and already has posted more than $2 billion in losses through the first three quarters of 2020. + +Chevron also has struggled, reporting nearly $5.5 billion in 2020 losses Friday. But investors have expressed more faith in Chevron because it entered the downturn with a stronger balance sheet—in part because it failed in its $33 billion bid to buy Anadarko Petroleum Corp. before the pandemic, having been outbid by Occidental Petroleum Corp. in 2019. + +Exxon has about $69 billion in debt as of September, while Chevron has around $35 billion, according to S&P Global Market Intelligence. + +Some investors have grown increasingly concerned about Exxon’s direction under Mr. Woods as the company faces a rapidly changing energy industry and growing global consciousness about climate change. Some are also worried that Exxon may have to cut its hefty dividend, which costs it about $15 billion annually, due to its high debt levels. Many individual investors count on the payments as a source of income. + +Mr. Woods embarked on an ambitious plan in 2018 to spend $230 billion to pump an additional one million barrels of oil and gas a day by 2025. But before the pandemic, production was up only slightly and Exxon’s financial flexibility was diminished. In November, Exxon retreated from the plan and said it would cut billions of dollars from its capital spending every year through 2025 and focus on investing in only the most promising assets. + +Meanwhile, the company’s woes have helped draw the attention of activist investors. One of them, Engine No. 1 LLC, has argued that the company should focus more on investments in clean energy while cutting costs elsewhere to preserve its dividend. The firm nominated four directors to Exxon’s board Wednesday and called for it to make strategic changes to its business plan. + +Exxon also has been in talks with another activist, D.E. Shaw Group, and is preparing to announce one or more new board members, additional spending cuts and investments in new technologies to help it reduce its carbon emissions. + +Rivals such as BP PLC and Royal Dutch Shell PLC have embarked on bold strategies to remake their business as regulatory and investor pressure to reduce carbon emissions mounts. Both have said they will invest heavily in renewable energy—a strategy that their investors so far haven’t rewarded. + +Exxon and Chevron haven’t invested substantially in renewables, instead choosing to double down on oil and gas. Both companies have argued that the world will need vast amounts of fossil fuels for decades to come, and that they can capitalize on current underinvestment in oil production. + +https://www.wsj.com/articles/exxon-chevron-ceos-discussed-merger-11612126203?mod=hp_lead_pos1 +Perspective: You can lose your job at any time. Don’t doubt it. Company ownership and departmental leadership can and will change over time. Budget priorities shift. Even competent, senior, trusted, and loyal employees lose their jobs for bad reasons, and random reasons. If you are one of those people, you can probably find a new job. But how long will it take? How secure will it be? How much will you hate it? Job change is among the biggest stressors for most people. + +I’m posting this NOT as a recommendation to quit your FT job and start trading. Rather, it’s a reminder of something that’s worth taking into account, as you consider all factors when making a decision about if/when to make the move to full-time trading. You’ll probably be considering a long list of factors; just make sure this is one of them. + +I wanted to remind people of this because whenever I see posts about how hard trading is, people tend to compare it to a secure job, with guaranteed regular paycheck. Just remember that neither total job security, nor guaranteed income, exist. Not in trading, and not in the corporate world, either. + +For example, if all the other signals are in place (you’ve got $30K or so saved, you have a strategy you’ve been testing on paper for months, your spouse can provide insurance, etc.), don’t be stopped by the misplaced idea that the alternative to jumping in is a 100% secure job and lifestyle. + +I think this isn’t explicitly communicated often enough. +I am new to investing thanks to my GME and AMC positions. I'm wanting to invest more (I'm 31). The talk of a massive bubble burst and recession has me concerned about buying many S&P 500 type companies and etfs. are there any good dividend stocks I could buy today. I'm looking at AT&T and Hormel at the moment. based off basic google searches. + +&#x200B; + +Thanks in advance for any guidance. +So idk what I was listening to but it said “use DuckDuckGo” if you’re having problems with google search so I did it and guess what there are a bunch of articles from independent journalists talking about gme and how Reddit users are still holding. Turns out from what I can tell google is being shady as shit and filtering out results. This is just my personal opinion check it out for yourselves of course. + +Edit: I searched gme short squeeze I was just surprised that anything positive showed up because when I check google for the last few weeks it’s all negative basically calling us bag holders and which new three stocks will make me rich I just want an unbiased search I can figure out which articles to read and what’s trash on my own right? + +Edit 2: I am not saying google is specifically against GME I am saying if you want ALL the articles about GME and not just the crap being pushed by MSM and paid for by HF then use a different search engine +Firstly: this is my first attempt at doing any amount of digging into anything, but this is something I just learned today and felt was important to share. + +Way back in 1987, Alan Greenspan (chairman of the Fed at the time) had the worst stock market crash since the Great Depression on his hands. His solution? Repurchase agreements (indirect quantitative easing), lowering the federal funds rate,and having the Fed purchase a shit ton of treasury bonds (driving their prices up and padding the banks’ pockets). + +Dr. Wikipedia knows a whole lot more than me, so please take a read for yourself: + +https://en.wikipedia.org/wiki/Greenspan_put + +The importance of this, aside from making the problem (temporarily) go away, was that I set a precedent; sleazy financial institutions could count on drastic action by the Fed to fix their fuck ups. + + In addition, all the extra ammo that was printed, loaned, or otherwise created was used up to compound the problem. Don’t believe me? Here’s a pretty graph and a particularly juicy bit from the Wikipedia I linked above: + +https://imgur.com/a/AmsHSCA + + “The Fed also acted to avert further market declines associated with the savings and loan crisis, the Gulf War and the Mexican crisis. However, the collapse of Long Term Capital Management in 1998, which coincided with the 1997 Asian Financial Crisis, led to such a dramatic expansion of the Greenspan Put that it created the Dot-com bubble. After the collapse of the internet bubble, Greenspan amended the tools of the Greenspan Put to focus on buying mortgage-backed securities, as a method of more directly stimulating house price inflation, until that market collapsed in the Global Financial Crisis and Greenspan retired” + +Yes, you read that right, this dick gets to come out with a bullshit financial policy, watch it fail like 4 times, and then retire. Some time around the dot com bubble people should have realized that shit wasn’t working right (they probably did). + +I’ll be honest with you guys, I was in it for the money last year in January. The things I’ve learned since, though… I won’t settle for anything less than the dismantling of this disgusting corrupt network of book cookers and embezzlers + +**TL;DR:** + +This shit is worse than I originally thought. The financial fuckery and can kicking has been going on for 40+ years right under everyone’s noses. +DADDY ELON DID IT AGAIN! Another Tweet, another 100x token! This could be the next DogeFather. + +&#x200B; + +The dev is in voicechat answering questions, chart looks good, ownership renounced, liquidity locked, code looks clean in rugcheck. The other Sharktank (BST) rugged at 20k MCap, this one looks like it has legs and this dev has no way of rugging. I cant guarantee you it won't rug but I dont see how the dev could pull that off. Trending on Tokensniffer! + +&#x200B; + +📈Tokenomics: + +&#x200B; + +\- 1 Trillion initial supply + +&#x200B; + +\- 10% Total Tx Fee (Set Slippage 11-16) + +&#x200B; + +\- 8% to Liquidity + +&#x200B; + +\- 2% Redistributed to Holders + +&#x200B; + +🚀 Renounced Ownership: [https://bscscan.com/tx/0xd71a61f54a947c0792cbb549f146bee2e48500fab238994798a22b1d5d4c1027](https://bscscan.com/tx/0xd71a61f54a947c0792cbb549f146bee2e48500fab238994798a22b1d5d4c1027) + +&#x200B; + +🚀 Liquidity Locked: [http://dxsale.app/app/pages/dxlockview?id=0&add=0x5A9B851b63Aff70e5FeFa9C3762c791f490b8180&type=lplock&chain=BSC](http://dxsale.app/app/pages/dxlockview?id=0&add=0x5A9B851b63Aff70e5FeFa9C3762c791f490b8180&type=lplock&chain=BSC) + +&#x200B; + +🚀 Contract ID: 0x484312a0aaeae3ae36a74ff3e294246f35dddf4f + +&#x200B; + +🚀Pancakeswap BUY link: [https://exchange.pancakeswap.finance/#/swap?inputCurrency=0x484312a0aaeae3ae36a74ff3e294246f35dddf4f](https://exchange.pancakeswap.finance/#/swap?inputCurrency=0x484312a0aaeae3ae36a74ff3e294246f35dddf4f) + +&#x200B; + +🚀 4chan: [https://boards.4channel.org/biz/thread/34316140](https://boards.4channel.org/biz/thread/34316140) + +&#x200B; + +🚀 Blockfolio: [https://feedback.blockfolio.com/coin-requests/p/baby-shark-tank-bashtank](https://feedback.blockfolio.com/coin-requests/p/baby-shark-tank-bashtank) + +&#x200B; + +🚀 Telegram: [https://t.me/therealbabysharktank](https://t.me/therealbabysharktank) + +&#x200B; + +🚀 Coinmarketcap: at 1M MCAP! + +&#x200B; + +🚀 Coingecko: at 1M MCAP! + **TLDDDR (Too Long Dumb Dumb Didn't Read): Before market close today, the options mix conditions were primed for a significant increase in volume from hedgies hedging with small changes in the underlying price. Not sure if you saw this.... but AH exploded.... hedgies are f'd.** + +&#x200B; + + **Quick Recap - 1/5/2022 Posted Last Night** + +I've been on vacation over the holidays (Happy New Years btw!), but have been making mini posts over on my account for anyone actively looking for an update. + +[Last night, I made this post](https://www.reddit.com/user/yelyah2/comments/rx8t4c/gme_update/), which said said the following: + +"You'll notice that gme dropped past the unadjusted Delta neutral today and formed a spike. Think all indicators point towards gme dropping too low, and should bump back up. + +Also note that the DN finally leveled off, indicating hopefully the steady downward drop for the gme underlying should be bottoming out. + +The gamma max also has come down to $183, moving the goal posts lower for some squeezes!" + +&#x200B; + +[GME 8\/24\/2020 - 1\/5\/2022](https://preview.redd.it/xon9h0qhl5a81.png?width=909&format=png&auto=webp&s=3d08e982de2abd84cb484607d82f3d375d40f311) + + + +**Read Me...** + +I've been posting for awhile, but I want to make it clear what information you can (and can't) get from me and my model (mostly indirectly asking.... why are you listening to me again?): + +* I don't know everything. I'm not a professional trader. My full-time job is a mathematician / statistical model builder. + * I got bored during lockdown and needed a hobby. My husband bought me a crochet kit, and I said... meh... I'll build a trading model instead. +* My model has not been peer reviewed, and it'll stay that way because I'm giving out my baby for free to this community. It's staying proprietary for now, but I also always post assumptions / methodology and answer any questions you have about my work. I've helped some people try to build their own model to replicate my results, and I'm happy to do the same for you. +* I have backtested my indicators using various machine learning algorithms, and my side-hustle is exclusively trading options using my model. It does very well. I also often show other tickers/years for comparison in most posts. This is the only proof I can give you. +* I have lots of caveats/limitations at the bottom. Read them. +* [I don't feel like posting my methodology/assumptions in every post (plus hardly anyone ever reads them). If you're interested, they're here.](https://www.reddit.com/r/Superstonk/comments/qfeama/options_market_says_the_price_is_wrong_with_delta/) +* My indicators are based on options data, but this post is not an endorsement to buy options. Please don't drag me into whatever options drama is going on in the sub. However, you're an adult and can do whatever you want with your money (buy the stocks, buy options, I don't care), just try to be sensible and don't gamble your rent money.... + * I'll say that options are an easy way to lose a lot of money if you don't know what you're doing, and it's also an easy way to lose money if you do know what you're doing... +* I'm hoping to continue posting mini-updates on my account, [https://www.reddit.com/user/yelyah2](https://www.reddit.com/user/yelyah2), because I'm guessing if you're there, you already understand some basics about the work I'm doing. Takes a lot of time to write up these posts and field questions, which I'm happy to do, but it's also a lot easier to just update an image on my phone with a couple of notes/observations. + * Feel free to check there, or ask for a different ticker and I can post there as well along with commentary. My model runs this analysis for any optionable stock. + + + +**Graphs** + +So without further delay, here's the updated graph with data through 1/6: + +&#x200B; + +[1\/4\/2021 - 1\/6\/2022](https://preview.redd.it/r7dv5rpwn5a81.png?width=1421&format=png&auto=webp&s=c613f6147d83db9ab69844a734ff3efa4bd4f372) + + + +The primary indicators included in these graph include: + +• **Delta Neutral (DN)** \- This represents the underlying price that would create a total market delta of 0 across all options (all expiration dates) for a given date and ticker. In general, it acts like a floor to the underlying price, but if the price drops below the delta neutral, then it tends to shoot back up above that line. This graph includes two versions: + +* **Adjusted (grey)** \- excludes strikes in the extremes which are not typically actively hedged with movements in the underlying. [Look towards the bottom of this post for more information on this adjusted version.](https://www.reddit.com/r/Superstonk/comments/rg8cbg/gme_is_testing_my_models_limits_and_im_cautiously/) +* **Unadjusted (yellow)** \- includes all strikes in the delta neutral calculation. + +• **Gamma Maximum (GM)** \- This represents the underlying price that would create the maximum gamma across the market. The GM seems to act like a ceiling, but fun things happen when the underlying crossing that threshold! + +• **Delta Sensitivity Test** \- This is basically a gamma test, but I like this view better visually with my graphs. This represents the % change in the total market delta associated with a 5% increase in the underlying stock price. Significant spikes represent unusually large hedging patterns based on the options mix, and can indicate the potential for significant buying / selling power on the underlying ticker. + +&#x200B; + + Here's a log-based 10 view on the right-hand dollar amounts, so you can see the build-up in 2020. I also scaled the sensitivity test on the left-hand side to see the full spike from last month. + +&#x200B; + +[GME 8\/24\/2021 - 1\/6\/2022](https://preview.redd.it/m1d65a0yo5a81.png?width=1421&format=png&auto=webp&s=f73e9acf65c00af4519ffb667e20fd83e5ec084e) + +Here are some key points for you: + +* [Yesterday, GME tanked below the delta neutral, and a delta sensitivity spike started forming](https://www.reddit.com/user/yelyah2/comments/rx8t4c/gme_update/?utm_source=share&utm_medium=web2x&context=3) +* Notice that the DN did not drop quickly with it, which means that the options market didn't think the drop in the stock market would hold for very long. +* Because the options mix didn't drop with the price, it created a situation where small changes in price result in much higher levels of purchasing than usual. +* As you can see above (more so in the first graph that isn't scaled for the green December 2021 monster), these delta sensitivity test peaks occur BEFORE surges, so small price increases in the underlying would get bonus volume from hedgies hedging that surge, to the tune of a 273% increase in the total market delta (i.e. stocks to hedge) with a 5% increase calculated last night. +* So for example, when GME dropped 9% this morning, my model told me this dip wouldn't hold, so I bought some $125 calls in the dip (don't drag me into a fight, I only trade options, but it's smart to stick with stocks if you don't know what you're doing. This is just to show I put my money where my model is). +* With the data processed today, even though there was a 1% increase in the underlying price, the delta sensitivity test increased to \~760%! + * Quick note - this sensitivity test assumes perfect hedging, which is totally unrealistic. Biggest take-away is that the potential hedging increase is significantly higher than it usually is. +* As of writing this.... the After Hours price is up \~32%! +* It's easiest to show my 5% sensitivity test, but it goes up to 10% (definitely not up to 30%... cause that would be crazy.... right??). However, using my 10% sensitivity test showed that a 10% increase in the underlying price would result in \~2.65m net shares would need to be purchased to perfectly hedge. + * For reference, \~1.3m would need to be hedged with 5% gain and \~500k would need to be hedged with a 2% gain. + * Imagine how many shares would need to be hedged with a 30% after hours gain?!? If we assume it's linear, then that's \~8m shares to perfectly hedge! + * Now.... hedgies don't perfectly hedge... This would be a ridiculous assumption. However! Tomorrow is Friday, and they will have to do some hedging, or there would be an unusually large settlement next week. If those aren't filled, then we get more FTD's -> FTD squeeze + * [check out u/bobsmith808 post on FTD's, cause he's the best!](https://www.reddit.com/r/Superstonk/comments/rw4769/dd_reposting_for_visibility_update_to/) + * Even if they hedge like...40% of what they're supposed to... that's like \~3.2m shares to hedge tomorrow which is is still \~40% higher than the \~2.4m 30-day average volume for GME.... just because of hedging the AH gain! + +Here's another graph I've been working on with u/zinko83, with a focus on volatility. This graph adds in the vega neutral (purple) and gamma neutral (green) to the primary axis, and uses skew/kurtosis (blue/orange) in the secondary axis. This graph is a work in progress, so looks a bit funky. + +&#x200B; + +[GME 1\/4\/2021 - 1\/6\/2022](https://preview.redd.it/kkhqin4wu5a81.png?width=1421&format=png&auto=webp&s=cf6516ff0ae7703b3502703ad13b4064f0f8392b) + + As you can see, before close today the 30-day skew and kurtosis for GME options sank , to a level we haven't quite seen since.... wait for it.... 2021Q1! Bullish?!? Me thinks so.... + +&#x200B; + +**Caveats and Limitations on Use** + +These graphs contain output from my personal model. I am not qualified to provide financial advice, and have no experience trading professionally. This model has not been peer reviewed, so use this output at your own risk. + +This model serves to help Redditors make investment decisions, but still requires Redditors to consider other relevant information, including earnings reports, news, relevant events, momentum and reversion to the mean in the underlying stock. Redditors should think critically about emerging information, and not make decisions solely based on this output. + +In performing this analysis, I relied on raw daily options summaries from historicaloptionsdata.com. I have not audited or verified this data and other information. If the underlying data or information is inaccurate or incomplete, the results of this analysis may likewise be inaccurate or incomplete. + +These graphs are not predictions of the future; they are indicators based on the assumptions. Emerging results should be carefully monitored with assumptions adjusted as appropriate. + + **TLDDDR (Too Long Dumb Dumb Didn't Read): Before market close today, the options mix conditions were primed for a significant increase in volume from hedgies hedging with small changes in the underlying price. Not sure if you saw this.... but AH exploded.... hedgies are f'd.** +You could be worried that when you're 40, you won't have a career for some reason (automation, health problems, etc). I'd say this is a big contributing motivator for me, how many people does this apply to? +I’m just a lurker here, Still an extremely far way away from FIRE, not to mention FatFIRE. + +What’ll it take to retire to somewhere like Monaco, Luxembourg or Switzerland (I know, not a city state, so maybe Geneva or Zurich) Maybe even Singapore. + +Im talking a nice 2 bedroom apartment in the heart of the city with an additional small villa with a garden somewhere in the suburbs. + +Dining out somewhere really nice once a week kind of thing. + +Those are all well known for being places with very high standards of living with almost zero crime and lots of metropolitan things to do. + +I’m guessing 5M won’t cut it? Are we starting to talk in the 10-20M plus range now? Or even higher? +I am a self-taught wealth management advisor. I have developed several investment policy statements for friends and family. In general, I recommend a Boglehead approach - passive investing and diversification through low-cost well diversified ETFs. + +I am considering financial advisory as a second career / side hustle. In my part of the world (Bosnia, Croatia, Serbia), there aren't many financial advisors or planners. + +Would it be worth obtaining an EFA (European Financial Advisor) or an EFP (European Financial Planner) certification from EFPA Europe? + +[https://efpa-eu.org/index.php/standards-qualifications/](https://efpa-eu.org/index.php/standards-qualifications/) + +I am not sure anybody knows about these certificates, but it might put some prospective clients at ease if they know I have a formal certificate as well. + +I have also considered CFP or CFA, but I have the following issues with them: + +1. too much time needed to complete it +2. too much focus on US-specific topics +3. covers too many topics which are not relevant for wealth management advisory + +Does anybody have experience with EFPA certicifates? Could you perhaps recommend some other certificates? Many thanks! +If you post that your account dropped $20k, and we know GME dropped $82.17 per share, then we know how exactly many shares you have! + +**shares = loss / closing price difference (82.17)** + +Please, I know most of you have good intentions showing how the dip is just a blip, but please don't divulge amounts of how much your GME position changed. Thanks :D +Hey everyone, I’m 24 years old and trying to get approved for a loan to help pay for my wedding as well as moving expenses as I will be switching apartments with my fiancé a week before the wedding (terrible timing but what can you do when you rent). I have a decent enough credit score, 656, and make $41,000 a year on my own and jointly my fiancé and I make just under $100,000. We’ve tried getting loans independently and jointly but no luck. Any advice or recommendations would be greatly appreciated! Our wedding and move out date is in October so the sooner the better. +I'm relatively new to investing in dividend companies, but I'm shifting upwards of half my portfolio in that direction. Does anyone else avoid certain companies because of what they sell? Doing so was much easier when I traded stocks more actively, since there are so many, but I'm looking to invest more passively (life is getting busier), including in companies with dividends; there are fewer dividend-yielding stocks, so it's harder to avoid those companies/industries without holding back my portfolio's growth. I'm torn on the ethics between making my own money (good) and giving power, however tiny, to a company I don't want to support (bad). For example, $MO (Altria Group) has a big dividend at 7.20%, but I really don't want to support the tobacco industry, even by purchasing just one share of stock. I've seen a lot of portfolios shared on this sub that include $MO. Am I the only one who struggles with this money vs. ethics issue? How do you all square that circle? +Remember that headline about Kenny returning 7 Billion to his clients because 'sources familiar with the matter' say his fund performed so well? + +Remember when his clients wanted to cash out and he blocked them? Due to his contract with his investors, they were only allowed to withdraw a small percent each quarter, if you do the math, it shows they withdrew the maximum amount they could. I'm sure if they wanted to leave fully, they would, but legally they cannot. I wouldn't be surprised if more of these headlines appear in the coming months. + +Thats how easy it is to spin a negative into a positive. + +Paid media headline = "Ken Griffin performs so well he returns 7 Billion to clients" + +Actual reality = "Investors withdraw 7 Billion from Citadel" + +A side note I wanted to mention which I see a lot of people get wrong. Citadel is the parent company, which owns two subsidiaries, one being Citadel Advisors (The hedge fund), the other being Citadel Securities (The market maker). It is Citadel Securities that is short GME (65 Billion+ in shorted securities) not Citadel advisors or Citadel. So when you hear news of Citadel doing well, they are attempting to refer to the hedge fund arm. The market maker arm is NOT doing well. So bad in fact, kenny had to sell some to Sequoia Capital and Paradigm. He also sold bonds that were rated as junk bond status and took on multiple loans/debt. + +disclaimer = These are my own opinions and not financial advise. +As mentioned previously, I'll be picking a random ASX stock that I've (personally, yes I'm aware it may have been posted here at some point in history) never seen discussed on this sub - and that I do NOT hold - for us to discuss per week. + +This is for us all to have a look at what it does, some of their financials, and in the end discuss whether or not we'd buy into it. + +Think of it as a sort of "group DD" in which we pool our 5 collective braincells together and evaluate the chosen company. + +The main purpose being to add some more variety in tickers to all the standard meme stocks we see pumped day in and day out, and hopefully discover some hidden gems - or at least, less stinky forms of dogshit. + +The only other criteria is that the share price has to be under $2. + +So, without further smug explanations: + +\_\_\_\_\_\_\_\_\_\_\_ + +# Random ASX Stonk of the Week - Week 4: + +**Company name:** XRF Scientific + +**Ticker:** XRF + +**Industry:** Industrials/Technology + +**Headquarters:** Perth + +**Market cap:** $38m + +**Current share price:** $0.28 + +**P/E ratio:** 10 + +**1-year Performance:** \+83.87% + +**What they do, smoothbrain version:** provide glow in the dark liquid to speccy miners to help see whether the hole they're standing next to is worthless or not + +**What they say they do, wanky version:** "XRF’s products help customers to improve product quality and performance, increase productivity and yield and reduce downtime and waste." 🍆👋 + +**What they do, actual version:** This one may be fairly dear to the heart of many posters on this sub given how many of us gamble on dodgy miners to find out whether their shitty mines are actually worth a damn. + +**XRF** is a Perth-based business whose key focus is on a mix of chemicals, equipment and processes used to assess the quality of mineral samples provided (mostly) by mining companies. + +Their tech is actually quite cool, in which a miner provides them a sample drilled from their mine, which XRF then take and harden into a mould in the shape of a glass disc, then use their machine called a "spectrometer" to analyse its contents. That at least *sounds* fucking smart, so bonus points there. They also sell proprietary equipment that carries out these processes to clients themselves. + +They're Aussie-based, but have a mix of offices and distributors across most of the world, and their business seems to scale well hand in hand with the mining industry in general. This is due to not only the consumable/chemical side of their business growing, but an increase in sales of their physical analytical machines as well. + +**What looks good:** + +* Experienced management team with a decent amount of insider buying and hardly any insider selling; their management own nearly 30% of the SOI shows faith in the company +* Minimal amount of debt, and very healthy financially both P/B and cashflow wise for a smallcap company +* P/E of 10-ish is very strong for a profitable smallcap as well +* The debt they do have was mostly used to buy around half a million $ worth of physical platinum metal, which added to their existing stockpile of metals such as rhodium which continue to increase in value; quite a rare thing for a company like this to have a decent chunk of assets which gain rather than decrease in value +* Earnings after tax from their most recent report up 47% on the same period the previous year +* Profitability has trended up consistently every year for the past 4 years +* They pay a pretty damn substantial dividend for a company so small, just under 5% yield while still increasing profits decently YOY + +**What doesn't look good:** + +* They were a beneficiary of "government subsidies" (likely JobKeeper) which accounted for about an extra $700k of their revenue +* Sentiment is on a downward trend for their share price over the past 3 months; this does not pass the "sentiment test filter" I usually apply before buying, and would be looking for the trend to reverse before actually clicking the Buy button +* While profits go up year on year, they never really "rocket", implying this will never be a "bagger" in the foreseeable future unless something drastic changes +* Whenever I see a smallcap paying a hefty dividend, I always wonder "why"? Reinvest that shit in more growth, boyos. + +**Overall rating (strong buy/buy/hold/avoid):** I, personally, am intrigued enough by this company that - even though I don't own it - it has been placed on my watch list as a potential buy. I like that it is mining-adjacent but not attached to any specific metal, so hopefully not as as subject to price fluctuations in individual commodities. + +Their tech is quite innovative for an ASX company, and although the government payments are always a red flag, they still made enough extra profit YOY when deducting those subsidies to show decent growth. + +They remind me of a potential mini-version of one of my favourite larger stocks, **Codan (CDA)** which has done *very* well for me for the duration I've been holding it due to servicing the mining industry without actually mining themselves. If you're bullish on the mining sector in general, but not wanting to commit to an single metal, it could be an interesting way to hedge your bets assuming you have faith in their future growth. + +This is probably a BUY for me personally, but I don't need multi-baggers to be happy *personally*; would be keen to hear reasons as why people would be against it, as I'm sure there are several. + +**MarketIndex page:** [https://www.marketindex.com.au/asx/xrf](https://www.marketindex.com.au/asx/xrf) + +Feel free to add more DD/comments below. + +**Would you buy this stonk? Why or why not? Feel free to vote in the poll.** + +Link to previous Stonks of the Week: + +[https://www.reddit.com/r/ASX\_Bets/comments/m3tllz/random\_stonk\_of\_the\_week\_gale\_pacific\_gap/](https://www.reddit.com/r/ASX_Bets/comments/m3tllz/random_stonk_of_the_week_gale_pacific_gap/)[https://www.reddit.com/r/ASX\_Bets/comments/lyojgx/random\_stonk\_of\_the\_week\_mcgrath\_mea/](https://www.reddit.com/r/ASX_Bets/comments/lyojgx/random_stonk_of_the_week_mcgrath_mea/)[https://www.reddit.com/r/ASX\_Bets/comments/ltbpmi/random\_stonk\_of\_the\_week\_empired\_epd/](https://www.reddit.com/r/ASX_Bets/comments/ltbpmi/random_stonk_of_the_week_empired_epd/) + +[View Poll](https://www.reddit.com/poll/m91bon) +Recently i've been seeing a lot of "you're a retard. YOLO. BEAR GANG!!!" Type of posts which borrown from WSB lingo. + +I Iove wsb bets, I am an autist over there, over here I am a closeted autist, there's no need to display that behaviour here. + +Don't ask don't tell should be followed here, mods I implore you, make wsb lingo illegal in these parts. + +Edit: SPY 200 4/17 p + +Edit 2: Ok guys, I'm banned from WSB. Scrap everything I said, please feel free to speak like autists over here. I know i am going to start doing that. 🏳️‍🌈gang + +Edit 3: Ok guys, the ban from WSB has been removed. Thank you wsb mods for removing jartek and his scum. I once again would like to reiterate my anti-WSB rhetoric stance in this sub :) +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! + +**Question:** + +For people that are on/above their higher end FAT FIRE numbers, how do you structure your existence? Is the administration of living across multiple countries and keeping yourself tax efficient worth it? What countries do you reside in and how does it impact life, esp if you have kids? It is isolating? Are there people that do this for you? Currently looking at some combination of Portugal/US/Canada/Australasia/UK + +\[deleted personal details as less interested in my situation than what other people are doing\] +[https://www.cnbc.com/2018/09/04/amazon-hits-1-trillion-in-market-value.html](https://www.cnbc.com/2018/09/04/amazon-hits-1-trillion-in-market-value.html) +I live in HCOL area and the idea of purchasing a place would take up a large amount of my NW. It's hard to justify when rents are "fine." Even in a rent vs own calculator a lot of times the numbers say just keep renting. Have any of you NEVER owned property? Do you regret it? Thanks + +Edit: I did not expect so many thoughtful responses! You’re giving me a lot to think about and I really appreciate it. +Hope nobody takes this as an attack, but I see a lot of posts here asking for trade reviews, and most of them are obvious why they fail. + +Thought I would provide a list of resources and concepts to help you trade like the big boys. + + + +-Volume Price Analysis is one of, if not the most important aspect of analysis. Read ‘Volume Price Analysis’ by Anne Couling. + +- Your mindset probably needs refining. Read/listen to Mark Douglas, specifically ‘Trading in the Zone’. He will provide you with ideas that you haven’t thought of. + +- Understand the options market and Greek derivatives. EVEN IF YOU DONT TRADE OPTIONS. In this day and age, options hedging by market makers are the primary reason why stocks move. This is a fact. +This one is more complex, but super important. Go to Spotgamma for help and be a sponge. + +- HAVE MARKET AWARENESS. Learn the relationship between the equities market and the bond market. + +-TRACK THE VIX INDEX. The vix is the Volatility Index, and is often referred to as the ‘fear index’. When the vix rises, stocks are more likely to decline + +-TRACK THE GREATER MARKET ALONG WITH YOUR PRIMARY CHART. +Is money starting to flow into bonds(therefore out of stocks)? Is VIX rising? Probably not a good time to go long. These aren’t the only things to track but a good starting place + +-KEEP A TRADING LOG and make sure to note why you entered and exited the trade + +- THINK IN PERCENTAGES NOT DOLLARS. Trying to reach a monetary goal will keep you in trades too long. Analyze and think about what percentage gains are appropriate for this single trade + +-DEFINE YOUR RISK IN PERCENTAGE LOSS FOR EACH TRADE + +This is a good starting point IMO. Feel free to add + +EDIT: also… the buy the dip strategy works til it doesn’t. Afraid for the people who only buy dips. You WILL blow up your account at some point unless you know how to succeed in other market conditions +Not one to make posts like this, as I prefer memes, DD, and shitposts.. \*BUT\* working in the IT field this is sort of driving me nuts. + +Please Please Please for the love of Chairman Cohen and all things Superstonk related, + +&#x200B; + +\*\*\***DO NOT** click on PROXY VOTE links posted in threads here unless it is posted by an Admin/Mod/Reputable person!!\*\*\* + +&#x200B; + +This has huge potential to be what is called "Phishing" + +quick definition- + + *Phishing* is a type of social engineering attack often used to steal user data, including login credentials and credit card numbers. It occurs when an attacker, masquerading as a trusted entity, dupes a victim into opening an email, instant message, or text message. + +&#x200B; + +If this is done and asks for your personal info, CONTROL NUMBER, etc and you input it thinking you are about to vote.. You potentially could be giving your vote to THE BAD GUYS! + +Most of your brokers should be sending emails with information on how to vote. If not, you should call, chat, email them directly. + +&#x200B; + +Tits=Jacked + +Crayons=snorted + +Cohen=Daddi + +This is the way. + +Spread the good word + +&#x200B; + +That is all. + +\-GHS +Been noticing lots of negativity regarding Australia's economy of late, and given our current market conditions and our national day being upon us, I thought I'd try to boost everyone's outlook a tad. The amount of down votes and push back I get when I'm bullish about our economy makes me think I need to lay some figures out and see if everyone's actually been doing their homework. + +**Competitiveness** + +So, here we go. The haughty bourgeoisie at the **World Economic Forum** define competitiveness as the - "set of institutions, policies, and factors that determine the level of productivity of a country". The WEF's **Global** **Competitiveness Report** series distinguishes: + +1. "Factor-driven" the least developed economies, typically relying on low-skilled labour and natural resources. +2. "Efficiency-driven" developed economies, focusing on improving economic output by increasing production efficiency. +3. "Innovation-driven" most developed economies, which rely on innovation and technological changes to drive growth. + +By these metrics the most competitive economies are countries like Switzerland, Singapore and the United states. One of the key factors in the competitive index is GDP per capita, because highly skilled and productive populations in theory out compete lower skilled, less productive ones. With the notable exceptions of the USA the *most* competitive economies are also usually the smallest. In regards to raw competitiveness, top 10 GDP powerhouses like Germany, Canada and the UK are merely top 20 (alongside Australia) with Japan scraping the top 30. + +**GDP** + +But, we all know size matters, and in terms of nominal GDP Australia is just shy of the top ten. I also recognise everyone's standards for a utopian economy are quite high, so we should depopulate a few 'regimes' out of the top 10 that are ahead of us (notably Brazil, India, China and Russia). The WEF's Benchmarking Network is inclined to agree, prioritising the provision of basic economic requirements, such as institutions, infrastructure, and education, with the most competitive countries maintaining high quality road networks, transportation, infrastructure and primary education. + +**GDP per capita** + +So really the candidates for the utopia you're all longing for are Germany, Canada and the USA. Now, i'm guessing you're probably going to want some spending money in your mixed market paradise, so let's look at GDP per capita. While the USA just ranks in the top 10 (9th), Australia is just shy at around 13, while our other candidates populate the top 30. But you can't buy cocktails with some abstract aggregate GDP numbers, we need cash baby... Credit Suisse’s *Global Wealth Report* found that the median wealth per adult in Australia was the highest in the world\* (depending on year) and also has one of highest rates of annual increased wealth per adult, with almost one in 10 Australian adults being considered a (USD) millionaire, a figure expected to increase by up to 70 percent in the coming years. + +**Future** + +Can the good times last you ask? While its true, this is all 'history' (everything is btw), our track record of avoiding economic crashes has been stellar to date, and of late because our economy is based on primary industry and China demands our dirt. That said, our fiscal policy is sound, and the economic playbook (such as it is) dictates we spend our way out of threats to aggregate demand. These two points (fiscal policy and primary industry) bring us to the main criticisms you'll hear regarding housing bubbles and a china centric cash flow etc. + +* Firstly, the EU, USA and Japan are also China centric, and outside of Germany (who getting cosier by the day with Russia who in turn is getting cosier by the day with China) the Japanese and American relationships with China are far worse than ours, outright sabre rattling, not to mention India and Taiwan. So really we are par for the course here. +* Secondly the 'hosing bubble'... if the last 30 years of fiscal management tell us anything, its that you need to clobber our nation with a combination of plague and fire to slow us down, biblical stuff. If our houses are expensive, its because we have money and the world is prepared to loan us more, which incidentally is a good sign. Do we over shoot? markets over and under react, thats what markets do. +* Thirdly, population ponzi's, its not a secret that developed nations have ageing populations. when womens education goes up, and you introduce light bulbs, birth rates go down. This isn't uniquely Australian. Take a look at lists of birth rates across OECD and you will see the same numbers, it distinguishes a mature economy, not disqualifies. +* Lastly, dropping educational standards. Go on QS rankings take a look at our Universities, look at the h-Index of the professors and come back with some metrics. The fact that exporting education is one of our primary incomes should trigger some alarm bells, we contribute world class intellectuals, that Terrance Tao and David Sinclair moved to America doesn't diminish us, its not like they moved to Chile or Uganda, we still have world class research institutes here. Of course it could be a conspiracy... Please link me some sweet youtube clips to look into bro. + +Its important to distinguish between absolute statements and comparative claims, if you are making a comparative claim.. then you need to *actually* compare. Identifying that the Australian economy isn't perfect isn't enough to convince me there are many, if any, places id prefer my capital, and our levels of debt mean in general the world agrees. According the WEF, the worlds *least* competitive countries have particularly *low* debt to GDP levels, and regards it as a negative signal, reflecting lenders lack of confidence towards governments and economies, which ultimately represents a hinderance to modern fiscal policy and innovation investment. + +&#x200B; + +https://preview.redd.it/7l2mrkrruyd81.png?width=650&format=png&auto=webp&s=8b625bf58e28faf53afe6ae01c7a7421bfc73ff6 +Anyone here have experience or connections in getting French Laundry reservations. I specifically got Amex platinum to make the reservation for our 10 year wedding anniversary but they fell through. We directed our entire trip around going there on our anniversary June 18th, 2021. I’m trying every channel to get seats. I literally will pay $5-10K plus for seating for 2. +When I caught news of RC's buy in - my brain was in shock. I was trying to draw a conclusion on why/how this works in step with GME. Then I started to agree with others here in that its not part of the GME business plan. So what could it be? + +Perhaps we are going to see a sneeze with beyond and its [meant to be a warning shot](https://i.imgur.com/FvAbTyJ.png) - to shorts, the SEC and the governing bodies who sit on their hands and do nothing. + +The buy in timing, RCs raising of the Jolly Roger (and change over from a false flag), calling out the shorts and now firing a warning shot. + +Buckle up boys and girls, the wild west of wall street is about to get flooded with the red blood of the new high seas. + +**HODL FAST AND GIVE NO QUARTER** ^of ^a ^share +[The GitHub repository is here.](https://github.com/joesocktwo/Wall-Street-Bets-Master-Doc) I need someone to curate it. Feel free to reach out. Respond to the discussion opened by ctabka to be invited as a collaborator. + +&#x200B; + +Before people start throwing money at stocks they haven't researched: I am not (yet) prescribing any positions. The stocks I've listed in the edit at the bottom of this thread are what I've collected from the comments and have *not* been vetted by me. I'm floating the idea of opening a google doc for public collaboration on research into these banks. I don't vouch for any of the tickers I've mentioned in this thread. Yet. + +I also want to make it clear that I'm not predicting a bunch of US banks to fail. They're better insulated from this than the rest of the world. The vulnerable ones are abroad, and they're the ones with really lazy lending standards. US banks will be hit, but likely won't tank. Also, as stated at the end of this post, please correct me where I'm wrong. Feel free to leave a comment, but definitely reach out to me via chat or DMs so your message doesn't get buried. I would rather prioritize constructive criticism than a bunch of excited assent - *if I am wrong, tell me in my DMs, preferably with an explanation rather than just "you're full of shit"* + +Drop me a chat (not a dm, swear to god, reddit doesn't need two different messaging systems) if you'd like to talk about coordinating. I'll get up with you guys tomorrow. I would love to pool information and repost this over the weekend with a more comprehensive picture of what the fuck is going on with the international lending system. Cheers! + +***Jesus, this really blew up. I'm at work right now, so I won't be super available to respond. Suffice it to say, though, that I've received an overwhelming amount of responses indicating interest in collaboration. After work today, (4-5 pm EST) I'll start really going through all the messages you guys have send me and shooting off replies. Mods have approved a Google doc so we can all contribute, and a disc chat might be in order, since there are so many of you fucking autists that have reached out. God bless. I'll be in touch soon.*** + +&#x200B; + +Forgot to put strike/date at the top: I'm in September BAC $18 puts. Banks will start failing later this year. It's hard to tell which ones will fail, due to the *shadowy* nature of the *shadow lending* market. That, and the dollar will moon. You want positions spoonfed to you? Fuck off. This post is half food for thought, half explanation. Trying to follow the money here is *hard.* If you're lazy, just buy puts on indices like $INDA and $EWG and $EWY: any country that's loaded up on eurodollars. + +&#x200B; + +Alright, you tards, listen up: this is going to be a long, confusing post. + +&#x200B; + +First off, I'd like to say that I'm not smart. But that doesn't concern me, because you're not smart, either. I just began reading about repo operations a few days ago. I've seen a few posts on here lately remarking on the repo ops, and a lot of misconceptions about what they *are* and what they're intended to *do*. I've learned all of what I'm going to post here from other users on here and from my own research. + +&#x200B; + +The most important thing you need to understand about the repo market is that it's a black box. It's an **interbank loan market** **where securities (ideally bonds) are put up as collateral for short-term cash loans**. The transactions are private and the market usually sets the rates. Repurchase agreements are semantically different from fed repos, but **operate in the exact same way.** This is important. Banks, per federal legislation, are required to keep a minimum amount of cash on hand to prevent liquidity issues. The repo market exists as a way to circumvent these requirements; banks run as close to the reserve requirements as possible to maximize their profitability, and sometimes run below the limit. In this case, the bank posts collateral on the repo market in exchange for liquid cash to meet the requirements again. + +&#x200B; + +In September of last year, the fed was forced to offer hundreds of billions of dollars in repo agreements to banks. This is because the interbank repo interest rate had reached 10% due to liquidity problems. I'm still not sure, and I'm not sure that anyone else is sure, why the liquidity shortage arose, but it did. If I were to hazard a guess, it's because big domestic lenders, sensing volatility abroad, started to pull out of the repo market. Since then, the fed has been, on-and-off, offering repo agreements to large banks (designated banks are called Primary Dealer Banks \[PDBs\]) and they hold a special status and maintain accounts with the fed. Once these PDBs post collateral (again, securities), money (kind of) is transferred temporarily to their fed account. These PDBs then distribute the cash in the interbank repo market (which is anonymous) at a slight profit. The fed repo interest rate was around 1.6%; on Tuesday night, it jumped up to 1.8% because of the emergency demand. + +&#x200B; + +The fed had planned to cut repo ops to 0 by April of this year, essentially weaning the US banking system off of liquidity infusions. This didn't happen. Due to supply chain disruptions and market volatility, the fed was forced to offer several hundred billion in overnight repo agreements this week to PDBs in an effort to maintain liquidity. In fact, this month is set to hit record repo lending balances. Furthermore, the [fed is expecting another $130b](https://www.newyorkfed.org/markets/domestic-market-operations/monetary-policy-implementation/repo-reverse-repo-agreements/repurchase-agreement-operational-details#monthly-summary) to be repaid in the next three weeks, sucking even more liquidity out of the market. + +Edit: The fed was also pondering establishing a standing clearing house for fed repos to smaller entities like hedge funds. Hopefully, they're walking that idea back, because it's a fucking *terrible* one. + +&#x200B; + +Now, here's where I learned I was wrong, and this is a point of confusion for some: **the banks don't need the liquidity for themselves.** They need the liquidity for their *borrowers*. See, these PDBs float money anonymously in the repo market to lots and lots of entities, both domestic and foreign. This is *shadow banking*. Remember when I said the repo market is a black box? Right, well, American banks have been lending money to foreign banks that don't have as stringent of regulations as American ones do. In the US, between two US banks, when a loan is written, some percentage of the loan size must be physically transferred over to the borrower (the reserve amount). Between an American bank and a foreign bank, though, no such requirement exists. + +&#x200B; + +From this discrepancy in regulation, the eurodollar is born. **The eurodollar is imaginary money** that is printed by American banks: when they make a loan to a foreign bank, the loan exists only on the balance sheets. There is no physical manifestation of currency transfer. Consequently, eurodollars get *leveraged to shit*. Instead of the fractional reserve system, the ideal interbank loan system in America, eurodollars can get loaned indefinitely, forever. Eurodollars are paying factory workers, building bridges, and trading as currency. But it's *not* currency. And because eurodollars are what circulate outside the US, real USD are becoming increasingly rare. + +&#x200B; + +You see, the USD has become the de facto global currency. There's a lot of confidence in it. It backs virtually every exchange of goods or services in the world. Right now, though, emerging markets' banks aren't really using it; they're hoarding it. Additionally, they're accepting *awful* collateral in exchange for eurodollars, because they know the USD has intrinsic value and eurodollars are imaginary. Collateral like subprime loans. Sound familiar? It should, because the 08 crisis was global *because of the international monetary system*. The mortgage defaults here at home were just the impetus - just like the supply chain disruptions this year might be. The subprime mortgage scandal was just the scapegoat for the **underlying fragility of the eurodollar system.** + +&#x200B; + +Now, PDBs are aware of this. That's one reason they're starting to become stingier with their lending. They know that their borrowers are accepting garbage collateral in exchange for eurodollars. They know that foreign banks are leveraging themselves up to the tits on *low-grade collateral,* which means, in essence, the fed is, by proxy, making out hundreds of billions in loans to banks in places like India for fucking used car loans instead of treasury bonds. So, say that Shyam over in India can't make his car payments this month because he hasn't worked since the quarantine began. And his neighbors all do the same. Without US liquidity injections, channeled through the PDBs and into the shady repo market, that Indian bank will fail. + +&#x200B; + +Now, that's why it matters that US lenders are pulling out of foreign markets: with supply/manufacturing disruptions and increasing volatility all over the world, foreign banks are direly hurting for liquidity so they can make out loans for businesses and manufacturers and individuals and all sorts of entities. If they don't get this liquidity, they're likely to default. And what happens when these capital groups and small banks die? They default on *their* loans. So on, up the chain. Say JPM takes out $50b against its treasuries from the fed. It then sells that money on the repo market. Eventually, that money finds its way to Yong Jiang over in China, who took out a loan to keep the lights on in the McDonald's Toy factory in Hubei. Well, three months later, sales haven't made up for lost revenue during the quarantine, and Yong Jiang becomes insolvent and defaults on his loan. That default makes its way back up the ladder to JPM. Now, JPM can either default on its loan from the fed (and bonds get dumped on the market) or it can liquidate some of its assets to pay the fed back. + +&#x200B; + +JPM has made this calculation and decided, fuck no, it wants none of that. The problem is, though, that the loan has already been taken out by Yong Jiang. Say Yong Jiang's bank needs some liquidity because Yong defaults. Well, JPM has stopped taking fed repos because of the risk, so there's no money to buy on the market, and Yong's bank fails. This happens dozens of times, across dozens of countries. Pretty soon, the international banking industry faces systemic collapse. For reference, the global repo market [is valued at $12T](https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=3&ved=2ahUKEwjqgof02IToAhXwm-AKHY3rA8gQFjACegQICxAF&url=https%3A%2F%2Fwww.bis.org%2Fpubl%2Fcgfs59.pdf&usg=AOvVaw21Jay8zD6uNqWJcspNvCXa) USD, and only 3/4 of it is backed by "pristine collateral" - government bonds. **That means that $3T of it is in equities or derivatives.** The fed's balance sheet is only *$4T* USD in comparison. Additionally, $.5T is in private capital groups, which are entirely opaque and likely have rotten fucking lending standards. No way to see who they're lending to, or what collateral they're taking. + +&#x200B; + +We're already seeing this beginning: [India's Yes Bank is about to be nationalized](https://www.bloomberg.com/news/articles/2020-03-05/india-s-central-bank-to-seize-yes-bank-to-help-revive-lender) due to, you guessed it, *liquidity* problems. It's been involved in shadow lending practices, and American liquidity is starting to dry up across the world. China is also heavily dependent on eurodollars, but I'm not sure how that relationship will shake out. Their economy might be so big and so vital that we're forced to prop them up. If not, China's banking system will go tits up, too. + +&#x200B; + +The question then becomes, is the fed willing and able to meet global liquidity demands? And beyond this, how do they force PDBs to keep printing eurodollars and continue to assume risk, risk which may violate their fiduciary obligation to shareholders? Trillion-dollar question. + +&#x200B; + +So, what does all this mean? Who can we short? Honestly, this is hard to say. Personally, I have september puts on BAC for $18, and I'm still looking for anyone else who might be vulnerable. Any of the PDBs with accounts at the fed might be at risk. I'm going to start hunting for SE Asian, African, and South American banks that've been taking repo money. Those are likely to be the most probable to fail. On top of that, as banks start dropping like flies and the global economy tanks, the USD is going to fucking \*moon\*. That's a worthwhile bet, too. The issue here is that the repo market is anonymous, so it's hard to follow the money. If anyone has any recommendations for specific banks or lending groups to target or look into more, please feel free to let me know. + +&#x200B; + +If the global banking industry started to fail, though, look for it to hit full swing later this year. This is going to be driven by large amounts of defaults that will be spurred by the manufacturing disruptions, the extent of which won't be fully felt until at least midway through this year. Add a few months for missed loan payments, and I'm wagering that you'll see banks start *really* failing by August or September. + +&#x200B; + +There's a lot here I'm going to continue to research, and if there's anything I've gotten wrong or anything you'd like to add, please speak up and correct me/educate me. + +&#x200B; + +Special thanks to: + +u/Psicopro, u/farisbuellerRULES, u/FlexMcgooch, u/meritorius_demotion, and every other fucking angel who answered my stupid goddamn questions and let me bounce ideas off of them + +This is a good sub, guys; embrace cooperation and weaponize your collective autism + +&#x200B; + +Edit: For further reading, check out Jeff Snider. He's a macro economist who's been shrieking about this for years. + +&#x200B; + +Edit 2: thanks for the positive responses and the awards, guys! Please, let me know if you find anything related to these repo market participants, either in the comments or (preferably) in a DM. I'll either update this post or write an updated DD. Cheers. + +&#x200B; + +Edit 3: list of vulnerable recommended banks from the comments - Bank of East Asia, HDB, IBN (both in India) - keep em coming, guys + +&#x200B; + +Edit 4: this blew up even more than I expected. I'm likely going to repost this over the weekend with more information and more citations, and I'm considering the possibility of opening up a google doc to aggregate research into vulnerable banks. Hit me up in my chat if you've got relevant information on this, or if you'd like to talk about the possibility of collaborating. I'm not sure how risky it would be to pool research like this, but I'm fascinated by the idea of crowdsourcing the work to identify the weak points in the international banking system. +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! + +What are your thoughts on using QYLD to max Roth IRA contributions and auto invest? + +Purchase ~$60k of QYLD in a brokerage to generate ~$500 monthly. >>> +Set up a monthly $500 auto transfer to Roth IRA. >>> +Setup index fund auto investments in Roth IRA and never think about it until you retire. +I live in SF City, and I see a lot of money printing businesses like restaurants and bars. They're immensely popular, highly crowded (even during weekdays), provide amazing experience, and charge premium price. +I'd love to invest in them if I could do so at an attractive price. If you've invested in similar businesses, how's your experience been? How did you do it? What are the major risks that you've faced? +Pretty much what title says at 18 y/o my parents are kicking me out which is in a few days. I have 100 dollers and a car so im not sure what to do. Any financial advice that would help me start out? Thanks for any info! +Since I've started investing I've had much less interest in buying shit I don't really need like shoes, clothes, random stuff for the apartment, etc., as most of my focus has been on what stock to buy next and how much extra funds I have to put towards it. Now with that extra money I'd much rather buy another share or put it towards my Roth. I'm still planning vacations and enjoying life. Just a fun random thing I was thinking about while bored at work. +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! + +Defi is replacing traditional financing, in this use-case, film financing. + +website: [VooDooBikerGang.com](https://voodoobikergang.com/) + +Actors cast in the movie will promote the movie AND the token! + +Token address: + +0x2E86A090050Ea7B36d55963E194F893cCc173fD7 + +"movie budget" wallet instead of a dev wallet funds the movie + +Tokenomics: 10% transaction tax, 5% back to holders, 4% towards liquidity, 1% back to next movie! + +Action-horror film 'Voo Doo Biker Gangs' will be the first movie of a trilogy, and as the MC grows, more films will be made. This utility case token, with dev's 25 year Hollywood career, can become a virtual movie studio worth billions. By reducing middle men, films are shot less expensively and distributed immediately on Netflix, Amazon Prime, HBOmax, Hulu, and Apple TV. (Stevie Long, the dev, has had movies and shows on all of these streamers, and after the covid shutdown, streamers are all begging for new movies to compete with one another) + +Doxxed dev: Stevie Long (writer/producer/dev) + +The token owns the IP (intellectual property) of each film/franchise, which it then sells directly or licenses to show on a streamer. Profits from the film are put back into the token via lump purchases! + +Tired of rugs? I am the doxxed dev! Look me up on google, [imdb.com](https://imdb.com/), or read my reddit history! + +Dev is ALWAYS in the TG answering questions: [https://t.me/VooDooBikerGang](https://t.me/VooDooBikerGang) + +COIN GECKO LISTING ANY DAY + +Bags will grow quickly as the MC moons, as the bull market coincides with our production schedule! CASTING NOW so the actors will be promoting soon and when cameras roll, even more real-world promotion! + +And of course, feel free to join us on the movie set! +*I posted this yesterday but it was removed by reddit because I said the website of the scam. Now I repost it without any information so please don't ask for it. Anyway the website is now deleted so you can't see anything.* + + I own a telegram group where this morning an user entered telling everyone to be quick because today it was starting the private sale of a new coin. + +I looked at its website and it was clearly made by an amateur. It's whitepaper was a joke. + +However, the devs officially doxxed themselves and most users in their "official" telegram group were starting to believe in this scam. + +I noticed some users were clearly fake, saying things like "I follow this project since 1 year and it's amazing" but I checked and the **group was created just few days ago so how they were following this project since 1 year ago?** + +I then decided to **contact on LinkedIn the 2 official admins of the project**. They both answered me that they had nothing to do with it and clearly someone took their names and photos and posted them on that website. + +45 minutes were remaining before the private sale would start. By the way, the private sale was going to work in this way: they would publish a bsc address and everyone had to send bnb at that address. In exchange they would receive back 2000 of these new tokens. + +I posted in their group that admins were liars and that the people listed in the official website were not related to this project in any way. + +They accused me of fud, I had no proofs. Also they were deleting most of my messages. + +**Then I tried what I thought was impossible, because only the worst amateur would make such a mistake: I did a whois of the domain of their website** and found out the website was created just 2 days ago, and I found the name and the address of the owner. This guy didn't even think to hide it properly. + +**At this point it was just few minutes before the official launch of the private sale. I simply posted in the group the name and the home address of the scammer and then "if anyone will be scammed, just give this name to the police"** + +Admins abandoned the group immediately, countdown went to 0 but no private sale started. They literally disappeared and they had no opportunity to scam anyone. + +Obviously they were amateurs, it's harder with professional scammers, but I'm proud that I destroyed the plan of these scammers who invested money and time in creating their website and preparing this scam. +I've been bad with savings since as long as I can remember. And having a 4 month old doesn't help either but this is a positive start + + +Edit: gotta say I didn't think this would get as much attention as it did. Thanks guys/girls! + +Edit 2: thanks for all the support! I feel like if I had posted this in other finance subs it would've gotten buried but you guys/girls understand because we're all living it! I'm really starting to love this sub. + +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 still don’t know which one to pick. + +I get it, msci world is more diversified, thus it is safer. + +However the sp500 is also diversified, with companies that are active globally. + +In addition the annual fee is less for the sp500. + +In the last 5 years the sp500 grew 30% more than msci world which is huge. + +As i don’t think sp500 is 30% more risky than msci world, i am leaning towards the sp500. + +Change my mind. +Today there was another [post](https://www.reddit.com/r/eupersonalfinance/comments/i5vxsw/should_i_include_the_emergency_fund_when/) asking if an emergency fund should be included in the asset allocation and it popped another question in my mind, how much do you usually save in order to consider the emergency fund secure enough, as most information on the internet is based out of the US, which has a social security structure which is very different compared to the EU. + +I live in Germany with a fairly stable job and contract, in case of contract termination the government also secures a fair portion of the salary as unemployment support. Currently, I am aiming for 1 year of fundamental expenses in my emergency fund but would love to hear other opinions. +Given that there is ample empirical evidence (most notably from Ben Felix, probably) that dividends are irrelevant and that dividend portfolios underperform the market and carry extra risk and tax implications, what are some reasons that people still focus on them? + +Are they all psychological? Are most people here in the post-accumulation phase and relying on income? +As the year comes to an end, I want to thank the Ethereum foundation, Vitalik and the countless developers for their daily effort to make all of this happen. + +I’m truly humbled that I “own” a piece of this world changing project and that I’m an early participant and part of it. + +When I look back to the beginning of 2017 it feels like a distant past not just mere months. +And it was one hell of a ride. + +I’m looking forward to 2018 with all of you and I’m thankful for everything ETH has already given me. + +Let’s not be greedy and chase Pumps&Dumps, let's find our own moon /r/ethtrader! + + It’s not always about Lambos or Teslas, if ETH can make you debt free, make a downpayment to your dreamhouse or pay for college, that’s when you found your personal moon! + +*skYY7* + +I recently refinanced to westpac and its the worst lender by far amongst the 5 i've dealt with in 10 years. + +1- Me & Wife had to visit the branch to apply for loan as personal identification was required + + +2- The we were both asked to visit again because their online system was not showing the documents we already submitted + + +3- Then we are asked to visit again to identify when we opened the offset account + + +4- Then they mixed my personal money & investment money in same account which had made interest deductability near impossible. They are unwilling to fix it. I made a separate post on it on ausfinane. + + +5- Today i made a first transfer to selfwealth ... westpac marked it as suspicious and blocked my online banking... When i called them, they said there is no way they can unblock it .. unless i Personally visit the branch again . The call center person dropped the call when i asked to talk to someone senior + +Is this enough of a case for me to go to financial obdusman ? What are my other options here. Me & Wife are both working full time and can't keep visiting their branch in business hours. +So record low interest rates, record high asset prices, inflation begins to creep up while wage growth is stagnant and energy prices squeeze minimal disposable income. Supply chain issues are causing supply chaos during an unprecedented global pandemic, adding to inflation on essential goods & services. My question is where are we heading? It seems, nationally and globally, we stuck between a rock and a hard place and something has to give. +As someone who’s recently made a significant amount of money in a very short period of time, most of my friends are still grinding away at their jobs. While I have a few friends who are happy for me, I feel that many of my friendships have worsened or grown distant. + +Topics that aren’t directly related to wealth get misinterpreted as having to deal with money, and I can see people being upset, stressed, or disappointed at themselves as they compare themselves against me. I’ve always been generous, but now it feels harder to have people over or treat certain friends to meals. I avoid talking about money at all now, but the reality is that I’m proud of my success and it sucks that I can’t share it with anyone except for my wife because it would upset others. How do you all handle these situations? +Money is being moved out quickly and swapped. Messages sent in eth domains from the hackers. There is an update for all the apps as well. + +The important thing is that you do not update the app. None of the fTX related apps. + +It's in your interest to delete them and be very cautious. + +People's balances are being deleted and some big things are happening. No clue how this will end or where this originated from. It might be an inside job or a state actor. Who knows. Aspects of this hack are sloppy and other parts are very planned out. + +So again DO NOT UPDATE FTX APPS!!!!!! You might lose a lot more! + + +Edit: id also recommend people monitor any connected bank accounts or debit/credit cards for the next few months. And use credit karma to make sure no new cc have opened under your name. We don't know what customer data was stollen. + +edit: UPDATE. My bank account has been accessed by FTX using Plaid today. Please please remove FTX from accessing your account https://twitter.com/mikemcg0/status/1591477400634023938 + +I was able to remove access by going into my chase app +I’m sure by now most of you have seen yourselves, heard, or even been banned from bets for GME related talk. A lot of you are clearly very upset, and have even stated your intent to brigade the sub and wear the ban as a badge of honor. These apes are going to get our sub shut down. + +This whole saga has given many of you main character syndrome. Yes, a lot of bad actors ARE out to get you. But that doesn’t mean everyone is. We have our own sub dedicated to everything GameStop. We have our own set of rules on how we operate, and we expect them to be followed. Their sub is no different. If they no longer wish to discuss gme, then they are well within their right. We have an entire subreddit to ourselves, and we welcome new apes every day. We don’t *need* to brigade over there. They’ll come to us if they want. + +I just finished listening to their talk, and the mods answered 2 hours of questions and had a very civil discussion regarding the matter. They don’t hate GME. They simply want to discuss other tickers without apes bombarding the comments with emojis. It damages their content and makes people want to leave. + +Remember what it means to be an ape. Take the high road, be kind, and be like RC: silent. + +Last but not least, BUY HODL DRS +I mean, this stock breaks all common sense in investing. Im averaging up as each day passes and i still feel its a bargain everytime i hit that sweet buy order button. + +As time has passed since january i have gradually converted my portfolio into a 100% GME based one. In the beginning it felt a bit risky, but for every great DD i read, it calmed my nerves some more and i honestly felt some FOMO and just had to buy and hold more to not miss out. + +Nowadays i’m so zen that there are days when i don’t even check the live ticker. And since i have a price alert set at 50k it is in itself soothing, since the current price is just not right (the price alert is not for selling obviously since it is nowhere near the floor, but for cracking a cold one and getting ready for some real action). + +Does this mean i have completed my evolution into a true ape? + +Edit: Yes, this is partially a repost from a post i made from a couple of months ago from r/gme (this was unfortunately one day before the great forum slide) +I have added some text to further describe my current feeling. +Feel free to downvote this as im not interested in karma but i wanna spark a conversation making other apes have a forum that can spread zen or helping apes cope with their stress. There is no need for calling me bad things and lashing out your inner rage at me... + +If you want me to delete this, i gladly will, but just be civil about it please. +Yesterday ATOS drug was cleared from the Phase 2 FDA study because the results were so freaking overwhelmingly good. Here is the article: + +[https://www.globenewswire.com/news-release/2021/02/02/2168338/0/en/Atossa-Therapeutics-Phase-2-Endoxifen-Breast-Cancer-Study-Produces-Substantially-Positive-Results-Allowing-Study-to-be-Halted-Early.html](https://www.globenewswire.com/news-release/2021/02/02/2168338/0/en/Atossa-Therapeutics-Phase-2-Endoxifen-Breast-Cancer-Study-Produces-Substantially-Positive-Results-Allowing-Study-to-be-Halted-Early.html) + +Today another article came out, they did a check up on a patient who was probably going to die 2 years ago (they don't allow these types of experiments otherwise usually), so they gave her the drug to "test" it on her, she was going to die anyway type of thing. 2 years later, and she's alive and doing fine. Article: + +[https://www.globenewswire.com/news-release/2021/02/03/2169192/0/en/Atossa-Therapeutics-Announces-Two-Year-Update-of-FDA-Approved-Expanded-Access-Treatment-with-Endoxifen.html](https://www.globenewswire.com/news-release/2021/02/03/2169192/0/en/Atossa-Therapeutics-Announces-Two-Year-Update-of-FDA-Approved-Expanded-Access-Treatment-with-Endoxifen.html) + +The news did not hit the mainstream outlets yet, I think this stock has a lot of potential, I mean... Overall, any company that heals breast cancer probably has a lot of potential lol + +&#x200B; + +**Edit:** Someone asked me where the article says that the lady was going to die, it does not, it's an assumption of mine. Because the only way to get into the FDA compassionate use program (Expanded Access) is ONLY if you fall under these categories: + +* Patient has a serious disease or condition, or whose life is immediately threatened by their disease or condition. +* There is no comparable or satisfactory alternative therapy to diagnose, monitor, or treat the disease or condition. +* Patient enrollment in a clinical trial is not possible. +* Potential patient benefit justifies the potential risks of treatment. +* Providing the investigational medical product will not interfere with investigational trials that could support a medical product’s development or marketing approval for the treatment indication. + +Source: [https://www.fda.gov/news-events/public-health-focus/expanded-access](https://www.fda.gov/news-events/public-health-focus/expanded-access) + +&#x200B; + +**Edit #2:** I didn't expect this to get more than 10 likes... Dang. Thank you guys for the awards. I want to be clear that I'm not a financial advisor, I posted this when the price of the stock was at about 3.20 and it later dipped to 3.05. You are responsible to pull your money out in case the stock begins to go down. Though, our fingers are crossed for the moon ofc :P + + +**Edit #3:** First gold, dang, thank you kind stranger! Stay green guys, **set stop losses**, pharma industry is unpredictable! Love you guys, hope you all bank :) +It's been a rough 9 months. I got behind on some credit card payments (2 are about to be sold to collections but I can't afford to pay the $500 minimum balances on them) and I was constantly overdrafting my checking account just to keep food in my fridge. Now thanks to some really strict budgeting and a reality check of my credit score (hello 499 score) I was able to pay all my bills that are due the first half this month and still walk away with $100 in my checking account. After my next check on the 15th and paying my bills I will hopefully have $300 left by October 31st! Thank you povertyfinance for getting me through these 9 months. +Via u/wzi: + +It's for ***businesses.*** Transfers to the business, reported by the business \[[1](https://home.treasury.gov/system/files/136/The-American-Families-Plan-Tax-Compliance-Agenda.pdf)\]\[[2](https://home.treasury.gov/news/press-releases/jy0188)\]: + +>This is why the President’s proposal includes additional resources for the IRS to address the growth of cryptoassets. Despite constituting a relatively small portion of business income today, cryptocurrency transactions are likely to rise in importance in the next decade, especially in the presence of a broad-based financial account reporting regime. Within the context of the new financial account reporting regime, cryptocurrencies and cryptoasset exchange accounts and payment service accounts that accept cryptocurrencies would be covered. Further, as with cash transactions, businesses that receive cryptoassets with a fair market value of more than $10,000 would also be reported on. Although cryptocurrency is a small share of current business transactions, such comprehensive reporting is necessary to minimize the incentives and opportunity to shift income out of the new information reporting regime. + +See §IV.B. + +Edit: Seeing a lot of "they won't catch me" posts. In the US if you're dealing with hundreds, or even thousands in gains, no they probably won't and probably won't care. If you find yourself with tens of thousands and more, someone will likely notice and you'll be lucky if you don't lose it all. I suggest you have a serious plan for what to do if you run into phat gainz. The easiest choice is to just join the rest of us schmucks, pay your taxes, and participate in elections at all scales. +Just made a couple hundred bucks this week with the wheel... I feel like a genius lol. + +I’m just wondering what the wheel is going to look like during the inevitable downturn + +1) I’m guessing I’m going to get assigned on the vast majority of my positions, which will fall further. Many of them I bet will fall so far that I won‘t be able to sell covered calls on them. What do I do? Just wait? + + 2) Any other guidelines? The wheel (and reddit) have only been around for a short period so unfortunately actual experience is slim. +HI. See the link to Criand's DD at the bottom of the text. A quick excerpt of what I read was a little eerie with the Fed having bailed out the banks in the 2019 fiasco ([https://www.reddit.com/r/Superstonk/comments/s7wai4/the\_reason\_there\_is\_a\_news\_blackout\_of\_the\_feds/](https://www.reddit.com/r/Superstonk/comments/s7wai4/the_reason_there_is_a_news_blackout_of_the_feds/)). + +*"It's not a fight against Melvin / Citadel / Point72.* ***It's a battle against the entire financial world****. There is even speculation from multiple people that the Fed is even being complicit right now in helping suppress GameStop.* ***Their whole game is at risk here."*** + +It has now been proven that the Fed is complicit in this malarkey. Please re-read in your spare time. And if you've not read it before, perhaps give a glance. + +Don't know about you, but that seems fucking creepy. Make of this what you will. I would love to discuss with any and all of you. + +[https://www.reddit.com/r/Superstonk/comments/o0scoy/the\_bigger\_short\_how\_2008\_is\_repeating\_at\_a\_much/](https://www.reddit.com/r/Superstonk/comments/o0scoy/the_bigger_short_how_2008_is_repeating_at_a_much/) +I grew up from an immigrant low income family. I’m in my 30s now with two small kids and living in a VHCOL city and make great money. On track to low end fat fire. + +At work, I am exposed to lots of wealthy people. We go out on trips for entertaining clients. They talk about golfing, their cottages, boating/sailing, ski vacations, playing high level sports, private schools etc. Growing up, I wasn’t exposed to much extracurricular except for math/music classes. We did local road trip vacations, inexpensive takeout on special occasions, no private school etc. I find I can’t relate to these people but my colleagues who grew up in that environment do and quickly bond over those topics. They are more successful with those C suite people who have that similar upbringing whereas I can only connect with the people on the lower end of the company hierarchy. + +I was intending to raise my kids without spoiling them to know the value of money. Similar to the immigrant upbringing I went through. But I’m considering if I should start getting them into these hobbies that wealthy people do. There is something to be had with being apart of that circle that can help you be successful in the future that I am noticing now. + +Have any fatfire members gone through this before? +The latest [UK regional house prices](https://www.gov.uk/government/statistical-data-sets/uk-house-price-index-data-downloads-december-2020) were recently updated to give the average property prices as of Dec 2020. This should account for the recent CGT inspired boom. + +I put this data into Tableau and created a simple tool where you can enter your income, deposit and the property type, then the tool will tell you which parts of the UK you can (or cannot) afford to buy! + +[https://tarsolutions.co.uk/blog/uk-house-affordability-calculator/](https://tarsolutions.co.uk/blog/uk-house-affordability-calculator/) +APES! + +The price you see on your broker is the average price between the bid and the ask. The bid is set by the buyers and the ask is set by the sellers. The market makers (Shitadel and others) make their money on the difference. The more liquid a security (which GME isn't at all, hence the extremely low volume and blatant manipulation) the tighter the spread between the Bid and the Ask. Below is an example of GME's spread from today. + +&#x200B; + +[This is the bid and ask, but on your watchlist it would say the price is $155.29 because it's in the middle of the two.](https://preview.redd.it/09x8ct2gget61.jpg?width=1125&format=pjpg&auto=webp&s=ad353c9192f43c7a4c50abfccb09c2795ec8f370) + +When you go to sell on Robinhood and other "user friendly" brokers, the order type you're executing by default is a market order. If you sell a market order it will fill at the BID price, NOT the price you see in your watchlist. This usually doesn't matter as much if you don't care about the pennies, but when this blows and GME is trading at $1,000,000, who knows what the spread will be. It wouldn't be unrealistic to think the Ask could be $1,020,000 and the Bid as $980,000 which would look like the price is trading at $1,000,000. When the hedge funds get margin called, they are placing huge market buy orders which fill on the ask. Why would you sell at the Bid when you know these criminals have to buy on the Ask? Selling using a market order will not hinder the squeeze, but it will eat at some of your potential gains; and I don't know about you but I am sucking these motherfuckers dry. + +&#x200B; + +I will see you all on the moon my friends. It is inevitable. + +Not a financial advisor and this isn't financial advice. + + +El Salvador, the only country in which bitcoin is a legal tender, is going to build an entire city based on the largest cryptocurrency, President Nayib Bukele said in a Saturday night presentation at Bitcoin Week in El Salvador. + +“Bitcoin City” will be located along the Gulf of Fonseca near a volcano. The government plans on locating a power plant by the volcano to provide energy for both the city and bitcoin mining, the president said. + +According to Bukele, Bitcoin City will be a full-fledged metropolis with residential and commercial areas, restaurants, an airport as well as a port and rail service. The city will be laid out in a circle (like a coin) and in the city center will be a plaza that will be host to a huge bitcoin symbol. The city will have no income, property, capital gains or payroll taxes. + +Bukele also said El Salvador plans on issuing $1 billion US “bitcoin bond,” a tokenized financial instrument developed by Blockstream, on the Liquid Network. Of that amount, $500 million will be used to help construct needed energy and bitcoin mining infrastructure and $500 million to buy even more bitcoin. At the cryptocurrency’s recent trading price of about $59,000, that would bring the country’s treasury stash to just under 2,000 bitcoins. + +&#x200B; + +[https://www.coindesk.com/business/2021/11/21/el-salvador-to-create-bitcoin-city-use-500m-of-planned-1b-bond-offering-to-buy-more-crypto/](https://www.coindesk.com/business/2021/11/21/el-salvador-to-create-bitcoin-city-use-500m-of-planned-1b-bond-offering-to-buy-more-crypto/) +Pretty much the title. It’s a nice, 2 bedroom apartment in Sydney. We got a 1 year lease at $650/wk that has now gone up to $880/wk. we didn’t expect such a huge increase. This is my first time dealing with such a matter, does anyone have any advice? +So, as the title says, last night, I received 500$ posted into my bank via Zelle. I immediately called both PNC and Zelle this morning, frantic someone had hacked into my account and I was about to become a victim of a scam (I’m aware it was a deposit to my account and NOT a withdrawal, but still). + +They calmed me and said my bank information was not stolen nor am I at any fault. If I felt better, I could dispute this and get reissued a new bank card. I asked if they could simply reverse the transaction in which Zelle said no and PNC said I could dispute it. Both had warned me while the money is legitimate, I could be part of a scam in which money is sent to my account “by accident” and then I receive a text or phone call from the sender for the money back via Zelle in which they could get my bank information that way. + +I asked for my rights and they let me know I’m at no fault, to never accept someone asking for the money back and to guide them to speak with their bank, and even then, I am not obligated to send money back. + +Fast forward to 20 minutes ago. Two different numbers reached out to me regarding the money. One number with my area code claimed their female friend got the number off by 1 digit and the other had a NY area code said HE needed that money to pay his rent. + +I’m going to type both of them a message I feel uncomfortable returning money through a third party app and will politely request they dispute with their bank or credit union. Did I do everything correctly? Am I being too paranoid about this whole thing? Any other steps I should be taking to protect myself? + +Please let me know! + +EDIT + +I commented on the post a while ago, but I deleted both numbers and will not reach out to them whatsoever. You’re right that they will contact the bank IF this is not a scam. Just like I did when I saw the deposit. + +As much as the money may seem like a blessing in disguise, all those stories I just read online about people getting “free money” only for their spending it all to bite back made me nervous I could be in that same position and if this IS an accident, this is their money, not mine, and I want to make sure they get their money back through dispute filed through the bank and not just through some money transfer app. + +(Though my fortune cookie did say I’d gain financial prosperity. I just thought I’d get more overtime and my quarter bonus or a raise or I won a scholarship for CSU or the 2nd stimulus check was gonna happen or something.) + +So the money will sit there untouched and hopefully either gets claimed by the right person or by the bank or in some weird way down the line, I get to keep it. Probably not. But I’ll do nothing in the mean time except speak to the bank about any extra security measures I can take on my account and continue to daily check my bank account for unsolicited withdrawals. Thanks for the advice all of you. + +P. S. Sorry my post is from such a common question that gets on here. Someone remarked this is a popular question on this subreddit/popular scam, I believe. I should’ve looked before I posted and taken advice from there. So, sorry for the repetition to anyone annoyed. That’s my bad. Sorry again. + +EDIT 2 + +To those who are calling me names or verifying this is a scam, this was not what I’m asking. I was asking IF I followed the right steps and any other recommendations. I just want suggestions if I missed anything. +The fact that all news sources have pointed the finger at retail investors is horrifying. How in god names would they have enough money to make a company bigger than Disney? I bet this will get swept under the rug, but I don’t want it to. What can we do about it? + +Edit: English not stonk +I work for a small company of about 30 people. In October of 2020 I received a raise to put me at $65,000 as well as a bonus of $5,000. My employer told me “I want you to for sure have made 6 figures by this time next year, and if that’s not the case then come talk to me”. Since then I have not received any additional bonuses or pay increases. + +I know that management thinks I am an extremely valuable asset to them, and it would be a pain to them if they were to lose me. My manager told me during my promotion “if you ever ever consider leaving, come talk to us first, we don’t want to lose you”. + +Our company has always been extremely good about compensation and nobody who works here has ever felt wronged by them. I am planning to talk with my manager at the start of September and bring up our conversation from what will be 11 months prior. + +Similar positions at competing companies within my industry pay more in the range of $120,000. I am planning on bringing up the fact that I could be paid more elsewhere, but have also considered interviewing for another position to use that as leverage in my discussion. However I truly love my current company’s culture and people too much to actually leave. + +Does anyone have advice for points that I should go into the meeting with, and any raise talk advice in general? Any help is greatly appreciated. +So I was having a look at the premium you would get if I was to sell a put contract with a strike price of $1,150 that expires 1/19/2024. The premium would be worth $42,600 + +I think my break even price would be $724 per share before I would make a loss. + +If left to expire and not be called I would gain around 37% ROI + +Interested in hearing pros and cons to this. +Guys, thank you for giving me even more conviction that we are on the right track. + +If we weren't on the right track, we would've been left to fuck ourselves long time ago. + +We knew they were going to attack our sub. +We knew they were going to try and scare us away. +We knew things were going to get uglier before they got prettier. + +We are at a point of the biggest drama ever encountered in this sub (yet). Which couldn't possibly get me more jacked. + +On Monday I'm buying more. + +So drop it a little more, will you? + +Every single move that you believe is steering me away, is even more confirmation that I'm doing the right thing. +And I KNOW there are thousands more like me. + +You done fucked up Kenny. I can stay in my shitty job longer than you can keep this charade going. + +Pay up. You've lost. +Hey guys! I’m a fintech enthusiast currently living in the US, I have my US account which I plan on keeping and a number of NEO banks or digital banks which are available in both the U.S and Europe -Wise, Revolut etc. + +I will be moving to the Netherlands this summer for graduate school and I hope to stay for a few more years to work. Dutch back accounts don’t have great interest rates (not that the online banks have great ones either), but I’m wondering is it worth it to open an account at a Dutch bank or would you recommend I just stick with one of the digital banks I already have? +Looking to go to northern VA near DC, MD area I make about 150k a yr and have saved 80k. I would like to get a nice duplex but there are none in my area since im not in a city or they are near a million dollars. What is the best strategy for how much I should put down? What is my price range I can afford? Can I be looking at multiple properties with what i have? If not what is the benchmark? I know the market is in shambles right now but not sure if I should wait.. + +80k is 20% of 400k but I've been looking in the 650k range right now..should I put 20% down or maye do like 10% and get 2 places? +I get the meme appeal of people buying DOGE and SHIBA because Elon shills them but there are now a ton of animal clone coins people are pump and dumping while some good defi projects get ignored. I'm not trying to hate on Doge SHIBA or other joke coins, if you make profit on them good for you. I’m just trying to say we can support strong projects which are trying to build a system which can replace apps like robinhood and help crypto grow and gain adoption. +This article mentions several good defi projects which are actively building useful things for the future. It's worth checking out some of the stuff people are building as well as meme coins. +https://www.entrepreneur.com/article/366075 +EIP 958, posted on GitHub by Ethereum core developer Piper Merriam, formally proposes that improved ASIC resistance be implemented into the network’s instance of Ethash, a Proof-of-Work (PoW) consensus algorithm.[ccn.com](https://www.ccn.com/ethereum-developer-opens-eip-to-discuss-bricking-ethash-asic-miners/) +I was hoping it wouldn't come to this point but apparently I have no other recourse but to post here and warn others of doing business with Kraken. I have literally been trying to get money out of Kraken for over a month. They use some withdrawal provider for USD called "synapse pay". These guys have complete control over how much money one can withdraw, so even if you are verified "tier 4" and send over everything including a tax return, SSN, drivers license etc. they can still at their whim decide that you don't make enough FROM OTHER INCOME to remove your funds from their exchange. When I asked why my wires were failing (after I managed to troubleshoot myself what my actual imposed limit by synapse pay was because my previous wires were failing), I received this response: + +>David (Kraken Support) +>Jun 6, 19:25 PDT + +>Unfortunately, our third payment processor Synapse has set limits that are consistent with banking regulations. They require the funds to come from employment earnings, and many times, they do not accept trading earnings. Since you have already submitted a tax return, you will have to submit another source of earnings (inheritance, investment account, sale of a house, ect). If you have additional documentation, please let me know. + +>Sincerely, + +>David +>Client Engagement + + + +*What. the. fuck.* +So, like many of us here, I drive a pretty beat up car. It's fourteen years old, over 200k miles, but dammit it runs well and the radio's loud so I love it. It has a few dings and scratches and the check engine light won't go off (coolant sensor, not an actual coolant problem), so I'm used to ignoring little problems. + +Don't ignore little problems. + +This weekend I was pulled over. The cop said, "So I have about three different things to ask you about, but it's all related to the one thing. Did you know your tail light is out?" No I didn't, but I wasn't surprised. He asked for my insurance, which I have the app for on my phone... and the damn thing didn't remember my password and neither did I. So I had no immediate proof of insurance, a big no-no. I have since rectified that (hey folks, put a screenshot of it in your photo folder or State Farm has an extra little gadget you can put on your phone's home screen just for such an occasion). The cop just ran my driving record to make sure I'd never been cited for driving with no insurance while I thanked God I never got pulled over during the year I did so a few years back (not recommended, it saved a few bucks but was awful for my anxiety and would have been catastrophic in an emergency). + +He let me go with a warning to get my tail light fixed and my insurance card up to snuff, and went on his way. I immediately drove my butt to NAPA and put a new tail light in for $1.38. + +As I was putting it in, I realized that I am incredibly lucky. I have a good driving record, and wasn't committing any real infractions (I was even signalling, though he couldn't see it). Any of those things otherwise could easily have ruined my day, or my driving record. It happens all the time. + +Keep an eye on the little things. Don't ignore them. Keep yourself healthy, folks. + +Edited to remove unintentionally incendiary topic. Folks, I only put this up as a friendly reminder to keep up on the details because they snowball so very easily. I know I dodged a bullet, and have since learned that I can't trust a phone app. I'll be fixing the paper copy situation tonight. If this helps a few people remember to get the new copy of their insurance printed or maybe that minor piece of maintenance taken care of that's been put off, then I'm happy. +So, from the latest Franklin update mail: + +"With this announcement, the schemes will be able to actively monetize assets through various modes including prepayments and secondary market sales. This should help accelerate the monetization process earlier than the dates mentioned in the maturity profile document. We look forward to providing all assistance and cooperation to SBI to monetize the assets." + +They seems to be making clear that it is SBI, not them, who are doing this. So, does that mean Franklin has no decision making power anymore?! + +In any case, I guess we are looking at losses. +I was browsing for properties and came across this listing: [.22 acres of "vacant" land in Oakland, CA for $59K](https://www.landflip.com/land/265986). I couldn't find property on the county parcel search website using the parcel number referenced in the pictures. After searching the address online, [I found out its not vacant, but is indeed a SFH](https://www.realtor.com/realestateandhomes-detail/4861-Geranium-Pl_Oakland_CA_94619_M19014-61871). + +&#x200B; + +OK, whatever, I thought. I decided to research the website and company. [It turns out real people have been scammed out of their hard earned $$ by these guys.](https://www.bbb.org/us/ca/encinitas/profile/real-estate/rural-vacant-land-1126-172021318/complaints) + +&#x200B; + +How is this legal, and why aren't these people in jail? It's an obvious scam. +I’ve got a tenant in North Carolina who hasn’t payed rent in months. Claims she got Corona like 3 times, and just lies and makes excuses. She’s been living in my house now for free because I can’t evict her due to eviction moratoriums! (According to my property manager) And now Biden is claiming they will have a moratorium until September 2021?? + +Really frustrating. Is there anything I can do? + +If anything, it feels nice to at least commiserate with other landlords who might be going through a similar situation. +What the fuck happened? This used to be a sub full of different opinions, you could tell people that you think they've drunk away what little brain cells they had left when they post stupid DD that isn't even DD. Now it's like r/politics , an endless circle jerk over how "The hedge funds will bleed". I don't give a shit about your cause, I just want to make tendies and that's what this sub used to be all about. Now the only content is: GME, GME, Short, "haha Elon twitter go woosh". Low-quality bullshit content barely worthy of r/funny. What happened to the likes of JNUG? + +Look, I know the game is rigged, we all fucking know that. But this is deranged and has strayed too far from what this sub used to be all about, those sweet tendies. I might sound like your wife's boyfriend when I tell you this, but we have to stop this pyramid scheme level of group thinking delusion. + +DD, good memes and both gain and loss porn are getting smothered in a sea of GME-truthing posts. I think I speak not just for myself but for many other long time members of the sub when i say this: + +We need to stop circlejerking over one stock and go back being retarded over many stocks/options/gourd futures etc. Have you even heard of JNUG? + +Therefore i propose a ban of all GME content that isn't proper DD or memes. + +TL:DR GME 1000C or 1P I don't care, I just want this subreddit back. + + +Also: Know what JNUG is or ban +So, im 20 years old. I have enough in my savings to buy myself a decent camper trailer and a truck good enough to pull it. +It would be all i own, plus a 2 year living expense buffer. + +Ive have recently started to see profit on a website i run, but i am unable to give it the attention it needs to grow as im working 90% of the time. + +If i quit my job, i would live in this situation full time for a few years to save money and work on my own ventures and goals. And the freedom it would give me would be priceless to me. + +Any thoughts or problems i maybe havent considered would be appriciated! +Charles Payne is talking about how wall street is throwing a temper tantrum and blaming "meme" investors for the stock market going down. + +Seems like they're starting up the spin cycle for the inevitable. Once a clip becomes available I'll post it. + +Bullish. + +https://www.youtube.com/watch?v=fQXwLhCeLso + + +Gather round, diamond handed apes and crayon eating retards. There is a lot of confusion about what short interest from the short interest report today actually means. Here is how it breaks down. + +Today's reported short interest is 78.46. Short Interest is the percentage of short shares of the outstanding shares. Outstanding shares means ALL the shares of the stock, including restricted shares and shares held by insiders. + +GME has 69,750,000 outstanding shares. 78.46% of those outstanding shares is 54,725,850 shares. So as of the settlement date of 1/29 there were 54,725,850 shorted shares out there that need to be covered. By comparison, the number of shorted shares from the 1/15 report was 61,780,000 . So since the 1/15 report to the 1/29 only 7,054,150 shorts were covered. + +**Got it so far? Ok here is the good shit.** + +Float is the number of shares that are available to trade. Float is the number of outstanding shares minus the restricted shares and the shares held by insiders. GME Float is 46,890,000 . + +So the short float percentage is the number of shorted stocks (54,735,850) divided by the float (46,890,000) x 100. So, the **SHORT PERCENTAGE OF FLOAT IS 117%.** + +Thats right, the 1/29 report tells us that the short stocks are 117% of the available GME stock. Did you all hear me? + +**The next part is the REALLY GOOD SHIT** + +Let's take a a look at the 7,054,150 shorts that were covered between the 1/15 report and the 1/29 report. The short interest report from 1/29 is from the SETTLEMENT date, not the trading date. It takes two days for settlement, so the short interest you see is actually from trading through 1/27. Likewise, the 1/15 report is from trading through 1/13. + +Ok, according to todays report, 7,054,150 shorts were covered between 1/13 and 1/27. So what happened during that period? + +On 1/13 GME opened at 20.42 and closed at 31.40. On January 27 GME closed at 347.51. That is an increase of 327.09. **That is an increase of just over 1600%!** + +Of course, everyone knows what happened on the following day. The price shot up to 450, the DTC increased margins and shut down retail buyers. + +Only 7,054,150 shares were covered during that 1600% increase in GME stonks. Some of that increase must have been due to people jumping on the bandwagon so the increase probably isn't completely due to the short squeeze that had started. + +TLDR: The Short Interest Report today shows us that on there was 112% more shares shorted than were actually available to purchase on 1/27/21. Between 1/13 and 1/27 on about 7 million shorts were covered. + +The hedges are fucked. They have been shorting like crazy since 1/27 because they were really bleeding by that point. They had to keep the price down and try to reduce retail purchases and holdings by all the shit we have seen in the subs, on twitter and tv. + +Nothing has changed, the squeeze has not happened yet. + +Buy Hold. Peace +Thanks to all of the amazing DD and learning about the fraudulent activities by the major US banks, I decided to pull all of my money out of my JPM/Chase checking and savings accounts and open new accounts at a local credit union. + +When I called to close my accounts over the phone, I expected the customer service rep to try to persuade me to stay. It was the complete opposite. + +She asked why I wanted to close my accounts. I tried to think of a quick answer and not spout 30 minutes of DD over the phone she probably had no idea about. She then asked if I had a poor experience at a branch. I said that my decision to close my accounts had nothing to do with the branches, but rather the CEO and his unethical answers to the Financial Oversight Committee recently. + +She said, “I hear you, and I don’t blame you! But that’s all I can say.” + +Shocked, I took this as a green light to expound how Jamie Dimon has no hesitation about taking billions of dollars in overdraft fees from struggling Americans during a pandemic and refused to reimburse the overdraft fees when questioned by Senator Warren. + +She responded by saying, “ I couldn’t agree more. I’ll happily close your accounts!” + +What I expected to be a long and stressful phone call was anything but that! + +To anyone who is considering leaving a big bank, don’t think twice. The hate for their upper management is real!! + +*this is not financial advice. I have two crayons stuck in each nostril and other orfices as I type this* + +Edit: This received more visibility and comments than I expected. Thank you for the awards as well. I’m just an ape doing ape things. +He lives 5 mins walk from mine. He popped in after his last job (which we agreed) and went straight home afterwards. + +He also owns a building company. + +It was supposed to be an initial assessment but decided he can fix it on the spot. It was quick and involve a Allen key (to open it) and WD-40 (to lubricate so the switch can turn smoothly). + +He mentioned at the outset he doesn't have a call out charge but the hourly rate is £80. I was billed for £80. + +Now it is a few months later. **I'm thinking to do a garage conversion and would like to use a local builder (it would cost anything between £5k - £15k). Based on the plumbing experience, shall i trust him?** + + +Edit: I never said I expect to pay by minute. That's unreasonable. But I did wonder if I would get a discounted flat rate something like £50 considering he lives in the neighbourhood and the ease of the job. +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). +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). +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/ywAGqfUAQE). +My 75-year-old mother-in-law has $1 million in her IRA and is quite happy with her financial advisor at LPL Financial, who has her invested in more than 30 different mutual funds and ETFs. + +I took a look at her quarterly financial statement and it literally made my eye start to twitch. + +I couldn't even put the whole thing in portfolio visualizer because you can only compare 30 funds max. + +Here is her investment "mix," each of which has like 3-4% of her total portfolio in it: + +OSCYX +USMV +VNLA +GOGIX +LSGRX +MGOIX +MEIIX +OAKIX +PEIIX +TMCPX +ACGYX +AGDYX +GHQYX +SHOYX +SBLYX +OIIEX +OISVX +OISGX +OILVX +OILGX +OIFIX +GHQYX +SBLYX +SPLV +XMLV +EEMV +EFAV +SMMU +USMV +LDCFX +LGLV +WCMGX +EPS +EZM + +For someone like me who is 100% invested in VTSAX and is an adherent of JL Collins and "The Simple path to Wealth" this portfolio screams "Dazzle them with complete bullshit!" + +Is a portfolio like this common when you sign up with a financial advisor or is this as batshit crazy as it seems to me? + +For the funds I could run through portfolio visualizer this pathetically underperformed VTSAX. Why would you pay somebody to do this with your retirement savings? +Which one is it? Are we treating the market like a casino or are we treating it like a long-term investment vehicle for wealth creation? Can’t have it both ways yet the dishonest financial media paints it that way. Buffet buys and holds stocks. Does he treat the market like a casino? You know people are snakes when they accuse you of contradictory things. +Welcome to the **/r/EthTrader** Daily Discussion thread. The thread guidelines are as follows: + +*** + +- Follow the Golden Rule. All other rules apply as well. Follow [this link](https://www.reddit.com/r/ethtrader/about/rules) to view the rest of them. The rules page is also linked in the announcement bar above. +- General discussion topics include, but are not limited to, events of the day, technical analysis, alternative Ethereum projects, or minor questions. +- Breaking news or other important content should be submitted as a separate post. +- In-depth altcoin discussions should be referred to the /r/CryptoCurrency discussion thread. To view the thread, [follow this link](https://www.reddit.com/r/CryptoCurrency/search?q=%5BMonthly+General+Discussion%5D&restrict_sr=on&sort=new&t=all) and choose the latest entry on the search page. +- Pumping, venting, trolling, or any other similar behavior should be redirected to the /r/CryptoMarkets trollbox thread. To view the thread, [follow this link](https://www.reddit.com/r/CryptoMarkets/search?q=Trollbox+Thread&sort=new&restrict_sr=on&t=all) and choose the latest entry on the search page. + +*** + +Thank you in advance for your participation. Enjoy! + +“The single greatest edge an investor can have is a long-term orientation. In a world where performance comparisons are made not only annually and quarterly but even monthly and daily, it is more crucial than ever to take the long view. In order to avoid a mismatch between the time horizon of the investments and that of the investors, one's clients must share this orientation. Ours do." - Seth Klarman, Baupost Group + +What is your investment time horizon and why? +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! + +Indian fintech CRED launches peer-to-peer lending feature Mint + +The Bangalore-based startup said on Thursday that CRED users can now lend to one another at an interest rate of up to 9% annually. + +Kunal Shah, founder and chief executive of CRED, said the startup is rolling out this feature, dubbed CRED Mint, initially to some users after testing this internally for months. + +“We’re super excited about this because it’s the first time our community members will be able to invest in one another directly. It’s going to focus on high-quality, low-risk, but much better, inflation-beating returns you can get on your money,” he said in an interview with TechCrunch. + +[https://techcrunch.com/2021/08/19/indian-fintech-cred-launches-peer-to-peer-lending-feature-mint/](https://techcrunch.com/2021/08/19/indian-fintech-cred-launches-peer-to-peer-lending-feature-mint/) +Amazing steps taken by #SPORTEMONGO #GAMECHANGER #SGOARMY #LIFECHANGING + +🌟🌟Partnerships with Chainlink 🌟🌟 + +Sportemon Go is excited to announce our integration of Chainlink VRF on Binance Smart Chain to access Provably Fair Randomness within our blockchain-based sports gaming platform. Chainlink VRF will be leveraged within all Sportemon Go games and competitions. + +🔥🔥We are now #CROSSCHAIN💣💯 Bep 20 & Ecr 20 + + 🌟🌟 Partnership_ Nerve Network Bridge 🌟🌟 + + EXCHANGE SUMMARY + +⭐ = LIVE +🎈 = IMMINENT +🧨 = Nerve Bridge + +⭐ BitMartExchange +⭐ PancakeSwap +⭐ Indoex_LTD +🎈 c0insbit (imminent) +🎈ProBit_Exchange 5th of July +🎈XTexchange 5th of July (Asian Social Exchange 1 bln Volume) +🧨Okek +🧨huobi +🧨heco +🧨nuls + +Sportemon Go ON Finances Biggest Network (530 mil+ viewers) + +*Nasdaq +*Bloomberg +*Fox Business +*Yahoo Finance Article https://finance.yahoo.com/news/sportemon-revolutionizing-sports-superstar-nfts-123100245.html?.tsrc=fin-srch + + Contacts & GROUPS + +Twitter: @sportemongo / @SGOgamechanger (CEO) +Telegram: https://t.me/SportemonGoBSC (24/7 support chat) +https://t.me/SportemonGonews (announcements) +Website: https://sportemongo.com/ (buy here) + +🎉🍻🎉🎊🎇🍾👑💣😇 + +📽️🎬 Graffiti Mansion July 4th Party (Armani Izadi Hosting) 1m plus followers across multiple platforms + +RUG proof via RUG Scan +Audited Via Tech Rate + +Needless to say Ricky, Corey and Team stand out from any other Crypto Currency on the market. They have moved from poocoin to ALTCOIN in 20 days. Transparent Business that is tokenized. It's something as an investor in crypto, and stock market, that I've never seen before. They have delivered on every promise and overachieved and even added to roadmap along the way. They understand business and have been able to adapt and overcome obstacles when needed. The telegram chat is full of extremely knowledable and passionate investors. They provide professional support for anyone. Whether you are new to crypto or a veteran. They welcome all with open arms and has a family like atmosphere.... #SGOARMY #GAMECHANGER =life changer + +COMMENT LIKE JOIN the Telegram please add partners I know I've missed some! Massive things behind scene +Top 40 wallet 🐋 grp doxxed provided funds for some exchange Listings! OH yeah Coin Market Cap Deals Finalized +I've seen a lot of misunderstanding across about the effect of rates on equities, so I figure I'd hop off of WSB to give an explainer about the relationship between stocks and interest rates, and show why the current sell off makes sense. + +**Where do interest rates come from?** + +Money has time value. Money today is usually worth more today than money tomorrow. How do we measure the time value of money? Interest! When we loan money out, we demand a return. What goes into an interest rate? There are 3 primary factors: + +1. \*What do I think inflation is going to be?\*Say you estimate inflation to be 3% and rising, you'll demand a far higher interest rate to protect yourself. +2. \*How risky is this loan?\*Your lend to a group of risky businesses, you might jack up interest rates to make sure if one goes under, you'll make your money back from the rest +3. \*How much is everyone else willing to lend for?\*You'll need to compete with other lenders which helps determine the final interest rate. + +**US Treasuries: King of Bonds** + +So US government debt is considered primo with near 0 risk of default. The rates on US government debt determines whats known as the *risk free rate*. + +The US issues debt at several different maturities from weeks, to months, to years. If we line up these interest rates, we get what is known as the [yield curve](https://www.gurufocus.com/yield_curve.php). + +To reiterate, these rates are determined by the market and are manipulated by the Federal Reserve, which attempts to intervene in the market to get rates to its targets. When the Fed comes out and says it wants rates to stay near zero, this one of the ways they do it. + +And this is exactly what happened during the corona crash, interest rates went to zero across the curve. + +**How to Value a Company** + +Let's say we have two companies. $BRR and $GRO. Let's say we're certain of their future cash flows. + +* BRR is runs a money printer and makes $10M a year. +* GRO is a growth stock that's expected to make $100M a year in a decade. + +How do we value these two companies based on cash flow alone? For simplicity, let's only look at the first 10 years. We need to determine the present value of the money the company makes in the future. + +What is money from n years from now worth today? money / (1 + risk\_free\_rate)\^n. So we can represent todays value for 10 years of cash flow like this: + +Let $$$ Year X be the money we *know for sure* (i.e. the certainty equivalent) the company will make in year X. Let r be the risk free rate. Then we can model the value of the company roughly as follows: + +Value = ($$$ Year 1) / (1 + r) + ... + ($$$ Year 10) / (1 + r)\^10 + +**How Rates Affect Value** + +So which company do you think is worth more? BRR or GRO. + +Well that depends on the interest rate! Let's say interest rates are at 0 or near zero. Their valuations taking no other factors into account are nearly the same: $100M. + +Now let's start cranking up the interest rate slowly to see what the current valuation is. + +&#x200B; + +|r|BRR|GRO| +|:-|:-|:-| +|0.0%|100M|100M| +|0.5%|97M|95M| +|1.0%|94M|90M| +|2.0%|90M|82M| +|4.0%|81M|67M| + +***As interest rates go up, the company that depends more on future earnings (GRO) is getting whacked. A move 0% to 2% knocks off almost 20% in one shot.*** + +**So why the fuss all of a sudden?** + +Stocks went flying higher under the assumption that the fed would remain dovish, work to keep interest rates low, and would not be able to produce inflation over 2% if it wanted to. For a lot of reasons, people were betting that if that inflation would appear any were it would happen farther out in time near the 30Y. Given they figured the 5Y would stay low, and the 30Y would go high they shorted the 30Y bonds and went long 5Y. However, 5Y and 10Y treasury yields suddenly spiked making everyone ask whether inflation would come sooner and faster. People hoped the fed wold say something to alleviate this, but instead Powell had stated in September that he's fine [with inflation running hot over 2%](https://www.brookings.edu/blog/up-front/2020/09/02/what-do-changes-in-the-feds-longer-run-goals-and-monetary-strategy-statement-mean/) (which no one seems to have believed) , and the fed today reiterated its not going to do anything about it in the short run. Hence, yields are still rising and equities are continuing to fall. Add to this all the froth and speculation, a 20-30% correction makes a lot of sense in overheated names. + +**Caveats about the analysis above** + +1. The interest rates in this analysis are made up but the point still stands. +2. BRR is actually a better play since the risk free rate for earlier years will likely be lower than those farther out in time. +3. You shouldn't stop counting after year 10. You in theory can go out to infinity, and if rates are near zero, valuations for a growth company blow up too. +4. In most discount cashflow analysis, you don't use the risk free rate instead you use a discount rate specific to the company that takes risk into account for that company. In this case, it's fine to use the risk free rate since we assume we somehow know exactly how much the company will make (certainty equivalent). In the real world, we predict future cash flows by licking a finger sticking it in the air, and guessing which way the wind will blow. + +**Inflation! Waddabout gold?** + +If treasury yields stay above inflation, gold prices fall. That's because it's better to own a sheet of paper with a yield than a rock. Gold will only benefit if the Fed works to suppress rates farther out on the curve. This is why [the price of gold is negatively correlated with real interest rates](https://www.sunshineprofits.com/gold-silver/dictionary/gold-interest-rates/)*.* +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! + + + +Stay at home, but the working class can't afford to miss work. Few have emergency funds, even some of the more higher earners have no savings. + +A lot of jobs are offering to let you stay home, totally unpaid of course. You might get unemployment, but that's only a fraction of your regular pay. + +Buy 2-3 weeks worth of groceries, again, some people can't afford to do so. + +Some people downright refuse to get tested or get hospitalized for it because they can't afford to. + +Covid-19 has struck some countries with very good "safety nets" and wreaked havoc. It's very scary that a lot of damage in being done in the USA due to income inequality. +Nasdaq GEMX: [Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Amend the Opening Process](https://www.sec.gov/rules/sro/gemx/2021/34-92495.pdf) (Release No. 34-92495; File No. SR-GEMX-2021-07); see also [Exhibit 5](https://www.sec.gov/rules/sro/gemx/2021/34-92495-ex5.pdf) + +https://preview.redd.it/674280ll3md71.png?width=1011&format=png&auto=webp&s=ad9d74b4df1a435d7fc7ee1814f5f34ba5b95dde + +https://preview.redd.it/e93ou472cnd71.png?width=702&format=png&auto=webp&s=c5360340dcb73018194976df0c799c4be6009917 + +https://preview.redd.it/ymjx84aacnd71.png?width=741&format=png&auto=webp&s=cd6c8fe2385f1830cea6d788dcc3ed52a38fbf65 + +https://preview.redd.it/2xvwp4gwcnd71.png?width=773&format=png&auto=webp&s=b05c609675e7c696583c4ba887d1a7bda2860a4e + +https://preview.redd.it/hf4ojzqpdnd71.png?width=605&format=png&auto=webp&s=6d9de599fa6b7eb969dc8bc7eb914cdf3258058f +I have this irrational fantasy of wanting to go back to an elite school, like Stanford, after fatFIREd. + +I’d love to learn unrelated things besides engineering, eg. stock market related classes, or even art/linguistic classes. + +What do you guys think? Foolish? Fun? +I'm 50, have roughly 55k in bank and am able to add roughly $2500/month to this after bills are paid. + +I am aware that I am starting very late, but poor life choices / student loans in my younger years prevented me from being able to save anything. + +What advice would you give that could build upon this over the next 15'ish years as I work towards retirement? + +Thanks for any and all advice, it's much appreciated! +We've owned our land since the very start of covid. We paid $330k for 1 acre in Ipswich. Around 40minutes to the Brisbane CBD. The bank has since valued that block at now $770k. I'm not complaining, plenty of equity to use for a construction loan. + +It's the cost of building a house that has shocked me. A 320m2, 4 Bedroom acreage-style new build is set to cost us $650,000+ - The current plan has been to sit on the land and pay that down as fast as we can, it currently sits at $270,000 owing - meaning if we take the build on now, we're looking at a $920k mortgage. The neighbour's house has just sold for 1.1M, so I don't feel we're over-capitalising but I do worry that as the construction industry slows, the $650k we're being quoted now is going to drop substantially in the coming year or so. Or is the general consensus that this is the new norm? + +I am also feeling the pressure as our lending power is slowly being eaten away by rate rises. So if we don't pull the trigger now, we may not have the capacity to take on an additional $650k of debt. +**TL;DR:** The traditional American work ethic, while admirable and (perhaps) good for the collective, can be unhealthy for the individual. Many of us would be better off if we embraced a degree of self-centered self-indulgence and devoted ourselves to self-actualization instead of productivity, paid work or ‘the greater good’. + +I often feel discomfort watching remarkably talented friends trade their mental and physical health to climb someone else’s ladder. Many of them radiate an unmistakable din of desperation for a more tolerable life. The concern I feel for them motivated me to post this. + +In the US, the ethos of 'meaningful hard work and achievement' is so deeply rooted that most of my peers never question it. Why is this? Why do people continue to work in unhealthy environments when they could stop working decades before they finally do so? Obvious contributing factors include low wages, lifestyle inflation, financial illiteracy, etc. However, I believe that there are additional, less acknowledged variables at play. Below I discuss a few potential contributing factors. + +Until very recently humans had trouble obtaining the basics in life: shelter, food, safety, etc.. It was hard to get enough and nearly impossible to acquire a surplus sufficient for peace of mind. Those humans who continually strove for ‘extra’ were disproportionately likely to pass on their genes. + +Today things are different. It’s feasible for many workers in highly developed economies to obtain not only the necessary basics but also to have a sufficient surplus (e.g., an emergency fund) for unexpected developments. With this comes the question: at what point should people stop pursuing more? I see this phenomenon manifested in the many, many posts where people say —‘Can I actually FIRE at this point? Should I work a few more years to build up a little bit of extra savings?’ + +Further, many people have incomplete identities and few, if any, real passions in life. Therefore, they rely on paid work, artificial goals and milestones (e.g., degrees, promotions, titles, etc.) as a source of identity, meaning and reward. The fact that so many Americans derive their primary meaning and identity from work is, arguably, a reflection of deficiencies in their non-work lives. Perhaps If these same people had more non-work passions they would identify less with their jobs, work less and enjoy their lives more. + +Many people have difficulty developing their own structure and don’t have motivation to pursue their own goals. I believe that this is learned behavior that stretches back to at least elementary school; for the first 18 years of life most Americans have so much structure heaped upon them that they don’t learn how to develop their own (the negative consequences of not being able to create structure for oneself have manifested clearly during the pandemic). Further, many people are reluctant to leave paid work because they fear that they will wind up ‘doing nothing’ as if achieving FIRE would mean you would do ‘nothing’; there is a wide range between unhealthy inactivity and paid work in a job that sucks your soul. + +You could work your whole life trying to turn your ‘start up’ into the next big thing and fail. Or succeed and realize that it is another ‘facebook’ undermining democracy and the mental health of others. Or you could take an arguably less conventional path; you could chart your own course and self actualize. Grow like an unfettered, unbound, liberated bonsai tree. Find something other than paid work that gives YOU meaning and then strive for excellence as you define it. Travel, explore sunken wrecked ships, climb mountains, farm, etc. + +Among this list of potential meaningful activities I purposely did not include volunteering, establishing a non-profit or any other behavior that promotes ‘the greater good’. I value and engage in activities that benefit others. However, I believe that the default substitution of one form of obligation (to an employer) for another (to society) does not address the problem. I believe that too many people are reluctant to engage in a healthy level of self-centered self-indulgence, and that many of my peers would do well to shed the hand wringing, self-flagellating privilege guilt that keeps them on one treadmill or another. + +I believe that many of us will be a lot better off if we embraced the side of ourselves that enjoys self-centered indulgence, striving for excellence in activities that do not necessarily come with any monetary reward nor any societal benefit but are nevertheless meaningful, healthy and rewarding. You are not obligated to devote your free time and disposable resources to anyone or any cause. It’s OK to be a bit selfish at times. + +Lots of people experience true meaning and satisfaction from their paid work. They contribute to their communities and make the world a better place. I sincerely admire, respect and applaud them. I too have experienced lots of meaning from hard work and achievement in the world of paid work, but it came at a price. For me, devoting so much time, energy and resources to career progression undermined authenticity and self actualization. Leaving paid work meant I will never achieve x, Y or Z. So be it. I am much happier and healthier in my current situation. + +Now in my 50’s, I am happier, healthier and more self actualized than ever. FIRE helped me to get here. + +I welcome your perspective and comments. I recognize that this post may offend some. Feel free to let me have it. + + +**TL;DR:** The traditional American work ethic, while admirable and (perhaps) good for the collective, can be unhealthy for the individual. Many of us would be better off if we embraced a degree of self-centered self-indulgence and devoted ourselves to self-actualization instead of productivity, paid work or ‘the greater good’. +>Delta on Tues­day re­ported a net loss of $5.7 bil­lion for the June quar­ter com­pared with a profit of $1.4 bil­lion a year ear­lier, with sales down 88% at $1.47 bil­lion. The $9.01 loss per share com­pared with the $4.16 con­sen­sus among an­a­lysts polled by Fact­Set. + +> The loss in­cluded $2.1 bil­lion in charges against its stakes in three over­seas part­ners—Latam Air­lines Group SA, Grupo Aeromex­ico SA and Vir­gin At­lantic Air­ways Ltd.—that are all in fi­nan­cial trou­ble. Delta also took $3.2 bil­lion in other pan­demic-re­lated charges, in­clud­ing re­tir­ing older planes. + +> Mr. Bas­t­ian said the pause in the de­mand re­cov­ery would leave it burn­ing $27 mil­lion in cash a day this month, in line with last month. It is still aim­ing to stop los­ing cash by year-end, but that goal hinges on pas­sen­ger de­mand and the cost of shrink­ing the air­line when gov­ern­ment aid runs out, which it is cur­rently sched­uled to do on Oct. 1. + +https://www.wsj.com/articles/delta-trims-flying-amid-coronavirus-pandemic-11594725393?st=0kwxxd5vl63a2vi&reflink=article_copyURL_share + +> “Given the combined effects of the pandemic and associated financial impact on the global economy, we continue to believe that it will be more than two years before we see a sustainable recovery,” Ed Bastian, Delta’s chief executive officer, said in a statement. + +https://www.nytimes.com/live/2020/07/14/business/stock-market-updates-coronavirus?referringSource=articleShare +The invoice just shows up as "Office Visit". I called the billing number on the invoice to ask about it, and they told me to call the Doctor's Office. I called the Doctor's office, and they told me to call my insurance company. I called my insurance company, and they told me to call the Doctor's office. + + +The second time I called the Doctor's office, they told me that there was a "new patient charge" that was "significant", but they would not tell me how much those charges were. They also said that I was billed for 4 different things, but would not give me any details about what those things are. + + +It seems suspicious that they won't give me any information. I also think this "significant new patient cost" is suspicious - I have never heard of this before. If I was charged for 4 different things, shouldn't they appear on the invoice? + + +Is there a way to dispute these charges? I don't even know where to begin. +So it's been a full year since I've been RE and wanted to give a quick update on my [original post](https://www.reddit.com/r/financialindependence/comments/adj08l/35_11m_luck_stumbles_dedication_and_thrift_an_11/). Spoiler: I'm loving the FIRE and don't have any plan to go back to work at all! I've put the TL;DR up front, but I've got a lot more details below if you're interested in reading those! + +* After taking an 11 month Leave of Absence, I officially gave my notice and my last day of employment was in early January. +* My net worth went from $1.10M to $1.40M with a few paychecks, cashing out a ton of PTO, a small annual bonus, and a surging stock market. With my current budget of $33K/year, this would amount to a 2.37% withdrawal rate, which for someone who is risk averse (especially given the long bull run in the past decade and valuations where they are currently at) is very comforting. +* 2019 Actual budget was only $500 above planned and I found that a lot of my planned budget categories costs were higher than my actual spend. +* Overall, I'm extremely happy with my decision to RE - I can spend more time with my hobbies, friends, and [pursue things that are bringing more meaning to my life](https://www.reddit.com/r/financialindependence/comments/dbcrtr/giving_after_fire_1_month_volunteering_at_summer/). I know there have been a few recent posts about not being happy after RE, but I'm truly enjoying all of it and not finding any boredom whatsoever! +* I applied and got accepted to a second LGBT summer camp as a cabin counselor! I've got 3 days at a spring camp, 3 weeks with Summer Camp #1, and 5 weeks with Summer Camp #2. With training for each of the camps, it'll be 68 days of volunteering this summer! +* Major goal this is to get better at climbing (leading sport and trad climbs outdoor at 5.10b-5.10d level) so I can apply to be an outdoor instructor at Outward Bound or NOLS (National Outdoor Leadership School). + +In the rest of the post I will cover the following topics: Major FIRE actions, Quality of Life Update, Budget in FIRE, Goals for Year 2 of FIRE, Notable Experiences Since my Last Update, and Notable Events/Trips for 2020. So read on for more details! + +# Major FIRE actions + +* Moved 401k to Vanguard IRA rollover account. This gave me some anxiety because a mid 6-figure check was sent via snail-mail. o\_O +* Changed taxable investments to not auto-invest to get a cashflow source not that I'm not generating a salary. I got $18K in dividends from my taxable accounts last year, most of it qualified. +* After lots of research and debating pros/cons, I decided to balance health care costs, present taxes, with future taxes and am targeting an AGI of $30,200 next year. I will have the roughly $18K in dividends (based on 2019) and $12,200 of of IRA to Roth IRA rollover income. If dividends come in lower than $18K, I will sell of some mutual funds to get LT capital gains to make up the difference. **My estimated 2020 tax at that income level will be $975 ($400 Federal and $575 State).** The $30.2K AGI puts me in the top range for the Silver 73 CSR subsidy range. I hypothetically had the option to keep my premium to $1/month with super low deductibles and out of pocket costs, but it didn't leave any headroom to convert IRA to Roth IRA. Ultimately, I chose to pay a higher health insurance premiums ($474/year instead of $12/year), which is effectively a 3.80% tax to rollover $12.2K to Roth IRA. +* Signed up for ACA covereage started Feb 1st for $39.50/month for a Silver 73 HMO with CSR with $3700/$375 deductible with fixed fee co-pays for normal doctor visits and labs/tests. There were issues with the website so I had to call in via phone to continue the application. Also, I had to talk to them and insist/clarify that I no longer had health insurance at work - they input it into the system that I still had a job and it was going to cost me something like $500+/month. + +# Quality of Life Update + +I definitely don't feel any guilt about not working or feel bored (I've seen a lot of posts recently commenting on either or both topics) - I've got so many things I do outside of work that I enjoy and I've been able to spend so much more time with friends and family post-FIRE. + +**Downshifting** + +I have a much more laid back attitude with life. Before FIRE I was very much a "always on the go", Type A kind of person, feeling like I had to optimize every bit of every day, partially because I had limited time at home, but also because I wanted to "maximize life". While on a 3 week vacation, I actually had 1-2 days where I actually just lounged around at my hotel swimming pool instead of seeing cultural sights and exploring the city. If you bet me a year ago that I'd spend an entire day not doing anything besides laying at the pool and eating, I would have thought you were crazy. With the ability to do slower travel and therefore less pressure to squeeze everything in, I've found that FIRE has given me a a stronger sense of calm/relaxation from the normal frantic life and resulted in a lot less stress. + +**Decisions and Structure** + +From time to time, I found that there was a lot of things to do and it was often tiring to choose what to do. Making decisions takes energy and effort (see the book "The Paradox of Choice" for further information on choice and loss aversion). With a large lack of defined work schedule and structure, it was taking energy to make those decisions. What I've done to combat having to make so many decisions is to create a shell structure so I'm doing the things I want to avoid suffering from decision fatigue. + +For example, Monday nights are always board game nights at my lcoal store, Monday and Thursday afternoon are my lead climbing days, Tuesdays are my puzzles or cheap movie nights, and Friday are my theater nights. Nothing is set in stone of course, but having the structure relieves me from having to make decisions all the time over things that I want to do and can let me spend more time on meaningful decisions. + +# Budget in FIRE + +I spent more on travel and some other areas, but surprisingly my spend was still only <$500 greater than my planned budget, despite paying for (effectively) Cobra Health Insurance for 6 months. The following are a few random musings of some areas where my budget has decreased as a result of FIRE: + +**Lower expenses as a result of FIRE:** + +* Saving on airfare by travelling on non-peak days/times. +* Taking advantage of $5 Tuesdays at AMC and other matinee movie prices. +* Lower food costs because I'm eating more at home more often. +* Lower transit costs because I've been riding my bike much more. Previously, I felt pressed for time so I would take the bus or train to places or Uber/Lyft, but now I get on my bike for more exercise and fresh air, while saving money. +* Will get about 2 months of "free" food (\~$1100 based on my budget) while volunteering at summer camp. Note: I'm doing the camp because I love it and it's not really "free" since I'm donating a lot of my time, but it just happens to be a side perk for volunteering. + +# Goals for Year 2 of FIRE + +* Lead a 5.10D sport route and lead a 5.10A trad route. +* Get in even better shape, mostly so I can become a better climber. Aiming for 3 climbing days a week and 2-3 cardio/strength conditioning. Specific goal is to get to 13% body fat and 145 pounds (currently at 16%/152). +* Volunteer more with LGBT summer camps than I did in 2019 (I already have 68 days for 2020 planned compared to 24 in 2019). +* Apply and get accepted to work for NOLS or Outward Bound as an outdoor backpacking/climbing instructor. I would especially love to guide some LGBT/POC affinity groups. + +# Notable experiences since my last [update](https://www.reddit.com/r/financialindependence/comments/bqv9i4/100_days_on_loa_a_quantitative_view_of_my_time/): + +* Ate at Blue Hill at Stone Barnes. +* Mountain biked for the first time, including some pretty difficult (for me) single track. +* Did a 5 pitch multi pitch route, leading 3 pitches (it was super soft). Climbed 2 different 6B+ routes (\~5.10D) on top rope without any takes. Those are the hardest grades I've ever climbed. +* Saw a 7 hour play, The Inheritance, which was absolutely incredible. +* Visited Thailand for 3 weeks, my 38th country. +* Saw Harry Potter and the Cursed Child! + +# Notable planned events/trips for 2020 + +* Disneyworld and Universal Studios for a 10 days. +* Brazil trip for a month to travel/climb and to see my new niece (I'm a first time uncle!). +* Volunteer at two summer camps (including training, 68 days). +* Text/phone bank and canvas for swing states in September/October. +* Laos and Cambodia trip for 3 weeks to climb in Thakkek. + +Hope you found the post enjoyable and/or informative. Please let me know if you have any questions/comments! +LetsGoBrandonToken “ token by the people and for the people“ + +Letsgobrandon as a community driven Token that was created off of the viral “LetsGoBrandon“ chance heard around the world. Just like in the chant, there’s much more to this token. With 2% of each transaction going directly to our charity Wallet, LGBT will be making regular donations to different charities, which are voted on, by the LGBT community. We also reward our holders with 7% of every transaction that is made. So the more you hold, the more you EARN! 💰 3% of every transaction is also put back into the liquidity pool for long-term growth. + +&#x200B; + +✅ DEV doxxed + +✅ Contract Audited (TechRate) + +✅ Liquidity Locked 🔒 One Year + +&#x200B; + +LGBT is a worldwide movement in our community has ground over 2700 telegram members in just the first week. Not to mention a Presale that sold out in just four minutes! LGBT will also be offering NF tees, merchandise and sports betting in later phases. + +&#x200B; + +☑️ Contract: 0x0B1E1e818433abcDB0acb878c3d3eC95A8534527 + +✅ Total Supply: 81Q + +🔐 Liquidity Locked: 365 Days + +💴 Buy / Sell / Transfer Tax: 12% + +&#x200B; + +Tokenomics 🚀 + +🤝 Charity: 2% 📈 LP: 3% 💎Holders: 7% + +&#x200B; + +And just the first two days we reached a $1.3 million market with 265 proud holders! Come and join the movement! + +&#x200B; + +🌐 Official Platforms + +💻 web: [letsgobrandontoken.com](https://letsgobrandontoken.com) + +✅ Telegram - [https://t.me/lgbtokenofficialchat](https://t.me/lgbtokenofficialchat) + +🐦 Twitter - [https://twitter.com/LGBToken\_FJB](https://twitter.com/LGBToken_FJB) +UPDATE 4: POLYGON/MATIC JUST TWEETED ABOUT DARK MATTER $DMT!!! HOLY SSHIT! + +[https://twitter.com/0xPolygon/status/1374721620351197185?s=20](https://twitter.com/0xPolygon/status/1374721620351197185?s=20) + +UPDATE 3: New Partnership and more updates: [https://twitter.com/FERAStrategies/status/1374672789228097539?s=20](https://twitter.com/FERAStrategies/status/1374672789228097539?s=20) + +UPDATE 2: Just Listed on Exchange: [https://twitter.com/Bilaxy\_exchange/status/1374678872235462662?s=20](https://twitter.com/Bilaxy_exchange/status/1374678872235462662?s=20) + +[https://bilaxy.com/trade/DMT\_ETH](https://bilaxy.com/trade/DMT_ETH) + +(For those of you who are unfamiliar with UniSwap/QuickSwap.. MUCH Less Fees aswell!!) + +UPDATE: WE'RE MOONING!!! 🚀 🚀 <3 Congrats everyone + +&#x200B; + +Polygon/Matic platform based NFT ecosystem! + +I know you're thinking I'm completely full of shit comparing this $2M market cap diamond in the rough to the $2B market cap king of the jungle that is Enjin. + +But tell me *this.* + +With the success of Enjin, a blockchain ecosystem built around gaming, **what comes next?** Sure, I got Chain Games too, gaming in crypto is a safe bet to keep mooning. But bigger than that, what do you see? + +For me, **if Ethereum is a strip mall, with different boutiques you can visit, then Enjin is the Best Buy across the street.** It developed it's own niche and ecosystem and became a place people go to for specific reasons, not just something to window shop by. + +And Best Buy managed that because it **wasn't content being another boutique**. It didn't set its sights on manufacturing goods and selling at small brick & mortars. It thought bigger. It aggregated products from several manufacturers and **challenged the mall at its own game.** + +This isn't selling the pick axes to miners in the gold rush. This is renting space to pick axe franchises. + +But blah blah blah you're not here for top 100 coins. You're here for the little brothers. The ones that swing harder and occasionally surge past. That's why you want Dark Matter now. A team that sees the bigger picture when everyone's lost in the forest of small-scale rugs. + +**A team that wants to be a true giant. The only way to 1000x is here my friends.** + +Dark Matter involves an already functioning ecosystem that creates profit-sharing opportunities by rewarding all liquidity providers a share of revenues generated across the platform. Much like how all of the Enjin dApps are powered by ENJ tokens, $DMT will be linked to the value of the collective enterprise. + +**This essentially allows your retail investor to own the mall rather than a store in it, collecting revenues from each project that benefits from the collective success of the ecosystem.** + +**Again. This isn't Auntie Anne's, this is Best Buy. This is the mall. This is god damn Amazon.** + +Dark Matter also naturally creates incentives for partnerships and allows projects to work together to build something bigger rather than tear each other down for scraps. This commitment to community is sure to be attractive to new projects looking to establish themselves in a friendlier space. + +With this, the team is already working on several additions themselves to fill out Dark Matter since we are still extremely early, with the first project launched on the last day of February! + +The[ Million Pixels Project](https://millionpixels.io/), an homage to the[ Million Dollar Homepage](https://www.bbc.com/worklife/article/20160914-the-man-behind-the-million-dollar-homepage), already shows the ingenuity of a community and builder-oriented ecosystem. The 1000 x 1000 pixel grid is actually separated into a million different NFTs, each one fully controllable by the person who buys it. Meaning that you can buy up a plot and decorate it as you please, or coordinate with your neighbors to build a bigger image. **At its finest, this could be a consistently shifting piece of art that is edited by a million different people! How amazing of a story would that be? (For your children, and for CNBC...)** + +**And this is just the start.** + +There's so much opportunity here at just a $2M market cap, a previous ATH 2x the current price and nice rounding action on the chart. With the full 9,999 supply currently circulating, the price at a touch under $200 could easily make the next leg up to $1,000 if the bull market keeps running. + +But of course, I want to be clear, this is no pump and dump so DYOR, invest with a long-term mindset and enjoy the gains as holding is the only way to win with the way the rewards are set with this one. And maybe build a little something yourself! Projects are welcome for consideration in the Dark Matter community and the devs highly encourage reaching out. If we build it, gains will come. + +Oh yeah, also there's gaming, NFTs, buzz buzz, buzz word, buzz buzz. + +Website:[ https://darkmatter.finance/](https://darkmatter.finance/) + +Medium:[ https://darkmattertoken.medium.com/](https://darkmattertoken.medium.com/) + +Discord:[ https://discord.gg/wwXt4kXkh5](https://discord.gg/wwXt4kXkh5) + +Telegram:[ https://t.me/darkmattertoken](https://t.me/darkmattertoken) + +ETH address: 0x79126d32a86e6663f3aaac4527732d0701c1ae6c + +Uniswap :[ https://uniswap.exchange/swap?inputCurrency=0x79126d32a86e6663f3aaac4527732d0701c1ae6c](https://uniswap.exchange/swap?inputCurrency=0x79126d32a86e6663f3aaac4527732d0701c1ae6c) + +Coingecko:[ https://www.coingecko.com/en/coins/dark-matter](https://www.coingecko.com/en/coins/dark-matter) + +DYOR. +**Note:** This is not financial advice, just sharing some research I have done on some shares I own. I have included links and charts – please verify yourself, if you have an interest to look into any of this information in more detail. Also, I am an Ape who does dates – I don’t live by them, but they are certainly something that keeps me going. And even if they don’t turn out, the long game of BUY and HODL will win in the end. + +&#x200B; + +# 0. Preface + +Yesterday I saw a post on another sub by u/JaboniThxDad that piqued my interest. As background reading, you may want to go into his posting history and check that out. His TL;DR in that DD is as follows: + +*T+21 exists. I believe it gets reset at the completion of every ATM offering. Our next has been moved up to July 22nd and it lands right as I believe we're going to be sitting on the edge of space as a result of a July 14th spike.* + +However, one point that troubled me was why January 13th came to be ‘Day Zero’ for the theory. This was certainly when the share price started to go parabolic, but GME had already been squeezing since last summer. So I decided look further back into the past, and what I found was both surprising AND tit-jacking. + +&#x200B; + +# 1. The Long Squeeze + +Most of us Apes, including myself, got into this trade in late January. However there were others (not just DFV) that had already seen their investment in GME stock pay off quite nicely, even before the “sneeze”. If you look at the 1-year chart, can see that the increase in share price started in mid-August: + +&#x200B; + +[GME share price in the last 12 months](https://preview.redd.it/psbq9m7yvra71.jpg?width=698&format=pjpg&auto=webp&s=ba39c60fe8ddb8300fbbbb755c1e5c384c44d306) + +So what happened in mid-August? Of course that was when the whole narrative surrounding GME changed, when Ryan Cohen decided to acquire a stake in the company. This news came out in the media at the end of that month, as the actual filing with the SEC by RC Ventures was on August 28th. However as you can see in that SEC filing, the actual share purchase took place a few days before that, on August 18th: + +[https://www.sec.gov/Archives/edgar/data/1326380/000101359420000670/rc13d-082820.htm](https://www.sec.gov/Archives/edgar/data/1326380/000101359420000670/rc13d-082820.htm) + +I am going to use this as my ‘Day Zero’ for this DD, as what I have found points to this act being the first of the hidden T+35 dates that I mentioned. But before that, let’s look at a more familiar cycle which I think also started due to RC Ventures taking a stake in GameStop… + +&#x200B; + +# 2. The Standard T+21 Cycle + +There has been a lot of discussion about this cycle, so I first want to see how accurate it has been as a predictor for upward movements in the share price. There is some conjecture as to when this cycle began, but as I am using August 18th as ‘Day Zero’, let’s see what the impact has been on the share price since then. I have calculated the price movement by the end of the 5th trading day after the T+21 date, as I feel this better shows the impact on the short term share price than just on that particular date: + +&#x200B; + +[5 day impact of the T+21 cycle](https://preview.redd.it/nwjlpp82wra71.jpg?width=460&format=pjpg&auto=webp&s=ccd46f1bb3006184a49c8814f1d9eb49da59adab) + +As you can see, the “old” T+21 theory had a slow start but has had an impressive track record since then. To summarise: + +* Since ‘Day Zero’, T+21 has provided positive momentum on 8 out of 11 occasions (72% success) +* If including only November onwards, those numbers are 8 out 9 (89% success) +* Of course the most recent T+21 date, on June 24th and its aftermath, did not keep with the pattern + +&#x200B; + +# 3. Hidden T+35s: RC Ventures and ATM Offerings + +What I found is that there appears to be some other T+35 which also have a positive impact on the share price.. These are the following three categories + +* Category A: RC Ventures share acquisitions + 35 Calendar Days +* Category B1: Announcements of Early Redemptions of Senior Notes + 35 Calendar Days +* Category B2: Completions of Early Redemptions of Senior Notes + 35 Calendar Days +* Category C1: ATM Announcements + 35 Calendar Days +* Category C2: ATM Completions + 35 Calendar Days + +In categorical and chronological order, the specific events I am referring to are as follows: + +***Category A*** + +RC Ventures purchases 5,800,000 shares on August 18th: + +[https://www.sec.gov/Archives/edgar/data/1326380/000101359420000670/rc13d-082820.htm](https://www.sec.gov/Archives/edgar/data/1326380/000101359420000670/rc13d-082820.htm) + +RC Ventures increases its holding to 6,215,326 shares on August 28th: + +[https://www.sec.gov/Archives/edgar/data/1326380/000101359420000673/rc13da1-083120.htm](https://www.sec.gov/Archives/edgar/data/1326380/000101359420000673/rc13da1-083120.htm) + +RC Ventures increases its holding to 6,500,000 shares on November 16th: + +[https://www.sec.gov/Archives/edgar/data/1326380/000101359420000821/rc13da3-111620.htm](https://www.sec.gov/Archives/edgar/data/1326380/000101359420000821/rc13da3-111620.htm) + +RC Ventures increases its holding to 9,001,000 shares on December 17th: + +[https://www.sec.gov/Archives/edgar/data/1326380/000119380520001571/e620151\_sc13da-gamestop.htm](https://www.sec.gov/Archives/edgar/data/1326380/000119380520001571/e620151_sc13da-gamestop.htm) + +***Category B*** + +Early Redemption worth $125 million, announced on November 10th and completed on December 11th: + +[https://news.gamestop.com/news-releases/news-release-details/gamestop-announces-voluntary-early-redemption-senior-notes](https://news.gamestop.com/news-releases/news-release-details/gamestop-announces-voluntary-early-redemption-senior-notes) + +Early Redemption worth $216.4 million, announced on April 13th and completed on April 30th: + +[https://news.gamestop.com/news-releases/news-release-details/gamestop-announces-voluntary-early-redemption-senior-notes-0](https://news.gamestop.com/news-releases/news-release-details/gamestop-announces-voluntary-early-redemption-senior-notes-0) + +***Category C*** + +ATM offering of 3.5 million shares, announced on April 5th and completed on 26th April: + +[https://news.gamestop.com/news-releases/news-release-details/gamestop-completes-market-equity-offering-program](https://news.gamestop.com/news-releases/news-release-details/gamestop-completes-market-equity-offering-program) + +ATM offering of 5.0 million shares, announced on June 9th and completed on 22nd June: + +[https://investor.gamestop.com/news-releases/news-release-details/gamestop-completes-market-equity-offering-program-0](https://investor.gamestop.com/news-releases/news-release-details/gamestop-completes-market-equity-offering-program-0) + +Let’s see how these T+35 events perform, in the 5 trading days from each T+35 date: + +&#x200B; + +[5 day impact of the \\"Hidden\\" T+35s](https://preview.redd.it/ynn20duqwra71.jpg?width=535&format=pjpg&auto=webp&s=d0e205d889727a00af8439d1800a56516cf75816) + +As you can see, these T+35 dates had a marked impact on the share price: + +* Since ‘Day Zero’, 9 out of 10 occasions have provided double digit percentage gains (90%% success) +* Only one such date failed to provide very positive momentum for the stock +* The next two T+35 dates are coming up, on 14th July and 28th July, as a result of the most recent ATM offerings + +&#x200B; + +# 4. Aren’t These Just Random Dates Within The T+21 Cycle? + +Good question, as that is what I was wondering myself i.e. whether I am incorrectly attributing cause and effect. However, what I found was in fact this: + +* In most cases, the T+35+5 days periods were happening a few days *before* the T+21 dates i.e. if anything, T+21 was building on gains that the T+35s had already provided +* The start of the T+21 cycle falls smack bang in the middle of the initial two dates in August when RC Ventures first bought GME shares +* I conjecture the SHFs saw Papa Cohen’s move as a threat to their plan, and started heavily shorting the stock at that time, thereby falling into the T+21 cycle from August 24th onwards +* 24th June is one of the few T+21 dates that are not surrounded by some T+35s, hence possibly why the SHFs were able to prevent this days from being a green candle + +&#x200B; + +# 5. Some Additional Confirmation – Movie Stock + +I know that some of you Apes feel this other stock should not even come into the frame, but I happen to believe they have been heavily shorted as well. So I was thinking that if the above theory is correct, similar actions and announcements made by the movie company could also have corresponding price "Hidden" T+35 upticks on that stock as well. Here is firstly what the T+21 price action on that stock has looked like (note that as it is being manipulated in the same way, the T+21 dates have actually been the same as for GME): + +&#x200B; + +[5 day impact of the T+21s on the movie stock](https://preview.redd.it/j8r92616xra71.jpg?width=465&format=pjpg&auto=webp&s=dca6368ba3d1dfd33edccfc8fa074669921ba385) + +And here some similar actions taken by the movie company to GameStop - note that I cannot paste links, as they contain the name of the stock: + +***Category A*** + +* $100 million in debt funding received from Mudrick Capital, announced on 11th December and completed on 15th January +* $230.5 million funded through sales of stock to Mudrick Capital, announced and completed on 1st June + +***Category C*** + +* ATM offering of 164.7 million shares, announced on 25th January and completed on 27th January +* ATM offering of 43 million shares, announced on 27th April and completed on 13th May +* ATM offering of 11.55 million shares, announced and completed on 3rd June + +As before, here are the effects these news annoucements have had on the stock price: + +&#x200B; + +[5 day impact of \\"Hidden\\" T+35s on the movie stock](https://preview.redd.it/gpwridghxra71.jpg?width=531&format=pjpg&auto=webp&s=658a53ea9b238eb9e3e9b1359c2a5a2974b3a309) + +As you can see, again very positive impacts on the share price 35 calendar days after each was announced. In particular, the huge Gamma Squeeze the movie stock enjoyed in late May / early June was when a number of these T+35s and T+21s were all grouped together at the same time… + +&#x200B; + +# 6. What Next? + +It appears to me that these T+35s are in many cases feeding into the T+21s, rather than the other way round. And as u/JaboniThxDad said in his DD, that the timing of many of them is very interesting... For both GameStop and the movie stock, in fact. As you can see, we have some huge dates coming up for GME in the next couple of weeks: + +* T+35 for the announcement of the 5.0 million shares ATM offering on July 14th +* T+35 for the completion of the 5.0 million shares ATM offering on July 28th +* These are sandwiching the next T+21 on July 26th + +This is precisely the kind of grouping we saw in January and May, and also the conditions the movie stock had before it Gamma Squeezed in early June. So I would not be surprised if things become even more fun as we head into the second half of July! Of course if not, then I just keep BUYING and HODLING...same as I have for months now. + +&#x200B; + +**TL;DR:** RC Ventures getting into GME in the first place, early redemptions of senior notes, and the two ATM offerings all appear to have created their own "Hidden" T+35s. These also appear to be more reliable and have a bigger impact on upward momentum of the share price than the standard T+21 cycle dates. In many cases, they have preceded the T+21 cycles dates, and the most impactful have been when T+21s and the "Hidden" T+35s have been grouped together (further confirmed by the movie stock having the same trends). The next such grouping of various T+35s and T+21st are coming on July 14th, July 26th and July 28th, so we could have some very positive price action soon... +And I tell her..... + +We are slaughtering the dark pool.... + +And even if we aren't, doesn't fucking matter. We are rich or we are poor. We buy Ferraris or we use food stamps. This isn't a game. I tell her, all apes know the rule.... stock goes to stupid telephone numbers, or stock goes to zero. All apes are ok with either outcome. I try to tell her, apes are too smart to pass on this. I hodl until life changing money. The funny thing is, I know none of you, but I know you're just like me. Love you all. God speed. Death before dishonor. World needs to change - we are the catalyst. + +Edit: thought this was obvious. It's not going to zero. Ever. +Any landlords on here just curious if it has been a success for you guys. I personal have 42 single family homes and have been doing it for 16 years and definitely has its ups and downs. +[Danske Bank CEO resigns after being named suspect in Dutch probe](https://www.reuters.com/article/danske-bank-moves-idUSL1N2MC07Z) + +> COPENHAGEN, April 19 (Reuters) - Danske Bank Chief Executive Chris Vogelzang resigned on Monday after Dutch authorities named him as a suspect in a probe into violations of money-laundering regulation at Dutch lender ABN Amro, Danske Bank said in a statement. + +> Carsten Egeriis, chief risk officer, will take over as chief executive effective immediately, Danske said. (Reporting by Nikolaj Skydsgaard; Editing by Christopher Cushing) +Tipping is a means of taking the burden of paying a business’ employees off of the employer and putting it on the customer. But what would the implications be if this burden was put back on the employer? + +People that support the tipping system often make the argument: + +“If you do good work, you get tipped well, and if you don’t, you get tipped poorly. This gives employees the incentive to perform well at their job.” + +However, I think it’s naive to assume that people are going to tip you well even if you do good work, considering that tips are *optional*. In my opinion, an employee shouldn’t be denied a livable wage just because people are assholes. + +Also, If wages were increased employees would still have plenty of incentive to do a good job because managers could simply keep a closer eye on their employees’ performance and fire employees that are performing too poorly. European countries already do this and it seems to work, so why not do it in the US? + +Another counter-argument that I cannot really refute because I don’t know enough about economics and is the reason I’m asking this question here is this: + +“A wage increase would be in vain because living expenses would go up.” + +Would increasing wages *really* make living expenses go up to the point where it wouldn’t even make a difference, or even make everything worse by significantly devaluing everyone’s income? Or is this argument just a cop-out that corporations that employ wage laborers use so those at the top can line their own pockets at the expense of their employees? +I'm finishing up last semester of a bachelor's in economics and planning to apply to master's programs next month. I'm currently taking 5 classes but the rough part is calculus 3 AND Linear algebra at the same time. I'm beginning to think taking linear algebra without having already completed calculus 3 was a mistake since i don't know vectors yet and my divided attention is contributing to both classes starting off poorly. Like poorly enough where I'm like ... maybe I shouldn't go down the economics route (even though those classes at the undergraduate level have been easy for me) and perhaps I should do something less quantitative. I worry about making it through these classes and then trying to do real analysis next year. Some have told me to just chill out and don't worry about individual classes but I worry they are too relaxed. +Seems like everytime I come on here and open a thread made by someone looking for info on trading, there's always that one guy who goes + +"Indicators are only formulas based on price, indicators bad, price action best!" + + + + +We understand you have a method of trading based on price action which works for you. But discouraging newbies from testing out indicators and possibly creating their own system out of it is unnecessary. As much as people like to rag on indicators, there are many traders out there who use them alone, with great results. It's just a matter of finding the right one. + +Same goes for the argument of fundamentals versus technicals. Because one did not work for you does not mean the other is garbage. Both sides of the argument always have this rigid idea that as long as the one they use is working, the other is useless. Which is simply wrong. I just got tired of seeing traders bicker between one another about which system is better when the judge of it all should simply be *which makes money.* If it makes money consistently for you, you're doing something right. Enough with the unnecessary arguments. + + + + +/Rant +In 2013 - 2017, volatility was often at record lows, like 12% or even as low as 9% sometimes. This year, it's been 30%+ and steady. + +If you traded options the theta gang way in 2013 - 2017, how was your % return on an annual basis and how does it compare to 2020? In 2020 the premiums were \~3x higher or more, but the buying power reduction was also greater. +🖼 The Big Picture is BEAUTIFUL - 👉 StonkBot Repost 👀 Profit to the People. Power to the Players. 💎✊ + +"Finance is mostly run by old dudes, at the top anyway. Virtually none of them understand the internet. They all think their closed-door deals and underhanded strategies are as well hidden as they were back in the 80s, and they think their lil PR soundbites are all anyone pays attention to. They don't understand just how big the mountain of public data is, and they don't understand how the community is collating this information, so they blame DFV and Cohen. It's why they're gonna lose. + +What's happening online with retail investors isn't "market manipulation," it's Communal Intelligence, a role I think the internet could play heavily in the future and possibly the only true competitor for genuine AI; algorithms cannot compete with a pool of dozens of thousands of lived experiences focused on the same goal.  A million apes on typewriters occasionally accidentally smash out finance textbooks, apparently. + +Over the last few months we've seen hundreds of volunteers, most working alone, poring through mountains of public data to put out quantities and qualities of free research I'd expect from paid professionals and committees, and this data is then fine-tuned by the community as a whole.  Sure, some fluff and shilling makes it through sometimes, and maybe the hype blinds us a bit sometimes, but on every great DD there are miles of threads of people debating (with sources!) the finer points, and what truly validates it all are the "experts" in the pool -- longtime traders, lawyers, accountants, and more -- who \*know\* the numbers and the fundamentals and the laws and policies, and who \*also\* know this shit isn't adding up. + +In the After Times, if we can keep this same energy and these same methods and same growth, there could be a lot of good, lasting changes through deep communal investigation and education; this is what the internet was \*made\* for, the free and public dissemination of information and knowledge, and I'm just \*really\* excited to see how it continues evolving over the next decade or two." + +AUTHOR: Unknown, but i sense overtones of OG silverback warrior ape ... thank you OP. 💪 + +[OP: The Big Picture is BEAUTIFUL](https://www.reddit.com/r/Superstonk/comments/mzyo82/the_big_picture_is_beautiful/?utm_source=share&utm_medium=web2x&context=3) 👀 + +* [https://www.reddit.com/r/Superstonk/comments/mzyo82/the\_big\_picture\_is\_beautiful/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/Superstonk/comments/mzyo82/the_big_picture_is_beautiful/?utm_source=share&utm_medium=web2x&context=3) +I don't know if you guys follow any value investing channel on YouTube. All the channels I follow almost all of them cover Baba and tencent extensively and for almost all of them baba is an excellent value play with it own risk but a fundamental good play. + +All those channels offer also other company analysis but none of them are as cheap as baba. + +They also offer premium content and ALL of them shill their premium content by claiming they have even better companies that offer better returns than baba. + +They mostly say that they own baba but it's a small portion of the portfolio and that they have a better company and to find out join their premium list. + +So I wonder what you think about it, is it all marketing tactics or they have good company that no one has find out except them. +Do any of you own Berkshire stock? I have just started buying it and using the dollar cost averaging method to build a position. I do not have a lot of cash and just trying to invest in Berkshire and basically the warren philosophy has led me to buy stocks he likes and owns (Apple, coke, Bank of America… so on) I buy all these at great prices then I sat and thought to myself why not just start buying some Berkshire stock? So that led me to this and was wondering do any of you all own it and what are your thoughts on it if so or if not! Thank you! +My grandpa passed away and left 75k for my sister and I. I have no idea what to do with it. I’m 22. I don’t have any debt nor do I have big bills to pay. I still go to community college. I need help knowing what the next move should be. +The tl;dr is that I overheard a young guy asking at a store about homeless shelters. He’s sleeping in his car. Gave him my number and address and said he’s welcome anytime for a shower and a meal. + + +First up; don’t worry about my safety. My partner’s military police and we have a retired attack puppy who is super protective of me, and my teenage brother’s also living with us. + + +My question is this: how do I help him get onto his own two feet using government and non-government support? He’s receiving NewStart but doesn’t seem to be able to access affordable accommodation at this point. + +He said he doesn’t do drugs but he does smoke. No shoes but still rolling 😂 not that I care, except as it relates to his ability to afford accomodation and other necessities of life. My background is in financial advice and my current studies and research is in economics, with a focus upon entrenched poverty. Left to my own devices, I’m going to scare the shit outta the poor guy with my questions and analysis. Can you give me a step-by-step, practical guide to helping someone in these circumstances? I suspect that only pointing them toward overfilled homeless shelters wouldn’t be much help right now +That's pretty much all there is to say to it. u/substantialsummer634 is mass replying to posts, saying "Ukraine’s official Twitter account tweeted out a call for donations through bitcoin, Ethereum, and stablecoin tether on Saturday." and then adds an Ethereum address for donations. The first part is true, you can find the real addresses in [this very popular post](https://np.reddit.com/r/CryptoCurrency/comments/t26b00/im_uvladimirputin_and_im_asking_you_to_donate/). The address is fake though. + +Fortunately nobody fell for it yet, the last transfer to that address was 47 days ago, but please report the scammer to Reddit - I have done that already. Thanks! + +Edit: just in case their account indeed gets suspended, their posts look like this: "*Ukraine Update: Ukraine’s official Twitter account tweeted out a call for donations through bitcoin, Ethereum, and stablecoin tether on Saturday. I just sent what I could, wish I could do more . Have a. Heart Stand with Ukraine . Here’s the wallet address if you guys wanna donate anything to help. [Wallet address]*" + +If you see something like that, check if it's the real address and if not, report the account +Hi all, 3 of my buddies want to get a house together soon. We found one for 120k and are interested in it. Our oldest friend is putting most of the down payment down (6k of 15 as of now) with the rest of us putting in 3k. He says his plan is to just total up the bills + mortgage at the end of the month, and then split it equally between us. I should mention that the 3k for our down payments follow through on the next couple of month’s bills. + +Is this is best method for us/him? Are there any other suggestions anyone has? +LONDON, Sept 28 (Reuters) - The Bank of England said on Wednesday it would start a temporary programme of bond purchases to stabilise the market, and postpone the planned start of its gilt sale programme. + +Below is the full text of the central bank's statement: + +>"This repricing has become more significant in the past day – and it is particularly affecting long-dated UK government debt. Were dysfunction in this market to continue or worsen, there would be a material risk to UK financial stability. This would lead to an unwarranted tightening of financing conditions and a reduction of the flow of credit to the real economy. +> +>"In line with its financial stability objective, the Bank of England stands ready to restore market functioning and reduce any risks from contagion to credit conditions for UK households and businesses. +> +>"To achieve this, the Bank will carry out temporary purchases of long-dated UK government bonds from 28 September. The purpose of these purchases will be to restore orderly market conditions. The purchases will be carried out on whatever scale is necessary to effect this outcome. The operation will be fully indemnified by HM Treasury. +> +>"On 28 September, the Bank of England’s Financial Policy Committee noted the risks to UK financial stability from dysfunction in the gilt market. It recommended that action be taken, and welcomed the Bank’s plans for temporary and targeted purchases in the gilt market on financial stability grounds at an urgent pace. +> +>"These purchases will be strictly time limited. They are intended to tackle a specific problem in the long-dated government bond market. Auctions will take place from today until 14 October. The purchases will be unwound in a smooth and orderly fashion once risks to market functioning are judged to have subsided. +> +>"The Monetary Policy Committee has been informed of these temporary and targeted financial stability operations. This is in line with the Concordat governing the MPC’s engagement with the Bank’s Executive regarding balance sheet operations. As set out in the Governor’s statement on Monday, the MPC will make a full assessment of recent macroeconomic developments at its next scheduled meeting and act accordingly. The MPC will not hesitate to change interest rates by as much as needed to return inflation to the 2% target sustainably in the medium term, in line with its remit. +> +>"The MPC’s annual target of an £80bn stock reduction is unaffected and unchanged. In light of current market conditions, the Bank’s Executive has postponed the beginning of gilt sale operations that were due to commence next week. The first gilt sale operations will take place on 31 October and proceed thereafter. +> +>"The Bank will shortly publish a market notice outlining operational details." + +Via: [https://www.reuters.com/markets/europe/bank-england-statement-purchase-long-dated-bonds-2022-09-28/](https://www.reuters.com/markets/europe/bank-england-statement-purchase-long-dated-bonds-2022-09-28/) +Kellogg said on Tuesday a majority of its U.S. cereal plant workers have voted against a new five-year contract, forcing it to hire permanent replacements as employees extend a strike that started more than two months ago. + +Temporary replacements have already been working at the company’s cereal plants in Michigan, Nebraska, Pennsylvania and Tennessee where 1,400 union members went on strike on Oct. 5 as their contracts expired and talks over payment and benefits stalled. + +“Interest in the (permanent replacement) roles has been strong at all four plants, as expected. We expect some of the new hires to start with the company very soon,” Kellogg spokesperson Kris Bahner said. + +Kellogg also said there was no further bargaining scheduled and it had no plans to meet with the union. + +The company said “unrealistic expectations” created by the union meant none of its six offers, including the latest one that was put to vote, which proposed wage increases and allowed all transitional employees with four or more years of service to move to legacy positions, came to fruition. + +“They have made a ‘clear path’ - but while it is clear - it is too long and not fair to many,” union member Jeffrey Jens said. + +Union members have said the proposed two-tier system, in which transitional employees get lesser pay and benefits compared to longer-tenured workers, would take power away from the union by removing the cap on the number of lower-tier employees. + +Several politicians including Bernie Sanders and Elizabeth Warren have backed the union, while many customers have said they are boycotting Kellogg’s products. + +Kellogg is among several U.S. firms, including Deere, that have faced worker strikes in recent months as the labor market tightens. + +https://www.cnbc.com/2021/12/07/kellogg-to-replace-striking-employees-as-workers-reject-new-contract.html +&#x200B; + +[Dong,2019,page 899](https://onlinelibrary.wiley.com/doi/epdf/10.1111/1756-2171.12299) documented that: + +>"To avoid any endogeneity of the industry structure, we base the weights on the data +> +>in the year 1990." + +I do not understand what does "endogeneity of the industry structure" means in this context, and why we need to base the weights on the data in the year 1990 to avoid this issue? +I've been a member of this evolving community of individual investors since January. I've seen a lot of memes that have helped the community feel a shared sense of humor and appreciation of the absurdity of our situation. Memes, while perhaps not as essential as DD, education, and information, are a vital part of this subreddit. + +However, the Rising section of r/superstonk is chronically plagued by a flood of low effort memes, reposts, and screenshots of Robinhood stock charts. + +Now, I do not claim to be the arbiter of what is funny, original, or helpful. But I think it might be helpful to inspire fellow members of this community to exercise their right to downvote posts that seem, to you, unhelpful or even detrimental to the community. + +On several occasions, a flood of similarly-themed memes will clog up the subreddit's feed. Sometimes, these memes are just genuine attempts at original content. But other times, these memes perpetuate misinformation or nonsense. + +Lately, the anti-Gary Gensler memes have come out in full force. These memes are not educated attempts at critiquing the SEC's efforts (or lack thereof). Rather, they are crude depictions of Gensler performing homosexual acts. They are accusations that Gensler is actively and intentionally aiding Citadel and SHFs. And they are insults against his character. + +Look, I am very aware that Gary Gensler has played a role in the development of the fraudulent US financial system. But there is a difference between critical rhetoric and hateful shitposting. + + To be clear, I am not saying that memes criticizing Gensler ought to be downvoted. And I am not trying to police what types of posts ought to be allowed. You can completely disagree with me, and that's the beauty of Reddit. + +I am arguing that individual members of the r/superstonk community have the ability to determine what content this subreddit produces. The content produced by r/superstonk, will be noticed by media, historians, and potential members. Thus, I encourage readers of this post to exercise their right to upvote and downvote, by filtering by New and Rising more often. Play a role in determining which content represents this subreddit. + +I believe the individuals who post unhelpful content are the minority. I believe they do it to karma-farm, to spread FUD, or because they are immature (I admit that's a bit judgmental). That shills and bots patrol the New posts is common knowledge. Rather than allowing them to determine the popular content of this sub, consider taking a more active role in controlling the content that represents the community which has fostered such an amazing awareness of market manipulation. + +As a final word, let me just say that I am very grateful to the mod team, and those who have an active role in producing DD, education, information, and hilarious memes, all in the spirit of supporting our favorite video game retailer. And another thanks, to all those who *do* actively participate in upvoting and downvoting posts. + +--- + +***This is not financial advice!*** +*This post was **anonymously** submitted via **[www.superstonk.net](https://www.superstonk.net/)** and reviewed by our team. +Submitted posts are unedited and published as long as they follow r/Superstonk rules.* +Those who like to buy stocks, how are buying? Are you averaging down at every big drop for existing holders and for stocks you don't hold, which stocks have you bought during this sale and if not bought yet are you waiting for further correction? Also Is there any stock that you have gotten rid of during this correction and why? +Context: married 49 year olds 3 kids youngest starts college in fall. Have 6 bedroom house including basement in-law suite in nice neighborhood with good school district. No mortgage and no other debt. The house was worth about $650K not long ago but realtor now thinks upper $700s due to no inventory in our area and high demand. This seems insane to me (if I am considering the purchase from buyer's perspective.) Should we strike with the iron is hot and "dump this pig?" + +We don't need the space anymore and we don't need the school district. All 4 of our parents are now gone so we no longer need the in-law suite either. + +Further context/goals: + +I also own a home in Costa Rica (no mortage) which is where we plan to move once kids are a little further out of the nest. We just bought another larger piece of land in Costa Rica and we plan to build our "dream" home for retirement. We need several hundred thousand dollars to build the house we want. We will live in the current Costa Rica house when building the dream house so we can supervise construction. This was 2-3 years out but if we sell the primary residence we could start construction sooner. + +We have about $1.9M in retirement accounts, $300K in non-qualified investments plus kids college money is already set aside. + +The downside to selling is that we are not quite ready to completely move our lives to Costa Rica and apply for residency. We will need a place in the US for at least another 1-2 years I think to further set up for FatFire, get the kids well on their way, and for me to get set up to be an absentee business owner. We would have to either buy something smaller or just rent. + +To buy something smaller kind of defeats part of the purpose of being a seller in a seller's market so we are thinking to maybe just rent for a year and see how it goes. If the real estate market pulls back (or crashes) we could maybe pick up a condo to keep long term to have a "base" in the US. On the other hand our kids are heading all over the country so there is no need to stay in our original area. + +So.....sell the house? Be a renter when trying to FIRE? Seems counter-intuitive but givn the circumstances? + +I would be concerned about up-ending our youngest in her senior year of high school but COVID has already done all the upending that is possible and there is little more harm that can be done. + +Any general thoughts/predictions about what the real estate market will do? Seems that interest rates will be held down for some while which may support values but....so little inventory right now and homes are selling instantly for above ask. +Just discovered this sub and, understandably so, many of the posts seem focused on younger individuals and families that have more time to save and accrue. I was always a poor financial manager, but I just got married, I’d like to start a family, purchase a home, and start thinking about my retirement. + +Some facts: + +- I earn about $350k a year, although this isn’t entirely steady as 25% of that are RSU distributions from my company (FANG company). +- I didn’t save anything for retirement until I started here 3+ years ago. I now have $50kish in a 401(k) but that’s it. +- We own a condo that we’ve been renting out for a few years, but currently rent our primary residence at a high cost ($3500/mo in an expensive area). +- I have a relatively high appetite for risk personally, but that’s a little reduced now due to having other people that depend on me. +- I have an emergency fund of ~$30k. +- I plan on maxing my 401(k) next year. +- I have a maxed HSA. +- We own both of our vehicles and they are paid off, though we would like to at least sell one and purchase a newer one in the next 18-24 months. +- I am a veteran and am considering using VA home loan benefit to purchase this year but I’m not sure if this is best idea. + + +Are there any things I should be looking at doing to best prepare for the future, as well as maximize my earnings while they are relatively high? There’s so many things I could be doing - index fund investing, stock investing, IRAs(?), real estate, etc. - but it’s all a bit overwhelming and I’m not too sure where to start. Any general advice to give or resources to point me to? Sorry for the broad question, but ever since getting married, I’ve been thinking about this constantly and I’m not sure where to start. +Hello! I’m 21 and still very new to money management and investing. Unfortunately, my mother passed away recently. The house will be sold soon and after the money is divided among all my siblings and step siblings, I’m looking at getting at least 10k. I am by far the youngest sibling, all my siblings are actually older adults. My mom didn’t want me to get that kind of money until I’m older, so from my understanding the money is being placed in a trust fund until I am 26. My grandpa is in charge of it. + +I’m just wondering is there any type of savings account this can be put in or anything it can be invested in in the meantime? That’s 5 years from now so I would like to see it grow if possible. Is that even possible with a trust fund? + +Also I’m honestly not entirely sure how a trust fund works and not all my siblings are the greatest people, so I feel like not knowing where this money will be at makes me vulnerable. If anyone feels like explaining to me what a trust fund is and how it works that would be amazing. Thanks so much in advance! +Fidelity removed option to select "All or None" when choosing IEX (or XNYS) exchange while placing 100 share order through Directed Trade. + +&#x200B; + +https://preview.redd.it/m68zoz59u6381.png?width=1254&format=png&auto=webp&s=864e7125382cab9253b8166316947d582567a5a3 + +Before IEX, I used to route 100 share buy orders through XNYS and selected "All or None" option. But now they removed it when selecting XNYS or IEX, and you can only choose "All or None" when you select route to AUTO. + +&#x200B; + +https://preview.redd.it/8hd533luw6381.png?width=1269&format=png&auto=webp&s=e104c7298b169a86ef9542d4de5703e74af99db2 + +This way they can break down 100 share orders or send them to Kenny to not affect the price. +**Does money make you happy?** + +Richard Easterlin (1974) wrote about the [Easterlin Paradox](https://www.sciencedirect.com/science/article/pii/B9780122050503500087), where he concluded that within a country there was a positive correlation between income and happiness (one of the first economic papers on the subject) + +Is this the same for you? As your income has risen, has your happiness also? + +There are *many* conflicting ideas and papers on this subject (I wrote my uni diss on this topic). Some include: money brings you happiness up to $10,000 (basic needs), money brings you happiness up to £70,000, money doesn't bring happiness at all: it's all genetic and social etc. etc. + +For me I have seen in my life that when I have been happiest I have been the most successful. With the relationship being mainly happiness = success, not success = happiness. With my "happiness" coming from: + +* Spending time with friends +* Spending time with family (sometimes) +* Spending time on hobbies, feeling engaged in multiple things, work + hobbies +* Strong connections with people and my community + +I can imagine when my responsibilities add up (I'm only 24) having money will decrease stress and allow me to work on "life problems" and less so on "money problems". But that happiness isn't derived from how much I earn? + +**What do you think?** +I have blown through so much money over the last several years because I always think,” Oh I can buy this burger its only $12!” or “$25 to Uber somewhere? Yeah sure whatever!”. Then it adds up over time and I end up spending $1000 on whatever. + +I remember as a kid thinking it was so weird how my parents would hold off on buying soda at the restaurant to save money, but I’m really starting to wish I could have that same mindset. + +If I purchase something that’s $50-100 I usually am super careful about it but for some reason anything below that and I’m not worried about it because it’s only this $30 this one time not a big deal. +As title states, this was discovered months ago when the first gmerica tweet went out. The owner of the domain is some random from Colorado USA*. If you sort by new, people are freaking out that it is redirecting to some Roaring Kitty videos. It’s stupid easy to have a website redirect somewhere else. So, calm your tatas. Someone probably stole (bought before really) the domain from GameStop themselves forever ago. Relax and think critically before getting too much hit of the confirmation bias. + +Edit: Domain owner info is set to private per whois database. The registrar is based in Colorado, USA. The IP address it resolves to belongs to a Softlayer Technologies who are based in Dallas, TX. They appear to be a hosting provider. The fact that they are based in DFW is probably pure coincidence. Server itself is an nginx based web server who has a 301 redirect to a Roaring Kitty video. +[https://www.cnbc.com/2022/08/05/jobs-report-july-2022-528000.html](https://www.cnbc.com/2022/08/05/jobs-report-july-2022-528000.html) + +&#x200B; + +Hiring in July was far better than expected, defying signs that the economic recovery is losing steam, the Bureau of Labor Statistics reported Friday. + +Nonfarm payrolls rose 528,000 for the month and the unemployment rate was 3.5%, easily topping the Dow Jones estimates of 258,000 and 3.6% respectively. + +Wage growth also surged higher, as average earning earnings jumped 0.5% for the month and 5.2% from the same time a year ago. Those numbers add fuel to an inflation picture that already has consumer prices rising at their fastest rate since the early 1980s. +**Strategy Design Write-up part 2:** + +Hello again, + +Thanks for all of the feedback on my last strategy post. Many people pointed out that "Short Fuse" had a lot of hindsight bias and I would have been better off just shorting the market and holding. So, I went back to the drawing board looking for a way to find a balance in my strategy that could yield more consistent returns in any market condition. Lol that didn't happen. Given the sheer aggressiveness of that strategy I could not find a balance without completely changing everything, so I scraped it. + +All of that said, I am here to present my next algotrading strategy: "Bands on Autopilot" + +**Part 1: The Strategy Build** + +https://preview.redd.it/r80srcnd87d91.png?width=1244&format=png&auto=webp&s=c955d73567e31e8afc876d1c62781f07f8200a63 + +Bands on Autopilot looks to utilize the 20 bar Simple Moving Average (SMA) by comparing is value to the 20 bar Exponential Moving Average (EMA). Bands on Autopilot also looks to utilize the Middle Bollinger Bands and compare it to the 20 bar SMA. It should be noted that the Bollinger bands are using a standard deviation of 2. To execute a buy order, the 20 bar SMA must be less than the 20 bar EMA. Or, a trade can be opened when the Middle Bollinger Bands are less than the 20 bar SMA. + +Great, so we have the tools we need to open a trade, how about close it? Bands on Autopilot executes a sell order when the 20 bar SMA is greater than or equal to the 20 bar EMA. All trades for this strategy are performed on the 1 hour time frame. The strategy looks to the following assets to trade on: AAPL, AMZN, MSFT, and GOOGL. + +**Part 2: Strategy Performance** + +In this section I will review the backtest results of Bands on Autopilot. The two backtests I want to explore are the how the strategy performs in the year of 2008 and the year of 2021. Obviously the year of 2008 was extremely bearish and the year of 2021 was extremely bullish. + +In 2008, the S&P500 (my benchmark) returned -38.95%. When the entire market does this poorly, you can bet that practically any individual stocks during this time also perform poorly. The assets I chose to trade on suffered, managing to drop -49.55%. However, Bands on Autopilot is rather good at stomaching these drops and mitigating loses. Here are the results for the 2008 crash: + +https://preview.redd.it/ouygcc1f87d91.png?width=1128&format=png&auto=webp&s=4c477c03cb63b399bfd4ddd826220bf8ea0bfb84 + +After looking over the backtesting data provided above, you can see that the 4 assets I traded on lost \~50% and this strategy a decent -22.40%. Not the greatest results in the words but dodging a 25% drop is something to be proud of. Dodging this bullet does come with some risk as my strategy has a sharpe ratio of -0.75. A poor sharpe ratio in this market environment is honestly not super surprising. It should be noted that I only had a risk of losing 33.91% while the assets I traded on lost far more. A poor risk score in this market environment is honestly not super surprising. + +Alright, so we established that this strategy can hold its own in a very aggressive bear market, how does it do during the face ripping bull markets? Here are the backtest results for the 2021 bull market: + +https://preview.redd.it/ffh9a02h87d91.png?width=1128&format=png&auto=webp&s=e66b8b59e82ae2712642688806f6853a789c2957 + +Wow! This strategy really does shine in a bull market, returning close to 40% while the S&P500 returns 26.54%. These returns are backed by low risk potential and a great sharpe ratio of 1.5. Note: the assets I traded on also beat the S&P500 by a solid 11% and still performed worse than Bands on Autopilot. + +**Part 3: Conclusions** + +I designed this strategy with intention of outperforming the market in bullish and bearish periods while remaining consistently risk averse. This balance comes at the cost of huge gains, but you are rewarded with a level of trading safety that is similar to the S&P500 all while producing higher returns. Bands on Autopilot could likely be pushed further with more experimentation and the introduction of stop losses/take profit functions. I plan to play around with that and make a future post. For now, I would love to hear your feedback on this strategy! "The best market strategies are ones that perform in a consistent manner during all market conditions. Risk management is everything when you have everything to lose." +I inherited a tenant that was playing loud music at all hours of the night and having friends over where they would have weird screaming parties (drugs maybe?) + +Anyway, I send him a 30-day notice to leave the premises and he calls me going ballistic. "This is bullshit". "We are going to have real problems" "You don't know who you're talking to" "I'm a real ni\*\*a. + +Naturally, I hire an eviction attorney but I'm lowkey worried about going to the property. It's a 3 unitsin which one unit I'm still getting rent ready. I don't know what to do. I'm going there tomorrow to meet with a plumber but I'm concerned he could get aggressive. + +Thoughts? +Not sure if this belongs in this subreddit, if not feel free to let me know! + +About 6 months ago I finally got a salaried job. After more than a year of struggling after graduation I finally made it! + +The job has been great, but I've found that most of my coworkers seem solidly middle class if not higher, and I feel like the odd man out sometimes. I don't know how to talk to them when they talk about visiting vineyards and going skiing and traveling around the world when my family could barely scrape by all my life. + +I want to get along with my coworkers because I see myself at this company for a long time. How do I learn to relate to these people without outright lying about my past? + +Tl;dr My coworkers are rich and middle class and idk how to get along with them as a poor person. +So this post is on the front page about 212 not facilitating transfers: https://reddit.com/r/Superstonk/comments/obk7qj/update_on_t212_share_tranfers/ + +So wut do? + +If you’re in the uk there is one thing. It’s called the financial ombudsman service (FOS). It’s great. Banks don’t like it because it gives customers power. Banks will just straight up pay customers, depending on complaint, to avoid dealing with the ombudsman service procedure. + +Now when do banks ever willingly given out money? + +It’s because complaints procedures in finance are regulated. You **have** to deal with them. You have to have a formal complaints procedure. You have to respond to the Financial Ombudsman. You cannot ignore this. This is why banks and the like always try to just deal with complaints ASAP and rather pay out directly than have to bother doing the whole complaints thing. + +The only caveat here is you can only goto the FOS after you have complained to the financial service, and they have responded to your complaint but you aren’t satisfied. You can’t go directly to them in the first instance. + +So What UK apes can do is formally complain to 212 about refusing share transfers after a change in policy made them want to leave the platform. + +212 will eventually respond, likely saying “soz no can do”. But That’s good though. It means you can goto the ombudsman. + +Goto the FOS & They’ll start an investigation. It takes time but they do it. They’ll really start an investigation if they get numerous similar complaints… + +**So** + +Do this. + +Complain to 212 using this email - **info@trading212.com** + +Make sure you include the following: + + complaint sent by the client shall include: + +- the client’s name and surname; +- the client’s username; +- the date on which the issue arose; +- the affected transaction numbers, if applicable; and +- a clear and logical description of the issue. + +Every 212 user should do this. + +When they respond and say no, goto the Ombudsman and fill out their form here - https://www.financial-ombudsman.org.uk/consumers/how-to-complain + +Ideally they fix their shit, but if they don’t then every 212 user goes to the UK FOS, it will cause a shit show for their compliance team & forces them to, you know, let people transfer their own fucking assets. + +This is the way. It may take time, but it will annoy the fuck out of them & will lead to them changing this policy, one way or another. + +*Source worked in uk banking.* +I noticed some posts on here recently about people feeling guilty about spending money, even though they can afford it and have budgeted for it, since it's hard for them to get out of the "frugal" mindset. The general response seemed to be that they should learn to accept that it's okay to spend money on some things—that's what setting a budget is for, after all. + +While this is great advice, I seem to have the opposite problem of these people—I am a bit *too* okay with spending money. I have a set amount of "fun" funds that I set aside every paycheck, but because I'm lucky enough to not have anything I really need to save up for, every so often my fun funds will pile up and I'll find myself looking for things to spend my money on—because heck, I've already budgeted for this, so it should be alright, right? But the thing is, I don't really *need* these things, and sometimes don't even want them that much to begin with; I'm literally just looking for an excuse to waste money. It actually got kind of stressful because I wanted to "make the most" of my budget but had nowhere to spend it (sounds crazy, right?). A few months ago I spent almost $3000 on an instrument that I've played maybe twice since then. Looking back, did I need to spend that $3000? Probably not. I could've put that money in the S&P500 or something instead and made $300, and I probably would've gotten more enjoyment out of seeing my portfolio go up $300 than I got from playing that instrument twice. + +So I guess learning to be okay with spending money can be a double-edged sword. If you're someone like me who might spring for the next "upgrade" just because you can afford it, even though it's more than you need and isn't as good a value, it might be helpful to take a step back and consider whether or not that upgrade is really worth it. Since coming to that conclusion, I've cut back my wasteful spending considerably, and the stress of not "making the most" of my budget is gone. + +Have any of you had a similar experience to mine? +For you 30 year olds who are probably making more money now than you were in your 20s. Or for you 20 year olds who may not be making as much as you would like but are saving by living at home, saving your money. Now is not the time to be wishing the market would be at an all time high. Now is the time to be happy it is low so that you can contribute to your retirement accounts and your brokerage accounts. + +Don’t listen to your boomer uncles saying that this market is crazy. It’s crazy for them because they are about to retire. This is great for all of you young folks. + + +Keep buying VTI and this thing will all blow over soon enough. Friday is payday, make sure your 401k contribution is 15% of your paycheck. +My property manager and I discussed this issue at length yesterday and I wanted to see how you guys are handling this. What we came up with: + +Rent is due on the 1st, if they ask for assistance we will accommodate. If they can’t work I don’t expect them to pay and I will not pursue an eviction. + +I spoke with my bank (private bank) regarding my commercial loans, they’d consider mortgage deferment if I can show severe loss of rents related to the pandemic. + +For those renters that can’t pay April or even May, I don’t know what recourse I can expect. I think I’m going to just have to eat it, it’s not like they’ll be getting back pay. + + +Thoughts? +Dear Apes + +I am watching a documentary on Amazon Prime called "The Inside Job". I have not finished watching it, I just stopped it to run over to my laptop and check something. + +In that documentary, the reason banks were able to do all sorts of wacky bullshit - First selling **collateralized debt obligations** (CDOs), which were all the bad mortgages packaged into a high quality McHappy Meal, then later betting against CDOs - was because of essentially bribing regulatory bodies to give them a high rating. + +In the movie the big short, this is the part where they go to the lady who "Is blind to the actions of wall street" and also "Can't see because of her eye problem". This is the part where Steve Carrel talks to her and starts shitting his pants. + +So in order for these shitty mortgages to get good ratings, Banks bribed/paid/made deals with **Standard & Poor's Global Ratings**, **Moody's**, and **Fitch Ratings**. + +As soon as the bribery got put into play to get higher ratings, these agencies saw an increase in profit. + +So, I stopped the documentary, ran to my computer, and loaded up the old google. + +You're Welcome. + +[https://youtu.be/T2IaJwkqgPk?t=3322](https://youtu.be/T2IaJwkqgPk?t=3322) + +&#x200B; + +https://preview.redd.it/jqdb4f3p7qw61.png?width=1040&format=png&auto=webp&s=df8ccce3e6a3fa0f5cd9a2b21b746d45692f85c9 + +As you can see in the above graphic... Something happened in late January that caused the price of Moody's and S&P Global rating agencies, to suddenly start trending upwards. They were down 10% and then from Late January, suddenly saw an increase of performance of about 25%. + +I could not find Fitch for comparisons + +So if I invested $1000 into Moody's or S&P, I'd have made back at least $200 (20%). What was the best date to guarantee that bottom investment that would continue to climb? What date was the bottom of the rating agency dip? + +January 28th, 2021 - Spike day. + +Now, lets look back as this is just year to date. + +&#x200B; + +[Moody Blues, Red is SPGI](https://preview.redd.it/8mshl6d99qw61.png?width=1919&format=png&auto=webp&s=bcb73a4e1e979793b1506c4c9686f9fa07d01792) + +Something is up. + +The new above graph is a zoomed out picture. You can see that the rating agencies had this hill that was coming down. Then, Jan 28th and the initial squeeze that was RH halted. Suddenly, Rating Agencies became super sexy and the stock went up 20%-25%. + +Coincidence? I think not! I think smarter apes need to look into this. Maybe there is another factor in play. Biden, Politics, The Economy... + +But what if Robinhood was put under pressure by EVERYONE on Wall Street and we really put their dick in a blender that day, but didn't know about it? What if they have been having late night meetings since late January? What if they are now bribing and doing everything needed to get good ratings on investment products that are super toxic, but matured in toxicity too fast thanks to our squeeze? + +TL;DR - Smarter apes need to look over the data. Smoother Apes - Need to watch "Inside Job" on Prime and notice that during the 2008 recession, banks bribed rating agencies and those agencies saw a rise in stock. Same shit is happening again. BULLISH. + +\--------------------------------------------------------- + +Part 2... Basically... LOL + +Edit: I added more thoughts and made this thing longer. Yikes! + +I am no u/Rensole, I am no [u/atobitt](https://www.reddit.com/u/atobitt/), I am no genius ape. I think those guys need to look into this, and using their bigger brains, connect any dots, if there are any. + +Basically I am suggesting that ratings agencies are seeing an increase in business/profit because our hedge fund friends are paying them handsomely for good ratings. That's how rating agencies made billions in the 2008 crash. + +Why would rating agencies need to be bribed/bought off? What is the underlying asset that is worthless, which requires going to an agency and paying them for a better rating? I sent them an email and we'll see what they say in response. Just asked what's popular right now. What the hot new thing is. + +I think this has less to do with Hedge Funds and more to do with banks. Specifically bankers. Hedge Funds are a group of investors that pool their money together, and ideally make returns on their investment, by long/shorting the market (among other things). Basically that's a Hedge Fund. Bankers, specifically investment bankers make lots of money. In 2008, Investment bankers created a crisis by selling CDOs as an investment product. That later fell apart because of sub prime lending. With those delicious tendies, they bought nice stuff, sure. But your local bank only insures X amount. In Canada, a bank insures only $250,000 max. You need to put your money somewhere safe. So you invest in the market. You buy individual stocks, sure. But you also invest in hedge funds. Which Hedge Fund would you invest in? The best, right? Who is the best out there... Citadel. Citadel has the best reputation in the financial community. + +So you're a rich banker, maybe even CEO of a bank. You give your money to the guy with the most expensive apartment in New York City. He knows what he's doing, he's so rich, he lives on Park Ave. + +You're not just a lonely rich banker, you have a community. Globally. These are the guys staying up late at night on the weekends. What is going on, that all these people are up all night on the weekend? + +The purpose of a ratings agency is to assign - what is believed to be an audit - of a corporation's or government's debt. So Canada got downgraded last year by Fitch from AAA to AA+. A ratings agency would be needed for rating bonds. Who is offering bonds? Lots of corporations! Bank of America, JP Morgan, Goldman Sacks, Citadel did $666m bonds. + +You know who also sold some bonds recently? Donald Trump. 1/3 of his portfolio is a 30% stake in a CMBS - Commerical Morgage Backed Securities - with Vornado. Vornado did some re-financing, and that meant a windfall of $600m for Trump ($1.2B all together) his CMBS is rated AAA. + +[https://www.bnnbloomberg.ca/trump-scores-617-million-of-cash-with-vornado-from-tower-bonds-1.1597650](https://www.bnnbloomberg.ca/trump-scores-617-million-of-cash-with-vornado-from-tower-bonds-1.1597650) + +So my smooth ape brain understands that that bonds and MBS/CMBS are rated by corporations like Moody's. I understand that banks issued bonds. I understand that even Trump is issuing bonds on his CMBS. I understand in 2008 the bad CDOs that banks sold to people, were known to the banks and that's why the banks bet against themselves. In that same spirit, the banks are aware of what is going on, that we do not know as the public. They're up all night on the weekends. Possibly paying to have higher ratings on certain products. + +Is everyone gathering liquidity for a massive purchasing of assets, once a market collapse occurs? + +Imagine you're a bank. You know shit is going to hit the fan, your business is going to take a big hit. What do you do before that happens? What all CEO cowards do, sell! One investment banker during the great recession of 2008, made half a billion in the 12 months leading to the market crash, by selling his stock in the company. So we sell. Do we sell as an individual? Or... Do we try to get more money? I would absolutely - knowing that shit is going to hit the fan - sell bonds in my business in large enough volumes. Investors and others buy those bonds. I need a good rating, and bribe Moody's instead of letting them look through my books. Now the business has liquidity, cash. Investors, have a piece of paper probably worth nothing soon. All their money is in my pocket. What do I do with that money? You'd think bonuses, but JP Morgan froze raises and bonuses were lower for Bank of America. + +[https://www.bloomberg.com/news/articles/2020-11-30/jpmorgan-traders-set-for-up-to-20-bonus-jump-after-record-year](https://www.bloomberg.com/news/articles/2020-11-30/jpmorgan-traders-set-for-up-to-20-bonus-jump-after-record-year) + +[https://www.efinancialcareers-canada.com/news/2021/01/bank-of-america-bonuses-vesting](https://www.efinancialcareers-canada.com/news/2021/01/bank-of-america-bonuses-vesting) + +So banks offer bonds... Need Liquidity... Freeze pay in some cases... Bonuses are meh... Rating Agencies have higher earnings... + +Maybe the question is leverage. + +During the 2008 recession and the lead up to it, investment banks had high leverage. So for every $1, they have $15 leveraged against it. So if they had $2, they now actually had $30. But if they lost $1, then that leverage is $15 and $15 is wiped off the books. + +**OKAY. I think I got it...** ***Leverage ratio*** **is part of the equation** + +[https://youtu.be/T2IaJwkqgPk?t=2139](https://youtu.be/T2IaJwkqgPk?t=2139) + +Follow me into the rabbit hole for a moment... + +Bank of America currently has a leverage ratio of 9.84. This means that for every dollar BoA has, it has borrowed 9.84. Borrowed Money vs Bank Money. + +[https://csimarket.com/stocks/singleFinancialStrength.php?code=BAC&Le](https://csimarket.com/stocks/singleFinancialStrength.php?code=BAC&Le) + +The Pandemic allowed Banks to borrow more, though this example of the SLR or Supplementary Leverage Ratio that banks need to follow post 2008 crisis. Any ways, the government offered SLR relief, allowing banks to increase their leverage. They can borrow more money. + +[https://www.bloomberg.com/news/articles/2021-03-09/banks-press-fed-to-preserve-600-billion-in-balance-sheet-leeway](https://www.bloomberg.com/news/articles/2021-03-09/banks-press-fed-to-preserve-600-billion-in-balance-sheet-leeway) + +The idea is that if a bank is over leveraged, it will collapse. So according to the documentary, the SEC was lobbied to "raise the roof" and borrowing increased to buy loans etc etc in 2008. More loans meant more CDOs back then. More loans now, means... ??? + +It's pretty simple... If Bank of America, is only allowed to have a limit of X... Lets say the ratio cannot exceed 10... They're at 9.84... If they take on more leverage... They cross into that 10 number ratio area... But.... If they sell bonds.... If they add $15 billion to their assets... In theory... Their roof is increased by another... $147,600,000,000 or so? + +Bank of America made Net $17b in 2020. Raising $15b is like doubling their net revenue for 2020. + +[https://d1io3yog0oux5.cloudfront.net/\_193a0c09ad0bfe7020b2c883716216c5/bankofamerica/db/867/9129/proxy\_statement/BAC\_2021\_ProxyStatement.pdf](https://d1io3yog0oux5.cloudfront.net/_193a0c09ad0bfe7020b2c883716216c5/bankofamerica/db/867/9129/proxy_statement/BAC_2021_ProxyStatement.pdf) + +So on the surface... $15 billion doesn't sound like a lot for Bank of America. Big bank raising liquidity. Yup. They're raising it, to allow themselves to borrow more money. Why would they need to borrow more money? **MOASS** + +You'd need to keep Moody's happy as things unfolded. Pay them to not change your ratings. Sort of like how for $10,000 you can eliminate all negative Yelp reviews on your restaurant. The banks are all in the same boat. + +Bank of America after offering $15b, can now buy $147b in loans. They increased their leverage. All these banks offering bonds did so. + +I'd like to see smarter apes look into Rating Agencies and Leverage Ratios. I think something might be there. + + +**EDIT 2:** I just want to add that causation does not equal correlation. Eating Ice Cream in America does not kill Indian people in India in the summer. Just because you can link two things to an event, doesn't mean they are connected. Heat in summer increases sales of ice cream in America, and heat in India leads to many more cases of heat exhaustion than normal. + +In that same spirit, we **cannot** truly draw anything from this DD. The only way we can draw anything from this observation, is by having smarter apes look into it. It could be an indicator, or it could be coincidence. Maybe we need more data later down the road. Perhaps in hindsight in future, when all the facts are out, this could have been something - or nothing. +At current price its a high 4% yielder, but price keeps on dropping. We know they are in a pinch, but surely they will get through. When are you buying? +https://www.businesswire.com/news/home/20211118005880/en/DEGIRO-Retailises-European-Online-Brokerage-With-Zero-Commission-Trading-on-Top-US-and-European-Exchanges +I saw the post here by u/jscottmsn1, in which he is saying the longer this drags out, the lower the trust in the "free" market idea...and the less people will want to invest in equities after all this: + +https://www.reddit.com/r/Superstonk/comments/oow9bc/with_everything_were_seeing_happening_and_the/?utm_medium=android_app&utm_source=share + +I have thought about this a lot too, but with a slightly different context. This is something that is already happening now, I believe, with us non-US investor Apes. Many of the American Apes who have 401ks might not have a lot of choice and be 'forced' to invest and re-invest in US stocks. But the rest of us, many who would have invested heavily into NYSE and NASDAQ listed stocks in the past, are probably already pulling our money out in droves (except GME!) + +As for me, although I am a British Ape based in Asia, up to now I have mostly invested in US stocks and a local US ETFs based retirement/pension fund over here. My entire stock holdings are *still* US-only, but that is only because I've YOLO'd all my available cash I have into this game. But I cannot cash out the retirement/pension fund, only change the ETFs selected within it due to a lock period. After learning over these last 7 months what a shitshow the US markets truly are, I changed all the ETFs in this to non-US equities ages ago... + +The reason is not because I expect better returns from UK, EU, Japanese, Hong Kong, Indian etc. stocks. In fact, the US market is *still* likely to give better returns over the long run. But it is a matter of principle now for me: I think US returns are higher not because the markets are more free, but because they are more *rigged*. Other markets have their share of problems too, but with nothing like the level of corruption and collusion that we are seeing right now in the US, and which the SEC is seemingly turning a blind eye to. + +The longer this drags on, the more likely I am never going to invest a cent into US equities again after all this is done. I am sure I am not the only non-US Ape who has the same thoughts and already changed their investing approach. Believe it or not, non-Americans own more than 40% of American equities now. We might not have much power to ask for change from overseas, but we certainly do have the power of our wallets. + +So all I can say to the people at the SEC is that if you truly want to protect the American markets, then **do your damn jobs.** +This is in response to the many criticisms of this sub becoming a circle jerk with no practical advice to get people out of poverty. + +Disclaimer: I’m still not financially stable enough to find r/PersonalFinance helpful. I still have a mountain of student loan debt that doesn’t seem to be doing anywhere. And I still don’t make much above the average American income. But, I’m no longer impoverished. I no longer have to chose between food and gas. I own a house and have a new-ish (10 years old instead of 20 years old) reliable car. + +Getting diagnosed with ADHD in 2017 when I was 27 was the real turning point for me. My entire adult life, I could see the top of the mountain, but not the paths to get there. Medication, cognitive behavior therapy and lifestyle modifications helped me clear away the clouds and see the necessary steps to get me where I am now. Everyone’s case is so different and I can neither diagnose nor give you a ton of career advice, but if you’d like to know more about my personal experience I’m happy to elaborate. + +EDIT: I had a hunch that there might be folks out there who would benefit from this conversation. I think there's a lot of ADHD folks represented on reddit compared to the general public. Maybe the format appeals to our brains? A lot of us aren't diagnosed though. Despite what the media says about ADHD, experts believe it is actually grossly underdiagnosed, especially demographics outside of young, white boys. So I had a thought if reddit appeals to ADHDrs and most of us aren't diagnosed, those that aren't diagnosed are probably struggling financially. I thought a little anecdotal PSA here couldn't hurt. Good luck to those of you out there pursuing this. +[https://www.cnbc.com/2020/07/23/tesla-sues-rivian-for-allegedly-stealing-secrets-poaching-employees.html](https://www.cnbc.com/2020/07/23/tesla-sues-rivian-for-allegedly-stealing-secrets-poaching-employees.html) + +"[Tesla](https://www.cnbc.com/quotes/?symbol=TSLA) is suing electric-vehicle start-up Rivian, saying in a filing this week that its rival stole trade secrets and poached employees.  + +'Rivian is knowingly encouraging the misappropriation of Tesla’s trade secret, confidential, and proprietary information by Tesla employees that Rivian hires,' the company said in a lawsuit. + +Rivian employs roughly 2,300 people, and Tesla claims 178 of those are former Tesla employees." +Most of you here like me are ETH maximalists over BTC. It has better devs, better features and a better future. But, everytime BTC goes up, ETH seems to lag behind, and everytime BTC goes down, ETH goes down harder. That wasn't the case during parts of last year and very early this year. So what's changed and what needs to happen for ETH to outgrow BTC? +Hi, I’m currently a sophomore in college majoring in accounting and wanted to know if anyone has worked in a career full time whilst also pursuing REI? +I'm just starting to get into this but am noticing that there's a lot of people with social media presence that are marketing doing BRRRR and investing in real estate. Lots of active people on social medial have podcasts, youtube videos, local meetups, offering seiminars, instagram posts providing free education on this subject. + +They are always talking about financial independence, exiting the rat race, monthly cashflowing properties. + +I don't mind the free material and some of the podcasts are indeed good and provide value. I'm just wondering if there's an alterior motive behind this. My only thought is that they are trying to sell you something or are trying to raise money by getting capital joint venture partners because they are tapped out in financing further properties themselves. + +The ones that do weekly podcasts/youtube videos spend a lot of time and effort on this. And some are really good and don't directly try to sell anything. What's the motivation of spending all this time and giving away all this free material if that just creates more investors into your market? +I’d like to buy it because of the crazy housing crisis in Australia. I know of three families who have been struggling with housing and have had to move in with friends and family. It’s crazy out there. I’m afraid an opportunity to buy a cheap house this will never come again. + +There are a few issues: + +Missing gutters, a tree needs to be cut because roots are moving toward house, paint job inside and outside needed, new roof needed in 10 years, bathroom is ugly. + +It’s aboriginal housing. I’m renting the house and I’ve been in it for 8 months. + +Other than that it’s really cheap, 2 bedroom house. Big yard. Good neighbours. + +I would offer $80k for it, I’d go $100k max for it. + +I have no kids, no car. My only major expense is my cat but she’s low maintenance. + +Should I go for it? +Yes we get it the price for BBBY is low and Yes Ryan has invested in the company. He also invests in Apple and other companies - but this is a GME sub. + + +Feels to me that fud campaigns are getting smarter and aren't about fud anymore but by micro distractions. Just ask yourself how much money or how easily you’ve been distracted by BBBY in the last weeks or months. Even if you spent small amounts on BBBY, that could have gone to GME. This is how the distractions work. + + +Let's all remember GME is the only deep value play and has become about something much much more (our financial lively hoods and the greed and corruption of wall street)...Not BBBY. + +Let's re-focus on what really matters here. DRS. GME. + + +P.s. this isn't a dig at BBBY investors. If you want to do that go for it but don't discuss it here. +After 6+ months I finally have a steady wage so I've started taking paying off my credit card and starting a savings seriously (I'm only on 22.5k) + +But once I get paid, I pay into my card, I put away savings, I've money around and I set aside my spend able cash for the month I feel like now I'm just waiting for the next paycheck to do it again and it feels like I cannot progress throughout the month. + +I know it may sound silly but how do you guys get through the month when all you can think about is 'don't spend too much don't spend too much' and thinking about my next paycheck and what I can do with it in terms of paying debts and saving + +Guess I just need a way to take my mine off it as there not much I can do between pays +Happy to report that, after updating my spreadsheet today, my wife and I have cracked the elusive $1,000,000 mark. We're in a MCOL city in California, 30M & 30F with 2 kids. I have a somewhat non-standard government job as an Air Traffic Controller making about $200,000/yr and my wife just became a Nurse Practitioner. She would've been making about $150,000/yr but COVID has resulted in her making about $85,000 or so, we'll see how her year turns out. Her hours were cut in the ER since so many less patients are coming in. + +Regardless! I'm excited to announce that after our diligent saving and investing we are making some serious progress. Our portfolio is made up as follows: + +* 230k TSP +* 30k 457(b) +* 40k ROTH IRA +* 45k bonds +* 131k Primary Residence equity +* 525k Investment Real Estate + +I only started ROTH IRAs about 3 years ago for my wife and I, wish I had started sooner but it is what it is. I've been maxing out my TSP for about the last 6.5yrs (been with the FAA 8yrs) and my wife has random money from various jobs that does add up a little. +The big contributor to our success has been the rental real estate that we've been pouring about every penny into and it's finally starting to pay off. Our cashflow is pretty much breaking even at this point since everything gets put back into the houses but it is growing healthy and steady. We invest out of state in a LCOL city in the midwest and are at about 23 doors, mostly SFH. I was concerned how COVID would affect everything but so far only 1 tenant has been unable to pay. Even then, that tenant was recently approved for housing assistance and will be repaying his entire past due balance! Started investing in the houses about 4 years ago, using the BRRR (Buy, Rehab, Rent, Refinance) method for about 2/3 of the portfolio. We are about 40% equity on the rentals and will continue to expand for the foreseeable future. + +Really looking forward to the next few years and seeing where this goes. Hoping to retire from the FAA when I'm eligible at 47 with $10,000,000 NW. Regardless of my NW, retirement at 47 will give me and family health insurance and pension until I die, the joys of government benefits! +For I while I have been living in my properties for 2 years and then moving and renting them out. That is great while I am younger (because I am buying lower cost properties like townhouses). But now I am to the point where I would like to live in an actual house and have a yard long term instead of constantly moving around. Also when I am married I will no longer be able to keep moving because I have to consider stability for my wife also. + +Do you really save that much money on things like a loan, taxes etc. by doing what I am doing? +My brother is rather well off with a portfolio of around $6million. He is totally clueless about investments...i have told him he would do fine buying something like VBAL and just forgetting about it. Fees would be minimal. He is with a big bank and they are charging him about $60,000 a year. I looked at what they put him in....nothing but high fee mutual funds, there were several from Renaissance lol. Of course keep in mind those fees would add up massively....assume a 1% MER on average and there is another $60,000 per year flushed away. Many of the mutual funds have active managers so he was hit with a massive tax bill this year due to the capital gains reported on T3's. + +I asked him how he is evaluating the wealth manager's performance and said he doesn't care as long as he gets about 5% per year with little risk. I thought with wealth management they would own actual stocks and move the portfolio around based on client's preference re: risk. Besides a spousal loan they manage, they are totally ripping him off. +The stock has been around for years. Independent aircraft leasing company. Up from $3 to $38 in one day. The CFO just released a statement saying the company has no idea what is going on with the stock price. + +30 million shares traded. 1.55M shares outstanding. Average daily volume 140k. LOL. Any thoughts? + +https://www.globenewswire.com/news-release/2020/12/28/2150981/0/en/AeroCentury-Corp-Comments-on-Unusual-Market-Activity.html +Just had a quick thought.l wanted to get everyone’s opinion on. I currently make ~$125k salary a year working in finance for a bank. If I purchase enough real estate and depreciate it every year it’s conceivable that I would not pay any tax assuming I showed enough loses (I.e. depreciation) from the rental properties. + +Is this possible? Does anyone else do this? Realize might not be possible to get to 0% tax rate but it seems like a good strategy to lower tax rate significantly? (At least temporarily, until have to repay when property is sold). + +Seems like a good way to grow income more or less tax deferred, kinda like a RRSP. + +Appreciate any thoughts, especially from my accounting friends :) + +Edit: thinking this through a bit more and realizing I would have to keep all rental properties under my personal name which might be a liability issue. Might just be easier to set up a corporation? +I’m a 21 year old, saving as much money as I can, working as much as I can to save faster and have always been interested in dividend growth investing. I have just around $60k saved so far and want to see it grow through dividends. My problem is I see on this sub that some stocks are considered, “unsafe” for dividend investing but don’t seem to get why. I know a dividend payout that’s too high isn’t a healthy pick, but am just overwhelmed with all that goes into picking a good, healthy stock. + +Sorry if this is a dumb question or I’m just overthinking all of this, just want to wrap my head around this and not end up losing tons of my savings. + +Edit: thanks for all the advice 👍 +This youtube channel is an excellent educational resource on investing, and Canadian to boot. I thought the latest on oil was excellent. + +[https://youtu.be/MXXu0G\_4TOw](https://youtu.be/MXXu0G_4TOw) + +The Plain Bagel. +The learning curve in the stock market is weird. There isn't a road map. You'll have to discover the path on your own. + + +Stage 1: Beginner. + +"I have no idea what I'm doing". This is the stage most people are at. They constantly ask you about the basics. + +When someone asks me "Can't you just buy at 52 week low, and sell at high (buy low, sell ?" I always laugh. I've been there. It doesn't work. + +You hear all these buzz words and you have no idea what they mean. + +Experts say terms like short covering, unwinding, efficient market hypothesis and you sit like a dumb person. + +This phase is filled with uncertainty. It took me a long time to learn the basics. + + + + +QUICK TEST - Short selling, price action trading, divergence, technical and fundamental analysis, bid/ask, structure, trends, wedge, bullish engulfing, RSI, MACD. + +Do you know what all the above terms mean? If the answer is Yes, you probably know the basics. + +The goal as a beginner must be to LEARN as much as you can. + +You lose money pretty quickly by making all mistakes that seem very silly. + +You read Rich Dad Poor Dad, thinking it'll help you in investing (it won't). You pick up the intelligent investor but it seems like a total thy different language. + + + + +Stage 2: Intermediate. + +This is the stage where most people quit. They lose a lot of money even after spending time on learning. But they fail to understand other aspects. + +Your goal must be RISK MANAGEMENT. + +Your goal must not be to make money, it must be to protect your capital. If you manage to save 80% of your capital for over a year, congratulations! + +You understand that there's no golden strategy. You start focusing on Risk Management and Psychology. + +You start reading. + +You read books like technical analysis explained, technical analysis of the financial markets. You still don't understand the intelligent investor. + + +You read about systems and risk management and the 2% rule. You learn about the common biases and heuristics. + + + +QUICK TEST- volume analysis, smart money, stop loss hunting, elliot wave theory, Fibonacci, 2% rule, confirmation bias, futures and options, call/put, PCR, index management, position sizing, risk reward. + +Do you know what these mean? + +If the answer is yes. You might know the more advance stuff. + + + +Stage 3: Mastery. + +This is the stage where only a handful of people remain. + +Most beginners lose money, think that trading is gambling and quit. You manage to preserve your capital. You are safe. + +You make money part time, or maybe as a full time trader. + +You master your emotions. You have multiple systems in place. You know how Smart Money thinks and traps retail traders. + +You know if a position is being hedged or new positions are being created. + +Whenever someone says the same of a stock, you know the exact analysis and reason why they bought it. + +You also analyse data along with charts. You look at delivery percentage, derivatives data, macro economic factors. + +You can easily figure out which "expert" is truly an expert and who is just trying to sell courses. + + + +QUICK TEST- VWAP, Option Chain, Option Writing, implied volatility, open interest, short build up, long unwinding, + + +I am currently at stage 2.5 (I figured out risk management and position sizing and my capital is safe). But I am nowhere close to being an expert. + +What about you? Which phase are you in? + +-Vikrant C. + + +Edit: + +Stage 4: When you've mastered the market but you ran out of money in the process. + +Stage 5: When you stop trading and start selling fucking courses to beginners to pay for you new (used) Lambo. The zero risk strategy. +Let's say I got some really great strategies. High and stable return with low volatility, very small correlation to market. + +If I stick with this strategy and this continuously works well, I'll be very rich, maybe.. after 10-20 years? Although yearly return is awesome, I'm not trading tens or hundreds of MM. The return can buy me toys or cars. But it won't be big enough to change my life. + +So I want to maximize my profit from this strategy. First I can think of Quantopian but return seems to be quite small (only tens of grants at best, is it?) it's smaller than return from my own money trading. Also my strategy can get stolen or leaked. + +To start a hedgefund, I'm totally no name with no background in finance industry. Although back-tested performance is excellent, length of actual trading isn't that long. No one will fund me. Actually I know no one in finance industry to ask. + +Any other service similar to Quantopian but provides better chance? or any other options? +I have some AT&T and Disney shares in Revolut. + +I am thinking of selling them and buying them immediately in Trading212 because of the following reason: + +When I receive dividends, Revolut taxes my earnings 15%. However, I live in a country which does not tax dividend income and income from stocks. Trading212 does not deduce any tax itself, but leaves it up to the person. + +So if I move my shares to Trading212 I won't have my dividend earnings taxed by 15%. Is what I'm saying correct or am I missing something? + +&#x200B; + +**Edit: So it seems the 15% are US taxes, so I won't be able to save on those. Thanks guys!** +Hello, + +I want to start investing 500 Euro/month for a long time (20y). I'll also wait for corrections and invest a lump-sum (>10,000k EUR). I know that a lump-sum invested right-now is most of the time more efficient than timing the market but psychologically this fits better. + +I'll allocate my investment in the following ETFs (all in EURO): + +1. SXR8 (S&P 500) - 50% +2. QDVE (S&P 500 Inf Tech Sector) - 20% +3. IS3N (EM World) - 10% +4. EUNA (Bonds) - 20% + +I believe that the US economy will dominate the world for the next decade and I also believe that information technology will have a bigger role day after day in the global economy. So I'll put my money where my mouth is (as Warren Buffet said). + +I'll compensate the risk with 20% in BONDS. + +These are the reason for the allocation you're seeing above. + +What do you think? + +Any advice on that? + +Thank you! +Hello, I'm using Interactive Brokers and I'm investing monthy in VWCE. From what I understand, it's an accumulating ETF, meaning my dividends are automatically reinvested. I can't seem to find this info on the IBKR website tho, don't know where to look. I'd like to see how much I earned from dividends since I started investing. +There are a variety of programs in the bill to support small businesses (under 500 employees), but by far the most generous one is the Paycheck Protection Program. The PPP can cover 2 months of your payroll and a little more. + +It's structured as a SBA loan through banks, but it turns in to a grant so long as you use the money for payroll, health insurance premiums, office rent/mortgage. + +Details here: + +https://www.sba.gov/funding-programs/loans/paycheck-protection-program + +This is a good summary: + +https://www.uschamber.com/sites/default/files/023595_comm_corona_virus_smallbiz_loan_final.pdf + +Stephen Nelson is doing good work on this at the link below. (He's the same CPA who was the first to spell out the new pass-through tax law a couple years ago.) + +https://evergreensmallbusiness.com + +The $350 billion for these programs is not enough to go around, so you must act quickly. + +I don't know of any bank that has an application ready. But US Bank does have a sign-up list, so I recommend signing up there so at least you are early in line at one bank. + +https://apply.usbank.com/applications/business/InquiryForm + +This would be a good place for us to share insights on the program, and especially on banks that have applications ready to go. + +UPDATE: + +Folks, it seems optimal to apply for the EIDL ASAP, because there's a free $10K available that's forgivable. + +The application is up, at the top of the page at sba.gov. Only $10 billion is allocated for this, whereas $350 billion for the PPP. So the EIDL money is going to run out FAST. Apply today. + +The $10K grant from the EIDL cannot count for the same uses as the PPP. So at worst, it's a wash. But you can get the $10K in your bank account relatively quickly, while the PPP process may take weeks. + +PPP is still the bigger forgivable sum, with up to $10M forgivable vs. $10K with the EIDL. (And note that EIDL amounts over $10K are not forgivable). + +TLDR: Apply for the $10K EIDL grant ASAP today, and get in line for the PPP as soon as you can. + +UPDATE 2: + +There's now an official page with a link to the PPP application form here: + +https://home.treasury.gov/policy-issues/top-priorities/cares-act/assistance-for-small-businesses +I'm entertaining the idea in a HCOL city (San Diego) where buying a new home is far out of reach and an ADU may be more feasible - resulting in 2 smallish homes (~1000sqft) on 1 lot. Any concerns I should be aware of? What would you have done differently? +When I was laid off/retired early at 40, my wife insisted I take out a $1M life insurance policy. It costs $818/yr for 20 years. After 20 years, my kids will be adults, so we no longer should have a need for the policy. The policy ends and it's worth nothing. + +After 8 years of paying the premium, my NW has is now 4x what it was before. If my NW at 40 was FIRE, now I'm definitely FatFIRE. If my family were to collect the $1M (and we sincerely hope they won't have reason to), it's not really going to make a difference to their lifestyle. + +My question is should I continue to pay the $818 per year for the next 12 years, or just cancel the policy? I certainly wouldn't be able to get this rate at my current age even though I'm healthy; however, I feel like I'm just throwing money away for relatively little benefit. +My husband teaches at a private school and makes a very low salary. I stay home right now with our 4 year old because the job I was working did not cover daycare once things like him getting sick and me having to stay home with him factored in--we've been keeping our heads above water since I left the job, barely but more than when I was working. I am always looking for work that will cover daycare and still have enough left over to pay for health insurance and some extra but so far no luck. We may have to hang in there until he starts kindergarten next year. + +Over the school summer break my husband has been working another job which had allowed us to pay some bills and start a meager savings account. I was so damn proud of that savings account. It wasn't much but we were on track to put around $800 away before the job ended. + +Well, today his check from the school was deposited and it is half of what it should have been. He called and they said that someone had made a mistake with payroll and not only would this check be half, but so would the next one in two weeks. That he'll get paid the correct salary over the year but that the payroll person had spaced the checks incorrectly for every staff member so everyone was getting two half checks in a row. He emailed HR but I doubt there is anything they can do. + +I had to move everything but the $100 minimum from savings into checking to cover rent, and I feel so defeated. One check that was half the amount is bad enough, but I honestly don't know how we're going to pay all our bills after being short so much money. Luckily my husband still has two checks from his summer job (which are both short a day because he had to go in for meetings at school the last 2 weeks) and a small bonus, so I have to look at all on paper but I think we'll skate by, but starting out the school year in a deficit fucking sucks. + +Update: I read the email from the school. They are saying that they audited last year's payroll and failed to schedule a required payroll lag last September so the teachers were overpaid, and they are paying half salaries (5 days instead of 10) for two pay periods to fix it on their end. HR forwarded my husband's email to the superintendent. I feel pessimistic that there is any way for us to get those normal paychecks. I wish they would spread the loss out over the entire year rather than shorting us what amounts to an entire check. I don't understand why they didn't send the email/letter the minute they realized this error. +I'm a 34 year old male and just completed what I consider to be my first year actively pursuing FIRE and likely the LeanFIRE version of it. + +At 30 years old I was in a very unhealthy marriage. My wife was both abusive and unfaithful. I had just lost my last grandparent. My dad had just passed away. Though I loved my job as the assistant manager of a Christian supply store, it paid little at $12 an hour, and it was going no where. In fact, the chain has since shut down. + +I'd listen to podcasts about finance and FIRE was just an impossible dream, especially being married to my wife. What if I could just start over? + +With my wife's infidelity, my marriage came to an end and I was a wreck. I needed a road trip. In light struggling with a good paying job, I got a CDL. For the next 14 months I travelled across the United States, saving about half of my income, listening to a lot of podcasts, and working on my mental and spiritual well-being. + +While on the road I realized I would soon have credits expire for an abandoned degree if I didn’t go ahead and finish. This was a seminary degree. Though I did not have the same ambitions I once did to be a pastor, I thought it would be a good idea for my mental and spiritual state to go back. And so I did. + +I then spent the first 7 months of 2020 as an intentionally unemployed seminary student. I would finish my last class online in August, completing my Masters debt-free, paying for all of it upfront with my savings as a truck driver. + +July of 2020 is when I began looking for a job again. Not knowing what to do, I pulled up Indeed and on the front page was a local job as a yard driver at a major distribution center. As I had a CDL but didn’t want to live on the road again, I was interested and started immediately. I consider my first paycheck as the date beginning my FIRE journey. + +Interestingly, I trained for 2 weeks as a yard driver and only worked in that role for a single week. Management thought me more capable and put me in the new role of Yard Management Systems Administrator. For the last year I have had that title though I have been training for the last 6 months or so to become Area Manager of Transportation. I have already applied for this position and, if I get it, this should increase my income by about 80%! Also, I will have to work less to receive that increase in pay. + +As far as my living situation, as a single guy with one parent left, I stay with my mom. She's elderly, has dealt with cancer, and is not 100% self-sufficient. I live with her, paying her rent. It's mutually beneficial. + +So here are the numbers: + +In July 2020 I had $5,804 net worth minus my car. Immediately after getting my job I paid off my car, about $1800. + +In the last year my total pay after taxes was $35,115. My expenses were $17,275. I saved and invested $17,839. As such, my savings rate was 50.80%. For clarity, my expense include paying off my debt. + +I now have a net worth of $23,643 with $20,176 invested with a cost-basis of $18,516. + +My numbers are not as high as many here but I live in a low cost, low paying area of the United States. Also, my career has nothing to do with my education. + +I’m crossing my fingers here but if things go right with my hopefully-upcoming promotion, I should be able to double the amount I am able to contribute to my investments. Wish me luck. +I live in a high density area. There’s a lot of unhoused people in my area. (I choose this term because I believe most of these people are victims, stemming back from Reagan era politics. But that’s not the point of this post). + +Today I passed by a guy who seemed in particularly bad shape. I offered him the $2 cash I had on me (I never carry cash). He said, “Sir, I can’t accept that”. + +I wasn’t prepared for this. I said “no, please. Take it”. + +He said “No sir. I just want some juice”. + +I said “Orange juice? Is orange juice ok?” + +He looked at me like I was offering him +the fucking Moon + +Guys, it broke my heart. + +I said “yeah man. I’ll get you some orange juice”. + +So I walk to my corner store and grab what I was there for plus an orange juice and a banana. + +I walk back and hand the guy the orange juice, banana, and the $2. + +He looked at me like no one has ever looked at me before. The gratitude, guys. I haven’t ever been looked at like that… + +Then he grabbed a small bowl of broken glass shards. Blue, green, clear. The way he handled it made me understand these were very special to him. + +He said “please, take whatever you want” + +Fucking glass shards you guys!!!! + +I’m not gonna lie, this crushed me. ALL THIS MAN WANTED WAS AN ORANGE JUICE. But I kept it together. + +I said “no man. You keep that. It’s clearly very special. You keep that” + +He nodded and thanked me and we went on our separate ways. + +Guys, I immediately burst into tears. + +I live in the richest country in the world. A country that would kick this man and steal his glass shards if it meant there was a profit. + +This is why I will always Diamond Hand. What the fuck is my measly investment off my shitty wages to me, compared to this man’s self respect and dignity!? + +I’m Diamond handing to the end. Because people need us too. + +FUCK THE FINANCIAL TERRORISTS. + +Not financial advice. +Been looking into Facebook lately. It’s getting really cheap at a < 20 forward PE. Does anyone think that is is a stock that’s always going to stay at a lower multiple because of antitrust and government / FTC always being on them. I personally don’t think so but I want to hear other thoughts. +Hey everyone. This is an all-inclusive write-up compiling all of my past posts on how I am making upwards of $1,000 a month through pretty simple online work. I figured with the holidays coming up, we could all use the extra cash. I am posting again because this is a full-blown compilation of everything, and I am sure there are some people that haven't seen it. Plus, I am including updated numbers from my last post, and a link to the guide I put together with even more stuff (like passive earning, saving money with apps, teaching Chinese kids English, and a lot more). +___ +As stated, I put all of this info into an e-book, plus a TON of other stuff that was either written by me, or compiled from others (with their permission). I am attaching a paid and free link. If you're interested in paying for it (much appreciated if you do!), it can be found [here](https://www.amazon.com/gp/product/B07HT46CQR?pf_rd_p=d1f45e03-8b73-4c9a-9beb-4819111bef9a&pf_rd_r=RFDQ1E7D2RN3X26A3126) for under $1. Free version is [here](https://drive.google.com/file/d/1YiBY-6mYr1tEFa7hbZFdRkQtE2Gu4DHK/view?usp=sharing). +___ +Because this is (in most cases) not intended to be a primary source of income, I won't pretend you can survive with only this. This is a way to supplement what you already have. There is no way to know what you will make any given month, so do not count on it. My worst month I only made around $500 and my best I made over $2,000. + +As I have stated in my other posts, this is not a definitive list of everything a person can do online by any means. Do your own research on the subs I list, use Google, ask other people, and find what works for you. What I talk about works well for me, my family, and my schedule. Below I will include time requirements to make this money, provide a quick recap of the revenue streams that I have found to work, and provide payment proof for what I can. + +I personally invest anywhere from 20 to 30 hours a week doing these sites, on top of my day job. Some days I will make $20 all day, and others I will make over $200. I prefer this, as opposed to a second job, because I can pay partial attention to a laptop and 'clock-out' when I want to focus on family or Netflix. This works better for my temperament and preferences. + +Tech required: A working laptop, a cellphone (in some cases), an internet connection, and a fairly good amount of patience to learn. If you are in a position where these tools are not available, you can also do many of these from a library. + +These are combined numbers over the last year. Anyway, on to the revenue streams. There are some refs, clearly labeled, as well as non-ref links: +___ +**[Respondent.io ref](https://app.respondent.io/r/brunihurst-171379f42e11)** ([$4,300](https://imgur.com/a/oSpkC5o)): Studies - Most countries - This site allows users to screen for online or in-person surveys and focus groups. The pay is amazing, easily averaging $125 per test. I only average getting approved for the groups about 10% of the time (I have filled out about 400 screeners and have been selected for 40 studies). Thankfully, each screener only takes me a few minutes to fill out. I have made up to $200 with one hour of work doing an in person focus group. Most focus groups are done through webcam, so you don't even have to leave your house. They payout via PayPal 7 days after the activity is complete. [Non-ref](https://app.respondent.io) +___ +**[Prolific.ac ref](https://www.prolific.ac/p?ref=O8LEJ7R6)** ([$1,575](https://imgur.com/a/jii6GDW)): Surveys - Most coutries - Based in the UK, this is one of my favorites because they pay in Great British Pound (GBP) which is the equivalent to 1.25x USD. Prolific is similar to mturk in that all you do is fill out surveys. Pay is better than mturk, but the availability of surveys is not as great. The initial questionnaire you have to fill out is a bit long taking me about 20 minutes, but ensures you qualify for every survey they show you and will never get disqualified for not meeting the demographic. You have to hit £5 before you can cash out, but you get this after a few days of watching for surveys. Leave it open in a tab and check it throughout the day. I wish I could do this one all day. They pay out in PayPal anytime you request it and have a balance of over £5. [Non-ref](https://www.prolific.ac) +___ +**[Mturk](https://www.mturk.com)** ([$3,142](https://imgur.com/a/AhWXpuw)): Small tasks and surveys - US mainly. Confirmed also in Canada, Europe, & Aus. - This is by far the one I spent the most time on and has been the best earner. This site lets humans perform small tasks that robots still cannot do well. It is owned by Amazon. Downside is there are slim pickings on weekends and when colleges are out on vacation. I typically stick to surveys, but once in a while do batch jobs which there are more of. You have to wait a week for your first payout, which will go to an Amazon payment account. You can the get payouts one time per day after that. Approval for mturk can sometimes be a pain in the ass, almost impossible if you are not from the US, but is definitely worth it in my opinion if you can get approved. +___ +**[Secret shopper app ref](https://app.survey.com/account/merch?referral_code=roberthW77D)** ([$485](https://imgur.com/HfQ7PZw)): In-person store evaluation - US only - This link will take you directly to a sign-up page with my ref code. Feel free to delete it before signing up, if you want. You will be taken to the app store where you can download the actual app on your phone. Essentially, you go to stores near you that are identified in the app and take pictures or videos of specific items. I like this one because I have the ability to make a few extra bucks if I am already out shopping. The pay for this one averages about $15/hr. [Non-ref](https://app.survey.com) +___ +**[Usertesting](https://www.usertesting.com)** ([$800](https://imgur.com/a/ab5ptaN)): Website evaluation - US & maybe select others - This site allows you to review new websites and apps. The pay is usually $10 per recorded test lasting 10-15 minutes. Sometimes the pay is more, but never less. I average a few tests a week. Some weeks I will get a dozen tests, other weeks nothing. This one is great to practice your feedback skills, which open up a lot of other doors. Pay is through PayPal, one week (to the minute) after the test is complete. +___ +**[Redbubble](https://www.redbubble.com)** ([$305](https://imgur.com/a/bI5TNO4)): T-shirt creation - Worldwide - After getting rejected by merch by Amazon, I came here. You design and publish t-shirts, phone cases, and about 20 other mixed products, with each sell netting you a few bucks. They are based in Australia, and do pay-outs once a month on the 15th via PayPal. You do all of the uploading and just wait for people to find it with keywords or searches. Great if you are artistic or know how to use any creative software. [25% off ref code for first order over $40](https://www.talkable.com/x/VznBIO). You save $10 or more, and I get a $10 credit if you use this code. +___ +**[Ebay](https://www.ebay.com)** ([$190](https://imgur.com/a/SVhmvu5)): Selling goods - Worldwide - Not much explanation needed here. You buy stuff in-person low, and sell online high. [Here](https://www.amazon.com/eBay-Beginner-money-knowledge-inventory-ebook/dp/B07HT4Y9J6/ref=sr_1_1?ie=UTF8&qid=1540416148&sr=8-1&keywords=ebay+no+money) is a $1 beginner's guide dedicated to flipping (also mine). +___ +**[PlaytestCloud](https://www.playtestcloud.com/signup)** ($190): Video game testing - Many countries - This is just simple game testing. It is super fun, very quick, and you get to test new games before anyone else. They send you tests for different listed devices, you download the game file, and they record your screen and voice. The only issue I have with this one is that you are only able to test 3-4 games per month, at $9-$11 each. Paid almost immediately after each test via PayPal. +___ +**[UsabilityHub](https://www.usabilityhub.com)** ([$15](https://imgur.com/a/U4FhJIQ)): App testing - Many countries - This one lets the user take quick one or two minute surveys on your opinion of an app screen. They pay for this averages to about $.10 a minute, so it is nothing spectacular. Just leave it open in another tab and take a quick survey when you hear a new one come available. +___ +**[UserInterviews](https://www.userinterviews.com)** ($50): Studies - US & maybe select others - Similar to Respondent, but with less approval when filling out the demographics for each study. +___ +**Reddit subs**($2,300): It is super simple to use Reddit as more than a social media tool or news website. Knowing the right subs to subscribe to, and what to look for, can help you make a few extra hundred bucks a month. There are a ton that you can find small or medium jobs on, but I am only going to outline the top four that have worked for me. +___ +/r/slavelabour: This sub is normally dedicated to doing cheap jobs for people, at cheap rates. I have both had things done for me here, as well as completed a lot of tasks. It may seem daunting at first, with people offering $2 to write an essay (seriously though.. no homework here), but there are gems to be found. Two of my best jobs have been creating meal plans for $60, and [finding the name of a book for $80](https://www.reddit.com/r/slavelabour/comments/92k4n0/task_find_one_of_my_favourite_books_80/?ref=share&ref_source=link). +___ +/r/WorkOnline: A gold mine of information on different websites to check out, gift card survey opportunities, and other generally helpful tips. I have never made money directly from there, but have gotten tools that have helped make at least a thousand over the last year. +___ +/r/signupsforpay: Since slave labour does not allow paying people to sign up for websites, this is where to go to make a few bucks with signups. From connecting your gas and electric information, to signing up with Acorns, I have probably made a grand total of $100 here. Nothing overly special, but $100 is $100. +___ +/r/giftcardexchange: This is one of my favorites, because you can buy and sell all of those gift cards you have/want. Have a $20 gift card from a family member that you will never use? Sell it here for 80-90%. Want to buy Amazon gift cards for less than face value? Get 'em here. I do a lot of buying on Amazon, so this sub has easily saved me hundreds over the course of using it. Caution: Trade carefully. +___ + +I know this is a lot of info and a bunch of it is repetitive from my last post, but I wanted to provide as much info as possible for the compiled post. Well, I hope it helps! +___ +Also, if you are in a position to give or participate in the 10th annual Reddit Secret Santa Exchange, sign up [here](http://www.redditgifts.com/?inv=E7c3)! Maybe one of you will get my gift this year. But even if we aren't a match, you can help make someone else's day brighter :) +- +Hey everyone i have a question. so i started investing with little money. I put my first 500$ in vanguard etf. I intend to put like 50 every month. Im 25 and i have a long term plan to do it for like 15-20 years or something. Do you think its worth it. I think the amount is really small but thats what i can invest unfortunately. +This is extra "bonus" money, I already have a sizable portion in long term buy/hold where i'm normally wheeling on ~1.2m margin or secured by cash depending on what's going on. + +Risk exposure is medium on this, with a goal of doubling it in a year. Let's say Dec1 2022. + +If I pick your strategy and it gets >50% in a year I will straight up send you 1% of the profits. + +edit: spelling is hard on mobile + +Apologies for not picking a strategy yet... was sick all day Sunday and have been reviewing today. +Chimps, Bonobos, Silverbacks - Lend me your ears. People keep calling out Point72 but I have yet to see any comprehensive looks into them with one incredible exception: [this post](https://www.reddit.com/r/Superstonk/comments/o8l53q/point72_aka_sac/) by [u/No-Awareness-9362](https://www.reddit.com/user/No-Awareness-9362/). Please spare his work some of your time and throw him a tendie for his contribution. Well, [u/No-Awareness-9362](https://www.reddit.com/user/No-Awareness-9362/), I agree with you completely that the corruption is overwhelming and we DEFINITELY need more eyes on this. So without further chinwagging and screeching, here is my data dump contribution to fighting the good fight. I'm down to discuss anything here so fire away! + +\-The fact that both Point72 Capital Advisors LLP AND Point72 Capital Advisors LLC. exist. WTF? sus right off the bat - any silverbacks have insight into why someone would need to incorporate twice but slightly differently? + +[tons of businesses incorporate in Delaware, including subsidiaries of point72](https://bridgehouse.law/incorporate-in-delaware) + +\-not saying incorporating in a state with corporation-friendly laws is inherently sus, but I always found it amusing that [one address is home to over 200,000 shell companies!](https://freebeacon.com/issues/delaware-address-home-200000-shell-companies-including-hillary-clintons/) + +\-[Point72 showing 8-to-1 leverage in 2018](https://www.bloombergquint.com/business/cohen-point72-s-reveals-high-leverage-as-firm-recruits-new-money) + +\-Point72 was renamed to Point72 very recently, it was formerly known as SAC Capital Advisors LP (yes, I believe that is different from the LLC and LLP above, so it's actually 3 identically named entities. don't tell me it's not sketch as hell!) + +Dirt follows in a lovely assortment of links: [https://www.usatoday.com/story/money/2016/12/01/cohen-sac-capital-reach-135m-insider-trading-settlement/94726306/](https://www.usatoday.com/story/money/2016/12/01/cohen-sac-capital-reach-135m-insider-trading-settlement/94726306/) + +[https://www.justice.gov/usao-sdny/pr/manhattan-us-attorney-announces-guilty-plea-agreement-sac-capital-management-companies](https://www.justice.gov/usao-sdny/pr/manhattan-us-attorney-announces-guilty-plea-agreement-sac-capital-management-companies) + +[https://www.usatoday.com/story/money/business/2014/09/08/martoma-sentencing-insider-trading/15148411/](https://www.usatoday.com/story/money/business/2014/09/08/martoma-sentencing-insider-trading/15148411/) + +[https://www.sec.gov/litigation/admin/2015/ia-4287.pdf](https://www.sec.gov/litigation/admin/2015/ia-4287.pdf) <- I'm posting this less in reference to the actual filing contents, and more what it reveals about the extent of Point72/Cohen's tendrils by confirming the existence of his companies: + +\-S.A.C. Capital Advisors, L.P. + +\-S.A.C. Capital Advisors, LLC + +\-72 Credit Management LLC + +\-S.A.C. Private Equity GP, L.P. + +\-Point72 Asia (Hong Kong) Limited + +\-Point72 Asia (North Asia) Limited + +\-Point72 Asia (Singapore) Limited + +\-S.A.C. Global Investors, LLP + +\-CR Intrinsic Investors, LLC + +\-[Sigma Capital Management](https://www.insidermonkey.com/hedge-fund/sigma+capital+management/207/), a subsidiary of S.A.C. Capital Advisors + +we need more wrinkle brains and data combers looking straight at Point72, PRONTO. Citadel is a business worth about 26 Billion, Steve Cohen personally controls over 11 billion and -as you can see from above- has an *international* presence in financial markets. + +\-[https://www.sec.gov/divisions/enforce/claims/cr-intrinsic-investors.htm](https://www.sec.gov/divisions/enforce/claims/cr-intrinsic-investors.htm) CR Intrinsic Investors LLC - the guy who got 9 years (Martoma Sentencing link above) was also a portfolio manager at CRII, and here they are in an insider trading suit + +[https://www.marketswiki.com/wiki/SAC\_Capital\_Advisors\_LP](https://www.marketswiki.com/wiki/SAC_Capital_Advisors_LP) <- on marketswiki, CR Intrinsic Investors is listed under "products and services" for SAC Capital Advisors LP + +I know everyone associates Cohen with the BIG suit that barred him from trading, but dear lord the extent by which his affiliates and subsidiaries have continued to do these things is ASTOUNDING. Let me know what y'all think, I think Stevey boy here has a *lot* of capital and a lot of presence to get up to his seemingly usual tomfoolery. + +Don't forget, he [assisted in the Smellvin bailout](https://clutchpoints.com/mets-owner-steve-cohen-bails-out-melvin-capital-amid-gamestop-reddit-stock-fiasco/), albeit to a lesser degree than shitadel. Ok will check back soon - obligatory *end the fed* + +OOOOK OOOK OOOOOK got some navy blue crayon soup for dinner tonight!!! +Was just offered a new contract for $900k in company stock options that vests over 3 years. $300k in the form of ISOs ($100k/yr), the remainder in NSOs. + +This option agreement is my best opportunity to achieve early FatFire dreams. Appreciate any insight or resources this amazing community can offer! + +What questions should I be asking before accepting and how can I best be setting myself up as these options vest? + +Are options of this size typical or should I be asking for something else? + +My network is mostly in finance or the RSU tech startup type - and I can't find anything on the internet about how to handle an option package of this size... Maybe there's nothing special to be doing? But for some reason I can't help but feel suspicious / insecure about this... Very grateful for any insight! + +Background: +- Work for Direct to Consumer "startup brand" +- Yearly salary $350k +- Company probably will not IPO, but is already profitable. Will likely look to be acquired if the offer is right, but could also just exist for a long time as a profitable company. +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/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). +First off, I feel I am monstrously underpaid. I am a program manager at a 200+ person tech company. I have a post-graduate degree but I understand that doesn't entitle me to higher pay automatically. But if I was working elsewhere I could probably ask for twice my current salary. But I also have worked myself into a nice groove at this firm where I really only work about 30 hours a week. Mostly because I'm good at my job and I know how to navigate the organization. + +That being said, this is now the second year in a row that I have gotten an 2% pay increase as a merit increase. I have expressed to my direct superior that this is really unacceptable in the current economic climate(high inflation, low unemployment) and that I am disappointed the company doesn't value us enough to keep us from jumping ship; which a few long time employees have already done causing major process issues throughout the organization. + +I know the best thing to do would be to look for a new job. I've been working with a career counselor for a few months and we've been prepping my resume, for interviews, linkedin profiles, etc. But that would mean putting my work life-balance on the line. + +My boss suggested I reach out to HR and have them run me through the numbers as well as ask for more money based on what I've described. But, and this is why I like my boss, he told me not to put any details into my email other than I just want to talk because my words can easily be taken out of context and used against me if I put them in an email. Should I bother? + +I always have the attitude of, "it won't hurt to ask," but will I be essentially fired for asking for more money? If I do meet with HR, what types of things should I be armed with to make my case? Any topics I need to make sure I avoid? I have my job description and I'll be going through it with a fine toothed comb to see where my real duties are above and beyond the written description, but will they care? Will they care about the market forces and why they should be doing everything in their power to keep people on staff and not provide them with an incentive to leave? Should I be ready to quit if they stonewall me? I have a decent nest egg built up but I do have plans to spend a chunk of it this summer on house renovations so now would be a pretty bad time to have zero income coming in. + +TLDR: 2% raise?! In this economy?! Should I quit or talk to HR? + +Anyway, any thoughts or idea would be helpful. Please let me know if I should post this elsewhere. Thanks. +I am new to ETFs as before was holding mutual funds only. I have noticed that the daily volume of some popular ETFs like the UK version of VWRP ([https://www.hl.co.uk/shares/shares-search-results/v/vanguard-ftse-all-world-ucits-etf-usd-acc](https://www.hl.co.uk/shares/shares-search-results/v/vanguard-ftse-all-world-ucits-etf-usd-acc)) has volume of only £275k ($382k). So if I want to buy or sell say £100k ($140k) worth of it that looks like it would likely move the market somewhat... then some arbitrage kicks-in after my buy/sell order goes through so that the ETFs price is in-line with the underlying asset (arbitrageur's win, my loss). Am I missing something obvious here? +Guys I'm a beginner at investing (started only in November 2021) with majority of my investments in tech stocks, VTI and QQQ so I'm worried about the consequences of a market crash + +Any thoughts on how legit this article is? + +https://finbold.com/economist-h-dent-projects-the-greatest-financial-downturn-ever-for-2022/ +Today someone posted on IEX that at times there were no asks below $99999. On the level 2 data I see from Fidelity there's never more than about 1000 or so (suspicious) asks on the board before some real ape is selling a couple of shares for 50k. + +As long as the hedgefuck MM's are able to suppress the price by creating a few 100k new counterfeit shares, this thing isn't going to happen, but as soon as they can't, this thing is gonna spring like a bear trap, right? + +Even if someone could generate some more fake shares to temporarily keep it down once someone fails a margin call, are they gonna want to throw themselves in front of that bus once someone is forced to buy a million shares to cover? This thing is gonna rocket up so fast it's gonna make your head spin. A MM that does that last counterfeit short position is asking to be paying 100s of thousands per share inside of a couple of minutes. + +...and a giant GUH will ring throughout the land. + +https://www.reddit.com/r/Superstonk/comments/n5hrzb/99k_spread_on_iex/ +So every time I have a new strategy I test them this way:- backtesting - out of sample data- livetesting w/ small account + +Then if the strategy is still good:- I size into my real account size (then strategy breaks) + +Any advice? I use Kevin Davey's monte carlo simulation btw to check if the strategy still works or not. + +https://preview.redd.it/98hrl80fdlq71.png?width=988&format=png&auto=webp&s=5b715a3d5f22648a0eaf5b79b7ac8589389301ad + +&#x200B; + +\[edit\] + +Additional details: + +\- for livetesting i risk 2$ to earn $1 per trade + +\- for real account i risk $20 to earn $10 per trade + +\- i use post-only orders to avoid slippage + +\- i have a target profit and stoploss set every trade + +\- i use limit order for target profit + +\- i use stopmarket order for stoploss + +\- i use [Bybit](https://www.bybit.com/en-US/invite?ref=ERP5Y6) as my trading platform (for rebates) + +\- i trade crypto btw + +\- average number of shares or coin per trade is $1,000.00 + + +\[edit\] + +also not that: +\- my backtest equity-curve is also getting destroyed because i made the backtest look realistic so that they trade exactly the same way. In my backtest i use limit orders too and put them a few ticks below the entry price like in real trade. So if you say it's because of unfilled orders, i don't think so. + +&#x200B; +Has anyone else noticed this? + +They're accidentally giving us a fucking countdown clock + +Look at this shit + +https://www.reddit.com/r/Superstonk/comments/sp5w2p/100_utilization_day_2/ + +19.27m shares on loan, meaning the lending pool is 19.27m shares since the utilization is 100% + +Before /u/fantasybroke started tracking this, I remember seeing 21.5m shares on loan!! + +Now? + +Look at the latest from today! **17.84m shares** +https://www.reddit.com/r/Superstonk/comments/t6imti/100_utilization_day_18/ + +The best part? Fantasybroke already saw the potential reasoning for this happening 3 freaking weeks ago! + +https://www.reddit.com/r/Superstonk/comments/sq03yt/utilization_sign_of_a_share_buyback/ + +**SOMEONE** is pulling a shit ton of shorted shares out of the market. They're slowly draining out millions of shorted shares and straight up removing them from the game. + +Ever since GME hit ~$110 this number has been going DOWN and it has steadily been going down for **weeks** + +Could it be DRS? Maybe. Could it be RC buying the rest of his stake? Perhaps. Maybe its a partner like Microsoft or Apple securing their first class tickets on the rocket. Who knows! I don't really care, because the more that number goes down the faster we see the shorts get fukt + +TL;DR : The short lending pool has been decreasing and the Kenneth Griffen and friends are fukt + + +I am looking for advice on what I can do with £1000. This is money which I can afford to lose so I am open to high risk investments. + +I own property and have a years salary worth of savings but I currently have no specific plan of what I would like from an investment portfolio. I have two good pension plans which are my only "long term investments". + +Based in England and would be interested to hear how I can use the £1000 effectively to learn how to invest well while hopefully making some kind of return. +>The Federal Reserve will soon begin selling off the corporate bonds and exchange-traded funds it amassed last year through an emergency-lending vehicle set up to contain the Covid-19 pandemic’s economic fallout. + +> +>The vehicle, known as the Secondary Market Corporate Credit Facility, or SMCCF, held $5.21 billion of bonds from companies including Whirlpool Corp. , Walmart Inc. and Visa Inc. as of April 30. In addition, it held $8.56 billion of exchange-traded funds that hold corporate debt, such as the Vanguard Short-Term Corporate Bond ETF. + +> +>A Fed official said the sales should be completed by the end of this year. Net proceeds will be remitted to the Treasury Department. + +> +>The Fed’s corporate-debt holdings are distinct from its $7.3 trillion balance sheet of Treasury securities and agency mortgage-backed securities. The central bank is continuing to purchase those types of assets to the tune of at least $120 billion a month as part of its monetary-policy goal of holding down borrowing costs until the economy recovers further from the pandemic. + +> +>The Fed added that its corporate-bond and ETF sales “will aim to minimize the potential for any adverse impact on market functioning by taking into account daily liquidity and trading conditions” for ETFs and corporate bonds. + +[https://www.wsj.com/articles/fed-plans-to-sell-13-7-billion-of-corporate-bonds-etfs-by-year-end-11622666400?mod=hp\_lead\_pos3](https://www.wsj.com/articles/fed-plans-to-sell-13-7-billion-of-corporate-bonds-etfs-by-year-end-11622666400?mod=hp_lead_pos3) +So this requires a lot of backstory and I dont know how most of it works tbh so I'll just say what I know. I want to leave my house, no rather I NEED to leave my house, it's not safe for me anymore and I dont ever want to live there again. Problem is, my parents control my bank accounts somehow, all I know is I'm a linked account with them or something and anytime I take money out or try to transfer it they cancel the transfer and tell me not to do that. I'd be starting over with no money no nothing. I've figured for school I can just take out a loan and figure it out from there, but how would I start a new bank account from nothing, my plan is to literally leave with nothing and start over, I can crash at a friends' place for a bit but I dont want to bother them for too long, I just cant be here anymore. Please any advice helps, thank you in advance. + + +Edit: thank you everyone for your responses! I'm not currently in the US so I fell asleep, but I've read through all the comments and wanted to thank everyone for the advice. + +To answer a few questions: + +Parents are abusive, yes, something happened while we were on vacation that almost resulted in me being kicked out while on foreign soil and basically being forced to start a new life and find a way home by myself with no money and I decided "no, I'm not living like this anymore". + +Why didnt I leave earlier/why dont I leave now? I'm on vacation with them now, and in the past I was too scared/they threatened to call the cops on me before I was 18 and I guess I never figured that after I turned 18 they dont have jurisdiction over whether or not I leave. + +Thank you so much everyone, I wish I could get back to everyone that responded but I woke up to like 300 messages in my inbox. I appreciate all the help from everyone and all the best wishes, 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! +Implied volatility is one of the most misunderstood concepts about options. Let’s look at it from a practical perspective. + +# The Only Certainty About Options + +Before even mentioning implied volatility, we need to clarify the only certainty about options. + +**The only certainty about options is the inevitable worthlessness of an option’s** ***extrinsic value*****^(\*)** **at the expiration of the option.** That’s it. Everything else is theory. + +In their basic nature, options are standardized insurance that you can buy and sell on a whim. While the inherent insurance in options is worthless at expiration, it *must* be worth *something* before then. Right? + +Right. But what determines the worth of options? + +The market. Just how buyer and seller pressure determines the price of a stock, buyer and seller pressure determines the prices of the contracts in an option chain. With enough participants, arbitrage removes any obvious inefficiencies in the chain. Good luck finding the not-so-obvious ones. + +^(\* If you need to brush up on extrinsic value, then I highly recommend studying) [^(Options extrinsic and intrinsic value, an introduction)](https://www.reddit.com/r/options/wiki/faq/pages/extrinsic_value) ^(by u/redtexture. It’s one of best explanations I’ve seen, and I send people to it regularly.) + +# Enter Theory + +One of the greatest innovations of the Black-Scholes-Merton (BSM) model and its variants is dynamic hedging and the prospect of projecting an option’s price through potential changes in the variables that *should* affect the price of an option. Such variables are … + +* Time - the extrinsic value is worth something now. It will be worth nothing eventually. +* Underlying move - the distance of the underlying price from the strike price matters. +* Expected underlying move - fear of loss and fear of missing out should affect demand for optionality. +* Interest rates - how cash is allocated matters, and it should affect the cost of carry of an option as well +* Other factors - dividends, short interest with HTB fees, the moving average of the daily number of mentions on WSB, etc. … should somehow affect an option’s price as well. + +The BSM model mathematically organizes the top four of these factors into a neat, nonlinear and multidimensional formula. The code has been cracked, and we can move on with our lives now. + +# The BSM Model Is Always Right + +Don’t you *ever* question it. The Greeks^(\*) never lie! + +You’re holding an OTM call on AAPL through earnings. AAPL gaps up the next day. The delta/gamma projection with theta projection had your call premium to go up by 50% from the realized underlying move, but your premium went down by 10% … WTF? Even the grandmas on reddit will tell you that you got IV-crushed. + +Fine. You were holding an OTM put on GME when the shit was all ‘tarded. GME exploded upward. BSM projected that your put would have lost 75% of its premium, but your put doubled in price. Ahhh, but you see … IV went up! Not that you’re complaining about making money on your now farther out-of-the-money put, you just want to understand what the hell is going on here. + +Option decayed more than projected by theta? … IV! + +Option decayed *less* than projected by theta? … but IV! + +If you can’t tell by now, implied volatility is the get-out-of-jail-free card for the BSM model. Any difference between the market price of a contract and the price projected by theta and delta/gamma (and even the neglected rho) will be consumed by a change in implied volatility via vega. + +But what the hell is implied volatility anyway? + +^(\* In this post, I’m assuming that you have a basic understanding about delta, gamma, theta, and vega. A simple Google search can help you brush up on them.) + +# In the Beginning, There Was Volatility + +One day, someone was bored and started comparing two stocks. Stock ABC traded at $100 per share in the beginning of the year and closed the year at $100 per share. So did stock XYZ. However, the low-high of ABC was 90-110 that year, while the low-high of XYZ was 50-150 for the same year. That’s a kiddy choo-choo train ride at a state fair compared to the Fury 325 at Carowinds. That someone wanted to find a mathematical way to compare the stocks, and so it began … + +Daily percent changes (of closing prices) of the stocks were calculated over a time period (say, 30 days). Then their average was calculated. Then the differences between that average and the daily percent changes was calculated. Those differences were squared. The squared differences were averaged. That average was square rooted … and BAM! + +Through this simple process, we have a measurement of one standard deviation of the daily percent differences of closing prices of a stock. This measurement is annualized, and we get the historical volatility of a stock (or the most common calculation of it, typically done over a rolling 30-day period). + +Other attempts to measure historical volatility use a moving average, measuring how far the traded prices move from the average. + +As sophisticated as it all seems, any statistical approach to measure volatility makes one assume that volatility adheres to a distribution (normal, lognormal, or any other). There is no substantial evidence that it does. Regular “fat-tail” events kind of suggest that it does not. Ask Robert C. Merton about his [Long-Term Capital Management](https://en.m.wikipedia.org/wiki/Long-Term_Capital_Management) hedge fund. >!It did not fair well.!< + +# Implied Volatility — The Frankenstein’s Monster of BSM + +BSM model takes the concept of historical volatility even further, claiming that the market prices of options imply a certain probability of a certain historical volatility to be realized. + +Let that sink in … a *probability* is assigned to something that cannot be adequately measured, where all possibilities cannot be accounted for … + +Weather forecasters have infiltrated the markets. Ninety percent chance of precipitation! … sunny day, no rain … well, that ten percent is a bitch, ain’t it? + +# So, What Affects What Exactly? + +The BSM model claims that implied volatility affects the market price of an option. However, the only way IV can be measured is through the market price of the option, plugged into the model’s formula. Non-optionable stocks have no implied volatility. + +Furthermore, the options market calls bullshit on the probability distribution of the BSM model. This is evident in the non-uniform IV calculated from the market prices of the contracts in an option chain. There should only be one implied volatility for an underlying. Yet, there are as many as there are contracts. + +This is why we have a *volatility index*. The implied volatility of a stock? It’s actually a systematically [calculated average](https://www.investopedia.com/articles/active-trading/070213/tracking-volatility-how-vix-calculated.asp) of the IVs of certain contracts in the stock’s option chain. The same formula is used to calculate VIX from SPX options. + +# Volatility Surface — Making Sense of the Madness + +So, instead of ditching the BSM model and its variants, we find rhyme and reason to the different IVs across strikes and expiration dates in an option chain. Like good *Homo sapiens*, we find patterns (even when there are none). + +We study the skew (the slope of IVs across strikes) and the term structure (the slope of IVs across expiration dates) to assess the market’s current correction to the model’s neat projections. To do this, we must first understand the neat projections ([first order](https://medium.com/hypervolatility/options-greeks-delta-gamma-vega-theta-rho-23f0321b64ba) and [second order](https://medium.com/hypervolatility/options-greeks-vanna-charm-vomma-dvegadtime-77d35c4db85c)) of the model. We can then adjust our expectations, based on what the market is telling us via the volatility surface of the option chain. + +# Term Structure — Decay Adjustment + +Term structure is probably the easiest to understand. The IV of longer-term options tends to be higher than that of shorter-term options. This is often called contango (borrowing the term from futures markets). This can be explained by the need to roll the insurance forward. The market may also see a greater probability of a tail event being captured by a longer-term option. Calendar spreaders also beat down on the shorter-term contracts. + +Regardless, what this normal term structure tells us is that option contracts (particularly those near the money) decay faster than the rate projected by the model. While the *volatility index* of the underlying remains the same, the IV of a single contract will drop over time as long as the term structure does not change. + +**The IV term structure can change.** + +Sudden/unexpected realized volatility can cause the IV of shorter-term contracts to be higher than that of the longer-term contracts. This is often called backwardation (borrowing yet another term from the futures markets). Such conditions cause the market to value short-term protection more than long-term protection. Why? It’s cheaper. The market also expects the storm to settle sooner rather than later. More so, it takes a lot of fear to move the IV of longer-term options. They are more expensive, and they have higher vega (according to the model). This means that their premium will have to rise *significantly* for their IV to rise substantially. + +Planned future events (e.g. earnings reports, TV interview with an executive, Congress voting on a particular bill, etc.) can also affect the IV term structure of the option chain, slowing down the projected decay of options expiring after the expected event. The market is attempting to price-in the expected move caused by the planned event. Come the event, expect the term structure to change. + +While an expected event causes a “sticky date” term structure, a general fear of short-term volatility can cause a rolling term-structure, where the IV of options expiring in less than a month (for instance) is decreasing, and the IV of options expiring in more than a month is increasing. Such a term structure can be short-lived, or it can persist for an extended period of time (think SPX in 2020). + +# Skew — Underlying Move Adjustment + +There are several ways to interpret the skew. Put skew (where the IV in the lower strikes is higher than the IV in higher strikes) is the most common among equity options. This can be explained by OTM covered call writers and OTM married put buyers. The general observation of stairs-up/elevator-down may also cause it. This can also be explained by a usual rise in demand for insurance during a sell-off and a decline thereof during an uptrend. The relatively higher IV on the lower strikes is the market’s attempt to price-in the rise of IV during a sell-off, while the relatively lower IV on the higher strikes is the market’s attempt to price-in the decline of IV during a steady climb of the underlying. + +Does the skew move with the underlying? It depends on how you look at it. There is a sticky strike rule and a sticky delta/moneyness rule. [Here](http://deltaquants.com/volatility-sticky-strike-vs-sticky-delta) is a quick breakdown of the two rules. Both are somewhat true and both are imperfect. Each rule is ultimately ”corrected” by the realized volatility surface after the underlying move, whether it be interpreted as rising/sinking and/or bending. + +If we interpret the skew as the market’s attempt to price in a change in the volatility index of the underlying from an underlying move, then this [paper](http://faculty.baruch.cuny.edu/jgatheral/ImpliedVolatilitySurface.pdf) suggests that it tends to underestimate that change. Thus, the skew partially prices in the change in IV in each contract from an underlying move. For example, if a sell-off raises the volatility index of the underlying from 20 to 30, the IV of a put could go from 25 to 28. A single contract will not realize a full change of the volatility index of an underlying from an underlying move, because the market partially “arbitrages” the change. + +# There you have it … + +This is implied volatility — the rubber band of the options pricing model(s) that (barely) holds it all together. + +In the end, we’re all just guessing. The shittiest part of life is that every single one of us is forced to make decisions and take actions without having the complete model of reality. We’re terrible at predicting the future. We back-test the shit out of the past but keep getting surprised by the future. + +Thanks to the market gods, we have options, with which we can capitalize on the fear of others and relieve our own. +$KODI is the next generation of BNB auto-redistribution tokens. Not only will $KODI provide its holders the luxury of earning passive income (BNB) by simply holding KODIAK tokens, they’re bringing the first ever Entertainment Hub to the BSC network! + +🎙 **Entertainment Hub** + +The BETA launch will include a 24/7 Radio which will be bringing you everything entertainment such as podcasts, music, and much more! This will provide an eventual revenue stream that will directly benefit $KODI holders down the road. + +##Tokenomics Breakdown + +💰 **Max supply**: 100 billion + +💠 **Tax Fee**: 14% + +♻️ **BNB Redistribution**: 7% of all transactions have BNB auto-redistributed to $KODI holders. Auto-claimed every 60 minutes + +🔐 **LP Allocation**: 3% of all transactions go to liquidity pool + +💎 **Sell Fee**: 3% extra to all sells with 2% to the BNB dividend pool and 1% to LP + +🐳 **Anti whale/dump lock**: Sells are restricted to less than 0.1% of the total supply + +📱 **Marketing and Development**: 4% tax goes to a separate marketing BNB pool. A marketing wallet with 3% of the total supply will also collect BNB. + +🕹 **Sweep Widget**: the SweepWidget tool will be used to hold contests to give all TG members a fair chance at earning a spot on the presale. + +🏆 **150 BNB Marketing**: A 150 BNB private sale was held with all funds going towards pre launch marketing. + + +##Token Launch + +📟 **DXSale Presale** 📟 + +**Details**: + +Thursday August 17th, 2021: 17:00 UTC + +🔰 **Soft cap**: 300 BNB + +🔰 **Hard cap**: 450 BNB + +KODIAK is going to launch on DXSale Network using their new whitelist feature to help minimize the use of bots. This will help more dedicated members get into the presale and further ensure the projects success! + +KODIAK token is a place where all crypto enthusiasts bear-long! +