diff --git "a/reddit_finance_43_250k_20.txt" "b/reddit_finance_43_250k_20.txt" new file mode 100644--- /dev/null +++ "b/reddit_finance_43_250k_20.txt" @@ -0,0 +1,10000 @@ +B) they would give out answers, not do an interactive puzzle hunt + +C) how to keep people busy with "busywork" and base everything off of conjecture and special "emoji's" because those emoji's mean something. + +&#x200B; + +So ffs please chill guys, I know you guys want an insider to come help us, but the chances of us actually seeing an actual insider here are slim to none. + +&#x200B; + +https://preview.redd.it/1httqb9f1wu61.jpg?width=640&format=pjpg&auto=webp&s=9e3d7e7eb658f139055f2f6f523b28558f2a58cf + +# YOU GET A PROXY, AND YOU GET A PROXY EVERYONE GETS A PROXY + +&#x200B; + +Ok so yesterday ya boi GME released their proxy statements and oof let's go through them for a bit as there is a lot to unpack. + +Form 14A: + +[https://gamestop.gcs-web.com/node/18846/html](https://gamestop.gcs-web.com/node/18846/html) + +Supplemental proxy material (incl how to vote): + +[https://gamestop.gcs-web.com/node/18841/html](https://gamestop.gcs-web.com/node/18841/html) + +&#x200B; + +Ok first of all lets take a look at the big one (and one of the questions I've seen the most here), it's now set in stone that the annual shareholders meeting is on 6/9 + +it said that you need to be a shareholder by the 15th of April. + +Does this mean the shares needed to be recalled by the 15th of April? No. + +This means that you need to have bought your shares before the 15th to be able to vote, the shares can be recalled until 10 days before the meeting, meaning at the latest we'll see the institutions recall their shares up to 29th of May (t+2). + +So putting this next to the Iborrowdesk site's info on the cost % of last year and knowing this it's fair to make the conclusion that they have not yet started the recall, but will start doing so in the next few weeks if they want to do so, and I believe they do. + +# Total float + +We also learned from them directly that the available float is only about 26.7 million. + +# Institutional ownership + +What we also learned is the total of institutional ownership which is up to date (at least I believe so) and they own ‭33.333.438‬ (‭58,5‬%) + +This however does not include the amount of shares held by institutions bellow the 5% reporting threshold. + +# Director ownership (insider owners) + +We learned the total shares on the inside is 11,674,085 (16.5%) + +This means that 75% of the total shares are locked up or ‭45.008.523‬ shares in total. + +Meaning that 26.7 is the float (give or take). + +(fun fact DFV owns roughly over 1.25% of that publicly available float) + +&#x200B; + +&#x200B; + +[Ever leveled a character to max stats? Rc did](https://preview.redd.it/53o6pu416wu61.png?width=640&format=png&auto=webp&s=1412855090bf823d2fb5ac621abc68890402606a) + +Now they brought in an external party to overview who would be best placed where, and who would be the best at certain positions. + +What did caught my eye was page 47 and page 48. + + Page 47 + Actual and Expected Executive Separations + In the case of Messrs. Homeister and Sherman, + the table below presents an updated estimate of their expected severance + rights, with stock values based on the closing price of our common stock + on April 15, 2021 ($156.44). This is supplemental information and + is provided to give more current estimates of these executives’ severance + rights in light of their impending departures based on updated stock + prices, updated share amounts and, + in the case of Mr. Sherman, revised severance terms. + +&#x200B; + + + Page 48. + The amount shown in the table represents the value of 812,703 shares of + time-vested restricted stock that are expected to vest on an accelerated + basis in connection with Mr. Sherman’s departure, based on the closing + price of our common stock on April 15, 2021 ($156.44). + This does not include 308,477 shares of time-vested restricted stock + that are expected to vest in the ordinary course on June 9, 2021, + prior to the presently expected date of Mr. Sherman’s departure. + +That last sentence, "THE EXPECTED DATE OF MR. SHERMAN'S DEPARTURE". aka the board still wants him gone. ofcourse mr Sherman brings with him years of experience with brick and mortar stores but I believe he may still be on the way out and this is his hail mary, I know that if I had a vote I would not keep someone who failed for years in a ceo position. + +&#x200B; + +I'm sure there is way more to unpack in these documents but this is what I was able to find so far. + +&#x200B; + +https://preview.redd.it/wa7l2nfr8wu61.png?width=640&format=png&auto=webp&s=db8cb67d12f8deb960dbd007098b7f73299825de + +Unfortunately I have to end on some bad news, I've been doing these posts for months now, day in day out, often resulting in workdays of 10 to 15 hours a day. and at this point it has began taking its toll on me. + +I'm just tired guys, I'm so fucking tired. + +Checking everything, making dailies, moderating everything has asked a serious amount of me, I've started neglecting a lot of parts of my life and the most important people to me. And now a time has come where I have to take care of my own own personal mental and physical health. + +So where to from here? + +I will be taking a break, I'm not sure for how long, this could be a few days, a week or maybe longer. + +I will still be on the moderator team but I will be in a more "background" role advising and helping the team whenever and wherever I can, and I'm thankful that the entire mod team has my back in this and being super supportive. + +&#x200B; + +Will the dailies be over? Nope! + +I had a good talk with the team and two mods will be taking over for me. + +Our very own u/Bye_Triangle as Brick Tamland, and u/pinkcatsonacid as our Veronica Corningstone. they will be filing in for me as I rest up. how they do so is fully up to them. + +&#x200B; + +If I can leave you with some advice for when I'm wrong it would be this: + +Avoid tin foil, even if it looks tempting. + +Think critically about everything, this includes your own opinion, be open to the idea of being wrong with something, this leaves room to learn and change what you believe. + +Always question everything, always. + +Don't kneejerk react, if you see something take a step back, reflect on it and then come back, rule your emotions before they rule you. and decisions made on emotions are often hard to come back from. + +And plan your exit strategy + +&#x200B; + +&#x200B; + +https://preview.redd.it/fd27nz32awu61.jpg?width=640&format=pjpg&auto=webp&s=447bb50cb3c76dcca5c7978b0614b073ffd3f028 + +&#x200B; + +https://preview.redd.it/63w1ngmyawu61.png?width=554&format=png&auto=webp&s=c9a5f529c08461f596b1ecc90bf9a83a56d500fb + +# 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/npxi11n2bwu61.png?width=400&format=png&auto=webp&s=9cd12a73ad693c29f8f94cb3ad2ceadfa3b2b3ba + + + +Remember none of this is financial advice, I'm so retarded I'm not allowed to go to the zoo 'cause they'll put me in the cage with the rest of my ape brothers. + +If anything happens throughout the day I will be adding it here. + +backups: + +[https://gmebackup.tumblr.com/](https://gmebackup.tumblr.com/) + +[https://twitter.com/rensole](https://twitter.com/rensole) + +[https://twitter.com/HeyItsPixel1](https://twitter.com/HeyItsPixel1) + +[https://twitter.com/warden\_elite](https://twitter.com/warden_elite) + +[https://twitter.com/RedChessQueen99](https://twitter.com/RedChessQueen99) + +[https://twitter.com/PinkCatsOnAcid](https://twitter.com/PinkCatsOnAcid) + +And I'll be posting updates as they happen here: + +&#x200B; + +This was Ren Burgundy, signing off... well for now. + +I love you guys and love this community and I'll hopefully be back soon with more energy and a more relaxed state, in the meantime take care of eachother ok? be excellent to everyone. + +See you soon <3 +I sold my ADA a few days ago because I feel once smart contracts are live price will correct in a big way until there's an actual ecosystem and value in the network. + +It's hard for me to conceive the 90 billions dollar market cap with no real usage right, just a promise. + +I will definitely consider buying again in the future, so it's not an ADA hate post or anything like that. + +What are your thoughts or strategy around ADA? +At my company they offer 1/2 of what I put in up to me 10% and them 5%. It isn't specifically stated in the handbook but it was just known through word of mouth. I initially put in 10% through my first year just to get the match. + + +Recently I've been set on retiring earlier so I decided to up my contributions to 25%. The HR lady physically came up to me to make sure it wasn't a typo in my email. She even made me put in writing that I wanted to change my contribution from 10% to 25% and wanted to tell me that I would still only get 5% from the company. Apparently it is extremely uncommon if not unheard of for employees to put in over 10%. + + +I just checked my 401k transactions and saw that not only did I get my 25%, but the company matched 1/2 of that and contributed 12.5%. + + +Now, I had heard in the past that they will match 1/2 of what I put in up to $5,000 total. That makes me hesitant to say anything in case I'm grandfathered into the old plan. And I can't really believe the HR lady because she just repeats what she has heard through word of mouth. Nothing is in writing anywhere and I can't talk to anybody about it because nobody knows what is going on. Our plant is a remote location from a company in a foreign country. + + +What do I do? + + +Edit: Can they come calling for it at a later date? How do returns and losses affect that? If they give me $500 and try to take it away but the market tanks, do they still take $500 or a "market adjusted" $500? + + +/u/minorcommentmaker addressed this: + + +https://www.irs.gov/retirement-plans/401k-plan-fix-it-guide + + +>The rule for them not correctly following the plan is that they need to apply corrective action that ends up with you in the same position you would have been in if they didn't make a mistake. + +>So they are supposed to take a "market adjusted" $500. If the market has gone up, they can take more than $500. If they market has gone down, they should take less than $500. +I think a problem a lot of economics students face is that there is a monopolist market when it comes to YouTube channels. I am talking about Economics Explained. This seems to lead to dead weight loss as many of us go unsatisfied as he is not great when it comes to original takes and theoretical knowledge. It would be a huge help if someone could point me to a good economics YouTube channel and make the market more competitive. + +Thank You +I think a problem a lot of economics students face is that there is a monopolist market when it comes to YouTube channels. I am talking about Economics Explained. This seems to lead to dead weight loss as many of us go unsatisfied as he is not great when it comes to original takes and theoretical knowledge. It would be a huge help if someone could point me to a good economics YouTube channel and make the market more competitive. + +Thank You +I'm entering my 30s and living nearly paycheck to paycheck while starting a portfolio with less than a hundred dollars. I can put 50 dollars a month into this from my paycheck with the high probability of more in the future as bonuses/tax returns and raises come in. Ideally I'd like to be retired at 60 as a hard limit, with the option to be semi retired in 20 years. (Lower hours, less stress, time with family) + +I guess my question is, given the low amount of start money and deposits, what would be the best path to making this happen? Retirement for me would mean 2k a month in dividend distributions (which sounds insane to me considering the size of my portfolio that id need). I was rolling around the idea of going 40/60% SCHD/JEPI and these would be in a taxable account in case of emergencies (Being poor and having kids.) With maybe a bit of O when the price is right. + +I don't want to make the mistake of chasing a high yield stock just because I feel like I'm behind, but I am also feeling the pressure of not investing 10+ years ago when I should have. What would you do in my situation? (Not considering any of this as financial advice. I will research any answers given on my own and draw my own conclusions and plans to proceed.) +Expanded version: last Saturday night, my partner had passengers in her car when she got in a minor collision with another (ironically) Lyft driver who was between rides. My partners car had substantial damage, and was undrivable. Since the accident happened at an intersection where a local rapid commute light rail track ran through, local transit authorities called a tow company on their own accord, which promptly came and stole her vehicle to be taken to a tow yard while we were on the phone with our insurance making arrangements for our own tow truck that insurance would cover. The officer on scene deemed no driver was at fault, and did not make a report. Now 3 days have passed, and the car is still in the tow yard, racking up storage fees. Our insurance doesn't want to touch the case since it was a Lyft incident, and won't even cover a rental car while we get everything sorted out. Today, finally, someone got in touch with us from Lyft saying they will not cover any towing or storage fees ($300), and they have a $2,500 deductable. We are both college students, and while financially responsible, cannot afford that kind of money for repairs. Does anyone have any advice to offer for what to do next? We feel as though we have exhausted all options, filing claims with both sides, but getting shut down either way we go. Any advice is appreciated. + +EDIT - Thank you all for your contributions to the post. Even just having someone else pitch their opinion on the case is reassuring for us. Ultimately it all boils down to us taking a financial hit, but this is a huge lesson to everyone who drives for a ride share company to check insurance coverage. I will be spreading awareness of this on social media so others don't get caught in the trap. ✌️ +I just had a pretty shocking thought. I currently pay an extra $100 a month extra towards my mortgage and have been doing so for about 5 years but I realized I won't see the benefits of that $100 until my home is completely paid off. + +Wouldn't I be better off investing that $100 into the market or even a high interest saving account until I have enough to pay off all of my mortgage and then do so in on lump sum? + +Even if I only got a 1% return on my money by investing it, I would still pay off my mortgage earlier then putting extra money towards my principle every month. + +Is this assumption correct? That if I want to pay off my mortgage I am better off investing my money first and then paying off the mortgage in one lump sum rather then paying a little extra every month? +i figure someone in this sub might be able to point me in the right direction. are there any real estate agents that have sold homes to exotic dancers knowing what they did for work? did they have to prove their income to you or their bank? i’m a first time buyer and this would be a home/condo for myself +It is that time of the year, employers have started asking for proofs to approve tax deductions. Are you ready to claim tax deductions? Let's discuss about the options available. + +**HRA** + +If you are staying in a rented house, you should make use of this component. There is virtually no limit for HRA and you can use the calculators provided by your employers (or anything in web) to calculate it. + +**Food, Fuel & Mobile reimbursements/coupons.** + +This generally comes around 6-7K per month and you can claim close to 72-84K in tax exemptions. + +**80C - Insurance & Investments - 1.5L** + +Life Insurance Policies, 5 year FD, ELSS Funds, PPF, VPF, EPF/NPS are generally covered, in addition to ULIPs. Most of us utilize this to maximum. + +**80 CC(D) - NPS - 50K** + +Investing in NPS Tier 1 will get us another 50K in tax deductions, but lot of people are against NPS as it has 40% mandatory component. + +**80 D - Health Insurance - 75K** + +It is split into 2 components. + +1. You can claim a deduction up to ₹25,000 per year for health insurance premiums +2. If you have senior citizen parents and are paying premiums for them, you can claim an additional deduction of ₹50,000 for this. + +In total, you get 75K tax excemption. + +**80 DDB - Medical Treatment - 40-100K** + +Deduction on expenditure incurred for the treatment of dependent family members for diseases can be claimed under this. The ceiling for this deduction is ₹40,000 which goes to ₹100,000 for senior citizens. + +**80 G - Donations** + +The deduction can be 100% of the amount contributed or 50% of the amount contributed depending on the type of institution you have donated to. + +With Covid raging in April & May, most of us would have donated money to PM Cares with gives 100% deduction. + +There are lot of options on this front. Ask the organisation you have contributed to for an 80G certificate in order to substantiate your claim. + +**80 E - Education Loan Interest** + +There is no upper ceiling on the deduction. You should obtain a statement from your bank showing the breakup of the principal repayment and the interest for the loan. Note only the Interest on education loan is deductible. + +&#x200B; + +Have you submitted your proofs for this year? Are there any other options available? What are the one you generally use and the one you generally avoid and why? Let's have healthy discussion around this. + +Note: Even if you don't submit your proofs to employers, you can submit it later while filing ITR and can claim refunds. But I prefer the easy route. +Hey all. Had a letter from our estate agents this morning about a rent increase from £1100 to £1500 per month starting 1st September. It's just me and my mum here, dad passed in 2019. We both work full time and just about get by. This instant £400 kick to the shins will hurt a lot. I'm assuming there's fuck all we can do but i'm posting here anyway. Is that just it now or is there anything that can be done? This country man, fucking hell. +Not a fun post to write... + +My spouse and I are on the verge of divorce... likely when, not if. Both are decent earners ($300k+) with a young kid in a HCOL area. + +While I'm not without my flaws, they've become verbally abusive, in particular in front of our kid, which is a red line for me. There are other issues, but this isn't a therapy post. + +Rather, I'm looking for ways to trade money for an easier transition for the little one. Outside of having one individual retain the home (and carry the mortgage), are there any other recommendations? Not burning money on lawyers and a protracted custody battle is an obvious one, but I'm wondering if there are others we should be considering (e.g., overpaying for a nearby 2nd home, etc)? + +Thanks in advance. +The hedge funds have always manipulated. They have been the alphas, and are beyond arrogant, and that will be their downfall. + +[There is no free market. Cramer is not your friend with proof. This will change your entire outlook.](https://m.youtube.com/watch?v=QFfjX8dW-QQ) + +Full video breakdown. We’ve all seen clips, but this is the whole thing. How it really works. “The stock market has nothing to do with the stocks...It’s just fiction and fiction and fiction...and then get it on CNBC...” + +All of RH orders are satisfied by Citadel. Citadel connects to the exchanges, but RH customers never do. Citadel leant Melvin 2B to pay margin for 400 days @ $300 price. If GME jumps to $1200 that is cut to 100 days. This is why the freedom of supply and demand has been cut to 1 share for gamestop. Citadel can’t let the price rise or Melvin will run out of funds to pay margin too soon. RH has to bow to Citadel’s every whim because they have no connection to any actual exchange. The market is not free. + +The GME shorts are bleeding short fees. + +tell everyone about this video. Spread it. The world must know. + +[more GME breakdown](https://mobile.twitter.com/biancoresearch/status/1355265967463542785?prefetchtimestamp=1611998056472) + +Edit: + +“@dlterrie + +Replying to @KralcTrebor +and @RobinhoodApp + + +Easy to get lost in the minutia. The core issue is that the shorts were not prevented from trading when retail was. This rigs the system in their favor.” +Who the hell would pay $300 a month HOA fee to live in a $250k house? Yet apparently they do, right? I know these areas personally, they are nothing special at all. +https://www.marketwatch.com/story/ge-to-freeze-pensions-for-about-20000-employees-stock-surges-2019-10-07 + +I see a lot of posts here about pensions vs 401ks, or people who say "I'm not worried because I've got a great pension plan", or something to that effect. + +Well, this is a stark reminder that pensions are not bulletproof. Yes, ALL investing is some form of gambling, but with 401ks and IRAs it's at least YOUR money, which you control and can withdraw as needed. I am *not* saying that pensions are inherently bad and that no one should ever use one. They are a great cushion to your other assets. But please, please, please: do not SKIP other forms of investing because you think you're going to be set for life in retirement thanks to a company pension plan. +My question is motivated by an attempt recently to explicitly define for myself, in my own mind, what the term "fiat" really means in this context. Of course one could specify that by fiat they mean only \*government\* fiat, but that isn't a satisfying distinction to me since whether it's a group of govt officials saying "this is what we say it's worth today" or whether it's a group of gold investors saying it, it still seems to me to be the same fundamentally arbitrary process. +There's a lot of talk about Apple's privacy policy destroying FB's ad business and TikTok destroying Meta's family of apps user growth. And sure both those things have some negative impact on that metric. But their advertising business saw it's highest quarter revenue ever and its family of Apps saw it's largest quarter operating profit ever. Ad revenue was 14% higher than the previous high and FoA profit was up 7%. So their core business is still growing. But the perception being pushed out is that FB is doomed. The reality is their investment into Reality Labs is what is causing profits to be lower than last years 4th quarter. But reality Labs is essentially Research & Development mostly. That is not the same thing as their core business shrinking. Not even close. But it's being priced as if it is. Huge disconnect. + +I am Long FB. +First up to be absolutely clear: this sub supports sex workers. Sex workers are welcome to post to UKPF for help with their financial questions, taxes, budgets etc and absolutely no rude or judgmental responses will be tolerated. + +Things that are banned however: + +## Suggesting OP gets an onlyfans + +This is a very common response to posts about wanting a 'side hustle', needing to earn more to cover expenses, etc. + +* 'get an onlyfans' +* 'tried onlyfans?' +* 'onlyfans?!' +* 'onlyfans lol' +* 'onlyfans.' + +Stop. + +* You're not as brilliantly original as you think you are. Posts about needing to increase income can get dozens of comments along these lines, *overwhelmingly* more so if OP discloses they're female. +* It makes UKPF feel like a boy's club. +* To reflexively suggest 'onlyfans' as a solution to money troubles when OP hasn't mentioned any interest in it does not feel like a genuinely helpful suggestion. It feels inappropriate. It can be actually upsetting. + +If OP is considering sex work, online or in person, they absolutely can ask for advice relating to that. It's not on you to bring it up, especially in a flippant one word suggestion. + +## 'Hookers and blow' / 'coke and hookers' / 'just don't blow it all on hookers and casinos' + +We understand that these phrases are a bit of a meme, and intended to describe lavish spending in a funny and harmless way. + +However, the term 'hooker' can be seen as derogatory. And seeing this meme all over the sub contributes to the 'boys club' feel which can make women (and also sex workers!) feel unwelcome, or at least remarkable and out of the ordinary - certainly not the 'expected' audience of your post. + +Please just pick a different phrase to indicate carefree or irresponsible spending. + +Edit: [a bit more context about this, and how overused this phrase was before this rule came in](https://www.reddit.com/r/UKPersonalFinance/comments/rhyc7i/why_your_comment_got_removed_get_an_onlyfans_and/hottuel/). + +-- + +*Admin note*: this policy was first announced in [this original mod post in Nov 2020](https://www.reddit.com/r/UKPersonalFinance/comments/k22teq/mod_post_hey_ukpf_lets_talk_about_hookers_coke/), which has lots of interesting comments from people talking about the effect this language has had on their participation in the sub from back when it was more pervasive. + +To people reading this newer post, hopefully you actually haven't noticed these problem comments around the sub often, as we've gotten super quick and efficient at removing them :) (but trust us, they're still being posted, lol). +I wanted to create a Groww account only for Mutual Funds. There's seems to be no way to do just that. Onboarding and KYC, in my opinion, are not transparent. There's no clarity (or choice) on what you are signing up for. + +Upon reaching out to customer support, they said DEMAT is [mandatory](https://ibb.co/MhGcRzc). Just r/assholedesign imo. + +**Note:** As of today, there are no opening/maintenance charges for the DEMAT account. +I'm scared of this economy being built on paper money with companies being valued at insane multiples and countries being overloaded with national debts. Meanwhile governments are printing money as a stimulus at the cost of inflation and flooding the market with excess of devalued currencies. + +An average Canadian can't leverage debt so it throws money into the equity market hoping to luck out, instead of spending the money and circulating it back into the economy. The government is making policy choices that make jobs disappear and every sector other than tech is getting decimated and falling behind in times. + +I sense some form of major correction due, especially with money being thrown at tech and real estate particularly. A lot of people will bleed when the market re-balances. Just like in 2018. No way this economy holds up, surely we must be skating on thin ice. +**So I sold the last of my 22ish BTC yesterday.** + +I first got in around September of 2013 when the price was $130. I later set up a weekly buy on Coinbase buying the majority of my coins between $200 to $400. My original goal back then was to accumulate 21 BTC and be in the million club. I turned it off in 2015 once I was well over 21 coins. Of course looking back I wish I had never turned it off. + +**So why did I sell?** The value is now enough that I can pay my capital gains and still have enough to pay off my house leaving me completely debt free. I found myself constantly stressing over the fact I was storing close to 200K and I also fully expect a pull back at some point soon. Once my house is paid off I will most likely start buying back in again using money that would have been going towards a house payment. + +**Things I learned** +**Test your recovery process.** If you have a hardware wallet (and you should) send a small amount of crypto to it then wipe it and reload it using your seed. This made me much more confident using the wallet once I had done this and knew that recovery was pretty simple. Also use a passphrase, but make sure it is one you will never forget. + +**Store your seed securely.** I used a metal stamp to punch my seed into a ¼ inch steel plate. After that I dipped it in plastisol so it cannot be read and stored it in my safe with a description written on the outside. I also had another copy of the seed stored behind a picture at a trusted family member’s house just in case. + +**Sending a BTC transaction for tens of thousands of dollars is extremely stressful.** I first moved my coins from Coinbase to a hardware wallet before the BCH fork (yes, I was stupid and stored them on an exchange, although I did use their cold storage feature so there was a waiting period before they could be moved if my account was compromised). It was a long 15 minutes before the transaction showed up on the blockchain (I think Coinbase batches transactions up before sending) so I was freaking out that I had done something wrong and all my coins were gone. I wanted to save on transaction fees, but I should have moved them in smaller increments. + +**Weekly buys and dollar cost averaging is the way to buy.** I never had to think about the weekly buy so it was worth the small amount I paid for fees. Over time I was able to build a substantial sum. + +**It takes a long time to get out due to limits.** I was limited to 10K withdrawal per day so it is taking a while to transition to fiat. I applied for an increase but it was denied for some reason. I am pretty happy with Coinbase, but they are obviously dealing with growing pains. After withdrawing around 50K they quit letting me withdraw and said I needed to do some more verification. I tried uploading my license but the verification kept failing with a blank error message. I submitted a support ticket and heard nothing for several days. I finally remembered that they had recently added phone support so found the number and called. I only had to wait about 10 minutes until I talked to someone and they were very helpful. It turns out I was supposed to be prompted to use a web cam to take a selfie after uploading my license. Once I found that out I did it on my laptop that has a camera and was verified within 5 minutes. I had no problems with withdrawals after that. + +**Capital gains suck.** I took all the risk of buying into crypto yet I am going to be on the hook for close to 30K to the government for my long term gains. There is no way I am fucking around with the IRS though, so I will happily pay them. I still have some other crypto and will most likely start buying back in again in a few months. In a few years when I retire I will most likely try to live off of 37.5K income per year from selling crypto so I do not have to pay those capital gains. After a few years of that I will dip into my traditional retirement accounts. I still need to find out if I need to pay an estimated tax payment this quarter to avoid a penalty for not having enough taken out of my paycheck to cover my taxes for the year. + +My hat is off to those that are still hodling. It has already gone up quite a bit since I sold. I might look back at selling and kick myself in the future, but right now the thought of being debt free is pretty liberating. +**It has been one fucking hell of a ride and I will be back on the coaster with the rest of you soon!** + +This may seem like a dumb question, but why do we pay unemployment benefits to people for nothing, rather than paying people to work on infrastructure projects for the same price? This seems obvious to me but I’m not sure if there’s some hidden downside to that or if it’s just a political problem. + +Edit: lots of people saying that not everyone can do construction, which is fair. But I imagine there are lots of non-construction jobs that could be beneficial to do as well, like street cleaning or something. + +Edit 2: obviously high unemployment caused by coronavirus caused this question, but I’m asking in a general sense + +>Many of Fidelity’s retirement savers continued to contribute steadily with an average contribution of 8.9%, and 15% of savers even upped their contributions. Just 3% of 401(k) participants stopped buying stocks with their contributions. + +>Vanguard told Yahoo Finance that its clients have “overwhelmingly stayed the course,” with just 10.7% of U.S. households trading between Feb. 19 and April 17. + +>“Of those trading, 44% made only one trade during this period,” said Vanguard’s Felicia Melvin. And only 17% of people who made a trade made more than six. + +>Again, very few people stopped investing in equities: 0.6% of investors moved into an all-cash position while two-thirds of households moved into equities, though cash-wise more money flowed into fixed income. + +https://finance.yahoo.com/amphtml/news/vanguard-and-fidelity-investors-didnt-flinch-as-the-market-tanked-123748314.html + + +Surprising vast majority of 401k participants are staying the course, unlike /r/investing, and it seems these people are really unaffected by the overall mass unemployment. Vast majority of those out of work today don’t have 401k or incomes to contribute in the first place. Anyone think 401k investors are large reason why the market has had every dip being bought? The bottom is clearly past us. +I took over my portfolio in May of 2020 with $264k and BTFD all summer into fall. I saw the unicorn market was weak in October and began transitioning to a dividend portfolio. I refuse to hold dead stock (and I categorize KO T and IBM as that). I now have $372k invested and am a few hundred dollars short $20k a year in dividends and should have 10% growth on top of that. I have some dry powder to get me to my goal over the next 30 days. It's been a challenge to get here, but I've enjoyed the journey. Shout out to Tesla and they fat gains I made there. I no longer own any stock that doesn't pay a dividend. I have no dividend traps and I didn't chase yield. I do own a few CEFs and some ETFs. This market gave me the chance to start my own business so I can work from home and I hope this portfolio allows me to retire early. My goal now is to increase my dividends by $5k every year for the next 5 years. Good luck to those just starting out! +A frequent claim of the right is that socialism doesn't work because it causes issues like hyperinflation seen in Venezuela and, historically, Chile. However, as I understand it Saudi Arabia and Mexico have nationalized oil, and many other countries have mixed ownership between the public and private sector, such as Norway. So when the price of oil dropped, why did some countries persevere, and Venezuela didn't? +Sometimes I find living in US is so draining so I wonder if we should consider FatFire in Europe. I think I like being a little foreign in places than being a local and know everybody’s aunt. We should have enough net worth to live in most countries and I was wondering if there is any US citizen looking into this? + +The most important thing for us is high quality education for our kids. They will be elementary school. And second most important is travel, and quality of living. +Hello dear investor! +xxxNifty is a registered business, utilizing Blockchain technology with its utility token, in several facets of their business. Some key points about xxxNifty include : + +Launch of the Alpha release of Pleasurely.com, xxxNifty's Adult Social Platform. (OnlyFans Competitor) + +Just sold an OnlyFan xxxNifty Amouranth OnlyPunks NFT for over $125,000 using $NSFW on their World's largest adult NFT marketplace. + +-Web 3.0 Revolutionary NFT Marketplace upgrade coming soon!!! + +- The World’s Largest Adult NFT Platform, to date. Their Utility Token $NSFW is used for purchases in the marketplace. + +-New Centralized Exchanges are being announced next week. + +-New Staking program is being announced! + +-Pornhub Marketing w/ No Face Girl just launched! + +- Merch.xxxnifty.com is the xxxNifty Merch store! + +- Nsfwpay.com makes buying $NSFW a breeze via flooz trade! + +-State of the Art Algorithmic NFT project being built out + +If this isn't enough, On Pleasurely.com, interacting with creators will be as easy as the push of a button! Tip with $NSFW. Interact in live streams with $NSFW. Messaging and unlocking posts and other content With $NSFW! And lastly, Interacting & Unlocking creator’s social feeds with + +$NSFW! Once launched, the team will be looking into furthering and expanding the platform as +well! + +✔️1000s of Adult NFTs on their Marketplace. + +✔️140+ creators on the platform to date (no matter of gender anymore!) Adding more daily + +✔️1000+ NFT sales. + +✔️8 partnerships w/Agencies + +✔️- Top of the line VIPs ( Amouranth, Lexi Lore, Stormy Daniels, NoFaceGirl, Ashley D, Cali Carter, Sarah Lace, Poly Annie, Adreena Winters, Jannicke Queen SkyDive, and Silfy Star) + +✔️Deflationary Tokenomics benefit holders + +✔️Daily NFT sales + +✔️$17 million MC, 2 working platforms utilizing the utility of their native [NSFW] token + +✔️XXXNIFTY is a registered business, meaning devs and team are all doxxed + +✔️TechRate Audit approved + +The number of holders, content creators, and partners is growing day by day. Check it out for yourself as well, be a member of an industry-changing project, and join an amazing community! + +TOKENOMICS + +Total Supply 69,696,969,420 + +2% LP Pool Growth + +2% Holder Reflections + +2% Burned + +4% Marketing & Dev wallet + +Over 40% Of Supply Burned + +Liquidity Locked + +Liquidity is locked for 12 months on Pancakeswap + +========================================================= + +CoinMarketCap: https://coinmarketcap.com/currencies/xxxnifty/ + +========================================================= + +CoinGecko: https://www.coingecko.com/en/coins/xxxnifty + +========================================================== + +🌐Website: + +SFW with: https://nsfwpay.com + +NSFW: https://xxxnifty.com + +========================================================== + +📱Telegram: + +https://t.me/xxxnifty_official + +https://t.me/xxxNiftyAnnouncements + +========================================================== + +🟦Twitter: + +https://twitter.com/XxxNifty + +========================================================== + +📃Contract : + +0x9daaa05946e486add2c81e0d32d936866b8449d9 + +========================================================== + +🔒Liquidity is locked for 12 months +Six fucking percent for a week of work. That's what realtors want in this market. 3% for the buyer's agent, 3% for the seller's agent, and all they have to do is take some pictures and put that shit up on the internet. It's galling. You have a $500k house and want to sell it? Well, not without paying $30k to some shithead with an MLS account! And it only gets more galling the richer you get. The transaction cost on buying and selling homes is just really, really fucking high when you use an agent. + +And Zillow knows this, and they know people are sick of paying realtors $3,000-$10,000 per hour to sell their homes. + +Today, I just sold an investment property to Zillow. They offered me the Zestimate (their own pricing model which is publicly available on their website), which is great because it's how I valued my house anyway. People are always on Zillow looking to see what shit costs, and they just offered me what they said the house was worth. + +They charged me about $10k in seller concessions to for repairs and shit, which is higher than you might pay normally, but this is directly in line with my own estimations for what I would have needed to do to sell the house. + +Finally, they charges .1%. POINT ONE PERCENT as a transaction cost. So at the end of the day, I got exactly the price I expected, I didn't have to deal with anybody's bullshit (buyers, agents, showings, cleanings, contractors, staging, pictures) and I basically did the whole thing online. + +Their tech is also very good. Smooth docusigning, good customer service, even remote/Zoom notary services. + +They are going to spruce this house up and then they are going to sell it on their own platform to another buyer. Even if they don't make a profit, what they just did is FUCK TWO TO FOUR REALTORS out of their commissions. + +It's like Sony taking a loss on their hardware to get market share. This is how Zillow is going to win. It was easier and cheaper and I dont' feel slightly fucked. But realtors are fucked. I think Z has earnings on 8/5. I'm thinking about an option play but I don't know. My wife bought like 15k of their stock for a long term hold in her roth, so that's all we've got for now. What do you think? +I had a savings account with ICICI bank, which I used for my online shopping, cash withdrawal and UPI payments. + +One day I analyzed my passbook, and I realized that I was spending around 1000 Rs p.a. for a debit card I rarely used and was charged two times for not maintaining the MAB (was duped into opening an account with MAB of 25k to reach the sales target). + +Other than that, several different charges were getting deducted, which I was unable to decipher by looking at my passbook statement. + +Getting raged at how my hard earned money was being siphoned off, I decided to close that account and researched about getting a cheap yet effective savings account. + +Now I use Post Office Savings Account (POSA) to store my liquid money and have integrated an India Post Payment Bank (IPPB) account with it to get almost all functions that my ICICI account had. + +Actually, money in POSA is stored with National Savings Scheme account of GoI, therefore it is not integrated with other banks though NEFT/UPI/RTGS etc. That is why you need to have an IPPB account linked with it for seamless money transfer. + +IPPB account act as an interface or "spending" account while POSA acts as a "storage" account, means you can load up your IPPB account from POSA and spend money, and also transfer back money to POSA. + +Despite this two fold system, I have found it a better banking service for most people. + +Following is a list of advantages - + +1. Interest rate of 4% p.a. in POSA compared to a measly 2.5% in banks. +2. Absolutely free RuPay debit card with POSA (no AMC or issuance charges). +3. MAB of Rs 500 in POSA and NIL in IPPB. +4. 100% sovereign guarantee of all money stored in POSA. +5. Separate accounts leads to lower spendings, as you can decide how much to load in IPPB and park away the rest in POSA. +6. Cash withdrawal/ deposit/ passbook update at any post office rather than specific bank branch. +7. Protection from online fraud due to separation of storage and spending accounts. +8. Most importantly, no pesky hidden charges. + +Some disadvantages - + +1. Need to visit post office for POSA account opening and linking with IPPB. +2. Slow customer service at post offices. +3. Post offices are not air conditioned ? + +Once you setup this system though, there is absolutely no reason to go to post office for anything. + +I save around 14k-15k p.a. in form of interest and other charges by using this system. +I just found out a local shitty bank is a publicly traded stock with a 2 billion dollar market cap. And I’d like to short it. + +My plan is to withdraw cash like 100$ from them and deposit it with a different bank then transfer it back to them and withdraw the same 100 $ until they run out of physical cash. I would then go around and let people know that when I tired withdrawing money from them that there was no cash to withdraw. + +This in turn should cause a bank run and I’m assuming a decent amount of people would close their accounts leading for the stock price to fall. + +Puts are extremely cheap and I would love for this bank to go out of business or lose public trust. + +HAs anybody tried this method before? Are there any REAL downsides? +I just wonder how many of us there are that really fit this profile. + + +My closest friend works at Apple and is in this situation earning 400/year but outside of him I don’t think this is a common situation. + + + +Anyway, hi to us if there are any in here. What do you guys do for fun? How much money each year do you allocate to “fun money”? Hope an extremely casual thread like this is allowed. + + +Edit: here’s a list of questions if you feel comfortable answering. + + +1. Do you have kids or want kids? If so how many? Has being rich played a role in this decision? + + +2. How do you splurge, if you do? Like what fancy car did you get or luxury service do you use? + + +3. What hobbies do you have or do you play video games? + + +4. Do you show off wealth, keep it quiet, or a combination of those two? How many of your friends know you’re a millionaire? + + +5. What age do you plan on retiring? + + +6. How much money do you want in retirement and define your needs if you want? + + +7. Did you inherit anything? + + +8. What’s your investment style. Risky stuff or like basic index funds? + + + +9. What material item do you still wish you could have but can’t comfortable get yet? + + +10. How do you feel about your success? +## TLDR; + +## I made a spreadsheet that helps you invest like Warren Buffett — in great companies and for a long time + +# What does this spreadsheet do? + +This spreadsheet puts you in the position of a business owner, who collects the [earnings](https://www.reddit.com/r/stocks/comments/p62wp3/the_biggest_misconception_about_investing/) of their companies on a regular basis. When you own a share you own a part of the business and therefore receive a part of its profits. It does so by automatically tracking and accumulating your Owner’s earnings your shares. All you got to do is input your transactions — ticker symbol, date purchased, number of shares purchased, and share price. + +By removing total portfolio value or day-to-day share price, which is not only irrelevant to long-term investing (mostly), but also suboptimal insofar as it can evoke volatile emotions and trigger poor decisions, as all brokerages do, this spreadsheet helps you make calmer decisions and stay invested. + +*For those of you unfamiliar with* [*Owner's earnings*](https://www.reddit.com/r/ValueInvesting/comments/peo0rp/owners_earnings_how_to_value_a_companys_moat_and/)*, it represents how much cash falls into the business owner’s pockets. Basically it is the amount of cash you’re left with after you spend on whatever you need to to maintain, but not grow, the business and is a more realistic and accurate portrayal of a company's intrinsic value than EPS, Operating Cash or FCF. Here's* [Amazon's](https://m.imgur.com/a/Cis6Hdl) *side-by-side to prove it.* + +# How will it make you a better long-term investor? + +This spreadsheet and the formula behind it have been meticulously designed to make you a better long-term investor. The formula is as follows: + +`Your earnings = Owner's earnings per share * number of shares you own * days held/period` + +To maximize your earnings, you must maximize each of its components. In doing so, you will have achieved the holy grail of long-term value investing: + +**1. Invest in great companies with wide moats** + +To maximize owner’s earnings you must invest in [great companies with wide moats](https://www.reddit.com/r/StockMarket/comments/p8r2lk/how_i_find_investments_that_outearn_outlive_and/) that can and will grow their earnings at a high rate for many years into the future. You don't want a company whose earnings stay the same year after year, you want a company that can grow as fast as possible for as long as possible. + +**2. Buy stocks at a discount instead of panicking when it falls** + +To maximize the number of shares you own you must hunt for value and bargains. You have a limited amount of money to invest so you naturally want to buy as many shares (or earnings) as you can with that money. If two similar companies make $10 a year, one of them selling for $50 a share and the other $25 a share, you're going to go for the one selling for $25 (assuming equal growth rates) because you can buy $20 worth of earnings for the same amount of money. In other words, you want to grow your earnings as efficiently as possible. + +**3. Hold on to companies for the long run and compound your money** + +To maximize days held you must hold onto your shares for as long as possible. The logic behind this is simple: Each day you hold on to a stock, the more money you make. If you hold a stock for a year, you make 100% of its owner’s earnings for that year for every share you owned. If you own it for 6 months you get 50% of its earnings. The longer you hold onto a stock, the more earnings you accumulate, and the more your money compounds. + +Bottom line + +This spreadsheet is an improved, more automatic, and intuitive adaption from a solution I've been using myself and it's helped me become a more calm, collected, rational investor. Without it I would not have had as much fun finding great companies with strong earnings potential, nor would I have held onto them for as long as I have. In other words, it has made me a much more successful long-term investor and I hope it can do the same for you. + +Here's a copy of the spreadsheet: + +[https://docs.google.com/spreadsheets/d/1dkoTDNG\_JWeYP\_GJNW8f\_MVXfDbSWyZPlfTRo28OUM/edit?usp=sharing](https://docs.google.com/spreadsheets/d/1dkoTDNG_JWeYP-_GJNW8f_MVXfDbSWyZPlfTRo28OUM/edit?usp=sharing) + +Here is a video tutorial: + +[https://drive.google.com/file/d/1IuXwj8p6vi9XiaYWaOdDdLw3Urg34j6S/view?usp=drivesdk](https://drive.google.com/file/d/1IuXwj8p6vi9XiaYWaOdDdLw3Urg34j6S/view?usp=drivesdk) + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +\*\*Future updates:\*\*I will continuously update this spreadsheet to make it better, introduce greater functionality, and make it even more enjoyable to use (I am working on a version 2 as I write this). + +I put in a lot of effort in this sheet and it would really mean a lot to me if you could spare an extra 1 minute to share your feedback too ❤️ + +*Looking forward to your feedback, comments, criticisms to make this even better* 🙂 + +\*Disclaimer: I've gotten approval from the mods to post this +Welcome to the Daily General Discussion thread of /r/EthTrader. + +Find the latest Daily Altcoin Discussion thread by selecting the top result on this [search page](https://www.reddit.com/r/ethtrader/search?q=Daily+Altcoin+Discussion&include_over_18=on&restrict_sr=on&t=all&sort=new). + +*** + +The thread guidelines are as follows: + +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All sub rules apply here so please review our **[rules page](https://www.reddit.com/r/ethtrader/about/rules/)** to become familiar with them. The rules page is also linked in the announcement bar above. +- If the top page becomes overloaded with memes, all but the top two voted may be removed. If we need to remove a bunch of memes from the top page, post memes in this thread first and upvote the best so the mods know which ones to keep + +*** + + Resources and other information: + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! + +i retired in 2019. i have a spreadsheet set up with all of my wife's and my own income sources along with our estimated expenses. the spreadsheet runs through my age 100. i had planned for my ira to reach $600K in december of 2022, but i just reached that milestone this week. my annual dividends are at about $36k, and i am not planning to touch this account until i am required to by law (currently 72.5 years old, or 8 years from now). based on my projections, i should be able to grow my account to around $1.2 million by that time, and have annual dividends approaching $72k. + +until then, we will be living off a combination of income from a rental property that we own, savings, and eventually my social security (currently planning to claim at age 67). + +i just need to stick to my plans and not get too greedy or fearful. +Hi guys, + + +It is a sinking feeling to know that I have lost around 26k USD in forex till date. This is almost 12% of my current net worth so it is SIGNIFICANT. +I understand most retail traders lose money in forex, so shall I pull out of it? +Hopefully this is good news and they can finally reduce their ridiculous fees and dealing charges to attract new customers. + +https://www.thetimes.co.uk/article/hargreaves-lansdown-hit-by-baby-boomers-fears-q83gkjlg2 +Met someone I like and we've been dating for a few months and I have been communicative about my "fatFIRE" goals with her. She seems to be excited and interested in the idea but I don't feel she has the same drive. At a point where I am trying to figure out our long-term prospects. + +For all of you in the community who are married/in long-term relationships... how important has it been in your opinion, that both partners be on the same page about fatFIRE goals? + +\*I'm about 10 years away from my fatFIRE goals, so it's going to be hustle-hustle for the foreseeable future. + +Thanks for taking the time to read! + +Update: Thanks everyone for the overwhelming response and taking the time to share your experiences/thoughts. Much appreciated! +I unfortunately get really confused when trying to read financial statements from public companies. I ask this question to forecast what the possibilities will be when there is another market crash, whenever that may be. + +Companies like Blackrock are buying up tons of single family homes and renting them back out. I imagine if they are doing this with cash, they can ride out pretty much any economic conditions, but if they are leveraging themselves into these assets, is there a chance they would default on loans and have to essentially liquidate their housing supply onto the market? This could offer a window of opportunity for people to buy an affordable home. + +I know, I know, it could be a while. But market cycles have gone through crashes fairly consistently since the industrial revolution, and another will come, and I don’t think COVID counted based on the almost immediate asset and securities recovery. + +Please share your thoughts, mainly about how fucked Blackrock and other investment firms with housing assets may be in a crash, and if/how much they would be forced to sell, and if those sales could be a good bargain at that time. +[https://www.newsweek.com/ceo-compensation-has-risen-940-percent-since-1978-worker-compensation-has-only-increased-12-1454310](https://www.newsweek.com/ceo-compensation-has-risen-940-percent-since-1978-worker-compensation-has-only-increased-12-1454310) +I've had this question for a few job interviews now, and I never know what the appropriate answer is. What do you say when a company asks what you expect your own rate to be? minimum wage? minimum wage+X? +In my extended family is a 50something ex-business executive who is now FATFIRED and living a good life. (Chris) All due to career success and excellent investments during his working years. + +His life is wonderful except when he interacts with his immediate and extended family. These are rural working-class folks who never had much luck with money but work like dogs in a variety of dirty jobs. On Holidays you can cut the tension with a knife when the extended family brings up all the money that they claim Chris took from the working man. They keep asking him for money and don't feel any shame doing so. They don't understand investing and strongly believe that no one should make more than $75K a year regardless of their education and skills. + +Do you feel this anger in your own working family? What do you make of it? +I'm a final year econ undergrad and despite that I feel like I don't know anything about the subject, it seems like every module (class for Americans) that I take in isolation describes some basic concepts which I'm able to understand and answer questions on when examined, but I don't actually understand the subject. I see renowned economists debate and write articles where I can barely keep up with what they're talking about, so is there a reading list of books that would actually help me better understand contemporary issues? +Even throughout the hodl during the February $40 dip, I still had some nagging doubts. Not anymore. Only time I care about the ticker is when I go to buy more. Patience. Relax. It will come. + +Edit: Thx for awards and positivity. Apes together strong! Buy the dips and hodl :) + +Edit 2: I’m only HODLING X shares cuz that’s all I can afford. Makes me feel good to see how many GORILLAS are out there picking up my slack. Buy an extra one for me 🤝 +4th time trying to post. Trademark approved. + +They seriously don’t want this posted. Don’t know if it’s Reddit or whomever. It’s been auto deleted 3 times. Serious FUD. Moonshot incoming. Gmerica is approved. See link words word works wolf ape wok wood fuck hedgies [gmerica](https://uspto.report/TM/90897211) +I understand that this is a probably a painfully broad question given the amount of different heterodox systems of economics and also that it is perhaps eye rolling in the same way that asking an astronomer “how could there be only one (round) shape of the Earth if people assert there is a flat, ring, etc. earth?” could be. For that I apologize, but I’m curious about what economists think makes mainstream economics commonly more rigorous and predictive than heterodox economics. I’d also be extra happy if there is some additional reading on the subject I could be given. +Long time growth investor, but switched my focus to dividends in Nov of 2019. I was pretty focused while occasionally adding growth positions like Tesla, ARK funds, and IPOs like PLTR, SNOW, U, and a few others. + +However, I lost focus after a year of dividends investing and shifted back to growth. In March, as Tech started loosing steam, decided to focus on dividends again. Focused on adding more shares of QYLD, NUSI, and O. + +In April my goal was to hit 100 shares of QYLD, 100 shares of NUSI, and 75 shares of O. + +QYLD : 183.01 shares of QYLD split between taxable and non-taxable account. Wife added more last week and now she has 55.18 shares. + +NUSI : Added 19.38 shares of NUSI this month, so I have 66.69 shares of NUSI. + +O : Added 6.19 shares this month, so I have 63.9 shares of O. + +The larger main goal for me is receive $100 + a month in passive income and at least $1500 for 2021. In 2020, received $1137.04. + + +Here’s a quick breakdown of what I received in April. + +- - - - + +M1 +Total value : ~$24K +April dividends : $56.79 + +Largest dividends came from QYLD $26.65, +2nd largest came from Iron Mountain $9.87 + +- - - - + +Fidelity (Rollover IRA + HSA) +Total value : ~$28K +April dividends : $18.03 + +Largest dividends came from QYLD $6.99, +2nd largest came from AGG (iShare Core U.S. Aggregate Bond ETF) $2.92 + +- - - - + +Ally (Roth IRA) +Total value : ~$31K +April dividends : $ + +Largest dividends came from RYLD $11.33, +2nd largest came from JEPI $11.21 + +- - - - + +Robinhood +Total value : ~$14K +April dividends : $15.09 + +Largest dividends came from NUSI $10.51, +2nd largest from SDIV $2.46 + +- - - - + +Wife’s Roth IRA +Total value : ~$17K +April dividends : $29.24 + +Largest dividends came from SPHD $11.20. Now she has 88.829 shares. +2nd largest from QYLD $8.03. She has 55.18 shares. Plan to encourage her to get 100 shares each of SPHD and QYLD. + +- - - - + +Read on another thread, that some of you hate this kind of post about announcing “I received $x.xx in dividends”, but I wanted to share my progress, provide some motivation, and give ideas for some. + +In May my goal is to finally hit 100 shares of NUSI and 75 shares of O. + +Also a new goal is to load up on BST (BlackRock Science and Technology Trust), PSF (High Income Securities Fund), PSEC (Prospect Capital) and PAA (Plains All American Pipeline). + +BST, PSF, and PSEC are all monthly dividend payers, so the dividends will compound faster over time! +This method of handling your personal finance may sound incredibly simple to some, but for me it was life-changing. I wish I had thought of it years ago. For reference I’m single, no kids...so this isn’t for family budgeting. Here it is: + +-You just need a savings and a checking account. + +-Make sure you have $4,000 in your checking account. That should be enough to cover your monthly expenses with some solid padding. If it’s not enough, adjust that number, but for sake of explanation I’ll keep it at $4,000. + +-$4,000 is the key number. This all revolves around $4,000 (or whatever that number is for you). + +-The goal is to keep your checking account at $4,000 no matter what. + +-so every time you get paid (For me, every other Thursday), you should have more than $4,000 in your checking. wake up on pay day and Immediately do the following: Pay off your credit cards. IN FULL. If you’re still above $4,000, use it to Pay off any debt you owe. If you still have More than $4k, send the remaining amount to your savings account. Now you should be at $4k in your checking. + +-if, after getting your paycheck, you don’t have enough to pay off your credit card and stay at or above $4k, you need to Spend less money every month...I know that’s easier said than done. + +-Of course, if you’re having a tough month or you recently lost your job, fine you’ll slip into the $3k or $2k, but the nice thing about this menthod is that you have a real understanding of how much money you actually have...Instead of just piling on credit card debt. + +Prior to this method I always felt like I didn’t have a real sense of how much money I had. I always just kept everything in my checking account, but I didn’t really know how much I’d have after paying off my credit card, and therefore I never put anything into savings. + +Anyway, that’s my two cents. Hope it helps. + +EDIT: u/Aghanims pointed out that I did not address savings/retirement goals. I should note that I have an automatic monthly deduction from my checking into a ROTH IRA. If saving for retirement is your goal, transfer any remaining amount over $4k into your retirement (after you've paid off your credit card and any other debt you have). +"Holy moley, what a game[stop]" [(Gould, 1892)](https://archive.org/details/bub_gb_oDgPAAAAQAAJ/page/n219/mode/2up) + +HOLY MOLY HOLY MOLY HOLY MOLY HOLY MOLY HOLY MOLY HOLY MOLY HOLY MOLY HOLY MOLY HOLY MOLY HOLY MOLY HOLY MOLY HOLY MOLY HOLY MOLY HOLY MOLY HOLY MOLY HOLY MOLY HOLY MOLY HOLY MOLY +How can I put this🤔 + +Facebook is like a really invasive stalker or ex who plants bugs and uses tech to know your every move, you don't like it but every time they get into trouble there you are with your check book bailing them out of jail. + +That's what META is, they are that invasive stalker who scoops up and sells your information but you keep giving them access to your lives....WHY? + +How anyone can believe a company with Facebook's track record of data mining wouldn't track EVERYTHING YOU DO IN THE METAVERSE? How can you have any faith in the "meta coin" when Zuckerberg has done nothing but worsen the human condition? The man literally just said meta will be tracking your facial expressions while using meta "to better serve you" ok I'm sure. For god sake I just don't get it +So the time is here.. Attorney General National Security Division has served the Bitconnect shillers and court date is right around the corner.. Wonder how this will go? + +[Trevon James Court Date!](https://www.youtube.com/watch?v=A2ewFbRbi4Y&t=788s) + +[Craig Grant Court Date!](https://www.youtube.com/watch?v=QV0xd-7-Yjk&t=38s) + +WHATTTAMMIGUNNAHHDOOOOOO! + +I got a better job that is just barely going to allow me to buy a tiny home. But the financial expectations in looking "polite" are ridiculous. + +There is a gift giving exchange at work. To not look rude, I must participate. Cost: $25 + +Employee holding a holiday potluck with gift exchange. Expected to bring someone and food. Cost: $65 + +I stalled on getting desserts for my department. Finally did, at a cookie place they recommended: $25. + +In-laws know of better job. The mooch of the group expects gifts for her and her kids, makes requests. We are forced to spend $100. We got a $15 gift card. She has received $50k+ in the past few years in early inheritances, with $100-$200k more coming at time of death. I got $0 when my family died. + +I'm tired of being expected to spend so much to be "polite." I can't stop the work costs, but I'm going to just have to stop with the family. + +You can keep your costs down as much as you want. But if you don't gift out of "politeness," you can have bias held against you as not being "a team player." I did at my old job, and they tried to push me out for not being "middle class spendy" like them. I'm still playing catch-up after years of being behind in retirement, etc. I can't do this anymore. + +I hated the holidays in poverty, and I still hate them now. +Now granted, I will readily admit that while I think learning Excel is a great start, when it comes to changing careers having connections you can use as referrals is *the* most useful help. But that being said, I am constantly amazed how many people (a) work with Excel but don't know how to use it and (b) how many positions exist out there looking for someone who can comfortably use Excel. + +While more and more technologies seem to come along to try and replicate what Excel is doing, it seems like Excel is still *the* go to software for data analysis for businesses. Being comfortable with Excel and knowing how to take large quantities of data and turn it into meaningful tables/visuals seems to be a skill that businesses are looking for in so many roles. + +The best part is, there are so many resources for learning Excel for free online. Apart from the ability to look up specific skills there are websites that will even provide structured courses and data files to accompany them--it's awesome. ([Leila Gharani](https://www.youtube.com/channel/UCJtUOos_MwJa_Ewii-R3cJA) is my personal favorite for specific skills and there's even [a ton of reddit topics](https://www.reddit.com/r/excel/comments/2qzea6/what_is_the_best_way_to_learn_excel_online/) already about trying to find good Excel sources.) + +And while it might seem daunting to apply for a new job in a new field, if you can provide actual evidence of your abilities to do cool things in Excel, that can go a LONG way to helping make your point. + +If anyone has any questions about data analysis or using Excel, I really would be happy to help! I just got done reading the post on the front page entrepreneurs motivational speeches and it just made me so angry because it's annoying when people just say things like *"You just gotta grind more"* without actually providing useful suggestions. So, this is my useful suggestion: learn Excel, make some cool projects that show what you can do, and use that to leverage yourself into a new career if you'd like! +**What am I doing?** + +I do technical analysis and selling cash-secured-puts 3 to 5 weeks out on stocks that are nearing key levels of support. My goal is to collect premium, but should I get assigned I have absolutely zero problem running the wheel on stocks I want to own. + +I watch over 200 stocks, I would say its 90% waiting game and 10% true technical analysis. My levels work, but it's normally because I am patiently waiting for an entry point. Yes that's a lot of tickers to watch, but I research my stocks on weekends and then monitor additional plays & levels during the weekday to see if there is an obvious setup I want to participate in. + +**Here's a few things regarding my strategy** + +**1.** I don't over-leverage with selling multiple spreads because if the stock price blows past your long strike and you assume max loss you need a lot of capital to actually be assigned the shares. For that reason I don't really see selling multiple spreads as a "Theta Gang" play and is still very high risk. If I do open a spread it will be a protective put for $1-5 just to protect myself should the company randomly announce bankruptcy. + +**2.** I only sell cash-secured puts with the capability to be assigned if need be. My goal is to never take a loss on a position and always wheel it back to profitability. If something has changed fundamentally with the stock then yes I will close the position and realize the loss. + +**3.** If IV on a ticker is very low, then yes I will outright buy shares instead. + +**4.** I only aim for 1-4% per week collecting on theta and an occasional earnings theta yolo. No call-buying, no spreads (unless buying a covered put), only put-selling and shares! + +Honestly, that's about it. I'll go through some tickers on my watchlist this weekend and what I currently have open. + +# Open Positions From Last Week + +I still have a few positions open from last week that I opened on the red days. These include: PLTR, CRSR, DKNG, FEYE, PTON, U. Still holding and will add some of these new positions this week. + +# Chart Rules + +**Pink Lines** = Trading range & channel. I find stocks typically trade within certain channels until an event, such as earnings or some news which changes the fundamentals of the stock price changes the trend and a new channel is formed. + +**Blue Lines** = Key areas of support/resistance. I don't like focusing on supp/res levels every $2 down like some people do. I look at the bigger picture and find where where key levels of buyers come in to grab the stock. I'll try to sell puts there. + +# Master Plays This Week + +I just want to preface this by saying these are not recommendations to buy or sell any stocks. These are stocks that have come through my scanner and met a few criteria for me to sell puts to collect premium. I won't execute on every trade, but if the timing is right I will enter these, that's why they are on my "watchlist". My intention here is to sell the put, collect the premium, or get assigned the shares. If I am assigned the shares, I sell covered-calls trying to lower my cost basis and remain profitable on the play. + +&#x200B; + +**NET ($86)** + +https://preview.redd.it/eqkzv14goih61.png?width=1706&format=png&auto=webp&s=e2b8e638955f6c158ebb342f9866644f96bef786 + +Net posted earnings last week and took a tumble. It's sitting right at a level of support at the $85 level. If downside continues I wouldn't be surprised if it breaks through the lower trend channel into the $78 level. In my opinion Cloudflare will continue it's up-trend so I would be ok with owning after a temporary dip. Selling $85 strike puts 4 weeks out will yield enough return to give break-even point at $80 per share. Theoretically I am locking in buying NET for $80 a share if I do that. + +**Positions on the watchlist** + +March 12, 2021 $85 strike put sold to open for $5.75 or $575 premium. + +Return: 7.5%, break-even share price: $80 + +&#x200B; + +**PLTR ($32)** + +https://preview.redd.it/jez9w6ggoih61.png?width=1698&format=png&auto=webp&s=aae0b06121ebb871627573a8d6d365a9243d9dec + +Palantir has earnings coming up Tuesday. It got rejected by the same resistance 2 times in the $38-40 area. Now it's back down to $32 after a 20% drop. IV super high and won't be able to get in before earnings, I did happen to sell some Friday though. If PLTR drops on earnings I will be looking to sell more cash-secured-puts and capitalize on what remains of the implied volatility. + +**Positions on the watchlist** + +I won't list positions here yet because this will be moving crazy at the open on Tuesday. + +&#x200B; + +**FSLY ($102)** + +https://preview.redd.it/t5m2sk0hoih61.png?width=1708&format=png&auto=webp&s=952571cbe7a35958481af134aa5c4db38bda14e8 + +FSLY has been super volatile throughout the last 6 months. Look at the wide range it's been trading in with nearly 30% monthly swings. Similar to NET it's been in an over-all uptrend as the sector remains strong. FSLY gapped down last week back to $100 level and near the lower trend channel. In my opinion this is another play where I like the risk vs reward that I am entering the trade. I'll feel comfortable selling exactly at the pink line which will be around the $100 level strike. + +**Positions on the watchlist** + +12 March, 2021 $100 strike puts for $9.75 or $975 premium. + +Return: 10%, break-even share price: $90. >> Stock price needs to drop below $90 to LOSE money on this trade. + +&#x200B; + +**ARCT ($74)** + +https://preview.redd.it/o3o6xlhhoih61.png?width=1702&format=png&auto=webp&s=d4f07a4b275a28961e2aa3d6d10be76b8c007ac7 + +ARCT hit me hard 2 months ago. I entered the play the afternoon before it dropped 50% on news of their testing results. I was able to recover 95% of my losses before exiting the position at close to neutral about 3 weeks later. Here we go again. When I look at the chart I want to sell closer to the blue line, but we may not get there. IV is super high, so even selling $68 strike put, nearly 10% OTM, will still give us good premiums. + +**Positions on the watchlist** + +19 March, 2021 $70 strike put sold to open for $8 or $800 premium. + +Return: 11.5%, break-even share price: $62 << shares need to stay above this to remain profitable. +If we are headed for a recession (longer or worse than is currently predicted and priced in already) which markets/industries/countries are best for our investments? + +Yes we know not to try and time the market and if we knew then we'd all be rich and this is not financial advice etc. Etc. +Hi! As the title says. I currently have a small 6 digit etf portfolio in deutche bank (max blue). I would like to bump that up to 2M eur and transfer it to a proper broker. I was looking at Interactive brokers but i’m a bit worried about insurance. None of the brokers actually offer more than 20-100k eur insurance. + +Anyone here with a 7 digit portfolio can help out? + +Thanks +It frustrates me when grown adults have a very limited understanding of economics, for example I had to try and explain why a universal price cap (ceiling) would be a very bad idea to my mother. I also came across an individual at a camping event who believed that printing excessive amounts of money would be helpful (he believed this year on year, before the financial crises). + +I find that it allows politicians to pull the wool over peoples eyes or make it immensely difficult for them to bring out the necessary policies. + +Edit 1: Just to note that I'm all for quantitative easing where appropriate, i'm referring to the Zimbabwean school of economics. +My nephew (on my wife’s side, if it matters) goes to one of the most expensive state universities in the US. His tuition is mostly paid on a ton of loans and grants (pretty good HS student). We found out that he has almost zero help from his mom/dad. Can eat only once a day, no fridge or microwave, no insurance (dad dropped him), totally broke, and left alone. He does work a minimum wage job at 8 hours/week, but that only pulls in $100/week. + +My wife is asking me to start supporting him a bit more. Curious how others have handled something like this. Maybe double/triple his paycheck every week? I also do not want to be the family’s ATM, but it’s hard to say no to something like this... +I have been working at a decent job for the past 5 years, and I have been frugal all my life. Most of my money was sitting in a bank Savings Account, with some in Post Office FDs. + +My job kept me busy enough that I didn't focus on any money management, and was just saving up the extra money in the bank account.. I was of the mindset that I will be 'settled' if I just save enough money... After all, as kids, we have been told to save money by keeping it in a locker or piggy bank. Little did I know that inflation has been eating away at my money's value. Despite saving a considerate amount, the money became worth less by keeping it in a bank account. + +My friends and I would occasionally talk about getting into stock market investing, but we never took it seriously enough to learn it. But, when the work-from-home started, I had enough spare time to find a new hobby. And I started learning about investing. I'm still a newbie, but now I feel different than how I felt at the beginning of the year. Learning about investing made me realise that saving money isn't enough. We have to invest it. + +Before, the stock market was a mythical part of the world where people would lose lakhs of money overnight & go bankrupt. But, once a person understand the (long term) investment mentality of the stock market, it can change their world. And that's what it felt like, for me. In simple terms, the stock market is a place where we can buy a piece of a company. Plain and simple. If we think that a company will grow in the future, we can buy their stocks and hold onto them. If we think that the Indian economy as a whole will flourish, we can buy the broad market indices. + +Learning about the stock market made me think differently about spending and expenses. It removes the itch to spend money occasionally on unwanted things, because, that money would be better served if it's put in an index fund or a bluechip stock. The habit of investing gives me an excuse to save more money & cut down on expenditures. Without investing, we'd be tempted to spend money on depreciating assets & impulse purchases just because we have enough money saved in the bank account. Now that I know about investing, I feel like I NEED to cut down on unwanted expenses so that I can buy stocks with the extra money. + +*"Feeling like binging on pizzas or go out to have lavish meals every week ? I'd rather avoid it and buy Britannia stock with that money.. Feeling like buying new clothes, for no reason ? Nah I'd rather wear my existing clothes and put the money in the Nifty index"* .. Knowing that I can buy my favourite company's stocks (which would grow & appreciate in value) has created a good mental barrier that is helpful in filtering out all the unwanted expenses. Since I have been living at home for these past few months, I had no expenses. And I have been investing in a Nifty index fund. and I feel the urge to invest more & more. Even if we go back to 'normal', I want to live in a minimalistic way and invest 70%-80% of my monthly income. I feel like I'm addicted to buying the stocks of great companies and seeing them grow in the future. I don't have the interest (or the expertise) to day trade, so I'm hoping to buy more & more stocks that I want to hold *forever*. + +Do you have a healthy addiction for investing ? Has investing changed your life ? :) +Me and my husband are both EU citizens. We moved to Canada a few years ago, but are thinking of moving again. We are considering a move to an EU country. + +We are both I.T professionals, and are hoping it wouldn't be too difficult to find a job in this industry. We earn good income in Toronto, but are considering moving due to a few reasons (high income earners are heavily taxed, winters are brutal, only 15 yearly vacation days, buying property is expensive, Canadian dollar value is weak). + +Where would you suggest moving to for the best quality of life and financial stability? We have considered The Netherlands and Portugal - but are open to moving to any country. + +(We are English-speaking, any country you would suggest avoiding due to language barriers having an impact on quality of life?) +Hello, + +I have been trading for a little over a year now. After I was consistently able to make $1,000/week, I quit my job and since then have made $150,000 after taking out my original capital. + +The only issue is that my friends and my wife’s friends ask me about my job when we chat, and I still tell them I am a recruiter. How do I tell ppl I trade financial derivatives without sounding like an asshole? + +I mentioned that I do this in the side before, but I don’t want to reveal how much I made, which may come up if I tell them I do this full time. +Welcome to the Daily General Discussion thread of /r/EthTrader. + +Find the latest Daily Altcoin Discussion thread by selecting the top result on this [search page](https://www.reddit.com/r/ethtrader/search?q=Daily+Altcoin+Discussion&include_over_18=on&restrict_sr=on&t=all&sort=new). + +*** + +The thread guidelines are as follows: + +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All sub rules apply here so please review our **[rules page](https://www.reddit.com/r/ethtrader/about/rules/)** to become familiar with them. The rules page is also linked in the announcement bar above. +- If the top page becomes overloaded with memes, all but the top two voted may be removed. If we need to remove a bunch of memes from the top page, post memes in this thread first and upvote the best so the mods know which ones to keep + +*** + + Resources and other information: + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! + +I have seen this title all over the internet. And i didn't believe it at first due to the mixed reviews. However i can now confirm they WILL try and scam you at all costs. + + +I had a high leverage position open on the nasdaq100 and when the market volatility went up and i start losing a little money i tried to close it. ETORO DIDN'T LET ME. After 30 minutes of not being able to close my position it hit it's SL (Stop loss), which means i lose 50% of my position. All because i couldn't close at a small loss of 1 or 2 percent. + + +I made a ticket and showed valid evidence of my position not closing and what was their response? IT HIT THE STOP LOSS. Their excuse for this was that it validly hit the stop loss. + + +They will eventually get shut down for these "website breaking" scams and lots will lose money when the company gets shut down. + + +AVOID AT ALL COSTS. + + +If anyone has any questions please comment. + +Thanks. +Hey gang, ex poker player here. Made quite some coin playing poker that I reinvested into successful businesses after the poker boom fell out of favor. The rest of my money, I promptly YOLOed into the market (well before the days of WSB) because I wanted to retire early and figured I would hit my lotto ticket or keep working. Learned the hard lessons, stayed focused on business and slowly built up trading (not gambling) experience. + +So why on Earth would you listen to me? Precisely because I've been a dumbass in all my dealings (poker, business, stocks) but have stuck each one through long enough to learn from my silly mistakes. I feel that Thetagang has given me much more tools in the quiver and want to pay it forward by helping those with... ahem, degenerate tendencies, and even those without, to understand some proper risk management. So on with the show. + +**Rule #1: Always Assume the Worst Case CAN Happen** + +Lady luck loves nothing better to take her big dick and deflower your naive optimism at every opportunity. Have a bet that you think is a sure thing? Great, can you "define" what a sure thing is in numbers? Cause if you can't, it's undefined risk and that means you have no idea what you are dealing with. Selling naked call / put options is an undefined risk (unlimited loss). Selling vertical / calendars is a DEFINED risk (you know what you can lose/gain). + +I know what you're saying, "Hey granto, XYZ will *NEVER* hit that strike or ABC could never go bankrupt, it's impossible!". And of course, I'll say, it's impossible like the chance of a country defaulting on their bonds right? Like Russia in 90s which blew apart LTCM, one of the fastest rising stars in the hedge fund world with the smartest dudes around? + +See the thing is, once you start thinking "It can't happen" or "The chance is so small.." then that's when you're fucked because you're replacing analysis with hope (or worse, ego). See the thing is, 99% isn't impossible. And 90% sure as HELL isn't impossible. And if you can't understand how your trade can go sideways, you are not the smart shark that you think you are. You are the fish. That's why any veteran trader (and I hardly call myself one) rolls their eyes at someone saying they make 1% a week selling FDs. + + +**Rule #2: Size Your Bets Accordingly (SEE Rule #1)** + +If you think you've got a 60% winning bet, do you go all-in? Fuck no. 80%? Nope. 90%? Still no! + +This is where Kelly's criterion comes in ([good Reddit thread here](https://www.reddit.com/r/options/comments/mn14jc/kellys_criterion_for_gamblers_one_of_the_most/). In a nutshell, even when you are at a high probability of success, if you make that same bet multiple times with a outsized portion of your assets, you will go broke due to the law of large numbers. + +Example: You sell 1 standard deviation SPY call options (approx 30 delta) which assumes your contact expires worthless 68% of the time. Well since you're smarto pants here, you realize 68% isn't *THAT* safe, but two standard deviations (~95% win rate) would be very safe. So you sell 7 delta calls each week jacked to the tits. You're playing it safe, right? + +Well, math comes out that your 95% trade over 13 trades (0.95^13) comes out to a 51% trade. That means if you max your bets for a mere 3 months, you're a coin flip chance of having an assignment. This is why they call it "picking up pennies before a bulldozer" and why everyone says *"It works, until it doesn't"*. + +So how much should you bet? Most people say never more than 5-10% of your portfolio on any one position; and I mean that any one position should only have risk exposure of said 5-10%. If you short GME/AMC/MEME using 10% of your margin, then god bless and pray to not meet your maker because your risk is once again, undefined (unlimited). The reason the 5-10% exists is because you need to assume that your position can/will move against you AGAINST ALL ODDS and you need to limit your damage and exposure. + +There are MANY, MANY smart players out there that have gone bust simply because of poor bankroll management. Once you're wiped out, you're gone. No more bets, no more opportunities. Even a 50% loss sets you back YEARS. When the game is based around compounding numbers, any significant portfolio losses is incredibly damaging to your ability to play the game. + + +**Rule #3: Set Loss Boundaries and Know When To Exit** + +This is really important. Unlike the top two, which are based on hedging against the unknown, Rule #3 is hedging against your dumb ass self. Why? Because every gambler has that moment when he says: *"Fuck this, I'm doubling down!"* + +That's a GREAT sign? Why? Because it's your own personal stop loss indicator, so that you know you are no longer able to trade rationally. Once you're angry, bitter or trying to win back a loss, now you're in gambling territory my friend. Emotions are high, you want to prove to yourself, Mr. Market, your wife who rolls her eyes that "No no no, I am toooootally right!". Sure thing bud, but let's cool off first and exit your trade and put down your phone before someone gets hurt". + +Creating pre-defined exit boundaries are a requirement because it takes the decision making process out of the equation when you are least capable of making a decision. Otherwise, when your short on AMC is going to the moon and your face is melting off, you're not screaming at the invisible buy-side action telling them how right you are and that you'll hold until your account implodes. + +Closing gains from 50-80% seems pretty common here. Selling insurance means that losses can quickly escalate far beyond your basis so it's important to put in your stops before it gets away. Where is your own risk tolerance, but mine is is variable depending on the volatility and delta, but as a general rule, if you set your losses to match your gains or even at double, you've at least defined an exit point. + +The all too common theme at a poker table is the solid player who loses a big hand that he should have won, then proceeds to go on tilt and proceeds to take a single loss into a whirlwind of loses trying to make ever riskier plays. So of course our next rule is... + + +**Rule #4: Don't Risk What You Can't Afford** + +I know I'm going to get hell for this, but trading on margin (without well defined risk params) is an invitation for the reaper. Again, if you don't understand how your trade can go south, trading on margin is NOT FOR YOU. If you're hedged with delta all which ways with tight stops, then play big league ball all you want. If your thesis is that SPX goes up 7% per year annualized, margin interest is 4% and your bright play is piling into nothing but high beta SPX plays because you think a 3% arb somehow equates to risk free long term gains... then please god re-read rule #2. + +I'm sure I'm clear on this already, but if you don't understand or have conviction in the bet you are making, then don't make the bet or make it manageable (small). Most disciplined investors either throw an allocation into a "safe" asset such as an indexed ETF or mutual fund, then put the rest aside for gambling and fun times. That way, if you get caught in the worse way, you're not panicking or on a bender trying to recover. There were dudes in here yelling the end was nigh with a 3% correction a few months ago and if they rode the major crashes like '08, I can't even imagine how jacked they would be. If you're going to gamble, do it responsibly. + +When I was young, the worst thing that happened was getting a fuck ton of margin, having a big ego and making a rash of successful plays early. Idiots success is a hell of a drug. A margin call is a hell of a morning wake up. **LUCKILY** even my dumbass was smart enough to stash away a pile of money to protect it from myself. Which leads me to... + + +**Rule #5: You're Not That Smart, So Don't Bet 100% On Yourself** + +The rule we all hate. I hate it with a passion. I *really* enjoy being smart. I'm great at a lot of things. I am not, however, smarter than the market. But, after much hard lessons, I do have enough self reflection to realize that I enjoy options exactly because of it's gambling like nature. And if I keep telling myself that my bets are because I am smart, I may eventually begin to delude myself into thinking so and not question my dumb ass decisions. + +Let's face it, we all know (or SHOULD KNOW) that the majority of hedge funds don't beat the market. Holding index funds will beat just about any other strategy time and time again. Yet why do we do this? Because it's fun... and because we all think just *mayyybe* we'll continue to beat the market, because maybe you currently do or think you can. + +So don't get ahead of yourself. You're not the next Buffet. A YOLO play with 2000% returns does not make you a smart investor. Getting away with selling insurance in a bull market doesn't make you an smart investor. It doesn't make you stupid either. But over 20 years, let's see how you do. And if you're a billionaire, fucking kudos to you and your big dick. To everyone else, stay humble, donate to your local ETF. + + +**Rule #6: Don't Force Opportunities, Be Patient for High Probability Scenarios** + +I've often sat down at a game and realized that it's just not a good game for whatever reason (slow pace, grumpy players, bad cards, etc). The wrong thing is to sit down and try to grind out when there's nothing to be gained. This is where the Bogle / Buffet type investors have it right, because they just jam their meat into SPY and let it slow cook for a few decades while they enjoy the sunlight, outdoors and get shit done. + +Thetagang is thetagang for a reason... it's great to just sit and let your thesis play out and hopefully take your winnings. But sometimes I've invested a lot of time into my current plays and just don't have a good one out there that I have conviction of. So I won't force it or concentrate my bet. I *always* know it's time to chill out when I think "Hmm... this is going slow, maybe I'll just sell a few more CSPs on the same ticker on another date/strike". Because when I do, that violates Rule #2 for bet sizing. + +Each player/trader has their own set of signals they they go by. If I'm not getting most of my signals, then I'm just not going to play, because otherwise I'm gambling. It's like shorting/buying AMC. Do I have long term thesis that I'm willing to stick to? Or am I just hoping to run in and scalp? If I believe it will collapse, then I'm at least going to look for a number of entry point indicators to go in vs just willy nilly jumping in. + + +**Rule #7: Never Forget You Are Trading Against a Headwind aka The House Always Wins** + +This isn't exactly risk, but don't ever forget this rule, especially since we're all trading options here. The bid/ask spreads will murder you if you are going in and out of them frequently. Many spreads hover around 10%. The terrible ones are over 20%. Plus you've got your brokerage commissions on top. If you're round tripping 200 options on a vertical call with a 10% spread, that's 20% + $260 (@ 0.65 per trade). That is a HUGE headwind. Now obviously as thetagang, the hope here is the value decreases so that you're closing the call at a much lower value so the spread at close is a much smaller % vs your basis. + +That said, being a monkey trader that is maxing out margin, being forced to close trades when you don't want to, or playing too many highly volatile stocks that stop you out of a trade before your desired point is a big win for the house. Say your monkey thesis is that ZIM is going on a bull run, you sell a put, only to have it turn against you the next week, you're now in a difficult position of accepting your thesis is wrong and closing out, waiting it out until you hit your safety eject number, or stubbornly hold until the cows and margin call comes home. + + +**Rule #8: Be Aware That You Have Blind Spots** + +I should probably call this "Beware of Black Swans" or improbable events that are outside of what you think is probable. This concept was made famous by Nassim Taleb, an options trader who made hundreds of millions by "exploiting" the Black-Scholes options pricing model, which Taleb claims does not price options correctly (too cheap on the edges, too expensive near the money, due to the gaussian curve not representing risk properly... but I am not a mathematician, so please don't skewer me for my ad hoc summary). In English, this is rule #1 on steroids - it's not just the worst situation YOU can think of, but what's the worst case situation you CANNOT EVEN BEGIN TO THINK OF? + +Many people think this is like a futile exercise because how can you hedge against say, an asteroid or nuke from North Korea that falls into "acts of god" realms of probability. But as we saw with BTC, China is moving against BTC in a major way and miners are moving to the US. Will the US ban Bitcoin? Obviously, **I don't know** but the probability *exists*. How you trade that is beyond my pay grade. But, if you aren't even cognizant to the fact that *BTC could be banned* then you are trading with a blind spot. + +So, this goes closely with Rule #5. You're just not that smart or reflective enough to see your own shortcomings. + +.. Anyhow, my dumbass thought this would be a pay it forward for those who may be on the path to making the same mistakes I once did. Thank you to everyone here that contributes and continues to have patience. I am still learning and appreciate you all. + +TLDR: Risk is overrated. Concentration makes you rich. Losers exit out a trade early. Your gut knows what is right. Markets always go up. Markets price in everything perfectly. You're the fucking champ with 20/20. +So I have two applicants for one of the units in a two unit townhouse. Assume all paper work and due diligence is in order and the decisions is largely ethical: + +Option A) a young couple who have gig-type jobs, one including probably housing several dogs in the back yard. Or + +Option B) Three Ecuadorian brothers and their two girlfriends. No kids, no pets. The brothers work for a company I recently hired for renovations. The manager of that company acted as translator and advocate for me to accept them - as it would mean less carpooling at the company’s expense. The main problem is that I don’t speak Spanish well, and that 5 people in a 3 bedroom 2 bath apartment seems a bit tight. + +Any input or experience to share to help me make a decision?? + +Ps. I recently went through a lengthy eviction for said unit, and I am rather eager to fill it May 1st to recoup expenses. +So I made a data visualisation dashboard so that people can interact with it and explore it. I made the dataset based on the news articles I have seen and recorded them and filled in the dataset where necessary. This includes company name, company country, investment state, category and the amount. + +The dataset requires further exploring, such as you can explore "state investments" category as it contains investments that are not mentioned in other articles. These includes how much a state has attracted in investments. Such as Uttar Pradesh attracting 1.88 trillion rupees in the last 3.5 years. + +The dataset is linked to the Google Sheets. So it will be updated automatically after I add a new record. Feel free to notify me of any investments you might find. I will add it if appropriate. Special thanks to [u/itisverynice](https://www.reddit.com/u/itisverynice/) for notifying me of investments. + +Note: A lot of the news articles don't list how much a company is investing in the dataset. Especially for military investments for obvious reasons. If you want, you can check the source and notify me if you know how much that company is investing. The source to the dataset is in the dashboard. + +Link to the dashboard. It has investments from 2020 start til present: [https://public.tableau.com/app/profile/plebman1125/viz/IndianInvestmentsDashboard\_16220829360130/Dashboard](https://public.tableau.com/app/profile/plebman1125/viz/IndianInvestmentsDashboard_16220829360130/Dashboard) + +Feedback is welcome! +***0. Preface*** + +**TLDR:** This DD is a closer look at Shitadel's overall financial situation, based on several factors: their credit rating, most recent financial statement, and debt/borrowing status. My conjecture is that the publicly available information is intended to hoodwink the general population, regulatory bodies, potential lenders and those on the 'long' side of their bad bets, into believing that they are still in a strong position. However, I believe it does not take a huge amount of basic investigating to uncover evidence that their situation is actually (somehow) *even worse* than we typically believe it to be on this sub. + +&#x200B; + +***1. Does $4.2 billion in revenue really mean anything?*** + +The other day I made a shitpost regarding Shitadel's credit rating, which included this graphic illustration of where they fall in Moody's ratings scale: + +https://preview.redd.it/zjlq3sjwp9j91.png?width=500&format=png&auto=webp&s=ff7c6a8b246e4f018e14ccbb1accfbbebf229264 + +The inspiration for posting that was this Bloomberg news article that came out last Tuesday 16th: + +[https://www.bloomberg.com/news/articles/2022-08-15/citadel-securities-first-half-trading-revenue-hits-4-2-billion](https://www.bloomberg.com/news/articles/2022-08-15/citadel-securities-first-half-trading-revenue-hits-4-2-billion) + +https://preview.redd.it/q6caen4vaaj91.png?width=1768&format=png&auto=webp&s=a3dbd258cb71d5daf821ca9e62428d2fb993cb75 + +As this article defaults to being behind a paywall, here are the first three paragraphs: + +*Ken Griffin’s Citadel Securities raked in a record $4.2 billion in first-half net trading revenue, capitalizing on this year’s surge in market volatility and stepping up its competition with the biggest banks. Revenue soared about 23% from last year’s first half, according to people with knowledge of the situation. Citadel Securities has posted 10 consecutive quarters of net trading revenue in excess of $1 billion, with eight of those surpassing $1.5 billion, the people said, asking not to be identified disclosing private information.* + +*Volatility spurred by interest-rate hikes, surging inflation, recession fears and Russia’s invasion of Ukraine has benefited trading operations across Wall Street. The biggest US banks pulled in $29 billion in trading revenue during the second quarter, a 21% increase over the prior year. Leading the pack was JPMorgan Chase & Co., which reported a $7.8 billion haul from the business.* + +*Citadel’s figures are being disclosed to investors as part of a $400 million incremental loan the closely held firm is seeking, which will be used to build trading capital and for general corporate purposes.* + +The interesting things to note are the following: + +• The news is exclusively about Citadel Securities LLC, the Market Making entity of Shitadel + +• There is no mention of the financial situation of Shitadel's Hedge Fund entity Citadel Advisors LLC, which is holding the bags of GME shorts + +• Although Citadel Securities' revenues increased, it was in keeping with increases for Wall Street brokerage firms across the board during the first half of 2022 + +• Importantly, note that the financial performance reported is purely regarding revenue, and there are no mentions whatsoever of profitability + +• Hence although it may sound impressive that Citadel Securities' revenues increased by 23%, that may well have been a loss making performance nonetheless + +• Finally, note the last sentence - this information is being shared on the back of Citadel Securities seeking a $400 million loan, hence needing to publicise some information on their financial performances + +• As Citadel Securities is a private entity, they do not usually otherwise publicise a huge amount of information, thus it gives some clues as to how they are performing, which can otherwise be difficult to obtain + +So you may be asking yourself: would a company that is performing exceptionally well need to be borrowing any money at all? Well, the answer is usually "yes", because most companies utilise lines of credit to make short term payments needed for their normal operations. However this loan that Citadel Securities was an **incremental loan**, the definition of which is as follows: + +[https://law.en-academic.com/8600/incremental\_loan](https://law.en-academic.com/8600/incremental_loan) + +*Incremental Loans, also known as an accordion feature.* + +*A feature of some loan agreements that allows the borrower to add a new term loan tranche or increase the revolving credit loan commitments under an existing loan facility up to a specified amount under certain terms and conditions. The advantage of this feature is that the increase in the loan amount is pre-approved by the lenders so that the borrower does not have to get the lenders' consent if it increases the loan facility at a later date.* + +This indicates that Citadel Securities is seeking additional loans, on top of existing loans they already had in place. As anyone who has been in some kind of financial trouble would know, you would only be looking for more loans if the existing ones you had have already been exhausted. So it certainly points towards this entity within the Shitadel group, which ought to be its stronger component compared to the struggling Hedge Fund, also having significant problems with cash flow at the moment... + +&#x200B; + +***2. An expensive new loan*** + +Just a couple of days after this Financial Times article came out, we then heard that Citadel Securities had indeed secured the extra borrowing they had been seeking: + +[https://www.ft.com/content/f3206b39-0cd9-4956-8a87-f5b2f85025ea](https://www.ft.com/content/f3206b39-0cd9-4956-8a87-f5b2f85025ea) + +https://preview.redd.it/nb0362ppy9j91.png?width=1590&format=png&auto=webp&s=41df2067a564eac59e7c40f6afb476ece953795d + +Some choice excerpts from within this article are: + +*Citadel Securities borrowed $600mn on Thursday to bolster its balance sheet and trading business, capitalising on strong demand from lenders after volatile markets helped one of the biggest US equity trading houses make a banner start to 2022.* + +*The company told lenders, which include credit funds, that it planned to use the $600mn in part for additional trading capital. Citadel has sought to expand into new markets outside of the US and build its business with institutional traders in fixed income.* + +*The loan matures in February 2028 and was issued with an interest rate 3 percentage points above Sofr, the new floating interest rate that has been widely adopted to replace Libor. The large appetite to lend to Citadel allowed the Goldman Sachs bankers marketing the deal to tighten the terms — it had initially offered the loan with an interest rate a quarter-point higher — and increase its size by $200mn.* + +So what we can take away from this second news about Shitadel last week includes the following: + +• Citadel Securities managed to get the loan they were hoping for - in fact, 50% more even than they were originally seeking + +• They have used the reason of "business expansion" for asking for these loans + +• The price for this, as secured by their investment banker Goldman Sachs, is an interest rate 3% higher than the standard Sofr rate that financial institutions use for borrowing + +• The current Sofr rate according to the Fed ([https://www.newyorkfed.org/markets/reference-rates/sofr](https://www.newyorkfed.org/markets/reference-rates/sofr)) is 2.29%, meaning Citadel Securities has agreed to borrow this $600 million at a whopping 5.29% rate - 2.31 times the going rate! + +Again, as anyone who has faced financial difficulties would know, it is hard to get extra loans to the ones you already have if you have poor credit. Typically lenders would either be too wary to give extra cash, or they would ask you to pay well above the normal interest rate, to take on the risk of lending you more money. With Citadel Securities LLC being asked to pay **more than double** the normal rate - I think we can surmise that these lenders have pushed them to borrow at a very high rate due to a perception that this is a borrower with high risk. + +The fact that they have given a likely BS reason - further business expansion - for asking for more money is also telling for me. Again, anyone who has struggled for cash flow would know that explaining "I need to borrow money because I don't have money" is likely to get shut down very quickly by a bank. Hence another more palatable reason needs to be given, and I think that is what has happened here. However these unknown lenders weren't born yesterday and probably said something like: "OK, we'll lend you the money for this 'business expansion'...but we'll charge you well over double what we would for someone we think is in a more financially healthy condition." + +&#x200B; + +***3. What happened to the Sequoia & Paradigm money?*** + +Now let's have a look at one more tidbit of information the article also shares, about the bigger borrowing picture for Citadel Securities + +*The company earlier this year was valued at $22bn when Griffin sold a $1.2bn stake in the business to venture capital firms Sequoia and Paradigm, and its new backers were keen for Citadel to expand into cryptocurrency trading. The market-making business has been continuously tapping credit markets for cash as it has grown, and the new borrowing will swell the size of an existing loan to more than $3.5bn.* + +The reference here is to the much publicised news, at the beginning of this year, about the first time Kenny gave away any part of ownership of Shitadel group in exchange for money: + +[https://www.marketsmedia.com/citadel-securities-sells-1-15bn-stake-to-sequoia-and-paradigm/](https://www.marketsmedia.com/citadel-securities-sells-1-15bn-stake-to-sequoia-and-paradigm/) + +https://preview.redd.it/la43bpyf9aj91.png?width=1768&format=png&auto=webp&s=83dbd67ca488dddab609d7e9125ccc98993a7be1 + +This is recapping some old news, but worth reminding a few points: + +• Kenny started up Shitadel 32 years ago, so it was very interesting timing that he would only agree to "partner" with other companies - in the form of cash in exchange for losing some control of his business - only in the last few months + +• We know how much he loves to hodl what is precious to him - the mayo jar and his company - so this would have come as a major surprise to anyone not following this story too closely + +• Again they used some hoodwinking BS of trying to expand into the crypto markets in partnership with Paradigm, as a reason for giving away part ownership in exchange for a large cash injection + +• However, as far as I am aware, there has not been a peep from all these parties about anything new they have launched in the crypto area, in these last 8 months since that deal + +My guess is that Shitadel has burned through that cash injection already, and hence needed more money. Having used the "crypto expansion" card already, they knew they could not use this as a reason to ask lenders for even more money. So instead this time they went with the "international expansion" line, in an effort to diversify the BS they are using for keeping the borrowed cash flow coming in. Hence the current dire situation they find themselves in: **$3.5 billion in debt!** + +&#x200B; + +***4. Financial Statement for 2021*** + +Now I want to take a closer look at Citadel Securities' most recent Financial Statement, which they filed with the SEC on 25th February 2022 for the year ending 31st December 2021: + +[https://www.sec.gov/Archives/edgar/data/1146184/000128417022000004/CDRG\_BS\_Only\_FS\_2021.pdf](https://www.sec.gov/Archives/edgar/data/1146184/000128417022000004/CDRG_BS_Only_FS_2021.pdf) + +https://preview.redd.it/zq7kkdkn9aj91.png?width=1768&format=png&auto=webp&s=eac947a6c6afbfd50a0bca6b8a4ac87e2e5645e4 + +There are three pieces of information within this that intrigued me - one you would probably already be aware of, but two you may not. The point you may already be familiar with, as it got some good coverage in the sub, was how much of their Assets are canceled out by Liabilities in the form of "Securities sold, not yet purchased, at fair value": + +https://preview.redd.it/o3eochmzz9j91.png?width=1768&format=png&auto=webp&s=b0d25df8cb5ec034e5fa1d6076e3ff21b6c84f55 + +The sheer size of these liabilities, which is really only possible to be of this scale due to Citadel Securities' status as a 'Bona Fide' Market Maker in the NYSE, is quite impressive in itself. However the definition specified in the document for both the securities they own and those "sold, not yet purchased" is quite telling in my opinion: + +https://preview.redd.it/yw0s3d280aj91.png?width=1768&format=png&auto=webp&s=315bc0a0bfdb3bf268885afffd18b9bdada2d31a + +This seems like an indication that a large volume of their liabilities, and thus their entite business model, is based on selling equities they do not yet own. It thus becomes easy to understand how they can increase their revenue by 23%, as they have done, but really be digging their grave deeper and deeper. A large number of those securities "sold, not yet purchased" could go on to become FTDs, and eventually they may be forced to purchase these. Is it thus any wonder a couple of my other DDs this month pointed to GME having an incredible number of FTDs, in large part probably due to Citadel Securities' (and other similar Market Makers') business practices? + +[https://www.reddit.com/r/Superstonk/comments/wk5kmf/last\_week\_i\_reported\_how\_gamestop\_had\_more\_ftds/](https://www.reddit.com/r/Superstonk/comments/wk5kmf/last_week_i_reported_how_gamestop_had_more_ftds/) + +https://preview.redd.it/flf4h4br9aj91.png?width=1590&format=png&auto=webp&s=587386acf448daf6b39946e98bff74e7e5260e96 + +[https://www.reddit.com/r/Superstonk/comments/weebvr/in\_the\_last\_10\_years\_gamestop\_had\_more\_ftds\_than/](https://www.reddit.com/r/Superstonk/comments/weebvr/in_the_last_10_years_gamestop_had_more_ftds_than/) + +https://preview.redd.it/whbtvuri1aj91.png?width=1590&format=png&auto=webp&s=5164b07497bb67c87e3d919a8ad87c7101145c88 + +Now for two more interesting points, hidden away in the "Notes" section of the filing: + +https://preview.redd.it/e1ndz0fu1aj91.png?width=1768&format=png&auto=webp&s=709de0aee5100f5615e05e292efd2555782fa556 + +Let me take you through the two sections here, firstly the Revolving Credit Agreement: + +• Citadel Securities has a Revolving Credit Agreement through one of their Prime Brokers, JP Morgan, to borrow up to $500 million + +• SOFR replaced LIBOR as the means for deciding inter-financial institutions' lending rates during the period covered by this Financial Statement + +• According to the document, they had not made use of this possible $500 million line of credit by the end of 2021 + +• However, this revolving credit agreement would allow Citadel Securities to carry out that borrowing at far lower interest than the SOFR+3% loan they secured last Thursday + +The question that comes to my mind is: why were they trying to get a $400 million loan at the beginning of last week, when they were already able to borrow up to $500 million at a *much* lower interest rate through this Revolving Credit Agreement? It really only makes sense if, some time between January 1st and the beginning of last week, they had *already* used up that particular line of credit. However with this still not being enough, they then had to go out and ask for *another* $400 million, and were eventually able to secure $600 in borrowing. + +&#x200B; + +***5. The mysterious Citadel Securities LP*** + +The second interesting point I noticed was this line in the following section: + +*The Company has entered into an unsecured cash advance agreement with Citadel Securities LP (“CSLP”), an affiliate, in which the Company is the borrower and CSLP is the lender.* + +Huh? Citadel Securities borrowing money from...itself? We know they do have a number of affiliates and shell companies, but this appears to be the holdings company which actually does most of the borrowing. I tried to search for the SEC filings made by specifically this Citadel Securities LP entity, but the closest match is this other (or same?) holdings company that made its one and only filing back in 2018: + +[https://sec.report/CIK/0001748042](https://sec.report/CIK/0001748042) + +https://preview.redd.it/qit0tlh82aj91.png?width=1590&format=png&auto=webp&s=4c53c10be849eb6442dd92b0c80f54d62214d8e6 + +One would think it must be a dead entity. However, I have reason to believe that the loan secured last week was likely, in fact, through this mysterious Citadel Securities LP. The reason I am confident this was the case is this interestingly timed press announcement made by Moody's, the main credit rating agency assessing Shitadel: + +[https://finance.yahoo.com/news/citadel-securities-lp-moodys-says-163006285.html?guccounter=1](https://finance.yahoo.com/news/citadel-securities-lp-moodys-says-163006285.html?guccounter=1) + +https://preview.redd.it/8e1yy5z0aaj91.png?width=1590&format=png&auto=webp&s=b45e34260b7e7076d90f39a5a0dce666e0f16ae3 + +Some of the key points within this announcement, which was made just before Citadel Securities LLC secured the $600 million loan, are the following: + +*Citadel Securities LP's (CSLP) proposed senior secured term loan upsize of $400 million does not affect the Baa3 long-term issuer and senior secured bank credit facility's ratings, and also does not affect CSLP's stable outlook.* + +*Moody's also said that Citadel Securities LLC's (CSLLC), Citadel Securities (Europe) Limited's (CSEL) and Citadel Securities GCS (Ireland) Limited's (CSGI) Baa2 long-term issuer ratings were also unaffected.* + +*Moody's said CSLLC's, CSEL's and CSGI's Baa2 issuer ratings are a notch higher than CSLP's Baa3 issuer rating because of the structural superiority afforded to the regulated operating companies' obligations compared with the holding company's obligations.* + +Therefore it seems likely this holdings company, Citadel Securities LP, is the one that secured the loan. Using the intra-group borrowing agreement between this parent entity and Citadel Securities LLC, they then likely loaned forward the $600 million to the operating firm. Interestingly, it appears Moody's has a higher credit rating for the child company, hence potentially Citadel Securities LLC could have been able to secure less costly borrowing if going directly. + +So why did that not happen, and it was this non-SEC reporting parent company that instead likely got the loan? My conjecture is that it is precisely *because* they are not having to file Financial Statements with the SEC, unlike the operating firm Citadel Securities LLC, that they used this entity. After all, it is best for them to keep the dirty laundry as far away from the public eye as possible. What better way than to have a company that has not made any public disclosures for four years carrying out the negotiations with lenders? + +&#x200B; + +***6. Summary*** + +• Citadel Securities reported a 23% increase in revenue last week during the first half of 2022, but this was in keeping with performances by competitors + +• They made no commentary on profitability during this period, and it could well be that this was in fact a loss making performance + +• The only reason they reported on revenue even was because effectively they were forced to, as a condition of trying to borrow an additional $400 million from lenders for dubious reasons + +• Last Thursday they were able to secure a higher loan than hoped for, worth $600 million, but at an interest rate more than double that charged to financial institutions with stronger fundamentals + +• This loan is in addition to another $500 million line of credit that they previously had through JP Morgan, which was unused until the end of last year but has a much lower interest charge rate + +• It is unlikely they would borrow $600 million at a very high interest rate, without first exhausting their borrowing limit on the lower interest $500 million line of credit + +• Therefore I believe it is reasonable to assume that Citadel Securities has now borrowed $1.1 billion so far this year, through these two separate debt mechanisms + +• Citadel Securities possibly had a method to take on such borrowing at a cheaper rate, however I conjecture they did so using their holdings company rather than the subsidiary operating company, in order to conceal their financial problems + +• Multiple sources now point to their confirmed debt being a total of $3.5 billion, with possibly around a third of this therefore being added so far in 2022 alone + +• This is on top of a $1.2 billion cash injection received from two private equity firms at the beginning of 2022, which was money they received in exchange for Kenneth Griffin giving away partial control of his company, for the first time in its 32 year long existence + +• Hence combining the loans and cash injections, the Market Making entity of Shitadel has perhaps now taken on around $2.3 billion from external sources so far this year + +• Along with their credit rating - just above "junk" status - all of this points to a company that is nowhere near as financially strong as the image they are seeking to portray + +• Keeping in mind that Citadel Securities is *still* likely performing better than the hedge fund entity Citadel Advisors LLC, the Shitadel group as a whole could really be trying to survive just "one more day" at the moment +Thought experiment to help generate some fresh ideas: If you HAD to consolidate your entire portfolio into one stock and leave it there for 10 years, which stock would you choose and why? +She just left to go stay at her sisters. She super mad that I didn't sell at 60k and looks at the price often scolding me. I keep telling her we don't need the money and have the cash. We live nice. However today she caught me buying the dip and was so pissed she almost hit me! Now she packed bags and went to her sisters to stay. She said not to talk to her. This is where I need help, where is a good place to pick up girls in my Lambo? +I think, and this is just my personal opinion, that people shouldn't chase high dividends in dying industries like Oil etc. While dividends are high in Oil companies, you have to consider, where will this company be in 5 to 10 years? Dividend investing doesn't make sense unless you are going to let that snowball keep rolling and becoming bigger and bigger over years. Oil companies FCF, earnings, revenue are all decreasing but the dividend is left to attract investors. In 3-5 years, most oil companies won't have the financial capability to pay a 5% dividend, and the share price will be under $10 so you can't cash out and turn a profit. This is my personal opinion, you can always have your own. Sorry for the long post, I think this needed to be addressed. +Even throughout the hodl during the February $40 dip, I still had some nagging doubts. Not anymore. Only time I care about the ticker is when I go to buy more. Patience. Relax. It will come. + +Edit: Thx for awards and positivity. Apes together strong! Buy the dips and hodl :) + +Edit 2: I’m only HODLING X shares cuz that’s all I can afford. Makes me feel good to see how many GORILLAS are out there picking up my slack. Buy an extra one for me 🤝 +***EDIT: Please note the enumerated points at the bottom are not my own. I quoted another author and share them with you for your awareness and education. I think there are interesting elements in each of these points, but they don't necessarily reflect my views. The top half of the post is all mine.*** + +On the whole, these markets look positively idiotic. Fall / Early Winter BTC buyers are now discovering the world of Alts, and they are driving the market in what I consider to be insane directions. Much of the top 30, and their associated valuations, look like jokes with no punch line. + +Projects with no utility, or with no implemented technology, are reaching ridiculous valuations. It seems that the market has shifted into overdrive for sentiment and momentum investing on the stupidest of factors, including: + +- Low nominally priced tokens, regardless of overall supply (reminiscent of penny stock manipulation in the stock markets) +- Specious corporate partnerships, that are often overstated and sometimes don't even exist +- Staged "trial runs" of functionality, purely for marketing purposes, blinding the uninformed market with regard to the limited fundamental utility of the actual token +- Personality/celebrity-driven endorsements, often in exchange for undisclosed payment +- Media driven FOMO on the above factors (looking at you, CNBC, and your ridiculously shallow coverage for your wealthy viewers who are making very dumb decisions as a result) + +Markets are like Democracy: they can only efficiently allocate capital when participants understand market fundamentals and have access to quality information and internalize it for decision making. Right now, there is a dearth of both of these in new market entrants, with many only getting in to try and 10x their money in a week. And the savvy traders are riding the wave and manipulating that sentiment among the weak-minded. It will collapse at some point, but I do not know when. I hope soon, because is this goes on for too long, it could herald a crypto-wide crash for some time. Only the coins with actual fundamentals will survive a bloodletting like that (like ETH, but it would not be spared the damage either). + +This definitely makes me nervous, but I continue to quietly buy in at 100% into ETH. I'm still struggling to find those other tokens that deserve my fresh fiat. [I wrote the other day on just a few of the reasons why I think 2018 will be incredible for ETH.](https://www.reddit.com/r/ethtrader/comments/7ndoy0/daily_general_discussion_january_1_2018/ds195dg/) And as for ERC-20s, I just don't personally have enough faith that any will be able to outpace ETH, but some definitely will. + +My investment style is not to find the moon shot, but rather, to find the platform I think will be dominant (often after it has already proven this), and invest heavily. This is why I got into ETH last April. A bit late to the party, because I had sworn of crypto after Mt Gox, but better late than never. + +*And I still think ETH is incredibly undervalued, even more so now that I've seen how aggressively the Foundation is working to tackle scaling- and in a way that encourages maximum community participation and innovation.* For example, [Vitalik's announcement yesterday on the subsidy program](https://blog.ethereum.org/2018/01/02/ethereum-scalability-research-development-subsidy-programs/) was awesome. Give it a read and you'll start to get a sense for how much third party innovation Ethereum is really looking to foster. I think they would have done it anyway, but if the CryptoKitties network load spurred them into action, all the better. + +And if you haven't already, make sure you read the [**95 Crypto Thesis for 2018**](https://medium.com/@twobitidiot/95-crypto-theses-for-2018-ca7b74f8abcf) from TwoBitIdiot / Ryan Selkis, and thanks to /u/dabecka for the heads up on this one. + +***I don't agree with it all,*** **but here are several points I found interesting from the article:** + +***NOTE: These don't necessarily represent my own points of view on any of the coins mentioned. These are all points of view you should be aware of, but please consider with caution. I encourage you to read his full post on Medium.*** + +- 3) BTC, ETH, ZEC, and XMR are the main cryptocurrencies. These could still have a LOT of room to run. Money is a reflexive asset where the more people buy it and use it and believe in it, the more valuable it gets. Cryptocurrencies are the ultimate momentum play. + +- 5) Most utility tokens, then, will go to zero, regardless of team quality and execution. You simply don’t need to hold them but for momentum & greater fool investing. When the market lacks “higher order” investors for speculators to flip to, assets will unwind. Viciously. + +- 6) Desperate utility token teams will later try to concoct velocity “sinks” to ward off unravelings. The most common sinks we’ve seen have been to create incentives to “stake” coins: most commonly protocol governance rights and network fee dividends. + +- 9) I didn’t understand XRP at $1bn. I really don’t understand XRP at $100bn. It’s not required to use Ripple’s software, so unless banks are adopting the currency as a new global reserve, it doesn’t make sense. But the top employees are now billionaires, so that’s cool. + +- 11) Cardano, NEM, and IOTA at $10bn market caps make me want to commit seppuku. Seriously, what the f*ck is wrong with people. + +- 14) The time to make money in ICOs was in 2015 and 2016 when they were contrarian. Almost everything else more recently was either a) restricted to insiders, or b) underperformed vs. BTC/ETH. (If you can’t spot the sucker at the table, you’re the sucker.) + +- 21) I respect Vitalik more every day. He says all of the right things and strikes me as a once-in-a-generation type of visionary leader for the ethereum community. That said, whether he ends up like Steve Jobs or Elizabeth Holmes depends on some pretty ambitious technical breakthroughs. Crypto is so polarizing that I don’t know what to believe re their potential. + +- 61) We shouldn’t be surprised that ICOs, CryptoKitties and Spankchain will likely be the early application winners. Gambling, nerd games and porn are always at the bleeding edge of new technologies. (This is entirely predictable, but the scale of the mania was not.) +I keep seeing suggestions that there should be a cap on this things. Usually when people suggest this, they don't really care or think about the economical implications, say for example price caps. + +What exactly would be the implications for this? And would it be necessary negative? +I was reading [Legal Systems Very Different From Ours](http://www.daviddfriedman.com/Academic/Course_Pages/legal_systems_very_different_12/LegalSystemsDraft.html) and it was interesting to see systems that are cohesive and worked in ways that I'm not used to. I guess I'm just looking for more of the same in different fields. Bonus points for anything that falls outside of the Capitalist ~ Communist spectrum, but novelty within the spectrum is still encouraged. +The omnibus spending bill included a surprise gift for workers: employers with 10+ workers are now required to put at least 3% of worker pay in a retirement fund each year of employment. +Did you invest a modest amount of money in crypto, feel excited, then saw people on Reddit investing huge sums, and your excitement faded? + +You are investing for you. Please don't spend more than you can afford to lose because you feel your investment isn't large enough. I know how it feels to own 1/2 of a coin, visit that coin's subreddit and see people talking about how they just picked up 25 more coins (even though it took me 3 months of DCAing to get half a coin). I quickly realized I invested in something I believe in, and my investment size is right for me. I did at first feel the urge to put more money in so I don't miss out on huge gains, but I need my other fiat and I am NOT okay with losing it. So I didn't gamble. + +I think there are a lot of new investors who can safely afford to lose only small amounts of fiat. I bet there are a lot more than you think. They just don't post about how they picked up $8 more of a coin. + +Friends, make the investment that is right for you and don't worry about how much other people can afford to invest. + I have a very simple question. Rather than the new memestock or the ETF with a cool name, which sectors of the economy do you think will outperform the Dow Jones or S&P500 in 2021, and why? + +I have been lurking this subreddit for a while now, and everyday I read a new ETF or stock recommendation. But there are thousands of them, some of them quite risky and dubious. And as someone else said, sometimes investment advise appears more to be a fad. Yet, I have found some of the analysis in reddit quite analytical, well informed and very well thought. + +Probably this thread will be ignored and disappear into oblivion, but it is worth a try as it will better guide investment decisions, particularly to new investors, and which ETF’s to invest in. +I've seen a number of bubbles since the early 1980's. Baseball cards were my first experience with bubbles. I collected them because I liked them. Prices began to rise. Soon Wall Street bankers were buying them as speculative investments. They didn't really like them - they liked the money. Then U.S. real estate in late 80's. Then the DotCom bubble. The Internet was extremely interesting and had almost unlimited potential. Everyone could see it. Then the IPO's started and the valuations grew. Then all anyone saw was the money. I knew people that were mortgaging their house and taking the money and buying .com stocks of companies that had never made a dime (and never did). Then there was the Ferrari boom after that. Then the second U.S. real estate bubble in the early 2000's. The oil bubble. the U.S. Treasury bond bubble. There's the possible current bubble in stocks and real estate again right now. I guess I should throw in the six-pack abs advertising bubble as well. Wealth is created and destroyed over and over. Like in a casino, some win, most lose in the long run. + +The focus on wealth, income and consumer lifestyle is so strong these days that people are like schools of fish that dart from one potential money making scheme to the next, always trying to be the first one in. The accessibility and efficiency of information on the internet make the school move far faster than it used too. + +Crypto has followed the bubble path. As NT said above though "Everyone knows it's a bubble. We still expect it to go higher." There are so many variables involved it's basically impossible to even form a rational assumption as to what is going to happen though. The vast majority in these forums are far more interested in making money from the price appreciation of crypto than pursuing the original ideology behind it of destroying or damaging the legacy banking system or halting governments intrusion into privacy. That's unfortunate because that's what really gives crypto its value. + +90% of the coins out there are useless. They have no value. They all use the same website templates, spout the same rhetoric and wild claims but haven't actually done anything and never will. Yet, millions of dollars are thrown at them eagerly. That is what always happens in bubbles. The ICO creators will spend that money. It will disappear and they still will not have done anything useful. + +The infighting and cannibalization going on in the BTC/BCH/BTC2X arena is another sign. Bitcoin has grown big enough that now everyone wants to try to control it. You hear very little about BTC disrupting anything anymore (except maybe from A.Antonop). It's more about business, scalability, speculation etc. Well, the truth is that almost NO ONE uses crypto. NO ONE. As a percentage of all economic transactions that occur in a day, those involving crypto are essentially negligible. In fact, the dominant amount of volume is just speculators trading back and forth on exchanges. That's not economic adoption. It's just hopeful speculation. The general public just laughs at crypto right now and it probably won't change for some time, if ever. Not with 3 or 4 different versions of BTC fighting it out, 900 different crypto ponzi's running at any given time, and massive hacks or raids occurring on a weekly basis. + +Any newbie trying to learn is going to have to navigate YouTube's plethora of less than honest propaganda pushing affiliate codes for Genesis, hashflare, bitconnect etc. If they do find valid instructive videos then they'll still have to wade through all the slop about BCH vs BTC vs BTC1 vs BTC2X etc. + +As one who got into crytpo as an ideologue it's frustrating to watch. It's like supporting a presidential candidate because of their pre election speeches and then watching them get into office and do absolutely nothing of what they said they would do because they sell out at the first opportunity. That's basically every election here in the U.S. - on both sides. Crypto was a new realm where I thought I could avoid the hyperbole and rhetoric of politics. Maybe move away from the usual glacial speed of change in society and move toward something new and disruptive. But, alas, that may not be the case. + +So, I believe we are in a bubble. The only question is whether it will be a fatal bubble or just a setback. Will it be a long term setback or short term from which the crypto space will recover quickly? I don't know. We'll find out soon enough I guess. A bubble popping will be good. It will purge the space of speculators that could care less about financial innovation and that school of fish will move on to something else. Then we can get back to disruption. + +Tell me what you think. Maybe you can also answer this poll to express your sentiment: http://www.strawpoll.me/13751827 +What is going on these days ? It seems like every firm with some money in their pockets out there is buying up shares in Jio + +[https://www.tribuneindia.com/news/business/after-facebook-uss-kkr-picks-2-32-pc-stake-in-jio-platforms-for-rs-11-367-crore-88388](https://www.tribuneindia.com/news/business/after-facebook-uss-kkr-picks-2-32-pc-stake-in-jio-platforms-for-rs-11-367-crore-88388) + +What sort of goldmine prospects are these people at RIL and Jio are showing to these investors that every tom dick and harry is putting their money into it ? + +I am a novice investor and while I do find Jio an investement oppurtunity in general but this just seems too far solely based on the telecom part that we know about and I feel like I am missing something big here + +**Can somebody please explain.** +Aiming for $100+ a month in dividends, received $132.84 for the month of Feb 2021! + +Switched my focus from purely growth to incorporating dividends in November of 2019. Since Nov, and all of 2020, I heavily focused on dividends stocks except Tesla, ARK, and a few IPOs like PLTR, SNOW, SUMO, U, etc.. + +Was able to keep track of passive income in 2020 and total amount of dividends received was $1137.04 across taxable and non taxable accounts. For 2021, my goal is to receive more than $100 a month in passive income, or ideally at least $1500 total. + +Came a little short in January, but surpassed my goal in February! I did focus mostly on Tech stocks this month and missed out in investing in dividends stocks. I added ~$3K to M1 and ~$2K to Robinhood, $3K to max out 2021 Roth IRA. Bought more Bitcoin too. In March, I plan to focus more on dividends again after reaching my $100 goal! + +Here’s a quick breakdown. + +M1 +Total value : ~$17K +February dividends : $9.20 + +Largest dividends came from Reality Income. $2.81 from 22.608 shares. + +- - - - + +Fidelity (Rollover IRA + HSA) +Total value : ~$28K +February dividends : $38.22 + +According to The Rich app (not sure if it’s 100% accurate, but.. ) my Rollover IRA has $12K that pay dividends with a dividend yield of 2.6%. +According to the app, my HSA has $11K that pay dividends with a dividend yield of 2.3%. + +Largest dividends came from Abbvie. $12.85 from 10.009 shares. + +- - - - + +Ally (Roth IRA) +Total value : ~$29K +February dividends : $37.98 + +According to The Rich app, my Roth IRA has $21K in assets that pay dividends with a dividend yield of 4.9%. + +Largest dividends came from Apple. $12.54 from 61.263 shares. + +- - - - + +Robinhood +Total value : ~$9K +February dividends : $8.69 + +According to The Rich app, Robinhood has $3K in assets that pay dividends with a dividend yield of 5.1%. + +Largest dividends came from Energy Transfer. $10.28 from 66.87 shares. + +- - - - + +Wife’s Roth IRA +Total value : ~$15K +February dividends : $18.97 + +The Rich app, states that she has $8K in assets that pay dividends with a dividend yield of 2.9%. + +Largest dividends came from SPHD $12.78. She owns 88.285 shares. + +- - - - + +Also, got a few dollars for my Charles Schwab account, and wife got a few cents in her WeBull account, but didn’t add that info. + +Wanted to share my progress and provide some info before all the questions asking how much I have invested. Hope this helps motivate some of you! +**2013-2015** +BTC: $1,127 --> $200 (-82%) +**2017-2018** +BTC: $19,423 --> $3,217 (-83%) +ETH: $1,448 --> $85 (-94%) + +**Current cycle:** +BTC: $67,167 --> $23,000 (-65%) +ETH: $4,815 --> $1,200 (-75%) + + +It might dip below or this might be the bottom but one thing is sure this is an lifetime opportunity to buy here if you are in for long terms. +Hello fellow Redditors - I was recently reading the Intelligent Investor by Benjamin Graham, and came across this quote: + +“One fairly dependable sign of the approaching end of a bull swing is the fact that new common stocks of small and nondescript companies \[IPOs\] are offered at prices somewhat higher than the current level for many medium-sized companies with a long market history.” + +After skimming over many of the recent IPOs, (some popular ones such as $COIN, $ABNB, $DASH, $OTLY), it becomes quite apparent that not only are offerings becoming more frequent, they also fall under the category of "prices somewhat higher than the current level for many medium-sized companies with a long market history." + +What do you all think about this? It seems to completely describe today’s market conditions. 2020 was a record year for the quantity of IPOs, and 7 months in to 2021, we have seen almost 2x as many as 2020, at very hyper-inflated valuations. All opinions are appreciated. +So far I didnt get bad tenants but my fear in the future is leasing to a problematic tenant. I hear stories about destroying everything etc. If that happens, can you sue the tenant? What are your tips of selecting a good tenant? +Nevermind the logistics behind *how* we would get a place like Amazon to accept ETH as payment--but what's the point besides a quick price pump? + +1. ETH is not designed to be a currency; it is a usage token. +2. ETH is not ready to scale to the size required for such payment. +3. Why would anyone spend their ETH today when they think it will be worth twice as much tomorrow? +4. Did Bitcoin teach us nothing? It typically works like this: + +* Brigade a company's customer service to accept ~bitcoin~ Ethereum +* They give in, set it up, and decide to accept (maybe) +* No one spends their Ethereum because we are Holders +* Said company quietly phases out their acceptance after a few months--because no one uses it. + +You want to get it listed on exchanges? AWESOME! Let's do it! More liquidity for what most of us ACTUALLY USE ETH for! + +I can't do this anymore. The glory days of /r/ethtrader are long gone. + Due to limitations of text size, I am posting the entire summary as one post. (edit: I thank the moderators for directing post-budget discussions to this thread.) + +# Budget highlights + +## Part A + +Unless otherwise mentioned, the statements are paraphrases of the speech of the FM. (comments from me are in brackets) + +## Context + +&#x200B; + +* Budget reflects our commitment to the people of India +* /list of the usual suspects of the focus of the government +* Cleanup of bank NPAs and recapitalization +* GST gets the Centre and States to work together for the nation as a whole +* Average household saves about 4% of the monthly budget due to reduced rates - overall 1 lakh crore of benefit +* /Big numbers quoted on the stats of GST +* Between 2006 and 2016, India lifted more than 27 cr people out of poverty +* Central govt debt has come down to 48% of GDP (from 52% 5 years ago) +* Budget is presented amidst two mega trends - Proliferation of technology, and High percentage of working age population +* Three themes:  "Aspirational India",  "Economic development - for all",  "Caring Society - both humane and compassionate" +* <missed the part on indices +* /Kashmiri verse  - sole vatan gulmohar...   Our nation is like the blossomingShalimar gardens,   bloming lotus in Dal lake,  thh bllod of youth...     My nation, your nation, our nation - most beloved in the world" + +## Aspirational India theme + +## Agriculture, irrigation, rural dev + +&#x200B; + +* Committed to double farmer income by 2022  (Note: This is farmer income, not farm income or food income) +* Encourage state governments to undertake model laws introduced by the centre -   contract farming, APMC, livestock promotion  +* **20 lac farmers to be helped for standalone solar farms - on shallow or barren land**, another 15 lac to use solar powered pumpsets to feed the grid +* Balanced use of all kinds of fertilizers - going away from the excessive use of chemical fertilizers +* /Poem from Avvaiyar - "Bhoomi Thiruthi Unn"   -  Tend to your land and get feed from it +* Efficient warehouses at block and taluk level  - in PPP model;  FCI and CWC would also build more +* **Woman SHGs to be encourage in building seed bank** +* IR would have refrigerated coaches for precious goods;  cargo flights focused on agri produce +* Horticultural production - 300+ million tones - produces more than agri sector    -   Focus one product in one district +* Strengthen organic produce +* Double milk production +* Agri credit availability to be enhanced + +&#x200B; + +* More SHGs for alleviation of property + +&#x200B; + +* 2.83 lac crore + 1.3 lac crore overall allocation + +## Wellness, water and sanitation + +&#x200B; + +* Priority to aspirational districts to build AB hospitals +* Proceeds from tax on medical devices to be used for hospitals +* Indradanush to cover 12 more vaccines +* **Committed to ODF Plus, to sustain behavioural aspects** +* 3.6 lac crore for Jal Jeevan - piped water to all homes + +## Education and skills + +&#x200B; + +* India will have world's largest working age population by 2030 +* NEP to available soon +* **ECB and FDI to be allowed in education** +* 150 higher ed institutions to start apprentice linked degree and diploma courses by 2021 +* Local bodies to provide internship to to fresh graduates for 1 year +* Full fledged, online degree programs - only from top 100 in NIRF - for the poor +* **An IndSAT exam in Asia and African countries** +* Police and Forensic Science universities +* Medical college to be attached to district hospitals - viability gap funding to be extended +* Large hospitals can offer DNB and FNB to resident doctors +* 99,300 cr for education and 3,000 cr in skill development for nursing, caregivers, etc. + +## Economic Development + +## Industry, commerce, trade + +&#x200B; + +* Words from Indus scripts - Guild, Wholesale merchant, Assayer of metals, Black smith, tin smith - show long tradition of industry and trade +* Entrepreneurship has always been the strength of India +* Investment clearance cell for end-to-end facilitation +* 5 new smart cities focused on industry +* Further measures for mobile phone assembly, semiconductor boards, electronics, etc. +* Look to reverse the tide of import of technical textiles +* All ministires would be issuing quality control orders +* **Better insurance and refund mechanisms for small scale exporters** +* Every district to be an export hub +* GEM to be expanded further - 3.24 lac vendors already on platform +* 27.3 k crore for the sector + +## Infrastructure  + +&#x200B; + +* National Infrastructural Pipeline (announced earlier too) +* Project preparation facility to involve young engineers and MBAs +* National Logistics Policy to be announced soon +* Accelerated development of hihgways - 2,500 km of access control highways, 9000 km of economic corridor +* **Delhi-Mumbai to be completed by 2023;**  Chennai - Bengaluru to be started soon +* More Tejas like trains; continuation of other recent initiatives +* **140+km suburban rail for Bangalore on metro model**    (Good job Tejasvi Surya!) +* 1.7 lac crore for transportation +* One port to be taken up for privatization +* Smart metering proposed for electricity - goal is 3 years +* More measures to reform discoms +* Moe work on pipelines, gas grid +* 22k cr for power and renewables + +## New Economy + +&#x200B; + +* **Private sector to build data center parks** +* BharatNet to cover 1 lac gram panchayats +* Digital platform for IP +* 8000 cr over 5 years for quantum tech + +## Caring Society + +## Women and Child welfare + +&#x200B; + +* **Across all levels - Gross enrollment ratio of girls is higher than boys** \- 94.3 for girls vs 88-odd for boys   (lots of noise from the opposition on the mention of Beti Padao...) +* Poshan Abhiyan to be strengthened further - 6lac anganwadi workers equipped with smartphones to track health parameters of 10 cr households +* Task force to increase age of women entering mothehood +* 28.5 k crore for programmes specific to women +* 35.6 k crore for nutrition programmes +* Eliminate manual cleaning of septic tanks +* Numbers for specific communities and groups + +## Culture and tourism + +&#x200B; + +* Institute of heritage - deemed university +* 5 arch sites to be developes as iconic sites - Rakhigarhi, Hastinapur, Shivsagar (Assam), Dholavira,  Adhichanallur (TN) +* Mint building to have Numismatics museum +* Maritime museum at Lothal +* 3k cr for Culture +* Rank from 65 to 38 in travel index +* 2500 cr for tourism development + +## Environment and climate change + +&#x200B; + +* India to implement commitments - given under Paris accord - from 1.1.21 +* Advice to close older high-emission plants and re-use land +* Encourage states to implement Clean Air acts in cities over 10 lac in population +* Expectedly one quote from Thirvalluvar -  Jewwls of a good country -  Health, Wealth, Food production, Happiness, Security ans safety +* (associated programmes with each of these jewels...) + +Two hands would hold these themes - Governance and Financial Sector + +## Governance  + +&#x200B; + +* (a few political points) +* Efficiency and fairness of tax adminsitration +* Taxpayer charter to be included in the laws +* Amendments in Companies Act to decriminalize civil violations +* **National Recruiting Agency for non-gazetted officer posts** +* Strengthening of Contract Act +* Improvement in Statistical Institutions - new National Policy on Official Statistics +* India would be G20 president in 2022 - seek to drive global development agenda +* 37k crore for UTs + +## Financial Sector + +&#x200B; + +* 3.5 lac crore infusion in the past for bank capital +* Some PSB may go to capital markets +* Mechanism to monitor health of all scheduled commercial banks  (Note>  Not +* **Deposit insurance coverage to go up to 5 lac per depositor** +* Debt recovery thresholds reduced for NBFC +* Balance govt holding in IDBI to be sold off to private players +* **Universal pension coverage would have auto enrollment** (further info to be awaited on this) +* Amendments to PFRDA - separation of NPS trust of govt model from PFRDA +* NBFCs can extend invoice financing for MSMEs +* Scheme to provide subordinate debt for entrepreneurs of MSMEs  -  would be quasi equity +* 5 lac MSMEs have benefited from debt restrucuring last year - window to be extended till Mar 2021 +* App based invoiced financing loans +* Certain categories of govt bonds would be available for foreigners +* Legislation to strengthen credit default swaps +* FPI in corporate debt to be raised to 15% +* **More debt ETFs - government securities** +* Measures to further improve liquidity of NBFCs +* GIFT city - strengthened further - would have bullion exchange +* **LIC to have IPO** +* 15th Finance commission has given its first report - most have been accepted - final report to be presented later this year +* Balances in GST to be transferred to GST compensation funds +* Budget annexure has list of non-sheet debts used to fund expenses; servicing of interest on these are done from CFI + +## Fiscal Numbers + +&#x200B; + +* 19,32 lac crore of receipts so far +* Nominal growth estimated at 10% +* Receipt of 22+ lac crores +* Expenditure at 30.42 lac crores +* **Fiscal deficit estimated at 3.8%  (3.5% for next year)** +* In line with trigger mechanism of FRBM act - Section 4(3) +* Net market borrowing 4.9 lac crore - 5.3+ lac crore for next year +* Capex being increased by 21% + +## Part B - Taxation measures + +## Direct Taxes + +&#x200B; + +* /Kalidasa quoted now - Prajanam Eva ...  - Sun collects vapours from little drops of water and give backs copiously... So does the king... +* Measures would stimulate growth + +## Personal Income Tax + +&#x200B; + +* Proposal for simplified taxes - **lower rates if you forego exemptions** +* Zero tax till 5 lac +* 10% for income upto 7.5 lac +* 15% for 7.5 to 10 lac +* 20% for 10 lac to 12.5 lac +* 25% for 12.5 lac to 15 lac +* <these are without exemptions. no info yet on which exemptions go away> + +* <examples give benefit even for people maxing out 80c> +* New regime is voluntary +* (this is in line with many OECD countries) +* Prefilling of returns for new tax regime +* More than 100 deductions and exemptions now - have removed 70 of them in the new regime +* Would review and rationalize the others too + +## DDT + +&#x200B; + +* No DDT for companies. Investors would pay tax at their rates (not known if it would be marginal rate) +* Estimated revenue loss is 25K crore + +## Indirect Taxes + +&#x200B; + +* Power companies to get new lower tax rates +* Extension of concessions on various taxes... +* ESOPs to have deferred tax payments - benefit tax to be levied after 5 years, or on sale or exit... +* 100% exemption for foreign sovereign funds investing in infra +* Co-operative societies to have an option to get 22% tax - like corporates; also exemption from MAT +* Audit threshold increased to 5 cr based on turnover for some MSMEs  - but only if you do less than 5% transactions in cash +* Tax holiday for developers of affordable housing till Mar 21 +* Interest exemption extended for 1 year +* 80G to be eased further - pre-fill of information +* Centralized, online registration for charitable institutions +* "Vivaas Se Vishwas Scheme" - to reduce tax disputes    - 4.83 appeals pending now - tax payer to pay only the disputed tax and not penalties and interest - till 31 Mar 2020 +* CBDT would issue a taxpayer charter +* Instant PAN through Aadhaar + +## GST + +&#x200B; + +* Many ease-of-use measures on indirect taxes and GST +* Aadhaar based verification of GST registrations +* AI and data analytics to catch fraud in Input Tax Credit + +## Customs + +&#x200B; + +* Specific measures to curb FTA misues +* Additional health cess on import of medical equipment +My wife and I are working toward being fatFIRE, but there’s one thing that plays on my mind a lot as I think about the wealth we’re creating. + +How not to let our wealth make our children spoiled and lazy. + +For context, we have 3 young kiddos and will probably have one more. I was born into a middle class family, my dad was a doctor, my mother owned her own business, we lived in a 4 bed house in a desirable suburb, they bought their first Mercedes when I was 5. Besides having pretty nice cars (which were never brand new and owned for at least 7 years before being replaced), my parents were actually very frugal. They spent money on things that were needed, but never bought designer clothes or lavish vacations etc. + +As our family gains more and more financial wealth, I’m finding myself terrified of letting my kids become spoiled, having lots of money but never understanding the value of it. + +In some ways I’m haunted by an anecdote a friend of mine once shared with me. In his youth he spent time working on yachts as a way of travelling the world. He said he could always tell which guests had made money and which guests had inherited it - the inheritors always slept in late while those who made money themselves were early risers (the only person he remembers bucking this trend was actually Bill Gates’ son). + +So, all this to say, those who are ahead of us, both in wealth and family age, what did you do to make sure your kids didn’t accidentally become spoiled? + +EDIT: + +A lot of you aren’t too happy with me for describing my upbringing as middle-class. Here’s something I wrote to provide more context + +“I was actually brought up in the U.K., so our terminology is a little bit different to the US. + +In the U.K. one is born into the Upper class, but can only work their way up to being upper-middle class, no matter how wealthy you are. + +Our new Prime Minister who has a net worth about 2x of King Charles is upper middle class, whereas KCIII is upper class simply because he was born into royalty. + +Among friends, I refer to my upbringing as “middle-middle class.” + +I should also point out that being a doctor, though still a desirable career, pays significantly less in the U.K. than it does in the US. + +I should also clarify that the business my mother owned was a small shop, nothing fancy. + +I hope that helps!” + +Rogers Communications Inc. plans to acquire Western Canadian rival Shaw Communications Inc. for $20.4-billion in a deal that unites two family dynasties in a nationwide battle for customers against BCE Inc. and Telus Corp. + +Shaw chief executive Brad Shaw decided his Calgary-based company could no longer go it alone in an increasingly competitive telecom market and needed to combine forces with Rogers on a planned $6.5-billion network expansion in Western Canada. + +“5G and our urban and rural networks are critical to our customers, and we can move more quickly together than either of us could on our own,” he said in an interview with The Globe and Mail. + +Toronto-based Rogers is offering $40.50 per share for Shaw, a 69-per-cent premium to where the Calgary-based company’s stock recently traded. Rogers received an irrevocable commitment to the bid from the Shaw family, which holds 79 per cent of the votes at a business founded by cable entrepreneur JR Shaw, Brad Shaw’s father. + +The takeover requires shareholder and regulatory approval and is expected to receive intense scrutiny from the federal government as it would eliminate Canada’s fourth-largest wireless player. Both the federal Liberals and Conservatives push the idea of multiple competitors as a way to bring down cellphone bills. In the past, analysts have said if Rogers and Shaw merged, they would need to sell a portion of the wireless business to win over regulators. + +Open this photo in gallery +Brad Shaw, chief executive officer of Shaw Communications Inc. is photographed at the company headquarters in Calgary on Thursday, November 17 2016. + +CHRIS BOLIN PHOTOGRAPHY INC/THE GLOBE AND MAIL + +Rogers chief executive Joe Natale said in an interview the two companies plan to tell regulators and politicians that combining their operations will increase efficiency, lower prices and increase connectivity, “bridging the digital divide” between cities and underserved rural and Indigenous customers. “This combination is the right thing for Canada and consumers,” he said. + +Rogers and Shaw made a series of commitments to Western Canada in announcing the deal, including a promise to add 3,000 new jobs in Alberta, B.C., Saskatchewan and Manitoba, and to maintain a significant regional head office in Calgary. If successful, Rogers plans to spend $2.5-billion rolling out its 5G network in the four provinces, and set up a $1-billion fund to provide high speed internet to rural, remote and Indigenous communities. The company earmarked an additional $3-billion for upgrading networks in the West. + +The seeds for the takeover were sown last summer. Mr. Natale had dinner with Mr. Shaw in Calgary while he was in Alberta to review Rogers’ operations; the two have known each other for years. Over the course of the meal, the two CEOs talked in general terms about joining forces. Mr. Shaw followed up with a phone call to Mr. Natale early this year, and the two agreed on specifics during a recent meeting at a Calgary airport hangar, negotiating across what Shaw’s CEO described as “an appropriate social distance.” + +Open this photo in gallery +Rogers Communications CEO Joe Natale speaks to shareholders during the Rogers annual general meeting in Toronto on Friday, April 20, 2018. + +NATHAN DENETTE/THE CANADIAN PRESS + +Bankers called the transaction “Project Scotch,” with Shaw codenamed “scotch” in all documents, to mask its identity, while Rogers was called “rum.” With Shaw’s debt included, the total value of the acquisition is $26.2-billion, among the largest takeovers ever staged by a Canadian company. The offer values the Shaw family’s stake at $2.3-billion, and they will take 60 per cent of the purchase in Rogers non-voting shares and $920-million in cash, making the clan the second largest shareholder, after the Rogers family. Rogers will fund the acquisition with cash on hand and by borrowing. + +Mr. Shaw will join the Rogers board after the deal closes, and the Shaw family will have the right to name a second Rogers director. Combining the two companies is expected to result in $1-billion of annual cost savings for Rogers. If regulators and shareholders sign off, the two companies said the deal is expected to close in the first half of 2022. Rogers is buying Shaw at a multiple of 10.7 times the company’s forecast earnings before interests, taxes, depreciation and amortization, or EBITDA. + +Both Rogers and Shaw were founded in the 1960s and built their businesses by acquiring a series of family-owned cable companies. Both saw their founders pass away relatively recently: Ted Rogers died in 2008 and JR Shaw passed away last March at age 85. The two CEOs said their common experience, and years of rivalry that included numerous practical jokes, paved the way for a friendly takeover. + +Open this photo in gallery +The Rogers logo is photographed in Toronto on Monday, September 30, 2019. + +TIJANA MARTIN/THE CANADIAN PRESS + +Mr. Shaw, who took the reins in 2010, said he had numerous conversations about the future of the company with his late father and his late brother, former CEO Jim Shaw, who died in 2018 at the age of 60. “We constantly discussed where the company is going,” Mr. Shaw said. “Some of those conversations were easier than others.” + +In the Shaw offices, difficult conversations were held ahead of Mr. Shaw’s decision to sell the company’s media assets, which included the Global Television Network, to Corus Entertainment in 2016 for $2.65-billion, and his move to sell its data-centre business in 2017 for $2.3-billion. In hindsight, both moves paid off. Shaw used the money it raised to buy and build out its Freedom Mobile Inc. and Shaw Mobile cellphone businesses that are now its fastest growing platforms and attractive assets for Rogers. + +Mr. Shaw said his father understood the logic of potentially selling the company. He said the family wants its legacy to be as builders of the leading Canadian telecom platform, and combining forces with Rogers is the best way to achieve that goal. On the other side of the table, Rogers has always coveted a national platform to better compete with BCE. Mr. Natale said that at a Rogers board meeting last week to approve the transaction, long-time director and former chair Alan Horn said, “Somewhere, Ted is smiling, and saying ‘Now, will you just get on with it?’” + +Last year, Rogers and U.S. telecom company Altice USA Inc. made an unsuccessful $10.3-billion bid for Quebec-based rival Cogeco Inc. Rogers continues to be the largest single shareholder in Cogeco and subsidiary Cogeco Communications Inc. Mr. Natale said the company’s friendly offer for Shaw has no bearing on its Cogeco investments. + +Shaw got its start in the cable industry in Edmonton, and only got into the wireless business in 2016 when it purchased Toronto startup carrier Wind Mobile Corp., now called Freedom Mobile, for $1.6-billion. Since then, Shaw has invested billions in building out its wireless network. Last summer, the company launched a new Shaw Mobile service, available as part of a bundle to its internet customers in Western Canada. The aim was to win back internet subscribers in Alberta and British Columbia from Vancouver-based rival Telus, which has been eating away at Shaw’s market share. + +In negotiating the deal, Rogers hired BofA Securities and Barclays as its financial advisers and Goodmans LLP as law firm. TD Securities and law firm Davies Ward Phillips & Vineberg LLP advised Shaw. Shaw also struck a special committee of its board, which was advised by CIBC World Markets and law firm Burney Duckworth & Palmer LLP. The Shaw family’s trust used Dentons Canada LLP as their lawyers, while Torys LLP advised the Rogers family trust. + +https://www.theglobeandmail.com/business/article-rogers-seeks-to-buy-shaw-for-204-billion-in-deal-that-would-transform/ +"Holy moley, what a game[stop]" [(Gould, 1892)](https://archive.org/details/bub_gb_oDgPAAAAQAAJ/page/n219/mode/2up) + +HOLY MOLY HOLY MOLY HOLY MOLY HOLY MOLY HOLY MOLY HOLY MOLY HOLY MOLY HOLY MOLY HOLY MOLY HOLY MOLY HOLY MOLY HOLY MOLY HOLY MOLY HOLY MOLY HOLY MOLY HOLY MOLY HOLY MOLY HOLY MOLY +Hi everyone, + +My apologies for not being more active the last two weeks or so - life has a tendency to get in the way. But part of that involves something that I'm very excited to announce on here, hopefully in another week or two. + +Today I want to call your attention to FINRA's most [regulatory notice - 21-19](https://www.finra.org/rules-guidance/notices/21-19). + +This is clearly in response to the volatility involving GME and AMC, amongst others. FINRA is proposing some very significant changes to short-sale related disclosures. This is a big set of changes, and it looks very encouraging to me. The headlines are: + +* Consolidation of short interest data publication, centralized on the FINRA website +* Changes to the content of short interest data + * Require firms to segregate short interest held in proprietary accounts vs that held in customer accounts. + * Report to FINRA account-level short interest (not for publication). + * Report synthetic short positions. Interestingly they only note options contracts, and do not include security-based swaps. They are asking for comments on this. + * Loan obligations from arranged financing to better reflect actual short sentiment. + * Total shares outstanding and the public float. +* FINRA is considering reducing reporting timeframe to daily or weekly, and is asking for comments on this. +* Information on allocations of FTD positions - a daily report of FTD allocations at the security level, with applicable closeout obligation. This would not be for publication, but to allow FINRA to conduct more effective investigations. +* They're asking for comments on whether to create a reporting framework around stock lending activity. + +If you visit the page I linked above, you can see the full details of the regulatory notice, and also all of FINRA's questions for public comment. + +Submitting a comment letter can be a very effective way of advocating for change and showing FINRA that there is demand for a far more rigorous disclosure regime. The best comment letters are concise, well cited with evidence to back up claims, and unemotional. I know this is a hot button topic, but my feeling is that FINRA is trying to figure out what to do here, and I would urge you to engage them in good faith. + +Please let me know if you have any questions, I'll do my best to respond to as many as I can. +Goldman bought £75m of shares in Deliveroo to lift price on debut. The purchase equates to nearly a quarter of the value of shares traded in Deliveroo during its first two days as a public company. + +> Purchase equates to nearly quarter of value of shares traded in Deliveroo during first two days as public company. + + +> The share purchase by the bank, when taken together with the “overallotment” option, would mean the bank would have recorded a profit from the food delivery group’s declining share price, the report said, adding that most of these profits would be given to Deliveroo as part of an undisclosed agreement. + +> Deliveroo did not immediately return a Reuters request for comment, while Goldman declined to comment. + +https://www.ft.com/content/bf75f260-33d8-42ea-85c3-6482aa1fb2ff + +https://www.reuters.com/article/us-deliveroo-ipo-goldman-idUSKBN2BT2JL +___ + +The elephant in the room no one wants to talk about. +Illegal labour. + +___ + +Deliveroo and Uber were told of illegal workers months ago + +> Uber Eats and Deliveroo were warned that their delivery couriers were renting out their jobs to unvetted illegal immigrants as long ago as last summer. + +> The companies allow couriers to appoint “substitutes” who are supposed to be legitimate workers. Whistleblowers told The Sunday Times that illegal residents, **including people who have entered the UK concealed in lorries**, were paying up to £100 a week to deliver food without undergoing any checks. + +https://www.thetimes.co.uk/article/deliveroo-and-uber-were-told-of-illegal-workers-months-ago-85wtn2b20 + + + + + + + +Deliveroo IPO: as criticism grows over workers’ rights, is the loss-making app really worth £7.6bn? + +> **Deliveroo has never made a profit despite low rates of pay, taking a cut of up to 30 per cent of the price that restaurants charge**, and enjoying a huge boost in sales during the coronavirus pandemic. + +https://www.independent.co.uk/news/business/analysis-and-features/deliveroo-ipo-share-price-workers-rights-b1824584.html + +Deliveroo: Investor warns of workers' rights issues at firm + +> Aviva Investors, which manages £365bn of assets, said it would not invest as Deliveroo's riders did not get the minimum wage, sick leave and holiday pay. + +> David Cumming, chief investment officer at Aviva, told the BBC's Today Programme investors were taking social responsibilities "a lot more seriously". + +https://www.bbc.com/news/business-56510493 + +More big investors shun Deliveroo over workers' rights + +> Aberdeen Standard, Aviva Investors, BMO Global, CCLA, LGIM and M&G said they were put off by factors including the working conditions of its riders and lack of investor power. + +> Deliveroo said it had seen "significant demand" for stock with interest rising. + +https://www.bbc.com/news/business-56515498 + +___ + +Deliveroo Sinks 31% in Setback to London Effort to Lure IPOs + +> The company and its banks also sought a premium valuation for the stock. At the offering price, Deliveroo fetched 6.4 times last year’s revenue, versus a multiple of 5.8 for Just Eat. At the middle of the original price range, the stock would have been valued at 19 times gross profit versus less than 7 times for its Dutch rival, said Alberto Tocchio, a portfolio manager at Kairos Partners. + +> Deliveroo and investors sold 384.6 million shares at the offer price, equal to a 21% stake. The company raised 1 billion pounds, while shareholders including Amazon.com Inc. and Shu, the founder, sold the remaining 500 million pounds of stock. + +https://www.bloomberg.com/news/articles/2021-03-31/deliveroo-ipo-raises-2-1-billion-in-biggest-u-k-deal-this-year + +___ + +Disaster strikes as Deliveroo becomes ‘worst IPO in London’s history’ + +> That was not an option for Deliveroo, which lost £224m last year in a highly competitive market and warned regulators a year ago that it had come close to bankruptcy. + +> **Deliveroo’s advisers, who collected £49m in fees** from the company and several million more from Deliveroo’s selling shareholders, unnerved some buyers by **refusing to identify the three “anchor investors” who they said were supporting the IPO**. + +> The roadshow ran into further trouble over the **dual-class shares that gave Will Shu, chief executive, outsized voting rights**, but which meant Deliveroo would not debut into the FTSE 100 index, depriving it of investment from passive tracker funds, and which triggered outrage from a several large British fund managers. + +https://www.ft.com/content/bdf6ac6b-46b5-4f7a-90db-291d7fd2898d + +___ + +Deliveroo IPO slump burns 70,000 retail investors + +> Deliveroo let its customers and the general public invest through a platform called PrimaryBid. **Around 70,000 individuals put £50m into the company.** + +https://news.yahoo.com/deliveroo-stock-share-price-london-initial-public-offering-ipo-amazon-retail-investors-primary-bid-140032615.html +I'm about 1-2 years from FIRE (if all goes well). + +One of my main worries is, what will people think when I tell them I don't work for a living? I suspect they'll respond negatively. Our society tends to stigmatize people who aren't economically productive. + +Note, I'm mostly concerned about about future friends and potential romantic partners. I don't care what the average Joe thinks. + +I suppose I could always bullshit my way through it ("I'm a freelancer!"), but I'd prefer not to build any future friendships on a foundation of lies. + +I'm also concerned about dating. I'm single, and prospective partners would probably be judgmental about my not having a job. I guess I could tell them I'm financially independent, but that could easily backfire (or attract them for the wrong reasons). +Kraken CEO today came out with an attack on San Francisco's administration after their employees were attacked and robbed, leading to the closure of Kraken's global headquarters in San Francisco. + +According to Kraken, business partners were also afraid to visit, and crime, drug abuse etc are out of control in the city. Kraken has blamed the policies of District Attorney Chesa Boudin. + +He says "San Francisco is not safe and will not be safe until we have a DA who puts the rights of law abiding citizens above those of the street criminals he so ingloriously protects." + +[Full statement by Kraken CEO Jesse Powell, RT'd by him as well...](https://preview.redd.it/leqkz1nqo4s81.jpg?width=1330&format=pjpg&auto=webp&s=9782f5a70d2afe1961002145d8046956221a62fc) +Good morning everyone! + +I rarely follow politics and all that jazz, but wanted to get a true idea of what impact Trump's presidency (regardless of your opinion on him) has had on our economy. I hear a bunch about low unemployment rates and all that, but wanted to get more information before I formed any true opinions on the matter. I hope this is the correct forum for this and eagerly await the responses! + +Thank you and have a wonderful day! +I work full time and am now starting to lose money each month. My generation is screwed at this point. + +I should be able to afford a small one bedroom apartment and a used car. + +I took a sick day Monday due to anxiety. Last night I woke up at 3 am with an anxiety attack. Money is always on my mind. I am sad and I don't know how long I can keep this up. +French Connection Finance has received the partnership Contract from the NASDAQ listed corporation! THIS IS HUGE! The community have been waiting for this for the past 5 weeks! A top 3 global money transfering corporation has submitted a contract to FCF, THIS IS MAJORRRR! + +Beta testing of FCFPay begins on january 4th + +$FCF is a revolutionary token developing a cypto payment gateway that is integrating with the two biggest e-commerce platforms – WooCommerce & Shopify! Imagine paying on e-commerces with crypto! You could shop online and spend your crypto gains without having to send them to the bank. This would make Crypto the CASH of the internet! + +This will allow FCF to unite the $4 trillion-dollar online shopping industry with the cryptocurrency world. This unification positions FCF as inevitable for mass adoption and secures the future of FCF as an essential crypto technology! + +$FCF got listed on 4 exchanges in 4 weeks! LBANK, HOTBIT,COINSBIT AND LATOKEN. There is more to come! Dev is working on [GATE.io](https://gate.io/) and KUCOIN + +The payment gateway will incentivize adoption by featuring a fee structure lower than PayPal and credit card processing companies. + +Beta testing in December and going live in January, FCF Pay will allow you to buy flowers with BNB and order food with Cardano (or any other crypto) without requiring you to swap crypto for fiat and then transferring that into your bank account! Simply buy with your existing credit card using the FCF payment gateway! + +Every payment gateway transaction will also induce a buy back and BURN mechanism in FCF, thereby increasing the value of your FCF by reducing the overall supply! + +$FCF rewards holders with 5% BNB dividends based on trading volume AND when FCF Pay is launched, you will earn dividends on every payment gateway transaction! This safeguards your investment from bear markets by establishing a second source of dividend revenue! Imagine receiving a portion of the $4 trillion-dollar e-commerce industry simply by holding FCF! + +FCF is also launching an NFT collection, The FrenchFellas! + +The Dev is always active and always OVERDELIEVERS. + +Dev is Doxxed, KYCd and a Certik audited! + +**Medium**: [https://medium.com/@fcf/fcf-pay-january-4th-abd34c2d7ee7](https://medium.com/@fcf/fcf-pay-january-4th-abd34c2d7ee7) + +NFT COLLECTION JUST LAUNCHED over 25% already sold! You can win up to 140 000$ by minting: [www.frenchfellas.com](https://www.frenchfellas.com/) + +**Website**: [www.frenchconnection.finance](https://www.frenchconnection.finance/) + +**NFT Website**: [www.Frenchfellas.com](https://www.frenchfellas.com/) + +**Contract**: 0x4673f018cc6d401aad0402bdbf2abcbf43dd69f3 + +**Telegram**: [https://t.me/frenchconnection\_bsc](https://t.me/frenchconnection_bsc) +https://www.igmchicago.org/surveys/inequality-populism-and-redistribution-2/ + +There are many theorized causes- a major one being [increased efficiency from technology.](https://www.igmchicago.org/surveys/inequality-and-skills/) That seems irreversible. + +What are we to do about rising inequality? One proposal seems to be some form of wealth redistribution (first IGM survey), but what would that look like? Are there other solutions? +**INTERNATIONAL APES CAN ALSO COPY/PASTE AND EMAIL EITHER THE BBC OR YOUR LOCAL MEDIA/NEWS OUTLETS USING THIS TEMPLATE. THIS IS FOR EVERYONE.** + +**EDIT** : If you want just a general (non-UK specific) template, there's a one down in the comments. Linking [here](https://www.reddit.com/r/Superstonk/comments/whkrz2/comment/ij8hfmf/?utm_source=share&utm_medium=web2x&context=3). + +Any of you guys feeling tired, lied to, lazy or angry? Copy/paste this letter and send it to the BBC: + +* [newswatch@bbc.co.uk](mailto:newswatch@bbc.co.uk) +* [YourQuestions@bbc.co.uk](mailto:yourquestions@bbc.co.uk) +* [newsgathering@bbc.co.uk](mailto:newsgathering@bbc.co.uk) +* [haveyoursay@bbc.co.uk](mailto:haveyoursay@bbc.co.uk) +* [bbcnewschannel@bbc.co.uk](mailto:bbcnewschannel@bbc.co.uk) + +^(\*\*these addresses were found online and were shared by the BBC themselves.) + +And here is the post that inspired this letter, with much credit to the author [u/Lorien6](https://www.reddit.com/u/Lorien6/): [https://www.reddit.com/r/Superstonk/comments/wh7n2r/dtcc\_is\_committing\_securities\_fraud/](https://www.reddit.com/r/Superstonk/comments/wh7n2r/dtcc_is_committing_securities_fraud/) of whom wrote the majority of what is included within the post as below (I’ve simply framed it in a way that’s ready to send). [u/Lorien6](https://www.reddit.com/u/Lorien6/) \- seriously dude, your write up was a pleasure to read. + +Like RC said, “**Ask not what your company can do for you – ask what you can do for your company**.” ^(Ryan also said ")\*\*^(work is so sexy)\*\*^(" and for change to happen, putting the work in matters. And you know, it's sexy.) + +*This isn't limited to the BBC, so if there's another media/news outlet that would benefit from the information as below, please do share links and contacts and I will add them up here!* + +[Adding a picture of DTCC CEO Michael C. Bodson - as an image of Victoria Coren Mitchell is appearing as a thumbnail for this post \(due to a BBC article as below\). For clarifications sake - Victoria is not involved and is a national treasure. Unfortunately, the same cannot be said for Michael C. Bodson \(who is coincidentally also stepping down from his role this month\). ](https://preview.redd.it/6vpse30v94g91.jpg?width=872&format=pjpg&auto=webp&s=a73a93f531ea8d93c811e43090c64c059cebabad) + +**NB - REMOVING REFERENCE TO THE FC-06 CODE \[AS OF 06/09/22\] DUE TO** [DEBUNK](https://www.reddit.com/r/Superstonk/comments/x6m6za/comment/in7sk4j/?context=3) **BUT MORE EVIDENCE HAS BEEN ADDED IN IT'S PLACE.** + +Dear Sir/Madam. + +**The DTCC has committed international securities fraud.** + +And in keeping with the BBC’s Mission "to act in the public interest, serving all audiences through the provision of impartial, high-quality and distinctive output and services which inform, educate and entertain" (as stated here: [https://www.bbc.com/aboutthebbc/governance/mission](https://www.bbc.com/aboutthebbc/governance/mission)**)** and focusing on the importance of the BBC’s role in to serve and **“provide impartial news and information to help people understand and engage with the world around them”** I am forwarding the below to ensure that the BBC is using their position as a publicly funded corporation to impart accuracy in the content they deliver and the truth surrounding the issues as evident within the American securities market, of which UK shareholders are directly impacted. + +Please note that this correspondence will act as a matter of record - to demonstrate that your organisation was provided information as pertaining to issues surrounding international securities fraud, and thus as a news source outlet, your editorial responsibility to report the truth is essential and a refusal to do so for any reason, will have far reaching implications (for not only those who hold affected securities) in which will create a basis for further investigation later down the line. + +Please read as below: + +I have evidence to believe that the DTCC has committed securities fraud on the ticker GME (GameStop) which is diluting the value of shares held by institutional and retail investors around the globe. + +Here is a very short article on Medium: [https://medium.com/@cuitlahuacpinedayouniss/has-the-dtc-failed-to-deliver-gamestops-dividends-25860d01d1f8](https://medium.com/@cuitlahuacpinedayouniss/has-the-dtc-failed-to-deliver-gamestops-dividends-25860d01d1f8) which aims to not only provide context as a basis for this letter - but shows there exists extensive evidence demonstrating that many brokerages around the world were informed by the DTC, who are the custodians of these securities, to issue shares on behalf of GameStop in a manner that was fraudulent and against the wishes of the company. + +The Depository Trust and Clearing Corporation (DTCC) is a financial services company that provides clearing and settlement services for the financial markets and settles most securities transactions in the U.S. DTCC's subsidiary, The Depository Trust Company (DTC) provides securities movements for NSCC's net settlements, and settlement for institutional trades (which typically involve money and securities transfers). + +Being such an essential functioning key participator within the American Financial Markets, it struck me as odd that instead of filing the correct form needed to carry out the split-dividend as was issued by the company (a statement as provided by GameStop to clarify the nature of the request as was issued 05/08/22: [https://news.gamestop.com/stock-split/?n](https://news.gamestop.com/stock-split/?n)) the DTC told brokerages in the US, and internationally, to split the GME shares into four, rather than issue dividend shares as per the corporate action described in GameStop's 8-K filing. + +Here in this form, you can also see the process type was listed as 'stock split' and not dividend, as was instructed: [https://www.reddit.com/r/Superstonk/comments/wf9mos/dtcc\_form\_for\_gme\_splividend\_from\_dnb/](https://www.reddit.com/r/Superstonk/comments/wf9mos/dtcc_form_for_gme_splividend_from_dnb/) + +It should also be noted that this should have been performed under the DVSE ISO code but, again, wasn't. Further discussion and evidence to support these claims can be found here: [https://www.reddit.com/r/Superstonk/comments/x5eshu/everyone\_keeps\_asking\_for\_proof\_of\_the\_fraud\_by/](https://www.reddit.com/r/Superstonk/comments/x5eshu/everyone_keeps_asking_for_proof_of_the_fraud_by/) + +The DTC instruction also specified ISO-15022 code SPLF (Forward Split) rather than DVSE (Stock Dividend) so cannot be excused an US Imperial/Metric cause of mistake. See: [https://www.iso20022.org/15022/uhb/mt564-5-field-22f.htm](https://www.iso20022.org/15022/uhb/mt564-5-field-22f.htm) + +And here is the Securities Fraud law broken by the DTCC. Securities and Commodities Fraud 18 U.S. Code Statute 1348: [https://www.reddit.com/r/Superstonk/comments/x5sgk2/here\_is\_the\_securities\_fraud\_law\_broken\_by\_the/](https://www.reddit.com/r/Superstonk/comments/x5sgk2/here_is_the_securities_fraud_law_broken_by_the/) + +So this begs the question: **Why can’t the DTC deliver the product they are custodians of?** + +Canada's own CDS (The Canadian Depository for Securities Limited) has stated that the DTC advised them to split the shares rather than distribute new dividend shares. The GameStop 8-K filing, dated July 6, 2022 states that the 4-1 split is to be issued "in the form of a stock dividend." Reference: [https://news.gamestop.com/node/19826/html](https://news.gamestop.com/node/19826/html) + +In Germany the same thing is occurring and the Bafin (essentially the securities exchange police), have confirmed that GameStop dividend shares are incorrectly booked in Germany. Reference: [https://www.bafin.de/SharedDocs/Veroeffentlichungen/DE/Meldung/2022/meldung\_2022\_08\_02\_gamestop.html;jsessionid=6718D126425080BD1AD3C6C26C55F6A3.1\_cid502](https://www.bafin.de/SharedDocs/Veroeffentlichungen/DE/Meldung/2022/meldung_2022_08_02_gamestop.html;jsessionid=6718D126425080BD1AD3C6C26C55F6A3.1_cid502) + +The same reports are emerging at a concerning rate from as far reaching as Korea, Hong Kong, Switzerland, Cyprus and many other countries around the globe. + +Reports out of Korea are stating that their International Equities Team along with their Depository Leader and Counselor will be making a statement on this situation shortly. This is all further evidence that naked shares (otherwise known as synthetic shares or counterfeit shares) have been issued en masse to retail investors around the globe. For your reference, Naked shorting is the illegal practice of short selling shares that have not been affirmatively determined to exist. + +This should be front page on every newspaper around the world and now that this information is in your capable hands, I trust you will do all that you can in your endeavours to investigate this further for the sake of ensuring that the public are well informed and protected in light of potentially criminal activities. + +Thank you, + +Additional reading: + +1. [https://www.reddit.com/r/Superstonk/comments/wg2e7j/beyond\_the\_wool\_the\_smoking\_gun\_and\_how\_the\_dtcc/](https://www.reddit.com/r/Superstonk/comments/wg2e7j/beyond_the_wool_the_smoking_gun_and_how_the_dtcc/) +2. [https://twitter.com/dlauer/status/1554128249638330369](https://twitter.com/dlauer/status/1554128249638330369) +3. [https://www.reddit.com/r/Superstonk/comments/whu9dm/we\_having\_fun\_yet/](https://www.reddit.com/r/Superstonk/comments/whu9dm/we_having_fun_yet/) +4. [https://www.reddit.com/r/Superstonk/comments/wg19eg/korean\_apes\_havent\_received\_their\_dividend\_ksd/?context=3](https://www.reddit.com/r/Superstonk/comments/wg19eg/korean_apes_havent_received_their_dividend_ksd/?context=3) + +**EDIT**: For full transparency, have changed some instances of DTCC to DTC (Depository Trust Company). As rightfully flagged by u/Clinticus_d_Dogeman “May seem like semantics however they are two different entities and the DTC is whom shares were allotted to.” + +I appreciate the input from this community and thank them for their contribution and insight. + +[It seems we've made a splash folks - and to all journalist coming here for the first time, welcome. Are you going to be the one to break this story first?](https://preview.redd.it/woy9bt62d6g91.png?width=2142&format=png&auto=webp&s=01d882c62618c873b5ecaa602b71e8e52441e66d) + +**EDIT**: Loving all the feedback! A lot of suggested contacts, so going to link them as below. For the record, I haven't verified all of these and ask only that you suggest contact details of those whose information is already publicly available. No personal info or harassment, these people have lives too: + +* [guardian.letters@theguardian.com](mailto:guardian.letters@theguardian.com) (goes to the editor) +* [observer.letters@observer.co.uk](mailto:observer.letters@observer.co.uk) (goes to the editor) +* [financial@theguardian.com](mailto:financial@theguardian.com) +* Consumer investigative column in weekly Money section [consumer.champions@theguardian.com](mailto:consumer.champions@theguardian.com) +* International news desk: [international@theguardian.com](mailto:international@theguardian.com) + +To find your local MP (in the UK) - you can do this here: [https://members.parliament.uk/members/Commons](https://members.parliament.uk/members/Commons) + +To find your state representative (US) - you can do this here: [https://www.house.gov/representatives/find-your-representative](https://www.house.gov/representatives/find-your-representative) + +[u/Born\_Gain\_817](https://www.reddit.com/user/Born_Gain_817/) \- "Here is another resource we could use to send information to: [https://www.icij.org/leak/](https://www.icij.org/leak/)" + +[u/BSW18](https://www.reddit.com/user/BSW18/) \- "The most vocal media are Indian media outlets. If you have seen recent war coverage then you probably know it. Additionally they keep repeating same news over and over so many times: + +* Arnab Goswami at Republic TV +* AAJTAK 24 HOUR NEWS +* ZEE BUSINESS NEWS +* NDTV +* PALKI AT WION TV +* INDIA TODAY" + +u/LuminoHK \- "I am a Hong Kong Ape, and gather some contact of some financial magazine here:" + +* [eugene.tang@scmp.com](mailto:eugene.tang@scmp.com) +* [letters@scmp.com](mailto:letters@scmp.com) +* [info@hket.com](mailto:info@hket.com) +* [imktg@hket.com](mailto:imktg@hket.com) +* [content@nmg.com.hk](mailto:content@nmg.com.hk) +* [enquiry@nmg.com.hk](mailto:enquiry@nmg.com.hk) + +[u/Sweetgirl\_j](https://www.reddit.com/user/Sweetgirl_j/) \- "I’m wondering about Amy Goodman and the team at Democracy Now on NPR. They always give the little guy a shot and they have very good following. I’ve seen them cover tiny protests in upstate Troy because fans requested it: [https://www.democracynow.org/contact](https://www.democracynow.org/contact) + +Twitter: [https://twitter.com/democracynow?s=21&t=0a5GzajmT9yxFVq8BRIpnw](https://twitter.com/democracynow?s=21&t=0a5GzajmT9yxFVq8BRIpnw) + +[u/Conscious\_Student](https://www.reddit.com/user/Conscious_Student_37/) \- "You can also direct submissions to [www.sec.gov/tcr](http://www.sec.gov/tcr) \- that’s where the DOJ directs reports of securities fraud." + +[u/xiodeman](https://www.reddit.com/user/xiodeman/) \- "For 60 Minutes - [investigates@cbsnews.com](mailto:investigates@cbsnews.com) and phone/Signal (212) 975-7171" + +[u/Squirrel\_Inner](https://www.reddit.com/user/Squirrel_Inner/) \- + +* [Investigations@npr.org](mailto:Investigations@npr.org) +* [nytnews@nytimes.com](mailto:nytnews@nytimes.com) +* [tips@rollingstone.com](mailto:tips@rollingstone.com) +* [evening@cbsnews.com](mailto:evening@cbsnews.com) +* [weekend@cbsnews.com](mailto:weekend@cbsnews.com), +* [mediarelations@ap.org](mailto:mediarelations@ap.org) +* [https://network.aljazeera.net/contact-us](https://network.aljazeera.net/contact-us) +* [https://www.pbs.org/publiceditor/feedback/](https://www.pbs.org/publiceditor/feedback/) +* [https://www.reuters.com/info-pages/contact-us/](https://www.reuters.com/info-pages/contact-us/) + +[u/Acceptable\_Car\_1145](https://www.reddit.com/user/Acceptable_Car_1145/) \- "Be nice, these people are professionals" Agreed. + +Sky News: [news.plan@sky.uk](mailto:news.plan@sky.uk) / [news@skynews.com](mailto:news@skynews.com) / [Kay.burley@sky.uk](mailto:Kay.burley@sky.uk) / [Mark.Kleinman@sky.uk](mailto:Mark.Kleinman@sky.uk) \- Sky News Financial Correspondent + +Any other sky presenters or journalists use the same email template [name.surname@sky.uk](mailto:name.surname@sky.uk) + +[u/TheArmoursmith](https://www.reddit.com/user/TheArmoursmith/) \- "UK financial markets are heavily regulated. It would be more effective to report to the Financial Conduct Authority: [https://www.fca.org.uk/](https://www.fca.org.uk/) Specifically: [https://www.fca.org.uk/markets/market-abuse/how-report-suspected-market-abuse-individual](https://www.fca.org.uk/markets/market-abuse/how-report-suspected-market-abuse-individual) If you've bought shares through a UK broker, they are regulated by the FCA" + +[u/4GIVEANFORGET](https://www.reddit.com/user/4GIVEANFORGET/) \- "Twitter accounts for large public radio stations mostly in US and a couple other news outlets" + +@ pns\_news / @ underground\_for / @ silencedmedia / @ akpublicnews / @ wknofm / @ wwno / @ wync /@ 917wvxu / @ coloradosun / @ mpr / @ nsprnews / @ michiganradio / @ kiosomaha / @ kchuradio / @ wpln / @ ksut / @ COpublicradio / @ freepublicradio / @ npr + +[u/Uranus\_Hz](https://www.reddit.com/user/Uranus_Hz/) \- "HOW TO CONTACT YOUR STATE/PROVINCE SECURITIES REGULATOR:" For the US, Canada & Mexico: [https://www.nasaa.org/contact-your-regulator/](https://www.nasaa.org/contact-your-regulator/) + +............................................................................................................................................................................. + +**EDIT**: Providing evidence for the purposes of accountability to demonstrate that any number of main stream media entities, particularly those as listed below, cannot deny being in prior knowledge of these events after the fact - and to use plausible deniability as reason not to fulfil their obligation as a trusted platform to report the truth as news to the public. + +[CREDIT: https:\/\/www.reddit.com\/r\/Superstonk\/comments\/whupfa\/we\_cant\_let\_them\_plug\_their\_ears\/?utm\_source=share&utm\_medium=web2x&context=3](https://preview.redd.it/yv0cvwfj2kg91.png?width=272&format=png&auto=webp&s=987b440eaf9e22f1a7ffb8ed5d2d0ec438d40e93) + +[CREDIT: https:\/\/www.reddit.com\/r\/Superstonk\/comments\/whonr3\/im\_doing\_my\_part\/?utm\_source=share&utm\_medium=web2x&context=3](https://preview.redd.it/ny5qb7003kg91.jpg?width=640&format=pjpg&auto=webp&s=f2d554bf934478073d631061489ac4737d53308b) +Title says it all. Belarus has 25.2 Gini coefficient according to the World bank. This is better than Norway Belgium Finland and more. How could this be possible +My sister is an IT executive at JPMorgan. Extremely smart and been working there for 8+ years. She was kind enough to help me make my portfolio. + +Here’s my ETF breakdown for a 29 year old with long term growth in mind. + +VTI = 35% + +FDIS = 20% + +FTEC = 15% + +VUG = 15% + +SMH = 5% + +FIW = 5% + +VHT = 5% + +This puts my Top 10 holdings at about: + +5% Apple + +5% Microsoft + +5% Tesla + +3% Nvidia + +2% Home Depot + +2% Taiwan Semi-conductor + +1% Alphabet + +1% ASML + +1% Texas Instruments + +0.97% Broadcom + +Do with info as you want :) + +EDIT: Great suggestion. Changing XLY to FDIS. +I work at a bank in Bangladesh and the work conditions at my workplace is downright bad and unethical. + + + I wanted to analyze it using Economics methodology/tools but people keep telling me that its just not possible. That you cannot use Economics to analyze such situations. And that its disciplines like Organizational Behavior that can only make sense of this. + +Can someone explain why Economics cannot be used to analyze work conditions? +Hi gang. + +&#x200B; + +We have seen a volatile market this week on the back of the [EverGrande](https://en.wikipedia.org/wiki/Evergrande_Group) saga. + +&#x200B; + +It's actually not a new issue, it was reported in the [Financial Times](https://www.ft.com/content/f655ba5f-7a69-4927-b2b0-355dfb666398) that there was speculation regarding them seeking financial assistance back in September **2020**, but I guess you could say it had a spike this week and as a result our little backwater **ASX** has been impacted. + +&#x200B; + +There has been a huge volume of questions in the daily about it, some [great discussion](https://www.reddit.com/r/ASX_Bets/comments/prhkkn/comment/hdiq4nm/?utm_source=share&utm_medium=web2x&context=3) in a few different posts too. + +&#x200B; + +This post comes off the back of a [comment](https://www.reddit.com/r/ASX_Bets/comments/pt2r4n/comment/hdtn2va/?utm_source=share&utm_medium=web2x&context=3) in the Daily by u/biggunzmcgee, which I'll copy below as a reference to the core statement we are going to discuss. + +&#x200B; + + "*Can someone who's a genuinely experienced trader/investor give their sentiment on future market movements/fallout from the China debacle? I know a few of yous on here are actually very market savvy, more so than most of us. Would like to hear what your plans are''* + +&#x200B; + +The purpose here is to air and debate your views and opinions on the following statements: + +&#x200B; + +\- How does the current Evergrande situation **impact the Market** + +&#x200B; + +\- What is your view on the broader situation in China that Evergrande has highlighted and how does that **impact Market sentiment** + +&#x200B; + +\- What is your view on the future impacts of this or other catalysts to invoke the fabled [Bear Market](https://www.investopedia.com/terms/b/bearmarket.asp)? + +&#x200B; + +&#x200B; + +Alternatively, if you have a question and it runs something along the lines of: + +''*What the fuck does a Development Group in China have to do with my speccie African miner/My highly speculative bio tech in wherever/My dildo producing exploration company*'' + + then the discussion below will hopefully go some way towards explaining that. + +&#x200B; + +**Read the Flair.** + +&#x200B; + +This is a Legitimate Discussion on an issue that impacts anyone invested in the Markets. + +&#x200B; + +We welcome conflicting views as the more context placed into the situation, the better holistic grasp you are able to develop. + +&#x200B; + +Here at r/ASX_Bets, we love YOLO's, shit-posts and dank memes. + +&#x200B; + +Occasionally though, we enjoy a good debate and a chance to provide a glimpse into the types of intellect that have more than a singular wrinkle in that ocean of smoothness.... +I will preface this by saying I am not a smart person, I was just determined to make the most out of a shitty situation. I got promoted from quality control to floor manager (3 promotions). A lot of people have a bad attitude in these jobs. They come in and do the bare minimum. I was determined to make an impact with every person I met. A lot of people there speak Spanish so I did my best to learn Spanish. Duolingo + flash cards gave me the ability to speak in present tense Spanish. Making an effort to learn everyone’s name and at least say hello/good morning or Buenos dias for my Spanish speakers. That paired with learning people’s names is very important. I practiced what I preached, I made it clear verbally that I was there to help. Every time I saw an opportunity to help I would attempt to do so. This is exemplary manager behavior 101. I keep a Google doc running on my computer at almost all time that highlights my daily successes and failures. I used this to find out what my weaknesses were and what I was consistently failing and on what days. Referencing this daily gave me the ability to constantly improve. I used this for anything I was told and like a master profile for everything I had learned. Most importantly I aced the interview. I was only able to do this because I prepared for as much I could. + +Things I realized: if you don’t have an exact answer to a question try to give an answer that’s at least close. They prefaced the third and final interview with “if you don’t have answers don’t feel pressured just skip the question.” I skipped zero questions. + +Know the company values, they asked me what all seven were. I could only list 4, but I was able to point out that these values were listed on a specific shirt. + +Know your metrics or what they will be using to measure you with. I try to ask them questions that are difficult for them to answer. For example, it said I would have “KPI’s” I asked them to list them off. These are key performance indicators. The questions you ask them are a direct indicator of your intelligence and knowledge of the job. + +Smile, be happy, be positive and make jokes. Letting them know you bring a vibrant and uplifting attitude is important. They asked me about a conflict and I gave an example where I was attempting to ask for help with a mirror in Spanish. I accidentally asked a coworker to help me grab his wife instead of mirror as the words are very similar (esposa/espejo) that got a good laugh. + +As far as money goes I’ve burned through my savings after getting laid off. I will be moving back in with my dad rent free to save up as much as I can for the next year or so. This will allow me to put a down payment on a house. I’d like a three bedroom two bathroom so I can rent the two rooms out to pay my mortgage. I currently have a 2016 elantra that I will drive into the ground. I have about 6,000$ in debt that I will pay off also. Once that credit card debt is gone I will buy a PC with it and pay it off immediately (because battlefield 6) + +If you have anymore questions please feel free to ask. I’m on my phone so sorry for formatting and grammar. I creep this forum a lot and it’s helped me so if this helps even one person I’ll be happy! + +Have a great day! +The last year has been a roller coaster: sold a business I spent over a decade building, this sub helped me make fantastic decisions during the M&A process, and the wife decided to cash out a few months later (with her new boyfriend). Now I'm navigating the next chapter and thought I would do a quick update. + +This has been stated over and over, but let me just start this thread by saying... DIVORCE = POOR (this is the only place in the internet where I get to say a NW of <$10 = POOR\[EST RICH PERSON\]). + +Alright, that aside, life lesson learned the hard way: + +* Surprises are never good in marriage, especially if you're FAT and your SO decides to take (half) the money and run. +* Pro-tip: be an adult and make sure the lawyers get as little as possible. +* Stay ALL IN. Had a buddy ask me why I didn't hedge against divorce. That's the one thing I wouldn't change, stay all-in and don't hedge against failure of a marriage. Life was awesome (until it wasn't). + +So let's talk about dropping from properly FAT to FATPoor. + +When you're in your mid-thirties and you have a proper FAT stash saved up (\~$15-20M NW), even if you're still accumulating, working, etc. you can really start to dream big. You can start thinking about the "what am I going to retire TO?" scenario. Maybe you're still living the upper-middle class lifestyle and maxing out the 401K/ROTH (because that's what you DO, even if $30K/year saved no longer really matters)... but you're starting to fly first class, enjoying having a personal banker on speed dial, scoping out a vacation home, and you're not really stressed about any one financial failure (because you're properly diversified and have enough that you can take a few hits and it not really affect your trajectory). + +Now think about your FAT life. All that carefully planned and beautiful spreadsheet exactly mapping the next 60 years of your FATFire life. That debt perfectly crafted, like your Asset Backed Loan / PAL & mortgages. Asset allocation all properly tuned. Crypto accounts. Earn, Borrow, Die planning. Estate planning. DAF Funds. Beautiful tax strategies. + +Carved up into two. Everything broken apart. Joint accounts and joint asset back loans no longer relevant. Come up with a plan to buy your ex-SO out of the things you plan to keep (want the house? gotta pay back out half that equity somehow). Our FAT financial and asset lives are fucking complicated... makes things not simple. But, just like you can take a hit, you realize that some of the little things just don't matter (hopefully) so you can minimize the stupidity and keep as much away from the lawyers as possible. + +So. Yesterday you are living your HNW FAT life. The world is your oyster. $300K/year is <3%. Safe wealth preservation asset allocations. Stock market can crash and you just don't really give a fuck because it's all part of the plan. You have options. + +Today you're half of that. And none of the leverage you used to have. $15M > $7M. Banks love you (a lot) less. Those awesome interest rates you had on mortgages and asset backed loans? Yeah. Not so pretty now. Those loans you got while you still had rockstar earned W2/business income? Yeah... you don't have that now either (maybe). You actually can't sit on 50% gold (/s) while you laugh at CNBC, you've got to get some returns going because, like flying business class, once you know what that >$10M felt like, sitting in coach (even if you know it's the smart decision) is really hard. Oh, it's Q1 2022 and the market is having a fucking identity crisis. + +So what's next? + +You're still fucking rich. That's what I decided. You're not 40 yet. You're healthy. You have $6M in liquid assets, a paper NW of \~$8M, some real estate, and some Private Equity investments (thanks FatFIRE M&A advisors!) that might do something awesome in the future. The sun is shining (somewhere) and you still having FI. + +Go live your best life. + +PS. for those that follow my previous threads, decided to use the asset backed line to pay windfall taxes. Even factoring 7+ rate hikes, an effective interest rate of 2.5-3% seems like free money in the current inflationary environments. Kept leverage <30% with SCHD as primary asset. We'll see how that shakes out with the above narrative now in play. +I know that my family is fortunate and we have weathered the pandemic better than most. I often choose to have food and groceries delivered to my house, so this holiday season I committed to leaving really large tips for the delivery drivers. When I place the order, I enter a normal tip and then after delivery I increase it to at least $50. The work they are doing is not always easy, and I hope I can make someone’s day and contribute to them having a happier holiday season! + +Edit: Thank you for the awards! +The best investments have often been large established companies that are well-known + +Investors have generated great returns by sticking to tried and true blue chips + +Most of the greatest companies are hiding in plain sight +I was chatting about missed opportunities with some semi-retired friends and realized many of us have amusing stories of the one that got away. Luckily, because of other things turned out, we can look back and laugh. I’d love to hear yours! + +My personal two: + +I had a old computer where I’d mined ~500 Bitcoin and then promptly forgot about them because you couldn’t do anything with them. I repurposed the computer to play around with a new release of FreeNAS, not even bothering to backup the (then-worthless) BTC. Oops. + +I bought a Tesla Roadster sport in 2010 and really loved the car (I later traded it in for a model S, which was traded for another). I enjoyed it so much that I considered putting an equivalent amount (~140k) into the newly IPO’d company. I had the trade entered into my browser, but thought a bit more about not investing emotionally, and bought boring VTSAX instead. Oops. + +Of my friends’ stories, the largest missed opportunity was declining an offer to be non-founding engineer #1 (3% equity) at a (current market cap ~40B+) startup. +Not trolling, looking for an honest discussion as I own a LOT of ETF's. It is a CNBC article however I am not going to link to it and have my post taken down by some stupid bot by accident. + +Everything I have read is the best long term approach to investing is low cost index funds. The easiest way I do that is with ETF's. + +My own (limited) argument against his statement is that, this is the new norm for lots of people. I am not sure how he is judging his metrics, but I think there is going to be more volume in ETF's overall compared to 20 years ago when ETF's weren't even a thing. + +Also, I believe that people give a survivorship bias to someone who was correct in the past not only in investing but all aspects of society. Think of how many spam articles are on websites that say "Man who predicted this says the next big thing is this" + +He spotted trouble years, made a crazy bet (at the time) and came out on top. However that does not necessarily mean he is right this time, nor should his opinion somehow be elevated among the field. + +What are you thoughts? +My parents always wanted a nice vacation house to chill on the weekends, but I was too broke to even think about it. + +Fast forward to now, I have enough money to buy one, so went ahead and bought one. + +Anyways, the property is an hour away from the city, and sits on a 10 acre lot. We don't have any neighbors nearby, so it's very peaceful. + +I'm so happy that I could finally fulfill my parents dream. I just can't wait to chill on the weekends with family and friends. +"Income from illegal activities, such as money from dealing illegal drugs, must be included in your income on Schedule 1 (Form 1040), line 21, or on Schedule C (Form 1040) or Schedule C-EZ (Form 1040) if from your self-employment activity" + +https://www.irs.gov/publications/p525 +Recently my wife got a new job and when setting up her 401k I noticed it said her employer match was 25%. I tried looking for the cap but there wasnt any, so I thought this was crazy! She currently doesnt make much money so to max out her 401k she would have to contribute around 40% of her income. But this is obviously way too good to not do it right? Im thinking the right thing to do is convince her to go all in on that 401k. Anyway I was wondering whether this is as rare as I think it is or if its actually fairly common? She works as a health care worker (LVN) +Title cuts to the chase. Received an amazing bonus at work. I’m still comprehending the reality of what happened and what I’ll do with it. After paying off debts and the dust settling, I have around 125k liquid remaining, and am looking for best places to invest it for stable growth. + +After fully wiping away nearly $40,000 in credit card debt (my biggest personal secret shame), and paying off other debts, I’m looking to invest the majority of what’s left. + +Prior to this bonus, I had a brokerage account w/ ~10k in it… a voyager account w/ ~4k in various cryptos, other than that no savings, besides my 401k which I’ve contributed to since my early 20s. + +After wiping my credit card debt, my only debt is a car loan I’m paying on a Lexus I got myself last year, less than $8,000, loan only $150 per month note. I may just pay it off? + +I rent my apartment, at some point I’ll likely use a big piece of this 120k on a down payment for property, but that won’t be for at least 9-15 months, so I’m looking for ideas on where to invest this for stable growth. Appreciate any ideas or help +Ok, the FED has spoken: + +[https://www.cnbc.com/2021/12/15/fed-will-aggressively-dial-back-its-monthly-bond-buying-sees-three-rate-hikes-next-year.html](https://www.cnbc.com/2021/12/15/fed-will-aggressively-dial-back-its-monthly-bond-buying-sees-three-rate-hikes-next-year.html) + +If I understand it correctly, the FED currently has 6.3 Trillion dollars out in the market. + +Adding another 12x60 Billion next year would increase that by 11%, right? + +Does that mean we can expect prices to go up another 11%? +My brother and wife are new to Stock investing and want to start with building sound fundamentals. I gave Graham's "Intelligent Investor" to them. My wife read five-odd pages and never opened it again. My brother didn't bother even opening it (looking at its thickness). + +How to get impatient learners to start with the fundamentals of Value Investing? +Mid-30s, male, formerly in tech who has been on a sabbatical for 5 years. My Nw hovers around 10M & spend about 70-80k a year. + +I traveled the world, did the digital nomad lifestyle before the pandemic, and I’m now quite bored and stressed out. + +I feel like I’m wasting my time and life by taking it too leisurely so soon. I need new excitement and terrors (or just general zest or feel for life) but trading and this comfortable means has given me a case of hilarious brainworms where I don’t feel inclined to work for someone for cheap) I’m finding myself quite unhappy and think I can and should be doing more + +Those who have experienced the same ennui & malaise of sabbatical or retirement, how did your get your groove back? I’ve been looking at therapy but frankly I’ve not had the best luck with ones off psychology today listings. + +Granted, my location in the South doesn’t lend to great choices but I desperately need to claw out of this funk. I feel like I’m daydreaming/sleepwalking through life + +------------------------------------ +EDIT + +Yes, I've given thought to purpose a lot: starting a family, and continually getting in better shape (I've been in competitive shape all my life and pursued that fully in the past 5 years. it was great but it's not enough- I am in the process of building a tribe) + +I don't want YOUR life advice. You don't know me, what I've done or what work I'm putting in daily. You're also likely unqualified. I would very much like to hear how you got it back together or how you found appropriate professional resources. + +Please do not dm about how I got here. We can do that elsewhere +I don't really understand why the price of an asset almost always immediately changes when I enter a position ? I can't help it but it always feels like there's someone behind the whole thing who deliberately changes the course of the price action after the majority of people opened positions only to rip people off. Could that be true? +I watched a few of his videos. While they are perfectly crafted for a beginner type video and are not necessarily hyped or something, I just cannot seem to feel he is disingenuous (as are most influencers). + +Does anyone else get a similar feeling. I am asking here because he seems to be quite an influential Youtuber of the investment community so it matters. +**TL;DR: MSM has continually reported on Melvin Capital's closure due to poor performance. MSM seems to want to push a hard narrative that Melvin are doing really bad, however, the other funds from Melvin capital actually show otherwise...Their brochure also shows a much high AUM than reported.** + +&#x200B; + +# LOOK WHAT I GOT MY HANDS ON... + +&#x200B; + +https://preview.redd.it/g0eikje28ov81.png?width=1458&format=png&auto=webp&s=1a38d24414097fc418a56383074f624d0b49e005 + +&#x200B; + +# [SAUCE.](https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=755016) This has EVERYTHING to do how Melvin charges fees etc. I need eyes... + +***We're gonna come back to this I promise...*** + +&#x200B; + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +&#x200B; + +***We've all seen this...*** + +&#x200B; + +https://preview.redd.it/9fsz40wj2ov81.png?width=1279&format=png&auto=webp&s=d5e8d000c2a9b73a88e0a201e70d3df0280b982f + +&#x200B; + +**Notice the reduction from $8.7 billion to $5 billion? Melvin has ALWAYS held more than this. In fact, it is reported to the SEC and from themselves, the entire Melvin network actually manages...** + +&#x200B; + +&#x200B; + +https://preview.redd.it/x208d84h7ov81.png?width=1219&format=png&auto=webp&s=0269c2f18fed07fec32ca77ffecaf0052ed85211 + +**Granted, it's been four months since then...but the inaccurate reporting tries to keep our eyes away from their other partner funds.** + +&#x200B; + +&#x200B; + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +&#x200B; + +# Did Melvin just report that they're still in the hole for GME? + +So we know they have around $21 billion in AUM (assets under management). Well they legally have to break this down into how and where...only by percentages. + +&#x200B; + +https://preview.redd.it/nj2xnj4vbov81.png?width=1936&format=png&auto=webp&s=24cd4925191f0de7a9abde8ba9d89d635cfa43fa + +Notice the $3 billion in *"Corporations or other businesses not listed above".* Well that is $3 billion that is **NOT** in any of Melvin's other funds... so where is it?... + +&#x200B; + +&#x200B; + +https://preview.redd.it/oh0zurifcov81.png?width=2014&format=png&auto=webp&s=bbc98c30b0f82cce25c678a0ac27173c39498c86 + +So its a separately managed client account....hmm...break it down more... + +&#x200B; + +&#x200B; + +https://preview.redd.it/y90m8bmtcov81.png?width=1998&format=png&auto=webp&s=6c48759ba80cbfe482ab73ac7b751e1fec9410f9 + +# HOT DAMN, Melvin holds a $2 billion bag of borrowing...in what you ask? EQUITY SECURITES... + +&#x200B; + +https://preview.redd.it/yy759si6dov81.png?width=1943&format=png&auto=webp&s=6445c4cc8a745cb71f805d75d419692522a50ef3 + +**And just so you know, Goldman and Morgan Stanley hold the bag...** + +# + +https://preview.redd.it/9e4bkn9ndov81.png?width=2032&format=png&auto=webp&s=65d6e123076a17a804e470f98586608bd1a33ff8 + +# Insert meme here.... + +&#x200B; + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +# + +# Key points from the broshureeeee + +&#x200B; + +[Remember these 'long only' funds...](https://preview.redd.it/71mg86js8ov81.png?width=1435&format=png&auto=webp&s=1e088dd02a9fab2125a8cda0650b146b7ce1583a) + +&#x200B; + +&#x200B; + +https://preview.redd.it/6dwhr3ba9ov81.png?width=1114&format=png&auto=webp&s=fc2e94c47474550c8f4ef5c1da26a73c892427cb + +**THEY BUY SHILLS.** + +&#x200B; + +&#x200B; + +https://preview.redd.it/try20jkt9ov81.png?width=1144&format=png&auto=webp&s=4721c40feb26711a60d8a5531248958d6aed8356 + +# STILL TALKING ABOUT SHORT SQUEEZE BABY. + +&#x200B; + +Love you all. + +&#x200B; + +Punny out. +Genuine question, not taking sides either way. Just want to understand the rise of anti-landlord sentiment on these forums and in Australian culture in general. I'm just looking for a neutral explanation for this as I do not remember seeing this 10-15 years ago when I was younger nearly to the same degree. +Basically the liberals want to introduce another type of TFSA but this one can only be used for a down payment on a home and will have the same contribution limits as a TFSA. Why not just expand the TFSA or double the contribution amount? +So you know those 'worthless' 0.5$ 148,426 puts that are expiring on July 16? I may know exactly who owns those: + +https://i.imgur.com/DSeM04L.png + +So we know our friend Shitadel has 3,271,400 shares in puts on GME or **32714** in option contracts from their latest 13F filing: + +https://i.imgur.com/elgrTIK.png + + +We also know that Susquehanna has 6,151,100 shares in puts on GME or **61511** in option contracts from their latest 13F filing: + +https://i.imgur.com/NzoM02s.png + +Hmm....so at this point we have 32714 + 61511 = 94225 in option contracts. + +Now I was wondering what our old friend was up to before they hid their 13F filings: + +https://preview.redd.it/bqv61hbyj8261.png?width=1536&format=png&auto=webp&s=d1c222b8b146ae8a94fabe5b01eade4a42b33e03 + +MELVIN CAPITAL with 5,400,000 in GME puts or **54000** in option contracts for **July 16th.** + +Now at this point I was like: "no way this matches exactly or close by". + +32714 + 61511 + 54000 = **148,225** in OPTION CONTRACTS COMBINED. + +Remember how those motherfuckers said they closed their public put positions? + +https://markets.businessinsider.com/news/stocks/melvin-capital-closes-out-public-short-positions-after-gamestop-losses-2021-5-1030447490 + +EDIT: +To clarify - Melvin's 13F with 15$ strike is the last one from last year that revealed their position. + +They can roll them down and change the price: + +https://www.investopedia.com/terms/r/rolldown.asp + +EDIT2: +Just so everybody knows - this might not have anything to do with the short positions. We can only speculate on those because they aren't public. But yes we can assume since they still have shitload of puts they also have massive short positions. +[https://www.wsj.com/articles/biden-budget-said-to-assume-capital-gains-tax-rate-increase-started-in-late-april-11622127432](https://www.wsj.com/articles/biden-budget-said-to-assume-capital-gains-tax-rate-increase-started-in-late-april-11622127432) + +President Biden’s budget assumes that his proposed capital-gains tax rate increase took effect in late April, meaning it would be too late for high-income investors to realize gains at the lower tax rates if Congress agrees. + +\---- + +WASHINGTON—President Biden’s expected $6 trillion budget assumes that his proposed capital-gains tax rate increase took effect in late April, meaning that it would already be too late for high-income investors to realize gains at the lower tax rates if Congress agrees, according to two people familiar with the proposal. + +Mr. Biden’s plan would raise the top tax rate on capital gains to 43.4% from 23.8% for households with income over $1 million. He would also change the tax rules for unrealized capital gains held until death. + +The effective date for the capital-gains tax rate increase would be tied to Mr. Biden’s announcement of the tax increase as part of [his American Families Plan](https://www.wsj.com/articles/biden-to-propose-1-8-trillion-plan-aimed-at-families-tax-hikes-for-wealthiest-americans-11619600400?mod=article_inline), which includes an expanded child tax credit and funding for preschool and community college. He detailed the plan April 28, and the budget will be released Friday. White House spokespeople didn’t immediately comment. + +Congress must still approve any rate changes and retroactive effective dates, and there is already wariness about the full capital-gains tax plan building among some congressional Democrats. + +Some, such as Sen. Mark Warner (D., Va.), have said they want to maintain a lower tax rate for capital gains than for ordinary income. And lawmakers from farm states, including Sen. Jon Tester (D., Mont.) and Rep. Cindy Axne (D., Iowa) have objected to the changes on capital gains at death. + +[The administration’s budget](https://www.wsj.com/articles/bidens-budget-what-to-expect-and-what-it-means-11622115982?mod=article_inline) will call for about $6 trillion in spending in fiscal 2022, people familiar with the plan said. It will detail the proposals Mr. Biden has already laid out in his infrastructure and family-aid plans over the past few months. The budget is unlikely to include other major policies beyond what has been included in plans so far this year. + +The administration has generally been trying to avoid imposing retroactive tax increases, and many of its proposals would take effect in 2022. But capital gains are different, because the rate increase is so significant, and because taxpayers have so much control over when they report income. A White House official had previously said that the effective date would be designed with Congress to prevent taxpayers from taking advantage of any gap before the tax increase started. + +There is a long history of taxpayers accelerating capital gains before tax increases take effect. [Capital-gains realizations jumped](https://www.taxpolicycenter.org/sites/default/files/publication/138266/2001148-the-bunching-of-capital-gains-realizations.pdf) 60% in 1986 and 40% in 2012 before tax increases took effect, according to the Tax Policy Center, a project of the Urban Institute and Brookings Institution. + +Capital gains are concentrated among very-high-income households, and Mr. Biden has focused on them as a way to raise money for his plans and to combat income inequality. + +The rate increase and the changes to the treatment of gains at death are tied together. + +Currently, people who die with unrealized gains don’t pay any income taxes. Their heirs pay only when they sell and only on any gains since the prior owner’s death. That gives people an incentive to hold on to appreciated assets. + +The Biden proposal would apply income taxes to those unrealized gains at death. It would have a $1 million per-person exemption, plus existing exclusions for gains on principal residences. Family-owned farms and businesses would get special rules that would defer their taxes as long as they own and operate the businesses. + +Taxing capital gains at death is different from the estate tax, which is based on net worth and currently has an exemption of $11.7 million per person. The administration hasn’t proposed any changes to that tax. + +*—Alex Leary contributed to this article.* +I took over my portfolio in May of 2020 with $264k and BTFD all summer into fall. I saw the unicorn market was weak in October and began transitioning to a dividend portfolio. I refuse to hold dead stock (and I categorize KO T and IBM as that). I now have $372k invested and am a few hundred dollars short $20k a year in dividends and should have 10% growth on top of that. I have some dry powder to get me to my goal over the next 30 days. It's been a challenge to get here, but I've enjoyed the journey. Shout out to Tesla and they fat gains I made there. I no longer own any stock that doesn't pay a dividend. I have no dividend traps and I didn't chase yield. I do own a few CEFs and some ETFs. This market gave me the chance to start my own business so I can work from home and I hope this portfolio allows me to retire early. My goal now is to increase my dividends by $5k every year for the next 5 years. Good luck to those just starting out! +Hi /r/Bitcoin! + +You might've heard of PTSD. It's a debilitating illness usually affecting people who are _already_ victims, like sexual assault survivors who still suffer and are tormented every day since. Not only do they experience traumatic flashbacks, even sleep is no relief thanks to serious nightmares. It is life threatening. + +Existing treatment for PTSD aren't great. Therapy can be helpful, but they're often not enough, especially for severe PTSD. There are only two drugs approved by the FDA: SSRIs like Zoloft and Paxil. Those drugs must be taken continuously, and can cause serious side effects. Mania, seizures, inability to orgasm, and suicide are known side effects. + +In 1986, a nonprofit named MAPS was started to develop legal contexts for beneficial uses of psychedelics and marijuana. 31 years later, MAPS has found its most promising candidate yet: MDMA-assisted psychotherapy as a treatment for PTSD. + +# The numbers: 68% (MDMA) versus 25% (placebo) + +They've already conducted Phase 2 studies in the US, Canada, Israel, and Switzerland. After a comprehensive therapeutic process involving preparatory sessions, MDMA-assisted therapy sessions, and non-drug therapy sessions, **61% no longer met the criteria for PTSD**. This improved to **68%** after a year. Of those who met the criteria, many experienced significant reductions in symptoms. This is compared to only 25% for the placebo group, who received all the therapy, but with a sugar pill instead of MDMA. + +For most people, the benefits are lasting. MAPS conducted one long-term outcome study, evaluating patients ~3.5 years after the last MDMA-assisted sessions. Average benefits even increased slightly over time. + +> "The MDMA sessions were the first time I'd ever felt love for myself. It was the first time I'd ever felt happy. I hugged my therapist and said 'Thank you.'" + +After MAPS' studies, the FDA granted ['Breakthrough Therapy Designation'](https://www.maps.org/news/media/6786-press-release-fda-grants-breakthrough-therapy-designation-for-mdma-assisted-psychotherapy-for-ptsd,-agrees-on-special-protocol-assessment-for-phase-3-trials) to MDMA-assisted psychotherapy. + +Now they need to conduct Phase 3 trials, which are far costlier due to requirements for an increased sample size, groups, etc, even through the stage with highest failure rates (Phase 2) is already over. MAPS has achieved the extra-ordinary journey of bringing MDMA-assisted psychotherapy all the way to Phase 3; a drug that pharmas will never touch because it will disrupt their recurring revenue streams of SSRIs. + +# Phase 3 + +Phase 3 will cost about $25 million. They've raised $17 million already ($1 mil from PF included), and need another $8 million to get to the finish line. + +I have never donated to MAPS (or even heard of them) before starting the Pineapple Fund. PF donated $1 million, and that inspired another anonymous donator to **give another $1 million** in bitcoin. To whoever you are, you're amazing, and you are inspiring. <3 + +**I believe we, the cryptocurrency community, can fully fund Phase 3 trials**. Prescription MDMA could be a gift to this world from the bitcoin community. + +If the trial succeeds, it could be approved as early as 2021. MAPS has created a public benefit corporation, fully owned by the non-profit, that would sell MDMA post-approval. This is a scalable and **financially sustainable** structure that could kickstart a renaissance in research into the therapeutic applications of many different psychedelics. + +**Pineapple Fund will double the value of every donation to MAPS** from today until March 10th, up to $4 million. + +You can donate with bitcoin. It's like donating bitcoin for $30,000 each! + +http://www.maps.org/donate-redirect/cryptocurrency + +You can also donate with legacy payment systems like [credit cards or PayPal](https://store.maps.org/np/clients/maps/donation.jsp?campaign=103), and PF will also match that donation. + +Your donations are tax deductible (if you're a US taxpayer), and you don't even have to pay capital gains tax. Ask for a receipt if so. + +Let's make MDMA medicine a reality, and give the gift of an enjoyable life to those suffering from PTSD. If you believe that psychedelic drugs can have incredible therapeutic potential, then I believe this is one of the highest impact projects today. + +And let's do it with cryptocurrency :) +US total market cap as % of GDP is much higher compared to the rest of the world. This number is currently at 150% compared to 120% for Japan, 100% UK and only around 60% for Eurozone. The gap has narrowed over the last few months (US was at 200%), but remains well above historical averages. USD also appreciated by 20% against most other currencies during this period making other markets cheaper. + +Now there are good reasons why these markets have a lower valuation. Namely slower growth and demographics. But at the same time I think it more than compensates by being cheaper. + +Consider the Eurozone which is almost 3x cheaper. Structural issues, high debt, Russia conflict. But the countries are working on structural improvements and integration. With the UK gone it will be much easier. Japan has the demographics issue and high debt too. However, yen is currently at a 24 year low, there is no inflation and a massive structural opportunity for higher labour participation and foreign investment. These are areas that the government is working on. + +Let's go a bit further and consider some emerging markets. My two favourites are Poland and Indonesia. + +Poland is roughly the size of Spain in terms of population and size, and has a third of its debt. It has one of the best growth prospects in the EU. Excellent geographic location close to the centre. A bridge between east and west. Will massively benefit from the coming integration of Ukraine. However, the total market cap of all public companies there is $180bn. That is roughly the market cap of Adobe. Spain in comparison has a market cap of $800bn. + +Indonesia has a market cap of around $400bn which is the size of Nvidia and smaller than Tesla. This is a country with a population almost the same size as the US. Has a huge young working age population that will continue to grow over the next decade fuelling consumption. The country is growing at 5-6% a year. It is arguably becoming one of the next large, low-cost manufacturing centres with many companies abandoning China. + +TLDR: US is expensive and its dominance may not last forever. You would be wise to diversify into the currently cheap global markets. Please due your own DD. +The purpose is to MAKE AS MUCH MONEY as you can. + +Sometimes this entails charging as much as you possibly can. Other times—more often than some people here think—it doesn’t. + +It is easy to overlook that. To many people, “market rate” really means “the highest amount that will still get you a tenant in your preferred timeframe.” Sometimes going all the way up to “market rate” rent is not your friend—particularly if you want your choice of tenant. + +I’ve also seen plenty of people say things like “it’s not my job to be liked.” That attitude is dead wrong. Counterparties are MUCH less likely to screw each other if they have a good relationship with each other. Do you want your tenant to take extra special care of your property? Then don’t behave in a way that makes your tenant think “fuck that guy.” + +A landlord-tenant relationship is exactly that, a relationship. It’s not a one-time transaction like buying a used car. Don’t be the landlord that everyone compares to a used car salesman: you will wind up with a lot of turnover, vacancy instead of revenue, property damage, legal disputes, and a whole lot more. Time is money. + +All of this subject to your individual circumstances, including applicable law, of course. But plenty of people need to know that pushing the limit because “that’s just how a business is run!!!” is ignorant and amateurish. +I calculate that it has cost me 50K worth of potential gains on other securities by tying up my investment capital in GME and NOT SELLING to buy back in lower. So many plays that would have made me loads of money. + +And you know what? That's fine by me! Why? Because I trust the board. Most of all, I trust the CHAIRMAN. I trust that they realize and appreciate the immense sacrifices that each individual investor has made to help resurrect GameStop from the ashes, for the BILLIONS of dollars in capital that investors helped to raise when they needed it most. For all the late night/early morning lineups at "dying brick and mortar" retail outlets, for all of the inventory flying off shelves. + +But most of all, FOR HODLING THE FUCKING LINE! + +Dreams of MOASS may have brought many of you here, but I'm of the opinion that without a decent moral compass and a slight bit of conviction, you wouldn't have held this long, and through this much bullshit. And I think that goes for Ryan Cohen too. + +I think the Chairman is a legitimately decent human being, who wants to see justice done just as much as you do. + +So far, you and I have taken an entire YEAR of our lives to better understand something that 99% of the world ignores or exploits. To try and FIX a system BROKEN beyond comprehension. + +Dare I say, TO TRY AND MAKE THE WORLD A BETTER PLACE. + +For as much as this is about the money, it's also about being on the right side of truth and justice. + +And to do that, we need to liquidate these slimy fucks down to their last penny. + +It's possible that the series finale of Hedgie's r Fukt, may now be upon us. The board placing their final touches on what every one of you DESERVES. + +NOT JUST THE GREATEST COMPANY TURNAROUND EVER, BUT JUSTICE! + +A COMPLETE AND UTTER YEETING OF SHORTS FROM OUR STOCK!!! + +I can feel it in my bones. + +The endgame is coming. + +FULL FUCKING CIRCLE. + +I leave you with this image + +[https://assets.entrepreneur.com/content/3x2/2000/20200430203434-image001.jpeg?auto=webp&quality=95&crop=16:9&width=675](https://assets.entrepreneur.com/content/3x2/2000/20200430203434-image001.jpeg?auto=webp&quality=95&crop=16:9&width=675) + +And this tweet + +[https://twitter.com/ryancohen/status/1350877969816956934?s=20](https://twitter.com/ryancohen/status/1350877969816956934?s=20) + +&#x200B; + +derpsy out + +Edit: Wow, what a response. Best community on the internet, hands down. Also would like to take this opportunity to say to all the shills and MSM parrots out there, that I will be on the right side of history when this is all said and done. I hope you are too. +The most intense vote in crypto history now has only 20 more hours to go before it finally closes after a week long running vote.[trustnodes.com](https://www.trustnodes.com/2018/04/23/three-million-eth-now-voted-52-restoring-paritys-eth) +Total damages around $12k, plus $3k unpaid water bill balance. I've hired debt collection services to go after them, unfortunately it's been 3 months now and they (debt collection) notified me that they can't find them as they are probably still self employed and not reporting any locations. + +I had another renter recently move out and they did not disclose their new address with $3k due in damages (after security deposit). + +Recommendations on these situations? Go straight to court? Report to credit bureau? + + +Update 1: The tenant was fully verified / background check cleared / 12+ months steady healthy income & DTI / verified employer / no criminal record / high credit score with zero missed payments. +We were approached by a lady at the shopping centre and she gave all of us a scratchie ticket (the missus, my three kids and I). +They all lost so she gave us all another one. My son had a win! She seemed genuinely shocked as we had won the bigger prize instead of the “standard” prize. + +Long story short; we won a free brunch for the 5 of us at a nearby restaurant as well as a $200 gift voucher for Coles/Kmart/LiquorLand/etc. + +Everyone who wins gets this brunch, but most winners only get a $100 voucher. + +Here’s the catch - while we eat our brunch there will be a presentation playing on a TV. It will be an “investment opportunity” that basically sounds like a timeshare thing. We will receive our gift voucher after the presentation. We are under no obligation to purchase or sign up to anything, nor even actually watch or pay attention to the TV. + +The other big red flag - we had to pay $20 cash to reserve our spot for the brunch, which we will get back the instant we turn up. Apparently this is to actually entice us to come. We can leave straight after this if we really want, but then miss out on brunch and the $200 gift card. + +The company running it is Aniko and these gift vouchers are apparently funded by the government as a way to get people spending money while on holidays. She said most people only win $100 as it’s not really enough to do a lot with, so they spend even more. But we won $200 so we’re special. + +We returned to the shop the next day and I happened to watch the same lady approach 2 other families and give them some scratchies - they all lost. + +Did we get scammed? + +My logic was that they wouldn’t go to all this effort for $20. + +Our brunch is later today and we intend on going. But I’m remaining cautious and sceptical. +Huh. Got some mail from a crime scene cleaning company Saturday concerning one of our rentals in Michigan. + +Turns out there was a homicide there last week, part of a murder-suicide. Neither party has been publicly identified yet, so we don't know if it was our tenant, but it's a fair assumption. + +Anyone have experience with The Crime Scene Cleaner, LLC? + +**Update 1:** Made contact with the property manager. She had not heard anything, but we figured out that that was likely because the investigating agency was not the local PD, because they are listed as the property manager with the city. + +We've confirmed that something happened at the address Monday. We have not yet confirmed the identities of the deceased, which is actually in question because someone using the tenant's phone texted the property manager Friday. + +I'll have more tomorrow. The property manager was out of the office today but said she'd be stopping by the property tomorrow morning. + +**Update 2:** And boy is this a fun one. + +The cast: Tammy, the tenant. TBF, Tammy's boyfriend. And Not-Tammy. + +As I mentioned, someone using Tammy's phone texted the PM four days after the murder-suicide. She asked the PM to call her about the house after 5, but then the phone "wasn't receiving inbound calls" or something like that according to a recording. Curious. The PM also mentioned that Tammy and Not-Tammy had a kind of a time-share going with TBF, and whoever got TBF that week or whatever also got the house. + +Yeah. + +So anyway, the deceased female is apparently Not-Tammy, because the PM actually made contact with Tammy. TBF apparently killed Not-Tammy (and the dog, the bastard), then took off somewhere and killed himself. Tammy is not staying in the house, and gave notice as well. I'm fine with that. + +Apparently, we don't have any keys to the place because when Current PM took over from the last PM, keys didn't get handed over. I think TBF's family has keys. TBF's car is still there, and there's personal property to get returned to both TBF's family as well as Not-Tammy's family. We're changing the locks today and PM has a mitigation company that'll at least take a look to see how bad it is. The cops have Tammy's phone right now; that's why PM couldn't reach her that way. Don't know if she's somehow a suspect in any of this. + +What a freaking mess. +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! + +It wouldn't make sense for landlords to evict so many of their tenants as there wouldn't be people that could afford to pay the normal price for rent, hence their apartments would be empty. Since landlords would rather settle for less than normal rent over nothing, wouldn't they just lower prices to prevent the surplus of apartments from happening? +Hi Canadian friends, I posted the below DD on Artizia on WSB yesterday evening and thought I should share here as well, I have reformatted it slightly to conform to the rules of this sub. + + + +**Aritzia - What is it?** + +A Canadian semi-luxury fashion house and clothing company based out of BC that operates 94 stores in North America (predominantly in Canada, but with about 20 stores in the USA). + +The company predominantly sells in-house brands (Babaton, Wilfred, etc.) but also stocks clothing/accessories from the likes of Levi's and Herschel among others. Aritzia has had an amazing success over the last few years, growing organic same store sales in the past 19 consecutive quarters, and posting a double-digit EBITDA and top-line sales CAGR since 2016 when the company went public. + +The stock ([ATZ.TO](https://atz.to/) on the TSX) traded for an ATH of $26.12 shortly before the Feb crash and is currently sitting at $14.60 as of Friday's close. + +**Why is ATZ the next Lulu?** + +Aritzia first caught my attention from the countless packages that were being delivered to my upstairs neighbors (3 late-20s females), as well as from the various Tiktoks and Instagram haul stories that I had seen over the past few weeks. I was curious, could a clothing company that operates brick and mortar locations be doing well during quarantine? The answer is yes, and not only are they surviving the quarantine, but they are THRIVING. + +Aritzia has one of the best-in-class E-commerce platforms of any retail clothing manufacturer in North America, let alone Canada. Their 2020 target was for 25% of all sales to be digital, I am sure that they have far exceeded that threshold so far this year. The company views their brick-and-mortar stores as showrooms for their product, but ultimately is focused on an omni-channel sales strategy. Customers are used to shopping both on-line and in-store and their tech-savvy target clientele of women aged 19-35 are the prime audience to be spending their CERB and Trump Bux on the latest line of summer lounge and athletic wear for at-home delivery. + +Aritzia's most popular market is BC, where recently CoVID restrictions have been lessened, and Aritzia stores have started reopening. The company has a well-thought-out approach on how to maintain customer safety for the remainder of the crisis which can be found here: + +[https://business.financialpost.com/news/retail-marketing/sorry-maam-that-dress-is-in-quarantine-how-clothing-stores-are-prepping-for-a-strange-new-reality](https://business.financialpost.com/news/retail-marketing/sorry-maam-that-dress-is-in-quarantine-how-clothing-stores-are-prepping-for-a-strange-new-reality) + +Given their track-record of growth, the re-opening of their key markets, and their best in class E-commerce and social media marketing, I think that ATZ is a slam-dunk to become the Lulu in the coming weeks/months. + +**Grass roots due-diligence** + +Customer Surveys: + +I asked over 20 females of varying ages, cultural backgrounds, locations in Canada, and levels of economic status a few key questions about Aritizia. + +* What is your opinion of Aritzia as a brand? + + * Unanimously, the feedback was positive. Respondents noted that they predominantly switched from fast-fashion brands such as Zara to shopping at Aritzia because their styles are more timeless and were of high-quality materials. They also cared a lot about the company's sustainable fashion mindset, and the various community donation and social cause campaigns that are frequently at the forefront of Artizia's media presence + * To gauge the response from non-Canadian residents on how Aritizia is performing in the US I reached out to a number of Americans (predominantly in California and Texas), the response there was mixed, most had heard of the brand (impressive given its retail footprint of 20 stores) but most had not shopped there recently. Nevertheless, it gives long-term support on the brands growing awareness in the US, which is one of the company's next big bets. + * Below is a response from a BC resident (early 20s, white) on why she shops online at Aritzia: + +&#x200B; + +https://preview.redd.it/adxto0p6orz41.png?width=1085&format=png&auto=webp&s=aedc795eef9f2ee1459159de687fbea9945f17ce + +* Have you or your friends shopped more online at Aritzia than you did prior to the CoVID crisis? If so, why did you do so? + + * Almost unanimously, respondents claimed to have shopped online at Aritzia more during the quarantine than prior, mostly because of the style of clothing that Aritzia specializes in (lounge and athletic wear... do we want to guess why Lulu is doing so well?) but also because of an overall desire to engage in retail therapy. Many noted that although online spending increased at Aritzia, it did not for other products (with the notable exception of Sephora). + * The below response from one of my co-workers (mid-20s affluent white Canadian) is not unique in its description of the level of online shopping going on right now at Aritzia: + +&#x200B; + +https://preview.redd.it/w7fn92i8orz41.png?width=1033&format=png&auto=webp&s=c5f8a9ad708ef3cc4b87c22a486c3264eec9ea93 + +* Have you experienced any stock-outs on products online? And if so, are they back in stock quickly? + + * This question was asked to assess if there are any supply chain constraints in Aritzia's ability to service the high level of demand + * Respondents claimed that while some products were unavailable, it was only due to them being on pre-order (ie. not released yet). This leads me to believe that if Aritzia does have inventory issues, they are not widespread and they are able to disguise them well as pre-orders potentially further increasing hype + +Other Grass Roots DD: + +As stated earlier, the majority of Aritizia's sales occur in the province of Brittish Columbia, where most of their retail stores are located (approx 20% of the system). BC was one of the early provinces hit by CoVID and only saw 2400 cases in relation to Canada's 78,000 (3.1% of cases for 14.3% of the population). + +I wanted to ensure that what I was hearing from my social circle, was accurately being represented by actual deliveries in the market they are most highly penetrated in. I was able to get in contact with a Fedex driver that works in Surrey BC, he was able to back up the previous survey statements by saying that almost 1 in every 2 packages of clothing he delivered over the last 2 weeks was Aritizia, and that was not the case prior to CoVID. Unfortunately this is a sample size of 1, and represents a very small area of their operations, but nevertheless, it does help to strengthen my thesis. + +To further support my research, the following was posted on their Twitter account on Friday, during an event they were hosting to sell Front-line worker themed merchandise: + +https://preview.redd.it/tnxwwlaaorz41.png?width=945&format=png&auto=webp&s=928c59e370b0b09822e3fe549eedf1dc0366a623 + +In summary, from the testimonials of Aritizia customers, the real world experience of a delivery driver in BC, and the company's own reports on their website traffic, the company is without a doubt seeing unprecedented online demand for their products. + +**Financials** + +Here is where the DD gets juicy as Aritzia has one of the cleanest and healthiest balance sheets I have ever seen. + +&#x200B; + +https://preview.redd.it/jvgffd0corz41.png?width=972&format=png&auto=webp&s=97402dd7509564195517ec49ce1991cc777cc9ab + +The first thing to point out is the companies healthy cash position, the entirety of Artizia's long-term debt is entirely covered by their current cash on-hand. + +The other thing to note is the large change in lease liabilities and right-of-use assets from the same period last year. This is driven by an accounting treatment change whereby the entirety of the companies lease obligations over the committed term of their head-lease must be included as a liability on their balance sheet, with the offsetting right-of-use asset representing their remaining tenancy on their retail locations. + +2 points here: + +1. the current portion of lease liabilities (C$58m) does not present as a cash-flow issue as almost all of the major commercial real-estate companies (Choice Properties, CT REIT, Rio Can, etc.) are all offering rent-deferral for commercial tenants over a 3-yr period. This coupled with their healthy cash position, the availability of a C$100m revolver, and their growing online sales, materially remove all liquidity risk in the near term +2. Backing out leasehold obligations as they are not true-debt in the conventional sense, the company has a debt-to-EBITDA of >1.3x, which is below the retail industry average of 2.5x and a healthy debt-to-assets of \~0.3x + +I wont go over any analysis of their earnings history and revenue growth as it is pretty self-explanatory, but here are the charts from their latest 10-k here: + +&#x200B; + +https://preview.redd.it/q0s4phodorz41.png?width=448&format=png&auto=webp&s=a865c363acc77e01498c89df183a9c7195091cf7 + +https://preview.redd.it/3tsrmwteorz41.png?width=456&format=png&auto=webp&s=5f5b40f6dcb12b7e60392fbd98c5889e7bdeea8f + +**Conclusion** + +Aritizia is a healthy company with growing revenues and EBITDA that has managed to capitalize greatly on its E-commerce platform over the last few months. Currently the share price is trading at a point that hasn't been seen since June 2018. The outlook for the company is arguably stronger now than it was pre-crisis, as in addition to the points I covered above, many women's clothing retailers have declared bankruptcy leaving a bigger piece of the pie for the remaining incumbents. + +The Aritzia earnings call is 5/28 but will only cover their Q4 which ended March 1st 2020, there will be no CoVID impact on these results; however, I still strongly believe that with strong FY20 guidance, the stock could recover back to its early-2020 levels. I recommend either longer term OTM calls with expiry in October in order to guarantee the impact from my grass-roots DD is priced in, or betting on the June expiry options in anticipation for strong guidance. +Hey folks. I start university in 6 months, and the subject I picked to study is economics (you guessed it) however I have never had a formal education in economics, I have only taught myself the subject through books and an a level textbook. I am extremely interested in the subject but have a very surface level knowledge of the subject because it would seem a lot of the concepts are intertwined. So I ask what is the quickest way to prepare myself for university in 6 months. The textbook I have used is Slomans “essential economics” if that helps and most of my understanding is in microeconomics. Any help is appreciated. +I have been crying all morning since I emailed my boss about the double direct deposit and he told me I was given a raise with retroactive backpay. I have been a social worker less than a year and I feel so so validated. I have worked so hard in the past few months especially to get better at my job. I am in the middle of a divorce and half my income was my rent. I couldn't afford to move nor my rent. Now I can afford to stay in my apartment, file my divorce papers, and not donate plasma. I am so happy. +270% is really a lot, yet by 1970 it was already down to 80%. Many countries have defaulted when they were barely exceeding 100%. + +The point in the question is, if fiscal pressure is too much, then growth an development will be severely limited. Why did this not happen in the 1950s UK? + +I've asked in /r/AskUK, and I've also searched /r/AskHistorians. They talk about the Anglo-American loans, their very favorable interest rate of 2% (effectively negative as inflation was 3%) and their very long term. They also talk about how the UK defaulted to India. But the Ango-American loans were about 4bln and the Indian loan was 1.5 bln, while the UK's GDP was nearly 9bln at the time. If we're talking about 270% then there must be something a lot bigger. + +I've also searched historical central bank interest rates and inflation rates, they don't look weird. + +One of the answers says "taxed very heavily, the personal allowance was just 1500 GBP". Okay, but why did that not limit growth and development? +Hey everyone, + +I get thinking whilst at work and one thing that had me wondering earlier is the provision of a universal/full basic income. I haven't looked into it fully however I think overall it might be the way to go especially if there is less work to be done going into the future. + +I understand this is bordering on communism but I always thought that citizens (or at least welfare recipients) should be say provided with a few food staples i.e. milk, bread, eggs, some fruit and veg and people in public housing/assistance should have solar installed to avoid/help with cost of the power bill living expense = My line of thinking with these is having less outgoing costs means the less money they'd need to be provided. And now hearing how much food rescue groups and charity give away in terms of food and clothing as well as outright paying someone's bill that they cannot afford this we're already well and truly in this territory already, right? + +So what is your stance on this? Our PM a few years back proclaimed 'the age of entitlement is over' but was it really? If we all got the same base level of pay straight off the bat shouldn't it be that we could expect never to be asked to give to others? That one could be responsible for their own budgeting and if they didn't prioritize say healthcare that that's on them and they have no one to blame except themselves? It would help relieve people's money stresses surely? + +Again the mechanics of how this would work or wouldn't isn't something I've delved into deeply. +(https://i.imgur.com/7MfLnKs.jpg) + + +1. Iron Mike Tyson was one of the greatest boxers of all time and the youngest heavyweight champion of all time. + +2. Throughout his career, Mike Tyson has earned over $500 million in his career. + +3. In 2003, Tyson filed for bankruptcy. + +4. Mike Tyson earned $22 million for his fight with Michael Spinks on June 1988. + +5. From June 1988 to April 2021; the S&P 500 with dividends reinvested has given a CAGR of 10.90% + +If Mike Tyson invested $22 million in a Vanguard S&P 500 Index Fund and invested nothing else : + +MIKE TYSON WOULD BE WORTH $600 MILLION TODAY + +A net worth of $600 million would make Mike Tyson the 5th richest sportsperson of all time. + +Behind the likes of Michael Jordan and Vince McMahon. + +Richer than Cristiano Ronaldo, Lionel Messi and Lebron James. +My husband and I want to move and were facing the decision for a long time to move into a large condo in the city center or to buy a huge piece of land and build a house there. The latter would be our dream, of course. Peace, seclusion, our own pool, library, large garden.... but also a lot of work and staff that we would need to hire for it, especially because we'd like to keep that house till we die and that's probably another 40+ years. My father always told me "Don't buy work with your money." and maintaining a house with a big garden is definitely a lot of work. + +Now I've been thinking about whether an alternative or compromise would be to just stay in a hotel or resort. Permanently as a main residence. The locations are usually good, there may be a sauna in the suite, an ever-maintained garden and pool, a golf course, cleaning service, dining options and so on. Thanks to elevators, accessibility is provided in old age. Security could also be better here and I wouldn't have to worry if we travel for a few months. On the other hand, a kitchen is missing as well as a large refrigerator (serviced apartments do not exist in my country yet - Austria). We're introverted couch potatoes and enjoy our time together, so I don't think it would get boring (and we could leave the hotel's grounds to walk around the city). Peace and quiet would be important to us and here I am not sure if this is the right choice. I'm not a party person, but I don't want trouble with neighbors because I sneeze or laugh too loud. Or listening to the neighbor's kid play the trumpet in the morning. + +Don't worry, if I decide to do this, I would test it first and live there for 3-6 months. Unfortunately, I don't know anyone who lives in a hotel, so I would be interested in your experiences or opinions. From your point of view, what speaks for it and what against it? +For a long time, I’ve felt that I have the pulse of the Apes. I like what you like. I scream when you scream. I am as dumb as the dumbest of us, and I look up to the smart guys just like you and every time Ryan Cohen tweets, I go and jerk off furiously (especially when you deepfake his face onto a sexy person 😉). + +For weeks now I have a felt uneasiness about the way that the moderators were running the show. It turns out, there was a lot of uneasiness and tension within the mod ranks as well. This situation culminated in the Great Dumpster Fire of 2021 and it’s time the people’s voice is heard and listened to, so I’m here with a Fire Extinguisher. + +https://i.redd.it/5elxkmtp20c71.gif + +(EDIT for situational clarity) Effective immediately: Redchessqueen99, Rensole, and Hey\_Madie are no longer on the moderating team (Red and Ren have made statements linked below). Everyone felt this was the best way forward and we thank them for doing what was best for the community. True Apes who have been here from the start know what kind of work, sacrifice, and dedication they gave to this group and we thank them for their service. We want to make it very clear that Ren stepped down voluntarily and was doing so for the good of the community to prevent any further divide. With that said, you spoke and we listened and we hope this is enough to put the drama to bed. + +https://preview.redd.it/lo8i57dr20c71.png?width=720&format=png&auto=webp&s=020e378720579b97c4cf3471759dd83d4d721372 + +For transparency, here are links to the respective resignations statements from mods who've made one: + +* [Red](https://www.reddit.com/r/Superstonk/comments/omt038/farewell/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) +* [Rensole](https://www.reddit.com/r/Superstonk/comments/omr3g2/fuck_it_im_done_with_this_shit/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) +* [~~Jsmar~~](https://www.reddit.com/r/Superstonk/comments/omluu3/ujsmar18_mod_resignation_ama/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) (Jsmar has returned to the team) +* [Sharkbaitlol](https://www.reddit.com/user/sharkbaitlol/comments/om7ty0/i_will_be_stepping_down/) + +Hieronymus1\_1, Sharkbait, ~~Jsmar~~ (EDIT-Jsmar has returned to the team), Broccaaa have all left peacefully on their accords due to their own personal reasons. Also the reason I am not on the mod list on the subreddit is because I am still in the “goldfish” period that every mod has to go through before they reach the level of the regular mod. When I have earned my promotion, I will be added to the moderator list with the respective permissions. + +Moving forward: Bye\_Triangle is now the “Site Owner” and for the time being will remain the only admin of the group until we can find suitable members of the moderation team to fill these gaps. I have known B\_T for months now, have talked with him behind the scenes, and I trust and believe in his ability to remain calm, cool, collected, and level headed through anything. He’s the right guy for the job right now. + +We are also going to work on our internal procedures and policies so that THIS BULLSHIT NEVER HAPPENS AGAIN. (God what a fucking shitshow 🤦🏽‍♂️) This whole thing was an embarrassment from any angle that you look at it and we are looking to rebuild the damage that the moderation team has inflicted on this community. On behalf of the mod team, I am truly sorry this all went down this way. With that said, we will be looking to expand the moderating team and we will be reaching out to people in the community for help on this. Please don't contact us about becoming a mod, we'll come to you. + +\-------------------------- + +I’m gonna be candid with you guys here. I came into this whole ordeal from the perspective of a regular ape watching the shitshow. I was in the dark for most of this week, trying to figure out what the fuck was going on and what I could do to help. When I saw that things weren’t being done quickly enough, I decided to step in and offer my services to the mods. For transparency, they invited me to become a mod weeks ago and I turned them down. Last Friday, I was the one who approached them about joining the team, not them. They did not try to use me a scapegoat. I jumped into the fire because I felt a *Call of Duty*… + +[ Oops \*MoASS EFFECT\* my bad ](https://preview.redd.it/oheb1vyv20c71.png?width=624&format=png&auto=webp&s=445ff31aec69de6d4db08db015ad1eacb3e508e2) + +This place is a mess right now. Who do we believe? Who can we trust? Who is a shill and who is real? I’m confused as fuck too. When I joined the mod team, I came in like a goddamn wrecking ball. + +[ ](https://preview.redd.it/0lojcszy20c71.png?width=600&format=png&auto=webp&s=62f94c738055339b07a1515c37834fe21793d44b) + +From the start, I felt what you guys felt and I tried my best to get the rest of the mods to see the perspective of the Apes. Convincing people is a tough job, and convincing other members of leadership is even tougher. I’m gonna be clear though, I can’t be what you want me to be. I can only be me, an ape, a human who can make mistakes and I hope you are able to forgive me and the mod team for taking so long to come up with the solution that you wanted. The balancing of opposing ideas while also being under duress is a situation that would make most people crack. From my short time in the moderating team, and from my experiences prior to coming on, I can tell you that I trust that the mods have their hearts in the right place and they are true apes trying to make a difference for this community that we love. You guys trusted us to make the right decision and I hope this is it. + +The mods and I await your judgment. Apes Together Strong. +We understand that tempers are rising due to actions that Robinhood and other brokerages have taken to interfere in the market in regards to GME and other high volatility stocks. The subreddit has been seeing a large uptick in low-quality posts and comments over the past few days featuring gain/loss screenshots, calls for boycotts & petitions, and various other things that do not belong on /r/thetagang proper. + +In order to contain some of this, feel free to post in this thread about your grievances and how your thetagang positions have been affected. This is not an open invitation to turn this thread into WSB part deux and we will continue to take appropriate actions against posts and comments that do not belong on this subreddit. Be thoughtful about your actions and continue to make this a great community. + +I will un-sticky this thread on the 5th of February unless its continued existence is still warranted. +Its been a year since I worked. + +So I live in a country where cryptos are not being taxed. + +My monthly expenses are 5-7 million sats. + +I have currently over 600 million sats in my offline hardware wallets. + +As the time goes by my monthly expenses gets lower. In about 4 year I think my expenses will be just 1-2 million sats per month and by 2030 as low as 100.000 sats. There is even a good possibility that a whole coiner will get over 6 million sats in interest yearly by future institutions. + +Knowing that my sats will last decades, even maybe forever I just can be bothered to work for some a-hole again. Instead I use the time to do what I want to, not what I have to. + +The daily stress is gone. + +Thank you Bitcoin. +[Elon Musk Tweet](https://ibb.co/dBSg5ps) + +On the Night of May 15th, a Twitter profile tweeted Doge Coin is the chosen one by Elon Musk because of its lower fees and less environmental effect. + +Elon Musk replies that he wants to speed up Block time 10X and increase Block size 10X to reduce transaction fee 100X, for Doge Coin. + +If the solution of blockchain scaling was simply to change the variables, why Adam Beck didn't think of this and why Satoshi didn't think of this. + +Even now projects like Ethereum can increase the limit and make transaction fees on the chain reduce over 1000X. + +THE SOLUTION IS NOT TO JUST CHANGE NUMBERS. + +It seriously has a bad effects on the network security and decentralization. (Please remember this) + +Many projects like BCH and BSV has tried all this. And failed. + +This narrative is so 2013. + +Bitcoin has proven itself again and again over the years on why it is the King. And projects like Ethereum are working for years to scale in this perspective. + +If you are new to crypto, please do not get manipulated by Elon Musk's tweets. + +IMO, Doge Coin is just a tool for Elon to flex his dominance around this space. It won't last long as he clearly has no clue what he is talking about. +Hey guys, + +So a quick rundown: I’m a recent college grad with a STEM degree who was contacted by a recruiting firm about a year long contractor job for a large software company. Originally the offer was for $25/hr but I talked them up to $30, which I was pretty happy about, so I took the job. + +How recruiting companies work, if you’re not familiar, is that I’m basically a full time employee of the recruiting company, all my paychecks and benefits come through them. The company I actually work for pays the recruiting company a salary for my work, and from that salary I get my $30/hr. + +So my role gives me access to the companies ticket system and one day I was browsing through it and came across my onboarding tickets. It had all the paperwork and contracts between the company and the recruiting company, which included the amount they were paying for me, $45/hr. I’m pretty sure I wasn’t supposed to see this. + +I’m not too surprised with this number, the recruiting company has to make money after all plus finders fees and all that. But what I am curious about is how much money I should ask for at the end of my contract when the company wants to hire me on full time (very common and likely). Should I try to get the $45/hr? More than that since I’ll have another year of experience at that point? What do you think? + +Thanks for any help! + +Edit: +Further questions + +How would I go about negotiating? Should I mention at all that I know how much they’re paying the recruiting agency? + +Edit2: +If it helps any it’s an IT role in New England. I have a CS degree but wasn’t having much luck finding a job and I didn’t want to sit around all summer doing nothing so I took a decently paying job in a semi-relevant field. +https://www.btc-echo.de/jp-morgan-kauft-bitcoin-obwohl-ceo-jamie-dimon-bitcoin-als-betrug-bezeichnet/ + +This german site states, that although JP Morgan CEO called BTC fraud they were on eof the biggest buyers after the price drop partially caused by the statement. So just a big FUD? +Hi new here and to investing. + +Was listening to a podcast (either uk investors magazine or investors chronicle), which an investor (manager of a large fund, focused on divdened stocks) was talking about National Grid and them putting money into it, for the below reasons + +A stead increase in divedened payments, year on year, staying at approx 5%, + +Risk adverse as they are always needed, with no competition, + +And some sort of growth expected as we move towards a more electric society. + +Was wondering if any others of you have suggestions for stocks like this which are risk adverse (know there is always risk) and have a nice steady dividend. + +Looking to stick to UK investments so I have a base knowledge with what I'm investing in, but would consider others + +Outside context, looking to buy a house after my contract is up 18months so bulk of money is going into a LISA with the 25% government bonus. Can you really beat a 25%return? + +But will be looking to top the limit so will have some money to invest but obviously will likely sell them up for the deposit, thinking high safe dividend stocks would be good for this length of investment as they just have a better then current interest returns, and it's not long enough time to overcome any bumps in growth companies +I work 2 jobs, 50 hrs/week, and I feel like I’m trying to get water out of a stone. + +Rent went up to like $1k a month, I just paid a pressing bill of $3.5k that couldn’t be put off, and I’ve gotta look into Sallie May to finance a $10k uni tuition bill due like next month. I had to take ten days off work for family reasons and now the next substantial paycheck I get won’t be until next month as well. I mentioned going on food stamps to my parents, my mom told me she didn’t raise a welfare queen and that I’m fine without it. + +I’ve got like $300 to my name lol what queen, where is she. Really frustrated that established folks I’ve talked to just don’t seem to get it. +https://www.nytimes.com/2019/09/17/style/generation-z-millennials-work-life-balance.html + +Thought this was a great read and fitting for our community. Flexibility is what we all seek by choosing FI. Hopefully the movement towards flexibility continues to trickle down into more lines of business. I find myself not wanting to be on the “partner track” so I can maintain flexibility + +Have you seen a shift in your employer’s flexibility, or did you have to change companies to obtain it? Did you take less? Did you get a pay raise? If you didn’t change companies, did you have to ask for flexibility? Do you feel comfortable negotiating flexibility in an interview? +All it took was a little APE dividend, a little BBBY squeeze, a GME halt here and there, and suddenly all attention is off how the DTC lied to brokers, initiating a \*solely\* forward split when they SHOULD have performed a forward split \*with the shares granted\* via dividend. To which, GME confirmed that CS confirmed that they sent all the remaining shares to the DTC... Where the shares at? + +EDIT + +Hey all, I love you but please stop giving me awards for this low-effort shitpost. Instead, give the awards to the real DDers, the Criands, Golden Cross guys, the Einfachmans, sideways trading guys, logarithmic guys, Dorito of Doom guys, and all the other homies. + +1. I made this post to keep securities fraud at the forefront of everyones minds, because SHF have a history of coordinating crazy market shenanigans in order to divert retail attention. The fact that the securities fraud should be legally provable means someone should see legitimate Cell time. +2. The subject matter involving some brokerages is being talked about in other posts (including today) +3. New folk may not be aware of all the hedgie tactics + +I'm an individual investor + +I like the idiosyncratic stock + +Buy, hodl, DRS + +Edit 2: + +Kenny I'm in no way suicidal or threatening self-harm, calm your bed posts + +Also added the \*\*'s around contextual edits + +FINAL EDIT: + +Apparently I'm unable to report the report about my alleged 'self harm' via the 'Abuse of the Report Button' option, even though I link the post appropriately. Don't bedpost me, bro +Title says it all, looking to expand my investments, currently only in stock market, but all of 2020 I have been studying real estate. To be honest, kind of scared to start but I really am looking to into 2021. +We are in the right place, at the right time. + +Roller coasters (since this is crypto) will come...but we are headed to great times. + +*Edit: Forgot the most important thing: I wanted to add "With the right fundamentals" (tech + use cases + developers)* +When you’re buying with dollars, euros, or pounds, everything you buy is within the 1 dollar ~ 100 dollar range. (In a supermarket, let’s say) + +However, when you’re buying with yen, everything is within 100 ~ 10000 yen. + +Why do some currencies have so many zeroes, and some have no zeroes? + +Why is it so difficult to imagine a soda bottle costing 100 dollars in USA, whereas it is normal for a soda bottle to cost 100 yen in japan? +Hello all. I've been lurking the past couple weeks and I'm brand new to investing and wanted to share my story. Just wanted to say that this sub has been super helpful to me as a newbie so thanks very much in advance. + +I'm having a lot of issues trying to restrain from FOMO, and it's been a hot topic lately, but what are some things you all do to not get those urges that you're missing out? + + +For context. 29(m) working in Network and VOIP administration in the Okanagan. I have ~95k in mutual funds with Investor's Group. Half in a conservative position (hopefully house purchase in the next 2 years) and half for retirement. I recently threw 5k into a Quest Trade account to catch the GME train. I lost $800 within 2 days in GME (lol) and bought some shares of GDNP @1.28, SU.TO@21.70 and ATVI@97 which have done a bit better for me. + + +I want to say that I've learned my lesson, but it's become a daily routine for me to come here, r/stock and WSB and read all about the stuff that's booming and I'm missing out on - the newest being Tilray and Aphria. How do you guys resist those urges to try and get lucky to ride the wave? + + +In some ways, I think that since 95% of my portfolio is in safer investments anyway, maybe it makes sense for my 5k to be in a more yolo/aggressive position? I guess this is just me dipping my toe into the water to try and become more financially independent but the truth is I know nothing about this stuff and my "DD" is basically just reading news articles and reddit posts, and youtube videos that sound like the OP actually knows what's up. Kind of ironic because I'm the type of person that if I need to buy anything (laptop, desk lamp, whatever), I'll read 30 pages of reviews to try and find the best option but with regards to stocks I feel like I have 0 idea what's going on. + + +That being said, this is the first time I've really been interested in handling my own money. When I first started working I went to IG knowing that my return would be lower, but also just wanting to not worry about it and have someone help me. Now, I find myself reading articles, watching Brandon Beavis and Justin Oh on youtube daily and really just trying to get more involved. My financial advisor at IG is also wonderful and has been super helpful. I want to say my end goal is to be literate enough to leave IG but I'm not sure. She of course recommended to stay far away from GME but I'm an idiot so... + + +If you've made it this far thanks for listening to my story. What do you think I can improve on? Am I on the right track? How do you keep your FOMO at bay? +Quite an effective strategy on the hedgefund's part. They have easily psychologically manipulated us with the flash crash to spark the "*Shiny Ball*" syndrome. Exposing BCG uncovers real crime that can't be as easily hidden as stock manipulation, and they absolutely don't want us bringing that attention for all the world to see. +You get married and then it’s living happily ever after, right? Well... + +A few months after we were married, my wife came home from Target with a couple of large shopping bags. + +*“What did you buy this time?!”* + +No, I didn’t say that out loud. I’m not *that* stupid. + +But the thought did run through my mind, and it concerned me. + +Why was I so upset over a trip to Target? I love Allison! I trust her, and I know she’s responsible. + +She didn’t come home with a new car. She didn’t gamble away all our savings. So what’s the big deal? + +Then it hit me. + +**I couldn’t answer the question, “Are we okay?”** + +We were married and happy except when it came to money. Every day, my wife used *her* money from *her* bank accounts, and I was using *my* money with *my* credit cards. + +I realized that we were still paying the bills and shopping like we were roommates rather than like a team or a family. + +And as I thought more about it, I discovered that how we used money was only *part* of the problem. + +At the time, I had just started a career as a financial advisor, and I was being paid with a combination of a fixed salary and commission. The amount I was making was changing every month. + +[EDIT: I left the financial advising career about 4 years ago. Wasn't for me.] + +Allison had a stable job, but her hourly rate was low. Plus, her job was centered around tourism, so the number of hours she worked went up in the summer and dropped in the winter. + +At any given moment, we had no idea if we were spending ourselves into a hole or climbing out of it. + +We could compare how much we were charging on our credit cards and how much money was in our bank accounts, but that got complicated. + +We had 8 accounts at 5 different banks. Answering the question, “Are we okay?” took a shit-ton longer than it needed to. + +Allison and I weren’t working or planning together when it came to money, and I wanted to make a change. + +All I wanted was to answer the question, “Are we okay?” without getting a degree in Accounting. + +**We learned how to handle money as separate people.** + +Before getting married, Allison and I really were separate people. + +We both had savings accounts, checking accounts, and credit cards to manage. We learned how to pay bills in our own apartments with our own roommates (who were also our groomsmen and bride’s maids). + +Allison and I ended up moving in together for the summer right before we got married, so we were--from a legal standpoint--roommates rather than a family. We got used to paying the bills and shopping as separate people. + +Looking back, combining our lives and becoming a family needed to happen. We realize now that this moment was inevitable, but no one ever taught us how. + +**We were responsible as individuals, but not as a couple.** + +I figured that if we didn’t start working together with our money, the “Target incident” would just get worse. + +* If I needed a new suit for work, could we actually afford it? +* What happens when we want to go on vacation? +* Would Allison start to resent me for spending a lot of money on craft beer? +* Would I start resenting Allison for buying another purse? +* What if we go further and further into debt without knowing it? +* What if we want to buy a house? + +I love my wife, and I trust her. But the way we were going, I didn’t trust *us*. + +**No one ever taught us how to handle money as a team.** + +No one ever taught me how to handle money as a spouse. Fortunately, I have great parents that I got to watch, and I learned what a great marriage could be. But they never talked about money around me. + +In high school and college, I learned how to balance my checkbook, use a credit card, and pay my bills. But it’s easy to make decisions when I don’t need anyone else’s opinion or permission. + +Allison and I needed to do something different, and it was up to us to change. + +**We needed to find some help.** + +I was on edge to begin with. Trying to network, gain clients, and work long hours already had me stressed out. Worrying about my clients’ money didn’t leave much energy at the end of the day to take care of our money. + +Any time we needed to go shopping was stressful. Hanging out with friends made me feel guilty. We live in Florida so of course we like to go to Orlando (*“Sea World...Disney...putt-putt golfing.”*). + +I wanted to worry a lot less about money, have some fun, and not ruin our marriage in the process. + +It was time to find some help. + +**What were the problems we needed to solve?** + +Allison and I already worked well as a team. We were both responsible, but we had separate financial lives that needed to be combined somehow. + +I realized that the three basic problems we needed to solve were: +* How do we see all of our money in one place so we don’t miss anything? +* How can we manage day-to-day decisions without nagging each other? +* How do we financially and emotionally support each other in our goals and dreams? + +This took some time to figure out. + +**Step 1: See everything in one place.** + +The first thing we did was to get everything into one place. I had been using the app, Mint, for years to help track my own stuff. So we decided to start a new account. [EDIT: I took out the link for Mint to help out with the thumbnail issue. I'm guessing you can find the app just fine without it.] + +[EDIT: I am not an employee of Mint, nor am I being paid by them. I'm just a fan, and the app has worked well for me. The comments on this post also strongly suggest (but are not limited to) YNAB, Good Budget, Personal Capital, EveryDollar, Mvelopes, and Quicken. You could also use Excel, Google Sheets, Apple Numbers, or any other spreadsheet software you are comfortable with to budget and keep track of your finances.] + +* Every savings account. +* Every checking account. +* All the credit cards. +* Student loans. +* Car loans. +* Every transaction. +* Updated automatically. +* All in one spot! + +The clouds parted and the angels sang. + +We both had access to see everything at any moment on a computer or our phones. + +**Step 2: Give each other permission to spend money.** + +The next step was to start budgeting together, and I had to talk Allison into this. She had some valid concerns, and it all started with toothpaste. + +Since I’m a detail-oriented person, I was gung-ho about budgeting and tracking our money. I love it when everything works together perfectly. Whereas Allison has more of a “good enough” personality. She was happy as long as we were staying out of trouble. + +So when I started to talk about budgeting, one of Allison’s first questions was, “If we spend our budget for toiletries and we need toothpaste, I can’t go out and buy more toothpaste?” + +It was a good question, and I didn’t have the answer right away. Over time, we’ve learned how to budget each month without making the budget set in stone. It’s flexible, and when we need to change it...we change it. Toothpaste for days! + +Allison also asked, “And what if we want to go shopping on our own? Do we need to give each other permission?” + +The solution here was to budget fun money for each other. Every month, Allison gets some money that she gets to do whatever she wants with. And every month, I get some money that I get to do whatever I want with. Sometimes we overspend our fun money amounts (okay, honestly...it’s usually me), but we make it work out. + +[EDIT: We also have an "Entertainment" fund in our budget every month, which is for anything we do together. You could call it "Date Night" money, too.] + +After making a lot of mistakes, hitting road bumps, finding solutions, and practicing, our monthly budgeting hasn’t caused any fights or headaches....for years. + +**Step 3: Decide what we want, together.** + +When it came to our goals and dreams, we tried a formal system of tracking what we wanted. But it didn’t really work out. It was too much for us as a couple. + +Our bigger goals like an emergency fund, retirement, and debt took some time, but those goals take *months* or *years* or *decades* to accomplish. Once we set the plan, there was no need for a conversation every month. + +For the shorter-term ideas, we developed a habit of asking each other, “What do you want this month?” + +Sometimes I want new running shoes. Sometimes Allison wants to throw a party at our house for friends. And sometimes we both want a new dining room table. + +In the end, we just wait until an idea pops into our mind (*“Is it time to go back to Disney World?”*), and we decide if we can afford it now or we need to save up. And then put it in the budget. + +It’s flexible, and it works for us. + +**I calmed down...fast!** + +After all our financial information was in one spot, I immediately calmed down. + +I had one number that showed me how much combined money we had in “the bank” and one number of how much we had charged on the credit cards. + +One number minus the other gave me my answer. We were okay. + +After we started to budget, seeing a Target bag (or any other shopping bag) hasn’t bothered me since. + +**We never fight about money.** + +Allison and I have had a lot of fun with friends, visited family, and had wonderful vacations. But we have made a lot of mistakes and have had to deal with a bunch of emergencies. + +We talk, discuss, and decide. But we don’t fight. +------- +If you want to ask a question or have me dive deeper into anything, let me know in the comments. I'll respond as soon as possible. + +[EDIT: Wow!! Everyone, thank you for the wonderful stories, comments and questions! I had no idea this was going to make such an impact. It's 9:42 CST, and I've have *got* to do the other work I was supposed to do today. I will respond and comment as much as I can tomorrow and through the weekend, so keep going!] +So you diamond handed for 8 whole months. Picked up plenty of more shares, maybe even saw some gains along the way (or losses no judging). You didn’t sell you beautiful ape. You’ve seen the FUD, the theories, the DD… you’ve seen it all and survived it. The MOASS is finally here. The hard part is over right? + +Wrong. + +That was the easy part. The hard part is when things start actually moving into action. When the ticker slowly moves from 1,000 to 10,000 to 100,000 to 1,000,000 and so on. It may even drop at certain points. + +You will start to feel the temptation. *maybe I should sell at 37,000, I could buy a new house and pay off my parent’s loans* + +You will start to feel the anxiety. *what if this is the top. I don’t want to lose all my money. I can’t trust every ape out there after all. What if others sell first?* + +You might even feel fear. It may be the scariest moment of your life. + +This is the hard part. It’s gonna be harder than a freshman at cheerleader practice. You will be blamed for what is happening to the economy. You will be scared. + +But you need to hold. Hold for your family. Your friends. Hold for your fellow apes. Hold for what those fuckers did in 2008. + +I’m holding and I’m holding hard. Don’t forget the DD. They need your shares, and you name the price. Don’t cheapen yourself for selling less than what it’s worth. + +Harden your resolve, apes. The MOASS is coming soon, and when it comes, be prepared. Here comes the hard part. + +HODL. 🦍 +I have finally convinced my father to invest in mutual funds. He had around 10 lakh lying in his savings account. He is willing to invest 5 lakh out of it. He is 57 years old and will retire in 2024. + +I just wanted a few questions from the fellow investors here, so that I don't waste his hard-earned money :) + +1. For him, which mf's are more preferred Debt or Equity? +2. Will lumpsum would be better or SIP's? If SIP's are preferable, how much he should invest monthly? +3. How diverse should be his portfolio? I am thinking of investing in 3 funds. Is it enough or should I further diversify? I have picked these funds are reading some threads here. + 1. Parag Parikh Flexi Cap Fund + 2. UTI Nifty Index Fund + 3. HDFC Sensex Index Fund +4. Lastly, Is it a good time to invest with the whole COVID situation going on in India? + +Any other suggestions from your side are welcome + +Thank you + +Edit - I just want to clarify, we are looking to invest for the long term, 10-15 years down the line. Even though my father retires in 3 years, we have enough liquidity to manage our expenses. in short term. +I heard some guy on the news talk shit about the stock I love so much, so I decided to use my weaponized autism to look into the company he represents and try to understand their motives for talking shit. Spoiler: We found some shit. + +Let's connect some dots: + +Anthony Chukumba works for Loop Capital. + +[https://www.loopcapital.com/location-chicago-il](https://www.loopcapital.com/location-chicago-il) + +Loop capital has an alias called JLC Infrastructures + +[https://www.dnb.com/business-directory/company-profiles.mje-loop\_capital\_partners\_llc.9d5b4eca46e974b0edeb513b74b06ac4.html](https://www.dnb.com/business-directory/company-profiles.mje-loop_capital_partners_llc.9d5b4eca46e974b0edeb513b74b06ac4.html) + +&#x200B; + +JLC has a form D/A for $342,121,212 from 8 partners, listing Credit Suisse Securities (USA) LLC as "Sales Compensation" and "Earvin Johnson" listed as "Managing Partner of the Investment Advisor" + +[https://www.sec.gov/Archives/edgar/data/0001713119/000101297519000672/xslFormDX01/primary\_doc.xml](https://www.sec.gov/Archives/edgar/data/0001713119/000101297519000672/xslFormDX01/primary_doc.xml) + +MJE-Loop Capital Partners LLC is also listed. + +[https://jlcinfra.com/index.php/team/](https://jlcinfra.com/index.php/team/) + +Turns out Earvin Johnson is THE Magic Johnson. MJE = Magic Johnson Enterprises. I guess JLC = Johnson Loop Capital. + +&#x200B; + +After Googling various terms with JLC and the like, I found: + +# Academy Sports and Outdoors, Inc + +Which lists Gamestop as a competitor. And has previous Gamestop board of directors (The ones RC kicked out) listed as board of directors. + +* **James “J.K.” Symancyk,** 48, brings more than 25 years of executive leadership and operational experience in the retail and consumer products industries. He has served as President and CEO of PetSmart, Inc. since 2018. Mr. Symancyk previously served as President and CEO of **Academy Sports & Outdoors, Inc**., a retail and ecommerce sporting goods chain, from 2015 to 2018. Prior to that, he held leadership roles of increasingly responsibility at Meijer, Inc., a regional supercenter chain store, including as President; COO; and EVP, Merchandising & Marketing. He began his career at Sam’s Club, where he served as Divisional Merchandise Manager, among other roles. His current board memberships include Petsmart and Chewy, Inc., and previously Academy Sports & Outdoors. Mr. Symancyk holds a Bachelor’s degree from the University of Arkansas.  Mr. Symancyk has been appointed a member of the Compensation Committee. +* ***William (Bill) S. Simon*** has served as a member of the board of managers of **New Academy Holding Company, LLC** since September 2016 and as a member of the board of directors of Academy Sports and Outdoors, Inc. since June 2020. Mr. Simon has also served on the board of directors of Darden Restaurants Inc. since July 2012, Chico’s FAS, Inc. since July 2016 and GameStop Corp. since March 2020. He served on the board of directors of Agrium Inc. from February 2016 to May 2017 and on the board of directors of Anixter International Inc. from March 2019 to June 2020. Mr. Simon was the President and CEO of Walmart U.S. from 2010 to 2014, and previously was appointed the COO of Walmart U.S. in 2007. Prior to joining Walmart, Mr. Simon held several senior positions at Brinker International, Diageo, Cadbury-Schweppes, PepsiCo and + +source: + +[https://www.globenewswire.com/en/news-release/2020/03/09/1997507/0/en/GameStop-Appoints-Reginald-Fils-Aim%C3%A9-William-Simon-and-James-Symancyk-to-Board-of-Directors-and-Enhances-Corporate-Governance-to-Drive-Ongoing-Business-Transformation.html](https://www.globenewswire.com/en/news-release/2020/03/09/1997507/0/en/GameStop-Appoints-Reginald-Fils-Aim%C3%A9-William-Simon-and-James-Symancyk-to-Board-of-Directors-and-Enhances-Corporate-Governance-to-Drive-Ongoing-Business-Transformation.html) + +&#x200B; + +[https://www.sec.gov/Archives/edgar/data/0001817358/000119312520262578/d934024d424b4.htm](https://www.sec.gov/Archives/edgar/data/0001817358/000119312520262578/d934024d424b4.htm) + +As per the above sec filing: + +***Competitive Positioning*** + +For purposes of comparing our executive compensation against the competitive market, the Compensation Committee reviews and considers the compensation levels and practices of a group of comparable retail companies. In December 2018, the Compensation Committee, with the input of data and analysis from Meridian and the executive management team for compensation (i.e., our Chief Executive Officer, Chief Human Resources Officer and Vice President of Compensation and Benefits), developed and approved the following compensation peer group for purposes of understanding the competitive market: + +Advance Auto Parts, Inc. + +GameStop Corp. + +Ascena Retail Group, Inc. + +Genesco Inc. + +AutoZone, Inc. + +GNC Holdings, Inc. + +Burlington Stores, Inc. + +Sally Beauty Holdings, Inc. + +Caleres, Inc. + +Tailored Brands, Inc. + +Carter’s, Inc. + +The Michaels Companies, Inc. + +Dick’s Sporting Goods, Inc. + +Tractor Supply Company + +DSW Inc. + +Urban Outfitters, Inc. + +Foot Locker, Inc. + +Williams-Sonoma, Inc. + +The companies in this compensation peer group were selected using the following criteria: + +• + +Similar revenue size – 0.4x to 2.5x our last four fiscal quarters’ revenue as of the third quarter of 2018; + +• + +Companies primarily in the retail business; and + +• + +Similar business model and/or product. + +This compensation peer group was used by the Compensation Committee during 2019 as a reference for understanding the compensation practices of companies in our industry sector and compensation peer group. + +To analyze the compensation practices of the companies in our compensation peer group, Meridian gathered data for the peer group companies from public filings (primarily proxy statements). This market data was then used as a reference point for the Compensation Committee to assess our current compensation levels in the course of its deliberations on compensation forms and amounts. + +The Compensation Committee reviews our compensation peer group at least annually and makes adjustments to its composition as necessary or appropriate, taking into account changes in both our business and the businesses of the companies in the compensation peer group. + +In December 2019, the Compensation Committee, with the input of data and analysis from Meridian, approved the same compensation peer group for 2020 as described above. + +[https://www.gamesindustry.biz/articles/2021-03-25-reggie-fils-aime-to-leave-the-gamestop-board](https://www.gamesindustry.biz/articles/2021-03-25-reggie-fils-aime-to-leave-the-gamestop-board) + +&#x200B; + +Idk this seems like a MAJOR conflict of interest to me. And perhaps that's why RC kicked those two off the board. + +Looking at the stock itself: + +[https://whalewisdom.com/stock/aso-2](https://whalewisdom.com/stock/aso-2) + +We see ALL the big players are LONG on this stock. Both the SHF and our "loving whales". + +Citadel, Sussssquahana, Jane Street, BOFA, Morgan Stanley, Goldman, and for some reason Blackrock and Vanguard. + +&#x200B; + +https://preview.redd.it/u5higr3ugkm71.png?width=3753&format=png&auto=webp&s=b63becaf2c834d92dddf0f1a57c0f60f77da6672 + +Zoomed in for easier mobile viewing: + +https://preview.redd.it/179pmohchkm71.png?width=1145&format=png&auto=webp&s=238b3573fccc63b071e10a83bc3e62440b118b47 + +MAJOR conflicts of interest arising here. + +I'm not saying this one stock is the MAIN reason for the shorts on GME, that would be silly. + +But what I am saying is that it's finally a direct link and connection for a conflict of interest to put sleeper agents on GME's board and run it into the ground and RC probably knew this when he cleaned house. + +Why BR and Vanguard are on the list, idk. + +But this isn't even the good part. It's just a treat that was found on the way to the destination. + +Remember, we're trying to understand WHY Anthony Chukumba of Loop Capital has so much hatred for GME. + +Back on that track: + +Remember: Loop Capital is also JLC. + +Back to this: + +[https://www.sec.gov/Archives/edgar/data/0001713119/000101297519000672/xslFormDX01/primary\_doc.xml](https://www.sec.gov/Archives/edgar/data/0001713119/000101297519000672/xslFormDX01/primary_doc.xml) + +&#x200B; + +Credit Suisse listed as Sales Compensation. + +As of 11/12/2019, they've sold $342,121,212 worth of what ever this pooled investment fund is. Hiding under the 1940 Investment Company Act to not disclose fuck else about it. + +&#x200B; + +https://preview.redd.it/x5c94yifkkm71.png?width=1003&format=png&auto=webp&s=8d839b0847ca4e7a7672b442c4eb4e953d65f036 + +At the bottom it says "The total amount of Sales Commissions and Finders Fees paid in connection with this offering will be determined at the final closing" + +This means we have no idea how much money has been paid to Credit Suisse and won't know until the final closing of this offering. And SINCE IT'S AN INDEFINITE OFFERING, we will never know. + +Nice way to hide some shit. + +There's 8 investors as of 2019. They haven't filed shit since then on this. I wonder who these 8 investors are? + +Here's an ADV filed July 2021 + +[https://sec.report/AdviserInfo/Firms/287638/Form-ADV-287638.pdf](https://sec.report/AdviserInfo/Firms/287638/Form-ADV-287638.pdf) + +Here's a list of 10 investors. It's more than likely that our 8 on the previous form are of these 10 on this form. + +&#x200B; + +[Remember Presidio because it's the main plot twist at the end.](https://preview.redd.it/d9xq192xlkm71.png?width=2002&format=png&auto=webp&s=1568e2296ae099530cb05c494ea169fa6fda152f) + +&#x200B; + +And some other easier to read thing pointing to basically the same info: + +[https://investingreview.org/firm/jlc-infrastructure](https://investingreview.org/firm/jlc-infrastructure) + +&#x200B; + +First let's look at the Credit Suisse connection: + +[https://www.reddit.com/r/Superstonk/comments/ovvvjs/calculating\_the\_size\_of\_the\_hedge\_against\_credit/](https://www.reddit.com/r/Superstonk/comments/ovvvjs/calculating_the_size_of_the_hedge_against_credit/) + +Credit Suisse is receiving an unknown amount of money from Loop Capital on a form D/A using the 1940 Investment Company Act to report as little as possible (nothing) about the transactions. + +Credit Suisse also has 540k puts against GME. + +Loop Capital says GME is worth $10 according to Anthony Chukumba who says to "Sell first, ask questions later".. + +Draw what you will from this. + +But among the investors in this fund owned by Loop Capital and Magic Johnson, a name stands out. + +Presidio. + +Pressssssiiidddiiiiiooooooooo + +What does Presidio mean? + +&#x200B; + +https://preview.redd.it/c32v9jxtnkm71.png?width=845&format=png&auto=webp&s=e3e6ddd9720ef93c5a91793049111eddf28e1e83 + +A.... fortified military settlement you say? + +&#x200B; + +https://preview.redd.it/2eqmisawnkm71.png?width=746&format=png&auto=webp&s=437b4a9c914f8325dd7a15c1b34d99d366a1e5f5 + +&#x200B; + +So...... Presidio basically means a fortified military base. Or a.... a CITADEL. + +&#x200B; + +https://preview.redd.it/rlxh2xl1okm71.png?width=889&format=png&auto=webp&s=f270fb1615ed3966025ad954c5d4b951e6f6f687 + +https://preview.redd.it/t1ku8ttunkm71.png?width=743&format=png&auto=webp&s=6a5374ee9ebf3d4a72803a22a526a8957113bd4a + +Well this could just be a coincidence right? Anyone could call their fund Presidio. For this to be an actual connection, Citadel would have to have some fund called Pres......wait.... + +[https://www.reddit.com/r/Superstonk/comments/p1ofgr/billionaire\_boys\_club\_bbc\_episode\_10\_allinclusive/](https://www.reddit.com/r/Superstonk/comments/p1ofgr/billionaire_boys_club_bbc_episode_10_allinclusive/) + +&#x200B; + +https://preview.redd.it/df8lys2ankm71.png?width=1443&format=png&auto=webp&s=cd38cd179e5036d165c80025ed765c2551a2192d + +Here's the dots so far: + +LOOP CAPITAL MARKETS = JLC INFRASTRUCTURES = (Magic Johnson Enterprises) MJE LOOP CAPITAL = PRESIDIO = CITADEL. + +Ergo + +Loop Capital = Citadel. + +And that is why Anthony Chukumba says to "Sell first, ask questions later" and that "GME is worth $10". Because Loop Capital = Citadel. + +Thank you and goodnight. + +While researching all this, someone sent me: + +[https://twitter.com/DOMOCAPITAL/status/1436070429899337739?t=Pbi3ROIKi2b9fPWwPDiCjw&s=19](https://twitter.com/DOMOCAPITAL/status/1436070429899337739?t=Pbi3ROIKi2b9fPWwPDiCjw&s=19) + +Which basically ties everything I just said together. + +Someone tweet this to Domo. + +**TL;DR Loop Capital and Magic Johnson pays Credit Suisse an unknown amount of money from a 343+ million dollar fund, which has Presidio as an investor. Presidio means a fortress. As does Citadel. Citadel has a Presidio fund with 150 million dollars. Loop Capital = Citadel.** + +**Citadel is long on Academy Sports and Outdoors, Inc along with all the other SHF, and potentially had sleeper agents from ASO on GME's board of directors to run it into the ground, which RC probably knew because he kicked those guys off the board.** + +&#x200B; + +Edit: + +Presidio Capital Holdings, LLC has no website, no data to find. They are a private fund with no filings. + +The ONLY mention of them we can find is on the D/A form for the JLC filing listed in the post, and also this page: + +[https://opencorporates.com/companies/us\_de/5662023](https://opencorporates.com/companies/us_de/5662023) + +They have listed an agent address as: + +251 LITTLE FALLS DRIVE, WILMINGTON, New Castle, DE, 19808 + +&#x200B; + +https://preview.redd.it/ncenticl7lm71.png?width=1296&format=png&auto=webp&s=b27f2cb35695d4bd1db86bcefe4b2cc6bb12e56f + +&#x200B; + +Note this page on Citadel: + +[https://opencorporates.com/companies/us\_de/3024697](https://opencorporates.com/companies/us_de/3024697) + +&#x200B; + +https://preview.redd.it/i3cfhu9m7lm71.png?width=1283&format=png&auto=webp&s=64439adc851f1d9483247d590a7b6b6e6d0ece86 + +Listing the same address. + +I submit to the Ape court the above edited evidence and consider the case closed. + +&#x200B; + +Edit 2: + +Can someone confirm this with a video? + +https://preview.redd.it/o3ng8qh8flm71.png?width=1166&format=png&auto=webp&s=a58a170a90e4e39905053c948a2f67e27fd837a4 + +Edit 3: + +Ape sent me a msg saying he thought it was mad money but it was actually "The Exchange" + +Clip here: + +[https://www.cnbc.com/video/2021/09/09/academy-sports-outdoors-stock-has-more-than-doubled-this-year.html](https://www.cnbc.com/video/2021/09/09/academy-sports-outdoors-stock-has-more-than-doubled-this-year.html) + +CNBC shilling this shit hard tho. + +&#x200B; + +Edit 4: + +Cramer shilling for ASO + +[https://www.youtube.com/watch?v=HQ2Sd2RcAyY](https://www.youtube.com/watch?v=HQ2Sd2RcAyY) + +&#x200B; + +Edit 5: + +Could this be what DFV meant by this? + +[https://twitter.com/i/status/1380143475841249281](https://twitter.com/i/status/1380143475841249281) + +and this + +[https://twitter.com/i/status/1383080240520388610](https://twitter.com/i/status/1383080240520388610) + +&#x200B; + +Edit 6: + +A beautiful ape sent me a message. + +*"More ties back to Citadel, eg Magic + Guggenheim Financial + Chicago Fundamental + Citadel"* + +[https://thecafe.org/what-is-magic-johnson-doing-with-these-chicago-investors/](https://thecafe.org/what-is-magic-johnson-doing-with-these-chicago-investors/) + +***"Former McDonald’s CEO Don Thompson and Guggenheim Managing Partner Andrew Rosenfield are among the 10 or so people backing the effort so far"*** + +\*\*\*"\*\*\****Chicago Fundamental co-founders Levoyd Robinson and Brad Couri grew up on opposite ends of Chicago and became close over two decades working together at First Chicago Bank and hedge fund Citadel before founding their firm in 2005. Now it has $1 billion under management."*** + +&#x200B; + +Edit 7: + +I completely forgot to post this. I had this open in one of the 100 tabs that were open at once. But a kind gentle ape has just sent me a msg which reminded me saying: + +Did you know that Loop Capital participates in PFOF for order flow and routes customer orders through Citadel? ([https://web.archive.org/web/20210709213825/https://www.loopcapital.com/sites/default/files/4Q%202019\_LCM%20Rule%20606%20Report\_FINAL.pdf](https://web.archive.org/web/20210709213825/https://www.loopcapital.com/sites/default/files/4Q%202019_LCM%20Rule%20606%20Report_FINAL.pdf)) +Think about it. The SEC has been absent from the fight for better markets for a long time and now there is a new sheriff in town. By participating in the creation of new rules via commenting and interaction we can be part of the solution. Shitadel an friends act in shadows, we Act in daylight. We should represent the future as we seek it to be. Be respectful and Gary Gensler will see us as an ally in the quest for fairer markets. + +By doing so he will also make the Hedgies bleed harder and eventually cause MOASS. 😎👍🏻 + +TLDR: Gary Gensler deserves the benefit of the doubt and we can be part of the solution for better markets. MOASS is only denied by bad players. Change for better markets helps MOASS happen sooner I believe. +I know someone asked this a few years ago, but I would like to ask again. What did you do with your econ degree outside of finance? What jobs/careers can I get with an econ degree outside the finance/ tech industry? What jobs/careers are available to econ majors? + +&#x200B; + +I am a third-year college student, and I'm worried I picked the wrong major. I love creativity and design, along with math and social sciences. What creative jobs/careers can I pursue with an econ degree? I'm not sure why I picked econ as my degree, my life just lead this way so far, and now I'm worried. +I was checking my credit reports and I found a Wells Fargo credit card opened in my name. I have never dealt with Wells Fargo. + +The account was open from 12/2013 to 4/2014. It had a $5000 limit, and the "high credit" listed on my credit report was for almost all of it. It was paid on time, and then closed. + +I have a lot of questions. Since it's for a closed account with payments made on time, should I report it to the credit bureaus or just leave it alone? Does this mean my information has been stolen? Should I file a complaint with someone, since this is probably a fake account created by Wells Fargo? +Ethereum is a decentralized network. The "right way" to perform transactions in the network is for you to connect to the network **directly** and to submit your own transactions **directly**. This would require you to run a wallet or node that connects directly to the network. This would take longer for you to set up and you'd have to download (at least part of) the blockchain, maintain it, maintain peers, etc etc. + +MyEtherWallet, a 100% free and 100% open source project. They are nice enough to do all this work *for your convenience*. They run their own nodes, synchronize the blockchain, and push *your transactions* to the blockchain *for you* free of charge, and that's on top of them providing all the beautiful wallet generation tools for free too. + +So instead of moaning on about how awful MEW is because your ICO purchase didn't go through... first realize that + +1) you're complaining about a free service that thousands of people are trying to use at once. Unless you're going to donate 100 ETH to them to cover their server costs then your complaints are impractical. + +2) You're complaining about something without understanding how it works, and you don't even realize you're also doing it wrong to begin with. If you want a 100% reliable wallet 24/7 then you have to go set one up and maintain it yourself. So quit complaining about the people nice enough to let you use *their node* at *their expense* for free because you are too lazy to set up a proper wallet/node yourself. + +3) the status.im contribution page listed *five different ways* you can contribute. *Three* of these ways connect directly to the network and they even provided *video tutorials* on how to use them. These would've solved your problems today. You quite literally tried spending hundreds or thousands of dollars on something without reading the instructions, and then when things went wrong you decided to blame the good guys at MEW, who are the only party in this equation not making money from the ICO, by the way. +Hey everyone, + +I love seeing the hype building around the earnings call today. Really proud to see so many of you paying attention to these things. Who would have thought that one year into this mess, we'd still be teaching retards how to read numbers. + +It's apparent that many of you are looking really far into things without any reason to do so, and that is causing a lot of "hot air". We have no idea why the earnings call was moved forward (I can't even tell if it was moved at all). I personally think it would be a bit f\*ckey if they didn't expect some good news today (given the significance of St. Patty's day) but we have no idea if it has anything to do with RC's father's birthday, the death of the death star, pirates, or any of these things. + +The "market" is pricing GME **earnings / share around $0.84** and **revenues around $2.2 billion.** While I hope to see the actual results break these expectations, those are not unrealistic targets. One thing I look forward to hearing is the inventory turn-over between Q3 and Q4. They had a pretty big supply of inventory going into the holiday season and that could be huge, especially if the competition was facing supply issues. + +I trust the big changes that are being made to this company and those big changes can take time to pay off. Like many of you, I am in this for the long haul and will not be broken if the results are less than the hype. + +So please, manage your expectations and don't look too far into things. The last thing we want is for people to get uber upset over something that wasn't valid to begin with. Let's hope for the best and plan for the worst. + +**DIAMOND.F\*CKING.HANDS** +Context: + +* Introduction ([https://www.reddit.com/r/fatFIRE/comments/pyqf2a/confessions\_of\_a\_hectomillionaire\_part\_1/](https://www.reddit.com/r/fatFIRE/comments/pyqf2a/confessions_of_a_hectomillionaire_part_1/)) + +\------------------------------- + +I was really at the right place at the right time to make the \~$30M windfall at the company IPO. Some of my co-workers argued it was not luck! We worked hard for it. Well my brother is a small business owner and way more hardworking than me. His net worth is nowhere near mine. Attributing this windfall to primarily hard work is just silly. It is true that there are tech executives who jump into late stage startups at just the right time and they could make tens of millions dollars per company if they have good judgment and the right skills. I would call that hard work plus good judgment. But that was not my case. I joined a very risky startup early enough to make the life changing windfall when the company truly took off. But if I looked at the risk/reward expectation of the company today, it was actually not a very good risk. I was lucky. + +There was a 6-month lockup before we could liquidate any of our stock so there’s a bit of time to prepare for it and it’s nerve wrecking seeing the price volatility. That was a decade ago, the stock market was not always up to the right. Earlier in my career, I was in a very unhappy job so I read a lot of FIRE stuff. I was an avid reader of the Retire[ Early Home Page](https://retireearlyhomepage.com/reallife21.html), which has lengthy analysis about SWR. I became quite financially literate because of that lousy job. I already had a vanguard account for a few years at the time of IPO. I had a pretty good idea of how to diversify the company stock from an implementation standpoint. + +I did talk to a handful of FAs. There are advisors from big banks who said they only take clients with $25M+, multi-family offices, index fund shops etc. But they were all trying to charge me 0.5 -1.25% AUM and I had to give them discretion to basically let them do whatever they saw fit. That was like $150K - $375K a year, which I found absurd. Here are some pitch points I heard from them: + +* They will manage this money well for me. I can focus on living and I don’t have to worry about my finances as long as I stick to a budget. They would be a steward of my money and help with big purchases, estate planning and handle friend/family money requests. I can focus on living the best life instead of worrying about mundane things like portfolio construction and risk management. +* They will do quarterly reviews and reporting and help with budgeting, goal setting and generational financial planning. +* They will get me a group of people who are in my situation. We rich people can all hang out with one another and we can learn fancy things like philanthropy or exotic red wines. +* I am a special snowflake and I will feel even more special with their service. I can get them to pay all my bills. They can help me book travel and get tickets to exclusive events. They could basically become my personal postmates, task rabbits and uber combined before those services were even available. +* They are good at money management and they can sell some calls and puts to generate income so I don’t need to worry about the 0.5% AUM. +* They can get me into exclusive private deals and IPOs that I won’t be able to get into myself. + +The first two bullet points are quite valid and can be real value-adds. But I couldn’t fathom paying my FA about one Lamborghini a year for their service. Am I getting a Lambo’s worth from their annual service or would I rather enjoy buying an exotic car each year and manage the money myself? That’s a tough question! One FA was acting like he was my friend and wanted to get to know me and my family. Am I supposed to share my darkest secrets with this guy?! That’s a big ask. Another FA was more gentle and asked about my plan. I told him I was thinking about selling enough to cover my farFIRE expenses and let the rest ride. But then he asked why I wanted to keep speculating on individual stocks. I already had enough and what’s the point of taking extra risks I don’t need? I supposed he had a point but am I being paid by this guy? Why was he lecturing me? In the end, I didn’t click with any of the full-service FAs. I implemented a very simple plan with a DFA advisor that charges a flat annual fee and pretty much manages the money myself. IMO, money management is very important for a FIRE life and the risk of outsourcing my whole financial life was simply too high. One month after the lockup expires, my after tax portfolio looks roughly like: + +* $15M into a DFA portfolio. 65% equity. 30% fixed income. 5% commodities. +* $5M mostly in cash and some other investments/savings prior to IPO (plan for investing into other discretionary and real estate investments) +* $1M real estate equity +* $10M company stock +* $2M into DAF/Foundation + +I did give a big bank a pool of money out of the 5M to manage to try it out. They were pitching me how they could upgrade my regular banking experience such as dropping off foreign currencies when I need to travel, skipping the waiting list to get a deposit box, discounted mortgage rates, etc. I tried them out for about a year. That year the stock market went up for at least 20% but the portfolio big bank managed for me returned a whopping 0.5%. There were tons of buying and selling but in the end it didn’t generate a return for me. I am sure it generated tons of transaction fees for the bank. I pulled out and decided it’s a waste of time talking to FAs. I know how to do it. + +The $15M portfolio generated the income we needed. It was projected to generate a bit more than 2% a year and a good portion of it is from tax-free MUNI. Along with the cash pile we have, our income needs are satisfied. With the cash pile though, the investor in me did have the urge to invest it quickly into productive assets since we have the $15M income producing asset already. I had zero experience but the risk taker in me started making angel investments and becoming small LPs into small VC funds. These alternative investments turned out to work really well with the great software-eating-the-world trend. I just did a quick tally and realized that I have so far plowed in almost $10M into angel investments/VC funds. But the projected unrealized values are between $25-$35M+ and I have got about $4M distributed back to me. Angel investments turn out to be a very viable asset class for the 2010s. Would it continue to perform into the 2020s? I have no idea. But I also believe I am better at investing in early stage companies after seeing plenty of successes and failures. Since I have nothing else better to do, I decided angel investing is going to be a focus. Hopefully, I can generate some future returns. If not, I could see it as an investment into human capital. + +Over the years, we paid off the mortgage of our primary residence (acquired before lockup expiration), bought a beach house and a few rental properties. The company stock was doing really well and we keep diversifying regularly. I wish I was more disciplined but I really was not. I would sell the stock when I thought the price was too high and it only went higher. Or I would try to wait for a higher price and then panic sell when the stock dropped suddenly. I think I am probably only slightly better than an average Robinhood user since I don’t YOLO into options. Based on long term total returns, I suppose we are doing alright. But I am pretty sure if I traded less frequently and just did it on a schedule, my performance would have been higher. The proceeds would go to individual stocks, real estate, angel investments, more index funds we build ourselves on vanguard. As mentioned in the previous post, today my portfolio looks like: + +* Index Funds. (Mix of DFA/Vanguard): $30M +* Concentrated Portfolio (kept some IPO stocks and other speculations including crypto): $45M +* Foundation/DAF: $5M +* Real Estate (incl primary residence, beach house and 4 rentals): $15M +* Private Investments (angel investments + vc funds): $25M - $35M+ + +I am at a point that I am done with real estate. I prefer passive investing and real estate is too operational for me. Sure I have property managers but structures get old and need repair. Some tenants are causing drama. The yield is not great. I also don’t have any mortgage on my properties any more and I dislike debt. Without leverage, real estate doesn’t really generate good returns. I will leave the properties I already have alone but I don’t plan to acquire more. I have constant work going on with my primary and secondary residence, which is a thing for most rich people I know. My mental space reserved for real estate is full and I can't take any extra load. + +My portfolio is currently in maintenance mode. I am basically only selling concentrated portfolios to make more private investments. As mentioned above, I received about $4M back from my private investments already. If I received public stock, they went right back to the concentrated portfolio and can later be liquidated for future investments. I have a nice flywheel going on and I can probably keep doing this until my official retirement. I don’t worry about tax too much. I just pay for it. It's an outrageous amount of money but I need to liquidate the stocks for a purpose. I don’t see any other solutions that are really worth the risk. + +A big drawback of managing money myself is I don’t have a good reporting system. I try to do a snapshot every quarter but I don’t have the discipline to do it religiously, especially when it was a big down quarter like March 2020 or December 2018. It was too depressing to make the report. I also made some stupid mistakes speculating like buying cheap small cap or large value stocks that are going downhill. I made up these stupid mistakes by buying into BTC and ETH early. Overall, my speculation is doing well. But it’s kind of a waste of time given these trades were less than 5% of my overall portfolio. I could have used that time making reddit posts but I chose to speculate on stupid stocks. That was a missed opportunity and a regrettable life decision. I don’t really trade individual stocks any more. I still need to liquidate my holdings regularly as mentioned but the mental energy spent on trading individual stocks could have been spent more wisely. + +Remember that FA who told me I should sell all my company stock because it’s not worth the risk? I understand his point but I found the logic incomplete. If a client walks in with $300M concentrated stock, is this FA also going to sell all the stock and diversify into a 50/50 portfolio? How much index fund does a person need? Another school of thought is “Ask yourself, if you are starting from cash, how much company stock would you buy?”, which ignores the path dependency nature of the stock diversification and tax considerations. My philosophy is that one should take the maximum amount of risk they could on their risk capital. Risk capital is defined as money one doesn’t need and of course, the risk one takes should be right on the efficient frontier. Translating what I just said into plain English is that I believe $15M is all my family and I need to live a good life and I can use the rest to make smart bets to optimize my return. + +My plan works well for the 2010s. I was deep into tech investments and I kept my cash level now. But if I implemented a similar plan in 2000 at the height of the internet bubble, my portfolio performance wouldn’t look good. According to the [Retire Early Home Page](https://retireearlyhomepage.com/reallife21.html) report, if I retired at the beginning of 2000 with a 60/40 portfolio and 4% portfolio withdrawal rate, at the end of 2010, my portfolio would have been 80% of my original investment. My tech investments would have been in deep sh\*t and dropped at least 50%. If I do a quick back of envelope calculation, my portfolio would have become $15M\*0.8 + $15M\*0.5 + real estate equity =\~ $20M after 10 years, a ⅓ drop. But I think I could live with that. Of course my timing turns out to be great but my general point is that only risking the risk capital is the key to uncertainties and opportunities we are facing. + +It’s probably not surprising to you that I am not a big spender. I am more of a saver and optimizer. We will talk about spending and expenses in the next post but we are able to stick to our budget really well and never spend over budget in the past decade. We did buy all the toys we wanted in the first few years and went on expensive vacations. But we stick to a generous budget and overtime, our spending actually goes down because novelty does wear off. Once I knew what it feels like to be on a private jet, I just don’t feel like taking it again because you know I could buy a Submariner if I am willing to cram into a commercial flight for a few hours. Since I have lounge access, it’s really not that bad flying commercial. + +The last thing I want to point out is that please don’t confuse consumption with investments. Investing in films, restaurants, wineries, art galleries or hospitality industry in general is not \*investing\*. If you are \*investing\* in something for bragging rights, it’s a consumption decision. There’s nothing wrong with that and I have done a couple of those. But I classify them into the expense categories and I think my watches are probably generating better returns than these as a whole. My investments are generally long term boring holdings that grow well YoY with high margins. I do make some \*impact\* investments that are supposedly to be long term sustainable businesses and may or may not deliver returns. I classify them as investments as of now but I might make them from my DAF in the future. + +I focus this post on the technical aspect of what I do with my portfolio. There’s also a psychological and philosophical part of it. Things like why I do what I do and why I take the risks I take. These are deep personal questions. I was trained to always improve what I was doing as a student and a corporate employee. Naturally I do the same thing for money management. Eventually I have to think beyond growing the portfolio but I am not there yet. I spent a good amount of time and energy on non-profits/philanthropy but as mentioned in my previous posts, I was not a fan. If my early stage investments go bust like what happened in 2000-2002, then I don’t have to worry about any of these any more. But if things go well, I will need to proactively make some changes. I don’t have answers to everything. I am a mere-mortal and I am constantly learning and adapting. + +\------------- + +Next week I will post about Expenses and Living with No Financial Constraints +I feel the need to dump some of my thoughts. It's apparent that lot of ETH investors don't understand what they own, and are just acting based on speculation of market cycles. By the end of this post I hope to help a few of you know a little more about what you own (or what you are thinking about owning) and why the current bull market is just a cherry on top of something much larger. + +Here are a truckload of hugely positive things that *have not yet altered* the price of ETH*:* + +* [EIP 1559](https://notes.ethereum.org/@vbuterin/eip-1559-faq), **THIS UPCOMING SUMMER:** + * Slashes mining profits and therefore cuts new ETH entering the economy. Miners are the most consistent sellers of ETH. Less new ETH entering the market means less ETH available to buy. This means the cost of ETH goes up significantly relative to current prices. + * Fee burning - destroying a portion of the ETH used in transaction fees. ETH actively leaving the market means even less ETH available to buy. ETH goes up even more. + * Both of these effects will take months to ripple through the exchanges, but their effects will be huge. Look at the regular [Bitcoin Halving](https://www.investopedia.com/bitcoin-halving-4843769) event for reference, and be patient. Supply/demand shifts take months to hit prices. +* [The Merge](https://ethmerge.com/), **THIS UPCOMING WINTER**: + * Mining ETH will be a thing of the past. Instead, all new ETH will be given to wallets that stake the ETH they already own. Basically, for putting the ETH you hold into a staking pool, you will be given more ETH at a rate of about 7% of what you own per year. That's a really generous interest rate, making ETH a competitive investment for the wealthy *even if the price of ETH stagnates.* + * BUT - this will happen while ETH also continues to grow in value. Your existing ETH goes up, and owning ETH also gives you more ETH. In fact, this will be the *only way* new ETH is minted from then on. This is a *massive* incentive to sit on a pile of ETH, and only sell what you need to pay bills. Again, less selling means more expensive ETH. + * This will also take months to ripple through exchanges as it's a supply/demand shift. Be patient. +* [Sharding](https://ethereum.org/en/eth2/shard-chains/) in **2022:** + * This is a big one because a lot of seasoned crypto traders expect a bear market to start in 2022. I do too, but 2022 will be the year that Ethereum's adoption as technology takes off in a real way. With the implementation of sharding, and [eWASM](https://medium.com/chainsafe-systems/ethereum-2-0-a-complete-guide-ewasm-394cac756baf), Ethereum is going to change the world. That doesn't mean the bear market won't hit us, but it means one of two things: either the bear market's impact on ETH will be dramatically reduced, *or*, we're about to experience the buying opportunity of a lifetime before ETH goes wildly parabolic at the end of the bear market. + * When ETH 2.0 is fully deployed, the network will have gone from processing just over a dozen transactions per second (as it does today), to about 100,000. A speed increase of 10,000x, and an equivalent gas fee reduction. I'll let you decide whether or not you think that will make more developers, governments, institutions, and even just regular people want to use the Ethereum network. +* Public opinion and knowledge: + * [**The flippening**](https://www.blockchaincenter.net/flippening/) **is coming. It's not an if. It's a when.** It may literally even be this year. When this happens the average joe news media is going to erupt. Public opinion will shift. Ethereum will be a household name. In a few years, family will be *approaching you* to ask about staking ETH, instead of you just talking their ears off about how you've doubled your net worth in a single month. + * **Look at that graph in the flippening link -** The flip was on its way to happening before the crypto crash. ETH 2.0 is coming. This is not a question of "if". I don't know how anyone can look at that graph in the context of ETH 2.0 and deny that the flippening is coming very soon. +* Tech adoption: + * NFTs are going to be an enormous part of the future. Everything about the technology just makes sense and solves so many problems. We will see house deeds, permits, digital assets, bonds, video game property, wills, maybe even voting systems... all take place on-chain. Many of these will be *side chains running on Ethereum*. NFTs also allow something really cool - physical and digital assets tying together. Imagine buying a concert ticket and later receiving an NFT of the band taking a crowd-facing selfie *at that concert*. Incredibly cool stuff. This is the future we are about to live in, and *very* soon. + * After the ETH 2.0 merge, the Ethereum network will be world-changing technology, in fact, it is getting there already and we've not even taken off yet. People who aren't familiar with terms like "L2 scaling" and "settlement layer" won't be able to follow, but you'll have to believe the nerdy folks. This is big. Bigger than big. This will be the quiet superhighway beneath the world, and the profits it generates will go directly to those staking and hodling their ETH... that's *you.* + +All of the coming benefits above are multiplicative with one another. + +Multiplicative benefits are what cause parabolic growth. + +**Some of my fun predictions as of 5/9/21:** + +* Bitcoin is about to go on a Summer tear. I expect within a few months it will run up over 100%, and it may leave 5 digits for the last time. It will outperform ETH for a short period, but ETH will still dramatically outperform it over the next 8 months overall. +* Sometime in the next few weeks ETH will see a significant but temporary pullback or an extended stagnation. We really need to shake out some paper hands. My guess is that this happens between $4800 and $6000. +* By January 1st 2023, Eth will have spent a significant amount of time around $50,000. I'm making this claim assuming no catastrophic USD inflation. To make the point, I will also claim it will hit 12x its current value (as of 5/9/2021) relative to every fiat currency. +* By 2025 you will be able to use a wallet containing either [gwei](https://www.investopedia.com/terms/g/gwei-ethereum.asp) or [satoshis](https://www.investopedia.com/terms/s/satoshi.asp) to purchase almost *anything* that you can purchase with a debit card in 2021. Your house and car deeds will exist on a blockchain if you so desire. You will personally own NFTs, even if you currently think they are silly. + +To conclude, it is my belief that the $10K ETH claim is made based on market cycle analysis alone. It doesn't even consider ETH 2.0, technology adoption, deflationary indicators, or market actualization. $10K is a joke, $10k will happen below the flippening. I believe those that permanently leave ETH at $10k will be haunted by that decision for the rest of their lives. + +How many times have you heard "is that another Bitcoin? I don't get involved in that crypto stuff." The people saying this to you today will be putting ETH in their IRAs and 401Ks in a few years. You are not just early, you are *insanely* early. **Nobody outside the crypto community even knows what Ethereum is. Let me repeat that -** ***Ethereum is worth $400 billion, and the vast majority of all investors still don't even know what it is.*** + +$5K is a great price. $10k is a great price. + +Your Lambo, your custom house, your pool.. they don't exist yet, but they are coming. + +This is not a drill. + +HODL. + + I'm not a financial advisor, I'm a network engineer. These are my personal beliefs. This is not official investment or financial advice in any capacity. +Hi, + +I work with this project. No shitting, I told my wife 6 months ago that I would bet we would get directly involved in this madness and it happened yesterday. +I have a role in building the infrastructure for these new NFT plays. Let's just say that this is an INSANE COMPANY. 25m esports athletes on FACEIT and 270m on ESL. And NFTs are NOT what you think they are.. The use cases are staggering. +I can promise you guys this is an insane move from GAMESTOP. + +HODL, HYPE, AND HOPIUM ALL WEEDend LONG! + +Announcement links: +https://twitter.com/esl/status/1489637520296001540?s=21 + +https://kotaku.com/esl-faceit-esports-public-investment-fund-saudi-arabia-1848413393 + + +Edit 1... + +Wow...as always.. Best community ever. Thanks apes🙏. I did not expect this interests, so maybe I should elaborate a bit. My job is actually to find new products and brands to partner with the 300m users. +I started with FACEIT 25m esports enthusiasts. That was insane in it self. I actually reached out to Tom Petersen and a couple of others from GAMESTOP team. But no answer. I wanted to integrate their shop with 25m gamers. I think that partnership would be INSANE. The FACEIT got merged with ESL and DREAMHACK - now it's just madness. If you also think this is a match made in heaven... Let me know below... Ideas? What kind of NFT product would you like to see at esports? At FACEIT? At broadcasts etc... I will bring it to the table... And I can. If MODS want to get my real identity and job, just reach out. +I also work with a large social platform, independent of the BIG TECH asshats. They mentioned last week a NFT meta verse with our friends from GAMESTOP. I find myself in the middle of the actual battle. NFT have a lot to do with INTERNET IDENTITY. And I don't think we have covered that on this sub. Cookies are going away... This changes the whole ecosystem of retail and online shopping. I believe they know this at GAMESTOP and are doing a larger play. It's a bit complicated, but extremely powerful. +From my seat GAMESTOP is going to surprise us all very soon. NFTs use cases goes above and beyond the small pixel images... Its an identity play. And that's exactly what makes GOOGLE, FACEBOOK, MICROSOFT, AMAZON AND APPLE so powerful. So am I saying GAMESTOP could go heads up on this... YES! We are cutting these big techs OUT. +Bye.... You like? + +Edit2 +Questions about why SAUDI fund involved? + +... Alternatively MICROSOFT, APPLE, AMAZON, FACEBOOK OR GOOGLE would have taken over. But these founders would rather eat RAMEN the rest of their lives. Yes... Saudi better... They left the power with the (Players) founders. And they have a 3bn war chest plus 1 trillion oil money fund. Vertical changing kinda money... They are not a "hands on" fund. This is the way ESL/FACEIT can team with Ryan and make my words come true : +PLAYERs WILL CHANGE THE WORLD..... +See you all on the server? +Should we print some Brand Sponsored premium FACEIT account giveaways for Superstonk??? 😁😁😁 Will do my best to help my wonderful community! +All 800k of you🤗😇🚀. + +EDIT 4 +Just remembered this from 2017..... +Not like they don't know each other 🤔 +https://www.eslgaming.com/article/get-ready-upcoming-gamestop-hometown-heroes-injustice-2-tournament-series-3521 + +EDIT 5 +Am I saying ESL and GAMESTOP has partnered? NO! +I don't know.. Just that I'm making the most INSANE NFT PLAY in the world and then a huge merger and this twitter.... 😉 +And Gaming services, tournaments, digital properties, NFTs and ANTICHEAT are main products. +Kenny you hear? ANTICHEAT! You are getting EZ VAC.. +(GAMERS lingo🤣🤣) + +EDIT 6 +Is OP gamer? +Cyka jebani indinahui! +CYKA BLYAT KENNY 💣 + +EDIT 7 +What are the other use cases like identity.. Could you elaborate OP? + +I could tell you how we increase the demand on NFT minting with a factor 1 million moving from the gimmicky way its being used today, to future advanced functionalities with much more profitable use cases. +Not kidding... Just as transformative as SHARES ON BLOCKCHAIN. But its too confidential. And off topic maybe? I think what we all hope here at our company is that it ends up in one big party on the floor with GAMESTOP. Just trust me, GAMESTOP is in a good position. And the opportunities in their NFT play goes beyond and above ANYTHING discussed in this sub ever. Totally different direction in the mid/long run. But it will be clear... Brick by brick.. + +EDIT 8 +Is this changing GME stock? +I don't expected this reaction here, and don't expect it to do anything to the stonk unless things get real.. I don't have any knowledge that that should be the case more than ESLs tweet and my own NFT projects which I will use GameStop for if possible. + +EDIT 9 + +IMMUTABLE reacts back to ESL: + +NFT gameplay for ALL partners + +https://twitter.com/Immutable/status/1489825800899551232?t=YHa3y6iYjixGnSCKK5LaMQ&s=19 + +More links: + +ESL FACEIT PARTNERS WITH IMMUTABLE +https://sportskhabri.com/esl-secures-immutable-x-partnership/ + +https://www.eslgaming.com/article/esl-partners-immutable-x-launch-next-generation-digital-nft-collectible-platform-csgo-fans-worldwide-4439 + +https://coinculture.com/au/currencies/australia-crypto-company-immutable-x-plans-for-cs-go-nfts/ + +https://twitter.com/Immutable/status/1489768162254266369?t=Q-LdJTNp1b9sdPA1n5LaQw&s=19 + +JOIN AMA ON IMMUTABLE AND GAMESTOP +https://twitter.com/Immutable/status/1490138953977978883?t=c7pTzJjEm5Y-O-MQDJ2XRA&s=19 + +https://twitter.com/Immutable/status/1490138953977978883?t=c7pTzJjEm5Y-O-MQDJ2XRA&s=19 +Is it just me or is the "diversify into digital currencies" contingent as a path to fatfire a whole lot quieter in the past two weeks? + +Man, the folks who bought in at 60K must be really suffering. + +On the upside, think of the short term tax loss carry forwards they get to keep! +Anybody else noticed how insane fast food restaurants have become? + +I mean there seems to me like theres almost no difference now between fast food restaurants and regular non fancy restaurants. + +The other day i bought 3 burgers (just the sandwiches) at BK , shit costed nearly 20 dollars, the f**k is happening? +I just had informal conversation with a colleague of mine after work today and she was telling me about how much she's struggling to pay bills and save with the salary she makes. I started just around 2 months before she did but we work in the same position & department and we had pretty similar job experience before joining this company. She asked how I was managing with £27,000 per year, but I got surprised and unintentionally mentioned that I am paid £36,000. + +Needless to say she was very unhappy when she found out about the difference and will bring it up with our boss. Am I in any trouble here? + +EDIT: hey all didn't know this would blow up. Just wanted to share more info: I am a man. When I had my interview I went back and forth 3 times with the hiring manager and HR with pay because I didn't like the offer, I was initially offered £30k but at that time I had 2 other offers and I gave them an ultimatum that if I wasn't getting £36k then I'm not taking it. I'm in London. I don't know what my co-worker did and if she even tried to negotiate at all, we aren't that close personally. From what I observe she seems to be a 'yes person', never really argues at work whereas I tend to be more stubborn, so if regards to gender pay gap if that's what it is. Probably a lesson is fight what you think you're worth. + +The Head of the DTCC just confirmed live in the HFSC meeting that the only margin issue in January was Robinhood. Meaning that Melvin and Citadel were in fact not margin called in the January squeeze. + +In interview with + +\-18:00 and running timestamp + +Edit 1: Edit Deleted\* + +Edit 2: This means the shorts were never **forced to cover** + +Edit 3: This confirms Citadel and point 72 offered capital in January to Robinhood and Melvin to prevent a Margin Call on their own positions. + +Edit 4: Video here + +[https://www.reddit.com/r/Superstonk/comments/n6er77/holy\_balls\_from\_the\_dtcc\_ceos\_own\_mouth\_no\_margin/](https://www.reddit.com/r/Superstonk/comments/n6er77/holy_balls_from_the_dtcc_ceos_own_mouth_no_margin/) + +Edit 5: This does not mean they voluntarily covered this means they are most likely still holding their positions. + +Edit 6: Unclear Theory Removed\* + +Edit 7: For clarity, removed some more inflammatory wording this was written in a rush while I was streaming and live charting. + +**For this I apologize.** + + I do not mean this to imply that zero short positions have been covered on the stock as I do agree with some of the sentiment below that some short positions covered in January. But this does show pretty definitive proof that the 3 Billion lent to Melvin their $4.5B in losses and the $1B lent to Robinhood were all in order to prevent a margin call. + +That's 7.5 Billion in losses to prevent a margin call on Melvin. We know Archegos was 7x margined(Confirmed in today's HFSC meeting) from this we can infer from Melvin's 12.5 billion in holdings they may have had **up to** $87.5B held in margin. The actual number may not be this high. But there was definitely a vested interest in preventing a margin call on Melvin in order to provide them with 1/4 of their worth in an immediate loan. + +I do still contend that even at the lowest average price period from 2/2-2/24 the average price was 57.76 at this cost it would have been $4.62B to cover 80 million reported shares sold short. Additional that's only 17 trading days (3 of which had overall volume of less than 10 million)so they would have had to cover 4.705M shares a day or 200 shares per tick. There is no way to do this and keep the price at an average of 57.76. Nor have Citadel or Melvin disclosed financials to indicate losses sufficient to have bought in at higher prices. (Melvin $4.5B, and Citadel 3%) + +So this leaves us with the fact that $4.5B from Melvin and another $4B From Citadel and Point 72 were spent to keep Robinhood and Melvin from being margin called. The head of the DTCC also confirmed Robinhood's liquidity issues were immediately resolved so buying should have never been halted. That's $8 billion in liquid capital, and blatant fraud. Committed to prevent a margin call on Melvin. "As nobody was pushed into that position". +Edit 8: https://www.reddit.com/r/wallstreetbets/comments/n6i28o/did_vlad_do_a_perjury/?utm_medium=android_app&utm_source=share +Vlad did a fibby.... +I haven't felt the energy in this sub in a while. Tits are JACKED, hands are diamond (as always), and spirits are HIGH AS FUCK. + +I'm assuming it's a combination of watching the market implode, while we're green, plus the successful extermination of the majorest (is that a word?) FUD attack we've seen in a while. Hell, multiple attacks at once, and they were all defeated. + +This sub feels like it has a new lease on life right now. I've seen more new high level DD today than I have in the past few weeks combined. + +I'm just saying I've missed this shit. Bless you, you damn dirty apes. Keep it up! + +🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 +**Through a collab effort we've pieced together the smoking gun 🔫 We have the direct connection from Loopring source code and** [**gamestop.com**](https://gamestop.com) **🚀🚀🚀** + +This isn't another one of those mere github leak posts. This is the real deal. Gamestop and Loopring have shown publicly, albeit in a whisper, their passionate love affair brewing. "We're definitely fucking, and the baby will be cute af" **❤️**😉 + +Here's the technical proof for those who dare: + +1. [Proof the GameStop + Loopring GitHub leak was real.](https://www.reddit.com/r/Superstonk/comments/qwi9z3/proof_that_the_actual_gme_github_leak_was_legit/) Credit [u/PresenceSalt](https://www.reddit.com/u/PresenceSalt/) +2. [Additional supporting code review shows beyond doubt the leak was both accidental and not faked.](https://www.reddit.com/r/Superstonk/comments/qwi9z3/proof_that_the_actual_gme_github_leak_was_legit/hl3kj7y?utm_medium=android_app&utm_source=share&context=3) This post is pasted below so we can use the DD flair here. Credit u/dark_stapler +3. The gamestop link referred to IPFS data to extract NFT metadata. This was in the original GitHub leak, and referred to a sandbox link. [We see the SAME INSTANCE OF THIS METADATA ON GAMESTOP'S WEBSITE](https://www.reddit.com/r/Superstonk/comments/qwn8ct/nft_storage_deployed_to_official_gamestopcom/), [as noted a while ago](https://www.reddit.com/r/Superstonk/comments/qwoeuq/confirmation_loopring_and_gamestop_partnership/hl45nsz/?context=3) by u/hooper359. Here it is, check it out, the live IPFS matching metadata on gamestop.com! hahah! Credit u/vegoonthrowaway and u/hooper359 + +Through these connections we can see, without a shadow of a doubt, Loopring and GameStop are partnered and collaborating on the marketplace stuff!! + +I don't know what else to say. TO THE FUCKING MOON **🚀🚀🚀🚀🚀🚀🚀🚀** + +tl;dr + +Loopring leaked GameStop stuff in their source. The leak is (in my opinion) beyond a doubt legitimate confirmed through independent code review and pull request comment analysis. [Gamestop.com](https://Gamestop.com) has had data used in the leak live on their PUBLIC website! SMOKING GUN **🔫 Confirmed they are in cahoots ❤️** + +About as good as we can get short of an official announcement! + +\--- + +THIS IS A COPY + PASTED VERSION OF POINT 2 JUST TO ENABLE THE DD FLAIR (it has a minimum post length requirement) + +Professional dev here, I did review the [\*earlier leak\*](https://web.archive.org/web/20211028000950/https://github.com/Loopring/loopring-web-v2/commit/de1601d253991fd4c493a8d5629c02c7d38b5e23) and the public one that's [now actually a part of loopring\_sdk](https://github.com/Loopring/loopring_sdk/commit/e92e8189501063494222cbae60a5fb93baa2157a), and they are ***definitely very much the same. This proves undeniably that loopring and GameStop are partnered to make an NFT marketplace, given a couple assumptions listed below***. + +For example we can look at the function getContractNFTMeta. Please look at this [image I made](https://i.imgur.com/Y7IFK6s.png). + +https://preview.redd.it/ii7hfbf5ic081.png?width=1689&format=png&auto=webp&s=95cb4507c71b7ca0e89c104c2ec8544602a1163b + +We can clearly see four distinct pieces of code that are obviously copy + pasted versions of one another. The version on the left is implemented using hard-coded specific URIs pointing to NFT related files on gamestop's IPFS (inter-planetary file system) sandbox website. The code on the right is refactored to use abstract inputs, but would still be able to hook up to GameStop's NFT data since the logic of the getContractNFTMeta is identical. + +1. This is the function signature, the most important defining feature of this piece of code. It defines inputs and outputs of the function, and it's the exact same, though the whitespace was modified. It honestly looks like the whitespace was intentionally modified to "obfuscate" the code slightly and avoid the original GameStop leak. +2. The contract variable and how it's built is literally copy pasted. +3. The return result is also literally copy pasted. +4. The fine await and fetch response logic is identical, though the refactored version uses more abstracted inputs instead of any hardcoded GameStop data. + +There are even more similarities, but I think this is enough proof honestly. No need to go crazy and cover all of them. + +As a professional dev these two GitHub pull requests contain large chunks of the same code, albeit a refactored version. This proves beyond any doubt that as long as a couple assumptions hold true, loopring is confirmed working with GameStop on an NFT marketplace. Let me list the assumptions real quick. + +1. windatang works for loopring and isn't acting as a rogue agent making sneaky fake leaks. Edit: Confirmed, read below +2. [http://gstop-sandbox.com/](http://gstop-sandbox.com/) is actually owned by gamestop. Edit: this looks reasonably confirmed, see below + +Also it does look to me like windatang is a real developer on loopring and has push access to loopring's code on github. She also clearly writes English like a chinese non-native speaker. Source: I've worked with tons of Chinese non-native English speakers both here in the US where I live and overseas in mainland China. They always write broken English in a very specific way and winda's github PR comment style definitely matches to me. + +We can even see Daniel Wang (dong77) the loopring creator [commenting in the same pull request as windatang](https://github.com/Loopring/loopring_sdk/pull/5) and they are in agreement. To me this proves windatang works for/with Daniel Wang. + +For context: this is the fake PR that was made recently. We can see windatang saw it first and seemed to not know what to do with it. Clearly she asked someone about it, and was given permission or decided to just close it. She gave the excuse of "we don't support that" but to me she was just being polite. Then Daniel comes in to help take care of it. + +Judging the before/after progress on the two pull requests I would guess the product is at least a couple weeks away before it can go live, but likely a bit longer. They seem to still be adding quite a bit of new features at a quick pace. + +Credit to /u/vegoonthrowaway. + +>The contents of the gstop-sandbox website are live on the official gamestop website now btw. I don't know since when. This just about confirms your assumption number 2, especially since the contents on the gamestop website still reference the gstop-sandbox.com website as their ipfs-gateway. +> +>[https://ipfs.nft.gamestop.com/ipfs/QmPBvug4pYykDWosLUC7ReQo4vv1F9knd5fkTJr3bzPURp](https://ipfs.nft.gamestop.com/ipfs/QmPBvug4pYykDWosLUC7ReQo4vv1F9knd5fkTJr3bzPURp) + +There's still the tiny chance that loopring is just intentionally leaking fake info. This is because the [IPFS data has been up for a while now](https://www.reddit.com/r/GME/comments/osey87/new_subdomain_ipfsnftgamestopcom/) since before the Loopring GitHub leak. However, I don't see this as realistic. The simpler explanation seems to me the leak was an accident, especially given [the analysis](https://www.reddit.com/r/Superstonk/comments/qwi9z3/proof_that_the_actual_gme_github_leak_was_legit/) by [u/PresenceSalt](https://www.reddit.com/u/PresenceSalt/). Additionally we can see Daniel denounce a fake PR (linked above), but he has not denounced the original leak! 🤔 It's hard to express this... But as a professional dev I'd stake my career on this not being fake, there's just no way. Ask any experience developer and show them all the data points lined up in favor of the simplest explanation, and you'll get a consensus. + +Edit: actually it looks like some of the IPFS data wasn’t on GameStop’s public site until recently despite being referenced in the older leak. If true this means complete crosstalk both ways from loopring to GameStop. That means not possible loopring is faking. Can’t confirm myself, stayed up all night answering questions and need to sleep 😅 someone else take a look? Sauce: https://www.reddit.com/r/Superstonk/comments/qwoeuq/confirmation_loopring_and_gamestop_partnership/hl4rtnq/?context=3 + +Edit: thank you u/altnob for follow up about the ipfs stuff! Please read here https://www.reddit.com/r/Superstonk/comments/qwwyel/important_read_about_the_current_top_post/ +***0. Preface*** + +**TLDR:** This DD is a closer look at Shitadel's overall financial situation, based on several factors: their credit rating, most recent financial statement, and debt/borrowing status. My conjecture is that the publicly available information is intended to hoodwink the general population, regulatory bodies, potential lenders and those on the 'long' side of their bad bets, into believing that they are still in a strong position. However, I believe it does not take a huge amount of basic investigating to uncover evidence that their situation is actually (somehow) *even worse* than we typically believe it to be on this sub. + +&#x200B; + +***1. Does $4.2 billion in revenue really mean anything?*** + +The other day I made a shitpost regarding Shitadel's credit rating, which included this graphic illustration of where they fall in Moody's ratings scale: + +https://preview.redd.it/zjlq3sjwp9j91.png?width=500&format=png&auto=webp&s=ff7c6a8b246e4f018e14ccbb1accfbbebf229264 + +The inspiration for posting that was this Bloomberg news article that came out last Tuesday 16th: + +[https://www.bloomberg.com/news/articles/2022-08-15/citadel-securities-first-half-trading-revenue-hits-4-2-billion](https://www.bloomberg.com/news/articles/2022-08-15/citadel-securities-first-half-trading-revenue-hits-4-2-billion) + +https://preview.redd.it/q6caen4vaaj91.png?width=1768&format=png&auto=webp&s=a3dbd258cb71d5daf821ca9e62428d2fb993cb75 + +As this article defaults to being behind a paywall, here are the first three paragraphs: + +*Ken Griffin’s Citadel Securities raked in a record $4.2 billion in first-half net trading revenue, capitalizing on this year’s surge in market volatility and stepping up its competition with the biggest banks. Revenue soared about 23% from last year’s first half, according to people with knowledge of the situation. Citadel Securities has posted 10 consecutive quarters of net trading revenue in excess of $1 billion, with eight of those surpassing $1.5 billion, the people said, asking not to be identified disclosing private information.* + +*Volatility spurred by interest-rate hikes, surging inflation, recession fears and Russia’s invasion of Ukraine has benefited trading operations across Wall Street. The biggest US banks pulled in $29 billion in trading revenue during the second quarter, a 21% increase over the prior year. Leading the pack was JPMorgan Chase & Co., which reported a $7.8 billion haul from the business.* + +*Citadel’s figures are being disclosed to investors as part of a $400 million incremental loan the closely held firm is seeking, which will be used to build trading capital and for general corporate purposes.* + +The interesting things to note are the following: + +• The news is exclusively about Citadel Securities LLC, the Market Making entity of Shitadel + +• There is no mention of the financial situation of Shitadel's Hedge Fund entity Citadel Advisors LLC, which is holding the bags of GME shorts + +• Although Citadel Securities' revenues increased, it was in keeping with increases for Wall Street brokerage firms across the board during the first half of 2022 + +• Importantly, note that the financial performance reported is purely regarding revenue, and there are no mentions whatsoever of profitability + +• Hence although it may sound impressive that Citadel Securities' revenues increased by 23%, that may well have been a loss making performance nonetheless + +• Finally, note the last sentence - this information is being shared on the back of Citadel Securities seeking a $400 million loan, hence needing to publicise some information on their financial performances + +• As Citadel Securities is a private entity, they do not usually otherwise publicise a huge amount of information, thus it gives some clues as to how they are performing, which can otherwise be difficult to obtain + +So you may be asking yourself: would a company that is performing exceptionally well need to be borrowing any money at all? Well, the answer is usually "yes", because most companies utilise lines of credit to make short term payments needed for their normal operations. However this loan that Citadel Securities was an **incremental loan**, the definition of which is as follows: + +[https://law.en-academic.com/8600/incremental\_loan](https://law.en-academic.com/8600/incremental_loan) + +*Incremental Loans, also known as an accordion feature.* + +*A feature of some loan agreements that allows the borrower to add a new term loan tranche or increase the revolving credit loan commitments under an existing loan facility up to a specified amount under certain terms and conditions. The advantage of this feature is that the increase in the loan amount is pre-approved by the lenders so that the borrower does not have to get the lenders' consent if it increases the loan facility at a later date.* + +This indicates that Citadel Securities is seeking additional loans, on top of existing loans they already had in place. As anyone who has been in some kind of financial trouble would know, you would only be looking for more loans if the existing ones you had have already been exhausted. So it certainly points towards this entity within the Shitadel group, which ought to be its stronger component compared to the struggling Hedge Fund, also having significant problems with cash flow at the moment... + +&#x200B; + +***2. An expensive new loan*** + +Just a couple of days after this Financial Times article came out, we then heard that Citadel Securities had indeed secured the extra borrowing they had been seeking: + +[https://www.ft.com/content/f3206b39-0cd9-4956-8a87-f5b2f85025ea](https://www.ft.com/content/f3206b39-0cd9-4956-8a87-f5b2f85025ea) + +https://preview.redd.it/nb0362ppy9j91.png?width=1590&format=png&auto=webp&s=41df2067a564eac59e7c40f6afb476ece953795d + +Some choice excerpts from within this article are: + +*Citadel Securities borrowed $600mn on Thursday to bolster its balance sheet and trading business, capitalising on strong demand from lenders after volatile markets helped one of the biggest US equity trading houses make a banner start to 2022.* + +*The company told lenders, which include credit funds, that it planned to use the $600mn in part for additional trading capital. Citadel has sought to expand into new markets outside of the US and build its business with institutional traders in fixed income.* + +*The loan matures in February 2028 and was issued with an interest rate 3 percentage points above Sofr, the new floating interest rate that has been widely adopted to replace Libor. The large appetite to lend to Citadel allowed the Goldman Sachs bankers marketing the deal to tighten the terms — it had initially offered the loan with an interest rate a quarter-point higher — and increase its size by $200mn.* + +So what we can take away from this second news about Shitadel last week includes the following: + +• Citadel Securities managed to get the loan they were hoping for - in fact, 50% more even than they were originally seeking + +• They have used the reason of "business expansion" for asking for these loans + +• The price for this, as secured by their investment banker Goldman Sachs, is an interest rate 3% higher than the standard Sofr rate that financial institutions use for borrowing + +• The current Sofr rate according to the Fed ([https://www.newyorkfed.org/markets/reference-rates/sofr](https://www.newyorkfed.org/markets/reference-rates/sofr)) is 2.29%, meaning Citadel Securities has agreed to borrow this $600 million at a whopping 5.29% rate - 2.31 times the going rate! + +Again, as anyone who has faced financial difficulties would know, it is hard to get extra loans to the ones you already have if you have poor credit. Typically lenders would either be too wary to give extra cash, or they would ask you to pay well above the normal interest rate, to take on the risk of lending you more money. With Citadel Securities LLC being asked to pay **more than double** the normal rate - I think we can surmise that these lenders have pushed them to borrow at a very high rate due to a perception that this is a borrower with high risk. + +The fact that they have given a likely BS reason - further business expansion - for asking for more money is also telling for me. Again, anyone who has struggled for cash flow would know that explaining "I need to borrow money because I don't have money" is likely to get shut down very quickly by a bank. Hence another more palatable reason needs to be given, and I think that is what has happened here. However these unknown lenders weren't born yesterday and probably said something like: "OK, we'll lend you the money for this 'business expansion'...but we'll charge you well over double what we would for someone we think is in a more financially healthy condition." + +&#x200B; + +***3. What happened to the Sequoia & Paradigm money?*** + +Now let's have a look at one more tidbit of information the article also shares, about the bigger borrowing picture for Citadel Securities + +*The company earlier this year was valued at $22bn when Griffin sold a $1.2bn stake in the business to venture capital firms Sequoia and Paradigm, and its new backers were keen for Citadel to expand into cryptocurrency trading. The market-making business has been continuously tapping credit markets for cash as it has grown, and the new borrowing will swell the size of an existing loan to more than $3.5bn.* + +The reference here is to the much publicised news, at the beginning of this year, about the first time Kenny gave away any part of ownership of Shitadel group in exchange for money: + +[https://www.marketsmedia.com/citadel-securities-sells-1-15bn-stake-to-sequoia-and-paradigm/](https://www.marketsmedia.com/citadel-securities-sells-1-15bn-stake-to-sequoia-and-paradigm/) + +https://preview.redd.it/la43bpyf9aj91.png?width=1768&format=png&auto=webp&s=83dbd67ca488dddab609d7e9125ccc98993a7be1 + +This is recapping some old news, but worth reminding a few points: + +• Kenny started up Shitadel 32 years ago, so it was very interesting timing that he would only agree to "partner" with other companies - in the form of cash in exchange for losing some control of his business - only in the last few months + +• We know how much he loves to hodl what is precious to him - the mayo jar and his company - so this would have come as a major surprise to anyone not following this story too closely + +• Again they used some hoodwinking BS of trying to expand into the crypto markets in partnership with Paradigm, as a reason for giving away part ownership in exchange for a large cash injection + +• However, as far as I am aware, there has not been a peep from all these parties about anything new they have launched in the crypto area, in these last 8 months since that deal + +My guess is that Shitadel has burned through that cash injection already, and hence needed more money. Having used the "crypto expansion" card already, they knew they could not use this as a reason to ask lenders for even more money. So instead this time they went with the "international expansion" line, in an effort to diversify the BS they are using for keeping the borrowed cash flow coming in. Hence the current dire situation they find themselves in: **$3.5 billion in debt!** + +&#x200B; + +***4. Financial Statement for 2021*** + +Now I want to take a closer look at Citadel Securities' most recent Financial Statement, which they filed with the SEC on 25th February 2022 for the year ending 31st December 2021: + +[https://www.sec.gov/Archives/edgar/data/1146184/000128417022000004/CDRG\_BS\_Only\_FS\_2021.pdf](https://www.sec.gov/Archives/edgar/data/1146184/000128417022000004/CDRG_BS_Only_FS_2021.pdf) + +https://preview.redd.it/zq7kkdkn9aj91.png?width=1768&format=png&auto=webp&s=eac947a6c6afbfd50a0bca6b8a4ac87e2e5645e4 + +There are three pieces of information within this that intrigued me - one you would probably already be aware of, but two you may not. The point you may already be familiar with, as it got some good coverage in the sub, was how much of their Assets are canceled out by Liabilities in the form of "Securities sold, not yet purchased, at fair value": + +https://preview.redd.it/o3eochmzz9j91.png?width=1768&format=png&auto=webp&s=b0d25df8cb5ec034e5fa1d6076e3ff21b6c84f55 + +The sheer size of these liabilities, which is really only possible to be of this scale due to Citadel Securities' status as a 'Bona Fide' Market Maker in the NYSE, is quite impressive in itself. However the definition specified in the document for both the securities they own and those "sold, not yet purchased" is quite telling in my opinion: + +https://preview.redd.it/yw0s3d280aj91.png?width=1768&format=png&auto=webp&s=315bc0a0bfdb3bf268885afffd18b9bdada2d31a + +This seems like an indication that a large volume of their liabilities, and thus their entite business model, is based on selling equities they do not yet own. It thus becomes easy to understand how they can increase their revenue by 23%, as they have done, but really be digging their grave deeper and deeper. A large number of those securities "sold, not yet purchased" could go on to become FTDs, and eventually they may be forced to purchase these. Is it thus any wonder a couple of my other DDs this month pointed to GME having an incredible number of FTDs, in large part probably due to Citadel Securities' (and other similar Market Makers') business practices? + +[https://www.reddit.com/r/Superstonk/comments/wk5kmf/last\_week\_i\_reported\_how\_gamestop\_had\_more\_ftds/](https://www.reddit.com/r/Superstonk/comments/wk5kmf/last_week_i_reported_how_gamestop_had_more_ftds/) + +https://preview.redd.it/flf4h4br9aj91.png?width=1590&format=png&auto=webp&s=587386acf448daf6b39946e98bff74e7e5260e96 + +[https://www.reddit.com/r/Superstonk/comments/weebvr/in\_the\_last\_10\_years\_gamestop\_had\_more\_ftds\_than/](https://www.reddit.com/r/Superstonk/comments/weebvr/in_the_last_10_years_gamestop_had_more_ftds_than/) + +https://preview.redd.it/whbtvuri1aj91.png?width=1590&format=png&auto=webp&s=5164b07497bb67c87e3d919a8ad87c7101145c88 + +Now for two more interesting points, hidden away in the "Notes" section of the filing: + +https://preview.redd.it/e1ndz0fu1aj91.png?width=1768&format=png&auto=webp&s=709de0aee5100f5615e05e292efd2555782fa556 + +Let me take you through the two sections here, firstly the Revolving Credit Agreement: + +• Citadel Securities has a Revolving Credit Agreement through one of their Prime Brokers, JP Morgan, to borrow up to $500 million + +• SOFR replaced LIBOR as the means for deciding inter-financial institutions' lending rates during the period covered by this Financial Statement + +• According to the document, they had not made use of this possible $500 million line of credit by the end of 2021 + +• However, this revolving credit agreement would allow Citadel Securities to carry out that borrowing at far lower interest than the SOFR+3% loan they secured last Thursday + +The question that comes to my mind is: why were they trying to get a $400 million loan at the beginning of last week, when they were already able to borrow up to $500 million at a *much* lower interest rate through this Revolving Credit Agreement? It really only makes sense if, some time between January 1st and the beginning of last week, they had *already* used up that particular line of credit. However with this still not being enough, they then had to go out and ask for *another* $400 million, and were eventually able to secure $600 in borrowing. + +&#x200B; + +***5. The mysterious Citadel Securities LP*** + +The second interesting point I noticed was this line in the following section: + +*The Company has entered into an unsecured cash advance agreement with Citadel Securities LP (“CSLP”), an affiliate, in which the Company is the borrower and CSLP is the lender.* + +Huh? Citadel Securities borrowing money from...itself? We know they do have a number of affiliates and shell companies, but this appears to be the holdings company which actually does most of the borrowing. I tried to search for the SEC filings made by specifically this Citadel Securities LP entity, but the closest match is this other (or same?) holdings company that made its one and only filing back in 2018: + +[https://sec.report/CIK/0001748042](https://sec.report/CIK/0001748042) + +https://preview.redd.it/qit0tlh82aj91.png?width=1590&format=png&auto=webp&s=4c53c10be849eb6442dd92b0c80f54d62214d8e6 + +One would think it must be a dead entity. However, I have reason to believe that the loan secured last week was likely, in fact, through this mysterious Citadel Securities LP. The reason I am confident this was the case is this interestingly timed press announcement made by Moody's, the main credit rating agency assessing Shitadel: + +[https://finance.yahoo.com/news/citadel-securities-lp-moodys-says-163006285.html?guccounter=1](https://finance.yahoo.com/news/citadel-securities-lp-moodys-says-163006285.html?guccounter=1) + +https://preview.redd.it/8e1yy5z0aaj91.png?width=1590&format=png&auto=webp&s=b45e34260b7e7076d90f39a5a0dce666e0f16ae3 + +Some of the key points within this announcement, which was made just before Citadel Securities LLC secured the $600 million loan, are the following: + +*Citadel Securities LP's (CSLP) proposed senior secured term loan upsize of $400 million does not affect the Baa3 long-term issuer and senior secured bank credit facility's ratings, and also does not affect CSLP's stable outlook.* + +*Moody's also said that Citadel Securities LLC's (CSLLC), Citadel Securities (Europe) Limited's (CSEL) and Citadel Securities GCS (Ireland) Limited's (CSGI) Baa2 long-term issuer ratings were also unaffected.* + +*Moody's said CSLLC's, CSEL's and CSGI's Baa2 issuer ratings are a notch higher than CSLP's Baa3 issuer rating because of the structural superiority afforded to the regulated operating companies' obligations compared with the holding company's obligations.* + +Therefore it seems likely this holdings company, Citadel Securities LP, is the one that secured the loan. Using the intra-group borrowing agreement between this parent entity and Citadel Securities LLC, they then likely loaned forward the $600 million to the operating firm. Interestingly, it appears Moody's has a higher credit rating for the child company, hence potentially Citadel Securities LLC could have been able to secure less costly borrowing if going directly. + +So why did that not happen, and it was this non-SEC reporting parent company that instead likely got the loan? My conjecture is that it is precisely *because* they are not having to file Financial Statements with the SEC, unlike the operating firm Citadel Securities LLC, that they used this entity. After all, it is best for them to keep the dirty laundry as far away from the public eye as possible. What better way than to have a company that has not made any public disclosures for four years carrying out the negotiations with lenders? + +&#x200B; + +***6. Summary*** + +• Citadel Securities reported a 23% increase in revenue last week during the first half of 2022, but this was in keeping with performances by competitors + +• They made no commentary on profitability during this period, and it could well be that this was in fact a loss making performance + +• The only reason they reported on revenue even was because effectively they were forced to, as a condition of trying to borrow an additional $400 million from lenders for dubious reasons + +• Last Thursday they were able to secure a higher loan than hoped for, worth $600 million, but at an interest rate more than double that charged to financial institutions with stronger fundamentals + +• This loan is in addition to another $500 million line of credit that they previously had through JP Morgan, which was unused until the end of last year but has a much lower interest charge rate + +• It is unlikely they would borrow $600 million at a very high interest rate, without first exhausting their borrowing limit on the lower interest $500 million line of credit + +• Therefore I believe it is reasonable to assume that Citadel Securities has now borrowed $1.1 billion so far this year, through these two separate debt mechanisms + +• Citadel Securities possibly had a method to take on such borrowing at a cheaper rate, however I conjecture they did so using their holdings company rather than the subsidiary operating company, in order to conceal their financial problems + +• Multiple sources now point to their confirmed debt being a total of $3.5 billion, with possibly around a third of this therefore being added so far in 2022 alone + +• This is on top of a $1.2 billion cash injection received from two private equity firms at the beginning of 2022, which was money they received in exchange for Kenneth Griffin giving away partial control of his company, for the first time in its 32 year long existence + +• Hence combining the loans and cash injections, the Market Making entity of Shitadel has perhaps now taken on around $2.3 billion from external sources so far this year + +• Along with their credit rating - just above "junk" status - all of this points to a company that is nowhere near as financially strong as the image they are seeking to portray + +• Keeping in mind that Citadel Securities is *still* likely performing better than the hedge fund entity Citadel Advisors LLC, the Shitadel group as a whole could really be trying to survive just "one more day" at the moment +Introduce a foreign buyers ban or restrict financialization of housing market? Whatever it is will crash housing market but a three majority gives them time. +[Trudeau and Jagmeet target REITs](https://www.bnnbloomberg.ca/trudeau-s-power-sharing-deal-targets-housing-costs-bank-profits-1.1741062) +Your markets are run by bots. Now your daily threads are too. + +&#x200B; + +This thread is for plans and thoughts prior to the market open period. + +Maybe use this time to read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) [.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +&#x200B; + +Posts relating to the "Is /r/ASX_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. [You have been warned](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share). + +&#x200B; + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related](https://discord.gg/wsNDGTf5QH). +I get it. Stocks payout via dividends are good and all for passive cash flow. However, isn’t capital appreciation via stock buybacks inherently superior in every single possible way? + ++ You can mimic dividends by just selling your appreciated stocks + ++ you can realize gain whenever, meaning you enjoy more tax flexibility as you can time when you are at lower income bracket. While dividend forces your hand to realize your gains then and there + ++ the company that tend to pay dividends enjoy more stability and usually have no more room to grow when compared to the average company. Therefore lower risk premium in the long term, dragging down returns. + +I would love to hear this subreddit’s opinion as to why you guys love dividends so much. +I can't wrap my head around exchange rates and it is making me sad. I don't know who benefits from low or high exchange rates and I don't even know what is desirable. +https://en.wikipedia.org/wiki/List_of_countries_by_tariff_rate + +Surely of all nations they can afford least to impose tariffs, just look at Gabon at nearly 17%. +Hello, first time posting on this subreddit. I don't know how I'm supposed to survive this situation but I would appreciate any advice that I can get. I don't want to end up homeless before my job starts and I don't know what to do. I was thinking of getting a payday loan. I know they're bad but I have bad credit so I can't do a traditional loan. +For example let's say I own 50 shares of Apple that I bought in 2018. I am now applying for a job with this company and successful get the job. Would you be required to well your shares before commencing the job or would you just have to disclose it ? +Good morning San Diago, + +I am Rensole, + +Do you smell that? + +\*insert flashy intro card\* + +&#x200B; + +https://preview.redd.it/pu1x83urghu61.png?width=680&format=png&auto=webp&s=e50cfdd6c235360be0e3c4612865789248bfb256 + +# A lot of USA banks closed today + +It seems that today some banks are closed due to them apparently being afraid of "civil unrest". + +The part that gives food for thought is that they didn't seem to be closed during the latest version of civil unrest, so was the damage so big last time they felt like they had to protect them this time? + +Or are they planning on giving very bad news and expect civil unrest because of that? + +I can vividly remember them doing something like this in 2008, we were told that we could not take out money from our accounts so they closed a lot of banks and boarded them up for this reason, I'm not saying it's the same reason now, it just makes me think back to it. as civil unrest due to the trial seems to me that's just an excuse. + +[https://www.reddit.com/r/Superstonk/comments/mv7kf1/boa\_actively\_boarding\_up\_at\_10pm\_chase\_not/](https://www.reddit.com/r/Superstonk/comments/mv7kf1/boa_actively_boarding_up_at_10pm_chase_not/) + +This is a post of BOA, another member here also said they they would be shutting their west coast branches today, with last minute wording and no substance as to why. (this person has proven their identity to the mods). + +&#x200B; + +https://preview.redd.it/hqql0bhynhu61.png?width=598&format=png&auto=webp&s=c09f0c5ed7d1ed3983c49331ab1b6065959c7837 + +Union bank seems to be closing its locations as well + +&#x200B; + +https://preview.redd.it/6z8g32w5ohu61.png?width=640&format=png&auto=webp&s=f4b543c2ca8cf3ea0d10c612ce242698840c5891 + +Bank of America + +&#x200B; + +**Addendum;** u/Cuchulain72 just pointed out to me: + +"Banks were closed all year long at different points in time, due to civil unrest. Since you do not live in the US I dont expect you to understand. It is really really irresponsible to link this to gme. When multiple cities were looted last year, majority of businesses were shuttered and or boarded up." + +&#x200B; + +This was not something I knew when writing this so I'm sorry if I messed up. + +&#x200B; + +https://preview.redd.it/p507f8g6jhu61.jpg?width=640&format=pjpg&auto=webp&s=94080b06d3553b9fab780a7fed6622ccc845f1a1 + +# SR-DTC-2021-004, The DTCC and J.P Morgan. + +No tldr, just read ;) + +[https://www.reddit.com/r/Superstonk/comments/mur8bz/srdtc2021004\_the\_dtcc\_and\_jp\_morgan\_theyre/](https://www.reddit.com/r/Superstonk/comments/mur8bz/srdtc2021004_the_dtcc_and_jp_morgan_theyre/) + +And the new DTC-2021-007 + +[https://www.reddit.com/r/Superstonk/comments/muzbp3/new\_dtc\_rule\_came\_out\_dtc2021007/](https://www.reddit.com/r/Superstonk/comments/muzbp3/new_dtc_rule_came_out_dtc2021007/) + +&#x200B; + +https://preview.redd.it/8xn1uhtzjhu61.jpg?width=502&format=pjpg&auto=webp&s=96ddcb03bf58b3518fb08ec2f090832126970156 + +# Blackrock + +thanks goes to u/valthonis_surion for finding this + +We aim to vote at 100% of meetings where our clients have given us authority to vote their shares, and therefore vote at approximately 16,000 shareholder meetings in approximately 85 markets each year. With regards to non-U.S. holdings, generally we estimate that we vote successfully at approximately 90% of meetings. Of the remaining, 8% are not voted due to shareblocking and 2% are not voted due to either the fund’s leverage, impediments such as ballots received post cut-off date or post meeting date, or other restrictions like in-person attendance or power of attorney being required in order to vote. + +Sounds to me that someone (blackrock) is ready to play. + +[https://www.reddit.com/r/Superstonk/comments/musig6/blackrock\_and\_share\_recall\_for\_voting\_we\_aim\_to/](https://www.reddit.com/r/Superstonk/comments/musig6/blackrock_and_share_recall_for_voting_we_aim_to/) + +(Also Vanguard seems to have confirmed that the proxy materials will be sent out the first week of May [https://www.reddit.com/r/Superstonk/comments/mut21d/vanguard\_told\_me\_proxy\_materials\_will\_be\_sent\_out/](https://www.reddit.com/r/Superstonk/comments/mut21d/vanguard_told_me_proxy_materials_will_be_sent_out/)) + +this one also connects nicely (IMO) to this one + +[https://www.reddit.com/r/Superstonk/comments/mu9xed/why\_were\_still\_trading\_sideways\_and\_why\_we\_havent/?utm\_medium=android\_app&utm\_source=share](https://www.reddit.com/r/Superstonk/comments/mu9xed/why_were_still_trading_sideways_and_why_we_havent/?utm_medium=android_app&utm_source=share) + +&#x200B; + +https://preview.redd.it/gdy4oi0nkhu61.png?width=640&format=png&auto=webp&s=1cc361f88476e0db6c32903f7f656163f9f36372 + +this pic eum... wow? + +Seems like the Margin debt has increased immensely since 2020, like a fucking rocket and bounced so high that we may be seeing a lot of margin calls this year. again could be nothing but I've found that all these things usually don't "just happen" and there is a correlation between all. + +[just like Credit Suise halts trading of one of its star traders](https://www.reddit.com/r/Superstonk/comments/muv6a8/here_you_go_getting_around_the_pay_wall/) due to risks. + +Also kindof harkens back to this idea + +[https://www.reddit.com/r/Superstonk/comments/mv740t/january\_22\_february\_19\_march\_5\_april\_16\_the\_only/](https://www.reddit.com/r/Superstonk/comments/mv740t/january_22_february_19_march_5_april_16_the_only/) + +which in turn works with this: [https://www.reddit.com/r/Superstonk/comments/mv2j11/again\_no\_large\_block\_purchases\_of\_deep\_itm\_calls/](https://www.reddit.com/r/Superstonk/comments/mv2j11/again_no_large_block_purchases_of_deep_itm_calls/) + +No large blocks purchased anymore so... I have no idea what this means but what I do know is that it's weird to say the least. + +&#x200B; + +https://preview.redd.it/9lgtjkrbmhu61.jpg?width=667&format=pjpg&auto=webp&s=be2222fe31d216a0c0d2dd2fe02ed4c719c2deff + +# George Sherman + +Seems boy George here can't catch a break, it seems that this dude can't catch a break, he had to forfeit his bonus. + +[https://gamestop.gcs-web.com/sec-filings/sec-filing/4/0001326380-21-000049](https://gamestop.gcs-web.com/sec-filings/sec-filing/4/0001326380-21-000049) + +**Addendum:** + + code D for disposed of & not A for acquired and the disposition price is 0$ + +&#x200B; + +# As for DD + +\- 2000 character minimum on DD/Possible DD Flair + +\- otherwise changes to Discussion flair + +\- 250 character minimum for all text post bodies - no more empty body spam posts. + +Must have content."Your post was removed because it did not have enough text. Please use at least 250 characters. + +[https://www.reddit.com/r/Superstonk/wiki/index/announcements](https://www.reddit.com/r/Superstonk/wiki/index/announcements) that explains it actually + +&#x200B; + +https://preview.redd.it/ezo68vblohu61.png?width=554&format=png&auto=webp&s=95e756644628671a0ab7c5becb53537e0697044b + +# 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; + +&#x200B; + +https://preview.redd.it/0guz7dboohu61.png?width=400&format=png&auto=webp&s=fcf405c63b7e286e464a58a2d59db92c75f052f4 + +Remember none of this is financial advice, I'm so retarded I'm not allowed to go to the zoo 'cause they'll put me in the cage with the rest of my ape brothers. + +If anything happens throughout the day I will be adding it here. + +backups: + +[https://gmebackup.tumblr.com/](https://gmebackup.tumblr.com/) + +[https://twitter.com/rensole](https://twitter.com/rensole) + +[https://twitter.com/HeyItsPixel1](https://twitter.com/HeyItsPixel1) + +[https://twitter.com/warden\_elite](https://twitter.com/warden_elite) + +[https://twitter.com/RedChessQueen99](https://twitter.com/RedChessQueen99) + +And I'll be posting updates as they happen here: +Economists' consensus is that price floors and ceilings lead to surpluses and shortages, respectively. However, this is only true if the price control is placed above or below market equilibrium, respectively. So, why do economists seem to be opposed to price controls (other than the minimum wage and some agricultural price floors) out of principle, rather than being opposed to them *on the condition* that they are incorrectly set in relation to market equilibrium? +Nuclear the Global Fit; What is Spot, Sprott, and Sput; ETF influence; Small Modular Reactors; Cost of Nuclear and the Bear Case Points + +https://preview.redd.it/t6g6fr1hn3z71.png?width=676&format=png&auto=webp&s=7408556682bf3178b15139bd8a9718f91ee5079c + +# 1. Introduction + +Without a doubt, 2021 has been the most pivotal year for the uranium industry in more than a decade. The markets, politicians and corporations appear to have recognised that without nuclear power being a part of the energy conversation, a sustainable, zero carbon emission future will be near impossible to achieve. + +Political will has been coupled with a multitude of bullish factors. Existing Uranium demand is greater than our current supply, and this excludes the additional strain expected on the world’s power grid with the rise of electric vehicles. With these factors in mind, the emergence of the Sprott Physical Uranium Trust (SPUT) has propelled the spot uranium price into near decade long highs, and on the verge of making new mines profitable. + +The best part is that the current cycle is still in its infancy. New production is unlikely to come online during the next 12 months. Further uranium price increases will be necessary for brownfield and almost all greenfield projects to commence. + +But before we dive into the uranium market performance, understanding how Sprott works, SMRs and why it's so controversial, let's look at what it is all for --> emission free nuclear energy. + +# Nuclear Physics 101 + +Brought to by /u/Mutated_Cunt + +Alright time for me to take over and make this more deranged/suitable for /r/asx_bets. This is where you cunts interested in this sort of thing get a primer in nuclear physics. + +Everything practical about Nuclear Energy is based on our understanding of this chart, the average binding energy per nucleon (protons or neutrons) as a function of the number of nucleons in the nucleus. [The Binding Energy Curve of Common Isotopes](https://upload.wikimedia.org/wikipedia/commons/thumb/5/53/Binding_energy_curve_-_common_isotopes.svg/1280px-Binding_energy_curve_-_common_isotopes.svg.png) + +https://preview.redd.it/90sggxc7k3z71.png?width=641&format=png&auto=webp&s=6f438e826e4d9b2127c2cb564b315e169366eb54 + +Because of the equivalence of mass and energy (E = mc2 ), this chart tells you two ways to make energy. You can combine two very light nuclei to make a heavier one (fusion), or you can split a heavy nucleus into smaller fragments (fission). If you are at the Fe-56 nucleus, you cannot generate any energy as you are at the “peak” of the binding energy curve. + +Currently, all nuclear power plants in commercial operation use fission of the isotope U-235 (92 protons, 143 neutrons) to produce energy. This is because U-235 is the most abundant “chain reaction” isotope. You trigger fission of U-235 by firing a low energy neutron at it. When splitting, along with two large fragments, the nucleus fires off an additional 2-5 neutrons (avg 2.5), which trigger more reactions, more neutrons, and so on. + +Only 0.1% of the mass of a U-235 atom is converted into energy, but this is more than enough to power a civilisation. To give you an idea of how absurd this energy density is, from one kg of coal you get 8 kWh of power, but in one kg of U-235, you can get 2,400,000 kWh of power. + + + +[Energy Density Comparison of 1x Uranium Pellet to Other Fossil Fuels](https://preview.redd.it/eyjiyff7j2z71.png?width=565&format=png&auto=webp&s=33e8a6a104311eb8165dd986feee24992a58a253) + +Luckily for us, U-235 is a rare isotope. From natural Uranium mined from the ground, you get about 99.275% U-238 and 0.7202% U-235, with the rest a mixture of other useless isotopes. For our beloved U3O8 miners, this means we got to dig up a substantial amount out of the ground ($$$$$) to get enough of the magic U-235 isotope. + +After digging up the ore, you have to enrich your yellow cake to increase the relative concentration of the U-235 isotope. For weapons grade Uranium, this is about 70% U-235, but for reactors, we only need about 10-20% U-235. This process is where the centrifuge comes in. Because you have a very slight mass difference, if you spin it around in a chamber, the heavier isotopes on average move further to the edge. You extract the Uranium that is closer to the middle of your centrifuge, and on average, that Uranium is richer in the light isotope U-235. Repeat this process a ridiculous amount of times, and you’ll have some very nicely enriched Uranium (as long as Israel doesn’t get involved). + +## Nuclear Fusion + +One thing an observant one might notice about the binding energy chart is that the slope of the energy per nucleon determines how much energy you get. You’d also notice that on the “fusion side” of the chart, this slope is much much steeper than the “fission side”. This implies that fusion has an even more enormous potential for creating power than any fission plant, and also explains why Hydrogen bombs are the most terrible thing humanity has ever created. + +Essentially, for fusion to generate power, you need a large source of power to bring atoms close enough to fuse to give you an even greater source of power, because positively charged nuclei repel. Fission has no such problem, because the “initiator” of the reaction is a neutron (neutral particle).There are two ways to find this power. A. you can build a Sun and use its gravitational effects, or B. you can use giant magnets to force the charged particles to collide. Obviously, the most developed experiments use option B, building Suns on our planet is rather difficult. + +It is a common joke in the Nuclear physics community that “Nuclear fusion has been 50 years away for the last 50 years”. If you ask an actual professor if fusion will be available soon, their most likely response is to laugh in your face. + +Why is this? You need to simultaneously solve Maxwell’s equations of electrodynamics and the Navier-Stokes equations of fluid dynamics to control your Plasma to generate fusion. Sorry for any PTSD I just caused those who took those courses. Considering no known solutions exist for the latter, good luck. The “more wrong” your electromagnetic fields are, the “less control” you have of your plasma, and the more power you need to generate to “correct yourself”. Current frontier experimental nuclear fusion can sustain a “net positive fusion power generation” for merely a few seconds at best, then it turns back into a power dump that accelerates global warming. + +You can safely predict there will be no economically viable method of nuclear fusion generating power plants in this century. + +# Nuclear Power 101 + +All of today’s commercial nuclear plants use nuclear fission for harnessing the immense energy that is released from breaking apart dense fuel materials such as uranium (most common), but also plutonium and thorium (far less common). + +The difference between a nuclear bomb and nuclear power plant is that a bomb has all the energy released very rapidly and a power plant controls the reaction in a stable and constant form. + +Remember how I mentioned that a fission of U-235 occurs when a low energy neutron hits it? Well, the reason that all nuclear power plants aren’t atomic bombs is that fission produces “fast neutrons”. To have a successful chain reaction, you need a material to act as a “moderator” that can slow down your neutrons to produce more fission events. + +As well as moderators, another essential feature of a nuclear power plant are the control rods. These are giant rods made of a material that absorbs neutrons (cadmium, boron, hafnium). As the neutron flux within the reactor increases, you reduce their R\_0 (just like covid) in proportion to how far the control rods are inserted. This allows for a nice, steady power flow that is pretty much automated these days. + +The most common Nuclear reactor in the world are pressurised Water Reactors (PWR). Because water is an excellent moderator of neutrons, and you use heated water to power turbines, you get a two for one solution with this reactor design. + +That’s right, from two millennia of progress in the physical and natural sciences, we have combined the profoundly unintuitive consequences of special relativity with the mastery of atomic physics to boil water. The best carbon free way to make your lightbulbs turn on is to build a giant kettle boiled by splitting atoms. + +https://preview.redd.it/41z47nenp2z71.png?width=1135&format=png&auto=webp&s=90ce3d7639b50cd5a36129016faa6938b6f4208b + +# Nuclear Efficiency vs Other Renewable Energy Sources + +&#x200B; + +[Sprott Info Graphic - Smashing Atoms](https://preview.redd.it/hqz2pyyoq2z71.png?width=1161&format=png&auto=webp&s=b7d78b036ecac744d0f08e4f8f5b46ee6262fd01) + +# The Capacity Factor + +A power source’s capacity tells you what you are capable of producing (i.e 1 GW), but the capacity factor describes how much you live up to your potential ability to produce. + +https://preview.redd.it/o93mvgb7s2z71.png?width=922&format=png&auto=webp&s=ccd32949320bfd274dcc8008524bb0abc49ad24d + +https://preview.redd.it/xlbnkz7mo3z71.png?width=675&format=png&auto=webp&s=320d97bb6439c68c1e6b2f0352226b72b121ddc6 + +**Extra reading** + +* If you want to learn more about the history of how we got from Smashing Atoms to the discovery of fission - this is a really good infographic that Sprott has developed - [History of Developing Nuclear Energy](https://sprott.com/investment-strategies/physical-commodity-funds/uranium/uranium-infographic-smashing-atoms-the-history-of-uranium-and-nuclear-power/) +* For some additional interesting and detailed information on nuclear power and [today's nuclear power contribution around the world](https://world-nuclear.org/information-library/current-and-future-generation/nuclear-power-in-the-world-today.aspx) \- check out the World Nuclear Association (WNA) website and Pages. Particularly \^this one. +* Also /u/Mutated_Cunt is available for questions, tone of response will be in proportion to sensibility of questioning. + +# The Negative View of Nuclear Power + +But if nuclear power is so great, why does it not supply 100% of the global energy and power requirements? Well it could, but we have some problems. First of all, Nuclear has an absolutely terrible PR team. In the public perception, Nuclear Power is defined by its two major failures, Chernobyl and Fukushima, not the 18,500 cumulative “reactor years” of operation in 36 countries around the world. + +As of 2019, Nuclear power reduces our carbon emissions by 470 million metric tons per year, equivalent to removing 100 million passenger vehicles from the road. At its very worst, Nuclear power can make a region unsafe for human life for the next 100-200 years. In comparison, fossil fuels will make the entire world unsafe for humans forever. Fighting climate change without Nuclear power is like challenging Mike Tyson to 12 rounds but with one arm behind your back. At least pretend to give yourself a chance. + +Of course, an ideal world would replace Nuclear power with various forms of renewables and completely forget about toxic waste. But guess what, we don’t fucking live in that world. We’ve got one where environmental activists are campaigning to phase out nuclear without sufficient renewable capacity or capability. No prizes for guessing what fills that gap. There is no desire that nuclear power replaces renewable energy sources, we need to be working together to conquer fossil fuels. Further still, no power source is without its negative consequences. + +A number of green renewable energy sources have several negative environmental consequences. Hydroelectric dams have a devastating effect on local ecosystems, and cause catastrophic damage with floods/breakages. Large volumes of critical minerals are mined for manufacturing solar photovoltaic cells with a significant carbon footprint with limited recyclability. The short life spans often result in filling up a landfill with solar panels and turbine blades. + +But the global situation is about reducing carbon emissions, particularly from fossil fuels (burning of coal, gas and oil) to prevent climate catastrophes and clean up our precious breathing air. + +Nothing is perfect or will provide a one fit solution, but nuclear power is considered necessary and viable in providing a baseload power which in many countries is still being provided by fossil fuels. Some countries have walked away while many others, especially in the Middle-East and developing countries, are giving it their best shot. + +# 2. The Uranium Bull Market + +Over a year ago (Sep 2020) I shared an in depth coverage of the “Global Uranium Bull Market” that was unfolding. The post was then revamped in Feb 2021 (Link to [The Emerging Global Uranium Bull Market](https://www.reddit.com/r/ASX_Bets/comments/lftl86/the_emerging_global_uranium_bull_market_a_summary/)) and between the two posts they covered: + +* The decade long decline of supply since 2011 +* The lack of new mining and production developments due to suppressed U3O8 price for long periods (>10yrs) +* The drawdown on inventory supply by utilities as mines were shut-in +* The growing demand for nuclear - especially from China, Europe, the Middle East and Asia +* The impact of Covid-19 on supply - the postponement of production from the largest global producing mines in Canada and Kazakhstan + +As well as what ASX stocks were involved with Uranium at the time and my best guess for maximum leverage. + +**The Outstanding Supply/Demand Dynamics** + +* Today 442 nuclear reactors supply 11% of the global baseload electricity and heating requirements + * About 200Mlbs per year of uranium fuel total consumption +* \~20Mlbs pa sector deficit + additional 22Mlbs disruption in 2020 due to covid +* Covid extended through 2021 resulting in further reduction in mined supply; total \~50-60Mlbs deficit by end of 2021 anticipated +* Limited new supply has become available (Uranium Spot price not high enough) +* Rapid growing demand for more nuclear power plants and improved technologies: + * 442 nuclear reactors currently operating in 32 countries + * US(95), France (57), China (47), Russia (38), Japan (33) + * Total 200million pounds of uranium per yr + * **52 New Reactors under construction** right now. Majority in China (18) and India (7) with South Korea (4), Russia (3), Turkey (3), UAE (2), the UK (2)... + * **101 Further Planned** (approvals, funding or commitment in place): China (37), Russia (27), India (14), Egypt (4), UK (2) (+16 SMRs), USA (3), + * **325 Proposed New Reactors** (specific programme or site proposals, timing uncertain) + * China (168), India (28), Russia (21), Saudi Arabia (16), Japan (8), South Africa, (8), Turkey, (8), USA (18), Poland (6), Brazil (4) + +The below graph represents the demand and known anticipated supply of uranium. The pink area is the unspecified supply gap. A new source needs to be found to fill up this curve. + +[Growing Demand vs Total Existing and Known Future Supply](https://preview.redd.it/do7p753123z71.png?width=602&format=png&auto=webp&s=760db45a0c0e4b117efb511af54c87776797795f) + + \***Very Important\*** + +* Unspecified supply (pink area) is supply that will need to come from mines that are not yet sufficiently advanced for The World Nuclear Association (WNA) to include in their database. +* This report was last published in 2019. Next report update anticipates an even wider gap of unspecified supply +* WNA reference scenario did not account for: Covid disruptions, Kazataprom extending supply discipline measures, financial buying (Sprott + Kaz physical trusts) and junior uranium companies buying physical uranium off the market. +* The Red arrows represent where actual uranium supply is tracking, extending the supply deficit. + + + +Most of the new energy demand is coming out of Asia where 60% of the world’s population lives. We are also seeing renewed interest across the rest of the world, including the Middle East, Canada, USA, Russia, the UK, and countries in Europe. However, China is massively leading the way in building new nuclear energy, as well as wind and solar. + +# China is Becoming A Nuclear Power House + +China is building reactors of almost all available designs and are also putting a lot of development into the smaller and cost competitive Small Modular Reactors (SMRs) - which they intend to eventually outsource and become a major competitive supplier to other parts of the world. + +During 2016-2020, China built 20 new nuclear power plants with capacity of 23.4GW, **doubling their total capacity to 47GW**. Their next target is **70GW** of nuclear generation **before 2025**. According to Luo Qi of China’s Atomic Energy Research Initiative, “**By 2035**, **nuclear plants in operation** should reach around **180 GW**” which will be more nuclear than the United States and France combined. China is even setting up a [nuclear university in Tianjin](https://www.scmp.com/news/china/society/article/2151693/china-open-university-tianjin-train-workers-nuclear-power) to train nuclear workers for this expansion. + +China is planning at least 150 new reactors in the next 15 years (by 2035)! Consuming an additional 80-90Mlbs + +While the world nuclear fleet amounts to 442 reactors today, that marks an increase of \~30% from China alone. Add to that the future new reactors of India, Saudi Arabia, Turkey and Europe,... We have a Nuclear renaissance. + +**What's Changed? (last 6-12months)** + +Well the thematic driving the market is still the same - supply is low, demand continues to grow and there is a supply deficit pinch unfolding. That part hasn’t changed much, other than a few factors increasing on the demand side and other financial institutions now playing a part on the supply side. + +But what has notably changed the most is the now more common and growing awareness by politicians, corporations and the public of just how useful and important Nuclear Energy is. Especially in combating climate change and reducing emissions while advancing global electrification. + +# Signs of an Important Political Shift in Europe + +A sea change in Europe: Europe is turning around as a whole in accepting nuclear power as a clear player to net zero emissions. (as well as Japan, Saudi Arabia and more) + +[European Companies \\"For\\" Nuclear to be Included in EU Taxonomy](https://preview.redd.it/2umzf4bu43z71.png?width=602&format=png&auto=webp&s=ab1bb41305dbba0c8a939ab0f84e21907268ccc8) + +* This doesn't mean Germany is going to re-board the nuclear train. +* But it does mean the EU taxonomy on nuclear being denoted as a green finance energy source. The additional ESG funding and investment this attracts is HUGE! +* Group of 10 EU companies formed a nuclear alliance, led by France. Netherlands then asked to be included (10+1) +* This could mean we see Belgium turn around and put on the brakes of shutting down their 7 nuclear reactors. Also we may see Spain turn around and flip to being pro nuclear from the current left government anti-nuclear stance. +* The forecasted supply gap in 2019 assumed the closure of multiple European reactors in 2020-30. Lifetime extensions on these plants is a game changer. +* All happening in lead-up to COP 26 and all happening in an energy crisis. + +Now there are consequences for politicians if there is an energy crisis. If in February there are issues providing electricity for heating etc then politicians will be hanged (metaphorically) for not making decisions that will put them on the proactive foot for the coming winters. There's accountability now. + +* What has held nuclear back is public perception and policy makers fear of public perception. +* This energy crisis unfolding in multiple parts of the world could be the attested moment for a lot of this public perception fear to change. Climate change fear is outweighing the fear of nuclear. + +The world is also on the cusp of introducing small modular reactors (SMRs) to create a layered demand source for uranium. The promise is a smaller, safer design with high versatility. Imagine what problems we could solve with a power plant that can be transported on the back of a truck. SMRs can help industry more than help the government. See the SMR section for latest on that front and the developments currently under implementation. + +Overall upside scenario - entering the new nuclear renaissance. Not necessarily a new renaissance but more a modern reframing in a narrative that people can understand and get behind. The underlying technology hasn't changed. + +# Recent Major Headlines Affecting Uranium/Nuclear + +* COP26 - the United Nations Climate Change Conference +* **Japan's** industry minister says nuclear power is crucial to its net-zero goal. +* **Dutch government** vows to throw its weight behind nuclear energy in Europe. +* **Ghana** seeks to add carbon-free nuclear to its energy mix for the first time. +* **Romania's** new energy plan will double its use of nuclear power by adding two new reactors. +* **The UK** commits to decarbonize its electricity system by 2035, 15 years sooner than its previous 2050 target. “The UK government will announce plans to fund a new nuclear power plant before 2024 election as part of its Net Zero strategy” - [New Nuclear Power Plant in UK](https://www.reuters.com/world/uk/uk-fund-new-nuclear-power-station-part-net-zero-drive-telegraph-2021-10-17/) +* Rolls-Royce in talks with Amazon and other US tech giants to power data centers with SMRs +* **China’s** climate goals hinge on a [US$440 Billion Nuclear Buildout](https://www.bnnbloomberg.ca/china-s-climate-goals-hinge-on-a-440-billion-nuclear-buildout-1.1675953) +* [Europe ESG Funds in Assets Hits US$1.4 Trillion in investors cash](https://www.bloomberg.com/news/articles/2021-06-15/european-esg-funds-hit-record-1-4-trillion-in-assets-last-year) being steered toward strategies that address environmental, social and governance considerations. + * If nuclear power gets included in the EU Taxonomy, the nuclear sector will get access to ESG funds to invest in the Nuclear sector +* **Russia** \- [to construct 24 new reactor units](https://world-nuclear-news.org/Articles/Rosatom-targets-24-new-reactor-units-in-Russia-by) \- “Rosatom has announced that implementation of Russian President Vladimir Putin's decision to increase the share of nuclear power in the country's energy mix to 25% by 2045” +* **Saudi Arabia** “intends to become a leader in renewable energy by [building 16 nuclear reactors by 2030](https://www.arabnews.com/node/1955676/business-economy), estimated to cost more than $100 billion with a combined capacity of 22GW.” +* **US** is **‘**[Very bullish’ on new nuclear technology ](https://news.yahoo.com/us-very-bullish-on-new-nuclear-technology-granholm-says-110016617.html) and Congress passes Bipartisan [Infrastructure Bill with Nuclear](https://www.nei.org/news/2021/congress-passes-infrastructure-bill-nuclear) in a key energy role + +**Massive Uranium Financial News Marker - Kazataprom Physical Fund:** + +On the 18th-Oct Kazataprom (largest global producer of Uranium) [announced their investment into a physical uranium fund](https://www.kazatomprom.kz/en/media/view/kazatomprom_obyavlyaet_ob_investirovanii_v_fond_fizicheskogo_urana) \- A second major fund that will complement and compete with the relatively new but already the largest physical uranium fund - Sprott Physical Uranium Trust (SPUT). + +The Fund (ANU Energy), established on the Astana International Financial Centre (AIFC) will hold physical uranium as a long-term investment with its initial purchases financed through the founders’ round investment totaling US$50 million, sourced from Kazatomprom at 48.5%, National Investment Corporation of the National Bank of Kazakhstan (NIC) at 48.5%, and Genchi Global Limited (the Fund Manager) at 3%. + +At the second stage, the Fund is expected to raise capital of up to US$500 million from institutional and/or private investors, with the proceeds to be used for additional uranium purchases. + +&#x200B; + +# 3. The Three Sp's: Spot, Sprott and Sput + +**The Uranium Spot Market** + +Unlike other metals such as copper, nickel, gold or iron ore; uranium is not easily traded on an organised commodity exchange (London Metals Exchange for example). Instead, it is traded in most cases through contracts negotiated directly between a buyer and a seller. More than 95% of uranium trade is via 3-15yr term contracts with producers (miners) selling directly to utilities (power stations), reflecting security of supply. NOTE: utilities need secure supply as they cannot risk having to shut down their power plants for lack of nuclear fuel - it is very very costly to shutdown, yet alone start-up again. + +The Spot Uranium Market is mostly made up of some approved traders (hedge funds and uranium funds), as well as some spot supply from U3O8 enhancement and storage facilities and often traded between producers who may need to meet term contracts. But this is relatively only a small function in terms of satisfying reactor needs. + +Utilities purchase uranium under specified pricing (series of fixed prices) or market-related pricing which is linked to the delivery date and often trading at a premium (sometimes a discount) to the spot market indicator. Spot is what everyone looks at, but what is the underlying focus for companies is the term price. + +Only a small percentage of uranium in circulation is traded on the spot market. The liquidity is pretty low. Liquidity typically has been around 220,000lbs a day, until recently when Sprott started rocketing it up close to 400,000lbs a day. + +This near doubling of liquidity has meant that the Spot market price has risen from US$32/lb in early August to a high of US$50/lb by mid September, and settled around the mid $40s going into October. + +But what is Sprott? + +**Sprott Asset Management** + +Sprott, founded by Eric Sprott in 1981, is an investment firm and asset management corporation. They are a resources giant out of Canada with a focus on acquiring precious metals, managing bullion trusts, equities and mining ETFs . + +They hold 4 bullion trusts (Gold, Silver, Platinum and Palladium) worth a total \~US$13Billion and have an overall \~US$18.6B total in assets under their management with over 250k investors. + +During the last uranium cycle (2005-2011) Sprott developed a financial vehicle for buying physical uranium. But they were “late to the party”, in that fund didn't kick off until about 2010. But this cycle they have come in much earlier not only with buying up uranium equities but also in having a physical uranium investment vehicle established before other major funds. + +On April 28th 2021 - Sprott Asset Management Group [entered into an agreement ](https://www.sprott.com/investor-relations/press-releases/sprott-asset-management-enters-into-agreement-with-uranium-participation-corporation-to-form-the-sprott-physical-uranium-trust/#)with Uranium Participation Corp (UPC) to form Sprott Physical Uranium Trust (SPUT). The partnership allowed Sprott to be an authorised and approved entity for buying, investing in and holding physical pounds of uranium. It is a trust that allows investors (fund managers and retail) to invest in holding uranium without having to be an approved uranium trading entity. + +**Sprott Physical Uranium Trust (SPUT)** + +Sprott filed for an At-The-Market (ATM) equity offering sales program → i.e. an investment vehicle that allows them to issue shares into the open market whenever they are trading at or greater than 1% of their Net Asset Value (NAV), up to a certain amount. They then use the proceeds generated to buy additional physical uranium and charge a 0.35% annual management fee. + +* The initial ATM was for US$300mill and on August 17th the ATM went live - issuing the first shares. They immediately started buying physical uranium for the Trust. +* Within 3 to 4 weeks their aggressive buying on the spot market, spending close to their max $300mill, drove the spot price up over 50% from $32/lb to US$51/lb. +* On the 9th September 2021 Sprott amended their shelf prospectus and increased the ATM from US$300mill to US$1.3Billion +* As of 12th Nov 2021 SPUT has purchased a total 19.4Mill lbs, raising approx US$903.68million or 69.5% of their US$1.3billion ATM and have approx US$57.2mill cash on hand. +* To keep up to date how much SPUT is buying - here is a [Sput Tracker Google Sheet](https://docs.google.com/spreadsheets/d/1cH_2BM6T48FJDP8ShHBL9IRGFbR99ChH_SPSAWRGvt0/edit#gid=504025026) updated daily - courtesy of Alex Weinstein on twitter. + +**But what if SPUT just sells their uranium?** + +SPUT is a closed-ended fund, unlike ETFs which are open-ended, there are no redemption options when SPUT units are sold or bought-back. SPUT’s mandate is to accumulate physical uranium and sequester it, not to return pounds to the market. + +Sprott makes their money from the 0.35% annual management fee. It is in their best interest to build the trust up in value and then hold for long term sequestration. + +John Campigoni, the CEO of Sprott Asset Management, stated “The only circumstance under which SPUT would sell uranium would be if it were necessary to cover the expenses of the Trust.” In short the only selling would be in small amounts if (ever) needed to cover operating expenses. + +They are an investment vehicle that offers direct exposure to the uranium price. + +If the uranium price drops, SPUT buys at lower prices. If SPUT is trading at less than 1% premium to their NAV then they cannot issue more units to raise funds until it increases again, which will swing on market sentiment. But when the fund share units are trading > than their NAV then they issue additional shares to buy additional U3O8 (and UF6) in the spot market to increase their NAV so that the premium over NAV decreases. That additional spot buying pushes the uranium spotprice higher which in turn drives further sentiment in buying more SPUT. And hence a Uranium flywheel effect is created (see below) + +[Price of Uranium Futures and Impact of SPUT](https://preview.redd.it/zpoywmu5b3z71.png?width=602&format=png&auto=webp&s=05534677cff1db8f13051d2fba50d1efd5ac7abf) + +# Exchange Traded Funds (ETFs) + +Unlike Gold where there are dozens of ETFs, Uranium only has 4 pure play ETFs. + +* **The Global X Uranium ETF** (ARCA:URA) - US ETF tracks mostly miners. Largest ETF +* **North Shore Global Uranium Mining ETF** (ARCA:URNM) - lists both producers and explorers +* **Horizons Global Uranium Index ETF** (TSX:HURA) - ETF for Canada created in 2019 +* **VanEck Vectors Uranium + Nuclear Energy ETF** (ARCA:NLR) - launched in 2007, tracks market cap + +ETF, exchange-traded funds, are somewhat like a mutual fund but are traded like a single stock. They are made up of a basket of stocks (and funds like SPUT). The biggest in the uranium sector are URA and URNM. + +* When investors see the spot price of uranium increasing, they turn to the ETFs to seek broad exposure to the sector. +* URNM and URA have seen triple-digit gains in the past year, with URNM up 216%, while URA has gained 146% +* These ETFs have grown about 10xfold in asset value the last year +* The URA ETFs rebalance semi-annually - usually on the last business day of January and July. Last rebalance in Jan 2021 saw a number of ASX equities such as Deep Yellow, Bannerman, Lotus and Peninsular Energy added to the ETF index. +* URNM tracks a market cap of uranium miners, explorers and developers and rebalances quarterly through-out the year. +* URNM holds 8% of their portfolio in SPUT. While URA will be adding SPUT in January 2022 + +https://preview.redd.it/mnqzdv2hd3z71.png?width=580&format=png&auto=webp&s=48caf45eb3c0a6766090ae5ae38402933db9d1e4 + +[URA Top 10 holdings](https://preview.redd.it/ix3zfhukd3z71.png?width=580&format=png&auto=webp&s=5cb950b13fff61071e5c0cfa1e175ca1f74f7094) + +# The Uranium FlyWheel Effect + + Credit to Brandon Munro from Bannerman Energy for providing the graphics and for a more detailed [video explanation](https://www.youtube.com/watch?v=kdebMTuzetk) \*\*watch from 11:40min mark. + +&#x200B; + +[Uranium FlyWheel Effect and Additional Dimensions](https://preview.redd.it/5rudxxwqd3z71.png?width=635&format=png&auto=webp&s=569a7187dc5b377a6d89f6b3d011587e55388135) + + **Flywheel Effect summary** + +A financial Investor (SPUT) raises money at their ATM Facility → they buy physical lbs of uranium with those funds → increases the demand for uranium → results in increasing the price of uranium → drives sentiment → drives further demand of SPUT units (on TSX) which enables SPUT to trade at a Net Asset Value premium → SPUT issues more units → Buys more Uranium and the cycle continues. + +Additional market participants buying uranium other than SPUT adds an extra dimension to the flywheel. + +* We are now seeing more traders and hedge funds come into the market. Producers who need to buy uranium to meet long term contracts, and soon utilities will be entering the market more and more. +* This has created extra demand, increasing the price, and so the wheel spins + +Now the ETFs add a further dimension to the flywheel. + +* URNM holds 8% of their index as SPUT +* URA doesn’t hold any SPUT by a fluke event of the last rebalancing (July) occurring on the same day UPC was bought by Sprott. +* URA when they next rebalance (January 2022) will have to buy up SPUT to make up to \~10% of their index + +The flywheel effect gains even more momentum, drives money not only directly into SPUT but also indirectly from the robot buying that the ETFs will do as more investors pile into these ETFs. And so the flywheel begins to spin faster and spread further. + +&#x200B; + +**\*\*\*\* Due to reddit character limits the "Everything About Nuclear Power and the Uranium Bull Market" is split in 2 parts. \*\*\*\*** + +See link below for Part 2 - covering: + +* the Negatives of Nuclear Power, +* Other Uses of Nuclear Reactors, +* Small Modular Reactors (SMRs), +* Nuclear Spent Fuel (Waste), +* The Cost of Nuclear, and the +* Summary and key take-aways of the combined part 1 and 2 posts. + +Additional Links + +* Link to Part 2 - Everything About Nuclear and the Uranium Bull Market +* Link to the Google Docs Version of THIS post \*will be posted soon\* parts 1 &2 combined +* Link to the [U3O8-Ultimate Uranium ASX Company Performance and Update](https://www.reddit.com/r/ASX_Bets/comments/qpzbfk/the_u3o8ultimate_asx_uranium_company_performance/) Post +* Link the **google docs** [version of the above ASX Company Update](https://docs.google.com/document/d/18rQ7-pHCdA3ZU03glXPvwznOTC6Dhk4c/edit) +* Link to [Strategy Notes to Play the Cycle and the Bear Case](https://www.reddit.com/r/ASX_Bets/comments/qqierc/strategy_notes_to_play_the_cycle_and_the_bear/) + +^(Disclaimer: Thanks to a number of members of this sub that helped contribute to this post, particularly) /u/Mutated_Cunt ^(and) /u/gloriathehippo^(. A pot of this information has been compiled based off experienced people in the industry and great advocates for the sector, including Brandon Munro, Justin Huhn (Uranium Insider) and a vast number on of members on uranium twitter including John Quakes (Quakes99) and many others. This is obviously not financial advice and is only provided to help educate in those interested in learning about the interesting sector.) +My mind went blank and the only thing that I could think about was losing everything I worked so hard for. I guessed on every question and I am not expecting a score that will earn me a scholarship. The question is if there is a better investment for my $50k, other than a graduate education? I need to do some soul searching to figure out if I just give it all away to an institution, or use it to better myself in another way. +Note: I initially put this in the wrong sub. My apologies if you're seeing this again. + +First I’d like to say that I’m incredibly grateful to have found such an inspiring and supportive community with the shared goal to reach FI. You all are badass! + +**My Story** + +I was born and raised in a poverty-stricken neighborhood until I was 18 y/o. I’m talking drive-bys, drug addicts every other block, high school dropouts, family fights (physical), and tons of teenage pregnancies. I still wonder how I managed to slip through the cracks. My mother was and still is a low key alcoholic and never showed much affection or interest in me. My father was a workaholic, but always encouraged me to do better and find a productive way to escape our grim reality. + +It wasn’t until sophomore year of high school when I started taking education seriously (aka my “Shit, I gotta get the f\*ck outta here” wake up call). I eventually made honor roll (repeatedly) and was accepted into an after school program that helped underprivileged students study for SATs and apply to scholarships/colleges. I am forever indebted to the selfless staff members who guided me in the right direction. + +After applying to some colleges and writing several scholarship essays, I finally received a full ride scholarship to my dream university. I absolutely couldn’t believe it. I had a good ugly cry that day (snot in mouth, hyperventilating, the works). That was also the first time I can recall my mother (and other relatives) showing interest in me, but I knew better. At this point, I was ready to peace. + +During my freshmen year of college, I met my boyfriend (9 yrs together) who’s literally my favorite person in the world. He has calmly listened to the traumatizing stories of my youth, comforted me during bouts of sadness, and has helped me let go of the past (but not necessarily forget) and move on with my life. We now live together (HCOL area) with our cat, are both debt free, and have no interest in having children. His NW is about double mine. In our free time we play video games, go hiking, and travel. We also have a shared desire to purchase a house outright later in life (no rush with this. still figuring out which state to settle down) and retire early. + +Since graduating university I’ve been working in a non-tech job, earning a little under six figures, and saving about 60% of my income. I keep to myself and couldn’t care less about materialistic things (clothes, makeup, apt decor), which is interesting given the environment I grew up in (poor people trying to appear wealthy). I’ve cut off many toxic family members and friends who’ve been incredibly negative and self destructive. Distancing myself from them has improved my mental state tenfold. + +I discovered FI at 24 y/o and have been laser focused on rewriting my family history. Every now and then I wake up thinking it’s all a dream and then when I realize this is really my life now I become so emotionally overwhelmed that I need to take deep breaths to manage it all. + +Now that I find myself surrounded by people who have had healthy upbringings, I sometimes find it difficult to relate/connect with them. Especially when they ask about my past. But I’m learning to open up more. I guess I don’t want anyone to feel sorry for me. + +There you have it. After 3 yrs of actively saving/investing, my NW is $121,420 spread across 401k, IRA, brokerage, and cash. + +My ultimate goal is to become a multi-millionaire and have the option to retire early in my 40s with my partner. + +I hope this inspires someone who may not have the support system or resources to overcome adversity. Stay focused. I’m rooting for you. + +**THE END** +Listen guys I'm not your mom nor your financial manager. + +\+ Mods don't delete + +I'll take my negative karma bomb as well.... + +okay listen, it will be quick and brutal but if it saves 1 life, it will be worth it. + +&#x200B; + +The number of people + +\- asking how to create a trading account + +\- how to pass an order + +\- when to invest / if its too late / if its ok to all-in your life savings + +\- says / post screens of leveraged positions using borrowed money / students loan / maxed out credit cards & so on + +STAY AWAY FROM THE MARKET . + +IT IS NOT ACCEPTABLE . + +WSB MEMBERS, PLEASE, YOU MUST NOT ENCOURAGE THIS. + +This place used to be full of educated people "who didn't know what they were doing". Now , it's just full of UNEDUCATED PEOPLE. + +Please, consider that BUYING implies that your money is now INVESTED IN THE MARKET and that IF YOU NEED AN ADVICE ON HOW TO INVEST, YOU WILL PROBABLY SEEK FOR ADVICE ON WHEN TO SELL. + +but guess what ? nobody will help you on that. + +**Some lives are about to be ruined. I'm not saying GME is gonna tank, I'm just kindly asking you to NOT PLAY WITH YOUR LIFE SAVINGS / BORROWED MONEY.** + +**in the past, lots of topics / comments / threads in this sub ended up with suicidal declaration, ruined life, people that lost their cars, their work, their wife and family, their home, and even their LIFES. You need to understand SOME PEOPLE ARE NOT ABLE TO MANAGE A LOSS AND ITS A LIFE THREAT TO THEM.** + +WALLSTREETBETS IS FULL OF STORIES OF PEOPLE THAT LOST EVERYTHING. + +PLEASE, DO NOT ENCOURAGE BORROWING MONEY / GAMBLING LIFE SAVINGS. + +IF YOU ARE THINKING ABOUT BORROWING MONEY / USING LOAN , PLEASE RECONSIDER IT A 100000000 TIME. DO NOT DO IT IF YOU ARE F\*\*\*\* IF IT FLIES AWAY. PROTECT YOUR LIFE & YOUR FAMILY. + +BE CAREFUL DO NOT PLAY WITH YOUR LIFE PLEASE. + +&#x200B; + +Now back to buying GME. + +&#x200B; + +Regards, + +&#x200B; + +one of us. + +&#x200B; + +Edit 1 : + +ugly loss porn for the sceptical : + + [https://www.reddit.com/r/wallstreetbets/comments/hhg42u/people\_who\_have\_lost\_everything\_what\_happened/](https://www.reddit.com/r/wallstreetbets/comments/hhg42u/people_who_have_lost_everything_what_happened/) + +[https://www.reddit.com/r/wallstreetbets/comments/hz5idt/the\_comedy\_how\_i\_lost\_all\_my\_money\_in\_two\_hours/](https://www.reddit.com/r/wallstreetbets/comments/hz5idt/the_comedy_how_i_lost_all_my_money_in_two_hours/) + +[https://www.reddit.com/r/wallstreetbets/comments/g9cdzz/lost\_everything\_because\_of\_stupid\_calls\_i\_am/](https://www.reddit.com/r/wallstreetbets/comments/g9cdzz/lost_everything_because_of_stupid_calls_i_am/) + +people here used to be gambling addict, I'm not saying you are going to be, but please , young /first time investors/traders, analyze your emotions and keep BOTH EYES ON IT. IF YOU DONT UNDERSTAND YOUR FEELINGS, CHECK THIS. PLEASE BE CAREFUL. + +[https://www.mayoclinic.org/diseases-conditions/compulsive-gambling/symptoms-causes/syc-20355178](https://www.mayoclinic.org/diseases-conditions/compulsive-gambling/symptoms-causes/syc-20355178) + +Edit 2 : to the retards making money in the process. Do not forget that you will most likely have to pay TAXES. Do not forget it. Don't re-gamble everything you won out of it. + +Edit 3 : with the ongoing situation (-35% on $GME since open), please do not forget to share your loss porn and go fuck yourself. +I’m still in my first month at my new job but during the interview we had been discussing my need for some paternity leave as we are expecting our third and haven’t had more than a couple of weeks prior. + +We discussed a new policy that was just being finalised- 6 months off paid, full wage, no strings- they just want to make you maintain the work/ life balance and having a kid is kinda a big deal. +Amazing that some of these companies are starting to come to the party- maternity, paternity, adopting as well as leave in the event of the unthinkable- all covered. + +Edit: thanks for all the responses everyone, sorry it seems to have upset some but cmon, it’s about giving the next generation of Australians the best start in life, if you feel hard done that’s on you. +Rich people aren’t the problem, the problem is half of America makes 50k a year but they defend the rich like they are going to be rich themselves one day. News flash, American dream died along time ago. Wake up and stop defending the obscenely wealthy. This whole system is a fraudulent joke. That is why we are all here, because honest hard work only leads to more hard work in this country now because greedy billionaires have sucked the country dry for too long. + 💡OMNI real estate Blockchain Revolution + +&#x200B; + +🏘🏡 We are standing at the crib of the real estate market revolution with OMNI real estate fractional NFT marketplace. This proposition and solution has been born out of a partnership between Passive Income ($PSI) and OMNI ($ORT). + +&#x200B; + +🔗 This revolution is about to take place in a decentralized manner utilizing blockchain technology to achieve it. Complete transparency and insight in where the dividends will go benefiting the investors that participate and contribute. Not just a exclusive "old boys" network of the people in power but a chance for everyone to participate, profit, and contribute to this movement. + +&#x200B; + +&#x200B; + +🧑‍⚖️‍📝 We can make the change ourselfes by adoption and embracing OMNI, this way we can empower ourselfes with no external intervention. No government, no bank, no insurance company will be controlling OMNI. Decentralization in its purest form. Ofcourse we need to comply to national laws and regulation but OMNI got it covered. OMNI has a lawyer specialized in blockchain to mitigate any legal issues. + +&#x200B; + +🏦 Remember the banking and insurance industry that engaged in self service and customer empowerment after the financial crisis? Online banking and insurance services increased dramatically. Alot of costs have been cut making it possible for the banking industry to offer services much cheaper to customers and investors then ever. I have seen this happen and unfold. This revolution has been misused to layoff workers. Top managers and management of these banks and insurance companies got bonusses on cutting costs by laying off workers. So progress and revolution has been used by a select group to enrich themselfes. Power corrupts, especially when it is centralized and in the hands of few. A result of this ofcourse is more unemployment benefits because of unemployment rising, with the banking and insurance industry putting the bill at "us the people" while getting massive bonusses themselfes. + +&#x200B; + +✊ OMNI wants to change this and make everyone benefit from the real estate market revolution. No one controls it, no one influences it except for everyone that is part of it. Join the movement. Lets make it happen! + +&#x200B; + +📄Contract: 0x1d64327c74d6519afef54e58730ad6fc797f05ba + +&#x200B; + +🌐Website: [https://omni-psi.com/](https://omni-psi.com/) + +&#x200B; + +🥞Pancake Swap: [https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x1d64327c74d6519afef54e58730ad6fc797f05ba](https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x1d64327c74d6519afef54e58730ad6fc797f05ba) + +&#x200B; + +🏛BSCscan: [https://bscscan.com/address/0x1d64327c74d6519afef54e58730ad6fc797f05ba](https://bscscan.com/address/0x1d64327c74d6519afef54e58730ad6fc797f05ba) + +&#x200B; + +🗯Telegram: [https://t.me/omnipsi](https://t.me/omnipsi) + +&#x200B; + +🐦Twitter: [https://twitter.com/omniestategroup](https://twitter.com/omniestategroup) + +&#x200B; + +📷Instagram: [https://www.instagram.com/omniestategroup/](https://www.instagram.com/omniestategroup/) +A few simple changes to investing that I picked up over the years that you could think about. + +1. Look at stocks when markets are closed. This way if you sell or buy on impulse you have to wait until the next day and potentially get back to your senses and correct your mistake if needed. Look at your stocks as little as possible. Small changes are meaningless. It’s all about the big picture. Looking at stocks constantly may give us the impression that we have control yet the sun will keep on shining with us or without us and the people we invest in will keep on doing their job whether we watch them do it or not. Heck, farmers don’t watch each and every one of their seeds grow each minute of the day. It’s just a shortcut to insanity. + +2. Ask yourself if the stock’s price is cheap in absolute terms and not in relation to future forecasts and sentiment. + +3. If a stock is down, don’t sell until one or two years have passed. Again this is to protect you again impulsiveness. + +4. If you don’t like tomato sauce with basilica in it, turn on grayscale when checking your portfolios. + +5. Before making an investment, ask yourself if you’re being humble about it. Sometimes we can get into an ego trip thinking that *we* are right about a stock pick because we’ve been analysing it a lot and thus know better than anyone else. Remember that the stock market doesn’t give 2 cents about us and we’re not special. (Fight Club) + +6. Live more. A good investor should live strive to live a fulfilling life. Don’t just read finance and investment-related books. Expand your mind beyond that. Meet people (take your covid precautions), go for a hike, disappear for a week to visit a new place, heck even take up meditation. Whatever it is, expand yourself and your horizons because your wealth will keep on increasing without your assistance but your mind, spirit, happiness and body won’t unless you focus on them as well. + +7. Remember to follow your gut. Don’t invest money you will need in a few weeks, months or years. Make sure you have money left for other activities in life. Your gut will tell you when you’re investing too much money at once. If I’m not mistaken and remember my readings, the brain developed way after our gut so it shouldn’t be underestimated. (Don’t confuse gut with emotions). If you can’t sleep tight with your current investment strategy you should rethink it. + +8. Remember that you are your worst enemy. To the contrary of what economists blabber, we’re not rational most of the time so steps should be taken to counter our irrationality. Studies show that our mind is incredible at, in a way, interpreting reality as it pleases more than we realise. It can overfocus on certain aspect, negative or positive, which bias our good judgment. Remember that there’s a study that actually showed that portfolios of people who either forgot about having invested or who died have performed the best as they simply hadn’t fiddled with their portfolio nor sold anything out because the sell button suddenly felt like a rash that needed to be itched. + +9. Remain unbiased as long as possible. Start by reading the reports first before listening to what people have to say about the company. We have a natural tendency to love our first ideas and take ideas coming from people more seriously which can thus bias us towards liking a stock when we didn’t really look into the facts ourselves. If a friend wants to share an investing idea tell them to either email the idea to you or to meet up another time to discuss the company when you’ll be on the same level as them. This way you’ll be able to have an educated opinion on the company as well and avoid being biased towards liking it based on your friends liking of it. + +10. Don’t try to be smart. It is easier trying to avoid being stupid. + +I’d be interested in hearing your insights as well. + +Thank you for reading. + +Stoitician +Looking from the perspective of a US citizen, the salaries in the EU are often greatly depreciated. I hear about the stronger safety net and everything. However salaries in the tech and finance sector are only about 40% of what you'd be getting in the states. + +How do Europeans still manage? Do they have enough to invest in stocks, real estate, etc.? +The quarterly dividend went from 0.9$ per share to 1$ per share. + +https://www.reuters.com/business/finance/jpmorgan-chase-increases-quarterly-dividend-2021-06-28/ +**Edit: People are confused about my statement on cash deposits creating an asset for the bank. When you deposit cash in the bank, you give them money, which is an asset. They are obligated to repay you that money, and thus a liability is created to offset the asset.** + +**If you lend me $5 dollars, I will have to repay that $5 (liability) when you ask me for it. However, I still have $5 and that is an asset. This is how the balance stays in balance.** \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +Hey everyone, + +It has come to my attention that my connection between Bank of America experiencing an outage and the implementation of a new capital requirement are **NOT** connected. I made the assumption that customer deposits (which creates cash as an asset) were being factored into their risk weighted assets. However, this is NOT used to calculate capital requirements. + +This means there is no connection other than these events occurring on the same day. I learned about this after speaking with u/[Crippled-Mosquito](https://www.reddit.com/user/Crippled-Mosquito/). You can see our conversation [here](https://www.reddit.com/r/Superstonk/comments/q1mcz7/titanic_20_inaccuracies_some_corrections/hfhi246/?context=8&depth=9). + +This was an act of me finding a source to confirm my prior post, without being as diligent as I have been in the past. There is no excuse for this, other than my own excitement. Obviously, I have removed the post because it contains more misinformation (and straight-up falsehoods) than anything else. + +Kudos to u/[Crippled-Mosquito](https://www.reddit.com/user/Crippled-Mosquito/) for providing the wrinkle. I'm not able to see every comment or respond to every argument, so I'm very thankful for a sub that can keep pushing for the truth. + +I'm sorry for dropping the ball, but I'll always own up to my mistakes. + +Cheers +I'm writing this because the Reddit threads on this topic are outdated and more people should know what I now know about the "new" timeshares. This is what it's like to be on the receiving end of a Wyndham timeshare sales pitch. Here goes: + + +I vaguely knew what I was getting in to. My girlfriend and I arrived at an MGM owned casino. We get a bite to eat and as soon as we began our exploration of the Casino someone approached us offering vouchers for free play in the casino worth $75. I'm usually hesitant to ever get sucked into something like this but my girlfriend insisted that we do it. "They give it to you for showing up, we'll just say no, I've got friends who did this too, etc." I went along and decided to keep an open mind about it. + + +We talk to this guy who convinces people to attend this "seminar" for two hours and you'll receive the vouchers, plus a hotel room for a few nights from a selection of locations, plus free breakfast. He insists that all you need to do is say "no, not interested" once the 2 hours are up and you can just leave with your vouchers. Obviously his incentive isn't to sell anything but fill the buses with as many people as possible. + + +The next day we get on the bus to the seminar location. My initial thought was that we'd all crowd into a room and watch some presentation before given the opportunity to bounce. I was caught off guard when every couple was assigned a salesperson. We meet our salesman and he immediately compliments us, is incredibly impressed by any of the words we string together, and has now become our fake best friend. + + +We go into the presentation and the speaker does his thing. And everyone here should be aware that much of what he said was true, but his conclusions were abhorrent. He pointed out that in America we do not use all of our vacation days. We tend to waste them. We are also constantly putting off that one trip to our dream destination to "someday", but "someday" never comes. Next, he points out that most people, dying people, regret working so much and wish they spent more time with their families. These are true facts.  + + +But then he concluded by suggesting we should all buy into this program which will allow us to take these dream vacations. It was the kind of sound financial advice you'd expect from someone who would directly benefit from the purchase and would never hear from you again. + + +I want to note, the speaker was talented and entertaining. He was loaded with jokes, self-deprecating humor. It was funny, but holy shit. Looking around the room were the salespeople with the obnoxious fake laughter. They saw this probably a hundred times. It was creepy. It was surreal. 1/3 of the audience was in on the sales pitch.  + + +The salespeople used every joke as an opportunity to measure the responses on the faces on their paired couple. The speaker would crack a joke and all the sales people would simultaneously throw their back out laughing before turning to the couple they were with to see if they were laughing too.  + + +There were no opportunities for me to speak with my girlfriend without the salesman eavesdropping. The presentation moved fast enough that looking anything up seemed like too much of a distraction. As skilled as they seemed at controlling my behavior, the whole thing was throwing up red flags. + + +Anyway, the presentation ended and our salesman led us to a table. On the way over there were other couples sitting out in the open with their assigned salesperson. They seemed excited about what they were hearing and excitedly signing papers. It was...weird. + + +We sit down and the salesman goes through the program in more detail. Here's where I get genuinely turned off. I work in IT, I'm about to finish my bachelor's degree, I don't think I'm a sucker but my love of science puts me at odds with a person who's giving me overwhelmingly biased information. He reiterates all of the great things about this program. He turns to my girlfriend, "what do you think about that?" "It sounds great!" Then he turns to me. "And what do you think about that? Is it something you'd want to do?" And I reply "Depending on the cost, yes, I'd do it!" + + +Next, he has us estimate the cost of a hotel we normally pay for. Then he asks us how many vacation days we take per year. This is fine and easy math. If the average cost is $115 per night, and you take 10 days, it's $1,150 per year in hotel costs. The "program" (timeshare but they completely avoid the term) lasts 20 years. It's still vague at this part but the salesman insists on focusing on how much we are gonna pay for these hotel rooms over the next 20 years. + + +Cost per year multiplied by 20 years is 23,000. But that's ***not*** the equation they're doing. They're not accounting for interest! Ah! It would be more over that time! How much does it really cost? About $250,000. They estimate that the hospitality industry has an inflation rate of 11%!! Everyone should have it ingrained in their heads that inflation across the entire economy (in America) has been around 3% per year.  + + +He was willing to tinker with the numbers but, generally speaking, we're spending a fuck ton of money on just hotels according to their calculations. And any close observers would note that the number **should have been much lower**. $1,300×20 years×1.1^20 = $174,914.99. I could have been wrong in my calculation but their cost estimate was obscenely high. + + +Disclaimer: As several people pointed out, some of that math is off and I used the incorrect equation (this does not change the conclusions). Here is a better description from a more qualified redditor /u/mowscut: + +>As an actuary, both yours and their calculators bothered me. No idea where 250k comes from, but your calculation assumes you’re paying the fully inflated price (in 20 years) for every payment. The full value is a simple future value of annuity certain formula which is P[(1+i)n -1]/i where i is the interest, n the number of payments and P the payment amount. This gives 1,300(1.120 -1)/.11~83,000. Which is also a crazy number, but formulaically appropriate. + + +Then he asks if we have any more questions. Uh, yeah, how much are we talking about here? They never mentioned up to this point how much it costs! But I'm skeptical and the questions I'm asking are things like how do you actually book a vacation? What happens if I change my mind about it? Is it transferrable? The salesman doesn't know the answers to these questions so a higher level salesman comes over. He's very happy to meet us. He loves the outfit I'm wearing. He compliments various other features and, with the limited amount of information I've provided, seems completely ready to compete with the other salesman for the title of my new best friend. + + +He answers some of my questions but can't provide any documentation to back up his claims. They still won't provide a price but they hand an iPad to my girlfriend to start filling out personal information. I look over and as soon as I see there's a field for the social security number I damn near slap it out of her hands. They were literally going to do a credit check to see how much the cost would be for us! Huge red flag for me. First, the inquiry shows up on your credit report. While that may not be so bad, I want to be informed on making a purchase and at least know a price range before taking that kind of step. + + +This throws the salesman off. Apparently, no one stops at this part of the process. The head sales guy says it's fine, and offers for us to check out a room which would be the type of room we'd be staying in if we join this program. *I still don't know how much this program costs*. We go and the salesman leaves my girlfriend and I alone to explore at our own pace.  + + +This is where I frantically looked for the Reddit thread where personal finance gurus say "GET THE FUCK OUT OF THERE, THEY KIDNAP REDDITORS LIKE YOU AND YOUR CLONE BECOMES A SALESMAN". I found a few threads, and they did warn against this, but they were at least a year old and it didn't all seem timely. + + +I couldn't find costs online either, so I thought to myself "how much per month would I be willing to pay for something like this?" I concluded $45 per month. But I still had misgivings about making a big commitment on such short notice when I couldn't even read anything like a contract. I'd rather go home and read independent reviews so I can be confident in my decision. I couldn't get to that point. + + +Once again we end up back at the table but this time the salesman has a laminated piece of paper with prices on it! I immediately I see huge numbers and realize why they waited so long to show it. They wanted approximately $130,000 for the total program. It would be $13,000 down to get started, and almost $500 per month.  + +(Note: when I did the math later, the actual cost we'd likely pay is around what they wanted for the program. But we'd be paying a fortune upfront and have a monthly payment. We could only go to where Wyndham had properties, which was in America or Australia or some islands, but if we wanted to go to Europe it would be through RCI, which cost about $300 per week. That's about the cost of an AirBnB in some locations, so if you're a smart traveller it may not be worth it at all.) + + +"Would you rather pay this?" The head salesman circles the $174,000. "Or this", he circles the $130,000. Ooga not want pay big number when ooga pay small number instead. I didn't want it. $45 dollars was as high as I'd go. + + +This is the part where they tried to pit my girlfriend against me in an amateurish attempt at manipulation. First, they go through the list of everything we ever told them about what we liked about the program (before we ever heard a price). They even sneak in a "you should be willing to sacrifice something for it" and gave a few examples like eating out less or having fewer cups of coffee from Starbucks. So I'm telling the salesman that this is way too expensive and once again the head sales guy shows up. He says things like "I thought you said you liked the program? You said it was a 10/10. Are you saying it's not a 10/10? You said you'd be willing to sacrifice for this!" He was getting irritated. Then he turned to my girlfriend and says "it doesn't sound like he's as rich as he says he is". At this point I was infuriated. Best friends don't say things like this to each other. But I held my cool. I looked him dead in the eye and firmly said "I'm gonna pass".  + + +But damn, the manipulation didn't stop and they didn't give up. They leave us alone to fill out a brief survey with a guy who definitely doesn't sell anything. So this guy shows up, introduces himself, and asks us about why we didn't buy it. I was truthful, it was too expensive and I wasn't willing to spend all that for it. I also felt pressured to make a big commitment on something that hours earlier I knew nothing about. So then he offers to sell us a "trial" program. It's a fraction of the price and it only lasts two years. It starts to be appealing, but then it is also limited to certain locations. I ask to see the contract and the guy says "what do you want me to do, sit here and read you a contract"? At that point he gets frustrated and offers to walk us to the exit. It had been 4 hours. We get our vouchers and leave. + +Tl;dr: it would have been a bad financial decision. + +Edit: There are a TON of stories in this thread from people who have had experiences with timeshares. They are all worth reading! +Context: +My cousin (mid late male) wanted to startup a small gig. That's cool, but his credit score was basically non-existent. The only way he would get a truck loan was to have someone cosign. + +That's where my dad comes in. My senior dad is not nearly as sharp as he used to be, but his credit score was sharp enough for your average opportunistic banker. + +My cousin, my uncle (cousin's father), and my father wanted my cousin to succeed with his idea, but needed a truck. The only problem was that if they were to tell my mom, me or even my little brother about this deal; I promise you, it wouldn't be on the table anymore. Taking advantage of this fact, they got my dad to hide the fact that he cosigned a $81,000 loan from his immediate family for 10 months! Keep in mind, my dad probably has early onset of dementia or something of the like. + +Now me, my brother, and my mother are stuck with an 81k loan that has no promise of being paid off. There's a reason a 40ish yr old man has a bad credit score. To be fair, they have 67k left on it, but the fact remains in the midst of economic uncertainty due to covid, we have an ENORMOUS sum of money that could all of a sudden come crashing down upon us just because trash blood hooked a demented old man into their scheme. + +Some fixes in mind that we procured are: + +Refinance the loan without my dad's signature + +Repo the truck and pay the difference + +Wait until the cookie crumbles and don't pay the bank + +The business idea somehow works out (doubt) + +I have no faith in these peoples ability to pay off this loan. + + + +Here's my question: +What is the best route possible to try and averse the risk? + +Edit: thanks for the support. I see that refinancing the loan is the best and easiest solution. I also see that I should support my cousin, so we can get my dad's name off this loan as soon as possible. + +Pulling the car from underneath them to sell and make the difference up is not that great a solution. + +Also, looking into declaring him incompetent is only something to look at if **** hits the fan, but this isn't something I will actively push. +If you check my post history, about February, dad called retail investors in GME “dumb fucks”. I told him about the share offering and the quarterly numbers being up. He asked when I was gonna sell and I informed him I bought 5 more at open that morning to get laughed at even harder than previously. Fuck everyone that doubts. I’m with you guys until the end, LFG + +Edit- this blew up waaaay bigger than expected. Thank you for all the encouragement and awards. This WAS NOT “should I sell post.” FUCK NO YOU DONT SELL NOW! HODL!!! 💎🤲🚀🚀📈 + +I just wanted to point out that FUD comes from all directions, family, coworkers, friends… + +My dad is awesome and has always been there for me and helped me when needed. I love the guy, he’s great. Just wanted to share something we could communicate on and both be hyped about. Everytime I bring it up, it’s laughs and jokes. We’ve never really connected on anything collectively. + +Sometimes ppl don’t realize until it’s too late and things are said or jokes are made, he’s getting that car that I always told him would be a HotWheels car. + +Love you all and LFG!!! Just no dancing 💃 +My apologies if the layout is weird, I’m on mobile. + +This is probably obvious for every trader, but I found that this helped me in the beginning of trading for me. I found it hard early on aiming for a certain amounts of profit. One thing that I find that’s been helping me start out as a new trader for a few months now and seeing more green days, is thinking in cents. Not thinking/aiming for an overall profit/loss number of the day because all that’s scalable by the amount of share you buy (obviously right). Thinking in cents helps with not forcing trades if you use small share sizes. + +If you make X amount of money with 1 share consistently, +you can make X amount of money with 500 shares consistently. +It’s not that black and white but it’s a good start. + +But bringing down the numbers in my head helped the psychological side of trading for me a bit. If you can consistently make $0.15/$0.30 on the day green that’s $75-$150 a day with 500 share trades. That’s fair price range thats. scalable. + +Just a quick thought for any new new traders that helped me. +John Mcafee has been doing his coin of the week for the last few weeks now. + +He's been using his large Twitter reach and "security expert" name to create a pump and dump in which he tweets out a coin of the week. + +The issue has become is he is now **not only pre-buying the coins himself to dump on his followers, but he now sells the calls to people before hand, for a price of which you can negotiate in the DMs.** + +Bots have been a common issue when he had some credibility, so he used to make ways to block the bots from catching on, well now he tries to make it easy for the bots as people don't buy his junk pumps anymore that he presells to people as "leaks", so he wants the bots to buy up his bags at a premium, and then himself and the people he sold the coinpick to then dump on all these people. + +You can see proof of this: https://np.reddit.com/r/SysCoin/comments/7s3yly/john_mcafee_will_be_tweeting_sys_as_his_coin_of/ + +The reddit user /u/Goku900000 has been able leaked both of the previous 2 calls that Mcafee has made. + +This man has one of the biggest names in crypto and is pulling the Bitconnect route of making the entire cryptocommunity look bad as he uses his large audience to create pump and dumps, **this probably affects the NEW PEOPLE to crypto the most as they see his large Twitter following and see him as an authority in crypto.** +# 0. Preface + +I am not a financial advisor. I do not provide financial advice. Many thoughts here are my opinion, and others can be speculative. + +So, NSCC-002 just got approved, along with NSCC-801 for one-hour margin calls. Not only did it get approved, it got **accelerated** approval and will be in effect **Wednesday, June 23rd**. + +This got me **JACKED**. But of course don't get too hyped just because of me. It could all be a nothing burger in the end. But, there's some crazy shit going down that I think is telling of what is about to come. + +There's also comments of "these rules mean nothing until they are enforced". Yes, I agree. But, consider the fact that the NSCC, ICC, OCC, DTC **have all been drafting up rules to protect themselves** **in the event of member defaults and extreme market stress**. They aren't just drafting these up to say, "Meh. Nevermind". The NSCC, ICC, OCC, DTC are full of members who are **NOT** short on GameStop or other positions that put these entities at risk. The other members have influence and do not want to be dragged down either. It's a battle of survival. + +I also apologize if anyone has already posted about this. I do know that /u/dentisttft had identified these SLD periods in their post about T+35 when tying in the spikes of price! Such a smart ape! I'm going to expand on their post here, identifying the importance of NSCC-002 to the theory. + +A comment by [/u/minnowstogetherstonk](https://www.reddit.com/u/minnowstogetherstonk/) also encouraged this discussion, first identifying [that T+35/T+21 could turn into T+0 that feeds on itself.](https://www.reddit.com/r/Superstonk/comments/o4y2so/nscc2021002_approved_with_partial_amendments/h2k0os3?utm_source=share&utm_medium=web2x&context=3) If this is what is about to happen... genius ape! + +I personally think that NSCC-002 will trigger a death-spiral for SHFs as we approach Q2 end, and shit is about to hit the fan across all markets. + +[Awww shit](https://preview.redd.it/q1te0jsbzr671.png?width=1686&format=png&auto=webp&s=4407f66bc6efcdd10e5d6323bea7bc2611371385) + +# 1. NSCC-002 And It's Effects On Liquidity Deposits + +Note: Like I said above, this is expanding off of /u/dentisttft's post of T+35 found here: [T+35 Is The One True Cycle](https://www.reddit.com/r/Superstonk/comments/o155a6/t35_is_the_one_true_cycle_evidence_to_back_my/). It visually showed the NSCC liquidity cycle times and the effects it had on FTDs, which never really clicked until thinking about NSCC-002 a bit more. Give their post a read! :) + +Something big to remember is that **NSCC-801** now goes into effect **along with NSCC-002**, which allows for **one-hour margin calls**. This means that when a member does not have sufficient liquidity, they will be asked to post it within **one hour** to the NSCC. If they do not post the liquidity, then the member defaults. And thus, the snappening begins. + +Let's investigate the most important bits of NSCC-002. First, a glance at what the rules **used to be** and the NSCC's concern driving the rule change\*\*:\*\* + +[NSCC-002 Part 1; Old Liquidity Requirements](https://preview.redd.it/yjhyg0vrzr671.png?width=793&format=png&auto=webp&s=1c593670c431dca25f897bf1ffa26197b3b60fc9) + +[NSCC-002 Part 2; Old Liquidity Requirements](https://preview.redd.it/k7sfq4iszr671.png?width=784&format=png&auto=webp&s=61deac31a63ecb823c3ea5939792043b2b890a87) + +Prior to this rule change, the NSCC would collect liquidity deposits **only during Monthly Options expiry periods**. What is a monthly option? It is the **third Friday of each month:** + +* January 15 +* February 19 +* March 19 +* April 16 +* May 21 +* June 18 +* July 16 +* Etc. + +The NSCC realized that shit could get really wonky between those liquidity periods of the monthly options. These volatile movements in the markets would put the NSCC itself at risk due to some of its members positions. So, they decided to draft up this rule which allowed them to not only grab liquidity around monthly options, **but to be able to ask for more liquidity on a daily basis**. This allows the NSCC to take hold of volatility and say, "enough is enough, you're done for". + +Now, check this out: + +[NSCC-002 Part 2; New Liquidity Requirements](https://preview.redd.it/754z0dte1s671.png?width=799&format=png&auto=webp&s=736bb773f6515211f916788f10fe1ba914c1569c) + +[NSCC-002 Part 2; New Liquidity Requirements](https://preview.redd.it/wp8f279f1s671.png?width=741&format=png&auto=webp&s=cae04b68606972c68160dc782ad61d53a9bbac03) + +The NSCC defined a period of grabbing liquidity and holding it to be 2 business days prior to monthly expiration, and ending 7 days after monthly expiration. From the dates listed above, this gives you the following time periods of liquidity deposits for monthly expirations: + +|Monthly Option Date|Liquidity Deposit Given By Member To NSCC|Liquidity Deposit Returned To Member From NSCC| +|:-|:-|:-| +|January 15|January 13|January 27| +|February 19|February 17|March 2| +|March 19|March 17|March 30| +|April 16|April 14|April 27| +|May 21|May 19|June 2| +|June 18|June 16|June 29| + +And if you remember from /u/dentisttft's posts, these periods **all contain the T+21/T+35 dates of January 25, February 24, March 25, April 26, May 25, and June 24**. So it appears that, as /u/dentisttft concluded, that they struggle with liquidity during these time periods of FTD deliveries and the price gets much greater upward momentum. + +Going back to the images above of NSCC-002... notice that in the old rule that the amount of liquidity that needed to be posted for monthly expirations was **based on settlement activity of the prior 24 months**. That's a lot of leeway on how much liquidity is needed per member as it was not checking real-time data. + +**NOW**... the NSCC is changing it to a **daily calculation**. **It's no longer a one-and-done deal of the monthly liquidity based on the prior 24 months**. It is going to be based on a **constant check of real-time data**. This can shift the total liquidity required from the previous rule up significantly, mainly because it is no longer based on the **prior 24 months** of settlement activity. + +# 2. T+21/T+35 Loop Turns Into A T+0 Death Spiral + +Remember how shit went absolutely wild around March 10th? That was outside of a liquidity deposit phase. And then, **the price was tanked and brought down severely JUST BEFORE the next liquidity deposit was required.** + +[GME Price Action Prior To Next Liquidity Requirement](https://preview.redd.it/yv2xmolw2s671.png?width=251&format=png&auto=webp&s=972401702a7cdee5648397fb0a827f137d3c1902) + +In fact, something curious is that **the price has never been above $228 entering the next liquidity posting date, and has never been above $300 during these liquidity dates**. Hmmm? Margin call price could be **dangerously** close. And with NSCC-002/801, it can absolutely screw the SHFs. + +What does this all mean in the end? **Well, it can turn the T+21/T+35 loop into a T+0 death spiral.** + +They used to have to post liquidity two days prior to the monthly options. But now, the NSCC has the discretion to ask for **MORE** liquidity at **ANY** time based on daily movements of prices. The previous liquidity posting was a **one-and-done deal** instead of a liquidity requirement that would constantly update **every day of the year**. And if they fail these new liquidity checks? **One**. **Hour**. **Margin calls**. + +Here's a figure based on /u/dentisttft's liquidity deposit phases identifying what could happen starting Wednesday, June 23rd: + +[GME Price Action And Liquidity Deposit Phases](https://preview.redd.it/ebuouwrl4s671.png?width=1536&format=png&auto=webp&s=adb54e7938d647d2f1d43f1b9ccbaeeac3701cad) + +This could very well be why they are trying to obliterate the price at the moment. + +The next FTD spike can cause the price to absolutely soar into a price range which requires more liquidity, making it harder for them to suppress the price, and pushing GME more towards the margin call price. Which then feeds on itself requiring more liquidity, and it continues on an absolute death spiral. + +Which can then lead to this: + +[Happy GME TA](https://preview.redd.it/emkfeo659s671.png?width=1536&format=png&auto=webp&s=a1459a1ed24e63e7193930567c2dbcd1c4917884) + +# 2. Urgency to Approve NSCC-002; Quarter End Of June 30th; Meeting Between Biden, Powell, Yellen, Gensler + +Guess what? The 2008 crash "started" around the end of Q3 with the collapse of Lehman Bros on **September 15**, 2008. **End of quarters are when the system gets really strained due to the underlying plumbing of the markets and the necessity to pump balance sheets**. + +>Banks’ “reporting” dates are known inflection points in the short-term funding markets and typically fall at the end of the month, quarter, and of course the year. But periodically, **the 15th of the month is also a pressure point.** \- [Source](https://blog.pimco.com/en/2019/09/repo-rate-spike-a-tail-of-low-liquidity) + +Fast forward to when the Fed attempted to reverse QE. A year after performing QT (reverse of QE), the repo market blew up to 10% interest on **September 15**, 2019 due to way way way too many loans that had to be handled. **You can see how strain on the markets starts to amplify around particular dates of Quarter-ends and occasionally the 15th of months.** + +We're approaching the end of Q2 which is June 30th. Hm. **Quarter end**?! Sound familiar? 👀 + +The NSCC-002/801 is having **accelerated** effectiveness. There is huuuge urgency to get this passed for margin requirements and margin calling members. **Why would they be pushing this to get it out the door?** I think shits about to hit the fan. They NEED to protect themselves. + +Something else to note is that Biden, Yellen, Gensler, and Powell all met for "Climate Change" discussions today. + +>“The regulators reported that the financial system is in strong condition,” the White House said in a readout of the meeting. - [Source](https://www.washingtonpost.com/politics/2021/06/21/joe-biden-live-updates/) + +That's the entire context of the quote. That the financial system is "in strong condition". What are they **actually** doing at this meeting? Something similar to discussing letting X Y and Z fail just like they discussed letting Lehman Bros fail in 2008? + +The [Jungle Beat Monday Post](https://www.reddit.com/r/Superstonk/comments/o54hl2/the_jungle_beat_monday_06212021/) talked about this very briefly and it was something I latched onto immediately. I remembered [the meeting for 2008](https://www.cnbc.com/2018/09/12/bernanke-paulson-and-geithner-say-they-bailed-out-wall-street-to-help-main-street.html) but did not connect the dots to this meeting between Biden, Powell, Yellen, and Gensler possibly being similar in scope. + +Wild times we live in. But remember - don't fuckin' dance. +I have a good (albeit fairly superficial) relationship with my landlord of 6+ years. I really like the apartment I rent, but I'm considering investing in real estate in the future (next several years). My landlord has a good reputation in my area and has been great to deal with. I'm interested in talking to her about her experiences in RE investing, but I don't want her to think I'm a flight risk. I'm just trying to learn to see if this is a path I want to go down. Current landlords - how would you feel if your tenant asked to talk to you about RE? Would you be open to it, or would it raise a red flag? +So I just sold my apple shares, with a good profit. I really like the company, they are doing a lot of things right, I also believe that growth will continue, but at a lower rate. So as a value investor I‘m always in a conflict when selling a good company. But the price was just too high for me. There have been a couple of times when I sold too soon (e.g. tesla, apple previously) but if I can’t really justify the price I‘m getting nervous about my holdings. My questions now are if some of you still buy apple at this price and how you deal in those kind of situations. Thanks in advance. +The airline industry has survived the pandemic. Has the business travel industry been permanently changed? Is the quantity of flights taken for either business or pleasure going to be permanently diminished because of new trends of online services? +Thoughts? +So I started off using Wealthsimple and the app is absolutely amazing. Looks like something that was designed by Apple, it just works so nicely and everything is laid out beautifully. + +Then I decided to try out Questrade, since you can actually hold US funds there. + +My god, their app is atrocious. If you leave the page for even a second (to you know, check the real time price of a stock), it gets stuck in an endless loop of loading, and forces you to sign out and sign in again. + +Everything takes ages to load, and the layout is just plain ugly and un-intuitive. + +I prefer Wealthsimple's app so much more, that I am seriously considering using them even for US funds, even though the fees are going to be higher than Questrade. + +I'm actually shocked at how bad Questrade's layout is, even their web layout (which is better than their app at least) is quite slow and has a clunky/un-intuitive appearance. + +Am I alone here? I know that a "pretty" interface shouldn't mean much when we're talking about money here but to me it really makes the difference. Especially when it comes to responsiveness, which actually could affect your trades. +So in many comments on this sub I see people recommending investing in things like Visa and Microsoft. These stocks currently have a 0.57 and 0.97 yield respectively. Yes, they are both really good growth stocks. But my confusion is I thought people were here for dividend investing? Even with good consistent dividend raises, if the rate is starting at sub-1% how does that result in much of a significant dividend strategy, whether you’re looking for short term income generation or long term compounding? + +Again, I understand that these stocks have great growth prospects for share value, but if that’s why they’re being recommended then that seems to just be a general stock investing strategy that happens to have a small dividend rather than a dividend-oriented strategy, and would better be on a subreddit devoted to general stock investing. + +Am I just missing something here or does anyone else think that? Thank you for any information you guys can provide :) +I could be completely ignorant but I can't think of any schools of thought which originate in Asia for example. Is there not much Economic debate outside Western countries or are we not aware because of some cultural barriers? Or is this a stupid question? +I read a thread about much everyone was down from today and there was comment talking about how a 3% drop in an ETF position was "not looking good for the future" + +Can you imagine seeing your portfolio down 3% and even noticing? + +Not understanding that being adverse to risk at 22 years old is literally retarded? + +If you don't have at least 1 position in a trading halt with a 50/50 on either mooning or restricting your diet to migoreng for two months then you can miss me with that shit. +I will soon be 18 years old. + +Because of that I was wondering if any of you can tell me something you regret doing in your financial life. + +Also if you could tell me something you wish you would have known when you were 18, I would greatly appreciate! + +Thank you guys! +Former penny stock trader, current long term investor with retirement money, now turned active day trader when I got laid off first of the year. + +The first month I started trading mid-large cap companies, 1-2 companies a day, scalping 100 shares at a time, 10-15 times a day. I was profiting about $150 a day, and holding overnight. + +February rolled around, and I figure, I’m doing good...time for margin. Started the same thing, bigger share purchases, and maxing out margin. First couple weeks went well, never trading “risky” stocks. (Although I did get into the GME, AMC train) + +Success blinded me a little, and I changed strategies again, going from 2-4 companies a day, to 8-10. Unfortunately, I got caught in some, bought more to average down, and watched my overnight holds get bigger and bigger. 2 weekends ago I was maxed out on cash/and margin over the weekend. Not only paying interest, but holding 28k in positions that wasn’t my money. (I do have available cash to cover if I got called). + +I was up about 5k on the year going into last week. I made the decision last week to get out of my holds, clean up my account, no matter what the cost. Over the course of this past week, I lost about 2k off that. + +As this weekend starts, I currently hold zero positions (I do have some options), have all my cash and margin available, and I feel free, with a profit of 3k since 1/1/21. + +I may not be getting rich, but I have learned a shit ton in the last two months, and I’m still green in the profit column. + +I’m not giving advice to anyone, but my personal changes going forward are: + +-Never hold overnight. I have no interest in stressing on what kind news may or may not affect my holdings + +-Dont chase a trade down. No more averaging down. If I make a bad trade, I will get out and accept the loss. + +-Green is green. If your trade is successful, take the profit. I’ve gotten caught multiple times hoping for more reward, then losing my initial profits. + +-FOMO can kill your account, if you missed the boat, look for something else + + +I’m not looking for tips or tricks, writing this to help me make sure I follow my own rules moving forward. + + +TL:DR. Laid off, put 28k into day trading account, made money, lost money, learned a shit ton. +**Just wondering if it's safe to retire early using this. Imo ABSOLUTELY NOT but** just asking in case there's someone here with 10+ years of experience who can prove me wrong.. or someone you know of + +PS Between 2000 and 2012 the S&P500 had a 0% return due to the two financial crashes. If you had invested in 2000 like a regular boomer and your SWR is 4%, you'd have had to sell about 4% times 12 years = 50% of your stocks by 2012, and because your stocks crashed on day 1 and you started selling for consumption, you missed out on part of the recovery. In short, you might've lost 75%. So there's that too +Welcome to the ETH Daily Discussion thread of /r/EthTrader. + +*** + +The thread guidelines are as follows: + +- All sub rules apply here. Please review our **[rules page](https://www.reddit.com/r/ethtrader/about/rules/)** to become familiar with them. The rules page is also linked in the announcement bar above. +- General discussion topics include, but are not limited to, events of the day, technical analysis, alternative Ethereum projects, or support issues. +- Breaking news or other important content should be submitted as a separate post. +- In-depth altcoin discussions should be referred to the /r/CryptoCurrency discussion thread. To view the thread, [follow this link](https://np.reddit.com/r/CryptoCurrency/search?q=%5BMonthly+General+Discussion%5D&restrict_sr=on&sort=new&t=all) and choose the latest entry on the search page. +- Pumping, venting, trolling, or any other similar behavior **should be reported** and redirected to the /r/CryptoMarkets trollbox thread. To visit this thread, [follow this link](https://np.reddit.com/r/CryptoMarkets/search?q=Trollbox+Thread&sort=new&restrict_sr=on&t=all) and choose the latest entry on the search page. + +*** + +* For newcomers who have basic questions about Ethereum, you can find answers by visiting /r/EthereumNoobies or our [Ethereum Education wiki page](https://www.reddit.com/r/ethtrader/wiki/education). + +* **[EXPERIMENTAL]** - To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Thank you in advance for your participation. Enjoy! + +As the title states :( Reading posts in this sub from others who have been in my shoes has been a source of comfort though, and I'd like to post about what happened to me, in case it in any way helps someone else avoid being victimized in the same way. + +I was approached by a man outside my bank this afternoon who showed me a money order check for $990. He told me it was his daughter's birthday, and because his own account was overdrawn by $500, he asked if I could deposit the money order for him and give him the cash, minus $40 for my troubles. That way, he would have $950 to spend on his daughter instead of the $490 he'd get from depositing it into his own overdrawn account. + +I should've been hearing major alarm bells at this point, but he caught me in a moment when I was slightly in a hurry and on a day I was in a good mood. My only previous experience with money orders was knowing that they're meant to be guaranteed funds, I didn't really question that it could be fake. So I deposited the money order at the ATM into my account, which accepted the funds, and withdrew $990. I honestly did feel a slight tingle of doubt as I handed him the wad of cash, but...foot in the door syndrome I guess. I looked at him and said "I'm choosing to trust you." He thanked me, stated he wasn't the type of person to do that, and offered me $40 back. I declined and told him to keep it for his daughter. + +He left before me, as I had another check to deposit. The bank is on a busy street in Brooklyn and as I walked out a few minutes later, I was waved over by a group of women who were selling masks on the sidewalk nearby. As soon as they called to me, my stomach sank because I understood immediately what had just happened. I felt foolish for taking that leap of faith on a complete stranger. But it's been a rough year for many people, while I have been blessed with stable income throughout the pandemic. I wanted to help...I myself moved to the neighborhood last winter and have encountered many random acts of kindness, and I just wanted to believe that he was telling the truth. + +Anyway, the ladies told me that guy had been hanging around the bank for weeks, and were upset for me when I told them how much I'd given him. They brought me inside the bank to speak with the security guard, even though at this point I didn't have any intention of trying to get the money back. I was visibly upset as I told the security guard what happened, and he was very comforting. After a gentle lecture on not trusting strangers, he told me that ultimately I did what I did out of kindness, and that the universe will return that energy and provide in other ways. + +I know this is a learning lesson, one that costs some people much more, and that what I lost today is ultimately replaceable. Trying to be thankful for that instead of feeling like a gullible idiot :( +I've blown up my account before and I promised myself that when I would trade again, I would need to be more disciplined and consistent with my original strategy. + +Since I found theta gang, I was doing quite well wheeling since November with decent return, especially with PLTR. I was very happy to see that my portfolio was consistently green, even on days with high volatility. However, I was tempted by the hype of GME and decided to throw all my gains + 20% of my portfolio on calls/stock when it was around the mid 300s. Needless to say, I exited today losing all my gains + a good percentage of my cost basis (mid-5 bagger). Yes I would be considered "paper hands" and yes I bought high, sold low. But the insanity of waking up every morning and being glued to my phone the entire day was such a mental burden. It affected my work performance, study habits and my general well-being. + +The enticement of 1000% returns and the constant banging of the short/gamma squeeze drum completely obscured the promise that I made to myself. + +So here I am, humbled once again, reminding folks that are tempted to deviate from their original plan, to be steadfast and patient. It's probably going to take a me a while to recover but this particular loss was much more visceral and a very expensive lesson to not get caught in the echo chamber that is WSB. I seemed to have forgotten that I was suppose to sell options to degenerates not join them. + +Anyway, love you theta gang. Always solid discussions and strategies here. + +Edit: Not 5 bagger, 20 bagger. My dumbass confused the bagger terminology for number of digits. +Axis Mutual Fund is believed to have sent two of its top fund managers, Viresh Joshi and Deepak Agarwal, on leave. + +According to ET NOW, the decision to send them on leave came after allegations of front running. + +Sebi is believed to have taken cognisance of the case and launched a probe but there is no official clarification either from the regulator or the fund house. + +Joshi has been a part of Axis MF for last ten years since its inception and managed five of its schemes while Agrawal was fund manager of Axis Consumption ETF, Axis Quant Fund and Axis Value Fund, moneycontrol reported. + + +https://economictimes.indiatimes.com/industry/banking/finance/banking/under-scanner-for-front-running-axis-mutual-fund-sends-two-of-its-fund-managers-on-leave/articleshow/91366248.cms +I am (65M) Fat but not fire (throwaway account), because I don't mind my work and I am worried I may be bored. Let's not discuss about that. + +I have 2 children who I can described as anti-work and I would like to know what other parents would do. + +My eldest was accepted into the university but he chicken out. He does not intend to work and his life goal is to find a spouse who will feed him. He plays computer game everyday and hang out with his friends. + +My second completed her degree more than a year ago. She made token gestures of applying for work but can't find anything she likes. She has a boyfriend who is in finance and they will probably get married. She also indicated that she does not intend to work once she is married. + +I grew up poor and work hard to be where I am now. We live fairly simple life, except for our primary residence. I believe in real estate investing, and I was fortunate to buy a large house more than 25 years ago that has tripled in value. It is worth about 15 million (rough guestimate, in USD term). In my children's eyes, we are rich because most of their friends probably stay in residences worth a lot less than that. We also have other investments that they don't know about. + +With the inheritance that they may get, my children can Fatfire without working a single day of their life. + +My problem is this anti-work attitude bothers me. We argue frequently and it is affecting our relationships. + +What would you do. + +Edit: + +Many thanks to everyone who has replied. Will read them slowly. Maybe one day will update what action I took and how it works out. + +&#x200B; +&#x200B; + +https://preview.redd.it/i16dknd0fjb71.png?width=1600&format=png&auto=webp&s=0aae62c884f9872d26e2b8ae5d6e8344611a3f36 + +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/gqvt0z82fjb71.png?width=680&format=png&auto=webp&s=d6fa5c9a9d6d0d044a6a7afe0556a5f2d8fe5b55 + +The reverse repo's for the day + +&#x200B; + +https://preview.redd.it/sivde6y7fjb71.png?width=640&format=png&auto=webp&s=b9a1d0230c67b685babfc6247b290c6dbf34193b + +69, Noice + +# Netflix + +&#x200B; + +[credit to u\/Square-Translator-44](https://preview.redd.it/i7pcglkcfjb71.png?width=828&format=png&auto=webp&s=68ca33ad119507d5b58dbda3ca1cfd4671c65d54) + +&#x200B; + +Netflix hires one person for/from a game development studio... so that's why GME is down according to them. + +Just imagine what they'll report once they figure out that gme poached top Amazon workers, it may be the reason gme is stable now... sarcasm btw + +for the new apes on the scene this kind of stuff is fairly typical for mainstream media, Gme does good and goes down, no news + +Another company even breathes, OH THIS IS WHY GME IS DOWN, without any correlation between companies. + +&#x200B; + +https://preview.redd.it/89uvfe9igjb71.png?width=640&format=png&auto=webp&s=949bfd030b265ea01e9f8cd27795320487fb446a + +# Blackrocks insane earnings + +As some of you (most likely all of you) know, blackrock is one of the biggest players on the block, they're also the guys who are backing Gamestop and Toys R us (yes TRU is still alive and kicking, but their stock is not publicly traded and blackrock is backing them both). + +Personal theory of mine, GME will eat up TRU and also offer toys but that's for another writeup. + +Now they had an insane earnings report and another ape did a write up on their earnings: + +[https://www.reddit.com/r/Superstonk/comments/ol7w67/blackrock\_earnings\_insane\_results\_breakdown/](https://www.reddit.com/r/Superstonk/comments/ol7w67/blackrock_earnings_insane_results_breakdown/) + +[TMNT ON NES](https://preview.redd.it/6kjnpfhpgjb71.png?width=640&format=png&auto=webp&s=7515307acfdb65702bf4c14e32dfff31688f4af0) + +# Vanguard added 366k shares of GME to their ETFs! + +u/Turdfurg23 Has written a small piece on how Vanguard has added 366k shares of gme to their ETFS, you can check it out [here](https://www.reddit.com/r/Superstonk/comments/okz7jx/vanguard_added_366k_shares_of_gme_to_their_etfs/) + +# FTD's + +thanks to u/Maximito, he has gathered the FTD data of GME + +https://preview.redd.it/gf3y7kguhjb71.png?width=735&format=png&auto=webp&s=1642cb6baf55df431254b1185f671384d6b455bf + +Now it would be interesting to start looking at ETF's and the stock itself, as we all know they've been using ETFS more than just the stock itself, so it would be interesting to see those get combined, and see how many are actually failed to deliver + +https://i.redd.it/kbjfc1qvljb71.gif + +# Cashgrab + +Now lets talk about the latest cashgrab, most of the people involved with this will most likely try to chew me out or not be happy about me saying this but HOLY FUCK my expectations were low, but god damn... + +(Also for the people who are tagged in the post, I'm not sure if they are involved or just being tagged so it gets more exposure) + +Alright lets talk about it : + +&#x200B; + +https://preview.redd.it/rahtcvvrijb71.png?width=320&format=png&auto=webp&s=6f413a82df45192398cf4864f73be246be04b91a + +Jesus Christ, tell me you're trying to profit off of a movement without telling me you're a grifter. + +These guys are charging from 200 ish bucks to a 1000 bucks TO GO TO A CASINO + +&#x200B; + +https://preview.redd.it/kd4lfb92jjb71.png?width=320&format=png&auto=webp&s=e29389ea8be7ba7dfea800754d2206e8e4a44a86 + +When confronted you'll get greeted with "BUT APES NEED A HOLIDAY" "WHY NOT SPEND IT WITH APES" "BUT ITS FOR THE APES" + +I got one for you guys, a couple of things actually. + +1. the squeeze has not happened therefore its dishonest to say it's about vacation, it's about exploiting your userbase to get more cash +2. If you think this is about GME/AMC/ANY STOCK, it's bullshit this is a cashgrab, cash apes could better spend on ANY stock they like +3. Be sure to hit that Superchat to pay 1000 bucks to spend 2 minutes with a guy who streams... + +&#x200B; + +But yeah, the squeeze has not happened yet, we are currently in the middle of everything and you're setting up a "festival" ? Victory has not been achieved, wtf is there to celibrate? by all means Plan some apefest stuff once it has happened, people have had their tendies. + +This is using your "status" to exploit people. + +This is also the easiest way to get to "Dox" people. + +But in case you think it's just me, let me bring you some more tea. + +&#x200B; + +https://preview.redd.it/dds9hfjakjb71.png?width=1080&format=png&auto=webp&s=dac6519f4b2dc32bf5d43966cdf4dd7261294771 + +&#x200B; + +https://preview.redd.it/yavdvobikjb71.png?width=960&format=png&auto=webp&s=4e720050e6a0a08c692dd68aae6823a37f503e7f + +&#x200B; + +https://preview.redd.it/hr9m61dkkjb71.png?width=960&format=png&auto=webp&s=672974bd0dcd9145da2885053c48b7fd55483327 + +So before you get some BS on "YoU'Re JuSt MaD BeCaUsE iT's AMC" nah you idiot, I'm mad that you're trying to exploit people, and guess what? so does most of your user base. + +&#x200B; + +https://i.redd.it/g4kjd66aljb71.gif + +You want to party? awesome go have fun, I'd honestly advise people to go out on the weekend, have fun and relax. But if someone wants you to pay to hang out with them... big no no. + +&#x200B; + +On that final note, it's friday, it can either be the best day of our lives, or just a regular friday like our buddy Mac loves to say, but it will be interesting nonetheless! especially with all those juicy options on the board today 😉 + +&#x200B; + +https://preview.redd.it/mxxu01obmjb71.png?width=554&format=png&auto=webp&s=287b55e2c3a380931d2e58a12c3090bf72ccfae4 + +# 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. + +**ALSO DONT TRY TO EXPLOIT YOUR FANBASE, THIS WOULD ALSO BE EXCELLENT!** + +&#x200B; + +https://preview.redd.it/jfp29ozgmjb71.png?width=400&format=png&auto=webp&s=860b7f53b7ff5122b439d01f65d207b36a7cc3bb + +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) +Reliance Industries on Saturday told BSE its agreement to buy Future Retail for almost Rs 25,000 crore cannot be implemented after lenders to the retail company rejected the deal. + +Reliance said in a regulatory filing Future Group companies comprising Future Retail Limited (FRL) and other listed companies involved in the scheme have intimated the results of the voting on the scheme of arrangement by their shareholders and creditors at their respective meetings. + +Majority shareholders and unsecured creditors of Future Retail, Future Lifestyle Fashions, and other group firms have voted in favour of the scheme of amalgamation with Reliance Retail, the company said on Friday. + +However, a majority of the secured creditors of four out of the five Future companies (for which voting results are announced) voted against the resolution required to pass Future Group’s Rs 25,000-crore scheme to sell most of its retail and logistics businesses to Reliance Group. + +In Future Lifestyle Fashions, 81.91 per cent of the shareholders voted in favour of the scheme of amalgamation, and so did 93.93 per cent of the unsecured creditors. + + +Shareholders of the six listed Future Group companies voted on Wednesday. Bankers said all the large lenders had rejected the proposal. + +Lenders rejected the slump sale of Kishore Biyani’s Future Group to Reliance Retail, multiple sources told Business Standard on Friday, after e-voting was conducted on Thursday, citing “uncertainty over the entire proposition” for rejecting the proposal. + +After the lenders’ rejection, the only option for the resolution of Kishore Biyani’s retail chain is going to bankruptcy court. + +“...the secured creditors of FRL have voted against the scheme. In view thereof, the subject scheme of arrangement cannot be implemented,” said Reliance in the exchange filing. + +[Source](https://www.business-standard.com/article/companies/reliance-calls-off-deal-with-future-after-secured-creditors-reject-it-122042300571_1.html) +Whilst it's been expected for a while, just today it's been confirmed that Deliveroo will list on the LSE, as a result of changes made to the listing rules. + +&#x200B; + +Whilst I haven't been excited about recent IPOs, this (and potentially Darktrace) look like the innovative tech companies that London has clearly been missing. Whether I'll jump in at the start, though, I'm undecided... What are your thoughts, does it seem like a good call? + +&#x200B; + +[https://news.sky.com/story/chancellor-hails-british-tech-success-deliveroo-as-it-confirms-london-ipo-pick-12235393](https://news.sky.com/story/chancellor-hails-british-tech-success-deliveroo-as-it-confirms-london-ipo-pick-12235393) +This thread is the direct continuation of my previous entry, which you can find [here](https://www.reddit.com/r/Forex/comments/hlcsvz/25_years_and_145_backtested_trades_later/). I have the feeling my rambles may be long, so I'm not going to repeat anything I already said in my previous post for the sake of keeping this brief. + +**What is this?** + +I am backtesting the strategy shared by ParallaxFx. I have just completed my second run of testing, and I am here to share my results with those who are interested. If you want to read more about the strategy, go to my previous thread where I linked it. + +**What changed?** + +Instead of using a fixed target of the -100.0 Fibonacci extension, I tracked both the -61.8 and the -100.0 targets. ParallaxFx used the -61.8 as a target, but never tried the second one, so I wanted to compare the two and see what happens. + +**Where can I see your backtested result?** + +I am going to do something I hope I won't regret and share the link to my spreadsheet. Hopefully I won't be doxxed, but I think I should be fine. You can find my spreadsheet at [this](https://docs.google.com/spreadsheets/d/1WMOoMlc11PAN21rP4rhAv8r4xXL9pdllWYmjXpLcPBA/edit?usp=sharing) link. There are a lot of entries, so it may take a while for them to load. In the "Trades" tab, you will find every trade I backtested with an attached screenshot and the results it would have had with the extended and the unextended target. You can see the **UNCOMPOUNDED** equity curve in the Summary tab, together with the overall statistics for the system. + +**What was the sample size?** + +I backtested on the Daily chart, from January 2017 to December 2019, over 28 currency pairs. I took a total of 310 trades - although keep in mind that every position is most often composed by two entries, meaning that you can roughly halve this number. + +**What is the bottom line?** + +If you're not interested in the details, here are the stats of the strategy based on how I traded it. + +* **Extended:** 223.46 R of return, 2.34 of profit factor, 0.72 R of expected value, 46.13% winrate. The average win is 2.72 R while the average loss is -1.00 R. + +* **Unextended:** 172.20 R of return, 2.19 of profit factor, 0.56 R of expected value, 53.23% winrate. The average win is 1.92 R while the average loss is -1.00 R. + +* The highest drawdown for both systems was 18 R. This seems like a lot, but remember you're splitting risk in half. + +[Here](https://imgur.com/zSHLKLt) you can see the two uncompounded equity curves side by side: red is unextended and blue is extended. + +**Who wins?** + +The test suggests the strategy to be more profitable with the extended target. In addition, most of the trades that reached the unextended target but reversed before reaching the extended, were trades that I would have most likely not have taken with the extented target. This is because there was a resistance/support area in the way of the -100.0 extension level, but there was enough room for price to reach the -61.8 level. + +I will probably trade this strategy using the -100.0 level as target, unless there is an area in the way. In that case I will go for the unextended target. + +**Drawdown management** + +The expected losing streak for this system, using the extended target, is 7 trades in a row in a sample size of 100 trades. My goal is to have a drawdown cap of 4%, so my risk per trade will be 0.54%. If I ever find myself in a losing streak of more than 8 trades, I will reduce my risk per trade further. + +**What's next?** + +I'll be taking this strategy live. The wisest move would be to repeat the same testing over lower timeframes to verify the edge plays out there as well, but I would not be able to trust my results because I would have vague memories of where price went because of the testing I just did. I also believe markets are fractals, so I see no reason why this wouldn't work on lower timeframes. + +Before going live, I will expand this spreadsheet to include more specific analysis and I will continue backtesting at a slower pace. The goal is to reach 20 years of backtesting over these 28 pairs and put everything into this spreadsheet. It's not something I will do overnight, but I'll probably do one year every odd day, and maybe a couple more during the weekend. + +I think I don't have much else to add. I like the strategy. Feel free to ask questions. +So I just thought I’d share this for other new traders because it has really helped me make consistent profits and also keep my head in the right state of mind. + +I have been doing very well with setting a profit target each day and then stopping when I hit it. No if ands or buts. I scalp momentum (3 and 4 bar plays) and noticed I could very consistently hit 1% every morning in the first hour. But then I wanted to stay in the market. Others in my chat room do and post huge gains everyday Id tell myself. I wanted to learn more. I was going to only go after the best plays. But I’d always just start playing anything I was learning about. Oh VWAP bounce!! Better buy. ABCD. Better buy! I’d win some. But I’d lose a lot more. I’d hit my daily cutoff point far too often because I was just in the market for too long. + +So I’m playing it very conservatively and only shooting for 1% every day but as that compounds I’ll be learning and studying more and more as well. So far I’ve hit my target almost every day and my mindset is also fresh and positive. The itch is there every day to stay in and keep going but the positives, taking the profit and quitting, have far outweighed that itch. + +Thought I’d share my experience and maybe it’ll help someone else turn the corner too. +I really love Elon musk and think Tesla has a future beyond just cars but I’m a little skeptical of investing even just a few hundred dollars because I have a feeling a crash is inevitable. What should I do how should I proceed? Note: I’m still very new to investing and am starting to educate myself by reading “invested by Danielle town, little book that beats the market, and investing 101 by Michelle cagan, with Intelligent investor up next on my list. +Hello all, + +I am in a fortunate position to have saved about 25,000 EUR. I only have a small loan, I don't pay rent or mortgage, and my total net income (4500 EUR/month, likely to increase to about 7,000 EUR late this year for at least a year) is more than I can spend so I am able to save quite a bit for now. + +At the moment I reside in Bulgaria where taxes (on capital gains, etc) are relatively low. I am not interested in buying property specifically in Bulgaria, nor am I interested in crypto assets. Having said that, what do you think I should do with this money? + +(throwaway account) +The amount of posts on coin trading/market subs from brand new users proudly boasting their first purchases, and subsequently asking how to sell because they lost money is absurd. + +HODL is not a helpful response when they've blindly invested at an unusually volatile time in the market. Not all cryptos will have an uptick in a time frame that is acceptable for them, since they dumped in money they couldn't afford to lose because they expected a massive, quick ROI. + +As enthusiasts who have done the research, made the mistakes, and understand why a respective coin's tech will or won't flourish, it is incumbent that we help people see the cypto space as more than a store of value. +Pandora papers showed that people are using loopholes in tax laws to hide their wealth in tax havens to hide their wealth or ill gotten gains. They are not using cryptocurrency to do that, there are plenty of loopholes in tax laws for doing it legally. + +The rich are holding properties and investments under a network of offshore companies that are set up in other countries, or "offshore". + +These offshore countries or territories are where: + +\- it's easy to set up companies + +\- there are laws that make it difficult to identify owners of companies + +\- there is low or no corporation tax. + +The best part of it is that using tax havens to dodge taxes is not illegal. Loopholes in the law allow people to legally avoid paying some taxes by moving their money or setting up companies in tax havens, but it is often seen as unethical. + +Its estimated that from $5.6 trillion to $32 trillion is hidden in tax havens, according to the ICIJ. The IMF has said the use of tax havens costs governments worldwide up to $600bn in lost taxes each year. + +To hide money all you need to do set up a shell company in one of the countries or jurisdictions with high levels of secrecy. This is a company that exists in name only, with no staff or office. It costs money though. Specialist firms are paid to set up and run shell companies on your behalf. These firms can provide an address and names of paid directors, therefore leaving no trail of who is ultimately behind the business. + +When such a huge amount of money is hidden in offshore havens, the rich still blames cryptocurrency as the culprit for money laundering. This is classic gaslighting. They are projecting and blaming the most vulnerable group, what they do themselves. + +This legal way of tax dodging will never end because the people that could end the secrecy offshore are themselves benefiting from it. So there's no incentive for them to end it. + +Its time more people speak up against this and move more towards cryptocurrency where all data is independently verifiable. + + + + +EDIT 1: It was a mistake on my part to say crypto is not used for money laundering. I saw that Bill Gates mentioned cryptocurrency as an innovation that the world can do without because it is sometimes used for criminal activities and with the current pandora papers leak where the ultra rich was dodging taxes using tax havens and trusts and thought , here is a guy doing borderline unethical things to dodge taxes and is bad mouthing a nascent technology because it is used for criminal activities by a small section of people taking advantage of its use cases. He was saying the world doesn't need crypto without seeing it's far reaching positive sides. + + +I thought if a few criminal activities makes him think that crypto should be stopped, why doesn't he say the same thing about the banks, law firms and other institutions that promote, support and enrich from tax dodging. That's why I made the post. +I am sorry I made the mistake in the headline, it was unintentional. + +I didn't expect the post will blow up or will be seen by more than a couple of people. Sorry again. +If you believe in crypto you are in it longterm. For those that are exiting, just know you would have never held until now had you bought at sub dollar prices. + +You can only beat the algorithm and high frequency traders if you hold longterm. Crypto is a long play. +As a layperson, it seems like a terribly paltry amount considering the magnitude of the issues many are facing. + +Nonetheless, I was curious how great the effects of a one time payment injection like this can actually be on the macroeconomy? Thanks! +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! + +Selecting a Bank account depends on individual preferences. Most of the individuals would have a bank account/ salaried account. A lot of individuals would have different bank accounts which cater to different purposes - For Example - Emergency Funds Account / Separate Account for a large expenses - Travel/ Marriage etc. + +I break down Bank Accounts into general preferences and will note down which options would suit a particular Individual. + +Safety of Money - Safety of money is the primary reason of putting money in bank. If a bank is mismanaged, it can lead to a person’s life savings getting eroded. + +Under the deposit insurance and credit guarantee corporation (DICGC) RBI has insured up to a maximum of Rs. 5 lakhs (principal + interest) if the bank’s license is cancelled or the bank is liquidated. If there is a joint account, each account will also be insured at Rs. 5 lakhs. All commercial and co-operative banks are included in the insurance policy. + +If the amount exceeds 5 lakhs in an account, the hierarchy of safety of Bank Accounts should be + +a) Systematically Important banks - Systematically important banks or banks that are too big to fail are amongst tZhe safest banks to invest because of their sheer size means that a failure of the banks would be catastrophic for the Indian economy. They are thus regulated to higher regulatory measures including additional common equity requirement. + +Currently there are 3 banks in the Systematically Important banks - SBI, HDFC Bank and ICICI Bank. + +b) Public Sector Banks- Public Sector Banks are amongst the safest banks as they are backed by the government. No government can afford to let a public sector bank fail as it may lead to economic chaos and political instability. + +Public Sector Banks - Bank of Baroda, Punjab National Bank, Canara Bank, Indian Bank, Bank of India, Indian Overseas Bank, Central Bank of India, Punjab and Sind Bank, Bank of Maharashtra. + +Note : Some of the banks are in discussions of getting privatized and may not be in the safest category. + +c) Large Private Sector Banks - Private Sector Banks with a good track record of corporate governance provide a good margin of safety. + +Large Private Sector Banks - Axis Bank and Kotak Mahindra Bank. + +d) Other Private Sector Banks & Foreign Banks - Next in line would be other private sector banks which are small to medium sized banks. + +Other Private Sector Banks - IndusInd Bank, Bandhan Bank, IDBI Bank, IDFC First Bank, Federal Bank, RBL Bank, City Union Bank, CSB, DCB, Karur Vysya, Karnataka Bank, J&K Bank, DBS and other banks. + +e) Small Finance Banks - Small Finance Banks have a shorter operating history than other banks and are thus below private sector banks. + +Small Finance Banks - AU Small Finance Bank, Ujjivan SFB, Equitas SFB and others. + +f) Co-operative Banks - Most Bank failures fail are in co-operative Banks. 1551 urban co-operative Banks failed in 2018. + +PMC Bank was amongst the top 5 urban co-operative banks in India before its failure which shows the systematic risk in co-operative banks. + +Larger Co-operative Banks - SVC Bank, Saraswat Bank, Cosmos Bank and Bharat Bank. + +Note : No depositor money has been lost even incase of larger bank failures such as Yes Bank, PMC Bank, Lakshmi Vilas Bank though there has been moratorium and other restrictions for different banks for different periods. + +After going through the above list, I have select 10 banks across different types for running past them the test + +SBI , HDFC Bank and ICICI Bank - Too Big to fail Banks + +Kotak and Axis Bank - Large Private Sector Banks + +IDFC First and RBL Bank - Smaller private sector Banks + +AU SFB and Equitas SFB - Small Finance Banks + +DBS - Digital Foreign Bank + + +Minimum Account Balance - Maintaining a minimum account balance is difficult for individuals and a lot of individuals would prefer lower minimum account balance as the penalties may erode your bank account balance Below are the banks with their Minimum Account Balance requirements (not including Basic Savings Bank Deposit Accounts as its has a maximum account balance of Rs. 50000 and other restrictions). + +Kotak 811 - Digital onboarding - MAB - Nil + +SBI Savings Bank Account / SBI Basic Savings Account - Nil. + +RBL Bank - Digital Onboarding - Prime Digital Savings Account - Rs. 5000. No MAB if RD/ SIP of 2000 is taken. + +Digi bank by DBS - Digital Onboarding - MAB - Rs. 5000 + +Niyo X Equitas Digital Savings Account - Digital Onboarding - MAB - 10000. However, there are no charges on non-maintenance of MAB as on date. + +IDFC Vishesh Savings Account - MAB - 5000. + +AU Savings Account - MAB - 5000 + +HDFC Bank - Regular Savings Account - MAB Rs. 10000 - Urban / Metro (There are other accounts which have more benefits and MAB for the same are Rs. 25000) + +ICICI Bank - Regular Savings Account - MAB - Rs. 10000 - Urban / Metro (There are other accounts which have more benefits and MAB for the same are Rs. 25000) + +Axis Bank Easy Access Savings Account - MAB - 10000 - Urban / Metro (There are other accounts which have more benefits and MAB for the same are Rs. 25000) + +The benefit of digital account is the ease of opening and operating an account and how efficient it is and it saves the hassle of going to a branch and stuff. I personally use Kotak 811 which is a zero balance account and has no charges for online bank transfers and works perfectly for an emergency / second account or for a pure digital account. Mobile banking works well and the on-boarding procedure was seamless. + +If there are other decent zero balance accounts / digital banks, comment below. + +Interest Rates - + +Savings Account - When starting out every penny counts, Attaching the Savings account interest rates for the selected banks. + +RBL Bank - 4.25% upto 1 lakh, 5.75 % from 1-10 lakhs + +IDFC First Bank - 4 % upto 1 lakh, 4.5 % from 1- 10 lakhs + +Equitas (Niyo X) - 3.5 % upto 1 lakh, 7 % from 1-10 lakhs. + +AU Small Finance Banks - 3.5 % upto 1 lakhs, 5% from 1-10 lakhs. + +Kotak Mahindra Bank - 3.5% upto 1 lakh, 4% from 1 to 50 lakhs. + +DBS - 3.25 % upto 1 lakh, 3.5 % from 1-2 lakh and 4 % from 2-5 lakhs. + +HDFC Bank - 3.50 % upto 50 lakhs + +ICICI Bank - 3% upto 50 lakhs + +Axis Bank - 3% upto 50 lakhs + +SBI - 2.70 % + +Fixed Deposits for the Banks - Fixed deposits are the most preferred security investment for Indians. Below are the banks with their interest rates for FD as on date . The rates are for 1 year (+1 day for general citizens ) + +RBL Bank - 6.50% + +Equitas - 6.35 % + +AU Small Finance Bank - 6.10 % + +IDFC First Bank - 5.50% + +Axis Bank - 5.1% + +SBI - 5% + +ICICI Bank - 4.90% + +HDFC Bank - 4.90% + +Kotak - 4.5% + +DBS - 4.25 % + +Other facilities - + +Public Provident Fund - Public provident Fund is a decent investment which provides a solid interest rate is tax exempt. Of the selected Banks only a few banks provide Public provident fund facility. + +SBI + +HDFC Bank + +ICICI Bank + +Kotak Bank + +Axis Bank + +ASBA - ASBA Facility is the most reliable way for applying for a IPO and for some individuals having an ASBA account is very important. All selected banks except Equitas SFB provide ASBA Facility. + +HDFC Bank + +ICICI Bank + +Kotak Bank + +Axis Bank + +SBI Bank + +RBL Bank + +IDFC First Bank + +DBS + +AU Small Finance Bank +g and Customer Care - The opinions would be relating to my personal experience and can differ from person to person. + +SBI has a bad rep for having bad customer care and I would partly agree to it, if you have some issues, it may take a longer time to resolve. However amongst the larger banks, the digital infrastructure of SBI is very robust and amongst the best I have used. + +HDFC Bank has the worst internet banking system spewed with a 1000 ads and promotions and is very unreliable, also I have had bad experiences even relating to customer care by the Bank. + +ICICI Bank due to their size also has frequent downtime issues however it is slightly better than HDFC Bank. + +I have personal accounts with Kotak 811 and RBL Bank and can personally vouch their digital and mobile banking infrastructure is very good. I have had no complaints from that end. + +Digi Bank and Niyo X also have solid internet infrastructure and have had solid reviews at least from people who I know. + +IDFC First Bank earlier had a very liberal savings account interest rate but that is not the case now. There were some issues with ASBA account in which not all IPO’s were available, I am not sure if that has been resolved. - Example - Brookfield REIT was not listed. + +I have not used AU SFB and Axis Bank accounts so don’t really have an opinion, but online reviews for both are fairly positive. + +Conclusion - I have tried to put a basic set of list to enable individuals making a more informed decision about opening a bank account. Let me know if you use any bank accounts which are very efficient and if you have a positive opinion on the same. +Recently, I started a second job at a grocery store. I make decent money at my day job (49k+ but awesome benefits, largest employer besides the state in the area) but I have 100k in student loans and $1000 in credit cards I want gone. I was cashiering yesterday, and one of my coworkers came into my store, and into my line! + +I know he came to my line to chat, as he looked incredibly surprised when I waved at him and said hello. As we were doing the normal chit chat of cashier and customer, he asked me, "Aren't you embarrassed to be working here?" I was so taken aback by his rudeness, I just stumbled out a, "No, it gives me something to do." and finished his transaction. + +As I think about it though, no freaking way am I embarrassed. Other then my work, I only interact with people at the dog park (I moved here for my day job knowing no one). At the grocery I can chat with all sorts of people. I work around 15 hours a week, mostly on weekends, when I would be sitting at home anyways. + +I make some extra money, and in the two months I've worked here, I've paid off $300 in debt, and paid for a car repair, cash. By the end of the year I'll have all [EDIT: credit card] debt paid off, and that's with taking a week off at Christmas time. + +Be proud of your progress guys. Don't let others get in your head. + +TL, DR: Don't be embarrassed for your past, what matters is you're fixing it. +BTC is at $41-42k. ATH was at $69k. That’s a 40% drop from ATH, and that drop has just been growing and growing for more than two months now. + +That’s a bear market. Yeah, it’s not a crypto winter, but multiple months of falling prices qualifies as a bear market, even if it’s short. Just like last summer was a bear market. It might get worse, or it might not. + +Call it what it is. It’s not something to be afraid of; bear markets are where foundations are built. The people who are saying “Oh, this is just a dip” or “This is just a typical correction” are in denial and don’t know what the fuck they’re talking about. +There has recently been a user who posts super well written DD on certain stocks, and then the price will jump 50% (or even 200%) in about 30 minutes. Make sure you’re checking when that post was made because otherwise, you’re going to be buying at the top of a major pump. The price will likely fall down close to where it was before and then you will have a much better chance to buy in and get gains. When a stock is $3 and the DD says it’s price target is $7, generally that means that within the year, they expect the price to reach $7 - not within the day or week. + +Just be careful buying stock an hour after a convincing DD is posted, that is all. + +Disclaimer: I do think this user’s DD is very well written and he finds good stocks to invest in. I just think that waiting a day or two after the initial post would provide a better entry point. +So basically, Wikipedia's articles about economic history are subpar to say the least. From what I understand so far, Keynesianism comes after classical economics. After which, we get new classical economics as a response (?) which gets neo Keynesians as a response to that. Which in turn leads to the neoclassical synthesis (I think?). Then you have neoclassical econ and new keynesian econ (which is basically monetarism but with fiscal policy at ZLB) and that leads to new neoclassical synthesis. Also for some reason Wikipedia states that neo Keynesians are called old Keynesians now? + +Anyway I'm certain that most of what I said above is bullshit so I really want someone to explain to me exactly which school of thought came when, what they believed and who represents them. +Unfortunately it was a lump sum. Luckily i invested in the SPY ETF broad index fund, but still it hurts a lot that my balance is now only 160k! What should i do? just wait and DCA? I mean it will probably take years to break even! This was like 90% of my net worth being crushed on a daily basis, i feel bad and depressed, i followed the advice of just keeping 6-12 months for emergencies and the rest for investing.... + +i need a hug!!!! +**tl;dr:** I found around **79M** can kicked shares in Jan 2021 using the married put approach. We can see those cans kicked out 1, 2, 3, 6, 12, and 24 months from Jan 2021 at various options expirations. + +After poking around in ToS, I found that I can see exactly when Puts where opened by tracking the daily Open Interest for a put. See my previous post here: [https://www.reddit.com/r/Superstonk/comments/ocen11/historical\_gme\_71421\_options\_oi\_to\_see\_how\_many/](https://www.reddit.com/r/Superstonk/comments/ocen11/historical_gme_71421_options_oi_to_see_how_many/) + +I needed the data in CSV format so I could play with it. So I bought the GME Options Data (surprisingly cheap, about $21) from [https://www.historicaloptiondata.com/](https://www.historicaloptiondata.com/) for 2021 up to end of June. + +I then filtered out the lowest strike Put option for each of the major options expirations (Feb, March, April, Jan 2022 leap, and Jan 2023 leap) during that time and charted the daily Open Interest Change. + +[Daily OI Change for Lowest Strike Puts](https://preview.redd.it/mfk5o6z1r8971.png?width=1097&format=png&auto=webp&s=26b7024d5072bbb0683b9d9c1a3d34e596ddfa4e) + +Guess what? Most of these low strike puts were opened around GME's Jan run up! + +*Wut mean?* Superstonk has been discussing how married puts are used to hide naked shorts in deep OTM puts so this data shows us exactly how far out they kicked those Jan naked short cans down the road AND we can see which expirations have them. We can see pretty much every major options expiration has a ton of new openings in Jan so those cans were kicked 1, 2, 3, 6, 12, and 24 months out (Feb ,March, April, July, Jan 2022, and Jan 2023, respectively). + +|*Option*|*As of 1/4/2021*|*As of 2/1/2021*| +|:-|:-|:-| +|Feb $1 Put|0|52,193| +|March|0 (n/a)|32,907| +|April $0.50 Put|510|43,892| +|July $0.50 Put|168|71,709| +|Jan 2022 $0.50 Put|2,441|106,082| +|Jan 2023 $2 Put|105|16,585| +|**Total**|3,224|**323,368**| + +*Do you see what I see?* There's about 320,000 options opened in Jan 2021 to hide naked shorts and kick those cans *just at the cheapest strike!* That's the equivalent of **32,000,000 (32M) shares**! + +*Wut about other low strikes?* I filtered the options data for two snapshots in time: Jan 4, 2021 (before can kicking) and Feb 1, 2021 (after can kicking). Out of those snapshots, I summed the total open interest for all options with a strike price less than or equal to $20. Here's the results: + +||1/4/2021|2/1/2021| +|:-|:-|:-| +|Total Put OI for all strikes <= $20|309,563|1,101,826| + +The difference there is **792,263 OI**. Basically just shy of 800k new put open interest at super low OTM strikes representing over **79M** shares kicked down the road in Jan 2021! Half of those are hidden in the lowest strike alone. + +**Happy July 4th! We're gonna have a blast!** + +EDIT: Wowza! Thanks everyone! I’ve never had this many upvotes or awards before! You are all amazing! I learned more in the past 6 months about trading and markets from Superstonk than in decades of trading. I’m happy I can give back to the community! +I teach personal finance, principles of business, accounting, and I’m the young investors society sponsor. + +I think ratios are important, mostly because they force you to really analyze the financials. However, they are always a confusing for my kids so I created this guide to help. I’d love your thoughts. + +https://yis.org/wp-content/uploads/2021/05/Ratio-Explanations.pdf +The way I understand it, Venezuela was once a very oil rich country with high wealth inequality. Chávez increased the size of the welfare state in order to help the poor, and ran a pretty big budget defecit. Their economy broke down when oil prices collapsed in the 2010s and the problems were further exacerbated by corruption and economic mismanagement. + +My question is, why didn't countries like Norway, which also distributed its oil wealth to the people, have a similar economic crash when oil prices collapsed? Obviously Norway doesn't have the corruption, but its economy is similarly oil based and never diversified and I belive they have a pretty big welfare state. What made Venezuela special? +Invesco has launched its [Global Clean Energy UCITS ETF](https://etf.invesco.com/gb/private/en/products?query=global+clean) on the [London Stock Exchange](https://www.londonstockexchange.com/stock/GCLE/invesco/company-page), providing a cheaper and vastly more diversified alternative to the iShares Global Clean Energy UCITS ETF. + +The new ETF comes in both a distributing (IE00BLRB0028) and accumulative (IE00BLRB0242) version. It's listed in US dollars (GCLE LN) and pound sterling (GCLX LN) and comes with an expense ratio of 0.60%. + +The fund tracks the WilderHill New Energy Global Innovation Index and currently holds ~~117~~ 95 stocks (as opposed to only 30 in iShares' ETF). You can find a list of all the holdings [here](https://etf.invesco.com/gb/private/en/product/invesco-global-clean-energy-ucits-etf-acc/index-components). + +Edit: Corrected the number of holdings. +Hey all + +been reading Kelton's The Deficit Myth, and she presents Modern Monetary Theory as at a controversial lens through which to look at things. + +What is the controversy. What would a non-MMTer say in response to someone who argued we can most fruitfully understand things through MMT? + +(and where could I read a sceptical view?) +I have been experiencing some of the hardest days of my life and wanted to reinforce that conventional FIRE planning does not do a great job of considering the challenges of old age and a child’s role in helping their parents. My fathers expenses have more than doubled since my mother died. He has a degenerative disease and has to pay for people to come to his house to help with things like making food and getting dressed. My FIRE budget certainly would not cover these kinds of expenses. In our area, its impossible to find reliable home aids who would be covered under Medicaid after he runs out of money (which will happen this year). So his only other option would be a nursing home. Until he is vaccinated, that is not an option. My family lives in a small home and we have lived a frugal lifestyle. I have no where to put him in my own home and he wouldn’t want to move here anyway. My expenses have also increased as I travel often to see my father and help in any way I can. For those who already live a conservative lifestyle, don’t fall into the trap of planning a retirement budget of 80-100% of your pre-retirement expenses. I am adjusting my approach and setting 150% as my new target. This is causing me to have to completely rewrite my plans. Most elderly people are not going for a walk in the park one day and dead the next. The process can be ugly, time consuming, and expensive. That mini-retirement I was planning may be spent as a caregiver for a parent. If you successfully apply the FIRE principles, people will know it and will come to you for help. Even if they don’t ask, you may feel compelled. Maybe not a parent, but someone close that you care about. Are you prepared for this? (I wasn't) +What? What if anything do I do about this? Honestly would’ve rather had the money stay in my check rather than frivolously spending 100 dollars I though was extra. Wtf? Not sure if this is the right sub but any suggestions on how I handle this would be appreciated. +Considering the falling in the Euro's price it would be a great time to buy good companies listed in Europe. + + +At the moment I am considering Enel which is trading at the same level of the 2020's crash, it also give a nice dividend yield. + + +What are your thoughts ? Do you have any european stock on your watchlist ? +[Before dinner I asked this question.](https://www.reddit.com/r/realestateinvesting/comments/hgdyom/i_am_a_failed_real_estate_investor_heres_what_i/fw3ofzg/?context=3) I went to grab dinner & drinks with a friend. When I settled in for the evening, I came back to 200+ upvotes and dozens of comments proving this was a topic of great interest. + +I'm not going to promote myself, [For I am a river to my people,](https://www.youtube.com/watch?v=noyFiYKlFJU) but you should at least know some of my credentials. + +* I've been in & around ***RESIDENTIAL*** property management for 15 years. +* I look after 620+ properties for about 140 owners. +* I've been licensed for 7 years, and I'm now what we call "BIC Elligible" meaning I could legally take over for the owner of my firm if something happened to him. +* We are a small team of about 4 main employees, 2 part time employees, and 2 seasonal employees +* Also I sold about 2 million worth of Real Estate this year on the side as well. I'm licensed so why not? + +&#x200B; + +**Do you need a Property Manager to make millions with Real Estate?** + +NO! Well sometimes yes, but for the average person, NO!!! The only times you NEED a Property Manager are when you have too many to manage it on your own, or when you buy out of State investments as most local municipalities require someone within the county to manage & coordinate maintenance. + +If you are local to your investment, there is nothing stopping you from managing your own place. Yes You'll have to shop your own repairs, find your own tenants, and collect your own rents, but this is well within reason for anyone with a passing knowledge of how to Google. A Property Manager will cost about 10% of collected rents. That's a significant liability on an investment. If you have the time to put into managing your own, you should definitely put in the research to see if it's the right call for you. I won't spend a lot of time on this however, since self-management is a topic for another day. For now let's just say if you have 15 or fewer properties, you can probably manage those part time by yourself hassle free. Obviously you can increase that number if you live on your investments alone. + +**The Risks of Mismanagement** + +The fact is, a **BAD PM** costs you way more than that 10% fee. Property managers are *Fiduciaries* meaning they are required to put their clients first. But that doesn't mean they are good at their job. Bad management can lead to bad tenants, bad advice, poor maintenance management, vacancies, lawsuits, etc. + +I'm not normally a picky man. I don't need the area's best fry cook everytime I stop in McDonalds, because I'm paying $1 for a greasy, guilty pleasure. I do need the area's best property manager when I invest. Real Estate *costs hundreds of thousands of dollars, just to get your foot in the door* (yes, that's in debt, not in cash, I know, shut up). A single lease can average about $12,000 per year in my po-dunk city. Imagine how much more it is for Los Angeles or New York. If I'm entrusting someone with ***tens of thousands*** of dollars of my money, you damn well believe I'm getting the best one in the area. + +**So then what are Property Managers good for?** + +* Convenience +* Market Analysis & Consulting +* Mediator Between You & Tenants +* Finding QUALITY Tenants +* Limiting Owner Liability - u/Silverbritches + +&#x200B; + +**Convenience** + +Your time costs you money. The average salary in the US is around $55,000 or about $27.50 per hour. If a painter will paint your walls for $15 per hour, it would follow that you are losing money to paint it yourself. The painter can do it cheaper & easier. Same with Property Managers. I know how to market a property to get maintenance & vacancies down to an absolute minimum, and I can probably do it in less time, for less money than you. + +Plus not everyone wants to work a part time job after their regular job. If the property can support a manager, it's perfectly acceptable to hire one so that you can catch that damn Tiger King show and be in the loop for once. + +**Market Analysis & Consulting** + +I look at rentals & homes in my area a minimum 12 times per business day (that's a really slow day), and often on weekends as well. How many of you can honestly say the same? know what colors are "in" right now. I know the flooring that gets scuffed up on moving day. I know that Street A is inflating Street B's rental amounts, so the ROI numbers the other Realtor gave were inflated. Good PMs are tapped into their local market, and can tell you, nearly at a glance what properties should be selling for or renting for. What we can't tell you on the spot we have the ability to look up & support our findings with data. Only the most iconic investors can match that kind of volume. + +**Mediating Tenant Issues** + +Do you have any idea how many times I've been cussed out by tenants? Even today I was called "a fucking monster" because I told a young 'lady' that I expected her to honor the contract she signed. Tenants, especially young tenants, don't realize how much things cost or how much skin is in the game. Therefore they can get really pissy when they don't understand why you sometimes need to tell them no. Owners are not that much better than tenants either. Owners often have blood, sweat, tears, & worst of all *memories* associated with their units. If all I do is prevent swear words from reaching the tenant or owners, that might be worth my 10% fee alone for how many contracts that has saved. + +**Finding Quality Tenants** + +Can't believe I forgot this in the first draft. Make sure your PM is pulling credit reports (I look for 600+), background checks, & doing rental screenings. If a tenant owed their past landlord $5,000 and you approve them, you are asking for the incoming robbery. Talk to your PM about their screening habits and make sure you find the right numbers for your area. + +&#x200B; + +**Limiting Owner Liability - Courtesy of** u/Silverbritches + +>Great pointers. One point that I’ll add to the “what are property managers good for?” is minimizing the owner’s liability. +> +>For instance, know what a Fair Housing claim might look like? Do you know if you have to accommodate an emotional support animal? What paperwork can you request to establish if the dog is an emotional support animal? Is an emotional support animal subject to a pet deposit? If a tenant is in a wheelchair and wants to install a ramp in your rental, who pays for it? A good PM handles each one of these weekly and can easily navigate you through potential pitfalls. +> +>Do you know how to not set yourself up for a bad suit? I can share a story from a potential (I passed) client where they self-managed, placed a tenant in the property, and then after the tenant was in the property found some information which made them believe the tenant had an undisclosed criminal history. The owner called the tenant’s employer, said “did you know whether John Doe has X on his background?” resulting in the employer suspending the employee. The owner then goes to the house and confronts the tenant, resulting in the police being called, with the argument culminating in the owner shouting something to the effect of “you lied to me, you are a dirty criminal”. The owner then was sued for slander, interfering with his tenants employment relationship, and a few other items and ended up with a $15k judgment against the owner for being too meddling. +> +>Do you know your state’s security deposit laws backwards and forwards? Some states have very tight requirements on move-in/move-out inspections, notice periods, tenant right to dispute conditions, enumeration of items to be fixed at move-out, and notice of funds being retained from security deposit. If you mess up, you may be barred from retaining some or all of the security deposit. Some states actually impose an extra penalty (mine is 3x, plus tenants attorney fees) if you don’t timely return a security deposit. If you really mess up a security deposit, you could put yourself in a position where you are barred from suing the tenant (and through him, his rental insurance) for literally burning the house down. + +&#x200B; + +# So How Do You Pick a Good Property Manager? + +* Check their optics +* Interview several PMs in the area +* Negotiate With Them +* Ask Questions/Keep Tabs on Them + +&#x200B; + +**Check their Optics**Is their website professional looking & modern? Do the pictures on their listings look good or are they early iphone blurry? Can you find their listings on Zillow & other websites? Drive by their properties, do they look well maintained (or at least similar condition to yours)? Ask for a tour of a property, is the showing agent professional, pleasant, well informed, a decent dresser? Check out their listings, do they have all the relevant info & an obvious way to contact the agency. Do they have signs everwhere? Are they known in the community? Etc. + +No one is perfect, but they should be scoring high in most categories. + +**Interview several PMs in the area** + +I feel like this should be self explanatory. Even ignoring some of the professionalism points from above. Some PMs are going to be a better fit for you & your portfolio than others. High End Duplexes & Single Family homes around the local college campus are my wheelhouse. If you want someone to manage low-income, I'm not your guy. I focus far too much on tenant relations & cosmetic improvements. Low Income properties needs a PM who can locate quality long-term tenants who won't tear up your property. That takes a 6th sense I don't have. I prefer a Maintenance Tech who is reliable, and is going to show up when he says he will. I don't mind paying extra for that, but maybe you don't mind waiting a week if it means you can save a few bucks. + +&#x200B; + +Just remember, you don't need to like them, they just need to take care of your investment. + +**Negotiate** + +This is more of a general tip, but ask them if they offer any special deals on their management fee. I drop my fee by a percentage point if their home is in one of my preferred areas. I'll drop the fee by another percentage point if they have a high maintenance limit ($1,000 instead of $500). If I don't have to fight with them every time we need to get a plumber out to the property, I'm willing to cut my fee a bit. + +I also provide a service where I'll find you a tenant, but you continue to manage your own property, that has become quite a popular service in the past couple of years. + +**Ask Questions** + +As I mentioned before, I generally prefer reliable maintenance techs rather than trying to get rock bottom prices. But I keep notes on all my owner's preferences. Owners that call in regularly to let me know what they want out of their portfolio, usually get it. Just because you have a PM, don't just "set it and forget it". Ask how they screen tenants. Review your monthly statement with the finance officer, Ask to see the tenant files, Drive by your property to check on it at least yearly. You definitely don't need to call daily, but do continue to check in just to make sure your investment is in good hands. + +[So Where Did This Guy Go Wrong?](https://www.reddit.com/r/realestateinvesting/comments/hgdyom/i_am_a_failed_real_estate_investor_heres_what_i/) + +1. He bought in an area he didn't know. +2. He didn't interview multiple Realtors. +3. Which I would say led to a really shitty property manager +4. Who didn't screen tenants properly +5. With stuff breaking that quickly he either 1) didn't get a good inspection, 2) had shitty tenants 3) bought poor materials. Probably a mix of the 3. +6. Bit off more than he could chew at one time. + +I'm sorry it went south for him, but everything I saw sounds easily avoided with a little extra know how. +[Before dinner I asked this question.](https://www.reddit.com/r/realestateinvesting/comments/hgdyom/i_am_a_failed_real_estate_investor_heres_what_i/fw3ofzg/?context=3) I went to grab dinner & drinks with a friend. When I settled in for the evening, I came back to 200+ upvotes and dozens of comments proving this was a topic of great interest. + +I'm not going to promote myself, [For I am a river to my people,](https://www.youtube.com/watch?v=noyFiYKlFJU) but you should at least know some of my credentials. + +* I've been in & around ***RESIDENTIAL*** property management for 15 years. +* I look after 620+ properties for about 140 owners. +* I've been licensed for 7 years, and I'm now what we call "BIC Elligible" meaning I could legally take over for the owner of my firm if something happened to him. +* We are a small team of about 4 main employees, 2 part time employees, and 2 seasonal employees +* Also I sold about 2 million worth of Real Estate this year on the side as well. I'm licensed so why not? + +&#x200B; + +**Do you need a Property Manager to make millions with Real Estate?** + +NO! Well sometimes yes, but for the average person, NO!!! The only times you NEED a Property Manager are when you have too many to manage it on your own, or when you buy out of State investments as most local municipalities require someone within the county to manage & coordinate maintenance. + +If you are local to your investment, there is nothing stopping you from managing your own place. Yes You'll have to shop your own repairs, find your own tenants, and collect your own rents, but this is well within reason for anyone with a passing knowledge of how to Google. A Property Manager will cost about 10% of collected rents. That's a significant liability on an investment. If you have the time to put into managing your own, you should definitely put in the research to see if it's the right call for you. I won't spend a lot of time on this however, since self-management is a topic for another day. For now let's just say if you have 15 or fewer properties, you can probably manage those part time by yourself hassle free. Obviously you can increase that number if you live on your investments alone. + +**The Risks of Mismanagement** + +The fact is, a **BAD PM** costs you way more than that 10% fee. Property managers are *Fiduciaries* meaning they are required to put their clients first. But that doesn't mean they are good at their job. Bad management can lead to bad tenants, bad advice, poor maintenance management, vacancies, lawsuits, etc. + +I'm not normally a picky man. I don't need the area's best fry cook everytime I stop in McDonalds, because I'm paying $1 for a greasy, guilty pleasure. I do need the area's best property manager when I invest. Real Estate *costs hundreds of thousands of dollars, just to get your foot in the door* (yes, that's in debt, not in cash, I know, shut up). A single lease can average about $12,000 per year in my po-dunk city. Imagine how much more it is for Los Angeles or New York. If I'm entrusting someone with ***tens of thousands*** of dollars of my money, you damn well believe I'm getting the best one in the area. + +**So then what are Property Managers good for?** + +* Convenience +* Market Analysis & Consulting +* Mediator Between You & Tenants +* Finding QUALITY Tenants +* Limiting Owner Liability - u/Silverbritches + +&#x200B; + +**Convenience** + +Your time costs you money. The average salary in the US is around $55,000 or about $27.50 per hour. If a painter will paint your walls for $15 per hour, it would follow that you are losing money to paint it yourself. The painter can do it cheaper & easier. Same with Property Managers. I know how to market a property to get maintenance & vacancies down to an absolute minimum, and I can probably do it in less time, for less money than you. + +Plus not everyone wants to work a part time job after their regular job. If the property can support a manager, it's perfectly acceptable to hire one so that you can catch that damn Tiger King show and be in the loop for once. + +**Market Analysis & Consulting** + +I look at rentals & homes in my area a minimum 12 times per business day (that's a really slow day), and often on weekends as well. How many of you can honestly say the same? know what colors are "in" right now. I know the flooring that gets scuffed up on moving day. I know that Street A is inflating Street B's rental amounts, so the ROI numbers the other Realtor gave were inflated. Good PMs are tapped into their local market, and can tell you, nearly at a glance what properties should be selling for or renting for. What we can't tell you on the spot we have the ability to look up & support our findings with data. Only the most iconic investors can match that kind of volume. + +**Mediating Tenant Issues** + +Do you have any idea how many times I've been cussed out by tenants? Even today I was called "a fucking monster" because I told a young 'lady' that I expected her to honor the contract she signed. Tenants, especially young tenants, don't realize how much things cost or how much skin is in the game. Therefore they can get really pissy when they don't understand why you sometimes need to tell them no. Owners are not that much better than tenants either. Owners often have blood, sweat, tears, & worst of all *memories* associated with their units. If all I do is prevent swear words from reaching the tenant or owners, that might be worth my 10% fee alone for how many contracts that has saved. + +**Finding Quality Tenants** + +Can't believe I forgot this in the first draft. Make sure your PM is pulling credit reports (I look for 600+), background checks, & doing rental screenings. If a tenant owed their past landlord $5,000 and you approve them, you are asking for the incoming robbery. Talk to your PM about their screening habits and make sure you find the right numbers for your area. + +&#x200B; + +**Limiting Owner Liability - Courtesy of** u/Silverbritches + +>Great pointers. One point that I’ll add to the “what are property managers good for?” is minimizing the owner’s liability. +> +>For instance, know what a Fair Housing claim might look like? Do you know if you have to accommodate an emotional support animal? What paperwork can you request to establish if the dog is an emotional support animal? Is an emotional support animal subject to a pet deposit? If a tenant is in a wheelchair and wants to install a ramp in your rental, who pays for it? A good PM handles each one of these weekly and can easily navigate you through potential pitfalls. +> +>Do you know how to not set yourself up for a bad suit? I can share a story from a potential (I passed) client where they self-managed, placed a tenant in the property, and then after the tenant was in the property found some information which made them believe the tenant had an undisclosed criminal history. The owner called the tenant’s employer, said “did you know whether John Doe has X on his background?” resulting in the employer suspending the employee. The owner then goes to the house and confronts the tenant, resulting in the police being called, with the argument culminating in the owner shouting something to the effect of “you lied to me, you are a dirty criminal”. The owner then was sued for slander, interfering with his tenants employment relationship, and a few other items and ended up with a $15k judgment against the owner for being too meddling. +> +>Do you know your state’s security deposit laws backwards and forwards? Some states have very tight requirements on move-in/move-out inspections, notice periods, tenant right to dispute conditions, enumeration of items to be fixed at move-out, and notice of funds being retained from security deposit. If you mess up, you may be barred from retaining some or all of the security deposit. Some states actually impose an extra penalty (mine is 3x, plus tenants attorney fees) if you don’t timely return a security deposit. If you really mess up a security deposit, you could put yourself in a position where you are barred from suing the tenant (and through him, his rental insurance) for literally burning the house down. + +&#x200B; + +# So How Do You Pick a Good Property Manager? + +* Check their optics +* Interview several PMs in the area +* Negotiate With Them +* Ask Questions/Keep Tabs on Them + +&#x200B; + +**Check their Optics**Is their website professional looking & modern? Do the pictures on their listings look good or are they early iphone blurry? Can you find their listings on Zillow & other websites? Drive by their properties, do they look well maintained (or at least similar condition to yours)? Ask for a tour of a property, is the showing agent professional, pleasant, well informed, a decent dresser? Check out their listings, do they have all the relevant info & an obvious way to contact the agency. Do they have signs everwhere? Are they known in the community? Etc. + +No one is perfect, but they should be scoring high in most categories. + +**Interview several PMs in the area** + +I feel like this should be self explanatory. Even ignoring some of the professionalism points from above. Some PMs are going to be a better fit for you & your portfolio than others. High End Duplexes & Single Family homes around the local college campus are my wheelhouse. If you want someone to manage low-income, I'm not your guy. I focus far too much on tenant relations & cosmetic improvements. Low Income properties needs a PM who can locate quality long-term tenants who won't tear up your property. That takes a 6th sense I don't have. I prefer a Maintenance Tech who is reliable, and is going to show up when he says he will. I don't mind paying extra for that, but maybe you don't mind waiting a week if it means you can save a few bucks. + +&#x200B; + +Just remember, you don't need to like them, they just need to take care of your investment. + +**Negotiate** + +This is more of a general tip, but ask them if they offer any special deals on their management fee. I drop my fee by a percentage point if their home is in one of my preferred areas. I'll drop the fee by another percentage point if they have a high maintenance limit ($1,000 instead of $500). If I don't have to fight with them every time we need to get a plumber out to the property, I'm willing to cut my fee a bit. + +I also provide a service where I'll find you a tenant, but you continue to manage your own property, that has become quite a popular service in the past couple of years. + +**Ask Questions** + +As I mentioned before, I generally prefer reliable maintenance techs rather than trying to get rock bottom prices. But I keep notes on all my owner's preferences. Owners that call in regularly to let me know what they want out of their portfolio, usually get it. Just because you have a PM, don't just "set it and forget it". Ask how they screen tenants. Review your monthly statement with the finance officer, Ask to see the tenant files, Drive by your property to check on it at least yearly. You definitely don't need to call daily, but do continue to check in just to make sure your investment is in good hands. + +[So Where Did This Guy Go Wrong?](https://www.reddit.com/r/realestateinvesting/comments/hgdyom/i_am_a_failed_real_estate_investor_heres_what_i/) + +1. He bought in an area he didn't know. +2. He didn't interview multiple Realtors. +3. Which I would say led to a really shitty property manager +4. Who didn't screen tenants properly +5. With stuff breaking that quickly he either 1) didn't get a good inspection, 2) had shitty tenants 3) bought poor materials. Probably a mix of the 3. +6. Bit off more than he could chew at one time. + +I'm sorry it went south for him, but everything I saw sounds easily avoided with a little extra know how. +In 2020 I was made redundant from an events job because of the pandemic / lockdowns. + +I got a new job 3 months later in the automotive industry. + +The number one question my colleagues would ask is “when are you upgrading your car?” which started to make me feel like I was being looked down on for having a cheap car parked outside the office, whilst everyone else had a brand new BMW / Merc / Range Rover. + +Despite my relatively low wage, I eventually folded and went into my nearest BMW dealership and ordered a brand new 2 series on finance (PCP). £300 monthly for four years and then an optional balloon payment of £13,000 at the end to own it. + +I knew deep down that it was the wrong decision, but my urge to “keep up with the joneses” was too strong. + +Delivery was promised 3 months later. Those months go by, and nothing. I chase the dealer. “Due to the chip shortage, we are looking at another 3 months.” Then you’d wait, and nothing, repeat ad nauseam. + +Eventually the reality of the cost of living crisis came to light. I emailed the dealer and requested a cancellation. I got my £100 deposit back, but more importantly I felt a weight was off my shoulders. + +I may not have a brand new car, but I have peace of mind now, and I think that’s worth way more. I’ve decided to put the money I would have spent on the car into a Vanguard index fund. Just thought I’d share this in case anyone else is in a similar situation. +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). +A buddy of mine has me reading his book, "Basic Economics" and I'm wondering if this guy is respected outside of libertarian circles. I haven't read many academic books on economics and wanted to know if his way of thinking is common or mainstream. Also, since he repeatedly says the content of this book is largely factual I'm curious if his work is generally accepted or disputed. +What if the employees in any company or workers in any factory had part ownership of the private enterprise ? There is no state controlled distribution like in a communist system, everything is privately owned by the people who work in the particular company. + +I started reading Das Kapital recently, and the Part 3 : "Production of absolute Surplus Value" struck me. What if the workers too had equal risk in the enterprise as the investor - in both profit and loss ? + +Workers owning the means of production would certainly help with the productivity, especially after an incentive to profit right ? Then why isn't a system like this in place ? +The city where my property is located reached out offering around 10k for about 3000sqft of my land to do some waste water work. I don’t mind selling, but wondering if there’s room for negotiation and/or getting a lawyer would be wise. They said they are offering market rate price and that another state agency has approved to make sure that it’s fair to the seller. Anyone with experience or advice around this? Thank you +To protect superstonk from becoming WSB all over again, how about we put a plan to prevent that from happening. (If that’s not already in place) + +If not now, maybe when MOASS takes off. +When in time of war the first thing you do is protect your borders + +- No new members will be able to join during MOASS +- mods cannot be replaced during MOASS +- whatever other actions to freeze the sub. + +Once we reach a new high it’ll be chaos here, just saying. + +Edit: wow I never imagined this will get so much traction, i guess I’m not the only one worried about this awesome sub. +After reading your comments, it seems that most of us agree on taking preemptive action to protect our sub integrity. IMO the attack on WSb contributed in slowing the squeeze and they can do it again, that’s their only weapon. + +Here’s some more detailed ideas we can take to clean up from shills, like many of you suggested: + +- many are saying that shills are already here, if that’s the case let’s all report them each time they post FUD so mods can block them or remove them. +- it is easier and faster to clean up shills accounts when no new ones are joining. We can either stop accepting new members or Allowing only trusted new members based on karma level, or by invite only. +- mods can take them by surprise and implement these rules now before they start an attack on the sub. If we all agree +- mods who open the gates during MOASS will be +Considered compromised and should be removed. Money can buy people, Vedgies have a lot of money to buy mods. +- of course, trusting your DD and your own judgment is key. But that’s exactly what shills are after when they attack. + +Edit 2: + +- Censorship is when you silence people who disagree with your opinion even when providing facts, that’s not what is meant here. we’re after bots, and hedge fund managers waging psychological warfare on apes, paying people to spread misinformation for their own financial gain. + +- yes Shills and sleeping cells are already in this sub, we don’t want new ones. + +- i love this sub and community so much and i hate to see it fall apart like wsb. it may need tweaking by the mods if they decided to do something concerning legality and such as some mentioned here. +For most of us, we don't add any value going there. Consider your own situation and decide for yourself if your visit would benefit GME, or if it would hurt it, or if it's a neutral visit. If your visit is not a positive one, then consider not going. + +If you do have to go, treat it the same way you would treat a job interview or a first visit to the parents of your love interest. Dress decently, behave appropriately. + +We all love making fun here and there's nothing wrong with that, but the public will not understand or accept that behavior, especially not in a formal setting. Don't give the media any ammonition to use against us. Not even on your way to the meeting or on your way out. + +For the common good of GME, please stay formal in public. +Welcome to the ETH Daily Discussion thread of /r/EthTrader. + +*** + +The thread guidelines are as follows: + +- All sub rules apply here. Please review our **[rules page](https://www.reddit.com/r/ethtrader/about/rules/)** to become familiar with them. The rules page is also linked in the announcement bar above. +- General discussion topics include, but are not limited to, events of the day, technical analysis, alternative Ethereum projects, or support issues. +- Breaking news or other important content should be submitted as a separate post. +- In-depth altcoin discussions should be referred to the /r/CryptoCurrency discussion thread. To view the thread, [follow this link](https://np.reddit.com/r/CryptoCurrency/search?q=%5BMonthly+General+Discussion%5D&restrict_sr=on&sort=new&t=all) and choose the latest entry on the search page. +- Pumping, venting, trolling, or any other similar behavior **should be reported** and redirected to the /r/CryptoMarkets trollbox thread. To visit this thread, [follow this link](https://np.reddit.com/r/CryptoMarkets/search?q=Trollbox+Thread&sort=new&restrict_sr=on&t=all) and choose the latest entry on the search page. + +*** + +* For newcomers who have basic questions about Ethereum, you can find answers by visiting /r/EthereumNoobies or our [Ethereum Education wiki page](https://www.reddit.com/r/ethtrader/wiki/education). + +* **[EXPERIMENTAL]** - To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Thank you in advance for your participation. Enjoy! + +I was doing fine for a few years. Then on my anniversary with my husband my car broke down, I was without it for a week so I had to rent a car for like $700. Cool okay that was fine, no big deal I can handle that. Then I got COVID. Out for two weeks with no pay. Then my cat got sick and I spent $1000. I have insurance for him and I was waiting for my reimbursement check to come in the mail but someone broke into our apartments mail room and wow, my mailbox was one of the sections that was broken into. Then I had to have surgery, and then complications arose from surgery and landed me into the emergency room. What was supposed to take two days to recover will now take two weeks and AGAIN I am out another paycheck. Late on rent. Can’t afford groceries. + +The line between poverty and lower middle class is so fucking thin. Idc what anyone says you are one emergency away from losing everything. Now I have to decide if I want to risk my health going into work or if I want to risk a roof over my head and be healthy. Fuck this. Fuck the fact that healthcare costs so much money. I hate America. + +EDIT: I am so upset. I’m totally veering off topic now but I know I am not the only person who is going through it right now hence why this sub exists. No one should have to live like this or choose between their health and their job. There shouldn’t be homeless people. No one should have to choose between food and rent. I just want everyone to be healthy and happy and have a roof over their heads, including me and my husband and our cat. I am so disappointed. + +My husband doesn’t work because he goes to school full time. I support that decision 10000% and he has officially stopped working since last semester. I could handle all of our bills and I was completely fine with it. I cut out all of my lavish expenses for him. No mani or pedis. Learned how to do it myself and even cut my own hair now. I don’t spend money going out to eat… like I did everything I was supposed to do and even still, somehow we ended up in this situation. Sorry for my rant. Sorry for anyone who is going through it, too. I am so so sorry. + +SECOND EDIT: I was not expecting this post to blow up like it did. I’m trying to respond to everyone but if I forget to reply, I’m sorry! Thank you to all of those who had such kind words and I appreciate you all sharing stories of your struggles. It does not make me feel good knowing other people have been in similar situations, but hey, it helps to know I am not alone. + +A lot of people have pointed out the “class” systems or statuses, is that what you call them? Anyways after this post I realized I am most definitely considered lower class. I appreciate everyone’s input on this as I had absolutely no idea, and it was very eye opening reading everyone’s responses regarding that. + +Some people have negative things to say about either me getting a better paying job or my husband getting a job and I would like to clarify a few things: First off, my husband had a job for 14 years working with the same company. They worked with his school schedule just fine until they switched management during holiday season, and the new manager is refusing to work with his school schedule. His school schedule is 8:30am and he gets home around 8:30pm, Monday through Friday and it’s a medical program that is pretty rigid and requires a lot of studying. He has been looking for a job but a lot of places now won’t hire him because of his school schedule. + +As for me, I make the most money I can make in my field for someone who had been in my field as long as I have which, to be honest isn’t too long, it’s about average. Yes I have applied to different places, but it’s either too far from where I live, or the pay doesn’t match my current take home pay, also I have a chronic illness and I NEED my health insurance and cannot afford a gap or wait 6 months after a probation period in order for it to kick in, and a lot of the other places I applied for do not offer insurance that compares to the one I currently have. + +I am not making excuses, and if you see it that way idk what to tell you. I made this post because I was frustrated and if anyone else was struggling with this, I want them to know they are not alone. + +Please remember that everyone’s situation is different and just because you worked full time while going to school or you just bought a house to get yourself out of debt, please just realize that there are challenges that others face that maybe you don’t have to. And, that’s awesome you’re in a good place, but please remember that not everyone is lucky like that right now. + +I appreciate all of you giving your advice and sharing your stories. Thank you all so much. + +THIRD EDIT: Some people really just want to be rude and it’s completely disheartening. No, I was not about to let my cat die. No, I didn’t mind paying the $700 to rent a car. It has nothing to do with me being lazy and not wanting to work, like honestly why are you here? This is subreddit is called POVERTY FINANCE for a reason. People don’t just end up in this situation because they feel like it. Unfortunate shit happens. I must reiterate that I was fine paying all of that stuff until I got COVID and then had surgery and had to be out of work for a month due to complications of surgery. Stop shaming people for stuff that is completely out of their hands. I didn’t know I was going to get COVID. I didn’t know I would have complications from surgery. Some of y’all are REACHING. + +But not all of y’all. A lot of everyone that has commented has been so sweet and I love every one of you and I truly hope that you all get in a better place financially. + +FOURTH EDIT: Some of y’all are something else. Finding reasons to shame me for my choices for taking my cat to the vet. Please take your time to read my post or don’t bother wasting your time commenting dumb crap saying pEtS aRe A lUxErY or you will be banned and blocked because I’m tired of answering dumb questions for people who aren’t taking the time to read. No shit, Sherlock. I understand pets are a lUxErY. I have pet insurance. I got reimbursed 90% so in actually I will only be paying $100. Did you miss the part where I said my mailbox was broken into? I’m sorry, but how is that my fault? How is that my fault that I got COVID and suffered complications from a surgery? Stop trying to find reasons to support your stupid “tidbits of advice” as it’s not advice, you’re just trying to be a jerk. + +I came her for a safe space to vent so if you cannot respect that then go do something valuable with your time, call your mom, burn some toast, but please, just go away. Thanks. + +FIFTH EDIT: I just want to thank everyone who has given me suggestions in order for me to get through this. A lot of people have suggested food banks, which I really didn’t know were an option. I found a local one and I will be going there probably sometime today and tomorrow to get basic groceries. + +I didn’t know short term disability was a thing, I called HR from my employer and it actually turns out that I qualify, I wasn’t really told how much I will be getting but I’m just grateful that I am getting some thing, it will definitely help keep my head above water. Thank you to all who suggested that. + +I will also be selling some plasma either sometime today or tomorrow, I don’t know how often I can do it but I will do it as often as I need to. + +And generally just thank you to everybody who have given me such supportive and kind words, I know this is just a temporary series of crappy events, my husband and I will get out of this I am 100% sure of that. I hope that anybody else who is experiencing the same thing will soon feel relief as well. +The Carlsberg AKA Carl Hagberg nod was cool and all, but we missed the juice of it, which was sitting right in front of us. + +# Here’s the original: + +https://preview.redd.it/x6wotu63lly61.jpg?width=1920&format=pjpg&auto=webp&s=74eecc1dd07860edc90b8fdc9af6a4cdb115bb97 + +# NOTICE ANYTHING UNUSUAL? HOW ABOUT WE ENHANCE? + +&#x200B; + +https://preview.redd.it/n5eoxyvilly61.jpg?width=1920&format=pjpg&auto=webp&s=2d5a0b4316792e5cc0233f9c154fd8687e512361 + +# THERE. That triangle, sitting right in front of your face, where have you seen one of those before? + +&#x200B; + +https://preview.redd.it/iz8rls8olly61.jpg?width=1920&format=pjpg&auto=webp&s=5fb0bed13fcd53a37686d3fc32c09125c2555ca8 + +# BOOM. TITS JACKED. + +u/WardenElite and all our crayon wizards keep talking about **triangles** and wedges. So I deep dived into it. + +This is the [Wikipedia entry](https://en.wikipedia.org/wiki/Triangle) for **triangles:** + + A triangle is a polygon with three edges and three vertices. It is one of the basic shapes in geometry. A triangle with vertices A, B, and C is denoted △ABC. + +# Are you FUCKING KIDDING ME?! + +# A B C?! + +# As in ABCDEFGHIJKLMNOPQRSTUVWXYZ?! + +# That’s the Alphabet! + +And what is the Alphabet’s stock ticker? + +# GOOG. + +# BOOM. + +[Google](https://finance.yahoo.com/quote/GOOG/), alright, but what about Google? Why is GameStop talking about Google? What breadcrumbs did they leave for us? So it got me thinking... + +The astronaut in the picture is clearly in space. So why the fuck does he have a beer he can’t drink? If he takes off his helmet then he's dead. BUT WHAT IF it wasn’t a beer, and instead it was a clue! It’s pointing up! What **didn’t** Google do today? It didn’t go up! So much red! + +https://preview.redd.it/r2h86libqly61.png?width=901&format=png&auto=webp&s=833206c0e6a994f2bef8ad127eeed6a4dd7e4da4 + +# Why didn't go up? + +Because [ad growth is slowing](https://www.reddit.com/r/Superstonk/ad%20growth%20is%20slowing). And everybody knows that the Asian markets are the largest source of advertisement revenue in the world. And who owns the Asian markets? ASIAN MONEY. + +# And what is ASIAN MONEY an anagram for? + +https://i.redd.it/7snwfqrrply61.gif + +That’s right. The GameStop social media team just gave us Citadel’s Achille’s Heel. They told us to stop, relax, and just trust the mayo and we’ll all be on the moon soon. + +Thank you for coming to my TEDxTalk. +So I was a BPM holder and today I get a notification of a market sensitive announcement from BPM. My heart rate picks up, my eyes are teary and I am fantasising about all the financial plans I had. Could today be the day I finally buy the ring and make my missus leave her boyfriend for me? Could it be the day that my sanguine portfolio slashes with a shade of green? + +I open my inbox and read the title of the announcement: "Boots on the ground in the Earaheedy". I think to myself, well that's a funny title. Let's read inside of it to see what that means. + +Here's what it means: + +It's the picture of the exploration manager pissing on a bush and they've made it 'Market sensitive' + +&#x200B; + +[Next market announcement would be about the CEO's bowel movement.](https://preview.redd.it/1rry0l7foy271.png?width=1008&format=png&auto=webp&s=aa3da026a6772234fa65116ec0933e6f3656639a) + +Next minute I get an email notification from Next Investors and it's about BPM. **They have confirmed that the exploration manager is indeed capable of urination.** + +So I sold on the spike of the pump and even if it 100x bags, I am glad that I got my money out of a dodgy company. I'll think about buying the ring another day... +In addition to this, apparently 90% of the family's wealth is lost by the third generation. I'm not quite sure if I 100% believe this, nor do I want to believe it. I would like to read the study that found out this. This is especially important to me because I am wanting to prepare my estate for my kids. But if this wealth loss it is true: + +* Why is majority of the wealth gone by the next generation? +* Is there any point in passing on our wealth to our kids? +* Is there any point to generational wealth transferring methods (like trusts, wills etc.)? +* For the 10-30% that maintain intergenerational wealth, what are those families doing to achieve this? +Literally zero experience with stocks, but the confidence in these front page posts is overwhelming. + +Bought them on Revolut in Ireland. Will buy 3 more before Xmas if this MOASS doesn't happen before then. No idea if there is anything else that I need to do. + +To the moon? + +Edit: Ook ook, retards. Diamond hands. + +Edit 2.0: When I say "convinced" I mean that the collection of information collated by this, and other subs, provided me with the ability to make a well informed financial decision. +Unpopular opinion, but I'm just boggled as to why people who spent over their heads in order to get a better house than they could really afford (instead of settling for a townhouse/duplex/apartment/cheaper house in a "worse" suburb etc) deserve such sympathy? + +Record low interest rates only ever have one way they can go, and to be honest everyone FOMOing into the housing market the last couple of years and overpaying ended up just jacking up the prices for all the rest of us anyway. + +Why is it so bad to have a period where we actually reward responsible savers, companies with actual profitable business models, and being fiscally prudent in general instead of encouraging plowing into the maximum possible debt? + +And no, I don't own a house or IP before anyone tries to go that route... + +I have the same amount of sympathy as I do for people who bought shares in ZIP at all-time-highs when pretty much every possibly signal that such assets were overvalued was flashing bright red +3 months ago, my card info was stolen and I saw a $3,500 deduct from PayPal. In short words, someone used my card to withdraw over $3000 to their PayPal account. I immediately canceled the card and called PayPal. + +Well, PayPal said they couldn’t do anything and told me to file a dispute with my financial institution, Wells Fargo. I called them, and filed a fraud dispute to which I received a mail today saying that the transaction was made by me?! This was clearly a mistake so I called them again, and they said that the decision is final and could not be changed nor appealed. I even went into their in-person branch and they couldn’t help me. + +Someone please! Help me! $3,500 is a large amount of money to me! I make $10.50 an hour and I can’t afford to lose this much! +I fully understand why people here recommend them as I did one myself after leaving school. I became a qualified gas, heating and electrical diagnostics engineer and by 21 I was earning 40k. I had full job security and I was always in demand. + +But my god was it soul destroying work! Sure the money was great and I could afford anything I wanted but it gave me no feeling of purpose in my life at all. I was just another cog in the wheel of society. I therefore quit in my late 20's to go to university to study to be a teacher and earn half the salary of an engineer. Obviously apprenticeships can work out brilliantly for some people. I'm just highlighting the other side of the coin. + +What I really noticed at university was the difference between young people who went straight into university and those who took a year or 2 out before. Those who waited showed so much more maturity and a sense of direction because they had made a more informed choice about their course and what they wanted to do after it. Many university degrees are not 'useless' as so many describe on here, it's just that they are often chosen by young people who don't have the life experience to make such a huge decision. + +There's a famous Sir Ken Robinson quote I often tell students.. "Not everyone needs to go to university and not everyone needs to go now". I think that second part gets overlooked. + +And on a separate note, the lifestyle of being at university can be incredible. The new people you meet, the views you develop away from your home town, the different clubs, sports and events you can get involved with. An apprenticeship doesn't come close to that life experience. + + +Edit: the 'cog in a wheel' comment was made regarding the feeling that I was doing something just for money and security, not the actual work itself. +It appears there could be a possibility of boycott or workers strike gaining traction with nationwide employee support. Mc Donald's stock price has hit a new high on its 52 week average as of Nov 5th. I expect the combination of rising food and fuel prices as well as employee resistance to take its toll on McDonald's in the short term. However i expect McDonald's to begin to utilize more automation technologies in the near future to reduce the cost of having employees. If they employ these technologies as expected I would estimate the stock price to be drastically affected. If the workers strike gains traction quicker than expected I expect McDonald's to implement automation technologies during that time to capitalize on the opportunity to replace employees and decrease there overall liability. +11/26 230 put + +3/18 250 call + "Anybody that tells you, ‘You ought to have your money in growth stocks or **value** stocks,’ really does not understand investing." Warren Buffett + + “You read a lot in the press about the growth style of investing or the **value style of investing**. Basically that strikes me as nonsense, but it’s not going to be stomped out. People continue to use those terms in a way that makes very little sense to us.” Warren Buffett + + "I agree that the \[*distinctions between* *growth* and **value** are\] terrible. The idea that a man buying a so-called growth stock is not going to think about **value** is insane. All investing is **value investing** by its very nature." Charlie Munger + + "We don’t discern companies between *growth* and **value**. Our definition of **value investing** is to *figure out what a business is worth and pay a lot less*. It’s *not low-price to book or low-price to sales*." Joel Greenblatt + +I have read a lot of people about this absurd debate and it is honestly a waste of time. Value investing is an adaptable and constantly evolving concept, not a rigid doctrine that remains intact over time. + +Value investing consists of understanding stocks as part of businesses with an underlying value, having a long-term vision and using a margin of safety to minimize risk, but all this is subject to multiple interpretations and adapts to the personality of the investor. Buffett is different from Graham, Lynch is different from Buffett, David Tepper is different from Lynch, and Bill Ackman is different from Tepper, but they all have value investing at the center of their common philosophy. + +What I am trying to say is that for a company to be technological, have high growth, a large amount of intangible assets and a high multiple, it does not mean that it is not a good option in the value parameters, and that a company that trades at few Multiples of its book value do not mean that it is attractive or cheap. +So let me get this straight… broker dealers removing the buy button and eliminating all trust in the market caused a market rally. The coronavirus outbreak caused a market rally. Global lockdowns caused a market rally. Threat of a nuclear war in Ukraine caused a market rally. High inflation caused a market rally. Fear of a global recession caused a market rally. The crypto crash caused a market rally. Increased rate hikes caused a market rally. Numerous layoffs caused a market rally. Increased defaults on credit card payments and mortgages caused a market rally. Hedge fund closures caused a market rally. But millions of people worldwide buying up as many shares as possible of a single company is causing the share price to go down? Come on, even my 4 year old can see through the bullshit. +2 weeks ago, I sold a Tesla call credit spread. It rocketed after hours and I was in the money. Fortunately, TOS closed the position for me and limit my loss. + + +I posted my experience here and people were advising me to always close positions even if it was only 50% profit. + + +This week, I sold fb and Amazon put credit spread. On Thursday, I heeded the advice and closed both at about 50% profit. Both stocks tanked on Friday and I would be in the money if I had not closed them early. + + +I have added this step of closing early to my “process map” so I will trade without any emotions. Thanks to everyone who advised me and helped me dodge a bullet. Deeply grateful. +[https://www.washingtonpost.com/business/2021/08/27/retirement-fund-millionaire/](https://www.washingtonpost.com/business/2021/08/27/retirement-fund-millionaire/) + +People can learn a lot from this object lesson of truly jaw dropping results available to anyone through long term compounding by - 1) taking advantage of employer offered IRAs 2) saving 3) investing for the long term + +Agree with the note below from Ted Weschler that it was inappropriate to release these figures. Note from Ted Weschler about the release + +[https://www.documentcloud.org/documents/20971124-ted-weschler-statement](https://www.documentcloud.org/documents/20971124-ted-weschler-statement) +So I started off using Wealthsimple and the app is absolutely amazing. Looks like something that was designed by Apple, it just works so nicely and everything is laid out beautifully. + +Then I decided to try out Questrade, since you can actually hold US funds there. + +My god, their app is atrocious. If you leave the page for even a second (to you know, check the real time price of a stock), it gets stuck in an endless loop of loading, and forces you to sign out and sign in again. + +Everything takes ages to load, and the layout is just plain ugly and un-intuitive. + +I prefer Wealthsimple's app so much more, that I am seriously considering using them even for US funds, even though the fees are going to be higher than Questrade. + +I'm actually shocked at how bad Questrade's layout is, even their web layout (which is better than their app at least) is quite slow and has a clunky/un-intuitive appearance. + +Am I alone here? I know that a "pretty" interface shouldn't mean much when we're talking about money here but to me it really makes the difference. Especially when it comes to responsiveness, which actually could affect your trades. +**\*\*\*\*\*\*\*\*\*\* I am not a financial advisor, this is not financial advice \*\*\*\*\*\*\*\*\*\*** + +Edit: Credit for the correlation tables to u/phalanxhydra + +Edit 2: I am retarded. It's u/Ivorypetal. + +# Introduction + +Apes, because of the sheer amount of information in this post and because I wanted to get it to you at the beginning of this week because of earnings and the meeting, this post will not have the usual funny intro and memes. + +Usually, my DDs are done completely by me with maybe some inspiration from a few apes or a section/link from an ape or two. This one is not that. This DD is an orgy. Apes, I have gathered an army. A fucking army of quant apes. They have been gracious enough to team up and answer the questions that I posed in my previous post and..... I am astonished at what they did. Seriously, I didn't expect this in my wildest dreams. Quant apes, I am eternally grateful for what you've done and I know that this sub is too. Again, this just shows how many extremely smart apes we have in this fight. This is going to be by far my most data-driven DD of all time. + +Many of you have probably seen the spoilers that I gave in my request for data that this DD would be about using correlations, models, and data to get to an extremely high level of certainty that shorts have indeed not covered by analyzing GME as compared to the other meme stocks and some other indicators as well. This was inspired by the pretty obvious fact that they all have traded in very similar patterns since around December. I also noticed that they all seemed to have some sort of FTD cycle component to them as well. I really drew the line when all of these stocks started this upward momentum in the past week - it was just too much of a coincidence for there not to be a relationship. A short squeeze is rare. Stocks following the same trading pattern is weird. A stock squeezing two times in less than a year is weird. A stock trading at over 4x it's book value consistently for months is weird. But 6 stocks doing all of those things simultaneously is..... ASININE. Some might call it improbable, but I think we all know what it is. This DD will use data, a shit ton of it, to give us the closest proof next to actually seeing HFs positions that they have indeed not covered..... ENJOY + +**Roadmap** + +In this DD, I will discuss why the meme stock craze is not a just a bunch of retail traders pumping up stocks. Instead, it is the product of the greatest shorting fail in the market of all time that was made possible by easy money policies and apes' uncanny ability to buy and hold. Next, I will discuss the statistical significance and origin of the FTD cycle. Finally, I will give you a random dump of DD at the end of my thoughts. + +# Part 1: A data driven approach to the meme stock craze + +**A visualization of what you already knew** + +As many of you know from some of my previous posts, my thesis is that the “meme stocks” are all related. This was based on observations that the charts looked similar from December to now in terms of price action and volume. The quant apes did an excellent job of visualizing this. Below is a visualization of the meme stocks compared to cryptos and boomer stocks for reference. The parameters are volatility and volume. + +https://preview.redd.it/sfs0rlgprt371.png?width=1626&format=png&auto=webp&s=f28599498018462de65d04a0663206ff4d64a623 + +https://preview.redd.it/ckanpxbqrt371.png?width=1652&format=png&auto=webp&s=553e7ceae6eddd1a387febf88e0e1a3ffe03e117 + +[\(Credit for above three charts to u\/Ivorypetal\) ](https://preview.redd.it/6wb6ze0rrt371.png?width=1624&format=png&auto=webp&s=46a16bda7b06735d23ed2b6cb9def15472d53703) + +**A visualization of what you already assumed** + +This is a visualization of what we already know but haven't been able prove: the stocks are related. Looks like there’s a relation, right? How can we be sure? If you took a college or high school statistics course, you probably know that there are certain tests you can run to determine if inputs are correlated, the degree of the correlation, the certainty, and the statistical significance. Below, the quant apes used a statistical test (I won’t explain it because if you aren’t familiar with statistics it’ll take too long to explain, but this is not a guess, it uses an equation to determine the level of correlation, so it is extremely accurate) to determine the correlation of GME to other meme stocks and the VIX. I put GME in red because it’s all we care about right now. The top is a comparison of these stocks entire data (i.e. all time), while the bottom compares them in the last year: + +https://preview.redd.it/92ks0y4trt371.png?width=860&format=png&auto=webp&s=03932694664e27f9dbfde8042d03f3be181a2559 + +[\(Credit to u\/phalanxhydra\)](https://preview.redd.it/hbahq3rtrt371.png?width=862&format=png&auto=webp&s=328a0b47ad63faae068e12c847dacdc1df2ef9bb) + +As you can see, the difference between all time and the last year is striking. The above decimals are called correlation coefficients. They go up to 1 (which means they are identically correlated). Anything above 0.7 is considered a strong correlation. As you can see all of them except for NAKD and NOK have a strong correlation to GME. What really struck me was the VIX. Because the market usually goes down when the VIX goes up, the fact that GME and the VIX have such a strong correlation in the past year is extremely important for our thesis that HFs are actively acting against it. + +**OTC Data** + +The chart below takes the OTC data from FINRA and plots it for each of the meme stocks. Notice how they all seem to follow a pattern of spiking every few weeks (FTD cycle) except for the blue one. The blue one is not a meme stock, it's Apple. I used Apple as a reference security so you can contrast how weird this is. Sadly, we don't have FINRA data before 2019, so it's difficult to analyze this in terms of when it started, but you can definitely see a related pattern of abnormality: + +[\(Credit to all of the quant apes who made this customizable program that allowed me to do this\)](https://preview.redd.it/psbp9arwrt371.png?width=2766&format=png&auto=webp&s=1286b2fb12123ba6bf01eaf408917a7f47915530) + +&#x200B; + +**How common are squeezes?** + +Squeezes are rare. Extremely rare. Whether you think the January price run up was a short squeeze, a gamma squeeze, or just a big price increase does not matter because, in asking the quant apes to find the exact number of short squeezes that have occurred in the stock market, I gave them VERY broad parameters. The parameters I gave them were: any stock that has doubled in price within a week. Because of this, this is undoubtedly a gross overestimate of the number of short squeezes in the history of the market (i.e. some little known penny stock getting FDA approval and going 4x overnight). The numbers that they found show us just how rare a short squeeze is, and remember, even this is an overestimate, so they’re probably even rarer. The quant apes used the major exchanges NYSE, NASDAQ, and AMEX. Here are the results: + +[\(Credit to u\/jyzaya\) ](https://preview.redd.it/o1rcuupyrt371.png?width=2032&format=png&auto=webp&s=a16b8200dde9417a18b25c4eed0e353557879555) + +If you can't understand that data, here's the point: they are rare, even with parameters that purposefully overestimate it. They are so rare that you could call them an anomaly because that's what they are. Remember that’s a purposeful overestimate that allows small stocks getting good news, IPOs, etc. to be considered. So yes, short squeezes are rare. Multiple squeezes following the same pattern and all squeezing at the exact same time? Some might call it improbable, but we all know what we call it. + +**My take** + +So, you’ve seen the data. These stocks are correlated. Does a correlation mean that there is some orchestration going on or that something is forcing them to move in concert? No. It means that they typically move in the same direction, reason unknown. A statistical test can’t tell us the reason for the correlation, it can just tell us the correlation. I think I know the reason. + +What I think many people, especially the media, take for granted is just how weird January was. As you now know from above, short squeezes are rare. Stocks correlating is weird. Stocks correlating for months is weird. Stocks squeezing at the same time is weird. Stocks doing all of those things at the same time is unheard of. The weird thing about January is that brokers, all of them, simultaneously restricted the buying of all of these stocks. Because liquidity works both ways (buy and sell), if they really had liquidity issues, they would’ve stopped buying and selling. Also, does it make any sense that every single broker would have liquidity issues at the exact same time during the times of the lowest interest rates ever and an easing of banking restrictions? No. None of that makes sense. My thesis is that all of these stocks are related and the data backs that up. I believe that the brokerages saw that these stocks posed a SYSTEMIC risk because of how exposed major market makers and HFs were on the short side. Why else would they all simultaneously ban only buying? + +To add even further to that, many brokerages have banned the shorting of these stocks (months after the squeeze). Even more is all of the shill activity of people messaging us saying “I’ll pay you to write something bad about GME.” Moreover, the brokerages must have seen that retail, and now the rest of the market, was piling on buying orders and that eventually, some of the most important institutions could go bankrupt and cause an economic crisis. So what did they do? They restricted all buying. Even if every single ape hodled, the price would still be able to go down significantly due to shorting and institutional selling. So yes, they forced it to go down. Now, what was that systemic risk I was talking about? What exactly did the HFs do? As most of you know, I was one of the apes that started the talk of FTD cycles and found many of the rules behind it. The FTD cycle has been the only thing that we’ve been able to consistently predict (well that and the media being retarded but I digress). IMO, the FTD cycle is our clue into what the HFs did to cause a systemic problem. The FTD cycle has been increasing exponentially, which leads me to believe that the systemic risk has only gotten worse, and I think I’ve discovered it’s origins… + +# PART 2: The statistical significance and origins of the FTD cycle + +Now that I’ve left you with that cliff hanger and probably a half chub, it’s time to take an extremely in-depth dive into the FTD cycle. First, I will be demonstrating the statistical significance of the FTD cycle, so that we know it’s not just a fluke. Next, I will discuss the origins of the FTD cycle. Finally, I will discuss what I think it all means. + +First, let's start with a brief summary and update on the FTD cycle. The FTD cycle is the idea that because of SEC regulations requiring market makers to cover FTDs within 35 calendar days, there is a predictable increase in price and volume every 21ish trading days or 35 calendar days. So far, it has continued to repeat itself. The idea is that shorts are in so deep that they are doing the bare minimum to cover and continue to dig themselves in a deeper hole by kicking the can down the road. It is currently increasing exponentially, which indicates that it is getting more and more expensive for shorts to stay in the game. + +[Orange line represents FTD cycle increases each month. Yellow lines are FTD cycles. Disregard the red lines, those were my trend lines before we broke out](https://preview.redd.it/pgikvf01st371.png?width=1412&format=png&auto=webp&s=8eecc3c7176aa22a77b37c302a9d57bc197f7477) + +**SI by the charts** + +Below is a chart that the quant apes gathered from Ortex showing the SI of the meme stocks over time. Many of you will say that this is inaccurate because the real SI is hidden. While we have many instances of that being true, this is the best concrete data that we can gather (much better than Fintel and FINRA), so it’s what we must use to avoid speculation. So, yes these numbers are probably an understatement but that’s a good thing because we do not want to speculate. If we can find significant results on incomplete data, our thesis is strengthened: + +[\(Credit to u\/orangecatmasterrace\)](https://preview.redd.it/88i9r528st371.png?width=1750&format=png&auto=webp&s=89c540227a2e8d7f969d110a7d0ef60042ec423b) + +I noticed some very interesting things from this chart. First, I noticed that the SI of most of the meme stocks markedly increased in mid 2019. GME had an exceptional increase (I think because of their issuance of bonds, shorts saw that as a debt death sentence). There was also a slight, but noticeable, rise in SI of most of these in mid 2016 as well. Hmmmmmm. My original thesis was that they were all heavily shorted after the covid crash because HFs predicted a bad economy and the destruction of brick and mortars, so they used the low interest rate and low liquidity environment to their advantage. That is still probably true as I bet they did it with naked shorts, but this chart made me think even more. What happened before Covid that could’ve led to these SI increases. + +**Friend of the shorts: The US economy** + +The first thing I did was get a chart of short volume data in the stock market over time to get the big picture: + +https://preview.redd.it/lhxdy8t9st371.png?width=1374&format=png&auto=webp&s=f8f711ef8dab8cc36f77ee6d55fc852ed693393b + +As you can see SI has increased markedly in 2015 and 2019. So that got me thinking, there must be some kind of law, some correlation with FED policy, or some kind of macroeconomic happening that led to this. So next, I looked at the interest rates for interbank lending: + +https://preview.redd.it/z3677egbst371.png?width=1234&format=png&auto=webp&s=ac740b8236851f40bb01e0eb7fce99a80b550396 + +This is not mortgage interest rate, this is federal funds interest rate, which is essentially the interbank interest rate for excess lending. As you can see it’s been insanely low since the 1990’s, but particularly low as of recently. Next, I looked at the balance sheet of the FED. This essentially shows the Fed's buying of assets over time. + +https://preview.redd.it/rd1ye3ddst371.png?width=1630&format=png&auto=webp&s=f284394415c8cd127d750bbcd45f55ef676d0fd0 + +https://preview.redd.it/ygpfqudest371.png?width=1554&format=png&auto=webp&s=5cf6fa82247426f7a83db8d202be1f85b3c5f8be + +The above graph is especially striking. It shows the FED's balance sheet is increasing proportionately with the SP500. The FED's Quantitative easing policies have been extremely aggressive since 2008. QE is where the FED purposefully stimulates the economy by buying assets like bonds. This was necessary after 2008 and the FED kept it going for a while then started tightening (QT). However, and this chart doesn't show it, the FED had to parabolically increase its QE policies duirng covid. You know what else parabolically increased? Yep, the stock market. + +**The statistical significance of the FTD cycle** + +https://preview.redd.it/79rg4j9gst371.png?width=1284&format=png&auto=webp&s=33e2deedfeb5f2caa5c1914e8caa828071214862 + +https://preview.redd.it/3qzw1f0hst371.png?width=1274&format=png&auto=webp&s=5b591b0a0bfe04debd67f0561a971ac797651e78 + +[\(User wished to remain anonymous for this\)](https://preview.redd.it/y9iekcuist371.png?width=1284&format=png&auto=webp&s=39b9bc492e20a346bdeef2ab210cdf6d9196303a) + +The above charts show GME's FTD cycle increases after a certain number of days. I put TSLA and MSFT in there so that you could see how abnormal GME is. Even compared to a volatile stock like TSLA, GME has a way more recognizable pattern, which gives us further statistical evidence of the FTD cycle. Also, note that there were many other users in different posts on this sub who found the FTD cycle statistically significant, this is another view to add to the body of work. Below shows the short interest of the meme stocks in relation to each other, so you can see when they started and how they've increased together: + +[\(credit to u\/orangecatmasterrace\) ](https://preview.redd.it/765vp0kqst371.png?width=510&format=png&auto=webp&s=03d70c989c96d63c0d3321acdd8e081b9ed903c8) + +Keep the above chart in mind while reading below. + +**The takeaway:** + +We are in an EXTREMELY easy lending environment. Rates are dirt cheap. The FED is buying up assets, which is pushing up the prices of literally all assets. The market is flush with liquid assets, so much so that the FED was trying to slow it down. This makes the perfect storm for a short-friendly environment. We were also in the longest and biggest bull market run of all time in 2010's, so it would make sense for it to come to an end soon - that's where shorts really make a killing. + +What I think happened is that we saw the longest bull market of all time in the 2010 decade. HFs realized that this bull market was propped up on the FED’s massive balance sheet and that there would need to be more economic tightening soon and/or a correction. Anticipating an end to the bull market, they initiated a giant short campaign in 2019 with the aforementioned meme stocks and probably tons of others (the meme stocks are just the ones that retail investors took interest in). Once Covid hit, their campaign was successful, but they wanted more. They wanted to hit the bankruptcy jackpot, so they turned it up with the naked shorts, which is why the data doesn’t show that, in an attempt to put brick and mortars out of business. + +Instead, the FED accelerated its easy money policies and the economy had one of the quickest recoveries of all time. This is why I think we started seeing the FTD cycle in late 2020 - it was a result of their failed mega short during covid. This alone would’ve made them lose money but they've run into roadblocks like this before so it's not what caused the squeeze and mania. What caused that was the fact that apes literally buy and hold but never sell. This essentially created a giant wall that wouldn't allow the HFs to short down out of their positions and got them into this mess. Then some retail investors caught wind of it and bought into some of their most shorted stocks, which is why we saw what happened in January. They are still in that hole because the brokers’ pausing of buying didn’t solve the problem, it just delayed it. That’s why we see the FTD cycle exponentially increasing. This economic environment has been brewing for this for a long time, and it would have continued if not for reddit (mainly DFV). I mean how crazy is it that GME’s SI was over 100% for so long and no one noticed? + +I am convinced that this would not have been able to continue to happen if apes didn't hold. That's why this was all able to happen. It's because there has never been a phenomena in the market where a significant portion of investors in a stock will hold it no matter what the market conditions are. So when shorts started aggressively shorting and things turned south because of the FED's recovery policies, retail's refusal to sell just added insult to injury and is why we are in this position now. + +(Please note that the above data I only actually displayed a fraction of the quant apes' data. They gave me an amazing amount. I used some of it to inform my/guide myself and displayed charts that went well with my DD, so believe their work is even more in-depth than this post portrays) + +# Part 3: DD Drop + +Alright apes, the above was a mouthful, but wow aren’t our quant apes amazing! Now that you’ve read all of that, I am going to do another one of my DD drops on some random theories, updates, etc. + +Everyone remember what happened with Archegos? That was a real funny one wasn’t it? Bill Hwang plead guilty to insider trading, so he had to operate a family office. The man lost $20 billion in the span of 2 days, now that’s a level of yolo retardation we should all strive for. One of the companies that Hwang invested in was Discovery, here’s it’s chart: + +https://preview.redd.it/4qnz2xesst371.png?width=2206&format=png&auto=webp&s=f4c7320665b27f95a8b9ffe05328d7e93bb26b3a + +See that purple line? I bet you probably think that’s VWAP or a SMA line, right? NOPE. That’s VIAC (Viacom CBS), one of the other companies he bet big on. Hwang used an instrument called total return swaps, which basically allow you to “swap” the delta of one baseline security for another. Here’s an example: a total return swap of Apple and SPY. You get the returns of APPL. If AAPL outperforms SPY, you make money, but if not, you owe them money. That was all a huge oversimplification but essentially, it allows you to have exposure to a company without owning it (derivative). That above chart was just a 1 year chart, but essentially, Hwang applied so much leverage to these companies through these swaps that they were trading at double their fair market price. + +This hypothesis is backed by no data whatsoever and is really just a thought experiment. Based on the fact that meme stocks correlate (as shown above), what if HFs are using some type of swap on them? It would make sense given the extremely low interest rates. It would make even more sense given the negative beta of GME (i.e. SPY would be the reference security). Perhaps they use total return swaps or another instrument to cover or to add more pressure? Idk. Just a thought. + +Another hypothesis: could this all be the work of an algo? I mean, there's no more observing the similarities, we now know they are statistically significant and related. IMO, it's impossible for human traders to create this pattern – it’s just too precise and based on too much volume, so the options are either they shorted all of these at the exact same time and are being forced to cover at the exact same time (FTD cycle), an algo is doing that for them, or some algo is orchestrating all of this. I find that unlikely because of the difficulty and obvious market manipulation charge they'd get but we have to consider it! Again, just another thought, not much else to it. + +**The Midday Spikes: An Answer** + +Apes, we might have an answer to the midday volume spike phenomena. If you don’t know what I’m talking about, see my other post. My hypothesis was that these midday spikes were HFs covering to satisfy some kind of requirement or to avoid some kind of FTD cycle. I had no evidence for the cause, I just had tons of observations for the occurrence. Let tell you though, if there’s one thing I know, it’s that it’s not retail. Whatever is behind the midday spikes is a single entity. It is impossible for a bunch of unorganized people to consistently buy a stock in the same minute interval in mass. That is a single entity doing that and I think whoever it is is our enemy. A beautiful ape by the name of u/KFC_just turned me on to the idea that it may be to comply with net negative rules. I scoured the interwebs and found this on NASDAQ: + +https://preview.redd.it/qvze3s1vst371.png?width=1954&format=png&auto=webp&s=296a2ead951725c90722f157d402a86b34854748 + +Notice that it also talks about clearing corporation requirements, which adds another elements into the mix. Though I can’t find any information about exact requirements in terms of liquidity/numbers, I think that this is pretty definitive proof of the reasons for the midday spikes. Essentially, it seems as though these midday spikes are some fund covering in order to "maintain net capital sufficient to comply with the requirements of the Clearing Corporation." Also, the final sentence explains why they need to cover (i.e. to remain positive). + +**Earnings and 6/9** + +A lot of you are probably extremely excited for earnings and the annual meeting on 6/9. I am too. However, I wanted to make this to tell you to not get your hopes up too much and to not be surprised if it doesn’t go our way. What I will say is, I am confident that we will see a dildo candle one way or another. For earnings, remember that last quarter the earnings were not even bad and the stock had a GIANT red dildo candle. Unless earnings are absolutely spectacular, I could see HFs using it as a way to put negative momentum on the stock (remember, it's all about the narrative). Now, earnings could be spectacular. GME has gotten so much more attention this past quarter and I know that apes have been feverishly shopping there, so we do have hope. + +As far as the annual meeting I have absolutely no clue what to expect. However, like earnings, I expect another dildo one way or another. If you remember last earnings, we all thought that the guidance/conference call is what would put us over the edge. Instead, it was barebones minimum, and we succumbed to the HFs earnings downward momentum. I expect this to be different. An annual meeting is different from an earnings call and definitely warrants more speaking, more guidance, and more detail. If GME was going to announce some blockbuster move, it would be during this because, assuming they know about the massive short interest, that gives them plausible deniability against market manipulation charges. Some important topics we could hear about are: Ryan Cohen speaking in general, a new CEO, crypto/NFT, acquisitions, digital transformation / direction, and, most importantly, the voting results. Is there a guarantee that these things will be discussed? No. Do I expect many of them to be discussed? Yes. Similar to earnings, we could get great news and see a giant red dildo candle. Remember, expect anything. If we get more shorting on positive news, it just keeps proving we are right. + +As for my thoughts on when we moon, I personally don’t think we’ll moon here almost no matter what. I think that it will be overall good and that we will see a very significant jump, but instead of that being the MOASS, I think it will be what starts the MOASS. The only thing we’ve been able to predict has been FTD cycles so far. The MOASS will come when a HF gets margin called and we just can’t predict the exact time for that. So, I believe that if we see a big jump next week, the MOASS should be coming in the near future but will nevertheless be unpredictable. + +**Clarification of my statements about retail buying** + +In one of my past posts, I said something along the lines of “retail is tapped out.” Thankfully, another user made a post disagreeing with that and it got tons of replies of apes saying things like “I have tripled my position in the past month.” If you haven’t seen that post, I’d look at it, the responses are amazing. With that in mind, I wanted to clarify what I said about that. What I meant in that post is that retail is not responsible for the mass, synchronized buying that we’ve seen in the past week or so, I think that is HFs being forced to cover. Retail, instead, has been holding like champs and steadily buying. IMO it’s pretty hard to believe that retail just randomly decided to buy every stock that squeezed in January at the same time. Instead, I think it’s something much bigger but apes’ ability to hold is why it’s able to happen. However, I do think that once we start squeezing again, it will bring in a new wave of retail that formerly wasn’t in just like January, so we still do have gas in the tank (or ions in the battery if you drive electric). + +# Big Thanks to the Quant Apes + +I can't tell you how seriously amazing the quant apes are. They deserve all of the credit in the entire world and they are one of the most valuable parts of this sub. + +Here is a list of some of the quants who helped with this post (this is not exhaustive as some wanted to remain anonymous) + +u/orangecatmasterrace + +u/spambot9k + +u/rubberbootsinmotion + +u/Ivorypetal + +u/creativelord + +u/collegeneral + +u/xpurplexamyx + +u/jyzaya + +u/epk-lys + +u/head4headsup + +u/squirrel_of_fortune (he made a great DD as well and I would encourage you to check that out to see another perspective with a very interesting, advanced method) + +u/sudoshu (Special thanks to him as he was the organizer of the group. If you are a quant ape, he said to message him if you are interested in being in the group, but serious inquiries only). + +**Mods:** many of these users do not have the karma requirements to comment on posts. If you could somehow waive that requirement for the listed users, I think it would really benefit the sub because the amount of knowledge that these apes possess is amazing. They put so much time into this and gathered so much data (I literally couldn't even show close to all of it) and I believe that they will be integral to the continued success of this sub. + +Finally, the quant apes have created a website: [https://www.superstonkquant.org/](https://www.superstonkquant.org/) + +They are still currently working on the mechanics of it but I encourage you to monitor it in the future because I have witnessed first hand what they are capable of and it is nothing short of amazing. + +**Conclusion** + +Alright apes, that was very long but I appreciate you for reading. This sub keeps doing a great job of pumping out DD and I think we will be rewarded for it in the very near future. I am going to take a break from making DDs because it is really time consuming and can be extremely tiring, but I will still be looking at this sub, commenting, and possibly making short posts. As always, + +*Stay strong, apes.* + +**\*\*\*\*\*\*\*\*\*\* I am not a financial advisor, this is not financial advice \*\*\*\*\*\*\*\*\*\*** +Hey friends. I graduated nursing school right when COVID started last year. I went straight to work in a COVID ICU, and I’ve worked almost every day for 10 months (seriously I only take 1-2 days off each month). This ridiculous amount of overtime has helped me save up a ton. I’ve been very frugal- I live in an old apartment and drive an old beater truck. My goal has been to save up $120,000 to buy a house with cash, but I don’t think I’ll make that goal for another 10 months. I’ve been broke my whole life. What should I do with all of this money? +Graham wants you to realize something basic but incredibly pro- found: When you buy a stock, you become an owner of the company. Its managers, all the way up to the CEO, work for you. Its board of directors must answer to you. Its cash belongs to you. Its businesses are your property. If you don’t like how your company is being man- aged, you have the right to demand that the managers be fired, the directors be changed, or the property be sold. “Stockholders,” declares Graham, “should wake up.” + +- Commentary on chapter 19, p. 498 +Normally I would say no, as I always try to get the best deal possible on my properties, However, I feel a little uneasy on this deal. +I met a guy at a social event and he told me he had a rental he has had for years and is thinking of selling. +This guy is a little older in his 60s, and told me he was happy because his property appreciated to $170k. I was surprised because in this market I have not seen anything under $275k for a while. I asked him where he got this number, and said he got it from his county tax assessment statement they send each year. +As you know, this is NOT what the property is worth, just what the county uses to base taxes off of. I said I would buy it for $170k from him and he agreed. I am now a week from closing and after my due diligence, The property is in great condition and would probably sell for $270k-$300k. So he would essentially be giving me $100k+ unknowingly. I didn’t trick him into a price, he brought up the price and I said I would buy it. +I am thrilled that he is selling it to me but I cant help but feel like I am screwing him over. He is blissfully unaware of the value of his property. Would you consider this an unethical purchase? +[source](https://accelerateshares.com/blog/whatever-you-do-dont-invest-based-on-dividend-yield/) + +The classic thinking that many amateur investors, and even some professionals, have is that if you buy a stock with a high dividend yield, you should do well in the markets. Certainly, there is no shortage of dividend-investing hype. + +Dividends and share buybacks, also known as “shareholder yield” when combined, are ways to return cash to shareholders. + +Throughout most of capital markets history, share buybacks were actually illegal. It wasn’t until 1982, when the SEC passed a new rule allowing for buybacks, did the composition of shareholder yield begin to change. + + +In the S&P 500 index, buybacks have become so pervasive that the buyback yield is nearly 4%, or almost double the index’s dividend yield. Buybacks now account for two-thirds of the S&P 500’s shareholder yield. + +The S&P 500 buyback yield has exceeded its dividend yield almost every year since 2005. + + +Many set their dividend yields artificially high, typically north of a 10% yield, when the underlying portfolio only generates sub-5% dividend yields, in order to attract less sophisticated investors in search of yield. This dividend is mostly return of capital – effectively paying investors their money back as the fund slowly liquidates to fund the payments. + +When a company pays out more money than it produces in free cash flow, it can fund this by partially self-liquidating to pay an artificially high dividend, at least temporarily. + +Out of the investable universe of Canadian stocks (ie. those trading above $2.00), 62% of stocks pay a dividend. However, 45% of Canadian stocks generated negative free cash flow over the past year. 19% of Canadian stocks paid a dividend while generating negative free cash flow and 34% of publicly traded Canadian companies paid a dividend last year that they couldn’t cover with their positive free cash flow. + +Dividend yield investing is really just a watered-down version of value and quality investing – and a poor one at that. + +Empirical data shows that an investor is likely to earn higher returns by focusing on a stock’s valuation and/or quality, based on measures such free cash flow and return on capital, instead of dividend yield. + +Over the past 20 years, Canadian stocks in the bottom 10% of dividend yield would have performed essentially the same as the top 10% of dividend yielders at 8% per annum. A $100,000 investment into either the highest dividend yielders or the lowest would have been worth $450,000 after 20 years. + +The top decile of FCF-to-EV stock portfolio, made up of stocks with low valuations based on free cash flow, would have compounded at 16% annualized, double the dividend portfolio. + +Empirical evidence indicates that focusing on valuation and quality of securities will earn you higher total returns compared to investing based on dividends alone. + +An investor can generate income by harvesting capital gains. One should be indifferent to $1 from dividends or $1 from capital appreciation. + +Dividends have lost their luster ever since share buybacks came to dominate shareholder yield over the past 15 years. +I have been having an absolutely shit house month. From minor colds and flu's that just never fade to massively interrupted sleep schedules, to rain damage causing thousands of dollars of property damage (and a bunch of fucking work for me digging drainage trenches to protect shit), to a death in the family, to my previously very reliable car shitting itself in a mysterious fashion at the worst possible time. The saying is "It never rains but it pours" and I am waiting for this fucking shower to end. + +I have spent more money this month on unexpected expenses then I spent in the last 6 months on day to day living. Churning through my emergency fund at an alarming rate. I have been missing work to do things that cost me money. Losing out on the paycheck AND not earning anything at the same time. But if this shitshow had of struck in the middle of 2020 I wouldnt have had an emergency fund. I was 100% all in on the ASX. I would have had to sell stocks like VUL and BPH and BUY and BRN before they went mental and actually made me money. The point I am making is that it's not a bad idea to have some money set aside in case things go to shit. Because things tend to go to shit unexpectedly and it's often not just 1 or 2 things but a whole fucking bucket load. + +So if you find yourself living paycheck to paycheck because you are going all in every week it might be worth putting some money aside in an emergency fund. Instead of buying in to whatever is getting shilled spending some time doing a bit more research into various companies. If you dont know HOW to research then spend time learning how, especially before you throw your money at another dodgy penny stock. Things have been shit for me recently but I am doing much better then I would have if I ignored the lessons i learned in 2020. + +Don't FOMO, have some emergency money, dont take advice from randos on the internet. +For starters, I'm old + +I was investing during the dot com bubble of 00-01 and during the housing bubble of 07-09 + +During the run up to both of those events, I saw sooooooooo many young people putting all of their money into the market at the top (even with shaky personal finances), getting hammered, selling out and saying the system is rigged. + +Don't be these people. The stock market (and capitalism) is the greatest wealth generator in the history of mankind. But 9 times out of 10, it only works if you have a solid foundation. + +My personal opinion, if you are 18-19 years old, before you start investing.... + +\- Have a career plan. For many, that will be getting a college degree(s) and entering a professional career. For others, it might be a trade. Regardless, don't start investing until you've reached your adult career. + +\- Be debt free. It makes ZERO sense to invest in dividends if you have student loans, credit card bills, car payments, etc. A mortgage is acceptable, but i know most 18 years olds don't have one. + +\- Think of big life events. Eventually, you might want to buy a house, a second car, get married, etc. It's nice to have some cash for these things rather than pulling from investments. + +\- Remember to live! If you're late teens, early 20s.....have some F'ing fun in life (covid responsible of course). Go to parties, read books, travel to across the ocean, hike a mountain, etc. Don't be consumed with raising your monthly dividend payments from $13 to $20. + +Once you are 22-25 years old, debt free, career going, balanced life....holy cow.....you can get so rich just regularly investing in dividends. But do the steps right, life isn't about short cuts +What's your most recommended company analysis sources? + +**Answer critiria** + +* No 10k 10Q + * Why? They are obviouse and too verbose +* As unbiased as possible + * Why? So that our decision won't get biased by reading biased analysis. Facts only. +* Free of charge + +**Mine are** + +* [SWOT analysis](https://www.swotandpestle.com/) +* [Value investor club](https://valueinvestorsclub.com/) +* [Adamodar valuations](http://people.stern.nyu.edu/adamodar/pc/blog/) +* [Open insider](http://openinsider.com/) +* [Simply wall](https://simplywall.st) +* [Finance charts](https://www.financecharts.com/) +* [Macrotrends](https://www.macrotrends.net/) +* [Finviz](https://finviz.com/) + +**Notes** + +* I would love to see verbal analysis websites that you recommend. More like [SWOT analysis](https://www.swotandpestle.com/) and [Value investor club](https://valueinvestorsclub.com/) and less Metric ones. + +&#x200B; +Are trade unionists right, that the companies they work for have large enough profits to raise all their wages? + +My understanding was a lot of businesses operate on very slim margins. But in the UK (and elsewhere) there is a wave of trade union strike action. Across all sectors from trains, to nurses. + +All are demanding higher pay. Which seems perfectly fair on an individual level giving the cost of living crisis. + +They claim that companies are making huge profits, which should go to workers. Is this generally speaking true? Are they making large enough profits for these above inflation pay rises? +So earlier I made a post after discovering a private jet registered in the Cayman Islands with the reg VPCBA is at Côte d'Azur airport, and arrived at roughly the same time as Ken’s jet N302AK. + +This jet is registered as 2 different types of planes, one, a Boeing 737, and the other a bombardier 6000. UPDATE: the Boeing has been de registered. It is definitely a bombardier 6000 + +according to flight radar 24 it is a bombardier 6000. VP is the reg code for Cayman Islands. + +Flight radar24 is a popular website to track planes, I manually came across this by navigating to the airport in the French Riviera and clicking on every different plane there, this one is parked in a hangar and was the only one with very little details available, other than the fact it has a private owner, it’s model and it’s registration. + +This plane is now ‘BLOCKED’ on flight radar 24. The mods removed my old post as there wasn’t enough evidence as to it being related to Ken, but this didn’t stop me. + +Even though the plane is now blocked, I remembered exactly where it was parked and the flight path of where it just came from is still public. + +This fucking plane came from Paris. AND SO DID KEN. They both arrived within the same hour at the French Riviera. + +https://www.flightradar24.com/BLOCKED/28dfb8df + +This is the link. Notice how it does a weird fucking 360 mid air wtf. Update: this is apparently called a holding pattern. Learn something new everyday lol. I don’t know shit about planes 🤣 + +now look at this. This is Ken’s plane and it’s flight path + +https://globe.adsbexchange.com/?icao=a326ca + +VPCBA is registered to a company in the caymans called Casbah Group LTD. FOUNDED IN 2008 + +https://www.airport-data.com/aircraft/VP-CBA.htmlQQ + +https://www.bloomberg.com/profile/company/1221909D:LN + +UPDATE: CASBAH IS ARABIC FOR CITADEL!!!!!!!!!!!!!! OMG!!!!!! +[https://en.wikipedia.org/wiki/Casbah](https://en.wikipedia.org/wiki/Kasbah) + +UPDATE 2: the blocked link does now not work for me, this is extremely fucking sus, as you could see the flight path from Paris to the French Riviera. It is now gone. + +UPDATE 3: upon reading counter DD, Casbah had the boeing registered in their name and not the more recent plane, the bombardier 6000. The boeing is now de registered which means it’s out of service. + +Please help me look into this so we can get to the bottom of it🤜🤛💎 +[https://www.abc.net.au/news/2021-06-14/survey-home-ownership-not-an-option-for-most-young-australians/100205244](https://www.abc.net.au/news/2021-06-14/survey-home-ownership-not-an-option-for-most-young-australians/100205244) +The wife and I are essentially adding a third woman to our lives who will live with us shortly. + +Is there any legal issues to be concerned about in a long term situation with more than two individuals? +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! + +So today I did two RTGS transactions within a span of 4 hours. Half an hour after the second transaction I receive a call from landline 01412822453 (which in Truecaller shows as SBI ATM ALERTS DEPTT). + +The person spoke in Hindi and asked if my name is XYZ. I said "Yes." Then he asked "Have you done RTGS of X lac recently", I said "Yes", he then said "Before this today you have done another RTGS of Y lacs". I said "Yes". + +Then he spoke some biolerplate line reminding me to be careful with online transaction (i forgot what he said, he was speaking fast). Then he cut the call. + +Anyone had this experience after doing large RTGS transactions via Netbanking? It seemed suspicious that an actual person knew about my transactions in real-time. + +Is this some new Fraud Detection system in place by SBI? Should I be worried? +So, I've never had a lot of money, but I lost my full time job this past April and I'm now working part time at a bank while also attending college during the day, 3 days per week. I make about $250 per week. My grandma gives me $400 per month to help with my rent. I know, I'm pathetic. + +I've been having to borrow a lot of money from my parents, and it's been pretty shitty, so I broke down and finally added up all my expenses and income, and I make about $700 less than I need to just to break even. I check on Indeed pretty much every day to see if I can get a second job, but the job market in my area is really bad, and I'm also kind of limited by my school schedule as to which hours I can work. Dropping out is not an option - I'm a semester and a half away from my Bachelor's. + +My rent is $600 and I am probably moving soon, in with my brother, which should cut that almost in half. I did notice that I spend a lot of money on food - like $400 per month. I don't eat out very often but I do cook a lot and I literally never check prices when I'm grocery shopping, I just get what I need for the recipe. So that's an area of opportunity. + +But even if I cut both my rent and my grocery shopping in half, I'd still be in the hole. I have about 4 credit cards all with low limits (the highest is $650) but they're all maxed out and I pay about $130 monthly for them, just minimum payments. My credit sucks. I would get a debt consolidation loan for them (they all have high rates, like 24%) but I almost certainly will not be approved for any kind of loan based on my DTI and my credit score. + +I'm overwhelmed by all of this. I'd like to start digging myself out of this hole but I have no idea where to start. + + +Edit: As requested, here's my breakdown: + +&#x200B; + +Income: $1430/mo + +&#x200B; + +Expenses: + +&#x200B; + +Rent: $600 + +Renter’s Insurance: $17.50 + +Gas/Electric: $95 + +Trash Service: $21 + +Phone: $80 + +Groceries: $350 + +Food at Work/School: $50 + +Vision Insurance: $13 + +Car Payment: $256.80 + +Car Insurance: $103.10 + +Gas: $140 + +Misc. Car Stuff: $40 + +EZ Pass: $45 + +Student Loan: $50 + +Cable/Internet: $67 + +Alcohol: $20 + +&#x200B; + +Credit Cards: + +&#x200B; + +Capital One Quicksilver: $25 + +Capital One Platinum: $40 + +Credit One Platinum: $40 + +Indigo Card: $25 + +&#x200B; + +Total Expenses: $2078.40 + +Edit: I understand what RIP inbox means now. Thanks for all the replies. I’ll go through them all when I get home later. Sorry to those I couldn’t respond to. +My mother died in December (in Florida if it matters). While my absolute hero and probably the best person I'll ever know, she had extremely bad health problems that occurred in 2007. Parents tried, but it was a long roll down hill. House was lost, no real possession, etc. Father fell sick and has been in a full time care facility for 2+ years now, and she was disabled for probably close to a decade. She rented a tiny space, had a junker car, and owned nothing. Her bank account was fully government funded. It was a small and simple life, but she was happy. + +Before her death, she had a wicked fall. A fall that broke her eye socket and lead them to discover a bleed in her brain. This all happened in Wisconsin while visiting family. She was treated for weeks, and eventually cleared to come home. She's home for a few months and passes away. I currently have all of her mail forwarded to me. **There are so many collectors.** Those people want to be paid. + +What should I do? She died with nothing: no insurance, her bank account had $73, owned no property, etc. I did the simplest cremation, which still cost more than her old van was worth. + +I was thinking I should send each one a copy of her death certificate, but do I need to? There isn't an estate to go after. Should I send it out of courtesy? + +Edit: Holy crap this blew up. I'm going through every single comment. +The OTLY stock chart is one you don’t see every day. It's down \~80% since the IPO in almost a straight line. The fundamentals, in their own way, are even more amazing. + +Oatly went public little over a year ago, raising over $1 billion in the process. Yet the company *absolutely* needs to raise a significant amount of capital in the next 12 months. + +Oatly finished Q1 with $411 million in cash. Guidance suggests Q2-Q4 capex of $347-$447 million. Management ostensibly could pull back, but commentary surrounding Q1 results and the company’s strong belief in up-and-to-the-right demand suggests it won’t, at least not immediately. Operating losses — Q1 Adjusted EBITDA was negative $71 million — should wipe out the remainder of the cash balance. + +That means Oatly will need to utilize its revolver, with about $475 million in capacity. But one of the covenants of that revolver requires positive EBITDA by Q2 2023 — unlikely, to say the least, given EBITDA margins in Q1 were negative 43%. + +If, however, Oatly can raise $400 million by the end of the year, that covenant gets pushed out four quarters. Oatly needs that cushion — and it probably needs that cash. On the Q1 call last month, even management said “we have sufficient liquidity to fund our business through 2022.” In other words, dilution is coming. + +All that said, if you look past, you know, the actual fundamentals of the stock, the business does look somewhat intriguing here. It’s easy to dismiss oat milk as a fad, or at least a highly commoditized product, but Oatly’s top-line growth has been impressive. Revenue rose 53% in 2021 after more than doubling the year before; Oatly is guiding for 37-43% growth this year. Both China and the Americas (Europe was more than half of sales last year) have significant room for further penetration going forward. + +The company’s plan to bring more manufacturing in-house will cost cash — but it should boost margins as well. If Oatly can get to 2025/2026, there’s a world in which turns into a reasonably stable, profitable, if niche player in the industry. + +There’s also the takeout possibility. Gluten-free leader Boulder Brands was bought by Pinnacle Foods back in 2015 for almost 2x revenue — and there seemed clear risk at the time that gluten-free was a fad in a way that oatmilk probably isn’t. + +The problem is that — almost incredibly given post-IPO performance — OTLY *still* trades at \~2.5x revenue, assuming modest net debt year-end and revenue toward the low end of the company’s outlook. And that 2.5x multiple is based on the current share count; assume \~20% dilution is coming (say, Oatly raising $550M against the current market cap of \~$2.2B) and the multiple gets up to \~3x. + +So many of these stocks that are down 80%-plus simply don’t seem to have compelling fundamentals. OTLY is no exception. Indeed, had the company gone public this year, one can imagine a relatively niche IPO, in which Oatly raised something like $300 million at a $1.5 billion valuation and analysts called it “an undercovered growth story”. + +Perhaps management needs to start running that kind of company, instead of serving the “growth at any cost” mentality that dominated the market until last year. + +## Beyond Meat (BYND) + +Oatly has some amazing fundamentals, but Beyond Meat’s are laughable. Not in the sense that they’re laughably bad (well, that too) but in the sense that a fundamental-driven investor should literally laugh out loud at some of the numbers. + +Let’s start here. BYND stock is down 83% over the past year — and its short interest still is 40% of the float. If we used those figures to create a version of the SaaS Rule of 40 (which is not a terrible idea in this market), perhaps the S—Co Rule of 40, BYND would come in at a sterling 123. + +But it’s the first quarter numbers that really tickle the funny bone. Beyond Meat — which makes hamburgers out of peas — posted a gross margin of 0.2%. Its gross margin is more properly measured *in basis points*. Its EBITDA loss was 72% of revenue (a percentage not more properly measured in basis points). Yes, the company is growing its sales — but at a 1.2% clip year-over-year. + +Any good investor knows to look beyond the headline fundamentals for a single quarter. But it’s not like a closer look suggests those headline figures were notably skewed. Launch costs for Beyond Meat Jerky hit gross margins by 940 bps — but that still suggests gross margins below 10%. That aside, gross margin still fell by more than 20 percentage points year-over-year, with the company citing “increased trade discounts” and “list price reductions” in Europe. + +In other words, Beyond Meat is cutting prices. Meanwhile, like everyone else, it’s facing higher costs. The problem is that even fixing those costs doesn’t help much: Beyond Meat’s gross margins fell 700 bps-plus last year. Again, this is not a single-quarter problem. Even in 2020, with a net pandemic tailwind, the company only generated $12 million in Adjusted EBITDA (with $27 million in stock-based comp). The loss on the same basis last year was $112 million. + +Beyond Meat’s $1 billion in convertible debt (thankfully at a 0% coupon) matures in 2027 — and is yielding more than 20%. Beyond Meat’s equity still has a valuation of roughly $1.5 billion. Insert your own joke here, and keep an eye out for any opportunity to join the horde of traders shorting this stock. + +[Link to original post](https://www.overlookedalpha.com/p/research-notes-consumer-upstarts?s=w). + 💡OMNI real estate Blockchain Revolution + +&#x200B; + +🏘🏡 We are standing at the crib of the real estate market revolution with OMNI real estate fractional NFT marketplace. This proposition and solution has been born out of a partnership between Passive Income ($PSI) and OMNI ($ORT). + +&#x200B; + +🔗 This revolution is about to take place in a decentralized manner utilizing blockchain technology to achieve it. Complete transparency and insight in where the dividends will go benefiting the investors that participate and contribute. Not just a exclusive "old boys" network of the people in power but a chance for everyone to participate, profit, and contribute to this movement. + +&#x200B; + +&#x200B; + +🧑‍⚖️‍📝 We can make the change ourselfes by adoption and embracing OMNI, this way we can empower ourselfes with no external intervention. No government, no bank, no insurance company will be controlling OMNI. Decentralization in its purest form. Ofcourse we need to comply to national laws and regulation but OMNI got it covered. OMNI has a lawyer specialized in blockchain to mitigate any legal issues. + +&#x200B; + +🏦 Remember the banking and insurance industry that engaged in self service and customer empowerment after the financial crisis? Online banking and insurance services increased dramatically. Alot of costs have been cut making it possible for the banking industry to offer services much cheaper to customers and investors then ever. I have seen this happen and unfold. This revolution has been misused to layoff workers. Top managers and management of these banks and insurance companies got bonusses on cutting costs by laying off workers. So progress and revolution has been used by a select group to enrich themselfes. Power corrupts, especially when it is centralized and in the hands of few. A result of this ofcourse is more unemployment benefits because of unemployment rising, with the banking and insurance industry putting the bill at "us the people" while getting massive bonusses themselfes. + +&#x200B; + +✊ OMNI wants to change this and make everyone benefit from the real estate market revolution. No one controls it, no one influences it except for everyone that is part of it. Join the movement. Lets make it happen! + +&#x200B; + +📄Contract: 0x1d64327c74d6519afef54e58730ad6fc797f05ba + +&#x200B; + +🌐Website: [https://omni-psi.com/](https://omni-psi.com/) + +&#x200B; + +🥞Pancake Swap: [https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x1d64327c74d6519afef54e58730ad6fc797f05ba](https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x1d64327c74d6519afef54e58730ad6fc797f05ba) + +&#x200B; + +🏛BSCscan: [https://bscscan.com/address/0x1d64327c74d6519afef54e58730ad6fc797f05ba](https://bscscan.com/address/0x1d64327c74d6519afef54e58730ad6fc797f05ba) + +&#x200B; + +🗯Telegram: [https://t.me/omnipsi](https://t.me/omnipsi) + +&#x200B; + +🐦Twitter: [https://twitter.com/omniestategroup](https://twitter.com/omniestategroup) + +&#x200B; + +📷Instagram: [https://www.instagram.com/omniestategroup/](https://www.instagram.com/omniestategroup/) +Please use the report button for posts you believe belong on /r/politics or are linking to a poor quality reference. + +Use this feature with care; however, because politics and economics are highly interrelated. + +An idea of what we are trying to here was best stated by johnleemk [here](http://www.reddit.com/r/Economics/comments/erxtq/welcome_to_the_new_mods_can_we_get_definitions/c1ag6a8) + +Thank you. + +Edit: **There is no reason to downvote this post. If you have a problem with this policy you may want to reconsider if you are actually interested in economics or politics. Please feel free to send me a message or post a reply with specific concerns or problems you have with the new policy.** +By /u/sirbastian, originally posted here: https://www.reddit.com/r/Bitcoin/comments/7iyej5/bitcoin_exposes_the_massive_economic_illiteracy/dr2sntd/ + +----------------------------------------------------------- + +While it's true that a currency needn't _necessarily_ be "backed" by something to be an effective means of exchange, virtually everything else you've said is false, or obvious pandering to the prevailing socioeconomic attitudes prevalent in this sub. + +First, let's dispel the notion that US dollars aren't backed by anything. US Dollars have an important quality that makes them useful to an individual, regardless of whether other individuals want them: they can be used to pay down US citizens' tax obligations. This is no trivial thing. Read about Chartalism for more information. + +>A currency, the manifestation of money, is valuable when it does a good job of transferring the aforementioned data by being: +1) easy to use and understand by everyone +2) tamperproof such that it resists corruption of the original signal +3) neglegible in overhead costs + +You're listing this out like it's out of a textbook or something, but it's just 3 random points you picked out of the air that are heavily influenced by the current subject matter of Bitcoin. The average economist, when asked about money, is not going to mention that it should be "easy to understand by everyone", tamperproof, or low in transaction overhead. They're going to talk about the usual trifecta: +1) A medium of exchange +2) A store of value +3) A standard of value + +Hilariously, even though you've arbitrarily chosen the metric we're using to measure the worth of a currency, Bitcoin still utterly fails to meet all 6 of these points. Let's go through them, starting with yours: + +1. Easy to use and understand by everyone - Why would you even set yourself up for this? "What is Bitcoin" "how does Bitcoin work" "How do I get a bitcoin" These are some of the most asked questions on the internet because nobody can grok Bitcoin on the first try, and even when they do, it's not clear to them how they can "buy in". +2. Tamperproof such that it resists corruption of the original signal - While at first bluff this is true, tamperproof is really just one element of a larger desire that malicious third parties can't change the debt record in their favor. From a purely technical standpoint Bitcoin should be resistant to this, but in practice, the number of coins lost to negligent storage, Wallet exploits, etc. puts this point squarely against BTC. I am much, MUCH less concerned that my US bank account will disappear due to some technical trapdoor, or compromised because somebody hacked into the computer systems at my credit union. +3. Negligible in overhead costs - Bitcoin is ludicrously expensive to transact in, and circumventing this via, e.g. the Lightning network, necessarily involves tradeoffs against other technical qualities that you will doubtless be counting for Bitcoin elsewhere. +4. Medium of exchange - worthless. Nobody wants to buy pizzas with Bitcoin, because it is by and large considered some kind of investment. I love the irony that people don't want to spend their bitcoin to buy things because they're convinced that it's so incredibly useful to buy things - so much so that it will one day net them millions of... dollars? No wait, not that! +5. It is completely untrustworthy as a store of value - putting money into Bitcoin is not safe. This entire sub has "invest responsibly" posts slathered all over it because even the most foolhardy zealots realize that that saying you should save your life's earnings in Bitcoin is a terrible idea. If I had $20 in a bank account in 2008, when I took it out today, it would only be worth 87% of what it was then. Inflation does hurt you over long periods of time, but this was a smooth, monotonic decay. It's the kind of value you can quite literally bank on decades in advance. Bitcoin has no such assurances. The value of your life savings denominated in Bitcoin changes significantly every day. +6. A standard of value - The fact that people's biggest concern is how many dollars one can buy with their Bitcoin tells you everything you need to know. Nobody denominates values in Bitcoin - it would be completely useless. If I told you this car was worth 1 BTC, that means two different things on Monday vs. Friday. If I tell you it's worth $15000, you understand. + +>It protects signal integrity to a degree that no other currency type can. + +This is meaningless. + +>This is why cryptocurrency is so valuable, and why it will continue to soar + +Oh, you mean soar up and down like a tech stock after an IPO? Making it completely untrustworthy as a store of value, and unusable as a medium of exchange? Regardless, even if it _was_ monotonically rising in value (it's not, not even close), why would this be a good thing? If you want to live in a world where all goods and services are completely denominated in Bitcoin, it doesn't matter what Bitcoin is "worth" in US dollars at any point in that cycle. The measure of Bitcoin's usefulness starts and ends with what types of things can be bought with it. It doesn't matter if a pair of shoes costs 1 BTC or .0000001 BTC if, all other things being equal, your salary and pension and taxes are measured in BTC. It's just a scale-factor. If you think the value of Bitcoin, denominated in US dollars, soaring into the stratosphere is a good thing, then you've patently revealed your true motivation, which is for the in-crowd to get rich. This is deliciously ironic given: + +>they betray their ignorance, their illiteracy and their complete blindness to the revolution that's happening right under their feet and which will, in time, bring down the corrupt power structures of our world to create a freer, fairer society for all of us. + +And so we see what you'd really like to see happen: destroy the riches of the current superwealthy and replace them with a different group that you like more - Bitcoin early adopters. + + + +Bitcoin is a fascinating development, and it blazed an important first trail in the modernization of money and commerce, but from a technical standpoint it is totally inadequate to serve as the currency of the internet, or the currency of the world. Transaction fees, energy usage due to mining, validation waits, Wallet protection, and exchange with existing monetary infrastructure - all of these things are lacking in fundamental, unfixable ways. The world needs something that has a lot in common with Bitcoin, but it also needs to have a lot of things that are quite different. Sitting around and telling each other that the establishment just "Doesn't get us, man" is fucking delusional. There are people that don't understand cryptocurrency, but this is not the only or even the main reason that Bitcoin falls into criticism. It is being criticized because it has real, legitimate, unsustainable, deal-breaker problems. When you write this kind of BS that 'the establishment is just trying to protect the status quo', you sound like a lunatic conspiracy theorist who things that GM knows how to make cars run on water but won't tell us because of the oil cartel. It just doesn't make any fucking sense. If Bitcoin was a digital pantheon of economic exchange that was going to usher in the modern era of banking, then you know who would be all over that shit? BANKS. It's not a cabal of evil capitalists trying to crush the revolution. It's a few uninformed people, and a bunch of people who have genuine grievances based on their understanding of monetary policy and finance. Maybe in some cases they're too stuck in their old ways of thinking, but anybody assuming that finance and banking professionals have no wisdom to impart here is gravely mistaken. + +The shorthand for all of this is to ask yourself: if you could wake up tomorrow to a world that had replaced all existing monetary infrastructure, would you REALLY want to? Millions of truck drivers with unsecured wallets, policeman's pensions sitting on the blockchain, Starbucks waiting 5 minutes to confirm that your $5 coffee (+ $5 settlement fee) can be handed over? 3 transactions per second for the entire world? +It's so interesting to me how often I've seen this. + +Someone is "so promising" as a child/teen & people tell them that. "Oh you're so smart!" "You're going to be so successful, I just know it!" + +& then 10 years later that "promising" person ends up struggling so hard. In so much debt for X, Y, & Z. Unstable or no job. Possibly failed marriage/relationships, etc. It's like the confidence (or is it pressure?) from those people in our lives just backfired in our faces. Like a cosmic jinx on our livelihood. + +Anyone else have this happen to them? Anyone have a statement like these that haunts them? + +Mine is definitely "You're so smart you can do *anything*!" + + +**EDIT** Holy rusted metal, Batman! I did not expect so many people to relate to this & reply. Thank you all for the tough love, the camaraderie, & the advice! I appreciate it so freaking much. OH- & for the awards! ♥ +Okay I know it's not alot but it's baby steps. I did some calculations and through my growth IRA I am able to consume 3 slices of bread and a gallon of water from just dividends alone. I know it's in my IRA and I won't be able to sell but this helps me grasp the idea if financial independence and exponential growth. So right now I have my IRA set up with sofi and here is the current holdings and dividend rates of the holdings. + +SFY: shares 147.839, position $2,139.23 dividend rate 1.14%, yearly dividend payout $24.54 + +SFYX: shares 18.621, position $251.76, dividend rate 1.06% yearly dividend payout $2.67 + +VB: shares 0.558, position $125.9, dividend rate 1.06% +Yearly dividend payout $1.33 + +VEA: shares 17.895, position $886.70, dividend rate 1.98%, yearly dividend payout $17.56 + +VWO: shares 5.726, position $297.18, dividend rate 1.76% yearly dividend payout $5.23 + +I added up all the dividend amount to equal $51.33 a year. If I divide that up with days of the year it equals to days of the year it equals to slightly over $0.14 . At walmart a loaf of white bread great value branded with 22 slices in florida is $0.88 (bread is exempt from sales tax). To calculate the price of a slice of bread I did $0.88 by 22 to equal $0.04. so with $0.14 I can have 3 slices or 3.5 slices a day. I have to drink so I did 3 slices which equals $0.12 so I can have money left over for water, for water prices I check my rate which is $70.45 for 6000 gallons. Which equals to $0.011 I didn't want to go over so I rounded down to be safe. I was bored and found out the calor count of 3 slices of bread which is (70 calories per slice) 210 calories. I know it's not much but considering 8.9% (690 million people) of the world is starving and I'm able to consume 210 calories a day without doing anything and just collect dividends makes me feel very grateful. Also I am only 19, hopefully I can keep on adding more and let compound interest take over so I can consume a loaf a day through dividends and share my loaf with others especially the 8.9%. if I'm able to get 3 slices from just one year of investing I should be able to get a loaf In 6 more before im 25 years old. Which is a amazing thought and encourages me to invest and save more. +https://www.cnn.com/2022/03/04/business/lukoil-end-war/index.html + +Russia's second largest oil company has broken ranks with President Vladimir Putin. + +Lukoil, which produces more than 2% of the world's crude oil and employs over 100,000 people, has called for an end to Russia's war in Ukraine. + +The company's board of directors said in a statement to shareholders, staff and customers that it was "calling for the soonest termination of the armed conflict." + +"We express our sincere empathy for all victims, who are affected by this tragedy. We strongly support a lasting ceasefire and a settlement of problems through serious negotiations and diplomacy," the board added. + +--- + +It will be interesting to see if anything happens to management. +If you believe in crypto you are in it longterm. For those that are exiting, just know you would have never held until now had you bought at sub dollar prices. + +You can only beat the algorithm and high frequency traders if you hold longterm. Crypto is a long play. +I'm trying to understand the Gold Standard system (I'm not educated in economics at all, sorry if the question is too dumb/basic), and I came across this explanation from Investopedia: + +*"The gold standard is a monetary system where a country's currency or paper money has a value directly linked to gold. With the* *gold standard**, countries agreed to convert paper money into a fixed amount of gold. A country that uses the gold standard sets a fixed price for gold and buys and sells gold at that price. That fixed price is used to determine the value of the currency. For example, if the U.S. sets the* *price of gold* *at $500 an ounce, the value of the dollar would be 1/500th of an ounce of gold."* + +In this example, with what criteria would the U.S. or any country decide on the price of gold and therefore the value of its currency? How does that result end up reflecting the wealth of the country? What stops a country from setting the price of gold very low to make its currency more valuable? + +Thanks! +In Canada inflation is 5% now. A 5% increase on everyday goods isn't too noticeable, but Often prices are going much higher than a 5% increase. Why is this? +Optus has now sent me an email saying a hacker has stolen a lot of my identity, and now has access to potentially more than 100 points of I.D. - so they could open credit cards etc..does anyone know what steps can i take to protect myself.. or has the train left the station + +edit + +1. Upgrade passwords and upgarde to 2FA +2. Subscribe to equifax (paid service) +3. Check [haveibeenpwned.com](https://haveibeenpwned.com/) (free service) +4. Beware of weird emails and activity +5. consider swapping carrier +6. wait for more information from OPTUS +Me and my wife just found out we are expecting a baby so we've been trying super hard lately to get rid of our debts and make it so we can live comfortably when the baby arrives. Had to take my little 10 month old kenai to the vet because he was acting very strange, found out he had a bladder Blockage and the surgery to cure him would cost 3100 dollars. We aren't in a position to get more debt so we made the hard decision to instead euthanize him. + +I'm a 23 year old man and I've never cried so much in my life, I wanted to save him so badly but I couldn't put us in a position where we would be drowned with more debt. I feel like I made the wrong decision. + +Ps. Apologies if my grammar is a mess +Hey guys! This is the second week publishing some of my screening and analysis. Thanks for the comments and feedback on my post last week, I hope this continues to be useful for you and me. + +**Overview:** + +I'm screening around 250 different tickers each week to identify those with potential to profit off of a put credit spread. The initial filtering is done based on 8 criteria and values I have listed below. After that I look to the daily chart, IV data, and premiums to see if anything tickles my fancy. If you have any suggestions/comments feel free to let me know, I believe strongly in constantly evolving the process! Suggestions of new securities to check out are welcome also. + +**Goal:** + +Open a put credit spread on an underlying that I believe will stay level or increase in price prior to expiration. + +**Filter Criteria** + +I'm trying to find securities that are generally trending upwards in a steady manor. Ideally they're down from 3 days ago, pulling back toward the SMA20, and ready to bounce slightly and continue the general upward trend. Liquidity and IV both should be relatively high and ideally no earnings calls coming up during the duration of the trade. If all 8 of these criteria are met they will be given a grade of "A", if 7 of the 8 are met they will be given a "B", if 6 are met they get a "B-", and so on. All securities that are graded as a "B-" or better will then be investigated further. It is important to keep very strict criteria, these don't guarantee profit but they identify securities that I personally believe fit my strategy and risk level most closely. + +1. Underlying Price: $50+ +2. Underlying 3D trend: Negative +3. Underlying Price relative to SMA20: +/- 5% +4. Underlying Price relative to SMA50: Above SMA50 +5. RSI: <70, not overbought or close to being overbought +6. ATM Implied Volatility: >50% +7. IV Rank: >50% +8. Options Volume: >30,000 contracts/day + +**Trade Attributes** + +1. Spread: $5 or $10 depending on the upward trajectory and underlying price +2. Credit Target: at least 1/3 width of the spread, for $5 spread aim for \~$1.66 credit. This is straight from Tasty Trade guidelines +3. DTE: 30-45 days (ideally monthly expirations, not weekly. Monthly generally has more volume) +4. Sold Put Delta: \~30 +5. Earnings: None during trade duration + +**Exit Strategy** + +* Immediately set a GTC order to close the position at 50% profit +* Depending on the situation (especially DTE) I'll try to manage losses but typically not looking at this until I'm within 15 days of DTE or something crazy happens like a pandemic +* If holding until expiration I ALWAYS close the position at $0.01 instead of allowing it to expire. This is just safer and avoids any assignment shenanigans with one or both legs. + +**2/21 Results:** + +* Total on watchlist: **222** +* Grade A: **0** +* Grade B: **3** + * CCIV, RIOT, PSTH +* Grade B-: **18** + * BTBT, TLRY, FUTU, DBX, BABA, NET, GM, UBER, NKE, PINS, GILD, DIS, CMCSA, AMZN, JNJ, NFLX, MSFT, TSLA + * **PSTH** is priced below $50 so lack of strike prices and awkward spread lengths make this one hard to put a position together for. Other than that, the indicators all look pretty good here + * **CCIV** had a nice big red candle on Friday which is a good indicator for PCS entry point but I still think it's too far north of the SMA20 to determine any sort of resistance levels. It's also really high on RSI, 70+ + * **RIOT** Pretty much the exact same comments as CCIV + * **BTBT** Below $50 stock price and very low options volume, probably just going to take this one off the watchlist + * **TLRY** it's below $50 and coming off a moonshot so risky play here. Decent IV and slight resistance around the $26 mark. Something like Selling the 26 and buying the 24 strike puts on 3/19 expiration might be playable. I'm out on this one but am willing to discuss further in the comments. + * **FUTU** Same comments as RIOT and CCIV, too high above the SMA20 and RSI is high + * **DBX** I tried to make work, most of the indicators look good (minus the $23 price ) but we just got through earnings and you can see the IV crush. Low IV means low premiums, might be a good idea to wait on this for another week or two to see if IV starts creeping back up. + * **BABA** looks like it's sitting nice and cozy on the SMA20 and is trying to recover from news out of China a while ago attempting to break them up over monopoly accusations. IV is pretty low so you can't really get your 1/3 width of the spread credit but 255/250 spread credits you \~1.30 which isn't bad at all and the B/E would line up nicely with the SMA50. This is playable but I have a different favorite this week... + * **NET** looks fantastic to me on everything except IV, similar comments to DBX. I'll wait a little while and let IV build up before opening anything here. + * **GM** (I almost typed GME out of habit) similar comments here, we just had earnings so IV crush is real. + * **UBER** similar comments, low IV after earnings and low options volume at 3/19 expiration + * **NKE** is a very interesting situation. The fun part here is that earnings is 3/18, the day before the 3/19 expiration date. This is significant because as Theta decays the option value, IV will likely trend upwards until earnings so they'll be acting against each other. The technicals look good, down day on Friday but riding the SMA20 and 50 as support and RSI right around 50. This is a situation where you probably wouldn't see a quick 50% profit and likely end up holding longer than 15 days. + * **PINS** Similar as a few others above, too far above the SMA20 and RSI is high + * **GILD** is nice except for IV is low, down day on Friday right around a support level. Options volume is a little low too. + * **DIS** similar comments as others, earnings IV crush has these selling for cheap. I'll wait a week or two and check back + * **CMCSA, JNJ, NFLX** are all similar and I'm not going to lie, I got excited when I looked at each of the charts because the technicals look pretty good. Unfortunately the IV just isn't there to make these worth the capital. + * **TSLA** **(Check edit below, too)** is my favorite this week. A bunch of hours reviewing charts and spreadsheets only to land on a pick that somebody with zero knowledge of the market could have recommended. Anyway, it's dropped below the SMA20 and looking for support on the SMA50 with a down day on Friday and RSI moving below 50 I think we have a good opportunity here. There is some risk, late last year into early this year TSLA shot up without much support to fall back on, if it continues to fall below the SMA50 there's potential to drop all the way down to the $650 area. For the 3/26 expiration date I'm going with 730/720 put credit spread which will collect around $3.30 in credit with a max P/L of 330/670 and a B/E around 726. + +https://preview.redd.it/bzh9uq8z9pi61.jpg?width=2810&format=pjpg&auto=webp&s=fd833339247668452911a14ab6a916c3ce499646 + +* **MSFT** weak support up at the recent levels it climbed to, low IV, and high RSI. No bueno. +* **AMZN** has a nice opportunity for an Iron Condor which I might pull the trigger on. IV is a little low but there's still potential to grab $200+ in credit for a pretty wide spread and it's been maintaining a horizontal channel for a few months now. With only 28 DTE (under the 30-45 we typically aim for) I like it. + +https://preview.redd.it/4j7nisz24pi61.jpg?width=2810&format=pjpg&auto=webp&s=ad88e233863d53e2eb2e752aec013a8a0366a4fa + +**Summary** + +That's two weeks in a row that nothing has met all 8 criteria which I think is a good sign, it means our criteria is nice and strict. I'm going with a PCS on TSLA and an Iron Condor on Amazon, however, I won't track the IC here as this is supposed to focus on PCS, I just wanted to provide that as an example if anybody was interested. + +&#x200B; + +**Pending Positions** + +* None + +&#x200B; + +**Open Positions** + +* PCS on BLNK 3/19 expiration 45/40 + * Credit: $2.03 + * Max P/L: $203/$297 + * Potential Return/Collateral: 40.6% + * Last underlying price: $46.01 + * B/E: $42.97 + * DTE: 27 + * Notes: Had 30% gain in the first few hours, should have closed out but held and now it's bouncing around the SMA50 as expected +* PCS on TSLA 4/16 expiration 690/680 + * Credit: $3.60 + * Max P/L: $360/$640 + * Potential Return/Collateral: 36% + * Last underlying price: $753.49 + * B/E: $686.40 + * DTE: 53 + * Notes: See analysis above + +**Trade statistics** (nothing to populate but I'm keeping this in here so I don't forget it on the next post) + +* Wins: 0 +* Losses: 0 +* Win %: 0.0% + +&#x200B; + +**FAQ** + +* Why use a put credit spread, why not a cash secured put? + * The underlying securities that I'm tracker are not necessarily ones that I would prefer to own long term. This specific strategy centers around identifying securities that will hold their value or increase within the next 30-45 days + * Limited downside risk if I'm wrong, I'm not evaluating these securities to potentially hold longer term + * PCS let's you play with the big boys! Companies like AMZN or TSLA require a ton of capital to be laying around for CSP that I personally do not have +* Why only PCS, what about other strategies? + * PCS was just the first strategy that I put together this analysis for. CSP and IC are also a major part of my overall strategy and I encourage diversifying strategies +* Where are these criteria coming from? + * Don't re-invent the wheel! Most of this criteria is coming from Tasty Trade guidelines. They have way more knowledge than I will ever have in regards to options trading which is why I trust them as a starting point. + * I will tweak the values slightly based on specific conditions or differences in risk management that I have from them. I encourage you to do the same +* Why sell at 50% profit instead of waiting until 100% at expiration? + * A la TastyTrade, due to theta decay and potential underlying price increase I'm looking to close out 50% profits within the first \~15 days of the trade. Theoretically this allows me to collect 50% of profits 3 times within the targeted 45 DTE + * I don't *always* cut and run at 50%, if I'm confident in the position I'll let it keep going +* What tools do you use for filtering and analysis? + * Google Sheets for the initial filter + * [https://docs.google.com/spreadsheets/d/1JEq9rtzUO8zNw\_cfcg01vd2lNzfipCJSiB4C8P7DhUw/edit?usp=sharing](https://docs.google.com/spreadsheets/d/1JEq9rtzUO8zNw_cfcg01vd2lNzfipCJSiB4C8P7DhUw/edit?usp=sharing) + * [Tradingview.com](https://tradingview.com/) for charts + * [Barchart.com](https://barchart.com/) for options data and earnings dates export + * [SwaggyStocks.com](https://swaggystocks.com/) for IV analysis + * TastyTrade for setting up my trades + +&#x200B; + +Edit 1: TSLA is dropping pre-market even further 2/22 morning! This is a good and bad sign, good in that our downside premiums will be higher which either allows us to maintain our planned strike prices for more credit or move our strikes lower to a safer price point and maintain the same credit. Bad in that we don't know how far it's going to go so we need to be careful about entering. I might even push it out to the 4/16 expiration to absorb any short term market correction. + +Edit 2: Updated my position with the TSLA entry point. I got lower strike prices and went with the 4/16 expiration due to the drop 2/22 morning. I'm expecting the \~$675 area to provide some support if the price drops any further. +New members of this sub need to understand to only put in money that they can afford to lose. I can see comments of single mother putting her life savings in and college kids borrowing money at a very high interest and going all in. + +This is not a joke. Losing money is not a joke. If you get a loan and buy a stock, you are at a risk. Only buy with money that you can afford to lose. Don't put your life savings or retirement corpus on this. +For people who are getting emotional and going all in against the hedge funds, the hedge funds will have a small scratch and you would be destroyed in the end. The concept of YOLO with buying stocks works only till you don't go bankrupt. + +I know this sub is now filled with a lot of new people telling you to buy the dip. Don't get emotional with money. This sub is for people who like to invest money that they can afford to lose, and not your life's savings when you are a single mother. + +I know Ill get downvoted to oblivion saying a statement like this, when the whole sub would be filled with "to the moon 🚀" +But please don't put in money you can't afford. Don't get loans and buy stocks. Money ain't coming easy and all the money you lost is earned by the hedge funds you wanted to destory in the first place. + +___ + +Edit 1 : I dint expect this post to blow up. I honestly thought it would be downvoted to oblivion. But thanks folks. And I am not paper handed, still holding to the 1 stock I bought. I'll take it to the end. +I'm not asking people to sell, just to not buy with money they can't afford to lose. +This probably isn’t the best sub to ask/discuss this topic but how do you justify buying up investment homes/rental properties especially in this scarce market? + +There are plenty of qualified buyers who are renting at the moment because there’s no supply and I feel a bit guilty taking these homes away from them… + +Do you chalk it up as it’s just business- nothing personal? +Been a solid 2 years lads. BRN no longer a meme but is still a meme. through thick and thin, through pump and dump, little BRN has grown to over 2billion valuation. + +They called us mad men at 1 billion MC on less that 100k revenue. We are but mere autists riding the wave. BRN 10$ by Christmas bois. + +We made it cunce + + +Free Melvin! +Fuck 1stPost + +Alida Validated +Time to look for the next Brainchip +❤️❤️🚀🚀 +I've been doing some research about mutual funds, indexes and ETF'S and the latter has cheaper fees, you can trade whenever you want, you can buy with less amount of money, etc, so why do mutual funds exist when ETF'S seems to be the same as mutual funds but better? Also I did read a claim that said that usually mutual funds holders lose more money than ETF's holders. +I'm having a difficult time conceptualizing how, in theory, everyone could gain wealth over a period of time. Where is the wealth coming from? + +Similarly, I can't conceptualize how we as a species used the Industrialization Revolution to create so much wealth. Where did it come from? I understand the Industrialization Revolution itself. + +Thanks +&#x200B; + +# 0. Preface + +Hello apes - I am not a financial advisor and I do not provide financial advice! + +There's some misconceptions that the price should be blasting off into the stratosphere due to apes direct registering. Of course, I have seen posts and comments pop up wondering why the price is going down, with some negative sentiment carried with it. I also see concerns that they could "keep infinitely shorting" with just one share not registered, which is not necessarily true. + +I'm going to provide you my reasoning why you should relax and be Zen. Which in turn gives a possible explanation of what may have driven the January sneeze: a choke on the clearing house which the shorters could not keep up with. + +Keep in mind that this is not fact, and everything I say should be taken with a grain of salt. Hence "possible DD". But in the end, we're all just throwing shit at the walls and discussing to try to figure this out. + +TL;DR: >!I love you!< + +# 1. Direct Registered Vs DTC Owned (Brokerage/Beneficial/Street) + +Computershare released [a great FAQ page](https://www.computershare.com/us/becoming-a-registered-shareholder-in-us-listed-companies) with a flow chart showing how stock ownership is partitioned. We're only really concerned with the "Outstanding Shares" portion, so I've highlighted it from the chart they provided on what to focus on: + +[https:\/\/www.computershare.com\/us\/becoming-a-registered-shareholder-in-us-listed-companies](https://preview.redd.it/o0qfzrevxqr71.png?width=1386&format=png&auto=webp&s=43be7fda5b7e3b105f8205c9b1b6c4f55b006292) + +You can see that "Outstanding Shares" is broken down into two subsections: "Registered-ownership shares", and "Beneficially-owned shares". + +* Registered-ownership shares is essentially all executives, retail investors, insiders, and others who direct registered their shares with the company via the transfer agent so that GameStop knows their ownership. +* Beneficially-owned shares is essentially the float. These are shares all under the DTC which they've produced a chain of "beneficial ownership" to lead to the shareholders. Say you buy under Fidelity. You are a beneficial owner of Fidelity's shares, and Fidelity is a beneficial owner of the DTC's shares. **It's a long chain but the key point is that the DTC is the outstanding owner of the shares**. + +The "Outstanding Shares" for GameStop happens to be 76.49M while the float is approximately 61.83M. This is the total number of shares currently issued out by GameStop which are either in circulation (float) or locked up (direct registered). \[[Share Statistics Source](https://finance.yahoo.com/quote/GME/key-statistics/)\] + +What's important to understand here, and even given by Computershare themselves, is that Registered-ownership shares cannot be borrowed. They also state this on [their FAQ page](https://www.computershare.com/us/becoming-a-registered-shareholder-in-us-listed-companies)! This is because the shares are in **your** name when direct registered, and not in the DTC's name any more. While you're under a brokerage, you do **not** own the shares, the DTC does. So it's free game for them to be played with, legally. + +[https:\/\/twitter.com\/computershare\/status\/1445478903070429184?s=21](https://preview.redd.it/e67jmpinarr71.png?width=979&format=png&auto=webp&s=42d1e3c36181d2246b920bd0d1594c4ae6773555) + +Now you may be thinking, hey, I can just shut off my lending at my brokerage and they won't lend my shares, right? + +And you're probably correct - they won't lend the beneficially owned shares that you "own". However, the brokerage doesn't own those shares themselves and are still a beneficial owner of the DTC's shares. So while you may turn off lending, the DTC themselves can still offer up the shares they own and paddle them around to the SHFs, Brokers, and Market Makers who need them. All for the sake of liquidity (hooray). + +Along with this, if the broker had [internalized your order](https://www.reddit.com/r/Superstonk/comments/py33nd/i_am_going_to_say_it_brokers_are_breaking_the_law/) and given you an IOU rather than actually purchasing your share, then they **really** aren't lending out your shares since those shares don't even exist. + +So, you can assume that your "shares" under a brokerage aren't being lent out, but the shares that the DTC still owns (which you're in a chain of beneficial ownership of) **are** being lent out. + +**In other words, turning off share lending in a brokerage account doesn't do shit**. + +Otherwise, this thing would have blasted off to the moon long ago given the thesis that apes own multiples of the float. Surely if turning off share lending helped as everyone thought - the entire float would have been restricted by now? Nah, not the case. Not unless retail direct registers the float will the float officially be restricted from the DTC so that they can no longer lend the shares. + +Which leads to me breaking the initial Computershare chart down into basically a vertical fill bar. It's completely arbitrary but I made it for the sake of trying to convey how direct registration effects the borrowing power of the SHFs, Brokers, and Market Makers. + +The purple is the "Direct Registered" block. These are shares that cannot be borrowed. + +The red is the "Beneficially Owned" block. These are shares owned by the DTC and can be freely borrowed. Your brokerage account is under the red block, and the main purpose of DRS is to move those shares out of the red and into the purple. + +[Share Ownership Breakdown of Direct Registered Vs. DTC Owned](https://preview.redd.it/vf2hmro0vqr71.png?width=1591&format=png&auto=webp&s=9409c1315752d56f5703e4b535318f90cd0bea81) + +# 2. Effect of Direct Registering On DTC-Owned Supply of Shares + +Whenever an ape direct registers their shares, be it through DRS or DSP, the purple box increases in size, and the red box decreases in size by equivalent amounts. There will **always** be 76.49M shares accounted for when it comes to ownership. No more, no less. + +If an ape registers 100 shares, then the purple will increase and 100 shares are direct registered in their name. At the same time, 100 shares are removed from the red and the DTC loses them. + +How can you register? Mainly two methods, both involving the transfer agent, Computershare. These methods are Direct Registration System (DRS) and Direct Share Purchase (DSP). It really just depends on the current state of the shares, which I discussed [here in detail](https://www.reddit.com/r/Superstonk/comments/pyqtlc/theres_some_confusion_of_drs_versus_dspp_both/) if you're curious for it being more fleshed out. But generally speaking: + +* DRS is for shares that have **already been purchased** and are under a brokerage. You open up a brokerage account, buy 100x GameStop. You have beneficial ownership under the broker (and by extension the DTC). Since they've been purchased you have to do some kind of transfer to swap ownership, and must therefore use the Direct Registration **System** to [move them from "street" to "book" name](https://www.sec.gov/reportspubs/investor-publications/investorpubsholdsechtm.html). +* DSP is for shares that have **not yet been purchased**. You go through Computershare and utilize their DirectStock Purchase system to go and purchase a share from the lit exchange and then place it into your name, bypassing the brokerages "beneficial ownership" stage. If you've seen Computershare posts stating "DirectStock", then you can assume that the ape purchased new shares through Computershare. + +[Effect of DRS and DSP on Stock Ownership](https://preview.redd.it/rt6pkrbivqr71.png?width=1591&format=png&auto=webp&s=f56775b0836e319abc827b19c632ef9424ec8cdf) + +You can imagine that the above is what GameStop and Computershare sees all the time. Computershare is tracking the ownership of shares and adjusts this record keeping constantly. + +For the past 9 months, GameStop probably knew that their stock is owned many times over. The problem is that they have **absolutely no proof** based on their registration numbers. From their and the SEC's perspective, 61.83M shares are still unowned. + +Until that red box drops to 0, GameStop has no real reason to cry foul for manipulation. And maybe that is what they're waiting for - for the entire float to be registered before making any moves. But even then, that isn't to say that GameStop has to be the one to make the moves once the float is fully registered. I believe that direct registration itself will eventually lead to a critical point where the MOASS may ignite on its own without their intervention. + +Consider this. Why did the January sneeze happen? We have pretty good reason to believe that they easily suppress retail buy pressure to prevent price discovery (see the past 9 months of crab walking). So why not just route all of retail orders from January in such a way that retail buys don't influence the price? That should have been easy enough for them to accomplish even with the mass amount of retail FOMO. + +This is where I get the feeling that, despite not a lot of shares being direct registered at the time, there was a massive choke on the supply vs. demand of the shares that were being borrowed and the clearing house could not keep up to allow the shorters to continue to suppress the price. + +# 3. Supply Vs Demand; It's Going To Take A Lot of Shares + +Let's break down the vertical fill bar chart a bit further, by dropping in an arbitrary yellow "demand" block. This yellow block represents the amount of shares that they are borrowing and in need of to either short the stock or reset FTDs. + +Standard supply and demand means that as long as your maintain a fair supply compared to your demand, you need not worry about the underlying item becoming expensive or hard to obtain. + +And the key to think of here is that while they may have millions of shares to borrow from, those shares still need time to settle before being added back to the "pool" of supply that they can borrow from. We see this through statistics from sites like [IBorrowDesk](https://iborrowdesk.com/report/GME) when the available shares goes from 1,000,000 to 500,000 and then eventually back to 1,000,000. There's some downtime as the borrowed shares must settle before being replenished. + +[Supply Vs. Demand of Available Shares to Borrow Against Under the DTC](https://preview.redd.it/d3ejsukg3sr71.png?width=1591&format=png&auto=webp&s=2b6c07b2fe05a9105922dd6bad0f0ebc290e8970) + +Which means that, no, even if they have one share available in this pool, it cannot keep the game going forever because it cannot be used infinitely 24/7. If they're in need of millions of shares and can only get their hands on one share every couple of days while it settles, they're screwed. + +Meaning that there can be a critical point where the SHFs, Brokers, and Market Makers have **too** much demand for the DTC's supply of shares such that the supply can't keep up. They'd snap up the shares as soon as they replenish, pushing the stock into a hard-to-borrow scenario, while being unable to get enough shares they need to keep things from blowing. + +# 4. Conditions for the January Sneeze + +Go back in time to January's sneeze. The stock had massive retail FOMO around the world, resulting in RobinHood themselves having an [enormous margin call of about $3 billion](https://www.cnn.com/2021/02/01/investing/robinhood-gamestop-vlad-tenev/index.html) due to having to post liquidity for the **new trades that had yet to settle**. + +We all know what happened next, but the point here is that an insane amount of money was pouring into meme stocks (since the total margin call can't be attributed to only GameStop) on **one** brokerage alone. This was not inclusive of Fidelity, TDA, Webull, and many other brokerages around the world. + +The really big problem for them is that if all shares were already owned by the time the January sneeze occurred, then they had to short to match the retail buys for the sake of liquidity. They **must** match a buyer with a seller, in which they could short to match the buy side. Odds are good that retail buys during this time were matched with short sells, and continued on for the following 9 months, as attributed by the short volumes we see every day. + +And in order to short to match the retail FOMO buys, they'd need to borrow against the DTC's supply of shares. But due to the massive amount of buy pressure and the downtime of shares having to settle before being able to be borrowed again, demand shot through the roof. The supply vs demand curve was brought way out of whack. + +[January Conditions on Available Shares to Borrow Against Under the DTC](https://preview.redd.it/htw5wel93sr71.png?width=1591&format=png&auto=webp&s=e742524195578ecedddff34a71252486c03a5c92) + +The clearing house gets choked because they're unable to settle these borrowed shares fast enough, and the SHFs, Brokers, and Market Makers are scrambling to borrow every single share the moment they pop back up. + +The downtime of shares being unable to be borrowed while settling can result in actual price discovery as there are no shorts (sells) to match the buy side, and any internalized orders by the brokers could have been caught up in [Net Capital requirements](https://www.reddit.com/r/Superstonk/comments/o7g9mn/net_capital_and_t21/) which choked them into being forced to buy the shares on the market for those IOUs in a snowball effect. + +Desperation kicked in, and they needed a massive pressure release to bring the demand (yellow bar) back down. They shut off the buy button for the meme stocks across the board, allowing the borrowed shares to settle, so that they could then easily hammer down the price with a considerably smaller amount of demand. + +And that sneeze was all without direct registration. It was mostly pure retail FOMO that pushed the supply vs demand curve to a critical pressure point, resulting in the shorters unable to keep the pace with the supply of shares under the DTC. Which implies that, even without the same amount of FOMO, that if the supply of borrowable shares gets constricted it can lead to similar conditions of "gamma squeezing" the stock. + +# 5. Direct Registering Pushes Towards the Same Conditions + +As retail registers their shares, it pulls those shares away from the DTC. Everyone loses their ability to borrow from those shares and the supply under the DTC starts to constrict. + +You may have been expecting direct registration to immediately start pushing the price upward, but that is not the case, considering all of the above about supply versus demand of the remaining float. + +Hypothetically, the supply could be the current float numbers of approximately 61.83M and the demand could be 10M. If those borrowed shares settle fast enough, then the demand could stay steady around those numbers. Absolutely no pressure on the shorters at the time being, allowing them to crab walk the price. + +Now consider if apes registered 31.83M shares. The supply would still be rather high at 30M while the demand remains at 10M. That would still be well away from pushing the stock into a hard-to-borrow scenario, and there's no pressure on the SHFs, Brokers, or Market Makers despite half of the float being registered. The borrow rates can also remain steady since there is plenty of supply compared to the demand, and they can expect the shares to settle in time. So, just because we're not seeing anything substantial yet does not mean it's not working. That is very important to keep in mind. + +Darkpool volumes decreasing is something to consider, though I'm not getting **too** hyped about it. I believe it's mostly occurring due to new purchases of shares via DSP, or brokers being forced to buy shares for their internalized IOUs due to apes DRSing shares. I wouldn't be surprised if it's just a short-lived decrease in dark pool volumes which will increase again after some DRS and DSP FOMO lays off. The main metrics I'm watching to determine direct registration effects are FTDs and borrow fees. + +[Effects of DRS and DSP on the Supply Vs. Demand Curve](https://preview.redd.it/9g3q2nisvqr71.png?width=1591&format=png&auto=webp&s=dc4ba181b2fb8a07747ded748f5a1ef7a35d5899) + +It is undoubtedly known that apes are registering, given the flood of posts every day of Computershare screenshots. But it's important to understand that the positive price effects won't be noticeable until that critical point of supply vs demand is reached. + +At which point the shorters will start to struggle matching retail buy pressure via shorting the stock and resetting FTDs. The price can begin to climb, FTDs can pile up, and the borrow rate can increase. As more shares are registered and the DTC's shares push towards 0, the SHFs, Brokers, and Market Makers begin losing all of their power to manipulate the price. + +The Market Makers won't even be able to utilize their loop-around of being able to "reasonably locate" shares, since the DTC won't own any more. The Market Makers can certainly apply that loop-around if there's currently no shares available to borrow but they can expect the shares to settle within a "reasonable" timeframe. But if the DTC has no more shares, then they cannot apply the "reasonable locate" loop-around any more. + +It's also important to remember that while they may be naked shorting to provide liquidity to the markets via these rules, what they're doing isn't exactly illegal. The system allows this as long as they can legally borrow against the DTC shares. + +That being said, if they keep borrowing shares once those shares are all gone from the DTC, then they are **definitely** doing illegal shit. But at that point, GameStop will see the float registered and they can take action. The shitshow ends. + +But again in closing - this is still just my hypothesis and is not 100% factual. I mainly wanted to post this because of the concern in fellow apes that I read when browsing comments or posts. Maybe this made you apes a little bit more Zen.💓 + +This is not a call to action to register your shares, it is purely informative. Be sure to do your own research. But in my opinion, DRS is the way. 🟣🚀 + +[Crush the FUD](https://i.redd.it/b3bfwfyvorr71.gif) +Me: 32 with two young kids, \~$20M net worth + $1M/y total comp + +Like many of you I dreamed of the day when I'd pass my fatFIRE number ($5M). I would travel to exotic locations, take on eccentric hobbies and own multiple properties filled with fun cars. + +Most importantly: I'd quit my stupid ass day job and spend each day doing what **I** wanted to do. + +However my FAT target has far more than come (thanks tech IPOs) and after the dust has settled I'm still in the same house, driving the same car, and working at the same job. + +And that's for multiple reasons: + +* My job is mostly fun and extremely challenging. I struggle to understand where I could replace the type of intensity and excitement I get from the fast growing startup hustle and bustle. Quiting sounds nice but I would immediately miss what I do and probably be forced to replace major pieces by myself without the conv +* I've found myself to be terrible at wide open blocks of unstructured time. In the past few years I've had some significant chunks of paternity leave that I always somewhat melted down during. Maybe it was the limited nature of these blocks but I found myself spinning in circles and extremely unsatisfied. My therapist and wife both want me to avoid quitting without at least a strong idea of what comes next. +* Kids and a wife means that any decision I make has to make sense. I can't just drag my family around with me or move them to a ridiculous location. The kids like school! It turns out that simply increasing our spending by \~50% per month (stop saving aggressively) was most of the excitement we needed (oohhhh first class! dinner out on tuesday!). +* I'm too damn practical. Owning a second home? What a waste - someone else is meticulously maintaining $1000/day vacation homes in my favorite locations (as long as I'm willing to reserve 6 months ahead of time). Owning a big house? OK that would be nice but my current rental is all the family needs for now. Exotic cars? lol. + +And so as of today I've somewhat defeatedly given up on my previous imaginative version of retirement. My day-to-day life with work is simple and satisfying. Adult daycare fulfills my needs! + +But I can't shake the feeling that I need to take the plunge and quit... that I need to move towards what is next in my life (helping others! fun hobbies!) to avoid this feeling that I'm just a hamster on a wheel. + +Curious to hear the those of those who have been in similar situations. How did you cope? What was the end result? +Me: 32 with two young kids, \~$20M net worth + $1M/y total comp + +Like many of you I dreamed of the day when I'd pass my fatFIRE number ($5M). I would travel to exotic locations, take on eccentric hobbies and own multiple properties filled with fun cars. + +Most importantly: I'd quit my stupid ass day job and spend each day doing what **I** wanted to do. + +However my FAT target has far more than come (thanks tech IPOs) and after the dust has settled I'm still in the same house, driving the same car, and working at the same job. + +And that's for multiple reasons: + +* My job is mostly fun and extremely challenging. I struggle to understand where I could replace the type of intensity and excitement I get from the fast growing startup hustle and bustle. Quiting sounds nice but I would immediately miss what I do and probably be forced to replace major pieces by myself without the conv +* I've found myself to be terrible at wide open blocks of unstructured time. In the past few years I've had some significant chunks of paternity leave that I always somewhat melted down during. Maybe it was the limited nature of these blocks but I found myself spinning in circles and extremely unsatisfied. My therapist and wife both want me to avoid quitting without at least a strong idea of what comes next. +* Kids and a wife means that any decision I make has to make sense. I can't just drag my family around with me or move them to a ridiculous location. The kids like school! It turns out that simply increasing our spending by \~50% per month (stop saving aggressively) was most of the excitement we needed (oohhhh first class! dinner out on tuesday!). +* I'm too damn practical. Owning a second home? What a waste - someone else is meticulously maintaining $1000/day vacation homes in my favorite locations (as long as I'm willing to reserve 6 months ahead of time). Owning a big house? OK that would be nice but my current rental is all the family needs for now. Exotic cars? lol. + +And so as of today I've somewhat defeatedly given up on my previous imaginative version of retirement. My day-to-day life with work is simple and satisfying. Adult daycare fulfills my needs! + +But I can't shake the feeling that I need to take the plunge and quit... that I need to move towards what is next in my life (helping others! fun hobbies!) to avoid this feeling that I'm just a hamster on a wheel. + +Curious to hear the those of those who have been in similar situations. How did you cope? What was the end result? +Even billionaire investors are caught out like retail bears. + +Back on May 12: + +https://www.cnbc.com/2020/05/12/risk-reward-for-stocks-is-maybe-as-bad-as-ive-seen-it-stanley-druckenmiller-says.html + +>Legendary investor Stanley Druckenmiller says he doesn't like the way the market is set up + +>Hedge fund manager Stanley Druckenmiller told the Economic Club of New York on Tuesday that, "the risk-reward for equity is maybe as bad as I've seen it in my career," Druckemiller said, according to the organization's Twitter account. + +>The hedge fund manager also said he thought the market was overreacting to news of progress on antiviral drugs, such as Gilead's remdesivir. "I don't see why anybody would change their behavior because there's a viral drug out there," he said, according the club. +We always talk about how to invest and maintain your fatfire, but let’s do the opposite and say you retired at 40 and only had a couple of years to live to blow $5-10 mil. What are the most worthwhile expenditures to enjoy your last few years and burn thru all the money? +As I haven’t been in the markets long enough to see large companies go through stages of their existence, I’m wondering how much effect CEO PR has on company valuations. + +He’s obviously a huge part of the Tesla brand and without a product moat I’m curious what more experienced investors think of all this bad PR first with Twitter and just now with the private jet tracking account. +Is it me or VWCE past weeks performance seems a bit too good? + +5% in a month and 18% in 6 months for a mega diversified world ETF are starting to worry me. I know about not timing the market etc etc but at these levels I don't even feel confident in adding to my position even with my saving plan by dca. I didn't see a single stop between 88 and 95. + +I think this performance is also extended to other all world ETF but I'm not checking other ones regularly. Obviously this is all speculation and just a few personal/conversational thoughts but lately I'm looking at it almost as a benchmark of how overvalued seems to be the market. + +I don't remember a red day either. Do you? +If theoretically housing prices start falling significantly, supply outpaces demand, ect, how does one position themselves to benefit in this scenario? + +Who were the winners in 2008? +For those who don't know, PSTH is a Special Purpose Acquisition Company (SPAC) created by legendary value investor Bill Ackman. Recently, Bill announced an amazing deal that I will explain below. For each share of PSTH, you buy you will get: + +**1 share of Universal Music Group:** + +This costs $14.75 per PSTH share. Bill bought 10% of UMG at a valuation of $42.4 billion. Goldman Sachs recently valued UMG at $53 Billion, and Bank of America just valued UMG at $59 Billion. If UMG trades near these new valuations, this $14.75 share will be worth \~$19-20. + +**UMG has a Huge Moat/Significant Barriers to Entry** + +Everybody loves music, and record labels are the leeches of the music industry. Unethical? Maybe. Good for PSTH investors? Absolutely. Take a look at the names of Universal Music Group artists (Drake, Kanye, Taylor Swift, Olivia Rodrigo, and the Beatles to name just a few. To reiterate, we own the fucking Beatles!) [https://en.m.wikipedia.org/wiki/List\_of\_Universal\_Music\_Group\_artists](https://en.m.wikipedia.org/wiki/List_of_Universal_Music_Group_artists) + +**1 share of PSTH**: + +That's right, you get another company! Bill only used $4 Billion of the cash he had, leaving him with $1.5 Billion for RemainCo (the remaining company). $5.25 of each PSTH share will be allocated for this RemainCo. It's almost impossible to speculate what company this will be, although r/PSTH thinks that it's Plaid or Impossible Foods, so it's almost certainly neither (jk love y'all). When will this company be announced? Once again, it's hard to say. Bill has known about this deal structure since November, giving him 7 months to find targets/negotiate deals. After 6/22 (date of vote by Vivendi shareholders to finalize the UMG deal) , Bill will be allowed to discuss ALL of this in more depth, and maybe even give us an announcement for RemainCo. + +**1 SPAR:** + +This is the icing on the cake. 1 SPAR gives you the right to purchase SPARC which is PSTH 2 at NAV ($20). Bill has $6-10.6 Billion to purchase \~10% of a huge company, and with SPARC you get access to the pre-IPO Price. You can only exercise these SPARs after SPARC enters a Definitive Agreement with a company. So unlike SPACs, with SPA**R**C, there is no opportunity cost. With SPAR, you have the opportunity to invest at NAV only after you know what the company is. + +Not only that, but Bill also recently [tweeted](https://twitter.com/BillAckman/status/1401376625401470977) that PSTH shareholders will get access to ALL future SPARCS at NAV. Just imagine if he does like 5-10 SPARCs over the next decade. This could potentially be the most valuable part of this deal, but for now, I'll say 1 SPAR + Warrants is worth $5 because it's super hard to estimate. + +**2/9 Warrants:** + +I don't want to go too much into depth on this, but you get at least 2 warrants per 9 shares held through the merger. More info [here](https://www.reddit.com/r/PSTH/wiki/index) + +**So, what's PSTH's value?** + +$20 (UMG)+ $5.25(RemainCo) +$5(SPAR+Warrants) = $30.25. + +At the time of this post, PSTH is trading at around $22.50 which is significantly undervalued at the moment IMO. + +Shoutout to the tontards over at r/PSTH much of this is just reiterating their analysis. There's some really excellent DD on UMG over there if you're interested. +Network fees, Coinbase fees, conversion fees, selling fees, fees for breathing. This is not how crypto should be. $30 to move my bitcoin is absurd, and way more $ to move Ethereum and ERC-20 tokens. I can transfer money from bank to bank with ZERO USD in fees.. It’s ridiculous and it will start to take notice. Imo it’s slowing down adoption & frustrating the hell out of people, myself included. +Did ally'all read the DD since the dawn of time and see the signs and the ragtag team of wrinkly-brained quants gathered to help hank prove or disprove the FTD cycle theory? + +Well I reckon that he proved it, and the fuckers decided to break the law yet again to try and disprove it. I reckon that the cost of hiding this recent FTD cycle to make it look like sideways trading has cost far more than is currently apparent. + +I believe that there have been phone calls and deals buying a few more days while they try to break sentiment and undo the correct summations from hank's and atobitts and criand's research. + +The castle did not expect all the serfs to pick the right lotto numbers - ever - and now they're trying to change the rules stop the gold from going to the villagers while at the same time avoiding a revolt. +Seriously. Don't do it. + +For starters, you are wasting everyone's time when you ask a question about your "algo" when it's clear you just want to humble brag about 100000% per year gains even though it's just a "backtest" you did in Excel. + +But more importantly, you are limiting yourself. + +I totally get the temptation to inflate success, even to strangers across the internet. When I first got into trading I would tell my buddies how much money I totally made on that one trade (in a paper account). Or how well my new algo was doing (that I was still executing manually). + +Lying to others makes it easier to lie to yourself. And lying to yourself makes it exponentially harder to improve. + +This applies to life more generally as well but I'm posting here because this is the corner of the internet where I spend my time and I've seen a lot of obviously crap posts lately. + +I'll get off the soapbox now. Best of luck to you all! +[Settlement website](https://www.equifaxbreachsettlement.com/) + +[Eligibility checker](https://eligibility.equifaxbreachsettlement.com/en/eligibility) + +[FTC.gov press release](https://www.ftc.gov/enforcement/cases-proceedings/refunds/equifax-data-breach-settlement) + +You can receive a minimum of $125, more if you had to spend time freezing your credit or suffered financial losses. Claims are open until January. + +Edit: there seems to be some confusion on being eligible for the cash settlement if you "don't have credit monitoring". I assume most readers here have something like Credit Karma, which is free and does indeed provide credit monitoring. + +Edit 2: obligatory thank you for gold! +Stop down voting people for asking questions and clearly being uneducated or that have am obvious misunderstanding of something. + +Its such a negative way to treat someone that is seeking help and advice or a second opinion, its funny how someone will get 15 downvotes on their opinion of what they think is correct and only 1 response telling them the right thing. + +Stop with the negativity and give useful advice to those clearly asking for it + +Edit: thanks to everyone who has given awards and up votes, I hope this will change the overall attitude of the sub into something much more positive ♥️ +# 0. Preface + +Not a financial advisor. Yada yada. If you actually listen to me you might want to get your brain checked for crayons. + +Probably no need for any more DDs from me after this one - its a cumulation of my thoughts over the past few months. People were interested in an SI% estimate so I thought, hell yeah, that's interesting shit. Why not? + +On a side note, I've learned pretty much everything I have about the stock market from Peppa Pig. Good stuff. Definitely recommend. + +https://preview.redd.it/wfiam0y2t0z61.png?width=549&format=png&auto=webp&s=49c513b5110df562a5032214966ddf0990c1c7a2 + +Once again I'll be referencing charts from the mastermind /u/broccaaa and their post [The Naked Shorting Scam](https://www.reddit.com/r/Superstonk/comments/mvdgf5/the_naked_shorting_scam_in_numbers_ai_detection/). Go read that shit. Seriously. + +Also, sorry. TLDR is very difficult besides the bullets of Section 0 and my calculated result in Section 2. + +# 0. What's Going On Here? + +I've posted a few DDs in the past, and have basically come to the conclusion of the following per the data I've seen. I'll show you a few charts from /u/broccaaa's post to support this: + +* **The price movements we've been seeing, both volatile moves up and down, are caused by the shorters themselves by holding back buy pressure and then unleashing it at a later date. They are the reason we see bursts of high volume and large surges on certain days. This is due to the "SI Report Loop" that they're trapped in, paired with the fact that there are no more shares left in GME and there have been no shares for quite some time. I'll go into more detail in the next section because it is the basis of the SI% calculation.** + * **They held back buy pressure from May 1 to May 12, and then it started to be unleashed on May 13. Refer to Section 1 where I discuss the SI Report Cycle.** +* I do not believe they are delaying FTDs or hiding FTDs. Ever. They are satisfying them immediately **with fake shares** and simply hiding their ever-growing SI%. This is why we never see the "FTD squeeze" theory play out. They aren't juggling a pile of FTDs - they're simply adding to their ever growing short position until they inevitably get margin called from too high of a risk. (Hello??? Reverse repo loans coming out at higher frequencies lately?!) +* Each type of option is used for a very specific play. We see large purchases of OTM PUTs, ITM PUTs, OTM CALLs, and ITM CALLs popping up in anomalies. + * **OTM PUTs = Used to hide their SI%**. This has no effect on the price of GME because these are not being exercised and they maintain OI even until expiration. The shorters are using these to hide their SI% from the world. The main counter-argument to the MOASS is "their SI% is 20%, they covered". So if you're a shorter and you hide your SI%, you can push that narrative that you covered and hope people sell. **Supporting Data: Figure 1, PUT OI Versus SI%. Check out how SI% drops when PUT OI skyrockets.** + * **ITM PUTs = Used to flash crash the price**. This is an expensive move and I believe we only saw this happen once, on March 10. This is a last-ditch effort move where you mass exercise ITM PUTs to crash the price down from a critical point. If you don't remember - March 10 the price hit $350 before being flash crashed down. They have purchased up many more ITM PUTs lately, so they might attempt this again. **Supporting Data: Figure 2, PUT OI For Options, March 9 to March 11. Look at how the PUT OI dropped on March 10, indicating mass exercise of options to flash crash.** + * **OTM CALLs = Used by other large players who want a profit.** [We only just recently started seeing these from what I can tell](https://www.reddit.com/r/Superstonk/comments/nafcuh/a_couple_deep_itm_puts_and_lots_of_otm_calls_were/). I'm assuming that because these just started popping up that other big players are looking to make some cash. The ones that were purchased expire on July 16, 2021. They might be hoping for the squeeze before then and maybe thought $140 was the bottom. + * **ITM CALLs = Used by shorters to filter synthetic shares through and satisfy FTDs**. These purchases occur a lot when FTDs pile up. I believe that they continue to use this in conjunction with Citadel in order to fulfil FTDs because there is no liquidity. These options have an effect on price because they are immediately exercised so that the shares can be delivered. **Supporting Data: Figure 3, ITM Call Volumes Versus FTDs. Deep ITM CALL volume skyrockets when FTDs increase**. +* And my most important finding: **shorts r fuk** + +[Figure 1: PUT OI Versus SI&#37;](https://preview.redd.it/bz6rqprd70z61.png?width=1848&format=png&auto=webp&s=6af2d251b49b225cfc94a8b8ecdfbda05b371e87) + +[Figure 2: PUT OI For Options, March 9 to March 11](https://preview.redd.it/br8zshfy70z61.png?width=792&format=png&auto=webp&s=17a336296450a063c9d656891fc0ce95cc74ab56) + +[Figure 3: ITM Call Volumes Versus FTDs](https://preview.redd.it/8haclqqp80z61.png?width=1894&format=png&auto=webp&s=ea99b5a40cd13293e51f68e9a99e3a15e70a5196) + +# 1. There Are No Shares Left. Every Share Being Bought Is Synthetic + +Well, at least most of them are synthetic. A vast majority are synthetic due to SI% being over 100% since December. You don't just suddenly find liquidity in GameStop after naked shorting the shit out of it. It's going to have to be continuously naked shorted (and produce synthetics) to satisfy buyers until the MOASS. Otherwise, whoopsie. They'll have to start unwinding a bunch of FTDs from being forced to deliver (and find the shares). So instead of that route, they'll make fake shares for the FTDs. + +I've been trying to understand what the hell has been going on with the price. Why did it surge in January? Why did it surge in February? Why March? Why did we see volatile jumps all over the place? Why does buying pressure seemingly get negated? T+13? T+21? T+35? No, no, no. It is all SI Report Loop. They're stuck in that loop and can't get out. I've talked about this in [my other DD](https://www.reddit.com/r/Superstonk/comments/n792mf/all_shorts_must_cover_theyre_entering_the_danger/) but I'll recap because it's very relevant here for why we can use ITM CALLs to calculate SI%: + +The shorters are stuck in a loop revolving around [Fina Short Interest Reporting](https://www.finra.org/filing-reporting/regulatory-filing-systems/short-interest). What exactly is this? + +>FINRA requires firms to report short interest positions in all customer and proprietary accounts in all equity securities twice a month. + +There's three columns on that link. What are they: + +* **Settlement Date**: The date at which short interest positions must be determined. +* **Due Date**: The date at which the report of the SI from the settlement date is due by. +* **Exchange Receipt Date**: The date when FINRA finalizes the reports and delivers them. + +You want to make sure that your short positions are **hidden** by the Settlement Date so that it pops up to the world on the Receipt Date. For example, they opened up a shitload of OTM PUTs (Figure 1, PUT OI Versus SI%) prior to January 29th Settlement. Upon February 9th, SI% dropped like a rock. As long as short positions are hidden or covered by the Settlement date, then the receipt date will not take those into account. + +Refer to Figure 1 on PUT OI skyrocketing when SI% dropped. At that point in time (early February), they could claim to the world that they covered, and they did claim that, but they actually just hid their short position from the world's eyes. + +Here's a copy/paste of the dates for 2021. I'm going to only copy the ones through the start of June: + +|Settlement Date|Due Date|Exchange Receipt Date| +|:-|:-|:-| +|January 15|January 20|January 27| +|January 29|February 2|February 9| +|February 12|February 17|February 24| +|February 26|March 2|March 9| +|March 15|March 17|March 24| +|March 31|April 5|April 12| +|April 15|April 19|April 26| +|April 30|May 4|May 11| +|May 14|May 18|May 25| +|May 28|June 2|June 9| +|June 15|June 17|June 24| + +So we can say that between each Settlement Date is a loop where they'll have new shorts open up, and then they want to hide those new shorts by the next Settlement Date so that it doesn't appear on the SI% report and increase it. (Imagine if one day we saw SI% jump back up from 20% to 140% or more. Imagine the headlines. They can't risk that happening). + +And what exactly goes on between each loop? Let me bring up my handy-dandy chart again before continuing. I've plotted the Settlement Dates here and boxed volatility moments. You'll see that **there is ALWAYS a volatile move up and a volatile move down between these dates**. + +[Figure 4: SI Report Loop And Volatility](https://preview.redd.it/il7rvu09d0z61.png?width=1423&format=png&auto=webp&s=e80d44e1b085ef132070f37c5cc45171519ca58e) + +Here's what I am assuming happens: + +1. Retail starts buying. They (Citadel & Co) create synthetics to match this buy pressure because there's no liquidity/no shares available. This negates buy pressure and any additional shorts (iborrowdesk) helps **drive the price downward**. +2. Retail doesn't get their shares delivered. FTDs start piling up. The synthetics created in #1 and the shorts that were opened in #1 need to be hidden by the next SI report date otherwise it will pump the SI% up again. The FTDs must be satisfied as well or it will start an unwinding of their massive web of bullshit. +3. They feed these synthetics into Deep ITM CALLs that are then purchased up, exercised, and used to satisfy the FTDs that were created by retail buying. **This process drives the price up**. Retail now owns more fake shares and their overall short position continues to grow. +4. Combination of #1 and #3 cancels out the downward pressure on the price. GME creates a higher low as long as retail didn't sell. If you look at the GME price chart, you'll notice how it continues to create a higher floor between each SI Report Cycle. Basically, the "true" GME price is revealed after #1 and #3 cancel each other out because it shows how retail buying increased the price relative to the prior SI Report Cycle. +5. Any additional shorts they have will be pushed under the rug with OTM PUTs. + +Each cycle they continuously grow an ever larger short position and thus an ever larger SI% with these synthetics and additional borrowing. Meaning they continue to have higher risk, and their margin call price slowly moves downward. They keep making it worse for themselves. Every cycle they spend a little money kicking it down the road. Every cycle the price floor rises. Every cycle they increase their short position. + +You know how we see >=50% short volume each day? That's most likely them pairing 1:1 with retail buys for synthetics so that they can be later delivered through ITM CALLs. A bold assumption of course, but it could be relevant and might explain why we've been seeing that data of short volume. + +**That's why I believe that the volatile price movements both up AND down are caused by the shorters themselves by holding back buy pressure and then unleashing it at a later date. They are the reason we see bursts of high volume and large surges on certain days. They suppress the buy pressure with synthetics, but then must deliver those synthetics to satisfy FTDs. Upon exercising the ITM CALLs to deliver these synthetics, they cause the price to surge upward.** + +**I am assuming that every one of these Deep ITM CALL purchases are synthetic-covered and thus 100 fake shares per contract.** + +# 2. Assumptions In Calculating SI%, And Results + +We're assuming that the Deep ITM CALLs **are not used to hide FTDs** but **they are rather used to satisfy the FTDs** immediately with fake shares. This is most likely why we never saw the "hidden FTDs" pop out again to support the FTD squeeze theory. Because they've already been delivered, and the synthetics keep pumping into their total SI%. So they're in the process of juggling an ever-increasing SI% position while the price also continues to rise. + +Per /u/Dan_Bren, between March 1st and March 11th, inclusive, [there were approximately 27,650 Deep ITM CALLs purchased](https://www.reddit.com/r/GME/comments/m31f8b/2day_update_168_million_on_6650_deep_itm_calls/). If we assume that all of those were to fulfill FTDs and are synthetic due to no liquidity in the market, then that comes out to **27,650 \* 100 = 2,765,000 synthetic shares** **from March 1st to March 11th**. + +In another post, on April 1st, [there were approximately 5,960 Deep ITM CALLs purchased](https://www.reddit.com/r/GME/comments/mk6e2q/106m_of_deep_itm_calls_were_purchased_on_thursday/). Likewise, this equates to **5,960 \* 100 = 596,000 synthetic shares on April 1st.** + +[Figure 5: Cumulative Deep ITM CALL Volumes, March 1st to March 11th](https://preview.redd.it/eznmnbrc20z61.png?width=1890&format=png&auto=webp&s=c3002fadc94ca03ab92d3a4b17f322f97c2c5091) + +Look at the volumes between March 1st and March 11th compared to everything else. Oof. All those blips of ITM CALL anomalies is nothing compared to January and the spike in February. + +To be conservative I'm going to ignore straight up "volume" and rather calculate SI% based on a ratio of /u/Dan_Bren's data to the volumes we see. Here's results based on March 1st to March 11th, and April 1. I'm going to do an even value closer to the lower bound of 0.25 to get our "Average". It just makes the math easier. + +||March 1st to March 11th|April 1| +|:-|:-|:-| +|Cumulative ITM Calls|27,650|5,960| +|Cumulative Volume|\~110,000|\~14,000| +|Ratio of Volume to CALLs|\~0.25|\~0.42| +|"Average" Ratio||\~0.3| + +Since we don't have historical data prior to 3/1, I'm going to use these two data points (March 1-March 11, and April 1) as our estimated "synthetics created" per volume. + +With a conservative estimate, we'll say that we get 30 synthetic-covered CALLs that are exercised for every 100 volume (0.3 ratio). And thus 3,000 synthetic shares per 100 volume. + +Let's tally it up based on Figure 5. I'm doing approximations for volumes because I do not have the data sheet that was used to create this figure. It's also easier to work with even numbers. Sorry for the long table. + +|Date|Volume|Approximate Synthetic CALLs (Volume\*0.3)|Approximate Synthetic Shares (CALLs\*100)| +|:-|:-|:-|:-| +|Janaury 7|3,125|938|93,800| +|January 11|3,125|938|93,800| +|January 13|62,500|18,750|1,875,000| +|January 14|25,000|7,500|750,000| +|January 15|12,500|3,750|375,000| +|January 19|13,000|3,900|390,000| +|January 20|6,250|1,875|187,500| +|January 21|10,000|3,000|300,000| +|January 24|125,000|37,500|3,750,000| +|January 25|100,000|30,000|3,000,000| +|January 26|210,000|63,000|6,300,000| +|January 27|260,000|78,000|7,800,000| +|January 28|80,000|24,000|2,400,000| +|January 29|61,500|18,450|1,845,000| +|February 1|62,500|18,750|1,875,000| +|February 2|18,750|5,625|562,500| +|February 3|13,000|3,900|390,000| +|February 4|3,125|938|93,800| +|February 5|3,125|938|93,800| +|February 8|3,125|938|93,800| +|February 9|6,000|1,800|180,000| +|February 10|3,125|938|93,800| +|February 11|1,000|300|30,000| +|February 16|1,000|300|30,000| +|February 19|3,125|938|93,800| +|February 24|120,000|36,000|3,600,000| +|February 25|60,000|18,000|1,800,000| +|February 26|14,000|4,200|420,000| +|March 1|13,000|3,900|390,000| +|March 2|4,000|1,200|120,000| +|March 3|10,000|3,000|300,000| +|March 4|8,000|2,400|240,000| +|March 8|24,000|7,200|720,000| +|March 9|15,000|4,500|450,000| +|March 10|26,000|7,800|780,000| +|March 11|6,500|1,950|195,000| +|March 12|2,000|600|60,000| +|March 15|2,000|600|60,000| +|March 17|6,000|1,800|180,000| +|March 18|3,125|938|93,800| +|March 25|3,125|938|93,800| +|March 29|3,125|938|93,800| +|March 31|4,000|1,200|120,000| +|April 1|10,000|3,000|300,000| +|Total|||**42,713,000**| + +Yup. Assuming only 30% of the volumes resulted in actual synthetic CALLs being exercised to cover FTDs, we come up with a potential of **42,713,000 synthetic shares being created between January 7th and April 1st.** + +Just for fun though, and I'm sure some of you are curious. Let's assume 100% of the volumes were accounted for. What would that give us? Dun dun dun... 142,375,000 synthetic shares. But I'll stick with the conservative estimate for now. Just thought I'd slap that in there for fun. + +Now let's assume that these were all NEW synthetics created because the SI was already over 100%. (Why else would they be buying these? The assumption is ITM CALLs are necessary for zero liquidity.) So we'll take the peak SI% since shitheads never covered and never will cover. The SI was 141% at its peak. Since 141% is based on 55,000,000 float, we'll say the original short position was **77,550,000**, resulting in a grand total of **120,263,000** shares short as of April 1. + +What is the theoretical SI% now with our estimated **shorts/synthetics just up to April 1st** if the GME float is either 55,000,000 or the theoretical 30,000,000 as of late? + +|GME Total Float|SI%| +|:-|:-| +|55,000,000|218%| +|30,000,000|400%| + +Oh dear god. **That's a lot of tendies.** + +They're amassing such a huge position that keeps growing every single SI Report Cycle. It's no surprise these reverse repo rates are coming out more frequently and in larger sums. They are battling a massive risk position now and GME is continuing to rise in price. They've got to be on their last legs. + +GME has been edged so much and so long that when it explodes it's going to rip a hole in the fabric of space and time and the simulation we live in will crash. + +Cheers apes. I'll see you on the other side. +After seeing a few posts about LTE:V I wanted to look deeper at some aspects of the company as I've been looking for a new penny stock recently. Most of the posts seemed to be positive but not detailed enough for my purposes. I purposely set out to try and find any reason I could to not buy this stock. Why would I do anything else if I'm risking my own money? If I desperately look for something wrong with the company but cant find it its either a decent buy if other fundamentals line up, or all my sources are lying to me. I looked at every page google gave me for the first 2 pages across multiple search phrases. Their site, the reddit DD, their annual reports, forward looking statements, linkedin, worker profiles and work histories, etc. I don't intend to lay out a bunch of well formatted numbers for you since you can easily find that on a single finance site or other posted DD and their comments. It's what I feel is missing from some DD. The numbers can make sense but that doesnt always tell you if a company will do well. If you bought into this company without reading all the nonsense I had to for like 6 hours then you have a gambling addiction. If you bought based on any reddit single DD post, you're crazy(for any stock not just this one). If this buy made up more than a few % of your portfolio, please sell it and buy a few different ETF and leave it for 30 years until you retire. Sorry in advance for making you read so much but its for your own good. Dont listen to me, listen to yourself. Also dont listen to me since I bought gme at 319. If you believe in the stock then do whatever you want. NOBODY is Nostradamus except Nostradamus. And he was wrong all the fucking time. Don't believe any one person because they are right once or more times. If you want to actually make money and not lose it, do your own research. But whatever its the stock market, 50% luck 50% skill 50% bs. I made money by making good picks and also gambling things like SLGG volatility. Rant over. Read on. + +I'm partly reacting to this post: [https://www.reddit.com/r/Canadapennystocks/comments/lyp7dx/ltev\_buying\_opportunity\_at\_near\_private\_financing/](https://www.reddit.com/r/Canadapennystocks/comments/lyp7dx/ltev_buying_opportunity_at_near_private_financing/) but that's mostly just a starting point for me to talk about it. + +Just to be clear, its not my intention to attack the post or any other post or say its wrong. I just wanted more info for my own research and typing it up helps me and potentially others evaluate the stock. Even if you read through this and find that I'm 100% wrong on everything then at the very least you can have some conviction in the stock then. Hopefully then even if I'm wrong on some or all points you can get some value from this. I think every post has some value as they all provide their own points and sentiments that add to the overall picture. + +Originally I only had a short counter argument in to post in that thread as a comment but now I feel I've spent so much time on it and it's become big enough that it should probably be its own post so as not to derail the other thread. + +I eat crayons but my gut feeling is that I'm skeptical of this. Not that anything said by others is untrue but when I looked at it the pros aren't exactly sky high reasons to invest. If I wanted to invest for that long I might as well just invest in CN and be pretty sure I'll see good gains. It's risky and you could 4x but I'd rather get my tendies from a sure bet like CN. And I'm not that against risk. I scalped SLGG for +3k this week. And that stock was volatile AF, could have easily plummeted at the wrong time. But I felt more confident in that play than this one. + +My favo**u**rite colo**u**r is red. + +I swear I see different numbers for insider buys everywhere but there's something at least. + +Why did the president stop buying in 2020? Why does he buy 5k at a time every few days for a while then stop? Does this guy get paid every 2 days?? Covid? It looks weird but my guess was he needed to get his ownership to a certain level based on a board requirement or recommendation. Still though, he can't afford 5 out of his 30k for some more stock? Ownership is kinda low but its a small company plus he might use his options at some point who knows. Some people have sold but there are legit reasons to sell other than not believing in the company. The lawyer sold so maybe not a big deal. + +There's plenty of data available that shows CEOs with high $$ invested in the company perform better. He doesn't really own that much $$ wise. I've seen people saying insiders are buying more but I keep seeing different numbers so its hard to say. + +No major institutional ownership. One with a small stake barely counts. + +Its a v stock/otc. You win some, you lose some. + +None of the DD i've seen has much more than a few points and a selection of numbers. I wanted to see all the numbers. Like reading every line of the annual report numbers. I'm that guy that attends audit presentations because I have nothing better to do. + +They offered stock recently which helps their capital and potential growth but devalues the shares. + +Can you really compare these quarters fairly with covid? Q1 Revenue was up but covid man. If a third wave comes I don't expect them to bankrupt but I do expect their revenues to be lower and the low earth orbit rocket to be delayed in launching. + +They do have an acquisition of AMEC coming up soon. I would say their plans are to expand their deployment abilities with this. Less reliance on other companies or contractors and maybe a move to long term reduce costs. + +Their office does look real at least. I presume thats the president hard at work. Maybe 10-20 sized not counting workers that would typically be out of the office or in other locations. If you add the other locations I havent looked at plus out of office or contractors it seems to match their linkedin size. There's 28 people publicly stating they work there, but of course not everyone is on there so it probably matches the stated 51-200 size. I'm at least not worried the company doesn't exist or has a fake address to farmland or something. + +The president supposedly has 30 years of experience but his other ventures should be looked at to see if they were successful. Some other members have similar experience despite not working at this company very long. + +I've seen people saying the CEO will be gone soon but wasn't able to confirm this. Supposedly due to the AMEC deal. If true, I think this is a good thing. Just speculation but you cant help but wonder if he was planning his exit a while ago. He hasn't even been there that long. A new CEO could easily jump start the company if he or she is good enough but it will still have a near term impact of potentially slowing growth. + +It's tough to tell from a look at their financials if they are going to be okay. Covid happened so its likely skewed. They seem to be improving their cash flow over time but seem focused on growth over profitability. The revenues are up over time though. They have some debt but not a ton of cash either. They seem to think they have sufficient cash flow for the future. I'd think if they were going to collapse then they would have in the last 20 years. They have enough to keep going for a while though and they clearly state they want growth so I guess it's ok considering that. + +Their website looks like a typical business website and doesn't look low quality or shady. It has all the information you'd expect from a legit business. + +This stock has been mentioned here before on reddit a few times. Reports of sales and some minor surface DD. New contracts, cancelled contracts. There's been a mix of good and bad news over the past years but I didn't see many big things recently. Some small things so they might still be relevant but I wonder how concerned people are with fibre deployment during the covid recovery. If you want this to grow then what you want to see right now is sales. + +Reddit is not DD. Go look at everything yourself like I did after I saw all the positive posts and not much negative sentiment other than a few comments. I don't even have 100% of the info I wanted and my own opinion might change if I missed something or got something wrong myself. + +I've seen a price target of 1.30 + +I do have the forward statements for some guidance and recent history highlights. Most of it makes sense and is reasonable. I think the CEO is overpaid but the CFO is fairly paid. + +I have confidence they can grow the company but I wouldn't say I have total confidence in the management. If I'm buying into a penny stock I'm looking to 10-25x with confidence not 4x with less confidence and the same risk. + +There's a few sales posted on their statements but if you read the whole statement you get a better picture of their expected potential. They state themselves its not going to be easy going forward. They are based in BC and I don't see much expansion plans beyond that area other than the one Alberta plan. + +Don't forget about Daddy Elon and Starlink. Not saying we dont want or need fiber and for all we know having more people connected could drive more fiber connectivity. + +I'm just an above average ape. I'd buy in at .25 but would feel like I paid too much. .15 was a steal. But it's also a long term play. You can probably 4-6x but expect to spend several years invested. It's probably not going to rocket like some may hope it will just because the economy will start to recover soon. And I think there are some factors that make it less likely to go up as quickly as other plays will in the coming months or years. If you really wanted this to multiX then you should have bought in at .15. If anyone here is relying on fibre deployment in canada coming quickly and having them capitalize on that youre just fucking crazy. Daddy Elon had to come save our internet and he's in a much better position. The CRTC is a widely known and commonly accepted joke. The feds announced broadband funding but that will take forever and they can't take the whole pie as such a small company. Still, I guess its something positive. + +tl;dr I think the ceo sucks, they dont make money, there's some potential for gains over the long term, if you bought in now you probably won't lose your money, there's enough red flags for me to rather just pick something else to buy into, its your money. I don't think investing in a growth stock like this is a good idea right now. WHERE ARE THE SALES!? I know people have said some are coming and they very well might be but I didn't see much. All I can tell you is what I've seen. If people know about what all the sales are and how it adds up to more than last year or quarter then I'm eager to know since I couldn't find much. What I've seen looks like recovery and plans for future growth. But I don't see it happening right away. I came away from this less skeptical than when I initially went it. There's potential but there's also some shady shit. Be careful. I don't consider this as anywhere near a complete DD. This is like 1/4 of what I would do. But I felt like stopping here because I wasn't feeling it. If you still want to invest, I encourage you to dive deeper first. Too many unanswered questions. But that's the market I guess. I aint buying this. 0 @ 0. + +Thanks for listening. I welcome constructive criticism to help me improve or better inform me of anything I've gotten wrong. But its also 6am and I've been doing this all night so be nice. + +I don't have a complete list of sources but here's a sample: + +[https://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00036922](https://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00036922) + +[https://www.newswire.ca/news-releases/lite-access-technologies-reports-q1-2021-financial-results-801415887.html](https://www.newswire.ca/news-releases/lite-access-technologies-reports-q1-2021-financial-results-801415887.html) + +[https://www.canada.ca/en/innovation-science-economic-development/news/2021/02/minister-monsef-to-announce-high-speed-internet-projects-in-southern-british-columbia.html](https://www.canada.ca/en/innovation-science-economic-development/news/2021/02/minister-monsef-to-announce-high-speed-internet-projects-in-southern-british-columbia.html) + +[https://www.canada.ca/en/innovation-science-economic-development/news/2020/12/government-of-canada-announces-approval-of-first-universal-broadband-fund-project.html](https://www.canada.ca/en/innovation-science-economic-development/news/2020/12/government-of-canada-announces-approval-of-first-universal-broadband-fund-project.html) + +[https://crtc.gc.ca/eng/internet/internet.htm](https://crtc.gc.ca/eng/internet/internet.htm) + +[https://www.canadabulls.com/SignalPage.aspx?lang=en&Ticker=LTE.V](https://www.canadabulls.com/SignalPage.aspx?lang=en&Ticker=LTE.V) + +[https://www.marketbeat.com/stocks/CVE/LTE/insider-trades/](https://www.marketbeat.com/stocks/CVE/LTE/insider-trades/) + +[https://ca.investing.com/equities/lite-access-technologies-inc-technical](https://ca.investing.com/equities/lite-access-technologies-inc-technical) + +[https://simplywall.st/stocks/ca/tech/tsxv-lte/lite-access-technologies-shares](https://simplywall.st/stocks/ca/tech/tsxv-lte/lite-access-technologies-shares) + +[https://www.canadianinsider.com/company-insider-filings?ticker=LTE](https://www.canadianinsider.com/company-insider-filings?ticker=LTE) +**Lets be honest here:** + +Every once in a while, a project comes along that has the potential to redefine and completely shift an industry into a different direction. However, most people only hear about these events after it is too late to be a part of it. Well, lucky for you - you are reading this! + + \------------------------------------------------------------------------------------------------------------------------------ + +Let me introduce you to $SYA Protocol, $SYA has a team of doxed masterminds. Lamine and Daniel both have FinTech Experience & Recognition (Forbes 30u30) and are the leading designers, marketers, and engineers behind N26, Cookies, Klarna and other banks. $SYA protocol is their masterplan to humanize crypto and empower the future of work. + +To support their overall philosophy, SYA is needed to build the infrastructure here is why in further details: lamine23.substack.com/p/flooz-sya-and-the-future-of-work + + \------------------------------------------------------------------------------------------------------------------------------ + +**But let's keep it short and efficient:** + +These guys are moving fast. During the last couple of days, we have seen features being built in lightning speed. + +This is what the team working on right now and what they already accomplished: + +**Sya Radar – Web Interface (ready)** + +Interface for the $SYA you hold and the value of it in USD$ without any complications. See the number of $SYA holders and your next community reward. See the market cap, 24h Price change, etc. + +**Syp (Save your Pancake) - New layer of PCS (Coming very soon)** + +The team are working on a new Pancake Swap layer called Save Your Pancake that will be revolutionary and huge by solving many big problems UNI and Pancake swap could not solve. + +*So what to expect and how is it beneficial for the coin?* + +🔁 Swap any token on BSC, later also ETH blockchain. + +🏆For each transaction on Save your pancake platform there will be a fee that will be used to buy back + + $SYA which will slowly increase the market cap and evaluate the price. + +🔎 Universal and human readable search of any tokens (with verification badges) + +🤩 No more „slippage“, or „wrong output amount“ issues + +⚡️ Swipe a slider to increase transaction speed, no more gas fees to calculate and worry about + +👀 Meaningful processing state - you will see in real time what is happening to your swap + +💰 List of all purchases across your entire portfolio in a human readable manner + +🏆For each transaction on Save your pancake platform there will be a fee that will be used to buy back $SYA which will slowly increase the market cap and evaluate the price. + +🎁 and a few smaller but very delightful surprises... + +**Sya wallet (Coming soon)** + +App and browser extension. Instantly open a wallet, import portfolio from other wallets. Convert fiat into crypto. Send crypto to friends, family & businesses, donate to charities directly. + +Ability to buy cryptos with Paypal and creditcards. + + \------------------------------------------------------------------------------------------------------------------------------ + +**General stats:** + +There are now 18 500 holders of SYA, and a market cap of just $12 million (50% supply has been burned directly in the deployment. It has been burned (removed from the total supply) so no wallet it holding it. You can check it here in the first transaction: https://bscscan.com/tx/0x8dc4de3cd0a5754e5bf4c7d2cea3ad3bed3f78c0c9797c42bc357fac6f9b235a#eventlog) + +\------------------------------------------------------------------------------------------------------------------------------------------------ + + Tokenomics 10% on each transactions distributed as the following: + +• ♻️ 2% of all trades are redistributed to holders. + +• 🎁 2% rewards AKA community boost (Community will be rewarded big when we achieve 25k holders milestone). + +• 🌎 1% is donated to community-voted charities. (Already donated 350K to charity 10 days ago). + +• 📈 1% goes to marketing. + +• 🔓 2% of all trades are auto locked inside the liquidity pool. + +• 🔥 2% Burned Tokens. + + \------------------------------------------------------------------------------------------------------------------------------------------------ + +**Future plans for marketing:** + +The team is fine tuning the experience and making finishing touches on the features before rolling out the big marketing push. We are talking to big Youtubers, TikTokers and a massive TG presence. Being able to get in on this project now before it will unleashes is a rare opportunity. You have read this far, and you are most likely interested by now. So, welcome in and take a seat with us on this insane ride that is in front of us. LFG! + + \------------------------------------------------------------------------------------------------------------------------------------------------ + +**Important links:** + +Contract address: [https://bscscan.com/token/0x83a86adf1a7c56e77d36d585b808052e0a2aad0e](https://bscscan.com/token/0x83a86adf1a7c56e77d36d585b808052e0a2aad0e) + + Buy on Pancake Swap: exchange.pancakeswap.finance/#/swap?outputCurrency=0x83A86adf1a7c56e77d36d585B808052e0a2aAD0e + +🌐 Website (SYA): [https://www.sya.today/](https://www.sya.today/) + +📱 Telegram: @ SYA\_HQ + +🧑🏾‍🤝‍🧑🏼Teams credentials: you will find everything on our website! +I have 500k net worth making 24k per year (2k per month) in dividends. + +These are more or less minimal If any growth on the principal so assume zero capital growth. + +I’m 27 and I absolutely hate my job and working in general. + +Can I afford to just give it all up, move to a small town, and live off of the 2k per month? I think I can also do some part time minimum wage job to keep me busy and add a bit of income? What do you guys think? + +EDIT: I know that there’s the smart choice of trying out a different job/career. But for the sake of discussion, do you think I theoretically could just give it all up and move to a small town? +————————————���—————————————— +THANKS TO EVERYONE’s INPUTS. THERES TOO MANY RESPONSES TO REPLY TO EACH ONE BUT I READ EACH ONE AND UPVOTED THEM. + +To answer some frequent questions: + +1) no I did not inherit, I lived frugally and did surprisingly well in some stock investments in the past 5 years +2) my job is in corp finance (accounting heavy) +3) yes the divs I stated is net of tax. It’s a mix of REITs and dividend ETFs and covered call ETFs. +4) I do not own a house or car yet, but I’m always welcome to come back and live with parents for free + +On my thoughts: + +1) Half of you guys say go ahead and I can do it +2) Half says it’s not enough (due to inflation, COL, healthcare costs, too much time ahead) +3) Living in a cheaper country can work, though I still want to hold myself to a “US standard” regardless +4) Yea this gets near impossible if I have a wife+kids + +Everybody agrees that I should take a 6mo/1yr mental health break, travel, soul search, and learn smthn new or find a career/job I enjoy more. + +^ I totally agree, and I think my situation is such a predicament which is why I asked here. And the 50/50 response of yes/no illustrates the tough choice here. + +I guess I’ll take the break, and try to work myself to 1M net worth before I turn 35 and revisit this question later. + +I truly appreciate all the advice and loved reading those who shared their personal experiences having gone through this situation in the past, and those who shared how they or their friends lived in small towns. Love you all! +Interesting little thread on [Twitter](https://twitter.com/EpsilonTheory/status/1355526361570541572). + + +*We’ve started tracking the narrative structure of* r/wallstreetbets*. Over an 8 hour period y’day, we tracked \~30,000 posts. Of those posts, 97% were removed by mods/filters. It’s all bots, all the time.* + + +*BTW, you're also being played on Twitter. Me, too. I used to think it was the quality of my tweets that drove my follower count going up or down. LOL. I can track almost to the hour when Twitter turns on or off their promotion algos for my stuff.* + + +*This isn't about bots or any individual mode of spoof. It's about how ALL of social media has been successfully gamed by investment pros, is being successfully gamed by investment pros, and will be successfully gamed by investment pros. Meet the new boss, same as the old boss.* + + +*And by investment pros I don't mean "hedge funds" (although yes, that, too).* + +*I mean* [*@elonmusk*](https://twitter.com/elonmusk)*, I mean* [*@Benioff*](https://twitter.com/Benioff)*, I mean* [*@chamath*](https://twitter.com/chamath) + +*I mean every billionaire who goes on Twitter or CNBC to tell you \*how to think\* about their latest promote.* + +What are your thoughts? +[https://www.reddit.com/r/wallstreetbets/comments/dsb0mz/robinhood_has_inbred_and_made_the_ultimate_autist/?utm_source=share&utm_medium=ios_app&utm_name=iossmf](https://www.reddit.com/r/wallstreetbets/comments/dsb0mz/robinhood_has_inbred_and_made_the_ultimate_autist/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) + +I wonder when this becomes a systemic risk or when the SEC wakes up +Dear SEC Intern, + +Sorry not sorry you worked all weekend scouring memes and getting the tendieman song stuck in your head. + +False media reports about “Reddit traders” moving en-mass into silver, SPACs, or whatever is benefiting hedge funds at the moment is getting out of control. + +It doesn’t take more than 2 seconds and a smooth brain to pull up front page of WSB to see that nobody is talking about that shit (except for the bots). + +This is a clear case of market manipulation to lure outside investors into a “momentum opportunity” by fraudulently invoking the “reddit army” for whatever is convenient. This shit is getting out of control. + +Pls format the above into another SEC complaint for me, kthxbai + +💎🤚🚀🚀🚀 +*EDIT: // I did not expect this post to get so many comments and upvotes (and downvotes). Thank you everyone for your kindness and jokes. I.. did not expect to have such a shared experience with people all over the WORLD, not just the US, let alone the state! This may actually be my last life “milestone” so kind support is appreciated :) good luck!* + + +This is in stream of consciousness format because this is what it’s like IMO (a hot mess), so I pre-apologize for any discomfort. + +QUiCK! There are 14 other offers!!! Quick! It’s due in 20 minutes!!!! You’re only offering 10% over?? That’s it??? Can you at least pay in all cash?!!? Oh, you haven’t had kids yet because you can’t afford them??? Can you offer your first born son????Waive appraisal?? As is, right???? A meteor just hit it but can you still put an offer? It’s next to a building site for a solid waste landfill, but it should still be worth 400k++!!!!! No Contingencies ?? *10 failed offers and heartbreaks later* +YEAH, they accepted your offer BUT only if you can close in 21 days!!! And waive the appraisal!!! HURRY Sign it!! Read it!! Oops their agent just called! They got another offer!! You have 15 minutes to sign!! Agent just called again’ hurry!!! Hurry! Oh you’re pooping on the toilet?? Can you at least DocuSign while on it??? Quick!! You want to actually READ it??? Line by line??! Time is of the essence. OK you signed!! Ok, we gotta get an inspector in the next 4 days, get the escrow in the next 4 days!! Lending approval in 7!! Call the lender now!! Hurry!! Partial appraisal!! Add the termite to inspection and sprinklers.!! Quick!!! Hurry! Fhdoaickalxjdkksgjfjfjdjeksjfjfjrjdsijcksdk +Listen, I get it SCHD is a great ETF. But there are many great ETFs and stocks that offer great dividends and growth. Please when someone ask a question or wants a discussion stop just saying SCHD. We get it, there are post it’s appropriate for. I personally invest in it and understand it’s great but….this sub is meant for investors looking for constructive conversation and ideas. When someone post “what’s your favorite dividend paying company?” We shouldn’t see SCHD. It’s spamming ladies and gents and we are making it boring to interact here. I know I’m going to get some hate replies in this but I figured I would say it because many people feel the same way. Like I said I invest in it and it’s great, it’s just sometimes people are looking for something different with their dividend strategies. +My wife and I managed to reach an investing goal today of $1,000 in annual dividends. I know that is small potatoes to a lot of folks, but to us, it's a pretty big deal. We just started this journey about six months ago. Our overall yield is 4.84% and we have a little over $22,000 invested in the dividend portfolio, not counting what's in our Roths and a few other, smaller investments. + + +Anyway, I thought it might be fun for people to shout out and celebrate your achievements, if anyone would like to. It's just nice to tell someone sometimes. +Even though country is affected by Covid more than last year, why is stock market stable if not ?increasing this year compared to the same time last year? +The market isn't a hard science, it's equally driven by fundamentals as it is by market sentiment. If you understand that WSB is driven by an irrational cult-like echo chamber obsessed with meme stocks, what's wrong with betting against or along that by selling Theta + IV? It's obviously highly speculative and risky, but if you understand who you are betting against/with, it's not as stupid as some of you make it to be. For example, selling OTM CSP on GME/AMC knowing that there's an army of WSBs willing to die holding those stocks isn't such a dumb idea if you have the risk tolerance for it. + +I don't touch meme stocks, but my point is we are all learning and sharing. +So long story short, I was a passenger on the back of a motorcycle when the driver hit a big landscaping rock and wrecked, almost costing me my life. I spent a great deal of time in the hospital and off of work due to the extensive amount of injuries that I suffered with. Finally after a year of insurances battling each other and even a lawyer, I am set to get at least a $100,000 check in my name. I’m only 22, renting a double, with a leased car. + +If y’all were in my situation, what would you do? I’ve been thinking of starting with any debt I have, like my car and a couple credit cards, and paying those off completely. Then using some as a down payment for a house and also investing (which I know nothing about). I just need advice because I am so lost! This is the most money I will have ever had and the amount is super intimidating... +I recently saw a video about a guy who would buy stock in one exchange (ie US) and sell it in another (ie EU) and he'd make money off it through the difference in price. I was wondering if this is a thing and if it's doable. I read about dual listings but I haven't been able to find anything about people doing this sort of thing, or how to even do it across different platforms. Does anyone know anything about this? +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! + +So my partner (35m) and I (30f) filled out offset account with my savings today effectively paying off our PPOR (obviously we still need to formally discharge the loan) For context, we did have some inheritance (which we would obviously trade to have his parents still alive) but we've both contributed more than 50% of our combined income over the last 6 years and had a housemate for a third of that time. Most of our friends have either insane mortgages or can't even get into the market so celebrating with them feels wrong and boastful. + +Our plans are to discharge the mortgage in the next month or so once we've built up an emergency fund and to just invest in super/VDHG/essentially replicate super outside of super with the dream of retiring a few years early. + +Just wanted to say thanks to this sub for guiding our next steps and being a source of inspiration (and FOMO). +I recently took my 9 year old son and his friend to a local amusement park. (His mom is a single mom and works 60+ hours a week so we try to help them when we can). As typical of amusement parks, you could pay $3 or $4 for a bottle of water but they also had water fountains that were free. We were taking a break and observed a large family one by one refilling their water bottles at the water fountain. My son's friend said "maybe they don't have enough money to buy water" and my son said "maybe they have lots of money and want to keep it that way." + +Fixed typo. +Alright, so two months ago I posted about my issues with Poloniex and them not letting my withdraw my funds (now worth ~$77k). The post has grabbed some attention, and eventually Poloniex have replied to my support ticket, but ignored me ever after, as you can see here: + +https://i.imgur.com/lqVPFBX.png + +Eventually I got impatient of waiting for a reply, I went ahead and submitted a complaint on the BBB website, but that was to no help. + +I'm here to ask each and everyone of you for help, I need this to go viral, please. I want everyone to know how Poloniex treats customers who invest money on their website, and that they shouldn't be trusted, this issue has been going on for more than 5 months now, and with such an amount it's very, very wrong to ignore me and freeze my account, no organization should do that. + +I've trusted Poloniex with my money and this is what I get in return, a frozen account and no explanation of why my funds are held. This is very unprofessional and they're bad for the crypto community. Everyone needs to know about this and stop exchanging on this shady exchange. + +Proof of funds/account: https://i.imgur.com/9UfZ4P8.png + +Please everyone, help me get this viral and let Poloniex know that their reputation will be ruined if they don't release my funds. + +Thank you everyone, I appreciate it. +https://twitter.com/elonmusk/status/1392602041025843203?s=19 + +"Tesla has suspended vehicle purchases using Bitcoin. We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel. + +Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at great cost to the environment. + +Tesla will not be selling any Bitcoin and we intend to use it for transactions as soon as mining transitions to more sustainable energy. + +We are also looking at other cryptocurrencies that use <1% of Bitcoin's energy/transaction." + +Bitcoin down 6% at pixel. +I was browsing OEC trade information, and was surprised to see that the Democratic Republic of the Congo is the world's number one importer of postage stamps, with a value of [$1.19 billion in 2020](https://oec.world/en/profile/bilateral-product/postage-stamps/reporter/cod). That's almost 14% of total imports, and dwarfs the number two category (packaged medicaments, $221 million). + +Almost all the stamps come from the US, $1.16 billion, or over 97%; conversely, if I'm reading this right, about 93% of US postage stamp exports are to DR Congo. And indeed, the country is by a long way the world's top importer of postage stamps: [almost a third of global trade](https://oec.world/en/profile/hs92/postage-stamps?redirect=true) in the category goes into DR Congo. + +So, my question is: what the hell is going on here? Covert remittances maybe? A major addiction to philately? Or perhaps some kind of a clerical error..? +Coingecko listed! 👌 + +CMC might happen this week! + +Dextool Trending! might happen any minute! + +MoonarchSnipes group AMA this week! + +Satoshi Street Bets AMA! 👌 + +➡️Telegram: [https://t.me/stargazerprotocol](https://t.me/stargazerprotocol) + + +⭐️Website- [stargazerprotocol.com](https://stargazerprotocol.com) + +⭐️ STARGAZER PROTOCOL + +The most tech you will ever find in a utility coin. EVER. + +🤓 Stargazer Protocol is based on cutting edge solidity + +💫 THE TOKENOMICS + +5% Auto Liquidity + +2% Redistribution + +3% Marketing and ops wallet which is auto converted to BNB to avoid crashing the coin + +❌ANTI WHALE❌ + +1% max wallet + +0.1% max transaction limit for the first 90 days + +🔧THE TECH + +Stargazer is comprised of many modules which will be based on tiers. The features listed below are WORKING and will be released as the testing is completed. These aren't made up like most coins. + +❌Rugcheck - Ability to rug check a coin and get a rug score + +🐳 Whale Watch - Watch a wallets movements in real time. Get alerts when buy/sells happen. Adjust the alerts to show only buys, or only sells, or both. + +🎣 Harpoon - With a simple list of coins and a very recent list of holders of one of those coins you can identify a person of interest's wallet address with the harpoon technology. This will allow you to track down your favorite shiller, influencer, or maybe even Elon musk + +🤫Join - Join exclusive private chats only available to certain tiers + +📄 Subscribe - Subscribe to and follow your favourite alerts. There will constantly be new ones added but as of right now we have the following: + +💩 Poocoin Vetted - get alerted when a coin applies OR gets vetted for the poocoin vetted list + +💩 Poocoin Unvetted - Get alerted the second a coin pays to be listed on the unvetted list. + +🤖 Pricebot Purchased - The second a new coin purchases a price bot you will be notified. Pricebots are generally known to be good coins as there is no inherent value in buying a pricebot for a coin you plan on scamming. + +⭐️ Stargazer Alert - These are coins with a low marketcap, ownership renounced, a telegram, a dxlock for more than a month. These are cream of the crop and also very rare +When you compare USD with GPD or Euro or CAD, comparing to last year, USD has lost about 10% of its value. Why is that? And does it have something to do with trillion dollar stimulus packages? +> Companies that do everything from manufacturing phones to operating social-media platforms now account for nearly 40% of the S&P 500 + +[WSJ](https://www.wsj.com/articles/techs-influence-over-markets-eclipses-dot-com-bubble-peak-11602894413) + +https://i.imgur.com/XhB6s5R.png + +Is anyone else concerned with this? +Show u/rensole your love and support fellow apes! + +This is the time when he needs it the most. + +Lets ensure this sub is free of toxic mods. + +I have been a silent lurker on r/wsb and then r/gme since Jan and every morning watching the Anchorman's news motivated me to hodl stronger. He helped me (and I am sure many of you) harden your diamond hands. + +Let him know what he means to y'all!! + +P.S I dont really post on reddit so I did not know which flair to put, please dont jump on me :D. + +EDIT 1: For those of you who think that he needs to make this decision himself and needs his time to think. I agree with you all. I also think it should be our courtesy (if not responsibility) to show him how much his interaction/effort meant to us as a community. As rensole always says, "Ape help ape". + +EDIT 2: u/rensole if you are reading this, know that you have a place among us. r/gme may have (back-)stabbed you but the true r/gme lies in all of us with you and other great members in it! + +EDIT 3: For all those who awarded my post, a heart-felt and personal thank you. I love you all, and I like the stock! + +Final EDIT: You guys are absolutely incredible with your responses and support!! This says a lot about how this community has grown. Pat your shoulders for me you beautiful tendie-loving apes. You are now stronger than ever. + +To all the shills and hedgies, the MOASS is inevitable and is coming for you. Here is a little sneak peak into our minds [https://www.youtube.com/watch?v=FpE\_STh3E8I](https://www.youtube.com/watch?v=FpE_STh3E8I) :p + +FINAL final EDIT: YOU DID IT FOLKSS!! You have got him back on air! Thanks for the update u/redchessqueen99 and u/rensole. Get some rest after this mess of a day and stay hydrated :D +My colleague who works in the same Govt. office as me was telling me how he has an ancestral land in his hometown whose worth is more than his salary for the rest of his life which left me in awe and shock. I told him if he could build a building, it would earn him lakhs of rent every month which would be almost half of his yearly Govt. salary thus making his life better. I also suggested if he doesn’t have money to build a building, he can give it to a builder for a joint venture and he said he wouldn’t do that because that would the land no longer his. I asked him what he intends to do with that land and he said he would hand over the land to his kids post their marriage. I said what is the purpose of having such a huge property if it makes no difference to him or his wife or children. He said the land value increased hugely between 1990-2012 and he expects the land value to increase. I commentated that land value will now become stagnant since it already reached a peak. Can someone please explain to me what is the purpose of holding a land worth so much money when neither him, his wife or his kids cannot enjoy the benefits? + +P. S : I believe in real estate and would have invested in real estate if I had huge money. +**Stats:** + +I want to retire from my corporate job at some point and am trying to build passive income. I have 2 properties under my name: + +1. Condo in Boston. \~0.5M market value, $350K mortgage (refinanced once). $2400 rent/month. After all expenses, mortgage and taxes, the profit is about $500/month +2. SFH in Denver, \~0.5M market value, $350K mortgage. $2500 rent/month. After all expenses, mortgage and taxes, the profit is about $800/month + +My day job pays \~0.5M/year and I have $1.2M liquid assets. I hope to have at least $5000/month passive income. + +**Questions:** + +1. Can I just refinance and buy new properties, rinse, repeat and build my real estate empire? Any risk owning many properties with mortgage? How many more can I afford? +2. How do I scale from personal level to "empire" level? Switching to LLC to hold properties? +3. Should I buy more cash flow properties? Can you recommend some markets? The 2 properties I have are better with appreciation. + +Edit: I prefer delegating management work to property management companies. I'm happy to invest anywhere in the US. +The Carlsberg AKA Carl Hagberg nod was cool and all, but we missed the juice of it, which was sitting right in front of us. + +# Here’s the original: + +https://preview.redd.it/x6wotu63lly61.jpg?width=1920&format=pjpg&auto=webp&s=74eecc1dd07860edc90b8fdc9af6a4cdb115bb97 + +# NOTICE ANYTHING UNUSUAL? HOW ABOUT WE ENHANCE? + +&#x200B; + +https://preview.redd.it/n5eoxyvilly61.jpg?width=1920&format=pjpg&auto=webp&s=2d5a0b4316792e5cc0233f9c154fd8687e512361 + +# THERE. That triangle, sitting right in front of your face, where have you seen one of those before? + +&#x200B; + +https://preview.redd.it/iz8rls8olly61.jpg?width=1920&format=pjpg&auto=webp&s=5fb0bed13fcd53a37686d3fc32c09125c2555ca8 + +# BOOM. TITS JACKED. + +u/WardenElite and all our crayon wizards keep talking about **triangles** and wedges. So I deep dived into it. + +This is the [Wikipedia entry](https://en.wikipedia.org/wiki/Triangle) for **triangles:** + + A triangle is a polygon with three edges and three vertices. It is one of the basic shapes in geometry. A triangle with vertices A, B, and C is denoted △ABC. + +# Are you FUCKING KIDDING ME?! + +# A B C?! + +# As in ABCDEFGHIJKLMNOPQRSTUVWXYZ?! + +# That’s the Alphabet! + +And what is the Alphabet’s stock ticker? + +# GOOG. + +# BOOM. + +[Google](https://finance.yahoo.com/quote/GOOG/), alright, but what about Google? Why is GameStop talking about Google? What breadcrumbs did they leave for us? So it got me thinking... + +The astronaut in the picture is clearly in space. So why the fuck does he have a beer he can’t drink? If he takes off his helmet then he's dead. BUT WHAT IF it wasn’t a beer, and instead it was a clue! It’s pointing up! What **didn’t** Google do today? It didn’t go up! So much red! + +https://preview.redd.it/r2h86libqly61.png?width=901&format=png&auto=webp&s=833206c0e6a994f2bef8ad127eeed6a4dd7e4da4 + +# Why didn't go up? + +Because [ad growth is slowing](https://www.reddit.com/r/Superstonk/ad%20growth%20is%20slowing). And everybody knows that the Asian markets are the largest source of advertisement revenue in the world. And who owns the Asian markets? ASIAN MONEY. + +# And what is ASIAN MONEY an anagram for? + +https://i.redd.it/7snwfqrrply61.gif + +That’s right. The GameStop social media team just gave us Citadel’s Achille’s Heel. They told us to stop, relax, and just trust the mayo and we’ll all be on the moon soon. + +Thank you for coming to my TEDxTalk. +I just received a voicemail today that said there was a "tax fraud pending against me" and that I should call back immediately before "I get arrested". Please be cautious as these are scams. If you **ever** have questions regarding your taxes, go to the place you filed them and start there, then go to the IRS **directly**. Pro-activity is viewed highly to the IRS and you can alert them you received a call you believe to be fake. +TL;DR: do not stop working/studying when/if you get rich through crypto (or by any other means). Set up your own business, study something you love or whatever. Just make sure your brain will keep doing some exercise and that you'll be part of some group/society. + +Seeing so many posts about when lambo, when moon etc., I see myself a few years ago discovering that I could finally hasten by \~10 years my retirement (I'm in my 60's now). Damn, was I happy about that. I could finally erase all my debt, travel without worrying about days off being discounted of my paycheck, spend lots of time with my family and buy some of the stuff I've always wanted. In \~6 months my life changed really hard, and for the better! I gave my grand kids a nice trip do Disney and paid the wedding of my youngest daughter. Suddenly everything fit perfectly. + +After 7-8 months, then, I got myself thinking like "so... is this it?". I was not happy anymore. Don't get me wrong: I wasn't *unhappy*, but I wasn't happy either. I would wake up everyday, go for a walk, pass by some bakery and buy some stuff, and get back home to surf on the web. I could of course travel to wherever I wanted, but what for? + +Friends came in asking for money and I never heard from them again. Some relatives thought I'd won the lottery and suddenly became extremely friendly and helpful, even though literally no one but my daughter and her husband were here at my wife's funeral. + +At the end, I've decided to go back to studying and finally entered college. It changed my way of perceiving the world and now I'm quite happy. I've also volunteered at some NGOs in my city and it helped me to keep my pace with society. + +So my advice is that you need to get prepared to deal with boredom. We grow up with our parents telling us to go to school, have a job, a car, a house and that this is life. But when you suddenly have the car, the house and everything else, what's left? Do something for yourself and have this in mind. + +Boredom hits hard and you need to get prepared to deal with it. + +Godspeed to you all! + +EDIT: wow, never expected so many reactions to this post! Thanks for the love you all! Will try to reply to some comments soon. + +EDIT2: My DM box is flooded with people asking for advice. I did NOT day trade, I simply held whatever I had. I was lucky to be at the right place and time to acquire cheap coins that happened to moon in 2017. + +EDIT3: People in the comments saying it’s my fault for not thinking about other aspects of life before having money. You can’t be much of a philosopher without having had the time or money to study. I had to work to eat and lived from paycheck to paycheck for a fair amount of time. All my worries were immediate. +Honestly, all I’ve been hearing this week is the bitching and moaning from MSM, Coke Rat Cramer, and the Al KAYDA obsessed Yahoo Boomer, that Ryan Cohen hasn’t shared any strategy or clear path for the business. + +And guess what? HE DOESN’T HAVE TO. + +GameStop said last Quarterly Report that they have the best investors in the world. + +Ryan Cohen talks to US. HIS INVESTORS. + +He doesn’t need to talk to MSM like he did with Chewy. He knows this. + + +I’m not selling. Poppa Cohen also knows my name since I’m DRS’d. + +I’m all in. +Senior management at multi billion tech company. Generally happy with my role but it’s an exploding industry with limited talent + lots of recruiters looking to fill roles at interesting companies (big and small). + +Given “head of” and “director” and even “vp” mean different things to different places, there’s a lot of figuring each other out on intro calls. What’s the best way you get at the comp range before wasting too much of each other’s time? + +I worked at one of the tech giants long enough to know the ranges for dir/sr dir/vp titles, so I usually work off of that reference point. If they push, I give my current comp and anticipated promotion timeline + next role comp. This feels like checkers though, I want to know who here has been playing chess. +I have a very boring strategy. I research stocks that I think will reliably move up 1%, buy at a point I'm comfortable with, then immediately make a sell order for 1% higher than my buy price. It's not sexy, and the temptation to hold or experiment is strong, but I stuck to it today and got 1.04%. + +Im not at PDT levels yet and need to wait till Wednesday to trade again, but that's time I'll spend doing more research. + +Small gains are still gains. +So you're all in the loop, **Mods** have had a chat and decided we will reach out to Next Investors and offer them an **AMA** (ask me anything) slot on the Sub. + +If we receive a response we shall let you all know. + +&#x200B; + +" *Hi, I am a Moderator on the Sub-Reddit forum* r/ASX_Bets. *We currently have a member base of over 76 thousand users who are involved in the Stock Market, specifically the XJO.* + +*Recently, you sent out a communication to your subscribers mentioning 'negative attention' your company has been receiving on various forums, including Reddit. Our sub-reddit has a particular reputation and Next Investors posts do generate a reasonable volume of traffic. One of our members wrote an incredibly in-depth series on your company some time ago and many of our members follow your movements and post opinions or results on our forum.* + +*It's not unreasonable to say that the services Next Investors offer and the manner with which you choose to operate have drawn the attention and in some cases, the Ire of our user base.* + +*We are reaching out to you and enquiring as to whether a member of your company would be open to an AMA (Ask Me Anything) post on our sub-reddit. It's an open forum style post, where a representative of Next Investors remains online for an agreed duration and answers any questions our members pose. Obviously, you are constrained by what information you are able to give on a public forum and we appreciate that, however many other companies have taken us up on this offer and have provided feedback that the experience has been a positive one.* + +*We will moderate the post according to the rules of our sub regarding abuse or harassment.* + +*If you wish to contact the Moderators or discuss this further then please do.* + +*To reach us, you are able to send us an email or log onto reddit, find our sub* r/ASX_Bets *and clink on the link in the side-bar that says ''message the Mods''. If you choose to contact us, we will keep the personal information of the user confidential (as per the Reddit rules) and the username the Next Investors Representative takes will be public and will be identified appropriately on the Sub.* + +*Contacting us on Reddit is the better option for communication if you wish to take us up on our offer.* + +*In the interests of disclosure and transparency, we will be advertising to our members that we are reaching out to you and offering the option for an AMA. It's an open invitation, you are absolutely not compelled to take us up on it at all, its simply an offer for you to have your view on our Forum.* + +*Thanks* + +*username-taken82* " + +&#x200B; + +We wait with bated breath............ + +&#x200B; + +(In reality though, all the AMA's are but a stepping stone to the ultimate prize. + +an AMA with the great Bearded Sage, Tom ''the titan'' Piotrowski) +I’m a business owner and we’re bringing in around 400k-600k profit at the moment. It’s been a crazy journey. + +However, as privileged as I am to be in this position, it has required a lot of hard work and sacrifice. I basically have no social life and work 70 hours a week. I save and invest everything I can and have no doubt I’ll have a $10m net work by the time I’m 35. + +How do you keep reminding yourself it’s worth it? + +Is there anything you actually recommend spending money on in your mid 20s to reward yourself? + +**Edit** + +Wow this got such a great response, thanks for all the positivity and great advice, couple of things to clear up + +1- I have to be vague as I am relatively well known (my personal brand) but the business is essentially an analysis firm that offers services and consulting to media companies. We currently have 2 Fortune 500 clients and many smaller businesses too. + +2 - I’m 25 and I’m happy to validate my claims with mods if they’d like, got a few accusations of lying but I have no reason to do so, happy to provide proof privately. +[Link to the full article (3 min read)](https://www.reuters.com/markets/deals/buffetts-berkshire-discloses-big-taiwan-semi-stake-2022-11-14/) Berkshire Hathaway said it bought more than $4.1 billion worth of stock in Taiwan Semiconductor Manufacturing (TSMC) in the last quarter. TSMC is one of the world’s largest chipmakers, making chips for companies like Apple, Qulacomm, and Nvidia. Shares of TSMC jumped nearly 8% on Tuesday after the news. Berkshire usually does not have a huge stake in technology, but it often prefers companies that it believes to have a competitive advantage through their size. + +**Check out** [**investorsnippets.com**](https://investorsnippets.com/) **for more bite-sized news like this straight to your inbox for free.** +I'm a 17 year old dude going into my freshman year of college next year. I've worked both in econometrics research and, to some extent, with machine learning. I initially thought I was just going to major in econ, but a double major in compsci is looking more and more intriguing. Here's my question: how fast is AI being integrated into econometrics/econ? Is doing so a bit of a dead end? Will AI take over the field at some point? + +From what I've read, the only roadblock to fusing AI and econ is incorporating causal inference into more prediction-focused AI (the economist Susan Athey seems to be the biggest proponent of this idea). What interests me more, though, and what I maybe want to pursue a PhD in, is using deep reinforcement learning to optimize policy outcomes. The basic idea is similar to what OpenAI has done to beat competitive Chess players; by viewing the economy as a game, we can run that game over and over again and eventually learn what policies lead to the best outcomes (eg: ideal tax rates). Here's a Harvard/Salesforce paper that recently did this: [https://ui.adsabs.harvard.edu/abs/2020arXiv200413332Z/abstract](https://ui.adsabs.harvard.edu/abs/2020arXiv200413332Z/abstract). Those optimization algorithms seem extremely oversimplified and not grounded in reality, though. +My mind went blank and the only thing that I could think about was losing everything I worked so hard for. I guessed on every question and I am not expecting a score that will earn me a scholarship. The question is if there is a better investment for my $50k, other than a graduate education? I need to do some soul searching to figure out if I just give it all away to an institution, or use it to better myself in another way. +I'm extremely annoyed. I feel that I've been subjected to a bait-and-switch. When she called to set up an appointment, I said "Before we do that, are you a fiduciary?" She said yes. I said "Great, I'd love to set up an appointment!" When I got there I saw a plaque on her desk saying she was a broker. I read online that a broker is NOT the same as a fiduciary. I asked her about it and she said, "Let me explain to you what a fiduciary is... blah blah blah... so I consider myself a fiduciary." + +She thinks that I, 30, should invest my inheritance in a deferred annuity for retirement. I have ~60k earmarked for retirement and the rest of the inheritance earmarked for current emergency fund and paying off current bills. + + +I see a lot of safemoon shills on every subreddit, youtube and Facebook. I just don't want to see more people falling for trash projects like these so please beware. The fake bots will already downvote this thread but I am hoping it will at least reach some actual users in here. + +Here are a few coins that I looked into that are completely scams but are widely being promoted. + +Safemoon, safemars, safegalaxy, elongate, Zepplin dao, ravenX, fox finance, moon pirate, moonrate, hungry bear. Basically any coin which says "they will give you coins for any transaction on the chain and then will burn x% more". + +The idea of naming it "Safe" "moon" should be a good enough of a red flag. Safemoon and these other coins has 1 wallet with more than 50% of the coins. You will see a hoard of fake users/profiles just trying to promote it. These coins have no utility, it is just a ponzi scheme with the entire idea being that people who come in last are gonna be bag holders and everyone below will make a portion of the bagholders investment if you bail out early before the rug pull. These people are trying hard to get you into safemoon etc. because they wanna hoard more money and they don't give a fuck about the people who are gonna be bag holders in the end. + +Do not think that lot of people are buying the coins and you are gonna be missing out on 100x gains, majority of the people posting screen shots or talking about their experience are fake profiles. + +How they try to entice you? + +1. They are going to show their profits +2. They are going to promise exchange listing (Binance, Kucoin, their own exchange) which will never come I promise you. +3. They say they are transparent because they put couple of stooges for some dogshit AMA +4. They come up with some charity cause to make you feel not guilty about being part of a ponzi scheme or play on your good nature in general. +5. They make the coin value be well below 1 dollar like ($0.0000001) so its more enticing to you to get in on, giving you hope that its going to reach 1 dollar someday LOL. + +It's mind blowing how some people play these mental gymnastics with themselves to justify their ponzi scheme. "I made 100x gains", "is it wrong for the little guy to make money", "i will put 50% of profits into legit coins". + +I don't want these shit coins to be the face of crypto for all the new comers. Stop promoting/getting into these scam coins for a quick buck, it is just gonna give crypto space a bad name. + +DYOR. +That sounds awful. It really does. But it’s true. We’ve intentionally chosen to live in a fairly modest primary home (though still in a fairly upper middle class area), but as our assets have grown, we’re realizing that there are large parts of our life we can’t really share. This is even more exaggerated with extended family or childhood relationships. + +I know others encounter this too. I see people commenting “must be nice to be rich” on posts where being “rich” isn’t even close to the main point. But I also catch myself saying things to my spouse that would sound completely tone-deaf to someone with fewer resources. + +How do you deal with the gulf between your financial situation and that of others? Does it bother you to be increasingly out of touch with people with financial struggles? +Some days I wonder if I would get paid more working for a different company. +I am happy at my job with the work I do, but would obviously love to be paid more. +Is it wrong/is there any reason why I shouldn’t shop myself around to see what else I could get? + +Thanks! + +Edit 1: thanks to everyone for your responses. I am now leaning towards thinking I will see what is available. +I do think it would be rude to apply for these jobs just to see what I’m worth and turn them down without considering them. So I will keep an open mind! +Okay let’s cut all the BS out we see on YouTube. My wife and I are 23 and have a combined income of 100k. What is a realistic way that we can own atleast 5 properties within the next 5-7 years? I keep hearing the BRRR method but I live in AZ and I don’t see many depressed homes for 50k. People like graham stephen who say you need 30 units to cash flow 50k a year. I can’t even imagine how that would be possible to be approved for so many loans with a debt to income ratio like that. + +So what’s the truth here? How can we actually get rich by doing real estate and not be on our deathbeds to see it happen ? + +Also, duplexes and triplexes are also rare out here +**Introduction** + +>*Everyone is a genius in a bull market.* + +Since 2016 and the election of Donald Trump global markets have been in a strong bull market. We got a taste of volatility and a correction in March of this year. With 2021 just around the corner and a new administration taking over the white house we could see some interesting volatility in the global markets. + +I decided to challenge myself in 2021 by going back to where I started and grow a small account of $1500 trading Canadian micro/small cap companies starting January 4, 2021. There are some rules that I will place on myself and they are as follows. + +**The Rules** + +1. Only trade Canadian Micro/Small cap companies under $5 per share. If the company trades on both a Canadian Exchange and US Exchange, I have the right to trade on either exchange. *This is because of the access to options on the US exchange and selling covered calls to reduce your adjusted cost base.* +2. All trades (entries/exits) including Take Profit and Stop Loss levels will be posted on Reddit under ***"2021 Micro Account (Post xx)"***. This will allow new and experienced traders to follow along and make the same trades or ask questions about my specific trades. +3. I will risk no more than 4% of capital on any given trade. +4. I will post monthly account statements with personal information redacted. All transactions and trades will be visible. This will keep me accountable and transparent. +5. I have the right, but not the obligation to add capital to the account. This is extremely important to growing an account. Even an extra $50 a month over the life of the account can make a substantial difference. +6. Have fun!! + +**The Account** + +I opened a Cash/Margin/Option account with Interactive Brokers and funded it with $1500 Canadian. You don't need to use Interactive Brokers to follow along, you can use your banks brokerage or a discount broker like Questrade or Interactive. I recommend using one of the two discount brokers mentioned due to cheaper fees. I don't recommend using WealthSimple Trade as they have a settlement time of 3ish days for access to capital which could hinder your entries. + +Part of growing an account faster than organic growth is the access to leverage, that's where Margin and Options come into play. If you are following along and trying to mirror my trades Margin and Options is **NOT** necessary. They are both extremely risky if you do not know how to harness their power. I will explain Margin and Options and I how I use them when and if I actually do. + +**Expectations** + +Do not expect to turn $1500 into $10,000 in a month. I will not be YOLOing in meme stocks. Most of my trades will be in stocks that you probably never heard of. My trades last anywhere from a single day to a few months or a year. My biggest focus is on risk management. + +**Disclaimer** + +*This challenge is for educational purposes only, anything said in posts or comments by myself or other participants is not to be taken as financial advice. I am not a fianacial advisor. If you plan on participating and following along do so at your own risk. Understand that there will be losses and it is your responsibility to manage them.* +Refer to my older last post regarding all the fuckery between [FTX/CITADEL](https://www.reddit.com/r/Superstonk/comments/t9vq6m/its_all_coming_together_do_not_dance/) + +>citadel logo + ftx logo fit together like two... "FTX.US hires former Citadel Securities exec to 'massively scale' its crypto exchange- May 2021" + +&#x200B; + +&#x200B; + +[FISHY TEAM FISHY ALL AROUND](https://preview.redd.it/435glwga84z81.png?width=990&format=png&auto=webp&s=3cc61d8e58e2632e208a706e92012e3ca28baed4) + +&#x200B; + +[corruption?](https://preview.redd.it/dtfqglb3z3z81.png?width=1030&format=png&auto=webp&s=89bd9cb548f5a0ade76cbbb23f5936d500f46811) + +There are tons of connections between both these companies. Now we have [Citadel & Blackrock](https://www.forbes.com/sites/michaeldelcastillo/2022/05/11/blackrock-and-citadel-deny-trading-cratering-stablecoin/) denying the rumor of the ending of UST/Terra/Luna. Then the same week FTX is now buying into Robinhood. + +BlackRock invested in USDC & would directly benefit them for Luna to fail. + +FTX has a lot of ex-citadel employees & connections along with founders + the board being tied together. Sure there is a lot more to dive into here. + +SEC Report of FTX acquisition [https://www.sec.gov/Archives/edgar/data/1783879/000114036122018827/brhc10037465\_sc13d.htm](https://www.sec.gov/Archives/edgar/data/1783879/000114036122018827/brhc10037465_sc13d.htm) + +Believe there's tons of crypto manipulation to suck out liquidity for margin calls/stock market moves + to keep longs open & feed shorts + +IF CITADEL LIQUIDATES LUNA FOR MARGIN MONEY, THEY WOULD HAVE BILLIONS MADE FROM THIS ONE PLAY. IT WAS BROKEN DOWN STEP BY STEP ON HOW TO BE DONE IN NOVEMBER OF 2021. COULD HAVE BEEN FTX BEHIND THE SCENES. NO ONE KNOWS WHO THE OPERATOR OF THE ATTACK WAS. + +BRETT HARRISON EX-CITADEL NOW FTX, MOVED TO FTX AFTER MAY 2021. WAS HEAD OF ETF TECH UNTL FEB 21... SQUEEZE TIMING??? [https://www.theblockcrypto.com/linked/104870/ftx-us-former-citadel-securities-brett-harrison-crypto-exchange](https://www.theblockcrypto.com/linked/104870/ftx-us-former-citadel-securities-brett-harrison-crypto-exchange) + +&#x200B; + +[PRESIDENT for FTX but let's see what we find...](https://preview.redd.it/bx9uhbatz3z81.png?width=1468&format=png&auto=webp&s=86285d1f5426bb47c37cfc30e5888201e4bf2429) + +&#x200B; + +[Direct connection to Citadel...and he's good with ETFs and he left head of ETF tech after the Gamestop Squeeze.... These connect, 100&#37; no doubt in my mind ](https://preview.redd.it/jqrohjrwz3z81.png?width=1148&format=png&auto=webp&s=e7956c54c0008d0d482da4fa3611f811707ef89e) + +&#x200B; + +FTX Chicago! Ken Griffin Citadel, Chicago! [https://www.bizjournals.com/chicago/inno/stories/profiles/2022/02/17/ftx-us-chicago-hq.html](https://www.bizjournals.com/chicago/inno/stories/profiles/2022/02/17/ftx-us-chicago-hq.html) + +Gamestop spiked today from $78 to $108, FTX comes in to bail out Robinhood so Citadel doesn't get brought into the light if they did it. [Read my post from yesterday, they are in panic mode.](https://www.reddit.com/r/Superstonk/comments/unpqle/memestock_basket_is_a_way_to_make_the_public/) + +DIG DEEP. MORE INFO WILL COME TO LIGHT. + +DRS. DRS. DRS. NO CELL NO SELL. NEED MORE EYES ON THIS DIGGING DEEP. + +**we've also seen an uptick in FTX talk around the public sphere, pulling in liquidity from retail through using professional athletes, ads, tv, sponsors, and stadium deals... take retail money with ads thinking crypto is the play then dumping on them... look at luna, it was considered a 20% APY safe crypto 'bank account,' now people have lost millions. evaporated overnight.** + +edit: forgot about this capital raise + +[https://www.protocol.com/bulletins/citadel-sequoia-paradigm#:\~:text=Ken%20Griffin%20is%20the%20founder,investment%20from%20Sequoia%20and%20Paradigm.&text=Sequoia%20Capital%20and%20Paradigm%20have,crypto%2C%20the%20companies%20said%20Tuesday](https://www.protocol.com/bulletins/citadel-sequoia-paradigm#:~:text=Ken%20Griffin%20is%20the%20founder,investment%20from%20Sequoia%20and%20Paradigm.&text=Sequoia%20Capital%20and%20Paradigm%20have,crypto%2C%20the%20companies%20said%20Tuesday). + +https://preview.redd.it/8quvjjgj44z81.png?width=1170&format=png&auto=webp&s=7c1e61651c21f8eb18f79444d6ce525a63c905a9 + +edit 2: + +how to buy tokenized GameStop posted today from coinbase... FTX logo! + +is it possible they tied tokenized GameStop swaps with fake naked shorts in some type of deriv or new swap creation? + +&#x200B; + +https://preview.redd.it/todbhh0j54z81.png?width=2472&format=png&auto=webp&s=65a54637f57e16699086407ea56aaa3d4c8b8d55 + +[https://www.coinbase.com/how-to-buy/gamestop-tokenized-stock-ftx](https://www.coinbase.com/how-to-buy/gamestop-tokenized-stock-ftx) + +&#x200B; + +edit 3: CEO of FTX discussing Crypto yield farming as a ponzi scheme + +[https://www.youtube.com/watch?v=C6nAxiym9oc](https://www.youtube.com/watch?v=C6nAxiym9oc) + +&#x200B; + +edit 4: + +i didnt have the karma months ago to post, but here's some more DD from my post that failed + +&#x200B; + +https://preview.redd.it/wz7xq9a474z81.png?width=2592&format=png&auto=webp&s=475c217888b28707f2866ef076ef52181f48ae98 + +can trade tokenized / synthetic shares of GME on FTX+ major ties to the DEL + +fake GME - [https://ftx.com/intl/trade/GME/USD](https://ftx.com/intl/trade/GME/USD) + +&#x200B; + +https://preview.redd.it/0hppgzk874z81.png?width=435&format=png&auto=webp&s=0ee428c6ef8e2cb99808d3b5841c20cb62b85716 + +when you click learn more about tokenized stocks heres what u get: + +Disclaimers + +1. *None of this is investment advice.* +2. *Much of the below analysis ignores any difference between equity prices on different venues, and ignores the effects of fees.  It also ignores slippage, and generally assumes that all transactions happened at theoretical prices instead.* +3. *While this does generally describe how tokenized stock trading on FTX works, it contains approximations and should not be taken as precise.* +4. *In general, FTX reserves the final right to interpretation of all actions on its platform.* +5. *This document may become out of date at some point and fail to reflect updated policies.* +6. *FTX reserves the right to restrict usage of its tokenized stock trading as it sees fit.* +7. *Users should trade tokenized stocks at their own risk.* +8. *Brokerage services with respect to tokenized stocks on FTX are provided by CM-Equity AG (CM-Equity).* +9. *Tokenized Stocks, like the rest of FTX, are not being offered to US users or other prohibited jurisdictions, potentially including Iran, Afghanistan, North Korea, Hong Kong, Singapore, and/or other jurisdictions.  Users must pass sufficient KYC checks in order to trade tokenized stocks on FTX.  For more information, see* [*here*](https://ftx.com/tokenized-equities-kyc)*.* + +**FTX has partnered with** [**CM-Equity AG**](https://cm-equity.de/en/) \[CEO **Michael Kott (unsure if anyone can find ties to citadel)\] to provide brokerage services for tokenized stock trading!** + +What exactly is traded on FTX? + +FTX itself lists tokens on the equities.  For instance, [ftx.com/trade/TSLA/USD](https://ftx.com/trade/TSLA/USD) is a market to trade tokens on Tesla stock. + +These spot tokens are backed by shares of Tesla stock custodied by CM-Equity.  They can be redeemed with CM-Equity for the underlying shares if desired.  In the future, there may be other ways to withdraw the tokens from FTX.  If you are interested in getting set up to redeem the stocks, please email [support](mailto:%20support@ftx.com). + +&#x200B; + +https://preview.redd.it/z5gpb9nc74z81.png?width=1528&format=png&auto=webp&s=f1c835b6ac2cd60ad6ef0fd23c60fc79e7adfb1c + +&#x200B; + +https://preview.redd.it/8h24ifyd74z81.png?width=1378&format=png&auto=webp&s=166a9d7553100324268c0a7dd5cd99d2c1764894 + +edit 5: + +from a dm + +"Hey I’m way too smooth brained and stoned for this but I googled SBF, clicked on his dad (Joseph Bankman), and then googled Joseph Bankman Ken Griffin… first result is a hedge fund doc from 2008. Both of their names show up OVER 60 TIMES!!" + +[https://www.govinfo.gov/content/pkg/CHRG-110hhrg56582/html/CHRG-110hhrg56582.htm](https://www.govinfo.gov/content/pkg/CHRG-110hhrg56582/html/CHRG-110hhrg56582.htm) + +&#x200B; + +edit 6: + +high chance jump crypto is dead from luna collapse & FTX came in to bail out RH crypto + +https://preview.redd.it/azpljxgxo5z81.png?width=828&format=png&auto=webp&s=2eccbb583633efbc7435f45d236a4bc279302c54 + +edit 7: + +more on citadel raises for crypto [https://www.reddit.com/r/Superstonk/comments/s3yhej/citadel\_securities\_partnership\_with\_sequoia/](https://www.reddit.com/r/Superstonk/comments/s3yhej/citadel_securities_partnership_with_sequoia/) +I'm gonna parse this by saying the folliowing, while I am a degenerate, I am not an addict. I just like to bet on sports and play Pot Limit Omaha. I'm not selling my kidneys so I can bet on the Super Bowl or anything. I also was in on cryptos pretty early and made enough money that I can make this gamble. I went all in on Ethereum around the time it was in the $10-15 range, hit it big and now I'm cashed in some of my profits to be a fucking degenerate. + +I think all the people - even the well spoken ones, who profess that their coin of choice is undervalued don't really understand what their talking about. I think the entire market is a bubble but I'm willing to bet that this bubble and ride it to the moon or die trying. + +Strategy: Use Random.org's RNG to generate a number from 1-50 3 times and 51-100 once to pick the fourth coin. Reason why I did this is because I'm reasonably confident that if I got 4 really high numbers, I'd end up with 4 bullshit coins and lose the entire investment. I'm gambling but I'm not looking to purposely lose money. The only coins excluded from this was Tether and any coin I already had money in (Ethereum, Factom, OMG, QRL). Buy and hold for a year. See how I do. That's it. + +The coins I picked ended up being: + +* **Neo** - I've heard of this before. Used to be Antshares. That's all I know. Bought some today. +* **Ark** - Yo, this coin is pretty much made for holding, I picked it up and voted for a delegate already and I'm earning Ark! +* **Komodo** - This is basically another privacy coin but with smart contracts right? Dunno why people wouldn't just buy Monero over this but it's probably not terrible. +* And the 4th coin was....Nav Coin. I know nothing about it, will read up on it tomorrow. + +Honestly, I'm glad I didn't get some shady sounding shit on the last one. I'll be back in a year (December 1st, 2018) to update you guys on my progress. + +Now as for the logic behind this (aside from pure degeneracy), I'm gonna run the RNG again using 5 coins on the Top 100 again but from December of 2016. + +Here's what I got: + +* Ethereum Classic - $0.78 at the time, now $32.55 +* Qwark - $0.02, now $0.16 +* VeriCoin - $0.025, now $0.51 +* Dnotes - $0.006, now $0.014 +* Ripple - $0.0065, now $0.25 + +If you had bet $1000 on each coin back on December 2016, your portfolio would now be worth.....$119,194.86. Now it IS possible to pick "good" coins and probably beat that return, for example if you just threw $5000 into Ethereum instead in 2016, you'd have around $300,000 now. But that's not really the point of this exercise, I just wanna see if a literal dartboard could make money here. You guys can run this game of Crypto Roulette yourselves with your own RNG if you want. + +Or if you want, use an RNG from to pick 5 coins from the 2016 Top 100 and see how long it takes you to lose money. + +The big risk here? Well, from 2015 to 2016, a good chunk of the Top 100 lost money. I'm basically banking on two things: The market continues to follow the general direction of Bitcoin and two, that this won't be another 2015. No shilling, no pretending I think all these coins are undervalued. Just throwing money at a board and seeing what works. +https://www.theguardian.com/us-news/2021/jun/03/biden-bans-us-investment-chinese-military-tech-surveillance + +Joe Biden has signed an executive order that bans American entities from investing in dozens of Chinese companies with alleged ties to defense or surveillance technology sectors. + +In a move that his administration says will expand the scope of a legally flawed Trump-era order, the US treasury will enforce and update on a “rolling basis” the new ban list of about 59 companies. + +It also bars buying or selling publicly traded securities in target companies, and replaces an earlier list from the defense department, senior administration officials told reporters. + + +Chips with everything: how one Taiwanese company drives the world economy +Read more +The order prevents US investment from supporting the Chinese military-industrial complex, as well as military, intelligence, and security research and development programs, Biden said in the order. + +“In addition, I find that the use of Chinese surveillance technology outside [China] and the development or use of Chinese surveillance technology to facilitate repression or serious human rights abuse constitute unusual and extraordinary threats,” Biden said. + +A White House fact sheet on the order said the policy would take effect for those companies listed on 2 August. + +Major Chinese firms included on the previous defense department list were also placed on the updated list, including Aviation Industry Corp of China (AVIC), China Mobile Communications Group, China National Offshore Oil Corp (CNOOC), Hangzhou Hikvision Digital Technology, Huawei Technologies and Semiconductor Manufacturing International Corp (SMIC). + +SMIC is key to China’s national drive to boost its domestic chip sector. + +“We fully expect that in the months ahead … we’ll be adding additional companies to the new executive order’s restrictions,” one of the senior officials said. + +A second official told reporters that the inclusion of Chinese surveillance technology companies expanded the scope of the Trump administration’s initial order last year, which the White House argues was carelessly drafted, leaving it open to court challenges. + +The president has been reviewing a number of aspects of US policy toward China, and his administration had extended a deadline for implementation set by Donald Trump’s order while it crafted its new policy framework. + + +Apple uses more suppliers from China than Taiwan for first time, data shows +Read more +The move is part of Biden’s broader series of steps to counter China, including reinforcing US alliances and pursuing large domestic investments to bolster American economic competitiveness, amid increasingly sour relations between the world’s two most powerful countries. + +Biden’s Indo-Pacific policy coordinator, Kurt Campbell, said last month that a period of engagement with China had come to an end and that the dominant paradigm in bilateral ties going forward would be one of competition. + +Senior officials said the treasury would give guidance later on what the scope of surveillance technology means, including whether companies are facilitating “repression or serious human rights abuses”. + +“We really want to make sure that any future prohibitions are on legally solid ground. So, our first listings really reflect that,” a second senior administration official said. + +Advertisement + +Investors would have time to “unwind” investments, a third official said. + +The new list provided few surprises for investors looking to see if they need to unload even more Chinese stocks and bonds. + +But some previously identified companies, such as Commercial Aircraft Corp of China (COMAC), which is spearheading Chinese efforts to compete with Boeing and Airbus, as well as two companies that had challenged the ban in court, Gowin Semiconductor Corp and Luokung Technology Corp, were not included. + +In May, a judge signed an order removing the designation on Chinese mobile phone maker Xiaomi, which was among the more high-profile Chinese technology companies that the Trump administration targeted for alleged ties to China’s military. +Congratulations to all the cypto bros in this sub who were pushing these high-yield schemes and claiming they were perfectly safe investments. Great job ruining the lives of others! + +On a serious note, I think discussing "crypto" should be banned on r/personalfinance altogether. +Has anyone noticed that pretty much *every single important financial dapp* gets built upon Ethereum, including two stable coin announcements just today ([[1]](https://www.forbes.com/sites/astanley/2018/09/10/new-york-dfs-greenlights-paxos-ethereum-based-stablecoin/#5bee2f21520c), [[2]](https://www.forbes.com/sites/michaeldelcastillo/2018/09/07/winklevoss-brothers-launch-ethereum-token-backed-by-us-dollars/#34ef0247e1f6))? Name another network that comes even close. The "competition" can't touch this kind of network effect, and the value of that effect is only going to compound over time (especially as dapps become interoperable with one another), even through this bear market. While some investors are panicking, the developers keep building. Ethereum will decentralize many existing forms of economic activity, and more importantly, create entirely new forms of economic activity that were never before possible. + +That activity is hardly limited to stable coins- although Ethereum boasts the first truly decentralized stable coin (Maker Dai). It also now hosts tokenized gold (Digix), decentralized exchanges (0x-powered, etc.), fungible asset tokens (almost all ERC-20 / ICO tokens), all sorts of non-fungible property tokens (CryptoKitties, Major League Baseball collectibles, Gods Unchained and Zombie Battleground collectible gaming cards), etc. The list goes on, and on. And it's literally just getting started. + +*We're at a (temporary) point where a lot of people don't really understand Ethereum, ETH, or its true value proposition.* Some of those people have bought and since sold their ETH. Probably because it's a lot more complicated (and useful) than most projects in this space, with a narrative that may not be easy to understand. "Digital gold" is easy to understand, so is "privacy coin," heck, even "bank settlement coin" (even though XRP has no shot at delivering this, in my opinion). + +But the "world's shared computer" is hard to understand. And what are "trust machines" and "asset ledgers"? What the hell is a "smart contract"? And isn't "digital oil" you convert into "gas" something you consume and burn that is bad for the environment- why hold it? + +*We haven't done a great job with the branding of this thing,* probably because this idea is so revolutionary, it's hard to grasp and explain. And perhaps because so many good people in this community are focused on actually building stuff, rather than trying to hype it. Meanwhile in other crypto communities, *all you have* are people working to create hype, because the assets they're promoting serve no purpose. + +And that's fine, but after these fires have burned out, some of us will work to retake the narrative around ETH from *Other Coin Maximalists* who have attempted to falsely reduce ETH's value proposition to being a "simple utility shitcoin" and continue to wage what I can only call a coordinated FUD campaign. *And they only feel emboldened to do so because they see Ethereum as a legitimate threat, and are frightened by what this increased economic activity on Ethereum will mean for their own coins.* + +For those that don't get it, [ETH could be very valuable in the future and the keystone to an entire decentralized economy,](https://www.reddit.com/r/ethtrader/comments/7mwbbc/will_proof_of_stake_turn_eth_into_the_best_store/) especially as the network transitions to Proof of Stake, where the price of Ether will be directly correlated with Ethereum network security. And with supply inflation that is close to zero or possibly even negative, it *could possibly become the world's best decentralized store of value*. Seeing these financial dapps continue to build upon Ethereum, even in the depths of this bear market only reinforces one important point to me: + +***Ether (ETH) will become the native currency of the internet- it's going to power Web 3.0, and it will be the central pillar of an entirely new, decentralized economy that has never been possible before- all built on top of the Ethereum network.*** + +The next cycle in crypto will show us just how important this innovation will be, even beyond ICO-fundraising, which in of itself was an important use case that was never before possible at scale. Of course there are risks that this may not happen, but name one project that has a better shot at it than Ethereum? I think the world ~~wants~~ needs this type of decentralized finance, and in the coming years, you will watch Ethereum deliver it. + +Call this "hopium" if you want, but I'll call it *focusing on fundamentals* in a crypto-sphere that seems almost entirely devoid of all fundamentals, save for a couple of projects. Run for the exits if you need to, selling off your long term holdings and opening your shorts, but in your panic / greed, I'll be buying your cheap ETH once the dust starts to settle. For those of you who chose to hold through this, remember to keep the long term picture in mind- you will likely be rewarded as a new day of decentralized finance dawns. +I was looking at this sub at the end of the year and there was this post talking about your most valued splurges this year and that got me wondering, what are some items or services that no mater how fat you are, you don’t see additional value in going with a luxury brand or service? +What do you guys think? Is Nokia hitting 20 or is it going full bear? Is this hype stock trend already over? Looking for different options (preferred interesting ones that come from facts) +The realtor has been telling me the property owner is a restaurant owner with no legs looking to get out of the rental business. + +I just found out that the owner of the LLC the property is owned in is her husband. + +Is this a conflict of interest ? I just don't understand why she told me it was a legless resturant owner. + +I met her husband and was told he was the home owners handyman. +Basically I was inquiring on voting procedures and whether my shares had been converted to cash. After he informed me of my details I asked him if Fidelity planned to update their UI in response to all us new poop slingers joining Fidelity. +He went onto explain how fidelity has seen a migration of 8-10 million robinhood users with Fidelity having 80 million customers to satisfy prior. He then went on to say that Fidelity focuses on quality over quantity as I mouthed out “holy shit” at the prospect of 10 new million robin hood users on Fidelity. + +Let’s be super conservative and assume 6 million of these 8-10million new users hold GME. +Let’s now say there is an average of 5 shares between 6 million people - that is 30 million shares of GME on ONE BROKER ALONE. +(Cough cough there are many other brokers with many gme holders) + +After asking about my control number he also told me to check back next week as there are unprecedented amount of shares to locate for this process. +Smooth brain 🦍 out +HODL ME + +EDIT: He also told me to call GameStop? And or check their website for details regarding your vote so keep your eyes peeled, don’t click on any links anyone sends you, and be dope to one another. + +For those saying show me proof - I welcome your healthy skepticism, but as this was a phone call I I wasn’t expecting to happen I did not record the call. Only way to investigate is if more apes inquire from other reps. If The fidelity rep told me these figures then I’m assuming other reps should say the same. But in any case I’m not the one providing the numbers I just came here when I heard them. +It’s important to address all claims that come through though so no harm no foul 💪🏾 + +Thank you for all the awards you beautiful apes, I only shared this interaction because I believed it would confirm our bias so hard as we deserve 🙌🏽💎 +Love to see the love and sharing of information +**What is Sonar?** + +The Sonar Platform is a multi-chain analytical tool, which presents its users with an interface that tracks social network/influencer trends, vets contract code, price charts, creates price action alerts, executes orders, as well as feature other innovative and unique solutions, including the implementation of artificial intelligence for investments. + +The Sonar Platform intends to serve as a crypto analysis one-stop-shop and provides users with all the necessary tools and information need to make smart investment choices, increase profitable trading and reduce the likelihood of traders falling for rugpulls and honeypots. + +Sonar $PING had a successful TechRate Audit, CertiK audit and is listed on CMC, CG and Blockfolio. The Core Team is fully doxed, KYC’d have based the entire business around full transparency. The Q3 roadmap has been completed 2 months ahead of time and Q4 targets are already in development. + +**What is new?** + +SONAR has just announced a Uniswap listing! ePing will be going LIVE for trading on Uniswap Oct 14th at 6pm UTC. ePing is the ETH equivalent to PING, same tokenomics, reflections for holders, only on Ethereum! + +Not only that, Sonar's custom built BSC-ETH bridge goes live just before the Uniswap listing, enabling PING holders to migrate their tokens over to the ETH side. + +**Collab time!** + +Sonar has also recently announced a technical collaboration with Chainlink in order to develop new analytical tools on the blockchain! The Chainlink community will be hosting Sonar on the Chainlink Twitter page for a video AMA at 2pm UTC. + +Some major marketing collaborations are in the work which soon will be announced, be prepared to be mind blown! + +**What's in progress:** + +🔥 Incorporation in process +📣 Followed by CZ on Twitter +⭐️ Eth-bridge live Oct 14th! +📊 Charting tool in 1 months +🔓 Sonar Wallet in 1.5 months +📰 New press page +⚒ Hiring page +📚 Blockchain Academy + +**What's been done:** + +✅ Listing on Uniswap Oct 14th 6pm UTC +✅ Listed on Gate.io +✅ Enhanced marketing strategy initiated +✅ Doxxed Core Team +✅ Real Use Case (Utility Token) +✅ Clear Roadmap and Whitepaper on website +✅ Techrate audit complete +✅ CertiK audit complete +✅ Long term partnership with CryptoMonks, Cryptoken Media, Bart Baker and more coming +✅ Listed on CMC +✅ Listed on CG +✅ Doxxed Founders Team +✅ Real Use Case (Utility alt coin) +✅ Q3 Roadmap complete in 1 month + +Transaction taxes: + +💰 6% tax to Liquidity Pool to create a stable price floor +🤑 2% tax to Redistribution +👨‍🔬 1% tax to Sonar Innovation Lab Wallet +👨‍💻 1% tax to Sonar Marketing and Development Wallet + +**Socials:** + +✉️ Telegram: [https://www.t.me/sonar\_official](https://www.t.me/sonar_official) +📷Instagram: [https://www.instagram.com/sonar\_token/](https://www.instagram.com/sonar_token/) +🐦Twitter: [https://twitter.com/SonarToken](https://twitter.com/SonarToken) +⭕️Reddit: [https://www.reddit.com/r/sonarplatform](https://www.reddit.com/r/sonarplatform) +🎮Discord: [https://www.discord.gg/7kuNHxZeCP](https://www.discord.gg/7kuNHxZeCP) +🎥Tiktok: [https://www.vt.tiktok.com/ZSJ9oBTDo/](https://www.vt.tiktok.com/ZSJ9oBTDo/) +📽Youtube: [https://www.youtube.com/channel/UCixkuolcOuQdEnn80E-tyew](https://www.youtube.com/channel/UCixkuolcOuQdEnn80E-tyew) +👫Facebook: [https://www.facebook.com/Sonar-Token-107371881570425](https://www.facebook.com/Sonar-Token-107371881570425) +🌐 Website: [https://www.sonarplatform.io](https://www.sonarplatform.io/) +https://www.marketwatch.com/story/no-rent-was-paid-in-april-by-nearly-a-third-of-american-renters-2020-04-08?link=MW_latest_news + +Only the first week was studied so the number may improve but given all the circumstances this will likely be a continuing trend over the next month or two + +> Only 69% of tenants paid any of their rent between April 1 and 5, compared with 81% in the first week of March and 82% in April 2019, the data show. +Everyone knows about "broken" taxi meters or "pick your monthly payment" auto financing, but as I've gotten fatter I find myself getting ripped off in more sophisticated and uncommon ways. + +An old rule I used was "if you can't spot the sucker in a deal, you're probably the sucker". But once I got fatter, the new rule I switched to was "if someone is trying to convince you that *someone else in the deal is the sucker*, you're probably the sucker". + +For example, as a reasonably successful person in tech, and it's common to get pitched on investing money into a venture fund. But unlike high fee financial advisors, who depend on you not knowing any better, these offers are tailored specifically to what you know and your biases: "I know you've seen the Kauffman foundation data showing *average* VC returns are lower than S&P500, but that includes a bunch of dumb money. *You* aren't dumb money - you're a successful business leader. Take your knowledge and find more companies like yours! Did we mention we have the guy who started AWS? You worked at AWS right?". + +Another good one I saw recently was from Jewel to Tony Hsieh - “When you look around and realize that every single person around you is on your payroll, then you are in trouble". I'd take that even further: if everyone around you is getting paid to be there except you, you are in trouble. + +What rules or red flags you use to avoid getting ripped off? +The topic of passing money down to younger generations often comes up in subreddits like /r/FatFire and /r/financialindependence, and a lot of the time there is understandable concern surrounding how it should properly be done. It is HARD to give a kid or a young adult hundreds of thousands or millions of dollars without it affecting them in some way, usually not for the better. I hope to offer some perspective as someone that was the beneficiary of a trust in early adulthood. + +**Some background**: I grew up in a regular, middle class family. There was never ANY expectation that I would receive any substantial amount of money any time soon. Our gross household income throughout my childhood went from about $50k a year (when I was born) to around $130k a year towards my senior year in high school. A reasonably comfortable salary for a coastal HCOL city, but nothing luxurious. I learned that I was beneficiary of a trust set up by my grandmother in college. Before that, there was zero indication EVER that I would receive anything from anyone. I strongly believe that I would not be where I am today if I grew up knowing I had a pot of gold waiting for me in my 20s. + +For my entire life, my parents owned cars that were decades old and they still drive the same 2001 and 2009 Hondas. Luxury items and status symbols were tacky — buying good quality items and maintaining them for as long as you could was the prevailing philosophy. Fiscal restraint was a large part of my childhood, and I learned from a young age the importance of respecting the value of money. The value of hard work, living below your means, and succeeding academically/professionally was a big point of emphasis. Most of these values were taught by example and not explicitly stated. Working hard was always treated as the ultimate virtue and what we always received the most amount of praise/positive reinforcement for from our parents. + +I worked hard in high school and got accepted into a top engineering university. It was a rigorous program, and I struggled a lot. There were many weeks studying/working 12 hour days, 7 days a week. It was sophomore year of university that I was told by my parents I had been left “some money” from a deceased grandparent. It turned out that was a low seven figure amount. I think for a lot of people, this might have been the point at which they quit and switched to an easier field of study. After all — why keep suffering in engineering when you are financially set? I’d be completely lying if I said these thoughts didn’t occasionally make an appearance at 3 am while studying for a series of back-to-back engineering exams. But I always knew that I could never drop out or switch to something easier. I had made “hard working engineering student at top tier university” such an integral part of my identity and sense of worth that quitting would entail giving that up and being completely lost. It would entail feeling a sense of shame knowing that I gave up on something that my parents worked so hard for me to have. My sense of worth was largely derived from being the kind of person that worked as hard as they could for everything they had, and it gave me a lot of personal pride. Maybe this strong link between work and self worth wasn’t the most healthy life philosophy, but it prevented me (and my sister) from becoming the stereotypical trust fund kids — drifting around with no purpose, no ability to commit to anything, and no tangible accomplishments. I trudged through the rest of university, graduated, then found a pretty decent job. + +Now, I work in tech, and my sister is in a STEM PhD program at a great university. Neither of us have gone on crazy spending binges or used the money in really any capacity. The only difference it makes in my life is that the quarterly dividends I receive allow me to easily max out my tax advantaged savings accounts — something that I might have had a lot more difficulty doing without a cushion. + +It might be harder to create that connection between working hard and money if you raise your kids in a /r/FatFire way. Much of the wealth that many here have made will have come prior to kids, and many of the sacrifices will have been made before your kids have been born. SO much of my philosophy was developed by seeing my parents work, seeing the sacrifices they had to make, and having this feeling of indebtedness — knowing that they did all that they did in order to ensure my sister and I always had the resources we needed to excel. As a result, I feel a lot of responsibility to take care of the money that was given to me — I know that someone worked incredibly hard to build up that wealth. To spend it frivolously would be to discredit that work. + +I know many rich kids who were taught to “understand the value of education” without understanding the value of hard work. They ended up majoring in Art History or French Literature and now live off of their parents. I think in their case, far too much emphasis was placed on “get an education” and the value of hard work was not stressed enough. Many of them never saw it from their parents, so why should they strive for it themselves? Many of them now find themselves in a position where they are “too good” to work a lower wage job, but too unqualified to get any decently compensated job in the real world. Hence they live a lifestyle completely subsidized by their parents, and none seem particularly happy. Again, emphasis on the value and dignity of work — no matter what the nature of that work is — is very important. + +I am VERY fortunate that I had no clue I was set to receive a decent chunk of money as a young adult. If I had grown up my entire life thinking I had something waiting in store for me, I don’t think I would have developed any work ethic at all. I wouldn't have gone to a great university, I definitely wouldn’t have majored in engineering, and I wouldn’t have the level of satisfaction I have now for accomplishing everything I have. **It would have stunted my personal growth in an unimaginable way.** + +Despite all this, I still think there is tremendous value in sharing your family’s wealth with your children before you die. Preferably while they are still young enough that it makes a substantial difference. + +If I had to give some recommendations to parents of future “trust fund kids”: + +* Instill strong values, work ethic, emphasize the virtue of working hard and respecting money. SHOW them the connection between money and work, and that sometimes sacrifices have to be made. +* Keep this information from your kid until they (at least) graduate University. Never give any indication that they will be receiving any parental assistance, aside from college tuition. Preferably withhold this information until they are self sufficient adults + +*If you don’t demonstrate the proper values to kids while raising them, it doesn’t matter how many requirements, stipulations or conditions you place on the disbursement of the trust.* + +*You can draft the most sophisticated, elegant, thoughtful trust and it will still sap every last bit of motivation from your kid if they are not raised with the proper values.* You might be able to prevent them from spending it all at once, or from blowing it all on drugs, but it will never be a net positive for them unless you provide the proper parenting. + +I am still just a young adult. I can't know the full extent to which this money has affected me, or will affect me in the future. I am grateful everyday for it, but sometimes I still wonder whether I would be more motivated and ambitious if I didn’t have it. Would I have negotiated higher pay at my job? Studied harder and gotten into a FAANG company? + +I won’t pretend to know more about parenting than anyone else here. Your main takeaway after reading this should probably be something that was already obvious from the start — that a trust alone will not be enough to prevent your money from damaging your child’s ambition or stunting their personal growth. Even a masterfully crafted trust can’t replace good parenting. + +So find something that works. In the case of my family — hard work (and academic/professional success) was made a virtue and deeply connected to our own personal self worth and identity. This might not be the healthiest perspective — but it kept two young adults with access to a lot of funds grounded and relatively successful. +There are plans to open up the payment infrastructure space, which is driven primarily by NPCI now, to private players. + +[https://government.economictimes.indiatimes.com/news/digital-payments/six-consortiums-apply-to-rbi-for-nue-licence-for-retail-payments/81816645](https://government.economictimes.indiatimes.com/news/digital-payments/six-consortiums-apply-to-rbi-for-nue-licence-for-retail-payments/81816645) + +The main paradigm shift in this mode is from publicly owned and non-profit infrastructure to privately owned for-profit infrastructure. + +It's obvious that the digital transaction costs might go up when that happens. + +In a country where majority of the public still needs encouragement and incentives to go digital, the moment there is a disincentive (cost) on digital means, it's going to dampen the rate of progress in digital payments space. Often we get to read about the growth rate of digital transactions and it looks good, but as a percentage of total volume it's likely to be still at a level where we can't afford to disincentivize digital transactions in any way. + +BTW not posting a wikipedia link that compares the % volume of digital transactions by country as the data is a bit dated. If someone can find such report, please do share. (Preferably the % of value of digital transactions and not just the count.) + +Do express your views. +Good morning San Diago, + +I am Rensole, + +Do you smell that? + +\*insert flashy intro card\* + +&#x200B; + +https://preview.redd.it/pu1x83urghu61.png?width=680&format=png&auto=webp&s=e50cfdd6c235360be0e3c4612865789248bfb256 + +# A lot of USA banks closed today + +It seems that today some banks are closed due to them apparently being afraid of "civil unrest". + +The part that gives food for thought is that they didn't seem to be closed during the latest version of civil unrest, so was the damage so big last time they felt like they had to protect them this time? + +Or are they planning on giving very bad news and expect civil unrest because of that? + +I can vividly remember them doing something like this in 2008, we were told that we could not take out money from our accounts so they closed a lot of banks and boarded them up for this reason, I'm not saying it's the same reason now, it just makes me think back to it. as civil unrest due to the trial seems to me that's just an excuse. + +[https://www.reddit.com/r/Superstonk/comments/mv7kf1/boa\_actively\_boarding\_up\_at\_10pm\_chase\_not/](https://www.reddit.com/r/Superstonk/comments/mv7kf1/boa_actively_boarding_up_at_10pm_chase_not/) + +This is a post of BOA, another member here also said they they would be shutting their west coast branches today, with last minute wording and no substance as to why. (this person has proven their identity to the mods). + +&#x200B; + +https://preview.redd.it/hqql0bhynhu61.png?width=598&format=png&auto=webp&s=c09f0c5ed7d1ed3983c49331ab1b6065959c7837 + +Union bank seems to be closing its locations as well + +&#x200B; + +https://preview.redd.it/6z8g32w5ohu61.png?width=640&format=png&auto=webp&s=f4b543c2ca8cf3ea0d10c612ce242698840c5891 + +Bank of America + +&#x200B; + +**Addendum;** u/Cuchulain72 just pointed out to me: + +"Banks were closed all year long at different points in time, due to civil unrest. Since you do not live in the US I dont expect you to understand. It is really really irresponsible to link this to gme. When multiple cities were looted last year, majority of businesses were shuttered and or boarded up." + +&#x200B; + +This was not something I knew when writing this so I'm sorry if I messed up. + +&#x200B; + +https://preview.redd.it/p507f8g6jhu61.jpg?width=640&format=pjpg&auto=webp&s=94080b06d3553b9fab780a7fed6622ccc845f1a1 + +# SR-DTC-2021-004, The DTCC and J.P Morgan. + +No tldr, just read ;) + +[https://www.reddit.com/r/Superstonk/comments/mur8bz/srdtc2021004\_the\_dtcc\_and\_jp\_morgan\_theyre/](https://www.reddit.com/r/Superstonk/comments/mur8bz/srdtc2021004_the_dtcc_and_jp_morgan_theyre/) + +And the new DTC-2021-007 + +[https://www.reddit.com/r/Superstonk/comments/muzbp3/new\_dtc\_rule\_came\_out\_dtc2021007/](https://www.reddit.com/r/Superstonk/comments/muzbp3/new_dtc_rule_came_out_dtc2021007/) + +&#x200B; + +https://preview.redd.it/8xn1uhtzjhu61.jpg?width=502&format=pjpg&auto=webp&s=96ddcb03bf58b3518fb08ec2f090832126970156 + +# Blackrock + +thanks goes to u/valthonis_surion for finding this + +We aim to vote at 100% of meetings where our clients have given us authority to vote their shares, and therefore vote at approximately 16,000 shareholder meetings in approximately 85 markets each year. With regards to non-U.S. holdings, generally we estimate that we vote successfully at approximately 90% of meetings. Of the remaining, 8% are not voted due to shareblocking and 2% are not voted due to either the fund’s leverage, impediments such as ballots received post cut-off date or post meeting date, or other restrictions like in-person attendance or power of attorney being required in order to vote. + +Sounds to me that someone (blackrock) is ready to play. + +[https://www.reddit.com/r/Superstonk/comments/musig6/blackrock\_and\_share\_recall\_for\_voting\_we\_aim\_to/](https://www.reddit.com/r/Superstonk/comments/musig6/blackrock_and_share_recall_for_voting_we_aim_to/) + +(Also Vanguard seems to have confirmed that the proxy materials will be sent out the first week of May [https://www.reddit.com/r/Superstonk/comments/mut21d/vanguard\_told\_me\_proxy\_materials\_will\_be\_sent\_out/](https://www.reddit.com/r/Superstonk/comments/mut21d/vanguard_told_me_proxy_materials_will_be_sent_out/)) + +this one also connects nicely (IMO) to this one + +[https://www.reddit.com/r/Superstonk/comments/mu9xed/why\_were\_still\_trading\_sideways\_and\_why\_we\_havent/?utm\_medium=android\_app&utm\_source=share](https://www.reddit.com/r/Superstonk/comments/mu9xed/why_were_still_trading_sideways_and_why_we_havent/?utm_medium=android_app&utm_source=share) + +&#x200B; + +https://preview.redd.it/gdy4oi0nkhu61.png?width=640&format=png&auto=webp&s=1cc361f88476e0db6c32903f7f656163f9f36372 + +this pic eum... wow? + +Seems like the Margin debt has increased immensely since 2020, like a fucking rocket and bounced so high that we may be seeing a lot of margin calls this year. again could be nothing but I've found that all these things usually don't "just happen" and there is a correlation between all. + +[just like Credit Suise halts trading of one of its star traders](https://www.reddit.com/r/Superstonk/comments/muv6a8/here_you_go_getting_around_the_pay_wall/) due to risks. + +Also kindof harkens back to this idea + +[https://www.reddit.com/r/Superstonk/comments/mv740t/january\_22\_february\_19\_march\_5\_april\_16\_the\_only/](https://www.reddit.com/r/Superstonk/comments/mv740t/january_22_february_19_march_5_april_16_the_only/) + +which in turn works with this: [https://www.reddit.com/r/Superstonk/comments/mv2j11/again\_no\_large\_block\_purchases\_of\_deep\_itm\_calls/](https://www.reddit.com/r/Superstonk/comments/mv2j11/again_no_large_block_purchases_of_deep_itm_calls/) + +No large blocks purchased anymore so... I have no idea what this means but what I do know is that it's weird to say the least. + +&#x200B; + +https://preview.redd.it/9lgtjkrbmhu61.jpg?width=667&format=pjpg&auto=webp&s=be2222fe31d216a0c0d2dd2fe02ed4c719c2deff + +# George Sherman + +Seems boy George here can't catch a break, it seems that this dude can't catch a break, he had to forfeit his bonus. + +[https://gamestop.gcs-web.com/sec-filings/sec-filing/4/0001326380-21-000049](https://gamestop.gcs-web.com/sec-filings/sec-filing/4/0001326380-21-000049) + +**Addendum:** + + code D for disposed of & not A for acquired and the disposition price is 0$ + +&#x200B; + +# As for DD + +\- 2000 character minimum on DD/Possible DD Flair + +\- otherwise changes to Discussion flair + +\- 250 character minimum for all text post bodies - no more empty body spam posts. + +Must have content."Your post was removed because it did not have enough text. Please use at least 250 characters. + +[https://www.reddit.com/r/Superstonk/wiki/index/announcements](https://www.reddit.com/r/Superstonk/wiki/index/announcements) that explains it actually + +&#x200B; + +https://preview.redd.it/ezo68vblohu61.png?width=554&format=png&auto=webp&s=95e756644628671a0ab7c5becb53537e0697044b + +# 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; + +&#x200B; + +https://preview.redd.it/0guz7dboohu61.png?width=400&format=png&auto=webp&s=fcf405c63b7e286e464a58a2d59db92c75f052f4 + +Remember none of this is financial advice, I'm so retarded I'm not allowed to go to the zoo 'cause they'll put me in the cage with the rest of my ape brothers. + +If anything happens throughout the day I will be adding it here. + +backups: + +[https://gmebackup.tumblr.com/](https://gmebackup.tumblr.com/) + +[https://twitter.com/rensole](https://twitter.com/rensole) + +[https://twitter.com/HeyItsPixel1](https://twitter.com/HeyItsPixel1) + +[https://twitter.com/warden\_elite](https://twitter.com/warden_elite) + +[https://twitter.com/RedChessQueen99](https://twitter.com/RedChessQueen99) + +And I'll be posting updates as they happen here: +I'm going to be starting my first job soon and I was wondering how much to budget relative to income for expensive convenience and lifestyle stuff like car, phone, etc. + +I see a lot of my classmates buying phones worth their months salary and it just doesn't sit well with me. + +What are some budgeting rules of thumb that you follow to decide your budget for these items? For example, I saw another thread which said they follow a 50% of salary for on-road value of whichever car they purchase. + + +Just to clarify, I'm already aware of the 50-30-20 rule and all but I'd love to know how to set a good rule of thumb for myself when deciding how expensive/cheap I want the stuff I buy to be. +What is the point of having a list price and secret offers and such. why not just list every house as an online auction? Wouldn't that net the highest price and establish the fair market value. Wouldn't that make agents even further obsolete? +EDIT UP FRONT: + +Someone called the Reddit suicide mods and they’ve been in touch. Whoever that was. I nearly died laughing. Well played. + +Some really great comments here but for the next year I’m buy and hold in order to same my time, effort, money, and anxiety. + +I’ll keep a small pot for options. + +What a great community (sprinkled with some patronising traders - you can always tell who literally hasn’t got a clue about trading from how patronising they are) + +THE POST: + +RIP 2021 profits, and we're only 2 weeks from completing the year. + +If I'd cashed out at the beginning of this month, I'd have been 20% up. + +But now. I. Am. Fucked. + +Greed AND inexperience. The perfect combo with an anger and desperation shake. + +You can literally feel the self-loathing oozing through this post. + +EDIT 1: + +biggest losers this year: + +GRWG -$2200 (bought shares at $36) +SOFI -$1600 (shares at 18) +AMD - $2000 (shares at 147) +CRSR -$1400 (shares at 36) + +Strategically, I’ve bee railed whenever I go long on shares. Ive done well out of theta in general. + +If anyone wants to give me their strategy then fine. +Literally zero experience with stocks, but the confidence in these front page posts is overwhelming. + +Bought them on Revolut in Ireland. Will buy 3 more before Xmas if this MOASS doesn't happen before then. No idea if there is anything else that I need to do. + +To the moon? + +Edit: Ook ook, retards. Diamond hands. + +Edit 2.0: When I say "convinced" I mean that the collection of information collated by this, and other subs, provided me with the ability to make a well informed financial decision. +My father passed away in 2003 and I finally saved enough money to buy him a headstone. My mother wasn’t able to afford one when he passed and we ended up having a nameless grave. I feel like he is finally put to rest. + +Edit: Thank you everyone for your very kind and heartfelt responses. My heart goes out to everyone who is in a similar situation. +[Article](https://www.google.com/amp/s/wap.business-standard.com/article-amp/markets/sebi-tweaks-mf-compensation-circular-ahead-of-implementation-on-oct-1-121092001185_1.html) + +Key personnel of AMCs to have 20 percent of their CTC mandatorily invested in the AMCs funds. The rule goes live next month. + +Seems like a good move from SEBI + +Edit: Based on the discussions, it seems that SEBI hasn't thought this through and the same is being echoed by the industry. + +[Article](https://economictimes.indiatimes.com/mf/analysis/mutual-fund-houses-irked-as-skin-in-the-game-rules-set-to-kick-in/articleshow/86409547.cms?utm_source=facebook.com&utm_medium=social&utm_campaign=ETFBMF) +# 0. Preface + +Hello apes. I am not a financial advisor and I am not providing financial advice. + +I've been getting a few PMs and comment replies asking about ComputerShare, and there's definitely FUD around it. I get why there can be FUD, but hopefully this will dispel your doubts. + +I thought I'd drop in and compile my thoughts - as well as borrow from other posts. In my opinion it's a bit crazy that there's so much negativity around the potential key to the MOASS. This isn't really "DD" but I thought I'd mark it as such anyways. Mods, feel free to change it. + +Sorry that this might look like a rehashed post since there are **tons** on the subject right now. DRS is too important of a subject to pass up, and some info within this post I haven't really seen in recent posts. So hopefully there's some new stuff here for skeptics. + +[Me irl](https://preview.redd.it/retmiilm7zn71.png?width=1195&format=png&auto=webp&s=c4ba728888e48e446bf823d3020975f10eb5cfbb) + +# 1. Direct Registering Shares (DRS) + +The act of Direct Registering Shares (DRS) is taking a security and registering that security **in your name** which is then held on the books of the transfer agent or the company (GameStop). + +DRS is waay better than having "Street Name" Registration, which is where the security you buy through Fidelity/TD Ameritrade/Webull is under **their** name and held on their books. If the float of GameStop is "Street Name" registered, then: + +* It allows brokers to trade with one another in ex-clearing for these securities and produce fails on their books. They have a massive pool of float to borrow from to give you "shares" in your account and they can continue to "reasonably locate" shares to reset their fails. +* The brokers don't have to purchase a share on the market when you send a buy order. If they can "reasonably locate" a share due to the float not being locked up, then they can essentially give you an IOU. + * This is what happened to CMKM Diamonds that Dr. T has been talking about for a while. Brokers wouldn't even buy the damn shares but investors were credited with "shares" on their account. Bam. One way that phantom shares are introduced. +* It allows shorters to continue to borrow from a massive pool of float and short the stock because they can "reasonably locate" shares, even if there is a plethora of phantom shares in existence. To the DTCC and the broker dealers, the shares are there and available! +* As long as a massive portion of the float stays "Street Name" Registered, the float isn't locked up and they can continue to stall the game, dragging the price. + +[https:\/\/www.sec.gov\/reportspubs\/investor-publications\/investorpubsholdsechtm.html](https://preview.redd.it/2gv0vj9a2zn71.png?width=727&format=png&auto=webp&s=43fa8bb8c6aa0d1d1a5dabac2fd60a8dd56e8862) + +DRS is a solution to the bullshit they're performing to suppress the stock and continue to produce phantom shares: + +* When the security is registered **in your name** on the books of the transfer agent or GameStop, it chunks down the remaining float. + * Think of institutions registering millions of share ownership and reducing the float. By DRSing shares, shareholders effectively do this and officially reduce the float. +* With less float, the broker-dealers, shorters, and market makers have less power. They'll be more constrained when it comes to "reasonably locating" shares. As the float gets locked up towards 0 shares in float, everything goes to shit: + * The brokers can no longer reasonably locate shares for you when you place an order. All shares have been purchased and the buy button effectively shuts off. (Assuming other retail isn't selling to you). This method of phantom share creation shuts down. + * Shorters cannot locate shares to borrow to short. This method of phantom share creation shuts down. + * Broker-dealers and others cannot locate shares to reset FTDs in ex-clearing. FTDs can skyrocket, finally triggering Reg Sho closeout obligations. + +But as long as the majority of the float remains **"Street Name" Registered** rather than "**Direct" Registered**, they can continue producing phantom shares and resetting fails. Essentially nullifying all buy pressure from retail. + +# 2. ComputerShare + +The good news is that Direct Registering of Shares is a process that is provided through "transfer agents" for companies. So, it's possible for retail to register the shares in their name and chunk down the float. + +[https:\/\/www.securitieslawyer101.com\/2017\/transfer-agent-direct-registration-system-drs\/](https://preview.redd.it/kdr233pd2zn71.png?width=811&format=png&auto=webp&s=bd816467ec32d95f5ef4795bf6d643c61e74632c) + +In fact, that is the **ONLY** way to DRS. It **must** be from the designated transfer agent of the company. + +And who is the designated transfer agent for GameStop? ComputerShare. This is directly from a SEC filing for GameStop: + +[https:\/\/www.sec.gov\/Archives\/edgar\/data\/1326380\/000119312521126940\/d122967ddef14a.htm](https://preview.redd.it/6l8z7ak33zn71.png?width=1041&format=png&auto=webp&s=4d560d99e548615a30ce135f5da75961b16b07f3) + +In order to DRS GameStop shares it has to be through ComputerShare. They are the only ones who can perform the DRS service to register shares in your name on their records. + +There is FUD about ComputerShare performing a buyout of Wells Fargo Trust, but that's really irrelevant. Or that they have negative reviews, CEO sold stock, so forth. That's pretty damn normal for an entity as large as themselves. + +ComputerShare provides transfer agent services for many companies of all sizes. I'm sure the shareholders of the following companies are freaking out that ComputerShare is their trading agent! + +Check out who also uses ComputerShare: + +[Microsoft](https://preview.redd.it/dv6djnwk2zn71.png?width=731&format=png&auto=webp&s=797f60018e75dc069418b60602f26060cb2ea514) + +[Apple](https://preview.redd.it/3lbv7twm2zn71.png?width=758&format=png&auto=webp&s=b533356faeb9a41f1c0f217c52bcf5eb765b1fc5) + +[Amazon](https://preview.redd.it/co52htvp2zn71.png?width=740&format=png&auto=webp&s=67cbf5829180b5f17d6447482e1870e233882e6c) + +In fact, ComputerShare is the transfer agent for the plurality of the market, at 37.4%: + +[https:\/\/blog.auditanalytics.com\/transfer-agent-market-share-2020\/](https://preview.redd.it/bol4binf2zn71.png?width=735&format=png&auto=webp&s=6690d1dd08bd00b10eab09f5982f1298db472ab5) + +So, really, I do not see how ComputerShare is anything to worry about. It's **the** golden platter, placed right in front of apes. Honestly I feel pretty dumb for not realizing this earlier when it has been posted about many months ago. + +* Direct Registering of Shares pulls the float and locks it up because it is no longer registered as "Street Name" under broker dealers. +* Direct Registering of Shares **must** be with the designated transfer agent of the company. In this case, it **must** be through ComputerShare. +* ComputerShare is the transfer agent for the plurality of the market including major names such as MSFT, AAPL, and AMZN. +* As long as the float remains "Street Name" registered, they can continue can-kicking. They can continue selling retail more phantom shares, nullifying buy pressure, and resetting fails via ex-clearing. +* Broker dealers + shorters + market makers lose their price suppression power and phantom share creation power as they have less float to work with. +* The moment more float is registered via DRS than exists, shit hits the fan (as Dr. T says!) because you immediately have evidence of phantom shares. +* It's not "coordinated market manipulation" if you're just registering the shares that you already bought. You want to show that you're a registered shareholder! + +# 3. CMKM Diamonds - Dr. T's Example of Phantom Shares Exposed by DRS + +I'm surprised I didn't look into this company earlier on either. Dr. T had been mentioning them many times over as an example of how DRS exposes phantom shares, and I'm sure a few apes have created posts on them in the past. + +>CMKM was a Canadian company with an interest in diamonds. The shareholders didn‘t know that mineral rights they were told about were owned by the founders, not the company. Criminal and civil complaints ensued. A reform management changed the company name to New Horizons Holdings, Inc with a plan to raise capital for the purchase of oil or gas assets. If successful, they would be able to return the shares to trading status with the hope of restoring value to shareholders. +> +>**NHH directed all shareholders to obtain their stock certificates and exchange them for new shares. That‘s when the masses of phantom shares and corruption of some big brokers came into stark view. Many investors discovered that their brokers had taken their money and never bought or received CMKM shares.** +> +>... +> +>The investors had “phantom shares.” They were allocated a fail to receive on the broker‘s own books, but payment money was taken from their cash accounts, and they continued to receive statements showing share positions for CMKM. - [Source](https://www.thekomisarscoop.com/2020/03/how-phantom-shares-on-wall-street-threaten-u-s-companies-and-investors/) + +Because of "Street Name" Registering, the above was allowed. Brokers wouldn't even purchase the stock and paddle fails around through ex-clear. A huge chunk of the float was not direct registered, so they had a massive pool to work with when producing phantom shares and resetting fails. + +A huuuge scandal around CMKM Diamond occurred, resulting in the phantom shares being exposed. A lawsuit of nearly $4 Trillion was pushed because WallStreet got away with screwing the investors **after creating nearly 2.25 Trillion phantom shares**. They decided "eh" and just deleted the phantom shares, resulting in the class action lawsuit that stole trillions of dollars from MainStreet investors. + +CMKM Diamond had a float of around 703 Million. But once the certificate pull occurred through direct registering of shares, it showed 2.25 trillion phantoms were out there. + +That's **3200x** the damn float. Which was probably exacerbated because it was a penny stock that was being cellar boxed for (allegedly) illegal money laundering activities. It was an easy target for broker dealers + market makers + short sellers to abuse. + +[https:\/\/www.sec.gov\/comments\/s7-19-07\/s71907-1421.htm](https://preview.redd.it/g3ppbl6e4zn71.png?width=788&format=png&auto=webp&s=de1e3e21e2e7ad14c7164a1a7621bf0aa14688f4) + +When shit hit the fan and the stock got pulled because it was a penny stock, the phantoms got deleted and the whole situation got swept under a rug. The MainStreet investors obviously got upset and filed a class action lawsuit to the sum of almost $4 Trillion. + +But, the SEC loves retail so they helped out! + +Just kidding. They didn't do jack shit because the SEC was also alleged to be complicit and that they knew of the fraudulent activities occurring on the security. + +Now, the difference here was that CMKM Diamond was a penny stock and was on the brink of bankruptcy. It was easy to delist the company and hit the nuke button. + +**GameStop is not in that situation.** + +[https:\/\/www.sec.gov\/comments\/4-590\/4590-100.htm](https://preview.redd.it/6nw8xrxc3zn71.png?width=798&format=png&auto=webp&s=1736ee0553ccce24c3ca2742e2355f5479264b61) + +The phantoms that were being produced wouldn't even show up on reported volumes, since a massive chunk was traded ex-clearing. Which is where broker dealers could reset fails and keep the phantom share machine churning: + +[https:\/\/www.sec.gov\/comments\/4-590\/4590-100.htm](https://preview.redd.it/aty3w7lj3zn71.png?width=803&format=png&auto=webp&s=04b3ab4e775bb2a8b3bc73a4019394676b066ac3) + +[https:\/\/www.sec.gov\/comments\/4-590\/4590-100.htm](https://preview.redd.it/0mwbl9xi3zn71.png?width=799&format=png&auto=webp&s=758ce26b5f2daa1495633ba564a420554669d16a) + +[https:\/\/www.sec.gov\/comments\/4-590\/4590-100.htm](https://preview.redd.it/qpkmkplk3zn71.png?width=806&format=png&auto=webp&s=fec6c90388366ebf3a3e1049bf780a131bde17f2) + +In my opinion? DRS is the killshot. But do your own research. Do not take my word for it. ✌️🐶 + +[Killshot Engaged](https://preview.redd.it/8rzeemhm6zn71.png?width=1368&format=png&auto=webp&s=763db793ee46b26a830c63613d7afaf88d5e7441) +Since this “new” info is blowing up and gaining traction I think it’s time that credit is given where due: Dr Susanne Trimbath. + +She just happened to be a senior manager for a little organization you guys might have heard of: the **Depository Trust Company (DTC).** + +She has blown the whistle decades ago on the very things we are currently talking about! In fact she wrote books about it. Here’s one of her books titled: **Naked, Short and Greedy: Wallstreet’s Failure to Deliver** [https://www.amazon.ca/Naked-Short-Greedy-Streets-Failure/dp/1910151343](https://www.amazon.ca/Naked-Short-Greedy-Streets-Failure/dp/1910151343) + +What have we been talking about this whole time? Naked shorts? Check! Failures to deliver? Check! Hmmm this definitely seems to align with our current GME/AMC predicament. Well with that in mind, what's her book about? + +**“Rigged financial markets and hopeless under-regulation on Wall Street are not new problems. In this book, Susanne Trimbath gives a sobering account of naked short selling, the failure to settle, and her efforts over decades, trying to get this fixed. Twenty-five years ago, Trimbath was working “backstage at Wall Street” when a group of corporate trust specialists told her about a problem in shareholder voting rights. When she went to senior management at Depository Trust Company (DTC), then and still the largest securities depository in the world, they brushed it off saying, “You can’t balance the world.” Ten years later, a lawyer from Texas would tell her that the same problem was about to blow up the financial markets: Wall Street brokers are using short sales and fails to deliver to grab the assets of American entrepreneurs. This is a cautionary tale. What started as a regulatory failure turned into a regulatory crisis. Shareholder democracy is in shambles. The institutions that were established to correct a problem of trade settlement failures have instead exacerbated the problem. Global financial markets may not survive what comes next.”** + +Let’s have a look to see what’s discussed shall we? + +PART I. OPENING ACT - This is a cautionary tale. **What started as a regulatory failure has turned into a regulatory crisis. Shareholder democracy is in shambles. The institutions that were established to correct a problem of trade settlement failures (failures to deliver shares for settlement) have instead exacerbated the problem.** They may not survive what comes next. + +Chapter 1: Primer. A non-technical explanation of the terminology and concepts used in the book, plus the **economic implications of trading “phantom” stock and bonds.** + +Chapter 2: Start at the Beginning. Twenty-five years ago, when I was working “backstage at Wall Street” **a group of corporate trust specialists told me about a problem in shareholder voting rights.** When I went to senior management at Depository Trust Company (DTC), then and still the largest securities depository in the world, brushed it off saying, “You can’t balance the world.” + +PART II. BACK TO WHERE I LEFT OFF Chapter 3: A Sidewalk Café in New York. At the request of a business colleague, I have coffee with a lawyer from Texas who tells me that a problem was about to blow up the financial markets: **Wall Street brokers are using short sales and fails to deliver to grab the assets of American entrepreneurs.** I feel a pang of guilt for not sticking it out to fix this before I left DTC in 1993. By 2003, it was a full-blown regulatory crisis! + +Chapter 4: Blind Men Describe an Elephant. When I start working on the issues after 2003, **the lawyers, companies, investors and consultants I meet are like the blind men and a phantom share is the elephant.** From a dentist in Michigan to a Republic operative in Washington DC, few of the self-described experts even knew what a naked short sale was before it either happened to them or someone hired them to pontificate on the subject. + +PART III. COMMITTING TO A CAUSE Chapter 5: Real Experts Meet. The lawyers and several companies they represent are relying on poorly written reports provided by the Blind Men. Recognizing that the errors are piling up and having a negative impact on the outcomes in the court room, I bring in real experts, including the corporate trust specialists who first came to me in **1993. We coin the term “phantom shares” to describe the extra shares being created by short sales, stock lending and fails to deliver.** + +Chapter 6: STA White Paper. **The industry organization of corporate trust specialists, the Securities Transfer Association (STA) issues a report on over-voting after they are** **unable to get help from the Securities and Exchange Commission (SEC)**. Articles in their newsletter include a survey showing that over-voting – the direct result of investors voting phantom shares in corporate elections – impacts every public company. Almost immediately, the Securities Industry Association sends a letter to the NYSE describing how they can **hide over-voting** and the NYSE removes the last remaining rule that made it possible for a buyer to demand delivery of shares. A year later, over-voting is found in every corporate election surveyed by the STA. **Even after the SIA implements processes to hide over-voting, the STA finds one-third of corporate elections are still receiving up to 25% more votes than there are shares outstanding.** + +Chapter 7: Tax Consequences. My research shows that taxpayers and governments are losing out when interest and dividends are paid on phantom shares. The loss of tax revenue is not trivial: as much as $4.0 billion to the states and $1.5 billion to the federal government every year. + +PART IV. SUCCESS SEEMS POSSIBLE Chapter 8: **Regulation SHO. I submit comment letters to the SEC that outline the financial and economic consequences of fails to deliver (FTD). When FTD reporting from NSCC to SEC begins, we are optimistic. Even though it is a list of victims (companies) but not the perpetrators (brokers), this is our first chance to see weekly and then daily data. We still don’t know how old a fail is, but at least we have more frequent reports of the total value of fails and the number of shares failed per company. This chapter includes several of my comment letters explaining the implications for capital markets and the economy of the unfolding regulatory crisis, including the fact that Reg SHO had no enforcement teeth.** It includes the attachments I submitted, like a copy of an NYSE audit proving that they knew that brokers were voting in corporate elections without regard to shareholder rights. + +Chapter 9: Criminal Cases Reveal Evidence. Although none of the lawsuits against the central clearing and settlement organizations (DTCC and its subsidiaries) is able to progress in the state courts, some organized crime cases result in settlement agreements and federal prosecutions. They move slowly but reveal evidence through discovery that supports the civil claims for several issuers against the brokers. This book does not detail financial crimes, but the cases against the primary perpetrators involved in manipulating Eagletech’s stock are outlined to demonstrate the criminal strategies. We visit the more complete story of Eagletech Communications, Inc. in Chapter 10. + +Chapter 10: The Battle Goes Public. When a Dateline NBC segment on Eagletech is announced, the pajamahideen are emboldened, organizing protests and rallies including one on the sidewalk in front of DTCC’s headquarters in Manhattan. The Dateline episode falls far short of the exposé everyone was hoping for. Later that year, the National Association of Securities Administrators Association (NASAA) holds a public forum in Washington, D.C. Publicity for the issue rises to the mainstream media, with a **cover story in Bloomberg Markets magazine focused on the problems created by phantom votes. The CEO of a large public company is in the audience. I challenge him to buy shares of stock in his own company and find out if the seller fails to deliver. His broker debits his bank account for over $1 million dollars – then it takes two months for him to get delivery of the shares.** In the face of this evidence and the harsh reality that it can happen to anyone, Patrick Byrne escalates his activities to warfare. + +PART V. ESCALATING COMMITMENTS Chapter 11: Byrne’s War. With the NASAA event as the backdrop, I push Patrick Byrne to stay focused on the real issue: corporate governance. He has me added to several email distribution lists with what he dubs the **“Pajamahideen” – freedom fighters who work from home in their pajamas.** Patrick hires a firm specializing in “legislative strategies” to arrange a media event in Washington DC. It is poorly attended and not widely reported with only one congressional aide at the event. Instead of explaining the important regulatory changes needed to protect corporate governance, Patrick has the team presentation focus on criminal activity. This chapter includes the text of my online interview with The Sanity Check. + +Chapter 12: Publicity Ramps Up with Meetings, Events and Interviews. I appear at the confirmation hearing when a former DTCC Board members is nominated as State Treasurer for New Jersey. I and some of the pajamahideen point to his Board role as making him complicit in hiding the fails to deliver. Afterward, DTCC will attempt to use one obscure new article about the hearing in an effort to disparage me (Chapter 15). Stories show up in every financial news outlet from print and online to radio and television. Bloomberg produces and airs a special report on “Phantom Shares” and I am the keynote speaker at the Securities Lending Conference in New York. I am contacted by an agent from the FBI-NY and he asks me to meet with the SDNY Attorney’s office to brief them on fails and shorts. I present them with shocking evidence of system-wide problems in post-trade processing. I don’t hear from them again. + +Chapter 13: Naked, Short and Greedy in LA. The CFA-LA initially agrees to put on an event about naked short selling. Bloomberg TV is prepared to broadcast the event. Then DTCC threatens action against CFA-LA if they have me as a speaker. CFA-LA caves and cancels the event. Overstock CEO Patrick Byrne steps up with a small sponsorship and STP Advisory Services funds the remainder for a new event in October. With just a shoe-string budget, we are able to fill a meeting room at the Park Hyatt in Century City (Los Angeles) with attendees from all over the US. + +PART VI. ALL SEEMS LOST After a series of promising events, what happened next offered one setback after another. In a painful, emotionally charged series of events for me, the goal of resolving the regulatory crisis seemed to move further and further away. Things were happening too quickly to have feelings about them: by the time it was over, I was just starting to have feelings about the kind of feelings I had when it was happening. DTCC’s efforts to banish me to the background left me raw as I constantly had to keep up my guard against it. Paradoxically, all of the negativity drew a sense of even deeper commitment from me. + +Chapter 14: Resistance from Wall Street. DTCC escalates their efforts against me. It has the opposite effect, making more companies and investors trust me to speak out on their behalf. They contact the producers and sponsors for events that invite me to be keynote speaker. They even threaten to cancel program participation for a transfer agent who hires me as a consultant. In the end, the people and organizations that I worked with in my years at DTC come to my support with more speaker invitations. + +Chapter 15: Corporate Governance Fails at Overstock. The real blow comes when Patrick has the chance to close it out with the proxy voting charade at his annual meeting. He does nothing because he got the chairman slot he was so afraid “they” would take away from him. The real experts I bring in are ignored completely. I feel Patrick and his lawyers push me aside in favor of a series of yes-men and consultants with worn-out low-level government titles. He will lose his appeal in a million-dollar lawsuit brought against him and one of his writers for libel and defamation. + +Chapter 16: Senate Inaction. Patrick is a big political donor who is able to get some statements about “naked short selling” read into the record by congressmen from Utah. I was able to include a couple of paragraphs about fails to deliver. **Under pressure from DTCC, the SEC and Wall Street’s own political donations, Congress refuses to hold hearings to air the investors’ side of the story. In 2012, the Washington Post will report finding lawmakers in 2008 were investing hundreds of thousands of dollars in short-selling funds.** + +PART VII. WHEN THE MUSIC STOPS Then came the Wall Street bailout, appointing Geithner to Treasury to replace Paulson (who pillaged the Treasury on his way out of town), Dodd-Frank which does nothing but order a bunch of studies. Soon, everyone is so wrapped up in trying to figure out what the rules are going to be that no one is able to move forward with any action. + +Chapter 17: Media Interest after the Financial Crisis. When the financial crisis hits the markets, I am doing radio interviews every month. **In September, Matt Taibbi interviews me for the Rolling Stone magazine article that would be quoted extensively because he called Goldman Sachs a “great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.” In 2013, Forbes was still referencing that article. The Daily Show produces a segment on short selling that gets attention as far up as the White House daily briefing.** + +**Chapter 18: CMKM and the UnShareholders. A diamond mining firm, CMKM, orders a “cert pull” to get all the company’s shares out of the DTC. It reveals how many phantom shares are in circulation as a multitude of investors – dubbed the UnShareholders – are left holding the empty bag. Brokers begin deleting share positions as they stop returning calls to angry customers around the world, including several active-duty members of the military stationed overseas. But the evidence is there: brokers assigned phantom shares to their most vulnerable customers while getting real certificated-shares for themselves and favored clients. Before it shuts down, the UnShareholder project reveals the same circumstances applied to over 100 investors for 21 more companies across 15 brokerage firms. Launched June 9, 2008; closed in 2010. The investors were located throughout the US and in 5 other countries on three continents. In 2007, shareholders in British Columbia (Canada) sue their broker for refusal to provide certificates for shares shown in their account. The same day it was filed, it went directly before B.C. Supreme Court Justice H. Groberman, who ordered Canaccord to provide the share certificates "without delay."** + +**Chapter 19: Two Documentary Films. Sandra Mohr’s Stock Shock is first out of the blocks among several films, including a few big Hollywood productions that would make the connection between failures in supervision, regulation and post-trade processing and the 2008 collapse of global capital markets. “The bad guys won.” I am interviewed for the documentary Wall Street Conspiracy in July. When the stock market crashes in September, the producers invite me back to explain the connection with what I told them 2 months earlier. The transcript of that interview is included in this chapter.** + +PART VIII. THE TRAGEDY OF A DOWNER ENDING Chapter 20: GAO Faults SEC and Other Revelations. In 2009, GAO would fault SEC for ignoring thousands of “NSS” complaints. My interview with the GAO is included in this chapter. The deeper tragedy is that so many companies lost access to the capital that is a keystone on US capital markets. Of the three companies highlighted in this book, Eagletech folded in 2006, CMKM held on until 2019 (as NHHI). Only Barker Minerals remains a functioning business despite the fact that the shares ceased trading after they could no longer afford to have financial statements produced by an external auditor. + +Chapter 21: Barker Minerals’ Unique Approach. A Canadian mining firm, Barker Minerals Ltd. approached me in 2010 for help with a strategy they developed to ferret out which brokers were failing to deliver their stock for settlement. In contrast to denouncing short sellers, which was the basis for most complaints in the US, **Barker called their analysis the “Pro Long Strategy” for its emphasis on protecting and supporting long-term shareholder investments.** Barker Minerals continues in operations today, primarily using personal funding after the stock ceased trading on 5 April 2019. + +**PART IX. UNRESOLVED REGULATORY CRISIS For decades, investors have settled for a small rate of return in their investment accounts, while the companies holding their money have earned trillions of dollars in income. If there is one lesson learned from my experiences over the last 15 years, it is that even a disorganized protest is still a protest. A small but vocal group of investors and entrepreneurs can shake up the system at least enough to get some transparency. The financial sector has lost its moral compass. Investors and entrepreneurs are on their own when they venture into US capital markets. They have to protect themselves and the wealth they hope to accumulate.** + +I know, that was long, but the depth/complexity as well as the scale of this is **MONSTROUS.** I can not offer any TLDR as all of the info is relevant in understanding the gravity of what we are facing. + +Some things never change I guess... it’s the same shit now as back then. The scary part is that nothing has been done about it. I’ve been reading comments from you guys about emailing these stories to journalists and such, but these guys have had this stuff for years and never touched it. This has gone into the courts/government and was shaken off. + +I’ve said it before and I’ll say it again. If you want to fix this bullshit then hold your shares like your life depends on it and MAKE them deal with the situation they have put themselves in! + +At this point you have a civic duty (as I saw someone else say earlier) + +Most of this isn’t exactly new to us, but one thing in particular was new to me and I think it deserves some more attention. **Over-Voting**. “One-third of corporate elections are still receiving up to 25% more votes than there are shares outstanding.” **Are you kidding me?! That’s not a little sus?!?!** I’m not sure what the current situation for over-voting is, but here’s a fun fact: GME shareholder meeting is coming up soon. Do we expect a stock that currently has 142% (or whatever the hell it is now) institutional ownership to also have over-voting?! This thing is a **MESS!** + +This is one hell of a rabbit hole and will require some time and effort, but I think it warrants a look to see if anyone in the past stood their ground the way GME shareholders are. I doubt it ever happened, but it would be nice to confirm. If they did and still failed I would like to know what happened. + +Had to edit a few things now that I have some time: took out “little lady” as it came out derogatory, but was not intended that way. +Every ape who gets a chance to see this, do not believe the words of any one person or entity. Decide for yourself through all of the data, facts, and evidence provided...the importance of the material discussed within this post. + +I have witnessed it retain literally *more awards than comments* at one point...along with multiple apes reaching out in regard to how far buried its been since its release and so forth.. + +*See for yourself, how this game, with damn near certainty, will end. The Fractionalization of the N.F.T*. + +The true meaning behind 741/F-N.F.T Link. Follow the trail..leave no stone unturned and realize the trap that was laid out for every shortbus and Co member on the wrong side of the holy stonk.. + +https://www.reddit.com/r/Superstonk/comments/pki107/the_glass_castle_new_game/?utm_medium=android_app&utm_source=share + +Game On, Anon. +I always hear that its a crap degree, you cannot use it for anything, you cannot get a job. You learn nothing of any use. + +But on the other hand many of the richest people on earth have economics degrees and the average salary seems to rival many stem fields. + +I dont get it. + +I like economics but im absolutely warned away from studying it at every turn. + +Why is this ? Is it really that bad ? +I just wanted to share my experience with a new IndusInd credit card. So, it was Intermiles Indusind Bank Odyssey credit card which I enrolled for. It was a lifetime free card. As per their sales guy, I would be getting 2 welcome benefits; +1. 15000 Intermiles +2. 4500 INR voucher (for hotel + air ticket) + +Now, here's the fun part (pun intended !). +The first welcome benefit was on the basis of spends above INR 60000 within 90 days. They sent me 2 card variants (AMEX and VISA) and I had checked with the sales person before enrolling on the TnCs clearly that if I need to spend 60000 on both OR it should be cumulative and he mentioned that it should be total spends above 60k...So card variant does not matter. + +However, when 90 days elapsed and I did not see any welcome benefits, I called up their helpline and they gave me different replies ranging from they'll check with their Product team and get back. +Others mentioned that since it was a free card, I was not eligible (again I had checked very clearly on this from the sales guy) + +Finally when I told them that these conditions were clearly clarified by me, they told that I need to meet the spends criteria of 60k on both the variants !!! + +I asked them then you guys should advertise as spends above 120K and not above 60K, for which they did not have a proper answer. + +I had raised this issue to RBI as well via https://cms.rbi.org.in/, but that one also got closed without any resolution. + +Finally, I had to close this card for the total unprofessional behavior of IndusInd Bank. + +While I did find lot of complaints later on social media regarding IndusInd Bank, I never realized that the bank can go to such levels (promising something and later denying the benefits due to the customer on some TnCs). + +Did anyone here have any similar experience with IndusInd bank ? +Not the people doing the job of course, but the actual concept. + +I rather park myself and walk to the restaurant or the venue. I don’t necessary like strangers driving my car. And sometimes I like leaving valuables in the car. And I don’t want to go through the extra effort of securing them or leaving them home before having my car valet. + +I don’t mind the extra cost however I rarely carry the change for it. It feels I have to go through an extra effort to have cash ready for it. Like going to the ATM just before. + +Finally, sometimes you have car lines to the valet. So you won’t be even saving any time in some cases. + +And this is not even accounting that sometimes nice cars get abused by vales. I just don’t get it. + +Am I missing something? +I understand what quantitative easing is and why the Fed engages in it. In theory it should increase liquidity in the market which fuels lending and thus economic growth. + +But couldn't one argue that QE encourages lending to businesses and operations that aren't really profitable or sustainable? Propping up a "zombie economy", as some people have put it. One could also argue that it devalues the value of the dollar and causes inflation. Though inflation may not be seen in the CPI, it may be seen in asset prices. + +The people who oppose the Federal Reserve tend to be opposed to it on political grounds, so it's hard for me to really take their opinion seriously. At the same time, the arguments I laid out above do make sense to me. + +So that's my question. Do mainstream economists actually agree that QE works or is a good idea? Not talking about the fringe people. What do people who actually know what they're talking about and study this stuff for a living think? What are the different points of view? +The 7 month Shib Journey was an absolute rollercoaster. Especially the last 2 weeks. I struggled with cashing out but i knew if i didn't stick to my goal could end up regretting losing some incredible returns. I'm really looking forward to a more steady less stressful ride here. I've always been dead impressed with ETH, yeah the gas fees is obviously the one thing that i'm not crazy confident about but I know ETH 2 looks to address the issues. And also seeing some of the apps using ETH like Sorare for example have just raised $680million dollars which is crazy. Anyways long story short excited to be here nice to meet you all. +I've encountered many people, both in my personal life and online, that insist upon using a debit card for their purchases, instead of using a credit card -- either because they don't yet have one, or because they have some fear of using a credit card. There are literally no cons to using a credit card if, and here's the catch, **you're responsible**. That's all. There are so many pros built in to using a credit card over a debit card. Here are a few: + +**It's safer!** When you use a debit card to make a purchase, you're essentially handing the merchant direct access to your bank account. Should the waitress at the restaurant you're eating at write down your debit card number or should your favorite grocery store experience a breach, that's direct access to your account and your money. Yeah you can file a fraud dispute with your bank and get your money back eventually, but in the meantime, that money is poof, gone. + +Compare this to using a credit card - when you do this, you're using the creditor's money to make your purchase and you don't have to pay it until your statement closes. You have a 30 day window in between payments to make sure that all purchases on your card are yours. And if there's a purchase you didn't make, that's not your money missing. + +**It builds your credit.** When you use a credit card RESPONSIBLY, it will build your credit over time. Which if you're young may not be a big deal to you, but eventually you might want to buy a car or house, and unless you have a lump sum sitting in cash, you're going to need to finance it. Low interest loans are granted to people with good credit scores, meaning you pay the bank less in interest to use their money. Compared to someone with poor credit who will either get a high interest loan or no loan at all. + +The caveat here is that you never miss a payment. EVER. A good rule of thumb is to only spend on credit what you can pay cash for at the same time. You should never buy something on credit that you couldn't otherwise afford at that same point in time with your debit card. + +**Purchase protection.** A lot of major credit card companies (like American Express and Discover) offer a suite of purchase protection features. This is especially useful when you buy big ticket items (like a flat screen TV or laptop, for example), because it adds a layer of protection to you, the consumer. Some features are: + +* Accidental damage coverage - if you break your device in the first couple months of owning it, you can get it replaced by your credit card company. +* Better price guarantee - just bought an expensive item but found a better deal somewhere else? The credit card company will cover the difference. +* Theft protection - if your item is stolen within the first few months of owning it, your credit card company will replace it for you +* Extended warranty - all my credit cards offer 100% of the manufacturer's original warranty on any purchase. 1 year manufacturer's warranty on my iPhone becomes a 2 year warranty including the extra year of coverage from the credit card company. + +And many more. + +**The credit card company will reward you for using it.** Most credit cards offer points or cash back that you earn every time you swipe your card on things you'd already be buying anyways. Same applies for paying bills. So by using a credit card, you can get a percentage of cash back or points that you can redeem later or put towards a purchase or vacation/trip. + +Some tips on using a credit card: + +* NEVER miss a payment. EVER. You will destroy your credit with as little as one missed payment. +* Only buy on a credit card what you can afford to buy on a debit card at the same point in time. This is how people end up with $1,000s in credit card debt - because they use their card irresponsibly and then can't afford the payments. Being responsible is the only thing it takes to use a credit card. +* Pay in full - only suckers make the minimum payments. When you only pay the minimum each month, the credit card companies will charge you interest for using their money longer than the 30 day statement period. Whatever you heard about making the minimum payment to boost your credit score is false. Paying your card off in full achieves the same score improvements. + +Hopefully this post is enough to convince you to make the move to responsible spending with a credit card. They're awesome financial tools to build your credit and build your future as a responsible adult, and all it takes is responsibility and self control now. + +Here's a success story for you now that you've gotten through this post. A couple months ago my credit card number was skimmed and used several states away from me. The purchase was at a small convenience mart and was only a few dollars, as the thief was likely testing the card to make sure it works. My bank notified me immediately of the fraud alert. All I had to do was say it wasn't me who made the charge and it disappeared. Never had to deal with it again. Granted, a couple bucks didn't do any harm to me, but had that been a purchase of $1000 or more, that would have stung if it was my debit card that made the purchase. + +I applied for my first credit card the day I turned 18. I now have four credit cards with almost $30,000 in available open credit across them and a credit score of 770 at age 23. All it took was a little persistence and responsibility. If I can do it, believe me, so can you. + +Edit: thanks for the gold!!! +So I’ll be 34 in June. I’ve been out of work for a while and on disability but I just recently started feeling better and landed a great job I enjoy! I’m only making 35k a year and I have nothing in retirement. I have about 5k saved up. I rent from a friend right now $800 a month and my car is 300 and insurance 200. I’m working on my credit it’s 633 right now .. I don’t know what financial goals I should have everything seems out of reach. Real estate is so expensive in my area . I’m trying to be content with what I have but sometimes I feel like I’m a failure and should be doing better.. any advice? +I feel the need to dump some of my thoughts. It's apparent that lot of ETH investors don't understand what they own, and are just acting based on speculation of market cycles. By the end of this post I hope to help a few of you know a little more about what you own (or what you are thinking about owning) and why the current bull market is just a cherry on top of something much larger. + +Here are a truckload of hugely positive things that *have not yet altered* the price of ETH*:* + +* [EIP 1559](https://notes.ethereum.org/@vbuterin/eip-1559-faq), **THIS UPCOMING SUMMER:** + * Slashes mining profits and therefore cuts new ETH entering the economy. Miners are the most consistent sellers of ETH. Less new ETH entering the market means less ETH available to buy. This means the cost of ETH goes up significantly relative to current prices. + * Fee burning - destroying a portion of the ETH used in transaction fees. ETH actively leaving the market means even less ETH available to buy. ETH goes up even more. + * Both of these effects will take months to ripple through the exchanges, but their effects will be huge. Look at the regular [Bitcoin Halving](https://www.investopedia.com/bitcoin-halving-4843769) event for reference, and be patient. Supply/demand shifts take months to hit prices. +* [The Merge](https://ethmerge.com/), **THIS UPCOMING WINTER**: + * Mining ETH will be a thing of the past. Instead, all new ETH will be given to wallets that stake the ETH they already own. Basically, for putting the ETH you hold into a staking pool, you will be given more ETH at a rate of about 7% of what you own per year. That's a really generous interest rate, making ETH a competitive investment for the wealthy *even if the price of ETH stagnates.* + * BUT - this will happen while ETH also continues to grow in value. Your existing ETH goes up, and owning ETH also gives you more ETH. In fact, this will be the *only way* new ETH is minted from then on. This is a *massive* incentive to sit on a pile of ETH, and only sell what you need to pay bills. Again, less selling means more expensive ETH. + * This will also take months to ripple through exchanges as it's a supply/demand shift. Be patient. +* [Sharding](https://ethereum.org/en/eth2/shard-chains/) in **2022:** + * This is a big one because a lot of seasoned crypto traders expect a bear market to start in 2022. I do too, but 2022 will be the year that Ethereum's adoption as technology takes off in a real way. With the implementation of sharding, and [eWASM](https://medium.com/chainsafe-systems/ethereum-2-0-a-complete-guide-ewasm-394cac756baf), Ethereum is going to change the world. That doesn't mean the bear market won't hit us, but it means one of two things: either the bear market's impact on ETH will be dramatically reduced, *or*, we're about to experience the buying opportunity of a lifetime before ETH goes wildly parabolic at the end of the bear market. + * When ETH 2.0 is fully deployed, the network will have gone from processing just over a dozen transactions per second (as it does today), to about 100,000. A speed increase of 10,000x, and an equivalent gas fee reduction. I'll let you decide whether or not you think that will make more developers, governments, institutions, and even just regular people want to use the Ethereum network. +* Public opinion and knowledge: + * [**The flippening**](https://www.blockchaincenter.net/flippening/) **is coming. It's not an if. It's a when.** It may literally even be this year. When this happens the average joe news media is going to erupt. Public opinion will shift. Ethereum will be a household name. In a few years, family will be *approaching you* to ask about staking ETH, instead of you just talking their ears off about how you've doubled your net worth in a single month. + * **Look at that graph in the flippening link -** The flip was on its way to happening before the crypto crash. ETH 2.0 is coming. This is not a question of "if". I don't know how anyone can look at that graph in the context of ETH 2.0 and deny that the flippening is coming very soon. +* Tech adoption: + * NFTs are going to be an enormous part of the future. Everything about the technology just makes sense and solves so many problems. We will see house deeds, permits, digital assets, bonds, video game property, wills, maybe even voting systems... all take place on-chain. Many of these will be *side chains running on Ethereum*. NFTs also allow something really cool - physical and digital assets tying together. Imagine buying a concert ticket and later receiving an NFT of the band taking a crowd-facing selfie *at that concert*. Incredibly cool stuff. This is the future we are about to live in, and *very* soon. + * After the ETH 2.0 merge, the Ethereum network will be world-changing technology, in fact, it is getting there already and we've not even taken off yet. People who aren't familiar with terms like "L2 scaling" and "settlement layer" won't be able to follow, but you'll have to believe the nerdy folks. This is big. Bigger than big. This will be the quiet superhighway beneath the world, and the profits it generates will go directly to those staking and hodling their ETH... that's *you.* + +All of the coming benefits above are multiplicative with one another. + +Multiplicative benefits are what cause parabolic growth. + +**Some of my fun predictions as of 5/9/21:** + +* Bitcoin is about to go on a Summer tear. I expect within a few months it will run up over 100%, and it may leave 5 digits for the last time. It will outperform ETH for a short period, but ETH will still dramatically outperform it over the next 8 months overall. +* Sometime in the next few weeks ETH will see a significant but temporary pullback or an extended stagnation. We really need to shake out some paper hands. My guess is that this happens between $4800 and $6000. +* By January 1st 2023, Eth will have spent a significant amount of time around $50,000. I'm making this claim assuming no catastrophic USD inflation. To make the point, I will also claim it will hit 12x its current value (as of 5/9/2021) relative to every fiat currency. +* By 2025 you will be able to use a wallet containing either [gwei](https://www.investopedia.com/terms/g/gwei-ethereum.asp) or [satoshis](https://www.investopedia.com/terms/s/satoshi.asp) to purchase almost *anything* that you can purchase with a debit card in 2021. Your house and car deeds will exist on a blockchain if you so desire. You will personally own NFTs, even if you currently think they are silly. + +To conclude, it is my belief that the $10K ETH claim is made based on market cycle analysis alone. It doesn't even consider ETH 2.0, technology adoption, deflationary indicators, or market actualization. $10K is a joke, $10k will happen below the flippening. I believe those that permanently leave ETH at $10k will be haunted by that decision for the rest of their lives. + +How many times have you heard "is that another Bitcoin? I don't get involved in that crypto stuff." The people saying this to you today will be putting ETH in their IRAs and 401Ks in a few years. You are not just early, you are *insanely* early. **Nobody outside the crypto community even knows what Ethereum is. Let me repeat that -** ***Ethereum is worth $400 billion, and the vast majority of all investors still don't even know what it is.*** + +$5K is a great price. $10k is a great price. + +Your Lambo, your custom house, your pool.. they don't exist yet, but they are coming. + +This is not a drill. + +HODL. + + I'm not a financial advisor, I'm a network engineer. These are my personal beliefs. This is not official investment or financial advice in any capacity. +Thought I’d post this on r/AusFinance, but I then remembered you can only post there if you earn over 200K a year and own over 5 properties in Sydney. + +Given that I’ve spent quite some time in the sub, and with recent events I think y’all would be the perfect crowd to answer this question. + +So, how do you live frugally and save money? +https://www.cnbc.com/2021/01/11/bitcoin-btc-price-nearly-170-billion-wiped-off-entire-cryptocurrency-market.html + +Looks like a 20% drop on Sunday means that the Bitcoin bubble is popped at least in the near term. It just goes to show that there is still very little liquidity actually moving the price around. I personally think it will probably bounce back up within a month or two, and the roller coaster will continue again. +I have a very basic understanding of economics (supply & demand, printing more money devalues currency, opportunity cost & gdp) but I haven't been able to wrap my head around what's currently going on in the economy. What does it even mean to "raise rates" or whatever the Federal Reserve is doing? +I'm assuming there was more than one factor and there's probably not on single definitive answer of course, but what were some of the main causes. I've heard the gold standard made it more difficult to conduct monetary policy as a reason why the depression was so deep for example +[Elon Musk Tweet](https://ibb.co/dBSg5ps) + +On the Night of May 15th, a Twitter profile tweeted Doge Coin is the chosen one by Elon Musk because of its lower fees and less environmental effect. + +Elon Musk replies that he wants to speed up Block time 10X and increase Block size 10X to reduce transaction fee 100X, for Doge Coin. + +If the solution of blockchain scaling was simply to change the variables, why Adam Beck didn't think of this and why Satoshi didn't think of this. + +Even now projects like Ethereum can increase the limit and make transaction fees on the chain reduce over 1000X. + +THE SOLUTION IS NOT TO JUST CHANGE NUMBERS. + +It seriously has a bad effects on the network security and decentralization. (Please remember this) + +Many projects like BCH and BSV has tried all this. And failed. + +This narrative is so 2013. + +Bitcoin has proven itself again and again over the years on why it is the King. And projects like Ethereum are working for years to scale in this perspective. + +If you are new to crypto, please do not get manipulated by Elon Musk's tweets. + +IMO, Doge Coin is just a tool for Elon to flex his dominance around this space. It won't last long as he clearly has no clue what he is talking about. +I somehow found myself in another "Why don't you just cut unnecessary spending?" spiral, so I've decided to do some math that I and anyone else can copy and paste as needed. + +&#x200B; + +Why don't you stop buying Starbucks/Netflix/beer/movie tickets/whatever occasional purchase you use to feel a little better? Won't that fix your financial situation? Why is the snack/trinket/experience worth more? + +Let me lead with this: Money has no intrinsic value. You avoid spending money on one thing so that you can spend it on another. That's the reason. You can choose to not spend as much on one thing so that you can pay for something else. If the savings on one thing are not enough to purchase the other thing, it makes no sense to not get the enjoyable thing that you can afford. + +The example: + +Let's say you want to buy a car. You can get a nice, new car for $25k. We're ignoring trade in value or savings for a down payment in these calculations because poor people don't tend to have significant equity \[update: not because you are poor in this scenario but because we're going to work from zero with our numbers\]. We're starting from the bottom. The average interest rate for a new car loan in the US is 4.21%. This would make your payments $463/month. + +Now, let's say that you don't want to get that car loan. You want to avoid that pesky interest rate. It just doesn't make financial sense, right? Instead you opt to ride public transit until you can save up enough for the car. The average cost of a transit pass in the US is $67/month. That's $396 less than the car payment, so that's $396/month out of your transportation budget that you can tuck away. + +It will take you **over five years to afford that car**. + +That is five years of only going where the buses run while the buses are running. That is five years of dealing with other people's smells and sounds. That is five years of walking to and from transit stops. + +This is a best case scenario. What if you don't live in a city with adequate transit? What if it's more expensive in your city? What if you work overnight, and the buses don't go in the direction you need at the times you need them to? What if a drunk person pukes or pees on you? Because that happens. + +Given the choice, many of us would just pay the extra to commute in clean privacy for those five years. It's worth it to be able to go where you want when you want. The benefits would outweigh the costs, as evidenced by the number of Americans with auto loans. + +**The only other way to compress that timeline is to be able to increase your transportation budget.** + +This is why broke people buy lattes instead of investing. It's because if you bought a frappuccino every day, it would take **nine and a half years** to spend the equivalent of a 7% down payment on a $250k house. It would take **almost four years** even for a $100k house. + +**You cannot nickel and dime your way out of poverty.** + +If you wouldn't sit in someone else's urine stains for five years, leave the poor person buying an avocado alone. + +&#x200B; + +&#x200B; + +Edit: Yikes. Where do I begin? + +I thought that the first paragraph explained my purpose clearly enough, but this is a scenario meant to explain a certain type of opportunity cost to someone living above a certain standard. Imaginary scenario guy is obviously not that hard up. I'm thinking it was a certain line that confused people, and I've edited it accordingly. + +The daily frappuccino example is a theoretical maximum pulled from a common trope of "financial advice" columns. No broke person is buying one every day, but even if they were, that's the absolute most they could save. No, that number isn't nothing, but that's an imaginary peak. The point is that it's not the coffee that's keeping people out of escrow. + +But look what people did. + +They fought tooth and nail to explain why an imaginary person with the space in their budget should not buy something they want. I've been accused of making up interest rates, never having ridden a bus, never having seen a homeless person \[projection much?\], etc. All my numbers were pulled from national averages compiled in the last year. Some of the numbers were surprising enough to be in headlines. The pee scenario? Pulled from a true story. The struggles of public transit? From my own experience in my city. I've been to cities with beautiful transit that could easily replace a car, but for myself and many other Americans that's just not a realistic situation. + +I was just trying to give people a tool to make a point. That point is that it's not anyone's business to police how somebody else makes their way through a long term problem. (And for a lot of people poverty isn't long term but actually permanent. It's just a fact that many people die in poverty. I'm not being pessimistic. It's a statistic.) + +If I might get something in ten years, it's up to me to decide whether that's worth chipping away at the quality of the days in between. It's not anyone else's job to pass judgement on that decision. Analysis of an opportunity cost is very personal. Let people live. +Ever wonder if taking a second job or extra shifts is really worth it? Wonder if your spouse working a light job will really help? + +If you have high interest debt like credit cards, the answer is absolutely yes! + +At the average credit card rate of 15% or higher, every dollar you pay now saves 2 dollars by the time you pay it off. So that extra $7.75 or $10 per hour becomes $15.50 or $20 per hour when you take into effect how much it saves you when you put it towards paying off that high interest debt. + +Even if you don't have high interest debt and you have a decent mortgage, over the life of a 20 or 30 year mortgage you pay nearly $2 for every dollar you took out. + +So paying an extra $5000 a year up front from a 10 hour a week second job will end up saving you nearly $10,000, or almost a year of payments for every year you work the second job. + +If you work an extra 10 hours a week for 10 years and put that towards the average mortgage, it will save you 10 years of payments for the equivalent of only 2.5 years of full time work. + +So yes, if you work a little extra and put that towards your debt, you can dramatically improve your debt situation and free up years of your life in the future. + +It DOES make a difference. Don't let anyone tell you it doesn't. +Anti-lockdown activists in Australia [are accusing climate activists of hypocrisy for not opposing government actions which result in debt](https://twitter.com/Progressive_Con/status/1394202435611074561?s=19). Regardless of whether you think lockdown or climate action is a good thing, one thing is for sure: the pandemic has resulted in skyrocketing government debt, [not just in Australia](https://amp.abc.net.au/article/13337336), but also [around the world](https://www.bloomberg.com/graphics/2021-coronavirus-global-debt/). + +Debt has interest, and this makes debt grow on its own. Will Greece-style austerity measures need to be introduced to tackle the debt? Will this debt cause hyperinflation similar to that in the Weimar Republic? Will we need face increased taxes to pay off the debt? Will the banking sector collapse due to multiple countries defaulting on their debts? + +One thing that worries me even further is that even *The Conversation* seems to be [encouraging us to stick our heads in the sand about this](https://theconversation.com/please-no-more-questions-about-how-we-are-going-to-pay-off-the-covid-debt-158056). +["A Victorian dad-of-four has managed to retire at age 36 after finding a way to make $250,000 every year without doing any work"](https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.news.com.au/finance/real-estate/buying/melbourne-dad-retires-early-after-making-250k-a-year-from-vast-property-portfolio/news-story/df19cbb86a747eb699a9ced2f22d0523%3Famp&ved=2ahUKEwj39evOwO30AhWCwjgGHTF7AMwQvOMEKAB6BAgDEAE&usg=AOvVaw3XGPglkVrTnDV6LdSNglNA) + +Do you find these kind of articles worrying? Even a best case scenario assuming 100 properties only cost an average price of $250,000 the return on investment would be around 1% the real ROI is likely much much worse than this. + +Yes, it would likely be highly leveraged, which may make the ROI better - but regardless the return for the amount of money borrowed is terrible. + +What do you think about these types of articles and financial advice? +I live in a developing country. Had some tough financial times and had to start using the free clinic in my town. I had to be there 7am this morning to get in line, took me 2 hours to see the nurse who always makes me get a urine sample. I have to walk past many people to the toilets at the back, collect the sample, walk all the way back with a big funnel looking cup. They won't tell me what the test is for, just that I need it to see the doctor along with weight and BP. First time I came was for birth control so it made sense as a pregnancy test. But why would they need to test it every time I come there? And then after she's dipped the strip of paper in I have to carry my cup all the way back to the bathroom to empty it out. I was instructed to then put it back down on the table where I found it. I really hope someone is going in there to wash those cups between patients, I've never seen them do it but I keep hope. If not what is the point if every urine sample is contaminated by the previous users. + +After an hour and a half I get to see the doctor who's calling reception because my results aren't in the file, but my consultation is at least professional. Medication is also free so I go to the pharmacy where they fill half of my prescription another hour later. I let them know that there is some missing and I'm told to take a seat. After waiting another 30 minutes they ask why I'm still there. I explained and was told to go to reception to get my file because they sent it back. I was on the verge of tears out of pure frustration. It's like this pretty much every time I've been here. Turns out that the second part of my script was out of stock and instead of just letting me know, threw it in the done pile. + +2 years ago I would have made an appointment with my GP, shown up and been escorted in within a few minutes, been treated with dignity and respect, had all my questions answered, gone to a pharmacy and filled my prescription. They'd explain again what the meds are and how to take them and they would have smiled at and greeted me. I'd do it all in my lunch hour. + +I can't explain how much disdain the employees at the free clinic have on their face at having to deal with another poor person in their busy day full of more of these faceless people. I lost half a days wages to be treated like this, and I know i should just be thankful for it, but I'm not. + +ETA: a few people have pointed out that the urine sample is most likely for a drug test. +I had a savings account with ICICI bank, which I used for my online shopping, cash withdrawal and UPI payments. + +One day I analyzed my passbook, and I realized that I was spending around 1000 Rs p.a. for a debit card I rarely used and was charged two times for not maintaining the MAB (was duped into opening an account with MAB of 25k to reach the sales target). + +Other than that, several different charges were getting deducted, which I was unable to decipher by looking at my passbook statement. + +Getting raged at how my hard earned money was being siphoned off, I decided to close that account and researched about getting a cheap yet effective savings account. + +Now I use Post Office Savings Account (POSA) to store my liquid money and have integrated an India Post Payment Bank (IPPB) account with it to get almost all functions that my ICICI account had. + +Actually, money in POSA is stored with National Savings Scheme account of GoI, therefore it is not integrated with other banks though NEFT/UPI/RTGS etc. That is why you need to have an IPPB account linked with it for seamless money transfer. + +IPPB account act as an interface or "spending" account while POSA acts as a "storage" account, means you can load up your IPPB account from POSA and spend money, and also transfer back money to POSA. + +Despite this two fold system, I have found it a better banking service for most people. + +Following is a list of advantages - + +1. Interest rate of 4% p.a. in POSA compared to a measly 2.5% in banks. +2. Absolutely free RuPay debit card with POSA (no AMC or issuance charges). +3. MAB of Rs 500 in POSA and NIL in IPPB. +4. 100% sovereign guarantee of all money stored in POSA. +5. Separate accounts leads to lower spendings, as you can decide how much to load in IPPB and park away the rest in POSA. +6. Cash withdrawal/ deposit/ passbook update at any post office rather than specific bank branch. +7. Protection from online fraud due to separation of storage and spending accounts. +8. Most importantly, no pesky hidden charges. + +Some disadvantages - + +1. Need to visit post office for POSA account opening and linking with IPPB. +2. Slow customer service at post offices. +3. Post offices are not air conditioned ? + +Once you setup this system though, there is absolutely no reason to go to post office for anything. + +I save around 14k-15k p.a. in form of interest and other charges by using this system. +Cross-posting here from /r/PMTraders since it may be relevant to some of you. + +**The Results** + +I’ll start with the result: I lost $60-65k each in my PM account and the IRA account, for a total of -$125-130k. + +[Here’s my Portfolio Margin account YTD](https://i.imgur.com/pTKed3X.png) + +[IRA /ES losses](https://i.imgur.com/QxkH1pE.png) + +**The Intro** + +Below is my retrospective for my roughly 2 week period trading Calevonlear’s strat. Note that this will include a view of my mentality over this period as well as I believe it's relevant to the strategy execution. + +To be very clear, I'm in no way trying to blame /u/calevonlear here in the slightest. I read his notes, I thought it was an interesting and promising strategy that I hadn't encountered before, I misjudged my actual risks, and I'm not very good at day trading futures which exacerbated my losses. My own actions and decisions resulted in my losses. I only reference him because he's the one I learned the strategy from. + +I'm sharing my experience in the interest of knowledge-sharing as a warning about what I now think is the *actual* worst case short-term scenario for this strategy. + +I had seen his strat around and followed the performance for a few months. I liked the most recent iteration, the /ES 7DTE ATM strat on paper, especially since it was something he mentioned being an intentional choice so that even his wife could trade it from the phone if he weren’t able to. It sounded very mechanical, and I was comfortable with what I *thought* was the max drawdown of the strategy. Spoiler alert: it wasn’t. What I thought would be a week-long test just to get a feel for trading ATM puts through some light market oscillations turned out to be a strategy that trapped me. + +I wrote up my notes [here](https://old.reddit.com/r/PMTraders/comments/pv341e/september_25_2021_weekend_thread_what_happened/hed8ix5/) on 9/26 after scouring all his comments. + +**Quick strategy summary** (read the above link if you want more) + +* Selling 7-9DTE ATM puts on /ES to maximize extrinsic value. + +* BTC at $250 per contract which can be 15-25% depending on IV, but is a 10 point move at open. + +* If the market rises, ‘leapfrog’ and sell another /ES at the next $5 strike. You’ll have 2 strikes open and a 3rd opening when the first closes. + +* If it falls, sell one every 10 point fall, up to 6 strikes max, creating a ‘cascade’ of puts. + +* On a bigger fall, “Freeze” your portfolio. Once delta reaches 0.9 on all your puts, short /ES contracts to neutralize delta. Buy them back on the way back up. + +* Add a 7th put once there’s a rebound by filling the 5 strikes above the lowest put and leap from to help with recovery. Even an 8th is technically possible. + +* At 0DTE roll any ITM puts out to 7-8DTE. + +**Sizing** - His original sizing recommendation was 1 ‘set’ of contracts per $250k NLV. I went safer here and did 1 set in a $500k account and 1 set in a $750k account. *This was still way too aggressive imo.* I think $1M is more appropriate per set. + +/u/Neverstoplearning2 commented something that turned out to be incredibly central to why this strategy fails, and that’s the delta hedge. Unfortunately at the time I didn’t fully appreciate how right he was. He said: + +>The real problem is juggling with ES shorts, **because right after I buy back a short it goes down again..** So forget about trying to time and like Cale stated a hedge is going to cost you but it does help to limit losses of course and that is why you really should try to maintain your delta. + +Let me introduce you to whipsaw with leverage. + +**The Action** + +I’ll be sharing screenshots from the IRA at TW as its imo easier to see the trades, but the same exact trades were executed in the PM account. The $5k difference in eventual losses was the result of a mistake in the PM account where I ended up with 2 short puts at 4465 by accident. I thought it wasn’t a big deal, unfortunately the market reversed and I got trapped with both. + +On the first day, the strategy worked as expected, [with some easy profits](https://i.imgur.com/LSIWwgA.png) + +Then the market fell a tiny bit. [No worries, those are exactly the conditions I wanted to test this in](https://i.imgur.com/XqtUihY.png) + +But then it kept falling. [A lot](https://i.imgur.com/F05fCN3.png). Which felt like a lot more due to the leverage of this strat. I had to [start hedging the very next day](https://i.imgur.com/BILCeSl.png ) as my puts hit 0.9 delta. + + +And now we get to the real problems. + +There are two things working against this strategy, one small, one huge. + +1. It’s very easy to get trapped in a 7th put on a fake bounce back that just taps above your lowest strike. + + +2. There’s no good mechanical way to put on and take off the delta hedges when the market decides to jump up and down right in the zone where your puts are hitting 0.9 delta and you have to delta hedge to prevent catastrophic loss with all the leverage you now have. + +What happened over the next few days is the market would trigger me to put on my delta hedges. Then it would bounce up enough that I needed to take those hedges off to participate in a bounce back, except then it would reverse course again and re-trigger my delta-hedge zone. And the market just sat there for days, [bouncing up/down](https://i.imgur.com/qFllxMO.png). + +I was losing money on the way down, hedging, losing money on the hedges when the market started bouncing (which was 7 /ES contracts, which is a LOT of notional) un-hedging, and again losing money on the way down on my high delta short puts. It sucked. It was affecting my ability to do any work during the day. It was affecting my sleep. + +[Trades](https://i.imgur.com/DaUvUyG.png) + +[Continued](https://i.imgur.com/k4SB0MM.png) + +I went on PTO around this time and you can see on 10/01 I put on an 8 contract hedge after adding 4320 and 4340 short puts earlier that day. I was literally agonizing over whether a bounce would occur and I’d participate, or I’d go to sleep and wake up to a -$100k loss. I had to make the call and put the delta hedge on to be able to sleep. Turns out I did that at 4266, which 6 points off [the absolute low](https://i.imgur.com/ieGhuww.png), followed by another large bump the next day that I completely missed out on. + +After a few days of that whipsaw and my losses mounting, I lost my cool and tilted. I realized all I was really doing was day (and night) trading futures. The short puts were a complication that didn’t really add much value. So I leaned into it - I was sleep deprived and not thinking super clearly at this point. + +Observe that all these trades were the same day, and observe the contract sizes increasing as I got frustrated with getting whipsawed and tried to more directly day trade futures while *also* hedging the puts. + +[Day Trades 1](https://i.imgur.com/YGMtrHY.png) + +[Day Trades 2](https://i.imgur.com/yOp4Tjb.png) + +[Day Trades 3](https://i.imgur.com/HuTGcYP.png) + +My more leveraged PM account suffered a max drawdown of -18% during this 10/6 day trading spree, bouncing back to about -12.5% by EOD. In the IRA I bounced back to -8.5%. + +The following day I realized I had absolutely no edge here. This month would be the first month I had ever had a loss in my PM account, due to not trading my strategy. [I pulled the plug](https://i.imgur.com/3Hhcxnh.png) because I realized my only strategy here was praying the market would bounce back before it blew up my account. That’s just gambling. + +I measure a strategy by its performance during the worst times. It doesn’t matter how much money a strategy makes if it blows up the account during a drawdown. + +Unfortunately, that’s this strategy’s weakest point. It requires you to market time and day trades /ES futures contracts with massive leverage to prevent catastrophic portfolio loss. That’s my weakest point as a trader. I specifically sell premium because constructing a net premium-selling portfolio is more forgiving toward market timing. So in the moment when my portfolio is most vulnerable, this strategy compounds my weaknesses instead of relying on my strengths. + +**What could I have done better?** Many, many things. + +1. There was no point trying this in both the PM and IRA. One would have more than sufficed. + + +2. I could have tried this brand-new-to-me strategy on /MES instead to greatly reduce leverage and learn just as much. + + +3. I misjudged the true max-drawdown. I had estimated the drawdown per strategy would be the loss on 6 puts from 0.5 delta to 0.9 delta when I put the hedges on. If the market kept dropping, no problem, my losses were “frozen” in place until the market bounced back. Then I’d unfreeze my account as the market recovered and “leap-frog” to recover faster. + + That is *not* the worst case scenario for this strategy. The worst case scenario is the market dropping to the zone where your puts hit 0.9 delta and then bouncing around there for days on end, whipsawing you back and forth as you try to hedge and unhedge with short /ES puts, which is just day trading and market timing. It can also trap you in an extra short put than you expected for additional leverage and extra pain when a bounce is just temporary. + +4. I should have pulled the plug on the strategy the moment I realized #3. This was a failure to control emotion. I *know for a fact* I can’t successfully day trade futures. I’ve proven that to myself many times before and paid for it. As soon as I realized the hedging aspect of this strategy was much less mechanical than I initially thought, I should have bailed. That would have been a much more manageable loss of 7-8%. + +I’m glad I did pull the plug on the strategy when I did. Not because it was good timing - it wasn’t. If I just held through the pain and dealt with the drawdowns, I would have recovered most of my losses at this point and been close to flat after today’s rally. I’m glad though because I realized all I was doing was gambling with massive leverage in a trade I had no control over. The market could have just as easily dropped another 5%, or whipsawed for 2 more weeks in the same range, both of which could have been disastrous depending on *timing*, and I’ve already proven that’s not something I’m good at. + +**Any positives?** + +Yes, I think so. [Here are my monthly portfolio returns in the PM account going back a year](https://i.imgur.com/RxafGAI.png). I like to take brief notes on notable things affecting my P/L. Over the last 3 months I’ve had weak returns as I had a “bad feeling” about market structure and kept my BPu at 10% max while staying delta neutral. + +Ironically after that I leveraged up with this strategy and the market walloped me. Oops. + +The above experience of having 3-5% portfolio swings on 1% market moves has reset my risk tolerance. You can see in my original account NLV graph at the top that I was becoming more and more risk-averse, reducing volatility of returns, at the expense of reducing returns. I believe this experience snapped me out of that, and I’m once again more willing to find a healthy balance of volatility of returns. + +Secondly, I’ve been meaning to trade more futures contracts, especially in IRAs at TW, to leverage SPAN margin, but I’ve dragged my feet on it. TW allows for SPAN margin in their IRAs but has about 2x the BPR on those positions as in a Reg-T or PM account. After these losses, I now have a very good understanding of how TW treats IRA SPAN margin during larger moves. + +Similarly, I also generally like the simplification of underlyings and the 1256 contract tax treatment for my PM account, so I’ll seek to use futures contracts more to my benefit there as well. + +I also might consider longer DTE ATM contracts on specific equity underlying I’m very bullish at. I think there’s potential value in increasing my delta when I have high conviction on an underlying. + +I will not be trading ATM contracts with massive leverage though, that’s for sure. +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! + +Hey guys, I just came here to ask how do you do it if your group of friends show no interest at all in investments... With whom do you discuss news, company breakdowns etc? I am having this problem now. + +I want to get other opinions, other ideas, what I might be doing wrong, what is correct etc.. + +I just want a bunch of guys to chat and talk normally about investments, If you're in this situation, you're not alone lol +I just watched an interview with Wes Christian on investor Matt Khor's youTube channel and it blew my mind. Wes estimated that naked shorting has stolen trillions of dollars from the American economy in the last two decades, or as he calls it "financial treason." In his words it has "stolen retirement from a generation." + +I should add that Wes is a lawyer that has been fighting crooked hedge funds and brokers for decades. + +I don't know how to change the title, but that should have been "naked shorts" not "naked shares." +I assume this service exists, but haven't had much luck finding it. I'd love for someone to get to know me and my family well enough to anticipate (some of) our needs and proactively suggest things to do, places to go, stuff to try, timesavers, etc. We're growing tires of eating, doing, seeing, going to the same old places but don't have time to find alternatives. I know this exists in the travel industry (e.g. Virtuoso), but what about at home? + +Examples: + +1. \[some band/show\] is in town, you might like them. Should I book you tickets? +2. \[restaurant\] just opened/is similar to others you like. When would you like to go? +3. \[whoever's\] birthday is coming up. Here's some card and gift ideas. Let me know which to order. +4. \[Company\] just released a new \[thing\] that you love. Do you want it? +5. It's time to service your car. Can I have \[person\] pick it up tomorrow? +6. You may want to take the kids to \_\_\_\_\_. Here are the options. +7. Nanny is on vacation next month, I contacted the agency to book a temp replacement. Here are your options. + +My experience with personal assistants is that they are great at doing the things they are told, but don't necessarily have the personal knowledge (our likes/needs) or bandwidth to be proactive in the ways I am describing. + +I don't think my needs warrant a full-time person, but I wouldn't be completely opposed. Does this service exist? +In why nations fail extractive institutions are like China where there isn't democracy. But how have many of China's provinces already escaped the middle income trap and you have innovative companies like Huawei 5G and Tik Tok? Also Singapore was under the heavy handed leadership of Lee Kwan Yew who was a dictator yet are enormously rich today. +I’m a EMT & and my SO is as well. I just can’t picture how a couple can afford to buy multiple homes and turn them all into rentals, making profit while paying the mortgage. +*“While the whole world was having a big old party, a few outsiders and weirdos saw what no one else could. \[…\] These outsiders saw the giant lie at the heart of the economy, and they saw it by doing something the rest of the suckers never thought to do: They looked”.* (Big Short) + +I have seen many good quality DD about Corsair. We all know it’s a great business. + +What I want to focus on is the financials. More specifically: **We already know Q4 results and nobody is talking about it! Why? Because nobody looked!!!** + +Corsair recently posted a prospectus related to the sale of 7.5M shares by some insiders (totally normal as it’s mostly the private equity owner – EagleTree - selling a small bit and passing from 78.32% to 68.55% ownership - they sold 7,135,000 out of the 7,500,000 sold… It’s totally fair for the PE owner to cash out a bit). + +Here’s the **prospectus (dated 21st of January 2021**): [https://ir.corsair.com/static-files/22acfc88-2f42-4b16-8bbb-099323323f33](https://ir.corsair.com/static-files/22acfc88-2f42-4b16-8bbb-099323323f33) + +**1)** Now, check out page 9 of the document + + **For the year ended December 31, 2020, we expect:** + +**• Net revenue to be between approximately $1,700 million and $1,701 million** + +**• Net income to be between approximately $101 million and $103 million** + +**• Adjusted EBITDA to be between approximately $211 and $213 million** + + +Yes, we already know they have beaten their own updated estimates… + +In fact, the company initially estimated the following (*from Q3 release* [https://ir.corsair.com/static-files/9eeb96ec-6c9b-47f6-a7e5-6c9f0312b50d](https://ir.corsair.com/static-files/9eeb96ec-6c9b-47f6-a7e5-6c9f0312b50d)) + +For the full year 2020, we currently expect: + +• Net revenue to be in the range of $1,616 million to $1,631 million. + +• Adjusted operating income to be in the range of $178 million to $184 million. + +• Adjusted EBITDA to be in the range of $187 million to $193 million. + +Then, they updated the *guidance on November 30th 2020* ([https://ir.corsair.com/news-releases/news-release-details/corsair-gaming-updates-full-year-2020-outlook](https://ir.corsair.com/news-releases/news-release-details/corsair-gaming-updates-full-year-2020-outlook)): + +For the full year 2020, we currently expect: + +* Net revenue to be in the range of $1,651 million to $1,666 million. +* Adjusted operating income to be in the range of $186 million to $192 million. +* Adjusted EBITDA to be in the range of $194 million to $200 million. + + +**So they have beaten their own initial and revisited estimates. Great!! Really great!!** + +&#x200B; + +**2)** But that’s not all we can easily infer from the Prospectus dated January 21, 2021 (Again… we just need to look). + +As they mention on the Q3 report, “as of September 30, 2020, we had cash and restricted cash of $120.1 million, $48.0 million capacity under our revolving credit facility and total long-term debt of $370.1 million”. + +In the more recent prospectus (page 10): + +*In addition to the foregoing, as of December 31, 2020, we expect to have approximately $133 million in cash and restricted cash and we expect to have net debt of approximately $194 million following the repayment of $50.0 million in existing debt with cash on hand during the quarter ended December 31, 2020.* + + +**This means that they have reduced net debt from $250M ($370 - $120 of cash) to $194M, which implies $56M of free cash flow generated during the quarter.** As a reminder, they generated around 21M FCF in q3 2020 and 94M in the first 9 months of 2020. So **this implies around 150M FCF in 2020** (as a reference in the first 9 months of 2019, they had negative FCF of about 6M). + +(check cash flow statement at page 14 on the Q3 report here [https://ir.corsair.com/static-files/9eeb96ec-6c9b-47f6-a7e5-6c9f0312b50d](https://ir.corsair.com/static-files/9eeb96ec-6c9b-47f6-a7e5-6c9f0312b50d)) + + +At $39, Corsair has a 3.5Bn market cap (91.92M of shares outstanding). + +This is a very respectable cash flow yield of 4.2%. I’d be expecting a much lower yield from a company growing as fast as Corsair is (60.7% growth year-over-year in Q3 and, assuming sales of 554M for Q4 vs 327M for Q4 2019, a growth of 69.4% in Q4). + +\----- + +Now, you must be thinking: but the smart money already knows this! They have accounted for it! + +I used to be like you… I used to think the market was efficient and that big funds and banks were always looking carefully at things! + +No f\*\*\* way!!! + +Take a look at Goldman Sachs’ research from February 1st 2021 (yes, after the prospectus was published). + +Someone shared it on reddit + +[https://preview.redd.it/nrmzjy9lw3f61.png?width=4129&format=png&auto=webp&s=0c3bf8e1c1308a15dbbb26b519c58a4d7dea8ab0](https://preview.redd.it/nrmzjy9lw3f61.png?width=4129&format=png&auto=webp&s=0c3bf8e1c1308a15dbbb26b519c58a4d7dea8ab0) + + +They still base themselves on the updated guidance of November 30th 2020. No mention whatsoever of the much more recently updated “guidance” (more than a guidance, it’s actually the results given how close the ranges are…) + +&#x200B; + +**TLDR**: Corsair is a great company and its results are already out! + +Make your own investment decisions! + Hello friends. 💖 + +&#x200B; + +It is with a heavy heart that I tell you that I have recently faced serious irl threats to my safety and well being, and as a result I am taking a break from the daily posting of the Jungle Beat until further notice. + +&#x200B; + +Out of respect for my team's privacy, I will lay off any details. + +&#x200B; + +Out of respect for the apes I serve, I will tell you this; + +&#x200B; + +Moderating a forum this intense requires utmost trust with each and every team mate. + +&#x200B; + +And when external concerns about possible infiltration are brought to the "leadership" they should be handled respectfully and reasonably for all parties. + +&#x200B; + +Unfortunately I was recently met with some highly alarming threats to my irl safety and wellbeing as a result of taking such actions; threats which appear motivated by an apparent conflict of interest. I have subsequently been enduring some serious FUD attacks in the days following, including a dox attempt. As a result, I have lost trust, although I assure you the **vast** majority of the mods on this team are **beyond** trustworthy. + +&#x200B; + +I don't know what is happening, but I want you beautiful apes to remember; + +&#x200B; + +I have always loved and enjoyed spending my time with you for the last 6 months. You're fucking amazing. Truly. + +&#x200B; + +Don't let anyone tell you 7 figures or more is impossible. + +&#x200B; + +I'm holding til I see phone numbers. The DD backs it up and I believe in the DD. Do what you want tho. I just like the stock. My favorite holding period is forever. + +&#x200B; + +Ryan Cohen and DFV are the only idols you should have in all this, if any. + +&#x200B; + +I have only ever tried to serve this community honestly and respectfully. + +&#x200B; + +I realize this community does trust me as [the diamond whistle blower.](https://www.reddit.com/r/Superstonk/comments/ms6yvq/blowing_my_diamond_whistle_as_a_highly_visible/?utm_source=share&utm_medium=web2x&context=3) And I take the responsibility and trust quite seriously. + +&#x200B; + +I love you all and I have enjoyed serving you, first as your Princess Memelord, then as your shill-hunting mod, and ultimately, I hope, as your friend over drinks at the bar on the moon soon.